submitted by YaBoiBeezy to BitcoinMining [link] [comments]
|submitted by BitcoinAllBot to BitcoinAll [link] [comments]|
|submitted by BitcoinAllBot to BitcoinAll [link] [comments]|
submitted by mPrestige to revain_org [link] [comments]
4. Transaction FeesTransferring funds across the blockchain and withdrawing them from Bittrex costs a fee for customers, with the rate unique for every coin.
Bittrex Global charges no commission for deposits. Please keep in mind that some tokens or cash may be required to perform a transaction by a crypto coin or token’s community. Bittrex crypto exchange can’t keep away from it.
Every token or coin has a blockchain transaction fee that is built in it, and the Bittrex fee is a small amount to cover this charge. You can view the fee percentage for every coin or token by clicking Withdrawal near to the coin. There you will see a transaction fee you will be charged for withdrawing a specific coin or token.
In the example below, the withdrawal fee amounts to 1 USDT
The transaction fee for Bitcoin came to 0.00050000 BTC
5. Trading FeesThe fee schedule below provides the applicable rate based on the account's 30-Day Volume and if the order is a maker or taker.
Bittrex Global Fee30 Day Volume (USD)MakerTaker$0k - $50k0.2%0.2%$50k - $1M0.12%0.18%$1M - $10M0.05%0.15%$10M - $60M0.02%0.1%$60M+0%0.08%>$100MContact TAM representative
Trading expenses are incurred when an order is prepared by means of the Bittrex worldwide matching engine. While an order is being executed, the purchaser and the vendor are charged a rate primarily based on the order’s amount. The fee charged by Bittrex exchange is calculated by the formula amount * buy rate * fee. There aren't any charges for placing an order which is not being executed so far. Any portion of an unfinished order will be refunded completely upon order cancelation.
Prices vary depending on the currency pair, monthly trade volume, and whether the order is a maker or taker. Bittrex reserves the right to alternate fee quotes at any time, including offering various discounts and incentive packages.
Monthly VolumeYour buying and selling volume affects the fee you pay for every order. Our expenses are built to encourage customers who ensure liquidity in the Bittrex crypto exchange markets. Your buying and selling charges are reduced according to your trade volume for the last 30 years in dollars.
Bittrex calculates the 30-day value every day, updating every account's volume calculation and buying and selling charge between of 12:30 AM UTC and 01:30 AM UTC every day.
You can check your monthly trade volume by logging in and opening Account > My Activity.
6. Withdrawing FundsWithdrawing any type of funds is likewise simple. You can profit by buying and selling Bitcoin, Ether, or any other cryptocurrency.
You determine the crypto address—to which the amount will be credited—and the transaction amount. The withdrawal fee will be automatically calculated and shown right away.
After confirming the transaction, the finances will be sent to the specified addresses and all that you need to do is to wait for the community to confirm the transaction.
If the 2FA is enabled, then the user receives a special code (via SMS or application) to confirm the withdrawal.
7. How to Trade on Bittrex GlobalCurrency selling and buying transactions are performed using the Sell and Buy buttons, accordingly.
To begin with, the dealer selects a currency pair and sees a graph of the rate dynamics and different values for the pair.
Below the chart, there is a section with orders where the user can buy or sell a virtual asset.
To create an order, you just need to specify the order type, price, and quantity. And do not forget about the 0.25% trade fee whatever the quantity.
For optimum profit, stay with liquid assets as they can be quickly sold at a near-market rate effective at the time of the transaction. Bittrex offers no referral program; so buying and selling crypto is the easiest way to earn.
Order TypesBittrex helps you alternate Limit and Stop-Limit orders.
A limit order or a simple limit order is performed when the asset fee reaches—or even exceeds—the price the trader seeks. To execute such an order, it is required that there's a counter market order on the platform that has the identical fee as the limit order.
Differences between Limit Order and Stop Limit OrderA stop limit order is a mixture of a stop limit order and a limit order. In such an application, charges are indicated—a stop charge and the limit.
Stop Limit Order Purposehttps://preview.redd.it/hlxvy9ti4zh51.jpg?width=1141&format=pjpg&auto=webp&s=064a77459a4dcb4555a885cbc56629aae10fc38b
Trade TerminalLet’s discuss how you could trade conveniently with our service.
The key features include a user-friendly interface and precise currency pair statistics (timeframe graphs, network data, trade volumes, and so forth).
The platform’s top-notch advantage is handy, easy-to-analyze, customizable charts. There is also a column for quick switching between currency pairs and an order panel beneath the fee chart. Such an all-encompassing visual solution helps compare orders efficiently and in one place.
You can use the terminal in a day or night mode; when in the night mode, the icon in the upper-right corner changes and notice the Bittrex trading terminal in night mode is displayed. The main menu consists of 4 sections: Markets, Orders, Wallets, Settings.
Markets are the trade section. Bittrex allows handling over 270 currency pairs.
Orders. To see all open orders, go to Orders → Open.
To see completed orders, go to Orders → Completed.
Wallets. The Wallets tab displays many wallets for all cryptocurrencies supported by the exchange and the current balance of each of them.
After refilling the balance or creating a buy or sale order, you will see all actions in the section. Bittrex allows creating a separate wallet for every coin. Additionally, you can see how the coin price has changed, in terms of percentage, throughout the day.
Here’s what you can also do with your wallets:
How to SellThe process of selling crypto assets follows the same algorithm. The only difference is that after choosing the exchange direction, you need to initiate a Sell order. All the rest is similar: you select the order type, specify the quantity and price, and click Sell *Currency Name* (Sell Bitcoin in our case).
If you scroll the screen, the entire history of trades and orders will be displayed below.
LONG and SHORTYou can make a long deal or a short deal. Your choice depends on whether you expect an asset to fall or rise in price.
Long positions are a classic trading method. It concerns purchasing an asset to profit when its value increases. Long positions are carried out through any brokers and do not require a margin account. In this case, the trader’s account must have enough funds to cover the transaction.
Losses in a long position are considered to be limited; no matter when the trade starts, the price will not fall below zero with all possible errors. Short positions, in contrast, are used to profit from a falling market. A trader buys a financial instrument from a broker and sells it. After the price reaches the target level, the trader buys back the assets or buys them to pay off the initial debt to the broker.
A short position yields profit if the price falls, and it is considered unprofitable the price matches the asset value. Performing a short order requires a margin account as a trader borrows valuable assets from a broker to complete a transaction. Long transactions help gain from market growth; short from a market decline.
Trade via APIBittrex also supports algorithmic trading through extensive APIs (application programming interface), which allows you to automate the trading process using third-party services.
To create an API key, the user must enable the two-factor authentication 2FA, verify their account, and log in to the site within 3 minutes.
If all the requirements of the system are fulfilled, you can proceed to generate the API key. Log in to your Bittrex account, click Settings. Find API Keys. Click Add new key (Create a new key).
Toggle on / off settings for READ INFO, TRADE, or WITHDRAW, depending on what functionality you want to use for our API key.
Click Save and enter the 2FA code from the authenticator → Confirm.
The secret key will be displayed only once and will disappear after the page is refreshed. Make sure you saved it!
To delete an API key, click X in the right corner for the key that you want to delete, then click Save, enter the 2FA code from the authenticator and click Confirm.
Bittrex Bot, a Trader’s AssistantRobotized programs that appeared sometimes after the appearance of cryptocurrency exchanges save users from monotonous work and allow automating the trading process.
Bots for trading digital money work like all the other bots: they perform mechanical trading according to the preset parameters.
Currently, one of Bittrex’s most popular trading bots is Bittrex Flash Crash Buyer Bot that helps traders profit from altcoin volatility without missing the right moment.
The program monitors all the market changes in the market every second; also, it even can place an order in advance. The Bittrex bot can handle a stop loss—to sell a certain amount of currency when the rate changes in a favorable direction and reaches a certain level.
8. Secure PlatformBittrex Global employs the most reliable and effective security technologies available. There are many cases of theft, fraud. It is no coincidence that the currency is compared to the Wild West, especially if we compare the 1800s when cowboys rushed to the West Coast of America to earn and start something new in a place that had no rules.
Cryptocurrency is still wild. One can earn and lose money fast. But Bittrex has a substantial security policy thanks to the team’s huge experience in security and development for companies such as Microsoft, Amazon, Qualys, and Blackberry.
The system employs an elastic, multi-stage holding strategy to ensure that the majority of funds are kept in cold storage for extra safety.
Bittrex Global also enables the two-factor authentication for all users and provides a host of additional security features to provide multiple layers of protection.
Bittrex cold wallet: https://bitinfocharts.com/en/bitcoin/address/385cR5DM96n1HvBDMzLHPYcw89fZAXULJP
How to Pass IP VerificationTo ensure higher security of your Bittrex Global account, the system requires all users to approve each new IP address through an email confirmation. This IP verification procedure is required every time you attempt to log in from a new IP Address.
Confirming your IP address.
The new IP address must be confirmed from the device that you are using to access Bittrex Global. This means that you must follow the CLICK HERE TO LOGIN link in an email on the device that you want to use to access your account.
To ensure even more security, Bittrex Global supports whitelisting of IP addresses and Crypto addresses. These two features can help protect the account in the event of credentials or API key loss.
How to Add IP Address to WhitelistBy setting one or more whitelisted addresses, you are telling Bittrex Global to only authorize trades or withdrawals from those IPs. This concerns both the global.bittrex.com web interface and API-based trades or withdrawals. To do this, click IP Whitelist in Site Settings.
How to Add Crypto Address to WhitelistBy setting a withdrawal address, you are telling Bittrex Global to authorize withdrawals only to that address.
This concerns both the global.bittrex.com web interface and API based withdrawals.
Note that when opting into this feature, you need to specify a withdrawal address would like to withdraw funds from for every currency. To do this, click Withdrawal Whitelist in the Site Settings section. The example below shows a BTC address.
AfterwordBittrex Global is a reliable and advanced platform for trading digital assets with a respected reputation, long history, and active market presence and development nowadays. The exchange is eligible to be used globally, including the US and its territories.
The legal component of Bittrex Global is one of the most legitimate among numerous crypto-asset exchanges.
The Bittrex team has had great ambitions and managed to deliver promises and more. The exchange staff comprises forward-thinking and exceptional individuals whose success is recognized in the traditional business and blockchain sector.
Bittrex's purpose is to be the driving force in the blockchain revolution, expanding the application, importance, and accessibility of this game-changing technology worldwide.
The exchange fosters new and innovative blockchain and related projects that could potentially change the way money and assets are managed globally.
Alongside innovation, safety will always be the main priority of the company. The platform utilizes the most reliable and effective practices and available technologies to protect user accounts. Bittrex customers have always primarily been those who appreciate the highest degree of security.
Because of the way the Bittrex trading platform is designed, it can easily scale to always provide instant order execution for any number of new customers.
Bittrex supports algorithmic trading and empowers its customers with extensive APIs for more automated and profitable trading.
One of the common features which is not available on the exchange is margin trading. No leverage used however adds up to the exchange's stability and prevents fast money seekers and risky traders from entering the exchange.
Bittrex is a force of the blockchain revolution and an important entity of the emerging sector.
The full version
\This post has been written by Hedgehog, an MCS influencer and one of Korea's famous cryptocurrency key opinion leaders.*submitted by MyCoinStory to MyCoinStory [link] [comments]
#Be_a_Trader!Greetings from MCS, the derivatives trading platform where traders ALWAYS come first.
The global gold price continues to rise. The gold price ended at $2049.30, up 1.4% ($28.30) per ounce for December delivery on the New York Mercantile Exchange on the 5th local time. For the first time in history, the gold price hit the $2,000 per ounce mark and settled to the $2,050 mark in a day. It is an unprecedented rise in gold price with an increase during 4 consecutive trading days and hit record highs 7 times in the last 8 trading days.
The cryptocurrency market also showed strong increases last night. As of 20:00 UTC, the bitcoin price was 11693.51 dollars, up 3.96% from the previous day, and Ethereum and Litecoin rose 3.17% and 3.29%, respectively. Also, Bitcoin dominance recorded 60.8%.
With the rise of international gold prices, traders around the world are naturally watching the bitcoin price. Today, we will share how you can realize profits through the trading of bitcoin derivatives, the perpetual contracts.
💡 "Bitcoin Derivatives Perpetual Contract Trading is a Trade of Contracts."Understanding contract trading is the most difficult part for existing stock traders and traders who trade cryptocurrency spots when trading perpetual contracts. Let's take a closer look at the example of trading stocks and bitcoin derivatives below.
In the case of stocks, the money required to buy a stock of $5,000, you pay $5,000. If you buy one share of the stock for $5,000 and then sell the stock when the stock reaches $6,000, you realize a profit of $1,000.
As mentioned above, contracts are traded in the case of perpetual contracts. However, the value of each contract is roughly the same for each derivatives exchange. With MCS's BTC/USDT perpetual contracts as an example, 1 contract is worth 1 USDT.
💡 "1 Contract = 1 USDT? How do I trade that with Bitcoin?"Assuming the price of bitcoin is 10,000 USDT, how many contracts can I buy on the BTC/USDT perpetual contracts with 1 BTC? As each bitcoin is worth 10,000 USDT, 10,000 contracts worth 1 USDT can be bought or sold.
So the question here, if the price of bitcoin is 20,000 USDT and I have 1 BTC, how many BTC/USDT perpetual contracts can I buy from MCS?
It would be 20,000 contracts. The easy way to figure this out is with this formula. "present value / contract value of bitcoin". In this formula, if the present value of bitcoin = 20,000 USDT and the contract value = 1 USDT, if substituted, it becomes 20,000/1 = 20,000 contracts.
💡 "Now I understand the concept of contracts, so how do I make profits??"Bitcoin perpetual contracts have a long position that predicts the price increase and a short position predicting the price decrease. This revenue calculation part is well explained in the help center of MCS.
MCS Perpetual Contracts Profit and Loss Calculation :
🎯 "You don't have to be excellent to start, but you have to start to be great." - Les Brown
If you are a trader who wants to realize economic freedom through cryptocurrency trading, I recommend the trading perpetual contracts on MCS. Firsts are always difficult and feels unfamiliar. However if you adapt and build up your know-how, it is like acquiring a new weapon that others do not have. If there are traders being lazy in learning due to the difficulty, MCS provides online customer support 24/7, so if you do not understand something, please get help from the MCS support team.
This is it from the margin trader Hedgehog.
*Bitcoin derivatives trading is a high-risk, high-return investment, so it is recommended to fully understand all related matters before trading.
Traders ALWAYS come first on MCS.
MCS Website: https://mycoinstory.com/
MCS Official Twitter (EN): https://twitter.com/mycoinstory_mcs
MCS Official Facebook: https://www.facebook.com/MyCoinStory.official
MCS Telegram Chat (EN): https://t.me/mycoinstory_EN
Author: Gamals Ahmed, CoinEx Business Ambassadorsubmitted by CoinEx_Institution to Coinex [link] [comments]
Financial risk management is one of the most controversial topics in trading. Traders want to reduce the risk and potential loss, but on the other hand, these traders also want at the same time to get the best profits. It is known that in order to obtain greater returns, you also need to take greater risks.
Some may consider trading an entertaining and difficult pastime, but everyone should be aware that the most important aspect of trading is risk management.
What are the different risk management techniques used in trading?Long-term trading
Stock market traders use historical data to make long-term strategic business decisions. The long-term cryptocurrency strategy depends on current activity, and you will be more inclined towards hopeful information rather than reliable information and more suitable for cryptocurrencies.
Short term trading
Short-term traders benefit from the volatile cryptocurrency market by using swing trading when the price differs in short bursts of movement.
Technical analysis of cryptocurrencies requires research into project that affect the market based on price and volume data available through analytical technology.
Traders often look to blogs and information sites and study the whitepaper for cryptocurrencies or cryptocurrency community forums.
Why should you stick to risk management?You can get a series of successful deals based on good luck. You can also get a series of bad deals that depend on luck and feel.
It even happens to successful, experienced professional traders that they lose 10 trades in a row. Without risk management, this could result in your capital loss and final exit. The most important goal in trading is to stay in the market and preserve your capital. As long as you are in the market, you can recoup your losses.
If you lose 10% of your capital, this means that you must make a profit of 11.1%. If your budget is $ 1,000 and you lose $ 100 ( ~ to 10%), you’ll have $ 900. $ 100 is 11.1% of that.
This means that losses hurt more than profits of the same size. This becomes worse with more losses. If you lose 50% of your capital, you must double your money to offset the loss.
The new trader’s rule for managing at most risk is 1% of the capital for each trade. If you lose 10 deals in a row (which is unlikely) and lose 1% each time, how much do you have left? Still 90%.
If you risk 2%, what remains for you after losing 10 recurring deals is only 81% of the capital. You have to make 11% or 23% profit to make up for it. Even if you lose 100 deals in a row with a 1% risk management plan in hand, you still have 37%.
A seasoned trader may use 2% occasionally. A trader who risks 10% disappears quickly.
You might be wondering, if I decide to follow risk management with just 1% in the deal, does this mean that I can only invest 1% of the capital for each transaction? No. This is the ratio for determining the maximum acceptance of a loss from a single trade.
I assume you know your total capital, no matter if it is $ 100 or $ 1 billion. The main point is to have a specific budget available. Do not use borrowed money, which you have to repay in a deadline. Do not use money you need in the future. If you are emotionally attached to this money, these emotions will make you feel stressed. You want to be a successful trader and not an emotional gambler.
The next step is to find a deal. It does not matter if you do this daily and trade specific currencies or not. You have tools like fundamental and technical analysis to research deals. Immediately before entering into a trade, there is a basic calculation that must be performed:
Determine the entry price, stop loss and the amount of risk.
Well, the risk is easy. We already know that we will choose 1%.
The entry price is also easy. It could be the current market price or the limit you set for your order.
Now, stop loss: it is necessary to know and set the stop loss before entering a trade. Another rule is that you are not allowed to adjust your stop loss afterward to accept more losses.
How to determine the stop loss? Technical analysis is the only method available regardless of the random selection of something. Perhaps you will use something like “beyond the next support level (or resistance)” or “the other side of the trend line we just broke”.
Now we have the four components of risk management: budget size, entry price, stop-loss and risk-taking. The time to use the calculator.
The size of the deal
Now to find out how much money you are allowed to invest in this deal.
Transaction Size = (Risk Size * Budget) / (Entry Price — Stop Loss)
For example: If you have a budget $ 1,000 and want to buy bitcoin for $ 2,300 with a stop loss $ 2,200 and a risk 1%, then this means: The deal size is (1% * $ 1,000) / ($ 2,300 — $ 2,200) ) = $ 10 / $ 100 = 0.1.
So in this example you are allowed to buy 0.1 Bitcoin units for this trade.
You must make this account before every trade! Even if you do, you will encounter errors sometimes, but risk management will help you to preserve your capital. Courage will shout at you to take greater risks, because you are very sure of your prediction. But always remember, to succeed you must stick to your stop loss and strategy.
Before entering into a position, you must also have a target price in mind for sale. The risk must be doubled. If you risk 1% of your capital, the potential profit must be 2–3% of your capital. If the goal for profit is equal to stopping the loss, you must stay away from trading and ignore this deal.
This does not mean that you will always reach or lose your goal. You are allowed to manually track stop loss or exit early. However, the goal should be possible given the volatility of the market you are in.
Level of risk
Well, I got away from the plan and ignored your strategy. The deal entered without due diligence. whatever. How much risk did you just take?
You know your budget, entry price and deal size. You must quickly define the next stop loss. How much risk?
Risk = (Trade Size * (Entry Point — Stop Loss)) / Budget
For example, I bought 0.3 bitcoin at a price of $ 2,500 with a budget of $ 1,000. Stop loss is $ 2345. This means that the risk is (0.3 * 155 dollars) / 1000 dollars = 4.64%.
Now for some good things that can’t be used practically, however, the concepts are sound. Why the reader may ask 1% risk? Is it just a rule? Is there an ideal ratio? In theory, yes there is. We can use the Kelly standard. The formula is simple:
Risk = p-((1-p)/r
Getting those variables P and R is difficult. You have to know your profit rate, which is the number of times your goals are reached. You also need a profit-to-loss ratio, which is the average profit per trade.
For example, if you earn 47% of the time and 117% of your average capital, then the ideal risk is 1.7%.
In practice you don’t really know this specifically or variables p and r, so I recommend sticking to 1% as the basis for risk management.
Risk Management Tips for Cryptocurrency Investment1. You should never risk more than you can afford to lose.
However, this error is very common, especially among Crypto traders who are just starting out. The Crypto market is very difficult to predict, so traders who want to invest more than they can actually put themselves at risk of market and losing their money.
2. Don’t trade by all of your capital at same time.
Anything can affect the Crypto market. The smallest news can affect the price of a particular currency in a negative or positive way. Instead of trade with everything you own”, it is better to follow a more moderate path and trade reasonable amounts of your capital.
3. Improve your risk management performance
Fortunately, there are several ways to help avoiding these mistakes and avoid loss. You must have a well-tested trading plan that includes all the details of managing financial risk in Crypto. The trading plan should be practical — and you should be able to follow its steps easily. Experts recommend that it is better to focus on high-probability deals.
Crypto trading involves a high degree of risk, so it is essential that you be disciplined in all of your financial transactions. You should also be able to pay extra attention to your past mistakes, and practice trading activities in a demo account first. The time and effort you spend in creating a trading plan is often considered a major investment that helps you achieve a profit-able future.
4. Control your emotions and risk management
As a Crypto trader, you need to be able to control your feelings and emotions towards your open, future, and closed positions as well! If you cannot control your feelings, you will not be able to reach a position where you can make the profits you want to trade. Market sentiment can often trap traders in volatile positions in the market. This is one of the most common market risk for Crypto trading. Those with stubborn nature tend not to do well in the Crypto market.
These types of traders tend to wait too long to exit the trade. When a trader realizes his mistake, he must leave the market as soon as possible, to take the least possible loss. Waiting too long can cause you to lose a large portion of your capital. Once you exit the deal, you need to be patient and re-enter the market when it presents a real new opportunity.
5. Basic concepts in risk management
To reduce the financial market risk for trading Cryptocurrency, you will need to remember some of the basic points mentioned below:
The evaluation of money changes, and often affects companies and individuals participating in global stock exchanges.
Liabilities, assets and fund flows are affected by changes in exchange rates.
By trading small amounts of your capital and monitoring market movements, you will be able to see these concepts take hold throughout your daily trading sessions.
6. Important tips for developing a risk management plan model
Below is a series of simple tips that you can consider and include in the financial risk management plan model when trading Crypto, which may help you reduce trading losses associated with market risks:
1. Stop losses
Trading without a stop loss is like driving a car without braking at full speed — it won’t end well. Likewise, once your stop loss is set, you should never lower it. There is no point in having a safety net in place if you are not going to use it properly.
The goal of stopping a loss is to limit the size of the potential loss in order to be able to in-crease your total profits, and what needs to be done on the other side is to set profit-taking orders as well!
2. Do not link all your investments in one place
This applies to all types of investment, and Crypto is no exception. Crypto should be part of your portfolio, but not complete it. Another way that you can expand it is to invest or trade more than one crypto coin.
3. The general trend is your companion
You may have made the decision to be a long-term trader, with plans to keep these deals for an extended period of time. However, regardless of the deal you ultimately decided to take, you should not resist current market trends or movements. There will always be strong players in the market, and the best way to keep up with them is to absorb such changes and follow the general trend, and change your strategies to reflect this.
4. Keep teaching yourself
The best way to learn the financial risk management system in Crypto and become an efficient and successful Crypto trader is to know how the market works. However, as we mentioned earlier, the market is constantly changing, so if you want to stay ahead of your game, you have to be always ready to learn new things and update yourself about market changes.
5. Use the plug-in
To advance in Crypto, you may want to use some trading software that can help you settle your choices. However, these systems are not ideal, so it is best to use them as a consulting tool, and something to refer to rather than use as a basis for making business decisions.
6. Limiting the use of leverage
It can be very tempting to use leverage to make big profits. However, this can make it easy for you to lose a huge portion of your capital, too. So do not support the use of giant leverage. All it takes is one quick change in market direction, and you can easily delete your entire trading account.
Crypto risk management is not difficult to understand and implement. But in order to invest in any financial instruments, whether it be bonds, exchange-traded funds, stocks, contracts for the difference in prices or cryptocurrencies, you need to acquire advanced knowledge in the field of risk management. The hard part is having enough self-discipline to adhere to the rules of this risk management plan as the market moves against your positions.
The content is for opinion sharing only and should not be relied upon to make any investment decisions.
submitted by CelesOS to u/CelesOS [link] [comments]
The consensus mechanism is one of the important elements of the blockchain and the core rule of the normal operation of the distributed ledger. It is mainly used to solve the trust problem between people and determine who is responsible for generating new blocks and maintaining the effective unification of the system in the blockchain system. Thus, it has become an everlasting research hot topic in blockchain.
This article starts with the concept and role of the consensus mechanism. First, it enables the reader to have a preliminary understanding of the consensus mechanism as a whole; then starting with the two armies and the Byzantine general problem, the evolution of the consensus mechanism is introduced in the order of the time when the consensus mechanism is proposed; Then, it briefly introduces the current mainstream consensus mechanism from three aspects of concept, working principle and representative project, and compares the advantages and disadvantages of the mainstream consensus mechanism; finally, it gives suggestions on how to choose a consensus mechanism for blockchain projects and pointed out the possibility of the future development of the consensus mechanism.
First, concept and function of the consensus mechanism
1.1 Concept: The core rules for the normal operation of distributed ledgers
1.2 Role: Solve the trust problem and decide the generation and maintenance of new blocks
1.2.1 Used to solve the trust problem between people
1.2.2 Used to decide who is responsible for generating new blocks and maintaining effective unity in the blockchain system
1.3 Mainstream model of consensus algorithm
Second, the origin of the consensus mechanism
2.1 The two armies and the Byzantine generals
2.1.1 The two armies problem
2.1.2 The Byzantine generals problem
2.2 Development history of consensus mechanism
2.2.1 Classification of consensus mechanism
2.2.2 Development frontier of consensus mechanism
Third, Common Consensus System
Fourth, Selection of consensus mechanism and summary of current situation
4.1 How to choose a consensus mechanism that suits you
4.1.1 Determine whether the final result is important
4.1.2 Determine how fast the application process needs to be
4.1.2 Determining the degree to which the application requires for decentralization
4.1.3 Determine whether the system can be terminated
4.1.4 Select a suitable consensus algorithm after weighing the advantages and disadvantages
4.2 Future development of consensus mechanism
Last lecture review: Chapter 1 Concept and Function of Consensus Mechanism plus Chapter 2 Origin of Consensus Mechanism
Last lecture review: Chapter 3 Common Consensus Mechanisms
Chapter 3 Common Consensus Mechanisms (Part 2)
Figure 6 Summary of relatively mainstream consensus mechanisms
Source: Hasib Anwar, "Consensus Algorithms: The Root Of The Blockchain Technology"
The picture above shows 14 relatively mainstream consensus mechanisms summarized by a geek Hasib Anwar, including PoW (Proof of Work), PoS (Proof of Stake), DPoS (Delegated Proof of Stake), LPoS (Lease Proof of Stake), PoET ( Proof of Elapsed Time), PBFT (Practical Byzantine Fault Tolerance), SBFT (Simple Byzantine Fault Tolerance), DBFT (Delegated Byzantine Fault Tolerance), DAG (Directed Acyclic Graph), Proof-of-Activity (Proof of Activity), Proof-of- Importance (Proof of Importance), Proof-of-Capacity (Proof of Capacity), Proof-of-Burn ( Proof of Burn), Proof-of-Weight (Proof of Weight).
Next, we will mainly introduce and analyze the top ten consensus mechanisms of the current blockchain.
Delegated Byzantine fault tolerance. The improved Byzantine fault-tolerant algorithm makes it suitable for blockchain systems. The system consists of nodes, delegators (who can approve blocks), and speakers (who proposes the next block). It is a consensus algorithm that guarantees fault tolerance implemented inside the NEO blockchain.
In this mechanism, there are two participants: the professional bookkeeper "bookkeeping node" and the ordinary users in the system.
Ordinary users vote based on the proportion of holding stake to determine the bookkeeping node. When a consensus is required, a spokesperson is randomly selected from these bookkeeping nodes to draw up a plan, and then other bookkeeping nodes will vote basing on the Byzantine fault tolerance algorithm.That is, majority principle. If more than 66% of the nodes agree to the spokesperson’ plan, a consensus is reached; otherwise, the spokesperson is re-elected and the voting process is repeated.
-Representative application: Neo, etc.
Proof of authority. That is, certified by some accredited accounts, these accredited accounts are called "validators". The software that the verifier runs that supports the verifier to place transactions in blocks.
-Representative applications: VeChain, etc.
Directed acyclic graph. Each newly added unit in the DAG is not only added to the long chain block, but added to all the previous blocks, verifying each new unit and confirming its parent unit and the parent unit of the parent unit, and gradually confirming until the genesis unit. As the hash of its parent unit is included in its own unit, the blockchains of all transactions are connected to each other to form a graph-like structure with time.
In the DAG network, each node can be a trader and a validator, because the transaction processing in DAG is done by the transaction node itself. Taking IOTA as an example, IOTA’s Tangle led
ger does not need to pay transaction fees while ensuring high-speed transaction processing. However, it does not mean that the transaction is free, because in this ledger, the initiation of each transaction needs to verify the other two random transactions first, and connect the transaction initiated by itself to these two transactions, so the responsibility that miners on the blockchain bear is distributed to all traders. The DAG method of processing transactions can be called asynchronous processing mode.
Figure 10 The difference between the traditional blockchain structure and the DAG structure
-Representative applications: IOTA, etc.
Proof of elapsed time. That is, it is usually used in a permissioned blockchain network. It can determine the mining rights of the block holders in the network. The permissioned blockchain network requires any prospective participants to verify their identity before joining. According to the principles of the fair lottery system, each node is equally likely to become the winner.
Each participating node in the network must wait for a randomly selected period, and the first node to complete the set waiting time will get a new block. Each node in the blockchain network will generate a random waiting time and sleep for a set time. The node that wakes up first, that is, the node with the shortest waiting time, wakes up and submits a new block to the blockchain, and then broadcasts the necessary information to the entire peer-to-peer network. The same process will be repeated to find the next block.
Proof of stake velocity. Proposed by Reddcoin, drawing on the concept of "money circulation speed" in economics, it mainly allocates bookkeeping rights based on the coin age of nodes participating in the competition.
PoSV also allocates accounting rights according to the coin age of the nodes participating in the competition, but modifies the coin age calculation formula to a function of exponential decay of growth rate. Taking Reddcoin as an example, Reddcoin sets the half-life of the coin age growth rate to 1 month. Assuming that the unit token can accumulate 1CoinDay coin age on the first day, only 0.5CoinDay coin age can be accumulated on the 31st day, and only 0.25CoinDay coin age can be accumulated on the 61st day, and so on. In this way, the nodes are encouraged to use the token to conduct a transaction after holding the token for a period of time, thereby restarting the calculation of the coin age and increasing the circulation speed of the token in the network.
-Representative applications: Reddcoin, etc.
Table 2 Comparison of the advantages and disadvantages of current mainstream consensus mechanisms
Source: network resources
Chapter 4 Summary of the Selection and Status Quo of Consensus Mechanism
4.1 How to choose a consensus mechanism that suits you
Step 1: Determine whether the final result is important
For some applications, the end result is very important. If you are building a new payment system that can support very small amounts, it is acceptable for the transaction result to change. Similarly, if you are creating a new distributed social network, 100% guarantee that the status is updated immediately is not particularly necessary. On the contrary, if you are creating a new distributed protocol, the final result is critical to the user experience. For example, Bitcoin has a final confirmation time of about 1 hour, Ethereum has a final confirmation time of about 6 minutes, and Tendermint Core only has a final confirmation time of 1 second.
Step 2: Determine how fast the application process needs to be
If you are building a game, is it reasonable to wait 15 seconds before each action? Due to the low block processing time of Ethereum, games built on it will cause poor user experience due to Ethereum's throughput. However, the application for the transfer of housing property rights can be run on Ethereum. Use the Cosmos SDK to build an application that allows developers to freely use Tendermint Core. It has a short block processing time and high throughput, and is capable of processing 10,000 transactions per second. You can reduce the required communication overhead and speed up the application by setting the maximum number of validators for the application.
Step 3: Determine the application's demand for decentralization
Some applications such as games may not require very high censorship resistance as a by-product of decentralization. In theory, does it really matter that the validator can create a cartel in the game and reverse the transaction result for profit? If it is not important, a blockchain such as EOS may be more suitable for your needs because of the fast transaction speed and free fees. However, some applications such as autonomous banks are more powerful and decentralized. Although Ethereum is considered to be decentralized, some supporters claim that Ethereum's mining pool is an important part of centralized platform, although there are actually only 11 validators (mining pools). One of the major benefits of building your own blockchain instead of building on a smart contract platform is that you can customize the way the application completes verification. However, it is difficult to build your own blockchain, so the Cosmos SDK is very useful, you can easily build your own blockchain and customize the degree of decentralization you need.
Step 4: Determine whether the system can be terminated
If you are building a new application similar to a distributed ride-sharing service, then ensuring 24/7 service must be the first priority, even if there are occasional errors in accounting similar to transactions. One of the properties of Tendermint Core is that if there is a disagreement between network validators, the network will suspend operations instead of proceeding erroneous transactions. Applications such as decentralized exchanges require correctness at all costs-if there is a problem, it is far better to suspend trading on the decentralized exchange than there may be trading problems.
Summary: Choose a suitable consensus algorithm after weighing the advantages and disadvantages
All in all, there is no single best consensus algorithm. Each consensus algorithm has its own value and advantages. You need to have your own judgments and choices. However, by understanding the relevant processes of the consensus mechanism, including proposals and agreements, and establishing a framework to consider the types of consensus algorithms that your application may require, you should be able to make wiser decisions.
4.2 Future development of consensus mechanism
The consensus algorithm is one of the core elements of the blockchain. Although there are more than 30 consensus mechanisms listed in the article, there are still many niche consensus mechanisms that may not be discussed. As the blockchain technology is gradually known and accepted by the public, more and more newer and better consensus algorithms may appear in the future, which may be brand-new consensus algorithms, and more should be improvement and optimization version based on the current consensus algorithm.
After 2016 and 2017 years’ fast development, the current consensus algorithm does not have a recognized evaluation standard, but is generally more biased towards fairness and decentralization, as well as some technical related issues, such as energy consumption and scalability , Fault tolerance and security, etc. However, blockchain technology must be combined with requirements and application scenarios, and the consensus mechanism algorithm and incentive mechanism are inseparable. How to customize a suitable consensus mechanism according to the characteristics of your own project and optimize the current consensus mechanism will become the future direction of consensus mechanism development
As the first DPOW financial blockchain operating system, CelesOS adopts consensus mechanism 3.0 to break through the "impossible triangle", which can provide high TPS while also allowing for decentralization. Committed to creating a financial blockchain operating system that embraces supervision, providing services for financial institutions and the development of applications on the supervision chain, and formulating a role and consensus ecological supervision layer agreement for supervision.
The CelesOS team is dedicated to building a bridge between blockchain and regulatory agencies/financial industry. We believe that only blockchain technology that cooperates with regulators will have a real future. We believe in and contribute to achieving this goal.
You should not ignore a small budget - Investment costsubmitted by bityardadmin to u/bityardadmin [link] [comments]
Cryptocurrency transactions are becoming a viable alternative to traditional electronic payments. On June 2, 2020, Bitcoin breaches $10k for the first time since February, attracting the attention many people, investor are investing even more in the virtual currency trading market looking forward to for profit.
However, when it comes to investment, when you expecting to make a profit, what other costs should you be paying attention at?
Fees are the incoming source of trading platforms. Short or mid to long term operations investment, every transaction will incur a fee, so every transaction does not matter if you are purchasing or selling there will be a fee. At the time, unconsciously let the fee erosion profit. That is how those platforms profit.
Some people claim reducing the number of frequent transactions, so that the proportion of fees charged can be reduced during the investment process. In this way, continued holding at the time of the sale will result in a big lose.
Bityard stands on the same line as investors
The purpose of an investment is always to hope for profit, Bityard, totally care about our users experience and ideas. Our team has done a lot of work to create an intuitive operating system, which has been appreciated and supported by international users, but Bityard is not satisfied yet so we carefully listened to our platform users and learned that in the process of investment, customers are most concerned about the return on investment. While chasing performance, the cost paid is the reason for eroding performance. Because of this, Bityard decided to stand on the same line with its customers and made adjustments to our transaction fees.
We also adjusted the rules for overnight fees:
For orders with a position of less than 12 hours, there will be no overnight fees. For orders with a position of more than 12 hours and closed after SGT 05:55:00, the platform normally charges the overnight fee. After the adjustment, the overnight holding function is all turned on by default.
The overnight fee calculation formula is:
Overnight Fee = Margin * Leverage * Overnight Fee Ratio
In this way, for most investors, it is only the rules for adjusting the handling fee and overnight fee, and the difference will be obvious after long-term accumulation.
Bityard cares about our customers assets
As you guys can see we pay attention to our customers. In terms of investment cost details, Bityrad stands in the position of customers and reduces handling fees so that investors will not be eroded and profited by excessive investment costs.
Choose to stand on the same line as the investor, from the perspective of the investor, and attach importance to the asset growth of the investor. Our vision is to create a beautiful prospect of common prosperity with customers.
Join Bityard now：https://www.bityard.com/
Dear Hoo users,submitted by Hooexchange to u/Hooexchange [link] [comments]
For BCH and BSV are halving their block rewards this month. Hoo decided to launch campaigns related to the halving. Those who trade BCH and BSV on Hoo will have a chance to share the Halving Gift Packs.
Time: on Apr. 9, 2020- Apr. 13, 2020
Cryptocurrency: BTC, BCH, BSV
Campaign 1: Halving Mining Rewards, Double Trading Bonus
Users who make BTC, BCH and BSV daily transactions during the event are qualified to get the reward. Users whose net buy volume (in USDT) ranked top 3 will get a BCH / BSV Gift Pack!
Campaign 2: Bitcoin Family Financing Session, Active Users Enjoy Interest+ Coupon
Hoo’s BVS/BCH/BTC halving earnings are higher than the other exchanges. In addition, Hoo will pick up 20 active trading users daily in Hoo community and send free Hoo coin + interest coupon. Come and enjoy higher profits!
April 8, 2020
|Year||Total Crypto Market Cap|
|Jan 1, 2015:||$5.5 billion|
|Jan 1, 2017:||$18 billion|
|Crypto Analysis Checklist|
|What is the problem or transactional inefficiency the coin is trying to solve?|
|What is the Dev Team like? What is their track record? How are they funded, organized?|
|How big is the market they're targeting?|
|Who is their competition and what does it do better?|
|What is the roadmap they created and how well have they kept to it?|
|What current product exists?|
|How does the token/coin actually derive value for the holder? Is there a staking mechanism or is it transactional?|
|Is there any new tech, and is it informational or governance based?|
|Can it be easily copied?|
|What are the weaknesses or problems with this crypto?|
|Benefits of Cryptocurrency|
|Decentralization - no need for a third party to agree or validate transactions.|
|Transparency and trust - As blockchain are shared, everyone can see what transactions occur. Useful for something like an online casino.|
|Immutability - It is extremely difficult to change a transaction once its been put onto a blockchain|
|Distributed availability - The system is spread on thousands of nodes on a P2P network, so its difficult to take the system down.|
|Security - cryptographically secured transactions provide integrity|
|Simplification and consolidation - a blockchain can serve as a shared ledger in industries where multiple entities previously kept their own data sources|
|Quicker Settlement - In the financial industry when we're dealing with post-trade settlement, a blockchain can drastically increase the speed of verification|
|Cost - in some cases avoiding a third party verification would drastically reduce costs.|
|Market Cap||$152 Billion||$93 Billion||$7.3 Billion|
|Daily Transactions (last 24hrs)||249,851||1,051,427||70,397|
|Active Addresses (Peak 1Yr)||1,132,000||1,035,000||514,000|
|Metcalfe Ratio (Transactions Based)||2.43||0.08||1.47|
|Metcalfe Ratio (Address Based)||0.12||0.09||0.03|
submitted by pksoni to BitcoinCA [link] [comments]
Bitcoin Cryptocurrency FIFO Gain Excel Calculator
Spreadsheet is ready to calculate FIFO Profits up to 2000 transactions, which can easily be extended further by dragging the formulas as per your requirement.
You will just have to put Transaction Type (buy or sale), Date Transaction, Bitcoin Quantity and Price. Sheet will display important data for every row:
You can purchase this tool from Eloquens.com marketplace for USD $10 only. LIFO (Last in First Out) and Google Sheet versions are also available.
FIFO Profit Excel Calculator: https://www.eloquens.com/tool/3MdIAv/engineering/cryptocurrency-excel-templates/bitcoin-cryptocurrency-fifo-Profit-calculator-for-taxation
LIFO (Last In First Out) Profit Excel Calculator: https://www.eloquens.com/tool/3B4lfy9X/engineering/cryptocurrency-excel-templates/bitcoin-cryptocurrency-lifo-last-in-first-out-Profit-calculator-for-taxation
You can purchase it for Bitcoin, Ethereum, Litecoin or other cryptocurrency from www.fifocalculator.com
Background:submitted by Bitoffer_Official to BitOffer_Official [link] [comments]
On Dec. 17 the bitcoin price broke below the $6,800 support level and swiftly commenced a tumble to the $6,450 support where it bounced of the lower support of the long-term descending channel.
Many analysts cautioned that if bulls failed to buy into the dip, a price drop below the $6,400 increased the possibility of a revisit to $5,500 to $5,350. Fortunately for bulls, the price bounced off the critical trendline and the digital asset could now be a route to flipping the $7,300 resistance back to support.
But let’s take an overview from Nov 1st to today, the bitcoin price dropped sharply by 22.91%. Most of the traders might already lose much money on the bitcoin trading market. Like what I mentioned before, HEDGE is the most important key to form a smart strategy.
(A hedge is an investment to reduce the risk of adverse price movements in an asset. Normally, a hedge consists of taking an offsetting position in a related security.) For example, you hold 1 bitcoin in your wallet. Now the bitcoin price is $7,000, when it drops to $6,000, you will directly lose $1,000. But if you do some hedging works, you will be able to hedge your $1,000 loss. This is the most efficient way to maximize your profit and avoid the loss when holding 1 bitcoin.If you still feel confused about how to hedge the risk of your trading, bitcoin options trading and BTC Leveraged ETF will be your last and the easiest choice.
BitOffer Bitcoin Options is the most profitable and the simplest bitcoin derivatives which can be used for hedging. The time length of BitOffer Options contracts now supports 2mins, 5mins, 1hour, 4hours, 12hours, 1day, 7days. And it requests 0 fees and 0 margin, which minimizes the budget for hedging. In this article, I will take the 7 days as the sample because once you try it, you will find out that the 7-days contract of BitOffer Options is the perfect one for hedging your bitcoin trading.
Here is a simple math:
From Nov 1st to today, the bitcoin price has fallen by $2113.67. As far as I know, the average quotation for 7-days put contract (Expect the market to be bullish) is $170. And the profit formula of buying put is: The strike price- The settlement price-$170= Your profit when you buy put.
If I have held 1 bitcoin since Nov 1st, and I continued buying 1 7-days put contract, how much loss would I save from the bitcoin price dumped during those 48 days?
And How Much Would I Earn if I continued buying 2 7-days put contracts?
The answer is:
The budget of buying put contracts: $170*7*2=$2,380
So, my profit if I continued buying 2 7-days put contracts would be: $4987.3-$2,380-$2113.67= $493.63
In conclusion, when the bitcoin price dumped in this period, as a normal holder, we can use the easiest hedging tool ever, BitOffer Bitcoin Options to avoid the loss and even maximize the profit with only a small amount budget because BitOffer Bitcoin Options requests 0 fees and 0 margins.
So back 10 months ago I posted this comment and you responded with the most reasoned response about the entire Bitcoin network emitting less carbon than a single 747. It made me feel much better about Bitcoin. It also confused me this past few weeks with people posting stories stating that Bitcoin will soon use nearly 0.1% of the world's energy and already consumes more power than every single solar panel in the entire world produces. Those two don't really square, so I looked back and the article you reference was from 2014. I'm curious if you've reevaluated your stance on bitcoin or perhaps have some insight that the current hysteria is just overblown?Since I've spent the time doing some napkin math (I could be horribly wrong on this, someone please correct me!), I thought I should make this post public for everone to evaulate my maths and my reasoning.
In 2017, about 143.85 billion gallons (or about 3.40 billion barrels1) of finished motor gasoline were consumed2 in the United States, a daily average of about 391.40 million gallons (or about 9.32 million barrels per day).This would be equivilent of 6.33 days of gasoline usage in the USA for a single day of mining.
Calculate Bitcoin (BTC) mining profitability in realtime based on hashrate, power consumption and electricity cost. BTC exchange rates, mining pools. BTC exchange rates, mining pools. $12,976.61 $62.75 $412.92 $126.63 $5.37 $72.44 $55.67 Follow @WhatToMine dark mode Accurate Bitcoin mining calculator trusted by millions of cryptocurrency miners since May 2013 - developed by an OG Bitcoin miner looking to maximize on mining profits and calculate ROI for new ASIC miners. Updated in 2020, the newest version of the Bitcoin mining calculator makes it simple and easy to quickly calculate mining profitability for your Bitcoin mining hardware. Bitcoin Profit muss jede Person, mit denen wir zu tun haben, überprüfen, um Spam zu verhindern, was leider ein Nachteil aller seriösen Anbieter ist. Der erste Schritt der Verifizierung erfordert vom Bewerber, dass er auf einen per E-Mail verschickten Link klickt, nachdem das Registrierungsformular abgeschickt wurde. Der zweite Schritt lautet, zu überprüfen, ob Sie tatsächlich in dem Land ... Very simple. Consider you bought 0.5BTC at the price of 1BTC = 12000$ today. So tomorrow 1BTC increases its value to 12500$. So now if you want to calculate how much profit or loss you have incurred use the same profit/loss formula you use. Profit... How Does The Bitcoin Profit Calculator Work? In order to use this Bitcoin profit calculator - you need to enter the amount you were willing to invest and the date you were willing to invest it at. Based on those two inputs, the calculator will determine the profits (or loss) you’d have made since then. It expresses the profit in terms of dollars as well as the percentage of the Returns on ...
[index]          
https://www.coinexchange.io/?r=766a8dc8 -- CoinExchange Account https://www.cryptopia.co.nz/Register?referrer=kelliducloux1 --- Open your free trading accoun... basic explanation and buying and selling bitcoin for profit. https://cutt.us/bsgL5 Interest is paid to your account balance each hour 7 days a week. You can either reinvest from your available balance to increase your ... Video tutorial: How to use this calculator and calculate profits, losses, and fees on BitMEX (margin trading)? Use new our smart BitMEX RISK calculator. How to hedge Bitcoins at BitMEX exchange ... How to Calculate Stop Loss and Take Profit Easily // set profit target limit order forex stocks investing day trading Want more help from David Moadel? Conta...