After the Bitcoin crash: do others fear me for greed?
At 6:30 pm on March 12, Bitcoin dropped from $ 7211 to $ 5555.55. The bitcoin price dived again this morning, slumping nearly $ 2,000 again in half an hour, the lowest fell to $ 3,782.13, a drop of more than 40% in 24 hours. According to the data of the contract emperor, only Huobi, OKEx, Binance, and BitMEX exchanges had a daily short position of 3.133 billion US dollars, which reached the highest in a single day in history. The number of liquidated positions exceeded 110,000, which was also the highest in a single day. Also on March 12, the S & P index fell 260.74 points, triggering the fusing mechanism for the second time this week. The Dow hit its largest decline in history, at 2352.6 points. The Nasdaq fell 750.25 points to 7201.8 points. This is the third time in the history of US stocks. This fuse has been 33 years since the first fuse, but only 4 days have passed since the last fuse. Buffett shouted, "I only lived this way in 89 years." It is reported that Buffett lost $ 6.8 billion last night. According to incomplete statistics, with the exception of the United States, the stock markets of 11 countries including Canada, Mexico, Japan, South Korea, Thailand, India, the Philippines, Indonesia, Brazil, and Pakistan plummeted. The five largest US technology companies, Apple, Amazon, Google, Facebook, and Microsoft, had a cumulative market value of $ 416.63 billion. The Bloomberg Billionaires Index shows that the top 15 richest people in the world lost a total of $ 46.4 billion. Market panic or pullback demand? Regarding the meltdown of U.S. stocks this week, Yang Delong, chief economist of Qianhai Open Source Fund, believes that the spread of the epidemic is not the main reason. It is more a decade of bull market for U.S. stocks. Some factors driving the rise of U.S. stocks are quietly changing, such as the Federal Reserve ’s interest rate There is not much space. Regarding this crazy drop in Bitcoin, Apocalypse Capital told InfoQ that there are two main reasons for this drop in Bitcoin: on the one hand, the bearish demand caused by the expected global economic downturn, and on the other hand, Bitcoin Callback requirements themselves. As we all know, Bitcoin will be halved in the second half of the year, but the trading market pays attention to speculation expectations. This round of rise has essentially halved the market. After hitting a high of 10500, Bitcoin is facing a callback demand. Of course, this round of downtrends is so rapid and there are only a handful of recurrences in the history of Bitcoin, which are inextricably linked to the decline in global stock markets, both of which are the result of expectations of a bearish global economy. However, Johnson Xu, chief analyst of TokenInsight, told InfoQ that the Bitcoin dip was mainly due to market panic, because some market participants bought bitcoins by buying mining machines, borrowing, etc., and expected to reduce their expectations by half. A linkage effect caused by everyone being too optimistic about the market. The market is overhyped because Bitcoin is halved, and some market participants are afraid to miss the opportunity to enter the market irrationally. The current market slump is driven by strong irrational behavior, which translates into a rapid downside response and quickly depletes market buyers' liquidity (flattening down). When the overall financial market panic or other unexpected events are caused by the New Crown virus and the global economic slowdown, market participants often seek to withdraw assets such as stocks and bitcoins and convert these assets into cash (cash is king). So has the recent gold sell-off. When the market panics, people ask for cash in the beginning instead of investing in safe-haven assets such as gold. At the same time, because gold is considered a high-quality asset, investors usually start with liquidity crunch and market panic. Cash in on good assets (because inferior assets are more difficult to sell in panic times). The Bitcoin crash this time has a certain connection with the decline in global stock markets, because the entire financial market is a globalized market, and there is more or less linkage between each asset. In addition, Forbes speculated that it may be because PlusToken scammers transferred bitcoins worth more than 100 million US dollars to the mixer, and then sold bitcoins, resulting in rising market supply.
Other people are greedy, I am afraid, others are afraid of me, greedy? In this case, should investors still expect "halving the market"? Johnson Xu believes that there is no such thing as a "half quotation", and most market participants are too optimistic about the halving of Bitcoin. Price fluctuations are not necessarily caused by halving, but may be caused by the sum of other factors. When everyone is saying that they are optimistic about the market, the existence of risk is ignored in the subconscious. At this time, the risk will be actually reflected, and the upside will gradually shrink. Bitcoin halving was written into the code, and it was not an accident. Bitcoin should be halved in a rational way. It is worth looking forward to, but not overly interpreting and speculation. However, Tianqi Capital believes that this plunge is a callback period for bitcoin's halving of the market, and each round of sharp decline also indicates the opportunity of the market outlook: cheap chips will be hoarded, waiting for the next wave of hype and explosion. Therefore, Tianqi Capital still believes that the market outlook of Bitcoin is worth looking forward to, provided that it is not frightened by the current fierce washing of the chips, after all, when the bear market is the worst, it is also when gold is everywhere. Regarding the future trend of Bitcoin, Apocalypse Capital stated that it should judge according to the current trend. In this round of market, Apocalypse Capital initially chose to follow the downward trend of May 18, and Bitcoin has gradually dropped from a high of 10,000 to 3150 points, so the big support level predicted by this round happens to be 3700 today. Near the point. Data monitoring shows that some funds are involved in this price range. But whether it can hold on to this support remains to be tested. If the 3700 support cannot be maintained, it is very likely that it will hit the US $ 2000 level. Tianqi Capital believes that this is the market's last line of defense. Long-term investment is recommended to buy some relatively stable targets, such as BTC, ETH, etc. The bear market will eliminate many currencies, but if it survives, it will shine in the next round. Johnson Xu believes that the plunge is also a test to promote the healthy development of the industry. Extreme market is a test for the entire industry, especially for infrastructure, risk management, etc., so it is still optimistic and supports the development of the industry for a long time. For current investors, Johnson Xu offers the following suggestions:
Other people are greedy, I am afraid, others are afraid of me, greedy.
Global financial markets have also undergone major changes. From the data point of view, I don't think Bitcoin has the attributes of a safe-haven asset, but this market can test whether Bitcoin has a certain risk-avoidance capability. This is a global world. We need to analyze various markets, not just the digital asset market.
In the long run, we are still optimistic about the digital asset industry.
Does Bitcoin have a fusing mechanism? On March 9, after the U.S. stock market crash triggered the fusing mechanism, the market began a discussion of "whether Bitcoin should set up a fusing mechanism". But at present, most people are not optimistic about the Bitcoin fusing mechanism. OKEx CEO Jay Hao said that the fusing mechanism is difficult to implement in the digital currency market. In the face of a highly volatile market, setting the fuse point is a difficult problem. At the same time, for a 7 * 24h market, when a certain exchange breaks down, the price difference between the digital currencies between the platforms will increase, leading to arbitrage, and the fuse mechanism will eventually become a decoration. Du Wan, the co-founder of Contract Emperor, also said that it is unrealistic to use a fuse mechanism in the currency circle. The fusing mechanism first violates the original intention of the decentralization of the blockchain, and at the same time, it will touch the interests of the top of the currency circle ecological chain. For example, large trading teams can no longer use pins to obtain large profits. When the market is panic, exchanges with a fuse mechanism may lose traffic to exchanges without a fuse mechanism because of the run effect of traders. It can be seen that the current risk aversion measures in the traditional stock market are difficult to transfer to the fickle currency market in a short time, and the regulation of this market still has a long way to go. Investors should still be cautious when investing.
SophonEX — a commission-free crypto to crypto exchange, for the decentralized community. SophonEX is a group of programming geeks, previously working for Facebook, Google, KCG, JP Morgan, etc. ‘Digital natives’ could be a pretty fit description for us. The majority of our founding team members are veterans of ACM-ICPC and TopCoder competitions, with great enthusiasm in coding, data structure, algorithm and mathematics When we first came across bitcoin’s technical paper, we were fascinated by its engineering beauty and philosophy depth. From there, we start to imagine a decentralized world where trust doesn’t comes with a charge, and trade doesn’t comes with a commission. After months of sophisticated design, it’s no longer a dream… It becomes real, in SophonEX. Get priority access Want more details about our team? → Team Profile
Mission
Make crypto trading frictionless and free. We believe that charging per-trade commission (no matter 0.1% or a staggering 3%) is evil in the decentralized world. Decentralized services need to be commission-free; and this spreading freedom is beneficial to the human society.
Our Values — How we do things around our offices?
Focus on impact and priority
Delay gratification
Relentlessly Optimistic and Transparent
Customer first
Be Bold and Open
Why make SophonEX?
The time when the founding team came to know and started researching on bitcoin whitepaper can be dated back to the mid of 2017. At the end of that year, we initiated a quantitative fund, focusing on the bitcoin arbitrage across different exchanges worldwide. Our fund size (prop + LP invested) is about ~3000 BTC in maximum, and we traded across nearly 20 exchanges, including: BitFlyer, Coincheck, Quoinex(liquid), Zaif, Fisco, Binance, Bitfinex, GDAX(coinbase pro), Gate.io, Huobi.pro, OKEX, Poloniex, Kraken, Bithumb, Bitstamp, HitBTC. We wrote the arbitrage and quant trading system mainly in C++, and deployed it on multiple AWS ECs to colocate with these exchange servers. Our fund trading system is highly performant and reliable, making tens of thousands of orders per day. This high performance and reliability brings us to top5 in terms of 24-hr volume in the ranking. Despite of the success, it is also due to the 10-month trading experience, we came to realize the facts that all the de facto crypto exchanges share several similar flaws, which we concludes as below:
Clumsy and out-of-date backend architecture with poor engineering quality. E.g. most of the existing exchanges are written in old style PHP or J2EE or other stacks, which makes it hard to ensure high performance and reliability;
Digital Asset Security: hacking and security incidents happen every now and then;
APIs (restful and websocket) are badly designed and lagging. Based on our own experience, some of those APIs are being updated without prior announcements, which resulted in mal-functioning of our strategy occasionally;
Most importantly, the traditional trading commission is outrageously high. In traditional stock exchanges (e.g. Nasdaq, NYSE, etc), trading commission is ~0.02%, and the brokerage commission (e.g. Charles Schwab, Scottrade, Interactive Broker, etc) is charged at $0~6.95 flat fee Fees List. A younger stock brokerage, Robinhood launched in 2013, brands itself as commission free broker, which inspired us.
In light of this, we are dedicated to creating a brand-new crypto exchange with zero commission, high engineering quality and best security from the design. We’re still a centralized exchange with the cutting-edge and up-to-date engineering standards. Whereas the SophonEX team is conceiving a roadmap to gradually switch to a hybrid, and then fully decentralized exchange in the near future. SophonEX project was kicked off in June 2018, and aims to officially launch in March 2019. Prelaunch registration is available now: Priority access
SophonEX — a commission-free crypto to crypto exchange, for the decentralized community. SophonEX is a group of programming geeks, previously working for Facebook, Google, KCG, JP Morgan, etc. ‘Digital natives’ could be a pretty fit description for us. The majority of our founding team members are veterans of ACM-ICPC and TopCoder competitions, with great enthusiasm in coding, data structure, algorithm and mathematics When we first came across bitcoin’s technical paper, we were fascinated by its engineering beauty and philosophy depth. From there, we start to imagine a decentralized world where trust doesn’t comes with a charge, and trade doesn’t comes with a commission. After months of sophisticated design, it’s no longer a dream… It becomes real, in SophonEX. Get priority access Want more details about our team? → Team Profile
Mission
Make crypto trading frictionless and free. We believe that charging per-trade commission (no matter 0.1% or a staggering 3%) is evil in the decentralized world. Decentralized services need to be commission-free; and this spreading freedom is beneficial to the human society.
Our Values — How we do things around our offices?
Focus on impact and priority
Delay gratification
Relentlessly Optimistic and Transparent
Customer first
Be Bold and Open
Why make SophonEX?
The time when the founding team came to know and started researching on bitcoin whitepaper can be dated back to the mid of 2017. At the end of that year, we initiated a quantitative fund, focusing on the bitcoin arbitrage across different exchanges worldwide. Our fund size (prop + LP invested) is about ~3000 BTC in maximum, and we traded across nearly 20 exchanges, including: BitFlyer, Coincheck, Quoinex(liquid), Zaif, Fisco, Binance, Bitfinex, GDAX(coinbase pro), Gate.io, Huobi.pro, OKEX, Poloniex, Kraken, Bithumb, Bitstamp, HitBTC. We wrote the arbitrage and quant trading system mainly in C++, and deployed it on multiple AWS ECs to colocate with these exchange servers. Our fund trading system is highly performant and reliable, making tens of thousands of orders per day. This high performance and reliability brings us to top5 in terms of 24-hr volume in the ranking. Despite of the success, it is also due to the 10-month trading experience, we came to realize the facts that all the de facto crypto exchanges share several similar flaws, which we concludes as below:
Clumsy and out-of-date backend architecture with poor engineering quality. E.g. most of the existing exchanges are written in old style PHP or J2EE or other stacks, which makes it hard to ensure high performance and reliability;
Digital Asset Security: hacking and security incidents happen every now and then;
APIs (restful and websocket) are badly designed and lagging. Based on our own experience, some of those APIs are being updated without prior announcements, which resulted in mal-functioning of our strategy occasionally;
Most importantly, the traditional trading commission is outrageously high. In traditional stock exchanges (e.g. Nasdaq, NYSE, etc), trading commission is ~0.02%, and the brokerage commission (e.g. Charles Schwab, Scottrade, Interactive Broker, etc) is charged at $0~6.95 flat fee Fees List. A younger stock brokerage, Robinhood launched in 2013, brands itself as commission free broker, which inspired us.
In light of this, we are dedicated to creating a brand-new crypto exchange with zero commission, high engineering quality and best security from the design. We’re still a centralized exchange with the cutting-edge and up-to-date engineering standards. Whereas the SophonEX team is conceiving a roadmap to gradually switch to a hybrid, and then fully decentralized exchange in the near future. SophonEX project was kicked off in June 2018, and aims to officially launch in March 2019. Prelaunch registration is available now: Priority access
Big Events And General Trend Of The Crypto Market In the 2nd Half Of 2019
On November 15, 2018, the BCH hard fork led to the “earthquake” of the crypto market, and the price started a bluff slump, nowhere has this seen to be more evident than in the change of BTC price, falling from $6,500 to $3,155 in just a month. However, after entering 2019, Bitcoin rallied through 4,000 US dollars, 6,000 US dollars and 8,000 US dollars in three months, and it has broken through $10,000, continuously hitting the new highs within the year. On the morning of June 22, BTC successfully rose above $10,000 for the first time in 18 months. As of June 26, BTC increased more than 246% during the year. (Source: 58COIN Exchange) (BTC Chart, 2019) Compared with gold, crude oil, stocks, and other mainstream assets, the growth rate of Bitcoin has more than doubled this year. The return rate of Bitcoin is close to 10 times that of the stock market this year, a complete victory over other markets. Bitcoin Surges Past $13,000, Hitting A 18-Month High Why has BTC surged sharply in the past three months? There is a variety of opinions regarding the matter. 1) Some analysts believe that the launch of Libra by the social media giant Facebook is pushing the winning streak of Bitcoin price. Besides, the launch plan of the physically-settled bitcoin futures contracts by Bakkt serves as another big part of the price surge. 2) According to the experience, every time the bitcoin is halved, the digital market will welcome a bull market. 3) Some believe that hyperinflation is a catalyst for the development of bitcoin. 4) It is said that the most important reason for this round of rising is the continuous involvements of various types of investment financial institutions, such as Fidelity, it has stepped into the BTC mining, etc. 5) Data shows that more new investors are attracted by the digital currency. Since there is a continuous USDT premium, the willingness of the out-floor to enter the market is strong. 6) From the technical perspective, Bitcoin has maintained a bullish parabolic trend, and it is expected to continue to rise once it breaks through the previous high. 7) Some even hold the grounds that the Sino-US trade war has led to the depreciation of the renminbi, and a large number of funds to choose bitcoin for hedging, becoming one of the reasons that result in the surge in BTC prices. 8) Of course, the abovementioned opinions are some of the reasons for the skyrocketing of bitcoin. Undoubtedly, the bull market of BTC has indeed arrived! Research into the root cause is meaningless, as people will always find reasons for price rise, and the rise does not need a reason. Entering The Bull Market, Five Hotspots To Follow 1. Bakkt is to be Launched Bakkt's highly regarded bitcoin futures plan was initially launched in November 2018 and has been pushed back several times due to delays in obtaining regulatory approval from the U.S. CFTC (Commodity Futures Trading Commission). Recently, it was reported that Bakkt plans to launch physically-settled of bitcoin futures contracts in July. Bakkt's on-line has been widely interpreted by various parties as the fuse for the arrival of the bull market. The main reasons are: 1) Providing a compliant and reliable access channel for the “regular investment army”; 2) Physical delivery regulates the market order and hangs a “Sword of Damocles” on the shorts. Bakkt was the best and even the only admission channel for the mainstream investors before the bitcoin ETFs passed. On Tuesday, June 25, the US Commodity Futures Trading Commission (CFTC) has approved bitcoin derivatives provider LedgerX to provide physically-settled bitcoin futures contracts. It is expected that Bakkt will be launched soon. 2. Bitcoin ETFs will be Approved Investors are not strangers to the Bitcoin ETF, it is one that mimics the price of the most popular digital currency in the world. This allows investors to buy into the ETF without going through the complicated process of trading bitcoin itself. As of now, there have been dozens of ETF proposals, but they were all been rejected by the SEC. Investors often compare bitcoin ETFs to gold ETFs and the price of the latter has skyrocketed since the first launch. Therefore, after the approval of bitcoin ETFs, a large influx of institutional investors will enter with a large number of investment funds, which will certainly serve as the driving force of the rise of bitcoin price. 3. The Popular Influx of Large Companies In addition to Bakkt and ETF, there are many other projects that can help institutional funds flood into the cryptocurrency market. This is one of the most important advances in terms of market confidence and price impact. Various ETF-like products have been very active. BinckBank offers Bitcoin ETN (Bitcoin Exchange Trading Voucher), and the SIX Swiss Exchange in Switzerland is approved for listing cryptocurrency exchange-traded products (ETPs) that allow investors to hold a package of various digital currency combinations... In the next few years, the largest global financial companies are also expected to launch a variety of encryption platforms. For example, Fidelity, one of the world's largest asset management companies, the Stuttgart Stock Exchange, the second largest exchange in Germany, and the Nasdaq in the United States, will provide bitcoin futures services. 4. Quality Projects and Technical Breakthroughs Accelerate Market Rally For investors, it is the most unwilling to go through a bear market. But in turn, the bear market is also a sieve that cleans up all the fraud and junk items in the cryptocurrency market, which is crucial for the industry. According to incomplete statistics, in 2018, more than 1,000 cryptocurrency projects were phased out, and countless digital currency exchanges were eliminated. Exchanges that completed the competition for survival of the fittest have been working hard to develop the products they promised over the past year. Therefore, quality projects and technical breakthroughs will surely have a positive impact on the long-term market. 5. Increased Supervision and Compliance The rapid emergence and development of cryptocurrencies have led the government to lag far behind in terms of regulation. Since there are huge risks in the daily transactions of investors, some governments have banned such transactions. Good supervision on the digital market is urgently needed to make the market more reliable and stable, so as to realize the real potential of the blockchain. Therefore, “supervision” is still one of the keywords in the second half of 2019. The beginning of the bull market has brought more hope and confidence in the market. Bitcoin has been well received by investors regardless of spot or futures. For the bitcoin price in the second half of the year, a digital currency analyst suggested that there are technical indicators show that bitcoin may rise to $60,000. Zhao Changpeng, CEO of the Binance, said: "There is no upper limit on the price of bitcoin." The bull market has started, however, compared with the past, this round of bull market boasts two main features: 1) A lot of institutional investors have indeed participated in this bull market, which indicates that bitcoin is gradually accepted by the mainstream financial investors; 2) The correlation between the bitcoin and other financial market core factors such as the conversion rate has become stronger and is gradually more affected by the international financial situation. As the volume of the bitcoin market becomes larger, it is becoming more standard and international. In a word, the bull market is coming, haven’t you got involved in bitcoin investment? 58COIN exchange is the right choice for you, it has launched the USDT contract and delivery contract based on the innovation of perpetual contract. Besides, with the rally of the cryptocurrency price, its cloud mining products have been well received by the market. Whether you are an adventurous or a conservative investor, you can always find a tailored product for you at 58COIN exchange. Website: https://www.58ex.com/ Facebook: https://www.facebook.com/coin.58COIN Twitter: https://twitter.com/58_coin Telegram: https://t.me/official58
SophonEX — a commission-free crypto to crypto exchange, for the decentralized community. SophonEX is a group of programming geeks, previously working for Facebook, Google, KCG, JP Morgan, etc. ‘Digital natives’ could be a pretty fit description for us. The majority of our founding team members are veterans of ACM-ICPC and TopCoder competitions, with great enthusiasm in coding, data structure, algorithm and mathematics When we first came across bitcoin’s technical paper, we were fascinated by its engineering beauty and philosophy depth. From there, we start to imagine a decentralized world where trust doesn’t comes with a charge, and trade doesn’t comes with a commission. After months of sophisticated design, it’s no longer a dream… It becomes real, in SophonEX. Get priority access Want more details about our team? → Team Profile
Mission
Make crypto trading frictionless and free. We believe that charging per-trade commission (no matter 0.1% or a staggering 3%) is evil in the decentralized world. Decentralized services need to be commission-free; and this spreading freedom is beneficial to the human society.
Our Values — How we do things around our offices?
Focus on impact and priority
Delay gratification
Relentlessly Optimistic and Transparent
Customer first
Be Bold and Open
Why make SophonEX?
The time when the founding team came to know and started researching on bitcoin whitepaper can be dated back to the mid of 2017. At the end of that year, we initiated a quantitative fund, focusing on the bitcoin arbitrage across different exchanges worldwide. Our fund size (prop + LP invested) is about ~3000 BTC in maximum, and we traded across nearly 20 exchanges, including: BitFlyer, Coincheck, Quoinex(liquid), Zaif, Fisco, Binance, Bitfinex, GDAX(coinbase pro), Gate.io, Huobi.pro, OKEX, Poloniex, Kraken, Bithumb, Bitstamp, HitBTC. We wrote the arbitrage and quant trading system mainly in C++, and deployed it on multiple AWS ECs to colocate with these exchange servers. Our fund trading system is highly performant and reliable, making tens of thousands of orders per day. This high performance and reliability brings us to top5 in terms of 24-hr volume in the ranking. Despite of the success, it is also due to the 10-month trading experience, we came to realize the facts that all the de facto crypto exchanges share several similar flaws, which we concludes as below:
Clumsy and out-of-date backend architecture with poor engineering quality. E.g. most of the existing exchanges are written in old style PHP or J2EE or other stacks, which makes it hard to ensure high performance and reliability;
Digital Asset Security: hacking and security incidents happen every now and then;
APIs (restful and websocket) are badly designed and lagging. Based on our own experience, some of those APIs are being updated without prior announcements, which resulted in mal-functioning of our strategy occasionally;
Most importantly, the traditional trading commission is outrageously high. In traditional stock exchanges (e.g. Nasdaq, NYSE, etc), trading commission is ~0.02%, and the brokerage commission (e.g. Charles Schwab, Scottrade, Interactive Broker, etc) is charged at $0~6.95 flat fee Fees List. A younger stock brokerage, Robinhood launched in 2013, brands itself as commission free broker, which inspired us.
In light of this, we are dedicated to creating a brand-new crypto exchange with zero commission, high engineering quality and best security from the design. We’re still a centralized exchange with the cutting-edge and up-to-date engineering standards. Whereas the SophonEX team is conceiving a roadmap to gradually switch to a hybrid, and then fully decentralized exchange in the near future. SophonEX project was kicked off in June 2018, and aims to officially launch in March 2019. Prelaunch registration is available now: Priority access
SophonEX — a commission-free crypto to crypto exchange, for the decentralized community. SophonEX is a group of programming geeks, previously working for Facebook, Google, KCG, JP Morgan, etc. ‘Digital natives’ could be a pretty fit description for us. The majority of our founding team members are veterans of ACM-ICPC and TopCoder competitions, with great enthusiasm in coding, data structure, algorithm and mathematics When we first came across bitcoin’s technical paper, we were fascinated by its engineering beauty and philosophy depth. From there, we start to imagine a decentralized world where trust doesn’t comes with a charge, and trade doesn’t comes with a commission. After months of sophisticated design, it’s no longer a dream… It becomes real, in SophonEX. Get priority access Want more details about our team? → Team Profile
Mission
Make crypto trading frictionless and free. We believe that charging per-trade commission (no matter 0.1% or a staggering 3%) is evil in the decentralized world. Decentralized services need to be commission-free; and this spreading freedom is beneficial to the human society.
Our Values — How we do things around our offices?
Focus on impact and priority
Delay gratification
Relentlessly Optimistic and Transparent
Customer first
Be Bold and Open
Why make SophonEX?
The time when the founding team came to know and started researching on bitcoin whitepaper can be dated back to the mid of 2017. At the end of that year, we initiated a quantitative fund, focusing on the bitcoin arbitrage across different exchanges worldwide. Our fund size (prop + LP invested) is about ~3000 BTC in maximum, and we traded across nearly 20 exchanges, including: BitFlyer, Coincheck, Quoinex(liquid), Zaif, Fisco, Binance, Bitfinex, GDAX(coinbase pro), Gate.io, Huobi.pro, OKEX, Poloniex, Kraken, Bithumb, Bitstamp, HitBTC. We wrote the arbitrage and quant trading system mainly in C++, and deployed it on multiple AWS ECs to colocate with these exchange servers. Our fund trading system is highly performant and reliable, making tens of thousands of orders per day. This high performance and reliability brings us to top5 in terms of 24-hr volume in the ranking. Despite of the success, it is also due to the 10-month trading experience, we came to realize the facts that all the de facto crypto exchanges share several similar flaws, which we concludes as below:
Clumsy and out-of-date backend architecture with poor engineering quality. E.g. most of the existing exchanges are written in old style PHP or J2EE or other stacks, which makes it hard to ensure high performance and reliability;
Digital Asset Security: hacking and security incidents happen every now and then;
APIs (restful and websocket) are badly designed and lagging. Based on our own experience, some of those APIs are being updated without prior announcements, which resulted in mal-functioning of our strategy occasionally;
Most importantly, the traditional trading commission is outrageously high. In traditional stock exchanges (e.g. Nasdaq, NYSE, etc), trading commission is ~0.02%, and the brokerage commission (e.g. Charles Schwab, Scottrade, Interactive Broker, etc) is charged at $0~6.95 flat fee Fees List. A younger stock brokerage, Robinhood launched in 2013, brands itself as commission free broker, which inspired us.
In light of this, we are dedicated to creating a brand-new crypto exchange with zero commission, high engineering quality and best security from the design. We’re still a centralized exchange with the cutting-edge and up-to-date engineering standards. Whereas the SophonEX team is conceiving a roadmap to gradually switch to a hybrid, and then fully decentralized exchange in the near future. SophonEX project was kicked off in June 2018, and aims to officially launch in March 2019. Prelaunch registration is available now: Priority access
SophonEX — a commission-free crypto to crypto exchange, for the decentralized community. SophonEX is a group of programming geeks, previously working for Facebook, Google, KCG, JP Morgan, etc. ‘Digital natives’ could be a pretty fit description for us. The majority of our founding team members are veterans of ACM-ICPC and TopCoder competitions, with great enthusiasm in coding, data structure, algorithm and mathematics When we first came across bitcoin’s technical paper, we were fascinated by its engineering beauty and philosophy depth. From there, we start to imagine a decentralized world where trust doesn’t comes with a charge, and trade doesn’t comes with a commission. After months of sophisticated design, it’s no longer a dream… It becomes real, in SophonEX. Get priority access Want more details about our team? → Team Profile
Mission
Make crypto trading frictionless and free. We believe that charging per-trade commission (no matter 0.1% or a staggering 3%) is evil in the decentralized world. Decentralized services need to be commission-free; and this spreading freedom is beneficial to the human society.
Our Values — How we do things around our offices?
Focus on impact and priority
Delay gratification
Relentlessly Optimistic and Transparent
Customer first
Be Bold and Open
Why make SophonEX?
The time when the founding team came to know and started researching on bitcoin whitepaper can be dated back to the mid of 2017. At the end of that year, we initiated a quantitative fund, focusing on the bitcoin arbitrage across different exchanges worldwide. Our fund size (prop + LP invested) is about ~3000 BTC in maximum, and we traded across nearly 20 exchanges, including: BitFlyer, Coincheck, Quoinex(liquid), Zaif, Fisco, Binance, Bitfinex, GDAX(coinbase pro), Gate.io, Huobi.pro, OKEX, Poloniex, Kraken, Bithumb, Bitstamp, HitBTC. We wrote the arbitrage and quant trading system mainly in C++, and deployed it on multiple AWS ECs to colocate with these exchange servers. Our fund trading system is highly performant and reliable, making tens of thousands of orders per day. This high performance and reliability brings us to top5 in terms of 24-hr volume in the ranking. Despite of the success, it is also due to the 10-month trading experience, we came to realize the facts that all the de facto crypto exchanges share several similar flaws, which we concludes as below:
Clumsy and out-of-date backend architecture with poor engineering quality. E.g. most of the existing exchanges are written in old style PHP or J2EE or other stacks, which makes it hard to ensure high performance and reliability;
Digital Asset Security: hacking and security incidents happen every now and then;
APIs (restful and websocket) are badly designed and lagging. Based on our own experience, some of those APIs are being updated without prior announcements, which resulted in mal-functioning of our strategy occasionally;
Most importantly, the traditional trading commission is outrageously high. In traditional stock exchanges (e.g. Nasdaq, NYSE, etc), trading commission is ~0.02%, and the brokerage commission (e.g. Charles Schwab, Scottrade, Interactive Broker, etc) is charged at $0~6.95 flat fee Fees List. A younger stock brokerage, Robinhood launched in 2013, brands itself as commission free broker, which inspired us.
In light of this, we are dedicated to creating a brand-new crypto exchange with zero commission, high engineering quality and best security from the design. We’re still a centralized exchange with the cutting-edge and up-to-date engineering standards. Whereas the SophonEX team is conceiving a roadmap to gradually switch to a hybrid, and then fully decentralized exchange in the near future. SophonEX project was kicked off in June 2018, and aims to officially launch in March 2019. Prelaunch registration is available now: Priority access
SophonEX — a commission-free crypto to crypto exchange, for the decentralized community. SophonEX is a group of programming geeks, previously working for Facebook, Google, KCG, JP Morgan, etc. ‘Digital natives’ could be a pretty fit description for us. The majority of our founding team members are veterans of ACM-ICPC and TopCoder competitions, with great enthusiasm in coding, data structure, algorithm and mathematics When we first came across bitcoin’s technical paper, we were fascinated by its engineering beauty and philosophy depth. From there, we start to imagine a decentralized world where trust doesn’t comes with a charge, and trade doesn’t comes with a commission. After months of sophisticated design, it’s no longer a dream… It becomes real, in SophonEX. Get priority access Want more details about our team? → Team Profile
Mission
Make crypto trading frictionless and free. We believe that charging per-trade commission (no matter 0.1% or a staggering 3%) is evil in the decentralized world. Decentralized services need to be commission-free; and this spreading freedom is beneficial to the human society.
Our Values — How we do things around our offices?
Focus on impact and priority
Delay gratification
Relentlessly Optimistic and Transparent
Customer first
Be Bold and Open
Why make SophonEX?
The time when the founding team came to know and started researching on bitcoin whitepaper can be dated back to the mid of 2017. At the end of that year, we initiated a quantitative fund, focusing on the bitcoin arbitrage across different exchanges worldwide. Our fund size (prop + LP invested) is about ~3000 BTC in maximum, and we traded across nearly 20 exchanges, including: BitFlyer, Coincheck, Quoinex(liquid), Zaif, Fisco, Binance, Bitfinex, GDAX(coinbase pro), Gate.io, Huobi.pro, OKEX, Poloniex, Kraken, Bithumb, Bitstamp, HitBTC. We wrote the arbitrage and quant trading system mainly in C++, and deployed it on multiple AWS ECs to colocate with these exchange servers. Our fund trading system is highly performant and reliable, making tens of thousands of orders per day. This high performance and reliability brings us to top5 in terms of 24-hr volume in the ranking. Despite of the success, it is also due to the 10-month trading experience, we came to realize the facts that all the de facto crypto exchanges share several similar flaws, which we concludes as below:
Clumsy and out-of-date backend architecture with poor engineering quality. E.g. most of the existing exchanges are written in old style PHP or J2EE or other stacks, which makes it hard to ensure high performance and reliability;
Digital Asset Security: hacking and security incidents happen every now and then;
APIs (restful and websocket) are badly designed and lagging. Based on our own experience, some of those APIs are being updated without prior announcements, which resulted in mal-functioning of our strategy occasionally;
Most importantly, the traditional trading commission is outrageously high. In traditional stock exchanges (e.g. Nasdaq, NYSE, etc), trading commission is ~0.02%, and the brokerage commission (e.g. Charles Schwab, Scottrade, Interactive Broker, etc) is charged at $0~6.95 flat fee Fees List. A younger stock brokerage, Robinhood launched in 2013, brands itself as commission free broker, which inspired us.
In light of this, we are dedicated to creating a brand-new crypto exchange with zero commission, high engineering quality and best security from the design. We’re still a centralized exchange with the cutting-edge and up-to-date engineering standards. Whereas the SophonEX team is conceiving a roadmap to gradually switch to a hybrid, and then fully decentralized exchange in the near future. SophonEX project was kicked off in June 2018, and aims to officially launch in March 2019. Prelaunch registration is available now: Priority access
SophonEX — a commission-free crypto to crypto exchange, for the decentralized community. SophonEX is a group of programming geeks, previously working for Facebook, Google, KCG, JP Morgan, etc. ‘Digital natives’ could be a pretty fit description for us. The majority of our founding team members are veterans of ACM-ICPC and TopCoder competitions, with great enthusiasm in coding, data structure, algorithm and mathematics When we first came across bitcoin’s technical paper, we were fascinated by its engineering beauty and philosophy depth. From there, we start to imagine a decentralized world where trust doesn’t comes with a charge, and trade doesn’t comes with a commission. After months of sophisticated design, it’s no longer a dream… It becomes real, in SophonEX. Get priority access Want more details about our team? → Team Profile
Mission
Make crypto trading frictionless and free. We believe that charging per-trade commission (no matter 0.1% or a staggering 3%) is evil in the decentralized world. Decentralized services need to be commission-free; and this spreading freedom is beneficial to the human society.
Our Values — How we do things around our offices?
Focus on impact and priority
Delay gratification
Relentlessly Optimistic and Transparent
Customer first
Be Bold and Open
Why make SophonEX?
The time when the founding team came to know and started researching on bitcoin whitepaper can be dated back to the mid of 2017. At the end of that year, we initiated a quantitative fund, focusing on the bitcoin arbitrage across different exchanges worldwide. Our fund size (prop + LP invested) is about ~3000 BTC in maximum, and we traded across nearly 20 exchanges, including: BitFlyer, Coincheck, Quoinex(liquid), Zaif, Fisco, Binance, Bitfinex, GDAX(coinbase pro), Gate.io, Huobi.pro, OKEX, Poloniex, Kraken, Bithumb, Bitstamp, HitBTC. We wrote the arbitrage and quant trading system mainly in C++, and deployed it on multiple AWS ECs to colocate with these exchange servers. Our fund trading system is highly performant and reliable, making tens of thousands of orders per day. This high performance and reliability brings us to top5 in terms of 24-hr volume in the ranking. Despite of the success, it is also due to the 10-month trading experience, we came to realize the facts that all the de facto crypto exchanges share several similar flaws, which we concludes as below:
Clumsy and out-of-date backend architecture with poor engineering quality. E.g. most of the existing exchanges are written in old style PHP or J2EE or other stacks, which makes it hard to ensure high performance and reliability;
Digital Asset Security: hacking and security incidents happen every now and then;
APIs (restful and websocket) are badly designed and lagging. Based on our own experience, some of those APIs are being updated without prior announcements, which resulted in mal-functioning of our strategy occasionally;
Most importantly, the traditional trading commission is outrageously high. In traditional stock exchanges (e.g. Nasdaq, NYSE, etc), trading commission is ~0.02%, and the brokerage commission (e.g. Charles Schwab, Scottrade, Interactive Broker, etc) is charged at $0~6.95 flat fee Fees List. A younger stock brokerage, Robinhood launched in 2013, brands itself as commission free broker, which inspired us.
In light of this, we are dedicated to creating a brand-new crypto exchange with zero commission, high engineering quality and best security from the design. We’re still a centralized exchange with the cutting-edge and up-to-date engineering standards. Whereas the SophonEX team is conceiving a roadmap to gradually switch to a hybrid, and then fully decentralized exchange in the near future. SophonEX project was kicked off in June 2018, and aims to officially launch in March 2019. Prelaunch registration is available now: Priority access
SophonEX — a commission-free crypto to crypto exchange, for the decentralized community. SophonEX is a group of programming geeks, previously working for Facebook, Google, KCG, JP Morgan, etc. ‘Digital natives’ could be a pretty fit description for us. The majority of our founding team members are veterans of ACM-ICPC and TopCoder competitions, with great enthusiasm in coding, data structure, algorithm and mathematics When we first came across bitcoin’s technical paper, we were fascinated by its engineering beauty and philosophy depth. From there, we start to imagine a decentralized world where trust doesn’t comes with a charge, and trade doesn’t comes with a commission. After months of sophisticated design, it’s no longer a dream… It becomes real, in SophonEX. Get priority access Want more details about our team? → Team Profile
Mission
Make crypto trading frictionless and free. We believe that charging per-trade commission (no matter 0.1% or a staggering 3%) is evil in the decentralized world. Decentralized services need to be commission-free; and this spreading freedom is beneficial to the human society.
Our Values — How we do things around our offices?
Focus on impact and priority
Delay gratification
Relentlessly Optimistic and Transparent
Customer first
Be Bold and Open
Why make SophonEX?
The time when the founding team came to know and started researching on bitcoin whitepaper can be dated back to the mid of 2017. At the end of that year, we initiated a quantitative fund, focusing on the bitcoin arbitrage across different exchanges worldwide. Our fund size (prop + LP invested) is about ~3000 BTC in maximum, and we traded across nearly 20 exchanges, including: BitFlyer, Coincheck, Quoinex(liquid), Zaif, Fisco, Binance, Bitfinex, GDAX(coinbase pro), Gate.io, Huobi.pro, OKEX, Poloniex, Kraken, Bithumb, Bitstamp, HitBTC. We wrote the arbitrage and quant trading system mainly in C++, and deployed it on multiple AWS ECs to colocate with these exchange servers. Our fund trading system is highly performant and reliable, making tens of thousands of orders per day. This high performance and reliability brings us to top5 in terms of 24-hr volume in the ranking. Despite of the success, it is also due to the 10-month trading experience, we came to realize the facts that all the de facto crypto exchanges share several similar flaws, which we concludes as below:
Clumsy and out-of-date backend architecture with poor engineering quality. E.g. most of the existing exchanges are written in old style PHP or J2EE or other stacks, which makes it hard to ensure high performance and reliability;
Digital Asset Security: hacking and security incidents happen every now and then;
APIs (restful and websocket) are badly designed and lagging. Based on our own experience, some of those APIs are being updated without prior announcements, which resulted in mal-functioning of our strategy occasionally;
Most importantly, the traditional trading commission is outrageously high. In traditional stock exchanges (e.g. Nasdaq, NYSE, etc), trading commission is ~0.02%, and the brokerage commission (e.g. Charles Schwab, Scottrade, Interactive Broker, etc) is charged at $0~6.95 flat fee Fees List. A younger stock brokerage, Robinhood launched in 2013, brands itself as commission free broker, which inspired us.
In light of this, we are dedicated to creating a brand-new crypto exchange with zero commission, high engineering quality and best security from the design. We’re still a centralized exchange with the cutting-edge and up-to-date engineering standards. Whereas the SophonEX team is conceiving a roadmap to gradually switch to a hybrid, and then fully decentralized exchange in the near future. SophonEX project was kicked off in June 2018, and aims to officially launch in March 2019. Prelaunch registration is available now: Priority access
SophonEX — a commission-free crypto to crypto exchange, for the decentralized community. SophonEX is a group of programming geeks, previously working for Facebook, Google, KCG, JP Morgan, etc. ‘Digital natives’ could be a pretty fit description for us. The majority of our founding team members are veterans of ACM-ICPC and TopCoder competitions, with great enthusiasm in coding, data structure, algorithm and mathematics When we first came across bitcoin’s technical paper, we were fascinated by its engineering beauty and philosophy depth. From there, we start to imagine a decentralized world where trust doesn’t comes with a charge, and trade doesn’t comes with a commission. After months of sophisticated design, it’s no longer a dream… It becomes real, in SophonEX. Get priority access Want more details about our team? → Team Profile
Mission
Make crypto trading frictionless and free. We believe that charging per-trade commission (no matter 0.1% or a staggering 3%) is evil in the decentralized world. Decentralized services need to be commission-free; and this spreading freedom is beneficial to the human society.
Our Values — How we do things around our offices?
Focus on impact and priority
Delay gratification
Relentlessly Optimistic and Transparent
Customer first
Be Bold and Open
Why make SophonEX?
The time when the founding team came to know and started researching on bitcoin whitepaper can be dated back to the mid of 2017. At the end of that year, we initiated a quantitative fund, focusing on the bitcoin arbitrage across different exchanges worldwide. Our fund size (prop + LP invested) is about ~3000 BTC in maximum, and we traded across nearly 20 exchanges, including: BitFlyer, Coincheck, Quoinex(liquid), Zaif, Fisco, Binance, Bitfinex, GDAX(coinbase pro), Gate.io, Huobi.pro, OKEX, Poloniex, Kraken, Bithumb, Bitstamp, HitBTC. We wrote the arbitrage and quant trading system mainly in C++, and deployed it on multiple AWS ECs to colocate with these exchange servers. Our fund trading system is highly performant and reliable, making tens of thousands of orders per day. This high performance and reliability brings us to top5 in terms of 24-hr volume in the ranking. Despite of the success, it is also due to the 10-month trading experience, we came to realize the facts that all the de facto crypto exchanges share several similar flaws, which we concludes as below:
Clumsy and out-of-date backend architecture with poor engineering quality. E.g. most of the existing exchanges are written in old style PHP or J2EE or other stacks, which makes it hard to ensure high performance and reliability;
Digital Asset Security: hacking and security incidents happen every now and then;
APIs (restful and websocket) are badly designed and lagging. Based on our own experience, some of those APIs are being updated without prior announcements, which resulted in mal-functioning of our strategy occasionally;
Most importantly, the traditional trading commission is outrageously high. In traditional stock exchanges (e.g. Nasdaq, NYSE, etc), trading commission is ~0.02%, and the brokerage commission (e.g. Charles Schwab, Scottrade, Interactive Broker, etc) is charged at $0~6.95 flat fee Fees List. A younger stock brokerage, Robinhood launched in 2013, brands itself as commission free broker, which inspired us.
In light of this, we are dedicated to creating a brand-new crypto exchange with zero commission, high engineering quality and best security from the design. We’re still a centralized exchange with the cutting-edge and up-to-date engineering standards. Whereas the SophonEX team is conceiving a roadmap to gradually switch to a hybrid, and then fully decentralized exchange in the near future. SophonEX project was kicked off in June 2018, and aims to officially launch in March 2019. Prelaunch registration is available now: Priority access
SophonEX — a commission-free crypto to crypto exchange, for the decentralized community. SophonEX is a group of programming geeks, previously working for Facebook, Google, KCG, JP Morgan, etc. ‘Digital natives’ could be a pretty fit description for us. The majority of our founding team members are veterans of ACM-ICPC and TopCoder competitions, with great enthusiasm in coding, data structure, algorithm and mathematics When we first came across bitcoin’s technical paper, we were fascinated by its engineering beauty and philosophy depth. From there, we start to imagine a decentralized world where trust doesn’t comes with a charge, and trade doesn’t comes with a commission. After months of sophisticated design, it’s no longer a dream… It becomes real, in SophonEX. Get priority access Want more details about our team? → Team Profile
Mission
Make crypto trading frictionless and free. We believe that charging per-trade commission (no matter 0.1% or a staggering 3%) is evil in the decentralized world. Decentralized services need to be commission-free; and this spreading freedom is beneficial to the human society.
Our Values — How we do things around our offices?
Focus on impact and priority
Delay gratification
Relentlessly Optimistic and Transparent
Customer first
Be Bold and Open
Why make SophonEX?
The time when the founding team came to know and started researching on bitcoin whitepaper can be dated back to the mid of 2017. At the end of that year, we initiated a quantitative fund, focusing on the bitcoin arbitrage across different exchanges worldwide. Our fund size (prop + LP invested) is about ~3000 BTC in maximum, and we traded across nearly 20 exchanges, including: BitFlyer, Coincheck, Quoinex(liquid), Zaif, Fisco, Binance, Bitfinex, GDAX(coinbase pro), Gate.io, Huobi.pro, OKEX, Poloniex, Kraken, Bithumb, Bitstamp, HitBTC. We wrote the arbitrage and quant trading system mainly in C++, and deployed it on multiple AWS ECs to colocate with these exchange servers. Our fund trading system is highly performant and reliable, making tens of thousands of orders per day. This high performance and reliability brings us to top5 in terms of 24-hr volume in the ranking. Despite of the success, it is also due to the 10-month trading experience, we came to realize the facts that all the de facto crypto exchanges share several similar flaws, which we concludes as below:
Clumsy and out-of-date backend architecture with poor engineering quality. E.g. most of the existing exchanges are written in old style PHP or J2EE or other stacks, which makes it hard to ensure high performance and reliability;
Digital Asset Security: hacking and security incidents happen every now and then;
APIs (restful and websocket) are badly designed and lagging. Based on our own experience, some of those APIs are being updated without prior announcements, which resulted in mal-functioning of our strategy occasionally;
Most importantly, the traditional trading commission is outrageously high. In traditional stock exchanges (e.g. Nasdaq, NYSE, etc), trading commission is ~0.02%, and the brokerage commission (e.g. Charles Schwab, Scottrade, Interactive Broker, etc) is charged at $0~6.95 flat fee Fees List. A younger stock brokerage, Robinhood launched in 2013, brands itself as commission free broker, which inspired us.
In light of this, we are dedicated to creating a brand-new crypto exchange with zero commission, high engineering quality and best security from the design. We’re still a centralized exchange with the cutting-edge and up-to-date engineering standards. Whereas the SophonEX team is conceiving a roadmap to gradually switch to a hybrid, and then fully decentralized exchange in the near future. SophonEX project was kicked off in June 2018, and aims to officially launch in March 2019. Prelaunch registration is available now: Priority access
SophonEX — a commission-free crypto to crypto exchange, for the decentralized community. SophonEX is a group of programming geeks, previously working for Facebook, Google, KCG, JP Morgan, etc. ‘Digital natives’ could be a pretty fit description for us. The majority of our founding team members are veterans of ACM-ICPC and TopCoder competitions, with great enthusiasm in coding, data structure, algorithm and mathematics When we first came across bitcoin’s technical paper, we were fascinated by its engineering beauty and philosophy depth. From there, we start to imagine a decentralized world where trust doesn’t comes with a charge, and trade doesn’t comes with a commission. After months of sophisticated design, it’s no longer a dream… It becomes real, in SophonEX. Get priority access Want more details about our team? → Team Profile
Mission
Make crypto trading frictionless and free. We believe that charging per-trade commission (no matter 0.1% or a staggering 3%) is evil in the decentralized world. Decentralized services need to be commission-free; and this spreading freedom is beneficial to the human society.
Our Values — How we do things around our offices?
Focus on impact and priority
Delay gratification
Relentlessly Optimistic and Transparent
Customer first
Be Bold and Open
Why make SophonEX?
The time when the founding team came to know and started researching on bitcoin whitepaper can be dated back to the mid of 2017. At the end of that year, we initiated a quantitative fund, focusing on the bitcoin arbitrage across different exchanges worldwide. Our fund size (prop + LP invested) is about ~3000 BTC in maximum, and we traded across nearly 20 exchanges, including: BitFlyer, Coincheck, Quoinex(liquid), Zaif, Fisco, Binance, Bitfinex, GDAX(coinbase pro), Gate.io, Huobi.pro, OKEX, Poloniex, Kraken, Bithumb, Bitstamp, HitBTC. We wrote the arbitrage and quant trading system mainly in C++, and deployed it on multiple AWS ECs to colocate with these exchange servers. Our fund trading system is highly performant and reliable, making tens of thousands of orders per day. This high performance and reliability brings us to top5 in terms of 24-hr volume in the ranking. Despite of the success, it is also due to the 10-month trading experience, we came to realize the facts that all the de facto crypto exchanges share several similar flaws, which we concludes as below:
Clumsy and out-of-date backend architecture with poor engineering quality. E.g. most of the existing exchanges are written in old style PHP or J2EE or other stacks, which makes it hard to ensure high performance and reliability;
Digital Asset Security: hacking and security incidents happen every now and then;
APIs (restful and websocket) are badly designed and lagging. Based on our own experience, some of those APIs are being updated without prior announcements, which resulted in mal-functioning of our strategy occasionally;
Most importantly, the traditional trading commission is outrageously high. In traditional stock exchanges (e.g. Nasdaq, NYSE, etc), trading commission is ~0.02%, and the brokerage commission (e.g. Charles Schwab, Scottrade, Interactive Broker, etc) is charged at $0~6.95 flat fee Fees List. A younger stock brokerage, Robinhood launched in 2013, brands itself as commission free broker, which inspired us.
In light of this, we are dedicated to creating a brand-new crypto exchange with zero commission, high engineering quality and best security from the design. We’re still a centralized exchange with the cutting-edge and up-to-date engineering standards. Whereas the SophonEX team is conceiving a roadmap to gradually switch to a hybrid, and then fully decentralized exchange in the near future. SophonEX project was kicked off in June 2018, and aims to officially launch in March 2019. Prelaunch registration is available now: Priority access
SophonEX — a commission-free crypto to crypto exchange, for the decentralized community. SophonEX is a group of programming geeks, previously working for Facebook, Google, KCG, JP Morgan, etc. ‘Digital natives’ could be a pretty fit description for us. The majority of our founding team members are veterans of ACM-ICPC and TopCoder competitions, with great enthusiasm in coding, data structure, algorithm and mathematics When we first came across bitcoin’s technical paper, we were fascinated by its engineering beauty and philosophy depth. From there, we start to imagine a decentralized world where trust doesn’t comes with a charge, and trade doesn’t comes with a commission. After months of sophisticated design, it’s no longer a dream… It becomes real, in SophonEX. Get priority access Want more details about our team? → Team Profile
Mission
Make crypto trading frictionless and free. We believe that charging per-trade commission (no matter 0.1% or a staggering 3%) is evil in the decentralized world. Decentralized services need to be commission-free; and this spreading freedom is beneficial to the human society.
Our Values — How we do things around our offices?
Focus on impact and priority
Delay gratification
Relentlessly Optimistic and Transparent
Customer first
Be Bold and Open
Why make SophonEX?
The time when the founding team came to know and started researching on bitcoin whitepaper can be dated back to the mid of 2017. At the end of that year, we initiated a quantitative fund, focusing on the bitcoin arbitrage across different exchanges worldwide. Our fund size (prop + LP invested) is about ~3000 BTC in maximum, and we traded across nearly 20 exchanges, including: BitFlyer, Coincheck, Quoinex(liquid), Zaif, Fisco, Binance, Bitfinex, GDAX(coinbase pro), Gate.io, Huobi.pro, OKEX, Poloniex, Kraken, Bithumb, Bitstamp, HitBTC. We wrote the arbitrage and quant trading system mainly in C++, and deployed it on multiple AWS ECs to colocate with these exchange servers. Our fund trading system is highly performant and reliable, making tens of thousands of orders per day. This high performance and reliability brings us to top5 in terms of 24-hr volume in the ranking. Despite of the success, it is also due to the 10-month trading experience, we came to realize the facts that all the de facto crypto exchanges share several similar flaws, which we concludes as below:
Clumsy and out-of-date backend architecture with poor engineering quality. E.g. most of the existing exchanges are written in old style PHP or J2EE or other stacks, which makes it hard to ensure high performance and reliability;
Digital Asset Security: hacking and security incidents happen every now and then;
APIs (restful and websocket) are badly designed and lagging. Based on our own experience, some of those APIs are being updated without prior announcements, which resulted in mal-functioning of our strategy occasionally;
Most importantly, the traditional trading commission is outrageously high. In traditional stock exchanges (e.g. Nasdaq, NYSE, etc), trading commission is ~0.02%, and the brokerage commission (e.g. Charles Schwab, Scottrade, Interactive Broker, etc) is charged at $0~6.95 flat fee Fees List. A younger stock brokerage, Robinhood launched in 2013, brands itself as commission free broker, which inspired us.
In light of this, we are dedicated to creating a brand-new crypto exchange with zero commission, high engineering quality and best security from the design. We’re still a centralized exchange with the cutting-edge and up-to-date engineering standards. Whereas the SophonEX team is conceiving a roadmap to gradually switch to a hybrid, and then fully decentralized exchange in the near future. SophonEX project was kicked off in June 2018, and aims to officially launch in March 2019. Prelaunch registration is available now: Priority access
SophonEX — a commission-free crypto to crypto exchange, for the decentralized community. SophonEX is a group of programming geeks, previously working for Facebook, Google, KCG, JP Morgan, etc. ‘Digital natives’ could be a pretty fit description for us. The majority of our founding team members are veterans of ACM-ICPC and TopCoder competitions, with great enthusiasm in coding, data structure, algorithm and mathematics When we first came across bitcoin’s technical paper, we were fascinated by its engineering beauty and philosophy depth. From there, we start to imagine a decentralized world where trust doesn’t comes with a charge, and trade doesn’t comes with a commission. After months of sophisticated design, it’s no longer a dream… It becomes real, in SophonEX. Get priority access Want more details about our team? → Team Profile
Mission
Make crypto trading frictionless and free. We believe that charging per-trade commission (no matter 0.1% or a staggering 3%) is evil in the decentralized world. Decentralized services need to be commission-free; and this spreading freedom is beneficial to the human society.
Our Values — How we do things around our offices?
Focus on impact and priority
Delay gratification
Relentlessly Optimistic and Transparent
Customer first
Be Bold and Open
Why make SophonEX?
The time when the founding team came to know and started researching on bitcoin whitepaper can be dated back to the mid of 2017. At the end of that year, we initiated a quantitative fund, focusing on the bitcoin arbitrage across different exchanges worldwide. Our fund size (prop + LP invested) is about ~3000 BTC in maximum, and we traded across nearly 20 exchanges, including: BitFlyer, Coincheck, Quoinex(liquid), Zaif, Fisco, Binance, Bitfinex, GDAX(coinbase pro), Gate.io, Huobi.pro, OKEX, Poloniex, Kraken, Bithumb, Bitstamp, HitBTC. We wrote the arbitrage and quant trading system mainly in C++, and deployed it on multiple AWS ECs to colocate with these exchange servers. Our fund trading system is highly performant and reliable, making tens of thousands of orders per day. This high performance and reliability brings us to top5 in terms of 24-hr volume in the ranking. Despite of the success, it is also due to the 10-month trading experience, we came to realize the facts that all the de facto crypto exchanges share several similar flaws, which we concludes as below:
Clumsy and out-of-date backend architecture with poor engineering quality. E.g. most of the existing exchanges are written in old style PHP or J2EE or other stacks, which makes it hard to ensure high performance and reliability;
Digital Asset Security: hacking and security incidents happen every now and then;
APIs (restful and websocket) are badly designed and lagging. Based on our own experience, some of those APIs are being updated without prior announcements, which resulted in mal-functioning of our strategy occasionally;
Most importantly, the traditional trading commission is outrageously high. In traditional stock exchanges (e.g. Nasdaq, NYSE, etc), trading commission is ~0.02%, and the brokerage commission (e.g. Charles Schwab, Scottrade, Interactive Broker, etc) is charged at $0~6.95 flat fee Fees List. A younger stock brokerage, Robinhood launched in 2013, brands itself as commission free broker, which inspired us.
In light of this, we are dedicated to creating a brand-new crypto exchange with zero commission, high engineering quality and best security from the design. We’re still a centralized exchange with the cutting-edge and up-to-date engineering standards. Whereas the SophonEX team is conceiving a roadmap to gradually switch to a hybrid, and then fully decentralized exchange in the near future. SophonEX project was kicked off in June 2018, and aims to officially launch in March 2019. Prelaunch registration is available now: Priority access
SophonEX — a commission-free crypto to crypto exchange, for the decentralized community. SophonEX is a group of programming geeks, previously working for Facebook, Google, KCG, JP Morgan, etc. ‘Digital natives’ could be a pretty fit description for us. The majority of our founding team members are veterans of ACM-ICPC and TopCoder competitions, with great enthusiasm in coding, data structure, algorithm and mathematics When we first came across bitcoin’s technical paper, we were fascinated by its engineering beauty and philosophy depth. From there, we start to imagine a decentralized world where trust doesn’t comes with a charge, and trade doesn’t comes with a commission. After months of sophisticated design, it’s no longer a dream… It becomes real, in SophonEX. Get priority access Want more details about our team? → Team Profile
Mission
Make crypto trading frictionless and free. We believe that charging per-trade commission (no matter 0.1% or a staggering 3%) is evil in the decentralized world. Decentralized services need to be commission-free; and this spreading freedom is beneficial to the human society.
Our Values — How we do things around our offices?
Focus on impact and priority
Delay gratification
Relentlessly Optimistic and Transparent
Customer first
Be Bold and Open
Why make SophonEX?
The time when the founding team came to know and started researching on bitcoin whitepaper can be dated back to the mid of 2017. At the end of that year, we initiated a quantitative fund, focusing on the bitcoin arbitrage across different exchanges worldwide. Our fund size (prop + LP invested) is about ~3000 BTC in maximum, and we traded across nearly 20 exchanges, including: BitFlyer, Coincheck, Quoinex(liquid), Zaif, Fisco, Binance, Bitfinex, GDAX(coinbase pro), Gate.io, Huobi.pro, OKEX, Poloniex, Kraken, Bithumb, Bitstamp, HitBTC. We wrote the arbitrage and quant trading system mainly in C++, and deployed it on multiple AWS ECs to colocate with these exchange servers. Our fund trading system is highly performant and reliable, making tens of thousands of orders per day. This high performance and reliability brings us to top5 in terms of 24-hr volume in the ranking. Despite of the success, it is also due to the 10-month trading experience, we came to realize the facts that all the de facto crypto exchanges share several similar flaws, which we concludes as below:
Clumsy and out-of-date backend architecture with poor engineering quality. E.g. most of the existing exchanges are written in old style PHP or J2EE or other stacks, which makes it hard to ensure high performance and reliability;
Digital Asset Security: hacking and security incidents happen every now and then;
APIs (restful and websocket) are badly designed and lagging. Based on our own experience, some of those APIs are being updated without prior announcements, which resulted in mal-functioning of our strategy occasionally;
Most importantly, the traditional trading commission is outrageously high. In traditional stock exchanges (e.g. Nasdaq, NYSE, etc), trading commission is ~0.02%, and the brokerage commission (e.g. Charles Schwab, Scottrade, Interactive Broker, etc) is charged at $0~6.95 flat fee Fees List. A younger stock brokerage, Robinhood launched in 2013, brands itself as commission free broker, which inspired us.
In light of this, we are dedicated to creating a brand-new crypto exchange with zero commission, high engineering quality and best security from the design. We’re still a centralized exchange with the cutting-edge and up-to-date engineering standards. Whereas the SophonEX team is conceiving a roadmap to gradually switch to a hybrid, and then fully decentralized exchange in the near future. SophonEX project was kicked off in June 2018, and aims to officially launch in March 2019. Prelaunch registration is available now: Priority access
[hiring] Make crypto trading frictionless and free.
SophonEX — a commission-free crypto to crypto exchange, for the decentralized community. SophonEX is a group of programming geeks, previously working for Facebook, Google, KCG, JP Morgan, etc. ‘Digital natives’ could be a pretty fit description for us. The majority of our founding team members are veterans of ACM-ICPC and TopCoder competitions, with great enthusiasm in coding, data structure, algorithm and mathematics When we first came across bitcoin’s technical paper, we were fascinated by its engineering beauty and philosophy depth. From there, we start to imagine a decentralized world where trust doesn’t comes with a charge, and trade doesn’t comes with a commission. After months of sophisticated design, it’s no longer a dream… It becomes real, in SophonEX. Get priority access Sophonex team is also hiring backend developer. Please email to [[email protected]]([email protected]), if you're interested to learn more about the role. Want more details about our team? → Team Profile
Mission
Make crypto trading frictionless and free. We believe that charging per-trade commission (no matter 0.1% or a staggering 3%) is evil in the decentralized world. Decentralized services need to be commission-free; and this spreading freedom is beneficial to the human society.
Our Values — How we do things around our offices?
Focus on impact and priority
Delay gratification
Relentlessly Optimistic and Transparent
Customer first
Be Bold and Open
Why make SophonEX?
The time when the founding team came to know and started researching on bitcoin whitepaper can be dated back to the mid of 2017. At the end of that year, we initiated a quantitative fund, focusing on the bitcoin arbitrage across different exchanges worldwide. Our fund size (prop + LP invested) is about ~3000 BTC in maximum, and we traded across nearly 20 exchanges, including: BitFlyer, Coincheck, Quoinex(liquid), Zaif, Fisco, Binance, Bitfinex, GDAX(coinbase pro), Gate.io, Huobi.pro, OKEX, Poloniex, Kraken, Bithumb, Bitstamp, HitBTC. We wrote the arbitrage and quant trading system mainly in C++, and deployed it on multiple AWS ECs to colocate with these exchange servers. Our fund trading system is highly performant and reliable, making tens of thousands of orders per day. This high performance and reliability brings us to top5 in terms of 24-hr volume in the ranking. Despite of the success, it is also due to the 10-month trading experience, we came to realize the facts that all the de facto crypto exchanges share several similar flaws, which we concludes as below:
Clumsy and out-of-date backend architecture with poor engineering quality. E.g. most of the existing exchanges are written in old style PHP or J2EE or other stacks, which makes it hard to ensure high performance and reliability;
Digital Asset Security: hacking and security incidents happen every now and then;
APIs (restful and websocket) are badly designed and lagging. Based on our own experience, some of those APIs are being updated without prior announcements, which resulted in mal-functioning of our strategy occasionally;
Most importantly, the traditional trading commission is outrageously high. In traditional stock exchanges (e.g. Nasdaq, NYSE, etc), trading commission is ~0.02%, and the brokerage commission (e.g. Charles Schwab, Scottrade, Interactive Broker, etc) is charged at $0~6.95 flat fee Fees List. A younger stock brokerage, Robinhood launched in 2013, brands itself as commission free broker, which inspired us.
In light of this, we are dedicated to creating a brand-new crypto exchange with zero commission, high engineering quality and best security from the design. We’re still a centralized exchange with the cutting-edge and up-to-date engineering standards. Whereas the SophonEX team is conceiving a roadmap to gradually switch to a hybrid, and then fully decentralized exchange in the near future. SophonEX project was kicked off in June 2018, and aims to officially launch in March 2019. Prelaunch registration is available now: Priority access
Cryptocurrencies on pace to close volatile trading week positive following Ethereum Classic addition to Coinbase Index Fund and the launch of the BOLT privacy overlay for Zcash on the lightning network
Developments in Financial Services
Binance is launching a JV with Liechtenstein Cryptoassets Exchange (LCX) to launch a fiat to cryptocurrency exchange, Binnace LCX. The exchange/platforming will be based in Liechtenstein and offer trading between Swiss Francs (CHF) and euros (EUR) against major digital currencies pairs with the potential for new trading pairs in the future.
bloXroute Labs, along with a partnership with a team of student at Northwestern University, are experimenting with a trustless scheme to address the scalability limitations of Bitcoin’s P2P platform. At the moment, with the Lightning Network, Bitcoin transactions capacity is capped at 82 BTC. According to Sarit Markovich, professor of strategy at Kellogg School of Management at Northwestern University, the bloXroute solution is scaling at 100x better and are targeting 1,000x.
BOLT, a privacy overlay for the lighting network that will be applied to zcash, was formally launched on Github today. BOLT will obscure transaction, balances and sendereceiver identities. The BOLT upgrade to the zcash protocol is considered a soft fork.
Coinbase, according to CEO and co-Founder Brian Armstrong in an interview with Bloomberg, is adding 50k new users a day. Assuming this run-rate, it implies Coinbase will add 350k new users a year.
DGE, a South Korean blockchain developer, who launched its native cryptocurrency TMTG a few weeks ago that is linked to value of gold is attempting to partner with global gold exchanges (after agreements with the Korea Gold Exchange and Vau Diamond Exchange) to create a stable ecosystem for TMTG. In the opinion of DGE, many cryptocurrency developers do not consider the stability of their coins and its impact to the ecosystem these cryptocurrencies support.
Ethereum Classic is +18% this morning after crypto’s inclusion into the Coinbase index fund after being added to the Coinbase Pro trading platform. At the moment, Ethereum Classic has a 0.91% allocation in the fund.
Huobi, the Singapore-based cryptocurrency exchange (and third largest cryptocurrency exchange in the world), has announced partnerships with Yatai International Holding Group, Vnesheconombank, Chi Fu Group, Asia International Finance Holdings, and Dbank Group to create cryptocurrency trading exchanges/platforms in the Philippines, Taiwan, Indonesia, and Canada. The five companies will use Huobi’s Cloud service which will provide the different platforms with the tools they need to open their exchanges on a proven framework.
LINE, a Japanese social messaging app, announced that is forming a USD$10mm blockchain venture capital fund. The company believes the decision to create a blockchain venture fund will make LINE one of the first publicly traded companies to formalize token investments through a corporate fund structure.
Pantera Capital announces it has raised USD$71mm for a third cryptocurrency fund. Calling it Venture Fund III, Pantera has already begun to make investments following an allocation to cryptocurrency trading platform Bakkt (that has a JV with ICE).
Ripple Labs continues to focus on expansion plans, even in the face of recent lawsuits from the District Court of California. The lawsuits content that Ripple’s native cryptocurrency, XRP, should be considered a security which the company flatly rejects. In spite of these issues, Ripple Labs remains focused on its overseas expansions plans in Asia and the Middle East.
Ripple Labs has endorsed three cryptocurrency exchanges, Bittrex, Bitso, and Coins.ph as its preferred partners for transactions with Ripple’s xRapid payments system. Management at Ripple Labs is encouraging users in the US, Mexico and the Philippines to use these exchanges while transacting with xRapid. XRapid is a solution for Ripple’s blockchain-based real-time gross settlement system and is meant to facilitate international fiat transfers between financial institutions.
Square announces that customers will be able to buy/sell Bitcoin via its Cash App across all 50 states in the United States.
The Tokyo Stock Exchange (TSE) is publicly expressing concerns about the acquisition of Beat Holdings, listed on the TSE, by Noah Ark Technologies, a Hong Kong-based cryptocurrency frim. The TSE concerns are related to management’s bias to stay away from the cryptocurrency sector.
Regulatory
The Australian Securities Exchange (ASX) is exploring using a distributed ledger technology (DLT) in place of its current clearing house electronic sub-register system. According to Dominic Steves, Managing Director and CEO of the ASX, shifting to a DLT system would save the exchange as much as USD$23bn. A DLT would permit customers to use nodes instead of sending messages and connect to the whole database instead of having to communicate with several different databases and should help eliminate errors.
Bitmain’s upcoming IPO is coming under scrutiny as investors continue to worry about its long-term viability. Specifically, there seem to be concerns about Bitmain’s reserve of Bitcoin Cash which is considered an illiquid position given the daily turnover in current Bitcoin Cash markets. Bitmain’s IPO is currently being valued at USD$18bn.
Bloomberg is reporting that a Bitcoin-based ETN that is listed on Nasdaq Stockholm will begin targeting US investors. The ETN, Bitcoin Tracker One, is listed and traded in Sweden but is now being quoted in USD$. Traders will buy the ETN in a similar way that they buy ADRs where transactions are in USD$ but settlement, clearing and custody will be done in SEK.
General News
Alexander Petersons, product director of cloud mining service Hashtoro.com and self-proclaimed crypto-enthusiast, believes the cryptocoin industry will begin shifting to cleaner and smart mining by taking advantage of local climates to help reduce electricity consumption. While cryptocurrency critics cite costs of crypto mining as an impediment that will limit widescale adoption of digital currencies, Petersons and the team at Hashtoro.com believe the use of clean energy will help address the challenges of scalability.
Bitcoin.com CEO Roger Ver has hinted the online cryptocurrency news publisher may consider an ICO in the future. The topic was brought up during a conversation with one of Bitcoin.com’s lead developers about developing tokens on the Bitcoin Cash blockchain - - Bitcoin.com published a new tool helping aspiring developers to build tokens on the Bitcoin Cash protocol.
A group of researchers/hackers have claimed to have hacked John Mcafee-backed hardware wallet Bitfi. According to its advertising, Bitfi claims to be unhackable. The researchers/hackers claim to have had complete access to a Bitfi wallet for the past two weeks, tracking data being sent out of the wallet while still being connected to the Bitfi servers.
According to a research report by Citrix, 59% of UK companies have been affected by cryptojacking malware. Cryptojacking malware employs its victim’s computational resources without their permission in order to mine cryptocurrencies for the attacker and leads to a wasteful increase in electric power consumption and the slowing down of affected devices. According to Citrix’s research, 80% of the cryptojacking cases took place in the last six months.
Deviant coin releases its whitepaper ahead of the launch of its hybrid decentralized exchange and its open-source hardware wallet. The novelty of Deviant is that it proposed to create rewards within its ecosystems without the typical centralized control of node operators. The Deviant network offers improved speed with stealth addresses for complete anonymity, encrypted messaging for secure communication, low transaction fees, lower confirmation time, and a limited total supply.
The Ethereum community continues to struggle with DApps topping the number of downloads on the blockchain network that are promising investments with high returns that turn out to be fraudulent. As an example, Team JUST, the anonymous development team behind the gambling DApp FOMO 3D is warning that an indentical version of its game is eating up 1/3 of the Ethereum network’s total computational power and raising USD$7mm over the past week.
Genesis Mining, an Iceland-basd hashpower hosting service, is forcing customers to upgrade their Bitcoin mining contracts following this year’s drop in cryptocurrency valuations. The company is discounting the upgrade price of its Radiant service per 1 TH/s to USD$180 from USD$285. In 60 days, Genesis announced it will terminate open-ended contracts that mine less than the daily maintenance fee.
Hash House, a crypto-themed café and workshare space in the city of Xi’an, the capital of Shaanxi Province in China, has recently launched. Among its many features, Hash House will provide visitors with learnings materials on cryptocurrencies and will hose seminars and meetups on different crypto topics.
China News reports that the Hong Kong University of Science and Technology (HKUST) Business School has received a USD$20mm research grant to investigate the security capabilities of electronic payment systems. Partnering with University of Hong Kong (HKU), the Chinese University of Hong Kong (CUHK), and the City University of Hong Kong (CityU), the HKUST-led research initiative will focus on artificial intelligence, network security and blockchain technologies.
During an unofficial discussion with Quartz India, unnamed state official in the Indian government, which is examining the impact of the virtual currency ecosystem.
IBM files updates to a pending patent for managing a databases management system (DBMS) using a blockchain database. The patent was initially filed in December 2017 and covers the idea of connecting a blockchain databases with a traditional central database.
Joe Lubin, the co-founder of Ethereum and ConsenSys, does not see the recent sell-off in cryptocurrencies constraining growth of the crypto ecosystem. In an interview with Bloomberg, Lubin suggested the recent run-up in cryptocurrency valuations is similar the previous six bubbles with each bubble more pronounced than the previous.
Joe Lubin, the co-founder of the Ethereum Foundation, during an interview with Bloomberg, claims Ripple is not a blockchain technology and is not a competitor for Ethereum. In Lubin’s mind, Ripple is a payment system, not a blockchain technology. In the case of EOS, Lubin cautions against its decision-making framework and doesn’t believe it is should be treated as layer-one technology yet.
Users can now be paid to participate on the lightning network nodes. The average fee on the lightning network currently is about 1 satoshi. In comparison, the montly income of using the lightning network has been estimated to be closer to USD$2 for a prominent application developer.
Microsoft recent patent applications suggests the company is looking to use trusted execution environments (TEEs) within its blockchain technology. TEEs are pre-determined types of blockchain or other security protocols in validation nodes. TEEs will help assist in the implementation of consortium blockchain networks and will also assist in verifying blockchain transactions on networks where multiple pre-authorized entities must interact.
Saudi Arabia officials warn citizens in a formal joint statement from the Ministry of Trade & Investment, Ministry of Information and Saudi Arabian Monetary Agency that trading Bitcoin and other cryptocurrencies are illegal in The Kingdom. This press release is in contrast to The Kingdom’s positive disposition to blockchain technology.
Taproot, a protocol overlay for Bitcoin pushed by one of Bitcoin’s most well-known developers Greg Maxwell, will offer a privacy layer which will address Bitcoin critics who believe the benchmark cryptocurrency’s privacy is awful. Taproot, supported by other popular Bitcoin developers, will require the Schnorr upgrade which is still not ready to be implemented. The power of Taproot will be the ability to make smart contract transactions look like any regular Bitcoin transaction, offering anonymity for senders and receivers.
The national government of Vietnam has decided to ban imports of cryptocurrency mining equipment. According to the Ho Chi Minh City Customs Department, 3,664 ASIC devices were imported into the city in C1H2018. The ban of cryptocurrency mining equipment is related to a government investigation into a ICO-fraud that scammed USD$660mm from 32,000 domestic investors. At the moment, cryptocurrencies are outlawed as payments in Vietnam after the Vietnamese Central Bank refused to accept cryptocurrencies as a recognizable form of non-cash payments.
During an interview with Crypto Congressman Jason Hsu, Vitalik Buterin, the co-Founder of the Ethereum Foundation, highlighted his worries about the lack of sustainable applications on the Ethereum blockchain. Buterin is working on a proof-of-stake and charting protocols to help address the current bottlenecks that are preventing widescale adoption of Ethereum. In his opion, privacy concerns remain the biggest hurdle for widespread adoption of Ethereum in the financial sector.
Bitcoin has worked non stop for 9 years. Without any days off, scheduled maintenance or severe issues. Let that sink in for a minute. (599 points, 226 comments)
PSA: Stop spelling the Bitcoin fraudulent site correctly - It only helps them as search engines pick it up. Use: bitcoin,com | bitcoin .com | bitcoin (.) com | bitcoindotcom | ... (153 points, 52 comments)
Starting tomorrow Monday April 23, 2018 I will ask everywhere I spend my fiat, if they take Bitcoin even if I know they don’t. (609 points, 234 comments)
Sad day today will be the last day we’ll see bitcoin below 9k.🙃 (275 points, 170 comments)
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