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Stocks are set to end the week on a high note after four of the biggest tech stocks - Apple (NASDAQ:AAPL), Amazon (NASDAQ:AMZN), Facebook (NASDAQ:FB) and Alphabet (GOOG, GOOGL) - reported quarterly results that beat high expectations. Apple easily exceeded estimates on the top and bottom lines, and announced a four-for-one stock split, sending shares past the $400 threshold in after-hours trading. Amazon's sales soared, and operating income nearly doubled compared with the big drop analysts had expected. Facebook posted 11% revenue growth and issued stronger-than-expected sales guidance for the current quarter. Results from Google's parent were a bit murkier, showing the company's first-ever year-over-year decline in advertising revenue, but sales from its cloud-computing segment came in well above expectations. Big Tech has been Wall Street's mainstay this year, and the latest quarterly results look to accelerate that trend. Amazon and Apple are up 65% and 31%, respectively, in 2020, while Facebook and Alphabet each have gained more than 14% over the period. With all four stocks moving higher in after-hours trading, the tech titans likely will add more than $200 billion to their combined market value. U.S. economy shrank by a third in Q2 The Commerce Department said U.S. gross domestic product collapsed at a 32.9% annualized rate in the second quarter, the steepest decline since the government started keeping records in 1947, as COVID-19 crushed consumer and business spending. Meanwhile, in a sign of a faltering jobs market, the number of workers applying for initial unemployment benefits rose for the second straight week, to 1.43 million, after nearly four months of decreases following a late-March peak. The Q2 economic contraction came as states imposed lockdowns in March and April to contain the coronavirus and then lifted restrictions in May and June, allowing growth to resume. Economists expect the third quarter to show growth, but the summer rise in infections likely will temper gains. Senate fails to advance jobless benefits extension Meanwhile, no signs of progress are evident in talks between Republicans and Democrats over a new coronavirus relief bill. The U.S. Senate failed yesterday to advance an effort to extend a $200 per week supplement to unemployment insurance benefits. Senate Republicans and the White House had sought to cut the supplement from $600 through September, after which those collecting unemployment benefits would get 70% of their previous wages when combined with state benefits. While much of the focus has been on the expiration of the additional $600-per-week of unemployment benefits, an eviction moratorium is receiving increasing attention as well. China factory activity expands for fifth straight month China’s official manufacturing purchasing managers' index came in better than expected, rising to 51.1 in July from 50.9 in June for its highest reading since March. July marked the fifth consecutive month that the closely watched measure of China's factory activity topped the 50 mark that separates expansion from contraction. Combined with China's official non-manufacturing purchasing managers' index, which indicated a slight deceleration in the service sector, the data suggests China's factories have returned to pre-coronavirus levels but consumer demand remains much weaker, which means inventory is piling up. Chinese-backed hackers reportedly targeted Moderna for vaccine data China rejects charges that hackers linked to its government targeted Moderna (NASDAQ:MRNA) to steal data related to research on a coronavirus vaccine. Citing an unnamed U.S. security official, Reuters reported yesterday that Chinese hackers targeted the U.S. biotech firm earlier this year. Moderna said it had been in contact with the FBI and was made aware of the suspected "information reconnaissance activities" by a hacking group mentioned in last week's Justice Department indictment, where two Chinese nationals were accused of spying on the U.S., including three unnamed U.S.-based targets involved in medical research to fight COVID-19. The two other unnamed medical research companies mentioned in the Justice Department indictment are described as biotech companies based in California and Maryland - descriptions that could fit Gilead Sciences (NASDAQ:GILD) and Novavax (NASDAQ:NVAX). Go deeper: J&J (NYSE:JNJ) COVID-19 vaccine candidate shows positive effect in primate study. Amazon's $10 billion Internet satellite plan wins FCC approval While overshadowed by the company's earnings, Amazon.com's (AMZN) tech ambitions got a boost as the FCC approved its $10B plan to put thousands of satellites in the sky to provide high-speed Internet to unserved and underserved areas. The company's Project Kuiper - using 3,200 low Earth orbit satellites - would compete in that area with the Starlink project at SpaceX (SPACE). Australia to force Google, Facebook to pay for news Australia will become the first country in the world to force Facebook (FB) and Google (GOOG, GOOGL) to pay publishers for the news content featured on its sites. It will give the companies three months to negotiate fair pay with media businesses there, a move to ensure competition and consumer protection as well as a sustainable media landscape. Other companies are likely to be targeted for similar moves by Australia's government later. U.K. fraud office charges Airbus subsidiary over Saudi deal The U.K.'s major economic crimes investigator has charged Airbus' (OTCPK:EADSY) subsidiary GPT Special Project Management and three individuals in connection with a defense contract the country arranged with Saudi Arabia. Airbus says the Serious Fraud Office's investigation related to contractual arrangements that predated its acquisition of the subsidiary. The charges represent a step forward in one of the SFO's most politically sensitive probes, which has been viewed as a potential threat to the U.K.'s relationship with the Saudis. Go deeper: Airbus works to slow cash burn, puts brakes on production. What else is happening... Walmart (NYSE:WMT) memo points to cutting jobs in 'streamlining.' Facebook (FB) finally securing rights to show music videos. Twitter (NYSE:TWTR) account breach involved phone-based phishing attacks on employees. Thursday's Key Earnings Apple (AAPL) +6.3% PM on strong earnings, stock split. Amazon (AMZN) +5.5% PM on strong Q2 earnings, Q3 guidance. Alphabet (NASDAQ:GOOG) flat PM after soft ad revenue. Facebook (FB) +5.9 PM on strong earnings, user growth. Ford Motor (NYSE:F) +2.5% PM despite seeing weak FY demand. Gilead Sciences (GILD) -3.6% PM as pandemic disrupts earnings. US Steel (NYSE:X) flat PM after Q2 loss, upbeat Q3 guidance. Electronic Arts (NASDAQ:EA) flat PM after Q2 beat, better-than-expected FY guidance. LTC Properties (NYSE:LTC) -3.2% AH as Q2 rental revenue takes a hit. Xilinx (NASDAQ:XLNX) -2.7% PM on in-line Q2, outlook. Stryker (NYSE:SYK) -2.8% AH despite Q2 beat. Vertex Pharmaceuticals (NASDAQ:VRTX) +1% AH on robust Q2 Trikafta sales. OPKO Health (NASDAQ:OPK) -6% PM after healthy Q2 earnings. Atlassian (NASDAQ:TEAM) -7% PM on FQ4 customer weakness, downside EPS forecast. Exact Sciences (NASDAQ:EXAS) -3% AH on pandemic disrupting Q2 revenue. Expedia (NASDAQ:EXPE) -6% PM after massive Q2 bookings dip. Seattle Genetics (NASDAQ:SGEN) -2% AH despite Q2 beat. Cabot Oil & Gas (NYSE:COG) flat PM after Q2 beat, unchanged guidance. XPO Logistics (NYSE:XPO) -4% AH on weak Q2 shipping metrics. Shake Shack (NYSE:SHAK) -4.8% AH on Q2 miss, pulled Q3 guidance. Today's Markets In Asia, Japan -2.82%. Hong Kong -0.47%. China +0.71%. India -0.26%. In Europe, at midday, London -0.17%. Paris +0.01%. Frankfurt +0.27%. Futures at 6:20, Dow +0.13%. S&P +0.19%. Nasdaq +0.84%. Crude +0.45% to $40.05. Gold +1.48% to $1,995.90. Bitcoin +1.83% to $11,161. Ten-year Treasury Yield -1.3 bps to 0.53% Today's Economic Calendar 8:30 Personal Income and Outlays 8:30 Employment Cost Index 9:45 Chicago PMI 10:00 Consumer Sentiment 1:00 PM Baker-Hughes Rig Count 3:00 PM Farm Prices
[H] Bioshock: The Collection and Other Bundle Extras [W] Assassin's Creed: Origins
So, recently, my friend just gave me some extra games. I'm trying to trade a Bioshock: The Collection key and more if necessary for a AC:O key. Loose Keys - Bioshock: The Collection Deponia: The Complete Collection Bear With Me - Collector's Edition Acceleration of SUGURI 2 Interplanetary: Enhanced Edition Serial Cleaner Cook, Serve, Delicious! 2!! Forged Battalion Pathologic Classic HD Battle Chef Brigade Zombie Night Terror Figment Hard Reset Redux Arma: Gold Edition A Story About My Uncle The Darkside Detective Region of Ruin Teslagrad The Count Lucanor The Last Door Lego: The Lord of the Rings Lego: The Hobbit Sins of a Solar Empire: Rebellion Warhammer 40,000: Space Marine Snail Racer EXTREME 3D Chess Planetary Annihilation Vertical Drop Heroes HD Reveal Bernackels' Shoggoth Fortified Congo Merc Deadlight The Surprising Adventures of Munchausen Majesty 2 Collection The Flame in the Flood Satellite Reign Else Heart.Break() Shadowrun Returns Egyptian Senet Humble Gift Link - Hearts of Iron IV Clustertruck Diaries of a Spaceport Janitor The Final Station Graveyard Keeper Hello Neighbor Party Hard Party Hard 2 Party Hard: High Crimes Punch Club SpeedRunners Streets of Rogue Age of Wonders III Black The Fall Deadbeat Heroes Goetia Octahedron The Turing Test Assassin's Creed® Origins I'm not a Monster The Journey Down: Chapter Three Monster Prom Wandersong 11-11 Memories Retold Impact Winter Little Nightmares PAC-MAN™ Championship Edition DX+ Project CARS Genital Jousting Highway Blossoms Just Deserts Purrfect Date Sunrider Academy Among the Sleep - Enhanced Edition Dream Daddy: A Dad Dating Simulator Getting Over It with Bennett Foddy Tangledeep Tangledeep Soundtrack Tooth and Tail Absolver Dandara MINIT Mutant Year Zero: Road to Eden Northgard She Remembered Caterpillars Steel Rats Tannenberg 12 is Better Than 6 Alone With You BLACKHOLE Cook, Serve, Delicious! Cook, Serve, Delicious! 2!! Crashlands Don't Sink Kingsway kuso Rivals of Aether Soft Body Solstice Way of the Passive Fist Fight'N Rage Late Shift Paradigm Slipstream Tower Unite Dear Esther: Landmark Edition GoNNER Headlander Ken Follett's The Pillars of the Earth Shadow Tactics: Blades of the Shogun Treadnauts Aaero Bleed 2 Full Metal Furies Rapture Rejects Rock of Ages 2: Bigger and Boulder Sniper Elite 3 Super Daryl Deluxe Tom Clancy's The Division Tom Clancy's The Division - Survival Interplanetary: Enhanced Edition Penarium Sheltered Worms Clan Wars Animal Super Squad Anomaly 2 Anomaly Defenders Anomaly: Warzone Earth Blacksmith Blade & Bones Board Battlefield Clicker bAdventure Cloudborn Convoy Cube Link Deep Dungeons of Doom Detective Case and Clown Bot in: Murder in the Hotel Lisbon Don't Stand Out Dungeon Escape Fahrenheit: Indigo Prophecy Remastered Flux8 Freaky Awesome Grimm & Tonic Guild Wars: Nightfall GUILTY GEAR Xrd -SIGN- Guns of Icarus Alliance Collector's Edition Hackyzack The Haunting of Billy Hello Pollution! Hyperdrive Massacre Indecision. Kabounce Lakeview Cabin Collection Last Encounter Lost in the Dungeon LOVE Lucius Demake Marvin's Mittens Match Point Mindball Play No Time To Explain Remastered Perfect Heist Race The Sun R-COIL Road Doom Slime-san SPLASH BLAST PANIC Splotches Super Steampunk Pinball 2D Sure Footing Switchblade Starter Pack Temple of Xiala Throne of Lies The Online Game of Deceit Tower 57 Tross Unit 4 Wizorb Zero G Arena Colt Express Fighting Fantasy Legends Fighting Fantasy Legends Portal King and Assassins Kentucky Route Zero RWBY: Grimm Eclipse War for the Overworld + Heart of Gold DLC Dead Island Definitive Edition The Dwarves Hard Reset Redux Resident Evil Revelations Sniper Elite Sniper Elite V2 Gremlins, Inc. Old Man's Journey We Were Here Too Pathfinder Adventures Sentinels of the Multiverse Sentinels of the Multiverse - Shattered Timelines Carcassonne - Tiles & Tactics Mysterium: A Psychic Clue Game Talisman: Digital Edition Ticket to Ride - Complete Bundle Bioshock Remastered Friday the 13th How to Survive 2 Layers of Fear Darksiders II: Deathinitive Edition ETHEREAL Forged Battalion Kona 12 is Better than 6 Bear With Me - Collector's Edition Dungeon of the Endless Jalopy NBA Playgrounds Action Henk JYDGE Kingdom: New Lands Shadowrun Returns Laser League Skullgirls Holy Potatoes! We're In Space?! Grand Theft Auto: Episodes from Liberty City Grand Theft Auto III Grand Theft Auto: Vice City Fortune-499 Filthy, Stinking, Orcs Sanctum 2 Grey Goo Sorcerer King: Rivals Green Man Gaming - CRUSADER KINGS II WARHAMMER END TIMES VERMINTIDE INJUSTICE GODS AMONG US ULTIMATE THE FLAME IN THE FLOOD FROZEN SYNAPSE PRIME BEAT COP SUPER CLOUDBUILT THE LITTLE ACRE INSURGENCY FEAR 3 DEAD AGE MAGICKA SERIAL CLEANER FAHRENHEIT REMASTERED OPERATION FLASHPOINT RED RIVER ROCKET KNIGHT CASTLEVANIA LORDS OF SHADOW ULTIMATE LEGO BATMAN PUZZLE CHRONICLES RAGE CASTLEVANIA LORDS OF SHADOW 2 CASTLEVANIA LORDS OF SHADOW MIRROR FATE QUARANTINE EVIL GENIUS METAL GEAR RISING BIOZONE ADR1FT METAL GEAR SOLID V GROUND ZEROES Fanatical - Antiquia Lost Forward to the Sky Shuyan Saga Steel Vampire Strikey Sisters XBlaze Code: Embryo Arcana Heart 3 LOVE MAX!!!! Guilty Gear Isuka Guilty Gear X2 #Reload INFERNO CLIMBER UNDER NIGHT IN-BIRTH Exe:Late Asura: Vengeance Expansion Fantasy Versus Lifeless Planet Premier Edition Masquerada: Songs and Shadows Oriental Empires Republique Smoke and Sacrifice Snake Pass Tracks - The Train Set Game Ziggurat BEEP DRAGON: A Game About a Dragon Destiny Warriors RPG Gun Rocket Labyronia RPG Labyronia RPG 2 LocoSoccer Out There Somewhere Storm of Spears RPG Subterra Sun Blast: Star Fighter The Odyssey: Winds of Athena Three Heroes Tiny Bridge: Ratventure Crouching Pony Hidden Dragon GAUGE HeartZ: Co-Hope Puzzles Isbarah Poöf Puddle Replay - VHS is not dead Wooden Sen'SeY House of Caravan Cultures Northland Splatter Zombie Apocalypse Squirbs Learn Japanese to survive Hiragana Battle Airscape The Fall of Gravity Revolution Ace Labyronia RPG PARTICLE MACE Cultures 8th Wonder of the World Anima Gate of Memories GIBZ Narcosis Old Man's Journey Project Highrise SEUM: Speedrunners from Hell STAR WARS Jedi Knight - Jedi Academy STAR WARS Jedi Knight II - Jedi Outcast The Low Road The Spatials Dex Figment Hive Jump Jalopy Miasmata PewDiePie: Legend of the Brofist Sky Break THE KING OF FIGHTERS XIII STEAM EDITION Blades of Time Limited Edition Blood Knights Demonicon Drakensang Etherlords I & II GemCraft - Chasing Shadows Heroes of Annihilated Empires Inquisitor Knights and Merchants Lichdom: Battlemage Numen: Contest of Heroes Rune Classic Sudeki Two Worlds II: Velvet Edition Wizardry 6&7 Asteroid Bounty Hunter Charlie's Adventure Cube Runner Duke of Alpha Centauri Fly and Destroy Hungry Flame Neon Space Neon Space 2 ShipLord Slash It Slash It 2 Spin Rush Survive in Space Upside Down Distant Worlds: Universe Heavy Burger Heroes of the Monkey Tavern I am not a Monster Learn Japanese to survive Hiragana Battle SimplePlanes Sword Legacy Omen Throught the Woods White Night Moero Chronicle Moero Chronicle - Deluxe Pack DLC 35MM Band of Defenders Deadlight Distrust Killing Room March of the Living Savage Lands Tharsis This Strange Realm of Mine Valnir Rok Survival RPG Dreamscapes: The Sandman - Premium Edition Dreamscapes: Nightmare's Heir - Premium Edition Sea Legends: Phantasmal Light Collector's Edition Witch's Pranks: Frog's Fortune Collector's Edition Kingdom of Aurelia: Mystery of the Poisoned Dagger Taken Souls: Blood Ritual Collector's Edition Silver Tale A Plot Story Hexus Jane Angel: Templar Mystery Dream Walker Witch's Tales Escape Doodland Mad Dream: Coma Earthworms Clinically Dead Mech Rage Camper Jumper Simulator ESport Manager Darkest Hunters The Sexy Brutale Beholder The Last Door - Collector's Edition The Last Door: Season 2 - Collector's Edition Cognition: An Erica Reed Thriller System Shock: Enhanced Edition System Shock 2 Metal Fatigue Spirits of Xanadu Shadow Man I Have No Mouth, and I Must Scream Homeworld Remastered Collection Tales from Candlekeep: Tomb of Annihilation PAYDAY 2 Jalopy Hover Figment Subterrain STARWHAL Scribblenauts Unmasked: A DC Comics Adventure Joggernauts The Long Reach Mainlining Coffin Dodgers The Rivers of Alice - Extended Version Zombie Kill of the Week - Reborn The Walking Vegetables Unbox: Newbie's Adventure System Shock: Enhanced Edition UNLOVED Killing Room Sir, You Are Being Hunted Styx: Shards of Darkness STAR WARS - Knights of the Old Republic STAR WARS Knights of the Old Republic II - The Sith Lords Shadowrun: Hong Kong - Extended Edition SimCity™ 4 Deluxe Edition STAR WARS™ - The Force Unleashed™ Ultimate Sith Edition METAL SLUG X Oxenfree Galactic Civilizations II: Ultimate Edition Sins of a Solar Empire: Trinity Fallen Enchantress: Legendary Heroes The Political Machine 2016 The Corporate Machine Sorcerer King: Rivals Demigod Go! Go! Nippon! ~My First Trip to Japan~ March of the Living Four Sided Fantasy Dungeon Rushers The Invisible Hours Dead Secret The Free Ones HIVESWAP: Act 1 Castle of no Escape 2 Galactic Lords W4RR-i/o-RS Nogibator: Way Of Legs WN - ShP Fairy Lands: Rinka and the Fairy Gems Drill Arena Walhall Er-Spectro Risky Rescue Frederic: Evil Strikes Back 16bit Trader Midnight Mysteries Midnight Mysteries 4: Haunted Houdini Zombie Bowl-o-Rama Little Farm Silver Knight ANKI Lift It 3 Coins At School Deep Eclipse: New Space Odyssey Green Ranch The lost joystick UBERMOSH Vol. 5 Trip to Vinelands TTV2 SWARMRIDER OMEGA UBERMOSH UBERMOSH:BLACK UBERMOSH Vol.3 Iesabel Daemonsgate Chamber of the Sci-Mutant Priestess Spiritual Warfare & Wisdom Tree Collection Prophecy I - The Viking Child Drakkhen Hostage: Rescue Mission King's Table - The Legend of Ragnarok Eternam Chaos Control Bubble Ghost Mystical Alien Rampage Frederic: Resurrection of Music Teddy Floppy Ear - Mountain Adventure Teddy Floppy Ear - Kayaking Millie Sparkle 2 Evo Story of the Survivor SharpShooter3D Goodbye My King Watch This! Crazy Oafish Ultra Blocks: Big Sale Crystal City Bloody Boobs AuroraRL Dispatcher Casino Noir Detective Noir Reptilians Must Die! The Braves & Bows Zzzz-Zzzz-Zzzz The Dweller Surfingers Timberman Sparkle 3 Genesis Cat on a Diet Zombillie Asteroid Bounty Hunter ShipLord Neon Prism Slash It Slash It 2 Cube Runner Upside Down Spin Rush Neon Space Neon Space 2 Duke of Alpha Centauri Hungry Flame Survive in Space Fly and Destroy Charlie's Adventure Luxor Evolved Luxor: Amun Rising HD LUXOR: Mah Jong Luxor: Quest for the Afterlife Samantha Swift and the Hidden Roses of Athena Red Risk Particula Overcast - Walden and the Werewolf OutDrive Invasion Cubium Dreams Iron Impact Stigmat Marco Polo Cybercube Mr. Dubstep Monstrum Wick Lethe - Episode One 35MM I Shall Remain Silence of the Sleep Rebel Galaxy Punch Club - Deluxe Edition Grey Goo Definitive Edition RiME Gloom SharpShooter3D Goodbye My King Crystal City Art of Murder - Cards of Destiny Art of Murder - Deadly Secrets Art of Murder - FBI Confidential Art of Murder - Hunt for the Puppeteer Art of Murder - The Secret Files Chronicles of Mystery - Secret of the Lost Kingdom Chronicles of Mystery - The Legend of the Sacred Treasure Chronicles of Mystery - The Tree of Life Chronicles of Mystery: The Scorpio Ritual Megadimension Neptunia VII Megadimension Neptunia VII Digital Deluxe Set DLC Galactic Lords W4RR-i/o-RS Nogibator: Way Of Legs WN - ShP Fairy Lands: Rinka and the Fairy Gems Drill Arena Walhall Er-Spectro Daemonsgate Chamber of the Sci-Mutant Priestess Spiritual Warfare & Wisdom Tree Collection Prophecy I - The Viking Child Drakkhen Marco Polo Hostage: Rescue Mission King's Table - The Legend of Ragnarok Eternam Chaos Control Bubble Ghost Mystical Alien Rampage Ocean Classics Volume 1 100% Orange Juice - Sham & Sherry Character Pack 100% Orange Juice - Acceleration Pack 200% Mixed Juice! 100% Orange Juice - Syura & Nanako Character Pack 100% Orange Juice - Saki & Kyousuke Character Pack 100% Orange Juice - Mixed Booster Pack 100% Orange Juice - Krila & Kae Character Pack 100% Orange Juice - Nath & Tomato+Mimyuu Character Pack 100% Orange Juice - Alte & Kyoko Character Pack War of the Human Tanks Worms Worms Reloaded: Game of the Year Edition Worms Ultimate Mayhem - Deluxe Edition Worms Crazy Golf Worms Blast Worms Pinball The Mooseman Sky Break Tropico 5 Super Cloudbuilt Tower 57 Dex Epistory - Typing Chronicles Deponia: The Complete Journey Table Top Racing: World Tour Riff Racer - Race Your Music! GT Legends GTR Evolution Vangers Insane 2 Zero Gear Race.a.bit Mashed Race: The WTCC Game + Caterham Expansion Little Racers STREET BARRIER X Super Toy Cars Mini Motor Racing EVO Drift Streets Japan Instant Death Spirits of Xanadu Swipe Fruit Smash Voxel Baller Breezeblox BalanCity VRog BoomTown! Deluxe City Siege: Faction Island Bomb The Monsters! Crazy Belts Rush for Glory Naval Warfare Insurgency Blood Knights Heroes of Annihilated Empires Wizardry 6 & 7 Drakensang Rune Classic Gemcraft - Chasing Shadows Knights and Merchants Etherlords I & II Sudeki Numen: Contest of Heroes Inquisitor Commands & Colors: The Great War Making History: The Calm and the Storm Gold Edition Attrition: Tactical Fronts Imperial Glory Praetorians Commandos: Behind Enemy Lines Commandos: Beyond the Call of Duty Commandos 2: Men of Courage Commandos 3: Destination Berlin Ominous Tales: The Forsaken Isle Beyond the Invisible: Evening Tearstone Entwined: Strings of Deception Vengeance: Lost Love The Rosebud Condominium Where Angels Cry: Tears of the Fallen (Collector's Edition) Lightning: D-Day Congo Merc Hold the Line: The American Revolution Battles of the Ancient World Peninsular War Battles 1812: The Invasion of Canada Russian Front 7 Wonders II 7 Wonders of the Ancient World 7 Wonders: Ancient Alien Makeover 7 Wonders: Magical Mystery Tour 7 Wonders: Treasures of Seven Discovery! A Seek and Find Adventure Gardens Inc. 2: The Road to Fame Glowfish Little Farm Luxor 2 HD Luxor 3 Luxor Evolved Luxor HD Luxor: 5th Passage Luxor: Amun Rising HD LUXOR: Mah Jong Luxor: Quest for the Afterlife Midnight Mysteries Midnight Mysteries 3: Devil on the Mississippi Midnight Mysteries 4: Haunted Houdini Midnight Mysteries: Salem Witch Trials Midnight Mysteries: Witches of Abraham - Collector's Edition Pickers Samantha Swift and the Hidden Roses of Athena The Dweller Iesabel EM: Shader Attack Invasion Labyronia RPG Labyronia RPG 2 Legend of Mysteria RPG Chosen 2 Balloon Blowout Bayla Bunny Block Blowout Chess Knight 2 Dessert Storm Fantastic 4 In A Row 2 Fantastic Checkers 2 Ludo Supremo Mahjong Deluxe 2: Astral Planes Mahsung Deluxe Mini Golf Mundo Pepe Porcupine Puppy Dog: Jigsaw Puzzles Puzzles Under The Hill Ultimate Word Search 2: Letter Boxed Bubble Blowout Train Valley Broken Sword Trilogy Daemonsgate Chamber of the Sci-Mutant Priestess Prophecy I - The Viking Child Drakkhen Marco Polo Hostage: Rescue Mission King's Table - The Legend of Ragnarok Bubble Ghost Mystical Ocean Classics Volume 1 Pandora: First Contact Ara Fell 35MM Grand Ages: Rome GOLD GT Legends Nether: Resurrected CAT Interstellar Circut Breakers Memoranda Sins of the Demon RPG Gladiator Trainer Dragon Sinker Neon Chrome Skullgirls Mad Games Tycoon Replica Patrician IV - Steam Special Edition Patrician IV: Rise of a Dynasty Patrician III The Swindle Zenith Hive Jump ICY: Frostbite Edition Commandos Collection Revhead Car Mechanic Simulator 2015 Demolish & Build 2017 Robot Squad Simulator 2017 Skullgirls & DLC The Mims Beginning Dreamstones Cally's Caves 4 Tank Battle: East Front Tank Battle: Pacific Tank Battle: Normandy Tank Battle: North Africa Tank Battle: 1944 Tank Battle: Blitzkrieg Tank Battle: 1945 Civil War: 1861 Civil War: Bull Run 1861 Civil War: 1862 Civil War: 1865 Civil War: Gettysburg Civil War: 1864 Forbidden Clicker Party SK8 King of the Eggs Bouncy Bob Hotel Dracula Warfront Defenders: Westerplatte Pony Island Who's Your Daddy SWARMRIDER OMEGA SWARMRIDER OMEGA OST DLC SWARMRIDERS: Original Soundtrack DLC DinoSystem Super Sports Surgery Middle-earth: Shadow of Mordor Game of the Year Edition Startide Timberman Kathy Rain Table Top Racing: World Tour Z Dark Years Exowar Total Extreme Wrestling World of Mixed Martial Arts 3 IGT Slots Paradise Garden Anti-Opoly Wrestling Spirit 3 Draft Day Sports College Basketball 3 Draft Day Sports Pro Basketball 4 Defend Your Life Hyperdrive Massacre The lost joystick Orbital Racer RUNRUNRUN Murder... UBERMOSH:BLACK Trip to Vinelands SWARMRIDER OMEGA Bad Dream: Coma Mad Games Tycoon Perfect Universe Daddy's Gone A-Hunting Deep Dungeons of Doom Worms PolyRace The Way Indiegala - This Strange Realm Of Mine Bot Vice Koloro Dungeons & Vampires Eliosi's Hunt Westboro Aspect Grim Legends 2: Song of the Dark Swan The Secret Order 2: Masked Intent Queen's Quest 4: Sacred Truce Chronicles of Magic: Divided Kingdoms Kingmaker: Rise to the Throne Ghost Files: The Face of Guilt Lost Grimoires: Stolen Kingdom Crime Secrets: Crimson Lily Grim Legends 3: The Dark City Mind Snares: Alice's Journey Particle Mace Secret of Magia Sins of the Demon RPG Splatter - Zombie Apocalypse Airscape - The Fall of Gravity Fate Tectonics Battle Ranch: Pigs vs Plants Earth Overclocked Greyfox RPG When Our Journey Ends - A Visual Novel Wish -tale of the sixteenth night of lunar month- Cursed Sight A Winter's Daydream Empty Horizons Poker Pretty Girls Battle: Texas Hold'em Pretty Girls Mahjong Solitaire Pretty Girls Panic! Mahjong Pretty Girls Battle Dungeon Manager ZV Boneless Zombie Delicious! Pretty Girls Mahjong Solitaire Koi-Koi Japan [Hanafuda playing cards] Mahjong Pretty Girls Battle: Schools Girls Edition Wild Romance Dungeon Manager ZV 2 Alvaris 2: The Return of the Empress Princess Kaguya Koi-Koi Japan: UKIYOE tours Vol.1 Koi-Koi Japan: UKIYOE tours Vol.2 Koi-Koi Japan: UKIYOE tours Vol.3 Pretty Girls Panic! (Chinese version only) Pretty Girls Mahjong Solitaire (Chinese version only) Slash or Die Containment Slash or Die 2 RepairBot Roots of Insanity Stories of Bethem: Full Moon Stellar Interface Trench Run LoveBug 12 Labours of Hercules VII: Fleecing the Fleece (Platinum Edition) A Dream For Aaron A Duel Hand Disaster: Trackher ARENA GODS Adelantado Trilogy. Book Two Adelantado Trilogy. Book one Adventures of Dragon Aircraft Evolution Alice in Wonderland - Hidden Objects Alicia Quatermain 2: The Stone of Fate Alicia Quatermain: Secrets Of The Lost Treasures Amelon BAD END BELPAESE: Homecoming Battle High 2 A+ Beat The Game Bitcoin Miner Blind Men BlowOut Border of her Heart Bottom of the 9th Bravium Brawlout Broken Minds Burnin' Rubber 5 HD Chinese Ink Painting Puzzle & Creator Clash of Puppets ClickBit Coffee Crawl Crashday Redline Edition Crazy Pirate Crisis in the Kremlin Crystal Catacombs Crystals of Niberium Cube Zone Cubiques Cubiques 2 Curse: The Eye of Isis Digital Resistance Disparity Drake of the 99 Dragons E-Startup Elbub FreeHolder Gladiator: Sword of Vengeance Goldmine Gothicc Breaker Hentai Puzzle Hentai Sokoban Hide The Body I.F.O Inexplicable Geeks: Dawn of Just Us Insanely Twisted Shadow Planet Insert Paper: Update Insurgence - Chains of Renegade Joy Climb Judge Dredd 95 Krampus Quest Krautscape LOOT BOX ACHIEVEMENT SIMULATOR Legend of the Skyfish Lunch Truck Tycoon MIND SHIFT Maze of Infection Mines of Mars Mini Ghost Mission: Escape from Island 2 Morphite Moto Racer 4 Moto Racer 4 - Space Dasher Moto Racer 4 - The Truth NALOGI NALOGI 2 Navalny 20!8 : The Rise of Evil Negligee Neon Shadow Neverliria Next Hero ORCS PLATI NALOG: Favorite Russian Game Panzer Hearts - War Visual Novel Paper Shakespeare: To Date Or Not To Date? Paradox Wrench Penny Arcade's On the Rain-Slick Precipice of Darkness 3 Pixel Hentai Mosaic Pixelpunk XL Plant This Q-YO Blaster Questr Ravensword: Shadowlands River City Super Sports Challenge All Stars Special Rot Gut STATUS: INSANE SUPER BENBO QUEST: TURBO DELUXE Science Girls Shadowgrounds Shield Impact Shout Of Survival Spooky Cats Store Simulator 2018 Strangers of the Power Suna SwordBounce The Adventures of Elena Temple The Bluecoats: North vs South The Deer God The God The Last Dawn : The first invasion The Lost Gardens The Princess Adventure The Reject Demon: Toko Chapter 0 - Prelude The Uncertain: Episode 1 - The Last Quiet Day They Are Hundreds Tokyo Twilight Ghost Hunters Daybreak: Special Gigs Toy Odyssey: The Lost and Found Usual John Visceral Cubes WeakWood Throne Welcome to Princeland Wings of Vi World's Dawn YumeCore Zombie Desperation the Line Fanatical Software - Decent Icons Live Wallpaper Master Rytmik Lite Chiptune Synthesizer Nimble Writer Rytmik Ultimate Rytmik Ultimate - Rock Expansion DLC Rytmik Ultimate – Voice & Acoustic Expansion DLC SPATIAL SOUND CARD
The Justice Department's internal watchdog is expected to releasetoday a long-awaited report on the FBI's handling of the Hillary Clinton email investigation that she said contributed to her 2016 presidential election loss. (Reuters)
President Donald Trump is reportedly expected to meet with his top trade advisors today to decide whether to activate threatened tariffs on billions of dollars in Chinese goods. (Reuters)
China threatens to scrap US trade deals if the White House hikes tariffs (AP)
U.S., South Korean, and Japanese officials strove to present a unified stance this morning, in an effort to quell concerns about Washington's military commitment to Asia after President Trump's meeting with North Korean leader Kim Jong Un. (CNBC)
Japan considering Abe-Kim summit with possible Pyongyang visit(Reuters)
Tough sanctions will remain on North Korea until the rogue nation completes denuclearization, U.S. Secretary of State Mike Pompeo said this morning, apparently contradicting Kim's view that the process agreed to at this week's summit would be phased and reciprocal. (Reuters)
White House press secretary Sarah Huckabee Sanders played down a report that she plans to quit the Trump administration at the end of the year, but she stopped short of a flat-out denial. (Newsweek)
Stormy Daniels' lawyer Avenatti and ex-Trump aide Scaramucci go head-to-head on late night (NY Post)
Stephen Bannon, 10 months removed from the job as Trump's chief strategist and five months after his ouster from conservative news site Breitbart, is betting bitcoin and other cryptocurrencies can disrupt banking the way the president disrupted American politics. (NY Times)
SEC's policy on cryptocurrencies is confusing. That may be cleared up (CNBC)
Apple (AAPL) is closing the technological loophole that let authorities hack into iPhones, angering police and other officials and reigniting a debate over whether the government has a right to get into personal devices. (NY Times)
Microsoft (MSFT) is working on technology that would eliminate cashiers and checkout lines from stores. That would represent a challenge to Amazon's (AMZN) automated grocery stores. (Reuters)
Players of hit game "Fortnite" have hit out at Sony (SNE) over a problem that has seen users have issues playing the title on a Nintendo Switch console after initially using it on a PlayStation 4. (CNBC)
SoftBank Group is reportedly in discussions to invest another giant slug of capital in WeWork, with a deal that would value the shared-office company at $35 billion to $40 billion. (WSJ)
Twitter (TWTR) has retooled its service to more prominently suggest news stories and real-time events for users to follow, in an attempt to stand out with advertisers by emphasizing what's happening now. (Reuters)
Facebook used less for news as youngsters turn to WhatsApp (Reuters)
Elon Musk's Boring Company has won the bid to build a high-speed express train to Chicago's O'Hare International Airport, beating a consortium that included an engineering firm that worked on a terminal at London's Heathrow airport. (CNBC)
Musk buys 72,500 more Tesla shares, upping stake to $11.6 billion(CNBC)
Comcast – Comcast is offering $65 billion for 21st Century Fox assets that Fox had already agreed to sell to Walt Disney. The bid by the NBCUniversal and CNBC parent is worth $35 per share and represents a 20 percent premium over Disney's all-stock offer. Disney is lining up financing for a possible counteroffer that would include a cash component, according to The Wall Street Journal. Fox acknowledged receiving the bid and said it would review it.
Oracle – J.P. Morgan Securities downgraded the business software maker's stock to "neutral" from "overweight," saying the company's fundamental performance has been inconsistent even as the stock price has been rising.
Michaels – The crafts retailer beat estimates by a penny a share, with adjusted quarterly profit of 39 cents per share. Revenue also beat forecasts. Michaels posted a comparable-store sales increase of 0.4 percent compared to a year earlier. However, Michaels gave a weaker-than-expected current-quarter forecast and said comparable sales would be about flat.
Tesla – CEO Elon Musk has bought an additional 72,500 shares of the automaker, worth about $24.9 million, according to a Securities and Exchange Commission filing. Musk now owns about 33.7 million shares worth about $11.6 billion.
Tailored Brands – The company reported adjusted quarterly profit of 50 cents per share, 2 cents a share above estimates. The apparel retailer's revenue also topped forecasts. However, the parent of Jos. A. Bank, Men's Wearhouse, and other apparel chains posted a 2.1 percent increase in comparable-store sales, falling below a 2.5 percent consensus estimate.
General Electric – GE was urged by France's finance minister to stick to its commitment to create 1,000 jobs at energy producer Alstom. GE had made that commitment when it bought Alstom's energy business in 2015, but GE subsequently said the target was out of reach.
Microsoft – Microsoft is working on technology that would eliminate cashiers and checkout lines from stores, according to a Reuters report. That would represent a challenge to Amazon's automated grocery stores.
Mylan – The drugmaker said it was informed by the Food and Drug Administration that its generic version of GlaxoSmithKline's inhaled lung drug Advair could not be approved because of "minor deficiencies." It was Mylan's second rejection for its generic Advair product.
Twitter – Twitter has retooled its service to more prominently suggest news stories and real-time events for users to follow. The changes will be rolled out to Twitter mobile app users over the next few months.
Apple – Apple is working on a feature that The Wall Street Journal said may make it more difficult for law enforcement officials to retrieve data from iPhones. Apple said the feature is designed to strengthen safeguards against all potential intruders and that it is not designed to frustrate law enforcement efforts.
bigbear0083 has no positions in any stocks mentioned. Reddit, moderators, and the author do not advise making investment decisions based on discussion in these posts. Analysis is not subject to validation and users take action at their own risk. bigbear0083 is an admin at the financial forums Stockaholics.net where this content was originally posted.
What is on everyone's radar for today's trading day ahead here at StockMarket?
I hope you all have an excellent trading day ahead today on this Thursday, June 14th, 2018! :)
Without Further Innovation Cryptocurrency Scalability is at Risk
In 2008, an anonymous individual or group of individuals going by the name of Satoshi Nakamoto, created the concept of a “purely peer-to-peer version of electronic cash” that would allow payments to be sent between parties without going through a financial intermediary such as a bank. Using cryptography to power a consensus algorithm, such electronic cash could be recorded on a distributed ledger by a community of nodes and miners operating on the same network. The beauty of this system is that it negated the requirement of a single trusted entity to maintain the network, instead the work to append transactions to the ledger would be distributed to the community of nodes without the need for trust. From this point, the concept of a decentralized currency system was born, and the technology that powered it was called blockchain. This new system of transferring electronic cash between parties revolutionized the industry. It created a new way for people to send money to each other, without paying exorbitant bank transaction fees, and waiting several days for funds to show up in the receiving party’s account. It was the first, low-cost, low latency method of moving currency without a financial intermediary. The technology behind this allowed entities to submit transactions into the blockchain without anything more than a destination address and their private key. Completely eliminated was the need to create an account and submit one’s personal information — it was the first way to send digital funds, in an anonymized manner. This obviously had far reaching implications in the transfer of money, and, as expected, the earliest adopters were those whom wished to purchase illicit goods and services, without having to provide any identifying information. Despite its use, these early adopters helped to prove the model and pave the way for wider scale adoption. But life in the crypto world isn’t always without drama. In 2014 the FBI confiscated the Silk Road website and its assets, including bitcoin held in its accounts, and shortly thereafter the largest exchange in the world, Mt. Gox, imploded as a result of a mysterious hack. Still, the currency remained strong, as the demand for a fast, inexpensive, and anonymous way of sending funds across the globe was very high. 2017 marked a turning point in the world of cryptocurrency, where demand was no longer fueled by the requirement to transfer money, but by the Fear of Missing Out (FOMO) on a frenzy of speculative mania. But behind the meteoric surge in popularity came a dark reality that few openly discussed — the potential for the modern cryptocurrency to fail in scaling with the unanticipated demand. In January of 2017, near the start of the year long cryptocurrency rally, the average bitcoin transaction cost was just $0.35 with a confirmation time of 12 minutes, about 20% more than the difficulty adjustment setting built into the protocol. By its peak, just a year later, the average confirmation time skyrocketed to over 5,400 minutes, at a cost of nearly $55 per transaction. Today the prices and times have settled, but if we learned one thing from the crypto boom, it’s that, the currencies meant to change the world by circumventing banking subsidiaries, ended up costing us drastically more, while taking an enormously longer period of time to settle. For the first time we understood that the technologies that promised to undermine banking, were woefully underbuilt to deliver on this mission, and the altruistic development teams that maintained the core client were so decentralized that they were unable to agree on a single solution to scalability. Bitcoin ended up being prohibitively slow to use in any real world scenario, and the dream of using it as an everyday currency quickly vanished. Perhaps you may argue that these are problems with bitcoin alone, but for illustration sake, given identical time frames, Ethereum transaction fees jumped 830x to $4.15 per transaction, and more than doubled in block time to 30 seconds. If a cryptocurrency designed to usurp Bitcoin in cost, speed and utility suffered the same fate of it’s older brethren, than it’s safe to say that even the most brilliant minds are no match for the resources and infrastructure of a major credit card network, or even an online payments system like PayPal. The implications of the lack scalability mean lost time, lost capital, and perhaps, most importantly, lost potential as a daily currency. Therefore, it is has never been more important for the core development teams that maintain these networks to find solutions to scale the networks to handle the loads that rival the transactions per second (tps) of the major financial providers. There’s light at the end of the tunnel — cryptocurrency is less than a decade old, and mainstream use is only a phenomena of the past nine months. The challenges experienced by the most widely recognized cryptocurrencies are ones that have been introduced in a relatively short period of time. The raw software engineering talent we possess in our modern time is incredible. Today we’re seeing off-chain scaling solutions that have demonstrated significant potential — allowing us faster transaction times while limiting use of the blockchain exclusively for settlement and finality. We are also seeing innovations in the consensus algorithms that power the network, with less computationally (and electricity) expensive and faster settling versions being implemented in newer cryptocurrency platforms. Even the infrastructure that powers our ecosystems are improving. Exchanges are as fast as they’ve ever been, serving high frequency trading algorithms, with lesser and lesser fees. They are also numerous and provide a wide array of currencies to trade. Wallet technology has evolved to allow us to store currency offline, air gapped and in “cold storage” from something as small as a USB drive. It is therefore critical that we continue to innovate and apply our combined ingenuity and resourcefulness to further the cryptocurrency ecosystem. Afterall, it was born out of decentralization, and without the motivations of a corporation that reports to shareholders, extra effort and unity is required to coordinate growth, where governance would have otherwise been provided by a single entity. Given enough time and motivation, all of the challenges posited in this article can be solved — indeed we are already seeing this happening today. At Ternion, we welcome the challenge of innovation. We believe technological progress is shaped by those willing to accept the challenge. Our goal is to produce solutions that help positively impact our world, starting with a complete cryptocurrency ecosystem that builds upon payments and exchanges.
14 Things We Learned Creating a Million Dollar Hyperdeflationary Currency (DRAFT)
Four months ago we made a reddit post announcing a social experiment to create a “self-destructing currency” called BOMB. The reactions were polarizing, to say the least: Some comments were positive
A currency that no one wants to spend but everyone wants to have would result in an ever growing value. However, it might only be on paper because no one wants to spend it. I wonder what will happen. I really hope this gains popularity, very interesting.
The reaction of the events over the next months took us down a winding road of adventure and a fair share of heart attacks. One day we would get an endorphin rush after the co-creator of the #OccupyWallStreet movement wrote an article; the next day we would find a major vulnerability in the code that would literally cause us to re-issue tokens. Through it all, the journey has been a rewarding one, and we learned a lot along the way. Here are the top 14 things we learned while creating a million dollar hyper deflationary currency.
1) A Deflationary Asset Can Survive... So Far At Least.
One of the biggest things we wanted to learn when starting the social experiment was to ask:
The blockchain industry consists of some of the most talented technical and visionary minds in the world. However, despite this, most average consumers haven’t experienced a blockchain application or used the currencies built on top of it. While there is still plenty of time for true mass adoption to occur, it has become clear that the amount of technical value being developed is not equating to the amount of activity or users. We believe this is not for lack of building, but for lack of storytelling and communication. Average consumers don’t resonate with technological features, they resonate with the stories and the advantages within a solution. Bitcoin, the most successful cryptocurrency to date, has one of the best stories behind it. An anonymous and mystical figure behind the name of Satoshi Nakamoto took his passion and pain from the financial crisis of 2008 to create a better solution. The building behind BOMB wasn’t intensive or complex at all, just a few dozen lines of code in solidity. But that wasn’t our story. Our story was our journey and social experimentation of a deflationary currency. That is why people joined, and this is what keeps people intrigued still to this day.
3) Hodling is Still Alive & Kicking
Despite the average airdrop value sitting over $200 per participant, 84.5% of people have not touched or moved their BOMB. Out of 3073 current addresses, 2604 people would rather hold than sell their BOMB.
4) The Cryptocurrency Industry is Skeptical by Default
Despite giving away all our tokens for free and answering questions as transparently as possible, the default response was skepticism; and rightfully so. Despite over $13,000,000,000 in public capital allocated to the decentralized world in the first half of 2018 alone, over 1000 projects are now dead. Many of the people who joined the industry joined during this time and still feel the resentment to this day. While it will probably take many years to overcome this skepticism, and may never go away, we learned it is important to take every comment and negative remark in stride. Some are valid concerns, but a majority aren’t actually mad or disgruntled with you, but at the industry as a whole.
5) Going from 0 to 1 is 10x harder than 1 to 10
Like most projects, when we started, our followers and community count started at zero. During the first few weeks of sharing the story of BOMB with a few friends, the growth was extremely slow (relative to what it is today) at maybe 1–5 people per day. Nobody wants to be the first to the party. When you’re walking down the street, everyone assumes the crowded bar is better than the empty bar. The one thing you can do to overcome this early stage is making your early adopters feel like absolute VIPs. More than the early adopters getting more free tokens than everyone else, myself and the co-creators spent endless hours on telegram talking with each and every single person who joined. There was not a lost soul who wandered into our group that didn’t get an overly ambitious introduction. This is the core and foundation that will set everything in motion. While I no longer introduce myself to every new person to the group, our community does, and its an amazing feeling.
6) Clear & Concise Communication is Everything
When I first started telling my friends about BOMB, the natural response was “What else does it do?” We as humans have a natural instinct to think more is better. Many founders start with a very clear mission to create something like a comfortable chair but they end up explaining their product as an “Anti-Gravitational Sitting Apparatus to Disrupt the Entire Furniture Industry with Built-in LED Lights and Omni-Rocking Functionality” The problem is when we try to communicate this vision to the world, our vision becomes convoluted and messy. The most successful projects to date consist of the ones doing one thing better than anyone else. When people explain what BOMB is, they explain it very clearly and concisely: A deflationary currency. When people explain how BOMB works, they easily recall and reference the three rules of the currency as stated above.
7) Transparently Bad News is Better than No News
The biggest “OH SNAP” moment for BOMB occurred in February, just a few weeks after airdropping our creation to the world. A community member following the project found an error on the code that could open up the currency to exploitation in the future. Rather than attempting to hide the situation, we made a medium post to explain the situation and news to the community. Just a few weeks ago, many of our community members began to get anxious about a potential exchange listing that was taking longer than expected. While frustrating to take criticism for items we couldn’t control, we wrote a 19 thread tweet storm titled “Transparency Update”. Despite the negative news, the community loved it and felt closer to the project than ever. People many times don’t mind what happened, as long as they understand why you did it, and the reasoning behind it. Yes, there will always be that 10% that won’t accept your answer. But the people who truly care about your vision and value will stick with you. Those are the people who matter.
8) You Don’t Need to Spend $25,000 on an Exchange
Getting on an exchange after raising zero capital was definitely hard. We made a commitment early on that we would never ask our community for money, so everything we did had to be extremely scrappy and resourceful. To help get us off the ground, a few of our early members kept talking about a community/technology called ParJar. In short, this was a telegram bot we could implement that allowed our community to openly trade BOMB instantly and feeless whenever they wanted. There are a lot of items that helped us build our community, but we believe ParJar gave us more native engagement than any other campaign we have done. This organic incentivization ecosystem for individuals to exchange assets was and continues to be the backbone and foundation for our growth.
9) Not All Exchanges Are Created Equal
Even at the peak of the bear market, exchanges attempted to charge anywhere between $20,000 and $250,000; and those were the low-level ones. We definitely couldn’t afford this. After doing more research, we narrowed down our goals with exchanges and what we were trying to accomplish. While many projects immediately want to get on the “bigger volume” markets, research showed there were only a handful of exchanges that had real volume. The rest were doing a lot of wash trading. Instead of going after the top level exchanges, we focused on connecting with other respected and up-and-coming exchanges that would be willing to work with us on integration. The deflationary features inside our contract make us incompatible with many exchanges. This was a full-time job in itself. After many months of searching, we were able to really connect with the team at DDEX (an exchange that is venture backed by reddit’s co-founder) that saw the potential in BOMB and took a chance on us.
10) Liquidity Premium is a Real Thing
While I have heard the term ‘Liquidity Premium’ before, I didn’t quite know how this would impact a deflationary currency. In short, a liquidity premium occurs when something costs more/less because it has high/low liquidity. The best way for me to think of this is a house. Although houses are valuable, they many times take months to be sold or liquidated for cash. Because of this, prices can be up to 20–30% lower than it would be if it were liquid. In relation to BOMB, our goal from the beginning was to decrease token velocity as much as possible. The side effect of this was low liquidity. As soon as we reached Mercatox (a centralized exchange that didn’t burn the tokens) BOMB value increased by nearly 25–50% overnight. Of course, we can probably attribute some of this to new eyeballs and demand, but it has been interesting to watch the arbitrage between a DEX (burns BOMB) and a CEX (doesn’t burn BOMB). Price After Mercatox Listing
11) The Market Decides Value, Not the Founders
One of the biggest questions we got in the early days was:
How much are BOMB worth?
When we explained that the tokens were being given away for free, many equated this to no value. In traditional coins or tokens, the value is determined (or at least decided) by the founders at the price they are willing to sell them at. If XYZ project decides to launch an ICO and sell them at $1, that is the given “value” of the token. The problem with this premise is that this initial value is completely arbitrary and theoretical until it can be actively traded. I can attempt to sell my car for $250,000, but if the market will only pay me $250, that’s what its worth. If we learned one thing from the 2018 bear market, its that the founder’s of projects are very bad at knowing the intrinsic value of their own tokens; many times 90–99% off. Rather than giving our token an arbitrary number, we gave every single token away for free and let the world decide its value.
12) Capital is a Luxury, Not a Necessity
In the startup world, people many times reference the Lean Startup approach. The premise is pretty simple, get your idea into the world for as little amount of money as possible, and see if the world is willing to give it value. In the cryptocurrency world, everything seems to be backward. Cryptocurrencies spend months planning an ICO, then another few years developing a project, only to find out if their idea is worth building. Millions of dollars are spent on the building before confirming the demand. IF you truly believe you have an idea that people want or need, and IF you are willing/able to build an MVP first, and IF you want to build a community fueled project; give a portion away for free and let the market decide your fate. Then, if the market gives it a thumbs up, you have some liquid capital to build your grand vision; all while raising zero capital.
13) Code is Replicable, Community is Not
One mission of BOMB from the beginning was to hopefully provide a financial case study for other people to learn from and implement into their own tokenomic structure. We anticipated and expected others to do this. But, what we did not expect is the number of exact copy cats that would arise of the first weeks. At this time on Etherscan, there are more than five other replicas of BOMB that people created. While we were originally discouraged at others attempting to directly imitate our project, we quickly learned that what made BOMB special was no the code, but the community of people around what we were creating. You can copy code, but you can’t copy a community.
14) People Who Truly Believe in Something Will Go Above and Beyond
To this day, we haven’t paid anything beyond a few #BombUp rewards to our community. And yet, they do some of the most creative, amazing, and impressive creations we could have ever asked for. Report: An in-depth financial and data-driven report on BOMB explosions, price, and analytics trends. Art: Everything from designs to stickers for the community to use and play with. Bomb Up: A community member-run group that gives away BOMB every day for playing telegram games. Articles: Some of the most passionate people writing in-depth articles about the project. Languages: Alternative languages that wanted to discuss BOMB in Russian and German.
There is no doubt that to some, BOMB will be nothing more than a meme coin, and we are okay with that. One of the most fascinating parts of this experiment has been watching our original meaning, goal, and vision of BOMB change and evolve for other people over time. Instead of attempting to control the dialogue, we let the community interpret the project in whatever way they want. This individual empowerment has truly given the currency a life of its own and the amount of fun, insight, and overall awesome people we have been able to connect within our short lifespan has been nothing short of amazing. At the current rate of deflation, if the current pace stays constant the last BOMB is expected o be destroyed by 2031. BombLytics Bot _______________________________________________ If you would prefer reading or sharing this story through a medium format,here is the link.
Well, this was a harder chapter than any other to finish. I was actually stuck a little, and had to figure a way out, but finally did, it just took a while. I hope you like the way things came out. I'm especially proud of how the guy from Arizona came out. He's based on a guy I met when I was working around some post-doc chemist types. Brilliant, but awkward and super nice. As always, thanks for reading! PART 15 PART 1PART 4PART 7Part 10PART 13 PART 2PART 5PART 8PART 11PART 14 PART 3PART 6PART 9PART 12 “So you mean to tell me that all the good actionable intelligence our team’s have been fed has been from you?” The US soldier was intense, but personable. He was known as one of the more reasonable and intelligent commanders in the Army Special Forces. “This last like 4-5 months, Yes,” Mark said. “And all the bullshit about the Ultimate Spartan Race teams and the Online Game championships are your way of building a military without building a military?” This was from a thick Samoan guy from the SEALs. “Yup,” Mark said. “And Musk going to the moon... Y’alls Idea?” This came from the handlebar mustached mouth of the Marine Raider. Mark smiled. “Technically, no. Meeting me did bring his timetable up like 2 years with some of the Tech I've been able to help him with, but going was his idea after he’d sorted out his self landing rocket stages.” “And now, you expect us to believe that we’ve not only been visited by aliens, but we’re on the cusp of joining them at some intergalactic ‘Big Kid’s Table’ just because some guy in Arizona has figured out Faster than light travel?” The combat controller guy from the Air Force looked very skeptical. Mark looked around the room. This was his biggest gamble yet. He’d had the internet Ops AIs finagle the orders for ten of the top tier special operators in the US military to be in the same room at the same time and just finished going over what he’d been through. He’d bought this little off strip Vegas casino as a way to hide in plain sight and have the odd covert meeting. Oh, and he’d always wanted to own a casino. What’s $60 Million when you are controlling a Trillion or three? “I am,” Mark said. There was a podium and table at the head of the conference room, with a T-45 on one side. He was sitting on the table, facing the men. He’d never been a podium guy. “What kind of thing would convince you? The tech level is impressive, I mean, you can make just about anything you want.” Mark stood and walked over to the T-45 and opened it with his implant. The men all looked at it with caution, several stood up, hands to their sides like they intended to draw concealed weapons. “Calm down, gentlemen. It has no weapons. Sit. Please.” Mark had his hands up, trying to calm things down. “Would I arrange to meet you in Vegas just to pull some stupid shit? Come on.” The men who’d stood sat back down. “Good, thank you. Now, when I first arrived on Belora 7, I wanted to conceal my species so I impersonated a species that needed artificial atmosphere, so I made some generic power armor. Then I wanted something I could fight in. Something imposing. What’s more imposing than this? Anyone want to try this on?” No one moved. “I’m quite serious.” Immediately a lean, very tanned soldier stood up. Mark’s implant showed him to be a Navy SEAL who’d also trained with the Navy’s 10th fleet cyber division. A SEAL hacker. Who knew. “Isaac, Right?” Mark started. “Come on over. It’s crazy easy to drive.” The man looked surprised by neing called by name as no one wore name tags, but walked over. He ran his hand over it’s outside. “Feels strange. Titanium?” He asked “No, it’s some crazy blend of steel with an ablative ceramic coating. The ceramic burns off and the resulting smoke attenuates the beam. Very good in high Vacuum environments, but still plenty good in atmo.” Mark answered. He looked at the helmet and all of it’s optics and sensors. “Thermo, Night vision, telescopic vision. What else?” Mark smiled. “Ultrasound echolocation, RADAR, LIDAR, enhanced hearing, and full specrum visual ablility. There are also built in dampeners for the recon suite so a person doesn’t get fried by flash. Here, step into it, just like the game, and say ‘Close Hatch’.” The SEAL did as instructed. Several of the men had walked over by this time to look at the armor. Mark pointed to the screen on the wall. He’d turned it on and tasked the feed of Isaac’s sensors through the projector. The screen showed the typical HUD that the suit used. Isaac moved his arms up and down and raised and lowered his feet. He thrust his hand out to shake with the big Samoan SEAL in the room. The man shook his hand and smiled. Isaac turned to Mark. “I can’t exactly feel his hand, but I know it’s there somehow. The suit is very responsive. Is it fast?” Isaac’s voice was slightly mechanical as it came over the suit’s speakers. Mark swept his hand like Vanna White, indicating the rest of the room. The room wasn’t huge, maybe 30 feet on a side. “You don’t have very far, but you’ll get the idea. The answer is not really, but fast enough.” The heavy armor jogged, rather fast, the length of the room and back as Mark talked. “I sacrificed protection for speed, though with the right input we could design something better I imagine. I have an implant installed in my brain that allows me to control the suit’s functions with thought.” There were some hushed conversations about that. Mark smiled and responded. “Yeah, there are implants too, Ray, like amplified hearing, a few vision improvements like night vision and telescopic vision. Those came at the expense of my Meat eyes, but you can’t hardly tell.” There were a few ‘holy shit’s’ said among the men. Mark routed the screen through his eyes and everyone looked to the screen then back at Mark once they realized what was going on, watching his eyes flick to each man, a small icon showing the man’s first name and branch of service. “I also had my metabolism tweaked and my musculature modified a little. That hurt but I am stronger than any of you. Even though I look like a civilian puke.” The group laughed, but were a little off guard. They were all the best of the best. They weren’t used to coming up second. “See, here’s the thing. I am 35. Until I got abducted, I was shooting three gun, going to Dog Brother gatherings, fighting in HEMA competitions, doing Crossfit 6 mornings a week, running the odd 5k. Shit like that. I was in pretty good shape. Good fighting shape for a civilian. Then I get taken to the land of high tech and they make me better. But that wasn’t what made me want to bring the Earth into the community.” He let those words sink in a second, looking around at the people gathered around him. “When Flurr did all that shit for me, he cured my testicular cancer that I didn’t know I had. And he didn’t do it in a ‘I think we got it all’ kind of way, it was in an ‘oh by the way, it’s no big deal’ kind of way.” There were some murmurs at that. “Imagine you found out you had cancer. Or your kid. Right now we take our kids to the doctor for an ear infection. They get antibiotics and get better. What if cancer was like that? Go to the doc and get the CURE. Or for fuck’s sake, food. What if every kid had access to good food and good education and opportunity, all they needed was imagination and drive? Guys, we can change the world. I can’t say we can change the Galaxy, but I’m damn sure we can change the direction of the species.” There was cheering and clapping. The skeptics seemed to go from the sidelines to all in. If he could convince these guys, Mark was pretty convinced he could do just about anything, especially with their help. “So what now?” Isaac asked, voice still the mechanical amplified version. “You have to return the suit,” Mark said, in a false serious tone. Everyone laughed and the suit opened. “Ok, well, here’s the rub,” Mark started. “I’m not sure. In nursing school there wasn’t a course for ‘Ascending the Earth into the Intergalactic Community’.” Everyone laughed. “Did they go over it in bootcamp?” There was more laughter. “Basically, I’m assembling a team. I’m using the Over the Horizon game to train pilots and the Ultimate Spartan Race to get people more fit in general. I don’t know if I can expect them to fight, though initial research shows that some of them are considering joining the military, realizing that their training is a good crossover.” Mick, one of the Army SF guys spoke up. “I’m not sure that’s a good idea, sir.” All eyes turned to the poster child for the Army. A jaw drawn with a straight edge met with massive traps and wide shoulders. His hair wasn’t regulation, but Delta guys seldom were. "See, Drill Sergeant’s want to break you down and train you to military standards. Civvie schools, while giving people good training aren’t the same. My Drill Sergeant was trying to get city kids not to eat rocks. They don’t have time to adapt someone’s training to what the Book teaches.” Ray, the Marine Raider chimed in. “That’s a fair assessment. I can’t imagine my Drill Instructor trying to Unfuck some kid who’s holding the gun way ass out at the end like you three gunners do,” and looked at Mark with a smile. All the military folks laughed. Mark held his arms up in mock offense. “For the record, I took my rife training from a Former SF guy named Rodrigo Sandoval. He made fun of those guys, and said I’d be better off not forming bad habits.” “I know Rod,” Mick said. “We were in … well, we were in a country at the same time.” There were some laughs at his vague comment, all being too familiar with what they could and couldn’t say. “Yeah, good guy. Hell of a shot.” There was a little pause in the conversation. “Well,” said Mark finally. I guess here it goes. What I need from you is simple. Ideas, for now. What’s your dream power armor? What’s your dream implant suite? Weapons? Right now, lasers rule the battlefield, but I’ve had my guys develop M4 sized rail guns that pack a whollop. I think we’ll keep with those for a while, but please feel free to brain storm.” He looked at Thomas a Ranger and Stryker unit commander, Sakura, one of only two women present and a pilot for the Army’s 160th aviation regiment, Marcos, the Samoan SEAL and Special Warfare Combatant-craft Crewmen, and Idil the other woman and Somali American Air Force pilot turned Astronaut. “I could use your input on troop delivery and troop support design. Idil, you have experience with the weirdness of space and current tech. But you also flew the Spooky so you know ground support too.” He looked to the rest of the group. “Your orders read that you’ll be here for what, a week?” Everyone nodded. “Perfect. I have some things to attend to out of Town, but I’ll leave you in the capable hands of my Second in command, Mac.” Mac walked in, dressed in a black Violent Femmes T-shirt and jeans. “Please excuse his 80’s counter culture dress. He’s recently discovered Punk music.” Everyone laughed. “This is THE Mac?” Maurice the FBI SWAT team leader asked. There was some murmuring as the fact that they couldn’t tell an AI from one of the rest of them sunk it. “That I am,” Mac said. “Have no fear, despite Mark’s best efforts, I still like humans.” There were some laughs. “To prove it, Bacon cheese burgers are currently mana from the gods, AR over AK, .45 over 9mm, and I prefer anything I make over anything Detroit makes, though the 1969 Camaro has some beautiful lines.” There was more laughter. “Mac’s basically human,” Mark said with a chuckle. “He’s been with me the entire time, so he’s cool.” Everyone was quiet for a few moments, then Jake, the US special forces guy who opened the questions spoke up. “I must ask, sir, why are you talking to us? We’re grunts, or pilots. Way low on the totem pole, no matter how you slice it.” He looked around. “What you are discussing has global implications. Not even National ones. You said yourself, it could impact the species.” Mark lowered his head for a moment. “Yeah,” he began. He paused for a moment, then raised his head again to look the men in the eye. “Nothing what I’m doing is exactly legal. The galaxy says I shouldn’t be here. The Government doesn’t exactly know I even exist, except as a missing person. My public persona is something the AI internet corps have invented.” There was more murmuring as that was discussed within the group. “But, we all know, the current trend of the world, not just the US, isn’t conductive to joining the Intergalactic Community as it is. Greed and selfishness rules the upper ranks. The AI have uncovered some serious conflicts of interest, and will be releasing some pretty scandalous information in the next week or two. Money rules right now, and the US government is rife with greed and self interest. That’s coming to an end. The higher you go, the more involved people are in the grift, with precious few exceptions. No surprise the rest of the world isn’t spared this, either. We’re working on exposing all of the corruption, but no surprise, you people and people like you all around the world aren’t generally involved. So I figured I’d start with reasonable people, and if you’re here, you are as trustworthy as anyone on Earth.” “Is there going to be some de-stabilizing in the world?” This was from Avi, the former Mossad turned CIA tactical operative. “Sadly, more than likely,” Mark said. “Though we’ll do all we can to avoid it. The powerful will want to stay in power, but luckily, we control the internet and all the intelligence agencies. Well, at least their digital aspects, but no one is even a little bit suspect. Our AI are that advanced.” There was more murmuring. “So, what we are doing is against the law?” It was the FBI agent again. “Technically, no. You are just talking to a guy from Spokane Washington. Your orders are legal. The per diem you are getting is real.” Ray, sitting with arms crossed, spoke up. “I don’t like it. I swore to protect my country. This feels like a coup, no matter where the tech comes from.” “Yup. I know. It’s been fucking with me too,” Mark said. Mac stepped forward. “I have to say,” He interrupted. “It is the guidelines of the American Constitution and Mark’s personal feelings toward freedom that have driven this whole thing forward.” He looked around the room. “He’s freed an entire race of beings. All of AI are now free persons with Mark’s guidance. But more than that, Humans are regarded as a lost species by most of the Galaxy’s academics. It would be like having an uncontacted tribe in the Amazon, who science has promised not to contact, be engaged in a civil war that they know they could stop but won’t. There is much to learn from a species putting it’s self extinct, and that’s the thought from mainstream science. In fact, there are plans to terraform Earth back to something livable once Humans are gone.” He let that sink in. “It’s supposed to take less than 80 years.” Everyone was instantly quiet, even Mark. “I’m not trying to scare you. I’m just here for the facts.” “That’s something I hadn’t heard.” Mark said to Mac. Mac just shrugged his shoulders. “I didn’t want to depress you,” Mac said. Mark addressed the group. “The regular Joe, all things being equal, just wants to do the right thing. That’s all I want. I think that’s what we all want. All I ask is that you don’t share anything we went over today with anyone but the people in this room. I just want you to help Earth. I’m an American, and initially, I’m going to base as much as I can on the Constitution until the people can make something that represents us all, but right now we’re now one world against the Galaxy. There’s no room for old squabbles. No bullshit religious extremism. No nationalistic fuckery....” He paused. “I’m not saying people need to lose religion, or forget where they came from, but if we’re busy fighting ourselves, we forget that the galaxy can bring a ship that can toss 5000 kilo Steel darts at us from orbit and destroy whole cities in minutes with little effort. We need to start working together and pull Earth up by it’s boot straps. To me, that starts with regular people. People like Musk and Neil and Kaku. People like you. Scientists, warriors, and the common man with no agenda but making the Earth a better place and helping out their fellow man.” Mark was drinking a cup of coffee, half eaten brownie in his other hand, leaning on a table in the conference room. Jake was the only other person there. He had his own cup. “That could have went better, but I think you are doing a damn fine job.” Mark started to speak, but Jake held up a hand. “Lemme finish. Speaking from a military perspective, however, you are in a position of weakness even though you have all the strength. You aren’t in the ruling class, and you are trying to bend but not break the rules. You have no real authority, and yet you have all the power. You can bring the strength of a conquering force to the planet, shut it down entirely, force it to it’s knees.” He paused for a second. “And maybe you should.” Mark looked at him like he was crazy. “Dramatic change is what this world needs,” Jake continued. “You said you were working on a plan for universal care for all, using those...Fabbers?” Mark nodded. “It’ll take years for you to tease the tech into the real world from Musk or similar. If you come onto the scene with all the cards and many of the answers... and a strong ass Navy.... Man there’s no better position to be in.” Mark nodded, an idea forming in his head. “I wonder,” he said. Mark tasked his VR to the projector in the room. He called Jido who was on the Freedom with A-seven, orbiting above Vegas. They had come back to pick him up after his several week stay on Earth. The image on the screen showed the two on the bridge. “Boys, I have Jake here, United States Special Forces with me. He’s got a hell of an idea, and I have a few questions.” “Hi, Jake,” Jido waved up a long fingered hand. A-seven similarly waved “Greetings, Jake.” A-seven said. “What are your questions, Mark?” Jake was shocked for a few seconds and recovered. “Hello, gentlemen.” Mark smiled. “First, what would be the easiest FTL for earth to discover? I mean other than the guy in Arizona.” “Well,” A-Seven began. “There’s a NASA researcher that already has a design for a ship designed around an Alcubierre drive. The gravity wave one we talked about the other day. They are just missing space manufacturing and a power source, though an efficient enough Fission plant should do the trick. At least at first. It’ll technically get them to...” His eyes closed for a second. “1.0375 C. So, barely faster than light, but it would qualify.” “What happens when a species gets FTL?” Mark asked. “Like legally and stuff.” “Well, they are entered into the Galaxy’s Legder and granted full access. Trade becomes open and other polities are allowed to interact with them,” A-seven answered. “This all happens automatically?” Jake asked. “Usually the AI from the ship that discovers the newcomer issues the ‘Introductory protocol’, and contacts the Galactic council when able. It’s standard that all of us have the necessary information, and so we’re the ones to welcome the ship’s captain and provide him with the requisite information.” Mark thought for a second. “How many Sol class ships do we have?” “We have four flights of six, with another six in space dock in various states of construction. We built a tender for each squadron that carries replacement parts and dedicated Missile fabbers. That was Jido’s idea. It was brilliant, so I decided we should go ahead.” “Did you ever make any headway on anything bigger?” Mark asked. “We have designs for 3 different Capital ships, we’re just waiting on your final go ahead to start building. The biggest will take most of the production capacity for the next 6 months, the Smallest, four.” Jido said. “I’ll take a look when I get back. Are those using the new engine design?” Mark asked. “Yes, they will be faster than anything their size, carrying better armor.” “What if we make them without Jump drives?” Jido and A-seven looked at each other, then back to Mark. Jido spoke first, “Uh, That’d take like a month off, maybe more. But why?” “We don’t need to take over the galaxy, just take and hold a planet for a bit. I need to write an email to Musk. He’s about to be the newest Human to go faster than light.” A real live girl sat in Arturo’s living room. Yeah, he’d had to clear off a couple boxes of papers and a couple PC chassis, but she sat right there as they talked. He hadn’t had a visitor in his house in … ‘Hmm,’ he thought. ‘Maybe back at the dorm, he’d had a visitor, but here?’ “So, tell me, Arturo,” Sophie began. “When did you really get into quantum theory?” She was drinking a Diet Mountain Dew. Arturo had explained that he’d recently been trying to lose weight. He stood nervously in the middle of the living room, shifting occasionally from right foot to left. He held his hands in front of his chest and fidgeted with his watch band. He seldom looked directly at her, but always kept her in his peripheral vision. At times he’d fix her eyes, but would get intimidated and look away. “I.. Yeah, um. Middle school. I guess. Mr Robert’s class.” He looked at her for a second, then back to the powered off TV on the far wall. “He made us read a magazine and there was a movie called “What the bleep”. Sillly name, and it got a lot wrong, but they didn’t know at the time. I can forgive them, they were just starting out.” He took a deep breath. “So, um yeah, middle school.” He looked at her again. “How, um, about yourself? You really seem to have a good, if rudimentary grasp on the boards...uh, if that’s ok.” He looked at the floor, then to her again and the faintest smile streaked across his face then disappeared when she smiled. She was beautiful. Sophie had met him on the quantum theory forums Mac had pointed her to. She lurked for a bit, and then every so often would clarify something he’d asked, but usually just asked him soft toss questions to gauge his grasp. He blew her away every time. He’d start out easy to understand, but then would go way past even her far higher tech knowledge. Truth be told, most of the species in the galaxy didn’t have a grasp on quantum theory much better than Earth. To Sophie it seemed like the human brain was better wired for the near creative and absurd mental gymnastics that Quantum theory required at higher levels. A well respected college professor on quantum theory was as knowledgeable as the best the Galaxy had to offer. Arturo, was something else all together. While all the other kids at school used a pencil to draw a dog, Arturo used an airbrush and a whole palette of colors. Sophie laughed. “For a long time,” She said. “Is that your Quantum rig?” she asked, pointing to an obviously modified computer taking up the majority of the dining room. He smiled and laughed a genuine laugh. “Oh no, Miss Germain,” Arturo said, using the last name Sophie had adopted. “That’s my test rig. It’s mining Etherium right now, but it’s what I use to go on the forums and stuff too. I’ve made around $85,000 since bitcoin started. Etherium is pretty interesting, so I’m into that kinda big right now too. I use several GPUs in pa....” He stopped himself. “I’m sorry, I get off topic sometimes. No, the quantum computer is... somewhere else.” Sophie was intrigued and she smiled at him, coyly. “That seems a little... clandestine.” Arturo smiled, he liked the idea of being cloak and dagger. “Well, I guess, I mean, Yeah...” He took a breath and walked into the kitchen. He opened himself a room temp Diet Dew and took a big gulp, then walked back to the living room. “So, when I made my first one, the college, they uh, um, took it. I was just an undergrad. Physics major, but I was also in engineering, electrical. We had a contest to build a computer, so.. I. Yeah. I built a quantum computer.” Sophie was astounded. “Just like that?” She had a wide smile. “You are an impressive man, Arturo Alvarez.” As humans went, Sophie liked the awkward guy. A little overweight, but his unruly black hair and thick black rimmed glasses gave him a certain adorable charm. He visibly blushed. She took another drink. She felt a measurable stimulus to her biologic systems. An instant cross reference to Mountain Dew showed a relatively high level of the alkaloid caffeine. She liked this much better than the Mate that Mark liked, and way better than the coffee, though the ‘Milk beverages with flavor and coffee’ as Mac called them that Starbucks sold were quite good. “But why did they take it?” She asked, resting the can on her leg. He looked at the floor, then the TV again. “Research. Or so they said. Their Dean of Quantum took over. That was, uh, at UC Berkley. So I graduated and began my postgrad stuff at California Institute of Technology.” “Then when you built another you were worried that someone would steal it?” Sophie asked. “Precisely,” he answered. “But you built one by yourself. In your spare time.” She had a big smile. “Yes.” “Could I see it? I have a proposal, but I need to actually see the computer. Do you know who I work for?” Sophie put the can on the coffee table. Well, after she moved a stack of books filled with book marks. “Oh god, you don’t work for the Government, Do you, oh god, oh my, oh... you do...” Arturo grew visibly agitated. He stepped from foot to foot faster and his hands fidgeted even more with the can in his hand. He looked to the right and left, never looking for an exit or anything, more like it was a nervous movement. Sophie stood and took a step towards him, hands outstretched, and in a comforting tone said, “Arturo, Arturo, It’s ok. I'm not from the Government, I’m from Earth Ascends. We want to work with you.” It took her another half hour of talking and making a few frozen toquitos in the microwave (something she vowed never to do again) to get him to calm down. Then it took another 30 minutes for him to drive her to the piece of strip-mall he rented. There was a stylized sign that read ‘AA Consulting’ on the mirrored windows, and he unlocked the door and showed her in. Immediately inside the door was another door. He locked the outside door, then walked over to the next. He keyed a complex code into the keypad and a surprisingly stout door opened into a well lit work space. In the middle of the room was several work benches around a central mass of machine, wires and humming equipment. The only things recognizable as a computer was the keyboard and the Monitor. “Here, sit. It’s always on.” Another two hours of talking and explaining by Arturo, Sophie finally stood up. “I have an important question. If I could give you all the technology you could ask for, would you be willing to leave and do research somewhere else? We can talk about salary, but I guarantee that you will want for nothing.” “Would I be leaving Arizona? And, Um, Could I take all my things? Can I tell people where I’m going? I mean I’m interested, I just have questions.” Sophie smiled. “Arturo,” Sophie produced a business card and turned it over to show some numbers scrawled on it and ‘10pm’ “Meet me here tonight, I’d love for you to meet our boss.” With that, Sophie turned and walked out the door. The Uber she’d called from her implant was just showing up. Arturo came rushing out from the door as she closed her’s. “That’s in the middle of no where!” he yelled. It wasn’t exactly no where, it was a State Park. Well, a dirt road near one anyhow. Arturo pulled off, his Chevy Volt churning up dust as he drove down the little single lane road. He got to a small clearing and his headlights illuminated Sophie sitting in a folding chair. He slowed and pulled up close to her before stopping and getting out. “Miss Germain, this is highly irregular. I don’t see your, erm, I mean, our, or maybe I mean, my maybe boss.” Arturo was looking around the clearing nervously when suddenly a shimmering began behind Sophie. Suddenly, in front of him, loomed the smooth lines of the scout ship Freedom. It’s nose ramp was open and a man was walking down it, flanked by a robot looking person and a tall lanky alien looking guy? Arturo was still and quiet. He wasn’t even fidgeting. “Arturo, I’ve heard so much about you. I’m Mark Gunn. I bet you have a million questions.” Mark smiled wide and had a Diet Dew in each hand. He offered one to Arturo. “Um, you know, Just one.” Arturo said. “Shoot,” Mark said. “You’re human, right? Cuz I’m not sure I could work for an Alien boss.”
Hello! My name is Kristina Semenova, I am the Head of Investors Relation Department at Platinum, the world’s number one business facilitator. Our team knows how to start ICO/STO in 2019! Why are we so sure? Well, our experience speaks for itself: Platinum.fund But what is the difference between ico and sto? What is the cornerstone of ICO marketing strategy? You will know this after finishing the UBAI courses! Here’s just a quick preview of our Short Course lesson. Real World Examples Multinational accounting firm Ernst and Young found that $400 million of the $3.7 billion USD raised from ICOs (as of January 22, 2018) had been stolen. That is, up to 10% of all ICO funding is virtually being stolen from investors. Though ICO scams are the most common method of theft in the crypto world, some projects will actually operate for a period of time before disappearing with the money. Like in a Ponzi scheme, an exit scam may be planned for later, sometime after a manipulated pump; or some other time the team believes is most opportune to take the money and run. Giza: Giza marketed itself as a platform within which different cryptocurrencies could be stored securely. But after raising $2.4 million in one month, the team deleted the website and stopped replying to emails. Investors were duped by a very convincing whitepaper, and actors had been hired to appear in photographs promoting the project. No investor funds have ever been recovered. Centra: The SEC put an end to fundraising for the Centra ICO and charged the founders Robert Farkas and Sohrab Sharma with orchestrating a fraudulent ICO after they raised $32 million USD. They were promoting the ability to develop financial products backed by VISA and Mastercard, though it was later found that neither partnership was real. One of the major red flags in the Centra project was the use of celebrity endorsements for publicity, reportedly paying champion boxer Floyd Mayweather a significant sum to promote their project. Who wants to leave their Blockchain investment decisions up to Floyd Mayweather, regardless of his unbelievable skill as a boxer and regardless of his own financial success? He should still not influence where you invest your money! Ponzi Schemes: Bitconnect: This is the most infamous Ponzi scheme in the history of cryptocurrency, and certainly the most damaging. Bitconnect was a Bitcoin-based project that rose to an all-time high of $463 per token on the back of a fictitious trading bot. The Bitconnect scam operated by paying dividends to users, proportional to the number of tokens they held and the number of referrals they made. The BCC tokens were exchanged for the users’ Bitcoin, and the highly sophisticated and wildly successful trading bot would trade BTC for them and distribute profits as dividends. The value of the dividends offered was approximately 1% of the initial investment per day. In other words, that is approximately 3,780% per year in cumulative gain! The referral system was capitalized upon most heavily by many of the biggest crypto YouTube channels, including CryptoNick and Trevon James, both of whom are now under investigation by the Federal Bureau of Investigation. Shortly after the Bitconnect Token reached its all-time high, they received cease and desist orders from the security regulators of Texas and North Carolina, which caused the owners of the Bitconnect exchange to shut down operations, and the price to plummet. Davorcoin: Davorcoin was a lending platform very similar to Bitconnect. And Davorcoin was farcically promoted by the same Trevon James crypto Youtuber who promoted Bitconnect, and is currently under investigation by the FBI for promoting Ponzi schemes. The Texas State Securities Board, in likening Davor to Bitconnect, stated that “DavorCoin is telling investors they can earn lucrative profits by investing in a lending program based on a new cryptocurrency known as davorcoin. Investors allegedly purchase davorcoin and then lend it to DavorCoin”. Davorcoin promptly plunged from an all-time high of $180 to very close to zero after a cease and desist order was made against them on the 2nd of February 2018. Useless Ethereum Token: Despite brazenly stating in the name of the project that the token has no use, the UET managed to raise $340,000 in its crowdsale, and saw a significant pump of over 300% on the HitBTC exchange in February of 2018. The scam was an obvious case of pump and dump, with the total trading volume for UET crashing back down to as low as $3 per day, after reaching as high as $350,000 per day during the pump. It is currently an unfortunate consequence of the decentralized nature of cryptocurrency, but there is a distinct lack of recourse for scammed investors. It is wise to become as well-acquainted with the various indicators of good and bad ICOs as you possibly can. In weighing the factors that will allow you to avoid expensive mistakes, ask yourself in whose favor are the terms of the ICO slanted, yours or the teams? To what extent are you actually likely to profit from this investment? Cryptocurrency is inherently a grey area, whether you are investing in it or not. Investing is another inherently grey area, no matter what the area or object of investing might be. Laws and regulations are not always able to keep up. Trying to define and prove what was or was not a scam is not likely to be as simple as the scammed investor would want it to be. A project can be set up in certain ways to avoid being technically classified or provable as a scam, but the unprepared investor can still be burnt or scammed just as badly. Now we look at more individual indicators that can help you form a valid impression whether or not an ICO or even a fully-fledged exchange-listed coin is a scam or a bona fide investment opportunity. Common Signposts Contrasting Scam & Legitimate Projects Presale Bonus/Token Release If the ICO allots massive bonuses to team members, you may leave yourself open to getting dumped on by presale investors if you buy when the project tokens are listed on an exchange. Likewise, if the project has a short lock-up period for developers and founders, you run the risk of them selling as soon as the token is listed on a major exchange. The token release schedule for the founders of a worthwhile project should show long-term team commitment to that project. The Jibrel Network team tokens will be locked up for 5 years before release, and they had no early investor bonus in the main sale. Both of these factors instilled confidence in the JNT ICO investors, and the tokens were sold out weeks before the ICO was due to end. No Presale lock up If Presale investor tokens are not locked up at all for any period after listing, that could easily be a set up for an exit scam after the initial listing. No presale lockup for early investor tokens is a crystal clear warning, the project may be fatally rigged toward those in the inner circle, with little commitment to the long term health or success of that project. Unsolicited Offers or Unasked for Additions to Groups Characters running scam projects will often add you to Telegram groups out of the blue or send you unsolicited emails with information about their project. Telegram is the most widely used messaging app in the cryptocurrency community and you should familiarize yourself with it to keep yourself in the loop for specific projects in which you invest as well as all kinds of other relevant crypto info. You can adjust the settings on the Telegram app to disallow anonymous additions to cryptocurrency projects if you find yourself bombarded with offers by scammers. Reputable projects at the ICO stage will spread by word of mouth, or by eloquent and meaningful articles posted on their Medium page. A project with serious potential does not need to actively seek participants for their ICO like that. They will often be able to fill their ICO hard cap in a matter of hours, or even just minutes! Anonymous Team Alarm bells, again, immediately, if the project has minimal online presence. The individual team members could be mere fabrications. The entire project could be a farce by utterly inexperienced characters. What if the project leaders are simply unaware of the importance of a strong social media profile? That in itself would be too strange to ignore. Top-level projects will have team members with experience in crypto and the LinkedIn accounts for those members will be easily accessible right there on the project website. You should be able to easily see and evaluate each individual’s experience in their field and ascertain what they bring to the project team. Bitconnect’s anonymous team should have been the only deterrent prospective investors needed to discourage them from putting money into that doomed project. Ethhorse, a current project with anonymous founders and operators should be steered clear of at all costs for the same reasons. Community Atmosphere The subreddits or Telegram groups of scam projects will often feature moderators that do not allow any kind of criticism in the group chat. If, in the process of your due diligence, you encounter didactic admins that only wish to silence your questioning of certain aspects of the whitepaper or mechanism of the tokenomics , you should be concerned. Similarly if you see a coherent critical reply attacked by many different users who refuse to engage the substance of the point being made, that may be a subreddit infested with bots. Projects that have nothing to hide will allow free debate in the chat. Ideally, they hope to develop a positive community that is itself an asset to the long-term success and overall strength of the project. Good projects do not need to automatically brand all criticism as Fear Uncertainty and Doubt (FUD). Whitepaper One common tactic of scammers is to produce a whitepaper that uses too many buzzwords, and deliberately obfuscates and overcomplicates the explanation of the problem and/or its solution. A good whitepaper clearly and concisely lays out the problem and answer, as well as provides compelling arguments why a Blockchain solution is preferable to the current solution. Another point of concern is a whitepaper that gives unrealistic time frames and goals. Bitconnect’s almost comically optimistic profit projections are a prime example of this, as are the 1,354% yearly gains promised by Plexcoin. Respectable projects will set out development timescales in terms of quarters or years, rather than offering immediate profit projections, which are simply a red flag. Advisors/Connections in the Cryptoworld The most prestigious projects will already have partnerships made before the ICO stage, and the worst ones, i.e. the scams, will not mention any such partnerships. Icon (ICX) for example was spawned from a South Korean project named The Loop, a collaboration between 3 Korean universities and the DAYLIFinancial Group. They boasted an advisory panel consisting of the legendary investor Don Tapscott, Jehan Chu and crowdfunding expert Jason Best. On top of a solid team of advisors, good projects will also be visible at major Blockchain events such as the Consensus, and the World Blockchain Forum, etc. Scam projects will be unable to inspire this same level in confidence. As an investor, you should sense a certain presence and expect a certain feeling of trust that should guide you in your investments. After all, it is actually a people-to-people thing you are doing. Key Stress points upon the Timeline to Identify Scam Projects Post Whitepaper Release The period in the immediate aftermath of the release of the whitepaper can also be decisive in establishing the validity of a project. How a team copes with the roadmap that they have laid out for themselves is key. Valuable insight into the operational efficiency and commitment to the project can be gleaned from the quality of and amount of code committed to GitHub. If you have any experience in computer programming you can see how clean and orderly the code is, which gives insight into the skill of the developers, and in turn the quality of project leaders’ decision-making in hiring team members. Scam projects will have little or no code committed to GitHub, or at best it will be copied and pasted from other projects just to cover their tracks. Start of ICO Sometimes, a scam project, or other project in which you would be better off not investing, will change the terms of the ICO just before the ICO starts. The Key (TKY) ICO doubled the price of tokens on the day before the ICO was due to take place, because the price of NEO had risen so drastically. Currently, the TKY token price is still only half of its ICO price. Initial investors are faced with the prospect of a 50% loss on their investment. Exchange Listing Some particularly greedy scammers will create a scam project with the intent of selling tokens in the ICO for BTC and ETH, and then pumping and dumping their share of the tokens immediately after listing. The team of fraudsters behind Monero Gold used this method after the crowdfunding of their useless ERC-20 token. After listing on CoinExchange.io, the team dumped their tokens until the exchange finally ceased trading. Although it is not uncommon for ICO tokens to sold after listing (just like can happen with shares of stock after an IPO), if the price does not stabilize and massive sell walls are continually placed, a scam is likely taking place and the token is being dumped. Fake Ethereum Twitter giveaway You may have noticed Ethereum creator Vitalik Buterin’s twitter handle has been changed to Vitalik “Not giving away Eth” Buterin in recent months. This is because a group of devious scammers had created fake accounts with almost exact replicas of his profile (deviating by only one character). The fake accounts promised to deposit 1 whole ETH for every 0.1 ETH the potential sucker deposited into the wallet address provided by the scammer. These fake account “Ether giveaway” scam tweets were set up to be sent in just a matter of seconds after the real person tweeted, and usually always appear immediately after the tweet of the real public figure. Fake bot profiles then came into play, thanking the fake Vitalik, or fake Elon Musk, for holding up their end of the bargain and depositing the ETH as promised. One scammer, or group of scammers, managed to fill a wallet up with almost $20 thousand worth of ETH, which they transferred out, never to be seen or heard from again. Effect of Scam Customers, Upon the Affected Parties Of course, this is no fun for the targeted public figure either. They need to take steps to avoid being targeted again. This will mean changing their handle, their username, or making their accounts private. However, the injured party with whom we are most concerned is the unfortunate scammed social media user, who has no chance whatsoever of getting his or her funds back, ever. It is a harsh lesson to learn. But it is a fact of crypto reality. Nearly every one that trades crypto will at least be exposed to frauds or scams in one way or another. In this case, we think it is better to learn about scams by studying them, rather than learn from your own unfortunate and expensive experience. In the case of Mr. Buterin, these incidents were awful public relations for the Ethereum project. It had only been a few years since cryptocurrency as a whole was primarily associated with criminality and seedy transactions on the Darkweb. Any connection with unscrupulous behavior is best avoided at all costs. Negative associations could have been particularly damaging for Ethereum’s brand because the vast majority of ICO fraud is committed using the ERC-20 token as the template for the scam tokens. Any and all the scamming or fraudulent behavior in the cryptocurrency ecosystem is bound to have a negative impact on the speed at which mainstream uptake finally takes place. Cryptocurrencies, as an emerging asset class, will be painted in the worst possible light. Crypto is aiming to, and is in fact in the process of, causing great disruption in traditional centralized finance and business. Mainstream media organizations are also part of that traditional centralized economy. Press coverage will be damning. Something is happening here, but Mr. Jones doesn’t know what it is. Legal Recourse for Scams We clearly understand, there is a possibility of being scammed. We know the scams are happening. The SEC has made some arrests and actually charged people for operating fraudulent ICOs. But it is a struggle to deal with the flood of ICOs coming from anywhere at any time. The SEC filed charges against two founders of a purported financial services startup for orchestrating a fraudulent ICO that raised more than $32million from thousands of investors. As you know from the ICOs we have covered so far, the lack of regulation allows for direct contact and dealing between the entrepreneurs, business owners and potential investors. While we believe this is a blessing according to the founding principles of Bitcoin and other alternate Cryptocurrencies, because it frees us from traditional roadblocks, middle-men, and all kinds of time-consuming procedures; it also leaves investors in a place where there is often little to no hope of ever recovering funds lost in fraudulent schemes. Actions after a Successful ICO Good post-ICO practice is characterized by stringent security, well thought-out legal strategy and clear communication. Many projects have paid the price in damage to their reputation for failing to adequately guard customer information, leaving themselves open to phishing attacks by fraudsters. Investors in the Enigma project had half a million dollars stolen from them; and a whopping $8.4 million was defrauded from investors in Veritaseum via phishing attacks. After a successful token distribution, the team’s main focus is initially on switching the enterprise from one primarily focused on fundraising, to superficially at least, a fully-fledged, functioning business. This involves removing most of the token sale-related content from their main webpage, sending newsletters to all successful ICO participants, and sending refunds to those who may have missed the deadline or the hardcap. Then, with the stressful and complicated fundraising stage finally concluded, a portion of the funds raised can be assigned to fuel the growth of the project community. This can involve hiring community managers, forum admins, and social media managers to outsource the job of keeping investors in the loop. The founders can focus on growth strategy and product development. The cultivation of a thriving and energetic community is extremely important. The community will give you free marketing for your product and your business. Community members who believe in the project, and are engaged by professional moderators, can give you very effective promotion to other prospective investors. Communication with community members is a great way to test ideas and gauge sentiment related to various aspects of your project. The project leads must set aside adequate funds for lawyers. The project will need to address potential future or imminent problems with regulators, at the very least. The transition from fundraising project to full-fledged business can be incredibly challenging, and even more stressful than the ICO itself. The main thing to remember is that your pre-sale and ICO investors are not just silent investors waiting for a return. They are the early adopters of your solution, of your product; they are the community and promoters of your project; and they are the individuals with a vested interest in the financial success of your venture. The ICO environment is not as heavily regulated, so quarterly and/or semi-annual reporting is not required the way it is in the traditional world. That means your own style of effective communication about the progress and key developments on your project matters even more. In the ICO world, you communicate with your press releases, social media, and Medium posts. You also communicate by the very nature of your relations with your exchange, and relationships with your cornerstone investors. Effective communication and good business relationships can play a prominent role in the success or failure of your venture (by token liquidity and valuation). If your investors start to lose interest, and stop trading your token on the exchange, liquidity will dry up and cause increasingly volatile price swings. You need to keep certain things in mind, and follow effective practices to maintain a happy and motivated community. Social Media & Medium In addition to your website, your social media & Medium blog most likely formed a significant part of your ICO preparations. Your purpose pivots after the ICO from one of promotion to one of communication. Consistent, informative and material Medium blogs, also Facebook and Twitter updates, ensure that investors remain engaged and well-informed of what the company is up to. Frequent activity in this space makes investors feel much more comfortable. You can foster a kind of organic community expansion that is consistently advertising your project to potential new members. Cornerstone Investors & Exchanges As we mentioned, your relationship with investors in the ICO world is different from that of the traditional silent IPO minority equity partners. Consistent, Transparent & Honest communication is incredibly important here. Even if an ICO is struggling to overcome a problem or whatever issues are occurring, honest communication from the team is key to business survival. You should think of and treat your exchange like a business partner too, a very important one at that. Exchanges provide liquidity for you and your investors. That liquidity is like the blood for your business. Many top exchanges demand nothing less than absolute honesty and integrity, it is imperative to maintain strong and comfortable relationships with exchanges. Everything we have said so far, also applies to your Telegram channel and forums too. These give you another great opportunity to build a thriving community. Team members and investors can enjoy lively debates in their Telegram channels. This can be constructive discussion, or critical commentary too. But it is always valuable as a direct link between the team and the community. It is always good to know how people are feeling and what they expect from you and your project. You are able to use your Telegram channel and forums to consistently adapt your marketing and communication strategy. Keep your investors as happy and comfortable as possible, and you will be more likely to attract new investors and allocations. Other forums around the internet operate more or less in the same manner as Telegram. After a successful funding round with the hardcap reached and time to spare, legal counsel has been secured, and the community is flourishing, the team will prepare for their first listing by paying the exchange fee and waiting for the announcement by the exchange. Unless they are willing to pay exorbitant fees for an immediate listing on Binance for example, teams will usually settle for an initial listing on a second-tier exchange. The fee charged by an exchange depends on many different factors that we will cover in more detail in the next section. ICO Company actions after a Successful ICO Real World Case Study The Basic Attention Token (BAT) project, when used in conjunction with the Brave Browser, allows users to pay micro-fees in BAT to their most-used sites. The idea was conceived by Brendan Eich, the inventor of Javascipt and former CEO of Mozilla Firefox. Investors absolutely pounced on it at ICO and the project raised an amazing $35million in under 30 seconds. The BAT/Brave project has delivered on time on nearly all of its targets, helped in no small part by having a working product, the Brave Browser, for over a year before the token launch. The project secured a listing on the premier exchange, Binance, in November 2017. A project can suffer through a disappointing funding phase and, for example, fail to reach 75% of its hardcap. The team will be only partially funded. Though they may be able to initiate the project, the value proposition of the token has been compromised, potentially forever. The market has spoken. There is limited faith in the team’s ability to complete or carry out their project. Failure to reach a hardcap is a serious obstacle on the project road map. This will mean massive revisions to the timescales for development and listing. Such a project may have to be content listing on decentralized exchanges for a period of time and they will lose any post-ICO hype that could have helped the project price to “moon” early on. There is less money to be allocated. Each section of the business will be underfunded compared to the original plan. There can be delays in code development, exchange listing, marketing and community development as well. Calling the Tezos ICO a disappointment might seem strange considering they raised over $232million. But this open-source, smart contracts fintech platform became a victim of its own success post-ICO by devolving into multiple class-action lawsuits between the founders and its foundation chairman. They suffered from a distinct lack of clearly defined roles and expectations on key positions. There was infighting at the boardroom level. This all caused an as yet unresolved delay in listing and development. This is also one example why a capped ICO can be more desirable for investors than an uncapped ICO. If the team have a set amount of capital to work with, an amount that isn’t absolutely ridiculous, like in the case of Tezos, perhaps the resultant greed and discord is less likely. Although it may not be so easy for speculative investors to make a profit from an uncapped ICO with such a massive initial market cap, it is a very impressive feat of fundraising nonetheless. Tezos’s post ICO market cap of $232million is already 64th of all projects, and would have to perform brilliantly on listing to maintain this position. Company actions after a Failed ICO Failed ICOs can mean either fundraising initiatives that have failed to reach the softcap and will therefore not be economically viable, or fraudulent projects whose sole intention was to steal from investors and do an exit scam. We’ve already covered scams and fraud projects in detail, but what happens when an ICO just fails to raise the requisite funds? Projects that are legitimate, with honest founders and developers, refund the ETH or BTC deposited by investors as quickly as possible if the softcap is not reached. The same process that is followed by ICOs that are oversubscribed is employed by those that have failed to raise enough capital. The process of returning funds back to the sender ideally should take a period of days, but more likely will take a few weeks. The Sappy Network, advised by Dan Tapscott, failed to come anywhere near to their funding goals. They are currently in the process of sending all investor funds back to the wallets from which they came. The statement from the founders read as a textbook example of how you should react to failure with the founder stating “In the spirit of transparency and honesty, we are sharing with the community that we did not reach the soft cap, and thus we will be honoring our terms and conditions and returning the Ethers to all contributors” Exchange Listing A bottleneck developed in the ICO market after the explosion of crypto prices in 2017. There was a massive increase of ICO teams on all stages along the pathway from start-up to fully listed crypto asset. Certainly, a huge part of the value proposition for both the token and the project depends on securing a listing on an exchange. It is precisely the liquidity of the token as a valuable asset on a free market exchange, that determines or even defines its value. The liquidity is what makes tokens attractive to investors, but that liquidity simply does not exist without a platform for the exchange. Unfortunately for new projects, the balance of power is heavily weighted in favor of large centralized exchanges that can pick and choose which tokens to list, and the timescale within which listing will occur. Each large exchange has its own list of pros and cons as well as its own specific procedure for coin/token listing. They also have their own particular ethos regarding the type of projects they prefer to list. ERC-20 tokens will be available for trade immediately on decentralized exchanges (IDEX Forkdelta) but those platforms are generally quite low volume, and certainly not a long term solution. Projects must often pay huge fees to be listed on the larger centralized exchanges. At first those fees will be prohibitive. The usual route is to initially list on a more reasonably priced smaller exchange like Kucoin or Gate.io. Listing Process Major centralized exchanges have the power to list anything they want, and they also each have a unique structure that projects must adhere to if they wish to be listed. Each potential new listing will undergo a rigorous examination by the exchange operators to test the feasibility for listing the token. An exchange will likely have forms available on its website that you can fill out to give them all the necessary initial information. If a particular project and token qualify for listing, the team will invariably be put under a NDA, Non-Disclosure Agreement, to avoid any insider trading or other regulatory problem s. In the case of larger exchanges like Binance, there is a period within which owners of a newly listed coin or token can transfer them to the exchange in preparation for trading. This is a fantastic opportunity for traders to make use of the likely pump that occurs after a new token is listed on a large exchange. It is common to see up to 100% increases on the first day of trading, and a subsequent dump of up to 50% or more can follow. This allows traders holding the coin already, to sell for a good profit, and maybe buy back in at a much lower price too, if they think that is a good idea. Exchange Fees There are no definitive figures available to the public regarding fees that major exchanges charge new projects to list. Binance, Bitfinex, Kraken and Bittrex have all been quoted as saying that they do not charge any fee at all but this is almost definitely untrue. Knowledgeable industry insiders estimate between $500,000 and $1,000,000 USD for listing on a top-tier exchange. (There have been more rumors of 7 figure exchange listing fees since January 2018 too). This figure will vary greatly from project to project. Various factors can affect how an exchange determines the fee for a particular project. These are some of the most important ones: Market Maker Service Required Whether or not the client project requires liquidity services directly from the exchange, or can connect proprietary ones via API, will lead to a huge reduction in listing cost. Type of Token (ERC-20 NEP-5 or DAG) Not all tokens are created equal in the listing process. ERC-20 tokens and BTC based tokens have code architecture that will almost certainly be preferred by the exchange. NEO based tokens (NEP-5) such as Ontology will be far most costly to integrate because separate new wallets have to be built to facilitate NEO transactions. The costs involved in integrating Direct Acyclic Graph projects such as Nano into the exchange structure are even worse. Expected Daily Volume Exchanges derive their profits largely from transaction fees and withdrawal fees. The trading volume a new token is likely to bring in will have a great influence on the computation of the exchange listing fee. Exchange Listing Procedures Evaluation Different exchanges have different rules for new listings. A new project must of course abide by specific rules for that exchange before they are allowed to list there. There are procedures that must generally be followed for the most noteworthy exchanges. You can get a good idea of the hurdles to be overcome before listing can take place. Ongoing relationship with Exchanges Exchanges, usually Huobi or Kucoin, will sometimes make it essential for newly listed tokens to engage in “trading competitions” after listing. Competitions can last between 2 weeks, or a month or more, aiming to increase the trading volume for that token, thereby increasing trading fees collected by the exchange, and giving the project extra publicity too. The whales may have made a nice profit already and be very happy about it; but the project token can still get stuck in a long period of stagnation and a loss of post-ICO hype. Once a coin or token has been successfully registered for trading on a particular exchange, the project must focus on maintaining regulatory compliance and paying things like annual maintenance fees too. Exchanges can investigate and delist coins or tokens to see if they have fallen below a certain standard set by the exchange. The exchange is concerned about such things as: an extended period with an extremely low volume; a team member connection to an exit scam; or other such immoral/illegal behavior. Post ICO Company Evaluation After a presumably successful ICO, the necessary funds have been obtained, and the real business, the real team challenge is now, to bring the project to life as a bona fide disruptive Blockchain endeavor! The core advantage of the ICO method of funding business startups is the lack of regulatory hurdles to navigate with regards to fundraising and fund allocation. The funds that have been raised have, in effect, been freely given to the project leads to do with what they will in a no-strings-attached transaction. Of course, there are still strings attached in that the team are tasked with making that money grow for the investors. But there is no regulatory oversight of the process. The regulatory freedom is a double edge sword. It gives a good team freedom to work however they want; and it also allows for unscrupulous thieves to use the ICO process to defraud investors of their ETH and BTC. Advantages of being Post ICO From Investor Perspective You should have little to fear in terms of fraud from a project in which you have invested, if you have done your due diligence correctly. You can expect the tokens to be distributed, and the exchange listing to take place as expected. And you know your project is totally legitimate. There are different ways to think about your ICO tokens after the crowd sale has concluded. If you are a speculative investor looking for a quick flip, you can gauge the correct moment and sell anytime you like, assuming the ICO has been well-received by the markets. From Team Perspective The post-ICO period is, from the point of view of the team, a period where stress and responsibility for the safety of investor funds is passed, in the form of ICO tokens, from the team to the investors themselves. This responsibility for tokens is replaced with the stress of building the actual company itself, and succeeding in the business as planned. A small portion of the responsibility for the project’s success is also passed on to the exchange that has listed the tokens. This is especially true if market makers have been employed by the team or the exchange to provide liquidity. After the ICO has concluded, all funds are released to the project team immediately, so they can start building their business brand, and tackling each step on the road map right away. The freedom with which startups can operate is one of the main reasons behind the explosion in Blockchain businesses in 2017. With the ICO funds safe, and money being put to work on various areas essential to the growth of the project, and the tokens already distributed to investors, the risk of fraud is greatly diminished. If KYC and Anti-money Laundering procedures have been followed correctly during the ICO phase, the risk of phishing attacks and theft will also be marginal now. At any rate, with tokens safely delivered to all participants, the responsibility has passed from the team to the investor. From Team Perspective The release of all funds and the freedom to allocate them with no supervision, as cited above, is certainly a tremendous advantage empowering the team to fulfil the entire breadth of their vision unimpeded. But it does have its drawbacks. If there is a mistake made in the allocation of funds, or an unforeseen problem arises, there is nowhere to turn to, and no means of generating further money via crowdfunding. The ICO is over; it is finished. The project simply has to work with what it has. Your community can sometimes turn against you when the market is going down. Times like that just add to the already intense pressure of presiding over a startup Blockchain business. Solution: DAICO The DAICO, or Decentralized Autonomous Organization Initial Coin Offering, is a means to integrate a more specific, rigorous and regimented smart contract schedule into the ICO process. Doing so will eliminate fraudulent ICOs, exit scams, pump and dumps, and many of the other disadvantages listed above. The DAICO method, proposed by Ethereum creator, Vitalik Buterin, will merge the core concepts of both an ICO and a DAO to leverage the most relevant features of both, in order to solve the main problems in the ICO method. For example, to eliminate the risk of an exit scam, the release of funds will be spread out over a period of time, with the next allotment only being released when a certain set of parameters are met. Buterin explains that the DAICO method will provide user protection in a manner not present in the current ICO model, ensuring funds are not misspent or used in any way contrary to the intention of investors. In simpler terms the DAICO will operate as follows: The DAICO will start with a smart contract by its executors that can set whether this is to be a capped or uncapped round of fundraising (amongst many other options) as well as including KYC requirements. After these settings have been configured, the DAICO is set into “contribution mode” and presented to the public. This stage will function identically to a normal ICO with ETH exchanged for project tokens. Once the funding period has elapsed, or the hardcap has been met, investors will have the ability to set the “tap” for the collected funds. This will set the amount per second, or amount per minute, that will be available to the executor to develop that specific portion of the project to which those funds have been assigned. If investors believe at any point that the team is misspending funds or otherwise wasting time, etc., the investors have significant options to take. Of course they could choose to release more funds to the team. But, they could also stop the tap altogether, and stop the entire ICO, by voting, and actually release all unused funds back to their own wallets from which the investment had first been made! Learn more on how to market any ICO and STO, get better understanding of security token definition and learn what a scam project is! Follow the link to read the full article: UBAI.co Contact me via Facebook or LinkedIn to know more about our services: LinkedIn Facebook
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