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THREEFOLD LAYS THE FOUNDATION FOR A TRUE PEER-TO-PEER INTERNET AND FORMALLY ANNOUNCES ITS TOKEN DISTRIBUTION EVENT

In 2016, ThreeFold identified the need for a new, upgraded, and more-secure internet – a peer-to-peer internet that empowers equality (access), autonomy to its users, and sustainability. Today, inde

The post THREEFOLD LAYS THE FOUNDATION FOR A TRUE PEER-TO-PEER INTERNET AND FORMALLY ANNOUNCES ITS TOKEN DISTRIBUTION EVENT appeared first on AMBCrypto.

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In 2016, ThreeFold identified the need for a new, upgraded, and more-secure internet – a peer-to-peer internet that empowers equality (access), autonomy to its users, and sustainability. Today, independent ThreeFold Farmers have collectively built the largest distributed peer-to-peer grid of internet capacity in the world, live with more than 40,000,000 GB of capacity and 15,000 CPU cores, and stretching across more than 20 countries.

The technology for this new internet has been created by ThreeFold Tech, who works with its partner Hewlett Packard Enterprise to provide ThreeFold Farmers with high-quality hardware.

An Alliance to Build a True Peer-to-Peer Internet

ThreeFold comes alive with a collaborative ecosystem of partners and projects called the Conscious Internet Alliance, focused on creating a more human and planet centric world. Among them:

  • The Solidaridad Network, which aims to empower more fair and sustainable supply chains
  • 3Bot, your digital twin, a gateway to a peer-to-peer world
  • SEEDS, a regenerative financial system for a thriving global society
  • Take Action Global, creating opportunities for students to take action on social good causes
  • Artheon VR Museum, a free educational platform offering immersive cultural experiences
  • A peer-to-peer file manager, virtual browser, and more

Together, the alliance represents a group of projects that believe in the need for a new Internet that does good for the world. ThreeFold welcomes new partners who share the same belief and are ready to act.

The Token of the New Internet

The ThreeFold Grid is powered by the ThreeFold Token (TFT), which is now publicly available on the Stellar Network and will be listed on Liquid Exchange and BTC-Alpha Exchange towards the end of May. Proceeds from the token sale will be used to support projects focused on bringing experiences to the ThreeFold Grid, including some mentioned above.

The TFT is a decentralized digital currency that represents a unit of reservation of capacity (compute or storage) on the ThreeFold Grid, the largest peer-to-peer internet grid on earth.

It is a fully community-mined (farmed) token; there has never been an initial coin offering of any kind. TFTs are only created when physical hardware is connected to the ThreeFold Grid and can be exchanged for the utilization of grid capacity at any point. The token model incentivizes the further expansion of the ThreeFold Grid towards developing regions, especially Africa and South America. Additionally, part of the transaction goes to the Foundation to fund projects that are believed to bring a positive human or planet impact.

ThreeFold, along with its collective ecosystem of partners, believes that equality, autonomy, and sustainability are key pillars needed to achieve peace and fulfillment of humankind’s potential. Together, they aim to join forces to create and share better technological and non-technological solutions with the world.

ThreeFold is building a peer-to-peer internet that empowers equality, autonomy, and sustainability, and is supported by the ThreeFold Foundation. Its technology has been developed by ThreeFold Tech in collaboration with Hewlett Packard Enterprise, Kleos, and Flowgen as its technology partners. The team formed around co-founder and serial entrepreneur Kristof de Spiegeleer has over 15 years of experience in cloud computing and a number of exits. ThreeFold is a planet-first project, believing that building technology and doing good for the world can go hand in hand.

If you would like more information about the ThreeFold, please contact the team here.

Disclaimer: This a paid post, and should not be treated as news/advice.

Source: https://ambcrypto.com/threefold-lays-the-foundation-for-a-true-peer-to-peer-internet-formally-announces-its-token-distribution-event

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BOJ Official: Japan’s Central Bank Can’t Launch A CBDC Without Public Support

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More than a week ago, Japan’s central bank announced that it would begin testing its digital currency next year. This is coming a few months after the bank formed a new research team to accelerate its research on the feasibility of a digital currency in the country.

BOJ Needs Public Support

More reports surfaced that Japan has no immediate plans to launch a digital currency. However, a senior BOJ official in charge of looking into the possibility of launching a CBDC made a statement on the matter, Bloomberg reported.

According to  Kazushige Kamiyama, head of the BOJ’s payment system department, the central bank has not decided whether or not to launch a digital yen. But he noted that they must first hear from Japan’s citizens and get their support before the BOJ can develop a CBDC.

“At the end of the day there’s no way we can proceed without gaining sufficient understanding from the Japanese public,” he said.

Central Banks Afraid of Bitcoin

Kamiyama further noted that if the BOJ finally decides to issue a CBDC in the future, the bank would need to ensure that the digital yen coexists with cash and other forms of payments to protect the existing monetary policy.

This corresponds with the recent report published by the Bank of International Settlements (BIS) in collaboration with seven other central banks.

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As reported, central banks are afraid of a digital currency that would disrupt existing financial and monetary policies. Their major concern for launching a digital currency is because they dread the possible massive adoption of non-government-controlled currencies like Bitcoin and Facebook’s proposed Libra.

China Leading The Way

In the end, Kamiyama believes that the BOJ needs to deepen its research and move quickly like China’s central bank in issuing a digital currency.

“It’s not desirable if what China is doing becomes impossible to understand for us. We must diligently study,” he said.

The People’s Bank of China is already testing its digital currency on a small scale and even distributed $1.5 million worth of the digital yuan via airdrop to the Japanese public last week.

Meanwhile, in the United States, the Fed Chairman Jerome Powell said during a panel hosted by the International Monetary Fund (IMF) on Monday that it is more important for the US to focus on getting it right with the CBDC than being the first bank to issue one.

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Source: https://cryptopotato.com/japans-central-bank-cant-launch-a-digital-currency-without-public-support/

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Bull or bear? Pros don’t care! Here’s 3 strategies every trader should know

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Those new to investing might think that professional traders spend the majority of their time staring at screens day and night in order to analyze the markets and pick the best trades but this could not be farther away from the truth.

Having a good eye isn’t what differentiates top traders from average ones, it’s the application of tried and tested strategies that give pro traders the ability to stay net positive over long periods of time. Today we will discuss how the futures carry trade, funding rate, and use of trailing stops are used by top traders.

Each of these simple strategies do not involve proprietary trading bots or a substantial margin deposit, meaning an investor does not need a massive trading balance to generate profits.

Non-directional strategies

The crypto markets are known for their whipsaw price action which involves many assets rising or falling by double to triple digits within a 1 hour to 24 hour period.

Investors are drawn to the possibility of capturing stellar returns so it might sound crazy to suggest seeking just a 2% monthly gain on cryptocurrencies.

Why would an investor engage in such a ‘low yield’ strategy? The answer is compound interest. If a trader can achieve 2% per month, their yearly gain equals 27%.

Few traders would be able to match this return consistently by trying to guess market tops and bottoms. Thus, having more reliable gains relieves one from the stress of potential losses and the almost impossible task of trying to time the market.

One great strategy called the carry trade consists of buying a cryptocurrency on traditional markets and selling its fixed-month calendar futures.

This rate can be measured by analyzing the basis indicator, a metric also referred to as the futures markets annualized premium.

ETH futures contracts basis. Source: Skew

This is not a permanent trade as the basis indicator oscillates depending on how bullish investors are. Usually, there is a stronger opportunity in altcoins as there is less competition for those.

Viewing the chart above, take notice of how Ether’s (ETH) basis touched the 20% annualized level in mid-August. But, there’s a catch.

The devil always lies in the details, and this is one of those cases. This trade will only work if the cryptocurrency deposited as margin is the same one being shorted via futures. Some derivatives exchanges will only let you deposit Bitcoin (BTC) or Tether (USDT) as collateral.

One important thing investors must remember is that unlike perpetual futures (inverse swaps), fixed-calendar futures contracts have a set expiry date. Hence, one needs to sell the spot position at the moment of futures contract liquidation.

Trade the funding rate

Other non-directional trades include options strategies which usually involve multiple expiries and futures contracts.

One example, which is less risky is to exploit and trade the funding rate. Perpetual contracts (inverse swaps) will charge either longs or shorts, depending on the leverage imbalance. Those exchanges inform an estimate for the next funding window, usually every 8 hours.

When this rate goes up, professional traders will short futures contracts and simultaneously buy it on spot exchanges. Thus, their risk is fully hedged, collecting the funding rate and reverting the trade right afterward.

Automated trading equals success

Sometimes, in the market there are not many risk averse trading strategies available. In situations like these, even professional traders might consider taking a directional risk. What sets them apart from novice traders is the use of automated trading.

Most traders know how to use stop-loss, which’s a good thing, but that’s not what creates winning opportunities. The same tool can be used to initiate trades, especially if using a trailing stop.

Binance Futures trading platform. Source: Binance

In the above example, this trailing stop buy (long) has an activation price of $12,900. Thus, while the market remains trading above that level, this order remains dormant.

Once Bitcoin reaches that level, it will only buy after a 0.8% bounce (callback rate). Hence, it will automatically buy as soon as Bitcoin rises $103 from its lows.

This strategy is one that is frequently used by professional traders to automate their investing process and it significantly reduces the need to check prices 24-hours a day.

Practice and master those three strategies: futures carry trade, profiting from the funding rate, and buying using trailing stops. Focus on learning non-directional trading and options strategies and free yourself from guessing market tops and bottoms.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Source: https://cointelegraph.com/news/bull-or-bear-pros-don-t-care-here-s-3-strategies-every-trader-should-know

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Tether’s general counsel doubles down on support for Peter McCormack

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Stuart Hoegner, general counsel for Tether and cryptocurrency exchange Bitfinex, is pushing back against claims the stablecoin operator has abandoned podcaster Peter McCormack in his lawsuit against Craig Wright, the Australian national claiming to be Satoshi Nakamoto.

In an Oct. 24 tweet from Hoegner, the general counsel called a recent article from crypto media platform Coingeek which stated Tether had pulled funding from McCormack in his legal battle against Wright “a lie.” Coingeek is owned by Calvin Ayre, a high-profile supporter of Wright who backs his claims that Wright is the creator of Bitcoin (BTC).

“Tether supports Peter McCormack and believes he’s in the right,” said Hoegner.

In April 2019, Wright filed a libel claim against McCormack in the U.K. over McCormack accusing the Australian national of fraud and falsely claiming to be Satoshi. Hoegner said at the time that Tether would “stand behind” the What Bitcoin Did podcaster in his defense against Wright, which hinted at financial support.

However, in response to Hoegner’s denial, Ayre is not backing down.

“I was forwarded a copy of the letter from Peter’s lawyer saying he wants to settle because his funding was cut,” said Ayre on Twitter. “Tether said they were the ones funding him so this has to mean Tether cut funding. If Tether is still funding this makes no sense.”

He continued by promoting Bitcoin SV (BSV), for which both Ayre and Wright are well known proponents:

“My conclusion is that Tether executives know already that Craig is Satoshi and this is all just a big game to keep their scams alive. The smart play would be to move Tether to BSV and abandon BTC.”

Wright has filed several defamation suits against perceived rivals in the crypto industry. In August, he filed a libel suit against Bitcoin Cash (BCH) proponent Roger Ver in the High Court of Antigua and Barbuda. This followed The High Court of England dismissing a similar suit Wright filed against Ver in 2019. However, in April he also abandoned a $125,000 libel suit against Blockstream CEO Adam Back, agreeing to reimburse legal fees.

Source: https://cointelegraph.com/news/tether-s-general-counsel-doubles-down-on-support-for-peter-mccormack

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