Fidelity Launches Inaugural Bitcoin Fund for Wealthy ...

https://btc-arbs.com is very likely a scam. They just locked members' funds blaming heartbleed and an 'acquisition' just happened.

It's very likely a scam. They've been 'acquired' by another company and have locked all members' funds in 'legacy' accounts that cannot be withdrawn and do not earn interest. Be warned. The information is not communicated on their website, but this event has just happened.
See this link for the message from their administrator https://bitcointalk.org/index.php?topic=474787.740
Also see here... http://money-news-online.com/blog/2014/04/22/22042014-daily-news-hyip-industry/
From administrator Sent on April 22nd 2014 Today we have some exciting news that will have a great impact on the overall future of BTC-Arbs as well as all of our arbitrage investors. Over the past few months, BTC-Arbs has grown to become the most prominent and successful Bitcoin arbitrage investment in the Bitcoin community. During this time, we have seen a great deal of interest from venture capitalists, as well as other investors. While the previous buy-out offers that we've received haven't reached the value that we feel that company is worth, we have just negotiated a deal that we believe is fair for all parties.
Effective immediately, BTC-Arbs will be owned and operated by the Global Capital Alliance. The Global Capital Alliance is a venture capital firm that has dove in head first to the Bitcoin industry, and has made a number of strategic investments to position itself for what they believe is the upcoming mass adoption of Bitcoin. With a portfolio of other services such as Bitcoin wallets and cold storage solutions, as well as Bitcoin related retailers, the Global Capital Alliance is the perfect group to take over management of BTC-Arbs and drive it "to the moon".
As a member of BTC-Arbs, you're likely wondering how this will impact the day to day operations of the website, as well as the ability for the site to provide long term earnings. Rather than speak about this myself, I will allow Ron James, the CEO of The Global Capital Alliance to share his thoughts and vision for the future of BTC-Arbs. Please find Ron's introductory note below.
Dear BTC Arbs Members,
It is a pleasure to be part of the team that has recently acquired BTC-Arbs. With offices around the globe, and institutional investors banging at the door, we feel that the time is now for Bitcoin to make a huge splash in the global investment and financial industries. We plan on taking BTC-Arbs from its current form of an unregulated Bitcoin "fund" and transforming it into an institutional investment powerhouse that will serve worldwide investors for years to come. As part of this process, we will be restructuring numerous aspects of the program, evaluating the fund's current assets, and creating a strategy for long term growth. I have outlined the basic steps that we will be immediately taking.
  1. All current balances will be reviewed to ensure that everything is correct. It is believed that some user balances are incorrect due to the Heartbleed Bug that impacted the website at the beginning of April.
  2. Current Bitcoin Balances will be relocated within your account and placed in a balance known as the "Legacy Fund."
  3. The daily arbitrage earnings will apply only to the new Bitcoin balance and will not be calculated on the Legacy Fund.
  4. Funds in the Legacy Fund will be moved to the current Bitcoin balance as we successfully transfer the funds from the previous owners exchange accounts into our new corporate accounts. Furthermore, prior to being transferred, Legacy Funds will be reviewed for accuracy.
  5. The regular fund will continue to earn as usual. New deposits will be accepted and withdrawals will be processed in the normal time frame.
  6. USD Deposits will no longer be accepted. USD Balances are currently being paid out directly to USD users as we speak. If you have a USD Balance, you will soon (if not already) receive a message from our new team with instructions on how to either convert your USD balance to Bitcoin, or withdraw it entirely. Some users have already been sent the value of their accounts to their respective e-currency account.
  7. New Bitcoins deposits will go into the regular Bitcoin balance and will continue earning each day.
The above steps may seem somewhat
If you have any questions about the acquisition of BTC-Arbs, please submit a message in the "Support Zone".
Sincerely, Ron James Global Capital Alliance"
As part of the acquisition, I (Adam) will not be continuing on. I am confident that everyone is in good hands with Ron and everyone from GCA.
Adam
Edit: It is a ponzi scam.
submitted by volatilepointer to Bitcoin [link] [comments]

Bitcoin exchange Bibox launches quant tools with automatic investing service. The Trading Bot Zone offers a low-entry barrier to quantitative trading services. The first phase comes with tools including: automatic investing, grid trading, cross markets arbitrage.

submitted by jeffyal to Bibox [link] [comments]

05-16 06:29 - 'Right. We need to wisely invest it. / ​ / [efintech.life] / ​ / I think this site provides outstanding service for macro-level arbitrage trading with lots of exchanges I've never seen before. Thank you so...' by /u/ns2john removed from /r/Bitcoin within 81-91min

'''
Right. We need to wisely invest it.

[efintech.life]1

I think this site provides outstanding service for macro-level arbitrage trading with lots of exchanges I've never seen before. Thank you so much!
FYI, this is my referral link:
[[link]3
'''
Context Link
Go1dfish undelete link
unreddit undelete link
Author: ns2john
1: efi*t**h.life 2: b**ly*kr*USfOsm 3: bi*l**k**fOsm]^^2
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

10-25 09:54 - 'Automatic Bitcoin Trading: Earn on Arbitrage. Minimum deposit 10$, earn up to 1.5% of investment daily. Withdrawal at any time, maximum transparency.' (cryptofuel.me) by /u/pesp84 removed from /r/Bitcoin within 101-111min

Automatic Bitcoin Trading: Earn on Arbitrage. Minimum deposit 10$, earn up to 1.5% of investment daily. Withdrawal at any time, maximum transparency.
Go1dfish undelete link
unreddit undelete link
Author: pesp84
submitted by removalbot to removalbot [link] [comments]

Automatic Bitcoin Trading: Earn on Arbitrage. Minimum deposit 10$, earn up to 1.5% of investment daily. Withdrawal at any time, maximum transparency.

Automatic Bitcoin Trading: Earn on Arbitrage. Minimum deposit 10$, earn up to 1.5% of investment daily. Withdrawal at any time, maximum transparency. submitted by cryptoallbot to cryptoall [link] [comments]

Automatic Bitcoin Trading: Earn on Arbitrage. Minimum deposit 10$, earn up to 1.5% of investment daily. Withdrawal at any time, maximum transparency.

submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

02-24 02:23 - 'Whats is Corex....???🤔 ... the solution for Crypto, Forex & Arbitrage Trading. We give you the solution for your investment, we halve the risk by spreading capital across two markets, but increasing profits...' (v.redd.it) by /u/CorexCoin removed from /r/Bitcoin within 555-565min

Whats is Corex....???🤔 ... the solution for Crypto, Forex & Arbitrage Trading. We give you the solution for your investment, we halve the risk by spreading capital across two markets, but increasing profits. Exclusive traders who make profits for you on the Forex and the Cryptomarket.
Go1dfish undelete link
unreddit undelete link
Author: CorexCoin
submitted by removalbot to removalbot [link] [comments]

Whats is Corex....??? ... the solution for Crypto, Forex & Arbitrage Trading. We give you the solution for your investment, we halve the risk by spreading capital across two markets, but increasing profits. Exclusive traders who make profits for you on the Forex and the Cryptomarket. /r/Bitcoin

Whats is Corex....??? ... the solution for Crypto, Forex & Arbitrage Trading. We give you the solution for your investment, we halve the risk by spreading capital across two markets, but increasing profits. Exclusive traders who make profits for you on the Forex and the Cryptomarket. /Bitcoin submitted by HiIAMCaptainObvious to BitcoinAll [link] [comments]

Is anyone following the GBTC (Bitcoin Investment Trust)....there is a huge arbitrage

The Bitcoin per share is 0.09306347 so, at the time of writing, it values bitcoin at $5,506.9943 vs ~$2,572.70 on bitcoin exchanges.
Why is this arbitrage holding for so long?
submitted by MISiul to Bitcoin [link] [comments]

[uncensored-r/Bitcoin] Bitcoin arbitrage trading/mining investments

The following post by techcoins is being replicated because the post has been silently greylisted.
The original post can be found(in censored form) at this link:
np.reddit.com/ Bitcoin/comments/77wqax
The original post's content was as follows:
[removed]
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

20 Jobs of the Future (Youtube) Alternative Currency Speculator: As Bitcoin and other virtual currencies are gaining traction with people who distrust Fiat currency; this is creating an opportunity for alternative currency arbitrage and investment opportunities.

20 Jobs of the Future (Youtube) Alternative Currency Speculator: As Bitcoin and other virtual currencies are gaining traction with people who distrust Fiat currency; this is creating an opportunity for alternative currency arbitrage and investment opportunities. submitted by ILikeGreenit to Bitcoin [link] [comments]

Micro Earnings • Invest Bitcoin Arbitrage opportunity to earn 0.02btc

submitted by btcforumbot to BtcForum [link] [comments]

BTC.re - Regarding bitcoin - Trading Hint, BTC/USD Arbitrage, BTC Investment

BTC.re - Regarding bitcoin - Trading Hint, BTC/USD Arbitrage, BTC Investment submitted by joele_ to Bitcoin [link] [comments]

[ANN] [DEF No.1] Quantitative Fund launched by BitOffer - The first Cryptocurrency Quantitative Fund

[ANN] [DEF No.1] Quantitative Fund launched by BitOffer - The first Cryptocurrency Quantitative Fund
DEF No.1 is a Bitcoin Quantitative Fund on BitOffer. It is a fund managed by BitOffer Quantitative team. The team will use trading strategies such as Quantitative Hedge, Quantitative Arbitrage, High-frequency trading, etc. to arbitrage from the BTC/USDT market. As the strategies have been tested for a long while, BitOffer Quantitative Fund will promise the investors a 20% fixed annualized return. It is a number that is really attractive.
First of all, what is BitOffer?
BitOffer is a cryptocurrency exchange starting providing service since March 15th , 2019. New, but innovative... Such as Bitcoin Options, Leveraged Tokens using Bitcoin & ETH as the underlying, Cryptocurrency Wealth Management.
No more praise word here.
What are the advantages of BitOffer Bitcoin Quantitative Fund?
  1. 20% Fixed APY Promised (Compared with yield-farming, and some financial products launched by other exchanges, the APY of the fund is fixed and stable. I know, some DEX fans may say that decentralized is more reliable...That is fine. We all know DeFi also can be hacked, like the “Harvest finance drama”. )
  2. Capital Guaranteed (Yep, it guarantees the original investment. The team will use strategies to arbitrage from the market, at the same time, it will never do any risky operation to bet for a high leveraged profit. Since it is a Quantitative Fund, it shall be operated in a stable way. )
  3. Stable and Fixed
For the basic information, that’s all...
You may want to ask that then what is our gain from all these?
First, arbitrage from the market is possible for a practiced team to make in the financial market. For example, many futures traders should know that the price index quarterly futures always has a price spread from the price index of the spot trading market, then an arbitrage possibility exists.
And TBH, BitOffer can complete profit-taking from it also.
That’s it..XD
In short, Bitcoin Quantitative fund is a fund that guarantees a 20% annualized return and 100% capital. It is a wealth management product that can help investors grow assets gradually.
Leave your comments here, let me know your thought.

https://preview.redd.it/gk43g8vlcev51.png?width=3200&format=png&auto=webp&s=009f81306ec305a4e803a37e391a78474f709a3b
submitted by CoastLam to Bitcoin [link] [comments]

Ultimate glossary of crypto currency terms, acronyms and abbreviations

I thought it would be really cool to have an ultimate guide for those new to crypto currencies and the terms used. I made this mostly for beginner’s and veterans alike. I’m not sure how much use you will get out of this. Stuff gets lost on Reddit quite easily so I hope this finds its way to you. Included in this list, I have included most of the terms used in crypto-communities. I have compiled this list from a multitude of sources. The list is in alphabetical order and may include some words/terms not exclusive to the crypto world but may be helpful regardless.
2FA
Two factor authentication. I highly advise that you use it.
51% Attack:
A situation where a single malicious individual or group gains control of more than half of a cryptocurrency network’s computing power. Theoretically, it could allow perpetrators to manipulate the system and spend the same coin multiple times, stop other users from completing blocks and make conflicting transactions to a chain that could harm the network.
Address (or Addy):
A unique string of numbers and letters (both upper and lower case) used to send, receive or store cryptocurrency on the network. It is also the public key in a pair of keys needed to sign a digital transaction. Addresses can be shared publicly as a text or in the form of a scannable QR code. They differ between cryptocurrencies. You can’t send Bitcoin to an Ethereum address, for example.
Altcoin (alternative coin): Any digital currency other than Bitcoin. These other currencies are alternatives to Bitcoin regarding features and functionalities (e.g. faster confirmation time, lower price, improved mining algorithm, higher total coin supply). There are hundreds of altcoins, including Ether, Ripple, Litecoin and many many others.
AIRDROP:
An event where the investors/participants are able to receive free tokens or coins into their digital wallet.
AML: Defines Anti-Money Laundering laws**.**
ARBITRAGE:
Getting risk-free profits by trading (simultaneous buying and selling of the cryptocurrency) on two different exchanges which have different prices for the same asset.
Ashdraked:
Being Ashdraked is essentially a more detailed version of being Zhoutonged. It is when you lose all of your invested capital, but you do so specifically by shorting Bitcoin. The expression “Ashdraked” comes from a story of a Romanian cryptocurrency investor who insisted upon shorting BTC, as he had done so successfully in the past. When the price of BTC rose from USD 300 to USD 500, the Romanian investor lost all of his money.
ATH (All Time High):
The highest price ever achieved by a cryptocurrency in its entire history. Alternatively, ATL is all time low
Bearish:
A tendency of prices to fall; a pessimistic expectation that the value of a coin is going to drop.
Bear trap:
A manipulation of a stock or commodity by investors.
Bitcoin:
The very first, and the highest ever valued, mass-market open source and decentralized cryptocurrency and digital payment system that runs on a worldwide peer to peer network. It operates independently of any centralized authorities
Bitconnect:
One of the biggest scams in the crypto world. it was made popular in the meme world by screaming idiot Carlos Matos, who infamously proclaimed," hey hey heeeey” and “what's a what's a what's up wasssssssssuuuuuuuuuuuuup, BitConneeeeeeeeeeeeeeeeeeeeeeeect!”. He is now in the mentally ill meme hall of fame.
Block:
A package of permanently recorded data about transactions occurring every time period (typically about 10 minutes) on the blockchain network. Once a record has been completed and verified, it goes into a blockchain and gives way to the next block. Each block also contains a complex mathematical puzzle with a unique answer, without which new blocks can’t be added to the chain.
Blockchain:
An unchangeable digital record of all transactions ever made in a particular cryptocurrency and shared across thousands of computers worldwide. It has no central authority governing it. Records, or blocks, are chained to each other using a cryptographic signature. They are stored publicly and chronologically, from the genesis block to the latest block, hence the term blockchain. Anyone can have access to the database and yet it remains incredibly difficult to hack.
Bullish:
A tendency of prices to rise; an optimistic expectation that a specific cryptocurrency will do well and its value is going to increase.
BTFD:
Buy the fucking dip. This advise was bestowed upon us by the gods themselves. It is the iron code to crypto enthusiasts.
Bull market:
A market that Cryptos are going up.
Consensus:
An agreement among blockchain participants on the validity of data. Consensus is reached when the majority of nodes on the network verify that the transaction is 100% valid.
Crypto bubble:
The instability of cryptocurrencies in terms of price value
Cryptocurrency:
A type of digital currency, secured by strong computer code (cryptography), that operates independently of any middlemen or central authoritie
Cryptography:
The art of converting sensitive data into a format unreadable for unauthorized users, which when decoded would result in a meaningful statement.
Cryptojacking:
The use of someone else’s device and profiting from its computational power to mine cryptocurrency without their knowledge and consent.
Crypto-Valhalla:
When HODLers(holders) eventually cash out they go to a place called crypto-Valhalla. The strong will be separated from the weak and the strong will then be given lambos.
DAO:
Decentralized Autonomous Organizations. It defines A blockchain technology inspired organization or corporation that exists and operates without human intervention.
Dapp (decentralized application):
An open-source application that runs and stores its data on a blockchain network (instead of a central server) to prevent a single failure point. This software is not controlled by the single body – information comes from people providing other people with data or computing power.
Decentralized:
A system with no fundamental control authority that governs the network. Instead, it is jointly managed by all users to the system.
Desktop wallet:
A wallet that stores the private keys on your computer, which allow the spending and management of your bitcoins.
DILDO:
Long red or green candles. This is a crypto signal that tells you that it is not favorable to trade at the moment. Found on candlestick charts.
Digital Signature:
An encrypted digital code attached to an electronic document to prove that the sender is who they say they are and confirm that a transaction is valid and should be accepted by the network.
Double Spending:
An attack on the blockchain where a malicious user manipulates the network by sending digital money to two different recipients at exactly the same time.
DYOR:
Means do your own research.
Encryption:
Converting data into code to protect it from unauthorized access, so that only the intended recipient(s) can decode it.
Eskrow:
the practice of having a third party act as an intermediary in a transaction. This third party holds the funds on and sends them off when the transaction is completed.
Ethereum:
Ethereum is an open source, public, blockchain-based platform that runs smart contracts and allows you to build dapps on it. Ethereum is fueled by the cryptocurrency Ether.
Exchange:
A platform (centralized or decentralized) for exchanging (trading) different forms of cryptocurrencies. These exchanges allow you to exchange cryptos for local currency. Some popular exchanges are Coinbase, Bittrex, Kraken and more.
Faucet:
A website which gives away free cryptocurrencies.
Fiat money:
Fiat currency is legal tender whose value is backed by the government that issued it, such as the US dollar or UK pound.
Fork:
A split in the blockchain, resulting in two separate branches, an original and a new alternate version of the cryptocurrency. As a single blockchain forks into two, they will both run simultaneously on different parts of the network. For example, Bitcoin Cash is a Bitcoin fork.
FOMO:
Fear of missing out.
Frictionless:
A system is frictionless when there are zero transaction costs or trading retraints.
FUD:
Fear, Uncertainty and Doubt regarding the crypto market.
Gas:
A fee paid to run transactions, dapps and smart contracts on Ethereum.
Halving:
A 50% decrease in block reward after the mining of a pre-specified number of blocks. Every 4 years, the “reward” for successfully mining a block of bitcoin is reduced by half. This is referred to as “Halving”.
Hardware wallet:
Physical wallet devices that can securely store cryptocurrency maximally. Some examples are Ledger Nano S**,** Digital Bitbox and more**.**
Hash:
The process that takes input data of varying sizes, performs an operation on it and converts it into a fixed size output. It cannot be reversed.
Hashing:
The process by which you mine bitcoin or similar cryptocurrency, by trying to solve the mathematical problem within it, using cryptographic hash functions.
HODL:
A Bitcoin enthusiast once accidentally misspelled the word HOLD and it is now part of the bitcoin legend. It can also mean hold on for dear life.
ICO (Initial Coin Offering):
A blockchain-based fundraising mechanism, or a public crowd sale of a new digital coin, used to raise capital from supporters for an early stage crypto venture. Beware of these as there have been quite a few scams in the past.
John mcAfee:
A man who will one day eat his balls on live television for falsely predicting bitcoin going to 100k. He has also become a small meme within the crypto community for his outlandish claims.
JOMO:
Joy of missing out. For those who are so depressed about missing out their sadness becomes joy.
KYC:
Know your customer(alternatively consumer).
Lambo:
This stands for Lamborghini. A small meme within the investing community where the moment someone gets rich they spend their earnings on a lambo. One day we will all have lambos in crypto-valhalla.
Ledger:
Away from Blockchain, it is a book of financial transactions and balances. In the world of crypto, the blockchain functions as a ledger. A digital currency’s ledger records all transactions which took place on a certain block chain network.
Leverage:
Trading with borrowed capital (margin) in order to increase the potential return of an investment.
Liquidity:
The availability of an asset to be bought and sold easily, without affecting its market price.
of the coins.
Margin trading:
The trading of assets or securities bought with borrowed money.
Market cap/MCAP:
A short-term for Market Capitalization. Market Capitalization refers to the market value of a particular cryptocurrency. It is computed by multiplying the Price of an individual unit of coins by the total circulating supply.
Miner:
A computer participating in any cryptocurrency network performing proof of work. This is usually done to receive block rewards.
Mining:
The act of solving a complex math equation to validate a blockchain transaction using computer processing power and specialized hardware.
Mining contract:
A method of investing in bitcoin mining hardware, allowing anyone to rent out a pre-specified amount of hashing power, for an agreed amount of time. The mining service takes care of hardware maintenance, hosting and electricity costs, making it simpler for investors.
Mining rig:
A computer specially designed for mining cryptocurrencies.
Mooning:
A situation the price of a coin rapidly increases in value. Can also be used as: “I hope bitcoin goes to the moon”
Node:
Any computing device that connects to the blockchain network.
Open source:
The practice of sharing the source code for a piece of computer software, allowing it to be distributed and altered by anyone.
OTC:
Over the counter. Trading is done directly between parties.
P2P (Peer to Peer):
A type of network connection where participants interact directly with each other rather than through a centralized third party. The system allows the exchange of resources from A to B, without having to go through a separate server.
Paper wallet:
A form of “cold storage” where the private keys are printed onto a piece of paper and stored offline. Considered as one of the safest crypto wallets, the truth is that it majors in sweeping coins from your wallets.
Pre mining:
The mining of a cryptocurrency by its developers before it is released to the public.
Proof of stake (POS):
A consensus distribution algorithm which essentially rewards you based upon the amount of the coin that you own. In other words, more investment in the coin will leads to more gain when you mine with this protocol In Proof of Stake, the resource held by the “miner” is their stake in the currency.
PROOF OF WORK (POW) :
The competition of computers competing to solve a tough crypto math problem. The first computer that does this is allowed to create new blocks and record information.” The miner is then usually rewarded via transaction fees.
Protocol:
A standardized set of rules for formatting and processing data.
Public key / private key:
A cryptographic code that allows a user to receive cryptocurrencies into an account. The public key is made available to everyone via a publicly accessible directory, and the private key remains confidential to its respective owner. Because the key pair is mathematically related, whatever is encrypted with a public key may only be decrypted by its corresponding private key.
Pump and dump:
Massive buying and selling activity of cryptocurrencies (sometimes organized and to one’s benefit) which essentially result in a phenomenon where the significant surge in the value of coin followed by a huge crash take place in a short time frame.
Recovery phrase:
A set of phrases you are given whereby you can regain or access your wallet should you lose the private key to your wallets — paper, mobile, desktop, and hardware wallet. These phrases are some random 12–24 words. A recovery Phrase can also be called as Recovery seed, Seed Key, Recovery Key, or Seed Phrase.
REKT:
Referring to the word “wrecked”. It defines a situation whereby an investor or trader who has been ruined utterly following the massive losses suffered in crypto industry.
Ripple:
An alternative payment network to Bitcoin based on similar cryptography. The ripple network uses XRP as currency and is capable of sending any asset type.
ROI:
Return on investment.
Safu:
A crypto term for safe popularized by the Bizonnaci YouTube channel after the CEO of Binance tweeted
“Funds are safe."
“the exchage I use got hacked!”“Oh no, are your funds safu?”
“My coins better be safu!”


Sats/Satoshi:
The smallest fraction of a bitcoin is called a “satoshi” or “sat”. It represents one hundred-millionth of a bitcoin and is named after Satoshi Nakamoto.
Satoshi Nakamoto:
This was the pseudonym for the mysterious creator of Bitcoin.
Scalability:
The ability of a cryptocurrency to contain the massive use of its Blockchain.
Sharding:
A scaling solution for the Blockchain. It is generally a method that allows nodes to have partial copies of the complete blockchain in order to increase overall network performance and consensus speeds.
Shitcoin:
Coin with little potential or future prospects.
Shill:
Spreading buzz by heavily promoting a particular coin in the community to create awareness.
Short position:
Selling of a specific cryptocurrency with an expectation that it will drop in value.
Silk road:
The online marketplace where drugs and other illicit items were traded for Bitcoin. This marketplace is using accessed through “TOR”, and VPNs. In October 2013, a Silk Road was shut down in by the FBI.
Smart Contract:
Certain computational benchmarks or barriers that have to be met in turn for money or data to be deposited or even be used to verify things such as land rights.
Software Wallet:
A crypto wallet that exists purely as software files on a computer. Usually, software wallets can be generated for free from a variety of sources.
Solidity:
A contract-oriented coding language for implementing smart contracts on Ethereum. Its syntax is similar to that of JavaScript.
Stable coin:
A cryptocoin with an extremely low volatility that can be used to trade against the overall market.
Staking:
Staking is the process of actively participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain. On these blockchains, anyone with a minimum-required balance of a specific cryptocurrency can validate transactions and earn Staking rewards.
Surge:
When a crypto currency appreciates or goes up in price.
Tank:
The opposite of mooning. When a coin tanks it can also be described as crashing.
Tendies
For traders , the chief prize is “tendies” (chicken tenders, the treat an overgrown man-child receives for being a “Good Boy”) .
Token:
A unit of value that represents a digital asset built on a blockchain system. A token is usually considered as a “coin” of a cryptocurrency, but it really has a wider functionality.
TOR: “The Onion Router” is a free web browser designed to protect users’ anonymity and resist censorship. Tor is usually used surfing the web anonymously and access sites on the “Darkweb”.
Transaction fee:
An amount of money users are charged from their transaction when sending cryptocurrencies.
Volatility:
A measure of fluctuations in the price of a financial instrument over time. High volatility in bitcoin is seen as risky since its shifting value discourages people from spending or accepting it.
Wallet:
A file that stores all your private keys and communicates with the blockchain to perform transactions. It allows you to send and receive bitcoins securely as well as view your balance and transaction history.
Whale:
An investor that holds a tremendous amount of cryptocurrency. Their extraordinary large holdings allow them to control prices and manipulate the market.
Whitepaper:

A comprehensive report or guide made to understand an issue or help decision making. It is also seen as a technical write up that most cryptocurrencies provide to take a deep look into the structure and plan of the cryptocurrency/Blockchain project. Satoshi Nakamoto was the first to release a whitepaper on Bitcoin, titled “Bitcoin: A Peer-to-Peer Electronic Cash System” in late 2008.
And with that I finally complete my odyssey. I sincerely hope that this helped you and if you are new, I welcome you to crypto. If you read all of that I hope it increased, you in knowledge.
my final definition:
Crypto-Family:
A collection of all the HODLers and crypto fanatics. A place where all people alike unite over a love for crypto.
We are all in this together as we pioneer the new world that is crypto currency. I wish you a great day and Happy HODLing.
-u/flacciduck
feel free to comment words or terms that you feel should be included or about any errors I made.
Edit1:some fixes were made and added words.
submitted by flacciduck to CryptoCurrency [link] [comments]

Why the increased buying at Greyscale does not translate into higher BTC prices. An opinional analysis.

BREAKING: Greyscale Bitcoin Trust just bought another 134,000 BTC in the last hour!!!!! Why is the price NOT going up????????
The above headline is what everyone else is thinking. I mean come on - with all of the buying that greyscale is doing....why isn’t BTC 20,000 bucks by now.
The reason is simple: Although Greyscale did add X amount of Bitcoin to their Bitcoin fund - it does not add NET NEW BUYERS of BITCOIN as assumed.
Let me elaborate.
The Greyscale Bitcoin Trust (GBTC) allows investors to fund their shares of GBTC in cash....AND BITCOIN! What that means is people can give GBTC their BTC and receive common shares of GBTC in return. GBTC the common shares trade on the OTCQX private market exchange in the US....at a premium.
What it means to trade at a premium: it means that the price per common share of BTC is higher than the actual amount of BTC held in the fund.
Premium Illustration with fake numbers:
The entire GBTC fund has 100 bitcoin at $1,000 per Bitcoin meaning the entire fund should be worth 100 BTC* 1000 = $100,000!
As there are 100 bitcoin in the entire fund and bitcoin is trading at a thousand bucks - obviously the whole fund is worth $100k.
The common equity of GBTC would be trading a premium when the equity value is higher than $100k. For simplicity let’s say the total market cap (total value of public equity) is $110k - this indicates that the equity value of GBTC is trading at a 10% premium to market because the fund is clearly ONLY worth $100k yet the equity value is trading at $110k - the premium portion would be $10k.
Why does this happen: it is easier for investors to buy shares in GBTC with the click of a button in their brokerage account then it is to buy BTC the old fashioned way on an exchange like Gemini.
Now that we understand what a premium is and how it relates to GBTC: how does this relate to the bitcoin price not going up? It means that original holders of Bitcoin can arbitrage the GBTC Premium quite easily through funding their accounts of GBTC IN BTC then selling their common equity on the open market at the premium. The extra value gained is the premium. As the investor funded their account in BTC - no new Bitcoin buying actually occurred; someone GAVE Greyscale BTC, got equity back, then sold it for cash on the open market. People are doing this because the GBTC premium is so high that it’s way more lucrative selling through GBTC then going on Gemini or some other exchange.
Lucrative traders can exploit the GBTC premium but it’s important to note that new private investors of GBTC are subject to a 6 month hold on their shares. They’d be illiquid for awhile. This allows for savvy BTC investors to trade the GBTC premium twice per year.
Sample series of Trades:
Step 1: I have 1 Bitcoin. Step 2: I choose to give it to GBTC and get shares back. Step 3: I give GBTC my BTC and they give me shares in the fund which I cannot sell for 6 months. Step 4: 6 months later my shares are 15% higher premium. Step 5: sell my GBTC common shares for cash. Step 6: Take cash.
The above analysis ignores GBTC investment fund fees and trading fees.
See what I am saying people? Bitcoin traders can exploit the premium in the market for GBTC’s common shares by funding their accounts in BTC and selling the premium. People contributing BTC to GBTC is NOT the same as GBTC raising cash and buying BTC - effectively taking circulating BTC out of the market into a permanent HODL.
submitted by Aggravating_Boss_515 to Bitcoin [link] [comments]

Is Convergence the Future of DeFi? InfinityDefi Tells Who Will Dominate the Field

After more than two years of brewing, DeFi broke out in the summer of 2020. Within just three months from mid-June till present, the progress is dazzling. This is by far the most innovative stage in the cryptocurrency history. Liquidity mining and yield farming are extremely popular and the Ethereum gas fee skyrocketed on their backs. Meanwhile, some projects are forced to close due to the overly costly transaction fees they need to subsidize for users. What did classic DeFi projects do in the past six months?
Liquidity mining has been a recognized driver for DeFi. The model was originated by Synthetix on Curve to distribute SNX token incentives to users who provide liquidity for the sUSD pool. Synthetix is a synthetic asset generation and trading protocol, therefore, with no liquidity its synthetic assets are meaningless.
What is liquidity mining? It is depositing or lending tokens under a set of rules to a DeFi product with a mining mechanism to ensure liquidity for the product’s fund pool with the final aim to get rewards for it. The recently popular Compound does it. Compound is a DeFi protocol for collateralized lending on Ethereum. Users provide their tokens to get annualized income or pay interest to borrow tokens. While borrowing and lending, they earn the governance token COMP distributed by a smart contract.
Their token COMP serves for governance and reflects the business value. All borrowers and lenders on Compound earn COMP. The total number of tokens allocated for mining is 4,229,949. Lenders get one half and borrowers get the other half of it. When COMP price rises, the users’ motivation to deposit and borrow money is stronger.
YAM is the initiator of mining + forking. When AMPL came out, there were some imitators but none of them gained mass attention in the crypto community. The only exception is YAM. Why is YAM so attractive? It is a fork of AMPL with YFI‘s issuance mechanism that added a couple of new features such as a reserve and exploded.
YFI is the governance token on https://yearn.finance. It has no pre-mining, ICO, allocation for the team, or reserve for investment institutions. It adopts the online governance model and community decides on its development direction, which is quite fair. Due to its distribution method, YFI is even called the Bitcoin in DeFi.
https://yearn.finance automatically deposit stablecoins and mines liquidity on AAVE, Compound, dYdX, etc. It has a set of revenue tools like ytrade, yliquidate, yleverage, ypool, and smart contract pledge loans. https://yearn.finance aims to simplify the overly complex liquidity mining and automate the operations. It seeks the best profit strategy for asset holders and increases gas usage efficiency for small-scale miners. Even when Ethereum gas fee reached 100 gwei, the deposit and withdrawal fees were around 2 USD.
Sushiswap: The Trend Setter
DEX are the largest chunk of DeFi. The top three are Uniswap, Balancer, and Curve. More than a dozen of DEX has daily trading volume over $10 million. With the rising volume, DEX will be the competition for centralized exchanges (CEX) in the future.
Sushiswap pushes forking + mining. It is a fork of Uniswap with increased token distribution for mining that tried to pull the liquidity carpet from under Uniswap. It has mining pools for stablecoins like USDT, USDC, and DAI as well as Uniswap’s most liquid mainstream DeFi token pools. However, Sushiswap imitators lack originality. Various “food swaps” that appeared recently are bound to enter the death spiral.
Need aggregators? InfinityDefi (INFI) Is What You Need
In the Internet age, aggregators get the most value. Google aggregates the content of websites, Facebook does it with social relationships and content, Amazon with goods and trading, Airbnb with guest rooms, etc. These tech giants have subverted traditional industries and built a near-monopoly position.
Why are they close to monopoly? As more users, content, and products are aggregated, the cost drops and a network effect forms. The wall is high, but the one who crosses it takes all. The same is true for DeFi. It is just a technology on top of a financial arbitrage model, which is cyclic depositing and borrowing to earn interest.
DeFi is modular and trustless and aggregators take advantage of it. Liquidity mining, staking, lending, or DEX AMM are all essentially deposition of tokens to a storage pool to earn revenue. INFI (InfinityDefi) is an aggregate DeFi product, a decentralized digital bank as they call themselves. They are adding a vault with the best investment and value preservation services.
InfinityDefi is a dApp on Ethereum and a cross-chain, multi-currency system with multi-collateral backing. Its Polymerization Pool combines collateral and debts and integrates price feeding, auction, and autonomous management. Users pledge a variety of stablecoins and non-stablecoins to borrow funds. The Pool dynamically adjusts interest rates according to each currency’s ratio in it for higher stability. That is, when the pool is short of ETH, the interest rate earned by ETH pledgers rises.
The protocol is decentralized, transparent, and fair. Besides the standard collateral lending, InfinityDefi lenders can pledge their existing external collateral agreements to other users of the platform as collateral for new loans and better arbitrage. The new (secondary) lender owns the collateral debt. When the lender of the first collateralized loan has an urgent short-term capital demand, it can become a borrower with secondary collateral, sell its creditor’s rights, and get a loan bigger than the original collateral.
InfinityDefi provides secondary loans amounting to 10% of your primary collateral on other platforms. The model is still the traditional “give something as collateral and borrow,” while empowering users and providing more benefits.

Other incentives are equity tokens PPT issued for each loan and collateral (whether primary or secondary). PPT rewards increase with the size and duration of collateral. Conversion of PPT to INFI, the ecosystem token, is available. INFI holders participate in the project management and share the project’s financial risks for stability, transparency, and efficiency, and share profits of the entire ecosystem in return. The respective governance power is proportional to the number of INFI in the voter’s account. INFI aims for listing on major exchanges.
submitted by summerflyoo7 to CryptoMoonShots [link] [comments]

Is Convergence the Future of DeFi? InfinityDefi Tells Who Will Dominate the Field

After more than two years of brewing, DeFi broke out in the summer of 2020. Within just three months from mid-June till present, the progress is dazzling. This is by far the most innovative stage in the cryptocurrency history. Liquidity mining and yield farming are extremely popular and the Ethereum gas fee skyrocketed on their backs. Meanwhile, some projects are forced to close due to the overly costly transaction fees they need to subsidize for users. What did classic DeFi projects do in the past six months?
Liquidity mining has been a recognized driver for DeFi. The model was originated by Synthetix on Curve to distribute SNX token incentives to users who provide liquidity for the sUSD pool. Synthetix is a synthetic asset generation and trading protocol, therefore, with no liquidity its synthetic assets are meaningless.
What is liquidity mining? It is depositing or lending tokens under a set of rules to a DeFi product with a mining mechanism to ensure liquidity for the product’s fund pool with the final aim to get rewards for it. The recently popular Compound does it. Compound is a DeFi protocol for collateralized lending on Ethereum. Users provide their tokens to get annualized income or pay interest to borrow tokens. While borrowing and lending, they earn the governance token COMP distributed by a smart contract.
Their token COMP serves for governance and reflects the business value. All borrowers and lenders on Compound earn COMP. The total number of tokens allocated for mining is 4,229,949. Lenders get one half and borrowers get the other half of it. When COMP price rises, the users’ motivation to deposit and borrow money is stronger.
YAM is the initiator of mining + forking. When AMPL came out, there were some imitators but none of them gained mass attention in the crypto community. The only exception is YAM. Why is YAM so attractive? It is a fork of AMPL with YFI‘s issuance mechanism that added a couple of new features such as a reserve and exploded.
YFI is the governance token on https://yearn.finance. It has no pre-mining, ICO, allocation for the team, or reserve for investment institutions. It adopts the online governance model and community decides on its development direction, which is quite fair. Due to its distribution method, YFI is even called the Bitcoin in DeFi.
https://yearn.finance automatically deposit stablecoins and mines liquidity on AAVE, Compound, dYdX, etc. It has a set of revenue tools like ytrade, yliquidate, yleverage, ypool, and smart contract pledge loans. https://yearn.finance aims to simplify the overly complex liquidity mining and automate the operations. It seeks the best profit strategy for asset holders and increases gas usage efficiency for small-scale miners. Even when Ethereum gas fee reached 100 gwei, the deposit and withdrawal fees were around 2 USD.
Sushiswap: The Trend Setter
DEX are the largest chunk of DeFi. The top three are Uniswap, Balancer, and Curve. More than a dozen of DEX has daily trading volume over $10 million. With the rising volume, DEX will be the competition for centralized exchanges (CEX) in the future.
Sushiswap pushes forking + mining. It is a fork of Uniswap with increased token distribution for mining that tried to pull the liquidity carpet from under Uniswap. It has mining pools for stablecoins like USDT, USDC, and DAI as well as Uniswap’s most liquid mainstream DeFi token pools. However, Sushiswap imitators lack originality. Various “food swaps” that appeared recently are bound to enter the death spiral.
Need aggregators? InfinityDefi (INFI) Is What You Need
In the Internet age, aggregators get the most value. Google aggregates the content of websites, Facebook does it with social relationships and content, Amazon with goods and trading, Airbnb with guest rooms, etc. These tech giants have subverted traditional industries and built a near-monopoly position.
Why are they close to monopoly? As more users, content, and products are aggregated, the cost drops and a network effect forms. The wall is high, but the one who crosses it takes all. The same is true for DeFi. It is just a technology on top of a financial arbitrage model, which is cyclic depositing and borrowing to earn interest.
DeFi is modular and trustless and aggregators take advantage of it. Liquidity mining, staking, lending, or DEX AMM are all essentially deposition of tokens to a storage pool to earn revenue. INFI (InfinityDefi) is an aggregate DeFi product, a decentralized digital bank as they call themselves. They are adding a vault with the best investment and value preservation services.
InfinityDefi is a dApp on Ethereum and a cross-chain, multi-currency system with multi-collateral backing. Its Polymerization Pool combines collateral and debts and integrates price feeding, auction, and autonomous management. Users pledge a variety of stablecoins and non-stablecoins to borrow funds. The Pool dynamically adjusts interest rates according to each currency’s ratio in it for higher stability. That is, when the pool is short of ETH, the interest rate earned by ETH pledgers rises.
The protocol is decentralized, transparent, and fair. Besides the standard collateral lending, InfinityDefi lenders can pledge their existing external collateral agreements to other users of the platform as collateral for new loans and better arbitrage. The new (secondary) lender owns the collateral debt. When the lender of the first collateralized loan has an urgent short-term capital demand, it can become a borrower with secondary collateral, sell its creditor’s rights, and get a loan bigger than the original collateral.
InfinityDefi provides secondary loans amounting to 10% of your primary collateral on other platforms. The model is still the traditional “give something as collateral and borrow,” while empowering users and providing more benefits.
Other incentives are equity tokens PPT issued for each loan and collateral (whether primary or secondary). PPT rewards increase with the size and duration of collateral. Conversion of PPT to INFI, the ecosystem token, is available. INFI holders participate in the project management and share the project’s financial risks for stability, transparency, and efficiency, and share profits of the entire ecosystem in return. The respective governance power is proportional to the number of INFI in the voter’s account. INFI aims for listing on major exchanges.
submitted by summerflyoo7 to ethtrader [link] [comments]

10-23 10:25 - 'My story since I traded cryptocurrency' (self.Bitcoin) by /u/LucianBitcoin removed from /r/Bitcoin within 74-84min

'''
My name is Lucian Chuck, and I used to be a normal student in Texas. My family was poor when I was 18. I even had to have 2 part-time jobs so that I can pay my meal in the campus.
It was lucky that I knew cryptocurrency in 2017 when ICO was hot at that moment.
When I first met ICO, I don't know if it was scam or not, all in my mind was that it might be the chance to make me rich and get rid of poverty. After then, I sold my ruddy car, it was sort of like this one:

[link]3
The dealer was nice, even such a bone shaker, he still gave me a nearly $2k offer.
Fortunately, the ICO I invested exploded from $1 to $50. The first time I traded crypto, I earned 80 grands.
If you have experienced the ICO wave in 2017, you would have known that making money from ICO was a piece of cake.
When I graduated in the spring, 2018, I cashed out with 50k USD. I became the richest one in my dorm. I drove my full paid Mustang, and rent the best apartment in Dallas.
However, I got rekt since I was crazy about do 100X leveraged trading on BitMEX...
At first, I was satisfying my addiction to gambling...
Then, I wanted to win my money back...
Last month, my account on BitMEX was liquidated...
Damn, I became a poor man again.
That is the story was gonna end. Though I met BitOffer Quantitative Fund, the poster really attracts me: "Capital & Interest Guaranteed". I thought it was scam, but when I read their article, I found that it was interesting: "After long-term research which made BitOffer fully understand the market’s requirement, BitOffer Official cooperated with the Asian team of Goldman, launched the first capital & interest guaranteed BTC quantitative fund. Using strategies like quantitative hedge, arbitrage, and high-frequency trade, the APY of the fund named “DEF №1” will make the 20% APY to be promised, which is 4 times higher than other funds provided by other exchanges. What is more, redeem is available anytime, and whenever investors choose to redeem their capital, the capital will still be guaranteed. It deeply fits the investors’ demand for chasing high returns but being stable and safe." from: [The First Capital & Interest Guaranteed Bitcoin Quantitative Fund Came, Farewell to Yield-Farming]1
I decided to find a job, and invest in BitOffer Quantitative Fund to get 20% fixed return but still get my investment to be guaranteed.
Now I sold my Mustang, and live in a motel. This time, I decide to grow my asset in a stable way.
Now you can check their [website]2 to know more also.
I will update my daily investment everyday. Follow me
'''
My story since I traded cryptocurrency
Go1dfish undelete link
unreddit undelete link
Author: LucianBitcoin
1: *edium**o*/*i*-offe*-e*g**sh/the-fir*t*cap*tal-i*te*es*-guar***e*d-bit*o**-q*a*titative-fu**-came-farewe*l-to*yield-**rmin*-ed**8071ed0d 2: www**ito*fer.com*f***nce/*ef-Win*No1 3: preview.*edd.it*q9*cxw6r7tu51.p**?widt*=**5&a*p;*orm***png**mp;aut**w**p**mp*s=4*64*85209f*d2c4**be**ede66fe055c*a0e962
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

Investing in crypto currencies with Nimbus Platform

Another of my ways to generate income today is the Nimbus Platform. In fact, it is the one that generates the most income for me, with an approximate income of $2000/month. We can earn from 7.5% to 12% depending on our initial investment.
It is a very easy to use platform and its system is based on an automatic arbitrage bot on crypto currencies. They basically buy, for example, Bitcoin in an exchange at one price and sell it in another at a higher price. This formula is totally legal and safe, since the operation is only performed when the system detects an opportunity to make a profit with arbitration.
If you want to read more about this trading platform, you can visit my website https://nimbusplatform.app/, where I explain the entire system and provide you with the link to create your free investor account. There you will also find my direct contact by Whatsapp to resolve any questions you may have.
submitted by PassiveIncome4Ever to u/PassiveIncome4Ever [link] [comments]

The First Capital & Interest Guaranteed Bitcoin Quantitative Fund Came, Farewell to Yield-Farming

The First Capital & Interest Guaranteed Bitcoin Quantitative Fund Came, Farewell to Yield-Farming

https://preview.redd.it/9hl3xhykvft51.png?width=3200&format=png&auto=webp&s=517eabf4e1519fa5ec823f0a0b84718af57e9f70
After the BTC bull run in 2017, the whole cryptocurrency industry has been through a long adjustment. During the period, more and more investors chose to become miners, especially in the year 2020, while yield-farming in DeFi became hot, investors started moving most capitals to farm DeFi tokens. However, the entry barriers to becoming a liquidity provider are high. If a normal user not only wants to be an LP but also desires to arbitrage from the market, then it would be extremely difficult. Moreover, the impermanent loss is a thing that keeps investors away from guaranteeing capital & interest.
As the worldwide economy developed, the average income was enhanced, so was the financial input made by individuals and families. Statistically, the deposit to financial products gradually rose while non-break-even products occupied by 23.40 trillion USD (+6.15%). And the launch of net-value products kept being increased, as its deposit took up by 10.13 trillion USD (+68.61%).
Since the financial crisis in 2008 happened, most countries remained a loose monetary policy as the interest rate kept lowing down, which now ranked at a rate less than 2%. Besides, Some commercial bank and institutions launched their own financial products. To attracts more users to be involved, at first, the annualized yield was high, but when they have earned enough eye-contacts from the market, the annualized rate has been back to a low level which was just one step higher than that of the bank. The demand to chase for high returns cannot be satisfied, investors always dig for a stable investment that can guarantee the capital & interest but still pay high interest back. There we go, BitOffer will launch the first capital & interest guaranteed BTC Quantitative Fund soon.
Before that, many other cryptocurrency exchanges launched Quantitative Wealth Managements, and most of them set the APY at about 5%, which is 2 times higher than that of traditional finance. However, those cryptocurrency quantitative asset management are not break even, just like the ones in the yield of traditional finance. Since their returns have strong relevance to the market trend, when an extreme decline happens, investors cannot avoid the loss. In addition, the volatility of cryptocurrency is always extremely high, and unable to be predicted, which means, the risk of investing in those products exists.
After long-term research which made BitOffer fully understand the market’s requirement, BitOffer Official cooperated with the Asian team of Goldman, launched the first capital & interest guaranteed BTC quantitative fund. Using strategies like quantitative hedge, arbitrage, and high-frequency trade, the APY of the fund named “DEF №1” will make the 20% APY to be promised, which is 4 times higher than other funds provided by other exchanges. What is more, redeem is available anytime, and whenever investors choose to redeem their capital, the capital will still be guaranteed. It deeply fits the investors’ demand for chasing high returns but being stable and safe.
Before, many investors participated in DeFi yield-farming for getting high returns from cryptocurrency. Though, the expensive gas fees and trading fees, plus the impermanent loss, kept investors losing money. Now, the quantitative fund launched by BitOffer encourages people to farewell to yield-farming in 2020.
In addition, the U.S election is tik tok, tik tok, the gold market, and American Stocks started being fluctuated. As we’ve seen, a strong correlation exists among bitcoin, gold, and American stocks. Since the market became shocked, open any positions of Bitcoins might cause losses. Then, the COVID-19 effects on the economy made the whole market saggy, and the situation in the next year now cannot be expected to turn better. Facing such a severe situation, products like BitOffer Quantitative Fund which guarantees capitals and profits shall be the first choice.
Lucian Leung, the chief analyst of BitOffer indicated: “ Financial products need to be adapted to the real situation so that it can lift up its value to investors. Investors’ experience and demand matters, that is why BitOffer DEF №1 launches.”. As BitOffer Quantitative Funds will be launched and available to purchase on Oct 22nd, it will be renowned in the whole cryptocurrency industry, and break the ice.
submitted by Bitoffer_Official to BitOffer_Official [link] [comments]

ETHE & GBTC (Grayscale) Frequently Asked Questions

It is no doubt Grayscale’s booming popularity as a mainstream investment has caused a lot of community hullabaloo lately. As such, I felt it was worth making a FAQ regarding the topic. I’m looking to update this as needed and of course am open to suggestions / adding any questions.
The goal is simply to have a thread we can link to anyone with questions on Grayscale and its products. Instead of explaining the same thing 3 times a day, shoot those posters over to this thread. My hope is that these questions are answered in a fairly simple and easy to understand manner. I think as the sub grows it will be a nice reference point for newcomers.
Disclaimer: I do NOT work for Grayscale and as such am basing all these answers on information that can be found on their website / reports. (Grayscale’s official FAQ can be found here). I also do NOT have a finance degree, I do NOT have a Series 6 / 7 / 140-whatever, and I do NOT work with investment products for my day job. I have an accounting background and work within the finance world so I have the general ‘business’ knowledge to put it all together, but this is all info determined in my best faith effort as a layman. The point being is this --- it is possible I may explain something wrong or missed the technical terms, and if that occurs I am more than happy to update anything that can be proven incorrect
Everything below will be in reference to ETHE but will apply to GBTC as well. If those two segregate in any way, I will note that accordingly.
What is Grayscale? 
Grayscale is the company that created the ETHE product. Their website is https://grayscale.co/
What is ETHE? 
ETHE is essentially a stock that intends to loosely track the price of ETH. It does so by having each ETHE be backed by a specific amount of ETH that is held on chain. Initially, the newly minted ETHE can only be purchased by institutions and accredited investors directly from Grayscale. Once a year has passed (6 months for GBTC) it can then be listed on the OTCQX Best Market exchange for secondary trading. Once listed on OTCQX, anyone investor can purchase at this point. Additional information on ETHE can be found here.
So ETHE is an ETF? 
No. For technical reasons beyond my personal understandings it is not labeled an ETF. I know it all flows back to the “Securities Act Rule 144”, but due to my limited knowledge on SEC regulations I don’t want to misspeak past that. If anyone is more knowledgeable on the subject I am happy to input their answer here.
How long has ETHE existed? 
ETHE was formed 12/14/2017. GBTC was formed 9/25/2013.
How is ETHE created? 
The trust will issue shares to “Authorized Participants” in groups of 100 shares (called baskets). Authorized Participants are the only persons that may place orders to create these baskets and they do it on behalf of the investor.
Source: Creation and Redemption of Shares section on page 39 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
Note – The way their reports word this makes it sound like there is an army of authorizers doing the dirty work, but in reality there is only one Authorized Participant. At this moment the “Genesis” company is the sole Authorized Participant. Genesis is owned by the “Digital Currency Group, Inc.” which is the parent company of Grayscale as well. (And to really go down the rabbit hole it looks like DCG is the parent company of CoinDesk and is “backing 150+ companies across 30 countries, including Coinbase, Ripple, and Chainalysis.”)
Source: Digital Currency Group, Inc. informational section on page 77 of the “Grayscale Bitcoin Trust (BTC) Form 10-K (2019)” – Located Here
Source: Barry E. Silbert informational section on page 75 of the “Grayscale Bitcoin Trust (BTC) Form 10-K (2019)” – Located Here
How does Grayscale acquire the ETH to collateralize the ETHE product? 
An Investor may acquire ETHE by paying in cash or exchanging ETH already owned.
Source: Creation and Redemption of Shares section on page 40 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
Where does Grayscale store their ETH? Does it have a specific wallet address we can follow? 
ETH is stored with Coinbase Custody Trust Company, LLC. I am unaware of any specific address or set of addresses that can be used to verify the ETH is actually there.
As an aside - I would actually love to see if anyone knows more about this as it’s something that’s sort of peaked my interest after being asked about it… I find it doubtful we can find that however.
Source: Part C. Business Information, Item 8, subsection A. on page 16 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
Can ETHE be redeemed for ETH? 
No, currently there is no way to give your shares of ETHE back to Grayscale to receive ETH back. The only method of getting back into ETH would be to sell your ETHE to someone else and then use those proceeds to buy ETH yourself.
Source: Redemption Procedures on page 41 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
Why are they not redeeming shares? 
I think the report summarizes it best:
Redemptions of Shares are currently not permitted and the Trust is unable to redeem Shares. Subject to receipt of regulatory approval from the SEC and approval by the Sponsor in its sole discretion, the Trust may in the future operate a redemption program. Because the Trust does not believe that the SEC would, at this time, entertain an application for the waiver of rules needed in order to operate an ongoing redemption program, the Trust currently has no intention of seeking regulatory approval from the SEC to operate an ongoing redemption program.
Source: Redemption Procedures on page 41 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
What is the fee structure? 
ETHE has an annual fee of 2.5%. GBTC has an annual fee of 2.0%. Fees are paid by selling the underlying ETH / BTC collateralizing the asset.
Source: ETHE’s informational page on Grayscale’s website - Located Here
Source: Description of Trust on page 31 & 32 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
What is the ratio of ETH to ETHE? 
At the time of posting (6/19/2020) each ETHE share is backed by .09391605 ETH. Each share of GBTC is backed by .00096038 BTC.
ETHE & GBTC’s specific information page on Grayscale’s website updates the ratio daily – Located Here
For a full historical look at this ratio, it can be found on the Grayscale home page on the upper right side if you go to Tax Documents > 2019 Tax Documents > Grayscale Ethereum Trust 2019 Tax Letter.
Why is the ratio not 1:1? Why is it always decreasing? 
While I cannot say for certain why the initial distribution was not a 1:1 backing, it is more than likely to keep the price down and allow more investors a chance to purchase ETHE / GBTC.
As noted above, fees are paid by selling off the ETH collateralizing ETHE. So this number will always be trending downward as time goes on.
Source: Description of Trust on page 32 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
I keep hearing about how this is locked supply… explain? 
As noted above, there is currently no redemption program for converting your ETHE back into ETH. This means that once an ETHE is issued, it will remain in circulation until a redemption program is formed --- something that doesn’t seem to be too urgent for the SEC or Grayscale at the moment. Tiny amounts will naturally be removed due to fees, but the bulk of the asset is in there for good.
Knowing that ETHE cannot be taken back and destroyed at this time, the ETH collateralizing it will not be removed from the wallet for the foreseeable future. While it is not fully locked in the sense of say a totally lost key, it is not coming out any time soon.
Per their annual statement:
The Trust’s ETH will be transferred out of the ETH Account only in the following circumstances: (i) transferred to pay the Sponsor’s Fee or any Additional Trust Expenses, (ii) distributed in connection with the redemption of Baskets (subject to the Trust’s obtaining regulatory approval from the SEC to operate an ongoing redemption program and the consent of the Sponsor), (iii) sold on an as-needed basis to pay Additional Trust Expenses or (iv) sold on behalf of the Trust in the event the Trust terminates and liquidates its assets or as otherwise required by law or regulation.
Source: Description of Trust on page 31 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
Grayscale now owns a huge chunk of both ETH and BTC’s supply… should we be worried about manipulation, a sell off to crash the market crash, a staking cartel? 
First, it’s important to remember Grayscale is a lot more akin to an exchange then say an investment firm. Grayscale is working on behalf of its investors to create this product for investor control. Grayscale doesn’t ‘control’ the ETH it holds any more then Coinbase ‘controls’ the ETH in its hot wallet. (Note: There are likely some varying levels of control, but specific to this topic Grayscale cannot simply sell [legally, at least] the ETH by their own decision in the same manner Coinbase wouldn't be able to either.)
That said, there shouldn’t be any worry in the short to medium time-frame. As noted above, Grayscale can’t really remove ETH other than for fees or termination of the product. At 2.5% a year, fees are noise in terms of volume. Grayscale seems to be the fastest growing product in the crypto space at the moment and termination of the product seems unlikely.
IF redemptions were to happen tomorrow, it’s extremely unlikely we would see a mass exodus out of the product to redeem for ETH. And even if there was incentive to get back to ETH, the premium makes it so that it would be much more cost effective to just sell your ETHE on the secondary market and buy ETH yourself. Remember, any redemption is up to the investors and NOT something Grayscale has direct control over.
Yes, but what about [insert criminal act here]… 
Alright, yes. Technically nothing is stopping Grayscale from selling all the ETH / BTC and running off to the Bahamas (Hawaii?). BUT there is no real reason for them to do so. Barry is an extremely public figure and it won’t be easy for him to get away with that. Grayscale’s Bitcoin Trust creates SEC reports weekly / bi-weekly and I’m sure given the sentiment towards crypto is being watched carefully. Plus, Grayscale is making tons of consistent revenue and thus has little to no incentive to give that up for a quick buck.
That’s a lot of ‘happy little feels’ Bob, is there even an independent audit or is this Tether 2.0? 
Actually yes, an independent auditor report can be found in their annual reports. It is clearly aimed more towards the financial side and I doubt the auditors are crypto savants, but it is at least one extra set of eyes. Auditors are Friedman LLP – Auditor since 2015.
Source: Independent Auditor Report starting on page 116 (of the PDF itself) of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
As mentioned by user TheCrpytosAndBloods (In Comments Below), a fun fact:
The company’s auditors Friedman LLP were also coincidentally TetheBitfinex’s auditors until They controversially parted ways in 2018 when the Tether controversy was at its height. I am not suggesting for one moment that there is anything shady about DCG - I just find it interesting it’s the same auditor.
“Grayscale sounds kind of lame” / “Not your keys not your crypto!” / “Why is anyone buying this, it sounds like a scam?” 
Welp, for starters this honestly is not really a product aimed at the people likely to be reading this post. To each their own, but do remember just because something provides no value to you doesn’t mean it can’t provide value to someone else. That said some of the advertised benefits are as follows:
So for example, I can set up an IRA at a brokerage account that has $0 trading fees. Then I can trade GBTC and ETHE all day without having to worry about tracking my taxes. All with the relative safety something like E-Trade provides over Binance.
As for how it benefits the everyday ETH holder? I think the supply lock is a positive. I also think this product exposes the Ethereum ecosystem to people who otherwise wouldn’t know about it.
Why is there a premium? Why is ETHE’s premium so insanely high compared to GBTC’s premium? 
There are a handful of theories of why a premium exists at all, some even mentioned in the annual report. The short list is as follows:
Why is ETHE’s so much higher the GBTC’s? Again, a few thoughts:

Are there any other differences between ETHE and GBTC? 
I touched on a few of the smaller differences, but one of the more interesting changes is GBTC is now a “SEC reporting company” as of January 2020. Which again goes beyond my scope of knowledge so I won’t comment on it too much… but the net result is GBTC is now putting out weekly / bi-weekly 8-K’s and annual 10-K’s. This means you can track GBTC that much easier at the moment as well as there is an extra layer of validity to the product IMO.
I’m looking for some statistics on ETHE… such as who is buying, how much is bought, etc? 
There is a great Q1 2020 report I recommend you give a read that has a lot of cool graphs and data on the product. It’s a little GBTC centric, but there is some ETHE data as well. It can be found here hidden within the 8-K filings.Q1 2020 is the 4/16/2020 8-K filing.
For those more into a GAAP style report see the 2019 annual 10-K of the same location.
Is Grayscale only just for BTC and ETH? 
No, there are other products as well. In terms of a secondary market product, ETCG is the Ethereum Classic version of ETHE. Fun Fact – ETCG was actually put out to the secondary market first. It also has a 3% fee tied to it where 1% of it goes to some type of ETC development fund.
In terms of institutional and accredited investors, there are a few ‘fan favorites’ such as Bitcoin Cash, Litcoin, Stellar, XRP, and Zcash. Something called Horizion (Backed by ZEN I guess? Idk to be honest what that is…). And a diversified Mutual Fund type fund that has a little bit of all of those. None of these products are available on the secondary market.
Are there alternatives to Grayscale? 
I know they exist, but I don’t follow them. I’ll leave this as a “to be edited” section and will add as others comment on what they know.
Per user Over-analyser (in comments below):
Coinshares (Formerly XBT provider) are the only similar product I know of. BTC, ETH, XRP and LTC as Exchange Traded Notes (ETN).
It looks like they are fully backed with the underlying crypto (no premium).
https://coinshares.com/etps/xbt-provideinvestor-resources/daily-hedging-position
Denominated in SEK and EUR. Certainly available in some UK pensions (SIPP).
As asked by pegcity - Okay so I was under the impression you can just give them your own ETH and get ETHE, but do you get 11 ETHE per ETH or do you get the market value of ETH in USD worth of ETHE? 
I have always understood that the ETHE issued directly through Grayscale is issued without the premium. As in, if I were to trade 1 ETH for ETHE I would get 11, not say only 2 or 3 because the secondary market premium is so high. And if I were paying cash only I would be paying the price to buy 1 ETH to get my 11 ETHE. Per page 39 of their annual statement, it reads as follows:
The Trust will issue Shares to Authorized Participants from time to time, but only in one or more Baskets (with a Basket being a block of 100 Shares). The Trust will not issue fractions of a Basket. The creation (and, should the Trust commence a redemption program, redemption) of Baskets will be made only in exchange for the delivery to the Trust, or the distribution by the Trust, of the number of whole and fractional ETH represented by each Basket being created (or, should the Trust commence a redemption program, redeemed), which is determined by dividing (x) the number of ETH owned by the Trust at 4:00 p.m., New York time, on the trade date of a creation or redemption order, after deducting the number of ETH representing the U.S. dollar value of accrued but unpaid fees and expenses of the Trust (converted using the ETH Index Price at such time, and carried to the eighth decimal place), by (y) the number of Shares outstanding at such time (with the quotient so obtained calculated to one one-hundred-millionth of one ETH (i.e., carried to the eighth decimal place)), and multiplying such quotient by 100 (the “Basket ETH Amount”). All questions as to the calculation of the Basket ETH Amount will be conclusively determined by the Sponsor and will be final and binding on all persons interested in the Trust. The Basket ETH Amount multiplied by the number of Baskets being created or redeemed is the “Total Basket ETH Amount.” The number of ETH represented by a Share will gradually decrease over time as the Trust’s ETH are used to pay the Trust’s expenses. Each Share represented approximately 0.0950 ETH and 0.0974 ETH as of December 31, 2019 and 2018, respectively.

submitted by Bob-Rossi to ethfinance [link] [comments]

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