Does high velocity mean high prices for Bitcoin ...

Crypto ‘Exchange of Exchanges’ ShortHop Expands to 7 US States

Crypto ‘Exchange of Exchanges’ ShortHop Expands to 7 US States
ShortHop, an “exchange of exchanges” for cryptocurrency trading, has launched in seven additional U.S. states.
Revealed exclusively to CoinDesk, the exchange and brokerage has opened for business in Indiana, Massachusetts, Nevada, New Jersey, Rhode Island, Arizona and Montana. The Wilmington, Del.-based ShortHop was already live in California, Washington and Illinois.
While the exchange’s parent company, technology provider Velocity Markets, is registered as a money services business (MSB) with the Financial Crimes Enforcement Network (FinCEN), ShortHop had to apply for money transmitter licenses in each state where it does business. The company also expects to be licensed in Utah and Pennsylvania next week.
As a “spot fill market,” ShortHop allows customers to transact digital asset listings from multiple order books on one screen in addition to its own orders to provide customers with the lowest price, said Velocity Markets CEO Jonathan Kelfer.
“You might find that when you go on Binance, the spot price for bitcoin is the quoted price. When you go on Gemini it’s the quoted price there as well,” Kelfer said, by way of example. “We’ll use that in aggregate to get the best price across the ecosystem.”
In this way, the company’s model resembles those of Voyager and Fidelity Digital Asset Services, both of which act as brokers, helping customers find the best deals in a highly fragmented market. The difference is that ShortHop also has its own exchange.
“ShortHop is a spot market first, but we’re aggregating liquidity across the ecosystem,” Kelfer said, adding that the service is currently plugged into a total of eight exchanges and OTC desks.
ShortHop’s organic orders get treated like any other order on the marketplace, but “the more orders, the better the price,” Kelfer said.

Skipping between assets

Kelfer founded the company in the early part of the initial coin offering (ICO) boom, seeing a need for reliable American exchanges.
“It was my perspective that there wasn’t a U.S.-based presence where people could reliably base these assets,” Kelfer said. “You really had to get on some Chinese exchange, because U.S. exchanges weren’t listing most of these tokens.”
Currently, ShortHop just lists a few major cryptocurrencies. Users can acquire and trade bitcoin, ether, litecoin, bitcoin cash, XRP and Stellar lumens (XLM). ShortHop also allows customers to “hop” between these assets without having to go through multiple conversions on different exchanges. Its technology accomplishes this by cross ordering books to create synthetic pairs.
Velocity Markets is also building a digital securities exchange. It owns a broker-dealer under the legal name Distributed Technology Markets that has an alternative trading system form on file at the U.S. Securities and Exchange Commission. The company will be using the broker-dealer license to enable the digital securities exchange, but the company would not disclose when it plans to launch.
Right now, new users on ShortHop’s platform receive $25 worth of bitcoin for signing up. The platform at the moment is feeless, and Kelfer plans to subsidize retail users by offering a plug-in service to institutions who want to connect to the exchange’s capabilities.
“We’d rather do this than nickel-and-dime retail users who should have access to the same quality of infrastructure that large players do,” Kelfer said. “That’s not to say we won’t layer on fees in the future.”
Jonathan Kelfer image via Velocity Markets
submitted by GTE_IO to u/GTE_IO [link] [comments]

Neblio: Ahead of Roadmap and a Blockbuster Breakout in 2018

Neblio is a Proof of Stake (PoS) Blockchain as a Service (BaaS) platform designed and developed to provide enterprise solutions, which uses the Neblio token, NEBL. The Neblio blockchain is a fork of Novacoin, an older coin with origins in 2013, using the Script algorithm. The Neblio team is focused on simplicity within business adoption, starting with RESTful API integration. The Neblio APIs can be used to build applications, or integrated with existing ones, that interact with the Nebio blockchain by storing and accessing transactions and information.
Focus on Simplicity
The Nebio team's focus on simplicity is evident in their development to date. Neblio's Docker setup can be completed in less than one minute, and the Neblio Raspberry Pi wallet can be installed using a single command. Neblio offers an optional bootstrap of their blockchain, called QuickSync, which greatly reduces the time required to setup nodes. Every 24 hours, a compressed snapshot of the Neblio blockchain is uploaded to the team's Github, which is as secure as downloading the entire blockchain via network peers. In the event that blocks were modified by a bad actor, new blocks would be rejected and wouldn't be added onto the chain, resulting in no impact to Neblio's network security. QuickSync can greatly reduce the amount of time required to set up multiple Neblio nodes, as the blockchain would only be required to be downloaded once, rather than once per node. A Bootstrapped wallet setup is an established technology previously used, most notably, with Bitcoin.
Accelerated Roadmap Development
The Neblio roadmap is lofty, desiring to be a blockchain for "worldwide opportunities" and "bring blockchain to the mainstream". Their wide scope is tempered by a narrow focus -- on simplicity. The team is executing quickly, with little hype, and is AHEAD of their roadmap. They have completed multiple wallets, including Windows/MacOS/Linux staking core wallets,and the non-staking Electrum wallets. Coupled with Docker, and the low-energy Raspberry Pi staking wallet, Neblio offers a wide variety of wallet support for their blockchain. Recently, the Neblio team has announced the first API call on the Neblio blockchain, which was expected to occur in 1Q2018. Despite being early in the API development phase, the team once again demonstrated an aggressive attack on the roadmap, establishing confidence that they'll meet, and again succeed, their projected milestone date. Neblio will develop their open-source APIs in multiple languages, including Python, Go, JavaScript, Ruby, .NET, Java, and Node.js. One thing that is most impressive regarding the Neblio roadmap was the team's humble approach to improvement. Multiple instances in their roadmap reference iterative customer feedback and customer-driven design requirements. Additionally, Neblio makes mention in their roadmap of targeting small businesses, and not just Fortune 500 companies, which opens up a huge market that is often glossed over in cryptocurrency news articles. A market where, according to the US Government, small businesses make up 99.7% of United States employers, and almost half of private-sector output. The cryptocurrency market for platforms will not be limited to a single platform, as Ethereum, Lisk, Nem, NEO, EOS, Ardor, or Stratis will not meet the needs of every company looking for blockchain solutions. Marketing to potential clients will begin in 2Q2018, which will help to drive initial Neblio adoption. Execution will drive the long-term success in this space -- and the token price.
The Team
The Neblio team has experience with software development, with the co-founder and lead developer, Eddy Smith working for a Fortune 500 before his current role. The other founder, Ann has notable relevant experience in the space. In the ICO, the team opted not to set aside tokens for the team or future development, and purchased their own tokens to use instead, a decision that showed their dedication to the success of the project. All unsold tokens were burned. Additionally, the Neblio network was fully operational prior to the token sale date. NEBL tokens were immediately deposited to an address, at which point tokens could immediately be exchanged and staked. The Neblio team is growing, currently at four members, including a marketing advisor and developer. They are in a hiring process -- where they have been clear that they prize quality over quantity. The team is approachable, and are involved daily with the Neblio Slack.
Technical Discriminators
The Neblio network offers 10% yearly staking rewards. This is very good, especially considering traditional investments. The high reward locks up assets, encourages holding, and decreases token velocity which influences the long-term, realized, value of tokens. The 10% staking is a true technical and economic discriminator for the blockchain.
Neblio's scalable transactional throughput is ~20-35 Tx/sec, which is superior to Ethereum and Bitcoin.
And lastly, the narrow focus of completing the RESTful APIs allows the team to capitalize on doing a single thing well, reducing the risk (including development costs), while allowing for future expansion of their blockchain, like to sidechains or other developing technologies.
Token Mechanics
Neblio has a very low circulating and total supply, 12.6M and 13.3M, respectively. A large number of the tokenholders stake their tokens on the network, which further reduces liquidity and can result in high volatility and significant price fluctuations. However, this does add a significant upside to the existing price. For example, if Neblio had the market cap of Ardor, a token outside of the top 25, each Neblio token would be $70. It's been clear in the past year that platforms demand a premium, where most of the top tokens by marketcap are platforms, including Ethereum, Lisk, Nem, NEO, EOS, and Stratis. The highest volume of Neblio can be found on the Cryptopa exchange, with other markets found on Kucoin, HitBTC, and OEX. Neblio did very strongly in a Binance voting, and despite strong rumors, hasn't been listed there yet.
Neblio is set apart by their narrow focus to create a working product with simplicity as a design consideration from the beginning. Their small token supply and 10% staking rewards create a strong incentive for tokens to be accumulated, which can generate economic benefits for existing token holders. Neblio has multiple catalysts in 2018, which if successful, will propel this blockchain into the public eye.
Disclosure: I am/we are long NEBL, STRAT.
I wrote this post myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any coin/platform that is mentioned in this post.
submitted by XCBatman to CryptoCurrency [link] [comments]

RE: Coinbase Speculation - Comparing against the GDAX Framework

I've been seeing more talk about Request being a potential candidate for a Coinbase listing and just wanted to give my 2 cents on the situation.
Some have gone as far as to create a petition and post it on this reddit, as if that would even matter, however it should be obvious that Coinbase do not list based on user demand and petitions. Others want to shut-up speculation completely as it creates false expectations which are shattered should they not come true in the future, and the price would reflect that drastically. However I want to give this speculation a fair shot regardless, because at the very least I think it is fun, and I think Request will do well with or without a Coinbase listing.
So what is driving this all of a sudden? Well speculation seems to have recently arisen over the release of the following youtube video that has made several news sites:
Where in this video he states the following:
“The ones that are the most exciting to us that we have on the platform today are bitcoin, ethereum and litecoin, but there’s many more that are going to be added to the platform in 2018 and I think this is going to be a really exciting space for all kinds of institutional investors to make money.”
We have seen what normie money can do entering the market, BTC, LTC and ETH have all pumped drastically with all the extra media attention, they pump almost only because they are visible as one of 3 choices on Coinbase, the easiest fiat gateway to use to get into crypto. More and more news articles are coming up about people even going as far as to take out mortgages to buy into crypto, and we all want to see that sweet juicy spike on our portfolios.
So lets take it back a step, why would Request be worthy of the listing in the first place? So far we know there are plans to add "many more" coins to Coinbase, but what is the decision process? Sorry to break it to you, it isn't a petition, instead we were given this last month:
This is a framework, a list of requirements that the token/company must fulfill to be considered for the listing. So let's do a quick run down of the 6 major points (not going to cover it in detail against each sub-point, this would simply take too long) and whether or not Request meets this criteria:
1. GDAX Mission and Values - Pass!
Request solves the problem of invoicing and presents it in a user friendly manor, in addition its use cases include payment requests, auditing, IOT, acts as a payment gateway and provides currency agnostic transfers. It easily passes the whole criteria with flying colors.
2. Technology - Fail, but not for long!
The project is open source and well documented on their Github page. Their smart contract was peer reviewed by Quantstamp, who also provides the third party security audit requirement. The team not only met deadlines but they pulled them back even earlier! They interact with the community via Telegram, Slack and even provide us bi-weekly updates on their blog with great insight to the project. The road-map outlines and meets just about every criteria laid out here except for the presence of a test-net or main-net. So the only criteria they are missing here will actually be met within the next week or two! Which is great news.
3. Legal and Compliance - Pass!
The token is a utility token and not a security.
4. Market Supply - Fail!
We are in the top 100 of coin market caps, maybe soon to be top 50. There is a huge supply of 1 billion tokens, 650 million in circulation currently and an extra 350 million currently locked away, so the supply meets the demand. The Kyber partnership adds the trade velocity and liquidity needed to convert to another asset, but Kyber is not yet ready and neither are we integrated with them yet. We are listed on plenty of exchanges, Liqui, Kucoin, EtherDelta,, COSS, Mercatox, Decentrex, IDEX and Binance. However no fiat pairs exist yet, which is one of the criteria in this section (not sure how this would be repaired, it would actually need the Coinbase listing for this, chicken before the egg kind of scenario almost).
5. Market Demand - Pass!
Lot's of commits on Github, they have done plenty of Q+A's via the blog and have community managers on hand to answer questions in slack and telegram. Once again we receive the bi-weekly update which also provides us with valued feedback. They had a closed pre-sale stage so it is likely there are investments from firms/hedge funds present. Ycomb is likely one of these who also has experience working with crypto companies (they actually worked with Coinbase!). Market Cap has grown and we run on the ETH blockchain which is already listed on Coinbase so we meet blockchain based requirements automatically. We also have had a very large increase in token holders, especially given the recent pumps!
6. Crypto Economics - Pass!
Once again, a utility token, we are not a security. As a result we pass most of the criteria here automatically, especially by running on the ETH blockchain. Regarding the ICO requirement, Request passed, easily, as this was one of the best performed ICO's this year. The ownership stake is indeed a minority stake (350mil vs the current 650 mil in circulation) and is currently in a lock-up period. Whitelists were KYC based to ensure participation equality and the team once again provided plenty of transparency via their social media pages and blog. The tokens were distributed via smart contract and the security requirement was fulfilled by the Quantstamp audit to ensure against hacks, theft of funds and other vulnerabilities. In addition their slack had an anti-scam bot that prevented/limited the possibility of scams surfacing (especially important given that the whitelist was being on Slack in the first place).
Conclusion: I would say we are actually a likely contender once we achieve the main-net and Kyber is up and running along with integration. Connections with Y-Comb who also advised Coinbase could also be a cause for further speculation. Matter of fact due to how much criteria they meet in the framework (and at a very high, detailed level too) I would even suspect they have had knowledge of these requirements before the PDF was released to the public (maybe Y-Comb had a part in this too).
Equally I don't think it matters whether or not we are listed, the project will do well regardless. The team has also been outspoken about their belief in the future of DEX's and how they will ultimately win vs centralized exchanges, which is why I could also speculate that they also may not pursue a fiat gateway based listing. Once again this is all done because I was bored and just wanted to give my take on this recent discussion, let me know your thoughts!
submitted by MetallicMike27 to RequestNetwork [link] [comments]

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