Transmission 48 – LZF.COM and Incentivized Trading

This week, Theo talks with LZF (formerly PSCOIN) a new crypto exchange that uses a different model than traditional exchanges.

Instead of simple limit orders that can be retracted at any time, at LZF.COM you have to pay a royalty to place a limit order, and this order collects royalties depending on the stake of the order. The stake is roughly the size of the order times the price of the order.

Incentivize Trading

The longer the order is on the books, the more royalties it collects. If someone cancels an order, then they lose the royalties that go with that order, and they are given to the other orders on that side of the trade – buy or sell. Sound confusing?

The reason it might sound confusing is that this a different way to trade. In most cases at exchanges you can place a limit order and retract it at anytime before it is filled. There is no incentive to place a limit order and keep it on the books. This is what LZF is trying to do, incentivize a trading behavior.

“I started thinking about how could you put the incentives on the market to get exactly the kind of behavior that you want that constitutes healthy behavior in a market.”

The exchange also uses PS KEY for security. PS KEY is not only a decentralized 2FA but a way of using a blockchain to manage online identities. If you want to place a limit order and hold it for a while, then LZF sounds like a good place to do it.

Transmission is a weekly podcast featuring bitcoin, altcoins, and blockchain technology broadcasting live every Sunday at 3PM EST. The Spice Must Flow.

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Transmission 48 – LZF.COM and Incentivized Trading

This week, Theo talks with LZF (formerly PSCOIN) a new crypto exchange that uses a different model than traditional exchanges.

Instead of simple limit orders that can be retracted at any time, at LZF.COM you have to pay a royalty to place a limit order, and this order collects royalties depending on the stake of the order. The stake is roughly the size of the order times the price of the order.

Incentivize Trading

The longer the order is on the books, the more royalties it collects. If someone cancels an order, then they lose the royalties that go with that order, and they are given to the other orders on that side of the trade – buy or sell. Sound confusing?

The reason it might sound confusing is that this a different way to trade. In most cases at exchanges you can place a limit order and retract it at anytime before it is filled. There is no incentive to place a limit order and keep it on the books. This is what LZF is trying to do, incentivize a trading behavior.

“I started thinking about how could you put the incentives on the market to get exactly the kind of behavior that you want that constitutes healthy behavior in a market.”

The exchange also uses PS KEY for security. PS KEY is not only a decentralized 2FA but a way of using a blockchain to manage online identities. If you want to place a limit order and hold it for a while, then LZF sounds like a good place to do it.

Transmission is a weekly podcast featuring bitcoin, altcoins, and blockchain technology broadcasting live every Sunday at 3PM EST. The Spice Must Flow.

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Bitcoin-to-Bullion Retailer Amagi Metals purchased by Anthem Vault

Anthem Vault has announced the acquisition of Amagi Metals. Amagi Metals is a Bitcoin-to-bullion precious metal dealer and with this deal the company is hoping to gain more ground in this growing market.

Anthem Blanchard, founder and CEO of Anthem Vault also outlined that “our goal is to provide the precious metals community with a trusted way to accumulate gold and silver.”

He further explained the goal of the company by saying that “when customers find their gold and silver stacks too precious to be held in their own home, we can take on the storage and security at Anthem Vault. Amagi Metals ships quality silver and gold straight to the customer. These may include special years of Gold Eagles and Morgan Dollars as well as popular silver bullion; There is something for everyone.”

The company feels that clubbing Anthem Vault‘s high-security storage options with Amagi Metals’ crypto-friendly business model, will help it in providing their clientele with a one-stop shop for all precious metal requirements.

Meanwhile, it has been decided that AmagiMetals.com will continue to host all Bitcoin payments and will continue to sell gold and silver.

In case of queries or doubts, the consumers have been requested to contact by either calling 1-855-4-AVAULT or by emailing consumer support@amagimetals.com.

Amagi Metals is a global precious metals dealer with its base in Denver and it claims to focus on quality gold and silver bullion, Anthem Vault, on the other hand, claims to provide world-class and fully insured storage for the precious metals.

Anthem Vault is a Las Vegas-based company, founded in 2011, and it also says that it strives to offer renowned gold and silver bars globally recognized by LMBA-approved refiners.

Earlier, Anthem Vault was in the news when it had come to light that it was planning to launch a gold-backed crypto-coin, the HayekCoin in May this year.

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Bitcoin-to-Bullion Retailer Amagi Metals purchased by Anthem Vault

Anthem Vault has announced the acquisition of Amagi Metals. Amagi Metals is a Bitcoin-to-bullion precious metal dealer and with this deal the company is hoping to gain more ground in this growing market.

Anthem Blanchard, founder and CEO of Anthem Vault also outlined that “our goal is to provide the precious metals community with a trusted way to accumulate gold and silver.”

He further explained the goal of the company by saying that “when customers find their gold and silver stacks too precious to be held in their own home, we can take on the storage and security at Anthem Vault. Amagi Metals ships quality silver and gold straight to the customer. These may include special years of Gold Eagles and Morgan Dollars as well as popular silver bullion; There is something for everyone.”

The company feels that clubbing Anthem Vault‘s high-security storage options with Amagi Metals’ crypto-friendly business model, will help it in providing their clientele with a one-stop shop for all precious metal requirements.

Meanwhile, it has been decided that AmagiMetals.com will continue to host all Bitcoin payments and will continue to sell gold and silver.

In case of queries or doubts, the consumers have been requested to contact by either calling 1-855-4-AVAULT or by emailing consumer support@amagimetals.com.

Amagi Metals is a global precious metals dealer with its base in Denver and it claims to focus on quality gold and silver bullion, Anthem Vault, on the other hand, claims to provide world-class and fully insured storage for the precious metals.

Anthem Vault is a Las Vegas-based company, founded in 2011, and it also says that it strives to offer renowned gold and silver bars globally recognized by LMBA-approved refiners.

Earlier, Anthem Vault was in the news when it had come to light that it was planning to launch a gold-backed crypto-coin, the HayekCoin in May this year.

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Vietnamese Exchange VBTC Opens Its Doors Again

Bitcoin Vietnam, a Vietnamese startup founded in 2013, announced two days ago the re-opening on VBTC. The exchange previously operated during a few months starting from July 2014 but had to close its doors temporarily.

“VBTC will allow us to handle Bitcoin remittance services towards Vietnam in a very fast and price­competitive way. In an ideal setup it will take you less than one hour to send funds to your beloved ones in Vietnam ­ from sending the Bitcoins to us until the recipient in Vietnam holds the cash in his hands. This is already possible today.”

Dominik Weil, Co-Founder of Bitcoin Vietnam.

The Vietnamese market is especially ripe when it comes to remittances — they’re ranked as one of the top-ten countries in the world in remittance value —, with Bitcoin Vietnam’s base city of Ho Chi Minh receiving over $1.4 billion just during the first quarter of 2015.

Nguyen Tran Bao Phuong, CEO of Bitcoin Vietnam, has a very positive outlook regarding the future of crypto currencies in the country. With over 70% of Vietnam’s population being unbanked, he’s hoping the country’s youth will leap right over traditional banking solutions and adopt crypto currencies. To this effect, VBTC boasts over 9,200 locations all around the country where people can deposit or withdraw cash from their accounts.

VBTC was re-launched with the help of BitGo and BlinkTrade. Rodrigo Souza, Co-Founder of BlinkTrade, spoke about his company’s experience when it comes to remittances and dealing with complicated banking regulations (they operate one of two Bitcoin exchanges available in Venezuela):

“BlinkTrade is building a network of bitcoin exchanges across the globe, with presence currently in Brazil, Venezuela, Chile, Pakistan and now Vietnam. We are connecting Remittance companies in the USA with exchanges in the Blinktrade Bitcoin Exchanges network; aiming to reduce costs of remittances while increase the speed of settlement.”

The re-built exchange supports multi-signature wallets and also provides traditional insurance to its users.

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Vietnamese Exchange VBTC Opens Its Doors Again

Bitcoin Vietnam, a Vietnamese startup founded in 2013, announced two days ago the re-opening on VBTC. The exchange previously operated during a few months starting from July 2014 but had to close its doors temporarily.

“VBTC will allow us to handle Bitcoin remittance services towards Vietnam in a very fast and price­competitive way. In an ideal setup it will take you less than one hour to send funds to your beloved ones in Vietnam ­ from sending the Bitcoins to us until the recipient in Vietnam holds the cash in his hands. This is already possible today.”

Dominik Weil, Co-Founder of Bitcoin Vietnam.

The Vietnamese market is especially ripe when it comes to remittances — they’re ranked as one of the top-ten countries in the world in remittance value —, with Bitcoin Vietnam’s base city of Ho Chi Minh receiving over $1.4 billion just during the first quarter of 2015.

Nguyen Tran Bao Phuong, CEO of Bitcoin Vietnam, has a very positive outlook regarding the future of crypto currencies in the country. With over 70% of Vietnam’s population being unbanked, he’s hoping the country’s youth will leap right over traditional banking solutions and adopt crypto currencies. To this effect, VBTC boasts over 9,200 locations all around the country where people can deposit or withdraw cash from their accounts.

VBTC was re-launched with the help of BitGo and BlinkTrade. Rodrigo Souza, Co-Founder of BlinkTrade, spoke about his company’s experience when it comes to remittances and dealing with complicated banking regulations (they operate one of two Bitcoin exchanges available in Venezuela):

“BlinkTrade is building a network of bitcoin exchanges across the globe, with presence currently in Brazil, Venezuela, Chile, Pakistan and now Vietnam. We are connecting Remittance companies in the USA with exchanges in the Blinktrade Bitcoin Exchanges network; aiming to reduce costs of remittances while increase the speed of settlement.”

The re-built exchange supports multi-signature wallets and also provides traditional insurance to its users.

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ProTip Ventures into Bitcoin Micropayments for Online Tipping

A number of companies have been looking into bitcoin micropayments as a means for funneling donations or tips online. After all, the cryptocurrency promises lower transactions costs compared to traditional payment methods such as credit cards or PayPal.

Online tipping can be made to express appreciation for an artist’s work on the internet, such as a good music album or digital art piece. The problem, however, is that users encounter friction when it comes to managing several individual bitcoin tipping methods.

ProTip Bitcoin Micropayments

For ProTip developers Leo Campbell and Chris Ellis, this problem can be addressed through the use of an open source Chrome browser plugin that can allow users to send out online tips in a batch run. In doing so, they are also able to bypass the common issue of merchant adoption, which is considered one of the biggest roadblocks to bitcoin payments acceptance.

With that, ProTip users can be able to send tips through any platform, such asYouTube, Soundcloud, WordPress, Tumblr, Twitter, Deviant Art, and Flickr. ProTip comes with a built-in bitcoin wallet that allows the user to set a schedule for paying out his or her favorite websites in bulk at a particular time.

The plugin automatically adds the bitcoin addresses from pages to a list. Users then have control over how much they want to send to each site and can also make use of the ignore filter that stops the app from collecting certain bitcoin addresses or any address from specific websites.

In addition, users can be able to view how long they’ve spent on each site, possibly gauging how much they can tip based on this time. The app can also be used to set reminders, plan tipping budgets, switch from automatic to manual mode, and allow for small tipping amounts to be made.

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ProTip Ventures into Bitcoin Micropayments for Online Tipping

A number of companies have been looking into bitcoin micropayments as a means for funneling donations or tips online. After all, the cryptocurrency promises lower transactions costs compared to traditional payment methods such as credit cards or PayPal.

Online tipping can be made to express appreciation for an artist’s work on the internet, such as a good music album or digital art piece. The problem, however, is that users encounter friction when it comes to managing several individual bitcoin tipping methods.

ProTip Bitcoin Micropayments

For ProTip developers Leo Campbell and Chris Ellis, this problem can be addressed through the use of an open source Chrome browser plugin that can allow users to send out online tips in a batch run. In doing so, they are also able to bypass the common issue of merchant adoption, which is considered one of the biggest roadblocks to bitcoin payments acceptance.

With that, ProTip users can be able to send tips through any platform, such asYouTube, Soundcloud, WordPress, Tumblr, Twitter, Deviant Art, and Flickr. ProTip comes with a built-in bitcoin wallet that allows the user to set a schedule for paying out his or her favorite websites in bulk at a particular time.

The plugin automatically adds the bitcoin addresses from pages to a list. Users then have control over how much they want to send to each site and can also make use of the ignore filter that stops the app from collecting certain bitcoin addresses or any address from specific websites.

In addition, users can be able to view how long they’ve spent on each site, possibly gauging how much they can tip based on this time. The app can also be used to set reminders, plan tipping budgets, switch from automatic to manual mode, and allow for small tipping amounts to be made.

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Bitcoin Price Range Widens; Intra range in play

In our intraday bitcoin trading over the last few weeks, we have outlined our ranges as being pretty tight. However, over the last few days, despite a few swift moves during the Asian sessios, the bitcoin price has remained pretty restricted within a five or six dollars range. As a result, we are going to tighten things up a little bit during this evening session, and try and bring an intra-range strategy into play. With this said, take a look at the chart below, and get an idea of the key levels we are watching as we head into tonight’s Asian session.

As you see, in term support sits at 227.984 tight session, while in term resistance sits at 232.97 will stop with about five dollars range between the two parameters, we got enough to bring our intra-range strategy into the picture if action in the bitcoin price allows it. We’re currently trading just shy of resistance, so we will look for a correction from resistance to put us into a short trade towards in term support at 227.98. On this trade, a stop loss somewhere around 233.5 will keep things attractive from a risk management perspective.

Looking the other way, if we run down towards in term support, we will look for a bounce from this level to put us long towards in term resistance. Once again, a stop loss is necessary, so somewhere around 226 should do the trick.

If we manage to break out of the range, a close above 232.97 would put us long towards 235 flat, while a breakdown and a close below 227.98 would put us short towards a longer-term target of 223.08. Both these trade, a stop loss one or two dollars just the other side of our entry will ensure we are going into the trade with a positive risk reward profile.

Charts courtesy of Trading View

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Bitcoin Price Range Widens; Intra range in play

In our intraday bitcoin trading over the last few weeks, we have outlined our ranges as being pretty tight. However, over the last few days, despite a few swift moves during the Asian sessios, the bitcoin price has remained pretty restricted within a five or six dollars range. As a result, we are going to tighten things up a little bit during this evening session, and try and bring an intra-range strategy into play. With this said, take a look at the chart below, and get an idea of the key levels we are watching as we head into tonight’s Asian session.

As you see, in term support sits at 227.984 tight session, while in term resistance sits at 232.97 will stop with about five dollars range between the two parameters, we got enough to bring our intra-range strategy into the picture if action in the bitcoin price allows it. We’re currently trading just shy of resistance, so we will look for a correction from resistance to put us into a short trade towards in term support at 227.98. On this trade, a stop loss somewhere around 233.5 will keep things attractive from a risk management perspective.

Looking the other way, if we run down towards in term support, we will look for a bounce from this level to put us long towards in term resistance. Once again, a stop loss is necessary, so somewhere around 226 should do the trick.

If we manage to break out of the range, a close above 232.97 would put us long towards 235 flat, while a breakdown and a close below 227.98 would put us short towards a longer-term target of 223.08. Both these trade, a stop loss one or two dollars just the other side of our entry will ensure we are going into the trade with a positive risk reward profile.

Charts courtesy of Trading View

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