Why Bitcoin is at (87,000$) PREMIUM Price in Nigeria🇳🇬
If you search for the price of bitcoin, you’ll probably notice that it varies depending on which platform you’re on. It will also change depending on the country you’re in – even after adjusting the local currency rate. For example, the price on your Luno app in Malaysia will be different to the price on your Luno app in the UK even if we’re comparing it pounds for pounds.
These variations in price will usually only be small, but in certain circumstances they may be far greater. In Nigeria, for example, bitcoin is currently trading at a premium of almost 20%. While the bitcoin price recently surged up to $60K across most of the world, in Nigeria it super-surged to $86K.
This is certainly unusual, but such strange behaviour is actually quite easy to understand when you know how the market works and what drives the price.
How the price of bitcoin is determined
Luno doesn’t set the price of bitcoin or any cryptocurrency – no cryptocurrency exchange does. All an exchange does is provide a platform to facilitate people buying and selling cryptocurrencies between themselves.
The price you pay, therefore, all comes down to supply and demand. If there are more people on a platform willing to sell bitcoin than there are to buy, the price will go down. If demand is higher than supply, the price will go up.
The total supply of bitcoin is fixed at 21 million and it is released at a consistent and known rate until it reaches that number. This is one of its main selling points. The supply will vary between exchanges, but the impact of that is usually fairly minimal on price. The big driver of price volatility will be swings in demand. These swings can be caused by a whole host of factors, from the introduction of new regulations to FOMO, and beyond.
Why the price can differ more between exchanges
Each exchange is essentially just its own unique marketplace where people who have bitcoin can sell to those who want it.
The price of bitcoin is therefore determined by what traders are willing to pay for it. The traders you find on each platform will be different, and will therefore set different prices. The price you see on Luno will subsequently not be the same as the one you see on another exchange, in the same way that if you go on eBay or Amazon and look for the latest iPhone, the prices will be slightly different.
In the same way that an iPhone will cost you roughly the same on Amazon and eBay though, market forces also mean that the price of bitcoin remains roughly similar between crypto exchanges. Traders can, after all, still see price movements on multiple platforms at once and move between them. There are correlations created by events such as arbitraging, for instance, whereby traders will buy bitcoin on one platform where it’s cheaper, then send it to another platform where it’s more expensive and sell it there. These usually keep the prices on exchanges broadly aligned.
The Central Bank of Nigeria’s (CBN) recent decision to ban financial institutions from working with cryptocurrency providers has changed this. In doing this, we can no longer work with our payment partners and therefore can't process deposits and withdrawals in Naira any more, effectively removing local currency on and off ramps. This has essentially broken the arbitrage loop and created market inefficiencies that have removed that correlation between the exchanges. They’re now operating completely independently of one another and you’ll find the price can differ significantly as a result.
Why price differs between countries
In the same way that the price of bitcoin will differ between platforms, so too will it differ between different countries.
Traders in each country have different wants and needs unique to the wider macroeconomic climate they find themselves in. Subsequently, demand for cryptocurrency will vary. To take Nigeria as an example, demand for bitcoin in the country has long been among the highest in the world. This is largely because Nigeria is an inflationary country, and citizens have turned to bitcoin to weather value drops in Naira and protect their wealth by harnessing the power of a global economy.
This has always led to Nigerians paying a small premium for bitcoin, so in some ways this recent premium is nothing new. However, the CBN’s decision has created new market inefficiencies that have caused even greater abnormalities in price.
This is because buyers’ money is now stuck on crypto platforms. Because withdrawals are no longer possible, the Naira that they currently have sitting on cryptocurrency platforms can either sit there to depreciate or it can be used to buy bitcoin or another cryptocurrency. Buying bitcoin is basically the only option for people looking to store their money, and the only means they have for sending money somewhere else. As a result, they’re willing to pay a higher price for it so they can use their capital. Sellers have a lot more power than is normal, so there’s an imbalance and they’re charging more.
Exchange rate issues
Due to the falling purchasing power of the Naira, on any given day, Nigeria has multiple exchange rates with the dollar. According to economist Koji Kubo, multiple exchange rates emerge within the unofficial market when governments implement “exhaustive exchange restrictions” or limitations on the amount of foreign currency that could be bought or sold.
This is true of Nigeria. In 2020, local media reported that Nigerian banks were limiting the amount of dollars Nigerians can spend abroad to as low as $500. At the same time, Nigeria’s also facing a US dollar shortage. Thanks to the scarcity of dollars that could not meet local demand, the value of the Naira fell in local informal markets as people showed willingness to pay more Naira per dollar.
This means NGN/USD exchange rates will also often vary wildly between platforms.
Liquidity and volatility
An abnormality that we have seen become more frequent since the CBN’s announcement is slippage.
When the CBN decided to prohibit local financial institutions from servicing crypto firms, it had a knock-on effect on liquidity.
Liquidity is an exchange’s ability to convert a crypto asset to cash or other cryptocurrencies without influencing the asset’s price too much. Luno’s order book (where bids and asks are recorded) is now significantly smaller than it was before and liquidity is lower. Marius Reitz, Luno’s General Manager for Africa, notes that while Luno still has liquidity, “it is a third of what it was previously”.
When an exchange has lower liquidity, it generally leads to higher slippage.
What’s slippage? A good question. As noted earlier, when you buy cryptocurrency on the Luno Exchange, you’re buying from another person or multiple people, and the amount of cryptocurrency available at a certain price is limited.
In a period of high volatility when prices are changing rapidly, in the time it takes your trade to fill, the bitcoin that you were trying to buy is more likely to get sold. This means your order will be filled with bitcoin that’s being sold at another price. The intended execution price and actual execution price will therefore differ.
Let’s look at an example.
A BTC/USD bid/ask is quoted at $50,000/$51,000 respectively.
A buy market order for 1 BTC is placed, with the intention the order gets filled at $51,000.
However there is only 0.5 BTC at $51,000 and 0.5 BTC at $52,000.
The order will then fill at an average of $51,500 – greater than the $51,000 best ask price.
Financial freedom leads to more efficient markets
It’s not a coincidence that countries with the highest BTC valuations consistently score lower on investment and financial freedom global rankings. Strict government controls create additional risks and costs for local currency conversion and remittance.
It’s therefore likely that Nigerians will continue to pay a premium for bitcoin until they make changes to the system and the market will continue to exhibit unusual behaviours. We are still in communication with the CBN though, and are hopeful that they will soon grant us access to our accounts to be able to payout Naira.
As soon as we are able to get access to our accounts, you will be able to withdraw. This should go some way to addressing inefficiencies in the market and ensure that Nigerians can trade more smoothly, without being subject to more volatility and paying a premium for their Bitcoin. In the meanwhile, rest assured that your funds are completely safe and we are on your side.
Balancer, a prominent Ethereum-based decentralized exchange platform, and one of DeFi’s largest automated market makers (AMMs), has released version 2 of its highly anticipated DEX upgrade.
Balancer is a prominent decentralized exchange that is designed to provide open, accessible alternatives to centralized exchanges by allowing anybody to trade Ether and ERC-20 assets.
Balancer is frequently used as a launchpad for new projects in what are known as Liquidity Bootstrapping Pools (LBPs). This allows new projects to easily distribute their tokens to a large number of initial holders while simultaneously discovering their fair market price quickly.
See what Balancer V2 brings to the table here: https://defirouter.com
What is CryptoTittiez? DApss Review
What is CryptoTittiez?
**CryptoTittiez is the most bizzare crypto collectible art game!** It allows you to collect and trade unique digital collectibles while portion from each transaction goes via smart contracts to support a non-profit organisation Loono focused on education in the area of cancer prevention.
**We want to raise awareness about health issues related to boobs**, mainly breast cancer prevention through funny, engaging and educative way. Our **Marketplace** is a wonderland, where you can explore tens of thousands unique CryptoTittiez of all kinds while celebrating women’s beauty! https://cryptotittiez.com/?utm_source=opera#/marketplace
**CryptoTittiez is digital collectibles game built on Ethereum** using **ERC-721** standard. This means that you can buy, trade and collect CryptoTittiez as any standard non-fungible tokens utilising all the infrastructure that is out there. http://erc721.org/
The project **started in late 2017** as just purely a fun activity. We were excited ― as many others ― about cryptocurrencies and we just wanted to contribute to the space with our bit. Later on we realized that it doesn't need to be just fun and that we can add another dimension to the whole thing. We had been following **Loono** for quite some time and we really loved the way they educate people about importance of prevention when it comes to breast cancer. https://cryptotittiez.com/?utm_source=opera#/loono/about
**We knew this could be a great match.** Connecting something cheeky, provocative, and cheesy like CryptoTittiez with such a noble charity organisation like Loono seemed like an unusual combination. We liked it. And we were really happy to found out that **Loono** liked the idea too, and agreed with our intention to support them with a portion of the revenue from every single transaction.
All the fund transfers are controlled by the smart contracts so you don't need to trust us that we send them all the money we are due, because it's all out there baked into a transparent and open-sourced ledger of Ethereum blockchain.
And so we have embarked on the road together with Loono to provoke, mock, irritate and educate at the same time! Perhaps the most excited person in all of this was our graphic designer ― Peter ― who had a chance to relentlessly stare at, draw and paint all kinds of women breasts for over a year and half and spent on it **more than 1500 hours****!** A very pleasant job indeed.
We really wanted to make sure that all tittiez are unique and placed in a beautiful environment of our marketplace.
Each Tittie is unique but some of them share certain parameters like background color, body type, skin color, or accessories with some others. This determines their rarity which you can see in the detailed view of each Tittie. We express rarity with three different items: **diamonds** ( **high** rarity), **golden bars** ( **medium** rarity), and **stars** ( **low** rarity).
Furthermore, within these three groups we express rarity by number of the items: one, two, or three. The more items means higher rarity. Therefore, we could conclude that we have 9 (3×3) rarity categories ranging from 3 diamonds, representing the highest rarity, to one star, representing the lowest rarity.
We really hope you will like our artwork and that you will enjoy **exploring all the hidden gems of our collection!** May you have a great time searching for the CryptoTittiez closest to your heart. If this app makes you laugh, and learn at least a little bit about your own body, or the body of your partner, then our goal is fulfilled. If it even sparkles your interest in cryptocurrencies and other decentralized technologies than there is nothing more we could wish for!
DeFibench
DeFirouter
DeFipulse
DeFirate
Respect Begins with Oneself🕴
Each of us has our particular way of coping with the world. Some of us are assertive – we take charge of situations, we make decisions, we exude self-confidence.
We expect to be listened to and respected, and we generally are.
In contrast, some of us can lack self-confidence and under-value ourselves.
This can negatively impact our ability to form relationships and engage effectively with others.
We can struggle to share and reflect on our emotions, we find it difficult to adapt to change, and feel ill-equipped to tackle our challenges. Simple strategies that can reinforce our sense of self, give us the courage to find our voices and earn us the respect of those around us, include the following:
• **Use body language** – Act as though you are confident, e.g. a positive posture
• **Speak positively and project confidence.** Don’t be boastful, but don’t diminish yourself with your words.
• **As far as possible**, surround yourself with people who are positive and supportive of your best interests.
• **Practise calm assertiveness**. Think about what you want to say and how you can speak with confidence. Practise your way to a more confident self. Picture yourself in the typical kinds of situations or conversations that make you feel undervalued and disrespected. Imagine how you’d like to respond if you were brave, confident and assertive. Then begin to use those responses in real situations. You might be tentative and anxious at first, but work towards that image of calm assertiveness that you’ve envisaged for yourself.
Digital Transformation Trend in Local Banking
Banks
We have no idea why there are physical banks, human tellers, or what we carry around as money. Do you? According to Brett King, the founder of Moven (**as reported by Eric Rosenbaum, 2015**):
The biggest banks in the world in 2025 will be technology companies, and banks that grew through branch acquisitions in the ‘80s and ‘90s that grew by physical bank presence, will have a real problem.
**The trends are clear:**
Since 2011, 700 million global consumers have begun banking on their phone. The U.S. bank branch model, which peaks at a total of roughly 95,000 branches, is now down to 86,000 branches.
Money is also disappearing. Way back in 2012, Jacey Fortin reported that:
In Sweden, monetary transactions made with physical cash are down to three percent of the national economy … in most Swedish cities, public buses don’t accept cash; tickets are prepaid or purchased with a cell phone text message, reports AP. A small but growing number of businesses only take cards, and some bank offices—which make money on electronic transactions—have stopped handling cash altogether. This looks like the beginning of a global trend; people everywhere are noticing that physical cash is becoming less and less common.
**Merryn Somerset Webb** reported that **Denmark** quickly followed:
The Danish government is concerned that cash puts too many “administrative and financial burdens” on shops and that it acts as a drag on GDP growth. So, as part of a wide group of proposals to boost economic growth, it is to allow shops to stop taking cash. This makes sense in all sorts of ways. As M&G’s Jim Leaviss points out, handling cash is expensive—you have to process it, give people change for it, provide security for it, take it to the bank, etc. Cash is also a bore for governments because it is the main facilitator of the black economy—anything paid for via the banking system can be taxed; anything paid for in cash can be missed. Plus, physical cash often means physical crime, so getting rid of cash could mean less crime and less tax evasion.
The U.S. lags but it’s only a matter of time and money, especially because of the control that cashless transactions provide governments and the financial gains banks accrue from closing their branches and going cashless.
Bitcoin As A Medium Of Exchange
Bitcoin As A Medium of Exchange
Because **bitcoin** has no intrinsic value, its worth ultimately hinges upon its usefulness as a currency in the consumer economy.
Evidence of bitcoin’s footprint in daily commerce is mostly anecdotal, consisting of newspaper stories about people living only by spending bitcoin or estimates of large numbers of businesses that are willing to accept bitcoin.
To date, only one established business of have begun to take bitcoin such as the online retailer Overstock.com.
Most of the rankings of the top merchants accepting bitcoins are dominated by computer software and hardware companies selling products narrowly focused on bitcoin applications, and by marketplaces or exchanges providing investor services to bitcoin speculators.
Realistic insight into the adoption of bitcoin can be obtained from data drawn from the universal ledger of bitcoin transactions. According to data available at numerous websites, the
A recent article estimated Overstock.com’s daily bitcoin revenue at about $30,000. See
http://techcrunch.com/2014/03/12/overstocks-bitcoin-purchases-account-for-less-than-1-of-revenue-but-its-growing/
The most widely cited ranking of the top bitcoin merchants appears to be “The Bitcoin Ladder,”
https://en.bitcoin.it/wiki/Bitcoin_Ladder, but it is badly out of date, as it ranks the defunct and notorious Mt. Gox and Silk Road as the top two worldwide merchants.
However, it is widely understood that most of these transactions involve transfers between speculative investors, and only a minority are used for purchases of goods and services.
For instance, **Fred Ersham**, co-founder of Coinbase, the leading digital wallet service, estimated in a March 2014 interview that 80% of activity on his site was related to speculation, down from perhaps 95% a year earlier (Goldman Sachs, 2014).
If we take this estimate as correct, then perhaps 15,000 bitcoin transactions per day involve the purchase of a product or service from a merchant.
a world with 7,000,000,000 consumers, most of whom make multiple economic transactions each day, bitcoin appears to have a extraordinarily negligible market presence.
Ersham further states in his interview that 24,000 merchants are registered with Coinbase.8
worldwide bitcoin commerce occurred within this group (almost certainly an exaggeration),
these businesses would average well below one transaction per merchant per day.
In other words, bitcoin transactions appear to be rarities, even for the small number of merchants that accept them.
One obstacle to bitcoin becoming a widely used medium of exchange arises from the difficulty of procuring new bitcoins. Unless a consumer is successful as a bitcoin miner (an activity now dominated by supercomputers requiring massive capital investments), he or she must source bitcoins from online exchanges or dealers and then find a way to store them securely.
These purchases typically cannot be made using a credit card or PayPal, and instead
If all
**See, for instance,** https://blockchain.info/charts/n-transactions.
The co-founder of bitcoin payment processor BitPay estimated the number of worldwide businesses at 26,000
in a separate interview given contemporaneously. See http://money.cnn.com/2014/03/17/smallbusiness/bitcoin-bitpay.
the buyer must make a bank transfer or link an existing bank account to the exchange.
The existing bitcoin exchanges are often have low liquidity, significant bid-ask spreads, and a certain amount of execution and custody risk.
Finally, one cannot bypass the requirement of possessing bitcoins before procuring goods and services from a merchant.
Being able to purchase goods without cash in hand occurs routinely in most retail markets, as customers frequently buy with consumer credit financed by the merchant or a third-party credit card vendor.
These options are not available for bitcoins, as no bitcoin-denominated credit cards have yet been issued and consumer loans denominated in bitcoin appear to be unheard-of.
Thank You for reading through...
Is Money the Same as Language?
Is Money the Same as Language?
Rather than making barter more effi cient and convenient, money makes exchange between a good and itself possible.
Money, while opening a door to market economy and with it a rich material civilization based on wide commodity trading, can also bring unwelcome phenomena like hyperinfl ation, bubbles, crises, and recession when they collapse. Like language, it is a double-edged sword.
Human beings can use their two feet to walk and also to run. We can now move around more smoothly and faster with machines such as automobiles or airplanes that we ourselves invented.
These vehicles are exactly effi cient tools enabling us to travel further and faster. Money, however, cannot be compared to these tools.
What then could money be like? The above passage was expressed in language: “money is not merely a convenient tool for effi cient exchange.” Do we use language just in order to communicate smoothly with others or to convey messages? Has there ever been a world where we didn’t need language for communication and then language was invented as a “tool” to overcome the small-scale or inconvenience of that world? It is obvious that we cannot explain what we want to say or to understand what other people want to say without using words. We often recognize differences2.4 The Principles of Generating Money 25
between how we ourselves and others think and feel by exchanging words. If we didn’t have words, our current civilization and diverse culture could not exist. At the same time, communication is an experiment carrying the risk of loss at
any time. Words do not necessarily make communications smooth. A little misunderstanding or disagreement can be easily solved with words. But we also know that a complicated emotional entanglement could get worse if we keep on speaking in a futile attempt to resolve it. A gap between people can easily become too wide for words alone to bridge.
It is not easy to accept or respect differences between ourselves. Opposite thoughts, beliefs, or world perspectives can often lead to breakup or violence. As a matter of fact, terrorism and war are continuing features of our world. Maybe it would be more appropriate to consider language as an essential “prerequisite” for communication to be possible, rather than a convenient “tool” for communication.
In the beginning was the word – it is words that differentiate Homo sapiens from apes or hominids.
For better or worse, we cannot live in this world without words.
A Real Market: What Is a “Distributed” Market?
A Real Market: What Is a “Distributed” Market?
Now let’s think how we can describe markets from the perspective of **“no money, no market.”**
We have said that a **“concentrated market”** in modern economics is a fi ction.
How then could we comprehend real markets as opposed to theirs? It is time to say what a distributed market is.
A market is a “place,” in a metaphorical sense, where we buy and sell goods with money.
It is not just about wholesale markets for fish or vegetables, a securities exchange, or a foreign exchange market; shopping malls, discount stores, vending machines, ticket vendors, money withdrawn from a bank account for a fee, mail order by catalog or television, online shopping or auction sites on the Internet, and joining a company as an employee, these are all markets.
We are not always aware of it, but the market exists everywhere around us. Some markets did not even exist decades ago, e.g., e-commerce markets such as mail orders via the Internet and net shopping. Japan’s Rakuten Market, operated by a well-known fi rm, and search portal sites, like Amazon.com and Yahoo! Shopping, look like a huge online mall or a large-scale e-commerce store. Amazon. com enjoys the largest domestic sales in the world with revenue of $7.8 billion in 2012.
Rakuten follows with revenues of 443 billion yen. Rakuten’s registered membership is 82 million people. Given that Japan’s population is 127 million, about two thirds of the nation has joined Rakuten.
Of course, foreigners, stores, and businesses might be counted in addition to individual citizens. Some may have plural accounts, so that the number needs to be reduced, but it’s a big number anyway.
One thing we need to point out here: Although numerous goods are traded on a single site in the e-commerce market, this is not a “concentrated market” with no money, where relative prices only work like parameters.
Rather, it is “**distributed market**,” a collection of individual trades by way of money.
It’s not just large shopping malls. There are many net mail order businesses and mom-and-pop stores. Those businesses are also basically distributed markets.
Religious And Psychological Functions Of Money
Religious and Psychological Functions of Money
**Money** is said to have various psychological or religious functions.
**One new religion told its followers that donations would expel the devil’s impurities.**
These donations, which could be as much as ten million dollar per person, are a kind of religious payment of our day. **Money** is one way of “purifying” through repayment of **social obligations**.
A book entitled **Living with Melancholia** written by a psychiatrist **Shintaro Shiba** says many Japanese “live with depression,” and this comes from a predisposition for melancholic depression to be “honest, precise, clean, serious, and hardworking.” It’s endemic to Japan. **Why is it so widespread?**
According to **Shiba**, the cause is found in the characteristic proportion of gift to exchange in Japan.
The weight of an “**exchange**” that compels a return for past gifts or favors – an aspect of “money” as a general name for exchangeable quantities – is much higher than a “gift” that keeps on giving without asking for any returns, an aspect of “things” as the proper name for unexchangeable qualities, in a Japanese community.
Under the circumstances, people constantly feel compelled to return the obligation called Giri . “ Giri ” is a Japanese moral duty linked to social indebtedness.
Although it is not that popular anymore, it is still a common practice in Japan for women to give an “ Giri chocolate” to their colleagues and seniors on a Valentine’s Day.
As a result of constantly feeling obliged to repay social debts, there are lots of people suffering from melancholic depression. If a new religion preached that debt feelings in such a endemic disease were impure because they arose from dealings with money, many people would be willing to contribute a large amount of money to escape from their mental sufferings. “Exchange,” in Shiba’s term, includes not only “markets” – buying and selling commodities by means of money – but also “reciprocity,” gift and return in a community, in other words, “mutual help” ( Yui ). However, throughout this book, the term “exchange” is used only to mean barter or monetary exchange, i.e., commodity trade. It is important to note the difference. In “reciprocity” when lending and borrowing takes place, someone who has received a gift continues to feel obliged until he gives back. In commodity trade using money, since the money and commodity are equivalent, the relationship between the seller and the buyer is simultaneous and instantaneous, leaving no room for credit or debt.
The relationship is completed with every commodity trade and both parties remain as separate individuals with no further relationship. The human relation in markets is a cash nexus, in which relations are separate and completed each time. In a reciprocal world, purgation function of money as expelling “impurities” is thus religiously and psychologically meaningful. In the world of markets, on the other hand, such a function of money is not necessary. Rather, money paid in compensation is needed to end reciprocal relations between lovers and married couples. We are now witnessing reduction of reciprocal relations caused by rapid expansion of the world of markets.
I understand modern globalization not just to be a quantitative (macroscopic) expansion of markets as networks of monetary trade. I believe it also includes the qualitative evolution of capitalism.
What I mean by this is that many individuals were once consumers who worked in factories and companies as laborers and wage earners, received wages, and bought necessities and luxuries. Under globalization, whether we are aware of it or not, everyone is not only a laborer and consumer, but is compelled to become an active investor or moneymaker. Over the past 20–30 years, globalization has reached all over Japan.
If the TPP (Trans-Pacifi c Partnership) is agreed, the tendency will become even stronger. Then the number of those suffering from melancholic depression as endemic of Japan may decrease, especially among the younger generation, much as the practice of giving Giri chocolate may disappear. **What would happen actually?**
Decentralized Finance Usability (DeFi)
Usability risk
Could DeFi be A risk, or better, a major weak point closely related to the **technical implementation**,
is the usability or user experience of DeFi protocols that are often complicated, unintuitive, and designed for crypto-native users.
**DeFi projects** have struggled to gain traction beyond those that are inherently familiar with **Ethereum**.
Many products require users to handle multiple tokens within their own, non-custodial wallets.
**Realistically**, it is still way too early for the mainstream audience to risk their money in this complicated and unchartered territory. Once the technical and regulatory risks are addressed, the UX of DeFi products will certainly be one of the top priorities for developers. Looking back to the mass adoption of the internet, where first applications were anything but »easy to use« compared to today’s social media platforms or intuitive brokerage services, one can be hopeful that DeFi will overcome this UX challenge.
Smart Contracts In Financial Application
Financial primitives: core financial functions coded into smart contracts
**Smart contracts** are very flexible and offer solutions for industries such as energy, logistics, healthcare, and in particular, the financial sector.
Here, smart contracts can enable simple functions such as payment (**stablecoin**) and credit (**lending/borrowing**), as well as more complex functions such as derivatives (**leverage, swaps**) and trading with crypto assets (**decentralized exchanges**) – fully automated and decentralized without any intermediaries.
Decentralized application that are based on a set of interacting smart contracts and serve these basic **financial functions** are referred to as financial primitives.
Already today, financial primitives can incorporate functions like payment, lending & borrowing, trading, wealth management, derivatives, insurance and probably many more.
While most of the **DeFi** applications are still analogous to existing financial products from the established financial world, one can expect entirely new DeFi use cases to emerge in the future.
In theory, everything that is programmable is imaginable.
Financial primitives are the backbone of DeFi.
A number of financial primitives build an ecosystem of interoperable services, i.e. the DeFi ecosystem.
**You can think of them as Lego bricks that can be plugged together with other Lego bricks as desired**.
How to earn Interest With Uniswap
**Uniswap** is a completely **decentralized exchange** for ETH and other tokens that are issued on the Ethereum blockchain, for example Compound’s COMP token.
**Uniswap provides two main use cases**:
users can provide liquidity for others who want to exchange tokens or they can exchange tokens against each other.
If you provide liquidity, you earn a commission fee of all trades being made by traders. **In the following we will take a closer look at the two use cases:**
**1.** **Bob** wants to provide liquidity for a so-called liquidity pool. First, he has to decide on a specific Ethereum-based token for which he wants to provide liquidity. **Bob** opts for the COMP token. If **Bob** now wants to provide COMP tokens worth 100 USD to the COMP liquidity pool, he must also provide ETH to the same amount, i.e. also ETH worth 100 USD. **Bob** would then have invested 200 USD.
All users who provide liquidity for his pool would then earn 0.3% of the commission fee on every trade that takes place in the ETH-COMP currency pair. How much Bob earns exactly on all commissions in the ETH-COMP pool depends on his share of the total ETH-COMP liquidity pool. Bob can withdraw his liquidity from the pool at any time.
**2**. Next, **Bob** would like to swap ETH for DAI. This is very simple: **Bob** selects the appropriate currency pair and is directly offered the price. With one click Bob exchanges the tokens, paying a commission fee of 0.3%.
He would pay twice the commission fee (0.6%) if he were to exchange DAI for COMP, because Uniswap performs two swaps in the background: first DAI for ETH, and then ETH for COMP.
Now, imagine that Bob accidentally enters 1,000 ETH instead of 1 ETH, and the price for the swap suddenly becomes much more expensive.
To understand why this is the case, we must to take a closer look into Uniswap’s pricing mechanism.
DeFi Asset Management Overview
**ASSET MANAGEMENT SECTION SUMMARY**
The development of the **asset management sector** is still in its early stage and is correlated with the growth of the broader DeFi industry.
Despite the strong growth such as **InstaDApp**, **Argent**, **Set Protocol** and **Melon Protocol** in H1 2020, asset management projects overall have not yet reached widespread usage.
However, the characteristics of asset management projects determine their necessity in the DeFi industry. In the future, with the development of the DeFi lending and trading market, users' demand for integrated solutions and asset management tools will inevitably become stronger.
Based on the analysis, TokenInsight Research predicts differentiated asset management protocols and tools will begin to surface in the market to capture DeFi market alpha in the near future.
https://read.cash/@Jesus
The DeFi space is gradually realising its unique value proposition.
The DeFi space is gradually realising its unique value proposition.
It is without a doubt that **DeFi** is still in the early stage where users still experience sufficient frictions in interacting with the DeFi applications.
However, the **DeFi** world is working together to grow and produce innovative solutions to reduce these user frictions and connecting the dots to form an integrate decentralized financial ecosystem with ample liquidity.
As we are building, learning and experimenting with the “**money legos**”, being an open, permissionless and interconnect financial ecosystem gives back significant power to the users, in the meantime, there are also significant risks associated with the DeFi space.
The oracle attacks, frontrunning, re-entry attacks, liquidity risk, and many more whether due to smart contract logical errors or poorly designed system mechanisms.
Users who wish to experience the DeFi world should at least aware and understand these potential risk factors before jumping straight to the DeFi bandwagon.
DeFi presents a significant innovation in the space, and the industry is still growing and learning from our traditional counterparts. TokenInsight Research believes the future of the DeFi space, its unique value proposition, strong growth potential and innovative concepts can drive the broader cryptocurrency market to another level.
At some point, **proof of stake**, **centralized finance** and **decentralized finance** will come together to form an enormous cryptocurrency financial ecosystem to achieve the potential of “money legos”.
Sophisticated derivatives products and instruments will be developed in the near future to add another layer of complexity in the already complex yet young financial ecosystem, driving innovation and experimenting various financial applications to achieve unimaginable future.
With the composability of decentralized finance, the untapped potential of building with the “money legos” is enormous.
We expect DeFi will grow in an exponential trend in the future with unprecedented liquidity to be presented in the space, combined with a concrete decentralized financial ecosystem to achieve mass adoption and bring decentralized finance to the world stage.
**Don’t trust, verify.**
Investment Advice From Experts On The Field
Investment Management
*Investors, who cannot or who will not take the trouble to comprehend the laws that govern stock transactions, must be content with a very moderate return. They may, if they choose, learn the character of the risks, and understand the conditions of success, by the exercise of ordinary intelligence. No Prospero’s wand is needed in order to avoid failure; but only common sense and common prudence, such as all may cultivate. On the other hand, there are no short and sure cuts to success.*
It does not come by wishing and waiting for it. The proper means must be used, likely opportunities turned to advantage, and a careful judgment must be exercised.
If it be thought that in one or two transactions offive or ten thousand each a great fortune will be instantly secured, there is certain to be a speedy process of disillusioning.
Neither can it be expected that every venture will prove lucrative.
“The best laid schemes o’ mice an’ men gang aft agley.” No mechanism is so automatically perfect in it working as to be free from all risk of friction.
It is the same with investments. However carefully made, it sometimes happens that unexpected complications arise, such as no foresight could have anticipated or guarded against..
Yet the law of averages is certain to operate, as is the case with accidents, with fires, and with every business.
—**William Hickman Smith Aubrey, Stock Exchange Investments: Their History; Practice; and Results, 4th ed.**
**(London: Simpkin, Marshall, Hamilton Kent & Co. Ltd., 1897), pp. 210–211**
Liquidity
LIQUIDITY
Liquidity reflects the ability of a company to meet its short-term obligations using those assets that are most readily converted into cash.
Assets that may be converted into cash in a short period of time are referred to as liquid assets; they are listed in financial statements as current assets. We often refer to current assets as working capital, because they represent the resources needed for the day-to-day operations of the company’s long-term capital investments.
Current assets are used to satisfy short-term obligations, or current liabilities. The amount by which current assets exceed current liabilities is referred to as the net working capital.
Checkout The New Apple Watch Series
**The Apple Watch Series 6 is the best smartwatch on the market, but it’s an iterative update over last year’s model and is best for new buyers or people coming from the Series 4 or earlier.**
**You can’t really think of a new Apple Watch model the same way you do a new iPhone.**
**Canalys expects just 150 million people will have smartwatches in 2020, which isn’t that many. But, despite the coronavirus, people are buying them.**
Are You An Employee Or Entrepreneur
Indie or Employee?
Ever wonder if you really are best suited as a full-time employee or if your true calling is to venture out on your own?
**Answer the following questions as Strongly Agree (SA), Neutral (N), or Strongly Disagree (SD), tally your score with the Scoring Key, and see where you stand. The answer might surprise you!**
1. I like focusing on only one aspect of a project.
2. I love having set work hours every day.
3. I like to take risks.
4. I like being given a list of tasks to accomplish.
5. I like creating task lists.
6. I do not enjoy delegating tasks.
7. I like being involved in one project at a time.
8. I am comfortable with public speaking.
9. People gravitate toward me.
10. I am a team player.
11. I like receiving a steady paycheck.
12. I like having a flexible schedule.
13. I have vast knowledge of my industry.
14. I’m constantly seeking advancement.
15. I would like to be promoted but I’m happy where I am.
16. I deserve to be promoted more than any of my contemporaries.
17. I am an excellent communicator.
Results in Descending Order 50 to 35: You are a valuable employee! You are doing a great job fulfilling your role as an employee and are right where you should be, which is providing a valuable service to your company. 45 to 15: You are a great employee with potential for advancement and leadership. 15 to -19: You are very well suited to lead others in your full-time employee environment and have a good chance at continuing to
Should you choose to venture out on your own, whether as an independent professional or the founder of a full-fledged animation studio, you must ooze entrepreneur and innovator traits from all your pores.
*The very same traits, mindset and determination that will make you a successful business owner are the same ones that are needed to make you a successful independent professional.*
On the other hand, if you are perfectly content (if not thrilled) to remain an employee for the remainder of your career, you should still
18. I finish all of my tasks, no matter what.
19. I’m constantly looking for patterns.
20. I enjoy carefully following each step in an already established process.
21. I like to come up with my own processes.
22. I don’t take very many notes.
23. The unknown excites me.
24. I am good at troubleshooting problems.
25. I try to troubleshoot things in advance before a problem presents itself.
26. I always try to make things better.
27. I always want more.
28. I am mainly technical.
29. I am mainly creative.
30. I see things in black and white.
31. I see things differently than most people.
32. I’m not very good at reading people.
33. I like to collaborate.
34. I like to work on my own.
35. I like to view an idea from many different perspectives.
36. I feel the need to control everything I can.
37. I tend to be a conventional thinker.
38. I am extremely curious.
39. I often get absorbed in projects and lose track of time.
40. I am relentless.
41. I enjoy a microcosmic view of things.
42. I am courageous.
43. I work on things until they are perfect, even if it takes all night.
44. I am highly reflective and like to review the day and my own thoughts.
45. I do not like to teach others.
46. I like to learn.
47. I am an optimist.
48. I have a tireless work ethic.
49. I am a team player.
50. I enjoy seeing the big picture.
#bitcoin #love #crypto #startup
Earn Money: Welcomes New Moderators 🍾
"Earn Money" is no doubt one of the most influential Community on the Read.cash Platform.
And to day we are proud to announce our new team members, Who have been trained and assesed to uphold the **Communities rules and standards**.
**Yayaya13** has been part of the community since it's birth and have also joined in top issue discussions. She writes about her passions and her cryptocurrency Journey check her Out. @Yayaya13
**Meta-comic** as we all know has a Strange name but also posses a cult following on read.cash, He has been a member not quite long but his input is appreciated, Which is why He fits the spot he is Given.. @Meta_comic
Together We add value to Read.cash, In a thourough Moderated Manner...
https://read.cash/@Jesus
Promotion NOTICE: Community Moderator Needed !
HEY WRITTERS
Once again
It's Jesus
I have been blessed greatly by the Founders and those who brought read.cash to life, And i must admit as taunting as it is i can't provide **Value** on this platform forever.
**I believe in growth and the communities i have established on this platform has Shown Progress.**
Which is why i have decided to hand over one of the **Top largest Community** to an aspiring writter who i can Confide,
Who can uphold the community rules and moderate it in Fairness..... HERE IS "**EARN MONEY COMMUNITY**"
The community is 1 on the largest community on the platform with members reaching **1000** subscribers and Fast growing.
I pray i find the one who will take my place🙏
**Steps To Claiming**
Write a short essay on what you think the community is about and how you intend to Handle the Responsibility.
Tag me @Jesus
Add links of your writtings in your post..
**Note**: All articles get
Wishing you the best up until 16 September..
One Word Story
The One-Word Story is one of the simplest of all improv exercises, and very useful for teaching the importance of staying in the moment.
Here, a group of players (usually six to eight) build a story one word at a time.
The basic method sees the actors line up on stage and, beginning at one end, each speaking one word, forming sentences and telling a story.
This is quite easy to do, assuming the players don't try to plan ahead, but more difficult to do smoothly and well.
The words should come quickly, practically without thinking (though of course they should be sensible, coherent sentences), but the group should make it sound as if one person is telling a story at a normal, conversational pace.
**One of the best ways to achieve this is by listening — paying attention to what is going on at the moment.**
It's impossible to think about what to say in advance, because one player can Completely change direction, and a player who thinks Baking only delays the story.
The response should be reflexive rather than a carefully chosen word (this is in sharp contrast to scenes, where each response is slowly and carefully considered).
The word "and" should also be avoided, and players must strive to sound like one voice. As the group becomes more comfortable with the game, there are other devices to enhance its value.
One variation has any player who delays in responding to step out of the group, eliminating the slower players one by one, as in a spelling bee; this teaches the group to keep up the pace. Naturally, inappropriate responses also cause players to lose (when played in front of a group or an audience, good-natured jeering often results). When a player fails, he is often forced to stage his own death before the audience and his teammates, preferably in some manner that reflects the story at that point. Another technique, particularly used in a performance (or as an opening exercise) utilizes a theme, a title, or an audience suggestion for the story.
Why do they say ‘Amen’ at the end of a prayer instead of ‘Awomen’?
Same reason we sing Hymns instead of Hers!
ShortStory: "The Snail With An Attitude"
**Snail with an attitude**
A guy is sitting at home when he hears a knock at the door. He opens the door and sees a snail on the porch. He picks up the snail and throws it as far as he can. Three years later there’s a knock on the door. He opens it and sees the same snail. The snail says: ‘What the hell was that all about?’
He Who Gives Information Is A Gift-Giver, He Who Ask Questions Is A Thief
He who gives information is a gift-giver; he who asks questions is a thief.
Questions — asking other players for information — are an unnecessary evil for improvisers.
Instead of providing fellow actors with facts, questions place the burden of invention upon the other players. It's much better for an improviser to assume he knows the same information as the other actors, and use the opportunity to contribute his own share of information to the scene.
When a player asks a question, he usually has an answer in mind.
So, **why ask the question in the first place**? If he wants to bring a particular idea into the scene, phrasing it as a question is usually a bad move. After all, his fellow player may not have the same idea that he does, and he may get a completely different answer than he had hoped for.
When two actors in a workshop were portraying a homeless couple, the wife had the idea
to find a lottery ticket in the street. Unfortunately, her husband didn't know this, so when she pointed to the ground and said, "**Look, what's that**?", the husband replied, "Uh ... it's just a pile of shit." The woman was flustered. "No," she said, completely denying his on-the-spot assumption.
"It's a lottery ticket." Wrong! It was a pile of shit. It would have been a lottery ticket, if only she had said so in the first place!
Create A Logo Today Online
Create a Logo
I’ve continually stressed upon the importance of having a great logo created for ourself, our brand or our blog. The long-term value in having a recognizable logo that sticks in the minds of our readers and followers is immeasurable.
The best part about creating a logo for ourself or our brand is that it’s actually fun and probably cheaper than ou think. Some of m recommended sources for getting logo design work done are below.
**LogoNerds.com ($27)**
**DesignPa.com ($89)**
**LogoMoWa.com ($2)**
**DesignCrowd.com ($2)**
**99Designs.com ($299)**
#bitcoin #branding
🌏 Free Cash With Me🌏
Earn Every 4ⁿ Direct payment to wallet
https://cloudfaucet.io/r/54453
“Teacher: ‘Anyone who thinks they are stupid may stand up!’
Nobody stands up
Teacher: ‘I’m sure there are some stupid students over here!!’
Little Johnny stands up*
Teacher: ‘Ohh, Johnny you think you’re stupid?’
Little Johnny: ‘No… I just feel bad that you’re standing alone…’”
Why WordPress is the Best Blogging Solution?
**Why WordPress is te Best Blogging Solution?**
When I first started creating my own websites, I was using **Microsoft FrontPage software**. It was a great WYSIWYG (what you see is whatyou get) editor and I must have created thousands upon thousands of pages with it. Through this software, I was able to create man different types of websites to fit my needs.
During the process, I was also picking up some basic HTML knowledge, which is the basic coding for how sites are designed.
I was never interested in being a programmer and I hate messing with an type of coding or database work, and that is why I loved creating sites with FrontPage.
It wasn’t till 2007 that I created my first blog using Wordpress that I stopped using basic HTML sites for m business and mself.
Once I got used to Wordpress, there was simple no going back. I haven’t touched or created an HTML page since!
Using Wordpress has been a blessing for me and it makes my life so much easier.
Just take a look at a few of the reasons why I love working with Wordpress so much.
It’s free and easy to use Scheduling and adding content is a breeeze Millions of plugins to accomplish anthing Ability to create and add custom themes Designers and programmers can code Wordpress to do anthing our can imagine
Police: Where do you live?
Me: With my parents
Police: Where do your parents live?
Me: With me
Police: Where do you all live?
Me: Together
Police: Where is your house?
Me: Next to my neighbors house
Police: Where is your neighbors house?
Me: If i tell you, you wont believe me.
Police: Tell me
Me: Next to my house
A lady goes to the doctor and complains that her husband is losing interest in sex. The doctor gives her a pill, but warns her that it's still experimental. He tells her to slip it into his mashed potatoes at dinner, so that night, she does just that. About a week later, she’s back at the doctor, where she says, "Doc, the pill worked great! I put it in the potatoes like you said! It wasn't five minutes later that he jumped up, raked all the food and dishes onto the floor, grabbed me, ripped all my clothes off, and ravaged me right there on the table!" The doctor says, "I’m sorry, we didn’t realize the pill was that strong! The foundation will be glad to pay for any damages." "Nah," she says, "that's okay. We're never going back to that restaurant anyway."
@Jesus
