20 Things To Know To Be A Profitable Forex Trader In Singapore
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MT5 international foreign exchange trading platform, recently the foreign exchange gold market is also on the rise
What is the foreign exchange market?Foreign exchange market (FOREx market) refers to the place or network where foreign exchange transactions take place.Mainly between local currency and foreign currency, foreign exchange transactions between different currencies.The foreign exchange market can be divided into two parts, namely the inter-bank foreign exchange market and the retail foreign exchange market.Interbank foreign exchange market can also be acquired as an inter-bank wholesale foreign exchange market, which is the uppermost market in foreign exchange transactions and the market for foreign exchange transactions among Banks, forming a relatively centralized foreign exchange market.In the interbank market, there is no such thing as margin trading.Retail forex market refers to the market between forex trading institutions and their clients. The most basic class in this market is individual traders, characterized by wide and dispersed distribution. The modern international foreign exchange market is generally distributed in major cities in the world, such as London, New York, Paris, Vertical, Zurich, Wellington, Tokyo, Singapore, Hong Kong and other world-famous financial centers and foreign exchange centers. The interconnections and influence of these centers form a foreign exchange network covering the whole world.Due to time zones and time differences, such a horizontal global market is almost always open and close one after another, forming a circular 24-hour foreign exchange market.In the global market, the UK, the US, Singapore, Hong Kong and Japan accounted for 77% of the global forex trading volume.At present, China's foreign exchange market is a market system centered on the inter-bank market. In the foreign exchange market, the exchange rate fluctuation refers to the exchange rate of changing currencies. The change in exchange rate is the decrease in the value of one currency and the increase in the value of another currency.A currency does not become a waste of paper, or even a dwindling currency, but it will always represent a certain value, unless the abolition of the currency is declared.You've had negative interest rates, you've had a plunge in stocks, you've had zero futures, you've had real estate, you've had a question mark as an investment hedge, and in many cases rents may not be worth the mortgage index.For domestic investors, the currency market is the most "clean" speculative market with little risk but great opportunity. Investors need not bother in the performance of each stock, futures long-short don't have to worry about both sides of the insider trading, daily turnover of huge, make any also does not have the dealer's courage, soros, buffett can learn about the information, as well as ordinary investors can learn, global investors and speculators are in the same time looking at the same price and graphics, several thousands of marketmakers network trading platform and the world millions of investors and speculators have together.
Started from the bottom and I finally made it! My tips for new traders starting.
A little background, 23 year old dude from Singapore with IT background (Ethical hacker), friend introduced me to Forex which he eventually quit but I didn't. I love challenges and now I plan on taking up Forex trading as a career apart from my passive income jobs. When I first started trading, I was frustrated! I had so many unanswered questions, why do I keep getting stopped out? Why are my profits so low? Why was my trades always going opposite only once I opened. Is my broker trading against me? So I paused and walked away from the charts for a few weeks, in that break I took it upon myself to understand more about Forex before opening the charts again and here is what I learned. Mind you, I did not buy any course or Indicators! All I did was read articles on the internet, watch a ton of YouTube videos and tried almost all indicators . Here we go, my tips. These are based on my views
UNDERSTAND BANKS AND BIG FINANCIALS INSTITUTIONS MOVES THE MARKET - No retail traders will be able to move the market like how the Big Banks move the market. You need to understand how banks move smart money and dumb money.(Will explain more later in the post)
STOP SEARCHING FOR THE HOLY GRAIL - No indicators is going to tell you where is the best entry or best exit. They often lag and are behind time so by the time you enter a trade, the trend has already moved a certain percentage causing you to lose precious pips that you could have gotten as profits. Instead look at the charts to search for "low risk, high probability trades" (Will explain more later in the post)
LOOK OUT FOR NEWS (fundamentals) - Big impact news move the markets with big moves, don't get stopped out because you entered at the wrong time without knowing that there is a high impact news in a few minutes/hours. It might hurt your account badly even through you have a stop-loss. Understand the nature of the news and how it will impact the currency.
DO NOT CHASE PROFITS - Chasing profits will be the number one reason you blow your account because no amount of money will satisfy you, you will always want more. Trust me, I've been there and done that . Instead start looking at percentage earned and loss, because in Forex you need money to make money. Lets say you have a target of 5% a month, with a $1000 account that is only $50 and doesn't seem significant but do that with a $100,000 account and you will get $5000 every month. I think you will get it by now. You can't just open a $1000 account and expect to be a millionaire in 1 month. Greed will take over you and you will blow every account you open.
DO NOT OVER LEVERAGE YOU ACCOUNT - By over leveraging you will be able to open larger lot sizes and you will feel good that you can use less money to earn more profit! Then you will start trading, say you profited your first trade and you feel good about yourself. Profited your second trade and feel even better. So you go bigger in the third trade, and guess what? You lost this trade. And this one loss is enough to wipe out your whole $1000 account.
MORE TRADES DOES NOT GIVE YOU MORE PROFITS - As a trader you should understand not every trade will turn out positive, there will always be negative trades. And at times you can have more negative trade than positive but still end up with profits at the end of the week? This is where quality over quantity trades comes in play. Lets say for example you had 4 losing trades and 2 winning trades, your losing trades are 2% each and your winning trades are 8% each, add them up and you will still have 8% profit. This is also a very important part called risk management. YOU MUST UNDERSTAND RISK MANAGEMENT ELSE YOU WILL ALWAYS FAIL IN FOREX.
NEVER CHASE THE MARKET - Markets move 24/7 from Monday 5 AM to Saturday 5 AM (Singapore time, GMT+8). There will be plenty of opportunity to enter the market. You don't always need to have an open position during this time to feel like a trader. Smart traders look for the best opportunity to enter the market at certain levels. Missed an opportunity, don't worry! There will always be another opportunity, trust me! By chasing the market and always trying to open a position, it will only cause you to blow out your account faster.
PATIENCE PATIENCE PATIENCE - I can't place more emphasis on this point. Once you have analysed the market and placed your trade, be patient and let the market work for you. By you sitting at the screen 24/7, the trade is not going to go by your way magically. Remember Bulls will Profit, Bears will profit, only Pigs will get slaughtered! Don't let greed eat you alive.
Now lets talk about the "low risk, high probability" trades and how I trade. Trading is easy, if you take some time to understand it. How I trade? That's a simple question. I use supply and demand together with fundamentals. I keep my charts clean off indicators. I know I know as soon as I say supply and demand, some of you are going to be like supply and demand doesn't exist in the currency market. But I hope you understand this are my views. Supply and Demand Supply and demand levels are zones that tend to be tested again and again till its broken creating another level for supply and demand. You are basically trading against the trend and I know people will be scared and think I'm dumb for saying. But once I learned this theory and started practicing it, I kicked myself in the bum for being so dumb all this while. This zones are also known for when banks throw large amount of money into the market. Bank traders do not have their screen cluttered with tons of indicators like retail trades who is just in search for the holy grail. They practice supply and demand. Let me put it in a easier context, It is basically buying a currency at wholesale and selling it at a retail price. People always practice this everyday in life like buying more of a certain item just because it is on discount at a supermarket but I don't understand why they neglect it when it comes to Forex. It is no different here in the markets. I am not going to say no more, as I want you to google more about it and understand it yourself, that is the best way you will learn better. Watch YouTube videos, read articles, see how bankers trade, understand why they place the trade. Also understand that there is no supply and demand in lower time frame like M1 or M5, its just noise. For myself, I use H1/H4/D1. I make 100-200 pips per week and that is enough for me currently, Remember don't be greedy. However when there is news events, supply and demand may be ignored due to the nature of how fundamentals affect the market differently. Understand the difference and with that I have came to the end. Remember to treat yourself once in awhile when you do good each month, You will enjoy trading better. Let me tell you the best part about trading, is that you can work from anywhere in the world, be your own boss and never be pressured by anyone. If you have made it this far, I thank you for taking your time to read this thread. This may be your first step to success. HAVE A GREAT WEEKEND AND HAPPY TRADING
Dividend Discord chat server.. 1460+ dividend investors on it
Hi all, I created a Discord chat server focused on dividend investing as a place where you can type (and/or talk) real-time with other investors (as well as people interested in becoming investors). Our 1469th investor just joined a few moments ago. We have folks in there with decades of experience that became millionaires through investing and people who have never invested and are just interested to learn, and everything in between... From teenagers to people in their 70s from all around the world including China, Croatia, Cyprus, Kuwait, Romania, Finland, Bulgaria, Sweden, Germany, Canada, Belgium, China, Singapore, Israel, England, Australia, Greece, Switzerland, and others. We have a general chat channel that is basically for normal bs’ing, and then we have specific channels for dividend stocks and well as non-dividend stocks, and investing channels for ETFs & Mutual funds, Crypto, Commodities, Real Estate, and Forex. We also have a channel for talking about your portfolio & watchlist. I've also created a channel for dividend alerts which automatically posts dividend cuts or increases which attempts to keep people informed as soon as the information is out there, as well as an automated investing news channel which posts investing articles as they come out, and an automated channel for breaking world news as it comes out. There are also channels for movies & tv & books, politics, video games, general news, politics, sports, health & fitness, and a Polls channel (to optionally query people's thoughts on a variety of topics). This way we keep investing separate from others topics. I and my friend moderate it to keep topics aligned to channels, and to minimize self promotion or toxic individuals. Feel free to check it out and chat with others, or come and just lurk :) https://discord.gg/kkSr5FY For those that are unfamiliar, Discord is just a free chat service that people use for text (and voice) persistent group communication. You can access it via your browser using the link above, or you can download a smartphone app and type in kkSr5FY in the invite field. Of course, none of the information should be taken as financial advice that you act on without doing your own research.
Dividend Discord server.. 1750+ dividend investors on it
Hi all, I created a Dividend Discord chat server focused on dividend investing as a place where you can type (and/or talk) real-time with other investors (as well as people interested in becoming investors). Our 1755th investor just joined a few moments ago. We have folks in there with decades of experience that became millionaires through investing and people who have never invested and are just interested to learn, and everything in between... From teenagers to people in their 70s from all around the world including China, Croatia, Cyprus, Kuwait, Romania, Finland, Bulgaria, Sweden, Germany, Canada, Belgium, China, Singapore, Israel, England, Australia, Greece, Switzerland, and others. We have a general chat channel that is basically for normal bs’ing, and then we have specific channels for dividend stocks and well as non-dividend stocks, and investing channels for ETFs & Mutual funds, Crypto, Commodities, Real Estate, and Forex. We also have a channel for talking about your portfolio & watchlist. I've also created a channel for dividend alerts which automatically posts dividend cuts or increases which attempts to keep people informed as soon as the information is out there, as well as an automated investing news channel which posts investing articles as they come out, and an automated channel for breaking world news as it comes out. There are also channels for movies & tv & books, politics, video games, general news, politics, sports, health & fitness, and a Polls channel (to optionally query people's thoughts on a variety of topics). This way we keep investing separate from others topics. I and my friend moderate it to keep topics aligned to channels, and to minimize self promotion or toxic individuals. Feel free to check it out and chat with others, or come and just lurk :) https://discord.gg/kkSr5FY For those that are unfamiliar, Discord is just a free chat service that people use for text (and voice) persistent group communication. You can access it via your browser using the link above, or you can download a smartphone app and type in kkSr5FY in the invite field. Of course, none of the information should be taken as financial advice that you act on without doing your own research.
free Dividend Discord chat server.. 1250+ dividend investors on it
Hi all, I created a Discord chat server focused on dividend investing as a place where you can type (and/or talk) real-time with other investors (as well as people interested in becoming investors). UPDATE! As of 7/30/2020 we now have over 4,000 investors on it (I can't edit the title unfortunately). We have folks in there with decades of experience that became millionaires through investing and people who have never invested and are just interested to learn, and everything in between... From teenagers to people in their 70s from all around the world including China, Croatia, Cyprus, Kuwait, Romania, Finland, Bulgaria, Sweden, Germany, Canada, Belgium, China, Singapore, Israel, England, Australia, Greece, Switzerland, and others. We have a general chat channel that is basically for normal bs’ing, and then we have specific channels for dividend stocks and well as non-dividend stocks, and investing channels for ETFs, Crypto, Commodities, Real Estate, and Forex. We also have a channel for talking about your portfolio & watchlist. I've also created a channel for dividend alerts which automatically posts dividend cuts or increases which attempts to keep people informed as soon as the information is out there, as well as an automated investing news channel which posts investing articles as they come out, and an automated channel for breaking world news as it comes out. There are also channels for movies & tv & books, politics, video games, general news, politics, sports, health & fitness, and a Polls channel (to optionally query people's thoughts on a variety of topics). This way we keep investing separate from others topics. I and my friend moderate it to keep topics aligned to channels, and to minimize self promotion or toxic individuals. Feel free to check it out and chat with others, or come and just lurk :) https://discord.gg/kkSr5FY For those that are unfamiliar, Discord is just a free chat service that people use for text (and voice) persistent group communication. You can access it via your browser using the link above, or you can download a smartphone app and type in kkSr5FY in the invite field. Of course, none of the information should be taken as financial advice that you act on without doing your own research.
Starting a workgroup to tackle shady MLMs and "scam" courses
Hi all Besiege here. After seeing a couple of reddit posts on shady MLM, pyramid schemes and "scam" courses, I was wondering if any of the sg redditors here would be interested to start a workgroup to better address these issues (it can be online!). There has been a sizable movement by the government to catch outright scams ( https://www.scamalert.sg/ ), but the same cannot be said for shady MLMs/"scam" courses. If there is one which I am not aware of, let me know and I will delete this post. Personally, I feel indignant whenever I hear of individuals/groups taking advantage of vulnerable populations in order to make a quick buck off them. Worse, I shudder when I hear these scummy people justify their actions by arguing they are providing opportunities for others to become a better version of themselves. Just a few quick points to get terminologies out of the way:
Multilevel/Network Marketing companies are not illegal. In fact, I think using personal networks to sell products is a perfectly legitimate marketing strategy. The company is illegal if the payment structure for the distributors is like a pyramid. The basic idea of a pyramid scheme is that money is made primarily through recruiting more people to market/distribute the products, where there is often an upfront payment fee to join as a distributor. This joining fee then goes up the pyramid to pay whoever suckered the recruit in and then to whoever suckered the recruiter in, all the way to the top of the pyramid.
However, some pyramid companies have been really good at disguising as legal MLM companies. Take Herbalife for example, one of the world's most successful MLM companies, with a presence in Singapore as well. It was found by the US Federal Trade Commission to be complicit in unfair practices (having pyramid-like features) and was fined 200 million dollars.
By "scam" courses, I refer to courses where people are sold false promises of earning some $$$$ by learning some secret tips/skills, but instead, find themselves paying more and more to unlock knowledge that ends up going nowhere. Such "scam" courses over promise, under deliver. They can take many forms: be it internet marketing, platform-based selling, property investment, forex trading, wealth generation, etc. I use "scam" for a lack of a better word, since I believe they are mostly operating within legal limits. But just because it is legal, doesn't mean it is good!
The main point of "scam" courses is not to teach and get you up and running (it would be great advertising for them if you somehow managed to do it), but to tease you enough to sign up for level 2, level 3... Or in some cases paying a premium for special extras, such as 1 to 1 coaching, this special chat group where you get more advanced knowledge. Maybe even get a cut for referring others to join future courses. This can get insidious because some of the courses actually teach you a few tricks (although they are very basic), and the feel-good from learning can make it feel like it is worth the cost.
Some ideas right off the top of my head:
Maintaining a list of potentially shady companies/courses/individuals to avoid (on a website/gdoc/ singapore wiki page)
Creating a checklist for people to suss out shady schemes (e.g. no mention of the company's name, constant avoidance of business model, no mention of the product being sold, some mentor figure who changed lives)
Written articles to detail modus operandi of various pyramid/"scam" course schemes (e.g. like the rice media article on ICS)
Have an open channel for people to talk about any potential illegal MLM experiences; We will listen and ask guiding questions to suss out if the experience was indeed MLM (by notafairylight)
If you are interested to join this workgroup or have better ideas, do pm me or post it in the comments. I am looking at maybe 5-6 people for a start, who are willing to carve out some of their personal time for this initiative. Also, if you have knowledge and skills you think which can be useful for this initiative, do sound out! E.g. writing, legal, content creation, intimate knowledge of various pyramid schemes, programming, etc. I am currently working as a data-analyst btw!
EDIT: Thanks for the awesome response guys! I will create a separate chat group for all those who have indicated interest to help; I will send u the chat group link via PM by tomorrow. It would be great if someone could think of a catchy group name.
EDIT2: Hi, I have sent out the group links. If I missed out anyone, please sound out via pm!
-Pakistan to host ‘AdAsia – Asian Advertising Congress’ this year In a logo unveiling ceremony held at Faletti’s Hotel Lahore, on Sunday, it was revealed that AdAsia 2019 —Asian Advertising Congress is going to be held in Pakistan this year. AdAsia is the largest and most prestigious advertising congress in Asia, organized bi-annually by the Asian Federation of Advertising Associations (AFAA). The AdAsia 2019 Congress will be held in Lahore at the Lahore International Expo Centre from December 3 to 5. The theme for the Congress is ‘Celebrasian: Celebration of Advertising and Creativity in Asia’. -IDB to lend Pakistan oil worth $4.5 bn The spokesperson for the Ministry of Finance on Saturday claimed that the Saudi-backed Islamic Development Bank (IsDB) will lend Pakistan oil worth $4.5 billion. “The IsDB will lend Pakistan oil worth $4.5 billion over three years. The oil will be lent in three installments of $1.5 billion each every year,” the spokesperson added. The Ministry of Finance spokesperson further said that in the first phase they have received oil worth $100 million and oil worth $270 million will be lent in the second phase. “We are also in talks with the IsDB regarding lending of liquefied natural gas (LNG),” the spokesperson added. -Economic revival: PTI government relief package earns Rs 125 billion immediately The federal government’s relief package for the stock market in the ‘Mini-budget’ on January 23 has brought positive impact. KSE-100 index settled at 40,254 points with a rise of 958 points within one week. The business-friendly concessions including abolition of the advance tax of 0.02pc on share trading under Presumptive Tax Regime and super tax in the mini-budget have been welcomed by the stockbrokers and industrialists altogether. -69 women constables complete elite commando training in K-P Over 7,000 personnel of the Khyber-Pakhtunkhwa (K-P) police, including 69 women constables, have successfully completed a grueling Elite Commando Training Course. As per a statement issued by K-P police’s public relations, the police personnel completed training in 15 basic courses conducted at different training centres. Most policemen, including the women constables, voluntarily opted for the tough four-month long course. The communique also said another batch of women commandos is currently being trained and shall soon be elevated to the rank of elite commandos. -Karachi police chief makes surprise visits, suspends four police officials In a surprise move, Additional Inspector General Police Dr Amir Shaikh on Saturday visited different areas of the city, disguising himself as a common citizen to witness the performance the police force. A police spokesperson said that the Karachi police chief suspended four police officials, including two ASIs over violation of duty rules and harassing public. He said that the police officials were found harassing people instead of controlling traffic at MT Khan Road in Sultanabad. The officials were from Jackson and Sultanabad police stations, said the spokesperson and added that the police chief had directed SP Traffic city and DSP to submit report over the issue. In-charges of Jackson and Sultanabad police stations along with record keepers were also summoned by the AIG Dr Amir Shaikh, said the spokesperson. -In a historical move, Pakistan elected as Vice Chair of Asia Pacific Ministerial Forum Pakistan was elected as the vice chair at the third UN Environment’s Forum of Ministers and Environment Authorities of Asia Pacific that was held in Singapore from January 23 till January 25. The newswas revealed in a tweet by Adviser to Prime Minister on Climate Change Malik Amin Aslam. He said Pakistan got elected to the position owing to the country’s ‘sincere and dedicated’ environment preservation endeavours. -Pakistan Army achieves historic milestone on Pakistan Afghanistan border fencing Director General of Inter-Services Public Relations (ISPR) Major General Asif Ghafoor Sunday said work on about 900 kilometer fence along the Pakistan-Afghanistan border had been completed. Briefing a team of journalists and anchor-persons at Ghulam Khan, a bordering village in North Waziristan Agency,he said the work on erection of about 1200 km chunk, the most sensitive portion out of the total 2600 km long border with the neighbouring country, had commenced last year. Zero Point is the entry and exit point of Pakistan from Afghanistan where a formal border post was constructed last year Major Gen Asif Ghafoor said the project would cost about Rs 70 billion, which also included the cost of gadgets and surveillance equipment to keep strict vigil on the illicit movement from across the border. He said the fence had amply helped check the movement of terrorists from across the border and it would further assist after completion of the project which was expected to culminate next year. The visit of media-persons was conducted for the first time in the country's history as no such activity could have happened as all the area had been “no go area” for the civilians or even by the security forces themselves. -Foreign Media representatives visit North Waziristan, stunned with Pakistan Army successes against terrorism Local and foreign media representatives on Sunday visited Peshawar, Miranshah, and Ghulam Khan Border terminals along with Director General ISPR Major General Asif Ghafoor for the first time after military operations. It was the first direct interaction of the media with local people, who while standing in Miranshah Bazar, talked to reporters about improved peace situation and administrative issues in the area. They lauded Pakistan Army for its efforts in restoring peace and development. -Pakistan Cement Exports register significant rise in first half of FY 2018 - 19 The export of cement from the country witnessed increase of 32.4 percent during first half of current fiscal year as compared to same period of last year. The export of the commodity increased to $157 million in July-December (2018-19) against the export worth of $118.586 million in sameperiod of last year, a latest data released by Pakistan Bureau of Statistics (PBS) said. In term of quantity, the cement export recorded 55.52 percent increase to 3.671 million Metric Ton (MT) during the period under review as compared to export of 2.36 million MT cement during same period of previous year. On year-on-year basis, the cement export jumped by 78.02 percent to $25.89 million in December 2018 from $14.54 million of cement export during December 2017, the data revealed. The overall export of goods during first half of current fiscal year recorded an increase of 2.19 percent to $11.216 billion against the exports of $10.976 billion recorded during same period of last year. -KP Tourism. Potential stuns audience at International Tourism Fair in Europe A large number of visitors, tourists and investors thronged the stall of Tourism Corporation Khyber Pakhtunkhwa (TCKP) at the tourism trade fair at Feria de Madrid, Spain, and showed keen interest in the KP’s tourism potential. The TCKP team highlighted salient features of the cultural and tourist resorts through video documentaries, pictures, brochures and posters. The visitors were informed that 70 percent of tourist resorts were located in KP and the foreign tourists can now visit any place without any restriction and obtaining Non-Objection Certificate. The KP participation in fair encouraged the international tour operators to bring cultural and mountaineering expeditions to the province, which will highlight Pakistan as one of the best tourist destinations for international tourists. -Foundation stone laid for $200 million knowledge city in Pakistan, first ever in County's history Prime Minister Imran Khan Sunday inaugurated the first academic block of the NAMAL Knowledge City. The vision behind Namal Knowledge City is to create a hub of knowledge exchange and research in Mianwali. The Knowledge City will include academic blocks, a knowledge center, a sports complex, sports grounds, a hospital, technology parks, business centers, shopping malls, a dairy farm, a resort, software houses, hotels, a primary school, and a housing colony for the faculty. A total of US$ 200 million will be spent on the construction of the Knowledge City which will be built on the concept of a zero carbon foot print and completed by the year 2027. It will have a population of 11,000 with construction spread over 4 million square feet. It will accommodate 7,000 students with 600 faculty members. -E Rozgar Programme launched, Click for Registration The Punjab IT Board and Ministry of Youth Affairs has jointly launched a three-month free E-Rozgar Training Programe for the youth, aimed at imparting vocational training to the jobless, enabling them to earn their livelihood honourably. In this regard, the admission has started for enrollment in these technical courses and the last date for the on-line registration is the 9th of the next month. The requisites of getting admission include that the applicant should have an NCIC, his minimum age 16, maximum age 35 and should be jobless. -Pakistan China ink deal worth billions of dollars today: Report A Chinese company will invest billion of dollars in mineral exploration and processing projects in Khyber Pakhtunkhwa. A Memorandum of Understanding in this regard has been signed in China today. According to Khyber Pakhtunkhwa Minister for Mineral Development Dr. Amjad Ali, the Chinese company will setup mineral industrial park in Rashakai Special Economic Zone. -Pakistan's NESPAK completes 3,900 mega projects in Pakistan and across 37 countries of World worth Rs 19,000 billions National Engineering Services Pakistan (NESPAK) has successfully completed 3,900 development projects within Pakistan and 37 in other countries with an accumulative cost of Rs 19,000 billion since its establishment, 45 years ago. NESPAK Managing Director Dr. Tahir Masood told media here Saturday that foreign countries where NESPAK has extended engineering consultancy services were mostly located in the Middle East, Far East, Central Asia and Africa. In this way, he added, NESPAK had placed the country on the export map of the world and was committed to provide multi-disciplinary engineering consultancy services with the highest level of professionalism and dedication. -Government launches Dominted Bank bond PTI government is launching yet another economic initiative for overseas Pakistanis to attract billions of dollars for balance of payment and enhancing reserves. PTI government is launching dollar-denominated diaspora bond named Pakistan Banao Certificate (PBC) on January 31st. The diaspora bond is being launched to take advantage of international savings of overseas Pakistani’s and bolstering its foreign exchange reserves. According to details shared by the Finance Minister Asad Umar , the certificates would be of two types, one of three years offering 6.25% return and the other with five-year maturity offering 6.75% return. Mr Umar said four banks had been selected to complete the transactions. -Rupee hits seven-week high at 138.78 Pakistani currency has recovered to a seven-week high at Rs138.78 against the US dollar in inter-bank market on Friday, according to the State Bank of Pakistan, after the country successfully mitigated the risk of default following receipt of $2 billion from friendly countries. Simultaneously, the rupee revived to a four-week high at retail market to 139 against the greenback on Saturday, according to a forex website. “The $2 billion inflows from the UAE and Saudi Arabia (on Thursday and Friday) has partially eased the panic at currency markets,” said a banker on condition of anonymity. -PM Imran discusses major proposals to revive PIA As Pakistan International Airlines (PIA) struggles to rein in mounting losses, Prime Minister Imran Khan discussed major proposals presented at a high-level meeting to turn around the financially troubled national flag carrier. The prime minister chaired the meeting at the PM Office earlier this month, which was attended by top cabinet members, civil bureaucracy and military officers. The premier directed the authorities to arrange additional guarantees of Rs15 billion as interim relief for PIA. A proposal was endorsed to freeze PIA’s outstanding dues, amounting to over Rs80 billion, which were payable to the Civil Aviation Authority (CAA) along with late payment surcharge, according to minutes of the meeting available with The Express Tribune. -World Bank releases $58m for house financing The World Bank has disbursed $58 million for house financing in Pakistan and the federal cabinet has approved the transfer of the fund to Pakistan Mortgage Refinance Company (PMRC). “It ($58 million – Rs7.8 billion) is a World Bank credit line for PMRC,” PMRC Managing Director and Chief Executive Officer Mudassir Hussain Khan told The Express Tribune. “The cabinet has approved the transfer of the fund. It will take around a week to 10 days before the money reaches PMRC account.” -Talks between Pakistan, China for FTA to begin next month Federal Secretary for Trade, Younus Dagha has said that the talks between Pakistan and China for a Free Trade Agreement (FTA) will commence next month. Talking to a delegation of the Trade Development Authority’s officials in Lahore, he expressed optimism that the new trade agreement with China will help thrive national economy and would be in the best interests of both the friendly countries. “The trade deficit of Pakistan has decreased by five per cent during the incumbent government and our exports are increasing day by day.” He said the expansion of the trade volume with India depends on the decisions of the governments of both the countries. He informed that trade with Afghanistan is also improving. -Amended finance bill to reduce cost of doing business: PEW The Pakistan Economy Watch (PEW) on Sunday said the recently amended finance bill will reduce the cost of doing business which in turn, will reduce the prices of many items. The move will support businesses and help exporters regain ground in the international market as the government has reduced and abolished several taxes to lift economic activities, it said. The government will lose almost seven billion rupees in revenue but it will gain more in the shape of foreign exchange, said PEW President Dr. Murtaza Mughal. He said the recommendations will be applicable from the next fiscal term but it has already elevated business sentiments as many leading business groups are planning to boost investments. -Economic reforms help PSX gain 958 points in week The benchmark KSE-100 index accelerated by 958 points in the outgoing week and settled at 40,265 points, providing a weekly return of 2.44pc, owing to improved sentiment on account of the economic reforms package announced by the government. The Finance Supplementary (Second Amendment) Bill, 2019 was broadly focused on improving ease of doing business, incentivizing export-oriented/industrial sectors and elimination of domestic growth hampering impediments. A key demand from the stock market to abolish the advance tax of 0.02pc was accepted, while the government also allowed capital losses to be carried forward for three years, thereby impacting the investor sentiment positively. -Govt to announce medium-term economic framework in coming week: Hammad Azhar The Minister of State for Revenue Hammad Azhar on Friday said the government will announce a medium-term economic framework in the coming week. The forthcoming medium-term economic framework will bring measures that will enhance exports and investments, said Azhar while speaking at a seminar on “Economic Reforms: Way forward”, organised by the Sustainable Development Policy Institute (SDPI), reports an English daily. He shared the government is moving towards execution a direct taxation regime whilst gradually restricting indirect taxes. Mr Azhar underlined that the supplementary budget which was announced on Wednesday didn’t target fiscal and monetary measures but was an economic reforms package to resuscitate and enhance growth and investment. -Economic reforms package to help boost exports, trade and investment State Minister for Revenue Hamad Azhar on Friday said that economic reforms package announced by the PTI government will help in boosting exports, trade and investment. Talking to a private news channel, he said the economic reforms package will prove to be helpful in overcoming the trade and fiscal deficit. Mr Azhar said due to effective economic policies of the Pakistan Tehreek-e-Insaf (PTI) government, the international investors are desirous of investment in Pakistan. The government is taking many steps for the revival and betterment of the economy, he added. -Tale as old as time: Labyrinth of tunnels discovered under Lahore Fort A labyrinth of underground tunnels, as well as hidden basements, has been discovered under Lahore Fort. Immortalised in short stories, these passages have always been hidden from the naked eye. However, during excavation, the Walled City of Lahore Authority (WCLA) has discovered two underground tunnels and an arsenal which are currently under restoration. A symbol of the opulence of the Mughals, Lahore Fort has kept many a secret for hundreds of years; secrets which are now slowly being revealed. During excavation and restoration work, WCLA recently discovered a passage of underground tunnels which run underneath the fortress. This has caused tourists, hungry for information on the underground tunnels, to throng to the citadel and present their own theories on how the passages were used. -Indonesia, Pakistan ties poised for a quantum leap, says envoy Counsellor and head of cultural section Embassy of Republic of Indonesia Deny Tri Basuki has said Indonesia and Pakistan share strong socio-cultural and religious bond rooted in history. Pakistan and Indonesia stand proudly together as two of the largest Muslim populated countries and emerging economies of creative and talented people. He expressed these views on the occasion of a business gathering organised by tourism ministry of Indonesia in collaboration with the Indonesian embassy. A large number of stakeholders hailing from the travel and aviation industry of Pakistan attended the event. -Japanese aircraft take part in pre Aman-19 exercise The Pakistan Navy is hosting the 6th series of AMAN-19 – a Multinational Maritime Exercise – in February 2019 in Karachi, and two Japanese Naval P3C aircrafts of Deployed Maritime Force for Anti-Piracy Enforcement (DAPE) visited the PNS Mehran in Karachi for the pre-AMAN-19 exercise. According to a press statement issued by the navy’s Director General Public Relations (DGPR) on Saturday, the Japanese aircrew participated in various events including search and rescue (SAR) and counter piracy (CP) exercises along with the navy aircrew. The Japanese contingent also visited maritime and Pakistan Air Force (PAF) museums to learn about the historic achievements of the two forces. -‘Chinese, Russian firms keen to invest in PSM’ Adviser to Prime Minister on Commerce Abdul Razak Dawood revealed that three Chinese and three Russian firms have shown interest in investing in Pakistan Steel Mills (PSM). Addressing a ceremony held for the inauguration of International Steels Limited’s new plant, he said that the committee tasked with revival of PSM has drafted its recommendations and the Economic Coordination Committee (ECC) will make a decision by March. -China has given Pakistan additional access to its market: Dawood Prime Minister’s Adviser for Trade and Industry Abdul Razzak Dawood on Saturday said the government is working to hammer out national industrial and tariff policies, ARY News reported. Dawood while talking to industrialists in Karachi, said that China has granted Pakistan an additional access to its market. “We are working to slash unnecessary imports and increase exports”. He said unnecessary items will be removed from shelves of super markets and precious foreign exchange will not be spent on such imports. The adviser said the government has taken effective steps to facilitate business in mini budget, which will be approved in next seven day. -Pakistani Teacher Shortlisted for Cambridge’s Most Dedicated Teacher Award Cambridge University Press has shortlisted a Pakistani teacher, Ahmed Saya, for the ‘Most Dedicated Teacher’ award. Ahmed Saya, an A-level teacher from Karachi, is one of the six brilliant minds around the world to be shortlisted for the prize. The competition included entries of 3500+ teachers from over 140 countries for the prestigious award. Cambridge’s official Twitter handle said it was a tough call, but they shortlisted six teachers for this year’s Dedicated Teacher Awards. -Swiss Investor to Open A Chain of Luxury Hotels in Pakistan Swiss International Hotels & Resorts is mulling to open a chain of its luxury hotels in different cities of Khyber Pakhtunkhwa (KP). The President and CEO of Swiss International Hotels & Resorts, Henri (Hans) WR Kennedie informed this to Chief Minister KP Mahmood Khan during a meeting on Friday. During the meeting, Henri told CM Khan that they were already working on a plan to establish luxury hospitalities in various parts of the province.
Daily analysis of cryptocurrencies 20191109 (Market index 38 — Fear state)
https://preview.redd.it/ofi0c61nnmx31.png?width=735&format=png&auto=webp&s=c57ef91e3ce26cc1ea8ab8f0c96f17c9c5f68bf5 Malaysia To Impose Restrictions On Cash Transactions The Malaysian government plans to impose restrictions on cash transactions reports local media platform The Star. According to the publication, the move is part of efforts to combat money laundering in the country. Commenting on the plan, Datuk Abdul Rasheed Ghaffour, the deputy governor of Malaysia’s Central Bank Negara (BNM), remarked: “This is to address the abuse of physical cash used for illicit activities.” Malaysian economist, Barjoyai Bardai believes the proposed cash transaction limit in the country could boost digital currency adoption. EU Is Working On ECB Digital Currency With Possible Progress Next Year According to Reuters, progress on the feasibility of a digital currency backed by the European Central Bank could be made in the coming months, senior officials said on Nov 8, cautioning that the project faced challenges and was for the long term. Tunisia Issues Central Bank Digital Currency On Nov 9, the TASS news agency reported that the Central Bank of Tunisia was to be the first to release a digital currency. The ‘E-dinar’ was officially launched in the test form at the Forex Club of Tunisia, with a symbolic transfer of one dinar between the head of the central bank, Marouane El Abassi, and a representative of the International Monetary Fund (IMF). At the time of writing, Bitcoin is trading down nearly 5% at its current price of $8,850, which marks a notable drop from its 24-hour highs of $9,300. Prior to today’s drop, Bitcoin has been caught in a relatively tight trading range between $9,000 and $9,500 for a couple of weeks, and neither bulls nor bears had been able to incur enough strength to push the crypto out of this trading range until early this morning when bears forced it below its lower range boundary at $9,000. In the time since its drop, BTC has shown no sign of slowing its decent, as it continued to slowly grind lower as the morning dragged on. Review previous articles:https://firstname.lastname@example.org
Encrypted project calendar（November 9, 2019）
CENNZ/Centrality:Centrality (CENNZ) will meet in InsurTechNZ Connect — Insurance and Blockchain on October 9th in Auckland.HTMLCOIN (HTML):09 November 2019 (or earlier) Mandatory Wallet Update Mandatory Wallet Update: there will be a soft fork on our blockchain. This update adds header signature verification on block 997,655.Harmony (ONE):09 November 2019 Indian Meetups Come & meet us in person on November 9th in our meetups in Bangalore & New Delhi!
Encrypted project calendar（November 10, 2019）
Bibox Token (BIX):10 November 2019 Bibox Summit “Bibox Summit 2019 — Maximizing Profit On Uptrend Season” from 1 PM — 5 PM (ITV) in Ho Chi Minh City.TRON (TRX):10 November 2019 AMA w/Kucoin Co-founder “Join us on Nov 10, 6:00 PM(PST) for an AMA with TOP, Co-Founder of@kucoincom, in our English Telegram group…”
Encrypted project calendar（November 11, 2019）
PAX/Paxos Standard:Paxos Standard (PAX) 2019 Singapore Financial Technology Festival will be held from November 11th to 15th, and Paxos Standard will attend the conference.Crypto.com Coin (CRO):and 3 others 11 November 2019 Capital Warm-up Party Capital Warm-up Party in Singapore.GoldCoin (GLC):11 November 2019 Reverse Bitcoin Hardfork The GoldCoin (GLC) Team will be “Reverse Hard Forking” the Bitcoin (BTC) Blockchain…”Horizen (ZEN):11 November 2019 (or earlier) Horizen Giveaway — Nodes Horizen Giveaway — Win Free Node Hosting! Entries before November 11th.SINOVATE (SIN):11 November 2019 Roadmap V3 SINOVATE (SIN) Roadmap V3 will be released with new upcoming technologies and proof of concepts!0x (ZRX):11 November 2019 0x V3 Vote Ends “The voting period will end on November 11. Learn more about all the exciting features included in v3 below.”Akropolis (AKRO):and 4 others 11 November 2019 Kucoin Blockchain Day “KuCoin Blockchain Day Berlin 2019” from 5 PM — 9:15 PM (CET) in Berlin.
Encrypted project calendar（November 12, 2019）
BTC/Bitcoin:The CoinMarketCap Global Conference will be held at the Victoria Theatre in Singapore from November 12th to 13thBinance Coin (BNB)and 7 others: 12 November 2019 CMC Global Conference “The first-ever CoinMarketCap large-scale event: A one-of-a-kind blockchain / crypto experience like you’ve never experienced before.”Aion (AION)and 17 others: 12 November 2019 The Capital The Capital conference from November 12–13 in Singapore.Loom Network (LOOM):12 November 2019 Transfer Gateway Update “If you have a dapp that relies on the Transfer Gateway, follow the instructions below to make sure you’re prepared.”Kava (KAVA):12 November 2019 Updated Mainnet Launch “Our updated mainnet launch will be on Tuesday November 12th at 14:00 UTC.”Crypto.com Coin (CRO):12 November 2019 Telegram AMA Live AMA with CRO COO and Kucoin’s Global Community Manager on KuCoin’s official English Telegram channel at 16:00 (UTC+8).Chainlink (LINK):and 1 other 12 November 2019 NYC Meetup “Ontology + Future of Blockchain in China Meetup Presented by Chainlink” in NYC from 6:30 PM — 8:30 PM.
Encrypted project calendar（November 13, 2019）
Fetch.ai (FET):13 November 2019 Cambridge Meetup “Join us for a@Fetch_ai#Cambridge #meetup on 13 November@pantonarms1.”Binance Coin (BNB)and 5 others: 13 November 2019 Blockchain Expo N.A. “It will bring together key industries from across the globe for two days of top-level content and discussion across 5 co-located events…”OKB (OKB):13 November 2019 Dnipro, Ukraine- Talks Join us in Dnipro as we journey through Ukraine for our OKEx Cryptour on 11 Nov.Centrality (CENNZ):13 November 2019 AMA Meetup “Ask our CEO@aaronmcdnzanything in person! Join the AMA meetup on 13 November in Singapore.”OKB (OKB):13 November 2019 OKEx Cryptotour Dnipro “OKEx Cryptour Ukraine 2019 — Dnipro” in Dnipro from 6–9 PM (EET).Vexanium (VEX):13 November 2019 Dapps Incentive Program Vexanium will give an incentive for every Dapps that is submitted during this program period.Egretia (EGT):13 November 2019 Post Consensus Invest “2019 NYC Blockchain Gaming & DeFi Party | Post Consensus Invest” in NYC from 7–9 PM.Holo (HOT):13 November 2019 AMA “Submit your questions before the #AMA on Nov 13th @ 5PM — 5:45PM UTC”
Encrypted project calendar（November 14, 2019）
BTC/Bitcoin:The 2019 BlockShow Asia Summit will be held at Marina Bay Sands, Singapore from November 14th to 15th.Binance Coin (BNB):and 4 others 14 November 2019 BlockShow Asia 2019 BlockShow Asia 2019 at Marina Bay Sands Expo, Singapore from November 14–15.Basic Attention Token (BAT): 14 November 2019 London Privacy Meetup “If you’re in London on Nov. 14th, don’t miss our privacy meetup! The Brave research team, our CPO@johnnyryan, as well as@UoE_EFIHorizen (ZEN):14 November 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.IOTA (MIOTA):14 November 2019 Berlin Meetup From Construction to Smart City: IOTA, Maschinenraum & Thinkt Digital will explain, using concrete use cases, how to gain real value from..Dash (DASH):14 November 2019 Q3 Summary Call “Dash Core Group Q3 2019 Summary Call — Thursday, 14 November 2019”NEO (NEO):14 November 2019 NeoFest Singapore Meetup “Glad to have@Nicholas_Mertenfrom DataDash as our host for #NeoFest Singapore meetup on 14th Nov!”ANON (ANON):14 November 2019 ANONIO Wallet Upgrade In conjunction with the Echelon Update, the ANONIO wallet will also be receiving an upgrade!
Encrypted project calendar（November 15, 2019）
TRON (TRX):15 November 2019 Cross-chain Project “The #TRON cross-chain project will be available on Nov. 15th”Bluzelle (BLZ):15 November 2019 (or earlier) CURIE Release CURIE release expected by early November 2019.Zebi (ZCO):15 November 2019 ZEBI Token Swap Ends “… We will give 90 days to all the ERC 20 token holders to swap out their tokens into Zebi coins.”OKB (OKB):15 November 2019 OKEx Talks — Vilnius “Join us for a meetup on 15 Nov (Fri) for our 1st ever Talks in Vilnius, Lithuania.”Zenon (ZNN):15 November 2019 Awareness Fund Payout “Distribution of the fund takes place every Friday until Pillars Lock-in Phase is completed.”
Encrypted project calendar（November 16, 2019）
Bancor (BNT): and 2 others 16 November 2019 Crypto DeFiance-Singapore “Crypto DeFiance is a new global DeFi event embracing established innovators, financial market disruptors, DApp developers…”NEM (XEM):16 November 2019 Developer’s Event “BLOCKCHAIN: Creation of Multifirma services” from 10:50 AM — 2 PM.
Encrypted project calendar（November 17, 2019）
OKB (OKB):17 November 2019 OKEx Talks — Lagos Join us on 17 Nov for another OKEx Talks, discussing the “Life of a Crypto Trader”.
Encrypted project calendar（November 18, 2019）
Maker (MKR):18 November 2019 MCD Launch “BIG changes to terminology are coming with the launch of MCD on Nov. 18th Say hello to Vaults, Dai, and Sai.”
Encrypted project calendar（November 19, 2019）
Lisk (LSK):19 November 2019 Lisk.js “We are excited to announce liskjs2019 will take place on November 19th. This all day blockchain event will include…”
Encrypted project calendar（November 20, 2019）
OKB (OKB):20 November 2019 OKEx Cryptour Odessa Ukr “Join us in Odessa as we journey through Ukraine for our OKEx Cryptour!
Encrypted project calendar（November 21, 2019）
Cardano (ADA):and 2 others 21 November 2019 Meetup Netherlands (AMS) “This meetup is all about how to decentralize a blockchain, the problems and differences between Proof-of-Work and Proof-of-Stake…”Cappasity (CAPP):21 November 2019 Virtuality Paris 2019 “Cappasity to demonstrate its solution for the interactive shopping experience at Virtuality Paris 2019.”Horizen (ZEN):21 November 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.OKB (OKB):21 November 2019 OKEx Talks — Johannesburg “Join us the largest city of South Africa — Johannesburg where we will host our OKEx Talks on the 21st Nov.”IOST (IOST):22 November 2019 Singapore Workshop Join the Institute of Blockchain for their 2nd IOST technical workshop in Singapore on 22 Nov 2019. The workshop includes IOST’s key tech.OKB (OKB):22 November 2019 St. Petersberg Talks “Join us in St. Petersberg on 22 Nov as we answer your questions on Crypto Security. “
Encrypted project calendar（November 22, 2019）
IOST (IOST):22 November 2019 Singapore Workshop Join the Institute of Blockchain for their 2nd IOST technical workshop in Singapore on 22 Nov 2019. The workshop includes IOST’s key techOKB (OKB):22 November 2019 St. Petersberg Talks “Join us in St. Petersberg on 22 Nov as we answer your questions on Crypto Security. “
Encrypted project calendar（November 27, 2019）
OKB (OKB):27 November 2019 OKEx Cryptour Vinnytsia “Join us in Vinnytsia as we journey through Ukraine for our OKEx Cryptour!”Fetch.ai (FET):27 November 2019 London Meetup “Join us on 27 November@primalbasehqto hear an exciting progress report as we prepare for the launch of our #mainnet”
Encrypted project calendar（November 28, 2019）
Horizen (ZEN):28 November 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.
Encrypted project calendar（November 30, 2019）
Ethos (ETHOS):30 November 2019 (or earlier) Rebranding “In November, we unveil the broker token, a dynamic utility token to power our commission-free crypto trading and broker platform, Voyager.”Digitex Futures (DGTX):30 November 2019 Public Testnet Launch “…We can expect to see the world’s first zero-commission futures trading platform live on the Ethereum public testnet from 30th November.”Monero (XMR):30 November 2019 Protocol Upgrade “Preliminary information thread regarding the scheduled protocol upgrade of November 30.”Chiliz (CHZ):30 November 2019 (or earlier) Fiat to CHZ Exchanges “We will add another two fiat to $CHZ exchanges in November…”Skrumble Network (SKM):30 November 2019 (or earlier) P2P & Group Calling “P2P & Group Video Calling,” during November 2019.Aergo (AERGO):30 November 2019 (or earlier) Mainnet 2.0 Upgrade Mainnet 2.0 Protocol update by end of November.Akropolis (AKRO):30 November 2019 (or earlier) Beta Release “All functionality has been deployed to mainnet.”Nash Exchange (NEX):30 November 2019 (or earlier) Mobile Strategy Phase 2 “Phase 2 of our mobile strategy will be live soon with our wallet and portfolio app hitting stores in November!”
Encrypted project calendar（November 31, 2019）
Wanchain (WAN):31 December 2019 (or earlier) Wanchain 4.0 Release Wanchain 4.0, which introduces private chains integration and multi-coin wallet, released in Dec 2019.QuarkChain (QKC):31 December 2019 (or earlier) Token Testnet Release Testnet for Multi-Native-Token and New Consensuses.
FUD Slaying: Why “DYOR” is More Important Than YouTube Videos and Internet FUD
Hello everyone, I am here to discuss the recent FUD presented by a relatively unknown YouTube reviewer. I intend to discuss his methodology and the actual points themselves. https://www.youtube.com/watch?time_continue=1&v=1hH5_FAEzyo This is his YouTube video based on the document in question. He wrote the document. https://docs.google.com/document/d/1XQlAGIDPjDoQNHtzEWGdbO9i8MUkc4lZFKYLTZzMpYU/edit First, to get this out of the way, the reviewer has only been around on the social media scene for a short while. The views of his videos are only in the hundreds and his twitter was created a week ago. He is basically a "nobody" at this point. I don't mean that to be disparaging. He literally came out of nowhere. He is unproven and his methodology is inconsistent and extremely questionable. With that said, just because he came out of nowhere doesn't mean he might not have a point, so let's look at his rating methodology to get a better idea of his process. Oh and if you do not want to read all this, here is the TL:DR: The guy doesn't know what he is talking about. He doesn't has much idea of what he is doing when writing reviews. His research is lazy. I actually feel I wasted my time responding to this, but I am going to do it anyway. When rating a project, he uses the following categories: MVP (minimum viable product), ease of research, team, roadmap, community (bonus), solving a problem, does it need blockchain, token use, red flags, competition, presentation, token vesting, demand/value, scarcity, customer service, best in field (bonus), active use, size of market, development (bonus) These are pretty good things to look at, but he failed to look at GitHub contributions (or other source code related sites), so he can't really tell if a project is scammy or not. So, how well did he check this stuff out? Rating the team: When looking at his review of GVT, the only way to get an idea of this person's methodology is to look at his reviews of other projects. When rating the team there are basically two basic routes a person can take. You can analyze the team itself, or you can bundle the team and the advisors together and rate the project as a whole. The reviewer is inconsistent in his reviews. In this category he bundles the entire team and advisors on some projects whereas he just looks solely at the team in other reviews. His research is absolutely lazy. He gave Polymath a 0 rating for their team, but their website links to their company LinkedIn page and lists all 26 employees. It was not hard to find this. Even if it weren't on the site, a simple google search would have revealed who the team is. Polymath has a great team with some decent “stars” on it. It makes no sense to give them a 0. The reviewer doesn't know what he is doing. Difficulty in finding the team deserves docking points in "ease of research", and it does not deserve giving the entire category a 0. The point of this category should be to evaluate the merits of the team members, which is something he does not do in most of his reviews. He gave Selfkey a perfect score stating: "Team: 20 Points - Superstar team and advisors" This means he is bundling the team and advisors together. If so, any issues with advisors deserves docking points from that category, not docking at additional 20 points because of one advisor. Looking at Selfkey, I don't know where the he gets the idea that they have a "superstar team". What does that even mean? I checked their profiles. Some of them only came onto the project recently and their LinkedIn pages are nothing to write home about. Some of them don't even have LinkedIn pages. He gave the GVT team 13 points, but then docked 20 points because he didn't like Charlie Shrem. Do you realize the ridiculousness of this? The GV team category effectively gets -7/20 points because the reviewer does not like Charlie Shrem. That is worse than giving the team 0/20. Charlie is only one advisor with no actual power over the GVT team's operations. He cannot execute any commands over the GV team or force them to do anything. The GV team can fire Charlie. Charlie cannot dismantle the GV team. That power balance is important. The rating makes no sense at all. Also, he docked the Changelly advisor because his company has bad customer service? Really? What does that have to do with his ability to advise the GV team on the things they need from him? Fact of the matter is his business is still running. The same cannot be said for advisors of other projects (more on that soon). If you are going to rate the team and include the advisors, the value should be 3:1 or even 2:1. Even if you gave the advisors a score of 0, the category score should not be that low. GVT's advisors are absolutely amazing. To call them weak is ridiculous. With regard to Nuls: "Asian team, isn’t on LinkedIn. No way to research." They get 0 points because they are Asian and don't use the sites you like to use? The language used allows that statement to be interpreted in a very negative way. There are non-Asians on that team as well. There is a way to research them. There are bios of each team member if you scroll over the pictures. You can then use that information to do more research on them. You are just too lazy. Looking at The Key, their members are definitely not "all-stars". Their team is unknown and they have 3 relatively unknown advisors, only one of which has a LinkedIn page. Love him or hate him, Charlie Shrem is a crypto superstar compared to these people. Interestingly they are more of an "Asian team" than Nuls. That didn't seem to affect the score much though. He gave the Bounty0x team a perfect score, but he obvious didn't bother to research every member of the team or their advisors with much effort. As an example, Terry Li is the Bounty0x solidity developer. If you check his LinkedIn page you will find a few serious red flags. He hasn't held a job for over a year. He has no visible programming experience. He has been a solidity developer for 10 months with no prior history or proof that he can program well. I cannot stress this enough: you do not want your solidity developer to be a programming newbie. This will spell disaster for your project. When you look at their advisors there are some serious red flags as well. I picked two advisors to research and I found out that both of them have had their companies fail. One of them even declared themselves unsuccessful in a Facebook post. I don't want a project to be advised by people with a bunch of failed startups. Changelly having bad customer service pales in comparison to advisors whose project's failed. Bounty0x's advisor team is filled with failed entrepreneurs and members of their team lack experience in the jobs they are assigned. Also, their "Backend and Solidity engineer" has only been with the project for a month, and his blockchain programming experience is nonexistent. They do not deserve a perfect score in this category. GVT has a team with years of programming experience, but more importantly, they have years of experience programming financial software. These are exactly the type of people you need on your team. To the reviewer: Either bundle the advisors into the team rating or give them a separate category. Do not be inconsistent in this category. Do not bring a team's ethnicity into play as a factor for anything. Please do actual research on all the members, and please define what it means to be a "superstar". Please learn to navigate websites. Polymath's team is there. Your inconsistency and lack of research in this makes you appear incapable of judging a team. There is no clear methodology here. All your reviews are questionable because of this. Roadmap: He gave 0 points to GVT for their roadmap being hard to read. But the key point is this: They have a roadmap. There is no reason to give 0 points in this category. Not only that, the roadmap is decently detailed with many goals and objectives. The roadmap isn't some simple points on a line like Enigma's roadmap. Speaking of which... He gave Enigma 0 points for not having a roadmap at all.... But they do have a roadmap. The guy didn't do his research. https://en.decentral.news/2017/12/27/ico-analysis-enigma-catalyst-realm-crypto-trading-machines/ It can be found here. MVP: Having a minimum viable product be worth only 10 points is ludicrous. Any project that has an MVP basically utterly destroys a project that doesn't. More importantly, the reviewer didn't actually bother to use the MVP on what he reviews. He gave Polymath 0 points for their demo, but gave GVT 10 points for theirs. I am going to be blunt about this. GVT's demo is a non-functional interface demo. GVT's MVP comes on April 1. Polymath does not deserve a 0, and GVT does not (as of 3/21) deserve a 10. They both deserve a 5. He didn't bother to actually check out GVT's demo, which goes to show he doesn't actually research things properly. He gave Enigma a 3 for an MVP not available to the public and Selfkey a 5 for an MVP not used by the public. Eh? He gave the Authorship a 10 for their MVP but claims he cannot find any info about them. How is that supposed to work? He gave Po.Et 0 points for their MVP because he couldn't find it. Here you go buddy: https://github.com/poetapp/wordpress-plugin It's right there. You just failed to find it. It isn't their fault your research is bad. Ease of Research: The reviewer either needs to dock points for research being difficult in their respective categories or dock research being difficult in this category. Do not "double dip" and dock points in both categories. This category is irrelevant since the reviewer already docks points in their respective categories. Also, this category is subjective because it is based on the reviewer's research skillset. Community: He uses coingecko's score or numbers from their telegram channel but there isn’t much evidence that he actually bothered to check out their communities much. Reeks of laziness and has nothing to do with the quality of a community. This really shouldn't even be a category if he is going to give points based on this. High telegram channel members has little meaning. Solving a problem: The reviewer’s inability to understand the problem that a project solves should not be held against it. Polymath is quite clear in the problem it solves. He gives projects that solve problems of identifying people a 10, but gives projects that solve problems of identifying intellectual property a 3. That makes no sense. Those are both problems that need to be solved by the blockchain. The idea that he finds one more important than the other is clear bias. Token Use: The author does not understand the GV product. GV is platform agnostic, and more importantly GVT needs as little outside influence as possible. There is a very specific reason why GVT has to be used in place of ETH. ETH would technically be a middleman in this sense. GV's success is not meant the be tied to ETH's success or ETH token price manipulation. GV's success isn't even meant to be tied to crypto's success. GV is designed to succeed even if ETH or crypto fails. GVT actually deserves a 10 in this category. GVT is needed to use the platform. Money is transferred using GVT. Profit is returned using GVT. Other services such as GV Markets will also function using GVT as gas. The utility of GVT is needed in all aspects of the platform. This gives the token great utility and investment value. If 1 Billion is invested through the GV platform, GV's market cap includes that 1 billion because the token is needed to transfer that 1 Billion around. This provides great incentive to invest in the platform and a great reason for the token price to grow in value. No other project that this much incentive or ways to bring value to their token as much as GVT. I am surprised the reviewer cannot see this. GVT is also market agnostic. The entire crypto market can fail and GVT can still maintain value through profits brought in from the Forex and stock markets. This will make it extremely resilient over time. Presentation: The purpose of GVT is quite clear. It is broken down on the website and the presentation clearly explains why it is needed as all levels of trust management including the brokers, customers and managers. All that info is very clear on the front page of the site. 0/10? GVT presentation isn't the problem here. It seems the reviewer only watched the video which is just one part of the presentation. Everything is on the site and in the whitepaper, which the reviewer apparently didn't even fully read. Token vesting: He colors it yellow for GVT but green for other projects that also get 5 points... visual bias is apparent. He gave one project a 10 for an 18 month vesting period and a 6 to another project for the same period with little justification for such a disparity. Supply/Scarcity: GVT receives 3 points because 44M tokens were available during ICO but only sold about 4M. This makes him believe that they didn’t create much demand. “Everyone who wanted GVT got it.” The US and Singapore could not participate. Also, Bounty0x failed to reach their soft cap, but the reviewer didn’t dock any points for that. If everyone who wanted GVT got it then the marketcap wouldn’t be where it is today. What a terrible assumption he made. Competition: He gave GV a 5/10, but his reasoning made little sense. “Covesting and coindash are used to trade cryptocurrencies while GVT is for cryptocurrency AND non-crypto trading. They will still compete for a portion of the same market. People will have only so much fiat to invest.” You do not use fiat to invest in Covesting or Coindash. Also, GV will allow people who are into stocks or forex to bring their money into crypto. No other coin is doing what GVT does. Covesting and coindash, arguably, are projects that try to compete against just one part of the entire GV platform. GVT is more than that and should have a higher score because there is basically no competition. There is competition for some of its features, but not for the platform as a whole. He gave Bounty0x a 20-point bonus for "Best in Field"... but they are the best because they have no competition. As a matter of fact, there is no reason for a 20 point "best in field category" when you already have a competition category worth 10 points. He gave Funfair a 5/10 even though he states "No competition in FunFair’s niche"... That would automatically make it the best in its field if it has no competition as well. Why does a project that has no competition effectively get 30 points (10/10 + 20), while another project with no competition get only 5 (5/10 + 0)? I will tell you why. It's because the author doesn't know what he is doing. Guy's I am going to be honest. I am tired of doing this. You get my point. His reviews are an inconsistent and poorly researched mess. I've written around 8 pages worth of content covering this. If there is anything else you need me to compare, please write it in the comment section.
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