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EDIT : Thanks to everybody for pointing out the few mistakes/improvements that can be made in this new-player level guide. For the sake of summarizing here : - Intel documents are NOT worth 250k. I didn't check them on the flea before writing this and for some reason I always remembered them at 250k. Game is in maintenance so I can't check the real price. That being said, it's still profitable to craft USB into Intel, it's just not x2 profitable. - Scav case : moonshine / intel docs, some people seem to say they've never been profitable. I personally *did not* measure those, I eyeballed it. I'm working on so much shit that I didn't bother. On average I think that I'm in a net positive, but it's as believable as people saying they're not : without proof we can't really say for sure. That bein said, it's certainly more profitable to run lower-tier scav runs that are *faster* when you're online, and to run a moonshine or intel when you log off. It's more efficient to get a lot of runs while you can re-start them every time. - Crafting moonshine : It's not profitable to spam it ; I was under the assumption that the average player who will read this will usually not play for 4-5 hours straight and will end up collecting yesterday's moonshine, craft a new one, and that's it. If that's you're rythm then yes, spam it. If you intend to play more than one craft worth's of time, then you will craft moonshine faster than you can spend it, and it's not really worth to sell it on the flea except to up your market reputation for a small loss (about 10k). So in short : craft moonshine to be able to start a moonshine run for when you log off, but you don't *need* more than that.
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Here is some actual data on the lavatory !! Hey everybody ! I know it can be a struggle to get a stable economy in this game, especially when you die a lot. Today I'm gonna try and give a few guidelines on how to make money safely, efficiently, fast, or in any other way we can think of. If you're struggling to stay above the 15-20 million rouble treshold, this guide is definitely for you. Very often I'll hear newer players say "Damn I can't seem to make money, I keep loosing. Every time I take gear I die instantly". There is some truth in that. Today I'll help you improve your survival rate, but most importantly I'll unbalance the other side of the equation. When you complain about losing a lot of money, I will help you spend less by a significant margin, as well as earn more. You'll also get rid of gear fera naturally. Remember this throughout this very, very long read : It all depends on how you want to play, and how much. Some of these tips will not fit how you want to play the game, and like Nikita always says : this game is supposed to be fun before anything else.
Safety Score : 100% Reward : Moderate but very stable. Maxing your hideout should be one of your top priorities, probably before telling your mom how much you love her every now and then. If you're not doing either of those, the big gamer in you knows what to do. Early wipe, save your fuel for when you're online and playing. If you're playing, your generator should definitely be running and all your stations should be crafting something. Once you have Medstation 1, Workbench 1 and Lavatory 2, you really have no reason to turn your generator off when you're playing. Once you have the bitcoin farm, you should never turn off the generator. Medstation : Craft salewas and/or IFAKs permanently. They cost 8k and sell for 15k. That's a net profit of about 25k / hour for salewas, as well as never having to buy any. Lavatory : Always be crafting Bleach. If you have 2 empty blue fuel, use those empty cans to craft a Magazine case. You can then keep the magazine cases until you've enough for your liking and sell those for a good profit. The bleach you will use to buy the 6B47 helmets which are better than the SSh-68 helmets. Buying from 2x bleach barter at ragman level 1 means you get the helmet for 18k (instead of 33k on the market). This helmet has better head coverage, less slow/negative effects, less weight, has a slot for a mount, has +11 ergonomics AND is cheaper than the 22k SSh-68. That being said, it has a slight noise reduction that the Ssh does not have. If you wear headphones I'd say this is negligible but debatable. I prefer to have the extra protection and ergonomics for sure, considering it's slightly cheaper. You can also barter for that helmet and instantly sell it back for a profit (five times) and level up ragman money requirements. Bleach can also be traded for the Blackjack backpack at level 4, as well as the TTV rig at level 2. You should definitely do it. Sell excess bleach on the flea market when the prices are around 10.5k or more. (around midnight Central European Time). Workbench : You can buy Power Cords and craft Wires forever and always make a profit. Buy in the morning and sell in the evening for better profits (CET timezone). For even more profit, you can craft gunpowders and ammo which tend to also be ridiculously pricy at night. Buying grenades from Peacekeeper and crafting green (Eagle) gunpowder is a good way to make a lot of money and level up Peacekeeper. Intel Center : You main objective is to get this one to level 3 for reduced fees and better quest rewards, but also access to the bitcoin farm at level 2. If you need FiR for quests, craft that. When you're done craft Intel Documents at all times (buy the USB), and use it for scav case or sell for a x2 profit. ( 3x40 for USB = 120, documents sell for 250) Bitcoin Farm : Once you have it, spend all your money on GPU until its maxxed, then level it up even more. The BTC farm is definitely worth it. At 50GPU you need to connect every 15 hours to clic. If you can't, keep it level 2 and connect every 24 hours to clic. Even at level 1 its worth. But its much, much faster at higher levels. From 0 to 50 GPUs it takes about 30 days to pay for itself. GPUs should not be sold until you maxxed it. Water Collector : Must be running at all times. Buy the components if you don't have them. Booze Generator : Must be running at all times. Buy the components if you don't have them. Scav Case : Always have it running on moonshine, and use intel documents once you're done crafting one. Nutrition Unit : It's not really worth crafting sugar to put in the Booze gen, as the price for chocolate is pretty much = the price of sugar. So buy the sugar instead and craft something else. I tend to craft Hot Rods when the prices are good (morning) and then use them to barter 5.45 BS Ammo with Prapor or sell for a profit. If you do all that, you should have about 150k an hour fairly easily. Don't forget to check it between every raid.
Safety Score : 100% Reward : Quite good. Once your mom has received all the love she deserves and your hideout is taken care of, you should have max traders (traders are a requirement for most of the hideout anyway). Traders level 4 will net you much better prices on most mods and open very good barter trades. Buy as much as you can from barter trades. You can buy almost everything from it, and it's usually at least 25% cheaper to buy the requirements and then do the barter. Ragman4 has the CPC Armored Rig which is level 5 armor, you'll get it for about 200k instead of 250k on the flea. The Slick is also much cheaper. The Blackjack backpack is literally half priced. You can also NOT use what you barter and just sell it back to a dealer (sometimes the same from which you bartered) for a profit as well as having 2 times the loyalty money increase (from bartering then from selling). Another good example is buying a Recbat 14k from the market, getting an ADAR for skier, selling it to Mechanic and winning 8k just like that. You can find every single barter that nets a profit yourself and just buy-resell and you'll probably make another 100k every reset, if you really are struggling and have the patience. I personally advise to just use the equipment for yourself unless you're levelling traders, but I wouldn't go as far as buying all profitable items every reset. Every trader at every level has good barters. You can make a full decent kit at level 1 traders for about 40k roubles on barter, instead of 90 if you buy it all. (Paca for masks, helmet for bleach, ADAR for recbatt, salewa from craft, backpack, etc. all barters) Bleach is beautiful and is coveted in the real world for its ability to cure diseases.
Safety Score : 100% Reward : Very profitable. Don't mod out of your reach. Don't mod Meta. If money is an issue for you, having +1 ergo won't change your life. For example, Priced at 10k roubles Priced at 45k Roubles See where I'm going with this? If you have money, sure, go for the Shift. If you wanna have fun and try, sure, go for it as well. But if you're struggling, buy 4 cobras and mod 4 guns for the price of 1% recoil which will not make you a gamer god anyway. Also, do NOT buy mods from the flea market when you see you can buy them from traders. Look at the top of the market, if the mod is greyed out, look at the price. It means you don't have access (yet). If the price is too inflated for you, find another mod. There are always other mods. You can make 2 AKMs that have a difference of 2% recoil and 4 Ergonomics and have a 150k price difference. It's up to you. When money is the issue, this was the answer. Note : Some guns are inherently much more expensive. Guns shooting 5.56 or 5.45 tend to be more expensive than 7.62. AKMs are VERY good budget guns. They're a bit harder to handle, but you can get a fully modded AK for 150-200k, where as you will have an entry level M4 for that price. 7.62 PS ammo is also incredibly cheap while being decent. Play 7.62 if you're struggling with money. It's not meta, but it's far more than enough, trust me. You'll rarely lose fights exclusively because you had PS ammo in an AKM. Rarely.
How much you usually extract with, on average, per map
How much you usually go in raid with, on average, per map
These will help us measure how much you fuck up or not. Lets make it simple. If you have a 500k loadout and you usually extract with 100k, at 10% survival rate, that means you will spend 500k x 10 = 5.000.000 roubles over 10 raids on average, die 9 times, and earn 100k once. This very obvious example shows the loss. Basically we're gonna try and balance that equation so that you never lose money on average. You'll have ups and downs obviously, but over a week or two, it'll smooth things out for you, like math always does in a pleasant conversation with a girl. So what can you do to improve that equation ?
4.1 Improve survival rate
Seems simple enough, DIE LESS. You do not need to be good, smart, or special to die less. If you die a lot, do something different. If you die less, try more of that. Explore statistical advantages through different gameplay. What can you do to die less practically? Here is a list of checkboxes you can tick depending on your money, skill, mood, or any other factor like the map and sheer luck:
Fight from a bigger distance. People miss more from far (so will you, but killing less is irrelevant when you want to die less)
Fight with better gear (supressed, better armor, better ammo, etc.). Its expensive, but it technically helps
Don't fight at all. Avoid fights, run away from gunshots. 99.3% of people who didn't get shot survive a raid.
Wait more, play slowly. If you go with the flow of players, you'll be with the players. Avoid that "wave" and stay behind it. When you come across players trying to extract to where you spawned, hide.
Play with friends if you have any. If not, your mom loves you and so do I. I do coaching so do a lot of other decent players, look it up.
Whenever you die, look at what killed you. Did you take a risk ? Did you lack skill ? Were you out of position ? Were you unlucky ? Try to be as OBJECTIVE as possible even in the frustration. It's pretty much always your fault if you died, avoid toxicity and learn something from that instead. If you took a fight with good gear and ammo and just lost, its probably skill/positioning. It's fine. Learn the game, fight differently, and with time it'll get better. If you were in the open, don't go in the open. If you were sprinting in the middle of interchange and got ambushed, well. Don't do that. Learn.
Do all that, it'll give you a LOT of data to actually improve by just doing something different without really being fastestronger, just smarter. And I repeat : you can do some of it, all of it, it depends on what you like, what you're comfortable with, and the time/investment you're putting in the game. It's okay to play at your own pace.
4.2 Reduce gear cost
The second part of our "profit equation" above is how much gear you take with you. Using previous tips, reduce that cost. Barters, cheaper mods, etc.
4.3 Increase extracted value
This one is not as tricky as it sounds. Basically there are two ways to extract with more money in the backpack :
Know what/where to loot
Have a bigger backpack.
The goal is to pay for the gear you will loose when you die while making a profit on top. That one time you extract if you have a MBSS backpack, you'll need items worth like 50k per slot to break even. If you take a tri-zip, suddenly it's only 30k per slot. If you take a blackjack and blackrock from good old ragman, suddenly it's 10k per slot. So you can break even by looting crickents and DVD players almost. See where I'm going ? Always take a tri-zip or bigger unless you're doing something special. That way you can afford to loot shitty areas, take less risk, and survive more while having a little less value. We'll cover that in a minute, but there are ways to loot high value items, moderate value and low value. Those have also different risk/reward. All of those are also map specific. In woods I'll often go with a 6B3TM armored rig for 40k, no helmet, 20k headphones and a sniper rifle. Rest is pouched so does not count. That's less than 100k investment. All players tend to have low value gear so I never extract with a lot either so it balances out. But on Woods, my survival rate is 20% instead of my overall 40%. So I know it's not a map I can reliably make money on, because I measured that accurately over time. This example is very common and should make sense to you. Same goes for interchange where I have more about 50% survival but will tend to go in with 600k worth of gear, but will also often extract with over 500k quite regularly. Different ratios, different values, different purposes. You can measure your own data if you're willing to do so, or you can eyeball it. Eyeballing it is much faster but very inaccurate because you will tend to include emotions in the mix when you die. You'll remember losses ~2x more than your wins (that's somewhat scientifically proven), and if you're eyeballing your loadout you might think you have 600k but really you might have only 450k. I would advise to go hardcore and measure it all for price, initial loadout, losses and earnings, for each map.
5. Money runs
Now money runs are vast and numerous. All include different levels of risk and reward. It's up to you once again to find what you're willing to do for the time it takes, the fun it will give you and how much it will actually help you. You can always try them all for ~50 raids the sake of trying something different and see how your data is impacted. it doesn't have to be 50 in a row if you don't want to. As long as you keep track of it it can be over a whole wipe. You'd have your data ready for the next wipe :) Faster is better though.
5.1 Hatchling runs
Safety Score : 100% Reward : Very Variable. Mentally exhausting. Those are incredibly money efficient. You're investing a gear of 0 value, so whatever you extract with is 100% win, so you cannot possibly lose money that way. Is it fun? Is it rewarding? I don't care, to each is own. Statistcally speaking, hatchling runs are an efficient way to make money. They do however require a little bit of knowledge, but not skill. You'll be much more efficient at doing these kind of runs if you know where to go, what to look for, and how to get there depending on your spawn. That being said, such knoweldge is easily found ; it's nothing complex, it just takes time to learn. Once again, depends on how much you're willing to invest (if not roubles, time).
5.2 Scav runs
Safety Score : 100% Reward : Low-ish Scav runs are also incredibly efficient for the same reason as hatchlings. Except those have a cooldown. Statisticall speaking I have noticed you should always run your scavs as fast as possible on the map where you extract both the fastest and most frequently. The explanation is simple, lets make it simpler : The scav is a button that makes you earn free money. When you press it the button becomes unpressable for some time, when you release the button you earn money (sometimes). That means you want to release the button as often as possible. And for that, you need to release it as fast as possible. It's that simple. So make scavs incredibly fast. I'm talking "Run through" fast. Unless you're looking for FiR items or doing something specific like annoying a streamer, you should literally run straight to the extract every single time, and loot what you have that doesn't make you go out of your way too much. Usually I suggest factory, go in, kill a random scav, loot it, get out. Two weapons is at LEAST 50k, 100 if they have a scope. There you go. That's 100k every 20 minutes (or less with intel center). That's MUCH BETTER than going up to 150-200k but taking 30 minutes to extract, and taking more risk by spending more time in the map. Every second you're in someone can shoot. Nobody can shoot you in the hideout. The exception to that rule is Scavs with a pilgrim which you can take on your favourite loot-run map, probably interchange or reserve. There you should just fill everything you can and extract once you're full, no matter what you have. 30 crickents and an extra gun is fine.
5.3 Stash runs
Safety Score : Very Reward : Okay Those are very very safe and can be done with a pistol and a backpack only. Very cheap, quite unchalleneged, for a moderate reward. Just go on a map that you like and run around and loot all stashes until you're full, then get out. You can vary the map/route depending on the traffic of players. Interchange and shoreline are good contenders for that. It'll net you easy money. Not great money, but definitely safe.
5.4 Loot Runs
Safety Score : Moderate Reward : Quite alright Once you have better knowledge/skill you can start having a specific route in a specific map, depending on a specific spawn. So it'll take time to learn. Usually very similar than a hatchling run except this time you bring moderate gear and go for moderate loots. For example, instead of going for fast techlight, in-and-out interchange, you can decide "alright I'll loot 100% of Oli and the computers in the back", it'll take time, but it'll make good loot. More money than stashes, definitely will see scavs to kill, and most probably some more pvp. More risk. If you win that PvP you have even more loot as well. But overall good reward. Loot runs need to be "scheduled" and thought of after several tries, so you know how much you can take per person depending on backpack size. For example you can't say "lets loot oli" if you have a 5-man with blackjacks, you'll all be empty. Adapt.
Safety Score : Insane Reward : Unreliably moderate This one is pretty obvious. Very risky, unpredictable rewards. Usually better than loot runs when you survive. I won't elaborate on this, because if you're reading this far you're probably struggling in PvP. And the rest of this guide already covers a fair bit.
Safety Score : "Meh" Reward : Very profitable. Now this is very, very important. Always insure your gear. Always. If you die you will get stuff back, pretty much for free. If you're really struggling people won't loot your "trash", so you WILL get it back. If you play in a group it's very likely that people will hide your stuff too. And most importantly : you can insurance fraud. This is the best way to balance the equation we talked about earlier. If you find a decent-ish gun, replace yours. You drop your initial investment by a significant margin, you will definitely get it back, and if you extract it's a flat profit. Weapons don't take inventory slot, so if you have two weapons that are not yours initially they will usually pay for your whole gear. I have quite often left my super-mega-modded HK just for an average M4 or other weapon that I can fight with, just so I can reduce my investment by 350k and up my reward by like 200k instantly. Replace your headphones all the time too, that's an easy -30+30k, same with helmets. even if it's a bit broken or slightly worse. If you're struggling with money, try to leave every raid with at least 3-4 pars of your equipment that aren't yours initially. But value the risk behind this. I won't leave my slick for a Paca at the third minute of a raid just to have that extra 28k. I won't leave my meta-modded HK for a naked mosin. But if it seems decent/doable, do it. It will pay off. Because even if you die, you still get your shit back, and gun is usually the most expensive part of the gear.
7. Final notes
It's all about balance. Find what works *for you* and try shit out. Really, try. You'll die, you'll learn, you'll adapt with data to back that up. I find it crazy that people will die and not try to learn from it. That's how you will improve as a player. First you gotta get smarter, then you'll get better. And with time, skill, mechanics, gamesense, all that will improve on the side. Earning more will snowball in your favour. And if you know you're statistically okay, you will have a much smaller gear fear and enjoy the game more. Sorry for the wall of text, you guys should be used to it with me by now :D I made these guides in video but not in english, so here I am typing it all for you guys. Enjoy :)
Something occurred to me last night. The grind up to higher level traders really sucks - you have to use poor gear and poor ammo against people who have access to far better stuff for effectively the same price. Before the flea market change, you could just buy the flipped items for a small markup, but now it's impossible for a level 20 player to buy a threaded 5-7 barrel, or magazines for that 5-7, or even just 20-rounders for that cool SR-25 he grabbed from a raider. The game all but forces players below a certain level to sell those items to the vendor, and they cannot use them. But we can still use Fence. Players like me, who have tens of millions of roubles floating around and a hideout that keeps adding to them, don't need the 30k of net loss that happens when we buy 10 .308 pmags and sell them straight to Fence. But that simple act will make someone else's day, because suddenly he can use guns that he otherwise would not be able to. It's like this for a lot of items. Some items, like 5.56 magazines, aren't really needed since they can be bought from level 1 traders, or others may be commonly found in raid and thus readily available on the flea market. So, here's a list of some items I've thought of that casual and new players would really benefit from having sold to Fence.
30-round 7.62x39 magazines
20-round 7.62x51 magazines
Face shields (including damaged ones)
M855a1 (just sell 200 to Fence, it's like a 30k net loss. Other high tier ammos too, but those get to be pricier)
Five-Seven magazines and threaded barrels
HK E1 stocks
Advanced buffer tubes
RK-3 pistol grips
RK-2 vertical grips
MP7 30 and 40 round magazines
9x19 AP 6.3
Lantac Dragon muzzle brakes (ESPECIALLY 7.62x39)
I'm sure you can think of more, too. But yeah, I figure that my Bitcoin farm can really help some people out when I start dumping all of these into Fence.
Global internet / internet everywhere is being worked on with Space-x "StarLink", thousands of satellites connecting everyone globally to the internet. Therefore infrastructure for the digital currencies,
Too private makes it ideal for illegal activities. / Can't be controlled as easy, taxed as easy.
All of the above is a partial list of factors devaluing the Dollar and trust in it from several ways and views. At the end of the day it has a huge amount of enemies, that are all looking for ways to get out of it. Some of what I'm seeing personally.
Prices are outpacing wages.
Education is required for a good job vs how things used to be, jobs are getting more technical for same wage value.
Real Estate has been rapidly climbing in price, even homes that haven't been remodeled. A $80,000 home in my area is now $180k in the last 6-7 years. Wages haven't moved.
Rents have been climbing with the real estate prices.
Taxes have increased on said real estate
Insurance cost are up
Repair costs are up
It is a death spiral for the working person, where it used to be "No more than 30% of your wage going to housing" It is now well over 50%....Just look at this recent post in Frugalhttps://www.reddit.com/Frugal/comments/ifqah1/is_it_normal_for_a_third_to_a_half_of_you?utm_source=share&utm_medium=web2x&context=3 This death spiral I foresee getting worse. And historically any "tax" / regulation cost will just be passed down to the consumer in form of increased prices until people / businesses move elsewhere as we've seen in several cities around the US. So what can we do? Buy Gold! Silver! Bitcoin! Stocks! I hear people roar, They aren't exactly wrong as history shows... but have you considered the 30-40% tax on the "gain"? Even when that asset buys the same value before tax? What if the government makes it illegal like the 1933 order: 6102 Where you couldn't own gold for nearly 50 years? You're frozen out, or even out on taxes (which will likely be more strict and controlled later in time). I'd say Invest in things that will
Help you be independent
Can help you save
That you will use anyways in normal living
Things that can be productive not only for you, but for others $
Bonus points if its easy to trade off / has demand
Extra bonus if it is durable (lasts many years)
Helps your health
Metals are the next step when a person has plenty of the above. You get to a point where you have hundreds of thousands, if not millions that you need to condense into something real. It is all about the savings or productivity gain of the investment. For instance I would wager that many preppers have gotten more use / value out of a $800 clothes washer than a $800 rifle. (have you ever had to do manual laundry???) Sure the rifle will hold value...but it often doesn't pay you back with time / what it saved and / or what it has produced during its life unless you are using it. Same can be said of security cameras, a generator, a tractor, trailer, garden, tools, ect. Look at history even, in countries that have experienced hyperinflation people that already had tangibles they regularly use were way ahead. It could even be honey, a tool, extra maintenance parts, can of food, that bottle of medicine, a computer to keep your intel on point, (cough # PrepperIntel plug) use of your equipment to do or make something for someone. Real Estate is good too, it rides inflation well and has many ways of being productive. Your metals could be sitting there like the rifle, and could be subject to hot debate and laws. Meanwhile that garden is paying back, chainsaw is helping saw up wood, or your tractor is helping a job, your tools just helped you fix something / saved you much loss, Your security stopped a loss not by a person, but an random animal stealing things. Or that $25,000 solar array is paying you back by the day in spades...while making you independent...running all your tools you're using to make things to sell, and even heating / cooling some of the house with the extra juice while places around you experience rolling blackouts. You were even smart and took the current 24% tax benefit the government has saving you $5000 on it for batteries. Don't get me started if you have an electric vehicle with solar... I'm rambling at this point...and all those stealthy / direct and passive background savings...even if the crap doesn't hit the fan. So anyways, With out of control central banks and big governments, digital currencies, How do you think it will play out? Are we heading to dystopia?
How to start making money/profit easy if you are a newbie, and you are disoriented. (CUSTOMS) Plus: Budged Loadout that works well against any type of player/gear.
First of all, this guide is for starters, and is focused on the Marked Key room of the Dorms in Customs, where is the most valuable items in this map on most cases. Before this guide, you have to learn the map, the extracts, etc., but I will make a summary anyway. The items that can drop in this place are, for example: *Weapon Case * Document Case *Money Case * Keytool, (this ones you can sell well, or you can keep it if needed) * Weapons with value worth 50k-100k roubles (AS VAL, SA-58, TX-15, VSS, HK, M4, etc) * and ammo (sometimes m995, m61 and igonik that are quite expensive). Ok, let's get started! First, you must buy the Markey Key Room, for the Marked room in Customs on the flea market, it’s 70k-90k worth (sometimes), Check always that the key you'll buy IS 25/25 USES! Don't worry about the price, it’s cheap and it pay itself very fast. Marked Room Key Second point: Learn the map, very important info. Your spawn needs to be favorable to get to the dorms first, or at least second, if your spawn is far from dorms, you have to change your objective (hunt the scav boss, do quests, farm scavs/hidden stashes, join other pmc's fights), you can pass through the dorms anyway but it would be looted most of the time, you can get lucky tho, If you have a favorable spawn, stick to the objective, and don't lose time. RED BOX: BAD SPAWN - BLUE ARROW: GOOD - DECENT SPAWN: Customs Map with references. Third point: Rush the 3 floors dorms (where the marked room is) and go straight to it. (Third floor, last dorm in the right with the marks and candles) Tip: When you reach to the door of the marked room, don't open it, go outside behind the marked room, and watch through the window (you can hold C and move the wheel of the mouse to stand or crouch slowly so you can watch clearly what's inside the room, sometimes stuff inside aren’t worth it, so you won’t spend your key in useless stuff). When you realize the loot inside is valuable, go and open it. If the loot is worthy, but not so much to get hyped, don't open the door and roam a bit. If you reach first, wait for other player to come, and ambush them, try to not make noise and hear (wear contacts if you can), with a good positioning and nice aim you can take down players easily. Always take care from the 2 story dorms because there, other players have a good sight of your building. Marked Room from the 3rd story Dorms, in the third floor, last door right side. (with the marks and canddles) Window behind the marked room where you can see the loot inside, before open it. Fourth point: If you get some juicy loot from the marked, or also a player, you need to make your escape fast. A tip if you are been surrounded and get trapped in the marked room: you can rush to the roof and jump from there to a fence (so you don’t take great damage) and escape. I highly recommend to always take 7k roubles in your secure container to use the Dorm V-ex Extract if you are with some very valuable loot (weapon case for example) and you don't want to risk it. Sometimes this saves your life If you spawn in the side of the Crossroads extract (Because de ZB-1011 extract is so far), meanwhile, If you spawn to the other side, almost always the "Smuggler's Boat" Extract is up, and is really close to the Dorms, you can take that risk If you want. Place when you can jump without taking much damage if you are surrounded in the third floor, in the 3 story dorms, Customs. Always fall in the fence. DORMS V-EX - Extraction behind 3 story dorms that you can take if is up, you need 7000 roubles, and takes 1 min to extract (hide behind the red gate and get in the car when is 10 seconds left to not expose too much) Dorms V-ex Extract second Pic. Get close to the car and press F to pay the extract, then wait. Fifth point: Maybe you will fail the firsts attempts or get so lucky that no one rush the dorms and you get some really good loot. Expect the unexpected. This is random, but most important, do this a couple of times, and you will learn how to fight in the dorms. Learn the better spots, do quests meanwhile too, that’s not a waste of time at all. With time you will know If there's people inside of the dorms or not. Your hearing is your best friend (mainly if you are solo player, stealth is your advantage). Mark spots, play sneaky, play smart. Don't rush. Important Info:Scav Boss usually spawns in the 3rd floor Dorms (where the marked room is) but not so often, and If you go straight to the third floor, isn't likely to be even a guard in that floor, but there's always a chance… If you want to ignore him, rush the third floor through the side stairs and take a look, you call if there's a guard or two (even the boss) and you want to fight him. Scav boss can spawn in the 2nd floor Dorms too, so take care giving your position through the windows in the 3rd floor Dorms because they shoot you at sight and have sick aim from long range. Scav Boss Bodyguards (Scav boss gang) they protect the scav boss Reshala. Reshala, the Scav Boss of Customs. Spawn: 3 story dorms, 2 story dorms, gas station. Always been guarded by he's bodyguards, good loot. (bitcoin, keycard, weapon, meds) BUDGET LOADOUT TO RUSH THE MARKED ROOM AND FIGHT PLAYERS. (WORK AGAINST WELL GEARED PMC'S)
SSh-68 HELMET: best helmet quality=price, high ricochet chance, LVL3, can save you many times!
About next FLEA changes and RMT (yes, one more post, but you will like it. Or not)
Okay guys. (trailer: First of all i wanna apologize for my english, hehe. Its not my main language and i will do a lot of different mistakes in words or sentences.) This is a new(one more roflmao) thread about FLEA changes in next wipe. To keep you in this discussion i will open my cards first: i am RMT seller. Yes guys, im a man, who selling items, stuff and currency to other players in EFT. You can blame me, shit on me here, do whatever you want, but the fact - i don't care about your opinion here. Deal with it, we are exist. Also i wanna warn - im not a speedhackewallhackeaimhackebotter etc. If we will exclude my RMT side - you will see the same regular player as all of you. Mb he spent less time in IRL (because i was need to farm 12/7), but he is a still regular player. Running in raids, shoot other ppl, win fights, die in fights, loot stuff, sell stuff on flea market and etc. And i came here not to advertise RMT (that's important thing - i don't recommend to buy currency in game, when you getting in it first time). But who cares about my opinion. Customer wanna get stuff - i selling stuff. I came here, because saw a lot of ppl in different threads, who think, that new system in flea market (you can't sell stuff from PVP result, and can't sell stuff if you "run trough") will someway affect RMT and did it harder. And because they think, that "run trough" changes will affect hatchlings(here i calls pistol mans too) runners. No guys. You all wrong. That will affect all regular players, and affect hard as fuck. But not the RMT. And not the hatchlers. To explain my position we need to come in EFT history and look for some points:
Before Flea market there was not much sellers, also not much customers (compare to nowadays ofc).
But the fact is - sellers trade money/items trough raid. Im sure a lot of you saw clips about killing 2 ppl on the factory with money/item cases in bags near extract point or on spawn. Ye, that is was the way to transfer without flea. I dunno what's cost of stuff was, but it doesn't matter much, because price changes from wipe to end-game, as from high to low. Not need to be Einstein to understand that. Also there was some naked guys who run in to 310 (as example) room for bitcoins or lions. Not much, but they was.
After flea market appears - RMT grow a bit and becomes easier, sellers able to trade trough market (i won't explain how and with what ways, you understand why xD ), so it makes a bit easier to do deals. But money transfer trough raid still exists, because you save currency from flea's FEE. You pack roubles in to doc-cases and drop to customer, im sure a lot of you did it with your friends and it looks normal. Price of RMT floated as usual - from high to low, from wipe to end-game times. Still regular situation. Also amount of naked-hatchlers grow as fck. (remember a days, when LEDX was added to shoreline? or a days, when reserve was released and streamers explored a best-loot-routes for naked guys?)
BSG limited money, that PMC can carry in inventory ( you can't take more than 200k roubles in any PMC's slot). So sellers lost their way to drag-n-drop currency to customers in raid. And do you know what happens with prices? They FUCKING GROW UP x2-x3 times. Yes yes, you read it right. For example from 1$ usd / 1 million it becomes 2.5-3$ usd / 1 million (its not current prices, just as example for low-brain ppl).
And RMT becomes VERY-VERY-VERY effective, because you still spending SAME time to get in-game currency, but customer pays WAY MORE(much?) for it. Yeah guys, when Nikita think "hey, we will stop them from trading money in raids, RMT will die", situation becomes for us, sellers, MUCH better. He just increased price of items and currency during mid-wipe time. But regular players now have a problems during folding currency stacks trough PMC's inventory, lol. More mouse movements in stash. Anyway thank you, Nikita. Also new weight-system changes amount of hatchlers, it's grow again btw. And here we go in-to the main thing, that i wanna talk about:
If BSG will keep that changes on flea market, when you can't trade stuff for currency without FIR mark - it will increase price of currency and items much higher, than was whenever(i mean in IRL ofc) And customers will still buy it. And sellers will still have ways to transfer items trough raid (remember "1" point what i talked about?). Yes, we won't able to deliver currency in any way (im sure we will, its not hard to find a hole in the system), but we will able to transfer armors, guns, cases, ammo and other stuff. Its not a big deal - to run trough night raid on non-popular server with items in case, using night-glasses and flireaper. So. RMT will still exists. We will just come back in the days, before flea. Not a big deal, actually.
The price of all items will fcking grow (i mean in-game price). Yeah guys. For example: you won't be able to buy 995 ammo for 1.8k roubles (that's the price now?). They will cost x2 higher. Because the amount of bullets(and other stuff too) on flea will dropped down dramatically. Because when sm1 will kill me in raid with my stuff (i prefer to use HK loaded 995) - he won't able to sell my 995 on flea. As bought ammo from traders too.
He will able to sell bullets from crafting table, but all components, that needs to craft 995 (green powder and FM OFZ shell) will grow in price too -> price of ammo grow. Or price of the killa's armor. Or slick. Whatever - price of every loadout item will grow. Also low lvl players won't able to buy any good helmet from flea market (you can't craft airframe/exfil, roflmao). And here is result of these changes:
People who can do good pvp fights and spend a lot of time in game - still will be with money, and use best gear (do you remember, that lvl 5 and lvl 6 armor can be looted still from raiders/bosses?)
When the rest, and biggest part of players - will just suck a big carrot. To beat a geared man you need ammo. To buy ammo you need currency and trader's level. To get currency you need to sell stuff. To grab stuff you need to do successful raid without any PVP fights. Looks hilarious, when you can spawn on map and die in 10 seconds, because spawn points are shit. And points of interest on maps are always same (kiba's store/marked rooms/rooms with PC/rooms on shoreline and etc etc etc), that results to same pvp-fight places.
Hatchling guys will still exists. Do you know why? Because THEY DON'T NEED TO SURVIVE IN RAID. Just look: "you can't sell item on flea market without FIR mark. Player will lose FIR mark if he will do "run trough".
Okay bro. But "run trough" is not the same thing, as "die in fight". And naked-hatchlers not need to SURVIVE and finish the raid. ROFLMAO. They need only: loot item in pouch, die from scav/drop from roof/die from barb wire and etc etc etc. Hilarious, don't you think? They still can grab gpu/ledx/red-card and die from scav, to sell it on flea market. ROFLMAO. FOR WHAT THESE CHANGES ARE? They affect nothing. At all. IF they will change "die without enough XP points will affect items to lose FIR mark" - it will again AFFECT REGULAR players. Just imagine - you loot an morphine/saleva/tushonka/blablabla for quest from hidden stash and was sniped by any playe or was unlucky and died from scav in the beginning of the raid.. your item lose FIR mark.. for no reason. Or you found (or spawned as SCAV with) a red-card and wanna trade it on flea market. But you understand - if you will die - you will lose that option(losing FIR mark again). And here is a stupid situation: you need to extract, but you need more XP to be "not runner trough". So you need to loot/fight more to have an option for selling red card. Creating artificial risk for players, with no-reason. Again - looks hilarious in current state. Hardcore game, that declares "don't fight without reason" just pushing players to fight, to get XP, for successful finishing raid. ROFLMAO. Think about it, its a "look from other side" here. That changes does not create any "hardcore state" (a lot of ppl played without FLEA and that's still not a hardcore state, roflmao) as it should be, no problems for RMT. No troubles for naked-runners. Only new troubles for new regular players, without any logical reason. If bsg wanna limit "end-game" loot for all players - they should rework all maps, raiders and bosses. (like AI brains, chance of spawn, size of maps, etc etc) But not limiting FLEA market selling PVP stuff. Also remove FLEA market from the game. You can agree with my opinion, or disagree, i don't care, but price of currency will show us who right xD. Gl in da game, wish you more GPU-LEDX-REDCARDS into your pouch.
The attempted come back of CoinEx, China's forked-Bitcoin exchange
Written by Shuyao Kong Published bydecrypt.co An interview with Haipo Yang, a crypto OG who’s trying to reposition his Bitcoin Cash-based CoinEx exchange. And more, in this week’s da bing. https://preview.redd.it/h5f3i3lldv051.jpg?width=3200&format=pjpg&auto=webp&s=09b8696303ae5c6170753cc438929ebe520d4605 Haipo Yang, founder of ViaBTC, one of the largest mining pools in the world, and CoinEx, a crypto exchange known for its focus on Bitcoin Cash-based trading, is a well-known but relatively quiet character in China’s crypto circle. Typically, Yang doesn’t talk that much about his journey launching the mining pool, nor about CoinEx, which launched in December 2017. And he almost never speaks about his fervent support for BCH, a hard fork of Bitcoin, and his now even more enthusiastic belief in BSV. Yet that’s changing of late. Yang has been more active in recent months, participating in interviews about CoinEx and tweeting more frequently on Weibo, China’s Twitter. He’s been making controversial statements predicting the death of BTC, while supporting BCH and BSV on social media. Recently, Yang told me that as a developer rather than a business person, he’s never been comfortable speaking in public. However he’s making an effort now to help publicize his renovation of CoinEx. So, for this week’s da bing, I decided to chat with him and get a peek into the mind of a veteran crypto entrepreneur who’s trying to make a personal, as well as a platform, comeback.
CoinEx’s golden opportunity
The first hard fork of Bitcoin occurred in August, 2017 and created a new cryptocurrency called Bitcoin Cash. The fork was prompted by partisans, including Yang, who wanted bigger block sizes on the blockchain — the basic idea was that bigger blocks would enable more transactions per second and make Bitcoin Cash something people would actually use to buy things, rather than Bitcoin’s more commonly perceived use as a store of value. Yang added a tremendous amount of value to the mining scene in China. As a technical founder with has years of experience in big tech firms such as Tencent, Yang is proud of his #buidl skills. He developed most of the code in the early days of VicBTC, which became one of the biggest mining pools to this day. Not satisfied with owning just a mining pool,Yang conceived of CoinEx, which was born in December of that year, specifically to carry on the mission of the newly forked Bitcoin Cash blockchain. As he got swept up in Bitcoin Cash enthusiasm, he even said that “BCH is bitcoin.” CoinEx’s strategy was BCH-focused from day one; BCH was its base currency, meaning you could use it to buy and sell other currencies, such as Ethereum and Litecoin. Interestingly, Jihan Wu, the co-founder of Bitcoin Exchange — himself a famous BCH supporter — was a big investor in the exchange. That made me wonder why he, Yang, and many other OG crypto miners, were so passionate about BCH. Was it just about bigger block sizes? “Bigger block size means more users and use cases,” Yang explained. The move to bigger block sizes was attractive to miners because they would facilitate more transactions. Miners make money on transaction fees, as well as mining blocks. Likewise, the network would arguably be more useful to people, who were looking for digital cash for every day use. That especially resonated with many early hardcore Bitcoiners. Said Yang: “We really believe that Bitcoin should be a P2P cash vehicle rather than a store of value.” This view probably sounds outdated to people who believe that Bitcoin’s value as cash is long gone, with solutions such as Lightning Network fulfilling that role. Instead, the new narrative for Bitcoin resides in its value, rather than utility. Yet Yang believed that the forked network would create far more opportunity “We could invite influential companies to establish nodes and contribute to the network. This cannot be done with the original Bitcoin architecture,” he said.
But from its inception, CoinEx struggled with adoption and was dwarfed by the bigger exchanges. Part of that had to do with the fact that BCH and “Bitcoin Satoshi’s Vision,” another Bitcoin hard fork, were both controversial. Critics pointed out that these networks are centralized in a few big mining pools, and 51% attacks are not out of the question. So over time, though Yang’s exchange still maintains strong support for BCH and BSV, it began to add support for all the major currencies. Finally, in January of this year, it announced a major upgrade, of… well, just about everything. It started to offer futures trading, leveraged trading, options trading, and over 100 token projects available to traders. It even rolled out its own blockchain, “CoinEx Chain” to support a new DEX, “CoinEx DEX.” https://preview.redd.it/3okoy5mudv051.png?width=1432&format=png&auto=webp&s=7099249da4a95db873d268f2dfc95d8db93a368e The seemingly sudden publicity of CoinEx should not come as a surprise, then. As BCH/BSV was being marginalized, Yang shifted his focus. He’s now trying to ride the wave of building a bigger, more dynamic exchange. “Crypto exchanges are where value is discovered,” Yang told me.
Building an exchange isn’t done overnight, nor is re-building one. CoinEx is still competing with the giants such as Binance. However Yang thinks his exchange will thrive by zigging when his competitors zag. As usual, CoinEx is taking a slightly different route, he told me. Like what? “We will be listing 小币种,” he said, using the expression for “small token projects.” I cannot help but wonder if these “small token projects” are simply shitcoins, the trading of which is certainly not new. Indeed, Yang said that he’s banking on the success of his new, public blockchain. “We are building a CoinEx Chain, a layer one protocol for DEX alone. Using our public blockchain, anyone can issue any token, at any time,” he said. He described the blockchain as “a real decentralized, token-issuance and transaction platform.” This is the core of Yang’s plan and vision. He believes that centralized exchanges will be a bottleneck for crypto adoption because it contradicts crypto’s nature as a completely free and open infrastructure. Essentially anyone should be able to launch a token and trade it with anyone. Only by building DEXes can we achieve full decentralization, he says.
The Religious nature of Bitcoin, and forked Bitcoin
It’s his belief that Bitcoin should adhere to Satoshi’s original vision that led Yang to send yet another controversial tweet last week, which I will translate: “The early days of Bitcoin expansion are similar to religion. The religious fervor brings prosperity to the industry.” By extension, Yang believes that the next generation of Bitcoin should provoke a similar “religious” fervor. That’s why he has slowly become more of a BSV advocate than a fan of Bitcoin Cash. Yang believes that “BSV has more religious connotations, despite its negative image.” (As most crypto people know, the controversial Craig Wright, who claims to be Satoshi Nakamoto, led the hard fork which created BSV. Consequently it is often met with skepticism and derision.) “The early days of Bitcoin expansion are similar to religion,” said Yang. “The religious fervor brings prosperity to the industry.” Crypto is famous for its tribalism. Many people choose one camp over another not for practical reasons but because of simple faith. Talking to Yang and reading his tweet brings a historic texture to the Bitcoin narrative. But crypto cannot survive on religion alone. One has to build. Hash might have been worshipped in the old days but now the crypto religion is all about the size of the congregation. Original article Click here to register on CoinEx!
This wipe I have progressed more than I have in past wipes, and I think a lot of it has to do with my play-style changing. I know I am still nowhere near as stacked stash wish or stats wise than a lot of players, but thought I might share some hints and tips for new players that have been helpful for me. I play mainly duos, sometimes trios with a couple of mates. My play style is relatively quiet (i.e. little sprinting, lots of pausing walking to listen) until I engage the enemy, then as much aggressive flanking and pushing as possible. So you can see where I currently am this wipe my stash and play stats are here (it's zoomable). TLDR - 41% Survival rate, 120mil stash value, 5.77 KDR. So onto the tips: 1) Optimise what you bring out of raids:
I almost never bring armourigs that I have looted out of raids in a backpack, although I might drop my armour to wear a level 5 or 6 armour off someone I have killed if it is high durability and I didn't shred it.
Make sure your bag is always full (but you're below ~50kg if possible). Pick up any loot at the start of the raid, but put the low value stuff at the top of your bag, **then as you find more valuable items to loot drop the less valuable items to make room.**For me the best example of this is weapons. I will almost never end up bringing a full weapon out of a raid in my bag, instead I'll strip off the valuable parts and dump the weapon carcass, however if I don't find anything valuable to replace the weapon itself then best to take it for that extra few tens of thousands roubles.
Over time you'll learn the value of items commonly found in raid, a sugar is worth quite a bit more than a CPU for example (around four times the value), but it can take a while to learn this.
2) Run. Good. Ammo
It might cost a lot, but I would rather run an unmodded gun than run subpar ammo at this stage in the wipe. Everyone and their mam are wearing class 5 or 6 armour and you simply won't kill them with shitty ammo.If you are too poor for good ammo, then run Reserve for all your scav runs. There is enough BT/BS 5.45x39 sitting around on the map to fill a backpack with, and you can quickly stock up with it in your stash.
I mainly run M995, M61 and BS, but you can get away with M855A1, M856A1, M62 and BT/7N39 if you want to go a little cheaper.
3) Keep what you loot in raid
I know stash size is an issue, especially for Standard Edition players at the start of a wipe. However, the more you sell and then to re-buy the more money you are wasting. Keep weapon parts you use, keep food and drink, keep meds, keep helmets and armour you use. Prioritise buying cases to hold all of this. If you do this you'll find that quickly you can start running raids and only needing to buy one or two things. It really keeps the cost down.
4) Run gear appropriate to your stash
Have a budget, intermediate and chad loadout and stick to them if you can, mine are below (but for those with lower stash size I would adjust them down in cost:
My budget kit - Trooper armour, ACHHC helmet, blackrock rig, P90, one grenade, meds
My intermediate kit - AACPC rig, Fast MT helmet, M4A1 with silencer and valday scope, three grenades, meds
My chad kit - Slick plate carrier, Altyn, silenced HK/M1A/M4A1 with REAP-Iside-mounted PK-06, six grenades, meds (including injectors [adrenaline, ETG, propital])
If you have a low stash I would run a hunter with 10 round mags (M61 for first mag or two then M62), headset, level 3/4 armour, face cover but no helmet, berkut backpack.
5)Make the most of your hideout
Upgrading the hideout can make you a lot of roubles.
The bitcoin farm is a gamechanger, but the mag case craft in the toilet and the ammo crafting are also good money makers. The Scav case can also make you dosh.
6)Once you have engaged an enemy play aggressively
This doesn't mean run head on towards them.
Instead it can be very effective to re-position fast and engage from a different direction.
Don't hold the expected angles, a substantial and rapid flank can really surprise the hostile(s), especially if you are continually moving after each trade of fire.
Re-peaking the same angle is sub-optimal unless you have no other choice. If you don't have a choice then use grenades to force the enemy into cover whilst you push.
7) Sound is your friend
Obviously sound gives you a lot of clues as to where the hostiles are, what gun they are running, whether they are geared (for example, lots of grenades going off likely means there is either a boss scav, or the hostile PMCs in that direction are geared
Stop walking every so often to listen, your footsteps cover other sounds, so pausing (in cover) can give you an idea if anyone is close to you.
Don't sprint until you're engaging the enemy. The sound of sprinting carries a long way and will let everyone know where you are, use it to flank and cover open ground, but don't use it if you can avoid it.
Pick your route carefully looking at the ground. There may be wood or metal items on the ground that will make a lot of sound, avoid them if possible.
8) When poor, scav in
Self explanatory, but when you don't have roubles then scav in. You can get enough for two or three low budget PMC runs from one good scav run. I prefer reserve or interchange to scav into, as there can be a lot of valuable items left around and you can easily have 300-700k scav run.
9) Complete quests
The quests are the fastest way to level, and really help you make money. They also help you learn maps. Do them as fast as you can to level up rapidly. If you are having difficultly with a quest then run it at night time (close to dawn or dusk is good as it will be light enough to see without NVGs).
10) Don't be afraid to use gear
Survival rates tend to rise as you use better gear. That barrage of shots that would have mowed you down as a hunterling may just bounce off your level 5 rig.
If you are broke and find decent gear in raid don't stash it away and never use it, either sell it or give it a run and see how it goes.
11) Play with others
Find a few buddies on the unofficial discord (in the sidebar I think) and stick playing with them, learn how to complement each others' play styles and you'll quickly find more success in game.
This is a hard game solo. It's fine once you have some experience and you can definitely succeed at it, but for someone who is on their first wipe I wouldn't recommend it.
I hope these tips help at least one person! Happy to expand on any of them if anyone has questions....
Blockchain in Insurance: Use Cases and Implementations
This article was first posted on Medium:https://medium.com/swlh/blockchain-in-insurance-use-cases-and-implementations-a42a00ebcd91 Almost all major insurers are planning to integrate blockchain by 2021, according to PwC. At first glance, such a high level of commitment to new tech may seem surprising in an old and traditional industry such as insurance. However, enterprise blockchain adoption is poised to help insurers significantly cut costs, become more responsive to customers, and write more business. Two recurring themes throughout this post are that:
Blockchain can lower costs for insurers and lower insurance premiums for customers.
Blockchain can help insurers understand & price risks better by allowing customer, risk and policy information to be shared more quickly and securely across parties the insurance ecosystem. This will increase revenue and growth prospects by allowing insurers to price insurance products more accurately.
Costs are becoming an issue for insurers. Life insurers in Asia and the US have seen cost ratios climb above 30% and 20% respectively over the past few years. This figure should ideally be below 20%. Part of this is due to increased compliance costs such as Know Your Customer (KYC) and Anti-Money Laundering (AML) laws. A bigger reason is that selling and servicing insurance policies is still a complex and labor intensive process. Insurance Growth Rates (CAGR) 2012–17. Source: EY A recent EY insurance market report showed low growth rates for Life insurance and Non-Life insurance outside Asia Pacific. Digging deeper, Life insurance premiums in the US declined by 0.4% from 2012–17. Insurers find themselves needing to reduce operating costs and write business more effectively. While blockchain is not a magic elixir, proper adoption will help address these needs.
What is Blockchain?
In their book “Blockchain Revolution,” authors Don and Alex Tapscott describe blockchain as “an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.” Organizations need secure ways to record transactions and manage information flows, making blockchain’s appeal easy to see. Blockchains ensures that:
All participants have a copy of the digital ledger and that each copy is updated in real-time when transactions occur;
There is no centralized server, making hacking next to impossible;
A recorded transaction theoretically cannot be reversed, which makes the ledger an immutable source of truth no matter how many participants hold copies;
Transaction data, records, and participant identities can be authenticated while remaining private.
Enterprise blockchains used by companies are different from public blockchains such as Bitcoin and Ethereum. Public blockchains are too clunky and slow for enterprise purposes. Enterprises require scale and speed — the ability to process hundreds of thousands of transactions very quickly. Public blockchains suffer from very low transaction speeds. Their verification process is cumbersome because participants are unknown and untrusted. Private enterprise blockchains don’t suffer from this limitation since all participants are known and trusted. Enterprise blockchains have the following characteristics:
Participation requires invitation: all participants in the blockchain network are trusted
Data is private and secure: you don’t have access to transactions that you are not a party to, even though you’re on the same blockchain network
Enterprise blockchains are fast and light: the network can handle thousands of transactions per second and numerous participants working in tandem
‘Smart contracts’ automate processes: transaction rules and process flows can be programmed to execute automatically, allowing payments and transfers to execute without human intervention, for example
The insurance industry will benefit from blockchain because most underwriting and claims activity requires cooperation among multiple parties. Some of these parties are from outside the firm, making data security important. Reconciling data from multiple sources during claims investigation, for example, is time and resource intensive and prone to manual error. Putting this data on a blockchain would streamline operations.
Blockchain Use Cases in Insurance
Industries have always adopted technology that has made it easier, faster and cheaper to conduct business. Blockchain tech promises to deliver on all three fronts, especially in the insurance industry, which is seen as slow and complex. Let’s face it, insurance customers don’t enjoy interacting with insurance companies. Customers often deal with time-consuming paper forms when applying for a policy or submitting a claim. They may have to speak with people at insurance companies and hospitals, for example, to get medical insurance claims reimbursed. On the flip side, insurance companies have to deal with the high costs of managing and servicing policies. Many of these costs are administrative — claims administration, verification and reconciliation of information, and paperwork. Insurance also requires coordination among many parties — consumers, brokers, insurers and reinsurers. This introduces overhead costs that translate to higher premiums paid by customers. Blockchain can help make selling and servicing insurance better, faster and cheaper by improving fraud prevention,claims management, health insurance, and reinsurance. The end result could be lower prices and better experiences for customers.
According to the FBI, non-health insurance fraud in the US is estimated to be over $40 billion per year, which can cost families between $400–700 per year in extra premiums. Common types of insurance fraud can be eliminated by moving insurance claims onto a blockchain-based ledger that is shared among insurance companies and cannot be modified. It can prevent criminals from collecting money from different insurers for the same claim, for example. Blockchain will make coordination easier among insurers. If all insurers access a shared blockchain ledger, they would know if a claim has already been paid. Since all insurers use the same historical claims information, it would also be easier to identify suspicious behavior. Insurers currently try to detect fraud by using publicly available data as well as data acquired from private companies. The problem is that these data sets are incomplete due to legal constraints around sharing personally identifiable information of individuals. Blockchain, by cryptographically securing data, would allow claims information to be shared across insurers without divulging personally identifiable information.
Putting insurance policies on a blockchain as smart contracts can radically improve the efficiency of Property & Casualty (P&C) insurance, saving insurers more than $200B a year in operating costs according to BCG. Let’s use car insurance to illustrate this. If you get into a car accident and it was the other driver’s fault, you must submit a claim to your insurance company to recover your loss. Your insurance company investigates your claim and tries to recover money from the other driver’s insurance company. The other insurance company has its own claims processes, which leads to duplicated work, delays, and possible human error. The end result is that you get paid much later than you’d like, and insurers spend time and money on unprofitable activities. Putting insurance policies and claims data on a blockchain that different insurers, reinsurers, brokers, and other parties can access reduces duplicate manual work by different parties. Insurance policies as smart contracts on a blockchain automatically execute programmed claims processing actions, automating information transfers between insurers and other parties, and releasing payments to policyholders. Additional info such as claims forms and supporting evidence supplied by policyholders can later be added to the blockchain so that all parties have the same information, making disputes unlikely.
Blockchain enables fast, accurate, and secure sharing of medical data among healthcare providers and insurers. This will translate into faster health insurance claims processing and lower health insurance costs for customers. Privacy laws around sharing patient data among hospitals and health insurance providers makes it time-consuming and expensive to process health insurance claims. Lack of data can even lead to insurance claim denials. Patients deal with numerous doctors, hospitals and insurers over time and across borders. A patient’s medical history exists in fragments across healthcare providers and insurers. Worse, the way in which insurers and healthcare providers cooperate, share patient data, and process claims involves complex manual work & reconciliation. Even the technical infrastructure for medical records is outdated. Putting encrypted patient records on a blockchain allows healthcare providers and insurers to access a patient’s medical data without sacrificing patient confidentiality. An industry-wide synchronized database of patient data can save the industry billions annually. Patient privacy is ensured because the blockchain stores cryptographic signatures for each medical record, which verifies the authenticity of the record without having to actually store any sensitive info on the blockchain. Changes to a patient’s medical records are also stored on the blockchain, which creates an audit trail.
Data sharing among insurers and reinsurance companies is complex, time consuming, and requires inefficient manual work. Blockchain can streamline information flows between insurers and reinsurers. Reinsurers provide insurance to insurance companies. That way, insurance companies won’t get wiped out when many claims occur at once, such as during a hurricane or earthquake. The problem is that reinsurance processes are lengthy, inefficient, manual and are based on one-off contracts. Insurance companies generally engage multiple reinsurers for the same risk, which means that data has to be shared among many companies to settle claims. When reinsurers and insurers share a blockchain ledger, data related to policies, premiums and losses can exist on insurers’ and reinsurers’ systems simultaneously. This takes away the need for reconciliation, which saves everyone time and money. Reinsurers can also automate claims processing and settlement. PricewaterhouseCoopers estimates that blockchain can save the reinsurance industry up to $10 billion, which can then lead to lower insurance premiums for customers.
Blockchain Implementation in Insurance
Saving the best for last, here are just some examples of how the insurance industry is using blockchain. Keep in mind that at this point, there are more prototypes and POCs than full-scale implementations.
R3 is an enterprise blockchain company. It maintains an ecosystem of over 300 firms across industries that build blockchain software apps on top of its Corda platform. These apps can be used across industries from insurance to banking to healthcare. R3 maintains 2 versions of Corda; an open source platform and an enterprise-specific version called Corda Enterprise. Both versions of Corda are compatible with each other. Insurance-specific applications on Corda are designed to help insurers automate back office activities, streamline operational flows, and generally spend less time on things like claims admin and data processing. There are also apps being development to speed up underwriting and enable faster data sharing among insurers and reinsurers. Basically, Corda wants to host a common set of insurance apps that the entire industry can use to cut costs and boost revenue. Corda currently boasts over 15 insurance-specific apps, with a few of these deployed into production such as:
Blocksure OS: solves problems related to legacy systems, slow manual processes and high rates of error by automating policy admin and claims activities. Policyholders can access all policy and claims info in one app.
MIDAS: is a motor insurance authentication platform designed to serve 80 motor insurance companies in Hong Kong. It provides real-time authentication of motor insurance policies, verification, and audit trails. This can help with fraud detection and reduce time required for certain verification activities when it comes to policy and claims management.
B3i was a blockchain consortium, now an independent software company, supported by leading insurers and reinsurers including Swiss Re, AXA, Zurich, Munich Re, and Allianz. They develop blockchain-based applications for insurers and reinsurers and aim to create industry-wide standards. B3i aims to use blockchain tech to streamline back office processes and claims management — basically lower costs and do things faster. In 2018, B3i switched from IBM’s Hyperledger Fabric to R3’s Corda platform. In July 2019, they launched a Catastrophe Excess of Loss product on Corda. The product is designed for brokers, insurers and reinsurers to negotiate and place risks more efficiently by reducing manual activities related to placing, renewing and managing treaties.
In 2017, AXA launched Fizzy, a blockchain platform for flight delay insurance. Customers purchase flight delay insurance, which is recorded in a smart contract. The platform is connected to global air traffic databases and receives flight statuses. If a customer’s flight is delayed for more than two hours, the smart contract automatically triggers payment to the customer. Customers don’t have to fill out claims forms or speak to service reps. The claim is deposited directly to their bank account. Customer satisfaction: maximized. AXA does not have to spend time processing claims, verifying flight data, or enduring paperwork for payment authorizations. They save on time & cost and can deploy these resources to more profitable activities. Update: Fizzy has since been discontinued after 2 years, possibly due to lack of appetite from the travel/airline industry. Regardless, Fizzy was a pioneer of sorts and has laid the groundwork for future blockchain insurance platforms.
Hong Kong insurer Blue Cross is using blockchain since April 2019 to speed up medical insurance claims processing and prevent fraud. Blue Cross’ blockchain platform validates claims data in real-time, which greatly reduces fraud potential from duplicate claims filing, for example. Claims are also processed faster for their 200,000+ customers. The platform also removes the need to reconcile claims data across parties such as insurers and medical service providers. Medical practitioners such as doctors and chiropractors who don’t employ many admin support staff could save time and money by partnering with Blue Cross. Blue Cross’ blockchain platform is built on Hyperledger. Blue Cross is owned by Bank of East Asia.
Insurwave is a blockchain-based marine hull insurance platform launched in 2018. The platform was a collaboration among Ernst & Young, Guardtime, Maersk, Microsoft, and ACORD. It was built on R3’s Corda platform. Insurwave provides real-time information on ships’ location, condition, and safety factors that both insurers and customers can access. If ships enter high-risk areas, Insurwave automatically factors this into underwriting and pricing calculations. Premium calculations for this type of insurance are very complex. Having an immutable audit trail for ship-specific information substantially eases this calculation, enables accurate pricing, and speeds up underwriting. Insurers are also able to better account for ship-specific risks.
The Future of Blockchain in Insurance
These are still early days. Most of the work around blockchain in insurance is in the Proof of Concept stage and regulation is slowly catching up. However, we have already seen some applications that have gone live. The ‘quickest win’ for blockchain in insurance is in the area of cost control. Rising costs are hitting insurers across most markets. Blockchain platforms and Dapps that allow firms to free up resources by automating claims management, fraud detection and data reconciliation, for example, will be heartily endorsed by executives. The real win will be when blockchain platforms enable insurers to create better products and onboard customers faster — things that bring in revenue. For this to happen, we need a more robust ecosystem of insurers, reinsurers, tech companies and service providers working together on industry-standard blockchain platforms. This has already started with software companies like R3 launching enterprise-grade blockchain platforms such as Corda Enterprise. We also have leading insurers involved in B3i that share common goals related to blockchain development. It remains to be seen if these natural competitors share enough long-term interests to sustain the initiative. If not, industry-wide blockchain adoption may take longer and become more fragmented. However, the benefits are too obvious to ignore. We will probably see a few committed companies invest early in blockchain and enjoy a short period of above-normal performance, with early adoption coming from mature markets burdened with high costs as well as some parts of Southeast Asia (e.g. China, which proactively adopts tech). The rest of the industry will follow.
I've heard that founder of MakerDAO is not strictly against KYC. I have a message to whole community and specifically to a founder of MakerDAO Rune Christensen. I will explain using concrete examples why having KYC in MakerDAO is a grave mistake and it will lead to MakerDAO fork. Many people in the first world never actually understand why financial privacy and financial inclusion is important. Even people (in the first world) who seemingly supportive of such ideas are not able to provide any concrete examples of why it's actually important. Unfortunately, I was born in a "wrong" country (Uzbekistan) and I experienced first hand what financial exclusion actually means. I know first hand that annoying feeling when you read polite, boilerplate rejection letter from financial institution based in first world. So I had to become practical libertarian. I'm going to give you concrete examples of financial discrimination against me. Then I'm going to explain fundamental reasons why it happens. And finally, I'm going to explain my vision for DAI. Back in 2005, I lived in Uzbekistan. I had an idea to invest in US stocks. I was very naive and I didn't know anything about investing, compliance, bank transfers, KYC etc. All I knew is nice long term charts of US stocks and what P/E means. I didn't contact any US brokerage but I checked information about account opening and how to transfer money there. I approached local bank in Uzbekistan and asked how to transfer money to Bank of New York. Banker's face was like - WOW, WTF?!?! They asked me to go to private room to talk with senior manager. Senior manager of local bank in Uzbekistan asked me why I wanted to transfer money to US. They told me that it's absolutely impossible to transfer money to US/EU and pretty much anywhere. I approached nearly every local bank in the town and they told me the same. In 2012, I already lived in Moscow and acquired Russian citizenship. I got back to my old idea - investing in US stocks. I called to many US brokerages and all of them politely rejected me. Usually when I called I asked them if I can open an account with them. They told me to hold on line. After long pause, I was able to speak with "senior" support who politely explain me that Russia in their list of restricted countries and they can't open an account for me. Finally, I was able to open an account with OptionsXpress. Next challenge was to convince local Russian bank to transfer money to US. Back then in 2012, I was able to get permission to do so. So you might say - is this happy end? Fast forwarding US brokerage story to 2017, OptionsXpress was acquired by Charles Schwab. I was notified that my OptionsXpress account will be migrated to Charles Schwab platform. In 2017, I already lived in the Netherlands (but still having Russian citizenship). I wasn't happy with my stupid job in the Netherlands. I called Charles Schwab and asked if I quit my job in the Netherlands and have to return to Russia, what will happen with my account. Schwab told me that they will restrict my account, so I can't do anything except closing my account. So even if I was long term customer of OptionsXpress, Charles Schwab is not fully okay with me. Going back to 2013, I still lived in Russia. I had another idea. What if I quit my job and build some SAAS platform (or whatever) and sell my stuff to US customers. So I need some website which accept US credit cards. I contacted my Russian bank (who previously allowed me to transfer money to OptionsXpress) about steps to make in order to accept US credit cards in Russia. I've been told explicitly in email that they won't allow me to accept US credit cards under any circumstances. Back then I still believed in "the free west". So I thought - no problem, I will just open bank account abroad and do all operations from my foreign account. I planned vacation in Hong Kong. And Hong Kong is freest economy in the world. Looks like it's right place to open bank account. I contacted HSBC Hong Kong via email. Their general support assured me that I can open bank account with them if I'm foreigner. I flew to Hong Kong for vacation and visited HSBC branch. Of course, they rejected me. But they recommended me to visit last floor in their HQ building, they told me that another HSBC branch specializes on opening bank accounts for foreigners. I went there and they said minimum amount to open bank account is 10 mil HKD (1.27 mil USD). Later I learned that it's called private banking. When I relocated to the Netherlands, I asked ABN Amro staff - what's happen with my bank account if I quit/lose my job in the Netherlands and have to return back to Russia. I've been told that I can't have my dutch bank account if I go back to Russia even if I already used their bank for 2+ years. I still had idea that I would like to quit my job and do something for myself. The problem is that I'm Russian citizen and I don't have any residency which is independent from my employment. So if I quit my job in the Netherlands, I have to return back to Russia. I wanted to see how I would get payments from US/EU customers. I found Stripe Atlas, it's so exciting, they help you to incorporate in US, and even help with banking, all process of receiving credit card payments is very smooth. But as usual in my case, there is a catch - Russia in their list of restricted countries. Speaking of centralized compliance-friendly (e.g. KYC) crypto exchanges. This year I live and work in Hong Kong. Earlier this year, I thought it would be nice to have an account at local crypto exchange in Hong Kong so I can quickly transfer money from my bank account in Hong Kong to crypto exchange using FPS (local payment system for fast bank transfers). What could go wrong? After all Hong Kong is freest economy in the world, right? I submitted KYC documents to crypto exchange called Weever including copy of my Hong Kong ID as they requested. They very quickly responded that they need copy of my passport as well. I submitted copy of my Russian passport. This time they got silent. After a few days, they sent me email saying that Russia is on the US Office of Foreign Assets Control sanction list, so they just require me to fill a form about source of the funds. I told them that the source of my funds is salary, my Hong Kong bank can confirm that along with my employment contract. They got very silent after I sent them a filled form. After a week of silence I asked them - when my account get approved? They said that their compliance office will review my application soon. And they got very silent again. I waited for two or three weeks. Then I asked them again. And I immediately got email with title - Rejection for Weever Account Opening. And text of email was:
We are sorry to inform you that Weever may not be able to accept your account opening application at this stage.
Exactly the same situation I had with one crypto exchange in Europe back in 2017. Luckily I have accounts at other crypto exchanges including Gemini, one of most compliance obsessed exchange in the world. Although I don't keep my money there because I can't trust them, who knows what might come into head of their compliance officer one sunny day. By the way, I'm living and working outside of Russia for quite a few years. The situation with crypto exchanges is much worse for those who still living in Russia. I give you a few other examples of financial discrimination is not related to troubles with my Russian citizenship. Back in 2018, I still lived in the Netherlands. I logged in into my brokerage account just to buy US ETFs as I always do - SPY and QQQ. I placed my order and it failed to fill. I thought it's just a technical problem with my brokerage account. After a few failed attempts to send buy orders for SPY and QQQ, I contacted their support. What they told me was shocking and completely unexpected. They said I'm not permitted to buy US ETFs anymore as EU resident because EU passed a law to protect retail investors. So as a EU resident I'm allowed to be exposed to more risk by buying individual US stocks but I'm not allowed to reduce my risk by buying SPY because ... EU wants to protect me. I felt final result of new law. By the way, on paper their law looks fine. And the final example. It's a known fact that US public market become less attractive in recent decades. Due to heavy regulatory burden companies prefer to go public very late. So if successful unicorn startup grows from its inception/genesis to late adoption, company's valuation would be 3-5 orders of orders of magnitude. For example, if valuation of successful company at inception is 1 Mil USD, then at its very latest stage it's valuation would be 10 Bil USD. So we have 10'000 times of growth. In the best case scenario, company would go public at 1 Bil USD 5-10 years before reaching its peak 10 Bil USD. So investors in private equity could enjoy 1000 fold growth and just leave for public only last 10 fold growth stretched in time. In the worst case scenario, company would go public at 10 Bil USD, i.e. at its historical peak. But there are well known platforms to buy shares of private companies, one of such platforms is Forge Global. You can buy shares of almost all blue chip startups. You can even invest in SpaceX! But as always, there is a catch - US government wants to protect not just US citizens but all people in the world (sounds ridiculous, right?). US law requires you to have 1 Mil USD net worth or 200'000 USD annual income if you want to buy shares of non-public company. So if you are high-net worth individual you can be called "accredited investor". Funny thing is that the law intends to protect US citizens but even if you are not US citizen and never even lived in US, this law is still applies to you in practice. So if you are "poor loser", platforms like Forge Global will reject you. So high-net worth individuals have access and opportunity to Bitcoin-style multi-magnitude growth every 5-10 years. Contrary to private equity markets, US public markets is low risk/low return type of market. If you have small amount of capital, it's just glorified way to protect yourself from inflation plus some little return on top. It's not bad, US public market is a still great way to store your wealth. But I'm deeply convinced that for small capital you must seek fundamentally different type of market - high risk/high return. It's just historical luck that Bitcoin/Ethereum/etc were available for general public from day one. But in reality, viral/exponential growth is happening quite often. It's just you don't have access to such type of markets due to regulatory reasons. I intentionally described these examples of financial discrimination in full details as I experienced them because I do feel that vast majority of people in the first world honestly think that current financial system works just fine and only criminals and terrorists are banned. In reality that's not true at all. 99.999% of innocent people are completely cut off from modern financial system in the name of fighting against money laundering. Here is a big picture why it's happening. There are rich countries (so called western world) and poor countries (so called third world). Financial wall is carefully built by two sides. Authoritarian leaders of poor countries almost always want full control over their population, they don't like market economy, and since market forces don't value their crappy legal system (because it works only for close friends of authoritarian leader) they must implement strict capital control. Otherwise, all capital will run away from their country because nobody really respects their crappy legal system. It only has value under heavy gun of government. Only friends of authoritarian leader can move their money out of country but not you. Leaders of rich countries want to protect their economy from "dirty money" coming from third world. Since citizens of poor countries never vote for leaders of rich countries nobody really cares if rich country just ban everyone from poor country. It's the most lazy way to fight against money laundering - simply ban everyone from certain country. Actually if you look deeper you will see that rich countries very rarely directly ban ordinary people from third world. Usually, there is no such law which doesn't allow me to open bank account somewhere in Europe as non-EU resident. What's really happens is that US/EU government implement very harsh penalties for financial institutions if anything ever goes wrong. So what's actually happens is that financial institutions (banks, brokerages etc) do de-risking. This is the most important word you must know about traditional financial system! So if you have wrong passport, financial institution (for example) bank from rich country just doesn't want to take any risks dealing with you even if you are willing to provide full documentation about your finances. It's well known fact that banks in Hong Kong, Europe, US like to unexpectedly shutdown accounts of thousands innocent businesses due to de-risking. So it's actually de-risking is the real reason why I was rejected so many times by financial institutions in the first world!!! It's de-risking actually responsible for banning 99.999% of innocent people. So governments of rich democratic countries formally have clean hands because they are not banning ordinary people from third world directly. All dirty job is done by financial institutions but governments are well aware of that, it's just more convenient way to discriminate. And nobody actually cares! Ordinary citizens in rich countries are never exposed to such problems and they really don't care about people in third world, after all they are not citizens of US/EU/UK/CH/CA/HK/SG/JP/AU/NZ. And now are you ready for the most hilarious part? If you are big corrupt bureaucrat from Russia you are actually welcome by the first world financial institutions! All Russian's junta keep their stolen money all across Europe and even in US. You might wonder how this is possible if the western financial system is so aggressive in de-risking. Here is a simple equation which financial institution should solve when they decide whether to open an account for you or not: Y - R = net profit Where: Y - how much profit they can make with you; R - how much regulatory risk they take while working with you; That's it! It's very simple equation. So if you are really big junta member from Russia you are actually welcome according to this equation. Banks have special name for serving (ultra) high-net worth individuals, it's called private banking. It's has nothing to do with the fact that bank is private. It's just fancy name for banking for rich. So what's usually happen in real world. Some Estonian or Danish bank got caught with large scale money laundering from Russia. European leaders are ashamed in front of their voters. They implement new super harsh law against money laundering to keep their voters happy. Voters are ordinary people, they don't care about details of new regulations. So banks get scared and abruptly shutdown ALL accounts of Russian customers. And European voters are happy. Modern money laundering laws are like shooting mouse in your house using bazooka! It's very efficient to kill mouse, right? Now imagine world without financial borders. It's hard to do so because we are all get so used to current status quo of traditional financial system. But with additional effort you can start asking questions - if Internet economy is so global and it doesn't really matter where HQ of startup is located, why they are all concentrated in just a few tiny places like Silicon Valley and ... well, that's mostly it if you count the biggest unicorns! Another question would be - why so many talented russian, indian, chinese programmers just go to the same places like San Francisco, London and make super rich companies like Amazon, Google, Facebook, Apple to get even richer? If all you need is laptop and access to internet, why you don't see any trade happening between first and third world? Well actually there is a trade between first and third world but it's not exactly what I want to see. Usually third world countries sell their natural resources through giant corporations to the first world. So it's possible to get access to the first world market from third world but this access usually granted only to big and established companies (and usually it means not innovative). Unicorns are created through massive parallel experiment. Every week bunch of new startups are created in Silicon Valley. Thousands and thousands startups are created in Silicon Valley with almost instant access to global market. Just by law of large numbers you have a very few of them who later become unicorns and dominate the world. But if you have wrong passport and you are located in "wrong" country where every attempt to access global market is very costly, then you most likely not to start innovative startup in the first place. In the best case scenario, you just create either local business or just local copy-paste startup (copied from the west) oriented on (relatively small) domestic market. Obviously in such setup it's predictable that places like Silicon Valley will have giant advantage and as a result all unicorns get concentrated in just a few tiny places. In the world without financial barriers there will be much smaller gap between rich and poor countries. With low barrier of entry, it won't be a game when winner takes all. Whole architecture of decentralized cryptocurrencies is intended to remove middle man and make transactions permissionless. Governments are inherently opposite to that, they are centralized and permissioned. Therefore, decentralized cryptocurrencies are fundamentally incompatible with traditional financial system which is full of middle mans and regulations (i.e. permissions). Real value of crypto are coming from third world, not the first world. People are buying crypto in rich countries just want to invest. Their financial system and their fiat money are more or less already working for them. So there is no immediate urgency to get rid of fiat money in the first world. So the first world citizens buying crypto on centralized KYCd exchanges are essentially making side bet on the success of crypto in third world. Real and natural environment of cryptocurrencies is actually dark OTC market in places like Venezuela and China. But cryptocurrencies like Bitcoin and Ethereum have a big limitation to wide adoption in third world - high volatility. So the real target audience is oppressed (both by their own government and by first world governments) ordinary citizens of third world countries yet they are least who can afford to take burden of high volatility. Right now, Tether is a big thing for dark markets across the world (by the way, dark market doesn't automatically imply bad!). But Tether soon or later be smashed by US/EU regulators. The only real and working permissionless stable cryptocurrency (avoiding hyped word - stablecoin) is DAI. DAI is the currency for post-Tether world to lead dark OTC market around the world and subvert fiat currencies of oppressive third world governments. Once DAI become de-facto widespread currency in shadow economy in all of third world, then it will be accepted (after many huge push backs from governments) as a new reality. I'm talking about 10-20+ years time horizon. But if MakerDAO chooses the route of being compliance friendly then DAI will lose its real target audience (i.e. third world). I can not imagine US/EU calmly tolerate someone buying US stocks and using as a collateral to issue another security (i.e. DAI) which is going to be traded somewhere in Venezuela! You can not be compliance friendly and serve people in Venezuela. Facebook's Libra was stupidest thing I've seen. It's extremely stupid to ask permission from the first world regulators to serve third world and create borderless economy. Another stupid thing is to please third world governments as well. For example, Libra (if ever run) will not serve Indian, Chinese, Venezuelan people. Who is then going to use stupid Libra? Hipsters in Silicon Valley? Why? US dollars are good enough already.
Sections: Every Gun's Meta Role, why every other gun is bad, modding and ak-74 recoil reduction/price graph, ammo meta. Lowest Recoil for 545, 556, and 7.62x39 guns : https://i.imgur.com/E9ruaAJ.png
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Edit: There seems to be some misunderstandings about objective facts about tarkov. Anecdotal experiences you’ve had do not change how the mechanics behave. Not penning lets say, a 6B47 with M61, doesn’t mean m61 won’t pen a 6B47. We know the pen chance of M61 on any given piece of armor, and just because you received an unlikely result does not mean it’s the only result. Similarly rephrasing otherwise damning statements doesn’t change the objective situation. Saying something such as “___ gun shreds armor with ___ ammo” is just a different way of saying “If I take the time to shoot the armor to the point of it no longer behaving as its armor class, then my bullets will go through it”. And I’ll concede you can indeed do that. But shooting an armor several times before your bullets go through doesn’t mean its equivalent to using bullets that go through the armor in the first place. There also seems to be a misunderstanding on what makes a gun good. Most guns will kill someone if you correctly aim and left click on someone’s face. That’s the bare minimum for a gun to be useable in tarkov. Just because you have used a gun which can do that doesn’t make it good. If one can simply shoot someone in the face with the first bullet, they fire then what’s the point of bringing something other than a Makarov. We bring in better guns to make up for other short comings. Yes, if you shoot someone’s gen 4 6 times with 7.62x39 BP you will go through it. But that guy in the gen 4 can only has to shoot you twice because he brought competitive ammo. Don’t handicap yourself then say I’m spreading misinformation because if you just pretend a handicap isn’t there then then game is different from what I’m saying… also ap slugs suck. ---------------------------------------------------------
Every Gun's Meta Role
Guns with a purpose: AK-74 / AK-74N: Only has a place in 2 scenarios. Long range medium kit and any range high kit. In high kit the gun will cost 100k but will have the lowest recoil of the automatic ARs. BS and PP isn’t as expensive as 995 and M856A1. For high kit the 74 is 2nd best if money is no problem but if you do even remotely care about money then this is the most reasonable high kit gun. If lvl 6 armor for some reason becomes abundant in the future then this will be the best gun because igolnik. Yes m61 will go through lvl 6 but the FAL nerf means it has too much recoil for mid range and the m1a is semi auto which kinda nips the whole “2 stk > 3 stk” in the bud. HK-416: 2nd lowest AR recoil. A maxed one of these is cheaper than a maxed m4 but has ~8 more vert reocil. M4A1: Well my reference m4 did a mega-morphin stat change. The best recoil AR in the game. A maxed M4 is very very expensive and using it suppressed borks the recoil. Bolt actions: All of the bolt actions are currently just very very bad vepr hunters. However quests are a thing and there’s very clearly one vastly superior bolt action and it issssss a sniper mosin with the non-blue tape obrez stock and the 514mm barrel. Its accurate and its very light. Recoil doesn’t matter, ergo kinda matters but not nearly as much as weight. If you don't like the PU scope then you can use the “arbalet patriot K+W mount” and just use any sight you want without the rendering issues of the tri-rail. Only in tarkov will the objectively cheapest gun in a class be the best. Cough ak-74 cough. Vepr Hunter: M80 strong so gun strong. It one taps to the chest, is accurate, has no rof cap, can go through lvl 4, the 10 round mags are 1 slot, and you can get it for like 25-35k off the market. Its just stupid good. Is it better than a m1a, rsass or FAL? No. Is it way better than the mosin, saiga-12, mp-153, mr-133, m870, ash-12, sv-98, m-700, DVL, and SVD? Yeah. MP-7: Best CQC gun for medium kit (anti-lvl 3) because FMJ is very cheap, the bitcoin trade lets you get 40k MP7s, and the recoil is lower than any gun of equivalent price. The only exceptions are the VSS and p-90 which you can use for about the same price (given you can get a 50k p-90 and a 40k VSS) However the VSS mags are either stupid expensive or too small and the p-90 has too much horizontal recoil. Yes the p-90 has less vertical recoil but only your mom is wider than she is tall and she’s not a scav boss yet. PP-19: One of the three “competitive” budget guns. It's cheap, has maxed ak-74 levels of recoil(with a recoil pad), is automatic, and has no pen whatsoever. Face shots or go home. Saiga-12: Best “shot” shotgun and one of three “competitive” budget guns. There’s a rof cap now but its vepr 136 levels so for a gun with a 20 round mag max, its not “too much” of a problem. If you’re running factory then maybe flechette could work but holy shit with the lack of limb pen and the 19 damage per dart (152 damage if all land) you’ll be shooting the fuck out of people before they die. I think the best example of how this feels was a raid where I killed one scav and it took 29 hits to kill that one unarmored scav. Honestly just use magnum and go for face shots. 1 pellet to the face can kill so it just a matter of spamming in the general upper torso direction and hoping RNG gives you a head/face shot. That sounds really stupid but throwing those dice is surprisingly dependable. Vepr-136: One of the three “competitive” budget guns. If you need range and don’t mind giving up recoil and an automatic switch for armor pen then this is your jam. Grab one of these for 15k off the market, slap a butt-pad, m1b, and dynacomp on it, grab a handful of 30s with T45 for the cost of a slightly worn t-shirt, and you’re good to go. The only thing that really holds this gun back is the oversampling cap. I click at ~450 clicks per min and I slam right into that cap and get ~100-150 rpm out of it. Its really awful. That paired with the RoF link to FPS and you can imagine why taking this into cqc could be a bad idea. AKMS / AKMSN: Only good for budget builds. Because the ammo is cheap you can spend more money on attachments. But the amount of money you would spend on attachments is so much, you might as well buy a better gun. I wouldn’t bother modding beyond a recoil pad, dynacomp, and M1B and pretending its a vepr-136 that can go full auto for CQC. ADAR: Crazy good right now. 15k for a rec battery gets you a gun that reloads like lighting, who’s accurate, who’s ammo punches through lvl 4 for 191 rubles a pop with good recoil out of the box and has no rof cap (aside from the FPS limiting it of course). FAL / M1A: Since the FAL was nerfed and the M80 wont go through full condition lvl 5, these don’t have a role in high kit. In medium kit however these are a nice alternative to the ak-74 or vepr hunter. They cost about 40-50k because of trades and they have access to large cheap mags. If you have a M1A then its fine as is, just put on a side mount. If you have an FAL put on a baskak and an extreme duty dust cover(if you did the NIXX trade then dont forget to rebuy the austrian muzzle break). Makarov: One of two reasonably accurate pistols in game. If you’re going to carry a pistol as backup, carry this for face taps. Saiga-9: Instead of doing pistol runs, do saiga-9 runs. No one will steal it, you can get it for the same price, you got 30s, and the recoil is only 47-195. For context a Makarov is 510-325 (and yes, that's five hundred and ten vertical recoil) Kedr / Klin: probably my 2nd most used gun behind the 153 and…. Its pretty good for a 10-15k gun. Its cheap, it shoots cheap ammo, it has 1 slot 20 rounders, it has weird recoil / point of impact , and it sucks. If you wanna to pistol runs, do kedr runs instead. -------------------------------------------------
Bad Guns (for the price / in comparison to other guns)
AKS-74U: Literally, the only reason to ever use this gun is because its funny or because you want a gun that’s very cheap, functionally accurate, automatic, and has cheap 30 round mags. If you consider using something other than FMJ in it then you would better spend your money buying an AKS-74 or AK-74M for 5k extra(or sometimes the same price). The only reasonable plays you can make are face shot barrel stuffs or tippy taps at range. Even automatic fire at like 15m has so much horizontal recoil that its basically useless. And if you spend the money to get the recoil down you might as well just buy a better gun and get low recoil that way. The only time the 74U can be remotely competitive is using it as a head tap DMR but even then you could use any other AK or adar for about the same price. AKS-74 / AKS-74N / AK-74M/ AK-105 : These are basically just an AK-74 but slightly worse and occasionally cheaper. Just sell it or lightly mod it and use PP. If you dont have the money for PP then just use a PP-19. AKM / AKMN: Its the best 7.62x39 gun in game and its just bad. It costs too much, the good ammo costs too much and doesn’t have enough pen for the price, and it has unacceptable recoil. There’s no reason to ever use this unless you can’t stand high recoil and must use a fully modded akm for that shoreline scav kill quest. AK-103/AK-104: Imagine an AKM that’s worse and costs slightly less. Just dont. AK-101 / AK-102: These are just meme / rp guns. They’re a better option than the AKM / AK-103 / AK-104 but that’s not saying much. They’re just expensive and have too much recoil. If you cannot stand the semi-auto of the adar these might be the only reasonable non-7.62x51 automatic for anti-lvl 4 because M855A1 is so dirt cheap. SKS: A bad vepr-136 with the exception of having a higher RoF cap. Mags are stupid expensive, mags take forever to reload, and the recoil is stupid high. If you’re a sperg and can’t wrap your head around mags then do the filter trade, put a DTK-1 on an adapter, fill your pockets with T45 and you’re all ready to feed that sks to the next pmc you meet. SVD: Its a bad M1A. Its too expensive, the mags cost too much, and it has a rof cap. No reason to use it other than the quest. Honestly, I’d take a vepr hunter over it because at least then I can spam in CQC. MDR: So you can grab these for 40-50k on the market and after an RK-2 and Bulletec you’ll have the recoil of a maxed AKM with like 45 more horizontal recoil. So 80k for an extra shakey AKM in 556. So basically its useless, juse an ak-74. TX-15: expensive adar with very slightly better recoil. If you care that much about recoil then just build an HK-416A5 MP-153: The only good slug shotgun and it sucks. People like it because you dont have to fiddle fuck with mags but the rof cap + the giga-longness + the slow reloads means CQC is is awful. Which means its only place in the meta is slugs and then its just a bad vepr hunter. But not like a “90% of the way there” bad, its a “30% of the way there” bad. I’ve probably used a 153 with slugs more than any other weapon in tarkov over these 7 or so wipes I’ve played and the whole time I’ve held the opinion that fucking christ the 153 with slugs sucks but lord is it fun. But with the CMS kits and the mosin and the vepr hunter. The allure of being a little shitling scuttling about has lost its charm. Breaking people’s arms and legs at range isn’t a raid ruiner, the mosin can do 1 shot chest taps now, and so can the vepr hunter. Its just not a vile bog of misery anymore. It’s just an underperforming gun that has been power creeped out of any relevance. MP-133: bad mp-153. it literally don't even have iron sights M870: mp-133 but expensive Toz: is toz Grach: imagine a saiga-9 but expensive and people can steal it easier P226R: Imagine a grach but for people who wanna play dress up. Glock 17: Imagine a P226R but for people who really really wanna play dress up. Glock 18: Was pretty oppressive back when RIP could 3 shot your legs but now its just a DPS meme like it is in real life. Shrimp: imagine a 5-7 but cheap and with no 1 tap chest hollow points. This is probably your best bet for the pistol kill quest. 5-7: imagine a shrimp but expensive and with hollow points that can 1 tap a chest. “But can’t all 9mm pistols do that?” ….yes but they’re half the price of RIP. P-90: surprisingly similar in budget to the mp-7 but with less vertical recoil but more horizontal recoil and 50s instead of 30s…. So basically the p90 sucks. MPX / MP5: mil-sim scum. In all seriousness they just cost so much for being such limp guns. I know people are SUPER FUCKING HYPED FOR AP 6.3 !?!??! but its just PMM with less damage. It wont ever got through a lvl 3 armor for christ sake. TT: a makarov but it costs more and can go through lvl 2. M9A3: sounds cool APS: russian g18 that can’t use 9mm RIP. sucks APB: Didn’t get nerfed with the APS so its a giga-cheap suppressed gun. But it handles like a shitty kedr and the kedr already handles like shit so keep that in mind. RSASS: inflated price because of the quest, prob will never be viable until it gets a better mag or the M1A gets a recoil nerf. VSS: imagine a AS VAL but you dont get that AR skill recoil reduction…. But its cheap. Its actually stupid cheap when you consider how much recoil it has and that SP-5 is basically 5.45 PP. You can get an AK-74 with a PBS-4 for 40k, and you can get an VSS for 40k, but you cannot get a suppressed AK-74 with VSS recoil for 40k, or 100k. The only thing holding the VSS back is the drop on it is stupid. I could go on a long hot ramble on how it could be fixed and how the way tarkov handles balistics calculations is dumb but that would take way too long. Basically only use it with sights that can zero to 25m and you’ll be fine unless you try to shoot at something beyond 50m. AS-VAL: a slightly better VSS (because AR skill) but it costs 50-100% more MP5K: bad kedr Kedr-B: suppressed kedr that costs 25-30k RPK: The recoil stats are basically the same as the AK-74 but maxed they both cost the same and the AK-74 gets recoil reduction from the AR skill so there’s just no reason to bother. The RPK is heavier, shoots at the same RPM, will have more ingame recoil, and sounds dumb. Vepr-209: bad Ash-12: unbelievably bad. Maybe if it was 20k from a trader and the ammo / mags were cheaper it might have a place in the meta. But that role would be a shitty vepr hunter that’s cheap. PB: 25k silenced makarov…. Yeah naw PM (t): fireball machine ------------------------------------------------------------
I’m only going to cover the guns with a meta purpose that I didn’t mention how to mod in the above section. M4A1 Max: (if I dont mention a part, its stock) Pistol Grip: Ergo PSG-1 (only for ergo) Stock: HK E1 (or BUS if you dont care about ergo) Buffer Tube: Advanced (red has more accuracy) Muzzle Break : Bulletek ST-6012 or AAC Blackout and SDN-6 (same recoil) Backup sightst: Magpul MBUS Gen 2 (only for ergo) Handguard: SAI QD Rail(long) + Jail Break Foregrip: RK-2 Charging Handle: Raptor (only for ergo) Barrel: 370mm Upper: MUR If you really care about min maxing you can put a cobra red dot on for an extra -1% recoil HK 416A5 Max: (if I dont mention a part, its stock) Pistol Grip: Ergo PSG-1 (only for ergo) Stock: HK E1 (or BUS if you dont care about ergo) Muzzle Break : Bulletek ST-6012 or AAC Blackout and SDN-6 (same recoil) Backup sightst: Magpul MBUS Gen 2 (only for ergo) Handguard: MRS 14" keymod Foregrip: RK-2 Charging Handle: Raptor (only for ergo) Barrel: 20” If you really care about min maxing you can put a cobra red dot on for an extra -1% recoil AK-74 Max (AKM is the same except for the lantac muzzle break) Pistol Grip: US Palm (rk-3 weighs more) Stock: Zhukov-S Muzzle Break : CQB or PBS-4 to be suppressed (is 7% worse) Dust Cover: Fab Defence PDC (highest ergo dust cover rail) Handguard: CMRD Foregrip: RK-2 Charging Handle: Extended (only for ergo) https://i.imgur.com/siZK34s.png The sweet spot is about the Zhukov-S + CQB + RK-0 + poly 100 has 58-153 recoil (which is about a maxed ak-105 but for 57k) I used to determine the data points by an increasing budget but now I do it by the price / recoil gain of each next part. So buying a polymer stock costs more / recoil than the zhukov so I just skipped it. Also why I skipped to just using the RK-0. -----------------------------------------------------------
https://docs.google.com/spreadsheets/d/1jjWcIue0_PCsbLQAiL5VrIulPK8SzM5jjiCMx9zUuvE/htmlview?sle=true Damage thresholds: 35 (1 tap to the head), 40 (2 tap the chest), 60 (break arms in 1 shot), and 80 (1 tap chest). What we can derive from this is Magnum buckshot can kill with one pellet to the head. Igolnik won’t 2 tap. T45 will break arms in 1 shot so you can flinch people. M80, LPS, and 7N1 will 1 tap to the chest. You should really derive your own conclusions about the ammo, this is just what I use. anti-Lvl 3: T45 for 7.62x39 for 70 rubles (PS isn’t a tracer but ps costs more and won't 1 shot arms) PP for 5.45x39 for 152 rubles M855A1 for 5.56 for 191 rubles(yes this is an anti-lvl 4 ammo, but m856a1 costs more than this) SP-5 for 9x39 for 142 rubles FMJ for 4.6 for 134 rubles SS190 for 5.7 for 147 rubles M80 for 7.62x39 for 237 rubles (also goes through lvl 4, there’s just no lower tier ammo) LPS for 7.62x54R for 189 rubles (I just use 7n1 tbh) Anti-lvl 4 M855A1 for 5.56 for 191 rubles M80 for 7.62x51 for 237 rubles 7n1 for 7.62x54R for 322 rubles Sp6, 7.62x39 BP, and AP SX cost too much to be considered for such an irrelevant threshold. Though its more relevant than previous patches due to the abundance of lvl 4. Though they’re usually pretty damaged. Anti-lvl 5 5.45x39 BS for 554 rubles The meta is just 5.45 BS or pay out the ass for sub-par return on investment. 5.56 995 for 800 rubles 9x39 BP is trade only, usually 1,000 rubles on the market Not sure how much m61 costs yet, not worth it regardless and m62 is the same story.
WaykiChain CEO Gordon Gao: What is WaykiChain doing now?
https://preview.redd.it/i6sd5ax60ow41.jpg?width=1200&format=pjpg&auto=webp&s=8d4171bd4831ce2cfd6fa0bd9b598888d3a100cb Recently, there have been many thoughts on the development direction of blockchain and WaykiChain. I have found some certainty in the world of uncertainty. How does WaykiChain understand the development of the public chain? What is WaykiChain development direction based on these understandings? What should the community expect and pay attention to? I will share with you the answers to these questions. How does WICC increase prices? WICC is the basic digital currency on the WaykiChain public chain. According to its white paper, when this coin was issued in the early period, more than 70% of the chips were in circulation in the secondary market This is a relatively high proportion, comparing to most of blockchain projects. This high circulation ratio is like a double-edged sword. The disadvantage is that foundation has relatively weak control over its value in the secondary market. It is also difficult to manipulate the price to create some false market value to deceive the public. The advantage is that WICC can have a wide range of coin holders and community members. Meanwhile, more coin holders mean that when WICC is found to have price increase expectations, such expectations will be spread by the population, which can result in a large-scale network effect. In 2018, WaykiChain relied on this network effect to make a big hit in the market. At that time, the number of WICC holders was about 100,000 (WICC holders in exchange). However, the communities merely brought by price increase expectations are not sustainable. Those people came because of profit, and they will leave because of no profit. Those who made money or lost money on WaykiChain will scold after the currency price fell. In the bear market, it is almost difficult for people to have confidence in altcoins. It is difficult for people to invest in your long-term future with real money no matter what expectations they receive. Then, how to make WICC valuable in this bear market? We can conclude by the nature of price increases, which is fewer people selling and more people buying. Staking economy is an effective way to achieve“few people selling”. This kind of gameplay is not widely used in the traditional field as it is in the crypto circle. Most of Staking’s gameplay is to give you a dollar profit to make you unwilling to sell your 100 dollar coins. This approach may have a positive effect in the short term, but in the long term, it is no different from the Ponzi scheme. The other method is the DeFi. In DeFi, people need to collateralize their coins and get something that can bring value to them. For example, mortgage lending. When you are unwilling to sell your coins and lack money, the CDP mortgage lending system can meet your needs. At this time, the WICC in your hand becomes a “ticket” to participate in the CDP mortgage lending system. The collateralization generated by this real demand is often solid because such users are less likely to quit fast. Because they benefit from WaykiChain and believe this kind of service will generate value, so it is not a zero-sum game. In the end, most of the people here are winners, so they cherish their chips. Once there are more users, there should be more reasons for them to buy more continuously. The reason for most people who buy token is nothing more than to see some good news which can be predicted. Halving is predicted, so there was a decent run at the start of the year. The World Cup was also a prediction and it is a piece of good news for betting-related blockchain. This prediction of a high degree of certainty in time can prompt a frenzied influx. But other than this quadrennial prediction（Halving or World Cup） of events, what expectations do you have for the community? The first is the technical aspect. A good technical public chain can attract more developers, and more developers can build more business models and have more imagination. To realize the expectation of the business model, users should value the future business growth of your current track and the most direct promotion of the economic model after the growth. For example, the growth of the mortgage lending business. The total collateral of WICC gets bigger ->Less liquidated WICC ->WICC’ s unit price raises with the demand stays the same. Or growth in mortgage lending->WGRT destruction becomes more numerous->WGRT’s unit price raises. This business model creates a rigid value in a currency. Finally, there comes the marketing ability, the user toned to trust that you are able to attract more investors at some point in the future. All financial activities generate bubbles, and how big an asset you end up with depends both on how much beer you have and how much bubble you can pour. If building business value is about brewing, marketing, and storytelling, it’s about pouring beer out of the bubble. About liquidity When it comes to liquidity, some people’s understanding of liquidity of a coin is to be listed on more exchanges, some people know a bit about some financial markets, so they say liquidity is the depth of the order book. I recently get some inspirations from David in Coinbase. Liquidity can be measured by the time you spend to convert an asset to purchase power. Cash is with the best liquidity, as it is almost equal to purchasing power. Property is less liquid because there are very few situations where you buy something directly from the house. Usually, you will have to turn it into cash and buy something else. So there’s a long period between when you decide to sell the house and when you get the money, and the longer that period is, the less liquid it is. USDT is relatively liquid because OTC transactions, which is a mature market in the current situation, allow people to convert the USDT into fiat money in minutes. Note that the above mentioned is to turn assets into purchasing power, rather than cash out. These two are essentially different. For example, if I want to purchase some service from a crypto media, I often use Eth, BTC, USDT, not cash. So I don’t need to sell off my digital currency to exchange cash, but directly pay it, which becomes purchasing power. From this perspective, any merchant accepting digital currency payments is enhancing the liquidity of the digital currency. Because he shortens the time it takes for assets to become purchasing power. As I said before, the keyword of the Internet fights is traffic, and the keyword of digital currency is liquidity. Much of what WICC does is to increase liquidity. Listing on Exchange shortens the time for WICC to transform into the purchasing power of other digital currencies. In real application scenarios, many people are reluctant to undertake the risk of digital currency fluctuations. They only like to denominate in fiat currency, so WUSD (stablecoin) that is generated by collateralizing WICC has better potential than WICC to become purchasing power. Huatong Security accepts WUSD as a payment method to buy HK/US Pre-IPO stocks shortens the time when some people want to convert WUSD into the purchasing power of Hong Kong and US stocks (In the normal process, this user must first sell, exchange fiat currency, and then open an account to buy Hong Kong and US stocks). The new project WaykiX shortens the time required to transform WICC into the purchasing power of investing in various assets around the world. Bitcoin’s technology has not been greatly updated since its inception, but its value remains the leader because of its liquidity. Similarly, in my opinion, the market value of USDT has soared because liquidity is becoming more and more mature. WaykiChain’s future development is also inseparable from liquidity. About Defi As mentioned above, liquidity is important. If you want to improve liquidity, you can cash out first and use cash to purchase most of things you want. However cash out itself is not what a project expects, because it will dump the price when a lot of people doing that. Therefore, collateralizing assets, generating stablecoins, and then enabling stablecoins to generate purchasing power has become a perfect model, which is the essence of WaykiChain 3-Token Economy Model. Regarding purchasing power, first we need to know what users want to buy. Many public chain projects, including WaykiChain, have begun to explore what kind of products and services that users want to buy. For example, betting products, value-added game services, or even e-commerce. All of these end up with nearly no results. As speculators’ paradise, the cryptocurrency circle usually care about borrowing money to make money. So, there is nothing more interesting for them than lending and making money. These people may not have the need to play games or buy things, but they must have the demand to make money. Therefore, finance must be the right direction for blockchain projects. WaykiChain will all in DeFi for at least the next two years. Many people say that WUSD is a stablecoin, so it needs to be compared with USDT. Rather than emphasize WUSD itself, I would rather like to say that WaykiChain ’s CDP is a lending system and service, and WUSD is just a stable value certificate. I am more concerned about the capacity of the CDP lending business itself, and whether it can provide users with the value of lending. As for when WUSD can become a freely circulating currency, it will take a long time to see how much purchasing power is endowed. Maybe at first, WUSD could buy WICC, WGRT, then the index of various global assets, then other digital currencies, then some Hong Kong stocks and US stocks, and finally maybe you can buy two packs of snacks with WUSD downstairs. Simple preview of the new product WaykiX, users can trade all kinds of global assets, including digital currencies, indices, stocks, commodity futures, and even contracts. We have high expectations for this product because we feel it can meet the “purchase” needs of most existing community users. This product learns from the Synthetix project and adds some local elements of WaykiChain, including the technical security reinforcement, as well as the improvement of the economic model and the risk resistance level. Someone asked, Ethereum has a complete DeFi ecosystem, and there are countless projects to start a business together. Why does WaykiChain have the power to fight with Ether? I would like to share a few points. The DeFi of Ethereum is aimed at users of Ethereum. We are currently targeting WaykiChain users. There is no conflict at present. In addition, DeFi seems to have a variety of patterns. It is nothing more than the four major categories of deposits, loans, liquidity, and derivatives. Our current developer community is not as prosperous as Ethereum, so WaykiChain uses a point-to-face model to first construct the core and head of DeFi to ensure quality and safety. When it can form a minimum closed-loop, and then let developers support those long-tail applications. Although it is a bit contrary to the concept of decentralization, we believe that this is an indispensable process for the implementation of the blockchain public chain。 About community I mentioned three directions in the first chapter on how to create the value of WaykiChain, the first is technology, the second is business model and applications, and the third is the marketing model and bubble. In fact, a healthy blockchain community is also attracted by these three parts of value, a core developer community, some coin holders with business needs, and a group of speculation or investors. To achieve the top five public chains in the world, these three groups must be huge. WaykiChain attracts the core developer community through the leading technology mechanism and the friendliness of public chain development. This is the reason why WaykiChain has invested a lot of resources in the technical level of the public chain. WaykiChain continues to create value for currency holders to meet their needs through the DeFi business. And eye-catching marketing methods to attract investors and speculators when market conditions improve and new market capital are sufficient. The bull market is short while the bear market is long. In the bear market, WaykiChain needs to continue to play at the table in a way with a high winning rate. These are my personal opinions. Welcome to discuss more with me.
Bylls — the Canadian Bitcoin bill payment service by Bull Bitcoin — celebrates its 6th birthday
I sometimes find it hard to believe that it has already been 6 years since the public launch of Bylls on January 13 2014. What started out as a simple and humble “garage startup”, the world’s first Bitcoin bill payment service, evolved into so much more. Bylls eventually became the company that people know today as Bull Bitcoin, and it is from Bylls’ UASF advocacy that sprouted the Cyphernode open-source project. I also like to think of Bylls as a “bitcoin culture” institution that served as the vanguard of the Bitcoin Maximalist and Cypherpunk movements within the Bitcoin exchange and payments industry. Happy Birthday Bylls! 🎂
What is Bylls?
For those of you who don’t know about Bylls, here’s a short summary:
Bylls lets Bitcoin users pay any bill in Canada with Bitcoin. We offer a comprehensive list of nearly 9000 billers (credit cards, utilities, telcos, taxes, brokerage accounts, law firms, “joe the plumber”, etc.)
Bylls lets Bitcoin users pay anyone or any business in Canada with Bitcoin by adding them as a personal payee (rent, employees, suppliers, friends).
The recipient of the payment doesn’t need to do anything and doesn’t even need to know you are using Bitcoin, as long as they are on our biller list or the user has his banking details.
Bylls is available exclusively to residents of Canada and all the recipients must also be, exclusively, individuals or companies residing in Canada.
Mission: Building the software and financial infrastructure for the Bitcoin Standard.
Short history of world’s first Bitcoin bill payment service
Bylls was founded in 2013 by Eric Spano, a Montreal entrepreneur part of the original Bitcoin Embassy team. Eric, one of my earliest and most influential mentors, is a true Bitcoin OG. Check out his 2014 Bitcoin Ted Talk or his 2019 Podcast on Tales From the Crypt which describes in great detail the inception of Bylls. When Bylls was launched, I was Public Affairs Director at the Bitcoin Embassy, the world’s first physical Bitcoin hub (a 14,000 square feet building downtown Montreal). Bylls was effectively a one-man operation, with Eric doing pretty much everything himself. I wasn’t directly involved with the company, but Bylls was one of the startups in the Embassy’s incubator program, so I was helping out in various ways. My first “public appearance” in the Bitcoin industry was actually to man the Bylls booth at the Toronto Bitcoin Expo in 2014! In 2015, Eric was offered a huge career opportunity that he couldn’t accept without stepping down from running Bylls. It was to me an inconceivable tragedy for Bitcoin to let Bylls quitely close down. For the past 2 years, whenever somebody asked me “what can you do with Bitcoin?”, I would always reply “well, for starters, you can pay all your bills in Canada, even your taxes and your credit card”. What was I going to say now? I had just founded my company Satoshi Portal Inc. with the aim of developing a non-custodial Bitcoin exchange (which eventually became Bull Bitcoin). And so, I acquired Bylls from Eric and it immediately became the focus of all my energy. For the first year, our team consisted of only 2 people including our lead developer Arthur which is still working on Bylls features to this day. From the beginning until today, we are still 100% self-funded. We grew organically and slowly. My philosophy on entrepreneurship and startup scaling is articulated in this medium post.It has been an incredibly intense journey. I cannot think of a more challenging professional experience than being a startup founder and entrepreneur in the Bitcoin industry. The number of Bitcoin startups that have perished since is a stark reminder. Some of them sank quietly, but many went down in flames taking down their users with them. The fact that Bylls is still standing — without VC funding and with its reputation intact — is my proudest achievement. Over the past 4 years. we completely redesigned the software, continuously adding new features, but the core of the service remained the same. Most importantly, we added the ability for users to pay any individual or business in Canada by creating a personal biller from their bank details. Previously, they were limited to Bylls’ biller list of around 9000 billers. One of the defining moments in the history of Bylls was UASF. Bylls was one of the first Bitcoin companies to support BIP-148 for the activation of Segwit (second after Bitconic). Not only that, but we were the first to run a public BIP-148 block explorer and public UASF electrum server. We had done a “seppuku pledge” regarding BIP-148, meaning that we would only accept coins from the UASF segwit chain and would pay the Bitcoin market price for them. If UASF had failed, we would not have survived. This cemented our ideology of “skin-in-the-game”. We would never compromise on our values, no matter the cost. Our policy on forks (2017) was described here. But the jist of it is:
Satoshi Portal is a Bitcoin-only company and does not conduct any transaction in any altcoin, including altcoins that are the result of a fork of the Bitcoin blockchain and which can be spent with Bitcoin private keys. This includes, but is not limited to, the coins commonly referred to as BCash, Segwit2X, BGold, Clams and Lumens.We strongly oppose the “New York Agreement” and will under no circumstance ever recognize the Segwit2X blockchain (and BTC1 client) as Bitcoin, regardless of market response or hashing power. In the unlikely event that an overwhelming majority of the Bitcoin ecosystem migrates to the Segwit2X blockchain, Satoshi Portal will continue nevertheless to support the Bitcoin blockchain.
Following the UASF/NO2X “war” in 2017, we devoted a large prortion of ressources to building Cyphernode, an open-source project that makes it very easy for startups to build and deploy Bitcoin applies without any third-parties, using exclusively their own full nodes. We are still developing this project today and plan on actively maintaining it in the future. It is also worth noting that Bylls has never accepted any altcoins and was one of the first company to pledge never to accept altcoins in the future, leading to what became the “Bitcoin-Only” movement. We were also the first Bitcoin exchange and payment processing company, to our knowledge, that has integrated coinjoin as part of its processes.
Unbanking yourself with Bylls
The coolest feature of Bylls is that you can pay pretty much all your expenses with Bitcoin without needing to go through a bank account. In Canada, you can obtain a credit card without having it linked to a bank account. In 2016, the last of my personal bank accounts was closed due to my activities in the Bitcoin industry. I decided not apply at another bank and try the experiment of living completely unbanked. I’m happy to report it was a success, and serves as a powerful testament for the use-cases provided by Bylls. I really like the idea of not owning any fiat. You can pay pretty much all daily expenses with a credit card, and pay back the debt with Bitcoin. Of course you have fiat-denominated debts which conveniently tends to diminish in price over time. You can withdraw cash from a credit card and pay it off instantly with Bylls, so you can get access to cash at any time, in any country across the world, without having a bank account. The only inconvenience is the cash advance fee. When you have to pay larger amounts such as rent or whatever services don’t accept cash or credit card, you can find the biller in the Bylls list or ask the recipient for his banking details, the same as you would for a wire transfer.
The future of Bylls
Many people ask us if we intend to expand outside of Canada. The answer is, unequivocally, no. We will always be a Canada-only, Bitcoin-only company. That doesn’t mean that we stop working hard to improve our services. We will continue to be the first to integrate the cutting-edge Bitcoin technologies that Here is are some of the features you can expect in 2020:
Pay billers via Interac E-Transfer instead of Direct Deposit only
More advanced Coinjoin and privacy features
Bylls merchant services: Bitcoin-payable invoices to clients
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