26. Accumulation And Distribution Zones – TrustForex

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What Is Capitalism?

Capitalism is an economic system in which private individuals or businesses own capital goods. The production of goods and services is based on supply and demand in the general market—known as a market economy—rather than through central planning—known as a planned economy or command economy.
The purest form of capitalism is free market or laissez-faire capitalism. Here, private individuals are unrestrained. They may determine where to invest, what to produce or sell, and at which prices to exchange goods and services. The laissez-faire marketplace operates without checks or controls.
Today, most countries practice a mixed capitalist system that includes some degree of government regulation of business and ownership of select industries.
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Capitalism

Understanding Capitalism

Functionally speaking, capitalism is one process by which the problems of economic production and resource distribution might be resolved. Instead of planning economic decisions through centralized political methods, as with socialism or feudalism, economic planning under capitalism occurs via decentralized and voluntary decisions.

KEY TAKEAWAYS

  • Capitalism is an economic system characterized by private ownership of the means of production, especially in the industrial sector.
  • Capitalism depends on the enforcement of private property rights, which provide incentives for investment in and productive use of productive capital.
  • Capitalism developed historically out of previous systems of feudalism and mercantilism in Europe, and dramatically expanded industrialization and the large-scale availability of mass-market consumer goods.
  • Pure capitalism can be contrasted with pure socialism (where all means of production are collective or state-owned) and mixed economies (which lie on a continuum between pure capitalism and pure socialism).
  • The real-world practice of capitalism typically involves some degree of so-called “crony capitalism” due to demands from business for favorable government intervention and governments’ incentive to intervene in the economy.

Capitalism and Private Property

Private property rights are fundamental to capitalism. Most modern concepts of private property stem from John Locke's theory of homesteading, in which human beings claim ownership through mixing their labor with unclaimed resources. Once owned, the only legitimate means of transferring property are through voluntary exchange, gifts, inheritance, or re-homesteading of abandoned property.
Private property promotes efficiency by giving the owner of resources an incentive to maximize the value of their property. So, the more valuable the resource is, the more trading power it provides the owner. In a capitalist system, the person who owns the property is entitled to any value associated with that property.
For individuals or businesses to deploy their capital goods confidently, a system must exist that protects their legal right to own or transfer private property. A capitalist society will rely on the use of contracts, fair dealing, and tort law to facilitate and enforce these private property rights.
When a property is not privately owned but shared by the public, a problem known as the tragedy of the commons can emerge. With a common pool resource, which all people can use, and none can limit access to, all individuals have an incentive to extract as much use value as they can and no incentive to conserve or reinvest in the resource. Privatizing the resource is one possible solution to this problem, along with various voluntary or involuntary collective action approaches.

Capitalism, Profits, and Losses

Profits are closely associated with the concept of private property. By definition, an individual only enters into a voluntary exchange of private property when they believe the exchange benefits them in some psychic or material way. In such trades, each party gains extra subjective value, or profit, from the transaction.
Voluntary trade is the mechanism that drives activity in a capitalist system. The owners of resources compete with one another over consumers, who in turn, compete with other consumers over goods and services. All of this activity is built into the price system, which balances supply and demand to coordinate the distribution of resources.
A capitalist earns the highest profit by using capital goods most efficiently while producing the highest-value good or service. In this system, information about what is highest-valued is transmitted through those prices at which another individual voluntarily purchases the capitalist's good or service. Profits are an indication that less valuable inputs have been transformed into more valuable outputs. By contrast, the capitalist suffers losses when capital resources are not used efficiently and instead create less valuable outputs.

Free Enterprise or Capitalism?

Capitalism and free enterprise are often seen as synonymous. In truth, they are closely related yet distinct terms with overlapping features. It is possible to have a capitalist economy without complete free enterprise, and possible to have a free market without capitalism.
Any economy is capitalist as long as private individuals control the factors of production. However, a capitalist system can still be regulated by government laws, and the profits of capitalist endeavors can still be taxed heavily.
"Free enterprise" can roughly be understood to mean economic exchanges free of coercive government influence. Although unlikely, it is possible to conceive of a system where individuals choose to hold all property rights in common. Private property rights still exist in a free enterprise system, although the private property may be voluntarily treated as communal without a government mandate.
Many Native American tribes existed with elements of these arrangements, and within a broader capitalist economic family, clubs, co-ops, and joint-stock business firms like partnerships or corporations are all examples of common property institutions.
If accumulation, ownership, and profiting from capital is the central principle of capitalism, then freedom from state coercion is the central principle of free enterprise.

Feudalism the Root of Capitalism

Capitalism grew out of European feudalism. Up until the 12th century, less than 5% of the population of Europe lived in towns. Skilled workers lived in the city but received their keep from feudal lords rather than a real wage, and most workers were serfs for landed nobles. However, by the late Middle Ages rising urbanism, with cities as centers of industry and trade, become more and more economically important.
The advent of true wages offered by the trades encouraged more people to move into towns where they could get money rather than subsistence in exchange for labor. Families’ extra sons and daughters who needed to be put to work, could find new sources of income in the trade towns. Child labor was as much a part of the town's economic development as serfdom was part of the rural life.

Mercantilism Replaces Feudalism

Mercantilism gradually replaced the feudal economic system in Western Europe and became the primary economic system of commerce during the 16th to 18th centuries. Mercantilism started as trade between towns, but it was not necessarily competitive trade. Initially, each town had vastly different products and services that were slowly homogenized by demand over time.
After the homogenization of goods, trade was carried out in broader and broader circles: town to town, county to county, province to province, and, finally, nation to nation. When too many nations were offering similar goods for trade, the trade took on a competitive edge that was sharpened by strong feelings of nationalism in a continent that was constantly embroiled in wars.
Colonialism flourished alongside mercantilism, but the nations seeding the world with settlements were not trying to increase trade. Most colonies were set up with an economic system that smacked of feudalism, with their raw goods going back to the motherland and, in the case of the British colonies in North America, being forced to repurchase the finished product with a pseudo-currency that prevented them from trading with other nations.
It was Adam Smith who noticed that mercantilism was not a force of development and change, but a regressive system that was creating trade imbalances between nations and keeping them from advancing. His ideas for a free market opened the world to capitalism.

Growth of Industrial Capitalism

Smith's ideas were well-timed, as the Industrial Revolution was starting to cause tremors that would soon shake the Western world. The (often literal) gold mine of colonialism had brought new wealth and new demand for the products of domestic industries, which drove the expansion and mechanization of production. As technology leaped ahead and factories no longer had to be built near waterways or windmills to function, industrialists began building in the cities where there were now thousands of people to supply ready labor.
Industrial tycoons were the first people to amass their wealth in their lifetimes, often outstripping both the landed nobles and many of the money lending/banking families. For the first time in history, common people could have hopes of becoming wealthy. The new money crowd built more factories that required more labor, while also producing more goods for people to purchase.
During this period, the term "capitalism"—originating from the Latin word "capitalis," which means "head of cattle"—was first used by French socialist Louis Blanc in 1850, to signify a system of exclusive ownership of industrial means of production by private individuals rather than shared ownership.
Contrary to popular belief, Karl Marx did not coin the word "capitalism," although he certainly contributed to the rise of its use.

Industrial Capitalism's Effects

Industrial capitalism tended to benefit more levels of society rather than just the aristocratic class. Wages increased, helped greatly by the formation of unions. The standard of living also increased with the glut of affordable products being mass-produced. This growth led to the formation of a middle class and began to lift more and more people from the lower classes to swell its ranks.
The economic freedoms of capitalism matured alongside democratic political freedoms, liberal individualism, and the theory of natural rights. This unified maturity is not to say, however, that all capitalist systems are politically free or encourage individual liberty. Economist Milton Friedman, an advocate of capitalism and individual liberty, wrote in Capitalism and Freedom (1962) that "capitalism is a necessary condition for political freedom. It is not a sufficient condition."
A dramatic expansion of the financial sector accompanied the rise of industrial capitalism. Banks had previously served as warehouses for valuables, clearinghouses for long-distance trade, or lenders to nobles and governments. Now they came to serve the needs of everyday commerce and the intermediation of credit for large, long-term investment projects. By the 20th century, as stock exchanges became increasingly public and investment vehicles opened up to more individuals, some economists identified a variation on the system: financial capitalism.

Capitalism and Economic Growth

By creating incentives for entrepreneurs to reallocate away resources from unprofitable channels and into areas where consumers value them more highly, capitalism has proven a highly effective vehicle for economic growth.
Before the rise of capitalism in the 18th and 19th centuries, rapid economic growth occurred primarily through conquest and extraction of resources from conquered peoples. In general, this was a localized, zero-sum process. Research suggests average global per-capita income was unchanged between the rise of agricultural societies through approximately 1750 when the roots of the first Industrial Revolution took hold.
In subsequent centuries, capitalist production processes have greatly enhanced productive capacity. More and better goods became cheaply accessible to wide populations, raising standards of living in previously unthinkable ways. As a result, most political theorists and nearly all economists argue that capitalism is the most efficient and productive system of exchange.

Capitalism vs. Socialism

In terms of political economy, capitalism is often pitted against socialism. The fundamental difference between capitalism and socialism is the ownership and control of the means of production. In a capitalist economy, property and businesses are owned and controlled by individuals. In a socialist economy, the state owns and manages the vital means of production. However, other differences also exist in the form of equity, efficiency, and employment.

Equity

The capitalist economy is unconcerned about equitable arrangements. The argument is that inequality is the driving force that encourages innovation, which then pushes economic development. The primary concern of the socialist model is the redistribution of wealth and resources from the rich to the poor, out of fairness, and to ensure equality in opportunity and equality of outcome. Equality is valued above high achievement, and the collective good is viewed above the opportunity for individuals to advance.

Efficiency

The capitalist argument is that the profit incentive drives corporations to develop innovative new products that are desired by the consumer and have demand in the marketplace. It is argued that the state ownership of the means of production leads to inefficiency because, without the motivation to earn more money, management, workers, and developers are less likely to put forth the extra effort to push new ideas or products.

Employment

In a capitalist economy, the state does not directly employ the workforce. This lack of government-run employment can lead to unemployment during economic recessions and depressions. In a socialist economy, the state is the primary employer. During times of economic hardship, the socialist state can order hiring, so there is full employment. Also, there tends to be a stronger "safety net" in socialist systems for workers who are injured or permanently disabled. Those who can no longer work have fewer options available to help them in capitalist societies.

Mixed System vs. Pure Capitalism

When the government owns some but not all of the means of production, but government interests may legally circumvent, replace, limit, or otherwise regulate private economic interests, that is said to be a mixed economy or mixed economic system. A mixed economy respects property rights, but places limits on them.
Property owners are restricted with regards to how they exchange with one another. These restrictions come in many forms, such as minimum wage laws, tariffs, quotas, windfall taxes, license restrictions, prohibited products or contracts, direct public expropriation, anti-trust legislation, legal tender laws, subsidies, and eminent domain. Governments in mixed economies also fully or partly own and operate certain industries, especially those considered public goods, often enforcing legally binding monopolies in those industries to prohibit competition by private entities.
In contrast, pure capitalism, also known as laissez-faire capitalism or anarcho-capitalism, (such as professed by Murray N. Rothbard) all industries are left up to private ownership and operation, including public goods, and no central government authority provides regulation or supervision of economic activity in general.
The standard spectrum of economic systems places laissez-faire capitalism at one extreme and a complete planned economy—such as communism—at the other. Everything in the middle could be said to be a mixed economy. The mixed economy has elements of both central planning and unplanned private business.
By this definition, nearly every country in the world has a mixed economy, but contemporary mixed economies range in their levels of government intervention. The U.S. and the U.K. have a relatively pure type of capitalism with a minimum of federal regulation in financial and labor markets—sometimes known as Anglo-Saxon capitalism—while Canada and the Nordic countries have created a balance between socialism and capitalism.
Many European nations practice welfare capitalism, a system that is concerned with the social welfare of the worker, and includes such policies as state pensions, universal healthcare, collective bargaining, and industrial safety codes.

Crony Capitalism

Crony capitalism refers to a capitalist society that is based on the close relationships between business people and the state. Instead of success being determined by a free market and the rule of law, the success of a business is dependent on the favoritism that is shown to it by the government in the form of tax breaks, government grants, and other incentives.
In practice, this is the dominant form of capitalism worldwide due to the powerful incentives both faced by governments to extract resources by taxing, regulating, and fostering rent-seeking activity, and those faced by capitalist businesses to increase profits by obtaining subsidies, limiting competition, and erecting barriers to entry. In effect, these forces represent a kind of supply and demand for government intervention in the economy, which arises from the economic system itself.
Crony capitalism is widely blamed for a range of social and economic woes. Both socialists and capitalists blame each other for the rise of crony capitalism. Socialists believe that crony capitalism is the inevitable result of pure capitalism. On the other hand, capitalists believe that crony capitalism arises from the need of socialist governments to control the economy.
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Everything You Need to Know About WaykiChain

Everything You Need to Know About WaykiChain
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What is WaykiChain?

WaykiChain is a block public chain focusing on blockchain technology development and related operations. WaykiChain has positioned itself as an infrastructure that is based on both Ethereum and Blockchain, intending to trigger a collective growth of different industries by presenting an enterprise solution.

Determined to build a world-class decentralized platform and ecosystem, WaykiChain launched the first smart-contract-based game prediction DApp in May 2018 with over 130,000 install volume, token WICC listed in 100+ exchanges, peaking at $3, community members over 300K, is believed to be innovating a new business model in the new era.
WaykiChain, a team focused on blockchain industry’s foundation and application development, now consisting of nearly 70 people, with core members from world-renowned companies such as Alibaba, Tencent, Morgan Stanley and Intel, is hoping to ultimately achieve an ecosystem that everyone can participate in the building and share the results.

Where is WaykiChain Heading?

The future of WaykiChain is a big community-driven public chain ecosystem. WaykiChain aims to build a decentralized application platform that can provide users with complete on-chain smart contract system. Anyone can realize their business ideas on WaykiChain and develop their own DApp, and build their own brands.
WaykiChain takes decentralized prediction, assets trading and forex trading as entry industries to expand markets in the early stage. After accumulating plenty of application users and developers, WaykiChain will gradually perfect its upper blockchain applications.
Currently, WaykiChain tech team is focusing on underlying public chain development. WaykiChain will provide friendly development environment to developers with sufficient development templates an interfaces. Besides, WaykiChain team plans to take a part of WICC as reward those developers who have made important contributions to the community. WaykiChain is committed to building an underlying technology platform that truly integrates blockchain application and real business. Along with its development, WaykiChain will gradually grow into a big ecosystem with totally decentralized operations, and brings the convenience of blockchain to every user.

Further Reading

White Paper
WaykiChain white paper is in update now, and will be available soon.
Huobi Project Center
https://www.huobi.br.com/projectcenteproject/?id=91&utm_source=Marketing&utm_medium=Referral&utm_campaign=WICC
Waykichain Developer-Friendly Community
http://www.waykichain.com/announcement.html?id=887

WaykiChain’s Technology

Consensus Mechanism
Delegated Proof of Stake (DPoS) is a consensus algorithm maintaining irrefutable agreement on the truth across the network, validating transactions and acting as a form of digital democracy. Delegated through token holders’ vote, ledgers nodes will package all the transactions in the block and get corresponding reward. DPOS can maximize token holders’ interests and network performance, meanwhile minimize the maintenance and operation costs.
WaykiChain adopts DPoS, which is the most adaptive consensus mechanism for developing and operating applications on chain. The block is successively generated by 11 ledger nodes. Every 10 seconds, a new block will be generated on WaykiChain. Verified by WaykiChain mainnet operation, the transaction confirmation speed can reach 1000+tps.
Vote Mechanism
WaykiChain adopts DPOS consensus mechanism with 11 ledger nodes. When a block is generated, a node is elected with the most votes according to random perturbation algorithm from the 11 nodes. Then ledger node gains all of the transaction fee in its ledger block. Users can get proportionate votes by locking their WICC. Every node can be cast for 11 candidates at most. Every voted user will be awarded proportionate interest. When users’ corresponding accounts’ votes changes, the interest from voting will be received automatically. The first year’s rate of interest is 5% and it will decrease 1% annually during the following years. Finally, the annual rate of interest will be fixed at 1% permanently.
Smart Contracts
WaykiChain is a smart contract platform that supports Turing devices. These smart contracts can help in a variety of real-world applications including copyright issues, decentralized exchanges and asset problems. It adopts DPOS consensus mechanism, sets up 11 voting nodes, and generates a new block every 10 seconds. According to detailed calculation by WaykiChain team, currently, the confirmed transaction speed can reach 1000+tps.
WaykiChain’s smart contract can be built using the programming language Lua. Lua was developed in the early 1990s and has an extensive developer community. It has been used in desktop development, web development and the Internet of Things. It also is one of the easiest programming languages and hence it provides an incentive for developers to code on WaykiChain’s platform.
Sidechain
The most popular smart contract cryptocurrency Ethereum, failed when Cryptokitties were released. Ethereum’s network was unable to handle the massive influx of users. Thus, scalability remains a huge problem. Fortunately, WaykiChain has a feature known as sidechains which can deal with huge amount of users. Applications built on WaykiChains will have their own sidechains and they are not linked in any way to each other.
WaykiChain Ecosystem Development System
WaykiChain ecosystem development system is driven and co-developed by three parties: WaykiChain core developers, open source community developers and business developers. In the decentralized system, WaykiChain team will provide technical standards and community contribution incentives to ensure that the entire ecosystem moves forward as a whole. On the basis of the underlying public chain, plug-ins, and smart contracts, business developers are able to develop applications efficiently and build their own brands with blockchain’s credit endorsement.
WaykiChain plans to establish Technology Research Academy to gather a group of outstanding developers with decentralized blockchain beliefs. WaykiChain will provide underlying technology support and standards. Developers in the academy can free communicate, learn from each other and co-develop a fully decentralized community.
Ecosystem Layered Architecture
WaykiChain technology stack consists of four layers: the core node layer, the wallet node layer, the application platform layer, and the DApp application layer. Any developer can choose which layer to start development based on their own development capability, business needs, and application flexibility needs. WaykiChain core technology team is committed to providing the develop-friendly interfaces of each layer and improving the technical documentation to help the community better build the ecosystem.

Further Reading

WaykiChain Github: https://github.com/WaykiChain/WaykiChain
How Does WaykiChain Work?
WaykiChain uses a DPoS consensus mechanism with eleven accounting nodes. The annual rate of return is 5% for the first year, with a 1% increase with every year that goes by. Each time a block is created, an accounting node is randomly associated. The accounting node gains all of the transaction fees in its accounting block. Users can earn interest by locking WaykiChain coins. The interest is automatically determined each time the votes for the corresponding user account change.
The terms of betting are triggered by the initiator through smart contract transactions. Users can initiate various betting contract transactions, all of which can be searched and identified in the block browsers. When the betting is over, the bet initiation will publish the final results and the gaining will be then shared accordingly. In short, the betting revenue is automatically issued to the user’s wallet after the betting results are displayed.
The smart contract provided by the platform makes it possible for asset initiations to create dividend sharing rules. These rules are only triggered by various conditions. Hence, the final price of the assets in circulation will be determined by the market’s behavior towards the object in the transaction.

WaykiChain Applications

Token System
Waykichain Token, WICC is a token only used and circulated in WaykiChain Wallet DApp. WICC itself does not have any FIAT characteristics. By consuming WICC as a kind of fuel, users can use applications on WaykiChain; by locking their WICC for a certain period of time, users can share the revenue from WICC Lock Revenue Sharing Plan; and by voting for effective and stable accounting nodes, users can earn related interest. WICC can be obtained by participating in the lock plan, by accounting, voting, and subscription, or by trading with other holders. This means WICC will be listed on lots of exchanges and traded with other cryptocurrencies, thus WICC also has trade value.
WaykiChain Block Explorer
WaykiChain official block explorer is a data display system for WaykiChian applications, which displays the WICC transfer and transaction records, account balances, prediction games transactions, and payout results according to application data on the blockchain. All data is open and transparent and inherently irreversible.
WICC Lock & Revenue Sharing Plan
In order to reward all community supporters and provide a channel for application operators to make retribution to community, WaykiChain launched WICC Lock & Revenue Sharing Plan. Application operators can provide a portion of the proceeds to the community members to encourage their contribution to the entire public chain, and to motivate the community to continuously improve the public chain as a more robust underlying system. Investors can lock their own WICC, as a way of showing long-term optimism about the project, to get a certain amount of revenue.
Investors can lock a certain number of mainnet WICC through the entrance in WaykiChain DApp. During the lock period, this part of WICC cannot be traded, transferred, or consumed as transaction fee. When the lock period expired, WICC will be automatically unlocked and become tradable. During the lock period, investors will receive WICC revenue at the end of each month. The amount of each investor’s WICC revenue is related to his/her WICC lock volume and duration, total WICC revenue generated during the period, and the total WICC lock volume and duration of all investors participating in the lock plan during this period. Specific calculating formula is as follows:
WICC Lock revenue Calculation Formula:
Each investor’s daily WICC revenue = Each investor’s lock index / The sum of each investor’s lock index * Total WICC revenue that day
Each investor’s lock index = Each investor’s WICC lock volume * Time index * Volume index

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Time Index Table
Decentralized App
The first smart contract based application delivered by WaykiChain’s team is the WaykiChain decentralized betting application. In this application, the smart contract will assign a time duration in which the user can engage in the betting process. All the conditions related to betting will be given. When a bet is finished, the contract will release the results. The smart contract will then reward the winners.
This DApp was launched in May 2018, attracting over 130,000 users to download and bet and has been upgraded to V2.1 ever since. The latest product WaykiBet DApp V2.5 is planned to launch in November along with a new WaykiChain wallet.
WaykiBet V2.5 enables a new feature that everyone can be a bookmaker. With the authoritative event data and services provided by WaykiChain DApp, user even without any technical or product background can build a bet in simply one-click. And at the end of the game, WaykiBet will automatically call the smart contract to calculate the bet results and deliver payouts, without any manual participation.
Besides, WaykiBet V2.5 has exempted the betting fee through the structure optimization and allows the player to participate in the betting directly after creating a new wallet without activation to ensure users outside of the cryptocurrency industry can be involved in the easiest manner.
WaykiTimes Wallet
The new WaykiChain wallet, named as WaykiTimes will retain the original wallet functions, such as Lock Revenue Sharing and node voting. The newly added “Forum” gathers the community of WaykiChain and blockchain together, will become an ecology of open communication. Meanwhile it will has a “News” section to meet different users’ needs. In the future, WaykiTimes will implement WaykiChain token economy to encourage the community members.
Getting Setup
Download WaykiBet DApp V.2.5 at official website: https://www.waykichain.com/

Meet the Team

WaykiChain team is comprised out of over 60 individuals with relevant experience in marketing, business, betting, lottery, betting and crypto industries.
Wayki Sun, Founder & CSO
One of the earliest digital currency investors and entrepreneurs in China. The founder of Xinhuo Network, the founder of Ou Lu Zhong Chou and the Managing Director of Jufeng Digital Asset Management Co., Ltd. Sun led an investment team of hundreds of people with great achievements made in stock, foreign exchange, futures and digital currency markets.
Gordon Gao, CEO
Gordon Gao, an alumni of Columbia University, ex-Lead Data Scientist of Fishbowl in Wall Street, ex-Senior Data Analyst of Alibaba Group, senior member of Mensa International Club. He is responsible for offering support to WaykiChain’s commercial model designing and strategy planning, building up a digitalized monitor system for products and operation and promoting WaykiChain overseas with his international background.
Tony Chau, Co-founder & CBO
Bachelor’s Degree in Finance from the University of Toronto in Canada and served in Hongshang Asset Management Co., Ltd. Focused on industrial surveys and commercial analysis, with in-depth research and distinctive perception on business operation models, and professional financial knowledge and complete project experience.
Tame Huang, Chief Consultant
The founder of BTC38, served as Product Manager and Project Manager of Tencent, Vice President of Fantasy Basketball, and Chief Strategy Officer of Licai Box; Huang was involved in the investment on more than ten high-tech enterprises, such as Jidian Technology, Yixiang Network, Maoming Rural and Commercial Bank, Jujin Technology, Cointime, etc., and established the Bitcoin Time Digital Currency Exchange in May 2013.
Xi Zhang, CPO
Tsinghua MBA, former Senior Product Manager of Tencent. Xi Zhang has been engaged in Internet industry for 14 years with several entrepreneurial experiences. In 2008, he joined aibo123.com as Product Director, responsible for the product design and operation of Olympics lottery. In 2014, he stared his own business and founded QiuShang APP, the first prediction APP in China applying big data prediction with 8% return rate and 67% win rate. In 2016, as a partner, he joined the Haiqiu Technology founded by famous football player Sun Jihai, responsible for the Miaohai business unit. He was fully responsible for the products, technology, operations, and marketing of Miaohai sports short video APP. The total downloads of Miaohai APP were 6 million and daily active users were 1 million.
Richard Chen, CTO
Master of Computer Science from the National University of Singapore and Bachelor of Communication Engineering from Shanghai Jiao Tong University. Richard worked for Alibaba and was responsible for the internal and external information security system construction of the entire groups Customer Service Department. Prior to this, Richard also served as Senior Vice President for the worlds top investment bank Morgan Stanley for 3 years and Intel Chief Architect for 8 years. Richard has received four US patents and won Intel Achievement Award (IAA). Richard has published several global patents in encryption technology, distributed network communication and collaboration, and big data.
Xiang Li, CMO
MBA degree from Tsinghua University, former COO of Brightoil Online under Brightoil Petroleum (Holdings) Limited, senior manager of Dacheng Food (Asia) Limited, has over a decade of experience in marketing and brand building. Ms. Li is an expert in building brand strategy, brand positioning, advertising channels, event marketing, crisis management, etc. Now Ms. Li is the marketing director of WaykiChain, responsible for the brand operation of WaykiChain in the global market and marketing cooperation.
Getting Connected:
  1. Website: https://www.waykichain.com/aboutUs.html
  2. Telegram: https://t.me/wiccofficial

FAQ:

What is WICC? How to Buy WICC?
WICC is the token launched by WaykiChain. In order to buy WaykiChain (WICC), we recommend you to buy some BTC or ETH (the highest volume trading pairs) from an exchange that accepts them. Then, you will have to find a marketplace that sells WICC in exchange for the aforementioned cryptocurrencies. We recommend you to buy WICC at AEX or Huobi Exchange (AEX has already supported WICC mainnet migration, Huobi will support the migration in November, 2018). For more information on this matter, you can visit CoinMarketCap.
When it comes to storing your WICC coins, it’s recommended that you use the official WaykiChain wallet. By consuming the tokens, you can also use various applications on WaykiChain.
What is the use of WICC?
WICC is a token used and circulated in WaykiChain Wallet DApp. WICC itself does not have any FIAT characteristics. By consuming WICC as a kind of fuel, users can use applications on WaykiChain; by locking their WICC for a certain period of time, users can share the revenue from WICC lock plan; and by voting for effective and stable accounting nodes, users can earn related interest. WICC can be obtained by participating in the lock plan, by accounting, voting, and subscription, or by trading with other holders. WICC has been listed on over 100 exchanges and trading with other cryptocurrencies for almost 1 year, thus WICC also has trade value.
What are WaykiChain’s advantages as a public chain 3.0?
There are three different types of blockchain: public chain, consortium chain, and private chain. Public chain refers to the consensual blockchain that any individual or team can read and send transactions to, and obtain valid confirmation. Public chain, also known as the non-license chain, is totally open to the whole network that any node can access or leave at any time without any permission. As a public chain of blockchain 3.0, WaykiChain has the advantages of high speed, high stability and flexibility, and low handling fee, providing rich development tools and perfect development environment for worldwide developers. Adopting DPoS consensus mechanism, sidechain technology and other technologies, WaykiChain can process 1000+ transaction requests per second. Relying on its strong strength of underlying technology and innovation, WaykiChain can effectively support high-traffic application scenarios and realize the landing of WaykiChain ecological applications.
What is WaykiChain decentralized betting application?
WaykiChain decentralized betting application is the first smart contract application launched by WaykiChain team. Each betting is triggered by the application developer via a smart contract. During the period specified in the contract, the users can initiate betting transaction, and all betting records can be traced on the blockchain browser and can never be tampered with. The smart contract will automatically reward the winners based on the final result. WaykiChain will use smart contract to automatically execute the game rule on its public chain. Instead of relying on trust between people, WaykiChain betting application adopts trust among machines to save credit costs, and guarantees full compliance with the rules setting. Besides WaykiChain Official, the developers of the decentralized applications can be any other third-parties. WaykiChain welcomes all developers to join.
What is WaykiChain Address?
WaykiChain address is a 34-bit string consisting of English letters and numbers that may look like digital gibberish. My WaykiChain address WXv6xP8yVW4PkZ3DPvxqfBtfz7Bof1RJHm, as an example, looks like this. All transfer records for each WaykiChain address can be found through the blockchain explorer. The address is a personal WaykiChain account like your bank account number. Anyone can transfer WICC to you via your WaykiChain address. How do I get my own WaykiChain address then? You can download a WaykiChain Wallet on WaykiChain official website, or register one on trading platforms. Each user’s WaykiChain address is unique. It should be noted that each WaykiChain wallet can only create one address, therefore the wallet mnemonics must be kept carefully.
What consensus mechanism does WaykiChain adopt?
WaykiChain adopts DPOS consensus mechanism, a new algorithm to guarantee the security of cryptocurrency network. DPOS consensus mechanism can offset the negative effects of centralization through implementing technology-based democracy, and maximize the effectiveness of the public chain through nodes accounting. DPOS can be understood as giving the token holders a key to open the voting rights corresponding to their tokens, instead of giving them a shovel to mine. DPOS can maximize the profitability of the token holders, minimize the cost of network security, maximize the efficiency of network, and minimize the cost of network operation. WaykiChain has 11 accounting nodes in total. The nodes are generated by the token holders’voting. If nodes are making trouble or cannot account normally, the token holders can change their votes, so that there will be other nodes to replace to ensure that the public chain can be operating normally.
What is WaykiChain mainnet migration?
WaykiChain (WICC) mainnet migration is the process of replacing the previous Ethereum-based token ERC20 TOKEN with WaykiChain mainnet token. WaykiChain public chain, through several months of testing and rigorous evaluation from the exchange platforms after its release, has been fully proven to operate efficiently and stably. Mainnet migration marks that WaykiChain public chain is actually putting into use. After the mainnet migration, various applications and developments based on WaykiChain can be launched, and the service period of WaykiChain public chain truly starts. The dividend mechanism, voting mechanism, gas consumption, and accounting fees on WaykiChain ecosystem are all completed by the mainnet token. The previous ERC20 tokens do not have these functions. By the end of June 26th, AEX Exchange, CEO Exchange, and Bying Wallet have supported WICC mainnet migration. There will be more exchanges and wallets supporting the migration in the future. Please follow WaykiChain’s Wechat official account for more details.
Are there any requirements or restrictions for developing projects on WaykiChain?
WaykiChain’s code is completely open. WaykiChain welcomes third parties worldwide to develop, carry and operate various application products on WaykiChain, and finally form a diversiform public chain community ecology. WaykiChain is happy to provide public chain technology support for any individuals or third parties. Applications developed and operated by third parties, based on WaykiChain public chain, need to comply with local laws and policies. Only after obtaining related licenses, permits or qualifications required by local laws and policies, developers and operators can launch and operate their applications on WaykiChain. Because of blockchain public chain’s globality, anonymity, open code, and the limitation of our ability, WaykiChain Official cannot judge the identity of third parties, nor have the ability and right to verify, supervise, control or interfere the third parties. Therefore, third parties should bear responsibility of their own actions.
What is WaykiChain Block Explorer?
WaykiChain Block Explorer is a system that displays all transaction information on WaykiChain and provides visualized track services. Technically, a block explorer works by scanning the block into the database server and then setting up a Web access service. Users only need to import the transaction hash to check whether the transaction has been packaged and confirmed. From the point of product, block explorer is more suitable to be called as asset explorer, which provides asset certification for users so that they don’t have to visually identify or manually analyze the transactions themselves. The block explorer also provides statistics of blocks and transactions, helping users to directly understand the activity of the blockchain. The statistics can also be translated into various indexes for investors to understand the project. To track the transactions, users can search relevant information on WaykiChain official website through WaykiChain wallet address, transaction hash or block height.

Further Reading

https://www.waykichain.com/question.html

Wish List for WaykiChain

Just thinking it would be great to create a post for everyone to post what they want to have for future releases of the Waykichain DApp or anything related to using Waykichain.
Welcome feedback from the community, so please do get in touch. Want to dive in further? Follow WaykiChain onTwitter, Medium and LinkedIn.
submitted by Waykichain to u/Waykichain [link] [comments]

Everything You Need to Know About WaykiChain

Everything You Need to Know About WaykiChain

https://preview.redd.it/uho8eww9npw11.png?width=880&format=png&auto=webp&s=960d1dc0f9afa9c17633a4fae2c43a41ace45260

What is WaykiChain?

WaykiChain is a block public chain focusing on blockchain technology development and related operations. WaykiChain has positioned itself as an infrastructure that is based on both Ethereum and Blockchain, intending to trigger a collective growth of different industries by presenting an enterprise solution.

Determined to build a world-class decentralized platform and ecosystem, WaykiChain launched the first smart-contract-based game prediction DApp in May 2018 with over 130,000 install volume, token WICC listed in 100+ exchanges, peaking at $3, community members over 300K, is believed to be innovating a new business model in the new era.
WaykiChain, a team focused on blockchain industry’s foundation and application development, now consisting of nearly 70 people, with core members from world-renowned companies such as Alibaba, Tencent, Morgan Stanley and Intel, is hoping to ultimately achieve an ecosystem that everyone can participate in the building and share the results.

Where is WaykiChain Heading?

The future of WaykiChain is a big community-driven public chain ecosystem. WaykiChain aims to build a decentralized application platform that can provide users with complete on-chain smart contract system. Anyone can realize their business ideas on WaykiChain and develop their own DApp, and build their own brands.
WaykiChain takes decentralized prediction, assets trading and forex trading as entry industries to expand markets in the early stage. After accumulating plenty of application users and developers, WaykiChain will gradually perfect its upper blockchain applications.
Currently, WaykiChain tech team is focusing on underlying public chain development. WaykiChain will provide friendly development environment to developers with sufficient development templates an interfaces. Besides, WaykiChain team plans to take a part of WICC as reward those developers who have made important contributions to the community. WaykiChain is committed to building an underlying technology platform that truly integrates blockchain application and real business. Along with its development, WaykiChain will gradually grow into a big ecosystem with totally decentralized operations, and brings the convenience of blockchain to every user.

Further Reading

White Paper
WaykiChain white paper is in update now, and will be available soon.
Huobi Project Center
https://www.huobi.br.com/projectcenteproject/?id=91&utm_source=Marketing&utm_medium=Referral&utm_campaign=WICC
Waykichain Developer-Friendly Community
http://www.waykichain.com/announcement.html?id=887

WaykiChain’s Technology

Consensus Mechanism
Delegated Proof of Stake (DPoS) is a consensus algorithm maintaining irrefutable agreement on the truth across the network, validating transactions and acting as a form of digital democracy. Delegated through token holders’ vote, ledgers nodes will package all the transactions in the block and get corresponding reward. DPOS can maximize token holders’ interests and network performance, meanwhile minimize the maintenance and operation costs.
WaykiChain adopts DPoS, which is the most adaptive consensus mechanism for developing and operating applications on chain. The block is successively generated by 11 ledger nodes. Every 10 seconds, a new block will be generated on WaykiChain. Verified by WaykiChain mainnet operation, the transaction confirmation speed can reach 1000+tps.
Vote Mechanism
WaykiChain adopts DPOS consensus mechanism with 11 ledger nodes. When a block is generated, a node is elected with the most votes according to random perturbation algorithm from the 11 nodes. Then ledger node gains all of the transaction fee in its ledger block. Users can get proportionate votes by locking their WICC. Every node can be cast for 11 candidates at most. Every voted user will be awarded proportionate interest. When users’ corresponding accounts’ votes changes, the interest from voting will be received automatically. The first year’s rate of interest is 5% and it will decrease 1% annually during the following years. Finally, the annual rate of interest will be fixed at 1% permanently.
Smart Contracts
WaykiChain is a smart contract platform that supports Turing devices. These smart contracts can help in a variety of real-world applications including copyright issues, decentralized exchanges and asset problems. It adopts DPOS consensus mechanism, sets up 11 voting nodes, and generates a new block every 10 seconds. According to detailed calculation by WaykiChain team, currently, the confirmed transaction speed can reach 1000+tps.
WaykiChain’s smart contract can be built using the programming language Lua. Lua was developed in the early 1990s and has an extensive developer community. It has been used in desktop development, web development and the Internet of Things. It also is one of the easiest programming languages and hence it provides an incentive for developers to code on WaykiChain’s platform.
Sidechain
The most popular smart contract cryptocurrency Ethereum, failed when Cryptokitties were released. Ethereum’s network was unable to handle the massive influx of users. Thus, scalability remains a huge problem. Fortunately, WaykiChain has a feature known as sidechains which can deal with huge amount of users. Applications built on WaykiChains will have their own sidechains and they are not linked in any way to each other.
WaykiChain Ecosystem Development System
WaykiChain ecosystem development system is driven and co-developed by three parties: WaykiChain core developers, open source community developers and business developers. In the decentralized system, WaykiChain team will provide technical standards and community contribution incentives to ensure that the entire ecosystem moves forward as a whole. On the basis of the underlying public chain, plug-ins, and smart contracts, business developers are able to develop applications efficiently and build their own brands with blockchain’s credit endorsement.
WaykiChain plans to establish Technology Research Academy to gather a group of outstanding developers with decentralized blockchain beliefs. WaykiChain will provide underlying technology support and standards. Developers in the academy can free communicate, learn from each other and co-develop a fully decentralized community.
Ecosystem Layered Architecture
WaykiChain technology stack consists of four layers: the core node layer, the wallet node layer, the application platform layer, and the DApp application layer. Any developer can choose which layer to start development based on their own development capability, business needs, and application flexibility needs. WaykiChain core technology team is committed to providing the develop-friendly interfaces of each layer and improving the technical documentation to help the community better build the ecosystem.

Further Reading

WaykiChain Github: https://github.com/WaykiChain/WaykiChain
How Does WaykiChain Work?
WaykiChain uses a DPoS consensus mechanism with eleven accounting nodes. The annual rate of return is 5% for the first year, with a 1% increase with every year that goes by. Each time a block is created, an accounting node is randomly associated. The accounting node gains all of the transaction fees in its accounting block. Users can earn interest by locking WaykiChain coins. The interest is automatically determined each time the votes for the corresponding user account change.
The terms of betting are triggered by the initiator through smart contract transactions. Users can initiate various betting contract transactions, all of which can be searched and identified in the block browsers. When the betting is over, the bet initiation will publish the final results and the gaining will be then shared accordingly. In short, the betting revenue is automatically issued to the user’s wallet after the betting results are displayed.
The smart contract provided by the platform makes it possible for asset initiations to create dividend sharing rules. These rules are only triggered by various conditions. Hence, the final price of the assets in circulation will be determined by the market’s behavior towards the object in the transaction.

WaykiChain Applications

Token System
Waykichain Token, WICC is a token only used and circulated in WaykiChain Wallet DApp. WICC itself does not have any FIAT characteristics. By consuming WICC as a kind of fuel, users can use applications on WaykiChain; by locking their WICC for a certain period of time, users can share the revenue from WICC Lock Revenue Sharing Plan; and by voting for effective and stable accounting nodes, users can earn related interest. WICC can be obtained by participating in the lock plan, by accounting, voting, and subscription, or by trading with other holders. This means WICC will be listed on lots of exchanges and traded with other cryptocurrencies, thus WICC also has trade value.
WaykiChain Block Explorer
WaykiChain official block explorer is a data display system for WaykiChian applications, which displays the WICC transfer and transaction records, account balances, prediction games transactions, and payout results according to application data on the blockchain. All data is open and transparent and inherently irreversible.
WICC Lock & Revenue Sharing Plan
In order to reward all community supporters and provide a channel for application operators to make retribution to community, WaykiChain launched WICC Lock & Revenue Sharing Plan. Application operators can provide a portion of the proceeds to the community members to encourage their contribution to the entire public chain, and to motivate the community to continuously improve the public chain as a more robust underlying system. Investors can lock their own WICC, as a way of showing long-term optimism about the project, to get a certain amount of revenue.
Investors can lock a certain number of mainnet WICC through the entrance in WaykiChain DApp. During the lock period, this part of WICC cannot be traded, transferred, or consumed as transaction fee. When the lock period expired, WICC will be automatically unlocked and become tradable. During the lock period, investors will receive WICC revenue at the end of each month. The amount of each investor’s WICC revenue is related to his/her WICC lock volume and duration, total WICC revenue generated during the period, and the total WICC lock volume and duration of all investors participating in the lock plan during this period. Specific calculating formula is as follows:
WICC Lock revenue Calculation Formula:
Each investor’s daily WICC revenue = Each investor’s lock index / The sum of each investor’s lock index * Total WICC revenue that day
Each investor’s lock index = Each investor’s WICC lock volume * Time index * Volume index
Time Index Table
Decentralized App
The first smart contract based application delivered by WaykiChain’s team is the WaykiChain decentralized betting application. In this application, the smart contract will assign a time duration in which the user can engage in the betting process. All the conditions related to betting will be given. When a bet is finished, the contract will release the results. The smart contract will then reward the winners.
This DApp was launched in May 2018, attracting over 130,000 users to download and bet and has been upgraded to V2.1 ever since. The latest product WaykiBet DApp V2.5 is planned to launch in November along with a new WaykiChain wallet.
WaykiBet V2.5 enables a new feature that everyone can be a bookmaker. With the authoritative event data and services provided by WaykiChain DApp, user even without any technical or product background can build a bet in simply one-click. And at the end of the game, WaykiBet will automatically call the smart contract to calculate the bet results and deliver payouts, without any manual participation.
Besides, WaykiBet V2.5 has exempted the betting fee through the structure optimization and allows the player to participate in the betting directly after creating a new wallet without activation to ensure users outside of the cryptocurrency industry can be involved in the easiest manner.
WaykiTimes Wallet
The new WaykiChain wallet, named as WaykiTimes will retain the original wallet functions, such as Lock Revenue Sharing and node voting. The newly added “Forum” gathers the community of WaykiChain and blockchain together, will become an ecology of open communication. Meanwhile it will has a “News” section to meet different users’ needs. In the future, WaykiTimes will implement WaykiChain token economy to encourage the community members.
Getting Setup
Download WaykiBet DApp V.2.5 at official website: https://www.waykichain.com/

Meet the Team

WaykiChain team is comprised out of over 60 individuals with relevant experience in marketing, business, betting, lottery, betting and crypto industries.
Wayki Sun, Founder & CSO
One of the earliest digital currency investors and entrepreneurs in China. The founder of Xinhuo Network, the founder of Ou Lu Zhong Chou and the Managing Director of Jufeng Digital Asset Management Co., Ltd. Sun led an investment team of hundreds of people with great achievements made in stock, foreign exchange, futures and digital currency markets.
Gordon Gao, CEO
Gordon Gao, an alumni of Columbia University, ex-Lead Data Scientist of Fishbowl in Wall Street, ex-Senior Data Analyst of Alibaba Group, senior member of Mensa International Club. He is responsible for offering support to WaykiChain’s commercial model designing and strategy planning, building up a digitalized monitor system for products and operation and promoting WaykiChain overseas with his international background.
Tony Chau, Co-founder & CBO
Bachelor’s Degree in Finance from the University of Toronto in Canada and served in Hongshang Asset Management Co., Ltd. Focused on industrial surveys and commercial analysis, with in-depth research and distinctive perception on business operation models, and professional financial knowledge and complete project experience.
Tame Huang, Chief Consultant
The founder of BTC38, served as Product Manager and Project Manager of Tencent, Vice President of Fantasy Basketball, and Chief Strategy Officer of Licai Box; Huang was involved in the investment on more than ten high-tech enterprises, such as Jidian Technology, Yixiang Network, Maoming Rural and Commercial Bank, Jujin Technology, Cointime, etc., and established the Bitcoin Time Digital Currency Exchange in May 2013.
Xi Zhang, CPO
Tsinghua MBA, former Senior Product Manager of Tencent. Xi Zhang has been engaged in Internet industry for 14 years with several entrepreneurial experiences. In 2008, he joined aibo123.com as Product Director, responsible for the product design and operation of Olympics lottery. In 2014, he stared his own business and founded QiuShang APP, the first prediction APP in China applying big data prediction with 8% return rate and 67% win rate. In 2016, as a partner, he joined the Haiqiu Technology founded by famous football player Sun Jihai, responsible for the Miaohai business unit. He was fully responsible for the products, technology, operations, and marketing of Miaohai sports short video APP. The total downloads of Miaohai APP were 6 million and daily active users were 1 million.
Richard Chen, CTO
Master of Computer Science from the National University of Singapore and Bachelor of Communication Engineering from Shanghai Jiao Tong University. Richard worked for Alibaba and was responsible for the internal and external information security system construction of the entire groups Customer Service Department. Prior to this, Richard also served as Senior Vice President for the worlds top investment bank Morgan Stanley for 3 years and Intel Chief Architect for 8 years. Richard has received four US patents and won Intel Achievement Award (IAA). Richard has published several global patents in encryption technology, distributed network communication and collaboration, and big data.
Xiang Li, CMO
MBA degree from Tsinghua University, former COO of Brightoil Online under Brightoil Petroleum (Holdings) Limited, senior manager of Dacheng Food (Asia) Limited, has over a decade of experience in marketing and brand building. Ms. Li is an expert in building brand strategy, brand positioning, advertising channels, event marketing, crisis management, etc. Now Ms. Li is the marketing director of WaykiChain, responsible for the brand operation of WaykiChain in the global market and marketing cooperation.
Getting Connected:
  1. Website: https://www.waykichain.com/aboutUs.html
  2. Telegram: https://t.me/wiccofficial

FAQ:

What is WICC? How to Buy WICC?
WICC is the token launched by WaykiChain. In order to buy WaykiChain (WICC), we recommend you to buy some BTC or ETH (the highest volume trading pairs) from an exchange that accepts them. Then, you will have to find a marketplace that sells WICC in exchange for the aforementioned cryptocurrencies. We recommend you to buy WICC at AEX or Huobi Exchange (AEX has already supported WICC mainnet migration, Huobi will support the migration in November, 2018). For more information on this matter, you can visit CoinMarketCap.
When it comes to storing your WICC coins, it’s recommended that you use the official WaykiChain wallet. By consuming the tokens, you can also use various applications on WaykiChain.
What is the use of WICC?
WICC is a token used and circulated in WaykiChain Wallet DApp. WICC itself does not have any FIAT characteristics. By consuming WICC as a kind of fuel, users can use applications on WaykiChain; by locking their WICC for a certain period of time, users can share the revenue from WICC lock plan; and by voting for effective and stable accounting nodes, users can earn related interest. WICC can be obtained by participating in the lock plan, by accounting, voting, and subscription, or by trading with other holders. WICC has been listed on over 100 exchanges and trading with other cryptocurrencies for almost 1 year, thus WICC also has trade value.
What are WaykiChain’s advantages as a public chain 3.0?
There are three different types of blockchain: public chain, consortium chain, and private chain. Public chain refers to the consensual blockchain that any individual or team can read and send transactions to, and obtain valid confirmation. Public chain, also known as the non-license chain, is totally open to the whole network that any node can access or leave at any time without any permission. As a public chain of blockchain 3.0, WaykiChain has the advantages of high speed, high stability and flexibility, and low handling fee, providing rich development tools and perfect development environment for worldwide developers. Adopting DPoS consensus mechanism, sidechain technology and other technologies, WaykiChain can process 1000+ transaction requests per second. Relying on its strong strength of underlying technology and innovation, WaykiChain can effectively support high-traffic application scenarios and realize the landing of WaykiChain ecological applications.
What is WaykiChain decentralized betting application?
WaykiChain decentralized betting application is the first smart contract application launched by WaykiChain team. Each betting is triggered by the application developer via a smart contract. During the period specified in the contract, the users can initiate betting transaction, and all betting records can be traced on the blockchain browser and can never be tampered with. The smart contract will automatically reward the winners based on the final result. WaykiChain will use smart contract to automatically execute the game rule on its public chain. Instead of relying on trust between people, WaykiChain betting application adopts trust among machines to save credit costs, and guarantees full compliance with the rules setting. Besides WaykiChain Official, the developers of the decentralized applications can be any other third-parties. WaykiChain welcomes all developers to join.
What is WaykiChain Address?
WaykiChain address is a 34-bit string consisting of English letters and numbers that may look like digital gibberish. My WaykiChain address WXv6xP8yVW4PkZ3DPvxqfBtfz7Bof1RJHm, as an example, looks like this. All transfer records for each WaykiChain address can be found through the blockchain explorer. The address is a personal WaykiChain account like your bank account number. Anyone can transfer WICC to you via your WaykiChain address. How do I get my own WaykiChain address then? You can download a WaykiChain Wallet on WaykiChain official website, or register one on trading platforms. Each user’s WaykiChain address is unique. It should be noted that each WaykiChain wallet can only create one address, therefore the wallet mnemonics must be kept carefully.
What consensus mechanism does WaykiChain adopt?
WaykiChain adopts DPOS consensus mechanism, a new algorithm to guarantee the security of cryptocurrency network. DPOS consensus mechanism can offset the negative effects of centralization through implementing technology-based democracy, and maximize the effectiveness of the public chain through nodes accounting. DPOS can be understood as giving the token holders a key to open the voting rights corresponding to their tokens, instead of giving them a shovel to mine. DPOS can maximize the profitability of the token holders, minimize the cost of network security, maximize the efficiency of network, and minimize the cost of network operation. WaykiChain has 11 accounting nodes in total. The nodes are generated by the token holders’voting. If nodes are making trouble or cannot account normally, the token holders can change their votes, so that there will be other nodes to replace to ensure that the public chain can be operating normally.
What is WaykiChain mainnet migration?
WaykiChain (WICC) mainnet migration is the process of replacing the previous Ethereum-based token ERC20 TOKEN with WaykiChain mainnet token. WaykiChain public chain, through several months of testing and rigorous evaluation from the exchange platforms after its release, has been fully proven to operate efficiently and stably. Mainnet migration marks that WaykiChain public chain is actually putting into use. After the mainnet migration, various applications and developments based on WaykiChain can be launched, and the service period of WaykiChain public chain truly starts. The dividend mechanism, voting mechanism, gas consumption, and accounting fees on WaykiChain ecosystem are all completed by the mainnet token. The previous ERC20 tokens do not have these functions. By the end of June 26th, AEX Exchange, CEO Exchange, and Bying Wallet have supported WICC mainnet migration. There will be more exchanges and wallets supporting the migration in the future. Please follow WaykiChain’s Wechat official account for more details.
Are there any requirements or restrictions for developing projects on WaykiChain?
WaykiChain’s code is completely open. WaykiChain welcomes third parties worldwide to develop, carry and operate various application products on WaykiChain, and finally form a diversiform public chain community ecology. WaykiChain is happy to provide public chain technology support for any individuals or third parties. Applications developed and operated by third parties, based on WaykiChain public chain, need to comply with local laws and policies. Only after obtaining related licenses, permits or qualifications required by local laws and policies, developers and operators can launch and operate their applications on WaykiChain. Because of blockchain public chain’s globality, anonymity, open code, and the limitation of our ability, WaykiChain Official cannot judge the identity of third parties, nor have the ability and right to verify, supervise, control or interfere the third parties. Therefore, third parties should bear responsibility of their own actions.
What is WaykiChain Block Explorer?
WaykiChain Block Explorer is a system that displays all transaction information on WaykiChain and provides visualized track services. Technically, a block explorer works by scanning the block into the database server and then setting up a Web access service. Users only need to import the transaction hash to check whether the transaction has been packaged and confirmed. From the point of product, block explorer is more suitable to be called as asset explorer, which provides asset certification for users so that they don’t have to visually identify or manually analyze the transactions themselves. The block explorer also provides statistics of blocks and transactions, helping users to directly understand the activity of the blockchain. The statistics can also be translated into various indexes for investors to understand the project. To track the transactions, users can search relevant information on WaykiChain official website through WaykiChain wallet address, transaction hash or block height.

Further Reading

https://www.waykichain.com/question.html

Wish List for WaykiChain

Just thinking it would be great to create a post for everyone to post what they want to have for future releases of the Waykichain DApp or anything related to using Waykichain.
Welcome feedback from the community, so please do get in touch. Want to dive in further? Follow WaykiChain on Telegram, Twitter, Medium and LinkedIn.
submitted by Waykichain to WaykiChain_WICC [link] [comments]

COMPREHENSIVE Forex Trading SOLUTION/ANSWER; FEEDBACK NEEDED

The following is a comprehensive response outlining a viable, reasonable, scalable, and sustainable solution for achieving financial independence/prosperity. Please let me know what you think as I would appreciate your feedback.
Trade the financial markets, specifically Forex trading. It's a fkin trillion dollar industry! There are a plethora of businesses online that sell software to meet the trading/investment needs of various demanding clients.
Just look up online EAs (Expert Advisor, which is automated/algorithmic trading, for Meta Trader 4), verify results using the myfxbook website (i.e. a reputable independent third-party website that certifies and tracks the record/performance of various trading strategies/systems, including commercial EAs), purchase the EA, verify results again by running/performing both a backtest and a forward test (i.e. paper trading on a demo account), and then, and only then can/should you use the EA with real money trading on a live/real account.
You can verify the EA's reliability by performing a backtest for a "significant" time period (for example 5-10 years; or depending on the "frequency" of trades placed from the EA) coupled with 2-3 months of forward testing (i.e. paper trading on a demo account) and if the results are "consistently" profitable (i.e. "overall consistent" "monthly" profits from both backtesting and forward testing) with drawdowns being not "too much/high/extreme" AND not "too frequent", then you can go live and trade using real money.
It's okay to expect a particular trading strategy/system to expire (i.e. lose its edge, or for profits to weaken/deteriorate/diminish). When that time comes, simply go onto the next “hot/trendy” EA or if you were fortunate enough to accumulate significant profits, you can store those profits in an interest-savings account and receive periodic income that way.
The purpose of backtesting and forward testing is to ensure drawdowns are not "too much/high/extreme" AND not "too frequent", AND that there is proper risk management "embedded within the EA", thus minimizing/avoiding the risk of "extreme" drawdown or "extreme" losses when using real money.
Note: The switch to "another" hot/trendy EA should be made when the profits earned from the "current" EA have reached a point/level where it no longer appeals to the individual's interest/preference. However, if there is an "unusual/unexpected/unanticipated" "significant" drawdown (according to the performed backtest and forward test), then that would unfortunately represent an actual/real risk/loss incurred by the individual (and would still require a switch to another hot/trendy EA). This risk can be "mitigated/minimized" by performing a backtest "AND" a forward test (both for a "significant" time period, i.e. depending on the "frequency" of trades placed from the EA), AND by conducting a proper psychological evaluation of the EA seller (as an "individual" entity), i.e. evaluating their reliability, logic, and confidence when it comes to addressing/answering relevant/crucial questions pertaining to Forex/Finance/Trading/Investing (rather than asking for or needing specific details regarding their intellectual property or proprietary strategy/system/software, i.e. their source code or trading methodology).
Ultimately, it comes down to “risk tolerance” while taking into account the results obtained from backtesting and forward testing, as well as the level of confidence and trust you impart/place on the person/group selling/distributing the EA.
Note: refer to the Investopedia website for definitions on the following terminology/vocabulary: backtesting, forward testing (i.e. paper trading on a demo account), drawdown (DD), maximum drawdown (MDD or MaxDD), and monthly/annual ROI (return on investment, as a percentage).
Also, note: "focus" on testing for maximum drawdown (MDD or MaxDD) (making sure drawdowns are not "too much/high/extreme" AND not "too frequent"; for example, not greater than 30%-50%, depending on your risk tolerance or preference) and looking for a "track-record" of "overall consistent" "monthly" profits from both backtesting and forward testing, i.e. paper trading on a demo account (both for a "significant" time period, depending on the "frequency" of trades placed from the EA). This "track-record" can be "verified" either through the "myfxbook" website or through the combined use of backtesting and forward testing.
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Each and every year, students graduate from college and university. How is it "economically feasible" to provide jobs for all or most of these people? My understanding is that people need to display a good understanding of the psychology of first impression, which includes genuine/authentic personality, trustworthiness, and competency (reflected in education); in other words, honest, reliable, and competent in relevant matters, or integrity, energy, and intelligence.
Problem: The individual's attainment of their “desired dream/career job", which is their ultimate purpose for pursuing "rigorous" higher education (i.e. college or university) or "rigorous" professional education (i.e. apprenticeship or trades).
I believe that a lot of people attend college and university with the hope that they will obtain a job after they graduate, a job that will support them financially. If money is the primary reason for their pursuing higheprofessional education, shouldn't they be "informed" (as part of a global/collective civic/social responsibility) that there are alternative ways of making money (personally, namely, trading the financial markets), ones that will actually lead them to, or at least have a higher probability of leading them to, financial independence/prosperity, since the chances of them achieving such goal upon graduation from college/university is realistically slim – if not the problem of difficulty finding employment related to their “desired careedream job”, then the problem of a dead-end mediocre job with a “fixed” “small” salary?
Should we, as a society, steer people away from college/university, often temporarily, since, let's be honest, our society is currently producing "a lot" of "mediocre" individuals with no real chance of obtaining a job that they were initially in pursuit of? Can we, as a society, do a better job of "realizing" and "maximizing" the talents/skills of these "mediocre" individuals, i.e. individuals who have no real chance of obtaining a job which they had been (or currently are) pursuing/studying rigorously for?
After going through a proper evaluation of current circumstances and current options, I've realized that people need to get certain things in their life straight "before" working on pursuing higheprofessional education – i.e. Health > Wealth > Education/”Prestige”.
The mass of people who pursue college and university because their program is in high demand are ones that are studying the program not for its unique intricacies, but rather only for graduation with the expectation that they "deserve" to be rewarded a job. As opposed to, respect and appreciation to the language their subject takes on (whether that be Accounting language or Computer Programming language, etc.). Respect and appreciation for a subject or field is displayed when the person engages with the subject or field with a “critical thinking” mindset, with the main purpose/goal of analyzing and critiquing thoroughly the accuracy of any statement presented to them that is related to their chosen subject or field, i.e. effectively utilizing journaling and documentation (see relevant section below, point #1 of 2 under “ESSENTIAL/CRUCIAL” for more details); this main purpose/goal is often rooted from a genuine desire/interest/passion for pursuing/studying their chosen subject or field.
The simple fact remains that it is simply not economically feasible to provide jobs to meet the constant influx of supply being produced by colleges and universities, "each" and "every" year. As a result, why are people making the foolish decision to incur immense amount of “DEBT” (keyword) while pursuing higheprofessional education when the economic reality simply does not provide enough jobs for society, i.e. jobs that are specifically expected of from college and university graduates?
Quoted from someone else: "Our societies have for so long told us that education can and should equate to professional success, which should equate to economic success, yet we are entering a period where that simply can't occur. The foundation that those notions were created upon doesn't exist any longer, given how we have evolved and grown as a species, and we have yet to make the transition to a new set of notions."
~~~~~~~~~~~~~~~~~~~~
Some ESSENTIAL/CRUCIAL characteristics of an individual who exhibits genuine desire/interest/passion for pursuing/studying their chosen subject/field (especially at the higher education or professional education level) are as follows:
1) Effective "Information Management" strategy (utilizing journaling and documentation). The individual had made it a priority to create and compile personal notes or online documents for the purpose of future-reference and documentation – for potential revision, self-reflection, self-correction, or discovery, as this is crucial for knowledge retrieval, knowledge retention, as well as knowledge synthesis and creating/generating new knowledge. Note: information becomes knowledge when you regard the information as valuable and when you make the conscious decision to keep it as part of your notes with the expectation/option of using it in the future; knowledge is information in action, so actually using the information, instead of dismissing it as irrelevant.
Response from another individual/writer:
  • I don't mean that all information has to be kept as notes, nor that other strategies/tactics of finding/retrieving information aren't valuable. I don't even mean that it's impossible for someone to exist/operate without ever taking any notes. Most saliently, I'm more saying that to categorically omit note-taking from one's information management capabilities/strategy is to invite unnecessary trouble, likely to the point of dysfunction, unless one happens to never be doing anything that involves any significantly elusive information to begin with.
  • My bias toward this assessment is reinforced by 25+ years of highly-technical work that has resulted in literally thousands (or tens-of-thousands) of pieces of information, extremely valuable to me, that can't be readily found anywhere but in my notes.
  • Some of it is information specifically originating with myself – there's no one or nowhere else from which it can be gotten. Some of it is information that took me immense amounts of time, thought, and effort to find/acquire, and I would never want to have to try to find it again. Most of these things are in my notes because they have either already disappeared, or are likely to disappear, off of the internet, or don't lend themselves well to simple bookmark-able reference.
  • Another way of saying this is that personally-kept notes are a reflection of the time/effort/insight one has had to put into acquiring the information, combined with the value of retrieval efficiency (organized for one's own retrieval needs). To subject yourself to relying on reproduction of that time/effort and self-organization is to either admit that the time/effort isn't significant (i.e. the information is rather trivial or ubiquitous in nature), or that your own time/effort spent isn't worth much (if you're willing to repeat it).
  • Also, if one assumes that the information is always going to be right where you can easily find it, or even right where you found it before, that's actually just naive.
  • While its true you still need to expend time/effort into locating the info, it has been organized specifically how YOU determine it should be, and thus truncates any actual "overhead" involved in the typical "location" process, not to mention the guarantee that it's actually there to find. Note: overhead expense refers to an ongoing expense of operating a business; it is also known as an "operating expense".
  • As a simple/clear example: if you've never spent hours sifting through the deluge from the Google sewer pipe flooding into your browser, just to find anything remotely relevant to the fairly elusive technical scenario you're trying to resolve, then you're probably not acquainted with really anything I'm talking about, and your dismissal would then represent simply being unaware.
2) The individual is ASSERTIVE and NOT PASSIVE towards the subject they are studying. They are WILLING to articulate and share important ideas and concepts from the subject they are studying. The individual is not seen as someone who is under the spell/act (i.e. false and disingenuous impression of superior intelligence) of mindless regurgitation but rather, the individual is able to offer their OWN UNIQUE interpretation on the subject they are studying, while also citing important concepts or ideas where citation is necessary. In other words, the individual demonstrates "individual competency" THROUGH the subject they are studying and are ultimately/inherently passionate about. The individual's competency (i.e. his/her opinion or interpretation of what is relevant or accurate information) is demonstrated through the individual's pattern of logical and coherent thinking, as well as through the individual's writing style (which displays "CONFIDENCE" in what the individual is presenting as relevant or accurate information).
~~~~~~~~~~~~~~~~~~~~
Relevant response from another individual:
Decide where you fall on the self-directed spectrum.
Highly self-directed: technical books and MOOCs (Massive Open Online Courses)
Average: an online community + curriculum like Free Code Camp or theodinproject.com
Not very self-directed: An in-person coding boot camp like Hack Reactor or App Academy; similar to “subpamediocre” college/university “classroom” learning.
~~~~~~~~~~~~~~~~~~~~
There are only so many ways of acquiring wealth (with only some methods actually leading to long-term/sustainable financial independence/prosperity):
1) Real Estate
2) Owning a business; being an entrepreneur
3) Career Job requiring higher education (i.e. college or university) or professional education (i.e. apprenticeship or trades)
4) Minimum Wage Jobs
5) Trading the financial markets; making financial “investments” (stocks, forex, futures, options, equities, commodities, etc.)
~~~~~~~~~~~~~~~~~~~~
Pseudo-Intellectual versus Intellectual (the following is a response from another individual/writer):
An intellectual follows the values and attitudes of Critical Thinking, and exercises good thinking habits. Their interest lies in discovery and self-correction.
The traits of a true intellectual are as follows:
  • intellectual humility – recognizing the limits and sensitivities of one's experience.
  • intellectual courage – ability to examine things and/or state results or potentialities, even if it may be costly/risky to your personal beliefs, or social acceptance, established norms or theories. The ability to put things at risk. Even if they are your own cherished ideas or beliefs that you are putting at risk.
  • intellectual empathy – knowing that you have to imaginatively put yourself in the place of others in order to understand them.
  • intellectual autonomy – being able to think independently, to carry through without constant guidance from others, and sometimes even to come to different conclusions.
  • intellectual integrity – holding yourself to the same standards you hold others, and holding all beliefs to the same standards.
  • intellectual honesty – being willing to admit discrepancies and avoid overlooking exceptions, even to oneself.
  • intellectual perseverance – having the patience to struggle through difficult or complex problems.
  • confidence in reason – willingness to follow the logic where-ever it leads.
  • fair-mindedness – avoiding making unjustified special exceptions or privileges. Holding all viewpoints to the same standards. This does not mean that all views are equal; it means they all are held to the same universal standards. They might end up meeting those standards very unequally. For instance: the theory of evolution vs the fable of creation, or climate change vs science denialism.
A pseudo-intellectual does not do these things. Their interest lies not in discovery and self-correction, but in confirmation of what is already believed. Confirmation Bias. Their "thinking" style is characterized by cognitive biases, a lack of self-reflection/self-correction, a lack of rigor and completeness, and applying woefully different standards to beliefs/ideas that they cherish, and any information that calls them into question.
~~~~~~~~~~~~~~~~~~~~
submitted by gentlestream to Forex [link] [comments]

Feedback Needed

The following is a comprehensive response outlining a viable, reasonable, scalable, and sustainable solution for achieving financial independence/prosperity. Please let me know what you think as I would appreciate your feedback.
Trade the financial markets, specifically Forex trading. It's a fkin trillion dollar industry! There are a plethora of businesses online that sell software to meet the trading/investment needs of various demanding clients.
Just look up online EAs (Expert Advisor, which is automated/algorithmic trading, for Meta Trader 4), verify results using the myfxbook website (i.e. a reputable independent third-party website that certifies and tracks the record/performance of various trading strategies/systems, including commercial EAs), purchase the EA, verify results again by running/performing both a backtest and a forward test (i.e. paper trading on a demo account), and then, and only then can/should you use the EA with real money trading on a live/real account.
You can verify the EA's reliability by performing a backtest for a "significant" time period (for example 5-10 years; or depending on the "frequency" of trades placed from the EA) coupled with 2-3 months of forward testing (i.e. paper trading on a demo account) and if the results are "consistently" profitable (i.e. "overall consistent" "monthly" profits from both backtesting and forward testing) with drawdowns being not "too much/high/extreme" AND not "too frequent", then you can go live and trade using real money.
It's okay to expect a particular trading strategy/system to expire (i.e. lose its edge, or for profits to weaken/deteriorate/diminish). When that time comes, simply go onto the next “hot/trendy” EA or if you were fortunate enough to accumulate significant profits, you can store those profits in an interest-savings account and receive periodic income that way.
The purpose of backtesting and forward testing is to ensure drawdowns are not "too much/high/extreme" AND not "too frequent", AND that there is proper risk management "embedded within the EA", thus minimizing/avoiding the risk of "extreme" drawdown or "extreme" losses when using real money.
Note: The switch to "another" hot/trendy EA should be made when the profits earned from the "current" EA have reached a point/level where it no longer appeals to the individual's interest/preference. However, if there is an "unusual/unexpected/unanticipated" "significant" drawdown (according to the performed backtest and forward test), then that would unfortunately represent an actual/real risk/loss incurred by the individual (and would still require a switch to another hot/trendy EA). This risk can be "mitigated/minimized" by performing a backtest "AND" a forward test (both for a "significant" time period, i.e. depending on the "frequency" of trades placed from the EA), AND by conducting a proper psychological evaluation of the EA seller (as an "individual" entity), i.e. evaluating their reliability, logic, and confidence when it comes to addressing/answering relevant/crucial questions pertaining to Forex/Finance/Trading/Investing (rather than asking for or needing specific details regarding their intellectual property or proprietary strategy/system/software, i.e. their source code or trading methodology).
Ultimately, it comes down to “risk tolerance” while taking into account the results obtained from backtesting and forward testing, as well as the level of confidence and trust you impart/place on the person/group selling/distributing the EA.
Note: refer to the Investopedia website for definitions on the following terminology/vocabulary: backtesting, forward testing (i.e. paper trading on a demo account), drawdown (DD), maximum drawdown (MDD or MaxDD), and monthly/annual ROI (return on investment, as a percentage).
Also, note: "focus" on testing for maximum drawdown (MDD or MaxDD) (making sure drawdowns are not "too much/high/extreme" AND not "too frequent"; for example, not greater than 30%-50%, depending on your risk tolerance or preference) and looking for a "track-record" of "overall consistent" "monthly" profits from both backtesting and forward testing, i.e. paper trading on a demo account (both for a "significant" time period, depending on the "frequency" of trades placed from the EA). This "track-record" can be "verified" either through the "myfxbook" website or through the combined use of backtesting and forward testing.
~~~~~~~~~~~~~~~~~~~~
~~~~~~~~~~~~~~~~~~~~
Each and every year, students graduate from college and university. How is it "economically feasible" to provide jobs for all or most of these people? My understanding is that people need to display a good understanding of the psychology of first impression, which includes genuine/authentic personality, trustworthiness, and competency (reflected in education); in other words, honest, reliable, and competent in relevant matters, or integrity, energy, and intelligence.
Problem: The individual's attainment of their “desired dream/career job", which is their ultimate purpose for pursuing "rigorous" higher education (i.e. college or university) or "rigorous" professional education (i.e. apprenticeship or trades).
I believe that a lot of people attend college and university with the hope that they will obtain a job after they graduate, a job that will support them financially. If money is the primary reason for their pursuing higheprofessional education, shouldn't they be "informed" (as part of a global/collective civic/social responsibility) that there are alternative ways of making money (personally, namely, trading the financial markets), ones that will actually lead them to, or at least have a higher probability of leading them to, financial independence/prosperity, since the chances of them achieving such goal upon graduation from college/university is realistically slim – if not the problem of difficulty finding employment related to their “desired careedream job”, then the problem of a dead-end mediocre job with a “fixed” “small” salary?
Should we, as a society, steer people away from college/university, often temporarily, since, let's be honest, our society is currently producing "a lot" of "mediocre" individuals with no real chance of obtaining a job that they were initially in pursuit of? Can we, as a society, do a better job of "realizing" and "maximizing" the talents/skills of these "mediocre" individuals, i.e. individuals who have no real chance of obtaining a job which they had been (or currently are) pursuing/studying rigorously for?
After going through a proper evaluation of current circumstances and current options, I've realized that people need to get certain things in their life straight "before" working on pursuing higheprofessional education – i.e. Health > Wealth > Education/”Prestige”.
The mass of people who pursue college and university because their program is in high demand are ones that are studying the program not for its unique intricacies, but rather only for graduation with the expectation that they "deserve" to be rewarded a job. As opposed to, respect and appreciation to the language their subject takes on (whether that be Accounting language or Computer Programming language, etc.). Respect and appreciation for a subject or field is displayed when the person engages with the subject or field with a “critical thinking” mindset, with the main purpose/goal of analyzing and critiquing thoroughly the accuracy of any statement presented to them that is related to their chosen subject or field, i.e. effectively utilizing journaling and documentation (see relevant section below, point #1 of 2 under “ESSENTIAL/CRUCIAL” for more details); this main purpose/goal is often rooted from a genuine desire/interest/passion for pursuing/studying their chosen subject or field.
The simple fact remains that it is simply not economically feasible to provide jobs to meet the constant influx of supply being produced by colleges and universities, "each" and "every" year. As a result, why are people making the foolish decision to incur immense amount of “DEBT” (keyword) while pursuing higheprofessional education when the economic reality simply does not provide enough jobs for society, i.e. jobs that are specifically expected of from college and university graduates?
Quoted from someone else: "Our societies have for so long told us that education can and should equate to professional success, which should equate to economic success, yet we are entering a period where that simply can't occur. The foundation that those notions were created upon doesn't exist any longer, given how we have evolved and grown as a species, and we have yet to make the transition to a new set of notions."
~~~~~~~~~~~~~~~~~~~~
Some ESSENTIAL/CRUCIAL characteristics of an individual who exhibits genuine desire/interest/passion for pursuing/studying their chosen subject/field (especially at the higher education or professional education level) are as follows:
1) Effective "Information Management" strategy (utilizing journaling and documentation). The individual had made it a priority to create and compile personal notes or online documents for the purpose of future-reference and documentation – for potential revision, self-reflection, self-correction, or discovery, as this is crucial for knowledge retrieval, knowledge retention, as well as knowledge synthesis and creating/generating new knowledge. Note: information becomes knowledge when you regard the information as valuable and when you make the conscious decision to keep it as part of your notes with the expectation/option of using it in the future; knowledge is information in action, so actually using the information, instead of dismissing it as irrelevant.
Response from another individual/writer:
  • I don't mean that all information has to be kept as notes, nor that other strategies/tactics of finding/retrieving information aren't valuable. I don't even mean that it's impossible for someone to exist/operate without ever taking any notes. Most saliently, I'm more saying that to categorically omit note-taking from one's information management capabilities/strategy is to invite unnecessary trouble, likely to the point of dysfunction, unless one happens to never be doing anything that involves any significantly elusive information to begin with.
  • My bias toward this assessment is reinforced by 25+ years of highly-technical work that has resulted in literally thousands (or tens-of-thousands) of pieces of information, extremely valuable to me, that can't be readily found anywhere but in my notes.
  • Some of it is information specifically originating with myself – there's no one or nowhere else from which it can be gotten. Some of it is information that took me immense amounts of time, thought, and effort to find/acquire, and I would never want to have to try to find it again. Most of these things are in my notes because they have either already disappeared, or are likely to disappear, off of the internet, or don't lend themselves well to simple bookmark-able reference.
  • Another way of saying this is that personally-kept notes are a reflection of the time/effort/insight one has had to put into acquiring the information, combined with the value of retrieval efficiency (organized for one's own retrieval needs). To subject yourself to relying on reproduction of that time/effort and self-organization is to either admit that the time/effort isn't significant (i.e. the information is rather trivial or ubiquitous in nature), or that your own time/effort spent isn't worth much (if you're willing to repeat it).
  • Also, if one assumes that the information is always going to be right where you can easily find it, or even right where you found it before, that's actually just naive.
  • While its true you still need to expend time/effort into locating the info, it has been organized specifically how YOU determine it should be, and thus truncates any actual "overhead" involved in the typical "location" process, not to mention the guarantee that it's actually there to find. Note: overhead expense refers to an ongoing expense of operating a business; it is also known as an "operating expense".
  • As a simple/clear example: if you've never spent hours sifting through the deluge from the Google sewer pipe flooding into your browser, just to find anything remotely relevant to the fairly elusive technical scenario you're trying to resolve, then you're probably not acquainted with really anything I'm talking about, and your dismissal would then represent simply being unaware.
2) The individual is ASSERTIVE and NOT PASSIVE towards the subject they are studying. They are WILLING to articulate and share important ideas and concepts from the subject they are studying. The individual is not seen as someone who is under the spell/act (i.e. false and disingenuous impression of superior intelligence) of mindless regurgitation but rather, the individual is able to offer their OWN UNIQUE interpretation on the subject they are studying, while also citing important concepts or ideas where citation is necessary. In other words, the individual demonstrates "individual competency" THROUGH the subject they are studying and are ultimately/inherently passionate about. The individual's competency (i.e. his/her opinion or interpretation of what is relevant or accurate information) is demonstrated through the individual's pattern of logical and coherent thinking, as well as through the individual's writing style (which displays "CONFIDENCE" in what the individual is presenting as relevant or accurate information).
~~~~~~~~~~~~~~~~~~~~
Relevant response from another individual:
Decide where you fall on the self-directed spectrum.
Highly self-directed: technical books and MOOCs (Massive Open Online Courses)
Average: an online community + curriculum like Free Code Camp or theodinproject.com
Not very self-directed: An in-person coding boot camp like Hack Reactor or App Academy; similar to “subpamediocre” college/university “classroom” learning.
~~~~~~~~~~~~~~~~~~~~
There are only so many ways of acquiring wealth (with only some methods actually leading to long-term/sustainable financial independence/prosperity):
1) Real Estate
2) Owning a business; being an entrepreneur
3) Career Job requiring higher education (i.e. college or university) or professional education (i.e. apprenticeship or trades)
4) Minimum Wage Jobs
5) Trading the financial markets; making financial “investments” (stocks, forex, futures, options, equities, commodities, etc.)
~~~~~~~~~~~~~~~~~~~~
Pseudo-Intellectual versus Intellectual (the following is a response from another individual/writer):
An intellectual follows the values and attitudes of Critical Thinking, and exercises good thinking habits. Their interest lies in discovery and self-correction.
The traits of a true intellectual are as follows:
  • intellectual humility – recognizing the limits and sensitivities of one's experience.
  • intellectual courage – ability to examine things and/or state results or potentialities, even if it may be costly/risky to your personal beliefs, or social acceptance, established norms or theories. The ability to put things at risk. Even if they are your own cherished ideas or beliefs that you are putting at risk.
  • intellectual empathy – knowing that you have to imaginatively put yourself in the place of others in order to understand them.
  • intellectual autonomy – being able to think independently, to carry through without constant guidance from others, and sometimes even to come to different conclusions.
  • intellectual integrity – holding yourself to the same standards you hold others, and holding all beliefs to the same standards.
  • intellectual honesty – being willing to admit discrepancies and avoid overlooking exceptions, even to oneself.
  • intellectual perseverance – having the patience to struggle through difficult or complex problems.
  • confidence in reason – willingness to follow the logic where-ever it leads.
  • fair-mindedness – avoiding making unjustified special exceptions or privileges. Holding all viewpoints to the same standards. This does not mean that all views are equal; it means they all are held to the same universal standards. They might end up meeting those standards very unequally. For instance: the theory of evolution vs the fable of creation, or climate change vs science denialism.
A pseudo-intellectual does not do these things. Their interest lies not in discovery and self-correction, but in confirmation of what is already believed. Confirmation Bias. Their "thinking" style is characterized by cognitive biases, a lack of self-reflection/self-correction, a lack of rigor and completeness, and applying woefully different standards to beliefs/ideas that they cherish, and any information that calls them into question.
~~~~~~~~~~~~~~~~~~~~
submitted by gentlestream to algotrading [link] [comments]

Feedback Needed

The following is a comprehensive response outlining a viable, reasonable, scalable, and sustainable solution for achieving financial independence/prosperity. Please let me know what you think as I would appreciate your feedback.
Trade the financial markets, specifically Forex trading. It's a fkin trillion dollar industry! There are a plethora of businesses online that sell software to meet the trading/investment needs of various demanding clients.
Just look up online EAs (Expert Advisor, which is automated/algorithmic trading, for Meta Trader 4), verify results using the myfxbook website (i.e. a reputable independent third-party website that certifies and tracks the record/performance of various trading strategies/systems, including commercial EAs), purchase the EA, verify results again by running/performing both a backtest and a forward test (i.e. paper trading on a demo account), and then, and only then can/should you use the EA with real money trading on a live/real account.
You can verify the EA's reliability by performing a backtest for a "significant" time period (for example 5-10 years; or depending on the "frequency" of trades placed from the EA) coupled with 2-3 months of forward testing (i.e. paper trading on a demo account) and if the results are "consistently" profitable (i.e. "overall consistent" "monthly" profits from both backtesting and forward testing) with drawdowns being not "too much/high/extreme" AND not "too frequent", then you can go live and trade using real money.
It's okay to expect a particular trading strategy/system to expire (i.e. lose its edge, or for profits to weaken/deteriorate/diminish). When that time comes, simply go onto the next “hot/trendy” EA or if you were fortunate enough to accumulate significant profits, you can store those profits in an interest-savings account and receive periodic income that way.
The purpose of backtesting and forward testing is to ensure drawdowns are not "too much/high/extreme" AND not "too frequent", AND that there is proper risk management "embedded within the EA", thus minimizing/avoiding the risk of "extreme" drawdown or "extreme" losses when using real money.
Note: The switch to "another" hot/trendy EA should be made when the profits earned from the "current" EA have reached a point/level where it no longer appeals to the individual's interest/preference. However, if there is an "unusual/unexpected/unanticipated" "significant" drawdown (according to the performed backtest and forward test), then that would unfortunately represent an actual/real risk/loss incurred by the individual (and would still require a switch to another hot/trendy EA). This risk can be "mitigated/minimized" by performing a backtest "AND" a forward test (both for a "significant" time period, i.e. depending on the "frequency" of trades placed from the EA), AND by conducting a proper psychological evaluation of the EA seller (as an "individual" entity), i.e. evaluating their reliability, logic, and confidence when it comes to addressing/answering relevant/crucial questions pertaining to Forex/Finance/Trading/Investing (rather than asking for or needing specific details regarding their intellectual property or proprietary strategy/system/software, i.e. their source code or trading methodology).
Ultimately, it comes down to “risk tolerance” while taking into account the results obtained from backtesting and forward testing, as well as the level of confidence and trust you impart/place on the person/group selling/distributing the EA.
Note: refer to the Investopedia website for definitions on the following terminology/vocabulary: backtesting, forward testing (i.e. paper trading on a demo account), drawdown (DD), maximum drawdown (MDD or MaxDD), and monthly/annual ROI (return on investment, as a percentage).
Also, note: "focus" on testing for maximum drawdown (MDD or MaxDD) (making sure drawdowns are not "too much/high/extreme" AND not "too frequent"; for example, not greater than 30%-50%, depending on your risk tolerance or preference) and looking for a "track-record" of "overall consistent" "monthly" profits from both backtesting and forward testing, i.e. paper trading on a demo account (both for a "significant" time period, depending on the "frequency" of trades placed from the EA). This "track-record" can be "verified" either through the "myfxbook" website or through the combined use of backtesting and forward testing.
~~~~~~~~~~~~~~~~~~~~
~~~~~~~~~~~~~~~~~~~~
Each and every year, students graduate from college and university. How is it "economically feasible" to provide jobs for all or most of these people? My understanding is that people need to display a good understanding of the psychology of first impression, which includes genuine/authentic personality, trustworthiness, and competency (reflected in education); in other words, honest, reliable, and competent in relevant matters, or integrity, energy, and intelligence.
Problem: The individual's attainment of their “desired dream/career job", which is their ultimate purpose for pursuing "rigorous" higher education (i.e. college or university) or "rigorous" professional education (i.e. apprenticeship or trades).
I believe that a lot of people attend college and university with the hope that they will obtain a job after they graduate, a job that will support them financially. If money is the primary reason for their pursuing higheprofessional education, shouldn't they be "informed" (as part of a global/collective civic/social responsibility) that there are alternative ways of making money (personally, namely, trading the financial markets), ones that will actually lead them to, or at least have a higher probability of leading them to, financial independence/prosperity, since the chances of them achieving such goal upon graduation from college/university is realistically slim – if not the problem of difficulty finding employment related to their “desired careedream job”, then the problem of a dead-end mediocre job with a “fixed” “small” salary?
Should we, as a society, steer people away from college/university, often temporarily, since, let's be honest, our society is currently producing "a lot" of "mediocre" individuals with no real chance of obtaining a job that they were initially in pursuit of? Can we, as a society, do a better job of "realizing" and "maximizing" the talents/skills of these "mediocre" individuals, i.e. individuals who have no real chance of obtaining a job which they had been (or currently are) pursuing/studying rigorously for?
After going through a proper evaluation of current circumstances and current options, I've realized that people need to get certain things in their life straight "before" working on pursuing higheprofessional education – i.e. Health > Wealth > Education/”Prestige”.
The mass of people who pursue college and university because their program is in high demand are ones that are studying the program not for its unique intricacies, but rather only for graduation with the expectation that they "deserve" to be rewarded a job. As opposed to, respect and appreciation to the language their subject takes on (whether that be Accounting language or Computer Programming language, etc.). Respect and appreciation for a subject or field is displayed when the person engages with the subject or field with a “critical thinking” mindset, with the main purpose/goal of analyzing and critiquing thoroughly the accuracy of any statement presented to them that is related to their chosen subject or field, i.e. effectively utilizing journaling and documentation (see relevant section below, point #1 of 2 under “ESSENTIAL/CRUCIAL” for more details); this main purpose/goal is often rooted from a genuine desire/interest/passion for pursuing/studying their chosen subject or field.
The simple fact remains that it is simply not economically feasible to provide jobs to meet the constant influx of supply being produced by colleges and universities, "each" and "every" year. As a result, why are people making the foolish decision to incur immense amount of “DEBT” (keyword) while pursuing higheprofessional education when the economic reality simply does not provide enough jobs for society, i.e. jobs that are specifically expected of from college and university graduates?
Quoted from someone else: "Our societies have for so long told us that education can and should equate to professional success, which should equate to economic success, yet we are entering a period where that simply can't occur. The foundation that those notions were created upon doesn't exist any longer, given how we have evolved and grown as a species, and we have yet to make the transition to a new set of notions."
~~~~~~~~~~~~~~~~~~~~
Some ESSENTIAL/CRUCIAL characteristics of an individual who exhibits genuine desire/interest/passion for pursuing/studying their chosen subject/field (especially at the higher education or professional education level) are as follows:
1) Effective "Information Management" strategy (utilizing journaling and documentation). The individual had made it a priority to create and compile personal notes or online documents for the purpose of future-reference and documentation – for potential revision, self-reflection, self-correction, or discovery, as this is crucial for knowledge retrieval, knowledge retention, as well as knowledge synthesis and creating/generating new knowledge. Note: information becomes knowledge when you regard the information as valuable and when you make the conscious decision to keep it as part of your notes with the expectation/option of using it in the future; knowledge is information in action, so actually using the information, instead of dismissing it as irrelevant.
Response from another individual/writer:
  • I don't mean that all information has to be kept as notes, nor that other strategies/tactics of finding/retrieving information aren't valuable. I don't even mean that it's impossible for someone to exist/operate without ever taking any notes. Most saliently, I'm more saying that to categorically omit note-taking from one's information management capabilities/strategy is to invite unnecessary trouble, likely to the point of dysfunction, unless one happens to never be doing anything that involves any significantly elusive information to begin with.
  • My bias toward this assessment is reinforced by 25+ years of highly-technical work that has resulted in literally thousands (or tens-of-thousands) of pieces of information, extremely valuable to me, that can't be readily found anywhere but in my notes.
  • Some of it is information specifically originating with myself – there's no one or nowhere else from which it can be gotten. Some of it is information that took me immense amounts of time, thought, and effort to find/acquire, and I would never want to have to try to find it again. Most of these things are in my notes because they have either already disappeared, or are likely to disappear, off of the internet, or don't lend themselves well to simple bookmark-able reference.
  • Another way of saying this is that personally-kept notes are a reflection of the time/effort/insight one has had to put into acquiring the information, combined with the value of retrieval efficiency (organized for one's own retrieval needs). To subject yourself to relying on reproduction of that time/effort and self-organization is to either admit that the time/effort isn't significant (i.e. the information is rather trivial or ubiquitous in nature), or that your own time/effort spent isn't worth much (if you're willing to repeat it).
  • Also, if one assumes that the information is always going to be right where you can easily find it, or even right where you found it before, that's actually just naive.
  • While its true you still need to expend time/effort into locating the info, it has been organized specifically how YOU determine it should be, and thus truncates any actual "overhead" involved in the typical "location" process, not to mention the guarantee that it's actually there to find. Note: overhead expense refers to an ongoing expense of operating a business; it is also known as an "operating expense".
  • As a simple/clear example: if you've never spent hours sifting through the deluge from the Google sewer pipe flooding into your browser, just to find anything remotely relevant to the fairly elusive technical scenario you're trying to resolve, then you're probably not acquainted with really anything I'm talking about, and your dismissal would then represent simply being unaware.
2) The individual is ASSERTIVE and NOT PASSIVE towards the subject they are studying. They are WILLING to articulate and share important ideas and concepts from the subject they are studying. The individual is not seen as someone who is under the spell/act (i.e. false and disingenuous impression of superior intelligence) of mindless regurgitation but rather, the individual is able to offer their OWN UNIQUE interpretation on the subject they are studying, while also citing important concepts or ideas where citation is necessary. In other words, the individual demonstrates "individual competency" THROUGH the subject they are studying and are ultimately/inherently passionate about. The individual's competency (i.e. his/her opinion or interpretation of what is relevant or accurate information) is demonstrated through the individual's pattern of logical and coherent thinking, as well as through the individual's writing style (which displays "CONFIDENCE" in what the individual is presenting as relevant or accurate information).
~~~~~~~~~~~~~~~~~~~~
Relevant response from another individual:
Decide where you fall on the self-directed spectrum.
Highly self-directed: technical books and MOOCs (Massive Open Online Courses)
Average: an online community + curriculum like Free Code Camp or theodinproject.com
Not very self-directed: An in-person coding boot camp like Hack Reactor or App Academy; similar to “subpamediocre” college/university “classroom” learning.
~~~~~~~~~~~~~~~~~~~~
There are only so many ways of acquiring wealth (with only some methods actually leading to long-term/sustainable financial independence/prosperity):
1) Real Estate
2) Owning a business; being an entrepreneur
3) Career Job requiring higher education (i.e. college or university) or professional education (i.e. apprenticeship or trades)
4) Minimum Wage Jobs
5) Trading the financial markets; making financial “investments” (stocks, forex, futures, options, equities, commodities, etc.)
~~~~~~~~~~~~~~~~~~~~
Pseudo-Intellectual versus Intellectual (the following is a response from another individual/writer):
An intellectual follows the values and attitudes of Critical Thinking, and exercises good thinking habits. Their interest lies in discovery and self-correction.
The traits of a true intellectual are as follows:
  • intellectual humility – recognizing the limits and sensitivities of one's experience.
  • intellectual courage – ability to examine things and/or state results or potentialities, even if it may be costly/risky to your personal beliefs, or social acceptance, established norms or theories. The ability to put things at risk. Even if they are your own cherished ideas or beliefs that you are putting at risk.
  • intellectual empathy – knowing that you have to imaginatively put yourself in the place of others in order to understand them.
  • intellectual autonomy – being able to think independently, to carry through without constant guidance from others, and sometimes even to come to different conclusions.
  • intellectual integrity – holding yourself to the same standards you hold others, and holding all beliefs to the same standards.
  • intellectual honesty – being willing to admit discrepancies and avoid overlooking exceptions, even to oneself.
  • intellectual perseverance – having the patience to struggle through difficult or complex problems.
  • confidence in reason – willingness to follow the logic where-ever it leads.
  • fair-mindedness – avoiding making unjustified special exceptions or privileges. Holding all viewpoints to the same standards. This does not mean that all views are equal; it means they all are held to the same universal standards. They might end up meeting those standards very unequally. For instance: the theory of evolution vs the fable of creation, or climate change vs science denialism.
A pseudo-intellectual does not do these things. Their interest lies not in discovery and self-correction, but in confirmation of what is already believed. Confirmation Bias. Their "thinking" style is characterized by cognitive biases, a lack of self-reflection/self-correction, a lack of rigor and completeness, and applying woefully different standards to beliefs/ideas that they cherish, and any information that calls them into question.
~~~~~~~~~~~~~~~~~~~~
submitted by gentlestream to Forex [link] [comments]

COMPREHENSIVE Forex Trading SOLUTION/ANSWER; FEEDBACK NEEDED

The following is a comprehensive response outlining a viable, reasonable, scalable, and sustainable solution for achieving financial independence/prosperity. Please let me know what you think as I would appreciate your feedback.
Trade the financial markets, specifically Forex trading. It's a fkin trillion dollar industry! There are a plethora of businesses online that sell software to meet the trading/investment needs of various demanding clients.
Just look up online EAs (Expert Advisor, which is automated/algorithmic trading, for Meta Trader 4), verify results using the myfxbook website (i.e. a reputable independent third-party website that certifies and tracks the record/performance of various trading strategies/systems, including commercial EAs), purchase the EA, verify results again by running/performing both a backtest and a forward test (i.e. paper trading on a demo account), and then, and only then can/should you use the EA with real money trading on a live/real account.
You can verify the EA's reliability by performing a backtest for a "significant" time period (for example 5-10 years; or depending on the "frequency" of trades placed from the EA) coupled with 2-3 months of forward testing (i.e. paper trading on a demo account) and if the results are "consistently" profitable (i.e. "overall consistent" "monthly" profits from both backtesting and forward testing) with drawdowns being not "too much/high/extreme" AND not "too frequent", then you can go live and trade using real money.
It's okay to expect a particular trading strategy/system to expire (i.e. lose its edge, or for profits to weaken/deteriorate/diminish). When that time comes, simply go onto the next “hot/trendy” EA or if you were fortunate enough to accumulate significant profits, you can store those profits in an interest-savings account and receive periodic income that way.
The purpose of backtesting and forward testing is to ensure drawdowns are not "too much/high/extreme" AND not "too frequent", AND that there is proper risk management "embedded within the EA", thus minimizing/avoiding the risk of "extreme" drawdown or "extreme" losses when using real money.
Note: The switch to "another" hot/trendy EA should be made when the profits earned from the "current" EA have reached a point/level where it no longer appeals to the individual's interest/preference. However, if there is an "unusual/unexpected/unanticipated" "significant" drawdown (according to the performed backtest and forward test), then that would unfortunately represent an actual/real risk/loss incurred by the individual (and would still require a switch to another hot/trendy EA). This risk can be "mitigated/minimized" by performing a backtest "AND" a forward test (both for a "significant" time period, i.e. depending on the "frequency" of trades placed from the EA), AND by conducting a proper psychological evaluation of the EA seller (as an "individual" entity), i.e. evaluating their reliability, logic, and confidence when it comes to addressing/answering relevant/crucial questions pertaining to Forex/Finance/Trading/Investing (rather than asking for or needing specific details regarding their intellectual property or proprietary strategy/system/software, i.e. their source code or trading methodology).
Ultimately, it comes down to “risk tolerance” while taking into account the results obtained from backtesting and forward testing, as well as the level of confidence and trust you impart/place on the person/group selling/distributing the EA.
Note: refer to the Investopedia website for definitions on the following terminology/vocabulary: backtesting, forward testing (i.e. paper trading on a demo account), drawdown (DD), maximum drawdown (MDD or MaxDD), and monthly/annual ROI (return on investment, as a percentage).
Also, note: "focus" on testing for maximum drawdown (MDD or MaxDD) (making sure drawdowns are not "too much/high/extreme" AND not "too frequent"; for example, not greater than 30%-50%, depending on your risk tolerance or preference) and looking for a "track-record" of "overall consistent" "monthly" profits from both backtesting and forward testing, i.e. paper trading on a demo account (both for a "significant" time period, depending on the "frequency" of trades placed from the EA). This "track-record" can be "verified" either through the "myfxbook" website or through the combined use of backtesting and forward testing.
~~~~~~~~~~~~~~~~~~~~
~~~~~~~~~~~~~~~~~~~~
Each and every year, students graduate from college and university. How is it "economically feasible" to provide jobs for all or most of these people? My understanding is that people need to display a good understanding of the psychology of first impression, which includes genuine/authentic personality, trustworthiness, and competency (reflected in education); in other words, honest, reliable, and competent in relevant matters, or integrity, energy, and intelligence.
Problem: The individual's attainment of their “desired dream/career job", which is their ultimate purpose for pursuing "rigorous" higher education (i.e. college or university) or "rigorous" professional education (i.e. apprenticeship or trades).
I believe that a lot of people attend college and university with the hope that they will obtain a job after they graduate, a job that will support them financially. If money is the primary reason for their pursuing higheprofessional education, shouldn't they be "informed" (as part of a global/collective civic/social responsibility) that there are alternative ways of making money (personally, namely, trading the financial markets), ones that will actually lead them to, or at least have a higher probability of leading them to, financial independence/prosperity, since the chances of them achieving such goal upon graduation from college/university is realistically slim – if not the problem of difficulty finding employment related to their “desired careedream job”, then the problem of a dead-end mediocre job with a “fixed” “small” salary?
Should we, as a society, steer people away from college/university, often temporarily, since, let's be honest, our society is currently producing "a lot" of "mediocre" individuals with no real chance of obtaining a job that they were initially in pursuit of? Can we, as a society, do a better job of "realizing" and "maximizing" the talents/skills of these "mediocre" individuals, i.e. individuals who have no real chance of obtaining a job which they had been (or currently are) pursuing/studying rigorously for?
After going through a proper evaluation of current circumstances and current options, I've realized that people need to get certain things in their life straight "before" working on pursuing higheprofessional education – i.e. Health > Wealth > Education/”Prestige”.
The mass of people who pursue college and university because their program is in high demand are ones that are studying the program not for its unique intricacies, but rather only for graduation with the expectation that they "deserve" to be rewarded a job. As opposed to, respect and appreciation to the language their subject takes on (whether that be Accounting language or Computer Programming language, etc.). Respect and appreciation for a subject or field is displayed when the person engages with the subject or field with a “critical thinking” mindset, with the main purpose/goal of analyzing and critiquing thoroughly the accuracy of any statement presented to them that is related to their chosen subject or field, i.e. effectively utilizing journaling and documentation (see relevant section below, point #1 of 2 under “ESSENTIAL/CRUCIAL” for more details); this main purpose/goal is often rooted from a genuine desire/interest/passion for pursuing/studying their chosen subject or field.
The simple fact remains that it is simply not economically feasible to provide jobs to meet the constant influx of supply being produced by colleges and universities, "each" and "every" year. As a result, why are people making the foolish decision to incur immense amount of “DEBT” (keyword) while pursuing higheprofessional education when the economic reality simply does not provide enough jobs for society, i.e. jobs that are specifically expected of from college and university graduates?
Quoted from someone else: "Our societies have for so long told us that education can and should equate to professional success, which should equate to economic success, yet we are entering a period where that simply can't occur. The foundation that those notions were created upon doesn't exist any longer, given how we have evolved and grown as a species, and we have yet to make the transition to a new set of notions."
~~~~~~~~~~~~~~~~~~~~
Some ESSENTIAL/CRUCIAL characteristics of an individual who exhibits genuine desire/interest/passion for pursuing/studying their chosen subject/field (especially at the higher education or professional education level) are as follows:
1) Effective "Information Management" strategy (utilizing journaling and documentation). The individual had made it a priority to create and compile personal notes or online documents for the purpose of future-reference and documentation – for potential revision, self-reflection, self-correction, or discovery, as this is crucial for knowledge retrieval, knowledge retention, as well as knowledge synthesis and creating/generating new knowledge. Note: information becomes knowledge when you regard the information as valuable and when you make the conscious decision to keep it as part of your notes with the expectation/option of using it in the future; knowledge is information in action, so actually using the information, instead of dismissing it as irrelevant.
Response from another individual/writer:
  • I don't mean that all information has to be kept as notes, nor that other strategies/tactics of finding/retrieving information aren't valuable. I don't even mean that it's impossible for someone to exist/operate without ever taking any notes. Most saliently, I'm more saying that to categorically omit note-taking from one's information management capabilities/strategy is to invite unnecessary trouble, likely to the point of dysfunction, unless one happens to never be doing anything that involves any significantly elusive information to begin with.
  • My bias toward this assessment is reinforced by 25+ years of highly-technical work that has resulted in literally thousands (or tens-of-thousands) of pieces of information, extremely valuable to me, that can't be readily found anywhere but in my notes.
  • Some of it is information specifically originating with myself – there's no one or nowhere else from which it can be gotten. Some of it is information that took me immense amounts of time, thought, and effort to find/acquire, and I would never want to have to try to find it again. Most of these things are in my notes because they have either already disappeared, or are likely to disappear, off of the internet, or don't lend themselves well to simple bookmark-able reference.
  • Another way of saying this is that personally-kept notes are a reflection of the time/effort/insight one has had to put into acquiring the information, combined with the value of retrieval efficiency (organized for one's own retrieval needs). To subject yourself to relying on reproduction of that time/effort and self-organization is to either admit that the time/effort isn't significant (i.e. the information is rather trivial or ubiquitous in nature), or that your own time/effort spent isn't worth much (if you're willing to repeat it).
  • Also, if one assumes that the information is always going to be right where you can easily find it, or even right where you found it before, that's actually just naive.
  • While its true you still need to expend time/effort into locating the info, it has been organized specifically how YOU determine it should be, and thus truncates any actual "overhead" involved in the typical "location" process, not to mention the guarantee that it's actually there to find. Note: overhead expense refers to an ongoing expense of operating a business; it is also known as an "operating expense".
  • As a simple/clear example: if you've never spent hours sifting through the deluge from the Google sewer pipe flooding into your browser, just to find anything remotely relevant to the fairly elusive technical scenario you're trying to resolve, then you're probably not acquainted with really anything I'm talking about, and your dismissal would then represent simply being unaware.
2) The individual is ASSERTIVE and NOT PASSIVE towards the subject they are studying. They are WILLING to articulate and share important ideas and concepts from the subject they are studying. The individual is not seen as someone who is under the spell/act (i.e. false and disingenuous impression of superior intelligence) of mindless regurgitation but rather, the individual is able to offer their OWN UNIQUE interpretation on the subject they are studying, while also citing important concepts or ideas where citation is necessary. In other words, the individual demonstrates "individual competency" THROUGH the subject they are studying and are ultimately/inherently passionate about. The individual's competency (i.e. his/her opinion or interpretation of what is relevant or accurate information) is demonstrated through the individual's pattern of logical and coherent thinking, as well as through the individual's writing style (which displays "CONFIDENCE" in what the individual is presenting as relevant or accurate information).
~~~~~~~~~~~~~~~~~~~~
Relevant response from another individual:
Decide where you fall on the self-directed spectrum.
Highly self-directed: technical books and MOOCs (Massive Open Online Courses)
Average: an online community + curriculum like Free Code Camp or theodinproject.com
Not very self-directed: An in-person coding boot camp like Hack Reactor or App Academy; similar to “subpamediocre” college/university “classroom” learning.
~~~~~~~~~~~~~~~~~~~~
There are only so many ways of acquiring wealth (with only some methods actually leading to long-term/sustainable financial independence/prosperity):
1) Real Estate
2) Owning a business; being an entrepreneur
3) Career Job requiring higher education (i.e. college or university) or professional education (i.e. apprenticeship or trades)
4) Minimum Wage Jobs
5) Trading the financial markets; making financial “investments” (stocks, forex, futures, options, equities, commodities, etc.)
~~~~~~~~~~~~~~~~~~~~
Pseudo-Intellectual versus Intellectual (the following is a response from another individual/writer):
An intellectual follows the values and attitudes of Critical Thinking, and exercises good thinking habits. Their interest lies in discovery and self-correction.
The traits of a true intellectual are as follows:
  • intellectual humility – recognizing the limits and sensitivities of one's experience.
  • intellectual courage – ability to examine things and/or state results or potentialities, even if it may be costly/risky to your personal beliefs, or social acceptance, established norms or theories. The ability to put things at risk. Even if they are your own cherished ideas or beliefs that you are putting at risk.
  • intellectual empathy – knowing that you have to imaginatively put yourself in the place of others in order to understand them.
  • intellectual autonomy – being able to think independently, to carry through without constant guidance from others, and sometimes even to come to different conclusions.
  • intellectual integrity – holding yourself to the same standards you hold others, and holding all beliefs to the same standards.
  • intellectual honesty – being willing to admit discrepancies and avoid overlooking exceptions, even to oneself.
  • intellectual perseverance – having the patience to struggle through difficult or complex problems.
  • confidence in reason – willingness to follow the logic where-ever it leads.
  • fair-mindedness – avoiding making unjustified special exceptions or privileges. Holding all viewpoints to the same standards. This does not mean that all views are equal; it means they all are held to the same universal standards. They might end up meeting those standards very unequally. For instance: the theory of evolution vs the fable of creation, or climate change vs science denialism.
A pseudo-intellectual does not do these things. Their interest lies not in discovery and self-correction, but in confirmation of what is already believed. Confirmation Bias. Their "thinking" style is characterized by cognitive biases, a lack of self-reflection/self-correction, a lack of rigor and completeness, and applying woefully different standards to beliefs/ideas that they cherish, and any information that calls them into question.
~~~~~~~~~~~~~~~~~~~~
submitted by gentlestream to investing [link] [comments]

Cloverhill Trust

Cloverhill Trust
Goal The goal is to accumulate as much purchasing power for its shareholders as possible.
Investment strategy The fund is trading crypto currency crosses and crypto currency denominated assets. The fund holds a core position in Bitcoins and also takes positions in producing investments. While markets are selected with a fundamental bias, positions are taken from on technically sound risk-reward basis. The crypto currency space is evolving rapidly and the manager takes pride in staying atop of the emerging trends and latest news. The fund is agile in its investments and subscribe to no other religion then that of maximizing the value of the fund itself.
Technology The fund is actively managed by a human. Proprietary tools are used to collect and analyze data from multiple sources. Markets are analyzed from a multi time frame perspective and trades can last for as little as a few hours, to several months. The main principle is trend following, but the key is to identify over extended moves and profiting from natural swings in the market. Simply put the fund extracts profit from market by aligning itself with the overall trend and trading price volatility.
Denomination The fund is denominated in Bitcoins. That means that the value of the fund is measured in the amount of Bitcoins it holds. Deposit and withdraw in Bitcoins.
No management fees If and only if the fund appreciates in value, a percentage of the appreciation goes to the fund manager. There is no management fee, which implies that there is an incentive to always grow the net worth of the fund. If the fund does not appreciate in value the fund manager earns nothing.
Dividend Dividends in the form of Bitcoins are paid out to all shareholders three times a year: at the end of April, August and December. The dividend is calculated as a percentage of the total appreciation of the fund in terms of Bitcoins. To calculate appreciation, the funds holdings is first priced in Bitcoins at market price at the time of valuation. Then total value of the fund is divided by number of shares outstanding. If the value of a share have increased since the last dividend was calculated, 15% of appreciation is paid out to the fund manager, 10% is paid out to the share owner and 75% goes back into the fund.
Shares When shares are bought or sold back to the fund, the fair value of a share is used. The fair value of a share in the fund is calculated by dividing the total worth of the fund in terms of Bitcoins divided by the amount of shares outstanding. When shares are bought and sold on the market, the market sets the price. The number of shares outstanding is communicated on reddit using the signing key (below). A share serves the purpose of adding capital to the fund and has no voting power.
Buying and selling shares to the fund New shares can be issued by the fund and outstanding shares sold back to the fund. Shares transactions are executed right after dividends have been paid out. New share issuance and buy backs does not affect the valuation of the funds appreciation. There is no cost attached to buying shares issued by the fund. For each share sold back to the fund, a 5% fee is deducted from the shares fair value and added to the funds net worth and the share is then destroyed. Since the fee is distributed equally to all share holders, everyone benefit from other share owners selling their shares.
Buying and selling share on the market Shares can be sold on the market. When a share is sold on the market, this transaction must be communicated to Cloverhill Trust so that the Bitcoin address tied to that share can be changed. This is done by sending an email to [email protected] with a message containing the new owners Bitcoin address. The message must be signed with the key associated with the former address attached to the share. The fund charges a 10% transaction fee of the shares fair value. The fee goes to the fund and thereby all shareholders stand to benefit from shares being bought and sold on the market. The fund must register and confirm that a share has changed owner, before the share can change owner again. The fund will process transactions at the end of each month. This implies that a share can only change owner one time each month. If in the future an automatic system is introduced, these transactions and fee will be lowered considerably and the time in which a share can change hands lowered by orders of magnitude.
Risk The fund should be considered high risk. Mainly because the crypto currency space is an unregulated market and still in its infancy. To minimize third-party risk, only exchanges that have stood the test of time are used. Long term positions are kept in cold storage. Shorter term positions are stored in a hot wallet and only when speed is required, stored on an exchange. In case of death of fund manager, trusted parties (a selected group of shareholders) will liquidate the fund and shares be bought back from its owners at fair value.
Leverage Fund may at times be leveraged or have exposure to leverage.
Liquidation of the fund The fund may be liquidated at any point in time without prior warning. The fund will automatically buy back all outstanding shares at fair value.
Privacy and communication A share is associated with a Bitcoin address. Besides from that, the fund has no other knowledge of the owners of the funds outstanding shares. While the fund might change email address in the future, the fund will always sign important messages with its key. Communication with fund is done through email only. Make sure to sign your message with your key attached to the share. You can use the official Bitcoin client, Bitcoin-QT.
Personal note from the fund manager I have half a decade of stock market and forex trading. Having been a software engineer and a trader, Bitcoin naturally caught my attention. I have managed other peoples money before and have realized that I do a better job of managing my own money, if I also have responsibility for others. If I can also make a small profit from it, then that is even better. I am also very interested and accumulating reputation and trust, since I believe that this is an asset that in time could open many doors and prove very profitable.
Do you want to invest? The fund has no knowledge of the identity of its share owners, but if you find shares on the market you can buy shares in the fund there. You can also buy shares directly from the fund, when new shares are being issued. To keep the number of shareholders on a manageable level and the market value of the shares stable, new shares are issued on a sporadic basis. Send an email if you want to buy shares!
Passthrough and derivatives Only shareholders may create derivatives with shares in the fund as underlying asset.
Contact email [email protected]
Message signing key 13o1NaMaunSTSREaGVC9yknC1YQu9u1jh3 (http://www.youtube.com/watch?v=3oxM9_OCQKM)
submitted by cloverhilltrust to Bitcoin [link] [comments]

Superbloom's Lesson Week 5 Volume Analysis Part 1 Der Wiedereinstieg! Break-Even-Tag durch Re-Entry  Daytrading Tesla will drop with 99% probability. How to sell Tsla? Forex Indicators / Helping You or Shitting You? Best Indicator That I Use #indicator #forextrading WHY UNDERSTANDING WICKS IN TRADING IS THE MOST IMPORTANT ... Introduction To Candle Stick pattern Part 1  English SUCCEFULL 15 MINUTES CANDLE INTRADY TRADING STRATEGY  STOCK UP 2

The Forex accumulation distribution indicator, however, displays divergence — rising while the price is falling. This bullish divergence may give us a tip-off that we might see the price turn upward. Which is, indeed, what happens over the course of the next few weeks on the chart (see above). Using Other Tools to Improve Accumulation Distribution Indicator Trading . No indicator is correct ... This indicator helps traders to assess whether the market is controlled by buyers (accumulation) or sellers (distribution). Forex Tutorials How well you know FOREX? The Accumulation Distribution Line can be used to gauge the general flow of volume. An uptrend indicates that buying pressure is prevailing on a regular basis, while a downtrend indicates that selling pressure is prevailing. Bullish and bearish divergences serve as alerts for a potential reversal on the price chart. As with all indicators, it is important to use the Accumulation Distribution ... Accumulation Distribution Indicator or ADL (Accumulation Distribution Line) is a volume based indicator which was essentially designed to measure underlying supply and demand. It accomplishes this by trying to determine whether traders are actually accumulating (buying) or distributing (selling). This is accomplished by plotting a running total of each period’s Money Flow Volume. Accumulation/distribution is a momentum indicator that attempts to gauge supply and demand by determining whether investors are generally "accumulating," or buying ... 1. Personal Introduction; 2. Introduction; 3. Vocabulary; 4. Types Of Trading; 5. Pips & Lot Sizes; 6. Calculating Gold & US30; 7. Brokers; 8. Times To Trade Good point,Broker vs real market, thats why in forex you must not trust volume at 100%. Maybe, thats why i do not trade only on spike volume ;-) But im sure, if we can get our hands on real market data, it will be as chaotic.

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Superbloom's Lesson Week 5 Volume Analysis Part 1

Professional Forex Trading Course Lesson 1 By Adam Khoo - Duration: 58 ... Identifying Accumulation and Distribution By the Market Professionals - Duration: 11:23. The Mindful Share Trader 61,455 ... WHY UNDERSTANDING WICKS IN TRADING IS THE MOST IMPORTANT **FOREX-STOCKS-CRYPTOCURRENCY** What Broker Do I recommend? https://bit.ly/2QCWYTD Disclaimer Our co... Mein Forex- und CFD-Broker: https://devisen-handeln.org/forex-broker/admiralmarkets.html Mein Futures Broker: https://fib.ampfutures.com/daxinator-gett... In this video Mr. Kishore Kumar will be discussing about the Introduction To Candle Stick pattern Part 1. Training Classes on Stock / Commodity / Forex Trading Online Classes through Webinar (18th ... accumulation distribution indicator forex, forex indicator efc + scanner.zip, exit indicator forex, entry indicator forex, ema forex indicator, envelopes forex indicator, forex adx indicator ... disclaimer*: *i am not a sebi registered financial adviser.* all my videos and recommendation are only for educational and motivational purpose. please don't... In this lesson, you will learn what is the accumulation and distribution cycle in trading. It will help you better identify where to buy and sell some Stock. Push like and Subscribe on Youtube ...

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