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So, I just Bought our Dream House for 900 000 USD

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As most of you know, my wife and I got a daughter in April. We currently live in an apartment on the east side of Oslo. It is a 68 square meter apartment with two bedrooms and one living room with an open kitchen solution. We have lived there for the last four years, and it has done wonders to us. It lays next to the underground station with just 30 minutes to the city center.

Since I got a job at the west side of Oslo, I’ve been using 45+ minutes each day to my “regular job”. It is near the limit of what I want to spend on travel to work (approx. one hour and 30 minutes each day, it adds up..) With the new house, I will spend less than 20 minutes which will save both time and energy on a daily basis.

The apartment we now got is on the 4th floor, with no elevator, making it quite a hassle to move up and down with a newborn baby. And most important: I do not have an office (which kind of drives me crazy right now).

The new house went way above the initial asking price (unfortunately). Even in a market that is expected to decline in the coming three years (Oslo, Norway). But I couldn’t let that house pass as it is the house of our dreams. Even though, as an investment choice, it might be a bad decision, but as a choice for our next 10 to 20 years, it was the correct decision (I can feel it!). I don’t care if we lose some money on it.

We are taking out the largest mortgage we could (also a bad decision for most), but with my current investment- and business plan, including income from our regular jobs, I believe we can manage just fine. My wife is a lawyer working for an insurance company in Oslo, it’s a stable position. Including the position I got in a shipping company.

I do not know if you should “learn” anything from this post, other than it is not just black and white. Good investments can still be bad financial wise, but good for you and your family. You have to weigh up both, or more, factors. Then in the end, you have to be able to live the life you want to live. Money isn’t everything.

Please let me know your thoughts in the comment below. Was this a huge mistake, or do you salute the purchase?

And: Do let me know if you are in Oslo anytime from August and onwards, maybe I can invite you to a few drinks and we can discuss financial freedom IRL.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.2 stars on average, based on 56 rated postsFounder of Hacked.com and CryptoCoinsNews




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60 Comments

60 Comments

  1. Jeremi Fisher

    June 13, 2017 at 7:43 pm

    Congrats Jonas!

    • Jonas Borchgrevink

      June 13, 2017 at 8:19 pm

      Thank you Jeremi 🙂

    • rtacconi

      June 13, 2017 at 9:09 pm

      I completely agree with you, it is a dream house and it will give happiness to you and your family. Investments are meant to help us to reach financial stability and make our dreams become true.

    • luis ivan poblete

      June 16, 2017 at 1:47 am

      Life is Short. You did the right thing. My opinion as a Realtor Broker IN Washington DC Maryland and Virginia

  2. SlavDaddy

    June 13, 2017 at 7:45 pm

    Beautiful house Jonas, wish you all the best in the years to come! 🙂

    • Jonas Borchgrevink

      June 13, 2017 at 8:20 pm

      Thank you so much SlavDaddy, same to you!

  3. samohtelcamer

    June 13, 2017 at 7:46 pm

    Hi Jonas! Congratulations for your new house… I wish you and your family the best of the best!!! I am deeply convince you have made the right choice. I have also bought a house two years ago, it represented a HUGE investment but it really worth it. There is a lot of work to do it that house but it will be finally ready to welcome my wife and our futur baby!!!
    Well done, once again! (btw, if you want to see my house, the work and the steps that have been made, hit me up!!!)

    • Jonas Borchgrevink

      June 13, 2017 at 8:20 pm

      Hello, sent you an email!

  4. paracetomol

    June 13, 2017 at 7:46 pm

    Congratulations Jonas – looks like a great place and I wish you and your family all the best.

    • Jonas Borchgrevink

      June 13, 2017 at 8:20 pm

      Kind words. Same to you!

  5. dgimness

    June 13, 2017 at 7:47 pm

    Nice place Jonas! Congrats! Housing prices will just keep going up and up IMO! I need to buy a house as well ASAP.

    Great having your own office. No fun to have an office in the living room with no door to close. : (

    • Jonas Borchgrevink

      June 13, 2017 at 8:21 pm

      Haha, so true.. Been doing that for too long.

  6. wasabi

    June 13, 2017 at 7:53 pm

    Hi Jonas ! I wish u the best and happy for u n yr fmly to have this dream house.

    U deserve it. Praise God.

    Thank U for yr excellent service towards us all yr clients.

    We highly appreciate it.

    Rgds…frm CHILE

    • Jonas Borchgrevink

      June 13, 2017 at 8:21 pm

      Warming my heart, thank you Wasabi.

  7. JoshLian

    June 13, 2017 at 7:54 pm

    I like your new house! Modern, spacious and surrounded by a beautiful nature. I am an architect and a real estate developer in San Francisco, US. 🙂

    • Jonas Borchgrevink

      June 13, 2017 at 8:22 pm

      Approved by an architect! Thank you!

  8. corporate_citizen

    June 13, 2017 at 8:02 pm

    No worries. You’ll pay that house off in ten-years with less than 10 Bitcoins.. :))

    • Jonas Borchgrevink

      June 13, 2017 at 8:22 pm

      Haha,, need to get some bitcoins then 😉

  9. St3fk0

    June 13, 2017 at 8:07 pm

    Congrats! Beautiful house.

    • Jonas Borchgrevink

      June 13, 2017 at 8:23 pm

      Thank you! 🙂

  10. dakleyer

    June 13, 2017 at 8:14 pm

    Can I ask how old are you Jonas?

    You really helped me a lot with your blog and “opened my eyes”.

    But I disagree with the core of some of your points of view. Like some investors in Cryptocurrencies I believe the finantial system is about to collapse in our life time and we have to make some investments according to this:

    For me, the most important is time with everything that is not going to last like my own family-children, but also the nature and culture that is going to disappear (because climate change and new economic systems)

    For me, a house is not a great investment because I prefer to rent and live on different places and it is very nice to travel with my family, so I try to adapt my job to this (I´m a consultant)

    • Jonas Borchgrevink

      June 13, 2017 at 8:26 pm

      Hello Dakleyer,

      I do agree with you. I also believe we will have huge problems in the years to come, both with climate change and automation of job tasks. I also agree that this wasn’t a good investment choice as I wrote in the post. So we are in perfect sync when it comes to that. On the other hand, I have to prioritize my family and what’s best for them at this point in our life and social setting. Norway is still one of the most “stable” countries on earth, so the drastic changes might appear in other countries first. I do have an investment plan that I’m sticking with, and a business plan to increase my income.

      BTW: I’m 26.

  11. Msodenkamp

    June 13, 2017 at 8:18 pm

    Very impressive – congratulations !!!

    • Jonas Borchgrevink

      June 13, 2017 at 8:30 pm

      Thank you Msodenkamp 🙂

  12. johnnyquid

    June 13, 2017 at 8:22 pm

    Having a home is always nice. I have to say though it is way overpriced. Almost a million, damn. ….Being happy is important but you also should be getting what you paid for. Plus a mortgage? Damn bankers…How much land did you get? I’m not beating you down. By no means. But that is a sour deal

    • Jonas Borchgrevink

      June 13, 2017 at 8:31 pm

      It’s kind of stiff pricing in the Oslo area.. 600 square meters. I totally agree with you, too much! But I’m still happy ;P

  13. GhostCap

    June 13, 2017 at 8:33 pm

    Congratulations! Huge Milestone. Very cool.

    • Jonas Borchgrevink

      June 13, 2017 at 10:33 pm

      Thank you GhostCap, indeed it is..!

  14. endahltrading@gmail.com

    June 13, 2017 at 8:39 pm

    Congratulations Jonas. Not every purchase decision can be solely based on objective calculation or potential ROI. In the end, we can’t take our assets with us when we die. Objective reasoning balanced with some indulgence, that is, it lets us be human. The great memories your family will create in your new dream home, that alone is priceless.

    • Jonas Borchgrevink

      June 13, 2017 at 10:35 pm

      Great words, exactly. Memories are always worth more.

  15. Sfinance1966

    June 13, 2017 at 8:50 pm

    I am about to do exactly the same, massive mortgage, hitting my crypto investments for a dream home by the sea, even has a ramp to let boats into the sea. £650K.
    Money can be a tool to find happiness but will not buy happiness.

    • Jonas Borchgrevink

      June 13, 2017 at 10:35 pm

      Yes! Do send me some pictures if you purchase your home. Wish you all the best!

  16. gullyfoyle

    June 13, 2017 at 8:50 pm

    Jonas congratulations, purchased a place myself last year. Finally feels like a home after renovation and no end of drama. Now we’re looking to sell it for a tiny profit and buy something more appropriate and locking a mortgage for 20 years. I’m certain a decline is coming but with that kind of stability it’s worth the risk. After all you need somewhere to live.

    • Jonas Borchgrevink

      June 13, 2017 at 10:36 pm

      Yes, and as long as you have a long horizon and don’t need to capitilize your home, it will be a positive thing.

  17. hollyjoykersh

    June 13, 2017 at 8:58 pm

    Congratulations Jonas! Sometimes the house chooses you! It will be a beautiful home for your family and an incentive to strive for greatness. Thanks for all your advice.

    • Jonas Borchgrevink

      June 13, 2017 at 10:37 pm

      Thank you for your comment 🙂

  18. Prateek

    June 13, 2017 at 9:08 pm

    Congrats Jonas ! Beautiful house, Good decision one has to take for family and your financial wisdom will easily pay off the related mortgage. All the best 🙂

    • Jonas Borchgrevink

      June 13, 2017 at 10:37 pm

      Let’s hope so 🙂 Thank you.

  19. wootrain11

    June 13, 2017 at 9:16 pm

    Very nice post. Enjoyed reading about your positive direction with you and your family. All the best! I am a new subscriber and am glad to be a part of it.

    • Jonas Borchgrevink

      June 13, 2017 at 10:38 pm

      Glad to hear that, welcome and thank you!

  20. ishturman

    June 13, 2017 at 9:38 pm

    Congrats, from Mexico.

    • Jonas Borchgrevink

      June 13, 2017 at 10:38 pm

      Thank you ishturman! Hope you are doing fine overseas.

  21. danielray

    June 13, 2017 at 9:44 pm

    Nice house, I think the most important thing is that is near the forest. I would love to live in such a place. Hopefully after some hard learned lessons and couple of hundreds of thousands lost, I will regain and buy a similar home near Bucharest, my home city. You example is very important. It reminds me that money is not everything and that quality of life is worth the higher price. Thank you !

    • Jonas Borchgrevink

      June 13, 2017 at 10:39 pm

      Hello Daniel, really glad that I’m able to give you something of value. And thank you for your comment.

  22. WalterSobchak

    June 13, 2017 at 9:48 pm

    Beautiful house Jonas, congratulations for you and your family.

    • Jonas Borchgrevink

      June 13, 2017 at 10:39 pm

      Thank you Walter 🙂

  23. ltummers

    June 13, 2017 at 10:53 pm

    IMHO what would be a better investment than a house to enjoy with your kids and love?
    No crypto / stock or business in the world. Remember why do we do trade at the bottom line? We want to set us free and be financially independent for the future to come. No big bankaccount or 10000 BTC will bring you love & smiles on your kids face. Maybe it’s a cliche but many people forget basic life principles. I wish you all the best in your great new home Jonas 🙂

  24. maxwest

    June 13, 2017 at 11:08 pm

    Very nice. I am happy for you. We will be on holiday to Norway this summer to see the Fjords with my family.

  25. RH2302

    June 13, 2017 at 11:17 pm

    Looks like you got your life well on track! I think it’s an accomplishment to be proud of. Certainly at your age.

    Thanks for making this community possible. Hopefully, in 2 years, it will bring me where you are now ?

  26. MSNP05

    June 13, 2017 at 11:53 pm

    Congratulations Jonas !! Excellent home .. totally agree with your writeup.

    In my opinion, home is an investment that one should make not looking at the price alone, but looking at it as a place to rest after a tiring day, a place to enjoy with your loved ones, a place to cherish as an outcome of how good you have done in career. Obviously it needs to be a measured investment to ensure you are able to sleep peacefully but once you know how much you can stretch and if all of you in the family are able to look at each other and feel proud then call it Home.

    Enjoy your new home !

  27. pradz

    June 14, 2017 at 1:44 am

    Its early morning here in India and you spring up these beautiful pictures of your new home, and I’m happy looking at it so i can’t imagine what a flipping butterfly you might be.

    Echo others’ sentiments of good/bad decisions, ROI and family. All that matters is what YOU think Jonas, if you think you did good. That’s all you’ll ever need to know.

    Congrats man, You hacked it! Enjoy your home.

  28. shijo234

    June 14, 2017 at 4:17 am

    Congrats, Jonas.. Beautiful House..

  29. UNIQUE

    June 14, 2017 at 4:31 am

    Hearty Congratulations Jonas !! ?
    Its really a very very nice home and perfect decision. And I am quite sure that you all will enjoy this home very well.
    All The Very Best !!!
    ?????????????????

  30. elminv

    June 14, 2017 at 6:32 am

    Congratz man it looks beautiful, enjoy it! 🙂
    I might be in Oslo after Christmas, I’ll let you know!

  31. Freestayl

    June 14, 2017 at 7:14 am

    A very nice looking house! Congrats, Jonas!

  32. walt747

    June 14, 2017 at 12:32 pm

    Great Choice Jonas, buying a House early on is best investment but of course best get it at lower than market value price, but look at it longterm, you get to enjoy it now and the years to come which gives more value to you and your family when you use it. God bless you!

  33. K49FRJyel

    June 14, 2017 at 10:39 pm

    Congrats! Looks like a great place. Currency is a tool – and one of the important things you build with that tool is a home you love to live in. No point in creating more stacks of currency if you can’t love your life.

  34. mandym4life

    June 28, 2017 at 1:10 pm

    Sick patio.

  35. porcupine1967

    July 16, 2017 at 10:56 pm

    Nice place and looks like a lovely location but my dream house has an indoor pool, tennis court, steam room and a good few acres even though I cannot swim, or play tennis and I hate insects but it’s nice to dream.

  36. tgsmikema

    October 26, 2017 at 11:19 am

    Congratz Jonas! Awesome and beautiful house, must be so good to live in there, but housework load should also increase 😛 Haha

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“The Core of Any Blockchain Project is Decentralization” – Jack Zhang, Lightning Bitcoin

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Lightning Bitcoin is a fork of the ‘first-crypto-currency’ Bitcoin about which we decided to take the opportunity recently to speak to advisor Jack Zhang (AKA DianfuDatou / 点付大头 – known best as a Founder of Chainfunder and DAF).

Discussion topics include: what makes this project unique, as well as how you shouldn’t get it confused is not to be confused with the Lightning Network upgrade which is being applied to the original ‘Bitcoin’.

Who is Jack Zhang

Jack Zhang (AKA DianfuDatou / 点付大头) is a Chinese investor, business leader, and entrepreneur whose “portfolio includes XRP, XEM, IOTA, NEO, EOS, TEZOS, VEN”.

Zhang proudly describes himself as “one of the leading advocators of Ripple in China” having “translated Ripple into Chinese as ‘ruibobi’” – as well as the co-founder of NEO. Please note that most sources ascribe this latter achievement regarding NEO to an ‘Erik Zhang’ and so this claim requires further confirmation – however this writer sees no reason for him to lie in this respect.

He claims that his first experience with cryptocurrency was in 2011, when he entered the industry himself having previously worked as an investment banker at companies such as Zhejiang investment bank.

“I bought more than 10 thousand bitcoins at the price of 5 dollars and sold all of them out at the price of 7 dollars. At that time, I remember how I was reading posts on Bitcointalk about blockchain for several months and got fascinated by the genius design of the technology.”

Zhang says that the Lightning Bitcoin team members “come from a diverse cultural background, including China, the United States, Canada, the UK, Russia, Germany, and India.” And that:

“Currently Lightning Bitcoin has four core developers (listed on the website) with a team of 6 specialists. Eason Zhao is a CTO and H.H.Wang is a leading developer.

“Lightning Bitcoin also has an operational team of 8 outstanding and hardworking people managed by Wasley together with a community manager James Vuitton… We have independent leaders for each directions of the business;”

What is Lightning Bitcoin?

According to Zhang, Lightning Bitcoin is “a coin that takes the best from existing blockchain titans and adds advanced consensus mechanism.”

“Lightning Bitcoin forked from Bitcoin blockchain at block height 499,999… Lightning Bitcoin (LBTC) is a fully decentralized Internet-of-value protocol for global payments.

“The specific applications include peer-to-peer transactions and exchange platforms. Any users that operate on the LBTC protocol can enjoy instant, secure and nearly free global financial transactions of any size.”

Lightning Bitcoin is far from the first (nor will it be the last) fork from Bitcoin. A number of observers have claimed that the correlation between new forks and over inflation of Bitcoin. Jack Zhang however sees it as follows…

“Back in 2017, Bitcoin blockchain started to face network congestions, and a lot of other problems, that is one of the reasons why there were so many hard forks popping up. However, all of them changed either size or difficulty adjustment, what in my opinion did not improve the situation. That is a consensus that makes the difference. Pow and PoS are easily centralized, while DPoS represents true decentralization. Moreover, DPoS has the benefit of high efficiency, with little resource consumption.”

This mechanism utilises the relatively young Distributed Proof of Stake (DPoS) protocol which this writer has written about in a recent article, despite its basis upon the Proof of Work (PoW)-based ‘Bitcoin’.

Zhang states that Distributed Proof of Stake “allows separation of the voting power and block production, with no risks of a hard fork.” In fact, the aftermath of the announcement of DPoS adoption coincided with the company taking on another of its advisors “Stan Larimer a founding partner of Bitshares… we found mutual interests, as a result Stan joined Lightning Bitcoin advisory board.”

“Lightning Bitcoin uses DPoS, with the forging interval of 3 seconds, and the block size of 2M. We have achieved the TPS of thousands of transactions.

“Anyone can use LBTC, without censorship. The transaction fees are charged only for preventing network security issues, like DDoS attacks. It is not an off-chain solution on top of the Bitcoin blockchain as Lightning Network. I personally believe that Lightning Network will face the problem of centralization eventually.”

Furthermore,

“Lightning Bitcoin’s on-chain governance system enables LBTC holders to vote for the blockchain improvement proposals and the delegates who maintain the network as Lightning Nodes. It solves the problems of centralization of bitcoin by incorporating all participants in the Lightning Bitcoin ecosystem into the decision-making process.”

Lightning Bitcoin vs Lightning Network

Due to the similarities in naming, it seems natural that there may be a little confusion on behalf of the public and crypto-investment community with regards to the differences between ‘Lightning Bitcoin’ and ‘Lightning Network’.

“There is some confusion, you are correct.

When Lightning Bitcoin forked in December 2017, for Lightning Network it was still unclear when it is going to be launched, since it was still at the internal testing stage; only after four months later, in March 2018 when Lightning Network released its beta, both projects started to be confused by users in some countries.”

This, according to Zhang, is actually a problem more specific / limited to region,

“In other countries, like China, lightning network is not that well-known, as well as it has different Chinese name, that gives us more room for the development in Asia.”

Present and Future of LBTC

“Currently, Lightning Bitcoin network is stable, we constantly improving its functions and adding more products.

“The next big step for LBTC that we are working on right now is the development of on-chain governance, that will allow the network to self-improve and self-upgrade.

“In the future, stable upgrades of Lightning Bitcoin network in combination with chain governance, and decentralized transactions will allow cross-chain flashovers and smart contracts… the exploration of the on-chain governance model will become one of the most important tasks in the current stage of LBTC.”

Zhang continues to discuss the future for the coin in-detail as well, including that:

“In short, after complete integration of on-chain governance, next milestone is the development of new decentralized exchange. It will be an important component of the LBTC payment function.

“This exchange will have both basic functionality such as flashovers function of the gateway, as well as a system to guarantee the ease of cross-chain operations. Additionally, it will have the function of early crowdfunding of project under the necessary supervision.”

Finally,

“After implementing and perfecting the decentralized exchange, the development of intelligent contracts based on the UTXO model will be carried out, and a high-concurrence-based public chain ecosystem will be established to guide the flow of DAPP traffic.”

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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Trans-Fee Mining: Investigating FCOIN and The Future

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Trans-fee mining’ is a concept utilised by a growing number of projects and exchanges which has not received much in the way of critical attention recently from either mainstream financial or specialist cryptocurrency publications.

The Fall of F-Coin?

Thanks to a company called FCOIN, most of the news which has appeared has been negative. Statistical information regarding the exchange can be found at popular aggregate ranking website CoinMarketCap.

Despite positive coverage earlier this year from the likes of Forbes’ Andrew Rossow, David Hundeyin of our sister site CCN.com wrote more recently that the exchange had been “Accused of Crippling Ethereum Network for Cheap Publicity” with a supposed aim of gaining publicity.

These pundits are joined by community members such as Reddit poster u/ltcisking (along with a large amount of other concurring, Google-topping results), who recently wrote a post aimed at proving such allegations, entitled ‘One of the biggest scams to ever hit Crypto’.

Twitter has also seen its fair share of investor complaints as well, including the following…

As well as the replies to this post,

What is Trans-Fee Mining?

Due to the unusual circumstances in which the ‘trans-fee mining’ sits (being supported by a number of independent projects despite the reputation of FCOIN): it is a difficult methodology to describe.

It builds upon the concept of the ‘exchange token’: which is most often associated with coins such as BNB (Binance Coin), which can be used for staking towards a particular crypto in the exchanges ‘community coin of the month’ program.

The original FCOIN implementation appeared to build upon this vision at first. The token’s value is derived from the fact that it has a stable value, and that it can be used on-platform (like BNB) as a means of purchasing other tokens whilst offering regular returns on investment for long-term holders of the token.

What is FCOIN Doing Now?

FCOIN has issued various statements which appear to support the sentiment behind the claims which they have faced. These include a recent August 14th post, with the telling title ‘FCoin community referendum end and recent plan publicity’.

Highlights of the piece include new objectives such as

“1.Complete and publicize the destruction of the remaining unissued FT.
“2. Complete the delivery of all FT warrants and withdraw the FT warrants from the market…
“4. As of the end of the referendum, the previous trans-fee refund will remain unchanged (based on the price of the FT related trading pairs before the suspension), and then, all the trans-fee refund will be stopped (including all return plans based on FT issuance).
“5. We plan to establish an FCoin mechanism and an announcement cleanup team. The team untied and improved the current FCoin mechanisms and standardized the release of various mechanisms in the future, and made a unified interpretation.”

At best, this may be an admission of fault, and at worst: an ambiguous and uninformative piece of messaging which fails to outline the situation with a strong brand or executive voice.

This comes in addition to a couple of announcements regarding ‘compensation planning’ with regards to investors who had “participated” in the fundraising of the ‘GU’ and ‘QOS’ tokens through their service.

The latter included the assurance that this process “compensation plan is an initiative taken by the platform to protect the interests of community user” concluded with the damning statement that:

“The FCoin platform has informed the QOS project parties and urged them to conduct self-examination of market price fluctuations and recent media reports as soon as possible. It is not excluded to take delisting and other related measures. The specific plan will be subject to the subsequent announcement. During this period, QOS will be temporarily suspended.”

Torch-bearers of Trans-Fee Mining?

Various claims of discrepancy against FCOIN’s actions as a company however, have not discouraged many projects which are attempting to build their own version of trans-fee mining. Whether or not they have been inspired by the short-lived success of FCOIN’s implementation is yet to be confirmed!

One of the most recent organisations which has decided to foray into this difficult and all-but-controversial territory is BitMart, an exchange founded by current CEO Sheldon Xia. Their approach is branded ‘Mission X’, and utilises their proprietary ‘BMX’ token.

“All transaction fees from the BMX market will go directly to the users who supported the project. In addition, successful projects will enter BitMart’s main trading markets.

“This program gives users the ability to decide which projects they want to be listed on the exchange, creating a self-regulated market.”

The platform piqued this writer’s attention upon noticing a disparity between public consensus and professional news coverage. Whilst the latter has published next to nothing with regards to the platform, a quick search of social media and communities such as forums seem to illustrate a positive and transparent image.

CoinEx was recently reported to have achieved unprecedented growth following the release of their token – however, like FCOIN have been called out for discrepancies. This time regarding the faking of volume metrics.

Final Thoughts

It appears that trans-fee mining as a concept is a long-way from earning this writer’s confidence, however it must be noted that there are many promising aspects. Time will tell whether talent will shine through or if trans-fee mining will fade out at the hands of opportunists.

What is important to note is that it is not the technology or idea, but the hands that are operating the machine incorporating it.

This writer cannot directly recommend the concept in its current state, but believes that the original idea is solid and if implemented in a viable way: would thoroughly warrant the full attention of any potential investor.

Until then, watch the community and keep an eye on the media – as well as word-of-mouth as this flawed-yet-promising idea is if nothing else, highly interesting!

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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My CFD Journey: 72,000 USD Up Today

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Wow the indexes are falling globally now. Dax is down with 1% today – same as Dow Jones. I would love to do a short call on these indexes, but that have seriously hurt my financial standings previously since we still are in a “bull” market with earnings reports beating forecasts and macroeconomic numbers excelling analysts viewpoints. I only want to trade by using trend following, so even if the markets are down, I love to do short buy calls as they most likely will rebound to new ATH (all time highs). The reason for just doing short buy calls is that we might be on the tipping point to a bearish market, but that’s something I would like confirmation on from e.g. macro numbers, earning reports and such. Until then, I’m quick in and out.

Here is my results

Order Entry Price Take Profit Stop Loss USD Bank Roll USD % Change
Start 258 064,52
Day 1 25.01.2018 Dax Buy 13268 13274 13262 6 472,52 264 537,03 2,51
Day 2 26.01.2018 Dax Sell 13342 13318 13392 7 642,84 272 179,87 5,47
Day 3 29.01.2018 Dax Buy 13331 13336 13313 12 508,39 284 688,26 10,32
Day 4 30.01.2018 Dax Buy 13226 13233 13176 6 625,94 291 314,19 12,88
Day 5 31.01.2018 Dax Buy 13217 13230 13187 26 474,06 317 788,26 23,14
Day 5 01.02.2018 Dax Sell 13291 13265 13327 10 834,58 328 622,84 27,34
Day 6 02.02.2018 Dax Buy 12797 12825 12772 72 314,97 400 937,81 55,36

Using ProRealTime

As I wrote yesterday, I’m using IG.com to trade CFDs. They got a tool called ProRealTime that I started to use yesterday. It’s a great tool with many more indicators and tools, and best of all, you get a good look at your stats. Here is my stats so far on ProRealTime in NOK (1 USD = 7.65 NOK – click on the images to get a larger view):

As you can see from the image above, I got 8 winning trades and 1 losing trade. I tried to buy the dip on Dax but managed to enter a bit too early. The Dax index fell quite rapidly after I initiated this trade and I wanted to keep it open as long as possible as I knew a rebound would happen. But I was not comfortable enough to sit it through so I closed it. Still feeling certain that the price would rebound I entered a buy position yet again at what I thought would be the lowest low. And thankfully, that worked and it rebounded above my initial entry point for the first trade. To ensure that I got the profits I wanted, I did a third trade buying Dax when RSI showed a trend reversal (rose above 50). I closed the trades once I was happy with the profits and because I became nervous that the price would turn back down. Then I initiated the last trade of the day going long on Dax yet again.

Here is the total overview of my trades today:

I would again like to highlight that trading CFD is very risky, and I’m still significantly down in total these last 3 years.

My trading rules

  1. Only risk max 2% of my bank roll per trade.
  2. Have 0 active positions during the night (first of all, I lose sleep, second; you are charged an interest fee for leaving a leveraged product overnight.)
  3. Always trade on last month’s trend including the previous day(s). If they do not correlate, I will not trade.
  4. If one position is lost, I’ll double the amount (martingale) and do a second trade. I’ll only stop doubling after 3 consecutive losses.
  5. Do not think about lost trade opportunities.
  6. Markets to trade: Dax & Dow (minimum spread).
  7. Stay updated on economic releases prior to entering a trade.
  8. Do not have emotional ties to the money. I like to call them “points”.
  9. Only enter a position when an asset is overbought or oversold shown by both RSI & Stoch at the same time.
  10. Always write down your trades and elaborate what went right or wrong.

What is the meaning of this?

Why I’m I writing all these posts? My main goal is to find a working strategy trading CFDs and be able to mentor Hacked.com members and do live sessions together. However, I would like to keep going for at least one month until I feel comfortable that the strategy I have, actually works. I would rather lose my own money, than lose any of yours.

I wish you all a great weekend. We are going to visit our family this weekend and have a nice time.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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