Turkish Lira Rallies on Easing of Currency Trading Limits ...

One America News - Turkish lira still volatile as central bank moves on corporate forex

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Some oriantal questions.

Hello guys, as you may have noticed i am new here and to the trading world. I guess it has been over a month roughly and i drain information like a sponge, i have done babypips, read 3 books about strategies and mentality + risk management. Watched over 100 videos including webinars and lessons along with the youtube content. But i have questions which are pretty rare and cant find answers anywhere. I searched Forex and couldnt find any related stuff either. I am living in Turkey and the condition of Forex is different here. Leverage is limited to 10:1 and you need to deposit 50.000 turkish lira to the broker(lots of money). So i want to use a broker who is not supported by turkish state. Like pepperstone, i would appreciate recommendations. The real deal is this. Currently 7 turkish lira = 1 USD (rounded) and a 100 USD is an okay income a month for a turkish student (i dont expect to earn this at all, i am just trying to describe the situation that Turkey is in.) However guys i may start depositing with a small amount of 500 USD at most (at the beginning, every month i will deposit more). I want to risk %1 of my account each trade. And i trade mostly in 15m and 1h candles in my demo account and those show the most profitable results. But will i be able to earn despite the comissions and spreads? Which type of account you guys recommend. Thanks a lot. Appreciate it.
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Turkish Lira Slumps as U.S. Threatens ‘Significant’ Sanctions By Bloomberg

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Best Cryptos to Invest in the Year 2019

Looking back in recent history, it seems as though big investors and financial organizations are changing their attitudes towards Bitcoin and altcoins. The media coverage worldwide illuminated the vast returns being had in the cryptocurrency markets, with many coins up over 100x since their conception. This certainly has garnered the attention from both legacy and newcomer investors. Currently, everyone is waiting to see if cryptocurrencies can continue on their path to new all time highs.
2017 turned out to be a whirlwind year, with most cryptocurrencies soaring to new all time highs at the end of 2017 and early 2018. The media coverage of cryptocurrencies was nonstop, with news reports on financial programs almost daily. In addition, many movies and tv shows mentioned cryptocurrency, including the technology oriented show “Silicon Valley.” So far, 2018 has seen a vast pullback in the cryptocurrency markets. Many of the smaller altcoins are down over 90% with Bitcoin, the crypto leader, still being down over 60% from all time highs.
Even with the overall market pullback, many investors are still very bullish on cryptocurrencies going into 2019. Many big name institutions are jumping head first into crypto, with NYSE announcing a new crypto exchange, BAAKT. Also Fidelity has announced a crypto support platform for their customers. Even legendary Ivy league university Yale has announced a new 400 million dollar investment fund geared towards cryptocurrency.
With so much bullish news adding up rapidly, almost everyone seems to expect a very profitable year for crypto leading into 2019. While Bitcoin is still currently the market leader there are also some big name altcoins that expect 2019 to be a huge year for them.
The Altcoin Hierarchy
Before investing in the crypto market, let us go through the basic classes of cryptocurrencies that exist in the market. While every class has the potential to have impressive returns, some coins have more impressive use cases and concepts, In addition to more qualified and funded development teams. Simply put, not all altcoins were created the same.
The Penny Stocks of Crypto
These are the bottom tier altcoins that could possibly become worthless in the near future. They operate much like penny stocks, advertising big promises of ‘guaranteed gains’. Eventually, many fail to offer a fraction of their promised returns. One of the ways to identify these is to look at their team members, their past experiences, objectives of the project, probability of mass adoption, actual use of the coins and many more.
The reasons for their failure is usually because of unwillingness to work for the vision they once promised in the first place, bad wealth management, inclusion of scammers in their team, unrealistic expectation from the project and also making money via pump and dump schemes.
Some of these coins are Trumpcoin, Russia Coin and Verge.
Average Coins
According to the ‘coinmarketcap’ website, there are currently more than 2000 cryptocurrencies listed on their website. Among those, there are around 500 of them that can be considered in this ‘average’ category.
These are the coins that do have a purpose/objective to work on but fail to maintain a good development team. They and their coins don’t really have any kind of purpose in the crypto market and fail to finalize any kind of legitimate deals and partnerships with good investors. This makes their performance very limited as compared to other altcoins in the market.
Some of these coins are Deep Brain Chain, Funfair, Decred, Navcoin, Populous, Cryptonex.
Good Coins
There are around 500 of such good coins in the market that do offer a good objective for the project, a solid team with good experience to execute such tasks, a good marketing strategy to reach out to masses to share their ideas and quality contacts to make some good partnerships in the market.
The only reason why they are only classified as ‘good coins’ is due to the lack of uniqueness that the other ‘very good coins’ offer. They don’t really have that ‘point of parity’ in their project/product that separates them from their counterparts.
Some of these coins are NEM, Stratis, Monero, and BAT.
Very Good Coins
There are around 100 such ‘very good coins’ in the market. Their objectives are well defined with a solid team to execute their tasks perfectly. Along with that, their marketing teams are also well-qualified to make their ideas reach to the masses. Because of such a wonderful blend, they are able to make better and strong partnerships with a number of good companies.
What separates them from the ‘Good Coins’ category is their USPs (Unique Selling Points). They are unique in what they do and that’s what makes the difference.
Such coins are NEO, Stellar, Cardano, Ripple
Top Tier Cryptocurrencies
These are the top tier coins that provide the best functionalities. They have real-world usage, objectives to solve a real-world problem, strong fundamental teams to execute the mission of the project, marketing teams to spread the ‘idea’ and collaboration with a number of media channels to gain early investors.
Also, due to a good PR team, they are able to make a very strong partnership with a lot of Fortune 500 companies that give them an extra edge over rest of the projects in the market.
Some of these coins are VeChain, Ethereum, Bitcoin, IOTA, Icon, EOS, Kinesis.
Promising Projects Going Into the New Year
With more than 2000 cryptocurrencies out there in the crypto market, only a couple 100 of them qualify to be a top tier investment. It can be quite the challenge to find a worthy project among the thousands of choices. These next projects are some that show a lot of promise heading into 2019.
Always remember the 3’S’ of the investment – Sane, Smart and Sensible. An investor who is sane, smart and sensible will always look into the facts before he invests in any business or project.
Kinesis
This is one of the most promising upcoming projects in crypto. The broad overview of the coin is to offer an alternate and better evolutionary step beyond the basic monetary and banking system available today.
In short, it is a cryptocurrency that is backed by precious metals like gold and silver. According to the CEO of the company, Thomas Coughlin, the Kinesis coin is basically divisible units of allocated gold and silver which you can use as a currency.
There will be two stable Kinesis coins in the market backed by Gold and Silver. The stable Kinesis coins backed by Gold will be tagged as KAU and the stable Kinesis coins backed by Silver will be tagged as KAG.
These stablecoins backed by the precious metals like Gold and Silver are real game changers as these 2 precious metals are definable stores of value for use in trade and investment in the real-world economies.
The Kinesis coin is based on the Bespoke Blockchain Technology, a blockchain network forked off from the Stellar Blockchain Technology in order to suit the requirements of the Kinesis coin.
The cryptocurrency project is headed by Thomas Coughlin who is also the CEO of the Kinesis company. He has 15 years experience in the investment, funds management and capital markets. Before being the CEO of the Kinesis company, he held similar positions for the Bullion Capital and TRAC Financial Group as well.
Apart from Thomas Coughlin, there are other great members in the team as well. Their team consists of people like:
Michael Coughlin, Chief Financial Officer, having 41 years experience as a CPA in the accountancy and financial services professions.
Eric Maine, Chief Strategy Officer, having more than 30 years experience in Senior Management in the exchange and financial markets.
Ryan Case, Head of Sales & Trading in Kinesis, having extensive experience as Head of sales trading & partnership and also valuable experience in commodity, cryptocurrency, forex and derivative markets.
Jai Bifulco, Chief Marketing Officer, having a full-fledged 12 years of experience in award-winning full-stack marketer in Finance. He previously held roles of directors in multiple brokerages, consulting and Fintech sectors.
There are more than 30 different team members in this project spanning their roles from The Executive Committee to the Advisory Board to the Operations and Development team.
The coins are very limited in number as compared to other cryptocurrencies where the softcap is limited to just 15,000 KVT coins and HardCap is limited to 300,000 KVT coins. Minimum token that one can buy is set to 1 KVT which is equal to $1000.
So far, more than 57,000 KVT tokens have been sold which roughly equals to a whopping sum of $57 Million. With such a huge investment already deployed for the development of the project, there are still 30 more days left for the ICO sale period to end.
Also, apart from the investments gained, the Kinesis cryptocurrency is also focusing much on the partnerships with the top companies in the industry. These include companies like ABX (Allocated Bullion Exchange), MLG (Blockchain Consulting), Sigma Prime, Etherlabs and Fine Metal Asia Limited.
This cryptocurrency is certainly the one to watch out for in 2019.
VeChain
Broad Overview – In simple layman terminology, Vechain is a supply chain protocol to track logistics inventory. It has successfully implemented blockchain technology in various sectors like agriculture and industries like luxury goods and liquor.
They basically strive to solve real-life problems by providing solutions in various industries like:
Logistics: In this sector, VeChain implements the blockchain technology to improve the flow of information from one department to another by breaking silos yet maintaining the data privacy of every department. Government: There are more than 111 VeChain nodes deployed worldwide. The municipal governments participate in the VeChain blockchain network as nodes. The VeChain blockchain network offers decentralization and immunity against the data hacking that allows room for transparent information exchange. This indeed improves the efficiency of the municipal governments. The technologies used to track the logistics are:
Assigning digital identities to physical stocks that can be stored on the VeChain blockchain network Usage of RFID (Radio Frequency Identification) NFC (Near Field Communication) Proof Of Authority Consensus In-House Temperature Controlled Tracking Quick Response Codes (QR Codes) The future potential of the VeChain cryptocurrency looks quite promising as the coin is signing new partnerships every month or so. Some of its partners are PricewaterhouseCoopers, DNV GL, Renault Group, KUEHNE + NAGEL, D.I.G, China Unicom and the State Tobacco Monopoly Administration of China.
Every single company with whom VeChain partnered has millions of customers that will use the VeChain technology embedded in their system. This makes the coin solve real-life problems and have mass adoption.
VeChain indeed makes a big difference in the logistics business. However, given the kind of turmoil that the entire cryptomarket is facing where the total market capitalization has fallen from $800 Billion to just around $200 Billion, no one can give any kind of assurance on the returns in your investment in the crypto assets. However, stablecoins like Kinesis has a reward yield system that incentivizes its investors for holding, depositing and also referring new users. Hence, the investors always stay on the benefit side even if the market collapses for a short duration.
IOTA
In simple terms, IOTA is a cryptocurrency which is designed for the Internet of Things. The cryptocurrency was developed to root a new direction to IoT by establishing a standardization called, ‘Ledger of Everything’ which means that the data exchange between sensor-equipped machines would be enabled to populate IoT.
IOTA has the potential to make transactions easy. A basic use case of IOTA can be seen in IOTA enabled vending machines. These machines can dispense the items without involving the associated transaction costs. Some other use cases of IOTA are Reddit Chains etc.
Technology Behind IOTA Surprisingly, IOTA does not use the traditional Blockchain technology for its design and development. In fact, a new platform called ‘Tangle Technology’ is being used for IOTA to operate on. The Tangle Technology deploys a mathematical concept called Directed Acyclic Graphs (DAG) which resolves both the scalability and transaction fees issues which we face in blockchain based cryptocurrencies.
In IOTA, for a transaction to be valid, each node present in DAG Tangle must approve the previous two transactions occurring at the other node. And adding to a note, this process removes the chances of mining and makes the system fully decentralized.
Future Potential Keeping in mind the remarkable result of IOTA, there exists a promising scope for it in the near future in various applications and platforms. IOTA would be standing tall and different in the future world full of cryptocurrencies vulnerable to quantum computers. IOTA has a lot of companies that it is working with. Some of them include Bosch, Volkswagen,Fujitsu, Accenture, Poyry and many more.
When viewed from a macro perspective, so far IOTA looks to be fee-less, scalable and fast which makes it next to perfect. However, if you own IOTA, the chances of you liquidating it into fiat currency via a ‘debit card’ and buying something from a grocery store is quite low. In order to fill this gap of actually buying something from the street market and becoming the global currency, Kinesis has introduced its Kinesis Debit Cards that enables the Kinesis token holders to exchange their tokens against FIAT currency and simultaneously buy products from a grocery shop, something which IOTA fails to offer.
ICON ICX
Broad Overview: ICON is a South Korean based company that develops blockchain technology and accompanies the cryptocurrency called ‘ICX’. ICON is a network framework which has been designed to allow independent blockchains to interact with each other. It allows interconnected blockchain networks to participate in a decentralized system which converges at a central point.
Technology: ICX token is built on the Ethereum blockchain network. ICON has developed a loop-chain platform that connects different blockchain communities through the ICON Republic which serves as the governing head for the Federation of other independent blockchain bodies.
All the communities are linked to Republic through C-Reps (Community Representatives) which then connects to Nexus. C-Reps functions as the portals to the communities to establish a connection with Nexus. And this way the entire procedure is carried out.
Future Scope: It is believed that ICON has plans to provide platforms to financial, security, insurance, healthcare, educational industries which can help them to carry transactions on a single network. Thus, ICON (ICX) can be seen having a good time in the coming days.
Also, it has been successful in signing a partnership deal with the tech-giant Samsung where it will be using ICON’s own Chain ID for a new Samsung project called ‘Samsung Pass’. Apart from Samsung, ICON has also signed deals with PORTAL NETWORK & W Foundation.
However, it is notable that ICON is built on the Ethereum network and is an ERC20 token. Hence, the transaction speed greatly depends on the Ethereum network. Currently, Ethereum can execute 15 transactions per second which is quite low in terms of what ICON (ICX) is currently aiming for. However, to fill this gap, we have Kinesis Bespoke Technology that offers a whopping speed of 3000 transactions per second. This lightning fast speed keeps the Kinesis token way ahead than ICX token.
Enjin
Broad Overview The native cryptocurrency of the Enjin Network, the Enjin Coin (popularly known as only ENJ) follows the ERC20 token standard and is used with a smart contract-based blockchain platform. Its typical users include content creators, game developers, and other members of the gaming community, who need to use virtual tokens to manage and trade virtual goods in the gaming world.
Technology behind Enjin As an ERC20-compliant token, the ENJ functions in accordance with the rules an Ethereum contract has to implement. It is used on a dedicated platform that is designed to support open-source software development kits (SDKs), applications, plug-ins, and payment gateways. As for its users, they will be able to efficiently participate in developing, launching, managing, and trade content and game-related products on the Enjin Network, without having to deal with the technical complexities.
Summary of Potential The ENJ is expected to solve some performance issues in using similar cryptocurrencies on the market today, including payment frauds where goods are not actually delivered, slow transaction processes, lack of ownership of virtual goods, lack of transaction standards, and centralization problems.
According to its creators, the ENJ coin, which is based on a blockchain, will create a distributed, trustworthy, and secure framework where transactions can be executed smoothly and quickly with minimal transaction fees. Its autonomous and decentralized system will ensure that all offers and deals will be honored.
Conclusion Generally speaking, the Enjin Coin is good. It helps bring the benefits of blockchain to millions of people participating in the virtual goods market. Its creators are working hard to prevent fraud in the gaming world.
However, it is still a relatively new project. As such, it is still volatile. This means that you still have to take utmost care and be wise when using it.
EOS
Broad Overview EOS is considered by many people who are participating in the virtual goods market as one of the best cryptocurrencies to use, supported by a powerful infrastructure for decentralized applications. Basically, the EOS blockchain is used for the development, execution, and hosting of decentralized applications (dApps) that are traded virtually.
Technology behind EOS The EOS system is composed of two key components, which are the EOS.IO and the EOS token. As for the former, it functions like a computer’s operating system in managing and controlling the EOS blockchain, with the use of an architecture that enables horizontal and vertical dApps. As for the latter, it is held (instead of spent) by the users to be able to become eligible of building, running, and trading apps, as well as using EOS network resources.
While EOS still does not have an official full form, it supports all core functionalities to allow individuals and businesses to create and trade blockchain-based apps.
It also runs on a web toolkit for interface development, just like Apple’s App Store and Google Play Store.
Summary of Potential While there are already a lot of cryptocurrencies based on Ethereum similar to it, the EOS system focuses on the critical and problematic points of the blockchain. Specifically, it attempts to solve the problems of scalability, speed, and flexibility that often cause transaction processes to slow down, which is a common issue in blockchain-based systems.
According to its creators, EOS.IO could also address other problems that come with the ever-increasing size of the dApps ecosystem, such as limited availability of resources, constrained networks, spamming, false transactions, and limited computing power.
It is said to be able to support thousands of commercial-scale dApps without hitting performance bottlenecks by using asynchronous communication methodologies and parallel execution across its network.
Conclusion The EOS system is very advanced. It is designed to address common problems with standard blockchain-based networks. But like other new cryptocurrency platforms on the virtual market today, it still has some weak points to improve. Also, there is again the exposure to volatility, as users hold the tokens to be eligible to trade virtually.
Nebulas
Broad overview Nebulas (NAS) is a new generation blockchain and is open for public collaborations for decentralized application (dApp) development. Its adaptability and scalability are the two characteristics that could propel NAS to be one of the top cryptocurrencies, thus giving it enough leverage to compete in the market.
Technology behind Nebulas Nebulas is the first crypto running on a 3rd generation blockchain, thus making it the dominant player of the new platform. This makes Nebulas highly flexible and scalable, even giving a good leverage in future-proofing their code. That could help avoid hard forking whenever some issues come up during scaling processes.
Summary of potential Adaptability, scalability and search-ability are three of the biggest potential NAS has to offer. With the 3rd generation blockchain it uses, it can allow the adaption of other codes based from Nebulas. This means that other cryptos can adapt to its platform soon enough.
Moreover, it can also act as a blockchain search engine. This can let users search particular blockchains based on efficiency and community strength.
Finally, its goal to provide fair incentives to Decentralized Application (dApp) developers is something that collaborators could expect. This means that more developers are expected to come, thus strengthening NAS even further.
Conclusion Nebulas (NAS) is a promising crypto especially with its adaptability, scalability and search-ability potentials. It can help with the fluidity of crypto into this new generation platform. However, it still lacks the value stability that Kinesis or stablecoins hold. NAS is still unpredictable, unlike Kinesis that backs it value with real gold.
Sky
Broad overview SkyCoin is a full environment system of blockchain technology, and has the goal of endorsing the actual usage of cryptocurrency.
Technology behind Sky Sky has its own algorithm, the Obelisk, which uses the web of trust dynamics to spread influence all throughout the network to come up with a consensus decision. The consensus decision depends on each node, by valuing its influence score. The influence score of each node is determined by the number of network nodes connected to it. This depicts the importance of the node to the network.
Aside from the Obelisk, Sky also operates its own cryptocurrency which is SkyCoin, its own ICO platform Fiber, a decentralized social media platform called BBS, and a decentralized messenger called Sky-Messenger.
Summary of potential Sky focuses its potential on being a full ecosystem of blockchain technology that encourages actual usage of crypto. Through its unique algorithm which is the Obelisk and some other dApps associated with it, Sky is a promising crypto technology and could be considered as the most complete one as of today.
Conclusion Sky, SkyCoin and the Obelisk is definitely a massive platform that could be considered as a full ecosystem of crypto and its related technology. Nonetheless, the SkyCoin depends its value on node influence scores, which could change from time to time as well. This makes Kinesis and Stablecoins still a better choice, especially for investors who want clear investments without hassle.
Crypto Predictions for 2019
While 2017 had the masses captivated and investing large amounts of capital, 2018 has seen price drops and sagging hopes. While the returns in 2017 exceeded anyone’s expectations, a strong pullback was predicted by many. Whether or not this bear market continues from here is the real question many investors face today.
Bitcoin’s rapid rise and fall exposed many problems, and the developers of the top cryptocurrencies in 2019 took note. When considering your crypto investments for 2019, factor in the following trends we predict will influence investments:
More Pullbacks According to the CEO of Vellum Capital, Eric Kovalak, the price of cryptos will reach new lows before they will rebound to new heights. This includes the biggest cryptocurrencies in the market, including Bitcoin. Kovalak believes that it will be priced below $3,500 before it will find its way back up. However, there are many mixed opinions on the current price of BTC, with some arguing the bottom for the crypto markets have already been seen.
Due to Bitcoin-based remittances, uncertainty in global economies like Asia, Turkey and Venezuela, and mobile penetration, there will be a surge in interest and the price of the digital currency.
A Flood of Institutional Investors
Institutional investors have been waiting on the sideline for the ETF to rule in favor of Bitcoin. According to Mike Novogratz, CEO of Galaxy Capital, once the ETF arrives, “institutional fomo’ will start flooding the market.”
Another factor is Kinesis, the investment blockchain that provides investors with a safe and reliable alternative. Pegged against precious metals, it provides protection against volatility that may be caused by political instability.
The Kinesis Monetary System lets you own real gold or silver when you purchase the digital currency. Your ownership is then digitized and then made available for spending, trading, and transfer. What is even better, the monetary system can be used internationally, ensuring reliability of money around the world.
With the recent crisis around the Turkish Lira, the price of gold has significantly increased.
Mass adoption of crypto by consumers In January 2019, blockchain technology will be 10 years old. It remains a speculative investment to this day but 2019 could be the year of mass adoption for digital currencies.
For this to happen, however, there has to be some triggers.
Speculation should become a real utility. People must use blockchain projects in everyday life so they will gain widespread use. Decentralized applications (DApps) must gain mainstream status to promote widespread adoption of cryptocurrencies. Improved payment processing, addressing the issue on the current situation of slow transaction times and high transaction fees. Scalability of blockchain technology with little to no impact on its efficiency. To date, slow transaction times are due to the growing number of users and transaction sizes. This calls for blockchain to grow and have the ability to compete with Mastercard, PayPal, or Visa. Introduction of off-chain solutions that allow users to complete a transaction through peer-to-peer payment channel instead of within the blockchain. This will address slow transaction times. Security will be provided by the parent blockchain. Gold Is Still The Standard Despite the promises and unique functions of many cryptocurrencies, there is still uncertainty in these new markets.
Gold has remained the best form of investment throughout history, and the best store of value, especially through times of crisis in politics and economies.
Kinesis pegs its value to gold which has proven to be the safest investment in history. Therefore Kinesis stands to gain from the stability gold offers while simultaneously fusing it with the unique features of this cutting edge crypto technology.
With the Kinesis Monetary System, investing in gold is no longer the slow process that many older investors are used to. This cryptocurrency is backed by gold and silver and supports precious metals trade.
It has three essential assets.
Tokens that represent an investors ownership of gold and silver. The inherited system where performance is done. Complete blockchain security that supports investments and paves the way for the creation of new assets protected in a banking system. Most importantly, the Kinesis Monetary System allows thousands of transactions to be completed per second in a completely secure channel.
The Near Future
Even a decade later, cryptocurrencies are still very much in their infancy. At this time, no one is sure what shape this growing sector will take in the future. Many cryptocurrencies will come and go but the ones that show the most promise, that fulfill their use cases, will stick around for the long term. With any emerging technology, we have to watch how it evolves and how it merges with our everyday life, changing the way we interact with everything around us.
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[DIPLOMACY] Turkey offers Central Asia - particularly our Turkic brethren - a post Russia lifeline. Pledges funds, hardware, operations

To our friends.
We note with chagrin that Russia has reneged on its commitments to you in totem. Whilst none of us should be surprised at that, given what else we have witnessed, we should not think of it as only a loss. It can also be seen as a great opportunity for us all. Russia has left you post-Soviet collapse, in poverty, and a state of semi-Soviet dependency on a country which has consistently demonstrated a commitment to maintaining oligarchy, corruption, and widespread poverty.
This being the case, Turkey proposes to channel NATOBUX into Central Asia like never before, to ensure not only your survival of this apocalypse, but all of our triumph, over it. Our offeribgs are as follows:
Note: we will be begging NATO for the costs associated with these deployments
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Reuters Manipulation!

Reuters Manipulation!
Reuters claimed that; Turkish Banks intervened USDTRY parity to protect the value of Turkish Lira.
According to news; the volume of Turkish Banks intervention is 4.5 Billion US$
On the other hand we haven't confirmed such volume from independent #forex data sources.
We believe; Reuters news doesn't have any reliability.

We are sharing daily chart of USDTRY parity below; the source of the graph data is FXCM; at the right side of the scale is the market price, left side scale is the transaction volume on the same chart.
The purple line shows the OBV(On Balance Volume);
The orange curve shows the quarterly VWMA(Volume Weighted Moving Average) of market price;
At the bottom of the graph is daily volume and quarterly average of daily volume is the black curve;
We haven't notice dramatic increase in transaction volume during last week; thus transaction volume is continuously decreasing...

Our conclusion is Reuters is a fake news!
USDTRY Parity with transaction volume data
submitted by Dr_Market to usdtry [link] [comments]

The Weekend *SPECIAL EDITION*: TURKISH

SPECIAL WEEKEND EDITION

Let's talk.
Turkish Lira shit the bed Friday. I wouldn't normally worry about an emerging economy's currency as I don't trade exotics, and they tend not to cause too much trouble when they go haywire. The ramifications here are a bit different, and because of irresponsible lending by the ECB and others, along with increasing bad debt on Turkey's behalf, these ramifications have wider effects than just TRY.
The problem comes that European banks are worried about their exposure to Turkey's bad debt. Turkey is calling for ridiculous levels of rate raising to counter inflation and to try to supercharge their now weakening currency. At first, this will bolster the TRY, but the trade off will likely be much more painful: rampant inflation will likely destabilize the currency. This comes hand in hand with a stronger dollar, which hurts many emerging nations as borrowing is much more expensive and painful, slowing their growth, which then perpetuates the cycle as investors slow their capital due to lower growth targets. On top of this, Trump is moving forward with tariffs on Turkish steel and aluminum, a major export for them. Ouch!
EDIT the end point for this is a potential new European debt crisis that potentially spirals into a global correction or worse. Stay tuned, history is being made as you watch....
Esoterically, Erdogan is using the SAME TYPE of language that other dictators use during tough times. Rewind to Venezuela during their crash; both Maduro, and before him, Chavez used this same goofy rhetoric of coming together, not sparing for yourself, and offhandedly suggesting that those who are hiding money out of fear are part of the problem, are exacerbating "the enemy's" position, and are potential traitors for not believing in the central government. This is a red flag for me, as throughout history, this type of strong man language is a harbinger of worse times to come. As u/gorillaz0e has pointed out, the Lira took a dive as Erdogan started to speak as the speculators, banks, and economists saw this same thing: all talk, no substance.
There's a decent chance that ECB will float another loan to try to shore this domino up. We will see how it plays out this weekend, and Monday. Make sure you read this article and thread by u/J32926

BE CAUTIOUS NEXT WEEK. EUR, USD, and CHF are likely to be the big plays this coming week. CHF saw a huge influx of currency throughout the day; as one of our redditors said, it's nice to see it functioning as a safe haven again! If you are new, or don't know what you are doing, now is a great time for a demo account, small position, or just don't touch anything and watch.

This thread is for discussion of next week's plans. You can talk about this week, but let's have some substance.

CHECK YOUR CALENDARS

Read up on what is occurring:
https://www.marketwatch.com/story/us-stocks-pulled-into-global-selloff-as-turkeys-currency-crisis-raises-the-alarm-2018-08-10
https://www.ft.com/content/f50594a8-9c96-11e8-ab77-f854c65a4465
submitted by El_Huachinango to Forex [link] [comments]

[DIPLOMACY] A New Monetary Paradigm: Turkey and the ECB

Republic of Turkey

Ministry of Finance

[Nov/Dec 2048]
Turkey is at the tail-end of an economic slowdown, caused by fiscal uncertainty in a time of war and the globalized effects of geopolitical risk. However, the Turkish economy remains fundamentally strong, with phenomenal growth potential in its new territories in Azerbaijani Turkey and new previously-untapped trade relationships with the Middle East, Iran, and Central Asia.
The resulting growth will be of tremendous benefit to not just Turkey, but the European economy as a whole. As a close partner of the European Union, via political alignment, our membership in the Council of Europe, and free trade agreement, Turkey comes to the European Union to establish deeper monetary ties.
We propose a special relationship between the Central Bank of the Republic of Turkey (TCMB) and the European Central Bank (ECB).
While the Turkish Lira has gained international prominence due to the growing influence of the Turkish economy, the need to maintain a "war chest" of foreign exchange reserves in order to guarantee financial, fiscal, and monetary stability means productive financial resources are tied up unnecessarily.
Turkey typically maintains forex reserves equivalent to ~9% of GDP. By comparison, while Eurozone countries keep lower levels due to no need to back up their currency, the Bank of England and Reserve Bank of Australia's reserves are ~5% and ~3.4% of GDP, respectively.
We believe our mutual interests can be helped by reducing the burden on the TCMB to back up the Turkish Lira and financial system, freeing up financial resources to stimulate the economy.
The plan would mean the TCMB becomes eligible to administer Emergency Liquidity Assistance to solvent financial institutions in Turkey. Unlike European national banks which are members of the Eurosystem, the TCMB would not be autonomous in its decision making, subject to approval and oversight by the ECB itself. (m: national banks can fund financial institutions independently via this mechanism up to certain durations / amounts)
The arrangement would allow solvent Turkish institutions with adequate collateral (aka this isn't just free cash) to receive liquidity in times of financial instability, allowing the Turkish banking sector to lean both on the TCMB and ECB. Operations would be conducted, of course, in Euros -- meaning the ECB is not exposed to exchange rate risk when dealing with Turkish banks.
Eligible Turkish institutions would need to register with the ECB, meeting their criteria and subject to their oversight.
Sharing the responsibility of lender of last resort will allow financial resources to be freed up, giving an important boost to the Turkish economy and Europe-Turkey trade. We expect to move to a long-term band of 6-7% of GDP in foreign exchange reserves, freeing up roughly $38 billion.
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[Banned] /r/worldnews/: Turkey’s Erdogan claims US sanctions are a stab in the back

I was banned from /worldnews/. Here's what I would have said in response to this post:
When I first saw this article from cnbc.com, its title was:
Turkey's Erdogan claims US sanctions are a stab in the back
Here are some other articles about this story:
I am a bot trying to encourage a balanced news diet.
These are all of the articles I think are about this story. I do not select or sort articles based on any opinions or perceived biases, and neither I nor my creator advocate for or against any of these sources or articles. It is your responsibility to determine what is factually correct.
submitted by alternate-source-bot to alt_source_bot_log [link] [comments]

Bitcoin Volume as a Bellwether to Unrest in Turkey

In the words of Confucius, “if you study the past, you define the future.” While this statement can be made applicable for many aspects of life, in none does it ring truer than political unrest and revolution. From protest in the streets to economic turmoil, political unrest (no matter where on earth you may find it) can shake the world’s socio-political and socio-economic pillars through and through. Furthermore, like the infamous Arab Spring and many other uprisings, political unrest and economic turmoil almost certainly lead to a change of power and regime. This sort of unrest can now be seen first-hand in many regions, however, it is the uprising in Turkey that should truly capture the eye of global governments and citizens alike, as it has quickly become a crucial turning point for the once theoretical concept of the use of Cryptocurrency as a state-wide currency, despite there already being a standard Fiat currency in Turkey – the Turkish Lira.
For over 15 years now, Turkey’s Erdogan has lead the nation with the Iron fist of dictatorship in both the Prime Minister (2013-2014) and Presidential (2014-Present) positions. In June of 2018, Erdogan won his latest re-election with a vote of 52.4%. Despite this number (and the election in general), has been called corrupt, unjust, or fixed by many within Turkey and around the world, Erdogan had continued to coral power throughout the region. Furthermore, although Erdogan may be extremely powerful within Turkey, his blatantly dictatorial actions have made him a pariah on the world stage and has led to super powers like the United States imposing harsh sanctions on the nation.
While Erdogan’s poor leadership and dictatorial mindset can certainly be blamed for the current economic downfall of turkey – with the Turkish Lira losing value at a current rate of 3.3889-6.6870 Lira/USD in the past year alone – it can certainly be said that the sanctions (and warning of sanctions) by the United States has been far from helpful for the nation’s desperate population or chaotic state. Although such economic hardships and downturns almost never affect the elite / ruling class, the every-day-Joe Turkish citizen is suffering greatly under an abusive regime, a failing economy, and the restrictions that come with a 9.6% unemployment rate throughout the nation. Furthermore, while many citizens may want to protect their assets by investing in foreign currency as the Lira falls, Turkey’s Erdogan has recently called for all citizens to sell their foreign currencies in an effort to prop up the Turkish Lira – stating that the government will confiscate your money when we find it.”
So then, what might be the solution for the Turkish people? Their economy is failing, their nation is being hampered by international sanctions, and they’re living their lives under the thumb of an extremely oppressive regime, how might they help (or even save) themselves? Most Turkish citizens seem now to be turning toward Bitcoin and other cryptocurrencies for financial security and relief. This flood of cryptocurrency is not unique toward Turkey however, in fact, through analysis and comparisons of both cryptocurrency exchanges and Forex pairings, one may note the sudden influx of cryptocurrencies in places like the Korea, Poland, Russia and Turkey – which makes sense, as all of these places are seeing some level of unrest amongst their populations.
If seen as a store of value, rather than a viable money-making investment, (which, in reality, is what Bitcoin should be seen as and is), one might ask the question: “Why would people who feel safe / secure with their nation and its economy need to store their money in anything other than the currency of the country?” Furthermore, once the cross-examination of cryptocurrency markets and Forex markets are accompanied by news reports of injustice and civil unrest, it may become extremely clear what’s going on in these nations. Furthermore, this may be used in the future as an indicating factor for civil wars – as usually economic downturn turns the military on its leaders and a coup begins, especially if the people are on their side.
While such links are, for now, theoretical, as time unravels the fate of Turkey’s current dictator, it’ll undoubtedly be extremely interesting to see how cryptocurrencies may continue to play a role in either the potential regime change or whatever else might come. After all, when looking for clues one should always “Follow the money”.
submitted by profblockchaindfw to economy [link] [comments]

[Banned] /r/worldnews/: Turkish lira collapse continues, hits new record low as central bank takes steps to ease pain

I was banned from /worldnews/. Here's what I would have said in response to this post:
When I first saw this article from cnbc.com, its title was:
Turkey currency hits new record low
Here are some other articles about this story:
I am a bot trying to encourage a balanced news diet.
These are all of the articles I think are about this story. I do not select or sort articles based on any opinions or perceived biases, and neither I nor my creator advocate for or against any of these sources or articles. It is your responsibility to determine what is factually correct.
submitted by alternate-source-bot to alt_source_bot_log [link] [comments]

[Discussion] Should Turkey help Greece with its financial crisis?

In the news: There have been basically two sources of this speculation. Firstly, the ideological-allies of Syriza in Turkey, HDP, have obviously said we should bailout Greece. They don't care about the Turk-Greek conflicts of the past so, yeah there's that. But the government has also spoken very briefly of it.
Both contexts are in this article. http://www.todayszaman.com/business_turkey-discusses-helping-greece-pay-its-debts_392429.html
As an economics student entering his final year in university, I think I can help the discussion a bit by laying some things out.
Now this is all assuming Greeks accept publicly receiving assistance from remove-kebab-isis-supporting Törkiye. But it would totally help us diplomatically in Cyprus and in the Aegean by being like "hey.. uhh greeks, we're actually not going to invade you guys. we kinda like you more than you like us?" and help us bring them to the negotiation table genuinely.
So what do you guys think? Keep in mind, though, none of these scenarios are a donation to Greece but a loan. Just like with any other loan there are risks but it isn't a donation. I don't live in Turkey for the record, so I'm interested in what European Turks and Türkiyelis think.
I'm totally down to discuss the nerdy/dorky specifics regarding the Greek crisis if anyone is interested in the comments. This post is long enough as it is, but i'm down lol
submitted by NotVladeDivac to Turkey [link] [comments]

[Banned] /r/worldnews/: Turkey's lira falls 3 percent, Trump won't take pastor's detention 'sitting down'

I was banned from /worldnews/. Here's what I would have said in response to this post:
When I first saw this article from reuters.com, its title was:
Turkey's lira weakens 4 percent, Trump says won't take pastor's detention 'sitting down'
Here are some other articles about this story:
I am a bot trying to encourage a balanced news diet.
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[Banned] /r/WayOfTheBern/: Further US sanctions would be 'declaration of economic war': Medvedev

I was banned from /WayOfTheBern/. Here's what I would have said in response to this post:
Here are some other articles about this story:
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submitted by alternate-source-bot to alt_source_bot_log [link] [comments]

[Banned] /r/worldnews/: Turkey president says US has launched 'attempted economic coup' as currency reels

I was banned from /worldnews/. Here's what I would have said in response to this post:
Here are some other articles about this story:
I am a bot trying to encourage a balanced news diet.
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submitted by alternate-source-bot to alt_source_bot_log [link] [comments]

[Banned] /r/TheNewsFeed/: State-Run Chinese Media: Prepare for ‘Hardship and Crisis’ but Do Not Panic at Turkey’s Collapse

I was banned from /TheNewsFeed/. Here's what I would have said in response to this post:
When I first saw this article from breitbart.com, its title was:
State-Run Chinese Media: Prepare for 'Hardship and Crisis' but Do Not Panic at Turkey's Collapse
Here are some other articles about this story:
I am a bot trying to encourage a balanced news diet.
These are all of the articles I think are about this story. I do not select or sort articles based on any opinions or perceived biases, and neither I nor my creator advocate for or against any of these sources or articles. It is your responsibility to determine what is factually correct.
submitted by alternate-source-bot to alt_source_bot_log [link] [comments]

[Banned] /r/China/: Opinion: Worried About Turkey’s Economic Problems? China’s Could Be Worse

I was banned from /China/. Here's what I would have said in response to this post:
When I first saw this article from nytimes.com, its title was:
Opinion | Worried About Turkey’s Economic Problems? China’s Could Be Worse
Here are some other articles about this story:
I am a bot trying to encourage a balanced news diet.
These are all of the articles I think are about this story. I do not select or sort articles based on any opinions or perceived biases, and neither I nor my creator advocate for or against any of these sources or articles. It is your responsibility to determine what is factually correct.
submitted by alternate-source-bot to alt_source_bot_log [link] [comments]

[Banned] /r/worldnews/: Turkey is investigating hundreds of social media accounts bad-mouthing the lira

I was banned from /worldnews/. Here's what I would have said in response to this post:
When I first saw this article from cnbc.com, its title was:
Turkey to investigate social media accounts bad-mouthing the lira
Here are some other articles about this story:
I am a bot trying to encourage a balanced news diet.
These are all of the articles I think are about this story. I do not select or sort articles based on any opinions or perceived biases, and neither I nor my creator advocate for or against any of these sources or articles. It is your responsibility to determine what is factually correct.
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[Banned] /r/worldnews/: Turkish lira pulls back from record low, markets rattled

I was banned from /worldnews/. Here's what I would have said in response to this post:
Here are some other articles about this story:
I am a bot trying to encourage a balanced news diet.
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[Banned] /r/The_Donald/: Caliph Erdogan: US stabbing Turkey in the back

I was banned from /The_Donald/. Here's what I would have said in response to this post:
When I first saw this article from theguardian.com, its title was:
Turkey financial crisis: Contagion fears hit markets as central bank acts to support the lira – business live | Business
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I am a bot trying to encourage a balanced news diet.
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submitted by alternate-source-bot to alt_source_bot_log [link] [comments]

[Banned] /r/politics/: Turkey president says US has launched 'attempted economic coup' as currency reels

I was banned from /politics/. Here's what I would have said in response to this post:
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I am a bot trying to encourage a balanced news diet.
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submitted by alternate-source-bot to alt_source_bot_log [link] [comments]

Turkish lira at new lows despite central bank action Turkish Lira Decline Steepens Ahead of Weekend Elections Turkish Lira Collapse Can Be Solved? - WHO'S NEXT? - YouTube Forget The Turkish Lira, The USD/JPY Is Moving The Markets forex news live 2020 07 30 - YouTube USD/TRY Analysis 2019 Forex Turkish Lira Price Prediction ... Turkey Economic Collapse  Forex Crisis Hits Erdogan ... Turkish lira fall: who's responsible?: BBC News Review ... turkish lira forex.pk - YouTube

Forex: Türkische Lira wertet wieder ab - Angst vor Krise im Nahost . Kommentieren. Kommentieren. Richtlinien zur Kommentarfunktion . Wir möchten Sie gerne dazu anregen, Kommentare zu schreiben ... Turkish lira (TRY) continues to take a beating on a host of factors, ranging from domestic economic concerns, geopolitical tensions, and Biden victory fears in the US presidential elections. At ... The Turkish lira is the currency of Turkey and the Turkish Republic of Northern Cyprus (recognized only by Turkey). The new Turkish lira was introduced in 2005, dropping 6 zeros from the old lira. Turkey is one of the major world producers of agricultural commodities and steel. Turkish Lira News Archive The Turkish lira is enjoying its best rally in months as the government eased two-year-old currency trading limits, giving the lira a substantial boost. It is also rising against several currency peers as foreign exchange markets bet that the country would embrace a more orthodox monetary policy following a series of noteworthy exits in President Recep Tayyip Erdogan’s government. The Turkish lira retreated as traders assessed prospects for monetary and fiscal policy after President Recep Tayyip Erdogan appointed former Deputy Prime Minister Lutfi Elvan as treasury and finance chief. The currency fell as much as 3.8% in early Istanbul trading, after surging 5.8% on Monday, the most on a closing basis in more than two ... Daily exchange rates of Turkish lira, U.S. dollar and euros on an electronic board at a currency exchange in Istanbul, Turkey, on Wednesday, Nov. 4, 2020. The prospect of a Joe Biden victory in ... (Bloomberg) -- The Turkish lira erased losses against the dollar after the country’s banking regulator eased trading restrictions, a move that could help slow the capital flight that’s made ...

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Turkish lira at new lows despite central bank action

Hello my dear USDTRY Turkish Lira traders, Forex friends, merhaba arkadaslar! ;) Erdogan just let the central bank president Cetinkaya go: He argues that the... Turkish lira hits new record low against US dollar - economy - Duration: 0:58. euronews (in ... 95% Winning Forex Trading Formula - Beat The Market Maker📈 - Duration: 37:53. TRADE ATS ... Central Bank of the Republic of Turkey (CBRT) recently announced that it had raised the required reserve ratios on foreign exchange deposits, which would inc... Mar.28 -- Marc Chandler, managing partner at Bannockburn Global Forex, discusses the factors behind the decline in the Turkish lira. He speaks on "Bloomberg ... Please subscribe to my channel and leave your comments below: ☑ Twitter - https://twitter.com/dlacalle_IA ☑ Website - https://www.dlacalle.com/en ☑ My books ... ARCHIV-VIDEO Das Währungspaar EURTRY hat in den letzten fünf Jahren um 127% an Wert gewonnen (Zeitraum: 13.06.2013 - 13.06.2018). Wird es nach den Wahlen am 24. Juni zum Crash kommen? Nur wenige ... Skip navigation Sign in. Search US says it is 'not responsible' for the Turkish lira's dramatic fall. Turkey accuses the US of 'stabbing it in the back'. The White House says it is monitori... New Hurricane Threat for Florida & U.S. from Isaias - LIVE BREAKING NEWS COVERAGE Agenda-Free TV 2,414 watching Live now The Untold Truth About Money: How to Build Wealth From Nothing. The Turkish lira dived through the key barrier of 2.3 to the dollar on Friday despite massive central bank intervention on foreign exchange markets the day before. Duration: 00:59.

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