Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Here’s an Abra update for you:
03/28/2018 Abra Update
u/RyanfromAbra
Hey guys,
I do not want to make a habit of making an announcement for announcements or anything like that. However, I do want to provide an update since we’ve been getting a lot of the same questions. One thing to note: we do not have transaction fees or any other kind of fees (except btc withdrawal mining fee), but we do have a spread of around 1% for currency exchanges. For more info: Abra.com/fees
We are starting to test synthetic currencies based on the Litecoin network in production beginning next week. There are a lot of factors between starting and using LTC on the backend almost exclusively, so it will be gradual. At the same time, we’ll be adding the remaining 7 cryptocurrencies to bring our total count to 20 cryptocurrencies. All of these except for Bitcoin will be synthetic, so you will not be able to deposit or withdraw them. We want to be explicitly clear here regarding that. Also, if I was unclear in my previous posts regarding the transition to LTC network on the backend, my apologies. It will be a gradual rollout.
Native LTC deposit and withdrawals are poised for late April 2018.
With respect to another common question of : Will Abra actually hold any LTC to back its smart contracts? Our answer is : Abra maintains appropriate controls and sufficient liquidity to facilitate on-going settlement of our users’ smart contract hedges.
The following only applies for users using a US bank account or AMEX card. We do have security protocols which will inevitably anger some. We do have KYC as well as all of the other required regulatory processes. We also have our in-house security protocols that will restrict users. Some are hard reject (permanent) and some are temporary upon submission of additional documents. We are unable to disclose the reasons for restricting users for security reasons. Basically, we do not want to help fraudulent activity learn our processes and “game” us. We understand good actors will be restricted, sometimes permanently, and we will be continually improving our protocols to drive false negatives down and build increasingly stringent protocols. Our banking partner also has their own security protocols as well, some of which we are unable to supersede. We are working on productizing it, as we know an email request with a link for uploading will make people question our policies or doubt the security of submitted information. The information uploaded is encrypted and stored securely. You are always welcome to verify that it is us before submission. We do not share or sell your information and we take user information and security seriously.
Abra was founded in the Silicon Valley and we have always stayed in the area. We do have a base in the Philippines, but we are not based out of the Philippines. I’m actually not sure where people are seeing that we are headquartered or operate solely out of the Philippines.
We still do not want to talk about “what happens to the LTC price” or any discussion of price. We will not be speculating on what will happen to the price of Litecoin or any of the other coins due to using the Litecoin network on the back end. Also, my disclaimer: I do customer operations, so I am unable to answer technical questions or hedging questions. Regarding hedging, it’s not my place to discuss it. There are several reasons for this, the way we do it is proprietary, I do not work alongside the hedging team, and I do not understand it to make public statements on it (as well as others).
We rolled out support via Telegram and Twitter. Twitter: https://twitter.com/Abra_Support Telegram: https://t.me/abra_support_bot
As always, I’m available for questions, comments, concerns, etc.
Thank you for taking the time to read!
-Ryan from Abra
I think 10% attention 2 years ago is much too high. Heck, not even 1% of the world has a bitcoin wallet yet. SMH. What you saw in the winter of 2017 is the Wall Street whales testing the scalability of Bitcoin’s blockchain. Besides slow transaction times and high fees, it passed with flying colors. Developers are hard at work implementing segwit and the lightening network which will improve speed and fees but it’s just a bandaid. Scalability will once again become an issue once segwit/LN limits get tested. This time the market cap will blow by last year’s ATH and we’ll have similar dissention amongst the bitcoin developer community on how to solve these new scalability problems. But that’s way down the line. Bottom line is Blockchain technology has proven it’s virtually unhackable (bitcoin’s blockchain has never been hacked. Specific wallets have been but the blockchain itself hasn’t), definitely immutable, and definitely scalable to a $325 billion market cap (bitcoin’s ATH estimate). Segwit/LN will allow greater scalability and faster speed to a point. How high can Bitcoin market cap go with Segwit/LN? We will definitely find out but I can promise you that this isn’t the final solution to scalability. What is? Maybe a new token or technology using Block-lattice technology (basically using trees and ending balances on the blockchain recorded on “trees” instead of every transaction ever made in the ledger recorded on the blockchain stored on a block). Will Bitcoin/Litecoin implement this emerging technology via a hard fork or will some other crypto (NANO) overtake Bitcoin with this better tech? Only time will tell but we are years away from finding out.
I’m by far the worst trader here. On the flip side, I by far have access to the most reliable, accurate crystal ball here. Probably have the most knowledge in this space too but I’m sure others are closing in fast on me.
Wasn’t bashing.
Fascinating. I have zero knowledge on bots. That’s clays forte
World’s 9th largest stock exchange just launched a crypto brokerage
https://news.bitcoin.com/toronto-stock-exchange-operator-launches-crypto-brokerage/
I’m probably the only HODLer here. I’m not naive and know that the majority here have been flipping like crazy this year except for the last couple of weeks. Very happy for everyone. I advocate trading during bear markets. I’ve said it before. When the bull comes in 49 days, don’t forget my words of wisdom. Store ur tokens properly and HODL
49 days is the start. Very exciting times we live in. Major changes in the world of finance on the horizon
In cryptoland, having an exchange that accepts fiat while trading 20+ different cryptos is awesome. Also, having a non-deterministic bitcoin wallet is amazing for an exchange. You hold your private keys, not some third-party like coinbase. You’re actually on the bitcoin blockchain unlike coinbase and their custodial wallets they provide their customers. You have to accept the fact your limits will be low at first but that’s the same with all crypto exchanges. There will be software glitches as well (I’ve yet to experience) but you need to keep in mind how young and new this space is. Everywhere is a work in process and Abra (just like coinbase) is no exception. Abra is an excellent option for someone who wants multiple exchanges to trade cryptos and you can feel safe storing your bitcoin on there because you hold your private keys to your wallet unlike coinbase.
Probably going lower but long term, people who are on the fence will be kicking themselves for not buying 6 months from now. Fairly certain retail is too scared to touch crypto right now.
Start an ABRA account. Move your money with ETH. Cheaper. Don’t lose focus on Litecoin though.
49
Open an account there. Fiat clears much faster than on Coinbase. Derivatives trading via Litecoin smart contracts is awesome
You’ll get all the confidence and conviction you need (and then some) come May 15. Til then, who knows. March has definitely been shitty.
You asked earlier what will trigger the bull run. I now believe it might be due to a drastic fall of the greenback.
If you have the fiat, yes. I’ve been buying ETH daily.
Trade during bear markets. HODL during bull markets.
Sick of this bear market like everyone else. Not much longer. I’ll update my countdown daily. Extremely confident.
Starting a countdown. 50 days away. Very confident
Yes. It will be a SPECTACULAR bull run all the way til early November. You’re welcome
Reaffirming next GREAT BULL RUN STARTS MAY 15.
Hence why privacy coins such as DASH, Monero, and Zcash will be ever so prevalent in the months and years to come. Regardless, Bitcoin isn’t going anywhere for awhile. Too strong brand recognition for this new space
Bitcoin girl
Binance moving to Malta and will be accepting fiat
Crystal ball says so.
Next summer? So we’re gonna trickle down to $50B total crypto market cap? Or we’re gonna be range bound between $250B-$500B for the next 15 months? Whatever you are hearing is wrong
Monster day
Does it really matter what “events” will kick off the bull run? Just like does it matter all this FUD occurring now during the bear run. It’s all just a show. Wall Street is loading up. Original big players selling to new big players. That’s all that’s occurring. Maybe it’ll be news of China legalizing bitcoin as legal tender? Maybe it’ll be a trump endorsement? Maybe it’ll be a huge retailer accepting cryptos? Who knows? What I do know is Blockchain technology is coming to everyday life and cryptos is the means to introduce this tech to the world. Transacting with Litecoin and using bitcoin as a store of value will be a major part of it.
Bought a shitload sub 500. Couldn’t believe my eyes
When there’s blood in the streets, buy crypto
Fib retrace is around 121 so it may get there. Appears today might be bottom. We’ll see. Anytime total crypto market cap drops below $300 billion, buy as quickly as possible imo. GL
Don’t take it personal. They have a job to do and they’re damn good at it. Frankly, 95%+ of this space is a scam and will crash and burn. The key is finding the real projects that have true potential and utilization. Even then, the projects could fail and you could lose it all. This is the wild, Wild West. You really do need to be careful. I own close to 20 different cryptos. I try to pick the ones that will be here when I’m not but I’m certain some I’ve chosen will fail and I’ll lose it all. If you haven’t already, watch that John Oliver piece on cryptocurrencies that I posted. Very educational, funny, and you’ll learn about EOS (#8 in market cap). Amazing. Glad I don’t own that one. It’s long but very good and well worth the time to watch it.
My criteria is as follows to owning a crypto is as follows:
1. Is it decentralized?
2. Is it open source?
3. Is it censorship resistant?
4. Is it borderless?
5. Is it immutable?
If the answer is yes to these, I’ll start researching more.
Crystal ball says next great bull run in cryptoland starts around May 15. You’re welcome.
Using a logarithmic non linear regression method, Bitcoin 100k in 2021
http://cryptolibrary.org/bitcoin-rate-forecast/
Guess Who is Leading the Blockchain Patents Race?
https://coingape.com/blockchain-patent-race/amp/?__twitter_impression=true
Derivative trading based on the Litecoin Blockchain. Yes. Yuge
This I did not know was coming. Litecoin smart contracts!?! Fascinating!
https://techcrunch.com/2018/03/15/abra-adds-twenty-cryptocurrencies-to-its-wallet-app/
Better educate yourself then
$1000-$2500 by halving. Peak will be about 30 days before halving. Take a look at Vertcoin’s chart. It had its halving in Dec 2017. Or Litecoin’s first halving Aug 2015. Similar projectory will occur leading up to halving. Considering the cut in supply, the increased awareness of Litecoin, Wall Street money continues coming in, and projected increased adaptation (Litepay, coinbase merchant), upper part of range is possible if everything goes according to plan or close to it. I suspect CBOE/CME options will get announced/start a little after halving as well that will “cause” a major pullback after the halving similar to what we’re experiencing now with Bitcoin and the rest of the crypto market. Last sentence speculation assuming Litecoin gets added to Gemini.
Litecoin down the least today. Just shows you how strong Litecoin is. In this extremely volatile, high risk, unregulated market, Litecoin by far the best risk/reward out there. So extremely confident in Litecoin’s future over the next 511 days
That’s gotta be it