LeTechs Forex Blog - Forex market structure / Hierarchy

[Econ] Making the Best of a Very Bad Thing

November 2030
Well, uh, this sucks. Just a few short months after the Arab States of the Gulf finally unified, the world economy decided to explode. This is what we in the business of economics call a very bad thing.
The effects across the FAS have been relatively disparate. The United Arab Emirates, easily the most diversified economy in the region, has been the least heavily impacted (though it's still bad). Diversification programs in Oman and Bahrain have also helped to stave off some of the worst impacts of the crisis, though they haven't been as successful in avoiding the effects as the UAE. Qatar and Kuwait, still almost entirely reliant on hydrocarbon exports, are not happy with this turn of events. Falling global oil prices, though propped up a little by a sudden increase in demand from China, have left their economies struggling much more than the rest of the country, and in desperate need of assistance from the better off parts of the country.
One major pain point in this crisis has been the FAS's economic ties to the United States. While most of the FAS's trade is with Asia, Africa, and Europe, the US financial system still plays a crucial role in the FAS. The stability of the US Dollar has long been used to protect the economies of the Gulf using their vast Forex reserves (earned from oil sales) to peg their currency to the US Dollar. With the US Dollar in complete collapse, the value of the Khaleeji is plummeting right along with it, causing a significant degree of harm to the FAS's economy.
To help offset this harm (and to decouple the FAS's economy from a country that the FAS is starting to view as maybe not the most reliable economic partner), the Central Bank in Dubai has announced that the Khaleeji will switch its peg from the US Dollar to a basket of foreign currencies (the Euro, the Pound Sterling, the Swiss Franc, the US Dollar, and the Japanese Yen). The FAS hopes that this will help to salvage the Khaleeji's value, better protecting the economy from the collapse of the dollar-based international financial system. Rumor has it that the Central Bank is discussing the idea of unpegging the Khaleeji entirely and allowing it to float freely, but so far, the Central Bank has made no moves towards floating the Khaleeji.
Crises suck. They shatter the status quo and throw established norms and procedures into chaos. No one really wins during a crisis.
But in another sense, they're a double-edged sword. The status quo is often a repressive entity, reinforcing existing hierarchies and preventing dramatic shifts in the order of things. Chaos breaks that apart, giving the ingenuitive and the entrepreneurial on opportunity to better their lot in ways they otherwise could not.
Put differently: chaos is a ladder, and the FAS intends to be the one climbing it. As the largest economy in the Arab World (and one of the world's 20 largest economies) by both nominal GDP and GDP per capita (by a significant margin--it's probably either Saudi Arabia or Egypt in second place in nominal GDP, and definitely Saudi Arabia in second place in GDP per capita, but the FAS more than doubles the country in second place in both categories, so it's sort of a moot point), the FAS hopes to cement its place as the regional economic power.
The FAS has announced a new slate of policies intended to attract rich investors, manufacturing firms, and financiers fleeing the new nationalization program of the United States. New free trade zones have been created throughout the country--especially in the struggling, undiversified regions of Kuwait and Qatar--with the goal of convincing fleeing American manufacturers to set up shop in these areas. Attractions include wildly low tax rates (as low as zero percent in some instances), a common law framework (as opposed to the Sharia-based legal system in most of the FAS), highly subsidized land prices (sometimes free), relaxed financial restrictions (making it easier to move money in and out of the FTZ), and, for large enough firms moving enough operations into the country, preferential visa treatment (making it easier for them to relocate foreign employees into the country). Sitting at one of the major crossroads of global trade, moving operations to the FAS offers easy access to both the world's established consumer markets (like the EU and East Asia) as well as to some of its largest growing markets (South and Southeast Asia, East Africa, and MENA). Pair this with wildly high standards of living (for people who aren't slaves Asian or African migrant workers) and established expatriate communities, and the FAS becomes an incredibly attractive option for American and other foreign firms looking to relocate.
In addition to manufacturing-oriented FTZs, special attention has been paid to attracting service-oriented firms to new and existing FTZs in the vein of Dubai Internet City, Dubai Design District, Dubai Knowledge Park, and Dubai Media City, with the goal of developing a robust service economy that can capture growing markets in the MENA, South Asia, and East African regions. In advertising these zones, the governments of the FAS have highlighted the success of previous ventures in Dubai, which have attracted the regional headquarters of giants like Facebook, Intel, LinkedIn, Google, Dell, Samsung, Microsoft, IBM, Tata Consultancy, and more.
Perhaps one of the most substantial pushes, though, is to attract American financial services and FinTech firms to base in the FAS (particularly Dubai, Kuwait City, Doha, and Abu Dhabi, the traditional centers of regional finance). New financial industry free trade zones have been set up in the four cities, structured in the vein of the Dubai International Financial Centre (DIFC). These financial FTZs boast an independent and internationally regulated regulatory and judicial system, a common law framework, and extremely low taxation rates. All government services in these regions are available in English (the lingua franca of international finance), and in events where ambiguity exists in the legal and regulatory systems, the systems are set to default to English Common Law (except for the Kuwait City International Financial Centre, which is hoping to better tailor itself towards American financial firms by defaulting to American Civil Law from pre-2020 rather than English Common Law). Much like in the DIFC, these new FTZs will also run their own courts, staffed in large part by top judicial talent from Common Law (or in the case of Kuwait City, American Civil Law) jurisdictions like Singapore, England, and (formerly) Hong Kong. Using these FTZ, the four cities hope to raise their profile as financial centers. Dubai in particular is hoping to break into the top ten global financial centers--and it stands a good chance of doing so, too, as it sits at number 12, just behind cities like LA, SF, and Shenzhen--while the other cities are just hoping to boost their profile into the 20s or 10s (according to Long Finance, Dubai is number 12 in the world and 1 in the region, Abu Dhabi is number 39 in the world and two in the region, Doha is number 48 in the world, and Kuwait City is number 91).
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11-04 14:33 - 'DIFFERENCE BETWEEN KRATSCOIN AND BITCOIN' (self.Bitcoin) by /u/xia112 removed from /r/Bitcoin within 3-13min

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• The indivisible minimum KRATSCOIN unit is 0.00001 instead of 0.00000001 to denominate realistic currency rates in FOREX. Denomination cannot be determined or dictated by the value of a currency. If KRATSCOIN is valued at USD10,000.00 then the smallest unit of KRATSCOIN at 0.00001 = USD0.10 and nothing smaller than USD0.10 in KRATSCOIN.
Example: If USD1.00 = THB30.00 and the smallest denomination of USD is USD0.10, then a USD0.10 which is THB3.00, is unable to buy a piece of candy at THB1.00. Thus the USD must be converted into a smaller currency of THB in order to buy the THB1.00 candy.
• KRATSCOIN is in-line with standard International Foreign Currency Exchange Practice at indivisible minimum unit 0.00001.
• Each KRATSCOIN is equipped with a 13 digit “SERIAL CODES AND NUMBERS” and there will be a total of 2,100,000,000,000 SERIAL CODES in total.
Example1: 1st KRATSCOIN = AKDJFYRS.00000 Example2: 1st Fraction from 1st KRATSCOIN = AKDJFYRS.00001 Example3: 2nd Fraction from 2nd KRATSCOIN = AKDJFYRS.00002 Example4: Last KRATSCOIN = DLXVZKWR.00000 Example5: 1st Fraction from Last KRATSCOIN = DLXVZKWR.00001 Example6: 2nd Fraction from Last KRATSCOIN = DLXVZKWR.00002
• In Year 2015, Silk Road in DeepWeb utilization of Bitcoin in their transactions amounts to USD1.2billion spanning over 950,000 users. One may argue that Bitcoin is most utilized by the black market, which then maintains its value and worth among other factors. However, the USD1.2bil a year over 950,000 users are far fetch from the Legitimate Users in comparison. Bitcoin transactions runs into USD40.0bil in recent Legitimate Crypto Exchanges. In summary, legitimate transaction of crypto currencies is many times larger use in illegal transactions.
DIFFERENCE BETWEEN FIAT AND CRYPTO:
• Fiat Currency is backed by Governments/Countries itself. What determines the value of a currency is the economic health, demand, growth, political stability to name a few, of the respective country. Before 1930, most fiat currencies were backed by gold and silver.
• Since 1971, U.S. citizens have been able to utilize Federal Reserve Notes as the only form of money that for the first time had no currency with any gold or silver backing. This is where you get the saying that U.S. dollars are backed by the “full faith and credit” of the U.S. Government - quoted in google.com.
• What backs crypto value is purely supply and demand. The demand creation of a crypto is its sole objective. To create demand, the crypto has to have a purpose. And most purpose commonly promoted is utility. The number of ways you can utilize the said crypto. The more utilization factors the more demand there is for it.
• There are other ways to substantiate value of a crypto and that is to back the crypto with a 1 to 1 ratio in assets or in USD. Then the question is, how 3,000 crypto currencies in circulation be monetary eco sustainable? Can anyone imagine walking into McDonald and view a chart of 3,000 different pricing? Which also means the crypto is a payment gateway pegging against USD instead of bearing any true characteristic of a currency.
• A country’s currency is in its own legit form of legal tender, the only currency acceptable under financial sovereigns of a country. People in the world must be made to understand that. Retailers in Thailand cannot put up products price tags in EUROS/USD, it is illegal. It has to be in Thai Baht.
• It is hardly imaginable for everyone in the world to retail with a Crypto-Currencies at a rate of 7 transactions per second. When mining nodes are reduced due to non-performing mining ratio, mining blocks in the Blockchain will significantly be limited too, rendering delays in transactions while usage increases.
• In time to come, as trends of crypto picks up, Thailand can issue BAHT COIN or UK the STERLING COIN, exactly what China wishes to do. Digital RMB, but would such crypto currencies be fully decentralized? We all have our answers. Absurd to even think of producing Thai Baht, Pound Sterling or Chinese Yuan at the cost of electricity. It is currencies in digital forms.
KRATSCOIN is not meant for that purpose. In some opinion, apart from utilization, a crypto can be for safekeeping, an entity for keeping money while allowing easy liquidation, at a click of a mobile button, not to mention sending or transferring without the trouble of going to banks, which was the original purpose of Bitcoin to begin with. Therefore, KRATSCOIN would be better termed as Crypto Commodity, sharing similarities as Metal Commodities.
An individual cannot use gold to make a purchase, neither can one eat gold. It can only be kept or invest in for appreciative value over time. Gold is being exampled for its scarcity which reasons for its higher value over its cousin, silver or bronze. Who or what determines the value of gold? Just like any other crypto, demand by humanity. As in all other commodities, it must also be placed in checks by governments. To put in checks, serial numbers are introduced to protect a country’s commodities outflows or illegal exports.
Humanity made Bitcoin a reality. Acceptance by the majority members of the public made Bitcoin to what is it today with the trust they entrusted it with, or is the majority public hopping on the band wagon to make a few quick extra bucks? Whatever the reasons are, the characteristics of Crypto Currencies are only matched by the behavior of Commodities.
SERIALIZED COINS - WHAT IT MEANS FOR THE PUBLIC: Every currency has its own remarkable name, design and colors. Dollars, Euros, Pound, Tugrik, Peso, Rupee, Rupiah, Dina, Ringgit, Baht and the list carries on. One thing every currency have in common - Serial Numbers.
In any crime, investigators will firstly establish motives and mode of operation, both of which are very likely related to money. So following the money trial is a natural thing to do for investigators/authorities and it has become a common practice. Crimes require funding ie robbers need money to buy guns to carry out its robbing activities. Cutting off financing will reduce criminal activities. That’s the approach governments of the WORLD have adopted for crime fighting.
Perhaps people do not realize this while most do not feel the pinch. Humanity tends to take life for granted until apocalypse happens. Take a minute to visualize the tallest tower in your homeland collapse into a pile of dust with thousands of casualties effecting everything else that comes to mind. Imagine a family member, just 1 is enough, is among those casualties.
• Imagine if monetary system is not in place and drug dealers, among many, roam the earth freely distributing what can be death threatening substance to your kids. What if you are mugged of your inheritance [items left to you by your father] that is beyond retrieval? As for crypto enthusiast, what if your wallet gets hacked as even the mighty Pentagon gets hacked. All the above can go away if the crypto system leaves a trail for hound dogs to sniff out. Money Trail or Serial Codes Trail to be exact.
• Citizens rely on governments and their countries to do what is best for them to lead their daily lives, flourish, advance, improve and strive but at the same time, citizens want to take away the single most important thing deemed crucial in the hierarchy of humanity from governments with additional boastful remarks such as “I transferred $400 million from one corner of the earth to another corner in a single transaction and no governments can do anything about it”.
• In-short, to boast unregulated financial movement is to arrogantly promote crime without realizing it while challenging the world’s monetary authority. Oldest advice in the book teaches us never to pick a fight we can’t win.
• Serial Coded Coins does not take away the financial movement freedom nor does it take away your privacy. It merely provides Authorities the necessary means needed for crime prevention and fighting. It only re-inforce security and safety. SERIALIZED COINS - WHAT IT MEANS FOR GOVERNMENTS: • Governments are relentlessly trying to find new ways to keep track of crypto transactions. Crypto Currency Exchanges, just like all other Financial Institutions and Banks, are required to practice the most stringent Know Your Customer (widely known as KYC) process. The KYC is designed to provide governing agencies and authorities with information pertaining to crypto ownerships.
• But no governments can have information on Peer-to-Peer (also known as P2P) transactions unless the government in question launch a full scale Federal Investigation on certain suspected individuals seeking Wallet Developers to unveil the ownership of certain wallet addresses. Do not forget, National and Global Security trumps Privacy Act. Refusal to co-operate under the pretext of Global or National Security will only result in an out-right ban, which is exactly what happened to Blackberry.
• Questions to Governments – What if Wallet Developers or Crypto Exchanges shuts down which can happen for various reasons be it foul-play, sinister or forcefully under threat? What if servers are damaged and ruined? An EMP strike or a simple magnet can make it happen. Information/identities of suspected customers of such addresses shall be lost forever and along with it the Money Trial.
• The most probable way of evading Authorities with crypto assets are developing an e-wallet for own illicit purpose. Since the cost of developing an e-wallet is relatively low in considerable cost to hiding, what can governments do to flush out these ants from the vast networks of tunnels?
• With Serialized Coded Crypto Assets, it doesn’t matter if servers of Exchanges or Wallets are destroyed. The Serial Codes of each token/coin enables governments of every participating country to track both origin and destination by identifying records of each token/coin in wallet address. It can disappear into a cold wallet but emerging some place later yet Authorities can still detail which particular token/coin has at one moment of time been into which wallet, on what day and date.
• If the battle of financial crimes can be resolved with a simple Serialize Coded Crypto Asset, the eradication of corruptions, money laundering, unlawful proceeds and terrorism financing will be made possible. Criminals can no longer exploit the genius creation of Sathoshi – Blockchain and Crypto-Currencies.
• Global Security, Anti-Terrorism Financing and Money Laundering could just be excuses granting government agencies the need to have access to financial information in the Monetary System. Nonetheless, it is in the interest of every nation that capital outflow is controlled. Capital Outflow is most frequent when the economy of a country is deteriorating. In the face of an economy meltdown, monetary flow is most needed and yet citizens tend to transfer monies further away illegally from their own country in an act of selfishness. This would not be tolerated by any country. Serial Coded Coin shall prove this attempt futile.
• In most part of Asian Countries, many crypto-currency mining operations are carried out illegally. The legality sits on thin fine line where Authorities can pin only stealing of electricity as a major concern to the respective country. Since most Power Companies belongs to the Country in one way or another, it is financially damaging to Power Producers and Utility Suppliers. Serial Codes can determine if the KRATSCOIN is mined legally or illegally making it difficult for miners or mining farms to mine crypto while avoiding making electricity payments. Will this deterrent disrupt the chain of KRATSCOIN supply? That’s not how Blockchain Tech works. TAXATIONS - WHAT IT MEANS FOR PUBLIC AND GOVERNMENTS: • Taxation cannot be imposed on “Illegal & Unlawful Proceeds” instead confiscation is enforced in many countries. Origins or proceeds of Serialized Coded Crypto Assets can be easily identified by the Serial Codes in-conjunction with the Blockchain. This exercise can evidently proof the legitimacy of the aforesaid token/coin. By “Illegal & Unlawful Proceeds” also refers to crypto coins obtained via illegal mining operations.
• Taxation on Crypto Assets are calculated on profits deriving from the sale/disposal of the crypto Assets. If we are small crypto believers, the amount of taxation rendered by Inland Revenue will be insignificant. Why risk Freedom of Life over Freedom of Small Monies. If we are big crypto believers, taxation on Serialized Coded Coins can be considered added security to your assets protection.
• By adopting Serialized Crypto Assets, declaration is made easily possible via proof of token/coin origin via the Blockchain. If the Authorities can know where our crypto assets come from, the Authorities will know where it will disappear to. It is taxation cum insurance in one tiny sum. This added security with freedom feature will encourage self-declarations of crypto assets to Authorities and Agencies. PRIVACY & ANONIMITY: • Many may be skeptical of their wealth being tracked and monitored. But in this era of technological advance society, everything we touches has our signature. Banks, iPhones, Samsung Mobiles, Google, Facebook, Whatsapp, WeChat, LINE, Viber, Facebook, Properties, Utilities. Almost everything. It is to this fact that there is a need for Privacy Protection Act.
• As explained before, Crypto Currency Exchange KYC procedures is designed to expose the identity of Crypto Assets ownership. The Blockchain is supposed to serve as a transparent information platform. The question of privacy over Serialized Coded Coins does not exist, it does not make Serialized Coded Coins ownership any less private.
• Ownership of wallet addresses shall always remain anonymous while the only way Authorities can get to it is through Wallet Developers by virtue of Global/National Security Threats or by a Court Order as per the Privacy Protection Act. SAFETY & SECURITY (CODED CRYPTO VS FIAT + COMMODITIES): • No human mind can memorize the millions of serial numbers printed on fiat currencies. The records of Serialized Coded Coins will forever be in the Blockchain embedded within each transaction from wallet to wallet.
• Serialized Commodities such as gold can be melted down. Diamonds recrafted. Fiat double printed. But not Serialized Coded Crypto Assets.
• Should an accessory system be added into the KRATSCOIN Blockchain, allowing reports on criminal activity be made within the Blockchain, notifying all ledgers of certain stolen Serial Coded Coins, enabling WARNINGS and forbidding next transaction of that particular Serial Coded Coin, wouldn’t this function enhance protection. A theft deterrent function which can never be achieved with physical gold, diamonds or fiat. KRATSCOIN SUMMARY: • Most crypto currencies have not reach a level of security alert for governments. This could be the only reason why a possible ban has not been discussed. China and India has begun efforts to control or ban crypto currencies in their quest to combat capital outflow, writer’s personal opinion. The EU has stopped Libra from implementation. “A company cannot be allowed Authoring Power for issuance of currencies” quoted the governments. KRATSCOIN is fully decentralized with no ownership nor control by any country, company or individual. Once again, the beauty of Bitcoin decentralization concept prevails.
• “There is no such thing as a world currency. However, since World War II, the dominant or reserve currency of the world has been the U.S. dollar” quoted in google.com.
• Most countries have “Foreign Reserves” as backing to a country’s fiat currency. It is a mean of “back up” attempt should all factors above mentioned leading to the value of their currencies collapse. Then what will happen if the Country of the Foreign Reserves collapse?
• Serial Coded KRATSCOIN belongs to no one, no country, no company and therefore theoretically shall not be effected by politics, war or global economy meltdown yet everyone, every country and every government is able to benefit from KRATSCOIN.
"Quoted by" [[link]6 [[link]7 [[link]8 [[link]9 [[link]10
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DIFFERENCE BETWEEN KRATSCOIN AND BITCOIN
Go1dfish undelete link
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Author: xia112
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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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印网友评论:印度归国学子:印度可以从中国学到的经验 ZT by 学姐的头 on 2014-04-08

-------------译者:观棋柯烂-审核者:chen_lt------------
kshay Kumar, 25, knew his journey would be tough. But he thought he was prepared.
Kshay Kumar, 25岁,他知道自己的旅途会很艰难,但他认为他已经做好了准备。
In 2012, after an engineering degree and a oneyear stint with a multinational, Kumar felt he needed a makeover. "I didn't want to be stuck with civil engineering all my life. I also wanted to see the world and explore new options," he recalls. Doing an MBA from a premier institute was on his mind.
2012年,在取得工程学位并为跨国公司服务了一年后,Kumar觉得他需要一个转变。“我不想被土木工程套牢一生。我也想看看这个世界,探索一下新的机会,”他回忆道。在一个高等学院读MBA的想法浮现在他的脑海里。
He did think of the Indian Institutes of Management (IIMs) and the Xavier School of Management, but the desire for global exposure pushed him to explore options overseas. Kumar settled for a oneyear post-graduate course at the Imperial University in the UK, which he financed via an education loan. "Visa rules and the bleak job market there did weigh on my mind. But I had a feeling I could manage it," he says. He had confidence in Imperial's good global ranking, its alumni network and his own hard work.
他也考虑过印度管理学院(IIM)和泽维尔管理学院,但是对于全球视野的渴望促使他探索海外的机会。Kumar接受了位于英国的帝国大学的一年期研究生课程,其资金来源为助学贷款。“英国的签证规则和惨淡的就业市场确实在我脑海中权衡过,但我有一种感觉,我一定能够应付得过来,”他说。因为帝国大学在全球的优秀排名、其校友关系网以及他自己的努力,他充满信心。
Kumar began his hunt for a job virtually from the day he landed in the UK. He studied hard to get good grades but worked even harder to find a good job. By tapping into networks of his alumni, friends and family, Kumar reckons he would have reached out to over 200 firms during that year. "It didn't work. My good grades made me eligible for plenty of jobs, but my non-European Indian passport was the problem," he shrugs.
Kumar一来英国就开始寻找工作。他努力学习以取得好成绩,但更努力去寻找一份好工作。通过发掘他的校友、朋友和家庭的关系,Kumar估计在那年他接触了超过200家企业。“这没有用。我的好成绩让我满足了许多岗位的条件,但我非欧洲的印度护照是个问题,”他耸了耸肩。
Kumar moved back to India late last year and has just landed a job with a private equity firm. "All my plans have been delayed by five years," he says. Close to half his salary today goes in paying monthly instalments on his education loan.
Kumar去年底回到了印度,在一家私人股权公司工作。“我的所有计划都被推迟了五年,”他说。他每月要用现在将近一半的薪水来偿还助学贷款。
-------------译者:图特腾-审核者:chen_lt------------

The World isn't Flat
世界不是平的
The West has a problem. Its economy is in a funk, not enough jobs are being created, cautious companies aren't hiring too many, and worried governments — from the US to the UK — are raising visa barriers for foreigners to work in their countries.
西方已经出现问题。它的经济陷入一片混乱,不能创造足够多的职位,谨慎的公司不会聘用过多的职员,焦虑不安的各国政府——从美国到英国——正在增加签证壁垒以阻止外国人在他们的国家工作。
Young Indians, who went overseas for education, are facing a tough time finding a job. Many like Kumar have returned home. And some are now casting the net wider — looking for jobs from the US to Hong Kong and Singapore — or settling for sub-optimal options. Rupa Chanda, professor, IIM-Bangalore, who has worked on reports on international student mobility, says visa and immigration is the biggest factor affecting Indian students' decisions.
海外求学的年轻印度人正在面临找工作的艰难时期。像Kumar一样,许多人已经回家。他们中一些人正在通过更大范围的求职网——从英国到香港、新加坡来寻找工作;或者妥协于较次的选择。印度管理学院(IIM)班加罗尔分校的Rupa Chanda教授曾在研究国际学生流动性的报告中指出,签证和移民政策是影响印度学生做出决定的最大因素。
The US, the UK and Australia — the three most popular destinations for Indians seeking global education — have seen the number of Indian students come down over the past few years (see Out of Favour?). Remember, many Indian students take hefty education loans to finance their studies abroad. While many would find decent jobs back in India that would not help much as these students need dollar salaries to comfortably service their loan. This is taking its toll. "Overseas education is costly. Many Indian students are doing a cost-benefit analysis to figure how to recoup their investments overseas and putting off their plans ," explains New York-based Rahul Choudaha, chief knowledge officer, World Education Services (WES), a non-profit organization that provides credential evaluations for international students planning to study or work in the US and Canada.
美国、英国、澳大利亚,印度人寻求全球教育的最火的三大目的地,已经发现印度学生数量在过去几年持续下降(或者三大目的地已经不受青睐?)。记住,许多印度学生都背负着高额的教育贷款来资助他们的海外求学。虽然回到印度他们都能找到体面的工作,但是这些都没有太大的帮助,因为学生们需要一份用美元支付的薪水来帮助他们更轻松的偿还贷款。这就是造成的影响。“海外教育非常昂贵,许多印度学生都正在进行成本效益分析,以找出如何收回其海外投资,推迟他们(去海外就读)的计划,” 坐落于纽约的世界教育服务中心的知识总监Rahul Choudaha解释道。 这一非营利性组织为准备在美国和加拿大学习或工作的国际学生提供认证评估。
But to be fully able to understand how this trend will play out, one must understand the backdrop. A big generational shift is taking place among the students looking for overseas education. Many of them now are India's liberalization children, who have grown up post-1991 and lived in an increasingly global world with fewer barriers.
但是要完全理解这种趋势是如何产生的,就必须要了解其背景。一个大的世代转变正发生在寻求海外教育的学生中间。如今的他们许多都是印度自由的一代,成长在1991年后,生活在障碍更少的全球化的今天。
So in many ways this is their first brush with a world with barriers. Many are also children of globetrotting well-paid senior corporate executives who think differently about education, exposure and investing in a world-class education. "These parents understand the long-term rewards of a world-class education. I see many of my friends taking their children to these top campuses after they pass out from school to give them a first-hand feel," says Hema Ravichandar, strategic HR expert and a former HR head of Infosys.
所以从许多方面来说,这是他们第一次面对来自世界的阻碍。他们中也有许多是环游世界的、对教育、经历以及投资世界级教育有着不同看法的高薪企业的高管们的小孩。 “这些父母明白世界一流教育的长期回报。我看到我的许多朋友带着他们的小孩去顶尖的校园,让小孩们领略这些高等学府给他们的切身感受,”战略人力资源管理专家、Infosys 公司前人力资源主管 Hema Ravichandar说道。
-------------译者:dragonilove-审核者:chen_lt-----------

Woes on Foreign Shores
身处海外的痛苦
Both of Ravichandar's children have studied overseas. Her daughter, Aditi, is doing her MBA from Wharton in the US and her son Nikhil, 22, completed his Bachelor's in economics from Warwick in the UK. Nikhil chose the UK over India because of the flexibility available in picking courses — he wanted to do economics with law which was impossible in India with its rigid course structures. "Education in India is not very research-driven and multicultural," he adds.
Ravichandar'的两个孩子都已经在国外留学。她的女儿,Aditi正在美国的沃顿商学院读MBA而她22岁的儿子Nikhil已经在英国的华威大学完成了经济本科学习。Nikhil之所以选择英国而非印度是因为英国大学在课程选择上有更大的灵活性——他既想要修经济学又想要修法律,而这在具有严格课程结构的印度大学是不可能的。他还说,“在印度的教育并不是由研究来驱使的,也不够文化多元性”。
But during his stay there, the UK revoked the two-year work permit for foreign graduates. Thus he needed a firm job offer to stay on after graduation. This was difficult since he was particular about the kind of work. "I wanted a job in economic consulting," he says. Unable to get that he preferred to do a postgraduate programme instead. While he did not take any loan, for many of his classmates, who had taken a hefty education loan, things were difficult.
但是就当他在英国学习时,英国取消了留学生毕业后的两年工作签证,因此Nikhil需要一份工作从而能够在毕业后留在英国。由于他对工作的特殊要求这显得有些困难“我想要一份有关经济咨询的工作”Nikhil说。若不能获得这样的工作,Nikhil宁愿继续读研究生。由于Nikhil没有像他的同学那样申请沉重的助学贷款,事情开始变得困难了。
Now, Nikhil is back in India getting some interesting exposure at a few start-ups in Bangalore, India's Silicon Valley. He is contemplating a startup of his own. "This is the best time to take the risk and explore it," he says.
现在 Nikhil 已经回到了印度并且在印度的硅谷,班加罗尔与一些新兴企业进行了接触。他正在考虑自己创办一个公司。“这是最好的冒险和探索的时候”他说。
Across the Atlantic, Sujoyini Mandal, in her 20s, offers another peek into the odds that Indian students face overseas. After her graduation from Jadavpur University, Mandal went to Singapore for her postgrad and worked with a think-tank there. Life was good but since she had always yearned for a degree from a world-class university, she applied for a Master's at Harvard's Kennedy School.
穿越过大西洋,20岁的Sujoyini Mandal展现了印度学生在海外遭遇的另一面。在她从贾达普大学毕业之后,Mandal去新加坡念了研究生并且在一个智囊团工作。生活过得很惬意,但是由于她希望获得世界一流大学的学位,她申请了哈佛肯尼迪政治学院。
For two years, she deferred her admission as she did not get any financial aid. She saved some money and, with a bit of aid, finally took the plunge in 2011. Foreign students in her college face an education loan cap of $30,000 ($15,000 a year), she says, making things even more difficult Mandal started looking for a job when she graduated in May 2013. But mandates that fitted her needs and aspirations were not easy to come by. She did land a contract with the World Bank but that was short term, uncertain and had no medical cover. Last month Mandal finally landed a job with an investment bank.
两年来,由于Mandal没有获得任何经济援助,她一直在延迟入学时间。在存了一些钱并且一些援助之后她最终在2011年入学了。Mandal说,她所在学院的留学生面临30000美元(15000美元每年)的贷款限额,这使得情况变得更加困难。Mandal在2013年5月毕业后开始寻找工作。但是适合她的需求和期望的职位并不那么容易获得。她确实已经和世界银行签订了合约,但是那是短期的,有不确定性,也没有医疗保险。最终在上个月Mandal在一家投资银行找到了一份工作。
Despite such struggles, there are many reasons why the pursuit of overseas education among young Indians is unlikely to die down any time soon.
尽管面临这么多挣扎,但仍然有很多其他原因让印度学生想去海外留学,短期内这种趋势是不会消失的。
-------------译者:长太息兮-审核者:chen_lt------------

The Demographic Bulge
人口膨胀
Every year, around 800,000 Indian students reportedly go overseas for their education. This costs the country close to $15 billion of forex annually, estimates industry lobby Assocham. If students are going overseas for education, it's because India has a problem of both capacity and quality. The country has one of the world's largest education infrastructures: 600 universities and 34,000 colleges with 17 million students enrolled and 5 million students graduating every year. But India is also witnessing a demographic bulge — it has perhaps the world's largest young population. Experts estimate that some 100-million-odd students will seek higher education over the next decade.
据报道,每年大约有800000名印度学生出国留学,,据印度工商业联合会估计这将耗费每年近150亿美元的外汇。学生们出国留学是因为印度不管是在教育容量还是教育质量上都有问题。印度的教育基础设施是世界上最大的教育设施之一,600所大学和34,000学院每年接受1700多万新生并输出500多万毕业生,但是我们也正见证着印度人口的爆炸性增长,印度或许有着世界上最庞大的年轻人群,专家估计在未来十年里,将有一亿多的学生寻求更高的教育。The capacity problem is compounded by the quality issue. About 70% of the capacity in India is of poor standards. At the other end of the spectrum, competitive intensity at the premier colleges is so stiff that it is often easier for bright students to get admission in Ivy League colleges in the US and the UK than in the IITs, IIMs and even top colleges in Delhi University.
教育能力和教育质量上的问题是相互关联的。大约70%的印度教育处较低的水准,而另一方面,印度一流学院的竞争激烈且死板,以至于对聪明的学生来说,进入美国或英国的常春藤大学要比进入印度理工学院、印度管理学院、甚至德里大学里好的学院都容易得多。
All this coincides with the rise of India's aspirational upper middle class. Over the past two decades, many first-generation Indians have risen up the corporate hierarchy and are financially well-off. These welltravelled, financially stable corporate executives desire the best for their children. "They are looking for the best educational experience. They know it is a life-long asset. Indian premier colleges do not have the capacity and are very rigid," says TV Mohandas Pai, chairman, Manipal Global Education. Pai's son studied at Stanford University in the US and now works for a start-up in Silicon Valley.
这些现象与印度上层中产阶级不断上涨的雄心壮志密切相关。在过去的二十几年里,许多第一代移民创立了自己的事业,相当富裕。这些经济稳定,见多识广的公司高管希望把最好的东西给予他们的子女。Manipal全球教育主席 Mohandas Pai说他们在为孩子寻找一流的教育,这是孩子一生的财富,印度的一流大学不能给予这些而且这些大学要求过于死板。他的孩子曾在美国斯坦福大学学习,现在在硅谷工作。
This aligns well with the global trend of rising international mobility of students. According to Institute of International Education (IIE), since 2000, the number of students leaving home in pursuit of higher education has increased by 65%, totalling about 4.3 million students globally. What is more interesting is that the share of students from the developing countries in this pie is rising — it moved up from 54.8% to 69% between 1999 and 2009.
这个现象与世界范围内学生国际间流动增强的趋势是一致的。IIE的研究表明,自2000年以来,学生为了获得更高的教育出国的数量增加了65%。全球总计约430万。更有趣的现象是发展中国家的学生所占的份额正在增加---1999年到2009年间从54.8%增加到69%.
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India vs China
印度对比中国
Not surprisingly, the world's two most populous and powerful emerging countries — China and India — send the largest number of students overseas. But China has rapidly shifted gears to overtake India.
让人毫不惊讶的是,作为世界上人口最多、经济发展最快速的这两个国家向海外派遣了最多数量的留学生。但这方面中国很快就超越了印度。
Consider what's taking place in the US. In 2000-01, India topped the list of international students by country, with 66,836 against China's 63,211. But by 2009-10 China had overtaken India. In 2012-13, China sent 236,000 students; India was nudging the 97,000 mark. While the number of Chinese students has been growing in double digits of late, that of Indian students has been sliding. To understand why that is happening, it is important to analyze the profile of students going overseas from both the countries. 2000-2001年,美国的外国留学生中印度学生是最多的,66836人,而中国学生为63211人。但是在2009-2010年时,中国超越了印度。2012-2013年,中国向美国派遣的留学生
已经达到236000人;而印度才逼近97000人。近来,中国留学生人数呈两位数增长,而印度方面则一直在下降。要想了解这其中的缘由,就有必要分析一下两个国家的留学生的一些基本情况。
Chinese students going to the US are evenly split between undergraduate (40%) and postgraduate programmes (44%). But Indian students are heavily skewed towards postgraduate programmes (55%) with just 13% at the undergraduate level. Indian students are also unique as over 60% are in the STEM (science, technology, engineering, maths) category. Bear in mind that historically, postgraduate and STEM programmes offer more financial support than undergraduate and non-STEM programmes.
中国留学生去主要去美国接受本科教育项目(40%)和研究生教育项目(44%),比较均衡。而印度学生去美国主要接受研究生教育(55%),本科教育只占13%。60%的印度留学生学的是理工科。从历史上来说,研究生以及理工科教育项目比起本科教育项目和非理工科教育项目在资金上会给留学生提供更多的帮助。
"The decline in Indian students is directly related to the 'Strivers' , who have been putting their plans on hold due to increasing cost of studying abroad which in turn was triggered by economic uncertainty and currency devaluation," says Choudaha.
“印度留学生的下降与”奋勉族“群体相关(根据全球教育服务处的研究,指的是资源少的发奋者),这个群体由于海外留学费用的增加导致他们搁置了自己的留学计划,而经济不稳定以及货币贬值引发了海外留学成本的提高,”Choudaha说。
A majority of Indian students arrives at the Master's level and funds education by taking loans as financial aid from colleges has dried up. So, while the majority of Indian students go for education loans, Chinese students are supported by their families. According to a research by WES, 47% of Indian respondents report loans as one of the primary sources of funding as compared with only 3% of Chinese.
大部分的印度海外留学生取得了硕士文凭,但由于学校助学金的萎缩,他们不得不通过贷款来完成学业。所以大部分印度学生是通过贷款来完成学业的,而中国留学生则靠父母支持。根据全球教育服务处的一项研究,47%的印度回馈者说贷款是他们完成学业的主要手段之一,而这么说的中国学生只占3%。
Chinese students, in contrast, are "explorers" (experience seekers), says Choudaha. Often the only-child of financially well-off parents, they have the financial wherewithal to study abroad and are under less pressure to find a job there. But change may be afoot. Some Indian students could make the transition from 'strivers' to 'explorers' and Choudaha expects more and more Indian students — most of them children of well-off senior executives — to go overseas at the undergraduate level. Not so dependent on financial aid, he also sees many more Indians exploring new interdisciplinary fields, beyond STEM. Even in the STEM category, experts feel that Indian students will be the biggest beneficiary as the Obama government eases rules for this critical segment in future.
对比来说,中国学生是“探险族”(追求体验一族),Choudaha如是说。通常是富裕家庭的独生子女,所以留学的钱不用愁,也没有太大的压力去找工作。但情况可能会有所改变,一些印度学生有可能从“奋勉族”向“探险族”转变,Choudaha预测说将有越来越多大多来自印度富裕家庭的学生到海外接受本科教育。他们不会太依靠助学金。他还说越来越多印度学生除了理工科外还涉及了新的跨学科教育领域。即使是在理工科类别中,专家们认为随着奥巴马在未来放宽这个类别的规定,印度学生将成为最大的受益者。
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Lessons from China
中国榜样
Two decades back, China faced problems similar to those India faces today — its higher education had both capacity and quality issues. Since then China has worked hard to upgrade its educational institutions. It has two programmes — Project 211 and Project 985. The former aims to make 100 Chinese universities world class in the 21st century; this will help China churn out world-class trained professionals to push economic growth. These universities are expected to set national standards for education quality that can be replicated by others.
二十年前,中国面对的问题如同今日印度面对的问题——高等教育在质和量上的不足。从那时起中国努力升级发展他们的教育机构,其中包涵了211工程和985工程。前者旨在创造21世纪的世界级名牌大学,这会快速培养出大批的专业人才,有效推动其经济发展。这些大学被期望于发展可供借鉴的全国性教育质量标准。
Project 985 started more than a decade back and is an attempt to build China's own Ivy League colleges in the 21st century. In the first phase the project included nine universities. The second phase, launched in 2004, includes 40-odd universities. The projects have been backed by significant investments. According to a New York Times report, China is investing $250 billion a year in human capital.
985工程开始于十多年前,意在创造21世纪中国自己的常春藤校盟。工程第一阶段包括了九所大学。第二阶段在2004年启动,新增四十所大学。这项工程受到了大量投资支持。据纽约时报报道,中国为人力资源发展一年就投资了2500亿美元。
The dragon country's efforts are now bearing fruit. Many Chinese universities are climbing up the global ranks. Two Chinese universities have made it to the top global 50 in the Times Higher Education report. India has none. In the top 500, 16 Chinese universities make the cut against seven from India. Mobile international students are taking note. A decade back, China was hardly on anybody's radar.
龙之国度的努力现在已经开花结果,很多中国大学都跻身入全球排行榜。泰晤士报高等教育刊报说两所中国大学成功挤入全球最佳大学前五十名。印度一个名额都没。在全球前五百名大学中中国有16所,完胜印度的七所。国际学生们都注意到了中国的巨大变化,而十年前,中国大学几乎不被关注。
Today, it is the third largest education hub in the world after the US and the UK with 3.28 lakh international students, according to IIE. By 2020, it hopes to host 500,000 international students. Even Singapore is targeting 1.5 lakh foreign students by 2015. In contrast, India was home to just 27,000 international students in 2012. China is aware that to push innovation and realize its economic ambitions, it must be able to attract top talent — in its colleges and workforce.
据国际教育学会数据,现在中国拥有32万八千的外国学生,是仅次于美国和英国的世界第三大教育中心。到2020年,这一数字可能变为50万。即使小国新加坡也有在2015年达到15万外国留学生的目标,而印度在2012年却只有2万七千外国留学生。中国已经意识到,若要推动创新和实现他的经济腾飞,就必须吸引来高端人才——在大学和职场上。
Also, in virtually every key statistic, the world today is seeing a shift from the West to the East. From economic GDP to consumption power, MNCs across the board are looking at Asia and the world's two most populous nations. This shift is happening demographically too. But in the education space, the West still dominates.
从每一个关键数据都能看出,实际上世界中心正从西方转移到东方。亚洲国家,特别是世界两大人口大国国民生产总值和消费能力的提升吸引了所有跨国公司的目光。这种转变和人口有关,但是在教育方面依然是西方占主导地位。
Of the world's top 100 universities, 46 are in the US. Seven of top 10 universities are in the US. Asia has just 11 in the top 100. "It is difficult to replicate what US has done with its universities to 2emerge as an innovation hub," says Pai. So, ambitious and aspirational Indians will continue to look overseas for education. But if India has to realize its potential, it must invest heavily in building world-class institutions in the country — the China way.
世界前100名大学有46所位于美国,前十名有七所是美国的。亚洲在全球大学前一百名中只有11所。“美国通过大学而转变为创新中心的成功是很难被复制的,”派说。因此,有理想有抱负的印度人会继续寻求海外教育机会。如果印度想发掘自身潜力,他必须学中国那样,大力投资于建设世界一流的国内大学。


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Skhey Mobile (Gurgaon) 22 Hours ago Foreign degree is no more a guarantee card for success.
外国文凭已经不再是成功的保证了
Neil M (pune-mumbai) 22 Hours ago Finding a good university and a good course is important. I know many guys select short courses which are not recognized world wide and specially in India find it difficult to get a job. Also, dream america is not true for everyone. All the best to seekers.
找一个好的大学和好的专业是十分重要的,据我了解一些人选择了一些短期的课程,这些课程并不在世界范围内被承认尤其在印度会发现很难找到一份工作。并不是每个人的美国梦都能实现。祝追梦者好运
Rajesh Thambala (Hyderabad, India) 23 Hours ago Very informative article.
十分有意义的文章
Partha (Bangalore) 1 Day ago Nice Article. Much Appreciated
很好的文章,表示赞赏
SAMAD (India) 1 Day ago right choice....
正确的选择
Tempcool Mukhopadhyay (India) 1 Day ago An excellent article. Appropriate and very well timed. Issue lies with inadequate job creation in India compared to passing out rate and all sorts of reservation quota for the "privileged" groups. Also unscrupulous marketing by planting misleading information by the education institutes of developed countries and their Indian agents.
一篇很棒的文章。写的正是时候。问题在于在印度创造的就业不足,而毕业生却不断增加,而且“特权”团体得到各种各样的预订配额。另一方面,发达国家的教育机构和其印度代理通过误导性的信息来是肆无忌惮的推销自己的教育产品。
Guramandeep Singh (Mexico) 1 Day ago 67 years after Independence, we are still stuck to providing reservation quotas in institutes of higher education. The recent Supreme Court order puts 27% reservation for OBCs which along with that of SCs and STs brings the total reservation to 49.5%. Here is the breakup of IIM-A seats: General 182 Non creamy OBC 104 ---- Schedule caste 58 ---- Schedule tribe 29 ---- Differently-abled 12 ---- Total 385 --- I have read various comments touching upon patriotism towards India to youngsters being crazy and the need to enlighten them. Reservation for a certain group is discrimination against the other groups. So ask yourself, is our system really fair? Should we not be looking at this objectively and trying to solve the root cause of the problem instead of commenting upon the phenomenon which is a result of a messed up education system at the behest of corrupt politicians?
已经独立67年了,我们的高等教育学院仍在坚持预定配额制度。最近,最高法院颁发命令27%的份额给“其他落后阶级”(OBC),同时给予“设籍种姓”(SC)和“设籍部落”(ST)一定的配额,所以总共就达到了49.5%的配额。对某一群体的配额预留其实是对其他群体的歧视。因此,扪心自问,我们的教育系统真的公平吗?相比于仅仅讨论因为腐败政客的命令导致的混乱教育系统的各种表象,难道我们不应该客观的看待并从根本上解决这些问题吗? (译著:印度的预留机制指的是将政府机构中一定数量的空缺席位留给那些落后和代表人数不足的团体(主要通过种姓和部落来定义)的成员。相当于以配额为基础的平权运动。“其他落后阶级”、“设籍种姓”以及“设籍部落”是这项机制的主要受益者。
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ILA (Chennai) replies to Guramandeep Singh 1 Day ago Dear Learned Singh. This article has nothing to do with reservation. Reservation is about affirmative action (in US parlance). Trying to give some sort of equal opportunity to people (98%) who were subjugated, denied education, and exploited by so called Forward Castes in India who constitute only 2% of the total population for millenium. This reservation is in vogue for only 60 years how can this equation be achieved in such a short span of time. Now the Forward Castes are slowly waking up and cramming for their share in the available piece of cake. If heat is felt for this itself then what should the subjugated feel for having been so for a millenium in the name of MANU SMRITIs laws? People who believe so are as you had rightly (?) pointed out are HYPROCRITS and prisoners of their own conscience.
亲爱的Learned Singh,这篇文章没有提到预留制度,预留制度是一种平权运动(用美国的说法)。它可以给被占2%总人口的高等种姓剥削了上千年,没有机会接受教育,占人口98%的低种姓人一定程度的公平机会,预留制度刚才实施了60年,在这么短的时间内绝对公平是很难实现的。现在高种姓的人正慢慢觉醒,开始狼吞虎咽的享用他们的份额。如果有些人对这种制度反应都如此激烈,那么在《摩奴法典》教义下过了上千年的被征服者又应该做何感想?反对这种平权运动的人都是伪君子和不道德的人。
RM (MN) replies to ILA 9 Hours ago Excuses, excuses. Sixty years after Independence you're still making excuses for a quota system that has made Indian education into a pile of rubbish.
呵呵,独立已经60年了,你还在为把印度的教育弄得一团糟的预留制度找借口
Athena (London) 1 Day ago It is Imperial College and not Imperial University. Perhaps ET must invest in better human capital!
那是帝国理工学院而不是帝国大学,或许《经济时报》应该加大人力资源投入了。
(Hyderabad) 1 Day ago Same thing happened with me as well like akshay kumar. I thought i am reading my story.
我和阿克夏·库马的经历很相似,我还以为在读我自己的故事呢
Nihar (Mumbai) 1 Day ago It completely depends on which institution a person is studying in abroad. It is not so that somebody got a degree in a well recognized institution in foreign and unable to get a job in India. So I request "The Economic Times" to provide a proper interpretation to the reader.
这完全取决于个人在国外的哪个机构学习。一个人得到国外著名机构的学位,却不能在印度找到工作 ,这是不可能的。所以我要求经济时报对给读者一个合理的解释。
kshi S (Bhopal) 1 Day ago coming to US was the worst decision of my life
来美国是我一生最错误的决定
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B Venky Venky (Bangalore) 1 Day ago Very informative article. To have world class universities in India, the government should get out of the way. The quota raj in higher education has to stop. More and more private funds has to be garnered towards higher education by giving tax sops. But all this remains in the realm of fiction at the moment.
非常有教育意义的文章。印度如果想要建设世界一流的大学,政府就不能介入。高等教育的配额制度必须终止。通过给予税收方面的优惠,吸引更多的私人基金投入到高等教育中来。不过到现在为止,这还还都是痴人说梦。
ketan m (mumbai) 1 Day ago study there, work here. sounds great!
出国留学,回国工作,看上去不错!
thomas (india) 1 Day ago Yes, every Indian should go overseas for education - build up net work..learn how other s think..their style-quality etc. come back and start self employed business ... it will flourish. take example from china who are into A to Z of business and industries ,they make impossible happen...of course duly and completely supported by their govt..
我同意,每个印度人都应该去国外接受教育,这样可以建立人际关系,了解别人的思维模式,健康的生活习惯等,然后再回国创业,这样国家才能繁荣。就像中国一样,在各行各业里他们都创造了不可能的奇迹,当然,也离不开政府部门适时的大力支持。
Saswata mandal (kolkata) 1 Day ago still every good student wants to go abroad.. why is it like that??
为什么所有的好学生仍然都想着出国?
Nanda Kumar (Chennai, Tamil Nadu) replies to Saswata mandal 1 Day ago ET pointed it out already..Global Exposure! and Farther mountains always seem smoother :)
金融时报已经指出来了。。。他们希望能在国际上露脸!因为外国的月亮比较圆 :)
Anupam (Bangalore) replies to Saswata mandal 1 Day ago Quick money
想赚快钱呗
Mumbaikar (Mumbai) 1 Day ago It's not entirely the kids fault - some ambitious parents push out the kids too - 'we don't think there is a future here', they say. Now, some are stuck abroad and need to return home, as countries are on an economic downturn and/or are looking more inward now, . Complicated situation - but opportunities are here too, if you want to grab them. Not everything here is as bad as you may think.
不完全是孩子们的错,一部分雄心勃勃的家长们把他们的孩子推到了火山口。家长们总会说:”我们在这看不到未来。”现在,由于外国经济的不景气以及现在他们更看重本土的学生,留学生在国外没出路,所以只能回国。情况很复杂,但是如果你想要,国内同样有机会。国内情况并非你想象的那么糟糕。
Bharath Selvan Sukumaran (Chennai) 1 Day ago Good news for India. Let their knowledge be used for Indians in India
对印度来说是个好消息。他们学成之后可以回来造福印度人民。
jgsemig (Delhi110007) 2 Days ago what about large numbers of foreign students studying in India? How could IIM-B professor be so insensitive? In a global world does this mean that Indian educational Institutions have already thrown in their towels? Does it also mean that Universities like SAARC and others have no futures?
也有很多外国学生在印度留学啊。 为什么印度管理学院班加罗尔分校(Indian Institutes of Management) 的教授们这么愚钝。从全球范围来看,是不是这就意味着印度的教育机构已经宣布投降了?类似南亚区域合作联盟(South Asian Association For Regional Cooperation)这类的学校就没有前途了吗?
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Sriram B (Bharat) 2 Days ago Learn Globally and be back to improve India. Just as they say wait till the last ball is bowled in a cricket frenzy country; do not lose hope till you have tried your hands on what you want to transform the country into.
出国深造回来为祖国效力,在这个痴迷于板球运动的国家里,就像人们所说的不到最后一球都不能言败;在尝试做一些让我们的国家变得更好地事情之前,也不要放弃希望。
Ajay Kumar (NYC) 2 Days ago Only the people who have earned admissions into Indian Universities based on reservations, face problems studying abroad, as they are looking for concessions always. People who have earned admissions throughout based on their capability and knowledge, do not face any problem. Such students do not come back.
只有那些依靠配额进入印度大学的人在出国留学学习时会面临问题,因为他们一直在寻求被特殊对待。而依靠自己能力和知识进入大学的人不会面临这些问题。这些学生也不会回国的
Ayush Jha (NOIDA) 2 Days ago Study in the US(OUT OF INTEREST in the field and/or spectrum, NOT parental pressure/peer pressure) , Work to repay the loans & then do your own startup in India. All the best :)
在美国学习(自己兴趣使然,而不是受到父母或者同龄人的压力),工作付清借款,然后在印度开始自己的事业,祝好运 :)
Mukesh Mishra (Haridwar) 2 Days ago It didn't work. My good grades made me eligible for plenty of jobs, but my non-European Indian passport was the problem," he shrugs.
他耸耸肩说:“没用的,我的成绩足够好让我可以得到很多工作,但是我的非欧洲的印度护照才是问题的关键。”
Ashwani Kaushal (New Delhi) 2 Days ago righly said, getting an addmission in DU colleages are like dreaming in day time.... it is always good to go abroad and get certification and return back... but once the indian student get a better envoironment and facility abroad why they come back to corrupt indian culture, only few with family business background will come to share the same plateform with their parental company ....shamful for Indian corruption
说得对,要想进入德里大学无异于白日做梦。出国留学获得学位然后回印度总归是好的,但是,既然印度学生在国外有更好的环境和设施,他们怎么会回到腐败的印度呢,只有很少一部分有家族企业背景的人回国继承父母的产业,对印度的腐败感到羞愧。
Parthipan K (Chennai) 2 Days ago I agree with the fact that Indian Universities are not flexible. But intelligent students can acquire knowledge of any subjects of their own. So they should not blame Indian Universities. More over, not all institutes in abroad are of high standards. Even in Ivy schools, the standards are coming down like our IITs. My opinion is that if one works hard in Indian top universities, they can acquire global standards. Also all the premier institutes in US are putting their course material in the web and hence, by going thru them one can acquire high knowledge.
我同意印度的大学不够灵活。但是聪明的学生可以靠自己得到任何学科的知识。所以他们不应该抱怨印度的大学。另外,并不是所有的外国机构都有很高的水准,甚至常春藤大学也正下降到印度理工学院的水准。我想说的是,如果一个人在印度一流大学里足够努力,那么他可以达到世界级的水准。另外美国一些著名大学把他们的课程放在网上,因此通过网上课程我们可以得到尖端的知识。
submitted by robot301_02 to kfq [link] [comments]

Partial translation of long Chinese article regarding the recent actions of PBOC

https://www.sosobtc.com/article/24259.html
The following is a rough/partial translation of the article "Reflections on the present situation of Bitcoin and thoughts on its future" provided in the link above
Two hurricanes swept through the landscape as the summer season trails off, instead of uprooting trees and destroying houses, it ravaged through the Bitcoin markets.
In early September, Chinese authorities made an announcement banning Initial Coin Offerings (ICO), this was shortly followed by a second official statement regarding the closures of Chinese cryptocurrencies exchanges. These two statements triggered a flurry of selling off and caused a massive upheaval in cryotocurrency markets.
This author had anticipated these actions from PBOC, and was perhaps, even an unwitting instigator (in the most minor sense possible) for the current turn of events. A few days back, this author had suggested that PBOC should just shut down Bitcoin mines and exchanges in China, thus allowing an easy way out for the central bank to abscond itself of any “supervisory responsibility” over this burgeoning industry. This would also ensure that Bitcoin markets would open to develop organically in a democratic, autonomous manner, free from constant irrational interference of the Central Bank. Nevertheless this author still found it surprising that the typically indecisive PBOC would take such a drastic action within such a short time.
In the author’s opinion, there are three main factors, and three minor factors that lead to this latest decision by PBOC. Here are the 3 main reasons:
1) The increasingly unwieldy size of the Bitcoin market
First, let’s keep a few figures in mind. 1) In 2015, based on the limited amount of information available to the public; China UnionPay the crown jewel of PBOC disclosed a profit of 3.8 billion CNY, and held 66.5 billion CNY worth of assets. 2) 220 billion CNY; stamp duty revenue generated from securities issued by CSRC.
Now, consider the size of the Bitcoin industry in China. China holds approximately two thirds of Bitcoin currently in circulation, ~10 million Bitcoins. Before the most recent market upheaval, Bitcoin’s value was holding steady at around 30000 CNY (4500 USD), hence according to this approximation, Bitcoin holders in China is controlling 300 billion CNY worth of a highly liquid, easily transacted wealth that is not subjected to regulations and jurisdiction by the Central Bank and Ministry’s of Finance. In a space of a few short years, the amount of wealth held by Chinese citizens in Bitcoin has now swelled to a very significant amount that’s on the scale of annual military spending of nations such as India and Russia (55.9 billion and 69.2 billion USD respectively, estimated Bitcoin holding in China 45 billion USD (when price was at 4500 usd)
Now that the days of exponential Chinese economic growth driven by its manufacturing industry is over, various ministries are trying all sorts of different methods to promote economic growth. However, for all their efforts to promote and cultivate a new multibillion industry, their achievements pale in comparison to the Bitcoin and cryptocurrencies industry which had slipped right under their noses and is now thriving. It is easy to conjecture that the success of this new, non-government sanctioned industry is a slap in the face for archaic and control hungry Chinese party officials.
Following the runaway success of Tencent and Alibaba, two recent multibillion companies which the Chinese State failed to put their finger in, Chinese officials are now determined to nip the Bitcoin industry in its bud before it blossoms into another non-state sanction success. This vindictive and petty type of thinking is rather typical, and to be expected of the current administration.
2)Disruption of the societal hierarchy
The social hierarchy of China is still largely determined by state-owned monopolies. The distribution of public wealth and resources like real estate, mining rights, and business permits etc. are dictated by those wielding power in state enterprises. The immense wealth generated by these essentially risk free businesses is only accessible to relatives of high-ranking officials and fellow insiders, i.e an oligarchy.
However the wealth generated from the Bitcoin industry which was essentially started by a bunch of tech enthusiasts with some old computers, a few lot of GPUs, and self taught mathematical models. This completely circumvents the typical route to wealth and riches as dictated by the state, and is a threat to the way they constructed the society to be. Hence, the Bitcoin industry must be stopped and to be made an example of.
Business owners in cahoots with state officials also resents the Bitcoin industry greatly, like how they resisted e-payment systems like Alipay, WechatPay, or e-communities such as qq and Wechat initially. These business owners are essentially power brokers, where their greatest asset lies in their ability to act as an intermediary between private enterprises and the State, if new businesses no longer require the blessing of the state to prosper, then as the unofficial toll collectors would surely be starved.
3)The inequality of wealth distribution arising from the Bitcoin industry
The frontrunners and greatest benefactors of the Chinese Bitcoin industry had been young tech enthusiasts. Typically young males in their late 20s, and as the price of Bitcoin boomed, they became a very conspicuous bunch of newly rich. These quickly drew the ire of the Chinese community, “your dad isn’t some powerful Chinese tycoon or government official, what did you do to deserve to get rich so quickly!” was the unspoken sentiment of the public. As more and more stories about the overnight success of Bitcoin mining/trading enterprises received inceased media coverage across 2016, the Chinese were driven into frenzy on this new source of wealth. One portion of the public started to throw their hats into the ring, by exploiting the fact that the public by large only possess a half-baked understanding of cryptocurrencies. These newcomers posed themselves as some sort of Bitcoin sage, and immediately started advocating all sorts of altcoins and cryptocurrencies to enrich themselves.
Another portion of the public started to horde towards these so called bitcoin sages entrusting them with their hard earned money so that they can be a part of this exciting new industry. The fact that they lost money has nothing to do with the Bitcoin industry, but is solely due to the fact that they did not educate themselves properly and allowed themselves to be taken advantage of by some unscrupulous individuals.
But the largest portion the public became increasingly envious of the success achieved by the frontrunners in the Bitcoin industry, feeling that it’s too late to join the bandwagon, and angry that all these newfound wealth had completely eluded them, they began to sound their frustration, demanding the closure and banning of the new arcane industry that they had missed out on.
In recent years, financial crisis in China had always originated from State-controlled markets such as the stock exchange, Forex or the real estate industry. As the Chinese people grew increasingly distrustful of these State-controlled industries, the self-regulated Bitcoin industry emerged as shining beacon of success. The relevant authorities took note of the public dissatisfaction with Bitcoin and decided to go with the flow, assuaging public outrage while at the same time, diverting attention away from their own failures in issues such as the unaffordable real estate prices that's currently paralyzing the young Chinese community.
The aforementioned three factors are deep rooted, and would always be a core reason for the Chinese government to stamp out Bitcoin. Here are three more minor reasons, which are more circumstantial and technical in nature:
1)The contentious hard fork leading to discord among the Bitcoin community
Ever since Bitcoin splitted into Bitcoin Core and BitcoinCash, the community has grew increasingly partisan. This animosity between the two factions had damaged Bitcoin, and some people had decided to exploit this divide. The statement from James Dimon about Bitcoin being a scam was quickly picked up by Chinese officials to clamp down on Bitcoin. The credibility of his statement is dubious, seeing that JP Morgan was just as complicit as Lehman Brother’s was during the 2008 financial crisis, and really should not be calling out other people for being a scam. However, Chinese officials quickly took his words as gospel, after all enemy of an enemy is a friend. This crackdown essentially kills of the new Bitcoin blockchain advocated by the Chinese Bitcoin community (i.e Bitcoin Cash), so in a sense the state officials are modern traitors, by siding with foreigners and their view of Bitcoin.
2)Bitcoin market is still too naïve and immature
Even before the Bitcoin hardfork was concluded, exchanges started listing tokens representing BitCoin Cash for trading. This action in particular hastens the decision by Chinese authorities to clampdown on Bitcoin. This decision is simply reckless and irrational, as it lies in complete betrayal of what Bitcoin stands for. Bitcoin is the time tested, gold standard among cryptocurrencies because every single bitcoin is forged by miners, this is what that makes Bitcoin secure and distinguishes it from the many other altcoins that currently exisits. Bitcoin is more than just a currency; it has solid proof of work backing it up. By simply listing BCC tokens before they are mined. What the exchanges are doing is no different from the central bank issuing fiat currencies, and by stepping into the domain of the central bank, Bitcoin exchanges now have painted a huge bulls eye on its back
3)Too much speculators, opportunists joining the fray
In the few weeks prior to this crackdown, i.e when Bitcoin was at its all time high. Figures in the financial world that used to jeer at Bitcoin started to change their tune. They popped out like mushrooms after rain, claiming that they too want to join this exciting new industry, be it as a miner, a day trader or to start blockchain companies. In hindsight, these are clear indicators that the Bitcoin market is overheated and is due for a correction.
Three years ago, when Bitcoin was worth around 1000 CNY, it was clearly a good, underpriced product with a clear utility and huge potential for future growth, but not a lot of people were buying it. However, now that the price had climbed all the way to 30000 CNY, people are rushing to get more of it. There was clearly a bubble, and that’s why this author started exhorting for PBOC to crackdown on Bitcoin and pop the bubble.
submitted by wombatdowneyjr to Bitcoin [link] [comments]

(Reboot) ELI5 on how China fucked their own economy, chapter 6

OK Yesterday's HCFTHE was a big let down. I read on the next few chapters and I feel like there's no more point in translating anymore because the author's coherence is slipping.
This is a reboot. From here on, it's all cruise speed. No translating, it's all me!
(Translated) Chapter 1
(Translated) Chapter 2
(Translated) Chapter 3
(Translated) Chapter 4
(Translated) Chapter 5
Chapter 6: RMB internationalization, a dream? a future?
RMB internationalization. You've heard of RMB. We all have, the legend, the curses. Some foolishness about a currency that never devalues. A closed currency. Buried beneath an opaque monetary policy... a bald, aging portrait of Mao luring investors to their dreams. An illusion that you can begin again, change your fortunes. Issuing them, though, that's not the hard part. It's internationalization.
(Sorry been playing A LOT of fallout. Production is down 50% because half my office are gone and the other half...are playing with me. Seriously, fuck Chinese New year.)
Except for the face culture, RMB internationalization is pretty much a national goal of China. To have their currency achieve global status will make it a rival currency for the USDollar, much like the Euros...except it's Asian. An Asian euro is crucial for China to establish its asiaphere influence zone. Having China enter IMF's basket of currencies is just a first step.
Before we talk about "how", let's talk "why". Why is it important for RMB to go global. For this we will need a deep understanding of world economics, but to dumb it down to ELI5 levels, we'll simplify it down as following:
World domination.
Wow wow wow holy fuck upads what the fuck!? This escalated quickly!
Sorry, but this is a fact. The British Pound, once served as the world's premier reserve currency, shaped the British Empire where the sun never. In fact, UK still hold [14 overseas territories[(https://archive.org/stream/09LONDON1039/09LONDON1039_djvu.txt), and the sun never sets on all fourteen British territories at once. Glory to the queen!
OK let's double time, here's a short list of goals that RMB internationalization can help achieve:
  1. Debt. Chinese companies have a lot of debt in USD. As of right now China don't want RMB to devalue because it would make debts harder to pay.
  2. Getting rid of forex risk. Self explained.
  3. Exports. With all China's debts in RMB there will be no consequence in devaluing the RMB. Will you pay $400 for a Huawei smartphone? No? How about $100? Cheaper price, it helps boosts sales volume. A lot.
  4. Getting rid of language barrier. If you look up most common language on harmony it lists Chinese with the most number of speaker s in the world, followed by Spanish, then English. Guess what language is most common in the business world? English. Guess what language does world reserve currency countries speak? English.
  5. Getting rid of autistic monkeys ESL teachers. Having RMB as a global currency will help China demand their business partners to start speaking Chinese, giving China home field advantage. The reason ESL teachers are needed is because China needs to do business in English. Seriously why the fuck do I need to learn English if I'm not gonna do business?
  6. Better politics. With foreign languages kicked out of their curriculum, the Chinese population can spend more time learning useful things, such as how to worship the communist party Seriously, learning how to think politically is a mandatory subject in high school curriculum, as well as gaokao.
  7. Better economics.
Now on the spot light. Everyone who are asking me to talk about silk road start reading here.
Right now, China is in a tough spot with their overproduction problem. Here's a flow chart, from the start to now:
  1. Steel industries fighting to get into the market
  2. Too many steel suppliers leads to overproduction
  3. One steel suppliers try to eliminate competitions by driving prices down.
  4. Every steel supplier does the same.
  5. Prices eventually go so low, sales price is lower than production price.
  6. Every steel suppliers are now religions, praying their competitions will go bankrupt first so they can one day dominate the market.
  7. CCP cracks down on religion, prayers not answered. Steel suppliers now in the negative, have to borrow money from banks.
  8. Banking regulations stats they can only lend money to suppliers who are in business, i.e. have production and sales. Nobody can sack their workers and nobody can let their workers sit idle because it is also against the law to have idle workers.
  9. Death spiral: Lending leads to production, production leads to loss, loss leads to lending.
China is not as stupid as you think. They know how supply and demand works. They did not foresee the death spiral because there is no precedent. In normal cases supply-demand imbalance even out naturally by supply side shutting down due to lack of profit. But this is China. Steel makers are not investing their own money in the business, they are getting their source of funds from the government are. They do not care if their factories do not turn a profit. Afterall, it's not their own business.
"China is different." Damn right you are. China is the only country in the WTO whose majority of the population lacks independent thinking. The Chinese hierarchy system...it's a convenience. It tells you where to go, what to do, dulls your brain. The party wants us to make steel, I make steel, you make steel, everyone make steel! Everyone apply for a job for the steel making industry and everyone get subsidy from the government! Everyone drive down prices and everyone borrow money! Because the party says we need to make steel.
To fix this death spiral, China needs a larger demand, and if they cannot create demand among themselves, they have to create demand among foreign countries...and there is no way in hell the Americans and Europeans will accept Chinese quality steel.
So, turning their eye to Iran, Pakistan and other developing countries. Cue the one belt, one road protocol. Here's their pitch, dumbed down:
China: Do you want GDP? Do you want groooowth? Learn from us! Build bridges! We can sell you steel at half price! Not like greedy Europeans.
Really, that's it. Building infrastructure is one of the fastest way to bump your GDP, even if they end up useless later on. If China can sell their steel to those countries, they can effectively get rid of a lot of overproduction, maybe even evening out the supply-demand imbalances with the increase in demand!
Two obstacles here.
These developing countries have their own currency, and their other currency is in the form of foreign exchange, in USD. Foreign exchange risk still applies here. Secondly, because they are developing countries...often they don't have the money.
The solution: lend them money. With RMB. Through the Asia Infrastructure Investment Bank. This is going to kill 3 birds with one stone.
  1. Provide capital...provide a means to demand for things. The steel makers can now make a sale, easing oversupply problem finally.
  2. Weaken USD status, strengthen RMB status. Take loan out in RMB, repay with RMB...except you don't have RMB in your reserves. You take your USD from your foreign reserves, and exchange for RMB, because with closer ties with China supplying your every needs, there is no reason to be keeping those USDollars. Although AIIB says it's going to offer USD, Euro and RMB, you bet your ass that they are going to offer some very good conditions on taking loans out in RMB...the potential of further devaluation of RMB is already very attractive, I wonder what else they can add.
  3. Debt settlement. China can now use your USD to repay your debt (fun fact: AIIB lending terms are on a 3 year basis, so they will be collecting their USD in 2019----Guess when the majority of China's foreign debts are due? 2020. Their timing is just perfect).
  4. Positive cycle: Initial lending leads to sales of steel, sales of steel leads to infrastructure building, infrastructure building leads to more sales of other materials, which leads to more lending...the whole cycle leads to weaker USD status in these countries and strong RMB status.
Whew! That's a lot of research! Now that we got the AIIB out of the way, one belt is partially explained but to those who don't get it, high speed rail uses a lot of steel, and is considered infrastructure.
Now that we've got AIIB and one belt under the belt, the last that remains: one road. This is when I'm going into /conspiracy level shit talking and I'm sure I'll be generating a lot of downvotes, so I'll keep it skippy. Here's a list of problems are facing that can be solved with one road(sea silk road):
  1. Over production
  2. Economy focused along shorelines
  3. Dependency on natural resources from hostile foreign forces.
Here's how one road will help them solve these problems:
  1. Trade to solve overproduction, already mentioned above.
  2. Give China an excuse to exercise more controls on the sea, such as the entire South China Sea.
  3. This is the most important. Control of sea routes will allow China to prioritize their freight routes over other countries. While SCS is going to be free, it will be "free with Chinese characteristics". Freights from China are going to flood the SCS and take up a lot of queue space in sea routes shared with other countries, namely Brunei, India, Indonesia, Japan, Korea, Malaysia, Philippines, Taiwan, Phili, Indonesia, Taiwa, Vietnam, etc. If you have ever tried queuing with the Chinese, you know how this will end.
  4. Fuck yeah.
submitted by upads to China [link] [comments]

BLOCKCHAIN IN A NEW TECHNOLOGY!

FXPay BLOCKCHAIN ​​ In NEW TECHNOLOGIES! Today I will acquaint you with the project, BLOCKCHAIN IN A NEW TECHNOLOGY! I am very glad to the idea which they have put forward.
About the company FXPay the First-ever ecosystem of tokens Forex allows to finance, invest and trade on a block lens. FXPay is a fascinating and perspective business opportunity which introduces innovative technologies on the market of foreign currency (Forex). Our purpose - to eliminate the current inefficiency in the market and to provide economic decisions to brokers, traders and suppliers of liquidity. Using technology blockchain, FXPay can reasonably reduce risk for brokers and traders, giving more opportunities and increasing the speed of transactions in the Forex market. FXPay with pride offers our initial offer of a coin on the market and allows investors to become a part of our fascinating new product and a travel. The FXPay platform immediately will begin to solve problems in the current Forex market. Our proposed solution will show material value of a token of FXP. Headquarters Canary Wharf, London
technology FXPay uses linear technology for integration of all hierarchy of monetary and credit branch. FXPay is aimed at providing economically effective decisions for suppliers of liquidity, traders and brokers and for elimination of present inefficiency in branch. FXPay believes that we can reasonably reduce risk and accelerate processing of currency trade operations with use of a token of FXP ERC20 depending on symptoms of BlockGain Ethereum technology. Cards can be exchanged easily for fiat, and fiat can be also converted into FXP tokens. In both cases the token would be very useful to the programmers who are looking for an ideal product in branch. Each block chain is intended for a definite purpose.
Really interesting part of a blokheyn is in how he works in hierarchy, but not through standard model the client server. Before continuing, you want to install tower components which are made for growth. It occurs because their input is more, than what they give. It will be the main source of trade of FXPay.
What is fxpay? FXPay — это a bright and perspective business opportunity which offers advanced technologies in the Forex market. FXPay believes that it can reasonably reduce risk and accelerate trade of FX by means of use of a token of FXP, ERC20 token on the basis of Ethereum block chain.
decision FXP has also introduced the strategy allowing to increase surely token value. Introducing blockchain technology on the foreign exchange market, FXPay can eliminate market failure, still. have the decision. Providing some kind of digital currency for brokers and traders, FXPay provides means by means of which it is easy to convert currency of Fiat into the FXP cards. As soon as he is safely registered on a block chain, he can be transformed to any of our currency pairs. Then traders can utilize the currency credit for entry into the market. As soon as the transaction is finished, traders can trade in the FX credit back in FXP or any other digital currency. Besides, traders can choose the currency credit,
Coin Token Sale: On August 01 — on October 31 FXP ticker Ticker ERC 20 ICO Token the Price is 1,6 USD Trust funds 90,000 ETH Total amount is 500 000 000 000 FXP It is available to sale the Code of 40% White Unknown list client Vasha the account has accepted token for release of 200 000 000 FXP accepts ETH, BTC
team The FXPay team has more than 20 years' experience of development of the software and forex-trading. This experience has given them the chance to identify demand in the market Forex for new technologies, and then to use him. This new trade software works as the Forex and Crypto portal for both markets. He possesses a powerful set of functions and advantages, including a multi-purpose e-wallet, mirror trade and an investment in the debit card in real time. easily to get access to the capital. This purse will be available both to mobile iOS devices, and to Android. Users can send and receive FXP coins, exchange them for FX credit. Use of smart contracts on the FXPay platform can help clients to save up to 90% in comparison with the existing structures of payments on the market.
For more information visit : https://fxpay.io/ Technical documentation; https://fxpay.io/pdf/FXPAY_V.1.4.pdf Twitter: https://twitter.com/fxpayglobal Discussion of bitcoins Subject: https://bitcointalk.org/index.php? topic=3851151
About the author Bitcointalk : dz roknroll27 Bitcointalk Url: https://bitcointalk.org/index.php?action=profile;u=1456356
submitted by RoknRol1 to Crypto_General [link] [comments]

(Early Macro Monday) Blackbox trading and the moment the global market vanished.

Warning: There's a bit of conjecture involved in this topic.
'Blackbox' trading, or Algorithmic trading is one of the least well understood and largest facets of, in particular, the FOREX market. HFT (high-frequency trading) accounts for a staggering 70% of all orders executed. Many of these orders sit at the other end of CFD platforms, they exist to take up the other end of the trade and levee a tiny commission.
As you should know, the currency market is by far the most traded, the top pairs like EUUSD, GBP/USD, USD/JPY are pushed back and forth in high volume on the floors of Goldman, J.P. Morgan and Citi (to name a few) and move billions in this market, part of the essential function of keeping currencies liquid. What many don't realise is this system is probably the most pervasive in the modern financial market. Lets look at a quick hierarchy of how firms interact with buysiders and where the algorithms (and Quants) fit.
Top dogs: The big 10 banks. GS, MS, Citi and the others are the alpha predators. Exchanges: NYSE, NASDAQ, JEG. The exchanges are a gateway between the groups. The feeding ground. Quants: These are the firms which develop and run the algorithms Buysiders: Vanguard, Pension funds, superannuation funds. This group is the lunch. Independent traders: Generally options day traders of CFD users. Lower than an amoeba in the chain. 
The algorithms mediate the other end of each trade, the best way to picture this ecosystem is as an aquatic food chain. Make no mistake, the buyside cap management investors (Pen funds, Vanguard, etc) are the defenseless free lunch. Every trade they place gets slapped with multiple commission cuts: Broker fees, other-side fees (taken by the algorithm for holding a position in the intermediary time between the sell and the buy) then on the reverse trade. For those who don't understand how this works exactly: Inst. traders trade in large volume over the phone to inst. brokers. The brokers buy/sell and take a commission, the Quants take another commission. Then when the market makes a move the brokers take another commission, as do the Quants.
It gets interesting when you appreciate the largest investment banks actually own the majority of the Quant firms, pour tens of billions into developing more complex algorithms and faster networks between their server farms. In addition many banks have brokerage firms as a part of their operations, such as BoA (with ML) and Credit Suisse. Without coming off as too cynical, the severe danger that comes with this one-sided ecosystem is banks have been known to dump and buy colossal quantities of any currency they fancy in less than a tenth of a second, massively destabilizing the currency itself. Equities are small-fry compared with the profit potential of literally manufacturing volatility.
Events such as the 2010 'flashcrash' highlight how detached the Blackbox system has become. $860billion USD evaporated in approximately 8 seconds as conditions mutated into a complete mathematical anomaly and, there's no way not to be dramatic about this, the market vanished. A vanishing market means there are no buyers on the other side of the sellers. The entire market, for ~8 seconds, was selling. This might not sound like such a dangerous situation but remember that in order for a market to be liquid, and stable, you need one end to take up the deal from the other (at any price). Imagine for a moment FB stock went into a freefall to assumed zero and every sentiment metric said 100% sellers. This does not mean every action is a sell action, it just means every action taken by a trading algorithm is a buy action. In other words, the blackbox market is buying 100% of the sold shares. Now imagine for a moment even the algorithms had decided it was not possible to take up any end of the trade. The result is a complete and utter illiquidity in the stock. It would be pandemonium. This did indeed happen, in 2010, only it wasn't localised to one company, rather it was everything: Currencies, Equities, Commodities, Bonds, Interest Swaps.
How does this help you? I believe awareness is the best asset for a trader. The automated ecosystem has many implications, it also explains who takes up the other end of trades. I've had many questions of the topic in the last couple of years and it's not an easy one to explain. Essentially the Vanguard mutual funds, pen funds, estate funds and any other private cap management firm is recognised as the "dumb money" for this reason. They're the only significant entities outside the system and always end up losing more than those on the inside.
submitted by 432parkavenue to investing [link] [comments]

(Early Macro Monday) Blackbox trading and the moment the global market vanished.

Warning: There's a bit of conjecture involved in this topic.
'Blackbox' trading, or Algorithmic trading is one of the least well understood and largest facets of, in particular, the FOREX market. HFT (high-frequency trading) accounts for a staggering 70% of all orders executed. Many of these orders sit at the other end of CFD platforms, they exist to take up the other end of the trade and levee a tiny commission.
As you should know, the currency market is by far the most traded, the top pairs like EUUSD, GBP/USD, USD/JPY are pushed back and forth in high volume on the floors of Goldman, J.P. Morgan and Citi (to name a few) and move billions in this market, part of the essential function of keeping currencies liquid. What many don't realise is this system is probably the most pervasive in the modern financial market. Lets look at a quick hierarchy of how firms interact with buysiders and where the algorithms (and Quants) fit.
Top dogs: The big 10 banks. GS, MS, Citi and the others are the alpha predators. Exchanges: NYSE, NASDAQ, JEG. The exchanges are a gateway between the groups. The feeding ground. Quants: These are the firms which develop and run the algorithms Buysiders: Vanguard, Pension funds, superannuation funds. This group is the lunch. Independent traders: Generally options day traders or CFD users. Lower than an amoeba in the chain. 
The algorithms mediate the other end of each trade, the best way to picture this ecosystem is as an aquatic food chain. Make no mistake, the buyside cap management investors (Pen funds, Vanguard, etc) are the defenseless free lunch. Every trade they place gets slapped with multiple commission cuts: Broker fees, other-side fees (taken by the algorithm for holding a position in the intermediary time between the sell and the buy) then on the reverse trade. For those who don't understand how this works exactly: Inst. traders trade in large volume over the phone to inst. brokers. The brokers buy/sell and take a commission, the Quants take another commission. Then when the market makes a move the brokers take another commission, as do the Quants.
It gets interesting when you appreciate the largest investment banks actually own the majority of the Quant firms, pour tens of billions into developing more complex algorithms and faster networks between their server farms. In addition many banks have brokerage firms as a part of their operations, such as BoA (with ML) and Credit Suisse. Without coming off as too cynical, the severe danger that comes with this one-sided ecosystem is banks have been known to dump and buy colossal quantities of any currency they fancy in less than a tenth of a second, massively destabilizing the currency itself. Equities are small-fry compared with the profit potential of literally manufacturing volatility.
Events such as the 2010 'flashcrash' highlight how detached the Blackbox system has become. $860billion USD evaporated in approximately 8 seconds as conditions mutated into a complete mathematical anomaly and, there's no way not to be dramatic about this, the market vanished. A vanishing market means there are no buyers on the other side of the sellers. The entire market, for ~8 seconds, was selling. This might not sound like such a dangerous situation but remember that in order for a market to be liquid, and stable, you need one end to take up the deal from the other (at any price). Imagine for a moment FB stock went into a freefall to assumed zero and every sentiment metric said 100% sellers. This does not mean every action is a sell action, it just means every action taken by a trading algorithm is a buy action. In other words, the blackbox market is buying 100% of the sold shares. Now imagine for a moment even the algorithms had decided it was not possible to take up any end of the trade. The result is a complete and utter illiquidity in the stock. It would be pandemonium. This did indeed happen, in 2010, only it wasn't localised to one company, rather it was everything: Currencies, Equities, Commodities, Bonds, Interest Swaps.
How does this help you? I believe awareness is the best asset for a trader. The automated ecosystem has many implications, it also explains who takes up the other end of trades. I've had many questions of the topic in the last couple of years and it's not an easy one to explain. Essentially the Vanguard mutual funds, pen funds, estate funds and any other private cap management firm is recognised as the "dumb money" for this reason. They're the only significant entities outside the system and always end up losing more than those on the inside. Yet another reason investing is a sub for plums.
submitted by 432parkavenue to TradingForAdults [link] [comments]

Bitcoin Media and PR

Bit redditors are complaining that Amir Taaki is a childish rep of bitcoin and needs someone more corporate, like Erik Voorhees or Trace Mayer however stop complaining on reddit and do your part.
The bit coin needs good PR and good publicity and more importantly positive Media Representation especially in Western Media.
Understand the trends.
Since bitcoin prices have skyrocketed from $30 upwards. Media agencies such as BBC, CNN have stopped reporting factual events in bitcoin such as the bitcoinica and mtgox hacks earlier to taking an editorial stance for or against it. Most outlets and newspapers have not done their research properly which shows how rushed and sensationalised journalism has become.
Tech and Business news have started to output their views also on bitcoin also highlighting inaccurate events and publicizing weaknesses such as Hacks, Bubbles and laughable bearish views. The Tech news outlets have been pretty favourable and business outlets pragmatically harsher.
Its simple.
News Agencies and Newspapers have hierarchies and therefore their editorial output is determined in a meeting even if the journalist is doing an independent piece as it still have to be editorially approved.
So quite simply if Media proprietors, newspaper and magazine editors and journalists and news anchors actually had bitcoins in their wallets, like the tech journalists have, hence why they are favourable to it, they would naturally promote bitcoins similar to how Goldman Sachs promotes the assets or derivatives they are long on. Most here are long on bitcoin so you need to make sure that Media proprietors, editors and journalists have bitcoins. This includes News Agencies, Newspapers and Magazines and Tech and business news outlets also. In addition to politicians and regulators. Find out everyone connected and send them bitcoins to get them connected. Clearly aimed at early adopters since the new guys cant send out bitcoins that they had to pay large amounts for. It may sounds ridiculous to send relatively affluent people in society bitcoins however the long term aim fully justifies this and I hope most of you read this over again if you do not understand this. These people promote their bias and interest directly and indirectly and still can appear neutral and professional. Get these guys to do our Marketing and PR without paying a PR agency millions of dollars. Just send them a few coins.
Remember Wordpress, Reddit, Mega, 9Flats, Expensify,
Of course a legitimate currency has to be used for illegitimate human vices such as Drugs, Sex, porn prostitution and Gambling.
But Food & Drink, Clothing and Shelter need to be purchased with bitcoin for it to fully function.
So contact or even flood them on email or twitter.
BBC, CNN, Reuters, AP, AFP, AlJazeera, CBS, ABC, Fox, NBC, New York Times, USA Today and Gannett, LA times and Tribune, MediaNews Group, Daily News, Sun-Times, Hearst Corp, Washington Post, Associated Newspapers, News International, GMG, TMG and Press Holdings, Bloomberg, FT and Economist, Tech like Verge, Arstechnica, Wired, TC, BGR, GigaOM, VB, Mashable, Media proprietors, CEO, Chairman, CIO, CTO, CFO, Editors, and Journalists, Also your politicians Senators, Reps and MPs, and Regulators like FinCen and others in US/EU. and finance commentators, strategists and economists - since they put out their views regularly to sheep that follow their every word even if they lie.
No point commenting this guy and that girl gave a negative view or that newspaper or blog is biased. Do something.
Go.
Bloomberg correspondent Sara Eisen, Convergex Group Chief market Strategist Nick Colas , Eurasia Group President Ian Bremmer, Societe Generale Senior Forex Strategist Sebastien Galy, Bob Rice, general managing partner with Tangent Capital Partners LLC, UBS stockbroker Art Cashin, Reuters claim Morgan Stanley and Goldman Sachs traders visiting mtgox Mastercard are watching, Steve Hanke, http://economics.wustl.edu/people/stephen_williamson, Scott Sumner, Tyler Cowen, George Selgin, Paul Krugman, Benjamin M. Friedman, http://econ.williams.edu/people/knk1, Lawrence H. White, Russ Roberts. Paypal is watching, Media Proprietors will call short now but then... Let their greed enable us.
The greed is unbelievable. http://techcrunch.com/2013/04/05/why-do-vcs-care-about-bitcoin/
submitted by catoeisen to Bitcoin [link] [comments]

The forex market structure hierarchy is divided basing on the classification of participants, their motivation, regulations and the level of liquidity they hold at each level. Forex Market Structure Hierarchy. At the top is the inter-bank forex market. These are the major banks and large commercial banks. Even though the Forex market is decentralized, there is still some sort of hierarchy. At the top of the Forex market is the interbank market (all mentioned in above video). This is a group of the largest banks over the whole world and some smaller banks. These participants’ trade directly with one another or through EBS (Electronic Brokering Services) or Reuters Dealing 3000. Next in line ... Forex Market Hierarchy: At the top of the fx market hierarchy ladder is the interbank market. Composed of the largest banks of the world and some smaller banks, the participants of this market trade directly with each other or electronically through the Electronic Brokering Services (EBS) or the Reuters Dealing 3000-Spot Matching. The competition between the Reuters Dealing 3000-Spot Matching ... Hierarchy of Participants. The forex market structure may be represented as shown below − Market Participants. In the above diagram, we can see that the major banks are the prominent players and smaller or medium sized banks make up the interbank market. The participants of this market trade either directly with each other or electronically through the Electronic Brokering Services (EBS) or ... Forex Market Hierarchy. The top box in the forex market hierarchy is occupied by networks formed by major bank transactions, called interbank. Major banks are for example Citi, JP Morgan Chase, UBS, Deutsche Bank, Goldman Sachs, Barclays, HSBC, Morgan Stanley, and so on. The Interbank network consists of world central banks, major banks, and several smaller banks. They all trade directly with ... Hierarchy of the forex market. Banks and retail traders are not the only ones who contribute to the Forex Market. In fact, there is a linear organization in the contributors to the forex. The hierarchy for the same is given below based on their significance in the market. Major Banks ( Central banks + Top Commercial Banks) Electronic broking services (EBS) Reuters dealing; Medium-sized banks ... Forex Market Hierarchy. Interbank Market is located at the very top of the forex market ladder. Most of the participants of the forex market include the largest banks of the world and some smaller banks. They trade directly with each other or electronically through the innovative Electronic Brokering Services or through the Reuters Dealing 3000-Spot Matching. The EBS or Electronic Brokering ...

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