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What Futures Are, How They Relate To BTC and How To Make A Little Money - a brief treatise. Fuck Danny.

Wrote a brief ELI5 here that brought to my attention a lot of folks in my new BTC family don't understand the concept of a futures contract (and likely derivatives in general) or are just generally traditional-financial-instrument ignorant and so I'd like to do this new family a little service and write up a simple guide. You all can wikify it if you like and I might make a video because I have a very good explainy-voice and can do fun accents and maybe someone would like to animate it or something.
The recent opening of the CBOE and CME futures markets - and the first of the big investment brokers allowing trading on their hugely popular platform (TDA I am so proud of you!) - is a huge deal. It's a giant step forward to legitimizing Bitcoin as a financial instrument / tradeable asset in the eyes of the general public. It's about as big as the Japanese government endorsing Bitcoin and installing ATMs in their train stations, which was the catalyst that set off the meteoric bull market we saw in the last few months.
More futures exchanges will be opening soon, including an international exchange between Japan and the USA(!!!!), and so you can expect to see a LOT more trading activity. I would not be surprised to see actual Bitcoin-deliverable managed contracts within three years at the latest. I'm not psychic, I've been wrong before, but I generally keep my guesses conservative and so I've been lucky enough to be right more than wrong. It seems to me that worldwide, cross-border trading is not far away. The good news here is that this will cause international arbitrage opportunities caused by wide price gaps to vanish quite quickly. That is also the bad news. The other good news is that this will make Bitcoin quite a lot more stable. This is also the bad news. Ha... everything's perspective, after all. But the great news? We're getting to the point where we will soon be able to sit back on our fat American and European asses and buy chocolate directly from an African farmer, Coffee directly from a South American and sell our electronics to each other without middlemen or interference and give everyone a much, much fairer price. We can start to end the slavery of imbalanced capitalism... ah what a time to be alive. Alright folks, enough of a foreword. Fuck Danny, let's begin.
This will be in two parts.
  1. What Are Futures (and how they relate to bitcoin)
  2. How To Make A Little Money
What Are Futures?
The simplest way to put it is that a futures contract is an agreement to buy a thing (a commodity) at a specific price on a specific date. The date comes, you pay that price, you get that thing. For example you promise to buy Gold at $1000 an ounce on January 18 (one month from this posting) and someone else promises to sell you gold at $1000 an ounce on that same day. Come 1/18 the price of gold is $900 you're paying a $100 premium on it and the seller made an easy $100. Same day comes but the price is $1,100 and your positions are switched. It is you who gets $100 extra gold instead of paying $100 for the same amount. Reread that last few sentences until you get it.
OK, so a futures contract can be written between any two people or entities like any contract, right? Right. Right, right? Right! OK. Do not go to a bar and sign a contract written on a napkin because it is fucking binding. It may not hold up in court without witnesses but technically it is a legal contract. So you've probably heard of futures exchanges. What are those? Simply put, it's a big marketplace. But there's more to it than that. A futures exchange is regulated by the laws of the financial departments of the country it operates in. The contracts they agree to buy and sell are standardized within that exchange and, in the case of internationally traded commodities like gold, chocolate, coffee, sugar, cotton and a million other things these contracts are standardized across exchanges as well. Each commodity has its own conventions. One may be settled every three months with the prices being announced every month, another may settle every six months. They may represent 1 ton or 100 tons and they all have their own personalities. Some are frenetic, some placid. Some change with the weather - like agricultural - and some change with news - like steel.
So, exchanges. Exchanges create a big market where everyone knows they can go to buy and sell futures. This creates traffic and trade volume. The exchange facilitates the trading of contracts between parties but they don't only match buyers and sellers up - they are buyers and sellers, on mass. You see, they offer these standardized contracts that you 'sign' by agreement (clicking or phoning it in). If 1000 people are buying contract X every day and 900 are selling contract X every day then the exchange can be pretty darn sure if it buys contract X now that the price will be rising and it will be able to offload them to the eager buyers. And since it is the exchange, it gets those sexy first dibs.
Exchanges do their business for a lot of reasons but the most straightforward one is commissions. Every trade creates money for them and they take no risk on it as long as they can offset a buy with a sell and vice versa. They may hold a buy or sell on contract X for a millisecond and meanwhile only change the price every hour. This is great money. On the other side of the coin since they have all the information on all the data of buying and selling they are in a prime position to do some high volume trading and make money. Do not make the mistake of thinking the exchange is necessarily your friend. They want the trading to continue and so of course they want people to make money but this is one game where the casino can sit at the table. And they do have that edge. They can get rid of any position at any time, so they have no fear in buying or selling.
OK, so how does a futures contract relate to BTC? BTC contracts are settled in cash, not in goods. That means the competing parties on a contract only exchange money relating to the price difference of the bitcoin not the bitcoin itself. This bears repeating: If you buy a JAN18 contract for bitcoin at $19,000 and JAN18 comes and Bitcoin costs $20,000 you will receive $1000 cash (in your account) not 1 BTC and $1000. Make sure you get that. Make sure you understand that. SERIOUSLY. It's super important for the 'how to make money' bit coming up shortly.
So in the past (and present day, which is seeming more and more like the past as time marches on implacably towards the heat death of the universe and woe betide mortal man for we know not what we doooo) futures contracts were a way for a producer and a consumer to agree on a price later. Baker has his formula down so he makes money on his buns if wheat flour costs $1 a bag. Miller agrees to sell it for that $1 a bag for 1 bakers full of flour (say 1 ton or whatever). Miller goes to farmer and agrees to buy 1 tons of flour's worth of wheat for 90 cents a flour bags worth. Harvest comes, farmer delivers to miller, makes flour, baker buys flour, everyone wins. Everybody makes money. Farmer says he needs another 10 cents per bag next year, miller passes that on to baker at the next negotiation and the price adjusts. And so on the steady march of inflation and industry.
Now think about gold. Say the primary reason to buy the gold contract was to immediately sell the gold for money, not hold it to make watches or gangster teeth. In fact it would be a pain in the ass to have to take possession of a ton of gold. OK, just pass the money back and forth instead. Such is the case with bitcoin.
So now you understand that if you go to an exchange to buy or sell a futures contract what you're buying or selling: A standardized contract for the price of bitcoin at a future date (say 1, 2 or 3 months from now). Now understand the data you're presented with will be the current price, trade volume (or at least you should be, haven't looked) and the changes from one minute (or few minutes) to the next. You understand you're buying from or selling to the exchange itself and they will find a counterpart for your buy/sell or hold the opposite position themselves because they think they'll make money off it. You also understand that you do not deliver or receive bitcoin but only the difference between the price of the coin and the settlement price of the contract on the settlement date. Last thing to understand is that you don't have to keep the contract. That's the part that makes it 'trading.' The contract ends in 1 month. Cool. So you buy it when the price for JAN18 is $20,000 and then Bitcoin itself rises in the interval and the price of JAN18 futures goes up as well, you can sell that. You can sell it right the fuck away. Or hold it. Depends what you think will happen later. What's this mean for bitcoin?
Well, as you can probably put together from the previous paragraph what futures (and other derivatives) are great for is measuring market sentiment. Remember the exchanges need people to buy and sell. If they are able to sell a lot of contracts they get a lot of commissions. If not, not. And the more trading the less risk they have on their own positions because they can liquidate at any time. Think of it like if you have a ton of cocaine. Cocaine is expensive as heck, sure, but you notice the price goes down in gross or bulk right? Because it's fucking hard to move cocaine, isn't it? Nobody really wants to have a ton of cocaine. They want to SELL a ton of cocaine. Of course with cocaine the price will probably always be high and getting higher. With something like Bitcoin that might not be the case. I am bullish on Bitcoin for the long term, but still - it's a risk. So the exchanges price their futures to move. They find that sweet spot where an equal(ish) number of people will buy and sell. So the future price of a contract, you can assume, is where most of the market believes the price will be at the time of expiration.
How else does it relate to bitcoin? Ah, you will soon see because here is part 2 - how to make a little money.
Part 2 - How To Make A Little Money
Now, this part of the lesson isn't really aptly named because, truly, you could get insanely rich with at least one of these strategies if you're highly liquid. Let's do a short thought experiment. First, have a sip of coffee or water or tea or your beverage of choice and clear your mind a little.
I want you to imagine you are standing in front of an green grocer selling spices. You are looking at whole dried black pepper, called the king of spices because it is, as a commodity, the most widely traded and stored and sold spice in the world. It never spoils if stored properly and it's beloved around the world. You can buy this pepper for $100 a barrel. You believe this pepper is great and the price may rise so you buy 10 barrels on the spot - heck you can always cook with it, if you can't sell it - and give the happy grocer $1000 and go on your way expecting delivery at your gourmet spice shop tomorrow morning. On the way to the cafe to meet your sexy belly dancer date you spy an importer exporter with a sign in his window: Buying black pepper (whole) $150 a barrel on January 18. That's just 1 month away. You can make $50 a barrel on the pepper you already bought and all you have to do is hold it in the back of your shop for 29 days. Hot damn!
You march right into the office, sign a contract to deliver 10 barrels and leave $500 richer. You're walking with a big smile on your face just ready to brag to your belly dancer about the new nipple tassles you'll be buying her when you stop short. The grocer... You can go back there right now and repeat the process. As long as that grocer has pepper and this exporter is hungry for it you're the middle-man king of Calcutta! Hell there are farms everywhere, you can get rich this month!
So it is with Bitcoin. You can buy bitcoin right now. And you can sell it right now for more than you bought it for. And just like with cocaine, black pepper or dragon piss you're limiting your profit but guaranteeing it. Your black pepper, in the barrel and sold by the 1 oz bag is worth much, much more money than the 50% profit the exporter offers. The cocaine? Holy shit. Dragon piss I don't know, I prefer unicorn. But if you think about it - what's the stop you, other than your liquidity, from infinitely churning the contract?
The high price on the JAN17 contract during yesterday's trading was $20050. All through yesterday you could have bought bitcoin itself on coinbase for between $18,000 and $19,000 meaning you could have hypothetically bought 1 bitcoin and turned around and sold the JAN17 contract and made $2,000 ~ $1,000. And the amount of times you could have done that would be limited solely by the amount of money you have to do it with. And, yeah, the rules of the CBOE which has a limit on the number of contracts you can have, how much margin you need, etc. However, you should be able to post your BTC to them to show you have no issues with margin. After all - you own the coin itself. Your risk is limited. The price shoots up to $100,000 on JAN17 you can cry that you sold the contract on your beautiful coins but pay the difference all you have to do is sell those coins and use your 20 $100 bills to dry your tears. Conversely if the price of BTC should fall to 0 in that same time then some poor shmo owes you $20,050 and you still have the BTC to hold on to at night to keep you warm as it again rises in price. Get it?
OK, so that's one way to make a little guaranteed money. The price of the future is higher than the asset, buy the asset sell the future. Guess what you do if the price of the future is lower than the price of the asset?
So now let's say that the market is bearish on bitcoin and the JAN17 futures price is $15,000 and the current price of BTC is $17,000. Let's say you sell 1 BTC and buy the JAN17 contract. Well you've just spent $15,000 and made $17,000 for a profit of $2,000 and... now... you... wait. JAN17 comes and the market was right. Fuck Danny. The price of Bitcoin on JAN17 is lower than $15,000. Sheeeeit. Fucking Danny. Good news though, you have $2,000 to comfort you. Since you promised to buy the Bitcoin for $15,000 and the price is over $13,000 your $2000 is enough to cover your loss and leave you a bit of profit to boot. Nice. Naturally, if the price fell below $13,000 you'd have to eat the difference.
Perhaps you're starting to see how you can adjust your position with futures and assets to account for any market condition that may arise to secure yourself a profit no matter what may transpire. Sure enough, this is true. The only thing limiting you is your liquidity - aka how much filthy dirty evil money you have - and of course that's why the rich can't lose unless they gamble out of their depth. And it's also what makes it so hard for regular folks to do the sort of things I'm describing. Until an exchange comes along with micro-contracts or regular folks get together to create bitcoin funds together that's just the way the cookie crumbles.
Don't forget - you can hold the contracts or liquidate them along the way. Of course, if the price is moving in the direction favorable to your position you make money closing the position... and won't want to. And if it's moving the opposite way you lose money closing the position... and will want to. Such is the irrational nature of the speculator.
Next time: "Net Short vs. Net Long, You Should Know This Shit Already."
submitted by DeucesCracked to Bitcoin [link] [comments]

Merchant mondays

Welcome back everyone

Merchant mondays is the moment to show your appreciation for the businesses that lead the way in the adoption of cryptocurrencies. Instead of paying with fiat for your next purchase, use this Monday initiative to pay with VTC instead.
Vertcoin Merchant website
Say hello to Sheldon Store
The Sheldon Store is a online store where you can buy giftcards with Cryptocurrencies. You can buy Amazon, iTunes, Google Play, PlayStation, Uber, Netflix (and many more) gift cards.

Debit cards

With UQUID, buying online and sending money to friends is made easier and safer than ever: all you need is an email address. Your money is protected, no personal information is revealed, and you can retrieve the details of every payment at any moment.

Charity

Helperbit is a free and transparent way to support a charity project. You can donate to charity in Vertcoin and give something back to the world.

Education

LearnCrypto offers training about Crypto trading.The team at LearnCrypto.io has dedicated thousands of hours to educating the public and our students in all areas of Cryptocurrencies.

Food

PexPeppers is specialized in "finest chili sauces, jellies, salts, seeds & more." Based in Pueblo, Colorado, USA PexPeppers is selling all over the world.

Gambling

Vertcoingames: "Play Roulette, Dice, Blackjack and Video Poker using Vertcoin. Great games with fair, casino level payouts."

Garden & Agriculture

Royal Queen Seeds is amongst the fastest growing cannabis seed companies in Europe. After building up many years of experience in growing cannabis seeds in the Netherlands, we decided to launch our own line of cannabis seeds and are now able to offer you quality feminized, autoflowering and medical seeds at a good price.

Gift Cards

Coincards provides Giftcards and was created in July of 2014.
Crypto De Change provides Gift Cards and Silver Buillons since July 2013.
Giftoff is a "digital gift card retailer with the largest range on offer in Europe. Since 2014 we’ve been enabling digital currency users to shop with major retailers like Amazon.co.uk, Steam and Marks & Spencer. We stock over 70 gift cards and accept over 40 digital currencies as well as UK credit and debit cards."

New

The Sheldon Store is a online store where you can buy giftcards with Cryptocurrencies. You can buy Amazon, iTunes, Google Play, PlayStation, Uber, Netflix (and many more) gift cards. The Sheldon store team consists of cryptocurrency enthusiasts working together, driven by a single goal; to create a world where everyday people earn, spend and invest cryptocurrency like they would any other fiat currency in their everyday life.

Goods/Merchandise

Astronaut Apparel makes every effort to operate in a transparent and ethical manner. We will be integrating blockchain features to help with supply chain management, so that you can see exactly where your apparel was made.
Barter4Crypto is a platform where users can offer and pay each other in cryptocurrencies for services and products.
Bullcrypto is a brand new apparel shop that sells everything from tshirts to hats or from mugs to posters!
An online marketplace (similar to Ebay) with buyer and seller protection. This platform allows you to buy and sell products for Crypto with escrow possibilities for Vertcoin.
Cyroline is on "the tireless hunt for the special in the fashion world, the perfect fusion of individual styles, quality and sustainability." In physical stores you can pay with Vertcoin in Germany: Lübeck, Berlin, Hamburg, Cologne, Stuttgart.
Crypto Affect provides "Clothing for the hodler", crypto related fashion.
C&P provides crypto related fashion and is "shipping worldwide with live rates and tracking."
"Cryptobird is a partnership to start a full crypto based webshop with high quality fashion to contribute to a wider cryptocurrency adoption around the globe."
Crypto Compound provides "cryptothemed items" like fashion, mugs & more.
Cryptoble provides "apparel and more". Here are crypto related shirts & mugs.
A webshop selling Crypto mugs (obviously) and some other cool items such as Tshirts and Drones.
Epic Pants is an online retailer who sells products in the categories hardware, apparel, styles, gear, fun, music and art.
GeekBox "offers a wide variety of services including but not limited to basic computer setup, repair, virus removal, server setup, network setup, consulting, purchasing, cloud computing advice, gaming system and electronic repair." As a nice special GeekBox IT provides a Vertcoin Tshirt.
Hipptee provides a range of different cryptocurrency tshirts.
Hodler Tees is a cryptocurrency centered tshirt company based in Frisco Texas! (USA) We sell all things crypto related from hats to tshirts and even posters!
KPV provides Vaporizers, "electronic devices that help you vaporize your material into vapor for cleaner inhalation. People looking to quit smoking cigarettes are the main reason behind vapes."
LP is an online store and community. We service the world, no order is too small or too large.
Luma Cards is selling greeting cards for all kinds of occasions. You can now buy high-quality art-based greeting cards with Vertcoin.
"At Nakamoto Clothing, we're passionate about designing and curating a selection of apparel to help grow this movement of change. And we're electrified AF!", international shipping.
Quinsolo proudly accepts decentralized cryptocurrency payments for their crypto themed products.
Online marketplace selling crypto embroided polo shirts
Spreadshirt provides shirts and more. Based in Greensburg, USA, the owner comes from the Netherlands.
Shillshop provides stickers in outdoor quality and is "based in The Netherlands, all the products we sell are also produced in The Netherlands to make sure you'll receive the highest quality!"
Teepublic provides apparel, home goods, shirts, stickers, mugs & more.
RB gives "independent artists a meaningful new way to sell their creations. Today, we connect over 400k artists and designers across the planet with millions of passionate fans." RB provides a huge asortiment of designed products like bags, wall art, home decor, apparel, stationary & more.
VTCmarket is founded by the Dunn twins Raf & Tom: "We’ve started off with Tshirts and are working on expanding with other products and merchants"
Jzzsxm's Online Store provides a 1.5" diameter metal Vertcoin Medallion. Each medallion costs 2 VTC and comes with a metalized label containing a wallet address QR code of your choice affixed to the back.
WikiLeaks is a multinational media organization and associated library. It was founded by its publisher Julian Assange in 2006. The shop provides shirts, posters and asseccoires.
Zazzle is a "marketplace, you'll find customizable products, art and createyourown products just waiting for you. We're PhD's, professional artists, manufacturing gurus, patent holders, inventors, musicians, and more. Everything we do is an expression of love." As a nice special Z provides Vertcoin shirts.

Medical

Acupuncture in Massachusetts

Multimedia Services

RDS is Central Virginia’s drone service specialists. From preparation to content delivery, we perform all work to perfection. We can act as both an aerial film consultant or as the remote pilot in charge on your next projects.

Professional (law) Services

Burrell Law "Our New York Citybased attorneys provide a broad range of transactional legal services" Every large business was once a small business. We are here to help you find a solution for your legal needs.
Bitcoin Tax is "calculating capital gains/losses for any cryptocurrency. Do you know the costbasis of every coin you own? Are you tracking the profits and new basis when you spend or sell? Can you work out the best way to identify your trades to optimize your taxes? Let us do it for you."
The Crypto Lawyers "we are a team of U.S. qualified lawyers dedicated to helping individuals, businesses, and organizations navigate the legal intricacies of cryptocurrency and blockchain technology. We commit ourselves to strategically and aggressively represent our clients in their transactional and litigation matters."

Printing

"Catdi is a commercial printing company with additional specialization in web design. Offering costeffective commercial printing, direct mail, graphic design and web solutions to small businesses. Proudly Serving Houston and surrounding communities for over 10 years."

Technology & Internet

AirVPN is a VPN based on OpenVPN and operated by activists and hacktivists in defence of net neutrality, privacy and against censorship.
With Crpto.space, you can get all the information you spend time checking, instantly every time you open a browser on your desktop or mobile device. Premium package includes the vertcoin homepage and wallpapers.
Jagoda (strawberry) is a videogames platform aiming to distribute digital services for cryptocurrencies that show a direct interest in social activism on different layers.
Evolution Host is a hosting provider where you can pay with Vertcoin. They offer VPS hosting, IRC hosting and game servers on several locations around the world with highend hardware.
"FastTech is the technocentric destination for all your geeky needs and more. FastTech is committed to become the most loved and trusted electronics marketplace by offering superior shopping experience, timely shipping, and stellar customer service."
The first GPS tracking company to accept cryptocurrency as payment. Easy to install and easy to use with options for just about any type of vehicle or trailer.

Video Games

Cavemen Studios is a developer of video games. "Having over a century of combined experience on how video games tick, we've finally decided it's time to start creating our own products."
"Keys4Coins is one of the first pc game stores who only accept cryptocurrency as payment. Our store is simple to use and you can shop anonymously. Only an email is required so you can receive the license."
"Our aim is to provide the fastest, easiest place to buy Xbox Live Gold subscriptions with cryptocurrencies"

Wallets & miscellaneous

Designed Vertcoin public and private wallets that can be used as paper wallets or given as gifts.
LaserLightning provides one etched wooden Vertcoin with the Vertcoin logo burned into one side, and your custom QR code on the back. These coins are approx 1.5 inches in diameter.

(NSFW) Adult shops

Toys4Sex is Australia's Online Adult store retailer intended for men and women. Toys4Sex comes with a specially selected range of products that has made its mark within the Australian adult market place.
submitted by thatmanontheright to vertcoin [link] [comments]

Merchant Mondays

Welcome to another Merchant Mondays!

Show your appreciation for the businesses that lead the way in the adoption of cryptocurrencies. Instead of paying with fiat for your next purchase, use this Monday initiative to pay with VTC instead. Did you buy anything with Vertcoin recently? Please share your experience.
Vertcoin Merchant website
Let's take this Monday to reach out to your favorite online stores that do not accept Vertcoin yet. Stores that accept crypto but not VTC are a quick win. Check my last post for some info on accepting payments.
This week we started adding descriptions for the webshops. I will keep updating them over the next few days. Below is a list of merchants that accept Vertcoin as payment (credits: u/Wauri12\ - he provided the descriptions and a big part of the list).
If a business should be added to or removed from the list, let me know!

Debit cards

Education

Food

Gambling

Garden & Agriculture

Gift Cards

Goods/Merchandise

Medical

Multimedia Services

Professional (law) Services

Printing

Technology

Video Games

Wallets & miscellaneous

(NSFW) Adult shops

submitted by thatmanontheright to vertcoin [link] [comments]

Derivatives will kill us all!

My first RI!
I brought this up here a few weeks ago but I thought it was worth expanding on. Our exhibit of badeconomics:
BIS says there are $1 quadrillion in derivatives right now on earth. The last time there was this much in derivatives was before 2008. The banks made sure they can take your money if they crash in the last budget bill passed by U.S. How much is $1,000,000,000,000.00? If one dollar = one second. one million dollars = 12.5 days one billion dollars = 30 years one trillion dollars = 30,000 years one quadrillion dollars = 30 million years When derivatives collapse, you will finally understand that sea level and earth temperature rises will be the least of your worries, unless a resilient high pressure block parks its ass over the mid-west this summer. Because if it does, world starvation will begin. Don't forget that the U.S. government sold off its grain reserves in the last recession.
Admittedly this comes from /collapse, so I feel almost mean picking on this (the other post I made was criticizing Bloomberg News for misusing the figure we're going to talk about). Also apparently agriculture will collapse in 50 years. But I wanted to talk with you about derivatives, because I worked with them for 6 years and I find them endlessly fascinating.
The Biggest Number You'll Ever Hear
One thing that is true about this (and perhaps the only thing) is that the notional value of the world's derivatives is probably the single largest money value you can meaningfully talk about in finance and economics. The world's total debt, for perspective, is about $200 trillion, or 2.86 times global GDP.
If you google "derivatives quadrillion" you will get a lot of posts from people sharing our friend's view with varying degrees of breathless panic that the sheer size of this number will bring down the global economy. (Saying that it will end civilization, though, is new to me.) This quadrillion figure purports to be the notional value of the world's derivatives, and our friend is kind enough to cite the BIS, the Bank for International Settlements. The BIS is an international financial institution predating the IMF and World Bank sometimes called a "Central Bank's Bank" because it, well, settles international finances. If you've heard of the Basel Agreements (such as Basel III), which are at the core of international financial regulation, the reason they're called "Basel" is because the BIS lives in Basel, Switzerland.
Anyway, one thing the BIS does is count up all those derivatives. You can see the BIS data here. Indeed, you will see an eye-wateringly large number there: $552 trillion notional value for the world's derivatives (again, compare that with $200 trillion in global debt). That is down from $710 trillion in 2013 but a far cry from one quadrillion dollars.
That $552 trillion figure refers to OTC (over the counter) derivatives. There is another variety of derivatives - "listed" or "exchange-traded" derivatives. The BIS calculates an additional $63 trillion open interest in listed derivatives. Open interest is a comparable figure to notional value for listed derivatives.
If you don't know what OTC and listed derivatives are, don't worry, the difference is an important part of our story that we'll get to.
The BIS excludes certain types of popular listed derivatives from this total for some reason, including the kind of derivative that most people have heard of: stock options. The Office of the Comptroller of the Currency (OCC) provides reports on US derivatives exposure: out of $181 trillion in notional value US derivatives, $3.4 trillion are stock and commodity derivatives, so we aren't missing much.
I've Got a Notion Of A Notional
So what is notional value and why is it coming to kill you?
Financial derivatives are about being derived from something. The something is called the underlying of the derivative. Roughly, the value of that underlying is the notional value.
There are many fancy variations of derivatives, but there are three basic kinds: forwards, options, and swaps. The simplest one is a forward contract, which is just an agreement to buy something at a certain price at some point in the future. I'll give the same example I gave a few weeks ago:
Say we have a forward contract for one barrel of oil. This agreement says you will buy a barrel of oil for $30 from me in three months. The notional value of this contract is $30. If oil ends up costing $31 when the contract is due, you are able to pay $30 for something worth $31. The value of the contract then is...not $30 (the notional value), not $31 (the spot price), but...$1.
At the time the contract expires and you have to pay for the oil, this contract is just a coupon for $1 off on a barrel of oil. You're still obligated to pay $30 for the oil, but the derivative itself is only worth that $1 coupon.
If you had wanted just the option (not the obligation) to pay, you could have bought...an option. I won't get into options because this is already really long although options are way more fun.
I Just Wanna Sit Back And Unwind (My Forward Contract)
You might say, "Well, Sporz, fine - the contract itself is worth $1, but I'm still obligated to pay up $30 (notional value) for the oil. So it's still relevant?"
Yeah, and if you actually do hold it to maturity, you have to accept delivery of that barrel of oil and pay. But there is a way to get out of it and just pocket your $1 without actually getting a barrel of oil: Sell the contract. In fact, sell it back to the person who's giving you the oil for that $1 that it's worth (who will just rip it up, what's the point of delivering oil to himself?) Now there's no $30, just that $1 that changed hands - and nothing to do with the notional value!
"Sporz, that's insane!"
It is a little convoluted but it works. It works so well that the vast majority of contracts are unwound this way.
You may be wondering why you would bother doing this if you didn't actually want to buy or sell oil. One answer is that you could be just speculating on the price. The other is if, say, you're an airline that wants oil, or an oil producer selling oil - you get the ability to fix the price ahead of time rather than worrying that, when you need oil the price will be sky high or rock bottom. This reduces your risk substantially. A lot more oil producers would be bankrupt now if it weren't for these handy little hedges. This is why derivatives are so important and valuable and how they can make the world safer.
"But I still need oil!"
Yes, but not oil in Cushing, Oklahoma.
Back To The Future (Contract)
"Why are we in Oklahoma, Sporz?"
So, a forward contract like the one we made is an over-the-counter (OTC) derivative. OTC derivatives are nifty because you and I get together, decide on a custom price, and a custom location for delivery. The problem is that this is expensive (we're hammering out a very custom contract and I am a very expensive banker), you're dependent on me still being in business when the contract is due (I may be very expensive, but I also could be very incompetent), and if you want to get out of it, either I'm feeling nice, or you have to find someone else to take this very special contract and that can be hard. People still do this sometimes (Pemex, the Mexican national oil company, hedges using OTC oil derivatives) but you can see some problems.
Futures contracts are closely related to forward contracts. The difference is that they are listed derivatives - instead of calling me up and hammering out this very custom contract, you go to a big exchange, like the New York Mercantile Exchange (NYMEX) and buy the contract there.
The contract is completely standardized: the oil (West Texas Intermediate) gets delivered on specific dates, and at a specific place (Cushing, Oklahoma).
"But I want oil in Ohio."
The price of oil in Ohio is going to be pretty close to what it is in Oklahoma. (The difference is called basis risk). But close enough. So you close out your NYMEX contract and pocket your $1 and pay about $31 in Ohio for oil. Net, you still managed to pay $30.
The benefit is: Because the contract is standard, many people want to buy and sell them, so you shouldn't have a hard time getting out if you want. Also, you aren't contracted with me specifically. If you want to buy, and I want to sell, the exchange will contract with us both. Your counterparty isn't me, the incompetent banker who might disappear tomorrow, but with the entire pool of buyers and sellers at the exchange.
The other thing is margining and daily settlement. Obviously the exchange doesn't want to pick up the tab for me being a deadbeat if I can't pay in three months for that $31 barrel of oil. So I have to keep some amount of cash in a margin account at the exchange to cover me. Each day, the contract is settled as if I had closed it - if the price went up, I have money taken out of my account. If the price went down, money gets put in from yours. If I don't have enough money in my account, I face a margin call. (Awesome movie by the way, you should see it - ironically there is no margin call in it). If I don't make the margin call and top up the account, my position is closed immediately for being naughty.
"What does this have to do with notional values?"
It doesn't. It has to do with making derivatives safer (almost to the point of paranoia at times). So derivatives won't blow the world economy up like our friend thinks they might.
So, how big is it? Really?
So we've talked about the benefits of derivatives (being able to hedge risk), things that can make derivatives less risky (margining, daily settlement, and central clearing - we'll come back to those). And that notional value is not a good way to measure the size or risk of derivatives. So what is a good measure?
One way to think about it is, if we see that notional value can vastly overstate the size of a derivative (our $30 notional, $1 value forward contract again), we can think about the market value. Our forward contract has a market value of just $1.
It's also worth noting that notional value could (in rare cases) be less than the market value. If oil had risen to $90, the contract would be worth $60 - on a $30 notional. But this is rare and (for reasons I'll get to) statistically impossible for derivatives as a whole.
If we go back to our favorite BIS report you'll see a figure for "Gross Market Value" which is just $15 trillion rather than the $552 trillion for OTC derivatives. That's a huge difference, I don't have to tell you - $15 trillion is a big number but not nearly as mind-boggling as half a quadrillion. This is essentially the difference between the $1 and $30 values for our forward contract.
But it gets better. Let's look at our favorite OCC report, the one that talks about American derivatives.
We start with that $180 trillion notional, and there's a "Gross Positive Fair Value" (this is like "Gross Market Value") of $4 trillion. So, great the US's derivatives are a lot smaller than notional would suggest too.
But let's imagine that you're a bank now and you have lots of deals. Lots of these deals offset each other, though - one derivative I have with you might be worth $1M, the other might be worth -$500,000. If you or I go bust, it isn't $1.5M down the drain - just the difference, $500,000. This difference is net current credit exposure (NCCE).
That NCCE is just $500 billion for the US. So out of that $4 trillion worth of derivatives out there, there's enough offsetting going on that there's only $500 billion on the hook.
NCCE can change dramatically (It went up to $800 billion during the crisis) but it's pivotal to estimating the magnitude of derivatives as a potential economic risk.
You just make me wanna SWAP!
"So, Sporz, I was reading your favorite BIS report and I noticed you haven't talked the biggest part - $434 trillion in interest rate contracts. WHAT ARE YOU HIDING!?"
Calm down! I'm getting there!
The fun thing about derivatives is that they mix and match. You want a forward contract buying Euros intead of oil? You got it. An option on a commodity? Sure. An option on a future on a basket of options on a basket of stocks? Go nuts.
As you may know, interest rates are kind of important in finance. Like the oil price, interest rates move, and like people sometimes want to bet on the oil price or lock in a price that they find preferable to tons of risk, people want to do this with interest rates. A lot.
By any measure, interest rate derivatives are more popular than any other category of derivative. More popular than the rest of them combined, even.
So it's worth talking about them.
The characteristic feature of a swap is paying repeatedly for something. Our forward contract just had us pay once; a swap on oil would have me paying each month for a barrel of oil for say $30. (Like the forward contract, this is rare for crude oil - you'd rather buy a bunch of crude oil futures and pay those each month for that sweet, sweet Oklahoma oil).
A typical interest rate swap will have two sides - one will pay floating, the other will receive fixed. These are called the "legs" of the swap. The floating leg will pay every three months whatever the chosen interest rate is (say, 3 month LIBOR - yes, that LIBOR) The fixed leg will pay a fixed amount over the life of the swap. This is useful because if - say - you're being paid a lot of variable rates and worried they'll crash, you can trade that out for a known fixed rate and then you are safe and happy.
This is very common but swaps (like all derivatives) can get super fancy. Add in a few more legs, a collar, a call, some cross-currency risk, and now we're talkin'.
Interest rate swaps are important not just because of their enormous size, but because they are OTC. Like our original forward contract, these get sketched out between counterparties and are highly customized. In the past, these had some of the problems are forward contract had - you may find it hard to get out of this swap if you want to, and you're dependent on me, your sole counterparty, to pay up and if I don't show up then you are sad, lonely, and out of a lot of money.
Some of those things that make listed derivatives safer have been applied because of The Recent Unfortunateness to OTC swaps. There are now Swap Execution Facilities to, er, facilitate swaps. Specifically, swaps now have to be centrally cleared (kind of like the listed derivatives) which reduces dependency on a single counterparty. There are also margin requirements to make sure that the swap gets paid. This is intended to reduce the systemic danger of swaps blowing up.
So credit. Very risk.
Even if you've never thought much about interest rate swaps, you might have heard of credit default swaps.
These have a fun story. Swaps have been around in bulk since the 70s; options around the same time (thank you Black-Scholes); forwards are ancient. Modern credit default swaps were invented by a lady named Blythe Masters at JPMorgan in 1994 because they were worried that Exxon wouldn't pay a debt to them because of the Exxon Valdez disaster.
Credit default swaps (CDS) are usually described as insurance. They're called "swaps" in the name but they do not taste like swaps. The typical interest rate swap will see both sides make money at various points during the life of the swap (usually) and it will not be very much (remember - you make the difference between two different rates, which is unlikely to be very much). A CDS looks like this in that one side pays for protection ("protection buyer") and the other side sells it. The protection is on some debt some company owes (say, Exxon). As long as Exxon keeps paying its debts, the protection seller just keeps getting paid, and if everything is hunky dory, the protection buyer might never get paid back anything at all.
If things go pear-shaped, though, the protection buyer gets to cackle with glee and sell some worthless bonds for full price to the protection seller. Then the swap ends, and the protection seller is very sad.
One thing that makes this different from insurance is that I can't insure your house (unless I live there. Can I?) And I can't insure it multiple times hoping that it burns down.
"Well that's creepy."
Yep.
It's not quite as creepy as it sounds, though. For every "I hope his house burns down" there is an equal and opposite "I hope his house stays pristeen and perfect and only lightly singed." This is not academic - there are things like The Curious Case of the CDS and the Spanish Casino in which the company was made to technically default, trigger the CDS, and go on happily. It has been described as "objectively beautiful." It made The Daily Show.
No talk of CDS is complete without AIG, though. You'd think an insurer would have done better than insure the hell out of all the bad debt in the world, but that happened.
I bring this up not to bury CDS but to praise it. Derivatives are tools. They can be used for good and ill. The key is to make them good rather than throw out a potentially valuable tool.
The main challenge with CDS is that (unlike normal swaps) they have the potentially to blow up in a big way. For years you make a few pennies a month selling protection then one day you discover you've been protecting Lehman and then you are sad in a big way.
Since 2008 CDS was changed to be more standardized (helping you get out of one if you're in trouble). They now have to have fixed coupons (and, making them even less like normal swaps, there is an upfront payment to compensate) making them similar to one another. They also have margining and central clearing now. The goal here being entirely "Let's not let these derivative blow the world up, shall we?"
Oh, and Blythe Masters (inventopopularizer of CDS) went on after inventing these things to prank the California energy market and is doing stuff with bitcoin now. Bon voyage.
So long, and thanks for all the derivatives
So this is incredibly long but I've had my thoughts on derivative percolating for a while and I wanted to illuminate some of it. So we covered how notional value vastly overstates the economic relevance of derivatives; we illustrated it with a forward contract; talked about how certain innovations in the listed market make derivatives less fragile; and discussed how those innovations have been applied to certain interest and credit derivatives since The Great Unfortunateness.
I do want an excuse to talk about mortgage backed securities and stuff because those are fun too.
"Wait, you owe me a barrel of oil!"
Dammit.
submitted by Sporz to badeconomics [link] [comments]

The insurance company with the biggest exposure to the 1.2 quadrillion dollar (ie, 1200 TRILLION dollar) derivatives casino is AXA. Yeah, *that* AXA, the company whose CEO is head of the Bilderberg Group, and whose "venture capital" arm bought out Bitcoin development by "investing" in Blockstream.

TL;DR:
Just scroll down to page 5 of the PDF and check out the graph:
http://www.actuaries.org.hk/upload/File/ET210513.pdf
In 2013, AXA had $464 billion in exposure to derivatives, representing more than 50% of their balance sheet - more (in absolute and percentage terms) than any other insurer.
My theory: AXA knows that Bitcoin is real money, and real money will destroy AXA's balance sheet - which is based on the "fantasy accounting" of derivatives. So AXA wants to control Bitcoin development (by buying out the Core/Blockstream devs), and artificially suppress the blocksize, to artificially suppress the Bitcoin price.
My question: Do you want Bitcoin development being funded by a financial institution like AXA which would literally become bankrupt overnight if the worldwide derivatives casino lost a miniscule fraction of its so-called "value"?
Personally, I can think of no greater conflict of interest than this. This is the mother of all smoking guns of conflicts of interest. Derivatives are 1.2 quadrillion dollars of fake money circulating in a fraudulent system of fantasy accounting - and bitcoin is 2.1 quadrillion satoshis of real money circulating on the world's first unfake-able global ledger. They are polar opposites.
AXA's so-called "value" would collapse overnight if the fakery and fantasy of the worldwide derivatives casino were to finally be exposed. AXA is the last organization which should have any involvement whatsoever with Bitcoin's development - and yet, here we are today: AXA is paying the salary of guys like Greg Maxwell and Adam Back.
Details/Background:
What are derivatives?
Derivatives are the $1.2 quadrillion ($1200 trillion) "time bomb" of bets using fake, debt-backed fiat money that's about to explode and destroy the world's financial system:
http://www.dailyfinance.com/2010/06/09/risk-quadrillion-derivatives-market-gdp/
https://duckduckgo.com/?q=derivatives+time+bomb&ia=web
Derivatives are like a giant blood-sucking "tick" (representing 1200 trillion dollars in "notional" value, ie the total value of all the bets, without offsetting) on the back of a "dog" representing the world's "real" economy (representing mere tens of trillions of dollars):
http://demonocracy.info/infographics/usa/derivatives/bank_exposure.html
https://duckduckgo.com/?q=derivatives+dwarf+economy&ia=web
Derivatives were the root cause of the financial crisis that already almost destroyed the world's debt-based fiat financial system in 2008:
http://www.forbes.com/sites/stevedenning/2013/01/08/five-years-after-the-financial-meltdown-the-water-is-still-full-of-big-sharks/#43930ad45474
http://www.businessinsider.com/bubble-derivatives-otc-2010-5?op=1&IR=T
https://en.wikipedia.org/wiki/Causes_of_the_Great_Recession
https://duckduckgo.com/?q=derivatives+financial+crisis+2008&ia=web
Derivatives are that giant blob of fake, debt-backed fiat "money" shown at the bottom of the graph shown below (where the top of the of the graph shows that tiny speck of real money, bitcoin):
https://np.reddit.com/Bitcoin/comments/3xpecf/all_of_the_worlds_money_in_one_chart/
http://www.businessinsider.com/all-of-worlds-money-in-one-chart-2015-12
Derivatives are are also the fake, debt-backed "money" which already brought down another giant insurance group (AIG, not to be confused with AXA), in the financial crisis of 2008, which you're probably still bailing out personally with your tax dollars and your country's "austerity":
https://web.archive.org/web/20150730232015/http://www.thenation.com/article/aig-bailout-scandal
https://duckduckgo.com/?q=aig+derivatives+scandal
And finally:
Derivatives are also the fake, debt-backed "money" which makes up over 50% ($464 billion) of the balance sheet of insurance giant AXA - which has more derivatives exposure than any other insurance company, both in percentage and absolute terms (2013 figures - scroll down to page 5 of the PDF to see the graph):
http://www.actuaries.org.hk/upload/File/ET210513.pdf
https://web.archive.org/web/20160519091543/http://www.actuaries.org.hk/upload/File/ET210513.pdf
Yeah, AXA.
The same company...
https://np.reddit.com/Bitcoin+bitcoinxt+bitcoin_uncensored+btc+bitcoin_classic/search?q=bilderberg+group&restrict_sr=on
https://www.axa.com/en/newsroom/news/axa-strategic-ventures-blockchain
https://duckduckgo.com/?q=axa+strategic+investments+bitcoin&ia=web
Every time I mention how AXA is in charge of Blockstream's payroll, a few "random" people come out of the woodwork on these threads trying to dismissively claim (while presenting absolutely no arguments or evidence) that it is a mere irrelevant "coincidence" that AXA's venture capital subsidiary is funding Core/Blockstream.
But there are very few coincidences in the world of high finance.
And meanwhile, here are a few things we do know:
  • Henri de Castries is not only the the CEO of insurance giant AXA (he's actually stepping down later this year) - he's also the chairman of the Bilderberg Group - the secretive group which includes most of the major players in the current global debt-backed financial system:
https://duckduckgo.com/?q=henri+de+castries+bilderberg&ia=web
https://duckduckgo.com/?q=henri+de+castries+axa&ia=web
  • AXA Strategic Ventures (the venture capital arm of insurance giant AXA) was behind the second, $55 million round of investment in Blockstream:
https://duckduckgo.com/?q=%22axa+strategic+ventures%22+bitcoin&ia=web
https://np.reddit.com/Bitcoin+bitcoinxt+bitcoin_uncensored+btc+bitcoin_classic/search?q=bilderberg+group&restrict_sr=on
  • As of 2013, AXA already had $464 billion in derivatives exposure - over 50% of its balance sheet - far more than any other insurance company (both in $ and in % terms):
http://www.actuaries.org.hk/upload/File/ET210513.pdf
  • Many if not most major financial institutions would actually be considered insolvent now, if their so-called assets and liabilities were honestly valued (ie, "marked to market):
http://www.forbes.com/sites/robertlenzne2014/10/03/everything-you-didnt-know-about-the-federal-reserve-board/#45c36aa03f25
  • Bitcoin, by having no counterparty risk, threatens to expose this whole fraudulent casino of fantasy accounting on the part of major financial institutions - which is probably why companies like AXA want to control Bitcoin development - so they can artificially suppress the blocksize, and artificially suppress the the bitcoin price.
My guess:
The 2.1 quadrillion satoshis (21 million bitcoins x 100 million satoshis per bitcoin) of real money starting to circulate on the Bitcoin network threaten to expose the fact that the 1.2 quadrillion dollars of fantasy fiat circulating in the worldwide derivatives casino are actually worthless.
And this is probably the real reason why AXA - the insurance company with the largest derivatives exposure - is trying to control Blockstream, in order to control Bitcoin development, and suppress Bitcoin price.
submitted by ydtm to btc [link] [comments]

Merchant Mondays - pay with Vtc today! New stores & Shopify plugin

Welcome back!

Show your appreciation for the businesses that lead the way in the adoption of cryptocurrencies. Instead of paying with fiat for your next purchase, use this Monday initiative to pay with VTC instead. Did you buy anything with Vertcoin recently? Please share your experience.
Vertcoin Merchant website
This past two weeks we've really started noticing more interest in accepting Vertcoin. This is undoubtedly thanks to all the interest everyone here is creating in the subject. Furthermore, it now became even more trivial to accept VTC payments online with the Shopify plugin. The stars are ligning up people :)
We have a couple of new additions since last week. Some examples are Learncrypto.io, who are set out to teach crypto trading and Astronaut Apparel, who are bringing business and Crypto together in a way that doesn't involve making your own ICO.
If a business should be added to or removed from the list, let me know!

Debit cards

Education

New

Food

Gambling

Garden & Agriculture

Gift Cards

Goods/Merchandise

New

New

Medical

New

Multimedia Services

Professional (law) Services

Printing

Technology

Video Games

Wallets & miscellaneous

(NSFW) Adult shops

submitted by thatmanontheright to vertcoin [link] [comments]

Merchant monday - Adoption

Welcome back!

Show your appreciation for the businesses that lead the way in the adoption of cryptocurrencies. Instead of paying with fiat for your next purchase, use this Monday initiative to pay with VTC instead.
Vertcoin Merchant website
It's been a slow week in terms of new merchants, but that's no cause for worry. It just shows we have to try harder! It also shows the importance of supporting our existing merchants.
I want to call attention to two merchants this week.
PexPeppers is not a new merchant, but actually they have been a supporter of Vertcoin for a long time. They are now offering a Vertcoin branded hotsauce. You can order one here. I Would like to hear your Vertcoin hotsauce puns in the comments.
We added Lazy Pyramid in to our list this week. Lazy Pyramid is a relatively new marketplace that provides all sorts of items. They distinguish themselves by going the extra mile. They even say you can mail them to request items that you can't find on the site.
Want to become a merchant? Check out the Coinpayments Shopify plugin.
If a business should be added to or removed from the list, let me know!

Debit cards

Education

Food

Gambling

Garden & Agriculture

Gift Cards

Goods/Merchandise

New

Medical

Multimedia Services

Professional (law) Services

Printing

Technology

Video Games

Wallets & miscellaneous

(NSFW) Adult shops

submitted by thatmanontheright to vertcoin [link] [comments]

Merchant Mondays - Where would you like to spend your Vertcoin?

Welcome back!

Show your appreciation for the businesses that lead the way in the adoption of cryptocurrencies. Instead of paying with fiat for your next purchase, use this Monday initiative to pay with VTC instead.
On Twitter we asked you to reach out to your favorite merchants. Haven't done so? check out the tweet. https://twitter.com/Vertcoin/status/1022918794899992576
Vertcoin Merchant website
I want to call attention to a few merchants this week.
We added Hipptee to our list this week. Hipptee is an online store that provides a wide variety of cool crypty shirts. Hipptee integrated Vertcoin payment using CoinPayments. Show them some love and visit their website.
We have another addition to our list. Welcome Bullcrypto to the Vertcoin merchants. Bullcrypto is a brand new apparel shop that sells everything from tshirts to hats or from mugs to posters!
Last but not least, we welcome Coinhost. Coinhost provides hosting, VPS, dedicated servers and domains. Take a look at what they have to offer.
If a business should be added to or removed from the list, let me know!

Debit cards

With UQUID, buying online and sending money to friends is made easier and safer than ever: all you need is an email address. Your money is protected, no personal information is revealed, and you can retrieve the details of every payment at any moment.

Education

LearnCrypto offers training about Crypto trading.The team at LearnCrypto.io has dedicated thousands of hours to educating the public and our students in all areas of Cryptocurrencies.

Food

PexPeppers is specialized in "finest chili sauces, jellies, salts, seeds & more." Based in Pueblo, Colorado, USA PexPeppers is selling all over the world.

Gambling

Vertcoingames: "Play Roulette, Dice, Blackjack and Video Poker using Vertcoin. Great games with fair, casino level payouts."

Garden & Agriculture

Royal Queen Seeds is amongst the fastest growing cannabis seed companies in Europe. After building up many years of experience in growing cannabis seeds in the Netherlands, we decided to launch our own line of cannabis seeds and are now able to offer you quality feminized, autoflowering and medical seeds at a good price.

Gift Cards

Coincards provides Giftcards and was created in July of 2014.
Crypto De Change provides Gift Cards and Silver Buillons since July 2013.
Giftoff is a "digital gift card retailer with the largest range on offer in Europe. Since 2014 we’ve been enabling digital currency users to shop with major retailers like Amazon.co.uk, Steam and Marks & Spencer. We stock over 70 gift cards and accept over 40 digital currencies as well as UK credit and debit cards."

Goods/Merchandise

Astronaut Apparel makes every effort to operate in a transparent and ethical manner. We will be integrating blockchain features to help with supply chain management, so that you can see exactly where your apparel was made.
Barter4Crypto is a platform where users can offer and pay each other in cryptocurrencies for services and products.

New

Bullcrypto is a brand new apparel shop that sells everything from tshirts to hats or from mugs to posters!
An online marketplace (similar to Ebay) with buyer and seller protection. This platform allows you to buy and sell products for Crypto with escrow possibilities for Vertcoin.
Cyroline is on "the tireless hunt for the special in the fashion world, the perfect fusion of individual styles, quality and sustainability." In physical stores you can pay with Vertcoin in Germany: Lübeck, Berlin, Hamburg, Cologne, Stuttgart.
Crypto Affect provides "Clothing for the hodler", crypto related fashion.
C&P provides crypto related fashion and is "shipping worldwide with live rates and tracking."
"Cryptobird is a partnership to start a full crypto based webshop with high quality fashion to contribute to a wider cryptocurrency adoption around the globe."
Crypto Compound provides "cryptothemed items" like fashion, mugs & more.
Cryptoble provides "apparel and more". Here are crypto related shirts & mugs.
A webshop selling Crypto mugs (obviously) and some other cool items such as Tshirts and Drones.
Epic Pants is an online retailer who sells products in the categories hardware, apparel, styles, gear, fun, music and art.
GeekBox "offers a wide variety of services including but not limited to basic computer setup, repair, virus removal, server setup, network setup, consulting, purchasing, cloud computing advice, gaming system and electronic repair." As a nice special GeekBox IT provides a Vertcoin Tshirt.

New

Hipptee provides a range of different cryptocurrency tshirts.
Hodler Tees is a cryptocurrency centered tshirt company based in Frisco Texas! (USA) We sell all things crypto related from hats to tshirts and even posters!
KPV provides Vaporizers, "electronic devices that help you vaporize your material into vapor for cleaner inhalation. People looking to quit smoking cigarettes are the main reason behind vapes."
LP is an online store and community. We service the world, no order is too small or too large.
"At Nakamoto Clothing, we're passionate about designing and curating a selection of apparel to help grow this movement of change. And we're electrified AF!", international shipping.
Quinsolo proudly accepts decentralized cryptocurrency payments for their crypto themed products.
Online marketplace selling crypto embroided polo shirts
Spreadshirt provides shirts and more. Based in Greensburg, USA, the owner comes from the Netherlands.
Shillshop provides stickers in outdoor quality and is "based in The Netherlands, all the products we sell are also produced in The Netherlands to make sure you'll receive the highest quality!"
Teepublic provides apparel, home goods, shirts, stickers, mugs & more.
RB gives "independent artists a meaningful new way to sell their creations. Today, we connect over 400k artists and designers across the planet with millions of passionate fans." RB provides a huge asortiment of designed products like bags, wall art, home decor, apparel, stationary & more.
VTCmarket is founded by the Dunn twins Raf & Tom: "We’ve started off with Tshirts and are working on expanding with other products and merchants"
Jzzsxm's Online Store provides a 1.5" diameter metal Vertcoin Medallion. Each medallion costs 2 VTC and comes with a metalized label containing a wallet address QR code of your choice affixed to the back.
WikiLeaks is a multinational media organization and associated library. It was founded by its publisher Julian Assange in 2006. The shop provides shirts, posters and asseccoires.
Zazzle is a "marketplace, you'll find customizable products, art and createyourown products just waiting for you. We're PhD's, professional artists, manufacturing gurus, patent holders, inventors, musicians, and more. Everything we do is an expression of love." As a nice special Z provides Vertcoin shirts.

Medical

Acupuncture in Massachusetts

Multimedia Services

RDS is Central Virginia’s drone service specialists. From preparation to content delivery, we perform all work to perfection. We can act as both an aerial film consultant or as the remote pilot in charge on your next projects.

Professional (law) Services

Burrell Law "Our New York Citybased attorneys provide a broad range of transactional legal services" Every large business was once a small business. We are here to help you find a solution for your legal needs.
Bitcoin Tax is "calculating capital gains/losses for any cryptocurrency. Do you know the costbasis of every coin you own? Are you tracking the profits and new basis when you spend or sell? Can you work out the best way to identify your trades to optimize your taxes? Let us do it for you."
The Crypto Lawyers "we are a team of U.S. qualified lawyers dedicated to helping individuals, businesses, and organizations navigate the legal intricacies of cryptocurrency and blockchain technology. We commit ourselves to strategically and aggressively represent our clients in their transactional and litigation matters."

Printing

"Catdi is a commercial printing company with additional specialization in web design. Offering costeffective commercial printing, direct mail, graphic design and web solutions to small businesses. Proudly Serving Houston and surrounding communities for over 10 years."

Technology & Internet

AirVPN is a VPN based on OpenVPN and operated by activists and hacktivists in defence of net neutrality, privacy and against censorship.

New

Bullcrypto is a brand new apparel shop that sells everything from tshirts to hats or from mugs to posters!
Evolution Host is a hosting provider where you can pay with Vertcoin. They offer VPS hosting, IRC hosting and game servers on several locations around the world with highend hardware.
"FastTech is the technocentric destination for all your geeky needs and more. FastTech is committed to become the most loved and trusted electronics marketplace by offering superior shopping experience, timely shipping, and stellar customer service."
The first GPS tracking company to accept cryptocurrency as payment. Easy to install and easy to use with options for just about any type of vehicle or trailer.

Video Games

Cavemen Studios is a developer of video games. "Having over a century of combined experience on how video games tick, we've finally decided it's time to start creating our own products."
"Keys4Coins is one of the first pc game stores who only accept cryptocurrency as payment. Our store is simple to use and you can shop anonymously. Only an email is required so you can receive the license."
"Our aim is to provide the fastest, easiest place to buy Xbox Live Gold subscriptions with cryptocurrencies"

Wallets & miscellaneous

Designed Vertcoin public and private wallets that can be used as paper wallets or given as gifts.
LaserLightning provides one etched wooden Vertcoin with the Vertcoin logo burned into one side, and your custom QR code on the back. These coins are approx 1.5 inches in diameter.

(NSFW) Adult shops

Toys4Sex is Australia's Online Adult store retailer intended for men and women. Toys4Sex comes with a specially selected range of products that has made its mark within the Australian adult market place.
submitted by thatmanontheright to vertcoin [link] [comments]

Merchant mondays - spread VTC awareness & support the team

Welcome back to merchant mondays

Cryptocurrencies have created the basis for many small companies. Some of the companies in this list are entirely driven by doing something positive for the crypto space. Merchant mondays is the moment to show your appreciation for the businesses that lead the way in the adoption of cryptocurrencies. Instead of paying with fiat for your next purchase, use this Monday initiative to pay with VTC instead.
Vertcoin Merchant website
I want to highlight an initiative that helps support Vertcoin development and awareness
Suriyaa has started a Teespring campaign. Help spread awareness for Vertcoin by buying one of the Vertcoin t-shirts. The profits will be donated to Vertcoin development. You can visit the shop by following this link - teespring
Help us expand this list! Tweet, email, call or seduce your favourite retailer. Vertcoin payments offer many benefits for businesses.

Debit cards

With UQUID, buying online and sending money to friends is made easier and safer than ever: all you need is an email address. Your money is protected, no personal information is revealed, and you can retrieve the details of every payment at any moment.

Education

LearnCrypto offers training about Crypto trading.The team at LearnCrypto.io has dedicated thousands of hours to educating the public and our students in all areas of Cryptocurrencies.

Food

PexPeppers is specialized in "finest chili sauces, jellies, salts, seeds & more." Based in Pueblo, Colorado, USA PexPeppers is selling all over the world.

Gambling

Vertcoingames: "Play Roulette, Dice, Blackjack and Video Poker using Vertcoin. Great games with fair, casino level payouts."

Garden & Agriculture

Royal Queen Seeds is amongst the fastest growing cannabis seed companies in Europe. After building up many years of experience in growing cannabis seeds in the Netherlands, we decided to launch our own line of cannabis seeds and are now able to offer you quality feminized, autoflowering and medical seeds at a good price.

Gift Cards

Coincards provides Giftcards and was created in July of 2014.
Crypto De Change provides Gift Cards and Silver Buillons since July 2013.
Giftoff is a "digital gift card retailer with the largest range on offer in Europe. Since 2014 we’ve been enabling digital currency users to shop with major retailers like Amazon.co.uk, Steam and Marks & Spencer. We stock over 70 gift cards and accept over 40 digital currencies as well as UK credit and debit cards."

Goods/Merchandise

Astronaut Apparel makes every effort to operate in a transparent and ethical manner. We will be integrating blockchain features to help with supply chain management, so that you can see exactly where your apparel was made.
Barter4Crypto is a platform where users can offer and pay each other in cryptocurrencies for services and products.
Bullcrypto is a brand new apparel shop that sells everything from tshirts to hats or from mugs to posters!
An online marketplace (similar to Ebay) with buyer and seller protection. This platform allows you to buy and sell products for Crypto with escrow possibilities for Vertcoin.
Cyroline is on "the tireless hunt for the special in the fashion world, the perfect fusion of individual styles, quality and sustainability." In physical stores you can pay with Vertcoin in Germany: Lübeck, Berlin, Hamburg, Cologne, Stuttgart.
Crypto Affect provides "Clothing for the hodler", crypto related fashion.
C&P provides crypto related fashion and is "shipping worldwide with live rates and tracking."
"Cryptobird is a partnership to start a full crypto based webshop with high quality fashion to contribute to a wider cryptocurrency adoption around the globe."
Crypto Compound provides "cryptothemed items" like fashion, mugs & more.
Cryptoble provides "apparel and more". Here are crypto related shirts & mugs.
A webshop selling Crypto mugs (obviously) and some other cool items such as Tshirts and Drones.
Epic Pants is an online retailer who sells products in the categories hardware, apparel, styles, gear, fun, music and art.
GeekBox "offers a wide variety of services including but not limited to basic computer setup, repair, virus removal, server setup, network setup, consulting, purchasing, cloud computing advice, gaming system and electronic repair." As a nice special GeekBox IT provides a Vertcoin Tshirt.
Hipptee provides a range of different cryptocurrency tshirts.
Hodler Tees is a cryptocurrency centered tshirt company based in Frisco Texas! (USA) We sell all things crypto related from hats to tshirts and even posters!
KPV provides Vaporizers, "electronic devices that help you vaporize your material into vapor for cleaner inhalation. People looking to quit smoking cigarettes are the main reason behind vapes."
LP is an online store and community. We service the world, no order is too small or too large.
"At Nakamoto Clothing, we're passionate about designing and curating a selection of apparel to help grow this movement of change. And we're electrified AF!", international shipping.
Quinsolo proudly accepts decentralized cryptocurrency payments for their crypto themed products.
Online marketplace selling crypto embroided polo shirts
Spreadshirt provides shirts and more. Based in Greensburg, USA, the owner comes from the Netherlands.
Shillshop provides stickers in outdoor quality and is "based in The Netherlands, all the products we sell are also produced in The Netherlands to make sure you'll receive the highest quality!"
Teepublic provides apparel, home goods, shirts, stickers, mugs & more.
RB gives "independent artists a meaningful new way to sell their creations. Today, we connect over 400k artists and designers across the planet with millions of passionate fans." RB provides a huge asortiment of designed products like bags, wall art, home decor, apparel, stationary & more.
VTCmarket is founded by the Dunn twins Raf & Tom: "We’ve started off with Tshirts and are working on expanding with other products and merchants"
Jzzsxm's Online Store provides a 1.5" diameter metal Vertcoin Medallion. Each medallion costs 2 VTC and comes with a metalized label containing a wallet address QR code of your choice affixed to the back.
WikiLeaks is a multinational media organization and associated library. It was founded by its publisher Julian Assange in 2006. The shop provides shirts, posters and asseccoires.
Zazzle is a "marketplace, you'll find customizable products, art and createyourown products just waiting for you. We're PhD's, professional artists, manufacturing gurus, patent holders, inventors, musicians, and more. Everything we do is an expression of love." As a nice special Z provides Vertcoin shirts.

Medical

Acupuncture in Massachusetts

Multimedia Services

RDS is Central Virginia’s drone service specialists. From preparation to content delivery, we perform all work to perfection. We can act as both an aerial film consultant or as the remote pilot in charge on your next projects.

Professional (law) Services

Burrell Law "Our New York Citybased attorneys provide a broad range of transactional legal services" Every large business was once a small business. We are here to help you find a solution for your legal needs.
Bitcoin Tax is "calculating capital gains/losses for any cryptocurrency. Do you know the costbasis of every coin you own? Are you tracking the profits and new basis when you spend or sell? Can you work out the best way to identify your trades to optimize your taxes? Let us do it for you."
The Crypto Lawyers "we are a team of U.S. qualified lawyers dedicated to helping individuals, businesses, and organizations navigate the legal intricacies of cryptocurrency and blockchain technology. We commit ourselves to strategically and aggressively represent our clients in their transactional and litigation matters."

Printing

"Catdi is a commercial printing company with additional specialization in web design. Offering costeffective commercial printing, direct mail, graphic design and web solutions to small businesses. Proudly Serving Houston and surrounding communities for over 10 years."

Technology & Internet

AirVPN is a VPN based on OpenVPN and operated by activists and hacktivists in defence of net neutrality, privacy and against censorship.
Jagoda (strawberry) is a videogames platform aiming to distribute digital services for cryptocurrencies that show a direct interest in social activism on different layers.
Evolution Host is a hosting provider where you can pay with Vertcoin. They offer VPS hosting, IRC hosting and game servers on several locations around the world with highend hardware.
"FastTech is the technocentric destination for all your geeky needs and more. FastTech is committed to become the most loved and trusted electronics marketplace by offering superior shopping experience, timely shipping, and stellar customer service."
The first GPS tracking company to accept cryptocurrency as payment. Easy to install and easy to use with options for just about any type of vehicle or trailer.

Video Games

Cavemen Studios is a developer of video games. "Having over a century of combined experience on how video games tick, we've finally decided it's time to start creating our own products."
"Keys4Coins is one of the first pc game stores who only accept cryptocurrency as payment. Our store is simple to use and you can shop anonymously. Only an email is required so you can receive the license."
"Our aim is to provide the fastest, easiest place to buy Xbox Live Gold subscriptions with cryptocurrencies"

Wallets & miscellaneous

Designed Vertcoin public and private wallets that can be used as paper wallets or given as gifts.
LaserLightning provides one etched wooden Vertcoin with the Vertcoin logo burned into one side, and your custom QR code on the back. These coins are approx 1.5 inches in diameter.

(NSFW) Adult shops

Toys4Sex is Australia's Online Adult store retailer intended for men and women. Toys4Sex comes with a specially selected range of products that has made its mark within the Australian adult market place.
submitted by thatmanontheright to vertcoin [link] [comments]

Merchant Monday

Hi

This is your weekly reminder that VTC is a currency. You can buy lots of stuff, why not use Vertcoin?
Vertcoin Merchant website
 
I want to call attention to a few merchants this week.
Burrell-Law's) New York City-based attorneys provide a broad range of transactional legal services. They have a focus on small and start-up companies.
Two weeks ago I told you to buy stickers, so here's a shop to buy them! Shillshop provides stickers in outdoor quality and is "based in The Netherlands, all the products we sell are also produced in The Netherlands to make sure you'll receive the highest quality!"
Be sure to check them both of them out!  
Happy buying!
 
Want to become a merchant? Or want to help someone? Check out the Coinpayments Shopify plugin.  
If a business should be added to or removed from the list, let me know!

Debit cards

Education

Food

Gambling

Garden & Agriculture

Gift Cards

Goods/Merchandise

Medical

Multimedia Services

Professional (law) Services

Printing

Technology & Internet

Video Games

Wallets & miscellaneous

(NSFW) Adult shops

submitted by thatmanontheright to vertcoin [link] [comments]

Merchant Mondays - Want to help with merchant adoption?

It's Monday! And this monday I want to ask you something..

But first, give some recognition to merchants. Go and buy something with Vertcoin. A mug? Some stickers? A new car? It's all there! Check out this list with merchants that accept Vertcoin. Show your appreciation for the businesses that lead the way in the adoption of cryptocurrencies and pay with VTC .
 
Lazy Pyramid added some new stuff you can pay for with Vertcoin this week. Take a look.
Vertcoin Merchant website - Remember that you can always find the list on the Vertcoin website.
 
Now I want to ask for your help. We are always looking to expand our efforts towards merchant adoption. To do so, we need ideas and contributions. Do you want to help with a "merchant kit" and merchant outreach?
Want to make a list of merchants to reach out to? Or do you prefer to put your design skills to use and make a folder for merchants? Maybe you're a writer and you'd like to write a guide for merchants? All ideas are welcome! Drop by our discord and join the discussion in the "open marketing" channel.
 
If a business should be added to or removed from the list, let me know!

Debit cards

Education

Food

Gambling

Garden & Agriculture

Gift Cards

Goods/Merchandise

Medical

Multimedia Services

Professional (law) Services

Printing

Technology & Internet

Video Games

Wallets & miscellaneous

(NSFW) Adult shops

submitted by thatmanontheright to vertcoin [link] [comments]

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