Bitcoin Wiki - User contributions [en]

Block size limit controversy

2016-01-20T11:27:34Z

Seal: Added the Magnr.com stance

{{current}}{{see also|Scalability FAQ}}
[[Block]]s are limited to 1MB in size. Miners can mine blocks up to the 1MB fixed limit, but any block larger than 1MB is invalid. This limit cannot be modified without a hard fork. To prevent Bitcoin from temporarily or permanently splitting into separate payment networks ("altcoins"), hard forks require adoption by nearly all [[Full node#Economic_strength|economically active]] full nodes.

== Arguments in favor of increasing the blocksize ==
* More transactions per second
* Off-chain solutions are not yet ready to take off the load from the main blockchain.

== Contentions ==
* Increased blocksize will leave space for extensions like Mastercoin, Counterparty, etc.
** Neutral: Bitcoin competitors will have lower fees
** Negative: Bitcoin full nodes are forced to use more resources that don't support Bitcoin
* Small blocks eventually will require higher fees for fast confirmations.
** Positive: It will no longer be cheap to spam transactions such as Satoshi Dice bets
** Positive: Fees will not be zero. This is eventually a necessity in order to incentivize miners and secure the mining ecosystem
** Negative: Bitcoin may look unattractive to new users with high fees
** Negative: High fees may stop or reverse global adoption, investment, development, support and centralization{{clarification needed}}
** Negative: Bitcoin users pay higher fees
* A low blocksize limit encourages higher transactions fees to incentivize miners ("let a fee market develop").
** A fee market naturally develops due to miner latency regardless<ref>https://dl.dropboxusercontent.com/u/43331625/feemarket.pdf A Transaction Fee Market Exists Without a Block Size Limit</ref>
*** The relay network can be optimized so that miners don't have a stale rate increasing with latency. This should cause the fee market to once again require a block size limit to exist.

== Arguments in opposition to increasing the blocksize ==
* A hard fork requires waiting for sufficient consensus.
* Risk of catastrophic consensus failure<ref>https://www.mail-archive.com/bitcoin-development@lists.sourceforge.net/msg08276.html</ref>{{clarification needed}}
* An emergency hard fork that can achieve consensus can be deployed on a short time period if needed.<ref>[https://www.reddit.com/r/Bitcoin/comments/392m43/mike_hearn_blocksize_debate_at_the_breaking_point/cs00wdd How to raise block size in a short time], Peter Todd, Reddit /r/Bitcoin, 9 June 2015</ref>
* Orphan rate amplification, more reorgs and double-spends due to slower propagation speeds.
* European/American pools at more of a disadvantage compared to the Chinese pools{{why}}
* "Congestion" concerns can be solved with mempool improvements including transaction eviction.
* No amount of max block size would support all the world's future transactions on the main blockchain (various types of off-chain transactions are the only long-term solution)
* Fast block propagation is either not clearly viable, or (eg, IBLT) creates centralised controls.

=== Damage to decentralization ===
* Larger blocks make full nodes more expensive to operate.
* Therefore, larger blocks lead to less hashers running full nodes, which leads to centralized entities having more power, which makes Bitcoin require more trust, which weakens Bitcoins value proposition.
* Bitcoin is only useful if it is decentralized because centralization requires trust. Bitcoins value proposition is trustlessness.
* The larger the hash-rate a single miner controls, the more centralized Bitcoin becomes and the more trust using Bitcoin requires.
* Running your own full node while mining rather than giving another entity the right to your hash-power decreases the hash-rate of large miners. Those who have hash-power are able to control their own hash power if and only if they run a full node.
* Less individuals who control hash-power will run full nodes if running one becomes more expensive<ref>https://www.weusecoins.com/why-blocksize-limit-keeps-bitcoin-free-decentralized/</ref>.

==Proposals==
===BIP 100===
Change block size limit based on miner votes, but don't leave the range (1MB, 32MB) without a softfork or hardfork respectively.
===BIP 101===
{{seealso|Bitcoin XT}}
Increase to 8 MB after both January 11, 2016 has passed and 75% of miners are supporting. Double the limit every two years with the size increasing linearly within those two year intervals.
===BIP 102===
Increase to 2 MB on November 11, 2015.
===BIP 103===
Increase by 17.7% annually until 2063.

== Entities positions ==
Positions below are based on a suggested fixed block size increase to 20MiB. Positions against these larger blocks do not necessarily imply that they are against an increase in general, and may instead support a smaller and/or gradual increase.
{| class="wikitable sortable"
! Entity
! Supports Larger Blocks
! Supports Hard Fork
|-
| [[Magnr]]
| {{Yes|Yes: "We believe an immediate 2mb blocksize increase is important and urgently required to enable Bitcoin to flourish and deliver more utilitarian use to more people all across the world."}}<ref>https://github.com/bitcoinclassic/website/issues/3#issuecomment-172678154</ref>
| {{Yes|Yes: "We support the Bitcoin Classic proposal<ref>https://bitcoinclassic.com</ref>."}} - Magnr<ref>https://twitter.com/magnr/status/689227046120222721</ref>
|-
| Bitcoinpaygate
| {{No|No: "We do NOT support the blocksize increase"}}<ref>http://www.reddit.com/r/Bitcoin/comments/37y8wm/list_of_bitcoin_services_that_supportoppose/crqsnqp</ref>
|
|-
| Bitrated
| {{No}} "At this time, I oppose increasing the block size limit as per Gavin's proposal" - Nadav Ivgi (founder)<ref>https://twitter.com/shesek/status/605005384026177537</ref>
|
|-
| [[GreenAddress]]
| {{No|No: "In our mind increasing the block size like this is just pushing the problem a little further at potentially unfixable costs."}}<ref>http://www.reddit.com/r/Bitcoin/comments/35anax/list_of_bitcoin_services_that_support_increasing/cr2mq84</ref>
|
|-
| [[MPEx]]
| {{No}}<ref>http://log.bitcoin-assets.com//?date=07-01-2015#967332</ref>
|
|-
| [[Paymium]]
| {{No|No: "<nowiki>[allow]</nowiki> a sane transaction fee market to emerge, by letting the blocks actually fill-up."}} - CTO David Francois<ref>http://fr.anco.is/2015/gavineries/</ref>
|
|-
| Ethereum 
| {{Neutral|Neutral: "If <nowiki>[the niche of digital gold]</nowiki> is what Bitcoin users want, then they should keep the limit, and perhaps even decrease it. But if Bitcoin users want to be a payment system, then up it must go."}} - Vitalik Buterin (founder)<ref>http://www.reddit.com/r/ethereum/comments/380q61/i_know_this_may_not_directly_be_ethereum_related/crrofl6</ref>
|
|-
| [[F2Pool]]
| {{Neutral|Neutral: "We do support bigger blocks and sooner rather than later. But we cannot handle 20 MB blocks right now. ... I think we can accept 5MB block at most."}}<ref>http://sourceforge.net/p/bitcoin/mailman/message/34157036/],[http://sourceforge.net/p/bitcoin/mailman/message/34158911/</ref>
|
|-
| [[Armory]]
| {{Yes}} "This *is* urgent and needs to be handled right now, and I believe Gavin
has the best approach to this." - CEO Alan Reiner<ref>http://sourceforge.net/p/bitcoin/mailman/message/34093337/</ref>
|
|-
| BitcoinReminder
| {{Yes|Yes: "BitcoinReminder.com also supports 20MB blocks (or even more?"}}<ref>http://www.reddit.com/r/Bitcoin/comments/37y8wm/list_of_bitcoin_services_that_supportoppose/crs9ytd</ref>
|
|-
| BitHours
| {{Yes|Yes: "We support @gavinandresen and his proposal for 20mb blocks"}}<ref>https://twitter.com/bithours/status/605131647747358721</ref>
|
|-
| [[BitPay]]
| {{Yes}} "Agreed (but optimistic this will be the last and only time block size needs to increase)" - CEO Stephen Pair<ref>https://twitter.com/spair/status/595341090317799424</ref>
| {{Yes|Yes: "In summary, we believe BIP 101 will safeguard Bitcoin’s decentralized nature while providing a reliable, immediate path toward greater network throughput, and we would like to express our support for merging BIP 101 into Bitcoin Core."}} - Stephen Pair<ref>https://medium.com/@spair/increasing-the-block-size-limit-85ff236fc516</ref>
|-
| Bittiraha.fi
| {{Yes|Yes: "We are supporting increasing #Bitcoin max block size to 20MB."}}<ref>https://twitter.com/Bittirahafi/status/596682373028311040</ref> "I'm strongly in favor of the block size cap increase to 20MB." - CEO Henry Brade<ref>https://twitter.com/Technom4ge/status/596334370803326978</ref>
| {{Yes}} "And I'm in favor of releasing a version with this change even with opposition." - CEO Henry Brade<ref>https://twitter.com/Technom4ge/status/596334370803326978</ref>
|-
| [[Blockchain.info]]
|{{Yes}} "It is time to increase the block size. Agree with @gavinandresen" - CEO Peter Smith<ref>https://twitter.com/OneMorePeter/status/595676380320407553</ref> "Scaling #bitcoin is a big deal. Increase the block size." - Nic Cary<ref>https://twitter.com/niccary/status/595707211994763264</ref>
|
|-
| [[Blocktrail]]
|{{Yes}} "We'd love to see BIP101 with 4mb start, alternatively BIP100 with something to deal with the 21% attack could be good too."<ref>https://blog.blocktrail.com/2015/08/miners-block-size-vote-explained/</ref> 
|
|-
| Breadwallet
| {{Yes}} "[...] in support of the Gavin's 20Mb block proposal." - CEO Aaron Voisine<ref>http://sourceforge.net/p/bitcoin/mailman/message/34096857/</ref>
|
|-
| [[BTC Guild]]

| {{Yes}} "Needs to happen, but needs future expansion built in at a reasonable rate." - Eleuthria<ref>https://www.reddit.com/r/Bitcoin/comments/370rko/21_inc_engineer_everyone_assumes_humans_will_be/crjfnpg?context=3</ref>
|
|-
| BX.in.th
| {{Yes|Yes: "<nowiki>http://BX.in.th</nowiki> will support the 20MB block size"}}<ref>https://twitter.com/BitcoinThai/status/605022509101023232</ref>
|
|-
| [[Coinbase (business)|CoinBase]]
| {{Yes|Yes: "Coinbase supports increasing the maximum block size"}}<ref>https://twitter.com/coinbase/status/595741967759335426</ref> "Why we should increase the block size" - CEO Brian Armstrong<ref>https://twitter.com/brian_armstrong/status/595453245884997634</ref>
| {{Yes|Yes: "5/ hard forks probably shouldn't happen frequently, but periodically they are an elegant solution that helps bitcoin keep growing"}} - CEO Brian Armstrong<ref>https://twitter.com/brian_armstrong/status/633309671994998784</ref>
|-
| [[Coinify]]
| {{Yes}} "We see Bitcoin XT as the best solution for ensuring the future scalability of the Bitcoin network." - CTO Hamed Sattari<ref>https://news.coinify.com/coinify-supports-bitcoin-xt-scalability-bitcoin-payments/</ref>
|
|-
| [[Dr. Adam Back (individual)|Dr. Adam Back]]
| {{Yes|Yes: "For the record I am not aware of a single person who has said they do not agree with scaling Bitcoin. Changing a constant is not the hard-part. The hard part is validating a plan and the other factors that go into it. It's not a free choice it is a security/scalability tradeoff. No one will thank us if we "scale" bitcoin but break it in hard to recover ways at the same time."}} <ref>https://www.mail-archive.com/bitcoin-development@lists.sourceforge.net/msg08276.html</ref>
| {{No}} "I strongly urge that we return to the existing collaborative constructive review process that has been used for the last 4 years which is a consensus by design to prevent one rogue person from inserting a backdoor, or lobbying for a favoured change on behalf of a special interest group, or working for bad actor" - Dr. Adam Back<ref>https://www.mail-archive.com/bitcoin-development@lists.sourceforge.net/msg08276.html</ref>
|
|-
| Kryptoradio
| {{Yes}} "#Kryptoradio dev @zouppen supports 20MB block size in #bitcoin." - Joel Lehtonen<ref>https://twitter.com/koodilehto/status/596675967667568641</ref>
|
|-
| [[OKCoin]]
| {{Yes|Yes: "OKCoin's tech team believes it's the right decision"}}<ref>https://twitter.com/okcoinbtc/status/598412795240009728</ref>
|
|-
| [[Third Key Solutions]]
| {{Yes}} "Gavin is right. The time to increase the block size limit is before transaction processing shows congestion problems." - CTO Andreas Antonopoulos<ref>https://twitter.com/aantonop/status/595601619581964289</ref>
|
|-
| [[Xapo]]
| {{Yes|Yes: "One meg is not enough: Xapo supports increasing the maximum block size"}} - CEO Wences Casares<ref>https://twitter.com/wences/status/595768917907402752</ref>
|
|}

==References==
<references/>
[[Category:2015 events]]

Magnr

2015-12-22T10:58:54Z

Seal: Added the company logo

{{Infobox company
| image = [[File:Magnr_Company_Logo_2015.png|220px|link=https://magnr.com]]
| type = [[Private company|Private]]
| name = Magnr
| trading_name = Magnr
| industry=[[Trade | Trading]], Savings, Investments, Financial Services
| location = [[London]]
| foundation = January, 2014
| key_people = Joseph Lee, James Turner, Colin Kwan, Sergio Rodriguez, Kwok Man
| area_served = Worldwide
| pairs= USD/BTC
| website=https://magnr.com
}}

'''Magnr''' is a multinational company that engages in [[bitcoin]] trading, savings and investment for digital currencies. The company operates across two verticals offering a [[bitcoin]] leveraged trading platform for retail traders and a bitcoin interest bearing savings account.<ref>{{cite news|last=Blatchford |first=Josh |url=http://www.prnewswire.com/news-releases/magnr-launches-worlds-first-blockchain-based-bitcoin-savings-accounts---latest-btcsx-product-300100853.html |title= Magnr Launches World's First Blockchain Based Bitcoin Savings Accounts |work=PR Newswire |date=2015-06-17}}</ref> It was founded in 2015 and is headquartered in London's Silicon Roundabout, the origin of its trading platform dates back to 2013 when the company operated as [[Btc.sx]]. At the time ZDNet reported Btc.sx to be one of the first bitcoin companies that voided the necessity of all other currencies other than Bitcoin.<ref>{{cite news|last=Lee |first=Michael |url=http://www.zdnet.com/startup-opens-bitcoin-only-margin-trading-platform-7000019715/ |title=Startup opens Bitcoin-only margin trading platform |work=ZDNet |date=2013-08-22}}</ref> The company was launched from Old Street, [[London]] and is run by CEO Colin Kwan a former Deutsche Bank VP. The founding team includes veterans with experience from Barclays, eBay and Jaguar Land Rover they are Joseph Lee, James Turner, Sergio Rodriguez and Kwok Man.<ref>{{cite web | title=Meet the founding team behind Magnr | publisher=Magnr | url=https://magnr.com/meet-the-team | accessdate=2015-12-18 }}</ref>

==Saving==
===How it works===

The Bitcoin deposited at Magnr is used to fund leveraged trades at Magnr Trading. The traders pay an interest rate to execute leveraged trades, which is then passed back to Magnr savers.

After a fixed introductory rate, a variable interest rate will be used. This rate will vary according to trading activity on Magnr Trading.

===Rates and Information===
* The current introductory Interest Rate is a fixed rate of 2.18% annual equivalent with interest payments made at the end of every month 
* After the introductory period, interest will be earned on a variable rate 
* Interest accrued compounds on a monthly basis 
* The maximum amount you can earn interest on is 100 bitcoins 
* You can deposit more than 100 bitcoins for safe storage, however interest will only be paid on 100 bitcoins 
* Withdrawals can be made at anytime, interest is earned on the balance held on your account

==Trading==
===Buying and selling===

Users of Magnr Trading can open long and short positions using the proprietary trading platform. A corresponding buy and sell order is then placed out to market at a matching exchange with or without leverage. All positions opened will have a corresponding position placed out to market meaning that any profits gained or losses generated from market movements will be passed on directly to the client.

===Position Deposits===

Trading at Magnr is done on a pre-paid basis. In order to open a position, a deposit is taken which acts as collateral. This collateral will act as an equivalent of a margin call. This is the price at which a position will be automatically liquidated if losses accrue to the deposited amount. The margin call is shown as a stop price when the position is opened. A larger deposit will enable a bigger stop distance to be chosen. This can result in larger losses if the price moves against the desired direction.

===Features===
Leverage - 10:1, 5:1, 2:1 
Volatility Multiplier - 10% ~ 20% 
Execution Type - at best execution 
Minimum Trade Size - $5 equates to ~$50 Trade at 10:1 
Maximum Trade Size - $1000 equates to ~$10,000 Trade at 10:1<ref>[https://support.magnr.com/hc/en-gb/categories/200125922-TRADING-FEES Magnr - Trading Fee Schedule]</ref>

==Fees==

===Transaction Fees===

====BTC====

Deposit - zero fees (minimum of 0.001 Btc) 
Withdrawal - zero fees (minimum of 0.001 Btc)

Funds are deposited once 3 [[confirmation|confirmations]] are recieved, this is a process that typically takes 30 minutes.

====USD====

Magnr does not accept fiat. All positions deposits are in Bitcoin.

===Trade Fees===

Open and Close - 0.5% 
Gap Losses - zero

==Risk Matrix==

As well as magnifying trading gains, losses can similarly be multiplied. For beginners, it is widely reccomended that trading with a smaller amount of leverage will result in a lower risk whilst learning about the platform while trading. Despite its higher minimum deposit, potential losses will be minimised due to the unlikely nature that a stop limit will be reached.<ref>[https://support.btc.sx/hc/en-gb/articles/201070362-What-is-Leveraged-Trading- Btc.sx - What is Leveraged Trading?]</ref>

{| class="wikitable"
|-
! Leverage || Stop Distance || Risk || Return (Profit or Loss) || Minimum Deposit
|-
| 10:1 || Small || High || High || $5
|-
| 5:1 || Medium || Medium || Medium || $10
|-
| 2:1 || Large || Low || Low || $20
|}

==Reception==

Following the [[Mt. Gox]] collapse, Btc.sx announced a new exchange partnerships with [[Bitstamp]], [[itBit]] and [[BitFinex]] now placing its orders out to market. The trading platform announced in March 2014 the brokerage of over $40m in brokered transactions.<ref>[http://www.coindesk.com/btc-sx-resumes-trading-mt-gox-induced-freeze/ CoinDesk - Bitcoin Derivatives Platform BTC.SX Resumes Trading After Mt Gox-Induced Freeze]</ref>

==Capital investments==

In April 2014, Btc.sx recieved 500 bitcoins from the seed accelerator, [[SeedCoin]] in its first fund raising round.<ref>[http://www.coindesk.com/seedcoin-gives-btc-sx-500-bitcoins-funding/ CoinDesk - Trading Site BTC.SX Receives 500 Bitcoins in Seedcoin Funding Round]</ref> The company has recieved a total of US$0.45 million investment as a result of initial capital injections and its equity fundraising activities.<ref>[http://www.zdnet.com/startup-opens-bitcoin-only-margin-trading-platform-7000019715/ ZDNet - Startup opens Bitcoin-only margin trading platform]</ref>

==External links==
*[https://magnr.com Official Website: Magnr - Bitcoin Trading, Savings and Investments]

==References==
<references />

[[Category:Trading]]

File:Magnr Company Logo 2015.png

2015-12-22T10:57:31Z

Seal: Magnr company logo 2015

== Summary ==
Magnr company logo 2015
== Licensing ==
{{subst:Template 2|Trademarked|PD-textlogo}}

Magnr

2015-12-22T10:55:07Z

Seal: Added the Magnr page

{{Infobox company
| type = [[Private company|Private]]
| name = Magnr
| trading_name = Magnr
| industry=[[Trade | FX Trading]], Savings, Investments, Financial Services
| location = [[London]]
| foundation = January, 2014
| key_people = Joseph Lee, James Turner, Colin Kwan, Sergio Rodriguez, Kwok Man
| area_served = Worldwide
| pairs= USD/BTC
| website=https://magnr.com
}}

'''Magnr''' is a multinational company that engages in [[bitcoin]] trading, savings and investment for digital currencies. The company operates across two verticals offering a [[bitcoin]] leveraged trading platform for retail traders and a bitcoin interest bearing savings account.<ref>{{cite news|last=Blatchford |first=Josh |url=http://www.prnewswire.com/news-releases/magnr-launches-worlds-first-blockchain-based-bitcoin-savings-accounts---latest-btcsx-product-300100853.html |title= Magnr Launches World's First Blockchain Based Bitcoin Savings Accounts |work=PR Newswire |date=2015-06-17}}</ref> It was founded in 2015 and is headquartered in London's Silicon Roundabout, the origin of its trading platform dates back to 2013 when the company operated as [[Btc.sx]]. At the time ZDNet reported Btc.sx to be one of the first bitcoin companies that voided the necessity of all other currencies other than Bitcoin.<ref>{{cite news|last=Lee |first=Michael |url=http://www.zdnet.com/startup-opens-bitcoin-only-margin-trading-platform-7000019715/ |title=Startup opens Bitcoin-only margin trading platform |work=ZDNet |date=2013-08-22}}</ref> The company was launched from Old Street, [[London]] and is run by CEO Colin Kwan a former Deutsche Bank VP. The founding team includes veterans with experience from Barclays, eBay and Jaguar Land Rover they are Joseph Lee, James Turner, Sergio Rodriguez and Kwok Man.<ref>{{cite web | title=Meet the founding team behind Magnr | publisher=Magnr | url=https://magnr.com/meet-the-team | accessdate=2015-12-18 }}</ref>

==Saving==
===How it works===

The Bitcoin deposited at Magnr is used to fund leveraged trades at Magnr Trading. The traders pay an interest rate to execute leveraged trades, which is then passed back to Magnr savers.

After a fixed introductory rate, a variable interest rate will be used. This rate will vary according to trading activity on Magnr Trading.

===Rates and Information===
* The current introductory Interest Rate is a fixed rate of 2.18% annual equivalent with interest payments made at the end of every month 
* After the introductory period, interest will be earned on a variable rate 
* Interest accrued compounds on a monthly basis 
* The maximum amount you can earn interest on is 100 bitcoins 
* You can deposit more than 100 bitcoins for safe storage, however interest will only be paid on 100 bitcoins 
* Withdrawals can be made at anytime, interest is earned on the balance held on your account

==Trading==
===Buying and selling===

Users of Magnr Trading can open long and short positions using the proprietary trading platform. A corresponding buy and sell order is then placed out to market at a matching exchange with or without leverage. All positions opened will have a corresponding position placed out to market meaning that any profits gained or losses generated from market movements will be passed on directly to the client.

===Position Deposits===

Trading at Magnr is done on a pre-paid basis. In order to open a position, a deposit is taken which acts as collateral. This collateral will act as an equivalent of a margin call. This is the price at which a position will be automatically liquidated if losses accrue to the deposited amount. The margin call is shown as a stop price when the position is opened. A larger deposit will enable a bigger stop distance to be chosen. This can result in larger losses if the price moves against the desired direction.

===Features===
Leverage - 10:1, 5:1, 2:1 
Volatility Multiplier - 10% ~ 20% 
Execution Type - at best execution 
Minimum Trade Size - $5 equates to ~$50 Trade at 10:1 
Maximum Trade Size - $1000 equates to ~$10,000 Trade at 10:1<ref>[https://support.magnr.com/hc/en-gb/categories/200125922-TRADING-FEES Magnr - Trading Fee Schedule]</ref>

==Fees==

===Transaction Fees===

====BTC====

Deposit - zero fees (minimum of 0.001 Btc) 
Withdrawal - zero fees (minimum of 0.001 Btc)

Funds are deposited once 3 [[confirmation|confirmations]] are recieved, this is a process that typically takes 30 minutes.

====USD====

Magnr does not accept fiat. All positions deposits are in Bitcoin.

===Trade Fees===

Open and Close - 0.5% 
Gap Losses - zero

==Risk Matrix==

As well as magnifying trading gains, losses can similarly be multiplied. For beginners, it is widely reccomended that trading with a smaller amount of leverage will result in a lower risk whilst learning about the platform while trading. Despite its higher minimum deposit, potential losses will be minimised due to the unlikely nature that a stop limit will be reached.<ref>[https://support.btc.sx/hc/en-gb/articles/201070362-What-is-Leveraged-Trading- Btc.sx - What is Leveraged Trading?]</ref>

{| class="wikitable"
|-
! Leverage || Stop Distance || Risk || Return (Profit or Loss) || Minimum Deposit
|-
| 10:1 || Small || High || High || $5
|-
| 5:1 || Medium || Medium || Medium || $10
|-
| 2:1 || Large || Low || Low || $20
|}

==Reception==

Following the [[Mt. Gox]] collapse, Btc.sx announced a new exchange partnerships with [[Bitstamp]], [[itBit]] and [[BitFinex]] now placing its orders out to market. The trading platform announced in March 2014 the brokerage of over $40m in brokered transactions.<ref>[http://www.coindesk.com/btc-sx-resumes-trading-mt-gox-induced-freeze/ CoinDesk - Bitcoin Derivatives Platform BTC.SX Resumes Trading After Mt Gox-Induced Freeze]</ref>

==Capital investments==

In April 2014, Btc.sx recieved 500 bitcoins from the seed accelerator, [[SeedCoin]] in its first fund raising round.<ref>[http://www.coindesk.com/seedcoin-gives-btc-sx-500-bitcoins-funding/ CoinDesk - Trading Site BTC.SX Receives 500 Bitcoins in Seedcoin Funding Round]</ref> The company has recieved a total of US$0.45 million investment as a result of initial capital injections and its equity fundraising activities.<ref>[http://www.zdnet.com/startup-opens-bitcoin-only-margin-trading-platform-7000019715/ ZDNet - Startup opens Bitcoin-only margin trading platform]</ref>

==External links==
*[https://magnr.com Official Website: Magnr - Bitcoin Trading, Savings and Investments]

==References==
<references />

[[Category:Trading]]

Btc.sx

2014-08-25T15:31:36Z

Seal:

{{Infobox company
| image = [[File:Btc.sx Logo 2014.png|220px|link=https://btc.sx]]
| type = [[Private company|Private]]
| name = Btc.sx
| trading_name = Btc.sx
| industry=[[Trade | FX Trading]], Brokerage, Financial Services
| location = [[London]]
| foundation = May, 2013
| key_people = Joseph Lee (Founder and [[CEO]]), George Samman (Co-Founder), Vincent Hoong (Co-Founder)
| area_served = Worldwide
| pairs= USD/BTC
| website=https://btc.sx
}}

'''Btc.sx''' is a multinational company that engages in leveraged [[bitcoin]] [[trade | trading]] and [[brokerage]]. The company offers a trading platform in [[digital currency]] derivatives such as [[margin trading]] to retail traders. It was founded in 2013 and is headquartered in London's Silicon Roundabout. ZDNet reports Btc.sx to be one of the first bitcoin companies that voided the necessity of all other currencies other than Bitcoin.<ref>[http://www.zdnet.com/startup-opens-bitcoin-only-margin-trading-platform-7000019715/ ZDNet - Startup opens Bitcoin-only margin trading platform]</ref> The company was launched from [[Sydney]], [[Australia]], and is run by CEO Joseph Lee who co-founded the company alongside George Samman and Vincent Hoong.<ref>[https://btc.sx/about/team/ | accessdate=2014-08-21 Btc.sx - About the Btc.sx Team]</ref> Shortly after its launch, Lee moved operations to [[London]] favouring a dual incorporation model between [[Singapore]] and [[United Kingdom]].<ref>[http://www.afr.com/p/business/enterprise/tech_start_ups_leave_oz_over_tax_YHf6ExICdaRAyopKKiZ2zI Australian Financial Review - Tech start-ups leave Oz over tax]</ref> The company also has operations in [[New York]].

==Trading==
===Buying and selling===

Users of Btc.sx can open long and short positions using the proprietary trading platform. A corresponding buy and sell order is then placed out to market at a matching exchange with or without leverage. All positions opened will have a corresponding position placed out to market meaning that any profits gained or losses generated from market movements will be passed on directly to the client.

===Position Deposits===

Trading at Btc.sx is done on a pre-paid basis. In order to open a position, a deposit is taken which acts as collateral. This collateral will act as an equivalent of a margin call. This is the price at which a position will be automatically liquidated if losses accrue to the deposited amount. The margin call is shown as a stop price when the position is opened. A larger deposit will enable a bigger stop distance to be chosen. This can result in larger losses if the price moves against the desired direction.

===Features===
Leverage - 10:1, 5:1, 2:1 
Volatility Multiplier - 15% 
Execution Type - at best execution over ECN 
Minimum Trade Size - $5 equates to ~$50 Trade at 10:1 
Maximum Trade Size - $1000 equates to ~$10,000 Trade at 10:1<ref>[https://btc.sx/about/fees/ Btc.sx - Trading Fee Schedule]</ref>

==Fees==

===Transaction Fees===

====BTC====

Deposit - zero fees (minimum of 0.001 Btc) 
Withdrawal - zero fees (minimum of 0.001 Btc)

Funds are deposited once 3 [[confirmation|confirmations]] are recieved, this is a process that typically takes 30 minutes.

====USD====

Btc.sx does not accept fiat. All positions deposits are in Bitcoin.

===Trade Fees===

Open and Close - 0.5% 
Gap Losses - zero

==Risk Matrix==

As well as magnifying trading gains, losses can similarly be multiplied. For beginners, it is widely reccomended that trading with a smaller amount of leverage will result in a lower risk whilst learning about the platform while trading. Despite its higher minimum deposit, potential losses will be minimised due to the unlikely nature that a stop limit will be reached.<ref>[https://support.btc.sx/hc/en-gb/articles/201070362-What-is-Leveraged-Trading- Btc.sx - What is Leveraged Trading?]</ref>

{| class="wikitable"
|-
! Leverage || Stop Distance || Risk || Return (Profit or Loss) || Minimum Deposit
|-
| 10:1 || Small || High || High || $5
|-
| 5:1 || Medium || Medium || Medium || $10
|-
| 2:1 || Large || Low || Low || $20
|}

==Reception==

Following the [[Mt. Gox]] collapse, Btc.sx announced a new exchange partnership with [[Bitstamp]] now placing its orders out to market.<ref>[https://btc.sx/news/normal-trading-resumed/ Btc.sx - Normal Trading Resumed]</ref> The trading platform announced in March 2014 the brokerage of over $40m in brokered transactions.<ref>[http://www.coindesk.com/btc-sx-resumes-trading-mt-gox-induced-freeze/ CoinDesk - Bitcoin Derivatives Platform BTC.SX Resumes Trading After Mt Gox-Induced Freeze]</ref>

==Capital investments==

In April 2014, Btc.sx recieved 500 bitcoins from the seed accelerator, [[SeedCoin]] in its first fund raising round.<ref>[http://www.coindesk.com/seedcoin-gives-btc-sx-500-bitcoins-funding/ CoinDesk - Trading Site BTC.SX Receives 500 Bitcoins in Seedcoin Funding Round]</ref> The company has recieved a total of US$0.45 million investment as a result of initial capital injections and its equity fundraising activities.<ref>[http://www.zdnet.com/startup-opens-bitcoin-only-margin-trading-platform-7000019715/ ZDNet - Startup opens Bitcoin-only margin trading platform]</ref>

==Service disruptions==

In February 2014 [[Mt. Gox]] was struck by a theft, it was the world's largest bitcoin exchange and at its peak handled 70% of all bitcoin trades.<ref>[http://blogs.wsj.com/briefly/2014/02/25/5-things-about-mt-goxs-crisis/ 5 things about Mt. Gox's crisis]</ref> The loss of 750,000 bitcoins (at the time worth over $350m) triggered immediate insolvency and caused its subsequent collapse.<ref>[http://www.theguardian.com/technology/2014/feb/25/bitcoin-exchange-mtgox-offline-amid-rumours-of-theft The Guardian - Bitcoin exchange MtGox offline amid rumours of theft]</ref> Following a trading suspension issued by Btc.sx, it was revealed that Btc.sx had partnered with [[Mt. Gox]] to offer its [[brokerage|brokered]] trading service and suffered from undisclosed losses as a result of the collapse.<ref>[http://www.coindesk.com/bitcoin-derivatives-market-btc-sx-suspends-trading-amid-turmoil-partner-mt-gox/ CoinDesk - Bitcoin Derivatives Market Btc.sx Suspends Trading Amid Turmoil at Partner Mt. Gox]</ref>

==Regulation==

Btc.sx operates in a climate of regulatory uncertainty with no specific laws enforced to provide protection to its clients globally. The New York State Department of Financial Services who is overseen by Superintendent Benjamin Lawsky hopes to be the first regulatory body to provide a full framework for [[virtual currency]] businesses.<ref>[http://www.dfs.ny.gov/about/press2014/pr1407171.html New York State Department of Financial Services - NY DFS RELEASES PROPOSED BITLICENSE REGULATORY FRAMEWORK FOR VIRTUAL CURRENCY FIRMS]</ref> The DFS guidelines are percieved by many bitcoin companies to be overbearing with fierce opposition coming from [[Jeremy Allaire]], CEO of bitcoin startup [[Circle (company)|Circle]].<ref>[http://www.coindesk.com/circle-bitlicense-block-new-york-customers/ CoinDesk - Circle: BitLicense Would Force Us to Block New York Customers]</ref>. With operations in New York, the BitLicense regulations will directly affect Btc.sx and similar bitcoin businesses.

==External links==
*[https://btc.sx Official Website: Btc.sx Bitcoin Trading]

==References==
<references />

[[Category:Trading]]

Btc.sx

2014-08-25T15:31:21Z

Seal:

{{Infobox company
| image = [[File:Btc.sx Logo 2014.png|220px|link=https://btc.sx]]
| type = [[Private company|Private]]
| name = Btc.sx
| trading_name = Btc.sx
| industry=[[Trade | FX Trading]], Brokerage, Financial Services
| location = [[London]]
| foundation = May, 2013
| key_people = Joseph Lee (Founder and [[CEO]]), George Samman (Co-Founder), Vincent Hoong (Co-Founder)
| area_served = Worldwide
| pairs= USD/BTC
| website=https://1bse.com
}}

'''Btc.sx''' is a multinational company that engages in leveraged [[bitcoin]] [[trade | trading]] and [[brokerage]]. The company offers a trading platform in [[digital currency]] derivatives such as [[margin trading]] to retail traders. It was founded in 2013 and is headquartered in London's Silicon Roundabout. ZDNet reports Btc.sx to be one of the first bitcoin companies that voided the necessity of all other currencies other than Bitcoin.<ref>[http://www.zdnet.com/startup-opens-bitcoin-only-margin-trading-platform-7000019715/ ZDNet - Startup opens Bitcoin-only margin trading platform]</ref> The company was launched from [[Sydney]], [[Australia]], and is run by CEO Joseph Lee who co-founded the company alongside George Samman and Vincent Hoong.<ref>[https://btc.sx/about/team/ | accessdate=2014-08-21 Btc.sx - About the Btc.sx Team]</ref> Shortly after its launch, Lee moved operations to [[London]] favouring a dual incorporation model between [[Singapore]] and [[United Kingdom]].<ref>[http://www.afr.com/p/business/enterprise/tech_start_ups_leave_oz_over_tax_YHf6ExICdaRAyopKKiZ2zI Australian Financial Review - Tech start-ups leave Oz over tax]</ref> The company also has operations in [[New York]].

==Trading==
===Buying and selling===

Users of Btc.sx can open long and short positions using the proprietary trading platform. A corresponding buy and sell order is then placed out to market at a matching exchange with or without leverage. All positions opened will have a corresponding position placed out to market meaning that any profits gained or losses generated from market movements will be passed on directly to the client.

===Position Deposits===

Trading at Btc.sx is done on a pre-paid basis. In order to open a position, a deposit is taken which acts as collateral. This collateral will act as an equivalent of a margin call. This is the price at which a position will be automatically liquidated if losses accrue to the deposited amount. The margin call is shown as a stop price when the position is opened. A larger deposit will enable a bigger stop distance to be chosen. This can result in larger losses if the price moves against the desired direction.

===Features===
Leverage - 10:1, 5:1, 2:1 
Volatility Multiplier - 15% 
Execution Type - at best execution over ECN 
Minimum Trade Size - $5 equates to ~$50 Trade at 10:1 
Maximum Trade Size - $1000 equates to ~$10,000 Trade at 10:1<ref>[https://btc.sx/about/fees/ Btc.sx - Trading Fee Schedule]</ref>

==Fees==

===Transaction Fees===

====BTC====

Deposit - zero fees (minimum of 0.001 Btc) 
Withdrawal - zero fees (minimum of 0.001 Btc)

Funds are deposited once 3 [[confirmation|confirmations]] are recieved, this is a process that typically takes 30 minutes.

====USD====

Btc.sx does not accept fiat. All positions deposits are in Bitcoin.

===Trade Fees===

Open and Close - 0.5% 
Gap Losses - zero

==Risk Matrix==

As well as magnifying trading gains, losses can similarly be multiplied. For beginners, it is widely reccomended that trading with a smaller amount of leverage will result in a lower risk whilst learning about the platform while trading. Despite its higher minimum deposit, potential losses will be minimised due to the unlikely nature that a stop limit will be reached.<ref>[https://support.btc.sx/hc/en-gb/articles/201070362-What-is-Leveraged-Trading- Btc.sx - What is Leveraged Trading?]</ref>

{| class="wikitable"
|-
! Leverage || Stop Distance || Risk || Return (Profit or Loss) || Minimum Deposit
|-
| 10:1 || Small || High || High || $5
|-
| 5:1 || Medium || Medium || Medium || $10
|-
| 2:1 || Large || Low || Low || $20
|}

==Reception==

Following the [[Mt. Gox]] collapse, Btc.sx announced a new exchange partnership with [[Bitstamp]] now placing its orders out to market.<ref>[https://btc.sx/news/normal-trading-resumed/ Btc.sx - Normal Trading Resumed]</ref> The trading platform announced in March 2014 the brokerage of over $40m in brokered transactions.<ref>[http://www.coindesk.com/btc-sx-resumes-trading-mt-gox-induced-freeze/ CoinDesk - Bitcoin Derivatives Platform BTC.SX Resumes Trading After Mt Gox-Induced Freeze]</ref>

==Capital investments==

In April 2014, Btc.sx recieved 500 bitcoins from the seed accelerator, [[SeedCoin]] in its first fund raising round.<ref>[http://www.coindesk.com/seedcoin-gives-btc-sx-500-bitcoins-funding/ CoinDesk - Trading Site BTC.SX Receives 500 Bitcoins in Seedcoin Funding Round]</ref> The company has recieved a total of US$0.45 million investment as a result of initial capital injections and its equity fundraising activities.<ref>[http://www.zdnet.com/startup-opens-bitcoin-only-margin-trading-platform-7000019715/ ZDNet - Startup opens Bitcoin-only margin trading platform]</ref>

==Service disruptions==

In February 2014 [[Mt. Gox]] was struck by a theft, it was the world's largest bitcoin exchange and at its peak handled 70% of all bitcoin trades.<ref>[http://blogs.wsj.com/briefly/2014/02/25/5-things-about-mt-goxs-crisis/ 5 things about Mt. Gox's crisis]</ref> The loss of 750,000 bitcoins (at the time worth over $350m) triggered immediate insolvency and caused its subsequent collapse.<ref>[http://www.theguardian.com/technology/2014/feb/25/bitcoin-exchange-mtgox-offline-amid-rumours-of-theft The Guardian - Bitcoin exchange MtGox offline amid rumours of theft]</ref> Following a trading suspension issued by Btc.sx, it was revealed that Btc.sx had partnered with [[Mt. Gox]] to offer its [[brokerage|brokered]] trading service and suffered from undisclosed losses as a result of the collapse.<ref>[http://www.coindesk.com/bitcoin-derivatives-market-btc-sx-suspends-trading-amid-turmoil-partner-mt-gox/ CoinDesk - Bitcoin Derivatives Market Btc.sx Suspends Trading Amid Turmoil at Partner Mt. Gox]</ref>

==Regulation==

Btc.sx operates in a climate of regulatory uncertainty with no specific laws enforced to provide protection to its clients globally. The New York State Department of Financial Services who is overseen by Superintendent Benjamin Lawsky hopes to be the first regulatory body to provide a full framework for [[virtual currency]] businesses.<ref>[http://www.dfs.ny.gov/about/press2014/pr1407171.html New York State Department of Financial Services - NY DFS RELEASES PROPOSED BITLICENSE REGULATORY FRAMEWORK FOR VIRTUAL CURRENCY FIRMS]</ref> The DFS guidelines are percieved by many bitcoin companies to be overbearing with fierce opposition coming from [[Jeremy Allaire]], CEO of bitcoin startup [[Circle (company)|Circle]].<ref>[http://www.coindesk.com/circle-bitlicense-block-new-york-customers/ CoinDesk - Circle: BitLicense Would Force Us to Block New York Customers]</ref>. With operations in New York, the BitLicense regulations will directly affect Btc.sx and similar bitcoin businesses.

==External links==
*[https://btc.sx Official Website: Btc.sx Bitcoin Trading]

==References==
<references />

[[Category:Trading]]

Btc.sx

2014-08-25T15:29:59Z

Seal:

{{Infobox company
| image = [[File:Btc.sx Logo 2014.png|220px|link=https://btc.sx]]
| type = [[Private company|Private]]
| name = Btc.sx
| trading_name = Btc.sx
| industry=[[Trade | FX Trading]], Brokerage, Financial Services
| location = [[London]]
| foundation = May, 2013
| key_people = Joseph Lee (Founder and [[CEO]]), George Samman (Co-Founder), Vincent Hoong (Co-Founder)
| area_served = Worldwide
| pairs= USD/BTC
| homepage = [https://btc.sx/ Btc.sx]
}}

'''Btc.sx''' is a multinational company that engages in leveraged [[bitcoin]] [[trade | trading]] and [[brokerage]]. The company offers a trading platform in [[digital currency]] derivatives such as [[margin trading]] to retail traders. It was founded in 2013 and is headquartered in London's Silicon Roundabout. ZDNet reports Btc.sx to be one of the first bitcoin companies that voided the necessity of all other currencies other than Bitcoin.<ref>[http://www.zdnet.com/startup-opens-bitcoin-only-margin-trading-platform-7000019715/ ZDNet - Startup opens Bitcoin-only margin trading platform]</ref> The company was launched from [[Sydney]], [[Australia]], and is run by CEO Joseph Lee who co-founded the company alongside George Samman and Vincent Hoong.<ref>[https://btc.sx/about/team/ | accessdate=2014-08-21 Btc.sx - About the Btc.sx Team]</ref> Shortly after its launch, Lee moved operations to [[London]] favouring a dual incorporation model between [[Singapore]] and [[United Kingdom]].<ref>[http://www.afr.com/p/business/enterprise/tech_start_ups_leave_oz_over_tax_YHf6ExICdaRAyopKKiZ2zI Australian Financial Review - Tech start-ups leave Oz over tax]</ref> The company also has operations in [[New York]].

==Trading==
===Buying and selling===

Users of Btc.sx can open long and short positions using the proprietary trading platform. A corresponding buy and sell order is then placed out to market at a matching exchange with or without leverage. All positions opened will have a corresponding position placed out to market meaning that any profits gained or losses generated from market movements will be passed on directly to the client.

===Position Deposits===

Trading at Btc.sx is done on a pre-paid basis. In order to open a position, a deposit is taken which acts as collateral. This collateral will act as an equivalent of a margin call. This is the price at which a position will be automatically liquidated if losses accrue to the deposited amount. The margin call is shown as a stop price when the position is opened. A larger deposit will enable a bigger stop distance to be chosen. This can result in larger losses if the price moves against the desired direction.

===Features===
Leverage - 10:1, 5:1, 2:1 
Volatility Multiplier - 15% 
Execution Type - at best execution over ECN 
Minimum Trade Size - $5 equates to ~$50 Trade at 10:1 
Maximum Trade Size - $1000 equates to ~$10,000 Trade at 10:1<ref>[https://btc.sx/about/fees/ Btc.sx - Trading Fee Schedule]</ref>

==Fees==

===Transaction Fees===

====BTC====

Deposit - zero fees (minimum of 0.001 Btc) 
Withdrawal - zero fees (minimum of 0.001 Btc)

Funds are deposited once 3 [[confirmation|confirmations]] are recieved, this is a process that typically takes 30 minutes.

====USD====

Btc.sx does not accept fiat. All positions deposits are in Bitcoin.

===Trade Fees===

Open and Close - 0.5% 
Gap Losses - zero

==Risk Matrix==

As well as magnifying trading gains, losses can similarly be multiplied. For beginners, it is widely reccomended that trading with a smaller amount of leverage will result in a lower risk whilst learning about the platform while trading. Despite its higher minimum deposit, potential losses will be minimised due to the unlikely nature that a stop limit will be reached.<ref>[https://support.btc.sx/hc/en-gb/articles/201070362-What-is-Leveraged-Trading- Btc.sx - What is Leveraged Trading?]</ref>

{| class="wikitable"
|-
! Leverage || Stop Distance || Risk || Return (Profit or Loss) || Minimum Deposit
|-
| 10:1 || Small || High || High || $5
|-
| 5:1 || Medium || Medium || Medium || $10
|-
| 2:1 || Large || Low || Low || $20
|}

==Reception==

Following the [[Mt. Gox]] collapse, Btc.sx announced a new exchange partnership with [[Bitstamp]] now placing its orders out to market.<ref>[https://btc.sx/news/normal-trading-resumed/ Btc.sx - Normal Trading Resumed]</ref> The trading platform announced in March 2014 the brokerage of over $40m in brokered transactions.<ref>[http://www.coindesk.com/btc-sx-resumes-trading-mt-gox-induced-freeze/ CoinDesk - Bitcoin Derivatives Platform BTC.SX Resumes Trading After Mt Gox-Induced Freeze]</ref>

==Capital investments==

In April 2014, Btc.sx recieved 500 bitcoins from the seed accelerator, [[SeedCoin]] in its first fund raising round.<ref>[http://www.coindesk.com/seedcoin-gives-btc-sx-500-bitcoins-funding/ CoinDesk - Trading Site BTC.SX Receives 500 Bitcoins in Seedcoin Funding Round]</ref> The company has recieved a total of US$0.45 million investment as a result of initial capital injections and its equity fundraising activities.<ref>[http://www.zdnet.com/startup-opens-bitcoin-only-margin-trading-platform-7000019715/ ZDNet - Startup opens Bitcoin-only margin trading platform]</ref>

==Service disruptions==

In February 2014 [[Mt. Gox]] was struck by a theft, it was the world's largest bitcoin exchange and at its peak handled 70% of all bitcoin trades.<ref>[http://blogs.wsj.com/briefly/2014/02/25/5-things-about-mt-goxs-crisis/ 5 things about Mt. Gox's crisis]</ref> The loss of 750,000 bitcoins (at the time worth over $350m) triggered immediate insolvency and caused its subsequent collapse.<ref>[http://www.theguardian.com/technology/2014/feb/25/bitcoin-exchange-mtgox-offline-amid-rumours-of-theft The Guardian - Bitcoin exchange MtGox offline amid rumours of theft]</ref> Following a trading suspension issued by Btc.sx, it was revealed that Btc.sx had partnered with [[Mt. Gox]] to offer its [[brokerage|brokered]] trading service and suffered from undisclosed losses as a result of the collapse.<ref>[http://www.coindesk.com/bitcoin-derivatives-market-btc-sx-suspends-trading-amid-turmoil-partner-mt-gox/ CoinDesk - Bitcoin Derivatives Market Btc.sx Suspends Trading Amid Turmoil at Partner Mt. Gox]</ref>

==Regulation==

Btc.sx operates in a climate of regulatory uncertainty with no specific laws enforced to provide protection to its clients globally. The New York State Department of Financial Services who is overseen by Superintendent Benjamin Lawsky hopes to be the first regulatory body to provide a full framework for [[virtual currency]] businesses.<ref>[http://www.dfs.ny.gov/about/press2014/pr1407171.html New York State Department of Financial Services - NY DFS RELEASES PROPOSED BITLICENSE REGULATORY FRAMEWORK FOR VIRTUAL CURRENCY FIRMS]</ref> The DFS guidelines are percieved by many bitcoin companies to be overbearing with fierce opposition coming from [[Jeremy Allaire]], CEO of bitcoin startup [[Circle (company)|Circle]].<ref>[http://www.coindesk.com/circle-bitlicense-block-new-york-customers/ CoinDesk - Circle: BitLicense Would Force Us to Block New York Customers]</ref>. With operations in New York, the BitLicense regulations will directly affect Btc.sx and similar bitcoin businesses.

==External links==
*[https://btc.sx Official Website: Btc.sx Bitcoin Trading]

==References==
<references />

[[Category:Trading]]

Btc.sx

2014-08-25T15:21:59Z

Seal: corrected a missing closing ref tag

{{Infobox company
| image = [[File:Btc.sx Logo 2014.png|220px|link=https://btc.sx]]
| type = [[Private company|Private]]
| name = Btc.sx
| trading_name = Btc.sx
| industry=[[Trade | FX Trading]], Brokerage, Financial Services
| location = [[London]]
| foundation = May, 2013
| key_people = Joseph Lee (Founder and [[CEO]]), George Samman (Co-Founder), Vincent Hoong (Co-Founder)
| area_served = Worldwide
| pairs= USD/BTC
| homepage = [https://btc.sx/ Btc.sx]
}}

'''Btc.sx''' is a multinational company that engages in leveraged [[bitcoin]] [[trade | trading]] and [[brokerage]]. The company offers a trading platform in [[digital currency]] derivatives such as [[margin trading]] to retail traders. It was founded in 2013 and is headquartered in London's Silicon Roundabout. ZDNet reports Btc.sx to be one of the first bitcoin companies that voided the necessity of all other currencies other than Bitcoin.<ref>[http://www.zdnet.com/startup-opens-bitcoin-only-margin-trading-platform-7000019715/ ZDNet - Startup opens Bitcoin-only margin trading platform]</ref> The company was launched from [[Sydney]], [[Australia]], and is run by CEO Joseph Lee who co-founded the company alongside George Samman and Vincent Hoong.<ref>[https://btc.sx/about/team/ | accessdate=2014-08-21 Btc.sx - About the Btc.sx Team]</ref> Shortly after its launch, Lee moved operations to [[London]] favouring a dual incorporation model between [[Singapore]] and [[United Kingdom]].<ref>[http://www.afr.com/p/business/enterprise/tech_start_ups_leave_oz_over_tax_YHf6ExICdaRAyopKKiZ2zI Australian Financial Review - Tech start-ups leave Oz over tax]</ref> The company also has operations in [[New York]].

==Trading==
===Buying and selling===

Users of Btc.sx can open long and short positions using the proprietary trading platform. A corresponding buy and sell order is then placed out to market at a matching exchange with or without leverage. All positions opened will have a corresponding position placed out to market meaning that any profits gained or losses generated from market movements will be passed on directly to the client.

===Position Deposits===

Trading at Btc.sx is done on a pre-paid basis. In order to open a position, a deposit is taken which acts as collateral. This collateral will act as an equivalent of a margin call. This is the price at which a position will be automatically liquidated if losses accrue to the deposited amount. The margin call is shown as a stop price when the position is opened. A larger deposit will enable a bigger stop distance to be chosen. This can result in larger losses if the price moves against the desired direction.

===Features===
Leverage - 10:1, 5:1, 2:1 
Volatility Multiplier - 15% 
Execution Type - at best execution over ECN 
Minimum Trade Size - $5 equates to ~$50 Trade at 10:1 
Maximum Trade Size - $1000 equates to ~$10,000 Trade at 10:1<ref>[https://btc.sx/about/fees/ Btc.sx - Trading Fee Schedule]</ref>

===Fees===

====Transaction Fees====

=====BTC=====

Deposit - zero fees (minimum of 0.001 Btc) 
Withdrawal - zero fees (minimum of 0.001 Btc)

Funds are deposited once 3 [[confirmation|confirmations]] are recieved, this is a process that typically takes 30 minutes.

=====USD=====

Btc.sx does not accept fiat. All positions deposits are in Bitcoin.

====Trade Fees====

Open and Close - 0.5% 
Gap Losses - zero

===Risk Matrix===

As well as magnifying trading gains, losses can similarly be multiplied. For beginners, it is widely reccomended that trading with a smaller amount of leverage will result in a lower risk whilst learning about the platform while trading. Despite its higher minimum deposit, potential losses will be minimised due to the unlikely nature that a stop limit will be reached.<ref>[https://support.btc.sx/hc/en-gb/articles/201070362-What-is-Leveraged-Trading- Btc.sx - What is Leveraged Trading?]</ref>

{| class="wikitable"
|-
! Leverage || Stop Distance || Risk || Return (Profit or Loss) || Minimum Deposit
|-
| 10:1 || Small || High || High || $5
|-
| 5:1 || Medium || Medium || Medium || $10
|-
| 2:1 || Large || Low || Low || $20
|}

==Reception==

Following the [[Mt. Gox]] collapse, Btc.sx announced a new exchange partnership with [[Bitstamp]] now placing its orders out to market.<ref>[https://btc.sx/news/normal-trading-resumed/ Btc.sx - Normal Trading Resumed]</ref> The trading platform announced in March 2014 the brokerage of over $40m in brokered transactions.<ref>[http://www.coindesk.com/btc-sx-resumes-trading-mt-gox-induced-freeze/ CoinDesk - Bitcoin Derivatives Platform BTC.SX Resumes Trading After Mt Gox-Induced Freeze]</ref>

==Capital investments==

In April 2014, Btc.sx recieved 500 bitcoins from the seed accelerator, [[SeedCoin]] in its first fund raising round.<ref>[http://www.coindesk.com/seedcoin-gives-btc-sx-500-bitcoins-funding/ CoinDesk - Trading Site BTC.SX Receives 500 Bitcoins in Seedcoin Funding Round]</ref> The company has recieved a total of US$0.45 million investment as a result of initial capital injections and its equity fundraising activities.<ref>[http://www.zdnet.com/startup-opens-bitcoin-only-margin-trading-platform-7000019715/ ZDNet - Startup opens Bitcoin-only margin trading platform]</ref>

==Service disruptions==

In February 2014 [[Mt. Gox]] was struck by a theft, it was the world's largest bitcoin exchange and at its peak handled 70% of all bitcoin trades.<ref>[http://blogs.wsj.com/briefly/2014/02/25/5-things-about-mt-goxs-crisis/ 5 things about Mt. Gox's crisis]</ref> The loss of 750,000 bitcoins (at the time worth over $350m) triggered immediate insolvency and caused its subsequent collapse.<ref>[http://www.theguardian.com/technology/2014/feb/25/bitcoin-exchange-mtgox-offline-amid-rumours-of-theft The Guardian - Bitcoin exchange MtGox offline amid rumours of theft]</ref> Following a trading suspension issued by Btc.sx, it was revealed that Btc.sx had partnered with [[Mt. Gox]] to offer its [[brokerage|brokered]] trading service and suffered from undisclosed losses as a result of the collapse.<ref>[http://www.coindesk.com/bitcoin-derivatives-market-btc-sx-suspends-trading-amid-turmoil-partner-mt-gox/ CoinDesk - Bitcoin Derivatives Market Btc.sx Suspends Trading Amid Turmoil at Partner Mt. Gox]</ref>

==Regulation==

Btc.sx operates in a climate of regulatory uncertainty with no specific laws enforced to provide protection to its clients globally. The New York State Department of Financial Services who is overseen by Superintendent Benjamin Lawsky hopes to be the first regulatory body to provide a full framework for [[virtual currency]] businesses.<ref>[http://www.dfs.ny.gov/about/press2014/pr1407171.html New York State Department of Financial Services - NY DFS RELEASES PROPOSED BITLICENSE REGULATORY FRAMEWORK FOR VIRTUAL CURRENCY FIRMS]</ref> The DFS guidelines are percieved by many bitcoin companies to be overbearing with fierce opposition coming from [[Jeremy Allaire]], CEO of bitcoin startup [[Circle (company)|Circle]].<ref>[http://www.coindesk.com/circle-bitlicense-block-new-york-customers/ CoinDesk - Circle: BitLicense Would Force Us to Block New York Customers]</ref>. With operations in New York, the BitLicense regulations will directly affect Btc.sx and similar bitcoin businesses.

==External links==
*[https://btc.sx Official Website: Btc.sx Bitcoin Trading]

==References==
<references />

[[Category:Trading]]

Btc.sx

2014-08-25T15:17:20Z

Seal: Added proper references tag

{{Infobox company
| image = [[File:Btc.sx Logo 2014.png|220px|link=https://btc.sx]]
| type = [[Private company|Private]]
| name = Btc.sx
| trading_name = Btc.sx
| industry=[[Trade | FX Trading]], Brokerage, Financial Services
| location = [[London]]
| foundation = May, 2013
| key_people = Joseph Lee (Founder and [[CEO]]), George Samman (Co-Founder), Vincent Hoong (Co-Founder)
| area_served = Worldwide
| pairs= USD/BTC
| homepage = [https://btc.sx/ Btc.sx]
}}

'''Btc.sx''' is a multinational company that engages in leveraged [[bitcoin]] [[trade | trading]] and [[brokerage]]. The company offers a trading platform in [[digital currency]] derivatives such as [[margin trading]] to retail traders. It was founded in 2013 and is headquartered in London's Silicon Roundabout. ZDNet reports Btc.sx to be one of the first bitcoin companies that voided the necessity of all other currencies other than Bitcoin.<ref>[http://www.zdnet.com/startup-opens-bitcoin-only-margin-trading-platform-7000019715/ ZDNet - Startup opens Bitcoin-only margin trading platform]</ref> The company was launched from [[Sydney]], [[Australia]], and is run by CEO Joseph Lee who co-founded the company alongside George Samman and Vincent Hoong.<ref>[https://btc.sx/about/team/ | accessdate=2014-08-21 Btc.sx - About the Btc.sx Team]</ref> Shortly after its launch, Lee moved operations to [[London]] favouring a dual incorporation model between [[Singapore]] and [[United Kingdom]].<ref>[http://www.afr.com/p/business/enterprise/tech_start_ups_leave_oz_over_tax_YHf6ExICdaRAyopKKiZ2zI Australian Financial Review - Tech start-ups leave Oz over tax]</ref> The company also has operations in [[New York]].

==Trading==
===Buying and selling===

Users of Btc.sx can open long and short positions using the proprietary trading platform. A corresponding buy and sell order is then placed out to market at a matching exchange with or without leverage. All positions opened will have a corresponding position placed out to market meaning that any profits gained or losses generated from market movements will be passed on directly to the client.

===Position Deposits===

Trading at Btc.sx is done on a pre-paid basis. In order to open a position, a deposit is taken which acts as collateral. This collateral will act as an equivalent of a margin call. This is the price at which a position will be automatically liquidated if losses accrue to the deposited amount. The margin call is shown as a stop price when the position is opened. A larger deposit will enable a bigger stop distance to be chosen. This can result in larger losses if the price moves against the desired direction.

===Features===
Leverage - 10:1, 5:1, 2:1 
Volatility Multiplier - 15% 
Execution Type - at best execution over ECN 
Minimum Trade Size - $5 equates to ~$50 Trade at 10:1 
Maximum Trade Size - $1000 equates to ~$10,000 Trade at 10:1<ref>[https://btc.sx/about/fees/ Btc.sx - Trading Fee Schedule]

===Fees===

====Transaction Fees====

=====BTC=====

Deposit - zero fees (minimum of 0.001 Btc) 
Withdrawal - zero fees (minimum of 0.001 Btc)

Funds are deposited once 3 [[confirmation|confirmations]] are recieved, this is a process that typically takes 30 minutes.

=====USD=====

Btc.sx does not accept fiat. All positions deposits are in Bitcoin.

====Trade Fees====

Open and Close - 0.5% 
Gap Losses - zero

===Risk Matrix===

As well as magnifying trading gains, losses can similarly be multiplied. For beginners, it is widely reccomended that trading with a smaller amount of leverage will result in a lower risk whilst learning about the platform while trading. Despite its higher minimum deposit, potential losses will be minimised due to the unlikely nature that a stop limit will be reached.<ref>[https://support.btc.sx/hc/en-gb/articles/201070362-What-is-Leveraged-Trading- Btc.sx - What is Leveraged Trading?]</ref>

{| class="wikitable"
|-
! Leverage || Stop Distance || Risk || Return (Profit or Loss) || Minimum Deposit
|-
| 10:1 || Small || High || High || $5
|-
| 5:1 || Medium || Medium || Medium || $10
|-
| 2:1 || Large || Low || Low || $20
|}

==Reception==

Following the [[Mt. Gox]] collapse, Btc.sx announced a new exchange partnership with [[Bitstamp]] now placing its orders out to market.<ref>[https://btc.sx/news/normal-trading-resumed/ Btc.sx - Normal Trading Resumed]</ref> The trading platform announced in March 2014 the brokerage of over $40m in brokered transactions.<ref>[http://www.coindesk.com/btc-sx-resumes-trading-mt-gox-induced-freeze/ CoinDesk - Bitcoin Derivatives Platform BTC.SX Resumes Trading After Mt Gox-Induced Freeze]</ref>

==Capital investments==

In April 2014, Btc.sx recieved 500 bitcoins from the seed accelerator, [[SeedCoin]] in its first fund raising round.<ref>[http://www.coindesk.com/seedcoin-gives-btc-sx-500-bitcoins-funding/ CoinDesk - Trading Site BTC.SX Receives 500 Bitcoins in Seedcoin Funding Round]</ref> The company has recieved a total of US$0.45 million investment as a result of initial capital injections and its equity fundraising activities.<ref>[http://www.zdnet.com/startup-opens-bitcoin-only-margin-trading-platform-7000019715/ ZDNet - Startup opens Bitcoin-only margin trading platform]</ref>

==Service disruptions==

In February 2014 [[Mt. Gox]] was struck by a theft, it was the world's largest bitcoin exchange and at its peak handled 70% of all bitcoin trades.<ref>[http://blogs.wsj.com/briefly/2014/02/25/5-things-about-mt-goxs-crisis/ 5 things about Mt. Gox's crisis]</ref> The loss of 750,000 bitcoins (at the time worth over $350m) triggered immediate insolvency and caused its subsequent collapse.<ref>[http://www.theguardian.com/technology/2014/feb/25/bitcoin-exchange-mtgox-offline-amid-rumours-of-theft The Guardian - Bitcoin exchange MtGox offline amid rumours of theft]</ref> Following a trading suspension issued by Btc.sx, it was revealed that Btc.sx had partnered with [[Mt. Gox]] to offer its [[brokerage|brokered]] trading service and suffered from undisclosed losses as a result of the collapse.<ref>[http://www.coindesk.com/bitcoin-derivatives-market-btc-sx-suspends-trading-amid-turmoil-partner-mt-gox/ CoinDesk - Bitcoin Derivatives Market Btc.sx Suspends Trading Amid Turmoil at Partner Mt. Gox]</ref>

==Regulation==

Btc.sx operates in a climate of regulatory uncertainty with no specific laws enforced to provide protection to its clients globally. The New York State Department of Financial Services who is overseen by Superintendent Benjamin Lawsky hopes to be the first regulatory body to provide a full framework for [[virtual currency]] businesses.<ref>[http://www.dfs.ny.gov/about/press2014/pr1407171.html New York State Department of Financial Services - NY DFS RELEASES PROPOSED BITLICENSE REGULATORY FRAMEWORK FOR VIRTUAL CURRENCY FIRMS]</ref> The DFS guidelines are percieved by many bitcoin companies to be overbearing with fierce opposition coming from [[Jeremy Allaire]], CEO of bitcoin startup [[Circle (company)|Circle]].<ref>[http://www.coindesk.com/circle-bitlicense-block-new-york-customers/ CoinDesk - Circle: BitLicense Would Force Us to Block New York Customers]</ref>. With operations in New York, the BitLicense regulations will directly affect Btc.sx and similar bitcoin businesses.

==External links==
*[https://btc.sx Official Website: Btc.sx Bitcoin Trading]

==References==
<references />

[[Category:Trading]]

Btc.sx

2014-08-25T15:15:03Z

Seal: Btc.sx company details, publicly available from their home page as well as sources specified and referenced

{{Infobox company
| image = [[File:Btc.sx Logo 2014.png|220px|link=https://btc.sx]]
| type = [[Private company|Private]]
| name = Btc.sx
| trading_name = Btc.sx
| industry=[[Trade | FX Trading]], Brokerage, Financial Services
| location = [[London]]
| foundation = May, 2013
| key_people = Joseph Lee (Founder and [[CEO]]), George Samman (Co-Founder), Vincent Hoong (Co-Founder)
| area_served = Worldwide
| pairs= USD/BTC
| homepage = [https://btc.sx/ Btc.sx]
}}

'''Btc.sx''' is a multinational company that engages in leveraged [[bitcoin]] [[trade | trading]] and [[brokerage]]. The company offers a trading platform in [[digital currency]] derivatives such as [[margin trading]] to retail traders. It was founded in 2013 and is headquartered in London's Silicon Roundabout. ZDNet reports Btc.sx to be one of the first bitcoin companies that voided the necessity of all other currencies other than Bitcoin.<ref>[http://www.zdnet.com/startup-opens-bitcoin-only-margin-trading-platform-7000019715/ ZDNet - Startup opens Bitcoin-only margin trading platform]</ref> The company was launched from [[Sydney]], [[Australia]], and is run by CEO Joseph Lee who co-founded the company alongside George Samman and Vincent Hoong.<ref>[https://btc.sx/about/team/ | accessdate=2014-08-21 Btc.sx - About the Btc.sx Team]</ref> Shortly after its launch, Lee moved operations to [[London]] favouring a dual incorporation model between [[Singapore]] and [[United Kingdom]].<ref>[http://www.afr.com/p/business/enterprise/tech_start_ups_leave_oz_over_tax_YHf6ExICdaRAyopKKiZ2zI Australian Financial Review - Tech start-ups leave Oz over tax]</ref> The company also has operations in [[New York]].

==Trading==
===Buying and selling===

Users of Btc.sx can open long and short positions using the proprietary trading platform. A corresponding buy and sell order is then placed out to market at a matching exchange with or without leverage. All positions opened will have a corresponding position placed out to market meaning that any profits gained or losses generated from market movements will be passed on directly to the client.

===Position Deposits===

Trading at Btc.sx is done on a pre-paid basis. In order to open a position, a deposit is taken which acts as collateral. This collateral will act as an equivalent of a margin call. This is the price at which a position will be automatically liquidated if losses accrue to the deposited amount. The margin call is shown as a stop price when the position is opened. A larger deposit will enable a bigger stop distance to be chosen. This can result in larger losses if the price moves against the desired direction.

===Features===
Leverage - 10:1, 5:1, 2:1 
Volatility Multiplier - 15% 
Execution Type - at best execution over ECN 
Minimum Trade Size - $5 equates to ~$50 Trade at 10:1 
Maximum Trade Size - $1000 equates to ~$10,000 Trade at 10:1<ref>[https://btc.sx/about/fees/ Btc.sx - Trading Fee Schedule]

===Fees===

====Transaction Fees====

=====BTC=====

Deposit - zero fees (minimum of 0.001 Btc) 
Withdrawal - zero fees (minimum of 0.001 Btc)

Funds are deposited once 3 [[confirmation|confirmations]] are recieved, this is a process that typically takes 30 minutes.

=====USD=====

Btc.sx does not accept fiat. All positions deposits are in Bitcoin.

====Trade Fees====

Open and Close - 0.5% 
Gap Losses - zero

===Risk Matrix===

As well as magnifying trading gains, losses can similarly be multiplied. For beginners, it is widely reccomended that trading with a smaller amount of leverage will result in a lower risk whilst learning about the platform while trading. Despite its higher minimum deposit, potential losses will be minimised due to the unlikely nature that a stop limit will be reached.<ref>[https://support.btc.sx/hc/en-gb/articles/201070362-What-is-Leveraged-Trading- Btc.sx - What is Leveraged Trading?]</ref>

{| class="wikitable"
|-
! Leverage || Stop Distance || Risk || Return (Profit or Loss) || Minimum Deposit
|-
| 10:1 || Small || High || High || $5
|-
| 5:1 || Medium || Medium || Medium || $10
|-
| 2:1 || Large || Low || Low || $20
|}

==Reception==

Following the [[Mt. Gox]] collapse, Btc.sx announced a new exchange partnership with [[Bitstamp]] now placing its orders out to market.<ref>[https://btc.sx/news/normal-trading-resumed/ Btc.sx - Normal Trading Resumed]</ref> The trading platform announced in March 2014 the brokerage of over $40m in brokered transactions.<ref>[http://www.coindesk.com/btc-sx-resumes-trading-mt-gox-induced-freeze/ CoinDesk - Bitcoin Derivatives Platform BTC.SX Resumes Trading After Mt Gox-Induced Freeze]</ref>

==Capital investments==

In April 2014, Btc.sx recieved 500 bitcoins from the seed accelerator, [[SeedCoin]] in its first fund raising round.<ref>[http://www.coindesk.com/seedcoin-gives-btc-sx-500-bitcoins-funding/ CoinDesk - Trading Site BTC.SX Receives 500 Bitcoins in Seedcoin Funding Round]</ref> The company has recieved a total of US$0.45 million investment as a result of initial capital injections and its equity fundraising activities.<ref>[http://www.zdnet.com/startup-opens-bitcoin-only-margin-trading-platform-7000019715/ ZDNet - Startup opens Bitcoin-only margin trading platform]</ref>

==Service disruptions==

In February 2014 [[Mt. Gox]] was struck by a theft, it was the world's largest bitcoin exchange and at its peak handled 70% of all bitcoin trades.<ref>[http://blogs.wsj.com/briefly/2014/02/25/5-things-about-mt-goxs-crisis/ 5 things about Mt. Gox's crisis]</ref> The loss of 750,000 bitcoins (at the time worth over $350m) triggered immediate insolvency and caused its subsequent collapse.<ref>[http://www.theguardian.com/technology/2014/feb/25/bitcoin-exchange-mtgox-offline-amid-rumours-of-theft The Guardian - Bitcoin exchange MtGox offline amid rumours of theft]</ref> Following a trading suspension issued by Btc.sx, it was revealed that Btc.sx had partnered with [[Mt. Gox]] to offer its [[brokerage|brokered]] trading service and suffered from undisclosed losses as a result of the collapse.<ref>[http://www.coindesk.com/bitcoin-derivatives-market-btc-sx-suspends-trading-amid-turmoil-partner-mt-gox/ CoinDesk - Bitcoin Derivatives Market Btc.sx Suspends Trading Amid Turmoil at Partner Mt. Gox]</ref>

==Regulation==

Btc.sx operates in a climate of regulatory uncertainty with no specific laws enforced to provide protection to its clients globally. The New York State Department of Financial Services who is overseen by Superintendent Benjamin Lawsky hopes to be the first regulatory body to provide a full framework for [[virtual currency]] businesses.<ref>[http://www.dfs.ny.gov/about/press2014/pr1407171.html New York State Department of Financial Services - NY DFS RELEASES PROPOSED BITLICENSE REGULATORY FRAMEWORK FOR VIRTUAL CURRENCY FIRMS]</ref> The DFS guidelines are percieved by many bitcoin companies to be overbearing with fierce opposition coming from [[Jeremy Allaire]], CEO of bitcoin startup [[Circle (company)|Circle]].<ref>[http://www.coindesk.com/circle-bitlicense-block-new-york-customers/ CoinDesk - Circle: BitLicense Would Force Us to Block New York Customers]</ref>. With operations in New York, the BitLicense regulations will directly affect Btc.sx and similar bitcoin businesses.

==External links==
*[https://btc.sx Official Website: Btc.sx Bitcoin Trading]

[[Category:Trading]]

File:Btc.sx Logo 2014.png

2014-08-25T13:49:05Z

Seal: Btc.sx Bitcoin Trading Company Logo 2014

== Summary ==
Btc.sx Bitcoin Trading Company Logo 2014
== Licensing ==
{{Copyrighted free use}}