Let the journey begin! A story of a blockchain startup.
The idea is to document the journey of our blockchain startup from the first days of Alpha testing all the way into ICO and beyond.
The purpose is to test all available and reasonable means of testing, marketing and ICO to reach the goal of making it to the market and becoming a new derivative trading platform.
We will do our best to provide detailed reports of all our efforts so the next team can hopefully benefit from our mistakes and successes.
The project ICO site is www.rangetrade.info and the platform www.range.trade
We are an IT company with just over a decade experience of developing and consulting in FinTech. The project is internal; born and developed by our team.
We do not have big name backers or VC’s to rely on. What we have is our experience in blockchain, dedication, belief and a vision of our product doing great things for crypto.
Hypothesis. We are witnessing, perhaps, one of the biggest paradoxes of our times. A new asset class being born — crypto — with sole purpose to disrupt existing dominance of fiat financial system. Crypto currencies (BTC, ETH, …) which are built on blockchain negate necessity for existence of our financial system pillars — banks. Yet, we are using modern-day financial mechanisms and technical analysis to facilitate crypto markets. In my opinion, using ETFs as investment venue for crypto is borderline insane. Yet, billions are being made by exchanges offering them.
Can money be made trading crypto — of course. However, here are a couple of simple facts;
Ninety-two percent of day traders trying to scalp — lose money. Only eight percent are successful. Out of the eight percent, only two percent of the day trading public make money on a consistent basis. Why do 92 percent of day traders fail and what makes eight percent successful? Well, this is a subject for another journal :)
Currently, if one wants exposure to crypto, the choices are limited to fast growing number of crypto exchanges and ETFs. Both, require investment/trading knowledge to have a faint hope of success.
There are a consequential changes in individual approach to investing. Over the last decade we have witnessed a major shift in number of individual investors direct participation in financial markets. Availability of trading platforms on our home PCs and mobile devises has brought all major financial instruments into our living room. The days of day trading being reserved only to brokers are long gone.
As the technology gap narrows between institutional and retail, investors are deciding to take their financial future in to their own hands. Today there are 54 million self-directed investors, increasing 4.9% annually compared to non self-directed at only 1.4%. Previous average returns for self-directed investors are at 17.1% vs. investors who use financial advisers at 14.1%.
Individual investing is becoming more and more prevalent. According to Aite Group, about a quarter of all U.S. adults with internet access are retail online traders, and an additional 6 percent are professionals, for a total U.S. individual trading population of 54 million.
It is this new accessibility to self-investment venues paired with FOMO contributed to hyperbolic rise and fall of crypto in the late 2017 early 2018 (not saying this was the only reason). Human nature is the beast which feeds on our ambitions.
So, this is where our project Range.Trade comes in. We want to create a new derivate Range.Trade platform which will enable experienced commodities traders and crypto enthusiasts to earn substantial returns. We also want to enable passive investors who seek access to crypto markets but lack the knowledge, to participate and earn by giving successful Range Traders their investment capital directly (Shadow.Investing).
Blockchain immutability provides track records for the traders which are used as proof-of-work for Shadow.Investors. Every trade is stored in distributed ledger. There is no middle man. Full transparency for every trade, every investment. This will be the platform which truly fits the purpose of crypto; free, unabated flow of funds to facilitate exactly what is mandated by the smart contract.
Vitalik Buterin recently raised the importance of increasing crypto adoption. Range.Trade aims to provide a new direct channel for vast number of passive investors to enter crypto markets.
In the course of the next few days, I will post what has been done so far, and the results. This will be unbiased, free of any comm interest account of our efforts.
Do remember: When you try to control everything, everything controls you.
