Lolli, an affiliate retail startup that gives online shoppers bitcoin instead of regular cash-back perks, just announced its first Asian partnership with Chinese e-commerce giant Alibaba.
Lolli’s in-browser app allows users to shop through merchants’ websites as they normally would, but earn small bitcoin rewards delivered to the in-browser wallet.
CoinDesk reached out to Alibaba for comment and will update the article if we hear back.
This announcement comes on Singles Day, the Nov. 11 Chinese shopping holiday comparable to the U.S.’s Black Friday. Alibaba Group’s online Singles Day sales have reportedly generated more than $23 billion so far this year.
However, Lolli’s head of communications, Aubrey Strobel, told CoinDesk that Lolli perks will only be available to purchases made in the U.S. For Chinese-Americans, foreign students or travelers, this new option could add additional perks if they participate in online holiday sales, but residents in China will be unable to participate.
“Its products would be shipped from China to U.S. users,” Strobel said.
Lolli CEO Alex Adelman referred to this partnership as a milestone for the startup, which plans to expand internationally in 2020.
“This partnership is a great first step to connect the two largest economies, China and the US, through bitcoin and commerce,” he told CoinDesk. “The opportunity is available for US users only for now but we plan to expand internationally soon, letting everyone in the world easily earn and own bitcoin.”
Stepping back, several cash-back crypto startups are gearing up for the holiday shopping season. There are now several bitcoin retail apps, including competitors like Fold, Pei and SPEDN, targeting customers over the 2019 holiday shopping season, offering more bitcoin options than in previous years.
Changpeng Zhao, the CEO of major cryptocurrency exchange Binance, says a price of $16,000 per Bitcoin will happen “soon-ish,” in a tweet sent on Nov. 1. Zhao explains that price predictions are easy, but getting the timing right is hard.
“Lol, price predictions are easy. It’s just hard to be right about the timing. We will see $16k soon-ish. 1.4 billion people working on it as we speak.”
The message was an answer to the tweet of another user who pointed out that the prediction of an anonymous 4chan user predicting Bitcoin’s price would hit $16,000 by the end of October turned out to be wrong. The given prediction also stated that BTC will hit $29,000 in the first quarter of next year, $56,000 in Q3 2020 and $87,000 in Q4 2020.
At the same time, other predictions are actually less modest. John McAfee, for example, doubled down recently on his $1M Bitcoin by 2020 prediction, arguing that Bitcoin’s next price surge will be triggered by its scarcity.
As Cointelegraph reported, the Bitcoin network mined its 18 millionth BTC last month, which means there are only 3 million BTC not yet in circulation.
Making money from trading is why we are all here. But being online and trading for hours on either your PC or mobile app can also be time consuming. Traders spending hours online and trying not to miss any market opportunity that can help them earn money can sometimes be an overwhelming situation … Not to mention the amount of financial market knowledge you need to have to place the right trades at the right time that will eventually earn your money…
What if I were to tell you that trading online doesn’t necessarily have to be a confusing and overwhelming experience? That you can say goodbye to endless financial analyses and can enjoy trading using a safe and easy-to-use automatic statistical method? How about feeling like your own personal Broker as you will be in total control of your own trading experience?
Auto-trading system gives you the ability, to place trades automatically on any financial assets and in the trading volumes you choose, when you are not next to your PC or mobile phone. Not only that, the BATS offers you full risk management with the “Take Profit” and “Stop Loss” features. These features let you set your desired daily profit and loss, and once the BATS reaches that amount, it will pause itself for the rest of that day and resume the day after.
A known fact is that 95% of successful deals in the financial markets globally are made by Auto-trading systems/trading algorithms.
What is the success rate of the Auto-trading system?
Ah, that is the million-dollar question, isn’t it? Can this Auto-trading system make me money?
First, there is NO such thing as a “magic robot” that earns money consistently, as there are no free gifts in life. If there were, everybody would be using it already. Any company or salesman that promises you that their “robot” will earn big money consistently is basically lying to you.
Now that we have established that, we can move on. Success rate changes on a daily basis and based on market conditions.
How can I get a high success rate on my BATS?
The combination of the trading strategy that you choose and your attention to the volatility of the asset you are trading on. Volatility means the frequency of the movement in the price of the asset.
“The trend is your friend” . This is the rule of law for many traders. Following the trend is one way traders attempt to predict the future direction of an asset’s price. The Auto-trading system is using the trend as a signal indicator.
“Trend” strategy goes better with less volatile assets.
Less volatile assets go well with a “Trend” strategy because it exploits the MILD movements in the asset’s price. If the asset is less volatile, it means that statistically there is a higher chance that the price of the asset will continue in the same trend. The “Trend” strategy will automatically buy the asset if it reaches a new high point.
“Reversal” strategy goes better with more volatile assets.
More volatile assets go well with a “Reversal” strategy because it exploits the SHARP movements in the asset’s price. If the asset is more volatile, statistically there is a higher chance that the price of the asset will reverse its trend. The “Reversal” strategy will automatically buy when the asset reaches a new high point.
Let’s take an example of a two-week period to understand.
In the first week the Bitcoin is more volatile, so the “Reversal” strategy is more successful than the trend (above 80%), because the Bitcoin is volatile and the “Reversal” strategy is able to exploit it. The following week the Bitcoin is much less volatile, so the “Trend” strategy is much more profitable (above 85%!). But one needs to understand that it doesn’t say that this is a guarantee, and although it is an Auto-trading system (NOT A “MAGIC ROBOT”) you need to be alert to market conditions and asset volatility and react to it. if you follow these guidelines you can significantly increase your chance of earning money.
The beauty about the BATS is that it’s 100% automated treading system and you don’t need to have previews knowledge in trading.
If you’re reading this, you probably already know what’s Blockchain. The term, that became one of the most popular ones in recent years, beholds a whole new world of options and opportunities. Alongside all the good things, it holds a big misconception — Not all Blockchains are the same, and there are many different technologies based on the idea. The same applies to Crypto, where we can assume that all the various digital coins share the same security system, but by going deeper, we can see not only that the situation is totally different, but there’s also two major groups with a vast difference: Private and Public Blockchains. So, what’s all the fuss about?
Public Blockchains are pretty much straightforward: They are using one of the strongest encryptions today, but not in an exclusive way. A lot of Cryptocurrencies use Ethereum’s Blockchain system, which has proven to be a solid and secure way to deal with digital currencies. The pros are obvious: You can save quite a lot of time in using a “template” instead of investing more time and money in creating your own Blockchain technology, thus allowing you to focus on other elements.
But when it comes to private Blockchains, we get a different picture. Why? Because the effort that was given in, created extra advantages, for example:
Faster Transactions: The shared foundation between all cryptocurrencies that use the same Blockchain can be overloaded sometimes. The more coins used, and actions done, the more traffic it needs to host successfully. A private network will only need to monitor its exclusive content, thus ensuring faster rates.
Safer Process: Sure, Blockchain is safe, but if you manage to somehow hack through a private network, chances are all of the cryptocurrencies hosted on it are in grave danger. When there’s a private system, you need to analyze a whole different set if you want to hack it. A similar factor is that open-code systems are usually safer than closed one, due to the various alterations that can be done on it.
Full Customization: Let’s face it, no public system can fully interact with the individual concerns, will and demand. A private Blockchain allows you to fully integrate your ideas and goals with every aspect, thus fulfilling your full potential.
Not losing edge: When there are many players in the field, there needs to be some sort of consolation between all of them. When they’ll demand changes in the masses, you may be one of those who need them, or maybe be the one to lose from them instead. With a private Blockchain, you’re the boss — And you do whatever you need to keep YOUR product at the best state possible. Democracy is nice, but in this case — Being a single ruler is way better.
As we can see, the two groups might seem almost identical at first, but in the end — It’s apples and oranges, hardcore mode. Know your differences before you dive in, not only as an ICO entrepreneur, but as an investor or even someone who just checks the surface. Either public or private — Go for the right cause!
Bitcoin, the digital currency that has turned into the new “gold” among investors and traders around the world, is in for two big tests. The first test is simple, and involves Bitcoin’s price chart. The digital currency must overcome the barrier of the $5000-mark, which it already crossed last night before pulling back towards the $4800-mark. Milestone numbers are important for traders following price and volume charts, as they confirm/reject market momentum.
The second test is more complicated. It involves the actions of big governments that have been following with great unease the rising in popularity of Bitcoin and other cryptocurrencies that threaten to abolish their monopoly in creating money and collecting seigniorage income.
Back at the end of July, the SEC ruled that cryptocurrency “IPOs” or Initial Coin Offerings (ICOs) are investments, and therefore, should be subject to the same rules as regular stocks.
That ruling sent all major cryptocurrencies sharply lower, before rebounding towards new highs.
Bitcoin Investment Trust Shares (GBTC)
Apparently, traders and investors thought that this ruling could eventually be positive for cryptocurrencies, as it will limit the supply of new digital currencies coming to the market. Thus, the new high reached overnight for Bitcoin.
Now comes the National Internet Finance Association of China (NIFA) to warn investors that ICO projects are a threat to the stability of China’s financial sector.
China and Asia are among the biggest markets for Bitcoin and any warning from Asian governments, especially from the Chinese government, shouldn’t be taken slightly.
That could, perhaps, explain the big sell off in most digital currencies on Saturday, though it is still too early to determine whether the sell-off was technical or fundamental.
My recent book The Ten Golden Rules Of Leadership is publishedby AMACOM, and can be found here.