Summer update

We would like to take this opportunity to thank all friends and family for supporting satoshi trading and to let you know our plans for the upcoming weeks as we navigate any potential disruptions on the Bitcoin (BTC) network. As always, our focus will continue to be on the safety of your funds. In the event of a User Activated Hard Fork (UAHF) on 1 August or thereafter, it is important to clarify that Bitstamp would not be in a position to support Bitcoin Cash (BCC), the coin associated with the Bitcoin Cash proposal. In our view, BCC is an alt-coin and the decision to list BCC tokens remains at the exchanges sole discretion at all times.

If the exchanges chooses to list BCC, we would decide at our own discretion on what course of action to take with balances deriving from the hard fork. BCC would also be subject to the same due diligence processes as for any other alt-coin, which requires time and careful planning. For these reason, the exchanges may not in a position to support BCC, nor will exchanges be liable for any BCC sent to them.

As always, the safety of your funds remains our number one priority. To this end, as a security precaution, we will be disabling your deposits and withdrawals on 31 July 2017 at 23:00 hrs UTC to ensure that all BTC funds stored at exchange remain secure. Trading will remain unaffected throughout. Deposits and withdrawals will be resumed only when we deem it safe and prudent to do so.

We will leave it to you to decide whether to withdraw your BTC funds from from the exchanges prior to this cut-off date if you would like to access BCC or any other hard fork, and the exchanges shall not be held liable for any consequences of that decision, from neither a financial, operational nor regulatory standpoint.

To be clear, the exchanges has no favoured outcome to the resolution of the bitcoin scaling issue. Our sole focus is on you and your best interests. As such, we are continuing to monitor developments closely. Please check blog for the latest news, updates and developments.

Best,

Satoshi Trading

Explanation of bitcoin and how it divides

Today we want to spend some time explaining to beginners what the common units of bitcoin measurement are.

Just like a $1 bill can be broken down into 100 pennies, bitcoin (the currency) can also be broken down and divided into smaller units. Bitcoin’s ability to do this is crucial for user adoption, and for encouraging practical usage as an everyday currency alternative. This also makes it easier when buying bitcoin; depending on its value at the time, it may be more affordable to buy a fraction of the digital currency here and there instead of an entire bitcoin all at once. In fact, a lot of people think they have to buy a whole bitcoin to get started, but you can buy almost any amount you want!

You probably already know that the first and most common unit of measurement is a single bitcoin or 1 BTC (BTC is the commonly used acronym for bitcoin, like USD is for US Dollars). And as we mentioned earlier, a single bitcoin is divisible into smaller units. All the way down to eight decimal places, or 0.00000001 BTC to be exact.

The chart below outlines the most commonly referred-to measurements, ranging in value from the greatest (BTC) to the least (satoshi). There are more, but they are referenced much less often. The smallest unit of measurement, satoshi, is named in recognition of the creator of the Bitcoin protocol, Satoshi Nakamoto. Finney is the second smallest unit and was named after Hal Finney, one of Bitcoin’s first pioneers who interacted with Satoshi Nakamoto. The names for the top four units of measurement are more self-explanatory. At the time of writing this post, 1 BTC is valued at roughly $2000 + or -  USD July 7th 2017  on markets.blockchain.info. 

This means it will take 100,000,000 (100 Million) satoshi, or 10,000,000 (10 Million) finney to equal 1 BTC or $2000.00 + or -  USD. This gives you an idea of how precise bitcoin can be, which can be very useful when transacting with others.

Knowledge of bitcoin units can also be useful in your Blockchain Wallet. If you go to Settings -> Preferences and scroll down to Bitcoin Unit, you can select from several common value options for your wallet balance to display as.

It isn’t essential that you know all the details behind bitcoin units, but learning the basics can help improve your understanding of transactions, their value, and how they work. This information is mostly used in wallet software design, like in the Blockchain Wallet, where you can switch from either seeing your balance in bitcoin or your locally denominated currency. When using these units in software, it’s vital that each measurement be exact so that users can send and receive the correct amounts to each other. Just remember that the number of your bitcoins doesn’t change, but the value does based on the markets.

If you ever wanted to convert any portion of bitcoin to currency values such as dollars, you can use a bitcoin calculator. Bitcoin.com has a helpful calculator tool that breaks down bitcoin’s units and their value at any given time.

We make sure clients know what to avoid when investing, and how best to manage a portfolio of crypto as part of their overall investment strategy and encourage clients to go deep into how, who , where and when. The actual maths of the blockchain and the economics of each crypto coin are very important as some have fixed supply and inflation and others do not and have deflation.

Satoshi Trading - For those that would like help with buying their bit coin, trading their bit coin, storing their bitcoin

Is a private company set up by an early bitcoin investor that has been trading bitcoin since 2009.

We buy bit coin and crypto for third parties and charge 2% of the gross sum  purchased  and 20% of the profit when sold. This is on top of any exchange costs.

This means we charge 2% on the gross funds invested and 20% on the profits.
the minimum investment is $25,000 and the investor needs to sign a declaration that they are a HNWI. ( High net worth investor)

We also recommend a 36 month investment horizon as a minimum period to trade.

For signed up clients we recommend the easiest way to make payment.

All trades can be seen on the block chain. We show the client how to look at a typical transaction.

The first thing we ask all investors to do is invest in a number of different types of wallets and to watch the video on wallets.

Until the investor is wallet ready we do not even start trading for that investor.

We work bottom up make sure the investor is aware of the important of remembering his private keys and storing this information safely and if they own a lot of bitcoin or any other crypto currency then they should spread the coins amongst many different wallets in many different places. This portfolio risk approach mitigates and avoids the all your eggs in one basket approach.

1. Trading balance to generate profits
2. Cold Storage of profits

Once the client is signed up and has operational wallets that he or she  can use and these have been tested we send  satoshi for free to their wallets to make sure they can use them only then will we start trading for our clients.

Each client signs a risk disclaimer agreement as trading in Crpto Currencies is a very high risk and can have very high gains and can suffer from  a flash crash where on one day the entire value of the coins could drop dramatically and if you get caught on the wrong side of a trade on that day you could suffer huge losses. This is why we advise smaller trades  buying into a falling price and selling into a rising price. But we also have a number of clients who are long on bitcoin and for these it is very important they following the blockchain  developments in terms of changes to the blockchain, forks and so on.

If you would like to own bitcoin or any other crypto we would be happy to help we charge 2% going in ie on $25,000  2% would be $500.00 and 20% of any profit so if you invest $25,000 and this is then sold for $50,000 we would take 20% of $25,000 profit which is $5,000.00.

KYC

1. ID drivers licence or passport
2. Utility bill
3. A skype video call with the client (recorded where they read the disclaimer)


We will not take on a client unless they have an operational wallet that is fully tested and we issue new clients with a number of free satoshi's to test their wallets only when they have managed to send us back some satoshi's that we have sent them will we start to trade for that client.

WARNING YOU SHOUD NOT PUT ALL YOUR SAVINGS OR WEALTH INTO CRYTO CURRENCIES THIS IS STILL AN VERY EARLY STAGE EXPERIMENT AND CAN BE COMPARED WITH THE INTERNET IN 1990. EARLY INVESTORS HAVE SEEN RETURNS IN EXCESS OF 30,000 % AND MORE AND THIS IS NO INDICATION OF FUTURE RETURNS BECAUSE THESE INVESTORS STARTED FROM A VERY LOW BASE.