At 10:00 on the evening of September 24, XT.COM CEO Weber WOO and Haken, the world's leading cyber security consulting company, launched an online AMA with the theme of "Future Development of XT.COM". Weber talked about XT.COM's history, team, business development and attitude towards the development of the blockchain industry. When talking about the future market trend of XT.COM, Weber said, "XT will continue to explore markets in Europe, Southeast Asia, South Asia and South America in the future, and further strengthen XT's international market."submitted by okoAlderman to XTExchange [link] [comments]
The community members actively presented their questions following the event. Congratulations to the four users u/Nos Tha u/brucelee199 u/DanielleStelle u/brunoiat, getting rewards for putting up questions.
For those missing the broadcast, Mr.XT has compiled the content for everyone~ Let’s get a review~
Host: Dyma Budorin | Hacken CEO
Guest: Weber WOO | XT.COM CEO
Dyma:Please introduce yourself a little.Where are you from?When were you involved in crypto?
Weber:Hello Hackeners. I am Weber Woo from the XT.COM exchange. I am glad to be invited here to share something about the XT exchange, XT team, and also myself. I am from Shanghai, China. When I was studying MBA at school in 2012, I read an article in Business Week about Bitcoin being very popular in Iran. Because of sanctions, many Iranians bought bitcoin to transfer their assets to overseas. That was the first time I heard about crypto.
Dyma:What experience do you have in crypto? Trading? Mining? Investing? Holding? Only positive experience or negative, too?
Weber:I will talk about my experience in Blockchain, and also my team.
In 2013, after my friends involved in Bitcoin, I also started to pay more attention to it. We began to mine Bitcoin.
From 2013-2016, we are more focused on mining and trading. We have 100,000 mining machines in our mining factory, located in Yunnan, Sichuan province in China. Of course, most of them are owned by our customers.
At the end of 2016, we started our mining pool business. Our mining portfolio included BTC, ETH, ETC, ZEC, SC, DCR. We had 5%of ETH computing power at the peak.
At the beginning of 2017, we invested a crypto exchange in China. But it was stopped in September 2017, because of China's new policies.
In the middle of 2018, we started the XT exchange in Seychelles, headquartered in HongKong.
Dyma:Have you ever been hacked?
Weber:I've never been hacked directly But lost my Bitcoin from the MT. Gox hack in 2014. That taught me a lot to keep crypto-assets safe.
The MT. Gox incident also reminded our team and me to take security measures very seriously when running the XT exchange.
1.We know that XT has more than 1 millionn global users. You might have a big team. How many people? What idea does unite them?
Currently, XT has more than 80 employees comprised of the C-level team, technical developers, marketers, and business developers. More than 40% of our team have Postgraduate educational background. Our team comes from previous companies like Alibaba, Tencent, China Unicoin, Bosch, LG, and more.
Everyone on the team has a high level of understanding of what opportunities blockchain can and does provide for the world.
2.XT was introduced in 2018 — just in the beginning of crypto winter. Was it hard to start in such conditions? How did you motivate yourself and your colleagues?
Since XT started in a bear market, it was easier for us than other exchanges to stay agile and motivated.
We continued to grow our team and focus on building an exchange that protects its users and listens to what they want.
Understanding that just like any market, crypto goes through market cycles too. We stayed motivated and focused on being ready for the next bull market.
We already spend seven years in the blockchain industry. The bear market is an excellent opportunity to start a new business to save costs and talent recruits.
3.Is it really hard to be a Chinese crypto exchange nowadays?
As I said before, the XT exchange was registered in Seychelles, headquartered in HongKong. We are not officially a Chinese crypto exchange.
Half of our users are from other global markets than China. We are the most popular in Korea and Japan.
Of course, Crypto is still very popular in China, especially recently, with the rise of DeFi. Investors are smarter than 2017, but everyone is excited about all the new blockchain space developments.
4.Are your developers working on some new features? What should we expect?
Currently, XT is working on bringing new features to the exchange.
XT is the first social infused exchange that launched a Group Trading function in the BiYong App. BiYong is a social application focused on the Chinese market.
BiYong has more than 5 million users in total. We are the only partner for BiYong in Group trading. Users can trade within the social chatting app together as a collective.
I want to share some benefits for Group Trading.
This is how Group Trading typically works.
XT.com is launching a DEX.
We will launch DEX in quarter four this year. The product is still developing, so I cannot share more about it. We are glad to share it when it's ready.
1.Do you think the crypto winter is over?
With everything going on in the world currently, it is difficult to predict the future. I believe we are now in a bull market cycle, but things can change very quickly. We see different lengths of bear markets in the space as it grows. We must all pay attention to the trends and proceed accordingly.
2.Do you believe in the DeFi’s potential to make mass adoption closer? Why do you think it is so popular today?
The rise of DeFi has been incredible this year. Projects like LINK, UNI, YFI caught the attention of millions. The technology for real use cases has been implemented, and there is a real opportunity to get in on the ground floor for eager investors.
With the recent airdrop from Uniswap with their new token, UNI has only driven interest within the DeFi space. I believe it will take time, but DeFi is here to stay regardless if the market decides to cycle again.
We can see DeFi Locked Value in the past three years in the following pic. It's popular and here to stay.
3.What could you advise your users? What are the main risks in trading and investing today?
I advise anyone trading or investing in crypto to be smart.
The crypto market is a very volatile place. Using good risk management is critical to ensure the security of their funds.
Do not put all your eggs and one basket and only invest what you are willing to lose would be my recommendation, especially when it comes to altcoins.
I think that Bitcoin and Etheruem are the best low-risk long term investment options.
So I suggest you can divide your investment into 3 sections. For example, 40% in BTC and ETH, 30% for Top 50 altcoins, and 30% for HIGH risk projects if you are willing to take the risk.
We can see the risk from this picture.
4. What are your and your company long-term plans? Where will you be in 5 years?
Regarding the market, XT will continue to grow as we expand to more world markets like Europe, SE Asian, South Asian, and South America.
For compliance, we already had our MSB license approved in the US and will apply for more in different markets in the future.
On the business side, we will still focus on mining and the exchange. Of course, our CEX and DEX will be our primary focus in the years to come.
Hacken is a premier cybersecurity consulting company with an essential focus on cryptocurrency exchanges and blockchain security.
XT.COM is the world's first social infused exchange. Users can chat in communities while knowing the market trend to invest. In XT communities, users explore valuable coins together.
XT.COM is building towards garnering loyalty and bring new potential for the development of the entire blockchain industry. To achieve better development, it is necessary to break the tradition with a fresh model.
XT Exchange not only empowers the blockchain industry but leads the industry with its innovation.
Wall of text incoming please excuse all spelling and punctuation errors ,this might be the most important thing i write
I'm a MALE 31,Egyptian,1.60cm,kinda ugly,depressed with social anxiety and a deformed penis.
I was born with Hypospadias which is a congenital disorder that affects the urethra.
this condition is often treated with surgery in infancy . but with very limited income and a special needs sister and no health insurance my parents kept postponing the procedure till they saved enough money.
so I ended up doing the surgery at 14 which was a little late and lead to serious complications like NSFW peyronies disease which makes the penis horribly curved and developed fistulas which are openings in the skin of the penis and ended up with 3 pee holes
so I only pee sitting and even masturbation is messy hell.
with my social anxiety and crippling shyness I completely ignored my condition and went on living without ever having a wife or a gf.
I first heard of bitcoin in 2012 and got pretty excited about it but never actually got around to mining until I forgot completely about it and later on i read the news about the mt gox hack but wasnt involved enough to know what this really meant for bitcoin but I thought that was it for bitcoin and that it was dead.
untill around April this year thats when this amazing rally started i think and i really got into crypto but on a very small scale since i got zero disposable income and with my father dying and im left supporting my mother and 2 sisters one of whom has down syndrome.
Desperate enough I did This as u see from the people just made fun of me , since then I cashed out and just got the first of 3 repair surgeries needed to restore penis functionality
so bitcoin actually made me physically better, and this is amazing
I see people fight about big blocks and small blocks and forks and sidechains and core and cash and I see millions of dollars being used just for publicity stunts and it bothers me a lot how much are totally missing the point of it
Now I'm at a much better place thanks to bitcoin and whole of the crypto world but i just can't keep going at it alone and I have to reach out to the community maybe some some whale hodler feels sorry for me and change my life forever like all the stories we're seeing
I dont want a lambo or a moon ride , I just want to be able to pee standing like a real man and maybe have sex one day who knows
if you're feeling generous every satoshi or an upvote helps and I promise I'll think of you every time im having sex
lets see which coin got the most aweosome community these are all fresh made paper wallets so everyone can see how his coin is doing "except Monero" you'll just have to take my word
I hear you in the back shouting pics or it didn't happen so here you go,but these are extremely gross and NSFW
3 days after surgery
will keep updating and can provide further proof if needed
Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin ... IPL 2020: In Pics, ... Earlier in the day, the value of one Bitcoin had crossed $14,000, a new record high for the cryptocurrency. Bitcoins are created through a complex computer process known as mining and then monitored by a network of computers across the world. A steady stream of about 3,600 new bitcoins are created a day - with about 16.5 million now in circulation from a maximum limit of ... – Approximate Bitcoin-to-US$ rate (from oanda.com) – . Mt. Gox was once the world’s biggest Bitcoin exchange.. Now it’s a heap of digital rubble, after collapsing in early 2014.. The ... The headline on the notice says the suspension is temporary, but to hear Mt. Gox tell it, it may be some time before OKPay resumes business with the Bitcoin community. "OKPay is offering a solution, but in the meantime we want to make sure that Mt. Gox customers and the Bitcoin community are well-informed about this development," reads a statement posted to Mt. Gox's website on Tuesday. Some may associate the currency Bitcoin with “hack” for all the news that’s developed in that area. Mt. Gox, of course, claimed to be hacked over time and lost a pretty pennyworth of Bitcoin. A CNET database was hacked by a Russian group called W0rm. Hackers successfully rerouted Internet Service Provider traffic to steal bitcoins. And the list goes on. And now there’s Celebgate. Then ...
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