Arbitrage – What it is and how it works

Arbitrage refers to the process of instantly trading one or more pairs of currencies or odds for a nigh risk-free profit.

Usually, this involves two exchanges (this is then called a two-legged arbitrage); although more are, of course, possible.

crypto currency arbitrage

There are several steps when executing an arbitrage:

Find a suitable opportunity
Execute trades
Rebalance accounts

Step 1: Find a suitable opportunity

This step is relatively easy. Simply check the order books of as many exchanges as you like, compare bids vs asks, and check if you can find a negative spread.

A small discourse into what a spread is

I will assume you're familiar with bids, asks and what an order book is – if not, you should definitely look up those first. As for the negative spread, I'll elaborate a bit more on that. The spread is what is used to refer to the difference between bids and asks – lowest ask – highest bid = spread. This should be (and typically is) a positive value, since the best bid at an exchange must be lower than the lowest ask of an exchange – otherwise the matching engine of the exchange would settle these orders automatically.

In a perfect world, all markets and all market participants would have the same information, hence all top bids and all top asks of all exchanges would be the exact same, after fees were applied.

If you've seen the recent US elections, however, you're probably aware that the world isn't perfect, though. Hence, not all participants of a market know the same thing as the others, resulting in bids at exchanges which are higher than the asks at other exchanges – and this is what is called a negative spread.

Step 2: Execute trades

Let's assume you've found an amazing opportunity at exchange A and exchange B – a negative spread of 100$!

Exchange A: Ask 1BTC@450$
Exchange B: Bid 1BTC@550$

Luckily, you have proper funding at both to match these instantly – but how do you go about doing that? Easy! Just place an order on the opposite side at each exchange with the quote's prices!

Exchange A: Place Bid of 1BTC@450$
Exchange B: Place Ask of 1BTC@550$

Since your placed order match an order on the opposite side of the book, the trading engine matches them and the trade is settled, leaving you with a theoretical profit of a smooth 100$! Why theoretically, you ask? I'll get to that point further below.

Step 3: Rebalance Accounts

Unfortunately, you were only able to trade once today, but hey! Tomorrow's another day – but in order to be able to properly trade, you need to even out your balances. Right now, your accounts look like this:

Exchange A: 2 BTC | 50$
Exchange B: 0 BTC | 1050$

Hence, you go about and send 1 BTC from Exchange A to Exchange B, and 550$ dollars to Exchange A from Exchange B. No magic here – all accounts are re-balanced and you're ready to make a fortune again, tomorrow.

Exchange A: 1 BTC | 550$
Exchange B: 1 BTC | 550$ 

Arbitrage – Why everyone's not doing it

This all sounded wonderful? That's exactly what I thought when I first set out with my own arbitrage bot. However, there a some technical aspects that can really turn a sunny day into a poopy rain on your parade.

Caveats and risks

1. It needs to be as close to real-time as possible

This is possibly one of the hardest things to get right, and also the most underestimated aspect of arbitrage in crypto currency. The markets, compared to ForEx trading, are ridiculously slow – at busy exchanges, there may be a couple of dozen trades executed. Which gives the illusion, that polling data for bots via the most common API type, RESTful, is enough to trade risk-free. This is a misconception. Maybe for today this may appear to be enough – but what if markets picked up the pace? just 1 trade (or simply a placed order) within one second can change your opportunity from profit to loss.

2. Always trade limits, never market orders

Under the aspect of being the fastest, it might seem like a good idea to use market orders in order to be settled asap – you'd be terribly wrong. As discussed above, your data could be as old as 1 second (with above mentioned one order messing up your opportunity) – perhaps someone cleared the entire top level and all you're left with is a bid for twice the price you intended. Yikes.

3. REST API call rates make your life hard

Many exchanges employ a API call rate limit – that is, you're allowed to query data at the exchange X times every Y seconds. The differences are wide and nearly every exchange does its own little thing when it comes to limits. The problem with them is, they severely limit your actions. If you don't constantly keep an eye on how often you send a request, you might run into the limit when it seriously counts – for example when you have to cancel an order, because you couldn't place its counter part at another exchange. Unfortunately, websocket APIs are still rare and their brother on steroids, FIX sockets, even rarer – leaving you stuck with the turtle of programmable interfaces.

4. Integration with APIs can be a nightmare

There is no unified, standard definition for what an exchange API can do, or what data it returns. Which technically wouldn't be a problem, if they were documented properly. Incidentally, the exchanges with seemingly many opportunities also have the worst documentation (take btc-e.com's Documentation for example – heresy!). Of course, also the opposite is true – GDAX, Kraken, Bitfinex all have excellent documentation. But nonetheless you have to dig through them to understand how they work, what their rates are, how they handle data types, authentication and so forth. That is, if they even mention anything about that.

5. Fees will minimize, if not eliminate your profits

In my above step-by-step guide, I purposely omitted fees of all kind. But of course, they're essential to successfully arbitraging. The most commonly known fees, are trade commission fees – these range anywhere from 0.1% to 0.6% and need to be considered in Step 1: Find a suitable Opportunity. On top come fees for deposits and withdrawals during Step 3: Rebalancing Accounts. Depending on your preferred pair, these may range from feasible (transferring crypto currencies usually is cheap enough) to quite steep. For example, a deposit / withdrawal at Bitfinex entails the following fees:

Bank wire withdrawal & Deposit: 0.1% of amount deposited/withdrawn, 20$ minimum
And this does not include processing fees of your house bank – for me, for example, that's an additional 10€ for deposits, plus a 1% conversion fee. If you do the math you'll quickly realize that you don't even have to bother starting to trade at Bitfinex, unless you have a really big stack to trade with.

But this does not just apply to BTC-Fiat pairs. Alt-coins suffer a similar fate. In order to make arbitraging worthwhile, you will have to have enough funds at as many exchanges to make trades AND re-balancing worthwhile. And this quickly gets to a point where you realize your last month's savings aren't equipped to get the job done.

To give you a further example on how fees affect your profits, let's take a look back at the example from step 2, this time factoring in all fees. I'll walk you through it. For the argument's sake, we'll pretend to be a european trading BTCUSD at Bitfinex (Exchange A) and Kraken (Exchange B).

Bitfinex: Ask 1BTC@450$
Kraken: Bid 1BTC@550$ These prices are raw- they do not include trade commission fees, not transaction fees. Let's add those….

We'll define a taker fee of 0.25% at both exchange – the taker fee applies whenever you remove liquidity from the order book. Next, let's add deposit & withdrawal fees to the mix. At Bitfinex, we pay a minimum of 20$ for each fiat withdrawal & deposit, or 0.1% of the moved amount (if its more than 500$). At Kraken, we pay 0.09€ per fiat withdrawal, deposits are free. In addition, btc withdrawals cost 0.0005 BTC at kraken, while Bitfinex charges no fees for this. Deposits cost nothing at both exchanges. Furthermore, we can't transfer fiat directly from exchange to exchange – an additional 10€ fee per sent out transaction needs to be facotred in, as well as 1% conversion fee whenever we receive or send fiat from our bank account (2 times total).

Let's list these fees to try and maintain an overview

  1. Profit from arbitrage (bid – fee – ask + fee )
  2. Withdrawal Fee Bitfinex (20$)
  3. Deposit Fee Kraken (0.0$)
  4. Miner Fee for withdrawal at Kraken (0.0005BTC)
  5. Transaction Cost of our house bank (10€) (Bank to Bitfinex)
  6. Conversion Fee of our house Bank (1% of transfer amount x 2)

Let's put some numbers to these:

  1. (550 – 550*0.0025) – (450 + 450 * 0.0025) = 97.5$
  2. Move ~497$ to House bank = 20$
  3. 0.0$
  4. 0.0005BTC * 500$ = 0.25$ # Assuming this is the end of day price of the coin
  5. 10€ * 1.05 = 10.05$
  6. (497 * 0.02) = 9.94$

Which brings us to net profit of: 57.26$ This translates to 42.74% reduction of your originally seen profit.

This is neither a worst, nor a best case scenario – it's merely designed to show you how many hidden fees are involved in an arbitrage. Also, keep in mind that a 22% arbitrage opportunity is practically non-existant.

As a matter of fact, had the spread been anything less than 40$, the fixed fees of our house bank and Bitfinex alone would have made our supposed arbirtrage opportunity a loss.

6. Volatility of coins is your enemy

"No matter where the market goes, arbitrage makes a profit anyway!"

This is true – if your currencies don't tend to drop or rise by 50% within 24 hours. Ideally, both currencies you trade in should be relatively stable, while still showing a certain volatility – no volatility would mean the chart is a flat line, resulting in no opportunities for you.

The problem with pure crypto currency arbitrage (LTCBTC), however, is that Alt-coins can go completely fubar – as opposed to a fiat-based crypto arbitrage (i.e. BTCUSD). A personal anecdote:

When ZEC launched, I was instantly fascinated at the terrible market efficiency and arbitrage opportunities of almost 5% regularly. Hence, I bought in at 1ZEC@1.2BTC, thinking this is probably where market will stay at (at least it's not as bad as the guy who bought a ZEC for 3k BTC). I started arbitraging and immediately increased the amount of ZEC I was holding – completely oblivious to the fact that since I started trading, the price had fallen to 1ZEC@0.1BTC. My ZEC was worth 90% less, and I lost almost half a bitcoin worth of money.

Some volatility is great for arbitrage – too much volatility isn't.

7. Exchanges aren't as technically robust as they ought to be

Most of the time, you will find that smaller exchanges offer opportunities more often than big exchanges. This is in part due to the previously mentioned slow movement of information, but also their (often significantly lower) trading volume. Initially, this may appear like a steal – but there's usually a reason that particular exchange only has the low volume it currently does.

In a time where any one in the world can open up an exchange running on his raspberrypi and Ethereum, trading on the more alternative exchanges can be a serious risk to your investment.

From things like DDOS attacks and overloaded matching engines not matching your orders, to more serious issues like stuck withdrawals due to too low miner fees, or even theft – and the latter is a very omnipresent issue not exclusively affecting small exchanges, as the Bitfinex Heist has shown this summer; the list of potential technical failures is long and you should be aware of these at all times.

Conclusion

I'm aware this answer is overtly negative – this was intentional. Arbitrage, as well as crypto currency in general, is not the quick buck everyone on forums and dubious sites advertising trading bots make you believe. While its inner mechanisms and workings are still quite cryptic* to even the most professional traders (sorry for the pun), even the fabled cryptographic adheres to some basic principles, afterall. The 'quick way to wealth' usually will just end up quickly making you wealthless.

Start by opening up some of the well known exchanges … do not use ones such as localbitcoins .. far too risky. A good one is OKCoin.com as they have a good verification system.

(*) Another great myth is that the chinese dictate the BTCUSD market. There is no empirical proven correlation between chinese and american markets. The only defacto correlation that has been found was that of google searches for bitcoin to btc trading volume – but whether this was positive or negative was inclusive.

If you believe that my message is worth spreading, please use the share buttons if they show on this page.

Stephen Hodgkiss
Chief Engineer at MarketHive

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Why a New Small Business Blockchain is Actually a Big Deal

Efforts to apply blockchain in the supply chain took an interesting turn last week.

blockchain for small business

I'm speaking, of course, about a piece of news that at first seemed pretty ordinary: a group of European banks announced they would band together to develop a blockchain-based trade finance solution.

This one, though, is unusual.

Rather than tackle large-scale global transactions that cross oceans, the project focuses on intra-European trade, and, more importantly, between small- and medium-sized enterprises (SMEs).

Why is this interesting? It's not because SMEs make up the vast majority of the world's businesses (although that certainly does make for a compelling use case). Rather, it's because of what it says about the evolving nature of trade finance.

We have seen many blockchain projects take a run at the subject, and the application seems obvious. Transactions across borders generally involve significant documentation, a process that itself generates numerous errors and gross inefficiencies.

Reducing the burden associated with getting goods from one place to another has to be a good thing, right?

Let's take a look.

Starting smaller

Most of the projects to date have focused on large international corporations, which is understandable, given that over two-thirds of world trade originates with global enterprises.

Where both the pain and potential promise are most acutely felt, however, is not in conglomerates, but in SMEs. In part, it's because of their sheer number, but mainly, it's due to financial trends.

Approximately 80% of global trade is now conducted through open account transactions, not via traditional channels using letters of credit. This means that there is no bank guarantee of payment.

The buyer pays when it's time to pay – usually well after the product has been delivered.

For many large corporations, this shift reflects tighter restrictions many banks are facing on lending and guarantees, as well as a desire to improve working capital and reduce administration and financing costs.

For most SMEs, open account is their only option, since over half of SME trade finance applications are declined.

Win-win situation

In open account transactions, trust becomes a huge factor. This is an issue when initiating a new commercial relationship, especially for SMEs with patchy or non-existent credit histories.

Without going into the details of how the new platform will work, the ability to see, in real-time, the status of the transaction at each step should make trust more transparent. Accelerating the process from order to settlement will increase liquidity.

The incorporation of the management of the respective banking functions (payment, factoring, etc) aims to facilitate the procedure even further, and could increase margins for both the banks and their participating clients.

Seen from the exporting SME's point of view, the project could be a way to overcome obstacles created by the shifting sands of finance and politics. And from the banks’ point of view, not only will it help to retain and support SME customers, it is also an effective way for banks to re-intermediate themselves into the trade finance process.

Starting within the relatively "safe" confines of the European Union gives the project a chance to test the process of cross-border trade before venturing into more complicated territory.

What's next

If things go according to plan, we shouldn’t have to wait long to see how the project fares with target users. It is already a working proof-of-concept, developed last year by Belgian bank KBC.

Opening it up to six other European institutions is an obvious step toward scalability, presenting a way to test cross-border relationships within a manageable group before it's global.

The team will start to seek regulatory approval within the next few months, with a view to going "live" before the year's end.

Looking forward, the compelling advantage of lower transaction costs and stronger commercial relationships could help to partially offset the uncertainty and potential price of rising interest rates and shifting trade barriers.

It's not hard to see how projects like this could help to prepare businesses around the world for the changes ahead, and to adapt to not only current trends, but future ones as well.

If you believe that my message is worth spreading, please use the share buttons if they show on this page.

Stephen Hodgkiss
Chief Engineer at MarketHive

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A Global Economic Tidal Wave

A Global Economic Tidal Wave…

 

Have you ever wished you could have gotten in on the initial offerings of revolutionary ground breaking companies such as Google, Microsoft, Apple, or most recently Bitcoin in 2009?! …well the next wave is here!  A Financial Revolution Tidal wave that’s about to hit and here’s your chance!  Special pre-launch initial price offerings only available until the end of the month.  Click Here  You don’t want to miss this wave!

 

Request more info at MyCryptoWorld

Green Fire On The Blockchain

Green Fire On The Blockchain

Green Fire has decided to change the world as you know it. We are moving together onto the blockchain. We have chosen “Green Fire Gold” (GFG) as the blockchain application name. GFG will be the first to take landfill mining and reclamation on to the blockchain.

GFG is designed with next generation high load blockchain protocols, utilizing a blockchain design that improves functionality with each additional user, maximizing scalability and load performance.

GFG includes your own private universal wallet that allows for immediate trading and exchange between all currencies and investment markets.

The GFG blockchain is designed by the best in cryptocurrency development to create a coin and mainstream payment network usable by everyone in the world.

The GFG universal wallet/coin combo can be used to manage your entire life and assets. Inside are a Universal Dapp store (decentralized application store), micro-services, micro-payments, smart contracts, universal exchange, universal payment system, and custom template decentralized app building, just to name a few.

Understanding blockchain

The Blockchain has become the default backbone for most new financial and business development.

In essence, blockchain is a distributed database, or "timestamp server," as it was called by the mysterious Satoshi Nakamoto in the paper that proposed bitcoin.

The blockchain consists of blocks of data — each block is a timestamped batch of valid individual transactions and the hash of the previous block, creating a link between the two. Because each timestamp includes the previous timestamp in its hash, it forms a chain. Each new transaction must be authenticated across the distributed network of computers that form the blockchain before it can form the next block in the chain.

GFG is developing a fully decentralized, leaderless DAO*, a Decentralized Autonomous Organization, and a fully distributed financial platform, OWNED BY THE PEOPLE WHO USE IT.

GFG is using the MyCryptoWorld development platform to construct the GFG DAO. This platform develops on an advanced Ethereum blockchain.

For the determination phase of implementation an interdisciplinary team of cryptocurrency, marketing and software veterans/enthusiasts around the globe have already started determining the intelligence that operates GFG.

As soon the business determination is finished the whole system will be completely community/user driven and owned. From this point on the further evolution will be in the hands of all owners, using e-Governance/voting and other cutting edge tools to create consensus and run decisions.

The GFG DAO is a digital decentralized autonomous organization and a form of investor-directed venture capital fund.

The GFG DAO has an objective to provide a new decentralized business model for organizing both international commerce and social marketing. It will be on the Ethereum blockchain, and will have no conventional management structure or board of directors.

The GFG DAO is stateless, and not tied to any particular nation state. As a result, many questions of how government regulators would deal with a stateless fund are yet to be dealt with.

The GFG DAO is being crowdfunded via a token sale. A similar crowdfunding campaign in May 2016. It set the record for the largest crowdfunding campaign in history

OWNED BY THE PEOPLE WHO USE IT

The Landfill Pickers and the Women Informal Workers will own GFG. GFG will be governed by consensus.

Consensus in a distributed system is determined by entities checking each other's work and providing a stamp of approval as to transactions and activities allowed. This is accomplished through a distributed network, one might say, a “social neural network”.

Smart Contracts

GFG Blockchain also leverages a technology called "smart contracts," which are bits of executable code that only act when specific conditions within the blockchain are met. This allows a blockchain to automate activity like payment transfers when a task is completed, or even a partial payment when a milestone is achieved.

By providing a way to record transactions as automated trusted activity among digitally networked peers, audit and professional services firm Ernst & Young believes "blockchain technology has the potential to streamline and accelerate business processes, increase cybersecurity and reduce or eliminate the roles of trusted intermediaries (or centralized authorities) in industry after industry."

Blockchains have proven that they reduce cost and increase trust in financial transactions. It is becoming apparent that we can expect financial services firms to abandon existing transaction-processing technologies in favor of blockchain technologies.

We are developing the GFG DAO on the blockchain with a unique crypto token (coin) and its own brand of distributed manufacturing and ecommerce.

Green Fire is taking the Landfill Mining operations and the Children of the Landfill project and wrapping them in a blockchain application.

This will provide these “invisible workers” the very poorest of the poor the most unique democratic environment that is yet to prevail for them. They will be the next global cultural warriors to emerge from the shadows.

Mike Prettyman,
Chief Information Officer at Green Fire Engineered Reclamation
For more information come to the website

Children of the Landfill Project

Green Fire Engineered Reclamation

Join our active groups on Markethive

Children of the Landfill
Green Fire Engineered Reclamation
 

Dear Clinton supporters: Recall wont matter

Dear Clinton supporters: Recall wont matter

News that Green Party presidential candidate Jill Stein has requested a recount in Wisconsin, and will likely do the same in Michigan and Pennsylvania, has raised faint hopes among Hillary Clinton supporters that somehow Donald Trump will not become the next president of the United States.

Now that Clinton's campaign has said it will participate in the recount efforts, those supporters' hopes have been lifted even higher.

To put the matter bluntly: They should give up that hope.

There is essentially zero chance that the recounts in Wisconsin, Michigan, and Pennsylvania will change Trump's lead, which number in the thousands, not hundreds, in all three states. Trump is winning Wisconsin by a little more than 27,000 votes; his lead in Michigan sits at around 11,000; and his lead in Pennsylvania is insurmountable at over 68,000.

This is not Florida 2000. On Election Night in 2000, George W. Bush held a 1,784 vote lead over Al Gore in Florida's election for president, representing just 0.031 percent of the 5.8 million votes cast in the state. After a recount — which the US Supreme Court halted by a 5-4 vote — Bush ultimately won Florida by 537 votes, securing the presidency. Yet even if the Court had allowed the recount to proceed, the margin would not have swung by much.

This is not Washington 2004, where a recount reversed the result, handing Democrat Christine Gregoire a 129-vote win over Republican Dino Rossi after he initially had a 261-vote lead on election night.

This is not Minnesota 2008, where a recount gave Democrat Al Franken a 225-vote win over Republican Norm Coleman, reversing Coleman's initial lead of 215 votes.

All of these recounts had one significant fact in common: the margin of victory was in the hundreds, not thousands. And the shifts in vote totals after the recounts were very small.

In the past 15 years, a statewide recount has reversed the winner from the election-night tally only three times — in the Washington 2004 governor's race (a 390-vote shift), the 2008 Minnesota US Senate race (a 440-vote shift), and a 2006 election in Vermont for Auditor of Accounts, which initially had a 137-vote margin on election night that changed to a 102-vote win for the other candidate after the recount (a 239-vote change).

FairVote, a nonpartisan organization that advocates for electoral reform, found that from 2000-2012 there were only 22 statewide recounts across the country, and the average shift in those recounts was just 0.026%.

But, a Clinton supporter might say, what if the machines were hacked? What if the election was actually rigged? It is an ironic sentiment given that Trump was the one claiming widespread election rigging before the election and Clinton supporters blasted Trump for refusing to say whether he would honor the results.

Irony aside, there is simply no evidence of election hacking, as Clinton's top lawyer, Marc Elias, himself conceded. Of course, now that Stein has begun the process, it is perfectly reasonable for Clinton and her lawyers to stay involved. But her supporters should not take that fact as a sign that the election is still in question.

Prolonging the campaign by seeking a recount breeds unwarranted doubt about the legitimacy of our elections — without any real evidence to back it up. Our democratic system relies on everyone accepting the result. That legitimacy suffers when mere speculation calls the result into question with little evidence of rigging and Electoral College vote totals that decisively determine a winner.

Moreover, all of this talk of recounts and election rigging obscures the more important fact about our elections: We impose too many obstacles on voters for no good reason. We need to work harder to eliminate onerous voting laws and make voting easier, not focus on long-shot recounts that provide only false hope. For instance, this recount effort does nothing to address issues surrounding Wisconsin's controversial voter ID statute, which improperly prevented some people from voting.

While Stein's futile recount effort should give no solace to Clinton supporters, there is a silver lining to the current debate: It might finally prompt Congress and state legislatures to devote greater resources to election technology.

We desperately need better voting equipment and stronger post-Election Day audits. Going into this election, experts warned about the woefully out-of-date equipment that most states use. Indeed, old machines — especially if they do not allow for a paper trail — raise the possibility, however small, of election hacking. Old machines can lead to long lines, lost votes, and other Election Day problems.

Updated voting technology can increase turnout by making voting easier. As just one example, Doña Ana County, New Mexico uses Voting Convenience Centers instead of precinct-based polling places, meaning that anyone in the county can vote at any of the 40 centers instead of having to go to their assigned home precinct. This makes it easier to vote near work or school and eliminates the possibility of having to vote via a provisional ballot — which could potentially not count — if a voter shows up at the wrong place.

This system shows that improved technology can both enhance the integrity of our election system — a standard Republican talking point — and also make voting more accessible to more people, thereby increasing the electorate — something Democrats usually strive to achieve.

The recounts in Wisconsin, Michigan, and Pennsylvania will do nothing to assuage the fears of Clinton supporters who recoil at the thought of a Trump presidency. But at a minimum, they should force politicians on all sides to re-examine how we run our elections.

Like it or not, Donald Trump will become our next president. Hopefully, when he runs for re-election in four years, we will have a stronger election system that makes voting easier, more convenient and accessible, less susceptible to manipulation, and more easily verifiable. That's the closest to a "win" that Clinton and her supporters can expect.

Reprinted From CNN

Thomas Prendergast
 

 

UK halts Facebook’s WhatsApp data dip

Facebook has been told it must not use data gathered from UK members of its WhatsApp messaging app to target ads on its core social network.

facebook and whatsapp data privacy

The country's Information Commissioner said she did not believe the firm had obtained valid consent for the move and added that people must be given "ongoing control" over their data.

Elizabeth Denham said that Facebook had agreed to "pause" its rollout but had not met all her demands.

Facebook has yet to publicly comment.

The California-based company bought WhatsApp in 2014 and pledged to keep the chat app independent.

However, in August, WhatsApp made changes to its privacy policy, prompting an investigation by the UK watchdog.

"I had concerns that consumers weren't being properly protected, and it's fair to say the enquiries my team have made haven't changed that view," blogged Elizabeth Denham, the Information Commissioner.

"I don't think WhatsApp has got valid consent from users to share the information.

"We've set out the law clearly to Facebook, and we're pleased that they've agreed to pause using data from UK WhatsApp users for advertisements or product improvement purposes."

Enforcement

Ms Denham said she now wanted Facebook and WhatsApp to:

  • offer customers' more details about how their data will be used
  • let WhatsApp members restrict access to their information beyond the existing 30-day cooling-off period
  • let users completely opt-out of the agreement at any time

Ms Denham said that Facebook had not agreed to these terms.

"If Facebook starts using the data without valid consent, they may face enforcement action from my office," she warned.

WhatsApp has already been cautioned warned by European privacy watchdogs about sharing user data with its new parent company. 

If you believe that my message is worth spreading, please use the share buttons if they show on this page.

Stephen Hodgkiss
Chief Engineer at MarketHive

markethive.com


VISION CARE ORPHAN HOME – A “Children of the Landfill” client

VISION CARE ORPHAN HOME – A “Children of the Landfill” client

The Green Fire mission here is to enhance their already existing program.

 

Here is an overview of the conditions these orphanages address.

At the beginning of the 21st Century the children of the world are facing an undeclared assault upon their childhood as they suffer as a result of poverty, sexual exploitation, abuse as well as becoming the innocent victims of wars and the HIV/AIDS epidemics.Ten years ago the UN Convention on the Rights of the Child was adopted and the UN Secretary General has stated “we have no higher priority, no prouder achievement, than our work for the rights of children!”

A few facts indicate it may be a little early “for we the people” to be proud of our achievement:

    • 12 million children die before reaching their fifth year

    • 100 million homeless children living in the streets around the world.

    • 250,000 children die every week from diseases and malnutrition.

    • 2 million children are objects of sexual abuse – child pornography and demand for  child prostitutes has increased globally.

    • 20 million children are refugees or internally displaced in their homeland.

    • 10 million children are child slaves.

    • Millions of girls are ‘missing’ as a result of foeticide, infanticide and neglect.

    • Millions of children spend their whole life surviving on a landfill

Millions of children are being orphaned as their parents die of AIDS related illnesses.The figures are unimaginable – already 11 million children in sub-Saharan Africa alone have been orphaned by the AIDS epidemic and reliable sources estimate that by 2010 there will be more than 30 million children orphaned by AIDS decimating parents.

Credit: Womenaid International, http://www.womenaid.org/wcwi.htm

Their is a very clear reason and purpose in “Children of the Landfill” mission, the children.

Green Fire plans to bring education and commerce to these children.
Mike Prettyman
Chief Information Officer at Green Fire Engineered Reclamation
Green Fire Engineered Reclamation

I present you with an article I just received from the head of VISION CARE ORPHAN HOME, an orphanage in Uganda.

VISION CARE ORPHAN HOME

Introduction:

In our project area number of Orphans, Semi Orphans and Street Children are found. The problem of orphans / street children is acute due to the Allied Democratic Force Rabbles insurgence, Natural hazards, urbanization and industrialization. Due to the deaths of HIV/AIDS affected persons, Re-marriage of deserted / widowed / divorce women, absence of love and security in the families, Family disputes, Unwanted pregnancy of Trafficking / Sexually exploited girls; these orphan and street children are left without care and support. These children are involved in rag picking; pick pocketing and participating in anti social, criminal activities. Therefore, we envisage mainstreaming these children in the national building by providing care, support and protection in our Vision Care Orphan Children Home.

History Background

Vision Care Orphanage is located in Musasa Village-kyondo sub count Kasese District Rewenzori sub region of Uganda.

The history of this orphanage center is so sad after it had its roots in the early 90's During the time of the Allied Democratic Forces insurgence in our region (mountain Rwenzori Slopes),These rabbles killed many people in these hills of the Rwenzori mountains, so my grandmother Constance Kamalha who was a natural birth attendant was one day hosting pregnant mothers at her house when rabbles attacked and Killing 15 women who had just given birth.

Constance had nothing to do but to take care of the new born babies whose mothers had just been killed with the help of Red cross and the Catholic parish around the village, it was by God mercy that she was left alone, so her home ended up becoming an orphanage center. When she died in 2003, this orphanage collapsed.

In 2012 when I completed the university, with the help of my parents, I decided to begin a small orphanage center to fulfill the dream of my fallen grandmother.

Our Mission:

Mainstreaming the Orphan, Semi Orphan and Street children in the national building by providing care, support & protection through shelter, food, and education is our mission.

The Project – An Overview:

The project proposed in this scheme is meant for additional support to run the orphan children home.

This orphanage home is aiming to provide care, support and protection for 150 but so far 37orphan & street children. This home has three Care Takers; a doctor is conducting health check-up & providing medicines. All the inmates (child residents) are being provided with 3 time’s nutritious food, one set of books and 2 sets of uniforms and school fees.

Every child has opportunity for indoor and out-door recreation and play facilities along with training in crafts and hobbies.

What is the issue, problem, or challenge?

The problem of orphan/ street children is acute due to urbanization and industrialization. Recent floods in our area aggravated the situation further when most people lost lives.

 

https://www.youtube.com/watch?v=ub4uAqkeL3Y

Due to the Deaths of AIDS affected persons, Re-marriage of Widowed/ Divorced women, Absence of love and security, Unwanted pregnancy of Sexually exploited girls; these orphan & street children are left without care and support.

These children are involved in rag picking, pick pocketing & participating in anti social, criminal activities.

How will this project solve this problem?

We have identified orphans & street children & providing food and education facilities for all children with the help of you the sponsors.

We are arranging teaching facilities in nearby schools & providing home tuitions, health check-up, medicines, cosmetics, one set of books & 2sets of uniform every year.

Every child is being provided with nutritional diet, indoor & outdoor recreation and play facilities and training in crafts and hobbies.

Potential Long Term Impact

This project has potential & impact full in main streaming of orphans & street children. Their basic needs are met & they will get new life through gaining knowledge, vocational skills & life skills. They will get love & affection as if their parents provides. Their confidence level will increase & become good asset to the community. They are developed physically & psychologically & made as good & productive citizens. They will inspire by philanthropy & show humanity towards the community.

Some testimonials from the orphans

“I regained my birth. I obtained nutritious food, quality education & resourceful life.”

“I got love & affection through my colleagues & organizers in the orphan home.”

Orphan Beneficiary Project Objectives:

  • To provide orphan / semi orphan / street children, a childhood that they never experienced and help them to become useful members of the society.

  • To encourage orphan / semi orphan / street children to kindle their potential by providing creative opportunities

  • To make available a secure place where orphan / semi orphan / street children can play and enjoy their childhood.

  • To provide basic education to orphan / semi orphan / street children

  • To provide such welfare services like free lodging, boarding, health and recreation

  • To provide basic literacy and facilities for those who wish to study further

  • To select and prepare for a vocation in order to live on their own legs

  • To accomplishing physical, intellectual and aesthetic development of the child Project Activities:

  • Identification of orphan / semi orphan / street children

  • Pre-view of the incoming orphan / semi orphan / street children problem/difficulties

  • Emotional acceptance of the child

  • Teaching facilities for basic education

  • Teaching facilities for vocational courses and crafts

  • Lodging and boarding facilities for all inmates

  • Recreational facilities

  • Primary health

I appreciate your attention

Mike Prettyman, For more information come to the website
Chief Information Officer at Green Fire Engineered Reclamation

Children of the Landfill Project

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Chief Engineer at MarketHive

markethive.com