Compcoin Mixes Forex Trading with Cryptocurrency Token

FinTech, ICO News, Investing | October 20, 2017 By:
 Josh Dettman is the co-founder of Compcoin and its President of Institutional Trading at FinTech Investment Group, which uses artificial intelligence to execute Forex trades.
Investors tap into the ART system by means of Compcoin, a proprietary token that is exchange-traded, then let ART’s bot trade 24/7 using machine learning, predictive analytics and logic to spot trends and make buys and sales.
Dettman has more than 20 years of experience in financial trading and technology. He is a former Director of Global Assets at Wecap, a private fund management company. He talked with Block Tribune about his Forex/token system.
BLOCK TRIBUNE:  I was wondering if you saw the UBS report that just came out. It basically said that although cryptocurrency could be a store of value, it has no real world applications and probably won’t catch on as far as ever becoming a mainstream currency. Any reaction to that?

JOSH DETTMAN:  My reaction to that is, we often are afraid of the things we don’t understand or are not already invested in. I think that we’ve seen Chase and some of the other banks kind of pooh-pooh, and then only to come back a few days or months later and reveal that they have purchases in the crypto market. So, you know, everyone’s gonna have their opinion on the cryptocurrency market. Ours is we’re just in the very beginning stages of this, and that we feel that not only are bitCoin and ethereum stores of value, but our coin as well.

BLOCK TRIBUNE:   So tell me how it works with your coin, and take me through how it works with ART.

JOSH DETTMAN:   Well, basically, our coin is acquired by trading on the open market. We’re in the system in Novaexchange right now, and adding new exchanges as we speak. Basically, once the person owns our coin, they can use the coin to access ART, which is our artificial trading robot that has algorithmic trading for Forex trading. So each coin represents a $500 management value. So if you had a $5000 account in a separately held brokerage account, whether it was Forex.com, TD Ameritrade, what have you, you would need ten of our coins to manage that account.

BLOCK TRIBUNE:   Okay. And why would someone use your coins rather than just go through a Forex account directly?

JOSH DETTMAN:  Well because ART, our artificial intelligence computer, basically manages the account for you. We trade 24 hours a day, seven days a week, and we have proven results. We have seven years of back testing, and we will be revealing our results for the third quarter here in the next few days. They are positive results, and as such, as we continue to add investors and get accreditations and some other things, we’re looking for a nice increase of the price of our coin, because with the limited supply that we have, paired that with our good trading results, we feel really got a nice market together.

BLOCK TRIBUNE:              How limited is the supply?

JOSH DETTMAN:               We’ll have ten million coins total.

BLOCK TRIBUNE:              Okay. And how many have already been accounted for?

JOSH DETTMAN:               There’s 4.6 million in circulation.

BLOCK TRIBUNE:              How did you do in your ICO?

JOSH DETTMAN:               We did well. We didn’t hit our target goal of 45 million, but we did well enough to hit all of our main goals as far as funding and development. We picked a kind of a rough time in the market. I mean, even though everything is doing very well since then, we were about 48 hours away from the little flash crash in Ethereum, and a pretty steep back in BitCoin, so I think some of the more speculative investors maybe backed away or reduced some of the size in their purchases. But our core investors that are also pretty heavily traded in Forex stayed with us, and we’ve built on that since then, and we’re very happy with where we are.

BLOCK TRIBUNE:              Are you doing any education to people as far as trying to get them to understand the Forex market, even though they don’t have to because your bot does it for them, but are you trying to get more people involved in the market?

JOSH DETTMAN:               Absolutely. Both on the Forex and on the crypto side. We also, our main market isn’t the crypto space per se. We’re going after just the regular everyday investor, people that have traded in Forex before, and when people call in, first off, we have to go through how Com Coin works. Explain that. Some of them even want us to go into how BitCoin or Ethereum work. So there’s quite a bit of education on the crypto side, and then we do go into the Forex stuff, and we go into the various pairings that we have. The US dollar versus the Euro is our bread and butter as far as our main algorithm that we use, but we do have other ones. So we explain to them that the positions could be long and short on both sides of the market, and kind of go through and explain the nuances of how you could really use government policy and some other things could effect the coins even though it’s minute differences, because it is a pretty highly leveraged market. There can be some profits to be made, and obviously there can be losses as well.

BLOCK TRIBUNE:              Right. We’re heading into a somewhat volatile period. There’s going to be a hard fork in bitcoin, and there’s also updates going on to ethereum. How do you see this affecting the overall cryptocurrency market?

JOSH DETTMAN:               Well, I mean, you know, one of the things that we do as far as trading is we kind of look at past events and judge what’s going forward. And I think, if you look at the BitCoin Cache, even though that may be judged as a soft fork, I believe that even at $6000 a coin, 5600 or whatever it is right now, again, I think we’re in the infancy of a lot of this stuff. I think that there’s a lot of money in stock market and bond markets, that’ll be looking for a new boat and a new place to experience some real growth. And even if BitCoin is quadrupled over the past three and a half months, I think that there’s a very very real possibility that there may be a little confusion with the fork, but my feeling is that it could easily be 10, $12,000 here in the next 12 months.

BLOCK TRIBUNE:  How does your bot react to world events? We’re having problems in North Korea, and there’s rumblings about Iran. What does your bot take into consideration when it’s looking at the Forex market?

JOSH DETTMAN: We have over 70 years of trade data, and it develops split second decisions based upon series of events. Now of course, when a world event happens, like the elections in Catalonia, the Brexit a few years ago, we have big gaps one direction or the other, and we have pretty strict protocols as far as stops and limits that we put on both sides of the market, and if there is a major world event, terrorism, Korea, all the things that you mentioned, there is no real protocol or instant reaction. Basically, if we’re out on one side of the market and it goes against us, then we instantly close the position. If it goes for us, then we ride it out. But that is one of the pitfalls of the currency markets is that they are event driven, and those events, as much as we’d like to try to analyze and predict when they’ll happen, can happen at anytime, and they can have an adverse and they can also have a very good effect on a portfolio.