Mahi Sall, Advisor, Fintech-Bank Partnerships, Payments and Financial Inclusivity
January 25th, 2023
BBC | David Molloy | Sep 27, 2021
He's notable for two reasons: first, he is making money, with his lifetime career performance up about 20% - beating many professional traders and funds.
Second, Mr Goxx is a hamster.
The business-minded rodent has a trading office attached to his regular cage. Every day, when he enters the office, a livestream starts on Twitch, and his Twitter account lets followers know: Mr Goxx has started a trading session.
By running in his "intention wheel", he selects which cryptocurrency he'd like to trade, as the wheel spins through the different options. His office floor has two tunnels nearby: one for buy, one for sell.
Every time he runs through a tunnel, the electronics wired to his office complete a trade according to Mr Goxx's desires.
The minds behind the furry financier are two men in their 30s, from Germany.
"It seems like most people from our generation see no other chance than throwing a lot of their savings on the crypto market, without having a clue what's going on there. We were joking about whether my hamster would be able to make smarter investment decisions than we humans do."
Mr Goxx's name is itself a nod to the potential disasters of the crypto market. A company called Mt Gox was once the biggest crypto exchange on the planet - until it was compromised and hundreds of thousands of bitcoin stolen, making the company file for bankruptcy.
The first month was rough. Mr Goxx started on 12 June with €326 (£278), placing an order for Stellar (XLM). One month and 95 orders later, Goxx Capital was down 7.3%. But as of 27 September, the intrepid trader's career performance is up 19.41%. That beats not only the return on major stock markets such as the FTSE 100 or the Dow Jones but also the performance of investing supremo Warren Buffet's company, Berkshire Hathaway, according to calculations by crypto news site Protos.
Almost everything on Mr Goxx's trading floor is homemade, except for a few code snippets (libraries) the friends have made use of.
The office is fully automated, using a wide range of technology including software scripting, microcontrollers, single-board computers, computer-aided design, 3D printing, laser-cutting, and more.
"We have many features in mind that would make the whole thing much more fun to watch and would mean even more space for Mr Goxx to play around in," they said.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
Support NCFA by Following us on Twitter!Follow @NCFACanada |
January 25th, 2023
June 1st, 2021
September 9th, 2020
July 17th, 2020
August 22nd, 2019
September 26th, 2018
July 9th, 2018
March 19th, 2018
January 3rd, 2018
September 25th, 2017
July 31st, 2017
June 20th, 2017
May 10th, 2017
May 9th, 2017
December 14th, 2016
September 13th, 2016
NCFA Canada
Craig Asano
CEO and Executive Director
casano@ncfacanada.org
ncfacanada.org
Leave a Reply