Objectopia Sales Center

The game Objectopia, is the first economic online game based on 100% use of crypto currency.

The idea of the game

In some ways this game is similar to the iconic Monopoly, but at the same time there are lots of differences.
The goal of the players is to capture and buy out each other’s objects on the map.

Here is how it’s happening. The first player (the cat Pompon) buys an object on the map for 0.05 LTC (all purchases are made in crypto-currency) — let’s say it’s a Dry Cleaners in Toronto (the object has its own real-life prototype: https://mapmess.com/marker/3427).

After payment of 0.05 LTC, the object immediately becomes the possession of Pompon. What this means and what the benefits are is described a little below.

According to the terms of the game, the Dry Cleaning facility is assigned to the owner for a certain period of time, for example, for one day (24 hours). During this time no one can repurchase the object. Its status changes to SOLD and the name of Pompon appears
on the title of the object description on the map.

After 24 hours, the object can be purchased by another player. After this period, the status of the object changes to FOR SALE, but the price has already increased: 0.1 LTC. Now, whoever captures this object first and pays 0.1 LTC for it, becomes the next owner of the object. Let’s say, the cat Trundel becomes the new owner since he has paid )0.1 LTC. Out of this money, the amount of 0.05 LTC is returned to the account of Pompon, while another part of paid amount which is 0.05 LTVare credited to the account of the gaming company. The object now is owned by Trundel.

However, exactly one day later the Dry Cleaners can be bought by the next player but so far for 0.15 LTC and so on. It means that with every purchase the previous owner of the object receives the full amount back and does not lose anything, whereas the new player pays a larger amount and owns the game object until the next player purchases it.

Benefits of owning Objectopia’s viertual objects.

1. While owning the virtual object, a player is entitled to free service or a substantial discount when being serviced at a real-life object (all virtual objects will have their real-life counterparts at the specified address). In particular, in our example the object Laundry, according to our agreement, offers the current owner free clothes cleaning once a week worth $30 CAD* (some conditions applied).

2. All current and former owners of the game objects become members of the MapMess Players Club and receive bonuses and discounts from all partners and sponsors of MapMess. They also participate in MapMess corporate events for free or at a substantial discount. In addition to that, their account on the MapMess website receives Premium status during the time of ownership of any game object.

3. The current owner of the object can place his banner or marketing/advertising text inside the object description or sell this advertising space at his discretion to anyone who wants it — this will be his separate business and the money will be directly transferred to his account
without MapMess serving as intermediary. MapMess, however, will provide for all those willing a convenient platform for communication with advertisers. Advertising in the object will be marked and promoted as an Object Sponsor.

4. The current owner of the object will be able to participate in the game process with other objects owners. This scenario is under development.

At what point the game ends?

The capture and buyout of a particular object ends when this object can no longer be bought. This moment comes when the value of an object reaches a certain level, for example 25 000 LTC (the price may be different for each object). When the price of an object exceeds a certain threshold, the object, most likely, will be owned by commercial companies or prominent entrepreneurs. For them, it will be both an element of prestige and investment medium. We are still keeping the lid on regarding this mechanism but it is closely connected with the crypto-currency market. We believe (and our expert consultants confirmed this) that a business will only benefit from buying such an expensive virtual object both in terms of PR and other aspects. During the game, more and more game objects will appear on the map, until their number reaches a certain, predetermined value, which is kept in secret so far.

The objects of the game can be:
 dry cleaners, coffee shops, restaurants, movie theatres, casinos, etc.;
 historical and cultural objects. In this case, the current owners will be entitled, as a bonus, to a free ticket to the prototype object, the cost of which will be paid by the sponsor. For example, the Eiffel Tower or the Trakai Castle;
 airports, train stations, parking lots, etc.;
 police stations, prisons, cemeteries, morgues (a joke !!!) and so on…

The game will finally end when no more game objects appear on the map, since their number will be initially limited to maintain a healthy excitement and not to devalue the game capital. The ultimate owners of virtual objects will own them forever and enjoy all the benefits of the current
owners of the objects, making up an elite club of MapMess friends and enjoying a whole lot of privileges.

Good luck!

First results #BitcoinAidMexico donation campaign

After the earthquake that affected Puebla, Morelos and Mexico City on the past 19th of September, we launched a second phase of our fundraising during #BitcoinAidMexico. Bitso agreed on donating an extra 50% to all funds received on the first 7 days of the campaign (Monday September 25).

We are grateful and pleased with all the support and solidarity received from the community. We are excited and proud to show you the preliminary results of this fundraising campaign.

Up till Friday September 22, we received:

  • 179 Bitcoin transactions totalling 10.28661568 BTC
  • 94 Ethereum transactions totalling 26.23848868 ETH
  • 51 Ripple transfers for a total of 7,829.16 XRP

Bitso matching 50% of the received funds can be traced with the following links:

On Friday September 22we made a market sale of all the funds in every wallet of BTC, ETH y XRP, resulting in $1,223,688 MXN(approximately $69,000 USD).

As we explained on the campaign’s initial blog posts, these trades were exempt from any fees. Therefore, Bitso did not obtain any profits from them. They will also not be tax deductible. Bitso will not obtain any tax benefits from these donations.

From the funds collected, 50% of the amount $611,844 MXN was diligently transferred to Cruz Roja Mexicana IAP. The official payment slip can be verified on Banco de México’s (the Mexican Central Bank) website http://www.banxico.org.mx/cep/ by following this procedure:

  1. Go to the oficial Banxico website: http://www.banxico.org.mx/cep/
  2. Select date: 23 de Septiembre 2017
  3. On “criterio de búsqueda” choose “Clave de Rastreo” (default option)
  4. On “Clave de Rastreo” write: BITSO5006108508115383
  5. For “Banco emisor del pago” choose: “STP”
  6. For “Banco receptor del pago” choose: “BBVA Bancomer”
  7. For “Cuenta Beneficiaria” write: 012180004040404062
  8. For “Monto de Pago” write: 611844
  9. Enter the “Captcha”
  10. Click “Descargar CEP” and download PDF:

As we expressed in social media, the remaining 50% of the raised funds will be donated to an institution that has the largest impact on rebuilding and next stages caused by this natural disaster. We are currently doing due diligence on foundations working on reconstruction efforts, which is where we — being on the ground — notice that most help will be needed. We are also open to hearing your suggestions on this regard.

We will make an open announcement on the final decision and destination of these funds, as well as the details of the wire transfer and how the funds are used to improve the lives of those affected. We will provide all details of the transfers in the same way we have published the previous donations to Cruz Roja Mexicana IAP.

All wallets for further donations in Bitcoin, Ethereum and Ripple continue active to receive donations until the 18th of October 2017.

Thank you so much to everyone who has been a part of this efforts through donations, spreading the word and all other kind of support.

We would also like to thank and show our admiration to people who have volunteered on the streets of the affected grounds, as well as the people who have one way or another supported the affected people.

Thank you to everyone who has supported Mexico!

¡Gracias a todo el mundo que ha apoyado a México!


First results #BitcoinAidMexico donation campaign was originally published in Bitso (EN) on Medium, where people are continuing the conversation by highlighting and responding to this story.

First results #BitcoinAidMexico donation campaign

After the earthquake that affected Puebla, Morelos and Mexico City on the past 19th of September, we launched a second phase of our fundraising during #BitcoinAidMexico. Bitso agreed on donating an extra 50% to all funds received on the first 7 days of the campaign (Monday September 25).

We are grateful and pleased with all the support and solidarity received from the community. We are excited and proud to show you the preliminary results of this fundraising campaign.

Up till Friday September 22, we received:

  • 179 Bitcoin transactions totalling 10.28661568 BTC
  • 94 Ethereum transactions totalling 26.23848868 ETH
  • 51 Ripple transfers for a total of 7,829.16 XRP

Bitso matching 50% of the received funds can be traced with the following links:

On Friday September 22we made a market sale of all the funds in every wallet of BTC, ETH y XRP, resulting in $1,223,688 MXN(approximately $69,000 USD).

As we explained on the campaign’s initial blog posts, these trades were exempt from any fees. Therefore, Bitso did not obtain any profits from them. They will also not be tax deductible. Bitso will not obtain any tax benefits from these donations.

From the funds collected, 50% of the amount $611,844 MXN was diligently transferred to Cruz Roja Mexicana IAP. The official payment slip can be verified on Banco de México’s (the Mexican Central Bank) website http://www.banxico.org.mx/cep/ by following this procedure:

  1. Go to the oficial Banxico website: http://www.banxico.org.mx/cep/
  2. Select date: 23 de Septiembre 2017
  3. On “criterio de búsqueda” choose “Clave de Rastreo” (default option)
  4. On “Clave de Rastreo” write: BITSO5006108508115383
  5. For “Banco emisor del pago” choose: “STP”
  6. For “Banco receptor del pago” choose: “BBVA Bancomer”
  7. For “Cuenta Beneficiaria” write: 012180004040404062
  8. For “Monto de Pago” write: 611844
  9. Enter the “Captcha”
  10. Click “Descargar CEP” and download PDF:

As we expressed in social media, the remaining 50% of the raised funds will be donated to an institution that has the largest impact on rebuilding and next stages caused by this natural disaster. We are currently doing due diligence on foundations working on reconstruction efforts, which is where we — being on the ground — notice that most help will be needed. We are also open to hearing your suggestions on this regard.

We will make an open announcement on the final decision and destination of these funds, as well as the details of the wire transfer and how the funds are used to improve the lives of those affected. We will provide all details of the transfers in the same way we have published the previous donations to Cruz Roja Mexicana IAP.

All wallets for further donations in Bitcoin, Ethereum and Ripple continue active to receive donations until the 18th of October 2017.

Thank you so much to everyone who has been a part of this efforts through donations, spreading the word and all other kind of support.

We would also like to thank and show our admiration to people who have volunteered on the streets of the affected grounds, as well as the people who have one way or another supported the affected people.

Thank you to everyone who has supported Mexico!

¡Gracias a todo el mundo que ha apoyado a México!


First results #BitcoinAidMexico donation campaign was originally published in Bitso (EN) on Medium, where people are continuing the conversation by highlighting and responding to this story.

You should run a full Bitcoin node only if…

This was supposed to be just a reply to a redditor comment. I thought it would be more useful to make an actual post instead. Since this sub is constantly growing a think one more post about this could not harm.

Since English is not my mother tongue I hope I managed to express all the arguments correctly and understandably.

Bitcoin is a P2P network. The essence of such network is that every participant, every node, has no special value among the others, they are all peers. In a Bitcoin network nodes don't even have IDs, they are indistinguishable from one another.

To form a network you need nods, how many? It's nowhere defined ho many nodes you need. The answer varies depending on:

  • how resilient to attacks (Sybil attacks, DDoS attacks...) you want the network to be
  • how censorship resistant (a country government could ban the traffic) you want the network to be
  • how trustless (a few entities could take control of the majority of the nodes forming a cartel you don't even know about and the other nodes will follow the lead)
  • how redundant in case of faults (hurricanes, local blackouts...)
  • how efficient (for example you can't connect all the SPV wallet to a few bunch of nodes. Or again assuming you have very few full nodes, how clogged the network would be when you want to bootstrap a new full node and the existent ones send the blockchain to it)
  • how spread (how many copies of the blockchain there are) around the world you want the network to be

and so on.

A full node stops the propagation of invalid blocks and invalid transactions. If miner nodes alone where busy rejecting invalid TXs (transactions) and invalid blocks it would be easier to DDoS the network and consume their bandwidth and computational power used to validate all those invalid blocks and TXs.

If you spread the verification across multiple full nodes you decentralize the effort of keeping the network clean from invalid blocks and invalid TXs. If a full node receives an invalid block from another node it rejects so the invalid block is not propagated across the entire network. So full nodes act as filters.

Having multiple nodes means to have multiple routes and this makes it harder to monitor the traffic for a malicious actor because it makes monitoring the network more expensive.

Another interesting point about having many full nodes is allowing for a more balance in the decision power. What I mean is, among the various constituent the miners, the merchants, the exchanges, the wallets, big stakeholders you should have people too.

One could argue that the market is an enough powerful mean to have a vote on how Bitcoin should evolve, meaning the market can express the feeling about a decision on the Bitcoin protocol by making the price drop or making the price rise a lot when they announce a new feature in the Bitcoin protocol.

But, besides being a drastic measure (would you really like to express a vote by reducing Bitcoin value?), that's a faulty assumption because the market doesn't give a damn about the Bitcoin technology. Most of the big investors and traders, that actually move the market, care more about making money than allowing for the common people to have a revolutionary new kind of money.

They don't care about common people. Common people don't move the market price. You could never coordinate so many people at once in order to sell or buy enough to move the price. If you would be able to coordinate many people and sell/buy 1000 BTC that would be like a sneeze.

How could common people have a voice in deciding how Bitcoin should evolve? If you don't have literally millions you can't move the price. What people could do is to run full nodes that enforce consensus rules. If the vast majority of people decide that the rules miners (or the developers want) are not fair, people should have the ability to vote on that.

As you can see miners do what's most convinient for them, like switching what chain to mine for when it's more profitable for them, even regardless their ideology.

How cheaper would be to run a full node instead of trying to move the price buying or selling?

Ever asked why exchanges runs their own full nodes? Why don't they trust miners ones? Don't miners behave correctly in the fear of losing money if they cheat? How can you be sure miners run the right set of consensus rules? You can't even know (exactly) what software they are running. And no, the software version you read is not reliable, at all, it's like the user agent for web browsers.

If they wouldn't put their pool name in the blocks they mine we wouldn't even know who mined them.

Most of the miners run customized versions of the regular software. This doesn't mean they are cheating, they do this for technical purposes, it's perfectly legit. They can run whatever they want.

So if you can't be sure they run a "certified" node software how can you check which consensus rules they are running? How would you know if the consensus rules at some point changed because of a closed port meeting they had, let's say, in NY or in HK?

The Bitcoin network is described as trustless because you don't have to assume that the other nodes are correct nodes, on the contrary, every node assumes that the other nodes it is connected to, could be malicious nodes and therefore every node validate in autonomy every blocks and every TXs. Everyone checks one everyone else no one trusts anyone.

Miners behave correctly only because the can't form a cartel. And that's only because if they would do that, they would be cut off the network by the other nodes who enforce consensus rules. Which consensus rules? The ones that the vast majority of the nodes run. Not the ones that only miners run.

I'll leave out the privacy argument. They always says you should run your own full node (maybe over TOR) because it increases privacy and even if this is important and absolutely true, I don't consider this the most important aspect of running a full node because it doesn't undermine the network, but only your own privacy.

PS. "Funny" fact about privacy I just learned about: there are SPV wallets that don't even run their own full node... Hiralious.

submitted by /u/daniel-_-
[link] [comments]

HOW IS GRAFT REAL-TIME AUTHORIZATION (“INSTANT CONFIRMATION”) WITHIN A FEW SECONDS POSSIBLE WITH 2…

HOW IS GRAFT REAL-TIME AUTHORIZATION (“INSTANT CONFIRMATION”) WITHIN A FEW SECONDS POSSIBLE WITH 2 MINUTE BLOCK INTERVAL?

Unlike most crypto payment systems, and similar to traditional credit/debit card processing, Graft payment is divided into two phases: authorization and settlement. Like in credit/debit card world, Graft authorization happens in real time (hundreds milliseconds to a few seconds, depending on various conditions), while settlement is performed later on, usually within 2 minutes (compare to several hours and even days in traditional payment networks).

Although there are cryptocurrencies with block (settlement) interval less than 2 minutes, there is no specific reason to reduce it, especially with Graft built in “always on” real time authorization system. First, very short interval complicates the block generation and PoW process, as a lot of supernodes must communicate each other and agree on the new block, so with very short interval the network latency will start affecting the process. Second, reducing the interval still does not resolve the real-time authorization (“instant confirmation”) problem. Even with 30 seconds interval, it is still too long for real time payments (credit card authorizations are in a range of hundreds milliseconds to a few seconds), not to mention the fact that 1 confirmation (1 block) is still not enough to mitigate the risk of fork for significant amounts. So special additional technology is still required to resolve the real-time authorization problem. Graft resolves this problem by implementing a scheme called authorization sample, which is a group of supernodes that is selected by special Proof of Work/Proof of Stake algorithm from a larger pool of candidates.

The supernodes in authorization sample must match several criteria in order to prove their loyalty to the network:

Must be an active miner — solve at least one block within last 1440 blocksMust maintain a collateral (“stake”) deposit account with 1000 graftMust be “always on” (99% of the time within last 48 hours)Must have a public IP

The authorization sample supernodes validate the transaction and guarantee that the buyer cannot spend the same money more than once until the transaction is settled (added into the block which is written into the blockchain). The settlement is performed by the mining part of the supernode within 2 minutes.

Vlora Asset Management has Reserved 30 Million Tokens

Budapest, September 14. 2017 — Vlora Asset Management has participated in an OTC deal for institutional investors and reserved 30M tokens offered in the upcoming token sale for Providence Crypto Casino & Resort — the first and only cryptocurrency casino & resort with a physical location.

ABOUT VLORA

Vlora is an independent asset management company with a palette of strategies ranging from active and passive investments solutions with a focus on property management and real-estate investments. Vlora’s fundamental investment strategy relies on bottom-up analysis to identify high-quality companies at attractive prices.

ABOUT PROVIDENCE

Providence Crypto Casino & Resort has emerged as one of those companies with an excellent business plan in the emerging digital economy of cryptocurrencies and blockchains while backed by a highly skilled team and pioneer investors supporting the Providence Project. The whole resort will include a big casino, hotel, restaurants, and retail outlets. Project operations are being built upon innovative blockchain technologies with exchanges, hedging mechanisms for volatility protections and an online casino for a full enclosure of the industry.

Vlora is very excited to participate and support Providence in the early phases of operations and Providence is happy to have Vlora on board!

Vlora Asset Management has Reserved 30 Million Tokens

Budapest, September 14. 2017 — Vlora Asset Management has participated in an OTC deal for institutional investors and reserved 30M tokens offered in the upcoming token sale for Providence Crypto Casino & Resort — the first and only cryptocurrency casino & resort with a physical location.

ABOUT VLORA

Vlora is an independent asset management company with a palette of strategies ranging from active and passive investments solutions with a focus on property management and real-estate investments. Vlora’s fundamental investment strategy relies on bottom-up analysis to identify high-quality companies at attractive prices.

ABOUT PROVIDENCE

Providence Crypto Casino & Resort has emerged as one of those companies with an excellent business plan in the emerging digital economy of cryptocurrencies and blockchains while backed by a highly skilled team and pioneer investors supporting the Providence Project. The whole resort will include a big casino, hotel, restaurants, and retail outlets. Project operations are being built upon innovative blockchain technologies with exchanges, hedging mechanisms for volatility protections and an online casino for a full enclosure of the industry.

Vlora is very excited to participate and support Providence in the early phases of operations and Providence is happy to have Vlora on board!

Vlora Asset Management has Reserved 30 Million Tokens

Budapest, September 14. 2017 — Vlora Asset Management has participated in an OTC deal for institutional investors and reserved 30M tokens offered in the upcoming token sale for Providence Crypto Casino & Resort — the first and only cryptocurrency casino & resort with a physical location.

ABOUT VLORA

Vlora is an independent asset management company with a palette of strategies ranging from active and passive investments solutions with a focus on property management and real-estate investments. Vlora’s fundamental investment strategy relies on bottom-up analysis to identify high-quality companies at attractive prices.

ABOUT PROVIDENCE

Providence Crypto Casino & Resort has emerged as one of those companies with an excellent business plan in the emerging digital economy of cryptocurrencies and blockchains while backed by a highly skilled team and pioneer investors supporting the Providence Project. The whole resort will include a big casino, hotel, restaurants, and retail outlets. Project operations are being built upon innovative blockchain technologies with exchanges, hedging mechanisms for volatility protections and an online casino for a full enclosure of the industry.

Vlora is very excited to participate and support Providence in the early phases of operations and Providence is happy to have Vlora on board!

The China Effect on Blockchains and Cryptocurrencies Future

In the past 3 weeks, news that the Chinese government was cracking down on ICOs and forcing cryptocurrency exchanges to halt trading has sent the markets tanking.

Trading volumes on the cryptocurrency exchanges are down significantly, and the pull-back in activity is not just from the Chinese Yuan and exchanges, but across all currencies and global exchanges. (see the following 2 charts, from http://data.bitcoinity.org/)

We can analyse what we know and don’t know, and give some context to these developments.

First, let us be reminded that Chinese regulators and authorities decisions and policy statements are aimed at the Chinese market. They are not directives for the rest of the world to follow. China’s government scope is at the national level.

Second, the timing of this crackdown may be related to the upcoming 19th National Congress of the Communist Party of China (CPP), scheduled to start on Oct 18th 2017 in Beijing. That is one of the most important meetings in China’s political calendar, and it has been widely reported that the latest announcements are politically motivated muscle-flexing by the CPP.

We know the following:

  • Capital flight via cryptocurrency was real, and the Chinese authorities didn’t like that. It wasn’t clear to them where the billions of dollars in crypto gains were going, past the exchanges.
  • The KYC/AML practices of Chinese exchanges were not all up to par with the rest of the world. Previously, many exchanges didn’t require stringent KYC, until AML was strictly mandated by the People’s Bank of China in January 2017.
  • The ICOmania had reached another dimension in China with over zealous promoters and real scams that took place. Although the pace of ICOs has been strong outside of China, there were hundreds of ICOs inside the country that we didn’t even know about.

So it was expected that some kind of order was overdue. The political coincidence made the moons align more squarely for that perfect storm to take hold.

Despite this turmoil, the global fundamentals behind blockchain, cryptocurrency and ICOs are intact. As much as one would like to think that what China does doesn’t matter, the reality is that when China sneezes at crypto, the rest of the world catches the cold.

For one, Chinese partcipants represent 30–35% of many ICOs, so their absence has been felt, even if the ban doesn’t officially affect non-China ICOs. Some ICOs who had Chinese investors on their radar (via KYC pre-registrations or direct contacts), have experienced a downturn in money raised from that specific region.

Second, the share of Chinese exchanges on total cryptocurrency volumes used to be close to 45–50% before the ban, and now estimated to have dwindled to perhaps about 15%. Some Chinese users can still get away with trading by using VPNs and accessing external exchanges.

With all that backdrop, let us be reminded that China has also previously banned Facebook and Google, but those companies continued to thrive, while China promoted their own versions of these services (Weibo, RenRen, Baidu Tieba). Furthermore, China has its own Twitter (Weibo), YouTube (Youku Tudou), Yelp (Dianping), Tinder (Momo), Apple (Xiaomi), Uber (Didi Kuaidi), PayPal (Alipay), eBay (Taobao), and other home-grown social media giants like WeChat and Tencent QQ.

You get the idea? So, why not expect China to have their own cryptocurrency too, not based on Ethereum or Bitcoin, but based on their own currency, the Chinese Yuan?

That brings me to the next big rumor coming out of China, which is the possibility of issuing their own crypto Yuan. This shouldn’t come as a surprise given that reports that China’s Central Bank has been looking at the digital currency have been around for more than 1.5 years.

What remains unknown is if this current hiccup will affect the Chinese Bitcoin miners supremacy, which stands at about 80–85% of total market share. So far, miners have not been affected, but I am sure they are worried. Several questions arise:

  • Will the Chinese government require Bitcoin miners to go through the central switch and have their transactions flagged? That would certainly affect the competitive speeds required for transaction mining.
  • Will Chinese miners start to diversify their operations outside of China? One of China’s largest miners, Bitmain has already started activities and shown interest outside of China.
  • Will other countries or organizations jump on this opportunity and start to increase their Bitcoin mining capabilities? Some candidates include Russia, Iceland and Canada for countries, and why not the large multinational banks, Amazon or Google for that matter?

Going forward, my predictions on China are:

  1. China will update their regulation on crypto-exchanges and ICOs after the Party’s convention. Given the current mess, it was easier to wipe the slate clean, and start from that point forward with new rules.
  2. We will see a Crypto Yuan emerge, but with some peculiar parameters around its creation. It won’t be just like another free floating cryptocurrency, and it may not have all the properties of a cryptocurrency, but maybe only selective ones. Even with some restrictions, that move will be a boon for the crypto-markets, as it will serve to validate the future of cryptocurrencies.
  3. The Chinese share of Bitcoin mining will decrease. Some of the existing miners might be tempted to mine for the crypto Yuan, unless the government decides to monopolize (or not require) that function. Simultaneously, other parts of the world will pick-up some of the Bitcoin mining activity.

In summary, China wants control, and China will get control. That’s their default modus operandi. Crypto-Tech is no different than the Internet and Web businesses.

What happens in China doesn’t always stay in China anymore. We have not seen the last of that whale’s boat capsizing moves.

[Originally published on Startup Management]

The China Effect on Blockchains and Cryptocurrencies Future

In the past 3 weeks, news that the Chinese government was cracking down on ICOs and forcing cryptocurrency exchanges to halt trading has sent the markets tanking.

Trading volumes on the cryptocurrency exchanges are down significantly, and the pull-back in activity is not just from the Chinese Yuan and exchanges, but across all currencies and global exchanges. (see the following 2 charts, from http://data.bitcoinity.org/)

We can analyse what we know and don’t know, and give some context to these developments.

First, let us be reminded that Chinese regulators and authorities decisions and policy statements are aimed at the Chinese market. They are not directives for the rest of the world to follow. China’s government scope is at the national level.

Second, the timing of this crackdown may be related to the upcoming 19th National Congress of the Communist Party of China (CPP), scheduled to start on Oct 18th 2017 in Beijing. That is one of the most important meetings in China’s political calendar, and it has been widely reported that the latest announcements are politically motivated muscle-flexing by the CPP.

We know the following:

  • Capital flight via cryptocurrency was real, and the Chinese authorities didn’t like that. It wasn’t clear to them where the billions of dollars in crypto gains were going, past the exchanges.
  • The KYC/AML practices of Chinese exchanges were not all up to par with the rest of the world. Previously, many exchanges didn’t require stringent KYC, until AML was strictly mandated by the People’s Bank of China in January 2017.
  • The ICOmania had reached another dimension in China with over zealous promoters and real scams that took place. Although the pace of ICOs has been strong outside of China, there were hundreds of ICOs inside the country that we didn’t even know about.

So it was expected that some kind of order was overdue. The political coincidence made the moons align more squarely for that perfect storm to take hold.

Despite this turmoil, the global fundamentals behind blockchain, cryptocurrency and ICOs are intact. As much as one would like to think that what China does doesn’t matter, the reality is that when China sneezes at crypto, the rest of the world catches the cold.

For one, Chinese partcipants represent 30–35% of many ICOs, so their absence has been felt, even if the ban doesn’t officially affect non-China ICOs. Some ICOs who had Chinese investors on their radar (via KYC pre-registrations or direct contacts), have experienced a downturn in money raised from that specific region.

Second, the share of Chinese exchanges on total cryptocurrency volumes used to be close to 45–50% before the ban, and now estimated to have dwindled to perhaps about 15%. Some Chinese users can still get away with trading by using VPNs and accessing external exchanges.

With all that backdrop, let us be reminded that China has also previously banned Facebook and Google, but those companies continued to thrive, while China promoted their own versions of these services (Weibo, RenRen, Baidu Tieba). Furthermore, China has its own Twitter (Weibo), YouTube (Youku Tudou), Yelp (Dianping), Tinder (Momo), Apple (Xiaomi), Uber (Didi Kuaidi), PayPal (Alipay), eBay (Taobao), and other home-grown social media giants like WeChat and Tencent QQ.

You get the idea? So, why not expect China to have their own cryptocurrency too, not based on Ethereum or Bitcoin, but based on their own currency, the Chinese Yuan?

That brings me to the next big rumor coming out of China, which is the possibility of issuing their own crypto Yuan. This shouldn’t come as a surprise given that reports that China’s Central Bank has been looking at the digital currency have been around for more than 1.5 years.

What remains unknown is if this current hiccup will affect the Chinese Bitcoin miners supremacy, which stands at about 80–85% of total market share. So far, miners have not been affected, but I am sure they are worried. Several questions arise:

  • Will the Chinese government require Bitcoin miners to go through the central switch and have their transactions flagged? That would certainly affect the competitive speeds required for transaction mining.
  • Will Chinese miners start to diversify their operations outside of China? One of China’s largest miners, Bitmain has already started activities and shown interest outside of China.
  • Will other countries or organizations jump on this opportunity and start to increase their Bitcoin mining capabilities? Some candidates include Russia, Iceland and Canada for countries, and why not the large multinational banks, Amazon or Google for that matter?

Going forward, my predictions on China are:

  1. China will update their regulation on crypto-exchanges and ICOs after the Party’s convention. Given the current mess, it was easier to wipe the slate clean, and start from that point forward with new rules.
  2. We will see a Crypto Yuan emerge, but with some peculiar parameters around its creation. It won’t be just like another free floating cryptocurrency, and it may not have all the properties of a cryptocurrency, but maybe only selective ones. Even with some restrictions, that move will be a boon for the crypto-markets, as it will serve to validate the future of cryptocurrencies.
  3. The Chinese share of Bitcoin mining will decrease. Some of the existing miners might be tempted to mine for the crypto Yuan, unless the government decides to monopolize (or not require) that function. Simultaneously, other parts of the world will pick-up some of the Bitcoin mining activity.

In summary, China wants control, and China will get control. That’s their default modus operandi. Crypto-Tech is no different than the Internet and Web businesses.

What happens in China doesn’t always stay in China anymore. We have not seen the last of that whale’s boat capsizing moves.

[Originally published on Startup Management]

PoSToken: World’s First PoS Smart Contract Token

PoSToken pertama menerapkan mekanisme Proof-of-Stake, yang berarti bahwa pemegang PoSToken dapat memperoleh beberapa token tambahan hanya dengan memegang PoSToken untuk jangka waktu minimal 3 hari, lebih besar dari atau sama dengan Usia Minimum Coin.

PoSToken adalah implementasi pertama PoSTokenStandard, Standar Etereum Token tidak resmi baru, yang didefinisikan dalam kode PoSToken dan dibuat khusus untuk menerbitkan Bukti-Bukti.

PosToken adalah bukti kontrak pintar Proof-of-Stake pertama di dunia pada platform Ethereal. Ini adalah Token ERC20 yang mengikuti Standar Token ERC20 dan menerapkan semua metode standar.

Lebih jauh lagi, gagasan PoSToken tidak hanya menerbitkan Token Etereum sederhana dengan Proof-of Stake tetapi juga untuk menentukan Token Standar baru untuk token Bukti-of-Stake.

Sebuah antarmuka termasuk beberapa fungsi standar yang didefinisikan dalam kode PoSToken, kita menyebutnya PoSTokenStandard, yang seperti standar ERC20. PoSTokenStandard adalah Token baru Standar yang dibuat khusus untuk menerbitkan Bukti Bukti-bukti dan dikelola oleh Dev PoSToken Tim.

Meskipun itu adalah Token Standard yang tidak resmi, kami akan melakukan yang terbaik untuk membangun keseluruhan dan ekosistem sehat berdasarkan PoSTokenStandard.

Serangkaian layanan dan aplikasi yang digunakan PoSTokenStandard akan dibuat dalam waktu dekat. Masa depan token Bukti-of-Stake ini dimulai Di sini dan kami percaya bahwa era baru Crypto Tokens akan datang.

Detail Spesifikasi PostToken
Nama: PoSToken
Simbol: POS
Desimal: 18
Max Total Supply: 10M
Pasokan Awal: 1M
Min Coin Umur: 3 Hari
Usia Max Coin: 90 Hari
Bunga Tahun Pertama: 100%
Bunga Tahun ke 2: 50%
Bunga Tahun ke-15: 10%

Tentang Cara Mining PosToken
Holding — Memegang beberapa PoSToken untuk jangka waktu minimal 3 hari, lebih besar dari atau sama dengan Min Coin Age.
Pertambangan — PoSToken menyediakan dua metode untuk memicu penambangan PoS:
1. Mengirimkan transaksi ke alamat Anda sendiri dengan jumlah POS.
2.Menggunakan MyEtherWallet.com atau Mist atau perangkat lunak lain yang dapat berinteraksi dengan kontrak untuk menjalankan fungsi mint ().
Alat Kueri — Tidak yakin dengan usia koin atau minat saat ini? Melaksanakan fungsi ini:
1.Kembalikan bunga tahunan saat ini.
2.Kembalikan usia koin akun Anda. Kembalinya 0 berarti token Anda tidak memenuhi usia min koin sekarang.

Peta Jalan PoSToken
PoS Token Creation Service Q3 / 2017
Dompet Multi-PoS-Token Q3 / 2017
PoS Token Block Explorer Q4 / 2017
PoS Token Decentralized Exchange Q1 / 2018
PoS Mining Pool Q2 / 2018
Ini adalah ringkasan dari peta jalan kami, rincian lebih lanjut akan diperbarui setelah airdrop selesai.

Putaran 1 Perhitungan Airdrop
Daftar Distribusi Putaran Air Putaran Pertama — Over
Putara 2 Perhitungan Airdrop — Open
bisa kunjingi di link ini : https://bitcointalk.org/index.php?topic=2110712.0

Airdrop putaran kedua akan berlangsung selama 2 minggu, dimulai pada tanggal 24 September 2017 pukul 15:00 UTC dan berlangsung sampai 7 Oktober 2017 pukul 15:00 UTC.
Berbeda dengan yang pertama, Airdrop Putaran 2 sama sekali tanpa syarat (tidak ada batasan twitter) dan gratis, yang Anda butuhkan hanyalah akun bitcointalk.
Airdrop akan berhenti segera saat persediaan airdrop (saat ini 728.235 POS) semuanya diklaim.
Semua token yang tersisa yang belum didistribusikan setelah airdrop putaran kedua, akan dialokasikan untuk airbag Sudut ke-3.
Kami akan melakukan yang terbaik untuk membuat airdrop seadil mungkin. Menyeringai.

Rules Airdrop :
1. Satu orang hanya bisa mendaftar sekali. Jika ditemukan bahwa beberapa pendaftaran milik orang yang sama, pendaftaran Anda akan gagal.
2. Semua anggota termasuk pemula yang memenuhi syarat.
3.Semua akun yang terdaftar di bitcointalk.org setelah 22 Agustus 2017 tidak memenuhi syarat.
4.Bitcointalk accounts dengan kepercayaan negatif tidak memenuhi syarat.
5.All accounts accept airdrop perlu menyimpan 90% dari token yang diterima pada account selama periode seluruh airdrop.
6. Semua akun yang menerima airdrop harus memperhatikan PoSToken termasuk thread dan situs kami ANN dan twitter atau yang lainnya dari petugas resmi.
Penjelasan awal benar milik Tim Dev PoSToken.

Jika akun Anda memenuhi persyaratan di atas, Anda bisa mendapatkan:
Peringkat Distribusi
Newbie 5 POS
Anggota Junior 15 POS
Anggota 20 POS
Anggota penuh 25 POS
Anggota Senior 30 POS
Anggota Hero 35 POS
Anggota legendaris 40 POS

Program Bounty Airdrop Putaran Kedua
Pada “Platform Airdrop Gratis PoSToken kami yang baru”, Anda juga bisa mendapatkan hadiah tambahan dengan mengikuti program karunia kami.

Join To Airdrop : https://airdrop.postoken.org/?r=cvvrfncy

Kami saat ini menawarkan karunia tanda tangan, bingkisan twitter, karunia youtube, karunia airticle, rujukan bounty. Btw, sebelum mendaftar, Anda harus mendaftarkan akun di platform kami.

Informasi Lebih lengkap simak dibawah ini :
Website : https://postoken.org
Whitepaper : https://postoken.org/whitepaper.pdf
GitHub : https://github.com/PoSToken
Twitter : https://twitter.com/PoSToken
Bitcointalk Thread : https://bitcointalk.org/index.php?topic=2110712.0

My Bitcointalk : https://bitcointalk.org/index.php?action=profile;u=1063970

Best Exchange to Buy Large Quantities of Bitcoin

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There are many good exchanges with strong liquidity. Below there’s a list of trading platforms that could help you buy or sell a high amount of Bitcoin. Here’s what I found after some research:

  • BitStamp
  • Poloniex
  • Coinbase
  • GDAX

These exchanges have daily volume which exceeds thousands of Bitcoins and their fees are relatively low. But depending on what you consider a large quantity of money maybe a better choice would be so-called OTC exchanges (OTC = over the counter). OTC exchanges refer to companies or individual wiling to sell you Bitcoins directly and not through a regulated and automated trading platform.

OTC exchanges benefits

  • High liquidity — OTC companies specialize in supplying high volumes of Bitcoin for large buyers such as institutional investors. This means you will be able to get your order fulfilled in full faster than on a traditional exchange most of the time.
  • Fixed price — When you buy large amounts of Bitcoin on a public automated exchange you will probably see the price rise as your order is being executed. This is due to the fact that once you finish buying from the “cheap” sellers, you gradually move to the “expensive” sellers. This means you don’t have a fixed price for your purchase. When you use an OTC exchange you can negotiate a fixed price (e.g. “Bitstamp rate + 1%).

A few OTC exchanges:

  • Genesis
  • ItBit (for companies)
  • Richfund

You can also try buying smaller amounts (up to 50BTC) on multiple regular exchanges in order not to disturb the market. Buying or selling a lot of Bitcoins can have an impact on the market and drive the price up or down, depending on your transaction. So be careful when doing so.

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Best Exchange to Buy Large Quantities of Bitcoin was originally published in Krown on Medium, where people are continuing the conversation by highlighting and responding to this story.

Crystal-Clear services

How often are we, business people, busy making money, modern residents of megacities and small towns, in need of various kinds of services. Starting from all sorts of repairs, and finishing with household chores: cleaning, cooking, buying food, raising children. And in need of a service, we face a problem: where to turn,
To get a quality, inexpensive service, moreover in the shortest time. And then the search starts on friends-acquaintances or on waves of the Internet. And even finding specialists in the provision of various services, we never know what pitfalls we may encounter when executing an order.
And to call to account the performer for a poor-quality service in the general legal illiteracy of the population and an impossible task at all.

Crystal Clear Services brings a revolutionary future and the latest technologies from the online industry to offline services for the population, which everyone uses on a regular basis and inevitably faces serious problems of lack of organization and non-transparency of the existing system of services. Having more than 12 years of experience and already based on the existing system of providing services to the public, we know how to change this market and dramatically increase the quality and volume of services using the latest technologies: Blockchain, Solidity.Etherium,IPFS.

For example, the market volume of cleaning services to the population in Russia is more than 1,000,000,000 $ per year, and in the US its over 17,000,000,000 $ and the growth potential of these services is more than 20% per year.

Core features of Crystal Clear Services.
• Decentralized service system
The absence of a central controlling link allows the system to be self-regulated and be truly
opened for all participants
• Transparency of all transactions and prices
Each executed service is recorded in a non-editable Blockchain that everyone can view
• Real reputation, reviews and recommendations
Since it will be impossible to delete or correct reviews, they will show the real state of affairs for
each performer
• Open history of transactions and work performed
Each participant will be able to see what works, when and for what cost it was performed, which
will increase the trust between the participants of the system
• Popularization of Blockchain Technologies and Crypto-Currency
The use of our platform will provide an opportunity for everyone to plunge into the wonderful
new world of a decentralized system of crypto-currencies
• System of bonuses and awards
For particularly meaningful actions within the platform (writing feedback, recommendations,
participation in court, affiliate programs), participants will additionally receive rewards in the
form of the Crystal Clear Token (CCT)
• Escrow system and price fixing
Thanks to the integrated system of Escrow, the payment risks from both sides will disappear,
and realization of the court of 5 random and objective participants will allow to solve even the
emerging complex disagreements
• The minimum fee of all existing systems
The only 1% system fee will attract more participants and promote the platform worldwide
• Application of the court of 5 random participants of the system
In case of controversial situations, the platform randomly selects 5 holders of system tokens and
requests them, passing the description of the situation from both sides. The decision of the
majority is considered objective and accepted by the system.
• Instant payment for services with an integrated exchange system
and the possibility to pay by cash
Payment for the services performed can be recorded both in the fiat currencies (dollars, euros,
rubles, etc.) and in the crypt (CCT, Bitcoin, Litecoin, ETH). Cash payments offline will be recorded
in the system by receiving confirmation of payment from both sides.
• Binding of plastic cards in the system for instant withdrawal of
funds
By tying in any card, the performer will be able to instantly withdraw money received for services
from any ATM.
• Tips and gratuity
Internal instant share system will help easily give the master some tips for their work or to thanks
for the review or feedback
• The use of a decentralized IPFS (InetrPlanetary File System)
To minimize the load on the Blockchain system and accelerate the interactions, the main data
array will be hashed and stored in the IPFS system, and only the hash code needed to extract
them will be written to the Blockchain.
• Absence of middleman and the possibility of discussing services
with the final contractor before the order
The internal messaging system will allow you to instantly clarify any information from the
performer before placing an order, so that there is no misunderstanding during the acceptance
of services
• Integrated system of service auctions
Any participant in the system will be able to open an auction for the service he needs, and then
choose the performer by price or reviews
• Global Blacklist System
Blacklists will allow system participants to deal with unscrupulous customers and performers.
Information about them will be immediately available for all participants, warning about
possible fraud on their part.
• Geolocation and worldwide usability
The possibility of using the platform in all countries allows you to take advantage of the highest
quality and at the best prices on any local services markets.

Team Crystal Clear Services:

The founder of the project Crystal Clear Services — Alexander Veretennikov — a successful entrepreneur with 10 years of experience in organizing international start-up projects both on the Internet and in the real economy and bringing them to a high level of profitability. More than 4 years of experience working with crypto-currencies and investing in blockchain-technology.
Ivan Chirkov — more than 10 years of experience in web design and development of old-ap projects. The developer of Internet projects and mobile applications for large business areas in telecommunications, government agencies. 7 years experience with cloud technologies.

Andrey Perevozchikov — more than 20 years of development in the field of databases,
Participated in major government projects to create global accounting systems. More than 3 years engaged in blockchain-technology.

Ilya Znachko — more than 12 years of experience in website design, mobile applications and front-end development.

Rajip Umar — more than 7 years of experience in developing applications for all platforms, web design, cloud and Internet technologies, Based on the blockchain. In addition, a team experienced in the field of blockchain-technologies and development of start-up projects of advisers.

ICO — $ 5,000,000
The period of the ICO is one month: from 01.09.2017 12:00 UTC to 01.10.2017 12:00 UTC.
CCT Tokens will be sold with the following bonuses:
The first hour is 40%
The first day — 30%
First week — 25%
The second week — 20%
The third week — 15%
Fourth week 10%

The cost of one token is 0.01 ETH.
The initial release of CCT tokens is 10,000,000.
After the pre-ICO and the main stage of the ICO, the CCT tokens will be released into the free circulation of crypto-currencies on the exchanges, and the CCT tokens will be available on the market. Twelve months after the ICO,
On a monthly basis, the reverse repurchase of CCT tokens will be made at the expense of proceeds to maintain a stable rate of the CCT token.

Road map:

Contacts

WHITEPAPER- http://crystal-clear.io/Whitepaper_english.pdf

WEBSITE- http://crystal-clear.io

FACEBOOK- https://www.facebook.com/CCSer/

TWITTER- https://twitter.com/CCS_Crystal

TELEGRAM- https://t.me/CCS_ENG

SLACK- https://crystal-clear-s.slack.com

My profile:https://bitcointalk.org/index.php?action=profile;u=1165718

Inilah masa depan investasi

Platform perdagangan terdesentralisasi yang akan mengubah cara Anda berinvestasi dalam proyek ini.

Ada banyak yang salah dengan layanan manajemen kepercayaan tradisional. Investor memiliki sedikit kontrol atas uang mereka dan mekanisme distribusi keuntungan tersembunyi di dalam perhitungan pialang.

Manajer kepercayaan hanya bisa menjangkau investor di wilayah geografis yang terbatas dan kurangnya transparansi menciptakan hubungan yang tidak bersahabat antara investor, manajer dan pialang yang selanjutnya mempersulit sistem tersebut.

Evolusi Investasi

Meskipun lompatan progresif ke depan di bidang keuangan lainnya, instrumen manajemen kepercayaan tetap tidak berubah. Manajer kehilangan potensi peningkatan pendapatan dan pertumbuhan investor, sementara investor dipaksa membuat keputusan dengan data yang tidak akurat dan menangani serangkaian komplikasi yang tidak perlu.

Instrumen baru dibutuhkan untuk memenuhi tuntutan ruang berkembang ini di era digital.

Genesis Vision adalah langkah selanjutnya dalam evolusi itu. Ini adalah platform manajemen kepercayaan revolusioner dan terdesentralisasi yang didukung oleh blockchain.

Genesis Vision menyediakan sistem distribusi investasi dan keuntungan yang transparan dan otomatis bagi investor dan akses ke kumpulan investor global untuk pengelola uang.

Bukan hanya platform manajemen kepercayaan lainnya. Inilah beberapa hal yang membedakan Genesis Vision.

  • Perdagangan dalam mata uang kripto dan fiat diperbolehkan.
  • Platform ini dibangun berdasarkan kontrak cerdas Ethereum, keseluruhan proses investasi, distribusi keuntungan, konversi komisi dan mata uang sepenuhnya otomatis oleh blockchain, membuatnya benar-benar transparan.
  • Manajer ahli dapat terhubung dengan ribuan investor secara global, sehingga meningkatkan ukuran dana dan kolam investor mereka.
  • Manajer dapat menambahkan ribuan investor baru ke dana mereka dari manapun di dunia.
  • Investor dapat menggunakan data yang dapat diandalkan untuk berinvestasi dengan para ahli yang berbeda untuk mencapai tujuan yang diinginkan (seperti keuntungan jangka pendek atau keuntungan jangka panjang) berdasarkan strategi perdagangan pakar.
  • Berinvestasi itu mudah. Setiap manajer ahli mengeluarkan cryptocurrency (koin) mereka sendiri, yang nilainya didasarkan pada keberhasilan perdagangan mereka dan dapat dibeli dan dijual di bursa internal Kejadian Kejadian. Investasi itu sederhana seperti membeli koin manajer.
  • Investor memiliki kontrol yang lebih besar atas dana mereka dan dapat menjual koin manajer setiap saat.
  • Apakah saya menyebutkan keseluruhan proses itu transparan

Genesis Vision adalah sebuah meritokrasi sejati dimana investor maupun manajer tidak ditahan oleh komplikasi dan hambatan saat ini dalam perdagangan dan investasi.

Masalah dengan investasi aset tradisional

Jika Anda berinvestasi pada aset tradisional melalui layanan pengelolaan uang, Anda memiliki beberapa alasan untuk khawatir.

  • Kemungkinan besar Anda terikat dengan broker tunggal dan manajer pialang ini.
  • Pialang memiliki kemampuan teknis untuk mempengaruhi data dan sejarah perdagangan manajer mereka.
  • Mekanisme investasi, komisi dan distribusi keuntungan tersembunyi di dalam perhitungan mereka dan tidak terbuka untuk pengawasan publik (yaitu op

Kurangnya transparansi ini menciptakan ketidakpercayaan di pasar (memang seharusnya begitu) dan mungkin yang paling tidak berperasaan, menghambat investasi dari orang-orang biasa, membatasi partisipasi ke elit keuangan.

Demikian pula, jika Anda berinvestasi secara eksklusif dalam kripto dan ingin melakukan diversifikasi ke pasar tradisional, masalah di atas mungkin akan memberi Anda jeda.

Tanpa kemampuan untuk membuat keputusan mengenai keuangan dan investasi pribadi, investor (orang biasa) tidak akan pernah memiliki kebebasan finansial dan selamanya akan bergantung sepenuhnya pada para ahli yang disebut.

Solusinya

Dengan menciptakan pertukaran internal di mana masing-masing manajer ahli mengeluarkan kripto-nya sendiri, nilai yang ditentukan oleh tingkat keberhasilan perdagangan mereka, Genesis Vision membuatnya sehingga investor memiliki tingkat kontrol yang lebih tinggi sambil tetap menerima pengelolaan ahli dari uang mereka.

Proses investasi itu sederhana

  • Beli koin manajer di bursa internal.
  • Keuntungan dan komisi secara otomatis dibayarkan pada akhir periode pelaporan yang telah ditentukan.
  • Semua konversi mata uang ditangani secara otomatis oleh platform.
  • Investor dapat dengan mudah menjual koin manajer di bursa internal.

Metode investasi ini memiliki keuntungan utama dibandingkan platform investasi tradisional.

Investor tidak hanya menginvestasikan uang mereka dan hidup dalam ketidakpastian sampai akhir periode pelaporan. Koin manajer itu sendiri menjadi aset. Investor akan dapat terus memantau kinerja dan nilai tukar koin manajer mereka dan membeli dan menjual kapan saja selama periode pelaporan. Ini adalah proses yang jauh lebih banyak dalam prosesnya, lalu berikan uang Anda kepada manajer dan harapkan yang terbaik.

Hal ini mendorong investor untuk secara potensial melakukan diversifikasi dan mengumpulkan paket besar koin yang berbeda (yaitu berinvestasi dengan manajer yang berbeda)

Pikirkan proses ini seperti bermain olahraga fantasi. Anda memilih pemain mana (yaitu manajer) yang ingin Anda mulai (investasikan dengan) berdasarkan pada siapa mereka bermain (kondisi pasar) dengan menggunakan data tentang kinerja dan gaya bermain sebelumnya (strategi perdagangan).

Selain itu, manajer yang berbeda menggunakan strategi perdagangan yang berbeda (beberapa secara agresif bertujuan untuk keuntungan jangka pendek sementara yang lain terus menavigasi keuntungan jangka panjang). Investor dapat menggunakan data yang dapat diandalkan untuk memilih pedagang mana yang mereka investasikan berdasarkan pada tujuan pribadi mereka.

Masa depan

Semua perangkat lunak Genesis Vision bersifat open source sehingga setiap orang dapat mengembangkannya dan membuatnya lebih baik, sehingga menciptakan kemungkinan yang tidak terbatas untuk penerapan platform Genesis Vision.

Genesis Vision menciptakan pasar yang sama sekali baru dengan menggabungkan dua ruang terpisah namun kuat di bidang keuangan dan memberdayakan orang-orang biasa untuk mengambil kendali lebih besar atas kebebasan finansial mereka dengan memberi mereka alat untuk membuat keputusan berdasarkan informasi dan dengan mudah berinvestasi dengan para ahli dalam sejumlah mata uang yang berbeda.

Sekarang, apakah Anda melihat mengapa saya menyebutnya sebagai langkah berikutnya dalam evolusi investasi.

Jika Anda ingin mempelajari lebih lanjut tentang platform atau memulai investasi hari ini, klik saja tautan di bawah ini untuk mendaftar.

Website: https://genesis.vision/

Facebook: https://web.facebook.com/GenesisVisionProject/?ref=ts&fref=ts

twitter: https://twitter.com/genesis_vision

Pengguna: rafajunior99

Bitcointalk: https://bitcointalk.org/index.php?action=profile;u=839548

Inilah masa depan investasi

Platform perdagangan terdesentralisasi yang akan mengubah cara Anda berinvestasi dalam proyek ini.

Ada banyak yang salah dengan layanan manajemen kepercayaan tradisional. Investor memiliki sedikit kontrol atas uang mereka dan mekanisme distribusi keuntungan tersembunyi di dalam perhitungan pialang.

Manajer kepercayaan hanya bisa menjangkau investor di wilayah geografis yang terbatas dan kurangnya transparansi menciptakan hubungan yang tidak bersahabat antara investor, manajer dan pialang yang selanjutnya mempersulit sistem tersebut.

Evolusi Investasi

Meskipun lompatan progresif ke depan di bidang keuangan lainnya, instrumen manajemen kepercayaan tetap tidak berubah. Manajer kehilangan potensi peningkatan pendapatan dan pertumbuhan investor, sementara investor dipaksa membuat keputusan dengan data yang tidak akurat dan menangani serangkaian komplikasi yang tidak perlu.

Instrumen baru dibutuhkan untuk memenuhi tuntutan ruang berkembang ini di era digital.

Genesis Vision adalah langkah selanjutnya dalam evolusi itu. Ini adalah platform manajemen kepercayaan revolusioner dan terdesentralisasi yang didukung oleh blockchain.

Genesis Vision menyediakan sistem distribusi investasi dan keuntungan yang transparan dan otomatis bagi investor dan akses ke kumpulan investor global untuk pengelola uang.

Bukan hanya platform manajemen kepercayaan lainnya. Inilah beberapa hal yang membedakan Genesis Vision.

  • Perdagangan dalam mata uang kripto dan fiat diperbolehkan.
  • Platform ini dibangun berdasarkan kontrak cerdas Ethereum, keseluruhan proses investasi, distribusi keuntungan, konversi komisi dan mata uang sepenuhnya otomatis oleh blockchain, membuatnya benar-benar transparan.
  • Manajer ahli dapat terhubung dengan ribuan investor secara global, sehingga meningkatkan ukuran dana dan kolam investor mereka.
  • Manajer dapat menambahkan ribuan investor baru ke dana mereka dari manapun di dunia.
  • Investor dapat menggunakan data yang dapat diandalkan untuk berinvestasi dengan para ahli yang berbeda untuk mencapai tujuan yang diinginkan (seperti keuntungan jangka pendek atau keuntungan jangka panjang) berdasarkan strategi perdagangan pakar.
  • Berinvestasi itu mudah. Setiap manajer ahli mengeluarkan cryptocurrency (koin) mereka sendiri, yang nilainya didasarkan pada keberhasilan perdagangan mereka dan dapat dibeli dan dijual di bursa internal Kejadian Kejadian. Investasi itu sederhana seperti membeli koin manajer.
  • Investor memiliki kontrol yang lebih besar atas dana mereka dan dapat menjual koin manajer setiap saat.
  • Apakah saya menyebutkan keseluruhan proses itu transparan

Genesis Vision adalah sebuah meritokrasi sejati dimana investor maupun manajer tidak ditahan oleh komplikasi dan hambatan saat ini dalam perdagangan dan investasi.

Masalah dengan investasi aset tradisional

Jika Anda berinvestasi pada aset tradisional melalui layanan pengelolaan uang, Anda memiliki beberapa alasan untuk khawatir.

  • Kemungkinan besar Anda terikat dengan broker tunggal dan manajer pialang ini.
  • Pialang memiliki kemampuan teknis untuk mempengaruhi data dan sejarah perdagangan manajer mereka.
  • Mekanisme investasi, komisi dan distribusi keuntungan tersembunyi di dalam perhitungan mereka dan tidak terbuka untuk pengawasan publik (yaitu op

Kurangnya transparansi ini menciptakan ketidakpercayaan di pasar (memang seharusnya begitu) dan mungkin yang paling tidak berperasaan, menghambat investasi dari orang-orang biasa, membatasi partisipasi ke elit keuangan.

Demikian pula, jika Anda berinvestasi secara eksklusif dalam kripto dan ingin melakukan diversifikasi ke pasar tradisional, masalah di atas mungkin akan memberi Anda jeda.

Tanpa kemampuan untuk membuat keputusan mengenai keuangan dan investasi pribadi, investor (orang biasa) tidak akan pernah memiliki kebebasan finansial dan selamanya akan bergantung sepenuhnya pada para ahli yang disebut.

Solusinya

Dengan menciptakan pertukaran internal di mana masing-masing manajer ahli mengeluarkan kripto-nya sendiri, nilai yang ditentukan oleh tingkat keberhasilan perdagangan mereka, Genesis Vision membuatnya sehingga investor memiliki tingkat kontrol yang lebih tinggi sambil tetap menerima pengelolaan ahli dari uang mereka.

Proses investasi itu sederhana

  • Beli koin manajer di bursa internal.
  • Keuntungan dan komisi secara otomatis dibayarkan pada akhir periode pelaporan yang telah ditentukan.
  • Semua konversi mata uang ditangani secara otomatis oleh platform.
  • Investor dapat dengan mudah menjual koin manajer di bursa internal.

Metode investasi ini memiliki keuntungan utama dibandingkan platform investasi tradisional.

Investor tidak hanya menginvestasikan uang mereka dan hidup dalam ketidakpastian sampai akhir periode pelaporan. Koin manajer itu sendiri menjadi aset. Investor akan dapat terus memantau kinerja dan nilai tukar koin manajer mereka dan membeli dan menjual kapan saja selama periode pelaporan. Ini adalah proses yang jauh lebih banyak dalam prosesnya, lalu berikan uang Anda kepada manajer dan harapkan yang terbaik.

Hal ini mendorong investor untuk secara potensial melakukan diversifikasi dan mengumpulkan paket besar koin yang berbeda (yaitu berinvestasi dengan manajer yang berbeda)

Pikirkan proses ini seperti bermain olahraga fantasi. Anda memilih pemain mana (yaitu manajer) yang ingin Anda mulai (investasikan dengan) berdasarkan pada siapa mereka bermain (kondisi pasar) dengan menggunakan data tentang kinerja dan gaya bermain sebelumnya (strategi perdagangan).

Selain itu, manajer yang berbeda menggunakan strategi perdagangan yang berbeda (beberapa secara agresif bertujuan untuk keuntungan jangka pendek sementara yang lain terus menavigasi keuntungan jangka panjang). Investor dapat menggunakan data yang dapat diandalkan untuk memilih pedagang mana yang mereka investasikan berdasarkan pada tujuan pribadi mereka.

Masa depan

Semua perangkat lunak Genesis Vision bersifat open source sehingga setiap orang dapat mengembangkannya dan membuatnya lebih baik, sehingga menciptakan kemungkinan yang tidak terbatas untuk penerapan platform Genesis Vision.

Genesis Vision menciptakan pasar yang sama sekali baru dengan menggabungkan dua ruang terpisah namun kuat di bidang keuangan dan memberdayakan orang-orang biasa untuk mengambil kendali lebih besar atas kebebasan finansial mereka dengan memberi mereka alat untuk membuat keputusan berdasarkan informasi dan dengan mudah berinvestasi dengan para ahli dalam sejumlah mata uang yang berbeda.

Sekarang, apakah Anda melihat mengapa saya menyebutnya sebagai langkah berikutnya dalam evolusi investasi.

Jika Anda ingin mempelajari lebih lanjut tentang platform atau memulai investasi hari ini, klik saja tautan di bawah ini untuk mendaftar.

Website: https://genesis.vision/

Facebook: https://web.facebook.com/GenesisVisionProject/?ref=ts&fref=ts

twitter: https://twitter.com/genesis_vision

Pengguna: rafajunior99

Bitcointalk: https://bitcointalk.org/index.php?action=profile;u=839548

The Alt coin world!!

The Alt coin world!!

I read this answer on Quora last week about how Matej Galvanek does his research about various alt coins that exist.

You can read his answer over here.

Some of the things that I thought were interesting are given below:

Steps

First I have to strongly believe that whole industry (cryptocurrencies) is disruptive and is here to stay and take over. And that belief must come from understanding, not blind wishes. For that, some studying is necessary - I read BTC whitepaperand Whitepaper of every cryptocurrency from TOP 10 by market cap to develop a strong base knowledge of the industry. I ask questions on reddit, etc. I stay clear from spam Facebook groups full of hyped up people talking about random price fluctuations.Then I start researching cryptocurrency by cryptocurrency. I quickly skim through the webpage. If I do not understand the key value proposition of the cryptocurrency, I write it off. I like to understand what I am buying, and there is lot of bullshit out there, with very unclear (if any) value proposition (usually anything regarding social media is bullshit).If I understand and like the value proposition of a coin or token, I am going to see under which blockchain is it build. Most of them are build under Ethereum. So I ask myself - does it make sense to invest in this coin? Isn’t it better to invest directly into Ethereum? How are they correlated?If I see the coin is priced pretty low (comparing market cap), I might go directly for the coin. If it already went up couple of hundreds or thousands of %, I might as well invest directly into ETH.When I decide the price is right, I am going to dig deeper - reading whitepaper, reddit boards (sometimes you find pearls like this ). I ask some hard questions -Is it inflationary and how much? Is it valuable for this project to use blockchain? Most of the services could just as well use SQL database and it wouldn’t matter. I beware of same old business disguising itself as disruptive blockchain tech. There are plenty of them.I pay special attention to team - who are these guys? How experienced are they? Are they fully committed or is this just a sidekick project? Especially - who are developers and how many of them is there? If I see 7 founders, and only 1–2 are devs(the rest usually being “marketing, community management, finance, sales, visionary…”) I run away.If the coin passes all these filters, I am going to close my eyes and buy for couple of bucks. I always only buy for as much as I can lose. I am not going to daytrade, stare into charts or panic sell. I am going to let it lie for 1–5 years, occasionally watching and reading the news about project. I also set up some sell limit order for 1/3 - 1/2 of the investment for 300% - 600% to secure a profit and freeroll if it spikes suddenly (which happens a lot here), depends on the coin and my faith in it.

Using these steps, I thought of building a research journal about every Alt coin that has existed, so that investors do not have to dig deep into researching white papers, blogs, articles, news, etc.

Each week I’ll be publishing about one or two crypto currencies here on Medium and also my blog (which is tba). I’ll be researching their white paper, the team behind it, use case, any significant news which might affect its price, articles from experts about this currency etc. Here on Medium, I’ll just be giving a short summary about that currency, and the rest of detailed article can be found on my website or blog, whatever you’d like to call it.

The Alt coin world!!

The Alt coin world!!

I read this answer on Quora last week about how Matej Galvanek does his research about various alt coins that exist.

You can read his answer over here.

Some of the things that I thought were interesting are given below:

Steps

First I have to strongly believe that whole industry (cryptocurrencies) is disruptive and is here to stay and take over. And that belief must come from understanding, not blind wishes. For that, some studying is necessary - I read BTC whitepaperand Whitepaper of every cryptocurrency from TOP 10 by market cap to develop a strong base knowledge of the industry. I ask questions on reddit, etc. I stay clear from spam Facebook groups full of hyped up people talking about random price fluctuations.Then I start researching cryptocurrency by cryptocurrency. I quickly skim through the webpage. If I do not understand the key value proposition of the cryptocurrency, I write it off. I like to understand what I am buying, and there is lot of bullshit out there, with very unclear (if any) value proposition (usually anything regarding social media is bullshit).If I understand and like the value proposition of a coin or token, I am going to see under which blockchain is it build. Most of them are build under Ethereum. So I ask myself - does it make sense to invest in this coin? Isn’t it better to invest directly into Ethereum? How are they correlated?If I see the coin is priced pretty low (comparing market cap), I might go directly for the coin. If it already went up couple of hundreds or thousands of %, I might as well invest directly into ETH.When I decide the price is right, I am going to dig deeper - reading whitepaper, reddit boards (sometimes you find pearls like this ). I ask some hard questions -Is it inflationary and how much? Is it valuable for this project to use blockchain? Most of the services could just as well use SQL database and it wouldn’t matter. I beware of same old business disguising itself as disruptive blockchain tech. There are plenty of them.I pay special attention to team - who are these guys? How experienced are they? Are they fully committed or is this just a sidekick project? Especially - who are developers and how many of them is there? If I see 7 founders, and only 1–2 are devs(the rest usually being “marketing, community management, finance, sales, visionary…”) I run away.If the coin passes all these filters, I am going to close my eyes and buy for couple of bucks. I always only buy for as much as I can lose. I am not going to daytrade, stare into charts or panic sell. I am going to let it lie for 1–5 years, occasionally watching and reading the news about project. I also set up some sell limit order for 1/3 - 1/2 of the investment for 300% - 600% to secure a profit and freeroll if it spikes suddenly (which happens a lot here), depends on the coin and my faith in it.

Using these steps, I thought of building a research journal about every Alt coin that has existed, so that investors do not have to dig deep into researching white papers, blogs, articles, news, etc.

Each week I’ll be publishing about one or two crypto currencies here on Medium and also my blog (which is tba). I’ll be researching their white paper, the team behind it, use case, any significant news which might affect its price, articles from experts about this currency etc. Here on Medium, I’ll just be giving a short summary about that currency, and the rest of detailed article can be found on my website or blog, whatever you’d like to call it.

Blockchain company will provide one million people in Asia with their first loans

By 2020, about 1 million people in Asia will receive their very first loans ever. Crypto economy is the tool that will help them to merge into financial markets and to apply for approximately 3 million payday loans annually. MicroMoney, a global blockchain company and lending services provider, aims to support this process allowing people with no credit rating score to enter Asian banks with positive credit histories.

MicroMoney’s co-founder, Anton Dziatkovsky, is going to form a market for the credit histories creation from scratch and their further support in emerging markets. Now his company works as a microfinance business helping the unbanked and underbanked people to provide their primary needs with payday loans. On the other hand, MicroMoney helps banks and other financial organizations to access new markets in the Southeast Asia and other emerging regions with lower risks providing them with a database of reliable borrowers in each region with all the segmentation by an audience, risk level and costs related to each segment. MicroMoney’s platform uses Big Data methods, all the data is keeping with the help of blockchain technology, and the unique scoring model based on information received from client’s mobile phone with the special application designed by the company.

The process looks quite simple for a lender: the Big Data platform drives all the data received from the phone through neural networks, analyzes the result, and evaluate a customer’s trustworthiness. Clear and full information about a person based on the analysis of a customer’s data available from all the mobile sources and includes career information, interests, social networks accounts (confirming that this particular person is real), travel notes, family status, penalties received and so on. According to Anton Dziatkovskii, this content sounds more truthful and allows predicting a customer’s behavior to avoid excessive risks.

The company chose the mobile phone because of a high level of smartphones’ penetration, even in countries with a low level of banking services distribution. For example, in Africa, 80% of the population does not have a bank account but 63 of 100 people use mobile phones. Secondly, this is a higher popularity of smartphones above laptops and computers. Finally, it’s practically equal capabilities of smartphones’ and PCs processors and features along with significant progress in financial services mobilization, cloud services, and Big Data systems to analyze all these data.

“95% of our clients take their first loan ever, — Anton Dziatkovsky says. — Usually, they get stuck in a kind of endless circle: if they need a credit, they need a credit history, and to get a credit score and the history they need a credit. Meanwhile, banks are keeping a focus on medium and large enterprises lending in emerging markets. Microfinance companies embrace the others but the process of loan applications approval in Asia is extremely complicated and long due to the lack of automation. The common practice there is to keep all the data in Excel or even in paper ledgers. For the loan application, a person needs a collateral (in Cambodia and Myanmar, for example, it can be real or land property) and a lot of papers such as references from police, municipality, property owner, income statement, a letter from job manager etc. A person may find four or six friends and band them to achieve a group loan. In Indonesia, Cambodia, Myanmar, and Sri Lanka, for example, the process may last from 1 week to 2–3 months. MicroMoney approve or decline a loan application within 15 minutes without any collaterals or documents required. The first loan will be small — about $23 usually but after 5–10 loans, a borrower can rise up to $200–300”.

In turn, banks, credit, and insurance companies have to spend up to 15% of the budget for the customers’ verification and purchase credit histories from credit bureaus in order to explore their risks and loan percentage to establish for each audience segment. According to statistics, banks make 2–3 requests per one person per year with the price of inquiry $1–10 average. MicroMoney plans to give all these financial organizations an access to its list of the most reliable borrowers from each region with positive credit score rates.

The market seems to be very perspective: 39% of the world’s population doesn’t have a bank account. According to the McKinsey, the most affected regions are Africa, Latin America, and the Middle East (about 65–80% of the adult population are unbanked).

MicroMoney now employs about 200 people in Cambodia, Myanmar, Singapore, Sri-Lanks, and Thailand to service its microfinance business and some software developers, marketing, and PR managers, copywriters from the United Kingdom, Israel, and Russia to promote the company. In Asia, the project works with local partners. The first partner is the adviser to the Prime Minister of Cambodia for Economic Affairs, and CEO of one of the largest development companies in the country Sonatra Group, Okna Sorn Sokna. The second is the East Wing ASA Capital venture fund with about $100 million of capital and its member, the head of Sonatra’s affiliate companies — Mr. Tetsuji Nagata. They both are not only the stakeholders and top-managers of MicroMoney but also enthusiastic advisors for the company’s token distribution campaign that will start this October.

Anton Dziatkovsky is sure to win the game and promises that the company’s tokens will grow constantly supported by the growth in the company’s microfinance business and payday loans approved, along with Big Data platform high demand from banks waiting for an entrance to emerging markets. “We will do our best to raise the price of our tokens up to +1000% for the first year due to our launch in five new markets by the end of 2017”.

MicroMoney plans to issue about 600 thousand payday loans per year and, thus, involve 1 million of unbanked people into crypto-economy by 2020. “Now about two and a half billion people worldwide are unserved and don’t have any access to bank services. Our goal is to connect banks and unbanked”, — notes Anton.

Blockchain company will provide one million people in Asia with their first loans

By 2020, about 1 million people in Asia will receive their very first loans ever. Crypto economy is the tool that will help them to merge into financial markets and to apply for approximately 3 million payday loans annually. MicroMoney, a global blockchain company and lending services provider, aims to support this process allowing people with no credit rating score to enter Asian banks with positive credit histories.

MicroMoney’s co-founder, Anton Dziatkovsky, is going to form a market for the credit histories creation from scratch and their further support in emerging markets. Now his company works as a microfinance business helping the unbanked and underbanked people to provide their primary needs with payday loans. On the other hand, MicroMoney helps banks and other financial organizations to access new markets in the Southeast Asia and other emerging regions with lower risks providing them with a database of reliable borrowers in each region with all the segmentation by an audience, risk level and costs related to each segment. MicroMoney’s platform uses Big Data methods, all the data is keeping with the help of blockchain technology, and the unique scoring model based on information received from client’s mobile phone with the special application designed by the company.

The process looks quite simple for a lender: the Big Data platform drives all the data received from the phone through neural networks, analyzes the result, and evaluate a customer’s trustworthiness. Clear and full information about a person based on the analysis of a customer’s data available from all the mobile sources and includes career information, interests, social networks accounts (confirming that this particular person is real), travel notes, family status, penalties received and so on. According to Anton Dziatkovskii, this content sounds more truthful and allows predicting a customer’s behavior to avoid excessive risks.

The company chose the mobile phone because of a high level of smartphones’ penetration, even in countries with a low level of banking services distribution. For example, in Africa, 80% of the population does not have a bank account but 63 of 100 people use mobile phones. Secondly, this is a higher popularity of smartphones above laptops and computers. Finally, it’s practically equal capabilities of smartphones’ and PCs processors and features along with significant progress in financial services mobilization, cloud services, and Big Data systems to analyze all these data.

“95% of our clients take their first loan ever, — Anton Dziatkovsky says. — Usually, they get stuck in a kind of endless circle: if they need a credit, they need a credit history, and to get a credit score and the history they need a credit. Meanwhile, banks are keeping a focus on medium and large enterprises lending in emerging markets. Microfinance companies embrace the others but the process of loan applications approval in Asia is extremely complicated and long due to the lack of automation. The common practice there is to keep all the data in Excel or even in paper ledgers. For the loan application, a person needs a collateral (in Cambodia and Myanmar, for example, it can be real or land property) and a lot of papers such as references from police, municipality, property owner, income statement, a letter from job manager etc. A person may find four or six friends and band them to achieve a group loan. In Indonesia, Cambodia, Myanmar, and Sri Lanka, for example, the process may last from 1 week to 2–3 months. MicroMoney approve or decline a loan application within 15 minutes without any collaterals or documents required. The first loan will be small — about $23 usually but after 5–10 loans, a borrower can rise up to $200–300”.

In turn, banks, credit, and insurance companies have to spend up to 15% of the budget for the customers’ verification and purchase credit histories from credit bureaus in order to explore their risks and loan percentage to establish for each audience segment. According to statistics, banks make 2–3 requests per one person per year with the price of inquiry $1–10 average. MicroMoney plans to give all these financial organizations an access to its list of the most reliable borrowers from each region with positive credit score rates.

The market seems to be very perspective: 39% of the world’s population doesn’t have a bank account. According to the McKinsey, the most affected regions are Africa, Latin America, and the Middle East (about 65–80% of the adult population are unbanked).

MicroMoney now employs about 200 people in Cambodia, Myanmar, Singapore, Sri-Lanks, and Thailand to service its microfinance business and some software developers, marketing, and PR managers, copywriters from the United Kingdom, Israel, and Russia to promote the company. In Asia, the project works with local partners. The first partner is the adviser to the Prime Minister of Cambodia for Economic Affairs, and CEO of one of the largest development companies in the country Sonatra Group, Okna Sorn Sokna. The second is the East Wing ASA Capital venture fund with about $100 million of capital and its member, the head of Sonatra’s affiliate companies — Mr. Tetsuji Nagata. They both are not only the stakeholders and top-managers of MicroMoney but also enthusiastic advisors for the company’s token distribution campaign that will start this October.

Anton Dziatkovsky is sure to win the game and promises that the company’s tokens will grow constantly supported by the growth in the company’s microfinance business and payday loans approved, along with Big Data platform high demand from banks waiting for an entrance to emerging markets. “We will do our best to raise the price of our tokens up to +1000% for the first year due to our launch in five new markets by the end of 2017”.

MicroMoney plans to issue about 600 thousand payday loans per year and, thus, involve 1 million of unbanked people into crypto-economy by 2020. “Now about two and a half billion people worldwide are unserved and don’t have any access to bank services. Our goal is to connect banks and unbanked”, — notes Anton.

Welcome to Global Jobcoin ICO

Global Jobcoin (GJC) is an ERC20 decentralized token to pay for services related to employment. Using the Ethereum block chain we are creating this token for employers & employees worldwide.

Global Jobcoin will be used on our Job platforms in Switzerland, Germany, Austria & Poland. As we expand our operations worldwide, Global Jobcoin will become the essential choice of payment on all our platforms around the world. We are also partnering with other partner Job boards to offer integration of Global Jobcoin in to their platforms.

Jobstoday is a product of Sunny Look Media LLC. Jobstoday platforms have been completely financed by its founders, Sanket Deshmukh & Lukasz Ochnik, without any venture capital investment.

Our main idea of developing this platform was to help individuals, small & medium businesses afford a platform for finding good talented employees. We have built a profitable business in a short period of time & with the Initial coin offering, we want to grow our operations worldwide & give great incentives to our investors.

We are raising funds to expand Jobstoday in many more countries around the world. With the ICO Crowd Sale we can achieve & cover many more marketing & sales channels & win new customers. Our aim is to make Global Jobcoin a preferred crypto currency for employment services worldwide.

For more information on our ICO, please read our white paper on our official website: https://www.globaljobcoin.com/

Token Economy #15: VC-induced ICOs

+ first cross-chain atomic swaps, new funds, FreeSociety

😈 VC firms pushing for / condoning ICOs: a dangerous game

This week, after a few more calls with startups that are turning into wannabe ICO issuers and most of all after seeing yet another major VC-backed company planning an ICO, I started questioning the intentions and goals of the VCs and investors that are pushing their portfolio companies to raise capital with token sales.

I think we are reaching the limit of the first wave of ICOs, with a constant stream of absolutely bonkers proposals bordering on scams.

I hear your questions: “if you’re so critical of ICOs, why are you even writing this newsletter and caring about this market?”

My interest lies in the technological revolution rather than in the bypassing of venture capital and other traditional funding mechanisms.
Bitcoin and Ethereum have been the two biggest technological and economic revolutions I’ve witnessed in my life, and they’ll be hard to beat in the future.

When I think we now have almost fully-featured trustless, censorship-resistant economic and computing networks, I still get giddy. It’s amazing.

But while I think democratization of access to capital is amazing, I also think we’re not at that stage at the moment, and we won’t be for a while, not until we’re able to move a lot of the economic activity to the blockchain and until we’ll coordinate entrepreneurial endeavors with Aragon or similar structures.

What we’re witnessing now is just a complete cash grab from people that are devising tokens just to justify raising cash from absolutely uninformed market participants.

In my town, asking money from people in exchange for something you think is worth 0 is squarely on the other side of the “OK” line.

If I see a desperate startup do that just to survive, I just recognize it and instantly pass.

BUT, when I suspect that some VCs are actively suggesting to their companies to think about token sales, then I start to worry.
And I really worry for them, but most of all for all of the venture ecosystem.

As usual when something wanders through my neural paths, I posted it to twitter, but this time I’d really like to explore the topic a bit more in depth, as well as solicit the feedback and ideas of both crypto and VC people.

My current view is that the game that ICO-pushing VCs are playing is all risk and very little reward, which doesn’t make it a great one.

- Let’s assume we have a non-performing company in our portfolio with a large user base.
This is maybe a company that has failed to find a way to monetize, or doesn’t have enough growth metrics to attract the next VC round, or just plainly hasn’t found PMF yet.

- Let’s also assume we are well aware of the ICO trend, and are capable of providing a strong signal to the wider market, bumping up the chances of said company to raise substantial funding in a public token sale.

What do we do? And why?

My mental model has to split or fork here, based on one crucial factor:

do we, as investors, actually believe that an application-specific token with no cryptographic reason of existence would generate and retain value both for the company and the token holders?

If we do believe that, then it’s all good. We don’t care about the equity anymore, are happy to relinquish governance to a foundation maybe, and will just hold the token for the long term until the company has developed its ecosystem and has been able to align the value exchanged on the network to the token.

But I have a hard time thinking that some of the smartest minds in the world believe that introducing more friction in an ecosystem, with no underlying “platform protocol” which would need a token, would result in any more value (especially at the valuations for tokens that are flying around).

- So, let’s now also assume that we don’t really believe the token should exist or would improve the chances of success for the company.

What do we do now?
Do we condone / suggest an ICO?
Do we advise against one?

It’s a VERY tricky question.

After a bit of thinking, my bottom line is that there is no real positive outcome in a situation like this for the VC firm.

Let’s assume the positive scenario where there is a successful token sale, and the company raises $100M.

The company gets some nice new runway, but even if it’s then able to find its real path, it would have trouble to get acquired. Who would ever in their right mind acquire a company that sold hundreds of millions of dollars of securities around the world to god knows who? That would not pass one single due diligence meeting with any reasonable acquirer.

Same goes for a public market listing.

So the equity of the company, even if it might not have been worth much earlier, is now worth probably even less.

Obviously if the company raises the money and then fails to achieve anything, we’d now have thousands of pissed “investors” all over the world.

In both cases, the VC doesn’t really come out of it too well, and I think could go down in flames like some firms that were financing pre-bubble internet firms.

Because, now, instead of being remembered as the VC who backed that startup that failed, we’ll be remembered as the VC who backed a startup that failed and also sold extremely high risk securities to users all around the world for a lot of money.

One of my favorite comments on a group was:
“If they were to incorporate a token for a novel use case, and sell a small amount, at a fair valuation. And if they didn’t use that funds to pay back investors, I would be excited to see adoption by a large app.
But this isn’t adoption. This is a bailout.”

And, FWIW, this is the feeling with almost everyone I consider smart and informed in the crypto community.

To my surprise, I got an answer to the previously linked tweet, from none other than Fred Wilson himself.

I’ve revered Fred for most of my life, and have been extremely impressed with his ability to grasp new trends and get conviction on them, so I have nothing but respect for the man,

But the answer wasn’t really too convincing this time around.

Fred answered linking to a blog post from Albert Wenger (another of my favorite people) where he basically argues that we should encourage different ways of pursuing a path to a decentralized future. Some will do it with ICOs for new protocols and some will do it with ICOs for current networks.

My view is that we can accelerate towards a decentralized future without VCs offloading their venture risk to the public.

Companies with existing user bases should absolutely experiment (because let’s remember that here no one has a clue what they’re doing, we’re all just experimenting) with tokens, but they can very effectively and much more safely do that without having people buy them.
They can just give them out to incentivize specific actions or assign monetary value to specific and previously un-valued transactions of any sort.

I think it’s dishonest to not address this point and carry on like ICOs are a must if you want to introduce a token. They aren’t.

And Fred very well knows this. His only argument on this is that these companies have heavy burns because of their large audiences.
Was really surprised to get this type of answer from someone like Fred. Might start believing they actually think that it’s ok because they have a lot of costs.

In a chat with Joe Urgo of district0x he provided a very interesting completely alternative idea to mine, saying that this is the only right behavior.

“Like he says in his follow up tweet, necessity is the mother of invention. Like we were talking about the other day, these companies are dead in the water as is, so they need to try something. I don’t know that I could call what they are doing dangerous at all, they are being prudent, they are advising their dying investments to take a hail mary and at least try to make something work.

If VC firms know this is a viable option at the moment (which they all should), then it could be argued that _not_ advising companies in similar boats to do the same is dangerous. It shows they are more worried about reputational blowbacks to them than in helping their companies succeed.”

I guess only time will tell.

For now, I’m still only writing checks for core cryptographic protocols whose usage is directly linked to the value of the token and still advising anyone which does not have a core need or use for a token to 1) not use one and 2) if they really must, then most definitely don’t do an ICO but just introduce it gradually, test, learn and think about the future repercussions of their actions.

📌 Token Economy

If I’d Known What We Were Starting

An absolute gem from the #3 Bitcoin user, after Satoshi and Hal Finney. I don’t think it deserves a tl;dr because you need to read this now.

Developers Complete First-Ever Atomic Swap Between Litecoin and Decred

Another week, another major milestone for crypto.

If you’re tired of ICOs, this is the news you’re looking for.

Decred and Litecoin developers have successfully completed an Atomic Swap, according to a tweet from the Decred team.

An atomic swap is basically a ShapeShift-like transaction that happens automatically, on-chain.

Unfortunately there hasn’t been too much disclosed on how it actually happened, so we will have to wait to see how it impacts projects like 0x and Kyber.

The first thought here, is that atomic swaps will be better than using a DEX protocol or platform, BUT they won’t have relayers and order books to organize liquidity.

Another thing to add to the “super interesting to think about” stack.

Markowitz portfolio optimization for cryptocurrencies in Catalyst

Very cool article by a former Mexico Central Bank portfolio manager, now an MBA candidate at Sloan, on how to apply portfolio optimization based on standard MPT to crypto portfolios.

The author uses Enigma’s Catalyst platform (a platform to run micro crypto funds using data shared on the Enigma network).

Accelerating Evolution Through Forking

In a follow up post to his excellent funding protocol development through inflation, Fred Ehrsam elaborates on the value of (hard) forks as an evolutionary mechanism for blockchains.

Fred make strong argument for redistribution of tokens at forks (which rarely happens) to ensure incentives are fully aligned, by switching control of foundation-like tokens and diluting all token holders to make grants for the developers leading the fork.

Bitcoin Developers Reveal Roadmap for ‘Dandelion’ Privacy Project

I’m not going to link to the actual BIP thread because it’s too complicated, BUT I think this is interesting.

There is a team that is working on a BIP called Dandelion which would add a privacy layer on top of Bitcoin transactions by removing the ability to find out the IP from the transactions.

The solution is a sort of TOR for Bitcoin.

This is interesting because many of the Bitcoin monitoring tools sold to governments and police around the world use this specific “feature” of the network to identify users.

The race for privacy coins is on, and with Ethereum enabling zk-snarks and Monero’s price rise + ZCash constant development, I don’t really see a future for non-private-by-default coins.

Ethereum’s Metropolis Hardfork Activated on Testnet, a Zcash Transaction Verified

Byzantium, the first part of Ethereum’s Metropolis hardfork, is live on testnet and it was just used to verity a zk-snark transaction.

Zooko also wrote about this from Zcash’s side.

So cool to see core technology advancements go this fast, in a sea of ICO scams.

This is where the future is.

Ethereum founder Vitalik Buterin discusses initial coin offerings, the consensus algorithm, and the most interesting apps

Every day I grow more convinced that our generation’s Steve Jobs will be Vitalik.

“But whereas in bitcoin the protocol exists to maintain the currency, in ethereum, the viewpoint is much more that the currency exists to maintain the protocol.”

A great interview to read.

I am VERY excited about Ethereum, given the amazing pace of development. If my VC investment days have taught me something, seeing a project with this sort of public interest + quality fast code shipping, it’s not going to slow down any time soon.

Vitalik shares his top-three priorities for Ethereum’s development at the moment:
- PoS
- Scalability
- Privacy

🚀

Decentralizing Everything with Ethereum’s Vitalik Buterin | Disrupt SF 2017

25 minutes of Naval interviewing Vitalik.

Amazing background watching.

YC wants to let people invest in its startups through the blockchain

The title is a bit misleading, but Sam is apparently admitting to YC having done work to figure out its approach to ICOs.

In the last YC batch there were only 2 blockchain companies, but that might change with the next one.

We’ll keep an eye out.

An Alleged Ethereum Hacker Gave Back $3 Million And Nobody Knows Why

Well this is a weird one. Remember that CoinDash hack? (Where a bunch of people even suggested that it was an inside job..)

Apparently the hacker just sent back around $3M worth of Ether they stole form Coindash / to Coindash.

I don’t have any mental energy or cycles to spend on this one, so just presenting it like it is.

Announcing Ethereum & Litecoin vaults — Coinbase

FINALLY. This is my #1 favorite feature of Coinbase, but was only available for Bitcoin until this new release.

If you don’t have a hardware wallet, this is what you should be using.

Guide: Coin recovery tool — TREZOR

Every time someone improves on the UX of crypto usage, it’s awesome news.

In this case, Trezor has released some tools to enable the recovery of most erroneous transactions (when you send coins from specific chains to wrong chains or badly formatted addresses).

🚨 Growing pains

The FCA has spoken on ICOs

The UK Financial Conduct Authority (FCA) issued a brief statement warning consumers about the risks involved in ICOs, stating how some ICOs “fall outside the regulated space”, some don’t. Notable difference with US security law is that the UK does not have an equivalent to the Howey test.

On that note, if you are into security law and can bear with Preston Byrne’s marmot jokes, he’s meticulously dissected the FCA announcement here from the perspective on an English lawyer.

Of all the major regulators who have expressed views, the UK FCA appears to have taken the most light touch approach so far.

🤡 ICO Madness

Raiden ICO: Ethereum Scaling Solution to Launch Publicly Traded Token

“Ethereum’s answer to bitcoin’s Lightning Network will have one notable difference — a publicly traded token to be sold in a Dutch auction in October.”

This is a big disappointment for me, as I was really hoping that Raiden would launch without a token and bring Lightning-like capabilities to the Ethereum chain.

Too hard to ignore the millions flying around obviously.

Announcing the SpankChain ICO

I’ll try to not trigger the spam filters here, article is SFW, site is not.

Crypto bubble fears grow as Jamie Foxx, celebrities jump aboard

We’ve spoken about this before, but hopefully peak ICO is almost around the corner.

We wouldn’t be surprised if some of these celebrities are going to end up being prosecuted for the promotion of unregistered securities, insider trading, bribes and so on, as they most likely are receiving both cash and tokens, which they have an incentive to help appreciate in value.

🍿

Is There a Cryptocurrency Bubble? Just Ask Doge. — The New York Times

The NYT interviews the creator of Dogecoin, which has been sounding the alarm for a while now.

Blackmoon Crypto raises $20 million in ICO in 1 day, and $10M in pre-sale

The Blackmoon Crypto platform touts itself as “a one-stop solution for asset managers to create and manage legally-compliant tokenized funds”

😎 Cool new projects

FreeSociety

Roger Ver and a bunch of early Bitcoin millionaires (billionaires?) are planning to buy land and sovereignty over that land from a country. They have more than $100M, which they plan to offer to highly indebted countries to form a “new Monaco” of sorts. It needs to be in a safe zone and be accessible by water.

Libertarians at it again.

I was enamored with the Seasteading Institute efforts, but I’ve also grown more interested and appreciative of the roles that nation states play in our lives.

That being said, I’m all for experimentation in government and monetary policy, so I’m extremely excited by this!

I’m also pretty sure that we might be looking at another ICO here.. but hopefully they’ll just adopt Bitcoin as the national currency instead.

The Ocean Protocol

BigchainDB, in partnership with Dex, unveiled the concept behind the Ocean Protocol, the natural evolution of their work on blockchain + AI.

Ocean will be a protocol and network to facilitate data marketplaces. The protocol will have the role of figuring out who owns what and provide the linking infrastructure.

Data marketplaces have been a pretty obvious idea since the beginning of blockchain and smart contract technologies, so it’s exciting to see more people try to implement them.

Ocean will probably go on to compete with the Enigma network from MIT’s Media Lab.

Harvest — Wind energy used to mine cryptocurrency to fund climate research

“Harvest” is a piece of tech-art commissioned by the Konstmuseet i Skövde museum that uses wind energy to power a computer, connected to the internet via satellite or 4G and geared with an Nvidia graphics card, to mine Zcash. The earnings will fund for climate-change research.

The interesting aspect of this experiment is that crypto currency offers an alternative and decentralised way to ‘store’ energy without relying on a centralised grid and the fees typically incurred in transferring energy to it.

Announcing Balanc3: Quickbooks for Token Launches

Balanc3 — a ConsenSys formation — has been working in stealth for over a year to build out a blockchain-based accounting platform.

Super cool. They take live blockchain transaction data and turn it into accounting style data.
Sounds like the worst possible job to me, but really glad someone is doing it — I’m sure this will be massively useful to a number of projects in the future.

Ripio

RIpio is building a global credit network solution that aims to enhance transparency and reliability in credit and lending

😤 First they ignore you, then they laugh at you, then…

ECB’s Constancio compares Bitcoin to Dutch tulip mania

“Bitcoin is not a currency but a mere instrument of speculation”. “Bitcoin is sort of a tulip”.

They just don’t know when to stop the broken record do they?

Stay Away from Bitcoin, It’s an ‘Absolute Bubble’ Says Hathaway

This is just a gem to be added to the Bitcoin Obituaries, and I think we’ll be watching this again and again in a few years.

It’s still fascinating how some people just. do. not. get. it. and feel confident in dismissing the whole asset class and tech movement.

I just hope I’ll never end up making such comments about new technologies when I’m all grown up. Chances are slim unfortunately 😂

Russian Governor Invites Cryptocurrency Miners to Set Up Mining Farms in Leningrad

The regulatory and geopolitical wars (protocolitics as Yannick coined them) continue!
The Russian Leningrad region wants to create an industrial park for cryptocurrency mining including bitcoin.
They are promising cheap energy and some special conditions, to try and attract maybe even some of the Chinese operators.

JPMorgan Chase boss Jamie Dimon faces market abuse report after his comments about bitcoin

Fun times!

Blockswater, an algorithmic liquidity provider, has filed a market abuse report against Jamie Dimon for “spreading false and misleading information” about bitcoin with the Swedish Financial Supervisory Authority.

They say Dimon violated Article 12 of the European Union’s Market Abuse Regulation (MAR) by declaring that cryptocurrency bitcoin was “a fraud”.

They also say that JPM traded BTC derivatives in Stockholm, so they might actually have a real case.

The SEC Got Hacked, Took A Year To Learn People Might’ve Traded On It, Disclosed These Facts Parenthetically In A Bizarre Statement, And Wants Companies To Do None Of These Things

On the internet, everyone gets hacked.

🤑 VC corner

Balderton leads $9 million Series B in Luno

We humbly admit we had not come across Luno before, and praise Nicolas Debock from Balderton for keeping his lips sealed about it at the Venture Retreat last weekend…

The play here is the global mass market adoption of crypto and the need for user friendly front ends for fiat to enter the ecosystem.

💰 New funds

Linda Xie leaves Coinbase to start a yet unnamed crypto-fund

Coinbase spins out crypto fund managers faster than it resolves support tickets.

After Nick Tomaino (1Confirmation) and Olaf Carlson-Wee (Polychain), Linda, former product manager, and Jordan Clifford, software engineer, join forces in yet another crypto hedge fund endeavour.

Steven McKie leaves Purse to start crypto hybrid hedge/venture fund Amentum

Author of Blockchannel podcast and former head of growth at Purse and more recently decentralised-Quora Cent.co, Steven McKie is teaming up with three other partners with a new crypto fund endeavour. Focus will be on public crypto assets as well as ICO pre-sales, with no info yet on fund size and other other GPs.

Steven is a true crypto-native so we very much look forward to finding out more about what he’s been cooking up, we hope it’s not just about muscling in on pre-sale discounts and buy & hold ETH/BTC!

More info soon, we are promised.

ℹ️ About us

Token Economy is written and curated by Stefano Bernardi and Yannick Roux.

If you’re building a new fundamental piece of technology for the future, please reach out 🤙

Token Economy #15: VC-induced ICOs

+ first cross-chain atomic swaps, new funds, FreeSociety

😈 VC firms pushing for / condoning ICOs: a dangerous game

This week, after a few more calls with startups that are turning into wannabe ICO issuers and most of all after seeing yet another major VC-backed company planning an ICO, I started questioning the intentions and goals of the VCs and investors that are pushing their portfolio companies to raise capital with token sales.

I think we are reaching the limit of the first wave of ICOs, with a constant stream of absolutely bonkers proposals bordering on scams.

I hear your questions: “if you’re so critical of ICOs, why are you even writing this newsletter and caring about this market?”

My interest lies in the technological revolution rather than in the bypassing of venture capital and other traditional funding mechanisms.
Bitcoin and Ethereum have been the two biggest technological and economic revolutions I’ve witnessed in my life, and they’ll be hard to beat in the future.

When I think we now have almost fully-featured trustless, censorship-resistant economic and computing networks, I still get giddy. It’s amazing.

But while I think democratization of access to capital is amazing, I also think we’re not at that stage at the moment, and we won’t be for a while, not until we’re able to move a lot of the economic activity to the blockchain and until we’ll coordinate entrepreneurial endeavors with Aragon or similar structures.

What we’re witnessing now is just a complete cash grab from people that are devising tokens just to justify raising cash from absolutely uninformed market participants.

In my town, asking money from people in exchange for something you think is worth 0 is squarely on the other side of the “OK” line.

If I see a desperate startup do that just to survive, I just recognize it and instantly pass.

BUT, when I suspect that some VCs are actively suggesting to their companies to think about token sales, then I start to worry.
And I really worry for them, but most of all for all of the venture ecosystem.

As usual when something wanders through my neural paths, I posted it to twitter, but this time I’d really like to explore the topic a bit more in depth, as well as solicit the feedback and ideas of both crypto and VC people.

My current view is that the game that ICO-pushing VCs are playing is all risk and very little reward, which doesn’t make it a great one.

- Let’s assume we have a non-performing company in our portfolio with a large user base.
This is maybe a company that has failed to find a way to monetize, or doesn’t have enough growth metrics to attract the next VC round, or just plainly hasn’t found PMF yet.

- Let’s also assume we are well aware of the ICO trend, and are capable of providing a strong signal to the wider market, bumping up the chances of said company to raise substantial funding in a public token sale.

What do we do? And why?

My mental model has to split or fork here, based on one crucial factor:

do we, as investors, actually believe that an application-specific token with no cryptographic reason of existence would generate and retain value both for the company and the token holders?

If we do believe that, then it’s all good. We don’t care about the equity anymore, are happy to relinquish governance to a foundation maybe, and will just hold the token for the long term until the company has developed its ecosystem and has been able to align the value exchanged on the network to the token.

But I have a hard time thinking that some of the smartest minds in the world believe that introducing more friction in an ecosystem, with no underlying “platform protocol” which would need a token, would result in any more value (especially at the valuations for tokens that are flying around).

- So, let’s now also assume that we don’t really believe the token should exist or would improve the chances of success for the company.

What do we do now?
Do we condone / suggest an ICO?
Do we advise against one?

It’s a VERY tricky question.

After a bit of thinking, my bottom line is that there is no real positive outcome in a situation like this for the VC firm.

Let’s assume the positive scenario where there is a successful token sale, and the company raises $100M.

The company gets some nice new runway, but even if it’s then able to find its real path, it would have trouble to get acquired. Who would ever in their right mind acquire a company that sold hundreds of millions of dollars of securities around the world to god knows who? That would not pass one single due diligence meeting with any reasonable acquirer.

Same goes for a public market listing.

So the equity of the company, even if it might not have been worth much earlier, is now worth probably even less.

Obviously if the company raises the money and then fails to achieve anything, we’d now have thousands of pissed “investors” all over the world.

In both cases, the VC doesn’t really come out of it too well, and I think could go down in flames like some firms that were financing pre-bubble internet firms.

Because, now, instead of being remembered as the VC who backed that startup that failed, we’ll be remembered as the VC who backed a startup that failed and also sold extremely high risk securities to users all around the world for a lot of money.

One of my favorite comments on a group was:
“If they were to incorporate a token for a novel use case, and sell a small amount, at a fair valuation. And if they didn’t use that funds to pay back investors, I would be excited to see adoption by a large app.
But this isn’t adoption. This is a bailout.”

And, FWIW, this is the feeling with almost everyone I consider smart and informed in the crypto community.

To my surprise, I got an answer to the previously linked tweet, from none other than Fred Wilson himself.

I’ve revered Fred for most of my life, and have been extremely impressed with his ability to grasp new trends and get conviction on them, so I have nothing but respect for the man,

But the answer wasn’t really too convincing this time around.

Fred answered linking to a blog post from Albert Wenger (another of my favorite people) where he basically argues that we should encourage different ways of pursuing a path to a decentralized future. Some will do it with ICOs for new protocols and some will do it with ICOs for current networks.

My view is that we can accelerate towards a decentralized future without VCs offloading their venture risk to the public.

Companies with existing user bases should absolutely experiment (because let’s remember that here no one has a clue what they’re doing, we’re all just experimenting) with tokens, but they can very effectively and much more safely do that without having people buy them.
They can just give them out to incentivize specific actions or assign monetary value to specific and previously un-valued transactions of any sort.

I think it’s dishonest to not address this point and carry on like ICOs are a must if you want to introduce a token. They aren’t.

And Fred very well knows this. His only argument on this is that these companies have heavy burns because of their large audiences.
Was really surprised to get this type of answer from someone like Fred. Might start believing they actually think that it’s ok because they have a lot of costs.

In a chat with Joe Urgo of district0x he provided a very interesting completely alternative idea to mine, saying that this is the only right behavior.

“Like he says in his follow up tweet, necessity is the mother of invention. Like we were talking about the other day, these companies are dead in the water as is, so they need to try something. I don’t know that I could call what they are doing dangerous at all, they are being prudent, they are advising their dying investments to take a hail mary and at least try to make something work.

If VC firms know this is a viable option at the moment (which they all should), then it could be argued that _not_ advising companies in similar boats to do the same is dangerous. It shows they are more worried about reputational blowbacks to them than in helping their companies succeed.”

I guess only time will tell.

For now, I’m still only writing checks for core cryptographic protocols whose usage is directly linked to the value of the token and still advising anyone which does not have a core need or use for a token to 1) not use one and 2) if they really must, then most definitely don’t do an ICO but just introduce it gradually, test, learn and think about the future repercussions of their actions.

📌 Token Economy

If I’d Known What We Were Starting

An absolute gem from the #3 Bitcoin user, after Satoshi and Hal Finney. I don’t think it deserves a tl;dr because you need to read this now.

Developers Complete First-Ever Atomic Swap Between Litecoin and Decred

Another week, another major milestone for crypto.

If you’re tired of ICOs, this is the news you’re looking for.

Decred and Litecoin developers have successfully completed an Atomic Swap, according to a tweet from the Decred team.

An atomic swap is basically a ShapeShift-like transaction that happens automatically, on-chain.

Unfortunately there hasn’t been too much disclosed on how it actually happened, so we will have to wait to see how it impacts projects like 0x and Kyber.

The first thought here, is that atomic swaps will be better than using a DEX protocol or platform, BUT they won’t have relayers and order books to organize liquidity.

Another thing to add to the “super interesting to think about” stack.

Markowitz portfolio optimization for cryptocurrencies in Catalyst

Very cool article by a former Mexico Central Bank portfolio manager, now an MBA candidate at Sloan, on how to apply portfolio optimization based on standard MPT to crypto portfolios.

The author uses Enigma’s Catalyst platform (a platform to run micro crypto funds using data shared on the Enigma network).

Accelerating Evolution Through Forking

In a follow up post to his excellent funding protocol development through inflation, Fred Ehrsam elaborates on the value of (hard) forks as an evolutionary mechanism for blockchains.

Fred make strong argument for redistribution of tokens at forks (which rarely happens) to ensure incentives are fully aligned, by switching control of foundation-like tokens and diluting all token holders to make grants for the developers leading the fork.

Bitcoin Developers Reveal Roadmap for ‘Dandelion’ Privacy Project

I’m not going to link to the actual BIP thread because it’s too complicated, BUT I think this is interesting.

There is a team that is working on a BIP called Dandelion which would add a privacy layer on top of Bitcoin transactions by removing the ability to find out the IP from the transactions.

The solution is a sort of TOR for Bitcoin.

This is interesting because many of the Bitcoin monitoring tools sold to governments and police around the world use this specific “feature” of the network to identify users.

The race for privacy coins is on, and with Ethereum enabling zk-snarks and Monero’s price rise + ZCash constant development, I don’t really see a future for non-private-by-default coins.

Ethereum’s Metropolis Hardfork Activated on Testnet, a Zcash Transaction Verified

Byzantium, the first part of Ethereum’s Metropolis hardfork, is live on testnet and it was just used to verity a zk-snark transaction.

Zooko also wrote about this from Zcash’s side.

So cool to see core technology advancements go this fast, in a sea of ICO scams.

This is where the future is.

Ethereum founder Vitalik Buterin discusses initial coin offerings, the consensus algorithm, and the most interesting apps

Every day I grow more convinced that our generation’s Steve Jobs will be Vitalik.

“But whereas in bitcoin the protocol exists to maintain the currency, in ethereum, the viewpoint is much more that the currency exists to maintain the protocol.”

A great interview to read.

I am VERY excited about Ethereum, given the amazing pace of development. If my VC investment days have taught me something, seeing a project with this sort of public interest + quality fast code shipping, it’s not going to slow down any time soon.

Vitalik shares his top-three priorities for Ethereum’s development at the moment:
- PoS
- Scalability
- Privacy

🚀

Decentralizing Everything with Ethereum’s Vitalik Buterin | Disrupt SF 2017

25 minutes of Naval interviewing Vitalik.

Amazing background watching.

YC wants to let people invest in its startups through the blockchain

The title is a bit misleading, but Sam is apparently admitting to YC having done work to figure out its approach to ICOs.

In the last YC batch there were only 2 blockchain companies, but that might change with the next one.

We’ll keep an eye out.

An Alleged Ethereum Hacker Gave Back $3 Million And Nobody Knows Why

Well this is a weird one. Remember that CoinDash hack? (Where a bunch of people even suggested that it was an inside job..)

Apparently the hacker just sent back around $3M worth of Ether they stole form Coindash / to Coindash.

I don’t have any mental energy or cycles to spend on this one, so just presenting it like it is.

Announcing Ethereum & Litecoin vaults — Coinbase

FINALLY. This is my #1 favorite feature of Coinbase, but was only available for Bitcoin until this new release.

If you don’t have a hardware wallet, this is what you should be using.

Guide: Coin recovery tool — TREZOR

Every time someone improves on the UX of crypto usage, it’s awesome news.

In this case, Trezor has released some tools to enable the recovery of most erroneous transactions (when you send coins from specific chains to wrong chains or badly formatted addresses).

🚨 Growing pains

The FCA has spoken on ICOs

The UK Financial Conduct Authority (FCA) issued a brief statement warning consumers about the risks involved in ICOs, stating how some ICOs “fall outside the regulated space”, some don’t. Notable difference with US security law is that the UK does not have an equivalent to the Howey test.

On that note, if you are into security law and can bear with Preston Byrne’s marmot jokes, he’s meticulously dissected the FCA announcement here from the perspective on an English lawyer.

Of all the major regulators who have expressed views, the UK FCA appears to have taken the most light touch approach so far.

🤡 ICO Madness

Raiden ICO: Ethereum Scaling Solution to Launch Publicly Traded Token

“Ethereum’s answer to bitcoin’s Lightning Network will have one notable difference — a publicly traded token to be sold in a Dutch auction in October.”

This is a big disappointment for me, as I was really hoping that Raiden would launch without a token and bring Lightning-like capabilities to the Ethereum chain.

Too hard to ignore the millions flying around obviously.

Announcing the SpankChain ICO

I’ll try to not trigger the spam filters here, article is SFW, site is not.

Crypto bubble fears grow as Jamie Foxx, celebrities jump aboard

We’ve spoken about this before, but hopefully peak ICO is almost around the corner.

We wouldn’t be surprised if some of these celebrities are going to end up being prosecuted for the promotion of unregistered securities, insider trading, bribes and so on, as they most likely are receiving both cash and tokens, which they have an incentive to help appreciate in value.

🍿

Is There a Cryptocurrency Bubble? Just Ask Doge. — The New York Times

The NYT interviews the creator of Dogecoin, which has been sounding the alarm for a while now.

Blackmoon Crypto raises $20 million in ICO in 1 day, and $10M in pre-sale

The Blackmoon Crypto platform touts itself as “a one-stop solution for asset managers to create and manage legally-compliant tokenized funds”

😎 Cool new projects

FreeSociety

Roger Ver and a bunch of early Bitcoin millionaires (billionaires?) are planning to buy land and sovereignty over that land from a country. They have more than $100M, which they plan to offer to highly indebted countries to form a “new Monaco” of sorts. It needs to be in a safe zone and be accessible by water.

Libertarians at it again.

I was enamored with the Seasteading Institute efforts, but I’ve also grown more interested and appreciative of the roles that nation states play in our lives.

That being said, I’m all for experimentation in government and monetary policy, so I’m extremely excited by this!

I’m also pretty sure that we might be looking at another ICO here.. but hopefully they’ll just adopt Bitcoin as the national currency instead.

The Ocean Protocol

BigchainDB, in partnership with Dex, unveiled the concept behind the Ocean Protocol, the natural evolution of their work on blockchain + AI.

Ocean will be a protocol and network to facilitate data marketplaces. The protocol will have the role of figuring out who owns what and provide the linking infrastructure.

Data marketplaces have been a pretty obvious idea since the beginning of blockchain and smart contract technologies, so it’s exciting to see more people try to implement them.

Ocean will probably go on to compete with the Enigma network from MIT’s Media Lab.

Harvest — Wind energy used to mine cryptocurrency to fund climate research

“Harvest” is a piece of tech-art commissioned by the Konstmuseet i Skövde museum that uses wind energy to power a computer, connected to the internet via satellite or 4G and geared with an Nvidia graphics card, to mine Zcash. The earnings will fund for climate-change research.

The interesting aspect of this experiment is that crypto currency offers an alternative and decentralised way to ‘store’ energy without relying on a centralised grid and the fees typically incurred in transferring energy to it.

Announcing Balanc3: Quickbooks for Token Launches

Balanc3 — a ConsenSys formation — has been working in stealth for over a year to build out a blockchain-based accounting platform.

Super cool. They take live blockchain transaction data and turn it into accounting style data.
Sounds like the worst possible job to me, but really glad someone is doing it — I’m sure this will be massively useful to a number of projects in the future.

Ripio

RIpio is building a global credit network solution that aims to enhance transparency and reliability in credit and lending

😤 First they ignore you, then they laugh at you, then…

ECB’s Constancio compares Bitcoin to Dutch tulip mania

“Bitcoin is not a currency but a mere instrument of speculation”. “Bitcoin is sort of a tulip”.

They just don’t know when to stop the broken record do they?

Stay Away from Bitcoin, It’s an ‘Absolute Bubble’ Says Hathaway

This is just a gem to be added to the Bitcoin Obituaries, and I think we’ll be watching this again and again in a few years.

It’s still fascinating how some people just. do. not. get. it. and feel confident in dismissing the whole asset class and tech movement.

I just hope I’ll never end up making such comments about new technologies when I’m all grown up. Chances are slim unfortunately 😂

Russian Governor Invites Cryptocurrency Miners to Set Up Mining Farms in Leningrad

The regulatory and geopolitical wars (protocolitics as Yannick coined them) continue!
The Russian Leningrad region wants to create an industrial park for cryptocurrency mining including bitcoin.
They are promising cheap energy and some special conditions, to try and attract maybe even some of the Chinese operators.

JPMorgan Chase boss Jamie Dimon faces market abuse report after his comments about bitcoin

Fun times!

Blockswater, an algorithmic liquidity provider, has filed a market abuse report against Jamie Dimon for “spreading false and misleading information” about bitcoin with the Swedish Financial Supervisory Authority.

They say Dimon violated Article 12 of the European Union’s Market Abuse Regulation (MAR) by declaring that cryptocurrency bitcoin was “a fraud”.

They also say that JPM traded BTC derivatives in Stockholm, so they might actually have a real case.

The SEC Got Hacked, Took A Year To Learn People Might’ve Traded On It, Disclosed These Facts Parenthetically In A Bizarre Statement, And Wants Companies To Do None Of These Things

On the internet, everyone gets hacked.

🤑 VC corner

Balderton leads $9 million Series B in Luno

We humbly admit we had not come across Luno before, and praise Nicolas Debock from Balderton for keeping his lips sealed about it at the Venture Retreat last weekend…

The play here is the global mass market adoption of crypto and the need for user friendly front ends for fiat to enter the ecosystem.

💰 New funds

Linda Xie leaves Coinbase to start a yet unnamed crypto-fund

Coinbase spins out crypto fund managers faster than it resolves support tickets.

After Nick Tomaino (1Confirmation) and Olaf Carlson-Wee (Polychain), Linda, former product manager, and Jordan Clifford, software engineer, join forces in yet another crypto hedge fund endeavour.

Steven McKie leaves Purse to start crypto hybrid hedge/venture fund Amentum

Author of Blockchannel podcast and former head of growth at Purse and more recently decentralised-Quora Cent.co, Steven McKie is teaming up with three other partners with a new crypto fund endeavour. Focus will be on public crypto assets as well as ICO pre-sales, with no info yet on fund size and other other GPs.

Steven is a true crypto-native so we very much look forward to finding out more about what he’s been cooking up, we hope it’s not just about muscling in on pre-sale discounts and buy & hold ETH/BTC!

More info soon, we are promised.

ℹ️ About us

Token Economy is written and curated by Stefano Bernardi and Yannick Roux.

If you’re building a new fundamental piece of technology for the future, please reach out 🤙

Apartments in Turkey Available for Purchase Using Bitcoin – Bitcoin News (press release)


Bitcoin News (press release)

Apartments in Turkey Available for Purchase Using Bitcoin
Bitcoin News (press release)
The owner of the MiaVita Beytepe project in Ankara, Turkey, has announced that its luxury apartments are available for purchase using bitcoin. The apartments are expected to comprise the first real estate transactions to be made using cryptocurrency in ...

and more »

VERIF-Y adalah pelopor dalam pembuatan dan pengelolaan pengguna dan identitas digital secara aman.

VERIF-Y adalah pelopor dalam pembuatan dan pengelolaan pengguna dan identitas digital secara aman. Platform verif-y memungkinkan untuk proses verifikasi identitas digital secara dan aman.
Verif-y mempersilahkan kepada anda untuk pembuatan secara individu, hub digital sangat aman dari latar belakang anda dan dapat di akses ke perangkat anda di saat itu juga.

Verif-y menggunakan metodologi Next-Generation Defense-in-Depth untuk mendukung dan memastikan validasi end-to-end pertama di bidang pendidikan, pekerjaan, lisensi, sertifikasi dan kepercayaan keanggotaan dan identitas digital yang dihasilkan. Kekuatan identitas digital yang dihasilkan oleh proses Verif-y tinggi, mengingat identitas itu dihasilkan secara organik — terdiri dari data identifikasi unik, disimpan di blockchain dan menghasilkan paradigma baru untuk menyimpan dan mengakses PII secara aman. Identitas digital baru ini kemudian dapat digunakan untuk tujuan identifikasi di luar pasar ketenagakerjaan dan pendidikan, seperti otentikasi login online, identifikasi formal (ID), akses fisik dan banyak lagi aplikasi.
Aplikasi Verif-y dan platform pendukungnya telah berjalan sejak April 2017 dan tersedia untuk diunduh di perangkat iOS dan Android.
Karena identitas adalah salah satu pilar implementasi blockchain yang sukses dan ada di mana-mana di banyak industri, solusi identitas Verif-y yang sangat kuat dan terdiferensiasi dapat menjadi bagian penting dari transformasi fundamental global ini.

Seiring berjalannya waktu melalui kehidupan kita, kita terus-menerus menghadapi situasi di mana kita perlu memberikan informasi tentang sejarah kita. Kami menyadari bahwa cerita ini biasa dilakukan oleh semua orang yang mencari pekerjaan, berlaku untuk pembiayaan atau kebutuhan untuk membuktikan status pekerjaan mereka. Kami juga menyadari bahwa sebagian besar informasi yang digunakan untuk mengevaluasi keaslian keuangan, pekerjaan atau kredensial kami tidak berada dalam kendali kami. Verif-y diciptakan untuk mengubahnya — kami ingin pengguna memiliki informasi mereka dan memutuskan siapa yang dapat melihatnya.
Verif-y berkomitmen untuk memastikan integritas data dan keamanan serta privasi pengguna kami.
Beberapa fitur keamanan kami meliputi:
Autentikasi multi faktor
Sambungan Socket Layer aman (SSL)
Enkripsi dokumen dan teknologi integritas
24 jam dimonitor keamanan fisik
Deteksi gangguan
Teknologi Blockchain Terpadu

Platform Verif-y menerima upload kredensial terverifikasi dari lembaga pemberi penghargaan dan menempatkannya di gudang pengguna yang sesuai. Pengguna mengontrol siapa yang dapat melihat kredensial terverifikasi mereka dan menentukan bagian repositori mana yang akan tersedia.
Mengapa menggunakan Verif-y?
Verif-y memberi individu keunggulan kompetitif di pasar kerja, karena pengguna dapat memberikan kredensial dan riwayat pekerjaan mereka yang diverifikasi secara independen langsung ke pemohon kredensial, seketika dan aman.

Token

40% token akan tersedia untuk pendanaan ICO
25% token di gunakan untuk pemasaran, adopsi dan promosi
35% token akan di simpan dan di gunakan di masa depan.
dari persentasi token yang di gunakan di masa depan (35%) akan di bagi menjadi 3 bagian.
20% akan tersedia saat ini
40% akan di kunci selama 12 bulan
40% akan di kunci selama 24 bulan

Pre-Sale di mulai pada tanggal 14 September 2017
Crowdsale di mulai pada tanggal 5 Oktober 2017

Team

Penasehat

informasi lebih lanjut

Whitepaper : http://www.verif-y.io/vfy-white-paper-1.0.pdf
Email : information@verif-y.io
Telegram : https://t.me/VFY_TOKEN
Facebook : https://www.facebook.com/VerifyInc
Twitter : https://twitter.com/YVerif
Discord : https://discordapp.com/channels/354707646802165760/354707646802165761
Slack : https://verif-yworkspace.slack.com/messages/@slackbot
Linkedin : https://www.linkedin.com/company-beta/10299069
Youtube : https://www.youtube.com/channel/UCSOKTOvp02uSGEuaTBkiaug/videos
Thread resmi : https://bitcointalk.org/index.php?topic=2177914.0
Thread bounty : https://bitcointalk.org/index.php?topic=2181617.0

my profil bitcoin(sabqie) : https://bitcointalk.org/index.php?action=profile;u=1151158

VERIF-Y adalah pelopor dalam pembuatan dan pengelolaan pengguna dan identitas digital secara aman.

VERIF-Y adalah pelopor dalam pembuatan dan pengelolaan pengguna dan identitas digital secara aman. Platform verif-y memungkinkan untuk proses verifikasi identitas digital secara dan aman.
Verif-y mempersilahkan kepada anda untuk pembuatan secara individu, hub digital sangat aman dari latar belakang anda dan dapat di akses ke perangkat anda di saat itu juga.

Verif-y menggunakan metodologi Next-Generation Defense-in-Depth untuk mendukung dan memastikan validasi end-to-end pertama di bidang pendidikan, pekerjaan, lisensi, sertifikasi dan kepercayaan keanggotaan dan identitas digital yang dihasilkan. Kekuatan identitas digital yang dihasilkan oleh proses Verif-y tinggi, mengingat identitas itu dihasilkan secara organik — terdiri dari data identifikasi unik, disimpan di blockchain dan menghasilkan paradigma baru untuk menyimpan dan mengakses PII secara aman. Identitas digital baru ini kemudian dapat digunakan untuk tujuan identifikasi di luar pasar ketenagakerjaan dan pendidikan, seperti otentikasi login online, identifikasi formal (ID), akses fisik dan banyak lagi aplikasi.
Aplikasi Verif-y dan platform pendukungnya telah berjalan sejak April 2017 dan tersedia untuk diunduh di perangkat iOS dan Android.
Karena identitas adalah salah satu pilar implementasi blockchain yang sukses dan ada di mana-mana di banyak industri, solusi identitas Verif-y yang sangat kuat dan terdiferensiasi dapat menjadi bagian penting dari transformasi fundamental global ini.

Seiring berjalannya waktu melalui kehidupan kita, kita terus-menerus menghadapi situasi di mana kita perlu memberikan informasi tentang sejarah kita. Kami menyadari bahwa cerita ini biasa dilakukan oleh semua orang yang mencari pekerjaan, berlaku untuk pembiayaan atau kebutuhan untuk membuktikan status pekerjaan mereka. Kami juga menyadari bahwa sebagian besar informasi yang digunakan untuk mengevaluasi keaslian keuangan, pekerjaan atau kredensial kami tidak berada dalam kendali kami. Verif-y diciptakan untuk mengubahnya — kami ingin pengguna memiliki informasi mereka dan memutuskan siapa yang dapat melihatnya.
Verif-y berkomitmen untuk memastikan integritas data dan keamanan serta privasi pengguna kami.
Beberapa fitur keamanan kami meliputi:
Autentikasi multi faktor
Sambungan Socket Layer aman (SSL)
Enkripsi dokumen dan teknologi integritas
24 jam dimonitor keamanan fisik
Deteksi gangguan
Teknologi Blockchain Terpadu

Platform Verif-y menerima upload kredensial terverifikasi dari lembaga pemberi penghargaan dan menempatkannya di gudang pengguna yang sesuai. Pengguna mengontrol siapa yang dapat melihat kredensial terverifikasi mereka dan menentukan bagian repositori mana yang akan tersedia.
Mengapa menggunakan Verif-y?
Verif-y memberi individu keunggulan kompetitif di pasar kerja, karena pengguna dapat memberikan kredensial dan riwayat pekerjaan mereka yang diverifikasi secara independen langsung ke pemohon kredensial, seketika dan aman.

Token

40% token akan tersedia untuk pendanaan ICO
25% token di gunakan untuk pemasaran, adopsi dan promosi
35% token akan di simpan dan di gunakan di masa depan.
dari persentasi token yang di gunakan di masa depan (35%) akan di bagi menjadi 3 bagian.
20% akan tersedia saat ini
40% akan di kunci selama 12 bulan
40% akan di kunci selama 24 bulan

Pre-Sale di mulai pada tanggal 14 September 2017
Crowdsale di mulai pada tanggal 5 Oktober 2017

Team

Penasehat

informasi lebih lanjut

Whitepaper : http://www.verif-y.io/vfy-white-paper-1.0.pdf
Email : information@verif-y.io
Telegram : https://t.me/VFY_TOKEN
Facebook : https://www.facebook.com/VerifyInc
Twitter : https://twitter.com/YVerif
Discord : https://discordapp.com/channels/354707646802165760/354707646802165761
Slack : https://verif-yworkspace.slack.com/messages/@slackbot
Linkedin : https://www.linkedin.com/company-beta/10299069
Youtube : https://www.youtube.com/channel/UCSOKTOvp02uSGEuaTBkiaug/videos
Thread resmi : https://bitcointalk.org/index.php?topic=2177914.0
Thread bounty : https://bitcointalk.org/index.php?topic=2181617.0

my profil bitcoin(sabqie) : https://bitcointalk.org/index.php?action=profile;u=1151158