Category Archives: Money

Daily technical analysis: IOTA — October 12 (IOTA/BTC)

CoinCheckup Technical Analysis

In order to support you and the crypto community with trading decisions, CoinCheckup is serving you with Daily Technical analysis updates for IOTA & other Cryptocurrencies.

Note that this report is written on: Oct 12, 2017 03:46AM GMT

Technical Summary IOTA: STRONG SELL

Moving Averages: 1 BUY / 11 SELL | Technical Indicators: 1 BUY / 7 SELL

IOTA 24 hour Technical Indicators

What is are these indicators (click for more info):RSI, STOCH, STOCHRSI, MACD, ADX, Williams %R, CCI, ATR, Ultimate Oscillator, ROC, Bull/Bear Power

IOTA’s Moving Average indicators

What is “moving average” (more info)?

IOTA’s Background, Fundamentals, Investment stats & Long-term indicators

Thanks for reading!

Feel free to share your thoughts, feedback, and suggestions in the comments below. If you like this article share it on social and with your friends! :-)Subscribe and stay tuned for daily updates!You can also get in touch with the CoinCheckup for Feedback or new features you would like to see on the CoinCheckup website.

CoinCheckup | Crypto Market Analysis, Predictions & Investment stats

Disclaimer: Trading and investing in digital assets is highly speculative and comes with many risks. The analysis & stats from CoinCheckup are for informational purposes and should not be considered investment advice. Statements and financial information on CoinCheckup.com should not be construed as an endorsement or recommendation to buy, sell or hold. Please do your own research on all of your investments carefully. Technical analysis stats are out of date the moment we post them. Scores on CoinCheckup are based on common sense Formulas that we personally use to analyse crypto coins & tokens. We’ll open source these formulas soon. Past performance is not necessarily indicative of future results. [Read the full disclaimer here]

Daily technical analysis: Monero — October 12 (Monero/USD)

CoinCheckup Technical Analysis

In order to support you and the crypto community with trading decisions, CoinCheckup is serving you with Daily Technical analysis updates for Monero & other Cryptocurrencies.

Note that this report is written on: Oct 12, 2017 03:53AM GMT

Technical Summary Monero: STRONG SELL

Moving Averages: 5 BUY / 7 SELL | Technical Indicators: 0 BUY / 11 SELL

Monero 24 hour Technical Indicators

What is are these indicators (click for more info):RSI, STOCH, STOCHRSI, MACD, ADX, Williams %R, CCI, ATR, Ultimate Oscillator, ROC, Bull/Bear Power

Monero’s Moving Average indicators

What is “moving average” (more info)?

Monero’s Background, Fundamentals, Investment stats & Long-term indicators

Thanks for reading!

Feel free to share your thoughts, feedback, and suggestions in the comments below. If you like this article share it on social and with your friends! :-)Subscribe and stay tuned for daily updates!You can also get in touch with the CoinCheckup for Feedback or new features you would like to see on the CoinCheckup website.

CoinCheckup | Crypto Market Analysis, Predictions & Investment stats

Disclaimer: Trading and investing in digital assets is highly speculative and comes with many risks. The analysis & stats from CoinCheckup are for informational purposes and should not be considered investment advice. Statements and financial information on CoinCheckup.com should not be construed as an endorsement or recommendation to buy, sell or hold. Please do your own research on all of your investments carefully. Technical analysis stats are out of date the moment we post them. Scores on CoinCheckup are based on common sense Formulas that we personally use to analyse crypto coins & tokens. We’ll open source these formulas soon. Past performance is not necessarily indicative of future results. [Read the full disclaimer here]

Distributed Funds FAQs

If you’d like to see any more questions included on the list, please email hi[at]distributedfunds.com. Thanks!

Q: What is Distributed Funds?
A:
Distributed Funds is a digital currency portfolio management website. It will make selecting, purchasing, and managing your digital currency portfolio simple and safe.

Q: Can I use the application yet?
A:
Not yet. We are still in development but are excited to launch this application to people in 2018!

Q: Does distributed funds plan to operate an exchange?
A: In the short term, we do not plan to operate an exchange. Instead, we are building the product on top of existing exchanges and setting orders via exchange APIs. This allows us to leverage multiple markets and get the best prices for our customers. Long term, we’d love to see decentralized exchanges mature and become usable by companies like Distributed Funds.

Q: How is Distributed Funds going to make money?
A: We plan to offer a comprehensive set of features for all free users. This will include the ability to deposit funds, pick a portfolio allocation, invest, and withdraw at will. We plan to make money by offering premium features at a cost to investors. This could include fees for instant deposit, tax advice, and managed portfolios. Additionally, we plan to charge small transaction fees when purchasing digital currency for all users.

Q: Are you going to open source any of your code?
A: This is definitely a long term goal for the company. At the launch, we probably won’t have open sourced any code because this adds significant time and cost overhead to the development process. But long term, we plan to open source wallet code in order to give back to the community and benefit from public security audits.

Q: Is there going to be any difference between funding my account with U.S. Dollars or Bitcoin?
A: When funding with U.S. Dollars, there will be some extra “Know Your Customer” requirements that all U.S. banks have to comply with. It will also be slightly slower than funding with Bitcoin. After all, that’s the promise of cryptocurrency: fast money transfers.

Q: Who is involved in the project?
A: We are choosing to stay anonymous for now. But we are U.S. citizens currently working in the finance and technology sectors in the U.S. We aren’t well known in the Bitcoin or finance scenes, so you wouldn’t necessarily know who we are. We will reveal ourselves before product launch.

Q: Will you recommend any investment strategies?
A:
Providing financial advice is not something we will do immediately due to the extra regulatory overhead it requires. However, this could eventually be a service that Distributed Funds offers.

Q: How are you planning to secure customer funds?
A:
We are taking this aspect of the software *extremely* seriously. All customer funds will be placed in offline storage by default. There are some logistical challenges with this approach, but we firmly believe that it is worth the trouble. This means that users will have to opt-in to online storage which might be preferable for someone who likes to withdraw money quickly. Additionally, we will require 2-factor authentication and the ability to opt-into a more secure withdrawal process where users must prove their identity in order to withdraw funds.

Q: What is offline storage, or a “cold wallet”?
A: Offline storage means generating private keys and wallet addresses on computers that are not connected to the internet. This is one of the most secure ways to secure cryptocurrency.

Q: What is online storage, or a “hot wallet”?
A:
A online storage, or a “hot wallet” is a wallet on a computer connected to the internet. It is easy to quickly spend cryptocurrency using a hot wallet, but the downside is it’s easier for hackers to obtain these funds.


Distributed Funds FAQs was originally published in Distributed Funds on Medium, where people are continuing the conversation by highlighting and responding to this story.

Distributed Funds FAQs

If you’d like to see any more questions included on the list, please email hi[at]distributedfunds.com. Thanks!

Q: What is Distributed Funds?
A:
Distributed Funds is a digital currency portfolio management website. It will make selecting, purchasing, and managing your digital currency portfolio simple and safe.

Q: Can I use the application yet?
A:
Not yet. We are still in development but are excited to launch this application to people in 2018!

Q: Does distributed funds plan to operate an exchange?
A: In the short term, we do not plan to operate an exchange. Instead, we are building the product on top of existing exchanges and setting orders via exchange APIs. This allows us to leverage multiple markets and get the best prices for our customers. Long term, we’d love to see decentralized exchanges mature and become usable by companies like Distributed Funds.

Q: How is Distributed Funds going to make money?
A: We plan to offer a comprehensive set of features for all free users. This will include the ability to deposit funds, pick a portfolio allocation, invest, and withdraw at will. We plan to make money by offering premium features at a cost to investors. This could include fees for instant deposit, tax advice, and managed portfolios. Additionally, we plan to charge small transaction fees when purchasing digital currency for all users.

Q: Are you going to open source any of your code?
A: This is definitely a long term goal for the company. At the launch, we probably won’t have open sourced any code because this adds significant time and cost overhead to the development process. But long term, we plan to open source wallet code in order to give back to the community and benefit from public security audits.

Q: Is there going to be any difference between funding my account with U.S. Dollars or Bitcoin?
A: When funding with U.S. Dollars, there will be some extra “Know Your Customer” requirements that all U.S. banks have to comply with. It will also be slightly slower than funding with Bitcoin. After all, that’s the promise of cryptocurrency: fast money transfers.

Q: Who is involved in the project?
A: We are choosing to stay anonymous for now. But we are U.S. citizens currently working in the finance and technology sectors in the U.S. We aren’t well known in the Bitcoin or finance scenes, so you wouldn’t necessarily know who we are. We will reveal ourselves before product launch.

Q: Will you recommend any investment strategies?
A:
Providing financial advice is not something we will do immediately due to the extra regulatory overhead it requires. However, this could eventually be a service that Distributed Funds offers.

Q: How are you planning to secure customer funds?
A:
We are taking this aspect of the software *extremely* seriously. All customer funds will be placed in offline storage by default. There are some logistical challenges with this approach, but we firmly believe that it is worth the trouble. This means that users will have to opt-in to online storage which might be preferable for someone who likes to withdraw money quickly. Additionally, we will require 2-factor authentication and the ability to opt-into a more secure withdrawal process where users must prove their identity in order to withdraw funds.

Q: What is offline storage, or a “cold wallet”?
A: Offline storage means generating private keys and wallet addresses on computers that are not connected to the internet. This is one of the most secure ways to secure cryptocurrency.

Q: What is online storage, or a “hot wallet”?
A:
A online storage, or a “hot wallet” is a wallet on a computer connected to the internet. It is easy to quickly spend cryptocurrency using a hot wallet, but the downside is it’s easier for hackers to obtain these funds.


Distributed Funds FAQs was originally published in Distributed Funds on Medium, where people are continuing the conversation by highlighting and responding to this story.

Obtén 16% de descuento en Amazon a través de AirTM

AirTM es una cartera electrónica denominada en dólares que te permite usar tus bitcoins, dólares en cuenta de banco americana para comprar Tarjetas de Regalo Amazon con mucho descuento.

— ¿Cómo?

Convirtiéndote en cajero de AirTM puedes depositar a cuenta de dólares en AirTM usando bitcoin o un banco americano e intercambiarlo por Tarjetas de Regalo Amazon con un increíble descuento que son canjeables en amazon.com/gc/redeem.

No hay límites ya que tenemos mucho flujo de clientes de todo el mundo que quieren intercambiar sus Tarjetas de Regalo Amazon por dólares en AirTM, tu los ayudarías a liberar ese dinero atrapado ganando el 16% en cada transacción.

Estas personas suelen ser freelancers y gente que trabaja en sitios en internet como PTC y que reciben sus pagos en Tarjetas de Regalo Amazon, sin embargo en los países en vías de desarrollo canjear estas tarjetas de regalo es demasiado difícil y ellos necesitan el dinero en su cuenta de banco para poder comprar cosas básicas.

A parte, para muchos personas en estos países es imposible que Amazon les envíe sus compras ya que no hay empresas que trasladen a estos lugares, por lo que se quedan con este dinero atrapado.

Por conectar a personas que tienen dinero atrapado en tarjetas de regalo Amazon con personas que constantemente hacen compras en Amazon, AirTM ayuda a esta gente a liberar su dinero atrapado, ellos reciben dólares a su cuenta AirTM y después retiran a su cuenta banco local.

Siendo un cajero de AirTM que completa depósitos de Tarjetas de Regalo Amazon, te estás ahorrando más de 15% en cada compra que hagas, teniendo acceso a crédito en Uber, Airbnb, Wholefoods entre muchas otras cosas. También, estás ayunado a los trabajadores independientes viviendo en países en vías de desarrollo a tener acceso a dinero que tienen atrapado.

¿Estas interesado en ser cajero de AirTM para intercambiar tus bitcoins o dólares por crédito en Amazon con descuento?

Por favor sigue los siguiente pasos para empezar a usar tus bitcoins para obtener 16% de descuento en Amazon:

1 — Haz click en el botón para hacerte una cuenta en AirTM. Este link es para asegurar que el proceso sea lo más rápido posible.

2 — Ingresa a tu cuenta AirTM y selecciona la opción t ‘Convertirme en cajero AirTM’ > ‘Cajero de transferencia electrónica’.

3 — Llena la aplicación para ser cajero y envíala. Recuerda que debe ingresar “Amazon” en el area de texto de transferencia con métodos electrónicos.

3 — Espera a ser aceptado. Normalmente tarda un día hábil.

4 — . Una vez aceptado, completa tu perfil de cajero y configura para aceptar Amazon Gift Card en el menú de transferencias electrónicas agregando tu correo electrónico al que quieras recibir los códigos de Amazon.

5— Empezarás a ver reflejado solicitudes de depósito de Amazon de clientes. Esto puede tardar algunos minutos.

7 — Mientras, haz un depósito a tu cuenta AirTM enviando bitcoin a través de tu dirección de bitcoin en la parte izquierda del tablero.

Si no tienes bitcoin también puedes hacerlo a través de una transferencia bancaria de un un banco en los Estados Unidos (en la sección de “Agregar fondos”). Una vez que tengas dinero en tu cuenta AirTM, puedes empezar a aceptar solicitudes de clientes que quieran depositar Tarjetas de Regalo Amazon. Tu las compararás con descuento y después canjearlas en amazon.com/gc/redeem.

Después de aceptar un depósito, tus dólares AirTM serán guardados en un fideicomiso que te asegurará que vas a recibir el código de Amazon antes de enviar el dinero. Hasta que tú no confirmes que el código funciona, tus dólares no serán liberados. Es 100% seguro. Por favor sigue las instrucciones de la transacción.

¡Felices compras!

The AirTeaM.

¿Necesitas ayuda? Nos complacerá contestar cualquier pregunta. Envíanos un correo a support@airtm.io. Nuestro increíble equipo de soporte podrá ayudarle.

A well written explanation of what Bitcoin is. Well done.

A well written explanation of what Bitcoin is. Well done.

My criticisms are similar to Ben’s, though I think the key point is that your entire assessment that Bitcoin is not money comes down to: “It is new.”

If you can see past that fact (and actually realise that its adoption rate and global penetration is quite amazing), you will see how it absolutely stands up as the best form of money ever created.

The Bitcoin network is currently completely incapable of handling high numbers of transactions per second.

Yes, just as the Internet was once able to handle a very low volume of JPGs downloaded per minute. All new technologies require a development phase. The rate of development of Bitcoin has been much faster than the development of any other currency in history, and has survived numerous tests already.

Segwit and the Lightning network are already under development to solve the transaction rate issues and lower the cost per transaction. We will have an answer on this question within years, easily, and this objection will no longer exist.

Maybe it still won’t compare to the VISA network (maybe it will, but lets assume it doesn’t) — what makes the Bitcoin system so amazing is that it works on all levels. VISA is handy for buying coffee — but not so good for sending a million dollars overseas. Bitcoin however is perfectly suited for sending any large amount of money anywhere in the world for next to nothing.

As a contrasting point, Gold is good for sending large sums of money across the world, but useless for buying a cup of coffee. However, what is the transactional rate of Gold transfers between countries? On this level, Bitcoin has a far superior transaction rate vs Gold.

When Bitcoin can compete on transaction rates and fees at all levels (micro payments, macro payments and massive payments), what then?

And why is Bitcoin and Bitcoin alone the only currency which is expected to perform better than all other forms of currency and transactional methods at all times, and do so within the first decade of its creation?

“Bitcoin’s value has not been tested through time and it has no intrinsic value”

Yes, more time is needed to establish its value and smooth out its volatility. But we are already seeing that happen. As the technology continues to improve, and macro payments become faster and cheaper, and further commercial adoption is seen, the price will continue to rise, and the volatility will continue to reduce.

However it will likely never disappear, because Bitcoin is deflationary by nature (something you seem to have overlooked in your article, now that I think of it), and deflationary currencies are not stable. (Yanis Varoufakis has a strong critique of Bitcoin on that front.)

This is why it is best to think of Bitcoin primarily as your savings account. You sometimes spend from your savings account, but more often than not, you don’t.

Bitcoin is where you store your extra money, while Fiat is what you use to pay daily expenses. Simon Dixon explains this better than anyone, IMO.

But on to the second half of your sentence:

and it has no intrinsic value

Oh, but it does.

What other currency does your accounting for you?

What other store of value takes up zero space, weighs nothing, and is globally transactable?

To pretend that “Money”, as a concept, in all of its functionality in society has no intrinsic value is to ignore the fact that money has been absolutely central to the success of our society!

Yes, paper money has no intrinsic value — but we make it, because money, the concept has value to society. It facilitates trade, allows accounting etc All that you said above. But managing all of those functions around the creation of paper money is incredibly challenging.

The fact that a single piece of distributed code could replace the machinations of thousands of people who work in federal reserves, banks, third party intermediary organisations, and large important sections of the Government who oversea fiscal policy… is just absolutely mind blowing.

Bitcoin’s intrinsic value is a social value. It is an accounting value.

It is, actually, as close to perfect money as we have ever been able to create. And that is no small feat.

From Centralized to Decentralized

With humanity, there aren’t so much bad people but more bad systems. One of the worst parts of our current human operating system, is how centralized many things are. So in our current cycle of coming out of a bottom barrel state of the deep timeline of humanity we have been awash in centralized systems. Meaning systems of power which are controlled by the few in a centralized way. Gatekeepers of power rely on having structures of control to continue their opaqueness; unaccountability, corruption, inefficiency, nepotism, and stagnation. This has been going on for thousands of years and it has been no different in the last century with our corporations, banks, and governments. Otherwise known as corporatized governments controlled by the bankers. Since the dawn of the internet and world wide web, this has gotten better through net neutrality allowing anyone with access more of a voice, it’s also been beautiful at forcing sliminess from the past to go, such as gatekeeper record industry labels who use to charge $18 for you to listen to music on a compact disk, to adjust their ways, by force, as the gates have been dissolved by file sharing. Even with the internet era, there are plenty of gatekeepers, such as Apple, Google, Amazon, Facebook, as well as YouTube. Another wing of the Googlepus. Youtube, A tech company ,has ultimate control of their system, as an ad revenue a creator controlled by the few at the top of the centralized corporatized hierarchy. But centralized corporatized hierarchies create jobs you say, well sure, but that’s within the mainstream robotic culture of empire which is not fulfilling to the natural human who should be in nature, living in tune with the land, organic farming, relaxing, and creating art in small villages by day ingesting tryptamines around the stone dolmans uploading to astral dimensions to expand their consciousness by night.

Now, when you upload digital content to social platforms, they get to make the vast majority of the ad revenue. Facebook is another one, where you have to pay their shitty narrow aspect system to get more interest and eyeballs on your material. You are David and these systems are goliath and its backwards because you create the content and then get measly compensation at best or have to pay them at worst. And it should be the other way around where you are compensated based on the value of what you create and share with others.

One of the main fractal backs to centralization of awfulness is money. Which on one level is just a measure of energy when it’s done right, but on another it’s a spell used to reduce and control and the root of all evil. Fiat unbacked by anything paper money is the king of centralization. Since the late night christmas eve skulduggery of congress in 1933 the federal reserve act was passed. Creating a centralized location of nefariousness called the federal reserve. What it does is tightly lockdown the control of the US dollar through inflation and deflation and essentially prints money out of thin air for bankers pleasures. With rooms of small centralized un-honorable tales from the crypt Crypt-keepers controlling it. The Federal Reserve is a private banking cartel who is not federal nor does it have any reserves. It sucks 36 million dollars an hour off the current horrible system and Rockefeller was one of the original investors and JFK had the back of his skull blown out because he dare suggested it be abolished.

What money really has become is a whole other story which entire documentaries have been made off of and will be further discussed in later chats here. The cliff notes version summary is, since the Financial Services Modernization Act of the late 90’s which, abolished key parts of the Glass-Steagall Act, there has been a dissolution of the separation of commercial banking from investment banking. Now resulting in nearly all commercial and investment banking institutions being systemically corrupt up to all the highest levels with the wall street investment banks being purely parasitic with behavior leading to ongoing situations such as the financial services meltdown of 2008. Many of the ills of which were pointed out beautifully in the slogan “we are the 99%” by occupy wall street because unless we have major corrections to capitalism we are left in a system where less than 1% of the population have the vast majority of the money and some 8 families have half the wealth on the planet. So feudalism never really went away.

In a previous reality tunnel essay I gave hint to a suggestion of humanity “moving onto better systems”. So as an example, after the 2008 crash a little thing called cryptocurrencies were being incubated. Cryptocurrencies are beautiful because they are decentralized, meaning controlled by every node on the network and the larger that network, the less centralized it is and naughty bankers are then obsolete. They are capable of buying into massive amounts of crypto and becoming crypto whales in the network node ocean but them doing so would only add value to that new operating system of money. When you are a part of this system, you store your own digital money in analogue or cold storage so you are responsible for your own actions. So anyone using cryptocurrency is essentially unbanked, which is where we all want to be so we have the power and are not giving it to others. Because over the last 1000+ years amplified by the last 100+ years, whenever things are centralized, systematic corruption runs rampant.

Now cryptocurrencies are actually not the most beautiful part of the decentralized equation. Behind these technologies are a genius operation called the blockchain. Which is a ledger, a recording system, controlled by everyone and no one specifically which allows for full transparency. And many things can be done on top of the blockchain foundation. Further applications can be use for disrupting any industry that has tight control systems in place, such as energy, entertainment, network sharing, agriculture, voting, trade, etc… Imagine a scenario where you provide content and are then paid proportionately for doing so. Or as your internet bandwidth sits ideal all day, you can be paid by the bandwidth you lease out to others who need faster bandwidth at that time. Same with your solar power you generate. You sell it to others directly when not using it. Or imagine a future style decentralized voting system where you have a direct vote on a specific piece of legislation, which is then upvoted reddit style in the community, each with one vote, directly votes on a specific proposed rule thereby we would no longer need representatives who actually don’t really represent. We would have a ocean of direct pier to peer communications and interactions and not be land locked to massive islands of control. So even though all these technologies are just one electromagnetic pulse away from going down and we are still very much in times of extreme polarization, be very happy to be alive in such exciting times.

And that’s just the beginning of what Blockchain type structures are capable of and they have snuck up on the machine which is working really hard to keep a lid on them, but it can not. This type of system is something old paradigm corporations and governments, which really means corporatized governments, have never allowed. So corporatized governments and the status quote have first ignored it, then laughed at it and are now hugely threatened by it. Because Rome is burning.

Since everything in the mainstream reality signal of falsehood is back to front and they don’t want free thinking minds, they want obedient wage slave consumers, you have been conditioned. Because you are suppose to be in abundance and wealth, and there’s no reason you shouldn’t be but instead have been conditioned to 9/5 (more like 8/7) slave jobs to think we need to be in protestant work ethic struggle of centralization all our lives until we die. Which we do not. Not like material wealth equals happiness but it does equal time and ease and we should be freed from our unpleasant jobs to do real fun work which fuels our passions. So I highly highly recommend looking into blockchain technologies and getting involved in it and cryptocurrencies in whatever tiny or large way you can. Think of converting some of your fiat dollars into crypto coins as your protest and public service all in one. The community is really excellent as well. There are hundreds of folks freely sharing information online because sharing is caring.

Power to the people. Power to each individual. Decentralize the world.

EventChain ICO — Pointing to a Tokenised Future

EventChain ICO

EventChain ICO — Pointing to a Tokenised Future

— — — — — — — — — — — — —

DISCLAIMER: I am not any kind of professional in the field of investment, and the contents of my article below should not be considered to be investment advice. Please conduct your own research before making any kind of investment. Thanks.

— — — — — — — — — — — — — — — — — — — — — — — — — — — — — — —

It’s a roller-coaster ride when you jump on the Blockchain band-wagon. For those of you who, like me, have been involved in cryptocurrencies for a few years now (actually, just over two in my case), you feel like you have seen it all.

I won’t go through a run-down of those experiences but I’ll outline some of the events of the last two weeks which have not been untypical. In that short period of time, Bitcoin hit five thousand dollars which seem to have triggered a run of limit price sales that sent it whizzing back down to $4500. In familiar fashion, it recovered to take another hit when the Chinese government declared its formal opposition to ICOs.

Once again, however, the price recovered somewhat until roughly 48 hours ago at which point some whispers once again emerged from China about a government decree to close down local Bitcoin exchanges. Bitcoin is now currently sitting at $4200 — which is, frankly, a solid position relative to its $5000 historical high after what has been a fairly aggressive mauling by the market.

Each time it is the same story — market over-reactions and a series of negative/positive feedback loops that all add to a frenzy of price volatility that partly explains Bitcoin’s lack of mass adoption. But, despite this lack of adoption, I do genuinely believe that Bitcoin and — more significantly — its concept of the Blockchain are about to revolutionise the world we live in, and in ways we are only just beginning to imagine.

It is for that reason that, despite all this frenzy and all the uncertainty involved, that I am on the market to make a series of modest investments in long-term, sustainable Blockchain-inspired projects. And one of those is something referred to as EventChain.

The Concept

In essence, EventChain is a platform for organising events and selling their associated tickets. It is planning to be a kind of Blockchain TicketMaster, I guess — but with a few caveats. Firstly, it exploits the capabilities of the Blockchain to address some of the issues that many of us are familiar with.

As we know, tickets — particularly for large-scale events such as football games and Miley Cyrus concerts (you won’t find me at one of those, just to be clear) tend to be snapped up by a relatively small number of people for resale. The end result is that prices are driven up and, yet, all too often the tickets are not resold anyhow.

You thus have frustrated artists standing in front of rows of empty seats whilst away from the stadium there are thousands of people who would gladly have attended but couldn’t quite bring themselves to fork out the VIP-fee for a back-row seat. Added to this, we’ve seen too many cases of counterfeiting, crashed websites which can’t handle demand overload on their centralised server or — the biggest nightmare of all — people lining up for hours outside a ticket-issue office only to be told that, alas, the tickets have all gone.

With EventChain, all of this is simply a thing of the past due to the very nature of the product they are offering. Thanks to the Blockchain properties of being unhackable (due to Proof-of-Work), transparent (ticket counterfeiting now becomes a thing of the past due to cryptography eliminating double-spend) and distributive (no more crashed servers because there is no single authority in control of the information), we now have the ability to address the recurrent issues that have dogged ticket selling in the Internet era and prior to that.

EventChain Token

So how does it work in practice? Well, as is standard for any ICO (Initial Coin Offering — a play on and derivation of the term IPO, which is used to describe the process by which any company executes a public share issue) you need to read the white-paper. I am not going to cover its contents here — but if, like me, you find yourself regularly doing this kind of thing (which isn’t always particularly fun), you will likely come to the conclusion that the EventChain proposition, in conceptual terms at least, is…bloody interesting.

The EventChain platform will be powered by the EventChain token which users will need to purchase in order to gain access to its services (i.e. to purchase tickets or to organise events). That token will then need to be purchased either with traditional fiat currency (US dollars, say) or another crypto-currency (Bitcoin, Ether and LiteCoin — and likely some others). That means the token should then take on value just like any other commodity.

Naturally, if the idea strikes you as well grounded, then it then simply becomes a matter of execution. Do the people at EventChain have the right team of engineers in place to deliver on the product? And do they have the right marketing strategy to get the word out? Well, it is never really possible to know for sure. But, as part of the ICO process, EventChain have made themselves available to the public. So I was able to ask my own questions in this regard, and I also raised some questions on the back of the white-paper.

The answers I received were timely, re-assuring and complete. So I’m happy enough and went ahead with a 2.5 ETH investment (that was roughly $750 at the time of writing).

What brought me to invest, and what I think will be the clincher for EventChain is its use as a trust platform. Ticket buyers will be able to apply feedback on ticket sellers, event managers and the event itself — the more sketchy characters out there in Event Management Land, then, will find themselves penalised by the community when they provide services that aren’t simply up to scratch.

Once our Darwinian method of Event Management Selection is in place — added to the other advantages outlined above — I think we are essentially now looking at a new TicketMaster. It appears now simply to be a question of time. Naturally, however, only time itself will tell.

Stop investing in ICOs before you verify on bintcointalk

Do not hurry to invest even if “2 hours left to ICO end”

Guys, it’s a quick post caused by the fact it almost hurts me physically to see how much money everyone throws on scam ICOs (some of them are so obviously scammy, that I can’t believe my eyes when I see the numbers of Ether thrown at them… this is madness caused by greed).

For example look at EOS, or Nexus.Social, the projects directly pour your donated money into advertising to gain more money, in an infinite loop. Did anyone stop and think for a moment WHY EOS NEEDS MORE THAN 200 Million dollars and they want to raise even more? (An ICO which will go on for a YEAR). Does it makes sense to someone? You can freaking fly to the moon and bring here alien scientists from another galaxy for this money, not just “develop a new blockchain”.

Cmon, blockchain database (after all it’s just a type of distributed database, slow and not effective for most applications, with limited possible use cases) is just a type of software. How many brilliant developers do you need to develop completely new and rockstar EOS super platform? lets say 50, including testing, QA, office managers, black jack and strippers, ok? add 10 strippers, 60 people.

Full-stack strippers! Talented ones!

Now average salary lets say 200k$ a year (average across all personnel, when some mathematicians and top devs will grab 400k$ and some student testers happy with 50k$). Which is 60 * 200 000$ = 12 million, a year. And it’s a very generous number, given ICO authors will really employ top talent to build their revolutionary blockchain (EOS), and “distributed social network” (nexus.social). And so on…

And EOS collected 181 Million during first day, and are not going to stop, during whole YEAR, they will grab more and more money because now they have unlimited funds to run advertisement and lure more “investors”.

But guess what, EOS is a fork of BitShares (pretty lame project of same authors), and overall is an obvious scam if you dig a bit deeper. Well maybe not a scam of type “grab all money and retire in Thailand” but of type “Grab x100 times more than you actually need to develop, then deliver something and say you did what promised, while keeping all the rest 98% of funds to yourself” (spending about 2% on actual development).

Here’s a topic on bitcointalk about EOS, and you can find many other topics which reveal ICO scams, please do yourself a favor and run a quick search there before you invest in an ICO that looks super-cool and feels like will make you filthy rich in a monthyear. In 2018 of course ICO madness will be over, when every “investor” will realize that after collecting so much money, ICO authors simply lose any interest to DELIVER ANYTHING. If you’ll even get some stuff delivered, it will be far from what was promised, especially in ICOs which collected way too much vs what they realistically need for development.

You see, they have no incentive to work hard and innovate after they collect so much money so easily. There is no board of investors or advisers that will push them towards delivery, no inspections, no regulations, they met no standards like if they did IPO with all regulation and verification from accredited structures and by professionals.

Let me know what you think guys, and for gods sake do some research before spending your Ether on promising project that will make you rich :)

Thanks for your time!

The Fear of Bitcoin

For years, pundits have called for the demise and death of Bitcoin. Many have called this a bubble, a fad, nothing more than a ‘digital mirage’. Why does Bitcoin and cryptocurrency incite so much fear?

Fear The Bitcoin, Fear The Future

To answer that question, we first need to look at those high-profile pundits, who they are, what they have said — and even what they are saying now. My first personal favorite is Peter Schiff. Taking a quote from him in a recent rant — er, I mean interview Peter was quoted as saying:

“The main benefit of bitcoin — the only segment of society where it’s used for something other than speculation — is crime,”

If that statement is not intended to be fear-mongering (and full of ignorance), I simply do not know what is. Peter has also made numerous other ridiculous claims including this gem from his brash interview with Max Keizer “no merchants are pricing their products in bitcoin”. Has he never heard of www.bitpremier.com? Care to explain Dubai and the new condos for sale with bitcoin prices? Looks like those are priced in bitcoin to me. But heck, what do I know. I am living in a bubble, right?

So why would an intelligent businessman make such a false claim? One reason could be fear that Bitcoin will replace gold as the new age store of value — and with Peter being the Chairman of Schiff Gold (and a total gold schill) it’s pretty clear how that line can be connected. So, his views can be explained as such and we in cryptoland have pretty much accepted that. Expect one thing. Read this tweet from Peter on Sept 6th.

Here is my new question (and one I have asked myself for some time) …could Peter be a hidden bitcoin holder? Interesting debate when you stop for a moment. Here is an intelligent man, making seemingly short-sided assertions against bitcoin and then sending a tweet touting both BTC AND Gold as being better than fiat? I could be way off, but seems like Peter has a set of private keys himself. Here is a nice excerpt from the article that can be found on schiffgold.com:

Does this mean you should avoid Bitcoin and other cryptocurrencies completely?
Not necessarily.
Bitcoin has significant upside. BTC and precious metals both offer alternatives to government monopolized fiat currency. They play a similar role as free market, sound money. But as with any financial instrument, there are potential pitfalls. Diversifying your cryptocurrency portfolio with precious metals can help mitigate some of the potential downside and put you in an overall stronger financial position.

So, I think we have explained why the fear spews from Peter’s mouth. We have summed it up as either simple ignorance of bitcoin and a strong passion for gold and his businesses; or just shilling gold while leaving just enough for those that research bitcoin to ignore his words.

Every investor and businessman must (and needs) respect the accomplishments of Warren Buffet. For decades, Warren has made extremely intelligent and well calculated moves and decisions. However, this is one that I cannot disagree more with him on. Warren is missing the point. He likens bitcoin to a check or money order of all things. Only a method to transfer money. Needless to say, the technology is something he is not grasping. As intelligent as he is, Warren has not done his homework on bitcoin, blockchain or cryptocurrency and fails to see the bigger picture. Our world is changing to an all-digital world. Fiat in its current form will die. If it wants to survive the reality is — fiat needs crypto more than crypto needs fiat. And honestly, no single person born this side of the turn of the century as ANY interest in lugging around gold or silver. Technology will win.

Warren Buffet — Everything he has said about Bitcoin

Now, let’s touch on the hundreds of posts and opinions I am consistently sent calling for the ‘banning’ or ‘end’ of bitcoin. The vast majority of the articles and opinion pieces hang on buzz words uttered from the likes of Schiff and Buffet. They lack the research and knowledge required to make and defend intelligent counterarguments to cryptocurrency. All attempt to prove or assume that governments can somehow shutdown a decentralized network run by many but no single person at the same time. Sure, good luck with that one. For those of you that read my blog post Crypto and Blockchain Is a Bubble — But Not the Bubble Experts Think, I made a few strong statements. One of them being:

“No one can control that which cannot be controlled.”

One of my favorite opinion pieces was pointing out how many countries have ‘banned’ crypto. The list being: Bolivia, Ecuador, Bangladesh and Kyrgyzstan. All economic power houses of the world, right? Ok, I will make this clear for us all. Expect any and all 3rd world (or near 3rd world) countries and countries lead by dictators to ban cryptocurrency. Expect all countries known for oppression of their people to do so as well — or at least attempt to place incredible controls around cryptocurrency. But do not use them as the example for which modernized and free 1st world countries will make their banking and financial decisions in the future. Its common sense. Instead let’s look at the meccas of the financial world. Japan now accepts cryptocurrency as a legal form of payment (a recent reversal after intense pressure from banks and retailers alike). Dubai, as mentioned earlier, is now legally selling condos in bitcoin and Canada has recently announced their first legally approved and regualted ICO. In the US, there is now a bill gaining traction to remove any and all tax burdens for bitcoin transactions less than $600 — Governments seem to be attempting integrate with cryptocurrency. Not ban it.

Finally, Robert Shiller, a Nobel prize winner in economics, has likened bitcoin and cryptocurrency to a bubble. Now, in fairness in one of his interviews he did try and down play his opinions. Robert also did pay respects to blockchain technology (though I am unclear if he knows the term blockchain), however I am still strong on the fact that he is missing the mark. Let me point out to you his interview with Quartz. Here is the excerpt for you to read and make your own conclusions on the depth in which the esteemed (and very intelligent) Robert Shiller has placed on researching and understanding our beloved crypto.

Quartz: Have you by any chance looked at initial coin offerings?
Shiller: No, what is an initial coin offering?
Quartz: It’s like using a crypto token, not bitcoin itself but the blockchain architecture, and issuing these virtual encrypted tokens almost like shares, even though they say they’re not shares.
Shiller: How is it different from bitcoin?
Quartz: It’s somewhat like crowdfunding. Say you’ve started a bar, and you want to fund it by issuing these tokens. A token is worth one beer, but your bar will only ever serve a set number of beers. If people think it will be a really hot bar, the value of the tokens trades for up to $100 or $200. People are raising hundreds of millions of dollars this way, with pretty thin business plans.
Shiller: Yeah, that’s a classic bubble. I’ll have to read about that. There are a lot of cryptocurrencies but they don’t have as good a story as bitcoin. Maybe there’s a new narrative. Maybe this is a more viral story. You’re making me think about writing something about this. You have my thinking going.

In closing, the fear of bitcoin can be summed up as this: Ignorance and fear-mongering. All of the above esteemed individuals I have pointed out clearly have not done their homework. Schiff making claims that you ‘cannot buy anything in bitcoin’ and that its ‘only use outside of speculation is crime’. Buffet calling bitcoin a ‘check’ or ‘money order’ and finally Shiller, not even knowing what an ICO is (and seemingly attempting to cash in on bitcoin by being its opponent) — look for his book on the ICO bubble soon.

My message to you all, educate yourselves. Look not only at the narratives that bloggers like myself and financial pundits alike are pushing regarding bitcoin and crypto. Look deeper at the underlying messages and hints laid out for us. Fiat is struggling, some may say dying. If this does occur, do we HONESTLY see ourselves ditching the convince of our digital world and lugging around gold or silver to the grocery store? I think not.

The future of crypto is hidden somewhere between the FUD and the exuberant excitement I and others write.

Be wise, but do not fear.

~CryptoJayson~

Follow me on twitter @crypto_jayson

Donation Addresses:

NEO: AXZ5AiCHXeEefG5Zo45waEV2QHdrqA93qc

ETH: 0x84f95A68FE5Ff16BB7e047c1484f4cd07fd1cB0a

BTC: 19uUE9K4ybS6zMMxCcjzDx9cz6cazh2ZTx


The Fear of Bitcoin was originally published in Decentralize Today on Medium, where people are continuing the conversation by highlighting and responding to this story.

How to buy cryptocurrencies using bitcoin on Bittrex

How to buy cryptocurrencies using bitcoin on Bittrex

First you need to transfer your previously purchased Bitcoin (BTC) or Ethereum (ETH) from here at coinbase. To do this once you have made an account and been verified go to your bittrex wallet and find the account balance for your BTC or ETH depending on what you want to use to buy the other coins.

Once you have located the BTC and ETH you will notice a + and - to the left of them select the + and it will take you to this screen.

Note: Even though the picture says bitcoin cash the steps are the same for BTC and ETH.

Once there select new address and a string of numbers and letters will appear in the bar above that is circled in blue. Copy this address and go over to coinbase. Go to your accounts and press send.

From there you will need to paste the address you got from bittrex and the press send.

Note: Make sure the address is exactly correct or you will lose your crypto forever as there is no way to get it back.

It will take a couple of minutes for your BTC or ETH to show up in your Bittrex wallet but when it does you are now able to buy other cryptocurrencies. To do this go to to the home page of bittrex and scroll down to the lists of the coins. Select the coin you would like to purchase, this will take you to a page that shows info about the coin. Scroll down till you see this section of the page.

Select price and then select ask from the drop down menu. This will give you the price. In the bar above type the amount you would like to buy and on the bottom line it will show you how much the amount you want will cost you. Select the buy button and this screen will come up.

Review your order and select confirm. Your order will begin to go through and you will shortly be able to see it in your wallet, and you are now the owner of multiple cryptocurrencies!

Bitcoin

What is bitcoin?

Bitcoin is a form of digital currency, created and held electronically. No one controls it. Bitcoins aren’t printed, like dollars or euros – they’re produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems.

See this video :

What is bit coin & how it works

What makes it different from normal currencies?

Bitcoin can be used to buy things electronically. In that sense, it’s like conventional dollars, euros, or yen, which are also traded digitally.

However, bitcoin’s most important characteristic, and the thing that makes it different to conventional money, is that it is decentralized. No single institution controls the bitcoin network. This puts some people at ease, because it means that a large bank can’t control their money.

Who created it?

A software developer called Satoshi Nakamoto proposed bitcoin, which was an electronic payment system based on mathematical proof. The idea was to produce a currency independent of any central authority, transferable electronically, more or less instantly, with very low transaction fees.

Who created it?

A software developer called Satoshi Nakamoto proposed bitcoin, which was an electronic payment system based on mathematical proof. The idea was to produce a currency independent of any central authority, transferable electronically, more or less instantly, with very low transaction fees.

What is bitcoin based on?

Conventional currency has been based on gold or silver. Theoretically, you knew that if you handed over a dollar at the bank, you could get some gold back (although this didn’t actually work in practice). But bitcoin isn’t based on gold; it’s based on mathematics.

Around the world, people are using software programs that follow a mathematical formula to produce bitcoins. The mathematical formula is freely available, so that anyone can check it.

The software is also open source, meaning that anyone can look at it to make sure that it does what it is supposed to.

What is a bitcoin wallet

A Bitcoin wallet is a software program where Bitcoins are stored. To be technically accurate, Bitcoins are not stored anywhere; there is a private key (secret number) for every Bitcoin address that is saved in the Bitcoin wallet of the person who owns the balance. Bitcoin wallets facilitate sending and receiving Bitcoins and gives ownership of the Bitcoin balance to the user. The Bitcoin wallet comes in many forms; desktop, mobile, web and hardware are the four main types of wallets.

Popular bitcoin wallets

Make your wallet and ready to earn bit coins.

Remember 1BTC = 4320$ (27/08/2017) at this time.

Next time we will see how to earn bitcoins with invest and without invest.Have a good day ☺

Centra — единственная в своем роде дебетовая карта с поддержкой Multi Cryptocurrency

Не так давно само понятие “криптовалюта” звучало как что-то из серии заоблачной фантастики. И тем не менее, интерес к данной теме усиливается с каждым днем. Все большее количество человек присоединяется к сообществу криптомира, численность ценителей которого стремительно и непрерывно растет. Если совсем недавно данная тема обсуждалась в очень узком кругу людей в специально отведенном для этого топике, то сейчас темы, связанные с криптовалютой и технологией Blockchain всколыхнули все мировое сообщество и вышли во многих странах мира на государственный уровень.

На сегодняшний день есть не один вид криптовалюты, каждая со своей структурой работы, системой защиты. Многие люди внедряют криптовалюту в свой бизнес, стремятся хранить в крипте свои накопления и сбережения, многие используют в качестве оплаты за товар или услуги определенного характера.

Разработчики проекта Centra.Tech — https://www.centra.tech/token-sale/ подготовили для нас с вами уникальное решение, которое просто невозможно оставить без внимания.

Centra — это дебетовая карта с поддержкой Multi Cryptocurrency, на сегодняшний день поддерживает уже 8 видов криптовалют: Bitcoin, Ethereum, Litecoin, ERC20 Token, Ripple, Zcash, Dash, в дальнейшем их список будет расширяться.

С помощью данной дебетовой карты Centra Card каждый владелец сможет легко и уверенно распоряжаться своими активами при обмене 0% комиссии.

Команда Centra.Tech разработала модуль — Engine Conversion Module (CCE), благодаря чему предоставится возможность конвертирования и траты различных криптовалют и обмена их в фиат в режиме реального времени по всему миру, где есть поддержка Visa или Mastercard.

Также с помощью кошелька Centra Wallet можно будет не только хранить свои активы блокчейн, но и они будут надежно застрахованы от хакерских атак или кражи. Данный кошелек позволит использовать торговую площадку cBay.io, где можно будет приобрести около 100000 предметов товаров различного характера на любой вкус — одежду, электронную технику или товары бытового характера.

Более подробно ознакомиться с информацией о проекте, можно перейдя по ссылке на Website — https://www.centra.tech/token-sale/, с технической документацией можно ознакомиться в Whitepaper проекта Centra.Tech — https://www.centra.tech/CentraWhitePaper.pdf

Мой профиль в Bitcointalk — https://bitcointalk.org/index.php?action=profile;u=994824

Centra — единственная в своем роде дебетовая карта с поддержкой Multi Cryptocurrency

Не так давно само понятие “криптовалюта” звучало как что-то из серии заоблачной фантастики. И тем не менее, интерес к данной теме усиливается с каждым днем. Все большее количество человек присоединяется к сообществу криптомира, численность ценителей которого стремительно и непрерывно растет. Если совсем недавно данная тема обсуждалась в очень узком кругу людей в специально отведенном для этого топике, то сейчас темы, связанные с криптовалютой и технологией Blockchain всколыхнули все мировое сообщество и вышли во многих странах мира на государственный уровень.

На сегодняшний день есть не один вид криптовалюты, каждая со своей структурой работы, системой защиты. Многие люди внедряют криптовалюту в свой бизнес, стремятся хранить в крипте свои накопления и сбережения, многие используют в качестве оплаты за товар или услуги определенного характера.

Разработчики проекта Centra.Tech — https://www.centra.tech/token-sale/ подготовили для нас с вами уникальное решение, которое просто невозможно оставить без внимания.

Centra — это дебетовая карта с поддержкой Multi Cryptocurrency, на сегодняшний день поддерживает уже 8 видов криптовалют: Bitcoin, Ethereum, Litecoin, ERC20 Token, Ripple, Zcash, Dash, в дальнейшем их список будет расширяться.

С помощью данной дебетовой карты Centra Card каждый владелец сможет легко и уверенно распоряжаться своими активами при обмене 0% комиссии.

Команда Centra.Tech разработала модуль — Engine Conversion Module (CCE), благодаря чему предоставится возможность конвертирования и траты различных криптовалют и обмена их в фиат в режиме реального времени по всему миру, где есть поддержка Visa или Mastercard.

Также с помощью кошелька Centra Wallet можно будет не только хранить свои активы блокчейн, но и они будут надежно застрахованы от хакерских атак или кражи. Данный кошелек позволит использовать торговую площадку cBay.io, где можно будет приобрести около 100000 предметов товаров различного характера на любой вкус — одежду, электронную технику или товары бытового характера.

Более подробно ознакомиться с информацией о проекте, можно перейдя по ссылке на Website — https://www.centra.tech/token-sale/, с технической документацией можно ознакомиться в Whitepaper проекта Centra.Tech — https://www.centra.tech/CentraWhitePaper.pdf

Мой профиль в Bitcointalk — https://bitcointalk.org/index.php?action=profile;u=994824

NavPay Mobile & Web Wallet Preview

With NavTech 1.2 successfully launched last week, the Nav Coin Team’s sights have been set on finishing our next project the NavPay Mobile & Web Wallet.

NavPay is Nav Coin’s fork of the CoPay Bitcoin wallet released by BitPay. NavPay is a fully qualified HD wallet which runs on a light blockchain allowing it to operate instantly with minimal storage requirements while retaining all the security of a full node. NavPay uses our full node server to commit transactions, but generates and stores your private keys on your device, never broadcasting any sensitive data to our server.

NavPay can operate as a Desktop or Mobile Application and even as a Web Wallet, replacing our Electrum Wallet and existing mobile offerings.

Development on the NavPay wallet is nearly finished. We are aiming to open NavPay Beta next week to a test group of users. Today we are releasing a few screenshots of NavPay so you can see how awesome it looks.

There will be more information on the NavPay wallet next week as we launch NavPay Beta and we hope to have a special feature confirmed for the wallet before the Beta Launch.

The NavPay project has been updated on the roadmap.

https://navcoin.org/project-roadmap

Marketing Update

Through our connections at the Auckland working space, we have organised a branding workshop with an internationally renown brand strategist, who has in the past led marketing strategy for brands such as Coca Cola, Unilever, Microsoft, and Vodafone. This will be a hugely valuable process, and help us craft a brand story that will help us stand out amongst the countless competitors.

We have completed our set up of the Google Adwords account for the community banner competition, but have unfortunately run into a roadblock. The website was flagged by an automated robot as being in the financial services industry, which has certain requirements to be able to run on the Google Display Network.

We have contacted Google to be manually approved, and are waiting for a response. We have seen other crypto’s running banners using Google, so this shouldn’t be too much of an issue. But we would expect this to take at least a few more days to be resolved, and we will be sure to update you in the next report.

We also have a new translation page that has been completed — for our Romanian friends. You can see this page here: https://navcoin.org/romanian

In the last report, we asked the community to let us know about any connections or opportunities for marketing, and have received a number of marketing opportunities which we will continue to develop over the next period.

That’s it from us this week.

Talk Soon,

Nav Coin Team


NavPay Mobile & Web Wallet Preview was originally published in Nav Coin on Medium, where people are continuing the conversation by highlighting and responding to this story.

Bitcoin will not be the currency of the future, and that is perfectly fine

source: coindesk

As our civilization evolves, our currency does too. Since Satoshi introduced the idea of Bitcoin in 2009, people have speculated its place in our every day life and how it could revolutionize how we purchase things and how we interact with money. However, in this piece, I argue that Bitcoin’s value does not come from the possibility of it replacing the fiat currency but rather something much more interesting.

Bitcoin’s flaws as a replacement for fiat currency

As unintuitive as it might sound, a good currency system needs a way to create money out of thin air. Facts are, humans are not perfect. We often forget our password, accidentally destroy valuable objects and unintentionally lose our hard earned cash. To compensate for this loss, the federal reserve has to print new bills every year. In fact, the feds printed over $213 billions in new bills in the year of 2016 alone. Bitcoin, on the other hand, has a limited supply of 21 million units. Combined with lost wallets and forgotten password, this number could decrease over time. As the supply decreases, people are less incentivized to exchange it for goods, which stagnates the economy.

source: federalreserve.gov

Compared to traditional banking, Bitcoin is much harder to properly secure in the context of everyday use. First, each or user is fully responsible for the appropriate protection of his credentials. This is extremely difficult for the average person. In contrast, central institutions such as banks or credit card companies employ teams of security experts to properly secure any sensitive information. Second, the non-reversible nature of transactions, combined with the pseudo-anonymity of Bitcoin, add incentives for scam and fraud. While long-term storage is relatively simple, everyday use is completely different since it requires the coins to be easily accessible, increasing its exposure to malware.

Moreover, it is difficult to incorporate Bitcoin network into the current banking system on which billions of dollars and countless hours of work has been spent to perfectly accommodate our lives. Our current fiat system is not perfect and suffers from many issues such as the lack of intrinsic value, the centralization of development, the price instabilities. However, Bitcoin, for the most part, does not fix those issues.

source: The Huffington Post

One of the most significant strengths of Bitcoin and cryptocurrencies, in general, is the independence from trusted third party escrows. However, in everyday use, the benefits of a third party escrow often outweigh the risks. For example, if your bank account was hacked or your credit card information was stolen, the bank or the credit card company will assist you in the recovery of your funds. The centralization also means that they can provide loan services which have been proven to be valuable. In the Bitcoin network, however, any loss or theft is fully assumed by each individual user.

Why Bitcoin doesn’t need to replace fiat currency

That being said, Bitcoin does not need to replace our fiat currency in order to be successful. In fact, most of Bitcoin’s value comes from the fact that it is one of the best stores of value ever to exist.

When we think of “store of value”, we usually think of precious metal, land property or collectible art. However, Bitcoin is superior to all of those. First, as mentioned previously, Bitcoin’s supply is limited and can only decrease. This ensures that Bitcoins are exclusive and are more likely to increase in value. Second, unlike most other stores of value, Bitcoins are virtually indestructible, thanks to the decentralization of the network. Other than pulverizing all storage device on Earth, there is no way to definitively destroy the Bitcoin network. Finally, and perhaps most importantly, Bitcoin is rather accessible. When it comes to precious metal and rare artwork, the high price and the complexity of transaction and long-term storage is often outside of the reach of average investors. Comparatively, it is rather easy to setup long-term storage for Bitcoin and the internet is full of guides to help investors in this regard. Moreover, Bitcoins can be sold in tiny fractions, down to 0.00000001 BTC. This eliminates the discrimination against smaller investors where they simply cannot afford to purchase larger amounts.

source: NY Times

Another valuable asset that people often overlook is the technology and the development team behind it. Bitcoin is the first successful network using the blockchain technology and has been at the forefront of it ever since. Behind it is an entire group of talented developers and researchers who try to push this new paradigm into new domains. As this technology continues to grow, it will become increasingly valuable and the value of Bitcoin will increase along with it.

Disclaimer: This article is not intended to provide legal or financial advice. Forward looking statements are not guarantees of any future events. Any opinions expressed in this piece are the author’s own and do not necessarily reflect the view of the SkycityCI team.

Bitcoin will not be the currency of the future, and that is perfectly fine

source: coindesk

As our civilization evolves, our currency does too. Since Satoshi introduced the idea of Bitcoin in 2009, people have speculated its place in our every day life and how it could revolutionize how we purchase things and how we interact with money. However, in this piece, I argue that Bitcoin’s value does not come from the possibility of it replacing the fiat currency but rather something much more interesting.

Bitcoin’s flaws as a replacement for fiat currency

As unintuitive as it might sound, a good currency system needs a way to create money out of thin air. Facts are, humans are not perfect. We often forget our password, accidentally destroy valuable objects and unintentionally lose our hard earned cash. To compensate for this loss, the federal reserve has to print new bills every year. In fact, the feds printed over $213 billions in new bills in the year of 2016 alone. Bitcoin, on the other hand, has a limited supply of 21 million units. Combined with lost wallets and forgotten password, this number could decrease over time. As the supply decreases, people are less incentivized to exchange it for goods, which stagnates the economy.

source: federalreserve.gov

Compared to traditional banking, Bitcoin is much harder to properly secure in the context of everyday use. First, each or user is fully responsible for the appropriate protection of his credentials. This is extremely difficult for the average person. In contrast, central institutions such as banks or credit card companies employ teams of security experts to properly secure any sensitive information. Second, the non-reversible nature of transactions, combined with the pseudo-anonymity of Bitcoin, add incentives for scam and fraud. While long-term storage is relatively simple, everyday use is completely different since it requires the coins to be easily accessible, increasing its exposure to malware.

Moreover, it is difficult to incorporate Bitcoin network into the current banking system on which billions of dollars and countless hours of work has been spent to perfectly accommodate our lives. Our current fiat system is not perfect and suffers from many issues such as the lack of intrinsic value, the centralization of development, the price instabilities. However, Bitcoin, for the most part, does not fix those issues.

source: The Huffington Post

One of the most significant strengths of Bitcoin and cryptocurrencies, in general, is the independence from trusted third party escrows. However, in everyday use, the benefits of a third party escrow often outweigh the risks. For example, if your bank account was hacked or your credit card information was stolen, the bank or the credit card company will assist you in the recovery of your funds. The centralization also means that they can provide loan services which have been proven to be valuable. In the Bitcoin network, however, any loss or theft is fully assumed by each individual user.

Why Bitcoin doesn’t need to replace fiat currency

That being said, Bitcoin does not need to replace our fiat currency in order to be successful. In fact, most of Bitcoin’s value comes from the fact that it is one of the best stores of value ever to exist.

When we think of “store of value”, we usually think of precious metal, land property or collectible art. However, Bitcoin is superior to all of those. First, as mentioned previously, Bitcoin’s supply is limited and can only decrease. This ensures that Bitcoins are exclusive and are more likely to increase in value. Second, unlike most other stores of value, Bitcoins are virtually indestructible, thanks to the decentralization of the network. Other than pulverizing all storage device on Earth, there is no way to definitively destroy the Bitcoin network. Finally, and perhaps most importantly, Bitcoin is rather accessible. When it comes to precious metal and rare artwork, the high price and the complexity of transaction and long-term storage is often outside of the reach of average investors. Comparatively, it is rather easy to setup long-term storage for Bitcoin and the internet is full of guides to help investors in this regard. Moreover, Bitcoins can be sold in tiny fractions, down to 0.00000001 BTC. This eliminates the discrimination against smaller investors where they simply cannot afford to purchase larger amounts.

source: NY Times

Another valuable asset that people often overlook is the technology and the development team behind it. Bitcoin is the first successful network using the blockchain technology and has been at the forefront of it ever since. Behind it is an entire group of talented developers and researchers who try to push this new paradigm into new domains. As this technology continues to grow, it will become increasingly valuable and the value of Bitcoin will increase along with it.

Disclaimer: This article is not intended to provide legal or financial advice. Forward looking statements are not guarantees of any future events. Any opinions expressed in this piece are the author’s own and do not necessarily reflect the view of the SkycityCI team.

Investing in Crypto Currencies

Investing in crypto currencies

How To Invest In Crypto-Currencies Smartly

Over the past couple of weeks, a lot of friends, family, and associates have been asking me if they ought to invest in Bitcoin? Have they missed the boat? Is there still an opportunity to make money?

First, let us get something out of the way: I am not investment Oracle. Not even close. I can barely understand the world of investments myself. I too, like many other people, started investing and saving very late in life.

I am not qualified to dispense investment &/or savings related advice and neither are a large number of people out there advocating what to buy (or not).

How high will Bitcoin go? No one knows. I think it is fair to say, 99% of the trade happening in Bitcoin’s volume is for speculative purposes or investment (long -term).

Here are some rules you need to abide by if you’re thinking about investing, there are Rules for Investing in Crypto-Currencies.

  1. Be prepared to lose all your capital.
  2. Be prepared to lose all your money forever, if your wallet is hacked.
  3. Be prepared to lose all your money forever, if your wallet provider gets hacked.
  4. Be prepared to lose all your money forever, if you are tricked into sending money to someone else.
  5. Be prepared to be questioned by lawful authorities on the money that you have stored in crypto currencies.
  6. Trying to mask vast amounts of wealth for purposes of tax evasion &/or flight of capital will be unmasked. You’re not that smart. The LEAs (Law Enforcing Agencies) are a lot smarter.
  7. If you cannot show the origin of your capital or refuse to disclose your ID, expect trouble.
  8. The crypto-currency could be deemed illegal and cashing out becomes impossible.
  9. The crypto-currency could be a fraud and you can lose all your money in an instance.
  10. Do your homework. You must read up on what you are buying. If you don’t you’re an ass!
  11. If you decide to buy coins because you read an article or a friend or relative told you — you’re an ass!
  12. Whenever investing, do your homework. Go to YouTube, going to CoinDesk and Coin Telegraph and read articles. Ask around. Listen to podcasts, etc. DO YOUR HOMEWORK! Do not invest blindly.

Having gotten this out of the way, let us talk about investing in Bitcoin. This is an example how I would do it. Nothing else. I am not dispensing advice how you should do it. This is how I do it.

There is a LOT of information for and against Bitcoin out in the media. You will be convinced that Bitcoin is the instrument to invest in, and then as always, there will be articles telling you, Bitcoin is poison!

I did my own research earlier on, and I was okay with Point # 1 in investing in Bitcoin. If I lost the money, that was okay too! Only I was to be blamed.

There are tons of cryptocurrencies out there. The four currencies if you will that made/make sense to me are:

  • Bitcoin
  • Ethereum (Ethers)
  • Ripple (XRPs)
  • Litecoin

The newest one is ERC20 Tokens or other Non-ERC20 Tokens. Will speak about them separately.

Within the Bitcoin world, you now have TWO currencies. Bitcoin Classic and Bitcoin Cash. Think of United States splitting up into two countries and you might end up with the US Dollar Classic and the New United States Dollar. Same way, Bitcoin has two:

  • Bitcoin Classic, denoted by BTC
  • Bitcoin Cash, denoted by BCC

Ethereum is another currency so to speak. The currency’s name is “Ethers’. Ethers are used to power Ethereum blockchain or smarter contracts. There is a lot of fantastic work being done on Ethereum which puts the demand for Ethers high!

Ripple is another distributed ledger technology company that is aiming to change the way money is moved across the world. The Ripple solution uses something called “XRP” to move money within the Ripple ecosystem. Even this is being debated, but for now, we can assume that will be the case and the XRP’s value has slowly been rising. Just like to follow a stock and then bet on the price, the same way, I look at Ripple, study what they are doing and then make an investment if I feel confident in the management and what they are doing.

Litecoin is another currency that is almost as old as Bitcoin. Its price is heavily pegged to the price movement of Bitcoin. I have it — for no other reason that I was a very early investor in it. It is liquid enough, mined a lot and then exchanged for other crypto-currencies.

These are the four base currencies I invest and dabble in.

From a portfolio viewpoint, here is how I have it configured with the four base currencies:

  • 50% of the portfolio investment is in Bitcoin
  • 25% of the portfolio investment is in Ethereum (Ethers)
  • 15% of the portfolio investment is in Ripple (XRPs)
  • 10% of the portfolio investment is in Litecoin

The goal here is not to make mega money! Who wouldn’t like that? Of course, everyone would love that! The goal here is to make sure the money I have invested stays ahead of the curve, ahead of the traditional investment instruments (of which you should also invest in — more on that later in a different article).

If the US Dollar is losing its purchasing power or the Euro or Saudi Riyal, then what the heck do you invest in? Gold? Ummm, I don’t know about that, but crypto-currencies were a god send.

If you don’t get greedy and are able to exercise restraint and discipline, you can very comfortably attain a net positive portfolio that will have its performance better than existing investment instruments and general currencies and precious metals.

One year ago, Ethererum was priced at about $12. Today it is over $300. So, by that example, if you had invested US$ 1,000 one year ago, you would have US$ 25,000 today! That is astronomical by any standard. At US$ 300 people wonder if it is the right price to get in the action? The answer is — it depends! If you’re thinking there will be a repeat of x25 returns within the next 12 months — I dunno! It could happen. However, if you want to stay ahead of the general market, like get a 10% return, I think that could very easily happen, but then again, refer to Rules of Investing in Cryptocurrencies.

How much of your money should you invest in crypto currencies? I would say maybe a quarter or a third of your portfolio. Certainly no more!

In addition to the four somewhat dominant coins listed above, there are a lot of new coins (read cryptocurrencies) that keep coming out. There is IOTA, Dash, zCash, Stratis, Monera, etc. you will have to do your own research and decide if these are coins you want to take a position on. Buying a few will not hurt, provided you adhere to the Rules of Investing in Cryptocurrencies, as well as do your homework.

You will also recently read about something called ICO (Initial Coin Offering). ICOs are token or coins being issued for a very specific function. For some examples of successful ICOs are Tez0s, Filecoin, Everex, etc.

Investors have been pouring money into ICOs. Most of the money is speculative money, however, all astute investors know what the company stands for, what their solution means and what these token offerings are for, not to mention, understand the global and local regulatory laws under which the company might operate.

Play smart, invest carefully and remember, if you go in blind, expect the unexpected to happen.

Article originally publish in: https://faisalkhan.com/2017/08/12/investing-crypto-currencies/


Investing in Crypto Currencies was originally published in Banking, Payments & Fintech on Medium, where people are continuing the conversation by highlighting and responding to this story.

Investing in Crypto Currencies

Investing in crypto currencies

How To Invest In Crypto-Currencies Smartly

Over the past couple of weeks, a lot of friends, family, and associates have been asking me if they ought to invest in Bitcoin? Have they missed the boat? Is there still an opportunity to make money?

First, let us get something out of the way: I am not investment Oracle. Not even close. I can barely understand the world of investments myself. I too, like many other people, started investing and saving very late in life.

I am not qualified to dispense investment &/or savings related advice and neither are a large number of people out there advocating what to buy (or not).

How high will Bitcoin go? No one knows. I think it is fair to say, 99% of the trade happening in Bitcoin’s volume is for speculative purposes or investment (long -term).

Here are some rules you need to abide by if you’re thinking about investing, there are Rules for Investing in Crypto-Currencies.

  1. Be prepared to lose all your capital.
  2. Be prepared to lose all your money forever, if your wallet is hacked.
  3. Be prepared to lose all your money forever, if your wallet provider gets hacked.
  4. Be prepared to lose all your money forever, if you are tricked into sending money to someone else.
  5. Be prepared to be questioned by lawful authorities on the money that you have stored in crypto currencies.
  6. Trying to mask vast amounts of wealth for purposes of tax evasion &/or flight of capital will be unmasked. You’re not that smart. The LEAs (Law Enforcing Agencies) are a lot smarter.
  7. If you cannot show the origin of your capital or refuse to disclose your ID, expect trouble.
  8. The crypto-currency could be deemed illegal and cashing out becomes impossible.
  9. The crypto-currency could be a fraud and you can lose all your money in an instance.
  10. Do your homework. You must read up on what you are buying. If you don’t you’re an ass!
  11. If you decide to buy coins because you read an article or a friend or relative told you — you’re an ass!
  12. Whenever investing, do your homework. Go to YouTube, going to CoinDesk and Coin Telegraph and read articles. Ask around. Listen to podcasts, etc. DO YOUR HOMEWORK! Do not invest blindly.

Having gotten this out of the way, let us talk about investing in Bitcoin. This is an example how I would do it. Nothing else. I am not dispensing advice how you should do it. This is how I do it.

There is a LOT of information for and against Bitcoin out in the media. You will be convinced that Bitcoin is the instrument to invest in, and then as always, there will be articles telling you, Bitcoin is poison!

I did my own research earlier on, and I was okay with Point # 1 in investing in Bitcoin. If I lost the money, that was okay too! Only I was to be blamed.

There are tons of cryptocurrencies out there. The four currencies if you will that made/make sense to me are:

  • Bitcoin
  • Ethereum (Ethers)
  • Ripple (XRPs)
  • Litecoin

The newest one is ERC20 Tokens or other Non-ERC20 Tokens. Will speak about them separately.

Within the Bitcoin world, you now have TWO currencies. Bitcoin Classic and Bitcoin Cash. Think of United States splitting up into two countries and you might end up with the US Dollar Classic and the New United States Dollar. Same way, Bitcoin has two:

  • Bitcoin Classic, denoted by BTC
  • Bitcoin Cash, denoted by BCC

Ethereum is another currency so to speak. The currency’s name is “Ethers’. Ethers are used to power Ethereum blockchain or smarter contracts. There is a lot of fantastic work being done on Ethereum which puts the demand for Ethers high!

Ripple is another distributed ledger technology company that is aiming to change the way money is moved across the world. The Ripple solution uses something called “XRP” to move money within the Ripple ecosystem. Even this is being debated, but for now, we can assume that will be the case and the XRP’s value has slowly been rising. Just like to follow a stock and then bet on the price, the same way, I look at Ripple, study what they are doing and then make an investment if I feel confident in the management and what they are doing.

Litecoin is another currency that is almost as old as Bitcoin. Its price is heavily pegged to the price movement of Bitcoin. I have it — for no other reason that I was a very early investor in it. It is liquid enough, mined a lot and then exchanged for other crypto-currencies.

These are the four base currencies I invest and dabble in.

From a portfolio viewpoint, here is how I have it configured with the four base currencies:

  • 50% of the portfolio investment is in Bitcoin
  • 25% of the portfolio investment is in Ethereum (Ethers)
  • 15% of the portfolio investment is in Ripple (XRPs)
  • 10% of the portfolio investment is in Litecoin

The goal here is not to make mega money! Who wouldn’t like that? Of course, everyone would love that! The goal here is to make sure the money I have invested stays ahead of the curve, ahead of the traditional investment instruments (of which you should also invest in — more on that later in a different article).

If the US Dollar is losing its purchasing power or the Euro or Saudi Riyal, then what the heck do you invest in? Gold? Ummm, I don’t know about that, but crypto-currencies were a god send.

If you don’t get greedy and are able to exercise restraint and discipline, you can very comfortably attain a net positive portfolio that will have its performance better than existing investment instruments and general currencies and precious metals.

One year ago, Ethererum was priced at about $12. Today it is over $300. So, by that example, if you had invested US$ 1,000 one year ago, you would have US$ 25,000 today! That is astronomical by any standard. At US$ 300 people wonder if it is the right price to get in the action? The answer is — it depends! If you’re thinking there will be a repeat of x25 returns within the next 12 months — I dunno! It could happen. However, if you want to stay ahead of the general market, like get a 10% return, I think that could very easily happen, but then again, refer to Rules of Investing in Cryptocurrencies.

How much of your money should you invest in crypto currencies? I would say maybe a quarter or a third of your portfolio. Certainly no more!

In addition to the four somewhat dominant coins listed above, there are a lot of new coins (read cryptocurrencies) that keep coming out. There is IOTA, Dash, zCash, Stratis, Monera, etc. you will have to do your own research and decide if these are coins you want to take a position on. Buying a few will not hurt, provided you adhere to the Rules of Investing in Cryptocurrencies, as well as do your homework.

You will also recently read about something called ICO (Initial Coin Offering). ICOs are token or coins being issued for a very specific function. For some examples of successful ICOs are Tez0s, Filecoin, Everex, etc.

Investors have been pouring money into ICOs. Most of the money is speculative money, however, all astute investors know what the company stands for, what their solution means and what these token offerings are for, not to mention, understand the global and local regulatory laws under which the company might operate.

Play smart, invest carefully and remember, if you go in blind, expect the unexpected to happen.

Article originally publish in: https://faisalkhan.com/2017/08/12/investing-crypto-currencies/


Investing in Crypto Currencies was originally published in Banking, Payments & Fintech on Medium, where people are continuing the conversation by highlighting and responding to this story.

NEXT BIGGEST CRYPTOPIA PUMP — Saturday 12th August — Neptune Trip!

Join us: http://t.me/exposurepumps

Countdown: https://goo.gl/upYPXB

Today I´m here for announce the next Pump:

NEXT BIGGEST CRYPTOPIA PUMP — Saturday 12th August — Neptune Trip!

We´ll make huge profits in this Pump, we´re growing everyday and it means more people pumping and larger pumps!

You need to have your BTC in Cryptopia ready for the Pump!

We´re going to neptune with this huge pump!

Inflation cause and It’s parameters

Inflation can be described as a hike in the usual price level. At the time of Inflation, pricing of various goods and services like food, housing, transportation, apparel, and fuel rise and affects the whole economy of a country. If prices only a few types’ goods and services are increasing, then it’s not considered as Inflation. To know more about Inflation, it is necessary to discuss the causes or parameters that contribute a hike in Inflation, which are:

Causes of Inflation

Economists differentiate between two types of inflation: Demand-Pull Inflation and Cost-Push Inflation. These are actually causes of Inflation which develop and enhance Inflation by causing an increase in pricing.

Demand-pull inflation generates when the average demand of goods and services increase really fast in comparison to the economy’s capacity. One major bend in demand may come from a central bank which quickly increases the supply of money. Due to this increase in money, demand increases even more. Some small businesses and industries cannot start increasing the production, keeping supply constant. Thus, price starts to increase and thus causes Inflation.

Cost-push inflation generates when the product pricing increases. A hike in raw materials’ price and an increase in salary/wage, causes inflation. An increase in product pricing leads to decrease in average supply and in turn whole pricing level also increases.

Parameters that boost up the Inflation

A. Consumers’ Tendency

As soon as employment reduces and salaries, as well as wages, remain unchanged, consumers are more likely to expense money. Due to this increases spending tendency of consumers, manufacturers and sellers increase the pricing of their goods & services, which are higher on demand. Thus, consumers’ expenditure tendency may prove to be a considerable parameter to increase the inflation.

B. Downturn in Supply

Inflation gets affected by changes in supply and demand. As soon as the supply of a particular good or service reduces, it’s demand increases because a major part of the population wants to own it while it doesn’t be available on that large scale. There may be two major reasons for supply to be decreased. For the first, a super famous and worthy product’s supply may reduce due to its higher demand. Such goods get sold before the new stock comes. Another one and the biggest reason of supply to be decreased is a natural disaster or any environmental effect. For example, we can consider that excessive storm diminishes manufacturing units by which supply-chain gets disturbed.

C. Businesses’ Movements

Other than the above parameters, inflation can be given a push by corporate industries or businesses also. Some business owners introduce a hike in the pricing of their products because they know that consumers are willing to pay the increased amount to own their product. Another reason to increase pricing may be when they are introducing a product which consumers will be using on daily basis and will be needing that for sure. Unintentionally, such acts of business leaders may cause inflation and if these things aren’t stopped then inflation keeps on increasing.

How is it measured?

Measuring inflation is a complicated procedure while considered from the side of expert government statisticians. To kick start, all the related goods and services are put in a fundamental base that is called as a market basket. The cost of this market basket is finally measured at different time intervals and compared. The result is calculated in terms of price index i.e. present cost of basket compared with the cost of a basket at the starting of the year.

Consumer Price Index (CPI): CPI gives an approximate measure of changes in pricing of goods and services used by consumers i.e. clothes, food, and vehicles. The result calculated via CPI provides a measure of the price being seen from buyers’ side.

Producer Price Indexes (PPI): PPI is a combination of indices that provides an aggregate change in selling price of various goods and services with time. The result calculated via PPI provides a measure of a price being seen from sellers’ side. While being measured for a long term, different PPIs and CPI indicate an equal rate of inflation. Being calculated for short term, economists and investors prefer CPI more than PPI.

Just imagine, How we missed opportunities by not buying BTC with small amounts of money.”

Just imagine, How we missed opportunities by not buying BTC with small amounts of money.” … we could play that game with pretty much any investment that went huge, like investing in apple stock when it first went public. Bitcoin is especially painful though.Moral of it: Invest in BTC. right now. don’t delay! A month ago (or was it less than that?) it was at 2700 and I was about to start my BTC IRA.
Buy bitcoin and Eth instantly and easily, worldwide,since2013. It allows for the buying of bitcoin, Ethereum,Bitcoin Cash and Dash for low fees via credit card with USD, EUR, GBP OR RUB. Customers can also purchase for free with bank transfers. Cross-Platform trading

Just imagine, How we missed opportunities by not buying BTC with small amounts of money.”

Just imagine, How we missed opportunities by not buying BTC with small amounts of money.” … we could play that game with pretty much any investment that went huge, like investing in apple stock when it first went public. Bitcoin is especially painful though.Moral of it: Invest in BTC. right now. don’t delay! A month ago (or was it less than that?) it was at 2700 and I was about to start my BTC IRA.
Buy bitcoin and Eth instantly and easily, worldwide,since2013. It allows for the buying of bitcoin, Ethereum,Bitcoin Cash and Dash for low fees via credit card with USD, EUR, GBP OR RUB. Customers can also purchase for free with bank transfers. Cross-Platform trading

How Cryptocurrency is making us better at money.

In January of 2009 Satoshi Nakamoto released his open source project Bitcoin to the world, and in the following years it has helped to usher in a new era of money.

To be sure, money and upgraded finance are the first applications on this new “Internet(s) of Money”. What he really released to the world with his blockchain technology was trustless immutability, of which all it’s incarnations have yet to be realized, but the potential is simply astounding.

This is the our generation’s money and by that token( ͡° ͜ʖ ͡°), the world’s new money.

Personally I sit at the tail end of Generation X. For my generation and the Millennials we have only started waking up en mass to the realization that we are not going to have a comfy and secure retirement going through the traditional routes that our grandparents did.

Most of us live paycheck to paycheck, caught up in the brainless cycle of work to spend in our current materialistic first world lives. Continuously enriching old entrenched money, and doing our part in increasing the wealth gaps in all our societies and furthering us all into debt slavery.

However we have been blessed with growing up in the internet age, the first computer technological global revolution, the information revolution.

Out of that revolution, came gaming and out of gaming came competitive multiplayer experiences. Games with their own virtual economies in which all of us got better at growing our credits and gold stashes, much more so then with paper fiat money our paychecks give us access too.

We all now are well within the first decade of the next revolution, the Internet of Money. Blockchain cryptocurrency coins, tokens whatever you want to call them, are the perfect form of money.

3 things describe money.

1) A store of value
2) A medium of exchange
3) A unit of account

Virtually all blockchain assets met these requirements. Bitcoin is the best store of value(scarcity), Ethereum, Litecoin and Dash better at being mediums of exchange(speed), and they are all the best units of account the world has ever seen thanks to immutability of the blockchain.

They are all fungible and easily divisible, up to a hundred millionth or more, the very large and very small numbers in math making cryptocurrency the best form of money.

Building up your crypto assets is like building up your gold reserves in a game, people naturally started doing something smart with their hard-earned money. Transferring it into a stores of value to grow over time or as the Chinese would say “Saving money”. And as the Internet would say, HODL.

We are now in a Cambrian explosion of cryptocurrency evolution (as coined by Erik Voorhess) with over a thousand assets all trying to out do each other. And young adults now turned investors are trying to catch em all like Pokémons.

Gamers are now embodying the aspects taught in The Art of War, and the more contemporary StarCraft. Competing with each other to build up their reserves and strengthening their own personal economies.

New services are now being created to allow lending via blockchain collateralized assets (SaltLending) allowing users to not just take advantage of credit check free loans, but learning the actual meaning behind terminology like collateral, liquidity, mutual funds, hedging and so on.

A new generation companies are building decentralized apps to solve needs unimagined only a year ago on new immutable technology stacks via the likes of Ethereum, Stratis and Lisk.

The blockchain is also helping to facility the greatest transfer of wealth the world has ever seen. From old money to new, from first world to third world.

People are slowly taking back control of money. This new money is able to travel instantly and freely throughout the world without antiquated middle men taking high fees, and the outdated archaic and war funding global central banking system is being disrupted into obsolescence. And this will be our generations greatest achievement.


How Cryptocurrency is making us better at money. was originally published in Cryptocurrency Citizen on Medium, where people are continuing the conversation by highlighting and responding to this story.

How Cryptocurrency is making us better at money.

In January of 2009 Satoshi Nakamoto released his open source project Bitcoin to the world, and in the following years it has helped to usher in a new era of money.

To be sure, money and upgraded finance are the first applications on this new “Internet(s) of Money”. What he really released to the world with his blockchain technology was trustless immutability, of which all it’s incarnations have yet to be realized, but the potential is simply astounding.

This is the our generation’s money and by that token( ͡° ͜ʖ ͡°), the world’s new money.

Personally I sit at the tail end of Generation X. For my generation and the Millennials we have only started waking up en mass to the realization that we are not going to have a comfy and secure retirement going through the traditional routes that our grandparents did.

Most of us live paycheck to paycheck, caught up in the brainless cycle of work to spend in our current materialistic first world lives. Continuously enriching old entrenched money, and doing our part in increasing the wealth gaps in all our societies and furthering us all into debt slavery.

However we have been blessed with growing up in the internet age, the first computer technological global revolution, the information revolution.

Out of that revolution, came gaming and out of gaming came competitive multiplayer experiences. Games with their own virtual economies in which all of us got better at growing our credits and gold stashes, much more so then with paper fiat money our paychecks give us access too.

We all now are well within the first decade of the next revolution, the Internet of Money. Blockchain cryptocurrency coins, tokens whatever you want to call them, are the perfect form of money.

3 things describe money.

1) A store of value
2) A medium of exchange
3) A unit of account

Virtually all blockchain assets met these requirements. Bitcoin is the best store of value(scarcity), Ethereum, Litecoin and Dash better at being mediums of exchange(speed), and they are all the best units of account the world has ever seen thanks to immutability of the blockchain.

They are all fungible and easily divisible, up to a hundred millionth or more, the very large and very small numbers in math making cryptocurrency the best form of money.

Building up your crypto assets is like building up your gold reserves in a game, people naturally started doing something smart with their hard-earned money. Transferring it into a stores of value to grow over time or as the Chinese would say “Saving money”. And as the Internet would say, HODL.

We are now in a Cambrian explosion of cryptocurrency evolution (as coined by Erik Voorhess) with over a thousand assets all trying to out do each other. And young adults now turned investors are trying to catch em all like Pokémons.

Gamers are now embodying the aspects taught in The Art of War, and the more contemporary StarCraft. Competing with each other to build up their reserves and strengthening their own personal economies.

New services are now being created to allow lending via blockchain collateralized assets (SaltLending) allowing users to not just take advantage of credit check free loans, but learning the actual meaning behind terminology like collateral, liquidity, mutual funds, hedging and so on.

A new generation companies are building decentralized apps to solve needs unimagined only a year ago on new immutable technology stacks via the likes of Ethereum, Stratis and Lisk.

The blockchain is also helping to facility the greatest transfer of wealth the world has ever seen. From old money to new, from first world to third world.

People are slowly taking back control of money. This new money is able to travel instantly and freely throughout the world without antiquated middle men taking high fees, and the outdated archaic and war funding global central banking system is being disrupted into obsolescence. And this will be our generations greatest achievement.


How Cryptocurrency is making us better at money. was originally published in Cryptocurrency Citizen on Medium, where people are continuing the conversation by highlighting and responding to this story.