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New York Financial Regulators Grant BitLicense to Bitcoin ATM Operator

News

The New York State Department of Financial Services (NYDFS) has granted a virtual currency license, or BitLicense, to Cottonwood Vending LLC, according to an official tweet on Jan. 31.

Cottonwood Vending is a Bitcoin (BTC) ATM operator with terminals in New York City and the surrounding area. According to the tweet, the granting of such licenses “continues to advance responsible innovation in New York’s fintech industry.”

Bitcoin ATMs, or BTMs, are touchscreen kiosks that enable users to deposit cash and either buy Bitcoin, or to scan their mobile wallet, sell their crypto, and withdraw cash. Sales and purchases sync automatically to users’ mobile wallets.

In November 2018, NYDFS granted a Bitlicense to another BTM operator, Coinsource. NYDFS said in a press release that its decision followed a comprehensive and thorough review of Coinsource’s application and subjects the firm to significant regulatory conditions.

BitLicenses were introduced by NYDFS in July of 2014 by Benjamin Lawsky, New York’s first Superintendent of Financial Services. The acquisition of such a license is seen by many in the cryptocurrency and blockchain spheres as a necessary step to conducting business in the state.

Firms that receive such a license are subject to certain anti-money laundering (AML) standards and counter-terrorism financing standards. Other requirements include background checks on all employees, and records of transactions must be kept for 10 years.

Various companies in the crypto space have sought and received BitLicenses from NYDFS. In July 2018, global crypto payments processor BitPay was granted a BitLicense. At the time, BitPay CEO Stephen Pair said:

“New York state has one of the strictest policies around businesses involved in cryptocurrency and working through the approval processes to obtain a License was important to BitPay. We believe this hard work will pay off as New York presents significant business opportunities for BitPay.”

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How To Buy Eth With Credit Card In The USA

If you have been using crypto for a while you probably noticed how difficult buying cryptocurrency like BTC or ETH has become. It wasn’t long ago that you could buy ETHER from hundreds of websites with paypal or a credit/debit card just like buying anything else. Now buying cryptocurrency from say Coinbase for instance will require you to wait several days for identification verification. On top of this you often get 14 day holds placed on your USD account or cryptocurrency balance. This isn’t good business practices as it hurts the barrier to entry for even major cryptocurrency markets. It is a terrible user experience from one of the leaders of buying digital currencies for trading or online purchases.

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How Do You Buy ETH Online With A Credit Card In The USA without waiting 14 days to be able to use it?

This is the exact question I asked after doing business with coinbase for over 1 year. During the 14 days I waited for my funds to be released I bought thousands of dollars worth of digital assets including ETH from all of their competitors and what I uncovered is riveting. In the article I am going to share with you information about cryptocurrency that you must know in order to start buying it online. Much of the information will also benefit you no matter what country you are in.

Are your Ready? Buckle up and enjoy this riveting article about how to buy crypto online with a debit or credit card and follow along the exact steps and reasons why I have decided to completely flip my trading and currency buying experiences upside down!

Let’s First Examine Some Facts You Must Know Before Buying ETH Online.

These tips and tricks are sure to help you on your journey to purchasing ETH. Ethereum is an amazing blockchain and the currency is called ETHER, It trades under the Symbol ETH and is super easy to get started using once you know some of the ins and outs about it. Eth is the second most used currency behind Bitcoin and many speculate that it is just a matter of time before ETH replaces Bitcoin as the digital currency of choice! Bitcoin lovers please rant in the comments below.

The ethereum blockchain allows companies and developers the ability to build other currencies using their existing blockchain technology and this is one reason it is so popular. By doing this companies large and small can take advantage of secure wallets and the power of the Ethereum blockchain to help scale their business. Stish the cryptocurrency is just one example of a digital asset developed on the Ethereum blockchain that people can easily send, and trade using Ethereum blockchain technology.

To send and receive ETH and tokens built on the Ethereum blockchain you will need 2 things right now. You must have a wallet address and a private key. Often centralized exchanges create ETH wallets that users can use to make transactions but you do not have full control over these without the private keys. So be sure you create a wallet address that you own entirely and possess the private key. NEVER SHARE YOUR PRIVATE KEY EVER!

An easy way to think about how it works for me is that your wallet address is sorta like a bank account number and your private key is the cryptographic password. When these 2 things come together you can send funds from the wallet and sign messages validating your ownership. ETH wallet address always start with Ox and look similar to this:
0x7673Ba7A671e6C439222B447E32CA22B6Da428c6 again it is fine to share this so people can send you funds but NEVER SHARE YOUR PRIVATE KEYS!

The fastest way to create a wallet if you are a member of Stish, is to just visit your Stish Wallet Management Page. If you are not a member there are several fast ways to create secure wallets online.

Let’s look at the 2 most popular ways to create a wallet address.

Both of the tools that you are about to learn about are tried and true and have come a long way in making wallet management easy for users. Both ways to quickly and securely create an ETH wallet address involve adding a plugin/extension to your browser. Chrome, Firefox, and Brave browsers are popular for using both. With both you will need to make sure you have a solid piece of paper and a pen or a way to copy and paste and secure your seed word phrases and private keys. DO NOT EVER SHARE THESE WITH ANYONE. KEEP THEM SAFE.

  • Saturn Wallet – The Saturn Wallet is popular because it works just like the other wallet and even has the same look and feel of the other wallet but comes with less work for the end user. Many tokens information for displaying how much of each you have is automatically populated for you. The Saturn Wallet works flawlessly with the popular decentralized exchange https://Saturn.Network and for that reason it is one of my favorite wallet creation tools. Once installed it is super easy to create a wallet, export and download the private key for safe keeping. This wallet tool assists in sending and view received ETH and ETH based currency like Stish. CREATE – SEND- RECEIVE-TRADE!
  • Meta Mask – The original browser based wallet tool for interacting with Ethereum. In the early days it was buggy and glitchy and actually very hard to use but it has come a long way. From time to time I still use both but I found you can’t have both open at the same time as they conflict. Meta Mask has laid the groundwork for secure wallet creation and sending and viewing receive ETH and Tokens. It doesn’t auto add token information so if you are trading tokens you might not be able to have as much fun. You will need to find the token’s contract address, decimals and trading symbol and manually add the token to view if you have any. This can be time consuming and hinder trading.

How Do You Buy ETH WITH A Credit Card I Have My Wallet Address Now?

During our 14 days waiting for our ETH to be released we decided it was now time to do some serious exploration into how to buy ETH online with a credit card. Like many of you, we went to website after website only to find out that they did not serve our market yet. Many will never serve our market and I believe possibly are out and out scam sites. So where do you go who do you trust and why?

Not everyone who wants to use ETH is a miner. In fact most people are not mining ETH to use it in everyday purchases or trading. With low transaction fees when compared to Bitcoin, ETH just makes sense for cost minded individuals. ETH has proven to be a secure reliable cryptocurrency running on a great blockchain. If you are not mining ETH then why do you want to buy it?

5 Reason To Buy ETH Online:

  • ETH is Immutable. Which means It is hard to hack
  • ETH has low transaction fees. It is cheaper to send between parties.
  • ETH has liquidity. Which means generally it can be converted back into USD or your government issued currency, or other digital currency quickly.
  • ETH is stable. In comparison to many cryptocurrencies ETH is not as volatile and there are plenty of resources available to watch for trading opportunities.
  • ETH is easy to learn about. There are countless articles online like this one that can help you learn more about ETH. There are loads of tools and resources available no matter how you plan to use ETH.
  • ETH protects your privacy. You don’t have to give out sensitive information when using ETH as a form of payment. Generally I buy from one website all of my ETH and then I can conduct business online with anyone in the world. This lowers my risk of credit card fraud and identity theft because I just lowered how many places I’m punching in those numbers and details astronomically.
  • ETH helps small businesses like www.Stish.io grow and that can help change the planet by restoring the power back to the people instead of big companies that buy political favors and start wars.

After literally attempting to buy ETH from every website we could find we came up with a very short list of alternative to Coinbase. One that we had used before but we had much difficulty now was Changelly. There were two major issues all of sudden. One was a crazy difference in the display price when you first see if you can swap USD for ETH. You might first see a fair trade but once you get toward the checkout process you realize that there is about a 15-20% fee being deducted. So if $100 dollars buys an ETH on the Exchange you can generally expect to see $100 buying slightly less than a full ETH. In some instances when we tested we even seen enough to buy one ETH at the time only going to actually give us .64 ETH which is an enormous amount of fees to simply buy ETH. Once we actually arrived at the final pay screen we were notified that, The Currency or Payment (which was a credit card) was not available in our area.

Website after website refused to sell us ETH for USD via credit card or debit card. After asking many companies what the deal was via twitter, facebook, or email, most responded with a canned security warning that looked eerily similar to the bs security warning from coinbase. After several days of frustrations and rants a few people literally sent us ETH which we have now sent back. We did greatly appreciate the ETH until we could find a place to buy ETH with USD.

The One Website We Could Actually Use To Buy ETH with USD and What We Went Through And What You Can Expect!

We finally found a website that would allow us to create an account and they really have exceeded our expectations. Keep in mind that until this point we had found nearly a dozens websites that had not allowed us to buy ETH online for various reasons. The user experience up until this point was pathetic. The only website that we could buy from put a 14 day hold on funds and the other website was charging crazy fees and even then we could not buy ETH.

There is a shining star in the crypto world that is doing great things for the ETH community of users. One website among the masses that delivers big time. On the other links you will find an affiliate link. We could put one on this website also but have chosen to simply tell the world how great it is to finally be able to buy ETH online with a credit card so that we too could feel the joy of trading and spending ETH like real money, safe and secure!

DON’T LET THE NAME FOOL YOU!

Coinmama wins hands down in the best place to buy ETH online with a credit card. They also offer other popular currency like Bitcoin and Ripple. There are only a few things that you need to know before you rush over and buy ETH for the first time or for the thousandth time. Here is the list of 4 things you must have ready and be prepared for so you can buy ETH online like I have been doing now for 5 out of the 14 days that we have been doing research for this article.

  • You do have to provide identification. This includes a copy of a valid photo id such as drivers license or passport.
  • You do have to provide the proper address of residence and information about yourself
  • You must smile in a selfie and be able to write a note like you are robbing a bank. Seriously I had to write I LOVE CoinMama on a piece of Paper and slip it to the teller. Ok I just uploaded it along with my ID but it made it more fun to pretend I was on a secret mission.
  • WAIT… WAIT….WAIT some more… We found another company that would let us buy ETH but we had to wait so long that we decided to completely exclude them. Coinmama was less than 24 hrs and we were verified and allowed to buy ETH.

The Actual Buy Process Was Pretty Chill and Enjoyable

If you read the whole article then you already had your ETH wallet address created and knew to never share your private key with anyone. Coinama does the transaction from credit card USD to ETH the best out of any company online! I am not joking when I say this. Most of the exchanges or places you want to buy or could buy ETH are very centralized. Once you give them your money, they can arbitrarily decide to hold it for 14 days or 14 months.

SIDE NOTE: This has actually happened to me also when an exchange decided to hold a currency I was trading for 4 months. By the time it was released all I owned was a token to be burned verses being able to actually make a sell order and make a few bucks. Avoid centralized exchanges all together and you will enjoy trading crypto and buying it.

Back to why I have found Coinmama to be the only place I will buy ETH online and I hope it doesn’t change any time soon. When you buy ETH from coinmama they make you enter the Wallet Address that you want it to go to. This is huge because they do not take both your USD and ETH and hold it hostage. (cough,cough… Coinbase does and whether it is in their fine print or not it isn’t cool)

Within about 20 minutes after your bank has cleared the transaction or credit card company has approved the transaction you get a notification that the funds were sent and it was fast to verify. I just pulled up my Saturn Wallet and there is was. Some Pretty ETH I had finally bought online faster than coinbase could release my funds that they were holding 100% percent for no legitimate reason.

One thing you should know about Coinmama that was different verses other websites when you buy ETH. You do need to stay on the checkout page. So once the credit card info is being sent don’t change pages, or close the page, Just wait a second and let it confirm everything and boom you will get a transaction receipt and have your ETH or other Currency.

Some of the other currency we purchased took a moment longer but generally within an hour we had all of the crypto that we had purchased in our wallet. Once you get past the initial wait of verification the experience is phenomenal. For this reason no other website made the list.

Now you can buy ETH and add a little to Your Stish Wallet to cover the nominal transaction fees. You can buy ETH and start trading cryptocurrency on The Saturn.Network decentralized exchange where you never lose control of your funds! May 2019 be a happy new year after all! Thanks to coinbase I found a better place to buy ETH online for USD.

coinmama
You really can get all that you pay for. ETH was running a little over $125. On other services $1000 USD barely purchased 7.5 ETH often. Crazy Right! Now You Know!

Funny Note About ETH I thought Of While Writing!

I feel like I am talking about a no name token trying to find it’s place in the world. ETH should be super easy to buy and when it is not I have no doubts why adoption is lower than expected and the price is stagnant and low. If you can’t buy it easily and use it easily it will not be used by the masses. Don’t overthink things team ETH.

Other Things You Might Look At For Good Measure When Buying Eth.

Great, I’m glad you created a wallet address. Another website that has good tips about creating them is https://MyEtherWallet.com and can come in handy when in a hurry. They offer other tools and services also. Another website you will use often is Etherscan for seeing the actual sending of ETH or tokens as it happens on the blockchain. It is pretty sweet.

Trading and Buying Digital Currency Is Risky and Sometimes That Is What Makes It So Much Fun. Always Do Your Research and Due Diligence. You are in control of your currency if you screw up there often isn’t any way to recover funds or accounts. Be smart and don’t buy currency based on emotions. Learn to read charts and trust your gut. This is not financial advice and you should seek the services of a competent professional when in doubt.

EnjoyBeingOnline

How To Buy Ethereum With Real World Money In Today’s World.

For anyone who has ever traded a cryptocurrency you know the thrill that comes with it. New people wanting to get involved with Bitcoin or Ethereum, the number 2 traded digital currency traded by volume, in the world knows that buying the currency to begin with, can be a rock solid barrier of entry.

Each country has different rules and the way they see cryptocurrency is a big part of the problem. In my honest opinion, no government regulation or oversight is best in a free market environment,however, if governments are going to get involved and pass legislation restricting its use or purchase they should at least understand what it is and actually use it. Millions of people around the world trade it daily similarly to stocks, while at the same time many people also exchange it for goods and services much like swiping a credit card.

There really isn’t a greater feeling in the world than truly learning about Ethereum and creating a wallet address for the first time and sleeping with the private key under your pillow in what they call a paper wallet scenario. When you take that first leap and send some ETH to another wallet address for the first time the anticipation and suspense has a level of first time at a carnival level of excitement.

What you might expect to happen or how your mind uses past experiences and things it already knows and understands to process what all happens is a surreal feeling. Some might not have the quiver up the leg as I do when I send Ethereum or Ethereum based token like Stish, but for those that do you know what I mean. Sending digital currency that has real buying power in seconds to anyone around the world is EPIC! I buy ETH from one website and then I can make purchases across hundreds of businesses for various products and services and not worry so much about my bank account being drained tomorrow. Ethereum and Ethereum based currencies are way ahead of its time.

Trading currency much like someone might trade stocks is also another fun way to interact with Ethereum based tokens and Ethereum. Ethereum is very unique in that to make trades or transactions a small amount of the ETH currency is required. At first you might be put off by this but this is really paying for a whole level of security that is often overlooked.

Scammers will often flock to fee free currencies and attempt to manipulate prices and do other shady scammy things. That is just what scammers do. When using Ethereum and ETH based tokens this can happen but is less likely to happen due to these small transaction fees. It would be expensive to manipulate a currency’s price and that lends to more protection for traders and currency users and merchants accepting Eth or Etheruem based tokens like Stish.

We could talk for days about how much fun it is to use Etheruem and Ethereum based tokens but if we didn’t mention Saturn.Network we would not be doing this article justice.

If you have been trading for any time now you likely use a centralized exchange. These places once you look under the hood do need some serious regulation. They are often set-up similar to forex trading websites or stock trading websites which in a way makes sense as for most of the early days of crypto only computer developer types and financial investor types had access and tools to get involved and this is what they were familiar with.

The big scary thing about centralized exchanges is that you have to send your digital currency to them for holding while you make trades etc. Just look up “MTGOX” to know how bad this could be! We could give you a million reasons to avoid centralized exchanges unless you absolutely have to use them. From Market Manipulations, To Excessively Long Hold Periods, Of Your Funds, To Crazy Unvalidated Trade Fees or Exchange Fees Etc. Many centralized exchanges if you really understood what they were doing you would never use again. I might right an article soon and share their dirty little secrets soon. It will blow your mind.

Todays crypto traders are different. Many of them are first generation users. Some are the same profiles as mentioned before but often they are a younger tech savvy group of people that expect quick, fast, transparent experiences online. This is what makes the Saturn.Network so unique to me, as they capture what I imagined a cryptocurrency trading platform of the future would look and feel like.

Being a true decentralize exchange the Saturn team makes it super easy for people to trade digital currencies online. Currently they offer Ethereum Classic Based Tokens and Ethereum Based Tokens. More are planned in the future and I’m confident you will be pleased when you compare.

So How Do You Buy Ethereum Online Today So That You Can Have Fun Like Me?

There are several things that you need to know and understand before you go willy nilly buying currency of any kind online. Your wallet address you can share with people so that they can send funds, but NEVER EVER SHARE YOUR PRIVATE KEY!

There are many places to create ETH wallet addresses which you will need to send and receive ETH and ETH based tokens. They are not all created the same and may not all work the same. Remember earlier when I said centralized exchanges do some shady stuff. Well this is one of those times you need to know about them for sure. If you are using an Exchange Ethereum wallet address created for you by one of them then you are kind of in trouble. You can’t use that wallet address to receive all of the Ethereum based tokens available or Ethereum Classic. But with a real Ethereum wallet address you can! 

The easiest way for most to create an Ethereum wallet that they have full control over is by adding an extension to their internet browser called Saturn Wallet or Meta Mask Extension/plugin. Most browsers such as Firefox, Chrome, Brave allow users to add plugins or extensions to their browser to add more functionality. Saturn Wallet and Meta mask are hands down the fastest ways to get started and create a wallet address.

Ethereum wallet addresses will always start with 0x which is a quick way to make sure you are sending to an Ethereum wallet address. Sometimes friends might say, “send
some Stish or Send me some Eth!” but give you a wallet address that is for bitcoin or waves or whatever they found. Eth based wallets look like this:
0x05d64e3a592799af97a9b6c67d03fcfed26103fd

These are my top spots to buy Ethereum Online and what to expect when buying Ethereum

If you read above and made it this far then you know you need a wallet address for Ethereum in order to buy Ethereum because relying on exchange wallets will one day cause you problems and I will explain more about this below in the exchanges to avoid at all costs.

If you are based in the USA it has become more and more difficult to simply buy digital currencies with your credit or debit cards. This is really the whole reason for this article to help users discover more places to buy crypto that are outside the normal places they might buy from.

For many Coinbase or Changelly might come to mind. These are both larger companies that advertise a lot and we have used in the past and even suggested our users use from time to time. They were relatively quick and convenient options at the time and customer service was important to them. But keep in mind that all centralized exchanges are dangerous and should be avoided when possible.

We have discovered some better options for all to choose from!

Recently on a quest to buy Ethereum fast with a credit card or bank transfer I came across website after website that would not allow USD transaction from and American citizen. Additionally I came across many that I believe were out and out scam website. We applied for tons of websites and often went through a process only to find out that we could not actually buy crypto on their website. It was very troubling and many people would just give up and quit trying to buy ETH online with a credit cart.

Having trading digital currencies for some time now and used nearly every available website online I was beginning to think that the real adoption of crypto currency wasn’t anything that the talking head have discussed on tv or podcasts etc, but was a lack of will by the consumer to jump through a million hoops just to buy what is being sold. No other product or service on earth could withstand such lack of product to consumer mistakes. However, cryptocurrencies and that includes ETH just have missed the mark on providing adequate availability to consumers.

The first place on our list of places to purchase ETH and other mainline cryptocurrencies with a debit or credit card is Coinmama.

What To Expect when trying to buy cryptocurrency online now?

One of the big selling points of most cryptos is that you can stay anonymous and I would like to cry bullcrap on this. There is hardly a way to buy any major crypto on the market today without divulging your Driver’s License, Passport, Or other government issued Identification. Plus if you are buying with credit or debit cards you also have to enter all of your billing information like NAME, Address etc.

This is what you can expect at CoinMama also. You will have to provide a valid Identification card and actually upload a picture of it. You will also have to Write a Note And Take A Selfie and upload this also. Is it a hassle? Yes but it does provide some security and I seen this in the actual Costs to buy ETH online with a credit card. They also offer other major currencies for sale like LTC/Litecoin and BTC/Bitcoin along with XRP/Ripple and a few more.

The only thing they are missing is ETC/Ethereum Classic but there are many places where you can convert from a major currency to another currency easy enough but it does put you at risk because they are primarily all centralized options. Compared to very other platform online We have gotten the best rate of exchange for USD to ETH from CoinMama.

The best thing about CoinMama is that you do not use their wallet address and must provide your own wallet address. At least for ETH this is how it is and how it should be. You don’t want someone else in control of your money ever. Remember, Never Ever Share Your Private Keys Period. 

The bad thing about Coinmama is that it does take about 24 hours to be approved to purchase from them. In comparison to other websites this is very good. We would love for the industry to instantly verify and the technology is available to do this but no one has adopted it yet.

Quick Summary Of CoinMama Review To Buy Eth with a Credit Card Fast.

  • You create an Account
  • You Get Verified Which takes about 24-48 hours
  • You Create an Ethereum Wallet that you control while waiting to get verified.
  • You Select How Much ETH to buy
  • You enter your Eth wallet address
  • Stay on the page until it tells you the order was a success.
  • See ETH in your wallet using Saturn Wallet or Meta Mask in about 30 Minutes.
  • It is a wait but it is the shortest wait and the easiest way to buy ETH hands down.
  • NON AFFILIATE LINK – https://www.coinmama.com/buy
Super Fair Trades Of USD to ETH on CoinMama!
With Coinmama, you can skip complex processes like mining and just buy cryptocurrency securely with your credit or debit card.

If you are looking for other currencies to purchase including ETH then this might be a good alternative to Coinbase.

Let me preface this section with a statement of why I spent 8 days trying to find ways to buy ETH in the first place and how this post never would have happened if not for one idiot at coinbase. Suddenly after over 1 year of doing business with coinbase I purchased some crypto and to my surprise was unable to do anything with it. Coinbase had put a hold on my ETH for 14 days. After messaging them and getting canned responses I took to twitter and facebook and messaged their cofounder. I did get a real person to respond this time and was able to submit my account for review.

On day 9 I was informed that for security reasons my ETH was being held for 14 days. My USD had already directly transferred from my bank account the same day I purchased the ETH. After waiting 5 Days and watching ETH about to crash back down I sold it for a small profit and still my USD were on hold. This is unacceptable business practices to me and so I wrote them a letter and now warn all of our users and others about the dangers of allowing someone else to handle your money. It is not out of spite or anger but alarm that I write to them and you.

My Funds Have Yet To Be Released So During This Time I worked hard to find the best alternatives to coinbase that I could find. There had to be a better more secure way to purchase cryptocurrency online with credit cards.

Which Company Beat Coinbase Hands Down?

I am not a paid spokesman for any company listed here and are only stating honest opinions based on my experience with each so far. My opinions and influence on hundreds of thousands of people could possible change but I’m not sure at this point what would help me change my mind.

We found Gemini which is a lesser known platform in the USA but is possible superior to any other as far as being secure goes. Gemini is a licensed digital asset exchange and custodian. You can buy, sell, and store digital assets in a regulated, secure, and compliant manner.

We found Gemini to be comparative to Coinbase on every front. Users do also have to verify their Identity and it can take several days to accomplish this because so many people are joining up. Once your account is approved it is easy to add funds and start using their service.

Like coinbase they do have fees that you should read about before signing up. They are a centralized exchange and I know that I stated to avoid them whenever possible sometimes you do need to use them and Gemini so far appears to be the best of what a centralized exchange has to offer.

What I disliked about Gemini is that after 3 days I am still unable to add my bank and routing information and cannot find out why. Others are also asking why they can’t add their banking routing numbers and this might be an issue where they also will not allow USD customers to use their services. Other than not being able to buy ETH with USD due to my bank not being listed and their manual way to add it not working the exchange is pretty nice.

Since I can’t use it 100% the way I want to use it at the time of this article I cannot give you a full review of Gemini. But it does appear to be a comparative to Coinbase and for most US customers likely a better alternative.

Crypto Critic Roubini: Trump’s ‘Flirting With Mutually Assured Economic Destruction’

In an article published on MarketWatch, crypto critic Nouriel Roubini asserted that the risk of a financial crisis has grown significantly, mainly due to President Trump. While stock market indexes grew 20% in 2017, markets have been trading sideways for a major part of 2018, followed by steep drops across several sectors as markets closed for 2018.

Roubini stated that the growth in stock markets over 2017 can be attributed to tax cuts, which have accrued mainly to corporate entities. Secondly, the trump administration is ambitious towards deregulation within certain sectors. Apart from this, Trump has also gone after the Fed, which recently hiked their rates by a quarter point.

A professor of economics at the Stern School of Business at NYU, Roubini said:

Trump is now the Dr. Strangelove of financial markets. Like the paranoid madman in Stanley Kubrick’s classic film, he is flirting with mutually assured economic destruction. Now that markets see the danger, the risk of a financial crisis and global recession has grown.

Roubini Is Fervently Anti-Crypto

He made headlines when he bashed cryptocurrencies and bitcoin in general, stating that “Crypto is the mother or father of all scams and bubbles,” along with other severely dangerous claims, even going as far as taking a shot at stablecoins – which have gained steam throughout 2018.

And the biggest scam of all is the case of ‘stable coins’ – starting with Tether – that claimed to be pegged one to one to the US dollar but are not fully collateralized by an equal backing of true US dollars.

Roubini previously testified before the United States Senate Committee On Banking, Housing, and Urban Affairs, and subsequently got into a heated debate against Ethereum creator Vitalik Buterin. He also falsely claimed that crypto is centralized.

Markets have had a shaky close toward the end of 2018, which is mostly attributed to uncertainty surrounding China. However, Roubini states that recent troubles are due to Trump. Tax cuts have pushed the Long-term interest rate. Moreover, Trump’s immigration policies might affect the growth of labour-supply which can have grave implications, given Silicon Valley’s dependence on foreign talent

The crypto community’s distaste in Roubini cannot be denied. He, however, predicted the financial crisis of 2008, that occurred due to the collapse of the housing market, which compels anyone to take his claims seriously. According to Roubini, almost all of the tax cuts accrued to the corporate sector, which isn’t a good sign. Secondly, US Sanctions against Iran pushed Oil prices up.

This was followed by Saudi Arabia ramping up their oil production at the behest of Trump, which resulted in a steep decline in oil prices.

The volatility caused by this indirectly affects US Energy based companies. Moreover, the volatile price of oil has severely impacted consumption and production.

Roubini also asserted that a full scale trade war with China cannot be ruled out, and if it does happen – will have a grave impact on the economy, along with disrupting supply chains worldwide.

Featured image from Shutterstock.

We are hiring full-time and part-time journalists based in the United States. Ideal candidates will have extensive knowledge of traditional markets and/or the cryptocurrency industry. Apply for a position here.

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https://www.ccn.com/crypto-critic-roubini-trumps-flirting-with-mutually-assured-economic-destruction/

How to Last the Crypto Winter? Seek Simplicity, Manage Complexity

Jake Yocom-Piatt is the Project Lead for Decred, a hyper-secure, adaptable and self-funding digital currency.

The following is an exclusive contribution to CoinDesk’s 2018 Year in Review.

2018 year in review

In 2018, we have seen the cryptocurrency market cap go from all-time highs in January to falling over 80 percent by December, despite little changing in the context of the technological fundamentals.

If little has changed with the fundamentals, then there must be other factors driving the manic buying and panic selling cycles present in these markets? A persistent pattern I have observed in the context of investors and projects in the space is one of information asymmetry.

This information asymmetry manifests itself in various contexts, e.g. either being a very informed or a very uninformed investor, the ability to determine if a project has overpromised on its technological deliverables or not. Another way of viewing this asymmetry is that it arises from hidden complexity, whether we’re talking about perceiving the value in an asset or implementing a new piece of software.

While I can describe bitcoin in a single phrase as “gamification of time-stamping,” describing and delivering a working system that implements that concept is a serious technical challenge.

With Decred, we experienced this hidden complexity firsthand while building Politeia, a time-ordered filesystem, for use as our proposal system. Making cryptocurrency markets less volatile and projects more substantive is a matter of doing what we can to eliminate the information asymmetry that arises from technological complexity, both with investors and software alike.

Complexity for Investors

I have observed a very bimodal distribution when it comes to the extent to which cryptocurrency investors are informed. There is a minority that is incredibly well informed and a majority who are quite uninformed.

This knowledge gap often benefits the well-informed at the direct expense of the uninformed, so the former are incentivized to maintain this arrangement. Similar to many other markets, the less-informed chase the carrot of easy profits dangled in front of them by the better-informed. When this herd-like behavior is combined with relatively thinly traded markets, it creates serious volatility, which has much in common with over-the-counter (“OTC”) stocks.

The perception of value drives investor decision-making, so the collective psychological state of investors determines the value of an asset. Unlike many other assets, cryptocurrency fundamentals do not change substantially as a function of time. This constancy of fundamentals is a major driver for using cryptocurrencies as a store-of-value (“SoV”) over longer timescales.

It is this SoV property that separates cryptocurrencies from OTC stocks, and it drives a longer timescale periodicity that is not present in most OTC stocks. Many uninformed investors are keen to buy low and sell high, capturing a profit in fiat terms, whereas well-informed investors understand the SoV property is a longer term play, which incentivizes them to buy low and avoid liquidating their positions.

Informed investors using cryptocurrencies as a SoV fuel these longer term boom-bust cycles, so episodic spikes in valuation occur without the value crashing to zero after each manic buying phase.

Complexity for Projects

After managing several software projects over the past decade, I can say that, even as someone who participates on a technical level, it is easy to overpromise on deliverables.

The main driver of this disconnect between promises and quality working code is the hidden complexity of the cryptocurrency development process. Over the past few years, I have seen many projects make massive promises and raise staggering amounts of capital in ICOs and similar processes, only to not deliver, deliver incredibly late or deliver barely-working software.

Similar to the situation for investors, projects have a bimodal distribution of technical ability: a minority that keeps their promises roughly in line with what they can realistically deliver and a majority that grossly overpromises on a regular basis. Overpromising on software deliverables is often the result of a combination of underestimating the complexity of cryptocurrency software and conscious overstatement on part of project leads.

Because the domain of cryptocurrency software is still rather new and complex, there are correspondingly few people who are well-suited to understand what can and cannot be achieved in a particular amount of time, on a technical basis. So, a project may make some really impressive claims about what it will achieve, but when there are so few people who are capable of realistically assessing how feasible the claims are, it incentivizes malicious actors to bait-and-switch investors.

Numerous projects that have been funded on a bait-and-switch basis have seen their valuations collapse throughout 2017 and 2018 once investors become aware they are unlikely to deliver on their claims.

Complexity in Practice

As the Project Lead for Decred, I am familiar with the process of dealing with complexity from a technical and management standpoint, and our off-chain time-ordered filesystem, Politeia, serves as a good example for how hidden complexity can delay even seasoned development teams in the space.

Our goal was to have Politeia in production as our proposal system in roughly 12 months from the start of the project in April 2017, and we didn’t go into production until six months after the projected date in October 2018. Despite building on top of a working versioned filesystem, git and attempting to avoid complexity, it still took several additional months to get the metadata formats just right and have the frontend perform suitably.

Politeia is based on a pretty simple idea “create an off-chain store of data where you can demonstrate who said what when using cryptography and an existing blockchain.”

Once you split this apart into its components, it doesn’t seem very difficult:

  • Make episodic self-contained timestamps using the Decred blockchain
  • User identities correspond to keypairs in a PKI system
  • User messages are all signed by the corresponding identity private key
  • Up and down votes are a special form of user message
  • Tracking user ticket votes based on snapshots of the Decred ticket pool

This list is pretty short and each component is relatively simple, but handling the edge and corner cases that arise between these components quickly becomes non-trivial. Despite the final working implementation being complex, it can be described as a handful of simple components that even less-informed market participants can understand.

Simplicity for Investors

There are myriad ways to become a well-informed cryptocurrency investor, but after making my own missteps, I have a few simple policies that can help cut through some of the complexity:

  • Stay skeptical – When someone makes extraordinary claims, they need to supply extraordinary evidence. If any claim made by a project sounds too good to be true, see what someone external to that project has to say about it, and attempt to understand more about how they will deliver on their claim.
  • Do your own research – There is no substitute for doing some self-directed research about a project before investing in it. Even in my case, as someone who has been working in the space for almost six years, it still takes me several hours to do a good job footprinting another project and understanding their value proposition in some detail. Are there other projects that serve a similar niche? What makes this project better than others in the same niche?
  • Dollar-cost averaging – Not everyone has the ability to dictate the schedule on which they acquire cryptocurrency, but I recommend considering a dollar-cost averaging approach, where you make regular purchases over a longer time period. It is challenging to buy at a local minimum price, so rather than load up at single price, you purchase regularly over a wide range of prices. This way, you are not beholden to the psychology of having bought everything at a single price, and you can lower your average acquisition cost by buying as prices drop.
  • Psychological periodicity – As discussed above, there is a periodicity present in cryptocurrency markets that is not present in other similar markets. Before investing, consider that you may have to wait several years for the market to cycle to a point where you have made a good investment. 2018 has had a lot of similarity to 2014 in that all-time highs occurred near the start of the year and markets have sold off in stages throughout the year. For much of 2015, BTC/USD was in the 200s and this was an excellent time to acquire Bitcoin. I suspect 2019 will be similar to 2015, where valuations stay depressed and the market consolidates throughout the year.

Simplicity for Projects

Overcoming the complexity barrier between promises and implementation for cryptocurrency projects is challenging. Here are some policies that have served me well:

  • Avoid overpromising – It is easy to be coerced or otherwise convinced that you need to make huge promises to generate interest in your project, financial or otherwise. If you care about not looking like a doofus later on, make a point to reflect on whether or not your promises can be delivered on before making them publicly. In my case, this has meant not publishing projected completion dates for work because I am often wrong about when it ends up being done, e.g. Politeia. Managing expectations matters.
  • Avoid complexity – Once you have some established promises or have otherwise chosen a path forward to address a technical problem, do what you can to avoid complexity and still achieve your goal. Cryptocurrency software is often, as a function of the domain, quite complex, so it especially important to keep things as simple as possible. Less complexity means you are more likely to deliver your software sooner.

Conclusion

By working together to increase our collective comprehension, participants in the cryptocurrency ecosystem can take many steps to help reduce market volatility, create more substantive technology, and efficiently educate newcomers.

If 2019 is anything like 2015, the cryptocurrency market is in a consolidation phase, and the next several months will continue to shake out underperforming projects. Very little has changed with the fundamentals of the space, despite the pullback in valuations, so I expect a continued and bright future for cryptocurrencies in 2019 and beyond.

Have an opinionated take on 2018? CoinDesk is seeking submissions for our 2018 in Review. Email news [at] coindesk.com to learn how to get involved.

Cracks in the ice via Shutterstock

How to Last the Crypto Winter? Seek Simplicity, Manage Complexity

Corporate and Government Blockchain Use | Is it Really Being Used? If So, Why?

Government Blockchain Use

In the past few years, the public perception of blockchain has shifted from being an esoteric, little-understood technology to nothing short of a revolution that may define the future of the internet. We have been seeing massive venture capital being pumped into blockchain startups for a while now and blockchain based startups are now finding footing even in Asia and in emerging economies across the world.

Research shows that blockchain and blockchain startups globally received around $1.3 billion in investment capital in 2018 (since May). However, blockchain now brings with it a “fear of missing out” and everyone from tech giants to Fortune 500 companies to country and state governments want to be seen as adopting blockchain technology in a big way. Let’s talk about how major companies and governments are implementing blockchain solutions and whether it will lead to a long-term technology transformation for these institutions.

How Major Companies and Governments are Adopting Blockchain Technology

Corporations are starting to wake up to the need to invest in blockchain. It’s expected that corporate spending on blockchain software will reach $2.1 billion in 2018, up from $945 million in 2017.

Visa

One of the major uses of blockchain technology is bringing down the costs of international payments and money transfers by replacing a third party intermediary with a decentralized, trustless system. It’s no wonder that Visa wants to get ahead in the blockchain game and use the new technology to change its business model and retain market leadership.

Visa has filed as many as 17 blockchain patents. One of its important patents (patent number 20170237554A) describes the foundation of a fast and secure way to store and transfer digital assets of substantial value. In December 2017, Visa launched its B2B Connect platform based on this patent. This platform aims to reduce the friction and high cost of high-value international transactions. It is currently in its testing phase. Visa clearly takes the potential of blockchain technology and its future very seriously and the hype around its blockchain strategy is backed by substance.

Walmart

Walmart’s “Farm to Fork” blockchain project, launched in 2017, is a system that will help Walmart determine where the bad food came from once a product is recalled. This is expected to massively improve food safety standards, reduce food consumption related diseases, and reduce costs of waste.

Walmart now uses this blockchain to maintain the supply chain ledger for 30 products. The process is simpler and more secure than the barcodes, scanners, paper forms, and individual databases Walmart usually uses. For every 1% reduction in food-borne diseases in the United States, that’s a saving to the U.S. economy of about $700 million,” said Frank Yiannas, head of food safety at Walmart. The blockchain system takes 2.2 seconds to trace the origin of sliced mangoes, verses 6 plus days using other systems.

Air France

Air France started examining the possibility of applying blockchain technology to optimize aircraft maintenance workflows in 2017. It believes that the main advantages of blockchain – resilience, traceability, integrity, and disintermediation – are well suited to the aviation supply chain.

However, when it comes to making a complete switch to blockchain based systems, Air France has a major obstacle in the way. Most airline data is still maintained on paper, so Air France will first have to move towards digitization of data before it can implement a blockchain system with any kind of efficacy.

Estonian Government

The Estonian government has been one of the pioneers of blockchain implementation, starting as early as 2008 before the term blockchain was even coined. The E-Estonia program uses blockchain to integrate all Government services on one platform. The blockchain ledger protects sensitive data from the healthcare, judiciary, legislature, security, and commercial code registries from corruption and misuse.

They have also developed a blockchain-based security system called KSI which can function even under constant cyber attack. Estonia is a prime example of a proactive government that has persevered with blockchain implementation for a long time.

State of Delaware

The state of Delaware launched the Delaware Blockchain Initiative in 2016 which enables a more efficient governance structure for the 30,000 companies that are incorporated in the State. The government hopes that this will give the state a competitive edge and encourage more companies to be incorporated in Delaware.

However, the state has been slow to implement the initiative. This could be (at least partly) because the initiative would make agencies who make their living from company filings redundant. The government may be hesitant to implement this disruptive technology due to the potential job losses it could cause.

The European Union

Counterfeiting costs the European Union almost €60 billion every year. The EU Intellectual Property Office and the European Commission are working on a blockchain based solution to combat counterfeiting.

They are now in negotiations with a private company that can create blockchain based working products to deal with counterfeiting. It remains to be seen what the final solution will look like and how effectively it will deal with widespread counterfeiting of products all over the EU.

Blockchain Implementation by Corporates and Governments – Reality or Hype?

The major rush to announce blockchain projects to the media and jump on the blockchain bandwagon that was seen in the past two years has now cooled off significantly. According to Forrester Research Inc, a number of blockchain projects will be wound down this year, and many companies are scaling back on blockchain pilots that they were pushing aggressively just last year.

In 90% of the cases, blockchain experiments never become incorporated in the operations of the company. A survey of CIOs by Gartner Inc said that only 1% of them were implementing blockchain projects in their companies while 80% of CIOs said they had no interest in the technology. Other studies have shown different results, but similar sentiment… a majority of corporations surveyed say they don’t plan on using blockchain technology.

A major reason for this disconnect between hype and reality is that most companies had thought that it would be easy to find use cases for their blockchain projects. They are now realizing that introducing blockchain requires broad collaboration with many industry participants and scalable implementation could take 5 to 10 years instead of the 2 to 3-year horizon that had been expected.

The Future of Blockchain Implementation in Governments and Large Companies

While blockchain implementation among corporates and governments has seen a bit of caution throughout 2018, it seems to be a natural course correction after the exuberance and hype of the past couple of years.

Big tech players like IBM and Microsoft continue to invest heavily in blockchain software and have captured over 51% of the $700 million market for blockchain products. While there has been a tempering of enthusiasm when it comes to implementation of blockchain, and many companies are still testing the waters, it is widely believed by blockchain backers that there will be an upswing in blockchain projects next year and that the optimism of governments and companies will definitely return in good measure.

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Bitcoin Network Loses Nodes and Difficulty, Militants Use Crypto In Struggle to Secede, NYU Professor Goes Off The Rails, and More: Last Week In Crypto

Bitcoin Price Recovery Alongside Network Changes

The Bitcoin price came back from the brink this week, reaching nearly $4,000 by Sunday. Analysts were at times throughout the week worried that it would lose support around $3,400 and then drop beneath $3,000, but this hasn’t happened.

At the same time, however, two important Bitcoin network metrics saw reduced performance over the week. For one thing, mining difficulty – which signifies the number of miners on the network – dropped by 7% during the week. David Hundeyin explained:

In the light of the bitcoin blockchain’s reduced hashrate caused by withdrawing miners, the network is designed to automatically adjust the difficulty level in order to avoid a situation where there is a huge transaction confirmation backlog and high confirmation fees. The 7 percent drop in difficulty is likely to be the start of a similar difficulty readjustment pattern as bitcoin below $6,000 increasingly becomes a prolonged reality.

The number of reachable Bitcoin nodes also dropped, meaning that a number of people have shut off their full nodes. This number is harder to discern, as not all full nodes are mining nodes, but certainly the miners no longer mining are represented in this figure. As CCN writer David Hundeyin wrote:

A falling number of reachable nodes could theoretically lead to increased centralization of the network if fewer and fewer entities control the remaining full nodes. Overtime if unchecked, this could at least on paper lead to 51 percent attacks and the nightmare scenario of double spends which would destroy the credibility of bitcoin. While this is obviously very far from happening and realistically not very likely, it does illustrate the impact of the continued bear market on the bitcoin blockchain.

Survey Shows 3% of Americans Ready for Blockchain Banking

A survey conducted by an ICO-funded blockchain banking solution found that 3% of American Internet users are ready to use blockchain banking. Over a third of those surveyed would be willing to try blockchain banking solutions if they felt they were ready, which they did not at the time of the survey (early December). More than 60% of those polled (over 3,000 people) were not interested in blockchain banking at all, not seeing any value in it.

Elsewhere, a poll by the Bank of England showed users preferred cryptocurrencies in remittances.

Six New Bitcoin ATMs Installed Every Day in 2018

CCN’s Alan Wass noticed that an average of six new Bitcoin ATMs were installed every day in 2018:

One of the most startling figures to come from the Data Light statistics is that six cryptocurrency ATM machines were installed per day on average in 2018. One of the main ingredients of wider crypto integration and adoption is the availability of crypto for the masses, and that is exactly what the increase in ATMs shows.

Ambazonian Secessionists Give Exclusive Interview to CCN

CCN’s David Hundeyin obtained an exclusive interview with Cameroonian militants who are attempting to establish their own country called Ambazonia. Chris Anu, the militant movement’s Secretary of State for Communications and IT, said:

Cryptocurrency is freedom! It takes away control from centralized power and gives the power to the people and the private sector. It is independent of the control of a centralized government structure. Cryptocurrency is the next logical step in the evolution of fiat currency!

Nouriel Roubini frequently blocks anyone who disagrees with him on Twitter, including CCN writer Samantha Chang, who authored some coverage of the tweet-storm.

NYU Professor Nouriel Roubini Throws Twitter Tantrum

Nouriel Roubin, an economics professor at New York University, decided to go on a multi-tweet rampage on the subject of cryptocurrencies, of which he is a major critic. The professor frequently blocks anyone who disagrees with him on Twitter, including CCN writer Samantha Chang, who authored some coverage of the tweet-storm.

Global Regulatory Push

Multiple jurisdictions had news on the regulatory front this week. Also, former presidential candidate Ron Paul finally embraced Bitcoin and said the US should switch to it from debt-backed fiat.

Brian Armstrong Commits Most of His Wealth to Charity

Coinbase CEO and crypto billionaire Brian Armstrong has publicly announced that the majority of his wealth will be donated to charity over the course of his lifetime. Armstrong said:

This year, I started my first philanthropic effort, GiveCrypto.org, which makes direct cash transfers to people living in poverty. I’m excited about the potential for this organization to help people, but I’m still early on my journey of discovering how to have the most impact via philanthropy.

Bithumb Accused of Faking Volume

CCN received and reported on a detailed study regarding South Korean Bitcoin exchange Bithumb, which is alleged to have faked volume consistently over the course of 2018. Faking volume is an increasingly common allegation as regards crypto exchanges, but in the case of Bithumb, the researchers went to great lengths to justify their claims.

Upbit Denies Fraud Allegations

Fraud charges have been filed against South Korean excahnge Upbit, but they are denying all allegations. As CCN’s Mark Emem wrote:

According to the Financial Services Commission of South Korea, Upbit’s senior executives used a bot to manipulate the data processing system which consequently inflated the trading volumes. Additionally, it has also been alleged that underperforming coins on the cryptocurrency exchange were targeted and this was with the goal of assisting the platform and the issuer to save face by making it appear more popular and enjoying high demand than was really the case.

90% of All Monero Has Been Mined

Monero

Over 90% of the fixed supply of Monero has been mined, meaning that only 10% of the mining reward remains. Monero has a “long-tail emissions” policy in which every block after the mining has finished will yield a smaller amount of XMR than the mining rewards did. CCN’s Yashu Gola reported:

Per data available at MoneroBlocks.info, a Monero blockchain explorer, the privacy-enabled cryptocurrency have emitted close 16.6 million XMR. As the emission forms parity with the total supply, the Monero project will switch to a new supply program, dubbed as tail emission. The project’s earlier announcements indicate that miners will obtain a consistent mining reward of 0.6 XMR per block that would likely maintain the overall security and integrity of Monero blockchain.

Images from Shutterstock.

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Why Traders Say Volume Is Crypto Price Indicator of Choice

When it comes to analyzing markets, developing your own trading style can be the difference between a successful trade or financial pain.

Traders utilize a variety of indicators in order to add layers of confirmation to their bias in order to get the most accurate results. But what if you could only choose one indicator to use for the cryptocurrency market, what would it be and why?

A poll recently conducted by CoinDesk Markets revealed that volume was the indicator of choice for 39 percent of respondents, while the Relative Strength Index (RSI) came in second place at 29 percent of the total vote.

The poll elicited some great responses for alternatives such as Elliott wave theory, divergences and the stochastic oscillator, which are useful in their own right but are highly dependent upon an individual’s technical charting style and experience.

We reached out to some prominent cryptocurrency traders and chartists to see what they thought was the one indicator they couldn’t live without.

Matt Thompson, Director of Business Development and Operations at Coinigy had this to say regarding his top pick for analyzing the crypto markets: “Volume is hands down the most important aspect outside of price.”

“Even for many other technical indicators, volume can serve as confirmation or rejection of a given hypothesis,” he continued.

Per definition, volume is meant to describe the total number of shares or contracts over a given period and is usually expressed in a bar chart. Professional traders and chartists use volume to great advantage, following the mantra that if the price falls along with volume, it generally marks a point of exhaustion, signaling a reversal will happen soon.

While conversely, a rise in price with a drop in total volume presents a stronger case for the bears as they drag prices for a lower bid, usually upon meeting a key resistance zone.

Crypto Twitter chartist Josh Rager agrees with that sentiment. “I think volume is a good indicator. Higher price and low volume usually lead to a drop in price,” he said.

“TheCryptoDog,” a prominent Twitter personality and chartist, also backed volume as a “crucial” element in his technical analysis, telling CoinDesk:

“Volume speaks to the sincerity of the price action it is tied to. Volume for me is imperative.”

Putting it to Practice

So, what does using volume look like in practice?

In the chart above, we can see the bitcoin price on Coinbase on December 8. The day’s trading closed mid-candle (during a price movement) at a time when volume was shooting up. If the volume is bullish and moving higher, but the price is dropping, it’s usually is a tell that traders hoping the price will rise are in danger of being trapped and are forced to sell for lower than they entered.

Price action thus turned until another decision was made two days later when on December 10 prices attempted to forge ahead beyond the $3,585 resistance level and were beaten back. A modest showing from the bears plunged bitcoin into a lower channel between $3,257 and then below $3,129 on December 12.

It has since rallied from its low position back to levels not seen in over a week with the backing of strong bullish volume.

A Useful Tool

Volume does have its faults for all its merit, however.

For example, volume on crypto exchanges might not actually represent that buyers will follow-through with an intended purchase. Volume can be faked with what’s known as “wash trading,” a term that refers to when traders put in orders for other traders to see, but withdraw them before they are filled.

It is true that particular exchanges have been caught up in a scandal surrounding true volume being displayed incorrectly, thereby manipulating traders into entering an unprofitable and risky trade.

Traders like Rager, however, believe bitcoin is a rarity among cryptocurrencies in that its market has real liquidity. “I think bitcoin is different,  there is so much liquidity compared to other cryptos,” he said.

Still, there is validity in analyzing bitcoin’s association with total volume on the charts, not least because they provide an additional signal to add to your bias, but because it can signal interest in the asset class as a whole, represented in grandaddy bitcoin’s demand – just be sure to select an exchange that can be cleared of any wrongdoing.

As “TheCryptoDog” puts it:

“If volume diverges from a trend, e.g. price continues to rise while volume falls off, then I start to think, ‘Perhaps this trend is weakening.’”

Disclosure: The author USDT at the time of writing.

River image via Shutterstock; charts by Trading View

Why Traders Say Volume Is Crypto Price Indicator of Choice

Huobi-Backed BHEX Launches Blue Helix Token (BHT)

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James Ju

CCN spoke to James Ju, the CEO of the new Blue Helix Exchange (BHEX) and former CEO of Huobi Global.

Blue Helix is an exchange which is pushing toward a decentralized topology in a regulator-friendly manner. They raised $15 million from institutional investors including Huobi and OKEx by selling equity about six months ago, and last week they launched the beta of their exchange product, along with the BHT token.

Currently in Beta, the Blue Helix exchange offers OTC sales (for CNY) of Bitcoin, as well as a handful of trading pairs including EOS/USDT and ETH/BTC.

Not An ICO Token or ICO-Backed Exchange

The BHT token is not a typical fund-raising option in that people cannot simply make an investment in the network and receive a set number of tokens. Instead, BHT are rewards for buying “points” on the BHEX exchange. These points are then used to secure discounts on trading fees. It’s similar to the Binance BNB token, where for the first few years of the token’s existence, users get trading fee discounts if they choose to pay in BNB.

BHEX sells two types of virtual point cards. One is pegged to USDT and the other is pegged to BTC. The BTC card has each point pegged at .0001 BTC, but since Bitcoin is volatile, the points are first redeemed for that amount of BTC and then used against the trading fees due. This means that at various times points held in the BTC points card could be worth more than they were when they were secured.

When the BTC Point Card is used to offset the trading fee, the trading fee will be converted into BTC according to market price of the assets and then deducted from the corresponding Point Card.

The maximum points that can be purchased during the current period is 27,000 – don’t worry, it’s unlikely you’ll need that many, as that would cost you 2.7 BTC. The reward for buying points is BHT, 800 of the 2.1 billion issued for every 10 points (.01 BTC) you buy. The reward is roughly equal if you use the USDT version.

.0001BTC = 1 Point

Tokens Generate Revenue

Actual BHT that circulate in the free world, free of lock-ups or other delegated purposes, is limited. The company has a full explanation of BHT here. The tokens you would earn buying points cards today come out of the following allocation:

15% of the total issuance, or 315 million BHT, is used to motivate seed users who support the platform. 315 million BHT will be rewarded through platform activities with no lock-up period, while stocks last.

The BHT tokens are issued 80% of fee revenues from the BHEX exchange. Users receive these dividends based on how many tokens they own. Other benefits are associated with holding the BHT token. All of them are predicated on the success of the exchange, which may be why the only way to obtain them directly at present time is through the purchase of point cards, which necessitate a need of such.

James Ju told us that in the future, the platform will be totally decentralized, using technology that BHEX has been developing since its inception.

Everything that centralized exchanges have, we also have it. But we are a decentralized exchange in the sense that – in the future, our assets will be  stored and cleared through a decentralized technology.

The version that’s currently running isn’t fully decentralized, but BHEX is working hard toward this goal. They believe that a decentralized exchange will provide more security for users. In furtherance of this belief they also have BHOP – the Blue Helix Open Platform, which is a Software-as-a-Service product that other exchanges can use. This element speaks to why they’ve received investment interest from major exchanges like Huobi and OkEx.

BHEX Working Toward Fully Decentralized Exchange and Custodial Services

The advantage of decentralized exchanges for users is that they eliminate counterparty risk. Rather than the EtherDelta model, where the user simply connected his wallet to the exchange, the BHEX model will work as a staff member explained to this reporter:

We still adopt a username/password system, considering that if a user loses his private key, it is not retrievable. Decentralization comes into play in our “asset custody:” users store their assets not in their own wallets nor in BHEX wallets. Instead, users deposit their assets on the Blue Helix decentralized asset custody and clearing platform, which is the bottom layer beneath the BHEX exchange. This bottom layer is decentralized and not owned by BHEX exchange.

The other interesting aspect of BHEX is their social trading feature, called Super Guilds. Investors will be able to join a guild if they are invited to do so, and then they can optionally allow the guild to invest their funds for them. This is another way of building interest in the exchange, as it is a relatively unique feature. It formalizes trading groups. To motivate participation in super guilds, BHEX has set aside 3 million BHT which will be used to reward groups that are created.

Volumes have not yet developed in considerable fashion at BHEX, mainly due to its very young age and beta status.

BHEX is very new and thus its overall volume is negligible. However, the crypto exchange world is fast-changing. Binance was just an idea not so very long ago, and now it’s the dominant exchange in the world. There is a growing demand for decentralized exchanges for multiple reasons, and when BHEX launches their fully decentralized product, it would seem that users who have grievances with the existing system of exchanges will want to take advantage of it.

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US Lawmakers Seek Sanctions Against Iran’s Cryptocurrency Efforts

A bill introduced this week in Congress takes a hard line on Iran’s efforts to develop its own cryptocurrency.

U.S. regulators have warned in recent months that Iran’s government wants to use a sovereign cryptocurrency, similar to the petro in Venezuela, to evade economic sanctions.

Portions of the Blocking Iran Illicit Finance Act, introduced by Rep. Mike Gallagher (R-Wisc.), call for a report on Iran’s efforts to create a sovereign cryptocurrency. A corresponding bill was submitted in the Senate by Sen. Ted Cruz (R-Texas). The proposals call for sanctions against those who knowingly provide Iran with funding, services or “technological support, used in connection with the development of Iranian digital currency.”

The move comes in context of the Trump administration’s decision in May 2018 to withdraw from the Iran nuclear deal or Joint Comprehensive Plan of Action (JCPOA).

“Withdrawing from the JCPOA was only the first step in ratcheting up pressure on the Iranian regime,” Gallagher said in a statement. “We now have an important window to impose maximum economic pressure and degrade the Iranian regime’s ability to export violence across the region. This legislation does exactly that by effectively cutting Iran off from the international financial community.”

Iran has been in the news for a number of cryptocurrency-related issues in recent weeks.

Earlier this week an Iranian government official talked up the positives of embracing blockchain. Cheap electricity in the Islamic Republic has made Iran a hot destination for bitcoin mining farms.

Meanwhile, recently-released U.S. sanctions have ensnared Iranian bitcoin traders, one of whom later told CoinDesk that he’s innocent.

Iranian rial image via Shutterstock

US Lawmakers Seek Sanctions Against Iran’s Cryptocurrency Efforts

Coinbase President: Despite Bitcoin Price Crashes, 2018 was an Innovative Year

bitcoin price

Crypto players from around the globe are chiming in on the direction of the Bitcoin price in 2019. Will it continue to see price crashes? Or will the current recovery continue? Better yet, has the industry had a good year and will it continue to have significance in the new year?

Earlier in the week, we heard from bears, like Erik Finman who called Bitcoin “dead;” and we heard from Spencer Bogart, a Bitcoin bull, who not only said BTC will continue to rise, but that 2018, contrary to popular belief, has been one of the best years for the cryptocurrency.

Today, word surfaced that the President of Coinbase, Asiff Hirji, believes something similar to Bogart.

2018: A Good Year for BTC, Despite Bitcoin Price Crashes

Despite the crashes experienced in 2018 (such as the bearish run that sent the Bitcoin price to a low of $3,200), Asiff Hirji believes BTC is recovering.

In his interview with CNBC’s Fast Money, Hirji said this recovery isn’t surprising and that it’s likely to continue into 2019. That’s a statement in complete opposition of the thoughts of Erik Finman. “Some things are never as good as they seem,” said the Coinbase President, “and never as bad as they seem.”

During the interview, Hirji spoke on the performance of the crypto market in the last year. According to Hirji, there’s been more innovation this year in the market. “We’ve never had as much innovation as we have today,” Hirji explained, citing, for instance, how cryptocurrencies are getting more visible.

>> Facebook Cryptocurrency: Is the Tech Giant Developing a Stablecoin?

Spencer Bogart, also during a Fast Money interview, spoke on something similar, calling 2018 a “fantastic year” for BTC, despite the Bitcoin price crashes. Speaking also on innovation, Bogart said this year is the first time we have scaled the digital currency “with a lightening network,” making transactions quick and cheap.

Bitcoin Price

At the time of writing, the BTC price is $3,905.13.

Bitcoin price
Source: CoinMarketCap

The Takeaway

It’s vital to take comments such as Asiff Hirji’s into consideration. While it’s easy to oust BTC from your mind due to the recent Bitcoin price crashes, we must also recognize the good that occurred during the year, such as an increase in innovation.

What do you think? Let us know in the comments below.

Featured Image: Depositphotos/Piter2121

Autonio Welcomes Stan Larimer to Our Advisory Board

Facebook Cryptocurrency: Is the Tech Giant Developing a Stablecoin?

Facebook Cryptocurrency

Facebook (NASDAQ:FB) is reportedly developing a cryptocurrency that will let users send money via its WhatsApp messaging app. The new cryptocurrency would launch first in India—a country with over 200 million Whatsapp users and the world’s leader in sending money home.

Facebook Cryptocurrency

According to Bloomberg, the company is creating a stablecoin, a digital currency that is pegged to a fiat currency—often the US dollar. These types of cryptocurrencies are supposed to be less volatile than regular cryptos.

Though not nearly at a launch stage, sources say that Facebook is currently working on the strategy “including a plan for custody assets, or regular currencies that would be held to protect the value of the stablecoin.”

First Blockchain, Now Crypto?

The company has been very hush-hush about its blockchain initiatives. However, what is known is that Facebook has already hired 40 members for its blockchain team. A spokesperson gave little away but confirmed the company’s plans to move in this direction:

“Like many other companies, Facebook is exploring ways to leverage the power of blockchain technology […] This new small team is exploring many different applications. We don’t have anything further to share.”

The company also hinted at movements into the financial sector when it hired David Marcus to lead its Messenger app team in 2014. Marcus was the former president of PayPal. He then moved to lead the blockchain initiatives team in May of this year.

>> Bitcoin Cash (BCH) vs. Bitcoin SV (BSV): The Race Continues

Stablecoins

There has been a surge in popularity for stablecoins this year. The most high-profile stablecoin is also the pioneering one—Tether. Surrounded by controversy, Tether’s refusal to be audited has led to questions over each token being backed by one US dollar, as purported by its creators.

However, Facebook has 2.5 billion global users and more than $40 billion in annual revenue. It may just have everything it takes to develop a stablecoin that works. If it is successful in this venture it would be the first large technology company to launch such a project.

Featured Image: Depositphotos/© Mactrunk

Autonio Welcomes Stan Larimer to Our Advisory Board

smiley_1

Latest news from the Steemit scam

Latest news from the Steemit scam

1: More and more bugs on the website and with the API these last days.
2: No more validated account for one month. If you want to join Steemit with a free account, forget this. People who wants to create an account will have to pay. Steemit needs more real money?
3: As soon as you earn some STEEMS/VESTS rewards, steemit decreases the amount of delegated STEEMS/VESTS.. You can see at https://steemblockexplorer.com/@steem Steemit needs more real money?
4: The last annoouncement at https://steemit.com/steem/@steemitblog/introducing-mira One thing is interesting: “Steem should become even more decentralized”. Great! It shows we are right to tell Steemit is not a real blockchain and I think it will NEVER be the case.
5: Steemit goes on to delegate amounts to accounts left months ago.. Why? They really think that their members will go back? How they can be notified they have received these delegated amounts? Members stopiing to use Steemit will never go back to this poor stupid ‘social network’ haunted by some teams of abusers flagger trolls harassing people and destroying accounts for pointless and unjustified reasons.

 

Malaysia Files Criminal Charges Against Goldman Sachs

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Following months of investigation into the 1MDB scandal in Malaysia, the country’s attorney general Tommy Thomas has filed criminal charges against Goldman Sachs International and two of its Asian subsidiaries alongside former Goldman Partner Tim Leissner, alleged scam mastermind Jho Low and former 1MDB counsel Jasmine Loo. The Wall Street Journal reports that Malaysian authorities earlier today released a statement confirming the prosecution for omitting material information and publishing untrue statements, which are offenses under Malaysia’s securities laws.

Attorney General’s Statement and Goldman Sachs Response

In the statement, the attorney general revealed that the offenses in question were in relation to documents for international bond sale offering in 2012 and 2013 by Malaysia’s state-run investment ehicle 1Malaysia Development Bhd., also known as 1MDB. According to the prosecution, of $6.5 billion worth of bonds that were arranged by Goldman Sachs in that period, about $2,7 billion was embezzled, with the bank making profits of over $600 million in the process.

Since that time, 1MDB has become a political and legal black hole, bringing down the government of former prime minister Najib Razak and becoming the focus of a vast international investigation led by the United States Justice Department alongside authorities across Southeast Asia and Europe. Goldman Sachs is front and centre of the investigation, with former executive Roger Ng currently fighting extradition to the U.S.to face charges by the Justice Department.

An excerpt from the statement reads:

Malaysia considers the allegations in the charges against the accused to be grave violations of our securities laws, and to reflect their severity, prosecutors will seek criminal fines against the accused well in excess of the $2.7 billion misappropriated from the bonds proceeds and $600 million in fees received by Goldman Sachs, and custodial sentences against each of the individual accused: the maximum term of imprisonment being 10 years.

Leissner on his part has already pleaded guilty in a separate case brought against him by the U.S. Justice Department last month on charges of embezzling public money and bribing public officials in Malaysia and Abu Dhabi. While he awaits sentencing fixed for next year, Low and Loo have been charged in absentia with money laundering and a host of other charges, but their whereabouts are unknown for the time being.

Responding to the charges in a statement quoted by the Wall Street Journal, Goldman Sachs said:

We believe these charges are misdirected, will vigorously defend them and look forward to the opportunity to present our case. The firm continues to cooperate with all authorities investigating these matters.

Cryptocurrency’s Significance

At a time when some are calling for aggressive regulation of cryptocurrencies, this case illustrates the potential that exists for blockchain technology and cryptocurrency systems to create a positive disruption within the existing banking paradigm which permits or even encourages theft and inefficiency through opaque processes and practices.

The complete transparency offered by cryptocurrencies makes it very unlikely that a single sticky-fingered public official would realistically get away with diverting the better part of a billion dollars, aided and abetted by private bankers whose only real interest is in their fees – $600 million in this case. The use of smart contracts for example, in carrying out large, high-level financial operations like 1MDB would make them substantially more efficient and much less prone to corrupt siphoning of public funds as in this case.

Images from Shutterstock.

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https://www.ccn.com/malaysia-files-criminal-charges-against-goldman-sachs/

Coinbase Adds Crypto-to-Crypto Trading for Retail Customers

Coinbase users can begin trading cryptocurrencies directly with other cryptocurrencies, the exchange startup said Monday.

The company is adding support for crypto-to-crypto trading for its retail customers, adding a feature that has long been available to professional cryptocurrency trading services, said product manager Anna Marie Clifton. Users on Coinbase.com, as well as the Android and iOS apps, will be able to begin trading bitcoin pairs in the coming days through the new feature, called Coinbase Convert.

She told CoinDesk that while trading pairs are “a pretty common paradigm in the crypto trading space,” they are not currently being served well to the broader retail audience.

“The functionality is giving customers the ability to directly convert between one cryptocurrency and another, which is pretty advanced,” she said.

The trading pairs were developed based on user feedback, Clifton said.

Unlike professional trading services, which use such pairs to take advantage of price fluctuations, retail users are likely to use these pairs for more utilitarian purposes.

As one example, she said, some customers have purchased bitcoin but now want to interact with decentralized applications (dapps), and therefore need to convert their holdings.

“I think one of the things that was most surprising was seeing a lot of customers frustrated because they wanted to use the product immediately [but] it required two trading fees,” she said.

Initially, Coinbase Convert will support bitcoin trading pairs, with customers able to convert to bitcoin cash, ethereum, ethereum classic, litecoin and 0x. More pairs may be added in future based on customer feedback.

The exchange has been rolling out the functionality over the past week, with small groups seeing the new pairs last week. The feature will be “gradually” rolled out to each of the different countries Coinbase offers native payment access in.

“We’ll continue iterating on the product and expanding the functionality,” Clifton said. “An increasingly large number of customers will have this functionality available.”

Image via Shutterstock

Coinbase Adds Crypto-to-Crypto Trading for Retail Customers

Hong Kong Exchange ‘Hesitant’ to Approve Bitmain IPO, Says Source

The Hong Kong Stock Exchange (HKEX) is reluctant to approve the initial public offering (IPO) applications of Chinese bitcoin mining equipment manufacturers, according to a person involved in the talks.

Following the 2017 cryptocurrency market boom, mining giants Canaan Creative, Ebang and Bitmain applied in May, June and September of this year, respectively, to sell shares on the HKEX. Bitmain’s bid, in particular, was seen as a watershed moment, as it marked the first time a major crypto startup sought to go public.

But the 2018 bear market has underscored the sharp ups and downs of the crypto space, making the exchange nervous about listing such companies, the source told CoinDesk. Canaan Creative’s application has already lapsed, and the other two face a high bar in convincing HKEX.

“The exchange is very hesitant to actually approve these bitcoin mining companies because the industry is so volatile. There’s a real risk that they could just not exist anymore in a year or two,” said the person, who requested anonymity because the information is private, adding:

“The HKEX doesn’t want to be the first exchange in the world to approve this and have one die on them.”

An HKEX spokesperson said the exchange does not comment on individual companies or individual listing applications. Bitmain declined to comment, citing its pre-IPO quiet period, while Canaan Creative and Ebang did not respond to CoinDesk’s inquiries by press time.

Stepping back, the IPO process in Hong Kong starts with a company filing a draft prospectus with the HKEX. Then the exchange will begin back-and-forth talks and questions with the applicant.

If the application is approved by both the HKEX and the Securities and Futures Commission (SFC) – Hong Kong’s financial regulator – the case will proceed to a listing hearing, during which the offering size and share price are decided and then made public.

However, if an applicant does not make it to a listing hearing after six months from filing, the application will lapse, meaning the case is no longer active, though the applicant could choose to later reactivate the case if it still wishes to pursue the fundraising.

Canaan’s application lapsed in November after the firm failed to make it to the listing hearing six months from its May filing. Ebang, which submitted on June 24, is only two weeks away from the six-month window ending. Bitmain, the best known of the bunch, is almost halfway through the six-month period.

“Right now, I don’t think that any of them could make it to the listing hearing,” said the source, noting that both HKEX and the SFC must sign off. “If either one doesn’t approve it, you can’t make it to the listing hearing.”

High hurdles

Lawyers familiar with the HKEX’s IPO process called its hesitance to list mining firms understandable.

Apart from basic listing requirements such as financial track records, the HKEX also focuses on “suitability and sustainability of the business and how risky the business is for retail investors,” said Ivy Wong, a partner at the law firm of Baker McKenzie in Hong Kong.

“I have seen cases where the applicants could satisfy the basic listing requirements for the three years’ track record, but did not manage to convince the HKEx that its business is sustainable, and the HKEX was reluctant to grant a listing approval,” she said.

Frank Bi, a partner at international law firm Ashurst in Hong Kong who regularly works with public companies, echoed that point.

“HKEX will be particularly cautious and concerned over the regulatory uncertainty arising from bitcoin mining makers’ IPOs in Hong Kong,” he said. “Coupled with the potential market speculation which has been reflected over the price of bitcoin recently, it is even more difficult to present a sustainable business model of this industry.”

Neither Ebang nor Bitmain has disclosed its financial data for the third quarter of this year when the cryptocurrency market started to take a notable dip.

“If there’s a significant drop of their revenue, profits or loss, they have to disclose that. It’s something that worries the exchange,” the source familiar with the talks said.

The source went on to explain the exchange is actually taking the advantage of the fact the crypto market is down right now because while it doesn’t want to approve the applications, it doesn’t have the grounds to reject them outright.

“What they are doing is they are just dragging the case right now,” the source said, adding:

“If the market continues going up, the exchange may be pressured to approve the cases because how well the entire industry is doing. But because the market is down, these companies really have to justify [how] this industry is sustainable.”

Bi said two common reasons for IPO delays in Hong Kong are a failure on the applicant’s part to provide due diligence and disclosure to HKEX’s satisfaction and market conditions where a realistic valuation is different from what existing investors want for their exit.

“HKEX has always been known to be cautious about scrutinizing applicants’ businesses and their sustainability,” Bi said.

More than mining?

One approach bitcoin miner makers have tried to justify their business models to HKEX is to brand themselves as having diverse lines of business, such as research and development in artificial intelligence, telecommunication and blockchain, according to the draft filings.

For instance, Bitmain claimed to be a “strong contender in the AI chip industry” in its draft prospectus, potentially joining the ranks of technology giants like NVIDIA and Google.

“Riding on our success and expertise in ASIC chip design and powerful research and development capabilities, we have extended our focus to the revolutionary field of AI and have achieved promising results,” the firm stated in the filing.

Bitmain said it launched its pilot AI chip BM1680 in the second quarter of 2017, which “functions as a tensor computing acceleration processor for deep learning, applicable to training and inference on artificial neural networks.”

But such arguments are not going over well at HKEX, according to the source involved in the talks.

“Actually what they are is they are just manufacturers who focus primarily on bitcoin mining machines. If this whole mining thing tanks, these companies will probably tank as well,” the source said.

Bi agreed, telling CoinDesk while these companies have made statements about expanding their business models beyond crypto mining, “it is likely that crypto mining-related activities and crypto holdings still comprise a majority part of their revenue.”

Another factor that can could make hurt these companies chances of approval is their vast holdings of cryptocurrencies whose value has steeply fallen in the past six months.

“Combined with a limited track record of business operations and the substantial recent decline in crypto values, likely means that regulators will be especially closely scrutinizing their businesses,” Bi added.

Bitmain, for example, disclosed that as of June 30 this year, it had US$886.9 million in crypto assets, including bitcoin, bitcoin cash, ether, litecoin and dash, among others.

Although it didn’t disclose a coin-by-coin breakdown, data from CoinDesk’s Crypto-Economics Explorer shows all of the mentioned cryptocurrencies have seen a major decline by at least 50 percent. Among them, bitcoin cash has seen the most significant drop after the recent hard fork war, in which Bitmain has played a vocal part in leading the Bitcoin Cash ABC camp.

“It [the crypto holding] certainly doesn’t help with the case, because you are just adding more risks. Now it’s not just your revenue that’s at risk, but also your balance sheet,” the source said.

Status symbol

To be sure, going public is not necessarily a life-or-death matter for the Chinese mining companies.

“These companies – Ebang, Bitmain and Canaan – want the regulatory approval and status of being a listed company. But as far as the genuine funding needs, they actually have quite a lot of money because they have made a lot in the past year,” said the source familiar with the discussions.

Indeed, the 2017 boom helped the miner makers in China to generate exponential revenue and profit growth.

Bitmain, Cannan and Ebang made $1.2 billion, $56 million, and $60 million, in profits last year, respectively. Further, the significant growth also led to a whopping increase in the firms’ compensation for their key executives.

According to the filings, Bitmain’s founders Ketuan Zhan and Jihan Wu, for instance, received $22.7 million and $20.4 million as discretionary bonuses for 2017, respectively, while their annual salaries were both $27,000.

Wong said companies’ reasons for seeking IPOs may vary – some do it for profile and presence in the market while others do it for fundraising and realizing gains.

“My guess is that their [miner makers’] reasons are likely mixed, coupled with a desire to set market precedent and be the first mover in the market,” she said.

More broadly, Wong said it may be too early to tell the success or failure of any of these crypto companies as the market is still relatively young and we have yet to see how they emerge and develop.

She concluded:

“It is, in any event, an exciting thing to see that it is able to provide investors with more investment options and satisfy the different risk appetites in the market.”

Lion sculpture image via Shutterstock

Hong Kong Exchange ‘Hesitant’ to Approve Bitmain IPO, Says Source

Augur House Elections Market: Alleged Reporter Says Republicans Won The Market

capitol hill pixabay
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A person claiming to be the designated reporter for an Augur predictions market which asked the question “Which party will control the House after 2018 U.S. Midterm Election?” has posted to Reddit saying that he will be reporting that the Republicans control the house today. The market ends today, 12/10, and the Decmocrats, who won the election, won’t take control of the house until January.

A Twitter user said that this is an arguable case:

At issue, of course, are several things as regards predictions markets. The question is ambiguous – it doesn’t clarify who will win the election, but who will control the House after the election. However, one could argue that if we’re going to play semantics, then both parties are correct – Republicans control it now, and Democrats will control it in January, and both periods of time follow the mid-term elections.

In fact, if the outcome is reported as it allegedly will be, then it belies a previous article on CCN where we said it correctly predicted the outcome. In fact, 90% of people probably did believe they were forecasting the election outcome, but according to the alleged market reporter, they were actually just predicting incorrectly who would be controlling the House on December 10th.

At time of writing, the market report had not been finalized. The alleged reporter, who goes by the handle Poyo-Poyo on Reddit, wrote:

Regarding 0xbbbc0a8baa03535e0a680ee2f057162aaaafd570,

I am sorry for any confusion or financial loss my gimmick house market may have caused. The intention is, and always has been, to measure the status of the House of Congress on the 10th of December, NOT the status after the new congress takes office.

Thusly, I shall, and am required to, report as “Republican” when I submit my official selection for this market later today.

Again, I am truly sorry for any damage to traders, or to the Augur Community as a whole for this ambiguity, and I hope the Augur World continues to thrive along toward the future, and I plan to continue to play my important role in its development over the coming years.

The Augur market allows reporters three days to report, and the market officially ended just under 24 hours ago. CCN will post an update at that time, regardless of the outcome. If the results go the way the alleged reporter says they will, then we 90% of those who bet on the market will have lost their money, totaling around over 3/4s of a million dollars in cryptos.

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https://www.ccn.com/augur-house-elections-market-alleged-reporter-says-republicans-won-the-market/

One Month Later, Which Crypto Is Winning the Bitcoin Cash Split?

One month has officially passed since the bitcoin cash blockchain underwent a hard fork on November 15, resulting in the creation of two distinct networks.

They’re now commonly referred to as Bitcoin Cash ABC and Bitcoin SV. Yet in the weeks that followed the mid-November fracture, there is still no favorite in terms of overall price.

Bitcoin cash is designed in such a way that, every six months, its users must ‘fork’ the blockchain and adopt a software upgrade with changes determined by the project’s open-source software developers.

If the developers and miners reach consensus as to what the upgrades should be, the main chain stays intact and simply adopts the software upgrade known as a ‘soft fork’.

All bitcoin cash forks had fallen under the ‘soft’ category, but circumstances were different with the latest fork. This time around, the upgrades could not be agreed upon and tension grew among developers, so the main chain experienced a divisive hard fork – in other words, it split into two separate chains with their own cryptocurrencies.

Since the fork, both BCHABC and BSV have been trading on public cryptocurrency exchanges like Binance and Coinbase, but after 30 days of wild volatility and drastic swings in hash power, their prices stand just $10 apart.

Where are they now?

Bitcoin cash prices reached a peak of $621 in November but had fallen 32 percent to $421 on Nov. 14, the day before the scheduled fork. according to CoinDesk’s pricing data.

After the split, the two newly created cryptocurrencies bitcoin cash ABC and Bitcoin SV hit the market and began trading at $295 and $90 respectively on the Binance exchange.

It should be noted that multiple exchanges including Poloniex and Bitfinex engaged in ‘pre fork trading’ before the fork took place.

These experimental markets involved the trading of ‘IOU’ token place holders for BCHABC and BSV redeemable post-fork, theoretically allowing exchange users to decide amongst themselves which fork to support.

For much of November, BCHABC was the distinct price leader, at times valued as much as 10 times that of its counterpart.

The difference between the two narrowed as the month elapsed, so much so that Bitcoin SV was able to take a brief price lead on Dec. 6.

Since the fork, the broader cryptocurrency market has witnessed a significant sell-off of more than $80 billion in terms of total capitalization. As a result, the two forks depreciated greatly in price.

At the time of writing, BCHABC (currently trading under the BCH ticker on many exchanges) is valued at just $80, while BSV is $70, according to CoinMarketCap, so it’s clear the public has yet to pick an undisputed favorite.

Looking forward

While the long term success of BCHABC and BSV will likely be dictated by usage and hash power, technical analysis can be applied to their price charts so a more immediate direction of the assets prices can be anticipated.

As can be seen in the BSV/USDT chart above, price began forming a bearish consolidation pattern known as the descending triangle on Nov. 26, which broke down on Dec. 16. 

The break of triangle support at $84 opened the doors for more depreciation with just two notable support levels nearby: $74 and $54. Based on the large size of the triangle pattern, it seems the lower support level is likely to be reached although the oversold conditions seen on the intraday relative strength index (RSI) may slow the fall.

There is less to glean from the BCHABC chart since it has been in a steady, near 80 percent downtrend ever since hitting the market.

With no known support levels nearby, it’s difficult to predict where its price may eventually pick up bid although oversold conditions are evident on the higher time frame charts, so sellers may soon take a breather allowing for a corrective bounce.

Needless to say, it’s unlikely either of the newly forked cryptocurrencies pick up strong big until bitcoin and the broader market does as well.

Disclosure: The author holds BTC, AST, REQ, OMG, FUEL, 1st and AMP at the time of writing.

Locked forks image via Shutterstock; charts by TradingView

One Month Later, Which Crypto Is Winning the Bitcoin Cash Split?

Crypto is for Activists: Why We Need More Cypherpunks, Not Cypherposers

Zach Harvey is the CEO of Lamassu, an early and active provider of cryptocurrency vending machines. 

The following is an exclusive contribution to CoinDesk’s 2018 Year in Review

2018 year in review

Emotions were high during bitcoin’s block size debate (each side believing bitcoin would be damaged by the other’s triumph), and they’re high again in this year’s bear market. People are once again listening to the fortune tellers, who shape their crypto outlook on market sentiment, and while there are many that signal allegiance to the cause, some are just here for the quick rewards, both social and monetary.

It disappoints me to see the toxicity in this small cryptocurrency community, but it doesn’t surprise me.

Specifically on Crypto Twitter, it’s the environment itself that rewards the group-think we’re seeing. Previously independent thinkers are rewarded for conforming and are punished for their dissent. While it’s easier to resist threats in groups, it’s harder to create and progress without being open-minded. We see similar patterns in politics and even in debates about nutrition.

All said, I must say that it is my experience that the Twitter toxicity does not transfer to offline interactions. I have met many bitcoiners from both sides of the block, and I can’t recall one time I felt any toxicity in person. In fact, the opposite is the truth, it’s always a treat. I would mention names, but I don’t want to blow their tough-guy covers.

To quote Ian Mackaye of Fugazi, the tough guys are all “ice cream-eating motherfuckers.” I mean that in the fondest of ways.

Instead of checking the daily graphs, it would better serve most crypto-enthusiasts to revel in cypherpunk writings such as Tim May’s Crypto Anarchist Manifesto and Wei Dai’s b-money paper. Both are great reminders of why we’re here in the first place. (If you’re going to look at a graph, make it the BTC:USD logarithmic graph. It has the best chance of predicting the future.)

Bitcoin is activism, not a get rich quick scheme or a startup platform. The point of bitcoin is to regulate bad laws and to democratize bad policies by way of circumventing harmful enforcement.

Any system, software or hardware, blockchain-based or otherwise, that contributes to these goals is worth paying attention to.

Equally, any software or hardware projects that fail in this manner are only of interest to me once they amend their fragility. In this regard, decentralized exchanges and ICOs are worthless in their current form, but DEX or ICO v2.0 or v3.0 may end up being decentralized and powerful tools for preventing oppression in all of its forms.

Go Gig (and Boring)

In 2012, my brother Josh and I printed up bitcoin postcards to give out at regional Students for Liberty events all over the East Coast. At the time, it was mostly the Libertarians embracing the infant technology and this was our activism.

For the International Students for Liberty Conference in early 2013, we decided to do something a bit wilder, we wanted to show these youngsters how bitcoin works. We built a little orange box that accepted cash notes and sent out bitcoin transactions. Not only was it a huge hit at the conference, it reached social media and we started getting interest from media and potential buyers.

This was our chance to take our passion for bitcoin to the next level. We founded Lamassu and started manufacturing bitcoin ATMs, a machine we like to now call “cryptomats.”

Fast forward almost six years and we’re still going strong, still advocating bitcoin and there’s a booming industry making machines that help people buy and sell bitcoin. From the get-go, our business has always been more about activism than pure short-term profit. The business decisions we make are a mix of what we need to do to succeed and how to stay in line with our techno-libertarian ideals of privacy and decentralization.

Our main goal has always been to introduce as many people to cryptocurrencies as possible. And so our software is free, open source and unlicensed. We don’t charge cryptomat operators any fees for machine usage, and they host their own servers. End-users who use the machines never have their coins stored for them by operators, but are required to actually use bitcoin to get it.

As a whole, the cryptomat industry is quite unlike others in the cryptocurrency ecosystem. There’s been very little drama of late.

We’ve seen healthy, steady growth. And the field is made of quality companies, such as our main competitors Genesis and General Bytes, that have endured radical bear and bull markets. All these are very important for the ecosystem, yet perhaps a bit mundane in terms of the news cycle. No ICOs, no mass hacks and the companies involved have at best millions worth of revenue, not billions.

But at the same time, I feel it’s the kind of boring the cryptoverse needs. Hundreds of thousands of ordinary people around the world are using cryptomats every month to get small amounts of bitcoin or other cryptocurrencies directly to their wallets. No banks, no third party custody, no waiting.

It’s still the easiest way for a first time user to get crypto, and the more cryptomats there are in the world, the more useful and reliable they become. Inch by inch, row by row.

BUIDLers on the Roof

The hardest part for bitcoin was getting to $0.10.

The exponential growth since has become the norm and would take something extraordinary to derail. As such, we have to think about what happens when a growing population of the world starts owning bitcoin. Will the next financial crisis be the one that pushes bitcoin to the mainstream? What if this actually does happen, but there’s still no good user interface to protect people from losing, misusing and failing to protect their funds? Will they end up trusting people to help them?

For me, this is still the biggest question in crypto. I don’t doubt the success of bitcoin and other key cryptocurrencies, but I’m concerned things will get messy when the central banks run out of tricks.

At Lamassu, we have been keeping our heads down, working to improve our corner of the still unsolved UI problem of crypto. We’ve been aggressively hiring coders and customer support staff and expanding our manufacturing facilities.

We have fierce competition, but it’s one of mutual respect. I know our competitors are doing it for the same reasons we are, a deep rooted ideology with bitcoin at its core, to free money and markets from powerful middlemen.

The whole point of bitcoin is for people to help themselves, but it’s our jobs as proponents to make that easy. The sooner people can actually use, store, and secure their own coins, the safer they’ll be when the bank runs hit. Lest we build skyscrapers of blockchains, with no elevators in which to ascend them.

Have a strong take on 2018? Email news [at] coindesk.com to submit an opinion to our 2018: Year in Review.

Image via CoinDesk archives 

Crypto is for Activists: Why We Need More Cypherpunks, Not Cypherposers

Bitcoin Price Tumbles Further: New Low for the Coin

Bitcoin Price

Bitcoin price is tumbling further today, dashing any hopes of a rally that some felt was certain thanks to current extreme oversold conditions.

The world’s largest coin by market cap is currently selling for $3,301.60 USD according to coinmarketcap.com. But earlier today, it fell to $3,200, representing a 15-month low for Bitcoin and not helping bulls’ hopes for a revival.

This is the lowest level since September 2017.

Bitcoin Price Drop

In the last four weeks alone, Bitcoin has dropped 49% in price. Surely, sellers are exhausted, and Bitcoin is set to turn around. Earlier this week, BTC began moving upwards towards $3,633, but it did not last. The coin’s failure to produce a worthy bounce back despite being extremely oversold indicates that the bears are winning this war and negative sentiment is strong. A 200-week moving average support of $3,170 has been established and now heading below it may be a real possibility for Bitcoin.

Others Follow

Across the market, the sentiment is once again bearish. Bitcoin Cash’s recent forks Bitcoin SV and Bitcoin Cash are both two of the biggest losers, with declines of approximately 11% and 14% respectively.

It seems the hashrate war between these two coins is doing neither of them any favors. The hard fork happened on November 15th, and the contentious split has caused both coins to lose more than they have gained.

Elsewhere, Stellar is down 7.5%, and EOS is down 5%. Ethereum is down 4.5%.

>> You Can Earn Bitcoin (BTC) While Shopping with the Lolli App

Sell-Off

What’s causing the market-wide sell-off?

Notably, investors are worried over the fate of a Bitcoin ETF gaining US approval in February. Also the uncertainty of whether or not (or when) this bear sentiment will end, leaves investors’ prospects for short-term Bitcoin price gains at a paltry level.

However, some are calling this period one of the “best buying opportunities.” At its current prices, rating agency Weiss is a firm believer that Bitcoin will turn around and now is the time to buy.

Featured Image: Depositphotos/© vectorfusionart

Autonio Welcomes Stan Larimer to Our Advisory Board

You Can Earn Bitcoin (BTC) While Shopping with the Lolli App

Lolli app

Do you shop frequently at Sephora? Lululemon? Walmart? If you do, a new in-browser app has emerged and wants to give you Bitcoin (BTC). CoinDesk just reported that the app called Lolli just added Sephora to their list of retailers.

Earn Bitcoin (BTC) While Shopping

Lolli gives shoppers cash back after they make purchases at their list of partnered retailers. The Bitcoin rewards startup told CoinDesk that it recently won over Sephora by data. Around 30 percent of Lolli’s active users are women.

“We’ve gone back to a lot of these retailers that previously were not interested but now are coming on-board,” Lolli CEO Alex Adelman told CoinDesk. “One of the biggest ones that just joined us is Sephora, which adds an entire suite of retailers in the beauty category.”

Lolli is also partnered with Sephora’s biggest competitor, Ulta. These retailers pay Lolli for customer referrals in fiat currency, which in turn is converted into Bitcoin for rewards in the app. Many crypto-based startup companies have faced vast layoffs this year, due to the bear market. However, Lolli has only six employees and is gaining some traction.

>> Crypto Users Increased to 35 Million in 2018: What Will 2019 Bring?

Adelman told CoinDesk that Ulta is a huge retailer for the startup company. The tech CEO also claims that men and women alike were consistently requesting Sephora. To earn rewards on Sephora or Ulta, users just have to install the app in their Chrome browser and shop normally. So far, Adelman claims 60 percent of Lolli users become repeat shoppers.

Lolli is currently partnered with 500+ popular retailers. You can earn Bitcoin (BTC) through Lolli by shopping online with these major retailers: Barnes & Noble, Overstock, FinishLine, Michaels, Toms, Macy’s, Walmart, CVS Pharmacy, Lululemon, Groupon, and VRBO.

The Bitcoin startup was launched back in September of 2018, and it has raised $2.35 million so far. On average, Lolli pays out $10 per purchase in BTC.

Featured Image: Depositphotos/© [email protected]

Autonio Welcomes Stan Larimer to Our Advisory Board

Pro-Crypto Fintechs Robinhood & Revolut Aim to Replace Bitcoin-Hostile Banks

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Earlier today, two of the world’s hottest fintech startups, the US-based Robinhood and the UK-headquartered Revolut, separately announced new product offerings that could greatly benefit the crypto industry over the long-term and put pressure on bitcoin-hostile banks to begin modernizing their service lines.

Bitcoin-Friendly Fintech Startups Want to Replace Banks

Revolut, which recently achieved a $1.7 billion valuation, announced this morning that it had received a European banking license, enabling it to begin rolling out insured bank accounts to its more than 3 million customers in early 2019.

Revolut Receives European Banking License

The firm, whose app already features a built-in cryptocurrency exchange and will soon support commission-free stock trading, also plans to begin offering personal and business loans within the near future.

“With the banking licence now secured, commission-free stock trading progressing well and five new international markets at final stages of launch, we are living up to our reputation as the ‘Amazon of banking,’” said Nikolay Storonsky, founder and CEO of Revolut. “Our vision is simple: one app with tens of millions of users, where you can manage every aspect of your financial life with the best value and technology.”

“Our vision is that retail and business customers will be able to apply for a loan in just two minutes from within the app, and then have the money in their account almost instantly,” he added. “We’ll remove the bureaucratic process and come in cheaper than traditional lenders.”

Robinhood Announces Checking & Savings Accounts

robinhood cryptocurrency trading bitcoin
Robinhood, which wants to become the largest cryptocurrency trading platform, will now also offer checking and savings accounts. | Source: Shutterstock

Stock trading app and Silicon Valley darling Robinhood has also expressed its desire to become a licensed banking institution, and while the firm has not yet achieved that goal, it did take a major step toward becoming a viable digital banking alternative.

Hours after Revolut revealed that it had received a European banking license, the $5.6 billion Robinhood announced that its more than six million customers (up from 3 million in February) could begin registering for early access to its new zero-fee checking and savings service, which offers an industry-leading 3 percent interest rate.

In lieu of waiting to receive a full-fledged banking charter, Robinhood is offering the service through its broker-dealer license and says cash deposits will be insured by the Securities Investor Protection Corporation (SIPC) up to $250,000. Customers will receive a free debit card, as well as zero-fee withdrawals at more than 75,000 ATMs across the United States.

Robinhood, like Revolut, operates an in-app cryptocurrency exchange alongside its flagship stock trading platform. The service is now available throughout more than half of the US, and executives have said that they expect it to be the largest crypto trading platform within the near future.

“We expect by the end of the year to be either the largest or one of the largest crypto platforms out there,” Robinhood co-founder and co-CEO Baiju Bhatt said in May. “But we also really feel we’ll have the absolute best experience for investing in crypto as well—from having a large variety of coins available to a more favorable cost structure—mainly no commissions—to just quality of product.”

Crypto-First Firms Eye Banking Licenses

Revolut and Robinhood are far from the only fintech startups seeking to provide a digital alternative to conventional banks, nor are they the only ones to do so with an eye towards increasing cryptocurrency adoption.

Square, the digital payments startup that allows customers to trade bitcoin through its peer-to-peer Cash App, previously applied for a banking license but withdrew that application in July. The firm said at the time that it would refile the paperwork in the future but demurred about when this would occur.

Cryptocurrency unicorns Coinbase and Circle are also said to have held early-stage discussions with regulators about registering as licensed banks, but it’s not clear whether these talks will result in concrete action.

Can Fintechs Upend Anti-Bitcoin Banks?

wall street bitcoin crypto cryptocurrency
Wall Street has a complicated relationship with bitcoin. | Source: Shutterstock

In the meantime, these new digital banking products from Revolut and Robinhood appear to be primarily targeted at individuals in their core demographics, who skew younger due to the mobile-first nature of their platforms. However, as they continue to grow — and acquire the necessary licenses — it would not at all be surprising if they expand their offerings to target enterprise customers as well.

Indeed, Revolut has already said that it intends to offer business loans as part of its future lending service. If once those relationships were in place, Revolut began offering standard business accounts, it would — to put it simply — represent a huge opportunity for a cryptocurrency industry that has long found banks a thorn in its side.

Cryptocurrency Firms Face Cold Shoulder from Many Wall Street Banks

While some major cryptocurrency firms have managed to establish stable banking partnerships, many crypto startups continue to struggle to establish permanent relationships with reputable financial institutions. When they do, it is often with smaller outfits like the US-based Silvergate Bank, which are more readily willing than larger firms to endure the perceived risks associated with taking on crypto clients.

To wit, even as some large financial institutions like Goldman Sachs have confirmed that they are working on cryptocurrency products, others refuse to take on crypto firms as clients or in some cases shutter their accounts after the fact.

“Banking in this ecosystem,” Silvergate CEO Alan Lane stated in a recent Wall Street Journal interview, “is not for the faint of heart.”

The situation is particularly dire in smaller markets like Chile, whose Supreme Court recently ruled that banks could discriminate against cryptocurrency exchanges. The move effectively prevents local firms from offering fiat-to-cryptocurrency trading, stunting the industry’s ability to grow.

Embracing this industry is a calculated risk, one that most Wall Street institutions have thus far decided is not worth it. However, Main Street banks like Silvergate have scooped up US crypto heavyweights like Coinbase, Kraken, Genesis Global Trading, and bitFlyer USA.

Revolut: Banks Won’t Catch up

Revolut Nikolay Storonsky bitcoin crypto cryptocurrency
Revolut CEO Nikolay Storonsky has said that fintechs will continue to lead the charge on crypto adoption, while ordinary banks will fail to keep up. | Source: Stephen McCarthy/Web Summit via Wikimedia Commons

Commenting on Wall Street’s hesitancy (and occasional outright hostility) to engage with crypto, Revolut’s Nikolay Storonsky predicted that fintech would continue to lead the charge on mainstream cryptocurrency adoption, regardless of whether legacy institutions change their tune on this nascent asset class.

“Fintech will be very big in crypto for the foreseeable future,’’ he said last month. ‘’I just don’t think banks will catch up.’’

At this stage, it’s far too early to eulogize the legacy financial sector, but for the cryptocurrency ecosystem, one thing is certain: the advent of crypto-friendly banking alternatives like Revolut and Robinhood will at the very least increase the opportunity cost of Wall Street failing to engage with this burgeoning industry.

Featured Image from TechCrunch/Flickr

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https://www.ccn.com/pro-crypto-fintechs-robinhood-revolut-aim-to-replace-bitcoin-hostile-banks/

Ethereum (ETH) Constantinople Hard Fork Nears and ETH Hacks Rise

Ethereum eth

Two days ago, brand new code was released on GitHub that had a Constantinople activation time within it. The post reads that Geth, or ‘Go Ethereum,’ is a special release and a hard fork will take place on the Ethereum (ETH) mainnet at block 7,080,000. This new hard fork is expected to take place around January 16th, 2019.

Ethereum (ETH) Constantinople

Ethereum’s co-founder, Vitalik Buterin, re-tweeted the tweet above on December 7th. Ethereum core devs agreed to finally launch the Constantinople hard fork on that day. Constantinople comprises separate Ethereum Improvement Proposals (EIPs). These separate proposals are geared towards softening the transition from proof-of-work (PoW) to proof-of-stake (PoS).

This change is long-awaited, and something Ethereum developers have been planning for years. PoS would fundamentally change Ethereum (ETH) by means of a host of new upgrades. PoW has been under strong criticism as it has been known to be far less energy-efficient than PoS.

Due to the fundamental change in the Ethereum blockchain, all nodes must either update with the entire system or carry on running as a separate blockchain. A trial run of the hard fork was run on Ropsten back in October, and a consensus issue was found. This is what caused the delay in the hard fork until late-January.

>> Blockchain Start-Up Orbs Raises $15 Million With Kakao’s Help

Back on December 10th, Buterin went on one of his famous multi-tweet Twitter rants. In this particular 15 tweet rant, he discussed non-financial applications of blockchains.

The Ethereum co-founder believes that PoS and sharding will make blockchains thousands of times more efficient.

Ethereum Hacks

On the same day of the Twitter rant, ZDNet released a report on the increase of hacks targeting Ethereum. Recently, hackers have begun scanning the network and are identifying mining rigs and Ethereum wallets with an exposed port 8545. By doing this, hackers can gain control of the mining rig or crypto wallet and direct funds elsewhere.

It seems hackers aren’t concerned with the dropping price of Ethereum (ETH).

Featured Image: Depositphotos/© TPOphoto

Binance Launches OTC Trading Desk, Following Bittrex

US Lawmaker Suggests ‘WallCoin’ Crypto to Fund Trump’s Mexico Border Wall

Ohio Congressman Warren Davidson thinks crowdfunding may provide a solution to the controversial proposal of building a wall on the Mexican border.

And, perhaps more notably, he suggested using a cryptocurrency to do so.

During an interview with NPR’s Steve Inskeep, the U.S. lawmaker explained that he has already proposed letting the American public pay for the wall, which is opposed by Democrats but mades up a key aspect of President Donald Trump’s list of 2016 campaign promises. In particular, Davidson told Inskeep, he has suggested a private funding program wherein “the American people, or whomever should choose to donate,” (including residents of Mexico) would be able to fund the wall’s construction.

He went on to add:

“You could do it with sort of like a crowdfunding site or you could do a blockchain and you could have WallCoins, but you could raise the money and frankly if we get it right at the Treasury you could even pay with Mexican pesos.”

Davidson noted that this funding would not support a full wall across the entire border and that some parts could likely be reinforced with fences.

“There are areas that you would want to secure with a wall, and if you look at the areas where you have secured them with walls, $5 billion isn’t going to build a wall like the Great Wall of China, this is going to build secure fences,” he said.

Davidson is an outspoken supporter of the cryptocurrency space, having previously held a round-table event with more than 80 representatives from both the crypto and finance industries to discuss possible legislation for initial coin offerings.

A spokesperson for Davidson did not respond to a request for comment by press time.

Border wall image via Shutterstock

US Lawmaker Suggests ‘WallCoin’ to Fund Trump’s Mexico Border Wall

Cardano Founder Charles Hoskinson Explains Why ADA’s New Smart Contract Tools are a Boon for Fintech

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IOHK, a leading blockchain research and development firm, announced two tools developed by a world-leading team for writing smart contracts for the Cardano blockchain.

The apps are called Plutus and Marlowe and were launched in test format at the first PlutusFest conference in Edinburgh, Scotland. These powerful tools will enable start-ups, the financial services and fintech industries, and academia to prepare blockchain contracts that will run on Cardano (ADA).

Plutus provides a general purpose programming language and tools for the Cardano protocol. IOHK’s scientists and engineers have combined the discipline of the Haskell functional language with the ADA network to create a platform for fintech developers to write secure and robust smart contracts.

IOHK has provided an easy-to-use exploratory development and testing environment for Plutus contracts based on a novel blockchain emulator, called Plutus Playground. These contracts are ready to be deployed to the blockchain itself.

Speaking with CCN, Cardano’s Charles Hoskinson explained that the Marlow application provides instant global fund transfers for business. It also enables the holding of rental deposits in escrow to increase transparency.

He explained:

“As an example: The escrow mechanism allows Party 1 to deposit the money into a contract, in a way that the money will only be released when two out of three participants agree on whether Party 2 has indeed given Party 1 the item. The escrow participant (Party 3) is supposed to be a neutral third party that decides in case of dispute. This way if Party 1 and Party 2 are honest, they will just agree on the result of the transaction and Party 3 will not need to do anything. If Party 1 and Party 2 disagree, Party 3 will be able to choose whether the money must go to Party 1 or to Party 2.”

To put matters in a simpler context, Hoskinson said that, for example, if the money paid for Item A is 450 ADA and it must be committed by Party 1 before block 10, it will be refunded to Party 1 if there is no consensus before block 90.

For non-programmers, Marlowe is a simple way to generate code and create software products. It is an easy-to-use tool that enables professionals in the finance industry who have no programming background to build automated financial contracts on the blockchain. Marlowe comes with its own web-based testbed, Meadow.

The first PlutusFest, the event at which these tools were unveiled, has been hosted by the Edinburgh Blockchain Technology Laboratory at the University of Edinburgh. This facility was established in February 2017 as the headquarters for IOHK’s network of global university partnerships.

Featured Image from IOHK/YouTube

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https://www.ccn.com/cardano-founder-charles-hoskinson-explains-why-adas-new-smart-contract-tools-are-a-boon-for-fintech/

Novogratz’s Galaxy Digital Backs $4 million Raise for Crypto-Lender BlockFi

BlockFi, a startup that offers U.S. dollar loans against crypto collateral, has raised $4 million in its latest round this year.

The New York-based firm announced Wednesday that the funds have been raised in convertible debt investments in a round led by Akuna Capital, with participation from Mike Novogratz’s Galaxy Digital Ventures, Anthony Pompliano’s Morgan Creek Digital, Susquehanna Government Products and Fidelity-linked Devonshire Investors.

With the new funds, BlockFi said it plans to grow its team and launch new products, including an interest-earning crypto savings account (slated for Q1 2019), a portfolio line of credit and crypto-backed credit cards. The firm currently provides dollar-denominated loans against bitcoin, ether and litecoin.

“We believe debt and credit markets in the crypto space will continue to grow and BlockFi is well-positioned to maintain its leadership position as the market expands”, said Dean Carlson, head of digital asset investments at Susquehanna.

Today’s funding round follows BlockFi’s previous $52.5 million raise back in July that was led by Galaxy Digital. In February, the firm also received funding of $1.55 million from ConsenSys Ventures, SoFi and Kenetic Capital, among others, for its stated aim of “bridging the gap” between traditional capital markets and the cryptocurrency ecosystem.

Earlier this week, Galaxy Digital also led a $30 million in a Series A funding round investment in digital banking platform Good Money.

Mike Novogratz image via CoinDesk Consensus archive

Novogratz’s Galaxy Digital Backs $4 million Raise for Crypto-Lender BlockFi

Blockchain Phone: Will Samsung Enter the Ring? Trademarks Say Yes!

The excitement of late in blockchain has centered around a particular blockchain phone. A first of its kind, this phone has crypto nerds alike beaming with joy; the idea of decentralized apps running on your phone is exciting, and that’s before we consider all the crypto possibilities.

Blockchain Phone

It started with Sirin Labs, whose pioneering phone ‘Finney,’ let people store and use digital currencies without transaction fees. Then HTC came to the party with the world’s second blockchain phone called Exodus 1. This phone boasts a “Social Key Recovery” function that lets a user use a select number of trusted contacts to regain access to their funds, should they lose their private key. Kinda cool.

But now… Samsung is about to join the battle. Yes, one of the world’s biggest phone makers is reportedly on the verge of creating its own blockchain smartphone.

But how do we know this? Well, we don’t know it for definite, but there’s something cooking in the kitchen.

European Trademarks

Earlier in the week, Samsung submitted three European trademark requests for blockchain-based smartphone features. They are named as the following:

  • Blockchain KeyStore
  • Blockchain Key Box
  • Blockchain Core

So while it’s not necessarily definite, its pretty obvious.

>> State Farm is Now Testing Blockchain Technology for Auto Insurance Claims

So the news has enthusiasts’ brains ticking over. Is Samsung working on a form of hardware wallet that will be implemented into future devices? Do these names allude to forms of private or public key storage?

One particular clue is that the document states that the trademarks will apply to “Smartphones; Software applications for use with mobile devices; Computer software platforms; Application software.”

But that’s all we know.

Advocate

Samsung has been an advocate for storing cryptocurrency on its phones, stating “smartphones have the best security for blockchain and cryptocurrency.” However, many security experts have disputed this statement.

Further, with $761 million in cryptocurrency thefts this year alone, security is not something you want to take lightly. Perhaps it is time for Samsung to create a blockchain phone made for cryptocurrency storage and then it can truly back up its own statements.

Featured Image: Depositphotos/© TKKurikawa

Binance Accepts Credit Cards: Traders Can Buy Crypto With Credit Cards

State Farm is Now Testing Blockchain Technology for Auto Insurance Claims

State Farm

US automotive and life insurance group State Farm is now testing blockchain technology to potentially speed up auto claims. The company announced the new pilot for its blockchain-based subrogation platform on its website yesterday.

State Farm Testing Blockchain Technology

According to the company’s website, the company processes just over 38,000 claims per day and has 519,000 accounts in mutual funds.

“Today, subrogation is a relatively manual, time-consuming process often requiring physical checks to be mailed on a claim-by-claim basis between insurers,” said Mike Fields, innovation executive of State Farm. “You can imagine the time …

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Still the King: Bitcoin Dominance Hits 3-Month High as Crypto Market Limps Toward 2019

Bitcoin’s share of total cryptocurrency market capitalisation is at its highest point in three months, currently standing at about 55.14 percent according to data from CoinMarketCap. Bitcoin Dominance Surges amid Crypto Price Panic The next four high volume cryptocurrencies in order of market volume are XRP with 11.14 percent, ethereum with 8.55 percent, bitcoin cash

The post Still the King: Bitcoin Dominance Hits 3-Month High as Crypto Market Limps Toward 2019 appeared first on CCN

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Friends Of Stish

Stish Is Going To Grow Fast.

There is no doubt that the Stish social portal is one of the best alternatives online to the mega tech platforms. Stish is going to grow fast as members start sharing their referral links and content across platforms. Stish hashtags and unique perspectives will dominate the social media space. Many people think that Tic Tok blew up but they have not seen anything like Stish and the grass roots ground game. Some old timers might call it gorilla marketing even. 

I'm On Small Stish

Nobody Said It Was Easy.

We have never said amassing loads of friends and followers was going to be a snap. On the contrary, doing so requires you to craft a captivating profile, follow others and engage with followers, and constantly add content to the portal that is actually worthwhile. Trust us when we recommend adding sincere comments to content you like as being the fastest way to grow your base. Hateful, rude content will likely not propel you into any winners circle on https://Stish.io. Everything in life that you have to fight for is generally worth the effort. 

Sure some will say that Stish.io is small and they might even say it will not grow. We heard that at 10 users and 50 users and 100 users and 250 users and 500 users. We have seen people come and go and many stay and grow. Stish will be larger than medium because it offers more of what the people want. You better be a part of it versus just watching and seeing. 

Being popular on Stish can help you market your business or publicize your online presence. The most well connected users on Twitter have over 100.000 followers and one day you will have as many real users on Stish.io Most users on other platform are already famous or well funded. With stish everyone’s voice can be heard and a multitude of people shall gather. 

You can climb your way to the top too!

Some well-chosen, witty blogging topics and aggressive self-promotion will get you very far. Comments that add some real value to another members blog post or micro post can be a game changer not just today but down the road. You might have heard the saying,” Rome wasn’t built in a day.” Maybe not but they sure started working on it today. 

You can’t put off success until tomorrow! You must start here and now and lay the foundation to build upon. You are a winner if you start now but will lose if you wait until tomorrow. Because yesterday is already gone and tomorrow might never come if you don’t start today. Your legacy begins here and now. 

The founder of Stish.io in remembrance of his father’s words.

The above quote is so true.

There is no better time than the present to declare yourself a victor of tomorrow. Hold your head high and push forward. Be the best you that you can be and never look back. Failure doesn’t exist in your life or your world because you refuse to let it coexist. Be passionate about your cause and craft. Share those special moments and build those memories. You will not know until you try and no one can argue with that. 

Friends Of Stish

The Top 10 Tips To Dominate On Stish.io

Stish Like A SuperStar!

Sure you might just be starting out on Stish.io. Yes, you might be completely lost and have a ton of learning to do but you will get most of it over time. Don’t be afraid to evaluate yourself and determine your strengths. The great thing about Stish is that it was built for almost everyone to be able to find their niche. 

Some people do research on topics they are passionate about and gather data and sources and images and videos and create full featured blog posts. They might spend literally day digging everything up and reading about topids and creating links and drafts and finally create a valuable work of art. Not everyone is a full blog post article writer. If you have trouble writing more than a few sentences or don’t have the time to invest into full blogging don’t worry. Put full blogging on the back burner. If you are already great at it and love blogging then Stish is perfect for your content. 

The micro blogging short posts are where many people find their most Success. The Social portal was developed to provide this type of user a wonderful experience while integrating various tools and resources of social networking. Short post might be less than 500 words. Generally there will be little need for Headlines and html syntax, though basic markdown is allowed in the social portal. You can quickly build a stream of short content that will allow other users to see your flavor of Stish. 

With either of the above methods of content creating you have to choose your topics well. You must be interesting and transparent and intellectually honest. Generally speaking most will want to write about a handful of tags or hashtags. Keep your content consistent and on a few subjects to give users a feel for what to expect from you. 

Good Bloggers and Micro Bloggers Network

How do you network online is a little different than in the real world. For instance online you can comment on other people’s content and strike up a conversation. You could repost another users content. You could join some groups and make some connections that way or even start your own if no other group has been created like the one you wish to start. One way for sure it to give back. You could write a post about how awesome another users post was and share a link to it. This will often get some attention. You can direct message people. Don’t spam but politely ask for tips or suggestions of other people whom you believe to be successful. People will often share some tips. 

Don’t be too good for people

We all have been there. We find success in life and we get busy and we fail to respond to someone message or comment or email. Sometimes it is because we might have gotten a chip on our shoulder and we need to knock that off and always try to make time for others. Sometimes you just get busy but we should all attempt to not think too highly of ourselves. Take the time to answer people back and welcome people to the community. It is well worth the effort.

A picture is worth 1000 Words.

This saying is so cliche but so true. Your profile and about you section is so important. People will often check this out before checking out photos or videos or blog posts or stream posts etc. You might have won their hearts with a great post and photo but then when They seen the ? mark head for your profile pic and no Banner they did not follow you or like your content or send a friend request. We are online and the world is full of creepos but some information is needed for humans to want to interact with you. 

Follow And Friend Like A Spammer!

We might regret writing this but the truth is that you need to make some friends and follow some people to start seeing any real feedback which is the encouragement food you need more than rewards to continue to create content. Social validation and the social contagion is real. We all want to feel validation of our thoughts and ideas and our shared content. Sometimes we do and sometimes we don’t. We definitely will not if we do not go out into the Stish world and search through members and the community stream and blog categories for posts we are interested in and like, comment, follow and friend. 

Let me repeat that one more time and make it bold this time… LIKE, COMMENT, FOLLOW and FRIEND. 

Those are the key ingredients so that you get the good happy feeling you need and it all starts by giving that feeling to someone else. It is like smiling at each other. You can meet a stranger and share a smile and a quick glance and often if just one of you would speak an interesting conversation. Far too often we fail to speak in the real world and online. Online it is again, Like, Comment, Follow And Friend. Of course only if you are interesting in their content and personality etc. 

Don’t go overboard. Maybe 50 per day or so to help you get started. Get maybe 100 or 250 follower and friends. Too many and it is hard to manage and stay connected. Not enough and you wonder who you are creating content for. Sometimes you just explode in popularity and dominate the space. Stish is small still and in its infancy. You can be the expert in your area before other show up. They will show up eventually as Stish will be large. 

Keep Them Coming Back For More

If you create content that you are passionate about you will find it easy to stay kind of on topic or in your realm. If you have zero plan going in you might find that sporadic, chaotic drastic content changes will turn people off. So one day you might have 250 followers and you generally maybe post about tech stuff or crypto stuff and then one day you get on a rant and go all political. Guess what? You might have just shot your own foot off. You can say and do what you want but the people might show consequences for doing so. Stay consistent in a realm and you can do well. It is ok to go out sometimes just try to come back to your core reasons people like you to begin with. 

Ask Question Conduct A Poll

This might seem obvious but people love sharing their knowledge with others and showing off how smart they are. I do it all of the time. In fact I am doing it right now. So ask some questions and let people give you some answers. Be sure to take time to thank people that respond and even ask follow up questions for clarity. You can’t lose when you get others talking about themselves or their knowledge.

Stish Often But Not Crazy Bot Often

Stish is a platform that you really need to try and login to everyday to be successful. The most successful users logged in 4x a day to be exact and posted as many as 8 times per day in the micro blog with an average of 6 comments per login and 2 blog posts per week. Yeah that is a lot of work kind of but isn’t worth it. Now is the time where you can really position yourself as the expert in your field of content. You have limited competition on the Stish platform and can really garner a great reputation. Plus rewards are high for early adopters and start to lower a little over time as the platform grows. 

Funny or Motivational Always Work Try It

It is ok to be funny and encouraging. Most people appreciate that and will be reciprocal which can motivate you towards more success. That is the neat thing about social media. You really kind of get what you put out. Telling jokes and sharing memes is perfectly acceptable. Sharing motivation quotes and encouraging others is powerful.

Invite People From Other Networks

Even when we get hundreds of thousands of users many will find it easiest to gain an initial following and friendship from people they already know on other platforms. It just makes sense that you would want to ask some twitter follower or facebook friends to be a part of your awesome Journey on Stish.io. Many people leave those platforms everyday in search of something more innovative and more user friendly. 

Participate

If you are on Stish.io then you likely share some of the same passions our founders do. You likely love cryptocurrency or want to know more about it. You likely are passionate about blogging or micro blogging and are looking for a unique experience that is different and often better than the larger tech platforms. You are likely deep down looking for a place where you belong and a social network you can call home for a long time. Participate in the community. After all it is you, each of you that make the place worth working on everyday. Each of you add value so participate and make your own value grow!

Friends Of Stish

Stish Launches Referral System For 2019 Growth Plan

Stish.io launched the 2019 website design which focuses on a more pointed user experience and easier navigation. With the cleaner leaner launch the much desired Stish Referral Program launches before the end of 2018. During 2018 many affiliate type systems were beta tested to many users delight and disgust. Each one had their own unique advantages but ultimately the direct link Stish Credit style won. The challenge to come was developing an easy way for users to grab the links they need without an overly burdening management system. 

https://youtu.be/0RhVeiayvWc

The above video shows how easy it is to grab your referral link for any page you wish to link to. Each user receives Stish Credits when users visit the website after using their link and also when users sign up using their link. Unlike the other system the new Referral system is working excellently with limits on IP address clicks per link to avoid scams. 

How to get your Referral link?

Getting your referral link is super simple. Once you are logged in to the website all you have to do is visit the page you want to link to. Then click the Hamburger Navigation in the top Left corner. (the three lines). Then scroll to the bottom and your Referral link awaits! Copy and paste it just do not spam!

TradeStishNow

Stish 1.0 vs Stish 2.0

What Is The Difference Between The Original Stish1.0 and Stish2.0?

This question gets brought up from time to time. Members who used the platform prior to the Summer of 2018 likely received Stish1.0 Tokens. They were developed as place holder tokens for an original concept that proved to not work as intended. As we pulled away from another platform and decided to create an independent brand and identity we began working on Stish2.0. The main difference between the tokens has been discussed in the social portal and in a few posts but to clarify let’s go over them again.

Stish1.0 Had ZERO decimals. It was never developed really for day to day trading. It was simply designed to be simple and show ownership or participation in our original concept SteemThat. Which was going to be a flavor of user interface for the Steem blockchain and also offered many cool tools. As things kept changing at Steem we made a decision to stop development and change directions and provide a real social network with an equitable rewards distribution system.  Stish1.o had the original contract address: 0xe743b591a9fbf593ff2214c4b3b7c9bf1122431a

which can be viewed here …. https://etherscan.io/token/0xe743b591a9fbf593ff2214c4b3b7c9bf1122431a  …..

Many people ask from time to time what they can do with the old Stish1.0? All accounts that had 1.0 which were less than 200 receive the New Stish2.0. If you still have the old Stish1.0 you can burn it by sending it here to this wallet address.  0x7673Ba7A671e6C439222B447E32CA22B6Da428c6

STISH1.0 Is Completely Phased Out And Will Not Be Traded Or Supported By The Stish Team. We do not expect to have any other version changes unless we launch our own blockchain at which time the currency will be easily convertible. ( 2 years away or more.)

So what can Stish2.0 do that Stish1.0 couldn’t do or do easily?

Stish2.0 was developed with more advanced Ethereum protocols. Stish2.0 is actually an ERC223 token and is exceptional at not losing tokens. The old Stish1.0 contract would receive tokens and lose them. People would send crypto directly to the old Stish1.0 wallet address or smart contract address and lose their tokens. Stish2.0 prevents this from happening. This is super beneficial for all who use Stish!

Stish2.0 came developed and enhanced with features such as direct ICO participation. Users can always Simply send ETH to the smart contract address located here:

0xb472C71365eF9ed14226bB0AA4C9a3Fa45EcE510

and receive their Stish instantly at the price of 1 ETH = 1000 Stish. Which is a steal but supplies are extremely limited. We also were able to code in the ability to run the Token event from Stish.io and allow some simple charts and displays. Stish2.0 allowed us the ability to increase the Total supply from 1,000,000 to 100,000,000 with the expected growth potential we see possible. This allows us to do some air drops and promotional things that we were unable to do with Stish1.0. Overall Stish2.0 is leaner and meaner. It recently broke some trading day records which we were happy to see some volume. Stish can be traded on the Saturn Network.

 

You can view the contract on Etherscan and other websites that show smart contracts and explore the blockchain. Here is the Etherscan link. https://etherscan.io/address/0xb472C71365eF9ed14226bB0AA4C9a3Fa45EcE510

You can also learn more about the cryptocurrency and the hot wallets by visiting The Stish Crypto Page and Stish Wallet Page.

 

warning

It’s confirmed: Steemit is NOT paying => SCAM!!

I go on on my investigations about the Steemit SCAM:

It’s verified again & again: The posts/comments rewards are disappearing and NOT paid with some accounts! It looks like some accounts are marked as ‘UNREWARDABLE’!!

Steemit does NOT always pay the reward => SCAM!

 

Social Wallets On Stish.io Getting Phased Out?

Social Wallets On Stishit Getting Phased Out Replaced With Stish Wallets!

We introduced Social Wallets with the anticipation that people who were new to crypto would at least have a few popular wallet address to send crypto to. Authors could be tipped in top crypto currencies and even sell goods and services. For a brief moment in time we gave away over $1000 USD through our faucet in an attempt to increase conversations about the platform. We saw limited ROI and growth from the Failed experiment. Faucets can earn revenue if set-up properly but with mega falling prices we took a super hit on the faucet. The Faucet was sunset in October, 2018.

The use of Social Wallets has been dismal. Perhaps the concepts of them have been too much for some or we are way ahead of the times. We really thought there would be some use of them since they were free and all in one place as a matter of convenience. Easily tipping authors with top crypto and allowing all users to have wallet addresses for the major currencies just wasn’t a huge hit like we had planned and hoped for. Many people made some small deposits but rarely were the Social Wallets used to send tips to Authors or other members of the community even though it was as easy as deposit currency, and type the users names you want to send to.

We had originally adopted the software with the intention of using the hot wallet capabilities to facilitate easy quick light/hot wallets for users so that all users had a valid Stish Wallet Address. We determined that one reason for low adoption rate of the currency was ease of use to receive it and trade it. Since Social wallets were an utter flop we developed a wallet system specifically for Stish crypto and Ethereum. Now all members receive a hot wallet address Called a Stish Wallet. This stish wallet allows users to receive Stish and Send Stish from Stish.io. It is a very ultra light wallet that is lean and mean. It can do what it needs without being overwhelming. If you have not checked out the new Stish Wallets you really should take a look.

Members who are signed in can see their Wallet address here: https://stish.io/stish-wallet/ and they can also see the send form. If there is no ETH or Stish in your wallet you can see that also. You will need to Add some ETH to your wallet address to Send Your Stish From the platform. There are several places to purchase ETH for cheap now a days and you can easily after purchasing send it to You Stish Wallet address.

The main reason we added the Stish wallet was to make it 100% certain that all users would be able to receive Stish. Many people would request an Exchange from Stish Credits to Stish crypto and provide a bad ETH address or an Address that would lock up their Tokens and they would lose them. That wasn’t cool. Plus if members failed to Add an ETH account to their Profile we were unable to automatically exchange their Stish Credits to Stish Crypto. We are working towards and automated system but with ETH it is not so easy unless the user is connected to the Application as a web3.js connection using MetaMask or Saturn Wallet and not everyone is familiar with this or will take the time to learn 20 things before getting started. So we decided to use our own simple equitable points system and convert Stish Credits to Stish Crypto 1:1. Plus it lessens the fees and burdens on the ETH network as it could not handle the transactions that Stish Credits handles everyday. ETH is great for currency accounting and ledgers etc but not for full scale applications yet. So Stish is a hybrid on chain off chain solution and is constantly developing and attempting new things that have never been done before!

We believe the micro crypto economy will be best served when we focus on the core principles of the platform. When we provide a wonderful easy to use social networking platform that handles all of the hard cryptocurrency stuff on the backend where the end user can start today and continue to learn and grow their cryptocurrency knowledge over time.

With keeping with the traditions of testing and then streamlining what works from what doesn’t work we will officially remove Social Wallets December 31ST, 2018 or As Soon As everyone removes their Funds from the Social Wallets. Social Wallets will be replaced with Stish wallets and serve the real purpose we need which it to not over complicate a complicated thing like cryptocurrency wallets! Stish Wallets allow for sending and receiving of Stish cryptocurrency. There is also a fee free way to send and receive Stish Credits through the platform. Stish Wallets will allow users to temporarily store Stish crypto and send their Stish crypto to their Meta Mask or Saturn Wallet addresses for trading or storage.

The outcry for support of Social Wallets has been heard and felt. The desire for many to have a real Ebay or Etsy style store that accepts crypto has also been heard.

We had  a poor rollout of beta tested Marketplace and for security reasons pulled the plug. We have worked on things in a test environment and may release Social Wallets and Stores Again in 2019 if we can get the bugs worked out. Thanks for the feedback. We listen at Stish.io

Thank you From Stish

A New Way To Think About Cryptocurrency As Rewards Based Social Media Or Gamification Strategy

For over 1 year we have been working to refine our message to make it as easy as possible for new people who want to get involved in cryptocurrency to understand what crypto is and how Stish and Stish.io have value. We often found ourselves talking about the first cryptocurrency Bitcoin and then found ourselves talking about Ethereum which helps make Stish all possible as Stish is built on the Ethereum blockchain and their miners process it all.

We also are always asked, “How does Stish get value and why should people buy it?” So the obvious answer, it is a store of value and a unique type of time value asset class that will have a free market trading value. This value might come together based off of how people value their time and energy to create content (the PEE theory we discuss from time to time) and also what the markets are willing to pay for the currency. People looking to buy the currency are hoping the value goes up. In theory all people value their time and energy more and more as their government issued currency feels inflation and they see the costs of goods increase and wages increase etc. So there will always be a tendency for people to value their time and energy or artistic value with a government issued comparative in mind until crypto takes over the world!

This answer is sufficient for me and as Stish starts trading on exchanges again soon we will see where the value of Stish goes. I would like to see the low sellers gobbled up and people who value their time and energy and artistic value determine the price through their sell orders and demand anyone wanting to hold Stish pay a fair minimum for it. This is a perfect world and who knows if this is even achievable. As we develop for the Stish Stash platform which is a gaming platform we have came up with some creative new concepts.

Crypto Creative New Concepts and Math To Back It Up!

With all new technology especially cryptocurrency and rewards based platforms investors or lenders of capital want to see some hard numbers. They could care less about theories or estimates. They seriously just want to see how the platform or currency can afford to pay them back for their risk and they want to see the hard numbers.

Over the last year we have spoken to many financial planners, bankers, investors, average ordinary traders and users. We have learned a ton about the space and also discovered things that many people may not like to talk about. We have uncovered new risks,which crypto has it’s inherent risks, and we have found workable mathematical formulas that can be replicated. The challenge is often just getting accurate metrics to understand real costs and plugging the numbers into the formulas.

We have tried several different routes to take Stish to the next level. We have allowed small purchases of the Token by users to help fund development. This has been helpful but in total we raised less than one half of one percent in total invested revenue into the project. We did not advertise much and perhaps leaned heavy on hopefully going viral or people sharing the platform with friends and family too much. With a real financial incentive for growth being so in your face we just assumed people would naturally take it upon themselves to drive growth of the platform. We were flat out wrong!

Not achieving the type of success we had hoped for naturally we talked about seeking corporate financing to grow the platform. We still will likely have to do this if we do not resolve the problem with explaining the incentive properly for natural growth. When looking to get all of the numbers that bankers were asking for we uncovered our one flaw in our failure to achieve natural growth like we had hoped. It became apparent to us that we had not really ever conveyed how Stish really has value especially in the future. We often just assumed that because we understood something that others understood things and we all had the same baseline of knowledge. When it comes to cryptocurrency this is a huge mistake. Everyone is at a different level of knowledge and understanding and we need a simple point by point explanation of the core things to even discuss the more complex issues.

Formulas and numbers could help people see the big picture much easier than just assuming they already got the big picture. We also looked for ways to actually create revenues through traditional means to add more value that traditional business minded people could see and then do analysis from. For instance we will likely bring back advertisements sitewide to help cover operating costs, but instead of pocketing the profits how about we actually share the revenue with each member. So each member receives Stish and they can trade it on the free market. Their Stish is essentially representative of the value that they add to the platform. Whether it be through content creation that then receives ad revenues or their content causes new users to join which then increases ad revenues or Stish distribution.

The key is that each user does have a value to the community and that value can be sold essentially as needed. Users then ultimately own the platform that they seek to develop and grow. There is a super incentive for members to share the platform with other. For members to create only high quality content. To interact with others in a positive way and create comments 0r supportive content. Members control their own worth really and for the first time actually can sell their social networking worth from time to time of hold it for a raining day! Most people are already creating social media content or blog content somewhere so allocating that time to Stish It makes better sense. They can then one day actually get something for their efforts verses just making large corporate elitist social media conglomerate filthy rich.

The power is returned back to the people through this business model.

The model is quite simple and the math is easy for most people to wrap their heads around. It is the only logical way to develop a social media rewards based website and might be a logical method for gaming websites as we will launch in 2019 to test it out in that niche also. How does the math add up and what is the magic formula for success?

Always keeping user interest in mind is critical. Getting a website actual costs and profit percentages is also important. All of this could be lumped up into one sum total called overhead or operating costs. Generally profits are not calculated here but for easy math a fixed percentage of total revenue works as the real value for the platform is in max growth and one day small liquidations of reserve currency. In the case of Stish the owner and founder retains 10 Million Stish. The incentive then is performance by the founder and team to grow the platform and keep operation costs down. In doing this the value of the currency over time should rise and make a ton of people wealthy! Not just the founders and early adopters but every day users of the platform and currency! That is the design goals anyway. This is not a statement of fact or guarantee of any kind just an ideal outcome in a perfect world.

If we take Stish back to an ads based revenue model and then use any remaining profits after operating costs to buy Stish off the market there is a major incentive for each member to grow the platform. The more ad revenue generated the better. The better the content the better the traffic and the more ad revenue. This will also help with policing the platform. Bad content will get flagged and removed as good content creators will only want the best created to increase ad revenue. The formula and math is quite simple with this method. Let’s look at the numbers and formulas that Stish will use to change the cryptocurrency landscape.

Here are the buzzwords or values needed to determine the metrics properly.

  • User Acquisition Cost
  • User Annual Value
  • Average Annual User Cost
  • Total Supply Of Stish
  • Total Circulation of Stish
  • Total Number Of Users
  • Total Ad Revenue $ Generated
  • Total Operating Costs
  • Platform Value

The platform value is the value of all users in total minus the total operating costs. This can be calculated monthly and quarterly and annually to track growth health of the platform. I think these numbers all should be made public and be accurately kept. If each user has a value of $1 per month of generate ad revenue on average and we have 10,000 Users then our monthly Platform Value would be $10,000 minus operating costs. Easy enough I think.

The user annual value would be the ad revenue generate on average per user for a given month and then multiplied by 12 to give us a yearly average value per user. So if again the average value of all users was $1 each in ad revenue then the Annual average user value would be $12 and this is important because the typical user acquisition cost should never exceed this amount and ideally should be as close to the monthly user annual value as possible.

User acquisition cost is the amount that it takes to acquire a new customer/user/member. Users in this case are active members of the community. There are users that could simply be viewing content and creating ad revenue that are not actually users in the sense of actually receiving Stish crypto. These users are viewing only users and do become valuable at a certain threshold to add significant value to the platform. In our use case we look at contributing members of the community and receivers of Stish crypto.

The total minted supply is constant at 100,000,000 Stish

The total circulation is important as this would be the maximum amount that could be sold at any given time. For instance if 100,000 Stish had been issued to users and early adopters then 100,000 Stish could be sold. Total circulation is important for the ad revenue sharing model we propose. With the sharing model Stish is constantly being bought with ad revenue profits which helps keep markets liquid. It can also determine the future value of Stish as revenues increase and supplies decrease sell orders values could increase as the ad revenue profits could be averaged to help determine the lowest buy price.

For instance if we generate $2000 in ad revenue one month thanks to users who created content and users who viewed content and ads and We distributed 10,000 Stish. If all 10,000 Stish were to be put on the market and we spent all $2000 to buy the Stish or make the market then the lowest price Stish would likely sell for would be 0.20 or potentially we could buy up any Stish at this price to make the market and hold the price threshold. So each member would have incentive to create the best content possible, to increase users via sharing of the platform and content and police the community by reporting bad actors. There would also be a huge incentive to hold the Stish and thus increase the market making pool.

If the market making pool that is funded from ad revenues increases and Stish circulation decreases there is a greater potential for a higher lower threshold. We can look at the same example above. If no Stish needed to be purchased as there were no sell orders needing to be made and we Still had the $2000 from the first month and the second month adds the same or additional ad revenue due to growth but total stish circulation doesn’t always increase the same due to non member ad revenues. So Maybe membership and Stish distribution was only half as much as the first month. So 15,000 Total Stish is in circulation but ad revenue is $4000 total. The value that users created for the platform has increased. The bottom buy threshold that we could place would be at 0.26 cents now versus .20 from earlier. We arrive at this number because we have $4000 available from ?ad revenue for market making. 4000 / 15000 = 0.26 which could change dramatically from month to month.

Using an advertising generated sharing value model to help support the lowest threshold of the currency has many useful benefits from added liquidity in the markets to helpful assistance with baselining bottom thresholds. It also incentivizes a natural growth and progression of the platform and allows the platform to operate like a normal business while growing and supporting its members that make it possible. It truly does return the value of the social networking website back to the members who can choose to dump their Stish to show anger for a bad development decision or hold their Stish awaiting higher values in the free markets. This model has advantages for traders and investors also as it gives metrics that they are accustomed to looking at for traditional trading and can add some platform stability into Stish pricing decisions. Stish is not a stock of the company but the actual value of each members efforts which has never been done and never could be done until cryptocurrency technology was developed.

Stish It provides the ability to turn your time and creativity into Cryptocurrency that can be a store of value or traded on exchanges for other currency and even fiat or government backed currencies. For the first time you actually control your own social media value not some troll in a distant land. For the first time you have access to sell that value as needed and as the market allows for that value to be sold instead of just making a few social media founders multi billionaires. You built the large social media platforms through your content and participation and now they use their money and power to shut down free speech and bully people they disagree with from all walks of life. NOT ANYMORE… Tell those guys to Stish It!

Find Your Self Buying Stish

Stish Is Celebrating Big News To Wrap The Year Up!

With every new endeavor there will be hurdles and challenges.

If the road was super easy then everyone would be doing it and there would be no reason for us to try. The social portal has had its ups and downs with performance. Numerous bug conflicts have been found and discovered and remedied recently to speed up the platform overall and we are seeing our fastest speeds ever. With great ideas like Stish there will be bad actors that seek to attack it constantly. I’m not talking about speaking badly about the platform that is inevitable, I’m talking about constant brute force attacks and ddos computer attacks and various attempts to simply overwhelm our servers and bring us down. In 2018 we successfully defended near daily attacks and only crashed 1 day though we have had performance issues as a direct result to constant senseless traffic attacks. Stish pushes forward even after several blunders with domain naming and branding early on and the relaunch of the Stish cryptocurrency.

The Year Can Be Measure A Success!

Overall the year can be measured as a success. We finally got branding under control and have built numerous graphics. There is still room on the canva dev team for those wanting to churn out more graphics. The message has been drastically refined from a complex intertwined crypto system that was heavily tied to another crypto and brand to begin to define its own. In a nutshell Stish It is a distribution mechanism for the cryptocurrency Stish. User can create different types of content or interaction and ultimately receive Stish for their efforts. Stish can be traded on multiple exchanges and can be handled as a store of value token. We are so close to finishing development that a token event is likely not really needed. Being the founder I can easily finish self funding the development next year and simply deliver free of charge a robust platform for people to use. Over time as the Stish circulation and holders increase and trading prices increase we can slowly release some crypto into the markets to cover future operating costs and recoup some costs over time and provide still people with trading ground floor opportunities.

2019 will be a significant year. I think it will show people that I personally am invested in the project for the long haul and look to continuous improvement and development. With the launch of light Stish wallets within the platform and a semi automated Stish credits to Stish crypto exchange happening I think that will allow us much more scalability. Simplicity is key and some seam to think social media is dead or dying overall and so is blogging and connecting. The only areas of growth or in uber niche communities such as Stish It where people are passionate about cryptocurrency and the future of crypto. We hope that as we continue to grow and develop that people will see the store of value potential that Stish has and the circulation capabilities we have through the PEE theory of distribution.

2019 will bring about Stish being listed again on the Saturn Network exchange and likely a few other exchanges that have the interested of traders  in mind. Radex.ai was awesome and the Saturn group has already launched ETC trading on the Saturn Network and it is the easiest trading platform that has been invented yet in my opinion. New people to crypto will feel less intimidated and should enjoy their trading experience. We are invested into the Saturn Network and do look forward to their future growth along with our own. ETH trading pairs which will allow Stish listing again should be available by 2019. We will start sending air drop requests once we are listed again and really increase early adopter circulation.

Let’s Close 2018 With A Bang!

For everyone who has been waiting all year for the double Stish bonuses your time has come. We talked about doing some double rewards and we did this in 2017 also when we first started to get some people’s attention. We hope it has the same effect as last time and will encourage people to share with their friends and family and strangers and increase growth of the platform. Stish Credits for blog posts will double until the end of the year and daily caps will stay the same. Comment rewards have also been significantly increased until 2019! We know that comments are really the lifeblood of any successful community. People work hard to create content and many friendships are born when users share sincere comments about the content.

Thanks for a great year even though we had some ups and downs!

 

We Still Look To Give Away 1 Million Stish which is 1% of total Minting to all early adopters. You have To Sign Up!

Stish Air Drop

 

warning

It’s proven: Steemit is a SCAM!

Some days ago, I was surprised: I did not receive anymore rewards but because Steemit behaviour is complex, chaotic and unpredictable, I did not care about that on the first time.

Until I saw one of my posts on https://busy.org/   It was displayed I’ll receive my rewards in 29 minutes. So, I waited and I saw the rewards were RESET TO ZERO and I did not receive the rewards in my wallet!!! WOW!!!!

Since this day, I have investigated with my other accounts: ALL WERE NEVER PAID!!!

One more time (like I reported in my previous post here), there is no information in the accounts and post some details showing that my rewards will not be paid.

So, what does it mean?:

1: Steemit is ‘blocking/freezing’ some accounts, a sort of filter or censorchip. It’s not honest. Robbing people means Steemit is a SCAM.

2: It means that ALL what we do on Steemit is closely monitored and this is made before the datas are transferred into the blockchain. One more time, it shows that Steemit is centralized. It’s not a real blochain.

More later about this scam? I go on to investigate 😉

(Sometimes, Featured Image displays an error)

 

More about the Steemit SCAM

For ONE day:
414.352 MVESTS delegated

So many VESTS delegated in ONE day!?!? Do you think they are created by ‘miners’, by posting, commenting, trading or brought by REAL money?

#Steemit goes on to create VESTS. More and more people are leaving this SCAM. With the HardF***ing20 less and less people are interested by this bugged pathetic ‘social network’. Sociopath trolls flaggers are reported.

https://steemit.com/report/@banjo/banjo-report-for-monday-december-18-2017

The Anonymous Steemit Victims Defence League has updated their webpage:  https://justpaste.it/1jpbl

Find Your Self Buying Stish

Hot Crypto ICO

There are tons of lists online talking about bitcoin and ether and litecoin. There are even more talking about hot crypto ico. Some of these people have even made videos talking about a hot crypto ico. I have watched many and laughed as some have no idea at all about what they are talking about. Being a hot crypto ico isn’t just about how much funding you raise and how fast you raised the funding. To make the hot crypto ico list there should be many other consideration in our opinion.

Let’s Look At A Few Things You Should Look At To See If The Hot Crypto ICO you are looking at is hot or not!

There are tons of projects out there and many are promising you the moon and a free space ride to mars. While blockchain technology and cryptocurrency is pretty awesome there is a bunch of hype in the space today even after the big rise and crash of cryptocurrency in 2018. Yes in 2017 many cryptocurrency went crazy and pricing drove to new heights as the media and average people from around the world for the first time actually purchased crypto or digital currency for the first time. Many having only heard of the new digital money just weeks before trying to learn all about cryptocurrency and the hot crypto ico’s to get in on the ground floor. Were there many millionaires made? Yes, but let’s be real I was not one of them. Most people did not get in early enough and many got caught with their pants down!

In this article we will reveal a few things you need to look out for when looking at hot crypto ico’s to bet on. Let look at a quick list and then go over each one together.

  • Brand Awareness
  • Team Awareness
  • Problems Solved
  • Is it doable
  • Developments
  • Financial Plans.

Many will argue that this list is not in the right order. This might be true for people who are looking for a sure bet. Far too often people will rule out high quality token ico projects too early because it might be missing one of the things on my list early on in their inspection if the ICO. The above list is not in any special order on purpose. Each project ICO should be examined in its entirety and then a decision should be made whether the ico is hot or not.

hot crypto ico

Let Us Now Examine Each Component To Determine The Hot Crypto ICO

  • Brand Awareness is important. Far too often many of these cryptos are choosing very confusing names of domain names for their project that is very hard to spell or remember. Often they are using a brand name for their project that is completely different than the brand name for their crypto and this is a bad sign. When everything is too confusing it might not be the hot crypto ico that it appears to be right now. Many people will look at a hot crypto ico several times before deciding to pull the trigger on getting in. Having a difficult brand or the brand associations are wacky will make it a challenge. We know from personal experience that having to rebrand anything about your project after the fact is a challenge. Many people with excellent ideas get started and perhaps are too creative and overlook the basics with branding. Don’t jump ship on a hot crypto ICO just over branding issues but it is something to consider.

 

  • Many hot crypto ico guides will tell you to look at the team. Ok that is a great idea kind of. Many people involved in cryptocurrency love their anonymity. Some will use fake names and fame photos because in their country being a part of a cryptocurrency can get them life in prison or a firing squad. Some governments mainly do to how much control the large banking giants have over the world economy have made laws that are not friendly to crypto. Sometimes this means that people must hide their real identity from their jobs and government for fear of death or loss of economic position. This is a shame but is true. Many hot ico projects had just fake names and fake people all together and were running scams. Do some serious research and make sure that at least some of the people are real people and are not complete ghosts online. No online presence is a red flag most times. However, there are some great projects that are anonymous that I support and invest in so if I said never ever go with an unknown team I would be a hypocrite.  Even if a project has a great team, how do you really even know that? C’mon man, unless this is what you do for a living then there is no way to tell who all of these people are and whether they are a good team or a bad team really. In the real world most of the dirty coding work is done by a handful of people. This is like 90% of the hard part really. There might be 100 people overall involved to make the 100% completed project. Hot Crypto ICO teams is kind of a myth. People can buy prestige and pr firms to pump up their image. Don’t be fooled!

 

  • Knowing if there is even a problem to solve is essential to knowing how much value the ico project really brings to the table. Some people are good at spinning stories and telling tall tales. These same expert writers might have you convinced that if we do not do something about a certain problem right now the whole earth is going to be destroyed. The problem exists but the level of detriment  to society is often conflated. But this caused people to panic and make rash decisions which is great. Hey, who doesn’t need a little extra fear and stress in their life right? A hot crypto ico will have a well defined problem that you can clearly see needs to be solved. However, this may or may not be resolved best with blockchain technology or crypto currency. Keep this in mind. You will see on most people’s list that a hot crypto ico will solve  a problem. If it doesn’t solve a problem don’t invest!

This is total BS. Solving a problem certainly helps but there are tons of video games being built around crypto that suck. The games graphics are terrible, the names are bad, they are being developed poorly to say the least and crypto is being added in. Which there are some gaming applications where crypto would actually do best but adding to an existing game might be better verses developing a crap game and adding crypto to it. Find a game like plants vs zombies 2 and talk them into building 3 and powering it with crypto! All of that in game currency, can be spent on other games or traded for other crypto and then you can get paid to play games for real! Watch Sony add crypto to games in the future. The market would allow people who want to buy in game currency to buy from other users not just the Game Maker! This is why it might not ever fly in real world games unless the real world game maker was smart enough to own the exchange and charge fees like coinbase or changelly!

  • Is it doable? This is a great question. So some hot crypto ico projects will have great ideas but the technology is nowhere near ready to do what they want to do. So the answer is no. It can’t be done until some other major technological advancement happens then it is likely never going to happen. Think about the this for a second. If you could have bought a newspaper business 20 years ago you might have made money for 2 more years before the internet really took over and newspaper were lost. If you knew smartphone were really coming or kindle readers then why not build your business around a digital model?

They could not predict the future well enough to know the future would be a ton of fake news and entertainment only news broadcasts. They never would have thought that almost all media is owned by a few large corporations. That the technology that was supposed to free people’s minds and allow them to learn anything at a moments noticed would actually end up causing the collapse of the whole newspaper, television, radio, industry collapse. What I’m getting at is that a ton of people could have looked at some of the tech companies like amazon and many did and they said it wasn’t doable.  Many said facebook would never overtake myspace! People said bing would compete with google. But is it doable? Really can what the project says it wants to accomplish be done? If it can be done then it is likely a good project and you have insight like no one else has ever had.

  • If the ideas are just all on paper and there is nothing at all to show that they are working on a project you might should reconsider. Anyone can setup a free github account or bitbucket account. There should be something there. Even if the activity isn’t much there should be one in existence. For me the day of buying that hot crypto ico with a big idea that solves the world’s problems and makes me feel all gooey is over. I will hopefully not be scammed again…. To be scammed means a company or individual had the intent to scam you. There are scammers out there that exist. Many scams are not actually scams though. Often people or companies put out a ton of effort and just ultimately fail. Most businesses fail actually according to leading business stats.

The success rate of hot crypto ico projects has yet to be seen but I’m going to guess that it is in the 10-20% range of success. If you are scared of failure you will never try and if you never fail you will never succeed! Never risk more money than you are comfortable losing in any hot crypto ico period. Just don’t fall for it. Even if you could be  gazillionaire one day don’t waste all of your money on the next hot crypto ico. No matter how great the idea is and how doable the goals are the actual plans could not work. The key people could quit the project. The project could be wonderful but ahead of its time or not marketed well. There are many reasons a hot crypto ico fails. One reason is likely under funding and mismanagement of the financials not a deliberate act to scam anyone.

  • Financials might be the key to determining if an ico will truly catch fire and be a hot crypto ico. I would say that we here at Stish need to invest around 50 cents of every dollar earned on marketing until the natural growth of membership can overcome the marketing ROI and even then there will always be a steady need for marketing as some people will leave, pass away, get bored, be placed in jail, get married, have kids, etc and need to be replaced. Knowing how a company plans to spend the money raised from the TOKEN EVENT or TOKEN ICO is critical I think to whether you should spend one penny! If there is no plan there is no investment of my money period. I can overlook almost everything else but I know that a proper plan needs to be in place or it can’t be implemented. There are many successful token ico projects that have been kind enough to help us save some time with Stish and share some things they learned. For this we are very thankful as it will save us money and time.

Do your due diligence and understand how much currency supply is being sold, given away, added to a rewards pool, given to owners or founders, given to advisers etc. You want to know how much of the crypto is being sold of the total supply and here is why…. If there is a currency that is being sold for let’s say 0.01 USD or 1 cent per cryptocurrency and they only plan to sell 1000 then they will not raise enough funds to do anything really productive. Many people laughed when I said I wanted to raise close to 3 Million USD. The difference between them and me is that I understand the costs that it will take to be a successful token and brand for the long haul. We at Stish understand what our costs will be to scale to the desired 100,000 Minimum Users one day. We know that just to reach our first 10,000 members can cost as much as $5 per person. We also know that the average person will spend $10 to buy some Stish to help fund the development.

If you have read the whole guide you know that we know that sometimes no matter how well you plan things don’t go as planned.

We have been able to adapt and overcome like a super hero. We are almost 100% self funded and that has been awesome. We have to give up less of the currency in order to raise the funding needed to take the platform to new heights. By owning more of the currency we can be certain that we can help shape the community plus as needed in the future sell some more Stish, only if needed, and raise capital for future demands or development. We have Stish set aside just for this and once the currency is trading well and the markets are comfortable we could perhaps sell some Stish to cover those unplanned moments that actually happen in real life.

There are many tokens and hot crypto ico projects that you can get involved in. All of them have there positives and negatives. Most will take years to really show any return on investment. Some might be so hot that they jump up fast  and you can monitor these and take action as needed. Blockchain technology and crypto currency isn’t always the best solution for every problem.

We have our own currency and platform and we would love for you to consider us in your hot crypto token news or portfolio.

Find Your Self Buying Stish

This article is an opinion piece and should not be taken a professional, trading or investment advice. You should seek the services of a competent professional. An ICO refers to an Initial Coin Offering. This might be illegal to participate in depending on your country of origin.

Find Your Self Buying Stish

Stish Token Event Participation Just Got Easier.

How Easy Is The Stish Token Event?

There has never been an easier way to participate in a token event ever! The best thing about the Stish Token Event is how easy it is to be a part of it all. We are building an amazing community platform around the cryptocurrency Stish. Community members get Stish rewards when they do things that benefit the total community such as creating blog posts and micro-blog posts. There is a whole list of awesome ways to earn Stish rewards.

The development of the community is nearing completion which is great news for you.

Most token ICO’s or token events just have some thoughts or ideas floating around. Very few of them ever even develop any working prototypes or are able to actually launch a platform to solve the problems they talk about. Stishit.net and Stish crypto are different. You can actually join the community and be a part of the cryptocurrency revolution before you help fund the development. For the first time in history you can help control the direction of the social network that is being built. Isn’t that amazing news? We thought it was really awesome to have FREE SPEECH and Cryptocurrency interconnected into a social media platform.

With most ICO’s the risks are very high as there is year development generally speaking.  With Stish and Stishit.net we are nearing completion of the social networking platform that will allow all the Stish cryptocurrency supporters a super great place to relax and discuss crypto and whatever else that come to mind.

Stish will soon be wrapping up the Stish Wallets which will allow everyday internet users the opportunity to experience crypto possibly for the first time. This will also help us ease into automation of the rewards system. No more oops about adding a bad wallet address to your profile!

What are some Challenges that Stishit.net and Stish face that we need help overcoming?

With the platform being nearly finished and self funded up until this point many often ask,” How will you use the funding?” The challenge at this stage of the game is funding for Stish distribution initially to massive amounts of users. We have self funded an enormous amount of currency distribution but as we scale up membership and distribution we will become cash strapped and be unable to meet the demand for Stish distribution via rewards.

The second challenge that we naively learned about was that listing a currency on large centralized exchanges with plenty of liquidity isn’t cheap. We are looking at realistically at minimum $100,000 USD in funding for just 2 major exchanges with API services so that we can integrate Stish cryptocurrency into not only this platform but other platforms much easier in the future reducing development costs drastically for future projects using Stish. Cryptopia for instance has a listing fee of $45,000 USD plus market maker fees and essential liquidity guarantees. This was one of the lower costs high producing centralized exchanges we looked into. Other platform have a far greater buy in fee.

Most successful ICO projects typically spend between 50,000 and $300,000 USD in marketing to raise million of development and operation dollars. We have been a grassroots project and spent less than $1000 USD so far in marketing. Most of this was to have users actively testing our Beta versions of different features of the platform. We will need more funding to successfully launch a token event. Doing so will not be a challenge and we have been speaking with different companies and examining many different offerings in regards to which avenues have yielded the highest ROI. We will likely invest enough funding for an analysis of our user acquisition costs and how many users do we need to acquire before we see Stish Token sales. Which we already have some data on this so far but a further marketing study would be needed so that we could allocated funds as judiciously as possible.

 

What Is The Main Concept People Are Buying?

The concept appears simple to me. In a nutshell people create full blog posts, or share short content posts (microblogging) and create comments etc and receive Stish Credits for their efforts in building the community around the currency Stish. We will soon Automate the exchange of Stish Credits to Stish crypto once the Stish Wallets are ready so that all members will receive a Stish Hot Wallet a.k.a Stish Light Wallet.  We could run payouts monthly or weekly in Stish Cryptocurrency. Some development is still needed for complete automation. Once complete the ease of use of Cryptocurrency for tipping other content creators is kind of cool.

More importantly, being rewarded in crypto for building a social network verses all of the value of the company going to the CEO or Shareholders is a dramatic redistribution of the normal flow of economic incentive. For all of the large social media companies that exist today the founders and a few of their friends who sit on the board typically rake in all of the profits along with a few shareholders for all of the user’s hard work. Most people don’t even think about it but each one of these large corporate social media companies only see you and your content as a $ sign! With Stishit each member is not being given Stock or dividends but they own their content and the value which that content has.

Different content types have different values pre-defined that can vary in rewards to be received upon completion. (see a full equitable list of tasks rewards here. ) Some platforms have these rewards based on how much of the currency you already possess. Some award these dependant on the community vote which is also determined by how much currency the person voting possesses. Neither of these are very fair models. . Much like the lottery or casino. Average folks rarely win the jackpot as you would need to wager larger amounts of funds to have a real ROI or buy large amounts of tickets to increase your odds. Average people generally can do neither so that have lower odds of actually winning.

Many of the unfair rewards models are like paying 2 different prices for groceries depending on how much money you have. For example: If you bought a loaf of bread but already had 10, well you get a better price for the loaf of bread. If you are new to buying bread then you pay more for the loaf of bread. If you make less money the loaf of bread is double than if you make more money. This will essentially take the wealth from the poor and transfer it to the rich over time. It is a slick yet deceiving financial model where the poor get poorer and the wealthy get wealthier. The whole social media rewards concept was developed to help distribute the wealth of the social network back to those that created the value to begin with!

Stish and Stishit solve this with equitable rewards. Each person can create value and receive a predetermined amount for that effort. Since most of the Stish holders will likely be members of the community there will be a natural tendency to not do anything to jeopardize the value of the currency or the platform. People will want to talk about the benefits of the community and make positive trades for the betterment of the whole community. The actual value of each individuals contribution is thusly defined by their own perceived value of their efforts and the price they are willing to trade their Stish currency for. If people value their time and effort cheaply they might list their Stish for sale at a low price while other who contribute might value their time and effort more highly and list their Stish for sale at a higher price.  This is where there can be traders waiting in between to provide liquidity and drive pricing up for their own benefit naturally as we all would love to see ourselves rewarded  well for our efforts.

As a store of value time will determine what that natural value will tend to be based on analytics and metrics. Will growth of the platform play  a part? Will the increase in short posts or long posts be considered? Will lowering the amount of rewards issued per task over time cause scarcity in the markets causing a pricing boom? Time will answer all of these unknown questions. I hope to see you there at the finish line with me and hopefully standing there in awe of what a community that is passionate about a cryptocurrency can do together.

Find Your Self Buying Stish

The Token Event Is So Easy With Meta Mask!

For those new to Ethereum based cryptocurrencies, MetaMask is a browser plugin/extension that allows you to interact with Ethereum based cryptocurrencies. It is very secure and now allows you to send and receive currencies just like Stish with very little setup time or learning curve. They keep making it better with every update. MetaMask.io has a little fox icon.  With metamask you can create a wallet address that can send and receive Ether, Stish, or other ERC20 based currencies. So if there were other currency that was Ethereum based you could send and receive them. Ether wallet addresses are cryptographically created and begin with 0X. You will want to save your private key which is like a password that allows you to have access to your Ether Wallet Address. This is very important that you make a text file somewhere with your wallet address and private key. Generally it is smart to store these offline and one a clean flash drive or print them and put them in a fire proof safe. Ether based wallets can not be recovered without your private key!

How To Buy Stish?

If you already are familiar with Ether Wallet Addresses and have some Ether in your wallet address there are 2 super easy ways to participate in the token event with Stish.

  1. First you can visit the Token Event Page and enter the amount of ETH you want to participate with and it will show you the amount of Stish you will receive. Using the token event tool you can interact with the website with metamask for super fast participation.
  2. If you perhaps use MyEtherWallet or Build your Ether Wallets On Your Desktop then you can easily send the amount of ETH that you wish to participate with to 0xb472C71365eF9ed14226bB0AA4C9a3Fa45EcE510 . The current rate is 1 ETH equals 1000 STISH which is a deal no one should pass up period.

The above 2 ways are going to be your easiest way to buy Stish. You can use the calculator on the Token Event Page to see how much Stish you will receive for X amount of ETH. So if you were to add to the Token Event Page 10 ETH it would populate and show that you would get 10,000 Stish. Of course there are bonuses for large purchases of Stish.

Buying Stish now is one way you can help secure a bright future for the platform tomorrow. Your purchase of Stish will help fund Freedom of Speech for so many who are getting abused on other platforms. The ability to even think about doing something so radical to the social media industry is pretty sweet. Stishit.net and team are taking it beyond a simple thought and making it a reality. Stish is just the beginning of the awesome things we have planned for development in the future. Your support can help take the platform to the next level.

Now with the interaction of the Stish token event with Meta Mask participation just go so much easier. You can easily see how much Stish you will receive and even see progress of this phase of the token event. Be a part of something special and get involved today!

A probant experiment with the Steemit SCAM!

I wanted to make a test with this scam. So, I created a lot of accounts, more than twenty. My strategy was: Using a ‘stealth mode’ by minimizing the interactions and see what will happen.

So, I chose to NOT post but only COMMENT. Each of my accounts will upvote and comment every other comments of all the other accounts. No AUTO upvote because of the sociopath flaggers trolls.
Each of my accounts cannot comment more than one time a day (because of the trolls flaggers who flag people posting or commenting more than x times a day..).
A sort of undernet, a net inside the net.

There is the result:

1: I earn rewards when I comment. I earn rewards when I upvote. I earn rewards when my other accounts upvote my comments. And this, with all my accounts. So I have a question: From where these rewards (STEEMS) are coming??? I never invested some real money in this scam.
As I have posted previously, STEEMS are ‘created’ when foolish people spends some REAL MONEY into this scam. But it’s not enough. VESTS (parts of STEEMS) are allocated (delegations) to all the new members. All these rewards I have received cannot be ‘paid’ with the REAL MONEY invested in this scam. One more time, it shows the STEEMS are permanently created. It explains also why after more than 2 years, STEEMIT has still NO VALUE and most exchangers do not want to deal with this FAKE cryptocurrency.

2: Some days ago, the admin @steem has UNdelegated around 10 of my accounts! WOOOWWW!!! It looks like the admin does not like members earning rewards without spending real money in his scam. It looks more and more like the old famous scam DXGold.

3: Despite my stealth strategy, 2 of my accounts were targeted by 2 trolls flaggers. One is a permanent troll bot. The account targeted by this bot is DEAD. Thanks to this sociopath. They don’t like what you post/comment, so they destroy your account… what a pity!

That’s all folks!

Crypto-stuff detected #3 ENG/HUN – Earn tokens during the game

Eat people as a zombie, be a war-rider, do pump&dump, and earn real BTC in a MMORPG!

I start a series of articles, about crypto-related stuffs, what i find on Steemhunt, on a producthunt platform, where i’m a member, and i can dig cool stuffs. If i’m a boring person, i write to “my top5 hunt today”, or something like this. But isn’t top5, it is the topCRYPTO.

Of course, you can do it yourself on Steemhunt, there’s hundreds of products each day, but if you are interested about crypto, you can enjoy my digest, doesn’t need to spend hours there!

This article is more teaser, less review, and this is a kind-of-a-pilot-article, so i may need some upgrade at time.

HUN

Új cikksorozatot indítok, a Steemhunt oldalon talált kriptopénz-témához kapcsolódó dolgokról. Projektek, appok, webszolgáltatások, minden, ami a kriptóhoz kapcsolódik. Nem napi top5-ként, hanem topKRIPTÓként.

***

The gamers are unstoppable, and the game-industry knows this. We have many new or newish games, based on blockchains, and not just those that available for money, then in which you can earn money!

HUN

A játékipar pontosan tudja, hogy a játékosok megállíthatatlanok, és folyamatosan szállítja is nekik a napi betevőt. Sok játék tűnik fel blokkláncokon is, amelyek között van, ahol fizetnek neked a játékért, akár saját tokennel, akár bitcoinnal.Játssz zombiként, robbantsd fel a riválisok járműveit egy sivatagos, posztapokaliptikus Földön, vagy játssz online szerepjátékkal, ahol a cég btc-vel jutalmaz a teljesítményedért!

1:

It seems funny 😀 In the bored games you are faced alone with the enemy, just with your weapons, and you try to protect your brain, against the zombies. But not in this one! Be you the zombie! Discover new perspectives, meet new people, and eat them!

Photo #1 from Dunaremete, Hungary by kriptonik made on 2018-10-18 13:12 for Sola

In this game you can earn the ERC-20 ZOB token, what currently you can convert 0.0005 ETH/1 ZOB on exchange.

HUN

Zombihorroros játék apró csavarral, itt zombit alakítasz, nem túlélőt 🙂 Nem olyan unalmas, mint a 12 egy tucat zombivírusos játékok, amelyekből több, mint elég született az elmúlt évtizedben. Fedezz fel új perspektívákat, találkozz új emberekkel, aztán fald fel őket!A játékon belül egy ERC-20 tokent, a ZOB-ot kapod, amelyet aztán Ethereumra válthatsz.

2:

A Mad Max inspired MMO game, in the post-apocalyptic future, where’s no money anymore, except BENZENE, the last cryptocurrency, “and all people are killing each other for it”. Strong start 🙂 If you liked the Carmageddon series, i think, you should make a try 😉

I dont find nothing about the benzene, so i dont know, its worth something or not, but the game is cool.

Photo #2 from Dunaremete, Hungary by kriptonik made on 2018-10-18 13:12 for Sola

HUN

A Carmageddon és a Mad Max szerelemgyerekeként jött világra ez a játék, ahol a sivár, sivatagos jövőben az utolsó megmaradt kriptovalutát, a BENZENE-t hajszolva nyírják egymást a játékosok. Ezek szerint a btc a jövőben elveszti a dominanciáját a kriptoverzumban 😀

Magáról a tokenről nem tudok többet, szóval könnyen előfordulhat, hogy semmit sem ér (na de majd a jövőben!), viszont a játék elég király!

3:

A collectible, pimpable (is there such a word at all?) card game, based on EOS blockchain. For this you need some eos in your wallet, and you can’t earn directly coins, but like in Crytokitties, the ingame items are tradeable.

Photo #3 from Dunaremete, Hungary by kriptonik made on 2018-10-18 13:12 for Sola

And the Hamster-Neo is priceless 😀

HUN

Először azt hittem, valamilyen tőzsdeszimulátor lesz, ahol shitcoinokat kell dédelgetnünk, miközben cilinderben szivarozva kacagunk a dumpolt kisbefektetők jajszaván. De nem az. Klasszikus gyűjtögetős kártyajáték az EOS blokkláncon, párviadalokat játszhatsz a pakliddal, amely lapjait mindenféle megvásárolható tárggyal turbózhatod, így javítva az esélyeidet.

A kulcsszó itt a megvásárolható, ez ugyanis nem fizet neked a játékért (sőt, eos kell ahhoz, hogy játssz), viszont ha átveszi a Crytokitties helyét, egy-egy komolyabb lap elképzelhetetlen összegekért fog gazdát cserélni, abban biztos vagyok.

4:

Average MMORPG, but you can receive real BTC from the developer company GMO, based on your rank and missions! The company have own btc-mining operation for rewards, so maybe your old dream comes true, you can earn money during play games 🙂

Photo #4 from Dunaremete, Hungary by kriptonik made on 2018-10-18 13:12 for Sola

HUN

Ez egy ingyenes, klasszikus online szerepjáték Androidra és IOs-re, egy karaktert alakítasz, akivel le kell zúznod az ellenfeleidet. A játék nem blokkláncon fut, viszont a fejlesztők bitcoinnal jutalmazzák a teljesítményed. Ehhez a saját bányász-szekciójukat is létrehozták, hogy legyen miből finanszírozni a kifizetéseket. Ez mindenesetre előremutató hozzáállás, ha felül tudsz emelkedni az erősen rajzfilmes (értsd cuki animés) grafikán, érdemes tenni vele egy próbát.

ETHEREUM-LOGO_PORTRAIT_Black_small

What Is A Cryptocurrency Wallet? With Real Information.

What is a cryptocurrency wallet?

It has been many years since I first got involved with cryptocurrency. So much has changed since the early days of Bitcoin and Ethereum. Cryptocurrency used to be only for the computer nerds like myself. You either had to learn to install software and configure a node and use command line tools to generate a wallet or have someone help you do it. Only recently in the last several years has wallets for cryptocurrency been made super available for average internet users. Now there are easy to use wallet creation tools in your internet browser and for those wanting hardware style wallets built on their computer using special blockchain software, things keep getting easier.

What is a cryptocurrency wallet exactly?

First we might need to define what cryptocurrency is. There are many different kinds of cryptocurrency. Most consider cryptocurrency to be a currency that is built using blockchain technology. Some people might call it digital currency or internet money. Cryptocurrency is really special because it is virtually hack proof and the record of all transactions are typically held on a public ledger a.k.a. blockchain. Cryptocurrency is very awesome because of this blockchain technology which makes it generally a decentralized currency. Government issued currencies are centralized and can collapse easily based on policies, laws, wars etc of the government. Cryptocurrency popularity really came to life as a result of the world financial crises that started around 2008 where many banks and countries had to be bailed out or were chosen to be bailed out verses letting the free market clean house.

Cryptocurrency with their immutable, decentralized nature yielded way to the trading of the currencies against each other and government back currencies. Some have argued that they have no intrinsic value and the same can be said for many government backed currencies. Cryptocurrency such as Bitcoin made recent news as many people who purchased them in the early days became Bitcoin millionaires as the value of the currency went from pennies and dollars to over 18,000 USD per bitcoin. (Now hovering between 6,000 and 6,500 USD.) Other cryptocurrencies began around the same time often being built on the same technology with enhancements to the underlying code or protocol. In the last 2 years many new and improved cryptocurrencies have been developed such as Ethereum, Waves, EOS and Steem. (There are many others).

The really neat thing about several of the new blockchains is the ability for developers to build currencies  on top of the blockchain. Many have chosen to use Ethereum  to build their currency. Ethereum offers many tools that allow users to easily build wallets and applications that can run on their blockchain. Stish crypto currency is one such currency built on Ethereum. This allows for start-ups like https://Stishit.net to have the ability to launch products and services and raise capital faster than ever before and integrate a currency into a platform without having to also build the blockchain infrastructure which can literally take years to fully develop. We could get into more of exactly what cryptocurrency is and how cryptography works and private keys etc but we will save that for a whole different article.

FreeSpeech

Moving on to cryptocurrency wallets.

What is a crypto wallet again? Cryptocurrency wallets are the place where your digital cryptocurrency are stored. Cryptocurrency wallets come in many different flavors. The most important thing to understand about cryptocurrency wallets is that they are generally currency specific. For instance a Bitcoin wallet should only be sent Bitcoin. The litecoin wallet address should only be sent litecoin. Sending Bitcoin to a waves wallet address will likely cause you to lose your currency. Some wallets are smart and will simply ignore the transaction. Other wallets are not so smart and might allow the transaction to happen and the currency to be lost. When dealing with cryptocurrency it is like real money so you definitely do not want to throw it away. If you have a currency and are sending it to someone else make sure they give you the correct wallet address. If you maybe have purchased some cryptocurrency from an exchange such as changelley or coinbase and are then wanting to send that currency to another exchange or platform always make sure you are sending to the correct currency receive wallet address. This is the biggest mistake and can happen to even experienced traders and cryptocurrency gurus.

Most cryptocurrencies have a trading symbol. Often the currency and blockchain might be referred to by this trading symbol. The United States Dollar uses the Symbol USD and the Euro uses the symbol EUR. With cryptocurrencies they often use a trading symbol. Typically this symbol is between 3 and 5 letters as most exchanges will not list more than 5 letters for a symbol.  Some of the popular cryptocurrencies frequently will not have anything mentioned about them but their Symbol. For instance you might read a whole article about bitcoin but never see bitcoin spelled out. The whole article might just use the symbol for bitcoin which is BTC. If you are new to cryptocurrency this can be confusing at first. Especially when maybe trying to send crypto for the first time. After a few times you will get the hang of it and start having an eye for different popular trading symbols.

Bitcoin is one of the most popular examples and is often talked about the most online. BTC is a common currency so much so that many currencies and tokens will trade in the pairing of their currency and BTC. For instance you might see a pairing such as ETH/BTC. ETH is in reference to Ether the cryptocurrency that runs on the ethereum blockchain. ETH is a very popular cryptocurrency also and will often be talked about as ETH, Ether, or Ethereum though Ethereum is technically the name of the blockchain and Ether is technically the cryptocurrency. Other popular trading symbols of top currencies you might see from time to time are LTC for Litecoin and BCH or Bitcoin Cash. ETC is Ether Classic and there are tons of other cryptocurrencies with various trading symbols. Stish is our cryptocurrency for the Stish community and the trading symbol is Stish! We make it easy.

With a common mistake of the wrong currency being sent to the wrong wallet address there have been many new types of wallets pop up mainly for mobile devices that help negate this. Some platforms offer one wallet type systems that allow for the sending of multiple crypto currencies and they sort our and organize the currency through their software to help you manage things. Being old school the convenience of this is nice but the security risks are too high for my personal tastes. I like to keep my wallet addresses and what they are used for on a flash drive that I keep in a safe. The private keys are on a seperate flash drive in another safe. If for some reason I forget the keys or need to restore a wallet I can access this data but it is not readily accessible or connected to the internet typically when accessing this data.

There are many wallets now like Trezor.io and Ledger Nano and Keep Key which are referred to as hardware wallets. Each having their own unique usefulness. There is a great article that really gets into each one and compares them for the average consumer. They also compare various other hardware wallets and for now they can do this area far more justice than I can. You can copy and paste the link for yourself. https://99bitcoins.com/hardware-wallets/

For the most part personally I’m an Ether guy. Sometimes even Ether Classic comes in handy. Ether wallets all generally start with 0x for their wallet addresses which helps keep things in order for me. My Ether wallet addresses dominate my usb sticks and I really could consolidate at this point and burn a few wallet addresses.

ETHEREUM-LOGO_PORTRAIT_Black_small

THE COOLEST THING ABOUT ETHER WALLETS!!!

Wallets built for Ethereum are freaking awesome. These wallets can accept Ether, ETC and over 1000 Tokens built on the Ethereum blockchain with little effort from the end user. WELL MOST WALLETS ADDRESSES CAN>>> PLEASE READ THIS CAREFULLY!!! Far too often I have seen people send tokens to a wallet that is tied to an exchange and lose their currency forever! Many new people just getting started my use an Ether wallet address provided to them by a website or exchange. Generally speaking Ether wallets that are provided by a website or exchange do not provide the customers with the private key. Often they do not have the private key or access to your wallets any more than you do. These wallet addresses are often referred to as HOT WALLETS or Light Wallets! They are convenience wallets built to help new people send and receive a specific currency but not necessarily have full access to the wallet.

For instance sending Stish crypto to a hot Ethereum wallet will typically result in the loss of Stish…If you were to send Stish to an Exchange Ether wallet address ( a hot wallet) you will likely not be able to retrieve your Stish. When sending Ethereum Based Tokens you will want to make sure you send and receive the tokens to and from an Ether Wallet you have full control of with a private key or that the wallet address can accept, send and receive the token you are sending. You can build an Ether wallet specifically designed to handle Tokens using the MetaMask Extension for most internet browsers or by using the MyEtherWallet website. The Stish wallet is a perfect example of a hot wallet designed for sending and receiving Stish and Ether. You can send and receive ETH or STISH to this hot wallet. It is not designed to send or receive other Ethereum based tokens. Sending Random Tokens To Your Stish Wallet will cause you to lose those tokens and we cannot get them back as we do not have the private keys or access to your wallet addresses either.

These Hot or Light wallets are designed for your convenience and temporary storage of a currency. Many people use the wallets to Tip other users or to buy things from the website. Most people once they learn more about the platform and Ethereum will create their own wallet address using Meta Mask or MyEtherWallet.com and move their Stish to a wallet they have full control of. We encourage this. The Stish wallets are great for people who are just getting started using crypto as they have a place to store their cryptocurrency until they learn more about Ether and can create their own powerful fully controlled wallets.

Ether wallets are powerful. When you create an Ether wallet that you have full control over where you own the private key no one can touch your tokens. Always follow the online prompts about storing your Seed phrase and private keys in a secure place. You really cannot get access if you lose them and your funds can be lost forever! When you have a wallet address that you totally own and your private key which is just a fancy password basically is secure you can not send literally 1000’s of Ethereum based tokens to the wallet address. Personally I generally only keep ETH and one token per wallet address. Risk management in the event I do get hacked somehow only maybe one wallet address is lost!

With meta mask one Seed phrase will restore the whole list of wallets you have created using meta mask if you ever need to restore it maybe because you changed laptops. I generally will name each wallet address the name of the Token that it holds. You could add as many tokens as you want to a wallet address but there is another reason I do them seperate also. Some people hate having that much small Ether in all of the accounts because of all of the small transaction fees. I get this and if you are tight on funds then stacking 10 tokens per wallet might be what you need to do. Most tokens have to be added to your wallet to display. So you have to click add custom token and copy and paste the Token contract address then Meta Mask will display how many tokens you own and allow you to send and receive them easily from Meta Mask. Of course if you have not purchased or mined the tokens or someone sent them to you then they will also not display.

For many meta mask is the way to go to interact with Ether and Ethereum based tokens. My number one reason for liking Ether is that you are not burdened by using a centralized user interface to access your wallet or currency. There are many options that will allow you to utilize your wallet address and get the most out of your cryptocurrency. Exchanges such as RADEX.ai are allowing people to exchange P2p via a decentralized exchange. Another platform which will be out soon is AMP. It also will allow people to trade Tokens p2p without having to pay all of those middle man markup fees. We all hate fees and the decentralized exchanges are here to stay and help reduce any scams or manipulation by the large exchanges.

One thing that we all know is that when there is large amounts of money to be made there is always some bad apples that will look for ways to scheme or scam their way into your pocket. Often the media tries to make crypto look bad but it is no different than traditional money scams that go on all of the time. If some Prince or Princess from a long lost land wants to wire you money and they call you on the phone it is a scam and you should not accept their wire transfer and keep half and then send the rest back to them…Just do not do this… It is a known scam using government issued money. This doesn’t mean that all government issued money is bad, just like not all crypto is bad or being pumped and dumped to hurt buyers or investors.

With all things related to anything where you are spending your hard earned cash you should do your due diligence. Caveat Emptor or let the buyer beware is definitely at play often. Each person is responsible for their crypto currency holdings and you should not let someone else manage this for you. Really do your research and know that people who are getting rich in crypto are there but there are just as many who have lost everything. Cryptocurrency trading like day trading is very volatile. You really need to know what you are doing and how you are investing and know that it is a huge risk so never risk more than you can afford to lose. Many people think they will get rich overnight with crypto but it is not a get rich quick scheme. Most currencies take years to fully develop their brand and community and getting in on the ground floor of the right projects might make you filthy rich one day and if it all doesn’t work out you might lose your hard earned money. Be careful and use common sense.

Crypto currency wallets have varying levels of security. With most looking at desktop application that create wallet addresses and private keys offline as being the most secure. No online generated wallet should really be used for long term storage or large amounts of currency. Crypto is virtually hack proof ,at least the major players in the space always say  that it is, but if a wallet has a big enough value there will be someone who is smarter and faster that will likely try to access it. Don’t take unnecessary risks. If you are super computer savvy then building a wallet on a desktop is the way to go. If you are pretty smart but not that smart or bored then building an online wallet might make sense just don’t store your password or private keys online. So many idiots store them in like a public gmail account or drop box account and it is just stupid. Do not share your passwords, keyword phrases, or private keys with anyone. I have heard of people being scammed into letting someone else manage their crypto assets to help make them grow…DO NOT DO IT! They will only make their own assets grow… There are smart contracts out there and companies popping up from time to time that offer staking or placement of your tokens so that they earn some interest. Some of these are real and some have been found to be total scams and fraudsters. If it sounds too good to be true it might very well be.

SocialMediaRewards

I say that alot and it is often true. One thing people often ask about Stish crypto is how can we give it away? Well, we can’t just give it away as we would go out of business very fast but we can allow people to do tasks and provide value to the community and then assign them some of the Stish crypto for being a part of it all. Each member can get some Stish for building a crypto economy. Eventually we will have a large distribution and people may want to trade it and some will think it is worth more than others and this can often lead to trading opportunities that some will find favorable and others might not. At the end of the day the free markets will determine the value of Stish cryptocurrency and the members will make up the free markets we hope and help create a solid store of value token for all of us cryptocurrency lovers. If we all prepare for the next big major government meltdown maybe our micro crypto economy survives and our members live happily ever after.

Stish is the first of its kind. It is not backed by major corporate sponsors or financiers.  Stish crypto is a grassroots small team dedicated to the love of crypto and community free speech. With the help of a lot of small contributions Stishit.net has been formed and helps spread the Stish love around to as many as possible. From time to time Stish does have set aside some Stish crypto for contests and special air drops to help encourage growth and brand awareness. We get that for a currency to be successful it takes a large distribution and a strong community dedicated to that success. Stishit.net is growing and the currency is spreading and people are starting to see real progress and many are starting to buy Stish to show support for the platform. Instead of donating their money to an unworthy cause and getting nothing in return, members of Stish make contributions and receive Stish cryptocurrency built on the Ethereum blockchain. These contributions help fund further development and operation costs and also provide a voice for so many looking to be heard! Thank you for your support.

 

 

 

Crypto-stuff detected #2 ENG/HUN

Hello dear reader!

I start a series of articles, about crypto-related stuffs, what i find on Steemhunt, on a producthunt platform, where i’m a member, and i can dig cool stuffs. If i’m a boring person, i write to “my top5 hunt today”, or something like this. But isn’t top5, it is the topCRYPTO.

Of course, you can do it yourself on Steemhunt, there’s hundreds of products each day, but if you are interested about crypto, you can enjoy my digest, doesn’t need to spend hours there!

This article is more teaser, less review, and this is a kind-of-pilot-article, so i may need some upgrade at time, in my next articles.

HUN

Új cikksorozatot indítok, a Steemhunt oldalon talált kriptopénz-témához kapcsolódó dolgokról. Projektek, appok, webszolgáltatások, minden, ami a kriptóhoz kapcsolódik. Nem napi top5-ként, hanem topKRIPTÓként.

1:

Fiat-crypto gateway app. This is an IOs and Android app, with which you can create a personal account, and purchase BTC or ETH. And you can charge your credit or debit card!Its exciting, and if you think about it, and possibilities of developing, this can be a very popular app in the future.

Photo #1 from Dunaremete, Hungary by kriptonik made on 2018-10-17 11:06 for Sola

HUN

A tömeges elfogadottság egyik legnagyobb akadályát személy szerint abban látom, hogy bonyolult hozzájutni a kriptopénzekhez. Persze mondhatod, hogy letöltesz egy walletet, aztán a kinyomtatott qr-kóddal elsétálsz egy bitcoin-ATMhez, de legyünk őszinték, a magyar állampolgárok többségének nincs atm sétatávolságban. Marad a regisztráció a brókerekhez, tőzsdékre. KYC, hosszadalmas verifikáció, töltsd le, küldd ki, telefonos kód. Bonyolult, na, főleg annak, aki nem akar belemélyedni, csak használni.

Erre próbál megoldást nyújtani ez az app. Komolyabb review most nem lesz, ugyanis nem töltöttem le, majd talán a következő telefonomra, ez már örülök, ha működik, nem terhelem tovább.

A marketing szöveg alapján egy egy wallet program, amely kezelni tudja a bank- és hitelkártyákat is, és ELMÉLETILEG közvetlenül tudsz oda-vissza váltani kriptót és fiat pénzt.

Ha esetleg te kipróbáltad, és van személyes tapasztalatod vele, oszd meg velünk bátran!

2:

We know stablecoins, pegged to fiat. Why could be a stablecoin, pegged to a precious stones called emeralds? The pure emerald worth much more than the diamond, and i’m pretty sure, much more then the same weight of usd 🙂 Yes, its really good reason to make a stablecoin what based on this.

Photo #2 from Dunaremete, Hungary by kriptonik made on 2018-10-17 11:06 for Sola

HUN

Ezt nagyon nem ragoznám. Van dollárhoz rögzített stablecoin, időszerű, hogy egyéb drága eszközhöz rögzített is legyen. Mivel a drágakövek jobban tartják az értéküket, mint a dollár (vagy bármely egyéb fiat), talán ez stabilabb is. Mondjuk azt majdnem biztosra veszem, hogy ha helyzet van, nem fogok elutazni Kolumbiába, hogy kivegyem a széfből a drágaköveimet…

3:

Wow, a simple builder for not-coder people with graphic interface! You can make your own dapps on Ethereum blockchain, without any programming skills, and more: you can deploy your smart contract to blockchain instantly!

In cryptoverse we need more user, more accepting place, and daily-use, simple apps. Mass adoption, you know. Maybe you’re going to do the breaktrough-app, with this tool…

Photo #3 from Dunaremete, Hungary by kriptonik made on 2018-10-17 11:06 for Sola

HUN

Ez egy igazi nagyágyú. Kódolási, programozási ismeretek nélkül, tulajdonképpen egy űrlapon bepipálva a kívánt extrákat, létrehozhatod a saját dapp-odat, okosszerződésedet, amelyet azonnal el is helyezhetsz az ethereum blokkláncon.

Ez nagyjából azt jelenti, hogy a jövőben egy-egy app létrehozásához elég lesz az ötlet, nem kell programozási képzettség. Ha belegondolsz, ötletgazdából sokkal több van, mint programozóból, így használható, értelmes appból is több lesz, mint manapság. Értelmetlenből is, nyilván, de hát mindenki ki tudja válogatni magának, ami tetszik és beválik neki. Ki tudja, talán pont te csinálod meg, azt, amelyik az áttörést jelenti a tömeges elterjedéshez 🙂

Crypto-stuff detected #1 ENG/HUN

Hello dear reader!

I start a series of articles, about crypto-related stuffs, what i find on Steemhunt, on a producthunt platform, where i’m a member, and i can dig cool stuffs. If i’m a boring person, i write to “my top5 hunt today”, or something like this. But isn’t top5, it is the topCRYPTO :)This article is more teaser, less review, and this is a pilot-article, so i may need some upgrade at time 😉

HUN

Új cikksorozatot indítok, a Steemhunt oldalon talált kriptopénz-témához kapcsolódó dolgokról. Projektek, appok, webszolgáltatások, minden, ami a kriptóhoz kapcsolódik. Nem napi top5-ként, hanem topKRIPTÓként 🙂

1:

Etherquest by TheManualBot

A blockchain-based game, where you can play and earn money. Sounds cool 🙂 And it is a battle arena, so pretty sure, you will not be kitties to meet 😉

HUN

Blokklánc alapú böngészős (?) rpg(?), ahol a játékkal tokeneket, azaz pénzt kereshetsz. Mivel az online játékipar ténylegesen ipar, és ehhez mérhető a benne forgó pénz mennyisége is, szerintem érdemes próbát tenni vele, ha szeretsz játszani.

2:

Viberate by Edje

Quote: “Viberate provides a comprehensive and curated database of Events, Artists, Venues, Promoters and Agencies. Kinda the LinkedIn++ of the music industry. VIB tokens can be earned by contributions: adding artists, venues and events.”

Hm, are you a partyface or partyface? ?

HUN

Egy átfogó adatbázis különböző zenei rendezvényekről, zenészekről, helyszínekről, promóciókról és zenei ügynökségekről. Tulajdonképpen egy muzsikus-linkedin ? A platformon való aktivitásért VIB tokent kapsz. Ez az aktivitás konkrétan adatfeltöltést is jelent az adatbázisba, tehát ha felteszel egy bulihelyszínt, azzal pénzt kereshetsz. Ez elég jól hangzik.

3:

CryptoGamersCommunity by Barineka

Hm, since the Cryptokitties has started, we know, the gaming industry is HUGE. There is no different in case of blockchain-games neither. And who know, which game will be the next big deal? Maybe you make a warrior in a simple rpg, and then 2-3 years later, you can sell it for thousands of bucks ?

This community seems good starting point, if you want to learn more about the crypto-games.

HUN

A Cryptokitties játék óta tudjuk, hogy nagy pénzek mozognak a gémer-iparban, és ez alól a blokklánc-alapú játékok sem kivételek. Talán pont múlt havi hír, hogy közel 70 MILLIÓ forintért kelt el az egyik macska a játékon belül. Nem rossz pénz egy kis tamagocsizásért, azt gondolom.

Ilyenkor ott motoszkál a gondolat az emberben, hogy vajon melyik játék lesz a következő nagy durranás? Van sok fizetős, van több ingyenes, és van olyan is, amelyikben tokeneket kereshetsz játék közben. Ezekről jön egy külön gyűjtemény is a közeljövőben ? Ha komolyabban el szeretnél merülni ebben a világban, ez a közösségi oldal jó kiindulópont lehet. Aztán ha három év múlva eladod az egyik nevelgetett karaktered többtízmillióért, csak írj nekem, megmondom, hol tudsz meghívni egy sörre ?

 

CreatePosts

Top 4 Reasons You Should Participate In The Stish Token Event!

The Top 4 Reasons You Should Participate

Stishit In A Nutshell: We add a layer of incentives and a supporting ecosystem to accelerate growth in nascent content creators, who are motivated using gamification and awarded monetary value provided via secondary market token economics. Stishit is a distribution vehicle for the Stish cryptocurrency! 

Stish Token Event

  • Stish is not a concept ICO with zero development and no roadmaps or game plan. Stish has developed almost all of its core platform and creatively brought different pieces of software together to create an awesome platform that will help solidify long term support of the new currency Stish. Unlike most ICOs you might have participated that generally failed to meet deadlines and failed to accomplish half of what they promised, Stish has already made huge strides.  You can test drive where we are and easily see where we are going and understand how we will be successful with a quicker time to solid exchanges. You will not have to wait 2 or 3 years before we develop the concept.

 

  • Stish is ready to take the platform to the next level. Stishit and Stish are poised to be one of the highlights of 2018 and 2019. With major competitive advantages to similar projects. The Stish project has already seen some serious adoption and is looking forward to completing a few larger investment projects to wrap up the major development that will solidify Stishit and Stish as the go to crypto of choice. The core Stish platform is very close to completion with test driving of social wallets and community interactive features going on now. The one thing that is missing is Stish having the same functionality as BTC, ETH, LTC, ETC and BCH on the Stishit Platform and across thousands of other platforms.

Stishit looks to really break down barriers of entry into crypto.

  • We may have an unknown team of founders and early adopters and developers even but we do not have an unknown goal or trajectory. For the last year we have developed and tested many things revolving around cryptocurrency and have discovered a solid plan for success. The project is solid and secure just waiting to ratchet up the final legs of major development and put Stish crypto on the map. With clear goals and a solid track record of proving concepts we believe there is no better opportunity in 2018/2019 than Stish crypto. Once the initial platform is complete we look to build our own blockchain technology to power the community verses relying solely on Ethereum.

 

  • Stish is possibly the least talked about soon to be success story and you are arriving at the perfect time to take advantage of the path of the Stish journey. With Stish You Can Monetize Content From Multiple Platforms such as Medium, Steemit, Minds, Youtube, Facebook, Twitter, Digg And Other Popular Social Networking Sites. Simply sharing your content in the social portal can earn you Stish!

More Details About Stish….

Stish is developing the easiest user friendly cryptocurrency based social networking platform ever. Stishit.net is one social community built around Stish which rewards members for community participation. When people exert effort they find more value in what they receive for that effort. We believe there will be people from around the world that value their time and energy differently and this will allow for awesome trading opportunities.

Users can deposit multiple currencies and interact with each other in this epic micro social crypto economy. Stishit receives micro nominal fees for outgoing transactions which will cover operational costs and fund future developments. We need your help specifically to take Stish to the next level and wrap up the final strategic alliances to allow for even simpler and easier integration into our existing platform.

It will open up the api possibilities so that we and others can integrate Stish into various future projects such as the marketplace Stish List and future digital stores for selling music, photos, movies, books and more. We will be able to use Stish in game development and other community driven projects with a minimum of 100,000 USD participation goal. See The White Paper Here.

For Those Who Want An Old Timey Shopping Experience Buy Here! With Fiat Currency.

For Friends Of Stish and Stishit Who Are Helping Get The Word Out We Greatly Appreciate Your Efforts. Please Be Sure You Use Your Special Link So That You Get Credit For Referring People To The Token Event.

Connect to Stishit with MetaMask or Saturn Wallet Extension To Get Your Referral Link.

We plan to give 5% of all ETH collected via the token sale to those that helped us raise the funds! Thank you.

 

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