You made it! :) First up, SORRY! This has been a late post, I have my reasons don't question them (if you must know I'll be posting in the discord - one time only haha). Secondly, I am sure you can agree with me when I say "Wow!" What an incredible week it has been. Last week I thought it was going to take a couple more weeks for more moving price action when it had only taken a few days which has seen Bitcoin reach and pass the $10,000 region. We have also seen the total Market cap for cryptocurrencies increase from about 280B to over 300B (308B at time of writing) within just a few days. A huge injection of liquidity, about 40B, into the market and just to name a few of the best rises in the top 20 (on Coinmarketcap.com), the price of ETH BTC ADA have given good performances/positive responses (With this I will start adding screenshots at the end of each week for timestamp purposes). This may be a combination from Binance, Mastercard, Paypal, Grayscale investments, VISA AND the DEFI sector. Let me explain... Last week we read about Binance integrating with the company Swipe (SXP) to issue there own debit card expanding the use and reach of cryptocurrency to 31 countries within Europe. Binance's Q2 scheduled token burn of $60.5 Million, this figure correlates with its exchange, margin and futures trading platforms where approximately 20% of profits get burned to increase the price of BNB token (careful as the price has been steady after the burn). This week we find out Mastercard's expansion into the Cryptosphere as they expand and integrate with the Wirex team to issue a Mastercard-backed Bitcoin debit card, thus further extending the reach of cryptocurrency availability internationally. "The cryptocurrency market continues to mature and Mastercard is driving it forward, creating safe and secure experiences for consumers and businesses in today’s digital economy " "...Our work with Wirex and the wider crypto ecosystem is accelerating innovation and empowering consumers with more choice in the way they pay" Mastercard is also reaching out to other emerging cryptocurrency firms to apply to become principal members [Partners] with Mastercard as they have relaxed their digital assets program and look to expand into the Digital Assets and Blockchain environment. Paypals expression of interest in cryptocurrency facilitiation may bear fruits as it is said Paypal has partnered up with stablecoin operator Paxos (who is already in partnership with Revolut in the US) to facilitate trading through a cryptocurrency brokerage which will enable other firms to integrate cryptocurrency trading functionalities with them. In my opinion this looks much more promising than the Libra association they pulled out from last October as regulations. Grayscale Investments clears regulatory hurdle as they have been given the green light for its Bitcoin Cash Trust (BCHG) and Litecoin Trust (LTCN) to be quoted in over-the-counter (OTC) markets by US Financial Industry Regulatory Authority (FINRA). “The Trusts are open-ended trusts sponsored by Grayscale and are intended to enable exposure to the price movement of the Trusts’ underlying assets through a traditional investment vehicle, avoiding the challenges of buying, storing, and safekeeping digital Bitcoin Cash or Litecoin directly.” More green lights for Cryptocurrency in the US as regulators allow banks to provide cryptocurrency custody services (which may go further than just custody services). A little bit strange as it seems unnecessary and undermines one of the key factors and uses of cryptocurrency which is to be in complete control of your own finances... On another outlook this may be bullish as it allows US banks to provide banking services directly to lawful cryptocurrency businesses and show support for Bitcoin. Visa shows support stating they have a roadmap for their further expansion into the Crypto sphere. Already working with Crypto platform Coinbase and Fold they have stated they recognise the role of digital assets in the future of money. To be frank, it appears to be focused on stable coins, cost effectiveness and transaction speeds. However they are expanding their support for crypto assets. AND MOST IMPORTANTLY, DeFI! Our very own growing section in crypto. Just like the 2017 ICO boom we are seeing exorbitant growth and FOMO into the Decentralised Finance sector (WBTC, Stablecoins, Yield farming, DEXs etc). The amount of active addresses on Ethereum has doubled but with the FOMO on their network have sky rocketed their fees! Large use-cases of stable coins such as USDT ($6B in circulation using ERC-20 standard), DAI, TUSD, and PAX. $114M Wrapped Bitcoin (WBTC) on their network acts as a fluid side chain for Bitcoin and DEX trade volume has touched $1.6B this month. With all this action happening on Ethereum I saw the 24HR volume surpass BTC briefly on Worldcoinindex.com In other news, Bitcoin has been set as a new precedent in a US federal court in a case against Larry Dean Harmon, the operator of an underground trading platform Helix. Bitcoin has now legally been ruled as a form of money. “After examination of the relevant statutes, case law, and other sources, the Court concludes that bitcoin is money under the MTA and that Helix, as described in the indictment, was an `unlicensed money transmitting business´ under applicable federal law.” Quick news in China/Asia as floods threaten miners and the most dominant ASIC Bitcoin mining rig manufacturer Bitmain loses 10,000 Antminers worth millions alledgedly goes missing or "illegally transfered" with ongoing leadership dispute between cofounders. Last but not least, Cardano (ADA) upgrade Shelley is ready to launch! Hardfork is initiated as final countdown clock is switched on. At time of writing the point of no return has been reached, stress tests done and confirmation Hardfork is coming 29/07 The Shelley Mainnet upgrade is a step toward fast, capable and decentralised crypto that can serve billions of people. With the Shelley Mainnet is ADA staking rewards and pools! Here is a chance for us Gravychainers to set up a small pool of our own. Small percentage of profits going into the development of the community, and you keep the rest! If you read all of my ramblings thanks heaps! I appreciate it! I have added an extra piece of reading called speculation. Most you can speculate on by just reading the headline some others have more depth to them. Another post next week for a weekly round up! Where do you think the market is going? What is in your portfolio? Let us know in the Gravychain Discord Channel See you soon!
🍕 Bring some virtual pizza to share 🍕 Come have a chat, stimulate a discussion, ask a question or share some knowledge. We are all friendly crypto enthusiasts up for a chat, supportive and want to help each other with knowledge and investments! Big thanks to our Telegram and My Crypto HQ for the constant news updates!
P.S. Dr Seuss collectables on the blockchain HECK YEAH! and Bitcoin enters NASCAR, remember when Doge did this? it was like when Doge was trending on TikTok. ... Oh yeah did I also mention Steve Wozniak is suing Youtube, Google over rampant Bitcoin scams. Wait, what? Sydney based law firm JPB Liberty is suing Google, Facebook and Twitter for up to $300B. Just another day in the Cryptosphere.
White Paper, Miner, Pizza … | "Old Objects" in the Cryptocurrency Museum
https://preview.redd.it/giu1ssilga151.jpg?width=900&format=pjpg&auto=webp&s=41510785ccdc0d99544ec74229f62427d1c0ce3e Museum has played the role of a time recorder. Talking about bitcoin, more than ten years has passed since the creation of it. Although it is uncomparable to the stock market with a hundred years of history, during the ten years, in the different stages of the development of bitcoin and blockchain have continuously poured in geeks, miners, speculators, newbies, leaving keywords such as sudden rich, myth, scam, belief, revolution, etc. There are also many “old objects” with stories in the “Museum” of the cryptocurrency realm. On Museum Day, let ’s review the stories brought by these “old objects”. The First Digital Currency White Paper — Bitcoin White Paper On Oct. 31, 2008, Satoshi Nakamoto released the Bitcoin white paper — A Peer-to-Peer Electronic Cash System in the cryptographic mail group where he belongs, and Bitcoin was born since then. A white paper is a document that explains the purpose and technology used in cryptocurrency. Usually a cryptocurrency uses the white paper to help people understand what it provides, and it is also an important information channel for investors to understand a project. Therefore, the level of the white paper affects people’s confidence towards the coin. In a word, in the cryptocurrency and blockchain industry, the value of a white paper is equivalent to that of a standard financing speech. The white paper plays a vital role in this emerging market. The First Public Bitcoin-Physical Transaction — Pizza Since Satoshi Nakamoto mined the Bitcoin genesis block on January 3, 2009, Bitcoin has only been spread among the small crowd and has not realized its value. Not until May 22, 2010, Bitcoin enthusiast “Laszlo Hanyecz” bought a pizza coupon worth $25 with 10,000 bitcoins. This is the first public bitcoin-physical transaction. Bitcoin has its price with 0.3 cents per bitcoin. This day has also become the famous “Bitcoin Pizza Day” in Bitcoin history. Bitcoin as the imagination of the financial system has more practical significance. The tenth anniversary is coming. How will you commemorate it? Will you buy a pizza? The First Digital Asset Exchange — Bitcoinmarket.com After the birth of Bitcoin, in addition to mining, the only way to get Bitcoin in the early days was to conduct transactions on forums or IRC (commonly known as Internet Relay Chat). However, this method involves both long transaction time and great security risk. In March 2010, the first digital asset exchange — Bitcoinmarket.com launched. However, due to lack of liquidity and transaction depth, it disappeared soon after its establishment, but Bitcoinmarket.com opened the era of the operation of the cryptocurrency realm exchange 1.0. On June 9, 2011, China’s first Bitcoin exchange — Bitcoin China (BTCChina) launched. Its founder, Yang Linke, translated Bitcoin into Chinese “比特币” for the first time. In 2013, China’s bitcoin trading entered the golden age, and exchanges sprung up. China monopolized more than 90% of the world’s bitcoin transactions. Now, if the top three exchanges Binance, Huobi Global, OKEx are the Exchange 2.0, then the index exchange represented by 58COIN called the 3.0 version, leading the trend. The First Generation of High-Performance Miner — ASIC Miner When Satoshi Nakamoto created Bitcoin, the only way to get it is to use computers (including home computers) to mine, mainly relying on the CPU to calculate. However, as the value of digital currencies such as Bitcoin has become higher and higher, mining has become an industry with the competition is getting fiercer, accompanied by increasing difficulty of mining. Therefore, hardware performance competition starts. In July 2012, the genius Jiang Xinyu (Internet nickname is “Friedcat”) from the junior class of the University of Science and Technology declared at the forum that he could make ASIC miners (chips). As far as mining computing power is concerned, ASICs can be tens of thousands or more higher than the same-generation CPUs and GPUs. At the beginning of 2013, Zhang Nanqian (Pumpkin Zhang), a suspended doctoral student from the Beijing University of Aeronautics and Astronautics, developed the ASIC miner and named it “Avalon”. In June 2013, the Friedcat’s miner USB was finally released, and it maintained 20% of the computing power of the entire network. At the end of 2013, Wu Jihan, used the tens of millions yuan earned from Friedcat through investment, worked together with Jenke group, to develop the Antminer S1. Since then, the miner manufacturer Bitmain began to enter the stage of history. It is no exaggeration to say that Friedcat and Zhang Nangeng have opened the domestic “mining” era. The Birthplace of China’s Bitcoin — Garage Coffee It is not only the “old objects” that record history, but also a place that everyone in the cryptocurrency realm aspires to. Guo Hongcai once said, “Without no The Garage Café, there will be no cryptocurrency realm today. Since it is a very mysterious place that all waves of people from the café joint together to create today’s digital asset industry. ▲ In March 2013, American student Jake Smith successfully purchased a cup of coffee at The Garage Café with 0.131 bitcoins. This move attracted the attention of CCTV, and it conducted an interview. Indeed, The Garage Café is the world ’s first entrepreneurial-themed coffee shop. It has been legendary since its establishment in 2011. The Garage Cafét is not only the core coordinate on China’s Bitcoin map, but also the birthplace of the Chinese cryptocurrency circle, where digital asset realm tycoons including Guo Hongcai, Zhao Dong, Li Xiaolai, Li Lin have made their ways. The development of digital currency is only 11 years old. Through these “old objects”, we review the various stories of this wave of technology together, hoping to help you understand the development process of the digital currency field. Meanwhile, I also remind all practitioners to use history as a mirror and forge ahead. Website: https://www.58ex.com/ Twitter: https://twitter.com/58_coin Facebook: https://www.facebook.com/coin.58COIN Telegram: https://t.me/official58 Medium: https://medium.com/@58coin_blog/
Everyone has their platform. I was curious. I am coming from GDAX, primarily focused on Bitcoin/ETH/LTC trading. I am in need of 2.48353472 Bitcoin Cash, so im trying to figure out where to go. Which places have the least fees and most reliable transactions primarily. I am hoping there is a platform I can use to get this done (or a secure hook up from a fellow redditor) If anyone is able to hook me up with a trade, I can trade either LTC/BC/ETH
•CEO of Square Jack Dorsey announces its intention to hire 3-4 engineers and 1 designer to work on open source contributions to the Bitcoin/cryptocurrency ecosystem. New hires will not be focused on Square’s commercial interests, but rather what’s best for the crypto community.
•Western Union partners with Stellar based start-up Thunes to enable clients to transfer funds directly to any mobile wallet globally.
CRYPTOCURRENCY TRADING SERVICES
•Coinbase Pro removes support for stop orders and adjusts its trading fees schedule. Those who trade under $100,000 will see a fee increase of 33%. Other transactional thresholds will see no changes or otherwise a reduction of 13-50%. •Coinbase lists Stellar Lumens (XLM) on its web and native mobile applications (iOS, Android) on March 18th, 2019. •Binance launches a new fiat-to-crypto gateway in Australia, dubbed “Binance Lite”. The new platform allows for Bitcoin purchase in any of the 1300 newsagent stores for a 5% fee. •Huobi announces Huobi Prime, a platform allowing traders to speculate on tokens before they list on exchanges in what’s called an IEO (Initial Exchange Offering). •Cryptopia resumes trading with 40 pairs as of March 18th, 2019. Those who have lost funds as a result of the hack in January will be deposited a Cryptopia Loss Marker (CLM) to keep track of lost coins in New Zealand Dollars. •Huobi Global and OkEx announce support for upcoming Tron-based Tether (USDT). • A report from trading analytics firm The Tie suggests an estimated 87% of cryptocurrency trading volume may be artificially manufactured. This was determined by cross-referencing platform visitor analytics and reported volume by the exchanges.
•Senior advisor at the U.S Securities and Exchange Commission (SEC) Valerie Szczepanik stated that algorithmic stablecoins – tokens that maintain its stability through financial mechanisms may be “getting into the land of securities”. •The Japanese Cabinet, an executive agency of the Japanese government approves a law that bans margin trading that exceeds 4x from the initial position. Margin-enabled exchanges must now also register no later then 18 months from the effective date the law goes into effect.
•Major mining hardware manufacture Bitmain releases Antminer Z11 on March 19th, 2019. The new miner will be 60% more efficient on electricity and tout a 3x increase in hashing power to mine cryptocurrencies that is based on the Equihash algorithm (ZCash).
•Kakao, an internet conglomerate in South Korea with an estimated 44M users is looking to integrate a cryptocurrency wallet into its flagship messaging app – KakaoTalk. •Worlds largest manufacture of cryptocurrency mining equipment Bitmain, looks to deploy 200,000 miners in China’s southwestern provinces to take advantage of cheap hydroelectric power.
•Major South Korean cryptocurrency exchange Bithumb to reduce staffing by 50%. This will effectively reduce the head count of the team from 310 to 150. •Jared Rice Sr, founder of $4.2 million USD crypto bank scam AriseBank pleads guilty to 1 of 3 outstanding charges. Plea will sentence Jared to 60 months in prison with a maximum sentence of 20 years and $5 million USD fine. •Former BTC-e operator Alexander Vinnik currently accused for money laundering to the tune of $4 billion USD appeals for extradition to Russia for humanitarian reasons.
•@jack – #BitcoinTwitter and #CryptoTwitter! Square is hiring 3-4 crypto engineers and 1 designer to work full-time on open source contributions to the bitcoin/crypto ecosystem. Work from anywhere, report directly to me, and we can even pay you in bitcoin! Introducing @sqcrypto. •@iamdevloper – If anyone wants a better understanding of Blockchain, I can thoroughly recommend the Fyre Festival documentary on Netflix. •@danheld – Dollar: In God we trust. Bitcoin: In math we trust.
I don't even think this is tinfoil hat stuff... lets go over the exact timeline.
Obelisk decides to enter the mining space and compete with Bitmain.
After seeing that there was some demand from American buyers, Bitmain decides they want to do as much damage to Obelisk as possible. Chinese companies know that they must out compete any threats in general, so this is actually quite a reasonable/standard response.
Bitmain pumps the price of Siacoin from $.005 all the way up to $.1. Probably by spending let's just say 20 million, as a few well placed market buys can keep pumping hype going. Which is by the way peanuts to these guys.
When the price and ROI is at its peak (market headwinds affected the $.1 price) Bitmain announces A3 and sell as many miners as possible. One they have recouped all of their pump money and more and more importantly they have screwed over Obelisk.
Now that Obelisk is effectively dead (because it is), Bitmain also gets the added bonus of having control over the Sia network. They don't have any reason to damage it as the Sia network running smoothly means they can sell more Antminers! Oh and without question they have a chipset that will be quickly ready to blow the SC1s out the water when the time comes.
Obelisk being also the devs of SiaCoin could have been combative towards Bitmain. Kinda like how the Bitcoin core community rejected the calls to raise the blocksize? Well guess what instead happened!! The Siacoin team decided that they wanted to make sure their SiaFunds keep producing money and said lets allow all of this to happen without any response. Bitmain probably was like OH ok! So what next?
Bitmain now announced a NEW BATCH of SC1s with discounts for Obelisk buyers, why? Because now they can recruit folks that actively dislike Obelisk to be on their side and depending on who the largest buyers are expect Bitmain to be quite cozy with them. Again just in case Obelisk tries to punch back they now have their network by the balls and malicious players in place. Just in case though because as of this moment the competitor has announced it wont do anything to them if they keep it as is (dead Obelisk and owning the network)****
Proof of the discounts by the way: https://twitter.com/BITMAINtech/status/957620387558260736 So what are the next steps? Bitmain will do all it can to ensure Obelisks do not ROI. Killing the company off for good. Expect Siacoin to be sold to shit AFTER their next batch profits (or the moment SC1 releases). Oh and how can they do this most effectively? By getting listed on Binance the largest exchange in China. I wonder who is calling for these listings?? The new A3 miners, why? Because this entire drama is making SC holders itchy to offload. So the community is now going to get listed on Binance so a wave community members (let's assume 15k new people) can sell... This is how its done ladies and gentlemen, this is shrewd and clever business practices at play put in place by folks that can execute. One set of folks had trouble delivering t shirts... the other has achieved a non-hostile hostile takeover of an entire network. Bitmain is using game theory and peoples incentives to achieve its goals, it didn't have to try anything shady rather it uses understanding of humans rational thought + their greed to get what it wants. Honestly I'm impressed at how well executed this was. BONUS: This is where I will put the tinfoil hat on. If Bitmain was able to implement some hidden features in its miners that would really put the icing on this. ****EDIT: What is even better is that by having Obelisk buyers purchase A3s the chances for a fork are lowered as there will be no-one calling for a fork. Thanks for pointing that out to me in the comments.
What they really don't wan't you to know about Dash!
Dash is breaking away with regards to integrations, partnerships and developments that advocates of other Crypto Currencies have become frightened of Dash's future dominance. Unfortunately for most of these other Crypto Currency projects Dash as a platform is well and truly in the driving seat on so many levels. Lets take a look at some of the achievements in 2017 and upcoming events:
A couple weeks back I decided to look into investment opportunities on coins still using the original cryptonight algo. The thought being, all those X3s are mining something other than monero - so what? My criteria were, cryptonight algo and traded on polo. The list was short, exactly one coin - Bytecoin. The diff had risen 8x over the past month and the price had not risen proportionally, this made the decision easy. Bought a not- insignificant quantity of them around 60 sats and expected to hold for a while until the expected price increase to move more inline with the diff. Today, you probably heard what happened on binance with a 32x rise in price. This was "made possible" by no blocks being mined for at least two hours. This jogged my memory on something that happened a couple years back that I'd forgotten all about. This also caused me to reasses my stance on the Z3 and whether it is good or bad for ZCash. Leading up to the latest bitcoin halving , I was researching SHA256 coins to speculate on. At the time, I figured a lot of the SHA ASICs would move off of bitcoin and into alts after the halving took place. At the time I was trading on both polo and trex, so I wanted coins on both platforms. There were about three coins I settled on as I remember - DGB, Myriad, and CURE. Bought some of each on both exchanges. A similar scenario unfolded with CURE as happened with BCN today There was a massive, MASSIVE, pump of CURE on Polo but price was mostly unchanged on trex. Sold my CURE on polo and initiated a transfer from trex to polo to sell the remainder. After some time, there were zero confirmations showing on trex. WTF? Searched out a block explorer for CURE and low and behold the chain was not moving. After some time, the pump was over and the chain began moving again. There was certainly a nefarious actor on the mining side that had stalled the chain. I'm no expert on the technicals of how, but winning shares were being withheld by someone with a significant portion of that network's hashrate. Maybe someone else can chime in with the details on how this type of attack is perpetrated. Incidentally, CURE was delisted from polo a very short time later. Whether this was due to polo calling BS, or being complicit and tipping off somebody prior to the delisting announcement to get one last hoorah, the world will never know. I also remember some talk around that time of excessive orphans happening on slushpool. It apparently ended up being an unintentional issue wherein one of the larger farms pointed at slush was withholding winning shares. This sounded very similar to what happened with CURE, but with so much more hashrate on the BTC network, others were finding winning shares to keep the chain moving. So, how is this relevant to ZEC? I believe the BCN attack was made possible by, and initiated with, Antminer X3s. Somebody has a lot of them and pulled this off. I believe the CURE attack was perpetrated by a major holder of SHA256 ASICs. The CURE nethash was a drop in the bucket compared to bitcoin so it was probably a simple matter of pulling off BTC for a couple hours, attacking CURE, then returning to BTC (or whatever else they were moving at the time). Not going to speculate on who waged these attacks, it's irrelevant. The important, common, factor is ASIC miners. I fear that the ZEC network will be vulnerable to this type of attack should action not be taken to resist ASICs. All it would take is two hours to completely trash it's reputation and the effort invested in getting it to where it is today. Before you call me a GPU shill or ASIC fudder, consider that these things have actually happened and do your own research to refute the points being made. In either case, thank you for taking the time to read what I've written and I look forward to your feedback.
Have you heard anything about Alibaba, Jack Ma, Tim Draper, Ripple, JP Morgan? .. Why am I asking this? Recently I discovered an interesting blockchain project from China. Since I have just returned from China, where I promoted innovative technologies, I was amazed by the scale of the changes taking place in the country and now my focus is primarily on this market. So, the project is called Tron (www.tronlab.com) and it has an ambitious goal that can not be described in two words. I'll try to list: 1) to replace game currencies with the project's crypto currency - Tronix (TRX). Unlike gaming currencies, this currency will be "real", it has real market value. What is the advantage? According to the idea, all projects connected to the Tron ecosystem will use the common currency Tronix or tokens based on the Tron protocol, which can be freely exchanged for Tronix (TRX). This will allow you to freely move assets between different games and applications. Imagine, you played in Call of Duty, bought there weapons, then some amount left. Later you decide to play Fifa 201x. Move the existing TRX from Call of Duty to Fifa and buy Messi ;) Then go to the social network and buy a virtual gift to someone for the same TRX, open the online cinema and pay for the movie... And all this quickly, safely, conveniently. 2) integrate the TRX crypto currency into the online entertainment industry, which includes not only games, but also social networks, dating sites, etc. This will allow you to enter the premium group, vote for your favorite entries, present virtual gifts. And these are not just plans, but a working model. The first application, which integrates the TRX crypto currency, is Peiwo with an audience of 10 million users. For comparison, according to the evaluation of experts there are about 20 million Bitcoin owners in the world. 3) use its own mainnet blockchain and protocol for the online entertainment industry. At the moment, the TRX crypto currency is a token on the ERC20 protocol. What will it give? Companies will be able to conduct ICO on the basis of the Tron platform and protocol, which will lead to an increase in the value of TRX's internal crypto currency. One of the main disadvantages of Ethereum is the lack of a hard cap, that is why the system requires constant external funding to maintain the value of the ETH crypto currency. At the same time, the TRX has the same advantages as the ETH but has a hard cap of 100 000 000 000 TRX, with a circulation supply of 65 000 000 000. Many investors in crypto-currencies are concerned about such high circulation supply, but this has its advantages. First, the online games market alone exceeds 100 billion dollars. And this is only a small part of the online entertainment market. For example, in China I was surprised to see how pretty Chinese woman earned more than $ 50 in the form of tips just for eating her dinner on the air in the video-streaming app... And gamers who demonstrate in real time how to play DOTa earn several thousand dollars per month. Thus, such a circulation supply even with the current development of online entertainment will quickly disperse and there will soon be an increased demand for TRX, which will lead to a steady increase in the price of TRX. For example, at the time of writing, TRX costs about $ 0.0024 (0.0000082ETH). If each user of the Peiwo application purchases 6500 TRX (which is only $ 15.6), then there will already be a deficit of tokens. But most importantly, among investors there are such people as Binshen Tang, the owner of the game Clash of Kings with an audience of 40 000 000 people. Secondly, there are rumors that the Chinese authorities are considering the prohibition of buying and selling the fractions of cryptocurrencies, so you can not buy 0.5 BTC, but only 1, 2 ... BTC to limit the circulation of crypto-currencies. Such circulation supply of TRX will allow free trade on exchanges with these restrictions. In addition, it will allow you to carry out micropayments, such as watching a few minutes of a movie and pay some cents in TRX. 4) create a decentralized data warehouse based on p2p technologies. This means that the content will be the property of authors, not for example of such services as Facebook, Youtube or Google. In other words, users will pay to the authors directly. To date, the authors receive small earnings from the sale of advertising by these services. In addition, it will ensure the constant availability, permanence and reliability of the information, as it will be stored in the blockchain. My experience of work with innovative technologies showed that the most important thing in the success of the project is his team. And with this, Tron is all right. CEO of Tron Foundation is Justin Sun, the former representative of Bitcoin settlement platform Ripple in China. Ripple is now the third cryptocurrency by market cap after Bitcoin and Ethereum. It is used for transactions between banks, like SWIFT. He was awarded by the next titles:
2015 Forbes China, 30 under 30
2017 Forbes Asia, 30 under 30
Davos Global Shaper in 2014
He founded Peiwo, an app aspiring to become China's Snapchat. Justin Sun was the student of Jack Ma (Alibaba) at Hupan University. Now he is in the Tim Draper’s University. Recently to a team of more than 60 people, including experts in p2p and blockchain technologies, joined the senior expert Lucien Chen from Alibaba and Tencent (Wechat app). So, what about investors? Among them are:
Binshen Tang, the owner of the game Clash of Kings with an audience of 40 million people
Jihan Wu, CEO of Bitmain. Everyone who is familiar with Bitcoin mining knows well this name. Bitmain is the manufacturer of ASICs Antminers and one of the most powerful Bitcoin miner company in the world.
Weixing Chen, the founder of Kuaidi (Chinese Uber)
Linke Yang, founder of BTC China
Separately, it should be noted that Justin Sun is a protégé of Jack Ma and teaches a course about blockchain technology at his university. In addition, Jack Ma in his recent interview noted that in the future the society should be healthy and happy. Entertainment brings happiness, so it will be part of Alibaba's business. There are also rumors that Tim Draper invested in Tron. Tim Draper was one of the first to invest in Tesla, Skype, Baidu (Chinese Google). Lately Justin Sun tweeted that Fund that supported Ripple and some Hedge Funds invested in Tron Foundation. And some background information. ICO from Tron passed in several stages from the second half of August to the beginning of September. The price of 1 TRX during the ICO period was 0.00000488 ETH. A few interesting facts about the ICO Tron. The stage that was held at the Binance exchange was successfully completed in 39 seconds!!! This heated the interest of investors and at the next stage, which was conducted on another site, the desire of investors to get tokens as quickly as possible led to a system’s crash, such a powerful was "ddos attack". In total, according to preliminary estimates, during the ICO about $ 60 million was raised. Total supply of TRX is 100 000 000 000, circulation supply is 65 000 000 000. The number of decimals is 6. By coin market cap at present TRX is between the 30th and 40th place among all cryptocurrencies. At the time of writing, TRX traded on the exchanges HitBTC, Liqui, Qryptos, EtherDelta. Some more exchanges on the way, one of which is Korean and another is Australian coolcoin.com. To see TRX in Etherdelta you have to choose to Add custom token and fill the next data: Address: 0xf230b790E05390FC8295F4d3F60332c93Bed42e2 Token Symbol: TRX Decimals: 6 And the most pleasant thing is, until October 30, 2017, you can still buy TRX to get a free 10% airdrop after this date. Links: 1) twitter.com/justinsuntron 2) https://www.forbes.com/sites/rogeraitken/2017/08/12/could-this-millennial-crypto-tech-visionary-be-the-next-jack-ma/#77315aa87064
Cryptocurrencies are largely red as study finds 400% increase in demand for blockchain engineers
A long-awaited draft of the Russian bill concerning cryptocurrencies and blockchain regulation has been made public and it will reportedly let privately held businesses and legal entities ‘digitize’ their shares and store them on a blockchain ledger. The draft bill, “On Digital Financial Assets” was obtained by local news outlet, Vedomosti, and details the legalization of so-called, “digital financial outlets (DFA)” that would act as digitized equity for a company -- a DFA is essentially a cryptocurrency token, just under a different name. The new bill, if approved, would apply to limited liability companies as well as non-public stock companies.
A study conducted by Hired, called the 2018 State of Salaries Report, finds that the average salary of a blockchain engineer in 2018 has soared to between USD$150,000 and USD$175,000 per year -- this is notably higher than software engineers’ average salary of USD$135,000. While speaking to CNBC, Paul Mehul, CEO of Hired, said, “There’s a ton of demand for blockchain. Software engineers are in very short supply, but this is even more acute and that’s why salaries are even higher.” According to the Hired report, demand for blockchain engineers has risen 400% since a year ago despite the cryptocurrency bear market. A CNBC article also notes that demand for blockchain engineers have been further bolstered by tech giants like Facebook, Amazon, IBM, and Microsoft.
Bitmain, one of the world’s largest producers of cryptocurrency mining devices, has released a new software update for its Bitcoin mining device, Antminer s9, that activates a controversial code to mine Bitcoin more efficiently. The code in the update is controversial because it exploits a flaw in Bitcoin’s proof-of-work algorithm that allows Bitmain’s Antminer s9 to mine Bitcoin 20% more efficiently. The exploit also saves miners roughly 13% on energy costs.
Experts are beginning to weigh in on the potentially gargantuan impact that Fidelity Investments could have on cryptocurrency markets after the investment management firm announced the launch of a new arm, Fidelity Digital Asset Management. According to BKCM CEO, Brian Kelly, the new stamp of approval by Fidelity on cryptocurrency markets is enough to appeal to institutional investors, including hedge funds, pensions, and endowments. Yesterday, Changpeng Zhao, CEO of Binance, the world’s largest cryptocurrency exchange, said on Twitter, “What happens when a fund like Fidelity allocates a mere 5% of their portfolio to crypto? Have you calculated how much that is?”5% of Fidelity’s assets under management equals roughly USD$360 billion, which would nearly triple the current size of cryptocurrency markets.
Stephen Hammond, a UK Member of Parliament, has joined the advisory board of IronX, a retail-focused cryptocurrency exchange, to offer guidance on government relations. IronX is a joint-venture by IronFX, a digital trading firm, and EmurgoHK, the developers of the world’s ninth largest cryptocurrency by market capitalization, Cardano (ADA). The platform’s mission is to, “bring crypto trading to the mass retail trading market.” Hammond has served as a Member of Parliament since 2005 prior to a 20-year career in financial markets -- today, Hammond was quoted saying, “We are all on a steep learning curve to understand this new asset class.”
The Australian Securities and Investments Commission (ASIC) has halted an initial coin offering (ICO) being conducted by Global Tech Exchange (GTE) that was launched in the Summer of 2018. Global Tech Exchange had a fundraising goal of USD$50 million to create an education-based trading and exchange platform. The ICO by Global Tech Exchange gained popularity after being endorsed by Michael Clarke, a former Australian cricket captain. On Global Tech Exchange’s website, however, a statement reads that Michael Clarke, “is no longer associated with Global Tech Exchange and the Global Tech Exchange Blockchain and awareness program”. Earlier in the fall, the ASIC announced plans to increase scrutiny of cryptocurrency exchanges and to crackdown on ICOs taking place in the country.
Visa announced in a press release on Sunday that it is set to launch its blockchain-based identity system in partnership with IBM in the first quarter of 2019. Dubbed Visa B2B Connect, the platform will offer financial institutions a way to securely process cross-border payments while verifying users’ identities. Global Head of Visa’s Business Solutions, Kevin Phalen, said in regards to the system, “B2B Connect’s digital identity greatly reduces the opportunity for fraud that might otherwise exist with checks, ACH and wire transfers today, while also helping companies remain compliant as part of the regulated financial ecosystem.”
China News and South Korea News really shouldn't even be considered by the community anymore
They are always "on the verge" of completely banning Bitcoin and cryptocurrencies and exchanges yada yada... Well, shit or get off the pot. Crypto is blowing up with or without you. Your bipolar "bans" affect the markets for 25 minutes. I take a shit and coinmarketcap is already green again. Then your miners and exchanges relocate to another country where they make more money and no one cares about your ban. And how many times is CNBC and company going to report the same thing? The same Asian countries are skeptical about cryptos again? Wow. what a story. Make sure to tell them to sell me the antminers they can't use anymore. You know, the people that are too poor to relocate with their hardware. You know, the people who you are hurting most. We've got futures and mult-billion dollar companies getting involved - and having their stocks soar for getting involved. Binance and Coinbase can't even handle the volume. So leave. I was hoping for less mining competition and a few weeks of Bitcoin discount. I'm not going to sell my cryptos because of some broken record news cycle. sorry. rant over.
BTG is in top 10 in CoinMarket Cap! Here is why it should be in the top 5.
How I see the top 10 currencies on CoinMarketCap.com
1 Bitcoin is the number one cryptocurrency, with all the hype and all the press. I do not see any coin overtaking it in the near future. Probably never.
Bitcoin Gold IS better than bitcoin in MANY ways.
A) Bitcoin Gold allows for GPU mining on people’s home computers and it is ASIC resistant, which makes for a more decentralized coin. (One of the founding principles of bitcoin, which has fallen by the wayside with Chinese asic (such as BITMAIN) controlling most of the mining market and allowing it to pull all sorts of shenanigans. B) Bitcoin transactions have become slooooooooow! (Bitcoin GOLD is much faster) C) Bitcoin transactions are PRICEY! You can't even send someone $10 worth of bitcoin because the fees would eat the entire transaction. This is why STEAM dropped bitcoin. The fees have become ridiculously high (see miners controlling the market above as to reasons for this) Bitcoin Gold has lower fees. D) The network for bitcoin can be VERY unstable. Whenever Bitmain wants to move the miners over to it's own fraud coin, bitcoin cash, they slow the market and delay transactions. This should be seen for what it is: an ATTACK on bitcoin. With all that said, bitcoin still carries on and the price continues to climb! It remains #1 in marketcap.
2 in marketcap is Etherium. People love to remind you that Microsoft is backing Etherium. Yeah, but guess what. Etherium's network is an absolute mess!!
Hundreds of millions of coins have been lost because of a "bug". WOW. The 44billion dollar Ether network was brought to its knees by Crypto Kittie, a digital cat child’s app that uses Etherium contracts to trade digital pussies. Etherium shouldn't be number 2. Not until they can create a stable network. Who knows what will bring it down next? Digital dogs?
3 Bitcoin Cash. This currency is a fraud. It merely exists to allow Bitmain to use asic boost, to give it an advantage mining coins. Once Segwit went into place on bitcoin they could no longer use asic boost and lost their advantage so they forked bitcoin for greed. They tried to take a bunch of miners with them and force everyone who wants to buy an antminer to pay for them in Bitcoin Cash, driving up BCC and trying to take down BTC. This is a fraud currency and everyone should ignore it, and let it die on the side of the road like the diseased rodent it is.
4 Litecoin This is a great coin. It is more stable than every coin above it. The network is reliable and the transactions are fast. As if that were not enough, the fees are ridiculously low. So low that they have attracted STEAM, who just dropped bitcoin, to allow people to purchase on their store with Litecoin.
This should be the number 2 coin, in my opinion. (only because nothing is going to dethrone Bitcoin.)
5 Ripple If you have ever invested in ripple, and thought the price was going to go up and was surprised how it suddenly came crashing down, well you are not imagining things and you are not alone. The price on this coin is manipulated.
Don’t be me wrong, Ripple is a useful coin with good tech behind it. Fast transactions, good scalability and low fees, but this coin is used by banks to transfer fund between them. They do not want to the value to go up because that would make the fees larger. This “global “token is mainly traded on Korean exchanges. This coin was not designed to be a holder of value, so if you are looking to invest, I would stay away from Ripple. Anything over 25 cents is risking a sudden plunge. I’m amazed to see it at 36 cents.
6 IOTA - I love IOTA. What a great coin with a great team behind it. The network (Tangle) is very advanced and they love to brag about how they are an improvement over bitcoin. The people involved in IOTA tend to be very passionate and haters of blockchain.
The problem? Well, their wallets don’t even work! You can buy it on Binance, but you can’t even withdraw it because they have so many problems trying to get a wallet to be stable. For a coin that suddenly shot up to $5 (I rode a lot of that up and jumped out) on the news that they were working with Samsung, Microsoft and others on an information sharing network, I would think they could get their transaction network up and running so people can keep coins reliably in their wallets and get them off exchanges.
7 DASH One of a kind. The network funds itself. Unheard of. It’d decentralized with Masternodes that vote on how to spend the budget. (masternodes controlling the future don’t sound decentralized to me, but I digress) They claim instant transactions and privatesend (wasn’t this darksend?) This used to be XCoin in Jan 2014. 10 days later the core dev team changed the name to Darkcoin. Later they changed the name to DASH (not to be confused with Dashcoin, which is exactly what many people do… get confused.)
Some people would say there is a dark side to Dash coin, but to each their own.
8 NEM My first question is if the currency is called NEM, why is the symbol XEM??? NEM codes its own blockchain making it efficient and stable. If you hold 10,000 XEM, you can harvest(?) which incentivizes people to hold, which will inflate the price. (HODLING is the main reason bitcoin goes up in price. If everyone were day trading it can you imagine the volatility? When you limit the supply and there is still a high demand the price must go up. Simple as that.) NEM (or XEM) is not discussed very much and is not widely known. This is odd considering its high market cap (top 10 baby) and its solid tech. NEM (like bitcoin gold) needs some good marketing.
#9 Monero This is a PRIVATE COIN, untraceable currency. This coin has a purpose, and that purpose is protecting the privacy of the users of it. You can send and receive Monero without knowing who you sent or received coin from. This coin will increase in value as demand for privacy will only continue to increase and this is the world’s number one privacy coin (sorry dash). Some people may have ethical reasons to not want to invest in a coin that may be used for all manner of shady dealings online. That’s up to you to decide. Are you against fiat cash? For the most part cash is untraceable too, and people use it for all sorts of shady things, but people also use it for plenty of good things.
10 Bitcoin Gold Finally a version of bitcoin I can mine on my computer at home! YEAH!!! Bitcoin is SUPPOSED to be decentralized, and this is the ONLY flavor of bitcoin that lives up to that. It’s the same block interval and block size as bitcoin, but it updates difficulty on every block and prevents ASIC’s by using POW Equihash so people can mine on GPU’s at home.
As I mentioned above, Bitcoin Gold has faster transfers with lower fees and the network is not able to be manipulated by companies such as Bitmain, because large ASIC farms have no control over this network. Some mysterious forces (I wonder who?) attacked Bitcoin Gold when it first launched, with DDOS attacks and faking wallets. Despite the rough start, bitcoin gold has been widely accepted at 25 exchanges including Bittrex, HitBTC, Bitfinex, Binance and Yobit! It has even found a home in hardware wallets like Trezor and Ledger. You can use Coinomi on your phone too. http://amzn.to/2AeoyMI <----- Check Out Trezor Hardware Wallet! THE TOP 5 COINS FOR ME: 1) Bitcoin (obviously) 2) Litecoin 3) Etherium (Because of the hype) 4) Monero 5) Bitcoin Gold Honorable mentions: IOTA and NEM Find this post useful? Please donate BTG : ANYwhWdjfxQBokXR5dzDixvu8UB5PkqRfg This took a long time to type. :)
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A Bitcoin Miner for Mining Farms? Bitmain Antminer T17E ...
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