Bitcoin-Handelsvolumen in Venezuela erreicht neues Allzeithoch
Bitcoin-Handelsvolumen in Venezuela erreicht neues Allzeithoch
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Bitcoin in Venezuela FiFi Finance
BTC Google Trends by Region - Mostly 3rd and 1st World Countries
It makes perfect sense BTC is popular in such countries on the brink of disaster as Venezuela, African Countries or even Turkey and Argentina. It also figures that the most rich pals like Swiss and Dutch inhabitants, Germans and Austrians research and usually by extension stack Btc - not only they have money, but also foresight and decent education. For me what looks to be missing in this equation is more middle tiemedium income countries from Europe and Asia. What's your take on that? PS It's also worth bearing in mind that there is almost 100% correlation between google trends and btc price - looks like the trends starting to pick up with btc holding well above 11 K https://trends.google.com/trends/explore?q=bitcoin
I've heard that founder of MakerDAO is not strictly against KYC. I have a message to whole community and specifically to a founder of MakerDAO Rune Christensen. I will explain using concrete examples why having KYC in MakerDAO is a grave mistake and it will lead to MakerDAO fork. Many people in the first world never actually understand why financial privacy and financial inclusion is important. Even people (in the first world) who seemingly supportive of such ideas are not able to provide any concrete examples of why it's actually important. Unfortunately, I was born in a "wrong" country (Uzbekistan) and I experienced first hand what financial exclusion actually means. I know first hand that annoying feeling when you read polite, boilerplate rejection letter from financial institution based in first world. So I had to become practical libertarian. I'm going to give you concrete examples of financial discrimination against me. Then I'm going to explain fundamental reasons why it happens. And finally, I'm going to explain my vision for DAI. Back in 2005, I lived in Uzbekistan. I had an idea to invest in US stocks. I was very naive and I didn't know anything about investing, compliance, bank transfers, KYC etc. All I knew is nice long term charts of US stocks and what P/E means. I didn't contact any US brokerage but I checked information about account opening and how to transfer money there. I approached local bank in Uzbekistan and asked how to transfer money to Bank of New York. Banker's face was like - WOW, WTF?!?! They asked me to go to private room to talk with senior manager. Senior manager of local bank in Uzbekistan asked me why I wanted to transfer money to US. They told me that it's absolutely impossible to transfer money to US/EU and pretty much anywhere. I approached nearly every local bank in the town and they told me the same. In 2012, I already lived in Moscow and acquired Russian citizenship. I got back to my old idea - investing in US stocks. I called to many US brokerages and all of them politely rejected me. Usually when I called I asked them if I can open an account with them. They told me to hold on line. After long pause, I was able to speak with "senior" support who politely explain me that Russia in their list of restricted countries and they can't open an account for me. Finally, I was able to open an account with OptionsXpress. Next challenge was to convince local Russian bank to transfer money to US. Back then in 2012, I was able to get permission to do so. So you might say - is this happy end? Fast forwarding US brokerage story to 2017, OptionsXpress was acquired by Charles Schwab. I was notified that my OptionsXpress account will be migrated to Charles Schwab platform. In 2017, I already lived in the Netherlands (but still having Russian citizenship). I wasn't happy with my stupid job in the Netherlands. I called Charles Schwab and asked if I quit my job in the Netherlands and have to return to Russia, what will happen with my account. Schwab told me that they will restrict my account, so I can't do anything except closing my account. So even if I was long term customer of OptionsXpress, Charles Schwab is not fully okay with me. Going back to 2013, I still lived in Russia. I had another idea. What if I quit my job and build some SAAS platform (or whatever) and sell my stuff to US customers. So I need some website which accept US credit cards. I contacted my Russian bank (who previously allowed me to transfer money to OptionsXpress) about steps to make in order to accept US credit cards in Russia. I've been told explicitly in email that they won't allow me to accept US credit cards under any circumstances. Back then I still believed in "the free west". So I thought - no problem, I will just open bank account abroad and do all operations from my foreign account. I planned vacation in Hong Kong. And Hong Kong is freest economy in the world. Looks like it's right place to open bank account. I contacted HSBC Hong Kong via email. Their general support assured me that I can open bank account with them if I'm foreigner. I flew to Hong Kong for vacation and visited HSBC branch. Of course, they rejected me. But they recommended me to visit last floor in their HQ building, they told me that another HSBC branch specializes on opening bank accounts for foreigners. I went there and they said minimum amount to open bank account is 10 mil HKD (1.27 mil USD). Later I learned that it's called private banking. When I relocated to the Netherlands, I asked ABN Amro staff - what's happen with my bank account if I quit/lose my job in the Netherlands and have to return back to Russia. I've been told that I can't have my dutch bank account if I go back to Russia even if I already used their bank for 2+ years. I still had idea that I would like to quit my job and do something for myself. The problem is that I'm Russian citizen and I don't have any residency which is independent from my employment. So if I quit my job in the Netherlands, I have to return back to Russia. I wanted to see how I would get payments from US/EU customers. I found Stripe Atlas, it's so exciting, they help you to incorporate in US, and even help with banking, all process of receiving credit card payments is very smooth. But as usual in my case, there is a catch - Russia in their list of restricted countries. Speaking of centralized compliance-friendly (e.g. KYC) crypto exchanges. This year I live and work in Hong Kong. Earlier this year, I thought it would be nice to have an account at local crypto exchange in Hong Kong so I can quickly transfer money from my bank account in Hong Kong to crypto exchange using FPS (local payment system for fast bank transfers). What could go wrong? After all Hong Kong is freest economy in the world, right? I submitted KYC documents to crypto exchange called Weever including copy of my Hong Kong ID as they requested. They very quickly responded that they need copy of my passport as well. I submitted copy of my Russian passport. This time they got silent. After a few days, they sent me email saying that Russia is on the US Office of Foreign Assets Control sanction list, so they just require me to fill a form about source of the funds. I told them that the source of my funds is salary, my Hong Kong bank can confirm that along with my employment contract. They got very silent after I sent them a filled form. After a week of silence I asked them - when my account get approved? They said that their compliance office will review my application soon. And they got very silent again. I waited for two or three weeks. Then I asked them again. And I immediately got email with title - Rejection for Weever Account Opening. And text of email was:
We are sorry to inform you that Weever may not be able to accept your account opening application at this stage.
Exactly the same situation I had with one crypto exchange in Europe back in 2017. Luckily I have accounts at other crypto exchanges including Gemini, one of most compliance obsessed exchange in the world. Although I don't keep my money there because I can't trust them, who knows what might come into head of their compliance officer one sunny day. By the way, I'm living and working outside of Russia for quite a few years. The situation with crypto exchanges is much worse for those who still living in Russia. I give you a few other examples of financial discrimination is not related to troubles with my Russian citizenship. Back in 2018, I still lived in the Netherlands. I logged in into my brokerage account just to buy US ETFs as I always do - SPY and QQQ. I placed my order and it failed to fill. I thought it's just a technical problem with my brokerage account. After a few failed attempts to send buy orders for SPY and QQQ, I contacted their support. What they told me was shocking and completely unexpected. They said I'm not permitted to buy US ETFs anymore as EU resident because EU passed a law to protect retail investors. So as a EU resident I'm allowed to be exposed to more risk by buying individual US stocks but I'm not allowed to reduce my risk by buying SPY because ... EU wants to protect me. I felt final result of new law. By the way, on paper their law looks fine. And the final example. It's a known fact that US public market become less attractive in recent decades. Due to heavy regulatory burden companies prefer to go public very late. So if successful unicorn startup grows from its inception/genesis to late adoption, company's valuation would be 3-5 orders of orders of magnitude. For example, if valuation of successful company at inception is 1 Mil USD, then at its very latest stage it's valuation would be 10 Bil USD. So we have 10'000 times of growth. In the best case scenario, company would go public at 1 Bil USD 5-10 years before reaching its peak 10 Bil USD. So investors in private equity could enjoy 1000 fold growth and just leave for public only last 10 fold growth stretched in time. In the worst case scenario, company would go public at 10 Bil USD, i.e. at its historical peak. But there are well known platforms to buy shares of private companies, one of such platforms is Forge Global. You can buy shares of almost all blue chip startups. You can even invest in SpaceX! But as always, there is a catch - US government wants to protect not just US citizens but all people in the world (sounds ridiculous, right?). US law requires you to have 1 Mil USD net worth or 200'000 USD annual income if you want to buy shares of non-public company. So if you are high-net worth individual you can be called "accredited investor". Funny thing is that the law intends to protect US citizens but even if you are not US citizen and never even lived in US, this law is still applies to you in practice. So if you are "poor loser", platforms like Forge Global will reject you. So high-net worth individuals have access and opportunity to Bitcoin-style multi-magnitude growth every 5-10 years. Contrary to private equity markets, US public markets is low risk/low return type of market. If you have small amount of capital, it's just glorified way to protect yourself from inflation plus some little return on top. It's not bad, US public market is a still great way to store your wealth. But I'm deeply convinced that for small capital you must seek fundamentally different type of market - high risk/high return. It's just historical luck that Bitcoin/Ethereum/etc were available for general public from day one. But in reality, viral/exponential growth is happening quite often. It's just you don't have access to such type of markets due to regulatory reasons. I intentionally described these examples of financial discrimination in full details as I experienced them because I do feel that vast majority of people in the first world honestly think that current financial system works just fine and only criminals and terrorists are banned. In reality that's not true at all. 99.999% of innocent people are completely cut off from modern financial system in the name of fighting against money laundering. Here is a big picture why it's happening. There are rich countries (so called western world) and poor countries (so called third world). Financial wall is carefully built by two sides. Authoritarian leaders of poor countries almost always want full control over their population, they don't like market economy, and since market forces don't value their crappy legal system (because it works only for close friends of authoritarian leader) they must implement strict capital control. Otherwise, all capital will run away from their country because nobody really respects their crappy legal system. It only has value under heavy gun of government. Only friends of authoritarian leader can move their money out of country but not you. Leaders of rich countries want to protect their economy from "dirty money" coming from third world. Since citizens of poor countries never vote for leaders of rich countries nobody really cares if rich country just ban everyone from poor country. It's the most lazy way to fight against money laundering - simply ban everyone from certain country. Actually if you look deeper you will see that rich countries very rarely directly ban ordinary people from third world. Usually, there is no such law which doesn't allow me to open bank account somewhere in Europe as non-EU resident. What's really happens is that US/EU government implement very harsh penalties for financial institutions if anything ever goes wrong. So what's actually happens is that financial institutions (banks, brokerages etc) do de-risking. This is the most important word you must know about traditional financial system! So if you have wrong passport, financial institution (for example) bank from rich country just doesn't want to take any risks dealing with you even if you are willing to provide full documentation about your finances. It's well known fact that banks in Hong Kong, Europe, US like to unexpectedly shutdown accounts of thousands innocent businesses due to de-risking. So it's actually de-risking is the real reason why I was rejected so many times by financial institutions in the first world!!! It's de-risking actually responsible for banning 99.999% of innocent people. So governments of rich democratic countries formally have clean hands because they are not banning ordinary people from third world directly. All dirty job is done by financial institutions but governments are well aware of that, it's just more convenient way to discriminate. And nobody actually cares! Ordinary citizens in rich countries are never exposed to such problems and they really don't care about people in third world, after all they are not citizens of US/EU/UK/CH/CA/HK/SG/JP/AU/NZ. And now are you ready for the most hilarious part? If you are big corrupt bureaucrat from Russia you are actually welcome by the first world financial institutions! All Russian's junta keep their stolen money all across Europe and even in US. You might wonder how this is possible if the western financial system is so aggressive in de-risking. Here is a simple equation which financial institution should solve when they decide whether to open an account for you or not: Y - R = net profit Where: Y - how much profit they can make with you; R - how much regulatory risk they take while working with you; That's it! It's very simple equation. So if you are really big junta member from Russia you are actually welcome according to this equation. Banks have special name for serving (ultra) high-net worth individuals, it's called private banking. It's has nothing to do with the fact that bank is private. It's just fancy name for banking for rich. So what's usually happen in real world. Some Estonian or Danish bank got caught with large scale money laundering from Russia. European leaders are ashamed in front of their voters. They implement new super harsh law against money laundering to keep their voters happy. Voters are ordinary people, they don't care about details of new regulations. So banks get scared and abruptly shutdown ALL accounts of Russian customers. And European voters are happy. Modern money laundering laws are like shooting mouse in your house using bazooka! It's very efficient to kill mouse, right? Now imagine world without financial borders. It's hard to do so because we are all get so used to current status quo of traditional financial system. But with additional effort you can start asking questions - if Internet economy is so global and it doesn't really matter where HQ of startup is located, why they are all concentrated in just a few tiny places like Silicon Valley and ... well, that's mostly it if you count the biggest unicorns! Another question would be - why so many talented russian, indian, chinese programmers just go to the same places like San Francisco, London and make super rich companies like Amazon, Google, Facebook, Apple to get even richer? If all you need is laptop and access to internet, why you don't see any trade happening between first and third world? Well actually there is a trade between first and third world but it's not exactly what I want to see. Usually third world countries sell their natural resources through giant corporations to the first world. So it's possible to get access to the first world market from third world but this access usually granted only to big and established companies (and usually it means not innovative). Unicorns are created through massive parallel experiment. Every week bunch of new startups are created in Silicon Valley. Thousands and thousands startups are created in Silicon Valley with almost instant access to global market. Just by law of large numbers you have a very few of them who later become unicorns and dominate the world. But if you have wrong passport and you are located in "wrong" country where every attempt to access global market is very costly, then you most likely not to start innovative startup in the first place. In the best case scenario, you just create either local business or just local copy-paste startup (copied from the west) oriented on (relatively small) domestic market. Obviously in such setup it's predictable that places like Silicon Valley will have giant advantage and as a result all unicorns get concentrated in just a few tiny places. In the world without financial barriers there will be much smaller gap between rich and poor countries. With low barrier of entry, it won't be a game when winner takes all. Whole architecture of decentralized cryptocurrencies is intended to remove middle man and make transactions permissionless. Governments are inherently opposite to that, they are centralized and permissioned. Therefore, decentralized cryptocurrencies are fundamentally incompatible with traditional financial system which is full of middle mans and regulations (i.e. permissions). Real value of crypto are coming from third world, not the first world. People are buying crypto in rich countries just want to invest. Their financial system and their fiat money are more or less already working for them. So there is no immediate urgency to get rid of fiat money in the first world. So the first world citizens buying crypto on centralized KYCd exchanges are essentially making side bet on the success of crypto in third world. Real and natural environment of cryptocurrencies is actually dark OTC market in places like Venezuela and China. But cryptocurrencies like Bitcoin and Ethereum have a big limitation to wide adoption in third world - high volatility. So the real target audience is oppressed (both by their own government and by first world governments) ordinary citizens of third world countries yet they are least who can afford to take burden of high volatility. Right now, Tether is a big thing for dark markets across the world (by the way, dark market doesn't automatically imply bad!). But Tether soon or later be smashed by US/EU regulators. The only real and working permissionless stable cryptocurrency (avoiding hyped word - stablecoin) is DAI. DAI is the currency for post-Tether world to lead dark OTC market around the world and subvert fiat currencies of oppressive third world governments. Once DAI become de-facto widespread currency in shadow economy in all of third world, then it will be accepted (after many huge push backs from governments) as a new reality. I'm talking about 10-20+ years time horizon. But if MakerDAO chooses the route of being compliance friendly then DAI will lose its real target audience (i.e. third world). I can not imagine US/EU calmly tolerate someone buying US stocks and using as a collateral to issue another security (i.e. DAI) which is going to be traded somewhere in Venezuela! You can not be compliance friendly and serve people in Venezuela. Facebook's Libra was stupidest thing I've seen. It's extremely stupid to ask permission from the first world regulators to serve third world and create borderless economy. Another stupid thing is to please third world governments as well. For example, Libra (if ever run) will not serve Indian, Chinese, Venezuelan people. Who is then going to use stupid Libra? Hipsters in Silicon Valley? Why? US dollars are good enough already.
So much shit is going on around the world however, Bitcoin is not moving much
During the past years I always thought I could see some correlation between a terrible thing happening in the world, which might influence the market, and the price of Bitcoin. More specifically in most cases the Bitcoin price would rise while e.g. stock prices would fall. In recent times we had or still have conflicts concerning: - Hong Kong - Iran and Strait of Hormuz, influencing oil trade which has always been a major driver of the economy - We had our fair share of Trump activity which influenced Bitcoin prices, however the recent impeachment announcement didn't seem to have much of an impact - There are messages of the population of Venezuela and the Central Bank hoarding Bitcoin however, for a population of 38 million people I would have thought this would have had a bigger impact in the price and more specifically transaction volume, as Venezuela could actually be one of the first places where it was actually used as a currency and not for HODLING. - ECB started quantitative easing again while some (the Dutch and German) Central banks are fiercely against - Last week there where messages about the US and QE or quietly printing 75 billion Finally I think adoption rate after being around for more than a decade is (at least in the Netherlands) low. People do not know how to use it, are scared of using it, or don't see the importance of using it. One of the reasons contribution to a low adaption rate in the Netherlands I think is banks seeing some of the technological improvements of Bitcoin and implementing it. Of course banks do not and cannot implement all the good stuff from Bitcoin as it is simply not compatible with the banking system, they can however implement some nice features the fiat muggles care about most. Most predominantly fast transactions and have now also introduced it e.g. Tikkie (which is an app to transmit small transactions almost instantly). While I still believe in Bitcoin and Blockchain, after all these years, and all this shit happening in the wold, if the rest of the fiat muggles still do not understand Bitcoin when will be the moment they do? Considering low adoption rate and little to no price influence of recent events I start to lose trust in the growth of Bitcoin, in the growth of the Bitcoin price and finally in seeing Bitcoin as an investment. Edit: typo
Market Wrap This last week saw a strong rally across the board in the crypto markets as Bitcoin was brought up from $7,200 to a high of $8,450 alongside rallies in oil and gold with the escalating tensions between the United States and Iran. Bitcoin then saw a sharp reversal down to $7,700 as Trump announced that the US would be backing away from further military confrontation. Bitcoin closes the week +8.26% up. Ethereum followed a similar pattern, going from $127 to a peak of $147 before reversing to $135 for a +5.82% gain. Alts saw an active recovery with Bitcoin SV (BSV), leading the gains with an impressive +20.50%, followed by a +18.76% gain in Monero (XMR). Industry News
Market Wrap This last week saw a strong rally across the board in the crypto markets as Bitcoin was brought up from $7,200 to a high of $8,450 alongside rallies in oil and gold with the escalating tensions between the United States and Iran. Bitcoin then saw a sharp reversal down to $7,700 as Trump announced that the US would be backing away from further military confrontation. Bitcoin closes the week +8.26% up. Ethereum followed a similar pattern, going from $127 to a peak of $147 before reversing to $135 for a +5.82% gain. Alts saw an active recovery with Bitcoin SV (BSV), leading the gains with an impressive +20.50%, followed by a +18.76% gain in Monero (XMR). Industry News
I'm trying to put together a list of what's coming out this year. Have this very simple list so far. Anyone care to add anything or suggest some better dates?
Latest News (most recent first) - Instant channels enable safe Lightning payments with unconfirmed funding Beta - Feb 10, 2019 - Voyager, New trading app from Uber & E-Trade execs announce launch date - Feb 9, 2019 - bumi/blockstream_satellite ruby gem for the Blockstream Satellite API - Feb 8, 2019 - New Zap Desktop 0.3.4 is out. New features, massive performance - Feb 8, 2019 - New release: @lightning desktop app v0.4.0-alpha - Feb 8, 2019 - valerio-vaccaro/Liquid-dashboard - Feb 7, 2019 - Japanese SBI Holdings will allow trading of coins - March 2019 - lnd v0.5.2-beta released - Feb 6, 2019 - Koala studios launches online LN gaming platform - Feb 6, 2019 - Independent Reserve has become the first #crypto exchange in Australia to be insured, with coverage underwritten by Lloyd's of London. - Feb 6, 2019 - Coinbase announces BTC support for their mobile (keep your own keys) wallet - Feb 6, 2019 - Blockstream published a new open source Proof of Reserves tool. - Feb 5, 2019 - RTL release v0.1.14-alpha - Feb 5, 2019 - dr-orlovsky/typhon-spec spec for new trestles side chain published - Feb 5, 2019 - Payment requests coming soon to BTCPay. - Feb 5th, 2019 - Kraken Acquires Futures Startup In Deal Worth At Least $100 Million - Feb 5th, 2019 - Next Blockchain cruise scheduled for June 9-13 - Feb 4, 2019 - Work on a GoTenna plugin to Electrum wallet in progress - Feb 4, 2019 - Bitcoin Candy Dispensers being open sourced - Feb 4, 2019 - New release of JoinMarket v0.5.3 - Feb 4, 2019 - Prime Trust won’t charge its clients to custody digital assets any longer. - Feb 4, 2019 - nodogsplash/nodogsplash wifi access using LN - Feb 3, 2019 - @tippin_me Receive tips using Lightning Network adds message feature - Feb 3, 2019 - Bitcoin-for-Taxes Bill in NH Unanimously Approved by House Subcommittee - Feb 3, 2019 - Full support for native segwit merged into bitcoinj - Feb 3, 2019 - Bitfury is partnering with financial services firm Final Frontier! - Feb 2, 2019 - Now you can open #LightningNetwork channels in @LightningJoule - Feb 2, 2019 - Integrating Blockstream’s Liquid payments on SideShift AI - Feb 1, 2019 - Wyoming legislature passes bill to recognize cryptocurrency as money - Feb 1, 2019 - Casa is open sourcing the code for the Casa Node - Feb 1, 2019 - Casa Browser Extension released - v0.5.2-beta-rc6 of lnd, full release getting very close now - Feb 1, 2019 - Tallycoin adds subscriptions and paywall features in bid to rival Patreon - Jan 31, 2019 - Static channel backup PR merged into LN - Jan 31, 2019 - The NYDFS grants another Bitlicense to ATM operator - Jan 31, 2019 - @pwuille currently proposing the “MiniScript” language to describe BTC output locking conditions for practical composition - Jan 31, 2019 - Fidelity is in the “final testing” phase for its new digital asset business - Jan 31, 2019 - Hardware wallet PR #109 just got merged so that @Trezor no longer requires user interaction for PIN - Jan 31, 2019 - CBOE, VanEck & SolidX filed a new & improved bitcoin ETF proposal. - Jan 31, 2019 - Casa Node code is now open sourced - Jan 31, 2019 - Next Bitoin halving in roughly 497 days - Jan 31, 2019 - BTCPay released 22.214.171.124 - Jan 31, 2019 - @binance now lets users purchase cryptos using Visa and Mastercard credit. - Jan 31, 2019 - Bitfury to Launch Bitcoin Operations in Paraguay - Jan 31, 2019 - Coinbase introduces very generous affiliate program - Jan 30, 2019 - DOJO Trusted Node bitcoin full node. Coming Early 2019 - Jan 30, 2019 - FastBitcoins.com Enables Cash-for-Bitcoin Exchange Via the Lightning Network - Jan 30, 2019 - TD Ameritrade says clients want cryptocurrency investment options - company plans major announcement in 'first half of 2019' - Jan 30, 2019 - Storage component of Fidelity's @DigitalAssets live, with some assets under management, @nikhileshde - Jan 29, 2019 - lightning mainnet has reached 600 BTC capacity - Jan 29, 2019 - Drivechain shows picture of Grin side chain and suggests might be ready in 2 month - Jan 29, 2019 - Lightning labs iOS neutrino wallet in testing stage now - Jan 29, 2019 - Aliant offering cryptocurrency processing free-of-charge - Jan 29, 2019 - Chainstone’s Regulator product to manage assets on the way - Jan 29, 2019 - Fidelity Investments’ new crypto custody service may officially launch in March. - Jan 29, 2019 - Gemini's becomes FIRST crypto EXCHANGE and CUSTODIAN to complete a SOC 2 Review by Deloitte - Jan 29, 2019 - Iran has lifted the ban on Bitcoin and cryptocurrency - Jan 29, 2019 - Confidential Transactions being added into Litecoin announcement - Jan 28, 2019 - http://FastBitcoins.com Enables Cash-for-Bitcoin Exchange Via the Lightning Network - Jan 28, 2019 - Germany’s largest online food delivery platform now accepts btc - Jan 27, 2019 - Launching a Bitcoin Developers School in Switzerland - Jan 27, 2019 - RTL release v0.1.13-alpha Lightning Build repository released - Jan 27, 2019 - The first pay-per-page fantasy novel available to Lightning Network. - Jan 27, 2019 - Numerous tools become available to write messages transmitted with Blockstream Satellite - Jan 26, 2019; - BTCPay 126.96.36.199 released - Jan 26,2019 - WordPress + WooCommerce + BTCPay Plugin is now live - Jan 25, 2019 - Juan Guaido has been promoting #Bitcoin since 2014 is new interim president of Venezuela - Jan 25, 2019 - Morgan Creek funds @RealBlocks - Jan 25, 2019 - Coinbase integrates TurboTax - Jan 25, 2019 - Robinhood received Bitlicense - Jan 25, 2019 - Anchor Labs launches custody - Jan 25, 2019 - NYSE Arca files w/ @BitwiseInvest for BTC ETF approval - Jan 25, 2019 - South Korea, Seoul, Busan & Jeju Island currently working to create pro crypto economic zones. - Jan 25, 2019 - valerio-vaccaro/Liquid-dashboard - Jan 25, 2019 - Bermuda to launch crypto friendly bank - Jan 25, 2019 - Mobile Bitcoin Wallet BRD Raises $15 Million, Plans for Expansion in Asia - Jan 25, 2019 - BullBitcoin rolling out alpha access of platform - Jan 25, 2019 - Electrum Wallet Release 3.3.3 - Jan 25, 2019 - Bitrefill, purchase Bitcoin and have it delivered directly over LN - Jan 25, 2019 - South Korean crypto exchange Bithumb looking to go public in USA - Jan 24, 2019 - Bitcoin Exchanges Don’t Need Money Transmitter Licenses in Pennsylvania - Jan 24, 2019 - US; New Hampshire Bill Aims to Legalize Bitcoin for State Payments in 2020 - Jan 24, 2019 - Robinhood, LibertyX Receive Licenses from New York Regulators - Jan 24, 2019 - Bakkt Bitcoin futures contract details released - Jan 24, 2019 - Blockstream CryptoFeed V3 now includes 30+ venues and 200M+ updates per day - Jan 24, 2019 - Binance Jersey – The Latest Binance European Exchange - Jan 2019
Bitfury Rolls Out Lightning Peach, Its Own Suite of Lightning Tools - Jan 24, 2019
Good news. v3.6.2 just hit the play store for Android. - Jan 24, 2019
Bitrefill - LN now accounts for more payments than alts - Jan 24, 2019
proofd.app allows you to store a checksum of a doc on the blockchain - Jan 24, 2019
487 days until bitcoin halving - Jan 23, 2019
New #GalaxyS10 coming with ‘Samsung Blockchain KeyStore’- Jan 24, 2019
Proof-of-Reserves tool for Bitcoin github.com/stevenroose/reserves - Jan 24, 2019
Lightning Network Pac-Man Arcade introduced - Jan 23, 2019
Hi Bitcoiners! I’m back with the 32nd monthly Bitcoin news recap. For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you an overview of what happened in bitcoin over the past month. You can see recaps of the previous months on Bitcoinsnippets.com A recap of Bitcoin in August 2019 Adoption
I will try and outline my thoughts on the Venezuela crisis and Maduro, and why I believe Canada's support for overthrowing the government should be resisted. First off Maduro: The Maduro government has made many mistakes that deserve criticism.
During the boom in the early 2000s the immense revenues from oil led to the decline of all other sectors (the "resource curse" or "dutch disease"). The "dutch disease" led to oil exports ballooning from about 50% of exports when Chavez took power to 98% under Maduro. There were no efforts to combat "dutch disease".
Chavez and Maduro both failed to set up a sovereign wealth fund or equivalent investment in diversified sectors. This is related to the first mistake, but is another thing that could have been done during the boom.
Maduro's shift towards administrative and authoritarian methods of curtailing the power of the right wing opposition. While the right wing opposition is bad and wants bad things for the country, the curtailing of the opposition was undemocratic and allowed for the casus belli the United States and Brazil are currently pursuing against Venezuela.
Trying to solve the IMF currency sanctions that are Zimbabwe-ing the currency by switching to a petro-bitcoin seems brilliant on paper, since it bypasses all sanctions as if they weren't even there, but tying it to the existing currency which is under hyperinflation conditions, and oil which is still falling in price, and being a cryptocurrency which most people don't understand seems like it's going to blow up in his face. I would love to be proven wrong and move this from the 'stupid mistake' into the 'brilliant reform' column, but I'm not holding my breath. The United States certainly isn't going to use it and they are their biggest customer for oil.
Now on to the fact that Venezuela is a target of regime change and has been since Chavez was first elected in 1999. The first US backed coup d'etat, celebrated by the New York Times, happened in his first term in 2002, and was prompted by his increased nationalization of the Venezuelan oil industry and land reform. After the coup d'etat failed (due to massive protests by the Venezuelan populace), the Venezuelan oil executives then engaged in a 2 year long lockout to force Chavez to rescind his increased nationalization. When that failed and he was re-elected in 2007, the US refused to recognize him as the president of Venezuela.
All international settlements (except those deliberately choosing to avoid the IMF system to immunize themselves from the IMF such as China-Russia trade) have to go through the IMF international settlements. Venezuela cannot avoid the IMF because the biggest customer for their oil is also the country that controls the IMF that being the United States (nearly 40% of Venezuela's oil is bought by the United States). China and India can buy Venezuelan oil with Petros and bypass IMF sanctions but about 60% of the customers for Venezuelan oil are US or US-aligned countries.
The IMF is capable of sanctioning currency settlements and with export-dependent countries like Venezuela, without being able to make currency settlements in your own currency, the result is hyperinflation. This previously destroyed Zimbabwe's economy when the IMF sanctioned Zimbabwe's currency settlements to defend white supremacy and white ownership of farms.
Additional US specific sanctions starting in 2014 have further devastated the Venezuelan economy. The US has a deep toolset to, as Nixon said of Allende's Chilean government, "make their economy scream".
In 2018 there was an attempted assassination of Maduro with an explosive drone which failed only due to detonating prematurely and this year there was an attempted coup d'etat, it is only the failure of both of these measures that have prompted this drive for an invasion and armed overthrow of Maduro.
The combination of missteps and ham-handed authoritarianism with deliberate exacerbation of the oil-price driven decline and IMF instituted hyperinflationary crisis have all combined together to bring immense suffering to the Venezuelan people, and the drive is to make conditions so terrible that Maduro is overthrown simply to get relief. The truth is that should Maduro be overthrown the result will be post-USSR shock therapy, privatizing the oil industry and intense austerity which will make the current crisis seem like a holiday. Despite the mistakes and authoritarian turn of the Maduro government, the alternative is much worse. Venezuela must be given the opportunity to find their own way out of this political and economic crisis, sanctions must end to give Venezuela's people relief. Things are bad now but things can always be worse, and we should focus on making things better for Venezuela, not throwing them to the wolves of disaster capitalism.
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In case you missed it: Major Crypto and Blockchain News from the week ending 12/14/2018
Developments in Financial Services
A cryptocurrency exchange-traded product (ETP) that trades on Switzerland’s Six Exchange saw record trading volumes on Thursday and Friday last week, suggesting that institutional investors may be buying the dip in cryptocurrencies. Four major cryptocurrencies underlie the HODL ETP, including Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). While HODL ETP’s one-month average daily trading is 20,000 shares, on Thursday, December 6th, and Friday, December 7th, 53,233 shares and 62.986 shares were traded, respectively.
A report published last week by global anti-money laundering policymaker, the Financial Action Task Force (FATF), indicates that cryptocurrency exchanges in the United Kingdom pose a, “low risk,” for money laundering and terrorist financing activities. The report, however, does highlight that such activities on UK cryptocurrency exchanges are an, “emerging risk,” although there is not yet enough evidence to suggest that these activities are occurring through cryptocurrency exchanges. In its report, the FATF urged UK regulators to, “Continue to develop an understanding of emerging risks (such as virtual currencies) and intelligence gaps, and take appropriate action.”
Andreas Utermann, CEO and CIO of Allianz Global Investors, called on global financial regulators to ban cryptocurrencies while speaking at a panel discussion in London. According to a report by Reuters, Utermann said, “You should outlaw it,” while participating in a panel alongside Andrew Bailey, the head of Britain’s Financial Conduct Authority. Bailey responded by saying that Utermann’s comments were, “quite strong,” before adding that cryptocurrencies have, “no intrinsic value.”
Basis, a major US-based stablecoin project, is shutting down its operations and returning most of its funds to investors, according to a report by crypto news outlet The Block. The report by The Block cited, “multiple people with direct knowledge of the situation,” in claiming that the algorithmic stablecoin project, which generated UDS$133mm of funding through private investments in April, will return funds to investors. According to the Co-Founder and CEO of competing stablecoin project Nevin Freeman, Basis’ shutdown is due to regulatory concerns around one of its token types. Freeman explained, highlighting that algorithmic stablecoins implement a “secondary token”, known as a “bond token”, to help maintain the primary token’s peg. In many cases, regulators like the US Securities and Exchange Commission (SEC) consider these secondary tokens to be securities.
Binance, the world’s largest cryptocurrency exchange by daily trading volume, announced that it has added Circle’s US dollar-pegged stablecoin, USD Coin (USDC), to its combined Stablecoin Market. Circle, a company backed by Goldman Sachs, first released its stablecoin in September of this year. Binance’s combined Stablecoin Market features other notable stablecoins, like Tether (USDT), that trade against cryptocurrencies as interchangeable base pairs.
Coinone, a South Korea-based cryptocurrency exchange, has officially launched Cross, a cross-border payments application that leverages Ripple’s xCurrent product to increase efficiencies. The application, released by Coinone’s payments subsidiary, Coinone Transfer, targets unbanked or underbanked South Koreans by enabling the transfer of funds to Thailand or the Philippines at a low cost.
Gemini, a cryptocurrency exchange heralded by the Winklevoss twins, released an official company blog post this weekend announcing that the firm will support Bitcoin Cash (BCH) custody and trading. The exchange will support only the Bitcoin Cash ABC network at this time, adding that they, “are continuing to evaluate Bitcoin SV over the coming weeks or months, and we may or may not choose to support withdrawals and/or trading of Bitcoin SV in the future.” Additionally, the company detailed that its listing of BCH is pending regulatory approval by the New York State Department of Financial Services.
Gemini, the cryptocurrency trading platform founded by the Winklevoss twins, announced the launch of a mobile crypto trading application in an official blog post today. Accompanying the launch of the crypto trading app is a new investment vehicle, dubbed, “The Cryptoverse,” that is comprised of a basket of cryptocurrencies weighted by market capitalization. While speaking to Bloomberg today, Cameron Winklevoss said that, “A lot of our decisions have perhaps given off a perception that we’re more institutional-based. The reality of the situation is that we have a diverse customer base. And the retail story is just beginning.” The Winklevoss twins went on to detail of a goal to expand reach to Asian markets by 2019’s end.
Good Money, a US neo-banking platform, has closed its Series A investment round that generated USD$30mm led by cryptocurrency-focused merchant bank Galaxy Digital and the founder of EOS (EOS) Block.one. Good Money aims to provide a variety of banking service and certain financial instruments to US account holders while exploring innovative changes to traditional banking practices. “Modern banking is a primary driver of so many issues we as a society face – from economic inequality, institutional racism, environmental destruction to political corruption,” said Good Money founder Gunnar Lovelace. Specifically, Good Money eliminates ATM fees while offering each bank user equity in the company.
Kraken, a notable cryptocurrency exchange, is seeking to raise funding with a USD$4bn valuation for the company and a USD$100,000 investment minimum, according to CoinDesk. In an email to investors, Kraken CEO Jesse Powell wrote, “There is presently a limited time opportunity available to a very small select number of clients to purchase shares.” The email goes on to detail that the exchange will close its offer on December 16th.
OKEx, the second-largest cryptocurrency exchange by daily trading volume, will begin listing Bitcoin Cash ABC under the original Bitcoin Cash ticker (BCH), as per an official announcement Tuesday. Additionally, OKEx will change the Bitcoin Cash SV ticker from BCHSV to BSV. The announcement by OKEx comes after other notable cryptocurrency exchanges have made the same switch, including Coinbase and Gemini.
PayPal, an online payments portal, has launched its own internal private blockchain platform that will allow staff to trade and exchange tokens while generating ideas and participating in programs to foster innovation, as per a report by news outlet Cheddar. The private blockchain network, which was built by 25 PayPal employees in just 6 months, will allow employees to earn more for enrolling in learning and development programs. The PayPal tokens are not tradeable, or worth anything for that matter, outside PayPal’s blockchain.
PricewaterhouseCoopers (PwC), a big four consulting firm, is partnering with Bitfury Group, a large blockchain software and mining firm, to develop a blockchain accelerator specific to Russian businesses. As per an official press release by PwC, the partnership will leverage Exonum, Bitfury’s open source framework to build blockchain applications, for educational courses and seminars. The partnership aims to meet the, “current needs,” of PwC’s enterprise clients in Russia.
Revolut, a digital banking alternative with an in-application cryptocurrency exchange, announced that it has been awarded a European banking license. Seeking to become the, “Amazon of banking,” the license will allow Revolut to offer traditional banking services alongside its current cryptocurrency offerings to European customers. Nikolay Storonsky, Founder and CEO of Revolut, said in regards to the newly acquired license that, “With the banking license 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’. Our vision is simple: one ap with tens of millions of users, where you can manage every aspect of your financial life with the best value and technology.”
Shinhan Bank, the second-largest commercial bank in South Korea, is launching a new project to implement blockchain technology in its internal processes with a goal of eliminating human error. According to a report by news outlet The Korea Times, Shinhan also recently completed a training program for its staff to increase their knowledge of blockchain technology across various applications. After Shinhan implemented blockchain technology for interest rate swap transactions on November 30th, South Korea’s second-largest bank is now aiming to apply the technology in its record-keeping process to enhance overall efficiencies.
SolarisBank, Germany’s second-largest and Europe’s ninth-largest stock exchange, is partnering with Stuttgart Exchange Group, a German fintech company, to jointly develop a cryptocurrency exchange. As per a report by Cointelegraph Germany, the joint cryptocurrency exchange venture, “is scheduled to launch in the first half of 2019.” This news comes after SolarisBank announced plans to launch a zero-fee cryptocurrency trading application this past May.
The Canadian city of Calgary is becoming the first city in Canada to launch a digital version of its local currency, according to a report by the Global News. Dubbed as the Calgary Digital Dollar, the digital currency will be exclusive to Calgary and operate alongside the country’s Canadian Dollar. Calgary-based businesses will now be required by law to accept at least 10% of a payment in digital currency, although they are allowed to accept up to 100%.
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is launching a pilot of its Global Payment Initiative (GPI) to combat growing blockchain and fintech solutions, according to an official announcement last week. Currently, the SWIFT Network is used by global financial institutions to conduct global financial payments and cross-border transfers of fiat currency. Although the project is still in its early stages, the GPI pilot hopes to, “build the foundation of a new integrated and interactive service that will significantly improve efficiencies in the payments process and which will ultimately be made available to all 10,000 banks across the SWIFT network.”
The United Arab Emirates’(UAE) central bank is partnering with the Saudi Arabian Monetary Authority (SAMA) to develop a cryptocurrency to facilitate cross border transactions between the two countries, according to a report by news outlet GulfNews. In a meeting pertaining to global banking standards and regulation in the Arab region, Mubarak Rashed Al Mansouri, the governor of the UAE’s central bank, said, “This is probably the first time ever that witnesses the cooperation of monetary authorities from different countries on this topic and we hope that this achievement will foster similar collaboration in our region.” The prospective digital currency will be used by both central banks and financial institutions in the countries.
TokenSoft, a security token offering (STO) startup, has acquired a 20% stake in regulated broker-dealer Marpine Securities LLC in order to launch its own regulated broker-dealer. After acquiring the 20% stake, TokenSoft will launch its new regulated broker-dealer entity, called TokenSoft Global Markets, that will be registered through the Financial Industry Regulatory Authority (FINRA). The new regulated broker-dealer entity will allow TokenSoft to advise token issuers through every step of the Initial Coin Offering (ICO) process. Additionally, TokenSoft will now be able to legally operate in services related to insurance and management.
Tom Lee, co-founder of Fundstrat Global Advisors and a notable cryptocurrency pundit, believes that the current fair value of Bitcoin (BTC) is between USD$13,800 and USD$14,800, according to a note published on Thursday. Lee arrived at this valuation by taking into account the number of active wallet addresses, usage per account, and other supply and demand metrics. Additionally, Lee forecasted that the fair value of BTC will reach USD$150,000/coin once BTC wallets account for 7% of Visa’s 4.5bn account holders.
UAE Exchange, an exchange based in the United Arab Emirates (UAE), is partnering with Ripple to launch a blockchain-based cross-border remittances platform by 1Q2019, as per a Reuters report on Thursday. The report details further that Finablr, a payments and foreign exchange company that owns UAE Exchange, observes a high level of remittance inflows from expatriate workers in the Middle East region. “We expect to go live with Rippel by Q1, 2019 with two other Asian banks,” said Finablr CEO Promoth Manghat, adding, “This is for remittances to start with, from across the globe into Asia.”
De Nederlandsche Bank, the Netherlands’ central bank, will soon require domestic cryptocurrency providers to obtain a license from the regulator to operate, as per a report by Dutch news outlet DeTelegraaf. The Netherlands' central bank is taking these measures in the hope that it will, “prevent such cryptocurrencies from being used to launder money obtained through crime or to fund terrorism.” In order to receive a license, cryptocurrency firms must maintain Know-Your-Customer procedures and report any suspicious activity to the Dutch central bank.
Eddie Hughes, a conservative member of the United Kingdom’s Parliament, suggested that Bitcoin (BTC) should be accepted as legal tender for tax and utility payments, according to news outlet Express.co.uk. The article discusses that Hughes, who is a self-described, “crypto enthusiast with amateur knowledge,” recently met with the Royal National Lifeboat Institution, which accepts cryptocurrency donations. This news comes after the US state of Ohio announced that it would begin accepting BTC as legal tender for tax payments.
Following a case in Canadian courts that resulted in a ruling ordering mistakenly sent crypto funds to be returned to their owner, a blog post from the University of Oxford Faculty of Law is noting that there could be repercussions with the case potentially setting a precedent for lost or stolen cryptocurrency claims. The Canadian court case’s ruling will require defendant Brian Wall to return USD$370,482 worth of Ethereum (ETH) tokens to the plaintiff, Copytrack. The blog post from the University of Oxford Faculty of Law reads, ‘This precedent may have major repercussions for the enforcement of claims regarding lost or stolen cryptocurrencies,” adding that the ruling allows the plaintiff to recover tokens, “in whatsoever hands those Ether Tokens may currently be held.”
Japan’s government is considering plans to ease cryptocurrency taxes in an effort to revitalize the domestic cryptocurrency and blockchain industry. This week, Japanese Congressman Takeshi Fujimaki proposed four significant changes to taxation requirements pertaining to digital assets, which include: a reduction on the cryptocurrency gains tax from 55% to 20%; elimination of taxes on crypto-to-crypto payments; elimination of taxes on miniscule cryptocurrency payments; and an adjustment that would allow cryptocurrency investors to carry forward losses across quarters and years, effectively until cryptocurrencies are ‘cashed’ out.
Jay Clayton, Chairman for the United States Securities and Exchange Commission (US SEC), said during a speech that Initial Coin Offerings (ICOs), “can be effective,” for fundraising, but that, “securities laws must be followed.” Clayton went on in his speech to comment on the US SEC’s work regarding distributed ledger technology (DLT), digital assets, and ICOs, saying that it is an, “area where the Commission and staff have spent a significant amount of time,” and, “that this trend will continue in 2019.”
Jay Clayton, the Chairman of the US Securities and Exchange Commission (SEC), expressed his optimism for distributed ledger technology’s potential impact on traditional financial markets in a testimony before the US Senate Committee on Banking, Housing, and Urban Affairs yesterday. According to a transcript published on the SEC’s website, Clayton said, “I am optimistic that developments in distributed ledger technology can help facilitate capital formation, providing promising investment opportunities for both institutional and Main Street Investors.” Additionally, Clayton highlighted that the SEC is, “Focusing a significant amount of attention and resources on digital assets and initial coin offerings (ICOs).”
Maxim Akimov, the Deputy Prime Minister of Russia, announced that no significant changes will be made to the draft of a bill concerning cryptocurrency regulation in the country, as per news outlet Finmarket. The bill was already approved by Russia’s parliament, the State Duma, in May 2018, although the bill has generated substantial discussion since. Since approval of the bill, all cryptocurrency and token-related terminology have been removed and replaced with the term “digital rights”. At the beginning of December, Pavel Krasheninnikov, Chairman of Russia’s State Duma, said that the bill needed to be, “significantly,” changed.
Pan Gongsheng, a deputy governor of the People’s Bank of China, highlighted that Security Token Offerings (STOs) in China are illegal while speaking at a summit in Beijing. As per a report by news outlet the South China Morning Post, Gongsheng told the summit that, “illegal financing activities through STOs and ICOs were still rampant in the mainland despite a nationwide clean-up of the cryptocurrency market last year.” In citing reasoning for the continued ban on STOs, Gongsheng explained that, “Virtual money has become an accomplice to all kinds of illegal and criminal activities.”
Pantera Capital, a blockchain and cryptocurrency-focused investment firm and hedge fund, is warning investors that as much as a quarter of their ICO project could potentially be violating US securities laws, according to a Bloomberg report. In a newsletter to clients, Pantera Capital warned, “While we believe the vast majority of the projects in our portfolio should not be affected, approximately 25% of our fund’s capital is invested in other projects with liquid tokens that sold to US investors without using Regulation D or Regulation S”
Russia has no intention of implementing Venezuela’s state-backed digital currency, the Petro, into commercial operations, according to a report by news outlet RIA Novosti. While speaking to reporters this week, Russian Deputy Finance Minister Sergey Storchak said, “Representatives from our tax service and central bank... got acquainted with the cryptocurrency Venezuela is introducing,” adding, “But no more than that. As for payments, they’re not happening yet.”
South Korea’s representative body, the National Assembly, held its first official meeting with seven of the country’s largest cryptocurrency exchanges on Monday. The purpose of the meeting was to debate cryptocurrency regulation between stakeholders of South Korea’s cryptocurrency industry. Cryptocurrency exchanges Bithumb, CobitCoin, Coinone, Upbit, Gopax, Coinplug, and Hanbitco were among the attendees of the debate, which reportedly focused on Anti-Money Laundering (AML) customer protections and Know Your Customer (KYC) procedures.
The United Kingdom’s Financial Action Task Force (FATF), an intergovernmental financial security body, is calling on the country’s government to increase monitoring of cryptocurrency markets. According to an official report last week, the UK must overhaul its Anti-Money Laundering (AML) and combat terrorist financing (CFT) efforts in order to prevent illicit activities with cryptocurrencies. “Virtual currency exchange providers are not yet covered by AML/CFT requirements,” the report details, adding, “this is an emerging risk and there is not yet evidence to suggest that broad scale ML/TF is occurring in the UK through this relatively small sector.”
The United States Commodity Futures Trading Commission (CFTC) is interested in learning more about the Ethereum (ETH) network, its technology, and the markets build around it. On Tuesday, the CFTC published a Request for Input (RFI) that requests the public’s feedback on different questions concerning Ethereum. The RFI explains that its goal is to inform the CFTC about Ethereum and similar emerging technology, saying, “The input from this request will advance the CFTC’s mission of ensuring the integrity of the derivatives market as well as monitoring and reducing the systematic risk by enhancing legal certainty in the markets. The RFI seeks to understand the similarities and distinctions between certain virtual currencies, including here ether and bitcoin, as well as ether-specific opportunities, challenges, and risks.”
The United States Securities and Exchange Commission (US SEC) is ordering that cryptocurrency asset manager CoinAlpha Advisors LLC pay a USD$50,000 fine, alleging that the firm conducted an unregistered securities sale. After forming in October 2017, CoinAlpha raised more than USD$600,000 from investors to invest in digital assets. In an official release, the US SEC said that CoinAlpha did not file a Notice of Exempt Offering of Securities, meaning that the firm breached securities laws by soliciting securities investors. Additionally, the firm allegedly did not adhere to proper know-your-customer procedures to verify that investors were accredited.
Venezuela is reportedly beginning to convert its citizens’ monthly pension payments into Petros, Venezuela’s controversial state and oil-backed cryptocurrency, according to a report by local economics blog the Caracas Chronicles. The conversion of Venezuelan pensioners’ payments into Petros came after the country already sent pensioners their monthly payment in the form of a check for Venezuelan Bolivars -- normally, upon receiving their check, pensioners would deposit their funds into a bank account where they could then withdraw fiat from local branches. The Venezuelan government, however, converted pensioners’ fiat payments into the Petro upon their deposit into a bank. In the first few weeks of the Petro’s existence, its value has risen from 9,000 to more than 15,000.
Warren Davidson, an Ohio Congressman and notable advocate of blockchain and digital assets, is floating blockchain technology as a solution to fund US President Donald Trump’s prospective US-Mexico border wall. While interviewing with NPR, Congressman Davidson suggested, “the American people, or whomever should choose to donate,” could pay for the border wall, adding, “you could do it with sort of like a crowdfunding site or you could do a blockchain and you could have WallCoins.”
“The long-term value of Bitcoin (BTC) is more likely to be USD$100 than USD$100,000,” says Kenneth Rogoff, a former Chief Economist for the International Monetary Fund (IMF) and the current Harvard University Professor of Economics and Public Policy. While writing an article for major UK news outlet The Guardian, Rogoff highlighted that, because BTC’s use is limited to transactions, it makes the digital asset more vulnerable to a bubble-like collapse. Rogoff also cited that BTC’s energy-intensive verification processes is, “vastly less efficient,” than systems that leverage, “a trusted central authority like a central bank.”
A new report by PeckShield, a blockchain security company that monitors various cryptocurrency ecosystems, details that decentralized applications (DApps) on the EOS (EOS) blockchain have lost as much as USD$1mm in hacks since July 2018. The report details further that DApps on the EOS network have sustained 27 breaches since July, which are responsible for the up to 400,000 EOS that have been compromised from hacks. Guo Yonggang, a blockchain security expert cited in a report on the matter by crypto media firm Blockchain Truth, believes that the hacks can be attributed to security problems with the DApps themselves, rather than with the EOS network.
A new study published by the Cambridge Centre for Alternative Finance on Wednesday finds that the number of unique ID-verified cryptocurrency users nearly doubled in in the first 3 quarters of 2018. The study details that total ID-verified users increased to 35mm in the first three quarters of 2018 from 18mm at the end of 2017, representing an increase of 94%. As per an analysis of the study by Bloomberg, the growth of crypto’s userbase despite the market decline, “could signal that an eventual recovery could be coming.”
Amid the continued cryptocurrency sell-off, only two cryptocurrency mining machines remain profitable, according to real-time data from ASICMinerValue.com. ASICMInerValue.com, which calculates the profitability of Application-Specific Integrated Circuit (ASIC) miners, indicates that only indicates that only the Ebank Ebit E11++ and ASICminer 8 Nano 44Th mining models are profitable for mining cryptocurrencies based on the SHA-256 hash function -- notable cryptocurrencies like Bitcoin (BTC) and Bitcoin Cash (BCH) use this has function.
Bitmain, a large Chinese cryptocurrency mining firm, announced that it is closing its development center in Israel, citing current cryptocurrency market conditions. In closing Bitmaintech Israel, the crypto mining giant was forced to fire all 23 employees. Among the employees let go is Gadi Glikberg, head of Bitmain’s Israeli branch and Vice President of International Sales, who said on the recent market turmoil, “The crypto market has undergone a shake-up in the past few months, which has forced Bitmain to examine its various activities around the globe and to refocus its business in accordance with the current situation.”
Busan, a major South Korean city, will be the beneficiary of the South Korean government’s plan to spend 4bn Korean won (USD$3.5mm) to establish a blockchain-enabled virtual power plant (VPP). As per a report by South Korean news outlet Yonhap News Agency, the project will be angled as a national competition in 2019, hosted by South Korea’s largest electric utility, Korea Electric Power Corporation (KEPCO). The VPP will integrate the idle capacities of multiple energy resources through a cloud-based distributed ledger in order to optimize power generation and decrease costs.
Church’s Chicken, a large international fast food franchise, is partnering with Dash Venezuela to accept cryptocurrencies in its Venezuelan locations. According to an official press release, 13 Church’s Chicken establishments will begin accepting Dash (DASH) as payment following, “extensive and rigorous days of training,” staff to understand cryptocurrencies. With the addition of Church’s Chicken, more than 2,200 establishments in Venezuela accept DASH as payment.
Crypto.com, a Hong Kong-based cryptocurrency payments platform, announced the appointment of former PayPal executive Tyson Hackwood to serve as the firm’s Vice President and Head of Global Merchant Acquisition in an official press release today. Crypto.com aims to increase cryptocurrency adoption by both merchants and consumers through their point-of-sale (PoS) transaction terminals. Crypto.com CEO Kris Marszalek believes that Hackwood will be integral in furthering this goal, saying, “As we develop the Crypto.com Chain to fulfill the current industry need to pay and be paid in crypto, Tyson will play an important role in expanding the number and quality of merchants that are part of our network.”
Hyperledger, a notable blockchain consortium, is continuing its robust expansion after announcing the addition of 16 new members at the Hyperledger Global Forum in Basel, Switzerland. Among the notables to join the consortium are, Alibaba Cloud, Citigroup’s Citi Ventures arm, and Deutsche Telekom. The latest addition of 16 members brings the total membership of Hyperledger to more than 260 different companies. In a public statement, Hyperledger Executive Director Brian Behlendorf said that, “The growing Hyperledger community reflects the increasing importance of open source efforts to build enterprise blockchain technologies across industries and markets. The latest members showcase the widening interest in and impact of DLT and Hyperledger."
Jeremy Henrickson, the former Chief Product Officer at Coinbase, has departed the US-based cryptocurrency exchange after serving since July 2016. “Jeremy’s contributions to Coinbase over the past two years were invaluable,” said a Coinbase spokesperson, adding that, “he helped to build our scrappy startup team into a high-functioning product and engineering organization -- overseeing a 5x+ growth of the team.” Henrickson’s departure comes after long-term Coinbase executives Adam White and Hunter Merghart left the US-based cryptocurrency exchange in recent months.
LinkedIn’s, “2018 U.S. Emerging Jobs,” report released on Thursday ranks the role of blockchain developer as the fastest growing job in the United States. The report by LinkedIn indicates that blockchain developer jobs have increased 33-fold in the past 12 months alone. San Francisco, New York City, and Atlanta are among the cities with the highest demand for blockchain developer jobs.
Orbs, a unique hybrid blockchain platform, raised more than USD$15mm in cryptocurrencies to fund its development of a public blockchain, according to a company blog post. South Korean application provider Kakao lead the fundraising efforts with a representative telling CoinDesk that the company, “always seeks to invest and support innovative startups, and Orbs is a good example.” In total, Orbs raised 139,000 Ether (ETH) and 892 Bitcoin (BTC), amounting to roughly USD$15.4mm. Orbs aims to build a public blockchain with this funding that is, “universal,” and, “scalable,” for decentralized applications (DApps) with the, “liquidity of a base layer.”
Samsung has reportedly filed patent applications for three different blockchain-related trademark requests that all pertain directly to smartphones, according to news outlet Galaxy Club. Specifically, the patents named “Blockchain KeyStore”, “Blockchain Key Box”, and “Blockchain Core” all pertain to cryptocurrency custody capabilities on smartphones. This news comes amid the release of HTC’s Exodus 1 and Sirin Labs’ FINNEY, both of which are being marketed as blockchain smartphones with cryptocurrency custody capabilities.
When a capitalist tries to sell his product or service for the highest price they can get, they are seen as greedy. When a worker tries to sell their labor for the highest price they can get, they are seen as noble and deserving. (488 points, 138 comments)
Liberals: We need to end the two party system! *Howard Schultz announces possible presidential run as an independent * Liberals: WOAAAHH THERE BUDDY SLOW DOWN! (444 points, 54 comments)
I'm looking forward to the Democratic Primary because it's going to be one giant competition on who can give people the most free things. (408 points, 132 comments)
Some good comments I found on the internet: "As long as people don't understand the Bitcoin system the spread fear will always cause dumps. Tulip and Bitcoin lol. Even compared to 2009 or the dot.com bubble there are many differences to Bitcoin. But the most important difference to understand is the following: The very definition of a bubble in the sense of bankers and "experts" is that a price rises without an appropriate countervalue. This happened with the tulip mania (flowers!), dot.com bubble (fomo in companies without any working products) and the housing bubble (granted credits without an countervalue -> to keep it simple). So what’s about Bitcoin? Well, Bitcoin has an countervalue and this value rises steadily. Its the cost to mine one. Every generated Bitcoin costs a significant amount of fiat money which represents its countervalue. - By the way to wipe out the argument "Bitcoin, as a digital currency is, is nothing worth is utter bullshit". A number printed on paper is worth nothing if you see it like that. Bitcoin is here to stay. It’s worth something. The market cap is very high because of demand, yes. This demand is mostly caused by fomo at the moment, yes. But Bitcoin has a significant countervalue and is built on a system which manages itself and is not controlled by a corporation with greedy managers who make money on the back of others. The market decides whats going on. Bitcoin has been arround for over 10 years. This is nothing compared to tulip bulbs. Lmfao this is hilarious, more like digital gold. This comparision is stupid. Tulips are easy to grow. They could make a tulip for everyone that’s what crashed the market. There are 21 million Bitcoins forever. That’s it. Bitcoin could be more valuable than gold. We don’t know how much gold there is in the ground, but there are21 million Bitcoins and everyone is gonna want a piece of that. Bitcoin is a store of value, a tulip is a flower. The ‘Bitcoin Bubble’ is often compared to the tulip bubble that started in 1636 and rose over 6000% in a number of years. The tulip bubble was when tulips were brought into Holland from Turkey and the Dutch loved the novelty of this new, rare flower. As different colours and patterns of this flower emerged into the Dutch market, it became a fashion statement to own such rare flowers. In simple economic terms, the rarity of the flower (supply) was significantly over-weighed by the demand of the Dutch society, and let to the point where people were selling their houses, land and life savings for a flower! Why would they do such a thing? Because they believed that the tulip price would forever rise. The fear of missing out on a potential profit lead the whole nation into believing that a flower was worth more than a house. Many people argue that this is the case with Bitcoin, I strongly disagree with this comparison because Bitcoin and all the other cryptocurrencies use blockchain technology that will revolutionise the way we live. Blockchain technology is not a fashion statement. It is global in scale and once implemented will provides tremendous value to society. Just like the internet did when it was introduced. They are already doing it. They know there will only be 21 million Bitcoins. Unlike their FIAT which is printed at will and the central bankers can go negative or do a Crypress and do a bail in. Decentralized money is the future. Hate all you want. I don't care I will lost my ass on bitcoin as I have the past 5 years :). Its users are investors until its hits critical mass then the daily swings will be less volatile and it will function with moderate price swings. At 1% adoption rates this is basically the internet in 1996. 70 million accounts and coinbase alone is addding 500,000 a week. All the Bitcoin HODLers haven't sold they have went out and educated the masses about it the past 5 years. We are at the beginning of the biggest wealth transfer in history as the paper garbage central bankers print to infinity has an alternative. Absurd. Tulip bulbs are a good, Bitcoin is a currency. The more investors the higher the confidence and the less likely for value to drop. Isn't Fiat paper money the biggest bubble in history? Considering it's not backed by gold or any property and it can be printed. I would say Bitcoin is Fiat currency 2.0 the only difference is that Bitcoin can't ever become a bigger bubble than paper money due to its limited supply of coins. My point is that both Bitcoin and Fiat currency is fake money. If you think Fiat currency is real than I have a bridge I want to sell you. In terms of fake money, Bitcoin is better because there is a limited supply. Ask people in Venezuela how their paper money is working for them. They learned the hard way, that's it's paper and a big bubble. I would take Bitcoin over Fiat any day of the week. Gold is the only real money that exists, there's a reason governments stake gold. The value is that it’s safe, limited, digital and that its decentralized. That is all it takes. I think it’s here to stay. Governments and their media hate it of course. The banks/fiat currency are the biggest bubble. How much money do "the people" of the world owe? $200+ trillion. That’s a huge bubble, but we allow the banks to continue with their BS. 200 trillion from interest (money from nowhere). The tulip analogy is a really bad example. Tulips are: A. Perishable. B. Non divisible. C. Not easily transported. Therefore they could never be classed as currency. 1-If internet goes down, BTC will be the least of your worries 2-If internet somehow gets shut down then banks will not be able to make payments. 3- And most important, there are alternatives to sending btc via internet that EXIST TODAY already. Bitcoin can be transmitted via satellite (https://futurism.com/bitcoin-now-comes-from-satellites-in-space-welcome-to-the-future/), via sms (http://gk2.sk/how-to-push-bitcoin-transactions-via-sms/) and there is even secure USB sticks with Bitcoin (coolest tech) (opendime.com). What is gold's intrinsic value? You make jewelry from it? For $1300 an ounce? How much would it dropped if it would only be used for jewelry, electronics, etc. and not store of value? I would say over 90%. But you are right, gold is backed by its properties, just like Bitcoin. What’s common with all bubbles it that the commodity has no real value. Tulips are flowers, real estate market was terribly overpriced, pyramidal schemes offer a stupid idea. Bitcoin is an invention, like railroad and electricity it provides a service of digital gold, but it's much more safe than gold and easy to transport. No one can print new Bitcoins. An no one can restrict it. Everybody looks at Bitcoin, nothing else. Whatever you do, don't look at Central Banks printing confetti or heaven forbid please please DO NOT look at the derivatives bubble. Derivatives are in essence just bets placed upon other bets by gamblers with little to no ethics or morality but this is so considered safe and legit by the establishment, lol."
The following article was written by Olav Dirkmaat, professor of economics at the University of Francisco Marroquín in Guatemala, and translator of the masterpiece Human Action by Austrian economist Ludwig von Mises in Dutch ('Human action'). He previously worked at both GoldRepublic and Nxchange. He is also a PhD candidate in economics at the Rey Juan Carlos University in Spain. I would like to share these thoughts with the community. Not because I believe in them, but because there are some good arguments in the article and I think other viewing points to crypto will in the end make crypto win. What are your thoughts about the article? (If you liked the discussion or the article, please vote me up. If you disliked the article, but think discussing crypto is a good thing, don't vote me down :P) When there is an (artificial) economic expansion, driven by cheap credit and too low interest rates, we know that sooner or later things will go wrong. What we do not know is exactly how it goes wrong. We only know that - at artificially low interest rates - some ill investments are made in certain sectors. In the 1990s, it was (starting) internet companies, domain names and the NASDAQ. In the run-up to the 2008 crisis, it was predominantly house prices, (amateur) property speculators and mortgage lenders. And this time? Where do bubbles form? We have previously discussed how - thanks to artificially low interest rates - equities are again overvalued, mainly technology companies. But also the recent craziness in the crypto coins can not be overlooked. In a few months Bitcoin rose to a record high of almost $ 20,000 dollars. Many crypto investors seemed to become dormant rich; even gold investors began to doubt why they were investing in precious metal and not the crypto-mired mists. While (in the 90s) some amateur speculators in domain names became very quickly very rich, this time amateur speculators get rich in crypto coins. Just like domain names then, crypto coins are now - unfortunately - the victims of speculative excesses. Do you still doubt if crypto coins are in a bubble? Take the Dell share. Dell is a company that I invested in just before the acquisition by Michael Dell himself (and accomplices). Dell is a technology company whose stock price first scored less than a dollar but within a short time frame reached a record high of nearly $ 55 dollars per share. During the dotcom bubble, Dell was one of the many internet companies that achieved a billion dollar valuation. THE DELL SHARE PRICE INCREASED RAPIDLY DURING THE DOTCOM BUBBLE AND COLLAPSED AGAIN LATER. ALTHOUGH DELL CERTAINLY HAD FUNDAMENTAL VALUE, THE PRICE WAS MUCH TOO HIGH. SOURCE: YAHOO FINANCE Why do I call Dell? Very simple. Dell was (and is) a valuable company with products, customers, distribution channels and revenues. But the price paid in 2000 for a Dell share was simply excessive. We must be very careful that we never mix price and value. And when we pay too much for something, even though it is valuable, it is not a sensible investment. Unfortunately, many crypto investors do not seem to have learned this ancient lesson. I hope to have some credit with you. After all, I have been familiar with the crypto coins for years. Since 2013 I own a Bitcoin fraction and since 2014 I have nice amounts of Ripple (XRP). I still visited the cryptocongresses when only nerds and libertarians visited them, and men in suits were still absent. I will certainly not become the next Bitcoin millionaire, but I am more than familiar with the opportunities and limitations of this new technology. I even had the chance to spend time this year with Nick Szabo, a crypto veteran who already invented the forerunner of Bitcoin in 1998. Although I am a fan of this technological revolution, I warn of a bubble. A bubble that even harms Bitcoin does not help. Bitcoin does not benefit from the current mania. And according to my conviction, even the biggest Bitcoin defender can not but admit that there is an enormous crypto soap bubble. The most important quality of money is that it is a unit of account (a "unit of account" in English). And Bitcoin's current popularity is aggravating volatility rather than reducing volatility. Less volatility means a more stable unit of account. Note: the problem is not that there is "deflation" because the Bitcoin appreciates (rises in price). There is nothing wrong with that. Prices can adapt perfectly to a rising currency. Just like prices nowadays - as a rule - adapt perfectly to a falling currency (central banks aim at at least two percent annual inflation which eats away the purchasing power of our money). The problem is that the price of a Bitcoin is far too unstable to ever be money or a unit of account. The following joke shows immediately what the problem is: FREELY TRANSLATED: A SON ASKS ONE BITCOIN FOR HIS BIRTHDAY TO HIS IN-BITCOIN-INVESTING FATHER. HIS FATHER IS OUTRAGED: WHAT ?! $ 15,554 ??? $ 14.354 IS A LOT OF MONEY! WHAT DO YOU NEED $ 16,782 FOR? We are talking about day volatility here. The bitcoin price can increase or decrease by ten to twenty percent in question, something that would be exceptional in the precious metal market, for example in the case of the gold price. The current speculation and buying drive of a larger, largely ignorant public - only makes the bitcoin price more unstable. The volatility is getting worse, not better. The question is whether the introduction of forward contracts (futures) can change this. Last weeks, bitcoinfutures were introduced on both the CME and the Cboe. According to the theory, a forward market reduces price volatility, but it remains to be seen who has the stomach to resist the volatility of bitcoin prices. If we currently look at the liquidity on these bitcoin futures markets and the number of contracts traded, then the conclusion is that these futures markets (unlike other raw materials) will not solve Bitcoin's volatility problem. Some Bitcoin supporters, however, still believe that Bitcoin is not a bubble. They want to silence "doom-thinkers". The Bitcoin has, according to them, absolute value in a world full of fiat money. Admittedly, our current financial system is very fragile and has enough problems. But that does not mean that Bitcoin is valuable. Bitcoin has the problem that it is too volatile to actually serve as a currency or an effective means of exchange. This does not matter in some contexts (take Venezuela, where capital controls are a reality and the currency, the Venezuelan Bolivar, is as unstable as Bitcoin itself), but in the context of developed countries such as the Netherlands or the United States, it does. Moreover, Bitcoin seems to be losing its own success, given the enormous waiting times and the huge transaction costs (lastly, a Bitcoin transaction cost about thirty dollars). And who is currently buying Bitcoin to use it as money? The answer is: nobody. There are only investors who buy it in the hope of selling it later (and the term is getting shorter and shorter). The only "real" transaction that takes place are investors who have already made a good profit and want to "cash out" a part by exchanging these for gold, goods or real estate. Okay, nobody is perhaps exaggerated: there is a limited group of Chinese (and Venezuelans / Nigerians) who want to circumvent capital controls in their countries and find a way to get money out of the country. But that is really not enough for the current price of well over $ 10,000. Then there is the argument that the question will first be speculative, with the origin of investors hoping to earn a profit by buying Bitcoin well before that moment. This question would "stabilize" the price and reduce volatility over time. However, the evidence seems to point the other way at the moment. Even though the current Bitcoin price would be justified by fundamentals, there is still a cryptobubble. But even then, if we accept the above arguments for the sake of simplicity and pretend that Bitcoin already has a lot of fundamental value (that is, it is used as a means of exchange), even the biggest Bitcoin defenders have to admit that there is a cryptobubble. Why? The reason is simple. Bitcoin is not the only crypto coin. And that while there is a strong "winner takes all" effect in the money industry. A coin has value because many people want it and actually use it. A dominant currency therefore quickly has a large market share. Take for example the dollar and the euro, the two largest coins in the world, also the most liquid coins in the world. But the same principle also applies in cryptoland. We can never use five hundred different coins; no fiat coins nor crypto coins. So how can someone explain that there are more than a hundred cryptocurrences with a valuation of more than one hundred million dollars? And how can it be explained that there are more than five hundred crypto coins with a valuation of one million or more? If Bitcoin really were so valuable, and there is no question of a cryptobubble, then the Bitcoin price would be followed by at most some complementary coins (Ether, Ripple?), But certainly not by hundreds of other competing crypto coins. Let alone that these, predominantly worthless, crypto coins earn millions valuations. In other words, if someone wants to dismiss a cryptobubble by stating that the current Bitcoin price is justified by the fundamental value and usefulness of Bitcoin, then surely that does not apply to the 500+ other crypto coins? The cryptobubble can not be denied. This is one for the history books. This chapter in monetary history will probably go down in the books as the cryptobubble. At the next crisis, investors will enter the boat again. Make sure you do not let yourself be led by the issues of the day. As a gold investor, do not be fooled by friends and family who seem to double their money every week. Patience pays off, as always, on the stock market. It is about the long term, not the short term. And gambling is not investing. The cryptobubble is accompanied by a huge bubble elsewhere: mainly the stock market and large parts of the bond market. The current zero interest rates are destroying markets. And as I said earlier, we do not know in advance where the soap bubbles form, just that bubbles form. But now we know that one of those soap bubbles is the cryptobubble.
We are excited to announce that the following aspects of the bounty list have been assigned to the marketing team under the coordination of our Head of Marketing, Toomuchfun. To accept a bounty, simply apply for it. If you feel the price for a bounty should be increased you may also let us know your reason and we could potentially do so if it makes sense. To keep up with the momentum we have steadily been building our marketing team, we have decided the best path forward is for marketing to focus on completing these tasks in the immediate short term: Rewrite Halo documentation Organize and post a treasure hunts Assist in new PR campaign Manage Facebook marketing campaign Manage Reddit marketing campaign Improve “Official” Facebook page YouTube videos about BitBay SEO Bitcointalk Thread and Website Create Signature Artwork The following bounty tasks are available if anyone would like to put their names forward to contribute: Graphics Designer Make a GIF of the “software in action” - $50 Needs screenshots of markets, list of features with diversity of screenshots compelling marketing and nice animation. Seeing is believing we can use this to post on forums Requirements: Must have a background in graphic design or marketing Consult with Aletha before beginning Make Infographic - $50 SYS, Open Bazaar vs Bitbay - Revised. Make people understand there is no comparison. We have 2 party escrow and 100s of features. I don't even think OB has wallet functions. You may have to download the competitions wallet to know how far ahead we are. ETH vs BitBay infographic - Consult with David first so he can make bullet points. The themes are: Our smart contracts apply more to real world situations, ETH is bloatware our stuff is all P2P, we have a user interface and they don't have demo contracts, we have hundreds of features within their wallet yet the mist client is goofy and doesn't let me select text. Do a serious comparison, take notes and report your opinion of differences. ETH has the advantage of being able to issue tokens and do fancy contracts and programmable accounting. A great advantage and although they can do double deposit it required 3 years of work for me to make the user interface, user experience etc and currently we are STILL the only software in the world that does contracting between peers. ETH has a protocol but no UI or demo contracts or way for peers to reach out to each other. Redesign BitcoinTalk OP infographics - Consult with Craig yet real graphic design Requirements: Must have background in graphic design or marketing Redesign of “About BAY” infographic. Testers Client bug bounty – $25 Coding bugs only. UI discrepancies do not count Requirements: None - feel free to try out every feature you can. If you find any bugs post them in the #support channel on Slack or on Bitcointalk Make sure you turn ‘on’ your ‘create debug file upon exit’ feature found in your general settings tab Public Marketing Bounties: Find a list of PR firms – $10 Rank your favorite PR firm first, talk to a few and see their outreach, compare prices and let us know which one you think is the best fit for us to hire. Can we reach a larger audience? Is there a Chinese PR firm?! Bonus if you find one that’s cheap. Requirements: Inquire with Aletha before beginning YouTube videos about BitBay - $0.01 per subscriber Get a youtuber to talk about BitBay and potentially interview a veteran community member or talk about bitbay in general. This is only if they are posting relevant content as a girl who does makeup videos should not be talking about Bitbay. If more than 500 usd in bounties are paid and we don't see effects we might change the bounty reward If the youtube has more than 100,000 subscribers you get a $100 bonus up to 5 of these bounties can be redeemed before a review. If the youtube has a million subscribers or more we don't care if their content is relevant. It could be a hot chick who normally talks about makeup and we will still take it. Requirements: Inquire with Aletha before beginning Placement on new Exchanges campaign – $25 - $1000 https://coinmarketcap.com/exchanges/volume/24-hou That link sorts exchanges by volume. Although it’s true that the peg will make us obsolete to exchanges that don't want to work with us, we need to tap into the Chinese market and hopefully Polo (take a guess which one we will pay 1000 for). Smaller exchanges with almost no volume will get a lower reward and we will base what we pay entirely on volume. The TOP exchanges get a greater reward. But just because it’s the top doesn't mean it will get the maximum reward. The current budget for this will not exceed $3000 dollars until our core team reviews the effects of the new exchanges. IF there are costs involved approve those with us first and we will decide if to pursue said exchange. Requirements: Inquire with Aletha before beginning Video Production Video SEO campaign - $25 per video + costs (max 10 videos) Start grabbing keywords to optimize easy videos. As not only do videos rank on google immediately but they usually rank at the top because google owns youtube. Keywords:"smart contracts" "unbreakable contracts" "decentralized markets" "rolling peg" "bitbay" and maybe run analytics on other keywords. If you want to split the bounty two people can work on this, one to manage SEO keyword research and another to create the videos. If the video is not cool or compelling we reserve the right to reject the attempt to claim this. So talk to core to make sure we like it. The payment of this job may be increased. Might require two people, one with video SEO expertise and one who makes good videos for the keywords. Requirements: Inquire with Aletha before beginning Writers “Quality” posts to forums and news articles with good traffic - Price varies based on “quality” of post and location Post to bitcointalk especially in communities we haven't tapped like Chinese OP. Do NOT SPAM the forums, space out your comments. Do things right, trolling will not be paid and no bots or abusing the bounty. In order to get paid submit links to the comments so we can confirm your count. We will give you a bonus for finding a new relevant forum. Do people post to topix? Where do the chinese post? What forums other than bitcointalk garner traffic? Reddit is included here so this bounty applies to reddit. Make sure the posts are quality. Not all slack members will qualify for this bounty as people should want to promote this way anyways because they love the project. So please ask us before you start. However we need to start reaching out more. Commenting on news articles is allowed if its not trolling or obvious marketing of our project and it must be on articles that are actually related to the subject. Contact us for GIFs Requirements: Inquire with Aletha or Craig before beginning or else you will not receive any bounty. Translators Translate Bitcointalk OP - $30 per translation Translate to chinese, russian, greek, spanish, dutch, french, arabic, hindi. The site will have a plugin that allows visitors to edit so this can be easily managed from freelancer or upwork. Requirements Inquire with Translator Manager(s) before beginning Manage Chinese and/or Spanish communities - $20 per week per community Our target markets are China and Venezuela cash buyers. Currently both countries have a hard time getting into crypto and our software solves that problems with trustless wires. We can increase payment if you can put in significant hours. Reach out on QQ and make a list of platforms that are used in China or forums they go to in order to talk about crypto. Contact their media outlets and bloggers and vloggers. Should probably speak the language but if we don't have anyone who does then take the bounty and use google translation until someone is found to take your place Requirements Inquire with Aletha before beginning Web Designer Web Developer Update website – $1000 Contact us for all the details. You may need to take a moment to be familiar with the project. Requirements: Inquire with Aletha and David Zimbeck We are very fortunate to have such a strong community that it may be the case we have several volunteers working the same tasks. No doubt the marketing team will also end up with additional volunteer tasks to distribute as we start to implement their strategy. So for now, I would invite anyone interested in these tasks to make themselves known. Please be aware the focus is on quality, not quantity, so if you’re struggling for time, please be realistic with what tasks you can manage over a 4-8-week timeframe. Here is an updated list of our current marketing team. I would welcome them to assign themselves for the bounty tasks as well as anyone currently not listed in a specific role who may be interested. Head of Marketing – TooMuchFun Marketing assistant(s) - Lude - Nozulan - Spoink – Mctjin – Rafa – Alfonsorodz Web Dev(s) – TBA soon Web Security – Gitgud Graphic Designer(s) – JurrasicPizza, and Jbar2797 Video producers – Lowercase – Mctjin Team assistants – Gitgud – Ratatackeur – xxotakuxx SEO specialist - silvervox325 Writers – BitBay_guy – GjSteele Music – Mctjin Social Media Manager(s) – BitBay_Guy – Mctjin – GjSteele – Lude BitBay Developers – David Zimbeck – Anoxy – Thehiddenconifold - majd1239 - andreasp1994 Marketplace Manager(s) – rqdxrocket, Jimmyb Support Manager(s) – Seeking Positions Requirements Must have thorough knowledge of the Client Patience when working with others Translation Manager(s) – Seeking Position
Venezuela ist schon seit längerem stark von der Inflation getroffen. Entsprechend haben sich viele Bürger nach einer zuverlässigen Alternative zum Fiat-Finanzsystem umgesehen. Nun geht das Land einen Schritt weiter, denn das Start-up Cryptobuyer zielt nun auf den Aufbau des ersten Bitcoin-Knotens ab, der mit einem Satellitennetzwerk in Venezuela verbunden werden soll. Werbung. Unabhängig ... Bitcoin.org ist ein auf Spenden basiertes Projekt. Jede Spende ist willkommen und hilft bei der Entwicklung der Website. ... Venezuela. Cryptobuyer. Australia. Bitaroo BTC Markets CoinJar CoinSpot CoinTree Digital Surge HardBlock Independent Reserve Mine Digital Swyftx. New Zealand. Independent Reserve Kiwi-coin Mine Digital. Visit Buy Bitcoin Worldwide for user reviews on some of the above ... In Venezuela scheint die Regierung nicht länger gewillt, Bitcoin zu tolerieren. Einige Miner wurden verhaftet, nachdem eine Farm die Stromversorgung gefährdet hat, und die größte und einzige Börse des Landes verlor ihr Bankkonto. Der Begeisterung für Bitcoin scheint dies jedoch keinen Abbruch zu tun. Mit guten Gründen. Bitcoin was one of the first cryptocurrencies that got into the market and was accepted as a trade currency to obtain assets or services. Although Bitcoin is the most popular and most used cryptocurrency in Venezuela, like many other countries in the world, it is not the only one used in the country. Bitcoin’s limited supply Venezuela geldt als de hot spot in Latijns-Amerika op het gebied van Bitcoin mining. Door de olievoorraad is er goedkoop elektriciteit op te wekken en door de hyperinflatie van de lokale peso is de vraag naar Bitcoin groot. In Venezuela is mining nu gelegaliseerd, maar wel volledig onder staatstoezicht.
Dr. Daniele Ganser: Venezuela 2019 - Ein gescheiterter ...
The Magical Crypto Friends Show Episode 39: Bitmain Forked In this episode we talk about: • Venezuelan government using Bitcoin • GBTC • Defi hack • Ebang IP... Der Schweizer Historiker und Friedensforscher Dr. Daniele Ganser sprach am 1. April 2019 in Nürnberg über den gescheiterten Putsch der USA in Venezuela im Fr... since 2010 Dutchsinse Die Krise in Venezuela spaltet die Weltgemeinschaft: Viele lateinamerikanische Staaten sowie die USA wollen den Wechsel. Russland hingegen sieht Maduro als l... Volgens ons nieuwe kabinet verdient Venezuela bijzondere aandacht. Het land, de zuiderbuur van Curaçao, Bonaire en Aruba, loopt namelijk leeg omdat de econom...