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Absent record of price On Aug 04, 2020, as far as I know for the first time in history, Yahoo Finance! does not have any record of the exchange rate neither for BTC-EUR nor for BTC-USD. What may be the cause? What happened on that day? (x-post from /r/Bitcoin)
Where can I download price history data for gemini (and other exchanges)?
I'm looking for downloadable price history data for gemini going back a couple years. I've been able to find data for other exchanges, but not this one. I've also looked through their api and haven't been able to find what I need. Does anybody have any suggestions? If this doesn't exist are there any other good places to download bitcoin exchange price histories?
For the first time in history, the price of Bitcoin Cash dropped to a double digit. On fiat-to-crypto exchanges li… https://t.co/L0TiE1pIVJ - Crypto Insider Info - Whales's
Posted at: December 7, 2018 at 11:07AM By: For the first time in history, the price of Bitcoin Cash dropped to a double digit. On fiat-to-crypto exchanges li… https://t.co/L0TiE1pIVJ Automate your Trading via Crypto Bot : https://ift.tt/2EU8PEX Join Telegram Channel for FREE Crypto Bot: Crypto Signal
Bitcoin Monitor - Monitoring with real-time updates, price visualization across exchanges, lowest price identification, change history and arbitrage potential calculation. Let me know what you think of it!
Bitcoin Price Passes $1,400 to Hit Highest Value in History - Gnosis Tokens Double in Value After Exchange Debut - US Defense Contractor Lockheed Martin Incorporates Blockchain Tech - Indian Bitcoin Exchange Bank Account Unblocked, KYC Now Obligatory
Ledger Live adds Coin control: Here's why that matters.
Ledger Live version 2.11.1 (download link) adds Coin control for power users. The coin control feature gives advanced users more granular control over their wallets. It enables them to change how and which coins are selected when making transactions. This increases their ability to manage their privacy and the network fees they will have to pay to spend their account balance. More control over your coins
How does it work?
The account balance for Bitcoin and its derivatives consists of all the unspent transaction outputs (UTXOs) in the account. You can think of UTXOs as the coins in a regular wallet. When you receive money, you collect coins in your wallet. Then, when you want to make a payment, you get to choose which coins you pick from your wallet. Do you pick the largest coins first? Or do you want to spend all the smaller value coins to lighten up your wallet? Similar considerations can be made when creating a Bitcoin or Bitcoin derivative (altcoin) transaction. Before the Coin Control feature was released, all transactions involving Bitcoin (and altcoins) automatically selected their coins using the First-In-First-Out (FIFO) algorithm. This strategy includes the oldest coin in the account, and when the amount is not sufficient the second-oldest coin is added, and so forth. As of Ledger Live version 2.11.1, users are able to make use of a dedicated Coin Control tool to choose the coin selection strategy and the coins that may be spent.
Click on Send, choose an account to debit, and enter a recipient address. Click on Continue.
Enter an amount and click on Advanced options. You will then see: - The currently selected, default coin selection strategy: Oldest coins first (FIFO). - A toggle to enable Replace-By-Fee (RBF). - A toggle to include coins from unconfirmed, replaceable transactions.
Click on Coin control. The coin control modal opens.
Select a Coin selection strategy from the dropdown menu: - Oldest coins first (FIFO). This is the default strategy that spends the oldest coins first. - Minimize fees (optimize size). This strategy tries to minimize the byte size of the transaction by spending the lowest number of UTXOs. This results in a low network fee. - Minimize future fees (merge coins), This strategy includes the maximum number of inputs so that a potential future price rise does not make smaller UTXOs economically unspendable. If the price of a crypto asset increases too much, small UTXOs may become worth less than the cost of the network fees to spend them.
Select which coins may not be included in the selection by unticking their checkbox. The SELECTED indicator shows which coins will be included in the transaction. By changing the selection strategy and/or coins to include, the user has precise control over which coins end up being spent. The Coins to spend and Change to return indicators show how much is spent from and returned to the account.
Click on Done to return to the Send flow to verify and send the transaction.
The following statuses can be displayed for a coin:
Coins received in a transaction with 0 confirmations without RBF enabled: PENDING
Coins received in a transaction with 0 confirmations with RBF enabled: REPLACEABLE
Coins received in a transaction with 1337 confirmations: 1337 CONFIRMATIONS
By enabling the toggle Include coins from unconfirmed, replaceable transactions, replaceable transactions can be selected in the Coin control screen.
The Privacy use case
One of the main use cases for Coin control is to protect one’s privacy. UTXOs are, unfortunately, not perfectly fungible due to their unique history on the blockchain. Therefore, users may want to spend coins from different sources without mixing them together, because this would indicate to an outside observer of the blockchain that these addresses belong to the same account. For instance, if one were to spend coins bought on a KYC exchange, which are associated with the user’s identity, together with coins bought anonymously using cash, the anonymous coins could be linked to the user’s identity. Another example would be that you would like to prevent spending a high-value coin for smaller purchases because this would unnecessarily show the person you’re paying how much you have. This is similar to not showing the boulanger how much is on your bank account when buying a baguette.
Let us know what you think!
We are excited to release this new feature because we think it will fulfill real needs of an important part of our users. This version of Ledger Live marks an important milestone, but we will continue working on more features that our community wants. So, we invite you to try out Coin control in Ledger Live and let us know what you think! All feedback is welcome on this thread, on ledgerwallet, and you can send suggestions or get help through our official contact form. We'd like to close out by underlining our commitment to the Bitcoin community, and our willingness to build the best wallet ecosystem for newbies as well as for power users.
Rough days transcript: the best is yet to come, kill the old system, BUIDL time, we live in a DeFi bubble, power to the edges, voting challenge and rembeber you're in control kids!
Hi everybody, Charles Hoskinson here, live from warm sunny Colorado! Always warm, always sunny, sometimes Colorado. I got my Massey Ferguson hat on. Take that off, see, my hair's all messed up. One of these days and we'll lose all that hair. It's a rough day today and that markets are terrible down 20 percent for most people and every now and then I talk about price. I rarely do but in general let's talk about the macro. You know crypto is a unique phenomenon. It's a unique thing and these are crazy times. I remember just a few months back when coronavirus first came out and we saw basically everything just bottom out everybody went crazy. They went to cash all asset classes. Just went to hell in a handbasket and I did a video and I said guys our best days are ahead of us as an ecosystem and as an industry and what happened everything got better over time. People started getting more optimistic. You know the reality is that we are seeing an old industry die right now, the legacy financial system. I just read Biden's tax plan. He wants to treat capital gains as ordinary income and put another 12 and a half percent on top of that. All this stuff and at the end of the day all these new taxes amount to a trillion or so extra dollars I think per year in income... Takes six years to the make back what they printed out of thin air for coronavirus and are willing to print again which begs the question why do we even pay taxes anymore if we can just print money out of thin air? We have a whole movement of people: the AOC crowd wake up every day and they say modern monetary theory, the actual supply, doesn't matter. All that matters is how much can we print and get away with it. This is where we're at as an economy right now and globally speaking a lot of other nations agree with this. So, given that the whole world, the leadership of the world, talking about negative interest rates, they're talking about predatory financial systems hyperinflation. Just print money, modern monetary theory, just print as much cash as you want and we look to the cryptocurrency industry, and god, we got a lot of problems... I think this (week's market) collapse is probably because one of the most prominent exchanges in South Korea got hit. They got shut down by the South Korean government and they at one time were responsible for a big part of the Kimchi premium and you know what? Korean government might shut down a few more Korean exchanges and usually the market based these things in. We got crazy yield farming weird stuff going on in the DeFi space. All these other local events and their blips they don't really matter that much just like corona in the long term won't matter too much in terms of the markets. What matters is the trend and where are we going. I had a meeting with some people this morning and we talked about revolutionizing the healthcare industry and getting things better in terms of supply chains. I had another meeting with a soon-to-be former Wyoming state representative about how we're going to get governments to adopt blockchain technology. I talk every day to governors, heads of state, congressmen, senators, mayors. Some cities, sometimes very large cities, with millions of people and they all say the same thing. We need help, we need solutions, we're damn tired of the way that the old system is running. You know what? if we don't solve it a lot of people are going to get hurt or continue to be hurt. The common theme that we all have is no one's happy. Look at the black-lives-matter protests, taking their philosophy of the organization aside, the rank and file people are there not because they love Marxism. They're there because they're unhappy with the way society is and why shouldn't they be? When my grandfather, got his first job, on my mom's side, out of the Korean war, he was a lineman and he made enough money from that job to have seven kids and have his wife stay at home. No college degree, fresh out of high school, fresh out of marine demolitions and a lineman. Five boys and two girls and he could take care of that family and save money every month. Have a car and a house and that was his standard of living. How many people in the middle class today in the United States or Europe for that matter have the ability on a single person's salary to raise seven children and have the wife or the husband stay at home? How many people, not many, why? because our monetary system has failed us. The inflationary policy has created a situation where the Jeff Bezos can have 200 billion dollars and make windfall profits every year regardless of how bad the economy is. The everyday people they don't get a pay increase, so in a lot of cases they don't get to keep their job and their money deteriorates in value a lot more than three percent per year. Our industry has principles in that we worship the math and the protocols and the stable monetary policy. These types of things, and as corrupt as some of the exchanges can be, and some of the bad actors are, all movements suffer from these warts, and they're finite and temporary. You run out of them. At some point self-regulation kicks in or standards kick in and these bad actors flush out and what's left behind is a crucible that contains the truth of the matter which is: we're going to win as an industry. There's just no doubt in my mind. You have bad days in the market, you have damn good days in the market, you get addicted to the good ones and you hate the bad ones but at the end of the day it's only going in one direction which is crypto is going to eat the world: every voting system, every property registration system, every monetary system, the next 25 to 50 years is going to be running on the tech we build and others build and running with the principles of power to the edges. This is the great challenge of our time. To do it in a way that it's fair, transparent, open and doesn't allow a government to co-opt it. It's gonna be a lot of fights here. The least of our concerns and matters are a red day and every now and then I like making these videos to remind people why I'm here and why you should be here too. As toxic as the trolls could be and these other people can be, none of them really matter. Markets don't really matter, what matters are the principles and the purpose behind what we do and you have to ask yourself are you happy with the way that society is? Are you happy with the money in your pocket? Are you happy with the political leadership representing your nations? Are you happy with your future and do you honestly believe if we keep doing the things that we did and continue to do that the future is going to be better or do you think it's going to be worse or stagnant? I think too many people have woken up and they realize that if we continue doing the things that we do the future is going to be a bad place and they don't want that to happen. We're voting with our wallets, we're voting with our feet and we as a collective industry are waking up and figuring out how to build something better and there's some good days and bad days along the way. Today's a bad one but there are going to be good days tomorrow just like I told you back when corona made everything go into free fall and I told you before and I warned you about with ICO mania. We're in a DeFi bubble right now, there's no doubt in my mind about that. I saw it in 2017 with ICO mania. I see it here and there's probably going to be worse days ahead in that respect but the trend is always the same and never forget that and never forget that real people are actually adopting these systems and using them. Every day we see more and more and every day that movement grows and what's so humbling is that I know a lot of you are here with me. It used to be pretty lonely space to be in a few years back. You know, the conferences, they didn't have many people. My first bitcoin meetup group in 2011 in Colorado is at the gypsy house cafe I think, in Denver. I registered for the event I showed up. Two people registered myself and another guy and the other guy didn't show up so I had coffee with myself. Compare that with the Shelley summit that we had in July of 2020. 10 000 attendees, 10 000 from all across the world, compare that to where we are at today just nine years later pretty amazing if you think about how fast things have grown and how many fertile beautiful ideas exist in this industry and what this industry is doing for the world as a whole. That is why we're going to win because at the end of day who can argue against freedom? Who can argue against liberty? Who can argue against putting people in control? The only way you can is when you believe people are stupid, people are evil, people are incapable and I suppose that's a philosophical difference between those who currently lead and the people who want to replace them. The people in charge right now of the world, the big banks, the fortune 500 companies, the media, Hollywood... These things, they're very cynical, people who believe in the worst in us they look at everyday people who sustain and disgust and say these people if left to their own devices will be chaos. These people, if left to govern themselves will burn everything to the ground and destroy everything and every single time I have ever seen a bad event happen what the news doesn't show you and what those people don't talk about is how we come together and help each other out. Someone gets injured in the streets more often than not people show up and help them, people need a helping hand. Someone always shows up more often than not and this is no different. I don't believe the political process is effective anymore in any modern democracy. They've all been co-opted, perhaps they always were but what I do believe is that we can come together and change things economically which is what we're doing. It's messy building our own money, it is messy building our own industry, it is messy. We make a lot of mistakes along the way. We lose a lot along the way, we collect some scars too while we're at it but progress every year keeps being made. The technology every year keeps getting better. Today, right here right now, provably secure proof of stake protocols are in circulation. They were a fantasy five years ago now they're a fact of life today. Right here right now snarks have evolved by an order of magnitude in every category from validation time to efficiency to proof size in all favorable ways which opens up all kinds of new applications and scalability and privacy. Today, right here right now, layer 2 protocols are more advanced than they have ever been in our industry's history giving us the ability to build payment systems that scale to billions of people. Today, right here right now, we are seeing massive innovations in governance and a fertile environment for things like approval voting, threshold voting, preference voting, quadratic voting, that will enable us to build all kinds of new treasuries and governance systems that eventually will scale to nation states. As the politicians of today argue whether the post office can properly count paper ballots that people mail we are building voting systems with state-of-the-art cryptography living on phones where you can vote. It's just a tap of a button and enjoy more security than we have ever imagined before. That is the future this movement, is enabling humanity money flowing at the speed of thought and the speed of thought making new money. How can you compete with that? You can't unless you bring people down with cynicism and disdain and ultimately what competing vision do they offer? That you all should be in chains? That we should just be wage slaves? We should just accept that every year our money deteriorates in value? That we should just accept that the rich will get richer the poor get poorer? Every now and then they throw us table scraps and when we get real angry they usurp the movements and then install their own leadership to basically take those movements from us as we've seen so many times before and we will see again. I'm sorry that's not a road I want to walk down and I'm willing to ride rocky waters, crazy markets, crazy people in unlimited FUD and trolling but I will never apologize for believing in the best in people and I will never apologize for believing that if only we give everyone around us the tools to save themselves and society that they can do it. They don't need great leaders and charisma. No one needs someone to tell them what to do. We all know what to do. We all know how to make the world a better place. We just have to be trusted enough to do it ourselves. You know what for the first time ever we did with bitcoin and then we did it again with ethereum and now we're doing it again with Cardano and we as a movement will continue to do it. I believe our best days are ahead of us and every day I wake up and there's more people marching with me in that respect and one day it'll be millions and one day it'll be billions and one day all those cynics will be gone, replaced with optimists, who once again believe that tomorrow is going to be better than today and that we're going to leave the world just a little bit better than the way we found it. So, every now and then on a tough day I like making a little message and letting you guys all know it's going to be better and you know what? it will be. Just have to have faith that it will be. So, hold the line, hold strong and have faith in each other and go do something, build something, start something. Got a lot of podcasts on the way, a lot of things coming down the pipe. For the dc-fund, a lot of opportunities to actually innovate. Multi assets are coming, soon Plutus is coming, soon guys are going to be able to build a lot. Start thinking today what's the business plan? What would you like to change, small or large. You don't complain about voting. Change voting. Your own organization, maybe you belong to a club, do a blockchain-based voting system. Maybe you have some political influence? Have a primary, democrat or republican, or your local primary or country for selecting candidates done with blockchain-based voting. Maybe you want to build a new financial product? Think about it, figure it out. There's so much there, it's all there, it's ready to go, it's for you to take and build and innovate with. Every day I wake up I try to make the platforms better. I try to push the technology a little further along. I try to hire great people and bring them into our industry. Cardano brought the Haskell industry into the cryptocurrency space. Cardano brought a lot of academics who had never thought about cryptocurrencies into the cryptocurrency space and we made our problems their problems and as a consequence they started solving them in ways we could have never done before. Most importantly Cardano brought a lot of you into the cryptocurrency space and you never thought you'd have this level of control and freedom over the fabric of society in the direction of the human race. Don't let that slip through your fingers. Figure out what you want to do with that super power. Might be small, might be big. I dreamed big, you can dream big too, even if you want to just dream small. Every person counts, every action counts up to the hill. Y'all matter to me and to each other and we're all in this together, never forget that! So, hard day, rough day, tomorrow will be a better one. The day after will even be better. See you guys soon, take care... Source: https://www.youtube.com/watch?v=qM192wAV4LA On Kimchi premium: https://www.investopedia.com/terms/k/kimchi-premium.asp EDIT: title typo -> rembeber -> remember :)
Meet Brock Pierce, the Presidential Candidate With Ties to Pedophiles Who Wants to End Human Trafficking
thedailybeast.com | Sep. 20, 2020. The “Mighty Ducks” actor is running for president. He clears the air (sort of) to Tarpley Hitt about his ties to Jeffrey Epstein and more. In the trailer for First Kid, the forgettable 1996 comedy about a Secret Service agent assigned to protect the president’s son, the title character, played by a teenage Brock Pierce, describes himself as “definitely the most powerful kid in the universe.” Now, the former child star is running to be the most powerful man in the world, as an Independent candidate for President of the United States. Before First Kid, the Minnesota-born actor secured roles in a series of PG-rated comedies, playing a young Emilio Estevez in The Mighty Ducks, before graduating to smaller parts in movies like Problem Child 3: Junior in Love. When his screen time shrunk, Pierce retired from acting for a real executive role: co-founding the video production start-up Digital Entertainment Network (DEN) alongside businessman Marc Collins-Rector. At age 17, Pierce served as its vice president, taking in a base salary of $250,000. DEN became “the poster child for dot-com excesses,” raising more than $60 million in seed investments and plotting a $75 million IPO. But it turned into a shorthand for something else when, in October of 1999, the three co-founders suddenly resigned. That month, a New Jersey man filed a lawsuit alleging Collins-Rector had molested him for three years beginning when he was 13 years old. The following summer, three teens filed a sexual-abuse lawsuit against Pierce, Collins-Rector, and their third co-founder, Chad Shackley. The plaintiffs later dropped their case against Pierce (he made a payment of $21,600 to one of their lawyers) and Shackley. But after a federal grand jury indicted Collins-Rector on criminal charges in 2000, the DEN founders left the country. When Interpol arrested them in 2002, they said they had confiscated “guns, machetes, and child pornography” from the trio’s beach villa in Spain. While abroad, Pierce had pivoted to a new venture: Internet Gaming Entertainment, which sold virtual accessories in multiplayer online role-playing games to those desperate to pay, as one Wired reporter put it, “as much as $1,800 for an eight-piece suit of Skyshatter chain mail” rather than earn it in the games themselves. In 2005, a 25-year-old Pierce hired then-Goldman Sachs banker Steve Bannon—just before he would co-found Breitbart News. Two years later, after a World of Warcraft player sued the company for “diminishing” the fun of the game, Steve Bannon replaced Pierce as CEO. Collins-Rector eventually pleaded guilty to eight charges of child enticement and registered as a sex offender. In the years that followed, Pierce waded into the gonzo economy of cryptocurrencies, where he overlapped more than once with Jeffrey Epstein, and counseled him on crypto. In that world, he founded Tether, a cryptocurrency that bills itself as a “stablecoin,” because its value is allegedly tied to the U.S. dollar, and the blockchain software company Block.one. Like his earlier businesses, Pierce’s crypto projects see-sawed between massive investments and curious deals. When Block.one announced a smart contract software called EOS.IO, the company raised $4 billion almost overnight, setting an all-time record before the product even launched. The Securities and Exchange Commission later fined the company $24 million for violating federal securities law. After John Oliver mocked the ordeal, calling Pierce a “sleepy, creepy cowboy,” Block.one fired him. Tether, meanwhile, is currently under investigation by the New York Attorney General for possible fraud. On July 4, Pierce announced his candidacy for president. His campaign surrogates include a former Cambridge Analytica director and the singer Akon, who recently doubled down on developing an anonymously funded, $6 billion “Wakanda-like” metropolis in Senegal called Akon City. Pierce claims to be bipartisan, and from the 11 paragraphs on the “Policy” section of his website it can be hard to determine where he falls on the political spectrum. He supports legalizing marijuana and abolishing private prisons, but avoids the phrase “climate change.” He wants to end “human trafficking.” His proposal to end police brutality: body cams. His political contributions tell a more one-sided story. Pierce’s sole Democratic contribution went to the short-lived congressional run of crypto candidate Brian Forde. The rest went to Republican campaigns like Marco Rubio, Rick Perry, John McCain, and the National Right to Life Political Action Committee. Last year alone, Pierce gave over $44,000 to the Republican National Committee and more than $55,000 to Trump’s re-election fund. Pierce spoke to The Daily Beast from his tour bus and again over email. Those conversations have been combined and edited for clarity. You’re announcing your presidential candidacy somewhat late, and historically, third-party candidates haven’t had the best luck with the executive office. If you don’t have a strong path to the White House, what do you want out of the race? I announced on July 4, which I think is quite an auspicious date for an Independent candidate, hoping to bring independence to this country. There’s a lot of things that I can do. One is: I’m 39 years old. I turn 40 in November. So I’ve got time on my side. Whatever happens in this election cycle, I’m laying the groundwork for the future. The overall mission is to create a third major party—not another third party—a third major party in this country. I think that is what America needs most. George Washington in his closing address warned us about the threat of political parties. John Adams and the other founding fathers—their fear for our future was two political parties becoming dominant. And look at where we are. We were warned. I believe, having studied systems, any time you have a system of two, what happens is those two things come together, like magnets. They come into collision, or they become polarized and become completely divided. I think we need to rise above partisan politics and find a path forward together. As Albert Einstein is quoted—I’m not sure the line came from him, but he’s quoted in many places—he said that the definition of insanity is making the same mistake or doing the same thing over and over and over again, expecting a different result. [Ed. note: Einstein never said this.] It feels like that’s what our election cycle is like. Half the country feels like they won, half the country feels like they lost, at least if they voted or participated. Obviously, there’s another late-comer to the presidential race, and that’s Kanye West. He’s received a lot of flak for his candidacy, as he’s openly admitted to trying to siphon votes away from Joe Biden to ensure a Trump victory. Is that something you’re hoping to avoid or is that what you’re going for as well? Oh no. This is a very serious campaign. Our campaign is very serious. You’ll notice I don’t say anything negative about either of the two major political candidates, because I think that’s one of the problems with our political system, instead of people getting on stage, talking about their visionary ideas, inspiring people, informing and educating, talking about problems, mentioning problems, talking about solutions, constructive criticism. That’s why I refuse to run a negative campaign. I am definitely not a spoiler. I’m into data, right? I’m a technologist. I’ve got digital DNA. So does most of our campaign team. We’ve got our finger on the pulse. Most of my major Democratic contacts are really happy to see that we’re running in a red state like Wyoming. Kanye West’s home state is Wyoming. He’s not on the ballot in Wyoming I could say, in part, because he didn’t have Akon on his team. But I could also say that he probably didn’t want to be on the ballot in Wyoming because it’s a red state. He doesn’t want to take additional points in a state where he’s only running against Trump. But we’re on the ballot in Wyoming, and since we’re on the ballot in Wyoming I think it’s safe—more than safe, I think it’s evident—that we are not here to run as a spoiler for the benefit of Donald Trump. In running for president, you’ve opened yourself up to be scrutinized from every angle going back to the beginning of your career. I wanted to ask you about your time at the Digital Entertainment Network. Can you tell me a little bit about how you started there? You became a vice president as a teenager. What were your qualifications and what was your job exactly? Well, I was the co-founder. A lot of it was my idea. I had an idea that people would use the internet to watch videos, and we create content for the internet. The idea was basically YouTube and Hulu and Netflix. Anyone that was around in the ‘90s and has been around digital media since then, they all credit us as the creators of basically those ideas. I was just getting a message from the creator of The Vandals, the punk rock band, right before you called. He’s like, “Brock, looks like we’re going to get the Guinness Book of World Records for having created the first streaming television show.” We did a lot of that stuff. We had 30 television shows. We had the top most prestigious institutions in the world as investors. The biggest names. High-net-worth investors like Terry Semel, who’s chairman and CEO of Warner Brothers, and became the CEO of Yahoo. I did all sorts of things. I helped sell $150,000 worth of advertising contracts to the CEOs of Pepsi and everything else. I was the face of the company, meeting all the major banks and everything else, selling the vision of what the future was. You moved in with Marc Collins-Rector and Chad Shackley at a mansion in Encino. Was that the headquarters of the business? All start-ups, they normally start out in your home. Because it’s just you. The company was first started out of Marc’s house, and it was probably there for the first two or three months, before the company got an office. That’s, like, how it is for all start-ups. were later a co-defendant in the L.A. County case filed against Marc Collins-Rector for plying minors with alcohol and drugs, in order to facilitate sexual abuse. You were dropped from the case, but you settled with one of the men for $21,600. Can you explain that? Okay, well, first of all, that’s not accurate. Two of the plaintiffs in that case asked me if I would be a plaintiff. Because I refused to be a part of the lawsuit, they chose to include me to discredit me, to make their case stronger. They also went and offered 50 percent of what they got to the house management—they went around and offered money to anyone to participate in this. They needed people to corroborate their story. Eventually, because I refused to participate in the lawsuit, they named me. Subsequently, all three of the plaintiffs apologized to me, in front of audiences, in front of many people, saying Brock never did anything. They dismissed their cases. Remember, this is a civil thing. I’ve never been charged with a crime in my life. And the last plaintiff to have his case dismissed, he contacted his lawyer and said, “Dismiss this case against Brock. Brock never did anything. I just apologized. Dismiss his case.” And the lawyer said, “No. I won’t dismiss this case, I have all these out-of-pocket expenses, I refuse to file the paperwork unless you give me my out-of-pocket expenses.” And so the lawyer, I guess, had $21,000 in bills. So I paid his lawyer $21,000—not him, it was not a settlement. That was a payment to his lawyer for his out-of-pocket expenses. Out-of-pocket expenses so that he would file the paperwork to dismiss the case. You’ve said the cases were unfounded, and the plaintiffs eventually apologized. But your boss, Marc Collins-Rector later pleaded guilty to eight charges of child enticement and registered as a sex offender. Were you aware of his behavior? How do you square the fact that later allegations proved to be true, but these ones were not? Well, remember: I was 16 and 17 years old at the time? So, no. I don’t think Marc is the man they made him out to be. But Marc is not a person I would associate with today, and someone I haven’t associated with in a very long time. I was 16 and 17. I chose the wrong business partner. You live and you learn. You’ve pointed out that you were underage when most of these allegations were said to take place. Did you ever feel like you were coerced or in over your head while working at DEN? I mean, I was working 18 hours a day, doing things I’d never done before. It was business school. But I definitely learned a lot in building that company. We raised $88 million. We filed our [form] S-1 to go public. We were the hottest start-up in Los Angeles. In 2000, you left the country with Marc Collins-Rector. Why did you leave? How did you spend those two years abroad? I moved to Spain in 1999 for personal reasons. I spent those two years in Europe working on developing my businesses. Interpol found you in 2002. The house where you were staying reportedly contained guns, machetes, and child pornography. Whose guns and child porn were those? Were you aware they were in the house, and how did those get there? My lawyers have addressed this in 32 pages of documentation showing a complete absence of wrongdoing. Please refer to my webpage for more information. [Ed. Note: The webpage does not mention guns, machetes, or child pornography. It does state:“It is true that when the local police arrested Collins-Rector in Spain in 2002 on an international warrant, Mr. Pierce was also taken into custody, but so was everyone at Collins-Rector’s house in Spain; and it is equally clear that Brock was promptly released, and no charges of any kind were ever filed against Brock concerning this matter.”] What do you make of the allegations against Bryan Singer?[Ed. Note: Bryan Singer, a close friend of Collins-Rector, invested at least $50,000 in DEN. In an Atlantic article outlining Singer’s history of alleged sexual assault and statutory rape, one source claimed that at age 15, Collins-Rector abused him and introduced him to Singer, who then assaulted him in the DEN headquarters.] I am aware of them and I support of all victims of sexual assault. I will let America’s justice system decide on Singer’s outcome.
In 2011, you spoke at the Mindshift conference supported by Jeffrey Epstein. At that point, he had already been convicted of soliciting prostitution from a minor. Why did you agree to speak? I had never heard of Jeffrey Epstein. His name was not on the website. I was asked to speak at a conference alongside Nobel Prize winners. It was not a cryptocurrency conference, it was filled with Nobel Prize winners. I was asked to speak alongside Nobel Prize winners on the future of money. I speak at conferences historically, two to three times a week. I was like, “Nobel Prize winners? Sounds great. I’ll happily talk about the future of money with them.” I had no idea who Jeffrey Epstein was. His name was not listed anywhere on the website. Had I known what I know now? I clearly would have never spoken there. But I spoke at a conference that he cosponsored. What’s your connection to the Clinton Global Initiative? Did you hear about it through Jeffrey Epstein? I joined the Clinton Global Initiative as a philanthropist in 2006 and was a member for one year. My involvement with the Initiative had no connection to Jeffrey Epstein whatsoever.
You’ve launched your campaign in Minnesota, where George Floyd was killed by a police officer. How do you feel about the civil uprising against police brutality? I’m from Minnesota. Born and raised. We just had a press conference there, announcing that we’re on the ballot. Former U.S. Senator Dean Barkley was there. So that tells you, when former U.S. Senators are endorsing the candidate, right? [Ed. note: Barkley was never elected to the United States Senate. In November of 2002, he was appointed by then Minnesota Governor Jesse Venture to fill the seat after Sen. Paul Wellstone died in a plane crash. Barkley’s term ended on Jan. 3, 2003—two months later.] Yes, George Floyd was murdered in Minneapolis. My vice-presidential running mate Karla Ballard and I, on our last trip to Minnesota together, went to visit the George Floyd Memorial. I believe in law and order. I believe that law and order is foundational to any functioning society. But there is no doubt in my mind that we need reform. These types of events—this is not an isolated incident. This has happened many times before. It’s time for change. We have a lot of detail around policy on this issue that we will be publishing next week. Not just high-level what we think, not just a summary, but detailed policy. You said that you support “law and order.” What does that mean? “Law and order” means creating a fair and just legal system where our number one priority is protecting the inalienable rights of “Life, Liberty and the pursuit of Happiness” for all people. This means reforming how our police intervene in emergency situations, abolishing private prisons that incentivize mass incarceration, and creating new educational and economic opportunities for our most vulnerable communities. I am dedicated to preventing crime by eliminating the socioeconomic conditions that encourage it. I support accountability and transparency in government and law enforcement. Some of the key policies I support are requiring body-cams on all law enforcement officers who engage with the public, curtailing the 1033 program that provides local law enforcement agencies with access to military equipment, and abolishing private prisons. Rather than simply defund the police, my administration will take a holistic approach to heal and unite America by ending mass incarceration, police brutality, and racial injustice. Did you attend any Black Lives Matter protests? I support all movements aimed at ending racial injustice and inequality. I have not attended any Black Lives Matter protests. My running-mate, Karla Ballard, attended the March on Washington in support of racial justice and equality. Your platform doesn’t mention the words “climate change.” Is there a reason for that? I’m not sure what you mean. Our policy platform specifically references human-caused climate change and we have a plan to restabilize the climate, address environmental degradation, and ensure environmental sustainability. [Ed. Note: As of writing the Pierce campaign’s policy platform does not specifically reference human-caused climate change.] You’ve recently brought on Akon as a campaign surrogate. How did that happen? Tell me about that. Akon and I have been friends for quite some time. I was one of the guys that taught him about Bitcoin. I helped make some videogames for him, I think in 2012. We were talking about Bitcoin, teaching him the ropes, back in 2013. And in 2014, we were both speaking at the Milken Global Conference, and I encouraged him to talk about how Bitcoin, Africa, changed the world. He became the biggest celebrity in the world, talking about Bitcoin at the time. I’m an adviser to his Akoin project, very interested in the work that he’s doing to build a city in Africa. I think we need a government that’s of, for, and by the people. Akon has huge political aspirations. He obviously was a hugely successful artist. But he also discovered artists like Lady Gaga. So not only is he, himself, a great artist, but he’s also a great identifier and builder of other artists. And he’s been a great businessman, philanthropist. He’s pushing the limits of what can be done. We’re like-minded individuals in that regard. I think he’ll be running for political office one day, because he sees what I see: that we need real change, and we need a government that is of, for, and by the people. You mentioned that you’re an adviser on Akoin. Do you have any financial investments in Akoin or Akon City? I don’t believe so. I’d have to check. I have so much stuff. But I don’t believe that I have any economic interests in his stuff. I’d have to verify that. We’ll get back to you. I don’t believe that I have any economic interests. My interest is in helping him. He’s a visionary with big ideas that wants to help things in the world. If I can be of assistance in helping him make the world a better place, I’m all for it. I’m not motivated by money. I’m not running for office because I’m motivated by power. I’m running for office because I’m deeply, deeply concerned about our collective future. You’ve said you’re running on a pro-technology platform. One week into your campaign last month, a New York appeals court approved the state Attorney General’s attempt to investigate the stablecoin Tether for potentially fraudulent activity. Do you think this will impact your ability to sell people on your tech entrepreneurship? No, I think my role in Tether is as awesome as it gets. It was my idea. I put it together. But I’ve had no involvement in the company since 2015. I gave all of my equity to the other shareholders. I’ve had zero involvement in the company for almost six years. It was just my idea. I put the initial team together. But I think Tether is one of the most important innovations in the world, certainly. The idea is, I digitized the U.S. dollar. I used technology to digitize currency—existing currency. The U.S. dollar in particular. It’s doing $10 trillion a year. Ten trillion dollars a year of transactional volume. It’s probably the most important innovation in currency since the advent of fiat money. The people that took on the business and ran the business in years to come, they’ve done things I’m not proud of. I’m not sure they’ve done anything criminal. But they certainly did things differently than I would do. But it’s like, you have kids, they turn 18, they go out into the world, and sometimes you’re proud of the things they do, and sometimes you shake your head and go, “Ugh, why did you do that?” I have zero concerns as it relates to me personally. I wish they made better decisions. What do you think the investigation will find? I have no idea. The problem that was raised is that there was a $5 million loan between two entities and whether or not they had the right to do that, did they disclose it correctly. There’s been no accusations of, like, embezzlement or anything that bad. [Ed. Note: The Attorney General’s press release on the investigation reads: “Our investigation has determined that the operators of the ‘Bitfinex’ trading platform, who also control the ‘tether’ virtual currency, have engaged in a cover-up to hide the apparent loss of $850 million dollars of co-mingled client and corporate funds.”] But there’s been some disclosure things, that is the issue. No one is making any outrageous claims that these are people that have done a bunch of bad—well, on the internet, the media has said that the people behind the business may have been manipulating the price of Bitcoin, but I don’t think that has anything to do with the New York investigation. Again, I’m so not involved, and so not at risk, that I’m not even up to speed on the details. [Ed note: A representative of the New York State Attorney General told Forbes that he “cannot confirm or deny that the investigation” includes Pierce.] We’ve recently witnessed the rise of QAnon, the conspiracy theory that Hollywood is an evil cabal of Satanic pedophiles and Trump is the person waging war on them. You mentioned human trafficking, which has become a cause for them. What are your thoughts on that? I’ve watched some of the content. I think it’s an interesting phenomenon. I’m an internet person, so Anonymous is obviously an organization that has been doing interesting stuff. It’s interesting. I don’t have a big—conspiracy theory stuff is—I guess I have a question for you: What do you think of all of it, since you’re the expert? You know, I think it’s not true, but I’m not running for president. I do wonder what this politician [Georgia congressional candidate Marjorie Taylor Greene], who’s just won her primary, is going to do on day one, once she finds out there’s no satanic cabal room. Wait, someone was running for office and won on a QAnon platform, saying that Hollywood did—say what? You’re the expert here. She won a primary. But I want to push on if we only have a few minutes. In 2006, your gaming company IGE brought on Steve Bannon as an investor. Goldman later bought out most of your stock. Bannon eventually replaced you as CEO of Affinity. You’ve described him as your “right-hand man for, like, seven years.” How well did you know Bannon during that time? Yes, so this is in my mid-twenties. He wasn’t an investor. He worked for me. He was my banker. He worked for me for three years as my yield guide. And then he was my CEO running the company for another four years. So I haven’t worked with Steve for a decade or so. We worked in videogame stuff and banking. He was at Goldman Sachs. He was not in the political area at the time. But he was a pretty successful banker. He set up Goldman Sachs Los Angeles. So for me, I’d say he did a pretty good job. During your business relationship, Steve Bannon founded Breitbart News, which has pretty consistently published racist material. How do you feel about Breitbart? I had no involvement with Breitbart News. As for how I feel about such material, I’m not pleased by any form of hate-mongering. I strongly support the equality of all Americans. Did you have qualms about Bannon’s role in the 2016 election? Bannon’s role in the Trump campaign got me to pay closer attention to what he was doing but that’s about it. Whenever you find out that one of your former employees has taken on a role like that, you pay attention. Bannon served on the board of Cambridge Analytica. A staffer on your campaign, Brittany Kaiser, also served as a business director for them. What are your thoughts on their use of illicitly-obtained Facebook data for campaign promotional material? Yes, so this will be the last question I can answer because I’ve got to be off for this 5:00 pm. But Brittany Kaiser is a friend of mine. She was the whistleblower of Cambridge Analytica. She came to me and said, “What do I do?” And I said, “Tell the truth. The truth will set you free.” [Ed. Note: Investigations in Cambridge Analytica took place as early as Nov. 2017, when a U.K. reporter at Channel 4 News recorded their CEO boasting about using “beautiful Ukranian girls” and offers of bribes to discredit political officials. The first whistleblower was Christopher Wylie, who disclosed a cache of documents to The Guardian, published on Mar. 17, 2018. Kaiser’s confession ran five days later, after the scandal made national news. Her association with Cambridge Analytica is not mentioned anywhere on Pierce’s campaign website.] So I’m glad that people—I’m a supporter of whistleblowers, people that see injustice in the world and something not right happening, and who put themselves in harm’s way to stand up for what they believe in. So I stand up for Brittany Kaiser. Who do you think [anonymous inventor of Bitcoin] Satoshi Nakamoto is? We all are Satoshi Nakamoto. You got married at Burning Man. Have you been attending virtual Burning Man? I’m running a presidential campaign. So, while I was there in spirit, unfortunately my schedule did not permit me to attend. OP note: please refer to the original article for reference links within text (as I've not added them here!)
Axion - A Global Currency, Built To Serve The People
What is Axion? Per Axion's website:
AXION is the answer to our global financial markets that are on the brink of disaster. The original solution to this impending collapse was Bitcoin, a decentralized peer-to-peer currency. However, since its inception, certain aspects of Bitcoin, such as lack of speed and high fees, have shifted Bitcoin into more of a store-of-value than a currency. Axion is the currency to address that. With a high-interest time-locked savings account, Participants in the Axion Network are rewarded daily.
Rewards people, not the corporate elite
Global & Scalable
How is AXION distributed?
Anyone holding Hex2T (pre-sale) tokens will receive AXION at a rate of 1:1
Hex holders will also receive AXION 1:1, limited at 10M AXION tokens. Hex holders will also be auto-locked for a year, with 2% releasing weekly. More details can be found in the whitepaper. If Hex holders do not claim their AXION tokens, they will become available for purchase in the Daily Auction every week.
The Daily Auction
Putting Tokens and Value into your pocket.
To get Axion, it needs to be claimed by Hex & Hex2T holders, the longer they wait to claim, the more penalties they face. About 2% of their total per week. This 2% is added into a daily auction pool where people can bid using ETH on the Axion tokens within it. If you bid 10% of the ETH on that day, you get 10% of the pool rewards. 80% of the ETH paid in the auction is then used to hyperdrive both the Axion token and the stakers earnings. First, the ETH is used to purchase the tokens, boosting the token price, and then those tokens are distributed to stakers, creating a very strong positive feedback loop.
Axion is on the path to becoming the ideal global currency.
For the first time in history, inflation is increasing the purchasing power of the people within the network. Axion has partnerships lined up to be integrated in online and in-person payment solutions, where you can pay for nearly everything in your every-day life using Axion. The merchants can accept FIAT (converted from Axion), or Axion itself. This is a global movement.
Axion: Built to Scale
500 Billion Initial Total Supply 1:1 Freeclaim ratio for Hex2T and Hex holders 80% of ETH Earned in auctions is used to buy back tokens 8% Annual inflation that goes Directly to stakers 100% of all purchased tokens Are distributed to stakers No Auto-Stake For hex2t holders 100% autostake for hex holders
How to buy:
**Video Tutorials:**Metamask Install – https://www.youtube.com/watch?v=htyEeKNHX5ABuy/Sell Axion (HEX2T) – https://www.youtube.com/watch?v=vYZBOkHIM5k How Do I Buy Axion (HEX2T)? Step One: Purchase Ethereum from your exchange of choice (Coinbase, Binance, etc). You can also purchase Ethereum through Metamask and have it sent directly to your Metamask wallet (More details on this in Step Three). If buying through Coinbase, you’ll have the option to use a linked bank account or a debit card. Funds purchased via linked bank account will have a hold period while the bank transaction clears, funds purchased via debit card will be available for use instantly. Step Two: Install the Metamask desktop browser extension and set up your Ethereum Wallet. You may also install the Metamask app on your Android smartphone and follow the same set up process in the linked video. (Apologies iOS users, the iOS Metamask app has restrictions that disable necessary features, you’ll have to use the desktop browser extension) Step Three: Once you have your Metamask wallet set up and your seed words properly saved, it’s time to deposit Ethereum to your wallet. – If you’ve purchased Ethereum on an exchange such as Coinbase or Binance, you’ll have to copy your wallet address from Metamask and withdraw the Ethereum from the exchange to your Metamask wallet address that you just copied. Be sure to check the wallet address multiple times before sending as transactions can not be reversed. – If you’d like to purchase Ethereum directly through Metamask, you can do so using the Wyre fiat gateway that is integrated into Metamask. Step Four: Now that you have Ethereum in your Metamask wallet, you can head over to our listing on the Uniswap Exchange to purchase Axion (HEX2T). We recommend using Fast GAS to speed up your transactions. You may also have to click on the gear icon in the top right on Uniswap to adjust your slippage limit when buying larger amounts. – If using the Metamask app on Android, you’ll have to access the in-app browser through the menu (three bars top left of app) and paste the provided link. – You will see a “From” input that should have ETH as the selected currency pointing to a “To (estimated)” output that should have HEX2T as the selected currency. The “From” input is the amount of Ethereum you will be spending and the “To (estimated)” output is the amount of HEX2T that you will receive for that amount of Ethereum. – Once you enter the amount of Ethereum you’d like to spend, the button at the bottom of the page should say “Approve”. This “Approve” function allows the exchange to access Ethereum in your wallet, which is necessary to complete this transaction. You’ll click the “Approve” button and the exchange will send a transaction to your wallet, which you will have to confirm. Wait for that Approve transaction to clear and once it does the button should change from “Approve” to “Swap”. – Now that you’ve given the exchange permission to use the Ethereum in your wallet, you can click the “Swap” button. This will send another transaction to your wallet that you’ll have to confirm. Once that transaction clears, you’ll have successfully purchased HEX2T with Ethereum! Side Note: If you can’t see the HEX2T that you’ve purchased in your Metamask wallet’s Asset list, you’ll have to add the token to your Asset list. At the bottom of the Asset list you will see an “Add Token” button, click on that and you’ll see a “Search” and a “Custom Token” tab. Click on the “Custom Token” tab and paste the following address (0xed1199093b1abd07a368dd1c0cdc77d8517ba2a0) into the “Custom Token Address” field, the rest of the info should auto-fill. Then click the “Next” button in the bottom right, and it should display your HEX2T balance, click the “Add Tokens” button and you should now see your HEX2T in your Asset list. **How Do I Sell Axion (HEX2T)?**To sell Axion (HEX2T), you essentially do the inverse of what you did to purchase it.Step One: Head over to Uniswap Exchange and click on ETH in the “From” input, a drop down list will appear and you’ll select HEX2T. In the “To (estimated)” output, click on “Select a Token” and select ETH. To clarify, if you want to sell, HEX2T should be on top, ETH should be on bottom. Step Two: Enter the amount of HEX2T you’d like to sell in the “From” input, the button at the bottom of the page should say “Approve”. This “Approve” function allows the exchange to access HEX2T in your wallet, which is necessary to complete this transaction. You’ll click the “Approve” button and the exchange will send a transaction to your wallet, which you will have to confirm. Wait for that Approve transaction to clear and once it does the button should change from “Approve” to “Swap”. – Now that you’ve given the exchange permission to use the HEX2T in your wallet, you can click the “Swap” button. This will send another transaction to your wallet that you’ll have to confirm. Once that transaction clears, you’ll have successfully sold HEX2T for Ethereum! If at any point you feel that you need help in this process, please do not hesitate to join our fast growingDiscordorTelegram.Once you’re in either of those communities you’ll be able to ask an admin or moderator for assistance.
Their legal proposal is 95% complete, per their Discord announcement - and most likely be finished in the coming days.
Lost trading history and sloppy record keeping of BTC and crypto for tax
First of all, sorry for the long post. I am in a bit of a pickle and it is a rather long and complex problem and I want end of it so I can continue to sleep at night. I have only just heard about the laws that crypto-crypto trades are a taxable event as coinbase emailed me saying they are handing over my account trade history to the taxman I am starting to question how the hell I have ended up with my BTC holdings, and if I need to pay them (because I really want to stay out of trouble). I have been very sloppy and stupid with record keeping over the years and I am now paying the price, but I believe I never exceeded the 12K CGA profit so I never submitted a tax return. I am really struggling to understand what I paid for each partial part of my entire portfolio ? I am particularly struggling to match transactions in a cost basis related way for example, what I paid for the particular BTC that eventually hit the exchange, and was 'diposed of', cost basis terms. Given I have thousands of transactions on around 5 different exchanges and physical brokers, some I have no longer access to. I bought physical BTC straight to my cold storage paper wallets and also into exchanges, conducting lots of complex movement processes, in and out my paper wallet and exchanges. I have now lost details of that paper wallet and I traded altcoins from bitcoins back and forth mainly making losses and some gains along the way. I had the likes of NEO, EOS to name a few from binance to desktop wallets and paper wallets. I later down the line then decided I wanted a fresh start after the brutal bear market and keep all my funds safe on a ledger in BTC for simplicity. I converted all my altcoins into BTC, sold for a massive loss and shifted it onto my ledger. After that I have just been DCA into my ledger and doing a little bit of trading, making some loss and some gain. I have probably racked up around 2000 complex transactions from brokers and exchanges, trading with different altcoins, some without knowing or able to accurately prove how much I paid for them at that particular timeframe. All I certainly know is the X amount I have totally put into BTC. Its a clusterfuck of transactions and I have no clue what I could prove or disprove if a legal event were to occur. I really hate how they introduced crypto-crypto transactions being a taxable event, if I knew this from the outset, I would have never touched altcoins and just stuck to sitting on bitcoin and doing some simple trading here and there. I want a fresh start and I want to pay what I owe if I do owe anything. What worries me is if I cannot prove the price I paid on average from my crypto, how will I know how much CGT to declare if I come to sell? All I know is how much money I have invested and how much crypto I have sitting on my ledger and exchanges. I have looked into using software but there will be massive gaps from the phyiscal BTC I bought, and the exchanges I no longer have access to, so how would I go about accurately calculating all of this? I am lost and completely frozen as to where to start here, and I would really appreciate some guidance. TL;DR Lost access to trade history, lots of transactions in and out cold storage, paper wallets, conversions to altcoins, moving said altcoins to offline wallets and desktop wallets, moving back in to sell, move to ledger, move some funds to exhanges for trading small amounts. How do I calculate this??
I'm kinda ok with MCO -> CRO Swap; a indepth personal view
EDIT: this post https://www.reddit.com/Crypto_com/comments/i2yhuz/open_letter_to_kris_from_one_of_cdcs_biggest/ from u/CryptoMines expresses my sentiments and concerns better than I could ever put into words myself. I'd say read his/her post instead. Very long post ahead, but TL;DR, I actually see this swap as a positive change, despite fearing for what it may do to my portofolio, and having mixed feelings about its consequences on CDC reputation.Before I start, for the sake of context and bias, here's my personal situation as a CDC user:
I'm just a average Joe, with a 500 MCO Jade card. I bough 50 MCO at 5,22€ in September 2019 and staked for Ruby, then bough 440 MCO at 2.47€ in March 2020 and upgraded to Jade. The total amount of MCO I own is currently 515, and everything above the 500 stake is cashback rewards.
I bought MCO exclusively for the card and bonus Earn interest benefits, and had no plans to unstake my MCO. Now with the swap, definetly won't unstake.
The MCO -> CRO conversion rates increased the fiat value of my MCO in about 1000€.
I own a decent amount of CRO, wich I bought at ~0,031€ in March 2020.
The country where I live is crypto friendly and completely crypto-tax free; I only have to pay income tax if I deposit a certain threshold of fiat in my bank.
Take all these factors into account as possible (if not major) influencers or bias on my opinions; both the emotional and economical ones. Call me a fool or a devil's advocate if you want, but keep your torches and pitchforks down. As we say here on Reddit: "Remember the human".----------------------------------------------------------------------------------------------------------------------------------------------------- Like all of you, I woke up to find this anouncement, wich came right the #[email protected] out of nowere, and gives you little to no options. Good or bad, this announcement arrived as basicly a "comply or die" choice. Emotionally, this came as both terrifying and disgusting; but rationally, I cannot blame CDC for it. Because wether we like it or not, CDC is a centralized company, and the MCO tokens were never a stock or legally binding contract; something wich pretty much every crypto company or ICO warns in their T&C and risk warnings. Not to mention the mostly unregulated status of the cryptocurrency and. I'll call this "dishonest" any day, but I cannot see it as a "scammy" since I can't see how they broke any rules or terms. A scammer would take your money/assets away, but CDC is offering you to swap it for another asset wich you can sell right away if you want. And at current price, it is still worth more or less as much fiat as MCO cost at the 5 $/€ wich was more or less the comunity standard used for calculating the card prices. And by that, I mean that the fiat value of 50/500/5000 MCO (as CRO) is actually not far from the 250/2500/25'000 $/€ that the comunity commonly used as standard when calculating the ROI and (under)valuation of MCO. So CDC is at least trying to give us the option to get (some) our money back, and not at a unfair rate. If you happened to buy MCO at a price higher than this, I can't see how that's CDC's fault, just as I don't see anyone blaming Bitcoin or Altcoins for getting them stuck at the top of the 2017 bubble burst. I read many posts in this reddit calling this a "backstab" and "betrayal" of early investors and for the people who "believed in MCO". Emotionally, I share your sentiment.But after thinking it for a while, I'd say this was actually very rewarding for early investors and long term MCO supporters. As CDC clearly sates in the swap rules; nobody is going to lose their card tier or MCO stake benefits (at least not yet), and your stake DOES NOT unstake automatically after 180 days. Actually, so far they never did unstake automatically, you had to manually unstake yourself. With this in mind, everyone who already got their cards, or at least staked MCO to reserve one, basicly got them 3-5 times cheaper than future users; and IMHO, now the $/€ price of cards feels more fair and sustainable compared to their benefits.So in a sense, everyone who supported and believed on the MCO for its utility (i.e. the card and app benefits) has been greatly rewarded with perks that they get to keep, but are now out of reach for a lot of people.Likewise, the people who believed and invested in CRO (for whatever reason), have also been rewarded, as their CRO tokens now have more utility. So either the price of CRO crashes down to around 0.05 $/€, or the people who bought MCO/CRO early or cheap are now massively benefited. But then again, so is everyone who bought or mined Bitcoin in its early days, or invested in Bitcoin at crucial points of its history... how is that unfair? Some people bought Ethereum at 1'400 $ on a mix of hopes/promises that it would continue to rise; it didn't. And even today with DeFi and ETH 2.0 ever closer, it is still far from that price. And I know what some of you are thinking: "The cards aren't avaiable in my country yet, that's why I didn't buy/stake."Well, they weren't avaiable in my country either when I staked 50 MCO. Heck, the cards weren't avaiable in anyones country when MCO started, but many people still bought it and staked it. That's exacly what "early adopter", "long supporter" and "believing in MCO" means. On the other hand, the people who invested on MCO as a speculative asset and decided to HODL and hoard MCO, hoping for its price to moon and then sell MCO at big profit, had their dreams mercilessly crushed by this swap... and good lord, I feel their pain.But this is also where I'll commit the sin of being judgemental, because IMHO, speculating on MCO never made any sense to me; MCO was a utility token, not a value token, so it should not (and could not) ever be worth more than the value of its utility. That's basicly how stablecoins and PAXG are able to stay stable; because nobody will pay more/less than the value of the asset/service they represent. Tough now that I'm looking at the new card stake tiers in CRO, I have to give credit to the MCO hodlers I just now criticised; maybe you were right all along. Unless the price of CRO crashes or corrects, I wich case, I un-rest my case. One thing I'll agree with everyone tough, is that I fell that CDC just suckerpunched it's comunity. Because even if we have no vote on its decisions (wich again, we aren't necessarily entitled to, since they are a privante and centralized business) they should/could have warned that this was in their plans well in advance; if anything to allow those who wouldn't like it to exit this train calmly. Also the CRO stake duration reset. The mandatory reset of your CRO stake for taking advantage of the early swap bonus feels like another gut-punch. ----------------------------------------------------------------------------------------------------------------------------------------------------- Now that we got emotional feelings out of the way, here's my sentiment about how this will affect the overall CDC ecossystem. One common criticism of the sustainability of MCO was that its supply cap could never allow a large number of cards to be issued, and how could CDC keep paying the cashbacks and rebates. On the oposite corner, one of the major criticisms of the sustainability of CRO, was it's ridiculously huge supply cap and inflation caused by the gradual un-freezing and release of more CRO into the system. But now that MCO and CRO became one, it might just have made both issues more sustainable. Now the huge supply cap of CRO makes more sense, as it allows a much larger number of future users to stake for cards (at higher costs, but still). And because most card cashback is small parcels, this large supply also ensures that CDC can keep paying said cashbacks for a long time; especially since it can be semi-renewable trough the trading fees we pay in CRO. Before this, the MCO you got as cashback had no use, other than selling it for fiat or speculate on its price. But CRO can be used, at the very least, to receive a discount on trading fees. And everytime you pay trading fees in CRO or spend CRO on a Syndicate event, some of that CRO goes back to CDC, wich they can use to keep paying the cahsback/rebates. And keep in mind, the technicalities of CRO can be changed, as well as the perks and utilities it can be used for. So even if this current model doesn't fix everything (wich it probably doesn't) it can still be changed to patch problems or expand its use. Another obvious potentially positive outcome of this, is that now CDC only has to focus on 1 token, so it makes it easier to manage and drive its value. People complained that CDC was neglecting MCO over promoting CRO, but now they can focus on both services (cards/exchange) at the same time. Sure, this might not bring much advantage to the common customer, but its probably a major resource saver and optimizer at corporate levels; wich in the long term ultimately benefits its customers. Much like Ethereum is undergoing major changes to ensure its scalability, the crypto companies themselves also have to change to acommodate the growing number of users, especially as the cryptomarket and DeFi are growing and becoming more competitive. Business strategies that were once successfull became obsolete, and exchanges that once held near-monopolies had to adjust to rising competitors. There is no reason why CDC shouldn't keep up with this, or at least try to. Point is, the financial markets, crypto or otherwise, are not a status quo haven. And when something is wrong, something has to be changed, even if it costs. The very rise of cryptocurrencies and blockchain, wich is why we are here in the first place, is a perfect example of this, as it experiments and provides alternatives to legacy/traditional products and technologies. Was this the best solution to its current problems? Is this what will protect us as customers from a potentially unsustainable business model? I have no idea. This change ripped me too from my previous more or less relaxed status quo (the safety of the value of the CRO I bough for cheap), along with CRO late investors wich now probably fear for the devaluation of their CRO. To say nothing of the blow this represents for my trust (and I believe everyone elses trust) on CDC and its public relations. It's not what CDC did, it's how they did it. ------------------------------------------------------------------------------------------------------------------------------------------------ Wether you actually bothered to read all I wrote or just skip everything (can't blame you), I'm eager to hear your opinions and whatever criticisms on my opinions you may have. If you just want to vent at me, you are welcome too; now you can raise your pitchforks and torches.
Wall Street Breakfast: Volatile Week Ends In Quad Witching Session
U.S. equity futures held up overnight following another selloff on Wall Street that was led by major tech names. Contracts tied to the Dow and S&P 500 are hugging the flatline, while Nasdaq futures pared recent losses by climbing 0.6%. Mixed messaging around a potential coronavirus vaccine, as well as the passage of further fiscal stimulus, weighed on the market, while investors are gearing up for consumer sentiment data set for release at 10 a.m. ET. Don't forget that it's also quad witching day, which refers to the simultaneous expiration of market index futures, stock futures, market index options and stock options. "These days tend to get a lot of press for all of the volume they create, but historically they are nearly always a non-event," said Ryan Detrick, senior market strategist at LPL Financial. Spending deal to avoid government shutdown While there may be disagreement over another round of coronavirus relief, lawmakers are aiming to unveil a bipartisan spending bill today to avert a government shutdown on Oct. 1. The "clean" legislation, largely devoid of any controversial measures, should keep the government funded into mid-December. "I don't think anybody wants to be responsible for shutting down the government on the eve of an election in the middle of a pandemic, so it's a rare outbreak of common sense on both sides," said Rep. Tom Cole (R., Okla.), a senior member of the House Appropriations Committee. New round of farm aid "Starting next week my administration is committing an additional $13B in relief to help farmers recover from the China virus," President Trump announced a campaign rally in Mosinee, Wisconsin. The new aid is the second tranche of money issued as part of the Trump administration's Coronavirus Food Assistance Program. In April, the administration unveiled $19B in relief for the agriculture sector under the CARES Act, including $16B in direct payments to farmers and ranchers and $3B in mass purchases of dairy, meat and produce. Fed mulls extension of bank dividend curbs Due to heightened economic uncertainty, the Federal Reserve is considering extending its caps on banks' dividends and stock repurchases for the rest of the year. The U.S. central bank made the announcement along with its release of hypothetical scenarios for the second round of stress tests that it's requiring due to the COVID-19 pandemic. Unlike an earlier round of stress tests this year, the Fed will release the results of the tests for each of the 33 lenders, rather than providing aggregate results for the group. Sub-zero rates The Bank of England held its benchmark policy rate at 0.1% on Thursday, but indicated it could cut interest rates below zero for the first time in its 326-year history. While recent domestic economic data has been a bit stronger than expected, it's "unclear how the economy will perform further out," according to the Monetary Policy Committee. Another major risk facing the U.K. economy relates to the post-Brexit trade discussions between the U.K. and the EU, which have recently soured. Terms of a TikTok deal The Trump administration spent Thursday reviewing proposals on the TikTok-Oracle (NYSE:ORCL) partnership, which currently has many moving parts. TikTok owner ByteDance (BDNCE) agreed to list the video-sharing app on a U.S. stock exchange, which could happen within a year, though there are still concerns over whether the Chinese parent would be allowed to retain a majority stake in the new company. Meanwhile, shares in China's Tencent (OTCPK:TCEHY) tumbled into the U.S. closing bell following reports that its investments are drawing new national security attention. Exchange dealmaking Seeing off competing bids from Deutsche Borse (OTCPK:DBORY) and Switzerland's SIX, the London Stock Exchange (OTCPK:LNSTY) is in exclusive talks to sell Borsa Italiana to France's Euronext (OTCPK:EUXTF). Offloading the Milan stock exchange would help LSE achieve regulatory remedies for its $27B purchase of data provider Refinitiv, which is owned by Blackstone (NYSE:BX) and Thomson Reuters (NYSE:TRI). The deal is politically sensitive in Rome because of concerns about who could take control of Borsa Italiana's bond platform, which handles trading of Italy's government debt. New COVID-19 restrictions across Europe Targeted lockdowns and local restrictions are returning to Europe as the region tries to avoid broad economic damage amid a surge in coronavirus cases. "Weekly cases have now exceeded those reported when the pandemic first peaked in Europe in March," the WHO's regional director for Europe Hans Kluge told an online news conference. "Although these numbers reflect more comprehensive testing, it also shows alarming rates of transmission across the region." Pubs and restaurants must shut early and household mixing has been limited in northeast England, while social gatherings of more than six people have been banned across the country. French authorities are meanwhile preparing tighter restrictions in several cities, while Spain's Madrid has moved to "reduce mobility and contacts" in areas with high infection rates. Go Deeper: Israel becomes first developed country to enforce a second nationwide shutdown. Pandemic closures see restaurants hit the hardest About 60% of businesses that have closed their doors during the coronavirus pandemic will never reopen, and restaurants have suffered the most, according to new data from Yelp. The National Restaurant Association also said this week that 100,000 restaurants have closed either permanently or long term, adding that the sector is on track to lose $240B in sales this year. A number of factors have made it especially difficult for eateries, which tend to operate on thin margins even in the best of times. What else is happening... Unity (NYSE:U) to raise $1.3B in IPO, prices 25M shares above range. New York files civil charges against J&J (NYSE:JNJ) over opioids. Walmart (NYSE:WMT) hikes pay for about 165,000 hourly employees. Dave & Buster's (NASDAQ:PLAY) stumbles on bankruptcy speculation. Proposed Boeing (NYSE:BA) 737 MAX safety upgrades endorsed by NTSB. Nat gas tumbles by most in two years after stockpile gain. Today's Markets In Asia, Japan +0.2%. Hong Kong +0.5%. China +2.1%. India -0.3%. In Europe, at midday, London -0.2%. Paris -0.3%. Frankfurt +0.1%. Futures at 6:20, Dow flat. S&P flat. Nasdaq +0.6%. Crude +0.9% to $41.34. Gold +0.6% to $1961.40. Bitcoin +1.6% to $11005. Ten-year Treasury Yield flat at 0.68%
Over the past decade, cryptocurrency has become a breaker of old approaches in monetary policy, finance, economics, and e-commerce. The speed at which the crypto industry is growing today is very impressive. The global cryptocurrency market volume is predicted to reach $1,758 million by 2027 with a compound annual growth rate of 11.2%. by StealthEX More and more people are getting faced with the digital currency so the questions on the future of cryptocurrencies are becoming especially relevant today. So what is the future of cryptocurrency? In this article, we’ll try to figure this out. Predicting the crypto world’s future is impossible without knowing the current situation on the cryptocurrencies market.
What trends can we observe today?
• Nowadays the crypto market is in its formation stage. We can see an increase in the number of areas where blockchain technology is getting involved. The COVID19 and panic that it caused in the markets are also accelerating cryptocurrency adoption. • Any cryptocurrencies rate is rigidly tied to the situation in the crypto market. • Bitcoin and Ethereum are the biggest influencers in the cryptocurrency market. • Investors are paying attention to the crypto projects that are aimed to create platforms for launching decentralized applications (dApps). • Significant growth of decentralized finance (DeFi). • Decentralized Internet (Web 3.0) is actively increasing and creating the basis for the Internet of Things development. The growth of digital currencies around the world allows making some predictions about the future of crypto market. Let’s look ahead to the future and try to forecast the prospective trends in the crypto world development.
Bitcoin’s reign will not end
The first thing that worries many crypto holders is “What will happen to Bitcoin”? The ups and downs of Bitcoin’s rate, rumors about the next hard fork, legalization in some countries, and prohibition in others — all these kinds of news makes people guess what will come up with the most popular coin. Experts have different opinions from a complete drop in price to the status of the only currency in the world. Most experts are leaning towards that Bitcoin will maintain its current positions and even strengthen them. For example, John McAfee, businessman and computer programmer, says: “You can’t stop things like Bitcoin. It’s like trying to stop gunpowder.” He also made a bet that if Bitcoin will not cost $500,000 by the end of December 2020 he will eat his own…well, you know. James Altucher, American hedge-fund manager, author, podcaster and entrepreneur, is not sure that BTC price will reach 1 000 000 USD: “Will it be a million dollars in 2020? Maybe. Will it be 2021? 2022? Who knows.” He also predicted that: “At least one country’s currency is likely to fail soon — likely Argentina or Venezuela. This will lead to mass adoption of Bitcoin among that populace. That will in turn lead to Bitcoin rising by more than $50,000 when it happens.” And just a few days after this forecast, the Venezuelan President announced that they are planning to release national crypto called El Petro. Right now a lot of countries like China, Tunisia, Senegal, Sweden, Singapore, Uruguay, Thailand, Turkey, and Iran are also working on the creation of national cryptocurrency. So what will happen to Bitcoin? No one knows. The only thing in which many experts agree is that Bitcoin will stay as a “gold standard” in the crypto world for a long time.
Cryptocurrencies will be mainstream
“Cryptocurrencies is a fashionable investment and a sign of belonging to the special community” — this idea is actively promoted by various sports organizations, popular performers, public figures that release their own altcoins. According to CoinMarketCap, there are already more than six thousand cryptocurrencies, and their total capitalization is $353 billion. A couple of years ago, the digital currency was almost unknown to anyone except geek developers and crypto enthusiasts. However, things are changing: prospects for businesses, rising prices, and strong community support will step by step make cryptocurrencies mainstream around the world.
Market volatility will not disappear
Cryptocurrencies are unstable by their nature, and their volatility is one of the reasons why someone becomes a millionaire and the others lose fortunes. The strong volatility of crypto is caused by the fact that they are still at an early stage of development. Cryptocurrencies have huge growth potential if they can enter the mass market. But every news about cryptocurrencies either hints at the possibility of markets going down or rising up. The volatility in the cryptocurrency markets will continue to be felt as the news affects the market, and it is only at the stage of rapid development.
The future of trading — decentralized exchanges
In the near future, we will see a prime of decentralized exchanges. Many believe that DEXes is not yet ready for mass adoption. But there are factors for a favorable development of events. First of all, centralized exchanges don’t fit the purpose of cryptocurrencies cause the key advantage of digital coins is decentralization. In decentralized exchanges, transactions can be made directly between users (peer-to-peer) without the need for a trusted intermediary, which means there are no transaction fees for users. On top of this, decentralized exchanges are much more secure against hackers as there no single point of failure like in centralized exchanges. Everyone knows the cases with Mt.Gox, Bitfinex, Coincheck when people lost millions and millions. The need for more security will lead users to decentralized exchanges.
The rise of crypto loans
“Cryptocurrency is convenient to take on credit” — not long ago this idea seemed like a wild ride since the digital currency has high volatility. But today the popularity of lending in digital currencies is increasing and here are the main reasons: • Low-interest rates. • Increase in the number of traders and investors for whom receiving funds immediately in cryptocurrencies is convenient. • A simplified system of requirements for borrowers, those who hadn’t been approved for bank loans could easily receive digital money. Nowadays, the entire crypto loaning industry is estimated at $4.7 billion and the number of crypto loan platforms will continue growing.
Regulators gonna regulate
In the early days of cryptocurrencies history, traditional financial institutions sharply criticized crypto enthusiasts. The crypto market, however, has proven that it is sturdy against these kinds of attacks. Nowadays traditional institutions’ opinion regarding cryptocurrency is changing. In the future, stakeholders can have an increase in the flow of funds from Wall Street to cryptocurrencies. There is no doubt that this will require more transparency and regulation in the crypto market. Today government and regulatory agencies around the world, including the U.S. Securities and Exchange Commission, Federal Bureau of Investigation, United States Department of Homeland Security, and the Financial Crimes Enforcement Network (and this is only within the US borders) are giving more and more attention to cryptocurrencies. The regulation of the crypto in different states is realizing in diverse ways: in some countries, it is legally recognized as a means of payment, in others its use is prohibited. The G20 summit participants, following the discussions on cryptocurrencies, came to the conclusion that a complete prohibition of crypto will not solve anything as nowadays the digital currency plays a significant role in the economy. And if the digital currency cannot be prohibited, it must be regulated: “Technological innovations can deliver significant benefits to the financial system and the broader economy. While crypto-assets do not pose a threat to global financial stability at this point, we are closely monitoring developments and remain vigilant to existing and emerging risks.” As we can see the world is changing very quickly. The speed with which cryptocurrencies are integrating into the global financial system is a clear indicator that traditional financial institutions can no longer have a monopoly on the management of financial flows. The year 2020 is the start of a new decade for the cryptocurrency industry. The next ten years will bring us key changes in traditional finance when blockchain and cryptocurrencies will become a daily thing in most countries of the world. What are your thoughts on the future of cryptocurrencies? Tell us your ideas in the comments below. And remember if you need to exchange your coins StealthEX is here for you. We provide a selection of more than 250 coins and constantly updating the list so that our customers will find a suitable option. Our service does not require registration and allows you to remain anonymous. Why don’t you check it out? Just go to StealthEX and follow these easy steps: ✔ Choose the pair and the amount for your exchange. For example BTC to ETH. ✔ Press the “Start exchange” button. ✔ Provide the recipient address to which the coins will be transferred. ✔ Move your cryptocurrency for the exchange. ✔ Receive your coins. Follow us on Medium, Twitter, Facebook, and Reddit to get StealthEX.io updates and the latest news about the crypto world. For all requests message us via [email protected]. The views and opinions expressed here are solely those of the author. Every investment and trading move involves risk. You should conduct your own research when making a decision. Original article was posted onhttps://stealthex.io/blog/2020/09/15/is-cryptocurrency-really-the-future/
Cryptocurrencies in the Era of COVID-19 (Part One)
https://preview.redd.it/cscwryttr4o51.jpg?width=2560&format=pjpg&auto=webp&s=ddd90997810c0cc46cf8e6b5cac534cd8f9c796f To speak of “post-COVID” is not only premature, but perpetuates the myth that the mere passage of time will lead to some kind of universal recovery. The reality is rather more harsh. Currently, the only positive dynamic at work is that the patient will learn to cope with the symptoms of a congenital condition, until, and if, the underlying problem can be resolved. While we would prefer otherwise, this is the Era of COVID. The opening up of Europe’s Mediterranean tourist industry in the summer of 2020 was always going to increase the rate of COVID transmission, but the experiment was justified in terms of local economic dependency on foreign visitors vis-a-vis the health costs, the degree of disease impact, and overly testing the limits of voluntary social distancing. From the perspective of the pathogen, however, absolutely nothing has changed. In terms of global polity, economic policy and social welfare, everything has changed, is changing, and may well end up creating scenarios out of all recognition. Critical to appreciating the “why?” of this reorientation is the recognition that only a raft of temporary, but wholly unsustainable macroeconomic policies, have kept the global economy functioning. The problem, however, is that it is a bit like cheating a wise man. You only get away with it once. Thereafter you have to accept realities and manage how they play out as best as you can. Central to the latter is the fact that until a vaccine is developed, ours is the era of socio-economic COVID-19 management. All other determinations derive from where they stand in regards this polarity; the spread of the disease on the one part and the damage done to the global economy on the other. The balance between lives and livelihoods. In reality the two are not finally distinct. The acceptance of higher COVID-19 infection will have economic costs both over the short and long term. The worry is that these could be far, far greater than many currently anticipate. Critically, that those people with mild or no symptoms today, could develop significant health problems in their tens of millions as they get older. That the virus lays dormant at a cellular level but surfaces to cause physical problems in the future, negatively impacting the functioning of vital organs, including the brain. As this happens the economic costs will become significant. To restate. Temporary economic measures funded by quantitative easing have allowed the global economy to maintain a degree of normalcy, but over time these will inevitably weaken the economy they were designed to protect. In similitude, the temporary relief of putting short term spending needs on the credit card eventually crashes into the wall of maximised indebtedness. The consequence is either the hardship of paying back what has been borrowed, or simply walking away from the debt and being cut off from credit thereafter. The last time the global economy faced anything like this level of catastrophic dialectic was after the two world wars. For the people of Germany and France coins and banknotes were minted with ever greater number of zeros, but ever reduced buying power. In the end these currencies were simply abandoned—replaced with the Reichsmark and nouveau franc respectively. The former at a rate of one trillion (sic) to one! Stability resulted, but it must be underscored, because the printing presses were turned off. The trick was to introduce a medium of exchange whose physical number was very tightly defined and limited. As long as the temptation to cheat when you run out of money is resisted, all will be well. All this may prefigure a nouveau dollar, digital yuan or an altogether different scenario may unfold. This is where the current locus of speculation—financial and theoretical— currently lies. Any considerations in these respects needs to take into account the following factors as delimiting the parameters of probable outcomes:
Structural shifts in global economic activity away from travel, leisure, tourism, some automotive and manufacturing towards health, security, robotics, datacom and a range of advanced technologies. This not only portends shifts in investment between sectors, but more graphically, shifts in wealth between regions and nations.
Growing tensions within the European Union. With many of the southern states so highly dependent on tourism, significantly declining income will further exacerbate the north-south wealth gap, and thus tensions over budgetary redistribution.
Structural shifts in global geo-politics and trade away from multilateralism towards bilateralism, supply chain security, high-tech protectionism and hegemonic alliances.
A new era of Western statism necessary to reduce the threat of a severe economic depression. This will be directed to enhanced infrastructure projects, support for advanced, green and digital technologies, new strategies on preventative and remote health care, and internal security and surveillance.
Social acceptance of greater government intrusion and regulation as the price of minimising the impact of COVID, future pandemic threats and economic downturn.
More important than any of these are the underlying shift towards new orthodoxies at the expense of tearing up the old order. This not only includes the fundamentals of government macroeconomic theory (and thus policy) but the rules underpinning all commercial and currency infrastructures. “Fundamental” because the three are inextricably linked, yet autonomous enough for one to affect the other with a potential impact so dramatic it is difficult to overstate. These paradigms are so new, and their final impact so remote, that the most significant element of their existence is easily missed: A year ago such a narrative would have been viewed as sheer lunacy. A year from now so obvious as to merit an historical footnote. Emerging from the rabbit hole everything will be different. Everything is up in the air and everyone is scrambling to find an anchor. In the meanwhile, popular investment ethos is myopic, entirely oblivious to the undercurrents which will mark the end of the status quo. Somewhere along the line, a soaring Stockmarket has become an end in itself. Wealth, the mere addition of fiat zeros. The intention of the original cryptocurrency was to sidestep this fallacy. To extricate and preserve real wealth from constantly shifting foundations. Like all ideals, it has been imperfectly realised. No one can deny that the meteoric rise in Bitcoins’ value from $327 to almost $12,000 (at the time of writing) reflects some degree of speculation, but it also reflects substantive, intelligibly based doubts as to the fundamentals sustaining fiat currencies. They may still exist in five or ten years, but what will they tangibly be worth? Eventual outcomes here—including which cryptocurrencies prove their worth —will be determined by our collective actions. History reveals that whatever divergences take place, in the end the solid and substantial always win out. Lies are exposed and tyranny eventually falls. Shaky assets yield to solid. Bad money drives good to a premium. (Subsequent additions to this article will examine critical factors determining the path of cryptocurrency evolution in the era of COVID as these arise, including government regulations).
What was Bitcoin's value over the last several years on October 1st? In 2012 it was super low at $11 USD, with the first halving only 2 months away. In 2013 it was at $127 and the Cyprus banking crisis hit the financial markets. Also, during 2013 was the first time Bitcoin passed the price of gold for a brief moment. In 2014 it was valued at $387. By the end of the year it was given the title by The Guardian as the worst investment of the year. Mt.Gox exchange had failed and Ethereum did its ICO (Initial Coin Offering) and the silk road website was taken down. Tim Draper bought a good chunk of Bitcoins at auction and was predicting it to go to $10,000. In 2015 it was lower at $238 but in 2016 the price was at $614 with the second halving having happened. During 2017 it reached a lofty $4404. 2017 also was when ICOs became popular with a few blockchain projects raising over $200 million. In 2018 Bitcoin was at $6601 and the ICO frenzy died. During 2019 it was $8334 and some exchanges continued to get hacked. Bakt opens futures trading and bitcoiners are talking about the third halving in 2020. And so today bitcoin is valued at about $10,600. Most of those years saw massive changes up and down in value. For example, in 2013, there was a massive rise of 10,250% from $12 to $961 but in 2014 it dropped 52%. If you look at Bitcoin valuations from the October 1st lens it seems like a great time to buy especially after a halving. We continue to see Bitcoin as the number one crypto for a portfolio even though almost every week we see another new cryptocurrency pop up. Some of them even hit the top 10 on Coinmarketcap very quickly. For example, UNI (Uniswap) is up over 2700% on Binance since it was listed on Sept.17, 2020. But history shows that most altcoins over the long term are not very successful. Be careful of FOMO but happy investing, From the Madbyte Team. -- In summary, Bitcoin, on October 1st was: 2020 - $10600 2019 - $8334 2018 - $6601 2017 - $4404 2016 - $614 2015 - $238 2014 - $387 2013 - $127 2012 - $11
When we were a much smaller society, people could trade in the community pretty easily, but as the distance in our trade grew, we ended up inventing institutions such as banks, markets, stocks etc. that help us to conduct financial transactions. The currencies we are operating with nowadays are bills or coins, controlled by a centralized authority and tracked by previously mentioned financial institutions. The thing is, having a third party in our money transactions is not always what we wish for. But fortunately, today we have a tool that allows us to make fast and save financial transactions without any middlemen, it has no central authority and it is regulated by math. Sounds cool, right? Cryptocurrency is this tool. It is quite a peculiar system, so let’s take a closer look at it. by StealthEX
Layers of a crypto-cake
Layer 1: Blockchain
First of all – any cryptocurrency is based on the blockchain. In simple words, blockchain is a kind of a database. It stores information in batches, called blocks that are linked together in a chronological way. As the blockchain is not located in one place but rather on thousands of computers around the globe, the blockchain and the transactions thus are decentralized, they have no head center. The newest blocks of transaction are continuously added on (or changed) to all the previous blocks. That’s how you get a cryptocurrency blockchain. The technology’s name is a compound of the words “block” and “chain”, as the “blocks” of information are linked together in a “chain”. That’s how crypto security works – the information in the recently created block depends on the previous one. It means that no block can be changed without affecting the others, this system prevents a blockchain from being hacked. There are 2 kinds of blockchain: private and public. Public, as goes by its name, is publicly available blockchain, whereas private blockchain is permissioned, which only a limited number of people have access to.
Layer 2: Transaction
In fact, everything begins with the intention of someone to complete a transaction. A transaction itself is a file that consists of the sender’s and recipient’s public keys (wallet addresses) and the amount of coins transferred. The sender begins by logging in into his cryptocurrency wallet with the private key – a unique combination of letters and numbers, something you would call a personal password in a bank. Now the transaction is signed and the first step which is called basic public key cryptography is completed. Then the signed (encrypted) transaction is shared with everyone in the cryptocurrency network, meaning it gets to every other peer. We should mention that the transaction is firstly queued up to be added to the public ledger. Then, when it’s broadcasted to the public ledger, all the computers add a new transaction to a shared list of recent transactions, known as blocks. Having a ledger forces everyone to “play fair” and reduce the risk of spending extra. The numbers of transactions are publicly available, but the information about senders and receivers is encrypted. Each transaction holds on to a unique set of keys. Whoever owns a set of keys, owns the amount of cryptocurrency associated with those keys (just like whoever owns a bank account owns the money in it). This is how peer-to-peer technology works.
Layer 3: Mining
Now let’s talk about mining. Once confirmed, the transaction is forever captured into the blockchain history**.** The verification of the block is done by Cryptocurrency Miners – they verify and then add blocks to the public ledger. To verify them, miners go down on the road of solving a very difficult math puzzle using powerful software, which is that the computer needs to produce the correct sequence number – “hash” – that is specific to the given block, there is not much chance of finding it. Whoever solves the puzzle first, gets the opportunity to officially add a block of transactions to the ledger and get fresh and new coins as reward. The reward is given in whatever cryptocurrency’s blockchain miners are operating into. For example, BTC originally used to reward miners in 50 BTC, but after the first halving it decreased to 25 BTC, and at present time it is 6.25 BTC. The process of miners competing against each other in order to complete the transactions on the network and get rewarded is known as the Proof-of-Work (PoW) algorithm, which is natural for BTC and many other cryptocurrencies. Also there are another consensus mechanisms: Proof-of-Stake (PoS), Delegated Proof-of-Stake (dPoS), Proof-of-Authority (PoA), Byzantine Fault Tolerance (BFT), Practical Byzantine Fault Tolerance (pBFT), Federated Byzantine Agreement (FBA) and Delegated Byzantine Fault Tolerance (dBFT). Still, all of them are used to facilitate an agreement between network participants. The way that system works – when many computers try to verify a block – guarantees that no computer is going to monopolize a cryptocurrency market. To ensure the competition stays fair, the puzzle becomes harder as more computers join in. Summing it up, let’s say that mining is responsible for two aspects of the crypto mechanism: producing the proof and allowing more coins to enter circulation.
Types of cryptocurrency
In the virtual currency world there are a bunch of different cryptocurrency types with their own distinctive features. The first cryptocurrency is, of course, Bitcoin. Bitcoin is the first crypto coin ever created and used. BTC is the most liquid cryptocurrency in the market and has the highest market cap among all the cryptocurrencies.
The term ‘altcoins’ means ‘alternatives’ of Bitcoin. The first altcoin Namecoin was created in 2011 and later on hundreds of them appeared in crypto-world, among them are Ravencoin, Dogecoin, Litecoin, Syscoin etc. Altcoins were initially launched with a purpose to overcome Bitcoin’s weak points and become upgraded substitutes of Bitcoin. Altcoins usually stand an independent blockchain and have their own miners and wallets. Some altcoins actually have boosted features yet none of them gained popularity akin to Bitcoin. More about altcoins in our article.
Token is a unit of account that is used to represent the digital balance of an asset. Basically tokens represent an asset or utility that usually are made on another blockchain. Tokens are registered in a database based on blockchain technology, and they are accessed through special applications using electronic signature schemes. Tokens and cryptocurrencies are not the same thing. Let’s explain it more detailed: • First of all, unlike cryptocurrencies, tokens can be issued and managed both centralized and decentralized. • The verification of the token transactions can be conducted both centralized and decentralized, when cryptocurrencies’ verification is only decentralized. • Tokens do not necessarily run their own blockchain, but for cryptocurrencies having their own blockchain is compulsory. • Tokens’ prices can be affected by a vast range of factors such as demand and supply, tokens’ additional emission, or binding to other assets. On the other hand, the price of cryptocurrencies is completely regulated by the market. Tokens can be: • Utility tokens – something that accesses a user to a product or service and support dApps built on the blockchain. • Governance tokens – fuel for voting systems executed on the blockchain. • Transactional tokens – serve as a unit of accounts and used for trading. • Security tokens – represent legal ownership of an asset, can be used in addition to or in place of a password. Tokens are usually created through smart contracts and are often adapted to an ICO – initial coin offering, which is a means of crowdfunding. It is much easier to create tokens, that is why they make a majority of coins in existence. Altcoin and token blockchains work on the concept of smart contracts or decentralized applications, where the programmable, self-executing code is ruling the transactions within a blockchain. By the way, the vast majority of tokens were distributed on the Ethereum platform.
Generally a fork occurs when a protocol code, on which the blockchain is operating, is being changed, modified and updated by developers or users. Due to the changes, the blockchain splits into 2 paths: an old way of doing things and a new way. These changes may happen because: a disagreement between users and creators; a major hack, as it was with Ethereum; developers’ decision to fix errors and add new functionality. The blockchain mainly splits into hard forks and soft forks. Shortly speaking, coin hard forks cannot work with older versions while soft forks still can work with older versions. Hard fork – after a hard fork, a new version is completely separated from the previous one, there’s no connection between them anymore, although the new version keeps the data of all the previous transactions but now on, each version will have its own transaction history. In order to use the new versions, every node has to upgrade their software. A hard fork requires majority support (or consensus) from coin holders with a connection to the coin network. If enough users don’t update then you will be unable to get a clean upgrade which could lead to a break in the blockchain. Soft fork – a protocol change, but with backward compatibility. The rules of the network have been changed, but nodes running the old software will still be able to validate transactions, but those updated nodes won’t be able to mine new blocks. So to be used and useful, soft forks require the majority of the network’s hash power. Otherwise, they risk becoming set out and anyway ending up as a hard fork.
As it comes from the name, stablecoins are price-stabilized that are becoming big in the crypto world. Still enjoying most of the “typical-cryptocurrency” benefits, it is standing out as a fixed and stable coin, not volatile at all. Stablecoins’ values are stabilized by pegging them to other assets such as the US Dollar or gold. Stablecoins include Tether (USDT), Standard (PAX), Gemini Dollar (GUSD) which are backed by the US Dollar and approved by the New York State Department of Financial Services.
Now that we hacked into cryptocurrency, you probably understand that it is much less mysterious than it first seemed. Nowadays, cryptocurrencies are making the revolution of the financial institution. For example, Bitcoin is currently used in 96 countries and growing, with more than 12,000 transactions per hour. More and more investors are involved, banks and governments realize that these cutting edge technologies are prone to draw their control away. Cryptocurrencies are slowly changing the world and you can choose – either stand beside and observe or become part of history in the making. And remember if you need to exchange your coins StealthEX is here for you. We provide a selection of more than 300 coins and constantly updating the cryptocurrency list so that our customers will find a suitable option. Our service does not require registration and allows you to remain anonymous. Why don’t you check it out? Just go to StealthEX and follow these easy steps: ✔ Choose the pair and the amount for your exchange. For example BTC to ETH. ✔ Press the “Start exchange” button. ✔ Provide the recipient address to which the coins will be transferred. ✔ Move your cryptocurrency for the exchange. ✔ Receive your coins. Follow us on Medium, Twitter, Facebook, and Reddit to get StealthEX.io updates and the latest news about the crypto world. For all requests message us via [[email protected]](mailto:[email protected]). The views and opinions expressed here are solely those of the author. Every investment and trading move involves risk. You should conduct your own research when making a decision. Original article was posted onhttps://stealthex.io/blog/2020/09/29/how-does-cryptocurrency-works/
My stock study watchlist. would appreciate criticisms or red flags
Core - FB ecosystem This is the stock that i believe is invested in the right places and has a path forward in the global market. I work as a React developer in fintech and I greatly enjoy their technology. The reason I stopped using snapchat was because I couldn't use it on low connection in Mexico, but Instagram worked marvelously. I use Whatsapp to stay in touch with my family in mexico and Facebook to stay in touch with my mom. There's something extremely powerful about that in my opinion. They're conservative with their push and development of camera and VR technology which is wise in my opinion give the many opportunities that exist in that space. They're pushing along with fintech in India, again with small business through Whatsapp. And they provide a suite of customer services for small business and entrepeneurs. - Microsoft I think they will have a great run during the cloud era of software development. Their acquiring of Github AND NPM goes to show how in touch they are with developer servicing. - Paypal Paypal has a marvelous history and is a battle tested pioneer in the fintech space. I see them repeating their previous successes by acquiring Honey. I work with Honey in the fintech space and now I'm understanding that Paypal has an auto coupon scraper on my Amazon purchases while my Visa ones don't. This is the forward thinking I love from Paypal despite not being as flashy as Square. - Disney Disney is quintessential american entertainment. I believe their deep roots in American culture and the entertainment industry will provide a solid bedrock for them for the generations to come. - Waste Management Sanitation and environmental, like internet connection technology, are about the same when it comes to market penetration. It is a scarcity. Sanitation is a critical part of any society's development and wellbeing. I think WM will be there to benefit from increased urbanization and industriousness from technology and wealth growth. - Kansas City Southern I'm Mexican and my family are avocado farmers. I believe in the future prospects of Mexico and its relationship with its neighbors. Mexico is a bustling nation and many youth are international students that carry degrees. This is a far cry from having military policing streets in rural neighborhoods decades ago. Kansas city southern is part of the supply chain that connects Mexico to main industrious Mexican states like Monterrey, Jalisco, and Michaocan. I like rail in this regard because it's a lot of weight in one operation of heavy materials. So Canadians that use Mexican mining will also benefit from this railroad. - Nintendo I believe in the future of gaming as a market and if I were to take a shot at who would be the most stable, I would vote for Nintendo. Like Facebook, they approach the family unit and grow generationally. I love their curveball approach to gaming and I think that creativity, along with it's customers trust, will be something I can hold onto for a long time versus companies that have a history of developing games like Call of Duty or World of Warcraft. Nintendo can take different forms: in the living room, at sweaty tournaments, online, mobile, on your phone, on a TV, in the movies, etc. Closely watching - United Health or Cigna This is only going to grow and wont change due to American politics for 8 years at a minimum. - Cisco Same as Microsoft but for IT. - Impossible Foods IPO I've been vegetarian for 10 years and Impossible Burgers has been one of the most mindblowing experiences of my life. The product is phenomenal and on a league of its owned compared to Beyond Meat. IMHO Beyond taste like cheap school lunchroom burgers and Impossible tastes like something I would be excited to feed my family. If their pork products are great then I am ALL in because Chicken products are by far the easiest thing to replicate. I'm extremely excited about this product. - Visa They make a ton of money on transactions. I saw them hiring for blockchain development so it leads me to believe that they're adapting. - Square I work in the fintech space and I like their modest approach to financial services. Their acquiring of a bank charter is actually incredibly important due to all the procurement and legal processes that go behind being a fintech company (abiding by federal security laws, etc). The one reason I like Chase banking is because I enjoy their app. I see Square as a competitor to Chase, surprisingly. - Apple Apple designs its products with customer service in mind. I think the future of education technology will likely go to Apple because of this. Their screens and cameras are wonderful and I can see them pioneering computer vision products because of this. They are THE American Tech company. - TMobile Aggressive as hell and grew to be a large player through savvy moves across time. Their customer service is a highlight for me. - JPM Customer service for banking is unmatched IMO. If any legacy banker will make it across changes, I believe Chase is doing what it takes to adapt and think forward. - Planet Fitness $10 gyms, clean, and casual enough for the general population. You can't beat $10 gym membership when you're broke as fuck. I've been a heavy lifter before and still used Planet fitness in my transitions across states and whatnot. I need to look at their numbers more closely. - Volkwagen I trust Europe and Japan to take EVs more seriously. I don't know who will seriously come close to competing with Tesla in the long run but they'll have to. - Panasonic Panasonic, much like AMD, did not immediately reflect the value of what they have produced. AMD did not explode inline with bitcoin or cheaper GPU consumption, in the same way Panasonic did not reflect a massive spike in price after speculation in Tesla grew. They're an important arm to the EV market that spreads across many players ranging from Tesla to Toyota to big tech. - Lyft I think Lyft's focus on customer service and regional clientele will pay off against Uber, who is growing too quickly and spreading thin. Lyft will benefit from the development of computer vision and Big tech's interest in automanufacturing. - Crypto (Bitcoin or XRP) I like crypto as a technology as a software engineer. I see the value in a faster process for procuring and exchanging legal tender that does not have to go through the bottleneck of the ACH process or through legal issues like the PATRIOT ACT or the Bank Secrecy Act. It still fundamentally respects those laws without the frustrations of banking service bottlenecks. I think the halvening protocol has an interesting affect on Bitcoin and supply and the market that it's trying to generate. -
Discuss: Bitcoin currently has no value, because storing value requires utility first. Assets that aren't useful can't be used to store value.
This makes Bitcoin currently worth between $0.00 and $0.01 in my mind. Why? Because ten years of development and exposure has lead to less layer 1 utility than in 2010. That's pretty bad and it indicates that the network has been captured by bad actors that are only interested in the short-term financial gains it can bring. For those who are banking on the Lightning network... proposed layer 2 solutions do not compete against alternatives proposed by much more interesting projects like Ethereum and IOTA (which are both going for an industry-first approach, the only viable way to bring a complex technological product like cryptocurrencies to the masses). "But... but... what about fiat money? What about gold? Both of those store value, right?" - Well, yes. Both store value, but both have actual utility too. Bitcoin doesn't because its utility is speculative, which requires much more unpredictable criteria. Starting with fiat money, what gives it utility is the fact that it's legal tender. It can be used to pay your taxes and buy literally anything in most given countries (that's not a hyperbole, in a lot of places the definition of 'legal tender' is that it has to be accepted by a seller in exchange for a good or service - they cannot refuse your fiat money). For the case of gold, you probably don't know that about half of all gold on Earth is used to make jewelry, with about 15% used in random industries (from art to aerospace, electronics, etc.). Only about 35% is held in reserves, which means the price of gold is most likely between 1/3 and 1/2 speculation (which is fine for any commodity, zero speculation is impossible as long as it's traded). Comparatively, Bitcoin's speculation is damn near 100% of its price. If a major flaw is discovered, or another cryptocurrency is adopted as actual money before it, it's game over, Bitcoin is going back to literally zero. Not only that, but absolutely nothing indicates that it'll be a dominant force even in the medium-term (first-mover advantage is a joke considering how few people even know about cryptocurrency and how few people actually spend their Bitcoin). Meanwhile, groups like Grayscale are just going full steam ahead with the purely speculative approach in trying to chuck Bitcoins at every random person, focusing only on ads showing how corrupt the current financial system is and equating that with Bitcoin being the money messiah. It's a circus and it bothers me that nobody seems to see it, but it has been obvious that things are engineered that way. On the same breath you have people demonizing every single decision that has been made in the history of finance, while on the other the same people are cheering at the prospect of any possible Bitcoin derivative asset imaginable. One day it's about transacting quickly and evading greedy bankers and their fees, the other it's about being 'digital gold'. Now I feel like this nonsense is engineered opacity and confusion: when you walk into a room where everyone is screaming, you can't understand a thing. To conclude: Bitcoin is obviously not the future, so why are there so few candid discussions about it? My answer is that there are, but our media (this is both social and traditional media) is designed in a way that heavily favors confirmation bias. Furthermore, very few experts on this subject actually exist (would need both a deep understanding of crypto, finance and macroeconomics) and even fewer have adopted a truly neutral stance since there is so much money to be made scamming noobs. Things are quite simply too chaotic and uncertain for the people with real integrity to step in and set the record straight yet. What do you think?
Charles Hoskinson on the Rough Days - [Text Version]
https://preview.redd.it/h49t3t6u9pl51.png?width=1221&format=png&auto=webp&s=fde73f432fd15d2b361f4e1621e67785bc27e30e We as AzureADA SPO watch all the videos by Charles Hoskinson. These videos are not only great news on Cardano development and ecosystem, but very often a source of inspiration. The video with the name “Rough Days” streamed live on September 4, 2020 is really a historical speech, that’s why we decided to transcribe for everyone who prefers to read rather than to watch and listen. The video you can watch here: https://www.youtube.com/watch?v=qM192wAV4LA And here is the text version. Hi everybody Charles Hoskinson here live from warm sunny Colorado. Always warm, always sunny, sometimes Colorado. And I got my Massey Ferguson hat on. Take that off, see my hair's all messed up. One of these days and we'll lose all that hair. It’s a rough day today and that markets are terrible. down 20 percent for most people. And every now and then I talk about price, I rarely do, but in general, let's talk about the macro. Crypto is a unique phenomenon, it's a unique thing and these are crazy times. I remember just a few months back when coronavirus first came out and we saw basically everything just bottom out, everybody went crazy they went to cash all asset classes just went to hell in a handbasket. And I did a video and I said: «Guys, our best days are ahead of us as an ecosystem and as an industry. And what happened? Everything got better over time. People started getting more optimistic. You know, the reality is that we are seeing an old industry die right now, the legacy financial system. I just read Biden's tax plan. He wants to treat capital gains as ordinary income and put another 12,5% on top of that. And at the end of the day, all these new taxes amount to a trillion or so extra dollars, I think, per year in income. Takes six years from the make back what they printed out of thin air for coronavirus and are willing to print again. Which begs the question why do we even pay taxes anymore if we can just print money out of thin air. And we have a whole movement of people, the AOC crowd, wake up every day and they say: «Modern monetary theory: the actual supply doesn't matter. All that matters is how much can we print and get away with it." This is where we're at as an economy right now. And globally speaking, a lot of other nations agree with this. So given that the whole world, the leadership of the world is talking about negative interest rates, they’re talking about predatory financial systems hyperinflation, just print money modern monetary theory, just print as much cash as you want. And we look to the cryptocurrency industry and, God, we got a lot of problems. I think this collapse is probably because one of the most prominent exchanges in South Korea got hit. They got shut down by the South Korean government. They, at one time, were responsible for a big part of the kimchi premium. And you know what? Korean government might shut down a few more Korean exchanges. And usually the market base these things in. We got crazy yield farming weird stuff going on in the DeFi space. All these other local events and their blips, they don't really matter that much. Just like corona in the long term won’t matter too much. In terms of the markets what matters is the trend and where are we going. I had a meeting with some people this morning and we talked about revolutionizing the healthcare industry and getting things better in terms of supply chains. I had another meeting with a soon-to-be former Wyoming state representative about how we're going to get governments to adopt blockchain technology. I talk every day to governors, heads of states congressmen, senators, mayors, some cities, sometimes very large cities with millions of people. They all say the same thing: «We need help, we need solutions, we’re damn tired of the way that the old system is running». And you know what? If we don't solve it - a lot of people are going to get hurt or continue to be hurt. The common theme that we all have is - no one's happy. Look at the black lives matters protests. Taking their philosophy of the organization aside the ranking file people are there not because they love marxism they're there because they're unhappy with the way society is. And why shouldn't they be? When my grandfather got his first job on my mom's side out of the Korean war, he was a lineman. And he made enough money from that job to have seven kids and have his wife stay at home. No college degree fresh out of high school, fresh out of marine demolitions and alignment five boys and two girls. And he could take care of that family and save money every month, have a car and a house and that was his standard of living. How many people in the middle-class today in the United States or Europe for that matter have the ability on a single person’s salary to raise seven children and have the wife or the husband stay at home? How many people? Not many. Why? Because our monetary system has failed us. The inflationary policy has created a situation where the Jeff Bezos can have 200 billion dollars and make windfall profits every year regardless of how bad the economy is and the everyday people they don't get a pay increase, so a lot of cases they don't get keep their job and their money deteriorates in value a lot more than three 3% per year. Our industry has principles in that we worship the math and the protocols and the stable monetary policy, these types of things. And as corrupt as some of the exchanges can be and some of the bad actors are: all movements suffer from these warts. And they're finite and temporary. You run out of them at some point. Self-regulation kicks in or standards kick in and these bad actors flush out. And what's left behind is a crucible that contains the truth of the matter, which is: we're going to win as an industry. There's just no doubt in my mind. You have bad days in the market, you have damn good days in the market. You get addicted to the good ones and you hate the bad ones but at the end of the day, it's only going in one direction which is: crypto is going to eat the world. Every voting system, every property registration system, every monetary system the next 25 to 50 years is going to be running on the tech we build and others build. And running with the principles of power to the edges. This is the great challenge of our time: to do it in a way that it's fair, transparent, open, and doesn't allow a government to co-opt it. It's gonna be a lot of fights here the least of our concerns and matters are a red day. And every now and then I like making these videos to remind people why I’m here and why you should be here too. As toxic as the trolls could be and these other people can be - none of them really matter. Markets don’t really matter. What matters are the principles and the purpose behind what we do. And you have to ask yourself: - Are you happy with the way that society is? Are you happy with the money in your pocket? Are you happy with the political leadership representing your nations? Are you happy with your future and do you honestly believe if we keep doing the things that we did and continue to do that the future is going to be better? Or do you think it's going to be worse or stagnant? I think too many people have woken up and they realize that if we continue doing the things that we do, the future is going to be a bad place. And they don't want that to happen. And so we're voting with our wallets, we’re voting with our feet and we as a collective industry are waking up and figuring out how to build something better. And there's some good days and bad days along the way. Today's a bad one, but there are going to be good days tomorrow. Just like I told you back when corona made everything go into free fall. And I told you before. And I warned you about with ICO mania. We're in a DeFi bubble right now. There’s no doubt in my mind about that. I saw it in 2017 with ICO mania, I see it here. And there's probably going to be worse days ahead in that respect. But the trend is always the same and never forget that. And never forget that real people are actually adopting these systems and using them. And every day we see more and more and every day that movement grows. What's so humbling is that I know a lot of you are here with me. It used to be pretty lonely space to be in a few years back. You know, the conferences, they didn't have many people. My first bitcoin meetup group in 2011 in Colorado is at the gypsy house cafe, I think I was 13th in Pearl over Capitol hill in Denver. And I registered for the event, I showed up. Two people registered: myself and another guy. And the other guy didn't show up so I had coffee with myself. Compare that with the Shelley summit that we had in July of 2020: 10 000 attendees. Ten thousands from all across the world. Compare that to where we are at today just nine years later. Pretty amazing if you think about how fast things have grown and how many fertile beautiful ideas exist in this industry and what this industry is doing for the world as a whole. And that is why we're going to win. Because at the end of the day who can argue against freedom? Who can argue against liberty? Who can argue against putting people in control? The only way you can is when you believe people are stupid, people are evil, people are incapable. And I suppose that's a philosophical difference between those who currently lead and the people who want to replace them. The people in charge right now of the world, the big banks, the Fortune 500 companies, the media, Hollywood, these things - they're very cynical people who believe in the worst in us. They look at everyday people with sustain and disgust and say: «These people if left to their own devices will be chaos. These people if left to govern themselves will burn everything to the ground and destroy everything.». And every single time I have ever seen a bad event happen, what the news doesn’t show you and what those people don't talk about is how we come together and help each other out. Someone gets injured in the streets more often than not people show up and help them. People need a helping hand someone always shows up more often than not. And this is no different. I don't believe the political process is effective anymore in any modern democracy. They've all been co-opted, perhaps they always were. But what I do believe is that we can come together and change things economically, which is what we're doing. And it's messy. Building our own money is messy, building our own industry is messy. We make a lot of mistakes along the way, we lose a lot along the way. We collect some scars too while we're at it. But progress every year keeps being made. The technology every year keeps getting better. Today, right here, right now provably secure proof of stake protocols are in circulation. They were a fantasy five years ago, now they're a fact of life. Today, right here, right now snarks have evolved by an order of magnitude in every category from validation time to efficiency to proof size. In all favorable ways which opens up all kinds of new applications and scalability and privacy. Today, right here, right now layer 2 protocols are more advanced than they have ever been in our industry's history. giving us the ability to build payment systems that scale to billions of people. Today, right here, right now we are seeing massive innovations in governance and a fertile environment for things like approval voting, threshold voting, preference voting, quadratic voting that will enable us to build all kinds of new treasuries and governance systems that eventually will scale to nation-states. As the politicians of today argue whether the post office can properly count paper ballots that people mail, we are building voting systems with state-of-the-art cryptography living on phones where you can vote with just a tap of a button and enjoy more security than we have ever imagined before. That is the future. This movement is enabling humanity. Money flowing at the speed of thought and the speed of thought making new money. How can you compete with that? You can’t, unless you bring people down with cynicism and disdain. And ultimately what competing vision do they offer? That you all should be in chains. That we should just be wage slaves. We should just accept that every year our money deteriorates in value. That we should just accept that the rich will get richer the poor get poorer. And every now and then they throw us table scraps. And when we get real angry - they usurp the movements and then install their own leadership to basically take those movements from us. As we've seen so many times before and we will see it again. I'm sorry that's not a road I want to walk down. And I'm willing to ride rocky waters, crazy markets crazy people in unlimited flood and trolling. But I will never apologize for believing in the best in people. And I will never apologize for believing that if only we give everyone around us the tools to save themselves and society that they can do it. They don't need great leaders and charisma. No one needs someone to tell them what to do. We all know what to do. We all know how to make the world a better place. We just have to be trusted enough to do it ourselves. You know what? For the first time ever we did with Bitcoin. And then we did it again with Ethereum. And now we're doing it again with Cardano. And we, as a movement, will continue to do it. So I believe our best days are ahead of us and every day I wake up and there's more people marching with me in that respect. And one day it'll be millions. And one day it'll be billions. And one day all those cynics will be gone. Replaced with optimists who once again believe that tomorrow is going to be better than today. and that we're going to leave the world just a little bit better than the way we found it. So every now and then on a tough day I like making a little message and letting you guys all know it's going to be better and you know what it will be. Just have to have faith that it will be. So hold the line, hold strong, and have faith in each other and go do something. Build something. Start something. Got a lot of podcasts on the way. A lot of things coming down the pipe for the DC fund. A lot of opportunities to actually innovate. Multi-assets are coming soon. Plutus is coming soon. Guys are going to be able to build a lot. Start thinking today what's the business plan. What would you like to change? Small or large. You don't complain about voting - change voting! Your own organization. Maybe you belong to a club - do a blockchain-based voting system. Maybe you have some political influence. Have a primary democrat or republican or your local primary in your country for selecting candidates done with blockchain-based voting. Maybe you want to build a new financial product. Think about it! Figure it out! There's so much there! It’s all there! It's ready to go, it's for you to take and build and innovate with. Every day I wake up I try to make the platforms better. I try to push the technology a little further along. I try to hire great people and bring them into our industry. Cardano brought the Haskell industry into the cryptocurrency space. Cardano brought a lot of academics, who had never thought about cryptocurrencies, into the cryptocurrency space and we made our problems their problems and as a consequence, they started solving them in ways we could have never done before. But most importantly Cardano brought a lot of YOU into the cryptocurrency space and you never thought you'd have this level of control and freedom over the fabric of society in the direction of the human race. Don't let that slip through your fingers. Figure out what you want to do with that superpower. Might be small, might be big. I dreamed big. You can dream big too. Even if you want to just dream small: every person counts every action counts. Up to the hill. Y'all matter. To me and to each other and we're all in this together. Never forget that. So, hard day, rough day. Tomorrow will be a better one. The day after will even be better. See you guys soon Take care!
About Bitcoin. Bitcoin price today is $10,713.70 USD with a 24-hour trading volume of $49,414,705,760 USD. Bitcoin is up 0.25% in the last 24 hours. The current CoinMarketCap ranking is #1, with a market cap of $198,304,875,370 USD. Bitcoin Price Chart The Bitcoin price chart provides historical price values and exchange rate values for the last 6 months. Bitcoin Price: $10,689.006100 $0.17 (0.00 %) No discussion of Bitcoin’s price would be complete without a mention of the role market manipulation plays in adding to price volatility. At that time, Bitcoin’s all-time high above $1000 was partly driven by an automated trading algorithms, or “bots,” running on the Mt. Gox exchange. Discover historical prices for BTC-USD stock on Yahoo Finance. View daily, weekly or monthly format back to when Bitcoin USD stock was issued. Bitcoin history for 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019. Bitcoin price chart since 2009 to 2019. The historical data and rates of BTC ...
A moment that marked Bitcoin history for ever, "30k BTC sell order being chewed through!" "Hallowed Day - On October 6, 2014, one of the grandest and most brutal struggles ever to grace the ... This video is unavailable. Watch Queue Queue Discord (Krowns Crypto Cave) - https://discord.gg/hzKU7qe Twitter - https://twitter.com/krowncryptocave?lang=en https://krowntrading.net/ - The digital hub o... Money is as old as human civilisation and civilisation itself is reliant on possessing ways in which to exchange, account for, and transfer value. A brief hi... 1. May 2010 In 2010, Laszlo Hanyecz agreed to pay 10,000 bitcoins for two pizzas. It was the most expensive pizza in history. 2. Jul 2010 Mt. Gox,was responsible for more than 70% of bitcoin ...