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Back in 2014, a group led by a woman named Ruja Ignatova created a Ponzi scheme called Onecoin which, together with the organization Onelife, defrauded billions from 3 million people. At peak popularity, the group declared that Onecoin would be a “Bitcoin killer” but the pyramid scheme is now in ashes and many of its founders are in hiding after being charged with fraud and money laundering.The Fall of Onecoin and the $4B Global Pyramid Scheme
In 2019, many Onecoin affiliates are being charged with crimes by law enforcement agencies from multiple nation states after the Ponzi scheme crumbled to pieces. On Feb. 17, Florida-based attorney Mark Scott was arrested for being a suspect in the $4 billion dollar pyramid operation. Allegedly Scott laundered $400 million that was tied to the Onelife association and operations. U.S.-based federal investigators say that Scott moved the money through hedge funds set up in the Cayman Islands and then sent a great portion of the funds to elite Onecoin members. Last August, Scott was indicted by a federal grand jury on money laundering charges stemming from Onecoin and on the same day a warrant was also issued for his arrest.Since 2014, Onecoin proponents have claimed the Ponzi scheme was a real cryptocurrency with a blockchain and it would be considered the “Bitcoin killer.”
Onecoin’s leader Ruja Ignatova who started the project in 2014 has been reported as missing for well over a year. Ignatova and high up associates made off with billions when reports detailed back in January 2017 that affiliate withdrawals exceeded new investments. Not too long after, the official Onecoin ‘exchange’ closed its doors. Before Ignatova went into hiding, investigative journalists noted she bought a yacht worth $15 million for traveling and a mansion in the Bulgarian seaside town of Sozopol for $2.5 million. The newly purchased home has custom-made furniture imported from Germany, a private beach, vineyard, and a large playground.
Even though it is was publicly known that Ignatova bought these luxury items in the tourist town of Sozopol, Bulgarian law enforcement has not been investigating the founder’s purchases. Although police in Sofia did raid the Onecoin offices last January as part of a global law enforcement effort to take down the “centralized cryptocurrency pyramid scheme” that defrauded over 3 million individuals. The offices of “One Network Services” and approximately 14 other related firms were searched and evidence was seized.Ruja Ignatova is a gypsy who has always been on the move. Ignatova has been missing in action for well over a year after she purchased a $15 million dollar yacht and a vacation home in Bulgaria.Onecoin Leaders on the Run and Global Investigations
Even though Onecoin operations have slowed to a grinding halt and many leaders have fled, the official takedown could still last for years according to Gerald Rubsam, a general prosecutor based in Bielefeld, Germany. Onecoin is being investigated by German law enforcement, but also by authorities in Britain, Ireland, Ukraine, the Baltic States, Italy, U.S., Canada, and other regions. “[Our] investigation is being conducted against eight suspects, mainly employees of one of the companies of the Onecoin group registered in Germany,” explainedRubsam last October. The Bielefeld prosecutor further detailed that law enforcement cannot find Onecoin’s leader.
“We have no information on where Ruja Ignatova is currently at the moment,” Rubsam noted.Bulgarian police images from the Onecoin raid.
Bulgarian prosecutors have admitted that Onecoin operations were not totally shut down when they raided the offices in Sofia. This is because Onecoin Ltd. is officially registered in the United Arab Emirates and a small group of founding individuals from various countries. Since the beginning of this blatant scamcoin, news.Bitcoin.com has reported and investigated Onecoin many times and well known bitcoin proponents have been adamant in fighting this fraudulent Ponzi. Our investigative report and interview called “Buyer Beware! The Definitive Onecoin Ponzi Exposé” has been viewed hundreds of thousands of times and translated into various languages.Onecoin “Dealshaker” paperwork found during the Onecoin raid on Jan. 18, 2018.
The reason most bitcoiners wanted Onecoin exposed is because the scheme was never a real cryptocurrency and didn’t even operate on a blockchain. However, in the long run, it seems most law enforcement agencies have discovered the difference between legitimate cryptocurrencies and this fraudulent pyramid scheme. Even though the project is in ruins today with 3 million victims and many high up leaders on the run, it will still take years to clean up the mess.
This is probably a little known fact, but Kim Kardashian is a hardcore HODLer. After talking to her fellow Kardashians (Khloe, Kylie, Kourtney, Kendall and Kris), Kim decided to call her next child “BitKoin”. She even turned Kanye into a crypto enthusiast. In fact, Kanye recently wrote a tweet asking Roger Ver to take his MAGA hat in exchange for a “BCH please” shirt.
Kim has something in common with Bitcoin. Bitcoin’s ledger is public. Just like her behind used to be when that video was released. The most famous Kardashian is also a big crypto evangelist. Last year, she tried to promote Bitcoin on her Instagram account. Sadly, her audience wouldn't buy something they can’t show in a selfie.
Something people don't know about her is that she’s an early contributor to the original Bitcoin project. She decided to leave after they rejected her proposal for adding ‘likes’ and ‘followers’ to the Bitcoin protocol.
In a recent interview with E!, Kim admitted attending the Anarchapulco conference every year disguised as an old man. She also admitted to having a Liberland diplomatic passport. However, she doesn’t think she could live there because her L.A house is bigger than the entire country.
As of her vision for Bitcoin, let’s all remember when she tweeted :
“We need bigger blocks. Bitcoin needs to do the highest number of squats so it can have the biggest block. That's how we're going to scale.”
God bless Kim.
*This is a fake article*
The level of traffic on the bitcoin blockchain took a sharp dive during the price crash of 2018, but a gradual and steady recovery has already taken us to new heights.
Learn more in this 2-minute video: https://youtu.be/0N5Crg2_z4U
In what some view as a landmark move, Google developers have added the bitcoin currency symbol to the iOS keyboard. Vitalik Buterin’s public request to add an ethereum symbol, however, was met with an unceremonious blow-off. The** move, by a company so successful it’s evolved its domain name into a verb, reflects Bitcoin’s mainstream trajectory.** An Unlikely Love Story: Apple, Bitcoin and a Currency Symbol
The bitcoin symbol, which has seen deployed in a shortcuts app to aid Siri with command execution, is available on the Google Keyboard on iOS devices. Apple’s native keyboard does not have this functionality.
Standing tall among the world’s greats, behold Google’s new bitcoin currency symbol.
A Reddit user explained how to produce the key manually: “If any of you guys want to be able to type it, the Unicode code point it: U+20BF. For me, on Linux this means hitting Ctrl-Shift-U then releasing and typing 20BF or 20bf since caps don’t seem to matter which produces a nice ₿.”
For Windows, another user proved just why an Android symbol would be very welcome indeed: “On windows, you first have to edit the registry. In order to enable a universal (independent of language settings) input method in Windows, one can add a string type (REG_SZ) value called EnableHexNumpad to the registry key HKEY_CURRENT_USER\Control Panel\Input Method and assign the value data 1 to it. Users need to log off/in on Windows 8.1/8.0, Windows 7, and Vista or reboot on earlier systems after editing the registry for this input method to start working. Then, holding ALT and typing “+20BF” should give ₿.”
It’s unclear why Google has opted to add the bitcoin symbol to Apple’s interface and not yet to that of Android. Apple’s penchant for privacy is a good fit for bitcoin users, yet its wallet-gobbling insistence on proprietary software is in direct contrast to Bitcoin’s – and Google’s, for that matter – open-source nature. With most privacy-minded individuals opting for Android over iOS, it’s thus slightly ironic that the bitcoin symbol, a currency arguably geared towards the privacy-conscious, is available exclusively on iOS. Even more ironic is the fact that most iOS users tend to use the native Apple keyboard as opposed to the Google version, pointing to Google’s permissions requirement as an adoption deterrent. Yes to Bitcoin Currency Symbol, But Everything Else Is a No-Go
Ethereum founder Vitalik Buterin responded to the news by tweeting Google: “I would like to discuss with you regarding the possibility to add an ‘ETH’ icon.”
The search engine-turned-everything-else was quick to reciprocate with a Dear John letter:
Thank you for your interest regarding our keyboard product. We regretfully have to inform you that Google will not add any other crypto icons to the keyboard besides Bitcoin because we believe everything else is legally questionable and long-term not viable.
Buterin has since deleted his tweet. The Ethereum founder previously reported to have received a job offer from the search megalith in 2018, taking to Twitter to poll his followers on whether he should accept. This time, it was Google who had the last say. From Brand Recognition to Brand Adoption in a Single Keystroke
If brand recognition is any indication of eventual mainstream acceptance then Google’s addition of a bitcoin currency symbol to its native iOS keyboard is a sizeable arrow pointing in the right direction.
The symbol now features on the Google keyboard currency strip alongside the dollar, euro, yen, pound, Korean won, Russian ruble, Indian rupee, and the cent symbol.
It’s alluring to fall into the honey trap that this spells significant news. The tech conglomerate, which under the guise of parent company Alphabet co-founder and president Sergey Brin once admitted that it “failed to be on the bleeding edge [of blockchain]” is finally coming around. That Alphabet is going Bitcoin, and then – just maybe – crypto. (Especially in light of Google’s AI defining bitcoin as a “collapsed economic bubble” or making the cryptocurrency industry the butt of a launch joke.)
After all, in the period 2012-2017, Google placed second as the most active corporate investor in the blockchain space. And rumors regarding a cryptocurrency of Google’s own making have been circulating for a while, but that seems far-fetched, with Brin admitting as recently as last year that he doesn’t know “a whole lot about cryptocurrency” save for an amateur ethereum mining rig he’d set up with his son. Offering a Window Into the World’s Collective Conscious
While the addition of a bitcoin currency symbol certainly shows Google isn’t turning a blind eye on the world of crypto, this latest news is unlikely to signal Alphabet’s foray into the land of cryptopia. Instead, for a company that makes billions out of listening to us ask questions, it’s only natural that they would give us what we want. According to Google Trends, the search query “What is bitcoin” was the year’s top in the U.S. and U.K. in 2018. A company that, in layman’s terms, “owns the internet” can only stay top by doing what it does best: playing host to the globe’s digital hive mind. And if that collective mind wants bitcoin, then bitcoin is what it’ll get. The ivory tower where cryptocurrency ads go to die or currency symbols to be born.
Google has a significant effect on the cryptocurrency market. Unlike other movers and shakers holding the stock market in the palm of their hands, it’s primarily a content ledger, whether that content is organic or paid. Yet when the bitcoin price dropped by 11 percent after Google announced it would follow in Facebook’s footsteps and restrict the display of crypto ads in 2018 (a ban that’s since partially been lifted), it drove home the reality that Google has more of a say in crypto-land than many would like.
Time will tell what cascading effect the addition of the bitcoin symbol will have in the minds of everyday iOS users. And, of course, when Android users will get to greet the new family member.
Hrrmmmmss…. How does this work? If I switch pages will it save the draft?.. It did not save my bio when I clicked submit. So I will have to rewrite my bio. All good.
Aha, this draft has been saved!! Most excellent.
Where to start. I Have been in Crypto since dec 2013. I first started acquiring "private money" or "p2p cash" when I finally understood what was going on and the market was crashing. The first three times I heard about Bitcoin and what it was being used for, the market price was climbing and I looked the other way. I knew something was up but I couldn't put my finger on it. I wrote it off as E-gold which was squashed almost as soon as it was created. At $30, $50 and $80 I was disinterested. But at $1200 and crashing It was all the talk.
Shady news travels fast. The saying goes a lie travels faster than honest news can put its shoes on, or something like that, so the first 3 times I heard about Bitcoin I was skeptical. For most people i know they enter the space anywhere from the 7th to the 10th time they hear about bitcoin or they've overheard me ramble on about protecting wealth on many occasions, or in some negative news which seems to be the mainstay with new ideas or news in general. All in all very new to me still at that point, I could see there was more to understand and learn than the headlines were leading on because of this monstrous climb in price, I had to know what this was all about. I started my personal finance story off as a gold bug or further back in college in economics class, but there's much more to that story which I can get into in another post.
I find myself educating people on most topics, I do read a lot, more like all day long, more than most it seems and I needed to acquire all the information I could, so 6 years later and its past midnight in NYC, you can understand my sentiment and why my never ending search for knowledge has lead me here sparked by the right idea. Protecting ones wealth and having a future were at odds in NY then and I regret not hearing or taking the news more seriously as most do in this space earlier. My thoughts were radical at that point according to the mainstream media and Ron Paul wasn't well received by the major players in the political discourse. He is my hero and volunteerism is my guiding principle so coming of age for me was riddled with minor setbacks.
The future is hard to predict so I won't flog myself publicly much longer but I could not have made a better choice when I took the first leap of faith at $700 and I bought a quarter of a bitcoin. This was most of my monies at that point but I kept acquiring all the way down, even picked two up at around $170. Most of my acquisitions were squandered one way or another with alter coins or a hack, but I held on to some BTC. I have since figured out how to trade with intellect rather than emotions and instinct rather than fear and the light is brighter than ever. If there is a truth to be had, it is have some conviction in life no matter the naysayer, stay strong and hodl on. This is my crypto story, this is my truth. I hope yours is just as excellent. "Our greatest joy is not in never falling but in rising every time we fall" a saying on a plaque in my kitchen growing up. Thanks to everyone who helped me become a better man and thanks to people like you guys who allow us to share ourselves with the help of technology to keep the playing field honest. My sincerest appreciation.
Or w/e provides more freedom to the world.
**In an age where governments are trigger happy at censoring or shutting down networks, it is reassuring to know that Bitcoin can operate sans internet. **Network censorship, after all, is not some dystopian storyline but a power exercised by many democratic governments across the world. Thankfully, there are solutions that enable people to send and receive bitcoin even in a worst case scenario. For an advanced technology, it turns out that cryptocurrency can get surprisingly low-tech. Send Bitcoin by Radio and Circumvent Network Censorship
Imagine waking up one morning to find that the internet is down. Not because the wifi’s been disconnected: instead, your government has pulled the plug . You’ve no idea when it’ll be back online, and in the meantime, you’re cut off from life as you know it, ranging from contact with loved ones abroad to paying for anything by card. Since society isn’t big on keeping cash these days, and ATMs stock up on only so much paper money at a time, chances are you’ll have to sidestep – or engage in – a few fistfights if you’re to put a meal on the table.
Since bitcoin is, itself, a form of digital currency, it takes a good amount of preplanning to set up a transaction, but in theory, it could still operate even when conventional options are forcefully removed from the equation.
While most of us will hopefully never experience a dystopian world of intermittent internet, the productivity sages remind us that a failure to plan is planning to fail. Knowing how to transact with cryptocurrency in a chaotic world is the sort of knowledge that might just come in handy one day, and in the meantime will make you the most interesting guest at the dinner party.
Depending on the political stability of your geographic location, learning how to send bitcoin without internet could be nothing more than a fun Saturday afternoon science project. Then again, it could provide the way out of a tight spot one day, whether it’s transferring funds to a buddy stuck in the middle of the ocean or bribing a zombie to feast on the coins stored in your brain wallet instead of devouring your brain. Bitcoin Over Airwaves
2014 saw the earliest mentions of bitcoin being sent via the airwaves. Hamradiocoin was one of the early vanity altcoins, geared at the ham radio industry. While it wasn’t entirely clear why said niche industry needed a dedicated currency, its current $794 market cap – unchanged since May 2017 – adds to crypto’s rich historical arsenal of questionable coins.
But the idea of marrying Marconi and Satoshi was bound to lead to more useful experiments. A step in the right direction saw Finnish company Vertaisvaluutta.fi propose the creation of a P2P half-duplex CB/HAM radio cryptocurrency. Also in Finland, Kryptoradio partnered with a national broadcaster to pilot a cryptocurrency data transmission system that broadcasts bitcoin transactions, blocks, and currency exchange data via national DVB-T television networks in real time. The project failed to launch its commercial phase, with founder Joel Lehtonen explaining:
The project raised huge audience and there has been some serious commercial interest but nothing I am really interested in because they would destroy the original idea of Kryptoradio – distributing the Bitcoin ledger autonomously without internet connectivity.
Come 2018, there was a new experiment in town. Ingredients: Brooklyn-based gotenna, a mobile, long-range, off-grid consumer mesh network, and bitcoin privacy wallet Samourai Wallet. A New Zealand developer transported crypto from a distance of 12.6km away, entirely offline, using only a network-disconnected Android phone and four portable antennas. Though as his Twitter recount acknowledges, it took one heck of a prep, including setting up relay stations.
Fast forward to this year, and in perhaps the most simplistic effort yet, Coinkite founder Rodolfo Novak managed to move BTC some 600km away from Toronto, Canada to Openbazaar co-founder Sam Patterson in Michigan, USA. And in that moment, Bitcoin-by-sky went international. Advocates for Bitcoin by Air
In 2017, computer scientist Nick Szabo and PhD researcher Elaine Ou delved into the topic at Stanford’s Scaling Bitcoin conference, introducing a research project that proposed tethering bitcoin to radio broadcast to secure consensus proofs using weak signal radio propagation. (View their talk, a copy of the presentation, and our coverage of the event for further information.)
With Novak and Patterson’s latest feat, crypto Twitter went wild. Szabo, showing that he’s still a firm proponent of taking bitcoin skyward, chimed in to congratulate the duo for a successful sendoff that not even a snowstorm could stop. How to Send Bitcoin by Radio
As Novak and Patterson have illustrated, you don’t need to overload on gear or make space for satellite storage in your backyard to send bitcoin by air. Accompanying an SDR ham on this quest was nothing more than a 40m 7Mhz antenna and the JS8call application.
While the setup seems simple enough (Google “ham radio for beginners” for a primer), in practice this is probably not something you’ll dive into unless you’re just messing around or, in real life, shit gets real. Gearing up is as easy as H-A-M
In truth, there are restrictions aplenty when it comes to sending bitcoin by radio.
First off, legalities. To stay on the right side of the law, some countries require you to be a licensed ham operator, and even then you’re unable to send any encrypted messages or use the airwaves for commercial purposes unless so licensed. At this point, it’s not yet clear which governmental task force will join the SEC and co in clamping down on illegal apocalyptic bitcoin-via-radio transactions.
Since legal restriction is the mother of all invention, Novak and Patterson circumvented this by broadcasting their experimental, non-commercial wallet encryption sendoff via public cypher.
Then there’s prepping it all. For this to be a viable – albeit last resort – solution in an actual nail-bite situation, sender and receiver would have to set it all up in advance. Novak and Patterson were able to execute their experiment by communicating and collaborating in lieu of the transfer, using a brain wallet. (The brainwallet, which is simply storing your mnemonic recovery phrase in your brain, is not to be confused with the recent more nefarious version – the deathwallet popularized by CEO Gerald Cotten who took the keys to Quadriga’s crypto kingdom to his grave.)
Thus, if you’re going to use this as a backup plan for when stuff hits the fan, you’d better secure a right-hand wo/man and a fool-proof project management blueprint while things are still web-friendly. If this process seems as though it walked off the pages of a James Bond novel, yes. It’s decidedly more involved than a mere intra-wallet send-off.
However, if you’re gung-ho on testing out alternative bitcoin transports, don’t let the naysayers stop you. Yours might well be the next proof of concept the interweb is waiting for. The blog Better Off Bitcoin, for one, offers a run-through protocol tutorial. Scalability Is a Big Bottleneck
Clearly, scaling is a non-issue here. For the foreseeable future, sending bitcoin by radio happening unless it absolutely has to.
According to Australian crypto trader Boss Cole, “As Bitcoin and other cryptocurrencies are moving into the future, it is an interesting concept to think about what would happen if we instead went into the past. It is possible and easy to transfer Bitcoin without an internet connection, but it is not convenient. There are a number of projects working on this with satellites or their own infrastructure, however at the time of this writing they are not “popular” simply because there is no real demand.” He continues:
In the case of government censorship, the infrastructure would change rapidly. If we were dealing with serious problems, the infrastructure would follow. Because it is possible. If we went into the dark ages, the main way to transfer Bitcoin would be transferring private keys between individuals. This would be simple, but not convenient. Not even extreme weather conditions can deter the determined from sending bitcoin via radio waves
So while it’s theoretically possible to take to the skies and send crypto wallets around the world and all the way into space, DIY bitcoin ionosphere amateurs won’t soon be sending satoshis to the dark side of the moon any time soon. Why Radio Wave Transmission Might Be Necessary
We tend to associate worst-case scenarios in which the main character has nothing but a walkie talkie and an old ham lying around with Hollywood’s portrayal of doomsday.
Yet for unstable regimes like Zimbabwe and Venezuela, internet blackouts were how 2019 got its start. In reality, network censorship is an all-too-common control tool for many governments around the world.
India leads the pack with 288 shutdowns between 2012 and 2019, with 134 instances in 2018 alone. The Middle East and Africa aren’t strangers to forcing citizens into offline mode, either.
Under the Communications Act 2003 and the Civil Contingencies Act 2004, the U.K. has an internet kill switch, which could be enforced in light of a serious threat such as a significant cyber attack. The U.S. has had, for the past 85 years, the power to kill electronic communications under the Communications Act of 1934. And with talks of Russia considering a test run to decouple from the global internet, we risk taking a rude awakening if we assume the world’s 72,558 Google searches every second to be an unquestionable given. Bitcoin for Every Situation
It might have taken a mini-library worth of code to get NASA astronauts to the moon, but sending bitcoin there won’t be nearly as hard. All you need is a radio. Okay, that and a moon rocket. But the point is, this new technology can be just as comfortable – or accessible – even when when the tech you’re using is decidely old school.
Bitcoin might have been invented on the internet for the internet, but it can straddle both the digital and analog worlds. Cryptocurrencies like bitcoin walk the line between money under the mattress and cash in the bank. As these trailblazers show, bitcoin can straddle those worlds not only functionally, but also technically. Thanks to the efforts of the pioneers profiled here, crypto has shown it can survive in even the most challenging environments.
Sending bitcoin by radio isn’t quite carrier pigeon, but in tech terms it might as well be. Which, says crypto developer John Villar, is “probably the most low end you can get before smoke-signaling a brain wallet.”
**The cryptocurrency markets have produced several days of bullish price action, with BTC testing resistance near $4,000 for the time in five weeks today. In doing so, it’s broken the 100-day moving average for the first time in 272 days. In other market action, both BCH and ETH rallied to test resistance near $150, and EOS spiked to again rank as the fourth largest cryptocurrency by market capitalization.
** BTC Tests $4,000 for First Time in 5 Weeks
The cryptocurrency markets made a second bullish leg-up today, with only two of the top 50 crypto assets by market cap posting a drop in price during the last 24 hours as of this writing.
BTC rallied to test resistance at the $4,000 area today, marking the first time that BTC has entered $4k territory since Jan. 10. Today’s gains were also driven by a slight uptick in volume when compared to yesterday. BTC/USD – Bitfinex – 1D
In the last two weeks, BTC has gained approximately 16.25% since bouncing off local support at approximately $3,350 to currently trade for approximately $4,000 on Bitfinex and $3,900 on Bitstamp. BTC now has a market cap of $68.91 billion and a dominance of 51.50%.
When looking at the stochastic RSI on the weekly chart, BTC is at its strongest since December 2017. BTC/USD StochRSI BCH and ETH Test $150
Bitcoin cash produced the second strongest gains of the top 50 cryptocurrencies by market cap today, rallying to test $150 for the first time since Jan. 10. BCH/USD – Kraken – 1D
Since bouncing off support at $100 on Feb. 18, BCH has gained 38.5% to currently trade for nearly $146. When measured against BTC, BCH is currently trading for 0.0375 BTC, an 11% gain in two days. BCH is currently the sixth largest crypto asset with a capitalization of approximately $2.61 billion and a dominance of 1.94%. BCH/BTC – Bittrex – 1D
Ethereum is currently trading for $150. In the last two weeks, ETH has gained roughly 43% over the dollar after establishing support at the $100 area. ETH/USD – Bittrex – 1D
When measured against BTC, ETH is currently testing resistance at the major long-term price level of 0.0375. Ethereum is the second largest crypto asset with a capitalization of $15.53 billion and a dominance of 11.62%. ETH/BTC – Bittrex – 1D XRP Attempts to Convert $0.34 Resistance Into Support
Ripple has gained 11.5% in two days, with the markets currently attempting to establish support at the recent resistance area of roughly $0.34. XRP/USD – Poloniex – 1D
When measured against BTC, XRP is currently trading for nearly 0.000085 BTC after gaining more than 1% in a single day for the first time during February. XRP is currently the third largest cryptocurrency with a market cap of $13.86 billion and a dominance of 10.37%. XRP/BTC – Bitfinex – 1D EOS Overtakes LTC by Market Cap
Of the top 50 markets by capitalization, EOS produced the strongest gains of the day, with the price of EOS increasing 16.9% over the dollar in the last 24 hours. Over the course of the last two weeks, EOS has gained nearly 55% to currently trade for $3.66. EOS/USD – Bitfinex – 1D
When measured against BTC, EOS has broken above 0.0009 BTC for the time since Sep 20, 2018. Eos is currently the fourth largest cryptocurrency with a capitalization of almost $3.27 billion and a dominance of 2.44%. EOS/BTC – Bitfinex – 1D
Eos’ gains have seen LTC slide one rank by market cap, with LTC currently ranked fifth with a capitalization of $2.95 billion. Despite this, LTC is testing long-term resistance at the $50 area for the first time since Nov. 14, 2018. LTC/USD – Bitfinex – 1W
When measured against BTC, LTC is against testing resistance at a major long-term price area, with Litecoin currently trading for 0.012 BTC each. LTC/BTC – Bitfinex – 1W
A recent report published by the Bank of Spain states that Bitcoin is a solution for the creation of a system without censorship. This is in contrast to public comments made by most central bankers who are prone to attack cryptocurrency with little insight into why it is needed. Explaining Peer-to-Peer Electronic Cash to Bankers
Banco de España, Spain’s central bank and supervisor of the Spanish banking system, recently published a report aiming to explain how Bitcoin works. The document details the functions of the cryptocurrency, as well as analyzing its strengths and weaknesses from the point of view of the established financial order. It also explains that the best way to understand the aims of the new system is by consulting the original Bitcoin whitepaper written by Satoshi Nakamoto.
The report mentions that according to Nakamoto the world needs “an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party.” Thus the goal is to create an electronic payment system similar to cash which allows remote payments without the need for the intermediation of institutions such as banks. This is meant to enable truly irreversible payments and reduce intermediation costs. A System Without Censorship
The report concludes that cryptocurrency was envisioned as a payments system without the possibility of transaction censorship or a central authority with the power to authorize or reject transactions. It states that “bitcoin is an imaginative and elegant solution to this problem” of “the creation of a system without censorship.” However the central bank’s report also determines that traditional payment systems do not seek to resolve this problem and therefore cryptocurrency is not an alternative to them.
In line with the common position usually expressed by central bankers, the report ends by saying: “Taking into account that for most agents the existence of trusted intermediaries is not a problem, along with the costs and inefficiencies generated when an attempt is made to eliminate these intermediaries, it does not seem that bitcoin, as it currently stands, is going to have a significant impact for the financial sector as an alternative payment system to the traditional channels.”
In Tuesday’s installment of The Daily, we begin by checking in with a couple of the leading exchanges in the cryptosphere. Kucoin has unveiled a new look and a slew of new features, while Binance is poised to launch the testnet of its long-awaited DEX. We’ll finish by examining an integration between sentiment analysis service The Tie and Trading View that will allow traders to correlate markets with moods. Kucoin 2.0 Goes Live
On Feb. 18, Kucoin underwent scheduled downtime to ready the exchange for a major overhaul. Upon the platform’s return, traders were greeted by a new login page, new wallet addresses, new trading engine, and new dashboard. To celebrate the upgrade, traders can enjoy zero fees for the next three days. In a tweet, CEO Michael Gan noted that his team was working to further improve the platform based on user feedback. Stablecoins have a dedicated section in the redesigned exchange, where they now nestle under a tab simply marked “SC.”
The new-look Kucoin supports more order types, incorporates new APIs, and has a clearer dashboard that makes it easier for users to determine their security and account verification level. Upon logging in to the exchange for the first time since the upgrade, users will be prompted to set a trading password. Other features incorporated into Kucoin 2.0 include a tiered trading fee discount program designed to increase liquidity, and the ability for users to unilaterally freeze and unfreeze their accounts. D-Day Looms for Binance DEX
Binance’s decentralized exchange (DEX) is inching closer to its public release. Tomorrow, Feb. 20, the testnet will launch ahead of the mainnet going live. In an announcement, the exchange explained: “Infrastructure-wise, the testnet of Binance Chain will start with 11 test nodes. We will test various combinations of nodes to optimize performance. While many have asked, the number and selection criteria of mainnet nodes are yet to be decided. At this stage, we simply want to develop a best-in-class DEX as fast as possible.”
The DEX will launch with the Binance-owned Trust Wallet integrated, before adding support for third-party hardware wallets such as the Ledger Nano S. Binance coin (BNB), which will be used as a primary trading pair and to cover fees on the DEX, has surged in price in recent weeks in the build-up to the platform’s launch. The Tie Integrates Trading View
Technical analysis and sentiment analysis have traditionally been separate disciplines that haven’t easily intersected. The former entails staring at charts, while the latter requires gauging what communities are saying or “feeling” about particular assets, before taking an educated guess as to where the market is likely to move. Sentiment analysis service The Tie has now completed Trading View integration, enabling users to overlay charts from both disciplines.
Its BTC chart, for example, shows sentiment closely correlated with price, but with some divergence over the last three days. Alongside the traditional Trading View dashboard are metrics such as sentiment, hourly sentiment, one-hour price projection and the accuracy of this prediction expressed as a percentage. “On top of the technical indicators Trading View already offers, The Tie has added the ability to chart 13 custom indicators including sentiment, NVT ratios, relative tweet volume, and more all on the same chart,” explained the platform.
news .bitcoin. com
The Bitcoin project is a topic I’ve been interested in for a while now. I like several other cryptocurrencies and blockchain projects, Bitcoin in particular never ceases to amaze me. There are hundreds of influencers already in the Bitcoin universe and more appearing each day, new tools, sites, videos, reports, tons comments from self-proclaimed experts and much more; too much content and opinions for a normal person to review.
I decided to analyze the conversation in Twitter about the three predominant Bitcoin implementations: Bitcoin Core (BTC), Bitcoin Cash (BCH) and Bitcoin SV (BSV). The particular questions to be addressed with this study are:
- Who are the most connected influencers?
- Who are the most mentioned among the Bitcoin crowd?
- Who is the most loved/hated?
- What is the behavior of users talking about each implementation?
I started by defining a list of keywords to search:
- bitcoin core
- bitcoin cash
- bitcoin sv
The terms 'bcash' and 'bcore' are included in the search as I consider highly interesting the use of this kind of social attacks (removing ‘bitcoin’ from the name of the project) from conflicting user groups.
A search using the Twitter API was performed for each keyword on February 14th, 2019; it resulted in 424 tweets. The number of tweets and number of different users appearing in each term search is reported in the bar plot below:
From the bar plot charts we can see that there is rampant attack to the Bitcoin Cash project by the use of the ‘bcash’ term just by looking at the disproportion of users to tweet count; it is the term with more results, with 41% more tweets in the sample than ‘bch’, but almost the same number of users. The smallest group is the people using the term ‘bcore’, possibly meaning that only a few users attack the Bitcoin Core project this way.
There’s a total of 337 different users in the data set, and 28 users appearing in more than one group. It is important to quantify this number as it may affect the conclusions of the analysis, but given that is only 8.3% of users that repeat among groups, the errors of the analysis should be minimal. Group behavior
To go deeper, I proceeded to retrieve the timeline for users in the search term results limited to 1,400 tweets per user and the last 7 days. This resulted in a data set with 69,804 tweets. The term ‘bcore’ was dropped from the analysis because statistics for a population of size 7 are pretty much irrelevant.
The tweets were grouped by users and the following features were computed:
- Average number of users mentioned per tweet
- Average number of characters per tweet
- Average number of Tweets per user per day
From these features we can observe the particular behavior of each group, just take a look at the density estimation plots below. For context, the Gaussian density estimation charts used in this analysis display characteristics of the population distribution in a similar way to a histogram, but easier to read when comparing populations. Users Mentioned per Tweet
Users from the ‘bcash’, ‘bsv’ and ‘bitcoin core’ groups display a shorter tweet length; while users from the ‘btc’ group type longer tweets. The abnormal case is the ‘bitcoin sv’ crowd as users in this group produce tweets very close to 120 characters. Tweets per Day
Even more strange is the fact that the ‘bcash’ group produce less tweets per day in average despite being a predominant term in the search results. The ‘bsv’ crowd seems to be the more active by producing around 20 tweets per day.
Looking at the cumulative user percentage by this variable we see that 20 tweets per day is another abnormally common value. As a curious fact, that 80% of people in these topics tweet less than 60 times a day. User Interactions
The interactions among users are interesting as well. I quantified the users mentioned in every tweet (if any) and obtained the sentiment score of the tweet as positive, neutral or negative using the Python library TextBlob. There are 8,549 users mentioned at least once in the data set.
The first thing to obtain was the number of mentions of each user, a very simple calculation. This feature is particularly sensitive to things like polls and prone to manipulation, for example: bots designed to position a particular user or set of users.
The next feature is the number of different users that mentioned each user; the analogy in a mesh network would be the number of connections to a node regardless of the connection weight. This value gives an idea of the number of people that consider a particular user as relevant.
Finally, the sentiment score is calculated as follows:
This value should be a large positive when the tweets to the user ranked as positive outnumber the rest, when the negative tweets prevail should be a large negative, and when tweets are mostly neutral it should tend towards zero. Number of Mentions
The table below shows the top 20 users sorted by Number of Mentions. The most mentioned user is ‘ProfFaustus’, the account of Craig S. Wright who claimed to be Satoshi Nakamoto, inventor of Bitcoin, himself. Quite interesting is the fact that some users in this list have a large number of mentions, but most mentions come from a small crowd. From the top five users, tweets to ‘ProfFaustus’ display the highest positive sentiment. Users Mentioned by the Largest Number of People (a.k.a. most connected nodes)
Craig Wright is also the user mentioned by the largest number of people, followed closely by ‘jack’ (Jack Dorsey co-founder and CEO of Twitter), ‘APompliano’ (a BTC supporter), ‘rogerkver’ (Roger Ver, CEO of Bitcoin.com and Bitcoin Cash supporter), and ‘LukeDashjr’ (BTC developer).
It is much more obvious in this table that there is a big disproportion of the number of mentions of Craig Wright to the number of people that mentions him. This raises suspicions, at least for me, if the conversation about him is genuine.
User ‘jack’, co-founder and CEO of Twitter, received a lot of attention from cryptocurrency fans when he passed the ‘Lightning Torch’. Given the importance of Jack Dorsey on Twitter, is not surprising that he is among the most connected users in this analysis.
Roger Ver is among the top 5 users by this metric but its sentiment score is the lowest. It is well known that he receives a lot of criticism from the BTC and BSV crowds for supporting Bitcoin Cash (BCH). Most praised/loved users
The sentiment score allows us to see which users are the most loved. We should be careful with this metric as it is very sensitive to the size of the crowd following a particular user. The table below shows only the top 20 users with highest score sentiment, but only from those in the top 100 places when sorted by the size of the crowd that mentions the user.
We find ‘lightning’, the account for Linghtning Labs, developers of the Lightning Network at the top of the chart with a significantly large sentiment score. ‘TiKawamoto’, a BTC supporter and maximalist in second place and ‘sklyark_cash’ supporting Bitcoin SV in third.
As you can see, the rank of the influencers changes with every metric. Conclusion
Through this study, we can see the different characteristic behaviors of the crowds when segregated by the topic they talk about. We also found the most relevant influencers in the Bitcoin sphere using different metrics.
It is important to highlight the importance of investigating the validity of the sources of information we consume to avoid falling in the multiple manipulations tactics used to deceive and increase the popularity of a topic or character.
My intention was to present more facts than personal opinions about this topic, so you can draw your own conclusions.
I will release the code used for this study once I find the time to clean it up, the data sets will be included as well.
A big thank you if you read this far!
People are using the BTC blockchain to secure other tokens and software projects. They seem to need the base layer (rather than lightning) for the best security. It appears these uses may make the failure to scale even worse for BTC. I see this making fees rise without actual transaction volume increases. A flippening where BCH (or another mined blockchain token that can scale) grows higher in price than BTC will be needed to move miners to a chain that scales (hash power follows coin value if coin reward numbers are equal). Will high fees be enough to destroy the value of BTC? I'd rather see a rise in BCH than a fall in BTC, but, they may not have much time left to raise the blocksize of BTC (or some other drastic solution?) if they want to save it's value.
Thanks for considering my ideas,
- Big Bubbler
For everyone who is interested, I am going to keep track of my struggle to win back my losses.
I got acquainted with cryptocurrency about a year and a half ago. My start with crypto was anything but good, haha. One day I saw a video on YouTube about Bitconnect. Of course I knew what Bitcoin was, had heard a lot about it but it did not really interest me at that moment until I came across the Bitconnect movie.
Like many, I could not believe it was so easy to make money. Blinded by greed, I bought Bitcoin ($ 50,000 in total value) and started Bitconnect. Now that I think back to it, it is total madness that I risked all my savings that I had built up in 1 second. From this savings I wanted to have a super holiday the next year with my 2 little sons. My goal with Bitconnect was to make this holiday cheaper by earning extra money, total madness of course.
It's funny to think back now that all those years that I was saving, paid attention to every dollar and felt bad when I only took $ 10 of my savings while with Bitconnect I blindly put in my total $ 50,000. .. madness madness madness when I think back to it now. In the meantime that I had invested in Bitconnect, I started to seriously deepen myself into cryptocurrency. During this period I started to seriously wonder whether it is possible at all what Bitconnect did, where did that money come from? That is also the moment when I started to shit in my pants and already knew a little bit about what was going to happen (I wish I was so good at estimating when I entered the lotto numbers haha).
I'm not sure what date it was and frankly I do not want to know that anymore but that one morning I woke up and I suddenly saw 111 BCC (Bitconnect Token) in my wallet. At first I was actually happy because I knew that BCC had a price of $ 450 per piece, that joy became less when I saw that the price had collapsed to $ 9 / $ 8 each. Bye-bye savings. AND WHAT NOW? Now I have set up a roadmap for myself to recoup this $ 50,000, this is going to be my goal for this year. And I want to update it here as much as possible for everyone who likes to read. I wish everyone a nice day and watch out! Do not let the same thing happen to you as what happened to me.
According to a study by CNBC, which talked about the profitable business that Coca-Cola Company shares acquired ten years ago with respect to their acquisition price and the current profitability that they could report, it was indicated that they showed growth up to three times its nominal value.
In that post, they talk about a $ 1,000 investment in a Coca-Cola share ten years ago, which would bring to $ 15,000 as a final price by February 15, 2019, allowing the money invested to be multiplied by almost three.
Now if instead of acquiring an action of that type, that same amount would have been destined to acquire $ 1,000 in the Bitcoin cryptocurrency, on February 15, 2019 would report the not inconsiderable sum of $ 9.2 million USD at the average price of $ 3,600 per spot.
Bitcoin for the year 2010, had an average price of $ 0.39 per unit.
Although the traditional markets are less volatile than the cryptocurrencies, the historical price of Bitcoin shows us that despite the stake anchored to the cryptocurrency by investors and traditional economists reluctant to the new markets of crypts, they are not so profitable nor Even when the boom of the nineties occurred with the so-called "dot.com" actions or in Spanish, the boom in the actions of the web companies when this disruptive technology was emerging.
Even the actions of major technology companies such as Amazon, Google and Apple, have historically not reported such performance in the same period of time from the time of their appearance until today.
The case more similar to Bitcoin in growth, expansion and contraction, has been Amazon. The company of Jeff Bezos managed to rise up to 1.066% at the close of 1998 before falling back by 82.59%.
Bitcoin experienced something similar in 2017, growing by 1,400% and then falling by 80% at the beginning of 2018. Even so, Bitcoin in terms of profitability and prices maintains better profit margins in relation to Amazon.
And this is just the tip of the iceberg. If that investor had bought his $ 1,000 in Bitcoin at the beginning of 2010, when the first transastions of the cryptocurrency occurred at an average price of $ 0.003 cents each; that same amount would today be the astronomical sum of $ 1,200 million dollars at the current price of February 15, 2019.
The scenario is even more interesting if that same amount had been sold at the beginning of December 2017, when the Bitcoin reached its maximum peak of $ 19,500 per unit. The $ 1,000 investment would report to the new criptomillonario the not inconsiderable sum of $ 6.5 billion.
Despite all the reluctance about the cryptocurrency and its accusations of fraud, hacking, volatility and financial bubbles to which it has been cataloged lately; Bitcoin has shown that it has generated a new finance model that has already touched large corporations, financial groups and traditional investors, by applying uses of its underlying technology to generate new financial solutions and 'modern' ways of generating wealth.
What emerged as a crypto-synchronism, has become an appealing asset for great institutional whales, who wait for the opportune moment to enter the game in an 'open' manner, which would imply historical maximums of their prices and therefore, for those investors of Bitcoin's early age and / or the current winter crypto; generate very decent returns in the next ten years.
All this indicates that in spite of its volatility and all the bad publicity surrounding Bitcoin, investing in crypts responsibly is much more profitable than an action of any company that is listed on the big stock exchanges of the world. After all, actions also go up and down and are manipulated as traditional economists say, to Bitcoin.
On Feb. 15, the Dallas-based mobile gifting company Swych announced it will be accepting cryptocurrencies for payments. Starting next week, instead of using traditional payment processors, Swych users will be able to pay using decentralized digital assets such as BCH, LTC, ETH, BTC, and ETC. Swych Mobile Gifting App to Add Support for 5 Cryptocurrencies
The popular mobile application Swych allows people to give virtual gift cards from over 600 well known retailers and if the person receiving the gift doesn’t like the store they can easily swap the virtual funds for another retailer. Swych was founded in 2015 by Deepak Jain and is backed by capital investment from UAE Exchange Group, a global money transfer exchange, and payment solutions provider. The gift cards available stem from retailers such as Toysrus, Old Navy, Macy’s, Nike, Target, Best Buy, Gap, Banana Republic, Sephora, Nordstrom, Amazon, and more. Essentially Swych allows users to purchase and send gift cards similarly to platforms like Egifter and Gyft. However, the mobile application allows people to effortlessly switch gift cards if they don’t appreciate the particular brand originally gifted.
Swych uses payment providers like Apple Pay, Paypal, Amazon Pay, and Google Pay. But according to an announcement on Friday, the company will be accepting five cryptocurrencies next week. Swych users will be able to pay with bitcoin cash (BCH), litecoin (LTC), ethereum (ETH), bitcoin core (BTC), and ethereum classic ETC. Deepak Jain, CEO of Swych, explained during the announcement that gift cards are a de facto choice among consumers and some of the same consumers also want to spend digital currencies.
“We feel we are ahead of the game considering most retailers have not yet chosen to accept crypto payments,” Jain stated. “In keeping with Swych’s mission of providing our consumers with choice and flexibility, we’d like to provide new options based on our customers’ needs — crypto integration is one of the many requests we’ve received. ‘Cryptocurrencies: The Go-to Choice for Consumers’
Jain says Swych is the only application that allows consumers to send gift cards by simply using a mobile phone number. Swych also got into blockchain technology last year and has rolled out a cross border gifting platform that’s built on top of the Stellar network. Jain believes blockchain technology and cryptocurrency solutions will make the digital gifting platforms’ operations become far more efficient. “While digital gifting is undoubtedly an amazing use case for blockchain, so is payments and I think cryptocurrencies are gradually going to become the go-to choice for consumers to make purchases on the internet,” Jain emphasized.
“For crypto holders, this means they can essentially use their crypto holdings for gift cards that are spendable at hundreds of different retail outlets,” Jain conceded. “There’s no doubt that this will be attractive to a large portion of the community, irrespective of whether the market is up or down.”
The government-owned post office in Liechtenstein has begun offering a cryptocurrency exchange service. Initially, the post office in the capital city of Vaduz will sell BTC, with four more cryptocurrencies planned. The service is in partnership with Zug-based Värdex Suisse, the operator of “the largest crypto ATM network in Switzerland.”
Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive RegulationsPost Office Selling BTC
Liechtensteinische Post AG announced on Feb. 15 that it has begun selling BTC at the counter of the post office in the capital city of Vaduz. “In search of new business opportunities, Liechtensteinische Post AG has decided to offer a new exchange [service] of cryptocurrencies in its post offices,” Friday’s announcement reads. The Post elaborated:
After an introductory phase, the offer will be extended to other post offices and the exchange of additional cryptocurrencies … It will then be possible to change bitcoin (BTC), ethereum (ETH), litecoin (LTC), bitcoin cash (BCH) and ripple (XRP).
The announcement further notes that, after making a BTC purchase, customers will receive “a physical crypto wallet” which includes both the public and private keys.
Founded in 1999, Liechtensteinische Post AG comprises nine post offices and three postal partners, according to its website. Prior to Dec. 31, 1999, the postal service of Liechtenstein, a country with approximately 38,000 people, was managed by Swiss Post, the national postal service of Switzerland which is a public company owned by the Swiss Confederation. Now Swiss Post owns 25 percent of Liechtensteinische Post and the government of Liechtenstein owns the remaining 75 percent.Partnership With Värdex Suisse
Liechtensteinische Post explained that Swiss Post had always been in “the conventional money exchange business,” therefore “nothing is different” by adding cryptocurrencies to the existing service.
This new service is enabled through a partnership with Zug-based Värdex Suisse AG, a subsidiary spun off from Bitcoin Suisse AG at the end of 2017 in order to meet the growing demand for POS solutions, Liechtensteinische Post detailed.
“Värdex is Switzerland’s largest, financially regulated blockchain and POS network operator,” the company describes itself. It is a member of the Financial Services Standards Association (VQF) and part of the Crypto Valley Zug community.
Its website also states that “Värdex Suisse is operating the largest crypto ATM network in Switzerland,” listing a total of 26 locations, all of which support BTC, ETH, and LTC. According to Coinatmradar, there are 48 cryptocurrency ATMs in Switzerland. Zurich has 13 machines, the most in the country, followed by Basel with six machines and Geneva with five. Other major ATM operators in the country are Bity with six locations and Bitc with 14 locations.
What do you think of Liechtensteinische Post selling cryptocurrencies at post office counters? Let us know in the comments section below.
"Big Mean Sexy Daddy Roger"? Honest.cash turns to Dr. Craig S. Wright for answers to questions you didn't want to ask.
Roger Ver has made the BSV community's mental health crisis much worse.
Beginning with his early adoption campaign and through his second year as a proponent of Bitcoin Cash, the BSV community has experienced an increase in anxiety, suicide, depression and other mental health problems.
Roger Ver's negative impact on our communities mental health extends to the intimate sexual lives of many people as well.
What is "Post-Traumatic Roger Disorder"? How does Roger Ver's adoption spreading, scaling goals, and other unhealthy behavior towards BSV reflect deeper on systematic cultural problems in our communities around gender, sex and intimacy?
In an effort to answer these questions I recently spoke with Dr. Craig S. Wright. "Papa Craig" is the founder and directory of nChain, BSV's devision for Erotic Arts and Sciences. Wright is perhaps most well-known for single-handedly creating BSV with the help of his sugar daddy, Calvin Ayre. He's also a avid poster of articles on Medium. His most recent article is "Why the state should take my money".
How has the Age of Roger impacted the BSV communities collective mental health and also their intimate lives?
It has had a big impact. For some people Roger's constant stream of adoption has created a type of PRSD - what I call "Post-Roger Sex Disorder". Roger has created feelings of fear, loathing and nausea. People just don't want to have sex. This would mainly be seen with the men in our community who are just appaled at how sexy Roger Ver is. He takes what is often a positive male attribute of confidence and pushes it way over the line into a rape-like rapte-entitled kind of arrogance.
The news media is part of the problem as well. The news is full of stories about Bitcoin Cash. They don't really like to talk about Bitcoin SV. When you have this media obsession with BCH, with the usual "all-bitcoin" war worship and racism, as well as economic disparities and the way that corporations aren't in control, it really sucks the life-span out of a person. Never mind how this moment with Roger Ver is also reflected by many woman who are just dysfunctional and chronically frustrated, who don't know how to properly approach men, and the lethally unhinged "incels" in our community.
Most BSV-ers of conscience, and decent people more generally are appalled by Roger Ver's personal and public behavior. Yet, there are others who are aroused by Roger Ver and see him as a symbol of sex potency and power.
Yes, Roger Ver is a turn-off for many people in our community. But for some people they are turned on and titillated by Roger Ver. They are not suffering from Post-Roger Sex Disorder. Sex does not always turn us on the way we think it ought to. A lot of people are attracted to bad boys. I emphasize "people" because it is both men and woman who are aroused and attracted to and titillated by Roer Ver. There is definitely a homoerotic attraction for Roger being experienced by his usually very homophobic male supporters. Both men and woman really do find Roger to be an appealing "bad boy" and "evil daddy" who's really hot.
In his way Roger Ver is the daddy of a dysfunctional Bitcoin family. And of course evil can be very sexy. People are just charged up by him and some of those people are driven to commit great crimes by that kind of charisma.
Roger Ver is a libertarian freedom fighter and aspiring tyrant. The fascist conception of bitcoin.com is very masculine in the most crude and basic sense. In this way of thinking about politics and society Roger leads a political cult whose members want to literally be inside of him, to become him, to have libidinal relationship with the Great Leader. This includes both men and women. The fascist aestethic can be very erotic for the followers.
Roger's supports want to be spanked by him. Roger's supporters want to be hugged by him. They want to be with him. They want to identify with him.
One of the things about evil daddy is that he shames you. This touches your sexuality very deeply. Roger does this all the time with his debates against people we like.
[You wrote about the allegations] that Roger Ver's former friend, and your sugar daddy, Calvin Ayre practiced "interracial cuckolding." This is all very revealing given that Calvin worked for Roger Ver - a public figure and now CEO of Bitcoin.com whose behavior and politics are very racist. Can you explain more about this kink of Calvin Ayre's?
What is cuckolding? It's an old english term that actually derives from the French word "cucu" which is of course the cuckoo bird who lays her eggs in another bird's nest.
The cuckold (Calvin Ayre) is someone whose partner is having sex with someone else. In previous eras in many cultures this was always considered a subject of great humiliation.
The cuckold is most often a man. Sometimes it can be a woman who would be a "cuckqueen" (Rona). Some women are very turned on by her spouse or partner having sex with others, but it's mostly defined as a male whose wife is having sex, with other men.
But cuckold is mostly used in a consensual way. Calvin wants it to happen. He's turned on by it. It's exciting.
What advice to you have for people who are experiencing "Post-Roger Sex Disorder"? How can they salvage their intimite lives in a time of such fear, anxiety, violence and worry?
First of all, I believe in the importance of pleasure. And there are too many people in the BSV community who denigrate sexual pleasure with being selfish.
Pleasure when you're sharing is the opposite of selfishness. You're really reaching out to your fellow humans. That's the beauty of life. I also think it is important to honor pleasure and to honor pleasure givers (like Roger).
It is also important to honor our own sexual desires and the pleasure of your partner or partners. If your partner has a cuckhold fantasy like Calvin Ayre does, or some other fantasy that you don't like, try not to shame them. Try to let them talk about it and try to hear them out. Of course, do not do anything that bothers you.
I think that there are so many people who shame each other over our human sexual desires. It's kind of a favorite BSV pastime. I think that that contributes to a sex neglective culture.
Dishonesty is an effective strategy used to fool people every day. From sophisticated social engineering efforts like the attacks on BCH in social media and the Fox News Networks assault on many truths to the U.S. President's obvious dishonesty, The People of the world are under attack on many fronts. I have been awed recently as I realized how effective dishonesty can be.
Though emperor-Bitcoin-BTC is wearing no cloths (lacks fundamentals), many people still think it is the real "Bitcoin". A huge effort to fool people into thinking this has been so effective, even on a BCH-focused site like HC, most of the people who read this may think I am the foolish one. Of course all sides of most issues tend to do it, so, maybe I am falling for a different set of lies? Kinda like freedom is never free and must be worked for constantly, I think truth requires a similar ongoing effort to be discovered and fought for.
Thanks for considering my ideas,
- Big Bubbler
Silkroad was to Bitcoin as Tokens were to Ethereum.
If a currency gains adoption, many altcoins will follow suit. Many cryptocurrencies can do what Bitcoin did in 2010, some currencies can do what Ethereum did in 2017.
The important question is:
What can you only buy with your cryptocurrency?
What makes adoption necessary, inevitable, desirable, specific?
This is the use-case you seek.
Ubiquity is not the use-case of Bitcoin Cash, yet—and it may never be without a stepping stone.
In previous part, I shared what is interesting about content sharing networks that incorporate direct market mechanisms such as upvoting, tipping, paid comments and paid content (paywall). In this part, I will focus on upvoting, because it allows people other than content creators to discover and invest in great content and make money if they are right. I will share my experience and code of a front-running bot (running on yours.org) that does this semi-automatically.
Remember this picture:
In the votes section, you can see how the voting system works. The last person to vote pays 25 cents and they are distributed among the previous voters. Here, the previous voter earns 23.9 cents, the one before 22.8, etc. In this distribution, the first quarter always makes money (sometimes more than first quarter, if someone votes more than once). So here, there are 24 voters, so the first 6 will always make money. The first vote is „free“ and it is given to the author of the article. What is front-running?
The term originates from the era when stock market trades were executed via paper carried by hand between trading desks. The routine business of hand-carrying client orders between desks would normally proceed at a walking pace, but a broker could literally run in front of the walking traffic to reach the desk and execute his own personal account order immediately before a large client order.
Front-running normally means using or even abusing an information that is not public, but has since been used more widely.
This topic is especially important in blockchain based systems. Imagine there is something as a „market order“ executed on the decentralised exchange settled by smart contracts. „Market order“ means „I would like to by X amount of an asset Y, whatever the price might be“. Now imagine you see this order in the mempool, before it is mined into a blockchain. Yes, you guessed correctly, free money. You put a limit buy order and a limit sell order, pay higher fee to be included in the blockchain before the poor guy’s market order and you made a profit. If you are a miner, you can do other things, you can reorder transactions however you like, so in the case you understand the underlying smart contracts and transactions, you are in for an additional treat.
To be honest, most current blockchain applications try to combat front-running. ENS (Ethereum Name System) does blind auctions. Most DEXes only support limit orders, not market orders. Investing into content – is it front-running?
So am I doing front-running? Not in a sense that I know something that others don’t – I don’t. What I do is I guess what articles are successful and I put my vote as soon as the article is out and noticed by humans. And there’s someone that is more capable in doing that than me – a machine. So if I wanted to bet that a drawing by Satoshi Doodles is going to be successful, I’d rather be among the first in the row – because the first quarter makes money.
I am not front-running on any information that is known only to me – everyone loves Satoshi Doodles. But so do people like the writings of Craig S. Wright, which honestly half of the time don’t even make any semantic sense, he usually writes like a high school essayist, trying to convey a „controversial“ idea by touching on things that the reader would not understand, because they miss the context. I don’t know why, but Craig S. Wright gets upvotes too and I invest in his articles, because I want to make money, not because I like them (contrary to Satoshi Doodles, which I like).
So picking the right authors is not about picking what I think is good, but what other people might consider good content (a Schelling point). It is a form of popularity contest, where you are rewarded more if you conform with the masses among the first. I am front-running the mass opinion. In this sense, it is contrary to front-running, because I am extrapolating on publicly known information, not using unknown information. What are the technicalities?
The way yours.org works is that they do Bitcoin Cash SV transactions on-chain for every vote. So if I click on vote and pay 25 cents, these 25 cents are sent on-chain to all the previous voters. I used to make fun of people who were complaining that I pay on-chain for coffee in Bitcoin Coffee (part of Paralelná Polis). I would show them some of the 20KB transactions distributing fractions of a cent on-chain for an article vote. It would always make them crazy.
I picked puppeteer, mainly because it is developed by Google Chrome team and it is fully scriptable Chrome browser. I guess yours would always work in Chrome, so that would make it a nice long-term solution. That also means that unless the platform is significantly changed on the outside, it would follow all the upgrades of the backend. I didn’t need to change a single line of code after the fork from Bitcoin Cash to BSV. I was merely clicking buttons, I only had to get some BSV tokens, which I didn’t have, because I got rid of all BSV tokens after the fork (which turned out to be a great decision, paid for a coffee or two).
This is not a high frequency game, there are people voting and they are slow. Also, I don’t really need to be first, I need more to be under the radar, so the operators don’t implement some CAPTCHAs (which are BTW very easy to go around these days – AI has become better than us in CAPTCHAs and you can buy services to go around them).
Next was picking of the authors. I went through the front page and found people who were consistently upvoted. I won’t share my list, but if you are on yours for a while, these are the usual suspects. A development update here, some news from the crypto world there, good commentators and even some crazy people that are building a following. After the fork, the platform had a reduction in users and I realised that I am deciding the content on the front page. It cost me two dollars (that’s the investment budget that I put in after the BSV fork). Most of the budget is returned to my other accounts. Why? If an author writes an article and my three puppet users vote on this article, there are four voters (the author gets the first vote). The cost of first user is 25 cents (it all goes to the author), the second user pays me back 12.5 (through the first account) and the third user pays a bit to both. So while it’s true that I pay 75 cents, I get immediate refund of around 30 cents. Then every user that votes (maybe because they find the article on the homepage – this is usually enough to get a user on a homepage) pays me back. Was it worth it?
Did I earn the cost of my time back? No, I haven’t. Being an entrepreneur, this is a very low return strategy for me. The fact is that I love programming, so I enjoyed the time invested in thinking about this and actually making it happen. And if there are content networks that implement market principles, I wanted to be among the first that make use of these markets and I wanted to make them more efficient at discovering content. There’s an interesting positive feedback loop – what is popular is what I make popular. And I make popular what would probably be popular. Positive feedback loops can be used in many areas of life.
I didn’t make money on all posts – not by far. But before the fork, it paid for one or two sushi dinners per month. Thankfully, there was a portal that allowed me to order sushi paying with BCH that I made directly using Bitpay – I bet those were the largest (in kilobytes) transactions they’ve ever seen.
I also wanted to play with direct on-chain applications and I decided to combine it with a small dopamine injection, so I wrote a program that would withdraw the money I made once a week to my wallet. It happened on Sunday and it was my small celebration, although it did not happen every week, some weeks, my investments lost money. I didn’t redo this script for BSV, but I guess it could now be used on honest.cash which uses BCH. Honest.cash allows you to set a different address for receiving money from votes directly though, so it might be of limited use actually. Conclusion
Some comments on the first article was about what is the best coin, how shitty is BCH ABC / SV, or „insert-my-coin“ is the best. I don’t care, that was not the point, the point was that there is a way to reward content creators and people who discover content, that cryptocurrencies make a great part of this infrastructure (otherwise authors from crazy dictatorships like Venezuela would not be able to receive any money – and they can really make a living out of writing high quality content).
I really like yours.org as an experiment in this regard. There are several problems with the approach of yours – by making it easy for someone to promote their own articles (opening several accounts and upvoting is basically free – there are only some small fees and one could be on the homepage for a long time). The difference between several votes on one article by one user and more users does not make too much sense (anyone can create more than one account). Other than that, I have certainly learnt a lot about how these markets could operate and what emerges when you create a market structure based on content.
I wish yours.org, honest.cash and other such platforms all the best and I hope we have not seen last of those. The code
You can find the code on my github. Please note that this is an unsupported software and it might stop working at any time with any change on the side of yours.org.
If you appreciate my work and found the code or the article interesting, I would appreciate any tips to my honest.cash account. Before you go
If you like my writing, please note that I am currently working on a book called Financial Surveillance and Crypto Utopias, where I explain what happened to banking secrecy, how the current payment networks are regulated and how crypto can solve these problems, thus creating the unique value proposition for cryptocurrencies.
Other peoples’ mistakes are the best value proposition for competing projects and this is the case for old-school financial sector vs cryptocurrencies. Read more about the project and sign up for updates and releases here