Earn cash for your content on Honest Cash

Honest Cash - social network that pays creators based on Bitcoin Cash (BCH)

Honest is a social network where you can earn Bitcoin Cash (BCH) if you create value. Our mission is to improve the quality of content on the internet and to get people paid for doing what they love.

You earn Bitcoin Cash when your content is upvoted on Honest Cash.

You can earn Bitcoin Cash by voting on good content early.

Your opinion is important, regardless what position do you represent. You can make your content uncensorable on Honest Cash so it can never be censored or removed.

There’s a different kind of advertising taking place on the Bitcoin Cash (BCH) network, using an application called Memopay. The ad campaign platform employs a novel approach to advertise someone’s website, product or service by sending a small fraction of BCH to thousands of public addresses with an encoded OP_return message. Also read: BCH Devs Lock in Code for the Chain’s Next Upgrade: Schnorr and Segwit Recovery Memopay: Onchain Advertising The internet has completely transformed the advertising business into a whole new medium and programmable money is also going to create some new methods of sharing promotional content. For instance, an application called Memopay plans to do just that with its service that offers promoted onchain advertising using the BCH network. Memopay’s website explains that advertisers can reach out to bitcoiners by introducing products and services through onchain messages. The platform uses an OP_return transaction which gives an individual or organization the ability to tether a small message to the transaction and certain block explorers can read the messages. “Memopay delivers your ad message directly to the wallets of thousands of active Bitcoin Cash users,” explains the service. Memopay reaches out to bitcoin cash holders by sending small fractions of dust to an active address with a message tied to the funds. Basically, Memopay sends thousands of transactions by sending a small fraction of BCH dust to active BCH wallets. The service believes each ad message delivered along with a small amount of bitcoin cash “pays for attention.” So far the business has run about six onchain ad campaigns that have added up to a total of 88,063 ad messages delivered. A typical transaction could be like 0.00001111 BCH (1111 satoshis) and Memopay says there have been 95,623,876 satoshis distributed. For instance, the company Cyberian Mine ran a campaign with Memopay because they wanted to drive awareness to potential crypto-focused clients. According to statistics recorded by a Bitdb query in real-time, 10,000 ad messages were delivered and Memopay claims the company saw a 110 percent spike in organic traffic to their website. “You only pay when they click to visit your website,” the website details. In another instance, Memopay tied an editorial that was shared online and delivered the link to 1,000 BCH holders. The company reports that the campaign saw a 2.5 percent click-through-rate (CTR) already after 24 hours. Memopay is also integrated with three of the major BCH block explorers developed by Bitcoin.com, Btc.com and Blockchair. An example of Cyberian Mine’s CPS ad campaign using Memopay. The New Advertising Target: 16 Million Public Bitcoin Cash Addresses The process to run a campaign is fairly intuitive as the user simply chooses an ad mode to drive traffic to a website or pay for clicks only or CPS to drive awareness by paying for each delivered message. Then they have to fill out the request form and create a custom advertising message that will attract consumers. After that, the user funds the provided address with BCH to start the ad campaign. Memopay users then receive a link to the ad campaign’s dashboard to see the real-time progress of the promotional content. The campaign dashboard. Memopay says there are many benefits to using the service and the top attribute is a direct connection to a cryptocurrency audience. There are 16,984,512 BCH addresses and each and every one of them is open to the public’s view. This gives the project transparency says Memopay as “each contact with Bitcoiners is recorded on the Blockchain and can be easily checked.” “[Memopay] is keyword agnostic and customers pay the same price for any keyword used,” the startup notes on the website’s benefits description. “In both Cost-per-click and Cost-per-send campaigns you’ll know exactly what the price is — Ad messages with an active link will be stored on the Blockchain forever.” Paying for attention by using OP_return transactions that will be seen on a blockchain explorer is not new and has been done for years. TD Ameritrade created this picture last year and embedded it into the BTC chain. Paying for people’s attention in the advertising business is basically the name of the game but using blockchain technology adds a different flavor. Advertising using OP_return transactions has been done many times in the past in various ways. For example, back in April of 2018 the online broker for online stock trading and financial management service TD Ameritrade used BTC OP_return transactions to advertise the company. Its logo surrounded by a digital flag is forever etched into the BTC chain as the firm used 68 transactions to create the message. “The blockchain is an amazing piece of technology — And we’re proud to be part of it — Forever,” the banking institution stated at the time.
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
Coinbase announced on Tuesday that users of its wallet app can now directly store their bitcoin cash. The app update will be rolled out to all iOS and Android users in the next few weeks. Both Cashaddr and legacy address formats are supported alongside Bitcoin Cash Testnet for developers. Adding BCH Support San Francisco-based digital currency platform Coinbase announced on Tuesday that its noncustodial wallet app now supports bitcoin cash. Siddharth Coelho-Prabhu, Product Lead at Coinbase, wrote that “Starting today, you can now store your bitcoin cash (BCH) directly in the Coinbase Wallet app.” However, he elaborated: The new wallet update with bitcoin cash support will roll out to all users on iOS and Android over the next few weeks. BCH support is activated by default — all you need to do is tap ‘Receive’ on the main wallet tab and select bitcoin cash to send BCH to your Coinbase Wallet. Coelho-Prabhu emphasized that the wallet “supports both newer Cashaddr address formats, as well as legacy addresses for backwards compatibility in all applications.” It also supports “Bitcoin Cash Testnet to aid developers and power users,” he detailed, adding that his team also plans “to add support for the JSON Payment Protocol in the future.” The security of the Coinbase Wallet app is more advanced than its custodial web wallet counterpart. According to the announcement, users’ private keys are encrypted and stored on their mobile devices using a Trusted Execution Environment (TEE), or Secure Enclave technology. “This specialized hardware is considered the most secure way to safeguard private data on mobile devices,” Coelho-Prabhu claims. The BCH support follows the BTC support announced on Feb. 5. Coinbase Wallet previously supported only “ethereum, ethereum classic, and over 100,000 different ERC20 tokens and ERC721 collectibles built on Ethereum,” the product lead noted. Other Developments A week before BCH support was added, Coinbase announced that users “can now backup an encrypted version of your Coinbase Wallet’s private keys to your personal cloud storage accounts, using either Google Drive or iCloud.” Coelho-Prabhu described, “This new feature provides a safeguard for users, helping them avoid losing their funds if they lose their device or misplace their private keys.” However, the optional feature was met with a large amount of negative feedback on social media. Tallycoin developer DJ Booth tweeted, “This is a terrible idea and encrypting with a user-chosen password is even worse. Most people cannot choose/remember strong passwords and generally reuse passwords.” After hundreds of tweets disapproving of the new feature, the company responded: “If you feel uncomfortable storing an encrypted backup in your cloud account, you can keep a copy of the recovery phrase (mnemonic seed) by yourself.” Then, on Tuesday, Coinbase announced that it has acquired Neutrino, which describes itself as a blockchain data intelligence platform. “By analyzing data on public blockchains, Neutrino will help us prevent theft of funds from peoples’ accounts, investigate ransomware attacks, and identify bad actors,” explained Varun Srinivasan, Coinbase’s director of engineering. “It will also help us bring more cryptocurrencies and features to more people while helping ensure compliance with local laws and regulations.” news.bitcoin.com
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.
Bitcoin Cash supporters are all about spreading adoption, and many enthusiasts are relentlessly trying to get people to try BCH and merchants to accept the cryptocurrency for payments. Right now, there are three regions in the world with a significant number of BCH merchants: Slovenia, North Queensland, and Japan, areas which continue to add a slew of new brick n’ mortar stores every day. Three Regions With Lots of Bitcoin Cash Accepting Merchants Bitcoin cash merchant acceptance is growing. According to Marco Coino, there’s close to 1,000 retailers willing to accept BCH as a means of payment for goods and services. These merchants can be located all around the world and each country displays the number of retailers who accept BCH in the region. As BCH merchant adoption continues to grow, there are three specific regions in the world that have dense populations of retailers accepting the decentralized cryptocurrency. Slovenia At the moment, the Republic of Slovenia has the most merchants that accept bitcoin cash. According to geo-mapping application Marco Coino, the sovereign state located in southern Central Europe has 207 active BCH retailers who accept the cryptocurrency for payments. Slovenia has always been known for doing business as the country is in the middle of important European cultural and trade routes. Slovenia has 207 merchants according to Marco Coino. The country has always been crypto friendly as well and most of the BCH merchants can be found in in the capital of Ljubljana, home to an area that is known as ‘Bitcoin City.’ BCH accepting merchants in Slovenia include the Asan Chill & Lounge Room, the Malibu Bar, AHZ Design, Venera Shop, the Blackout Bar, Potokar, Hot Horse, Soba’Room promenade bar, and Blockmaster. ‘Bitcoin City’, Slovenia. North Queensland Many bitcoin cash fans are probably familiar with the name North Queensland because residents have posted so many many stories about the region’s BCH acceptance, it’s hard not to notice them. At the time of writing, this northern region of Australia is home to 56 BCH accepting merchants. North Queensland has a large Bitcoin Cash meetup, and the area also hosted the country’s first BCH-only automated teller machine. North Queensland has 56 merchants according to Marco Coino. Right now BCH supporters can purchase meals, get their car fixed, and even get work done on their home by paying for the services in BCH. Merchants accepting BCH in the northern part of the Australian state include Bel Paese Pizzaria, Elements Studio, RJ’s Mechanical, Dawson Moving & Storage, FNQ Computers, and Toasted Bean Coffee. A denser area of North Queensland BCH-accepting retailers is located in the middle of Condon, Kelso, and the Townsville Conservation Park. North Queensland BCH supporters are extremely passionate about spreading bitcoin cash adoption. Japan Ever since Japan legalized cryptocurrency payments, the region has become a digital currency hub. Japan also has a ton of BCH merchants that accept the cryptocurrency for goods and services. According to the Marco Coino application, there are roughly 56 BCH accepting merchants in Japan. Japan has 56 merchants according to Marco Coino. Retailers accepting the cryptocurrency here include the Village Hostel Namba, Hikari Clinic, Ruins Minakami, Good Heavens, Rakan, Yakitori Wine Bar, Ginza Secret, Organic Hair Salon, So Law Office, Cafe de Perle, Soul Food House, and Two Dogs Taproom. The Tokyo BCH meetup is extremely large as well, as the group currently has 1,253 members. One member of the Japanese BCH community is Akane Yokoo, a passionate supporter who is responsible for spreading a lot of merchant adoption throughout Tokyo. Akane Yokoo is responsible for kickstarting a lot of merchant adoption throughout Tokyo Spend & Replace: Kickstarting the Peer-to-Peer Electronic Cash Evolution Other global runners up that are densely populated with BCH-accepting retailers include the U.S., Colombia, Barcelona, Belarus, and London. Bitcoin cash merchant adoption continues to thrive and the many retailers listed on Marco Coino does not include the vast array of merchants using Bitpay and Coinbase merchant services. Many BCH supporters believe in the idea of “spend and replace” when it comes to using the decentralized cryptocurrencies. Supporters believe a deflationary currency can still be spent and replaced over time in order to kickstart its evolution as a solid means of exchange. At the moment Slovenia, Japan and North Queensland BCH supporters are taking the lead by continuously spreading more adoption and merchant acceptance. news.bitcoin.com
@honest_cash 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. BCH gang! Or w/e provides more freedom to the world. #tobehonest#HCT simpleledger:qpu82de974jvcd2wcrg57s88eu4waenjqvjugknksm
On Feb. 14, a group of Bitcoin Cash (BCH) developers sat down and discussed the featured items for the scheduled upgrade this coming May. According to the programmers, two specific features will be ready for the upgrade: Schnorr signatures and Segwit recovery. The developers also detailed that certain features like nullfail and the 100-byte transaction size will not be ready for the May hard fork. Two New Features Make the Cut for the Upcoming Bitcoin Cash Hard Fork On Valentine’s Day, cryptocurrency developers Mark Lundeberg, Antony Zegers, Amaury Séchet, Jason B. Cox, Andrea Suisani, and Matias Garcia discussed the upcoming May upgrade with the meeting’s host David Allen. The fourth meeting was published to Youtube so BCH participants can listen in on what’s going on with development. At the moment the developers say that two improvementsare ready for the May upgrade while a few others will have to wait until the next fork. “Schnorr signatures and Segwit recovery will be ready for the May upgrade,” the video explains. “Other items such as nullfail, minimal data push, and amending the 100-byte transaction size limit will not be ready for this upgrade.” The team of developers also discussed the testing and planning for the upgradesprior to the hard fork commitment. Examples include setting up a common source for shared information, deciding on common parameters, the concept of a persistent node with mining pool, and other test plans. “There are a number of items that we had looked at over the last few months that were in consideration for the May hard fork — So far it looks like only a couple of the upgrade features will make it, like Schnorr,” explains developer Jason B. Cox. “That [feature] is looking pretty good so far and it’s gotten a lot of code review. There’s the Segwit recovery which I believe is also going to make it.” “Yeah I don’t think there are going to be any more items added, but Schnorr has like one patch to go to make it work,” Bitcoin ABC’s lead developer Amaury Séchet replied to Cox. Mark Lundeberg further explained the Segwit recovery feature, seeing how it wasn’t discussed during the last meeting and not many people know what it is, in comparison with the Schnorr feature. Lundeberg detailed that there is a specifications page up now up at the Bitcoin Cash repository which explains and shows the code to the Segwit recovery concept. Essentially, when BCH is sent to a Segwit address it can no longer be accepted on the BCH chain due to the clean stack rule. Lundeberg explains this feature will make Segwit addresses exempt from the clean stack rule and the coins will be recoverable. Schnorr Likely to Be Added to the Bitcoin Cash Chain First At the moment, the two new features are “frozen” into the BCH protocol so developers can begin experimenting on the testnet. Overall, the BCH programmers seem confident in the two featured upgrades for May and it seems Schnorr signatures may be implemented on BCH well before BTC developers get to it. However, Bitcoin Core developers are currently in the midst of working on Schnorr signatures as well and Blockstream just published a new standard for multi-signature transactions called MU-Sig. The protocol purportedly helps bolster the Schnorr implementation. In fact, Core developer Greg Maxwell boasted about the new MU-Sig protocol on the r/btc forum and made some dubious claims. “Sounds like Bitcoin ABC is rushing ahead to deploy our signature scheme proposal (bip-schnorr),” Maxwell stated. However, many BCH supporters didn’t care for Maxwell’s trolling commentary and explained that he and Blockstream developers “did not invent the Schnorr concept.” Mark Lundeberg said that he was aware of the MU-Sig protocol and explained that “BCH can use this too — it’s something purely on the wallet side; the nodes continue to verify the Schnorr Signatures the exact same way regardless.” Overall, BCH enthusiasts on Reddit and social media seem positive about the upcoming upgrades and many supporters wholeheartedly believe that Schnorr will be implemented before the BTC camp plans to upgrade. news.bitcoin.com
**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 source: news.bitcoin.com
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
We live in a new economy where society is adapting to the new financial operations and processes in the Crypto world, everything is changing dramatically, because there is a need to demonstrate the effective functioning of the new alternatives with respect to finance in these early years of the twenty-first century. In Honest Cash and in all platforms based on cryptocurrency we are committed to do well to be successful and implement innovations and make more attractive the work of creating quality content. I live in a country that has one of the most serious and unprecedented economic crises on the planet, such as Venezuela, but through the world of Crypto I have been able to find authentic financial stability, through my contribution of quality in each of the spaces to which I belong. The possibility that we have is infinite and this awakens a great feeling of emotion in those who once thought that this could be a utopia, but the most relevant thing is that we can already feel the future that lies in our own hands. All of us who come here can shape what we want Honest Cash to become and when I really write I always keep sincerity as the basis of presentation. Words come globally to the intelligent community that is paying attention, which are linked to ideas that can succeed from a partial or definite aspect. The opportunity we have to be pioneers will determine the concentration lapses to drive the best projects.
Not many will convert into this cashless society such as crypto currencies, even though many uses digital cash but through a bank. Some think digital assets will not go far. But when you look up how many active Nodes in America, it’s amazing how’d it grown over time. Many friends of mines call me a fool. I look at them like you don’t even understand what’s a Blockchain by itself. Oh well I’m glad to be aboard of this revolutionary change of wealth and power…
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. https://www.cnbc.com/2019/02/15/if-you-put-1000-dollars-in-coca-cola-in-2009-heres-what-youd-have-now.html http://www.coinmarketcap.com www.nasdaq.com
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.” news.bitcoin.com
62 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. source: news.bitcoin.com
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. In order to do the vote, I have to interact with the platform directly. It contains BSV JavaScript wallet that distributes the funds and also receives profits from tips, upvotes and other ways to make money on the platform. So I decided the best course of action would be to use a headless scriptable browser that would make it easy for me to interact with the platform without needing to do any transaction signing, etc. 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). I wanted to discover the best strategy, but what was important is that I didn’t want to be a jerk to the operators of yours. I implemented very sane delays in order not to put unnecessary load on the server infrastructure of yours. Also, I realised that a lot of the work is done by the client in JavaScript. Also if a user votes more than once, he is at a disadvantage, because previous votes don’t get a cut from the 25 cents. This is simply not a good solution and I created two more accounts on the platform which the bots also use, but not in parallel. 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
Since we have established that the average american is exercising a right when selling their property, who may be exercising a privilege and thus be liable for collecting "sales-tax"? Corporations Corporations do not have any unalienable rights. And a corporation granted in one state has no right to operate in another state until they are granted a privilege ("foreign corporation") for any other state(s). Holders of a Re-Sale Permit Keep in mind that even if one is merely acting in their capacity as a citizen but have (even if just mistakenly) acquired a "Re-Sale Permit", then they are also now liable to collect "sales-tax". A citizen acquiring a "re-sale permit" has effectively converted a right into a privilege and then becomes liable for the "sales-tax"! But all is not lost, one can formally cancel the "re-sale permit" to back out of invoking a state privilege! For Further Education… If interested in more detail, I suggest a nationally acknowledged expert on these matters, Dave Champion's book: Income Tax: Shattering the Myths (which includes details on who is and isn't liable for "sales-tax". ________ Disclaimer I am not an attorney, accountant or CPA. I am not giving tax advice. I am just trying to shed some light on information that most may not be aware of and while we still have some degree of freedom of speech left, I will continue to do so! What anyone does or does not do with this information is up to them. I have no affiliation with Dave Champion or any other entity discussed herein. ______ simpleledger:qq3pgkmnccxtlkrnvadxgnaxdwll2xvjguhf6wtngx
In just 16 short years, the bitcoin block reward will be under 1 BTC, trending toward zero. Not every blockchain works this way. We prefer infinite/unlimited supply growth over time, rather than this traditional approach to cryptocurrency.  Watch the video below to learn why. (Can these be embedded yet?) https://youtu.be/GY5DiglgctQ
There’s something about Bitcoin that stirs up strong emotions in people. Libertarians love it. Anarchists adore it. Cypherpunks crave it. But not all of the emotions Bitcoin engenders are positive. Bankers fear it, politicians distrust it, environmentalists resent it, and a few people, why, they veritably hate it. The People Who Love to Hate Bitcoin When people develop an aversion to something, their immediate instinct is normally to steer clear of it. Be it baths or Bitcoin, if you loathe it, you’re prone to avoid it at all costs. For some masochists, however, steering clear isn’t an option. Like a wobbly tooth they can’t resist prodding, they keep returning to Bitcoin time and again, fascinated and repulsed in equal measure. These subjects are prone to defend their Bitcoin obsession on the grounds that they’re simply trying to protect innocent investors from succumbing to its wiles. “Rat poison squared” as Warren Buffet memorably dismissed it. Their inability to leave Bitcoin alone, however, betrays a deeper fear: that the cryptocurrency may achieve global domination, rendering their life’s work redundant. In this framework, Bitcoin’s haters are less motivated by altruism for the innocent than by an existential dread that, should it prevail, they risk being proven wrong and ridiculed. Like moths lured to an open flame, the following subjects just can’t seem to escape Bitcoin’s orbit. David Gerard David Gerard’s hatred for Bitcoin is biblical. If the writer was terminally ill and Satoshi Nakamoto handed him the cure, Gerard would likely refuse to take it on principle. He fills his days screeching at all things crypto, but reserves particular disdain for Bitcoin, the demon that spawned them all. Best known for his blog “Attack of the 50 Foot Blockchain,” Gerard’s work can also be found on sites like Foreign Policy, where he crafts such impartisan articles as “Forget Bitcoin, Try Your Mattress – Cryptocurrency is about as safe as keeping your money in a sock under someone else’s bed.” He also penned a guest post for The Block titled “The problem with Bitcoin.” The problem with Bitcoin, it transpires, is everything. Gerard finishes his tirade in Krugman-esque terms, opining: There’ll be something called “Bitcoin”, descended from the present software and blockchain, for decades. It just takes two interested people, after all. How much it will interact with the rest of the world is an open question. Most new technologies don’t really go anywhere, after all. Nouriel Roubini Nouriel Roubini “Dr. Doom” is the poster boy for Bitcoin hating, and his proclamations don’t need repeating for the umpteenth time. Like a broken clock, Roubini is occasionally correct – as is David Gerard – in taking down fraudulent ICOs and things that don’t need to be on the blockchain. Both merchants of doom have called wolf too many times, however, giving bitcoiners cause to dismiss their every utterance out of hand. As this publication observed in taking Nouriel Roubini to task over his paean to central bank digital currencies, “Whatever happens to central bank digital currencies, they will never displace decentralized cryptocurrencies, just as Roubini will never displace the gnawing pain that tells him he should have bought bitcoin in 2013.” Paul Krugman Nouriel Roubini isn’t the only economist who struggles to understand the economics of Bitcoin. The man who famously wrote: “By 2005, it will become clear that the internet’s impact on the economy has been no greater than the fax machine’s” is similarly skeptical about Bitcoin. In 2013, he penned a NYT op-ed titled “Bitcoin Is Evil” and has been sporadically sniping at it ever since. “BitCoin” as he calls it, is backed by nothing, has no intrinsic value and “Its price rise has been driven purely by speculation – by what Robert Shiller calls a natural Ponzi scheme.” Proving he’s not a complete technophobe, however, Krugman has a hot take to share: he believes Bitcoin’s underlying blockchain is interesting. Constructive criticism of Bitcoin is healthy. In fact, some of Bitcoin’s biggest critics are also its biggest proponents because they recognize that only through picking apart the cryptocurrency and eyeing it through a questioning lens can it be improved. Wherever Bitcoin goes, and whatever sort of financial system it spawns, it will never be good enough for the Roubinis and Gerards of the world who will go to their deathbeds still spitting bile at the cryptocurrency they loved to hate.
Interest in token sales has dropped dramatically over the past 10 months, with investment falling almost 95 percent. Nevertheless, according to a new study, the ICO market is still significantly larger than two years ago. Also read: Localbitcoins to Introduce New User Verification Rules Startups Raised Less Than $300 Million in January Investment in startups conducting initial coin offerings (ICOs) has decreased from $5.8 billion in March 2018 to $291 million in January 2019. That’s according to statistical data recently released by crypto analytics platform Coinschedule. However, despite the obvious drop in fundraising through token sales, in the first month of this year ICOs attracted over 70 percent more capital than in January of 2017. While 2018 saw a great number of token sale projects, despite the falling prices of cryptocurrencies, 2019 started quite slowly for ICOs. Less than 50 were launched in the first week of January and only $6 million was raised by 424 ongoing coin offerings. That’s the smallest combined weekly total collected by ICOs since 2017, as news.Bitcoin.com reported. Another report recently showed that initial coin offerings raised 25 percent less funds during the fourth quarter of last year in comparison with the previous three months. According to Icobench, almost 600 ICOs were completed in Q4 2018 but the total amount of capital collected during the quarter decreased by about $400 million to $1.4 billion. Eos and Telegram Lead the Top 10 ICOs The Coinschedule data shows that March and June of last year were the months with the most funds raised in ICOs – $4 billion and $5 billion respectively. The website also lists the top 10 token sales by raised funds. With over $4.1 billion, Eos is leading the chart. It’s followed by the first and second presale of the Telegram ICO with $1.7 billion and the private presale of the petro, the Venezuelan state-issued digital coin, which according to the government in Caracas accumulated $735 million, although this figure is hard to verify. The authors of the study have also grouped ICOs according to raised amount. 24.1 percent of the capital has been attracted by startups with infrastructure projects. Finance is the second largest category with 16.2 percent, followed by communications with 10.1 percent. Another 7.7 percent of the capital has been collected by trading and investing startups and companies offering payment services form the fifth group with 4.7 percent. What are your expectations about the development of the ICO sector through the rest of the year? Tell us in the comments section below.