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By Emily Rose Dallara
What is blockchain?
Most blogs and articles are written by the people and companies who built a type of technology called ‘blockchain’. They want you to understand all the ins and outs, the way it works, why it works and what you should do with it.
There are plenty of well-written articles like that. We don’t need to add another one.
So, for everyone who really doesn’t get tech -- blockchain is something that works in the background to make transactions happen in cryptocurrency. You will hear the term ‘decentralized’ thrown around, which means that no one organization can alter the data embedded in the blockchain.
By the way, if you still don’t quite get cryptocurrency -- it’s just another name for another type of ‘currency’ that’s not part of a country, region or institution. It’s an alternative method of payment that isn’t controlled by a third party, you have full control of the money. You control the passwords and sending and receiving money requires no personal information. It’s really handy.
You can pay for loads of things, and you don’t need a bank account in most cases. Crypto is helping countries like Venezuela survive hyperinflation and it removes transactional barriers country-to-country. It’s also not affected by the state of the banking system. No ring fencing needed here. A quick low down on cryptocurrency and the banks can be found in our previous article. So, the blockchain…
**The ‘blockchain’ isn’t a tangible thing. **It’s basically a list of transactions, addresses, numbers, and letters. Think of it like a foundation for people to add to and make useable, but sometimes just fun stuff.
When crypto-fanatics who talk about; the tech, apps, nodes, and forks--and you’re not into technology in the slightest, you’ll glaze over pretty fast--and that’s ok, we can’t all be that way inclined.
But just so you know, the people who build on the blockchain develop some really incredible things--like; Honest Cash, BITBOX and the new Peaceful Warrior online payment system Atomic Pay. How can you use blockchain every day?
The most obvious apps that anyone can get a hang of, that happen to be part of ‘the blockchain’ are **wallets, **used to store your cryptocurrency. (A bit like Revolut, Paypal wallets and the app you use to check your online banking.)
You can use them in real life, not just online. That bar you go to for post-work drinks every Friday; you could even use a wallet to pay for your drinks there.
The bar just needs a wallet or a super simple crypto point of sale system (Bitpay has a great one). To pay for your drinks, just send them money from your wallet. Usually, this requires scanning a QR code on their phone and swiping ‘send’. They receive the money almost instantly and it costs a fraction of a cent. No need for pin codes, cash and in some cases even wifi isn’t needed.
You are using blockchain technology is you use a crypto debit card. Bitpay has one for US customers and if you’re in Europe, Bitnovo has a really simple Mastercard backed one that currently supports seven cryptocurrencies. Alongside this card ( much like Revolut ) you have an app that allows the user to top up their card and find places to use it in the surrounding location. These cards are great if you want to spend crypto but a merchant doesn’t have a wallet or POS system themselves. Of course, there is no one stopping you from helping them to set up their own wallet, and then sending them some cryptocurrency to get them started! What if you don’t have any crypto?
So forget the blockchain, you just want some crypto to buy stuff with.
Here are your options for getting started that won’t drive you up the wall or require too much tech knowledge.
1. Visit free.bitcoin.com. In return for downloading a wallet, they will send you some free Bitcoin Cash. Free money yay!
2. Find a friend who has cryptocurrency send them some money and get them to immediately send you the same amount, but in your chosen crypto.
3. Use an exchange--we’re working on a super simple guide to get you through setting up an account. But if you’re eager to get your hands on some crypto--Coinbase does a pretty good job and is very beginner friendly.
Really, ‘Blockchain technology’ is a buzzword, crypto is just another type of ‘money’ that’s broken down into different ‘coins’.Think of Bitcoin Cash or Dash as like the USD, ETH like the Euro and Bitcoin as Gold-- you wouldn’t try to spend it in a store because it’s way too much effort and pricey. You store it to see if you can make future gains or as keep as a stable asset.
You can spend cryptocurrency on our website, no tech knowledge needed and it’s a step by step process.
No messing. That’s how we like it, straight up and simple. Just like our crypto.
The global remittance industry is huge. World Bank data shows that over $148 billion was sent abroad from the U.S. alone in 2017. As people leave nations gripped by hyperinflation, or simply move to look for better opportunities abroad, sending cash back home becomes a necessity. As the people in Venezuela are discovering, this can be cheaper, faster and simpler with bitcoin and other cryptocurrencies. Here are four ways to send money abroad using crypto. Crypto Remittance for the Masses
Bitcoin and cryptocurrency in general can get money from sender to receiver extremely quickly and at low cost. If you’re new to decentralized peer-to-peer currency, it’s worth familiarizing yourself with how it works. From there, one can choose which cryptocurrency you intend to use as a conduit for the fiat cash. Bitcoin core (BTC) and bitcoin cash (BCH) are popular, though ripple (XRP) and ethereum (ETH) are other options you may wish to consider.
After selecting your desired cryptocurrency, the next step is to choose a wallet which can store it. Cryptocurrency wallets are essentially software programs that store your public and private keys and interface with various blockchains, allowing you to monitor your balance, send and receive money, and conduct other operations. There are different wallets to choose from: a desktop wallet, which would be downloaded and installed on your computer; an online wallet which runs from the cloud; or a mobile wallet, by far the most popular option as they can be used anywhere while on the go. Other options include hardware wallets which store a user’s private keys on a device like a USB, and paper wallets, which refer to a physical copy or printout of your public and private keys. Both are easy to use and provide a very high level of security. More information on choosing the best wallet can be found here. Now let’s move on and examine four methods of sending cash abroad using cryptocurrency. Localbitcoins.com
By far the simplest method for beginners, buying BTC on Localbitcoins and then using it to send cash abroad is extremely popular in developing nations in particular. You simply need to open an account, search for people selling BTC in your country and go ahead and make a bank transfer to the seller. The platform is very secure and uses an escrow mechanism to hold funds, which means the coins can’t be released until both parties agree.
Once the buyer has the BTC they wish to send abroad, they can send it to their contact’s crypto wallet, where they can then sell it, or perform the same process on Localbitcoins.com but in reverse. So, if a person wanting to send money from the U.S. to Venezuela wishes to use this method, they would find a buyer in Venezuela after having bought BTC in the U.S., then sell the BTC and receive fiat cash into a Venezuelan bank account. Look for a good fiat to BTC rate while using this method, as you will find many buyers and sellers on Localbitcoins.com with different rates. Airtm
Another increasingly popular platform for sending money abroad using cryptocurrency is Airtm. A digital wallet connected to banks and blockchains, Airtm makes sending money abroad via cryptocurrency very simple. As well as BTC and BCH, the platform supports a number of other currencies including ETH, XRP and monero (XMR). Opening an account is easy and Airtm provides a mid-market cryptocurrency exchange rate. There is a crypto dashboard on the website where you can see your total balance in USD equivalent inclusive of all your cryptocurrency balances. From there, you can buy and sell crypto and send it to other Airtm addresses. Recipients can then convert straight to fiat and withdraw. Bitcoin ATMS
Bitcoin ATMs (BATMs) are fast popping up everywhere, with over 4,000 scattered around the globe. They quickly allow users to get their hands on crypto or fiat cash. And as a way for sending money abroad, they are a gem. You need only find a BATM, buy BTC or other crypto, send to the recipient in another country and then the recipient can sell the crypto for cash at a BATM. The recipient doesn’t even need to know about cryptocurrency – they can simply make and send a photo of the QR code and the sender can use this bitcoin address directly, which can then be taken out of a BATM as cash. BATMs tend to charge a higher commission than other services mentioned here, it should be noted, so their convenience comes at a price. Bloom Solutions
A newer method of sending cash abroad is via Bloom Solutions. Founded by Luis Buenaventura, Bloom aims to reinvent the remittances industry using BTC. By focusing solely on cryptocurrency as a mechanism for cross-border money transfer, Bloom allows users to sign up, and when your credentials have been approved, a rate for using the service is given. You can then deposit funds into your Bloom account and Bloom takes care of it being sent abroad by sending it to a bank account or cash pick-up point. An email or SMS will confirm the completion of the transaction. Based in the Philippines, the service has been praised for its ability to help the unbanked receive remittances.
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
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.”
South Africa has been ranked as the top country for ownership of cryptocurrency, according to a global survey by social media management company Hootsuite and global agency Wearesocial. The survey found that 10.7 percent of internet users in the country own cryptocurrency. Thailand is second, with 9.9 percent of mobile users owning cryptocurrency and Indonesia third with 9.5 percent, while the global average was 5.5 percent. Africa Steadily Embraces Cryptocurrency
The Global Digital Report 2019 also placed other sub-Saharan African countries such as Ghana and Kenya within the top 45 nations in the world where a large number of people owned cryptocurrency such as bitcoin. The results were based on the survey of internet users aged between 16 to 64 years during the six months to September 2018.
The survey confirms that Africa has embraced the digital currency revolution. A growing number of people on the continent are utilizing cryptocurrency to fulfill both personal financial needs and entrepreneurial ventures such as transferring goods, services and money internationally and domestically.
There is also an emerging generation of Africans buying virtual currencies as investment vehicles, while a relatively small number of Africans trade digital currencies speculatively for profit.
In, 2018, Paxful Inc., a peer-to-peer bitcoin exchange, reported seeing significant growth in Africa. The U.S.-based company said Africans now accounted for the largest number of people buying and selling cryptocurrency on its platform, with average monthly transactions totaling $64.5 million.
Over the past year, users from the African continent of 1.2 billion people soared by 225 percent, Ray Youssef, chief executive officer of Paxful, said. Transactions on the exchange climbed 60 percent in Nigeria, Africa’s biggest economy, 25 percent in South Africa, the continent’s most sophisticated economy, and by up to 100 percent in other parts of Africa. South Africa Consults on Crypto Regulation
The top ranking for South African cryptocurrency ownership comes at a time when monetary authorities in the country have asked the public to make submissions on policy and regulatory proposals for crypto assets like bitcoin. There is currently no regulation for cryptocurrencies in South Africa, a situation which has prompted the South African Reserve Bank (SARB) to come up with measures that provide legal protection or recourse to investors and users.
Whereas the rest of the South African financial system is tightly regulated to prevent issues of market failure, the crypto market isn’t, SARB said. In its policy paper, the central bank makes several proposals including leaving crypto-assets without legal tender status, so as not to recognize them as electronic money.
The document also recommends that an appropriate regulatory framework be developed through a registration process for crypto-asset service providers. It also proposes a review of existing regulatory frameworks followed by new regulatory requirements or amendments to existing regulations.
“The phased approach, starting with the registration requirement, could lead to formal authorization and designation as a registered/licensed provider for crypto asset services operating in South Africa at a later stage,” states the central bank.
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.”
En este epsiodio especial, reemplazamos las noticias por las de un tópico que he visto en el mundo de las criptodivisas y un debate en el tópico de adopción de estas. Particularmente la falta de atención al software empresarial de criptodivisas. Pero el debate va mas aya al tener una confrontación sobre el tema de la volatilidad versus el de herramientas.
El de la volatilidad dice que las criptodivisas no se implementan por que la alta volatilidad puede comer las ganancias de los productos, en el caso que este caiga. Sin embargo, el argumento opuesto es que la demanda no justifica una perdida representativa en la mayoría de los negocios y hay gastos quizas mas importantes que la mera volatilidad.
Aquí es donde vienen el otro aspecto que es la falta de herramientas empresariales. Aunque muchas monedas han tenido mucho dinero para poder pagar varios desarrolladores, la evolución al lado empresarial siempre ha sido una escases muy fuerte del cripto mundo.
Al no tener plugins o accesos al software empresarial, las criptomonedas sufrirán en cuanto a la adopción emprearial de las mismas haciendolas aun mas dificiles de adoptar. La falta de soluciones empresariales significa que ahora los negocios se verian forzados a hacer sus propias herramientas por una demanda no probada y la combinación lo hace difícil implementar estas.
Que opinas de este debate? Escribenos y comentanos tus opiniones.
Sumate a la campaña en foundation para apoyar monetariamente a este podcast. https://fundition.io/#!/@jza/yr9azfezp
Este programa es patrocinado por Paccoin, visitalo en: https://paccoin.net
By Emily Rose Dallara
On February 17th, I was asked to speak on a panel by Yann Rousselot - Pailley. He’s COO of Grand Aster Wealth Management. Yann previously advised the Canadian government on cryptocurrency and his company now provides Asian investors the opportunity to extend their portfolio and manage their wealth more efficiently. Their current focus right now is cryptocurrency. The topic of the discussion was: ‘Is crypto dead?’.
Other panelists invited to discuss this topic included; Dominick Weil Founder of Ginero, George Nguyen Country Manager of 2359 media and Amir Irwan Project Lead of MyEtherPony.
The audience was a mix of Asian and Western Investors, tech entrepreneurs and cryptocurrency enthusiasts. There were a few anomalies--people who just wanted to learn about crypto and blockchain tech and how it could be implemented within Vietnamese businesses.
A few questions posed to the panel included; ‘Is crypto dead or just in a deep coma?’, ‘Will Quantum Computing kill crypto?’ ‘Is this the end of ICOs?’ and ‘has HODL ruined crypto?’
Let's get one thing straight for anyone reading this who isn’t in the crypto-sphere and wants to learn. Crypto is not dead.
Peaceful Warrior are fully for using cryptocurrency as cash, alongside or in replacement of a national currency. My stance for the panel was the use of cryptocurrency and the need for global merchant adoption.
Instead of talking about everything that goes on behind the scenes, at Peaceful Warrior, we believe the most important thing is USING cryptocurrency. Simply, easily--without even knowing you’re using blockchain technology.
I use this an easy example for why this needs to be the case: Next time you whip out your debit card at a store. Think, do you know all the details about that tech working to make the transaction happen? Nope, all you know is that the money goes from your account, to the store, you take your goods and maybe the store gets charged for doing that-- right?
But right now we’re seeing many cryptocurrency companies talking about the tech, and not to the people.
So, we’re on a mission to change that. It was my goal for this panel to skip the tech and get to the facts. Even if it was just to open the minds of Vietnamese investors that day--it’s a start. Hopefully, you will find it useful too!
Let’s focus on the overall question, because to be honest, the rest was pretty technical. Is crypto dead or just in a deep coma?’
Cryptocurrency is peer to peer electronic cash. Removing the third person (aka the banks) gives you --yes YOU back control of your money. Using cryptocurrency gives you the choice to send, spend and receive funds how you want, when you want--without providing any personal details about yourself.
What does this really mean?
Right now you trust your bank to keep your money ‘safe'. Have you ever thought what ‘safe’ actually means though? Let's break it down.
The general bank account holder has:
- A bank account managed by a third party. They hold; your pin codes, passwords, your money and your personal information, your hard-earned nest put aside for a ‘rainy day’.
- They provide you with an electronic pin card, to which they know the pin at all times.
- An online bank account that uses security questions and login details to secure it. If you forget your details, they will help you jailbreak your account.
- They know everything about you, your name, your address, age, profession, income, marital status, credit rating, crimes you may have committed--everything. They use that to judge if you’re worthy of an account. But it’s also sellable and obtainable information. At any time anyone could attempt a malicious attack on your information to use at their discretion. In fact, a rogue employee could leak that information.
- Sometimes you have a joint bank account. This means someone else has access to your information and can spend the balance and change information at will.
- Overall--you are trusting someone else with your money.
Banks can’t effectively protect you against financial crashes, hyperinflation or fraud.
Banks can also:
- Freeze your account
- Unbank you--effectively closing your account without warning
- Block ‘unauthorized’ transactions
- Block transactions if they are deemed ‘suspicious’
So you see, when you dig a bit deeper, banks really aren’t that ‘safe’.
Cryptocurrency is a safer option--but, what it really comes down to, is trusting yourself.
Most people I’ve spoken to about using cryptocurrency instead of ‘normal’ money have the same concerns. ‘What if I lose my access?’ (aka their private keys) , what about the price volatility?, ‘Isn’t it a scam?’
In the panel yesterday, I made sure to answer these FAQ’s before getting into anything else. Assuming you’re totally new to cryptocurrency. Losing access to your private keys and your cryptocurrency is ultimately, your problem. The solution: Make backup cards containing your private keys, make copies and hide them in places you will remember. Provide joint access. Go old school, think of those in developing countries who don’t use banks--take the ‘cash under the mattress’ approach.
The example I made to highlight the ease of keeping your private keys safe was--you wouldn’t carelessly toss your car keys around and forget about them, would you? That shit’s expensive to replace. You have spares and you ensure to keep them in a place you remember. It’s the same thing with your private keys.
Secondly--price volatility. It was a big discussion point yesterday. I kept it short and sweet.
“The more people who use cryptocurrency, the more stable it will become”.
Simple as that.
And don’t get me started on; ‘is it a scam?’’ Do. Your. Own. Research. But in all seriousness, we need better content and quicker adoption by merchants to help people realize it’s not just a ‘fad’.
Back to the main question: ‘Is crypto dead or just in a deep coma?’.
I could go on for a long time about why it’s neither, but I decided to keep to the point. I explained to the audience about what’s really going on behind the scenes, and why the bear market has actually been a positive thing for us.
1. Adoption rate is growing, but it’s still not fast enough. Right now, approximately over 1000 merchants accept Bitcoin Cash worldwide. Approximately 3000 merchants accept Dash and some still accept BTC as payment. Just the other week Paraguay and Argentina sealed a deal using Bitcoin ( BTC ) as payment- those fees though, ouch!
2. Humanitarian projects are using cryptocurrencies to save lives. You may or may not know, South East Asia has its fair share of media censorship. It was a shock to the audience when I explained what’s happening in Venezuela. Written about frequently on the Honest Cash platform, Venezuela is in economic crisis. Their national currency is no longer of value and they’re using cryptocurrency to survive. Someone asked me ‘but how do they 'cash out' to buy things?’ I answered, “they don’t, crypto replaces their currency. It is THEIR currency. Without it they would be screwed. Cryptocurrency is their lifeline and a much more feasible option for them now and in the future.” Seeing the audience and even a couple of the panelists shocked by the information showed this information was a real turning point for them. So you see, if you put all the trust in your bank and national currency, it may come around to bite you in the butt one day.
3. Building. Whilst it’s nice and quiet in the market, developers have time to build and test. There has been so much activity in communities, we’re not all sat around anxiously watching the market. In fact, everyone is busier than ever. Making sure the utilities, features, platforms, and applications are in place for the next time the market picks up. Making foundations for you to use cryptocurrency easier and more efficiently.
Projects I mentioned in the discussion were: eatBCH, Airdrop Venezuela, Honest.Cash and Peaceful Warrior (shameless shill) and the Bitcoin.com Podcast Network.
After the panel, we went on to discuss a topic investors in the audience threw at us, ‘ How does the value and price of cryptocurrency correlate?.’ A friend of mine (the filmmaker behind the Satoshi Awards launch movie) smashed it with his response.
***“It’s not. If I did some work and was paid in cryptocurrency, but then the price of cryptocurrency dropped, would the value of my work change? No.’ ***
Nobody could disagree with that.
It was interesting to see the audience really open their minds to using cryptocurrency and not just see it as an investment option.
I’m looking forward to being able to speak at future panels in South East Asia in the future! It’s so fun!
More content is on it’s way. We have a growing marketing team at Peaceful Warrior and we can’t wait to show you what’s been happening over the last few months. Follow us on Honest Cash, Twitter and Instagram to stay updated and join our Telegram group.
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.
What is the Black Pearl Network, and how does it work?
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?)
Announcing the Satoshi Awards, Acapulco 2020 - the World’s first cryptocurrency awards with voting on the blockchain.
The Satoshi Awards was launched live at Anarchapulco, 2019. Attendees of the event had first view of an exclusive conceptual, short film launching the first crypto awards ceremony of its kind.
Since Satoshi Nakamoto mined the first bitcoin block in 2009, we’ve halved twice, gone to the Moon and back, and are now heading for Mars. A decade of rollercoasters, community achievements and technological breakthroughs that deserve recognition. Dedicated to all visionaries, anarchists, artists, pioneers and truth seekers, the Satoshi Awards will celebrate their endeavors and the mark they are leaving on our movement. Stepping away from the hype and the market, we wish to look back and honor those who’ve played a key role in this industry. To be held in Acapulco, Mexico in February 2020, the Satoshi Awards will honor the best in crypto, by launching the world’s first cryptocurrency awards ceremony.
The twist? The nominations and voting process will occur on the blockchain.
An awards ceremony shaped by the community, relying on a transparent and open process to nominate and vote for their crypto-heroes. The special event will take place alongside Anarchapulco’s 6th annual event.
Wrapped in a vintage atmosphere, the Satoshi Awards are inspired by the Roaring Twenties, a time of social, artistic and cultural dynamism. They broke with tradition, were empowered by modern technology, and everything seemed feasible. Today, our crypto movement mirrors that era, and is also calling for a change-- armed with blockchain technology. Want to be part of it?
For more information please visit thesatoshiawards.com or contact our team at info[@]thesatoshiawards.com. Join The Satoshi Awards Telegram group and follow us over on Twitter and Instagram.
To talk to us about sponsoring the 2020 awards, please email: sponsor[@]thesatoshiawards.com.
The cryptocurrency world is a mysterious one, wrapped in secrecy and anonymity. Where cryptography meets blockchain and revolutionaries. For many of us, this has been a journey to discover a new found philosophy of life, where liberty, freedom of choice and voluntarism are key.
We’ve embraced an ongoing social and economical experiment for the betterment of humankind. Anybody is welcome to take part, just follow the yellow brick road, learn and envision a decentralized future. We walk at night, masked, wearing our ruby slippers and cloaked in our superhero capes. We are everyone and no one. We are on a mission, to bring peer to peer electronic cash to all and more. How? With different backgrounds and cultures, the crypto community is broad, a mix bag of talents, cypherpunks, marketeers, politicians, economists and you and me, with hopes of a better world.
Once you stumble upon it, you can’t go back. From a colorless world, where federal banks and corruption reign, you’ve emerged from the rabbit hole, empowered and enlightened. You now have hope. The Satoshi Awards are here to celebrate you, your heart, your courage and your vision. We wish to honor those who’ve dared to step onto the yellow brick road, to look beyond the known. Unmasked, with no wicked witch standing in your way, the rest of the world awaits.
We are bold, pioneers on the frontlines of a new economy. A community united with purpose. We feel the urgency, and we want to be prepared. On the brink of a new world, we want monetary power to lie with the people. Now, we must honor the visionaries that have paved the way for us, to live in a timestamped technicolor dream.
Grow, build, support, keep helping us move forward.
Drown out the noise, there's another way, it's clearer now.
Hey cryptonauts thanks for joining me! Today we are taking a look at a brand new Dapp launching on the Ethereum Blockchain; HyperETH. Numberofthings also walks you through how to set up your first wallet using Metamask.
Permissionless, decentralized, non-custodial, peer-to-peer.
The beacon of hope, a new currency, a new lifestyle is there, it's up to you to make it work.