Tag: crypto crash

x42: The Cryptocurrency Gem You Don’t Want To Miss

By Spencer Kellogg | @Spencer_Kellogg

Open. Feeless. Infinite. Those are the three words that greet users of the x42 Protocol, a new cryptocurrency that launched in the late summer months of 2018. In the world of cryptocurrency, manufactured hype and speculation often cloud the true viability of new projects in the nascent marketplace. x42, however, appears to have all the trappings of a strong, working product for innovation and finance.

x42 is a decentralized cryptocurrency that promises zero fees and infinite scalability. The coin can be transferred privately in an instant and the platform itself acts as a creative authoring hub for launching an assortment of applications ranging from indie game developers to large-scale business models. Maintained by the blockchain, x42 provides a flexible entry for entrepreneurs and amateur content producers alike to create, maintain and execute smart contracts and customizable side blockchains.

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A technology based on the Stratis cryptocurrency, x42 smart contracts are written in the common language C# and provide builders with a framework to launch their own blockchain applications and projects. Utilizing the Breeze Wallet, x42 transactions are private and untraceable ensuring anonymity for core community users. The project is growing in interest every day and their Discord channel boasts over one thousand users already.

At this moment, the x42 team is focusing on releasing tiered nodes and an entry-level master node is available by purchasing and holding 1,000 coins in the x42 core wallet. x42 protocol employs Proof of Stake (POS) and rewards users who stake coins in the wallet with a payout every 1-3 days. x42 coins can be purchased at the Start-Ex cryptocurrency exchange.

Unlike many cryptocurrencies that utilized ICO’s during the crypto gold rush of 2017, the x42 team used a traditional launch that included a pre-mine of 25% of their full coin supply (42 million coins). The rest of the coin supply will be printed by the year 2030. This incentivizes users to hold their coins in a wallet and receive staking benefits. Block rewards are 20 coins per block until the block number 550,000 is reached (likely October of 2019) at which time the reward will reduce to 5 coins per block. For more information on coin supply and market cap, check out CoinGecko’s page for x42.

The use cases for x42 are impressive in their diversity. Developers have suggested that the platform can be used to create casual gaming infrastructures like Ethereum’s wildly popular CryptoKitties or to build more sophisticated tech like Maps or Virtual Reality applications. x42 can also be used to uphold contracts via a modeled reputation system or to even remotely control small and large-scale equipment for businesses.

x42’s combination of feeless, private transactions and a smart contract platform that can create and execute decentralized applications make it an interesting project to purchase and hold for the future. The team is active on several social media platforms and they have, so far, achieved every stated goal in a timely and professional manner. With less than 600 followers on Twitter, this is still very much the early stages for the x42 project and a good opportunity for speculators and tech-interested investors alike to join a budding project in its infancy.


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Cryptocurrency Market Shows Life, Adds $40 Billion in 2 Days

By Ryan Lau | @agorisms

Over the past several months, the cryptocurrency market has slowed. Its peak market cap of $830 billion has fallen dramatically, losing over two thirds of its value.

However, over the past several days, it is beginning to show life again.

On July 2, Bitcoin finally saw growth after it reached a 12 month low in value. As of June 29, the cryptocurrency had fallen as low as just over $5800 USD. Yet, the value, as of July 3, has soared back to $6658 USD.

This shows nearly a 15% increase in Bitcoin in just four days, which averages to slightly under 4% a day.

Of course, since the cryptocurrency’s fall from a January high of nearly $20000 USD, it has jumped up by these percentages a number of times. Despite this, some investors believe that this rally is longer term.

Sustainable Cryptocurrency Market Gains

As Bitcoin rose, the cryptocurrency market as a whole also saw considerable gains in volume. In the past 48 hours, it has added $40 billion dollars in total volume. As part of this, Bitcoin’s volume rose to $4.6 billion.

Other coins, such as Bitcoin Cash, Cardano, and Ripple, have also risen in value and volume over the same span. Ethereum also showed strong recovery, bouncing from $400 to $467 USD.

Because of the increase in both volume and value, many expect this growth to continue. Some market estimates place a short-term value of Bitcoin at slightly over $7000 USD. If this occurs, it will represent a 21% payout since the cryptocurrency reached its low.

Smaller cryptocurrencies have yet to see the same rebound and uptick in volume. Yet, the market trend suggests that they may soon see similar looking gains, as demand for crypto increases.

The Cryptocurrency Market in U.S. Cities

Clearly, there has been a rapid increase of cryptocurrency market recognition since just one year ago. As this continues, demand not only rises for coin ownership, but for work opportunity. in fact, first quarter 2018 blockchain jobs on the freelance site upwork.com rose a staggering 6000%.

While some, like those on upwork.com, seek employment in blockchain, many others are finding another way to join the market.

Throughout U.S. cities, Bitcoin ATMs are beginning to appear. As of mid-June, over 2,000 of the machines existed in the United States, with almost 100 in the state of Michigan.

For a fee of 7 to 8 percent, consumers may purchase the cryptocurrency in order to hold, invest, or trade.

Generally, the machines exist in low income areas. Of course, many families with lower incomes do not have bank accounts. As an alternative, they may use these ATMs as a cheap alternative means of storing money.

Some even view the machines as an alternative to lottery tickets. With high levels of risk and reward, both are capable of bringing massive success for a small price.

Unlike a lottery, however, the cryptocurrency market shows trends that users can monitor for maximum gain. Detroit gas station owner Andy Attisha says that users of his Bitcoin ATM are doing exactly that.

“A lot of people do day trading on it,” Attisha remarked about his ATM. “I see people coming in here every day messing with the machine.”


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Facebook Sued for Defamation Over Scam Cryptocurrency Ads

By Mason Mohon | @mohonofficial

United Kingdom financial advisor Martin Lewis is suing Facebook for defamation after cryptocurrency ads using his name and face continued to pop up on the site.

Lewis claims that his reputation and name were being used for fraudulent activities and fake cryptocurrency investment advice.

I will issue High Court proceedings against Facebook to try and stop all the disgusting repeated fake adverts from scammers it refuses to stop publishing with my picture, name, and reputation.

Facebook has reportedly published over 50 Martin Lewis advertisements. Ironically, Facebook banned cryptocurrency ads earlier this year, yet clearly to no avail.

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He has expressed disappointment in Facebook’s inactivity, making clear that removing these scammy adverts would be an easy fix.

Enough is enough. I’ve been fighting for over a year to stop Facebook letting scammers use my name and face to rip off vulnerable people – yet it continues. I feel sick each time I hear of another victim being conned because of trust they wrongly thought they were placing in me. One lady had over £100,000 taken from her.

Any ad with my picture or name in is without my permission. I’ve asked it not to publish them, or at least to check their legitimacy with me before publishing. This shouldn’t be difficult – after all, it’s a leader in face and text recognition. Yet it simply continues to repeatedly publish these adverts and then relies on me to report them, once the damage has been done.

The attorney leading the lawsuit stated:

Facebook is not above the law – it cannot hide outside the UK and think that it is untouchable.  Exemplary damages are being sought. This means we will ask the court to ensure they are substantial enough that Facebook can’t simply see paying out damages as just the ‘cost of business’ and carry on regardless. It needs to be shown that the price of causing misery is very high.

No, Cryptocurrency Is Not “Quietly Dying Out”

By Mason Mohon | @mohonofficial

On Sunday, Russia Today posted an article titled “Is the cryptocurrency market quietly dying out?”, which was full of nothing more than explanations of recent cryptocurrency events along with market declines.

The article merely discusses recent market trends but uses a loaded editorialized headline to make it seem like crypto is dying. The recent decline and widespread burns are quite the opposite, though. The market is organic, and consumers have to take responsibility and learn for themselves.
Those who were scammed or bought Bitcoin at $19,000 may be too depressed to ever buy cryptocurrency again, but if they are wise they will see it as a learning experience. People who have been burned will now use a skeptical eye when looking towards any potential investments.
The failure of the cryptos with “broken blockchains” is just creative destruction at work. They couldn’t serve the consumers, so a better and safer technology is coming to take their place.
A decline in the price of popular currencies is not the end of an era. It is a learning opportunity, so take advantage of it and use it as such.
Note: This is not investment advice.

I Bought 12 Million ExGirlFriend Coins Because I Have An Ex-Girlfriend

Spencer Kellogg | @TheNewTreasury

In my search to find the most undervalued (and stupid) cryptocurrency projects in existence, I drunkenly stumbled across ExGirlFriend Coin late last night. The project, which is part ICO and part airdrop, claims to have absolutely “NO USE AT ALL”.

Naturally, I bought a ton.

https://twitter.com/exgfcoin/status/973489913516756992

I’ve had a lot of ex-girlfriends but I’ve never had an ExGirlFriend Coin. Until last night that is. The mysterious person(s) behind the venture have suggested that men can buy this token when in the throngs of heartbreak or in anticipation of a lover’s quarrel. If you give EXGF to your girlfriend and she ends the relationship, you can simply ask for your coins back.

Brilliant.

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At its core, this is a project with no use case except the thin promise that it will sooth your existential misery. So basically, it’s like 99% of crypto. I couldn’t resist.

I hastily signed onto Facebook and searched for my most recent ex. After reliving the bitter pain I felt at the end of our break-up, I dimmed the lights, turned up some Al Green and keyed into MyEtherWallet. I unlocked a wallet I hadn’t touched in over a year and sent $5 dollars of scrap ether to the address listed. 30 seconds later, my wallet was filled with hundreds of thousands of brand new, meaningless EXGF tokens.

And you know what? It felt great! So I bought some more. About 11 1/2 million more.

It reminded me of my two-year long love/hate relationship with cryptocurrency. One day it’s worth something and the next you’re explaining to your wife how you flushed all her grandmother’s savings down the toilet on a pipe dream sold to you by a snake oil salesman named Carlos Mattos.

If you’re a savvy investor and need some more convincing before you send a thick stack of ether to a token that has less inherent value than a CryptoRandyMarsh All Starz Card, let’s peel back the curtains a bit on the ideological weight of the project. Check out this reassuring paragraph from the developer of EXGF:

Having a breakup is really rough but having a girlfriendcoin fixes the problem. There’s absolutely no use of EXGF Coin right now apart from telling people that you own EXGF coin. If you are single, you can get EXGF coin in memory of your EX-GF. If your girlfriend breaks up with you, EXGF developer will give you 100000 EXGF Coin for free to ease the pain.

I know what you’re thinking; ‘how can I buy some ExGirlfriend Coin?’ I know this because I thought the same exact thing. Luckily, for all the men scooping their broken hearts off of vomit covered floors at their ex-girlfriends rat infested ‘apartment’, EXGF’s developer has provided three easy steps to turn your never ending frown upside down.

Sad boy investors are invited to purchase EXGF by clicking here. With a maximum supply of 100 billion coins and an exchange rate of 1 ETH = 100 Million EXGF, the valuation of EXGF is just a bit north of $500,000K. Looking at other dead and buried projects in that same valuation range, it is easy to see how EXGF could possibly provide substantial gains for love-torn cryptocurrency neckbeards if it does manage to reach Cryptopia or Tradsatoshi.

According to the developer on Twitter, there are hopeful plans to have the coin listed on EtherDelta and possibly IDEX as well. The developer has graciously offered a reward for the recently heartbroken: “If your girlfriend breaks up with you, I will give you 100,000 EXGF Coin for free to ease the pain.” The dev team has also incentivized purchasing the tokens outright by providing large kickback bonuses for buyers. The EXGF team is also currently working on a website/social networking site that will utilize the coin.

EXGF’s Twitter already boasts over 3,000 followers after launching this month. With star-studded testimonials from the likes of Brad Pitt & Satoshi Nakamoto himself, this coin is headed on a direct path to the moon.

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***Although EXGF is a very real coin, this  is not meant as financial advice. I do not advise buying millions of EXGF even though I, myself, did. I mean, if your girlfriend breaks up with you then maybe grab a couple mil for the long winter. Otherwise, stick to the shallows.***

Image Source Pixabay