Tag: cryptomarkets

This Blockchain Project Could Save Venezuela

James Sweet III | United States

Venezuela’s currency, the Bolivar, is worthless due to hyperinflation that shows no sign of stopping. Venezuelan citizens are starving, forcing them to resort to rationing the little bit of food they have and stealing food that they can find. The crisis is constantly evolving due to the failed policies of the Maduro regime, but with the help of the blockchain, the situation could become stabilized, saving the families of the nation.

AirdropVenezuela wants to help the impoverished families of Venezuela by donating $10 to 100,000 Venezuelan households, which can be achieved by raising $1 million via cryptocurrency donations. The money, once received, will be converted into the local currency, allowing the families to purchase supplies that they desperately need. The leader of AirdropVenezuela is Steve H. Hanke, a professor at John Hopkins University. Hanke is also a Senior Fellow at the Cato Institute, serving as Director of the Troubled Currencies Project. The project is based on the Airtm platform, which allows you to save your local currency’s value by pinning it to a more stable currency, specifically the United States Dollar.

The civil unrest in the nation makes it dangerous to leave your house, which is another reason why Hanke is leading the AirdropVenezuela project. “We provide in effect a clearinghouse that allows for the exchange of bolivars for dollars and vice versa,” said Hanke to Forbes.  By allowing money to be stored and transferred via the blockchain and the cloud, the time that Venezuelans spend in public is minimized, allowing them to live a safer life while also getting the resources that they need to provide for their families.

The project, while mainly benefitting the families of Venezuela, could help boost the cryptocurrency market. Instead of being risky investments, cryptocurrencies will become a medium of exchange pinned to more stable currencies. Airtm, if successful, will revolutionize the use of blockchain technology by allowing it to have a more practical use. “You could now have the additional demand for cryptos for use as a medium of exchange versus what you have now which is only the speculative demand,” says Hanke.

The Airtm platform will also show the possibility of putting into place a free market exchange rate. Venezuela has a fixed exchange rate, making it hard to exchange Bolivars in the market. If you want to donate to or learn more about the AirdropVenezuela project, you can click here to visit their website.


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The Yellow Vests Are The New Face Of Bitcoin

By Spencer Kellogg | Spencer_Kellogg

Paris is still burning. While the American public (by way of the American media) has largely been kept in the dark about the intense protests that have engulfed France and other parts of continental Europe, the severity of the situation continues to escalate.

This week, the Yellow Vests called for French citizens to withdraw money from their banks. This action would essentially create a run on the financial system of France and potentially starve the Euro. Officials are calling this their ‘worst nightmare’. In anticipation of the event, some French banks have resorted to limiting bank withdrawals to €150 while others are not allowing customers to access their accounts at all.

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Though a ‘nightmare’ for government officials and the banking elite, a run on the banks would be a rising flare for those that believe firmly in the transformational economic and liberty prospects of cryptocurrencies like Bitcoin. After all, Bitcoin was birthed from the smoldering ashes of the 2008 Financial Crisis and saw its first massive bull run during similar protests across Europe in 2012.

Gilet Jaunes protestor Tahz San has been credited with first introducing the idea of neutering the state’s power by attacking the coffers of multinational banking centers. San posted the following on social media:

“For Act 9, we will scare the state legally and without violence. (…) We all know that the powers of the country are not in the hands of the government but in those of the banks. If the banks weaken, the state weakens immediately. (…) Saturday we will all vote by withdrawing our money to impose the RIC (Referendum citizen initiative) urgently. The operation is scheduled for Saturday, January 12 at 8 am It will be reproduced the following month in case of failure.”

Protestors have called for the bank run to occur on Saturday, January 12st.

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Across France, more than half of all speed enforcement cameras have been destroyed. Leaders in the movement have cited the cameras as a money grabbing measure that adversely affected the poor in France. This comes days after fashion icon Dior moved their Paris show after protestors caused millions of dollars of damage to the Champs-Elysees storefront in November.

The proposed run on banks comes after Prime Minister Edouard Philippe suggested a crackdown on public protests earlier this week. In essence, pulling money from the banking system of France is the last form of legitimate political protest without the introduction of physical violence.

Bitcoin was created for days and weeks and months like the ones we have witnessed in France. It is the greatest destabilizing tool against the weaponized and centralized modern states of power and luxury. Though the protestors began with the simple hopes of overturning an unreasonable fuel tax, they have arrived at the point where real action against purveyors of the empire must be taken.

For now, the Yellow Vests are the face of Bitcoin.



71 Republic is the Third Voice in media. We pride ourselves on distinctively independent journalism and editorials. Every dollar you give helps us grow our mission of providing reliable coverage. Please consider donating to our Patreon, which you can find here. Thank you very much for your support!

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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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New Survey Finds Surprising Crypto Demographics

By James Sweet III | United States

Cryptocurrency has taken the world by storm, threatening the fiat currencies of major nations. The governments of these nations are very hesitant to embrace the blockchain, but their people are not. According to a survey by YouGov, 44% of Millenials believe that crypto will become more accepted in the future. This makes them the most optimistic generation of the cryptocurrency market.

Of these Millenials, 48% would be interested in switching their primary currency over to Bitcoin or another crypto. 50% would not be interested. Overall, 36% of the Americans surveyed said they would be interested in making the switch.

You wouldn’t need a survey to know that Bitcoin is the most well-known cryptocurrency among the American population. For those that like to hear numbers, you’d be happy to know that 71% of those surveyed have heard of Bitcoin before, with the second most well-known cryptocurrency being Ethereum, with only 13% of those surveyed hearing of it before.

Men may dominate the cryptocurrency community. 74% of men saying they have heard of Bitcoin while only 68% of women say they have. 27% of women said they have not heard of any cryptocurrency before, which is a significantly more amount than the 16% of men unfamiliar with cryptocurrency.

Race might play into the stereotypes of blockchain technology. 32% of Hispanics believe that cryptocurrencies are used for legal purchases more than illegal purchases. Only 12% of Caucasian’s interviewed said the same thing. African-Americans are in the middle, with 22% saying that cryptocurrencies are used for legal reasons more than illegal reasons. Overall, 17% believe that crypto technology is used more for legal transactions, while 25% believe that it is more used for illegal transactions.

Hispanics, Millenials, and men seem to be the most likely groups to embrace cryptocurrencies than the other groups in their category. Will the future of the crypto market be young minorities in a male-dominated society? Or can these numbers change with more women embracing the revolutionary technology?


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Ripple And Bill Clinton Are A Match Made In Heaven

By Spencer Kellogg | @TheNewTreasury

This week, the cryptocurrency Ripple (XRP) announced plans to host former President Bill Clinton as its keynote speaker at this year’s “Swell: The Future is Here.” The conference, which will feature “the world’s leaders in policy, payments, and technology connect” is scheduled for Toronto in October.

Touting Clinton as a forward-thinking politician who “helped usher in a period of extreme growth and adoption of the Internet,” Ripple also pointed to the former President’s track record in bridging the ‘digital divide’ to bring new technologies to underprivileged people around the world. If you turn your brain off for just long enough, this is the sort of dimwitted stuff you start believing because someone parades it as truth.

I can already here that old rickety Arkansas drawl counting off the merits of Ripple in between poorly timed anecdotes about inhaling marijuana before it was cool. Anything to steer the conversation clear of the women, the lies & the obvious ties to the sort of people who wish to regulate crypto currency into another rudderless weapon of the state.

Mr. Clinton, who oversaw continued war, used the oval office as a private brothel, expanded the for-profit prison model, and consistently represented the interests of big, centralized banking and wall street cronyism, is exactly the type of post-American figure that Ripple would crown as their champion. Why would Ripple want Bill Clinton as its keynote speaker? In the still simmering #metoo era, The Democratic Party can’t distance itself quickly enough from the Clinton’s. What does it say about the corporatist ideology of the lab coats in charge of Ripple that they would believe Clinton to be an appropriate “thought leader in the blockchain space” as suggested in Swell’s marketing campaign? If cryptocurrency was initially built with an inherent distrust of modern banking and with the hopes of promoting a decentralization of power, money, and culture, then what kind of cryptocurrency makes the living symbol of neoliberal globalism the keynote speaker of their convention?

Ripple, as many in the world of anonymous, peer to peer, government-free, decentralized cryptocurrency will gladly tell you, is the enemy. Clinton, stumbling around in the waning light of his former fame, is just happy to grab whatever cash comes his way and Ripple Gateways has plenty of it. Clinton will sit and smile and act interested but he is the man in the cloak. Let us not dream for a second that this exposure is ‘good’ for the crypto community or signals a coming tide of mass adoption. This has nothing to do with advancing the civil liberties of the common man. This isn’t about sticking it to the centralized banking apparatus that has paid for and instructed war after unended war. This is not a voice ringing true the concerns of an American people who have been run ragged by the Federal Reserve and its unnatural cycles of boom and bust. Clinton knows one modus operandi and it is that of a professional grifter and in Ripple he has found his cryptocurrency match.

Further cementing its legacy as perhaps the most corporate minded cryptocurrency in existence, the announcement comes after a string of high profile public outreach campaigns for Ripple that have included Ashton Kutcher gifting day talk show host Ellen DeGeneres four million dollars worth of Ripple on her show.

DeGeneres looked stunned and rightfully so. What good is a cryptocurrency to the entrenched elite? With U2 bursting through the speakers, a rockstar Hollywood celeb and his sidekick tech buddy were all smiles as they publicly endorsed Ripple with all the sort of ‘hip’ and ‘cool’ buzziness you’d expect to find plastered on a Sex Pistols T-Shirt at Hot Topic. These are the sort of James Corden, pub stunts that emaciate an already culturally bulimic American public. The ride goes on and on, each stop grinding further and further back into the cave of shadows and doubt. Before you know it, we will all happily one a few hundred XRP and not know why.

DeGeneres, the slow driving goofy clown car of never-ending post-absurdity, is right at home as she drives asleep at the wheel Americans to their safe destination of centralized, prescriptive thinking. Her mum, deer in the headlights, blank look at Kutcher upon hearing the money would be donated through XRP is exactly what you would want from the American public. The fewer questions the better.

Blockchain analysts were quick to cry foul as many pointed to the anti-crypto fundamentals of Ripple. Unlike Bitcoin & Ethereum, Ripple is a pre-mined coin that uses a centralized network to transact and verify. Many inside the crypto community have questioned how much of the total supply Ripple Gateways owns and have warned against the possibility of assets being frozen or reversed. In February, Bitmex ran a scathing critique of Ripple that suggested the cryptocurrency was unstable while questioning the long-term efficacy of the network.

Bigger issues lie at the core of how Ripple, or better yet its currency XRP, is classified by regulators in the future. Coinbase has thus far steered clear of XRP over its concerns that Ripple could be seen as a security. CEO Brad Garlinghouse is at the center of decision making and his strategy, from the start, has been a banking play that allows for banks to use XRP as a low cost, speed efficient medium for international transactions. This stated interest in working within current financial institutions has led to many critics in the crypto community to label Ripple as the “banker’s coin.”

In the world of ultra volatile cryptocurrency, it can be difficult to tell truth from fiction and hype from dust. Ripple has proven to be one of the most attractive entryways into the sector for a reason and it continues to hold its spot as one of the most reliable asset propositions in the early years of cryptocurrency. None of that changes the fact that their approach from a cultural and political standpoint that sits at glaring odds with the original intent of Satoshi Nakamoto’s whitepaper.

In Yasmina Reza‘s “Art,” a friendship is torn apart over of a blank white painting. Premiering in 1994 at Comédie des Champs-Élysées in Paris, the narrative follows Serge, a well off Dermatologist who buys a $200,000 painting that is as white and plain as the fallen snow. Serge’s friend Marc is outraged by the price tag and it eats at their every conversation. For Marc, the painting represents a false construct, a purchased hierarchy, a false letter of authentication. He knows, full well in his heart, that money does not buy the revolution. It can not buy the singing heart. It can not buy a dancing mind. It can not buy you a fulfilling wisdom or furnish you with a well kept soul.

It makes sense that Bill Clinton will headline the Swell event. A politician like him and a cryptocurrency like Ripple were made for each other.


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