Tag: ether

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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North Korea’s Treaty Has Been Immortalized by Ethereum

By Mason Mohon | @mohonofficial

North and South Korea made history with the Panmunjom Declaration. It effectively ended the Korean war and has de-escalated the situation on the Asian peninsula to a significant degree.

A South Korean developer decided to take the move a step further, immortalizing it on the Ethereum blockchain. Using translations of the treaty in both English and Korean, developer Ryu Gi-hyeok published the declaration through two transactions on the Ethereum blockchain.

Ryu made a permanent record of the Panmunjom Declaration, according to Coindesk. Using hexadecimal data, he published the two versions of the treaty in the input fields of two transactions.

“I wanted to keep the world record of North and South Korea in the world of Crypto… The Panmunjom Declaration, written in Ethereum 551,7596 block, will not go away unless Ethereum is gone.” -Ryu

As long as the Ethereum treaty is in existence, the Panmunjom Declaration will be too. This is because of its nature as an immutable digital ledger, prohibiting it from being censored by any governments, organizations, or individuals.

“Although I did not pay much attention to politics, I was overwhelmed by watching the summit. I just thought it was too long for the South and the North to give each other one step and listen to each other. After finding out what I could do as a developer, I found the Panmunjom Declaration from the Blue House homepage and recorded it on the Ethereum blockchain.” -Ryu


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Crypto All-Stars: Twitter Memes Itself Onto The Blockchain

By Spencer Kellogg | United States

It’s 2018 and the crypto twitter army has spoken. Save your supply-side management and next-generation AI development talk for the plebs. All we give a shit about digital trading cards. In January, Ethereum founder Vitalik Buterin warned that if the community didn’t ostensibly grow the hell up and quit with all the shitposting, he’d take his precious blockchain and bag of gazillion forked eth tokens and walk:

It is clear that no one gives a shit. Little more than a month after the ‘warning’ we stand on the crypto’s latest free-market extremism, the celebrity cult collectible of 2018: Crypto All-Stars. Crypto All-Stars is not your father’s Crypto Kitties. And no, I have no idea what that means but I do know one thing: this is going to moon.

Stalwart humorist and co-founder of the project, Crypto Randy Marsh, had been teasing an exciting development early in the week that could possibly #breakthechain and grind Ethereum’s network to a screeching halt on a wave of exaggerated demand. But demand for what?

Crypto All-Stars is like any other asset collectible. First buyers on the platform will receive a heavy discount (1 card = .001 eth) with each card’s value set to grow exponentially as demand skyrockets and supply shortens. What separates this idea from similar ventures is that it sets real-life characters and personalities at the center of its ecosystem.

The Twittersphere was buzzing with excitement over the possibility of purchasing the card of their favorite Twitter celebrities:

Crypto All-Stars quietly came online Tuesday afternoon but had already swelled to several hundred followers after cross-promotion from its trio of founders. No market moves faster and on thinner news than the cryptomarket and by midnight est, their Twitter boasted close to 1500 followers eager for the live auctions rumored to launch in the morning.

It will be interesting to see how much traffic is generated after the genesis block and whether or not the trading card game can manufacture a bottleneck in the Ethereum network similar to previous slowdowns. In December, Crypto Kitties shuttered the network and showed visible flaws in the scalability of Ethereum. Crypto All-Stars, for all we know, could be worse. Many of the cards will feature Twitter accounts that have tens of thousands of followers each. If there’s a run on the market, Ethereum’s network could grind to a halt on the backs of a simple LOL.

The best part of this project is the good feelings it has generated throughout a community that at times can find itself combative and argumentative. After the past month of valuation loss and price stagnation, this project is a great reminder of how fun and weird and strange the internet can be. For more information and to participate in this project, you can visit https://cryptoallstars.co/.

https://twitter.com/coinyeezy/status/963640552645386241

We always advise investors to do their own due research and to remember that the crypto market is a wild & unpredictable.

The Ethereum of Korea: How Icon Plans To Connect A Country

By Ryan J | USA

Last week proved to be tough on cryptocurrencies, with many tanking over 10%, however, there was one currency that has prevailed, ICON. In just the last 24 hours, ICON (ICX) has gained 154 percent gain, as compared to Bitcoin’s 5% and Litecoin’s 3%. In the past week, ICON’s value has grown by 230 percent – in the last month, 470 percent.

What Is ICX?

ICON is a Korean cryptocurrency started by a Silicon Valley financier. In its first sell-off, the coin garnered 42 million in funding through a Switzerland based company, with many seeing it’s unique attributes. One of these attributes is that it strives for “hyperconnectivity” that eliminates middlemen by creating a system of institutions, including securities firms, hospitals, universities, and banks, many of whom have already joined the cryptocurrency.

The South Korean fin-tech group who started it, Dayli Financial Group, owns over 100 different fin-tech brands, namely Yello Mobile, a startup valued at 4 billion dollars. This gives it an immense potential to go mainstream, as it is owned by a payment system and can connect every part of the Korean economy.

In essence, the new currency is attempting to link disjointed organizations via blockchain – opening ICON (ICX) to a whole plethora of possibilities. “Any mom-and-pop shop can potentially take advantage of something like this,” CFO Min Kim told Forbes. “If we connect every single company in Korea or even half of Korea on our network, that’s a massive success story.”

Whether or not this will prove to be the mainstream currency of Korea is anybody’s bet, however, there is compelling evidence to show the potential it has.

Is NEO The Future of Smart Contracts?

By Max Bibeau | International

NEO, formerly known as Antshares, has caused quite a storm in the cryptocurrency world, especially as it exploded in value in July and August of 2017. However, the technology behind NEO leads me to believe not only is it currently extremely undervalued, but it has the potential to completely revolutionize the world of smart contracts.

NEO is a blockchain system similar to Ethereum, designed to be functional in conducting and executing smart contracts, ICOs, and any other kind of blockchain project. This in itself isn’t revolutionary, as Ethereum attempts to pursue a similar goal. However, NEO’s method of pursuing this goal, and multiple aspects of their cryptocurrency, allow it to be considered a serious contender against Ethereum, and something that may see heavily mainstream adoption in the future.

First, NEO is backed by the Chinese government, using their fiat currency to buy the “gas” that powers the platform. Ethereum, by contrast, occasionally rewards miners with Ether (the “gas” of the Ethereum blockchain) or gave it out in a presale. NEO’s use of fiat money allows for far more stability, cutting down on volatility, something that many critics worry will prevent the mainstream use of technologies like Ethereum and Blockchain. NEO is also backed by a few Chinese tech giants, ensuring it’s financial stability, allowing the developers to continue to upgrade and improve the functionality and applications of the technology.

Also, NEO uses a newer form of block confirmation, called dBFT, or “proof-of-stake.” When compared to Ethereum’s “proof-of-work” method, NEO’s system is thousands of times more efficient, cutting down on the massive energy consumption of Ethereum technology. While in the short term, with NEO’s minimal adoption, this may not be important, it is critical when these cryptocurrencies reach the late-stage period of common use that they all shoot for. Even more critical, is the number of transactions that this system allows NEO to complete. Currently, NEO can process over 10,000 transactions per second. When compared to Ethereum’s modest 15 transactions per second, we can see that NEO has some serious scalability, whereas Ethereum is already facing problems.

NEO was formerly called “Antshares” for a reason – It’s important to note that NEO does not intend to be a “cryptocurrency” such as Bitcoin. It is simply a decentralized, digital system that intends to create a “smart economy.” The actual cryptocurrency being exchanged, identically named “NEO,” is much more similar to a share in a company than a traditional coin or token. The coins will likely continue to increase in value, but more due to the success of the NEO team of developers in making a successful technological innovation, not due to the belief that it will become a leading method of peer to peer transactions. It is similar to Ethereum in this aspect.

So while NEO may have seemed to already have its boom, it seems likely that the near future will bring huge gains for NEO holders, along with ushering in a new method of smart contracts and blockchain confirmations that could provide some real competition to current leaders like Ethereum.