Tag: ethereum

Cryptocurrency Is Alive and Better Than Ever

By Max Bibeau | United States

With the prices of cryptocurrencies continuing to plummet across the board, some have been quick to assume that the “crypto wave” has passed and that its time in the spotlight is over. Some articles even go so far as to claim that the Bitcoin bubble has popped and that the technology may not recover for some time, if ever.

These claims could not be farther from the truth.

What Drives Markets?

To understand why cryptocurrency’s price is so far down in the first place, we must first understand that the prices of all cryptocurrencies are driven by FOMO (Fear Of Missing Out) and FUD (Fear, Uncertainty, and Doubt). Through the second half of 2017, crypto experienced a surge of FOMO, with Bitcoin being in the headlines day after day with incredible price jumps. FOMO breeds more FOMO – until it doesn’t. A series of events occurring in a very short time in January of 2018 broke the FOMO and entered the market into a period of FUD. A combination of a regular dip in the market, the exposure of Bitconnect as a scam, FUD surrounding crypto being banned in countries such as China and India, and a series of highly publicized cryptocurrency thefts drove price dips, increasing FUD even more.

Price Is Irrelevant To Developers

Now that we understand how exactly we got to this point, we can explore why crypto is not dead. The key thing to remember is that price doesn’t affect developers. Sure, many of them hold a significant amount of their own cryptocurrency, and the crash has affected their personal holdings – but very few, if any developers are solely reliant on cryptocurrency, and can be supported by grants, jobs, donations, or other factors.

Since developers work independently of price, innovation has continued at breakneck speed, even though the market appears to have crashed. Almost every single major cryptocurrency continues to develop and grow, some of them at an even faster pace than during the FOMO.

Bitcoin

Bitcoin has finally started to deliver on its long-awaited lightning network, expanding the technology and resolving some major bugs that caused problems on the new network. The technology is continually being developed, with hundreds of developers working on Bitcoin regularly.

Fees are also down drastically from their peak last year, due in part to fewer transactions occurring, but also in part to the lightning network paired with other developments in the technology’s efficiency. Bitcoin Core has also been successfully able to solve the famed coffee example, with the lightning network being utilized commercially in a Swiss cafe just a few days ago.

Ethereum

Ethereum, while it may seem quiet, has been booming. The whole point of Ethereum is to support decentralized applications, or dapps, and it has been extremely successful in recent months. Thousands of new Ethereum dapps have been put on the blockchain since 2017, and more are being added daily.

After the unprecedented success of the dapp game “CryptoKitties,” which led to users paying up to $100,000 for a single digital cat, countless other games and dapps have sprouted up in recent months. New games, such as Etheremon, are attracting hundreds of users daily and can be played for free. While no huge breakthroughs have been seen in Ethereum recently, there’s no doubt that its blockchain is becoming more and more filled out with dapps, ranging from gambling to gaming.

Stellar

Stellar, often seen as Ripple’s primary competitor, has seen radically increased adoption, specifically among banks. The coin’s list of partners is also continually growing, including big names like IBM. The two have committed to environmental efforts, by using a blockchain solution to create a carbon credit program.

While Stellar may not be seeing strides as great as some other cryptocurrencies I’ve discussed, it’s slowly but surely becoming more and more influential in financial markets, and is increasing its credibility through a plethora of partnerships and improvements.

VeChain

Arguably the most well-maintained on this list, VeChain has undergone an entire rebrand, transitioning from VeChain (VEN) to VeChain Thor (VET). VeChain also added a token to be paired with their main coin called THOR. The token is obtained by simply holding VeChain, similar to how one can obtain GAS from holding NEO.

Along with their new token, VeChain has launched a new wallet in the form of an iOS/Android app that can be downloaded on the app store. With a simple UI and automatic flow of THOR for holding VET in the app, the wallet is one of the most user-friendly programs out there. The VeChain team has clearly been busy with a new wallet and token, not to mention their new partnerships with big names like BMW.

Crypto Lives

Clearly, after examining only four of the top cryptocurrencies on the market, we can see that while prices have fallen dramatically, the technology behind cryptocurrency surely lives on. Developer teams are still working hard to improve their technologies, and partnerships between mainstream companies and cryptocurrencies are becoming more and more common.

Nobody can fully predict when the market will rise again – it will undoubtedly take a series of important and “good news” events to break out of the current FUD in the market – but the technology is there, even if the prices remain low. While crypto is largely out of the mainstream media due to the loss of FOMO, that hasn’t stopped innovation and partnerships from occurring throughout the entire market.

Cryptocurrency has been out of the spotlight for months now, and it may be a long time yet before the FOMO catches back on. However, when the FOMO returns, the technology will be ready and waiting.

 


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Cryptocurrency is Taking the Next Step into the Mainstream

By Nick Hamilton | United States

Cryptocurrency is about to become much more accessible when making purchases in public.

Square, a major digital payment service that Twitter CEO Jack Dorsey leads, has won the patent to allow merchants to accept crypto payments, such as Bitcoin. The service would then transfer the payment into the local currency.

Cryptocurrency: Payment of the Future

Dorsey has said that he believes cryptocurrency will be the leading method of payment in ten years. Adding Bitcoin to this service that already supports many major credit cards is a way to make this a reality. This system also eliminates latency in these transactions, meaning approval on purchases will occur much faster. They’ll be able to do this via a blockchain that records Square-managed wallets in real time.

Tackling Major Obstacles

This, of course, means that cryptocurrency payments will process at the same speed of credit card payments. Previously, one of the big drawbacks of crypto was the increased transaction time. Another key issue was a very low accessibility, but Square is tackling both of these issues.

It’s not often that companies who do blockchain research have such an enthusiastic CEO when it comes to cryptocurrency. However, due to this patent, and Dorsey being so invested in cryptocurrency, we could see cryptocurrency emerge more in the mainstream. At the very least, it now will be considerably easier to use. This could mean that Bitcoin’s demand will rise, thus raising its price.

A Bright Outlook

The patent may affect the backbone of the future economy, at least according to Dorsey, who tweeted earlier this year that Bitcoin would become a path towards financial success for all.

As the price of Bitcoin continues to rise, Dorsey’s dream of seeing crypto thrive in the future may be coming true.


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Less Is More: Building a Video Game in a Sandbox built on Blockchain Technology and Cryptocurrency

Phoenix Daniels | United States

For many, the emotions experienced by the mere mention of “cryptocurrency” is one of fear and uncertainty, brought about predominantly by a lack of understanding of Blockchain technology, coupled with a repetitive message from antiquated mainstream media.

However, for those of us who grew up asking “a/s/l?” in IRC the concept of cryptocurrency becoming the dominant form of trade is as easily accepted as the concept of gravity. When we first became obsessed with games and computing, we were geeks and nerds; now games make more money than movies, and the number of Blockchain entrepreneurial millionaires is growing by the day.

Our Mission: to Free Gamers from Labour!

While the mainstream medical authority wishes to push it’s own ideology and agenda to suggest that gaming addiction is a mental disorder, many gamers dismiss this paradigm as basic and unintelligent. Gaming gives us the capacity to experience creative problem solving on a level of intelligence which, quite frankly, is completely lacking in the social interactions of the mainstream majority plugged into mainstream media. Listening to a conversation about the weeks sports resorts or the news is like listening to robots talked to a brick wall, except that a robot talking to a wall would actually be cool because someone had to build it and program it.

There has never been a better platform for tech savvy gamers to create, and #LESSISMOREGAMES is no exception.

Our Mission: to Free Gamers from Labour! The onset of cryptocurrency has created an opportunity for those who spend arguably the greatest amount of their online than any other group in society.

Gaming Evolution

Imagine this: you wake and sleep on your own schedule, based purely around your gaming; your cost of living including food, rent, utilities and general socialising is covered; and you never have to work a job again.

Sound too good to be true? Guess again. Here’s why:

For better or for worse the Central Banks of the world have been run the way they have been run over the last century. The Gold standard was removed and replaced with FIAT: currency that is declared “legal tender” by the government that the Central Bank prints the currency at interest and loans it to. Over time this has lead to massive debt and inflation, and this is precisely why cryptocurrency is so explosive.

It’s pure mathematics. The very capacity for cryptocurrency to be so disruptive and explosive is specifically due to the behaviour of the FED and it’s contemporaries.

The question remains: How does one take advantage of this opportunity?

The success of any Blockchain technology and cryptocurrency relies on the team creating it and the project behind it. Ethereum is an excellent example: By creating and maintaining a decentralized platform for smart contract applications they have created a long-term demand for their product and service.

#LESSISMOREGAMES is developing a Role-playing Game in a Dynamic Interactive Sandbox (DIS) built on Blockchain technology and backed by its very own Cryptocurrency.

The focus of this Gaming Evolution centres around two core themes; #makeyourownfun and #lessismore. Rather than build a massive expansive world our DIS will provide players with the capacity to actively shape their environment through their interactions with both AI and other players. Thus the size and shape of the Sandbox itself will give a Dynamic response based on the interaction of the players, making it a true expression of creative Freedom. Blockchain technology provides us with the capacity to build scalable networks, allowing us to grow the Sandbox organically with server demands. Finally by backing it with a unique Cryptocurrency known as $KEL we are creating the capacity for the player to earn tokens for playing the game and participating in the marketplace.

So while others may ask, “Don’t you think Bitcoin is a bubble?” we and those like us are growing increasingly too busy with our own projects to respond.

FIAT is the past, Cryptocurrency is the future. Whether you believe us or not is irrelevant, we’re going to do what we’re gonna do whether others understand it or not. Always have, always will.

We’re gamers. 😎


https://twitter.com/LessIsMoreGames

https://www.crunchbase.com/organization/lessismoregames

https://github.com/lessismoregames

https://www.facebook.com/LessIsMoreGames/

https://www.instagram.com/lessismoregames/

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Austin Petersen Is Bitcoin’s Best Chance In Congress

By Spencer Kellogg | @TheNewTreasury

We are less than a month away from Missouri’s GOP primary on August 7th, and Austin Petersen is standing strong behind his support for Bitcoin and alternative currencies. Following an open-faced attack on Bitcoin from Representative Emanuel Cleaver of Missouri, Petersen promised to “stop cryptocurrency regulation” if he is elected to the United States Senate.

Petersen is a long time cryptocurrency advocate who ran for president as a Libertarian in 2016. He is now at the end of a heated primary race against Josh Hawley, the sitting Attorney General of Missouri. Hawley has had to battle off Petersen’s determined grassroots campaign along with questions from both the state GOP and the national media who have spotlighted Hawley for his ineptitude and lack of interest in the primary campaign. Petersen has seen a major wave of youth support that has enabled his campaign to reach tens of thousands of Missourians through phone calls and knocking on doors in the past few months alone.

This isn’t the first time that Petersen has made headlines in the cryptocurrency community. His campaign began taking Bitcoin donations through BitPay (here) last summer and in February, Petersen received the largest Bitcoin donation ever made to a US political campaign at the time: 0.284 BTC, which was then valued at $4,500 USD. Three months later, his campaign was gifted a stunning $250,000 dollars worth of Bitcoin that the team had to return due to Federal Election Committee (FEC) rules.

Speaking with CCN last year, Austin Petersen elaborated on how his limited government stance on the American financial infrastructure has instructed support for open market cryptocurrency conditions:

Bitcoin’s disruptive influence is just what our financial system needs at this time. For too long, the federal government has had exclusive control over currency, stymying competition and growth by falsely limiting consumer choice — a fact we would all be aware of were the Federal Reserve subject to the same kind of audits privately-held companies are. Cryptocurrency represents the future of American creativity and American liberty, and I’m delighted to accept campaign donations in this form.

An atypical politician, Petersen has been banned from Facebook twice for raffling off donated AR-15’s to his campaign. He is a devoted supporter of the 1st and 2nd Amendments of the Constitution. This is evidenced by his pro-gun commercial titled “no compromise” that has been airing all over Missouri televisions recently. His limited government message of less bureaucracy and more freedom makes him one of the most exciting candidates that America has seen in the last half-century. Crypto has always been an outsider economic revolution and Petersen is a political one. That it would be a farm boy from the plains of Missouri to lead the cryptocurrency charge into the beltway seems in many ways fitting.

Petersen represents the first American generation of crypto-conscious politicians. While there are a few crypto advocates in Congress today, none have been so vocal and open in their support for alternative currencies and blockchain technology. Petersen has, again and again, recognized the artistic, cultural and economic liberties that are the heart and soul of the Bitcoin community and his insightful knowledge of United States monetary policy makes him an eloquent defender of the sector. His pro-capitalism ideology is rooted in a strict, hands off interpretation of government’s role in a citizens life that champions innovative financial networks like Bitcoin instead of demonizing them. All of this makes him a natural fit in the new currency scene which emphasizes privacy, liberty and peaceful transactions by free market standards.

If Petersen can triumph over Hawley his campaign has polled strongly against Democrat incumbent Claire McCaskill for the general election in November. To learn more about Austin Petersen’s campaign, you can find his candidate website at the link below:
https://www.austinpetersen.com/


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Bitcoin Is Not Dead

By Spencer Kellogg | @TheNewTreasury

Contrary to popular belief: Bitcoin is not dead. It’s just sleeping a bit. And perhaps it deserves some rest given the parabolic and insatiable rise in valuation and adoption it has seen in its less than 10-year existence. Think about that: 10 years. In the history of money, 10 years isn’t even the blink of an eye. We are still in those early drunken stages of undisciplined poking about in which everyone is set to knock around the darkened room of questions until we find a door that leads us to the next confounding labyrinth. In truth, we haven’t even seen what this thing is capable of yet.

Over 6,000 years ago, humans first developed a system of market exchange: bartering and trade. Seashells, stone tools, teas, salt, spices and anything else that could provide an agreed upon value was used for the peaceful exchange of goods. Horses were domesticated and became a living currency to many of the native prairie nations that roamed the American southwest. It wasn’t until 600BC that King Alyattes of Lydia minted the first currency, a coin of gold and silver with a lion’s head on the front. Today, the mobile phone credit M-Pesa is used successfully as a unit of exchange in the nation of Kenya. Currencies are diverse and linger most reliably in the eye of the beholder. The-First-Coin-2.jpg

– King Alyattes of Lydia Coin

What is a currency? In the Mike Maloney’s brilliant “Money vs. Currency” YouTube series, he defines a currency as “a unit of account that is portable, durable, interchangeable, and divisible.” From its inception, Bitcoin has attempted to answer each one of these demands through an encrypted network of peer to peer users working in a global, peaceful, and pluralistic system of equals. It strives to help humanity in a way that asserts an individual’s right to life, liberty and the pursuit of happiness in face of crushing multi-national governments and banking entanglements that far too often overlook the majority’s interest in favor of wealth and power stratification.

Bitcoin is not nearly as anonymous as it probably should be and the speed/costs of using the technology are still too high in relation to other already viable payment options, but these are issues that are constantly discussed and addressed within the community. Sathosi Nakamoto’s currency requires time to reach a consensus and in many ways, this is how all great democracies have functioned; through anxious debate and slow lumbering changes. Tyrannies are those that are built behind bayonets in the dusk of an economic collapse.

In the Genesis Block of Bitcoin, there was a coded message. It read: “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.” Created on the heels of the 2008 financial disaster, Bitcoin was a universal, internet-based alternative currency that rejected both the predatory boom and bust cycles of global Keynesian economics and the ‘injection of cash’ theory that modern governments asserted as they bailed out underperforming banks, mortgages and car companies along the way.

CXyH3c0WEAAbs9C.jpg

– The Times of London Newspaper January 3rd, 2009

Today, the United States national debt stands at a staggering 21 trillion dollars and growing. That’s roughly $64,000 dollars for every single American. For what? So that Bank of America could swallow up a few regional branches here and there? So that Chrysler and General Motors could go on making cars? So that we could torch and murder our way through entire nations only to find the chief architect of 9/11 hiding behind shining palace doors in the US-allied nation of Pakistan? I remember people losing their houses, the country is $21 trillion in debt, millennials are saddled with student loan debt and yet the stock market keeps rising. See anything wrong with the picture? Our leaders are happy enough to forget that any of this ever occurred. They are on to the next fundraiser in Iowa to bang the podium for a fat check. It’s all a farce!

What happens when the bill comes due though? Who do you imagine will pay the price? It will be the global majority of underpaid and overworked servants who are expected to answer the call. The ones who ride the ever-growing line between lower and lower economic classes will suffer most. The men and women who are shipped off to meaningless wars made possible by the various centralized banks of untouchable power and wealth. It is always the already weak made weaker by bloated, selfish governments who suffer the final, eager blows. Whether under the crushing weight of a religious text or the pervasive dogmas of 20th-century neoliberalism, the uber-elite of modern governments have held the final say.

Until Bitcoin. Yes, that Bitcoin. That decentralized, peer to peer, free market, global equalist, anarcho-communist, radical syndicalist, definitionless Bitcoin. We, as a global community, have overlooked it again. The real reason we all ended up with private wallets and paragraph long seeds: freedom. The freedom to opt out of the federal reserve notes that have provided the ultra-capitalist lifeline to an empire of war after war while the dollar devalues with greater certainty each passing quarter. Next, they tell us we must build a great military industrial complex in the sky. We just want bread.

This movement is not about the Hong Kong mansion parties. It’s not about crypto famous edgelords who may or may not have received an airdrop in their ether wallet. It’s definitely not about tacky, gaudy, ugly, pompous, gross Lamborghinis either (at least go for an Aston-Martin for God’s sake). Bitcoin is about what we are witnessing in Venezuela where citizens have turned to the cryptocurrency as a store of value while their own nation’s currency has become completely worthless over the course of one year. The people of Venezuela were neutered by a neo-socialist government that did not care for its people’s wellbeing. With Bitcoin, at least the people of Venezuela have the option of another way. rgplbYc8ClSqfqlrGYQSRebtrCg4wRRpjMreNOevEAo.jpg– Genesis Block Of Bitcoin

The cryptocurrency community is in a sort of collective paralysis at the moment. Somber and gossipy, it’s tripping on a heady mixture of hedonism, jealousy, emptiness, and outright fear. Many were later to the game than they really wish to admit and the general consensus feels bearish. For now. The same greed and power that Nakamoto hoped to disembody have manifested themselves into the community where market vampires and juvenile venture capitalists have accrued en masse. They have unlearned, or never learned, the core narrative of Bitcoin’s original intent: a rebellion.

An American and a Russian and a Kenyan and a Columbian and a Pakistani walk into a bar and they all enjoy the same cold beer. That was always Bitcoin’s mission. Not fame or fortune but to bring differing peaceful people to the same beautiful table of ideas. To sit them down and show how much they each have in common with one another when the brutal nationalism of war and economy have been stripped away. To forge a new and humane way forward. The only question is if we are strong enough to do it.


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