Welcome to the Series #2 of Blockchain Gossips – No Thanks To Blockchain Hypertensive Technology
♣ “To be clear, I never said that there is “no room for growth” in the crypto ecosystem. I said there is no room for *1000x price increases*.
A 1000x price increase from today means $200T in crypto, or ~an entire 70% of today’s global wealth being in crypto” – who made the statement and to whom? Huuuuuh.
♣ Hispanic Americans more often believe cryptocurrencies are used for legal purchase – what a rushhhh.
♣ Iranians desperately buy cryptocurrencies fearing US sanctions and economic instability.
♣ Demand for bitcoin rises as the first cryptocurrency shows less volatility than the national currency of the Islamic Republic – blatant liesssss?
♣ Object management group around Dr. Richard Soley wants to standardize IOTA – bigger milestone.
♣ WE ARE AFRICAN: Binance Labs is a decentralized organization. We have no headquarters, no office, and no geographical boundaries.
We are just as African as we are Asian or European. The blockchain revolution will be a global one and Binance Labs will consider investments in all non-sanctioned countries.
In Africa, we feel very much at home and we want to deploy our capital there.
There you have them, the Blockchain Boom explosions that took place over the last days.
I tell you.
A whole lot of allegations and point fingerings took place over the days.
Believe me, I love this. So, buckle up because this series #2 will blow your mind.
BLOCKCHAIN WILL STAY
A lot happened in the Blockchain Technology adoption.
It so happened that according to CNN.com, Crypto Giant Huboi Partners Singapore Trade Union to Promote Blockchain Skills, also, 2 New Ark Partnership Announcements!
The team just partnered with Crypto Union, the world’s first decentralized bank, and MARAChain who encrypts data sent over the blockchain.
This coupled with the new Core Devnet launch shows that Ark is a force to be reckoned with!
So, if you are a holder of ARK or an IBM shareholder, we can say that you are up for a great game.
Before we Kick Start, do you know that a lot has happened in terms of crypto enthusiasts vulnerabilities? See below.
Pls support us by tweeting, thanks.
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BLOCKCHAIN GOSSIPS: 10 EVENTS YOU NEVER SAW COMING
#1. BITCOIN FORK AROUND
After we have had like 8-10 bitcoin Hardfork and some copycat Cryptocurrencies, we just learned that there will be another Bitcoin fork.
And the annoying thing is that the fork is probably coming up in about 111 hours from now.
While it is annoying, the semi-annoying thing is that the new Bitcoin is called Bitcoin One and they claim it will be FAST | LOW-FEE| DECENTRALIZED | PRIVATE.
They strongly believe that they have the following options: Speed, Block Time, Larger Block Size, Zk-SNARKs Privacy, Equihash PoW Algorithm, and Difficulty Adjusted Every Block.
The big question here is, are we not seeing other Blockchain projects tackling these or are we to believe that this is the best solution to Bitcoin’s immutability problem?
If yes, what about other projects like Ripple, Dash, Eos, Monero and more?
Okay, I have stated the annoying and the semi-annoying thing about it.
Now, a non-annoying option is that you can gain from it because the Airdrop is coming up as well. See below.
As stated on their website, they are Airdropping as follows.
If you ask me, I will say, this is crazy.
#2. IRAN’S CRYPTO FANATICA
Coming from the redemption camp of being among the other Crypto/Blockchain friendly countries, Coinfox.com reported that Iranians are desperately buying cryptocurrencies fearing US sanctions and economic instability.
According to them, it was learned that the demand for bitcoin rose as the first cryptocurrency shows less volatility than the national currency of the Islamic Republic.
And what do you think has caused this Bitcoin hit if only there is truth in the story? I would have told you but I am so excited to move on to another point.
Now, go here and see why – the allies that seem unbroken.
As the demand for bitcoins in Iran continues to grow. It was learned that the Iranian local currency Rial fell to 148 thousand for $1.
A wonderful pondering point was that Bitcoin reached the price of $24,000 on the Iranian cryptocurrency exchange EXIR after the Iranian government recognized mining as a separate type of economic activity, thereby recognizing this type of earnings as legitimate.
The latter is what seemed faulty because other sources broke out that Bitcoin was never $24,000 in Iran.
Well, be it as it may, all I know is that Iran is now a top Crypto/Blockchain friendly country by indictment.
#3. GOLDMAN SACHS
It is true that just like Blockchain will/may never die, so, will gossip never die.
Now there were rounds of info that Goldman Sachs was quietly shuttering its bitcoin operation before it even got off the ground.
CCN.com reported that the CFO of Goldman Sachs, Martin Chavez characterized a report that the investment banking giant was shelving its much-hyped plans to build a bitcoin trading desk as fake News.
Also, as was covered by CNBC, the CFO said, “I never thought I would hear myself use this term but I really have to describe that news as fake news,”
To round it up, Chavez added that the firm isn’t yet ready to begin making markets in “physical bitcoin.”
“When we talked about exploring digital assets that it was going to be an exploration that would be evolving over time,” he said.
“Maybe someone who was thinking about our activities here got very excited that we would be making markets as principal and physical bitcoin, and as they got into it they realized part of the evolution but it’s not here yet.”
Hmm. Well, if you had also heard the above, now you know it was only a usual FUD from Fudsters.
#4. CANADIAN EXECUTIVE IN FOR STEALING OVER US$5 MIL
It does not get so bad than reporting or filing a lawsuit.
In a lawsuit filed by Shair.com Global Digital Services, the marketing firm accused Jason Arnold, its former chief operating officer, of stealing up to US$5.3 million and then claiming it was all lost after his company-issued laptop ‘died’.
The Supreme Court of British Columbia consequently issued a ruling last month directing Arnold to turn over the computer regardless of its current condition.
How it all started?
Well, Jason Arnold, a senior executive at a Vancouver, British Columbia-based marketing firm allegedly preyed on the ignorance of his employer regarding cryptocurrencies to take off with digital assets worth millions of dollars.
As reported by CCN, at the beginning of 2014, Arnold informed his employer that he had set up a bitcoin wallet as well as created a paper back up and a digital backup on the company’s Citrix server.
Between June and August of the same year, Arnold was given US$14,000 to buy bitcoin which would now be worth US$172,000 or US$5.3million if it had been converted into Whitecoin (XWC).
This was determined after an investigation conducted by a digital currency consultant hired by the plaintiff.
That is it. I was scammed my last Bitcoin so I know how painful the above can be.
The truth is that the money might be gone unless due diligence it committed.
Can you even imagine that investigation also uncovered the fact that the defendant had acquired bitcoin on behalf of the marketing firm as early as January 2014 but the plaintiff was not informed of this development?
That is not a good story, no, no no.
Now, this is why I always believe in deep cryptocurrency insight before you take a step.
The following will help you do that without the surprise of your life.
These are the 12 ugly investment steps you ignore as a cryptocurrency trading beginner & investor (failure guaranteed!).
Also, it is not hard to learn the 5 Lessons, 20 Pitfalls, & How 35 Cryptocians Invest & Manage Their Cryptocurrency Portfolios.
And talking about safeguarding your assets, you can learn from Cody Brown on Crypto Wallet Security & Management–Part 1: 10 (Life Experience).
We analyzed that USA was lacking behind in terms of Blockchain and overall economics, now, they seem to have turned the odds around because they are playing the cards so right now.
It does not just go as far German women buying Bitcoin and Cryptos on daily basis, now, in the US, about 80% of the US citizens know about Bitcoin and what it was created for in the first place.
According to YouGov’s survey/study, Bitcoin leads the field in terms of awareness, with 71% of participants recognizing it by name.
The next closest contender, Ethereum, garnered 13% recognition.
The survey, which was fielded on Aug. 29 and 30, listed 16 cryptocurrencies: Bitcoin, Ethereum, Litecoin, Zcash, Dash, Ripple, Monero, Cardano, Stellar, NEO, EOS, NEM, Dogecoin, Midseason/SafeCoin, Lisk and Storjcoin X.
Now, while the awareness is great because solving a problem starts by acknowledging that you need help.
So, as far as there is a unique 80% aware of cryptocurrencies, usage stat can increase even more than what we saw it.
#6. WINKLEVOSS BROTHERS WIN PATENT
This is a great one except that the headline is not okay by me.
The best headline would have been the Crypto/blockchain Billionaire brothers win Patent to manage computers that would be isolated except when necessary to transfer assets, essentially acting as a cold storage device.
As was reported by Coindesk and filed under the brothers’ firm Winklevoss IP, LLC, the document – published Tuesday by the U.S. Patent and Trademark Office,
The document outlined a plan to develop a network of computers capable of generating accounts for storing cryptocurrencies or cryptocurrency-related exchange-traded products (ETPs).
As part of a security measure, the computers would be isolated except when necessary to transfer assets, essentially acting as a cold storage device.
How It Will Work
The computers would generate these keys for new accounts, which would then be segmented into parts and written onto an external memory device, such as a flash drive, CD, DVD or written down physically onto a laminated card, sheet of paper, piece of plastic or even papyrus, according to the document.
More so, the patent suggests various ways of manufacturing cards: “for example, two sets may be stored on paper, and a third set is stored on papyrus,”
The interesting part,
Note that at least one set of keys must be stored on an electronic memory device.
The keys should be delivered to a key storage company in person, via mail, or via fax, or created right at the secure storage site.
And to access the storage, the owners of the keys should provide three forms of identification.
Now, this is great for the users of Gemini and other crypto enthusiasts.
Where to start from is seeing how to use or why you should never use this kind of wallet.
#7. UZBEKISTAN WITH CRYPTO TRADING
After taking a bullish step to making the era of crypto and blockchain a reality, the new presidential decree legalizes cryptocurrency trading in Uzbekistan, introducing licensing for crypto exchanges, and a set of requirements they will be obliged to meet.
With a minimum monthly wage in the country standing at 1,453,200 UZS (~$185 USD) as of 2017, now, to operate in the country, foreign trading platforms will have to establish local subsidiaries and abide by the country’s relevant laws.
Specific Options for Trading Platforms
The presidential decree contained a list of mandatory requirements that companies applying for a license to trade cryptocurrencies in Uzbekistan are obliged to meet.
Some of them are:
They must have an authorized capital equal to at least 30,000 minimum wages on the day of the filing of the application.
The equivalent of 20,000 minimum wages has to be reserved in a separate account with one of Uzbekistan’s commercial banks – as reported by news.bitcoin.com.
Now, I don’t know how you see this, but for me, it is rather great to control a mad dog than free a humble cat in the presence of a rat.
[bctt tweet=”it is rather great to control a mad dog than free a humble cat in the presence of a rat.” username=””]
What does that mean?
It is better to put down an achievable and strategies to go about a new technology such that it won’t hurt the citizens than leaving it for them to die inside or even banning it for no reasons.
As for me, I salute Uzbekistan’s President, Shavkat Mirziyoyev – he is a good man.
#8. INDIA IN 3 ZONES FOR CRYPTO STUDY
I would say this is the best news of the last days about India and their adaption quest of the cryptocurrency.
Well, on a good note, it was learned that the Securities and Exchange Board of India has sent officials to Japan, the UK, and Switzerland to study cryptocurrency and initial coin offerings from each of the three countries’ financial regulators.
The securities watchdog aims to engage with international regulators and gain a deeper understanding of their crypto mechanisms and systems in order to improve its own process.
The report explained, “SEBI on a regular basis enables study tour of SEBI officials to overseas authorities. These study tours help engage with the international regulators and gain a deeper understanding of the systems and mechanisms.”
The securities watchdog noted that in the past, it “has benefited a lot from these experiences and the knowledge transfer helps improve the processes within SEBI.”
What is not all that Good?
As reported by news.Bitcoin.com, the country’s Supreme Court is hearing all petitions against the central bank’s crypto banking ban on September 11.
What is good?
SEBI will also be at the hearing. The crypto industry is hopeful that the court will lift the ban imposed by the RBI.
Be it as it may. I think this is a great move that shutting a tech up because we perceive it as not great enough.
So, if this work out positively, we can say, धन्यवाद to the government of India or SEBI. And of course, it will cement their place as a top 35 Blockchain hub.
As a Crypto Data and Analytics Blog, I present to you the following guides.
#9. WORDS STRIVE WITH NON-GIVER OF ETHER
By now, you should know that Vitalik is a non-giver of Ether, so, there is no need to support him if you think he is wrong on this one. On what?
It was believed last week or so, that Vitalik said there was no room for growth in the crypto ecosystem. In his undying statement to clarify himself on his Twitter handle, he said,
To be clear, I never said that there is “no room for growth” in the crypto ecosystem. I said there is no room for *1000x price increases*.
A 1000x price increase from today means $200T in crypto, or ~an entire 70% of today’s global wealth being in crypto.
So, do you believe the Ethereum dude/crypto thought leader?.
#10. GOOD NEWS FOR AFRICA
And if the info/rumor is true, then, this is great.
As reported by CCN, Binance Labs Director Benjamin Rameau has stated that Africa is front and center of the company’s expansion strategy as it bets on a vision of the 21st century driven by the world’s youngest population gaining increased access to technology and opportunities.
Well, since this vision has been extended to Malta, as far as Africa is concerned, the revenues from Africa alone can overshadow most Blockchain countries.
To round it up,
As was posted by Benjamin Rameau, he comprehensively outlined why Binance believes that the future is African.
This came from the historical comparison of Africa to Asia in the 1960s – also, an under-serviced continent with a poor population.
According to him, the same contrarian investment strategies that proved extremely successful as Asia kicked off an economic miracle in the face of all expectation are likely to reap similar rewards in 21st century Africa.
He further said that unlike in developed markets where it competes with a flawed existing financial system, crypto has the potential to build a completely new financial system in parts of Africa.
The most parts or open option came from the fact that currently exist a no-thanks to financial adoption in some parts.
For instance, in South Sudan, only 9 percent of people over 15 years old have a bank account.
Rounding this up, Binance sees a real possibility for huge growth in Africa.
Already Dash is doing a great work in Zimbabwe and Venezuela. So, I am bullish if this happens.
Be it as it may, let’s keep our finger crossed and see if it shall BE as they have said.
And before we go, should you want to buy Blockchain Projects from Binance, this is how to buy any project like BAT there.
It still stands that we ain’t seen anything yet in the Crypto-Blockchain Technology. All we need to do is see how far the application of these projects will transform us.
And as of the time of writing, the Crypto-Blockchain Technology has been deployed to sectors like Finance, Health, Security, Marketing and distribution, Ticketing, Real Estate, and counting.
And just to note down other points,
Effectively, Ethereum is a distributed virtual machine that allows end users to construct smart contracts for transactions.
Smart contracts are stateful applications stored in the Ethereum blockchain. These contracts are cryptographically secure and can verify or enforce performance of the contract.
Token contracts are a standard feature of the Ethereum ecosystem.
Ethereum has been used for mobile payment systems, distributed exchanges, tokens pegged to commodities and fiat currencies, market clearing mechanisms, micropayment systems for distributed computing resources, commodities and securities exchanges, crowdfunding, and legal document verification.
Large firms have invested in and deployed Ethereum, with JP Morgan, Deloitte, IBM, Santander Bank, Microsoft, the Luxembourg Stock Exchange, and the Royal Bank of Scotland being key early adopters.
I will bring more of these to you. See you on SERIES #3 – BLOCKCHAIN GOSSIPS; No Thanks To Blockchain Hypertensive Technology.
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