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Hard Fork, Take Two: SegWit2x Will Return Dec. 28, Says Founder

Hard Fork, Take Two:
SegWit2x Will Return Dec. 28, Says Founder

The controversial SegWit2x Bitcoin (BTC) hard fork

go ahead on Dec. 28, according to the project’s official website.The SegWit2x project, which caused months of debate and infighting among the Bitcoin community prior to its last-minute cancellation in November, now says it will fork off at block 501451, due in around two days’ time. The project’s Founder and Lead Developer, Jaap Terlouw, stated on their site that the fork aims to address issues of “commission and transaction speed within the Bitcoin network,” adding that currently, Bitcoin is “almost impossible to use as a means of payment.” Confirmation that the hard fork will, in fact, take place is indicated both in the roadmap on the project’s site, as well as in a direct quote from

Terlouw:

“Our team will carry out the Bitcoin hard fork, which was planned for mid-November.”

The founder also promised that in addition to the common practice of crediting BTC holders with equivalent balances of the new coin (B2X), they would also receive “a proportional number of Satoshi Nakamoto’s Bitcoins as a reward for their commitment to progress.” In total, eight exchanges are listed as official supporters of the fork. The project’s roadmap includes features such as Lightning Network support, smart contracts and, ultimately, anonymous transactions.

Forking season

In the past six weeks, Bitcoin Cash, another Bitcoin hard fork formed in August, has become the central talking point of the industry, as it sees remarkable growth and sparks shifts in mining and investment behavior, affecting Bitcoin’s price.The latest incarnation of SegWit2x has so far received comparatively little publicity. However, the website copy conspicuously name-dropped one particular exchange, HitBTC. Speaking about existing SegWit2x futures, Terlouw is quoted on the site as

saying:

“At the same time, trading of its [SegWit2x] futures has been carried out on some exchanges for a long time. HitBTC is among them.”

When the project first saw hints of a comeback on Dec. 19, futures prices of B2X coins saw an uptick from under $200 to almost $600, a trend which has remained steady prior to the launch. Meanwhile, on Christmas Day, a Blockchain Angel Investor debuted his own ‘version’ of Bitcoin, Bitcoin God (GOD), while several other forks are due to join the ecosystem in the coming weeks. For BTC investors, a key appeal of new Bitcoin ‘versions’ or hard forks  is the duplication of their BTC holdings in the new coin at the time of each snapshot, which essentially provides them with a supply of “free money.”

Chuck Reynolds

Marketing Dept
Contributor

Please click either Link to learn more about Bitcoin.
Interested or have Questions, Call Me, 559-474-4614

David https://markethive.com/david-ogden

Four Tips for Cryptocurrency Users in the New Year

Four Tips for Cryptocurrency
Users in the New Year

While 2017 may have been the year that cryptocurrencies

really started to get on people’s radar, I’m predicting that 2018 will be the year we see them become more widely adopted. Whether you’re just getting into cryptocurrencies now or are already a veteran, here are some tips for the upcoming year. Note: this is not financial or investing advice. Always do your own research and make your own choices.

Do your own research, and be thorough!

One of the most common questions I get asked when at events or by friends and family is, “What is the next big coin I should invest in?” Frankly, I hate this question, because everyone should really be doing their own research into what projects and cryptocurrencies they wish to spend their money on. Not only is that the adult thing to do, but it also saves everyone from the embarrassing situation of blaming someone else for financial folly. Most projects nowadays have a lot of supporting documents and channels through which to get in touch with the team directly. There is no excuse for not being thorough and autonomous in your research in 2018.

Don’t get too attached to any one cryptocurrency

Maximalism in cryptocurrency has never made sense to me. The beauty of crypto’s open-source nature is that if someone disagrees with how a project is going, they can fork away from it, or choose to buy different cryptos. Only believing in one and attacking all others results in a toxic zoo, where all crypto-curious individuals are scared away and all crypto-skeptics feel validated. So don’t get too attached, and definitely be civil in all of your interactions.

Educate as many people about cryptocurrency as you can

I think that the community is what will make 2018 be the year of wider-spread cryptocurrency adoption. So go out there and tell people about it, or maybe even prepare some paper wallets of a cheap altcoin to pass out and let people try it out for themselves. With all the FUD from mainstream media and incessant attacks from skeptics, it is on the community to show off cryptocurrency’s true value.

Lead by example: actually use some of your cryptocurrency

It can be tempting to never spend your cryptocurrencies. After all, what if they go up in price tomorrow? However, exclusively thinking this way turns the cryptocurrency community into a band of speculators, viewing their cryptocurrencies as fiat-correlated assets. That is not the original intention of cryptocurrencies. Cryptocurrency can only thrive if its use cases are apparent to users and adopters. If its main goal is to be a currency, then it needs to be a store of value but also a medium of exchange. Personally, I use a cold wallet for “savings” and a hot wallet for “spending” much like I do with my fiat assets, which seems to work pretty well. Well, dear readers, the end of 2017 is upon us and I hope you’ve had a successful and profitable year. Here’s to the next one; may it be even better.

Chuck Reynolds

Marketing Dept
Contributor

Please click either Link to learn more about Bitcoin.
Interested or have Questions, Call Me, 559-474-4614

 

 

David https://markethive.com/david-ogden

Blockchain Pumping New Life Into Old-School Companies Like IBM

Blockchain Pumping New Life
Into Old-School Companies Like IBM

  • Ledger technology behind bitcoin seen as burgeoning market
  • Microsoft, Oracle expand cloud services to tap demand

Signs That Will Point to Bitcoin Price Stability -Blockchain is getting bigger at Big Blue.

Demand for the technology, best known for supporting bitcoin, is growing so much that it will be one of the largest users of capacity next year at about 60 data centers that International Business Machines Corp. rents out to other companies around the globe. IBM was one of the first big companies to see blockchain’s promise, contributing code to an open-source effort and encouraging startups to try the technology on its cloud for free.

That a 106-year-old company like IBM is going all in on blockchain shows just how far the digital ledger has come since its early days underpinning bitcoin drug deals on the dark web. The market for blockchain-related products and services will reach $7.7 billion in 2022, up from $242 million last year, according to researcher Markets & Markets. That’s creating new opportunities for some of the old warships of the technology world, companies like IBM and Microsoft Corp. that are making the transition to cloud services. And products that had gone out of vogue, such as databases sold by Oracle Corp., are becoming sexy again.

“All of these things will get a new life because of blockchain,” said Jerry Cuomo, vice president of technology for IBM Blockchain. “Our sales team loves blockchain because a customer that is buying blockchain rarely walks out of the store with just blockchain. They walk out with multiple things in their cart.”  Because multiple companies — such as all parties involved in a supply chain — can use the same blockchain, it’s spurring IBM to revise the way it compensates sales associates. In the past, sales reps got paid when their clients bought IBM technologies directly. Now they will also receive a commission when clients encourage other companies to join them on a blockchain network and use Big Blue’s systems and services, Cuomo said.

Bright Sector

The blockchain enables companies doing business with each other to record transactions securely. Its strength lies in its trustworthiness: It is difficult to reverse or change what’s been recorded. The blockchain can also hold many more documents and data than traditional database storage, allowing for more nuanced insights and analysis. It can also hold embedded contracts, such as a lease for a car, whose virtual key could be transferred to a bank in the event of a default.

“Blockchain is one of the bright sectors in technology,” said Roger Kay, president of Endpoint Technologies Associates Inc. “Since blockchain infrastructure is fairly beefy, there will be a large pool of revenue associated with sales of equipment, software and related services for blockchain installations.” In addition to hiring third parties for cloud use, companies will rely more on their own databases for storage, said Amit Zavery, senior vice president of Oracle Cloud Platform. “In traditional database systems, there is only one copy of the data for all parties to reference, but blockchain’s distributed nature means all of the peers now hold a copy of the data,” Avery said. “That will expand the data storage requirements on businesses, especially those in industries with typically high transaction rates.”

In October, Oracle announced the formation of Oracle Blockchain Cloud Service, which helps customers extend existing applications like enterprise-resource management systems. A month earlier, rival SAP SE said clients in industries like manufacturing and supply chain were testing its cloud service. And on Nov. 20, Microsoft expanded its partnership with consortium R3 to make it easier for financial institutions to deploy blockchains in its Azure cloud. Big Blue, meanwhile, has been one of key companies behind the Hyperledger consortium, a nonprofit open-source project that aims to create efficient standards for commercial use of blockchain technology. IBM also offers companies a free trial of blockchain in its cloud.

Wal-Mart, Visa

Almost six in 10 large corporations are considering using blockchain, according to a Juniper Research survey of 400 executives, managers and tech staff. The technology is increasingly being tested or used by companies such as Wal-Mart Stores Inc. and Visa Inc. to streamline supply chain, speed up payments and store records. Deployments of blockchain should bump up sales growth in cloud services, databases and servers by 35 percent, according to Susan Eustis, chief executive officer of WinterGreen Research. Within five years, blockchain technology will push more than 55 percent of large companies with more than 1,000 employees to use the cloud instead of their own data centers, up from 17 percent today, she said. 

IBM is selling more messaging systems to deliver transactions into the blockchain, web-interface products and API systems to easier communicate with the chain and web app environments, Cuomo said. Sales of databases could rise as well. “We are seeing a lot of momentum and excitement in this space,” said Matthew Kerner, partner general manager for blockchain at Microsoft.

Chuck Reynolds

Marketing Dept
Contributor

Please click either Link to learn more about Bitcoin.
Interested or have Questions, Call Me, 559-474-4614

David https://markethive.com/david-ogden

Why the Service Industry Needs Blockchain, Explained

Why the Service Industry Needs Blockchain, Explained

How is the service industry doing?

The service is developing not as fast as it could. Like any other business, the service industry is trying to keep up to date. But there are still some issues slowing down the progress. Money. It’s not that simple to get the money to start a new business or to expand an already existing one. It’s not always possible to get a loan since banks may think you are too young or too old, your credit story is not good enough, or your idea will not be in demand.

Personnel. In current realities, the service requires highly-qualified staff. It’s not enough to find competent people and train them. If you have a network of businesses, you have to make an effort to work them as a whole one. Information. Nowadays, information is one of the most important resources. The Internet has made information transfer faster and easier. However, there are a lot of people involved in the transfer chain. Delays in communication between the links take a large amount of time.

How can Blockchain help?

Ongoing Blockchain technology is able to solve the above-mentioned issues. Money. You can launch your own ICO to get the money to start a new business or expand the existing one. If the idea is great and presented properly, it can raise a lot of funds. Besides, hedge and venture funds show their interest in Blockchain. Smart contracts will make the transactions fast and reliable.

Personnel. The distributed ledger facilitates finding a good employer. Blockchain makes it easier to check the education, skills, work experience, and much more. Moreover, technology provides the communication between departments and managers which improves personnel management. Information. The decentralized system allows sharing information promptly. All information is rapidly distributed between the nodes. The information stored in Blockchain cannot be changed and at the same time, you have access to see how the business processes are going.

How can Blockchain improve hospitality?

Hotels will get more information about tourists and facilitated check-ins. Blockchain stores all the information. Thus, if a tourist checked in a hotel, it would simplify next bookings and the registration process. If a hotel is a part of international hotel chains, keeping track of all the guests is not an easy task. The ledger monitors the number of bookings and updates the information about available rooms in real time. Any violation or even attempt will become publicly available. And an so you can check a tourist’s  or a hotel’s, and its staff, reputation before making any reservations. The payments have low fees and are processed quickly from any place on the planet.

And what about catering business?

Restaurants can track all the data about supplies. Each day catering business has to communicate with a lot of food, logistic companies, etc. The supply chain is rather long. It requires a lot of paperwork, transactions, confirmations, and other procedures that require a huge amount of time. The decentralized system allows to get necessary information much faster and accelerate the processes. Each food product has its own shelf time. Expired products are a very bad spot on the reputation of the food brand. Blockchain fixes all the data about the food, storage conditions, delivery time and indicates rotten products.

Why does car business need Blockchain?

There is a lack of communication between the participants of the business. The car industry is a dynamically developing business. In 2016, more than 78 mln cars were sold in the world. There are a lot of institutions involved: manufacturers, banks, drivers, repair stations, etc. Each of them possesses information that is useful for other participants. For example, manufacturers need to know what kind of breakages a particular model has and how often it happens to produce the necessary amount of spare parts.

There are different decentralized platforms, like Uservice that aim at bringing together all the parties involved and create a unified database about cars. For instance, a car owner can register their car and get paid for the information that they will provide to the platform. So every registered car record will be updated and users of the platform can track what kind of issues this model has or doesn’t have.

Can the decentralized technology be used in insurance?

It can increase trust between clients and insurance companies, prevent frauds. Insurance companies note that there are trust issues among their clients. The system of insurance calculation, high prices and low efficiency discourage consumers. Blockchain technology is transparent, it can restore the trust to how the system works. Smart contracts allow to make insurance contracts clearer and more reliable. The code will be automatically executed if an incident happens. Authenticity verification is one of the biggest problems in the field. Using decentralized register, manufacturers, customers, insurance companies, and others can see all the history of the product, even check if it was stolen or is a counterfeit.

How can Blockchain help e-commerce?

Decentralization will bring transparency, credibility, fast transactions and low fees. Trust comes to the forefront again. Trading is made from a different part of the world. You cannot see a consumer or a seller. There is no guarantee that you won’t get involved with a fraudster. Blockchain makes all the processes see-through to everybody. Smart contracts make sure you receive money or goods/services. Plus, there is no third party involved and it reduces expenses significantly.

Chuck Reynolds

Marketing Dept
Contributor

Please click either Link to learn more about Bitcoin.
Interested or have Questions, Call Me, 559-474-4614

David https://markethive.com/david-ogden

Once the cryptocurrency bubble bursts, there may be real innovation and a solid valuation case for many coins

Once the cryptocurrency bubble bursts, there may be real innovation and a solid valuation case for many coins

  • Once the hype around cryptocurrencies dies down,
    there may be some real value created
  • This could come from some of the other digital coins
    on the market such as Ethereum and Ripple
  • Valuing these might become easier when
    they are used in the real world

The world of cryptocurrencies

is one of the most divisive topics in finance right now. On the one hand, figures like J.P. Morgan CEO Jamie Dimon have called it a "fraud" and dubbed those trading it "stupid." On the other hand, there are those who see cryptocurrencies as one of the most revolutionary forces in finance. But amid the debate, there are a lot of people asking how to value this stuff and why bitcoin has traded nearly as high as $20,000.

The answer right now is simple: There are no fundamentals.

Even Robert Shiller, who won the Nobel Prize in 2013 for assessing asset prices, recently remarked that the value of bitcoin is "exceptionally ambiguous." There's no doubt that there is immense amount of speculation in the cryptocurrency market. But when the bubble bursts and the hype dies down, that is where we may find value and it all comes down to the use cases for the different coins on the market.

When bitcoin was created in 2009, the aim was to be an electronic cross-border payments system. The problem now is that bitcoin transactions are at record highs with faster traditional payment systems actually proving a better means. It's hard to say bitcoin has an inherent value beyond the belief of the people trading it. But as many have said, it could become "digital gold," in which case the price is likely to go higher. But looking forward, it's highly likely that other digital tokens could surpass bitcoin because of their utility.

Take a look at Ethereum. The company bills itself as a blockchain platform for others to build apps on. Blockchain is the underlying technology behind bitcoin and acts as a decentralized ledger of transactions. But its uses span far beyond bitcoin. Ethereum has its own blockchain which companies like Microsoft and J.P. Morgan are experimenting with.

Ethereum is specifically designed for so-called "smart contracts" which are pieces of software that execute a contract once certain conditions are met by all parties involved. This removes the need for complex paperwork and errors. Ripple is another blockchain company that is working on cross-border payments across different currencies in seconds. The digital coin created by the company called XRP, acts as a bridging currency to help facilitate transactions.

Both Ethereum and Ripple have seen stunning rallies this year, but both are in the early stages of their experiments. But in the future, valuing them could be easier. For example, if Ripple began to process a fraction of the trillions of dollars that is transacted across borders, we could start to put a price on one XRP. If Ethereum was responsible for a number of trade finance deals, we could use a similar valuation metric.

Of course, this is all very simplistic, and the biggest risk is that people lose belief in these platforms and cryptocurrencies. They are also in danger of being replaced by something better. Cryptocurrencies or digital tokens are here to stay but it's unlikely they'll survive in their current form. One big plus of this current bubble bursting however could be that we get some real innovation across a number of industries, with valuations a little clearer to understand.

Chuck Reynolds

Marketing Dept
Contributor

Please click either Link to learn more about Bitcoin.
Interested or have Questions, Call Me, 559-474-4614

David https://markethive.com/david-ogden

We used a cryptocurrency miner as a heater this winter and it really worked

We used a cryptocurrency miner
as a heater this winter
and it really worked


Surfing through the web back in October,

I stumbled upon an odd but genuinely fascinating contraption: a Russian cryptocurrency miner that leverages the heat it generates from stacking Ethereum to keep your room warm. Shortly after I wrote about this unusual device, Comino – the Russian-based startup behind this invention – reached out to us and kindly offered to ship one of its miners for us to test this winter. We gladly took them up on their offer, and a couple of weeks later, the Comino was already installed at our cozy office in Amsterdam.

After running the crypto-heater for a little over a month now, we are finally ready to share our experience with the device. But before we get to the actual performance, let’s get the technicalities out of the way. Determined to deliver the device in optimal condition, Comino co-founder Evgeny Vlasov flew in directly from Moscow to Amsterdam, along with his business partner Anatoliy Knyazev (not to be mistaken with the eponymous DC Comics villain KGBeast).  The duo swiftly set up the crypto-heater and proceeded to give us a run-down on the technology that powers the machine.

Vlasov and Knyazev first came with the idea for Comino after they spotted an opportunity to bridge the technological gap in the bludgeoning cryptocurrency market by bringing a mining solution that even crypto-rookies can put to use. As such, the Comino is among the first miners specifically aimed at regular consumers – and not strictly hardcore crypto-enthusiasts. “It is an overused statement these days, but we want to be the Apple of crypto-miners,” Knyazev told TNW. “We want to make a product that is easy for everyone to use. Ideally, you won’t even need to read through the documentation, you just plug it in and it starts working.”

Having said that, Comino, which runs a customized version of Ubuntu, can easily be modified for tasks other than mining. Indeed, Vlasov told us Comino often gets enqiuiries from researchers, involved with high-intensity computing tasks, who are interested in re-purposing the machine for other uses.The reason for that is not strictly the components housed inside its metallic case, but its efficient and sturdy build quality. Vlasov and Knyazev too are first to admit that the real value in Comino – as far as hardware goes at least – is in the proprietary components that connect all the GPUs packed inside the crypto-miner.

As Vlasov explains,

unlike home-made miners, which tend to be rather bulky in size and often make very loud noises, the Comino was designed to be much more discrete and accommodating. It was also equipped with proprietary water-cooling system that Vlasov and Knyazev claim will keep the machine alive for years – a lifespan much longer than that of most home-made mining rigs. Comino’s website claims a maximum noise level of around 30 decibels, and while I’m no noise expert, the review unit we tested was pretty silent – much quieter than an actual fan-heater.

In fact, the noise is so low that at one point Knyazev worryingly misidentified the sound from the little fish aquarium we have in our office with that of the Comino. Indeed, the crypto-heater is less noisy than an aquarium. Here are a couple videos that will give you a better idea about the cacophony home-built miners cause: In addition to its proprietary water-cooling system, the device also comes with a slew of custom-made components – like cables, connectors and risers – to ensure the longevity of the device.

The reason Comino opted to produce their own risers

was because industry alternatives couldn’t offer the same resistance to high-intensity signals and waves that mining rigs have to deal with. Vlasov estimates that the compendium of little touches like these ought to keep the miner up-and-running for at least five to 10 years. As far as the rest of the innards go, the Comino N1 (the model we had a chance to test) boasts eight ASUS P106-100 6G graphic cards mounted on an ASUS PRIME Z270-A Motherboard, as well as 3 NOCTUA NF-A14 PPC-2000 PWM fans, a customized Black Ice NEMESIS GTX420 radiator and 2 Chieftech PROTON BDF-750C 750W power supply units.

All of this oomph amounts to about 1kW of power consumption per hour. Make sure to check your local electricity rates to get an idea of how much that will add up to your energy bills. The contraption stands 63.5cm tall, with a length of 45.9cm and a width of17.5cm, which means you could easily fit it in an idle corner of your room and forget about it, while it does the mining for you. And this is precisely what we did. Once we installed the mining rig in our office, which practically included connecting the crypto-heater to the internet via the web-based dashboard system developed by Comino, it automatically created a wallet and began mining Ethereum. As easy as this.

Of course, if you already have a wallet, you still have the option to connect it to the dashboard. You can also connect any other mining rig to the Comino dashboard, in case you want to follow all of your mining efforts in one place. Among other things, the online dashboard shows a number of statistics the Comino developers had programmed to monitor, including the current and average hashrate at which the miner is solving cryptographic puzzles, the current and average temperature at which it operates, as well as the unpaid balance of Ethereum you’ve accumulated. It also shows stats for the temperature of each separate GPU.

Since installing the miner on November 16, it has so far transferred a total of little over 1.2 ETH to my designated wallet – this equals to roughly 1 ETH per month. At the time of writing, my mining returns amount to about $814, according to CoinGecko. The way the system is set-up, the miner will transfer the Ethereum to a wallet of your choice anytime it has mined at least 0.2 ETH. As you can observe in the screenshots below, the Comino N1 maintains an average hashrate of about 200 MH/s, and an average temperature of approximately 60C (±140F) degrees .

While some of this data is visible on the device’s built-in LCD indicator, chances are you will find yourself engaging with the online dashboard much more often than with the actual miner – and this is actually how Vlasov and Knyazev imagine things. Other than a one-off exception to reboot the miner, following a glitch in the LCD display (which had no effect on the actual mining), I hardly ever had to interact with the machine; and this is a good thing, especially for someone who wants to stack on crypto without having to worry about technical issues.

Throughout this one-month trial,

the only issue I experienced with the miner was that – for some reason – its ambient temperature sensor inaccurately picked up the temperature of the GPUs inside (which had just taken a break from mining); this prevented the device from booting up again, until it cooled down a little. But other than that, it ran as smooth as butter. After reporting this minor malfunction to Vlasov, he told us their team is looking into implementing a solution that will allow the machine to turn on, but will only let it mine once it has cooled down to a more suitable temperature.

At $5,000 a piece (currently discounted down to $4,500), the Comino miner is certainly not cheap, but if you’re looking for an easy way to get started with mining cryptocurrency, it definitely does the job. In all fairness, you can probably build a cheaper mining rig, but Vlasov and Knyazev are skeptical about the lasting endurance of recreational mining rigs. Of course, if neither of these options appeal to you, you can always fit your own crypto-miner in the trunk of your Tesla – like this guy set out to do.

And in case you were wondering about how reliable the Comino was as a heater : it certainly kept the temperature high enough to save some energy on heating bills, but not enough to make you turn on the air conditioner. Which is exactly what you want from a a machine that was built to bank on crypto.

Chuck Reynolds

Marketing Dept
Contributor

Please click either Link to learn more about Bitcoin.
Interested or have Questions, Call Me, 559-474-4614

David https://markethive.com/david-ogden

The Taxman Cometh: US, Russian Investors Face New Calls To Pay/more

The Taxman Cometh:
US, Russian
Investors Face New Calls To Pay

Bitcoin traders face new tax obligations

in the US and Russia as authorities keen to get a piece of the action begin ‘tweaking’ laws. As Fortune and others report today, a tax reform amendment Congress passed this week will oblige crypto-to-crypto handlers to pay tax on any gains.  The change in the status quo comes as a low-key change in legislation closes a loophole which previously allowed so-called “like kind exchanges” to occur tax-free.

‘Like kind’ exchanges allowed one cryptocurrency to be exchanged for another without triggering a taxable event, as long as fiat was not involved. This allowed capital gains to continue growing tax free. Now, however, that option will cease to exist in the US, applying only to real estate from 2018 onward. In Russia meanwhile, cryptocurrency sales for fiat are attracting the attention of tax authorities, which now require taxpayers to come clean about any profits. An anonymous holder told local media outlet Business FM about manual declaration of

crypto tax liabilities:

“I don’t think it’s the right approach. More likely lawmakers should create a mechanism through which further transactions can be followed either automatically or via banks.”

Artem Tolkachev, a lawyer who works on behalf of Deloitte, reiterated that the only “possible” way of taxing cryptocurrency transactions was to apply Russia’s blanket 13% rate at the point of conversion to fiat. Fluctuating exchange rates and authorities’ bare-bones understanding of the technology added to the current stalemate in creating an alternative, he added.

 

Exclusive:
Telegram to Release Blockchain Platform, Native Cryptocurrency

The popular encrypted messaging app Telegram will launch

its own Blockchain platform and cryptocurrency, according to sources familiar with the matter. The new platform will be dubbed either “The Open Network” or “Telegram Open Network” (TON) and is supposed to be based on an improved version of Blockchain technology.

Initial reports of the new platform surfaced today from Anton Rozenberg, a former employee of Telegram’s publishing division Telegraph. Rozenberg posted on Facebook what he claims is an advertorial video for the new platform (he did not disclose the source of the video). He also pointed out that TON would aid those under oppressive governments, since they would be able to transfer money natively through the messaging app. This could serve to break the state’s control over citizens’ money, added Rozenberg.

Cointelegraph learned that the currency of TON will be called “Gram” and the platform will be natively integrated with many of the most popular messaging apps (it’s not yet certain which ones). The platform will utilize light wallets, making it unnecessary for users to download a large and unwieldy Blockchain. The TON platform also won’t have to go through a multi-year bootstrap period like most new platforms, since the Telegram app already boasts 180 mln users, according to Bloomberg. Telegram is already immensely popular with the Blockchain community, as cofounder

Pavel Durov proclaimed:

“Like right now, the entire Blockchain and cryptocurrency community just switched to Telegram.”

Cointelegraph has reached out to Durov, but has not yet received a reply. While still not officially confirmed, the creation of TON is compatible with an earlier article from Bloomberg,

which said:

“[Durov] sees Telegram as a charity that he’ll start to monetize early next year, but only enough to fund expansion.”

The Mark Zuckerberg of Russia

The enigmatic Pavel Durov teamed up with his brother to launch Telegram in 2013. The app boasts end-to-end encryption, making it extremely useful for dissidents and ordinary citizens living under oppressive regimes. In fact, according to Bloomberg, Telegram accounts for 40% of Iran’s internet traffic. The Iranian government is so aggrieved by the app’s privacy features that they have charged Durov, in absentia, of terrorism.

Durov isn’t terribly bothered; he’s used to standing up to national governments. He and his brother cofounded Russia’s largest social network, VK, building a company worth over $3 bln. VK was in fact quite similar to Facebook, but whereas Zuckerberg was able to maintain control (and a massive ownership stake), Durov was not.

When he refused to hand over personal user information to Russian authorities, he was forced to sell his stake in the company to one of Putin’s allies. Thus, while Zuckerberg had the option of an IPO, Durov is using an ICO to monetize his creation. After being forced out of VK, Durov left Russia for good, taking with him an estimated $300 mln and 2,000 Bitcoins. He took his substantial wealth with him to St. Kitts and Nevis, investing enough in the Caribbean nation to become a citizen. However, he spends most of his time in Dubai. Durov insists Telegram is not for sale at any price, because his users’ privacy is too valuable

to risk:

“Even for $20 billion, it’s not for sale. That’s a lifetime guarantee.”

An anonymous holder told local media outlet Business FM about manual declaration of crypto

tax liabilities:

“I don’t think it’s the right approach. More likely lawmakers should create a mechanism through which further transactions can be followed either automatically or via banks.”

Artem Tolkachev, a lawyer who works on behalf of Deloitte, reiterated that the only “possible” way of taxing cryptocurrency transactions was to apply Russia’s blanket 13% rate at the point of conversion to fiat. Fluctuating exchange rates and authorities’ bare-bones understanding of the technology added to the current stalemate in creating an alternative, he added.

Chuck Reynolds


Marketing Dept
Contributor

Please click either Link to learn more about Bitcoin.
Interested or have Questions, Call Me, 559-474-4614

David https://markethive.com/david-ogden

Blockchain It! Companies Rename Themselves To Bump Up Share Price/more

Blockchain It!
Companies Rename Themselves To Bump Up Share Price

The craze continues as companies begin changing their name

to include the word “Blockchain” and watch their share price soar. As The Verge reports, a spate of renaming shenanigans has seen Long Island Drinks Corp become Long Blockchain, immediately causing its stock to surge 200%. Likewise, a California-based vaping startup Vapetek changed its name to the unlikely Nodechain, while offering only vague promises about its Blockchain-inclusive future plans.

The practice continues what has become a curious phenomenon. In October, Cointelegraph reported on how a veteran yet little-known UK telecommunications company reinvented itself as a notionally Blockchain-centric outfit, adding the term to its company name. Its stock swiftly took off, jumping from £15 ($20) to a high of £84 ($112) in days.

The trend continues in Asia, with Hong Kong tea manufacturer Ping Shan Tea Group now becoming the tenuously tea-linked Blockchain Group Co. How Blockchain impacts the company’s operations or product remains uncertain, with its website making no mention of the technology other than in its new name. In Russia, cryptocurrency-related consumer marketing has taken a more mainstream turn, with Cointelegraph noting how a sushi restaurant chain rolled out an ICO-themed drinks menu, even including a reference to China’s ban. Burger King outlets in the country have also experimented with their own token, which the fast food giant dubbed ‘Whoppercoin.’

ICO to Build Next Generation AI Raises $36 Million in 60 Seconds

SingularityNET raised $36 mln in one minute,

completely selling out of its native AGI tokens. While this is an enormous amount of money to raise in an incredibly short period of time, it’s somewhat unsurprising considering demand. The company asserts that the issue was massively oversubscribed, with 20,000 people registered to participate, seeking to buy $361 mln worth of tokens. The company reduced the number to a more manageable level, according to its press release,

by:

“[Screening] all applicants using layers of algorithms, in addition to manual review, to comply with global KYC/AML regulations. This reduced the pool of contributors to 5,000, but also set a new standard for fundraising via Blockchain with respect to global legislation.”

Artificial general intelligence

SingularityNET aims to create a decentralized marketplace of AIs, where each AI can interact with one another (and pay one another) as needed to solve customers’ problems.

Founder Ben Goertzel gave an example:

“If you need a document summarized, as a user you can put a request into SingularityNet… You may get bids from twenty different document summary nodes…and you may choose one with the right balance of reputation and price.

But now that document summary node if it hits something in the document it can’t deal with, it can outsource that…if the document summary node that you’re paying…hits an embedded video it can outsource that to a video summarizing node and it can then pay it some fraction of the money it was paid. Or, if it sees a quote in Russian…it can outsource that …to a Russian to English translation node that can do that translation, then send it back to the document summary node.”

Popular field

Artificial intelligence and machine learning are hot trends in computing these days, but are largely controlled by massive corporations. These corporate titans develop their own proprietary systems and software and keep it in-house. SingularityNET intends to decentralize this heavily centralized field, allowing developers of AI tools to monetize them and non-corporate users to benefit from them.

As with any new venture, it remains to be seen whether this is even possible, or whether behemoths like Google will forever dominate the field of AI. One thing is certain – there is plenty of interest in decentralized AI systems. SingularityNET’s token sale could not make that any more clear. Just like the Nicholas Cage movie, these tokens were “gone in sixty seconds.”

Chuck Reynolds

Marketing Dept
Contributor

Please click either Link to learn more about Bitcoin.
Interested or have Questions, Call Me, 559-474-4614

David https://markethive.com/david-ogden

dYdX is a decentralized protocol for cryptocurrency derivatives

dYdX is a decentralized protocol for cryptocurrency derivatives

While some financial derivatives like futures trading

are slowly coming to Bitcoin, we’re still a long time away from these financial products being widely available for the entire cryptocurrency asset class. So dydX is building a decentralized protocol for derivatives, built on the Ethereum blockchain and the 0x protocol. The protocol lets you take out peer-to-peer short sells, long positions and options on any ERC20 token. It also provides the ability for traders to make fully-collateralized loans, which are used to to fund short sellers.

As a refresher, a decentralized protocol means that no single entity controls the process. No one can cancel your order, steal your funds or rip you off as long as the smart contracts powering the protocol are securely written and properly vetted. There are already a few examples of decentralized exchanges like EtherDelta, where you can exchanges crypto assets peer-to-peer. But most of these platforms limit you to exchanging one token for another, which is why dYdX’s focus on more complicated financial positions is unique.

When the platform launches in the spring there will be a decentralized open protocol that anyone can access, as well as a centralized relay built by dYdX that acts as a user interface to the protocol. The UI will look like a traditional trading site but will never take control of user funds, and dYdX will charge a small fee on all trades that use their interface. Of course anyone else can also build private or public interfaces to interact with the dYdX protocol for free. Order books will be off chain with on-chain settlements, which allow for faster trading, especially during times of network congestion.

At first you’ll only be able to trade with ERC20 tokens (and Ethereum itself) but technologies like cross-chain atomic swaps may enable trading of non-Ethereum-based tokens in the future like Bitcoin. dYdX was founded by Antonio Juliano, a former software engineer at Coinbase  and Uber. The startup has raised a seed round led by Andreessen Horowitz and Polychain Capital, with participation from Coinbase founders Fred Ehrsam and Brian Armstrong, Elad Gil and others.

Juliano plans on using the funding to build out a team of engineers (it’s currently a one-man shop) and undergo extensive third-party security audits on the protocol before launching. As explained earlier the only thing that could bring down a decentralized protocol is flaws in its code, making crypto security audits very important for any serious decentralized protocol. Both the decentralized protocol and centralized relay are expected to launch around April, with the independent security audits  being the biggest roadblock before launch.

Chuck Reynolds


Marketing Dept
Contributor
Please click either Link to Learn more about -Bitcoin.
Interested or have Questions. Call me 559-474-4614

David https://markethive.com/david-ogden

Blockchain: Shifting From Internet of Information to Internet of Value

Blockchain:
Shifting From Internet of Information
to Internet of Value

There is a growing trend of Blockchain implementation

in the social media industry. This development is changing how the public approaches an ecosystem which has before now been at the mercy of a few individuals in terms of security, commerce, functionality and general control. The significance of social media to everyday life keeps growing with each passing day. In the areas of education, politics, e-commerce and even relationships, the social environment built upon cyberspace is continually proving its relevance as a tool for effective communication between individuals and groups across different parts of the world.

Blockchain can overhaul social media

The emergence of Blockchain technology brings a revolution to this industry which is already visible in the areas of improved reliability and earning opportunities.

Derin Cag, founder of Richtopia says:

“With the rise of Blockchain technology, socio-economic transactions are improving and becoming more democratic as we shift from the Internet of information to the Internet of value.”

According to Cag, there are numerous benefits of having Blockchain technology frameworks within social media platforms.

  • First, it could help tackle fake news through establishing a rewards-based 'credit ratings system' for journalists and bloggers, which then could get embedded to all websites.
  • Second, it could improve user data privacy by providing people an option to opt-in for sharing programmes where they automatically get paid in cryptocurrencies when their data gets sold to third parties.
  • Third, it could improve automation through the use of smart contracts where Blockchains could interact with multiple platforms simultaneously on a user’s behalf. For example Facebook could speak with Twitter, could speak with Instagram, could speak with Reddit and so forth on a much deeper level than available at the time of writing.
  • Fourth, if the social media platform itself is based across distributed ledgers, this could help improve security because for example Bitcoin is one of the only valuable things online which has never been hacked itself.

One major problem that exists within the social media ecosystem and cyberspace, in general, is the significant lack of privacy and indiscriminate sharing of personal data across major social media platforms.

Be careful what you sign

It may not be particularly accurate to assume that these platforms make use of the data of individuals without their permission because almost every single one of these platforms have a ‘Terms and Conditions’ documents which most users agree to without even reading a single line of the usually extremely long document.

Most of the time, the ambiguous statements within these documents empowers the platform owners and administrators to exercise the level of control that we see today. However, this extensive control by the centralized platform owners does not only enable the indiscriminate exposure of users, but it also shuts them out from any possible benefits that they could achieve by the use of their personal data and identity. These are some of the problems that are already being addressed by Blockchain implementation in social media.

The five-year forecast

Abhishek Bhandari, co-founder and VP of Bloomatch tells Cointelegraph that Blockchain is revolutionizing each and every industry at the moment. He notes that the major attraction of various sectors towards Blockchain is the basics of Blockchain for maintaining data on multiple and

decentralized nodes.

“I assume in next five years most of the platforms in digital space would use Blockchain.”

Bhandari affirms that Social Media has become a very important and indispensable part of human existence and Blockchain technology would give a sense of protection and satisfaction to all users. He explains that current social media platforms have many drawbacks in terms of data security and cyber crimes, problems which he is certain that Blockchain technology will eventually address effectively

All about attention

Dor Konforty, CEO of Synereo elaborates that the primary purpose of the marketing, content, and features of Facebook, YouTube and most other modern media platforms is to increase the number of hours each user engages with the platform, to the point where it may disrupt their lives, so that they can capture and sell more of their attention as well as information about their behavior. However, Konforty explains that without a centralized entity profiting from this, and with value generated flowing directly to users through intermediary-less interactions, new platforms will adapt their business models to rely on added-on services rather than on practices which have already been proven to be harmful to the health of their userbases.

Konforty also notes the complexity of monetization on social media:

“Monetization is another deep trouble; creators of original content are in a position where the method they chose for publishing their creations defines their method of monetization, if existent. While YouTube shares some of their proceeds with creators, Facebook, Twitter and the like don't do even that.”

Ultimately, without intermediaries shaping the discourse and being in full control of the available content, all geared towards their bottom lines, the space of possible social and economic interactions will expand greatly, benefiting all involved. Likewise, without huge datastores immediately available to centralized entities, dystopian scenarios such as allocating scores to citizens based on their online activity and adherence to the mandated way of living may be averted. This is the promise of the Blockchain.

Chuck Reynolds


Marketing Dept
Contributor
Please click either Link to Learn more about -Bitcoin.
Interested or have Questions. Call me 559-474-4614

David https://markethive.com/david-ogden