Mastodon

First Cryptocurrency Fundraising for a European Bank

London, February, 18, 2018 – European Crypto Bank is building the first bank and trading platform to secure investments on Bitcoin and cryptocurrencies market. New generation bank (Fintech): Cryptocurrencies trading platform, financial analysis on cryptos, tokens and tax assistance.         French, Italian and English specialists have formed a multi-disciplinary team to create an European Private bank. Private bankers, tax specialists, computer scientists, mathematicians, and Blockchain engineers have partnered to facilitate access to the cryptocurrencies market to as many people as possible by personalized advice and approaches (wealth management and wealth optimization). Rising in the cryptocurrencies prices as well

London, February, 18, 2018 – European Crypto Bank is building the first bank and trading platform to secure investments on Bitcoin and cryptocurrencies market.

New generation bank (Fintech): Cryptocurrencies trading platform, financial analysis on cryptos, tokens and tax assistance.        

French, Italian and English specialists have formed a multi-disciplinary team to create an European Private bank. Private bankers, tax specialists, computer scientists, mathematicians, and Blockchain engineers have partnered to facilitate access to the cryptocurrencies market to as many people as possible by personalized advice and approaches (wealth management and wealth optimization).

Rising in the cryptocurrencies prices as well as corporate financing in the context of ICO (Initial Coin offering), through tokens, benefit mainly the countries of eastern Europe, Russia, Asian countries and Australia.

European investors cannot do without the opportunities of this fabulous future market despite the uncertain regulatory framework and they must be able to benefit from this market simply and by controlling the risks.

In the light of a lack of regulations of the cryptocurrencies market, European Crypto Bank offers customer support solutions to:

– Protect them from tax risks: reports and advice adapted to the regulatory requirements of each European country: France, Italy, England, Germany.

A fine analysis of market values: Cryptocurrencies and tokens are experiencing unprecedented volatility and it is necessary to understand the issues, strengths and weaknesses of these instruments in order to optimise its investments.

Artificial Intelligence with the development of Robot Advisors and automation of the processes for availability and traceability of 24/24 and 7/7days services.

– An ecosystem generated by a specific token (ECB token S) allowing access to personalized reports, financial analysis and advice from European tax experts in cryptocurrencies.

European Crypto Bank responds to investors’ expectations by providing secure, flexible and scalable banking and trading services.

European Crypto Bank is planning a banking licence in France, Italy and Germany at Horizon 2022.

Contact :

European Crypto Bank

[email protected]

Site ICO: https://europeancryptobank.io

Site Corporate: http://europeancryptobank.com

Blog: https://medium.com/european-crypto-bank

VIDEO :https://youtu.be/81GAan56Peg
Telegram: https://t.me/europeancryptobank
Telegram: https://www.facebook.com/EuropeanCryptoBank

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.

Win bitcoin for buying juice? Only in Australia – CNET


CNET

Win bitcoin for buying juice? Only in Australia
CNET
You thought you had to pay real money for bitcoin? Well you could do that, or you could enter Boost Juice’s competition and win a Bitcoin instead. If you live in Australia, that is. The Australian company on Monday announced its latest publicity stuff

and more »


CNET

Win bitcoin for buying juice? Only in Australia
CNET
You thought you had to pay real money for bitcoin? Well you could do that, or you could enter Boost Juice's competition and win a Bitcoin instead. If you live in Australia, that is. The Australian company on Monday announced its latest publicity stuff ...

and more »

Petro: Risky Gamble or Golden Opportunity?

Venezuela’s “Petro” cryptocurrency will attract investments from Turkey, Qatar, the U.S., and Europe, the country’s cryptocurrency regulator, Carlos Vargas, told reporters on Friday. The Petro will be offered for sale this Tuesday, February 20th, and comes as Venezuela is suffering from quadruple-digit inflation and chronic shortages of food and medicine. Venezuelan President Nicolas Maduro announced the launch … Continue reading Petro: Risky Gamble or Golden Opportunity?

The post Petro: Risky Gamble or Golden Opportunity? appeared first on NewsBTC.

Venezuela’s “Petro” cryptocurrency will attract investments from Turkey, Qatar, the U.S., and Europe, the country’s cryptocurrency regulator, Carlos Vargas, told reporters on Friday. The Petro will be offered for sale this Tuesday, February 20th, and comes as Venezuela is suffering from quadruple-digit inflation and chronic shortages of food and medicine.

Venezuelan President Nicolas Maduro announced the launch of the Petro in December. Maduro has repeatedly said that his country is the victim of an “economic war” — prompted by financial sanctions imposed by the United States — and that the sale of the new digital currency will help the South American country circumvent this problem.

“On Tuesday, there will be quite a few announcements about the start of the process,” Vargas said on the sidelines of a political meeting in Caracas. “And there will surely be a lot of investors from Qatar, Turkey, and other parts of the Middle East, though Europeans and Americans will also participate.”

Skeptics say that concerns about Venezuela’s financial solvency will likely limit investor interes, and the U.S. Treasury Department has warned the Petro may violate sanctions against the OPEC (Organization of Petroleum Exporting Countries) nation. These sanctions — levied last year by Washington — block U.S. banks and investors from acquiring newly issued Venezuelan debt, effectively preventing the country from borrowing abroad to bring in new hard currency or refinance existing debt.

Venezuela’s Superintendence of Cryptocurrencies and Related Activities as well as the Blockchain Observatory, will regulate how the Petro, which is “backed” by 5 billion barrels of oil reserves, functions. “This is going to allow us to move forward to new ways of international financing for the country’s economic and social development,” Maduro said.

Since its inception, the Petro has been controversial. Even Venezuelan lawmaker Jorge Millan had strong words against about the coin: “This is not a cryptocurrency, this is a forward sale of Venezuelan oil,” adding, “It is tailor-made for corruption.”

But that didn’t stop the President from moving forward. In January, Maduro announced that over 800,000 Venezuelans had already been recruited to mine the cryptocurrency. “We are going to call them a special cryptocurrency team… They will set up cryptocurrency mining farms in all states and municipalities of the country,” he said.

The president even approached OPEC with his idea: “I have explained to Mohammed Barkindo [OPEC Secretary General] the goodness of the Petro. The cryptocurrency is the world of the future. I am very excited as well as the people of Venezuela,” said Maduro. It’s not surprising he would look for the organization’s support: OPEC is comprised of some of the world’s top oil producers and has enormous sway on the global oil market.

The post Petro: Risky Gamble or Golden Opportunity? appeared first on NewsBTC.

Bitcoin Divorce Presents New Challenge for Rabbinical Court in Israel – Bitcoin News (press release)

Bitcoin News (press release)Bitcoin Divorce Presents New Challenge for Rabbinical Court in IsraelBitcoin News (press release)A rabbinical court in Israel is now facing a bitcoin-related quandary for what appears to be the first time ever. The religious…


Bitcoin News (press release)

Bitcoin Divorce Presents New Challenge for Rabbinical Court in Israel
Bitcoin News (press release)
A rabbinical court in Israel is now facing a bitcoin-related quandary for what appears to be the first time ever. The religious tribunal is asked to rule on the cryptocurrency in a matter of a specific divorce. An Israeli couple, identified as a top ...

Cryptocurrencies Surging in Africa as Alternatives to Traditional Banking

Africa is rarely considered to be one of the larger markets for cryptocurrencies, but with the right factors in place — such as an increasingly tech-savvy populous and inflation triggered by central banks — that might be set to change. Case in point: The surge in popularity of cryptocurrencies has contributed to the opening of … Continue reading Cryptocurrencies Surging in Africa as Alternatives to Traditional Banking

The post Cryptocurrencies Surging in Africa as Alternatives to Traditional Banking appeared first on NewsBTC.

Africa is rarely considered to be one of the larger markets for cryptocurrencies, but with the right factors in place — such as an increasingly tech-savvy populous and inflation triggered by central banks — that might be set to change.

Case in point: The surge in popularity of cryptocurrencies has contributed to the opening of at least 15 new trading venues in South Africa within the past year alone. And peer-to-peer marketplaces also recorded a surge in trading volumes as Bitcoin’s price reached historic highs at the end of last year.

Global wallet and exchange Luno reported 2000 BTC worth of transactions in November 2017, when the coin’s price was hovering in the $10,000 range, and approximately 37% of those transactions occurred in South Africa. Luno began operations in 2013 and boasts 1.5 million users spread across 40 countries — including Indonesia, Malaysia, Nigeria, South Africa, and the U.K. The company has big plans: By 2025, it plans to reach 1 billion customers. To put that in context, North America’s largest cryptocurrency exchange, Coinbase, had 11.7 million users last year. 

The South African government is also making moves. The country’s central bank has launched a program that will trial JPMorgan’s Quorum blockchain in interbank clearing and settlement. According to an official statement dated February 13th, the South African Reserve Bank (SARB) revealed it has established a fintech program that will prioritize, among other things, a project dubbed Khokha to explore a proof-of-concept (PoC) using the tech.

Why is Africa Becoming Such a Big Market?

First, conditions in the continent are conducive to the adoption of cryptocurrencies — with many countries in the continent such as Zimbabwe, South Sudan, and Nigeria, suffering from rampant inflation. What makes cryptocurrencies so appealing is their decentralized method of operation, permitting them to become alternatives to fiat currencies that have been de-railed thanks to disastrous central banking policies.

Second, the increasing use of mobiles and other computing technology within the continent has helped its population become comfortable with cryptocurrency technology. New businesses that use blockchain are emerging all the time: Kenya-based BitPesa, for example, is a payment platform and money transfer service that works with 60 banks around Africa and has seven mobile wallets on its platform.

Third, the threat of government regulation, which has roiled cryptocurrency markets recently, is (presently) fairly low in Africa. While governments and agencies have warned about the dangers of investing in cryptocurrencies, regulators in African countries have taken a hands-off approach to trading at exchanges.  

But Africa is susceptible to the same pressures as cryptocurrency markets in other parts of the globe: Cryptocurrency traders in Africa were paying a premium of as much as 40% in 2017. According to reports, the premium occurred due to a shortage of liquidity, meaning sellers were able to command unrealistically high prices due to high demand from buyers.

Outside the continent, other countries are also looking to cryptocurrencies to help solve their financial woes. Earlier this year Venezuela, which has been crushed by quadruple-digit inflation, announced plans to develop its own token, the Petro, in attempts to turn things around.

The post Cryptocurrencies Surging in Africa as Alternatives to Traditional Banking appeared first on NewsBTC.

3 Ways Decentralized Gaming Platforms Will Disrupt the Gaming Industry

Themerkle Xsolla WAX Video GamingAs the gaming industry starts to utilize blockchain technology to drive digital innovation, there has been an uptick in the creation of “decentralized gaming platforms.” Decentralized gaming platforms serve as a one stop shop for gamers and developers to create and play games, sell/purchase virtual goods, and make use of cryptocurrencies. These platforms can also help companies launch initial coin offerings (ICOs). The benefits offered by decentralized gaming platforms are highly innovative, as these models apply blockchain technology to achieve a number of advanced features. Secure data sharing, transparent and instant transactions, and peer-to-peer interactions are all part of the

Themerkle Xsolla WAX Video Gaming

As the gaming industry starts to utilize blockchain technology to drive digital innovation, there has been an uptick in the creation of “decentralized gaming platforms.” Decentralized gaming platforms serve as a one stop shop for gamers and developers to create and play games, sell/purchase virtual goods, and make use of cryptocurrencies. These platforms can also help companies launch initial coin offerings (ICOs).

The benefits offered by decentralized gaming platforms are highly innovative, as these models apply blockchain technology to achieve a number of advanced features. Secure data sharing, transparent and instant transactions, and peer-to-peer interactions are all part of the decentralized gaming ecosystem.

To put this into perspective, Game Chain System (GCS) is a China-based startup that owns a series of blockchain software solutions. Using this technology, GCS has created a decentralized gaming platform that acts as a marketplace to help developers and gamers connect.

Based on the capabilities offered by GCS, here are 3 general ways decentralized models will disrupt the gaming industry:

1. Peer-to-Peer Transactions

One of the main functions decentralized gaming platforms provide is the ability for developers to create games and sell them directly to gamers in a peer-to-peer manner, rather than having to go through a third-party payment system.

For example, all transactions on the GCS platform are made via smart contracts, ensuring instant, secure and direct payments. Transactions made with smart contracts are transparent and easily traceable, which helps solve the issue of fraud in the gaming industry.

Transactions are also quickly processed, as GCS runs on a dedicated game-optimized blockchain capable of accommodating thousands of transactions per second. In turn, this helps drive revenue for games featured on the GCS network.

2. Secure Data Sharing

Data sharing capabilities are another primary benefit of decentralized gaming platforms. Blockchain technology can enhance data sharing security and increase transparency, making these platforms more secure and efficient.

“A decentralized strategy not only allows for accountability on our exchange, but it also plays an important role for protecting our users’ data (scores, leaderboards, et cetera). Data cannot be manipulated on the GCS platform and the ecosystem exists to support both the gamers and developers,” Game Chain System’s CEO, Lianwei Ling, said.

Moreover, just last week, the Gaming Standards Association and the Gaming Standards Association of Europe announced the creation of a technical committee dedicated to creating standards for the use of blockchain distributed ledgers in the gaming industry. It was noted in an article on SiliconANGLE that the GSA’s president, Peter DeRaedt, recognizes that blockchain technology can specifically revolutionize data sharing for the gaming sector.

“Many industries are evaluating how the blockchain technology can enhance data sharing security and increase operational transparency,” GSA Europe Managing Director Mark Pace said. “GSA will launch this new committee and evaluate the creation of a gaming industry standard.”

3. Cryptocurrency Purchases and Initial Coin Offerings

It’s also worth noting that decentralized platforms can help developers launch their own tokens for game licenses and in-game digital assets. These tokens can then be used as a crowdfunding method for companies interested in launching an ICO. Game developers can create their own tokens using the GCS template, and players can then use these tokens to access video games on GCS.

Users can also win GCS’s tokens, which are known as “gamechain tokens” or GCS. These are ERC20 tokens that can be used by developers to build poker games, sandbox games, and much more. Gamechain tokens can also be utilized to access additional features and services, or to purchase virtual goods on the GCS platform. Additionally, gamers can purchase games on the GCS platform using gamechain tokens or other cryptocurrencies like Bitcoin and Ethereum.

The Future of Gaming

Game Chain System already has over 20 million users and expects to grow their company with the $35 million raised during their initial coin offering. And as more gamers and developers turn to decentralized gaming platforms, it has become clear that blockchain technology is having a major impact on the entire gaming industry.

Moreover, this represents an entirely new gaming ecosystem being built entirely on blockchain technology. The gaming industry can expect to see big changes made as more decentralized gaming platforms are utilized to provide secure, transparent and peer-to-peer gaming models.

Polish Central Bank Paid Youtuber to Attack Cryptocurrencies

Poland’s central bank — Narodowy Bank Polski (NFB)— has admitted to paying for social media campaigns that attacked the legitimacy of cryptocurrencies. The bank spent 91,000 zloty ($27,100) on the campaigns, with the money going to Google, Facebook, and a Polish Youtube partner network called Gamellon, Money.pl reports. The news comes after the site published a … Continue reading Polish Central Bank Paid Youtuber to Attack Cryptocurrencies

The post Polish Central Bank Paid Youtuber to Attack Cryptocurrencies appeared first on NewsBTC.

Poland’s central bank — Narodowy Bank Polski (NFB)— has admitted to paying for social media campaigns that attacked the legitimacy of cryptocurrencies. The bank spent 91,000 zloty ($27,100) on the campaigns, with the money going to Google, Facebook, and a Polish Youtube partner network called Gamellon, Money.pl reports. The news comes after the site published a letter from NFB in which it admits it paid for the anti-crypto campaign.

While it’s not unusual for governments or agencies to issue warnings or try to educate the public on what regulators may consider risky investments, Polish financial authorities have taken it a step further, spending taxpayers’ money on a smear campaign— trying to sway public opinion against crypto assets by paying social media influencers to attack them. The bank worked in cooperation with the country’s Financial Supervision Authority, Komisja Nadzoru Finansowego (KNF).

The money went to a Polish Youtube network that represents many popular, young content creators. A video with the title “I LOST ALL MONEY?!” — which depicted investments in cryptocurrencies in a negative light — appeared on December 8th on Marcin Dubiel’s channel, a Polish Youtube prankster who has over 900,000 subscribers.

Dubiel’s video, which has over 500,000 views, contains the hashtag #uważajnakryptowaluty. The tag is associated with the “Watch out for cryptocurrencies” website, which was set up by the central bank. The Planeta Faktów (Planet of Facts) Youtube channel was also paid to produce a video titled “10 differences between money and cryptocurrency that you need to know.”

Of note is that the video was not marked on Youtube as “including paid promotion,” and there is also no mention in its description that it is part of the campaign for which the NBP paid. Polish technology website Spider’s Web notes that this is against the law in Poland, where sponsored content has to be marked as such. Furthermore, judging by the quality of the content, its distribution channels, and its creators, the smear campaign appears to target a younger generation.

This type of attack, one that utilizes social media, is a fast-growing method for influencing public opinion. Over the past few days,  the U.S. Justice Department has charged 13 Russians and three companies in an indictment that unveiled a sophisticated network designed to subvert the 2016 election and to support the Trump campaign. It stretched from offices in St. Petersburg, to the social media feeds of Americans, and, ultimately, into the streets of election-influencing battleground states. The Polish Central Bank seems to be taking a similar approach, but this time to influence the public’s opinion on cryptocurrencies.

After questions were raised, NBP, in a letter dated February 9th, admitted that it “carried out a campaign on the issue of virtual currencies in social media.” As mentioned above, the campaign cost about $27,000 in taxpayers’ money.

Poland’s central bank is one of many across the globe that has issued warnings against cryptocurrencies and associated technology. The Monetary Authority of Singapore has urged citizens to “act with extreme caution,” while South Korea’s Financial Supervisory Service (FSS) has also warned people about investing in the virtual coins.

The post Polish Central Bank Paid Youtuber to Attack Cryptocurrencies appeared first on NewsBTC.

A Beginner’s Guide to Counterparty

TheMerkle Lightning BitcoinWhile many cryptocurrencies exist as competitors to or as evolutions of the Bitcoin protocol, there are other initiatives that instead seek to cooperate and bolster the pioneer blockchain. Perhaps the oldest and most profound of these projects is Counterparty, an asset layer created directly on the Bitcoin blockchain. What is Counterparty? Counterparty (XCP) is a peer-to-peer financial system built directly upon Bitcoin’s blockchain protocol. The coin positions itself as an asset layer on top of Bitcoin and a system that allows for the creation, transfer, and communication of tokens, artwork, and digital assets. Additionally, XCP features its own decentralized exchange for safely

TheMerkle Lightning Bitcoin

While many cryptocurrencies exist as competitors to or as evolutions of the Bitcoin protocol, there are other initiatives that instead seek to cooperate and bolster the pioneer blockchain. Perhaps the oldest and most profound of these projects is Counterparty, an asset layer created directly on the Bitcoin blockchain.

What is Counterparty?

Counterparty (XCP) is a peer-to-peer financial system built directly upon Bitcoin’s blockchain protocol. The coin positions itself as an asset layer on top of Bitcoin and a system that allows for the creation, transfer, and communication of tokens, artwork, and digital assets. Additionally, XCP features its own decentralized exchange for safely and trustlessly exchanging said tokens.

The distribution of Counterparty is unique. Just over 2.6 million XCP were distributed following a Proof-of-Burn event, when BTC addresses received an amount of XCP proportional to the amount of BTC sent to the burn address. XCP was distributed in January of 2014 following the burn of more than 2,000 BTC.

Token Creation

Creating a Counterparty token offers similar functionalities to Ethereum’s token function, and is very simple to do with XCP. In the native Counterparty wallet, there is a button to create a custom asset. From there, users specify the divisibility of the token, the supply, and the name. All that is then needed is for the creation to be broadcast to the network, and depending on the type of token it is, a fee of up to 0.5 XCP.

While XCP tokens appear simple, the ability to tokenize and publish information on top of the Bitcoin blockchain has massive implications. There are dozens of projects that have been using the XCP protocol for years. These projects range from online games (RBITS, BCY, DTB) to verified ownership of digital artwork (PEPECASH), to domain registry (CoinDaddy), and more. The Stanford distributed computing project even rewards donors via a Counterparty token, FoldingCoin (FLDC).

History

Counterparty launched in January 2014 as a revolutionary cryptocurrency. The Proof-of-Burn distribution approach represented a seamless method of fairly distributing the coin, and the project provided new technology through the utilization of blockchain-based transactions for the transfer and storage of information. XCP offered tokenization prior to Ethereum or any other cryptocurrency, and the symbiotic nature of the coin with Bitcoin proved that the power of the network expanded far beyond digital, decentralized value transfer.

Due to the principles and potential of the coin, Counterparty saw significant valuations relative to the overall cryptocurrency market in the months following its launch. Throughout the majority of 2014, XCP maintained a position as one of the top 10 cryptocurrencies. Its market cap reached a local high of US$25 million on November 12, 2014, the fifth highest market cap behind Bitcoin, Ripple, Litecoin, and BitShares.

However, largely due to the nature of the Counterparty team as a purely donation-based group, development of XCP progressed at a relatively slow pace in the following years. Coupled with the emergence of new platforms such as Ethereum, XCP has gradually fallen relative to other cryptocurrencies in the past three years.

Fortunately, with the explosion of cryptocurrencies, the Counterparty Foundation has seen more donations from the now-wealthier community to fund initiatives and improvements in the past several months. The BTC value of the coin has more than tripled from the October 2017 low of .0012 BTC, and existing communities behind Counterparty are continuing to grow.

Price Analysis

The price of Counterparty is currently around US$36, or roughly .0033 BTC. Its market cap is just under US$95 million, ranking at #165. Up until very recently, the value of XCP had slowly bled, falling more than 90% against Bitcoin from the 2014 high to recent lows. However, XCP still represents the most equipped and widely-used Bitcoin asset layer, and growth since the start of the year suggests more and more investors are becoming aware of the capabilities of this coin.

For Bitcoin bulls, it may appear insulting that over 160 coins are valued higher than the leading Bitcoin-symbiotic currency, and sustained growth for XCP is nothing short of inevitable. As XCP has a history and proven track record as a widely-used, secure, and working platform with a lot of utility, supporters of the coin agree that the true value of the coin is much greater in comparison to the many, often higher-valued alternatives to XCP.

The Future of XCP

Much of Counterparty’s further development is dependent upon improvements to the Bitcoin protocol itself. Counterparty’s developers were efficient in implementing SegWit functionalities on XCP after Bitcoin’s implementation of the feature. The biggest development in the near future will be the full release of Lightning Network, which will allow instantaneous and near-free BTC transactions. Soon after Lightning Network is adopted in large numbers by the Bitcoin network, Counterparty will follow suit.

When this takes place, activity around XCP should explode. Currently, many communities relevant to XCP have been less interactive with the platform due to significant Bitcoin fees. The Pepecash community, for example, is seeing less and less exchanges occur on the Counterparty Decentralized Exchange for this reason. When Lightning’s integration is live, this community and many others will be able to exchange and share in a capacity that has never been seen before. From a broader perspective, such an addition would expand the scope and potential of Counterparty tools exponentially.

Conclusion

Despite over a dozen active communities, services, and projects operating via Counterparty, this project has remained under the radar for quite some time. Recent price appreciation suggests that more speculators are beginning to buy positions in preparation for the bright future ahead and the upcoming Lightning Network integration. It’s difficult to justify a CoinMarketCap rank of 165 for a coin that empowers Bitcoin in such a meaningful way, and the broad and diverse communities that support the project suggest there is a real service with meaningful value behind Counterparty.

Whether in 2018 or 2020, Counterparty will successfully incorporate Lightning Network. Once that happens, it is entirely possible that Counterparty may return to its early position as one of the highest-valued coins, and could potentially reclaim its position as a top 10 market cap coin.

The 2018 Year of Cryptocurrency Challenge – Week 7

dogecoin tip botAt the beginning of 2018, I wrote an article outlining a New Year’s resolution that I thought could help boost cryptocurrency adoption and awareness in 2018, as long as enough people were doing it. Last week was the sixth installment of my year of cryptocurrency challenge. With the crypto markets recovering slightly and the industry’s fair share of drama, I was able to have some pretty good conversations. TRY TO SPEAK TO AS MANY PEOPLE ABOUT CRYPTOCURRENCY AS YOU POSSIBLY CAN The cryptocurrency markets began recovering (though they’re still bearish) these past couple of weeks, and panic selling seemed to

dogecoin tip bot

At the beginning of 2018, I wrote an article outlining a New Year’s resolution that I thought could help boost cryptocurrency adoption and awareness in 2018, as long as enough people were doing it. Last week was the sixth installment of my year of cryptocurrency challenge. With the crypto markets recovering slightly and the industry’s fair share of drama, I was able to have some pretty good conversations.

TRY TO SPEAK TO AS MANY PEOPLE ABOUT CRYPTOCURRENCY AS YOU POSSIBLY CAN

The cryptocurrency markets began recovering (though they’re still bearish) these past couple of weeks, and panic selling seemed to slow down. However, in most of the interactions I had, I tried to steer the conversation away from price and toward technology and community. Here are some of the highlights.

  1. A friend of mine in the armed forces recently asked me about Bitcoin. A service buddy of his had told him to purchase a little bit of it, and he was impressed by the volatility. However, he wanted to know more about the technology that underpinned the coin itself. I was happy to help explain how mining and blocks worked to him. He picked it up right away, and after I explained what a consensus algo was (proof of work), he started asking all the right questions, like “Are there other consensus algos if it takes so much energy to mine a block on the Bitcoin network?” It was seriously the quickest I’ve ever seen anyone pick up this concept. Maybe he was trolling me and already knew, ah well.
  2. A friend from undergrad heard that I was involved in the cryptocurrency and blockchain space and reached out to me recently. He actually was the first person to introduce me to the concept in passing, but he wasn’t all too impressed in 2011 with the idea or community. However, our recent conversation revolved around cryptocurrencies and their role as the locus of distributed dingpolitik communities. It was fascinating to explore the topic of how communities have built themselves around digital material culture and economics while being (mostly) remote.

LEARN SOMETHING NEW ABOUT CRYPTO

I’ve never really cared who Satoshi Nakamoto was. I think that their exodus from the space was the best thing for it. Instead of actually having Satoshi tell us what (s)he would do, we’ve had to speculate. That speculation isn’t really productive or fruitful, so most of us have moved on from even trying. That is a good thing, as it means we get to define the space.

That said, I listened to a podcast recently on which the host and the guest did talk briefly about who they thought Satoshi was. They referenced a Gizmodo article that they had found convincing, and I read it as well. What was wild to me about this was that Dave Kleinman (Gizmodo’s alleged Satoshi) makes a lot of sense, particularly because of the Satoshi fortune having never been sold even when Bitcoin hit $20,000; Kleinman is dead. It will always remain a mystery, I think, and nothing more than a passing thought in my mind. 

BE GENEROUS – GIVE AND USE YOUR COINS

This week I was actually the recipient of some coins. I’m not sure if this qualifies as satisfying my end of the challenge (though I did tip some users on /r/dogecoin), but it does for my friend who is also participating in this challenge. She tipped me some Dogecoin for helping her figure out what was going on in a Slack workspace. I helped her troubleshoot it and she was generous enough to send me 50 Doge for my efforts.

Have you been participating in the challenge as well? How’s it going? Tell us in the comments or tweet at us.

What Is SophiaTX?

THeMerkle Enterprise Blockchain SophiaTXFinding the right use cases in the blockchain industry can prove to be a challenging venture. A lot of these efforts focus on financial solutions, even though distributed ledgers can make a big impact in virtually all other areas. SophiaTX aims to bridge the gap between blockchain and other business models. This new platform offers a simplified process for building enterprise applications. What is SophiaTX Exactly? On the surface, SophiaTX positions itself as a tailored blockchain platform for extending traditional enterprise applications. Whether it is ERP, CRM, or another internal process, offering a decentralized, collaborative, and robust technological upgrade can

THeMerkle Enterprise Blockchain SophiaTX

Finding the right use cases in the blockchain industry can prove to be a challenging venture. A lot of these efforts focus on financial solutions, even though distributed ledgers can make a big impact in virtually all other areas. SophiaTX aims to bridge the gap between blockchain and other business models. This new platform offers a simplified process for building enterprise applications.

What is SophiaTX Exactly?

On the surface, SophiaTX positions itself as a tailored blockchain platform for extending traditional enterprise applications. Whether it is ERP, CRM, or another internal process, offering a decentralized, collaborative, and robust technological upgrade can make a positive impact moving forward. The entire project is open source and has integrated APIs for SAP and most other common enterprise applications as of right now.

What Makes SophiaTX Tick?

The SophiaTX ecosystem has three major building blocks. First of all, this enterprise-oriented solution offers smart contract technology for companies to explore. Additionally, it provides microservices and a platform to disrupt whichever industry one is active in. The main selling point will always be the concept of sharing information across the entire value chain provided by this blockchain ecosystem.

Secondly, SophiaTX prides itself on being flexible, thanks to its common building blocks, IoT integration, and standardized APIs. Moreover, the network should be capable of handling up to 2,000 transactions per second. Whether that will be sufficient or not for most enterprises remains to be determined at this point. It’s also worth mentioning the platform is system-agnostic, which will undoubtedly win some companies over.

Last but not least, this blockchain ecosystem needs to be secure first and foremost. SophiaTX offers standard blockchain features, such as immutability, traceability, and business compliance. There is also a mining aspect suited for specific business models, which will be interesting to keep an eye on. It is evident there is a lot more to this project than most people would assume, but competition can only be a good thing in this industry.

The SPHTX Token

There is no proper blockchain-oriented project without its own native token as of right now. SophiaTX issued 500 million tokens during its ICO. With the unsold tokens having been destroyed, 350 million remain, of which 202.5 million are in circulation. The developers are focusing on getting this token listed on more exchanges as we speak. For now, there are no notable use cases for SPHTX just yet, but since the project is still in development, that situation will change in the near future.

What is Next for SophiaTX?

Building this enterprise-grade blockchain platform will take a lot of time and research. The team is currently in the process of issuing the tokens, associated wallet, and marketplace. Additionally, file storage features will be integrated, with IoT integration to follow in Q4 of this year. SAP connectivity for this new platform is also under development and should be completed soon. It will be an interesting year for SophiaTX, to say the very least.

Bitcoin Thieves Threaten Real Violence for Virtual Currencies – New York Times

New York TimesBitcoin Thieves Threaten Real Violence for Virtual CurrenciesNew York TimesIn the beach resort of Phuket, Thailand, last month, the assailants pushed their victim, a young Russian man, into his apartment and kept him there, blindfolded, u…


New York Times

Bitcoin Thieves Threaten Real Violence for Virtual Currencies
New York Times
In the beach resort of Phuket, Thailand, last month, the assailants pushed their victim, a young Russian man, into his apartment and kept him there, blindfolded, until he logged onto his computer and transferred about $100,000 worth of Bitcoin to an ...

and more »

What Is ETHLend?

TheMerkle ETHLendThere are many different business opportunities in the world of cryptocurrency and blockchain. Decentralized lending is a business venture a lot of companies would like to explore. ETHLend is doing exactly that, as their secure financial marketplace for peer-to-peer lending using blockchain and smart contracts is being developed as we speak. It is evident there are many benefits to using such a platform. What Does ETHLend do? When looking for a loan these days, there aren’t that many options at one’s disposal. Some people around the world don’t even have access to such services, mainly due to a lack of

TheMerkle ETHLend

There are many different business opportunities in the world of cryptocurrency and blockchain. Decentralized lending is a business venture a lot of companies would like to explore. ETHLend is doing exactly that, as their secure financial marketplace for peer-to-peer lending using blockchain and smart contracts is being developed as we speak. It is evident there are many benefits to using such a platform.

What Does ETHLend do?

When looking for a loan these days, there aren’t that many options at one’s disposal. Some people around the world don’t even have access to such services, mainly due to a lack of financial inclusion. With blockchain technology and digital currencies, all of those problems can be resolved given enough time and research. ETHLend positions itself as a decentralized peer-to-peer lending marketplace accessible to everyone in the world.

But how Does it Work?

There are many aspects of ETHLend which one should take into account. With this decentralized P2P lending marketplace, there is no central authority to prevent users from lending or borrowing. Everything is handled with smart contracts, and no funds are ever held by the company itself. Moreover, the team provides access to financial services in regions where such options simply do not exist right now.

Since there are no bank accounts involved, all one needs is an Ethereum wallet address in order to send or receive a loan. There are no variable interest rates either, as ETHLend wants to keep fees as low as possible for all parties involved. Additionally, the team focuses on transparency first and foremost. All peer-to-peer transactions are visible for everyone to see, which ensures there can be no tricks or shenanigans along the way.

For now, there is a demo application of the ETHLend platform for users to check out. This alpha is currently running on the main net and should be considered an incomplete version of the final platform. It does provide users with a basic overview of what the ETHLend ecosystem will look and feel like. There is also the native LEND token, which was issued during the project’s initial coin offering a while ago.

What is the LEND Token?

With the LEND token, ETHLend successfully raised several million dollars to build their platform. Holders of this token will receive a 25% discount on deployment fees on the ecosystem, which is a nice feature. Moreover, the team also uses some of the profits generated by this platform to buy back LEND from exchanges. These rebought tokens are then distributed to lenders and borrowers to increase overall adoption. As the platform becomes more popular, the LEND token will become a lot more scarce over time.

What Comes Next for ETHLend?

Before ETHLend can become a reliable P2P decentralized lending platform, a lot more work must be done. For now, the team is working on airdrops for active lenders and borrowers on the platform. There is also on-demand lending through predetermined collateral terms. A decentralized credit rating system and penalties for late payments will be coming in the near future, and an option to lend Bitcoin is expected to go live in the next four months. It seems there is no official beta release of the platform on the horizon, but rest assured ETHLend will transition to a more final state as these new features are introduced.