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December 24, 2018


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madisyn.bernhard@yahoo.com
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rfriesen@hotmail.com
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dean.carter@hotmail.com
dbechtelar@hotmail.com
bboyle@hotmail.com
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|> Next updates [25 Dec 2018 / 19:41]
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Crypto Opportunities for Developing Countries

October 04, 2018
Crypto Opportunities for Developing Countries
One of the latest trends for cryptocurrency and blockchain developers is making projects aimed at so-called developing countries. Limited access to the traditional banking system makes these markets favourable for the further development of various blockchain projects, which could improve conditions of life for many people there.

Blockchain Hype or Economic Necessity?

Blockchain Hype or Economic Necessity?

To be clear, by “Developing Countries” we mean any country outside of the International Monetary Fund (IMF) classed as Advanced Economies (e.g. North America, Australia, Japan, Europe, and Scandinavia).
Quite often, these “Developing Countries” are achieving more breakthroughs with far fewer resources. From South Africa to Venezuela and Indonesia, cryptocurrencies have already made an impact. For the unbanked or underbanked, putting their cash into crypto is a way to invest and realize gains which they would not have had otherwise, regardless of whatever else is happening in their local economy.
For governments, the use of a nationalized cryptocurrency and various blockchain-based public services can help reduce overall administrative costs, reduce fraud and establish independence to the need to price in USD, EUR or JPY equivalents.
Economics of Developing Countries

Economics of Developing Countries

Cryptocurrencies and blockchain technologies can help “Newly Industrialized Economies”, which are establishing international trade to expand necessary imports and export both natural resources and goods in several key areas:
  1. Retail and Business Banking transactions – moving towards cryptocurrencies can help to reduce the need to mint coins and notes, track these and of course eliminate the fraud associated with it. From Dubai to Slovenia, many cities are looking to run completely on cryptocurrencies.
  2. Digital Signature of Documents, Proof of Residency and Work permission – Estonia’s Estcoin may have been one of the first cryptos targeting blockchain technology in an e-Residency design, which tracks non-resident information and makes it easy for foreigners to establish businesses through blockchain technology. For many poor people, this could simplify the distribution of subsidies, proof of identity and work permission at home or abroad. Blockchain technology could also help those displaced by natural disasters, economic failure or war.
  3. International Trade. There are two key areas to consider here: Customs & Trackinginformation, and International Payment & Settlement. Blockchain technologies provide a secure, encrypted mechanism to track information relating to shipments. Customs taxation on these can be tracked more smoothly than through the mountains of paperwork.

What’s next?

Developing Countries have an opportunity to lead blockchain initiatives to fuel their own growth, reduce fraud, tax evasion and increase transparency of international trading. Venezuela’s hyperinflation crisis and subsequent implementation prove that simply “launching” a crypto does not guarantee success.
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Dead coins: How to make profit on them?

October 04, 2018

Dead coins: How to make profit on them?
Dead coins are an actual burden for the cryptocurrency community. Not only do they result in substantial losses for miners and traders but they also leave a mark of unstable and fraudulent nature on the whole blockchain industry. The blockchain developers are precisely the people to deal with such issues, so they already came up with several solutions for the problem.

What’s a dead coin?

To start on the same page, we should define “dead coin”. Most of the time coins are referred to as “dead” when they:
  1. Stopped getting support and engineering work from developers
  2. Lost significant activity in their blockchain
  3. Missed attention of their community
  4. Are not supported by cryptocurrency exchange platforms
In fact, the majority of dead coins shares all of the mentioned symptoms. It doesn’t take much time for a coin that lost its developers to start forfeiting the audience and become deprived of its place on cryptocurrency exchanges. There are various reasons for a coin to crash, including situations like code malfunctions, revealing of scummy nature of the coin, decline of the community interest and many others, so no one is protected from turning out to be an owner of some amount of dead coins in his or her wallet.
However, there is no need to panic, as some services already emerged to help those with purposeless coins on their accounts.

CoinJanitor

CoinJanitor project.

The first project worthy of mention is CoinJanitor. The process proposed by CoinJanitor consists of 3 steps:
  1. The CoinJanitor team worked in cooperation with DeadCoins.com and made a list of dead coins, dividing them into groups by such parameters as age, exchange volume, blockchain transparency, and some others;
  2. After identifying a valuable project, CoinJanitor team offers cooperation to the community and developers of the project. After receiving positive feedback, they take over maintenance of the project and reach to all holders of the dead coin with a proposal of swapping their coins to CoinJanitor’s JAN – ERC-20 tokens that can be exchanged and sold for Bitcoin and other major cryptocurrencies;
  3. All coins of the dead cryptocurrency are then burned and its code base becomes open-source if it has something interesting to offer.
The CoinJanitor team believes that the value of JAN token will be gathered by uniting communities of dead coins and providing cryptocurrency market with some kind of insurance mechanism, which it obviously needs today. However, CoinJanitor is not the only service in the field.
Jullar project

Jullar project

The project called Jullar was also established to free people from the burden of useless coins in their wallets. Their main product – GES (The Global Eradication of Shitcoins) is a platform that is a compensating platform that burns useless coins. Users must stay in the queue, and they’ll eventually get at least 0.00004 ETH for each liquidated coin.
Not all coins will be compensated, dead cryptocurrencies for compensation will be chosen by the community. It’s also important to note that only users that have at least 200 JUL can use products of the platform and 1000 tokens can be compensated for one place in the queue.  
Funds used for compensation are gathered from investments and donations from active members of the industry and the Jullar project revenue made with its other products. Those products include ICO Scanning Jullar (ISJ) – a platform for verification of ICO reliability and Blockchain JOUST JULLAR (BJJ) – decentralized tournament, for owners of cryptocurrency.

The future of dead coins problem

A significant part of the cryptocurrency community is waiting for some way to get rid of useless coins and make some profit on it. No doubt, someday a robust solution for this matter will be invented and it is possible that one of the current projects will be a developer of such a solution. So, if you have some amount of dead coins, maybe it’s not the time yet to throw them away.
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What Is Proof of Weak Hands 3D (PoWH3D) - An Overview

March 21, 2018


TO GET INVOLVED, VISIT
http://bit.ly/powh3d

TO BECOME A MASTER NODE (A NODE MASTER), VISIT
http://bit.ly/powh3d


**DISCLAIMER**: I am not a financial advisor nor am I giving financial advice. I am sharing my biased opinion based on speculation. You should not take my opinion as financial advice. You should always do your research before making any investment. You should also understand the risks of investing. This is all speculative based investing.
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Monero’s Adventures in 2017

January 09, 2018

Monero’s Adventures in 2017


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Monero is a cryptocurrency that is based on the CryptoNote protocol and is considered one of the blockchain based cryptocurrencies that provide high levels of anonymity to both senders and receivers of transactions. Monero XMR relies on “ring signatures” that render it almost impossible to link a given transaction to its actual sender. Moreover, Monero utilizes “stealth addresses” that obfuscate the receivers of transactions rendering it exponentially hard to determine the payee of a given transaction.
Monero witnessed many changes in the year of 2017, regarding both the currency’s open source code as well as its price and market capitalization. Throughout this article, we will highlight how Monero changed during the year 2017.
monero1

Important Monero code developments in 2017:


By far, the RingCT (ring confidential transactions) hard fork was the most important change across Monero’s network in 2017. RingCTs were initially introduced in January 2017 as an advanced version of Monero’s “ring signatures” to yield better obfuscation of transactions. The hard fork was scheduled for September 21, 2017, but actually took place on September 16, 2017, due to unexpected growth of the network’s hash to more than 250,000,000 hash/second. The hard fork introduced mandatory use of RingCT for all of Monero’s transactions.
Helium Hydra was a mandatory update for Monero’s code that also took place in 2017. It was released on September 7, 2017, and was designed to prepare the network for the RingCT hard fork. Helium Hydra boosted the minimum size of ring signatures to 5, blacklisted duplicate members within a ring signature and enforced the usage of RingCTs for all of Monero’s transactions. The release also fixed multiple bugs and improved the speed of network synchronization. Helium Hydra also introduced optional compact blocks that were named “fluffy blocks”, which reduced the bandwidth requirements for all node operators. The update also introduced full node support for Android and iOS operating systems. Fluffy blocks are expected to promote improved synchronization times for full mobile nodes in the future, once they become more popular.

Growth in Monero’s Price and Market Capitalization in 2017:


The year of 2017 was definitely the year of Monero, as its price grew from around $15 in the beginning of the year to around $360 in December, 2017. Even more, Monero’s price reached a yearly high of around $480 earlier that month, before stabilizing between $350 and $360.
chartmonero
There were many factors that contributed to the great rise in Monero’s price and market capitalization in 2017. Monero is now considered one of the most anonymous cryptocurrencies available today, which urged Alpabay, the darknet marketplace, to start accepting Monero payments in 2016 (Alphabay was shut down by the US government in July, 2017). Increased adoption in 2017, even by mainstream merchants, was also a main catalyst for the rise in Monero’s price. For example, as of today, there are around 45 musicians that accept Monero payments including Sia and Mariah Carey.

What to expect in 2018?



Even though 2017 was a great year for Monero, the upcoming year is expected to roll out some exciting developments that can increase the popularity and price of this CryptoNote cryptocurrency even more.
It is expected to see more and more darknet marketplaces accept Monero as a payment method. Bitcoin and other cryptocurrencies have proven to be useless for both vendors and customers on various darknet marketplaces, due to lack of privacy, fungibility and untraceable transactions.
We expect to see Monero XMR implement support of multi signatures, which will definitely boost the adoption of Monero in 2018. The support of multi signatures will mean a lot to both of mainstream merchants and darknet marketplaces. Actually, the lack of multisignature support is one of the main reasons holding back wide scale Monero adoption on various darknet marketplaces.
Even though Monero is one of the cryptocurrencies with high levels of anonymity, the “Kovri project”, which is planned to be implemented in the year 2018, is expected to increase the privacy levels of Monero even more. The Kovri project is a big improvement to the currency’s protocol that integrates the I2P routing technology to Monero’s network. Adding Kovri to the newly implemented RingCT technology will guarantee the anonymity of every transaction across Monero’s network. Kovri is planned to be integrated by default with every transaction so that every user across Monero’s network would benefit from an additional layer of I2P anonymity.
Hardware wallet providers including Trezor and Ledger Wallet have recognized the increased adoption of Monero XMR and are now working to provide support for this highly anonymous cryptocurrency. We expect to see these top hardware wallet providers support Monero in 2018.
In the end, it is worth mentioning that the year of 2017 was full of adventures for all of Monero’s enthusiasts who enjoyed a %2,700 rise in the currency’s price and market capitalization. As the currency’s development board is working on increasing the privacy and anonymity features of Monero, we can expect to see even wider adoption and greater market growth throughout 2018.


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Why Have Bitcoin’s Transaction Fees Skyrocket Recently?

January 09, 2018



Why Have Bitcoin’s Transaction Fees Skyrocket Recently?


logoblog
During the past few weeks, bitcoin’s transaction fees have markedly increased and today, it typically costs around $20 to send a payment across bitcoin’s network. The reasons underlying this rise in transaction fees are rather complex but can be namely attributed to an increased number of transactions and the limited amount of transactions that the bitcoin network can handle per second. For today, the bitcoin network can process around 7 transactions per second.

Bitcoin Network Congestion:

Bitcoin price has skyrocketed during the past couple of months, reaching a historical high of around $20,000 earlier in 2017. The soaring bitcoin price has been associated with a steep rise in the number of transactions across the network, which led to great delays in confirmation of transactions. Some operations have been reported to be confirmed days after payments have been actually sent. During the past couple of months, the number of unconfirmed transactions has been constantly rising and according to blockchain.info, there are currently more than 180,000 transactions awaiting confirmation by miners.
104853635-GettyImages-870113330
This network congestion has increased the transaction fees in a way or another. When you send a bitcoin payment, you will have to pay a fee which represents an incentive for miners who will confirm your transaction. Bitcoin transaction fees are not fixed, as the sender of a payment can choose how much to offer for speeding up the process of confirmation of his/her transaction. Miners are free to select which operation to confirm first, so payments with higher transaction fees are prioritized. As such, to prioritize confirmation of a transaction, one has to increase the amount offered to miners, which contributed to the rise in transaction fees even more.

How Are Bitcoin Fees Calculated?    

The system used for calculating bitcoin’s transaction fees is totally unrelated to the number of coins sent throughout the transaction. Instead, transaction fees are calculated on a satoshi/byte basis, so the amount of fees you pay is related to the size of the transaction in bytes. Also, as the value of one satoshi has markedly increased, the transaction fees have skyrocketed too. The average size of a bitcoin transaction is around 226 bytes and with the current bitcoin price (1 BTC = $16,000), 1 satoshi is worth around $0.00016 USD. According to bitcoinfees.info, the fees needed to get your transaction confirmed within 30 minutes (i.e. included within the next 2-3 blocks) are around $20.43.
The least amount of fees one can pay today equals $19.63, which would get your transaction confirmed within 6 blocks (around 1 hour), yet with the increasing number of piled up unconfirmed transactions, the delay in confirmation of your transaction can reach infinity, if you choose to pay the least possible fees.
As such, the rise in bitcoin’s transaction fees is more or less related to the rise in bitcoin price, which was mostly catalyzed by speculators, rather than those who believe that bitcoin is an ideal payment method that will render other payment methods obsolete. Nevertheless, the rising fees and long transaction confirmation times are the main obstacles hindering mass adoption of bitcoin. For example, Steam, the online gaming site, halted acceptance of bitcoin payments earlier this month, mainly because the high fees led to unreasonably high prices. Interestingly enough, according to Steam, when the site added bitcoin as an accepted payment method, transaction fees averaged around $0.20.

Monero’s transaction fees have risen too:

Monero-vs-Bitcoin-cropped
The rise in the price of Monero XMR has also led to an increase in transaction fees. Presently, the fees needed to send a transaction across Monero’s network equal 0.00024 XMR. Consequently, with an average transaction size of around 13,058 bytes, the current approximate transaction fee equals 0.003120 XMR, or $1.248, considering the current price of Monero (1 XMR = $400). You can also prioritize the confirmation of your transaction by increasing the fees up to 4 times, i.e. $4.992.
As such, even though Monero’s transaction fees have also risen, it is still much cheaper than bitcoin’s transaction fees. Also, Monero’s blockchain utilizes an adaptive block size, which means that usually, you won’t have to pay higher fees to prioritize the process of transaction confirmation, as opposed to bitcoin’s network which utilizes a fixed block size.
Monero’s development board is currently developing a solution, known as “bulletproofs”, which is expected to markedly reduce transaction size, which would definitely result in lower transaction fees. Note that the size of a Monero XMR transaction is much larger than the size of a bitcoin transaction, due to Monero’s emphasis on privacy and anonymity.
In the end, it is worth mentioning that the rise in bitcoin’s transaction fees (and other cryptocurrencies too such as Monero) represents a big challenge that will slow down the globalization of decentralized blockchain based cryptocurrencies. Developers have to work on developing solutions that can overcome this obstacle such as the “lightning network” that can reduce the fees for small transactions, or “micropayments”.

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FutureBit MoonLander 2 LiteCoin Scrypt Miner USB Stick

December 25, 2017

FutureBit MoonLander 2 LiteCoin Scrypt Miner USB Stick



Product description

– 3 M/H to 5 M/H Scrypt performance per miner

– Uses about 1.5 W/MH for most of that range

– Core clock from 500mhz to nearly 1GHz!

– Fully customizable core voltage range from .6 – 1v

– Fully redesigned 5v->core voltage stage with about 95% efficiency

– Heavy duty/over speced parts were used to ensure wide range of operation (stick can be pushed to nearly 6mh if you can cool it)

– Status LEDs for power, TX and RX transmission

– Uses latest bfgminer 5.4 for control

– Will work with all Mac OS, Linux, and Windows based PCs, as well as RPi’s etc




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How I Made $1,600,000 in Bitcoin

December 17, 2017

How I Made $1,600,000 in Bitcoin

When bitcoin was $500, (it‘s’ $19,800 as I write this ) a client called my offices and asked if he could hire me to speak at his conference in Las Vegas. My guy, Robert told him my fee was and he agreed to it with one caveat, he wanted to pay in Bitcoin.
Robert then brought the proposal to his manager who immediately and emphatically said, ‘NO.”
A few days later, Robert called me on a Friday night saying, “GC, a client is insisting you speak at his conference but he wants to pay you in bitcoin.” This was Friday night at 9pm and without knowing much about bitcoin, I told Robert, tell the client, “I look forward to speaking at his event and I will gladly accept bitcoin as payment.”
I hung up the phone knowing something special had just happened. This was my first experience with any cryptocurrency. I had heard about bitcoin thing and crypto currencies but I didn’t understand it. When you are running a business, or in my case five of them, and raising a family and doing life, you miss a lot of things. I was clueless on bitcoin and still today don’t fully mostly understand it.
What is interesting to me however is my understanding or lack of understanding is not much different than my understanding of stocks, bonds, derivatives, futures, ETFs , mutual funds, puts, stops, or for that fact, even how cash works.
So why would I accept the bitcoin without fully understanding it? I immediately agreed to accept the 100 bitcoins based on three philosophies that have never let me down:
1) Always say yes to the customer until you find out you can’t.
2) Commit first figure, the rest out later.
3) Accepting bitcoin is no different than any other form of payment. (More on that later.)
The way I worked this out in my mind was simple. A client wants my services and has a form of payment I don’t know anything about. The fact that I don’t understand the form of payment is not his problem, it’s mine. Would I take worthless pieces of paper (cash)? We do it everyday. Who knows what a dollar is really worth anyway. Would I take a contract or promise to pay in the future (debt)? I have millions of dollars in contracts with companies who promise to pay me in the future. Would I take shares of stock in a company in exchange for services rendered? Yes, I have and yes I will in the future.
So literally without fully understanding the currency, I used simple logic to make my decision. Do I want the customer? Yes. Am I willing to accept a payment I don’t yet understand? I do this everyday and so do you.
I remember when I set up my first Paypal account to accept money and didn’t understand it. Now we accept it everyday. Decades ago, I remember my first merchant accounts with AMEX and VISA, so I could take credit cards.
So while everyone else is becoming an expert doing due diligence on crypto currencies, bitcoin, litecoin, etherium and the other thirteen hundred new currencies, I was busy creating an account so I could accepted the 100 bitcoins into my new bitcoin account.
We booked the trip, I figured the cost of flying to the Vegas event and told my accounting department, “sell enough of that ‘bitcoin stuff’ to cover the cost of the trip and keep the rest.” We created a bitcoin wallet where 80 coins still sits today worth almost $1.6M.
The moral of the story is too much due diligence can make your ignorant. Keep it simple, figure out how to say yes. Let’s face it, every form of currency you accept today is only worth what we all agree it is worth. My eight year old daughter asked me yesterday, “Papa how can money, which is simply a piece of paper, be worth anything? ”
The only reason $100 bill is worth a hundred dollars is because we all agree it does. The reality is it is worthless. The same thing with any form of currency or stock, bond, or mutual fund.
What is bitcoin worth? It is worth whatever you and I decide it is worth. And today it is worth almost $20,000 per bitcoin.
Everyone wants to know, “how high will it go?” “Which crypto survives?” “Which crypto should I invest in?” “Is it a bubble?” This is what I know, it is best not to complicate or speculate. Simplify what this is.
Whether you accept dollar, rubles, pesos, pounds or yen there are only pieces of paper. There value is an agreed upon one. In most cases that paper is converted to digits, which you pay the bank to secure. Stocks, ETF’s, mutual funds, bonds and the like are pieces of paper that Wall Street manufactures. They set a suggested value for each one and then allow the market through trading to decide what each share is worth.
I love the idea of a currency with a perfect ledger and no middle man. I hate banks and I hate Wall Street even more. You see a bank on almost every street corner in America sitting there creating an image of self-importance and stability. They hold your money, pay you nothing for doing so and when you need to withdraw your money it they charge you to take it out.
Then there is the Wall Street casino manufacturing every form of scheme and game to sell imaginable; bonds, stocks, etc’s, mutual funds, 401k’s, derivatives and on and on. It’s all so complicated the banks won’t even lend money on their own stock and the average investor is encouraged to diversify or invest in to spread the risk across many stocks to reduce exposure to loss (another scheme to benefit the brokers.)
This will be and should be disrupted. You and I, deserve a secure place to store our money, property, ideas, trademarks, or anything of value without being held hostage by some middle-man ‘capitalist’ who did nothing to create it or add value.
I can’t tell you which crypto makes it or how high they will go or which one is best, but I do believe crypto currency solves a problem of such tremendous magnitude that the upside is almost hard to think with.
I look forward to your comments.
Grant Cardone,
CardoneCapital.com
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