Ethos ETHOS

$0.0928
Market Cap $ 8.149 MM (#251)
24h Volume $ 243.096 K
Chg. 24h: 3.49%
Algo. score 3.2/5  (#419)
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Ethos News

Binance Incubator Program to Foster Innovation For Blockchain and Crypto

The bear market this year has seen an exodus from cryptocurrencies for a lot of people and companies. Not all are so pessimistic though and not all are in it for a quick buck. Binance is one of the pioneers of the industry and has recently launched a program to foster innovation for blockchain and crypto. Binance Not Deterred by Bear Market The first batch of initiatives for the Binance incubation program will focus on solving the most critical issues currently facing the industry. There are a number of projects aimed at nurturing education and mentorship in the crypto space run through the exchange’s venture arm Binance Labs. According to the head of Binance Labs, Ella Zhang, who spoke to Forbes last week explaining the ethos behind the ten week on-site program; “Through the program, we support entrepreneurs who are solving critical problems for the blockchain industry. In particular, we help participants focus on “BUIDLing” products from an early stage. The term BUIDL is a glossary term from the Binance Academy, originally derived from HODL, a term referring to keeping your heads down and focusing on building your product,” Over 500 projects applied for the first round of the incubation program and only the top 8 were selected. Those lucky few will get direct funding of $500,000 and full access to the all resources they need from Binance. According to the report, seven of the eight projects had launched working products and enrolled new members. Three of them already have paying clients and their recent ‘graduation’ from the program will put them on the path to greater things. Binance also offered the opportunity for these projects to pitch at the Singapore Blockchain Week organized by the company next month. Some of the problems tackled included hardware wallet development, secure logins for dApps, prediction markets, blockchain data insights, computer security systems, and decentralized exchanges. “There are two problems we have seen in the ecosystem, which helped inform our design of the program: a lack of product-market fit in many blockchain projects, and the market hype that distracts founders from BUIDLing. With the incubation program, projects can focus on shipping a working product or service with product-market fit as quickly as possible,” Zhang added. Binance has taken the initiative to focus on developing the technology for the future rather than looking at the prices. Its own trade volume is massively down from over $2 billion per day to around $300 million today according to Coinmarketcap. This has not deterred the team though which has not only expanded internationally over the past year but is now channeling energies into education and innovation for the nascent industry. Image from Shutterstock The post Binance Incubator Program to Foster Innovation For Blockchain and Crypto appeared first on NewsBTC.

7 hours ago

Interview: Alex Mashinsky on the Celsius Network, Bitcoin, Ethereum, and the blockchain’s killer app

It has been a phenomenal year for VoIP pioneer and Celsius Network mastermind Alex Mashinsky: he’s successfully launched a blockchain project which has a clear plan, is compliant, and has a well-defined use case, he’s participated some of the most important debates in the industry, and he has grown his business and influence even in the middle of a destructive bear market. Under these considerations, it made a lot of sense to invite the Ukrainian entrepreneur to a discussion about the most important developments and phenomena in the ever-bourgeoning blockchain industry. During this exclusive Crypto Insider interview, he spoke about some of the most notable events he’s witnessed in 2018, as well as his vision for Celsius. Attached you will find the first part of the interview in both video and written form. The second part contains a more in-depth analysis of the Celsius Network app, with practical examples given during a process where Vlad deposits some coins into the ecosystem. Full transcript: Vlad Costea: Hello and welcome to another Crypto Insider interview! I am Vlad and today I’m speaking with Alex Mashinsky, who is the creator of the Celsius Network as well as an innovator in the field of TCP/IP. Hello, Mr. Mashinsky! Alex Mashinsky: Hi, Vlad. Thanks for having us. Vlad Costea: So it’s VOIP not TCP/IP, right? Alex Mashinsky: It’s VOIP, but it uses TCP/IP so yes, it’s part of the protocol. Vlad Costea: Okay. So... I have so many questions to ask you right now, I’m not sure what I should begin with. But let’s talk about the way I found out about you and your activity. And it was during the Milken Institute debate, which I found fascinating. You debated a representative of the US reserve. I think his name was Macintosh. Alex Mashinsky: Yes, there were um... there was the founder of Abra which is a wallet company. Yeah, and Nouriel Roubini and we had a representative from the Federal Reserve. [1:16] Vlad Costea: Okay, so I noticed during the debate that you’re basically the first crypto socialist I ever discovered. You talk about the policy - you talk about all these issues with the world wealth and you talk about where this redistribution trick through crypto currencies and that to me was an eye opener. Alex Mashinsky: Well, so I was born in the Ukraine - so, born in communism. Grew up in socialism in Israel. Spent 30 years in the United states. I tried all three systems, you know economic systems that we have. And each one of them has its own set of problems. Obviously, communism does not work for most people, but the system has tried to create equality for everybody. Socialism is basically saying we have to have a safety net for everybody, right? So we’re going to catch anyone who is falling through the system - you know, has medical problems or anything like that. And capitalism is a system that’s very good for the 1% but not so good for the 99%. So really, humanity is struggling to come up with an inclusive system that could be acting in the best interest of the 7 1/2 billion people that are living on this planet. And I view the blockchain powered by crypto currencies as the 4th system. So it’s not that I’m a crypto socialist, it’s more that I think we can take the best ideas from the other 3 systems and create something that is for the people by the people vs people like me that got to immigrate to the US and do several start ups and be successful get to enjoy all the benefits, but most people on the planet don’t have access to these opportunities. [3:20] Vlad Costea: Do you find any ideological common ground with Nick Szabo who talks about social scalability? Alex Mashinsky: Nick is a good friend. He’s based here in New York, as well. I think he is a purist - meaning he believes that Bitcoin is the solution for everything. And, my views - I agree with him at the high level on the ideas but I think that the killer app or the blockchain that is going to enable everything that I just talked about has not yet been invented. Vlad Costea: Oh, ok. But it was much more about the idea that there are nearly 8 billion people living on this planet and the resources are very limited. He believes that blockchain and Bitcoin are going to enable a fairer and smarter distribution of resources. Alex Mashinsky: Well, fairer and smarter distribution is definitely the right thing. That, I would not say that we have limited resources. Just to give an idea we, in the US, we throw away a 1/3 of all the food we produce every year. Just throw it away because of expiration date because it wasn’t consumed on time, or because it was not eaten completely or whatever. The modern waste that the West generates, especially the US, is just colossal. We can feed the entire planet with just the waste the US is produces. [5:04] Vlad Costea: I’ve watched you debate Nouriel Roubini, who is maybe the most vocal critic of cryptocurrencies and I’ve seen you take on him during the Milken Institute debate and later during the Blockchain

a day ago

Timothy C. May: A Tribute

Every field has its pioneers and heroes, and every culture or scientific branch in the world can be associated with the brilliance of an individual or a group. In the case of the cypherpunk movement, it’s Timothy C. May (colloquially referred to as Tim) who shines as bright as the community’s ideals themselves. For the mass of blockchain and cryptocurrency enthusiasts, Mr. May is a rather unknown who documented the cypherpunk movement in the early 1990s (“The Cyphernomicon” is still on of the most cited and influential works in the field). But to people like Nick Szabo, Wei Dai, Adam Back, Hal Finney, and John Perry Barlow, he was a living idol who promoted an ideology that can be put into practice through cryptography. Just like Sir Isaac Newton, Copernicus, and Galileo had the writings of Aristotle to provide inspiration and give them the required theoretical foundation to undergo scientific experiments, the cryptocurrency world had Timothy C. May to push for a truly anarchistic world where privacy and self-organization are the absolutely unquestionable norms. It’s safe to say that without the intellectual output of Mr. May we wouldn’t have Bitcoin today. All the works that preceded Satoshi’s blockchain project, from B-money to Bitgold, have drawn a clear ideological influence from the writings of Timothy C. May. Anyone reading “The Crypto Anarchist Manifesto” today can notice two essential elements: it’s still as contemporary as ever, and the current cryptocurrency projects may not be the fruition of the envisioned “barbed wire fences” loss. And even outside Bitcoin, we can see a clear influence in some key figures - in 2007, Nick Szabo has published a blog post in which he encouraged aspiring political activists who want to make a difference to make their own law by writing and using “cryptography, smart contracts, bit gold, digital cash, and other security protocols made possible by computer science.” The more Bitcoin moves towards institutional adoption, with mandatory KYC/AML procedures and centralized exchanges that can lock funds and block transactions, the farther we get from the ideals outlined in “The Crypto Anarchist Manifesto” and “The Cyphernomicon”. Ultimately, the legacy that Timothy C. May has left to us is a constant desire to attain absolute privacy. If John Perry Barlow has inspired an entire generation of cyber libertarians to demand their rights from governments (mostly through his famous piece, “A Declaration of the Independence of Cyberspace”), then Mr. May has given freedom lovers all around the world the motivation to write chain-liberating code which creates cryptographic shields. He was the Diderot of cypherpunks, a true man of letters and innovator who took precious time to document the works of his contemporaries and put together a massive dedicated encyclopaedia. The next time we cheer and applaud as big financial institutions announce cryptocurrency investment funds, we should think twice. A couple of months before his passing, the cypherpunk was interviewed by Coindesk and he talked about the state of Bitcoin 10 years after the release of the whitepaper. In relation to the status-quo, he said that we definitely don’t need another PayPal or an alternative way to make bank transfers. Bitcoin shouldn’t turn into a surveillance apparatus which is friendly to KYC/AML practices, regardless of what big institutions want. The cypherpunk ethos demands for privacy, and cryptocurrencies should aspire to reach it to a greater extent (maybe that further developments like Schnorr signatures, confidential transactions, and even the Lightning Network will take us into a greater era of both privacy and fungibility). To Mr. May, privacy must be absolute and unquestionable. His philosophy in regards to human nature was always positive, as he believed that outlaws and criminal activities are the exception of the rule (not the norm, as Orwellian governments want us to think). And ultimately, regardless the part of the world where we find ourselves, the extent to which we understand coding and cryptography, and our ideological affinities, it’s important to remember the work of a man who wanted nothing less than absolute freedom and privacy. In a sense, it’s tragic that 2018 has taken away from us both John Perry Barlow and Timothy C. May. But in the grand scheme of things, this is a great opportunity for us to rediscover their writings, understand their viewpoints, and find ways to achieve these ideals through the technologies that we have (or at least support those who attempt to, for the greater good of our society). Let’s celebrate their efforts by lobbying our governments, educating ourselves and others about the importance of freedom and privacy, and writing world-changing code that will take us into a whole new era where reputation and trust replace mass surveillance. The post Timothy C. May: A Tribute appeared first on Crypto Insider.

a day ago

Bitfinex’s DEX Ethfinex Trustless Crosses USD 1.5 Million Daily Trading Volume For 3 Consecutive Days

Decentralized Exchanges (DEX) are considered to be the future of exchanges and people are slowly realizing its advantages and adopting it. the same seems to be happening with Bitfinex’s Ethereum based trading solution, Ethfinex, which has recorded superior trading volumes over past 3 days clearly showing that Bitfinex’s DEX is getting stronger. Ethfinex going stronger as it launches a decentralized asset management Its been just three months since Bitfinex launched Ethfinex trustless and the DEX has already started doing wonders as it swiftly moves on track to achieve the best DEX position. According to the recent tweet put forward by Ethfinex, the trustless exchange has achieved in excess of USD 1.5 million daily trading volume for three consecutive days Over the past 3 days Ethfinex Trustless has exceeded $1.5million in daily trading volume! Check out https://t.co/KjfSyA0C6O and take control of your trading experience. pic.twitter.com/lagT8N5KMg — Ethfinex (@ethfinex) December 13, 2018 This figure shows not only shows that Ethfinex is growing stronger but also put forward the fact that people have slowly started to believe in the concept of decentralized exchanges. This news comes 48 hours after Ethfinex announced that it has launched a decentralized asset management network in partnership with Rigoblock. This industry-first partnership is expected to enable all Ethfinex customers to deploy, manage and trade decentralized token pools in a reinvention of the traditional asset trading model. We are pleased to unveil the full integration of the @RigoBlock asset management infrastructure on Ethfinex Trustless! Anyone, anywhere, can now set up, run and invest in Ethereum-based token pools on https://t.co/KjfSyA0C6O in a matter of minutes.https://t.co/SHrc1QMgaJ — Ethfinex (@ethfinex) December 13, 2018 Rigoblock is a blockchain protocol that makes it possible for anyone to set up and run a decentralized token pool. Offering modular and abstract software, Rigoblock enables any developer to personalize the blockchain protocol and build their own applications. Will Harborne, Director of Operations at Ethfinex was quoted on the official blog where announced the launch of asset management services “We are incredibly excited to be collaborating with RigoBlock to deliver a seamless asset management experience on Ethereum. With a shared ethos to provide a democratized and decentralized trading environment for the community, we are certain that this collaboration will pave the road for fantastic developments to take place within the realm of decentralized finance.” Bitfinex had launched Ethfinex with an overarching goal to deliver a sophisticated trading experience whilst democratizing the governance decisions surrounding a cryptocurrency exchange and it looks like Ethfinex is ticking all squares With rising volumes and new service additions, Ethfinex has the potential to become the best DEX available today and as the world slowly moves slowly towards decentralization, Ethfinex could definitely be a prominent name in the cryptocurrency exchange industry What are your views on Ethfinex and decentralized exchanges? Do let us know your views on the same The post Bitfinex’s DEX Ethfinex Trustless Crosses USD 1.5 Million Daily Trading Volume For 3 Consecutive Days appeared first on Coingape.

2 days ago

In Case You Missed It: Shingo answers the community’s questi...

In Case You Missed It: Shingo answers the community’s questions about what the future holds for Ethos, how we've br… https://t.co/bBf9xiW27Z

3 days ago

Op Ed: Bitcoin Is a Declaration of Our Monetary Independence

Nick Spanos is an early adopter and innovator in the blockchain space. He is best known for launching Bitcoin Center NYC, the world’s first live cryptocurrency exchange, in 2013, right next to the New York Stock Exchange — as immortalized in the Netflix documentary “Banking on Bitcoin.” As part of Bitcoin Magazine’s series of interviews and op eds leading up to the 10th Anniversary of Bitcoin, Nick shares his thoughts an early Bitcoin adopter.Before Bitcoin, I worked tirelessly for liberty-minded political candidates for many years. These candidates, the most prominent of whom was Dr. Ron Paul, spoke out against the Federal Reserve Bank because of its role in inflating the money supply which devalued the life savings of hard-working people. In almost every case, the mass media would sharply (and often unfairly) attack the image of the candidate with half-truths and misinformation, decimating our poll numbers, until they were sure that we would be defeated on Election Day. No matter how hard we worked or how much money we raised, we were no match for what I call the political bosses of today, the mainstream media.After two decades of struggle, I thought I had wasted my life fighting unwinnable battles. Then one day, I read the Bitcoin white paper. I read it half a dozen times and I thought, “Finally, I have a weapon that cannot be destroyed on Election Day.”Bitcoin for me is not an instrument for financial investment. Bitcoin for me is a declaration of our monetary independence.When I started the Bitcoin Center in 2013, I had a flourishing real estate business in downtown New York. I had an established career in developing technologies for political campaigns. Because of bitcoin’s reputation in the mainstream media back then, I knew that many of my relationships would be destroyed if I emerged as a public figure in the cryptocurrency space. When I launched the center, a press release was sent out revealing me as the founder even though I never wanted that information to go public. Immediately, concerned friends and family started calling me, asking me what I was getting myself into and wondering if I had lost my mind. Bitcoin was for illicit activities on the internet, they told me. This is nothing but video game money, said others. My life mission of personal freedom was more powerful than anything anyone could ever say to me.I knew I had to bring Bitcoin out of the back alleys and onto Wall Street for the world to take it seriously. So, for many years, by day, we taught reporters, stockbrokers, students, technologists and tour groups about bitcoin, for free, and by night, bitcoin and other cryptocurrencies were traded on the world’s first live cryptocurrency trading floor (also for free). Every day, we made our stand, not knowing which government agency might walk through the doors or what papers they might serve us, or even worse. Yet we stood there, like David with his slingshot up against the modern day Goliaths, in an open and notorious manner, unwavering and unafraid. For years, we fought tooth and nail and spread the ethos of decentralization far and wide, with a team of lawyers at the ready. Licenses were created against us to thwart the rate at which we were growing. Agencies worked tirelessly to figure out how to turn people off from adopting bitcoin, and yet the little bitcoin thrived against all odds.Then one day, we looked up and we realized something: Many big companies are attempting to bamboozle us. Microsoft, IBM, Goldman Sachs, JP Morgan, even Google and Facebook — overnight, all these goliaths of centralization are attempting to enter “blockchain.” They are touting what they call “blockchain,” but what they are actually peddling is another iteration of centralized control in, what is for many of them, a last ditch effort to stay relevant.Many people in our community were excited by the invasion of these goliaths because they had thought it might lend us legitimacy. But that’s only because they had been brainwashed into thinking that our community was otherwise illegitimate. We, the open, permissionless blockchain believers, are the legitimate ones.The reality is that the educational work we began at the Bitcoin Center is more important now than ever before as we continue to teach people the true meaning of decentralization. As many have said, and as I have said in forums in dozens of countries throughout the world, from Saudi Arabia to Sri Lanka: There can be no transparency, immutability or accountability without decentralization.The internet grew by leaps and bounds because it was permissionless. A permissioned internet would probably have been nothing in comparison. The same is true for the blockchain. Despite these powerful institutions and regulators who are shoving their centralized agendas down our throats, I am confident in the resilience and fortitude of our ever growing community to withstand these attacks. If we don’t all stand for something, we will fall for anything. We ha

3 days ago

Make sure to leave comments and reviews for all of your favo...

Make sure to leave comments and reviews for all of your favorite coins in the Ethos Universal Wallet. See a helpful… https://t.co/TtoCRoBYq5

5 days ago

Check out the press coverage we have received at Ethos from ...

Check out the press coverage we have received at Ethos from our latest announcement on Ethos x Voyager Cashback Rew… https://t.co/PitaCDmR7o

6 days ago

Now, with Ethos Cashback Rewards & Ethos Status, we have...

Now, with Ethos Cashback Rewards & Ethos Status, we have introduced a new era in Ethos Token Utility. In 2019, we w… https://t.co/0D5DelHO1Z

7 days ago

Voyager Users Will Now Earn Cashback Rewards for Ethos Holdings

Crypto storage and monitoring platform Ethos has partnered with Voyager to allow cashback rewards on Voyager trading activity. Ethos token holders will earn cashback (ETHOS) for trading via Voyager cryptocurrency trading service, which is a commission-free platform. The cashback earned will depend on the number of ETHOS in the wallet of traders and the total volume of trades executed on Voyager's platform. This news follows the employing of Ethos to be a self-custody option on Voyager's platform. (KE)

7 days ago

Kevin Pettit is back with an update from the Ethos engineeri...

Kevin Pettit is back with an update from the Ethos engineering department. Check out what was released in last week… https://t.co/pdZzEY9wmO

9 days ago

Today, we’ve announced Cashback Rewards! Cashback Reward lev...

Today, we’ve announced Cashback Rewards! Cashback Reward levels are determined by cross-referencing your Ethos Stat… https://t.co/HQfjd1BpQI

10 days ago

Ethos is excited to announce a new era of Ethos Token Utilit...

Ethos is excited to announce a new era of Ethos Token Utility! Ethos Token Holders will be eligible for cashback re… https://t.co/vv9R5oBmnx

10 days ago

Ethos is live on Delta Direct! All the latest ETHOS news &...

Ethos is live on Delta Direct! All the latest ETHOS news & updates will now be directly available on @get_delta!… https://t.co/eyhwxdM9NZ

11 days ago

Crypto Bear Market Strikes: Ethereum Classic (ETC) Development Group Folds

While crypto’s unbridled optimists have done their best to keep this market afloat, incessantly imploring Bitcoin investors to “HODL” and “BUIDL,” their cries haven’t stopped a key Ethereum Classic development group from unfortunately capitulating. Ethereum Classic Ecosystem Loses Key Player Amid Market Tumult After a multi-month downturn in the cryptocurrency world, which has seen $700 billion evaporate from this industry’s market value, ETCDEV, an essential player in the Ethereum Classic ecosystem, has announced its closure on December 3rd, 2018. For those who aren’t in the loop, ETCDEV is an Ethereum-centric development group launched two and a half years ago, whose creation was catalyzed by the DAO debacle of 2016. Since the organization came into being, it rapidly became the face of the Ethereum Classic development community, lauded for its penchant for technological revolution and its ability to innovate. But now, as aforementioned, the organization has had to fold, purportedly due to funding constraints. Through a tweet, Igor Artamonov, the founder and chief technology officer of ETVDEV, wrote: Unfortunately ETCDEV cannot continue to work in the current situation and has to announce shutdown of our current activities pic.twitter.com/N6xWnpBNJJ — ETCDEV (@etcdev) December 3, 2018 Although the ETCDEV executive cited a lack of sustainable financing, this message comes just days after Artamonov released a Medium article lambasting one of his peers for being a “Trojan Horse” for another team. Regardless, the fact of the matter is that Ethereum Classic remains heavily wounded after this occurrence, as the project lost its primary development team. Since the disheartening announcement from the experienced development consortium, ETC has fallen by 9.40% to $4.61 a pop, under-performing BTC by 5.7%. Upon the advent of the rapid sell-off, deemed irrational by some, yet backed by $190 million in 24-hour volumes, the official Twitter page of the Ethereum predecessor quickly took to its brainchild’s side. Through a message of support, evidently issued to calm the nerves of perturbed ETC investors, the team made it apparent that ETCDEV isn’t the entire project. Instead, it was noted that Ethereum Classic is a consortium of like-minded innovators and teams, such as IOHK, ETC Co-op, “and a litany of volunteers.” Aggregating its underlying bullish sentiment into a single statement, the show-runners behind the @eth_classic handle simply wrote, “keep calm, and build on.” Crypto Bear Market Qualms This recent announcement comes just days after Steemit, the company behind the (somewhat) decentralized social media platform that shares its name, revealed it was undergoing a business reorganization, purging 70% of its employees. Related Reading: Steemit Announces Structural Reorganization, Laying off 70% of Employees Ned Scott, CEO of Steemit, said on the matter: “While we were building up our team over the last months, we had been relying on projections of basically a higher bottom for the market... Since that’s no longer there we’ve been forced to lay off more than 70% of our organization.” He explained that as Steemit’s top brass met, amid worsening market conditions, it became logical that a staff restructuring at the private startup was necessary. Interestingly, Scott failed to divulge an exact headcount pre- and post-purge, making it difficult to discern how many were affected. SpankChain, an adult entertainment platform centered around blockchain, recently saw its CEO take to Reddit to announce that it, as well as Steemit, had downsized drastically. The project head noted that the SpankChain project hired eight individuals, and has reduced its burn rate from $200,000 to $80,000 per month. However, it isn’t all doom and gloom, as not all crypto-related organizations and startups have been subject to the financial pressure caused by the unpredictable cryptocurrency market. As reported by BreakerMag, Ethereum pioneer Joseph Lubin, who can be likened to the Sergey Brin (Google co-founder) of the blockchain industry, recently distributed an uplifting note to all employees at ConsenSys, often defined as the Google of this innovative sector. In the letter, authored by the passionate Canadian technology entrepreneur, it was noted that in spite of the market sell-off, ConsenSys remains poised to “succeed wildly,” with a potential to usurp the traditional facets of society. Lubin wrote: “[Blockchain is] a technology and an ethos that many of us believe will profoundly reshape human society over time... We now find ourselves occupying a very competitive universe, [and have the ability to] succeed wildly. [But,] we must recognize that what got us here will probably not get us there, wherever ‘there’ is.” In a testament to Lubin’s undying belief in this decade-old technology, ConsenSys itself, primarily consisting of a handful of distributed subsidiaries, has reportedly hired upwards of 550 employees. BreakerMag has divulged

13 days ago

Bearish Crypto Market Makes Ethereum’s ConsenSys Eliminate Underperforming Projects

CoinSpeaker Bearish Crypto Market Makes Ethereum’s ConsenSys Eliminate Underperforming ProjectsConsenSys, the New York-based blockchain startup backed by Ethereum, is reorganizing. Such an announcement has been made by ConsenSys CEO and Ethereum co-founder Joseph Lubin.Lubin wrote:“We must retain, and in some cases regain, the lean and gritty startup mindset that made us who we are. We now find ourselves occupying a very competitive universe...We must recognize that what got us here will probably not get us there, wherever ‘there’ is.”The move marks the entrance of the startup to a new phase called ConsenSys 2.0. According to ConsenSys, this phase will be marked by greater efficiency, accountability, and attention to revenue. The company will eliminate underperforming projects, and the emphasis will be on creating tangible value.Lubin stated:“In ConsenSys 1.0, we built a laboratory instrumented to prove the moon existed, using complex engineering and math and creative philosophical arguments. Now, we need a streamlined rocket ship to get us there, since the actual proof, ultimately, is in the landing.”The ConsenSys staff learned about the initiative last Friday. In his letter, Lubin congratulated everyone for contributing to the startup’s development and dedication to “a technology and an ethos that many of us believe will profoundly reshape human society over time.” Further, Lubin said that currently, staff layoffs are not planned, but he wouldn’t rule it out in the future.In 2017, there was a boom in crypto assets, which partly contributed to the development of ConsenSys. Since February, the company’s workforce has doubled to more than 1,100 people, spread across 29 countries, and much of that growth was funded by Lubin himself. Through it all, ConsenSys has held fast to a unique business model that prizes decentralization, worker autonomy, and project variety over efficiency.However, changes and improvements should take place continuously for any company to thrive. And ConsenSys has found a way to ginger up its activity.In a new phase of development, projects will be judged on three metrics: revenue, or return on investment, benefit to the Ethereum ecosystem, and social good, for which the means of assessment are still being determined.Lubin said:“We’re going to get a lot more rigorous in terms of milestones and timetables, even if that means dissolving projects if we’ve come to the conclusion that our earlier assumptions were incorrect.”Commenting on ConsenSys 2.0, he further added:“It’s focusing, it’s adding rigor, it’s adding accountability, and it’s opening ConsenSys up more to the world.”ConsenSys to Partner with SK Holdings C&C for Blockchain HubThe aim of ConsenSys is to develop decentralized software services and applications that operate on the Ethereum blockchain. Recently, the company partnered with SK Holdings C&C, the information technology solutions unit of South Korea’s SK Group.As a result of the partnership, the two companies will work on building an enterprise blockchain business model utilizing “smart contracts” among designated entities. The solutions provided will include a logistics blockchain service for shipping firms, a blockchain-based voting solution, and a Ripple-based cryptocurrency launch service platform.Cryptocurrency as the “Natural Evolution” of MoneyConsenSys founder Joseph Lubin is renowned as an active supporter of cryptos. Just recently, he said cryptocurrency is the “natural evolution” of money. Lubin believes that decentralized tools will help to achieve better dissemination of money with the help of the most advanced technologies and, moreover, thanks to these new networks we will accept higher standards for transferring funds, including new security and speed standards.Speaking of the current market slump, he said Bitcoin and blockchain aren’t going anywhere, and cryptos have a promising future.Bearish Crypto Market Makes Ethereum’s ConsenSys Eliminate Underperforming Projects

13 days ago

Crypto Bear Market Makes Ethereum’s ConsenSys Eliminate Underperforming Projects

CoinSpeaker Crypto Bear Market Makes Ethereum’s ConsenSys Eliminate Underperforming Projects ConsenSys, the New York-based blockchain startup backed by Ethereum, is reorganizing. Such an announcement has been made by ConsenSys CEO and Ethereum co-founder Joseph Lubin. Lubin wrote: “We must retain, and in some cases regain, the lean and gritty startup mindset that made us who we are. We now find ourselves occupying a very competitive universe...We must recognize that what got us here will probably not get us there, wherever ‘there’ is.” The move marks the entrance of the startup to a new phase called ConsenSys 2.0. According to ConsenSys, this phase will be marked by greater efficiency, accountability, and attention to revenue. The company will eliminate underperforming projects, and the emphasis will be on creating tangible value. Lubin stated: “In ConsenSys 1.0, we built a laboratory instrumented to prove the moon existed, using complex engineering and math and creative philosophical arguments. Now, we need a streamlined rocket ship to get us there, since the actual proof, ultimately, is in the landing.” The ConsenSys staff learned about the initiative last Friday. In his letter, Lubin congratulated everyone for contributing to the startup’s development and dedication to “a technology and an ethos that many of us believe will profoundly reshape human society over time.” Further, Lubin said that currently, staff layoffs are not planned, but he wouldn’t rule it out in the future. In 2017, there was a boom in crypto assets, which partly contributed to the development of ConsenSys. Since February, the company’s workforce has doubled to more than 1,100 people, spread across 29 countries, and much of that growth was funded by Lubin himself. Through it all, ConsenSys has held fast to a unique business model that prizes decentralization, worker autonomy, and project variety over efficiency. However, changes and improvements should take place continuously for any company to thrive. And ConsenSys has found a way to ginger up its activity. In a new phase of development, projects will be judged on three metrics: revenue, or return on investment, benefit to the Ethereum ecosystem, and social good, for which the means of assessment are still being determined. Lubin said: “We’re going to get a lot more rigorous in terms of milestones and timetables, even if that means dissolving projects if we’ve come to the conclusion that our earlier assumptions were incorrect.” Commenting on ConsenSys 2.0, he further added: “It’s focusing, it’s adding rigor, it’s adding accountability, and it’s opening ConsenSys up more to the world.” ConsenSys to Partner with SK Holdings C&C for Blockchain Hub The aim of ConsenSys is to develop decentralized software services and applications that operate on the Ethereum blockchain. Recently, the company partnered with SK Holdings C&C, the information technology solutions unit of South Korea’s SK Group. As a result of the partnership, the two companies will work on building an enterprise blockchain business model utilizing “smart contracts” among designated entities. The solutions provided will include a logistics blockchain service for shipping firms, a blockchain-based voting solution, and a Ripple-based cryptocurrency launch service platform. Cryptocurrency as the “Natural Evolution” of Money ConsenSys founder Joseph Lubin is renowned as an active supporter of cryptos. Just recently, he said cryptocurrency is the “natural evolution” of money. Lubin believes that decentralized tools will help to achieve better dissemination of money with the help of the most advanced technologies and, moreover, thanks to these new networks we will accept higher standards for transferring funds, including new security and speed standards. Speaking of the current market slump, he said Bitcoin and blockchain aren’t going anywhere, and cryptos have a promising future. Crypto Bear Market Makes Ethereum’s ConsenSys Eliminate Underperforming Projects

13 days ago

Welcome, Ethereum Classic! Now, fully live in the Ethos Univ...

Welcome, Ethereum Classic! Now, fully live in the Ethos Universal Wallet! Update your Universal Wallet in the app s… https://t.co/KR26CBl6Cj

15 days ago

Enter the Lamborghini Raffle for 0.00057 BTC While Helping Charity

Dunstan Low is giving people the chance to win a Lamborghini for just EUR 2, around BTC 0.00057, by taking part in his raffle. Not only that, the winner will be able to donate 2% of the funds raised to a local charity of their choice. Yes, the Lamborghini is a nod to every cryptocurrency investor’s infamous dream. ”It’s a lighthearted way to get started,” Low told Bitcoin News, saying it’s important for him to establish trust with cryptocurrency users before he tackles more difficult issues through his raffles, which he certainly intends to. ”There are a lot of house raffles with more difficult stories and unfortunate circumstances that I want to help in the future, but feel that we need to establish trust in the first instance,” he said. Why offer a crypto payment option? Participants can enter the raffle using Bitcoin, Litecoin and Ripple among other cryptocurrency options. After following the digital currency revolution for several years, the idea of taking power away from institutions and giving it back to the people very much appealed to Low. ”I’m actively involved in developing a few business models that build on the raffle concept more like a decentralized method of crowdfunding that focuses on the social role and circular economies. At this point, the raffle model shares ideas with these broader and more ethos based works whilst providing a fun and new opportunity for people,” he explained. Given this framing, a cryptocurrency raffle is Low’s ideal scenario. While there are plans to add fiat payment support, he would prefer to avoid traditional models and existing banking infrastructure as much as he can. The website enlists payment gateway Coingate to facilitate transactions, which Low says has proven easy compared with standard payment providers. He noted ”I would highly recommend the option, it’s just so revolutionary and gives you a fuzzy feeling when a payment arrives and it hasn’t touched a bank.” Participants can also check the website for details on how to enter the raffle for free by post. Provably fair, how? Several questions have been raised over how it can be proven to be a completely fair raffle. The draw of Low’s last raffle (detailed below) was conducted by a Google random number generator on a random journalist phone, with the button pressed by a solicitor while around 30 journalists filmed the moment. ”We are currently looking at how to translate this into a provably fair draw using the blockchain, my developer is looking at the requirements and if we can make this happen. If not, we are happy at this point to use a solicitor or Gambling commission approved vendor, but blockchain is much more exciting and independent, so research is underway.” Crypto charity Low’s perspective is that cryptocurrency could be a great way to reduce costs and create transparency in the charity sector, generally benefiting any good causes. But more than that he believes cryptocurrency can provide much more robust and scalable solutions to solve broader problems in terms of social wellbeing, healthcare, housing, income, and innovation. ”I honestly believe that new economies can and will be built on the utility of cryptocurrencies with social ROI and crowdfunding as a core part of the model for democracy and economic growth,” he said. The winner gets to choose the charity this time around, but Low has plans to bypass charities in future ventures, donating instead directly to communities that help promote redevelopment and growth. Look out for more raffles from Low in the future, as he hopes to make them a regular occurrence. He told Bitcoin News: ”Hopefully we can start small and build up to holding regular raffles with a broad range of prizes from small items up to private islands, every Bitcoiner needs one with their Lambo! But seriously, we hope to scale up and reduce our overhead and create a new method to help as many good causes as possible and to eventually build outwards into potentially more interesting and nuanced models.” As he puts it, raffles are a good way to attract people to donate for good causes that may not be on their radar in a way that direct charity donations can not, even if people are just participating because they want the Lambo. How it all started In 2017 bankruptcy fears and the refusal for a new mortgage led Low to raffle off his home at GBP 2 a ticket. Maybe not the first option for most, Low devised the plan while faced with around GBP 4000 in monthly expenses with no income, and to top it off a GBP 250 per month mortgage payment increase when he requested a better deal from the bank. Low and his wife spent at least two years struggling to sell their house, even at one point listing the sale in Bitcoin to attract more buyers. ”I was lucky enough not to be divorced by my understanding wife” he joked. When his wife found out about the mortgage increase she insisted they hand back keys to the house. While agreeing with her at the time, Low took the next two days to concoc

16 days ago

Blockstream launches Simplicity - a more expressive smart contracts language

When we think of smart contracts, we usually associate them with the two major programming languages: Bitcoin’s Script and Ethereum’s Solidity. Other examples include Cardano’s Marlowe and Plutus, Tezos’ Liquidity, and plenty of other developments that serve different purposes. However, the biggest issue with these languages is that the parties which sign a smart contract must be able to comprehend and analyze all the possible outcomes that may result from the code. Furthermore, a deployed smart contract cannot be modified, so the act of signing one requires intensive deliberation and an absolute agreement between the parties. This is where Blockstream’s Dr. Russel O’Connor steps in and proposes a blockchain programming language whose functions and semantics fit on a t-shirt. The first presentation of Simplicity has been made on October 30th 2017 in anticipation for PLAS 2017 (Programming Languages and Analysis for Security), and the proposed 34-page paper cites the works of industry heavyweights such as Satoshi Nakamoto, Adam Back, Peter Todd, Vitalik Buterin, Greg Maxwell, and C.P. Schnorr (among many others). While the t-shirt may look gimmicky, it’s a great way of showcasing the functions and syntax of Simplicity. Image Credit: Blockstream The last time we heard of Simplicity was during Dr. Connor’s presentation from BPASE 2018 back in February. But this fall, Blockstream appears to be the most consistent company to release new products and services: after launching the Liquid federated sidechain and the privacy-oriented block explorer, now they have enriched their ecosystem with the addition of the source code for Simplicity. According to the latest blog post on the matter, this release includes “Denotational semantics of the core Simplicity language and its extensions formally specified in Coq, operational semantics of the core Simplicity language formally specified in Coq, an interpreter, type-checker, and serialization of the Simplicity language written in Haskell, Example Simplicity expressions, including cryptographic operations such as SHA-256 and EC-Schnorr signature verification, and a technical report detailing the Simplicity language.” Why would anyone use Simplicity? The first arguments presented by the Blockstream team involve the issues and limitations of the other programming languages: Ethereum’s EVM has recently had a failed upgrade where the implementations did not agree on the computation results, and there are instances where funds were stolen and became unrecoverable due to security breaches. Conversely, Bitcoin’s script relies on three criteria (digital signature checks, timelocks, and hashlocks) and therefore has limited expressivity. In order to overcome these shortcomings, Blockstream’s Simplicity offers a simpler syntax and semantics that are more akin to Java and Python, formal proofs of correctness to allow smart contract parties to edit certain provisions that they agree on, and a code compiler which functions without the need of Turing completeness. In other words, programming smart contracts will become a lot easier for coders who are used to basic languages, parties which find loopholes in their smart contracts can mutually come to terms to make modifications, and even more high-level languages can be compiled to Simplicity. This launch is special because the development has been moved into the open to allow other experts in the field to peer review the code and make suggestions to its improvement. In this regard, a dedicated GitHub for Simplicity has been created and the interested parties can join a mailing list. Pros and cons of Blockstream’s Simplicity Clearly, Simplicity is a useful project which brings smart contracts closer to mass adoption. It simplifies the programming language while allowing more expressivity than Bitcoin’s Script, it brings inter-operability with other languages by attempting to be a universal compiler, it allows for smart contracts to be amended in a secure way, and it’s integrated with Blockstream’s Elements platform which also opens up opportunities to develop for the Liquid Network. The research paper looks impressive and references the works of some of the biggest heavyweights of cryptography and blockchain development, and the fact that the code was released in the open is a sign that the protocol while a mailing list gets built follows the cypherpunk ethos which is paramount in this field. On the other hand, there are two types of criticism that can arise from this early phase of the project. First of all, it’s going to be interesting to see how the implementation of formal proofs of correctness actually works. Removing the immutability of smart contracts and allowing parties to make edits via consensus is a concept that is more akin to the amendments we make to real-life contracts. It’s like inserting a dollar bill into the coffee machine thinking that it’s going to cost two dollars, the coffee company wants to double the price due to

17 days ago

Hello, Italy! We are pleased to announce that Ethos has now ...

Hello, Italy! We are pleased to announce that Ethos has now been listed on @crypto_exchang - The first Italian exch… https://t.co/BDps4VXxXt

18 days ago

Ethos is excited to join @blockfolio Signal! We will use #Bl...

Ethos is excited to join @blockfolio Signal! We will use #BlockfolioSignal to share the latest company announcement… https://t.co/BSS8i83NGw

20 days ago

Po.et’s Mainnet Launch Puts Creative Content Data on the Bitcoin Blockchain

Disclaimer: The parent company of Bitcoin Magazine, BTC Media, LLC, is an affiliate of Po.et.Today, November 27, 2018, the Po.et team has taken its next step toward the verifiable web as it officially launches its proof-of-existence protocol on the Bitcoin mainnet. According to Po.et CEO Jarrod Dicker, media is a business and journalism is a product. Po.et was founded on the premise that good journalism and a profitable business model should go hand in hand. Authentic journalism, the kind that consumers can trust, is expensive to create, hard to verify, and easy to copy. “As of right now, there are several key issues at play in the media space, not least of which are attribution, intellectual property, content distribution and trust issues furthered by the current socio-political atmosphere,” said Dicker. “These are all areas Po.et is working to address.” The first application developed for Po.et was Frost, a custodial wallet available for anyone to seamlessly publish content on Po.et without having to manage the private keys associated with that content. Now that Po.et is operating on the Bitcoin mainnet, with Frost, creators can start timestamping their content directly onto the Bitcoin blockchain and claiming intellectual property for their work, which is stored on IPFS. Po.et aims to bring the creative world back to a place where content quality equates to business value, and it starts with building a verifiable web through cryptographic “claims.” What is Po.et, and How Does It Work? Po.et is a decentralized protocol for content ownership, discovery and monetization in media. It works not by utilizing its own blockchain, but by harnessing the security, immutability, and decentralization of existing protocols (specifically Bitcoin and IPFS). Po.et uses these protocols to anchor and store immutable hashes of content and metadata, known as “claims.” According to David Turner, Po.et’s head of product, claims are the “core building blocks of Po.et.” Right now, at the beginning stages of Po.et, claims store limited information about content, like who the author is, when it was published, who has reviewed it and which news outlet first published it. Addressing the ChallengesPo.et’s core team recognizes that a better web for media cannot be built overnight. Thus, they have broken down the Po.et protocol into four high-level stages: Describe, Record, Listen, and Curate. Each of these stages represents a grouping of technologies and features that make up the protocol. Po.et’s mainnet activation today begins to address the first two stages: Describe and Record. The Describe stage focuses on formatting claims in a way that is easily accessible and verifiable. The first kind of claim Po.et supports is called a “work claim” and is meant to represent a creative work. For this kind of claim, the Po.et protocol uses JSON-LD serialization, or a data format specialized in linking data together, at the core of its protocol as a way to allow for integration with other existing standards. In the future, Po.et will offer more claim options, such as claims that are sufficient for describing relationships between identities and protecting intellectual property. The Record stage is how Po.et utilizes blockchain technology to immutably reference information. The Po.et node software combines the technologies of Bitcoin and IPFS as its sources of decentralization. Specifically, it uses the Bitcoin blockchain to record hashes that reference IPFS directories. The directories Po.et uses contain claims that content creators have made, and each claim is cryptographically signed by a private key. At mainnet, Po.et is already decentralized through trusted protocols. Future improvements include possibly allowing for other decentralized file storage protocols, especially ones that allow enterprise users to leverage existing systems.Together, the Describe and Record stages make up the composition of successfully going to mainnet. "Nutrition labels" like the one above are among the many ways users might choose to display their content information in the future.What’s Next?The expectations of Po.et as a protocol are more than just where the information lives. It is about fostering the next generation of products, applications and communities in Web3. As Dicker notes:“We want to build a protocol for creativity, a place where the next generation of the web will be constructed with a focus on interoperability, reputation and ownership. By providing these core values in our protocol, applications built using this technology will enable the ethos of the better web, whether that’s through a marketplace, a wallet, the next social platform or the tools to enable a truly decentralized media economy.”In the next few weeks, Po.et will be announcing strategic partnerships and product updates tied to new applications the core team will be building on the protocol. It will also be releasing continuous documentation for developers to continue to innovat

20 days ago

In Case You Missed It: Ethos has been listed on the @Switche...

In Case You Missed It: Ethos has been listed on the @SwitcheoNetwork Exchange! Users can trade $ETHOS Tokens on the… https://t.co/W77ZDInags

21 days ago

ICYMI: In our latest App Update 1.5, we introduced Ethos Sta...

ICYMI: In our latest App Update 1.5, we introduced Ethos Status. Users can store Ethos Tokens on their Universal Wa… https://t.co/rBXI6v0kJX

22 days ago

Interview Series Part 1 of 3: Earn.com Co-Founder Lily Liu on How Blockchain is Evolving in the East and West, China’s Blockchain Strategy and Her Investing Approach

Earn.com Co-Founder Lily Liu on China’s Blockchain Strategy, How Blockchain is Evolving in the East and West, and Lily’s Investing Approach In this interview, host Joyce Yang is joined by Lily Liu, co-founder and CFO of Earn.com. Earn.com was sold to Coinbase in early 2018 in a deal worth more than $120mn, Coinbase’s largest acquisition to date. The company allowed users to send and receive digital currency for replying to emails and completing tasks. Prior to working at Earn.com, Lily was the CFO of the first foreign-funded, private, mass market hospital in China. Prior to that, she spent time working at Mckinsey and then later KKR Capstone. Lily graduated from Stanford and Harvard. In this conversation, Joyce and Lily talk about Lily’s past experience working in China and her outlook on the blockchain industry on a global level. Lily shares her views on how the crypto industry is evolving between the East and West, what China may be doing with Crypto and Blockchain, and also how she thinks about investing in blockchain globally. You can follow Lily’s Twitter here Throughout next week, we will be sharing more with our premium members of Lily’s insights on China’s Blockchain strategy, the ongoing race between public blockchain, national governments and companies, and Lily’s investment outlook. 1⃣ Lily’s hypothesis on what is happening in the Blockchain industry vs. what has happened historically to technology developments in Silicon Valley “My general thesis is that in the past, nearly every major technology trend has been owned by Silicon Valley. If you think about the core layer technology, if you just sort of break it into 3 general parts, the core Layer 1 technologies as we call it today, but if you think about that originally, silicon, was really like the sort of the base layer technology. It’s kind of down south in San Jose, let’s say. And then the business models have more or less Mountain View, Palo Alto, and then that was for example, of course, Google, Facebook, whatever else. And of course, there’s an iterative process between the business model and most of the underlying supporting technology or infrastructure. And then the consumer experiments, consumer adoption experiments more recently like Uber and Airbnb, they were all basically executed here at San Francisco. And so this whole sort of experimentation cycle all happened really within like 20-30 miles of one another. And so you can say it’s centralized, it’s vertically integrated, some people might even say it’s monopoly whatever, but it’s also efficient. And I think that’s partially driven by people’s values and preferences and their skillset. What I think is happening in Blockchain is I think if you take those three parts, I think it’s being broken apart. And so I think that the base layer of Technology is mostly being executed in the West, and that’s a big priority for Silicon Valley, and that’s what Silicon Valley really loves to invest in I think the business models are likely to come out of East Asia because in East Asia, that’s where you have very sophisticated consumer internet, companies, entire kind of ecosystems, and people are very sophisticated when it comes to various aspects of whether its e-commerce or gaming or whatever it might be. And also frankly, and I mean that really in a good way, people are a little bit more short-term greedy. And so that’s where I think you’re going to get like a faster iteration of these new business models and people will figure out, try to experiment and figure out a way to really make money with this. And I think you see a number of experiments so far. Some of them more successful than others, but there are elements in some of these experiments that are actually pretty interesting.” 2⃣ Regulations will limit US Projects from an Innovation Perspective “Now, the issue with both United States and also a place like China is that from a regulatory standpoint, they’re not so friendly. So the U.S. is going to heed to this accredited investor framework, which means that only roughly 5% of Americans are accredited investors. The rest aren’t, and so it’s going to be really hard to sell this stuff to the 95% of Americans. And then if they are deemed securities and that’s still being figured out, but if they are deemed securities, then it’s also illegal to give away these tokens to people, because people thought about this in the 90s and it’s incumbent upon the issuer to be really very disciplined about that. So people are definitely not even going to want to give it away. So there goes the airdrop idea, if they’re all securities. So essentially in the U.S, it’s not looking great when it comes to consumer adoption because you can’t sell it to most people and you can’t really give it away. And so the only sort of a couple of channels that are left in there is; one eventually will be that the Bitcoin be listed as an ETF, probably in a few years, I hope. But that’s not a massive consumer adoption channe

22 days ago

Podcast Transcript: Earn.com Co-Founder Lily Liu on How Blockchain is Evolving in the East and West, China’s Blockchain Strategy and Her Investing Approach

Checkout our Latest Podcast with Lily Liu We are delighted to bring you our latest podcast with delighted to be joined by our guest today, Lily Liu, co-founder and former CFO of Earn.com. Earn.com was sold to Coinbase in early 2018 in a deal worth more than $120mn, Coinbase’s largest acquisition to date. The company allowed users to send and receive digital currency for replying to emails and completing tasks. Prior to Earn.com, Lily was the CFO of the first foreign-funded, private, mass market hospital in China. Prior to that, she spent time working at Mckinsey and then later KKR Capstone. Lily graduated from Stanford and Harvard. In our conversation, we talked about Lily’s inside views on how crypto is evolving between the East and West, what China may be doing with Crypto and Blockchain, and also how she thinks about investing in blockchain globally. Timestamps and Topics discussed on the Podcast 1:53- Introduction to Lily Liu 2:40- Lily’s hypothesis on what is happening in the Blockchain industry vs. what has happened historically to technology developments in Silicon Valley 6:10- How regulations will limit US Projects from an Innovation Perspective 12:35- Why the preexisting frameworks for technology and product developments that Silicon Valley espoused will no longer work as well in a decentralized world 15:50- Why governments should like blockchains 18:10- China’s Blockchains Strategy 21:18- How Lily thinks about adoption and distribution for blockchain- would we eventually see a digital rivalry between Bitcoin vs Facebook vs Country blockchains 30:17- How does Lily think about investing in Blockchain in the current environment? Joyce Yang Welcome to the Global Coin Podcast. A Podcast where we hear from leading global operators and investors in crypto with their thoughts on the Asia Blockchain and cryptocurrency space. Asia is really a cryptocurrency hub, and understanding the region is as important as understanding what’s going on locally. We also have a newsletter that highlights all the important crypto news coming out of Asia with many translated by our staff directly from the local media. Check it out at [globalcoinresearch.com] I’m your host, Joyce Yang, and I am delighted to be joined by our guest today, Lily Liu, cofounder and former CFO of Earn.com. Earn.com was sold to Coinbase in early 2018 in a deal worth more than $120mn, Coinbase’s largest acquisition to date. The company allowed users to send and receive digital currency for replying to emails and completing tasks. Prior to Earn.com, Lily was the CFO of the first foreign-funded, private, mass market hospital in China. Prior to that, she spent time working at Mckinsey and then later KKR Capstone. Lily graduated from Stanford and Harvard. In my conversation with Lily, I’ve founder her to be one of the smartest, sharpest people I’ve met and I am so honored to have her on the podcast talking about her past experience working in China and her outlook on the blockchain industry on a global level. In our conversation, we talked about Lily’s inside views on how crypto is evolving between the East and West, what China may be doing with Crypto and Blockchain, and also how she thinks about investing in blockchain globally. Thanks for coming on the show Lily. Would you please our listeners a quick introduction of yourself? Lily Liu Sure. I’m Lily Liu. I most recently was CFO and co-founder of Earn.com which was acquired by Coinbase earlier this year. Previous to that, I built a big private hospital in China outside of Shanghai. And then prior to that, I worked at the KKR private equity firms and also McKinsey, which is a global consulting firm. And prior to that, I studied at Harvard and Stanford. I love talking about this stuff. I could be completely wrong, and I’m absolutely open to being completely wrong and I would love to have a debate on all these various things since I’m just trying to seek a perspective that I believe in like anyone else. Well, let’s see. What were we talking about? Well, I’ll tell you my general thesis. My general thesis is that in the past, nearly every major technology trend has been disowned by Silicon Valley. If you think about the core layer technology, if you just sort of break it into 3 general parts, the core Layer 1 technologies as we call it today, but if you think about that originally, silicon, was really like the sort of the base layer technology. It’s kind of down south in San Jose, let’s say. And then the business models have more or less Mountain View, Palo Alto, and then that was for example, of course, Google, Facebook, whatever else. And of course, there’s an iterative process between the business model and most of the underlying supporting technology or infrastructure. And then the consumer experiments, consumer adoption experiments more recently like Uber and Airbnb, they were all basically executed here at San Francisco. And so this whole sort of experimentation cycle all happened really wi

22 days ago

Snowden diz que o bitcoin é o primeiro dinheiro ‘livre’, mas é pessimista em relação ao longo prazo

Por: Livecoins Em uma entrevista publicada pela American Civil Liberties Union, Edward Snowden explica a tecnologia blockchain ao seu advogado. Um dos tópicos inevitáveis ​​da conversa é o Bitcoin, sobre o qual Snowden diz que tem um valor fundamental muito limitado, mas uma escassez muito real. Em 2013, para o desgosto do governo dos EUA, Edward Snowden quebrou as leis de sigilo de forma dramática, revelando montes metafóricos dos documentos confidenciais da NSA para o público em geral. Como explicado em várias entrevistas em seu refúgio russo, Snowden acreditava que as pessoas não deveriam ser supervisionadas incessantemente, achando lógico quebrar o gelo nas iniciativas mais engaioladas da NSA. Portanto, não é surpresa que Snowden seja fã de tecnologias blockchain e criptografia. Desde que Snowden fugiu para a Rússia em busca de asilo, ele apareceu em várias entrevistas e palestras em todo o mundo. Tendo em mente que suas visões do mundo estão em linha com o ethos e raison d’être do Bitcoin, muitos perguntaram ao ex-contratado da NSA sobre seus pensamentos sobre as tecnologias blockchain como um todo. E enquanto ele explicou brevemente suas opiniões sobre o assunto, demonstrou que sabe mais do que pode deixar transparecer. Ele não considera o bitcoin como um dinheiro privado, mas o primeiro dinheiro “livre”, porque as transações não podem ser realmente interrompidas ou revertidas, sem a participação explícita e voluntária das pessoas envolvidas. Snowden diz que a dura verdade sobre as criptomoedas é que a única coisa que lhes dá valor é “a crença da população em sua utilidade como meio de troca”. Snowden é pessimista na viabilidade a longo prazo do Bitcoin, pois ele diz que “um dia o bitcoin vai desaparecer, mas enquanto houver pessoas lá fora que queiram poder movimentar dinheiro sem bancos, as criptomoedas provavelmente serão valorizadas.” Ele ressalta que, embora a Visa e a MasterCard possam processar dezenas de milhares de transações por segundo, o Bitcoin só pode lidar com cerca de sete. Concluindo seus comentários, Snowden disse a seu advogado que o atual mecanismo de consenso do Bitcoin é falho, acrescentando que esses protocolos são “destrutivos e inclinam o jogo em favor dos ricos”, ao mesmo tempo em que acrescenta que a ascensão de blockchains pode levar a um mundo super transparente, onde tudo pode ser rastreado. Veja a entrevista completa aqui O artigo Snowden diz que o bitcoin é o primeiro dinheiro ‘livre’, mas é pessimista em relação ao longo prazo apareceu primeiro em Livecoins.

22 days ago

The Ethos Universal Wallet now supports over 143+ Tokens ful...

The Ethos Universal Wallet now supports over 143+ Tokens fully transactable in the Universal Wallet. Check out the… https://t.co/KmyPiCj8w3

24 days ago

ICYMI: Shingo answered community questions about what the fu...

ICYMI: Shingo answered community questions about what the future holds for Ethos, how we've braved the bear market… https://t.co/oqJpFEvLSV

25 days ago

In our latest article, Shingo answers the community’s questi...

In our latest article, Shingo answers the community’s questions about what the future holds for Ethos, how we've br… https://t.co/Sz4jcSvuSm

a month ago

Ethos is excited to announce our collaboration with @adbankn...

Ethos is excited to announce our collaboration with @adbanknetwork. AdBank Network has chosen Ethos as their Offici… https://t.co/0hFeq3wo80

a month ago

Magical Crypto Friends ep. 13: On Bitcoin maximalism, fungibility, and more

Since its debut, the Magical Crypto Friends show has been about busting scams and promoting the small block philosophy. However, the November 2018 episode (the thirteenth in succession) is surprisingly serious and presents the four Bitcoinists reaching points of disagreement. Also, the amount of time spent slamming ICO platforms or BTC forks is uncharacteristically small, as the focus is mainly on the state of Bitcoin and what should be done for its improvement. This topical shift may be due to the 10th anniversary of the Bitcoin Whitepaper, but reasons can also include the current status of the market in relation to technological developments. After having a lot of fun during the one-year anniversary of the show, the anthropomorphic animals get serious discussing fascinating topics about the future of Bitcoin, Litecoin, and Monero. And in this particular episode we find out that Litecoin may add confidential transactions within a few months, while Monero is much more decentralized in development than we thought. Furthermore, we benefit from debates of an almost Socratic dimension on the nature of Bitcoin maximalism and the unquestionable necessity for fungibility. The sections below describe some of the most important moments of the show. And even though it’s highly recommended to get your information from the primary sources and avoid the interpretation of third parties, you may still find important points that keep you up with the opinions of some of the most knowledgeable minds in the cryptocurrency space. Fluffy Pony, Ezekiel, and bulletproof transactions in Monero But after that, the only ongoing source of humor can be found in Fluffy Pony’s insistence to be called Ezekiel (a direct reference to Forbes Middle East, who put the face of Ezekiel Osbourne on the cover and featured an article which presented the Australian entrepreneur as the founder of Monero). Otherwise, the Monero Enterprise Alliance director of operations talks about bulletproof transactions in Monero. He mentions that bulletproofs have been on the XMR testnet since December 2017, and once they become part of the main net implementation they reduce transaction sizes by 80-90%. The result can also be seen in transaction fees. When Charlie Lee inquires about downsides of this upgrade, Mr. Spagni is confident enough to deny the existence of any issues. According to his expertise, bulletproof transactions follow the same security model as the original Monero architecture, but contribute with efficient data compression. Whale Panda is curious to know if this technology is to be used on Bitcoin, but Fluffy Pony quickly replies that BTC doesn’t use confidential transactions and won’t get this type of upgrade. On the other hand, Blockstream’s Liquid Network is eligible to use bulletproofs - and thanks to this mention, it’s jokingly implied that Mr. Spagni would receive a special bonus from the premium tech giant which supports the development of BTC. Watch Magical Crypto Friends Episode 13: Proof-of-Ezekiel. In this episode: Bulletproofs! (on $XMR), @wasabiwallet + privacy, toxic Bitcoin Maximalism, "Decentralized" exchanges & 10 years Bitcoin white paper @SatoshiLite @fluffypony @Excellion @WhalePanda https://t.co/cS7yX4W3qf — Magical Crypto Friends (@magicalcrypto) November 16, 2018 Lightning Network in Monero Monero is the third big cryptocurrency project to receive Lightning support, and Riccardo Spagni reveals that there are Tari Labs developers who collaborate with Matt Corallo in order to make this plan come to fruition. Nevertheless, the addition of the second-layer settlement network isn’t an emergency for the privacy-focused coin, and the implementation will only be made after rigorous testing and in a moment when the technology is mature enough to ensure uncompromising security. In terms of primitives, XMR has multi-sig and lock times, but lacks in the payment channels department. Yet according to Fluffy Pony, the addition is simple in terms of implementation. He also praises the fundamental technology of Lightning Labs is terms of modularity and maintainability just before dealing with a joke about Blockstream and how Liquid is a Jack of all trades. EOS, Ethereum, and immutability The joke about Liquid’s capabilities inadvertently lead to a comparison with EOS. It’s mentioned that Daniel Larimer’s latest project was proclaimed not to be a blockchain due to its lack of immutability, and Fluffy Pony adds that the research was basically conducted by the Ethereum Foundation in order to slam the competition. There is a subtle irony in this situation, as ETH is the result of the DAO bailout which concluded with a hard fork to roll back the blockchain. Whale Panda takes the situation a little further by suggesting that consensus is a fluid concept just like genders. The response is equally ridiculous and hilarious: “Consensus was inside of us all along” - Fluffy Pony, 2018. Yet Samson Mow manages to push the envelope to a greater exten

a month ago

We are pleased to announce that Ethos has been listed on the...

We are pleased to announce that Ethos has been listed on the @SwitcheoNetwork Exchange! Users can trade $ETHOS Toke… https://t.co/5rjht4spT7

a month ago

Jimmy Song proves Faketoshi’s signature is (unsurprisingly) fake

The BCH hash wars have left very little room for reasonable fact-based debates. As it turns out, the two combating factions, ABC and SV really like to make use of appeal to authority. It’s a little logical fallacy which fools short-sighted investors - otherwise why would anyone bother to use it? On one side, we have those who own most of the Bitcoin Cash infrastructure and repeat every five minutes that they want to bring more financial freedom to the world. The other camp is led by Craig S. Wright, the self-proclaimed Satoshi Nakamoto who likes to act like a destructive Old Testament deity. Arguably, none of these factions represent the principles that Bitcoin really stands for, as they diminish the decentralization factor. But this doesn’t stop some combatants to get extra creative. On November 16th 2018, the @Satoshi Twitter account has posted an interesting cryptographic message. It basically read “Sig (Rx, S) for Message H(m) Rx: 97921318692748166969765893503724782362221860890089306445657980140065784098104”. The interpreted meaning behind this signature is “I am Satoshi, I’m still alive and well, and I want to send you all a message”. In reality, this proved to be nothing but a tactic that BCHSV proponents use in order to justify their “Satoshi’s Vision” divergent approach. Due to content similarities, it’s suspected that Craig S. Wright himself is behind the @Satoshi account (which has been suspended in the meantime). Justice. pic.twitter.com/jsDc0SePOd — Dr Craig S Wrong (@ProfFathead) November 17, 2018 To make this situation even more ridiculous, BCH investor Calvin Ayre has written a speculative tweet to support the angry Satoshi hypothesis. However, Mr. Ayre has adjusted the narrative to fit the ongoing hash wars: “Satoshi lives and is likely upset at Bitmain and Bitcoin.com for attacking Bitcoin”. For the sake of common sense and cryptographic decency, Jimmy Song came to the community’s rescue with a Medium blog post. In a nutshell, the Programming Blockchain educator and Bitcoin developer applies to “Don’t trust, verify” ethos by debunking the myth with mathematical evidence. Craig S. Wright (Faketoshi) gets busted by Jimmy Song Since his emergence in the world of Bitcoin in 2015, CSW (also referred to as “Faketoshi”) has constantly claimed to be Satoshi Nakamoto. He’s even managed to fool Gavin Andresen (at the time the most important Bitcoin developer), and he kept on gaining (undeserved) credit and recognition. Mr. Wright has spoken at big conferences alongside influential crypto developers, and in the meantime, he admirably resisted the fraud allegations (while dodging challenging debates). When the Bitcoin community split in 2017, Craig S. Wright received a false prophet role in BCH. This move was meant to bring more legitimacy to the big block project, as people fell for the Satoshi narrative. But in the long run, he ended up dividing the community and meddling with the plans of Roger Ver and Jihan Wu. It’s no surprise that the Bitmain co-founder is the proponent of an unpopular conspiracy theory which claims that CSW is a Blockstream spy. From the very beginning I have had a conspiracy theory that CSW is a spy controlled by Blockstream. — Jihan Wu (@JihanWu) November 8, 2018 But this time, it’s likely that CSW has bought the @Satoshi Twitter handle for the sake of spreading Bitcoin FUD and SV propaganda. Lately, he hasn’t been shy in threatening the communities of BTC and BCH with costly hash wars that would bring down the market for extended periods of time. Oh. And @JihanWu and @rogerkver selling... they will also have to sell BTC to pay rented hash. If this is a long war... expect 2014 prices in BTC... think what that does... Have a nice day — Dr Craig S Wright (@ProfFaustus) November 14, 2018 To unknowledgeable outsiders who don’t know anything about cryptography, coding, and mathematics, Craig S Wright can look like an eccentric polymath with destructive and vengeful intentions. But to people like Jimmy Song, Andy Poelstra, Greg Maxwell, and Pieter Wuille, he is nothing but a con artist who makes big claims that he can’t back up. Jimmy Song’s demonstration As a social scientist who never really was good at mathematics, I don’t find Mr. Song’s mathematical approach (or the supposed signature of Satoshi, for that matter) easily comprehensive. Therefore, in the spirit of the verification ethos, there is no way I can personally certify for the correctness of the mathematical demonstration. Nevertheless, it’s enough to look at the intentions of the actors involved to figure out who acts in good faith: Faketoshi and Calvin Ayre are in the middle of a hash battle that they will most likely use and require all the appeal to authority in order to compel the bystanders to pledge allegiance to their cause. On the other hand, Jimmy Song and all the other Bitcoin developers don’t have a clear stake in the BCH narrative and their best interest here would be to protect the legacy of Satos

a month ago

Roel Wolfert: ‘Cryptocurrency Will Just Be a Normal Part of Life’ [Interview]

Bitcoinist recently caught up with Roel Wolfert, co-founder of WHIRL, a socially driven crowdfunding platform built on the blockchain. Roel Wolfert is an expert in digital payments and serves as the COO at Transtrack International, which provides software to banks, governments, and organizations to manage their cash supply chain. Wolfert is also an advisor to the Bancor Foundation, which manages the largest decentralized liquidity network in the world, BeamWallet, the UAE’s largest mobile wallet, and Genexi, a biochain blockchain startup. Furthermore, he is Senior Vice President Consulting & Analytics services at Visa Europe. Wolfert is actively involved in tech mentoring and diversity initiatives — so we decided to pick his brain on WHIRL and the future of the blockchain and cryptocurrency markets. Bitcoinist: WHIRL is a socially driven, pay-it-forward crowdfunding platform that’s built on the blockchain. What differentiates WHIRL from other crowdfunding platforms? Several factors. Firstly, you only get to launch a campaign if you have already contributed to others. The number you have supported and the funds you have pledged increase your Karma, which makes you eligible to start a campaign of your own. So you know that anyone who asks for funding has already ‘paid their dues’ upfront. Secondly, there’s only a limited number of campaigns that are active at any given time. That means there’s limited competition for supporters’ funds, rather than the normal situation where a large number of campaigns compete for the same pool of money - frequently meaning that none are adequately backed. Add to this the fact we’re a crypto-based platform that operates across the world, the dramatically lower fees our users enjoy compared to those of conventional platforms like Kickstarter (fees from the platform itself, payment processor and withdrawals, taxes etc can easily total 20% of the money raised), and the large number of cryptocurrencies we accept, and that makes WHIRL absolutely unique and a very powerful proposition. Bitcoinist: WHIRL brings the entire community’s attention on only a few active campaigns at once. Does this mean that the WHIRL platform isn’t decentralized? Who determines which campaigns are focused on? Campaigns go into a transparent queue, based on the order in which they are submitted. Only community members who have enough Karma - i.e., who have supported enough campaigns in the past - can launch their own project. So the process is very straightforward, programmatic even. There isn’t a way to game it, since you have to prove your ‘worth’ by backing other campaigns before you start your own. Ultimately this makes WHIRL very different, both in terms of the dynamics of the platform but, more importantly, the kind of community and ethos we are seeking to cultivate. Bitcoinist: By using blockchain technology, we may assume that all crowdfunding on the platform is transparent and accounted for? Who moderates everything? We do have a moderation process that is intended to filter out projects that would be illegal in many jurisdictions, or otherwise problematic in some way - for example, we don’t allow members to launch drug or adult-themed campaigns, or those with a political or religious goal. But other than that, eligible projects go straight into the transparent queue, so everyone knows where they stand and which campaigns are coming up next for funding. Bitcoinist: Which cryptocurrencies does WHIRL support for crowdfunding campaigns? Do you have plans to add more in the future? If so, which ones? We currently support 12 cryptocurrencies: ADA, BCH, BTC, DASH, EOS, ETH, KICK, LTC, USDT, XRP, XML, and WRL (our own WHIRL token). This alone sets us apart from other crypto crowdfunding platforms, and integrating this many currencies is a testament to our developers’ talent and experience. We’re looking to add more soon, and we’ll also be including fiat deposits as soon as possible. Bitcoinist: Tell us how the WRL token fits into the platform. What is the benefit for WRL investors or holders? What’s the difference between WRL and Karma points? Karma is an internal scoring mechanism. It’s not a currency: you can’t transfer or exchange it. It’s tied inextricably to your user account, and you earn more of it when you back a campaign based on the dollar value of your contribution and other factors. WRL is a crypto token, initially hosted on Ethereum but with the intention that we’ll move to EOS in due course. As our internal token, contributions made with WRL will be worth more in terms of Karma than other currencies - you’ll get a ‘WRL premium’ on your Karma score. As a result, we expect greater liquidity and velocity for WRL, and our most active platform users will probably use WRL exclusively or predominantly. For investors, WRL will be in demand as that desirable currency. Additionally, we will be taking a small fee in WRL for each campaign, and some or all of those tokens will be burned - decreasing

a month ago

Ethos is proud to be the Official Wallet of @adbanknetwork &...

Ethos is proud to be the Official Wallet of @adbanknetwork & $ADB Token! A revolutionary advertising platform, crea… https://t.co/QzHUQvDc29

a month ago

Podcast Transcript Part 1: Earn.com Co-Founder Lily Liu on How Blockchain is Evolving in the East and West, China’s Blockchain Strategy and Her Investing Approach

Checkout our Latest Podcast with Lily Liu We are delighted to bring you our latest podcast with delighted to be joined by our guest today, Lily Liu, co-founder and former CFO of Earn.com. Earn.com was sold to Coinbase in early 2018 in a deal worth more than $120mn, Coinbase’s largest acquisition to date. The company allowed users to send and receive digital currency for replying to emails and completing tasks. Prior to Earn.com, Lily was the CFO of the first foreign-funded, private, mass market hospital in China. Prior to that, she spent time working at Mckinsey and then later KKR Capstone. Lily graduated from Stanford and Harvard. In our conversation, we talked about Lily’s inside views on how crypto is evolving between the East and West, what China may be doing with Crypto and Blockchain, and also how she thinks about investing in blockchain globally. This is part 1 out of the 2 transcript, which will be posted later this week. Timestamps and Topics discussed on the Podcast 1:53- Introduction to Lily Liu 2:40- Lily’s hypothesis on what is happening in the Blockchain industry vs. what has happened historically to technology developments in Silicon Valley 6:10- How regulations will limit US Projects from an Innovation Perspective 12:35- Why the preexisting frameworks for technology and product developments that Silicon Valley espoused will no longer work as well in a decentralized world 15:50- Why governments should like blockchains 18:10- China’s Blockchains Strategy 21:18- How Lily thinks about adoption and distribution for blockchain- would we eventually see a digital rivalry between Bitcoin vs Facebook vs Country blockchains 30:17- How does Lily think about investing in Blockchain in the current environment? Joyce Yang Welcome to the Global Coin Podcast. A Podcast where we hear from leading global operators and investors in crypto with their thoughts on the Asia Blockchain and cryptocurrency space. Asia is really a cryptocurrency hub, and understanding the region is as important as understanding what’s going on locally. We also have a newsletter that highlights all the important crypto news coming out of Asia with many translated by our staff directly from the local media. Check it out at [globalcoinresearch.com] I’m your host, Joyce Yang, and I am delighted to be joined by our guest today, Lily Liu, cofounder and former CFO of Earn.com. Earn.com was sold to Coinbase in early 2018 in a deal worth more than $120mn, Coinbase’s largest acquisition to date. The company allowed users to send and receive digital currency for replying to emails and completing tasks. Prior to Earn.com, Lily was the CFO of the first foreign-funded, private, mass market hospital in China. Prior to that, she spent time working at Mckinsey and then later KKR Capstone. Lily graduated from Stanford and Harvard. In my conversation with Lily, I’ve founder her to be one of the smartest, sharpest people I’ve met and I am so honored to have her on the podcast talking about her past experience working in China and her outlook on the blockchain industry on a global level. In our conversation, we talked about Lily’s inside views on how crypto is evolving between the East and West, what China may be doing with Crypto and Blockchain, and also how she thinks about investing in blockchain globally. Thanks for coming on the show Lily. Would you please our listeners a quick introduction of yourself? Lily Liu Sure. I’m Lily Liu. I most recently was CFO and co-founder of Earn.com which was acquired by Coinbase earlier this year. Previous to that, I built a big private hospital in China outside of Shanghai. And then prior to that, I worked at the KKR private equity firms and also McKinsey, which is a global consulting firm. And prior to that, I studied at Harvard and Stanford. I love talking about this stuff. I could be completely wrong, and I’m absolutely open to being completely wrong and I would love to have a debate on all these various things since I’m just trying to seek a perspective that I believe in like anyone else. Well, let’s see. What were we talking about? Well, I’ll tell you my general thesis. My general thesis is that in the past, nearly every major technology trend has been disowned by Silicon Valley. If you think about the core layer technology, if you just sort of break it into 3 general parts, the core Layer 1 technologies as we call it today, but if you think about that originally, silicon, was really like the sort of the base layer technology. It’s kind of down south in San Jose, let’s say. And then the business models have more or less Mountain View, Palo Alto, and then that was for example, of course, Google, Facebook, whatever else. And of course, there’s an iterative process between the business model and most of the underlying supporting technology or infrastructure. And then the consumer experiments, consumer adoption experiments more recently like Uber and Airbnb, they were all basically executed here at San Fra

a month ago

Ethos (ETHOS) Launches Ethos Status, Its New Staking Feature

The Ethos (ETHOS) team recently took to their Twitter feed to introduce their new staking feature: “Introducing Ethos Status, now available on the latest version of the Ethos Universal Wallet 1.5. Users can store Ethos Tokens on their Universal Wallet to claim their status and unlock power features in the app.” Users can obtain badges and unlock enhanced features in the wallet based on their status level, including things like discounted rates on exchange and fiat gateway functionalities. The status levels range from Shrimp to Whale, with a corresponding badge for each level. (JF)

a month ago

Introducing Ethos Status, now available on the latest versio...

Introducing Ethos Status, now available on the latest version of the Ethos Universal Wallet 1.5. Users can store Et… https://t.co/bYmUuvUN5R

a month ago

Ethos has just released our latest update to the Universal W...

Ethos has just released our latest update to the Universal Wallet yet, release 1.5. In this article, we highlight t… https://t.co/ZnwlQ1fmaa

a month ago

We’ve officially released our new Update 1.5 to the Ethos Un...

We’ve officially released our new Update 1.5 to the Ethos Universal Wallet. The update is now live on iOS and rolli… https://t.co/F04xOmKaw0

a month ago

Crypto Savant: Bitcoin (BTC) Is The “Medicine You Need”

Saifedean Ammous: Bitcoin Is “The Hardest Money Ever Created” Although the crypto market has recently undergone a downturn, with the aggregate value of all digital assets falling by upwards of 12% and XRP temporarily ousting Ether, analysts have maintained their long-term belief in the Bitcoin Network. Image Courtesy of CMC Speaking with The Express U.K., Saifedean Ammous, a long-time crypto believer and economics professor, explained that BTC is the “hardest money ever created.” likely touching on the decentralized nature and the fixed/predictable issuance system that the world’s first blockchain enlists. Ammous, who authored the now-world-renowned The Bitcoin Standard: The Decentralised Alternative to Central Banking, explained that Bitcoin’s scarcity and fixed issuance schedule has allowed it to “appreciate by about 700 million percent,” from a near-worthless line of data to an asset that goes for upwards of $5,000 a pop. He also explained that Bitcoin’s other unique features, which exemplify decentralization and the power of consumers, have allowed for the network to succeed, even against all the odds. The professor, who likely leans towards the Austrian economics camp, explained that this “upstart autonomous decentralized software,” Bitcoin, facilitates a borderless, uncensorable, and ultimately an unstoppable alternative to centralized banking and finance systems. At put by Ammous, “Bitcoin is not the toy you want, it is the medicine you need,” likely alluding to the theory that the arrival of BTC in the mainstream will wake up the “sheep” of the world, as it were. Furthering his point that BTC is necessary, if not mandatory, the professor noted that the network and its native digital asset “are here to stay,” adding that it kicks the “ass” of every other money, solely due to the fact that its supply is predictable. Moreover, what sets the asset apart is that its value is completely dependent on market factors, not government intervention or cards played by centralized authorities and entities. All these aforementioned factors, makes Bitcoin, as Ammous put it, an “all-conquering juggernaut of economic incentives,” maintaining the sentiment put forth in his aforementioned crypto-centric primer of a novel. Again, encompassing the ethos of the blockchain-based currency in a few short, yet powerful words, the Lebanese American University professor explained: The point is: bitcoin, in terms of its design and monetary policy, has a very unique property which is that it is the first monetary asset we’ve ever had whose supply is completely unresponsive to demand. While he didn’t give a clear short-term prediction, the sentiment that he put forth evidently indicates that he expects for BTC to succeed over the long haul, even though some governments have been hesitant to accept it on the regulatory stage. Image Courtesy Of Icons8 Team via Unsplash The post Crypto Savant: Bitcoin (BTC) Is The “Medicine You Need” appeared first on Ethereum World News.

a month ago

Hey Ethos Community! Today marks the final 24-hours to get i...

Hey Ethos Community! Today marks the final 24-hours to get in your vote for Round 1 of our Vote for Tokens campaign… https://t.co/7g74sUDutL

a month ago

IMF: Governments and Banks Should Setup and Control Their Own Cryptocurrencies

Speaking at the Singapore Fintech Festival this week International Monetary Fund head, Christine Lagarde, said that governments and central banks should work towards setting up their own digital currencies. Centralization, Control and Regulation Recommended She added that a central bank regulated system could become the starting point for rapid expansion into developing economies, reaching some of the world’s poorest without the risks of privately managed blockchains and cryptocurrencies. The crypto community is likely to eye this approach with caution since the ethos of cryptocurrencies is decentralization from the mainstream banking system. Earlier this week that centralization was clearly demonstrated when the US forced independent European financial services provider, SWIFT, to stop serving Iran, crippling its international banking options. Additionally a bank’s involvement is likely to slow down transactions and increase their costs, to the profit of the bank, again which totally against the purpose of public cryptocurrencies. Lagarde added that the banks could take over the handling of transactions while the private sector would offer additional services to clients. “The advantage is clear. Your payment would be immediate, safe, cheap, and potentially semi-anonymous. And central banks would retain a sure footing in payments. In addition, they would offer a more level playing field for competition, and a platform for innovation. Meanwhile your bank or fellow entrepreneurs would have ensured a friendly user experience based on the latest technologies,” She said before adding “Putting it another way. The central bank focuses on its comparative advantage - back-end settlement - and financial institutions and start-ups are free to focus on what they do best - client interface and innovation. This is public-private partnership at its best.” Blockchain can offer a number of advantages over the existing banking system such as immutability, speed and cost savings, and anonymity. The latter point, however, is a concern for the IMF and central banks who strive to keep a vice-like grip of control over the flows of the world’s finances. According to the Guardian, Lagarde said that many are still wary of using banks which can profit from transaction data in addition to the transaction fees themselves, as well as being tracked by third parties. Digital cash would be preferable but she reiterated that the central banks should retain control to prevent theft and criminal activity. To wrap up the IMF boss emphasized that the world is now a digital one stating that the ‘town square’ was now on a screen on our smartphones. “Money itself is changing. We expect it to become more convenient and user friendly, perhaps even less serious looking,” she said. “We expect it to be integrated with social media, readily available for online and person-to-person use, including micropayments. And, of course, we expect it to be cheap and safe, protected against criminals and prying eyes.” The message was pretty clear, yes we want digitization and cryptocurrencies, but we do not want you, the people, controlling it - leave that to the banks and governments. Image from Shutterstock The post IMF: Governments and Banks Should Setup and Control Their Own Cryptocurrencies appeared first on NewsBTC.

a month ago

Tim Draper Stays Bullish on Bitcoin, Markets See Green

Cryptocurrency, Bitcoin (BTC)-Cryptocurrency advocate and Bitcoin bull Tim Draper has remained true to his nature by sticking with his prediction that BTC will reach $250,000 by the year 2022. Speaking during a panel discussion at the Web Summit conference on November 6, Draper reiterated his stance that BTC, despite 2018 being a down year for cryptocurrency, will achieve a valuation of a quarter million dollars by the end of 2022. Draper originally proposed the prediction back in April of this year, in the midst of a market slide but not to the current degree of loss experienced by Bitcoin and the altcoin market. Draper’s comments at the time were self-aware, with the venture capital investor admitting that most people would look at his figure with skepticism, “Believe it, it’s going to happen - they’re going to think you’re crazy but believe it, it’s happening, it’s going to be awesome!” While many have looked upon Draper’s position as hyping the currency he is most bullish about, he has managed to correctly predict BTC price movement in the past. In 2014, when the price of BTC crashed from above $1100 to below $320, similar to the current precipitous fall in value experienced throughout 2018, Draper remained bullish on the original cryptocurrency and made the prediction that BTC would surpass $10,000 by the end of 2017-a claim that was proven true in November of last year. When asked at the Web Summit earlier this week about how he viewed his $250k prediction in light of the crashing crypto markets which are only just beginning to stabilize in price, Draper held to his belief that Bitcoin would find a way to gain exponential leaps in market capitalization over the next four years, “Yes. We are talking about five percent market share to get to $250,000. That seems like a drop in a bucket and all we need to really do is make it so that Bitcoin can be used to buy Starbucks coffee, and all of a sudden the world just opens up and then they say ‘I’ve got this choice.’ Do I want a currency that I can take from country to country or do I want one that sticks me in one country or one geographic area and I can’t use it anywhere else?” Draper went on to take digs at traditional fiat currencies, calling them “political currencies” and questioning whether they had place in a world where crypto could make them obsolete. Calling upon the libertarian and decentralized values so entwined with the ethos of cryptocurrency, Draper took a jab at the U.S. dollar and other fiat currencies, saying, “Why do we even trust currencies that are determined by some weird political party or another?” In addition, Draper pointed out the problematic aspect of free-printing by banks and governments, and how they could take value from a currency at any point-a reality that has become all too familiar for citizens of Venezuela struggling to get by under the crushing inflation of the bolivar. In Draper’s eyes, the emergence of cryptocurrency provides an apolitical currency molded by a free market that allows money to be in control of common people, as opposed to banks. Already we have seen the impact of cryptocurrency in a landscape with a non-functioning currency, as more and more people turn to DASH and Bitcoin as a more stable and usable alternative to their native currency destroyed by inflation and the incompetence of their government’s fiscal policy. The post Tim Draper Stays Bullish on Bitcoin, Markets See Green appeared first on Ethereum World News.

a month ago

Want to get plugged into Ethos updates and announcements in ...

Want to get plugged into Ethos updates and announcements in real time? Bring your questions and meet our very activ… https://t.co/C67eldUl0d

a month ago

Why Are Novogratz, Fidelity, And Bakkt Banking On Institutional Crypto Investors?

It goes without saying that Galaxy Digital, a digital asset-centric merchant bank, has been beaten and bruised in recent months. Months ago, to remain coherent with its appearance on the Toronto Stock Exchange, the startup was required to divulge its Q1 balance sheet, which wasn’t pretty, to put it lightly. However, the Galaxy’s top brass have seemingly remain undeterred, setting its scopes on new sectors in crypto to maintain its hegemony. Novogratz’s Galaxy Digital Sets Its Scopes On Wall Street Just recently, NewsBTC reported that institutionally-sourced capital has continued to flow into this industry’s coffers en-masse, even in spite of the cryptocurrency market’s retail drought. Alex Kruger, a well-respected market researcher, claimed that $5.9 billion of Wall Street capital directly entered into digital assets, amounting to 2.8% of the aggregate value of all cryptocurrencies. And, with an exclusive from The Block, it has become apparent that this swelling subset of investors hasn’t gone unnoticed, with Mike Novogratz’s Galaxy Digital recently undergoing a surprising shift to appeal to institutions. On Friday, Galaxy Digital, releasing a public statement, revealed that two of its biggest names would be leaving the firm, which would coincide with the shutdown of its Vancouver office. The Block corroborated this claim, while also consulting with its insider sources to reveal that an additional three executives had threw in the towel at Galaxy. While some were rightfully perturbed by this abrupt alteration, what went under the noses of many was the following segment of Galaxy’s announcement: “The Company is adapting to the regulatory framework and the opportunities it is currently seeing, and therefore repositioning its Advisory business from focusing on small ICO advisory and blockchain consulting to instead serve larger, more institutional clients in the space.” This, interestingly, lines up with previous reports and the public’s sentiment on the current state of initial coin offerings (ICOs). One such report claimed that a mere 19% of TGE survey respondents were confident about the ICO space. Likely doing research on the matter themselves, it is likely that as the ICO market collapses and the non-retail cryptosphere booms, Galaxy Digital has thought it advantageous to entice and beckon institutional clients in. Still, while its shift to target institutions was made crystal clear, it remains to be seen what measures the company will enlist to allow itself to flourish. Crypto’s Holy Grail — Institutional Investors Galaxy Digital’s ambition to target institutions underscores a rapidly growing theme in this industry, which is the establishment of products, services, and platforms aimed at Wall Street’s hotshots and high net-worth individuals. This underlying shift, as alluded to earlier, has been catalyzed by the growing number of institutions and corporations expressing interest in this space. Moreover, some industry insiders have even become convinced that institutional investors have become crypto’s holy grail, resulting in startups aiming its barrels at Wall Street. In mid-October, Boston-based Fidelity Investments, one of America’s largest financial bodies, revealed that it would be launching a crypto subsidiary after dabbling in this industry for four years. Fidelity, who dubbed its subsidiary “Fidelity Digital Asset Services,” currently has ambitions to launch top-notch cryptocurrency custody along with trade execution for its 13,000 institutional clients. Speaking on his excitement for Fidelity’s proposed custody solution, Novogratz told Bloomberg: “One of the things that will get institutional investors involved in crypto is custody solutions... And Fidelity is coming out with a world-class custody solution that is aimed at institutions, so that’s a box that gets checked and [that is] something that gets taken [an institution’s] list.” But, Fidelity’s digital asset-focused service is still months away, so for now, all eyes are on Bakkt’s December 12th launch, which will see the first physically-backed Bitcoin (BTC) futures contract go live. However, despite the aforementioned strides, some remain unconvinced that institutions will be in this nascent industry’s future. Speaking at Lisbon’s Web Summit 2018, Nikolay Storonsky, CEO of Revolut, explained that interest from “big institutional investors” isn’t present. Then, furthering his narrative, claimed that banks will be doubtful to foray into this space, subsequently adding that these players won’t drive crypto’s next move to the upside. Jackson Palmer, the founder of Dogecoin, echoed Storonsky’s skepticism regarding institutional involvement, issuing an insightful op-ed piece and accompanying video titled, “Why ‘the institutionalization of cryptocurrency’ is a paradox.” Arguing against the arrival of the aforementioned class of investors, Palmer, who is a prominent software developer at Adobe, claimed that this crypto’s newest startups, such as

a month ago

Catch Ethos CEO Shingo Lavine & the aXpire team on Ted D...

Catch Ethos CEO Shingo Lavine & the aXpire team on Ted Danson's The Advancements TV Series. It airs this Sunday, No… https://t.co/qMu8Phnis9

a month ago

ODEM, a Blockchain-Fueled Education Startup, Looks to Strengthen Its Ties with Malta

ODEM (ODE), which is a decentralized education marketplace, is up by double-digits while the broader crypto market is trading in the doldrums. ODE has advanced nearly 14% in the last 24 hours on modest volume. On Twitter, the ODEM team revealed that they recently met with Malta Prime Minister Joseph Muscat during the Blockchain Summit. The meeting unfolded for 30 minutes, during which time the ODEM team expressed their interest in strengthening their relationship with the prime minister and the blockchain in Malta. Separately, ODEM announced that it has partnered with Ethos so that users can transact in ODE in the Ethos Universal Wallet. (GT)

a month ago


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