📨 #DeCenterDaily
🇨🇳 China’s digital yuan will not be a speculative currency “like Bitcoin,” according to a People’s Bank of China (PBOC) official.
via Bitcoin.com
🦅 The U.S. Securities and Exchange Commission will make a ruling on Wilshire Phoenix’s Bitcoin exchange-traded fund (ETF) proposal by February next year.
via Cointelegraph
🤝 Institutional Bitcoin trading platform Bakkt has appointed new CEO and President.
via CoinDesk
💭 The U.S. Securities and Exchange Commission is going to revisit the term “accredited investor.”
via Modern Consensus
📈 DeFi is driving Ethereum decentralization, per ConsenSys researchers.
via Decrypt
🇨🇳 China’s digital yuan will not be a speculative currency “like Bitcoin,” according to a People’s Bank of China (PBOC) official.
via Bitcoin.com
🦅 The U.S. Securities and Exchange Commission will make a ruling on Wilshire Phoenix’s Bitcoin exchange-traded fund (ETF) proposal by February next year.
via Cointelegraph
🤝 Institutional Bitcoin trading platform Bakkt has appointed new CEO and President.
via CoinDesk
💭 The U.S. Securities and Exchange Commission is going to revisit the term “accredited investor.”
via Modern Consensus
📈 DeFi is driving Ethereum decentralization, per ConsenSys researchers.
via Decrypt
Forwarded from Minter Network
@egordeev: “A clear and simple example of how you can use blockchain in real life:
- You have an office
- There is a vending machine in there
- Every day, employees are credited with coins they can use to pay for coffee, snacks, stuff like that. Not everyone has a startup business and can spend investor money on a kitchen with endless food and drink; many pay for those things
- There is an office coin (token), and it will work only on the company’s devices. But it has a real value, and if one of the employees wants something beyond the limit, they can buy more of it. Or vice versa: sell to top up a mobile phone or pay for gas. Or transfer it to a colleague, of course
- Each charge is in the chain and can be tracked, if necessary—e.g., for statistics, reporting purposes
Below is a video that shows how it works.
Now imagine that instead of a vending machine, there are gated parking lots connected to the blockchain (each tenant has a limit); paid WiFi access points at an airport, hotel, or park (you scan, pay, and get the amount of time you’ve bought); interactive billboards (type the text, send it, and your better half sees the message), etc.
All of this can be done on a simple Raspberry Pi board and a fast Minter blockchain.
First, people will pay machines via the blockchain, and over time, machines will be paying other machines for people as they simply don’t know what Visa or a bank account is. What they need is a specific payment status, not ‘please contact your bank.’”
Engineer: @webcounters
Credits: @BTCSecure
- You have an office
- There is a vending machine in there
- Every day, employees are credited with coins they can use to pay for coffee, snacks, stuff like that. Not everyone has a startup business and can spend investor money on a kitchen with endless food and drink; many pay for those things
- There is an office coin (token), and it will work only on the company’s devices. But it has a real value, and if one of the employees wants something beyond the limit, they can buy more of it. Or vice versa: sell to top up a mobile phone or pay for gas. Or transfer it to a colleague, of course
- Each charge is in the chain and can be tracked, if necessary—e.g., for statistics, reporting purposes
Below is a video that shows how it works.
Now imagine that instead of a vending machine, there are gated parking lots connected to the blockchain (each tenant has a limit); paid WiFi access points at an airport, hotel, or park (you scan, pay, and get the amount of time you’ve bought); interactive billboards (type the text, send it, and your better half sees the message), etc.
All of this can be done on a simple Raspberry Pi board and a fast Minter blockchain.
First, people will pay machines via the blockchain, and over time, machines will be paying other machines for people as they simply don’t know what Visa or a bank account is. What they need is a specific payment status, not ‘please contact your bank.’”
Engineer: @webcounters
Credits: @BTCSecure
Forwarded from Minter Network
Media is too big
VIEW IN TELEGRAM
📨 #DeCenterDaily
⛓ Ethereum creator Vitalik Buterin proposed a way to speed up the Proof-of-Stake transition.
via Decrypt
🔎 China-based Internet giant Tencent is reportedly forming a digital currency research team.
via CoinDesk
💻 Thomson Reuters is launching a cryptocurrency tax tool.
via Bitcoin.com
⛔️ Coinbase has announced it will shut down Earndotcom to focus exclusively on Coinbase Earn.
via The Block
📹 Crypto YouTubers have accused the platform of censorship.
via Cointelegraph
⛓ Ethereum creator Vitalik Buterin proposed a way to speed up the Proof-of-Stake transition.
via Decrypt
🔎 China-based Internet giant Tencent is reportedly forming a digital currency research team.
via CoinDesk
💻 Thomson Reuters is launching a cryptocurrency tax tool.
via Bitcoin.com
⛔️ Coinbase has announced it will shut down Earndotcom to focus exclusively on Coinbase Earn.
via The Block
📹 Crypto YouTubers have accused the platform of censorship.
via Cointelegraph
📨 #DeCenterDaily
👨⚖️ The man alleged to have looted the cryptocurrency exchange Bitfinex is set to plead guilty.
via Modern Consensus
🇺🇿 The government of Uzbekistan has banned its citizens from purchasing cryptocurrency.
via Cointelegraph
🥇 Someone redeemed a 100-Bitcoin Casascius bar worth over US$700,000.
via Bitcoin.com
📈 Bloomberg Markets editor has strongly criticized the Bitcoin Stock-to-Flow model.
via ccn
🔒 The NULS altcoin team could have accidentally frozen funds following a hack.
via Decrypt
👨⚖️ The man alleged to have looted the cryptocurrency exchange Bitfinex is set to plead guilty.
via Modern Consensus
🇺🇿 The government of Uzbekistan has banned its citizens from purchasing cryptocurrency.
via Cointelegraph
🥇 Someone redeemed a 100-Bitcoin Casascius bar worth over US$700,000.
via Bitcoin.com
📈 Bloomberg Markets editor has strongly criticized the Bitcoin Stock-to-Flow model.
via ccn
🔒 The NULS altcoin team could have accidentally frozen funds following a hack.
via Decrypt
📨 #DeCenterDaily
💎 A federal judge has denied the SEC’s request to see all of the Telegram’s bank statements.
via Modern Consensus
🇹🇭 Thailand’s oldest bank has partnered with Ripple to enable cross-border payments via QR codes.
via The Block
🚔 Interpol has taken action against cryptocurrency mining malware that has already infected over 20,000 routers across Asia.
via CoinDesk
👨⚖️ A federal grand jury has charged Ethereum Foundation’s Virgil Griffith with conspiracy to violate the International Emergency Economic Powers Act.
via Cointelegraph
🇪🇺 The European Central Bank (ECB) is looking to equip a central bank digital currency (CBDC) as a tool to fight a potential decline in the use of cash.
via Decrypt
💎 A federal judge has denied the SEC’s request to see all of the Telegram’s bank statements.
via Modern Consensus
🇹🇭 Thailand’s oldest bank has partnered with Ripple to enable cross-border payments via QR codes.
via The Block
🚔 Interpol has taken action against cryptocurrency mining malware that has already infected over 20,000 routers across Asia.
via CoinDesk
👨⚖️ A federal grand jury has charged Ethereum Foundation’s Virgil Griffith with conspiracy to violate the International Emergency Economic Powers Act.
via Cointelegraph
🇪🇺 The European Central Bank (ECB) is looking to equip a central bank digital currency (CBDC) as a tool to fight a potential decline in the use of cash.
via Decrypt
China-based cryptocurrency mining equipment manufacturer Bitmain has quit an operation partnership for its Texas mining farm.
Read More »
Read More »
The Block
Bitmain cancels operation partnership for its Texas mining farm
Bitmain, one of the world's largest bitcoin mining machine manufacturers and miners, has terminated its management agreement with its Texas mining farm operator, DMG Blockchain Solution. Two firms mutually decided to discontinue the existing agreement that…
Tether has swapped 15 million USDT from the Ethereum blockchain to Blockstream’s Liquid.
Find Out More »
Find Out More »
CoinDesk
Crypto Trading Privacy Gets a Boost as $15M of Tether Moves to Liquid Sidechain
Innocuous at first glance, the transfer of $15 million worth of USDT from ethereum to Liquid has big implications for the tether market and digital asset trading more broadly.
📨 #DeCenterDaily
💎 Telegram will need five to seven weeks to collect the information requested by the SEC.
via The Block
👋🏻 The plaintiffs have withdrawn a class-action lawsuit alleging Tether and Bitfinex’s Bitcoin manipulation.
via CoinDesk
🦅 The SEC is seeking US$16 million in penalties from the ICOBox token sale platform.
via Cointelegraph
👩⚖️ Ethereum Foundation’s Virgil Griffith has been released on a US$1 million bail pending trial.
via Modern Consensus
🇰🇵 Cybersecurity firm Kaspersky Lab issued a statement outlining North Korea-based hacker group Lazarus’ advances in cryptocurrency-aimed attacks.
via Decrypt
💎 Telegram will need five to seven weeks to collect the information requested by the SEC.
via The Block
👋🏻 The plaintiffs have withdrawn a class-action lawsuit alleging Tether and Bitfinex’s Bitcoin manipulation.
via CoinDesk
🦅 The SEC is seeking US$16 million in penalties from the ICOBox token sale platform.
via Cointelegraph
👩⚖️ Ethereum Foundation’s Virgil Griffith has been released on a US$1 million bail pending trial.
via Modern Consensus
🇰🇵 Cybersecurity firm Kaspersky Lab issued a statement outlining North Korea-based hacker group Lazarus’ advances in cryptocurrency-aimed attacks.
via Decrypt
Facebook CEO Mark Zuckerberg revealed his vision for the new decade, writing about Decentralizing Opportunity yet not mentioning Libra.
Read Now »
Read Now »
Facebook
Mark Zuckerberg
Every new year of the last decade I set a personal challenge. My goal was to grow in new ways outside my day-to-day work running Facebook. These led me to learn Mandarin, code an AI assistant for my...
Forwarded from Minter Network
Develop games and loyalty systems. They are the real deal!
@egordeev: “I gather that many are mistaken in thinking that the Internet of Money necessarily implies digitized national money used to pay for everything and everywhere. The same ideas were taking hold in the ’90s when everyone expected all content to be professional and to copy newspapers, compact disks, and other off-line containers.
In reality, the Internet of Money represents relationship systems established by the communities—e.g., in-game coins and loyalty points. Without such kinds of money, efficient growth becomes merely impossible as every system itself programs the corresponding terms of use. Think of it: you do not spend U.S. dollars within World of Warcraft, nor do airlines deposit pure cash to your account (hint: even in case they do, you lose up to 90% of all opportunities; my effective cashback through points reaches 5% from all purchases).
That is why what I am betting on today is not the swap of U.S. dollars or Indian rupees to the blockchain, which will ultimately lead to fierce resistance on the part of governments (cases of Libra and TON), but the development of private money in projects. The more efficient the systems, the faster the national money will be digitized as there simply will be no other option left. People transition from cash to cards, from cards to Apple/Android Pay, from contactless payments to QR codes, and so on.
In-game coins and loyalty points are a ‘Trojan horse’ strategy blockchains can adopt. The gaming industry rakes in the largest revenues among the broader entertainment market, superseding all others combined. Loyalty is what every business needs, and as we all know, marketing costs per returning customer are ten times lower. In both cases, thanks to blockchain, the following model is perfectly implemented: one can be assured that millions of people will receive their funds and be later able to use them inside the system or transfer them to their friends. Maximum security, highest uptime possible, protection from balance tampering, extremely low infrastructure costs. Both coins and points have already become part of contemporary IT systems, so you will not have to persuade anyone on the benefits of the transition to decentralized ledgers, and even more so, to digitize anything.
Now, let us take a look from a regulatory perspective. Watchdog agencies are indifferent to where you store user coins and points—be it MySQL or Minter blockchain—their main concern is whether you pay corporate taxes. Just like with the common digital assets that have been in use for a few decades now.
I am confident that the years 2020 and 2021 will first give a head start to these two directions as demand for solutions is colossal—all users want to entertain themselves, and all users want to benefit from taking part in the systems. Consider the idea that loyalty gamification is one of the most efficient formats of audience engagement and retention (raise your coefficients as you level up), and vice versa: special loyalty programs for players (invite your friends) allow businesses to get products similar in functionality yet diverse in terms of potential use cases and applications.
There is no need to exaggerate and try to give everyone in the world a Bitcoin so as to create a single free market of money. What is needed, though, is attending to seizable problems facing projects and businesses. By solving them, we will acquire grateful users; those who will stop running from crypto like the plague and thinking of it as ‘something out of thin air.’ Once they can buy WoW armor or flight tickets, no one will care about how it is called—people will only want it to continue to work just as cool.”
@egordeev: “I gather that many are mistaken in thinking that the Internet of Money necessarily implies digitized national money used to pay for everything and everywhere. The same ideas were taking hold in the ’90s when everyone expected all content to be professional and to copy newspapers, compact disks, and other off-line containers.
In reality, the Internet of Money represents relationship systems established by the communities—e.g., in-game coins and loyalty points. Without such kinds of money, efficient growth becomes merely impossible as every system itself programs the corresponding terms of use. Think of it: you do not spend U.S. dollars within World of Warcraft, nor do airlines deposit pure cash to your account (hint: even in case they do, you lose up to 90% of all opportunities; my effective cashback through points reaches 5% from all purchases).
That is why what I am betting on today is not the swap of U.S. dollars or Indian rupees to the blockchain, which will ultimately lead to fierce resistance on the part of governments (cases of Libra and TON), but the development of private money in projects. The more efficient the systems, the faster the national money will be digitized as there simply will be no other option left. People transition from cash to cards, from cards to Apple/Android Pay, from contactless payments to QR codes, and so on.
In-game coins and loyalty points are a ‘Trojan horse’ strategy blockchains can adopt. The gaming industry rakes in the largest revenues among the broader entertainment market, superseding all others combined. Loyalty is what every business needs, and as we all know, marketing costs per returning customer are ten times lower. In both cases, thanks to blockchain, the following model is perfectly implemented: one can be assured that millions of people will receive their funds and be later able to use them inside the system or transfer them to their friends. Maximum security, highest uptime possible, protection from balance tampering, extremely low infrastructure costs. Both coins and points have already become part of contemporary IT systems, so you will not have to persuade anyone on the benefits of the transition to decentralized ledgers, and even more so, to digitize anything.
Now, let us take a look from a regulatory perspective. Watchdog agencies are indifferent to where you store user coins and points—be it MySQL or Minter blockchain—their main concern is whether you pay corporate taxes. Just like with the common digital assets that have been in use for a few decades now.
I am confident that the years 2020 and 2021 will first give a head start to these two directions as demand for solutions is colossal—all users want to entertain themselves, and all users want to benefit from taking part in the systems. Consider the idea that loyalty gamification is one of the most efficient formats of audience engagement and retention (raise your coefficients as you level up), and vice versa: special loyalty programs for players (invite your friends) allow businesses to get products similar in functionality yet diverse in terms of potential use cases and applications.
There is no need to exaggerate and try to give everyone in the world a Bitcoin so as to create a single free market of money. What is needed, though, is attending to seizable problems facing projects and businesses. By solving them, we will acquire grateful users; those who will stop running from crypto like the plague and thinking of it as ‘something out of thin air.’ Once they can buy WoW armor or flight tickets, no one will care about how it is called—people will only want it to continue to work just as cool.”
📨 #DeCenterDaily
👩⚖️ A federal district judge has ordered Craig Wright to prove a “mysterious bonded courier” is delivering the keys to US$9 billion worth of Bitcoin held in Tulip Trusts by February 3.
via Modern Consensus
💎 The SEC has produced evidence that Telegram kept selling tokens after ICO.
via CoinDesk
🖥 Block.One released EOS.io 2.0, the software underlying the EOS blockchain.
via Cointelegraph
💵 Blockchain-based remittance services startup Lightnet has raised US$31 million in Series A funding.
via The Block
📝 Bloomberg published its cryptocurrency outlook for the year 2020.
via ccn
👩⚖️ A federal district judge has ordered Craig Wright to prove a “mysterious bonded courier” is delivering the keys to US$9 billion worth of Bitcoin held in Tulip Trusts by February 3.
via Modern Consensus
💎 The SEC has produced evidence that Telegram kept selling tokens after ICO.
via CoinDesk
🖥 Block.One released EOS.io 2.0, the software underlying the EOS blockchain.
via Cointelegraph
💵 Blockchain-based remittance services startup Lightnet has raised US$31 million in Series A funding.
via The Block
📝 Bloomberg published its cryptocurrency outlook for the year 2020.
via ccn
The Japanese Financial Services Agency (FSA) intends to set the 2x cap as maximum leverage for cryptocurrency margin traders in the country.
Learn More »
Learn More »
CoinDesk
Japan's Financial Watchdog to Set Low Leverage Cap for Crypto Margin Traders: Report
Japan's top financial regulator reportedly plans to reduce the risk to crypto margin traders by cutting the maximum allowed leverage.
Forwarded from Minter Network
Create businesses
Cryptocurrency and blockchain, what are they? Merely technologies for improving the efficiency of processes which, in their turn, lead to the achievement of goals. The goals themselves have remained unchanged over centuries—individuals, teams, and organizations are all willing to profit as a result of their activity, and the best way to accumulate that profit is through a new-fashioned business structure.
Novel business does not mean, of course, someone profiting from the growth in the coin’s price. Although some would not find any fault with that, just as is the case with any resource corporation (e.g., Saudi Aramco has become the world’s most valuable publicly-traded company precisely because it operates the largest oil fields on the planet). In the most simplified model, any business needs unit economics under which every trade generates income for the company and subsequently, profit—after all costs have been incurred.
The most straightforward and comprehensible business on Minter today is block validation. Companies offer users their services, charge a commission fee, pay their expenditures, and if properly organized, make a profit.
Games are another good example of how to get the maximum out of using blockchain—you can send out millions of coins that gamers will use to start playing, including via referral programs. All transactions instantly and transparently recalculate the balances, leaving no room for cheating. Which is vitally important in games such as chess: you want to make sure that your opponent is not a robot but someone who has a history and is at your level.
At the end of the day, the most benefit from their work will be captured by those who capitalized their intellectual property with positive unit economics in the form of business. And if while doing so, you see the token’s price increase as well, you have done everything just right.
No payment system and no national currency is on par with blockchains and crypto in terms of global reach and transfer security. That must serve as a basis for improving already existing businesses and building the new ones. But do not center them around selling the coins; rather, create full-fledged processes that will not run on any other tech.
Cryptocurrency and blockchain, what are they? Merely technologies for improving the efficiency of processes which, in their turn, lead to the achievement of goals. The goals themselves have remained unchanged over centuries—individuals, teams, and organizations are all willing to profit as a result of their activity, and the best way to accumulate that profit is through a new-fashioned business structure.
Novel business does not mean, of course, someone profiting from the growth in the coin’s price. Although some would not find any fault with that, just as is the case with any resource corporation (e.g., Saudi Aramco has become the world’s most valuable publicly-traded company precisely because it operates the largest oil fields on the planet). In the most simplified model, any business needs unit economics under which every trade generates income for the company and subsequently, profit—after all costs have been incurred.
The most straightforward and comprehensible business on Minter today is block validation. Companies offer users their services, charge a commission fee, pay their expenditures, and if properly organized, make a profit.
Games are another good example of how to get the maximum out of using blockchain—you can send out millions of coins that gamers will use to start playing, including via referral programs. All transactions instantly and transparently recalculate the balances, leaving no room for cheating. Which is vitally important in games such as chess: you want to make sure that your opponent is not a robot but someone who has a history and is at your level.
At the end of the day, the most benefit from their work will be captured by those who capitalized their intellectual property with positive unit economics in the form of business. And if while doing so, you see the token’s price increase as well, you have done everything just right.
No payment system and no national currency is on par with blockchains and crypto in terms of global reach and transfer security. That must serve as a basis for improving already existing businesses and building the new ones. But do not center them around selling the coins; rather, create full-fledged processes that will not run on any other tech.
📨 #DeCenterDaily
💰 Payment network Visa is making a US$5.3 billion acquisition of a crypto-serving fintech firm Plaid.
via The Block
🤝 Chicago Mercantile Exchange (CME) has launched options on Bitcoin futures.
via CoinDesk
💵 Global asset manager WisdomTree plans to develop its own, SEC-regulated stablecoin.
via Decrypt
🇨🇭 Smart contract auditing firm ChainSecurity has joined the Swiss arm of PwC.
via Modern Consensus
💪🏻 Blockchain will be the most in-demand hard skill in 2020, according to a new study by LinkedIn.
via Cointelegraph
💰 Payment network Visa is making a US$5.3 billion acquisition of a crypto-serving fintech firm Plaid.
via The Block
🤝 Chicago Mercantile Exchange (CME) has launched options on Bitcoin futures.
via CoinDesk
💵 Global asset manager WisdomTree plans to develop its own, SEC-regulated stablecoin.
via Decrypt
🇨🇭 Smart contract auditing firm ChainSecurity has joined the Swiss arm of PwC.
via Modern Consensus
💪🏻 Blockchain will be the most in-demand hard skill in 2020, according to a new study by LinkedIn.
via Cointelegraph
The People’s Bank of China (PBoC) has reportedly finished the top-level design for the country’s upcoming national digital currency.
Read More »
Read More »
Decrypt
China’s state digital currency nearly ready, says central bank
China’s central bank has issued a paper stating it has completed much of the development for its new digital currency, reported local news outlet JRJ.
📨 #DeCenterDaily
📑 Bitwise Asset Management withdrew its application to launch a Bitcoin exchange-traded fund (ETF) from the SEC.
via CoinDesk
👩⚖️ Craig Wright notified the court “that a third party has provided the necessary information and key slice to unlock the encrypted file.”
via Decrypt
🦅 The SEC issued a warning to investors about initial exchange offerings, stating the majority do not comply with federal securities laws.
via Modern Consensus
📊 Cryptocurrency exchange Bitstamp has partnered with Silvergate Bank to pilot Bitcoin leveraged trading.
via Cointelegraph
📈 BSV has briefly replaced BCH as the fourth-largest cryptocurrency in terms of market capitalization.
via ccn
📑 Bitwise Asset Management withdrew its application to launch a Bitcoin exchange-traded fund (ETF) from the SEC.
via CoinDesk
👩⚖️ Craig Wright notified the court “that a third party has provided the necessary information and key slice to unlock the encrypted file.”
via Decrypt
🦅 The SEC issued a warning to investors about initial exchange offerings, stating the majority do not comply with federal securities laws.
via Modern Consensus
📊 Cryptocurrency exchange Bitstamp has partnered with Silvergate Bank to pilot Bitcoin leveraged trading.
via Cointelegraph
📈 BSV has briefly replaced BCH as the fourth-largest cryptocurrency in terms of market capitalization.
via ccn
Fidelity Digital Assets will provide custody services for Bitcoin under London-based crypto investment firm’s management.
Find Out More »
Find Out More »
The Block
Fidelity Digital Assets to provide custody for London-based Nickel Digital Asset Management
Fidelity Digital Assets will soon provide custody services for bitcoin held by a London-based crypto investment firm.