Daily Crypto Digest – 011

It is now becoming clear more than ever, crypto dealings need some good regulations, the type that takes into consideration all parties involved.

Why am I calling out for this? Because there is a need to curb activities like wash trading, cartels, and pump and dump trading schemes.

The impact a balanced regulated framework can have may be an immediate game changer.

Although, the effect may progress steadily and slowly but should be a good solution in the long run.

Taking pumps and dumps as a good example. There was a noticeable reduction in the number of groups that continually engage in the scheme when the SEC put up the “whistleblowing” activity during the early period of 2018.

A good experiment to show there is a need for regulation, a fair one to be precise.

Many sorts of unscrupulous behaviors happen because the lust for quick riches and greed is a great enemy or disadvantage to the decentralized moves we all call for.

Yes, we shouldn’t be taken as slaves by big authorities. No giant cooperation should be able to use our personal prints and data as they see fit. But if we have something to learn from the past few years; it is that total decentralization should not be encouraged because of its disastrous effect.

In theory, total decentralization sounds really good, who could reject the notion of freedom? But practical examples have shown us the bad side of it as various kind of players are called to the party and for sure not all individual have a good motive.

Taking the DPoS consensus for example. In theory, the consensus looks really ideal, like I mean the perfect algorithm for the socially inclined community of people as each representative or block producer is continually voted in by the participants of the network and can be ranked or voted out if the community decide the BP contribution isn’t ethical or benefiting anymore. What a perfect way to actualize a democratic governing body.

However, it has also shown us how bad it to established an autonomous framework without some strict penalty guideline to punish offenders.

Decentralization, as postulated by the majority, means anyone should be able to do as they see fit. To some extent, this is very true, but by our nature and rational intelligence, there is a marked difference between good and bad morals and their effects on our lives and society.

The factual part of it is that both states of morals are easily expressed through us.

Strict policing, rules and laws had been the greatest solution to hibernate the show of bad behaviors. Even the Supreme being conformed to it by the laws stated in the Bible.

In that respect, crypto dealings shouldn’t be an exception if we truly want to achieve a genuine and fair decentralized system.

My reasons for writing out this opinion is connected to why the price of BTC took a sudden slump despite the buying interest and sentiments.

One report stated it was caused by the influx of the newly printed Tether tokens by Bitfinex. So far Bitfinex denied such activity, leaving the truth of the matter in an unconfirmed state.

Alright! Let look into some latest catch-up and updates in the media and forums.

Reddit

Pixabay Image

Bitcoin price during the early days of Silk Road. What it was traded for would blow your mind.

In doubt whether cryptocurrency will fail? Don’t be surprised the Internet got more douted during its early days.

Bitcoin broke 400k transactions on the 24th of April, the 8th highest ranking daily transaction for bitcoin.

Twitter

Word of wisdom from Dan Larimer on morals.

Rumors about Nike developing its own cryptocurrency.

A user is already benefiting from the just-launched Brave browser ad reward.

Reports and Updates in the News.

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It was reported some few days ago that a hacker found a way to guess dozens of Ethereum private keys, stealing over 45,000 Ether along the way.

In a new report, research shows, many hundreds of Keys are weakly generated and are susceptible to theft.

The news stated that “the probability of a chance to hack 256-bit encryption adopted by most blockchains would take years”, but after some thorough testing and analysis, over 700 Ethereum Keys was reported to be at risks of being hacked.

Read the In-depth report now on news.bitcoin.com.

Industry leaders deliberate on how to realize the mission of cryptocurrency.

Bitcoin was created with the sole aim of replacing the traditional fiat currency.

This mission was clearly stated in the Genesis block of its blockchain – revealing the corrupt and unreliable ways of the old system and the need to replace it.

Over the years, the currency had struggled to convince this mission could be realized base on many factors some of which include the slow confirmation time and excessive power usage for its production, so much that the digital currency is now considered a store of value.

However, its supporters and movers aren’t giving up easily.

In the news – it was reported that Top Traders and company representatives including Binance and Coinbase held a talk in Singapore to include cryptocurrency in the global financial framework and bring about more use cases to it.

Read the full report on Cointelegraph

Other reports and updates in the news.

America rapper Lil Pump started accepting bitcoin through his merchandise store ‘Unhappy’.

The UK based ‘Wirex’ to launch 26 stablecoins as part of its partnership with Stellar.

Crypto lender Genesis processed over $425M crypto loans in the first quarter of 2019.

IBM plans to apply blockchain technology at Lenovo Data Center Group following a new agreement.

GRS launch crypto-based variance swap to hedge against volatility.

The feeling when you get beared.

Sourced from Reddit. 

Thanks for your time reading the digest.

Remember to visit my blog tomorrow for another interesting digest.

Cheers ūüôā

Disclaimer

The contents of this post are intended for information purpose only and should never be taken as an investment or trading advice. All information contained herein is linked to their respective sources without being taking word for word except in quotes and references.

Daily Crypto Digest – 010

Workin: Can you hear the sound in the air?

Buckley: Yes.. faintly, buh I can hear em

Workin: What does it whisper?

Buckley: szz.. szz.. It’s very weak and your thick voice isn’t helping either

Workin: Listen you scumhead.. Listen again!

Buckley: mism… mism.. optimism.¬†Originating like a big roar from afar, reaching to us with struggles like a bird flying through a raging wind. It like something is trying to tell us a thing about the future.

Workin: about what?

Buckley: I am not a wizard nor do I analyze or interpret as you do. So, how do you expect me to know that?

Workin: as for the advantage of age. I think I should decipher this. It was in the summer of 2015, I was in the wood with Martin just as we two are, a similar voice erupted. Same with Zeus in 2017. For the big part.. What follows that two periods was something unimaginable and the later event was stronger than the former.

Buckley: what event?

Workin: the bulls in their large numbers migrating from the far west flooded our county. Chasing away the bears we have long fought against as they rally with great strength. Our pastures flourished with their fresh manure, leaving our land with an abundance of nutrients to hold onto.

Buckley: then I can’t wait to get my friends prepared. I need to inform¬†Jimmy,¬†Infosion,¬†dtwo,¬†Antigenx, Sulex and all I could. Because if by your words, the upcoming rally would be greater than the past. We need to get our pastures prepared.

Optimism! It moving quietly in the air. Rising up to the heights with bigger strength.

Unless a person is not an active follower, the mood revolving around social discussion platforms like Reddit and Twitter is something to be excited and curious about. It has been a while since people of varying experience and expertise speaks about historical events and records like in this moment.

Topics like the golden cross, phase of renewed optimism and so on are now being deliberated upon in a manner that has long been seen.

Overall daily trading volume isn’t planning to cool down the mood either.

The past 36 hours saw another upward movement by the king himself, putting everyone in awe of his next direction. Alts were really dumped out of FOMO to rally along with the king, but several corrections along the way must have signaled an unknown direction.

The direction of the next movement is very unpredictable, calling for more carefulness in other to stay safe.

Happy trading or HODLing.

Let look at some of the recent happenings and discussions.

Pixabay Image

Reddit

A crypto scammer got called out in public by a desperate investor.

A short story of a 75 years old man who bought crypto for his grandchildren.

“I traveled 1 year around the world on 1 BTC(plus alt) – and wrote a book about it”.The fantasy of a crypto investor.

Twitter

EOS main net reaches 1 million accounts.

Samsung rumored to be developing blockchain solutions with Ethereum and ICON.

A take on how some exchange incentivizes wash trading.

Tron¬†partnered with Liverpool FC. What a bullish news! ‘Yet to be authenticated‘.

Updates in the News

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Created along with the debut of the internet are companies with the focus on providing large-scale access to digital service or information such as the Google search engine, Amazon web service and the rest.

Fast forward to a few more years, we saw various models of businesses formed around the users accessing these services.

User-generated data created a lot of revenue opportunities. The advertisement industry took a new form of engagement. Product development relies on the core behavior and patterns of users.

To the unfair part, individuals with the right to these data are cheated out of the information they provide by being totally ignored in the revenue sharing mechanism.

Good awareness is now widely spread among users on how they are being robbed of their personal prints and belongings.

This has ushered a rally calling for a decentralized move. Luckily with the birth of the blockchain, the move is having more fruition than earlier predicted.

Revamping one the crucial gateway to access the internet is the Brave project with the introduction of the Brave browser built on the chromium browser infrastructure.

Brave reward content creator using the BAT token, distributed via the user accessing such creator’s content.

Now, users can now enroll in the advertising network system Brave promises during its initial founding stage to be eligible for a fair reward for viewing and engaging with advertisement served through its partners.

Read the in-depth update now on Coindesk.

Other Reports and Updates

Samsung invested ‚ā¨2.6 million in hardware crypto security firm Ledger.

Binance launch new service in Singapore.

Samsung is developing an Ethereum based blockchain and may issue its own token.

Ledger appoints new CEO.

TrustToken plan to release four additional stablecoins this year.

John McAfee hinted about knowing Satoshi but fear being charged against by the U.S government.

An interview with ETF consultants and applicants by Cointelegraph to gain more overview about the future effect of ETF on cryptocurrency. Youtube video

https://youtu.be/aU2nd5aDoXw/

Put some grin on your cheek with this crypto meme as I round up this digest

Sourced from Reddit.

Thanks for your time reading the digest.Remember to visit my blog tomorrow for another interesting digest.

Cheers ūüôā

Disclaimer

The contents of this post are intended for information purpose only and should never be taken as an investment or trading advice. All information contained herein is linked to their respective sources without being taking word for word except in quotes and references.

Testing out Whaleshares 2.0


As the title of post says i just switched to Whaleshares beta Version 2 and for most part i can say that i like the redesign as well as some of the new features.

Separate wallet app.
Im mostly indifferent when it comes to this change. My question being:

Why?

Does it add to wallet security?
Im used to having the wallet integrated and usable by having one password so maybe im questioning this decision because of that.
As i said… I dont mind it but i dont feel it adds much, if anything to my user experience.

New Profile page.
When i saw the separate wallet app i thought they removed my ability to view my Stake, mana, etc. on my blog.. Was happy to see the rewards tab.
The profile page looks very modern and the side bars seem very helpful.
Large improvement in that regard.

Now a few negatives…

  1. Not being able to upvote a post unless i click, open and scroll through it is a big nono. I dont understand why you would add such a thing? Its a annoyance and affects user experience in a negative way.
  2. The post image size on blog front page is WAAAAY too big. When you have images this large then its incredibly tedious finding a post you might be interested in that was written 7-8 days ago..
    The complete focus is on the last post.
    My suggestion here would be to either keep the newest post image size as is and reduce the size of all others or put a post list on the right sidebar.

For most part i like the change and even though the text dealing with the negatives might seem long, i still find this update to be extremely positive. I would still like to see some more features added. Pending payout/pending curation being one of them, or an upgrade to the text customization.etc.

One interesting thing i read on the VER 2 announcement i would love if someone would share more info on was:

Ready for Monetization/Ads (Future Update)

Im super interested in seeing how exactly this would work?