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Get Started with The Crypto Genius

Get Started with The Crypto Genius
nce a person starts using the Ethereum Code, he/she does not have to employ any other technical indicator or strategies of their own since the application takes care of the rest. All that one has to do is routinely monitor the performance of the bot and see that the trading parameters that had been set beforehand are left as they are.ditionally, the video also carries a message from Marc Weston, the CEO of Ethereum Code, in which he speaks about the core idea underlying the product. In his own words, the idea to create Ethereum Code came to him after he started talking to one of his office colleagues who had been able to amass quite a massive fortune by investing in Bitcoin at the turn of the last decade.

https://preview.redd.it/ash1nbth76f51.jpg?width=1024&format=pjpg&auto=webp&s=bc6d86c15250b65bb721f1ce136cd461a302bd0b
Let's review Ethereum Code bot and see if the automatic cryptocurrency trading platform is a scam or it is a legit software program that can truly produce real profits.
ditionally, the video also carries a message from Marc Weston, the CEO of Ethereum Code, in which he speaks about the core idea underlying the product. In his own words, the idea to create Ethereum Code came to him after he started talking to one of his office colleagues who had been able to amass quite a massive fortune by investing in Bitcoin at the turn of the last decade.
Let's review Ethereum Code bot and see if the automatic cryptocurrency trading platform is a scam or it is a legit software program that can truly produce real profits
ame of Marc Weston. In his own words, prior to creating this novel trading bot, he worked as a backend staff member for a number of different multinational software corporations. However, he then decided to ditch his 9-5 career in favor of becoming a full-time crypto trader. Whether or not the validity behind Marc Weston is real or not remains to be seen as there is not much information made available to research more about his story and credentialsStep 1: Account Creation

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As with any exchange platform. Ethereum Code also requires users to create their personal trading account. To do this, one has to click on the ‘start now’ button located at the top right side of the app’s landing page. Following this, users need to fill out their details (such as name, email address, country of residence, etc).

Before submitting any money into the app, users are provided with an opportunity to run a full trial of the algorithms that govern the trading bot. In order to do this, all one has to do is go and click on the “Go to Demo”. Following this, the platform will automatically take you to a simulation zone where you will be given $1,500 worth of virtual funds. These funds can then be used for trading in real-life market conditions without any risks. The entire process is quite simple and it is recommended that the bot be left to do its thing for a period of at least 30 to 45 minutes.
Once the aforementioned demo trading phase has concluded, users can proceed to deposit funds into their personal Ethereum Code accounts (given that they are satisfied with the overall efficacy of the platform first). In order to make a deposit, one has to click on the “Go to Live” button and then proceed with the deposit. Once the process has been initiated, users will be sent a message from the app’s admin staff. The entire process is quite streamlined but a deposit can take a few days to execute
Step 4: Start the Trading Process
Once all of the initial formalities are done, users can start using Ethereum Code by simply clicking on the red “Off” button under the “Auto Trading” tab. As soon as this is done, the app starts to source out the best available trade opportunities available at that given moment.
What Makes Ethereum Code Bot Better Than Others?

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While none of this is factually provable upon reviewing The Ethereum Bot trading service, here is what the official website claims:
(i) Easy to use: When compared to a number of other similar products available in the market today, Ethereum Code is extremely simple and straightforward to use
(al any details related to their credit/debit cards or Paypal account.
As a quick recap on the trending automated cryptocurrency trading software platform, let's answer the most pressing questions about Ethereum Code Bot
A: The Ethereum Code Bot claims to be an automated trading software that analyzes current trading trends in the market using a state-of-the-art algorithm that automatically makes trading bets on your behalf. The accuracy, legitimacy and veracity of the Ethereum Code is largely unproven and unfounded despite the numerous claims of producing real results and profits for users.

A: According to the official website, the Ethereum Code trading bot says the sky is the limit about profits it can earn for traders. Depending on the initial amount deposited, users are expected to earn daily profits which is all outlined in the members area. While the Ethereum Bot makers boldly state and would like to have you believe thousands of dollars are possible a day, it is likely not a reality for the majority if any. However, one might suspect some profit is available given the glorification of their trading bot software but it is a buyer beware opportunity to say the least. High risk, medium reward is possibly another way of putting it.: Apparently this amazing auto-trading bot is free to use for all users. It is unclear how much the full Ethereum Code software service price is despite being free to
While there is never a magic software that can help investors get rich overnight, Ethereum Code seems to be a risky yet semi-legit tool that can allow users to maximize their crypto returns in the easiest, most hassle-free manner possible.

To start making use of the ‘ground-breaking, automated cryptocurrency trading application', all one has to do is go to the official company website and follow the instructions that have been outlined there. The entire process is quite simple and should not take more than 10-15 minutes to complete. Just beware of the inherent risks in using an automated trading platform and service, as either are capable of failing and disappearing overnight.

From using the actual Ethereum Code bot trading service and it being a scam to losing money on its automated investments, either are both possibilities that everyone should keep in mind if opting to try the Ethereum Code. There are other opportunities that may fit the scope of what your goals and needs are in terms of generating cryptocurrency profits like The Investment of the Decade and Crypto Income Quarterly that may be exactly what you are looking for versus using the automated crypto trading bot service, the Ethereum Code.
https://www.cryptoerapro.com/the-crypto-genius/
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Freelancing guide for beginners in Venezuela(Without Programming Skillls) / Guía de Freelance para principiantes en Venezuela (Sin conocimiento de programación)

Hello reddit! My name is LinkToU, and i’ve been commissioned by u/justgord to share some of my freelancing experience, living in Venezuela. It might not be much, but hopefully it'll help some people get started.
I’ve seen countless numbers of posts here in this subreddit, asking for advice on how to get started, and what are the best ways to receive money, so those are topics i’ll be touching upon in this guide.
As the title says, this is a guide that requires NO programming skills, this is meant to be a guide towards beginners, and people that are having a rough time, like i was, two and a half years ago, before getting into this.
 
First of all, i recommend reading this guide through google docs, because i'm not too familiar with reddit's formatting, and i think this version just looks better: https://docs.google.com/document/d/1DotVUAtEAUXfgTAhDZtmylTzA4nImhoAGZCI-8XdKtM/edit?usp=sharing
Spanish version: https://docs.google.com/document/d/13DNEyyF7F-fXjpA1AplGqQjVh0H_LWd0cCjoKdZzQm4/edit?usp=sharing
 
VERSIÓN EN ESPAÑOL DE LA GUÍA A MITAD DEL POST
 
 
Now, without further ado, let’s dive right into this.
 
What type of work can you expect to find?
There are actually a few types of jobs that you can easily find without any specific skill, for example, translations, lead generation, data entry, transcriptions, writing articles, and even being a virtual assistant. This list could go on and on, but i’ll just give you a couple websites where you can find these types of work, and you can go figure out what’s best for you.
 
Where to find work?
Most of the freelance work i've done it's been through two major websites, so i'll talk a little bit about them and about my experience with each.
 
Spare5 (https://app.spare5.com/) is the crowdworking website that got me into this, . This is basically a crowdworking website where you’ll be reviewing different images, annotating and drawing different polygons to help train AI to identify everyday objects.
Getting started in this page is the hardest part, but i’d say it’s just as hard as it was back in 2017 when i started.
You’ll first have to complete every tutorial, then move on to the qualifiers and onto paid tasks (be sure that you understand every task before diving into them, because if you don’t perform well on your paid tasks, they’ll be taken away from you, and you might even get permanently banned).
The minimum payment is $1, and the payment method that they use is PayPal, you don’t need to have a verified Paypal account, and you WILL NOT get your account limited by just receiving money from this page.
Like i said, the hardest part of this page is to get started, as tasks will be scarce, so try not to make any mistakes, and do every task as best as you can, this will guarantee that they give you even more tasks, and eventually, you’ll be assigned permanent tasks, and your dashboard will look something like this: https://imgur.com/a/TSUASME , as you notice, the payment for each task is really low but don’t get discouraged, you’ll want to find one that is easy to do, and that you can memorize the instructions, i’ve made up to $20 in just a couple of hours, out of easy tasks that paid 0.2c each. Of course, you’ll need practice, Practice makes perfect.
I have NOT been working on this page lately, because the payment per tasks has been diminished, and tasks only get more and more complicated to complete.
 
 
 
 
 
Next, is Reddit, more specifically, the subreddit where i’ve found most of my freelancing jobs, is /slavelabour , where people post any kind of job that they need done (Seriously, any, i’ve seen many kinds of crazy stuff going on there), along with a payment offer, and usually a method.
This one is pretty good, since you can find different kinds of work based on your skills, i’ve mostly done data entry types of jobs there, but there are many others easy for beginners, you just have to keep an eye out for when any potential job gets posted.
Other similar subreddits that i frequent, but aren’t as active as /slavelabour are: /Jobs4Bitcoins/ , /WorkOnline/ /ForHire/ Follow the same advice that i will give for /slavelabour , as these work similarly.
 
Those are the main two websites where i've worked at for the past two years, there are some others that i know of, but since i haven't used them, i don't know how they work.
 
 
Now, let's talk a little bit about payment methods, and what are some good options for receiving your money once you've got yourself some gigs.
 
Payment methods:
Now that you know what are some good places to get started, let's talk about what's the best place to receive your payments, and keep your money safe. I’ll take about the few methods that i’ve used myself, such as PayPal, Uphold, AirTM, and most recently, Cryptos.
 
Where to receive your payments?
 
 
 
 
Uphold is another cloud based financial services platform, similar to PayPal, and with similar fees. The good thing about this platform, is that you can exchange your funds from USD to Crypto, and many other currencies, at the cost of a relatively small fee.
I haven’t used this method too much myself, as i used this mainly for it’s Virtual Credit Card feature, which is temporarily not available.
 
 
 
AirTM is an e-wallet where you can keep your money, and exchange it to other currency, or buy USD with your local money, all in the same platform.
Out of all the options i'm going to list for payment methods, this is my least favorite, as the fees are incredibly high, and in my opinion, what this website provides isn't worth it.
I haven’t had much experience with AirTM, as the fees are ridiculous, but i’ve used it and i’ll share my experiences.
 
 
 
Finally, Cryptocurrencies, i’ve only started using this method recently, and i can already say, this is my favorite so far, and the method i’ll mainly use from now onwards, as this has proven to be really easy to set up, and in my opinion, the best option for receiving payments, as you’ll pay minimum fees for your transactions, keep your identity safe, and the exchange rate to Venezuela’s currency is really good.
I’d say there is no downside to receiving your payments here, as even if you were worried by the Crypto’s price dropping, you could easily use a third party website to exchange your Crypto, to USD in any other platform you’d like.
The cryptocurrencies that i’ve used are Bitcoin Cash (BCH), Bitcoin (BTC) and Ethereum (ETH), all of the transactions that i’ve done haven’t taken longer than 30 minutes, with the exception of using SideshiftAI to exchange my BCH into BTC, which took about an hour. Setting up a wallet for these is rather easy, however here’s a quick guide for BTC and BCH. https://bitcoin.org/en/getting-started .
Also, another point in Crypto’s favor, is that some stores have begun accepting cryptos as a payment method, there’s an app in the Google Play Store named “CryptoLugaresVE” With a list of places accepting crypto as a payment method.
 
 
 
Finally, i’ll talk a little bit about the couple websites that you can use to safely exchange money from USD, to Venezuela’s currency. Other than these, you’d have to find someone of your trust to exchange your currency.
 
Where to safely exchange your earnings to Venezuela’s currency?
 
 
 
 
 
That’s it for now, I’ll probably update the guide as i learn more and try out new stuff, as well as with your feedback. I just want to thank u/justgord for giving me the opportunity to share all of this with you guys!
 
 
Hola Reddit! Mi nombre es LinkToU, y u/justgord me comisionó para compartir con ustedes mi experiencia trabajando como freelancer en Venezuela.
He visto un montón de posts de gente pidiendo consejos para comenzar, cuáles son las mejores plataformas para recibir dinero, y cosas así, así que esos serán los temas que trataré en esta guía para principiantes.
Como dice el título, esta es una guía para personas que no tienen conocimiento de programación, sólo necesitarán un buen conocimiento de Inglés.
 
Recomiendo leer esta guía a través de google docs, ya que no estoy muy familiarizado con el formatting de reddit, y creo que esta versión es más fácil de leer: https://docs.google.com/document/d/13DNEyyF7F-fXjpA1AplGqQjVh0H_LWd0cCjoKdZzQm4/edit?usp=sharing
 
Versión en inglés: https://docs.google.com/document/d/1DotVUAtEAUXfgTAhDZtmylTzA4nImhoAGZCI-8XdKtM/edit?usp=sharing
 
Bueno, sin más que contar, comencemos.
 
¿Qué tipo de trabajo se puede encontrar?
Hay varios tipos de trabajos que puedes realizar sin tener ningún tipo de conocimiento específico, por ejemplo, “lead generation”, registro de data, transcripciones, escritor de artículos, o incluso asistente virtual. Podría seguir nombrando tipos de trabajo, pero lo mejor será que les diga algunos lugares para encontrar trabajo, y que ustedes decidan qué es lo mejor.
 
¿Dónde puedes encontrar trabajo?
He trabajado principalmente a través de dos sitios web, así que hablaré un poco de mi experience en cada uno de ellos.
 
 
Spare5 (https://app.spare5.com/) es el sitio web de “crowdworking” con el que comencé a trabajar, hace dos años. Básicamente, estarás revisando diferentes imágenes, anotando y delineando diferentes objetos para ayudar a entrenar inteligencia artificial a identificar dichos objetos.
Diría que lo más difícil, es comenzar en esta página, pero no es mucho más difícil que en el 2017, cuando yo comencé, así que aún es posible.
Lo primero que tendrás que hacer, será completar los tutoriales, que te darán acceso a algunos calificadores, que determinarán si estás listo o no para tareas pagas (asegúrate de comprender bien cada una de las tareas, antes de comenzar a hacerlas, ya que si no las haces bien, te las quitarán y te podrían banear permanentemente.)
El mínimo de pago es $1, pagado a través de PayPal, no hace falta tener una cuenta de PayPal verificada, y recibir fondos de esta página NO hará que tu cuenta de PayPal sea bloqueada.
Como dije antes, lo más difícil de esta página es comenzar, al principio las tareas serán escasas, así que asegúrate de hacerlas bien, ya que esa es la única manera de garantizar que te seguirán enviando tareas. Eventualmente, te darán tareas fijas, y tu panel principal se verá algo así https://imgur.com/a/TSUASME . El pago por cada tarea es bajo, pero lo importante es encontrar una cuál sea fácil y memorizar las instrucciones. Yo he hecho hasta $20 en un par de horas, con tareas fáciles que pagaban 0.2c cada una. Sólo hace falta práctica.
Últimamente no he trabajado en esta página, ya que la paga por las tareas ha disminuido, y sólo son más difíciles de hacer cada vez.
 
 
 
Lo siguiente, es Reddit, más específicamente, el subreddit donde encuentro usualmente trabajo de freelance es /slavelabour , dónde las personas publican cualquier tipo de trabajo que necesiten sea completado, junto con un método de pago, y una oferta, para encontrar a alguna persona dispuesta a hacerlo.
Esta opción es especialmente buena, ya que puedes encontrar muchos tipos de trabajo, dependiendo de tus cualificaciones. Yo he hecho mayormente trabajos de registro de data, pero hay muchas otras opciones fáciles para comenzar, sólo hay que estar pendiente de cuando puedan ser publicadas nuevas oportunidades.
Otros subreddits similares que frecuento pero no son tan activos como /slavelabour son: /Jobs4Bitcoins/ , /WorkOnline/ , /ForHire/ Sigan los mismos consejos que daré para /slavelabour , ya que estos funcionan de manera similar.
 
 
 
 
Métodos de pago:
Ahora que saben cuáles son algunos buenos lugares para empezar a conseguir trabajo, les hablaré sobre cuáles son las mejores plataformas de pago para recibir dinero, y mantenerlo seguro. Hablaré sólo de los que he usado, como PayPal, Uphold, AirTM, y recientemente, Criptomonedas.
¿Dónde recibir tus pagos?
 
 
 
 
 
 
 
 
Por último, hablaré sobre un par de sitios web donde pueden intercambiar dinero de dólares, a la moneda local venezolana. Aparte de estos, existen otros sitios webs de confianza, y siempre está la posibilidad de encontrar una persona de confianza para realizar todos sus cambios de USD - Bs.
 
 
 
Eso es todo por ahora, probablemente siga actualizando la guía mediante vaya aprendiendo nuevas cosas, o con sus recomendaciones. Sólo quiero agradecerle a u/Justgord por darme la oportunidad para compartir todo esto con ustedes!
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Rediscovering ICON

Over the past few days, I had some unexpected downtime, so I went ahead and did some "re-research" of ICON, and went back to read some of the articles and analysis from thoughtful people that got me so excited about the project to begin with. I also found some additional content that I hadn't found before, that was equally thoughtful and analytic.
Ultimately, the more I followed the near-daily updates that ICON has been putting out recently, the more I was unable to fit them into the broader context of what ICON was trying to accomplish, and how each new partnership potentially fits into the puzzle.
After doing this digging around, I thought it wouldn't hurt to share a chunk of what I read here. I thought this would be helpful for the following reasons:
There are obviously a million other places to read about ICON, such as the website, whitepaper, etc. But having thoughtful people explain how the project works, and what new developments mean in context, can be incredibly illuminating, enlightening, and inspirational.
This isn't organized in a perfect manner - not sure if there is a way to do that - but I believe reading the articles below in order is probably the best path to develop a 30,000 foot view of ICON.
Keep in mind, these articles are older, so their timelines on certain developments may be outdated, or a bit on the overly-optimistic side. However, out of all the premises they lay out, and the conclusions they reach, the passing of time has only fortified their analysis and foundational beliefs about the projects. All of the partnerships listed still exist - none have gone away to my knowledge - and of course we've added plenty more over the past few months. The staff has grown, offices have expanded, new partnerships have been born, technological developments added, etc. Ultimately, it's all the more reason to ignore today's price and focus on the potential price in 3-5 years, once the vision articulated below is able to play out.

Markus Jun - The Comprehensive ICON Report Part 1: ICON Facts & Commentary (Medium)
A couple of my favorite sections...
Here’s how this plays out in real life. Imagine that a student requires surgery. She may check into a hospital, verify her identity on Chain ID and give permission so that the hospital can share her medical records directly with her insurance company. This will trigger a smart contract that will immediately transfer her health records and her surgeon’s medical certificate (signed digitally on ICON’s Chain Sign) to the insurance company. The insurance company can then immediately process the insurance claim as both the health records and the medical certificate are tamper-proof on the blockchain and do not require additional verification or the sending of official paper documents, steps which typically slow down the process of traditional insurance claims and make them more costly.
After her surgery, the student who needs to get hospitalized for a few days may then give permission to the hospital to share her records with her university so that she can get formally excused from attending classes. The information would again be shared immediately via a smart contract without the need of a third party ‘messenger’, without the need for paper (e.g., a doctor’s note), and with full assurance for both parties that the information is legitimate.
Thus, the use of Chain ID, Chain Sign, powered by smart contractsexecuting on the ICON network, enables information sharing within industries to become safer, faster, tamper-proof, and cheaper. This means that ICON isn’t just enabling connectivity between loopchain networks, but a more efficient connectivity.
It should be noted that this scenario is theoretically possible on any smart contract blockchain protocol. However, the reason why it’s a uniquely plausible scenario for ICON currently is because ICON is one of the only platforms that have already secured and built the networks in the necessary industries (e.g., healthcare, banking, insurance). Building a blockchain can be as easy as copying and pasting code, the true challenge is building a network.
And...
At the end, Kim refers to adoption occurring with ‘the more participants you have.’ And this is precisely the approach that ICON is taking: enticing corporations to join ICON’s network. Because every time you see an announcement of an MOU between theloop and Company X, you are seeing a new addition to the ICON network. And every addition makes the network more valuable. The sum total of the network value will always be more valuable than any single company within. Even if Company X is Samsung.
If you agree with Kim that ‘the value of blockchain is in the network itself,’ you may see why ICON has gone beyond any other project in realizing this vision.

Markus Jun - The Comprehensive ICON Report Part 2: ICX Token Utility & Valuation (Medium)
As a researcher of this space for 2 years, I’ve studied countless projects and countless surges and crashes in market value. I’ve concluded there are few projects in the blockchain space that have the network effect, enterprise technical expertise, real world partnerships and growth initiatives that ICON has. At the same time, I’ve seen few projects that have been as mischaracterized and misunderstood as ICON, which is why I felt compelled to clarify.
As a Korean, I want to refute the idea that Koreans are nationalistic and will always support their own. Yes, we’re passionate and proud of our gold medalists and Samsung but that’s because they are the best at what they do, and ICON isn’t there yet. However, I feel that ICON is currently Korea’s best hope for global blockchain leadership.
As an investor, I believe that ICX is one of the most undervalued tokens in the space, especially when considering that larger market cap projects can’t compete with the scope of ICON’s network nor their years of experience in providing enterprise solutions. Oncoming developments in the next few months will prove to be catalysts for a significant surge in ICX demand both in institutional and individual investors. As I’ve stated before, widespread misunderstandings of ICON and its relationship with loopchain, and frequent delays have cast uncertainty on the project. But this is mostly immaterial as I feel these are still extremely early days, and these doubt arise mostly from a lack of understanding. Hence, I write.
ICON has successfully planted seeds that are critical for success in major industries, but they are currently just that, seeds. Much of the projects haven’t matured enough to enable the truly game-changing network effects yet. I would say that there aren’t many projects in this space in which the utility of their utility tokens actually drives organic demand, and it’s certainly not true for ICX either right now. But with the network that ICON has built, and the projects that are set to begin developing, I see a strong case to be made.
The crypto market isn’t rational. Everyday, millions are poured into ideas with no product, let alone a network. But in mid-late 2017, Ethereum had an explosive growth in value as people realized its utility/value proposition as a leading 2.0 blockchain smart contract protocol and all its corresponding uses.
I see parallels between ICX currently and ETH in early 2017, both in their initial mischaracterizations, and failure of the public to see their value. If ICON manages to do what it seeks to do just in Korea (and I’d argue they’ve done most of the heavy lifting), we can expect significant growth in demand for ICX. Not just among speculators and investors, but among those actually seeking to utilize ICON as a leading 3.0 blockchain interoperability protocol.

Jimmie Schrute - Thoughts on Icon/ICX: Part 1 (Medium)
There’s a very clear difference between speculative and consumptive demand. Almost all cryptos, including Ethereum, are still firmly in the speculative demand bucket. People are buying, not to use (i.e. consume) the token, but to speculate on it’s future consumptive demand. Undoubtedly, these networks have the potential to generate MASSIVE consumptive demand, but that demand may still be years away. In my opinion, that timeline is much, MUCH shorter for Icon than any other crypto I’ve seen. Icon had functional products up and running that rely on their ICX token months before they launched their mainnet product. Most projects haven’t even begun to actually implement real-world use cases. Sure they talk about them, but talk is cheap, especially in cryptoland.
Why does this matter? Let me use San Francisco as an example. Being a “sales guy” in the Bay Area is a borderline derogatory term with techies. Developers oftentimes start businesses with the mindset that “if we build it, they will come” — “they” meaning customers. Startup after startup learns the hard way that this is almost never the case. Business development is never as easy as technologists think.
In one of his many interviews on Youtube, Min Kim, one of the founders of Icon, mentioned that while they have an incredibly strong tech team, they realize that blockchain technology is still rapidly evolving. We’re still in the early innings of blockchain and, much like the internet, the tech will rapidly improve. Icon’s approach is to develop real world use cases today given the technological constraints we’re operating under. As the space matures technologically, so will Icon. As someone who has worked in tech as well as private and public market investing for many years, I can’t tell you how excited I was to hear him say this. This approach has been the winning approach in industry after industry after industry for decades. Technology and business development go hand in hand.

Hyperconnectivity – A Look at ICON’s Business Philosophy & Strategy (Decrypto.net)
A common complaint I often see in the ICON subreddit and Telegram channel has to do with ICON’s lack of consumer and retail-oriented marketing. I believe there are several reasons for these complaints, with most of them being somewhat unreasonable.
- A lack of understanding of the difference between a token holder and a shareholder. Many token holders believe they are entitled (perhaps even legally) to daily or weekly updates regarding the status of the project.
- Unrealistic expectations set by other cryptocurrency projects which do not function like real-world businesses.
- Overinvesting – plain and simple.
Before discussing the first two points, I would like to say I completely understand the negativity towards ICON’s lack of B2C marketing, and I do agree there is major room for improvement – more on this later on. Token holder versus shareholder – there’s a major difference. In this stage of the game, investing in a cryptocurrency is complete speculation – it can be educated speculation, but it’s still speculation. We do not have the same rights and protections as a shareholder, and we should act accordingly. In the world of corporate business, there are usually quarterly shareholder meetings that act as a medium of communication between shareholders and company executives. As token holders, this does not apply to us.
We should not expect constant communication from executives – the fact that we even have some communication from ICON’s executives is completely unheard of. Imagine Mark Zuckerberg tweeting (LOL) with a Facebook user about Facebook’s upcoming plans on a consistent basis. The truth is, blockchain and its decentralized identity have already punctured a gigantic hole through the facade of normal corporate communication, and the fact that Min Kim willingly spends his free time interacting with the ICON community members is absolutely incredible.
This is further compounded by the fact that, unlike many blockchain projects, ICON has real ties with many industry-leading companies, major banks, top universities, and government institutions. Here are examples of a few – LINE, Deloitte, Samsung, SBI Ripple Asia, DAYLI Intelligence, Smilegate, and more. Many of these companies are worth billions of dollars and have assets and brand recognition of their own to protect. You have to understand that creating coordinated PR strategies with these huge corporations and government entities takes time and patience. Most importantly, it’s not the kind of stuff ICON can whimsically tweet about whenever they feel like it. Obviously, ICON wants to share all the great things happening behind the scenes, but legally they cannot do this without being sued by their partners. Do you think LINE would be okay with ICON publicly talking about future blockchain DApps on the LINE platform? No, because this would affect LINE’s bottom line if its competitors can race to build a similar product.
...
Okay, so all three examples above have one thing in common – ICX gains value as a network utility token. I cannot stress this enough. ICX will not have real value if a bunch of retail investors buys it. ICX may gain “bubble value” if a bunch of hedge funds buys it. ICX will only gain REAL value if the ICON platform is used to connect people, businesses, and institutions together to create new and unique connections that can be monetized.
Knowing this, I hope you have a better understanding of why ICON is working to onboard businesses to build on and connect to the ICON platform first. At this stage of the game, there’s very little incentive to market to retail investors because we are not the intended users of the ICON network. We are the intended users of the services that will use ICON as a backbone and interoperable protocol. Thus, ICON is choosing to devote 95% of their manpower to the core business philosophy, and as true supporters of the project, we shouldn’t have it any other way.

ICON & LINE's Joint Venture Could Lead to 200 Million DApp Users - Decrypto.Net
If this ends up happening, and I think it will relatively soon, ICON will be poised to become the most widely used blockchain platform in the world. At the moment, Bitcoin, the world’s number one cryptocurrency, is estimated to have less than 28.5 million users.
Additionally, here is a great breakdown of LINE and how it could impact ICON.

CHAIN ID, ActiveX, and South Korea's Authentication Nightmare (Decrypto.net)
Last October, theloop revealed that its blockchain-based authentication solution, CHAIN ID, was already being piloted by 25 banks and securities companies in the Korea Financial Investment Blockchain Consortium. Half a year later, theloop announced that CHAIN ID would be used by Samsung (one of Korea’s largest companies) in their biometric authentication technology, Samsung Pass. Recently, ICON Foundation wrote, “in the future it is expected that there will no longer be classifications of certified/private certifications, and all certificates will have the same authenticity.” Connect the dots.
CHAIN ID is already being used by some of South Korea’s largest banks and securities companies.
CHAIN ID is being implemented in Samsung Pass. Samsung has over 57% market share in South Korea’s mobile smartphone market.
ICON revealed there will only be one kind of certificate in the future.
After a little reading between the lines and a tiny amount of educated speculation, I have come to the conclusion that the majority of digital authentication in South Korea will happen on the CHAIN ID platform in the near future. This blockchain solution is being aggressively adopted by the country’s biggest financial and technology firms. If there’s really only going to be one certificate in the future, it’s obvious they will be issued by the first mover in the space – theloop’s CHAIN ID.

I would suggest going through all of the Decrypto.net posts on ICON. Brian Li - the blog's author - has a deep understanding of the project and has done a good job of breaking down new developments by providing context. Here are all the posts he has made that I could find (I have bolded a couple that are particularly helpful):
I would also recommend this year+ old reddit post, as well as this one.
I hope you all find this helpful and valuable. As stated, this will be stale information to a number of you, but hopefully some of it will be fresh to a chunk of you, and 100% new to those who have recently hopped on board the project.
And of course, if there are other articles you've enjoyed along a similar vein that I have not included, please feel free to share them below.

submitted by mpherron20 to helloicon [link] [comments]

Notes from the Hearing Today

Apologies for typos and grammatical errors; wanted to get this out as soon as possible for those that weren't able to watch the live stream. Cleaned up formatting to make it more readable.

While this isn't a 100% word-for-word transcript, the overtone of the meeting should have been conveyed. SEC and CFTC want protections for consumers, but don't want to outright ban crypto. I was under the impression that both agencies were well-educated, but understaffed. They both want to introduce protections for customers and investors and go after scam artists, but don't want to impose any restrictions or regulations that would be bad for crypto as a whole (both from a security perspective, and a technological innovation perspective). Overall a huge positive.

Crapo
Brown
Clayton
Giancarlo
Crapo
Clayton
Giancarlo
Crapo
Clayton
Giancarlo
Crapo
Brown
Clayton
Brown
Clayton
Brown
Clayton
Brown
Clayton
Brown
Clayton
Brown
Clayton
Sen. Shelby
Clayton
Giancarlo
Sen. Shelby
Clayton
Sen. Shelby
Giancarlo
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Sen. Shelby
Sen Reed
Clayton
Giancarlo
Sen Reed
Giancarlo
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Sen Reed
Rounds
Clayton
Rounds
Giancarlo
Ms. Warren
Clayton
Ms. Warren
Clayton
Ms. Warren
Clayton
Ms. Warren
Clayton
Ms. Warren
Clayton
Ms. Warren
Perdue
Clayton
Perdue
Giancarlo
Perdue
Clayton
Giancarlo
Donnelly
Giancarlo
Clayton
Donnelly
Giancarlo
Donnelly
Giancarlo
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Donnelly
Giancarlo
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Sen. Kennedy
Giancarlo
Sen Kennedy
Giancarlo
Sen Kennedy
Giancarlo
Sen Kennedy
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Sen Kennedy
Warner
Clayton
Giancarlo
Warner
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Warner
Giancarlo
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Cotton
Giancarlo
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Giancarlo
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Cotton
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Menendez
Giancarlo
Menendez
Giancarlo
Menendez
Giancarlo
Menendez
Clayton
Menendez
Clayton
Moran
Ms. Masto
Clayton
Giancarlo
Ms. Masto
Clayton
Giancarlo
Ms. Masto
Sen Shelby
Clayton
Sen Shelby
Clayton
Giancarlo
Ms. Warren
Clayton
Ms. Warren
Clayton
Ms. Warren
Clayton
Crapo
submitted by cembry90 to CryptoCurrency [link] [comments]

Why I Am Holding WaltonChain (WTC)

I would like to share some insight on why I am holding Walton (WTC).. Remember this is just my personal opinion and you should always do your own research and come up with your own assessment before investing.
When it comes to investing, one of the primary things I look for is growth potential. And when it comes to Waltonchain, I feel like the potential for growth is so extreme that it could be unprecedented. Of course I can't say for certain Waltonchain will make investors wealthy. But what I will say is Waltonchain is no stranger to the rapidly growing RFID technology, nor the market it resides in.
About Waltonchain
Everyone knows what a UPC code (bar code) is.. it stores the price and helps retail stores keep track of inventory levels. The advancement of this technology is what brought us RFID tags.. Below are the benefits RFID has over the traditional UPC bar code.
What Waltonchain has done is taken the RFID technology to the next level by combining it with blockchain technology.. (See below)
Technical advantages of Waltonchain RFID tags.
Example of RFID in the real world
Rather than simply identifying an item as a box of Cheerios (as bar codes do), an RFID chip can uniquely identify a particular box of Cheerios and enable it to be tracked all the way through the sales chain, from the warehouse to a consumer’s shopping cart. This level of uniqueness in tracking can, for example, aid in the removal of expired merchandise from store shelves or assist in locating items designated as part of a product recall. - Snopes
Waltonchain's 4-phase development plan.
Walton team has formulated a 4-phase development plan, starting from infrastructure platform establishment to gradually incorporating retail, logistics and product manufacturing, and to finally achieving the full coverage of business ecosystem.
Basically Walton works with retail, logistics, and product manufacturing to improve efficiency on all fronts. The entire process from manufacturing all the way to delivery can be assisted and improved with Waltonchain. Waltonchain achieves this by developing state of the art tamper-resistant RFID (Radio Frequency Identification) chips with storage and encryption capabilities. Waltonchains RFID chips can be applied to any tangible item allowing traceability and improved security throughout its journey.
Phase 1
The team has developed the clothing system integration scheme based on RFID. The system has been implemented in Tries, SMEN and Kaltendin. The condition of widely application and promotion has been met. The team starts to research and develop the RFID beacon chip with proprietary intellectual property rights.
Phase 2
The RFID chips will be mass-produced and used in clothing, retail and logistics. This includes store pickup, pricing, order placing, packing and storage, sorting and distribution, store management, dispatching, customer signature, customer assessment and feedback.
Phase 3
Manufacturers will achieve traceable intelligent packaging. The entire processes will be covered, including material purchasing, production, assembly operation, packaging and inventory management. The quality of the materials can be verified and tracked to the source easily. Counterfeit goods can be eliminated to ensure customer interests.
Phase 4
In the future, all assets can be registered in Waltonchain and problems in asset ownership and traceability will be resolved.
Waltonchain isn't just an idea or some dream, it's becoming a reality. Product testing with manufacturers, warehouses and retail stores is already underway. Even though Waltonchain has a long road ahead (Roadmap), I believe there will be a growing demand not just for RFID technology, but specifically for Waltonchains RFID technology.
Let's take a look at some Q&A's collected from AMA's and FAQ.
How much money has gone into R&D so far? Will we see pictures of the hardware anytime soon?
So far between Silicon, Dr. Kim's Lab, and Waltonchain China and Waltonchain Korea, we have approximately spent $8million dollars in R&D alone. Walton chain RFID system prototype has been fabricated and the photos will be shown next month.
Does the Walton team currently hold, or have plans to file for, any patents that directly related to the RFID tag IC it has plans to produce?
Walton team has written and submitted at least four RFID-related patents. our senior advisor Dr. Kim owns 10s of patents, our affiliate Silicon owns many patents as well. (As you can see form CEO Mo Bing’s introduction video). All of the above patents should be and will be readily available for our use to product Waltonchain’s IP advantages over our potential competitors.
If at some point in the future other companies want to use RFID chips using technology created by WaltonChain, will they pay royalties to WaltonChain for technology patented by WaltonChain members?
Yes.
What would be an example or scenario, of a RFID chip applying to the average person daily life? Maybe even if they are not aware of their tech surroundings
Many, e.g. supermarket merchandise inventory, RFID anti-theft system of clothing store and so on. You can pretty much think that we would almost work in any scenario with tangible products. But our focus is firstly to break through the clothing industry right now. Think about Walmart or Target and Costco, and then think about their suppliers, the businesses that supply to these large retailers. They can all be our clients.
Have you tested your RFID tech with any company outside of the clothing industry?
Yes, we also test in retail stores and warehouses.
Why choose the application of garment industry as the breakthrough point in Phase 1.0 of this project?
*The RFID tag has achieved the management of item level in the application of garment industry. Hence, the number of usage is enormous. Large amounts of experimental data can be obtained easily in the development and early application of the chip, as a result of which the chip and system technologies will mature quickly ;
*Many core members of the team have years of industry experience in the field of garment, and they are also familiar with the garment industry, the application of RFID intelligent system, and the promotion of software informationization products and other areas. With abundant resources of customer channels, the upfront cost of customer development is low. Therefore, it is possible to enter the market rapidly and to build up customer base in early days.
Does WaltonChain has its own blockchain?
Waltonchain is a self-developed public blockchain, and the wallet is expected to be online at the end of October. For now, WTC is an ERC20 token but when the Genesis block has been mined the token based on Ethereum will be replaced by the actual Walton Coin with the exchange rate of 1:1.
How much testing has been done in real companies who have opted for integration of WTC to see if it will be long term beneficial?
Up to now, many companies such as Tries, Joeone, SMEN in the apparel industry, Kehua, Lipson plastic in the manufacturing industry and Xiangyu group in the warehouse industry have applied for our WTC & RFID integration system. What is impressive is that all of them have benefited a lot by integrating our system! Compared to before integration, their yield rate has increased by 1.2%, the stock turnover increased by 5.8%, the distribution efficiency has improved by almost 100%, and the inventory efficiency almost tripled in their stores.
For customer information please refer to list below:
With the government subsidizing the project, are you able to provide any other insight into the involvement of the government (including other countries)?
Quanzhou Silicon, the technology backup of WTC in China and a subsidiary of the Silicon Group, has been awarded the “second-class international qualification”, and has received project subsidies from the local government of Quanzhou City, Fujian province. Another subsidiary of the Silicon Group, Nanjing Silihua is also involved in the R&D of the parent chain of WTC. The block chain system developed by this company has received substantial recognition by the technology staff of the government. And it is currently applying for the science and technology award of the Nanjing government.
Apart from this, Xiameng IOT Technology Co.,Ltd, another subsidiary of the Silicon Group, has received a 5-million-yuan subsidy for the project “Smart Ocean of Fujian Province”. The subsidy will be used for the establishment of an IOT-RFID system and the development of the corresponding series of products, which will be a dramatic driving force to the development of Smart Ocean industry in China. So far, the IOT-RFID product has made its footprint across the provinces and cities of mainland China, as well as in Hong Kong, Macao, Taiwan, other southeastern Asian countries, North America and Europe . Its stability, sensitivity and reliability have been the model in the industry.
The Walton Coin (WTC)
  • Any child chain creation needs to expend Walton Coins (WTC). As the Walton ecosystem continues to grow, an increasing number of businesses will be joining the ecosystem, as a result of which they will expend a growing amount of WTC to create all kinds of child chains. Thus, the demands for WTC will rise correspondingly.
  • WTC is the only token of the parent chain in the entire business ecosystem. Any cross-child-chain data transmission and asset exchange will expend WTC. Once the ecosystem has been in place, the demands from the businesses for WTC will keep expanding.
  • The allocation mechanism of the transaction fees (such as A coins and B coins ) expended in the important officially-released child chains will be adjusted in an innovative manner, such as those in the transaction child chain or the sales child chain which will be used in the high-frequency circulation. Most of the transaction fees (say 90%) will be allocated to the wallets of child chain book-keeping nodes, while a small proportion (say 10%) will be exchanged to WTC and allocated to the wallets of parent chain book-keeping nodes.
As mentioned in the White paper, RFID tags can also play a vital role in smart stores. Although not unique to Waltonchain here are some RFID and smart store examples..
  • Smart hanger function: when the customer picks up the clothes on the smart hanger, the smart hanger automatically identifies the clothing label in the hands of the customer, the touch screen displays all the information of the clothes in a timely manner and inputs the data into the background server at the same time; the analyzing software automatically counts the data and generates statistical reports of each period for managers to view.
  • Smart fitting room function: when the customer picks up the clothes and walks into the fitting room, the smart fitting room automatically identifies the clothing label in the hands of the customer, the touch screen displays all the information of the clothes in a timely manner and inputs the data into the background server at the same time; the analyzing software automatically counts the data and generates statistical reports of each period (houmonth) for managers to view and estimate the production plan and popular designs according to the fitting rate.
  • Quick check-out function: using RFID can automatically identify the target information, the receiver can read multiple tags at once within its effective working range to achieve the simultaneous identification of multiple products, thus speeding up the check-out process and improve customer satisfaction.
  • Quick Decisions: A customer can't decide which of 3 dresses she wants. To help her decision, she looks at the RFID data and the movement of the dress in the store. It's there that she notices dresses #1 and #2 are often taken to the fitting rooms, but from there, dress #1 outsells dress #2. Dress #3 on the other hand barely makes it to the fitting room at all. Now, she's able to refine her decision making.
RFID technology is a rapidly growing market estimated to reach $40 billion by 2025. It's a competitive market with RAIN RFID (Board of directors include Google, Impinj, AIM, Smartrac and Amazon) but don't let that discourage you.. RFID is still in its infancy in terms of implementation which means there is plenty of room for growth and competition. And let's not forget, Waltonchain also has an impressive team and something RAIN doesn't... Blockchain technology. Waltonchain has patents readily available which gives it advantages over potential competitors.
You know.. I am not a writer but I tried to summarize Walton and it's potential the best I could. Even after reading this post you may not understand the probability of success. But i'll tell you this.. Finding manufacturers and retail stores in China to help launch this technology is NOT difficult at all. It would be quite the opposite, manufacturers and retail stores would be more than willing to participate considering the benefits RFID provides. It's the blockchain technology behind Waltonchains RFID chips, the ongoing research and development, the security, the intellectual property and everything in-between that makes Waltonchain valuable. Now I am not saying I think Walton will own every RFID smart-tag in existence, but I do believe Waltonchain's technology has potential to capture a good portion of the market long-term. Now remember, I am just telling you why I am holding Waltonchain and you should always research and come up with your own assessment before investing.
Regards,
BTC2018
Upcoming Waltonchain Events
  • Migration to own blockchain - End of October
  • Wallet released - End of October
RFID and Internet of Things:
The number and range of IoT applications that can be envisioned with RFID devices are simply tremendous. The inherent value of RFID lies in enabling “things” to report data in real time for faster, quicker, more interactive decisions both at the industrial level and — increasingly — at the consumer level.
Perhaps the best-known concept, sometimes called the “killer app” for IoT, is the interconnected, automated home, where people can interact with everyday devices in their homes. This vision of the future sees appliances such as refrigerators being aware of their ‘state’, and knowing when to order and replenish groceries; electronics such as lighting, music and TV automatically tuning to individual preferences, which can be managed by presence (proximity to RF-enabled device), by time or by sensory input; access solutions, whether logical ones for Wi-Fi user authorization, or hands-free operation of doors and windows... the possibilities are truly endless. - Smartrac Group
RFID Information:
  • The global radio frequency identification (RFID) technology market is estimated to reach USD 40.5 billion by 2025, according to a new report by Grand View Research, Inc. MarketWatch, May 2017
  • "We definitely see continued growth in retail, and unfolding to the point that it becomes as common as the barcode," - Carl Rysdon, VP of sales for Checkpoint Systems
  • "As good as this sounds, and as big as these numbers might appear, RFID adoption is still only scratching the surface — even when looking at retail apparel applications, where RFID tagging is perhaps achieving 1% of the total available market. Looking outside retail apparel, it’s even more obvious that RFID is still in its infancy in terms of implementation, considering the trillions of objects all around us that can be RFID-enabled." - ChainLink Research
References:
Ill just toss this out there.. I think WaltonChain needs a new and secure website.
submitted by BTC2018 to u/BTC2018 [link] [comments]

Cryptopia CEO Alan Booth on the Cryptocurrency Exchange Realm (Full Article No Link)

Alan Booth is the CEO of one of Cryptopia, an exchange regarded as having one of the widest selection of tokens. Founded in 2014, Cryptopia is one of a handful of blockchain-focused companies in New Zealand.
The Cryptopia team is often tasked with researching hundreds of projects to determine their efficacy before any other major exchange has touched them. The exchange lists many projects in their early stages and post-ICO.
As an entrepreneur and business consultant for over 50 years, Alan Booth’s story is fairly atypical of that of many entrepreneurs in the cryptocurrency world. His perspective on the cryptocurrency is grounded in decades of business development experience, and he views the cryptocurrency exchange realm as one of the most exciting opportunities yet.
In the following interview, we dive into everything from cryptocurrency psychology, the coin listing process, and blockchain entrepreneurship.
How did you get introduced into the crypto world?
That’s interesting. I was consulting for Cryptopia or consulting to assist them in their development path for several months when it became obvious that they needed some senior leadership to move them from where they are, which was basically a reactive technical focus to a more business global focus on how we develop their business model. We are very conscious of the fact that you need a higher level of thinking. You need a global perspective, particularly from New Zealand because there’s not a lot of us down here.
That probably predicates why we’re a global business grown out of such a small population. We’d known each other for a while, certainly six months or so, and when the opportunity came up, why wouldn’t I move from a very safe, comfortable, fun job that I had previously, which was the chief executive of an international flying school. Nothing really scary goes on there.
I am at the latter end of my working life, somewhat semi-retired and all my colleagues went, “You’re going to do what? Are you kidding?” Of course, the blood pressure went up and I said, “yeah, I’m going to have a go at this.”
So, it’s really about the opportunity when you’ve learned so much over 40 or 50 years of developing business models and floating companies and taking them to the world, which is primarily what I’ve done. To find something that’s new and a full of excitement and fear and trepidation and where is all this going? Then it’s an opportunity you can’t afford to pass up. So, it’s just the daredevil saying let’s go.
The risk and the general fervor for the industry have gotten a lot of people very excited. What are the top concerns for exchanges moving forward from your perspective?
They are many fold and they are variable based on feedback from the community and somewhat driven by legislation, driven by corporate requirements. The FinTech world, we’ve got to look at that as well as the coin world. If we want to grow and deliver a product that the average consumer can consume, then we have to deliver all the things that they would typically expect. So, if you went into a retail store to buy a heater, you expect to have a warranty.
You expect to be safe, you expect to be treated well with clarity. And typically, the coin industry to date has not been very good at that because it’s been evolving and mostly evolving from a technical perspective with probably less weight put on the public consumption of the coin. It’s being technically driven as a technical product when you look at it. When you go to the exchange, some of them take a fair bit of thinking about before you can operate.
So, for us, the first thing is trust. If people can’t trust your brand, and that means every part of it, you’re not going to succeed. So, we are very proactive here in New Zealand, talking to legislators, government agencies in and out of New Zealand. KYC, AML, CML, all of that stuff. We are drafting our own internal rules and then most cases they exceed the requirements of our banking partners. So, they look at us and they go, wow, you’re way ahead of where we thought it would be. So, developing a trust relationship with our consumers and business partners is vital. The next thing is developing a stable and functional platform. I don’t just mean the coin exchange itself, but all of the underlying technology. Will we be up? Do we have latency? Are we speedy? Have we purchased the right partnership relationships for our equipment and how do we continue to be able to scale at will and not risk failing to deliver a result? That means helping people get an exchange done, their coins on and off. I suspect it’s the same as every other exchange.
Only thing is, down here, we have really focused on three things to move us very quickly forward. One is the public-facing components. That’s the help desk if you get stuck. We want to be able to respond very quickly. And like the other exchanges, we headed enormous influx in the early part of the year and that was debilitating. Nobody was ready for it. We employed teams of people to come in and train as support operators. We’ve since then spent a huge amount of money on a new ticketing system, which actually went live yesterday.
So, this morning when I come in, there’s smiley faces trying to get their head around it going, wow, this is amazing. So, we triage all the tickets on the inbound route now and puts it in a good space for our response team to reply as quickly as possible, I want. At the moment, we’re not there. Instead of being 40 or 50 hours and all these horrible delays, I want people to have a response from us immediately and I mean within seconds saying we’ve got your ticket. I can’t answer it right now, but we’re on you. Then, within hours, get back to those customers and fix their problem. They don’t deserve to wait 24 hours or 48 hours. People are anxious. Ticketing, we’ve done something about it. Highly trained staff, we’re employing all the time. We’ve developed foreign offices to beat the time zone thing. We now have a support office in the UK that we have had for some time, actually. The next thing is just the stabilizing of our software and hardware.
When you start these things, the enthusiasm and the inexperience of the development team may not know what’s here to them and now we’ve bought in bigger, stronger, international teams. So, that’s great what you’ve got, but let’s do this. So, that’s the phase we’re on now. We’re spending all of our money. In fact, every penny that we generate in this business goes straight back into furthering and developing the products. Nobody’s racing home in Lamborghinis or flying their jets around. They’re just piling into it.
So, that’s how I am in terms of producing a high-quality product. It’s not a decision we just made. It’s always been there, but we are now articulating it internally, that we want to be in the top five of crypto exchanges and digital asset exchanges of some form within the next two years. In the top five, bar none, in every respect.
Would you say the number one component of being thought of as one of the top five would be trading volume? Is that the primary metric?
I absolutely agree with you, but you can’t have trading volume unless you provide the other things first, like security, safety, a good trading platform. If you want trading volume, I have to have a reason for you to trust me, which has to be if I have a failure, will my ticket, be answered? If you do those things, you will get trading volume. I don’t believe you look at it the other way and say, hey, let’s create trading volume because if that comes at you hard and sharp, how are you going to cope with it when something breaks?
It’s technology, things will break. It’s how you address things that go wrong that made you successful, not what you put in place to drive that business in. That will happen if you’re good. The word gets out saying this is a great exchange. They fixed my tickets, they’re fast, they’re responsive, it’s safe. That will create trading volume.
Trading volume for us is income and of course, we want it. We have actually slowed down on coin listings. We’ve slowed down on taking new customers and we’ve slowed down on developing relationships with partners simply to get our platform in better shape so that we can become the most reliable, trusted partner you can have. That will create trading volume, no doubt about it.
Although trading volume does bring in a sizable amount of revenue, there comes a point where it just becomes a vanity metric where people are using an exchange simply because there just aren’t any better alternatives out there.. So, if there is an exchange that can offer all the features that you’re talking about and a premium level of service, then the trading volume will trickle down. There’s no real loyalty for exchanges other than preferences.
Absolutely. We wouldn’t ask for that. Why would you say to somebody, hey, you got to be loyal to us? That’s just silly. You will be loyal to us if I offer you a great experience. That means volume of coins, a huge range to trade through. Ease of trading. One click, two clicks. How about some trading tools just like you see in a modern foreign exchange opportunity? Some arbitrage tools, some tools for measurement, some nice desktop tools.
We want to introduce other things. It just means that you’ve got control over your own reporting and your own desktop environment. It can become a very powerful tool to use as long as we listen to the customers and say, hey guys, we can develop that. Give us a couple of months, let’s put it in front of you.
What is the coin listing process for you guys? What’s the process for someone who wants to get their coin listed on Cryptopia?
We’re just reviewing that and we’re being very focused on changing the way we list coins and who we list. We’re very conscious to gain trust. We are actually your first port of call for particularly those people who don’t know much about coin, so they have to trust their exchange partner. Therefore, we have to make sure that if we list a coin, it’s a viable trusted, honest coin that’s going to give value.
Not just to us as an exchange but it’s not a scam coin. It’s not something just to raise money, pump and dump thing. We have coin listing teams who are very tough. I have introduced people as the CEO to my coin listing team and I can’t get it through them. I’ve said, but these are great guys and I have a great story and I met them in Vancouver and boy, they’ve convinced me.
My coin listing technical team does all the due diligence. Everything from GitHub, Facebook pages, normal stuff like that. If it doesn’t look like a viable product to us on many levels, then it doesn’t get listed. That’s the end of it.
If [the coin] gets past that, we do further due diligence. We’ll actually interview the company. We’ll ask why do you want to list? Why do you want to list with Cryptopia? What’s your plan for the coin? What do you want us to tell customers because they’re going to be relying on us? So, we’d like to do more than just have a coin called 21 Million sitting on the exchange. How about if we had a link to that with some of the criteria we use to judge whether that was a good opportunity. Whether it was a good coin. We might have a 10-point plan and we might say, hey, this coin passed at 9.7. This coin is in, but it only got in at 2.4. Whereas the negative coins, the coins that have gotten negative plans, negative equity in our mindset, they just don’t get on the exchange.
We have a very large number of coins at the moment. We want to remain in that space, be the leader. That means that clearly, we’re not going to get it right all the time because we make mistakes and actually, so do the some of the honest and reliable coin generators. Their plans might not just happen, so they get the benefit of the doubt for a while.
As long as we see that they’re not doing something deliberately to disrupt the market or just to take money, then we’ll support them until they get their business model right. But we’re very focused on a coin listing to us is actually a business partnership. We’re not just going to throw coins up there.
I think 2018 is the year of reckoning, wherein 2017, pretty much anything got listed anywhere. It didn’t really matter how functional the coin was or whether it was legitimate or not. So, it’s really cool to see the trend in exchanges making a stance against that because if the ax falls, it doesn’t fall on the anonymous coin team that could be in Switzerland and Ethiopia. It’s falling on the CEOs and the exchange teams that are allowing access.
People come to us and they say, hey, I haven’t got my money. You’re the exchange. I go, well actually, the coin that we listed, I’m afraid the wallet’s faulty or they didn’t do this, or they ran away. People don’t care. They’re relying on us. That’s why Cryptopia has to be a business partner with each and every user, not just a provider of some coin listings. That would be unethical.
Absolutely, and it’s good to hear. Speaking of regulations, how do you think that’s going to evolve for exchanges, especially being out of New Zealand?
I welcome a regulatory intervention for many reasons. The primary one is that as soon as the regulators start imposing their will and taking notice, it means that it’s a genuine opportunity. They don’t waste their time on something that’s not going to affect global economies or our economy. For example, the New Zealand regulators, we’re working and we’re working with them because they recognize that somebody has got to work with them to tell them what’s going on.
The other side of the fence, that’s us. We have to work with them to say, you can’t do that because it won’t work in this environment. So, working with regulators is critical, in my opinion, and we’re doing that very well. Regulation has to come.
It was just announced in New Zealand a few days ago that we’re going to start, this is unrelated to coins, collecting GST, which is our equivalent of your local taxes, on online purchases. So, typically anything up to $400 that you buy online from Amazon, for example, in New Zealand, you wouldn’t pay tax on and they’re changing that. They’re taking the same view with coins. So, the government is saying, how do we tax revenue? When do we tax revenue? What should it look like? How do we make it fair for you, the exchange and how do we make it fair and manageable by the consumers who may have to declare a capital gain if they’re going, for instance, as an equity or a property as pure speculative fun like betting? And if that’s the case, when should we do this? Should we backdate all that stuff?
Every country is going through this and some have jumped in and made decisions that they’ve had to backpedal on. They were a little bit hasty. In New Zealand, in particular, we have a great relationship with the regulators and all the powers that be, right down to the banks, and are all looking at the space saying, you know what? We don’t quite know what to do, but let’s start doing something and I welcome it.
And the more understanding and control we have on these things at this early stage these next few years, the neater and cleaner will be over the next few years. Just as banking has become very stabilized through regulations, so will this crypto business, whatever it ends up looking like.
New Zealand has its advantages because a smaller population could make building direct relationships with regulating authorities easier. Tim Draper, for example, is investing in Papua New Guinea to try and make this whole digital citizenship country. The Binance guys just moved over to Malta. The global landscape just opened up, and governments will have to start offering distinct advantages to attract companies that could hypothetically set up virtually anywhere.
That’s great because that’s exactly what online trading is about. It’s online and it’s global. We have to join the global party, but we better start from a position of understanding and strength in our own environment. Make sure we have our own stuff together before we start yelling about what someone else should do.
Yeah, absolutely. Shifting gears a little bit, what do you think about decentralized exchanges and how they’re going to affect the whole exchange thing?
The quick and easy answer to that is it will definitely affect the global exchange market. It will definitely affect FinTech because if people who are regular investors and that’s people with mom and pops with a few dollars, right up to institutional investors, if they can see a way of generating revenue and it’s safe, they’re going to move there. They’re not going to discard their other investment opportunities and they’re not going to discard regular exchange-traded equities or working on the stock exchange. But there’s a space here that we haven’t quite worked out who that’s going to work for or how, but the more we regulate, the more we make the tools visible.
The stronger we look to the market and the more professional we look. That doesn’t necessarily mean just wearing a suit into a meeting, but the more gravitas we have behind those discussions demonstrating that we’ve done on the work and that we’ve got smart people here and the technology’s good. We’re ready to come and meet and talk equitably to investors and traditional investment houses. Then there will be a way that they join up. There’s no doubt about it. I mean, it can’t be helped.
How about the lightning network and atomic swaps where you could pretty much exchange peer to peer. You could trade Litecoin for Ethereum directly in one single transaction without an exchange. Centralized exchanges have their benefits, like for example, there’s someone you can knock on their door and say where’d my money go? I need customer support. So, there are advantages there, but then the advantages of a decentralized exchange are just the efficiency. I’m wondering how is that viewed for the centralized exchange world?
I don’t want people to take away my income opportunity. We’re building a business. We would argue, and I think it could be demonstrated to date until the blockchain comes up with some technical solutions. We’re building a trust environment and we are taking on, at considerable cost, the responsibility for providing the trust. First, it’s a coin that we like and here are the reasons. We’ve done the due diligence on your behalf. We allow the transactions to take place and here’s how we regulate, manage and deliver that transaction and manage the wallet relationships.
Cryptopia’s Coin Information display
That’s a role we take on. So, if you trade with a centralized exchange, you’ve got a whole lot of advantages that you don’t have by trading peer to peer. It’s fairly obvious what a peer to peer relationship looks like. If that’s on a personal level, that risk is much greater. If it’s on a more corporate structured level, I don’t know what that looks like yet, but I think we’ve got a long way to go before we could move from centralized exchanges to peer to peer simply because there’s going to have to be some regulation around it. How would the regulators engage in that space? Who are they engaging with? Every single person who wants to trade?
At the moment, they can deal with an exchange that has potentially 2,000,000 to 10,000,000 customers. That’s not easy for a regulator or a tax authority. So, there’s the regular regulatory component. That’s got to be there. Then there’s the trust management and then there are just a few more technical issues that I think have yet to evolve.
It all comes down to running a business. It takes money and capital to get all these users you want to get. If the technology works, that’s great, but onboarding users take resources. How do these projects plan on doing that? It’s just a missing component of every single white paper that tries to go after that who isn’t trying to build a centralized business to oversee it.
I think philanthropy is wonderful and when people are talking about decentralization. It’s a great idea and it’s philanthropic and it would be wonderful if the world could work like that. But there’s never been a business model that has worked without generating revenue. There isn’t one. Everyone’s tried, but you can’t name one that doesn’t have to generate revenue at some point or another.
Even if that revenue is simply generated to make the action happen, the hardware, the software, the bandwidth, someone’s got to pay. So, if you’re decentralizing, how do you get paid? How do you police it? How do you manage it? Why not stick to a model that works? And it’s not just about centralized coin exchanges. It’s not just about front-end institutions. This is a model that’s worked since the first inhabitants of Earth swapped a bean for a stick or can I give you my dinosaur to cook while I bring you a giraffe? I don’t know, but you can’t have a society without an exchange happening of some value in exchange.
Even if I go to a coffee bar with you, here’s the simplest thing. I would say, hey, I’ll meet you for coffee, on me I might pay for the coffee, but guess what? We’ve sat down and exchanged information. I’ve gotten something out of it. How do you do stuff without exchanging value?
It’s push and pull between advancing technology and proving the model works but then what’s the incentive to run it and popularize it because you’ve got that whole chicken and egg problem. We need a bunch of users for this to work efficiently, but we’re not going to make any money doing it. Hopefully, we’ll see how things play out in the next couple of months or years or decades.
I’m down for decades and a lot of failures. We’ll be there watching them saying we’ll help you if we can and hey, go and play guys, but come back here when it doesn’t work because we are going to be here.
What are your thoughts on Bitcoin dominance in general compared to all the other coins out in 2018? So, what does a cryptocurrency landscape look like if Bitcoin happens to fall down to, let’s say, 15\% or 10\% of the market?
Does Bitcoin really dominate or is it just big? If you look at the exchanges and watch the traffic, can you see as much traffic taking place and as much interest in the CoinCash or 21 Million or Kenya or any of these things? They’re all there and people are trading them for various reasons. Mom and pops are going to be doing this to buy a new car.
Someone else purely looking as a store of wealth and other people are looking to dominate a market. So, I’m not sure that you could say Bitcoin dominates. It might be the largest store of wealth at the moment. Does it dominate people’s thinking? I’m not sure about that. If you’re a coin developer, it’s your coin that’s dominant in your mind and you’ll go after a particular vertical, even a geographic market. So, you have the potential to develop your store or your story within that business scope.
Why does Bitcoin dominate? Simply because it was seen as an opportunity? Is it dominated because the people who trade in Bitcoin put so much faith in it being a store of wealth or an opportunity for capital gain? But a lot of those people have run away. That’s why it’s not $20,000 at the moment. It’s just trading between 8,000 and 10,000 in there. So, it stabilized. So, what if it fell over? Some people will lose money.
It’s not going to change the blockchain, it’s not going to change our thinking about cryptocurrencies. It’s not going to change Cryptopia’s approach to the market. It might dominate in volume. I’m not sure it’s the dominant force supporting cryptocurrencies.
I see what you’re saying. It might just be a dominance of user acquisition because there’s a larger chance they heard of Bitcoin instead of Ethereum if they have heard of cryptocurrency at all. So, it’s like the gateway crypto.
Take care that people aren’t saying Bitcoin just like a Hoover, the vacuum cleaner. Every vacuum cleaner for 20 years was called a Hoover. That was the dominant brand. Hey, I’m going to Hoover the floor. What they meant was I’m going to get my vacuum cleaner of which there are 80,000 different makes out there now and they’re going to vacuum the floor, but they just called it a Hoover. So, I trade in Bitcoin.
I’ll bet you someone who says, yeah, I trade Bitcoin, he’s only saying bitcoin because he knows or she knows that people understand that you’re referring to a cryptocurrency. If you say to someone I trade in Clearpoll or CoinMedic3, they have no clue what you’re talking about. They go what is that? Oh, it’s Bitcoin. Oh, I get it. If you went home to your mom and dad and they asked what are you doing? You’d say, oh yeah, I’m trading cryptocurrency. They’d go, oh? What’s what? You’d go, Bitcoin. They go, oh, that thing.
Bitcoin Cash is competing to be known as the Bitcoin for a reason. In the next four or five years, there are millions of people that haven’t even heard of crypto that would probably receive a lot of benefits from being onboarded into the cryptocurrency world. I’m not really sure how what they get onboarded to first matters immediately, but I know it plays a substantial role for a lot of people.
It’s an initiator. It’s a keyword that attracts them to the space that we’re in. It’s simply because it’s got brand dominance in the public persona. If you say a Bitcoin, most people know you’re talking about that strange online thing that no one understands and there are a few other coins, but we don’t know what their name is. As soon as they hit an exchange, if they really want to try it, they’re going to look at the next one down and say oh, I didn’t know that existed. They’ll make their way right to the bottom of the 2,000 list.
So, I really don’t think we should worry too much about dominance or anything that’s measured in that way in the space because the variables that change our value perception on any of these products is a mystery to everyone. A rumor can cause change overnight and things like that have happened. Guess what? They also happen in traditional exchanges.
Go to the London stock exchange and you’ll see a piece in the paper tomorrow that prices rocketed or have fallen over the next day because the public is there. The public is there late, remember. If you see it in the news, it has already happened. That’s the same thing for this.
So, what are your favorite projects out right now?
It has to be blockchain focused. I mean, coins seem to be a tool that are being used to raise capital, raise awareness, create hysteria over or some fun. Some of them, and I believe it’s very few of them, I wouldn’t like to statistically put a number on that, but I think it’s very, very few have actually got a basis of a typical good investment. Is company strong behind it? Do they have good ethics? Why are they doing this? What’s it for? Or is it just to raise money?
When they’ve got money they can go, oh, look how much money we’ve got. Let’s do something. That’s not the way to grow a business. Somebody has to have a good story that’s technically supported. It has to have social value these days. And that means is it good for mankind? Is it going to save the planet? Will it do something? Create manufacturing? Whatever it is.
Hey, I’m not a philanthropist. I’m not saying you’ve got to do something to save the planet. But the youth of today are much more conscious about anything we/they do is about social conscience and social values and responsibility. So, for me, any of those projects, whether they be blockchain based or coin based that do something more than just making money for a bunch of guys, so they can go buy a Lamborghini, gets more of a look and support from us than the others.
There are ways of going and creating wealth for yourself than preying on opportunities that exist simply because exchanges listed them. So, we’re very careful about that. So, I wouldn’t like to say at this stage, we have anyone in particular. We do have some businesses we’re looking at, but they all are very well rounded in terms of their sales pitch. It’s ethical, it’s got a good background.
They have strong management, a history. They’re well-funded already. They’re not just grabbing money to then decide what they’ll do with it.
Well said. The one point you made about how these projects need to be ethical and how that impacts those business models because again, you tap into to the same vein of projects that are looking to substantially change industries that had been stifled by inefficiencies or corruption.
It stretches a long way. If you find a solution that bugs business and usually if it bugs a business, it bugs and effects people, consumers, in some way. That might just be, where it’s blockchain related, securities and tracking things to make this whole trust environment that we live in. The point is we say we can trust but we can’t trust.
Everything we do is about trust. We get lawyers to look after our trust issues and we shake hands and we still wonder whether it’s a deal. So, solving trust issues globally is probably one of the biggest benefits to mankind because once we solve the trust issue, you can then be positive or confident that something that you want to happen and agreed to happen is actually going to happen. If it doesn’t happen, it’s not just about the broken trust. It’s then about the finances involved before you got there.
That’s all gone. The future has all gone around that business model. So, trust management in blockchain and around coins and around exchanges, decentralized exchanges, is probably the biggest thing we have to deal with. Which takes me back to my core development program right now, which is developing a trustworthy exchange.
Make it clear, unambiguous. Make it reliable, deliver what we said we were going to do.
What does a day in the life of Alan Booth look like? What do you do for fun when you’re not doing exchange type things? If there’s even time for fun.
If you’re running an exchange, it’s 26 hours a day to run an exchange. If you can squeeze another hour in, you might find some fun. This is probably my last employment opportunity. I’m in my 60’s. I’ve spent 50 years being an entrepreneur and an arm waver. Wave your arms and see who’s taking notice and make something happen.
So, fun for me is actually the exploitation of a business opportunity. I go to bed hoping that I wake up in the night with an idea to scribble on the pad. I come to work a very early. I’m up at 5 am. I get here at 7 am if I can with the work already done. I don’t want to arrive at work and look at emails. If you’re looking at email and other stuff, it’s other people’s requests on your time. I’m going to arrive here being creative.
I want to arrive every day going, I’ve got nothing to do except be creative and compel all of my employees and partners to support that creativity and bring their own creativity to it. So, you couldn’t have more fun than that, could you? What else is there? Just to make stuff and see people get excited and give them the opportunity.
But when I’m outside of this, hey, I liked to fly light aircrafts. I ride fast motorbikes. I do guy stuff, and when I’m not doing guy stuff, I’m at home helping my wife in the garden. Just an ordinary guy. Most of my daylight waking hours is about being that global entrepreneur with regard to this huge global opportunity which is let’s change the world.
It’s like moving from coal to steam, steam to mechanization, mechanization to electronics, and now we move into the digital age and we’re in it. What a fantastic place to be.
So, how exactly do you do that? Do you just wake up earlier and just get everything done at 5:00 AM?
There’s never enough time in the day. What it is, it’s being super critical about what’s actually important. If you open your email when you get to work, I will guarantee that you will sit there procrastinating and jump between emails. Most people don’t work from the top to the bottom or the bottom to the top. You’re a little bit selective, so already you failed to do what people expect you to. Email and inbound inquiry are other people’s expectations of how to use your time.
They’re imposing their requirements on you. So, you’ve already allowed yourself to be managed by outside rules. You’ve got to arrive at your office with nothing that interferes with the creative process of why am I at this office? Why did I come here? I came here to understand what we’ve got. So, that’s a constant job. To work with the clever people that you have employed. I have a major role in employment and myself. Only employ smarter people than yourself, only. Because if you’re employing people that aren’t smarter than you, you’re going to have to tell them what to do and you don’t have time for that.
Now, employing people smarter than yourself, for me, that sets the bar quite low, that’s easy, so I get really good pickings. But, generally speaking, you need to employ the best people and get them going and then you’ll be so busy running around trying to keep up with him, not them keeping up with you, that you actually have no time for all that outside noise. You’ve got to impose on the world what you want, not the world imposing on you what they want. Turn it around.
Every time I have a conversation with somebody, it’s about what I want, in the nicest possible way. We will listen to inbounds but we already have a path to follow. If you start following other people’s paths, you’re not going to get where you want to go.
Here’s the thing. I’ve been a business mentor for probably 20 years.
Mentoring basically new CEOs. New CEOs, it’s the loneliest job in the world because it might be your first CEO job, so you can’t talk down because those people below you expect you to be the boss, so you can’t ask them. You can’t talk up because you’re the CEO. It’s no good asking the board, they’re looking down at you. You can’t talk sideways because they’re your competitors. So, the first year or two as a new CEO is the loneliest place on the planet.
So, what you have to do is be entirely focused on what you need to get done and that is by changing what you used to do before you became a CEO or a boss. What you used to do is respond to every bit of noise that came at you and it filled your day up until you went nutty.
Thank you! Cryptopia CEO Alan Booth on the Cryptocurrency Exchange Realm
CoinCentral's owners, writers, and/or guest post authors may or may not have a vested interest in any of the above projects and businesses. None of the content on CoinCentral is investment advice nor is it a replacement for advice from a certified financial planner.

Alex Moskov

Alex is the Editor-in-Chief of CoinCentral. Alex also advises blockchain startups, enterprise organizations, and ICOs on content strategy, marketing, and business development. He also regrets not buying more Bitcoin back in 2012, just like you.
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