Changpeng Zhao's (CZ): From MacDonald's To Binance CEO, An inspired Story to Glean From.
Binance, Changpeng Zhao's exchange has been dominating the industry for over half a decade. While everyone is well-versed in using Binance, few are aware of its creator's journey to how he managed to create the killer crypto exchange that has become the crypto exchange for all.
CZ life before Binance
Changpeng Zhao or CZ [was born on the 1st of January, 1977 in Jiangsu, a Chinese province where his parents works as teachers at the local school. CZ parents were held in high regard by the community. During this period that CZ was still a child, China experienced stringent domestic policies and censorship measures. Zhao's father was accused of "pro-bourgeois intelligence," because he was an advocate of liberal ideology. In 1984, he got a job offer into the prestigious University of British Columbia, and five years later, the family successfully acquired a long-awaited family visa. Finally, Zhao, alongside her mother and elder sibling, embarked on their new life in Vancouver, where they would reside henceforth. https://monetka.blog/articles/cz-binance-changpeng-zhao/
Changpeng Zhao, with great determination, studied well at school and also excelled in volleyball, winning city competitions. However, his true passion was in computer technology, where he displayed a keen interest. Nevertheless, the trials of emigration made life challenging. Despite his parents' dedication to education, the family struggled to make ends meet. CZ, already in his teen, therefore sought for a job and got his first at McDonald’s, and at a gas station.
Years after that CZ got an opportunity to meet Rger Ver, the then Bitcoin Cash top promoter. He was invited to join a team of developers for a new Blockchain project called Blockchain.info where he made a great contribution to the success of the project. CZ relationship with Roger Ver couldn't continue much due to a disagreement between the two over the future of the project. Hence, CZ parted from the project to face a new challenge in life.
The next turning moment of CZ life came in 2014, when he got an offer to join OKcoin, the largest Chinese exchange at the time. CZ would only spend one year with OKcoin as the exchange management couldn't agree with his ideas of business expansion. Being ambitious and full of ideas, CZ started crafting his long time ambition into reality. He begins working on creating what we now know as Binance.
Interesting, in that same year that CZ started working out the Binance plans, he sold his house for$600, and invested the money in Bitcoin. Unfortunately, Bitcoin crashed at the time bringing his investment value down to $200.
That may look like something discouraging, but not with someone as determined as CZ. The experience become an inspiration for him, when he told the world about it. In his words, CZ said: “I would like to tell you my story from 2015, when BTC “collapsed” to $200, and a few months before that I sold my house and bought bitcoin at $600. And as you can see, I’m still here.”
The Genesis of Binance
As at 2017, exchanges interfaces were "clunky" and the crypto exchange market were not user-friendly. Additionally, systems were slow and there was a lack of customer support. Websites were breaking down as the price of bitcoin rose and users flocked to the market.
After a careful assessment the situation, Changpeng Zhao reached the conclusion that there is room for improvement in increasing the transaction speed or exchange rate, enhancing the user interface, and lowering fees. His goal is to create a customer-centric product. Furthermore, the plan includes facilitating smooth cryptocurrency-to-cryptocurrency swap and implementing mobile support to attract a worldwide user base. Thus Binance was born.
Based on the conditions of exchanges at the time, Changpeng Zhao initiatives were revolutionary, creating an unprecedented event. To top it up all, Binance, introduced the BNB token, the first of its kinds as an exchange owned token. A unique initiative unmatched by any other exchange.
How Much Did Changpeng Zhao Invested In Binance as a start up capital?
Changpeng Zhao invested $10,000 of his personal funds into the Binance project before anything else. However, before the official launch of the exchange, Binance sold BNB through an Initial Coin Offering (ICO) where they raised approximately $15 million. BNB was created to be used as transaction fees within the exchange. The initiative established Binance as the first exchange to be funded through an ICO.
In just half a year of debuting, Binance become the dominant force in the crypto space. Bitfinex, Poloniex, and Bitrex, once considered untouchable, faded into obscurity. The number of users grew rapidly, with a staggering daily turnover of over $11 billion. Binance effortlessly claimed the title of the world's leading crypto exchange, with its BNB Coin token joining the ranks of the top 20 cryptocurrencies. At that time, the crypto platform only had 4% of the stock exchange's workforce. Interestingly, the team at that time was made up of CZ's former coworkers and colleagues, whom he persuaded to join him. Presently, the staff has grown to around 8000 workforce before the layoff of around 100 workers a month ago. https://www.google.com/amp/s/www.cnbc.com/amp/2023/01/11/binance-plans-15-30percent-hiring-spree-in-2023-even-as-rivals-cut-jobs.html
Interesting, Binance do not have any physical office anywhere until recent years due to regulations pressure and frequency of attacks against the exchange and Changpeng Zhao its founder. And, it's more interesting to know that, no other crypto exchanges have been subjected to governments scrutiny and accusations than Binance and its CEO. But, in all these, Changpeng Zhao seems to master the game of how to come back stronger after every attack. https://cryptoblake.substack.com/p/the-binance-story-what-are-papercuts
Changpeng Zhao's extraordinary journey as an entrepreneur serves as a testament to the remarkable talent of the Chinese in converting ordinary tasks into multi-billion dollar enterprises. The trail of victories he has left behind is an inspiration for anyone striving to surmount obstacles and achieve their entrepreneurial aspirations.
Final Thought
The story of Changpeng Zhao, from a nobody at McDonald's, rising to become the CEO of Binance and leading the crypto industry is truly inspiring for everyone. His journey serves as an excellent role model for the next generation of business leaders. The sky is the limit when it comes to achieving one's dreams, as long as there is unwavering determination.
Changpeng Zhao is no only the number one but also the most vocal in the crypto space. Against all odds, he has defied expectations to become one of the space's most influential figures. Binance Cryptocurrency Exchange could be said to be the largest crypto exchange in the world reaching over 89.5 million users in August 2023, and its coin BNB now has a market cap of over $37B. https://www.banklesstimes.com/binance-statistics/
As we conclude, I would like to add this: At the end of the day, it's important to remember that originality is key. Rather than sampling the same old routines, it's more advantageous to think outside the box. When expressing yourself, don't be afraid to break free from the norm. In a world full of duplicates, be the distinctive voice that stands out from the crowd. Embrace your individuality and let your uniqueness shine brightly. So, as we try to stop the ink from flowing, remember to be authentic in everything you do.
Article originally Posted on LeoFinance. https://leofinance.io/@fexonice/changpeng-zhaos-cz-from-macdonalds-to-binance-ceo-an-inspired-story-to-glean-from-
Grass Token Free Passive Income Opportunity For Internet Users
Grass is the new cryptocurrency that has been designed to reward people for their internet Data through the Wynd network. https://app.getgrass.io/register/?referralCode=SkLWXdTwu1fexRj
As the internet data war goes parabolic, Wynd network is introducing grass in a bid to democratize the internet from which the data is being harvested. Instead of Microsoft harvesting the data for free, and Reddit and Facebook selling it to enrich themselves, there is a third option that allows the public to jointly capture the rails by which giant tech companies acquire information, and share the proceeds with the public. That third party is grass.
Whether we like it or not, internet data harvesting by big tech companies is the new global industry, and those people do not need your consent to harvest your data. But, grass is here to change that.
The Wynd network offer a way for users to sell their unused bandwidth for use in web scraping and receive a fair price on Grass token for it. These people go beyond the limitations that big tech companies like Microsoft has put to work its business model that allows ordinary people to share from the money those AI labs companies are pouring into the Data wars.
With Wynd Network, any time AI developers want to scrap a website to train their AI, they go to the Wynd network to extract the data they need. Wynd network can then share the proceeds of that scrape with the users who had created the Data.
[Grass] works with Wynd network to give data users a fair share of the data mined from their unused internet data, and to create the first network that collects the profits from big tech companies data-sharing practices. https://app.getgrass.io/register/?referralCode=SkLWXdTwu1fexRj
Grass offers something different from existing proxy networks. The Grass ecosystem is decentralized, and transparent in its revenue sharing model. Whereas centralized proxy networks share from the proceeds paid for the users' data, the grass network distribute 100% of the earnings generated directly to the data generators.
Users will receive Grass tokens as payment for sharing their internet data through Grass network. These tokens can be exchanged in various ways for cash out on the Wynd network.
**Signing up for grass**
Grass work as a web extension. It was designed to go alongside the Wynd web application to help people collect their internet data.
To sign up on grass enter your email address and password in the sign up page on the [grass website] https://app.getgrass.io/register/?referralCode=SkLWXdTwu1fexRj
You will then receive a confirmation email, This email contains a link that will lead to the grass dashboard. But, before you start earning you will need to download the web extension.
For desktop users, the extension work on chrome, while mobile users can download the extension on either kiwi or safari browsers.
Once the extension is downloaded click on it, to open and it will start working and mining grass for sharing your internet data.
**3 Features that makes Grass unique**
1. Ethical
By design, the grass network is set up to make it easy to share your data while maintaining the highest standards of transparency. The grass app built around the web extension gives users the power to share their data and transfer back the proceeds to their rightful owners. https://getgrass.medium.com/grass-101-6e91e512aae3
2. Decentralized
By working with Wynd, the grass team set a new standard for global data sharing practices. By going Decentralized they prevent the inherent danger of having a few companies controlling vast amounts of user data.
3. Democratized
grass was designed to be free for users, while empowering the collective working towards a common goal. The tokens distributed through the Wynd network are democratizing the network giving ownership to every user who is empowered to contribute their internet data for earning.
The Wynd network was launched a few weeks ago, and still in the beta stage. So, Wynd hopes that the use of grass as a web extension for its system will bring a new wave of blockchain based data sharing practices to the world.
Anyone who join today is an early bird who gets a chance to earn a large portion of the data income when the payout option is live.
How much can you earn
According to the information on the Grass website, a user of the Wynd network who collects Grass points by using the internet daily can earn an average of $100 worth of Grass Tokens in a month. Users with multiple devices can double that amount.
The Grass network Wynd, allows users to connect a single account to multiple devices with different internet network. Also, referral benefits can increase earning for users.
Since Grass is just laughed, everyone who joined now have a chance to earn more grass Tokens from referral before it becomes popular.
**Conclusion**
The internet data wars have reached a point where, every human being can become a commodity to the companies developing these artificial intelligence software. It is a world of data intensive business model where, giant tech companies are manipulating our behavior to collect more and more data and resell the right to use it to others.
With the Wynd network, the users can take back control of their data and earn a passive income for the data they share on the internet continuously . grass will give people the opportunity to change the game. The Wynd and grass blockchain network promise users to become part of this new wave of data sharing and ownership.
For more information about Grass visit the website from the [link] https://app.getgrass.io/register/?referralCode=SkLWXdTwu1fexRj
If you encounter any difficulty in signing up, do not hesitate to reach out to me via the comments section.
Good luck to your grind!
The Future of Web3 Borrowing: Tokenizing Physical Assets with 4kprotocol And Arcade
The future of web3 lending and borrowing with real world Assets is gradually shaping out with 4KProtocol and Arcade leading the pack and into a whole new digital era in the lending space. This new open source protocol and application, designed by 4KProtocol and Arcade, is unique as it allows individual to turn their physical Assets into an NFT to obtain a loan on the blockchain which can be retrieved back when the borrower refund the money borrowed with the interest accrue on the loan, or when defaulted. https://t.co/VnDFgxqN3k http://arcade.xyz/
These combined protocols allows web3 users to use their real world Assets to obtain loans by having the Assets minted into NFTs on the blockchain which can be used a real representation of the physical Assets, hence the name “tokenizing physical assets”. This new application is unique as it solves the problem of trust, protecting the borrower for the trading of digital assets and credits using NFTs and Asset Exchange APIs.
Moreover, the applications also eliminate the problem of distance, because the borrower and the lender doesn't need to know each other or meet physically since everything is done on the Blockchain. The lender do not need to see the physical Asset before lending money, the NFT serves as an authentic digital representation of the Asset which has detailed instructions for the lending and the borrowing, therefore, by doing away with physical accessibility it creates a new and different decentralized peer to peer lending environment that is secure and frictionless.
A real world asset used to be a trade credit or for a borrower to obtain loans. The banks and lending market is also seen as problematic, as there was no platform for lenders to easily assess borrowers' credit risk for making a lending decision, thus making the process time consuming and prone to fraud and error.
4KProtocol is a very innovative and secure platform and application where users can link up their assets on the Blockchain to mint them into NFTs and get a loan in fiat or crypto money. Arcade the lending and borrowing platform is where borrowers meet lenders, and where borrowers can list and manage the NFTs that represent their assets for getting loans.
How the system works
The starting point is for an individual who wants to get a loan with his physical Asset to mint the Asset into NFTs. To do that, the person send the Assets to an escrow company which in this case is 4KProtocol. The Asset are then turned into an NFT that represents ownership of the Asset and sent it back to the person.
The person list the NFT on Arcade to get a loan that he needed. Lenders can bid for the borrower's NFT asset, and the best offer accepted. Once the loan is facilitated, the NFT is then transferred to an escrow wallet until the borrowing term is up for repayment. The borrower can then redeem the asset back from the escrow wallet after repaying the loan.
However, to get the asset back in it physical state, the NFT has to be burnt and the owner can collect the asset from the escrow company. But, if the borrower defaulted, the lender can collect the physical asset and sell it anywhere and make their money back.
A current lending that took place on Arcade can be used as an example here. A user needs a loan of $35k at 12% APR for his Patek Phillipe watch as collateral. He therefore sent the watch to 4KProtocol, the escrow company who then mint the watch into NFT and sent it back to the owner. https://twitter.com/CirrusNFT/status/1678502614730936320?s=20
This guy then listed the NFT on Arcade with the borrowing terms for lenders to place their biddings. He then accepted the best loan offer from the bidders. Then NFT was immediately transfer to an escrow wallet as soon as the loan offer was accepted until the term is up or the borrower repays. The acceptance of the loan offer automatically transfer the funds to the borrower's wallet on the platform.
The lender does not even need to know the borrower's name; all they need to know is that they are the lawful owner of the watch, which the NFT verifies through the Arcade Smart Contract. So, the borrower can take out loans from several people, each using NFT assets as collateral, who get paid back at the same time via Arcade. https://leofinance.io/@leoglossary/leoglossary-smart-contract
**The risks**
The developers must very well aware of the risks involved, as there could be possibility that the platform can be hacked. As it is not open source, there are bound to be vulnerabilities. Therefore, it is an industry and a technology requires a lot of efforts and energy to be made, so, a user must be aware of the risk. https://leofinance.io/@leoglossary/leoglossary-open-source
Nonetheless, Arcade and 4KProtocol are seen as the best option in this space. The novelty of the products is making them unique and leaving a lot of users eager to get into the field.
Sure, you can just go to your local bank to get a loan, but having your asset before a global liquidity providers versus local liquidity providers to get that loan makes Arcade the top alternative here.
This market is still young, so we aren't there yet, but there is a lot of opportunity to be grabbed by those who are keen on seeing their assets as collateral for them to get loans from anywhere and everywhere.
If you are looking for a loan and you have a valuable real physical Assets like watches, jewelries, shoes, 4KProtocol and Arcade can be very good option for you to get the loan to fulfill your dreams.
**Conclusion**
We must give credit to 4KProtocol and Arcade for pushing the boundaries and making this kind of unconventional business possible in the web3. They are working as a catalyst that leads the industry where it needs to be going, and we are sure they will put a lot of efforts to make sure this market becomes a success, paving the way for other similar businesses to come into the industry.
This is just the tip of the iceberg for whats to come for proving ownership of Real World Assets using NFTs.
What do you think about using real world Asset NFT for lending business? Let us know in the comments below.
For more details about this subject check out the 4KProtocol and Arcade platforms. https://t.co/VnDFgxqN3k http://arcade.xyz/
Reference links: 4KProtocol and Arcade. Other references from Leoglossary.
Wall Street Institutions Entering Bitcoin: Is This Healthy for the Crypto Market?
The crypto market is experiencing a surge of interest and credibility, as traditional banking and Wall Street institutions, along with major players in the financial sector like Fidelity Investment and Blackrock, are starting to explore Bitcoin. This is a noteworthy shift, but it raises the question: is the development healthy for the crypto market?
The arrival of Wall Street banking institutions into the Bitcoin market has its pros and cons. While they do bring added stability and liquidity, which helps with wild price swings, on the other hand, it can also be disadvantageous. But it’s not all bad news. Institutional players bring with them deep pockets and experienced experts, which can benefit the crypto industry in many ways. Think market research, new financial products, and better security measures. All of this can entice more retail investors and make cryptocurrencies all the more legitimate. https://decrypt.co/146212/wall-street-coming-for-crypto?amp=1
Wall Street institutions acceptance of Bitcoin points to a growing recognition of its potential as an investment asset. This heightened attention could accelerate its acceptance among the general public, causing a surge in demand and subsequent price increases. This would be advantageous for those who got in early and held onto their Bitcoin for the long term. Additionally, institutional investors typically have a longer investment timeline than individual traders. As a result, their involvement in the market could bring stability and ensure sustained growth over time.
On the other hand, doubters claim that the participation of Wall Street entities could potentially jeopardize the decentralized essence of Bitcoin and other digital currencies. Bitcoin's original purpose was to create a cash system that allows direct transactions between individuals, with the intention of eliminating intermediaries and centralized authority. However, with Wall Street's involvement, skeptics worry that the fundamental principles of cryptocurrencies might be compromised, resulting in greater centralization and the emergence of possible monopolies. This, in turn, could limit opportunities for newcomers in the market, contradicting the foundational values of cryptocurrency as an democratized financial system. https://fortune.com/crypto/2023/06/27/blackrock-bitcoin-spot-etf-wall-street-influence/amp/
The participation of Wall Street can bring up concerns about the possibility of market manipulation in the crypto market. Volatility is already a characteristic of this market, but the entrance of institutional investors on a large scale could make price swings even more advantageous to them. The financial might of these institutions, combined with their proficiency in intricate trading methods, could pose a challenge for small retail investors to maneuver. Such a power imbalance may create an uneven playing field, obstructing the establishment of fair and transparent markets.
With institutional involvement in the crypto industry on the rise, the likelihood of regulators increasing scrutiny is becoming a concern. Unlike traditional financial markets, cryptocurrencies have historically operated with fewer regulations. However, this is changing as policymakers and regulators are now focusing their attention on the crypto space. While this may enhance market integrity and safeguard investors, excessive regulations could bare innovation and hinder the growth potential of Bitcoin.
There is also concern of a Bitcoin fork if these Wall Street titans have a larger stake in Bitcoin. In the event that Blackrock has 15 million Bitcoin before the fork, they will most likely sell 15 million of the other coin in the fork, which in this scenario is Bitcoin. Such a case would be extremely damaging to the Bitcoin market.
If these banks used basic traditional backing techniques in their crypto operations, hepothecation may occur. Hypothecation occurs when an asset owner decides to use his asset as collateral for a loan. This may appear to be standard borrowing and lending, but there is much more to it. Consider the following scenario: Where an asset owner, for example, need 100 million dollars and a lender agrees to lend the money with Bitcoin worth the amount as security. https://www.investopedia.com/terms/h/hypothecation.asp
The lender may decide to rehypothecate the asset in order to borrow money for other purposes. If this process of rehypothecation is repeated five times, who will be the custodian of the asset if reinbusement is required or if an institution fails? https://www.investopedia.com/terms/r/rehypothecation.asp
Because the asset has been rehypothecated 5 times, there will be a flood of claims. Such a scenario can result in a significant downturn.
In conclusion, the entrance of Wall Street institutions into the Bitcoin market has both positive and bad consequences for the broader crypto market. On the one hand, their participation could give stability, higher liquidity, and possible long-term growth opportunities, all of which can help the market as a whole. Their acceptance of Bitcoin as a legitimate investment asset will also contributes to its widespread adoption. However, concerns about centralization, market manipulation, excessive regulation, and others could not be ignored, because they potentially call into question the fundamental principles of cryptocurrencies.
At this point, it is critical for crypto investors to strike a careful balance between using these institutions' products and retaining cryptocurrency's decentralized nature. As the crypto market continues to evolve, it is crucial for investors to pay close attention to the impact of Wall Street institutions dealing in the Bitcoin market. To be forewarned is to be prepared!
6 Reasons Why BCH is Suddenly On The Rise
What might be the cause of the sudden uptick in Bitcoin Cash (BCH) price, which has surged up to 170% in recent days? This remarkable increase has left investors and analysts puzzled. The value of BCH had been relatively stable, trading within a narrow range. However, the cryptocurrency has now witnessed a significant rise in value. Let's briefly examine 6 potential factors that may be contributing to this surge.
1. The growing merchants adoption of BCH
Over the past few months, several big merchants and smaller businesses have been jumping on the BCH bandwagon. They've been embracing BCH's advantages of speedy processing and lower fees (compared to Bitcoin). This move has allowed them to slash their costs and accept payments from non-traditional currency users. The merchants' adoption rate for BCH grows almost everyday. For example, three days ago, Velocity 21 begin accepting BCH for payment. Also, a day ago King Kababs and Coffee started accepting BCH for payment. These are only a few of the many examples of merchants that are now accepting BCH. It's noteworthy that North QueenLand and ST kitts and Nevis are leading in the BCH economy with almost the cities taken over by merchants accepting BCH for payment. https://news.bitcoin.com/bch-merchant-4300-bitcoin-cash/ https://www.reddit.com/r/btc/comments/14jc3rz/woah_velocity_21_accepting_bitcoin_cash_great_to/?utm_source=share&utm_medium=android_app&utm_name=androidcss&utm_term=1&utm_content=share_button https://www.reddit.com/r/btc/comments/14kyzfn/yes_kings_kebabs_and_coffee_now_accepting_bitcoin/?utm_source=share&utm_medium=android_app&utm_name=androidcss&utm_term=1&utm_content=share_button
2. The launch of CashToken on the Bitcoin cash chain
CashToken is the newest development on the Bitcoin cash chain with Defi capabilities that was released just a few weeks ago. There's a heavy cash flow into CashToken as investors try to take advantage of early birds syndrome to maximize their profit potentials. Since smartBCH is yet to come out of water, most smartBCH projects and their investors migrated to CastToken bringing in fresh cash flow for their projects. https://coinmarketcap.com/alexandria/glossary/cashtoken
3. Bitcoin Lightning Network failure
This is another factor that may have contributed to the sudden rise in the price of BCH in recent weeks. The Lightning Network is an experimental layer for Bitcoin to enable fast withdrawal between Bitcoin addresses without requiring additional storage space. However, the Bitcoin Lightning Network has plagued with many setbacks, and failed to meet the expectations of the investors.
How this relate to BCH price may look confusing at first but it's very simple to understand. At a time Bitcoin price is picking up, short term investors need a cheaper way to transfer Assets. BCH served this purpose perfectly as Bitcoin-Cash brings down the cost of transacting and speed as the same time. This obviously contributed to the recent surge in BCH price.
4. $500k BCH repurchased by the smartBCH foundation
Although many people are not aware of this, smartBCH foundation is an organization with a legal backing to revive the rugged smartBCH EVM chain, and a mandate to restore the stolen funds for the backing of a new decentralized bridge for the Defi chain. The 500k BCH was recently repurchased at the open market, thus giving a spike to the price. It's rumored that the repurchase was facilitated through exchanges such as Bit.com. The repurchase (high volume) also contributed to the spike in BCH price.
5. Blackrock included BCH in their ETF filling
The Brackrock ETF filling is no longer news, but what most people don't know about is that BCH is one of the cryptocurrencies which was selected for inclusion in the ETF. Blackrock list Coinbase as the custodian for assets and pricing data. BCH is currently trading in volume on Coinbase. https://www.investopedia.com/blackrock-files-for-a-spot-bitcoin-etf-7547609
Blackrock is one of the world's largest asset management company. They specialize in investing in traditional asset classes, such as shares and bonds. Investors are filling up their BCH bags waiting for the full, glorious ETF launch which we believe will happen soon.
6. EDX Exchange listing of BCH
This is the biggest one, and the only news related to BCH that most people are aware of. EDX is a new crypto exchange that has gained a huge support from The Wall Street top institutions including Fidelity investment, Citadel Securities, and Charles Schwab. EDX Market was launched a few days ago, with BCH/USD as one of the major trading pair. The inclusion of BCH in such a platform that has the support of reputable investment institutions is one of the biggest reasons for the sharp spike in BCH price. https://financefeeds.com/edx-markets-goes-live-with-non-custodial-crypto-exchange-owned-by-biggest-names/
The significance of the EDX listing is huge for BCH. On one hand, it signal the end of BCH being considered a clone of BTC; on the other hand, BCH trading in a Wall Street giants supported exchange laid to rest the argument about its legitimacy and real potential in the Crypto world. https://www.google.com/amp/s/fortune.com/crypto/2023/06/27/bitcoin-cash-more-than-doubles-after-being-offered-by-new-exchange-edx-markets/amp/
Nonetheless, It is important to mention whether this is just a short-term spike is yet unclear, what is clear now is that BCH is in the limelight again after a very long time in limbo land.
Conclusion
We believe this could be just the start for the rise of the BCH price. It is also important to note that some other factors that are mentioned in this write up could also have contributory effects for the rise of BCH.
We may see a sustained rise of BCH price after these events but these cannot be ascertained at this point.
If you think there are other factors for the rise of BCH price you can leave a comment below.
Can we give them a round of applause, please?
I have been away from readcash for quite some time now. Even when I am hundred percent aware that Rusty is still doing its job in the little way it can for the time being, I didn't have the motivation to make a post here. I was using the time to focus on building my presence on the Hive blogging platform.
The last time I posted here was early last month or so, and it was a cross-post for formality. Due to the penny drops from Rusty which has been also not consistent, many people felt demotivated to continue writing here and move on with their lives or look for alternative blogging platforms that meet their desires. I must confess that I am among the latter.
Meanwhile, I have observed that there is a new Rusty that has been consistent in dishing out rewards to committed writers on the platform. This Rusty does not just give upvotes but also communicates with writers and motivates them along with prompts and writing challenges to win prizes. The Rusty I am talking about is human in the person of @Coolmidwestguy
This guy seems to me to be singlehandedly holding the platform and bringing writers together with his generosity. His daily, weekly, and monthly prompts and challenges that come with reward prices have been a major source of motivation for some writers. And, I think this guy deserves a round of applause from everyone who loves the readcash platform.
The presence and contagious effects of someone like @Coolmidwestguy at this time on a platform such as readcash make me see a second chance of recovering the lost value of the platform. This type of Rusty can help the site to evolve into a future version that one can aspire to be a part of in the long run.
If I have the right of recommendation for this platform at a time like this, I will ask that a certain function be given to this guy at the back office of the platform. He is certainly worth it. The majority of the articles that I see on the platform home page were from writers that are motivated by the kindness of @Coolmidwestguy.
Go ahead and drop him a compliment on his rekindled spirit of sharing his insight, guidance, and monetary support for writers for their commitments. This guy has a heart of gold that only a few people has. And I do not believe that he's doing what he is doing because he's rich. After all, it is said that it is always better to give than to receive. This is the way I wish the readcash platform to go. Please let's give @Coolmidwestguy a round of applause!
I will also like to mention another guy that is taking the same path in the way of giving back to the platform. This guy is the person of @Amjad_Ali_Waince Amjad is one of the consistent writers on the platform, and even when there are no more upvotes from Rusty he never ceased from writing consistently. I have seen him making giveaway events for writers on the platform to motivate and pull them forward.
Amjad is my friend with who we have worked together on other platforms, and I know that he also enjoys the fact that people have started writing and reading more articles on the platform.
A round of applause to you my friend @Amjad_Ali_Waince for choosing to take the driver's seat on the readcash train.
Much love to you guys!
The lead image created using Adobe Express.
Polygon zk-EVM bringing Ethereum to everyone
Let's start by defining what [zk-EVM](https://blog.chain.link/zkevm/) is all about. zk-EVM is an acronym of Zero Knowledge Ethereum Virtual Machine . It is a cryptographic technology that allows smart contract computation to be verified without revealing the actual data that was used to perform the computation.
The zk-EVM is intended to increase the secrecy and confidentiality of smart contract computation while simultaneously enhancing the Ethereum network's scalability and effectiveness.
The foundation of the zk-EVM is [zk-SNARKs](https://consensys.net/blog/developers/introduction-to-zk-snarks/), a sort of zero knowledge proof that enables a prover to demonstrate knowledge of a secret without disclosing any information about it.
By minimizing the quantity of data that needs to be processed and stored on the blockchain, zk-EVM usage can increase the scalability of the Ethereum network. The quantity of data that has to be stored on the blockchain is decreased by using zero knowledge proofs, which only require a modest proof size to confirm a smart contract computation's accuracy.
In addition, [zk-EVM](https://blog.chain.link/zkevm/) can boost the effectiveness of smart contract computations by enabling them to be carried out off-chain. These computations can then be verified using zk-SNARKs (zero knowledge succinct non-interactive Argument of knowledge), which lowers the computational burden on the Ethereum network and speeds up transaction processing.
**What is Polygon zk-EVM?**
[Polygon zk-EVM](https://polygon.technology/polygon-zkevm) is a technology that makes Ethereum run faster and cheaper. It is a tool that improves Ethereum by working with it. A few days ago, the Polygon zk-EVM mainnet beta was made available, and Vitalik Buterin, the creator of Ethereum, was one of the first users to test the system.
People can use the same dapps and utilities they use on Ethereum with Polygon zk-EVM, but with greater performance and at a lesser cost. Developers are able to upload their current codes to the Polygon zk-EVM. Also, customers can load their Ethereum digital assets onto the Polygon zk-EVM and conduct transactions there with greater efficiency and at a reduced cost.
These transactions are grouped together and then verified as correct using a unique technique known as a zero-knowledge proof. This prevents the theft of property belonging to others. With Polygon zk-EVM, Ethereum can operate quicker and more cheaply while retaining its security.
Anyone can utilize Ethereum with Polygon zk-EVM without having to pay excessive fees or wait a long time for transactions to be processed. This makes Ethereum more accessible and efficient for everyone.
Lead image redesigned by me using Adobe express.
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Can CHATGPT destroy human genius?
Ever since the release of ChatGPT, the internet has been bamboozled with products created on top of the technology, so much so that now, even Google and other major internet giants are considering adopting the technology. However, there is a consensus that AI will retire humans from their jobs, especially content writers.
Nevertheless, I still feel that AI cannot be able to destroy human genius for several reasons.
Firstly, AI is still in its infancy and it has a long way to go before it can match the level of human genius.
Second, AI cannot think outside the box as humans do. It is programmed to work within certain parameters and if those parameters are not met it will fail. That's why you keep seeing repetition in AI written content.
Thirdly, AI cannot create something out of nothing like humans can. It is limited to the data it has been fed and if that data is not enough then it will fail. AI cannot understand the nuances of human language like humans can. It's limited to what it has been programmed and the limit of such programming is the limit it can perform.
Fourthly, AI cannot understand emotions or feelings which are essential for creativity and innovation. Humans have an innate ability to think outside the box and come up with creative solutions to problems.
Finally, AI cannot replace the human touch which is essential for any kind of work. Humans have an innate ability to connect with people and understand their needs better than machines can ever do. This is why humans are still superior when it comes to customer service or any kind of work that requires a human touch.
In conclusion, AI may be able to do certain tasks better and faster than humans but it cannot replace the genius in us. We still have an edge over machines when it comes to creativity and innovation. So, while AI can help us automate certain processes, it cannot replace the genius in us.
Article published first on my Hive account.
Lead image source. https://www.istockphoto.com/photo/robotic-hand-pressing-a-keyboard-on-a-laptop-3d-rendering-gm1418475387-465137710?utm_source=unsplash&utm_medium=affiliate&utm_campaign=srp_photos_top&utm_content=https%3A%2F%2Funsplash.com%2Fs%2Fphotos%2Frobot&utm_term=robot%3A%3A%3A
https://t.me/AIT_AIRDROP_BOT?start=bMKbVnqz3
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The SEC cracking down on crypto and exchanges, how long will this end?
The crypto world has been in a state of flux lately, with the SEC cracking down on exchanges and crypto-related businesses. In the last 72 hours alone, Coinbase received a Wells notice from the SEC (notice of intent to sue), and the Binance exchange suffer lampooned by the media and financial regulators over security breaches on the exchange KYC systems by the Chinese customers.
A few weeks ago, precisely on the third of March, UK banks Nationwide and HSBC took a sweeping on their customers by prohibiting them from making a crypto purchase with their bank cards. Meanwhile, Binance recently lost a representative in the UK and is still looking for a replacement. Furthermore, the giant exchange Kraken lost the ability to accept bank transfers, and there is even a lawsuit against Tron founder Justin Sun currently making the wave in the media.
The SEC is taking a much hard stance on cryptocurrency exchanges and the crypto industry as a whole since the collapse of FTX back in November last year. But how long will this last? Will this crackdown continue indefinitely, or is it a short-term measure to force the exchanges and crypto promoters to shape up?
The truth is that no one knows for sure. The SEC has been notoriously tight-lipped about its plans for the crypto industry, and it's impossible to predict how long this crackdown will last. What is evident now is that the SEC has made it clear that they are taking a hard stance on exchanges and Cryptocurrency in general.
They have already issued writs to several major exchanges including Coinbase, and other crypto-related activities. The issuance of these subpoenas is not just a warning but an initiation for long-term litigation with those exchanges and crypto-related businesses.
This crackdown has already had a major impact on the crypto world. Exchanges have been forced to change their policies and procedures to comply with regulations, why investors and becoming wary of the whole situation.
This could lead to a decrease in the number of people investing in crypto, which could have negative effects on the crypto market as a whole.
It's also worth noting that this crackdown is not limited to exchanges and other crypto-related businesses. The SEC has also been cracking down on ICOs. This could lead to people not being interested in ICOs due to a fear of the SEC cracking down on such initiatives.
At this point, it's impossible to predict the direction that the SEC is heading with all these cracking down on exchanges and Cryptocurrency. No one can tell what next to expect, only time will tell.
In the meantime, investors need to remain vigilant and be aware of the risks of leaving their assets in exchanges at a time like this. It's also important to remember that the crypto industry is still in its infancy, and it will take time for regulators to catch up with the technology that powers crypto. Until then, investors should be prepared for more regulatory scrutiny and potential losses due to crackdowns.
In conclusion, the SEC crackdown on crypto and exchanges is a reminder that exchanges are not fully safe for keeping assets. Investors need to be aware of the risks associated with investing in this space, and as well be prepared to face more crackdowns and regulatory security in the future.
The lead image was redesigned using Adobe express.
Binance staffs helping Chinese customers manipulate KYC security systems
Binance is on the news again, this time for an allegation of a security breach on its KYC system. The Binance founder Changpeng "CZ" Zhao has compromised the exchange's know-your-customer (KYC) system.
A report on the media indicates that Binance is allowing customers who are not supposed to use the platform by legal restrictions to bypass KYC protocol secretly. https://www.cnbc.com/2023/03/23/binance-employees-volunteers-tell-users-how-to-evade-china-crypto-ban.html
It is on record that China citizens are not allowed to trade Cryptocurrency due to the ban on exchanges and Cryptocurrency in the country. However, Binance customers in China still find ways to subvert the Binance security control to hide their identities such as country of origin, fake bank details, etc. This revelation was discovered in Binance's official Chinese chatrooms.
A CNBC report that revealed the shocking revelation disclosed that hundreds of messages from Binance's Chinese community chatrooms on discord and telegram were obtained and reviewed where the security breaches were discovered.
According to CNBC, the messages reviewed came from Binance employees' accounts or Binance-trained representatives known as "Angels" The findings on the messages revealed the discussion about the different methods that can be used to bypass Binance's KYC, residency, and other verification systems.
Some of the techniques that Binance's employees and representatives were found to have shared with the Chinese customers involved how to fake documents, forging bank accounts, and residency addresses, and other ways to manipulate the Binance security systems.
These Binance employees and representatives went as far as sharing tutorial video guides and text documents that teach those Chinese customers how to falsify their credentials to obtain Binance cards that can turn their Binance accounts into conventional checking accounts.
This is a great risk the Chinese users are putting themselves into, and the Binance founder is fingered for aiding this illegality. Crypto exchanges have been banned in China since 2017, while a total ban on anything related to cryptocurrency was pronounced in 2021. Crypto products are illegal in China, and these are what the Chinese residents are trying to access through Binance illegally.
This discovery call into question the effectiveness of Binance's anti-money-laundering efforts. Platforms such as Binance with international business coverage shouldn't take security lightly, because KYC and anti-money-laundering efforts are crucial to curtailing customers' illegalities and the prevention of fraud or terrorism.
This discovery has placed Binance in a bad position, and experts in financial regulation and worried that Binance's KYC and security systems can be so easily manipulated.
The lead image was designed using Adobe express.
What do you think about this discovery?
The negative effects of AI-generated art on the NFT market
Looking at the NFT ecosystem today, it is easy to see how AI-generated art has taken the world by storm. With AI-generated art, it is now possible to create masterpieces of art without much labor. The ease of creation and infinite possibilities offered by AI has made it a popular tool for anyone to jump into the NFT business around the world. But what does this mean for genuine artists and the NFT market?
Firstly, the proliferation of AI-generated art has brought accessibility and freedom of participation to the NFT market, allowing anyone to participate in the booming economy.
However, it has also led to a saturation of the market with low-quality Artwork flooding the space. This oversaturation has caused a devaluation of genuine human-created art and has made it harder for artists to stand out and sell their work at fair prices.
The easy availability of AI-generated art has taken away from the uniqueness and rarity that NFTs are known for, making it difficult for investors to differentiate between human-created art and low-quality AI-generated pieces.
Furthermore, the dependence on AI for NFT creation could lead to a case of homogenization of the NFT market, where every artwork has the same feel and artistic touch. This in effect results in less diversity in artistic styles and creativity. This could slow down innovation and hinder progress in the art world.
Where there's less competition, there won't be innovation, and that also means there will be no progress.
Moreover, bad actors now have easy access to the NFT market with their AI-generated art looking for quick money grabs from their uncoordinated projects.
This proliferation of AI-generated art has been a double-edged sword for the NFT market. On one hand, it has allowed more people to take part in the NFT economy and enabled anyone to share in the booming industry.
However, on the other hand, this easy accessibility has also led to fake projects and rug pulls all over the space. This increasing number of poor projects has made investors lose trust in the NFT market. These opportunistic individuals only came to the space to make quick bucks and disappear into thin air with people's money. This is the worse scenery that AI-generated art could lead to.
If you have been a fan of the non-fungible token you will agree with me that the NFT space is the earliest place to rug pull. I have personally witnessed this on several occasions losing money to ruggers all along.
Someone who has spent time, energy, and resources to produce an original artwork would not abandon a project or do a rug pull. Owners of a brand must do all they can to defend the brand because they want to gain relevance in the market. But, a person with AI-generated art could care less about a brand or a long-term project.
.
.In conclusion, why AI-generated art may have its advantages in terms of its accessibility and ease of use. Its overuse in the NFT market has brought negative effects on the overall value and quality of artworks.
I am not against the use of AI for art creation, but there must be a balance
between using technology as a tool and preserving the authenticity and creativity of human-made art.
Lead image created using AI image generator.
The article appeared first on LeoFinance under my authorship. https://leofinance.io/@fexonice/the-proliferation-of-ai-generated-art-and-its-negative-effects-on-the-nft-market
I think I am being very desperate lately. Today I wrote and published 4 articles, 3 on Hive, and 1 on readcash.
What do you think about that?
Can I have your attention please?
I don't understand what is going on in my life anymore, everything seems to be going against me, all financial doors are locked, and each passing day seems like an eternity waiting for a miracle that never may happen.
I am sitting on a stool in front of my apartment with my phone in my hands as I type this. I feel frustrated and confused as well about the condition I am presently in. It seems the whole world has turned against me, even the people in my house are also not happy with me because I no longer have a means of income to meet my daily needs at home. We barely have enough to eat these days, and most times I barely eat once a day.
Some of you who have followed my blog for some time now must have read in some of my past articles that I am a full-time blogger. That was true, but my blogging environment was never beyond the read cash platform.
Although I had good moments writing here and made a good amount of income, I also made a lot of mistakes with what I did with my earnings from blogging. All the crypto investments I entered into failed, and my investment was lost. The little I could take out from them was also consumed by the prolonged bear market, and I had no choice but to take my losses and sold out everything to survive.
The only assets I have in the crypto space right now are a bunch of useless NFTs that only God knows when will ever be valuable again. I got too involved in smartBCH projects and I lost everything there. The last of my crypto assets, about 3 BCH was stolen from my wallet by a hacker, and that was around the time that Rusty said goodbye a few months ago.
In January this year, I started blogging on the Hive platform to see if I will be able to make an income there. But, the Hive blogging community is not a place where you can easily get a payout, and for a newbie is especially very difficult to get anywhere. Nevertheless, I keep writing and posting daily hoping that with time I will gain traction with more followers giving more upvotes. Till now, I have only been able to receive a $20 payout in Hive tokens.
I tried several other earning sites but none were favorable to me. Seeing the pain that comes with a lack of money, I decided to try the cab business with my car, which I bought from my earnings in writing here. Unfortunately, the car had a major fault after just one month in the business. The engine broke down, and I was told by the technician that I will need to replace it. But the cost of replacing the engine is way higher than I could afford. Hence, I parked the car waiting for when I could get help financially to fix it.
Since I parked the car going to two months now, life has been hell for me. There are no other means of income for me to turn to at this time. To say that I am hungry would be an understatement, I am dying of starvation. My wife could only do what she can from her little trading to provide food for the children, and it was usually never enough to go around. So, I have to starve.
Right now, I am starting to think if I should sell off the car in the condition that it's now. This will mean selling it for a very cheaper amount. Honestly, I am confused as I type this.
How can I get $500 to replace the engine? Where can I work right now for me to get the money soonest for me to start working with the car again? If I sell it off it will not sell for more than $200, that's if I am lucky. But what can I even do with that money if I sell it, it may feed us for some days, but thereafter, what will I depend on?
I just need someone to talk to, the burning feeling in my stomach is getting into my head right now. I need someone to tell me it's going to be alright just as I have been telling myself that this will pass. But the condition of things around me makes the situation more difficult for me to handle. If it was for the car engine fault alone, that would be bearable, but how can someone live without food, the children's school fees are there waiting for me, and utility bills are piling up week after week. I feel overwhelmed!
Now, I understand why people take their lives via a suicide rope or jump into the lagoon to end it all. When you are facing a helpless situation and there's no one to talk to, and no help from anyone, it's as if the world has turned against you. And the feeling of rejection can drive someone into doing things he may normally never thought of doing.
I don't know if this article is an appeal for help, but I just feel like pouring out my mind to let someone out there know my condition. I am the type of person who has never asked anyone for financial support for the years I have spent in this life, but it hasn't come to this extent wherein I could not afford to eat just a meal a day.
I am devastated, and I don't know what to do next. I sincerely need your hands on my shoulders.
Today mark exactly four years since I discovered BCH and joined the BCH community. Great experiences and lessons were learned. It's a happy BCH bornday to me.
https://read.cash/@Fexonice1/four-years-with-bch-some-experiences-and-lessons-learned-55c68cc2
Four years with BCH, Some experiences and lessons learned
Today makes it exactly four years since I earned my first BCH via the read.cash writing platform. If there is anything I do better it will be remembering the date of important events even if I have never written them down on paper. I have a vivid memory of the things around my life. Without looking at any record, I can tell anyone the dates of important events in my life. I usually say happy birthday on my phone every September 15, something that most people don't even put in Mind. Anything that has happened to me has its date in my heart. People keep important dates in their diaries for remembrance but I keep mine in the dairy of my heart. So today is my BCH bornday.
It was on this day four years ago in the heat of coronavirus lockdown that I stumbled upon read.cash where I first heard about BCH. Since then a lot has happened to me, not in terms of the numbers of BCH I have accumulated till now. But the experiences, lessons learned, exposure, and people who affected my life in the BCH community.
I have to admit that before I discovered BCH I was completely a novice to cryptocurrency. I knew nothing about digital currency. Along the way, fine lessons were learned, emotional flows and important experiences were gathered.
Lessons BCH taught me
1. BCH sent me back to school
Knowing BCH was like opening a new world for me, and I know that the only way I could get the best out of this new world was to learn more about it. I focused not only on knowing about BCH but also on the concept of cryptocurrency. What technology drives them, How were they funded? Who invented it, and how was it made? These were just a few of the questions that I asked myself at the time I just came into the crypto world.
I’m the kind of person who will always check things out so he knows more about them before getting involved. Reading articles on read.cash was not the foundation of my knowledge about BCH. However, that wasn't enough to get detailed information about BCH and cryptocurrency in general.
Using Google searches, I did my research to know more about BCH. I visited BCH's main website. I read the concept and ideas behind BCH. I read the BCH road map with great interest. My first obvious discovery was the name "Satoshi Nakamoto", which was very strange to know that his identity was never known to anyone. Having the initial knowledge about BCH opened up a world of opportunities and hope for financial freedom for me from then on.
Moreover, I just didn’t want to remain the usual Joe in the crypto world. I need to know more about blockchain technology, crypto terminologies, why one cryptocurrency is different from another, and how it works. I wanted to get some basic general information about cryptocurrency. The only way I could do that was to sign up for online crypto lessons which allow me to learn about blockchain technology and cryptocurrency in general. The knowledge I gained at that crucial stage had a much impact on my crypto journey. In short, BCH opens the door to great knowledge for me.
2. BCH connected me to the world
I'm not a fan of social media, even up to this day I hardly check on Facebook or other mainstream social media platforms. My social network comprises my immediate environment and the people around me.
The BCH community was my first place to meet people from different countries and social backgrounds who shared the same interest and purpose. The unity and love I experienced in this community remind me of the Bible verse "Behold how good and how pleasant it is for brethren to dwell together in unity". So much so that you can’t find yourself comfortable except you joined in the movement.
Ever since I was in this community I have been able to meet people from different parts of the world and made good connections that have grown to friendships. These are not just online chat rooms friends, but people you can ask when you need help, and they won't let you down.
3. BCH taught me that love has no limits
Joining the BCH community was like joining a family where love is the only language spoken. I never knew there could be a place where people were willing to share what they have with others without having prior knowledge of this person. The generosity of members of the BCH community is very much alive. I haven't found much in any other place, no, not even in the religious circle. We often want to support the people we know and are convinced of. People we can see how they live before we decide to support them with our resources. But in the BCH community, where you live, and where you come from, don't matter, what matters is the purpose for which you need help. There are no limits to what love can do. The BCH community is such a society where love knows no boundaries.
Anyone who enters this community picks up where they meet others. There is no stranger here, everyone is bound by that spirit of love in the least way they can. You can get help anywhere in the world. A common example of this is the BCH farm project by @Maxdevalue.BCH in his district funded by the BCH community. Other similar projects are taking place in many parts of the world directly funded by people in the BCH community.
4. BCH taught me how to save
You may think this is a joke, but let me tell you the truth, I never knew how to save money. I have played a major role in the marketing business, and I have been deeply involved in the retail business, and I have been very successful in it. However, I was only living for each day and never had a time I put something by as savings. I only hold a bank account as a medium of sending and receiving money. But BCH changes all that for me. I learned how to save by holding BCH, and I have saved up from 4 years back to today.
Saving money is one financial goal I never learned before I discovered BCH. The reason for that may be mainly because I focus on each day more than anything else. Too bad, all I knew about saving was keeping the leftover of your salary after expenses. With BCH I am forced to choose between saving first or not saving at all. And you know, the most compelling side is to save first, and in fact, save everything for the future!
5. BCH taught me patience
I learned the beauty of patience from my experience with BCH. It can be emotional from time to time, it can be during a bearish market or a bullish run, not selling your BCH. I remember some time ago when the price of BCH dropped from $120 to $91, I was emotional and getting eager to sell the BCH I have. But words and advice from other BCH experienced users prevented me from taking such an action. I have seen the importance of patience today as BCH has recovered since then. Even now, I am not worried about the current BCH price because I am confident that BCH will continue to move forward. BCH has taught me patience which I can use in other areas of my life.
In conclusion, my four years in the BCH community have been a period of discovery, learning, and growth. It has helped me to build strong connections for profitable endeavors. Nowhere else I could have done this excerpt from the BCH community.
Happy fourth BCH anniversary to me!
Crypto-friendly banks' collapse, do we need the bank in the first place?
The crypto industry has been rocked by the recent news of Signature bank, SVB, and Silvergate bank all collapsing due to their involvement in cryptocurrency-related activities. These banks were some of the most prominent players in the space, providing services such as custody solutions for digital assets and facilitating transactions between exchanges.
The news of their bankruptcy has left many in the industry wondering what this means for the future of crypto-friendly banking. This is because these banks were some of the few that had embraced cryptocurrency and provided services for those who were involved in it.
The collapse of these banks has raised questions about the involvement of banks in crypto. After all, cryptocurrencies are designed to be decentralized and independent from traditional financial institutions. So do we need banks in the first place?
The answer is not so simple. On one hand, banks provide a level of security and trust that many crypto investors are looking for. Banks also offer services such as custody solutions and fiat to crypto conversation and back in most countries which can be difficult to find elsewhere. On the other hand, banks come with their own set of risks and regulations that many crypto users are trying to avoid.
The recent scandal has highlighted the need for complete decentralization in crypto-related businesses and services. The idea of a crypto-friendly bank is appealing, but it's clear that the current banking system isn't ready to provide such services without significant risk. The good news is that there are alternatives to banks. Decentralized finance (Defi) protocols have been gaining traction in recent years and offer a wide range of services such as lending, borrowing, trading, and more. These protocols are built on blockchain technology which makes them secure and trustless.
The crypto industry is still in its infancy and many challenges need to be addressed before it can become mainstream. the future of finance lies in decentralization and trustlessness. The recent banks' collapse has highlighted the importance of decentralization and trustlessness in the crypto space, but they also show that banks may not be necessary for crypto users. Defi protocols are becoming increasingly popular and offer a wide range of services that can replace banking. Banks may still be useful for certain services, but the crypto industry is quickly moving away from them and towards more decentralized solutions.
I keep wondering how people will have trust in a digital currency or a stablecoin that's been controlled by a bank. Banks have been known to be unreliable and untrustworthy, so why would anyone trust them with their money? The USDC de-pegging shouldn't be a shocker to anyone. Any digital currency that has an affiliation with a bank will mostly take the same route. This is a clear warning to crypto users about the proposed central bank digital currency CBDC. You can imagine how colossal it would be if something of this nature should happen with billions of people across the world having their money in CBDC.
Tether USDT has been under watch for a very long time now, the reason being the institutional operation around it. It's clear that the crypto industry needs to move away from anything related to banks and towards more decentralized solutions. Only decentralization can truly safeguard the future of cryptocurrency.
**Disclaimer**
The article is the opinion of the author and does not reflect the position of any known entity, and it's not financial advice for anyone.
Welcoming myself back to the Bitcoin cash powered platform after a long time away.
The return of Rusty on the read. cash made everyone a newbie, and so we must all do the groundwork again.
https://read.cash/@Fexonice1/rusty-returns-we-are-all-newbies-now-lets-do-the-groundwork-again-6577020a
Rusty returns, we are all newbies now, let's do the groundwork again
The first notification I received after publishing my first article since the return of Rusty was a congratulation that greeted me like a newbie. The notification said, " congratulations you have published your first article, what next?" This was the same first notification I received after publishing my first-ever article on the platform 3 years ago.
What that means to me was that we are all now regarded as newbies to the platform and must do the groundwork as we did before in the beginning. This is especially true when you consider the rate of engagement on articles on the platform right now, the views and votes are very few for everyone.
It's not that there are no people on the site, but everyone still feels like they have great followers who will engage with their posts as it was before. We drop the posts and forget about them until the next day to come back and check if we have been tipped.
No, it won't work that way, there are no top writers or earners right now. We are all on the same page and must do the groundwork for engagement and connecting with other writers for everyone to progress together.
The first article I published after Rusty returned got 21 upvotes. I was wowed by the number of people that engaged with the article and was already feeling very confident about my status. However, the second article I published didn't get up to 7 upvotes. This brought me back to my senses and reminded me that we are all newbies now, and must do the groundwork again.
So, what groundwork are we going to do? We must start by engaging with other writers' posts, commenting on them, and upvoting. This will help us build relationships with other writers and get more people to read our articles.
We should also make sure we post regularly so that our followers can always have something new from us to read. Quality must be your priority for writing your content as that will keep your readers engaged and interested in what you have to say.
I don't know the extent that Rusty will give rewards, but going by a newbie experience at the beginning of the platform, I can say that the reward may not be more than a few cents to a post. But it will gradually improve as time goes on.
Now is the time to start again in building our presence on the platform. We must be consistent and patient to reap the rewards of our hard work. Let's all do the groundwork again, like newbies, and don't feel desperate this time. It may take some time before we start seeing the results of the hard work put in.
If we get noticed by Rusty and get tipped, let's use the tips to build our influence on the platform by tipping other writers and those who engage with our articles. At the end of the day, it's going to be a win-win situation for everyone.
They are still here
It's been 3 months since I last posted an article on the read.cash platform. Even though I was away, there has been no week that I didn't check on here to see what's going on.
Shockingly, the platform never had a day of silence, as there were always some writers who kept the platform alive. I am so proud of them for never giving up and keeping the platform running despite all odds.
My notifications never stop beeping each day for the time I was away. Writers such as @PVMihalache, @Olasquare, @MicroReylatos, @Amjad_Ali_Waince, @Coolmidwestguy, @alberdioni8406, @Jane, and a few others I subscribed to never stopped firing from all cylinders. I salute these guys for their commitment and dedication to the platform.
I remember I was one of those who said will never stop writing even though there's no reward for the work. Unfortunately, I failed to keep to my words and like several others, I stopped writing here and shift my attention somewhere else.
For the time I was away from here, I never stopped writing. I decided to explore other platforms such as Hive blockchain where I have been actively participating in various activities from blogging to the curation of content, and engaging with fellow community members.
I must confess that it has not been easy for me on the Hive blockchain, with it being heavily structured around communities. And you must need to be a confirmed community member before your post can be curated by the strict communities' moderators.
So many times, for the 2 months I have been working on the Hive blockchain, my articles seldom get a single vote. For this, I was told it was because I was not a confirmed community member, and also that I wasn't following the community writing prompts.
Nevertheless, I got some good moments to cheer about. On about three occasions my article was selected as one of the best read for the day. This brought exposure to my blog and also make some community moderators curate my post even when I didn't share it in their communities.
Overall, the journey isn't bad so far, and I have been able to cash out $11 in Hive tokens and still have a Hive portfolio worth $23. The most important thing is the experience that has helped me to keep my writing pen flowing.
Are we given a second chance?
Last time our dear friend gave his last tip and said goodbye with some valid reasons given that would not make him continue his generous work of distribution of BCH rewards to writers. I can see the green man is back to his position of leadership. Is he giving us a second chance?
I do hope we can maximize the time by playing by the rules and keeping the platform saner than it was before. Whether our dear rusty return with a full bag or not is not the matter, but that we all play by the rules and appreciate the second chance we are being given.
Those of us who tried other blogging platforms during this time can attest to the fact that there's nowhere else you can find it easier than here as a writer. I am happy to see everyone coming back to writing and much happier to see the read.cash community coming back to life.
Finally, I feel very happy to be able to write again here after a long time away. It's always a thing of joy and great satisfaction for me to express my thoughts and feelings in this way. I am grateful for this second chance opportunity, and I look forward to a good future for all of us.
I am glad to be back!
For the first time ever, we are gonna have a cashless valentine in my country. This is the time to know those who truly loves you.
Are you guys still doubtful about RouGee?
I got my second payout and made a successful swap.
join now to start earning like me.
https://rougee.io/register?ref=Fexonice1
Guys and gals, the RouGee app I shared about last time is currently on fire with new users flooding in high rate.
I got my first payout of the RouGee XRGE worth $50 after 9 days of joining the platform.
You may want to give it a try and do what you normally do on social media.
https://rougee.io/register?ref=Fexonice1
Have you guys check out the RouGee app?
A social media platform that combined the features of Tweeter, Instagram, Facebook, and blogging in one place. Every action is monetized. Read about it from the link below.
https://read.cash/@Fexonice1/unlock-your-earning-potential-with-rougee-a-unique-social-media-platforms-433227de
Unlock your Earning Potential with Rougee: A Unique Social Media Platforms
Rougee is a unique social media platform that allows users to unlock their earning potential. It was created to provide an innovative way for users to connect, collaborate, and earn money from their interactions. The app works by allowing users to post content related to their interests or passions and monetize it through interaction with it in various ways such as likes, comments, shares, and more. https://rougee.io/register?ref=Fexonice1
Additionally, Rougee offers its own rewards system where users can receive virtual currency used within the app to purchase items or be exchanged them for real money. By utilizing this platform, users can make an income while creating meaningful connections with other like-minded individuals around the world.
**Features**
Rougee offers a variety of social interaction features to keep users engaged and connected. This includes the ability to post media, like or comment on posts, follow other profiles, create groups, and direct messages with friends. Through these interactions, users can build meaningful relationships with one another from anywhere in the world. https://rougee.io/register?ref=Fexonice1
The monetization features are what differentiate Rougee from other social media platforms. Users can earn money by posting content, and by interacting with others’ content such as likes, comments, shares, and more. Additionally, there is an internal reward system where users can earn virtual currency which they can use within the app or exchange for real money.
General features include profile customization options such as choosing backgrounds and avatars; a newsfeed that shows updates from followed profiles; notifications when someone interacts with your post; security settings allowing you to control who sees your content; private messaging capabilities; analytics allowing you to track user engagement; support for multiple languages including English, Spanish, and Chinese, etc. Lastly, there is also a marketplace where people can buy and sell goods or services directly on the platform!
**How to sign up and get started**
The sign-up process on Rougee is straightforward. All you need to do is create an account by entering your basic details such as name, email address, and password. Once signed up, users are guided through the platform’s features and offered tips on how to get started with earning money. https://rougee.io/register?ref=Fexonice1
**Activity & Rewards**
One of the best ways to connect with other users and begin earning is by posting content related to their interests or passions. By creating engaging posts that others can interact with through likes, comments, shares, etc., users have the potential to earn real money from these interactions! Additionally, they can build meaningful connections while establishing a network of like-minded individuals around the world who share similar interests or passions.
Users also have access to other income opportunities by joining the affiliate program and referring friends for bonus points; selling goods or services directly on the platform as well as investing in the platform’s native virtual currency to earn a profit in the future. With so many options available there’s something for everyone looking to make extra money using Rougee’s innovative tools!
The rewards system is one of Rougee’s most popular features as it allows users to accumulate points that can be exchanged for virtual currency that can be used within the app or exchanged for real money. The points are earned through various activities such as likes, comments, and shares on posts; selling virtual products within the app, etc. Users also have access to bonus rewards when they refer their friends which adds an extra incentive for them to share their content with others.
The rewards system allows users to unlock levels and upgrades that give access to premium features. By utilizing these incentives, users can further maximize their earnings, thus providing them with an additional way of making money online.
**User Community**
To help grow the Rougee app community, users can take advantage of the many features available to them. This includes creating or joining groups related to their interests or passions; following other groups’ profiles for updates on what’s new within their network; and direct messaging friends to stay connected.
Rougee encourages its users to stay connected and engaged with each other by providing different ways for them to do so. Through these interactions, people can build meaningful relationships while having fun at the same time. By leveraging these features, more individuals will be encouraged to join in on conversations and activities – resulting in a larger global community that is continuously growing! https://rougee.io/register?ref=Fexonice1
**Conclusion**
In conclusion, Rougee is an incredibly versatile social media platform which allows users to unlock their earning potential by collaborating around shared interests or passions. With its wide variety of interactive tools combined with incentivized earning opportunities – it’s no wonder why so many people are opting for this innovative platform when it comes to connecting online. https://rougee.io/register?ref=Fexonice1
Join me on RouGee, let's connect and earn!
**https://rougee.io/register?ref=Fexonice1**
From FTX to GTX, is this a rescue mission or another scam syndicate forming?
https://read.cash/@Fexonice1/from-ftx-to-gtx-is-this-a-rescue-mission-or-a-scam-syndicate-forming-d2950177
From FTX to GTX, is this a rescue mission or a scam syndicate forming?
Remember the guys involved with the Three Arrow Capital that went bankrupt in June 2022 and was ordered to liquidate by a court of law, with investors' funds reaching billions going the drain?
Kyle Davies and Su Zhu, co-founder of the failed Three Arrows Capital are teaming up with some other guys including Mark Lamb, the owner of Coinflex, another exchange that has issues of fraud on its head, to start up a new exchange that hopes to makes money off the bankrupted FTX exchange.
Funnily enough, according to its pitch deck which was leaked and published by Bloomberg, the new exchange will be called GTX "because after F comes G". The plan is to make money off bankruptcy exchange assets, namely FTX.
Although one of the parties to this scheme, Mark Lamb claimed that GTX will not be the name of the new exchange, the relationship with FTX brings back a sour memory in the crypto community.
it's yet uncertain how the crypto industry can still trust these guys after all they have been involved in the past. Kyle Davies and Su Zhu were part of the Three Arrow Capital bankruptcy and liquidation saga. These guys went into hiding after the exchange went bankrupt, and left behind million-dollar mansions, and yacht fleets purportedly acquired with investors' money in their custody.
Mark Lamb on the other hand, still has a case of Fraud around his neck on his exchange Coinflex. Coinflex exchange almost went into liquidation last year and still struggling to pay its users as we speak.
From the antecedent of these guys, it doesn't look good for crypto investors to trust this exchange to become a solid institution. I dare to say, "Scammer will always be a scammer" regardless of how hard he tries to help you to get paid by his exchange.
The proposed exchange will need 25 million dollars to start the business, and the plan is to have FTX investors move their assets into the new exchange, and then eventually the users will get their coins back in a way of recovery.
I see this plan as nothing more than a slimy cash grab, it is possible to make money out of FTX without paying its investors by overcharging them with a slew of fees and other problems in the operation of the exchange.
There is no guarantee these guys are not going to steal more investors' funds from the new exchange, and the users will be further screwed after all they have gone through with FTX.
Will cryptocurrency investors be willing to trust these guys, I don't think so, and I wouldn't advise anyone to get close to the new exchange if they eventually succeeded in launching it.
Final thought
Till now crypto investors have come through turbulent times, without any doubt they have proven to the rest of the world, that cryptocurrency have more than a base value, and more importantly they will not falter with poor business concepts that can potentially destroy the very foundation of cryptocurrency.
We will see what Kyle Davies and Su Zhu with their new exchange plans will bring to the cryptocurrency world, and investors should be wary of getting involved in the business with these guys.
All images screenshot from the GTX PDF pitch deck.
I posted about the new platform I have been working on since 2 days now a while ago. Here is first withdrawal underway, hope to receive it in my wallet soon.
This is from Rougee, the new micro blogging platform I joined 2 days ago. You can give it a try.
https://rougee.io/register?ref=Fexonice1
Happy Sunday noisers, it's been awhile, hope you are all doing well?
In the meantime I have a social earning platform I have been enjoying. I think it's good to share with you guys.
Rougee is a new social decentralized micro blogging platform that reward users for their engagements and activities on the site. The platform just launched a few days back and early joiners have more advantages.
check it out from the link below.
https://rougee.io/register?ref=Fexonice1
@Fexonice1
