Blockchain Censorship Resistant? Ethereum and Tor...
Censorship...
As we stand right now, the ecosystem is not government resistant, it's not censorship proof, Bitcoin, maybe, but Ethereum and all the other ecosystems? No way... Mainly because anyone that is running an Ethereum node is showing their IPs, and this makes it easy for any government or central authority that wants to authoritarianly suppress crypto to do it by going after each node's IPs and arresting them... This would be tremendously bad for any crypto investor!
This is not far fetched, we all know that governments are willing to go very VERY far and are willing to use force if necessary to suppress people, and they can get support from the crowds by manipulating them through the news to make us, crypto enthusiasts, look like evil people...
But there is something that can fight back...
**TOR**
TOR is basically an open-source software that anyone can use to reroute all the traffic that they get from and to the internet by a relay of worldwide distributed nodes that at each node all the information is encrypted except the next node. It works with more complexity than this, but basically, it's really, EXTREMELY, HARD to know where the user who is getting the data is and where the server that is sending the data is.
This is the only way I see crypto being truly government proof, by running on top of TOR. Bitcoin already does this, but Ethereum...
Ethereum still doesn't work easily on top of TOR, it's really hard to make Ethereum run on top of TOR because to sync a node one requires another node, and what normally happens is that the clients come with a bootstrap list of nodes available to connect, but through TOR this list doesn't work, TOR doesn't allow UDP node discovery, and to use Ethereum on TOR right now requires one to manually connect to that other node, and manually doing this might mean that, that other node, might be a compromised node, this is an awful long-term solution!
There is a sort of solution already available, EtherNodes list, it's a website with a list of trusted TOR seed nodes that is automatically updated and randomized with trusted nodes. But it's not my favorite solution... there is another one coming! https://ethernodes.org/tor-seed-nodes
**EIP - 1459...**
EIPs, if you know these letters you know their meaning, if you don't, let me tell you, EIP stands for Ethereum Improvement Proposal, it's a way for Ethereum devs to propose certain additions to the Ethereum code, so, basically, most of the updates to Ethereum are first EIPs. And it so happens there is an EIP trying to sort of tackle this issue!
EIP - 1459, an EIP that enables node discovery using DNS. This allows for a much more easily TOR node list, and a much harder way for a government to interfere with the network... this is a step in the right direction, it's one of the best solutions I've found to run an Ethereum node through TOR.
It's not available right now, but the Ethereum clients are right now testing this solution and will be available in the near future.
When this is fully available in all the clients, I hope to sync an Ethereum full node using this mechanism and run it through TOR... Having a node running normally is always great, but even better is to run one through TOR!
Other resources:
1.https://eips.ethereum.org/EIPS/eip-1459
2.https://medium.com/@oaeee/how-to-sync-an-ethereum-node-via-tor-755534775ae1
3.https://en.bitcoin.it/wiki/Tor
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**Question of the day: Do you run any blockchain nodes? Are they running through TOR so that you hide your IP?**
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DeFi Protocols! Copy Paste...Copy Paste... YFI, SUSHI, SNX
This is just crazy...
The crypto space is an unregulated space. A free for all space with many of the protocols and ideas open-source so that everyone can help out, but this a double edge sword... Protocols being open-source indeed means anyone can help out with the development, but it also means anyone can copy the code and spin their own version! And this is what we are seeing in DeFi right now.
Yearn.finance is a protocol that moves the funds from protocol to protocol trying to farm the best interest rates plus governance token yields. After months of being online, the smart contract owners decided that maybe the protocol should have a governance token, and so they introduced YFI... but some people decided the distribution was not the best, so they forked the whole protocol and made their own version with their own governance token! And others disagreed with both versions of the protocol so they forked it again...and again... and again! YFII, YFV, YFL, Yetc...
This is the nature of being open-source, protocols are very easily copy-pasted, and implemented again...
All these protocols and governance tokens that copy-pasted the YFI token are very risky in my opinion, the devs aren't well known and at any time they can introduce a bug in the software and steal everything. Hodling the token for short term trades might be ok, but for long-term, not sure if it isn't too risky...
But YFI was just one of the firsts, now even Uniswap is being forked!
Uniswap was forked and introduced a governance token. The new protocol is called SushiSwap, it's basically a fork of uniswap, works the same way, but the Liquidity providers get the fees plus the governance token called SUSHI! I don't like to trust in protocols that are so new, so I'm not putting any money on it... and I think Uniswap V3 will come with their own governance token, still, the Uniswap devs are calling out the Sushi devs on twitter.
It seems the Sushi devs are giving SUSHI to Uniswap Liquidity Providers(LP) for the next few weeks and will only launch SushiSwap after this early distribution... This is crazy! It's trying to influence LP from Uniswap to change to SushiSwap. I wonder what will happen... The main dev from Sushi is also calling out the main Uniswap dev for getting the VCs involved in the protocol.
But SushiSwap isn't the only one trying to influence people to change protocols, this next one is trying to do it in a devious and awful way... What SushiSwap did, I have no problem, the free-market will deem which one is worth and which one is not, but what this next one did is just awful.
Spartan Protocol, a new protocol that is going to launch on Binance Chain to do synthetic assets stole the Ethereum Synthetix community name... The Synthetix community have been calling themselves Spartans for many many months, they made Synthetix memes based on Spartans, they have big accounts named SpartanFarmer, DegenSpartan and so on... and Binance Chain just decided to deploy a protocol with this name, and with the exact same use case that Synthetix has? Camon...
This is devious, this feels just like Justin Sun trying to steal the Steem community and thinking that people will go along with it... But I guess I shouldn't be surprised about this, CZ and Justin Sun are exactly the same! They are in this to suck as much money out of the system as they can, they don't care about us, they only care about how heavy their wallet is. I feel really happy seeing DEXs volume going up exponentially while CEXs volume are staying stable or even decreasing...
Stealing the name of a community is just wrong! How can they even think about doing this! It's devious and awful... I'm all for copy-pasting protocols, I'm a free-market type of guy, I like the competition between protocols, it only makes them better long-term, but using a wicked tactic like stealing the community name to use in another protocol's name just to try and get some less knowledgeable user, is just wrong...
I'm a capitalism supporter, but capitalism needs to be based on good morals, ethics, and values, there is a limit to how far you can go in trying to be competitive in the free-market. If you are trying to be competitive by developing better things, it's ok, if you are trying to be competitive by burning down your opponent's business, or trashing whole neighbors, or sending more toxics to the water or atmosphere than the max limit allowed, you are doing it wrong. We are first and foremost humans! Not machines without values, morals, or ethics.
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**Question of the day: Did you feel posting-fear when you first started? Do you still feel it?**
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Tokenization and STOs - Liquid and Ethereum
Why crypto...
People came to cryptos looking for many things, but, in my honest opinion, the main thing that they came here looking for was freedom!
Freedom from the tyranny of central banking! Freedom from the tyranny of authoritarian governments! Freedom of speech! Monetary freedom! Freedom...
All forms of freedom can be represented in crypto... but, there are a few blockchains that are at extreme risk of having that freedom snatched away. Some chains are not permissionless! In some chains just for you to create blocks, it requires you to pass through KYC and for you to be accepted in by another human being! Some chains are ruled by federations that allow you to enter them through a peg-in, but for you to get out you will have to ask nicely to the federation overlords... I hate this! And this is what Liquid does...
Liquid is a Bitcoin sidechain that Blockstream developed. It allows the creation of tokens backed or not backed by BTC, it runs using PoW, and all the fees are paid in L-BTC, which is tokenized BTC so, miners are the ones creating blocks! But there is a catch... only KYCed people can be accepted as miners and I say "can be accepted" because they also need to be allowed in by the federation!
The federation are a bunch of big OTC desks, big traders, big whales, big big big... basically, in my opinion, when I look at Liquid I see it as another authoritarian government! And hear this, they don't have the ability to stop you from tokenizing BTC on Liquid, but they have the ability to stop you from pegging out of L-BTC to BTC... this is so dangerous!
Looking at this I just feel like we are replacing the old centralized authoritarian system with another new centralized, permissioned, authoritarian system...
With all of this said, there is one single advantage that I see for using Liquid's tokenization, the fact that it is a permissioned blockchain makes it so the number of scams on it decreases by a lot! Because scammers on Liquid will have a hard time getting their L-BTC converted to BTC, this is good for big companies, big STOs, big tokenization, and since this is only on the sidechain and the mainchain Bitcoin stays permissionless and trustless, it is a choice, the choice to tokenize or not your BTC and be subject to the whims of the federation, but I don't like it...
I don't like to be dependent on a federation, this is not what I came here to the space looking for, I came looking for freedom! And this, to me, is not freedom... I want to be free to develop, free to create protocols, free to create tokens, freedom! And this is why I don't like Liquid... and it is why I love Ethereum!
Ethereum, just like Liquid, also allows tokenization! And it has the bonus of allowing smart contracts to be made, advanced automated protocols that don't require human intervention and can be totally trustless and permissionless as long as the devs make it so... This is what I like!
Permissionless and trustless is, to me, freedom! Even if Ethereum does have more scams, even if it has more experiments that fail big-time. It's still far superior in my personal opinion to Liquid...
If big investors need to feel safer in their investments on Ethereum, they can use a combination of platforms like TrustSwap that make the token issuance much more honest, and a token standard like ERC-1404 that make it so the developers of the token, for example, the devs of an STO, are responsible for the token, and the tokens can be recovered from lost wallets, transferred from wallets, frozen in wallets, and blacklisted from wallets by the devs... This is a new token standard developed just for STOs and it is SEC approved!
Using these sort of mechanisms allows the base layer to still be trustless and permissionless and everyone to experiment and try out things while keeping safety at the token level, by making the token more permissioned and less trustless by using an ERC standard that makes it so.
Just yesterday a new STO was announced to be launched on Ethereum, an STO for a new exchange that is going to share 40% of their net cashflow... The STO was SEC approved and it uses the ERC-1404, so, we know that using the ERC-1404 gets the SEC approval for STO issuance on Ethereum.
I hope that more STOs launch on Ethereum using the ERC-1404 standard. STOs will be the next big thing in crypto after DeFi, and I think that most will come to Ethereum! The network effect is there, the use cases, the users, the protocols, the money! The ball is rolling and I think it will be very hard to stop...
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**Question of the day: What other blockchains do you see potential in terms of STOs? In my list goes Tezos, Cardano, Vechain.**
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TrustSwap! Fighting Shady Scammers!?
More coins!
The space is full of coins! Coins everywhere! Left and right, everywhere we look, there is a new coin being created...
The crypto space is getting more and more connected with time. Right now, we can lend and borrow in many different protocols, we can tokenize BTC on Ethereum in a trustless and permissionless way with REN, we can put our money in protocols like yearn.finance that move the funds from pool to pool to get the best interest rates possible, we can yield farm, we can create content and be rewarded in crypto on Hive, uptrennd, publish0x, etc, we can buy tokenized houses and get rent on RealT, we can do so many different things! But we need to be careful!
Many of these projects that are being launched are scams! Protocols designed intentionally with bad code, bad code that will one day enable a hacker to steal millions! Coins that are created and put on illiquid Uniswap pools that will undoubtedly make fools FOMO in and pump the coin hundreds of percent only to see the same coins dump right after because the "founders"/scammers cash out... Protocols that say they have "elastic" supply when in fact they are so badly designed that when the negative rebases start it will be very hard to turn them positive!
The space is full of scams. But there is light at the end of the tunnel!
Many projects are coming online that are trying to prevent scams by stopping the mechanisms that scammers have been using to gain lots of money, mechanisms like doing scammy ICOs to get ETH and then not developing anything, or by removing liquidity from uniswap pools. One of these projects is TrustSwap!
**TrustSwap**
TrustSwap is a protocol that aims to bring more security to crypto investors. They have many things being developed, like subscriptions, trustless payments between two parties, but the one I'm most excited about is the SmartLaunch feature!
SmartLaunch will allow token issuers to have full control of how the distribution model of the token works. This means that token issuers can have time-locked tokens both for their team and for the ICO investors, which means that investors will have the opportunity of pulling the funding if the project isn't developing the right way, there can even be development goals that need to be reached for the tokens to be released and for the funding to go through!
This is another whole level of transparency and honesty! This is how we make sure that the project we are investing in aren't full of scammers! By making them accountable for their actions, only allowing them to receive funding if they are indeed working on the project they said they were working on! This, to me, is the future. It's the only way I can see this permissionless ecosystem surviving without the governments getting mad at us that we are just a platform for scammers!
If a person wants to invest in shady ICOs they will still be able to, but if they want an actual project that is almost certain to not disappear as soon as the team gets their ETH, they will have to invest in projects that use TrustSwap.
I hope that in the future TrustSwap develops a system of funding where the users just need to stake their ETH to a project and the inflation will go to the project devs and the tokens will be released to the people staking. This is a system that some other blockchains are already using, like NULS with their SCO, or Hive with their ability to delegate HIVE POWER to certain projects to get tokens in return. This would be a game-changer since no one would lose their ETH to get in ICOs, they would just need to stake on projects and lose the inflation of ETH, and they would still have the option to get get out mid staking in case the project was not going anywhere!
Images Free Source - 1, 2,3,4,5,6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27 - Tradingview snapshots too. https://pixabay.com/pt/gols-configura%C3%A7%C3%A3o-escrit%C3%B3rio-2691265 https://commons.wikimedia.org/wiki/File:Veterinary_symbol.jpg https://commons.wikimedia.org/wiki/File:Coffee_cup_flat.svg https://pixabay.com/pt/silhueta-reimpress%C3%A3o-pata-p%C3%A9-tra%C3%A7o-1314467/ https://pixabay.com/pt/impress%C3%A3o-da-pata-patas-imprime-941498/ https://pixabay.com/pt/m%C3%A9dico-medicina-homem-m%C3%A9dica-2025726/ https://pixabay.com/illustrations/apps-social-media-networks-internet-426559/ https://pixabay.com/illustrations/icon-set-social-media-contact-web-1142000/ https://pixabay.com/vectors/ads-advertisement-website-layout-1663031/ https://pixabay.com/vectors/economy-icons-stock-index-symbol-1294549/ https://pixabay.com/pt/photos/criptomoeda-ethereum-litecoin-3409641/ https://pixabay.com/pt/photos/reuni%C3%A3o-neg%C3%B3cios-arquiteto-2284501/ https://pixabay.com/illustrations/social-media-manager-online-1958774/ https://peakd.com/hive-167922/@teutonium/trustswap-fighting-shady-scammers
**Question of the day: Do you think that scammers will have a harder time scamming people with ICOs now that TrustSwap makes the whole process much safer for investors?**
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HEX? Yea or Nay?
HEX
HEX... a word that has been talked about for centuries! Witches, wizards, voodoo masters, Hexes have been used in popular folklore for many centuries to describe some classes of spells that supposedly witches cast! But that word has a whole different meaning in the cryptocurrency world!
HEX, in the crypto world, is a cryptocurrency deployed on Ethereum that first appeared from an idea Richard Heart had. Richard Heart has been in the cryptocurrency space for many years, he first started in bitcoin, but after SegWit on bitcoin he started shifting into Ethereum, and when he saw that a lot of developers and users went for Ethereum instead of Bitcoin he decided to deploy something on Ethereum... HEX.
HEX basically works like this, when it first launched, all bitcoin hodlers could get a little HEX for free with the claim function, every time the claim was used, not only was HEX created for the bitcoin hodler but it was also created for the owner of the smart contract (which Richard never said who it was). You can also get some HEX through Referral, and again, every time HEX is created through the referral system, a little HEX is created for the owner of the smart contract. And everyone is able to buy HEX with ETH.
HEX has a staking system where people are incentivized to hodl long-term, every time someone stakes, the stake will have an unstaking date, if the stake is held until then, the staker will be rewarded with more HEX. If someone unstakes early, the rewards for staking will be slashed.
What this staking mechanism creates is an incentive for people to hodl long-term, it also makes it so there is a lack of supply on the exchanges, which is great to make a coin pump! Lack of liquidity drives the price upwards with little amounts of money.
**Many people like to call HEX a scam... is it?**
In my honest opinion, it isn't a scam, for one simple reason, everything is public and Richard never promised anything... It's as simple as that, people know pretty well what they are buying. Everything is transparent! There is no one trying to deceive you, you can check the code and check everything! If you buy you do it because you want to, no one deceived you, you have the ability to know how everything works!
If McDonald's has a wet floor and doesn't put a sign warning that there is a wet floor, McDonald's can be sued if someone slips, but if McDonald's puts a sign-up, and the person still goes ahead and slips on the floor, it's not McDonald's fault, it's the person's fault for being a dumbass and not reading... (exception, blind people).
Another good example is waste containers... we all know that, if we put something inside a waste container sooner or later the garbage man will take it to the landfill, so, we wouldn't put a new led TV in the waste container to "store it"...if we did and the garbage man took it away, we wouldn't call the garbage man or the whole garbage industry scammers, would we? We wouldn't! Because we all know how the garbage industry works!
Same thing for HEX... everything is clear and the information to know how it works is out there for all to research, if someone decides to buy and the price goes to 0, Richard isn't to blame and it isn't a scam, he never promised anything, the person knew pretty well how HEX worked and that it could go to ZERO... Richard said many, MANY, times that HEX could go to 0...
**With all of this said, is it a good investment?**
No... It has no cash flow, no revenue, no business model, the only reason it goes up is because "There's a sucker born every minute", and the lack of supply on the market makes it so, the little money that the sucker puts into HEX, drives the price upwards by a lot! This also generates FOMO and gets more suckers in...
Buying HEX is betting that there will be more suckers on the way! HEX has all the mechanisms I like to see in tokens, I think Richard calls them pumpamentals, but, even with all the mechanisms I like to see on tokens, the lack of revenue coming from a business model, like BAT has ad revenue, or Ethereum will have EIP1559, or some exchange tokens that use fees to buy the tokens, makes me not want to invest in HEX.
I do think that HEX is great for the ones that used the claim feature! We all know how the crypto market is... we got some of the smartest people around in crypto, but we also got some of the dumbest, there will always be new suckers to buy HEX, and the price can go up again and again...
And Richard did things so well that he never promised anything, he basically protected himself from any possible future lawsuit or Howey test!
In the end, in my opinion, HEX is, more or less, like an IQ test on the crypto market... I'm an investor, and as an investor, I like to invest in things that I can see what their aim is, and in HEX's case, the aim I currently see is sucking in new investors that don't want to do any research even though everything is clear as day... Kinda reminds of my country's social security, where new workers have to pay for an ever-expanding elderly class retirement.
But I can be wrong, I'm human after all, I've been wrong before, HEX could be the greatest investment of our times and I'm not seeing something... In the end, everyone should do their own research!
Images Free Source - 1, 2,3,4,5,6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27 - Tradingview snapshots too. https://pixabay.com/pt/gols-configura%C3%A7%C3%A3o-escrit%C3%B3rio-2691265 https://commons.wikimedia.org/wiki/File:Veterinary_symbol.jpg https://commons.wikimedia.org/wiki/File:Coffee_cup_flat.svg https://pixabay.com/pt/silhueta-reimpress%C3%A3o-pata-p%C3%A9-tra%C3%A7o-1314467/ https://pixabay.com/pt/impress%C3%A3o-da-pata-patas-imprime-941498/ https://pixabay.com/pt/m%C3%A9dico-medicina-homem-m%C3%A9dica-2025726/ https://pixabay.com/illustrations/witch-cartoon-broom-hexe-1856639/ https://pixabay.com/illustrations/road-sign-attention-note-scam-464641/ https://pixabay.com/illustrations/dices-over-newspaper-profit-2656028/ https://pixabay.com/illustrations/blue-dollar-money-cash-currency-1702287/ https://leofinance.io/hive-167922/@teutonium/hex-yea-or-nay
**Question of the day: Do you consider HEX a scam? Why? Did you claim it?**
**Convert your Bitcoin to EUR/USD :** **Coinbase**
**Buy all kinds of Cryptocurrency:** **Binance**
**Join Steemmonsters, one of the top dapps on blockchain:** **Stemmonsters** https://www.coinbase.com/join/59bdc7b8e06d7b00b14b085a https://www.binance.com/?ref=17269602 https://steemmonsters.com/?ref=teutonium
**Posted Using** **LeoFinance** https://leofinance.io/@teutonium/hex-yea-or-nay
It's So Near! Bull Season Around The Corner?
Almost...
We are almost there folks! I can see it, I can feel it, I can taste it, I can smell it and I can hear it! We are so near it that's it's amazing! After waiting for 2 years and a couple of months now, we are near a true bull season!
What we got so far is the starting of one, but it isn't a full-blown bull season! For that, we still need to breach the previous all-time high and find some support. But we are seeing already some pretty good indicators that we might soon do it!
**Net Unrealized profits/loss**
I love this graph, it comes straight out of one of the best On-chain market analysis teams, Glassnode. Very summarised, it shows the different stages of the market based on the unrealized profits/loss. https://studio.glassnode.com/
What normally happens is that when we breach into the green zone, which is the belief zone on the unrealized profits/loss after a big bear market, it's normally a sign that we are going past the previous all-time-high!
From what we can see in the chart, we are very very near that point. Maybe a few more weeks, maybe a few more days, who knows, but one thing is for sure, we are near the point where the market will decide if it wants to keep going bear or if it wants to go bull!
**Crypto Marketcap Excluding BTC**
This is the chart with all the altcoins market cap excluding BTC, we are close to breaking out of a big range. Last time something like this happened was back in Jan 2016, with the bull market starting, and we saw a 600,000% increase in the chart. One of the biggest altcoin bull runs ever! Money poured into the ecosystem left and right! Up and down but more up than down. There were coins doing 30x in a week! Sounds familiar?! Because it is... We are already seeing some signs of this.
There are many altcoins currently going berserk, LINK has increased a tremendous amount. I'm still pissed off that I bought at $4, had 100 LINK, and sold them at $8, especially since I wanted to HODL LINK long-term. It won't be easy to get a bag of that size now...
BAND, a cryptocurrency that also deals in decentralized oracles just like LINK has rallied and done a 13x from around $1 to $14. RUNE did a 9x.. in the last 180 days. And it keeps going, there are so many coins pumping! My biggest bag VeChain was around $0.005 and went to $0.02, a 4x in days!
And we haven't even broken out of that channel, imagine what will happen when we actually break out of the channel! The amount of value, the number of assets in Compound, Aave, Celsius, CDC. The number of new users that will pour into the ecosystem! The amount of ad revenue that crypto social networks will create and some, like LeoFinance, will even buyback their tokens with that ad revenue!
We are on the verge of the biggest bull market that we've probably ever seen in crypto! Everything will go up, some more than others, crypto will go mainstream, but we will also have to fight the oppression of the big banks and big governments. It's in their best interest that crypto fails!
If crypto succeeds, it will bring more economical freedom to everyone around the world, many poor countries around the world will start prospering and the big banks and governments won't be able to exploit them, more privacy will lead to less control by the state but also more control by us, the people, over our own lives, more economical freedom and privacy will lead to less authoritarian regimes that they can make money with, and this is just the tip of the iceberg!
Crypto will bring the whole world under the same economy and under the same financial system! It's going to be revolutionary!
Images Free Source - 1, 2,3,4,5,6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27 - Tradingview snapshots too. https://pixabay.com/pt/gols-configura%C3%A7%C3%A3o-escrit%C3%B3rio-2691265 https://commons.wikimedia.org/wiki/File:Veterinary_symbol.jpg https://commons.wikimedia.org/wiki/File:Coffee_cup_flat.svg https://pixabay.com/pt/silhueta-reimpress%C3%A3o-pata-p%C3%A9-tra%C3%A7o-1314467/ https://pixabay.com/pt/impress%C3%A3o-da-pata-patas-imprime-941498/ https://pixabay.com/pt/m%C3%A9dico-medicina-homem-m%C3%A9dica-2025726/ https://pixabay.com/illustrations/apps-social-media-networks-internet-426559/ https://pixabay.com/illustrations/icon-set-social-media-contact-web-1142000/ https://pixabay.com/vectors/ads-advertisement-website-layout-1663031/ https://pixabay.com/vectors/economy-icons-stock-index-symbol-1294549/ https://pixabay.com/pt/illustrations/bolsa-de-valores-crise-financeira-4880802/ https://peakd.com/hive-167922/@teutonium/it-s-so-near-bull-season-around-the-corner
**Question of the day: Do you have your bags ready for the bull market? Or are you still waiting on the sidelines?**
**Convert your Bitcoin to EUR/USD :** **Coinbase**
**Buy all kinds of Cryptocurrency:** **Binance**
**Join Steemmonsters, one of the top dapps on blockchain:** **Stemmonsters** https://www.coinbase.com/join/59bdc7b8e06d7b00b14b085a https://www.binance.com/?ref=17269602 https://steemmonsters.com/?ref=teutonium
**Posted Using** **LeoFinance** https://leofinance.io/@teutonium/it-s-so-near-bull-season-around-the-corner
Hard Money and Supply! Ethereum and Bitcoin!
Hard money...
Many come into the crypto space looking for hard money! Real money! the money, or at least a similar money, to that of our ancestors. Money from the era before Nixon took the world out of the gold standard! That's what many in the crypto space see in Bitcoin...
**Bitcoin**
Bitcoin can't be inflated to infinity, it has a max supply of 21 Million BTCs! And the priority of the devs is to maintain that supply at whatever costs necessary... It's a scarce, divisible, portable asset, all the characteristics that hard money and a store of value should have. Scarcity and knowing the supply is one of the most important things in Bitcoin! But how can one check this? How can one be sure that Bitcoin is scarce?! By running full nodes!
Many in the crypto space don't understand that a full Bitcoin node enforces the rules of the consensus by only storing the blocks that are following the consensus rules that, that specific node, accepts... It is in the best interest of the miners to follow the majority of the full nodes, if they don't, they might be in for a fork of the chain and loss of a significant user base... especially if the nodes that are not accepting the blocks are some of the large players in crypto, like exchanges and merchants... This is what is called a UASF(User Activated Soft Fork), it is what happened during the SegWit era, where miners didn't want to implement SegWit, and UASF ended up being a critical component for the acceptance of SegWit.
Now, imagine this case in a scenario where miners decide to mine more Bitcoin. A miner suddenly decides to create a block with more block rewards than normal... Let's say 1 Million BTC created in a block! As soon as that miner finished creating that block, it would send the block to the network, the nodes would see the block, compare it with the consensus rules that currently only allow the creation of 6 BTC per block, and the nodes would reject that block, they would reach the consensus that, that specific block, was not created right... This is the mechanism that makes sure the supply is scarce, because full nodes only store blocks that are created according to the consensus rules, and the consensus rule is that only close to 6 BTC are created in each block.
**But what if this mechanism fails?**
This is highly unlikely to happen, there is a nearly 0% chance that this mechanism fails, the tech has advanced far enough that an inflation bug is very highly unlikely to happen... but how can we check the supply? How can we be 100% sure about what the supply is? Especially since knowing the current supply makes Bitcoin even better as money! Again...we know this by running a bitcoin full node!
Running a Bitcoin full node is really easy. And when I mean really easy, I do mean really easy, it takes 5 minutes to start running one... after it starts running it will take a few hours, depending on the computer, to go through the whole blockchain and validate every single transaction that happened in the past, this is done automatically, the user doesn't need to do anything... But this still doesn't answer how we can be 100% sure of what the current supply is?!
After the node finishes fully syncing, the user just needs to do an RPC call to the node to check how many UTXO it has!
UTXO (Unspent transaction output) are basically one of the main ways Satoshi Nakamoto found to solve the double-spend problem. Very very simply, all Bitcoins that can be transacted are kept in UTXO until they are transacted. Using this, the nodes just need to check for all UTXO on the blockchain at any point in time to know the current supply! And that's easy to do because bitcoin core clients already come with this command!
"bitcoin-cl gettxoutsetinfo" is the command to do to an RPC(Remote Procedure Calls), this gets a little information about the UTXOs
{
"height" : 225494,
"bestblock" : "00000000eb0443fd7dc4a1ed5c686a8e995057805f9a161d9a5a77a95e72b7b6",
"transactions" : 335344,
"txouts" : 2221582,
"bytes_serialized" : 72130407,
"hash_serialized" : "3d14832b1b468f52ce942d4b9dc0c76a54fa6865207ff64540105403e3109f43",
"total_amount" : 10886823.50380013
}
(can't do it on my node because it's not with me at the moment)
As the above shows, at the time that that specific RPC call was done, there were 10886823.50380013 Bitcoins in circulation! This is a really good quality for hard money to have, knowing the supply...
But what about other blockchains?
**Ethereum!**
Now, this is where it gets more complicated! Ethereum, at the moment, doesn't have this function in the clients, there is no way to do an RPC call and know the total supply of ETH... but is this bad?
**Let's first look at what Ethereum is!**
Ethereum is a blockchain that devs can program really complex Turing Complete smart contracts, these Smart Contracts can do automated tasks such as transferring tokens or calculating things and infinite loops... what this allows is for really complex automated programs to be built on top of Ethereum, programs that if done correctly, can one day become 100% permissionless and trustless without any devs having the keys to change them or influence them, and these programs will be alive for as long as Ethereum is alive!
This already happens with tornado.cash and Uniswap! They are truly permissionless and trustless, the devs can't influence them, no government can shut them down, no government can force the devs to change them because they literally don't have the keys anymore...
ETH is the gas token used in Ethereum, it's the token that people need to use to pay for gas and to use these complex programs, or to mint new tokens, and, in the near future, to stake.
Some programs do use ETH for more things than for gas. Like MakerDAO uses to mint the stablecoin DAI! Or Compound uses as collateral for loans... but ETH isn't really supposed to be money, it's supposed to be used as gas to run the financial system.
Ethereum is complex, and the number of transactions, experimentation, dapps, etc... make it bloated! Hard money isn't supposed to be complex, it's supposed to be stable and easy at the base layer! This is what Bitcoin does by restricting the block size thus increasing the decentralization, and by making the system very simple with some more complex features here and there, but nothing like the Turing Complete smart contracts of Ethereum. So, we can say that ETH is not hard money at the moment, even though some Etherians try to make it and say it's hard money, it isn't, and, it's about to become even more difficult with the move to PoS that is going to happen, mainly because PoS makes the blockchain less decentralized and less permissionless and trustless...
So, with all of this in mind, do we really need to know the total amount of Ether in existence? Especially since it isn't supposed to be hard money?! I say no, it isn't... the nodes are already validating the blockchain and enforcing the right issuance, so no need to actually know the total amount of Ether in existence because the nodes are enforcing the right amount via consensus.
But why not do it anyway? Why not create a script that runs through the whole blockchain to calculate the amount of ether in existence?!
Ethereum works very differently from Bitcoin, while on BTC all the BTCs that are usable, thus the entire current supply, is "stored" in UTXO; on Ethereum because it's more complex it doesn't need UTXO, it uses a system similar to account balances, where you basically deduct from one wallet and increase it in another wallet... and what keeps the double-spend away is the fact that Ethereum uses a system with nuances.
Because of this, it gets harder to count all the Ether in existence, but there is more...
On Ethereum there are also many things that complicate the calculation of the right amount of Ether in existence, some even depend if a user wants to count certain ether as ETH that exists or not! Let me describe two of them:
**Uncle blocks:**
On Ethereum, the whole ETH that is issued doesn't go directly to the winning block, a large portion of the ETH issued is distributed between uncle, nephews and parent blocks. These blocks are basically stale blocks that still get rewarded with ETH. This allows for the reward of stale blocks, it allows for miners that have a lower hash rate to get rewarded and allows for the incentivization of miners to not create empty blocks.
The ETH issued in these blocks is hard to calculate on Ethereum and sometimes are only incorporated a few blocks after. This makes it difficult to calculate the right supply.
**Burn address**
Do they count? Now, this is a tough question... Does the ETH in the burn address count as ETH? It's burned, meaning, no one has the keys for that address and no one can move it, there is even a specific address for that, the 0X00... but does it count as ETH?
These are two of many different features that might change the ETH supply, not increasing it, but diminishing it.
Now, there exists currently a pretty good script that counts the current max circulating supply, basically what it does is that it gets the number of blocks, it assumes certain issuance rates that the nodes enforced, it counts the uncle blocks, and calculates the supply. But this shouldn't be how it's done... mainly because the script assumes issuance rates instead of asking the blockchain, this is not how we do things in crypto! Our main point is "Verify, don't trust!" Thus, we shouldn't be trusting the issuance rate by putting it on the script, we should get this directly from the blockchain!
This is a feature that the Ethereum devs are going to put in one of the next clients. After Ethereans were bashed by Bitcoiners that there is no way of knowing the ETH supply and that because of that, ETH couldn't be money, devs are developing it to put it into one of the next... Their bashing only made Ethereum grow better and become closer to being hard money... can it ever be hard money? I don't think so... but who knows what the future HODLs for us HODLers!
**Other Resources:**
https://www.buybitcoinworldwide.com/uasf/
https://blockonomi.com/utxo-vs-account-based-transaction-models/
https://blog.okcoin.com/2020/05/12/btc-developer-asks-where-are-the-coins/
https://bitcoin.stackexchange.com/questions/24163/what-does-the-bitcoin-rpc-mean-and-how-is-it-used
https://bitcoin.stackexchange.com/questions/24675/what-is-gettxoutsetinfo-used-for
Images Free Source - 1, 2,3,4,5,6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27 - Tradingview snapshots too. https://pixabay.com/pt/gols-configura%C3%A7%C3%A3o-escrit%C3%B3rio-2691265 https://commons.wikimedia.org/wiki/File:Veterinary_symbol.jpg https://commons.wikimedia.org/wiki/File:Coffee_cup_flat.svg https://pixabay.com/pt/silhueta-reimpress%C3%A3o-pata-p%C3%A9-tra%C3%A7o-1314467/ https://pixabay.com/pt/impress%C3%A3o-da-pata-patas-imprime-941498/ https://pixabay.com/pt/m%C3%A9dico-medicina-homem-m%C3%A9dica-2025726/ https://pixabay.com/illustrations/apps-social-media-networks-internet-426559/ https://pixabay.com/illustrations/icon-set-social-media-contact-web-1142000/ https://pixabay.com/vectors/ads-advertisement-website-layout-1663031/ https://pixabay.com/vectors/economy-icons-stock-index-symbol-1294549/ https://commons.wikimedia.org/wiki/File:Brave_lion.png https://commons.wikimedia.org/wiki/File:Brave_Basic_Attention_Token_(BAT)_Logo.svg https://pixabay.com/illustrations/social-media-manager-online-1958774/ https://pixabay.com/illustrations/bitcoin-cryptocurrency-virtual-3024279/ https://peakd.com/hive-167922/@teutonium/hard-money-and-supply-ethereum-and-bitcoin
**Question of the day: Do you run a node? Have you tried doing these RPC calls to see the current Supply of Bitcoin?**
**Convert your Bitcoin to EUR/USD :** **Coinbase**
**Buy all kinds of Cryptocurrency:** **Binance**
**Join Steemmonsters, one of the top dapps on blockchain:** **Stemmonsters** https://www.coinbase.com/join/59bdc7b8e06d7b00b14b085a https://www.binance.com/?ref=17269602 https://steemmonsters.com/?ref=teutonium
**Posted Using** **LeoFinance** https://leofinance.io/@teutonium/hard-money-and-supply-ethereum-and-bitcoin
Crypto CashFlow! Crypto Social Media! How much I've made so far?!
Need more money!
I think every new investor has this problem, only the investors that were born rich don't have this issue! We all need more money! More money to invest in the projects, more money to buy real estate, more money to travel, more money to start a company, more money!
In the end, the amount of money one has is highly dependent on the cash flow coming in and also on the portion of that cash flow one can save! If a person is earning $1000 and spending $800 per month in groceries, bills, hobbies, etc... only $200 will be left to invest! This is not a huge amount! $200 per month can compound throughout the years, but you know what is better than $200? $400!$600! $1000!!
There are only two things a person can do if the leftover amount that one can use to invest is low... save more and increase the amount of cashflow!
In my last post, I talked about some of the ways that I'm increasing my cashflow! I mainly invest in coins that give me gas and that I believe will be around in 10 or 20 years, I also use interest-earning platforms like Celsius to earn interest on my crypto! In the future, I have many plans to diversify, not only inside crypto but also outside crypto, for example buying real estate, dividend stocks, lending platforms, etc...
This however is not the only way that I'm currently increasing my cashflow!
**Crypto Social Media!**
I use a lot of crypto social media platforms to earn some crypto! This is the other way that I'm increasing my cashflow, by posting content on different crypto social media websites and getting some crypto back!
I use a lot of different platforms, some are giving better returns than others, but since the content is the same in all platforms the hassle to post in all of them isn't that big.
I also don't normally sell the crypto that I earn through creating content. If it goes to zero it goes to zero, if it goes to a new All-time high I'll think about selling...
**Steem, Hive and LeoFinance**
Hive is a fork of Steem, some say it's the original Steem... I wouldn't say it's the original Steem, the original Steem was full of mistakes like stake concentration on steemit.inc's wallet, Hive doesn't have this, I see Hive as a much better version of Steem! Regardless of that, I started posting on Steem at the beginning of 2018, went through the whole bear market posting content on Steem, and when the fork happened I decided to stick with Hive and sell all my STEEM...
When I sold all my STEEM for Bitcoin, my STEEM stake was worth around $300, so that's what I made solely on STEEM.
On HIVE my current stake is worth around $370, and I'm not thinking about selling any time soon, I also have some Hive-engine tokens which I'm also not thinking about selling any time soon, my main Hive-engine bag is LEO, which is worth around $112 at current prices.
So, just between writing content on Steem and now Hive I made close to $782, at current prices! Not bad!
**Publish0x**
Publish0x is a content creation platform more directed towards blogs, it doesn't have its own crypto, but when someone votes for my posts or I vote for someone else's posts I can get either BAT, ETH, LRC or DAI! They are well-known cryptos that I don't mind HODLing for a while.
I haven't socialized as much on Publish0x as I have on Hive, so I haven't created a strong network of people on the platform, but still, I have made a good enough amount of dollars by using Publish0x!
Currently, I've received $44, which is great for a platform that I only started posting recently and that I haven't made that big of an effort to socialize with other people. The crypto distribution that I got:
Even though I don't socialize as much as I do on Hive, Publish0x is one of my favorite places to read content... the amount of in-depth technical knowledge about crypto, programming, EIPs, BIPs, etc... is overwhelming! Something that I haven't seen as much in other content platforms, not even Hive!
If you want to help me out and are not a publish0x user, use this link to register. https://www.publish0x.com/?a=WPe9283aLy
**Uptrennd**
Uptrennd is similar to Publish0x in terms of UI, the difference is that they have their own crypto called 1UP.
I've been leveling up on Uptrennd, which consumes 1UP and I've also boosted some posts that consume 1UP, so I can't make an exact estimate of how much I've earned. I'm going to keep leveling up my account until the end of the bull market, only then will I start taking something out.
**SoMee**
Crypto platform similar to Twitter or Facebook, they have their own token called ONG. The way it works is quite complex, but there are curation rewards and also rewards from received upvotes. I haven't spent much time on it, just cross-post from Twitter what I tweet.
Same thing as uptrennd, been powering up 100% of my rewards, just yesterday powered up what supposedly was worth $50. My main issue with SoMee is the fact that I have to do KYC to be able to withdraw money. This basically puts a barrier for people to be able to sell their ONG, so those supposedly $50 might be hard and dangerous to retrieve from the app and there might not be enough liquidity in the market for large orders.
I'm going to keep powering up everything I earn on SoMee, if I ever sell it will be at the end of the bull market, and it will be the curation rewards from voting.
**read.cash**
This is one that I've only recently started posting on so I can't say much. It's similar to Publish0x, the amount of money I get is proportional to the number of votes I get! I've only posted three times on it and already got $0.5 in BCH, which is great! As soon as I have a good enough bag of BCH on the platform I'll probably transfer it to Celsius to start earning interest on BCH! I don't like selling, even if they are not my favorite coins... who knows where the next breakthrough will come from! It might be BCH, who knows...
**Rebuzz**
Similar to Instagram, but with their own coin called BUZZ, I do enjoy posting here. The UI is quite easy to understand, and since it is very similar to Hive in terms of rewards it wasn't hard for me to understand. What I normally do is cross-post from twitter just like I do with SoMee.
So far I've earned 8.8k BUZZ, which are powered up, this amounts to $16 if sold, it's not much, but it is something...
I'll keep powering up and increasing my bag, maybe the platform will have a future and these $16 can increase a lot in price, and who knows, these 8.8k powered up will give me thousands in curation rewards!
**discussions.app**
This is a blogging platform that runs on top of eos! One of the developers behind it is a friend of mine. I haven't been posting much there lately, but the rewards are quite good at the moment. They have their own coin called ATMOS and the way to earn on the platform is to get tipped by the users of the platform. A good post makes around 100ATMOS and can also earn other different coins like EOS, Vigor, etc... The 100ATMOS are around $2 right now, but ATMOS just had an amazing pump, so keep that in mind.
So, if I add up the USD value of the platforms that I can actually account for, it comes to around $850! $850 for creating content that I like, content that incentivizes me to learn, to research different techs, different cryptos, different sciences, different topics! To me, this is awesome!
There are quite a few platforms that I still need to give a try, like flote.app, twetch, and Appics! And even WordPress, which is not exactly a crypto social network but it could, theoretically, increase my cash flow with ad revenue. But for now, these are the ones that I'm using and that I intend to keep using for a few years. Hopefully, as crypto develops, the price of these tokens will go up, more users will sign up, ad revenue will start buying some of these tokens, and in a couple of years, I might get a lot of cash flow coming from these...
Images Free Source - 1, 2,3,4,5,6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27 - Tradingview snapshots too. https://pixabay.com/pt/gols-configura%C3%A7%C3%A3o-escrit%C3%B3rio-2691265 https://commons.wikimedia.org/wiki/File:Veterinary_symbol.jpg https://commons.wikimedia.org/wiki/File:Coffee_cup_flat.svg https://pixabay.com/pt/silhueta-reimpress%C3%A3o-pata-p%C3%A9-tra%C3%A7o-1314467/ https://pixabay.com/pt/impress%C3%A3o-da-pata-patas-imprime-941498/ https://pixabay.com/pt/m%C3%A9dico-medicina-homem-m%C3%A9dica-2025726/ https://pixabay.com/illustrations/apps-social-media-networks-internet-426559/ https://pixabay.com/illustrations/icon-set-social-media-contact-web-1142000/ https://pixabay.com/vectors/ads-advertisement-website-layout-1663031/ https://pixabay.com/vectors/economy-icons-stock-index-symbol-1294549/ https://commons.wikimedia.org/wiki/File:Brave_lion.png https://commons.wikimedia.org/wiki/File:Brave_Basic_Attention_Token_(BAT)_Logo.svg https://pixabay.com/illustrations/social-media-manager-online-1958774/ https://pixabay.com/illustrations/money-bags-cash-money-bag-dollar-3404346/ https://leofinance.io/hive-167922/@teutonium/crypto-cashflow-crypto-social-media-how-much-i-ve-made-so-far
**Question of the day: What other crypto social media platforms do you know about?**
**Convert your Bitcoin to EUR/USD :** **Coinbase**
**Buy all kinds of Cryptocurrency:** **Binance**
**Join Steemmonsters, one of the top dapps on blockchain:** **Stemmonsters** https://www.coinbase.com/join/59bdc7b8e06d7b00b14b085a https://www.binance.com/?ref=17269602 https://steemmonsters.com/?ref=teutonium
**Posted Using** **LeoFinance** https://leofinance.io/@teutonium/crypto-cashflow-crypto-social-media-how-much-i-ve-made-so-far
Dividends, Interest, Staking and Gas! My Crypto Earnings!
How much...Every single time!
Every single time I tell people that I've invested in cryptocurrencies they always ask me the same question! "How much have you made?"!
My answer is always the same thing... "I haven't sold any, but if I did I would be in profit"... And this is where most normal people start saying "If you are in profit you should sell! Imagine what you could do with that money! You could buy a car! Imagine that the price goes down and you stop being in profit!"
For some reason, most normal people have a trader's mentality! A mentality of buying to quickly sell higher. Most people don't have an investor's mentality! A mentality of buying and HODLing for years, decades, or never even selling, spending their lives just using dividends or using loans collateralized with assets! That's the investor's mentality! And that's my mentality...
If I sold today I would have 3x my invested fiat! But why would I do this?! Why would I sell a scarce asset (crypto) for inflationary fiat money (euros)! It would make no sense! Euros, dollars, and all fiat currencies are supposed to be used fast. As soon as someone gets fiat they should pay the bills, buy groceries, and, with the extra fiat, either open a high-interest savings account or invest 100% in the market. If the market is in trouble either invest even more to get a better buy-in, or buy gold! This is how fiat money is supposed to be used...but regardless of this!
The important question is: Just going by the dividends, dividend-like mechanisms, or the interest I've earned, how much have I made so far?! How much would I be able to spend without removing any of my invested capital!?
**VeChain**
VeChain, VET, is my biggest bag, my first love, and it keeps on giving! It's a blockchain with a two token system where the second token, VTHO, is used for gas. This second token can be more or less generated depending on the utilization of the blockchain... This means that high utilization will increase the VTHO return a VET hodler gets! This return is both in VTHO value and in VTHO generation rate!
I've mostly accumulated VTHO and used it to buy SHA, so far the return VET has given me, just in VTHO gas that I used to buy SHA, is around $270...(price appreciation of SHA included)
**Celsius**
On Celsius, any person can create a wallet, go through the KYC, and deposit funds to start earning interest in crypto. What basically happens is that companies, exchanges and normal people can get loans from Celsius putting twice the collateral locked on the app, and they will have to pay everything back plus interest, and what the depositors get is this interest.
I've mostly used the option to earn all the interest in CEL tokens, so the value has also gone up with the price appreciation of CEL! The app has a box that always keeps the interest earned updated! So far, I've earned $197 on Celsius. Not bad for an 8 months average user!
These are my two main ways to earn interest or earn crypto in dividend-like mechanisms. I haven't put Hive in this list because I didn't keep track of my Hive purchases! They haven't been that big so it wouldn't amount to much... most of my Hive and Hive-Engine tokens have been accumulated to creating content and 100% powering up the rewards!
Right now, I'm accumulating crypto on Celsius, mostly BTC, ETH, CEL and BAT, until I'm satisfied with the amount I got or until I feel like I've put too much money in the same basket! There are still many coins out there that might give awesome returns in the near future! I need to get them all... I need to get more cash flow because the STO boom is just around the corner! And when it comes, in my opinion, it's going to be a big boom in crypto! And I'll need huge amounts of cash flow to get even bigger STO bags!
Images Free Source - 1, 2,3,4,5,6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27 - Tradingview snapshots too. https://pixabay.com/pt/gols-configura%C3%A7%C3%A3o-escrit%C3%B3rio-2691265 https://commons.wikimedia.org/wiki/File:Veterinary_symbol.jpg https://commons.wikimedia.org/wiki/File:Coffee_cup_flat.svg https://pixabay.com/pt/silhueta-reimpress%C3%A3o-pata-p%C3%A9-tra%C3%A7o-1314467/ https://pixabay.com/pt/impress%C3%A3o-da-pata-patas-imprime-941498/ https://pixabay.com/pt/m%C3%A9dico-medicina-homem-m%C3%A9dica-2025726/ https://pixabay.com/illustrations/apps-social-media-networks-internet-426559/ https://pixabay.com/illustrations/icon-set-social-media-contact-web-1142000/ https://pixabay.com/vectors/ads-advertisement-website-layout-1663031/ https://pixabay.com/vectors/economy-icons-stock-index-symbol-1294549/ https://commons.wikimedia.org/wiki/File:Brave_lion.png https://commons.wikimedia.org/wiki/File:Brave_Basic_Attention_Token_(BAT)_Logo.svg https://pixabay.com/illustrations/social-media-manager-online-1958774/ https://leofinance.io/hive-167922/@teutonium/dividends-interest-staking-and-gas-my-crypto-earnings
**Question of the day: Do you normally invest in cryptos that give you dividends, gas or interest? What are your favorite ones?**
**Convert your Bitcoin to EUR/USD :** **Coinbase**
**Buy all kinds of Cryptocurrency:** **Binance**
**Join Steemmonsters, one of the top dapps on blockchain:** **Stemmonsters** https://www.coinbase.com/join/59bdc7b8e06d7b00b14b085a https://www.binance.com/?ref=17269602 https://steemmonsters.com/?ref=teutonium
**Posted Using** **LeoFinance**
https://leofinance.io/@teutonium/dividends-interest-staking-and-gas-my-crypto-earnings
Bitcoin Going Up?! Basic charting BTC, ETH, VET, CEL
It's happening!
Day after day, week after week, month after month! We've been waiting for a move in the crypto market for so long! Sometimes it almost felt like it was never coming... but it's now upon us.
It's happening folks! Bitcoin is finally going up, and it seems to be breaking through all the trendlines.
**BTC**
On the non-log chart, it broke through the bear market trendline and it pumped like crazy! Non-log was an early sign of bullishness, I even tweeted about it yesterday morning:
With the way the market is looking you wouldn't catch me shorting... Just realized that the non-log chart broke through the bear market trendline, which is an early sign of strength! Now we just need a close above $10.900 to get a huge pump in my opinion. $BTC #BTC
#Bitcoin
https://twitter.com/Teutonium/status/1287633832984883200?s=20 https://peakd.com/trending/btc https://peakd.com/trending/bitcoin
Non-Log Chart. Check the red arrows and the trendlines, once it breaks it goes up.
Now, the log-chart is an even better sign of bullishness, mainly because the price needs to go even higher to confirm a breakout out of the bear market trendline in the log chart... and guess what! It did...
Right now the price broke through the bear market trendline on the non-log and the log chart! This is so bullish that I can't even describe it! Last time we did something like this we went from $3400 to $14.000! That's right, last time we did this it was followed by a huge pump only three days after!
Log Chart. Check the red arrows and the trendlines, once it breaks it goes up.
Not sure if it's going to take three days or longer, let's hope that this isn't a fakeout (I doubt it), but if this is for real, get your asses ready for prices between $18.000-$14.000!
**VET**
VeChain, one of my main bags is reseting the indicators, after a huge move up from $0.003 to $0.021 it needs a rest and maybe even a retrace to get ready for the next leg up which will probably only happen after Bitcoin does a new ATH (above $20.000).
This is a long-term hodl, so I'm not in it to trade. But it's always good to analyze the charts and see how things are going.
**ETH**
Another of my long-term bags! Not as big as VeChain but has a decent size. It broke from the bear market trendline consolidated and it's now on the move up. It's doing what I expect Bitcoin to do after it consolidates, so in a way, we can say Ethereum is the one leading the market!
It's under heavy resistance, might have to calm down before bursting through, but I expect for it to continue to go up! This is a new paradigm the bear market is, in my opinion, soon to be a thing of the past.
**CEL**
This is also one of my bags that I want to HODL long-term, it seems the indicators are reseting without much dump price-wise... Long-term this has all the fundamentals to go up in price and has real demand coming from a business...
It's in a channel going upwards and the only time it went under the midline of the channel was when Covid hit the whole market, so worst case scenario it drops to the bottom of the channel, but I think it will bounce in the midline of the channel and keep going up...
Charting to keep an eye on the market, to know what to expect from my bags and if some look better to buy then others.
Images Free Source - 1, 2,3,4,5,6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27 - Tradingview snapshots too. https://pixabay.com/pt/gols-configura%C3%A7%C3%A3o-escrit%C3%B3rio-2691265 https://commons.wikimedia.org/wiki/File:Veterinary_symbol.jpg https://commons.wikimedia.org/wiki/File:Coffee_cup_flat.svg https://pixabay.com/pt/silhueta-reimpress%C3%A3o-pata-p%C3%A9-tra%C3%A7o-1314467/ https://pixabay.com/pt/impress%C3%A3o-da-pata-patas-imprime-941498/ https://pixabay.com/pt/m%C3%A9dico-medicina-homem-m%C3%A9dica-2025726/ https://pixabay.com/illustrations/apps-social-media-networks-internet-426559/ https://pixabay.com/illustrations/icon-set-social-media-contact-web-1142000/ https://pixabay.com/vectors/ads-advertisement-website-layout-1663031/ https://pixabay.com/vectors/economy-icons-stock-index-symbol-1294549/ https://commons.wikimedia.org/wiki/File:Brave_lion.png https://commons.wikimedia.org/wiki/File:Brave_Basic_Attention_Token_(BAT)_Logo.svg https://pixabay.com/illustrations/social-media-manager-online-1958774/ https://peakd.com/hive-167922/@teutonium/bitcoin-going-up-basic-charting-btc-eth-vet-cel
**Question of the day: Are you expecting BTC to keep going up or do you think it's fake pump before going down?**
**Convert your Bitcoin to EUR/USD :** **Coinbase**
**Buy all kinds of Cryptocurrency:** **Binance**
**Join Steemmonsters, one of the top dapps on blockchain:** **Stemmonsters** https://www.coinbase.com/join/59bdc7b8e06d7b00b14b085a https://www.binance.com/?ref=17269602 https://steemmonsters.com/?ref=teutonium
**Posted Using** **LeoFinance** https://leofinance.io/@teutonium/bitcoin-going-up-basic-charting-btc-eth-vet-cel
Selling Equity... Celsius Network and BnkToTheFuture!
Equity...
You build it! You own it! But sometimes you need to give a portion away... One of the greatest questions in any entrepreneur's mind... when to sell equity to get funds! When to lose a portion of the company that you've been sweating and losing sleep over...
It's a hard question, we only need to see one episode of "Shark Tank" to know how difficult it is for entrepreneurs to sell equity in their creations... but sometimes it's needed! Sometimes companies need to do it... just like Celsius is doing!
Celsius, a company that allows crypto investors to earn interest on their cryptos, and also borrow money with their cryptos as collateral, is currently selling equity in their company through bnktothefuture a platform specifically made for crypto enthusiasts, which means anyone can buy equity in it, no VCs will be in charge. At first, I was kinda scared. If they sell too much, someone else would have power over the company, and they could make decisions that maybe wouldn't be beneficial for the community! But Alex Mashinsky said he wouldn't lose control over the company! Which is amazing! And now, with their equity sale almost done, CelsiusNetwork has millions of dollars to spend on further expanding their business. https://bnktothefuture.com/
https://www.youtube.com/watch?v=sHzBOcoT3Tw
They have already raised 15 Million dollars without VCs!
15 Million dollars that they can use to get more partnerships, to expand to other countries, to get more depositors, to get more listings and advertisement, to give more banking services and interest to more population around the world! Bank the Unbanked!
Getting equity in good crypto companies is a great opportunity for great returns! Just look at what happened with block.one equity. The investors were able to sell their shares for a 6500% return just a few months later!
With all this money in the bank, I wonder what Alex Mashinsky and the rest of the Celsius team is going to do with it... There are talks about a Celsius card, so maybe we are going to see that soon. The number of cryptos allowed on the app should also increase, which it has in the past week with the addition of BSV and ETC (don't like either, but others might). More teams and team members would also be a great addition, Celsius supports many assets, but there are still soo many things that Celsius can do to bank the unbanked and to provide more financial services to the normal person, a further team expansion could develop all those solutions much faster...
This, in my opinion, is the only reason someone should sell equity in a company, to further expand it... and maybe, who knows, someday buy it all back with the expansion profits!
There are still 2Million dollars of Celsius equity being sold on BnkToTheFuture! Maybe try grabbing this opportunity! (Only to accredited investors or to non US people)! https://app.bnktothefuture.com/pitches/celsius-network
Images Free Source - 1, 2,3,4,5,6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27 - Tradingview snapshots too. https://pixabay.com/pt/gols-configura%C3%A7%C3%A3o-escrit%C3%B3rio-2691265 https://commons.wikimedia.org/wiki/File:Veterinary_symbol.jpg https://commons.wikimedia.org/wiki/File:Coffee_cup_flat.svg https://pixabay.com/pt/silhueta-reimpress%C3%A3o-pata-p%C3%A9-tra%C3%A7o-1314467/ https://pixabay.com/pt/impress%C3%A3o-da-pata-patas-imprime-941498/ https://pixabay.com/pt/m%C3%A9dico-medicina-homem-m%C3%A9dica-2025726/ https://pixabay.com/illustrations/apps-social-media-networks-internet-426559/ https://pixabay.com/illustrations/icon-set-social-media-contact-web-1142000/ https://pixabay.com/vectors/ads-advertisement-website-layout-1663031/ https://pixabay.com/vectors/economy-icons-stock-index-symbol-1294549/ https://commons.wikimedia.org/wiki/File:Brave_lion.png https://commons.wikimedia.org/wiki/File:Brave_Basic_Attention_Token_(BAT)_Logo.svg https://pixabay.com/illustrations/social-media-manager-online-1958774/ https://pixabay.com/photos/bitcoin-crypto-virtual-money-3024280/ https://leofinance.io/hive-167922/@teutonium/selling-equity-celsius-network-and-bnktothefuture
**Question of the day: Have you ever bought equity in a crypto company before? If no, do you think you might in the future?**
**Convert your Bitcoin to EUR/USD :** **Coinbase**
**Buy all kinds of Cryptocurrency:** **Binance**
**Join Steemmonsters, one of the top dapps on blockchain:** **Stemmonsters** https://www.coinbase.com/join/59bdc7b8e06d7b00b14b085a https://www.binance.com/?ref=17269602 https://steemmonsters.com/?ref=teutonium
**Posted Using** **LeoFinance** https://leofinance.io/@teutonium/selling-equity-celsius-network-and-bnktothefuture
Sidechains? Ethereum a Sidechain? Liquid?
Sidechains
Sidechains, a term that many talk about, many use, but most don't understand what a sidechain is... most think that because a chain is a sidechain to another chain it makes it automatically inferior to that other chain! It's not true...
Sidechains can be more decentralized, sidechains can have more use-cases, sidechains can come in many different forms, most sacrifice one thing for another, they can even have different consensus methods and allow smart contracts! The fact that a chain is a sidechain to another doesn't necessarily make it worse or better... so what is a sidechain?
A sidechain is a blockchain that has a peg-in and peg-out with a different chain! Let's look at the example of Liquid!
Liquid is a Bitcoin sidechain that allows you to transact what they call L-BTC with more privacy and faster, they do this by having different block times, and having a federation in place that are the miners of that sidechain. What makes it a sidechain of Bitcoin is the fact that to generate L-BTC one has to send BTC on the main chain to an address to lock it up, this is the peg-in mechanism that I was talking about... BTC gets locked in the main chain, and L-BTC is created on the sidechain Liquid. The peg-out works in the same way, but in reverse, someone sends L-BTC to an address to unlock the BTC on the main chain.
The fact that a sidechain is any chain that has a peg-in and peg-out mechanism with another chain makes it so Bitcoin can never be a sidechain to another chain. There is no way to create tokens on Bitcoin, no good ways to tokenize ETH on Bitcoin, thus, Bitcoin can never be a sidechain to another chain. This doesn't make Bitcoin superior or inferior... it just makes it not be able to be a sidechain.
Ethereum...
And this is where Ethereum comes in! Currently, I would say Ethereum is the best sidechain Bitcoin has even though Bitcoiners don't like to admit it.
Ethereum allows BTC peg-in and peg-out mechanisms through tokenization and smart contracts, wBTC is one of such mechanisms, it isn't trustless, but it allows BTC to be tokenized on Ethereum, wBTC actually has more BTC locked up than the Lightning Network has...
This tokenized wBTC can be used in many of the DeFi smart contracts and platforms, platforms like Aave, Compound or Uniswap!
When compared to Liquid, I would say Ethereum currently has the advantage. It has more developers, more use-cases, more platforms, more users, everyone is looking at Ethereum... while not everyone is looking at Liquid, and it still lacks a lot of the use-cases that Ethereum has.
There are a few bad things about Ethereum being a sidechain to Bitcoin!
Fees on Ethereum are paid in ETH, so it doesn't help the security or price of Bitcoin, although, fees on Liquid go to the federation, which also doesn't help the security of Bitcoin.
However, the fact that fees are paid in L-BTC which is tokenized BTC, creates this fee use-case for BTC, which increases demand and drives the price of BTC up, which means that the fees the Bitcoin miners get on the main-chain are valued at a higher USD value, which increases the security of BTC.
Also, asset creation on Liquid helps the price of BTC, this because these assets are minted through the use of L-BTC, while on Ethereum tokens are created with ETH, which doesn't help the price of BTC, thus, using Liquid to create assets uses L-BTC, which also helps out the security of BTC undirectly, this through increasing the number of use-cases and demand for BTC and thus increasing the USD value of fees on Bitcoin.
With all of this said, Ethereum as a sidechain locks up BTC and allows many use-cases for BTC, which decreases supply on the market and drives demand up, which makes it more likely for the price of BTC to go up, which also increases the USD value of fees the Bitcoin miners get.
Ethereum and Liquid are both great sidechains to Bitcoin, Liquid is better for Bitcoin's price and security than Ethereum, but Ethereum also has its advantages. In the end, having the choice of which sidechain to use is always the best solution, especially with projects like tBTC which try to create tokenized trustless BTC on Ethereum, an improvement on the current wBTC which isn't trustless...
Having multiple choices is freedom... and last time I checked, this whole space is based on freedom and liberty.
Images Free Source - 1, 2,3,4,5,6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27 - Tradingview snapshots too. https://pixabay.com/pt/gols-configura%C3%A7%C3%A3o-escrit%C3%B3rio-2691265 https://commons.wikimedia.org/wiki/File:Veterinary_symbol.jpg https://commons.wikimedia.org/wiki/File:Coffee_cup_flat.svg https://pixabay.com/pt/silhueta-reimpress%C3%A3o-pata-p%C3%A9-tra%C3%A7o-1314467/ https://pixabay.com/pt/impress%C3%A3o-da-pata-patas-imprime-941498/ https://pixabay.com/pt/m%C3%A9dico-medicina-homem-m%C3%A9dica-2025726/ https://pixabay.com/illustrations/apps-social-media-networks-internet-426559/ https://pixabay.com/illustrations/icon-set-social-media-contact-web-1142000/ https://pixabay.com/vectors/ads-advertisement-website-layout-1663031/ https://pixabay.com/vectors/economy-icons-stock-index-symbol-1294549/ https://commons.wikimedia.org/wiki/File:Brave_lion.png https://commons.wikimedia.org/wiki/File:Brave_Basic_Attention_Token_(BAT)_Logo.svg https://pixabay.com/illustrations/social-media-manager-online-1958774/ https://pixabay.com/photos/bitcoin-cryptocurrency-digital-2007769/ https://pixabay.com/photos/doubt-decision-devil-angel-heaven-4803407/ https://pixabay.com/photos/doors-choices-choose-open-decision-1767563/ https://leofinance.io/hive-167922/@teutonium/side-chains-ethereum-a-side-chain-liquid
**Question of the day: If any of the info is wrong, please do tell which part, we are here to learn, and I'm no expert, maybe there are things I'm not considering, maybe there are things that are confusing... Trying to predict how this whole system can work is hard, especially this early**
**Convert your Bitcoin to EUR/USD :** **Coinbase**
**Buy all kinds of Cryptocurrency:** **Binance**
**Join Steemmonsters, one of the top dapps on blockchain:** **Stemmonsters** https://www.coinbase.com/join/59bdc7b8e06d7b00b14b085a https://www.binance.com/?ref=17269602 https://steemmonsters.com/?ref=teutonium
Posted Using LeoFinance https://leofinance.io/@teutonium/side-chains-ethereum-a-side-chain-liquid
Cryptocurrency https://www.publish0x.com/tag/cryptocurrency
Attention and Data! Different Ways To Earn BAT
Attention!
The age of Internet and social media has given birth to a generation of people that like fast information, we want everything summed up and easy to read in a single click! We don't want to spend hours upon hours looking for a little bit of information about a certain topic, this is how most of the millennial generation thinks... I would know, I'm part of it.
This kind of mindset has given rise to one problem... Our attention span has seriously diminished. Millennials are one of the generations with the least attention span, still... it's one of the generations with the highest level of attention and data monetization.
Attention and data are two of the most valuable things in the world right now, forget gold, forget oil (black gold), forget cocaine(white gold), forget all of that... Nowadays, attention and data are where the money is at.
The biggest companies in the world are companies that deal in data and attention, google monetizes our attention by giving us ads to watch, and keeps all the money, all the value that our attention has! Amazon uses ads to sell us products! Ads are the way to monetize attention, ads are used throughout the internet to monetize websites, and to sell products. And we, the true owners of that data and the true owners of that attention get next to nothing in return... or do we?
The paradigm is changing, and fast, people are starting to take the Red pill and waking up from this illusion that ad services and data services are not exploiting them. People are starting to demand to get something in return, this is how good wealth re-distribution happens, distributing to everyone what is rightfully theirs!
BAT
BAT, also known as, Basic Attention Token, is positioning itself really well in this new wealth distribution that is happening. BAT is the native token of the Brave Browser, a highly secure and privacy-focused browser that rewards people for watching Brave ads.
Basically what happens is this:
Company A gives USD to Brave for ads
Brave uses the USD to buy the scarce asset that is BAT, only 1.5B BAT will ever be created
Brave starts an ad campaign for company A where BAT is distributed to the people that watch ads
People can either choose to give BAT to websites and content creators, or they can also withdraw the BAT if they go through the KYC.
This new kind of attention monetization is going to revolutionize the world! No more reason to use adblocker, companies pay us to watch ads if they want! No more data mining and trading, all the ads that we watch through Brave are chosen by our own computer through Machine Learning, no data leaves the computer, our computer is our own personal and friendly data broker!
And, in the future, the price can go exponentially upwards with what we are developing in crypto! We are talking about a scarce asset where ad and data value is being held. Imagine if Brave had 500M user, the number of companies that would want to advertise to those 500M users would be in the hundreds or thousands, all those companies buying BAT (a scarce asset) to distribute to the users, and some users, like me, would rather put those BATs earning interest in platforms, platforms like Celsius which I hope to soon add BAT to the accepted cryptos. Using these platforms removes tokens from the market, making the supply on the market even more scarce! https://celsius.onelink.me/pYBy?pid=AFFILIATE&c=_aawL&af_dp=celsius%3A%2F%2F
Scarcity, plus users, plus use-cases, plus companies buying, leaves only one way for the price to go! The only way is upwards.
This is why I'm stockpiling BAT, I might not be buying it, but I'm earning it and keeping it. Not sure if I'll ever sell, I might tip some, but selling it, not sure... I'll probably take a loan using it as collateral.
There are 3 ways I'm earning BAT:
The first way I'm earning BAT is through using Brave Browser. https://brave.com/teu680
This is the easiest way to earn BAT. Just install it, have the advantage of having the fastest and most secure browser around, and earn BAT while using it. BAT is earned even if one doesn't enter the website, just click on the "x" straight away and the BAT is still deposited on the wallet. The max ads one can see in one hour is around 5, my country doesn't have that many ads, but I'm still earning some.
I've known people that earn around $10 each month just by using the Brave Browser and clicking on the "x" as soon as the ad pops up... In the second it takes to click the "x", they still can see which company is advertising, so, even if the users don't enter the website, the company still gets some recognition.
Installation of the Brave Browser is very simple and fast: Just go to the website, install it and opt-in to Brave Rewards. https://brave.com/teu680
The second way I'm earning BAT is through being a content creator on Twitter, Reddit, and Youtube.
I've earned a few BATs from Twitter just by discussing things with other crypto enthusiasts. So, I don't have to change anything or do anything! I can just do what I've been doing for 2 years, and sometimes other Brave user sees value in what I wrote and give me BAT.
The third way I'm earning BAT is through being a content creator on publish0x. https://www.publish0x.com/?a=WPe9283aLy
On publish0x, people receive crypto, mainly BAT, by creating content or by voting on what other people write. This way I can do what I've been doing for 20 years, read articles and expand my knowledge using the internet, and get BAT in return!
It's really easy to use publish0x, and they got some really solid crypto content in there, out of all the crypto platforms, I would say it's probably the best platform when it comes to specialized crypto content.
I would advise anyone to go to publish0x and create an accouIf you are giving your attention away for free, you are disrespecting yourself by not seeing value in your time, data and attention! Install Brave and start earning! https://www.publish0x.com/?a=WPe9283aLy
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