A Few Lessons From Facebook On Blockchain Mass Adoption

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A Few Lessons From Facebook On Blockchain Mass Adoption


Chris Hughes became super wealthy thanks to his Facebook stock. Now, this entrepreneur from Silicon Valley wants to restore the middle class, and believes this can be done through his idea. His new book, Fair Shot, outlines a guaranteed income for the poor in the US.

“Most Americans cannot find $400 in the case of an emergency like a car accident or a hospitalisation, yet I was able to make half a billion dollars for three years of work. Something is profoundly wrong with our economy and in our country, and we have to fix it,” Hughes laments. Sounds credible?

Those in the media employs reputation management through the power of social media and this man intends to overturn bad publicity by getting the crowd’s good grace – through a presscon and a book. This event took place on April 2018 but we’re now on the last few months of 2018.

Whatever the long term results of this social media ploy, there are a few lessons learned by those in the Blockchain space after the Facebook scandal and we listed a few of them here.

Lessons Learned

This is a difficult lesson for Facebook but one that can easily pave the way for others to take on the widening gap for centralized social apps. With increasing disquiet and distrust over the use, sale and loss of personal data, the intrusion of unwanted advertising, diminishing rewards for content creators and a changing landscape, the time is now right for blockchain-based social apps to challenge centralized social platforms such as Facebook, Instagram and Twitch.

Content creators generally do not share in the profits from advertising sales, except on YouTube and Twitch, where creators can have a limited share in profits, but only above certain thresholds. Even then, YouTube and Twitch take 25-45% of advertising revenues while YouTube recently changed its rules on profit sharing. Creators must comply or look for somewhere else to share their content.

This has led to over 100,000 content creators registering with Patreon in a bid to connect more with their fans and benefit from their patronage and tips. However, many patrons are unhappy with the financial burden being placed upon them.

With newcomer Howdoo about to launch, we might be about to see an exciting challenge to traditional social apps and also to Patreon.

Howdoo has been quietly executing its goal of delivering a unique social experience that combines the best of social media and blockchain without compromising on the user experience. The second lesson is that for Howdoo or any other blockchain social platform to take advantage of the current climate, it needs to scale fast and provide a unique user experience while appealing to the ever-changing demands of social media users.

Before it can challenge the incumbent centralised platforms comparison, Howdoo first needs to be benchmarked against its main blockchain competitors Mithril and Steemit:

Like Mithril and Steemit, creators and anyone that engages with content on Howdoo will be able to earn udoos (the Howdoo token) for liking and sharing content while there will be a unique gamification layer that rewards users for regular usage and adds additional value to the platform

Furthermore, other unique features missing from both Steemit and Mithril are live streaming, tipping and paywalls. A user can tip or donate with a click of a button, with the content creator receiving 100% against 90% on Patreon. With Howdoo there are no service or processing fees.

For a project to keep abreast of other strong contenders for the same space, it must have its token on crypto exchanges. A lot of projects suffered because of this hindsight. Fortunately, Udoo is listed on several exchanges as well as Blockfolio, with the most volume being on Coinbene. With a current market cap of $6m and an improved platform and user experience, it can easily match and surpass Mithril.

This is a valuable lesson for the other projects to base their strategies on – keep your project going with validation through the crypto market. Since Howdoo offers something even more unique, it is not unrealistic to expect Howdoo to corner a large stake in a market currently being dominated by centralized social platforms.

Community Empowerment

Advertising is a key component of any social media platform with Facebook generating $6.18 to $26.76 per user each quarter. With $50 billion annually spent on digital, in-game goods, it is essential to have thriving, engaging and supportive communities that will attract advertisers.

While some have argued that “social apps on the blockchain cannot compete for contented subscribers and advertisers on incumbent centralized platforms” I have noticed that respected Musicians, Gamers and other high profile content creators across beauty, fitness, and lifestyle are signing up as supporters of Howdoo.

Last month, Howdoo announced that it was accepting username reservations. Over 25,000 users have already signed up for their usernames with more being added every day.

Content creators who act early should be able to register the usernames they desire before the platform’s public launch this December. Quickly following its December release, Howdoo will be launching its paywall, where content creators can start to sell premium content or monthly subscriptions.

“Something is profoundly wrong with our economy and in our country, and we have to fix it,” Hughes writes. True, but we on the blockchain space see the solution differently. As exponent of the blockchain, we are inclined to believe that as projects on the blockchain massively disrupt every sector of society, including the financial world, the fruits of labor will be distributed more evenly among those who labor.


[Disclaimer: This is is a guest post. The opinions expressed within are the author’s own observations on the direction social media is moving in, and the author claims to not own any token from any of the companies listed above.]

IOT/USD, EOS/USD, ADA/USD, XLM/USD, LTC/USD Price Analysis

After days of lower lows and dry fundamentals, Stellar Lumens—XLM/USD, Cardano—ADA/USD and IOTA—IOT/USD pairs are trading within a bullish breakout patterns and likely to print higher as the week close. But still, we shall maintain a bullish outlook on EOS/USD and LTC/USD aware that if the latter find support at $50, odds are prices will rise above $60 igniting buy pressure.

Let’s have a look at these charts:

EOS/USD Price Analysis

EOS/USD Price Analysis

In the midst of relentless sell pressure, EOS/USD upsides have been clipped. So far, prices are down 2.5 percent in the last day but still clinging on bullish in the weekly chart adding 2.5 percent from last week’s close. Like in our last EOS/USD trade plan, we shall retain a neutral outlook with a bullish skew aware that prices are down +80 percent from 2017 highs.

You may find this interesting: Basic Attention Token Nosedives 20% Amidst SEC Crackdown Concerns

As such, EOS is likely to recover as prices consolidate inside a $3 range with clear supports at $4 and resistance at $7. If today close lower then odds are EOS/USD will slide towards $4 and in that case aggressive traders can would load at spot with stops at around $6 and first targets at $4 for a 1:1 risk reward ratio.

LTC/USD Price Analysis

The benefits of moving funds via crypto are there for everyone to see. Hours ago, $62 million worth of crypto was moved for 50 cents but it could be cheaper once Litecoin core 0.17.0 is live.

Then, Litecoin developers say, network fee will be slashed by a factor of then disadvantaging miners but benefiting users.

LTC/USD Price Analysis

While the network usage increases, LTC is down two percent in the last day and cents from $50, our main support line and sell trigger line. All in all, we recommend patience as reiterated before aware that any decline below $50 causing a whole bear bar to print below $50 would be inviting for sellers aiming at $30.

What about Bitcoin Stability: Bitcoin Falls to $6,300 Region as Altcoins Continue to Decline

Concurrently, now that LTC is down and trending around key Fibonacci retracement level from 2017 highs, bulls expect LTC/USD to find support at $50. In case that happen, then we shall recommend a wait and see approach until prices race above $60 or Oct highs. Thereafter, aggressive traders can buy dips with stops at breakout bar lows and first targets at $70.

XLM/USD Price Analysis

XLM/USD Price Analysis

Leading the market is stellar Lumens which is up roughly one percent in the last 24 hours validating our last XLM/USD trade plan. Despite lower lows and consolidation in lower time frames above 25 cents, we were bullish suggesting buys on dips with first targets at 30 cents and later 50 cents.

After yesterday’s resurgence, traders can enter at spot with stops at Nov 6 lows and first targets at 30 cents. The only move dismissing this view reverting us back to neutral is if there is rejection of higher highs damping XLM back as gains are reversed hitting our stops.

If not and bulls rally past 30 cents in a bullish breakout pattern, then both set of traders can load at spot with first targets at 50 cents and stops just below 30 cents.

ADA/USD Price Analysis

ADA/USD Price Analysis

Though the market is struggling against sellers, the simple fact is that ADA/USD is trading within a bullish breakout pattern.

And to reiterate, as long as ADA is above 7.5 cents and inside Nov 4 high low, we recommend buying at spot with stops at 7 cents—our minor support and first targets at 9.5 cents since risk reward ratios allow.

Otherwise, conservative traders can stay on the sideline until a high-volume bull bar print triggering buys above 9.5 cents. On the flip side, losses below 7 cents and later 6 cents would be negative to ADA/USD as prices could sink and register new ATLs.

IOT/USD Price Analysis

IOT/USD Price Analysis

Like Cardano, IOT/USD is trading within a bullish breakout pattern following Nov 4 close above the two month resistance trend line. From candlestick arrangement and yesterday’s resistance of lower lows, it seems as if bulls stand a chance.

Interesting Developments at EthereumPlasma Halted as Ethereum Seeks Alternative Scaling in zk-SNARKs

Therefore, we suggest aggressive type of traders to pick at spot with stops at 45 cents or Oct 11. First target will the buy trigger line at 60 cents and thereafter both set of traders can add their longs as they eye 90 cents and later parity.

All Charts Courtesy of Trading View

Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.

‘Asia’s Amazon’ Starts Using Bithumb’s Payment Service for Cryptocurrency Users

One of South Korea’s largest cryptocurrency exchanges, Bithumb, has begun providing a cryptocurrency payment service to a major online marketplace it refers to as “Asia’s Amazon.” Korean users can use their cryptocurrencies held at the exchange to pay for purchases on Qoo10 using this service.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Qoo10 Partners With Bithumb

'Asia’s Amazon' Starts Using Bithumb's Payment Service for Cryptocurrency UsersSouth Korean cryptocurrency exchange Bithumb announced on Wednesday the launch of its “cryptocurrency payment service” for major online shopping marketplace Qoo10, which it referred to as “Asia’s Amazon.”

The two companies signed a contract in August and have been developing a payment service for Qoo10 that uses Bithumb cash.

A Bithumb representative explained to news.Bitcoin.com that for each customer:

Bithumb cash is the total asset [value] of [their] cryptocurrencies and KRW.

'Asia’s Amazon' Starts Using Bithumb's Payment Service for Cryptocurrency UsersBithumb started offering the “Bithumb cash payment service for Qoo10 from the 5th of this month,” the exchange wrote. This payment option is now listed on the marketplace alongside Payco, Paypal, and E-money.

The representative emphasized that currently this service is only available to Koreans, including those living overseas. Foreigners living in Korea cannot use it, the representative noted, adding that the company is working to make it available to all users.

Qoo10 operates seven localized online marketplaces in five countries, its website details. Bithumb described this marketplace as a Korean e-commerce company that is “the No. 1 shopping mall in Singapore, and has become a leader in Asian e-commerce markets such as Hong Kong, China and Indonesia.”

Crypto Conversion at Market Rates

'Asia’s Amazon' Starts Using Bithumb's Payment Service for Cryptocurrency UsersBithumb revealed in November last year that it was working on creating a “simple” payment system to allow its members to use their cryptocurrencies and KRW to pay for goods and services, Chosun described.

An official of the exchange explained at the time that all cryptocurrencies held in Bithumb accounts can be used. “The process of converting virtual currencies into Bithumb cash is done automatically based on current market prices,” the news outlet detailed.

The Bithumb representative confirmed to news.Bitcoin.com:

[Cryptocurrencies such as] BTC will be converted automatically into KRW at the market rate.

'Asia’s Amazon' Starts Using Bithumb's Payment Service for Cryptocurrency UsersUsers can specify which cryptocurrencies will be sold first to cover a purchase after the Korean won in the account is depleted.

Sedaily reported in April that shop owners can also choose whether to accept payments in Korean won or cryptocurrencies. However, if a shop owner chooses cryptocurrencies, the amounts at the time of withdrawals may be different from the amounts paid by customers due to price fluctuations of cryptocurrencies. “Most franchisees want to reduce the risk of price fluctuations, so they often choose to work with the won,” the publication quoted Bithumb explaining.

Last month, Singapore-based BK Global Consortium acquired a majority stake in Bithumb, as news.Bitcoin.com reported.

What do you think of Bithumb’s partnership with Qoo10? Let us know in the comments section below.


Images courtesy of Shutterstock, Bithumb, and Qoo10.


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Anypay提供BCH发票,支持Cointext钱包短信支付







10月29日在新罕布什尔朴次茅斯市一家叫做La Maison Navarre的面包店里,有一名BCH爱好者用Cointext钱包通过短信支付购买了一个羊角面包。这家店使用的是免费的Anypay零售终端应用,该应用连接Cointext系统,使客户可以使用短信支付。
推荐阅读:英国金融衍生品经纪商CMC Markets宣布上架BCH

使用BCH和短信支付买到一个羊角包

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Anypay.global提供免费的加密货币支付系统。

加密货币爱好者们现在可以在实体店里用Cointext钱包里的BCH通过短信支付购物。Anypay.global支付处理器,一个为零售商免费提供的POS应用,已经在其开票平台上整合了Cointext支付。如果用户购买一个产品时选择使用BCH支付,界面就会跳到Anypay的发票系统,上面会显示BCH地址和二维码,用户可以使用短信完成支付。Cointext钱包是一款轻钱包应用,用户可以在没有网络的情况下通过短信发送BCH。

有人在La Maison Navarre面包店里录了一个视频,展示了通过短信支付买东西有多

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Cointext钱包让用户只需要发送短信就可以使用BCH支付购物。

简单。他编辑短信“BUY”+一串随机数就迅速买到了一个羊角包。看完这个45秒的视频后,news.Bitcoin.com决定测试一下Anypay的POS系统。

Cointext测试Anypay的POS系统测评

只需邮件注册、设置密码就可以开设一个新的Anypay PoS账户,获得免费的服务。创建账户之后,需要“添加地址,”你可以从加密货币里面选择,例如比特币现金、达士币、莱特币、狗狗币、比特币、零币(没有被屏蔽的地址),还有一种币叫做horizon。我使用的是Bitcoin.com钱包里的地址,并绑定一个公开的地址到Anypay PoS系统,Anypay软件使用BCH Cashaddr的地址格式,并用仅支持查看的方式记录往来交易的发票和图表。

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Anypay为商家免费提供的POS系统支持7种加密货币。

添加了有效的BCH地址之后,你就可以创建发票。我测试了在该APP管理页面开一张价值0.25美元的BCH发票。接着生成了一张有地址和二维码发票。

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创建BCH发票之后APP会提供一个Cointext代码

页面弹出了一个绿色的小框,旁边写着,“编辑短信BUY 88BZZ发送”。发送之后,发票很快就会支付完成,像Anypay其他的支付方式一样迅速。

该视频在网上发布后,社交媒体和BCH论坛上的人都表示,他们很高兴听到现在已经可以用短信和BCH购买商品。Anypay系统与mini PoS、Akari Pay、Cheddr等今年推出的比特币现金PoS解决方案类似。但是整合了Cointext的短信支付功能,这是其他比特币POS供应商没有提供的一个特性。

发文时比特币现金(BCH)的价格是:¥ 2942.45

Anypay.global的POS系统以及通过短信使用BCH购买商品的功能,你觉得怎么样? 欢迎在下面留言评论。


图片来源:Shutterstock、Cointext、Anypay和Pixabay。


需要换算你持有的比特币?可点击使用我们的工具

原文链接:https://news.bitcoin.com/anypay-provides-bitcoin-cash-invoices-that-can-be-paid-by-sending-a-text/
作者:Jamie Redman
翻译:Bitcoin.com







今日资讯:Consensys收购行星资源公司,新西兰支持加密货币研发



今日资讯:Consensys公司收购一家挖掘小行星的风险投资公司,计划借此从加密货币行业扩张到其他领域;有一个投资平台获得了政府机构的研发资助;Ledger推出比特币10周年纪念限量版硬件钱包。
推荐阅读:韩国法院判决交易所Coinis上诉农协银行成功

陷入困境的太空公司

astroid-mining-station-300x188Consensys是以太坊联合创始人约瑟夫·卢宾(Joseph Lubin)成立的一家软件公司,该公司已经收购一家陷入困境的初创公司,行星资源公司(Planetary Resources)。这家位于纽约的公司表示,将在华盛顿雷德蒙德,行星资源公司(Planetary Resources)的前厂址开展其太空项目。双方没有透露这次收购的具体金额,但可以肯定的是,Consensys支付的金额并不太大。

2012年行星资源公司成立的时候,公司承诺会在太阳系开创一个私营企业的时代。该 公司表示,计划扩大人类获取价值数万亿美元的金属和矿产的渠道,并得到了许多著名科技人物的支持,比如谷歌的拉里•佩奇(Larry Page)和埃里克•施密特(Eric Schmidt)。但是,今年年初,该公司因未获得继续的额外资金,公司不得不裁员,并无限期推迟首次小行星勘探任务。现在要靠卢宾重振行星资源来证明他能成为加密货币界的伊隆·马斯克(Elon Musk,SpaceX的创办者,及特斯拉汽车和PayPal的联合创办人)。

“为Consensys生态系统注入更强大的太空能力,体现了我们对以太坊的信念,它能通过自动获得的信任和有保障的执行力建立新的社会规则体系。”

Callaghan Innovation支持Vimba

New-Zealand-300x188总部位于奥克兰的加密货币投资平台Mycryptosaver宣布公司将改名为Vimba。同时,新西兰政府的创新部门Callaghan Innovation已经同意为Vimba提供研发资金。这家初创公司于2014年成立,前身是Mybitcoinsaver,据称现在已经拥有5,616客户。

“Callaghan Innovation的投资意义重大,真正体现了对这项资产类别未来的信念。” Vimba的首席执行官山姆·布莱克摩尔(Sam Blackmore)说道,“这种货币将为我们扩展业务提供新的关键特性。我们将会用它来构建安全的多重签名加密货币钱包,我们还会深入研究提供除了比特币和以太坊之外的其他加密货币。”

这周早些时候宣布投资一事后,报道立刻铺天盖地,指责政府用纳税人的钱投资一家比特币公司。但是,Vimba很快就发表了一则声明澄清,Callaghan Innovation只是批准资助其中一个项目40%的预估成本,总计约315,000新西兰元。

比特币十周年纪念

昨天比特币社区庆祝了中本聪发布白皮书10周年纪念。硬件钱包制造商Ledger选择限量推出了一款纪念版的钱包。

“Ledger Nano S白皮书版是为了向这个具有标志性的日子致敬,白色外壳和特殊的雕刻,”该公司说道,“和我们的标准设备一样,拥有相同的功能,为此特别定制的盒子,里面附有一份原版的白皮书。”

加密货币是伊朗政权的一把双刃剑

Iran-Defense-forces-300x188据来自伊朗的报道,该国被动防御组织(Passive Defense Organization)的负责人、陆军准将拉姆瑞扎•贾拉利(Gholamreza Jalali)在最近的一次电视采访中称,加密货币是伊朗政权的一把双刃剑。该政府想要利用这项技术绕开国际金融制裁,又担心它可能放宽政府对本国公民经济活动的控制。

贾拉里说:“加密货币在每个国家的金融和货币体系中都是无法追踪的,但是在跨国上它为我们提供了巨大的机会。我们可以使用加密货币进行无法追踪的银行业务,以绕开某些制裁。”

他还进一步呼吁创建伊朗的“国家加密货币”。

“我们的主要问题在于美元,因为美国使用他的国际货币控制着所有国家的SWIFT操作。“该将军说道,“所以,我们应该减少对美元的依赖型,用其他的货币取代它。”

发文时比特币现金(BCH)的价格是:¥ 2942.45

你怎么看今天的新闻?欢迎在下面留言评论。


图片来源:Shutterstock。


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原文链接:https://news.bitcoin.com/the-daily-consensys-acquires-planetary-resources-new-zealand-backs-crypto/
作者:Avi Mizrahi
翻译:Bitcoin.com



Crypto Marketplace Paxful Demand for Cryptocurrency Reveals Growing on the African Continent

Cryptocurrency trading has widely been spread across the world, with significant concentrations collecting in Asia during recent years. On October 31, 2018, the peer-to-peer Bitcoin marketplace Paxful claims that the number of transactions from African consumers has soared significantly in recent times, mostly fueled by African millennials’ interest in the new space.

Millennials Account for Rise in Demand of Bitcoin

The latest findings from Paxful reveal that Africans now make up the highest number of fresh subscribers on their marketplace, indicating the rapid rise in investment interest in cryptocurrencies is coming from the continent.

Paxful noticed that the transaction volume coming from its South African platform had grown by 25 percent and transactions from Nigeria had surged by 60 percent over the past 12 months. In other parts of the continent, a rise of almost close to 100 percent was also evident. Altogether, Paxful has recorded a 225 percent increase in cryptocurrency traders in the past 12 months.

The Bitcoin marketplace states that while all the global focus has been on the volatility of the pioneer cryptocurrency, in contrast, African people have shown more interest in Bitcoin over the past 12 months.

Paxful, the global cryptocurrency marketplace that connects buyers and sellers, said that the highest number of transactions from Africa had reached a high of $64 million per month. The rise in demand for cryptocurrency is mostly seen in the age group of 18 to 30 and continues to increase rapidly. According to Paxful, the average Bitcoin purchase is approximately $60 while the average Paxful wallet transaction of the cryptocurrency is close to $30.

According to Paxful, African people are using cryptocurrency to send money domestically for both personal and professional purposes. Their services are also used by entrepreneurial companies to transfer services and money within Africa and cross-continent.

Virtual currencies are more effective and profitable when compared to their alternative local currencies, that are even more volatile than bitcoin. According to Paxful, only a marginal percentage of Africans use cryptocurrency as a speculative investment.

Paxful is supporting blockchain entrepreneurs and recently launched a campaign known as #BuiltWithBitcoin aimed at encouraging the cryptoverse to play a part in humanitarian projects.

Paxful is also focused on building 100 schools across the continent. It is involved in providing water facilities and creating community gardens for better agriculture.

Will Africa be the new frontier for cryptocurrency? Let us know your views in the comments section.

Apps for Kik’s Crypto Are Beginning to Appear on Apple and Google Stores

The number of mobile apps built around kin – the cryptocurrency created and launched by mobile messaging app Kik – is growing.

As of this writing, ten are already out, and more will become available as the Google Play and iOS stores move to approve them. All told, more than thirty apps are expected to debut in the coming weeks.

A quick summary: kin was created by the Canadian messaging app company Kik. To help bootstrap the project, Kik raised $98 million in one of 2017’s biggest initial coin offerings (ICOs). And this summer, it announced it would support teams that are building apps that are designed to enable users to use – and earn – its token.

“We’re trying to build an ecosystem where you can earn kin in one application and spend it in another,” Ayelet Laub, a product manager working on the Kin Ecosystem told CoinDesk.

Lots of the apps coming out fall in the classic categories with which mobile users will be most familiar. And while this offers the advantage of familiarity, it carries the disadvantage of having to compete in a market crowded by big incumbents.

Fortunately, these apps don’t have to compete solely on cool factor and user experience like most do, as the new kin-enabled apps pay users directly for their participation. Put another way, think of kin as the means by which users are incentivized to fire up the apps and participate.

The following apps are currently live on Google Play: Reveald (dating), Kinguist (language learning), Nearby (networking), GoChallenge.me (social goals), AddMe (business networking), Find (travel networking), Vent (mental health) and Kinny (social tipping). Two apps are available so far on iOS so far: Blastchat (instant messaging) and Pause For (productivity).

All of these apps have straightforward ways to earn and spend kin, as required by the developer program.

Stepping back, more than 200 teams applied to join the program. Forty were ultimately chosen, and in the end, 32 made it far enough in the developer program to submit their apps to either the Google Play or iOS stores. Supporting them were development grants that included kin allocations to be used to attract would-be users.

Ted Livingston, Kik’s founder, has repeatedly said he wants kin to become the most used cryptocurrency on earth where it’s easy for internet users to both earn it and spend it. The theory here is that if very small amounts of money can be traded easily and freely online, many more people will spend much more money overall.

Kin was originally created for ethereum, but it has since ported most of its functionality over to a fork of the Stellar blockchain, because Kik wanted to be able to process loads of transactions for free. That way, kin could run in lots and lots of mobile apps at once.

A key component to come

All of the apps can be said to aim at a common goal: to see if cryptocurrencies can improve traditional mobile uses cases, whether it’s a dating or task-tracking apps.

For example, BlastChat – the only app this reporter has thus far tested on the iOS platform (it’s also available for Android) – is a social network that’s less about accruing followers and more about making user-friendly broadcasts. Users can give one another kin for good posts, as well as earn kin for posting to the main channels that all users can see.

To promote participation, BlastChat hands users a little over 100 kin to start, setting them up to earn more. But at this stage, there aren’t enough people using it yet to quickly give even 100 kin away at 1 kin per tip.

But there’s a big update waiting to be made for all of these apps: it’s currently not possible to deposit or withdraw kin.

“The app needs to reveal the user’s public wallet address. We need to figure out how to do it in the easiest way and most user-friendly way,” Laub said.

Kin’s developers are working on that. Once they have a solution they believe works, they’ll then approach the mobile app teams and recommend its adoption.

What’s more, the apps being built around kin have taken what could be called an atypical path compared to other decentralized apps seen on the market today, wherein most ask users to connect with their own wallets. So far, kin apps seem to be turning that approach on its head, with each app generating a fresh wallet for each user.

Laub said that Kin Ecosystem has tried not to be prescriptive – but it does have opinions on some points. For example, the KDP team encouraged apps to avoid in-app purchases in favor of person-to-person exchanges, but many of the teams participating want them.

This may explain why only five of the apps are leading with iOS launches. Apple has not been supportive of buying crypto.

What’s more, startups need a revenue stream in order to thrive. Kin itself was built to provide that directly with daily payouts from the Kin Rewards Engine (KRE). Each day, the KRE would pay every kin-powered app based on its proportion of the day’s economic activity. 

That way, developers didn’t need to directly earn crypto from users – but the KRE is not live yet. 

So, the recent grants of kin to teams came in lieu of access to the KRE, and it’s still not clear when the Kin Rewards Engine will go live.

“Probably in the next quarter or next months we’ll have a more concrete update as to when exactly it will be launched,” Laub explained.

Multiple mobile devices photo via Shuttertock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Early Bitcoin Investors Remain Optimistic For the Future Despite Market Turmoil

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Early Bitcoin Investors Remain Optimistic For the Future Despite Market Turmoil

early-bitcoin-investors-remain-optimistic-for-the-future-despite-market-turmoil

Bitcoin’s 10th anniversary was met with considerable fanfare inside of the cryptocurrency community as people celebrated and reflected on how much the financial landscape has been changed by it.

Very few people a decade ago could have guessed what bitcoin would one day turn into. The first transactions were between people who were just curious about testing out the technology.

However, in the early years after Satoshi Nakamoto submitted “Bitcoin: A Peer-to-Peer Electronic Cash System” to a mailing list, there were some people who saw a vision for the cryptocurrency and decided to invest early.

Optimism Remains Despite Tough Markets

Reuters recently picked up on the story of one early bitcoin buyer, Marshall Hayner, who gifted his grandfather a single coin when it was hovering around $30.

On the paper wallet, Hayner wrote instructions to “do not open until $100,000.”

Even though bitcoin’s value is a far cry from the $100,000 mark, hovering in the mid-$6000s right now, Hayner still believes it is “the next digital gold.” He noted how he started mining the cryptocurrency back in 2009.

Another early buyer, Daniel Peled, has been investing since late 2013 and remains optimistic a new record price peak will occur in a few years.

Some Have Become Dissapointed With Bitcoin

Despite many tales of early investors who are sitting on big piles of money, others who bought in years ago are concerned about bitcoin’s many perceived flaws that still remain today.

Vaughn Blake started to buy bitcoin about five years ago when it was roughly $120. He sold all of his cryptocurrency back in January and lamented about the hacks and phishing attemps he has wandered through.

Others have expressed concerns bitcoin is still not an “efficient means of processing payments.” Funfair Technologies CEO Jez San sold most of his bitcoin before December 2017 after buying in 2013.

According to San, bitcoin is “so user unfriendly that the man in the street just can’t use it.” After his bitcoin selloff, San decided to invest in Ethereum instead.

China Updates Crypto Ranking, Downgrades BTC Further

China’s Center for Information Industry Development has updated its ranking of 33 crypto projects, evaluated in three separate categories as well as overall. BTC has been downgraded further since the center’s previous update while EOS and Ethereum still top the overall ranking.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

New Ranking

China Updates Crypto Ranking, Downgrades BTC FurtherThe China Center for Information Industry Development (CCID) announced a new update of its crypto project ranking on Monday. This is the center’s sixth update. The number of crypto protects evaluated remains 33, unchanged from the previous ranking.

EOS still tops the list overall, followed by Ethereum and then Bitshares. Falling from 10th place in August to 16th place in September, BTC now occupies the 19th spot in this latest update. BCH has gained a few positions, up from 31st place in September to 28th place. Meanwhile, NEM remains at the bottom of the list.

China Updates Crypto Ranking, Downgrades BTC Further

The ranking was organized and implemented by the CCID and jointly carried out by a number of organizations including the CCID Think Tank, under the China Electronics and Information Industry Development Institute, and the China Software Testing Center. “The purpose is to scientifically assess the development level of global public chain technology and accurately grasp the trend,” the center clarified. The first ranking was published in May.

EOS Remains China’s Favorite

Thirty-three crypto projects were evaluated in three broad categories as well as overall. The three categories are basic technology, applicability, and creativity.

China Updates Crypto Ranking, Downgrades BTC FurtherIn the overall category, EOS tops the list, followed by Ethereum. The two projects have been in the same spots since the center’s second update in June. The CCID noted that when the index was launched in May, the EOS main network was not online yet so the project was excluded from the ranking. Since then, “EOS and Ethereum have firmly occupied the top two [positions] on the list,” the center wrote, asserting:

At present, EOS and Ethereum are undoubtedly the preferred platforms for Dapp development worldwide, and EOS is showing a stronger momentum. The data shows that EOS Dapp is highly active and user increments are large.

China Updates Crypto Ranking, Downgrades BTC FurtherIn the basic technology category, the top projects have not changed from the previous update, the center explained. “The top five of the basic technology index for this period are EOS, Bitshares, Steem, Ethereum and Gxchain. The top five are consistent with the previous list.”

In terms of applicability, this latest ranking “has improved the evaluation methods of development tools and comprehensively evaluated APIs, SDKs, RPCs, smart contracts and other development tools,” the CCID elaborated. The top five projects in this category are Ethereum, Neo, Nebula, Quantum and Dash.

In terms of creativity, the top five are BTC, Ethereum, EOS, Nuls and Cardano. “Compared with the previous index, the public chains with the largest increases in the innovation index are Ripple, Nuls, Iota, Nebula and Bitcoin Cash,” the CCID detailed.

What do you think of China’s latest crypto project ranking? Let us know in the comments section below.


Images courtesy of Shutterstock and CCID.


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Bitcoin Cash Price Analysis: BCH/USD Rebound Faces Major Hurdle

Key Points

  • Bitcoin cash price is slowly recovering towards the key $430 resistance against the US Dollar.
  • This week’s followed important bearish trend line is intact with resistance at $430 on the hourly chart of the BCH/USD pair (data feed from Kraken).
  • The pair must break the trend line and $430 to gain momentum in the near term.

Bitcoin cash price formed a decent support near $420 and recovered against the US Dollar. BCH/USD is now facing a solid resistance near the $430 level.

Bitcoin Cash Price Analysis

Yesterday, we saw a solid upward move in bitcoin cash price above the $420 level against the US Dollar. The BCH/USD pair traded as high as $429 and later started a downside correction. It corrected lower and traded below the $425 level. It traded close to the 50% Fib retracement level of the last wave from the $408 low to $429 high. However, downsides were limited as buyers appeared near the $420 level and the 100 hourly simple moving average.

Later, the price formed a decent support base near the $420 level and the 100 hourly simple moving average. It started a fresh upward move and traded above the $425 level. There was also a break above the 50% Fib retracement level of the recent decline from the $429 high to $419 low. The current price action is positive, but BCH/USD is facing a solid hurdle near $430. Moreover, this week’s followed important bearish trend line is intact with resistance at $430 on the hourly chart of the BCH/USD pair.

Bitcoin Cash Price Analysis BCH Chart

Looking at the chart, BCH price is showing positive signs above the $420 level. However, buyers need to clear the $430 hurdle for more gains in the near term towards $440 or $450.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD is now back in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is well above the 55 level.

Major Support Level – $420

Major Resistance Level – $430