Tag: Cryptocurrency

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An Economist Recognizes Massive Crypto Opportunity

There is no doubt that there are many economists that have dismissed the cryptocurrency markets for years. There are those that believed that Bitcoin was going to be nothing more than a fad, and that it would never reach the prices that it has reached, even if it currently is continuing to consolidate under $4,000.

Of course, there is something to be said for perspectives and biases. Our own experiences might account for our own attitudes, which is something that an economist has recently highlighted. Specifically, Anya Nova is a crypto economist with Perth-based Power Ledger, and points out that her own childhood is what helps her truly believe in the potential of the cryptocurrency markets.

Childhood Woes

Nova grew up in 1990s Russia, which experienced hyperinflation, so one might see why she gravitated towards cryptocurrency. She recalls the extreme volatility that occurred during this time period, and the direct effect that it had on her family. She stated: “I remember my mom sent me to buy a loaf of bread from a local store. The day before, one loaf was the equivalent of 60 cents, today it was $3.40. This was not an immaterial change for my single mother and me.”

While others might be hesitant about Bitcoin because it is a digital asset and isn’t used for everyday purchases – Nova views things a little differently. She points out that just because you can physically hold money, it doesn’t guarantee anything, and references her childhood as proof of this. She elaborated: “If you’ve ever held a large bundle of worthless cash in your hand, you’d know the feeling.”

Massive Opportunity

Nova isn’t shy about the potential of blockchain and cryptocurrency, and she believes that there is simply so many sectors that can benefit from tokenization. She specifically mentions these sectors: “$217 trillion dollars in real estate, $55 trillion dollars in equities, $6 trillion dollars in gold.”

She also stressed that she was very optimistic about security tokens, as well. Nova works for Power Ledger, a blockchain energy project, which wants to power communities with reliable and low-cost electricity.

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Iran Plans State-Backed Cryptocurrency

Often times, when cryptocurrency enthusiasts and proponents think about cryptocurrency and decentralization, we think about the fact that we can provide a way for those who do not have access to traditional financial institutions to have a way to exchange money. We also think about free speech, and the fact that central authorities cannot manipulate currencies.

However, there’s a drawback. There’s the idea that a country that is isolated financially for a reason can still develop a cryptocurrency to galvanize themselves economically. That appears to be becoming a reality, as there are reports that Iran will be developing a state-backed cryptocurrency to circumvent global sanctions.

Announcement Soon

The announcement is expected to be made very soon. In fact, on January 29, at the Electronic Banking and Payments System conference, in Tehran, Iran, the announcement is expected to be made. The year’s theme even seems to hint at the announcement, as it is “blockchain revolution”.

The reason for the announcement is the fact that U.S. president Donald Trump had announced the reinstatement of sanctions against the country last year. They aim to target various sectors of Iran’s economy, including its oil sales, shipping industry, banking industry, and more.

Rollout/Context

One of the more urgent reasons for the cryptocurrency is the fact that the United States has even turned the Society of Worldwide Interbank Financial Telecommunication (SWIFT) against the country. Many were surprised at the move, and others pointed to the influence of the United States as the main reason, considering the organization is supposed to be an independent organization.

The new announcement certainly proves that the sanctions are affecting Iran’s economy significantly, considering its own government issues an official ban against cryptocurrencies in April of last year. Many attributed this to the fact that the rial, Iran’s currency, had hit an all-time-low around the same time.

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Cryptocurrency Discussed On Joe Rogan Podcast

The Joe Rogan Experience is one of the most popular podcasts in the world, and Joe Rogan is widely considered to be a pioneer of the space. Rogan used to host the popular show Fear Factor, but is also widely known as a UFC commentator and comedian, and he has a wide variety of individuals on his guests, from comedians, to conspiracy theorists such as Alex Jones, to some of the most well-known CEOs in the world, such as Elon Musk.

The 51 year-old now has an audience that rivals most TV networks, and has garnered a loyal fanbase of millions. He most recently had Killer Mike on his platform, and they discussed cryptocurrency.

About Killer Mike

For those who are unaware, Killer Mike has been an active rapper for about two decades now, featuring on the iconic duo Outkast’s album Stankonia in 2002. He recently has reached a new level of fame as one-half of Run The Jewels, one of the most critically-acclaimed hip-hop groups in recent years.

 

He is also quite the activist, and is well-known for supporting Bernie Sanders as a presidential candidate, as seen above. He came on Rogan’s podcast to promote a new show titled Trigger Warning, a Netflix documentary series.

About The Conversation

Rogan initiated the conversation, asking Killer Mike if he was paying attention to cryptocurrency. The rapper admitted that he wasn’t too familiar with the space, and had just gotten into stocks.

Rogan then spoke about how he fascinated about the idea of a “decentralized economy”. He elaborated that it was interesting to think about currency that was outside of the control of banks, and how a currency could exist that wasn’t affected by local exchange rates. He concluded that if true decentralization was achieved, “it would be a really different world.”

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Swiss Watchmaking Company Launching $100K Crypto Watch

21865711 - panoramic view of the swiss alps

There are certain countries and regions that simply dominate their industry to the point where they are associated with a certain standard. For example, Belgians are known for some of the best chocolate in the world, Germany is known for its incredible engineering with regards to the auto industry, and Switzerland is known for its excellence with regards to watchmaking.

It appears as though one of the most respected Swiss watchmaking companies, A. Favre & Fils, are looking to appeal to cryptocurrency investors, traders, and investors with their newest product, that will come with a built-in cryptocurrency wallet.

About The Product

For those who are unaware, one of the distinguishing characteristics of A.Favre & Fils is that it can actually trace its genealogy to show how the watchmaking tradition was passed on from generation to generation. The CEO of the company specifically appealed to the cryptocurrency community in a statement, saying: “We have developed this first timepiece with the idea of offering something useful for the crypto-community, not simply something to spend their money on.”

The product certainly will be marketed to the affluent, as the watch will cost around $100,000 at the very least. Specifically, a spokeswoman gave the range of $102,000 to $153,000, as a potential price range. This, of course, would depend on the model and features.

Watch Features

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For those who are wondering about the exact features of the watch, the company is noticeably vague. However, it does state that the watch will “guarantee ultimate in-data security and privacy protection”, although how it will do so is unclear.

For those hoping to purchase the product immediately, you might be disappointed. The company announced that the first prototype of the new watch won’t be released until the second quarter of 2019.

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Binance CEO Named Top Crypto Influencer

There are many in the cryptocurrency community that often criticize year-end lists, but Coindesk recently named the Binance CEO, Changpeng Zhao, as the #1 cryptocurrency influencer in the world. While there will always be those who disagree, one could definitely argue that the position is well-deserved.

Zhao is the CEO of the world’s largest cryptocurrency exchange by daily volume, and he has also aggressively expanded in 2018, a year where many cryptocurrency and blockchain startups were forced to shutter. Coindesk also took the opportunity to sit down with Zhao and discuss the markets and his thoughts in general.

Persistent And Innovative

One of the points that the article makes is that Zhao was not always considered a top cryptocurrency influencer by any means. In fact, he was associated with OkCoin, a China-based cryptocurrency exchange, and actually spent his time afterwards in a kind of exile before founding Binance.

One interesting quote came from Jehan Chu of Kenetic Capital, which actually passed on the massive opportunity to invest in Binance early. She admitted that this was the wrong decision, stating: “What’s worked really well is his ability to adapt to the changing market and come up with the type of innovations that the market didn’t even know that they want it. They were the first to come up with an exchange token. I think that’s what’s most impressive about CZ: his vision to just try different things, iterate and then execute.”

Current Thoughts

Much of the interview was discussing Zhao’s thoughts outside of the cryptocurrency markets. For example, he pointed out that he believed simultaneously that laws were necessary but that he also believed in freedom. For example, he stated: “I do think we need rules for society to function well. But at the same time, I’m also very freedom driven. I believe we can increase the level of freedom.”

Zhao’s appeal is now globally known, and he is amicably referred to by the entire cryptocurrency global community now as “CZ”. Many have stated that his appeal is beyond the traditional financial sector, but also stems to those that are still skeptical about cryptocurrencies in general. He also seems to be full of surprises, even getting a tattoo recently to represent his dedication to Binance.

Ultimately, the interview seemed to hint that “CZ” is just getting started. He says: “I hope someday I can be as influential as Elon Musk.”

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Bitcoin (BTC) Trader And Friend Booked For Murder

A Bitcoin trader and his friend have reportedly murdered a young woman in the Philippines, according to various news reports. The trader in question is 21 year-old Bitcoin dealer Troy Woody Jr. and his friend, 24-year old Mir Islam. Both are currently being held in the country on a murder charge.

The crime occurred in the Philippines, and all three individuals involved apparently flew into the country for a short holiday that quickly turned into a longer stay. There is now apparently video evidence related to the crime, as well.

Crime Details

The murder victim is one Tomi Michelle Masters, the girlfriend of Troy Woody Jr. Her body was recovered from a Philippines River (The Pasig River). The two suspects reportedly strangled and dumped Masters’ naked body into the river, but apparently, each suspect is blaming the other individual for the actual murder. Masters worked at a medical marijuana facility in California.

Masters was apparently supposed to fly home with Woody Jr.  on December 17, but never made her flight, according to her father, Shawn Masters. He was then notified by the U.S. Embassy in Manila that his daughter had been murdered.

Additional Context

The authorities have stated that both individuals have admitted that they were involved in the disposal of the body, although they are still investigating who actually murdered Masters. For context, Mir Islam is not only Troy Woody Jr.’s friend, but apparently his business partner, as well. Supposedly, a massive argument occurred when Masters stated that she wanted to travel home to Indiana.

Superintendent Igmedio Bernaldez offered this statement regarding the case: “We have yet to establish the motive. The three were here on vacation. If you ask the boyfriend, he will point to his friend as the killer. But if you ask the other suspect, he will say it was his friend who killed her. They are being questioned and the home they were staying at is being searched for evidence.”

 

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Greek Property Listed For Crypto

There is property on an island that is on sale currently. While this alone would not be considered groundbreaking news, the fact that the island will be sold for cryptocurrency obviously was praised by the cryptocurrency community.

The property consists of over 2 acres on the island of Lemnos in Greece, and can be bought with cryptocurrency. The cryptocurrencies that can purchase the acres are as follows: Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Zcash (ZEC), or Euro.

About The Property

The property is located outside of Moudros, Greece, which is the second largest town on Lemnos, the eighth-largest island in Greece. The property boasts “panoramic views of the Aegean Sea”, as well.

History fans might be interested to know that Lemnos was the island of Hephaestus, the god of fire and volcanoes, and is known for volcanic rocks, beaches, and gulfs. The surrounding region also boasts tourist attractions such as The Medieval Castle Of Myrina and the cave of Philoctetes.

For those that are unaware, Philoctetes was considered a hero of the Trojan War, and known for his archery skills. He was the subject of four different plays of ancient Greece, although the only one that survived was a play by the Sophocles, who is one of the most well-known Greek tragedians of all time.

More Information

For those who are interested, the property is available for sale for a fiat equivalent of $180,000. The listing also boasts that there are “water and electricity sources nearby”, so someone interested in building a property would have access to these sources, presumably.

The property is also close to Poliochni, believed to be one of the oldest civilized towns in Europe. It is a community that has been around for over 4,000 years. The listing is proof that there are more individuals interested in listing their property for cryptocurrency. This particular listing is available on the website Bitcoin Real Estate.

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Jordan Peterson Now Accepting Bitcoin (BTC)

On the Internet, there has been a meteoric rise in the followers of certain figures, and these figures have been described as the “Intellectual Dark Web”. The group’s core consists of several controversial individuals who have discussions that often criticize the left and political correctness. For example, Peterson, a Canadian clinical psychologist and one of the most well-known and popular intellectuals of modern times, rose to fame after Canadian laws passed regarding gender identity.

Intellectual Dark Web

Peterson has appealed to young men and appears to be a bit of a motivator, selling out venues as he speaks about how men need to “clean your room”, a metaphor about taking stock, taking responsibility, and living up to your true potential.

There are many that suggest that there is a sinister tone to the Intellectual Dark Web, which also includes other figures such as Sam Harris, an American author and philosopher who himself has a very popular podcast.

https://www.youtube.com/watch?v=Y1lEPQYQk8s&t=5s

One common criticism is the fact that many alt-right figures with racist views often appear on these platforms. For example, Harris defended the fact that he interviewed Charles Murray, who attempts to argue that some races are inherently “smarter” than others. Ezra Klein of Vox has pointed this out, among many other media outlets who appear to be disturbed by the racial undertones of the movement (it’s also important to note that all core members of the IDW are white).

From Patreon To Crypto

Of course, there are many people who would argue that WHATEVER their views – free speech is something that is sacred. However, Patreon has been de-platforming various alt-right figures that are loosely associated with the IDW, which has led to a response by the Intellectual Dark Web in turn.

Specifically, Milo Yiannopoulos was banned from Patreon for “association with or supporting hate groups”. The platform, which allows users to donate to content creators around the world, addressed the issue in a tweet:

After Sargon of Akkad was also banned from Patreon, Dave Rubin – who also has his own popular Youtube channel – and Jordan Peterson announced their plans to launch an alternative to Patreon, which has not yet launched.

Peterson has addressed this in several tweets:

Peterson has been vocal about the fact that he has lost some patrons on Patreon, and has turned to cryptocurrency as a means to raise funds from supporters. Peterson has made it clear that he is unhappy with the platform, as well.

In another tweet, he states: “If you would like to support my work, but have become unhappy with Patreon, consider supporting me directly here.” At his linked donation page, you can see that a Bitcoin address and Bitcoin QR code is clearly available.

 

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Korean Darkweb Drug Organization Of Nine Busted

There are many individuals who still view cryptocurrency as “criminal”, in the sense that it can be used for criminal purposes. One of the common misconceptions about cryptocurrency is that the majority of investors and traders are still using it as a means to purchase drugs. This misconception largely stems from the fact that cryptocurrency was first associated with the Silk Road, a darkweb drug marketplace that was shut down in 2013.

Of course, this doesn’t mean that there still aren’t drug dealers that are active on the darkweb, who choose to use cryptocurrency as a means to further their enterprise. Specifically, Korean authorities arrested nine drug dealers in their 20s and 30s, including the owner of the website, who has been identified through his surname, “Shin”.

Historic Bust

This actually marks the first time that the operator of a drug trafficking website has been apprehended in the country, so this is historic for South Korea. The country is notoriously hard on drugs, recently announcing that it would even arrest citizens of the country who choose to smoke marijuana in Canada, where the drug is legal.

The website reportedly had over 600 members, and 50 drug sales took place, according to authorities. The drugs involved included cannabis, hashish, LSD, and MDMA. The authorities even made a point that the owner/programmer of the website smoked marijuana, as well.

More Information

The organization utilized a cryptocurrency that isn’t that well-known at all, by the name of “Dark Coin”, that isn’t even ranked on Coinmarketcap. Encoded messages were utilized in an attempt to throw off authorities, as well.

Authorities examined information on mobile phones and computers, and also seized and “seeked to preserve” 100 million won (around $88,000) associated with the crimes.

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Remittance On The Rise Thanks To Cryptocurrency

One of the reasons why cryptocurrency enthusiasts are optimistic is the fact that cryptocurrency allows money to be sent quickly and more efficiently than fiat currency. For those who follow cryptocurrency news, this isn’t new. However, a new report shows how that potential is finally being utilized.

While traditional financial institutions increase revenue thanks to their fees, cryptocurrency allows individuals and business to move massive amounts of money for an extremely low transaction fee in comparison. For example, over $60 million of Litecoin was recently moved for fifty cents, which was news that was celebrated by Litecoin fans:

New Report

The report was conducted by Clovr, and illustrates how more individuals are using cryptocurrency as a way to send remittance payments. This means that more foreign workers are choosing, because of its efficiency and speed, to use cryptocurrency to send money back home to their loved ones.

The report elaborated how this most often meant that the money was sent to a family member. In fact, over 3 of the 4 individuals surveyed reported sending crypto to a family member. However, they might also be sent to a friend or acquaintance. These payments might involve making sure that loved ones have enough to afford food, or can maintain certain household items, or housing payments, as well.

Remittance

The truth is that remittance involves hundreds of billions of dollars transferring hands, which is why many believe that cryptocurrency will be the future of the sector. That is why Ripple has gained so much traction, as many believe that it will be the cryptocurrency that can truly partner up with financial institutions to offer real-time payments. Stellar has also partnered up with IBM to offer “Blockchain World Wire” payments, as well.

The fact that Facebook is reportedly developing a stablecoin cryptocurrency for Whatsapp in order to enter the global payments sector also shows that various companies are all interested in the sector’s growth. Ultimately, the study confirmed that remittance is on the rise largely thanks to cryptocurrency.

One statement from the study that exemplifies how much potential there is in the sector, reads as follows: “People sending money home after they’ve migrated from other countries to the United States is a practice that will likely continue far into the future… As individuals look to make sure that as much of every dollar they send can make it back – as close to a one-to-one match as possible – digital payment options, like those presented by cryptocurrencies, can pique the interest of customers.”