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The challenge for a crypto company replacing a bank? "We have got to start thinking in Bitcoin", Antoni Trenchev tells Charlie Shrem on the latest episode of the Untold Stories podcast. Listen to them talk Parliament, crypto banking, antifragility & more!
Weekly Update: ParJar Swap private beta, Fantom Opera Network Special-fee Contract, SelfKey + ThreeFold, Open Staking live on Harmony…– 15 May - 21 May'20
Hey Parachuters! Seems like ages since I last posted a weekly update, right? Unfortunately, got super busy with IRL work and couldn’t keep up. But fret not! I finally scraped some time out today to get upto speed with all the news from the Parachute universe in May and June and organised them into a series of weekly updates like the ones I used to write earlier. But instead of posting them one by one everyday, thought it might be best to release them all at one go. So here's Part I of VI - All that happened at Parachute + partners from 15 May - 21 May'20: The ParJar swap feature beta testing started this week with a call to testers far and wide. Click here for the latest update and stats on ParJar straight from Cap's mouth - "...it took almost two years of betas and growth to reach 1 million tips (March 7th) nd it’s taken 2 months to to add another 400k..". Amazing! The #par4par raffle continues with a 500k $PAR pool. Peace Love hosted a general knowledge trivia in TTR this week for 10k $PAR in prizes. Gamerboy’s random trivia and Victor’s “Big Trivia” in Tiproom were quite fun as well. Naj (who’s also this week’s Parena winner) hosted a six set quiz in TTR. Charlotte’s been hosting quizzes in a new format for quite some time now. This week too she held one in Tiproom. Jason started a #culturalweekend prompt with an invitation to Parachuters to share "about a cultural dance or ceremony" from their area. "Explain in detail about the dance and why it is important" for some cool $PAR. Among many of the cool stories shared by Parachuters included Nico’s Occitan music from Italy and Soleira’s Dancing Devils of Tinaquillo. Congratulations to Clinton’s FLI charity for partnering with Lumenthropy which is Stellar's philanthropic arm. Remember, all profits from the Parachute Shop go to FLI. Another crypto league with a 150k $PAR prize pot started this week. Gian’s Two-For-Tuesday was a free for all. To revisit all the awesome music posted for 2FT, check out the playlist made by Sebastian. Naj came back from near certain defeat in the finale to win this week’s Parena aXpire CEO Matthew Markham penned an article on remote work and billing software for legal firms. An updated e-flyer for Bilr was released as well. To track the latest $AXPR burn, click here. 2gether added customer support capabilities to their Twitter, Facebook and Discord. Plus, an incident tracker status page was added this week. The XIO dApp which is still in private beta has already seen 500k+ $XIO tokens locked into it. Awesome! To get a feel of how the dApp works, check out Dash’s latest video demo where he also shared some updates on tokenomics. Uptrennd founder Jeff Kirdeikis interviewed Dash over an hour long session to talk all things XIO. $XIO got listed on Idex. Click here to watch an update video on the latest developments. For XIO discussions this week, Citizens brainstormed over the base liquidity pair on Uniswap V2. DeFi Nation’s Clayton Roche wrote a detailed commentary on what XIO is doing right. Birdchain’s mid-May update came out this week. Voyager hosted a business update conference call this week. CEO Steve Ehrlich talked about the platform and crypto in general with Charlie Shrem on the Untold Stories podcast this week. Voyager’s Q3 2020 results were released. Still figuring out how to fund your Voyager wallet? Watch this video to find out. An upgrade to Fantom’s Opera Network was pushed which allows staking different amounts over time. For the latest project update, click here. A community AMA also happened this week where the team talked about a new staking proposal called Fluid Staking. Jeff from Uptrennd sat down to interview IOST co-founder Terry Wang this week. Uptrennd broke into the top 20k Alexa global rankings. Woohoo! GET Protocol’s GUTS Tickets app is now available in Italian as well. DoYourTip’s $DYT is now available on Uniswap V2. What a welcome sight for support engineers. Source: https://2gether.statuspage.io/history Switch’s $ESH token was listed on Stex, ProBit, Crex 24, Hotbit, Bilaxy and Bitcoin.com this week. Bitcoin.com also announced support for the $GHOST airdrop along with a deposit and trade competition. Continuing on its acquisition spree from last week, Switch acquired gaming platform Wavesbet and voting dApp ClearPoll. Whitepaper for the GHOST project by John McAfee was released. They will be airdropping their tokens 1:1 to $ESH HODLers on the 25th. The release of $GHOST has been contentious to say the least. Reflecting on some of the plagiarism allegations levelled against the project, the crew shared their side of the story. The team also sat down for an AMA with Coiner Vietnam. District0x’s latest weekly update talked about the upcoming DappDigest and new developments in Meme Factory among other news. The Q4 2019 quarterly report was released as well. Read all about Hydro’s Financial Offers framework here. If you are a graphic designer, don’t forget to check out this gig at Sentivate. US-residents only. OST’s Simona Pop will be attending a panel discussion by Outlier Ventures next week to talk about dev onboarding. P2P internet ecosystem ThreeFold announced a multi-faceted partnership with SelfKey for KYC and new user onboarding services. Following last week's community vote on the most attractive marketplaces, Passports Marketplace was found to be the most popular. This week, the community voted on their most preferred blockchain to be added to the app. Bank of Hodlers joined SelfKey's Loans Marketplace while Tokens.net joined the Exchanges Marketplace. COTI did a study on IoT payments and how it could offer a solution. The project was selected for the next listing vote on Gate.io. COTI community also got an opportunity to interact with the AtomicWallet team through an AMA this week. Hydro has been constantly updating its dev tools to offer a seamless developer experience Click here to read the latest Constellation Hypergraph mainnet stats. New features were added to the Molly wallet. Click here for steps to install the wallet. TheDailyChain expanded on how the $DAG ecosystem was growing. Pynk CEO Seth Ward wrote about the future of fintech in his EM360 article. Congratulations on crossing the 1k follower mark on Medium. In Shuffle Monster news, most of the $SHUF liquidity on Uniswap was moved to the V2 pool this week. New features were added to the Wibson app with the latest release giving more data control powers to the end user. Pre-staking started on the Harmony mainnet with the opening up of bids by validators followed by the election of the first batch of validators thereby marking the start of Open Staking. And just after, Harmony became the first ever blockchain to support sharded PoS. The news of Open Staking going live was covered by Coindesk and Cointelegraph. More details on what next was shared in a Coinspeaker article. How does a delegator fit into the overall scheme of things? Check out this video. Open staking noobs will find these 101 tutorials helpful. CTO Rongjian Lan also did a community call to explain about it. For the latest development updates otherwise known as #pow thread, click here. Harmony’s EPoS is designed to be fair to all stakers. So make sure to optimise your staking rewards. $ONE Binance wallets were taken down briefly for a temporary maintenance activity. They now support the mainnet coin. Hope you had a chance to participate in the guess-effective-median-stake contest to win some cool $ONE prizes. Click here for the latest staking stats. $ONE was added to Binance Savings which offers a fixed rate of return on locked savings. A minor bug in the staking bug was removed. The APR numbers should get calculated more accurately now. The crew appeared for an AMA with StakingHub. Congratulations to the winners of Stake Heist! Binance and BitMax announced support for staking with BItMax crew also appearing for an AMA. IntelliShare crew sat down for an AMA with CoinNess this week. And with that, we have to close for this week in the Parachuteverse! See you again with another update. Ciao!
On July 14, 2020, join Binance as we kick off our third anniversary with one of the biggest blockchain events of the year. Get the latest news and updates on all things blockchain and crypto, and take an exclusive look at what’s coming next at our “Off the Charts!” Virtual Conference, a blockbuster 10-hour live event with multi-regional programming that brings together 80+ influential speakers, including leading blockchain and crypto innovators, business and technology leaders, influential academics, and key policymakers. Expect to hear the latest insights on the blockchain ecosystem from some of the industry’s most prominent leaders and visionaries. Join our can’t-miss event with powerful talks, breakthrough panels, opportunities to win prizes, and much more. The “Off the Charts!” Virtual Conference will feature five segments with spotlights on regions making a significant impact in the space: Europe & the UK, Asia-Pacific, Russia & CIS, Africa & Middle East, and North America & LATAM. Discover an array of keynotes, panels, and fireside chats, on these following themes and more:
Powering Crypto Growth: Local blockchain trends and evolving technologies that are transforming crypto awareness and adoption.
Crypto Meets Traditional Finance: Exploring opportunities for integrated and parallel development.
Blockchain and Global Health: Crypto’s appeal in today’s volatile environment.
Policy and Regulation: Spearheading community initiatives through cooperation and investment.
Trading Strategies and Technical Analysis: Training and insights to improve your trading.
Hear from these speakers and more:
Akon - Chairman & Co-Founder, Akoin
Cliff Liang - Director of Solutions Architecture, Amazon
David Ferrer Canosa - Secretary for Digital Policies, Government of Catalonia
Don Tapscott - Executive Chairman, The Blockchain Research Institute
Oleksandr Bornyakov - Deputy Minister, Ministry of Digital Transformation of Ukraine
Perianne Boring - Founder and President, Chamber of Digital Commerce
Changpeng Zhao (CZ) - Founder & CEO, Binance
He Yi - Co-Founder & CMO, Binance
Aarón Olmos - Economist, Olmos Group Venezuela
Alex Saunders - CEO & Founder, Nugget's News
Anna Baydakova - Reporter, CoinDesk
Anton Mozgovoy - Head of Product, Jthereum
Apolline Blandin - Research Lead, Cambridge Centre for Alternative Finance
Beniamin Mincu - CEO, Elrond
Bobby Ong - Co-founder, CoinGecko
Brendan Eich - CEO & Co-founder, Brave Software
Bruno Diniz - Managing Partner, Spiralem Innovation Consulting
Calvin Liu - Strategy Lead, Compound Labs
Camila Russo - Founder, The Defiant
Carlos Rischioto - Client Technical Leader & Blockchain SME, IBM
Carylyne Chan - Interim CEO, CoinMarketCap
Catherine Coley - CEO, Binance.US
Charles Hayter - CEO, CryptoCompare
Charles Hoskinson - Founder, Cardano
Charlie Shrem - Host, UntoldStories.Com
Chimezie Chuta - Founder, Blockchain Nigeria User Group
Darius Sit - Partner, QCP Capital
David Ferrer Canosa - Secretary for Digital Policies, Government of Catalonia
Denis Efremov - Investment Director, Da Vinci Capital
Don Tapscott - Executive Chairman, The Blockchain Research Institute
Eric Turner - VP, Market Intelligence, Messari
Erick Pinos - Americas Ecosystem Lead, Ontology
Ernesto Contreras Escalona - Head of Business Development, Dash Core Group
Eugene Mutai - CTO, Raise
Genping Liu - Partner, Vertex Ventures
Hany Rashwan - CEO, 21Shares AG
Harry Halpin - CEO, Nym Technologies
Hongfei Da - Founder, Neo
Igor Runets - CEO, BitRiver
İsmail Hakkı Polat - Cryptocurrency & Blockchain Lecturer, Istanbul Kadir Has University
Jamie Burke - CEO, Outlier Ventures
Jiho Kang - CEO, Binance.KR
John Izaguirre - Europe Ecosystem Lead, Ontology
John Khenneth Parungao - COO, SwipeWallet, Inc.
Jon Karas - President & Co-Founder, Akoin
Jorge Farias - CEO, Cryptobuyer
Joseph Hung - Director of Market Strategy, Klaytn
Joseph Lubin - CEO, ConsenSys
Juan Otero - CEO, Travala.com
Justin Sun - Founder, TRON & CEO, BitTorrent
Kristina Lucrezia Cornèr - Managing Editor & Head of Features, Cointelegraph
Ken Nakamura - CEO, GMO-Z.com Trust Company
Konstantin Goldstein - Principal Technical Evangelist, Microsoft
Kyle Samani - Managing Director, Multicoin Capital
Thamim Ahmed - Researcher, University College London
Tom Lee - Head of Research, Fundstrat Global Advisors
Tyler Spalding - CEO, Flexa
Veronica Wong - CEO, SafePal
Viktor Radchenko - Founder, Trust Wallet
Winpro Yan - Chief Editor, Mars Finance
Yele Bademosi - CEO, Bundle Africa
Zhuling Chen - COO, Aelf Blockchain
Stay tuned as speakers and more themes are announced in the coming weeks! For more details, read our blog posthereand visit our event websitehere. During the livestream, we will be holding special #BinanceTurns3activities for viewers and giving away limited-edition prizes, swag, and collectible NFTs at various points throughout the livestream. Availability is limited! Register today! Binance Awards 2020 Join Binance as we celebrate the standout innovators and businesses that have made sizable contributions, both to our community and to our blockchain ecosystem. Winners will be announced during our live event, and results will be published on our blog afterwards. Register on Eventbrite today and tune in to the “Off the Charts” Virtual Conference on July 14, 2020, from 9:00 AM to 7:00 PM (UTC). -------- Thank you to our partners for helping make this event possible!
Welcome to dashpay! If you are new to Dash, we encourage you to check out our wiki, where the Dash project is explained from the ground up with many links to valuable information resources. Also check out the menu bar on top and the sidebar to the right. We have very active Discord and Telegram channels where the community is happy to answer any and all newcomer questions.
Purpose of this post
This post is directed towards community members who wish to rapidly access information on current developments surrounding the Dash cryptocurrency. Lately we've noticed how the pace of events picked up significantly within the Dash project due to many years of hard work coming together and pieces falling into place ("Evolution" is finally here. It's called Dash Platform). For the purpose of keeping these many pieces of information together, however, singular Reddit submissions are insufficient. Thus we decided to maintain a pinned thread collecting blog posts, interviews, articles, podcasts, videos & announcements. Check back regularly, as this thread will always feature the latest news around Dash, while also serving as a mid-term archive for important announcements and developments. Journalists looking for news and contact opportunities wrt Dash, please bookmark:
What tonight's "60 Minutes" piece on BTC will be about. ( Basically, FUD )
It seems tonight's piece won't be a super supportive piece, but more on the misinformed/slightly negative side, unfortunately. They will be interviewing the guy that bought pizza with BTC and comparing his purchase then, to BTC's price now (silly). Then speaking to someone at the Fed who will be trying to warn people about BTC and how it's not backed by governments or have deposit insurance.
At the end of a volatile week in the stock market, "60 Minutes" examines the even wilder financial world of Bitcoin and other cryptocurrencies. The story, reported by Anderson Cooper, includes the first television interview with the legendary "Bitcoin pizza guy," Laszlo Hanyecz. On May 22, 2010, Hanyecz traded 10,000 Bitcoin for some pizza in what is widely believed to be the first real-world transaction involving Bitcoin. Each year, on May 22, Bitcoin enthusiasts all over the world celebrate "Bitcoin Pizza Day" to mark the event. Bitcoin then was worth less than a penny. Hanyecz, a computer programmer who lives in Florida, told Cooper he made a number of other trades after the pizza. In all, he estimated that he spent 100,000 Bitcoin on a number of items, much of it on pizza. At the time of this interview, one Bitcoin was worth about $8,000. "That's $800 million," Cooper says. "You spent about $800 million on pizza?" Hanyecz replies, "Well, if you look at today's exchange rate." "Are there nights you wake up," Cooper asks, "where you think, 'I could have had $800 million… if I hadn't bought those pizzas?'" "I think thinking like that is… not really good for me," Hanyecz says. Cooper's report includes interviews with Federal Reserve Governor Lael Brainard; Neha Narula, director of the MIT Media Lab's Digital Currency Initiative; Marco Streng, the CEO of Genesis Mining; and Charlie Shrem, one of Bitcoin's first millionaires and also one of its first convicted felons. Bitcoin is a digital computer-based currency that is not backed by any government or bank. Its records are maintained by a global network of computers known as "mines," and its value is based on the free market. It can be bought and sold for dollars through businesses called "exchanges." For the "60 Minutes" report, Cooper visited a cryptocurrency "mine" in Iceland. He also visited the Federal Reserve in Washington D.C., where Brainard warns investors that cryptocurrency is much riskier than the U.S. dollar. "The Federal Reserve and ultimately the U.S. Treasury stand behind [the dollar]," says Brainard. "And when you hold your dollars in a bank account, you have deposit insurance… None of those accountability mechanisms exist for Bitcoin." See the full "60 Minutes" report, Sunday, May 19 at 7:00 p.m. ET/PT on CBS.
Researchers Claim That Most of Ripple’s (XRP) “Circulating Supply” Is Illiquid, Market Cap Is Overestimated by $6.9 Billion
https://preview.redd.it/818z6r6fdlc21.png?width=690&format=png&auto=webp&s=357fa0756beccb6a62b5997704b2277eb511ee5f https://cryptoiq.co/researchers-claim-that-most-of-ripples-xrp-circulating-supply-is-illiquid-market-cap-is-overestimated-by-6-9-billion/ An investigation by Messari Research has concluded that the true circulating supply of Ripple (XRP) is 21.8 billion versus the 41 billion Ripple (XRP) displayed on CoinMarketCap. If this is true, it means that Ripple (XRP) has a market cap of $6.9 billion, well behind Ethereum’s (ETH) $12.2 billion market cap. Further, if this data is accurate then the Ripple (XRP) market is even more centralized than previously thought, with 78.2 billion XRP under centralized control versus the commonly published 59 billion XRP figure. There is 52.5 billion XRP in long term escrow, and 6.5 billion XRP is available for restricted sale, which yields 59 billion XRP under centralized control by Ripple Labs. This is the commonly known figure published on sites like CoinMarketCap. It indicates a high degree of market centralization, especially when considering that the buy support for Ripple (XRP) is only $14.5 million according to CoinMarketBook, while the 59 billion XRP under centralized control is worth $18.7 billion. This makes the Ripple market extremely susceptible to centralized dumping. Essentially, Ripple Labs is suppressing the Ripple (XRP) price long term for personal gain. It gets worse, according to Messari Research. Jed McCaleb, the Co-Founder of Ripple (XRP), who left Ripple Labs and went on to become a co-founder of Stellar (XLM), has tight selling restrictions on the 6.7 billion XRP he owns. Further, Ripple (XRP) Co-Founder Chris Larsen said he would donate 5.9 billion XRP to RippleWorks, which is a charity organization, but the donation has not yet taken place. This means these 5.9 billion XRP are illiquid as well. Additionally, Ripple Works already holds 2.5 billion XRP, and these have daily selling restrictions and are relatively illiquid. Also, 4.1 billion XRP sold by Ripple Labs’s money service business XRP II is subject to selling restrictions and relatively illiquid. Adding all these relatively illiquid XRP together yields 19.2 billion XRP. There might be an additional 3.6 billion XRP held by Chris Larsen and 1 billion XRP held by Arthur Britto based on the initial allocations to the Co-Founders of Ripple (XRP), but there is no way to know how much of this was spent, and Messari research does not include these XRP in its calculations. In total, this means that at least 78.2 percent of the total Ripple (XRP) supply is relatively illiquid and not truly circulating. The 78.2 billion relatively illiquid XRP is worth $24.7 billion, versus the $6.9 billion market cap of the Ripple (XRP) in circulation. It seems illogical to invest in Ripple (XRP), since centralized dumping will be sucking money out of the market long term. It makes much more sense to invest in cryptocurrencies with decentralized supplies like Bitcoin (BTC), Litecoin (LTC), and Dogecoin (DOGE), among many others. This research also teaches an important lesson. The total crypto market cap on CoinMarketCap is likely inflated. Ripple (XRP) is currently ranked number two, yet somehow the circulating supply figures and market cap have been incorrectly displayed for years. It is possible that other cryptocurrencies have similar miscalculations. Currently the total crypto market cap on CoinMarketCap is $119.4 billion, but based on this research it is at most $113.3 billion. https://twitter.com/CharlieShrem/status/1088818662092558336
Newbs might not know this, but bitcoin recently came out of an intense internal drama. Between July 2015 and August 2017 bitcoin was attacked by external forces who were hoping to destroy the very properties that made bitcoin valuable in the first place. This culminated in the creation of segwit and the UASF (user activated soft fork) movement. The UASF was successful, segwit was added to bitcoin and with that the anti-decentralization side left bitcoin altogether and created their own altcoin called bcash. Bitcoin's price was $2500, soon after segwit was activated the price doubled to $5000 and continued rising until a top of $20000 before correcting to where we are today. During this drama, I took time away from writing open source code to help educate and argue on reddit, twitter and other social media. I came up with a reading list for quickly copypasting things. It may be interesting today for newbs or anyone who wants a history lesson on what exactly happened during those two years when bitcoin's very existence as a decentralized low-trust currency was questioned. Now the fight has essentially been won, I try not to comment on reddit that much anymore. There's nothing left to do except wait for Lightning and similar tech to become mature (or better yet, help code it and test it) In this thread you can learn about block sizes, latency, decentralization, segwit, ASICBOOST, lightning network and all the other issues that were debated endlessly for over two years. So when someone tries to get you to invest in bcash, remind them of the time they supported Bitcoin Unlimited. For more threads like this see UASF
The market cap of crypto, and the fundamentals, have little correlation with each other
90% of the conversations found here in cryptocurrency, and most other project subreddits are people illustrating their imagined future of the decentralized world ahead of us.
Today, that is all we really have. Bitcoin doesn't really do remittances at the moment. Ethereum has an exchange (IDEX) as its best DApp. Volume on Stellar's Decentralized Exchange for cross-border fiat exchange is .... lacking. Augur just launched today, and we don't even know for certain if it is the product that we are hoping it is. At least the the valuation of Augur can actually begin now, rather than being just speculation. But we can all have at the moment is our imaginations of the future, and some amount of pattern recognition skills that make us all relatively confident that this future we have imagined will arrive one day. Check out this web-mapping of different subreddits and people that subscribe to common subreddits.. Here we see this fantastical, narrative spinning, imaginative microsection of Reddit where people share stories about the future, and what the future might be like. But the price gives no fucks about your imaginations. The reason why the stock market prices are generally stable is because people can replace their imagination of the future, with concrete calculations of future income, make rational comparisons to other companies, and come out with a decent decree of certainty about the future valuations of different stocks. When Bitcoin was pushing 20k, and the Coin Market Cap was pushing .9 Trillion, we were all geniuses, because we thought the future was here, and we predicted it. Now bitcoin is pushing down on 6K and CMC is pushing .25 Trillion, and all of a sudden we realize that the future isn't here at all. So how far away is the future? Wherever it is, I think it's coming at an accelerating pace. In 2017 and 2018, 100x more developers came to the space than in all of 2009-2016 combined. This means that fundamentals are progressing at an proportionally quick rate. Charlie Shrem, in the latest Bad Crypto podcast estimated that "Pretty much everyone has at least heard about cryptocurrency".. People are coming to the space that we never expected. The NBA Commissioner David Stern is getting into Crypto with a project trying to allow anyone becoming a Sports commentator, kind of like how Twitch allows anyone to commentate a video game. Celebrities left and right, along with their clout, are adopting crypto just as much all of your friends and family are (which means some of them) "It can all go to 0" is the biggest bunch of bull I've ever heard. A simple thought experiment can take care of this. If Bitcoin dropped too low, I personally would buy as much as I reasonably could. So would many other people. It's a worldwide currency with a world full of buyers. Too many people are looking at the Bitcoin price, and asking "Should I buy today?".
Anyone who says "It can all go to 0" simply doesn't understand the unique collection of different technologies that Satoshi organized, or what it produces.
And now to my first and last point. The current price evaluations of Cryptocurrencies are 100% due to the imaginations of the future in our heads. Therefore, when Bitcoin falls below 6K, Ether below $400, or your preferred coin below its best support, it's because people have pushed out how far the future actually is. But the future is still there somewhere, and we all know in Crypto that for every bear market, where people think the future will never come, there is an equal and opposite bull market for people who think the future is tomorrow.
For anyone who it interested in learning more about investing, crypto, finance, blockchain, and entrepreneurship can checkout this list I made of the top podcasts to follow in 2019 with some selected episodes chosen from each one: Off The Chain With Anthony Pompliano Host Anthony Pompliano talks to some of the most respected names in crypto and Wall Street to find out how intelligent investors from the new and old financial system are thinking about digital assets. Top Episodes: CZ, Founder and CEO of Binance: Binance and the Future of Global Crypto Regulation Murad Mahmudov: The Ultimate Bitcoin Argument Travis Kling: The Secrets of A Crypto Trader Unchained: Your No-Hype Resource for All Things Crypto This weekly, hour-long podcast with host Laura Shin dives deep into the people building the decentralized internet, the details of this technology that could underpin our future, and some of the thorniest topics in crypto, such as regulation, security and privacy. Top Episodes: Vitalik Buterin, Creator of Ethereum, On The Big Guy vs. The Little Guy Naval Ravikant On How Crypto Is Squeezing VCs, Hindering Regulators, and Bringing Users Choice Blockchain 101 with Andreas Antonoloulos What Grinds My Gears From Meltem Demirors and Jill Carlson, What Grinds My Gears is a podcast about the bizarre and buzzworthy happenings in the world of cryptocurrency. Each week, they delve into one key theme in crypto, and examine this theme through a broader financial, political, and cultural lens to learn from the past, understand the present, and explore the future. Top Episodes: An Unfetted Orgy Of Capitalism It’s All About The DEX, Baby! Tarred & Tethered What Bitcoin Did Since the birth of Bitcoin in 2009, a new class of Crypto assets built using the innovative design of the blockchain is disrupting technology and financial markets. In this podcast you will hear host Peter McCormack speak with crypto traders, miners, venture capitalist, investors, technical developers, CEOs, journalist and other people driving forward the growth of Bitcoin and other cryptocurrencies. Link To Listen Top Episodes: Andreas Antonopoulos: What Happens When Bitcoin Takes Over? Peter Van Valkenburg on Lightning & The Law Tuur Demeester on Why Bitcoin Is In Heavy Accumulation Untold Stories with Charlie Shrem Host Charlie Shrem dives deep into the lives and personal histories of some of crypto’s most influential leaders. A focus on personal stories weaves together a nuanced, untold narrative of how the crypto movement truly came to be. Top Episodes: J. Maurice “Wiz” — The Real Story of Mt. Gox & How to Become a Self-Sovereign Bitcoin Miner Arianna Simpson — Why Founders Shouldn’t Think About an Exit & Becoming BitGo’s 3rd Employee Steven Nerayoff — Crypto as a Disruptive Technology & Governments Debasing Their Own Currencies Tales From The Crypt Tales from the Crypt is a podcast hosted by Marty Bent about Bitcoin. Join Marty, Editor in Chief of “the best newsletter in crypto”, as he sits down to discuss Bitcoin with interesting people. Top Episodes: Tales from the Crypt: Pierre Rochard Pt. I Tales from the Crypt #3: Santiago Siri Tales from the Crypt Ep1: The History of Bitcoin Pt. 1 The Token Daily with Soona Amhaz Host soona amhaz sits down with the movers and shakers of the crypto industry to discuss the big ideas they spend their days thinking about. Soona and her guests examine everything from industry trends, to what books they’re reading, to human psychology and investing. Top Episodes: Taylor Pearson, Author of The End of Jobs: Markets Are Eating the World Dani Grant, Analyst at Union Square Ventures: The VC Outlook on Crypto’s Trends and Future Tony Sheng, Independent Analyst: A Writer’s Take on Bitcoin Lore The Flippening Flippening is for cryptocurrency investors. Each week host Clay Collins discusses the cryptocurrency economy, new investment strategies for maximizing returns, and stories from the front lines of financial disruption. Flippening is for a new class of investors that were not part of the financial services world before bitcoin, but got into the finance because of their passion for cryptoassets, blockchain, altcoins, and distributed ledger technology. Top Episodes: Strategies for Accumulating BTC (Instead of USD) w/ Tuur Demeester from Adamant Capital The Economics of Cryptoasset Markets w/ Professor Stephen McKeon Bootstrapping A Crypto Nation State From Scratch, w/ Eric Meltzer of INBlockchain The Chain Reaction Podcast Host Tom Shaughnessy of Delphi Digital converses with the top names in crypto and blockchain. Top Episodes: ConsenSys’ Joe Lubin: Ethereum’s Competition Isn’t Even Close Delphi Digital’s March Analyst Call — Ethereum, Enjin and Our Short Term Bitcoin Outlook Vision Hill Group’s Scott Army: Digital Asset Management of the Future a16z Podcast The a16z Podcast discusses tech and culture trends, news, and the future — especially as ‘software eats the world’. It features industry experts, business leaders, and other interesting thinkers and voices from around the world. This podcast is produced by Andreessen Horowitz (aka “a16z”), a Silicon Valley-based venture capital firm. Top Episodes: What Time Is It? From Technical to Product to Sales CEO Principles and Algorithms for Work and Life Five Open Problems Toward Building a Blockchain Computer Unconfirmed: Insights and Analysis From the Top Minds in Crypto Events in crypto take place at warp speed. This weekly crypto podcast reveals how the marquee names in crypto are reacting to the week’s top headlines. With host Laura Shin, the guests also discuss what they’re thinking about these days and reveal what they believe is on the horizon in crypto. Disclosure: Laura is a nocoiner. Top Episodes: To the Moon and Back With Polychain’s Olaf Carlson-Wee Don Wilson of DRW Holdings on What’s Been Driving 2018’s Crypto Downturn Hu Liang of Omniex on What Institutional Players Are Planning to Do in Crypto The Unhashed Podcast Unhashed breaks down the latest in Bitcoin news and developments and puts them into terms everyone can understand. Expect to be both entertained and educated about cryptocurrencies and blockchain. How do hardware wallets work and do they really keep you safe? Which crypto exchanges pose the greatest risk to the bitcoin ecosystem? Does Litecoin help or hinder bitcoin development? Expect the answers to these and many other questions from the Unhashed professionals offering different perspectives to all the blockchain issues you care about! Top Episodes: The Very Rich, Very Patient Binance Hacker Bitcoin Goes High Fidelity Initiating Unhash The Scoop The Block’s team, led by Frank Chaparro, draw out the freshest and deepest insights about digital assets from traditional Wall Street, crypto native, Fortune 500 and many other crypto ecosystem leaders. It’s light, fun and informative brain food! Top Episodes: A Conversation with Mark Yusko, CEO and CIO of Morgan Creek Capital Management A Conversation with Stephen Palley, Partner at Anderson Kill A Conversation with Emilie Choi, VP Business and Data, Coinbase Base Layer Base Layer with host David Nage will be providing insights from founders and investors in the base layer of cryptoassets. Simplifying complex projects and the technology being developed, from interoperability to relayers and more — who is building the future, why are they and how are they doing it. Top Episodes: Base Layer Episode 028 — Zaki Manian (SkuChain, Cosmos, Tendermint) Base Layer Episode 026 — Diogo Monica (Co — Founder, Anchorage) Base Layer Episode 032 — Alexander Skidanov (NEAR) Blockchain Innovation: Interviewing The Brightest Minds In Blockchain Blockchain Innovation is where host Frederick Munawa interviews the brightest minds in Blockchain and cryptocurrency — entrepreneurs, executives, and top academics — to discuss present and future applications of Blockchain Technology. Why? To determine how Blockchain can be used to increase profits, cut costs, and disrupt traditional industries and business models — so you can borrow their strategies, tools, and tactics for your own success. Join Frederick every Tuesday to learn how the brightest minds in Blockchain are pushing the envelope with Initial Coin Offerings (ICOs) and token sales, public blockchains, private blockchains, Bitcoin, Ethereum, Hyperledger, smart contracts, and much more. Top Episodes: Why Bitcoin Should Hard Fork With Roger Ver How Blockchain Assets Are Changing The World With Erik Voorhees Blockchain Meets Artificial Intelligence with Dr. Ben Goertzel Blockchain Insider Blockchain Insider, hosted by Simon Taylor and Colin Platt is a dedicated podcast specializing in Bitcoin, Blockchain and distributed ledger technology (DLT). Simon and Colin break down the week’s news with expertise and enthusiasm for the blockchain and digital currency sector. Since the price of Bitcoin has rocketed, and Bitcoin, Ethereum and Litecoin have become household names, Blockchain Insider has charted their rise in a way that’s accessible to new listeners. Top Episodes: Ep. 42. Santander Makes Ripples and Charles Hoskinson Shares His Vision of Cardano Ep. 27. XRP’s Ripple effect and Blockchain use cases Ep. 43. Sexism in Crypto, Pornhub takes Verge, and Binance Denies the Dollar Let’s Talk Crypto Have you ever heard of digital currencies like bitcoin, ethereum, and buzzwords like blockchain, cryptocurrencies and mining? Don’t know what it all means or how to get started? Let’s Talk Crypto with Barry Moore and Tom Galeski breaks it all down in easy to understand terms and helps you “learn and earn” in the age of cryptocurrencies. Top Episodes: 006: Altcoins 017: Fiat & Crypto 010: Proof of Work vs. Proof of Stake Blockchain 2025 Blockchain is a technology that will disrupt nearly every industry. Host Matt Aaron and Blake Moore explore one industry in every episode. How will blockchain change art, music, or online advertising? What projects are already underway? Listen & find out. Top Episodes: Online Ads — Publishers and Advertisers vs. Centralized Platforms Music Biz — Can Artists Have More Money + Freedom? Crypto Debit Cards — A Bridge to the Future? TenX, Monaco, Comit IBM Blockchain Pulse Host and blockchain-evangelist Matt Hooper engages with the planet’s most dynamic blockchain thought-leaders, explorers and innovators to discover the countless new ways blockchain is leaping from theory to reality: From entertainment to identity, from payments to secure supply-chain transparency. Top Episodes: Making Cross-Border Payments Seamless — IBM Blockchain and Stellar’s Collaboration That is Bringing Commercial Payments to the Financial World A Blockchain Origin Story and Enabling Complete Ownership With Blockchain The Future of Protecting Your Wallet and Identity: Blockchain Identity and Digital Credentials, with Adam Gunther and Drummond Reed Messari’s Unqualified Opinions Unqualified Opinions is a podcast hosted by Messari’s CEO Ryan Selkis featuring candid, fast-paced interviews with crypto’s top builders and investors. Top Episodes: Bill Barhydt, CEO & Founder of Abra Anthony Pompliano, Founder at Morgan Creek Digital Unlock Protocol CEO Julien Genestoux
Guy rates GVT an F due to these issues, thoughts on this review?
I'm copying and pasting his review here - DISCLAIMER THIS IS NOT MY REVIEW: Team: 13 Points - Team is full of software developers and tech experts, but no one with experience working on the blockchain to my satisfaction. The CEO claims to have experience working on the blockchain at QauntBrothers but I couldn’t verify this information. I can’t find any information on this company working on Ethereum or smart contracts, or the blockchain like the CEO claims. It’s also a rather small company with only 3 current employees on linkedin which the CEO only worked at for 9 months. Here is their website: http://www.quantbrothers.com/ Their Linkedin: https://www.linkedin.com/company/quantbrothers/ Also their advisors are too weak. They have a business management expert (very important) and a ton of finance/trading and investment experts. But no experts to advise on blockchain tech besides, Charlie Shrem and Konstantin Gladych (founder and CEO of Changelly). I will go into more detail about this later. MVP: 10 Points - They have a demo you can download. Ease of Research: 10 Points - Team had linkedin profiles, were easy to research. White Paper, roadmap, and relevant social media links were well laid out. Solves an Important problem: 10 Points - Yes, there this is a large issue of trust in the asset management market. Especially on a global scale. GVT seeks to use the immutability of blockchain to create a brokerage platform build on trust. Does it need a blockchain: 10 Points - Yes, the immutability of the blockchain is where the trust comes from. Token Use: 5 Points - “GVT is an internal currency of Genesis Vision platform and will be used for all investment operations and profit distributions.” I’m not convinced that the function of the gvt token couldn’t be fulfilled by ETH. However the GVT token is integrated into the platform and is necessary for pretty much everything. But based on the usage I think it can be an unnecessary extra step in some of the processes. The GVT token is used for the broker’s investment operations, for payouts, and to buy broker cryptocurrenies. The GVT token seems like an unnecessary middle man in an already complicated enough process. Roadmap: 0 Points - Their roadmap looks atrocious. It’s very hard to read and needs to be redesigned. Presentation: 0 Points - This project is horrible presented. It took me forever to even figure out what they do, let alone the actual size of the problem they were trying to solve. Their Youtube video is pretty much all fluff and platitudes. There is information overload on that video and it doesn’t really even tell me anything. Gives me a vague idea of the problem and introduces GVT as the solution but those who don’t already have a solid grasp of the asset management market wouldn’t really understand it. They have a huge problem with communication and marketing and honestly their marketing team needs to be fired. Token Vesting: 2 Points - Their vesting period is only 1 year long. Considering the factors I’m going to go into in value/redflags, this is nowhere near enough. Competition: 5 Points - Covesting and coindash are used to trade cryptocurrenies while GVT is for cryptocurreny AND non-crypto trading. They will still compete for a portion of the same market. People will have only so much fiat to invest. Community: 4 Bonus Points - 42% on coin gecko. AVerage is around 50 Percent. Supply/Scarcity: 3 Points - All onsold tokens were burned during ICO. They had 44M tokens available during ICO but only sold about 4M. This makes me believe that they didn’t create much demand. Everyone who wanted GVT got it. Active use on the market: 0 Points - May adjust with their alpha launch in on April 1st. But they admitted that this will only be a prototype. Their full platform won’t be available until Jan 1st 2019. Will adjust this later if their alpha is used enough to our liking. Best in Field: 10 bonus Points - While GVt does have competitors for crypto trading, there are no competitors for non-crypto trading in the crypto space. Development: 0 Bonus Points - Only 15% development. 60% is the average. Redflags: -20 Points - One of GVT’s main advisors that they mention over and over again is Charlie Shrem. Charlie Shrem went to jail for money laundering through bitcoin. He failed to honor his agreements and pay people back money they lent him. He backstabbed his friends and partners, and scammed the Dash community by not using the money they gave him to help build a dash credit card. Links to proof below. Another shady advisor is the CEO of Changelly, Konstantin Gladych. There are many horror stories about the scammy nature of Changelly. They usually only respond and fix the issues (in a timely manner) they cause when someone calls them out on social media. The main draw of GVT is assuring the consumer that GVT is a platform you can trust with brokers you can trust, with a team you can trust to deliver. To me, this is tossed into question when their main advisors are people with, to put it kindly, questionable trustworthiness. This is compounded by the fact that they only have a 1 year vesting period and their full platform doesn’t roll out until January 1st. 2019. They have a long way to go and a lot to do, a lot of partners still need to be secured. There are many ways in which this project can succeed or fail and as it stands they aren’t, to me, exactly building trust with such a short lock up. For a project of this scale I’d want a 2 year lock up at minimum, 3 years ideally. Other coins have this, like Civic, GVT can too. Charlie Schrem backstabs partners - https://www.reddit.com/btc/comments/6q6zmm/roger_ver_on_twitter_charlieshrem_how_does_it/ Charlie Schrem doesn’t pay back his debts - https://bitcointalk.org/index.php?topic=817069.320 Charlie Schrem bails on promises to produce and provide updates on Dash Debit card https://www.reddit.com/dashpay/comments/7no9tg/what_happened_to_charlie_shrems_debit_card/ Value of Idea: 7 Points - GVT is a very ambitious project with good ideas. I’d even say it’s an amazing idea with large potential. But this also means there will be a huge pressure on the team to deliver on the roadmap, tech, secure partnerships, adhere to government regulations, and keep a steady supply of funding. Most startups with good ideas fail. Here are my main concerns.
The team lacks the experience of a full time business manager. I think this is exemplified in their development score, marketing campaign, and their choice of advisors. They have the CEO of “Tools for brokers” on their team, and is even using “Tools’ for brokers’ resources, tech, and potential client base as a kickstarter for the GVT project. But I’m not impressed by Tools for brokers. It seems like they are using their relationship with Tools for brokers as a crutch and I think that’s a bad idea. Here’s why.
I found surprisingly little information on the company “Tools for Brokers” which GVT is using as a reference and partner. Tools for brokers has been around since 2009 and only has 21 employees and 300 customers. Not exactly something to write home about. Here is a link to their linkedin profile. https://www.linkedin.com/company/tools-for-brokers/ “Tools for brokers” has only 209 followers in linkedin. Even Gensis Vision, which has only been around since last year, has 341 followers. GVT is even using Tools for brokers’ “ready codebase solutions.” So at least some of their technology is coming from a centralized company which, as laid out above, wasn’t that popular to begin with. GVT isn’t exactly inspiring confidence with this admission. More in this article about GVT explaining their low development score: https://blog.genesis.vision/genesis-vision-further-plans-a9069cd34eed
The article above attempts to explain away why their ICO performed so poorly in terms of acquiring funds and investors. I think this article speaks badly to the team's ability to adapt and take criticism. They even reference their advisors as a metric for their success. Advisors we know to be shady. The market spoke, and it doesn’t seem like the GVT team listened. This is why having an experienced business manager and good marketing team would be so important. The existence of this article highlights their lack of both.
Lets talk about their marketing. As stated before, it’s atrocious. They don’t seem to know how to sell their product, present their product’s value, or even really present in an efficient manner what their product does in a way that the laymon, most people, would understand. I also think that their marketing is going in the wrong direction. Let me explain.
GVT seeks to solve the problem of trust with Asset managers and financial advisors. They seek this by making the performance of brokers (the people trading stocks and cryptos) transparent. The reason this is important is because it’s quite easy for brokerage firms to give out false information on their performance. And it’s very difficult if not impossible to get effective regulation. Not only that, it is arduous and expensive for brokers to comply with regulations. But when we take this to a global scale, less developed countries have little to no regulations, allowing for larger scales of exploitation of investors which lead to millions of dollars lost a year. There have been many high profile cases of pansi schemes and general “Securities fraud.” This has lead to a general distrust of the asset management industry. Especially since there are so many incentives for asset managers and brokerage firms to hide data and act against the best interest of their customers. The problem with the GVT platform is that it’s not really built for the layman to go to a place and have their assets managed. It takes a lot of knowledge that most people don’t have. Most people won’t have the time to properly research successful brokers and adapt to market changes. This platform is more built for traders. So I think GVT’s marketing is all wrong. People who like trading will come here, not so much people who want their assets managed. The people, (most people) who want their assets managed would probably need some kind of third party to manage their assets. Those asset managers will and could then probably advertise themselves as someone who uses the GVT platform in order to gain trust with their clients. But then the problem of “can you trust that third party” arises again. So the marketing of GVT is really confusing and unfocused.
The team also needs to hire at least one person with proven experience working on the blockchain and not make excuses for their development score. I’m sure their team is competent at making code, but that’s not all you need to run a successful business.
COINDESK.COM and Consensus get clueless Bitcoiners to suck the dicks of the VCs and the fake bitcoiners likes the Winklevoss Brothers. (And I am not invited to offer my prospective at Consensus.)
When I wrote this on the subreddit and I did not shit about bitcoin and the law. I was like everyone else reading the code and learning the technology. However, I was politically aware of the New York landscape having run for mayor in 2005. https://np.reddit.com/Bitcoin/comments/2bqile/my_letter_to_ubenlawsky_about_draft_nyscrr_title Coindesk at the time was a small publication listening to Charlie Shrem and the Winklevoss brothers. At the time I just compiling my first Bitcoin node. I really never care about going to the moon or buying a lambo. When a new youtuber with 200,000 subscribers came into the space in 2018, I posted this video to tell him my story and why it was important for the space: https://www.youtube.com/watch?v=GJA1eZdkD3s (I even gave him $50 to get his attention but he gave me a bull shit answer.) The reason I post this is so you know I do exist, and that you reach out to Coindesk and ask them to present all sides. So far I beat CoinCenter ULC Bitlicense all over the United States but unfortunately, it's the New York one I want to see destroyed.
Molyneux interviews Gabe Hoffman, producer of An Open Secret, the documentary which exposes Brock Pierce's involvement in child sexual predation in Hollywood
Stefan Molyneux just posted a new interview with Gabe Hoffman, producer of An Open Secret. They discuss, among other things, how the US legal system protects pedophiles and child sexual predators by not punishing them. An Open Secret clearly shows that Brock Pierce was heavily involved in one such disgusting, predatorial operation. In fact, Brock lived in the house where this was all taking place. He claims he is innocent. He was never charged. When in 2014 Brock Pierce, Mark Karpeles, and Charlie Shrem were proposed as new members of the Bitcoin Foundation, there was an immediate uproar and demands for their resignations. A lot of stories about this reaction were later scrubbed from Google's search index. Brock refused to recuse himself. Days later, former Bitcoin Foundation member Patrick Alexander and 9 others resigned from the foundation. Alexander explained why this was an important moment for the foundation, and for Bitcoin:
The foundation members need to emulate very high moral values and ethics in business and in personal dealings, especially as it involves money. So far, the track record of prominent Bitcoin Foundation members has been abysmal. I no longer want to be associated with these people.
All this occurred shortly after the 2013 bull market and Mt Gox fiasco. You will not hear much talk about this story now, except in btc. It has been brushed under the rug. Frankly, this is part of the story of BTC's fall. , An Open Secret | Gabe Hoffman and Stefan Molyneux (new interview with the film's producer)
An Open Secret is an American documentary film directed by Amy J. Berg exposing child sexual abuse in the film industry in California. The film features interviews with victimized performers, who were targeted when they were young boys, as well as industry figures, the predators themselves, and journalists.
While cryptocurrency market is collapsing, why not give yourself a break, sit down and indulge in some of our top pick crypto films. It has been a dramatic ups and downs for the revolutionary internet money, Bitcoin, since its inception in 2008. Be that as it may, if you are still skeptical about how cryptocurrency works or what is the Bitcoin hype all about, there’s nothing better than a good documentary to address all your questions and fascinate you. With that said, here is a list of the top documentaries and TV shows every cryptocurrency trader and investor needs to watch. You will not just learn about Bitcoin. Watching them will also explain reasons as to why it was started and how the traditional banking system works. So let’s get started… https://preview.redd.it/jsccktzih0121.png?width=1772&format=png&auto=webp&s=1f70afb5591631b6c81a7a98fcbd0e95791499f3
This 60 minutes long documentary was released in 2015 and it features in-depth explanations on how Bitcoin and the blockchain technology will disrupt the traditional financial system. It interviews well-known icons in the cryptosphere such as Andreas Antonopoulos, Nic Cary and Roger Ver. The film tells the story of money and bitcoin by tracing the origins of money back to the age of barter. From here, through the use of various forms of footage and clever editing, the film tells stories of power, control and deceit. It traces the rise of the Medici and others through the history of banking and commerce. This film is perfect for anyone looking to understand bitcoin and what the central and commercial banks have done to our money. Enlightening and shocking. https://preview.redd.it/d1c4978rj0121.png?width=600&format=png&auto=webp&s=e45235f58f48d6c741cf8c7f804900e4b6f7d90e
This documentary gives insight into the early days of mining, and the drama that happened with the Mt. Gox and the Cyprus crisis. It presents a great intro into some of the very early adopters’ lives, such as Gavin Andresen, Brian Armstrong and Margaux Avedisian and why the community is blossoming in a time when the rest of the world is sinking deeper into depression and debt. The interview with the CEO of the Mt. Gox was also very interesting. The film explains many complex issues in layman terms to enable any family member to appreciate the invention for what it accomplishes. It invites one to look beyond mainstream misrepresentations that it is only a black market currency. https://preview.redd.it/jfee201ek0121.png?width=1456&format=png&auto=webp&s=39691dd56ad77fd5ca38f4b07b24a4c5df554dd0
This documentary is not directly related to cryptocurrency at all and it does not even mention cryptocurrency in the entire movie. However, it is a documentary about the life of the infamous face in the cryptosphere, John McAfee. Many people in the cryptosphere see John McAfee as a laughable figure who shills anything for a buck or two and he mostly gets ignored and sniggered at. As crazy as he is on Twitter, this film reveals another side of JM that you may not be aware of. The documentary may be misinformed or edited to suit the narrative of the writer but it’s clear to see JM’s decision making shown in the documentary echoes how he reacts still on Twitter. A short introduction of the film: John McAfee became a multi-millionaire after creating a prominent antivirus software, and later relocated to Belize. In April 2012, national police raided McAfee’s estate based on suspicions of drug manufacture or trafficking. Later that year McAfee’s neighbor Greg Faull was murdered and McAfee went into hiding before crossing the border to Guatemala and being deported back to the United States. The documentary suggests that McAfee was involved in the murder due to a feud between him and Faull over McAfee’s dogs. McAfee was never charged with any crime in Belize. https://preview.redd.it/veovxyw4l0121.png?width=1280&format=png&auto=webp&s=ecdb9d151ea7b780c2ad8939676eb47ddfcf34cd
For the haters out there! Who is Mr. Charlie Shrem?
Today I'm really excited. There was a lot of haters who claimed Effect.AI as a potential scam. Now leave with it. Charlie Shrem has joined the train! What? WTF are you talking about? Who is Chralie Shrem? Charles "Charlie" Shrem IV (born November 25, 1989) is an American entrepreneur and bitcoin advocate. In 2011 he co-founded the now-defunct startup company BitInstant, and is a founding member of the Bitcoin Foundation, formerly serving as vice chairman. In December 2014 he was sentenced to two years in prison for aiding and abetting the operation of an unlicensed money-transmitting business related to the Silk Road marketplace. He was released from prison around June 2016. In 2017, he joined Jaxx as its director of business and community development. Books: Nathaniel Popper, Digital Gold: Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money (Harper, 2015) Films: The Rise and Rise of Bitcoin (dir. Nicholas Mross, 2014) Banking on Bitcoin (dir. Christopher Cannucciari, 2016) For full biography please refer to: https://en.wikipedia.org/wiki/Charlie_Shrem Charlie is one of the most valueable advisors you can get! He has a lot of connections and influence in the crypto community. This man ride all the bad and good things in crypto train. He suffered a lot and he did a lot for community. Charlie Shrem regarding advising Effect.AI team: "It’s been a dream of mine to build a decentralized Mechanical Turk for a long time and I have always felt it was one the best possible use cases for crypto" - https://twitter.com/CharlieShrem/status/968474063294357506 Effect.AI done amazing job to sign so awesome advisor to their board. Keep it up guys!
There's been some fantastic work done in this subreddit spreading disinformation researching, criticising, and debunking bitcoin and its sacred cows over the past year, which I would like to celebrate. So here's some posts I saved on bitcoin-related topics. But I started saving things too late... So if you have and/or remember any great posts from the past year, dig them up and post them here. Also, unironically, maybe someone should start a buttcoin wiki First, three pieces of investigative journalism from Buttcoin's top minds. Here Charlie_Shrem examines the environmental impact of bitcoin mining. Key finding: For every Bitcoin transaction, 47 kilograms of CO2 is released into the atmosphere from the miners alone.
Current hash rate: 261,900,382 GH/s Number of transactions per day: 71,331 If we assume rather conservatively that 1GH/s = 1 watt on average, then this would mean 261,900,382W is being used to power the network. We can simplify this to 261,900 kW. Some miners can do better than 1W per 1GH/s, but many if not most do worse (i.e. 2W per 1GH/s to 10W per 1GH/s). Going by the figure of 0.527kg CO2 / kWh found on this page, 0.527kg CO2 x 261,900 kW x 24 hours = 3,312,511.2 kg CO2 per day Now, 3,312,511.2 kg CO2 / 71,331 transactions = 46.44 kg CO2 per transaction For comparison, even going by this Coindesk Article, an ATM produces daily 3.162kg in CO2 emissions. 0.25kwH x 0.527kg CO2 x 24 hours = 3.162kg/day. That means that the carbon emission for one Bitcoin transaction is equivalent to about 15 ATMs processing perhaps hundreds or thousands of transactions in a day combined.
Earlier this month Frankeh abruptly interrupted remittance-focused annular onanism by issuing a challenge: to find a single instance where bitcoin works out cheaper than a fiat alternative. In case you need to ask... Nope.
Right, there's a bunch of circlejerking happening in /Bitcoin right now so I think it's time to cut through the bullshit one way or another. Country to send money to. The biggest remittance markets are China, Indian and the Philippines. I believe that since /Bitcoin often gives the Philippines as an example of successful Bitcoin remittance then it is the perfect country to use in our challenge. Country to send money from. According to this wikipedia article Malaysia and Canada have the biggest expat Filipino communities. 900,000 and 500,000. So I think we should do the calculations based on both countries. The methodology Most people are not paid in Bitcoin. This is a fact. So for our calculation you must start with fiat, and end in fiat. We're not doing these calculations based on future utility of Bitcoin (No, neo. I'm saying...), we're doing them on the current utility. We will also be doing a bank to bank remittance, because that is nice an constant. We don't need to take into account pick up locations Bitcoin remittance allows and pick up locations normal remittance allows. They'll vary too much. Time will also not be taken into account, as time doesn't actually matter when it comes to remittance. Now, Bitcoiners might shout about this particular rule but let me explain my logic behind this. A foreign worker gets paid every Friday. They start the remittance process on the Friday and regardless of if it takes 0, 3, or 5 days their family back in their home country just needs to base their life around money coming in on remitters pay day + 0, 3, or 5 days. Time taken is of no real value when it comes to remittance. All that matters is that it consistently arrives on day x. As such, any remittance services that take over 5 working days are to be ignored for the sake of this challenge. The amount The amount is going to be 25% of the average wage in each of the countries. This isn't extremely scientific because it doesn't particularly need to be, and the figures are hard to come by. So 1826.75 MYR for Malaysia and 1,398 CAD for Canada. Don't bother complaining about these, they're just examples. Few more ground rules
We're going to be going from bank/bank card to bank regardless, so we're not interested in banking fees on either side. They will be the same regardless of Bitcoin or WU (for example)
It must be from local fiat to foreign fiat.. You can't palm off the conversion fee to the receivers bank to keep fees down.
Any remittance service can be used, as long as Bitcoin is involved for people fighting the Bitcoin corner and Bitcoin isn't used for people fighting the WU (or similar) corner.
You must go through the process and document all the fees for each. Fees to look out for are currency spreads, transaction fees on exchanges, etc
Finally a recent thread, but commendable all the same. Hodldown presents some research leading to facts overturning years of knowledge in the bitcoin wiki. Even us shills have been laughing at bitcoin's pathetic capability of 7 transactions per second. It turns out, we were out by at least a factor of 2:
The average number of transactions per block right now is: 665 transactions The average block size is 0.372731752748842mb. That means the average transaction is 0.00056049887mb. Which means 1mb of transactions (the limit) is 1784 transactions Assuming a 10 minute block (a whole other can of worms) that means there is 10*60 seconds. 1784/600 isn't 7. It's a 2.97. Bitcoin at a technical level can not handle even 3 transactions per second.
On the transaction side: the Bitcoin community seems convinced that banks are ripping them off (which imo they are not), and that it can be fixed by applying some magicsauce over a transaction that is facilitated by banks regardless. So far in practice I haven't seen any evidence of the 'fast' 'cheap' and 'easy' transactions, like most recently with Mollie. They usually compare the fees of BTC>BTC transactions to the fees of Chase Mastercard > a fucking nomad in the Sahara (with consumer protection) to prove their point. The community also seems convinced that the entire world banks the way America does, not realizing that in Europe banking has been dirt cheap for years. And the security... oh boy the security. Half the population can't manage to go without a virus for one year (not an actual statistic), and now you expect them to secure their coins? People are dumb as shit, and software is always one step behind the exploits. We could of course create Bitcoin banks, but then there isn't much left of the original idea. On the 'intrinsic value' side: what the hell is wrong with people. If the underlying product is no good in any aspect, why is it worth much? Right now (that's like 5 years after introduction mind you) BTC is used in 3 types of transactions: Silk Road, SatoshiDice & extremely questionable transactions. It does its job well in that aspect, and that's all it will ever be. The community just turned the technology into a giant ponzi, and they don't care as long as they get paid. The people actually doing business in Bitcoin probably don't care about the price that much.
Someone who deleted their account, on the argument that merchant adoption is a cause of the price drop:
That's just an excuse butters use for the price going down. There's no real difference between selling bitcoin for fiat and exchanging bitcoin for goods and services. Both are a form of sale of bitcoin, an expression of preference for something other than bitcoin. If on balance, there's more flow of bitcoin into fiat, goods or services than there is a corresponding opposing flow, then it is simply the market expressing the view that bitcoin is overvalued. Therefore, the reduction in the value of bitcoin (as valued in fiat) is a sincere expression of the market's view of what the correct price for bitcoin is. Think of an example: A true believer has 20 BTC. He exchanges 10 BTC with Dell for a whizzy server. Dell (or another intermediary) sell the 10 BTC at an exchange in return for fiat. The market price of BTC goes down. The price goes down, simply because a true believer cut his bitcoin holding, he got out. He thought having a server now was worth more to him than 10 tickets to the moon. Which is an expression of a negative view of the future value of bitcoin. A simple "aggressive" sale in trading parlance.
My understanding is that "Satoshi" had been trying to solve the technical problem of convincing a bunch of anonymous, volunteers to maintain and protect a distributed ledger, with no central authority. He thought that he had a solution, in the form of a protocol that included PoW, miner rewards, longest chain, etc. The solution seemed to work on paper; but, as a good scientist, he started an experiment in order to check whether it would also work in practice. For that experiment to be meaningful, it would have been enough if the coin was mined for several years only by a few hundred computer nerds, with the cooperation of some friendly pizza places and bars. The US$ price of the coin was not important to the experiment, and it was never meant to be a weapon for libertarians, a way to buy drugs or evade taxes, a competitor to credit cards or Western Union, a sound investment or item for day-trading. All those "goals" were tacked onto it afterwards.
bob237 comments on the the absurdity of coinbase and it's touted 'rebuy' scheme,
It gets even better than that, actually. A lot of bitcoiners don't like 'losing' bitcoin, and so coinbase added a popular 'repurchase bitcoin' feature that automatically debits your bank account to replenish the BTC in your coinbase account after a purchase. The ultimate result then is that you pay coinbase fiat, they take their cut, and then send that fiat on to the merchant. All 'bitcoins' used in the middle of the transaction are not really bitcoins, but just abstractions in coinbase's internal [off-chain] accounting system. It's a crap version of paypal, no consumer protection and a ton of fees hidden in the spread when you buy your chuck-e-cheese tokens from them.
saigonsquareexplains why ubiquitous tipping isn't the the killer app that it has been touted as, and why bitcoiners may fail to grasp this
Most people understand that there are different sorts of interaction. There are purely social interactions, there are quid-pro-quo interactions, and there are market interactions. Mixing those up causes embarrassment and insult. I wouldn't try to pay my mother-in-law ten bucks for cooking Christmas dinner, and I certainly wouldn't try to pay her ten cents. If a waiter suggests I try the raspberry tart, I won't get away with offering to bake him some cookies next week in compensation; if an office mate suggests I have a slice of her birthday cake, I'll be insulted if she brings me a bill for it. If I spend an hour helping my friend move apartments and he thanks me, I'm fine; we're friends helping each other out. If he pays me two bucks, I'm insulted; he's canceled the social nature of the interaction and instead simply bought my labor for a fraction of its going rate. I'm up two bucks but down a friend. Ancapspergers, not particularly understanding any sort of interaction more complicated than buying a cheeseburger at Wendy's, assume that all interactions are a form of market transaction, and set pricing accordingly. Normal humans get offended by a penny shaving, because it cancels the social nature of the interaction and turns it into a market transaction--and then informs the recipient that his contribution to the transaction was of negligible value.
While cryptocurrency market is collapsing, why not give yourself a break, sit down and indulge in some of our top pick crypto films. It has been a dramatic ups and downs for the revolutionary internet money, Bitcoin, since its inception in 2008. Be that as it may, if you are still skeptical about how cryptocurrency works or what is the Bitcoin hype all about, there’s nothing better than a good documentary to address all your questions and fascinate you. With that said, here is a list of the top documentaries and TV shows every cryptocurrency trader and investor needs to watch. You will not just learn about Bitcoin. Watching them will also explain reasons as to why it was started and how the traditional banking system works. So let’s get started… https://preview.redd.it/8juf3wzv34921.png?width=1772&format=png&auto=webp&s=2ff1c3fb49adde9991996cbffd0bbdc6c3154efd
This 60 minutes long documentary was released in 2015 and it features in-depth explanations on how Bitcoin and the blockchain technology will disrupt the traditional financial system. It interviews well-known icons in the cryptosphere such as Andreas Antonopoulos, Nic Cary and Roger Ver. The film tells the story of money and bitcoin by tracing the origins of money back to the age of barter. From here, through the use of various forms of footage and clever editing, the film tells stories of power, control and deceit. It traces the rise of the Medici and others through the history of banking and commerce. This film is perfect for anyone looking to understand bitcoin and what the central and commercial banks have done to our money. Enlightening and shocking. https://preview.redd.it/4kaoy17544921.png?width=600&format=png&auto=webp&s=043795009cf82164fec7d85df81e659530f05772
This documentary gives insight into the early days of mining, and the drama that happened with the Mt. Gox and the Cyprus crisis. It presents a great intro into some of the very early adopters’ lives, such as Gavin Andresen, Brian Armstrong and Margaux Avedisian and why the community is blossoming in a time when the rest of the world is sinking deeper into depression and debt. The interview with the CEO of the Mt. Gox was also very interesting. The film explains many complex issues in layman terms to enable any family member to appreciate the invention for what it accomplishes. It invites one to look beyond mainstream misrepresentations that it is only a black market currency. https://preview.redd.it/sshmwka844921.png?width=1456&format=png&auto=webp&s=e55ef3124e658bcb47d50b6c3b0f6af81846df9c
This documentary is not directly related to cryptocurrency at all and it does not even mention cryptocurrency in the entire movie. However, it is a documentary about the life of the infamous face in the cryptosphere, John McAfee. Many people in the cryptosphere see John McAfee as a laughable figure who shills anything for a buck or two and he mostly gets ignored and sniggered at. As crazy as he is on Twitter, this film reveals another side of JM that you may not be aware of. The documentary may be misinformed or edited to suit the narrative of the writer but it’s clear to see JM’s decision making shown in the documentary echoes how he reacts still on Twitter. A short introduction of the film: John McAfee became a multi-millionaire after creating a prominent antivirus software, and later relocated to Belize. In April 2012, national police raided McAfee’s estate based on suspicions of drug manufacture or trafficking. Later that year McAfee’s neighbor Greg Faull was murdered and McAfee went into hiding before crossing the border to Guatemala and being deported back to the United States. The documentary suggests that McAfee was involved in the murder due to a feud between him and Faull over McAfee’s dogs. McAfee was never charged with any crime in Belize. https://preview.redd.it/yy1rgc2b44921.png?width=1280&format=png&auto=webp&s=b1aebf8d0c18991169997257f0ab7ca8f359dda2
The Rise and Rise of Bitcoin Made my Mom A Believer
My mom has been skeptical of bitcoin after the media onslaught against it from many different angles. I decided to blindly take a chance and meet her at her house while I was finally in town and not traveling for a story and decided to see if she wanted to watch a movie. A few minutes later I started The Rise and Rise of Bitcoin fully expecting her to go back to playing games on Facebook. Shockingly enough she started getting interested in the movie and became more and more interested. She saw the Casascius coins and declared she wanted one because of how cool they looked. I paused the movie and asked her how she was feeling about it thus far. She said Charlie Shrem was cute, it seemed like the technology was cool and that the people in the movie seemed really in to everything. As the credits began roll she proceeded to tell me that she was ready. I've sat her down with some materials on the Internet to learn more and I'm excited. Thanks Rise and Rise of Bitcoin!
Mackerelcoin (MAK) has arrived! If you havent read the brilliant whitepaper by Charlie Shrem yet, check it out here: http://motherboard.vice.com/read/bitcoin-for-prison Long story short, its up to us as a community to make Mackerelcoin (MAK) the incredible success I know it has the potential to be. That being said, I'm more of the ideas guy, and I need everyone else to do the work. Any contributions or help would be appreciated. So far I have created this image for the coin: http://i.imgur.com/pzyQaHU.png
"Charlie Shrem is an almost sacred guardian of this new idea, charged with the awesome responsibility of bringing it out of the darkness and into the light of widespread, mainstream acceptance." - Shrem's Lawyers
Had the Greeks known of crypto-currencies and of certain provincial Brooklyn neighborhoods, a tragedy could have been written about a boy who, through Dionysian passion and a little hubris, helped nurture an idea—bitcoin—that was new to the world, and that could change how the world—the whole world—passed value from one person to another. This new idea would take the boy from from his neighborhood. The boy would see himself as an almost sacred guardian of this new idea, charged with the awesome responsibility of bringing it out of the darkness and into the light of widespread, mainstream acceptance. However, in the chaos of developing the new idea, he would drop his guard, and allow the dark forces to caste it in shadow. He would be to blame. He would be viewed not as its protector but as its destroyer, the destroyer of the one thing—the idea—he loved most. He would be sent back to his provincial neighborhood and, for a while, would live in his parents’ basements, all the while dreaming of the time he could return to his lifelong task of helping—of being just one of many—to bring this new idea further into light. The rest of the story remains to be written.
Happy Friday! I decided to post some of my thoughts today. It's about 6pm ET on this Friday, the Silk Road Auction Day. Banks on the east coast have closed and west coast banks are soon to follow. In 15 minutes bidding closes for the 30,000 Silk Road coins. quintin3265 hasn't posted his "a few thoughts" today, and I know many of us (including myself) are looking for some thoughts on this insane day (EDIT: As I'm writing this he posts lol), so I wanted to jot down some of mine on the day, the weekend, and next week. Today Yesterday and overnight we saw a nice recovery to $590 (after our drop from $590 that happened on Wens) and it was met with a large amount of resistance, the price simply couldn't break upward. The volume wasn't huge over a short period of time, rather it was done over a 4-8 hour window. Personally, I prefer when the price rises consistently over a period of a few hours than in 1 shot. About an hour ago, we saw a $15 drop, about 700 BTC sold within a 30 minute period. As I'm writing this, the price is building itself back up, currently at $582.55. Personally, I've been wanting to buy all week. I'd like to buy another 6 BTC or so before the auction results are announced or leaked. I'm tapped out at the moment, I like to keep enough USD in my credit union to cover 3-4 months worth of bills (my other assets are either not liquid or have penalties for selling) and if I buy 6 BTC now, that's reducing myself to 2 months of USD in the credit union. Thankfully, my consulting work pays in BTC and payday is Monday. I've been quietly praying that if we see a significant jump, it is not until Monday afternoon. The Weekend Honestly, this can go either way. We've seen weekends with a slow 3 day $40 rise and we've seen weekends where the opposite happens. Anyone who tells you the price always rises or always drops on weekends has no idea what they are talking about. I'd like to see data from Bitstamp/Bitfenix that shows a chart of how much USD/EUCNY vs BTC they are holding. Not to do with fractional reserve or anything, I'd like to see if there was a significant amount of fiat that has been wired in, anticipating a rise. If those numbers are high, and my friends who work for companies that are bidding are telling me the truth, their exchange accounts are fueled with fiat and ready to buy. Many people have predicted that this week people would be buying up, especially those who work for the companies that are bidding, as they would know the bid. However wouldn't it be smarter for these insiders to wait until after the bid closes at 6? I think so. The reason being, they can buy up cheap coins and no one else at the same time they will get more coins as they buy up to the bid price. Once bidding ends and the banks close, people won't be able to send wires into the exchanges to buy more coins. These insiders may be saying "If we start buying on Wens, we don't know what the final bid will be, and we give other people to piggyback off us and make our coins more expensive or we get less. Rather, if we wait until banks close, we are the only ones who stocked up significant fiat thus we can buy the coins up to the bid price" Just like quintin3265 says, the community is very small and word spreads quickly. There are always people in the know and will trade on their knowledge. The market is just waiting right now. Next Week The auction will end on Monday, and the winners announced. According to the USMS.gov website:
On Monday, June 30, 2014, by 5:00 PM EDT, the USMS will notify the winning biddebidders that their bid/bids has/have been selected.
This is very important, because many people are bidding solely for the sake of bidding. They want to be part of history to say they bid and have no intention of buying the coins if they win. Everyone is telling me "Well Charlie, I doubt the winners will announce what they paid". While that may be true, the losers will announce what they bid. That is very important. If the price is $580 on Monday, and someone who bid $650 announces they did not win the coins, what do you think will happen? Of course this opens us up to people lying/spreading FUD, so I wouldn't trade on some guy with a week old reddit account on /Bitcoin saying he lost, I'd wait for someone who actually has a reputation to lose to say something. Long Term Obviously those who know me know I'm long term bullish on Bitcoin. I bought my first Bitcoin at under $5 back in 2010 and have regretted selling when I needed to every since. Thankfully I get paid in Bitcoin and have bought on the lows and sold on the highs enough times to accumulate many back. Nothing could happen next week, who knows. The bubble may come 2 weeks or 2 months from now, maybe we will see slow growth for a year and slow decline. It's impossible to tell for sure. What I can say, is that if you buy 1 Bitcoin today, in 5 years you'll thank me. I'll end with a funny story. 2 weeks ago I was at the NYC Bitcoin Fair which takes place every Sunday, we have over 25 merchants accepting Bitcoin. Food, drinks, friends, and a lot of fun. Some random guy comes up to me and says "Charlie?" and I said, "Yup, thats me!", he proceeded to grab me and give me a huge hug. Now, many early adopters have had their fair share of 'Bitcoin celebrity' status, but this was unusual, even for me. Of course I asked him, why the hug? He said:
I've been wanting to thank you for so long, but I've been waiting to finally meet you in person. 3 years ago when you were running BitInstant I made a cash deposit to buy some Bitcoin when the price was going up! A few days after I bought, the price totally tanked and I was furious, I spent $1000 but my Bitcoins were worth almost half. I emailed you to blow off some steam and you answered a day later telling me to hold onto the Bitcoin unless I really really needed the money. Well, I listened to you and about a year ago I sold some during the $1200 bubble and bought an awesome Lexus!
Granted, if the price was zero right now, he wouldn't be coming at me for a hug, rather for something else. It was still nice to hear the story none the less and he bought me a burger as a thank you :) Have fun this weekend, go outside and enjoy the summer! Charlie Shrem
Charlie Shrem made a name for himself while heading BitInstant with Gareth Nelson and Erik Voorhees. At one time, BitInstant accounted for approximately 30 percent of all bitcoin transactions. SAN FRANCISCO — Over the last year, Charlie Shrem, a 28-year-old Bitcoin investor, has bought two Maseratis, two powerboats — one of them 32 feet long — and a $2 million house in Florida ... Charlie Shrem was the founder of BitInstant, one of the first firms to buy Bitcoin for clients. In his Midtown office, with weed paraphernalia on every shelf, he kept three bongs on his desk ... Bitcoin Profiles features key figures in the story of bitcoin and tells you who they are and what they’ve meant to the world of crypto. Charlie Shrem has had an impact on bitcoin and ... Charlie Shrem while running BitInstant, Image from CoinTelegraph. In addition to his entrepreneurial endeavors, Shrem was a founding member of the Bitcoin Foundation, alongside other notable cryptocurrency advocates such as Roger Ver.The Bitcoin Foundation is a nonprofit corporation dedicated to the “[standardization], [protection], and [promotion]… of bitcoin cryptographic money for the ...
Superintendent of Financial Services for New York, Ben Lawsky, has issued his proposed regulations for a Bitlicence governing Bitcoin businesses. I've warned... Jeffrey Albert Tucker is the executive editor of Laissez Faire Books.Tucker is also a Distinguished Fellow of the Foundation for Economic Education; an American economist. Mark Thornton appeared in an exclusive interview on RT TV to discuss the arrest of Charlie Shrem, and the motivation behind the U.S. government's war on Bitcoin and other private digital currencies. Mark Thornton appeared in an exclusive interview on RT TV to discuss the arrest of Charlie Shrem, and the motivation behind the U.S. government's war on Bitcoin and other private digital currencies... In this conversation, Pete and Charlie Shrem discuss journalism's relationship to changing technology, crypto governance and why it shouldn't exist, Bitcoin maximalism, the crypto industry's ...