dxDAO aims to power DeFi protocols through decentralized governance
I found this article on internet. It's repost of it to help educate people about all DXDao advantages: These are positive and necessary steps for DeFi. The new governance structures are intended to help coordinate across community stakeholders and make better decisions. These dynamics are influenced by the issues covered in Dose of DeFi, but I believe they deserve their own focused analysis. Govern Thisaims to educate token holders and make them better voters. Emphasis will be placed on specific governance proposals and relaying community governance discussions on forums and weekly calls. Governance is a coordination technology that has helped countries and companies build more than the sum of their parts. Blockchains are also a coordination technology, but for computers, not humans***.*** Govern Thiswill track the development of the melding of these two over the coming years. Like governance,Govern Thisis a work in progress. I would appreciate any feedback on format, topics covered or any other suggestions to make the newsletter better. Just hit reply. The first issue ofGovern Thisis below. Pleaseclick here to subscribe. Thanks for reading, Chris 📷 dxDAO aims to power DeFi protocols through decentralized governance Gnosis launched a long-awaited DEX last week with batched auctions for low-liquidity trade pairs. The front-end, Mesa.Eth.Link is owned and operated by dxDAO, a decentralized collective that hopes to power other DeFi protocols. While dYdX does not have any specific governance plans (yet), this tweet from dYdX founder Antonio Juliano is a common approach to governance. 📷Antonio Juliano @AntonioMJuliano3) 0x should focus less on governance in the short term. It’s way more important to first build something with a large amount of adoption that’s worth governing December 6th 2018 3 Retweets62 Likes The tweet at the end of 2018 was in response to 0x and its native token, ZRX. The project was popular but the token had no use case outside of governance. This governance strategy – build now, decentralize later – is widely accepted in the space and is perhaps best exemplified by the A16Z’s Jesse Walden’s post, “Progressive Decentralization: A Playbook for Building Crypto Applications”, which the A16Z-backed Compound has essentially implemented (more in the section below). dxDAO, on the other hand, maintains that decentralization must come at the beginning or else the core team and investors will have an outsized influence on the project in formal (token voting) or informal ways (dictators for life). Background dxDAO was launched in May 2019, spun out of a collaboration between Gnosis and DAOstack over managing the DutchX platform. dxDAO’s key governance design is separating financial rights to the DAO (DXD) from voting power over the DAO (Reputation). It used an Edgeware-style lock drop to distribute reputation to stakeholders in May of last year. Any user could lock up ETH or an accepted ERC-20 for a month and receive Reputation, which are voting rights in dxDAO, even though it is not a token and cannot be transferred. Over 400 unique Ethereum addresses participated in the distribution scheme. Gnosis went through a pretty extensive process in July 2019 to “step back” from its involvement in the DAO, and since then, the community and dxDAO have aligned behind a mission of “putting the ‘De’ in Decentralized Finance”. Following on last week’s launch of Mesa.ETH.Link, dxDAO is conducting a fundraiser or (“DAICO”?) to help fund its new slate of DeFi products, including a prediction market platform (Omen) and a privacy-centric DeFi dashboard (Mix). Project launch is typically when a project is most centralized. Execution is hard and direction and accountability are important. dxDAO’s approach will be an interesting counterexample to the “decentralize later” trend and may provide insight into new governance strategies. Click here for more information about the dxDAO fundraiser. Here’s what is on the dxDAO docket this week:
There are no explicit plans yet, but the widely held assumption is that the COMP distribution will be determined by the interest earned and paid by users on the protocol since its inception. This is a clever way that only incentivizes more use of the protocol and is hard to game because interests accrues over time. But the question still remains, what will the COMP community look like and what values will it espouse? Can emergent cultures arise out of Silicon Valley too? Here’s what is on the Compound docket this week:
Governance AMA with Compound CEO Robert Leshner - Robert answered a variety of questions on ETH2.0 (staking yield is of great interest), Chainlink (Compound’s oracle system is better), contentious forks (Compound would signal a preference on chain) and how Covid-19 changed his mind about remote work. They also announced…
Proposal: Add USDT Support – announced on the AMA, USDT was approved by Compound users in a poll last September but had yet to be included. The proposal to add the largest stablecoin in the world is the first test for the new governance portal. (Very) notably, the proposal does not allow USDT to be used as collateral, as Compound currently does with wBTC. It’s not clear if Compound wants to be in the largest stablecoin market or not and underscores the governance challenges of straddling both worlds.
Head of Community Rich started off with a new meme for governance: the path from intent to implementation, discussing how forums, polls and other initiatives are designed to capture the intent of the community, and then “empowered people” are tasked with implementing that, foreshadowing upcoming changes.
Half of the call was devoted to the addition of WBTC as collateral with representatives from WBTC, Bitgo and CoinList in attendance. CoinList’s WBTC announcement gives WBTC the type of liquidity needed for Maker’s auctions (“can redeem WBTC in less than 2 minutes and burn less than that”). Most of the discussion revolved around the circular loop from BTC->DAI in times of high volatility. While there was some concern that WBTC liquidity was dependent on acceptance as Maker collateral, most on the call seemed to support the addition. The strongest support seemed to come from the Maker Foundation’s market making team, who is reportedly the largest market maker for WBTC. There’s more in the Maker forum thread.
State of the peg – Vishesh’s overview (graphs can be seen here) showed that the peg had come down to $1.01x area but most of the discussion was around the debt ceiling. At the time of the call it was 4 million away from its 90m debt ceiling. Vishesh advocated for a more programmatic lifting of the debt ceiling. Update: Dai hit the 90m debt ceiling Friday evening ET. Should help the peg.
Single Collateral Dai shutdown – the process has begun. A poll passed with May 12 as the official SCD shutdown. Just yesterday, an executive just passed yesterday to make the MKR oracle fee-less, which will help with migration. Many in the community think the migration of debt from SCD will do more than enough to restore the peg. 13 MIPs and 2 sub proposals – Core to the new Maker governance process is the “Maker Improvement Proposals (MIPs), which are modeled off of BIPs (for Bitcoin) and EIPs (for Ethereum). The two sub-proposals are to appoint the Smart Contracts Team and assign Charles St. Louis as the MIP editor. The 13 MIPs are listed below:
By and large, the MIPs codify many of the informal Maker governance processes. There is currently a request for comments period (MIP forum) and there will be an informal poll on Monday, April 27 on whether to proceed with the 13 MIPs and 2 sub proposals. If it’s a “Yes”, than an executive for an official ratification vote would start on May 1 and lasts for 4 days. If it passes, the official governance cycle will begin and the rest of the MIPs will likely be approved from May 4 – 6. Other Governing Things
Synthetix trials incentivzation program to encourage ETH shorts to balance debt position Link
PieDAO community call on audit and post imBTC actions Link
Coinbase Custody double downs on DeFi governance Link
Terra considers punishing validators that don’t vote Link
0x governance proposal to decrease epoch length to 7 days Link
That’s it! Feedback definitely appreciated. Just hit reply. Written in Brooklyn where it rained all day. No euchre today, but yesterday was epic. Govern This is written byChris Powers. Opinions expressed are my own. All content is for informational purposes and is not intended as investment advice.
Hello, I'm Katie Martin. As you may have read online, I'm the founder and chief investment officer at Vomiting Camel Asset Management, except I'm not. This whole thing has got out of hand. The vomiting camel - A vomiting camel - The vomiting camel. This is how the vomiting camel works. Vomiting camel formation - In the interest of fighting the scourge of fake news, the FT needs to put the record straight. This tale starts with technical analysis, a very serious discipline for very serious people in financial markets, that involves looking at charts, drawing lines on the charts, spotting patterns in the charts, and deciding the patterns mean that the market is heading either up or down. Ah, a head and shoulders pattern, bearish. A death cross, super bearish. And itchy marcu cloud - well, the market must be range bound. A cup and handle formation, now that's bullish. I'm not even joking. So a few years ago I started drawing vomiting camels onto charts - they're bearish, you know - and tweeting them out, just for fun. It's just a joke. To my genuine surprise, some people seem to have taken this a little too seriously. In 2014, CNBC pointed out that a vomiting camel formation had appeared in gold. The camel will then go off the cliff into the splat zone. Now, bitcoin enthusiasts have picked up on that report and they're describing me online as the head of Vomiting Camel Asset Management. They're even teaching people to spot the pattern for themselves. Your first hump of the camel, right - now the second hump. Then it just starts throwing up. The serious lesson here is to take pretty patterns drawing on charts with a bit of a pinch of salt. Personally, I'm wondering how to put the vomit back in the camel. I fear it may be too late.
AMA AT DETECTIVE ID (25/06/2020) Before welcoming any questions, I would like to briefly introduce STATERA PROJECT. Statera is a smart contract deflationary token pegged to a cryptocurrency index fund. By including STA in an index fund with Link, BTC, ETH, and SNX you can buy one token and access the price action of four of the leading cryptocurrencies. You can also invest directly in the index fund (balancer pool) and receive the benefits of fees and BAL tokens paid to you while also having an automatically balanced fund. Lastly the deflationary mechanics of STA increases the chance for positive price action while decreasing beta (volatility). This is all found in a smart contract that is fully decentralized, the founders can no longer augment the contract in any way and this has been confirmed by a third party code audit through Hacken. Q1 : please explain in more detail about Statera, what is the background of this project? and when was it established? The dev of this project had previously created another deflationary token BURN. When the Balancer Labs released the Balancer Protocol, he had an idea to combine the two, deflationary token and a pool of tokens, making the first deflationary index fund. It started in the end of May and on the 3rd iteration, May 29th - a trustless version was launched that we see today. As briefly explained earlier, STATERA or STA is an Index Deflationary Token built on Ethereum blockchain; Index: Contains a token suite of world class leading crypto assests BTC, ETH, LINK, SNX with STA. Deflationary: On every transaction of STA 1% of the transacted amount is sent to 0x address on ethereum, burned forever, thus reducing the circulating supply of STA Index+Deflationary: STA is mixed with BTC, ETH, LINK SNX in a portfolio, backed by liquidity on a protocol known as balancer (balancer.finance) This platform serves as a market maker for the token suit. The Index suite is of equal rate of 20%, that is 20% of BTC, ETH, SNX LINK and STA, Thus, anytime there is an increase in value of any of those coins or tokens, balancer automatically trade them for STA in order to keep the token suit ratio balanced. And anytime there is an increase in the value of STA, the same process applies. while doing this trade, it enables further burning on every transaction, thus facilitating more token scarcity. In addition to this, Statera was deployed with contract finalised, that is, the index suite can not be altered, It is completely out of Dev's control. Q2 : What are the achievements that have been obtained by Statera in 2020? And what goals do you want to achieve in 2020? By this we assume the questionnaire is asking for a roadmap! First, the project is barely a month old, and within just a month, our liquidity has grown from $50,000 to over $400,000 currently above $300,000. Among the things we have accomplished so far is the creation of market value for STA's Balancer liquidity pool token BPT, which is currently over $1000 per one BPT. Regarding what we set to achieve: The future is filled with many opportunities and potentials, currently, we are working on a massive campaign to introduce our product to the outside world. We have already made contact with different and reputable forums and channels regarding marketing and advertisement offers, some which we are currently negotiating, some which we are awaiting response. All we can say for now is that the Team is working hard to make this the Investment opportunity every crypto enthusiast has been waiting for. Statera has the goal of putting cryptocurrency into every portfolio. We believe we have a product that increases the returns of investing in cryptocurrencies and makes it easier to diversify in this space. We have done so much in June: articles, how to videos, completed the audit, tech upgrades like one token liquidity additions, and beginning our many social communities. We have been hard at work behind the scenes but things like sponsorships, features, and media take time, content makers need days if not weeks to develop content, especially the best of the best. We are working tirelessly, we will not disappoint. We have plans for 2020-2025 and will release those in the next month. They are big and bold, you’re going to be impressed by the scale of our vision, when we say “Cryptocurrency in every portfolio” we mean it. In 2020 more specifically we are focused on more media, videos, product offerings, and exchanges. Q3 : What is the purpose of STA token? How can we get STA? The purpose of STA is an investment in the first deflationary index fund. The whole index's value rises from these aspects: 1. The index funds (WBTC,WETH,SNX,LINK) appreciate in value 2. When the index tokens are traded, the pool receives transaction fees - 1% 3. STA burns on transactions, so it's deflationary nature increases its value as the total supply drops 4. Balancer rewards Index holders with BAL token airdrops every week You can invest via the 'Trade' links in stateraproject.com website. Easiest way is to do it using ETH. The monetary policy of our token is set in stone and constantly deflationary. This negative supply pressure is a powerful mechanism in economics and price discovery. Through the lowering of supply we can decrease your beta (volatility) and increase your alpha (gains). Our token is currently only top 40 in liquidity on Balancer, however our volume is top 10! You want to know why? Because Statera works. Statera increases arbitrage, volume, fees, BAL rewards, and liquidity. Our liquidity miners in our Balancer pool are already making some of the highest BAL rewards on the platform, one user we spoke with made 18% in June, that’s over 150% APY! Our product is working, 100% (or you could say 150%), and when people start to see that, and realize the value, the sky's the limit. Q4 : can we as a user do STA mining? The supply of STA doesn't increase anymore, it only decreases due to the burn feature. So there is no way to mine anymore STA. Only way to acquire the tokens is via an exchange. The monetary policy of our token is set in stone and constantly deflationary. This negative supply pressure is a powerful mechanism in economics and price discovery. Through the lowering of supply we can decrease your beta (volatility) and increase your alpha (gains). Our token is currently only top 40 in liquidity on Balancer, however our volume is top 10! You want to know why? Because Statera works. Statera increases arbitrage, volume, fees, BAL rewards, and liquidity. Our liquidity miners in our Balancer pool are already making some of the highest BAL rewards on the platform, one user we spoke with made 18% in June, that’s over 150% APY! Our product is working, 100% (or you could say 150%), and when people start to see that, and realize the value, the sky's the limit. Q5 : The ecosystem of a public chain has a lot to do with the level of engagement and participation of third-party developers. How does Statera support the developers? Not really. Our project is focusing on investment opportunities for the cryptocurrencies. The cryptocurrency tokens that are not used and are just sitting in a wallet can work for you by being added to an index fund and appreciate in value over time. First off, what we have created is a new asset class, I’ll repeat that, a new asset class. This asset has never existed: “Deflationary Index Fund,” what does that mean for finance? What will developers do with this? It’s hard to give a finite answer. We hope there are future economic papers on our token and what it means to be a deflationary index fund. With the addition of synthetic assets and oracles you can put any asset into the DeFi space: Gold, Nikkei 225, USD, etc. STA can be combined with any assets and bring the benefits of it’s ecosystem and deflationary mechanism to that asset. STA, the token itself, also gives you access to the price action of any asset it is paired with. Put simply STA’s balancer pool(s) give you a benefit in holding them, and STA’s price will reflect it’s inclusion in Balancer Pool(s) (and possibly future financial instruments), so STA is a bet on DeFi as a whole. When we say as whole, we mean as whole: what happens if you include STA in a crypto loan, or package it with a synthetic S&P 500 token, or use it as fee payment in a DeFi platform? Being fully decentralized it is up to our community to make this happen, social engagement and community are key. We are constantly bringing community members onto our team and rewarding those that benefit the ecosystem. in addition, Statera is a fully community project now. Paul who is the current team leader was an ordinary member of the community weeks ago, due to his interest and support for the project, he started dedicating his time to the project. Quite a number of community members are also in the same position, while Statera was developed by an individual, it is being built by the entire Statera community Community Questions (Twitter): Q1 From: @KazimKara35 The project tells us that the acquisition and sale of data between participants is protected by code of conduct and how safe is deployed on the blockchain, but how do you handle regulations while operating on a global scale? Statera is decentralized token, similar to other utility crypto tokens and same regulations apply to it as others. his is actually a benefit of our decentralized nature. This isn’t legal advice, however in the past regulating bodies have ruled that the more decentralized a project is, especially from launch, the less likely they are to be deemed a security (see: Ethereum). This means they can be traded more freely and be available on more platforms. We are as decentralized as you can be. The data itself is all secured through the blockchain which has been shown to be a highly secure medium. We do not store any of your data and as long as you follow best practices in blockchain security there are no added security risks of using Statera. We don’t, and literally can’t, hold anymore personal information than is made available in any blockchain transaction. and that "personal information" is more likely than not just your ethereum wallet address, no "real world" data is included in transactions Q2 from: @Michael_NGT353 What is Mechanism you use On your Project sir? Are you Use PoS,PoW or other Mechanism Can you explain why you use it and what is Make it Different? Our token is an ERC-20 token and it's running on the Ethereum blockchain. The Ethereum's POW mechanism is currently supporting the Statera token We run on Ethereum, so we are currently PoW. With ETH 2.0 we will hopefully be PoS this year (hopefully). We use it because ETH has over 100 million addresses and around a million daily transactions. We are currently at about 1,900 token holders, we are just touching the edge of what is possible in this market. We chose the biggest and the best network available right now to launch our product. We think the upside is huge because of this choice. Being the biggest network it is also one of the most secure, no high risk vulnerabilities have been found in Ethereum or in our code (we've had our code audited by a third party, Hacken, and you can read their audit on our Medium page), so we also have security on our side Q3 From : @Ryaaan_Nguyen Can you list some of Statera outstanding features for everyone here to know about? What are the products that Statera is focusing on developing? As mentioned earlier by GC, First off, what we have created is a new asset class, I’ll repeat that, a new asset class. This asset has never existed: “Deflationary Index Fund,” what does that mean for finance? What will developers do with this? It’s hard to give a finite answer. We hope there are future economic papers on our token and what it means to be a deflationary index fund. With the addition of synthetic assets and oracles you can put any asset into the DeFi space: Gold, Nikkei 225, USD, etc. STA can be combined with any assets and bring the benefits of it’s ecosystem and deflationary mechanism to that asset. STA, the token itself, also gives you access to the price action of any asset it is paired with. Put simply STA’s balancer pool(s) give you a benefit in holding them, and STA’s price will reflect it’s inclusion in Balancer Pool(s) (and possibly future financial instruments), so STA is a bet on DeFi as a whole. When we say as whole, we mean as whole: what happens if you include STA in a crypto loan, or package it with a synthetic S&P 500 token, or use it as fee payment in a DeFi platform? We touched on this a bit in the question on what makes us special compared to other exchanges. We have created a product that synergizes with Balancer Pools creating a symbiotic relationship that improves the outcomes for users (our product can also synergize with future DeFi products). By including STA in an index fund with Link, BTC, ETH, and SNX you can buy one token and access the price action of four of the leading cryptocurrencies. You can also invest directly in the index fund (balancer pool) and receive the benefits of fees and BAL tokens paid to you while also having an automatically balanced portfolio (like an index fund with dividends). Lastly, the deflationary mechanics of STA increases the chance for positive price action while decreasing beta. We want to package Statera with assets across the whole cryptocurrency space, with an emphasis on DeFi. We also want everyday people to be able to invest quickly in crypto while also feeling reassured their investment is set up to succeed. We are focused on developing a name brand that people go to first and foremost when investing in crypto: cryptocurrency in every portfolio. This is all found in a smart contract that is fully decentralized, the founders can no longer augment the contract in any way and this has been confirmed by the third party code audit. This is a feature in and of itself, some argue that Bitcoin’s true value is in it’s network effect, first mover advantage, and immutability. Statera is modeled on all three of those and has those features in spades. The community now owns our token, the power in that, giving finance and power to the people, is why we are here. Q4 From : @futcek What do you think about the possibility of creating new use cases in DeFi space for existing real world assets by using crypto technology? What role do you see in this creation for Statera? I think my answer above actually answers this perfectly, Statera in and of itself is a “new use case”, a “deflationary index fund” has never existed, I’ll copy and paste the other relevant part: “With the addition of synthetic assets and oracles you can put any asset into the DeFi space: Gold, Nikkei 225, USD, etc. STA can be combined with any assets and bring the benefits of it’s ecosystem and deflationary mechanism to that asset. STA, the token itself, also gives you access to the price action of any asset it is paired with. Put simply STA’s balancer pool(s) give you a benefit in holding them, and STA’s price will reflect it’s inclusion in Balancer Pool(s) (and possibly future financial instruments), so STA is a bet on DeFi as a whole. When we say as whole, we mean as whole: what happens if you include STA in a crypto loan, or package it with a synthetic S&P 500 token, or use it as fee payment in a DeFi platform? Being fully decentralized it is up to our community to make this happen, social engagement and community are key. We are constantly bringing community members onto our team and rewarding those that benefit the ecosystem.” Statera is a way to make your investment more successful, and owning Statera let's you benefit from other people using it to make their investments more successful (a self feeding cycle). Q5 From : @Carmenzamorag Statera's deflationary system is based in that with every transaction 1% of the amount is destroyed, would this lead to lack of supply and liquidity in the long term future? How would that be fixed? The curve of supply is asymptote, meaning that it will never reach zero. The idea is that the deflationary process will slowly decrease the supply of STA, which – combined with a fixed or increaseing demand – will result in STA appreciating in value. Evidently, as the STA token increases in value, the amounts of STA being traded will slowly decrease: The typical investor might buy 10.000 STA at the current rate, but in the future (proportional to an increase in the valueation of STA) this number will tend to decrease, hence the future investor might only buy 1000 STA. This of course results in less STA being burned. Additionally, STA is divisible to the 18th decimal, why – even if the supply was to reach 1 STA – there would be a sufficient supply. Well this would be a question for a Mathematician, and luckily we’re loaded with them (as seen above)! I’ll try to illustrate with an example. 1% of 100 million is 1 million, 1% of 10 million is 100,000. As we go down in supply the burn is less by volume. What also happens at lower supply is higher prices (supply and demand economics). So those 1 million tokens burned may be worth $20,000, but by the time overall supply is at 10 million those 100,000 tokens may also be worth $20,000 or even more. This means you transact “less”, if you want to buy 1 Ether now with Statera you need 8,900 STA which would burn 89 tokens. If Statera is worth $100 you only need 2.32 statera (.023 tokens burned). Along with this proportional and relative burn decrease, tokens are 18 decimals long, so even when we get to 1 token left (which mathematically would take decades if not centuries, but that is wholly dependent on usage), you are still left with 10 to the 18th power, or one quintillion “tokens”. So it’s going to take us a while to have supply issues :) Nuked Phase (3rd Part) Q) What is your VISION and Mission? Our working mission and vision: Mission: Provide every investor with simple and effective ways to invest in cryptocurrency. Decrease volatility and increase positive price pressure in cryptocurrency investments. Lower the barrier to entry for more advanced investment tools. Be a community focused and community driven cryptocurrency, fully decentralized by every meaning of the word. Vision: We aspire to put “cryptocurrency in every portfolio”. We envision a world where finance is given back to the people and wealth building strategies withheld only for affluent individuals are given to all. We also strive to create an investment environment based on sound monetary policy and all the power that comes with a sound asset. Q) What are the benefits of STA for its investors in long term? Does STA have Afrika as an important area for its expansion? We have ties to Africa and see Statera as a way for anyone and everyone to invest in cryptocurrency. The small marketcap of statera makes it's price low and it's upside massive. Right now if you wanted to be exposed to the price action of four cryptocurrencies (BTC, ETH, Link, SNX) Statera is a way to gain that exposure in a way that has a huge upside, compared to the other four assets, there are risks in investing in any small cap but with those risk come outsized rewards (not investment advice and all answers are solely my opinions 😊) Q) In the long run, why should we trust and follow STATERA? How do you raise awareness and elimination of the doubts of investors / partners / customers?. You're really asking "How do I trust myself and other crypto investors" The project is FULLY decentralized, it is now in the hands of the community. We would venture a guess that the community wants their investment to succeed and be worth more in the future, so you are betting on people. wanting to make themselves money on their own investment. This is a pretty sure bet. The community being active and engaged is key, and we have short term and long term plans to ensure this happens Q) No one can doubt the strength of #Statera. But can you tell us some of the challenges and difficulties you're presently facing? How can you possibly overcome them? We're swinging outside our weightclass, we don't see litecoin or SNX, or any other crypto product as our competition. Our competition is NASDAQ, Fidelity, etc. We want to provide world class financial instruments that only the wealthy have access to in the traditional world to everyone. Providing liquidity, risk parity, being paid to provide liquidity, unique value propositions, are all things we want to bring to everyone. However we are coming up in a hectic space, everyday their is fud and defamation on the web, but that is the sandbox we chose to play in and we aren't grabbing our ball and going home. We can tell you that we will not disappoint and fighting all the fud that comes along with being a small and upstart project only fuel our fire. Building legitimacy is our largest challenge and looking at our audit, financial report, and some things you will see in the coming weeks, we hope you see we are facing those challenges head on. Q) What is the actual uniqueness of #Statera.??? Can you guys please explain tha advantages of #Statera over other projects.?? When we launched there were no other products like ours. There are now copies, and we wish them the best, but we have the best product, hands down. Over the next couple weeks this will become apparent, if it hasn't already, also a lot of the AMA answers dug deeper into our unique value proposition, especially the benefits we provide to Balancer Pools which shows the benefits we would provide for any index fund. We are a tool to improve cryptocurrency investing Q) Fragmentation, layering and cross-chain are three future solutions for high-performance blockchains. Where is Statera currently? What are the main reasons for taking this direction? We operate on the Ethereum chain, as it upgrades our services and usability will upgrade. We are working on UI and more user friendly systems to onboard people into our ecosystem Q) How STATERA plan to make room and make this project known in the world of crypto, full of technology and full of new projects very good in today's market? We think we have a truly innovative product, which - when first understood - appeals to most investors. Whether you want a high-volatility/medium-risk token like STA or whether you are more conservative and simply just plan on adding to the Statera pool BPT (which is not nearly as volatile but still offers great returns). We plan on making Statera known to the crypto world through a marketing campaign which slowly will be unravelled in the comming days and weeks. If interested, you can check out an analysis of the different investment options in the Statera ecosystem in our first financial report: https://medium.com/@stateraproject/statera-financial-reports-b47defb58a18 Q) Hello, cryptocurrencies are very volatile and follow bitcoin ... and does this apply to Statera? or is there some other logic present in some way? is statera token different from a current token? Are you working on listings on other exchanges? Currently uniswap is somewhat uncomfortable for fees. We are also on bamboo relay, saturn network, and mesa. Statera will be volatile like all cryptocurrency, this is a small and nascent space. But with the deflationary mechanic and balancer pool, over time, as marketcap grows it will become less volatile and more positively reactive to price. Q) Security is one of the most essential characteristics for a project to get reputation. How can #Statera Team assure to their community that users assets and investments will stay safe from unwanted agents? We have been third party audited by the same company that worked with VeChain to audit their code. Our code has been shown to be bulletproof. Unless Ethereum comes up with a fatal security flaw there is nothing that can happen to our contract (there is no backdoor, no way for anyone to edit or adjust the smart contract). Q) Many investors see the project from the price of the coin. Can you give us advantages why Statera is so suitable for long-term investment? and what makes Statera different from other similar projects? Sometimes the simplest solutions are the most effective. A question you can ask is “What if this fails”? But you can also ask, “What if this succeeds”? Cryptocurrency is filled with asymmetric risks, we think if you look into the value proposition you will find that there is a huge asymmetric risk/reward in Statera, and we will make that even clearer in our soon to be released litepaper. You are on the ground floor of a simple but highly effective solution to onboarding people into defi, cryptocurrencies, and investing. Our product reduces volatility and increases gains (decreases beta and increases alpha in investor terms), which is highly attractive in any investment. The down side is there but the upside outweighs it exponentially (asymmetric risk) Q) What your plans in place for global expansion, are Statera focusing on only market at this time? Or focus on building and developing or getting customers and users, or partnerships? Can you explain this? We have reached out to influencers in other countries and things are in the works. We have also translated documents and are working on having them in at least 4 languages by the end of July. We were founded globally, our team is global, and we are focused on reaching all 7 billion people. Q) Now in the cryptofield everyday there are new projects joining in the Blockchain space. They are upgraded, Well-established and coming up with innovative technology. How Statera going to compete with them? What do you think, one day Statera will become useless And will be lost into the abyss of time for not bringing any new technology? We are the first of our kind, no one had a deflationary index fund before us. Index funds will be the future of crypto (look at the popularity of etfs and indexes in the traditional markets). We are a tool to make your index function better and pay you more. As long as people care about crypto index funds they will care about the value STA brings to that. We have an involved and long term plan to reach dominance over a 5 year span, this is not a flash in the pan, big things coming Q1. You say that the weight and proportions of your tokens are constant. So how have you managed to prevent market price speculation from generating hypervolability in your token price? Do you consider yourselves a kind of stablecoin? Q2. How many jurisdictions allow the use of Stratera products and services? Are they available for Latin America? @joloroeowo The balancer ensures an equal ratio of 20% amongst the five tokens included in our fund. This, however, does not imply that the tokens are stable. Rather, the Balancer protocol helps mitigating price fluctuations. Q) How can I as a Statera participant participate in liquidity mining, and receive BAL as reward? What are the use cases of $STA token, and how are users motivated to buy and hold long term? The easiest way is to go to stateratoken.com and click trade then BPT. You can also buy all five tokens and click on portfolio then add liquidity. Balancer is working on a simpler interface to add liquidity with one token, we are waiting on them. I think we explained the use cases above Q) What do you plan have for global expansion, is Statera currently focused solely on the market? Or is it focused on building and developing or acquiring customer and user or partnership relationships? Can you explain it? We are currently working on promoting the project and further develope our product, making it lucrative for more new investors to join our pool and invest in the STA token. Q1) Statera have 2 types of tokens, so can you tell me the differences between STA and STAC ? What are their uses cases? Is possible Swap between them? Q2) Currently the only possible Swap or "exchange" possible is Uniswap, so you do have plans to list the STA token into a more Exchanges? STAC is obsolete, we only have STA and BPT (go to our website and click on trade) stateratoken.com BPT gives you more diversification and less risk, STA gives you more volatility and more chance for big gains. Q2 we are on multiple exchanges (4), bamboo relay, saturn, and mesa we do have plans for future exchanges but the big ones have processes and hoops to jump through that can't be done so quickly Q) What business scenarios can STATERA support now? In which industries can we see the mass adoption of STATERA technology in the near future? Statera increases the effectiveness of your cryptocurrency investments. Specifically it makes cryptocurrency index funds function better, netting you higher returns, which we have already seen in just one month of implementation. Right now, today, you can buy our BPT token and increase the functionality of holding a crypto index fund. In the future we want every single web user to see and use our product Q) Do you plan to migrate to other platforms like Tron, BinanceChain, EOS, etc. if it is feasible?? Migrating our current contract is not. Starting new offerings on those other chains could be possible, they aren't on our radar currently but if the community requests them we are driven by our community Q) ETH Blockchain is a Blockchain have many token based in it, i have used ETH blockchain long time and i see it have big fee and need much time to make a transcation so Why you choose to based STA in ETH blockchain not other like Bep2 or Trc20 ? Simply: 100 million addresses, 1 million transactions a day. The more users we have the more we will benefit our community. We hope ETH 2.0 scaling will fix the problems you mention. Q) No one achieve anything of value on its own, please can you share about Statera present and future partnerships that will drive you to success in this highly congested crypto space? We have a unique product that no one else has (there are people who have copied us). We can't announce our current and future partnerships yet, but they will be released soon. Our future hopes of partnerships are big and will be key to our future, know we are focused on making big partnerships, some you may not even be thinking about. Q) According to the fact that your algorithm causes 1% of each transaction to be destroyed, I would like to know, then, how you plan to finance yourself as a project in the long term? The project is now in the hands of the community and we are a team of passionate people volunteering to help promote and develope the Statera ecosystem. But then, how do we afford running a promo campaign? We have lots of great community members donating funds that goes to promoting the project. In other words, the community helps financing the project. And so far, we have created a fantastic community consisting of passionate and well-educated people! Q) There are many cryptocurrency startups were established by talent teams, but they got problem in raising capital via token sales due to many factors as bear market, bankrupt etc. This leaded their potential startups fail. So how will Statera break these barriers and attract more funds from outside crypto space? We are community focused and community ran. When you look at centralized cryptocurrencies you can see the negative of them (Tron, ADA, etc.) We believe being fully decentralized is the true power position. You the owner of statera can affect our future and must affect our future. This direct ownership means people need to mobilize and organize to push us forward, and it is in their best self interest to do so. It's a bet on our community, we're excited about that bet Q) What business scenarios can STATERA support now? In which industries can we see the mass adoption of STATERA technology in the near future? Statera increases the effectiveness of your cryptocurrency investments. Specifically it makes cryptocurrency index funds function better, netting you higher returns, which we have already seen in just one month of implementation. Right now, today, you can buy our BPT token and increase the functionality of holding a crypto index fund. In the future we want every single web user to see and use our product Q) Why being a hybrid of a liquidity pool and an index fund? What are the main benefits about this? By being a liquidity pool the exchange side of the pool (balancer also functions as an exchange) gives you added liquidity for more effortless, effective, and cheaper rebalancing. You also benefit from getting paid the fee when people use the exchange AND getting paid BAL tokens that are worth $15-20 USD. These are not benefits you get with an index fund, meanwhile the liquidity pool rebalances just like an index fund would Q) Which specific about technology and strategy of #STA that make you believe it will be successful and what does #STA plan do to attract more users in the upcoming time? I think the idea behind Statera is truly ingenious. We have made an index fund, which investors are highly(!) incentivised to invest in, namely because the ROI, so far, has been huge. An increase in the pool liquidity (index fund) indirectly translates into an increase in the price of STA, why we think the STA token - combined with its deflationary nature - will increase in the long run. The mechanism behind this is somewhat complex, but to better get an understanding of it, I suggest you visit our medium page and read more about the project: https://medium.com/@stateraproject
Wife of Norwegian billionaire has been missing since Oct. 31st 2018. She is presumed kidnapped and/or killed. There was a ransom note left at the crime scene, demanding 9 million Euros in crypto currency. What happened to Anne-Elisabeth Hagen?
So.. I have been waiting for months for someone to write about this case here, and since no one has I suppose I’ll have to give it a shot. This is my first reddit post so mishaps are bound to happen, English is not my first language, apologies for any mistakes, etc… (is this a meme yet?) Edit: wow, holy crap! I didn't expect to be given gold! Thank you kind stranger! Edit: I have added more to the bottom of this post to clear up some confusion or add more important information that I missed the first time. Anne-Elisabeth Falkevik Hagen (68) is the wife of Norwegian billionaire Tom Hagen, an investor and co-founder of a company called Elkraft. They married young, only 19 years old, before Hagen made his fortune. Although Hagen is now one of Norway’s richest people, the 172nd richest according to financial magazine Kapital, he and his wife have seemingly led unassuming, quiet lives. From an outsiders perspective they seem like the kind of billionaires you could only hope to be if you ever found yourself in such financial luck, grounded and down to earth, living in the same house for almost 40 years, in a suburb of Oslo called Lørenskog. Tom drives a simple Citroën car. They are parents and grandparents. You would never look at them and think "ah, rich people!". Their house looks like any suburban Norwegian home, there’s nothing flashy or noteworthy about it. No extra security surrounding the area either. There are no gated communities in Norway, but there are still security measures one can take, and probably should take if you’re that rich, and the fact that they hadn’t might have been one of the reasons Anne-Elisabeth was targeted. This case reads more like a Hollywood movie than an actual crime case to me, because we don’t really have crime like this in Norway. The police kept the alleged kidnapping a secret until January 9th. Since then little pieces of information have come out or developments have happened in the case, but Anne-Elisabeth is still missing. The police now presumes she has been killed, perhaps even on the day she disappeared. Her family, who speaks to the media through their lawyer, still holds out hope that she might be alive. I’ll try to keep everything precise and easy to follow:
In the end of July 2018 Dagens Næringsliv (Norwegian newspaper specializing in business news) publish an article about Tom Hagen and how he had earned 174 million NOK the previous year. Police theorize that this might have kick-started this whole operation…
On October 31st Tom Hagen leaves for work around 09:00am. He arrives around 10-15 minutes later.
At 09:14am Anne-Elisabeth has a phone conversation with a family member (early reports said this conversation was with her husband Tom Hagen, but Norwegian media has since changed this to “family member”. Not sure why. If this phone conversation was indeed with Hagen, he must have just arrived at work). Anne-Elisabeth is alone with their new puppy in their house.
Only a short while later, at 09:48am electrician and neighbor Tommy Skansen calls Anne-Elisabeth's cell phone. A few weeks earlier she had asked him to switch out some light fixtures in her kitchen and he was calling about this. She doesn’t pick up. He finds it odd that she doesn’t answer, as this is unlike her. More people try calling her this day but the last anyone heard from her was at 9:14am where she either talked to her husband or some other family member. Like I said, it’s unclear who this person on the phone with her was.
01:30pm Tom Hagen arrives home from work, earlier than usual. He immediately notices something is off. Just inside the door there are numerous of Anne-Elisabeth’s belongings laying on a chair. There’s also a long letter, written in broken Norwegian. On the floor he finds a cable tie. The puppy is found locked up in a room.The letter is a ransom note, demanding 9 million Euros in crypto currency Monero. If he doesn’t pay up, a video of his wife being killed will be posted online. The ransom note also says the family is being watched, and his wife’s life is in danger should he contact the police. There are instructions on how to buy Monero included in the letter.
02:07pm Tom Hagen contacts the police in spite of the threats in the ransom note. The police meet with him secretly in a gas station shortly after.
November Because of the threats in the letter, the police can’t go out with any information regarding Anne-Elisabeth’s disappearance. They have to work very carefully and quietly in their home to secure evidence from the crime scene. KRIPOS (The National Criminal Investigation Service) and ØKOKRIM (National Authority for Investigation and Prosecution of Economic and Environmental Crime in Norway) get involved. The police finds traces of Anne-Elisabeths blood inside the house, as well as a shoe print. It is unclear whether or not the blood was from the day of the disappearance. The amount of blood found is reportedly “not unusual” because she lived there, which I take to mean it was very little. Tom Hagen continues to go to work, people describe him as unsociable and desolate during this period. Neighbors are told Anne-Elisabeth is “away”, and family members are kept in the dark as well. At the end of November family members are starting to feel like something is going on. Finally they find out that Anne-Elisabeth is missing, and there are talks of a kidnapping. No one is allowed to say anything. December The investigation is still top secret. January 9th The police finally allow the media to talk about the case. Norwegian media have known about it for a long time but have been told not to say anything yet. The apparent kidnapping is announced in a press conference after 10 weeks of utmost secrecy. A few days after the press conference, the police releases a video of the area around Tom Hagen's workplace. A man can be seen walking down the road next to Tom’s place of work at 7:36am on the morning of the crime. He then abruptly stops and turns around to walk back the same way from where he came. 24 minutes later, another man can be seen walking down the same way. He is passed by a cyclist, who has been identified. The two other men have never come forward. It has been theorised that these two men might have been a look-out of sorts. January 16th The family receives a new message from the person or people who claim to have Anne-Elisabeth. This message is recieved through crypto currency (bitcoin this time). I’m not quite sure how this works, but from what I’ve read it’s a difficult and insufficient way to communicate. January 27th The family again is in communication with the alleged kidnappers. Some people find it curious at this point that these alleged kidnappers have been unwilling to communicate with the family during the ten weeks of secrecy, but now that the world knows, they are willing to talk. Who is behind this, exactly? Professional criminals who saw an opportunity after the article in Dagens Næringsliv was published and they realised the man in question lives completely unprotected? A family member? Enemies of Tom Hagen? Could it be Tom himself? Who would want to hurt this woman? Rumours are spreading. February The police advice the family not to pay the ransom unless they receive evidence of Anne-Elisabeth’s well-being. This is stressed in every press conference, both in Norwegian and English. The family is hopeful that proof will now be provided, seeing as the alleged kidnappers are now willing to talk, albeit very little. However, they receive nothing. The police interviews a lot of people, including business partners of Tom’s. April After a long Norwegian winter, the police wants to search the lake right next to Tom and Anne-Elisabeth’s house. They employ a police dog specialized in search in water (the same dog who helped in the Kim Wall case). It’s unclear whether or not they actually find anything during this search. Certainly no body or anything like that. May The family decides to attempt contacting the alleged kidnappers themselves. They haven’t heard anything at all since January 27th. No evidence of Anne-Elisabeth’s well-being has been provided, and none is provided this time either. June The police officially changes their main hypothesis. They now believe Anne-Elisabeth was murdered, and not kidnapped for financial gain. They believe the ransom note as well as any evidence found in the house might have been staged to look like a kidnapping. More surprisingly, the police officially cancels any further search of the two men seen in the surveillance video outside of Tom Hagen’s work the morning of Anne-Elisabeth’s disappearance. They still have not been identified and it is unknown why the police now believes them not to be involved. July 8th The family lawyer Svein Holden receives an e-mail from the dark web. It is written in Norwegian, and the writing style suggests that it may have been written by the same person who penned the ransom note. According to Svein Holden this e-mail contains information that only a perpetrator would know. The message of this e-mail is as follows: in order to receive evidence of Anne-Elisabeth being alive, the family has to pay. It is again commented on by outsiders how odd it is that this message is received now, five months after the previous one, and right after the police changed their main hypothesis. Tom Hagen decides to pay 1.3 million Euros in crypto currency. He receives nothing in return. August The shoe print found at the crime scene is sent for analysis to police all over Europe. German police finds out that the print belongs to a shoe by the brand Sprox, and is in European size 45. It is sold in Norway at Sparkjøp. The police now requests help from the public, and everyone who have purchased these shoes in cash is encouraged to come forward. September The cable tie left at the crime scene has been analysed and has been found to be produced in China and sold in Norway at Biltema. Both Biltema and Sparkjøp are fairly common stores in Norway. October The police have now also analysed the paper the ransom note was written on and the envelope it came in. It was purchased at Clas Ohlson, another common store in Norway. All three stores tied to this case are located in Romerike, the district in which Tom and Anne-Elisabeth Hagen lives. It’s closing in on a year since Anne-Elisabeth disappeared without a trace. The entire country is awaiting answers. The 25th of October would have been Tom and Anne-Elisabeth’s Golden wedding anniversary. On Thursday the 31st, 365 days have passed since this all happened. But it is not a Halloween tale, it is real life. What happened to her? Where is she? Could she still be alive after all this time? Edited to add more information or clear up some confusing things:
Some people were wondering who the last person to see her alive besides her husband was. The night before the disappearance, Tom and Anne-Elisabeth were in Oslo with a couple of friends to see THE BOOK OF MORMON. They came home late. The show ended at 10:30pm and they had to drive home to Lørenskog. According to Google Maps, the drive from The Norwegian Theater, which is were the show was, to Lørenskog is 22 minutes. These friends are the last ones to see her alive besides Tom (and a possible perpetrator).
When neighbors found out that Anne-Elisabeth was possibly kidnapped one of them came forward with information about a grey/silver SUV. He describes a car taking a “weird shortcut” over a patch of grass towards Tom and Anne-Elisabeth’s house on the morning of her disappearance. It was the police’s main hypothesis for a while that she had been kidnapped in this car. Since then they’ve changed their hypothesis but this car could still be interesting! Can’t believe I forgot to add this piece of information!!!
The police has DNA on file, it is unknown whether or not this is a partial or full DNA profile. One man described as a witness was asked to deliver a sample. They have requested this from many people, presumably also Tom. The man described as a witness was also checked against the shoe print. As far as I can tell he’s been compliant. He had been inside their home. Possibly a colleague, friend or a neighbor.
Some confusion about the use of the word BILLIONAIRE. It is true that Tom Hagen would not be considered a billionaire when you convert his money to USD. However, Tom Hagen is a Norwegian Milliardær and Milliardær is the Norwegian word for Billionaire. Being a Billionaire means having at least one billion units of a currency, in this case this currency is Norwegian Kroner (NOK). See this link for more. International media as well as Norwegian media writing in English have also used the word billionaire in their articles about the case. I’m not saying Tom Hagen is the Norwegian Bill Gates, but I’m saying he’s rich. Hope that clears things up.
One user is posting comments saying that they are from the area and there are rumours about Tom Hagen being involved with someone else. While this is very juicy information and a huge motive for a possible killing, please take this information with a grain of salt as there is no official reports on this and village rumours could be untrue anyway. If this is true the police already knows about it, and it is likely the media is also privy to this information and are choosing to withhold it by request from the Police.
Some confusion about this phone call the morning of the disappearance as well. The police does know who Anne-Elisabeth spoke to that morning, the public, however, does not. Early reports said that this person was Tom, her husband, but this has since been changed to “family member”. It is unclear why this is, it could be that the first information was wrong and they had to correct themselves, or it could be that the police would prefer this information to stay secret. Of course, nothing is deleted on the internet and you can still find articles in Norwegian saying the person on the phone was Tom.
Continuing from that: Norwegian media is very good at respecting the Police and should they request this from them, the media would comply. This is why I believe it’s possible that they are hiding information about a possible motive on the husband’s part. They have no interest in ruining police work. The media is generally well regarded in Norway and have ethical guidelines to follow.
A lof of questions about "why didn't he just pay the ransom?" "he must be the perpetrator or he would've paid the ransom immediately!"Well, no. It's not that simple. In a ransom case like this one, police STRONGLY advise against paying. If you pay, you have nothing left to negotiate with. If Anne-Elisabeth was even still alive at this point, what's to say they'll let her go once the ransom has been paid? It has been implied by the family lawyer that the family would've been willing to pay if the alleged kidnappers showed them evidence of Anne-Elisabeth being alive, in form of photos or a video or something to that effect. It's a risky move, paying a ransom. On one hand, you're worried about your family member and you want them back and you'd be willing to pay anything in order to do so, on the other hand, you're scared what might happen once you pay. There's no easy way to deal with a situation like this.
CryptoDiffer teamHello, everyone!We are glad to meet here:Max Freeman (@maxfreeman4), Project Lead at Epic CashYoga Dude (@Yogadude), PR&Marketing at Epic CashXenolink (@Xenolink), Advisor at Epic Cash Max Freeman Project Lead at Epic Cash Thanks Max, we are excited to be here! Yoga Dude PR&Marketing at Epic Cash Hello Everyone! Thank you for having us here! Xenolink Advisor at Epic Cash Thank you to the CryptoDiffer team and CryptoDiffer community for hosting us! CryptoDiffer teamLet`s start from the first introduction question:Q1: Can you introduce yourself to the community? What is your background and how did you join Epic Cash? Yoga Dude PR&Marketing at Epic Cash Hello! My background is Marketing and Business Development, I’ve been in crypto since 2011 started with Bitcoin, then Monero in 2014, Ethereum in 2015 and at some point Doge for fun and profit. I joined Epic Cash team in September 2019 handling PR and Marketing. I saw in Epic Cash what was missing in my previous cryptos — things that were missing in Bitcoin and Monero especially. Xenolink Advisor at Epic Cash Hello Cryptodiffer Community, I am not an original co-founder nor am I a developer for the Epic Cash project. I am however a community member that is involved in helping scale this project to higher levels. One of the many beauties of Epic Cash is that every single member in the community has the opportunity to be part of EPIC’s team, it can be from development all the way to content producing. Epic Cash is a community driven project. The true Core Team of Epic Cash is our community. I believe a community that is the Core Team is truly powerful. EPIC Cash has one of the freshest and strongest communities I have seen in quite a while. Which is one of the reasons why I became involved in this project. Epic displayed some of the most self community produced content I have seen in a project. I’m actually a doctor of medicine but in terms of my experience in crypto, I have been involved in the industry since 2012 beginning with mining Litecoin. Since then I have been doing deep dive analysis on different projects, investing, and building a network in crypto that I will utilize to help connect and scale Epic in every way I can. To give some credit to those people in my network that have been a part of helping give Epic exposure, I would like to give a special thanks to u/Tetsugan and u/Saurabhblr. Tetsugan has been doing a lot of work for the Japanese community to penetrate the Japanese market, and Japan has already developed a growing interest in Epic. Daku Sarabh the owner and creator of Crypto Daku Robinhooders, I would like to thank him and his community for giving us one of our first large AMA’s, which he has supported our project early and given us a free AMA. Many more to thank but can’t be disclosed. Also thank you to all the Epic Community leaders, developers, and Content producers! Max Freeman Project Lead at Epic Cash I’m Max Freeman, which stands for “Maximum Freedom for Mankind”. I started working on the ideas that would become Epic in 2018. I fell in love with Bitcoin in 2017 but realized that it needs privacy at the base layer, fungibility, better scalability in order to go to the next level. CryptoDiffer team Really interesting backgrounds I must admit, pleasure to see the team that clearly has one vision of the project by being completely decentralized:) Q2: Can you briefly describe what is Epic Cash in 3–5 sentences? What technology stands behind Epic Cash and why it’s better than the existing one? Max Freeman Project Lead at Epic Cash I’d like to highlight the differences between Epic and the two highest-valued privacy coin projects, Monero and Zcash. XMR has always-on privacy like Epic does, but at a cost: Its blockchain is over 20x more data intensive than Epic, which limits its possibilities for scalability. Epic’s blockchain is small and light enough to run a full node on cell phones, something that is in our product road map. ZEC by comparison can’t run on low end devices because of its zero knowledge based approach, and only 1% of transactions are fully private. Epic is simply newer, more advanced technology than prior networks thanks to Mimblewimble We will also add more algorithms to widen the range of hardware that can participate in mining. For example, cell phones and tablets based around ARM chips. Millions of people can mine Epic that can’t mine Bitcoin, and that will help grow the network rapidly. There are some great short videos on our YouTube channel https://www.youtube.com/channel/UCQBFfksJlM97rgrplLRwNUg/videos that explain why we believe we have created something truly special here. Our core architecture derives from Grin, so we are fortunate to benefit on an ongoing basis from their considerable development efforts. We are focused on making our currency truly usable and widely available, beyond a store of value and becoming a true medium of exchange. Yoga Dude PR&Marketing at Epic Cash Well we all have our views, but in a nutshell, we offer things that were missing in the previous cryptos. We have sound fiscal emission schedule matching Bitcoin, but we are vastly more private and faster. Our blockchain is lighter than Bitcoin or Monero and our tech is more scalable. Also, we are unique in that we are mineable with CPUs and GPUs as well as ASICs, giving the broadest population the ability to mine Epic Cash. Plus, you can’t forget FUNGIBILITY 🙂 we are big on that — since you can’t have true privacy without fungibility. Also, please understand, we have HUGE respect to all the cryptos that came before us, we learned a lot from them, and thanks to their mistakes we evolved. Xenolink Advisor at Epic Cash To add on, what also makes Epic Cash unique is the ability to decentralize the mining using a tri-algo model of Random X (CPU), Progpow (GPU), and Cuckoo (ASIC) for an ability to do hybrid mining. I believe this is an issue we can see today in Bitcoin having centralized mining and the average user has a costly barrier of entry. To follow up on this one in my opinion one of the things we adopted that we have seen success for , in example Bitcoin and Monero, is a strong community driven coin. I believe having a community driven coin will provide a more organic atmosphere especially when starting with No ICO, or Premine with a fair distribution model for everyone. CryptoDiffer team Q3: What are the major milestones Epic Cash has achieved so far? Maybe you can share with us some exciting plans for future weeks/months? Yoga Dude PR&Marketing at Epic Cash Since we went live in September of 2019, we attracted a very large community of users, miners, investors and contributors from across the world. Epic Cash is a very international project with white papers translated into over 30 languages. We are very much a community driven project; this is very evident from our content and the amount of translations in our white papers and in our social media content. We are constantly working on improving our usability, security and privacy, as well as getting our message and philosophy out into the world to achieve mass adoption. We have a lot of exciting plans for our project, the plan is to make Epic Cash into something that is More than Money. You can tell I am the Marketing guy since my message is less about the actual tech and more about the usability and use cases for Epic Cash, I think our Team and Community have a great mix of technical, practical, social and fiscal experiences. Since we opened our YouTube channels content for community submissions, we have seen our content translated into Spanish, French, German, Polish, Chinese, Japanese, Arabic, Russian, and other languages Max Freeman Project Lead at Epic Cash Our future development roadmap will be published soon and includes 4 tracks: Usability Mining Core Protocol Ecosystem Development Core Protocol Epic Server 2.9.0 — this release improves the difficulty adjustment and is aimed at making block emission closer to the target 60 seconds, particularly reducing the incidence of extremely short and long blocks — Status: In Development (Testing) Anticipated Release: June 2020 Epic Server 3.0.0 — this completes the rebase to Grin 3.0.0 and serves as the prerequisite to some important functional building blocks for the future of the ecosystem. Specifically, sending via Tor (which eliminates the need to open ports), proof of payment (useful for certain dex applications e.g. Bisq), and our native mobile app. Status: In Development (Testing) Anticipated Release: Fall 2020 Non-Interactive Transactions — this will enhance usability by enabling “fire and forget” send-to-address functionality that users are accustomed to from most cryptocurrencies. Status: Drawing Board Anticipated Release: n/a Scaling Options — when blocks start becoming full, how will we increase capacity? Two obvious options are increasing the block size, as well as a Lightning Network-style Layer 2 structure. Status: Drawing Board Anticipated Release: n/a Confidential Assets — Similar to Raven, Tari, and Beam, the ability to create independently tradable assets that ride on the Epic Blockchain. Status: Drawing Board Anticipated Release: n/a Usability GUI Wallet 2.0 — Restore from seed words and various usability enhancements — Status: Needs Assessment Anticipated Release: Fall 2020 Mobile App — Native mobile experience for iOS and Android. Status: In Development (Testing) Anticipated Release: Winter 2020 Telegram Integration — Anonymous payments over the Telegram network, bot functionality for groups. Status: Drawing Board Anticipated Release: n/a Mining RandomX on ARM — Our 4th PoW algorithm, this will enable tablets, cell phones, and low power devices such as Raspberry Pi to participate in mining. Status: Needs Assessment Anticipated Release: n/a The economics of mining Epic are extremely compelling for countries that have free or extremely cheap electricity, since anyone with an ordinary PC can mine. Individual people around the world can simply run the miner and earn meaningful money (imagine Venezuela for example), something that has not been possible since the very early days of Bitcoin. Ecosystem Development Atomic Swaps — Connecting Epic to other blockchains in a trustless way, starting with ETH so that Epic can trade on DeFi infrastructure such as Uniswap, Kyber, etc. Status: Drawing Board Anticipated Release: n/a Xenolink Advisor at Epic Cash From the Community aspect, we have been further developing our community international reach. We have been seeing an increase in interest from South America, China, Russia, Japan, Italy, and the Philippines. We are working on targeting more countries. We truly aim to be a decentralized project that is open to everyone worldwide. CryptoDiffer team Great, thank you for your answers, we now can move to community questions part! Cryptodiffer Community You have 3 mining algorithms, the question is: how do they not compete with each other? Is there any benefit of mining on the GPU and CPU if someone is mining on the ASIC? Max Freeman Project Lead at Epic Cash The block selection is deterministic, so that every 100 blocks, 60% are for RandomX (CPU), 38% for ProgPow (GPU), and 2% for Cuckoo (ASIC) — the policy is flexible so that we can have as many algorithms with any percentages we want. The goal is to make the most decentralized and resilient network possible, and with that in mind we are excited to work on enabling tablets and cell phones to mine, since that opens it up to millions of people that otherwise can’t take part. Cryptodiffer Community To Run a project smoothly, Funding is very important, From where does the Funding/revenue come from? Xenolink Advisor at Epic Cash Yes, early on this was realized and in order to scale a project funds are indeed needed. Epic Cash did not start with any funding and no ICO and was organically genesis mined with no pre-mine. Epic cash is also a nonprofit community driven project similar to Monero. There is no profit-driven entity in the picture. To overcome the revenue issue Epic Cash setup a development fund tax that decreases 1% every year until 2028 when Epic Cash reaches singularity with Bitcoin emissions. Currently it is at 7.77%. This will help support the scaling of the project. Cryptodiffer Community Hi! In your experience working also with MONERO can you please clarify which are those identified problems that EPIC CASH aims to develop and resolve? What’s the main advantage that EPIC CASH has over MONERO? Thank you! Yoga Dude PR&Marketing at Epic Cash First, I must admit that I am still a huge fan and HODLer of Monero. That said: ✅ our blockchain is MUCH lighter than Monero’s ✅ our transaction processing speed is much faster ✅ our address-less blockchain is more private ✅ Epic Cash can be mined with CPU (RandomX) GPU (ProgPow) and Cuckoo, whereas Monero migrated to RandomX and currently only mineable with CPU Cryptodiffer Community
the feature ‘Cut Through’ deletes old data, how is it decided which data will be deletes, and what are the consequences of it for the platform and therefore the users?
On your website I see links to download Epic wallet and mining software for Linux,Windows and MacOs, I am a user of android, is there a version for me, or does it have a release date?
Max Freeman Project Lead at Epic Cash
This is one of the most exciting features of Mimblewimble, which is its extraordinary ability to compress blockchain data. In Bitcoin, the entire history of a coin must be replayed every time it is spent, and comprehensive details are permanently stored in the blockchain. Epic discards spent transaction inputs and consolidates outputs, storing neither addresses or amounts, only a tiny kernel to allow sender and receiver to prove their transaction.
The Vitex mobile app is great for today, and we have a native mobile app for iOS and Android in the works as well.
Cryptodiffer Community $EPIC Have total Supply of 21,000,000 EPIC , is there any burning plan? Or Buyback program to maintain $EPIC price in the future? Who is Epic Biggest competitors? And what’s makes epic better than competitors? Xenolink Advisor at Epic Cash We respect the older generation coins like Bitcoin. But we have learned that the supply economics of Bitcoin is very sound. Until today we can witness how the Bitcoin is being adopted institutionally and by retail. We match the 21 million BTC supply economics because it is an inelastic fixed model which makes the long-term economics very sound. To have an elastic model of burning tokens or printing tokens will not have a solid economic future. Take for example the USD which is an inflating supply. In terms of competitors we look at everyone in crypto with respect and also learn from everyone. If we had to compare to other Mimblewimble tech coins, Grin is an inelastic forever inflating supply which in the long term is not sound economics. Beam however is an inelastic model but is formed as a corporation. The fair distribution is not there because of the permanent revenue model setup for them. Epic Cash a non-profit development tax fund model for scaling purposes that will disappear by 2028’s singularity. Cryptodiffer Community What your plans in place for global expansion, are you focusing on only market at this time? Or focus on building and developing or getting customers and users, or partnerships? Yoga Dude PR&Marketing at Epic Cash Since we are a community project, we have many developers, in addition to the core team. Our plans for Global expansion are simple — we have advocates in different regions addressing their audiences in their native languages. We are growing organically, by explaining our ideology and usability. The idea is to grow beyond needing a fiat bridge for crypto use, but to rather replace fiat with our borderless, private and fungible crypto so people can use it to get goods and services without using banks. We are not limiting ourselves to one particular demographic — Epic Cash is a valid solution for the gamers, investors, techie and non techie people, and the unbanked. Cryptodiffer Community EPIC confidential coin! Did you have any problems with the regulators? And there will be no problems with listing on centralized exchanges? Xenolink Advisor at Epic Cash In terms of structure, we are carefully set up to minimize these concerns. Without a company or investors in the picture, and having raised no funds, there is little scope to attack in terms of securities laws. Bitcoin and Ethereum are widely acknowledged as acceptable, and we follow in their well-established footprints in that respect. Centralized exchanges already trade other privacy coins, so we don’t see this as much of an issue either. In general, decentralized p2p exchange options are more interesting than today’s centralized platforms. They are more censorship resistant, secure, and privacy-protecting. As the technology gets better, they should continue to gain market share and that’s why we’re proud to be partnered with Vitex, whose exchange and mobile app work very well. Cryptodiffer Community What are the main utility and real-life usage of the #EPIC As an investor, why should we invest in the #EPIC project as a long-term investment? Max Freeman Project Lead at Epic Cash Because our blockchain is so light (only 1.16gb currently, and grows very slowly) it is naturally well suited to become a decentralized mobile money standard because people can run a full node on their phone, guaranteeing the security of their funds. Scalability in Bitcoin requires complicated and compromised workarounds such as Lightning Network and light clients, and these problems are solved in Epic. With our forthcoming Mobile Mining app, hundreds of millions of cell phones and tablets will be able to easily join the network. People can quickly and cheaply send money to one another, fulfilling the long-envisioned promise of P2P electronic cash. As an investor, it’s important to ask a few key questions. Bitcoin Standard tokenomics of disinflation and a fixed supply are well proven over a decade now. We follow this model exactly, with a permanently synchronized supply from 2028, and 4 emission halvings from now until then, with our first one in about two weeks. Beyond that, we can apply some simple logical tests. What is more valuable, money that can only be used in some cases (censorable Bitcoin based on a lack of fungibility) or money that can be used universally? (fungible Epic based on always-on privacy by default). Epic is also poised to be a more decentralized and therefore resilient network because of wider participation in mining. Epic is designed to be Bitcoin++ Privacy, Fungibility, Scalability Cryptodiffer Community Q1. What are advantages for choosing three mining algorithms RandomX+, ProgPow and CuckAToo31+ ? Q2. Beam and Grin use MimbleWimble protocol, so what are difference for Epic? All of you will be friends for partners or competitors? Max Freeman Project Lead at Epic Cash RandomX and ProgPow are designed to use the entirety of a CPU / GPU’s unique processing capabilities in a way that other types of hardware don’t work as well. You can run RandomX on a GPU but it doesn’t work nearly as well as a much cheaper CPU, for example. Cuckoo is a “memory hard” algorithm that widens the range of companies that can produce the hardware. Grin and Beam are great projects and we’ve learned a lot from them. We inherited our first codebase from Grin’s excellent Rust design, which is a better language for community participation than C++ that Beam currently uses. Functionally, Mimblewimble is similar across the 3 coins, with standard Confidential Transactions, CoinJoin, Dandelion++, Schnorr Signatures and other advanced features. Grin is primarily ASIC-targeted, Beam is GPU-targeted, and Epic is multi-hardware. The biggest differences though are in tokenomics and project structure. Grin has permanent inflation of 60 coins per block with no halvings, which means steady erosion of value over time due to new supply pressure. It also lacks a steady funding model, making future development in jeopardy, particularly as the per coin price falls. Beam has a for-profit model with heavy early inflation and a high developer tax. Epic builds on the strengths of these earlier mimblewimble projects and addresses the parts that could be improved. Cryptodiffer Community Some privacy coin has scalability issues! How Epic cash will solve scalability issues? Why you choose randomX consensus algorithem? Xenolink Advisor at Epic Cash Fungibility means that you can’t distinguish one unit of currency from another, in example Gold. Fungibility has recently become a hot issue as people have been noticing Bitcoins being locked up by exchanges which may of had a nefarious history which are called Tainted Coins. In example coins that have been involved in a hack, darknet market transactions, or even processing coin through a mixer. Today we can already see freshly mined Bitcoins being sold at a premium price to avoid the fungibility problem Bitcoin carries today. Bitcoin can be tracked by chainalysis and is not a fungible cryptocurrency. One of the features that Epic has is privacy with added fungibility, because of Mimblewimble technology, Epic has no addresses recorded and therefore nothing can be tracked by chainalysis. Below I provide a link of an example of what the lack of fungibility is resulting in today with Bitcoin. One of the reasons why we chose the Random X algo. is because of the easy barrier of entry and also to further decentralize the mining. Random X algo can be mined on old computers or laptops. We also have 2 other algos Progpow (GPU), and Cuckoo (ASIC) to create a wider decentralization of mining methods for Epic. Cryptodiffer Community I’m a newbie in crypto and blockchain so how will Epic Cash team target and educate people who don’t know about blockchain and crypto? What is the uniqueness of Epic Cash that cannot be found in other project that´s been released so far ? Yoga Dude Pr&Marketing at Epic Cash Actually, while we have our white paper translated into over 30 languages, we are more focused on explaining our uses and advantages rather than cold specs. Our tech is solid, but we not get hung up on pure tech talk which most casual users do not need to or care to understand. As long as our fundamentals and tech are secure and user friendly our primary goal is to educate about use cases and market potential. The uniqueness of Epic Cash is its amalgamation of “whats good” in other cryptos. We use Mimblewimble for privacy and anonymity. Our blockchain is much lighter than our competitors. We are the only Mimblewimble crypto to use a unique cocktail of mining algorithms allowing to be mined by casual miners with gaming rigs and laptops, while remaining friendly to GPU and CPU farmers. The “uniqueness” is learning from the mistakes of those who came before us, we evolved and learned, which is why our privacy is better, we are faster, we are fungible, we offer diverse mining and so on. We are the best blend — thats powerful and unique Cryptodiffer Community Can you share EPIC’s vision for decentralized finance (DEFI)? What features do EPIC have to support DEFI? Yoga Dude PR&Marketing at Epic Cash We view Epic as ideally suited to be the decentralized digital reserve asset of the new Private Internet of Money that’s emerging. At a technology level, atomic swaps can be created to build liquidity bridges so that wrapped Epic tokens (like WBTC, WETH) can trade on other networks as ERC20, BEP2, NEP5, VIP180, Algorand and so on. There is more Bitcoin value locked on Ethereum than in Lightning Network, so we will similarly integrate Epic so that it can trade on networks such as Uniswap, Kyber, and so on. Longer term, if there is market demand for it, thanks to Scriptless Script functionality our blockchain has, we can build “Confidential Assets” (which Raven, Tari, and Beam are all also working on) that enable people to create tokenized assets in a private way. Cryptodiffer Community If you could choose one celebrity to promote Epic-cash, who that would be? Max Freeman Project Lead at Epic Cash I am a firm believer that the strength of the project lies in allowing community members to become their own celebrities, if their content is good enough the community will propel them to celebrity status. Organic celebrities with small but loyal following are vastly more beneficial than big name professional shills with inflated but non caring audiences. I remember the early days of Apple when an enthusiastic dude named Guy Kawasaki became Apple Evangelist, he was literally going around stores that sold Apple and visited user groups and Evangelized his belief in Apple. This guy became a Legend and helped Apple become what it is today. Epic Cash will have its OWN Celebrities Cryptodiffer Community How does $EPIC solve scalability of transactions? Current blockchains face issues with scalability a lot, how does $EPIC creates a solution to it? Xenolink Advisor at Epic Cash Epic Cash is utilizing Mimblewimble technology. Besides the privacy & fungibility aspect of the tech. There is the scalability features of it. It is implemented into Epic by transaction cut-through. Which means it allows nodes to remove all intermediate transactions, thus significantly reducing the blockchain size without affecting its validation. Mimblewimble also does not use addresses like a BTC address, and amount of transactions are also not recorded. One problem Monero and Bitcoin are facing now is scalability. It is evident today that data is getting more expensive and that will be a problem in the long run for those coins. Epic is 90% lighter and more scalable compared to Monero and Bitcoin. Cryptodiffer Community what are the ways that Epic Cash generates profits/revenue to maintain your project and what is its revenue model ? How can it make benefit win-win to both invester and your project ? Max Freeman Project Lead at Epic Cash There is a block subsidy of 7.77% that declines 1.11% per year until 0, where it stays after that. As a nonprofit community effort, this extremely modest amount goes much further than in other projects, which often take 20, 30, even 50+ % of the coin supply. We believe that this ongoing funding model best aligns the long term incentives for all participants and balances the compromises between the ends of the centralized/decentralized spectrum of choices that any project must make. Cryptodiffer Community Q1 : What are your major goals to archive in the next 3–4 years? Q2 : What are your plans to expand and gain more adoption? Yoga Dude Pr&Marketing at Epic Cash Max already talked about our technical plans and goals in his roadmap. Allow me to talk more about the non technical 😁 We are aiming for broader reach in the non technical more mainstream community — this is a big challenge but we believe it is doable. By offering simpler ways to mine Epic Cash (with smart phones for example), and by doing more education we will achieve the holy grail of crypto — moving past the fiat bridges and getting Epic Cash to be accepted as means of payment for goods and services. We will accomplish this by working with regional advocacy groups, community interaction, off-line promotional activities and diverse social media targeting. Cryptodiffer Community It seems to me that EpicCash will have its first Halving, right? Why a halving so soon? Is a mobile version feasible? Max Freeman Project Lead at Epic Cash Our supply emission catches up to that of Bitcoin’s first 19 years after 8 years in Epic, so that requires more frequent halvings. Today’s block emission is 16, next up are 8, 4, 2, and then finally 0.15625. After that, the supply of Epic and that of BTC stay synchronized until maxing out at 21m coins in 2140. Today we have a mobile wallet through the Vitex app, a native mobile wallet coming, and are working on mobile mining. Cryptodiffer Community What markets will you add after that? Yoga Dude PR&Marketing at Epic Cash Well, we are aiming to have ALL markets Epic Cash in its final iteration will be usable by everyone everywhere regardless of their technical expertise. We are not limiting ourselves to the technocrats, one of our main goals is to help the billions of unbanked. We want everyone to be able to mine, buy, and most of all USE Epic Cash — gamers, farmers, soccer moms, students, retirees, everyone really — even bankers (well once we defeat the banking industry) We will continue building on the multilingual diversity of our global community adding support and advocacy groups in more countries in more languages. Epic Cash is More than Money and its for Everyone. Cryptodiffer Community Almost, all cryptocurrencies are decentralized & no-one knows who owns that cryptocurrencies ! then also, why Privacy is needed? hats the advantages of Private coins? Max Freeman Project Lead at Epic Cash With a public transparent blockchain such as Bitcoin, you are permanently posting a detailed history of your money movements open for anyone to see (not just legitimate authorities, either!) — It would be considered crazy to post your credit card or bank statements to Twitter, but that’s what is happening every time you send a transaction that is not private. This excellent video from community contributor Spencer Lambert https://www.youtube.com/watch?v=0blbfmvCq\_4 explains better than I can. Privacy is not just for criminals, it’s for everyone. Do you want your landlord to increase the rent when he sees that you get a raise? Your insurance company to raise your healthcare costs because they see you buying too much ice cream? If you’re a business, do you want your employees to see how much money their coworkers make? Do you want your competitors to trace your supplier and customer relationships? Of course not. By privacy being default for everyone, cryptocurrency can be used in a much wider range of situations without unacceptable compromises. Cryptodiffer Community What are the main utility and real-life usage of the #EPIC As an investor, why should we invest in the #EPIC project as a long-term investment? Xenolink Advisor at Epic Cash Epic Cash can be used as a Private and Fungible store of value, medium of exchange, and unit of account. As Epic Cash grows and becomes adopted it can be compared to how Bitcoin and Monero is used and adopted as well. As Epic is adopted by the masses, it can be accepted as a medium of exchange for store owners and as fungible payments without the worry of having money that is tainted. Epic Cash as a store of value may be a good long term aspect of investment to consider. Epic Cash carries an inelastic fixed supply economic model of 21 million coins. There will be 5 halvings which this month of June will be our first halving of epic. From a block reward of 16 Epic reduced to 8. If we look at BTC’s price action and history of their halvings it has been proven and show that there has been an increase in value due to the scarcity and from halvings a reduction of # of BTC’s mined per block. An inelastic supply model like Bitcoin provides proof of the circulating supply compared to the total supply by the history of it’s Price action which is evident in long term charts since the birth of Bitcoin. EPIC Plans to have 5 halvings before the year 2028 to match the emissions of Bitcoin which we call the singularity event. Below is a chart displaying our halvings model approaching singularity. Once bitcoin and cryptocurrency becomes adopted mainstream, the fungibility problem will be more noticed by the general public. Privacy coins and the features of fungibility/scalability will most likely be sought over. Right now a majority of people believe that all cryptocurrency is fungible. However, that is not true. We can already see Chainalysis confirming that they can trace and track and even for other well-known privacy coins today such as Z-Cash. Cryptodiffer Community
You aim to reach support from a global community, what are your plans to get spanish speakers involved into Epic Cash? And emerging markets like the african
How am I secure I won’t be affected by receiving tainted money?
Max Freeman Project Lead at Epic Cash Native speakers from our community are working to raise awareness in key markets such as mining in Argentina and Venezuela for Spanish (Roberto Navarro called Epic “the holy grail of cryptocurrency” and Ethiopia and certain North African countries that have the lowest electricity costs in the world. Remittances between USA and Latin American countries are expensive and slow, so Epic is also perfect for people to send money back home as well. Cryptodiffer Community Do EPICs in 2020 focus more on research and coding, or on sales and implementation? Yoga Dude PR&Marketing at Epic Cash We will definitely continue to work on research and coding, with emphasis on improved accessibility (especially via smartphones) usability, security and privacy. In terms of financial infrastructure will continuing to add exchanges both KYC and non KYC. Big part of our plans is in ongoing Marketing and PR outreach. The idea is to make Epic Cash a viral sensation of sorts. If we can get Epic Cash adopters to spread the word and tell their family, coworkers and friends about Epic Cash — there will be no stopping us and to help that happen we have a growing army of content creators, and supporters. Everyone with skin in the game gets the benefit of advancing the cause. Folks also, this isn’t an answer to the question but an example of a real-world Epic Cash content — https://www.youtube.com/watch?v=XtAVEqKGgqY a challenge from one of our content creators to beat his 21 pull ups and get 100 epics! This has not been claimed yet — people need to step up 🙂 and to help that I will match another 100 Epic Cash to the first person to beat this Cryptodiffer Community I was watching some videos explaining how to send and receive transactions in EpicCash, which consists of ports and sending links, my question is why this is so, which, for now, looks complex? Let’s talk about the economic model, can EpicCash comply with the concept of value reserve? Max Freeman Project Lead at Epic Cash In V3, which is coming later this summer, Epic can be sent over Tor, which eliminates this issue of port opening, even though using tools like ngrok.io, it’s not necessarily as painful as directly configuring the router ports. Early Lightning Network had this issue as well and it’s something we have a plan to address via research into non-interactive transactions. “Fire and Forget” payments to an address, as people are used to in Bitcoin, is coming to Epic and we’re excited to develop functionality that other advanced mimblewimble coins don’t yet have. We are committed to constant improvement in usability and utility, to make our money system the ease of use leader. We are involved in the project (anyone can join the Freeman Family) because we believe that simply by choosing to use a form of money that better aligns with our ideals, that we can make a positive change in the world. Some of my thoughts about how I got involved are here: https://medium.com/epic-cash/the-freeman-family-e3b9c3b3f166 Max Freeman Project Lead at Epic Cash Huge thanks to our friends Maks and Vladyslav, we welcome everyone to come say hi at one of our friendly communities. It is extremely early in this journey, our market cap is only 0.5m right now, whereas the 3 other mimblewimble coins are at $20m, $30m and $100m respectively. Epic is a historic opportunity to follow in the footsteps of legends such as Bitcoin and Monero, and we hope to become the first Top 5 privacy coin project. Xenolink Advisor at Epic Cash Would like to Thank the Cryptodiffer Team and the Cryptodiffer community for hosting us and also engaging with us to learn more about Epic. If anyone else has more questions and wants to know more about EPIC , can find us at our telegram channel at https://t.me/EpicCash . Yoga Dude Pr&Marketing at Epic Cash Thank you, CryptoDiffer Team, and this wonderful Community!!! Cryptodiffer TEAM Thank you everyone for taking your time and asking great questions Thank you for your time, it was an insightful session Spread the love
Deep fundamental reasons behind all conflicts with Tezos Foundation
Let's first take a look at two core ideas behind Tezos protocol:
In Bitcoin protocol, there are those who create blocks (miners) and users. Those are two fundamentally different groups. As a result of that they do have fundamentally different interests. When those interests are aligned, it's all work very well. However, sometimes those interests might get misaligned. Miners might want one set of changes in the protocol while users might want another set of changes. Tezos procotol solves this problem via proof of stake's baking mechanism by allowing users of XTZ to become block creators (like miners in Bitcoin protocol). Users/holders of XTZ and block creators are now fundamentally the same group and therefore there is no interest misalignment. Moreover, as a consequence of choosing proof of stake over proof of work, almost anyone can become a baker at low cost. Of course, there is a minimum requirement but it can be easily reduced through voting if price XTZ goes too high;
Although per (1) problem of misalignment between users and miners solved, Tezos protocol make one step further. Namely, there is self-amending mechanisms in protocol. Through of the set of voting rounds, attached bounties (via dillution), there is a deterministic path to resolve disputes in upgrading Tezos protocol. Nobody knows the future, nobody knows how protocol should look like after 5-10-20 years. That's why it's very important to have self-amending procedure. Without deterministic path to protocol upgrade, you will have fork-wars like in Bitcoin. As a result of these fork-wars, you now have Bitcoin, Bitcoin Cash, Bitcoin SV. Also, with built-in bounties via dillution, Tezos protocol guarantees funding for its further development;
There is third core idea behind Tezos protocol. Namely, formal verification friendly, low-level and explicit smart contract language - Michelson. While it's very important feature, it's not relevant for this discussion. Now imagine you are going back in time when Tezos protocol isn't implemented yet, only draft whitepaper. How would you bring it to life if you were original author? If there were no crypto-currencies, then all you have to do is to take time and implement minimum viable product (MVP) on your own. May be you might do it with co-founder but it's not really necessary for releasing the first version of protocol in absence of any competition. However, the field was already crowded and time works against you. It would be necessary for project's survival to be as fast as possible in such dynamic field. You need to raise funds to hire dozen of strong programmers to implement Tezos protocol and on top of that to fund development of ecosystem in Tezos network. Namely, wallets, higher-level languages on top of low-level Michelson, education materials for future smart contract writers, new projects similar to 0x, Maker, Compound, Cryptokitties etc. Now, I would like you to make a pause and think what is Tezos protocol. It tries to align incentives of parties using game-theoretic constructs! And now, I would like you to make second pause and think what crypto-currencies are all about in broader sense. Crypto-currencies are about eliminating centralization and unnecessary middle-mans. One of the biggest middle-mans is governments and their legal system. People who are in the space for long time should know how much crypto-currencies influenced by Austrian School of Economics (read Hayek's book "Denationalization Of Money" (1976) and early Satoshi Nakamoto's posts). With that in mind (spirit behind Tezos and crypto-currencies in general), how would you fund development of Tezos protocol and later its initial ecosystem? The correct answer is to setup decentralized autonomus organization (DAO). Initial DAO on Ethereum protocol since you don't have any Tezos protocol implementations (remember, we are still back in time!). This DAO will be used to develop Tezos protocol itself and leverage power of smart contracts to correctly align incentives for development of Tezos protocol. Namely, backers of this DAO would get ERC20 token representing voting and governance power. For example, let's say founders raised 250M USD worth in ETH and all of these money will be locked in smart contract. Only backers can unlock funds from smart contract by tranches as Tezos protocol developers making progress. It would be similar to traditional world - seed round, round A, round B etc. When Tezos mainnet goes live, backers would receive proportional amount of XTZ as their ERC20 voting tokens on Ethereum. Since that initial DAO would still have tons of ETH locked by the time Tezos mainnet released, those proceeds will be used to fund wallet developers, high-language developers, and so on (via voting by backers of course). In this scenario, I would envision that the first big project after Tezos mainnet launched would be to build trustless, decentralized bridge between Tezos blockchain and Ethereum blockchain. Simply, because it would be good to migrate intial DAO and its ETH funds into Tezos blockchain. There are only two downsides with this approach:
You can't raise funds in Bitcoin but who cares if it's 100M or even 50M (still huge amount of money);
Many people in crypto-space will make fun of you because you just setup DAO on Ethereum while developing Ethereum competitor;
Neither of these two downsides is important. Ultimate upside is that backers has direct control over how funds are spent because they would be the only ones who can unlock funds by voting for proposals. On meta-level, you would have beautiful symmetry. Namely, you develop Tezos protocol and its ecosystem, using the similar ideas and spirit as Tezos protocol itself! But we all know that it was never happened! We all know drama with Gevers who tried to capture power at Tezos Foundation. We all know that there is no RPC command in Tezos github to vote out Tezos Foundation members ;) We all know that we are not in control of Tezos Foundation. Tezos Foundation is a swiss non-profit organization with its own board and we are not part of it. Tezos Foundation is govern under Swiss law and most of you are not even Swiss citizens. Here is the question why Breitmans suddently decided to throw away all fundamental principles behind crypto-currencies and just went all-in with traditional world? Why we all got stuck with our own mini-Washington, namely Tezos Foundation? There is one reason why Breitmans decided to throw away all their principles and stick with this strange scheme involving Swiss foundations. The reason is ... socialism. You might think I'm joking but stay with me. There were roaring 1920s and following 1929 stock market crash (by the way that was actually caused by government creating credit bubble). Republican (but still a socialist) Herbert Hoover created depression from 1929 crash. Franklin Roosevelt made this depression truly great! He imposed price-controls and outright gold confiscation (check "Executive Order 6102"). One of his most terrible pieces of paternalistic socialist legislation was "Securities Act of 1933". And this is the reason why Breitmans tried so hard escape iron hand of Roosevelt's zombie. The same month as Tezos fundraiser, SEC issued statement about the most famous Ethereum DAO: https://www.sec.gov/news/press-release/2017-131 https://www.sec.gov/litigation/investreport/34-81207.pdf Basically, they tried to say that DAO violated their 1933 Securities Act (aka Roosevelt zombie). I'm not claiming that Breitmans anticipated this exact SEC statement about Ethereum DAO. All I'm saying that they are smart enough to understand that SEC might come after them as well. It doesn't matter if SEC had right to do so. It doesn't matter that XTZ is not security at all. Only people outside of hardcore old school crypto-community would believe in such non-sense as rights. The truth is that any government is essentially an army which controls a territory and they (not you!) decide what they think is right or wrong. Breitmans knew that SEC might chase them with bloody machete, so they decided to play traditional game which many played when Switzerland still had numbered accounts. Namely, using Switzerland as old-style traditional escape from Roosevelt zombies. Unfortunately, for them they got in hands of people who knew too well how actually Swiss foundations work. We all remember how Gevers tried to exploit Swiss law about foundations to seize control over foundation's assets. Now we have new drama. But fundamentally, it's all because Breitmans choose Swiss law over Ethereum smart-contracts. Don't get me wrong, I'm not blaming Breitmans. I really think that their fear of Roosevelt zombie with bloody machete led them to setup weird foundation in Switzerland. In normal circumstances, I don't see any rational reason not to setup DAO as I described above. Zooming out, on the bigger scale, you might see that these two worlds (i.e. traditional government law and crypto) are not compatible at all. You just can't have both of two worlds. For the same reason, I don't believe in STOs. It's a nice toy, a temporary thing to bootstrap your Defi ecosystem in Tezos but nothing more than that. Every STO, at some point, rely on some centralized entity which is controlled by law of some jurisdiction. Once government (aka army which control territories and make visibility of its own legitimacy via elections and passing laws) decides that your STO is not compliant, all these STO tokens will be worthless overnight. More on this in my another long post: https://www.reddit.com/MakerDAO/comments/de0sys/kyc_is_absolutely_not_acceptable_for_makerdao/ Regardless of what's happen with Tezos Foundation, I strongly believe that Tezos protocol will thrive. Mainnet went life and the jinn that can't be put back in the bottle! Update: Many here criticized my position regarding STOs. That's partly my fault with being too lax with terminology (once I wrote big post, I didn't have much energy to clarify on STOs in the end). By STO, I mean any tokens backed by regulated assets (again, I know it's lax definition). I assumed almost everyone here is for open, borderless finance. As a result of that, I assumed that you want to make these tokens available for everyone and that's why one day government will put pressure on such STO issuers to freeze tokens. However, it's turned out that some people excited for STOs being fully regulated from the start and therefore these tokens wouldn't be available for everyone. Basically, some people see main benefits of STOs as being pro-actively censorship friendly. In other words, they want to move all compliance on blockchain. Whereas, I see very existence of government regulations as root of all problems. Having said that, I'm not against STOs but I'm not very excited about them either. You have to make great mental leap to understand that fully-regulated STOs fundamentally solving wrong problem. You have to build fully censorship resistant technology, not fully censorship friendly. No matter how big market for STOs, it's still several orders of magnitude smaller than potential world of fully-inclusive finance without any borders whatsoever. Tezos is very well equipped for this ambitious task especially with new privacy features coming. Remember, Satoshi Nakamoto didn't ask permission from governments before releasing Bitcoin.
The Fed's Losing Battle with Technological Deflation
PART 1/4 - FREE MARKET? First off, let's set the scene. The stock market is telling you nothing about the real economy anymore. Economic fundamentals have never mattered as little for the stock market as has been the case during this 11-year bull market. The correlation between gross-domestic-product growth and the direction of the S&P 500 Index has only been 7% in this cycle - historically it has been 30% to 70%. Why? Well, it is the Central Banks, led by the Fed, who printed their way out of the Recession in '08. In doing so, they have papered over the cracks, and we have seen the longest economic expansion is US history. However, this is not a particularly meritocratic process: money creation itself increases inequality via the Cantillon Effect, as money printing leads to asset price inflation, which disproportionately benefits the rich and hurts the poor. Former Federal Reserve Chairman Paul Volcker told the New York Times in 2018: “The central issue is we’re developing into a plutocracy. We’ve got an enormous number of enormously rich people that have convinced themselves that they’re rich because they’re smart and constructive." The reality of course is that this is largely not the case - it is because the game is rigged in their favour. Now, it is important to emphasise the fact that the path we have taken has resulted in the highest living standards we have seen in human history. However, the issue, particularly since the US completely abandoned the gold standard in 1971, is that debt has exploded to obscene levels. We are not operating in a free market if it takes $185 trillion of debt over the last 20 years to create 'growth'. In fact, the global debt to GDP ratio hit an all-time high of 322% in the third quarter of 2019. Inflation means that your dollar loses value and thus your purchasing power goes down. Deflation means that the value of your dollar goes up and your purchasing power goes up. That's a good thing right? You get more goods and services for less. Well, no. If you have deflation, debt explodes in real terms and you can never pay it back. As the economy is based on debt, if you allow deflation, then you have to reset the debt. This is why central banks fear deflation so much. However, the major force driving the human race is technological progress - and this stops for no mortal... PART 2/4 - TECHNOLOGICAL DEFLATION: The increased abundance created by technology will result in massive job losses. Throughout history, doom porn enthusiasts have screamed that the machines are coming for jobs. This is not a new phenomenon. All technological revolutions are deflationary - since they create "supply side shocks", meaning that they allow for more intensive use of resources and thus higher production. With more goods being produced, all other things being equal, the price of those goods will fall. In the last 20 years or so, software has disrupted and replaced many established goods and services. It is in the next 20 years that another disruptive technology is set to take the stage: AI According to Steve Schwarzman, the co-founder and CEO of The Blackstone Group who has a net worth of $17.6BN, "This is going to touch everyone's life....you're not going to be able to get away from this technology" Moreover, this virus will only accelerate this trend towards tech. Zoom is a fantastic example of exactly this. Old legacy economic systems were not built for this tech deflation, and the thing about exponential growth is that we humans do not intuitively understand it. As an example, if you folded a piece of paper 50 times, of course you can only fold it seven times, but if you could fold it 50 times, it would reach the Sun! PART 3/4 - IMPLICATIONS FOR SOCIETY: The question is: how does this play out? In the long term, it is the fundamental structure of the economic system that has a significant impact on people's lives, not who is President for 4 to 8 years. In reality, politicians have limited power and are effectively all puppets. We have seen what happens when a President doesn't stay in their lane... One could argue that the two main mechanisms of control are:
As we have seen many times in the past, herd psychology is worryingly easy to manipulate... Speaking of the censorship, in his book Antifragile, Nassim Taleb discusses the anti fragility of information. Information feeds more on attempts to harm it than it does on efforts to promote it. A fantastic example of this process is what has happened in the last week with London Real: they were banned on LinkedIn and David Icke's interview was censored. Now, regardless of what you think of this particular channel or your thoughts on David Icke and the theories provided, censoring information in this way actually spreads it more virally. It's fascinating to observe how many views the videos regarding the bans and censorship have relative to the others. And the impact this has had on subscribers. It is always easier to blame a bigger enemy (or create a new one) rather than to admit it's a structural problem. Therefore, you avoid short term pain...whatever the cost. The real question is if and when this situation will lead to social unrest... PART 4/4 - INTELLECTUAL CAPITALISM: The depth and width of jobs impacted by AI will continue to increase in the future, now this will not necessarily happen straight away. However, our transition from commodity capitalism to intellectual capitalism in inevitable and the people and nations who fight against this trend will be on the wrong side of history. From a practical investment perspective, and disclaimer this is not investment advice, network effects are a crucial aspect to consider moving forwards. Essentially, this means that the value of the network increases with each additional user - all of the tech monopolies have exhibited this property. An asset which could in time demonstrate very strong network effects is Bitcoin. Looking at the market cap relative to other asset classes, Bitcoin provides an asymmetric investment opportunity. Only time will tell... https://www.youtube.com/watch?v=7nFbKzt-uwE
Issuing money by global central banks is a great opportunity for stablecoins," says Digital Gold Advisor Dr. Walter Tonetto
Last week we talked with our adviser and CEO at Nusantara Trust Dr Walter Tonetto. He answered a number of questions that interest our customers. How did you land in the cryptocurrency / blockchain space? I was advising startup businesses in the technology space, and when 2016 came around, I asked Scotty, the feisty chief engineer of the U.S.S. Enterprise, to beam me into the heart of the finance system; I felt more and more the irresistible tug towards remodeling the current toxic financial system. Purposive remodeling, of course, is going on all the time, and it’s a knife that cuts into two directions. The vast majority of the ‘woke’ crowd actually believe that they can ‘disrupt’ the power of the elites that control all money flows. Bathing limestone statues – registering about 4 on the Mohs scale and 0 on the scale of reason -- of past leaders in district waters may give you a feeling of breathing the air of revolution and tiring unknown muscle-groups in your shanks, but think of it like a father watching his child toss around shovels of soil in a sandbox; he smiles benignly from afar, knowing it won’t change a thing; all the luxurious appointments at home won’t get touched. It is a grave illusion to suppose that by playing around with payment systems and technologies we will actually change the role and the emission of money. You may be permitted to become the shoe-shine boy in the royal household, but don’t think you will marry the princess and dilute the royal blood! But understanding the constitutive parts of power aggregation, and working over significant time-frames, allows for approaches and solutions; -- but these should come not from another adversarial position, thus merely marking a displacement of the incumbent, a change of guard, but from an authentic re-orientation, of making benefits much more widely possible and not creating monetary systems that are grossly imbalanced and highly destructive. That, and not building tech stacks, is the challenge! What was your initial reaction to bitcoin? Well, I was following the file-sharing service Napster since it started, around 1999 – when the U.S.S. Enterprise was sitting pier-side at Huntington Ingalls Newport shipyard, rusted and gutted, and to me the P2P sharing paradigm was always present in my mind, shining buffed and radiant, so even the centralized Napster was something wholly natural to me – Dr Sheldrake calls it morphic resonance. We live with a great deal of blurriness, though. On the one hand, we think of the virtues of sharing; on the other, there is a seemingly indefatigable impulse to control and dominate. Sean Parker, after founding and floundering with Napster, became a cocaine-snorting egotist and president of Facebook. Collecting money for a charity, he gets aggressive with people who do not follow suit. A control-freak in overdrive. Notwithstanding the technical variations, BTC, seemingly freeing us up from fiscal controls and yet showing our craving for money, exemplifies the flawed perception at the root of things. Monero, which sounds like a much faster, highoctane vehicle, a CV8-Z of the crypto-track, beats BTC in regard to privacy and fungibility, though BTC has advantages in other areas. Which is a much more common trend nowadays? It’s hard to make out the shapes of wild-life in the current kangaroo market we’re in. The bulls and bears have mauled one another, and the kangaroo, bereft of oxygen on account of wearing a tight mask, is hopping wildly everywhere. But clearly the possibilities of digital currencies became un-tethered via Bitcoin and the querulous and hidden Satoshi. I like to think of him more as an idea rather than as a person; an idea is generally more malleable and consequential. For instance, rather than laud the benefits of crypto for FX and cross-border payments, the possibilities of a central-bank issued digital currencyENCOMPASS THE POTENTIAL to inscribe new roles for programmable money; for how money is issued, how it is used, and what role custodial mechanisms (traditionally in the hand of commercial banks) might have. I see HUGE potential for private firms to enter the equation here, but we need more open-minded and intelligent regulators that do not always look for the rungs of the career-ladder in any move they make! A DAO could be most helpful here, but we are currently under the terror of algorithms that are not concerned with the welfare of the greatest number of people. If I had the time I would coauthor a book on this theme with a skilful mathematician (perhaps with my son, who is completing a Ph.D in near-term Quantum Algorithms). In 2018 I was keynote speaker at the BlueWhale forum in Seoul, and I spoke about an Algorithm of Peace. I had a clutch of people approach me straight after the talk, some from Korea, others from the U.S., and ask me to develop my ideas in book form. Where do you see the price of bitcoin going over the next few years? I wouldn’t speculate, but since everyone is shilling it, it is bound to keep pushing north, occasional blockages otwithstanding. I always look for twists and incongruities in the usual narratives on offer. Many BTC fans talk about the unbanked, but BTC is held by what will become another elite in due course, and the unbanked will later be serving them the chilled drinks between innings, as usual. Do you think that there’s a time for altcoins to break out and move away from the movements of bitcoin? What’s that tipping point that needs to take place? I have some notions under which alt-coins can take the lead and leave bitcoin behind, but it’s too complex to explain the conditions for that to occur. Once very solid use-cases have been established with a clutch of alt-coins, bitcoin might begin quavering in his boots. That alt-coins should take BTC as a benchmark speaks volumes about the lack of maturity of this young and over-eager market. The fuzzy umbilical cord is always present like a foot-tangle; alt-coins must find their own ground, and clip the connection to a vagrant father. Finance needs clarity and not fuzziness. Keep in mind that many sovereign nations bridle at the calamitous influence of the US on payment systems, so nations are building their own messaging systems outside SWIFT, and their own securities exchanges are following. But remember: these are all crumbs: the U.S. can shut down payments to any recipient accounts by informing the payments company and doling out threats. And since all alt-coins and fiat currencies are connected to payment gateways in some form, the U.S. would have to begin reforming its archaic ACH structure to enable efficiencies in the financial pipes, which does not offer real-time payments functionality. This accounts for the relative simplicity (and success) of the PayPal business model (which Venmo and Dwolla later emulated without using credit cards). But understand that the elites will always protect the real crown jewels, and incite wars (or street battles and racial squabbles, as we’re witnessing in the U.S. in mid 2020) so that they can get away with major financial heists in broad daylight. It’s all smoke and mirrors, and scorched talons if you look closely: you cannot trust the reflection you will receive on a smoky pane. Only the big players know the predetermined outcome. One fundamental misprision occurs amongst alt-coin apologetes: they fail to understand how markets move and what the designated role of money is in markets. Even if you want to displace something, you first need to understand exactly what you’re dealing with, but that is rarely the case. Yes, banks are structurally and constitutionally part of the problem, but no government will dare cross swords with them: there is still too much aggregated power. Ripple and Stellar are two Blockchains that are working with, and not against, banks, and that likely makes them much better candidates for wide acceptance. What’s one must-read book you recommend to everyone? That depends so very much on who’s sitting opposite me! I wouldn’t push what is not naturally aligned. But I would push a couple of films urgently, as essential viewing for everyone: “Vaxxed: From Cover-Up to Catastrophe” (and a sequel), which profoundly shocked me, but confirmed my suspicions. Talking about books: one gets a good sense of the kind of books I would counsel people not to touch, unless an overweening impulse bade them otherwise. For instance Steve Pinker, a favourite author of Bill Gates. Pinker in Gates’ hands explains a lot about the character of the reader, the latter of whom I consider one of the most dangerous people on the planet at the moment. If we stay with Pinker for a moment, since he’s famous and fashionable (Harvard professor with a Medusa hairdo and an effete libertarian air, who in “Better Angels of Our Nature” has affirmed that man is not innately good), we note in his presentation in regard to his ineptly titled book “Enlightenment” that he falls prey to the very flaws he chastises, the classic Münchhausen trilemma (in Jakob Fries’ phrase). Picture Baron Münchhausen pulling himself out of quicksand by his own hair! That he is beholden to neoliberal befuddlement becomes clear when two of the opening images of his talk show Vladimir Putin with a rifle andDonald Trump speaking on a podium. The classic neoliberal Harvard think-tank shows reason to be failing and drowning in pious gestures to the cognoscenti and anointed. I like to look for effective counters for specious and shallow argument: for instance, Rupert Sheldrake’s “The Science Delusion” is a splendid book that bucks the Dawkins’, Pinkers and other materialists of this age. You see, if one listens to Pinker with the head alone, his pedestrian epistemology might not irk, and some ideas might appear plausible enough in a desultory encounter, but if you really want to know the meaning of things, and discover how it relates to the heart, you feel betrayed and given short shrift by him. Among the platitudes he gives out in carefully parsed syllables, the movement of his forehead and eyes betray the spirit behind the façade. Yet I always look, like Yeats, for those who “had changed their throats and had the throats of birds”! What’s the rainbow trout of the year? Nut-like flavour, the eye still gleaming, with tender, flaky flesh? There are many books I could cite for different genres. The vast majority of modern writers, for all their accomplishments, lack genius, don’t really understand the art of writing, and so cannot hold my attention for long. For those who are open-minded and spiritual, “A Course in Miracles” cannot be bested, but don’t touch it unless you’re really willing to dive deep. There is no need to save the world, since it is nothing but projection; there is no world. You might experience the deepest sigh of relief, as if Atlas had cast off a burden after the Titanomachy. Paul Celan once remarked that “reality is not simply there, it must be sought for and won.” Snorkeling near the surface and blowing bubbles won’t cut it. We are living in times of great manufactured unrest, which will only heighten in coming months and years, and so I would offer a guernsey to Seamus Heaney. I had met him many years ago, alas cursorily, at a symposium at Waseda University where I was working as a Gaikokujinkoshi, an Associate Professor, where another Nobel laureate, Kenzaburō Ōe and he were giving a reading. Heaney was inspired to write “The Grauballe Man” on the basis of the bog man that he had seen in a book of prehistoric times, but the troubles in Ulster were alive in him, too: As if he had been poured in tar, he lies on a pillow of turf and seems to weep the black river of himself. The grain of his wrists is like bog oak, the ball of his heel like a basalt egg. His instep has shrunk cold as a swan’s foot or a wet swamp root. Talking of Japan here, methinks, is an aculeate observation of Japan: Cross the intersection at Shibuya Station in Tokyo on a forbidding wintry evening — touted as the world’s busiest cloverleaf — and you will feel this is Eliot’s London Bridge revisited, with quaggas (think half zebras) preserved in the tar of the five crossings; — flattened ebon bones dreaming the dreams of Pleistocene mammoths — as the mass of the dead mill past you, chasing some mirage, and often accompanied by a revenant that must have been disgorged from a Pachinko parlour. Blanched lilacs float in minarets of light beyond these bituminous quaggas, bidding the odd-toed ungulates in their psychotropic dernier cri and fuddy-duddies in theirstygian suits to sup here or buy over yonder: all tethered to their devices. One might be surprised that no cracks are forming at these arced crossings with strange requisitions folding into the hiemal air. And yet it is still more odd that so few people see this as a primped and pimped potter’s field, a graveyard for those who’ve lost their way. We’re living in an age where the multitude of the dead are pacing among us in perdurable trysts with other zombies. The above text is from one of my unpublished works; again it speaks to me – and perhaps to you – about the quiddities of this age. There is a distinct sense of zombification taking place on the planet at the moment. Is your lineage that of Dolly, or are you magnificent and free? Do you have any theories about who Satoshi is? I don’t really, though I follow the haughty chit-chat at times, especially in the jejune forums LinkedIN provides. I think the person has a good reason to remain concealed (forever), but that is also a major factor why I have never fully trusted bitcoin as an investment proposition. Keeping the provenance concealed suggests a number of things, none of them conducive to embracing bitcoin as a common form of payment. What do you think about the prospects of gold in connection with the uncontrolled money printing by different Central Banks? Gold is what BTC can never become, especially when its provenance remains totally unclear – as well as its likely endgame! Central Banks engage in quasi-criminal activity – and one hopes the future prudent regulator won’t be making it too difficult for people to hold gold bullion. The Perth Mint might be a splendid little dot on the global map, but beware of holding your assets in the form of gold coins: many governments will regard them as forms of payment, and may impose all manner of restrictions on the possession of it. Let's dream a little. How stablecoins can be used after 5 years from now? I believe the great RESET is coming – even Davos and the U.N. are alerting us to that. The Covid19 panic has been declared by more than 1500 German physicians as a “global Mafia-style deception”, and while Big Pharma and Bill Gates will likely earn trillions of dollars by the useless and potentially dangerous vaccines that will be foisted on “free” citizens, the finance system as a whole will need to be RESET. We are already receiving an inkling of how draconian and void of reason and concern for the people most governments of the world are reacting to a harmless lab-manufactured virus (virologist Prof Luc Montagnier, Nobel Laureate in medicine in 2008, said that), so it’s possible that regulators may become more tyrannical, and under some pretext or other forbid the use of alt-coins. STABLECOINS can be over-collateralized, allowing absorption of pricing fluctuations, but it will be hard to call. I believe many are bound to fail, and that even earlier, despite all their most valiant efforts: as soon as the RESET comes, which is likely to come with all manner of encumbrances. There are many reasons for the issuance of stablecoins, some having opposing views, but all are dependent on trust – and we don’tknow yet if digital currencies that governments will issue will by regulatory over-reach (including absurd compliance requirements) displace other contenders, but you can assume that the tyrannical forms of governance we are currently experiencing suggest that all kinds of skullduggery are possible. Do you see the problem of fiat stablecoins in the fact that annual inflation constantly depreciates them? An investor who bought $1000 USDT now and sold these tokens in 10 years for $ 1000 will receive much less money. The problem occurs if we’re converting things back into payment forms that are fundamentally flawed. Inflation and Black Swan events are the major threats to stablecoins, and tethered crypto-values to natively burdened propositions recalls my earlier idea that we have not yet cut the umbilical cord to bitcoin. On the other hand, stablecoins in their current flavour are perhaps best viewed as transitional schemata that will need later revisitation. You are a very successful Crypto and ICO Advisor, what is the secret behind this success? I’m not sure if I’m very successful, but I always try to shoot a straight ball. Here are two instances where my input has not been heeded in any way. I recall one of the first ICOs I advised. I was sitting with the owner on a Telegram Channel, and after some power Q&A sessions online, we were literally hearing the millions of dollars tumble in neat digital hashes into the inbox within a couple of hours of the ICO opening. He had a bottle of Scotch on his table, and by the end of the session he had reached his hard cap and was besotted to boot! The age of digital money had placed the foolscap on his pate, but the script was no longer legible. I cannot determine if his sobriety ever returned. The prudential advice I had been giving him previously – and that we had discussed in great depth -- was over coming weeks thrown out of the window, and I assume other bottles of Scotch ended up on his desk and didn’t last long. Here is another example. At one time a well-known ambitious individual in the U.S. cryptospace, a young lawyer, asked me if I wanted to start a crypto compliance organisation with him. When I think of him now and the feathery assistants he congregated around him, I think of the lines in Dickens’s “Bleak House”: “Mr. Tangle’s learned friends, each armed with a little summary of eighteen hundred sheets, bob up like eighteen hammers in a pianoforte, make eighteen bows, and drop into their eighteen places of obscurity.” Simply to continue serving wine from the same sour vats won’t do. I saw that as a prospective idea, and offered some important advice to get the ball rolling. Soon we had recruited many eager beavers to the exercise, and there was talk of it becoming an influential body. I was naïve enough to assume at the time that my co-founder, a black college asketballer with body tattoos who had a write-up in a major paper on account of his ambition and aggression, was actually interested in asking some fundamental revisionary questions about compliance in relation to the freedom of the citizen. When I suggested we don’t just copy the traditional compliance template and rather probe more deeply, he became insolent and very aggressive. That confirmed my instinct that most ambitious players in the crypto-space are actually dyed-in-the-wool bourgeois, and don’t care about improving the system itself. What is your advice for upcoming Crypto startups and investors? You might know the technology well, but do you know the business? Does it really deeply address, even solve, a problem? How much life experience do you have, and how well do you know the market? Can you create a market for your product or services? If yes, how will you do that? Have you only got yes-men around you, or are you willing to listen to those who speak Tacheles to you? If you’ve come to water the plant of your ego, your business will flounder. Most achievers keep their ego initially in check, and get the work done. For investors the answer I would give is rather complex, but here’s a brief response: often the mandate of investors is very narrowly girded, and they trust their old boy networks, and rarely venture out and follow their instincts. That is foolish, and also the recipe for a dull life. Perhaps a general observation that everybody might ponder with profit is the idea that we know really so very little of the world; that the news and information we are are offered and digest, even when it is tendered by so-called ‘experts’, is often seriously ignorant. It seems our perspective is getting narrower all the time, as if our mind is shrinking and we block out knowledge. Let me give another current reference point. In 2020 everyone is fearful of viruses. Viruses currently have a bad rap! We have no idea what they actually are. We are always hobbling around with our fearful partisan gaze, and what is good today becomes bad tomorrow. Yet viruses are adroit and malleable messengers of inter-species DNA, in some sense regulating vast populations of organisms. Think of them as cellular simpletons: mere protein shells with few genes, but endowed with the ability to replicate easily despite their paucity of genetic instructions! They form alliances, you might say, with other forms of life. And they are deeply mysterious to our acquisitive and ignorant segmenting intelligence: how can the papillomavirus cause horns to grow on rabbits; and at the same time cause hundreds of thousands of cases of cervical cancer every year? Is one good and the other bad? It would seem so. Such simple summary, like Pinker’s reductionist view of the world, might becalm for a moment, but does not offer lasting satisfactions. To read the world along the axes of like and dislike, as the Buddha had warned us, leads to great suffering. I’m told by someone who met Bill Gates a long time ago that the man was apparently even then obsessively fearful of viruses (imagine a pendant to Lady Macbeth, continually cleansing his hands). But do we have any clue what viruses actually are, and how they benefit us all in so many incalculable ways? When the child crawls around, it picks up antigens (bacteria and viruses) and on that basis builds its immune system. At various points of that contact and exchange new forms grow, and other forms decay and die. Like CO2, viruses are suddenly declared dangerous and that we need to shield ourselves against them. Yet how many people know that marine phages rule the world, and rule the sea? This was not discovered until 1986. An electron microscope showed that every litre of seawater contained up to one hundred billion viruses, almost as much in dollars as BillGates expects to make off vaccines in 2020. If you put these viruses end to end, they would stretch out forty-two million light-years! Viruses offer stunning genetic variety, and they are the very pulse of life! When viruses swallow oceanic microbes, they release a billion tons of carbon every day: imagine squalls of marine snowfalls, powdering the porous sand of the deep. Imagine the white nights of St Petersburg under water, celebrating the magic of life with the same skill and abandon as the Mariinsky Theatre, to an audience of gastropods, deep-water fish and lovelorn mermaids. Seamus Heaney, when he passed in 2013, spoke the word Noli timere (“Do not fear”) to his wife as he breathed his last. Instead of being fearful, we might do well to assert that we understand nothing of the manifold wonders of this world! Let us cultivate the virtue of wonderment, and fear will find no habitation in our house: And lonely as it is that loneliness Will be more lonely ere it will be less— A blanker whiteness of benighted snow With no expression, nothing to express. They cannot scare me with their empty spaces Between stars—on stars where no human race is. I have it in me so much nearer home To scare myself with my own desert places. Website : https://gold.storage/ Whitepaper: https://gold.storage/wp.pdf Follow us on social media: Twitter: https://twitter.com/gold_erc20 Telegram: https://t.me/digitalgoldcoin Steemit: https://steemit.com/@digitalgoldcoin Reddit: https://www.reddit.com/golderc20/ Bitcointalk: https://bitcointalk.org/index.php?topic=5161544
AUSTIN, Texas, March 9, 2017 /PRNewswire/ -- In a world first, OZcoinGold 100% backs its next-gen cryptocurrency with 100,000 ounces of 24 karat gold. Currently 100,000 ounces of gold is valued in New alternatives to bitcoin, created in an attempt to overcome bitcoin's legacy issues, have slowed since a boom in 2017, but now Erik Finman, named as a teen bitcoin "millionaire" by the likes of The founder of one of the earliest virtual currencies has re-emerged with a rival to Bitcoin. The FT reports. E-gold founder backs new Bitcoin rival. Published Fri, Nov 29 2013 3:00 AM EST. The founder of one of the earliest virtual currencies has re-emerged with a rival to Bitcoin, more than five years after his first venture, e-gold, was shut down by the US Department of Justice. Gold Miner Pivots: Backs Blockchain Company and Starts Mining Bitcoin A Canadian mining guru, Frank Giustra, has begun mining bitcoin and other cryptocurrencies instead of just gold. He has recently backed a Vancouver Blockchain company, called Hive Technologies Inc., to oversee these mining operations and offer first-ever mining stock options.
OzCoinGold (OzGLD) - World's First Gold-Backed Cryptocurrency Reviewed
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