Kvě 28

Vitalik Buterin Asks: Does Rothschild Conspiracy Theory Extend to Crypto?

· May 27, 2018 · 9:00 pm

Ethereum co-founder Vitalik Buterin questioned the authenticity of the Rothschild banking empire after rumors emerged of its plans to enter the cryptocurrency market.


‘Old-money-type High Society People’

In various posts in the /r/ethereum subreddit on May 26, Buterin focused on the potential impact of the Rothschilds’ IMMO project, adopting a critical perspective about their presence as a market force.

Ethereum co-founder Vitalik Buterin questioned the authenticity of the Rothschild banking empire after rumors emerged of its plans to enter the cryptocurrency market.

“Are ‘the Rothschilds’ even well-coordinated enough to be worth caring about as a group these days?” he queried on Reddit.

[…] If old-money-type high society people want to make their own currencies, go ahead, more power to them; see you in the moderately-free market.

Rothschild IMMO Rumors Abound

Reports about IMMO first surfaced in the local cryptocurrency industry press last week. While all information is based on rumors and leaked information, it is thought the Rothschilds plan to create a Tether-like stablecoin which its creators would tie to gold or similar commodities.

Other theories tie IMMO to The Economist, a publication which first floated the concept of a “world currency” in the late 1980s and which is also owned by the Rothschilds.

After fielding responses from Reddit users about the knock-on effect for sentiment regarding cryptocurrency should the rumors be true, Buterin, however, remained unconvinced of the Rothschild dynasty’s providence.

“[M]y updated view after seeing the replies is that they are just people born into various old-money-type high-society positions, and the theories that they are anything beyond that are fairly baseless,” he added in a later edition of his original post.

Previous third-party experiments with Bitcoin by the Rothschilds meanwhile appeared to have no impact. In July last year, Rothschild Investment Corporation invested in the Bitcoin Investment Trust, the grantor trust sponsored by Barry Silbert’s Grayscale Investments.

Digital Currency Group, of which Grayscale is a subsidiary, has invested in multiple well-known cryptocurrency businesses including CoinDesk, BitPay, and Blockchain.

Later, in February 2018, the empire gained further exposure to Bitcoin, when Rothschild Group member Goldman Sachs acquired exchange Poloniex through Circle, a company in which it is the major shareholder.

What do you think about Vitalik Buterin’s appraisal of the Rothschilds? Let us know in the comments section below!


Images courtesy of Shutterstock, Flickr

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Kvě 22

Ethereum Certified Developer Bernard Peh on The Future of Crypto, Dealing with Regulations, and Blockbid (Interview)

· May 21, 2018 · 9:00 pm

Bitcoinist recently caught up with Bernard Peh, one of only 56 Ethereum Certified developers in the world, and picked his brain on his current project, the state of the cryptocurrency market, and what being “Ethereum Certified” even means. 


Bitcoinist: You are one of only 59 Ethereum Certified developers in the world. What exactly does “Ethereum Certified” mean, exactly?

BP: First of all, I like to congratulate B9lab for setting the golden standard in Ethereum Certification. As of today, the passing rate (based on the number of students who signed up) was about 15%. Basically, you cannot be certified if you do not have very good knowledge of Ethereum and its high-level programming language – Solidity.

In theory, being “Ethereum Certified” means that people should feel more secure with my code in the Blockchain. I have deployed many Ethereum smart contracts and I am still very skeptical of my own code due to the immutability of the blockchain. I think being certified might differentiate you from the rest, but having a paranoid attitude is required if you want to travel far in the blockchain journey. I am proud to be one of the 59 Ethereum certified developers in the world. (At the time of this interview.)

Ethereum

Bitcoinist: Tell us a bit about your new project, Blockbid, of which you are the Lead Blockchain Technologist.

BP: The purpose of Blockbid is to make cryptocurrency trading extremely attractive to traders and competitive with other exchanges. We want our exchange to be very secure and have a very user-friendly UI. Therefore, we have decided to build the bulk of the exchange in-house. This means that we have spent a considerable amount of resources in getting top quality developers. I am glad that I have the chance to work with the brightest minds in the industry.

My role is to liaise with the backend and infrastructure team to ensure that all the wallets for all our coins are implemented correctly. Our users will eventually benefit from our vision and the effort that we put in. Everyone will be able to trade with confidence on our exchange in the next few months.

Bitcoinist: What problem, specifically, does Blockbid solve in the industry today?

BP: Blockbid is being designed to help traders overcome three main issues; the inconvenience of needing to sign up to multiple exchanges, the unease associated with having coins scattered across multiple (and potentially untrustworthy) exchanges, and missed investment opportunities caused by time lapses in transferring funds between different platforms.

Blockbid is the only exchange to offer an insurance policy to protect against potential cyber-attack. Users do not have to worry about their cryptocurrencies in our exchange because they are insured.

Bitcoinist: How will Blockbid protect users’ funds against potential cyber-attacks?

BP: Blockbid is the only exchange to offer an insurance policy to protect against potential cyber-attack. Most other exchanges offer 2FA and for the majority of their liquidity to be held offline in cold wallets. While Blockbid will also offer 2FA and liquidity held in cold wallets, it is the only exchange to offer an additional layer of security in having an insurance policy.

I feel that the cryptocurrency market is still flooded with traders doing pumps and dumps. This has caused huge instability in the price of cryptocurrencies, preventing mass adoption for day-to-day purchases. Most people using cryptocurrencies today are risk-takers or people who are willing to bet money on their curiosity. I would love to see wider adoption.

Bitcoinist: Has Blockbid had to overcome any obstacles in relation to regulations? How difficult is it to comply with different rules in different regions of the world?

BP: With recent legislation last year in December being passed by the government requiring Australian exchanges to register with AUSTRAC, we can proudly say that Blockbid is only the third recipients of an AUSTRAC license, meaning they have been granted permission to legally operate as a digital currency exchange, according to Australian law. This follows on from the guidelines set out for Australian AML/CTF policies and require all our users to complete our KYC forms before trading, prior to this we were operating under the guideline of an AFSL license although now AUSTRAC has taken over as the regulatory body and has been setting the requirements and processes for the cryptocurrency industry in Australia.

In regards to complying with changing regulations in other countries, Blockbid stays up to date and monitors all news and information that would directly impact its operations offshore and acts accordingly. For example, restrictions and regulations on US or China based traders were closely monitored over the past year to ensure we operate legally and in compliance with the regulations of those countries.

Bitcoinist: What excites you most about working at Blockbid?

BP: Throughout my entire software development career, building a secure crypto exchange must have been the most challenging of all and in return, the most rewarding. There are many moving parts and many things to consider. The crypto landscape is changing very fast and the software needs to adapt to the changes quickly. We have to dissect every component and question everything. We also have a very strong team with a good rapport with everyone. There have been a lot of hair pulling moments but also a lot of laughter and I think our Chief Operating Office, David Sapper, has done a good job in gelling everyone together. I’m really glad that we value the team culture more than anything else.

Bitcoinist: What do you feel are the best ways to evaluate a cryptocurrency?

BP: There are a plethora of cryptocurrencies to choose from on the ever-expanding crypto market but there are a few things you should look out for when evaluating a cryptocurrency.

You should always check the development activity of a cryptocurrency. A coin with an active development team will be updating and patching bugs all the time. If there aren’t active developments in a particular crypto, you should steer clear.

Looking into the trading volume of a crypto can also indicate if the price will grow. There isn’t much point investing when no one else is trading it. This low trading volume will cause huge price spikes whenever some are bought or sold which is not good if you’re planning a long-term investment.

Avoid pump and dump schemes by investing in coins with larger market capitalization. Low market capitalization can easily be manipulated whereas those with larger market capitalization will require significant capital to manipulate it.

7 Steps for ICO Analysis

Bitcoinist: What are your opinions on the current regulatory landscape? Do you feel that regulators have investors’ best interests at heart?

BP: Regulation is needed to be able to distinguish the real from the fake, to avoid distrust amongst potential participants, and prevent scammers finding any kind of success. Hopefully, regulators don’t enforce harsh regulations upon cryptocurrencies and kill the market off at such an early stage of development. We will have to see if regulators and governments can embrace the blockchain and aid the growth of the cryptocurrency market.

Bitcoinist: Do you have any advice for new investors?

BP: Consumers like to take their first tentative steps into the crypto market by purchasing a currency they have no doubt heard of before, such as Bitcoin or Ethereum. However, it is key to do your research and know what ICOs (Initial Coin Offering) are happening and whether the project is viable – if it’s not, then it’s not worth your money as you could end up with nothing. This is where we need to be mindful of crypto-scams.

There is no clear indicator of when a project or coin might be a scam but there are a few red flags to be mindful of. Any reputable ICO project will have a detailed whitepaper document which details everything you need to know about the campaign. If this is not readily available, then you should ask yourself why. To this effect, it is once more where research becomes a great tool. Look into who the team is behind the project, what is their experience and what are they hoping to achieve. Scams and crypto thefts are increasing and are becoming more widely documented, and so we are seeing crypto exchanges beginning to form self-regulating tightening their regulations

Bitcoinist: What do you identify as the most significant problems in the cryptocurrency market today?

BP: The risk of a data breach is a common one faced by crypto exchanges. Playing host to a large scale of sensitive information, it is possible for company and user information to be accessed, without permission, through mining malware activity and DDoS attacks. The use of mining malware allows hackers to hijack a computer’s resources for mining cryptocurrency, resulting in a diminished processing power which enables fraudsters to make a speedy profit.

Bitcoinist: What solutions do you propose to the problems you mentioned?

BP: The solution would be for greater security protocols and more regulation within the cryptocurrency sphere – although this can only be executed efficiently through a comprehensive understanding of the digital landscape. Without this understanding, exchanges and traders are left vulnerable.

Let’s be honest; cryptocurrency is a technical subject. To use it confidently, you do need to have some technical understanding of how it works. We feel that educating the public on the technology is important. For example, most people do not know what is happening when they transfer one bitcoin to their friend. They might get panicked when their bitcoin didn’t get through to their friend after one hour and then got bombarded with terminologies like confirmation times and transaction fees when they raised a support ticket. We like to have a personal relationship with our clients and hand hold them from the start to the end of the process.

Bitcoinist: Where do you see blockchain technology in 5 years?

BP: Blockchain is already a household name. You see this word being used in almost all tech conferences today. A lot of funds have been poured into making blockchain scale and once we can hit a few thousand transactions per second, we are ready for global adoption. When that day comes (in the next five years), blockchain technology will be used everywhere, from personal identity to buying things online. Coupled with AI and Smart Contracts, there will be no longer a need for a middleman, cutting cost and saving time.

Do you have any other questions for Bernard Peh? Ask them in the comments below!


Images courtesy of Shutterstock, Markus Spiske/Unsplash

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Kvě 16

Move Over Ethereum: RSK to Enable Smart Contracts on Bitcoin Blockchain

· May 15, 2018 · 7:00 pm

Smart contracts and off-chain computing are coming to the Bitcoin blockchain, thanks to a partnership between RSK and iExec.


RSK to Add Smart Contract Functionality to Bitcoin

The RSK project — which aims to build Turing-complete smart-contract capabilities for the Bitcoin blockchain — is partnering with iExec in an effort to provide off-chain computing to Bitcoin applications and afford decentralized applications the ability to access on-demand and scalable cloud computing resources.

According to a Medium post from iExec editor Wassim Bendella, “the developers under RSK aim at adding value and functionality to [Bitcoin’s] ecosystem by enabling smart contracts, near instant payments and higher scalability.”

This seemingly makes RSK the first general purpose smart contract platform secured by the Bitcoin network, as it uses BTC as its native currency via a 2-Way Peg system. Said system guarantees a fixed conversion between SBTC and BTC at a ratio of one-to-one.

At the same time, iExec is busy developing the self-proclaimed “first blockchain-based decentralized cloud computing network,” which “allows participants who need computing power to meet those who own computing power, thus supporting the most compute-intensive blockchain applications.”

The Bitcoin blockchain is not only the originator but the most battle-tested on the planet. By joining forces, the two companies are pushing the tried-and-true Bitcoin blockchain even further into the future.

The next update from iExec will be coming this month. On Max 29, iExec is slated to release its V2, which is comprised of a decentralized marketplace for the trading of cloud resources. Explains Bendella:

Once V2 is made compatible with RSK as a next milestone, RSK applications and their smart contracts will be able to access the same decentralized cloud that Ethereum dapps make use of. Compute-intensive applications in the fields of fintech, artificial intelligence, scientific research or gaming will be able to leverage these resources, making RSK and iExec the backbone of the Bitcoin ecosystem.

What do you think about smart contracts on the Bitcoin blockchain? Does the prospect of off-chain computing for Bitcoin applications excite you? Be sure to let us know in the comments below!


Images courtesy of Pixabay, Twitter/@RSKsmart.

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Dub 28

4 Reasons Why Vitalik Buterin is Boycotting Coindesk’s Consensus 2018

· April 28, 2018 · 5:30 pm

In a series of tweets, Ethereum’s inventor Vitalik Buterin stated that he intends to boycott the 2018 annual blockchain summit organized by Coindesk – Consensus 2018. He went on to outline a few of the reasons for his decision, strongly urging others to do the same.


Buterin wasn’t too kind on Coindesk-organized Consensus 2018 conference, blasting the cryptocurrency news site, tweeting that the platform is “recklessly complicit in enabling giveaway scams.”

Apparently, the first reason for Vitalik’s boycott was the fact that the cryptocurrency news website posted an article, linking directly to a giveaway scam. The link led to a phony site, claiming to be the official blog of OmiseGo and it said that the latter is going to do an airdrop of 0.3 OMG tokens for each token the user owns.

Buterin goes on to say that this obvious scam went on undetected by the media’s radars, despite the fact that he had previously warned about instances of the kind. His position is that the lack of proper investigation or, in his own their “ignorance/stupidity” further legitimizes “twitter scams.”

It’s worth noting, though, that CoinDesk went on to remove that part of their story, adding that:

UPDATE: This article has been updated to remove a link to a fraudulent website that was misrepresenting OmiseGo in an effort scam users. CoinDesk regrets the error.

Nevertheless, at this point it became obvious that the damage was pretty much done, leading to OmiseGo sharing Buterin’s position in not attending the conference. Their sentiment on the matter was also expressed in an official tweet:

As a reason number two, ethereum’s founder pointed out the lack of proper coverage of EIP 999.

Ethereum Improvement Protocol 999 (EIP-999) was a proposal that would have freed up some 513,000 ETH which were previously frozen in 580 Parity Library Contract wallets after a bug that was written by a developer last year in November. The community went on to vote against the proposal.

CoinDesk covered the event with an article on Wednesday, and, needless to say, Buterin wasn’t really happy with it.

When the piece was first posted, its lead sentence read “Ethereum may be on the brink of a blockchain split.” It has since been changed to the much more hushed “Ethereum appears to be at a notable crossroads on technical direction.”

Buterin’s concerns also include the media’s failure to include the feedback that they had requested from one of Ethereum’s developers Peter Szilagyi.

It’s worth noting that the piece has since been updated, including an UPDATE section at the top and linking to the statements of Szilagyi. Yet, Vitalik’s sentiment remains unshaken:

Next, he outlines that CoinDesk’s reporting policies are riddled with “gotchas” and “traps.” Posting a screenshot of the website’s “off the record” policy page, Buterin tweeted:

Now, in all fairness, it does seem that Buterin doesn’t seem to have taken his time to research the matter. The page clearly says that if the journalist that is being addressed hasn’t previously agreed for a certain statement to be off the record, it will remain on it.

Therefore, when approaching a journalist with a sentence such as “this is off the record, but I want you to know that…” doesn’t mean that it has to stay off the record as the journalist hasn’t given his consent yet. It’s a common practice adopted in all serious media websites and publications.

Last, ethereum’s founder bashes the price of the Consensus 2018:

Price is always a subjective matter, so whether or not it’s high is left for the atendees to decide.

Do you think Buterin is right to call for a boycott of CoinDesk’s Consensus 2018? Please let us know in your comments below!


Images courtesy of Flickr, Shutterstock, Twitter

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Dub 08

Limited Edition Ethereum Pens: Cryptocurrency’s Second Ever IPO (Initial Pen Offering)

· April 8, 2018 · 3:30 pm

Did you miss out on Ancora’s first ever Initial Pen Offering (IPO)? Wish you could’ve gotten one of those fancy Bitcoin Pens at a 50 percent discount? Well, if that’s the case, you won’t want to miss out on the luxury pen maker’s second IPO — only this time, it’s for the Ethereum Pen!


A Class Above

Founded by Giuseppe Zanini in the first half of the last century, Italian luxury fountain pen crafter Ancora has defined what it means to write with elegance and class. The company has always taken a quality over quantity approach to their collectible pens. As such, Ancora is known for producing some of the most beautiful, well-crafted and luxurious pens on the face of the Earth.

The company has already successfully crafted and sold limited edition Bitcoin Pens via the world’s first ever Initial Pen Offering (IPO). Now, Ancora is ready to launch a second IPO — this time, for limited edition Ethereum Pens.

As was the case with the company’s Bitcoin Pens, Ancora will be offering a limited supply of 888 rollerball Ethereum Pens, and a mere 88 Ethereum Pens of the fountain variety. Each pen comes with a personal production number etched into the bottom, verifying authenticity. Unlike Ethereum, the maximum supply of Ethereum Pens will remain capped for all time.

Each pen is specially handcrafted by an expert artisan penmaker, resulting in quality vastly superior to those found pumped out by factories. Owning one of these pens is a signal of superior class and style.

A Class Above

The Second Ever Initial Pen Offering (IPO)

As was the case with the company’s Bitcoin Pens, Ancora is following the traditional ICO (Initial Coin Offering) format for the sale of their luxury cryptocurrency-themed pens.

The pre-production stage is set to begin on April 8 and end one month later on May 8. During this time, customers purchasing the Ethereum Pen will receive a 25 percent discount from the production stage — and a whopping 50 percent discount off the full retail price.

Following the pre-production stage will come the production stage which will run from May 12 until May 27. During this time, customers can purchase the limited edition pens at a 40 percent discount from their full retail price.

In addition, some of the Ethereum Pens being offered are exceptionally rare, with production numbers etched into the bottoms of those pens in genuine platinum, gold, and silver.  All of the Platinum, Gold, and Silver series pens come with a customized leather pen case. 

Of course, Ancora isn’t going to stop at just Bitcoin and Ethereum pens. The company currently runs a Telegram channel, in which users can vote for which cryptocurrency they’d like to see immortalized by pen next. Ethereum obviously won out during the last vote, but not too far behind were Bitcoin Cash, Ripple, and Cardano. 

Ancora’s limited edition pens are available for purchase with Bitcoin, Ethereum and fiat currencies. However, if you want one of the ultra-rare platinum, gold, or silver pens, you’ll need to pay with digital currency only. 

For more information about Ethereum Pens, please visit eth-pen.com. To learn more about Ancora, please go to ancora1919.com. 

For real — who doesn’t want one of these luxury cryptocurrency pens? If you missed out on the Bitcoin Pens IPO, don’t miss out on the Ethereum Pens IPO. Let us know what you think in the comments below!


Images courtesy of Ancora

Bitcoinist does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions related to the company.

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Bře 27

Blockchain Games: A Surprising New Player in The Industry

· March 27, 2018 · 3:00 pm

Innovation in the blockchain industry continues at a relentless pace. New projects involving existing blockchains have begun to be created, allowing for the tech’s gamification. On-Chain games or decentralized application (DApps) such as Cryptokitties have captured the attention of many in the blockchain industry.


The advent of the cryptocurrency space in recent years has created a booming new market that has sparked a lot of innovation in the sector. The common blockchain startup has been to create ICOS as a medium for startups to generate capital. However, the new trend has been to create dApps on existing networks. These dApps range from payment networks to games based on blockchain technologies.

These so-called ‘blockchain games‘ have been touted as a new way blockchain innovators can interact with a growing user base. However, some question the viability and safety of these games.

CryptoKitties: What Are They?

CryptoKitties: What Are They?

In December of last year, the Ethereum blockchain was overrun with requests. Transactions that had once taken minutes to confirm began to take hours as users of the DApp game CryptoKitties began fostering their kitty collections. Users rushed to create and trade these cats as the project began to roll out. This may lead you to the question: What are CryptoKitties?

CryptoKitties is one of the first on-chain and widely adopted blockchain games. The game consists of digital kitties facilitated by a smart contract on the Ethereum blockchain. In the game, you can buy, sell, and breed cats using the smart contract.

Each CryptoKitty is unique with its own personalities, traits, and physical characteristics that allows it to be differentiated from other kitties. Players are incentivized to breed kitties in attempts to find rare traits which are unique to certain kitties. This just sounds like a way to spend free time, not money right?

Well, the game is far from free. Transactions for the CryptoKitty game have to be maintained by the Ethereum based smart contract which requires Ethereum.

So why do players agree to spend Ethereum on the game?

Players are incentivized to do so by the chance of real profit when they breed and trade cats. As mentioned previously, kitties can obtain certain rare traits which become very valuable in the CryptoKitty marketplace.

How much profit are we talking about, you ask? Well, as an example, the original CryptoKitty sold for over $110,000 worth of Ethereum on the native CryptoKitty market. So do not get these games wrong, there often can be a large sum of money involved.

in an attempt to help grow and improve the CryptoKitty platform, the team has requested funding and has succeeded in raising over $12 million dollars. This funding will go to the developers to help foster innovation, which should help the CryptoKitty platform to grow even more.

Other promising blockchain games have begun development and certain projects have only become even more engaging while still remaining ambitious.

Ethermon is another game that allows players to interact with the Ethereum blockchain. Ethermons are in some sense similar to the popular card game, Pokemon. The object of the game is to capture, trade, and use these in-game characters to battle each other. Like CryptoKitties, these digital creatures can be traded for a profit or a loss using Ethereum. Similar to the CryptoKitty application, Ethermon was a nice addition to the DApp/Blockchain game sub-industry.

Blockchain Games: A Worrying Trend or an Exciting Leap Forward?

Blockchain Games: A Worrying Trend or an Exciting Leap Forward?

Some cite the CryptoKitty craze as accounting for over 30% of the transaction volume in the Ethereum network at its peak with other Dapps coming close behind. In direct correlation to this, after the deployment of the CryptoKitty smart contract, unconfirmed transactions on the Ethereum blockchain increased more than sixfold according to Etherscan statistics.

While the increase in unconfirmed transactions has caused concern among some members of the blockchain community due to the popularity of the game affecting the efficiency of transactions on the network, others take a far more optimistic view.

Arthur Camara, a developer with CryptoKitties parent company Axiom Zen, stated:

We think that blockchain games unlock new categories and possibilities. […] With blockchain, gaming suddenly becomes open, transparent, portable and extensible.

The industry is still in its infancy but in order for blockchain-based games and other gamified DApps to succeed, developers will need to find a way to be innovative without adversely affecting the efficiency of the current blockchain networks.

What blockchain games do you think are going to succeed? Do you have any ideas which you think will be successful as a blockchain application? Tell us down below in the comments.


Images courtesy of CryptoKitties, iStockPhoto

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Led 26

Katy Perry Showcases Her Crypto Claws

· January 26, 2018 · 7:00 am

Katy Perry is the latest celebrity to jump on the cryptocurrency bandwagon, recently posting an image of her crypto-inspired nails.


You know a particular thing has hit the mainstream when you see celebrities flocking to be associated with it. In their never-ending quest to stay in the public eye and remain relevant, they’ll glom onto the latest trends and hold on for dear life. The latest example is Katy Perry, who has definitely jumped onto the Bitcoin and digital currency bandwagon. She recently posted an Instagram image of her cryptocurrency-themed nails.

Bitcoin Going Hollywood

In her Instagram post that’s captioned “$—CrYpTo ClAwS—$,” Katy Perry sports some eye-catching fingernails. Her nails are embossed with the symbols of some of the most popular cryptocurrencies out there.

Naturally enough, we see Bitcoin taking center stage on one hand. Her thumbs boast the popular Ethereum cryptocurrency, and her remaining digits feature the likes of Litecoin, Stellar, and Monero.

This isn’t the first time Perry has flirted with cryptocurrency. Back in November 2017, she posted an image of her talking to investor Warren Buffett. In the post, she says that she’s asking Buffett his thoughts on cryptocurrency. (Hopefully, she did not follow his advice.)

Celebrities and Crypto

However, Katy Perry is certainly not the first celebrity to jump on board the crypto bandwagon, and she definitely won’t be the last. Floyd Mayweather was one of the first celebs to tout crypto by hyping the Stox ICO. He later pushed digital currencies by posting an image of him holding a Titanian Centra debit card, which is a card for various cryptocurrencies, while in an upscale shoe store.

The saddest case of a celebrity tying themselves to Bitcoin and other cryptocurrencies is Paris Hilton. She hyped the ICO of a marketing platform called LydianCoin. However, she quickly deleted any endorsements after people pointed out that the person behind the project had been convicted of domestic assault.

Chances are that we’ll continue to see celebrities pushing themselves onto the crypto scene. Some may have a legitimate interest, but the majority will probably be doing it for the publicity. However, one wonders how many crypto projects will pay for celebrity endorsements in the future. ICOs raise a ton of cash, some of which could be used to hire a famous spokesperson.

What do you think about Perry’s crypto claws? Will we see more celebrity endorsements of cryptocurrency in the future? Let us know in the comments below.


Images courtesy of Instagram/@katyperry, Twitter/@FloydMayweather, and Wikimedia Commons.

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Pro 30

Crypto Movers and Shakers of 2017

· December 30, 2017 · 5:00 am

This year has been nothing but monumental for cryptocurrencies and the blockchain industry. Maybe we will look back on it in years to come and see 2017 as the genesis of a new way of blending business and technology. 2017 could be seen for crypto as 1995 was for the internet, when things really started to take off. Bitcoin has been around since 2009, although, for many years, it has been seen as largely a geeky thing to mine and invest in. The king of crypto has only hit the mainstream in the last few months, but it has cemented its place there.


Bitcoin and its various forks aside, this piece will focus on the altcoins which most of us hadn’t even heard of at the beginning of the year. There has been a digital explosion in ICOs in the past six months, with blockchain companies mushrooming out of nowhere and conjuring up solutions to real world issues. Some coins are just that, virtual currencies, but some try to break the Bitcoin mold of digital money and offer innovative new technology for data management and distributed ledger applications.

Genesis mining ethereum

Ether Rising

Ethereum has to be right up there with game-changing cryptos for the past year. The decentralized application platform has jumped from relative obscurity in January, trading at $10, to a whopping $700 today. The 7000% increase in Ether this year has secured it the second highest crypto currency by market capitalization with $70 billion for most of the year. Big things could be in store for ETH in 2018 when the platform is upgraded, scaling issues are solved, and more applications start using it.

Another coin that has made big moves in 2017 is Ripple. Many traders are skeptical about this one due to its close ties with traditional financial institutions and banks. However, these connections have just propelled the altcoin to second spot in the market capitalization charts. XRP was pretty much unknown at the beginning of the year, trading at $0.006, but it has since skyrocketed to over $2.50, where it currently trades due to a number of deals with major banks and credit card companies. The XRP blockchain will be used as a faster, more secure, and efficient way of inter-bank transfers. If it becomes the standard for such transfers, that price is sure to continue upwards.

Litecoin

Litecoin Lifted

Another one of 2017’s champions is Litecoin, which is often referred to as the silver to Bitcoin’s gold. LTC has made epic moves on the tail of its big brother, trading around $4 in January to over $240 today. Compare this 6000% rise to Bitcoin’s 1500% and it is clear that the altcoins have made bigger moves. With an improved blockchain affording faster and cheaper transactions, Litecoin is destined for greater acceptance in 2018, which will no doubt send that price higher than the record $375 it reached earlier this month.

Dash has also had a very good year, starting out at around ten bucks in January, and motoring to dizzying heights of $1,500 in mid-December before pulling back to around a thousand. The popularity of Dash arises from its security and privacy, and anonymous coins will be in increasing demand throughout 2018. Dash could go higher in the new year, as could similar cryptos, such as Monero, Zcash, Zcoin, and Verge, who are all heavily weighted towards privacy.

dash

There are too many altcoins to list in total, and nearly all of them have increased in value exponentially since the beginning of 2017. Some are destined for greater things in the coming year. Keep an eye on Iota, Cardano, Neo, Nem, Stella, Qtum, Lisk, and OmiseGO. Invest wisely and always do your own research.

[Full disclosure: The author of this article is a holder of multiple altcoins.]

Will you be increasing your altcoin portfolio in 2018? Let us know your favorites in the comments below. 


Images courtesy of Bitcoinist archives and Pexels.

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