Pursuing financial independence in a third world country. What do you think?
Hi guys. I’m a 26yo woman from Iran. I’m a freelance translator. I know 3 languages. I learned it all by myself. I quitted the college when I was younger, so I’m just high school graduate. But I was so good, I’ve translated books (stephen king and brandon sanderson novels) and got them published anyway. Publishers in Iran don’t pay much though. You know It breaks my heart that I have to live here. Everybody is very scared. Things have been going really bad in the past 4 years. Everything doubles in price every 2-3 months. Our currency is so valueless, that our average monthly salary in dollar is 100 to 150. I feel like I can’t protect my money from inflation and shit. I turned all my excess money to golden jewelries. I don’t trust islamic banks. And investing is full of risks here. It’s a complete chaos. You can’t imagine how high is fraud rate. Also immigration is very hard for us. But I really wanna get out of here. I don’t wanna live in permanent distress. I sometimes think I might not find happiness and abundance even in an advanced country. Cause I come from an origin of lack, Being scared of poverty and not knowing what to do. As a woman in third world country, I have much more problems than just finances. I don’t know if I chose the right community to post this. But I want you to help me and tell me what you’d do if you were me. I appreciate any advices.
Monero is mentioned on one of the largest german stock portals
I couldnt believe my eyes when i saw it. Basically this a lead article on the splash page of Onvista.de, a huge german stock/bons investment portal. It begins with Quotes by ECBs Lagarde in regards to a digital euro, then makes a jump towards bitcoin and states bitcoin is completely unreasonable in terms of being a digital payment vecicle. And then it specifically mentions Monero not once but twice, and no other CC whatsoever. Relevant parts, translated by google translate
From my point of view, Bitcoin would be a very good digital replacement for gold. It would not be an option as a substitute for cash in payment transactions. However, it doesn't have to be Bitcoin either. There are other digital currencies available today that would be even more suitable. Monero, for example.
Monero would not only have the advantage that the network is much faster than the Bitcoin network. It is also completely anonymous. So if you bought a pack of gummy bears with Monero yesterday, you don't have to worry today that the woman or man will find out and scold you.
Microsoft patent 2020-060606 linking human brain to crypto payment system
Microsoft filed a patent 2020-060606 on June 20, 2019 for the link between the human body and the crypto payment system. It is a cryptocurrency mining system that uses human pulses such as brain waves and body heat to perform online tasks such as using search engines, chatbots, and reading ads. "A user can solve the arithmetically difficult problem unconsciously," says the patent. In fact, this is a very brief description of a brain computer interface, which can read and write electromagnetic signals from the brain at such a finely meshed level that the brain literally becomes a biocomputer in a network. To understand that, please watch the video below and read on below. This is necessary so that you understand the current technological state of affairs. Steve Hoffman - Brain Hacking & MindTech - Produced by DingDingTV How cryptocurrency works The aim is that we are collectively hung in a hyve mind and it seems that what with crpyo-currency like Bitcoin still had to be done on energy-guzzling mining servers, can now be filled in by the “human bio-computer”. The unique thing about blockchain payment systems was that as soon as you took a so-called wallet into the network, your computer formed a block in the network, where your computer receives a kind of calculation program that calculates the security key of a coin. All computers on the network must then come up with the same key as confirmation. If the entire network sees a transaction of a coin, all those keys are checked and if one is different, the transaction is illegal and rejected. That would create unhackable security. The problem, however, is that Bitcoin mining requires a lot of computing power and that requires electricity. That's why Bitcoin mining ended up being one of the most energy-guzzling industries in the world. The Microsoft patent seems to aim at making this blockchain principle, which is not only very energy-guzzling, but also puts a heavy burden on the internet in terms of bandwidth (after all, all computers in the chain must always be checked for positive encryption), superfluous to make. Simply put: Microsoft wants to use the human brain as a block in the blockchain. The 5G network will provide sufficient bandwidth to realize this. Link digital ID, vaccination ID and social credit system: The coronavirus pandemic provides the perfect alibi for the introduction of such a system. In concrete terms, this means that a score of your behavior (expressed in points) will initially be kept in the cloud. If you stick to the rules, you can take public transport or plane. If you don't follow the rules, your score will go down. The upcoming social distancing apps are a precursor to such a behavioral scoring system. After all, if you do not keep enough distance from potential infections, you have to quarantine at home. We also see China taking the lead there. Watch the video below and then read on. Wuhan coronavirus covid-19 totalitarian UN propaganda? Although Bill Gates officially retired from Microsoft's board this year, we can guess who the big driving force behind patent 2020-060606 is. Of course, I need not point out to the attentive reader that we recognize here the Biblical number of the mark of the beast from the Bible book of Revelation: 666. It states that the time will come when no one will be able to buy or sell without to bear 'the beast'. This under the statement that this number is six hundred and sixty-six. The same Bill Gates is behind the ID2020 initiative that wants to develop a digital ID for vaccination registration. If you combine such a digital ID hallmark with a digital passport (ID) and with patent 2020-060606, then you have completely enslaved people. Revelation 13: 16-18 16: And it causes it to give a mark to all, small and great, and rich and poor, and free and servants, on their right hand or on their foreheads; 17: And that no one should buy or sell except he who has that mark, or the name of the beast, or the number of his name. 18: Here is wisdom: let him that have understanding count the number of the beast; for the number of a man is, and his number is six hundred sixty and six. The "Official Gazette of the Kingdom of the Netherlands" announced on March 31, 2020 (“coincidentally”) change in law that allows a digital ID. Translated: Kingdom Act of 6 March 2020 amending the Passport Act in connection with the introduction of electronic identification with a public identification means and the expansion of the basic register of travel documents. We Willem-Alexander, by the grace of God, King of the Netherlands, Prince of Oranje-Nassau, etc. etc. etc. All who will see or hear it read, salute! do to know: Thus We have considered that it is desirable to amend the Passport Act in connection with the introduction of electronic identification with a public means and the extension of the basic register of travel documents; The consequences: So if we don't wake up in masses now and discover that we are witnessing a Psychological Operation that fully complies with the master script, then there is no escape. Then we cannot buy or sell anything if we do not meet all the requirements of the state. And to all, it really means all. Making a minor offense once has immediate consequences. Not cooperating with the vaccination obligation (think Bill Gates) will definitely mean the end of being able to travel and participate in society at all. You should consider the most basic things such as being able to buy food and drink. We must step out of our programming and know that we are sovereign. Please read the article from the official journal above again. In it you see that you can fully rely on your consciousness sovereignty. You are sovereign by nature and no law can bind you to anything. It says "We Willem-Alexander, by the grace of God". Now let him prove "that grace of God". Every law is signed by the king by the grace of God. There is no evidence whatsoever of this and so the law does not apply. The only problem is the fact that social systems have built up around that grace of God, to which many swear allegiance. Do we sit back and relax until we are swallowed up by the system of "the internet of things" by the grace of God, or do we activate ourselves to concrete things? Concrete matters means that we have to switch from passive to active and discover who we are in potential and in essence.
I just wasted 15 minutes debunking some new hit spreading in COVID-sceptic community, so I share it here, so you don't have to.
One of my conspiracy-theory prone friend has sent me a movie clip and asked what I think about it. As usual, I decided to make a quick research, and it turned out pretty quickly, that I can say something about it. So since I wasted 15 minutes for it, let me write it up for you, so you don’t have to do it. So what is the movie I am talking about? We see a table in some obscure classroom. Behind it a row of people is sitting, with each of them displaying a tiny country flag in front of them. A lady introducing herself as Elke de Klerk speaks. On behalf of Dutch doctors she informs us, that COVID pandemics is a fake, and that they are going to sue Dutch government for harming people with their anti-pandemics activities, or something. Sorry, I haven’t been listening too carefully. Instead of that, I put my web search engine for a good use. And this is what I found:
no mainstream or even somehow reliable media outlet covered that as a story (unless we generously count a portal of Polish radical right). I found one article in Dutch in some strange source, which pretty much impartially relates the story. That confirms that Elke de Klerk might be real, as they say about her. They merely confirm that she is seeking other doctors who want to join her in suing the government.
the clip firstly appeared at websites such as infowars. You know, the one spreading extreme right-wing propaganda, let’s agree that it is not the most reliable source. Other sources are of similar provienience.
the movie is watermarked by Oracle Films. Very little is known of that company. They have a simple website where they write that they offer media services for krypto-currency industry. (It could mean that they themselves take Bitcoin payments. Handy if you don’t want to know who paid for it, right?)
internet websearch for practicing doctors in the Netherlands does not know anyone called de Klerk. The web search does not show any researcher of that name either. There is Elke de Clerck at Gent University, but I found her photo and she looks nothing like the lady from the clip. Also, Gent is in Belgium, not in Holland. There is also Elke de Klerk in Belgium. She practices as a GP on the outskirts of Antwerp. In the Dutch article I mentioned above you can read that Elke de Klerk has no right to practice as a doctor in the Netherlands and that she has been trained in Belgium, so that can be her. It is suggested that she has no right to practice in the Netherlands, but it does not say if she hasn’t nostrified her diploma, or if she was stripped of it.
when Elke de Klerk finishes, another lady takes the microphone (or, to be frank, an old model of Zoom voice recorder – I recognized it, as I have an identical one at home. Very professional, Oracle Films, good job!). This lady is really easy to find, it is indeed professor Dolores Cahill from Dublin. You might heard about her in July, when she was kicked out of her job for spreading anti-science nonsense in the interview with right wing Youtuber. Interestingly enough, Dolores Cahill is also a politician – she is one of the leaders of radical right, anti EU party in Ireland. The fringe party with no parliamentary representation, which comes not as a suprise when we remember that over 90% of Irish people are happy to be in the EU. She is also anti-vaxxer pro-epidemic and she is a speaker on the Irish anti-mask wearing marches.
So much for facts. Now, let’s use pure logic and think: what is more probable: – COVID is a sham, but someone managed to bribe practically every doctor on this planet and thousands of scientist, so they falsify data. Millions of people fell for it, and they believe it so much, that some even get sick or die of COVID-19 or – someone found a few people related to medical science in this or that way and/or made them to record that clip, in which they tell COVID-19 is a sham, so people oppose the governments, that already struggle with tackling the pandemic, in hope to even more destablization of the politics in the EU, which makes a certain guy in Kremlin happy. William of Ockham aks if you want to borrow his razor?
To sum it up: the COVID is not a fake. This is just a movie clip spreaded by radical right as a part of their disinformation campaign in hope to destablize European politics even further. Don’t fall for it: as conspiracy theorists will tell you: think for yourself. But be skeptical and critical: check sources of everything before you propagate it further on the internet!
Información en DASH : Estrategia elemental para cronificar SIN CURAR una jerarquía ponzi y sus parásitos.
u / dnale0ru / dashcryptou / DashUncensored It is not possible to add posts about censorship suffered in the thread anchored at the beginning of this reddit and it is important so that the open files do not sink to the bottom of the list. If you still come to this reddit, please open it.____________________________________________________________________________________________________ Information in DASH: Elemental strategy to chronify WITHOUT CURING a ponzi hierarchy and its parasites.( Development of the facts and presentation / monitoring of the corruption of the Valenzuela parasite and the repressive, intoxicating and corrupt strategy of the kidnapping elite of a deeply corrupt project ) With no prior breach of rules, I was banned by Valenzuela on the Dast Talk discord (probably the most unworthy parasite on DASH's infographic distortion channels - whose only contribution to the project and the reason for their alms is the information intoxication of the existing supporters to hide the endless defaults and incapacities of the project managers ... and the deception of new users / capital contributors to parasitize through the extractive structure by DASH-) for quoting a video of his (in the line of ignorance, cosmetic propaganda and habitual vacuity ) of an irrelevant interview with two inhabitants of the Ponzi (of absolutely empty perspectives too). Anyway ... an hour of topics, inaccuracies and brain death live ... nothing new. As the manipulation of the censoring cockroach Valenzuela is so evident - And as here I will not refer to the census rules of the official channels of the project nor do I need to save the forms to show a respect that I lack for the legion of parasites that, installed ponzi created, expand the metastasis of crap and repression that allows the entire cascade of incapable bummers to continue sucking) I copy and paste ALL the crossing of the message clarifier: Purpelado12 / 10/2020 https://odysee.com/@DigitalCashNetwork:c/Dash-Podcast-156:5?r=FqowB2QREmrBV4DcLpAWb8cz2K4gYVUV u/TheDesertLynx ... when you make economic references ... (and I mean both these and the rest of your past expositions on economic aspects of DASH) ... are you really convinced of what you say? The whole interview is a succession of (let's be nice and not say "manipulations") glaring inaccuracies. But as a sign of DASH's wacky economic approach, it works. TheDesertLynx12 / 10/2020 u/Purpelado do not mention or address me again, this will be considered harassment. Thank you \* Purpelado12 / 10/2020 And that in what libertarian code is it written? There is nothing to consider personally beyond some analyzable approaches like any other. (for my part, of course). *\* bigrcanada12 / 10/2020 Thank god i can't understand his English. **\* >>>>>>>>>>>>>>>>>>>>>>>>>>>>>> 5 days later, the kindergarten guru (or a neighborhood tavern full of hicks more ignorant than he himself still) uploads another of his "existential illuminations" (in his line of obviousness and emptiness "signature mark") TheDesertLynx 17/10/2020 There's a few @ p5yc071c it depends which one because there's two I made this to explore some of the bigger adoption issues we face: https://odysee.com/@DigitalCashNetwork:c/Adoption:3?r=FqowB2QREmrBV4DcLpAWb8cz2K4gYVUV Odysee The REAL Reasons Cryptocurrency Adoption Hasn't Happened ! [image] (https://thumbs.spee.ch/view/2/72565375fff13b62.png) Cryptocurrency has been around for over 10 years since Bitcoin's birth in 2009. But it still hasn't reached anything resembling mainstream ... >>> Of course, disregarding his sly previous threats, I quote its ridiculous sermon, in direct contradiction to his previous (pseudo) historical theses, downplaying and ridiculing the need for stable resources in DASH. Purpelado17 / 10/2020 u/TheDesertLynx ... volatility is an adoption problem? Now? (the first one you name) after a 96% wealth drain during which you have spread the message on DASH networks that stable coins "are a fad"? (A fashion that bills, only in one currency, as much daily money as BTC, ETH and Ripple together - and more than the rest of the united sector, thousands of projects -). How do you think that BTC has maintained reasonable volatility compared to all other projects, if not for Tether? (which is worth nothing less than the throne of the industry light years from the rest). Without Tether, Bitcoin would have fallen to 3 figures, like the rest ... and would be suffering a martyrdom to regain its lost status - like the rest of the relevant currencies ... and DASH especially -). In order for the demand for DASH AS A MEANS OF PAYMENT, which is what you defend even by directly encouraging spending, to eliminate the volatility suffered by the currency, you do not need to go up in adoption, but to achieve a MONSTER adoption ( that is, subordinate a current problem, short-term, to a future and long-term solution ... and it is not necessary to clarify the asynchrony of that approach and its effects: Just look at the DASH price statement). But DASH needs effective stable resources TODAY to mitigate its volatility and reaffirm itself as a store of value (and on top of that, create a progressive growth structure). As u/xcdc says, that is what users are looking for to entrust their money to a project: A SOLID asset. Until that is resolved, this will be a destructive spiral of wealth ... even if the best technology for payments is available. TheDesertLynx17/10/2020 u/Purpelado do not mention me or address me again, this will be considered harassment. Thank you / (copypaste of its threat from days ago - "supposedly" loaded with reason for those who had not read it and seen the pure invention of "harassment") u/TheDesertLynx Some people just don't learn: Facepalm: Purpelado17 / 10/2020 By the way ... being a good means of payment and a good store of value ARE NOT EXCLUSIVE (an argument that continually underlies the monetary qualities of DASH). BTC has sacrificed - to this day - qualities such as speed in exchange for being the "Gold" of the sector (an approach that is being very beneficial) ... but for sheer technical limitations. However, DASH is technically prepared to address both challenges: the solution is strategic and therefore perfectly within reach. bigrcanada at 5:54 Yeah ... FUCK! Like why is Purple Dick still on here too?!? Fuck fuck !!!!!!! ***\* >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> 1- notes and clarifications \* He accuses me of harassment when there are not even previous posts between him and me (in fact, it would be difficult to find a quote from me, looking back MONTHS ... probably and except by chance, there is not ... that is: NOTHING of harassment - I know that his censorious, ignorant and manipulative attitude fits easily into my IMPERSONAL AND GENERIC criticisms of the objectionable practices in DASH ... and I also know that "thedesertlynx / Valenzuela" is corrupt, cowardly and complex, with which, except Express mention of me, I will not give you excuses to express your cowardice and one-sided authoritarianism -) *\* I expose your invention on a non-existent harassment. **\* Thanks to a post that tries to ridicule me ... to which he adds a request for an automatic translation of the discord (it does not seek to expose a problem or harassment ... but to excuse the censorship he wants to execute on my posts, ridicule me and call for my harassment the group of trolls that systematically intoxicate the DASH Talk Discord) ***\* The group of trolls keeps harassing me (in text and thank you icons) 2- Links 1- Invention of infraction ... and threat of ban. https://discord.com/channels/484546513507188745/484546513935269918/765205520347824128 2- Execution of ban https://discord.com/channels/484546513507188745/484546513935269918/767040388505927730
Zala (Bitpanda Country Manager of Spain) may confirm a Bitpanda DebitCard. original: - ¿Qué papel tienen las criptomonedas hoy en día como medio de pago? "Uno de los productos que vamos a lanzar en los próximos meses es precisamente una tarjeta de débito. Estamos trabajando en ello como una herramienta más para darle mayor y mejor servicio a nuestros clientes, para que puedan pagar con ella en cualquier establecimiento. Las últimas conversaciones sobre el euro digital, la regulación del sector y la confrontación entre dinero fiat y las criptos han generado un entrono muy positivo. Sinceramente, no sé si el bitcoin va a acabar siendo una moneda de consumo, pero lo que sé es que el hecho de que se hable de ello es positivo." -------------------------------------------------------------------------------------------------------------------------------------- translated: - What role do crypto-currencies play today as a means of payment? One of the products we are going to launch in the coming months is precisely a debit card. We are working on it as another tool to give more and better service to our customers, so they can pay with it in any establishment. The latest conversations about the digital euro, the regulation of the sector and the confrontation between fiat money and crypts have generated a very positive environment. Honestly, I do not know if bitcoin is going to end up being a consumer currency, but what I do know is that the fact that it is being talked about is positive. ---------------------------------------------------------------------------------------------------------------------------------------- source: https://www.elespanol.com/invertia/mercados/criptomonedas/20201025/zala-bitpanda-queremos-comprar-bitcoin-facil-pedi528947352_0.html
The French central bank loses their mind over decentralized crypto currencies: "Bitcoin is only for criminals!" just as they launch their own backed up crypto currency.
Source (in French), translation below, by yours truly. The French central bank has just released its bimonthly report and there's an entire section dedicated to cryptos. Their first statement is that: "Bitcoin, and other decentralized crypto currencies (as in not backed by any government), are 'pseudo-money' with no future". The French central bank considers the use of decentralized crypto currencies to be barbaric and uncivilized. According to them, decentralized crypto currencies are only used for activities such as:
Anonymous payments using usernames instead of your real identity which can only be used to finance illegal and criminal activities.
Transferring money abroad which can only serve to evade taxes and fees from 'law abiding' traditional banks.
You get it, for the French central bank, Bitcoin is all bad and evil, crypto currencies should be controlled by governments." LMAO, next step they'll make trading crypto illegal except for the ones that are backed up by governments. They are clenching with all their strength to their outdated economic model.
In my quest to legitimately reduce my 2017 paper gains, I've tried Bitcoin.tax. It's the only crypto tax software I found that lets you choose different accounting methods per coin within the same year, e.g. HPFO for all coins, except for ETH, for which it showed me that Average Cost produced 20% less gains (which translates to several thousand dollars in my case). Is there any guidance or precedent on how exactly a taxpayer should be consistent with their accounting method? Q38 and Q39 aren't clear, and shehancpawrote back in July 2020 that "the IRS still has not said when and how exactly Specific ID, FIFO or LIFO should be applied". Crypto tax software blogs are as vague as it gets, e.g. "You will need to pick a method and stick to it" -- Koinly. "Stick to it" how? For all transactions of a given asset (e.g. ETH), like Bitcoin.tax? For all transactions within a year, like Cointracking.info? From one year to the next?
What is Ethereum (ETH)? Ethereum is a global, open-source distributed computing platform based on blockchain technology with smart contracts functionality. The main feature of the platform that it is allows developers to build and launch decentralized applications. The Ethereum project was originally created by Vitalik Buterin and launched in 2015. by StealthEX Ethereum has its own internal cryptocurrency called Ether (ETH) which serves as means of payment as well as fueling and securing the Ethereum network. Nowadays Ethereum is the world’s leading programmable blockchain. Thousands of DApps already created on the basis of Ethereum blockchain technology. Ethereum is also the second digital currency by market capitalization after Bitcoin.
Ethereum future plans and achievements
Recently the project has the following main updates and news: • Ethereum celebrated the fifth anniversary. • Medalla testnet was launched. • The developers redesigned Ethereum’s website and added some fresh illustrations. • The Ethereum team launched a new framework that will help users and developers. • Ethereum.org was translated into 30 languages. • Spadina Launchpad was announced. • EIP 2982: Serenity Phase 0 was released. • Zinken – eth2 testnet was announced. In the near future, the Ethereum team will continue working on the launch of Ethereum 2.0. According to the project official roadmap, Eth2 is a long-planned upgrade to the Ethereum network, giving it the scalability and security it needs to serve all of humanity.
TradingBeasts analytics thinks that by the end of December 2020 ETH price will be $335.386 (-15.52%) per coin. At the end of the year 2021, the maximum ETH cryptocurrency price will reach $487.857 (+22.89%), while its average price will stay around $390.286 (-1.69%).
Wallet Investor ETH price prediction
According to the Wallet Investor Forecast System, ETH is a good long-term investment. By the end of December 2020, Ethereum may hit a maximum price of $603.739 (+52.08%) while its average price will stay around the mark of $462.435 (+16.48%). By the end of 2021, Ethereum’s average price is expected to be $534.109 per coin (+34.54%).
DigitalCoinPrice Ether price prediction
Based on DigitalCoinPrice forecast Ethereum is a beneficial investment. The ETH average price may hit the mark of $820.37 (+106.64%) by the end of December 2020. While by end of the next year its average price will be around $958.69 (+141.48%).
Longforecast ETH coin price prediction
According to Longforecast analyses, ETH crypto may reach $432 (+8.82%) per coin by the end of December 2020. By the end of 2021, the Ether price may reach $566 (+42.57%) per coin. As you can see there are a lot of Ethereum forecasts, but no one knows for 100% what will happen with its price. One thing is for sure – if you are looking for the best platform to exchange cryptocurrency – StealthEX is here for you.
How to buy Ethereum at StealthEX
ETH is available for exchange on StealthEX with a low fee. Follow these easy steps: ✔ Choose the pair and the amount for your exchange. For example, BTC to ETH. ✔ Press the “Start exchange” button. ✔ Provide the recipient address to which the coins will be transferred. ✔ Move your cryptocurrency for the exchange. ✔ Receive your ETH coins! Follow us on Medium, Twitter, Facebook, and Reddit to get StealthEX.io updates and the latest news about the crypto world. For all requests message us via [email protected] The views and opinions expressed here are solely those of the author. Every investment and trading move involves risk. You should conduct your own research when making a decision. Original article was posted onhttps://stealthex.io/blog/2020/10/22/ethereum-price-prediction-2021/
Can someone explain to me what the point of ampleforth is?
I mean I get the essentials. The rising market cap translates into a rise in the quantity. But why is this a desired trait? I don't get it. Let's take a generic token B and compare it to ampleforth A. A has a marketcap of 1m and B too. Let's say both cost $1. Now let's say you own 10 of both and send 1 of each to a different person. Now overnight the marketcap of both rises to 2m. You now own 9 of B which is worth $18 in total because the price doubled, and 18 of A worth $18 because the quantity doubled. So in the end you still effectively transfered $2 in value because you missed out on the additional token you would have gotten. You have effectively done the same thing with both tokens. If the point of ampleforth is to be a (semi) stablecoin it fails to do so. Now on top of that the whole existence of ampleforth is depending on the existence of another currency in which its price target is denominated. It can't be independent of such a currency, so if the goal is to be a currency that replaces all others, then it fails to do so as well. I've also read that ampleforth tries to be a DeFi primitive. The context was that if you use collateral such as ETH, then you might get liquidated if the price changes, but whenever this was mentioned, it was never explained how ampleforth prevents this. It makes no sense to me. Let's say you lock up $100 of ETH and $100 of ampleforth in a smart contract, and get 2 C tokens, one backed by ETH and one by AMPL. Let's say the liquidation price is $50. If the market cap of both lose 50% of their value, then your ETH would get liquidated. But since the quantity of ampleforth has been halved as well the smart contract holds half of the originally locked up AMPL, which will make the smart contract liquidate your assets as well. You could prevent this by excluding ampleforth in smart contract wallets from contraction/expansion but then people would just deposit them in smart contract when they know that there will be a contraction the next day, which makes this solution unfeasible. So as a collateral it also fails. They also say that ampleforth is worth investing in because its price is uncorrelated to bitcoin. But this makes only sense to me if the quantity you hold is fixed. If the marketcap of ampleforth correlates to bitcoins, then the quantity you hold and thus the value you hold in ampleforth will fluctuate as much as bitcoin. Which means that it is no different from any other token which also correlates to bitcoin, even if the price is uncorrelated. So as an investment it makes no sense as well. Especially since this projects only redeeming quality makes absolutely no difference in the end. Please can someone explained to me what the purpose of ampleforth is? There seem to be a lot of people that are really excited but I haven't found a single one that could explain to me what exactly it is that makes ampleforth worth it.
Here is how to play the altcoin game - for newbies & champs
I have been here for many previous altcoin seasons (2013,2017 etc) and wanted to share knowedle. It's a LOOONG article. The evaluation of altcoins (i.e not Bitcoin) is one of the most difficult and profitable exercises. Here I will outline my methodology and thinking but we have to take some things as a given. The first is that the whole market is going up or down with forces that we can't predict or control. Bitcoin is correlated with economic environments, money supply increases, safe havens such as Gold, hype and country regulations. This is an impossible mix to analyze and almost everyone fails at it. That's why you see people valuing Bitcoin from $100 to $500k frequently. Although I am bullish on the prospects of Bitcoin and decentralization and smart contract platforms, this is not the game I will be describing. I am talking about a game where you try to maximize your BTC holdings by investing in altcoins. We win this game even if we are at a loss in fiat currency value. To put it another way:
If you are not bullish in general on cryptocurrencies you have no place in investing or trading cryptocurrencies since it's always a losing proposition to trade in bubbles, a scientifically proven fact. If on the other hand you are then your goal is to grow your portfolio more than you would if holding BTC/ETH for example.
Bitcoin is the big boy
How the market works is not easily identifiable if you haven't graduated from the 2017 crypto university. When there is a bull market everything seems amazingly profitable and things keep going up outgrowing Bitcoin by orders of magnitude and you are a genius. The problem with this is that it only works while Bitcoin is going up a little bit or trades sideways. When it decides to move big then altcoins lose value both on the way up and on the way down. The second part is obvious and proven since all altcoins from 2017 are at a fraction of their BTC value (usually in the range of 80% or more down). Also, when BTC is making a big move upwards everyone exits altcoins to ride the wave. It is possible that the altcoin market behaves as an inversed leveraged ETF with leakage where in a certain period while Bitcoin starts at 10k and ends at 10k for example, altcoins have lost a lot of value because of the above things happening.
We are doing it anyway champ!
OK so we understand the risks and just wanna gambol with our money right? I get it. Why do that? Because finding the ideal scenario and period can be extremely profitable. In 2017 several altcoins went up 40x more than BTC. But again, if you don't chose wisely many of them have gone back to zero (the author has first hand experience in this!), they have been delisted and nobody remembers them. The actual mentality to have is very important and resembles poker and other speculative games: A certain altcoin can go up in value indefinitely but can only lose it's starting investment. Think about it. You either lose 1 metric or gain many many more. Now that sounds amazing but firstly as we said we have the goal to outperform our benchmark (BTC) and secondly that going up in value a lot means that the probability is quite low. There is this notion of Expected Value (EV) that poker players apply in these kind of situations and it goes like that. If you think that a certain coin has a probability let's say 10% to go up 10X and 90% probability it goes to zero it's an even bet. If you think that probability is 11% then it's a good bet, a profitable bet and you should take it. You get the point right? It's not that it can only go 10X or 0X, there is a whole range of probability outcomes that are too mathematical to explain here and it doesn't help so much because nobody can do such analysis with altcoins. See below on how we can approximate it.
How to evaluate altcoins
A range of different things to take into account outlined below will form our decision making. Not a single one of them should dictate 100% of our strategy.
It's all about market cap. Repeat after me. The price of a coin doesn't mean anything. Say it 10 times until you believe it. I can't remember how many times I had conversations with people that were comparing coins using their coin price instead of their market cap. To make this easy to get.
If I decide because the sky is blue to make my coin supply 100 Trillion FoolCoins with a price of $0.001 and there is another WiseCoin with a supply of 100 Million and price of $1 then FoolCoins are more expensive. - Alex Fin's Cap Law
This is done usually in the stock world and it means that each company has some fundamental value that includes it's assets, customers, growth prospects, sector prospects and leadership competence but mostly centered in financial measures such as P/E ratios etc. Valuation is a proper economic discipline by itself taught in universities. OK, now throw everything out of the window!. This kind of analysis is impossible in vague concepts and innovations that are currently cryptocurrencies. Ethereum was frequently priced at the fictional price of gas when all financial systems on earth run on the platform after decades (a bit of exaggeration here). No project is currently profitable enough to justify a valuation multiple that is usually equal to P/E in the thousands or more. As such we need to take other things into account. What I do is included in the list below:
Check Github. You need to make sure there is active development for the platform and it's a very bad sign if the project is either keeping the code closed source or even worse there is simply no development. No projects are "complete".
Check Website. If the website is written in bad English the Chinese google translate type it means that they are not serious enough to produce an unbreakable decentralized project. If you can't write English you can't change the world, period. That's a deal breaker.
Check Team's Linkedin. Numerous projects have either fake Linkedin accounts or the team is comprised mainly by unexperienced employees that are even shown to be working in other companies currently.
Check backers. Projects that have Binance, Coinbase or Silicon Valley VC funds backing them are way more legit but way more overpriced too!
One of my favorite ways to value altcoins that is based on the same principle in the stock market is to look at peers and decide what is the maximum cap it can grow to. As an example you take a second layer Ethereum solution that has an ICO and you want to decide if you will enter or not. You can take a look at other coins that are in the same business and compare their market caps. Thinking that your coin will outperform by a lot the top coins currently is overly optimistic so I usually take a lower valuation as a target price. If the initial offering is directly implying a valuation that is more than that then there is no room to grow according to my analysis and I skip it. Many times this has proven me wrong because it's a game theory problem where if many people think irrationally in a market it becomes a self-fulfilling prophecy. But since there is opportunity cost involved, in the long run, getting in initial offerings that have a lot of room to grow will pay off as a strategy.
In 2017 the sexiest sector was platforms and then coins including privacy ones. Platforms are obviously still a highly rated sector because everything is being built on them, but privacy is not as hot as it used to be. In 2018 DEXes were all they hype but still people are massively using centralized exchanges. In 2020 Defi is the hottest sector and it includes platforms, oracles and Defi projects. What I am saying is that a project gets extra points if it's a Defi one in 2020 and minus points if it's a payment system that will conquer the world as it was in 2017 because that's old news. This is closely related to the next section.
Needless to say that the crypto market is a worse FOMO type of inexperienced trigger happy yolo investors , much worse than the Robinhood crowd that drove a bankrupt company's stock 1200% after they declared bankruptcy. The result is that there are numerous projects that are basically either vaporware or just so overhyped that their valuation has no connection to reality. Should we avoid those kind of projects? No and I will explain why. There are many very good technically projects that had zero hype potential due to incompetent marketing departments that made them tank. An example (without shilling because I sold out a while back) is Quantum Resistant Ledger. This project has amazing quantum resistant blockchain, the only one running now, has a platform that people can build tokens and messaging systems and other magnificent stuff. Just check how they fared up to now and you will get the point. A project *needs* to have a hype factor because you cannot judge it as normal stocks that you can do value investing like Warren Buffet does where a company will inevitable post sales and profitability numbers and investors will get dividends. Actually the last sentence is the most important: No dividends. Even projects that give you tokens or coins as dividends are not real dividends because if the coin tanks the value of the dividend tanks. This is NOT the case with company stocks where you get dollars even if the company stock tanks. All that being said, I would advice against betting on projects that have a lot of hype but little substance (but that should be obvious!).
How to construct your portfolio
My strategy and philosophy in investing is that risk should be proportional to investment capital. That means that if you are investing 100K in the crypto market your portfolio should be very different than someone investing 1K because 10% annual gains are nothing in the latter while they are very significant in the former. Starting from this principle each individual needs to construct a portfolio according to how much risk he wants to take. I will emphasize two important concepts that play well with what I said. In the first instance of a big portfolio you should concentrate on this mantra: "Diversification is the only free meal in finance". In the case of a small portfolio then this mantra is more important: "Concentrate to create wealth, diversify to maintain wealth". Usually in a big portfolio you would want to hold some big coins such as BTC and ETH to weather the ups and downs explained in previous paragraphs while generating profits and keep progressively smaller parts of your portfolio for riskier investments. Maybe 50% of this portfolio could be big caps and 10% very risky initial offerings. Adapting risk progressively to smaller portfolios makes sense but I think it would be irrational to keep more than 30% of a portfolio no matter what tied to one coin due to the very high risk of bankruptcy.
The altseason is supposedly coming every 3 months. Truth is that nobody can predict it but altcoins can be profitable no matter what. Forget about maximalists who are stuck in their dogmas. Altcoins deliver different value propositions and it makes sense because we are very far from a situation where some project offers everything like Amazon and we wouldn't even want that in the first place since we are talking about decentralization and not a winner takes all and becomes a monster kind of scenario! Some last minute advice:
Stay out of paid telegram/discord pump groups. They are deadly for your wallet.
Avoid jumping on overhyped coins that have pumped massively during the last days without any very important news.
Don't keep coins in obscure exchanges for too long or you will get burned with certainty.
Stop thinking that your coin will 1000x and overtake Bitcoin!
P.S If you find value in reading this and want more weekly consider subscribing to my newsletterhere
Common sites with HIGHEST payout and STABLE income << 04/10/2020 >>
This is a long post, but please try to read it all and select the most suitable one for you. When you see any sites with good payout and good potential, feel free to create a post. Also when you know site that is scam, please create a post to alert everyone as soon as possible. There're 4 main and common types of task you will encounter when using beermoney sites. You can use all the sites or just pick the most suitable type and site to work with. Using more than one site is recommended, as the number of tasks on one site is not high enough, and the tasks will not appear continuously.
I. MICRO-TASK (or Crowdsourcing task)
The task is vary from article assessment, information collection, search-query classification/answer relevance, taking or collecting photo/video, to object identification,... The number of tasks will increase as you complete tasks. Pros: - The number of tasks is higher and more stable than other type of beermoney. - The payout is appropriate to your time and effort. You can even make stable income with them. Cons: - Sometime you will need to pass the training test to access the task. - Your work may not be accepted if it does not meet the guideline. - It can be a little hard in the beginning, there're also not many tasks for you, but BE PATIENT, because they haven't been able to fully assess your ability yet. 1-Toloka Yandex: This is one of my favorite micro task sites, and is the first on the list when I make beermoney site suggestion. The tasks are mainly in English and Russian. They also have task in your mother language too, depend on your setting and location. Don't worry about the language, as you can easily have it to be translated with google translate extension or any translation site and the task is easy enough to understand. The minimum withdrawal is $0.02 if you request to withdrawal once a week, and it will be $1 if more than once a week. You can withdraw the money to PayPal, Payoneer, Skrill or papara. But to be able to withdraw with PayPal, you will need a verified PayPal account. Here are registration links: ref-link and no-ref 2-Clickworker: One of the most popular micro task sites, you can find many recommendations and good reputation about them. But to make the most if it, you will need to unlock UHRS, as describe here. You definitely shouldn't miss Clickworker and UHRS. Their payout rate is higher than Toloka, but be careful that you'll be considered as spam if you complete the task too fast. Depend on your location and language, you can earn a great amount of money here, the highest I've earned in 1 day is $35. You can receive payment to PayPal account with the minimum of €5. You can choose other payment methods too, like SEPA transfers and Transferwise. No need to say anymore, here are the links: ref-link and no-ref 3-Remotasks You will need to take part in training (which is quite hard and time-consuming) and pass the test to be able to access a large number of tasks here. The tasks are categorization, text highlighting, image annotation, semantic segmentation,... and well-known Lidar Annotation and Segmentation. Here are registration links: ref-link and no-ref NOTE FOR MICRO-TASK:
It's highly recommended to use all those sites, and maybe other sites if you want, because the tasks are not shown continuously.
Make sure to fully understand the guideline, as you will not be credited if you work fails to meet the requirement, which will waste your time and effort.
If you find any task with really low credit but require a lot of time and effort, don't do it. If the requester still be able to find worker, they will always offer that price. It's not worth your time, just going to other tasks or going to other sites to see if there're any available tasks for you.
II. OFFER WALL TASK
Another way to earn beermoney online is to complete Offer wall tasks. You will be asked to installing app on your smartphone, signing up, playing game and reaching determined level, or watching video,.... Doing survey can also be listed here, but it will be shown in separate section. There're many offer walls for you to choose, with different payout level. Usually each beermoney site will list many offer walls, one offer can appear in more than one site/wall, so make sure to surf around and compare the credit to find the best and highest payout wall/site for that offer. Pros: - Easy to do - Can complete offer many times if you have different kinds of phone (mostly Android and iOS), or using another phone as the tasks are listed on many different offer walls. - Can earn money while playing and relaxing, as mostly the offered apps are games. Some apps only requires you to install and open, make it really quick to have some beermoney. Cons: - The payout is not very high. Especially when that offer is going through many walls and sites to reach you. - Some offer take much time to complete. - The number of offers is not high enough to do daily. 1-RewardXP RewardXP has surpassed GG2U to become the highest payout site. They have leveling system, the higher level you reach, the more offer walls you can access and the more benefit you can get. With the minimum of $5, they provide a variety of withdrawal methods for you to choose, like PayPal, Amazon, Steam,... You definitely should try this site. Here are your registration links: ref-link and no-ref. Registration with referral link, you will be given a 5000XP (~$0.5) bonus. 2-GG2U: This is also my favorite site. Their paying rate is one of the highest in the market (if you find any other site which is higher, feel free to suggest :D THE HIGHEST ONE NOW is RewardXP, see above). Aside from installing and registering app, they also have many survey walls for you. The most attractive part is that they will give you $1 bonus right after signing up, and after 5 withdrawal requests, you will have a chance to earn up to $7 bonus. With bonus, it's hard to say which is better, RewardXP or GG2U. You can withdraw money to your PayPal account or Coinbase (crypto wallet), with the minimum of $7. Here are your links: ref-link and no-ref 3-Cointiply One of the most popular sites, with great community. They will pay you with cryptocurrency like Bitcoin or Doge. You will have many chances to earn coins, by doing offer walls task, rolling the faucet every 1 hour, testing your luck with multiplier or by activating in their really crowded chat room. You can also earn some coins by clicking Paid-to-click ads. Most of the time, those ads are from Cointiply user with their referral link embedded, so if you register sites when viewing those ads, they will earn some commission. You can try this strategy too :D With their mobile app, it will be much easier to do mobile offers. Make sure to check your email and mobile app to get the user-limited Promotion Codes regularly. Registration links: ref-link and no-ref 4-Swagbucks Sometime you can earn money by spending less. Swagbucks offers a big number of sites where you can receive cash back when you shop online. If you shop online a lot, it's worth to take a look Here are registration link for shopping: ref-link-shopping and no-ref-shopping Beside the cash back program, Swagbucks also provides offer wall, however the paying rate is not as high as site 1 and 2 above. Anyway, if you want to try, here're your registration links: ref-link and no-ref 5-EarnCrypto If you're into doing offer walls task and earning crypto currency, try this site too. Their paying rate is quite lower than above sites, but they have Data entry task, which is daily, for you to earn some coins. By ranking high on their daily leader board, you will be rewarded with a great amount of coins (can even be higher than your earning from doing the data entry task itself :D). There are many different kinds of crypto currency for you to select. Just take a look if you have time: ref-link and no-ref NOTE FOR OFFER WALL TASK:
Every offer wall has a place to track your activity history, like what offer you clicked, what offer you completed and did you receive credit or not. Every time you're about to do an offer, after entering that offer (usually when you click an offer, a small panel about what offer is appears, there will be a button name 'continue' or 'go to offer', after you click that button, you're entering the offer), make sure that offer appears in your history tab of that offer wall. This will enable you to request support in case you complete the offer and have not received credit yet. If it does not appear in the history list, you will not be credited for that offer, so try to click it again.
To find the history tab, after entering offer wall, you will need to find a button named 'My coin', 'My history', 'Support', or button with question mark,... That button should be easy to be found.
Try to surf around to find the offer wall and site having the highest paying rate for the offer, as the same offer will appear in many offer walls and sites.
When you're about to start to do an offer of installing app (especially game), try to read the comment in appstore/playstore to see whether the offer's requirements can be easily to fulfill or not. For example, the requirements are: 1. install game, 2. open it, 3. reach level 30; and you find some comment about cannot reach level 25, or it takes months to reach level 29, then skip that offer, it's not worth the try.
III. PAY TO SEARCH
You can earn nearly passive income from this type of task. They will give you some query, you will search with that query, entering determined site, leaving that site opened for couple of minutes. Pros: - It's super easy to do. - While leaving the site open, you can do any other thing you want, like doing some micro-tasks. - The paying rate is quite good, especially when you will not need to do much. Cons: - The number of queries is not very high. 1-SerpClix In order to receive more queries to search, make sure to leave the site open and allow the notification. Even though SerpClix recommends you to click on the page, don't do that, just using scrollbar. SerpClix will automatically navigate to sub page of that page. Another suggestion here is to install adblock extension, because SerpClix will ban you if you click on any ads on the page, so blocking them before hand is a good move. Here your registration links: ref-link and no-ref
Probably all offer walls have some kind of surveys there, some surveys are only available through offer walls, some have their own sites. By using their own sites will not guarantee that you will have higher payout though. Make sure to be honest when doing survey, despite the fact that you will sometime be disqualified from the survey. There's many reasons why you are disqualified, like because your job is not suitable, your demography is not their target, your answer is not persistent,... BE CAREFUL, they will keep track of you, even if you clear your cookie, so being dishonest can lead you to be banned from their sites. Again, BE HONEST, and there will be suitable surveys for you. There will be two types of survey for you: the first one is filling form and selecting answer from their suggestion, the second one is to talk with them directly or via Video call apps. The second one has much much higher earning but the requirement is also higher too. Pros: - Easy to do, just being honest - High payout, especially with the second type of survey. - Some survey only need 5 minutes to complete with good payout. Cons: - Some survey can take about 30 minutes to complete, so make sure that you have enough free time. - You will be disqualified if your information is not suitable to their survey's target. BUT ALWAYS BE HONEST. 1-SurveyTime One of the best sites out there, my favorite one. They will instantly send you $1 or $0.5 (depend on survey) to your PayPal or Coinbase account when you complete the survey, so no minimum required to withdrawal. The survey you will do here is the first type, filling in the form and selecting answer. You can register with SurveyTime through some offer walls, as they will give you some more coins when you complete the survey, but make sure to check their's conditions. Make sure to turn on Browser notification and Email notification so that you don't miss any survey. Registration links: no-ref 2-Respondent You will need a microphone and/or webcam (built-in or external) as the survey in Respondent is conducted via video calls, phone calls, in-person discussions. Of course, you will receive a huge credit for doing survey here, from $5 up-to $1000. This's a great deal, one successful survey can get you more credit than doing hundreds of micro-tasks. Don't miss this site. They will recommend suitable survey for you, but if you want to view all available survey, make sure to uncheck the 'Recommended' option in Filter panel. Here're your registration links: ref-link and no-ref NOTE FOR SURVEY TASK:
sometime, they will provide the must-select answer in the question to test if your attention. Make sure to read the question carefully. For example, the question is "Do you agree that 1 + 1 = 2? Select option [I do not agree] in the answer", if you select [I agree], you fail.
BE CAREFUL - BE HONEST
When you're doing the first type survey (filling form, selecting answer), be careful not to install any app, or download any thing, or upload your social data file when asked. In that case, just contact survey site support and report it.
It's better to use many different survey sites to maximum the number of surveys you receive.
Last word, BE PATIENT - earning online can be a little hard in the beginning. Feel free to share your experience when using beermoney sites (and your referral link too :D) or ask question about any beermoney sites by creating new post. Also creating new post when you know that any site is scam or becomes scam. P.S 1: In case you need a Crypto wallet, you can use Coinbase, registration links: ref-link and no-ref, or Binance ref-link and no-ref. You can read here for the comparison between Coibase and Binance P.S 2: You can add some email addresses to PayPal account, so you can use many email address to register to beermoney sites if you want P.S 3: If you're confident with your English, and have a computer, microphone and webcam, you can try Usertesting site, you will visit a website that requires you to test, talk about your experience of using that site Here is the link: no-ref
Everyone and his grandma know what cryptocurrency mining is. Well, they may not indeed know what it actually is, in technical terms, but they have definitely heard the phrase as it is hard to miss the news about mining sucking in energy like a black hole gobbles up matter. On the other hand, staking, its little bro, has mostly been hiding in the shadows until recently. by StealthEX Today, with DeFi making breaking news across the cryptoverse, staking has become a new buzzword in the blockchain space and beyond, along with the fresh entries to the crypto asset investor’s vocabulary such as “yield farming”, “rug pull”, “total value locked”, and similar arcane stuff. If you are not scared off yet, then read on. Though we can’t promise you won’t be.
Cryptocurrency staking, little brother of crypto mining
There are two conceptually different approaches to achieving consensus in a distributed network, which comes down to transaction validation in the case of a cryptocurrency blockchain. You are most certainly aware of cryptocurrency mining, which is used with cryptocurrencies based on the Proof-of-Work (PoW) consensus algorithm such as Bitcoin and Ether (so far). Here miners compete against each other with their computational resources for finding the next block on the blockchain and getting a reward. Another approach, known as the Proof-of-Stake (PoS) consensus mechanism, is based not on the race among computational resources as is the case with PoW, but on the competition of balances, or stakes. In simple words, every holder of at least one stake, a minimally sufficient amount of crypto, can actively participate in creating blocks and thus also earn rewards under such network consensus model. This process came to be known as staking, and it can be loosely thought of as mining in the PoS environment. With that established, let’s now see why, after so many years of what comes pretty close to oblivion, it has turned into such a big thing.
Why has staking become so popular, all of a sudden?
The renewed popularity of staking came with the explosive expansion of decentralized finance, or DeFi for short. Essentially, staking is one of the ways to tap into the booming DeFi market, allowing users to earn staking rewards on a class of digital assets that DeFi provides easy access to. Technically, it is more correct to speak of DeFi staking as a new development of an old concept that enjoys its second coming today, or new birth if you please. So what’s the point? With old-school cryptocurrency staking, you would have to manually set up and run a validating node on a cryptocurrency network that uses a PoS consensus algo, having to keep in mind all the gory details of a specific protocol so as not to shoot yourself in the foot. This is where you should have already started to enjoy jitters if you were to take this avenu entirely on your own. Just think of it as having to run a Bitcoin mining rig for some pocket money. Put simply, DeFi staking frees you from all that hassle. At this point, let’s recall what decentralized finance is and what it strives to achieve. In broad terms, DeFi aims at offering the same products and services available today in the traditional financial world, but in a trutless and decentralized way. From this perspective, DeFi staking reseblems conventional banking where people put their money in savings accounts to earn interest. Indeed, you could try to lend out your shekels all by yourself, with varying degrees of success, but banks make it far more convenient and secure. The maturation of the DeFi space advanced the emergence of staking pools and Staking-as-a-Service (SaaS) providers that run nodes for PoS cryptocurrencies on your behalf, allowing you to stake your coins and receive staking rewards. In today’s world, interest rates on traditional savings accounts are ridiculous, while government spending, a handy euphemism for relentless money printing aka fiscal stimulus, is already translating into runaway inflation. Against this backdrop, it is easy to see why staking has been on the rise.
Okay, what are my investment options?
Now that we have gone through the basics of the state-of-the-art cryptocurrency staking, you may ask what are the options actually available for a common crypto enthusiast to earn from it? Many high-caliber exchanges like Binance or Bitfinex as well as online wallets such as Coinbase offer staking of PoS coins. In most cases, you don’t even need to do anything aside from simply holding your coins there to start receiving rewards as long as you are eligible and meet the requirements. This is called exchange staking. Further, there are platforms that specialize in staking digital assets. These are known as Staking-as-a-Service providers, while this form of staking is often referred to as soft staking. They enable even non-tech savvy customers to stake their PoS assets through a third party service, with all the technical stuff handled by the service provider. Most of these services are custodial, with the implication being that you no longer control your coins after you stake them. Figment Networks, MyContainer, Stake Capital are easily the most recognized among SaaS providers. However, while exchange staking and soft staking have everything to do with finance, they have little to nothing to do with the decentralized part of it, which is, for the record, the primary value proposition of the entire DeFi ecosystem. The point is, you have to deposit the stakable coins into your wallet with these services. And how can it then be considered decentralized? Nah, because DeFi is all about going trustless, no third parties, and, in a narrow sense, no staking that entails the transfer of private keys. This form of staking is called non-custodial, and it is of particular interest from the DeFi point of view. If you read our article about DeFi, you already know how it is possible, so we won’t dwell on this (if, on the off chance, you didn’t, it’s time to catch up). As DeFi continues to evolve, platforms that allow trustless staking with which you maintain full custody of your coins are set to emerge as well. The space is relatively new, with Staked being probably the first in the field. This type of staking allows you to remain in complete control of your funds, and it perfectly matches DeFi’s ethos, goals and ideals. Still, our story wouldn’t be complete if we didn’t mention utility tokens where staking may serve a whole range of purposes other than supporting the token network or obtaining passive income. For example, with platforms that deploy blockchain oracles such as Nexus Mutual, a decentralized insurance platform, staking tokens is necessary for encouraging correct reporting on certain events or reaching a consensus on a specific claim. In the case of Nexus Mutual, its membership token NXM is used by the token holders, the so-called assessors, for validating insurance claims. If they fail to assess claims correctly, their stakes are burned. Another example is Particl Marketplace, a decentralized eCommerce platform, which designed a standalone cryptocurrency dubbed PART. It can be used both as a cryptocurrency in its own right outside the marketplace and as a stakable utility token giving stakers voting rights facilitating the decentralized governance of the entire platform. Yet another example is the instant non-custodial cryptocurrency exchange service, ChangeNOW, that also recently came up with its stakable token, NOW Token, to be used as an internal currency and a means of earning passive income.
Nowadays, with most economies on pause or going downhill, staking has become a new avenue for generating passive income outside the traditional financial system. As DeFi continues to eat away at services previously being exclusively provided by conventional financial and banking sectors, we should expect more people to get involved in this activity along with more businesses dipping their toes into these uncharted waters. Achieving network consensus, establishing decentralized governance, and earning passive income are only three use cases for cryptocurrency staking. No matter how important they are, and they certainly are, there are many other uses along different dimensions that staking can be quite helpful and instrumental for. Again, we are mostly in uncharted waters here, and we can’t reliably say what the future holds for us. On the other hand, we can go and invent it. This should count as next. And remember if you need to exchange your coins StealthEX is here for you. We provide a selection of more than 250 coins and constantly updating the list so that our customers will find a suitable option. Our service does not require registration and allows you to remain anonymous. Why don’t you check it out? Just go to StealthEX and follow these easy steps: ✔ Choose the pair and the amount for your exchange. For example ETH to BTC. ✔ Press the “Start exchange” button. ✔ Provide the recipient address to which the coins will be transferred. ✔ Move your cryptocurrency for the exchange. ✔ Receive your coins! The views and opinions expressed here are solely those of the author. Every investment and trading move involves risk. You should conduct your own research when making a decision. Original article was posted onhttps://stealthex.io/blog/2020/09/08/cryptocurrency-staking-as-it-stands-today/
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