Tag Archives: Cryptocurrency

Some Digital Marketing Trends To Watch In 2018

Some Digital Marketing Trends
To Watch In 2018


'Tis the season to take a look at what worked
and didn’t work in your marketing last year. In going through that exercise, I encourage you to test some new tactics for the year ahead. Below are six trends to keep an eye on and how to apply them.

'Mobilfication'

We've heard about mobile for the last few years, but for some crazy reason, many businesses are still not taking action. Stand in line anywhere nowadays and watch what people are doing. I can assure you they have their face buried in their mobile device. Mobile will continue to be a top priority for marketers for years to come.

Put a mobile strategy in place to engage with your prospects and customers. This means creating a mobile website but, depending on your business, mobile elements might include the ability to send text messages to your customers. For example, the restaurant industry can get away with sending texts once a week with specials, whereas a doctors office would be hard-pressed to send something so regularly. I'd suggest starting off by sending two messages a month, one fun text and one promotional with a call to action. Once you get started, you'll be able to quickly gauge how many messages your audience will respond to.

Media Properties

What type of business are you in? Regardless of your answer, I would challenge you to start thinking about your business as a media company. Where do you get most of your information about what's going on in the world? Whether you read your news online or still read a paper copy, the news controls the conversation for the day, week or month.The best way to control the conversation in front of your prospects and customers is to get in front of them with quality content. Launch one media platform that's 100% focused on providing helpful, authentic content to your end customers. This could mean a podcast, a well-written and thought-out blog or even a livestream video that you film on a weekly basis. The business that produces the best (and most) content will come out on top.

Chatbots

Chatbots are all the rage as of late and for great reason. If you're not familiar, think of them as a tool on the other side of a computer that can respond to your customers' questions or comments. Chatbots are used for engagement, customer service issues, general questions and even closing business. I've been testing them out the last six months and the results have been off-the-charts. The crazy thing is, if you set up the bot correctly, it's very tough to tell if you're talking to an actual person or a bot.

Launch a website or Facebook chatbot to engage with your prospects. Find something fun or engaging to start the conversation, as the prospect needs to initiate the chat. I'm a huge fan of data-driven marketing and have seen open rates exceed 80% or higher with an engaged audience. So, if you send 1,000 messages via your chatbot tool, chances are high that at least 800 people will see your message. Those rates are far superior to email open rates, making this a unique channel not to ignore.

Reviews

Organic traffic from SEO continues to be one of the best sources of web traffic for many businesses. While there are a lot of elements involved in ranking, the number of reviews you have is a key factor. Google looks at your Google reviews, Facebook reviews, Yelp reviews and more. Why would Google want to prioritize a business in the search rank that has a one-star rating? While your reviews are essential for search engine rankings, they can also make or break a sale for you. According to research, half of adults under the age of 50 regularly check online reviews before purchasing a new item. What will they find? I hope a substantial amount of positive reviews that makes the decision easy. Put together a solid plan for getting reviews for your business. Be careful not to incentivize people (as this is not allowed), but instead have a system for asking for reviews.

Video

I expect to see more Facebook Live videos and a rise in web TV. In many surveys out there (like this one), consumers say they much prefer video over text. Video helps tell more compelling stories, gets your point across faster and can improve sales. Video on a landing page or sales page, for example, can help increase conversions by as much as 80%, according to research. Get started by committing to doing four videos per month. Whether you do a Facebook Live, YouTube video or a video for your website, it doesn’t matter. Get into the habit of producing quality video content for your prospects and customers.

Branding Versus Direct Response

Telling your story versus telling people what to do is critical. To paint a more vivid picture, let me provide an example. Educators Credit Union, a client of ours, hosts dozens of events throughout the year that provides value to their members and portrays their brand to the community. Several times a year, they host a shred day, allowing members to bring their papers to be shredded at no cost. Their team is there to help and makes it a fun, community-based day. There are no fancy calls to action. Instead, they're continuing to keep their name out in the community and telling their story. Stop focusing all of your attention on the call to action and make sure you're delivering value first, telling your story and portraying your business in the best possible light. Above, There have been provided some trends. Pick one and execute. Ready, set, go!

Chuck Reynolds


Marketing Dept
Contributor

Please click either Link to learn more about Marketing.
Interested or have Questions, Call Me, 559-474-4614

 

Thomas Prendergast

A Few Ways Blockchain Will Disrupt Traditional Business And Impact Marketing In 2018

A Few Ways Blockchain Will Disrupt Traditional Business And Impact Marketing In 2018

Recently, cryptocurrencies have dominated the news with Bitcoin,

Litecoin and other altcoins generating mainstream buzz. Companies are utilizing a myriad of marketing efforts, particularly social media, to drive interest within the sector. The interest in cryptocurrencies has mainly been speculative as investors look to ride the wave. On November 27, CNBC reported that there were 13.3 million users for Coinbase, the leading U.S. platform for buying and selling Bitcoin. In contrast, Charles Schwab maintained 10.6 million active brokerage accounts.

With that said, technology is evolving at a rapid pace and 2018 will be the year that blockchain, the backbone behind cryptocurrencies, establishes itself as the fastest-growing digital technology since the evolution of the internet. The blockchain is a distributed incorruptible digital technology infrastructure which maintains a fully encoded database that serves as a ledger where all transactions are recorded and stored. For those not familiar with blockchain, here's a good primer for beginners.

Today, startups are jumping on the blockchain and looking for ways to promote their idea or company above the noise. These companies understand that we are in the midst of a “Gold Rush” and are laser-focused on promoting their solution to drive interest, raise capital and increase market share. Many companies are being built to leverage blockchain to create greater efficiencies and maximize the current frenzy. (Full Disclosure: My company started an accelerator for blockchain businesses, helping them grow from concept to reality to widespread adoption.) With Blockchain technology migrating from early adopter status to mainstream adoption, below are three ways blockchain will disrupt traditional business and impact marketing in 2018.

Capital Security

Access to capital is currently one of the major challenges startups face, as the ability to fund an idea and grow a business is burdensome. Lending options are not the same around the globe, and blockchain levels the playing field in the global economy. Firms and agencies do not always have the ability to raise capital efficiently as costs of loans and transaction fees make the process a non-starter. Blockchain will ultimately serve as an engine for securing capital since cryptocurrencies are decentralized and there are no fees associated with them. Entrepreneurs can benefit from the blockchain by accepting funding from angel investors and venture firms the world over, in quick time.

The quicker companies are to (more easily) secure capital, the quicker they'll be to invest in building their teams and promoting their business. In particular, a larger yield of startups will lead to a higher overall marketing spend, which will impact the addressable market for agencies and firms alike.

Real-Time Automation

Blockchain essentially automates processes, and formal client agreements will benefit from a fully automated approval process. Often, blockchain is referenced as a “smart” ledger/contract. Implementing blockchain as a replacement for the typical multiple executive approval processes would cut down project delays and create a universal agreement across business sectors impacting both clients and agencies.

Similarly, blockchain can automate the sourcing, supply chain and procurement processes by tracking responsibilities throughout their life cycle, which would ensure accurate data and accountable transactions. This would disrupt the way marketers engage with and service their clients. Agencies will be impacted by automation as it reshapes the relationship amongst your business and customers. Automation in smart contracts and/or sourcing provides real-time updates and a live snapshot that provides for seamless reporting from all transactions, tracing the actions and deliverables effectively.

Influx Of Startups

Blockchain has begun to generate excitement, and entrepreneurs will attempt to devise the “next big thing” via the use of the blockchain network. Many will see blockchain as the next dot-com opportunity. As companies form to leverage blockchain, the investment community will follow as they did in the 1990s. The excitement and push to build blockchain businesses will spur the economy and ultimately create a robust market for agencies to service blockchain companies.

Blockchain companies need marketing to position their startups above the noise. Leveraging agency expertise will help these companies grow and position them for success. A forward-facing company with a crisp look and a targeted message will build its brand and put itself in a position for investment. For the marketing industry, blockchain provides the largest addressable market since the 1990s. In the early 90s, the internet was something that many didn’t fully understand or realize the impact it could have on our future. Back then, companies were quick to add the dot-com suffix to their name in an attempt to build off the growing momentum. Similarly, fast-forward to 2018 and companies are adding “blockchain” to their name purely to increase valuations.

According to Bloomberg, Long Island Iced Tea Corporation changed its name to Long Blockchain Corporation after it received an ultimatum from Nasdaq in October. When Nasdaq threatened to delist Long Island Iced Tea unless its market value rose above $35 million for 10 consecutive business days, it added “Blockchain” to its name and achieved the target market value via a surging stock price. Kodak has also stepped into the field, announcing the roll-out of KodakCoin.

As 2018 progresses, it will be interesting to see if the cryptocurrency bubble bursts. If there is a market correction, will it impact the excitement around blockchain? In fact, most speculative investors in cryptocurrencies don’t fully understand the difference between crypto and blockchain, and their investment in crypto is really an investment in the blockchain. In short, as blockchain continues to evolve, we’ll see a changing dynamic within the marketing community. Business transactions will get a makeover and this will create a verified transparent network that will ensure privacy and security. This will be the year that blockchain goes mainstream, and the adoption of its processes will lead to a boom that will disrupt traditional business and impact marketing.

Chuck Reynolds


Marketing Dept
Contributor

Please click either Link to learn more about Marketing.
Interested or have Questions, Call Me, 559-474-4614

Thomas Prendergast

How bitcoin and blockchain will change the world

 
How bitcoin and blockchain will change the world

Digital currencies are the future of money, but bitcoin probably isn't the ultimate winner.

Publish on Markethive:
https://markethive.com/group/marketingdept/blog/how-bitcoin-and-blockchain-will-change-the-world

Bitcoin climbed in value from less than $1,000 at the beginning of 2017 to $14,000 by the end of the year. A coin of Ethereum was worth $8 on Jan. 1, 2017, and $843 one year later. Who would not be intrigued with the idea of owning something that appreciated thirteenfold, or even a hundredfold, in one year? Even the least sophisticated investors are wondering if cryptocurrency is a real thing or just a bubble of speculation. The real revolution is not the currency but the system that supports it.

Digitization and commercialization of trust

In the late 1990s, many were sucked into the dotcom bubble as the internet revolution brought unimaginable valuations to businesses with a technology bent. But the companies themselves were not as valuable as the platform they were all being built on: the internet.

 

Cryptocurrencies like bitcoin and Ethereum are no different; they are the shiny objects capturing everyone's attention. But the real industry changer is blockchain, the technology they are built on. Why? Because just as the internet digitized geography and made the world smaller, blockchain does something unimaginably valuable: it is the digitization of trust. It makes transactions trustworthy and safe. Here are some questions to consider in the emerging world of digital logs:

 

1.         Will digital currencies dominate the future? Digital currencies are absolutely the future of money. However it's unlikely that bitcoin is the ultimate winner. Regardless of the coding oddities that make it an inefficient vehicle (the mining code used makes it a colossal waster of electricity and processing power), the idea is simply too big for one platform to own. According to Erik Townsend of the MacroVoices podcast, the demise of bitcoin will result from the privacy and anonymity it guarantees. Sovereign nations will not allow transactions to occur without ensuring taxes are paid and the flow of funds is monitored.

 

Whether it's in the name of security or for some other reason, you can bet that as cryptocurrencies evolve, so too will government regulation and involvement. China has already started working on a digital renminbi. If the U.S. intends to keep its status as the world's reserve currency, it will need to digitize. By making all non-agency-sponsored currency illegitimate, the world's governments can rapidly marginalize currencies like bitcoin as the domain of bad actors on the fringes of society.

 

 

2.         How does blockchain work? The system that all cryptocurrencies are built on is a distributed ledger protocol (DLP). Think of it as the ultimate digital log. Imagine a digital version of the library book log many of us grew up with. It tracks who borrowed the book and for how long, and ensures its eventual return (or the appropriate fine). Now imagine if that book was digital and the log tracked who could borrow it, amend it and share it, and there was a complete digital footprint of every person's interaction with it. Now imagine that log not being monitored by a library, but instead being regulated and protected by the users. Think what it would mean if this technology was used for every product, transaction and payment throughout the world with secured access for approved participants.

 

3.         What are the implications of mass adoption of DLP technology? If the buyer and seller do not know each other, many transactions currently require an intermediary to reduce counterparty risk and ensure payment and the safe delivery of products and services. Ultimately, blockchain will completely change how the world interacts because it allows for the safe transfer of a product from one person to another if a set of programmed conditions is met. In the log, you can set the rules for who has access, for how long, and ensure safe payment. With blockchain, we aren't just logging the transaction, we are also guiding the transaction and all of the streams of payments along the way. Blockchain instills instant confidence in the transaction.

 

What happens when we really don't need to have a trusted middle man like a bank or an escrow agent to confirm delivery and payment? Or a title company to track the history of property? Over time, transaction costs will decline and many of the world's multifaceted intermediaries will have to evolve to survive.

 

Hurry up and wait

DLP technology today is like the internet in 1992, with immense potential but a messy learning curve. Investing in dotcom stocks in the late 1990s was a frenzy, and many of the pioneers ultimately failed. The real impact of the internet has taken decades to unfold, but the future of commerce and society has been forever changed. DLP technology has the potential to be just as impactful over time.

 

Should people buy bitcoin or other digital currencies today?

Just like the dotcom bubble, backing any one "winner" in the crypto craze is like placing a bet on a specific number in a game of roulette. It's so early and the outcomes are so uncertain that nobody knows who the eventual winners will be. You only win if you pick right and are fortunate enough to leave the table at the right time.

 

Origination: Joe Duran is founder and CEO of United Capital. Follow him @DuranMoney.

Investment News (http://www.investmentnews.com/article/20180125/BLOG16/180129956/how-bitcoin-and-blockchain-will-change-the-world)

COMMENTS

What do you think?

Thomas Prendergast

The Millionaire Maker

Martkethive poised to go to battle. Pay attention because it has taken 20 years to prepare for this journey into crypto wealth.

I have built Markethive as a walk in faith. Sometimes it has nearly broken me financially, but the Lord kept prodding me to build it. Through treachery with previous partners, financial collapse with Trivita’s damaged income, through suffering from heart failure and actually death in the hospital from heart failure, diagnosed with diabetes 2, having to move from Wyoming to Fargo, a wife that needs special care daily, I persevered because the Lord kept inspiring and prodding me to keep building it.

Last year (July 2016) I took Markethive out for trials, utilizing the Inbound Marketing  tools  and built the Valentus opportunity and became diamond in 12 days (breaking, even shattering the records!), then I rolled Markethive out to assist in an ICO opportunity and within 3 weeks produced over $180,000 in commissions and broke records again.

Keep in mind neither of these opportunities had the longevity capacity, like Trivita did, to become a legacy lifetime income. I was still looking.

This year, I actually died (obviously recovered)then was given a sobering diagnosis which sidelined me from any work for 5 months. Living on savings off my Bitcoins, I was able to focus on recovery and 4 weeks ago was diagnosed with no heart failure and no diabetes (a miracle blessing from the Lord, walking 10 miles a day and a strict diet) and was able to actually get back in the saddle again.

I was ready to get back into the fight and had a few false starts with The Trade Coin Club and Jet-Coin. Then an associate from my Trivita down line made me aware of Bitclub. Joe Able, one of the 3 founders of Bitclub Networks called me and paid to fly me out to meet him. I went with the intentions to pitch him for Markethive investments (I am obsessed with Markethive). Boy was I in for an amazing revelation.

As he introduced me to Bitclub (he took 3 hours out of his busy schedule for me to present this companies many facets and the details) I was overwhelmed, floored actually. It was a jaw dropping experience how well this company has been built, its foundational vision and mission. There is money to be made on so many levels and this company actually has ascended above all other MLMs in so many ways.

I could go on but I made a video to really illustrate how I am engaging Markethive into this. Millionaires will be made. 100s of them in my organization perhaps even 1000s because of the raw marketing power Markethive brings to this and I own Markethive.

Please join my group to get rolling into this huge opportunity tsunami. Surf is up. Big wave surf. Wax your boards and let’s safari brothers and sisters.

https://markethive.com/group/bitclub

Thomas Prendergast
Founder

Thomas Prendergast

Standpoint’s Ronnie Moas raises bitcoin forecast to $7,500

After calling latest surge above $4,000, Standpoint's Ronnie Moas raises bitcoin forecast to $7,500

  • The stock researcher issued a $5,000 price target on bitcoin in late July, and raised that by $2,500 on Monday after the digital currency's surge to a record high over the weekend.
  • Moas expects the market value of digital currencies to jump from around $140 billion to $2 trillion, and bitcoin to rise alongside that increase.
  • Moas said he never held any of the stocks he issued reports on, but now all of his investments are in digital currencies.

 

Standpoint's Ronnie Moas raises bitcoin forecast to $7,500    Standpoint's Ronnie Moas raises bitcoin forecast to $7,500  
1:14 PM ET Mon, 14 Aug 2017 | 00:50

Longtime stock researcher Ronnie Moas raised his price target on bitcoin by $2,500 on Monday after the digital currency hit all-time highs over the weekend.
"What's happening is the floodgates are opening," Moas, founder of Standpoint Research, said in a phone interview with CNBC on Monday. "I believe there are hedge funds and very deep-pocketed individuals going into this now, really hundreds of millions of dollars."

Moas first laid out his views on bitcoin's potential in early July and issued a formal report at the end of last month with a price target of $5,000 for next year.

He told clients Monday he now expects bitcoin to climb nearly 80 percent from the weekend's records to $7,500, and maintained the digital currency could surge to $50,000 in 2027 — representing a 28 percent annual compounded growth rate.

Bitcoin three-month performance

Source: CoinDesk

After bitcoin's uneventful split into bitcoin and bitcoin cash on Aug. 1, bitcoin has soared more than 40 percent to all-time highs.

Bitcoin climbed 5 percent Monday morning to a record high of $4,321.08, more than quadruple in value for the year, according to CoinDesk. At that price, the digital currency has gained about 50 percent in August.

As institutional investor interest in bitcoin grows, Moas expects digital currencies to become part of "strategic reserves" and "asset allocation models in the near future." He also said people in foreign countries will likely want to buy digital currencies as a more stable alternative to their national currencies.

"You can't look at this as a normal situation," he said. "We're in an industry that will probably go from $140 billion to $2 trillion and the bitcoin price will probably move with that."

The total market value of more than 800 digital coins listed on CoinMarketCap.com has climbed from around $20 billion at the start of this year to about $140 billion on Monday. Bitcoin accounts for about half of that value.

Year-to-date change in global value of digital currencies

 

Published by and fro

Source: CoinMarketCap

Another digital currency, ethereum, traded 1 percent higher near $307, according to CoinDesk. Ethereum has shot up more than 3,000 percent this year.

Bitcoin cash, an alternative version of bitcoin supported by a minority of developers, held steady near $300, according to CoinMarketCap.

Moas told CNBC that 100 percent of his investments are in digital currencies, with the majority in bitcoin and ethereum. He said he never invested in the stocks he issued reports on.

He added in his Monday note to clients:

"Any way that I look at these numbers, my forecasts are looking conservative. It looks to me as though we are at the same point in the adoption curve as we were in 1995 when we went from one million internet users to ten million. The following year the Netscape browser came online and we went from 10 million users to hundreds of millions of users overnight.

I expect that within a couple of years we will have between 50 and 100 million cryptocurrency users — up from approximately ~10 million today. We only have 0.15% market penetration right now — if that goes to 2% or 3% we will get to the $50,000 price target that I set at the beginning of July."

 

To be sure, many note that bitcoin remains like the Wild West compared with the established Wall Street market.

"People should understand they're not dealing with the NYSE right now. There's no regulation, there's no face that you can attach to these exchanges," Moas told CNBC, noting his digital currency holdings are spread across five exchanges.

Bitcoin lost more than half its value in 2014 as Mt.Gox, then the largest exchange by far, said it lost about 850,000 bitcoins (worth about half a billion U.S. dollars at the time) and filed for bankruptcy.

This July, the U.S. Department of Justice alleged in an indictment that a "sizeable portion" of the Mt.Gox losses were deposited in accounts controlled, owned and operated by an exchange called BTC-e and a Russian national named Alexander Vinnik. Vinnik was arrested in late July.

— Reuters contributed to this report.

WATCH: How practical is it to live on bitcoin in 2017? We tried it for a week

Originator and publisher:
@chengevelyn
Published 10:32 AM ET Mon, 14 Aug 2017  | Updated 11:08 AM ET Tue, 15 Aug 2017

Posted by,
Thomas Prendergast

Thomas Prendergast

Today’s automated money machine

Automated Money Machine Cryptocurrency

How To Automate Your Business Online, Create More Leverage And Automated Your Income.

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Tap into targeted list building strategies that show you exactly how to grow your list into the thousands. There's a whole lot less competition in your inbox than other places online, and the less your potential customer or client has to compete with other sellers, the easier it is for them to read, click and buy from YOU! I'm going to teach you step-by-step how to leverage email marketing like a ninja!

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Just register below (1 Click) and join me in my free live webinars. These webinars are state of the art technology that requires no registration, downloads and are private and secure. Come as you are.

 

Thomas Prendergast

Thomas Prendergast

The CoinPay merchant solution

The CoinPay Marchant Customer App opportunity

The Bitclub Network is getting ready to launch CoinPay, which is a new smart payment app that has been in beta (Thailand, Hong Kong, Korea and Japan) for over 18 months now. This platform will allow merchants to easily accept Bitcoin,  ClubCoin  and more by generating invoices and setting up products within a shopping cart that can easily be paid and settled quickly.

Bitclub has created an entire business model around members getting merchants to sign up for the platform. These commissions are paid strategically through the BitClub compensation plan, and as the merchant network grows we believe this could become the most valuable piece of BitClub Network.

Do you want a piece of CoinPay?

Not only will BitClub members have an exclusive to sell the platform and earn commissions on any merchants using it, but CoinPay will also be giving away 60-70% of the company to BitClub Network members in the form of ownership shares! These shares are FREE! Just like we gave you ClubCoin free (and continue to give it) we will be giving you shares of CoinPay as well.

You cannot buy these shares, you have to earn them through your membership and we will have many different incentives for you to earn more as the platform launches. It’s just another way that we like to provide value to our membership and help you cash in.

CoinPay will be its own entity with 1 billion tokens (coins) of this 600-700 million tokens will be given away to members of BitClub for FREE and the other 300-400 million will belong to the CoinPay corporate team, investors, programmers, etc.

CoinPay will operate independently of BitClub and its main focus will be on merchant adoption and support! CoinPay has been working in a private Beta for the last year.

We are now moving to the next phase with a full Beta launch to our Founders and anyone at the Pro Builder rank or higher. This will also be a limited Beta as we test on a larger scale and get feedback before we launch it fully.

You will be hearing A LOT more about CoinPay as it moves forward… It’s finally here…

Are you part of the Club already?

If not -> http://c.oinpays.com

CoinPay makes Bitcoin Payments Easy

Coming Services for Merchants

Cart Plugins Available

Thomas Prendergast
CEO
Markethive Inc.

 

 

Thomas Prendergast

Some Bitcoin Unlimited supports will see this as a push for SegWit adoption.

Some Bitcoin Unlimited supports will see this as a "push" for SegWit adoption.

The bitcoin network appears to be under attack once again. BitClub initiated a transaction malleability attack against the bitcoin network yesterday afternoon. Users are advised to exert caution when checking up on bitcoin transactions. It appears Jim Hilliard is the one responsible for this attack, albeit his motives remain unclear.

It seems odd to think a bitcoin mining pool would purposefully attack the network. BitClub owns 4.2% of the total hashrate, which makes them one of the largest in the world. For some reason, one of their members executed this transaction malleability attack since yesterday.All of the affected blocks were mined by the BitClub pool as well, which make it somewhat easier to find the culprit.

Network blocks 456545 and 456552 effectively halted block monitoring updates provided by popular platforms. A lot of bitcoin users had gotten concerned over this attack, albeit the motive remains unclear. It seems very likely this attack is a political move rather than a way to effectively harm the network. The tension between SegWit and Unlimited supporters has been heating up as of late.

A Successful Malleability Attack By BitClub

BitClub may try to influence developers and stakeholders to solve malleability issues. Segregated Witness is designed to address these problems once and for all, yet continues to be opposed by Bitcoin Unlimited supporters. There is a reason why companies and service providers all favor SegWit over BU, though. As a result of this BitClub-orchestrated malleability attack, a double-spend has been recorded. All transactions found within the two network blocks are double-spends.

An investigation has been launched to determine how this attack was performed. One thing is certain: malleability attacks need to be made impossible sooner rather than later. Rest assured this attack was unintentional by any means, as BitClub knew all too well what they were doing. Events like these always spark intriguing debates, even though this is a politically-tinted attack.

Some Bitcoin Unlimited supported will see this as a “push” for SegWit adoption. It is doubtful that is the case, even though BitClub identified a big flaw in the bitcoin ecosystem. If malleability persists, it will be impossible to tell which transactions are legitimate. Although it takes a lot of preparation to pull off such an attack, there is no reason to think it can’t happen again. Solving this problem needs to be the top priority right now. It appears we need SegWit for doing just that, regardless of how others may feel about this idea.

BitClub may try to influence developers and stakeholders to solve malleability issues. Segregated Witness is designed to address these problems once and for all, yet continues to be opposed by Bitcoin Unlimited supporters. There is a reason why companies and service providers all favor SegWit over BU, though. As a result of this BitClub-orchestrated malleability attack, a double-spend has been recorded. All transactions found within the two network blocks are double-spends.

An investigation has been launched to determine how this attack was performed. One thing is certain: malleability attacks need to be made impossible sooner rather than later. Rest assured this attack was unintentional by any means, as BitClub knew all too well what they were doing. Events like these always spark intriguing debates, even though this is a politically-tinted attack.

Some Bitcoin Unlimited supported will see this as a “push” for SegWit adoption. It is doubtful that is the case, even though BitClub identified a big flaw in the bitcoin ecosystem. If malleability persists, it will be impossible to tell which transactions are legitimate. Although it takes a lot of preparation to pull off such an attack, there is no reason to think it can’t happen again. Solving this problem needs to be the top priority right now. It appears we need SegWit for doing just that, regardless of how others may feel about this idea.

Published by JP Buntinx

JP is working hard to bring more credibility to the Bitcoin and blockchain news industry. Outside of being Europe Editor at Newsbtc, JP is also an active writer for the website, and does not shy away from letting his opinion be heard.

Thomas Prendergast

Thomas Prendergast

U.S. Signals Clampdown on Red-Hot Digital Coin Offerings

U.S. Signals Clampdown on Red-Hot Digital Coin Offerings

  • SEC says ICOs, cryptocurrency exchanges subject to U.S. law
  • Startups have raised hundreds of millions through ICOs

U.S. regulators said they have jurisdiction over one of the hottest new areas of finance: initial coin offerings of digital currencies.

Companies that raise money through the sale of digital assets must adhere to federal securities laws, the Securities and Exchange Commission said Tuesday. Issuers must register the deals with the government unless they have a valid excuse, as should exchanges that offer trading of cryptocurrencies like bitcoin and ether, the regulator said.

“It’s been a long time coming and this is a big deal,” said Angela Walch, associate professor at St. Mary’s University School of Law. “People have been waiting for some kind of signal from regulators on ICOs.” This is the most detailed the SEC has been about how digital currencies and the exchanges where they trade fit into financial markets, she said. “It’s a reminder that basic consumer protection principles still apply” in the digital asset world, she added. “The tech people coming in don’t necessarily realize they’re playing with fire.”

Startups have raised hundreds of millions of dollars selling such tokens in 2017, bypassing traditional initial public offerings of shares — a process overseen by the SEC — in favor of so-far mostly unregulated ICOs. The commission examined the sale of tokens to fund a startup known as the DAO last year, which raised about $150 million over four weeks, according to the SEC’s investigative report released Tuesday.

The agency’s enforcement division was asked to decide if the DAO token sales “violated federal securities laws with unregistered offers and sales of DAO Tokens in exchange for ‘Ether,’ a virtual currency,” the report said. The SEC decided not to bring charges in the DAO token sale case.

Instead, the SEC report said it wanted “to caution the industry and market participants: the federal securities laws apply to those who offer and sell securities in the United States, regardless whether the issuing entity is a traditional company or a decentralized autonomous organization, regardless whether those securities are purchased using U.S. dollars or virtual currencies, and regardless whether they are distributed in certificated form or through distributed ledger technology.”

One recent ICO was led by Gnosis, a prediction market application based on the Ethereum blockchain. It raised $12.5 million in 12 minutes on April 24, resulting in a market value of almost $300 million. It’s generated no revenue and has little more than a white paper describing what it intends to do. Yet its tokens, which would allow users to bet on things such as election outcomes, have soared 200 percent since early May, according to Coinmarketcap.com.

Open Question

An open question is whether the SEC will apply these new standards to coin offerings that have already happened, said Walch, who is also a research fellow at the Centre for Blockchain Technologies at University College London. And while the SEC won’t pursue action related to the DAO token sale, “I don’t see anything in here that says there won’t be enforcement actions against others,” she said. Some recent ICO have been “egregious,” she said. “I’d be very surprised if they were willing to shove them all under the rug.”
The SEC decision comes a day after the U.S. Commodity Futures Trading Commission gave LedgerX LLC approval to offer options trading based on bitcoin. That could help mature the business of bitcoin trading by helping traders offset risks with derivatives. But it also underscored the fact that digital currencies, decentralized technologies that appeal to the libertarian-minded, probably cannot escape governments.

ICOs offer an attractive deal to young companies: going directly to customers for funding, avoiding venture-capital firms and other professionals. SEC Chairman Jay Clayton addressed the balance he’s trying to strike, saying in the regulator’s statement that, “We seek to foster innovative and beneficial ways to raise capital, while ensuring — first and foremost — that investors and our markets are protected.”

“What the SEC did not say is that all tokens are securities. Rather, they suggest a facts-and-circumstances test,” Peter Van Valkenburgh, research director at Coin Center, said in an email. “We believe that applying the same facts-and-circumstances test to other tokens will mean that some do not fit into the definition of securities, particularly tokens with an underlying utility rather than a mere speculative investment value.”

Exchange Registration

Markets such as Coinbase Inc.’s GDAX and Gemini Trust Co. that offer trading in digital assets so far have dealt mostly with state, not federal, regulators. The SEC now says that will likely change. “Additionally, securities exchanges providing for trading in these securities must register unless they are exempt,” the agency said.

Calling that a “big deal,” Walch said, “Those in the crypto world have been acting as if they live in an alternate universe, and the SEC has delivered a reminder that they still live in the real world, with real investors and real people making decisions that they must be accountable for.”

 

By: Matthew Leising and Camila Russo
July 25, 2017, 4:16 PM CDT July 25, 2017, 5:10 PM CDT

Thomas Prendergast

Why Ethereum Could Become the Easiest Cryptocurrency to Mine

Why Ethereum Could Become the Easiest Cryptocurrency to Mine

Why “the Easiest Cryptocurrency to Mine?” Is the Wrong Question 

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FOREX INVESTORS BUZZ  Easiest Cryptocurrency to Mine The cryptocurrency revolution has arrived. With Bitcoin (BTC) hitting all-time highs, peaking at one point around $3,000 per unit—and Ethereum (ETH) going from around $10.00 to over $400.00 in under a year—these two leaders in the cryptocurrency market are making the case that they are some of the most lucrative investments in 2017.

But one of the most important developments in the cryptocurrency trade right now is finding the easiest coins to mine. In fact, the easiest cryptocurrency to mine is going to be a game-changer, because whichever online currency can manage that will ultimately become the cryptocurrency of choice for the world at large.

In the case of Bitcoin mining, for instance, the process involves a third party helping a transaction go through by interacting with the blockchain. In order to do that, they need their computers to solve a complex set of math problems that increase in difficulty depending on how many miners are currently working, and decrease in difficulty if there is a dearth of miners working.

While the process is time-consuming and costly, the reward for helping that transaction go through is a Bitcoin. Not a bad trade, all things considered. Except that mining is by no means a cheap endeavor. Cryptocurrency mining takes a very strong computer, as well as a large amount of energy to power said computer.

One projection argues that Bitcoin transactions may consume as much electricity by the year 2020 as the entire nation of Denmark. (Source: “Proof of Work vs Proof of Stake: Basic Mining Guide,” BlockGeeks, last accessed July 12, 2017.)

Cryptocurrency Mining Hardware

As explained, there is a high barrier to entry when trying to mine for BTC and ETH, as well as severe energy costs. They are not the easiest coins to mine, but they are your best bets if you’re dead-set on going that route.

But a better alternative may be to look at what Ethereum is doing. The company has mentioned that it is looking into changing the way it handles mining from a proof-of-work model to a proof-of-stake model.

Essentially, instead of having miners compete, a third-party peer would be selected to help the process along. They will make a security deposit so the exchange would be done in good faith, and the process will be many magnitudes more efficient, cost-effective, and speedy.

At that point, Ethereum would become the easiest cryptocurrency to mine. With ETH becoming the easiest coin to mine, expect the value of ETH to rise accordingly.

This all makes Ethereum potentially one of the best investment opportunities in the cryptocurrency market, with huge growth on the horizon if this mining process switch is implemented correctly.

(Data source: “Ether Historical Prices (USD),” Etherscan, last accessed Juy 12, 2017.)

Best Cryptocurrency to Mine with CPU

With the Ethereum changeover expected to happen sometime in 2017, that would make ETH a good cryptocurrency to mine in 2017. Not only will the cost of production of a ETH be lowered, and therefore make the mining process more profitable overall, it will be streamlined and simplified, making this one of the best potential cryptocurrency mining opportunities out there.

With Ethereum, you get a rising cryptocurrency with a decent amount of support already in the market, where ETH is one of the more trusted options available.

Original article found here:

Posted by
Thomas Prendergast

 

Thomas Prendergast