All posts by Thomas Prendergast

Former US Defense Official Urges Govt to Incentivize Blockchain Investments

Former US Defense Official Urges Govt to Incentivize Blockchain Investments



Former Department of Defense official Eric Rosenbach

urged the United States Foreign Relations Committee to incentivize blockchain investments as part of a wider strategy to combat cyberspace threats. Rosenbach, who served as Assistant Secretary of Defense for Homeland Defense and Global Security during the Obama administration, made this remark during a speech titled “Living in a Glass House: The United States Must Better Defend Against Cyber and Information Attacks.”

Rosenbach’s thesis is that cyber warfare is asymmetric in that “a small nation with an offensive cyber capability can have an outsized effect on a large power” such as the United States. He believes that the high rate of internet access within the United States, along with the open nature of American democracy, renders the nation vulnerable to a cyber attack from a hostile actor such as North Korea. He believes such an attack “is likely to happen within the next year if current trends continue.” He argues the United States must guard itself against cyber attacks by pursuing an aggressive,

tech-based approach.

In sum, the strength of the tech sector and the internet has driven American economic growth and strengthened our democracy for the past two decades. The corollary of this success, though, is that the US is increasingly vulnerable to cyber and information attacks. In order to maintain the “center of gravity” for the United States, we must bolster America’s cybersecurity posture and rethink our strategy for countering foreign information operations.

Specifically, he advised the US government to “incentivize investment in cloud-based security, blockchain-enabled transactions, and quantum computing.” Such technological investments should help secure American against cyber threats.

How Will Governments and Blockchains Coexist?

Many cryptocurrency advocates will bristle at some of Rosenbach’s other security suggestions, including withholding information about cybersecurity vulnerabilities from the public domain. However, as governments begin to realize the possibilities presented by blockchain technology, it is inevitable that they will try to find ways to use it for their own purposes. To this end, the Department of Homeland Security recently awarded grants to blockchain researchers, and just this week the State Department established the Blockchain@State working group.

The first blockchain was designed as a tool for revolutionary decentralization. Governments, by necessity, will look to co-opt the technology and integrate it into centralized frameworks. Only time will tell what role the government will play in blockchain technology’s future, as well as how blockchain technology will affect the nation-state.

Chuck Reynolds

Marketing Dept

Please click either Link to Learn more about -Bitcoin.

Thomas Prendergast

Billionaire Novogratz: Ten Percent of my Wealth in Crypto-assets like Bitcoin and Ether

Billionaire Novogratz:
Ten Percent of my Wealth in Crypto-assets like Bitcoin and Ether

Despite the Winklevoss bitcoin ETF's disapproval,

could an investment drive by one billionaire ignite a larger movement of money into cryptocurrrency. Michael Novogratz, estimated to be worth billions, stated at a Harvard Business School Club of New York forum on April 19:

"Ten percent of my net worth is in this space."

Investment Opportunity of a Lifetime?

The cryptocurrency play was the "best investment of my life," Novogratz said, whose exact wealth is not known but has appeared on the Forbes billionaire list in 2008 and is a former hedge fund manager for Fortress Investment Group. During his stint at Fortress, Novogratz stated he had put his personal wealth into bitcoin as early as October 2013, and the firm were looking at the cryptocurrency. It is no surprise that Novogratz picked up ealry on bitcoin, given that Fortress is a macro fund, focusing on macroeconomic fundamentals to make investment decisions.

Bitcoin, which demonstrates a decreasing supply of new bitcoins, has been such a stronger performer against fiat currencies because of a key macroeconomic fundamental; inflation. The bitcoin ecosystem enjoys progressively lower inflation levels as the block reward is reduced over time, whereas inflation for fiat currencies is determined by a variety of factors, including discretionary monetary policy, versus the fixed, rules-based policy of Bitcoin. Consequently, the price of bitcoin has broken many key psychological levels against the US dollar (as well as other major currencies); the $1 handle, the $10 level as well as the $1,000 mark more recently. In 2013, Novogratz justified his long position and said that he sees bitcoin growing as a payment system, especially in developing nations. Later in 2015, Novogratz left Fortress. The macro fund suffered a setback in 2015, losing as much as 17 percent on the year.

Diversification is Imperative for Crypto Investors

At the Harvard Business School Club event, Novogratz told of how people laughed at him when he invested in bitcoin in 2013. He also predicted that the cryptocurrency will head to $2,000 next. But the billionaire is not all-in on bitcoin and suggested to diversify, where you should put money into many cryptocurrencies. For instance, Novogratz also invested in ether early on, when it was less than $1. In the first quarter of 2017, the combined market capitalization of all cryptocurrencies grew from $17.5 billion to $25.2 billion. Decred and Golem were notable outperformers, with percentage value growth in the thousands for Decred (2,410.64 percent). Other altcoins performed strongly, such as ether, Dash, XEM, and Stratis, all boasted growth rates in excess of 100 percent.

Furthermore, the combined altcoin market capitalization saw a more than proportional gain than the entire cryptocurrency market in Q1, growing from around $2 billion to $8.1 billion. Will Novogratz's disclosure invalidate concerns about bitcoin gaining acceptance following the ETF disapproval? People can still invest in cryptocurrencies, but they will have to overcome a knowledge barrier. With potentially astronomical gains, taking the time to seek this knowledge is likely to be worth your while. Perhaps with the billionaire moving his wealth into cryptocurrency, others will pay attention and Novogratz's shift could be a tipping point for the flow of money into this emerging technology, which should precipitate further interest from investors in the future.

Chuck Reynolds

Marketing Dept

Please click either Link to Learn more about -Bitcoin.

Thomas Prendergast

Bitcoin, Blockchain Payments Startups Win RemTECH Awards at United Nations

Bitcoin, Blockchain Payments Startups Win RemTECH Awards at United Nations



Bitcoin and blockchain services

Airpocket, Bitso, Everex, Moneytis and Trulioo have taken home awards at RemTECH, an awards show for the remittance industry. Airpocket won the award for ‘Remittances and Financial Inclusion.’ Bitso won the award for “Pioneering Spirit.” Everex won for ‘Service Originality.’ Moneytis won for “Most Innovative Service” and Trulioo won for its “Potential for Growth.”

Nine blockchain companies received recognition as innovators in remittance technology by the RemTECH awards, which recognizes groups and individuals transforming cross-border exchange. 15 companies overall were nominated, demonstrating the degree to which Bitcoin, and blockchain generally, have transformed the financial technology fabric. The awards show was held at the United Nations headquarters in New York City.

The blockchain companies nominated by RemTECH included mostly Bitcoin-using outfits, such as Bitso, Bitex, Cashaa, Digital X, Moneytis, OKlink and Trulioo. It also nominated Everex, the only Ethereum-based project behind ‘Cryptocash’, which sets out to place fiat currencies on the blockchain as a basis for cross-border microfinance services. Remittance firm UAE Exchange earned a mention. The payments solutions company recently led a Series A investment into a blockchain loyalty program developer.

“We are happy to see increased number of blockchain companies alongside many traditional financial technology companies,” Everex CEO Alexi Lane told CCN. “The blockchain companies highlighted demonstrate that the technology behind popular platforms like Bitcoin and Ethereum is working today to improve not only global remittances, but other financial services. ”

“Like credit card transactions, blockchain records show how much is spent, so we can apply AI and machine learning to analyze the data and come up with the loan rate to offer the user,” explains Mr. Lane. Other blockchain projects recognized include DigitalX, a mobile bill payments and remittance company, which uses public bitcoin and blockchain technology to create its patent pending technology called AirID and the award-winning Airpocket. Bitex is a global Bitcoin service provider. Bitso, winner of the “Pioneering Spirit” award, is a Mexican bitcoin and ether exchange at the heart of that country’s digital currency economy.

Cashaa is a peer-to-peer market to transfer cash over its blockchain-agnostic platform. “Potential for Growth” winner, Trulioo, offers global identity and verification services, while providing instant electronic identity and address verification. While the winners were announced in New York, the nominees were announced Wednesday in San Francisco at the International Money Transfer and Payment Conference (IMTC USA 2017). The awards show specifically highlights those groups or individuals which improve “transparency, speed, cost and reliability for the companies and end-users that send and receive remittances every day.”

Blockchain allows many different people, who otherwise have no association, to write entries into a distributed data record. The people using a blockchain platform can control how data in such an arrangement is changed and updated. Along with cryptographic keys, such a shared ledger can ensure information is authentic and authorize actions based on this data. (think: digital transaction) Such technology is changing the way people send money across borders. Alongside blockchain startups, payment companies nominated include TransferTo, Azimo, Remit-one, Comply, Advantage, Safaricom, Xoom and EcoCash, Diaspora, STPMEX and WireCash.

Chuck Reynolds

Marketing Dept

Please click either Link to Learn more about -Bitcoin.

Thomas Prendergast

Ethereum Basics: A Starter Guide for Entrepreneurs and Investors

Ethereum Basics:
A Starter Guide for Entrepreneurs
and Investors

If you are familiar with the terms “Bitcoin” or “blockchain,”

you’ve probably heard of Ethereum, as it has been one of the most widely covered projects in the media. This primer will provide a basic understanding of its viability and future prospects.

What Is Ethereum and How Does It Work

Ethereum is a decentralized, software platform based on blockchain technology that is layered on the Internet. The network functions as an ecosystem of computers, which facilitates the use of new applications. It utilizes a programming language similar to Javascript, which is what developers use to build Smart Contracts. These “Smart Contracts” are applications that execute pre-programmed commands all while mitigating the likelihood of fraud, downtime, censorship, or third-party tampering. They have myriad applications to support functions like trade settlements and the management of real estate transactions.

This coding language and protocol in these smart contracts as a foundational element of Ethereum possess the intelligence to self-enforce and execute commands without human intervention. They can be utilized for multiple purposes involving such things as title registries, corporate entities, election result tabulations, and untold other applications. For this reason, many believe that these programs could replace lawyers, banks and other third-party intermediaries for many common legal and financial transactions.

Each participating stakeholder in the vast Ethereum system is rewarded for their investment in hardware, electricity and processing power used to help run the network. This reward to “miners” comes in the form of a newly created crypto-token known as ether. Once received, computer owner have a couple of options in terms of the use of the ether. For starters, they can further monetize their work and then exchange the ether for fiat in the form of dollars for example. Or they can sell their ether to decentralized app (dApp) developers who may be seeking it for funding to run their dApps on the Ethereum network.

What Makes Ethereum Unique

Unlike all other blockchain platforms in existence, Ethereum is a “Turing complete” system which allows highly sophisticated programs to be designed to run on it. In a 2015 article in Fast Company Magazine, Ethereum was described as a “global computer” that can deliver applications for enterprises while circumventing “inefficient bureaucracies and the other intermediaries who take a slice of the pie.” Unlike the Bitcoin blockchain which has limitations in terms of its functional potential, mostly tied to its scripting language, Ethereum is more broad and expansive regarding its applied nature. This is largely the result of the fact that its functionality allows for the development of dApps on top of it.

As opposed to the Bitcoin community which is embroiled in a fierce debate over its storage capacity, Ethereum can be easily scaled. This means that Ethereum’s capacity for acquiring a massive user base is beyond limits. As both a digital currency and technology platform that is not as hindered by political or ideological barriers, the reliability of growth and flexibility with Ethereum is greater than most other blockchain-based options thanks to a coherent community. Nevertheless, from a technical standpoint, if Ethereum reaches Bitcoin's level of popularity, it will run into the same scaling problems.

History of Ethereum

The beginning of Ethereum dates back to 2009, with the emergence of Bitcoin as the world’s first ever practical, decentralized solution. Bitcoin and its supportive blockchain ecosystem served as a catalyst and inspiration for Vitalik Buterin.

The journey of Buterin, a Russian-born Canadian in conceiving Ethereum is an interesting one. He cofounded Bitcoin Magazine in September 2011, and then in 2012, he dropped out of the University of Waterloo to trek the world and engage in a number of cryptocurrency projects. After this trip and over two years of examining prevailing blockchain technologies and applications, he wrote a much publicized white paper which was released in November 2013. The purpose of this document was to offer a template and vision about the new Ethereum technology, along with basic principles and potential applications. This was the catalyst for the commencement of the Ethereum Project on January 23, 2014, per Buterin’s announcement on the Bitcointalk forum.

Ether and the Ethereum Foundation

Ethereum’s currency is known as ether (ETH). And as in the case of Bitcoin, it, too, is situated on a blockchain. Ether is the digital currency which fuels the execution of and modification of applications situated on the decentralized Ethereum network. The key driver of this initial funding effort was the Ethereum Foundation, a Swiss legal entity created in 2014, to oversee the legal and marketing efforts for the initial crowdfunding campaign. A pre-sale of over 60 million ether was conducted to foster a community of software developers, miners, investors and other stakeholders charged with developing the ecosystem. Ethereum has consistently held the position as the second largest market capitalized cryptocurrency after bitcoin.  

With Ethereum still in its infancy, new digital wallets and exchanges for purchasing and storing ether have been slow in development. Currently, the most prominent, stable and popular options are MyEtherWallet, Kraken, Coinbase, Circle, and While Bitcoin has a hard cap on the total number of coins released into its system, Ethereum utilizes a disinflationary model, which means the rate of inflation will decrease steadily year after year. This model has both positives and drawbacks.

Ethereum Advances

ETH DEV was set up for the sole purpose of overseeing and orchestrating the ever-changing roadmap of Ethereum development. Several Proof-of-Concept versions of the Ethereum software have since been released with ongoing updates provided via the official blog. In 2014 DEVCON-0 hosted developers from throughout the world gathered to explore issues around network security and scalability. This gathering fueled several crucial updates to the software.


As is the case with any emerging, application technology, security is paramount to establishing trust within the entrepreneurial and investor communities. While the core protocol is generally secure and tamper resistant, a well-publicized breach with The DAO – the first Decentralized Autonomous Organization on the Ethereum blockchain struck a cautionary tale in terms of potential vulnerabilities with any new technology. To address any looming concerns, the Ethereum Bounty Program has been in place for a number of months, offering substantial incentives for anyone able to find weaknesses in the software or code methodology.

Future Innovation

The beauty of the platform is that it allows any developer to utilize it to build and publish new, distributed applications. To fuel development on this front, the Ethereum Foundation established a DEVgrants program to identify and fund promising projects. This program was re-started January 2016 after a brief hiatus, for aspiring developers to take advantage of. As a result, growing numbers of developers have migrated to the network, launching new projects and promising application experiments.  

Long-Term Investment and Entrepreneurial Possibilities

The immense potential of Ethereum-related applications has sparked a growing interest among major stakeholders and investors worldwide. Many startups in this space are showing significant interest, and in some cases, receiving silent investments, from VC firms specializing in blockchain-related innovation. Growing numbers of investors are engaged in due diligence and research on the ever expanding number of startups that are employing these Ethereum-based dApps. Many, while cautiously optimistic, are hesitant however to take the leap amid an evolving developer community that is still relatively small and lacks sustained case examples.

For entrepreneurs, Ethereum offers an ocean of possibilities for layering solutions on top of its ecosystem. Despite Bitcoin’s meteoric rise, some see Ethereum as a more robust platform for smart contracts, identity management, and other advanced technology applications; many startups are considering the second most valuable blockchain network because of its ease of use and simple scripting language. For both investors and entrepreneurs, the overall mood is a positive one. However, these potential stakeholders are only now beginning to assess the long-term prospects of Ethereum’s value. Blockchain-centric Ethereum, promises to usher in a new age of technological advancement by taking information and transactions out from under monopolist institutions and creating decentralized mechanisms for the free exchange of goods and services.

Ethereum’s biggest impact may well be found in both traditional economic systems as well as the rapidly emerging sharing economy. Eventually, it is believed that its presence will infiltrate all segments of society tied to advancements in the Internet of Things. As a result, financial and other legacy institutions will experience massive competition forcing them to reexamine the core models that brought them to this point. Through all of this, reduced costs and increases economic activity will harken in a new economy. In the end, the long-term trajectory of Ethereum’s future rise is anyone’s guess. But many in the community would argue that it appears quite favorable based on some early use case successes. Moving forward, Ethereum's progress will be largely predicated on its ability to grow and adapt over time amid what is certain to be many hiccups and missteps along the way.

Chuck Reynolds

Marketing Dept

Please click either Link to Learn more about -Bitcoin.

Thomas Prendergast

ZCash, Ether, and Monero Miners Can Now Use Nvidia Pascal GPUs

ZCash, Ether, and Monero Miners Can Now Use Nvidia Pascal GPUs

The impressive rally in digital currencies

in the past three months has given the cryptocurrency mining industry a boost. Demand for mining equipment is higher than ever as individuals and companies are looking to profit from the increased value of many cryptocurrencies through mining.

As BTCManager reported on June 9, the shares of the semiconductor firm Advanced Micro Devices (AMD) have skyrocketed due to a surge in demand for its graphics cards, which cryptocurrency miners are increasingly using to  bring more digital currency into existence. AMD, however, is not the only publicly-traded technology firm that has benefited from the boom in cryptocurrency mining.

Nvidia Pascal GPUs More Efficient Than AMD’s

California-based Nvidia produces graphics processing units (GPUs) that are primarily using in the gaming space. Recently, however, cryptocurrency miners have increasingly started to purchase Nvidia’s GPUs to boost their mining productivity. More specifically, Nvidia’s Pascal-based GPUs.

Nvidia’s Pascal GPUs, such as the GTX 1060 and the GTX 1070, have demonstrated to be more efficient than their counterparts produced by AMD. According to research conducted by RBC Capital Markets Analyst Mitch Steeves, who compared the cryptocurrency mining performance of Nvidia’s GTX 1070 with AMD’s RX 580 GPU for the digital currency ether, Nvidia’s GPU required 33 percent less power consumption and is, therefore, a much more efficient graphics card for mining than the popular RX 580. “If we switch to building a full Data Center environment, electrical costs become increasingly more important (Bitcoin environment), and the older NVIDIA GPUs outperform AMD over the course of a year,” Steeves stated.

Nvidia’s Pascal-Based Mining Hardware

To profit from the crypto mining boom, Nvidia has launched mining hardware built using eight Pascal GP106-100 GPUs, which are being referred to as “mining cards.” The mining hardware is targeted at ether, zcash, and monero miners and aims to maximize the productivity and efficiency of the mining process. The mining equipment uses an Intel Celeron Mobile processor, a 64GB mSATA SSD, 4GB of DDR3 DRAM, and up to 1600W PSU. The power supply unit (PSU) is not included and is listed as optional to allow users to choose what they need for the specific currency they want to mine. Each cryptocurrency has different power requirements when it comes to mining.

For example, to mine Ethereum’s ether, it is recommended to use 1000W PSU, which delivers roughly 200MH/s (+/- 5 percent. To mine zcash, 1050W PSU is recommended, which delivers roughly 2500 Sol/s, while monero mining required around 700W, which delivers roughly 4400 H/s +/- five percent. To run Nvidia’s mining machine, seven six pin 12V power connectors are needed plus eight additional six pin connectors to run the “mining cards.” Furthermore, the system is setup for passive cooling on the GPUs while the enclosure makes use of five inflow and four outflow higher power system fans to keep the system cooled and functional.

Should the impressive rally in cryptocurrencies continue throughout the year, bitcoin mining equipment producers will see their business flourish as more and more individuals are jumping onto the cryptocurrency mining bandwagon in the hope to make a nice profit.

Chuck Reynolds

Marketing Dept

Please click either Link to Learn more about -Bitcoin.

Thomas Prendergast

Coinsilium Invests in Blockchain-Based Professional Network Indorse

Coinsilium Invests in Blockchain-Based Professional Network Indorse

Singaporean blockchain startups are continuing to attract more investors

to this emerging sector. On June 9, early-stage startup accelerator Coinsilium announced a SGD$100,000 ($72,500) investment in Singaporean blockchain-based Linkedin-like professional network Indorse.

According to the official press release, the deal was secured with the issuance of a convertible loan which granted Coinsilium an undisclosed number of the native tokens of the Indorse blockchain network. Essentially, the deal was settled in a way similar to how Initial Coin Offerings (ICOs) are conducted within the cryptocurrency market except in a private manner. In a publicly disclosed ICO, a certain number of native tokens of a blockchain network are up for sale within a limited timeframe. For instance, most recently, the Bancor Network deployed on top of the Ethereum network raised $150 million within a three-hour timeframe by issuing its unique native tokens to investors.

Instead of conducting a public ICO like most Ethereum-based blockchain projects and companies have done in the past few months, Indorse opted to carry out a private ICO-like deal with an early-stage accelerator to facilitate its growth and scale proportionally in the Singaporean market. Eddy Travia, the CEO of Coinsilium, revealed that Indorse will serve professionals as a monetizable platform. Users on the Indorse blockchain-based professional network will be able to earn reward tokens by sharing their skills and activities.

More to that, 21 Inc, which raised $116 million from an all-star team of early-stage investors, switched its main service or product from 21 Inc computer-based applications to a bitcoin-accepting inbox that allows users to receive an email response from other users in the network by paying a reward at a price set by the email respondent. The company released this service due to the lack of incentive provided by existing platforms such as Linkedin when responding to messages and invitations. Indorse can also include 21 Inc’s bitcoin-based inbox product by utilizing its native tokens and its blockchain network. If its blockchain focuses on flexibility rather than security like the Ethereum network, it will be able to introduce a wide range of applications and features for professionals.

“Indorse will also allow users to profit from sharing their skills and activities on the platform via reward tokens. This is a new and game-changing model in a multi-billion-dollar social media industry, and we are confident that Indorse has the requisite skills and talent to propel Indorse to become one of the world’s most popular decentralized social platforms,” said Travia. David Moskowitz, Co-Founder, and CEO of Indorse explained that the long-term vision of Indorse is to position itself at the forefront of tokenization and decentralization. It aims to target the Singaporean market in the beginning and gradually expand


“Indorse has the aim to revolutionize professional social networking using new models of tokenization and decentralization and we believe that Coinsilium’s expertise and deep knowledge in this space will be a strategic advantage to reach our goals."

On March 6, CB Insights released a report entitled “Global Ledger: Mapping Bitcoin & Blockchain Startups Around The World” which revealed that Singaporean blockchain market stands behind US and UK as the third largest blockchain industry in the world. If Singaporean blockchain and bitcoin startups such as Indorse continue to raise the interest of early-stage investors in both Asia and internationally, Singapore will continue to lead the Asian market as the continent’s blockchain hub.

Thomas Prendergast

The Few Ways To Fund Your Blockchain Project

The Few Ways To Fund Your
Blockchain Project

The success or failure of an entrepreneurial venture

is closely tied to how much liquidity the startup has. That is no different in the bitcoin economy. You can be developing the most innovative world-changing technology but if you run out of funding you will have to close shop no matter what. Fortunately, nowadays, there are several ways to fund your blockchain project that does not involve begging your bank for a loan.

Here, you will be introduced to these popular alternative ways to fund your blockchain venture that could make the difference between your project failing or succeeding.


The easiest and most hassle-free way to fund your startup venture is by bootstrapping it, if you and your team of developers are in the position to pool your own funds together to get the project off the ground. The benefits of funding your startup yourself is that you have no outside shareholders or private investors to answer to. Furthermore, by bootstrapping your project you are not diluting your share in the company, which may one day be worth a lot of money.

Venture Capital

One of the more traditional ways for startups to receive funding is to pitch their idea to venture capital funds that are looking to invest in promising startups. Access to venture capital funding for tech firms, especially fintech firms, has been relatively easy in the last few years. Not only because there has been in a boom in both tech and fintech, but also because investors are looking for higher returns than they can currently get in the stock and bond markets.

Venture capital funding from leading blockchain VCs such as the Digital Currency Group, Blockchain Capital, Union Square Ventures, and Ribbit Capital, would not only give your project a financial boost but would also give your startup a certain degree of industry approval. This, in turn, can help to secure further funding down the road. Having said that, having venture capitalists as investors also means that you will have to generate a profit sooner than later as investors want to see returns. Also, some VCs like to take a more hands-on approach with their investments, which could mean you as a founder may not be calling all the shots anymore.


If your own funds will not suffice to get the project off its feet, however, then you need to look at other options. One of these options is crowdfunding. Crowdfunding refers to the raising of capital from a number of private individuals who contribute small amounts to the project, usually through the use of an online crowdfunding platform. When it comes to crowdfunding, there are three main types: reward-based crowdfunding, donation-based crowdfunding, and equity-based crowdfunding.

Rewards-based crowdfunding as the name suggests rewards those who fund the project or startup with rewards. Rewards can come in the form of a handwritten thank you letter to a mention on the startups websites to early access to the startups upcoming product. One of the most popular rewards-based crowdfunding platforms is U.S.-based Kickstarter. Donation-based crowdfunding is usually found in the non-profit sector and is a way for individuals or NGOs to fund a charitable project that they are launching. In the for-profit space, donation-based crowdfunding is rather rare.

Equity-based crowdfunding rewards investors with a small share in the company that they are funding. Hence, instead of having to go public to raise money from private investors, startups can leverage online equity-based crowdfunding platforms such as Crowdfunder, CircleUp, and WeFunder. Interestingly, the crowdfunding platform WeFunder has started to accept bitcoin as a payment method for making contributions to crowdfunding campaigns, which makes it an interesting funding source for those looking to tap into the bitcoin community to raise capital.

Peer-to-Peer Loans

If you do not like the idea of giving away a share of your company to outside investors and are comfortable to take on debt to fund your project, you could apply for a peer-to-peer loan. Peer-to-peer loans are a form of debt financing that involves several individuals lending money to a startup or an SME via an online peer-to-peer lending platform.

To secure a peer-to-peer loan you have to apply to have your funding requirements listed on a peer-to-peer lending platform such as LendingClub and Prosper. Once your funding requirements and terms and condition are agreed upon by both the startup and the P2P lending platform, the loan is listed and individual investors can fund it. Once the loan is fully funded, the startup receives the funds and repays the money plus interest over the term of the loan in monthly installments. All payments are handled through the peer-to-peer lending platform. Peer-to-peer loans are an excellent form of financing for those who are struggling to receive a bank loan, which is the case for many bitcoin startups, and for those who prefer not to give away equity in their new company.

Initial Coin Offerings

Finally, probably the most popular method of funding a new blockchain project today is through an initial coin offering. Initial coin offerings, also known as token sales, crowd sales, and initial public coin offerings, are a new way of funding startup ventures through the sale of a digital token. These digital token, also known as cryptocurrencies or cryptoassets, then act as an indirect stake in the project and, therefore, indirectly tracks the performance of the startup. In that sense, ICOs are similar to stock IPOs with the key difference being that the investors do not hold actual equity in the company. Instead, a digital token that is indirectly linked to the project’s performance.

From the company’s point of view, ICOs are an excellent way to raise funds without actually having to give away equity in the company while not having to resort to debt financing.  While launching your own digital token may seem daunting to some, there are platforms such as TokenMarket that will handle the entire process for you for a fee. Thereby, making fundraising via an ICO accessible to anyone looking to launch a new blockchain project.

Chuck Reynolds

Marketing Dept

Please click either Link to Learn more about -Bitcoin.

Thomas Prendergast

Stockholm will Host the First Large Conference on Cryptocurrency and Blockchain

Stockholm will Host the First Large Conference on
Cryptocurrency and Blockchain

On September 7, for the first time,

the Swedish capital will host a large conference dedicated to blockchain technology and cryptocurrency.
The event is a part of Blockchain & Bitcoin Conference, which is the first and the largest network of crypto conferences in Europe. Organizer is Smile-Expo that holds similar events in the Czech Republic, Estonia, Russia and Ukraine. Key topics include implementation of blockchain technology in business, legal regulation of cryptocurrencies (practices of various jurisdictions), increase of living standards using new technologies, development of smart contracts in the decentralized economy.

Special attention will be paid to the blockchain development in FinTech. Participants will analyze already existing blockchain-based projects in the banking sector; there will be a lot of analytics and discussions. In autumn 2016, the Central Bank of the country announced its plans for the development of a national crypto currency. These plans may be implemented in two years. The Swedes use traditional money more rarely; since 2009 the amount of coins and cash in Sweden was reduced by 40 percent.

Blockchain development in the country is supported by the government; in 2016, there was an experiment on transferring records on land ownership right in the digital format. The project involved the blockchain-based technology of smart contracts. In addition, Nasdaq Stockholm exchange issued the first bitcoin-based security. The Bitcoin Tracker One asset received a certificate of the governmental financial regulator and was accepted for trading. In June, the Swedish project on blockchain implementation in energy sector was launched. A department of government corporation Vattenfall together with 20 European companies started the development of a blockchain platform for electricity trading.

These and other blockchain projects will be discussed by the participants of Blockchain & Bitcoin Conference. According to the organizers, participation in the conference is already confirmed by Eric Benz, the Managing Director at the Bitcoin debit cards issuing company Cryptopay, Frank Schuil, CEO at Safello bitcoin exchanges and Karolina Marzantowich, the Leading Developer of Polish branch of IBM. Together with the conference, there will be an exhibition of crypto hardware, software and services for the industry.

Chuck Reynolds

Marketing Dept

Please click either Link to Learn more about -Bitcoin.

Thomas Prendergast

Bitcoin-Ethereum Flippening Fervor “Makes No Sense,” Claims Vinny Lingham

Bitcoin-Ethereum Flippening Fervor “Makes No Sense,” Claims Vinny Lingham


Both bitcoin and ether prices fell today,

putting off what many traders consider inevitable—the “Flippening.” The Flippening, of course, refers to the potential future date when Bitcoin could lose its status as the largest cryptocurrency by market cap. Many coins have tried to usurp Bitcoin through technical innovations, corporate partnerships, and marketing strategies, but Bitcoin has continued to reign supreme.

Only recently has the Flippening become a real possibility. As the ether price has surged to a high of more than $400, Ethereum has become the first cryptocurrency to get within striking distance of Bitcoin’s market cap. Many crypto-pundits have begun to ponder what will happen if the Flippening does occur. Will it be the beginning of the end for Bitcoin? Will the Ethereum platform finally take the blockchain mainstream?

The Flippening “Makes No Sense”

Others, such as Gyft co-founder and Civic CEO Vinny Lingham, believe those questions are meaningless and irrational.

As he stated on Twitter:

Bitcoin is better money, deflationary & scarce. Ether is not really money, inflationary & abundant. The flippening makes no sense[.]

What Lingham’s tweet alludes to is that, strictly speaking, Bitcoin and Ethereum are not competitors. Bitcoin is designed to function as a currency (which is why Bitcoin nodes validate addresses), while ether is meant to serve as fuel for Ethereum’s decentralized smart contracts platform; this is why the developers of Ethereum refer to ether as a “token” and advise it is not intended to be used as a currency. However, that warning has not stopped people from treating ether like a currency.

Lingham notes bitcoin derives its value from its scarce and deflationary nature. Ether, in contrast, is inflationary. Ether issuance is capped at 18 million per year (the move to Casper should decrease that number further), so the rate of inflation will decrease every year, but the token will remain inflationary to some degree. Ether’s inflationary nature has proved unpopular with some Bitcoin proponents, many of whom were first attracted to cryptocurrency because of Bitcoin’s “digital gold” nickname. Flippening numbers on Thursday.Additionally, as Lingham points out, there are already far more ether in circulation than bitcoins (~92.5 million ETH to ~16.4 million BTC).

What is Money?

Lingham’s tweet triggered a litany of replies (more than 130 at the time of writing). Lightning co-founder Elizabeth Stark ascribed the Flippening to short-term ether speculation. She stated that “Users and real use cases are what will matter,” not short-term market cap rankings.

Before long, the thread had devolved into arguments about the fundamental nature of money. BitPoint CEO Aaron Foster, for instance, argued that Ethereum will surpass Bitcoin’s market cap and that to deny that ether is money is “stupid,” even though Ethereum nodes do not validate addresses. “What is money?,” he asked. Olivier Janssens rejected the assertion that Ethereum cannot serve as a store of value.  Others compared ether to the U.S dollar (both favorably and unfavorably) and pushed back against Lingham’s assertion that deflation is a positive attribute for a currency to have. In any case, the Flippening frenzy should serve has a reminder that no matter how technologically-advanced humanity becomes, it will likely never reach consensus on one of the society’s most fundamental questions: “What is money?”

Chuck Reynolds

Marketing Dept

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Thomas Prendergast

It’s a Cryptocurrency Bloodbath

It’s a Cryptocurrency Bloodbath



The market correction that a number of analysts have predicted

has hit, with leading cryptocurrencies losing in double digits in the last 24 hours. Market leaders bitcoin and Ethereum were not among the biggest losers, dropping 12.81% and 16.04% in the last 24 hours, respectively, but their market cap losses were in the billions, falling to $37.4 billion and $28.9 billion, respectively.

Ripple, a distant number three in market capitalization at just under $10 billion, lost over 12%. NEM, number four, lost over 17%, while Ethereum Classic, number five, lost 13.77%. Litecoin, number 6, suffered the least among thbillion-dollarar players, losing just over%. Eighth placed IOTA was the biggest loser among the cryptocurrencies with more than $1 billion in market capitalization, falling 36.5% when its price fell to $0.38.

Survivors A Few

All top 100 cryptocurrencies tumbled in the last 24 hours, according to, except for four: Quantum Resistant Ledger, the number 41 cryptocurrency with $81.4 million market capitalization, jumped 19.43%; LBRY Credits, number 57, posted an 18.24% gain; Xarum, number 62, gained 10,4%, and ZCoin, number 69, gained 9.58%. The correction that began Monday continued after a breather yesterday, as bitcoin failed to launch a new rally towards all-time highs and rolled over after the bounce. Correlations are high once again, as is usual for a correction, and it’s likely that bitcoin and Ethereum will dictate the trend of the coming days, with small cap coins following the majors lower.

Further Losses Expected

Bitcoin continues to trade near its lows from Monday, and it will likely head for a test of the $2375 level, as it clears its overbought momentum readings. The rising long-term trendline is found near $2200, providing further strong support. The long-term picture remains bullish, but there is room for further correction after the strong rally since the end of March.

A 30%-50% correction, that has been the normal for bitcoin in the past, is a huge psychological burden that makes a panic sale likely, usually just before the bottom. Because of this, buyers are advised to wait for the correction and oversold readings, even for those planning to buy it at a higher price later on. Analyst Nicola Duke of Forex Analytix predicted hefty price corrections for both bitcoin and Ethereum in late May. Duke said bitcoin could experience a 46.5% price correction at $2,800 after witnessing a record $2,791.70 high in late May. After reaching $2,800, Duke predicted it would fall and reach as low as $1,470, marking a 46.5% drop from the late May price.

Duke expects the correction to be temporary, with the price recovering, and continue its upward movement through 2018. An analysis called the Fibonacci retracement examines the peaks through different periods of up and down movements to determine future asset prices. In “wave two,” in the fall of 2013, bitcoin bottomed out in January 2015 before rebounding for several months and then declining again. It rebounded again in January of 2015. Duke said bitcoin is now in a third wave.

Recovery Expected

Duke expects the fourth wave will see bitcoin stay at 61.8% of the time the second wave lasted. This means the rally following the correction will begin in January. Short-term traders are advised to wait until the correction runs its course and the short-term trend turns higher again, while long-term investors should prepare to add to their holdings heading towards the targets of the move, and buying opportunities emerge. This holds true for long-term investors who plan on holding on to the coins and adding to their core holdings on the dips. Short-term traders should still wait for the short-term trend to turn higher before buying.

Chuck Reynolds

Marketing Dept

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Thomas Prendergast