Ethereum 20 and the Merge: What You Need to Know About the Transition

Ethereum 2.0 and the Merge: What You Need to Know About the Transition.

The Ethereum Merge has been one of the hottest topics in the cryptocurrency community lately. In this article, you will get to know about it and when Ethereum 2.0 will appear. Ethereum, the most popular altcoin and second most traded cryptocurrency, is planning a major software update that could affect your crypto investments.

After years of being the #1 smart contract blockchain, Ethereum is transitioning to a less energy-intensive technology. You may have heard of the planned update for Ethereum 2.0 or Eth 2.0, but the Ethereum Foundation is now calling it the Ethereum merger.

The move is expected to reduce Ethereum's power consumption by 99% while reducing the net issuance of the asset. Many expect the issuance of ETH to be a net negative, earning it the nickname "ultrasound currency."

The following focuses on the details of the merger, some brief technical details, and a timeline, and debunks some of the most common misconceptions.

What is The Merge?

As mentioned above, "The Merge" describes Ethereum's transition from a proof-of-work consensus algorithm to a proof-of-stake algorithm.

Ethereum gives a precise definition of the term here:

"The Merge represents the joining of the existing execution layer of Ethereum (the mainnet we use today) with its new proof-of-stake consensus layer – the Beacon Chain."

 

Source: Ethereum.org

This is to handle the energy-intensive mining process while securing the network with staked ETH. The move aims to ensure greater security, sustainability, and scalability for the Ethereum network.

Let's dig deeper into the technical aspects for greater clarity and understanding.

Beacon Chain: ETH 2.0 Processing Engine

The Beacon Chain is the important feature of the Ethereum 2.0 architecture. It exists and operates in parallel as an independent blockchain of the Ethereum network. It does not process transactions on the main network but achieves consensus on its own. This is done by agreeing on active checkers and their account balances.

Unlike the Ethereum network, which still operates through proof-of-work, the signal chain is powered by a consensus algorithm. It was developed on December 1, 2020.

In short, the Beacon Chain has so far served as the de facto testnet for Ethereum 2.0, but all of this will change with the merger.

As shown in the diagram above, the merger represents the moment when two systems (Ethereum mainnet currently running on PoW and the beacon chain running on PoS) come together. This merge will replace the PoW consensus algorithm with Proof-of-Stake (PoS).

This holds up some substantial implications for the network, but the crucial considerations include:

  • No history will be lost
  • Funds are safe
  • No more mining of ETH

When Will the Merge Happen?

It's worth noting that Ethereum 2.0 has been in development for years, and the exact date of the "merger" always looks like something might happen in the not-too-distant future.

All of the delays ended on July 14, 2022, when a member of the Ethereum Foundation shared a timeline showing what came to be known as a "soft" timetable for the merger.

The Superphiz timeline shared on Twitter includes a specific client release date and the so-called The Merge date. Despite the date, Superphiz also stated that "this merger timeline is not final," The developer stressed that people should "consider it as a planning timeline, and keep an eye out for any official announcements. The call, titled "PoS Implementers' Conference Call" Document #91 – 2022-07-14" states that the "proposed" timeline for discussion is as follows:

  • Goerli/Prater client releases 27th or 28th of July.
  • Announce 28th/29th.
  • Prater Bellatrix on the 8th of August
  • Goerli Merge on the 11th.
  • ACD 18th August plan mainnet Merge:
  • Bellatrix early September;
  • Merge two weeks later (week of Sept 19th).

As shown above, the merger is scheduled to take place on September 19, 2022, barring unforeseen events, including "the Goerli merger won't blow up." That date is not set in stone, though; delays may occur if complications arise.

Get Ready for The Merge?

This is one of the most significant events in the entire history of the cryptocurrency industry, so many bad actors will likely try to take advantage of it and scam innocent people.

Hence, it is essential to know that ETH users and holders do not need to do anything with their funds or wallets before merging.

The entire history of Ethereum – dating back to its creation, will remain unchanged and intact after the transition to PoS. Even after the merger, all funds in the wallet will still be accessible, and there is no need to upgrade on behalf of users and holders. 

Moreover, as part of the preparation for regular traders, it’s imperative to know that you are not expected to take any action for the upgrade. Beware of scammers who would want to rip you off your coins.

Ethereum Network After the Merge

One of the major promises of Ethereum 2.0 is that of scalability, and Vitalik Buterin claimed that the network would be able to process 100,000 transactions per second. However, The Merge is just the first stage of five from the protocol’s incoming development. These phases will see ETH 2.0 evolve into a full-fledged platform capable of handling millions of daily users.

It means there will be many more potential uses for the cryptocurrency than just smart contracts, like an app store or even gambling sites. If the Ethereum developers want ETH 2.0 to become one of the significant blockchains used worldwide, they need to ensure that the tech is scalable enough to handle all the projects on their roadmap.

The five developmental stages are as follows:

The Merge
This is the proof-of-work to proof-of-stake conversion discussed hereafter, merging Ethereum's current mainnet with the beacon chain.

The Surge
At this stage, this is what sharding brings to the protocol. A scaling solution divides the network into separate partitions called "shards" to spread workloads across the main network.

The Verge
This phase refers to the introduction of the so-called "Verkle tree." It includes an upgrade to Merkle Proofs designed to optimize data storage for Ethereum nodes.

The Purge 
Also, this upgrade affects validator data storage and reduces the disk space required by validators, optimizing network congestion.

The Splurge
This is the last upgrade in the pipeline and is intended to provide various progress updates to ensure the network's overall smooth operation.

Misconceptions About the ETH 2.0

As with all highly anticipated major events, the cryptocurrency community has had many common misconceptions floating around for some time now. Below are five of the most common.

It needs to stake 32 ETH to run a node
There are two kinds of nodes on the Ethereum network – the ones that can propose blocks and those that cannot. Those not required to commit ETH do not propose blocks, but they are also an integral part of network security, as they hold all block proposers accountable.

Gas fees will be reduced after the merger
The merger will change the general consensus algorithm and will not increase network capacity – and, therefore, will not result in lower gas tariffs. However, scaling solutions are being developed to do this, most of which are layer 2.

Transaction speed will be greatly improved
Transaction speeds on the merged mainnet will remain relatively unchanged, albeit with some minor changes.

Consolidation will cause downtime for the entire network
Merge upgrades are designed to avoid downtime. The network should always behave as expected except for minor issues, which are usual with software installation.

All staked ETH will be withdrawn after the transition
Validators leaving the network are rate limited. This is for security reasons. There is a limit to allow withdrawals of around 43,200 ETH per day. As of this writing, more than 13 million ETH has been staked in ETH 2.0.

Summary 

All in all, The Merge is undoubtedly one of the most important moments in the history of cryptocurrencies, as one of the greatest protocols is about to undergo a huge change. Now that the timetable is in place, all of this has been tightened considerably, albeit "softly." However, there are still many details we don't know yet, and no doubt they will be revealed in due course, so it's best not to get too excited or nervous yet.

 

 

 

About: Prince Chinwendu. (Nigeria) Rapid and sustainable human growth is my passion, and getting a life-changing opportunity into the hands of people is my calling. Empowering entrepreneurs provides me with enormous gratification. Find me at my Markethive Profile Page | My Twitter Account | and my LinkedIn Profile.

 

 

 

 

 

 

Tim Moseley

MARKETHIVE THRIVES – Announcements Forthcoming

MARKETHIVE THRIVES – Announcements Forthcoming

Markethive will soon make history with the impending wallet release and the cessation of the Entrepreneur One (E1) upgrade subscription to new members. The current E1s will continue as usual and receive one-tenth or 0.1 ILP every year when completing 12 consecutive monthly payments per year. 

Acquiring the ILP entitles you to 20% of Markethive’s net revenue per month. You are considered an early adopter and shareholder in the company, which is the first of its kind to integrate blockchain technology and cryptocurrency micropayments, thereby creating an ecosystem for the entrepreneur.  

In other words, Markethive is not just a social media site where people gather. It’s not just an inbound marketing or broadcasting platform where the marketer or creative pays for its services. Blockchain and cryptocurrency have enabled Markethive to offer its users many opportunities to create an income, the most lucrative being the ILP. 

By upgrading to Entrepreneur One, not only are you supporting and assisting in building the monolithic project of a Web 3 Social Market Media, you are essentially the venture capitalists. You are the organic element in Markethive, the Ecosystem for Entrepreneurs, and creating a legacy financially for yourself and your loved ones. 

As an incentive and because the Entrepreneur One upgrade will end soon, all who upgrade and maintain their monthly subscription for 12 months this year will receive a half or 0.5 ILP. 

The Premium Upgrade will also launch once the wallet is released, with many benefits for Markethive members. It increases your earning potential and allows you to monetize the initiatives Markethive has implemented. Click here to preview the features of the Premium Upgrade.

Watch this video of Thomas Prendergast, the CEO of Markethive, explaining in depth the benefits of the E1 upgrade and the opportunity of the ILP as he crunches the numbers. Markethive is a Divine Vision of our Lord, Jesus Christ, and Tom’s mission to bring it to ‘we the people” so that we may enjoy financial sovereignty, freedom of speech, liberty, and peace of mind in this uncertain world. 

The Entrepreneur One ILP special offer, features, and benefits are detailed in this article. The Entrepreneur One ILP Special 

About The Wallet

The Markethive Wallet, as detailed in this article, is now on the Solana Blockchain and is currently being BETA tested on the Markethive Development Site. The image below demonstrates a behind-the-scenes look at the blockchain working and transferring our token to a Solana wallet. The next step is to delegate a chosen BETA group of members who are Entrepreneur Ones to transact (send and receive) the coin via a Solana wallet. 

These people will promote Hivecoin (HVC) by asking their contacts to receive a chosen amount of coins, essentially sending the coin back and forth to people who accept your offer. These people can be users of Bitcoin Forum, Reddit, Telegram, or any site that you are affiliated with. The goal is to create transactional activity in the thousands.

It’s important to be active on the sites mentioned above, as the next step will be engaging five coin exchanges to list HVC on their platforms. The exchanges will do their due diligence and see that Markethive ranks very high in traffic, which will bode well for listing the coin, so it’s critical to have as much interest and activity as possible. 

Being listed on five coin exchanges is significant as it helps create stabilization and equilibrium, whereby a Moving Average or Mean can be calculated.  Moving averages are typically shown as a line on a chart, showing a mean of a previous set of periods. Because they are the mean (or average) of the data, they help to show the general trend and can then be used to map the direction of the coin visually. 

About Markethive’s Coin

The current Markethive Token (MHV) has a total supply of 8.8 billion and is only used internally. As we move forward, our cryptocurrency coin, HIVECOIN, will be the coin of Markethive that will be traded on the open market in crypto exchanges. The coin will replace the Markethive Token and have a total supply of 45 million. A much more realistic figure for the coin’s price action, supply, and demand.  

Phase one of the wallet is about to be released with a new vault and processor. The new hub will produce the new Markethive Credit, replacing the old Markethive Coin used internally. The Markethive Credit can be used to purchase the many services in Markethive and will also have a new staking advantage.

We are not staking the old Markethive Coin, as that is considered a violation of federal regulations that continue to evolve; however, there are ways around it. Our new Markethive Credit is not considered a Security as it can only be transacted one way. You can buy it within Markethive, but you can’t sell it on exchanges.   

You buy Markethive Credits to purchase services and for the purpose of staking, where you receive monthly interest on any given amount. There will also be significant incentives for all members to buy the new Markethive Credits. 

 

Wrap Up

Markethive has a fully operational inbound marketing system and social interface that is being uniquely enhanced with the new dashboard while simultaneously concentrating on the crypto side of things to get our coin up and running on the open market.  

So, it is almost “all systems go,” and you could help by supporting Markethive to expedite this humongous undertaking, not owned by the elite but by “we the people” so that every individual has a safe haven online. 

Make sure you upgrade to Entrepreneur One before the opportunity ends, and remember that you get a bonus of 0.5 ILP this year for the full 12 months. The Entrepreneur One opportunity for new members ends when the wallet is released.

Be sure to come to the meeting on Sunday at 10 am MST to hear the latest updates. You’ll find the link to the meeting room in the Markethive calendar. And stay tuned; the Markethive wallet is about to be announced. Praise the Lord! 

 

 

Editor and Chief Markethive: Deb Williams. (Australia) I thrive on progress and champion freedom of speech. I embrace "Change" with a passion, and my purpose in life is to enlighten people to accept and move forward with enthusiasm. Find me at my Markethive Profile Page | My Twitter Account | and my LinkedIn Profile.

 

 

 

 

 

 

Tim Moseley

Heavy price pressure on gold silver after strong US jobs data

Heavy price pressure on gold, silver after strong U.S. jobs data

Gold and silver prices are are solidly lower in early U.S. trading Friday, in the wake of a surprisingly strong U.S. employment report that may force the Federal Reserve to become even more aggressive in its monetary policy tightening. The U.S. dollar index and U.S. Treasury yields jumped on the jobs news, which in turn helped push gold and silver prices down. October gold futures were last down $21.70 at $1,774.70. September Comex silver futures were last down $0.507 at $19.615 an ounce.

This morning’s U.S. jobs report for July, showed a very strong rise of 528,000 in non-farm payrolls job growth. A gain of around 260,000 was expected. The June jobs report showed a rise of 372,000 non-farm jobs. The overall unemployment rate in July fell to 3.5% from 3.6% in June. After today’s strong jobs numbers, “the Fed’s dovish pivot is not going to happen,” said one market commentator on Bloomberg radio.

Global stock markets were flat to slightly up overnight. U.S. stock indexes are pointed toward lower openings when the New York day session beings, and sold off after the strong non-farm payrolls number.

The marketplace is still a little uneasy amid the escalation in tensions between the U.S. and China, the world’s two largest economies, after U.S. House Speaker Nancy Pelosi’s visit to Taiwan this week. China is conducting aggressive military exercises around Taiwan and also announced sanctions against Nancy Pelosi and her family. U.S. Secretary of State Blinken said China’s military exercises near Taiwan are a worrisome escalation.

The key outside markets today see Nymex crude oil prices near steady and trading around $88.50 a barrel. Crude oil on Thursday hit a 4.5-month low. The U.S. dollar index is sharply higher in early U.S. trading and made a big up-move after the jobs report. The yield on the 10-year U.S. Treasury note is fetching around 2.85%.

Other U.S. economic data due for release Friday includes the consumer credit report.

Technically, the October gold futures bears have the overall near-term technical advantage. However, a fledgling price uptrend is still in place on the daily bar chart to suggest a market bottom is in place. Bulls’ next upside price objective is to produce a close above solid resistance at $1,850.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at the July low of $1,686.30. First resistance is seen at this week’s high of $1,801.00 and then at $1,825.00. First support is seen at Thursday’s low of $1,769.50 and then at this week’s low of $1,759.70. Wyckoff's Market Rating: 3.0

September silver futures bears have the overall near-term technical advantage. However, recent price gains suggest a market bottom is in place. Silver bulls' next upside price objective is closing prices above solid technical resistance at $21.00. The next downside price objective for the bears is closing prices below solid support at $19.00. First resistance is seen at $20.00 and then at this week’s high of $20.51. Next support is seen at $19.40 and then at $19.00. Wyckoff's Market Rating: 3.0.

By Jim Wyckoff

For Kitco News

Time to buy Gold and Silver on the dips

 

Tim Moseley

Markethive’s Premium Platform Explained

Markethive’s Premium Platform Explained

Entrepreneur One To Be Phased Out – Premium Upgrade To be Phased In 

As Markethive moves forward, our Entrepreneur One Loyalty upgrade (the ultimate loyalty program for Markethive’s early adopters) will be phased out and unavailable to new members. However, this makes way for our next phase, the Premium Upgrade, which is in preparation for launch and will be released about the same time the Markethive wallet is integrated. 

Currently, the Entrepreneur One Upgrade (E1) is still available to new members. There will be a countdown ticker badge of 30 days placed on the Markethive home page for you to view, giving you ample notification of its cessation to new members. 

There is also a moratorium for canceled or lapsed E1 accounts, starting simultaneously with the countdown badge. This allows former Entrepreneur One members to resume their membership as though they never left. The months that lapsed will be compressed to show a continuation of a paid year to date. 

Once this 30-day period has ended, the wallet and Premium Upgrade will be released. We have a lot going on now; it’s thrilling that Markethive is coming out of BETA with this launch. The innovative visions and tireless work of the Founders’ are coming to fruition for all of us. 

Premium Upgrade Illustrated 

The Premium Upgrade will include everything stated below. This is the first and basic draft, so there might be a few additions and may be subject to change, but this is primarily the features.  

1. The first is the large wallet transfer/transactions. There's no limit for the Entrepreneur One member; however, the Premium Upgrade will be the second-largest wallet transfer. So the number of MHV coins you can transfer out with this wallet will be substantial. 

2.  You will enjoy a matching bonus when you refer new members, just like Entrepreneur One has a matching bonus. This consists of a 100% matching bonus on the first three that sign up with you, which is 50% more than a free member, and then 25% on each subsequent sign-up for the duration of your active membership.

For example, if the new sign-up airdrop is 100 MHV, you will get 25 coins for as long as you are active in the Premium Upgrade. 

3. You get the entire inbound marketing system. All the features and functions will be available, except for the email broadcasting system, which is limited. You can email your associates (sign-ups) and your group members, but not your friends you have accumulated on Markethive; that is only available to Entrepreneur One associates. 

4. You will have access to total data on the first 16 visitors. This includes their other social media accounts, phone number, and email address. This means you'll get access to the first 16 people who visit your Markethive profile and be able to see who they are. You can contact and reach out to them because they are obviously interested in you, as they came to see you.

5. Access to a friend’s “Friends List” gives you access to your friends’ list, similar to LinkedIn and Facebook.

6.  Automatic video and blog posts to the news feed. Coming very soon is the four different types of newsfeed that are four different types of feeds. As a Premium Upgrade, you will have access to the first three.

  1. First is the general newsfeed, similar to a Twitter/Facebook feed.
  2. The second is the blogging system, which will display your blogs in that feed. 
  3. The third is the video feed, where you can upload organic videos to the Markethive Video Channel and your videos from 3rd party video platforms. All the videos you upload will be shown in your video newsfeed. 
  4. The fourth newsfeed is the curation newsfeed limited to Entrepreneur One members only. 

7. Increased Limits On your Video Uploads. Notably, with YouTube, you need to be qualified to be able to upload unlimited videos. If you do not pass their qualifications, they limit the size of your video uploads. As an Apprentice Upgrade, there is no limit to the size, length, or number of videos you can upload.

8. 10% Discounts on Services, such as Press Releases, Banner Impressions rebate, Boost, Video Ads, etc. E1s get more discounts; however, free members must negotiate with either Entrepreneur One or Premium level and pay them to acquire any of these services or purchase them at full price from Markethive, the company.     

9. Upgrade activities interest (staking) on the Vault.  As a Premium Upgrade, you will receive an increase in micropayments for all your activities in Markethive. Plus, any Markethive Credits you hold in the Vault will be paid interest. 

10. KYC (Know Your Customer). All Premium level and Entrepreneur One associates will have a blue verification checkmark on their profile. So your KYC verification steps will be a lot easier to do as an upgrade than they would be if you were a free member.

11. Newsfeed Rich Text Formatting. You will be able to highlight with bold, italics, or underline in your newsfeeds as a Premium Upgrade. This makes your posts stand out a lot more. 

12. Fully Functioning Storefronts. It is also known as Groups but with the added advantage of monetizing it with capture pages, custom Splash pages, videos, co-ops, shopping carts, etc. You create a complete campaign with a capture page that lands on the splash page built into the group. Essentially, this is a Storefront where people can visit and buy your products listed via your shopping cart.

So you can essentially turn your group into a landing page that allows you to communicate with those in that storefront group, much like a forum. It really is an innovation that takes the whole thing and turns it into a turnkey Marketing System.

A free membership gets the group, but you’re getting a storefront when you upgrade to Premium or Entrepreneur One.

13. Group/Storefront posts in profile feed option.  So whenever you post in your group newsfeed, you have the opportunity to post into your profile feed automatically.

14. Full Video Channel System is a complete YouTube-like video system where followers, friends, and associates can subscribe to your channel. They can comment on your videos, and all the features on YouTube will also be in the myhive.tube video system. 

The other great thing about the entire video channel system is that as an Upgrade, the system will ask if you have accounts on other video platforms whenever you upload your video. (e.g., YouTube, Vimeo, Daily Motion, Facebook, Twitter) You'll be able to link to all of these 3rd party video platforms. 

So you upload your videos into Markethive, which will also upload your thumbnail to those videos and remotely publish out to all the other video accounts you may have so you get extensive video distribution.

It’s worth noting that when videos are posted on another platform, only a snippet of the video can be viewed. Users will be directed back to the Markethive platform to watch the whole video. This is a huge advantage considering YouTube’s predilection to censorship.

15. Full Conference Room Channel. All members will have access to Markethive’s free conference rooms; however, they will be limited according to your membership level. Free members will have two seats (you and a guest). Premium will have ten seats, and the Entrepreneur One Upgrade will have unlimited seats.  

Our conference room system is integrated into inbound marketing, calendars, and timers, making it a very sophisticated system.

16. Bookmark Newsfeed Management. If there are posts in the news feed that you like or want to remember, you will be able to bookmark them if you’re going to reference them again, creating easy access to them in the future. 

17. Self Deleting Posts (Set timer option) Like Snapchat, you will be able to send a message to someone or make a post, then set a timer for it to self-delete. This is an excellent option if you have a time-sensitive message or post. 

18. Send Messages to anyone in Markethive. (Limited to ? per month) The number of people you can message is still yet to be determined. However, as an upgrade, you will be able to message any member, no matter their level. You can send a message to them if you see their profile page or a post they did. 

Once this feature is in place, nobody else can send messages to anybody unless their first-level friends.

19. Markethive sub ROKU Channel. Markethive already has a Roku Channel, and we can build Roku sub-channels into it. What this means is, as a Premium or E1, you will be able to have your own sub-channel, which will be named, yourusername.markethive.  

So when you upload a video into Markethive, you can designate to upload it as well to your Roku sub-channel. 

Premium Platform Plan Proposal

So there you have it. This is an impressive menu of options for the Premium Upgrade, which can be paid in part using MHV along with BTC or credit/debit card. The subscription prices are not set in stone as yet; however, a mock-up of the various plan options proposal is pictured below. The MHV is based on the value of one penny in the image. However, the coin price will fluctuate when listed on the exchanges, so the amount of MHV will be adjusted accordingly. 

**Note that the Markethive coin (MHV) will be renamed to Hivecoin (HVC) once we list it on coin exchanges. The total coin supply will be drastically reduced, which will only benefit the coin's price. 

 

 

Markethive built this system to lift you up financially while giving you a mighty broadcasting Social Network. Our foundation is built upon the precept that freedom and liberty are very much at the forefront and our main product. Upgrading to Premium Level gives you additional leverage and greater power to broadcast your message while supporting our mission to lift up the entrepreneurial spirit found in all of us. 

 

Still Time To Secure Your Entrepreneur One Upgrade

And of course, there is still time to upgrade to the ultimate loyalty program, The Entrepreneur One, for US$100 per month, which includes a 1/10th ILP after 12 months of consecutive payments. Essentially you have shares in the company! This is a golden opportunity; think of the Web 2.0 social media platforms like Facebook et al., when they were looking for funding; they engaged affluent Venture Capitalists. The difference here is you are the VCs without needing the capital, and you will reap the rewards as Markethive becomes the next tech giant of Web 3.0. 

Finally…

Stay up to date with the progress by attending the Markethive meetings on Sundays at 10 am Mountain Time. Come with us as we make our way through the final stages of BETA, where the full potential of Markethive will be realized, creating more leverage, opportunities, and the ability for you to achieve your personal and professional goals. The link to the meeting room can be accessed in the Markethive calendar. 

 

 ecosystem for entrepreneurs
 

 

Editor and Chief Markethive: Deb Williams. (Australia) I thrive on progress and champion freedom of speech. I embrace "Change" with a passion, and my purpose in life is to enlighten people to accept and move forward with enthusiasm. Find me at my Markethive Profile Page | My Twitter Account | and my LinkedIn Profile.

 

 

 

 

Tim Moseley

WEBTALK :This is a social media site that pays you to do what you already do

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3. Influencers with large followings monetize your audiences on social media by injecting ads and promotions into your content. On Webtalk, you can do the same, only as your content gains engagement it also generates advertising revenue share with Webtalk’s ad rewards program. Get paid 2x as a Webtalk Influencer!

As your referrals use Webtalk for free, you earn a percentage of the ad revenue they help generate. You also earn a 10% commission whenever they make purchases, and this includes recurring purchases such as our PRO premium feature subscriptions that pay up to $48 per year per PRO customer referral.

 

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Tim Moseley

Gold silver see safe-haven and chart-based buying

Gold, silver see safe-haven and chart-based buying

Gold and silver prices are higher in midday U.S. trading Thursday, with gold sharply up and hitting a four-week high–now within easy striking distance of $1,800.00. Safe-haven demand is featured today as China-Taiwan-U.S. tensions have escalated this week. Short covering in the futures markets and some fresh chart-based buying are also featured today, as the near-term technical postures for both metals have improved this week. October gold futures were last up $29.80 at $1,796.00. September Comex silver futures were last up $0.226 at $20.12 an ounce.

The marketplace was a bit more nervous today after China fired several ballistic missiles around Taiwan, in apparent retaliation for U.S. House Speaker Nancy Pelosi’s visit to Taiwan on Tuesday. China is conducting aggressive military maneuvers around Taiwan.

The Bank of England’s monetary policy meeting conclusion Thursday saw the BOE raise its key interest rate by 0.5%, the largest since 1995. The BOE also warned of a long economic recession for the U.K. The dire economic outlook for the U.K. may also be prompting some safe-haven buying in gold and silver. Some are arguing the BOE is probably more on track on forecasting a longer recession, whereas the Federal Reserve does not like to look that far out—especially if the outlook is not rosy.

Geopolitical uncertainty has quietly supported gold prices, but now the volume has been turned up

The marketplace is looking ahead to Friday morning’s U.S. jobs report for July, which is expected to show non-farm payrolls job growth of around 260,000, compared to a rise of 372,000 in the June report.

The key outside markets today see Nymex crude oil prices lower, at a 4.5-month low and trading around $88.00 a barrel. The U.S. dollar index is lower in midday U.S. trading. The yield on the 10-year U.S. Treasury note is fetching around 2.7%.
 

Technically, October gold futures prices hit a four-week high today. The gold futures bears still have the overall near-term technical advantage. However, a fledgling price uptrend is still in place on the daily bar chart to suggest a market bottom is in place. Bulls have momentum and their next upside price objective is to produce a close above solid resistance at $1,850.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at $1,720.00. First resistance is seen at $1,800.00 and then at 1,825.00. First support is seen at $1,775.00 and then at today’s low of $1,769.50. Wyckoff's Market Rating: 4.0.

September silver futures bears have the overall near-term technical advantage. However, a price downtrend has been negated to suggest a market bottom is in place. Silver bulls' next upside price objective is closing prices above solid technical resistance at $21.50. The next downside price objective for the bears is closing prices below solid support at $19.00. First resistance is seen at this week’s high of $20.51 and then at $20.75. Next support is seen at this week’s low of $17.75 and then at $19.40. Wyckoff's Market Rating: 3.0.

September N.Y. copper closed up 145 points at 348.15 cents today. Prices closed nearer the session high today. The copper bears have the overall near-term technical advantage. However, a steep six-week-old price downtrend on the daily bar chart has been negated and prices are starting to trend up. Copper bulls' next upside price objective is pushing and closing prices above solid technical resistance at 385.00 cents. The next downside price objective for the bears is closing prices below solid technical support at the July low of 313.15 cents. First resistance is seen at this week’s high of 359.70 cents and then at 365.00 cents. First support is seen at today’s low of 341.60 cents and then at 335.00 cents. Wyckoff's Market Rating: 3.0.

By Jim Wyckoff

For Kitco News

Time to buy Gold and Silver on the dips

 

Tim Moseley

Gold silver pressured at mid-week by higher USDX bond yields lower oil

Gold, silver pressured at mid-week by higher USDX, bond yields, lower oil

Gold and silver prices are lower at midday Wednesday. Rising U.S. Treasury yields, a firmer U.S. dollar index and lower crude oil prices at mid-week are squelching buying interest in the precious metals. An up-tick in trader/investor risk appetite today is also bearish for the safe-haven metals. October gold futures were last down $14.50 at $1,765.30. September Comex silver futures were last down $0.234 at $19.905 an ounce.

Global stock markets were steady to weaker overnight. U.S. stock indexes are solidly higher at midday. Trader and investor anxiety has somewhat receded as U.S. House Speaker Nancy Pelosi visited Taiwan Tuesday evening without incident—at least not yet. China has vowed retaliation over her visit and plans on conducting a large-scale military exercise around Taiwan.

U.S. Treasury yields have up-ticked this week as U.S. Federal Reserve officials this week reiterated they plan to keep raising U.S. interest rates to choke off problematic price inflation. The yield on the 10-year U.S. Treasury note is fetching around 2.75%.

Sprott launches new ESG-focused gold ETF

The key outside markets today see Nymex crude oil prices solidly lower and trading around $91.50 a barrel. An OPEC-plus meeting Wednesday saw the group raise its collective production by only 100,000 barrels per day. The U.S. dollar index is higher at midday.

Technically, October gold futures bears have the overall near-term technical advantage. However, a fledgling price uptrend is still in place on the daily bar chart to suggest a market bottom is in place. Bulls’ next upside price objective is to produce a close above solid resistance at $1,800.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at $1,720.00. First resistance is seen at today’s high of $1,779.10 and then at this week’s high of $1,794.80. First support is seen at today’s low of $1,759.70 and then at $1,750.00. Wyckoff's Market Rating: 3.0.

September silver futures bears have the overall near-term technical advantage. However, a price downtrend has been negated to suggest a market bottom is in place. Silver bulls' next upside price objective is closing prices above solid technical resistance at $21.50. The next downside price objective for the bears is closing prices below solid support at $19.00. First resistance is seen at this week’s high of $20.51 and then at $20.75. Next support is seen at today’s low of $17.75 and then at $19.40. Wyckoff's Market Rating: 3.0.

September N.Y. copper closed down 550 points at 346.45 cents today. Prices closed nearer the session low today. The copper bears have the overall near-term technical advantage. However, a steep six-week-old price downtrend on the daily bar chart has been negated and prices are starting to trend up. Copper bulls' next upside price objective is pushing and closing prices above solid technical resistance at 385.00 cents. The next downside price objective for the bears is closing prices below solid technical support at the July low of 313.15 cents. First resistance is seen at this week’s high of 359.70 cents and then at 365.00 cents. First support is seen at today’s low of 344.65 cents and then at 335.00 cents. Wyckoff's Market Rating: 3.0.

By Jim Wyckoff

For Kitco News

Time to buy Gold and Silver on the dips

Tim Moseley

Web talk Wednesday webinar

Web talk Wednesday webinar

 
webtalk

This is again a recorded session Today you have with me andrew Pray are c founder and Chief Technology officer I'll let Andrew do a quick introduction on himself to you to kick off the the webinar today.

Sure Thanks, Rj.

So Rj said, I'm c founder and Cto of Web talk I've been working on Web talk for over five years now with Rj.

And it's been a fun experience A lot of my background is software for engineering lot a financial technology, building teams, establishing startups, selling startups.

It's been a good a good experience and I think Very helpful and fitting for what we need done here at laptop Thanks Rj.

Problem Thanks, Andrew.

So we have an exciting day plan today We brought up a lot of questions that have been coming through our beta dot web dot dot c survey site and also through our help desk.

So we're gonna answer a lot of those questions in this webinar We're also gonna go ahead and and ask each other questions so you guys can get to know us a little bit better.

And at the end of the presentation, we do have a surprise, a little bit of a sneak preview slash insight to something that we are building and have been building Even though there's a little bit information out there already, we're gonna provide a little bit more.

So I think the first thing that Would like to start with Andrew is, I would like you to to let her everybody know like, what is the best explanation to get people to join talk in your view? What is the best explanation? So when I talk to people in the way I see it, it's, you know, web talk is a… It's a social media movement, you know, really changing how social media is done So when someone can hear that, you know, I can do the same thing I'm doing on these other social platforms, but get rewarded for it.

Know, that's been very appealing with people and people see that and say, I wanna be a part of that And I think we will change the the social media industry entirely.

You know, I often liken it to to to credit cards, you know, the credit card industry Right for a long time, credit cards, didn't offer rewards.

You'd actually have to pay annual fees And this is… I'm talking about Us credit cards.

I'm not I'm not entirely familiar with other financial systems in other markets By the Us, the credit cards you'd pay annual fee, and you wouldn't get rewards, but then there was a a big shift to now credit cards rewards you.

As they realized customers are valuable And the customer knows that every time I swipe the card at a grocery store, whatever company that has my credit card, they get a percentage.

So I think the same thing will happen on the social media Like, slowly, there's gonna be a realization by the social media giants that the customer the user is more valuable than than they understand or the… Or that the Social media companies appreciate.

And that's one thing that Web talk is trying to do is show value by offering more rewards For using the social platform.

Love it Yeah.

webtalk
 

So yes Probably come back to me on the same question, since it is kind of a a generalized question, but you know, I definitely agree with Andrew on the value proposition and how to explain it to me, the simplest way is based on who you're talking to as well because we do have a lot of value propositions.

And if you're doing it for the potential for rewards to actually make money from the platform, the the simplest way to explain what i talk is you get paid to join to use and to promote the world's first all in one networking app So… And what is the super networking app? I guess would be the next question.

It's a consolidated platform And that's where the next key benefits come into play.

So if somebody wants a description of what Web talk does, and not what it is and what it offers, what it does is it consolidate your social networking usage you can toggle between your personal professional lives and relationships in our built in contact manager Also with your news fee because you can toggle between personal and professional communication.

So you can post to your personal professional and you can consume content from your personal professional networks And beyond that, you can actually dive in filter your feed by a specific contact group that you've labeled that nobody else can see.

So if you own a business or your professional and you wanna put your clients into one particular channel and you can see or prospective clients into a into a particular channel You can filter that channel to just those those connections.

And then you can see what they're talking about And engage with them to help establish and grow those relationships.

And that's the Palo of our platform It's not just for managing existing relationships but it's to help you manage and grow new relationships, new relationships that can help you personally and professionally.

Help you grow a business help you grow your career That's really the power of our platform is we want it to be the end all the Swiss Army knife for your relationship management for all things relationships.

One of our key features that we offer for free for all users is social s that doesn't require you to have a lot of connections yet because so social s is simply you make a poster web talk and you can send a copy of it to your other social platforms to save you time from s and duplicating that content To multiple platforms.

We do it for you and it's for free There are paid services out there where you can pay to do that.

But that is our our key function to provide, you know a valuable service right away as we grow the community to all of our users We have several more of those features in the works as well as new tools like groups and groups on demand.

That are in development, that also help provide daily engagement and daily value for maintaining communication with a type group of of users So we do have a lot in store, but the long story short is depends on who you're talking to is the best explanation.

You have the explanation of, yeah, you can get paid to join use and promote the world's first all in one you know, super networking out And and that's really kind of the way to bring in people want the opportunity to make money from it.

But if they're actually wanting to use it for a value add purpose, it's the only platform that offers segregation consolidation of all relationship types that you can see manage relationships and the only platform that offers free s all the top social networks So we do have a lot of big value add services with many more to come.

I would also… Oh, I'm sorry Are you done Rj? Yeah.

I'm done I was better.

Next question So I I would also or ask ask our users, you know, what has been what it's been effective for you, Like as you talk about what talk to others.

What are the points of day like the best and gets them to join So they can respond to beta dot web talk dot.

Is that where that's correct And right now, too, if you've got questions for this particular webinar, we are gonna bring some people on stage today.

So that be a special treat So ask your questions in the chat and, you know, raise your hand with those questions when you want to speak.

So if you want to ask them live, then that'll let us know And when we're done going back and forth with answering some of these questions i've already come in, we'll go to the audience and look to see what questions we have and bring you on stage.

So if you have those questions, go ahead to put him in chat Alright.

So looking at the questions, we do have next one This one will be for you Andrew.

When will Web talk exit beta? That's a good question So I think I think, probably with this user or the the person that's a submitted of this question.

They're thinking about something differently than I'm thinking Like, they're probably thinking when will you start mass advertising or, you know, promoting web talk more so than we have been, which is a question on this list that I'll I'll let Rj speak to.

But just from an internal technology perspective as to what beta is You know, beta has to lot to do it expectations and level of support.

right now, we have a certain level of support that we're that we're offering You know, so when users contact our help desks or have issues, you know, there's only a capacity of support that we can provide in a timely manner.

Right? And also expectations as we deliver products Right? We deliver products and features to the public knowing that our public our beta users, you know, that they help us that they're on this journey with us.

So when we deliver something, we have a set team that can test it from from various angles, but we can't test it from every angle because our team isn't that back So we ask our beta use to help with that and then they provide feedback to ensure we when we do launch, we have a quality product and a quality experience.

So what all that boils down to from a tech perspective, not an advertising perspective is we exit beta when we have sufficient team signs and support to do so And ultimately, that comes down to revenue and funding.

So by you, going pro by you, referring others to our system by our advertising growing and such, that beta label removing that gets expedite expedited because we have more funds to grow the team And to support and put in automated processes.

And I'd like to add to that as well For my from the business perspective, not just the technology perspective.

To come out of beta also requires specific Kpi indicators that show what we have is du that is working well at a small scale at a very large scale, which includes daily engagement and it's content creation and quality of content that includes, you know, revenue and distribution of commissions So what we've done here with Web talk has never been done before Not only has nobody built a super app.

Like we built nobody has decided they're gonna pay up to sixty percent of that revenue back to users across a global scale So moving money globally is extremely difficult and costly and it is a very hard pass to accomplish.

And we've we've been working at for years to develop it and perfect it, and make sure that the, you know, it it adhere to all regulations around the world to make sure that that Ky know your customer laws or implemented tax integrations are made So all these things have to be, built and tested and optimized for different markets, different use cases.

There's a lot that goes into making sure the process of our platform is optimized for mass scale So you don't wanna put you know, millions of millions and millions of users into a system that isn't fully optimized.

And based on you know, when you bootstrap a company, you can only work on one thing at a time Now if we took a substantial amount of funding or some alternatives like cloud funding, we could, you know, obviously add more resources which get x i development and get things done faster.

Up until today, that hasn't been the case We've had to do one thing at a time and test and optimize each one of those things as we launch them.

Due to the budget and the scale of the project So we're almost to the end of of my the road map and the vision that I had.

I know Andrew's gonna his own road map and team's got their own and what those things are, but we're very, very close to where we wanna be And I think some of the things that we have planned over the coming weeks could really help kick that the acceleration to a launch campaign.

If I may interject as a personal side note from from Rj, our deal will talk a lot about automation and making sure we have support because in a past venture that Rj was a part of his company blew up pretty quickly And I don't… Yeah.

And I think you working twenty four hours just trying to get these paper checks out to people when if you had automated, would have saved yourself a lot of sleepless nights So this is always keen on our mind.

Absolutely Yeah.

webtalk
 

I mean, there is a thing called growing yourself broke So you grow too fast and your expenses if you don't have enough revenue to offset it.

Your expenses can put you under And that's one of the things too that we wanna make sure that we're we're doing correctly is that we're not bringing in users too quickly because either a need the financial support from from investors or crowdfunding or from revenue to support that growth.

Because it is expensive So we wanna make sure that that is a key element.

Also more users means more demand and support and you know better quality support That's not reason why you know, we wanna make sure that when we come out of beta, we're fully supporting every user in the platform, the best that we can.

And we know during during beta researchers are limited to do that So we try to do our best right now to support you and that's for these webinars come into play to help answer a lot of questions.

Let you know it's coming and do it kind of in a group session Alright.

So I'm gonna go on to the next question There's five questions for each of us and we're on question two for rj j and three for me.

So the question for Rj do we plan to do massive advertising campaigning is the question? Absolutely So advertising is is a big component to creating exponential growth.

So how a platform like our rewards platform works is it really depends on our our users our members and spreading the word about Web talk And getting paid to do that as promotion to help us grow our community.

But in order to help expedite that, once the system is ready for mass scale, we'll invest into a large scale advertising platform and then our users can use that content and that advertising that's generated from that campaign to help go more viral share that content through social media, through mail, text message, However, you wanna share the content And there be different channels of content from everything from rewards side of things to new product offerings, product updates, you know, feature benefits.

So we'll cover the gamut when we do the advertising platform or advertising campaign Yes.

So leading to your third question, Andrew, can we reduce the minimum payout to fifty dollars or less? And can web talk reduce for international users This a common question.

I think we've seen this a few times in the past couple of years So a couple of things I think about when I think about this question.

For one, it's important to understand that our margins are less are lower than other social networks because we do share our revenue So this minimum payout does give us somewhat of a buffer.

To ensure that, you know, for example, bot activity, we saw in the past year, we had a a substantial amount of bot activity Right? And the minimum payout helps us to catch bot activity and soon or before that bot reaches a hundred dollars, so it protects us From having to dish out to people that are to robots that should not be getting paid out.

So that there's a buffer there there's other buffers that that are helpful to us Now we have thought about ways in which we can reduce that minimum payout.

For those that are non bots, You know, some examples that come to mind adding a variable, maybe how long you've been a member of web doc you know, if you've been a member for I've talk for years, and you've helped us grow, you know, let's let's try to get you what you've what you've earned thus far Also using whatever balance you have for, you know, pro packages or pro purchases or in the future, we you know, we may have offer your opportunities to buy things on web talk.

Things like that lot how long i'm bad I think that's that's definitely feasible.

Ultimately, I think I think you, our main goal for you as a user is that everyone reaches that minimum easily I think as we grow the platform, I think I don't think the only problem.

For international users in any market You know, that's the size of scale of web talk expands to to to be what we all think it can be.

I think a hundred dollar minimum will be easily achievable for anyone that, you know, is is invested in putting forth any type of effort into the social media platform Awesome.

Yeah So just to chime into that, you know, we are looking into ways to reduce it to, you know, to simplify what Andrew said.

And there's multiple ways that that could be done So internally, we're trying to figure out the best way to do that with the lowest amount of risk to the business for fraud and other potential issues.

So we want to do our best to make sure that everybody is earning rewards and can collect them, you know, as they're earned, but we also wanna make sure the company can sustain whatever we do that it doesn't harm the company So, you know, once we have a more definitive answer there, we'll come back and let you guys know when a future webinar.

For you r Can one member be a part of multiple groups? Yes.

So right now currently, you could be a part of multiple groups in different network, so you can add somebody to a personal network and group and a single professional network group based on how our social Crm works, the contact manager works, it keeps a finite amount of options so you can keep people back to the best of your ability And how if you wanna add additional groups or i.

E Subgroups, you do that through the use of tags.

So if somebody is also part of a different group, you add them with tags, you and you enter those tags for that individual, And then anybody who is also part of that subgroup you add those tags So you can then start to build the subgroups within your contact manager using tags.

But there will be more sophisticated options with our groups on demand platform So group groups on demand is an early development right now, but how to work is you'll be able to go through your contact manager and say create group.

And once you create group, it'll give you a checkbox for anybody in your contact manager, and you can do a simple search like you would for any contacts, and then start selecting contacts from your narrowed search to add to this new group And you'll be able to give it the group a title and that title could be a subject name.

webtalk
 

It could be an event name, it could be whatever you want It could be.

Birthday party or sales event or whatever it is, and you can select a random group of contacts to add to this group And then you could choose that this group is going to be a public group or a private group and you can also choose if this group is a personal group or a professional group And by doing this, it'll add everybody to the group with a title, and it'll actually based on the activity of that role have a hierarchy of keeping it up at the top of the chat based on that activity to that group.

That's why we call groups on a man, because you can create these groups on the fly, by just checklist whoever you want in that group and that group will in your chat in in your chat groups Once we deploy it.

So it won't never go away unless you, you know, remove yourself from that group And we'll cancel out the group for everybody if if you no longer want the group open.

So these will be alternative solutions for creating groups of individuals for communication purposes As far as your contact manager is concerned, you simply use tags and these tags will help filter your contacts by those tags.

I think that there was also a question within the chat So right on time, that question.

Okay Oh, yeah.

So wait I think let me look Your next question is, can Web talk add a feature to help users know who invited someone for platinum members.

Yeah So this one make understanding, understanding what that means Right? So I think what this person is trying to say is, they're referring to their own referral.

They're not referring to people outside their referral network Can I see in my referral network who who was how did it get there, You know, who invited them to get there? I think that's achievable rj agree.

We can show some sort of indicators somewhere because as you're looking at your referral network, you know, you click on your different levels to see those contacts We should be able to filter that by a person.

Alright Well, the other big thing too… And I think it's definitely achievable, but one thing to think about here Andrea is rewards plus.

And I'll also let people know that any features that are premium features that are tied to the rewards platform form that are currently in the pro platinum subscription Will be removed from pro platinum and put into the new rewards plus subscription.

And the reason being is we're making those two subscriptions completely unique from each other We want the premium feature backers in Web talk to help enhance the networking experience.

So removing ads from your networking experience being able to send messages to non connections to search members, to post the members So we want all the the premium features in Web talk to be just talk premium features.

And premium features for rewards to remain within rewards So we are gonna have that segmentation and that's coming with the rewards plus transcription.

So I think this might actually be a good add on feature for the rewards plus subscription What do you think? Yeah.

I think we could do that K.

And like like, Rj said, you know, part of our part of our desire is kind of the keep the social network here and the rewards that kinda powers it Right? Because we don't want to dilute the or or… We still want you to have the social experience for maybe Rj you can explain it better.

Yeah So in order for people to understand what each product and service offering is, we wanna make sure that they're unique in their own entities.

Web talk being the all in one super networking app and Web talk rewards being the platform where you get paid to use and promote web talk Right? So, you know, it's kinda like the monetization platforms for Google.

Google search engine also has Google Adwords and Google ads sense attached to Google Even though, you know, it's all one company that is acquiring advertising.

They have different products that you can pay to run ads on Google, different google products, including Youtube and and Google itself and other Google platforms, but you can also get paid to drive traffic to Google And Google Adsense powers the monetization for Youtube, it powers the monetization for, you know, Google search.

So web talk rewards is equivalent to basically our adsense Right? We're we're sharing our ad revenue.

We're showing our subscription revenue with people who drive traffic and with content creators with influencers, with digital marketers with our everyday users So anybody who is helping to drive traffic to our platform is going be sharing in that revenue very similar to an affiliate who signs up for google adsense that drives traffic to Google or Youtube.

So we wanna make sure that these these entities are are unique and the feature sets associated with each of them are directly tied to those platforms So that's that's really our main goal here as we you know, get through the end of the beta.

So to answer the person's question Yes.

We it'll be available So we'll make it Alright.

Question number four for our day, two more ago You mentioned influencers.

Will they be joining and can we expect massive growth and therefore increased earnings? So absolutely Influencers will come obviously through two ways through company promotion and through individual promotion members.

Now the… It our members to bring in influencers because influencers are the largest generators of of advertising revenue through Youtube and other platforms that actually share revenue with with their content creators So if you individually refer an influencer.

And let's say that influencer right now is making a million dollars a month on Youtube and, you know, just kind of a a side note we are working on native video and it should be launching in the coming weeks So once we launch our native video platform, bringing a Youtube bar over to, you know, load their videos to us first and share them and build their audience or rebuild their audience and bring their audience over to web talk.

Well, if they do that underneath you and they're making a million dollars a month from our platform because you get matching points on what they earn, they're earning a essentially ten percent of the ad revenue that we generate, Well you'll actually earn the same So if they earn a million dollars a month, so you So it is very, very attractive for our users to reach out to influencers to bring them into the platform because they'll make money and so will you.

And those will be your biggest earners of rev share from advertising that you can have Now we are going to go out ourselves and recruit influencers for the official launch.

We want influencers to come in a platform, start loading up content, so we can prep populate content for suggested list of users to follow for Discover search So there's there's top quality influencer content discover search.

So all this is gonna happen before the official launch for will help try to help prep populate content by bringing in, you know, as many influencers we can at the beginning And we've seen some of this already.

Some of our micro influencers in international markets have really driven a lot of traffic Yeah.

Yeah that's… That when we see our biggest spikes is from youtubers, pushing our product Right you'll see a certain country.

Just spike and then, like, how did that happen? Let me just Google web talk in that country and you'll see Yep.

Videos Yeah.

webtalk
 

So we get a lot of that already People are already referring influencers into the platform.

And you know, when when this happens, you see quickly spikes and user growth and engagement and it's happening around the world So… Yeah, Andrew's right.

You know, this is already happening today It's already happening with users who see the opportunity to make money from from referring influencers in.

And it doesn't have to be big names celebrities So it could be micro influencers people on Instagram, you know, if tens of thousands or hundred thousands or maybe a million to three million followers those are all considered micro influencers.

So by bringing in these people, that have loyal and engage smaller audiences, you know, they add up too because they also no influencers So influencers no other influencers.

So once you actually bring in an influencer, if you want that ten percent rev share, through five degrees five levels of separation in the rewards platform, Well they know influencers, they own influencers nail influencers So it's kind of a chain reaction.

So it… It's really, really attractive that if you can bring those influencers in yourself right now by just messaging them on social media and say, hey, you know, here's a platform you get paid to join use promote You know, here's all the involved, check it out and send him to the reward site.

And I think it it'd be an easy sell Alright.

So your fourth question, Andrew is or no, fifth question Yeah.

Last one So this is the the personal question.

What do you love most about Web talk? So when I think about what I love most, I think about it kind of in two aspects Why it was personal, like, internal personal, you know, my cells.

And then one is how I view Web talk Right? What I love about that.

So internally, the personal aspect I really love the the spiritual journey That the unexpected, I would say spiritual journey that is web talk.

Prior to me joining Web talk I was agnostic for about my whole adult life.

And then I came to understand that God exists and the bible is true.

And about two months prior to joining Web talk, I was baptized So understanding, I say this because understanding that the faith component in my life understanding and believing that god is real.

You know, I believe they'll Let me let me give it to him.

Let's say, God, I want you to tell me what to do what to work on and how to work on it I put it all on your hands.

And it's been quite a blessing to see all the miracles, all the things that he's done The the the change in my life the change I've seen in my employees life around me like, other people I associate with Talk, my family.

So just seeing that and just being it being unexpected I didn't expect some of the things to take place that I've taken place.

Really miraculous and too much to go into detail on this call But hopefully, at someday in the future we get share.

Some of these things, and it's so it's a continuing journey So.

There it seems like there's more to share soon So that's the personal aspect.

It's very faith based love for talk that I have The the more externally facing and how i view web talk.

It's it has to do it with the users Right? I like I really love seeing the users on our site.

And what they come up with or what they're saying, you know, some of them, I I watch their videos and some of them, you know, they explain Web talk to me Alright.

I have an idea of what talk… What what talk is, what it be But then I hear what they say.

I'm like, you know what? What they say is better than when I They understand what we're building, but than I do And I find that really cool.

Also, the users that have that have promoted us and are on that cusp, you know, they're like, right there As soon as we go big know, the reward for them is just massive.

I I see, you know, tens of thousands of dollars, you know, more than that and some of these users pending sign bonuses I I watch the pending sign bonus because I… I'm I'm keen to see that come fruition.

And I think as we hit these certain milestones of growth when those start getting paid out, I'll be so excited for all these users and that that really entries me and I loved I love that So that's I would respond to that question.

And then I'll i'll throw the question back to you archie What do you love most of about Web talk.

It's probably Hardest question to answer.

Because there is there's a lot to love For me, when I initially came up with the concept it's completely morph.

You know, into something amazing And, you know, I always had the general principle of you, I wanna get back to the user for me, the problems that I saw that I thought we were solving early on was you know, social media, really harvest your data doesn't give you any access to it, monetize it doesn't give you any of the money they make from it.

And then on top of that, they try to tell you what you can and can't do with your own personal beliefs towards religion and politics And I think that by closing all this off and not giving you access to your social capital, not giving you access to your networks data.

Not give you ways to filter through communication You miss a lot.

Like, you get fed a bunch of ads and very little content that's important So I thought, you know, if we could just provide a tool for better management of contacts and communication that could help people actually truly manage relationships to stay in touch not miss anything, streamline that communication.

And and then the strength of relationships that people can build and maintain would be much grander than anything out in the market And then by sharing our revenue, we could really do something impactful.

We can really change lives But for me, it wasn't until that, you know, we came up with the five level bonus to to really changed the lives of the everyday person because a standard program for affiliates sharing revenue is only valuable to major influencers and and celebrities and major digital marketers that can bring a lot of people by offering the five level bonus it allows anybody to make a substantial amount of income for just referring a few people that refer a few people that refer a few people.

So that the power of the duplication to me and the way we structure this, I think is very, very exciting because I think we'll see so many tremendous success stories come out of every aspect of the business And that doesn't even include the fact that we're giving ten percent of our process to charity.

So So for me, it's the end goal Like, how many success stories can we create? People that use our platform to grow a business.

Use our platform form to find a job, use our platform to find their potential next spouse Used our platform to create a, you know, a successful business just by promoting it or by, you know, becoming a content creator.

Like, how new success stories can we create across the board and how much can we help advance the global economy by helping to validate data, which is the next big step for us And I'm excited about that next step because that's a big thing for me.

If you go into Linkedin, and you're hiring and recruiting and looking for vendors and partners, you have no idea if the the the data on these virtual resumes is valid So by us going into the next step in validating identification and resumes, offering that as a service for essentially due diligence on a man, but any person in the world can come to a database of people and see that they're real people with real education and real job history that's been verified.

I think will help expedite transactions to the nth degree gives small business a real fighting chance against big business who pushes, you know, pushes them out because they have big recruiting budgets And I really do think that that next layer that next level for us will change the world on a really dramatic basis So like I said, there's there's a lot to love.

And this is just the external The internal for me is the amazing team that we have.

Everybody is very faith based, very family oriented, very vision oriented They see the the big vision.

They know it's a really big vision and they're, you know, willing to work hard to achieve it So we've grown a big family over over several years of of building talk.

And you know, then I couldn't ask for anything better So I think with that being said, we do have a couple of questions.

I'd like to bring on live to answer So let me go ahead and bring in Michael and a tool Say you guys are coming in live now and let me see if I can learn how to use this system to bring to bring you guys online to answer her to ask those questions live.

Alright Tool you were up first.

How's it going a tool? I'm doing great What about to you? I'm doing great.

So I see in the chat it would be great if we can use balance upgrade as it takes one month to get it to the get it to the bank in case not being able to upgrade people lose fifty percent off That is for two or three years.

So if I'm getting your question right, you're looking to be able to use your rewards balance the money that you've earned in your rewards account to pay for any premium feature packages Is that correct? Yes.

I'm thinking about that in case if there is not enough balance in our reward that, we can add extra money from our back So we can use that well to upgrade our premium feature Alright.

So, yes That is… Actually already in the works with our credits platform.

So we have been in development of a credit platform and that credit platform will allow you to use your talk reward to purchase credits And then those credits can be used to buy anything within web talk, and you'll also be able to gift credits to other users.

Okay That's great.

Alright Hopefully question questions.

It was a good question Yeah.

Thank you for asking Thanks that's all.

Thank you Alright.

So I'm gonna bring on next Michael I go.

Good afternoon, Michael Are you there? Can you hear me? I can hear you.

Okay I.

I think i I had one question about custom groups, but I think you've already more or less answered that I'd like to be able to add different members to one custom group.

Sorry for this That one custom group, more multiple members can be members of one custom group.

Yeah So as I mentioned earlier, that was out that came into the help desk is a a top question.

So that is coming the groups on demand once we launch that So stay tuned.

We all working on it We wanna make sure it's done right, but I think it's you're gonna love what we have in the works.

Yes I have one additional question.

And you mentioned before that rewards was going to be a separate entity Does that mean that the five level bonus stays with the rewards package are how does that stay with the platinum and professional package? So the the five level a bonus because it's it's sales based.

It, you know, will stay with any package So it doesn't matter what package it is.

That is strictly sales based So with five level bonus, you for anybody who's new and watching this new.

The five little bonus kicks in, as soon as either a, you refer a new member who upgrades to a premium service package or being you purchase it yourself and that counts as your one sale qualifier fire So you have those options.

Currently, we have two subscriptions inside of Web talk pro or platinum, We are planning to release a new one called rewards plus which will be within the rewards platform Now all three of these subscriptions will qualify for the five level bonus because it they are all technically a sale that is being tracked by Web talk rewards.

Yeah Cool.

Cool Francois.

Hey, Michael Where are you calling from? That's Germany.

Oh, Germany Welcome.

What's city? You say I'm near just off I think that's the most And easy to.

I don't know how Many you know in Germany Not a lot.

Just just what I can Google Okay.

I think your google just up That's the nearest one.

I live in a little town called elm, which is cl very close to the dutch border So I'm basically near… I mean, Germany and Holland and Belgium.

So the best of all was… Oh great Welcome.

So do you know where Wolf hawk is? That sounds like down south Southwest.

Yeah Yeah.

And Actually stayed a week there in a cabin of my family friend Oh, cool.

Fears years back But… Yeah.

It's cool Way more in the in the industrial side of Germany.

So and and West Germany So… Okay.

Alright Well, thank you for coming on.

And breaks my Here's support.

Appreciate it Supposed to suggest with tours from as well We forgot to mention that.

He's the one Yeah.

He is Me go ahead.

He's muted right now Alright.

Hello Hello.

Tool Are you there? Yeah.

Okay Perfect.

So where are you calling from? I'm from india I'm on laptop for last two years Awesome.

Well, thank you very much We appreciate it.

Yeah So about afternoon fourteen years.

Awesome Even more appreciate it's.

Thank you for your support Yeah.

So we'd love to having everybody in here as our customers users, everybody that's been very supportive during the beta So thank you all for your questions.

Now with the last thing, on the agenda for today is talking about what's in store So one of the things that I do wanna discuss It is early.

It's preliminary There already as little bit of information out there about it.

But we've been working on the infrastructure for launching our own cryptocurrency called web clean And web coin will have a lot of unique benefits that we won't disclose yet.

But if you go to products dot web dot c, you'll see a little bit of a tutorial on websocket coin with our product map But we decided to move it up the rankings and potentially attach it to our crowdfunding campaign that is in the works right now So it's really exciting.

We've got some really cool things that we wanna do with the coin Obviously, it would be utility coin that you could use to purchase advertising some transcriptions, products in our marketplace.

You could use it to in our talent marketplace when launch that You'll be able to, you know, buy and sell services by the hour or by the job.

So full use of the the currency will be available Even by our swag our our gear with with our coin.

So… And That's the next big things We're also working on the the Swag store.

And this has been something that's been a bit of an issue for the last eighteen months to find a a solid vendor that could really do three key things for us One, give us on demand printing to provide high quality on demand printing and three integrate with our system to be able to award commissions for the purchases of our slack.

So if you invite somebody web talk and they buy a hat or a teacher shirt we wanna make sure that we're able to reward our our users and and rewards members with commissions for those So all three of those elements have been really, really difficult to find because they don't they really haven't gone together well.

Somebody could do the tech but had and could do on demand, but didn't have high quality items or had high quality items Could do on demand, but couldn't integrate with our tech.

So it's been a real challenge to find a good partner that can work with us because we're obviously not in the clothing business for the tech business So we want a good partner that can make sure that we're putting out a merchandise that people love they wanna wear every day.

And is high quality and at an affordable cost So I think we found that potential partner and stay tuned for more.

So we're working on that We've had a lot of partnerships come up in the last few months.

A new potential ad partner that we're testing out the Coo that's going for mobile ads The partnership with Ricardo ventures, we took an investment from them.

We've got a couple other technology partnerships that we've been developing So it's just there's a lot in the works right now.

And we're really excited for for what's to come So thank you all for for joining today again for the next spoke talk Wednesday webinar.

Make sure you go to beta dot web talk dot c And ask your questions there ahead of time so we can add them ready to go like we did today.

And there also is a survey on that site So if you can please complete survey.

There's questions about crowdfunding on there Those questions about features.

So there are Questions about what do you like what you don't like about Web talk, so you can help us improve our services So we are really counting on your support during this time to help us grow mature and develop web talk.

To what you want it to become We're building web talk for you.

So that's our main goal is to help you create more success So please let us know how we can help you do that, and we will work whatever way we can to make sure that happened So again thank you for watching.

Thank you for being here for all of you at attending live, and we will see you in a couple of weeks on the next web talk Wednesday webinar Take care, and have a great day or evening wherever you are in the world.

JOIN US: https://join.webtalk.co/6493098

Tim Moseley

Senate Bill Classifying Bitcoin As A Digital Commodity To Be Introduced Today: Report

Senate Bill Classifying Bitcoin As A Digital Commodity To Be Introduced Today: Report

by Shawn Amick 

 

The bill seeks to empower the CFTC to regulate bitcoin as a digital commodity while excluding securities from also falling under the same category.

  • A new bill classifying bitcoin as a digital commodity could be introduced today.
  • This move would empower the current watchdog of derivatives and future markets, the CFTC, to gain regulatory jurisdiction over bitcoin.
  • The bill seeks to expand on previous definitions in the bitcoin ecosystem while also excluding securities from being digital commodities.

Leaders of the Senate Agriculture Committee (SAC) are planning to introduce a bill that would classify bitcoin as a digital commodity, according to a report from the Wall Street Journal.

The category of digital commodity is fairly new. Currently the Commodity Futures Trading Commission (CFTC) oversees the regulation for derivatives of commodities, rather than the underlying commodity itself. This bill seeks to empower the CFTC to regulate spot markets for digital commodities which means the regulator would be given the ability to regulate the underlying asset itself.

The bill will also exclude securities from simultaneously being labeled a digital commodity. Therefore, any and all cryptocurrencies labeled as a security would fall under the jurisdiction of the Securities and Exchange Commission (SEC) rather than the CFTC.

In fact, the SEC has already made multiple appeals to cryptocurrency exchanges suggesting they register with the SEC as security exchanges. This action would place exchanges in the same category as other securities trading platforms like the New York Stock Exchange.

Additionally, the bill will reportedly seek to regulate and define brokers, dealers, custodians, and trading facilities. While semantic, these designations go a long way towards curtailing previous attempts at regulating the ecosystem which resulted in mistaken definitions that could have made operating in the space as a transaction validator or service provider extremely difficult – as seen in the previously introduced infrastructure bill.

However, this bill reportedly includes an exclusion for “a person” if said person’s involvement in the ecosystem is “solely because that person validates digital commodity transactions.” While this could be a boon for those not directly involved in the trading of bitcoin, there is still room for these definitions to get dicey.

Furthermore, Democratic SAC Chairwoman Debbie Stabenow and leading Republican John Boozman of Arkansas plan to introduce the bill today. CFTC Chairman Rostin Behnam, a former staff member for Stabenow, stated the regulator is “ready and well situated” to oversee spot markets related to digital commodities. 

 

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Tim Moseley

Foundry Digital Donates 1 BTC To Developer Working On Bitcoin Mining Pools

Foundry Digital Donates 1 BTC To Developer Working On Bitcoin Mining Pools

by Shawn Amick 

 

The developer will work on a sub-protocol of Stratum V2, a communications protocol meant to improve miner collaboration, increasing the global hash rate.

  • Foundry Digital has donated 1 BTC to a pseudonymous open-source developer – 4ss0.
  • The developer is working on Stratum V2, a communication protocol for miners and mining pools.
  • Specifically, the developer will improve the decentralization of block templates and strengthen censorship resistance on the protocol.

Foundry Digital, an institutional service provider for bitcoin mining, has donated 1 BTC to a pseudonymous developer in the bitcoin ecosystem by the name of 4ss0, who is working on Stratum V2, according to a press release.

Stratum V2 is an open-source communications protocol that allows miners, their proxies, and mining pools to better communicate with one another enabling larger contributions to the global hashrate of the Bitcoin network. The protocol seeks to provide higher levels of efficiency, security and decentralization to the proof-of-work consensus mechanism powering Bitcoin.

Stratum V2 changes the default messaging format from JavaScript Object Notation (JSON) to binary with an added encryption feature, thereby improving communication on the existing Stratum protocol. However, while this functionality is important, 4ss0 will actually be dedicating their time to the Job Negotiation Protocol (JNP).

JNP is a sub-protocol within Stratum that enables bitcoin miners to create their own block templates. These templates allow for streamlined cooperation by setting predefined attributes for participating miners while strengthening censorship resistance by decentralizing the creation of block templates.

"The Job Negotiator implementation will increase the decentralization of pool mining, enabling miners to mine their chosen transactions while preventing the censorship of transaction propagation by pools,” said 4ss0. “This will further allow people around the world to benefit from Bitcoin's borderless freedom."

In addition to Foundry’s donation, the company will offer 4ss0 access to bitcoin mining application specific integrated circuits (ASICs) and hash rate data provided by the Foundry USA Pool team for testing purposes.

"The bitcoin mining industry has evolved rapidly in the past two years, while the underlying protocol that coordinates the miner and the pool has stayed stagnant," said Jay Beddict, VP of research at Foundry. "Foundry views Stratum V2 as a major improvement to the current Stratum protocol and is aligned with our mission of empowering decentralized infrastructure.”

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Tim Moseley

The Artist that came out of the Winter