Steem Portugal https://steemportugal.com News about Steem and Cryptocurrencies Sat, 25 Jan 2020 00:50:21 +0000 en-GB hourly 1 https://wordpress.org/?v=5.3.2 https://steemportugal.com/wp-content/uploads/2019/02/cropped-logo-32x32.png Steem Portugal https://steemportugal.com 32 32 What is Steem: The Complete Steem Cryptocurrency Guide https://steemportugal.com/what-is-steem-the-complete-steem-cryptocurrency-guide/?utm_source=rss&utm_medium=rss&utm_campaign=what-is-steem-the-complete-steem-cryptocurrency-guide https://steemportugal.com/what-is-steem-the-complete-steem-cryptocurrency-guide/#respond Sat, 25 Jan 2020 00:50:12 +0000 https://steemportugal.com/?p=2494 The cryptocurrency market has grown tremendously during the last 2 years and currently stands at a market capitalization of $406 billion. As the market grew, many altcoins gained popularity — the Steem coin being one of them. But, what makes the Steem cryptocurrency so popular? In this guide, I’ll give you a complete overview of Steem […]

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The cryptocurrency market has grown tremendously during the last 2 years and currently stands at a market capitalization of $406 billion. As the market grew, many altcoins gained popularity — the Steem coin being one of them.

But, what makes the Steem cryptocurrency so popular? In this guide, I’ll give you a complete overview of Steem so that you can answer that question with confidence along with many others; regarding Steem, its purpose, its team, its history, and how well it is functioning.

I will be addressing Steemit, also — Steemit is a unique, Steem-based social media platform that is by far Steam’s most famous use case. In addition to that, I will cover the various cryptocurrencies associated with Steemit i.e. Steem coin, Steem Dollars, and Steem Power.

Like all good guides, we’ll begin with the basics.

So, let’s get started!

Steem Basics

Steem coin is the cryptocurrency of Steemit — a blockchain-based social media platform founded in 2014 by Dan Larimer (the CEO of BitShares).

You can consider Steemit as similar to Reddit, where users can create and publish their content online and get rewarded for it. However, there is one major difference.

Unlike any other social network, Steemit is based on the blockchain, which allows it to be run in a decentralized manner. This means there is no censorship, no central authority, no downtime, no data vulnerability, and no data abuseIt solves a seemingly-endless list of problems seen in centralized social platforms (i.e. Facebook, Twitter, etc.).

As well as the above unique advantages, it also rewards its users using cryptocurrency! So, rather than post to social media, while the central party (Facebook, Twitter, etc.) cash in on ad revenue, you can post to social media and be paid for it yourself.

The Steemit blockchain actually has three different cryptocurrencies on its blockchain!

Let’s try to understand the function of each one of them.

Steem

Steem coin is a fundamental cryptocurrency of the Steemit network, and the other two cryptocurrencies (Steem Dollars and Steem Power) are dependent on it.

Since Steem was released in 2016, the supply of Steem has automatically increased by 100% each year. This is what it’ll continue to do indefinitely.

In this aspect, Steem is different from other cryptocurrencies, as it doesn’t rely solely on mining to create new coins.

The Steemit network creates new Steem coins on an everyday basis.

  • 75% of the new coins are divided between the authors and curators
  • 15% of the coins are awarded to the holders of Steem Power
  • Only 10% of Steem block rewards are awarded to miners

Since more and more Steem is created every day, it is not recommended to hold it for long periods of time. It should instead be converted into Steem Dollars, Steem Power or some other cryptocurrency like Bitcoin or Litecoin.

Please note that the Steem crypto coin (Steem), like Bitcoin or Ether, can be bought and sold in the open market. So, you can either earn Steem through the Steemit platform, or you can buy it on an exchange like Poloniex or Binance.

What is Steem token

Steem Dollars (SBD)

Steem Dollars, another cryptocurrency of the Steem blockchain, can be considered to be a more stable one. It is intended to be valued 1:1 with the US dollar, which means that 1 SBD should be equal to the amount of Steem that can be bought with 1 USD.

It held the $1 value rather well until around November 2017 when it rocketed in price to around $13 by the end of 2017. It has since corrected itself, though, and is currently floating around the $2 mark.

As Steem Dollars are intended to be stable, 50% of the payment to creators and curators on Steemit is processed in SBD to protect them against the fluctuations of the Steem cryptocurrency. Steem Dollars can also be traded on several exchanges and it has a current market capitalization of $0.37 billion.

You can cash out your SBD by converting it to Steem or Bitcoin, and then converting it to fiat currency. You can also exchange SBD for Steem Power, another Steem currency which I will cover next.

Top tip: A key benefit to Steem Dollars is that, by holding them, you earn a 10% annual interest.

Steem Power (SP)

Steem Power (SP), the third crypto on the Steemit network, is a token that symbolizes how much of an influence you have on the Steemit platform. The more SP you have, the power you have.

So, holding Steemit Power gives weight to your voting in a 1:1 ratio. For example, if a post receives a vote from a user who holds 200 SP then it is 20 times more influential than a vote from someone who holds 10 SP.

It is a very important aspect of the Steemit platform because compensation is directly related to it. A post or comment will receive more compensation when upvoted by some with more power (SPs).

As a matter of fact, you cannot vote at all if you don’t have any Steem Power. Here are a few other interesting aspects about SP:

  • Steem Power is considered a long-term investment. In fact, you can’t actually sell it until you’ve been holding it for at least 13 weeks.
  • 50% of payments sent to contributors are made in SP.
  • Unlike the other two cryptocurrencies on Steemit, SP cannot be traded on exchanges.
  • You can “power up” by increasing your SP holding or “power down” by cashing it out (exchanging it for Steem coin).

Well, that’s it for Steem crypto — those are the 3 cryptocurrencies on the Steemit network! Now, let’s move on to see how Steemit, the social-media platform, actually works.

Steemit Community and Curation

Steemit is trying to change how social media platforms work. Unlike platforms like Facebook where users are not compensated financially for the content they create, Steemit rewards the platform’s contributors/creators’ directly with its Steem coin.

In addition to creators, curators are also a very important part of the Steemit community. Users who upvote and help evaluate the quality of content are called “curators” on Steemit.

In fact, curators are also rewarded on Steemit as they help in maintaining the quality of the content! Pretty neat, right?

That’s what Steemit and decentralization are all about — the power is in the community’s hands.

Like Reddit, Steemit relies on its community to self-enforce the guidelines for user behavior. As of now, the guidelines are not as mature as that of Reddit, but they are a work in progress. They are ongoingly developing a community moderation guide called Steemetiquette.

A few important points that are emphasized by Steemetiquette are:

  • Citing sources and giving credit is encouraged.
  • There is a lot of emphasis on rewarding the original creator so original content is preferred when it comes to giving out rewards.
  • Avoid rewarding undesirable and spammy content.

The idea is to create a genuinely decentralized platform where users themselves decide which content is valuable, how good behavior should be incentivized, and how to create and maintain a positive community.

As you can see in the chart below, the Steemit community has been growing since its inception in 2016. According to a report on Steemit, there are 110,187 active users as of January 2018.

Active users per month of Steem coin

Now that we know how the Steemit platform is run and operated, let’s try to find out whether it really works.

Does Steem Really Work?

The concept of Steem is clearly exciting, as it offers many unique benefits and edges over its traditional competitors. That’s the reason it saw a huge price surge in 2017.

However, although it is exciting, it is currently facing some rather major challenges. If it does not overcome these issues quickly then it will just be another social media platform with a lost cause. Let’s take a look at the key issues the Steemit platform is currently faced with.

Voting Game

Curations of content through voting is one of the most important aspects of Steemit. In fact, the Steem crypto that is awarded to creators is directly linked to it. Unfortunately, it is very simple to code a few lines to create a bot for spam voting.

To worsen the situation, Steemit has openly shared the measures it has taken to fight the bots. With such open calculations available to them, coders can easily make the bots look like genuine Steemers.

It would be fair to say that not enough measures have been taken by Steem coin to solve this problem.

On the other hand, if you look at Reddit, you can see that they have taken extremely complex measures to fight this voting game and stop the bots. All their calculations and measures are concealed in order to make it difficult for coders to create working bots.

Even with these concealed calculations, Reddit still faces the challenge of fake voters, and they have to keep upgrading themselves. So, if Reddit is struggling even with their concealed calculations, Steemit is really going to have to step up their game if they want to stop the problem.

Driven by Cash

Rewarding the users with Steem coin for their contributions may be a good idea but it has many downsides too. The biggest problem is that the users are so driven by the financial angle that the whole idea of knowledge sharing takes a bit of a hit.

Steemit was supposed to be a cool place to hang out with companions but it has now become a competitive space, which feels more like a workplace. Users now look at it as an opportunity to make money and so their outlook has completely changed.

People do not share freely but are rather trying to come up with a piece that would help them gain as many upvotes as possible. It doesn’t end there — money is a strong motivator and can make people do ‘wrong’ things, such as creating bots to fraudulently upvote their content.

The same is the case with curators!

Rather than appreciating something genuine and good, they are on the lookout for the article that will get the most votes and in turn will increase their chances of making more money.

When an activity is monetized, it often loses its core purpose. If sharing is monetized, then people will stop sharing what they genuinely like and appreciate. If you monetize commenting, people will likely just comment on what they believe will earn the most money.

This is the sad truth of Steemit at present.

Granted, it isn’t literally every user. But, it is a lot of them.

When cash gets involved, people typically become more narrow-minded. It can also be said that this system attracts the wrong kind of users. The kind of users who would not hesitate to turn a blind eye to morals or ethics.

This leads us to the next issue — plagiarism.

Plagiarism

One of the most unfortunate outcomes of Steem’s monetization is that even plagiarism is rewarded.

A lot of times the original stories don’t get the appreciation they should receive. However, they get replicated quickly and are able to generate significantly more interest. That’s because most of the curators just want to be part of the stories that are doing well.

So, not many of the curators are bothered about the fact that the replicated story came later than the original story. In fact, duplicate content is the least of their concerns, as their main focus seems to be on making money.

Perhaps the worst thing about this situation is that it kills the interest of genuine users. It is the expert marketers or bot creators who start controlling the platform and accumulating more of the Steem cryptocurrencies.

This could lead to a huge lack of original content. This is absolutely not what Steemit was created for — it completely goes against some of its core principles.

While Steem has been able to create a market for itself as the go-to place for ‘get-paid-to-post’, it needs to overcome these challenges as soon as possible. The way in which Steem tackles these challenges directly affects its future, and it could also directly affect the price of the Steem coin.

Moving on, let’s take a look at the investment journey of the Steem coin so far.

Steem Coin Investment History

Did you know that the Steem crypto had become the third most valuable cryptocurrency at one point in time?

Yes, Steem coin saw a massive surge in its price on 20th July 2016 as it grew from about $0.27 to $4.34 in a single week. As a result of this, Steem’s market capitalization became $384.5 million, 3rd only to Bitcoin and Ethereum.

As you can see in the chart below, it was not able to sustain the hike for too long and the price fell to a low of $0.12 in November 2016.

However, Steem coin then touched a new high of $7.28 in January 2018. That’s a return of about 4,853% if we compare it with the price in January 2017, which was around $0.15. Not bad, eh?

Steem price charts

Like most other cryptocurrencies, the price of Steem crashed later in Q1 2018. Things haven’t looked up for Steem coin since then and it is trading at around $ 2.85 currently.

Steem prices also typically go down because more Steem coins are added every day to reward creators and curators. The users who receive Steem also cash them out. This is one of the reasons for creating Steem Dollars and Steem Power, in addition to Steem.

So, this is what the historical performance of Steem looks like.

There is no doubt that it has attracted a lot of investor attention because of its unique proposition. In order to continue doing so, Steem needs to solidify its offering in terms of technology and systems. It must fix the problems that face them.

Final Words

You now know what the Steem cryptocurrency is and how it is used to power the social media platform, Steemit. You also know how creators and curators play a central role on this blockchain-based platform which rewards the users for their contributions.

In addition to Steem coin, you should have a good idea about the other two cryptocurrencies of the Steem network — Steem Dollars and Steem Power.

So, with your newfound knowledge, have you formed any opinions of your own? Are you planning to use Steemit? What do you think about the challenges it is currently facing?

Whatever your views, don’t hesitate to let us know! We’re always interested to see what you have to say.

The post What is Steem: The Complete Steem Cryptocurrency Guide appeared first on Steem Portugal.

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Learn How to Maximise Your Upvotes in the Various Tribes https://steemportugal.com/learn-how-to-maximise-your-upvotes-in-the-various-tribes/?utm_source=rss&utm_medium=rss&utm_campaign=learn-how-to-maximise-your-upvotes-in-the-various-tribes https://steemportugal.com/learn-how-to-maximise-your-upvotes-in-the-various-tribes/#respond Sat, 25 Jan 2020 00:30:45 +0000 https://steemportugal.com/?p=2485 the ones of us who stayed got to experience the birth and growth of the Tribe System which was developed by @aggroed and @yabapmatt, in cooperation with @harpagon. This allowed many Tribes to pop up. Some of them were short lived as they had no real purpose or plan to build and grow something different; Some Tribes promised a lot but withered […]

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the ones of us who stayed got to experience the birth and growth of the Tribe System which was developed by @aggroed and @yabapmatt, in cooperation with @harpagon.

This allowed many Tribes to pop up.

  • Some of them were short lived as they had no real purpose or plan to build and grow something different;
  • Some Tribes promised a lot but withered away, as their founding members went silent (LifeStyle is the one I was really hopeful for…);
  • Yet, a few Tribes actually managed to survive and have plenty of active members. The ones which are more attractive to me are, in this order: Reggae SteemNeoxian City and Creative CoinSteem Leo is doing an incredible job too, but investments and markets are topics I rarely post about;
  • Just a week and a half ago, a new Tribe appeared to focus on Political content: Talking Point; Again, not a topic that I post about but I can see its importance to the overall community. Many people here publish about Politics and they will feel right at home, in this Tribe. I hope it does well.

On top of this, @steemchiller revamped his Steem World to use Tokens, too, in addition to Steem and SBD… and added the functionality of claiming the rewards from every token at once, as well as staking them all with a single click, which is a lifesaver! And time saver, too!


How to Check Your Voting Power Across the Tribes

This is something that some people, even though they are active in several Tribes might not know:

  • Your Voting Power for each Tribe is independent;

This means that, if you are upvoting several posts a day and only a few for each Tribe, it’s likely that your Voting Power in those Tribes is being wasted without you realising it.

I’ll use some Tribes as example. By using the tool Steem Scotview developed by @blockchainstudioyou can see your Voting Power across the several Tribes. Just replace “trincowski” to your own username and the name of the Tokens from the Tribes you use the most:

https://economicstudio.github.io/vp/?a=trincowski&t=JAHM,NEOXAG,CCC,LIFESTYLE,LEO,POINT,PAL,TUNES,SONIC

PS: Remember, this link needs the name of the Tokens, not the Tags nor the name of the Tribes.

If you did it right, you should be looking at something like this:

ehoygs.png

If you don’t know how to change the settings for the various Tribes votes, it’s very likely that most of your Voting Powers are sitting at 100%.

What do I mean by change the settings for the various Tribes votes? 

A visual example will show you.

Do you notice that, in the picture above, my STEEM Voting Power was 91.88% and my JAHM Voting Power was sitting at 100%?

Let’s see what happens when I upvote one the comments from my friend @dmilliz in a post tagged with the #jahm tag, with just 5% of Voting Power in eSteem:

rmvu81.png

As you can see, even though I only wasted 5% of my STEEM Voting Power, bringing it down from 91.88% to 91.83%, the Voting Power for JAHM dropped from 100% to 98%.

My Vote in STEEM:

qpwcjr.png

My Vote in JAHM:

lg8zrv.png

How to Maximise Your Tribe Upvotes

Now, I’ll show you how easy it is to configure this. Just grab the same link from before and remove all the Tokens except one:

https://economicstudio.github.io/vp/?a=trincowski&t=JAHM

The page will now look like this:

jlap5i.png

On the bottom, at right, you can see that I highlighted “Vote Weight Multiplier: 20”

What this means is, that my Vote in STEEM will be multiplied by 20 in the Reggae Steem Tribe. So, my 5% upvote gets multiplied by 20, giving a total of 100% (5 * 20 = 100). Pretty easy, wasn’t it?

To make life easier, just bookmark the several links from the Tribes you use more and bookmark them. Keep an eye on the bars and fine adjust your Vote Weight Multiplier until you find the perfect balance.

qyfkpj.png

You don’t need to use whole numbers but it seems that 20 is the maximum multiplier you can use. For example, in PAL, my Vote Weight Multiplier is set to 1.75:

bxj3yf.png

Well, that’s all for now… if you were paying attention, you should be able to start making a better use of your Votes across all the Tribes, without worrying that your Steem Power will drop too low.

Nevertheless, feel free to make me any questions, if you have any doubt how to properly configure it.

The post Learn How to Maximise Your Upvotes in the Various Tribes appeared first on Steem Portugal.

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https://steemportugal.com/learn-how-to-maximise-your-upvotes-in-the-various-tribes/feed/ 0 ehoygs.png rmvu81.png qpwcjr.png lg8zrv.png jlap5i.png qyfkpj.png bxj3yf.png
Things you should know about BAT & Brave https://steemportugal.com/things-you-should-know-about-bat-brave/?utm_source=rss&utm_medium=rss&utm_campaign=things-you-should-know-about-bat-brave https://steemportugal.com/things-you-should-know-about-bat-brave/#respond Sat, 18 Jan 2020 00:35:56 +0000 https://steemportugal.com/?p=2447 BAT stands for Basic Attention Token and it is a digital token used as a unit of account of human attention in Brave browser.

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1. What is Basic Attention Token (BAT)?

BAT stands for Basic Attention Token and it is a digital token used as a unit of account of human attention in Brave browser. In other words, users and content creators are getting paid for their attention in BAT tokens whilst advertisers use it to pay for their ads being displayed in Brave’s network. The project is led by ex-Mozilla Firefox co-founder – Brendan Eich.

BAT is designed to be the cryptocurrency to revolutionize the digital advertising industry by bringing advertisers, content creators, and viewers together on one single platform. This creates a system in which an advertising exchange marketplace is established in which only user attention is directly monetized by advertisers. The result of this is a significantly more efficient digital advertising platform in which the Basic Attention Token can be used to obtain a variety of advertising and attention-based services.

The entire ethos of the project is to fairly reward users, content creators as well as giving advertisers a better ROI for their marketing activities. Content creators have the option to be rewarded in BAT by their supporters on a regular monthly basis. They are also able to upload their content on typical Social Media Platforms such as YouTube and still receive tips from users without having to give a percentage to the ‘middleman’. Furthermore, viewers are also able to be rewarded in BAT each month after viewing the advertisements that the Brave Advertisement network pushes to their browser. 

The Basic Attention Token is built on top of the Ethereum blockchain as an ERC-20 token. 

2. How many basic attention tokens are out there?

According to CoinMarketCap data, there are currently around 1.415 billion Basic Attention Tokens (BAT) in circulation. However, in total, there was 1.5 billion BAT created and this will be the absolute maximum.

Initially, 1 billion Basic Attention Tokens (BAT) were sold in their sale that generated over 150,000 Ethereum equating to a staggering $35 million. The team then went on to create a 200 million BAT Development Pool that is locked away only to be used to further the BAT ecosystem. Furthermore, the team also created an extra 300 million BAT to be used in their User Growth Pool. The 300 million BAT from the User Growth Pool is intended to incentivize users to join the BAT network. 

Unlike other cryptocurrencies, Basic Attention Token (BAT) cannot be mined and the entire circulation was already created at launch.

3. Is Basic Attention token an ERC-20?

Yes, Basic Attention Token (BAT) is an ERC-20 token that is created on top of the Ethereum blockchain. This means that you can actually store your BAT in any ERC-20 compatible wallet which gives users a wide range of different wallets to choose from.

The fact that it is an ERC-20 token also brings many advantages to the Basic Attention Token (BAT). Firstly, BAT can easily be traded with any other ERC-20 token as they adhere to the same technical standards because a list of mandatory rules must be strictly followed to create the ERC-20 token. Secondly, as it is run on the Ethereum blockchain, BAT also inherits all of the security and performance features that Ethereum provides – especially when ETH turns into a PoS coin at some point during 2020. If BAT was to decide to migrate to their own blockchain, they would face potential attack vectors in which one entity could control the entire market as the network would be very small. This is something that would be detrimental to the project.

In addition to all of this, the fact that it is an ERC-20 token means that “smart contracts” can easily be built and executed using the Basic Attention Token if need be.

4. What Can I use Basic Attention Token For?

Basic Attention Token (BAT) is primarily to be used as a means of value transfer on the Brave Browser and can be utilized for a range of services including; 

  • Tip Creators on Twitter, Youtube, and Twitch.
  • Run an advertising campaign on Brave.
  • Donate to creators on a regular monthly basis.
  • Buy future services such as a decentralized VPN on the Brave browser.

Advertisers can use their Basic Attention Tokens (BAT) to deliver advertisements and run an advertising campaign to the Brave community. In doing so, the advertiser receives a wide range of anonymous data and analytics on the attention placed on their advertisements. 

Users can utilize their BAT to donate directly to their favorite content produces – whether it be on YouTube, Twitter, or Twitch. If you like the contribution (comments) from other members within the community, you can also reward them in BAT. Additionally, users can reward their favorite Brave publishers with a monthly contribution in BAT, meaning they will automatically donate BAT to their specific Brave publisher (content producer) automatically every month.

Furthermore, users of the Brave browser will also be able to spend their BAT on future services provided by Brave. An example of this could be the upcoming decentralized VPN network, known as VPN-0, that Brave will integrate into their browser.

5. What is the difference between Basic Attention Token (BAT) and Brave?

Basic Attention Token (BAT) is a cryptocurrency whereas Brave is a privacy-preserving internet web browser. The entire Brave Project encompasses the Basic Attention Token (BAT), an advertising exchange, and an extremely fast privacy-preserving browser. BAT is the token that is used to provide a means of value transfer between advertisers, content publishers, and users on the Brave project.

The entire idea of the Brave Browser is to shake up the entire digital advertising industry that is currently dominated by tech giants such as YouTube and Facebook. They have provided a privacy-focused web browser, known as the Brave browser, that does not collect any sensitive or private information regarding its users. Furthermore, the Brave browser has been proven to be much quicker than rival browsers such as Google Chrome or Mozilla Firefox. 

The Brave project achieves this very quick browsing speed as it blocks all outside advertisements and 3rd-party trackers by default. This means that less time is spent loading the data for advertising saving you bandwidth and time. The only advertising on Brave is the advertisements that the team verifies and allows to be pushed to their users via the Brave Advertising Network, in which they are rewarded BAT for their attention.

6. How do you get BAT rewards in the Brave browser?

There are a variety of methods in which users can get BAT rewards in the Brave browser. The most prominent method is to activate “Brave Rewards” in the Brave browser settings and receive BAT for viewing advertisements. Each time a user views an advertisement they will be rewarded in BAT which will be paid to the user’s wallet in the Brave Rewards section on the browser. This reward can be claimed every month on the date of the next payment as dictated by Brave.

Another method to receive BAT rewards is to contribute to the comments section for verified Brave publishers. If other Brave users agree that you are contributing to the topic at hand, they will be compelled to reward you in BAT. 

The last method to receive rewards in the Brave browser is to become a verified content producer. If you have a particular skill or extensive knowledge on a particular topic, you can create blog posts or video posts to showcase your knowledge and be rewarded in BAT from your community if they like your content. Furthermore, if users really love your content, they may decide to automatically donate to your content on a monthly basis.

7. Where to buy Basic Attention Token?

Basic Attention Token (BAT) can be bought on a variety of the top cryptocurrency exchanges as it is a very popular coin. You can buy BAT with cryptocurrency or fiat at the following top exchanges. In most cases, you will have to top your account up with FIAT, buy Bitcoin/Ethereum, and then use the BTC/ETH to buy BAT;

  • Binance – BTC, ETH, USDt, BNB, USD (Fiat – Binance US only). 
  • Coinbase Pro – ETH, USDC
  • BitFinex – BTC, ETH, USD (Fiat) 
  • Kraken – BTC, ETH, EUR, USD (Fiat)
  • CoinBene – BTC
  • IDCM – BTC
  • BitTrex – BTC, ETH, USDt, USD (Fiat)
  • Coinone – KRW (Fiat)
  • BitMart – BTC, ETH, USDt
  • HCoin – USDt
  • Exrates – USD (Fiat)
  • CoinField – USD (Fiat)
  • OkCoin – USD (Fiat)
  • Changelly – Convert Crypto to BAT

8. Can You Mine Basic Attention Token?

No, Basic Attention Token (BAT) cannot be mined like Bitcoin or Ethereum. Instead, the creators of BAT decided to do a sale in which 1 billion BAT were sold, raising a total of 150,000 ETH. The team then created a further 500 million BAT tokens for development and user growth. This total supply of 1.5 billion Basic Attention Tokens will be the absolute maximum supply for the BAT economy and no more tokens will be created or mined. 

The fact that Brave elected to do an ICO in which all of the supply was released creates an ecosystem that cannot be dominated by one mining entity. Instead, users, advertisers, and publishers will have to get their Basic Attention Tokens the same way as everybody else – by buying them on an exchange. Furthermore, as we know that the majority of the supply is already in circulation, this creates an environment in which an additional token influx cannot affect the price. This should create a more stable and confident trading environment for all BAT holders. 

9. Who created the basic attention token (BAT)?

Basic Attention Token was created by a company called Brave Software which is spearheaded by Brendan Eich. Eich created Brave Software in 2015 with co-founder Brian Bondy and they went on to release BAT through an ICO in May 2017.

Brendan Eich is a very respected programmer and has many accolades on his resume which includes being the creator of the well-known programming language JavaScript which went on to become the standard software of the web. This is very apparent considering the fact that there are now over 1.6 billion websites that have been created with JavaScript. Furthermore, Brendan Eich is also the co-founder of the Mozilla Foundation which went on to release the highly popular Mozilla Firefox Browser which shows that Eich has more than the required expertise to carry forward the Brave project.

Eich grew up in Pittsburgh and studied mathematics and computer science at Santa Clara University. He went on to receive a master’s degree from the University of Illinois at Urbana-Champaign. Upon leaving his studies, Eich began to work at Silicon Graphics in which he worked on OS and network code. He went on to work for Netscape in 1995  to work on their web-browser before co-founding Mozilla in 1998. Eich resigned as the CEO of Mozilla in 2014 and then went on to co-found Brave Software.

10. Is Basic attention token a security?

According to Brave, the Basic Attention Token (BAT) is not to be considered as a security as it is viewed as a utility token based on the Ethereum technology and is not classed as a security, digital currency, or commodity. Furthermore, considering that William Hinman, an SEC official, stated that he does not believe Ethereum is a security adds to the fact that BAT would also not be considered as one.

The Brave team completely believe that Basic Attention Token is fully legally compliant and not a security. Before launching, the team was very clear in laying out the groundwork for BAT as a utility token by taking up counsel with the international law firm Perkins-Coie. Together, they clearly laid out their strategy to make sure BAT would never be deemed as a security token.

However, the regulation is still unclear and we will need to wait for some official guidance from the SEC to fully be confident that BAT will not be considered as a security down the road.

11. What Notable Partnerships do Basic Attention Token & Brave have?

Basic Attention Token (BAT) and Brave Software have a wide variety of partnerships that include very well known enterprises as well as the 370,000 verified publishers that they are partnered with on Twitter, YouTube, Reddit, and Twitch. Some of the most notable partnerships include;

  • Dow Jones Media Group – Partnered in 2018
  • DuckDuckGo – Partnered in 2017 
  • Coinbase Earn – Partnered in 2019
  • Qwant – Partnered in 2018
  • CIVIC – Partnered in 2018
  • Everpedia – Partnered in 2019

This is an extremely expansive list of high-profile partnerships that are designed to take the entire Brave project further. The partnership with Dow Jones Media Group was created to offer premium content to users and test blockchain-based payment technology. Brave partnered with DuckDuck Go to improve privacy on the web. The DuckDuckGo search engine has been integrated into the Brave browser’s private tabs. The Qwant partnership was also established to use Qwant as the default search engine for users in France and Germany.

The partnership with Coinbase Earn was to make BAT easier to use and understand. Users are able to earn up to $14 by taking part in the short tutorials that Coinbase put together. Everpedia teamed up with Brave which allowed it to be featured on the Everpedia Homepage. Furthermore, Everpedia advertisements are also featured in the Brave browser.  

The final partnership to highlight is with CIVIC who joined forces with Brave to provide secure identity verification services on the Brave Publisher platform.

12. Does Basic Attention Token Have an Explorer?

Yes, Basic Attention Token (BAT) does have an explorer. As Basic Attention Token (BAT) is built on top of the Ethereum network, you can explore their blockchain on Etherscan. Etherscan provides block explorers for all of their ERC-20 tokens. You can use the block explorer to look-up detailed information about any Basic Attention Token (BAT) transaction, address, and block. 

13. Does Brave browser have a VPN?

As of early 2020, the Brave browser VPN is still in development. The Brave team is working on a distributed virtual private network (dVPN) which is a VPN with no central authority. Typically, dVPNs designs fail to provide any strong privacy guarantees and users can even be abused by unknowingly transmitting illegal or harmful network traffic. Brave is working on VPN⁰ which integrates a system for dVPN nodes to be able to decide what type of traffic they want to transmit. This means that if the node operator only wanted to transmit data from news websites they would be able to select this and only news articles would pass through their node.

Most importantly, VPN⁰ nodes are able to control which traffic they transmit without learning what content it contains by utilizing zero-knowledge proofs. This guarantees privacy for the users of the dVPN whilst ensuring that nodes will not be abused by relaying potentially harmful traffic. 

VPN⁰ has been integrated with BitTorrent DHT and ProtonVPN for benchmarking its performance. The initial results prove the feasibility of the system but the zero-knowledge calculations still need to be sped up. 

14. How do I enable Brave ads?

Brave Ads are disabled by default but enabling Brave Ads is very simple;

  1. Open Brave Browser and hit the main menu icon () in the top right corner.
  2. Select the Brave Rewards menu item.
  3. Enable “Brave Rewards” at the top of the page.
  4. Enable “Ads” directly beneath this.
  5. Brave Adverts are now enabled.

After enabling Brave advertisements you will have to wait for an advertisement to pushed and it is usually just a matter of time as the machine learning algorithm will figure out the best time to display ads to you. Furthermore, the user will also have to be in an eligible Brave Ads region. It will appear in the top right-hand corner of your screen (Mac OS) or bottom right-hand corner (Windows OS) as a desktop notification pop-up. You simply have to click the advertisement to view it and be rewarded in BAT.

15. How to disable Brave ads?

Brave Ads are disabled by default but if you have them enabled simply follow these steps to disable them again;

  1. Open Brave Browser and hit the main menu icon () in the top right corner.
  2. Select the Brave Rewards menu item.
  3. Enable “Brave Rewards” at the top of the page.
  4. Disable “Ads” directly beneath this.
  5. Brave Adverts are now disabled and you will no longer receive any advertisement notifications from Brave.

16. Where are Brave ads being displayed?

Brave advertisements are displayed in different locations depending on your Operating System. For Windows users, the advertisement notification will appear as a desktop notification in the bottom right-hand corner of your desktop, right by your system tray.

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For MacOS users, the advertisement notification will appear in the top right-hand corner of your screen as a desktop notification.

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For mobile users, the advertisement notifications will usually pop-up in the notification area of your mobile phone;

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Advert notifications only appear when the machine learning algorithm for the Brave Advertising network deems it best to push an advertisement. The number of advertisement notifications per day varies depending on the day but we can estimate between 8-12 advertisement notifications per day. Furthermore, there is actually a hard-cap of advertisements a user can click per day and after they reach this the browser will not display any more advertisements. Furthermore, another reason you may not be seeing advertisements is that there are no relevant advertisements based on your browsing history. This is fine, you just need to browse a little more and some will appear.

17. Is Basic Attention Token necessary to use Brave?

No, Basic Attention Token (BAT) is not necessary to use Brave. In fact, you can take advantage of the privacy-preserving web browser without ever owning any Basic Attention Tokens. However, every Brave browser does indeed come with its own integrate Basic Attention Token wallet which simply needs to be enabled in the “Brave Rewards” section.

Utilizing BAT within the Brave browser does provide a complete experience as you will be able to tip your favorite content producers simply by using the tipping tool. Furthermore, you will also be able to pay for any upcoming services that Brave Software release such as their upcoming decentralized VPN.

If you enable Brave Ads, you will receive desktop notifications anytime there is an advertisement available for you in which you will earn BAT each time you click the advertisement. These Basic Attention Tokens can be claimed each month on the payout date in the Brave Rewards section.

18. How is brave different from chrome?

Brave and Google Chrome are very similar web browsers as they are both built on the Chromium framework. However, the Brave browser is natively privacy-preserving as it blocks all trackers and advertisements, and it is up to eight times faster.

First of all, the Brave browser is a privacy-preserving browser. This means that Brave automatically disables all digital advertisements, banners, and videos by default – you don’t even need to add an extension such as AdBlock. Furthermore, the Brave browser also disables all third-party trackers and bots which means that you will not be tracked anytime you jump from website to website. The blocking of advertisements and tackers also leads to the fact that you save time and bandwidth as the web browser does not need to load these advertisements. Google Chrome has none of these features inherently and extension must be installed to achieve a similar level of privacy. 

Secondly, the Brave browser is actually much faster than Google Chrome. As it does not need to load the advertisement data, the webpages load at a quicker speed as less content is needed to be downloaded each time. According to Brave, their browser can be up to eight times faster at loading webpages than its competitor Google Chrome.

19. How much BAT can you earn with Brave?

The Brave team has estimated that users could earn up to $224 in Basic Attention Token (BAT) by viewing their advertisements in 2020. This is up by $154 from the previous years earning potential which peaked at the $70 mark in BAT throughout 2019. To earn this amount, we can assume that Brave users will have to click every single advertisement that is pushed to them and hit their ‘hard-cap’ each day. 

For every advertisement that is viewed, the Brave team has stated that 70% of the advertising revenue is given directly back to the viewers. This creates a system in which users are paid for their attention rather than users having to pay to browse in traditional browsers as in these legacy systems they pay with their time and bandwidth to load and view the advertisements.

Technically, there is no limit to how much BAT you can earn with Brave if you are a verified publisher who produces content that people wish to see. There is no limit to the amount of tips content producers can receive and if they have an audience that is loyal, they should see their earning stack up over time in BAT tips.

20. How does Brave collect my data?

Brave collects user data in a very specific privacy-preserving manner that ensures your data is not being sold to any third party. The most important thing to remember is that your personal data is only stored on your own personal machine and will NEVER leave the host device. Contrary to other browsers, Brave does not store any of your personal data about browsing habits on any of their servers. 

Typically, web browsers such as Google Chrome will make a series of calls to an ad server that includes information about you and your browsing behavior which is then sold on to third-parties that will use this data to profile users and target them with advertisements. Brave tackles this problem by never letting user data leak from the device to any cloud server. Instead, Brave’s ad server will send the entire Ads Catalog to all of their users that have enabled Brave Rewards. The Brave Browser will then use local machine learning to determine which advertisement to show to you based on your browsing habits that are secure on your own device. The machine learning algorithm will also determine the best time to show you the advertisement.

21. In what countries are Brave Ads available?

Currently, Brave Ads are available in 30 countries around the world, however, the team are continuously expanding the regions in which they operate. According to the team, their business development plan dictates that they must abide by the laws within each individual region. The regions where Brave Ads are active include;

  • United States
  • United Kingdom
  • Canada
  • France
  • Germany
  • Australia
  • Ireland
  • New Zealand
  • Argentina
  • Austria
  • Brazil
  • Switzerland
  • Chile
  • Colombia
  • Denmark
  • Ecuador
  • Israel
  • India
  • Italy
  • Japan
  • Korea
  • Mexico 
  • Netherlands
  • Peru
  • Philippines
  • Poland
  • Sweden
  • Singapore
  • Venezuela
  • South Africa

Ref: https://www.publish0x.com/crypto-truth-lexicon/top-things-you-should-know-about-bat-brave-xlvjoo

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ExpressVPN 2019 review https://steemportugal.com/vpn/?utm_source=rss&utm_medium=rss&utm_campaign=vpn https://steemportugal.com/vpn/#respond Mon, 04 Nov 2019 16:09:08 +0000 http://steemitportugal.com/?p=2209 Paying more than $60 for a VPN service is too much. Unless that company is offering a ton of extra features and device compatibility to justify the cost. One company making that gamble is ExpressVPN, which charges nearly $100 per year. I’d still like to see ExpressVPN be up front about who’s behind the company, but you sure get a lot for your annual fee.

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ExpressVPN in brief:
  • P2P allowed: Yes
  • Number of servers: 3,000+
  • Number of country locations: 94
  • Business location: British Virgin Islands
  • Cost: $99.95
  • VPN protocol: OpenVPN
  • Data encryption: SHA-256
  • Data authentication: AES-256-SHA256/AES-256-GCM
  • Handshake: 2048-bit RSA

Paying more than $60 for a VPN service is too much. Unless that company is offering a ton of extra features and device compatibility to justify the cost. One company making that gamble is ExpressVPN, which charges nearly $100 per year. I’d still like to see ExpressVPN be up front about who’s behind the company, but you sure get a lot for your annual fee.

On top of the usual VPN connections, ExpressVPN says it works with Netflix in more than two dozen countries (we only tested the U.S. connection), and you can use its smart DNS service to make an Apple TV or gaming console access U.S. media from overseas.

expressvpnactiveconnection
ExpressVPN with an active connection.

A key change with the latest version of ExpressVPN is that it’s in the process of switching its server configuration to what it calls TrustedServer. These are servers that don’t have a hard drive and run entirely on RAM. The only other service we’ve seen do this is OVPN. Running everything in RAM avoids the possibility of any data logging since there’s nowhere to the write the data to permanently. It also means that data is frequently overwritten and all data is lost when the server reboots. Authorities could employ some forensic techniques to pull limited data off RAM, but it wouldn’t be easy.

Features and services

When you first start up ExpressVPN, it looks similar to its previous incarnation. It still has a simple single-panel interface with an on/off button, and the country selection below it. This version is a little cleaner than the one we looked at in 2017.

Click the hamburger menu in the upper-right corner, and you can get to the options where you can choose your VPN protocol including OpenVPN, L2TP, and PPTP.

There’s also a VPN kill switch, and a split tunneling feature where you can specify which apps will use the VPN.

To get to the country options, you have to click the circular icon on the main dashboard. The country list has two tabs: Recommended and All locations. Under All locations you can find all 94 country locations, while Recommended is a list of good country connections based on your location.

expressvpnspeedtest
ExpressVPN’s built-in speed test.

By default, ExpressVPN doesn’t show ping times or server load, but you can use the built-in speed test under the “hamburger” menu icon to see ping times and estimated download speeds for each country. These speed tests happen in a separate window and don’t show up in the main country list. You can, however, connect to the VPN from here.

As we mentioned earlier, ExpressVPN is $99.95 per year, which covers up to five simultaneous device connections and is available on Android, iOS, Kindle Fire, macOS, routers, and Windows. There is also the MediaStream service for Apple TV, Fire TV, PlayStation, and Xbox that lets you view U.S. streaming media from overseas.

Browser extensions from Chrome and Firefox let you control the app from the browser instead of acting as simple browser-only proxy connections.

Performance

In our tests, ExpressVPN was very fast. It didn’t hit the top-tier speeds we saw with HotSpot Shield, but it’s in the tier just below that. In our tests, ExpressVPN maintained 55.18 percent of the base speed across five locations worldwide during three separate days of testing. That’s a lot faster than most services we’ve evaluated, and is more than sufficient to accommodate a home user’s online activities.

Privacy, anonymity, and trust

expressvpncrashreports
ExpressVPN asks if you want to contribute to crash reports during initial setup.

ExpressVPN promises not to log any of your browsing history, or other personal data such as DNS queries, IP addresses, connection timestamps, or session duration. It does keep diagnostic and crash reports, but one thing that I really like is that ExpressVPN’s app on Windows asks you upfront if you want to contribute this data. That’s an excellent approach, which should be standard for all VPNs.

While ExpressVPN doesn’t keep logs on your activity, it does save some data. It logs the version of the ExpressVPN you’re using, successful connection attempts, which VPN location you connected to and from which country. That’s a lot of information; however ExpressVPN says it does not log any IP addresses, neither your original or the one the VPN assigns to you. ExpressVPN also logs the total amount of data transferred in order to kick data hogs off its platform.

ExpressVPN explains how its privacy policy works with this simple example, “We may know, for example, that our customer John had connected to our New York VPN location on Tuesday and had transferred an aggregate of 823MB of data across a 24-hour period.” ExpressVPN says an individual users’ actions can’t be identified since it all blends in with the actions of other users.

That’s all okay, but not great for anyone trying to maximize privacy. The thing that bothers me about ExpressVPN is that it doesn’t publish its business address, nor the names of its CEO or founders. The company does have one person who puts a public face on ExpressVPN, and that’s Harold Li, company vice president.

The company says despite its position on anonymity for the founders (and no business address) it’s working towards greater transparency. It expects to publish third-party audits on its servers and “security posture” in the coming weeks. The company also works with the Center for Democracy and Technology to define trustworthy signals for VPNs.

That’s pretty good stuff, but I’d still like to see more transparency behind who is running the show.

Conclusion

ExpressVPN has a great service. The speeds are phenomenal, the device support is off the charts, and the country locations and number of servers are vast. There is no question in my mind that you get more than enough value for your money. But I really don’t like that its founders and leaders prefer to remain anonymous, and that the company’s business address is not publicly available. As I’ve said many times before, using a VPN is all about trust, and that’s hard to have when you don’t know who you’re trusting.

Ultimately, then, (as with any VPN service) it’s up to you to decide whether or not to trust the company.

Reference: PCWorld

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Exchanges, trading and investing https://steemportugal.com/exchanges/?utm_source=rss&utm_medium=rss&utm_campaign=exchanges https://steemportugal.com/exchanges/#respond Fri, 01 Nov 2019 15:37:37 +0000 http://steemitportugal.com/?p=2204 Trading is one of the riskiest things to do, especially when a person is beginning. Yes, you might be able to gain thousands, even millions, but you can also lose everything in one single night, one single bad trade and you can have your whole trading account go down to 0...

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Trading is one of the riskiest things to do, especially when a person is beginning. Yes, you might be able to gain thousands, even millions, but you can also lose everything in one single night, one single bad trade and you can have your whole trading account go down to 0…

Knowing about risk management, resistance, supports, RSI, MACD, all these allows you to reduce the risk of trading. A good trader can lose 10 trades, but with one single trade he can win it all back, plus something!

But there is always one risk you can’t do anything about, the exchange…

In a highly unregulated market like crypto is, exchanges are “hacked” all the time, and when they aren’t hacked they just disappear without any notice! Some exchanges go so far as telling people that their founders died and that the founder was the only one with access to the exchange’s wallets… and a couple of days later the wallets are drained out of all their funds. I guess people need crypto in the next life too…

Exchanges are, at this moment, one of the most worrisome problems we have in crypto, not only to traders but also for investors. We all know that crazy “investor” that leaves their investments on exchanges instead of storing them in cold storage…

Picking exchanges is hard, even the most trustworthy exchanges are hacked. Messages flood reddit of accounts hacked, we can’t know if these people were hacked because of something dumb they did or if the exchanges are hacking small accounts one at a time and stealing their funds. There is no way to know!

Bitmex

Just last night some Bitmex user’s emails were leaked to the public! Do you know how dangerous this is? It’s just an email address you think? What if I told you that there are Terabytes of stolen passwords available to anyone that knows a little about the internet, I was able to find the file that I’m talking about in a couple of minutes…
Using the emails plus stolen passwords, one could very well log in to Bitmex and log in to the email account and drain all their funds. Of course, it would require the hacker to find an email account and bitmex account without google authenticator (2FA), but there are many!

And let’s not even talk about how easy it is now for the US to know who is using Bitmex or not… with access to the whole list of email addresses that are using Bitmex, the US only needs to run the list through their NSA database to check which account belongs to who… Get ready American Traders that are using VPN to keep trading on Bitmex, the US might be very near your doorstep now!

OKex

There is one well-known exchange that has never been hacked, OKex! But some of the stuff I’ve seen from them makes me uneasy.

Some months ago they fired a friend of mine from being the Portuguese OKex Telegram admin, ok, fine by me, but oh wait… they hired someone else!

OKex hired an admin that was a bot most of the time! Yup, and with that bot another 10 or so bot accounts joined the server, and all they did, day in and day out was to spam the channel with fake conversations, faking message volume on their telegram.

I tweeted about this and someone higher up OKex took notice of the issue and fired the admin, they were quick to solve the issue, but now the question remains, did they hire the admin fully knowing that it was a bot trying to get a higher fake message volume, or did they hire the admin not knowing?

I’ll write about this OKex Telegram issue later this month, right now I’m too busy studying and I want to make a well written and unbiased post about it.

Binance…

Binace is by far one of the largest exchanges in the west, but even them were hacked at a certain point in time! But at least they acted accordingly, freezing everything and reverting all the trades. And when they weren’t able to stop the funds from leaving the exchange they actually took out of their own pockets to buy the funds back and give them back to the hacked accounts.

OceanEx

Right now the exchange that I’m mostly using is OceanEx. OceanEx is part of the VeChain ecosystem and they seem to be expanding fast. They use AI to keep the exchange protected against hackers and AI to keep the least amount of crypto funds in the hot wallets, which is great! But how can I be sure that the AI is doing what they are saying, how can I check the AI? Can they be using the term AI loosely? We all know that the words AI, Quantum and blockchain have been used before just to increase the hype.

Bybit

Another exchange that everyone seems to be shilling hard is Bybit. I always feel uncomfortable with exchanges that are shilled too hard, I always feel like they are trying too much, and that they have too much money to give away to shillers, where is all that money coming from?

DEXs are going to be the future, but can we trust them?

DEXs are the future of crypto, decentralized exchanges that are based on Smart Contracts, exchanges like Bitshares for example, but can we trust them? Smart contracts are a new type of tech, one single error in the code might enable hackers to steal thousands in seconds. And this early in the industry I’m not sure how much faith we should really put in Smart Contracts… I would rather trust a centralized exchange with my trading than a decentralized exchange, at least for now, but I do think the future for DEXs is bright! Especially now with nearly immortal websites that have their frontend stored on IPFS and their backend stored on blockchains! This means immortal DEXs!

Reference: https://steemit.com/steemleo/@teutonium/exchanges-are-dangerous-bitmex-leaked-emails

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JIEYI Technology Partners With NULS to Provide Blockchain-based Domain Name Services https://steemportugal.com/nulss-jieyi/?utm_source=rss&utm_medium=rss&utm_campaign=nulss-jieyi https://steemportugal.com/nulss-jieyi/#respond Tue, 29 Oct 2019 22:42:09 +0000 http://steemitportugal.com/?p=2199 Jieyi Technology will create an application to provide it’s customers with blockchain-based domain name services and has NULS as it’s blockchain solution.

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Jieyi Technology will create an application to provide it’s customers with blockchain-based domain name services and has NULS as it’s blockchain solution. The upcoming domain name application will officially support NULS address-binding, including domain name registration, purchases and renewals. The application will also support NULS payments for customers making purchases in the application.

In addition, the cloud-based blockchain wallet integrated with Jieyi Technology will access the NULS ecosystem to support both storage and NULS payments. Nabox, the NULS mobile eco-wallet provider will also be integrated to assist with promotional materials and domain transfers.

Reference: https://medium.com/@nuls/jieyi-technology-partners-with-nuls-to-provide-blockchain-based-domain-name-services-3c498cca894a

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Blockchain – So Many Issues! But So Much Innovation https://steemportugal.com/blockchain-issues/?utm_source=rss&utm_medium=rss&utm_campaign=blockchain-issues https://steemportugal.com/blockchain-issues/#respond Sun, 20 Oct 2019 10:35:11 +0000 http://steemitportugal.com/?p=2194 We are so god damn early into this tech, it's like getting on the internet in 1990 or even earlier! It's a once in a lifetime opportunity, not kidding! It's a once in a lifetime opportunity to get in on a new asset class, these types of opportunities don't come around many times, I would say that once every couple of decades if not centuries...

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We are so god damn early into this tech, it’s like getting on the internet in 1990 or even earlier! It’s a once in a lifetime opportunity, not kidding! It’s a once in a lifetime opportunity to get in on a new asset class, these types of opportunities don’t come around many times, I would say that once every couple of decades if not centuries…

When a person invests in crypto they are basically investing in a new alternative economic system based on scarcity (at least in most cryptos), an economic system based on scarcity living side by side with an inflationary economic system, do you know what this means?

An inflationary economic system even though it has its advantages in terms of consumer spending it will, with time, tend to 0… the paper that most people call money will, with time, lose all its value, while the scarce economic system will only grow in value, it will grow to infinite as more people convert their “time” to crypto. But there are some things that need to be fixed!

We have so many problems in cryptos, especially when it comes to investing! We have more problems than a teenage girl! Let me name a few of the problems that I find most concerning:

Technology

BTC, BCH, BSV, most people look at these and don’t understand the difference between them, most people don’t look into the tech, but the tech is important! We are investing in a highly speculative market that is based on tech, not knowing anything about the tech is like trying to walk a minefield blindfolded, you will either have a lot of luck or you’ll explode midway… and even knowing a little about the tech and losing the blindfold, we’ll still have to walk that minefield, a minefield of trying to see what is most useful and most prone to be adopted, a minefield of speculation!

The differences between them are mostly based on the size of the blocks and the size of the blockchain, and ETH has exactly the same issue to be honest…

Explaining it without going too deep into the issue, bigger blocks and a bigger blockchain size make the hardware required to verify transactions, to run full nodes, more and more expensive. With the increased price of the hardware comes the issue that many people that want to support the network can’t because they don’t have money to buy the best hardware, so, we lose a lot of decentralization this way, we lose censorship proof bit by bit…

BTC is by far one of the easiest ones to confirm transactions, it has a small block size, a small blockchain size, anyone anywhere can verify transactions and verify the whole blockchain with just a phone.

BCH increases the block size by bit, with bigger blocks comes more tx per second, but, just like I mentioned, not everyone can confirm transactions on it because the hardware requirements increase too, in a network that doesn’t have much hashing power this is really worrisome because it concentrates power in some people, a crackdown by any government or one bad actor threatening these people would result in the loss of many BCH, in the whole networking collapsing, in the loss of investor’s trust.

ETH has the same issue, big blocks and a big blockchain size, it becomes harder and harder for someone to run a full node, a real full node that confirmed all the transactions on the blockchain, last time I checked, with a 2019 laptop with an SSD it takes more or less one full month to confirm every single transaction, it is a lot of time… running a fast_sync node with assume_valid = 1 is much quicker, more or less one day, and it might be very similar to running a full node, I would say that it is 99,999% like running a full node, but not a true full node…

Even Vitalik understands that this is one of the issues with Ethereum, he already tried to convince the community to restrict gas limit at least until ETH 2.0 (ETH on PoS), which, in theory, stops this centralization of hashing power from happening. Even though he has been losing power inside the ETH community, with organizations like Consesys and Maker gaining lots of power, even more than Vitalik at the moment in my opinion, he was able to warn people and many of the nodes and core devs took notice and are watching this issue closely.

Some people also argue that a full node in ETH needs to have an archive node with the full history of the blockchain, it doesn’t! An archive node can be extracted from any full node, it takes time, but it can be extracted from it. Of course, some archive nodes are needed, but not every single full node having one.

BSV is the worst one, the size of everything, including Craig Wrights’ ego and pumpkins, make the whole blockchain so centralized that I’m not sure if there is more than one single big server confirming transactions worldwide…

Is this decentralization issue really important? Well, I would argue that it depends on what the aim is, for ETH I think we need enough decentralization to be censorship proof, but how much is that? Does everyone need to confirm transactions? Who knows, unless we have a huge crackdown by a government we can’t know how much decentralization is needed to keep the blockchain going even in times of oppression. For a store of value, I think the best scenario is to enable everyone in the world to confirm transactions, it doesn’t matter where you are and how much money you have, you can probably confirm transactions and keep the network going, so, for a Store of Value capable of withstanding every government in the world getting corrupted I would say that Bitcoin is the winner… but this is just personal opinion of course.

Business model and tokenomics

People think that the number of tx is one of the most important things a blockchain has, but I would argue that it isn’t, the business model, the way the token works is, in my opinion, one of the most important things there is… it doesn’t matter if you have a bazillion tx per second, if the token doesn’t matter when someone is using the blockchain and, in some cases, it’s inflationary without a max supply, there is no reason for the price to increase, give it time and the price will go down faster than a stripper on coke (the post was getting too serious).

Good strong business models and tokenomics that aim for cashflow to buy the token and, in an inflationary system without a max supply, burn the token, are needed to keep the price increasing long term… if not, it will only turn out like many cryptos are at the moment, with the price decreasing.

The internet has been around for a couple of decades now, and guess what, most websites are monetized… how? Mostly through Ad revenue and data selling… The whole internet runs on ad revenue and data selling, the issue is that everyone contributes to these websites (Youtube, Facebook, Twitter, Reddit, Games) and only a few get anything back! We, users, provide the value, provide the network and userbase, and the big corporations keep all the profit from our time and hard work, this is wrong! But blockchain and crypto can turn this whole economic system upside down!

By removing big greedy third party corporations through cryptocurrencies and providing a token for each community, each website, each game, we can divide all the value that comes from ad revenue through all the users! We can literally have an open-source game where everyone contributes to the development, that has ad revenue and that ad revenue is used to buy and burn tokens so that all the rest of the tokens increase in value, a community that generates and receives its own value! It’s amazing!

But most blockchains don’t do this… most blockchains try to suck in the retail investor into buying the token and don’t provide any value to the token hodler long term… token hodlers are left hodling bags down to 0, down to hell.

Good business models in crypto are needed! If not, say bye bye to all your money!

Fights and Maximalism

I hate maximalists and inner fights in crypto, no matter what shape, form or crypto they come from… how can someone be 100% certain that the blockchain x, y or z is the only one that is going to survive? Or that the a, b or c way is the only and true way to scale cryptocurrencies? How can someone have that big of an ego to be 100% certain of something? Like a philosopher once said “I know that I know nothing”, or like another great philosopher once said, “You know nothing John Snow.”.

Unless we now have fortune tellers in crypto, it’s impossible to be 100% certain of which blockchain or way to scale is the right one. Variety and diversity are the best things in life, variety and diversity make everything exciting! Diversity is what evolution is all about, even in blockchain! Having lots of people try different ways of solving the same problem will only make the tech and space grow exponentially faster in my honest opinion…

Even in the middle of the ICO craze we had, with the number of scams we had and still have, we got so much diversity and projects that were, and some are, trying new things with blockchain that righ now everyone in the world is paying attention to the cryptospace! The energy sector, the supply chain sector, the medical sector, every sector is looking at the tech and trying to figure out how blockchain can be applied to their business, how the tech can remove third parties and central points of failure! How the tech enables the reduction in transaction fees worldwide allowing for new ways to spread the value created between more people!

Just to name a few:

The energy sector is looking into peer2peer energy market, removing big third party corporations from the mix, bringing the producers and consumers closer together, and bringing the cost down to as low as possible. Not only this but I’ve seen mentioned numerous times, even in the World Energy Council that blockchain might enable micro-investments in energy infrastructures, enabling micro-investments in solar pannels for third world countries!

The gaming industry is looking at how implementing NFTs, game items that run on a blockchain, might enable new sources of revenue through fees, renting, selling, etc… Enjin already had lots of success in some communities where NFTs were implemented, some businesses saw thousands of % of increased revenue! Imagine all the jobs created by this!

The health sector is looking at how medical user data can be monetized to big pharma to bring value to users, to increase the flow of data into research and enable faster deployment of anti-epidemic mechanisms world-wide.

I could go on and on about more issues with the tech, about more issues with the investors and communities, and I could also talk for hours about all the good things that are being developed and that can be improved in the blockchain industry. But let’s leave content for the next time.

Reference: https://steemit.com/technology/@teutonium/blockchain-so-many-issues-but-so-much-innovation

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Lending with cryptocurrency https://steemportugal.com/lending-with-cryptocurrency/?utm_source=rss&utm_medium=rss&utm_campaign=lending-with-cryptocurrency https://steemportugal.com/lending-with-cryptocurrency/#respond Mon, 07 Oct 2019 21:18:01 +0000 http://steemitportugal.com/?p=2189 Banks have been controlling humanity for centuries, ever since the first bank was founded in Italy they took control of our money, our finances! Bankers are usually stereotyped as being rich fat men always wearing a suit and tie, and they are... they are rich, and this has a lot to do with their lending business.

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Banks have been controlling humanity for centuries, ever since the first bank was founded in Italy they took control of our money, our finances! Bankers are usually stereotyped as being rich fat men always wearing a suit and tie, and they are… they are rich, and this has a lot to do with their lending business.

What Banks do at the moment is lending your money, yes, you read that right, YOUR MONEY, that you deposit in the bank, they lend it to people that need it expecting that, with time, those same people will pay their loan plus interest, that interest is then divided between the bank and the depositors…

The issue is that in the current financial system banks keep a large portion of the interest for themselves and almost don’t share any of the profits, some banks only share 5% of their profits! That’s god awful! But everything is about to change!

You can now earn interest on your crypto!

There are many current platforms that allow you to earn interest on your crypto, some of them worse than others, some are not as trustworthy, some of them still need to carve their place in this space, but I’ll quickly mention some…


Nexo.io

Starting with nexo.io, it was my first interest platform and has a cryptocurrency too. An offspring of Certissimo, a bank that first appeared after the 2008 crisis, nexo.io is a platform that allows one to deposit their cryptocurrencies and earn interest on them, it also allows one to take out loans collateralized by their crypto deposits.

If you want to take out a loan you need to have twice the amount of crypto locked up on the platform, if, for any reason, the price of the crypto that is backing up your loan diminishes to the point where your loan isn’t backed up by the asset you have on your platform, your assets are automatically liquidated to pay for the loan.

NEXO, the cryptocurrency, is a security, and it was launched as a security, every few months the platform does a buyback of NEXO with 30% of their profits and distributes it to the NEXO hodlers, the more NEXO you have on the platform and the longer that NEXO was on the platform the more NEXO you will earn. This buyback system allows a compound growth and a token price increase (after the weak hands are shaken out) that I like in my cryptos.

But like all things, nexo.io also has its bad things, lack of team communication, no audits so far, but they say they are going to have one soon, lack of transparency with their assets vs loans…

All-in-all, doing the math, for the buybacks they are doing the token is really undervalued, with the dividend amount they are sharing with NEXO hodlers the market cap should be much higher!


Celsius

This is my favorite, the creator of this amazing platform is Alex Mashinsky, the creator of VOIP(Voice over the internet protocol), the guy that fought against the big corporations that didn’t want to implement Wi-fi in the New York Metro system, even going so far as paying from his own pocket for the things needed.

He likes fighting big corporation and giving the middle finger to big monopolies, and this is what he is doing with Celsius, giving the middle finger to the banks that share almost none of the profits with their depositors! He is doing this with what he calls MOIP (money over the internet protocol) also known as Crypto.

Celsius shares 80% of their revenue with their depositors, which makes sense for the sharing-economy that the world is moving toward. It’s an interest focused platform, their interest rates aren’t stable, they never promise a fixed return, they only promise 80% of their revenue to be shared, so the interest rates change a lot…

They have their own token, CEL, which also allows interest to be earned and even increases the amount of interest earned on the other crypto deposits… you can also get paid all the interest in CEL. So, while nexo.io makes sure to pump the token, Celsius puts the mechanisms on the platform that incentivize the token to pump. They are also very honest and transparent with their loans and assets.

Both Celsius and nexo.io have wallets on Bitgo, each wallet is insured up to 100 Million USD.

Of course, just like nexo.io, they also have issues, but while nexo.io has almost no communication with the community and is very “separated” from the community probably because of their banking background, the Celsius team is very communicative and tries to implement as many systems and mechanics as they can to please the community, so, all issues will probably be fixed in the future.


Binance and BNB

Not much information has been released and I haven’t done enough research into this one, so I’ll keep this short since it is so new and without track record. Binace is going to implement an interest mechanics where people can loan their BNB to margin traders, BNB lenders can earn up to 15% on their BNB.

The news was just released yesterday, and there isn’t enough information about the system, I trust binance and I trust CZ, which increases my confidence in this system, but I’ll need further information to see how the whole system is going to work. Ever since they changed BNB from a fee buyback and burn system to a no buyback system without warning I lost a lot of trust in BNB.


There are some others platforms and cryptos that I haven’t done enough research about, like MCO, compound.finance (which allow decentralized loaning), ETHlend, SALTlending, Blockfi, etc… which might be worth looking at in the future.

To sum it up, lending seems to be increasing in the crypto world, this might be one of the killer apps that we’ve been looking for.. the lending business makes banks billions of dollars worldwide, it’s time we take back some of that power back and earn with it! Even though I have my favorites, diversification is always good, I wouldn’t put all my eggs in one only basket, same with my investments, same with my deposits and same with lending platforms, diversify between the ones you trust and always do your own research.

Reference: https://steemit.com/steemleo/@teutonium/2e5oyl-crypto-lending-the-killer-dapp-of-the-sharing-economy-bnb-nexo-cel

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Blockchain and Hardware https://steemportugal.com/blockchain-and-hardware/?utm_source=rss&utm_medium=rss&utm_campaign=blockchain-and-hardware https://steemportugal.com/blockchain-and-hardware/#respond Sat, 05 Oct 2019 17:55:02 +0000 http://steemitportugal.com/?p=2183 Blockchain, a technology that allows a vast network of computers to do the exact same computation at the same time and reach a consensus.

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Blockchain, a technology that allows a vast network of computers to do the exact same computation at the same time and reach a consensus.

Blockchain, a technology that allows a vast network of computers to do the exact same computation at the same time and reach a consensus. It’s an amazing wonderful technology, a technology that creates trust in a trustless environment, a technology that will remove intermediaries from transactions, ALL transactions. No more storing your data on centralized servers owned by Amazon or Google. No more buying energy from an intermediary, you can go straight to the producer. No more trusting that a product is real, you can verify it on a blockchain! No more having intermediaries raise the price of products, or even worse, not giving what is rightfully owed by the community to the community as all the Social Networks do with the ad revenue and data selling revenue.

Blockchain adoption will make the world a lot better… but first, it requires hardware…

Hardware is just as important as the actual software a blockchain is made off, without good hardware any blockchain will be vastly limited in terms of speed, in terms of power usage, in terms of everything! Without good hardware what people call blockchain technology won’t go anywhere…

I’ve seen some blockchains that release their own specific hardware, their own nodes, I actually like this, it won’t make the blockchain truly permissionless, but something very near it, and at least it will allow very fast transactions even with a good amount of block producers. But not all do this…

Most let the node operators run what they want, the node operators, block validators, are able to choose their own hardware, their own GPUs, their own Disks, their own CPUs, etc… etc… you know what this tells me? Investment opportunity!

How long have you been in crypto? If it is anything less then 1 year you probably won’t remember what I’m about to say, but all the oldies probably remember it… When crypto goes up, some hardware stocks go with cryptos on the moon mission! Nvidia did!

With all the mining hype of 2016-2018, Nvidia stocks went ballistic, an astonishing price increase of 1400%! Something that usually doesn’t happen in the stock market, but it happened. And, from what I wrote, you can probably guess why… the crypto bull market increased the demand for good mining-able GPUs, and with this increase, Nvidia’s stock price went up too… The hardware sector in the stock market is one of the sectors that I think any stock investor should keep an eye on…

People tell me that “Everything has a chip nowadays…” everything? Really? Because I would say that the number of chips and disk space we humans will need in the future will be magnitudes above what we nowadays have… We still need to put chips in clothes, pillows, beds, wardrobes, showers, toilets, houses,etc..! We will need so much more disk space because of the way blockchain stores data, just think of cryptos like SiaCoin where data is divided into thirty parts and stored in thirty different disks with redundancy between them. The number of chips and disk space we are buying now will be nothing compared to what the future will need.

That’s why hardware stocks might be a great portfolio diversifier, especially if you are into crypto… AMD, Nvidia, Intel, Micron Technology Inc, Seagate Technology PLC, IBM, etc…

I’m not very stock market knowledgable, so I leave the research to you guys. I just wanted to remind everyone that hardware stocks and blockchain tech are normally correlated, and from now on, with the adoption that we can see on the horizon, all the hardware companies will be working 24/7 to bring the supply up to the demand.

Reference: https://steemit.com/steemleo/@teutonium/blockchain-and-hardware

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NULS 2.0 — Introducing The World’s Most Adaptive Blockchain https://steemportugal.com/nuls-introducing/?utm_source=rss&utm_medium=rss&utm_campaign=nuls-introducing https://steemportugal.com/nuls-introducing/#respond Sun, 29 Sep 2019 11:51:09 +0000 http://steemitportugal.com/?p=2170 Because NULS 2.0 is at the apex of modular blockchain development, it brings with it many “firsts” for the industry.

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In November of 2018, the NULS team pivoted. Upon realizing that the design and architecture of NULS 1.0 would have limited modularity — despite being a state-of-the-art modular chain with extensive adaptability — it did not accomplish the level of flexibility that the NULS technical team had imagined as the most modular, adaptive blockchain in the world. That is how the design of 2.0 began — with NULSTAR, a bottom layer breakthrough from community developer and leading NULS Technical Community member, Berzeck.

Because NULS 2.0 is at the apex of modular blockchain development, it brings with it many “firsts” for the industry. To begin, for the first time in the industry’s history, developers can build on a chain that doesn’t require their applications to adapt to the design and architecture of the blockchain they are using. NULS 2.0 adapts to the application that the developer is creating. For mass adoption of blockchain — developers should not need to re-tool and they should not have to bother with core blockchain development. This is why NULS 2.0 was created.

Another series of “firsts” that NULS brings to the industry, comes with combining two key factors that help to fast-track blockchain adoption: token issuance and chain-building.

Ethereum made token issuance a reality with ERC-20s via smart contracts. But building on Ethereum requires developers to learn Solidity to create a chain for their applications, etc. and the developmental threshold is very steep, which increases both cost and time of development. So NULS has created a blockchain-in-a-box solution. Six basic modules eliminate the need for developers to learn complex technologies such as cryptology and consensus mechanisms, etc. Your dApp, business system, or any application can be integrated with its own blockchain in under 10 minutes.

For the first time, both chain-building and token issuance can be provided by one, easy-to-use modular platform. ChainBox allows applications to be built into blockchain in just ten minutes, while token issuance has never been more flexible or more appealing than with the SCO Platform, POCM.

POCM (Proof of Credit Mining) is an SCO (Staked Coin Output) Platform that allows projects to use smart-contracts to create SCO nodes. Got NULS? Stake into SCO project nodes and earn their token as reward, while the project earns NULS as reward. Projects can use the NULS rewards to bootstrap and help fund development. Unlike IEOs and ICOs, stakers never risk their principal, and their NULS never leave their wallet.

NULS 2.0 is universally applicable and allows any asset, coin or token to be issued from any other chain or ecosystem. One example is Accuchain — who recently held their AMA with SCO Labs last week. Accuchain is an ERC-20 asset that will conduct an SCO using POCM technology on NULS 2.0. 1% of the total token supply will be issued for the SCO — and the same 1% will be burned as an ERC-20 on the Ethereum side. This allows a new form of “airdroppping” and token distribution, community-building, ecosystem expansion, all while helping projects to earn continuous revenue for costs and expenses of development. Any asset or coin from any blockchain or ecosystem can conduct an SCO using POCM.

In addition to this — POCM and SCOs extend throughout the NULS ecosystem and beyond. Token Network, a project that held their AMA with SCO Labs in September, is building a platform on NULS that will allow e-commerce businesses to tokenize and issue their own assets on the Token Network public chain. POCM allows any side-chain on the Token Network’s platform to conduct an SCO. This means TNT token holders can stake into a project’s node, and earn the project token, while the project earns TNT.

NULS 2.0 is bringing modularity to the blockchain industry, and this is just the beginning! Upcoming features include Chain Factory and NULS Evolution — a way for updates to be implemented that reduces the chance of forking down to zero, without ever minimalizing the security and integrity of decentralization.

TLDR; Check out NULS Core 2.0 Product Features

  • NULSTAR — The bottom layer of NULS 2.0 architecture that provides a very flexible loosely-coupled blockchain modular environment that bypasses technical details to facilitate frictionless development.
  • ChainBox — Create a chain in just ten minutes. Six basic blockchain modules, packaged into one easy set-up allows developers to use blockchain-in-a-box convenience which eliminates the need for blockchain development experience.
  • POCM — A Universal SCO Platform — Issue tokens from any network. Stake into SCO project nodes and earn their token as reward, while the project earns NULS as reward. Projects can use the NULS rewards to bootstrap and help fund development. Unlike IEOs and ICOs, stakers never risk their principal, and their NULS never leave their wallet.
  • NULS Evolution — A way to seamlessly upgrade blockchains that reduces the risk of forking to zero.
  • Cross-Chain — Interoperability features that enables cross-chain interaction of assets in the ecosystem for optimized liquidity and application options.
  • NULS 2.0 Mobile Wallet — The new mobile wallet is developed by NULS Eco-partner Nabox, a service platform for applications in the NULS ecosystem. The mobile wallet supports and integrates asset management, community management, DAPP access, etc.
  • Chain Factory — This upcoming feature provides parallel expansion technology enabling high availability performance. Developers can customize their blockchain by incorporating as much server and software redundancy needed to meet Service Level Agreements (SLAs). Chain Factory allows developers to customize, upgrade, adjust and add features to their blockchain in a way that provides ultimate automated convenience and adaptability.

Reference: https://medium.com/@nuls/nuls-2-0-introducing-the-worlds-most-adaptive-blockchain-e91ad217d4ca

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https://steemportugal.com/nuls-introducing/feed/ 0 NULS 2.0 — Introducing The World’s Most Adaptive Blockchain - Steemit Portugal In November of 2018, the NULS team pivoted. Upon realizing that the design and architecture of NULS 1.0 would have limited modularity — despite being a state-of-the-art modular chain with extensive adaptability — it did not accomplish the level of flexibility that the NULS technical team had imagine nuls 1 2-3