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Introducing scientific rigor in medical research using blockchain technology

Blockchain technology applied to medical research can enhance the credibility of science by creating an immutable timestamp of research results. Blockchain technology, invented by Satoshi Nakamoto in 2008, ensures that transactions entered in a registry cannot be changed over time. As for the cryptocurrency bitcoin (BTC), the result is a monetary system that cannot be manipulated by a centralized government, as it creates a permanent and accurate record of all transactions. The strength of the system comes from the use of a distributed database compared to current monetary systems, which require a centralized database, such as that used by credit card companies and banks. Applying the same technology to medical research increases confidence in the results, because just like bitcoin, transactions (collected scientific data) are constantly archived in an unchanged and unchanging way.
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Exchanging money, as well as conducting medical research, requires a high level of trust. Money in the past has generated this confidence through government regulations and central bank supervision. Medical research has in the past tried to build high levels of trust through peer review conducted by reputable medical journals such as the New England Journal of Medicine. Both methods of generating trust rely on a trusted central authority, or the government, or a medical journal. As such, both methods are highly susceptible to fraud through corruption or the innocent mistakes of the centralized body. This has led to widespread mistrust in medical research. Bitcoin works differently because it creates a method for reading a distributed network based on a mathematical algorithm rather than a centralized organ susceptible to human error.

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Financial transactions require perhaps the highest level of trust. People need to know that all transactions recorded in the register are completely accurate and completely resistant to change in the future. As blockchain technology embedded in bitcoin won this trust, bitcoin has become a widely used value store with a market capitalization of over $ 100 billion. When other cryptocurrencies are considered, the total confidence in blockchain-based financial systems exceeds $ 250 billion. In the same way, health professionals must be able to believe that the data obtained from medical examinations are both completely accurate and completely unchanged. Physicians should be aware that medical research is not plagiarized or fraudulent in any way. Blockchain technology has made bitcoin a reliable global currency. Similarly, blockchain-based medical research will significantly increase confidence in the results and, as a result, improved medical care.

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Forex leverage regulation

The retail currency market has long had significant leverage quotas, but this was recently threatened by FINRA, the largest independent securities regulator in the United States. Following the boom in online retail, many forex brokers offer their clients anywhere from 50/1 to 400/1 leverage on their accounts. FINRA claims that the proposed change will serve to protect investors from excessive market risk.
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However, this proposal suggests that traders are not using leverage properly. The availability of usability is not the equivalent of overuse of positions and this is what FINRA’s proposal fails to recognize; instead, leverage simply allows the trader to exercise precise risk management in relation to the size of its positions. For example, if a trader wants to risk only 1% of his total equity on a position, he will use leverage to determine the amount he is willing to risk for pips based on the amount of their stop loss. The availability of leverage options allows the trader to dynamically adjust the size of his stop so as to adjust to current levels of market volatility, while maintaining a risk for a fixed position, whether he risks 10 pips or 1000 pips.
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Conversely, the lack of such leverage is likely to adversely affect traders who use appropriate risk management. Reducing leverage means that you will have less margin available for active positions, even if you risk the same amount in both scenarios. This means that such traders are more likely to experience a margin requirement by taking a constant positional risk if leverage quotas are to be reduced.
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The most unpleasant part is that FINRA not only wants to limit leverage – they obviously intend to eliminate it in practice. If FINRA simply wanted to impose restrictions on forex leverage at commodity futures levels, this would be much more understandable. However, according to the proposal, forex brokers will only be able to offer 1.5: 1 leverage. Anyone who trades in foreign exchange markets knows that this would effectively put an end to US-based foreign exchange retail, as very few people could trade properly under such a mandate. US-based FCMs will go out of business, and US-based traders will invest their money in supervisory brokers.
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FINRA’s proposal unfortunately appeals to the lowest common denominator: people who exceed their positions with inappropriate stop losses. In this way, they therefore hurt all traders who trade with proper risk management, and simply use leverage as a necessary and responsible tool.
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For anyone who is worried about this, you can rest easy for the moment. As it turns out, fortunately, FINRA does not have a specific regulatory body on the foreign exchange markets; this will increasingly be the domain of both the NFA and the CFTA, whose regulatory capacity is expanding significantly in the currency. Furthermore, it would not be in the interest of the NFA and the CFTA to support this proposal, let alone the apparent inconsistency it would create with currency futures: they work long and hard to gain more control over the internal currency market. If the supervisors moved mainly, they would lose their ability to effectively regulate such activities (not to mention the membership fee income they would receive from the Forex CTA).
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Linux System Administration Training – User Configuration in Etc Skel Directory – Linux Command Training

The “template” files for customization in the / etc / skel directory

IN scaffolding (scaffoldingeton) The directory under / etc contains directories and files that are created during the installation of a Linux distribution (usually).

The directories and files created in / etc / skel depend on the distribution (version) of Linux you are using.
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Tips for learning Linux commands: The Linux user commands, concepts, and configuration information covered here apply to ALL other Linux distributions, including: Ubuntu, Edubuntu, Kubuntu, Slackware, Debian, SUSE, openSUSE, Red Hat, and Fedora.
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How Linux users get shared “template” files in / etc / skel

Each time you create a new Linux user, the skel files are automatically copied to the user’s home directory. The skel directory usually contains hidden Linux configuration files for the bash shell, as well as hidden directories that contain configuration files for some of the Linux software programs that are installed on the system.
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For example, when you create a user named cwest, a directory named cwest is automatically created under / home.
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In addition, all directories and files in / etc / skel are copied to / home / cwest. This process is used to provide users with the default directories and files that they require.

By default, for some Linux distributions, there are only hidden (configuration) directories and files in the skel directory, not “unhidden” directories and files.
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For example, this directory usually contains the .bashrc file used to configure the bash shell and the .kde directory (if using the KDE desktop), which contains the KDE desktop settings.
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If you have other directories and files that you want all users to have, you can place them in the skel directory. In addition to configuration files, you can place data files and even data directory structures that users will typically need in that directory.
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Thinking of investing? Think of a way to bitcoin

What is bitcoin?

If you’re here, you’ve heard of bitcoin. It was one of the most common headlines in the last year or so – as a scheme to get rich quick, the end of finances, the birth of a truly international currency, as the end of the world, or as a technology that has improved the world. But what is bitcoin?
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In short, bitcoin may be the first decentralized money system used for online transactions, but it will probably be useful to dig a little deeper.

We all know, in general, what “money” is and what it is used for. The most significant problem that witnessed the use of money before bitcoin is related to its centralization and control by one entity – the centralized banking system. Bitcoin was invented in 2008/2009 by an unknown creator, nicknamed “Satoshi Nakamoto”, to lead to the decentralization of money globally. The idea is that the currency can be traded internationally without difficulty or fees, checks and balances will be distributed around the globe (and not just in the books of private corporations or governments) and money will become more democratic and equally accessible to all.

How did bitcoin start?

The concept of bitcoin and cryptocurrency in general was created in 2009 by Satoshi, an unknown researcher. The reason for its invention was to solve the problem of centralization in the use of money, which relied on banks and computers, a problem that many computer scientists were not happy with. Achieving decentralization has been unsuccessful since the late 1990s, so when Satoshi published a document in 2008 proposing a solution, he was highly welcomed. Today, bitcoin has become a familiar currency for Internet users and has spawned thousands of “altcoins” (non-bitcoin cryptocurrencies).
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How to make bitcoin?

Bitcoin is made through a process called digging. Just as paper money is made by printing and gold is mined from the ground, bitcoin is created by “digging.” Digging involves solving complex mathematical problems about blocks with the help of computers and adding them to a public book. When I started, a simple processor (like the one in your home computer) was all it took to dig, but the level of difficulty has increased significantly and you will now need specialized hardware, including a high-end graphics processor (GPU), to extract of bitcoin.

How to invest?

First, you need to open an account with a trading platform and create a wallet; You can find some examples by searching Google for a “bitcoin trading platform” – they usually have names that include “coin” or “market”. After joining one of these platforms, click on the assets and then click on crypto to select the currencies you want. There are many indicators in each platform that are quite important and you need to make sure you follow them before investing.

Just buy and hold

Although digging is the safest and in some ways the simplest way to earn bitcoin, there is too much noise, and the cost of electricity and specialized computer hardware makes it inaccessible to most of us. To avoid all this, make it easy for yourself, enter the amount you want from your bank directly and click “buy”, then sit back and watch your investment increase as the price changes. This is called an exchange and takes place on many exchange platforms available today, with the ability to trade between many different fiat currencies (USD, AUD, GBP, etc.) and different crypto coins (Bitcoin, Ethereum, Litecoin, etc.). .

Bitcoin trading

If you are familiar with stocks, bonds or forex exchanges, then you will easily understand crypto trading. There are bitcoin brokers such as e-social trading, FXTM markets.com and many more to choose from. The platforms provide you with bitcoin-fiat or fiat-bitcoin currency pairs, for example BTC-USD means bitcoin trading for US dollars. Follow the price changes to find the perfect pair according to the price changes; platforms provide price among other indicators to give you the right trading tips.

Bitcoin as stocks

There are also organizations set up to allow you to buy shares in companies that invest in bitcoin – these companies trade back and forth, and you just invest in them and wait for your monthly benefits. These companies simply pool digital money from different investors and invest on their behalf.

Why should you invest in bitcoin?

As you can see, investing in bitcoin requires you to have some basic knowledge of the currency, as explained above. As with all investments, this involves risk! The question of whether to invest or not depends entirely on the individual. However, if I have to give advice, I would advise in favor of investing in bitcoin for the reason that bitcoin continues to grow – although there has been a significant period of boom and bust, it is very likely that cryptocurrencies in general will continue to rise in value during the next 10 years. Bitcoin is the largest and most famous of all current cryptocurrencies, so it is a good place to start and the safest bet at the moment. Although it is variable in the short term, I suspect you will find that bitcoin trading is more profitable than most other ventures.

Fear not, China does not ban cryptocurrency

In 2008, following the financial crisis, a document entitled “Bitcoin: Peer-to-Peer Electronic Cash System” was published, detailing the concepts of a payment system. Bitcoin was born. Bitcoin has attracted worldwide attention with the use of blockchain technology and as an alternative to fiat currencies and commodities. Named the next best technology after the Internet, blockchain offers solutions to problems we haven’t been able to address or ignore in the last few decades. I will not go into the technical aspect of this, but here are some articles and videos that I recommend:

How bitcoin works under the hood

Gentle introduction to blockchain technology

Have you ever wondered how bitcoin (and other cryptocurrencies) actually work?

Fast forward to today, February 5, the Chinese authorities have just introduced a new set of regulations banning cryptocurrencies. The Chinese government did so last year, but many have been bypassed through foreign exchanges. He has now used China’s all-powerful Great Wall of Defense to block access to foreign exchanges in an attempt to prevent its citizens from making any cryptocurrency transactions.

To learn more about the Chinese government’s position, let’s go back a few years to 2013, when bitcoin was gaining popularity among Chinese citizens and prices were rising. Concerned about price volatility and speculation, the People’s Bank of China and five other government ministries issued a formal statement in December 2013 entitled “Bitcoin Financial Risk Prevention Notice” (link in Mandarin). Several points were highlighted:

1. Due to various factors such as limited supply, anonymity and the lack of a centralized issuer, bitcoin is not an official currency but a virtual commodity that cannot be used on the open market.

2. All banks and financial institutions are not allowed to offer financial services related to bitcoin or to engage in commercial activities related to bitcoin.

3. All companies and websites that offer bitcoin-related services must register with the necessary government ministries.

4. Due to the anonymity and cross-border characteristics of bitcoin, organizations providing bitcoin-related services should apply preventive measures such as KYC to prevent money laundering. Any suspicious activity, including fraud, gambling and money laundering, must be reported to the authorities.

5. Organizations providing bitcoin-related services must educate the public about bitcoin and the technology behind it and not mislead the public with misinformation.

In layman’s terms, bitcoin is categorized as a virtual commodity (eg in-game credits) that can be bought or sold in its original form and not exchanged for fiat currency. It cannot be defined as money – something that serves as a medium of exchange, a unit of account and a means of storing value.

Although the notice is from 2013, it is still relevant to the Chinese government’s position on bitcoin and, as mentioned, there is no indication of a ban on bitcoin and cryptocurrency. Rather, regulation and education about bitcoin and blockchain will play a role in the Chinese crypto market.

A similar notice was issued in January 2017, reiterating that bitcoin is a virtual commodity, not a currency. In September 2017, the initial coin supply boom (ICO) led to the publication of a separate notice entitled “Notice on the prevention of financial risk from issued tokens”. Soon after, ICOs were banned and Chinese stock exchanges were investigated and eventually closed. (The back point is 20/20, they made the right decision to ban ICO and stop pointless gambling). Another blow was dealt to the cryptocurrency community in China in January 2018, when mining operations faced severe repression, citing excessive electricity consumption.

Although there is no official explanation for the repression against cryptocurrencies, capital controls, illegal activities and the protection of citizens from financial risk are some of the main reasons cited by experts. In fact, Chinese regulators have introduced tighter controls, such as a cap on foreign withdrawals and regulation of foreign direct investment, to curb capital outflows and secure domestic investment. The anonymity and ease of cross-border transactions have also made cryptocurrency a favorite means of money laundering and fraud.

Since 2011, China has played a crucial role in the rapid rise and fall of bitcoin. At its peak, China accounted for more than 95% of global bitcoin trade and three-quarters of mining operations. After regulators intervened to control trade and extraction operations, China’s dominance shrank significantly in exchange for stability.

With countries like Korea and India following suit in the crackdown, the future of the cryptocurrency is now being overshadowed. (I will repeat my opinion here: the parties regulate the cryptocurrency, not ban it). No doubt we will see more nations join in the coming months to take over the turbulent crypto market. Indeed, an order was long overdue. In the last year, cryptocurrencies have experienced unprecedented price volatility and ICOs occur literally every other day. In 2017, the total market capitalization rose from $ 18 billion in January to the all-time high of $ 828 billion.

However, the Chinese community is in a surprisingly good mood despite the repression. Online and offline communities are thriving (I have personally attended many events and visited some of the companies) and blockchain startups are springing up all over China.

Large blockchain companies such as NEO, QTUM and VeChain are attracting a lot of attention in the country. Startups like Nebulas, High Performance Blockchain (HPB) and Bibox are also gaining in popularity. Even giants like Alibaba and Tencent are also exploring blockchain capabilities to improve their platform. The list goes on and on, but you understand me; will be HUGGEE!

The Chinese government has also embraced blockchain technology and stepped up its efforts in recent years to support the creation of a blockchain ecosystem.

In China’s 13th Five-Year Plan (2016-2020), he called for the development of promising technologies, including blockchain and artificial intelligence. He also plans to step up research into the application of fintech in regulation, cloud computing and big data. Even the National Bank of China is also testing a prototype digital currency based on a blockchain; However, since it is likely to be a centralized digital currency with some encryption technology, it remains to be seen whether it will be accepted by Chinese citizens.

The launch of the Trusted Blockchain Open Lab, as well as the Chinese Forum on Blockchain Technology and Industry Development by the Ministry of Industry and Information Technology, are some of the other Chinese government initiatives to support blockchain development in China.

A recent report entitled “China Blockchain Development Report 2018” from the China Blockchain Research Center details the development of the blockchain industry in China in 2017, including the various measures taken to regulate cryptocurrency in China. the mainland. In a separate section, the report highlighted the optimistic outlook of the blockchain industry and the huge attention it received from VC and the Chinese government in 2017.

In summary, the Chinese government has shown a positive attitude towards blockchain technology despite its application to cryptocurrencies and digging operations. China wants to control the cryptocurrency, and China will gain control. Repeated regulations by regulators were aimed at protecting their citizens from the financial risk of cryptocurrencies and limiting capital outflows. For now, it is legal for Chinese citizens to hold cryptocurrencies, but they are not allowed to make any form of transaction; hence the ban on exchange. As the market stabilizes in the coming months (or years), we will undoubtedly see a revival of the Chinese crypto market. Blockchain and cryptocurrency come hand in hand (except for the private chain, where the token is not needed). That way, countries can’t ban cryptocurrency without banning great technology blockchain!

One thing we can all agree on is that the blockchain is still in its infancy. Many exciting developments await us and right now is definitely the best time to lay the foundations of a world-activated blockchain.

Last but not least, HODL!

US investors are safe from the nickel boom and collapse

There is good news on the horizon for the average American retail investor. A bubble is coming and one day Joe Investor will miss the boom and the crash. Two main stories create the potential for a short-term meteoric rise in prices, only to collapse rapidly as macroeconomic forces and political problems are resolved. In a world full of financial instruments, global exchanges, and products ranging from meteorological derivatives to technology indices to silkworm futures, basic metallic nickel is inaccessible to the average American retailer.

Ten years ago, nickel was traded at about $ 11,200 a tonne on the London Metal Exchange (LME). Currently, the market is nearly $ 18,500 per ton. The 65% rise in prices is an almost perfect correlation with the global GDP growth of the five largest economies in the world over the same period. In general, this makes sense, as nickel is used in nearly 3,000 alloys that we come into contact with on a daily basis. The rapid rise in nickel prices this year is not linked to global growth, but the collapse of nickel after a jump will be directly related to the slowdown in world GDP.

There are two main factors that are currently pushing nickel prices beyond their core value. The first issue was no surprise. Indonesia, the world’s second-largest nickel producer, imposed restrictions on crude ore exports in January. The law is designed to encourage the processing of Indonesian ore and increase domestic industrial development. Some concessions have been made to companies with new in-house projects that are already in the works, such as Freeport-McMoRan, but even their production is likely to be halved, according to their earnings report for the first quarter. After all, the world may see a drop in supplies of more than 8% in 2014 due to the introduction of Indonesian policy.

The second factor that is currently pushing nickel prices above their inherent value is the escalation of the political crisis in Ukraine. Russia produces about 16% of the world’s nickel. In addition, it produces nickel with a significant advantage over Indonesia due to the geological formations in which it is stored. Norilsk Nickel dominates nickel production in Russia. Norilsk Nickel, like Gazprom, is a quasi-governmental industrial group that will be shortlisted for the next round of NATO sanctions, as well as direct US sanctions targeting individual Russian businesses and owners, especially through banking and tax controls.

These short-term supply concerns are in the face of the macroeconomic picture, which continues to forecast a global slowdown. The Organization for Economic Co-operation and Development recently published its forecasts calling for global GDP to fall from 3.6% to 3.4%. This is the second projected decline in six months. Highlights include a drop in Chinese GDP from 8.2% to 7.4%. This factor cannot be minimized, given that the fivefold growth of the Chinese economy over the last 10 years is solely responsible for the 50% increase in nickel prices over the same period. Ironically, Chinese production itself will be a contributing factor to the decline in the metal, as they are expected to increase production by nearly 50%, contributing nearly 500,000 tons of total global production in 2014 of 1.85 million tons. Finally, their increasing production efficiency will allow them to earn even if nickel falls below $ 12,000 per tonne.

Futures markets are based on the delivery of a product at a given point in time at a price agreed between the buyer and seller of the product at the beginning of the contract. Natural goods also have storage costs along with insurance to cover their storage value. This creates a price structure in which the longest delivery times have the highest prices due to the associated fees. This pricing structure is called backward. The opposite is true of contango. Contango occurs when the short-term price is higher than the long-term price. This price structure represents a short-term supply shortage.

The nickel market is currently in varying degrees of contango according to LME charts. Nickel for current delivery is currently trading around $ 18,450 per tonne, and nickel for delivery after three months is trading slightly higher at $ 18,520. Meanwhile, nickel for delivery in December was $ 18.205, and nickel for delivery in December 2015 was up to $ 17.805. These prices make it easy to see that the short-term jump in prices does not reflect the market prospects for the bigger picture. In addition, the lack of retail access for US investors to LME makes it very difficult to trade on their stock exchange.

We have seen that supply disruptions create similar situations here in the United States. Usually, the excess of prices between the intrinsic value and the increased market price is fueled by media speculation, which eventually shifts to the individual retail investor in Main St. USA. Unfortunately, we have seen again and again when retailers pick up on the news, hoping to make a quick buck just to sink the ship once the market turns. These patterns are easily noticeable in the US futures markets due to the report on traders’ commitments published weekly by the Commodity Futures Trading Commission. This report tracks the actual purchases and sales of individual groups of traders – trading, index and small speculators. We follow these reports religiously and use them to inform us about the current prospects of the core industry in their respective markets. At least this time, the nickel bubble will not be filled with American money for a summer vacation.

Preparing for the world of cryptocurrency: an edition for China

In the last year, the cryptocurrency market has suffered a series of severe blows from the Chinese government. The market took the hit like a warrior, but the combinations affected many cryptocurrency investors. Poor market performance in 2018 pales in comparison to its stellar thousand-percent profits in 2017.

What happened?

Since 2013, the Chinese government has taken steps to regulate the cryptocurrency, but nothing compared to what was imposed in 2017 (See this article for a detailed analysis of the official notice issued by the Chinese government)

2017 was a significant year for the cryptocurrency market with all the attention and growth it achieved. Extreme price volatility has forced the Central Bank to take more extreme measures, including a ban on initial coin offering (ICO) and restrictions on domestic cryptocurrency exchanges. Shortly afterwards, mines in China were forced to close, citing excessive electricity consumption. Many stock exchanges and factories moved abroad to evade regulation, but remained accessible to Chinese investors. However, they still have not managed to escape the claws of the Chinese dragon.

In a recent series of government-led efforts to monitor and ban cryptocurrency trading among Chinese investors, China has expanded its Eagle Eye to monitor foreign cryptocurrency exchanges. Companies and bank accounts suspected of carrying out transactions with foreign cryptocurrencies and related activities are subject to measures ranging from limits on withdrawal limits to freezing accounts. There are even constant rumors among the Chinese community about more extreme measures that need to be imposed on foreign platforms that allow trade between Chinese investors.

“As for whether there will be further regulatory measures, we will have to wait for orders from the higher authorities. Excerpts from an interview with the team leader of the Chinese Public Information Network Security Oversight Agency at the Ministry of Public Security, February 28

WHY WHY WHY !?

Imagine that your child is investing their savings to invest in a digital product (in this case a cryptocurrency) that has no way to verify its authenticity and value. He or she may get lucky and get rich or lose everything when the crypto-bubble bursts. Now scale this up to millions of Chinese citizens and we are talking about billions of Chinese yuan.

The market is full of scams and pointless ICOs. (I’m sure you’ve heard news of people sending coins to random addresses with the promise of doubling their investment and ICOs that just don’t make sense). Many unaware investors are into this about money and would be less interested in the technology and innovation behind it. The value of many cryptocurrencies is derived from market speculation. During the crypto boom in 2017, participate in any ICO with a well-known advisor on board, a promising team or decent advertising and you are guaranteed at least 3 times your investment.

The lack of understanding of the company and the technology behind it, combined with the spread of ICO, is a recipe for disaster. Central bank members report that almost 90% of ICOs are fraudulent or involve illegal fundraising. In my opinion, the Chinese government wants to ensure that the cryptocurrency remains “controllable” and is not too large to fail in the Chinese community. China is taking the right steps toward a safer, more regulated world of cryptocurrencies, albeit aggressive and controversial. In fact, this may be the best move the country has taken in decades.

Will China issue an ultimatum and make cryptocurrency illegal? I strongly doubt it, as it is quite pointless to do so. Financial institutions are currently prohibited from holding any crypto assets, while individuals are allowed but prohibited from engaging in any form of trading.

State cryptocurrency exchange?

At the annual “Two Sessions” (named because two major parties, the National People’s Congress (NPC) and the National Committee of the Chinese People’s Political Consultative Conference (CPCC), participate in a forum held in the first week of March, leaders gather to to discuss the latest issues and make the necessary changes to the law.

Wang Penji, a member of the NPCC, is working on the prospects of a state-owned digital asset trading platform, as well as initiating blockchain and cryptocurrency educational projects in China. However, the proposed platform will require a verified account to allow trading.

“With the establishment of related regulations and the cooperation of the People’s Bank of China (PBoC) and the China Securities Regulatory Commission (CSRC), a regulated and effective cryptocurrency exchange platform will serve as an official way for companies to raise funds (through ICO) and investors to hold their digital assets and achieve capital appreciation. ”Excerpts from Wang Pengjie’s presentation during the two sessions.

The march to the blockchain nation

Governments and central banks around the world are struggling to cope with the growing popularity of cryptocurrencies; but one thing is for sure, everyone has embraced the blockchain.

Despite the repression against cryptocurrencies, the blockchain is gaining popularity and acceptance at various levels. The Chinese government supports blockchain initiatives and embraces the technology. In fact, the People’s Bank of China (PBoC) is working on a digital currency and has made fraudulent transactions with some of the country’s commercial banks. It has not yet been confirmed whether the digital currency will be decentralized and will offer cryptocurrency features such as anonymity and immutability. It will not be a surprise if it turns out to be just a digital Chinese yuan, given that anonymity is the last thing China wants in its country. However, created as a close substitute for the Chinese yuan, the digital currency will be subject to existing monetary policies and laws.

Governor of the National Bank of China Zhou Xiaochuan. Source: CNBC

“Many cryptocurrencies have seen explosive growth that could have a significant negative impact on consumers and retail investors. Interview with Zhou Xiaochuan on Friday, March 9.

In a media appearance on Friday, March 9, the governor of the People’s Bank of China, Zhou Xiaochuan, criticized cryptocurrency projects that used the crypto-boom to profit and fuel market speculation. He also noted that the development of the digital currency is “technologically inevitable”

At the regional level, many Chinese cities are running blockchain initiatives to promote growth in their region. Hangzhou, known for being Alibaba’s headquarters, has announced blockchain technology as one of the city’s top priorities in 2018. The local government in Chengdu has also been asked to build an incubation center to encourage the adoption of blockchain technology in financial services. of the city.

Local conglomerates such as Tencent and Alibaba have also formed partnerships with blockchain companies or initiated projects themselves. Blockchain companies such as VeChain have also provided numerous partnerships with Chinese companies to improve the transparency of the supply chain in China.

All the evidence points to the fact that China works for a blockchain nation. China has always had an open mentality to emerging technologies such as mobile payments and artificial intelligence. From now on, there is no doubt that China will be the first country with an activated blockchain. Will we see the Chinese government back down and allow its citizens to trade again? Probably when the market is mature and less volatile, but definitely not in 2018.

The crypto show of the Wild West continues

Here’s a question that often arises: How do I choose which cryptocurrency to invest in – aren’t they all the same?

There is no doubt that bitcoin has taken the lion’s share of the cryptocurrency (CC) market, and this is largely due to its fame. This phenomenon is very similar to what happens in national politics around the world, where a candidate captures the majority of votes based on FAME, rather than some proven ability or qualifications to run a nation. Bitcoin is the pioneer in this market space and continues to collect almost all titles on the market. This FAME does not mean that it is ideal for work and it is quite well known that bitcoin has limitations and problems that need to be solved, but in the world of bitcoin there is disagreement on how best to solve the problems. As the problems increase, there is a constant opportunity for developers to initiate new coins that deal with specific situations and thus differ from approximately 1,300 other coins in this market space. Let’s look at two bitcoin rivals and explore how they differ from bitcoin and from each other:

Ethereum (ETH) – The Ethereum coin is known as ETHER. The main difference from Bitcoin is that Ethereum uses “smart contracts”, which are objects that hold accounts in the Ethereum blockchain. Smart contracts are defined by their creators and they can interact with other contracts, make decisions, store data and send ETHER to others. The performance and services they offer are provided by the Ethereum network, all of which is beyond what bitcoin or any other blockchain network can do. Smart contracts can act as your stand-alone agent, obeying your instructions and rules for spending currency and initiating other transactions on the Ethereum network.

Ripple (XRP) – This coin and the Ripple network also have unique features that make it much more than just a digital currency like bitcoin. Ripple has developed the Ripple Transaction Protocol (RTXP), a powerful financial instrument that allows exchanges on the Ripple network to transfer funds quickly and efficiently. The basic idea is to put money in “gateways”, where only those who know the password can unlock the funds. For financial institutions, this opens up huge opportunities, as it simplifies cross-border payments, reduces costs and provides transparency and security. All this is done with creative and intelligent use of blockchain technology.

The mainstream media cover this market with news almost every day, but there is a small depth in their stories … they are mostly just dramatic headlines.

The show of the Wild West continues …

The selected 5 shares for crypto / blockchain are on average up 109% from 11/17 December. The wild swings continue with daily spins. Yesterday we had the last South Korea and China trying to bring down the boom in cryptocurrencies.

On Thursday, South Korean Justice Minister Park Sang-ki sent a temporary drop in global bitcoin prices and virtual coin markets in a turmoil as he said regulators were drafting legislation to ban cryptocurrency trading. Later that day, South Korea’s Ministry of Strategy and Finance, one of the main member agencies of the South Korean government’s cryptocurrency regulation task force, came out and said their department he does not agree with the premature statement of the Ministry of Justice for a potential ban on cryptocurrency trading.

While the South Korean government says cryptocurrency trading is nothing more than gambling and worries that the industry will leave many citizens in poor houses, their real concern is the loss of tax revenue. This is the same concern that every government has.

China has become one of the world’s largest sources of cryptocurrency digging, but it is now rumored that the government is seeking to regulate the electricity used by computers to dig. Over 80% of the electricity for bitcoin mining today comes from China. By excluding miners, the government would make it difficult for bitcoin users to verify transactions. Mining operations will be relocated, but China is particularly attractive due to very low electricity and land costs. If China follows this threat, there will be a temporary loss of digging capacity, which will lead bitcoin users to see longer timers and higher transaction verification costs.

This wild journey will continue and like the internet boom, we will see some big winners and eventually some big losers. Also, like the internet boom or the uranium boom, those who enter earlier will prosper, while mass investors always show up at the end, buying on top.

Stay on the line!

How to make your own cryptocurrency in 4 easy steps

Okay, so cryptocurrency this, bitcoin that!

As long as there was so much buzz noise created by virtual currencies that the internet was overloaded with information on how you could make more money by investing in those currencies. But have you ever wondered how cool it would be if you could create your own cryptocurrency?

I never thought about that, did I? It’s time to think, because in this post we will provide you with a four-step guide to creating your own cryptocurrency. Read the post and then see if you can do it yourself or not!

Step 1 – Community
No, you don’t have to build a community like you do when you plan to run social media. Here the game is a little different. You need to find a community of people who you think would buy your currency.

Once you identify a community, it becomes easier for you to take care of their needs, and therefore you can work to build a stable cryptocurrency instead of doing what you want to achieve.

Remember that you are not here to be part of the spectator sport – you are in it to win it. And having a community of people who would like to invest in your currency is the best way to do it!

Step 2 – Code
The second important step is coding. You don’t have to be a master coder to create your own cryptocurrency. There are many open source codes available that you can use.

You can even go ahead and hire professionals who can do the work for you. But when coding, remember one thing – explicit copying won’t get you anywhere.

You need to bring some uniqueness to your currency to distinguish it from those that already exist. It must be innovative enough to create waves in the market. This is why just copying the code is not enough to be on top of the cryptocurrency game.

Step 3 – Miners
The third and most important step in the process is to attract some miners who will actually dig up your cryptocurrency.

This means that you need to have a certain set of people connected to you who can actually spread the information about your currency in the market. You need to have people who can raise awareness about your currency.

This will give you an advantage. And as they say – well started is half done; miners can ultimately lay the groundwork for a successful journey for your cryptocurrency in ever-increasing competition.

Step 4 – Marketing
The last thing you need to do as part of the work here is to contact merchants who will eventually trade the virtual coins you have built.

In simpler words, you need to market these coins on the battlefield, where real people would actually be interested in investing in them. And this is by no means an easy feat.

You need to gain their trust by telling them that you have something worth offering.

How can you get started with it? The best way to market your coins initially is to identify the target audience that knows what a cryptocurrency is.

After all, there’s no point in trying to sell your stuff to people who don’t even know what a cryptocurrency is.

Conclusion

So, you can see that building a successful cryptocurrency is more about being aware of market trends and less about being a hardcore technician or a cutting-edge coder.

If you have this consciousness in you, then it is time to flourish while the sun shines in the niche of cryptocurrency. Continue and plan to build your own cryptocurrency by following these simple steps and see how it turns out for you!

The stages of market mania

What is mania? It is defined as a mental illness characterized by great excitement, euphoria, delusions and overactivity. When investing, this is expressed in investment decisions driven by fear and greed, without being mitigated by analysis, reason or balance between the results of risk and rewards. Mania usually goes hand in hand with the development of the product business, but time can sometimes go awry.

The technology.com boom of the late 1990s and today’s cryptocurrency boom are two examples of how a mania works in real time. These two events will be highlighted with each stage in this article.

Stage of the idea

The first stage of the mania starts with a great idea. The idea is not yet known to many people, but the potential for profit is huge. This usually translates to unlimited profit, as “something like this has never been done before.” The Internet was one such case. People using paper systems at the time were skeptical, “How can the Internet replace such a well-known and established system?” The backbone of the idea is beginning to take shape. This has become the modems, servers, software and websites needed to turn the idea into something tangible. Investments in the idea stage start weakly and are made by people “familiar”. In this case, it could be the visionaries and the people working on the project.

In the world of cryptocurrencies, the same question is asked: How can part of the crypto code replace our monetary system, contractual system and payment systems?

Opportunities

The first websites were rough, limited, slow and annoying. Skeptics would look at the words “information superhighway” that the visionaries uttered and said “how can this really be so useful?” The forgotten element here is that ideas start at their worst and then develop into something better and better. This sometimes happens due to better technology, larger scale and cheaper costs, better applications for the product in question or more product familiarity combined with great marketing. As for the investment side, early consumers are getting involved, but there is still no euphoria and astronomical return. In some cases, the investment has yielded a decent return, but not enough to encourage the masses to get involved. This is analogous to the slow internet connections of the 90s, the collapse of Internet sites or inaccurate information in search engines. In the world of cryptocurrencies, this is reflected in the high cost of digging coins, slow transaction times, and hacking or stealing accounts.

Acceleration

It’s starting to turn out that this internet and “.com” is the hottest new thing. The products and the tangibility are constructed, but due to the huge scale, the cost and time spent would be huge before everyone uses them. The investment aspect of the equation is beginning to outpace business development as markets discount business potential with the cost of investment. The euphoria began to materialize, but only among the first adoptive parents. This is happening in the world of cryptocurrencies with the explosion of new “altcoins” and the big media press that the space is receiving.

The euphoria

This stage is dominated by the parabolic returns and the potential that the internet offers. I don’t think much about implementation or problems, because “the return is huge and I don’t want to miss it.” The words “irrational abundance” and “mania” are beginning to become common as people buy out of sheer greed. Aggravating risks and negativity and largely ignored. Symptoms of mania include: Any company that has.com in its name is hot, the analysis is thrown out the window in favor of optics, investment knowledge becomes less and less obvious among new entrants, expectations for 10 or 100 luggage returns are common and few people actually know how the product works or doesn’t work. This took place in the world of cryptocurrencies with stellar returns since the end of 2017 and incidents with shares of companies that jumped hundreds of percentage points by using a “blockchain” in their name. There are also “takeover offers” in which fictitious companies that are listed on the stock exchange but are dormant change their names to something involving a blockchain, and the shares are suddenly actively traded.

The collapse and the burning

The business scene for the new product is changing, but not as fast as the investment scene. Eventually, a change in thinking occurs and a huge sale begins. Volatility is huge and many of the “weak hands” have been wiped out of the market. Suddenly, analysis is used again to justify that these companies have no value or are “overvalued.” Fear is spreading and prices are accelerating downwards. Companies that have no profits and that survive with noise and future prospects are blown away. Incidents of fraud and fraud that are increasing to take advantage of greed have been uncovered, causing more fear and a sell-off of securities. Businesses that have the money are quietly investing in the new product, but the pace of progress is slowing down because the new product is an ‘ugly word’ unless profits are convincingly demonstrated. This is starting to happen in the world of cryptocurrencies with the folding of credit schemes using cryptocurrencies and the more frequent cases of coin theft. Some of the marginal coins decrease in value due to their speculative nature.

Survivors

At this stage, the investment landscape is charred with stories of losses and bad experiences. Meanwhile, the great idea is becoming tangible and for the business that uses it, it’s a boom. Begins to be applied in daily activities. The product is starting to become the standard and visionaries are quoted as saying that the “information superhighway” is real. The average consumer notices an improvement in the product and he starts mass acceptance. Businesses that have had a real profit strategy get hit during the collapse and burnout phase, but if they have the money to survive, they get to the next wave. This has not yet happened in the world of cryptocurrencies. The expected survivors are those who have a tangible business case and corporate support – but it remains to be seen which companies and coins this will be.

The next wave – Business is catching up

At this stage, the new product is standard and the profits become obvious. The business case is now based on profits and scale, not on the idea. A second wave of investment emerges, starting with these survivors and extending to another early-stage mania. The next stage is characterized by companies for social media, search engines and online shopping, which are derivatives of the original product – the Internet.

The conclusion

Mania works on a pattern that manifests itself in a similar way over time. Once one recognizes the stages and thought process of each, it becomes easier to understand what is happening and investment decisions become clearer.