fact or fiction
Is it fact or merely fiction? Fact or Fiction explores the myths and beliefs we hold about cyber safety, artificial intelligence, dystopian futures and our everyday gadgets.
Prepping for a Cryptocurrency World: China Edition
The market's lackluster performance in 2018 pales in comparison to its stellar thousand-percent gains in 2017. What has happened? Since 2013, the Chinese government has taken measures to regulate cryptocurrency, but nothing compared to what was enforced in 2017. (See this article for a detailed analysis of the Chinese government's official statement) 2017 was a great year for the cryptocurrency market to take notice and grow. Extreme price volatility has forced central banks to take more extreme measures, including banning initial coin offerings (IOS) and cracking down on domestic cryptocurrency exchanges. Shortly thereafter, mining factories in China were forced to close due to excessive power consumption. Many exchanges and factories were moved overseas to avoid regulation, but remained open to Chinese investors. In a recent series of government-led efforts to monitor and ban cryptocurrency trading among Chinese investors, China has deployed its "Eagle Eye" to monitor foreign cryptocurrency exchanges. Expanded. Businesses and bank accounts suspected of conducting transactions or related activities with foreign virtual currency exchanges are subject to measures ranging from restrictions on withdrawal limits to freezing of accounts. Rumors persist in the Chinese community that more extreme measures will be implemented on foreign platforms that allow trading between Chinese investors. " If there are further regulatory actions, we must await orders from higher authorities. " WHY!? Imagine investing your savings in a digital product (in this case, cryptocurrencies) that cannot be verified. If the crypto bubble bursts, he or she could get luck or lose it. Translate this to millions of Chinese citizens, and you're talking billions of Chinese yuan. The market is flooded with scams and pointless IOS. (I'm sure you've heard of someone sending coins to random addresses with the promise of doubling his investment, or doing meaningless IOS). Many inexperienced investors invest money and don't really care about the technology and innovation behind it. The value of many cryptocurrencies is derived from market speculation. Joining his ICO, which includes either a well-known advisor, a promising team, or decent publicity during the crypto boom of 2017, guarantees at least a 3x increase in your investment. The lack of understanding of the company and the technology behind it, combined with the proliferation of Icon, is a recipe for disaster. Central bank members report that nearly 90% of Icons are fraudulent or involve illegal fundraising. In my opinion, the Chinese government wants cryptocurrencies to remain "manageable" and not grow to the point of failure within the Chinese community. China is taking aggressive, controversial but correct steps towards a safer and more regulated cryptocurrency world. In fact, it may be the best move the country has taken in decades. Will China issue an ultimatum and outlaw cryptocurrencies? I highly doubt it, as it would be rather pointless to do so. While financial institutions are currently prohibited from holding crypto assets, individuals can hold them but are not permitted to engage in any form of trading. State-run virtual currency exchange? He got this name because his two major political parties participate in the annual "Two Sessions" (the National People's Congress (NPC) and the National Committee of the Chinese People's Political Consultative Conference (CPC)). Rice field. In March, heads of state and governments meet to discuss current issues and make necessary legal changes. NPCC member Wang Engine explored the prospects of a state-owned digital asset trading platform and launched a blockchain and cryptocurrency education project in China. However, the proposed platform would require a verified account to allow trading. " With the introduction of relevant regulations and cooperation between the People's Bank of China (BOC) and the China Securities Regulatory Commission (CSRC), a regulated and efficient cryptocurrency exchange platform will become a formal platform for companies to raise funds. (excerpt from Wang Engine's presentation at Two Sessions) But one thing is for sure, everyone is embracing blockchain Despite the crackdown on cryptocurrencies, the Chinese government supports blockchain initiatives and adopted the technology. In fact, the People's Bank of China (BOC) is working on digital currencies and conducting fake transactions with some of China's commercial banks. It is yet to be confirmed whether the digital currency will be decentralized and offer cryptocurrency features such as anonymity and immutability. Anonymity is something China does not want in its own country, so that is just the digital yuan. However, any digital currency created as an alternative to the Chinese yuan is subject to existing monetary policies and laws. People's Bank of China Governor, Zhou Xiaochuan. Source: CNBC" Many cryptocurrencies are experiencing explosive growth, which could have a huge negative impact on consumers and individual investors. We give people the illusion of getting rich overnight. " I don't like products that take advantage of the huge opportunities of speculation (cryptocurrency). " Excerpt from an interview with Zhou Sichuan enduring a media appearance on the People's Bank of China, Zhou Xiaoguang, president, criticized cryptocurrency projects that are taking advantage of the cryptocurrency boom to make money and fuel market speculation, noting that the development of digital currencies is "technically inevitable". Hangzhou, known as Alibaba's headquarters, has listed blockchain technology as one of the city's top priorities for 2018. Chengdu's local government is also proposed to build an incubation center to promote the adoption of blockchain technology in the city's financial services. Local companies such as Tencent and Alibaba are also partnering with blockchain companies or starting their own projects. Blockchain companies like Chains have formed several partnerships with Chinese companies to improve the transparency of their Chinese supply chain. All indications are that China is working towards becoming a blockchain nation. China has always been open to new technologies such as mobile payments and artificial intelligence. Going forward, China will undoubtedly become the first blockchain-enabled country. Will the Chinese government back down and allow its citizens to trade again? Perhaps when the market matures and becomes less volatile, but definitely in 2018. I am currently a student studying in Shanghai. As a tech enthusiast, I am fascinated by the Chinese tech scene.
By Bhagirath Roy3 years ago in 01
Things That Look Positive for Cryptocurrencies
There have been many activities in the market that have turned the time for the better. With the right analysis and the right amount of optimism, anyone who invests in the crypto market can make millions of dollars out of it. The cryptocurrency market will survive for the long term. In this article, we will introduce five positive factors that can drive further innovation and market value in cryptocurrencies.
By Bhagirath Roy3 years ago in 01
Why Should You Trade in Cryptocurrency?
Decrypting Cryptocurrencies We understand that crypto is hidden and currency is a medium of exchange. This is the form of currency used in blockchains created and stored. This is done using cryptographic technology that controls the creation and verification of trading currencies. Bitcoin was the first cryptocurrency to exist. Cryptocurrency is just part of the process of a virtual database running in a virtual world. No real person can be identified here. Also, there is no centralized body regulating cryptocurrency trading. This currency is equivalent to hard gold held by humans, and its value increases exponentially. The electronic system set up by Satoshi is a decentralized system in which only miners have the right to make changes by confirming initiated transactions. They are the only human touch providers in the system. Cryptocurrency counterfeiting is impossible as the whole system is based on hardcore math and crypto puzzles. Only those who can solve these puzzles can make changes to the database, which is nearly impossible. Once a transaction is confirmed, it becomes part of the database or blockchain and cannot be undone. A cryptocurrency is nothing but a digital currency created using coding technology. It is based on a peer-to-peer control system. So let's figure out how to profit from trading in this market. Cannot be reversed or counterfeited: Many can argue that transactions made cannot be reversed, but the best thing about cryptocurrencies is that transactions are confirmed once. . A new block is added to the blockchain, making it impossible to forge transactions. You become the owner of this block. Online Trading: Not only does this allow you to trade anywhere in the world, it also speeds up the processing of your transactions. Unlike real-time where a third party must be involved to buy a house or gold or take out a loan, with cryptocurrencies all you need is a computer and a potential buyer or seller. The concept is simple, fast, and full of ROI prospects. Low fees per transaction : Miners charge little to no fees during transactions, as they are handled by the network. Accessibility: The concept is so convenient that anyone with access to a smartphone or laptop can access and trade the cryptocurrency market anytime, anywhere. This accessibility makes it even more advantageous. Many countries, such as Kenya, have adopted his Mesa system because the ROI is laudable. This has enabled a Bitcoin device that allows one in three Kenyan girlfriends to carry a Bitcoin wallet. Cryptocurrencies are undoubtedly a revolutionary concept and will grow rapidly in the coming years. At the same time, the concept is somewhat vague and new to most people. We bring you cryptocurrency news to help you understand how it all works. This will give you information about all types of cryptocurrencies that dominate the market, including Bitcoin news. Go ahead and enlighten me a bit more on what this whole concept is and how it can help you. Why Day Trading Crypto? Is to make a profit. Cryptocurrency prices are more volatile than any other asset class, and this presents an opportunity for traders with market knowledge. As long as you have a solid crypto day trading strategy and can analyze trends, the crypto market could be in your favor. Day trading cryptocurrencies is also a great short-term opportunity. Instead of buying, holding, or taking a long position, you can trade at such a short time in the day and profit from the market. Crypto Day Trading Strategy As mentioned earlier, day trading of crypto assets like Bitcoin can only be successful if you have the right crypto day trading strategy. Below, we outline three strategies that can help you increase your profits from day-trading in the market. You can exit trades within minutes of entering them and earn a small profit in the process. Some scalpers use trading bots to automate their trading activities and make them more convenient. Ideally, scalpers try to make small profits. They "sarcasm" the market for small opportunities. Profits from this strategy are usually very small, so scalpers need huge amounts of capital to generate returns.
By Bhagirath Roy3 years ago in 01
Cryptocurrency: The Fintech Disruptor
While it seems absurd to introduce a new financial terminology to an already complex financial world, cryptocurrencies are challenging one of the biggest annoyances in today's financial markets: the security of transactions in the digital world. Provides a much-needed solution. Cryptocurrency is a defining and disruptive innovation in the rapidly changing world of financial technology, and a fitting response to the need for a secure medium of exchange in the era of virtual trading. In an era where business is all about numbers and numbers, cryptocurrencies are proposed to do just that! A proof of concept for an alternative cryptocurrency that promises to trade in a misnomer is a property, not an actual currency. Unlike everyday money, cryptocurrency models work as decentralized digital mechanisms without a central authority. In a decentralized cryptocurrency mechanism, money is issued, managed and supported by a collaborative community peer network. Its ongoing activity is known as mining on peer machines. Successful miners receive coins in recognition of their time and resources. Once used, the transaction information is sent to the blockchain on the network under the public key, preventing the same user from spending each coin twice. Blockchain can be thought of as a cash register. Coins are secured behind a password-protected digital wallet that represents the user. The supply of coins in the digital currency world is predetermined and not manipulated by individuals, organizations, government agencies or financial institutions. Cryptocurrency systems are known for their speed, as transactional activity via digital wallets can realize funds in minutes compared to traditional banking systems. It is also largely irreversible, further reinforcing the idea of anonymity and further eliminating the possibility of tracking money back to its original owner. Due to their salient features, cryptocurrencies have also become a trading mode for numerous illegal transactions. Currency rates fluctuate in the digital coin ecosystem, just like real-world financial markets. As the supply of coins is limited, the value of coins increases as the demand for the currency increases. Bitcoin is the largest and most successful cryptocurrency ever, with a market cap of $15.3 billion, a market share of 37.6% and a current price of $8,997.31. Bitcoin entered the forex market in December 2017 and was trading at $19,783.21 per coin until it suddenly collapsed in 2018. This decline is due to the rise of alternative digital coins such as Theorem, Puccini, Ripple, EOS, Bitcoin and Mint Chip. With hard-coded supply limits, cryptocurrencies are believed to follow the same economic principles as gold. Prices are determined by limited supply and fluctuating demand. Its sustainability is yet to be seen due to constant exchange rate fluctuations. As a result, investing in cryptocurrencies is currently more speculative than everyday financial markets. In the course of the industrial revolution, this digital currency was an integral part of the technological upheaval. From the casual observer's perspective, this surge may seem evocative, ominous, and mysterious at the same time. Some economists remain skeptical, but others see it as a flash revolution in the financial economy. To put it mildly, digital coins will take away about a quarter of the currencies of developed countries by 2030. This has already created a new asset class alongside the traditional global economy, and in the coming years, crypto finance will create a new set of investment vehicles. Recently, Bitcoin may have tumbled to shine the spotlight on other cryptocurrencies. Some financial advisers have stressed the government's role in fighting the secret world and regulating central government mechanisms. However, some advocate maintaining the current free flow. The more popular a cryptocurrency is, the more scrutiny and regulation it attracts. This is a common paradox that plagues digital banknotes and undermines the primary purpose of their existence. In any case, the lack of intermediaries and oversight is very attractive to investors and dramatically changes day-to-day trading and international banks. After 2030, regular transactions will be dominated by the cryptocurrency supply chain, reducing friction and increasing economic value between tech-savvy buyers and sellers. If cryptocurrencies want to become an integral part of the existing financial system, they must meet very different financial, regulatory and social standards. To provide basic utility to the mainstream monetary system, it must be hack-resistant, consumer-friendly, and well-protected. It aims to maintain the anonymity of its users so that it does not become an avenue for money laundering, tax evasion and internet fraud. This is a must for any digital system, so it will be a few years before we understand whether cryptocurrencies can really compete with real-world currencies. The success (or failure) of overcoming cryptocurrencies will determine the future fate of the monetary system. Dive into the world of much debate and hard-coded secrets of the next monetary system, cryptocurrency
By Bhagirath Roy3 years ago in 01
Artists of Black History Month
Black Background Month has actually been acknowledged every February for as long as a lot of us can remember, however also few understand exactly how it all came to be. For that, we need to go right back to 1915 and a gentleman called Carter G. Woodson. A grad of the University of Chicago, with a doctorate from Harvard, he is called the "Papa of Black History Month."
By brownrachel199163 years ago in 01
Listen to Your Body
Listen and you will receive. You're body is supposed to be your temple, or so they say. Although it doesn't always happen that way. We are always in a hurry to complicate our lives. Let us just chill and relax. The way God has intended it to be. It will help if you listen to it. Nature is calling, will you take the collect call or pick up the phone? You should probably take the call, or at least I would.
By Alex Jennett3 years ago in 01
The New Twitter!
Buying of Twitter! Elon Musk one of Twitter’s most active users and has more than 109 million followers, began buying shares in the company this year. In April, he struck the deal to buy the company for $44 billion and said he would lift Twitter’s content moderation policies, eliminate spam, add new features and provide more transparency about the algorithms used to promote content.
By Vraj Patel3 years ago in 01
What are the Benefits of True Wireless Earbuds?
Say goodbye to your wired earphones as the age of wireless gadgets is truly upon us. There are so many gadgets that we use everyday that use bluetooth connectivity and make our lives easier. Be it sending files from one device to another or connecting your laptop to the printer. A few clicks can help you do so much more!
By Avinash Gupta3 years ago in 01
AI artists are taking over: Stable diffusion
Less than a month ago, StabilityAI has released an open-source Deep Learning model that can let anyone generate art and images. This is big news since even you can have access to it! I will show you what kind of images it generates and then give you the link to where you can also generate art on your own. Let’s get into it.
By Pircalabu Stefan3 years ago in 01
What is Gratitude to You – Enter my Contest
What is gratitude to you? Since we all have different things we are appreciative of; a few of the reasons I’m grateful are realizing I am fortunate to appreciate several people in my life who have been there for me and, also for what I have accomplished so far.
By Lynne Black3 years ago in 01
The Most Important Quotes about AI
Artificial intelligence is perhaps the most important topic of 2022. After the digital revolution, which is still underway, we will surely see an AI revolution. In the future, most tasks around the globe will be automatically performed by AI agents, with humans being supervisors of those agents. Most CEOs of big corporations know that they must adopt AI as part of their company, or they will be left behind.
By Pircalabu Stefan3 years ago in 01
