Fear not, China is not banning cryptocurrency

In 2008, after the financial crisis, a paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System” was published, detailing the concepts behind the payment system. Bitcoin was born. Bitcoin has gained world attention due to its use of blockchain technology and as an alternative to fiat currencies and commodities. Touted as the next best technology after the Internet, blockchain offers solutions to problems we have been unable to solve or ignored for the past few decades. I won’t go into the technical side of this, but here are some articles and videos I recommend:

How Bitcoin Works Under the Hood

A gentle introduction to blockchain technology

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

Fast forward to today, February 5th to be exact, the Chinese authorities have just introduced a new set of regulations banning cryptocurrency. The Chinese government already did this last year, but many of them went through foreign exchanges. It has now enlisted the all-powerful “Great Firewall of China” to block access to foreign exchanges in an attempt to prevent its citizens from conducting any cryptocurrency transactions.

To learn more about the Chinese government’s stance, let’s go back a couple of years to 2013, when Bitcoin was gaining popularity among Chinese citizens and prices were skyrocketing. Concerned about price fluctuations and speculation, the People’s Bank of China and five other government ministries issued an official notice in December 2013 titled “Bitcoin Financial Risk Prevention Notice” (link in Chinese). Several points were noted:

1. Due to various factors such as limited supply, anonymity, and 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 prohibited from offering Bitcoin-related financial services or engaging in Bitcoin-related trading activities.

3. All companies and websites offering Bitcoin-related services must register with the necessary government ministries.

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

5. Organizations that provide Bitcoin-related services must inform the public about Bitcoin and the technology behind it and not mislead the public with misinformation.

In simple terms, Bitcoin is classified as a virtual commodity (such as in-game credits) that can be bought or sold in its original form, rather than exchanged for fiat currency. It cannot be defined as money – something that serves as a medium of exchange, a unit of account and a store of value.

​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​ from 2013, it is still relevant to the Chinese government’s stance on Bitcoin, and as mentioned, there is no sign of a ban on Bitcoin and the cryptocurrency. Rather, Bitcoin and blockchain regulation and education will play a role in China’s crypto market.

A similar message was published in January 2017, which again emphasized that Bitcoin is a virtual commodity and not a currency. In September 2017, the boom in Initial Coin Offerings (ICOs) led to the publication of a separate notice entitled “Financial Risk Prevention Notice of Issued Tokens”. Soon after, ICOs were banned and Chinese exchanges were investigated and eventually shut down. (Hindsight being 20/20, they made the right decision to ban ICOs and stop pointless gambling). Another blow was dealt to the Chinese cryptocurrency community in January 2018, when mining faced a major crackdown due to excessive power consumption.

Although there is no official explanation for the crackdown on cryptocurrencies, capital controls, illegal activities and protection of citizens from financial risks are among the main reasons cited by experts. Indeed, Chinese regulators have imposed tighter controls, such as restrictions on withdrawals and regulation of foreign direct investment, to limit capital flight and ensure domestic investment. The anonymity and ease of cross-border transactions have also made cryptocurrency a favorite vehicle for money laundering and fraud.

Since 2011, China has played a crucial role in the meteoric rise and fall of Bitcoin. At its peak, China accounted for more than 95% of the world’s bitcoin trading volume and three-quarters of its mining operations. With the intervention of regulators overseeing trade and mining operations, China’s dominance has been greatly reduced in exchange for stability.

With countries like Korea and India following their lead in cracking down, the future of cryptocurrency is now being cast in shadow. (I’ll repeat my point here: countries regulate cryptocurrency, not ban it). There is no doubt that in the coming months we will see more countries join in taming the booming crypto market. Indeed, some kind of order was long overdue. Cryptocurrencies have experienced unprecedented price volatility over the past year, with ICOs happening literally every other day. In 2017, total market capitalization rose from $18 billion in January to an all-time high of $828 billion.

Still, the Chinese community is in surprisingly good spirits despite the crackdown. Online and offline communities are thriving (I personally attended quite a few events and visited some firms) and blockchain startups are popping up all over China.

Major blockchain firms 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 a significant amount of traction. Even giants like Alibaba and Tencent are also exploring the possibilities of blockchain to improve their platform. The list goes on and on, but you get my point; it’s going to be HUGE!

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

China’s 13th Five-Year Plan (2016-2020) envisioned the development of promising technologies, including blockchain and artificial intelligence. It also plans to strengthen research on fintech applications in regulation, cloud computing and big data. Even the People’s Bank of China is also testing a blockchain-based digital currency prototype; however, since it will most likely be a centralized digital currency with encryption technology, its acceptance by Chinese citizens remains to be seen.

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

A recent report titled “2018 China Blockchain Development Report” (English version at the link) by the China Blockchain Research Center details the development of China’s blockchain industry in 2017, including the various measures taken to regulate cryptocurrency on the mainland. A separate section of the report highlights the optimistic outlook of the blockchain industry and the massive attention it has received from VCs 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 mining. China wants to control cryptocurrency, and China will get control. Repeated control measures by regulators were aimed at protecting citizens from the financial risks of cryptocurrencies and limiting capital outflows. At the moment, it is legal for Chinese citizens to hold cryptocurrencies, but they are prohibited from transacting in any form; hence the ban on exchanges. If the market stabilizes in the coming months (or years), we will undoubtedly see a revival of the Chinese crypto market. Blockchain and cryptocurrency go hand in hand (except on a private chain where a token is not needed). So countries can’t ban cryptocurrency without banning blockchain – great technology!

One thing we can all agree on is that blockchain is still in its infancy. There are many exciting developments ahead, and now is definitely the best time to lay the groundwork for a blockchain-enabled world.

Last but not least: HODL!

A Quick Guide to Crowdfunding for Ordinary People

Crowdfunding is in vogue, new platforms are appearing more and more often. Many see it as the future of investing, while others warn that its risks are often underestimated. And then there are different types of crowdfunding: reward-based, equity-based, debt-based, flexible, fixed, and so on. All of this may sound strange, but as with most things, the underlying logic is simple.

The most important advantage of crowdfunding is that it makes investing in small companies and startups accessible to everyone. For this reason, it is more important than ever that people fully understand this new world, as much of the negative publicity surrounding crowdfunding is largely focused on the misuse and misunderstanding of the platforms. In this article, I’ll talk about the different types of crowdfunding platforms, the main players in each category, and explain some of the main pitfalls that many newbies fall into.

But first a definition.

What is a crowd?

Ordinary, ordinary people. And that’s what the “crowd” means in crowdfunding. You see, raising money isn’t really about business plans, market traction, or financial projections: it’s ultimately about trust. And in life, the higher the risk of getting hurt, the more important trust becomes. For this reason, most people don’t mind putting a few pounds into sponsoring a charity run or lending a friend a few pounds; there is a general consensus that you should not expect to see the money again, and thus the level of trust in the person you are giving the money to should not be particularly high. But when someone asks you to invest several thousand pounds, the situation is radically different. For most people, this is not an amount of money they can afford to lose. So most people have been shut out of the investment world where small businesses need thousands of pounds.

It is therefore logical that the traditional ways for founders to finance their business were through channels such as loans from banks, wealthy individuals, friends and family. A founder’s ability to raise money was largely dependent on his collateral in the case of a bank loan or his personal network in the case of private equity investments, consisting of large chunks of money from a small handful of people who trusted and/or vetted them thoroughly. The alternative – raising small chunks of money from large numbers of people – was virtually impossible, unless the founder happened to know hundreds of people and was unwilling and unable to deal with the huge administrative costs associated with that many people.

Enter the Internet with its storied history of both eliminating administrative headaches and connecting large groups of people. Crowdfunding essentially facilitates the search between regular people interested in investing in things and regular founders who don’t have access to collateral or vast networks of wealthy people. The software that runs on the crowdfunding platform handles all the administration, while the Internet itself provides a huge potential pool of people that the founder can sell to at scale.

In short, crowdfunding allows you to raise small amounts of money from a large number of complete strangers. For that reason, it’s great.

The main types of crowdfunding platforms

There are four main types of crowdfunding platforms, all with different benefits and risks. Below are the main ones with links to the largest or best-known operating companies.

Reward-based crowdfunding

Major players: Kickstarter, Indiegogo

Closer to traditional philanthropic fundraising, reward-based platforms take money in the form of pledges or donations, and in return you receive some sort of business return or perk. For example, you can get a discounted unit of a product that is funded after its production, or for a higher donation amount, you can get a personalized version of the same product as a thank you for your support. This is the “reward” in question, and usually the bigger the deposit, the better the reward.

For obvious reasons, you tend to find mostly physical products on reward sites where the money is used to prototype a concept into first production. They are also popular for creative projects such as movies, games or music albums, where fans can support their favorite artists and receive perks such as end credits in return.

The downside of reward-based sites is that they are vulnerable to fraud and scams. There is usually little or no due diligence on companies and individuals raising money, and with minimum pledges starting at just £1, the barrier to entry for an investor is also minimal. Scammers often present fake product prototypes in videos with concept art and renderings, only to disappear with the money after the campaign ends. In this case, investors have little recourse but to complain to the crowdfunding platform itself for compensation, but the lines of responsibility for the risk are somewhat blurred.

There are fantastic opportunities to support exciting projects on reward-based platforms, but the risk is the highest and the returns are usually invisible. Investing in a rewards-based platform should be done out of passion for the product you’re investing in, not an expectation of financial gain.

Equity-based crowdfunding

Major players: Seedrs, Crowdcube

Much closer to the traditional concept of investing, equity-based platforms facilitate investments in businesses in exchange for equity in those businesses. Equity platforms are regulated by the UK’s Financial Conduct Authority and investors must meet certain legal requirements. However, they are not particularly strict and usually involve a simple credit check and filling out an online questionnaire. Minimum investment amounts are still very affordable and are usually around £10, although some equity platforms have higher minimum stakes.

However, for businesses that want to raise, the entry process is much tougher. Due diligence is done for each campaign and the submission process usually consists of a series of iteration and approval stages before the campaign can be launched. An obvious advantage for investors is the added level of protection for their investment. Fraudsters or fraudsters are much less likely to start on share platforms, and FCA rules require businesses to back up their claims with evidence, which the platform will independently verify before allowing the company to run. For this reason, 90% of all applications for equity-based platforms do not make it to the launch of the company.

The advantages for companies raising money are access to a more sophisticated group of investors outside their own networks (traditional investors are increasingly flocking to such platforms), as well as a streamlined process of working with a – usually much smaller than on other crowdfunding platforms – group investors. There is also a growing trend for investment platforms to act as nominee shareholders on behalf of investors, meaning that a business takes on one new shareholder instead of several hundred, making management much easier and future investments much easier. Businesses looking to raise money often overlook this point, but it’s the main reason we chose Seedrs for our own fundraising campaign.

Equity platforms will typically hold funds in escrow until the company closes, adding another layer of protection for investors. Of course, the usual risks apply in terms of expected returns: most investments won’t pay much, but those that do promise huge financial gains compared to other investment options. Generally speaking, this type of crowdfunding is what is mentioned in speculation about the format’s impact on the future of investing in general.

Debt-based crowdfunding

Key Players: Funding Circle, Zopa

Otherwise known as peer-to-peer lending, debt crowdfunding takes the main advantages of crowdfunding – administrative advantages and access to large groups of people – and applies them to business lending. Simply put, investors put their money into a fund managed by a platform, and the platform lends money to businesses looking for capital. Investors can choose which business they want to invest in or let the platform make the selection automatically on their behalf.

The main difference, obviously, is that the investor must expect to get the money back with interest. The appeal of putting money into a loan platform instead of equity comes down to the reduced risk factor provided by the fact that businesses go through the same rigorous vetting procedures as bank loans, and returns are often much higher than a simple ISA or pension. A business that meets the lending criteria benefits from better rates than a bank with more transparency.

While generally not ideal for early-stage startups without collateral, for more established startups looking to grow, it offers access to cash without having to give up equity or raise hundreds of investors. For more risk-averse investors, it’s a safer alternative to equity crowdfunding at the cost of missing out on the potentially large profits that successful startups can sometimes bring.

Crowdfunding on the blockchain

Key players: Smith + Crown, Waves

The newest and least known type of crowdfunding, blockchain crowdfunding uses the power of cryptocurrencies such as Bitcoin to generate cash from the creation of new tokens in a process called initial coin offerings (ICOs), which resembles the more traditional initial public offering (IPO) process. which we are used to in the stock markets.

It’s quite complicated to explain how this works, and understanding how blockchain and cryptocurrencies work is essential before even considering this path (if you’re interested, you can read my article “A Quick Guide to Blockchain… for the Common Man” here). Therefore, businesses that raise money this way are mostly blockchain-related themselves, and the investors involved in ICOs tend to have a very high risk appetite.

The appeal lies in the potential returns for investors from the cryptocurrencies themselves. As an example, the Ether cryptocurrency doubled in value in just three days in March 2017, while the Monero currency increased in value by 2,000% in the past year alone. Of course, this level of volatility can go the other way, as anyone who has recently invested in Bitcoin will attest.

Blockchain’s decentralized architecture and trustless crowdsourcing approach make it an obvious candidate for the preferred crowdfunding approach in the future, but the technology as a whole is still in its infancy and as such is prone to scams and fraud, as well as the high volatility of the currencies themselves. . Not for the faint of heart.

Which one to choose?

As an investor, the decision of which crowdfunding platform to invest in depends largely on your risk appetite. If your goal is to make any kind of profit, you should avoid reward-based platforms entirely. Alternatively, if you’re just looking for a better interest rate than an ISA can offer, debt-based platforms can be a good option, otherwise go for the crowdfunding option if you want to be a ‘real’ investor. Blockchain for gamblers.

As a business, stick to rewards-based platforms for consumer products that are in the concept or prototype stage, perhaps moving to equity platforms once your product is launched. Lending platforms are the best choice for transitional funding if you are more established, and blockchain is an obvious option if you are building a blockchain startup.

Whatever stage you’re at, be sure to shop around and do your research before you take the plunge, and as long as you keep your wits about you, you’ll be presented with exciting opportunities that you’ve likely never seen before. For this reason alone, crowdfunding is a great innovation.

Why mental strength is much more important than physical strength

Mental health

Mental fitness is a scale of psychological relief or absence of mental illness. It is “the psychological state of any person functioning with an appropriate degree of emotional and social adaptation. From the perspective of constructive psychology, intellectual health can also include a person’s ability to enjoy life and build stability between existence, things to do, and the World Health Organization (WHO) states that intellectual fitness includes “personal well-being, apparent self-efficacy , independence, ability, intergenerational dependence, and self-realization of one’s intellectual and emotional potential, among others.” WHO further states that the well-being of a person depends on realizing one’s abilities, coping with the normal stresses of life, creative work, and participation in one’s group. Social differences, personal values ​​and conflicting professional philosophies all influence how “mental health” is defined.f

Mental health is the subtle movement of a rational role, the application of innovative actions, the achievement of interaction with other people, and the ability to adapt to change and cope with difficulties. The term mental illness refers collectively to all diagnosable mental illnesses—health conditions characterized by changes in thinking, attitude, or general performance associated with difficulty or reduced functioning. A person suffering from their intellectual ability can also experience it due to stress, loneliness, depression, anxiety, relationship problems, loss of a loved one, suicidal thoughts, grief, addiction, a number of mood disorders or various intellectual illnesses of varying degrees, etc. as good as dating with disabilities. Counselors, psychologists, psychiatrists, or doctors can help manage mental illness through tools such as therapy, counseling, or medication.

Mental health can be seen as a volatile range where a person’s intellectual fitness can have many unique possible meanings. Mental Wellbeing is considered a wonderful trait even if the character has no known state of mental fitness. This definition of mental health focuses on emotional well-being, the ability to lead a fulfilling life, and the ability to cope with some of life’s challenges. Some discussions are expressed in terms of pleasure or happiness. Many useful self-help systems and books address strategies and ideas that promote methods and strategies that are judged to be of good quality to further improve mental health. Optimistic psychology is gradually becoming more prominent in intellectual health. Intellectual preparation usually includes standards based entirely on personal, educational, psychological, religious, and sociological perspectives.

The most common mental illnesses in children include attention deficit hyperactivity disorder (ADHD), autism and anxiety disorders, as well as depression in older children and teenagers. When a child has an anxiety disorder, he avoids social cooperation and associates many ordinary things with deep fear. This can be terrifying for a child because they don’t really understand why they behave and think the way they do. Many scientists say that parents should be attentive to their child if they see something strange in him. If children are diagnosed earlier, they are better able to adjust to their illness and treatment becomes part of their daily routine. This is different in adults, who may not improve as quickly because they have a harder time acclimatizing.

Mental illness affects not only the person himself, but also the people around him. Living with a mental illness is hard, so it’s always important to have people around, friends and family play a very important role in making life a little easier. However, there are also negative factors associated with the social aspect of mental illness. Sometimes parents are blamed for their child’s illness. It is said that parents raised their children in a certain way or learned their behavior from them. Family and friends are sometimes embarrassed to like the person with the disorder, in which case the child feels isolated and thinks he has to hide his illness from other people. Such behavior interferes with the child’s social interaction and treatment.

Mental illness is more public than cancer, diabetes or heart disease. Stigma is also a prominent aspect of mental illness. Stigma is a mark of shame associated with a particular condition, advantage, or personality. Stigma is used especially when it comes to the mentally ill. Avoiding the disorder at a young age can significantly reduce the likelihood that a child will be affected by the disorder later in life, and is the most effective and realistic measure from a public health perspective. Prevention may require regular sessions with a doctor at least twice a year to experience any symbols that reveal mental health anxiety.

Mental health is a socially constructed and socially demarcated concept, meaning that different humanities, congregations, philosophies, institutions, and businesses have very different ways of theorizing the environment and causes, defining what is mentally healthy, and defining what is what is patronage, if any. suitable. Therefore, different professionals will have different ethnic, class, political and religious backgrounds, which will influence the procedure applied during the conduct.

Unemployment has adverse effects on their health, self-esteem and more importantly their mental health. Aggregate unemployment has been shown to have a profound effect on mental well-being, mainly the grim ailments. This is a vital issue when examining assets for mental disorders in any population-based survey. To restore one’s emotional mental health, the subject’s origin must be corrected. Prevention emphasizes avoiding aspects of risk; the company’s goals are to enhance a person’s skills to achieve a positive sense of self-esteem, mastery, comfort and social presence. It is very important to improve your emotional mental health by attaching positive associations to yourself. People thrive on company and interacting with other people. Another way to boost your emotional mental health is to contribute to accomplishments that allow you to relax and take time for yourself. Exercise is a great example of an activity that calms your body and nerves.

Emotional mental illness is a leading cause of ill health worldwide. Researching the extent and severity of gross emotional mental disorders worldwide is a critical task of the World Organization for Mental Health (WMH). These disorders are most important for low- and middle-income countries because of their inability to provide adequate services to their citizens. Despite modern treatment and recovery for emotional mental health illnesses, even economically privileged citizens have conflicting needs and financial constraints.

"Origin of species" and ICO-TIN – The Difference Between Earth and the Rest

On November 24, 1859, the “Origin of Species” day was published, and the world was introduced to a unique theory of existence, reasons for existence and the processes of birth, evolution and survival of different species. The most ancient and with eternal longevity were amoebas and others like them. They have been through all the ups and downs; through the rough phases presented by Mother Nature.

The Origin of Species was a one-of-a-kind book written for everyone to be read and understood by everyone. It was liked and popular among all classes, be it students, researchers, scientists or seers. He was popular all over the world because of his neutral approach and broad language. The theories are still applicable and the book proved useful for future biological and relative theoretical experiments and practical applications regarding the origin and evolution of various species on planet Earth.

Relative similarities between “Origin of Species” and Blockchain:

If Satoshi Nakamoto is the “Darwin” of the cryptography era, and cryptography is the “Origin of Species”, given the fact that it all exists in the same world we all live in, and has a significant impact worldwide. It was understood, although almost all over the world, but it became a popular and widely recognized phenomenon.

While other cryptocurrencies failed to survive and lost their existence to the winds of change and evolution, like the earlier “single-celled” organisms, before the amoeba. Bitcoin, being the fittest of the species, was the “amoeba” of this relative hypothesis. It was the reason, inspiration and standard for other, more complex organisms to follow. These organisms, Ethereum for example, were introduced with a new execution concept that became the ICO (Initial Coin Offering). Relatively, the natural principles of development, nutrition, growth and reproduction were common and known to all.

Discussions, scientific and religious, in due time and for a long time:

The “Origin of Species” has given rise to various heated discussions, both scientific and practical, and religious and orthodox, as well as blockchain. The Orthodox community, or religious groups that dominated at the time, were not flexible enough to allow new theories to prevail in the society they had long ruled. Likewise, the financial system, which has been dominant since money and currency came into society, does not want to change and is firmly stuck to its trends established over a couple of centuries. Perhaps he fears the importance he might lose if his principles are replaced.

The book was compiled over a long period of time, and that reign is popularly called the “eclipse of Darwinism”, that is, from the 1880s to the 1930s. Despite all the evidence and explanations, the “origin of species” has been hidden from the “acceptance” of the “responsible” for quite a long time. People were banned from talking about “Darwin’s theories” in public or on social media. The current time can be compared to the same reign period when people could not talk about “cryptography” in financial meetings or forums related to centralized banks or finance-related social platforms, where the monopoly is a minion for big old banks and credit companies.

Coexistence and definition of “EVOLUTION”:

Likewise, a number of other enthusiasts have emerged with new badges that have turned to cryptocurrency exchanges and similar theories about the evolution of the world after the “origin of species”. Then Darwin’s theory was discovered, which proved to be practical and applicable, very useful for new biological discoveries. Similarly, the concept of ICO (Initial Coin Offering) was introduced to the world. This led to a revolution, opening the door to monetary participation for “non-technical” individuals in the crypto world.

As before, the concept was questioned, challenged, and unfortunately, with a few glitches and initial failures of some apps (which were very few compared to the successful ones), critics got a chance to celebrate.


“Origin of species” was later comparatively revealed as defining and explaining the evolution of different species on earth. It was also explained that the difference between the habitat on Earth and other planets is possibly what makes LIFE impossible elsewhere. Darwin didn’t talk about it; Nakamoto didn’t say about the “ICO” either.

Authorities and “religious” organizations around the world have challenged the concept of ICOs. These “religious” (non-principled and averse to change) financial systems have their limits. They make hard mandates for every new integration or experiment, introduction or invention in the system. These powers tend to be a dead end for ICOs these days.

To create a window into this “impasse” for ICOs, and with further clarifications and integrations into the “hard mandate” policies of “religious bodies”, the ICO-TIN should emerge. To provide an irreplaceable habitat for ICOs and to make “Earth” different from other planets, ICO-TIN makes a safe middle ground between progressive ICOs and “religious” old financial systems.


The difference between the other planets is obviously the presence of air and water around the habitable environment. As Darwin defines it, “life finds a way.” Of course, it did. ICO-TIN has found a way to take ICO to a new level and make everything safe and profitable for everyone.

The issues and how ICO-TIN makes a mutually beneficial platform for people as well as teams representing ICOs can be analyzed and understood in the research explained below.

The challenges of launching an ICO are now:

1) A smart contract has its limits. It can either disclose the address to which the cryptocurrency is to be transferred, i.e. the unique address associated with a particular ICO, and once the address is disclosed to all or at least a large number of people who are interested in participating in that ICO, they can always log in to make payments.

2) As long as the contract is valid, more is considered efficient, but the more codes it has, the more gas it consumes per transaction. Therefore, making a smart contract long is not profitable at all.

3) At the point in time when the ICO cannot accept more than 14 transactions per second, an AUCTION situation occurs. In this situation, the given parameters push to make a deal in any case, regardless of the price of gas.

4) SPF or single point failure occurs when such scenario is created.

5) Compliance is another article to take care of where two things should be considered.

The first is the KYC process, which is more complicated than the others because it has to be integrated with the image upload, which makes the system quite open and vulnerable to hacking threats and malware.

The second is accounting, which again is a big task for regulation and care because there are different cryptocurrencies on the exchange and no one wants to change their payment method to a medium that they don’t use often.

6) Strategy development should be very planned and flawless. It covers three aspects, now these three aspects have been established on the traditional ways of ICO, these three ways were:

AUCTION – when a set pattern determines which transaction should be prioritized based on the fact that the transaction was backed by a higher GAS price

BOUNTY – A reward is usually given to participants or non-participants for getting more people into a program or ICO. This prize was quite often a number of tokens.

GAS – Gas was a very important factor when it comes to launching an ICO because there have to be a lot of transactions and even a very small transaction ends after consuming many times the same amount of GAS.

Application and irreplaceability of ICO-TIN

ICO-TIN is the answer to all these problems for a person who was busy developing his technical and cryptographic skills and was never skilled or smart enough to face the challenges of the criminal market.

We are talking about a more “professional” approach. Since a man is paid to do something, he must excel at it. Anyone could get a haircut, but we prefer a barber because he knows his business better. This explains the irreplaceability of the ICO-TIN professional package.

It is an enterprise solution for launching new ICOs and provides a customized package that also includes ICO launch and marketing.

The solutions to the questions were as follows:

1) The smart contract will not be available for access; the unique address will never be disclosed to any member. There will be parallel and more secure payment methods.

2) The easiest way to pay will be that with any payment method (FIAT and BTC currencies too) you will have to buy dollars in the system and his further purchase will be governed by those dollars.

3) This complete system will be an “OFF-chain” program integrated with the system anyway; therefore, there will be no transactions, no consumption of any GAS during the transactions made by the participants

4) However, the payments to be made by the system will be regulated according to the periodic cost effective prices of GAS and thus it will be a minimum liability system for round trip transactions.

5) There won’t be any auction for transactions and hence GAS consumption won’t be a problem anyway.

6) KYC and accounts will be managed in different ways, with a system that will not be in direct compliance with the ICO, so it will not be a threat to the ICO if images need to be uploaded.

7) Accounts will be seamlessly managed by individuals and this can be done more efficiently.

Taking the “Origin of Species” to a new level was a challenge for biologists and others involved, but they could not let Darwin’s work and contributions go to waste. Bringing this vision to the next generations and encouraging the progressive youth of today was also a responsible job.

If one considers “ICO-TIN” to be a revised version of Nakamoto’s “Origin of Species”, it is not too ambitious at all. This opens the way for more experiments and the possibility of combining the “two worlds”.

Benefits of paying with Bitcoin

Because virtual currencies have a unique nature, they offer many advantages over traditional currencies. Over the past few years, the world of digital currency has seen many positive changes. There are many cryptocurrencies, but Bitcoin is one of the most popular. In this article, we are going to take a look at some of the most prominent benefits of paying with Bitcoin. Read on to learn more.

1. User autonomy

For many users, digital currencies offer much more freedom than traditional currency. People can better control how they can spend their money. The good thing is that they don’t have to deal with intermediaries like the government or the bank.

2. Prudence

Another advantage is that things purchased with bitcoins are discrete. Only the user can publish their Bitcoin transactions. Also, transactions don’t have their name next to them. In addition, these transactions are almost impossible to trace.

Essentially, each transaction has a different Bitcoin address. But that doesn’t mean these transactions can’t be traced. So, if you don’t want others to know where you spent your money, you can use cryptocurrencies to make payments.

3. Equal to equal Focus

Another great advantage of the Bitcoin payment system is that it is based on peer-to-peer communication. In other words, users can receive and send payments without getting approval from any authority. Payments can be made within seconds as long as the user is connected to the Internet.

4. No bank fees

Unlike traditional fiat currencies, Bitcoin does not charge deposit, overdraft or minimum balance fees. So you don’t have to worry about account maintenance fees or balance.

5. Low transaction fees

As a rule, purchases abroad and regular bank transfers are accompanied by exchange costs and fees. Since cryptocurrencies do not require government involvement or any intermediary institutions, transaction costs are quite low. If you are a traveler, this can be a great advantage for you. In addition, Bitcoin transfers are very fast, eliminating the need for authorization and long waiting periods.

6. Mobile payments

Like any online payment system, cryptocurrency users can make payments through their mobile phones when they are connected to the internet. That way, they don’t have to go to the bank to make a purchase. Also, you don’t need to reveal your personal identity to complete the transaction.

7. Availability

Sincere users can receive and send bitcoins using their computer or smartphone, there is no need to involve a traditional bank or other authority. In addition, users do not need to use their credit cards to make payments. Therefore, Bitcoin provides more affordability than other options you can try.

In short, these are just some of the main advantages of making payments with Bitcoin instead of using traditional means of payment. Hopefully, this article will help you better understand cryptocurrencies.

What is an ICO and how does it work?

ICO has proven to be a revolutionary way to raise money for many companies and projects. ICO can be called a combination of traditional methods and advanced methods. The main thing to consider here is that investors investing in an ICO will be 100% risk-free due to the technology used.

Until now, most of the ICO funds have been raised through Bitcoin (BTC) or Ether (ETH). When performing an ICO, the project creates a Bitcoin or Ethereum address to receive funds, and then displays it on the corresponding web page. The process is the same as opening a bank account and then displaying it on a specific web page to people so they can send money.

An initial coin offering (ICO) is basically an illegal way of raising funds through crowdfunding through various cryptocurrencies (in some cases, fiat currencies) and functions by cryptocurrency organizations to obtain the capital required for a project. In an ICO, a certain portion of a newly released cryptocurrency is sold to investors in exchange for any legalized tender or any other cryptocurrency. This can be called a token sale or crowdsale, which involves receiving an investment amount from investors and providing them with some features related to the project to be launched.

IPO, ie. an initial public offering is a process, somehow related to an ICO, in which investors receive shares in the company’s ownership. During an ICO, investors purchase the company’s coins, which can increase in value if the business grows.

The first token sale, i.e. ICO, was conducted by Mastercoin in July 2013. Ethereum raised money through an ICO in 2014. ICO has taken on a whole new definition in recent years. In May 2017, there were approx. 20 offerings, as well as the recent Brave web browser ICO, raised around $35 million in just 30 seconds. By the end of August 2017, there had been a total of 89 ICO coin sales since January 2017 worth $1.1 billion.

Investors send bitcoins, ethereum or any other cryptocurrency to a specified address, and then in exchange they receive new tokens that can benefit them greatly if the project takes a hit.

  • ICOs are mostly held for cryptocurrency-based projects that rely on decentralized techniques. So, naturally, such projects will attract only those investors who show great interest in the concept of cryptocurrency and are friendly to the technology used.
  • An investor-owned document does remain as a web page, white paper, or web publication. Some of these documents show accurate information about the project, or some others literally fake its features to mislead interested parties. Therefore, before relying on any document or electronic document, it is better to undergo a quality check.

Cryptocurrency mining

Cryptocurrency mining is an endless game in this digital world. Bitcoin, the first decentralized currency, introduced in early 2000. Cryptocurrency mining is a complex process of verifying transactions and adding them to a public ledger (blockchain). This ledger of past transactions is called a blockchain because it is a chain of blocks. Blockchain serves to confirm transactions with the rest of the network. The blockchain is also responsible for issuing new bitcoins. Each of the many cryptocurrencies present depends on the basic idea of ​​the blockchain.

Mining process

Cryptocurrency was supposed to be decentralized, secure and immutable. So every transaction is encrypted. Once this encrypted transaction occurs, it is added to what many call a “block” until a set number of transactions have been recorded. This block is then added to a chain – the blockchain – which is publicly available. While mining Bitcoin, Dash, Litecoin, Zcash, Ethereum and other cryptocurrencies, the miner must assemble recent transactions into blocks and solve a computationally complex puzzle. There are several online Bitcoin mining sites. This has become a very popular way of earning.

Cryptocurrency is cryptographic, which means it uses special encryption that allows you to control the generation of coins and confirm the transaction. The block is pretty useless in its current available form. However, after applying the algorithm to a specific block. If there is a match, the miner gets a couple of bitcoins. To get bitcoins by mining, Miner must be technical. Bitcoin mining for profit is very competitive. The price of Bitcoin makes it difficult to make a monetary profit without speculating on the price. Pay is based on how much their equipment contributes to solving that puzzle. Miners verify transactions, ensure they are not false, and maintain the infrastructure.

Best coins to mine

Bitcoins are not a decent solution for novice miners trying out on a small scale. The current upfront speculation and upkeep costs, and the pure scientific problem of the procedure, simply do not make it productive for buyer-level equipment. Currently, Bitcoin mining is sort of reserved for large-scale activity. Again, Litecoin, Dogecoin, and Feathercoin are three digital forms of money based on Scrypt that are the best money saving advantage for students. At Litecoin’s current valuation, a person can earn anywhere from 50 pence to $10 every day using client-level mining hardware. Dogecoin and Feathercoin will benefit slightly less with similar mining hardware, but are becoming more popular every day. Pircoins can also be a reasonably fair profit for your enterprise of time and vitality.

As more people join the cryptocurrency boom, your solution may become more complex to mine as more expensive equipment is required to find the coins. You will be forced to either contribute vigorously in the event that you need to continue mining this coin, or you will need to withdraw your profits and switch to a less demanding cryptocurrency. Understanding the three main Bitcoin mining strategies is probably the place to start; this article is about script coin mining. Likewise, make sure you are in a country where Bitcoin and Bitcoin mining are legal.

The purpose of mining

How about we focus on cryptocurrency mining. The whole focus of mining is to achieve three things:

1. Give accounting administrations to the coin network. Mining is essentially every minute of daily accounting on a PC called “transaction verification”.

2. Get a small bookkeeping reward by accepting coin shares every couple of days.

3. Reduce your personal expenses, including electricity and equipment.

Some basic terms

Free private database called coin wallet. It’s a password-protected container that stores your earnings and keeps extensive transaction records. Free mining software like this one from AMD which usually consists of cgminer and stratum. Sign up to a web mining pool, which is a community of miners who pool their PCs to increase profitability and stable wages. A listing on an online exchange where you can exchange your virtual coins for real money and vice versa. A reliable constant web association, ideally 2 megabits every second or higher speed. Place the equipment in your basement or other cool, air-conditioned space.

A desktop or custom-built PC designed for mining. Indeed, you can use your current PC to run it, but you won’t be able to use the PC while the digger is running. A separate dedicated PC is ideal. Tip: Do not use a laptop, game console or portable devices for mining. These devices are simply not successful enough to earn a living. An ATI graphics processing unit (GPU) or a specialized processing unit called an ASIC mining chip. The cost will range from $90 upfront for each GPU or ASIC chip to $3,000 for a new one. The GPU or ASIC will be the workhorse that will handle the accounting and mining operations.

A home fan to blow cool air on your mining computer. Mining generates a significant amount of heat, and cooling your hardware is critical to your prosperity. Personal interest. You definitely need a strong appetite for reading and constant learning as there are constant innovations and new methods to modernize coin mining. The best mining miners spend many hours consistently looking at the most ideal ways to adjust and improve their coin mining performance.

Cryptocurrency Mining Profitability Every time a mathematical problem is considered, a constant number of Bitcoins are created. The number of bitcoins generated per block starts at 50 and halves every 210,000 blocks (approximately four years). The current number of bitcoins received per block is 12.5. The last halving happened in July 2016, and the next one will happen in 2020. Profitability can be estimated using various online mining calculators. The development of digital currency standards, such as Bitcoin, Ethereum and Bitcoin Cash, has caused huge businesses for companies and it is necessary for the market to develop significantly in the near future.

Cryptocurrency mining is a computationally intensive process that requires a network of multiple PCs to verify a transaction record known as a blockchain. Miners are offered a share of transaction fees and a higher probability of finding another block due to high processing power. These support transactions help increase the security of the network customers and ensure honesty, which is believed to be a prominent factor influencing the development of the global cryptocurrency mining market.

This is how Bitcoin works in the cryptocurrency world

In case you don’t know, Bitcoin is a type of decentralized network cryptocurrency. In this process, transactions are based on a 16-digit encrypted address. Simply put, it’s like your social security number. In terms of security, only you can transfer funds because you have an address that supports two-factor authentication. In fact, Bitcoin consists of a network of several independent computers that are responsible for generating, distributing and verifying monetary transactions. Let’s find out more.
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How do you buy Bitcoin?

If you want to buy bitcoins, make sure you have a wallet app installed on your computer. With this app you can send and receive as many bitcoins as you want.
To purchase bitcoins, you must deposit funds into your web wallet, which acts as a bridge between sellers and buyers.

Once the exchange has accepted your currency, your next step is to place an order, which is similar to buying a stock.
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How does bitcoin work?

Bitcoin is essentially an international decentralized peer-to-peer network. Below is a description of how Bitcoin works.
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1. First of all, bitcoins are created by using computers to solve mathematical functions. And then there is the transaction verification process.

2. In the next step, traditional currencies are used to exchange Bitcoin. In fact, it works as a gateway to the world of cryptocurrency, especially for non-miners. You can say it is similar to buying stocks using a trading app.
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3. Whether you are an individual or a business, you can create wallets to send or receive bitcoins. If you used a PayPal account, you can easily use this type of wallet as well. The good thing about cryptocurrency is that it is based on a secure network. In addition, it makes all transactions completely secure.
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Can you mine bitcoins at home?

If you are interested in mining bitcoins at home, the description below can help you get started.

Cryptocurrency mining

Cryptocurrency mining is an approach that involves confirming cryptocurrency transactions and making entries in the blockchain ledger. If you want to authorize or mine cryptocurrency transactions, you need to compete with many other minors by performing complex calculations. This type of processing requires a lot of processing power.
Once the transaction is done, the system will reward you with bitcoins or whatever currency you mine.

Can you use your laptop to mine bitcoins?

The good news is that you can use your laptop to mine bitcoins. However, the million dollar question is, can it make you enough money? Short answer: no. ​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​Even though you can mine with a laptop, you won’t earn more than pennies, which isn’t worth it.
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In other words, you need an extremely powerful computer with multiple graphics cards to enjoy the highest mining speed.

So, if you are interested in mining or investing in bitcoins, you can follow the tips given in this article.

Definition of Bitcoin

Bitcoin is known as the very first decentralized digital currency, basically coins that can be sent over the internet. 2009 was the year Bitcoin was born. The creator’s name is unknown, but this person was given the pseudonym Satoshi Nakamoto.
Advantages of Bitcoin.

Bitcoin transactions are made directly from person to person over the Internet. There is no need for a bank or clearing house to act as an intermediary. Thanks to this, the commission for transactions is much lower, they can be used in all countries of the world. Bitcoin accounts cannot be frozen, there are no prerequisites for opening them, the same with limits. Every day more and more merchants are starting to accept them. You can buy anything you want from them.
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How Bitcoin Works.

You can exchange dollars, euros and other currencies for bitcoins. You can buy and sell as any other country’s currency. To keep your bitcoins, you have to store them in so-called wallets. These wallets reside on your computer, mobile device, or on third-party websites. Sending bitcoins is very easy. It’s as easy as sending an email. Bitcoins can be used to buy almost anything.
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Why Bitcoin?

Bitcoin can be used anonymously to buy all kinds of goods. International payments are extremely easy and very cheap. The reason for this is that Bitcoins are not actually tied to any country. They are not subject to any regulation. Small businesses love them because they don’t charge credit card fees. There are people who buy bitcoins only for investment purposes, expecting them to increase in value.
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Ways to buy bitcoins.

1) Buying on an exchange: People are allowed to buy and sell bitcoins on sites called bitcoin exchanges. They do this using their country’s currency or any other currency they have or like.

2) Transfers: People can simply send bitcoins to each other using their mobile phones, computers or online platforms. It’s the same as sending cash digitally.
3) Mining: The network is protected by individuals called Miners. They are regularly rewarded for all new verified transactions. These transactions are fully verified and then recorded in a so-called public transparent ledger. These people compete to mine these bitcoins by using computer hardware to solve complex mathematical problems. Miners invest a lot of money in equipment. Nowadays there is something called cloud mining. Using cloud mining, miners simply invest money in third-party sites, these sites provide all the necessary infrastructure, reducing equipment costs and energy consumption.

Safekeeping and custody of bitcoins.

These bitcoins are stored in so-called digital wallets. These wallets exist in the cloud or on people’s computers. A wallet is something like a virtual bank account. These wallets allow people to send and receive bitcoins, pay for things, or simply store bitcoins. Unlike bank accounts, these Bitcoin wallets are never FDIC insured.

Types of wallets.

1) Cloud Wallet: The advantage of a cloud wallet is that people don’t need to install any software on their computers and wait for long synchronization processes. The downside is that the cloud can be hacked and people can lose their bitcoins. However, these sites are very safe.

2) Desktop Wallet: The advantage of a desktop wallet is that people keep their bitcoins safe from the rest of the internet. The downside is that people can delete them when they format their computer or because of viruses.

Bitcoin anonymity.

There is no need to provide a person’s real name when making a Bitcoin transaction. Each Bitcoin transaction is recorded in a public ledger. This log contains only wallet IDs, not people’s names. so basically every transaction is private. People can buy and sell things without tracking.

Bitcoin innovation.

Bitcoin has created a whole new way of innovation. All bitcoin software is open source, meaning anyone can view it. Today, Bitcoin is changing global finance just as the Internet has changed everything about publishing. The concept is brilliant. When everyone has access to the entire global bitcoin market, new ideas emerge. Lower transaction fees are a fact of Bitcoin. Accepting Bitcoin costs anything, and it’s also very easy to set up. Refunds do not exist. The Bitcoin community will create spin-offs of all kinds.

If you thought you missed out on the internet profit revolution, give cryptocurrency a try

When most people think of cryptocurrency, they may also think of cryptocurrency. Very few people seem to know what it is and somehow everyone seems to talk about it as if they do. We hope this report demystifies all aspects of cryptocurrency, so that by the time you finish reading, you’ll have a pretty good idea of ​​what it is and what it’s all about.

You may or may not find that cryptocurrency is for you, but at least you’ll be able to speak with a degree of confidence and knowledge that others don’t.

There are many people who have already reached millionaire status by trading cryptocurrency. Clearly, there is a lot of money in this new industry.

Cryptocurrency is electronic currency, short and simple. However, what is not so short and simple is how it has value.

A cryptocurrency is a digitized, virtual, decentralized currency produced by applying cryptography, which, according to the Merriam Webster dictionary, is “the computerized encoding and decoding of information.” Cryptography is the foundation that makes debit cards, computerized banking and electronic commerce systems possible.

Cryptocurrency is not backed by banks; it is not supported by the government, but by an extremely complex system of algorithms. Cryptocurrency is electricity that is encoded in complex strings of algorithms. Their complexity and security against hackers gives them monetary value. The way cryptocurrency is made is simply too difficult to reproduce.

Cryptocurrency is in direct opposition to what is called fiat money. Fiat money is a currency that derives its value from government regulation or law. The dollar, yen, and euro are all examples. Any currency that is defined as legal tender is fiat money.

Unlike fiat money, the value of cryptocurrency is that, like commodities like silver and gold, there is only a limited supply. Only 21,000,000 of these extremely complex algorithms were produced. No more, no less. It cannot be changed by printing more, just as the government prints more money to pump up the system without support. Or the bank changed the digital ledger, which the Federal Reserve instructs banks to do to adjust for inflation.

Cryptocurrency is a means of buying, selling and investing that completely avoids government controls and banking systems that track your money. In conditions of destabilization of the world economy, this system can become a stable force.

Cryptocurrency also gives you great anonymity. Unfortunately, this can lead to misuse by criminals who use cryptocurrency for their own purposes just like regular money. However, it can also prevent the government from tracking your every purchase and invading your personal privacy.

Cryptocurrency comes in many forms. Bitcoin was the first and is the standard from which all other cryptocurrencies are created. All done by careful alphanumeric calculations using a sophisticated coding tool. Some other cryptocurrencies are Litecoin, Namecoin, Peercoin, Dogecoin and Worldcoin to name a few. As a collective name, they are called altcoins. Prices for each of them are regulated by the supply of a particular cryptocurrency and the demand for that currency in the market.

The way cryptocurrency came about is quite fascinating. Unlike gold, which has to be mined from the ground, cryptocurrency is simply an entry in a virtual ledger that is stored on various computers around the world. These records must be “mined” using mathematical algorithms. Individual users, or more likely a group of users, run a computational analysis to find a specific series of data called blocks. “Miners” find data that creates a precise pattern for a cryptographic algorithm. At this point it applies to the series and they found the block. Once the equivalent string of data in a block matches the algorithm, the block of data has been unencrypted. The miner receives a reward in the form of a certain amount of cryptocurrency. Over time, the reward amount decreases as the cryptocurrency becomes scarcer. In addition, the complexity of algorithms for finding new blocks increases. From a computational point of view, it becomes more difficult to find the appropriate series. Both of these scenarios combine to reduce the rate at which cryptocurrency is created. This simulates the difficulty and scarcity of mining a commodity like gold.

Now anyone can be a miner. The creators of Bitcoin made the mining tool open source, so it’s free for everyone. However, the computers they use run 24 hours a day, seven days a week. The algorithms are extremely complex and the CPU is working at full capacity. Many users have specialized computers made specifically for cryptocurrency mining. A miner is called both a user and a specialized computer.

Miners (humans) also keep transaction ledgers and act as auditors to ensure that the coin is never duplicated. This protects the system from hacking and vandalism. They are paid for this work by receiving new cryptocurrency every week they maintain their work. They store their cryptocurrency in special files on their computers or other personal devices. These files are called wallets.

Let’s summarize by going over a few definitions we learned:

• Cryptocurrency: electronic currency; also called digital currency.

• Fiat money: any legal tender; supported by the state, used in the banking system.

• Bitcoin: The original and gold standard crypto currency.

• Altcoins: Other cryptocurrencies created from the same processes as Bitcoin, but with slight variations in their coding.

• Miner: An individual or group of individuals who use their own resources (computers, electricity, space) to mine digital coins.

o Also a specialized computer made specifically to find new coins using a computational series of algorithms.

• Wallet: A small file on your computer where you store your digital money.

Conceptualizing the cryptocurrency system in a nutshell:

• Electronic money.

• Mined by people using their own resources to find coins.

• A stable, limited currency system. For example, only 21,000,000 Bitcoins have ever been produced.

• No government or bank required to make it work.

• Value is determined by the number of coins found and used, combined with public demand for their ownership.

• There are several forms of crypto currency, with Bitcoin being the first and foremost.

• Can bring great wealth, but like any investment, has risks.

Most people find the concept of cryptocurrency fascinating. This is a new field that could be the next gold mine for many of them. If you’ve found that cryptocurrency is something you’d like to learn more about, then you’ve found the right report. However, I have barely scratched the surface of this report. Cryptocurrency is much, much more than what I’ve gone through here.