Bitcoin mining is heating up as several groups are ramping up production, with one Russian company aiming for 20% of the world’s total.
Bitcoin mining has definitely changed over time. Regular people used to be able to mine BTC with their desktop computers, but those days are long over. Cryptocurrency mining is now the province of major companies, such as Bitmain. It seems that the competition between crypto mining outfits is heating up, with one Russian company shooting for hitting 20% of the world’s Bitcoin mining total.
In Mother Russia, Bitcoin Mine You!
The company in question is the Russian Mining Company (RMC), and its CEO is Dmitry Marinichev, the country’s Putin-appointed internet ombudsman. The company is setting up shop in a metal factory in the province of Karelia. The factory has been closed since 2018 due to U.S. sanctions.
Of the plant and RMC’s plans, Dmitry Marinichev says:
Now the plant for Rusal is unprofitable, the electricity supplied to it is practically not utilized, and people living in the single-industry town near the plant have nowhere to work. Our idea is to redesign the plant and sell its computing power as a service, that is, provide an IT service.
One of those services is cryptocurrency mining, and the plant is so large, it could account for a full 20% of the entire world’s Bitcoin mining production. The company managed to raise US$43 million during an ICO in 2017.
RMC is not alone in trying to grab a larger slice of the cryptocurrency mining pie. Argo Blockchain in the United Kingdom has doubled its order of mining rigs as it seeks a “significant expansion” to its capabilities. The company has ordered 10,000 Antminer T17s, worth a total of $9.51 million. When the new mining rigs arrive in December, the company will boast a total of 17,000 Bitcoin mining machines. Its total hash power is then expected to increase by 240%. China-based Canaan Creative is looking to score through a NASDAQ initial public offering. The second-largest BTC mining device manufacturer is hoping to raise $400 million through the IPO. The company says it will use the funds to pay off debts and fund research into blockchain technology and AI.
The decision by Canaan Creative comes a short time after Chinese President Xi Jinping spoke favorably about the country becoming the leading force in advancing blockchain technology. However, China is still hostile to decentralized cryptocurrencies, shutting down exchanges back in 2017, but the country’s central bank is reportedly close to releasing its own state-controlled cryptocurrency. While some critics are saying that the profitability of Bitcoin mining is down considerably, it seems a number of companies are willing to spend big to increase their stake in the industry.Images courtesy of Wikimedia/Vpetrov-71 and Pixabay.
Article Produced By Jeff Francis
A few years back, Jeff began hearing about Bitcoin and the rise of other cryptocurrencies. A proponent of allowing people to take economic power into their own hands, he has enthusiastically supported cryptocurrencies and the many benefits of blockchain technology. This interest propelled him to becoming a writer for, and later editor of, several crypto-focused websites. His goal with BitcoinerX is to provide timely news and analysis in an entertaining manner.
Comrade! Communist Party of China Now Promoting Blockchain
In an interesting twist, China is now promoting blockchain, albeit from a communist angle, while censoring dissenting views.
China has an interesting history with cryptocurrencies and blockchain technology. At one time, most of the Bitcoin trading took place in China, and crypto mining is still heavily associated with the country. The last few years have seen the communist central government work against virtual currencies, such as banning exchanges and putting the squeeze on miners. However, China is now actively promoting blockchain but is doing so while adhering to the party line.
President Xi Jinping of China recently endorsed blockchain technology in a major policy speech. The effect of the speech was to see the stocks of blockchain-associated companies rise dramatically. Such a move seems like a good one, but there is a price to pay.That price is that the innovative technology must bend to the will of the communist government, which can be seen in several forms. The first form is the use of censorship that is being used to help promote blockchain. The central government is now banning articles that say blockchain is a scam, according to popular Twitter user cnLedger. Such a circumstance is a complete 180 from the prevailing attitude of just a year ago. However, blockchain technology is now useful to the country’s regime, so it gets the green (or should that be red, eh, comrade?) light.
Another form of how blockchain and communism are being linked is through an app. The Communist Party of China (CPC) has released an app called Xuexi Qiangguo that was designed by the Alibaba Group. This app teaches a course on Bitcoin and blockchain, but the kicker is that it does so through the political theory espoused by Xi Jinping, who just happens to be the Communist Party General Secretary in addition to being the Chinese president. The reach of the Xuexi Qiangguo app is huge. It is reported that it already has 100 million users. The course on Bitcoin and blockchain, taught by Chen Kang, can also be found on Xuetangx, a MOOC platform with 16 million users that was founded by Tsinghua University, the college that Chen Kang works at.
The Xuexi Qiangguo app is not benign. Researchers from German cybersecurity company Cure53 and the Open Technology Fund, sponsored by the U.S. government, have found some malicious code within the app. The researchers say the code found in the app resembles “a backdoor which is able to run arbitrary commands with superuser privileges.” If run, the app’s code will allow a person to enjoy full system-wide administrative access. This means a bad actor could use the app to modify files, download software, or even install a keylogger. The app also scans other apps and sends the collected info (activity log, user info, etc.) to whoever is behind the malicious code. Cure53 also found that the app gives the Chinese government the ability to know “the location of every citizen at any single point in time.”
Make no mistake. China is deadly serious about being the world leader in regards to blockchain technology. A majority of the world’s blockchain-associated patents have been filed in China, and the central bank is reportedly close to launching its own state-controlled cryptocurrency. Mark Zuckerberg recently warned Congressional members that if the U.S. does not actively support cryptocurrency and blockchain, then it will cede the field to China.
Back in 2015, it was exhibited that the next 10 years would be all about Market Networks whereas the last decade was focused on Social Networks. There were a few companies mentioned that were deemed to be market networks and essentially had the key factors of a market network and what it is purported to be. However, since then we have gone next level with blockchain technology. But has any of those market networks actually adopted this new and beneficial technology?
So what exactly is a Market Network?
A market network is a combination of a marketplace and a social network that includes SaaS which helps the individuals in the market network to work with customers and other service providers to build relationships rather than just quick transactions we experience on eBay or Amazon.
Marketplaces are essentially about selling your product or service even though reviews of goods purchased by the customer are there to guide potential customers’ purchasing decisions. However, marketplaces are predominantly where buyers and sellers meet for one-off transactions. Typically, marketplaces are an accumulation of sellers.
We all know what social networks are. Over the last 15 years, most of us have participated in Facebook or Linked to communicate with people and build relationships for whatever reason. However, commerce is not the core objective of social networks.
SaaS (Software as a Service)are business applications, including email and collaboration, customer relationship management (CRM), billing/payroll processing, sales management, human resources management, financial management, database management, enterprise resourcing planning (ERP), content management, and document editing and management.
So what we had was two separate places for your online presence and commerce. A marketplace to sell stuff, and a social network to build relationships. The SaaS doesn’t exist on these platforms, that’s separate and an added expense for business owners and marketers.
But what if you provide a service that is more involved than a simple buy-sell transaction. On top of that, what if you need collaboration with other professionals in your industry to form a team to provide a complete service?
Well, that’s what market networks are all about. In the market network, you are a service provider, but also a person with a profile, with history, reviews, score, etc. You can team up with other people to provide a complex service to a customer and channel the workflow through a SaaS solution.
How Does Blockchain Fit Into The Market Network Model?
To be successful in online branding and operating a business in the ever-expanding internet world, you must maintain your profile in many networks, social and market. It’s difficult to effortlessly scale your reputation from one network to a different one. They are pretty much isolated from each other and they can’t communicate with each other, nor do they really want to because they generally belong to someone. And it so happens that “someone” is never the community that brings value to the platform. It’s not easy for a centralized market network to diversify among service providing platforms and it takes a lot of effort to build and maintain individual profiles that you can only use in an isolated network.
What if your online identity always belonged to you, not a service or platform? And also, the reputation of your branding was maintained by the network and that network also belonged to you? In other words, a decentralized reputation that would enable you to plug into any other centralized network. You see, when your reputation is decentralized, the entire digital space becomes your network.
Blockchain is the ultimate framework or infra-structure tool that gives individuals true ownership of their digital selfhood and reputation. It creates self-sovereignty.
Decentralization In The Marketplace
Decentralization has many features that are beneficial for industries and users around the world. Reduced fees, increased efficiencies, removal of biased agendas and tiers of corruption and greed.
There have been companies like Airbnb and Uber that introduced a new era allowing people to rent out and monetize items. Or eBay and Etsy allowed people to sell products online and Upwork and Fiverr helped freelancers to sell their services. At this stage, these companies are all centralized and very linear with no collaboration between them.
A decentralized marketplace allows for true peer-to-peer transactions without centralized authorities taking their fees. This is made possible through blockchain technology and smart contracts. We no longer need the trusted third party verifying sellers and ensuring payments.
Decentralization In Social Media
The traditional social media platforms are losing their edge, and their users have taken a massive beating. While some have given up on their social media world completely because it’s affecting their psychological well-being, some have become very disappointed with the fact that the benefit of their work was being passed onto the site more than them or their hard work has been deleted by centralized authorities due to hidden agendas.
If this wasn’t enough, user data, which is meant to be confidential, is being made available in the open market, with governments, advertising companies and more having access to it. This has made users apprehensive about sharing personal details of their lives.
Blockchain is going to transform the user experience in social media networking. These are important factors like the users’ information is encrypted on the blockchain network, so the privacy of data is maintained. Also, a platform can offer monetary compensation and loyalty programs for any and all activity performed by the user. Imagine producing viral content on the platform and getting paid for it? This does not happen on traditional social media, fast becoming a product of drama, agendas, and antiquity.
There are upcoming platforms that are classed as social media on the blockchain whereby you can monetize your blogs, some even have a messaging app integrated, but it stops there. Imagine a complete Market Network as described above that is decentralized, pluggable, and portable which are key components and that have the capabilities to have your marketing, blogging, Storefronts, in fact, all your branding goes viral across all platforms in the internet space?
Enter Markethive – Embracing Blockchain Technology
Markethive is a social marketplace, digital media platform for entrepreneurs that have the combined power of Facebook/LinkedIn, Marketo/Hubspot and Amazon/eBay along with Crypto News Sites like Cointelegraph/Bitcoin.com. Delivering a dynamic social network, integrated with Inbound Marketing (SAAS), numerous commerce platforms, storefronts coupled with augmented reality, and multiple traffic portals, built on the blockchain.
Does It Pay?
Markethive is a next-generation Market Network and the first to adopt blockchain technology that has positioned itself as a complete ecosystem for Entrepreneurs. Using the latest technology, it provides prosperous solutions for all business owners, marketers who require an online presence. Including Markethive’s own Coin (MHV) and Crypto Exchange for ease of liquidity as well as purchasing products and services within the Markethive ecosystem.
Creating a “Universal Income” for entrepreneurs, Markethive is delivering an infinity airdrop incentive to new subscribers, Bounty, and Loyalty programs and has set up the entire system with faucet like or micropayment rewards for using the system, including “Tips” instead of “Likes” This means the whole system is monetized for the benefit of all users. The income potential is huge and the MHV Coin ensures that all users will earn money for everything they do in Markethive.
So What Do You Get?
Markethive's functionalities include SEO features, Analytics, Customer Management System, Traffic Portals, Capture Page and Lead Creation, Profile Page, Resume, E-commerce portals, Video Conferencing, Blogging Platform, Messaging, Press Release, and Sponsored Article distribution, Banner Program and much more. Also included are significant training tutorials and weekly live support meetings, with a step by step automated tutorial system in the works.
Inbound Marketing is a key component of Markethive’s embodiment. Markethive plugs into all Social Media, simplifying your marketing efforts, with automated email campaigns allowing for lead flow into your designated business. Markethive incorporates collaboration building relationships within the community.
Did I mention that the inbound marketing component is free to use while being rewarded with MHV? The only thing that is more rewarding beyond your wildest dreams is the loyalty program which enables you to profit from all facets of the Markethive system including receiving dividends from the company’s net profits. It basically means you as part of the Markethive community own a piece of Markethive, unlike the centralized companies with their venture capitalists and shareholders.
The potential of what the blockchain offers is extremely exciting. And although we are seeing some companies integrating the blockchain as they see what it can do for them and the world holistically, large scale adoption may still take some time. However, the unconventionality of this next-level technology shouldn’t deter marketers, business owners, entrepreneurs, in fact, anyone with a social or marketplace profile from embracing this new protocol given that it offers people many advantages in the form of transparency, security, anonymity, and performance with the added benefit of self-sovereignty.
In the next article, we will explore Inbound Marketing and blockchain. Stay tuned…
A Crypto/Blockchain enthusiast and a strong advocate for technology, progress, and freedom of speech. I embrace "change" with a passion and my purpose in life is to help people understand, accept and move forward with enthusiasm to achieve their goals.
Volvo: Cobalt Used In Car Batteries Will Be Recorded On Blockchain
Volvo Cars Company announced that the Cobalt used in the electric car batteries
will be recorded or tracked on the blockchain, reported on 06 November 2019. According to the report, this new announcement of the use of blockchain traceable Cobalt is followed by Volvo’s first fully electric car named the XC40 Recharge announcement that was published last month. For the further development or implementation of this new technology, Volvo already did an agreement with its two car’s battery suppliers named China-based CATL and South Korea-based LG Chem. As per the deal, These two battery suppliers will be responsible to fulfill the requirement of batteries in Volvo’s new model cars for the next decade as well as they have to use blockchain technology for
tracing required raw materials.
“Blockchain technology, which establishes a transparent and reliable shared data network, significantly boosts transparency of the raw material supply chain as the information about the material’s origin cannot be changed undetected.”
– Volvo Cars Company
The raw material traceable blockchain system is already ready for use as it was successfully tested in august by blockchain firm Circulor and software giant Oracle on
CATL’s supply chain.
“We have always been committed to an ethical supply chain for our raw materials, With blockchain technology we can take the next step towards ensuring full traceability of our supply chain and minimising any related risks, in close collaboration with our suppliers. ”
– head of procurement at Volvo Cars, Martina Buchhauser
Previously, The encrypted peer to peer messaging application Telegram has launched the test wallet for its native cryptocurrency GRAM token. Telegram has launched the wallet for Windows, iOS and Linux users. Users can download the gram wallet from the official website.
China removes the bitcoin mining from the ban list of industries,
and now the bitcoin mining industry has no restrictions or danger from the regulatory department of china, reported on 06 November 2019. According to the report, it is confirmed from the information given in the newly published edition of Industrial Structure Adjustment Guidance Catalog (2019) where bitcoin mining is not listed in the elimination list of industries that are going to be banned after taking final action in 2020.
Previously, China published a list of industries that will be banned in 2020 where bitcoin mining was also listed in the ban list, but just now they published the documents again by doing some changes where bitcoin mining is also removed from the ban list.
This is really good news for the bitcoin because most of the hash power on the bitcoin network is from the bitcoin mining farms established in China.
China also a big producer of bitcoin mining equipment.
Last month, Hurun Report, research, media, and investment firm recently published a report named “Hurun China Rich List 2019” in which it featured 12 local cryptocurrency magnates. Last Week, The encrypted peer to peer messaging application Telegram has launched the test wallet for its native cryptocurrency GRAM token. Telegram has launched the wallet for Windows, iOS and Linux users.
Microsoft and Partners Make it Easier for Businesses to Issue Crypto Tokens
The cryptocurrency industry sees an influx of new tokens and assets on a regular basis.
The new service launched by Microsoft will only accelerate this trend moving forward. Microsoft has shown a keen interest in blockchain technology in recent years. It allows corporations and users to deploy ledgers as-a-service. This lowers the barriers to entry significantly for novice users and enthusiasts.
More Crypto Tokens are Coming
In a new announcement, the technology now shifts its focus to issuing crypto tokens. This is a new approach aimed directly at enterprise clients experimenting with blockchain-as-a-service. Any company can select a set of token-building templates and deploy their own offering accordingly. How the companies decide to use such tokens in the end, is entirely up to them. Potential use cases for this technology include loyalty rewards, incentives, and even letters of credit.
Creating such a new ecosystem where tokens can be issued and put to use directly is a bold move. It will also pave the way for building additional applications utilizing these new tokens accordingly. The new service is known as the Azure Blockchain Tokens platform. When it launches, there will be a list of “examples” for token issues to look at. It is also worth pointing out this is not just a Microsoft venture either. The company received the support from IBM, R3, and Digital Asset. It is plausible to assume this list will be expanded upon further as more time progresses.
University Researchers Accuse Tether of Manipulating Bitcoin Prices in 2017
Many cryptocurrency enthusiasts like to think back to 2017.
It was the year when Bitcoin and virtually all altcoins noted their last all-time high values. To this date, it still remains unclear where this sudden surge came from. Many people still feel Tether is partially to blame for this series of events. Influencing cryptocurrency prices can be done by anyone and everyone. The scale at which that impact will be visible is a different matter entirely.
More Tether Manipulation Accusations
As far as the 2017 cryptocurrency push was concerned, many people suspect big holders made their play accordingly. A new study created by John Griffin and Amin Shams seems to hint at one sole entity being the catalyst. They claim it only took one wealthy speculator to manipulate all of the markets with relative ease. More specifically, the researchers point a finger of blame at Tether. The company issues the USDT stablecoin which is commonly used across trading platforms.
While it is not the first time Tether is named in regards to potential market manipulation, the company refutes any and all claims. Tether’s General Counsel Stuart Hoegner went as far as stating how the research is flawed in many different ways. It is evident that this will not be the last accusation of Tether either. The company has been under scrutiny for quite some time now. In recent months, the company also became involved in a lawsuit. The outcome of that investigation is still pending at this time. Whether or not this research factors into that lawsuit, remains unclear.
What Companies Have Already Adopted Blockchain Technology?
Over the last two years, we’ve seen a growing amount of interest and even hype towards cryptocurrencies and a new world economy. It seems that hype is now subsiding and giving way to more of a natural, organic growth of Blockchain Technology. Banking is only the beginning and now society can benefit from Blockchain Technology in many other industries. This will transform the way companies do business so ultimately the use cases for a transparent, immutable ledger of transaction data are virtually endless.
Since the blockchain is a decentralized entity, it requires no centralized supervision which makes it resistant to fraud. From logistics to real estate, digital ID management, social media and now the next-generation market network, corporations around the world are making overwhelming advances in the adoption of Blockchain Technology. Here a just a few companies that already have integrated the blockchain into their operations.
FedEx is one of the world’s biggest logistics management companies and handles billions of dollars worth of cargo every year. FedEx has now become the first big shipping giant to incorporate Blockchain technology into their supply chain management. They are using Blockchains to track high-value cargo and are extending the functionality to almost all their shipments. In addition to that, they are also helping to develop the Blockchain-based industry standards for supply chain logistics establishing themselves as pioneers in this field.
FedEx together with two other major international delivery services firms DHL Express and UPS is a member of the Blockchain in Transport Alliance. In September of 2018, the firm joined Hyperledger, an open-source project established to improve cross-industry blockchain technologies. The collaboration will purportedly enable the company to build blockchain-based industry-grade applications, platforms and hardware systems.
The tech giant Microsoft has embraced Blockchain Technology since its inception. Microsoft had started accepting Bitcoin payments on its website in 2014 when almost no one had even heard of cryptocurrencies. Microsoft has also secured 40 patents related to the use of Blockchains as payment gateways and for secure storage.
Bill Gates and several of his nonprofit organizations have looked at Blockchains to try to improve their structure. Microsoft is also letting businesses and developers deploy their own Blockchain using Stratis in Microsoft Azure. Microsoft Azure is a cloud computing service created by Microsoft for building, testing, deploying, and managing applications Microsoft-managed data centers.
Burger King – Russia
In 2017, fast-food giant Burger King launched its own cryptocurrency token in Russia, called WhopperCoin on the Waves platform. Named after the brand’s flagship burger, WhopperCoin is Burger Kings’s attempt at using Blockchain to power their rewards program. What’s unique about this approach is that unlike traditional rewards programs, WhopperCoin tokens can be stored online, traded or even transferred to other people using the Waves platform. Customers would receive a WhopperCoin for every Rouble they spend at Burger King and correspondingly a Whopper could be bought for 1700 WhopperCoin.
Notably, Starbucks is working with Microsoft to develop a blockchain-based supply chain tracking system and mobile app that will allow customers to track the supply chain journey of the beans they buy and the coffee they drink. … Last year, Starbucks worked with more than 380,000 coffee farms to ensure ethical sourcing.
KIK is one of the biggest online chat platforms with over 300 million active users. KIK concluded its ICO in 2017 and had recently integrated the Kin cryptocurrency in their platform which can be used to make payments to other users of the platform. Although they have been through some trials and tribulations, they are moving forward with thanks to the Medialab acquisition. The main attraction of Kik that sets it apart from other messaging apps is its anonymity.
The Kin Foundation announced it is able to offer zero-fee transactions by using its unique network. KIN is the cryptocurrency and although blockchains are often developed by a community, some are built by companies, which can afford to cover transaction costs. Kik has managed to eliminate transaction fees in the way.
IBM is shaping up to be one of the giants in the cryptocurrency space by providing the backbone of Blockchain-related services to businesses. Using the Hyperledger Blockchain creator tool, they can help the organizations to create their own distributed ledger and smart contract systems. They have already partnered with some businesses that deal with logistics to increase efficiency and lower costs for them.
The partners include logistics giants like Walmart and banks like the Bank of Montreal (BMO), CaixaBank, Commerzbank, Erste Group, and the United Bank of Switzerland (UBS). With food logistics as in the case of Walmart, the goal is to make the supply chain more secure so that contamination can be reduced. While the banks have come to develop a Blockchain trade finance platform called Batavia.
Walmart and nine other food companies have partnered with IBM to create a Blockchain for tracking food globally through its supply chain. Real-time data will be captured at every point, on every single food product. The Food Trust Blockchain, which includes Nestlé SA, Dole Food Co., Unilever, and several others.
These companies have been collaborating with IBM on the initiative since 2016 and began conducting trials of the product in August of last year. Their goal is to improve the companies’ ability to identify issues involved with food recalls, such as tracing outbreaks more quickly to limit customer risk. Walmart appears to have joined the initiative after the outbreak of salmonella in the supply chain last year.
Overstock has been one of the biggest advocates of Blockchain Technology from the beginning and lets users purchase all the items on their website using Bitcoin. The company sells home decor, furniture, bedding, and many other goods that are closeout merchandise.
Patrick M. Byrne, the founder of the company, is a staunch supporter of cryptocurrencies and has been outspoken about his commitment to decentralized currency. Byrne has made it quite clear that he wants to run a blockchain business, not a retailer. The company has made some moves into blockchain over the past few years.
It launched the Medici Ventures investing firm to focus on blockchain technology, a public digital ledger of transactions, and has also developed its own tZero security tokens for e-commerce and trading. Since then, Byrne has stepped down as CEO of Overstock and president of Medici Ventures Jonathon Johnson has taken over. Johnson has been very instrumental in getting the company heavily invested in the blockchain business.
Huawei has rolled out its global blockchain which is a Cloud Blockchain where enterprises can develop, deploy and manage blockchain applications. Being one of the top manufacturers of mobile phones, they also want to use the Blockchain to create a better user experience and systemize the mobile industry further to reduce fraud and trickery.
Huawei claimed in a recent press release that, “Blockchain Technology offers mobile carriers superb opportunities to support the transformation of business models through new network layers, which can revolutionize how data integrity is verified and value and rights are transmitted and tracked over the infrastructure to subscribers.”
Social Media And Blockchain
As the blockchain market evolves there is an increased interest from the social media giant, Facebook. Not sure how simple it will be to integrate a genuine blockchain, given they have 2 billion+ users which would mean scalability on a massive level. There’s also the key issue of the way it monetizes the personal data of its users. That actually threatens the privacy and user sovereignty that is crucial for blockchain. Twitter has also expressed an interest in the blockchain.
In a distributed ecosystem, built on a blockchain, the power lies with the people. In other words, there cannot be one singular entity with controlling powers over the rest of the network. This, among other things, protects against corruption and manipulation from the centralized entity. It also restores power to the community as a whole.
People are looking to migrate to better solutions for the sake of privacy and security alone. So while Facebook is looking for a way to implement blockchain into its network, others have already integrated blockchain technology at conception, making it a whole lot easier.
Currently, so-called Social Media platforms on the blockchain are mainly blogging platforms, like Steemit and Yours.org. Steemit pays its users to contribute by writing or curating content. In the case of Yours.org, the community pays to view the articles that are posted by the writer. This can range from $0.10 to a few dollars depending on how much the writer believes the readers will be willing to pay to view it.
Both Yours and Steemit have an upvoting system that also pays. You can earn Bitcoin SV with Yours.org if you create value, and Steemit pays in their three native digital currencies: SteemPower, Steem Dollars, and Steem, which can then be converted into BTC or other cryptos on 3rd party exchanges.
Minds.com is an open-source platform for content with encrypted messaging facilities built on the blockchain and has a growing user base that allows anyone to speak their mind and boost their content using its tokens. A free open internet is their goal and they are prepared to take all steps necessary to protect the users' rights.
Market Network and Social Media Combined
Markethive is a decentralized Market Network integrated with a social media interface with collaboration being a fundamental characteristic. Built on the blockchain with its own coin (MHV) is setting the pace of a new era in how we communicate and do business online.
State-of-the-art integrated inbound marketing platform, social network, blogging platform, eCommerce business services, ewallet, coin exchange, mining datacenter, faucet lead portals, Loyalty & Bounty programs and News Media & Content Publisher for success in the crypto-preneurial and entrepreneurial markets.
Markethive pays you MHV coin in the form of micropayments for every activity you execute on the platform. It’s not limited to creative blogging. You can tip members instead of likes which in turn earns more coin. At the moment you also receive 500 coins for just signing up as a free member. There are many more incentives to be part of this growing network including the Loyalty Program which will pay you dividends from the company’s net profits as Markethive continues to establish itself. Markethive is the first social/market network on the blockchain.
Markethive’s mission and objective are to pioneer “Universal Income” worldwide. To empower the novice through to the seasoned entrepreneur.
Social Networks Were The Last 10 Years. Market Networks Will Be The Next 10.
First, we had communication networks, like telephones and email. Then we had social networks, like Facebook and LinkedIn. Although it has been said Facebook has become a surveillance network masquerading as a social network.
It’s just a matter of time until nearly all independent professionals and their clients will conduct business through collaborative Market Networks and have a massive positive impact on how millions of people work and live, and how hundreds of millions of people buy and sell better services. Also be able to impart any and all information through blog casting without fear of being banned or spied upon, along with creating relationships of value and integrity.
Investments in blockchain startups are one of the indicators of the rise in the growth of the blockchain market. 2017 showed the potential for blockchain growth with a little over $1 billion in cryptocurrency investments. In 2018, there was a further increase in blockchain and cryptocurrency investments. This resulted in a cool $3.9 billion through venture ca[ital investments.
2017 has been described as the year of blockchain tourism, while 2018 was all about experimenting and testing blockchain technology. The time has come now for more companies to utilize it. As illustrated in this article we see many different industries adopting blockchain technology and because blockchain has numerous uses we will see a lot more companies integrating and using this technology to solve real-world issues.
A Crypto/Blockchain enthusiast and a strong advocate for technology, progress, and freedom of speech. I embrace "change" with a passion and my purpose in life is to help people understand, accept and move forward with enthusiasm to achieve their goals.
Chinese President Sparks Big Bitcoin Price Gains with Bullish Blockchain Speech 0 58
Chinese President Xi Jingping supports the blockchain and says the Chinese government needs to do more
in terms researching and investing in the blockchain, according to South China Morning Post. Xi is also the general secretary of the Communist Part of China Central Committee and chaired a meeting on the subject with other advisors taking part. Xi believes blockchain “will play an important role in the next round of technological innovation and industrial transformation”. “Major countries are stepping up their efforts to plan the development of blockchain technology. Greater effort should be made to strengthen basic research and boost innovation capacity to help China gain an edge in the theoretical, innovative and industrial aspects of this emerging field.”
What Xi’s Thoughts did to the Bitcoin Price
In just the last five days, the price of Bitcoin is exploding. It now stands at $9,360.67 after starting the trading day on October 24th, 2019 at $7,474. That’s a price gain of over 21%. The price briefly got up over $10,000 throughout the weekend before bouncing down to where it is today.
Is The Government’s Stance on Cryptocurrency Changing?
China banned an initial coin offering for a cryptocurrency exchange in 2017. The country wanted to curb enthusiasm around crypto to protect consumers in theory. China used to be the world’s largest influence on Bitcoin trading volume but that’s since changed because of the regulatory crackdown. However, the country still does maintain a major influence in the cryptocurrency mining space. So while it’s nice to hear Xi extolled the virtues of the blockchain, the reality is the Chinese government has a history of tightly controlling what its citizens can and can’t do when it comes to money, politics and social issues. That in fact is part of the reason that China had such a stranglehold on Bitcoin trading volume is that Chinese people have the desire to keep their savings out of the hands of the government. Most Bitcoin and blockchain enthusiasts know that a big portion of the transactions that go through the world’s most valuable blockchain are the result of people trying to escape oppressive regimes.
Hyperinflation in Venezuela
The International Monetary Fund estimates that the inflation rate of the Venezuelan Bolivar will reach a staggering one million percent by the end of 2019. While Bitcoin’s price worldwide is usually listed on charts in comparison to the American dollar, that doesn’t mean that everyone gets access to Bitcoin at the same standard price. It’s estimated that the price of Bitcoin in Venezuela is doubling every single day. That sounds huge and it is, but when the price of the local fiat currency is exploding by a million percent per year, it makes sense to put that money into Bitcoin as quickly as possible. Scarcity = value, and if people converting the Bolivar are lining up at Venezuelan exchanges all at the same time, it only makes sense that the price will continue to skyrocket. When a handful of countries experience the same thing, the overall volume being traded and acquired on the international market goes up.
Greece’s Government Debt Crisis
Known as The Crisis, Greece’s problems ironically stem from the same 2008 Global Economic Crisis that sparked the invention of Bitcoin and the blockchain network. The Crisis led to citizens quickly becoming impoverished. Overall, the situation in Greece surpassed the U.S. Great Depression as the longest recession on record. During this time, bond yield spreads have grown further and further apart and the government’s debt reached nearly 300 billion Euros, causing risk insurance and credit default swaps to rise in price, creating a whole system of growing debt. Of course this led to more and more people searching for alternative ways to store value. This meant Greeks began putting money into traditional and digital gold, or Bitcoin.
One Other Potential Reason for Bitcoin’s Recent Surge
Bakkt is a Bitcoin futures exchange most serious traders were really excited about earlier this year and even going back to 2018. As soon as it launched, enthusiasts expected Bitcoin to go all the way to the moon. It’s just happening now, a little bit later than anybody thought it would. Just in the last 24 hours, trading futures contracts on Bakkt has gone up 260%. This is all in anticipation of future events related to innovation in China. What comes from Xi’s comments in the long term remains to be seen, but for now it seems the market is already pricing in potential.
Craig Wright Backs out of 500,000 BTC Lawsuit Settlement 0 11
Craig Wright, the infamous programmer claiming he’s the inventor of Bitcoin, is backing out of a 500,000 BTC settlement with the Kleiman estate. He says he can’t afford to finance the payout.
The Case Is Back On
Wright lost his case against Kleiman in August. Courts deemed he couldn’t prove he’s solely responsible for half a million Bitcoins he mined with Kleiman prior to 2014. That means the case that ended less than 90 days ago is now being re-opened. Wright battled with Ira Kleiman’s estate through his living relative David Kleiman. At the time of the court’s decision, the 500,000 BTCs were worth over $5 billion.
A motion filed on November 1st in a Florida courtroom states that both parties have reached a non-binding agreement in principle following several conference calls and in-person meetings. The plaintiffs were claiming they were no longer pursuing active litigation, but they found their efforts to be a waste of time. The law firm representing the plaintiff’s case wrote in a motion that on October 30th, 2019, they were informed Mr. Wright could no longer afford to finance the settlement and that he was “breaking” the non-binding settlement agreement.
So What’s Next?
Lawyers representing the Kleiman estate are now preparing for a new court date on March 30th of next year.
Wright is Now Fighting Back against an Old Deposition
Roche Freedman is now working to obtain a deposition of James Wilson, a chief financial officer of Craig Wright’s companies in Australia. He worked for Wright between 2012 and 2013. The plaintiffs think the comments Wilson made during that deposition are going to be crucial to the case. He was the one looking over Wright’s companies when they were sold to the Kleiman estate in exchange for Bitcoin. Wilson will be visiting Washington on November 8th to be deposed once again.
In lieu of that upcoming date, Wright’s lawyers are suggesting they will not consent to a deposition because they haven’t received 14 days’ notice for an out of state deposition as required by the law. The court documents also show the team will decide whether or not they’re willing to go through with a video deposition within the next week. This is all quite a bit of red tape to go around for Kleiman’s estate and Wright’s conduct has certainly put a strain on things.
Emails, invoices and BitMessages were analyzed over the summer time and investigator Matthew Edman uncovered the fact there’s a good chance Craig Wright tampered with documents relating to the Tulip Trust, an account where funds were being held. This has created an atmosphere of doubt around Wright’s integrity, although a cross examination from opposing lawyers gave them a chance to refute claims. The story around Wright and the $10 billion-plus within the Kleiman estate just keeps getting more and more interesting. And it seems, it’s not exactly over yet.