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October is historically a positive month for Bitcoin. Bitcoin typically experiences an upward trend in October. Various factors combined to push Bitcoin to new heights this month. Historically, since 2013,…

Market Analysis & Insights

Descending Broadening Wedge Says Bitcoin Is Going To $90,000

September 19, 2024

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Recent analyses have uncovered a bullish pattern on the Bitcoin chart, suggesting the cryptocurrency could soar as high as $90,000. Crypto analyst Jelle highlights this potential price rally and shares…

Investing & Trading

Nervos Network Bulls Add More Profits To Their Wallets With Gambling Token Mpeppe

September 19, 2024

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The cryptocurrency landscape is ever-evolving, with new opportunities emerging rapidly. Recently, the Nervos Network (CKB) has made headlines with impressive growth, climbing by 119% within just a week. As investors…

Investing & Trading

10 Things You Need to Know Before Investing in Cryptocurrency

September 16, 2024

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Cryptocurrency has become increasingly popular as an investment opportunity, with many investors hoping to cash in on the potential profits that can come with trading digital currencies. However, investing in…

Blockchain Technology

Blockchain in Today’s Realities: Transforming Industries and Shaping the Future

October 4, 2024

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In the past decade, blockchain technology has evolved from a niche concept closely tied to cryptocurrencies into a transformative force with broad applications across numerous industries. It has revolutionized how…

Blockchain Technology

Unlocking the Power of Blockchain: A Comprehensive Guide to Understanding Blockchain Technology

September 2, 2024

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In the realm of digital innovation, few technologies have garnered as much attention and potential as blockchain. From cryptocurrencies to supply chain management, blockchain technology can revolutionize industries across the…

Bitcoin’s Future in Payments: Overcoming Stablecoin Dominance with Fiatless Fiat

While stablecoins have become the dominant players in the cryptocurrency payment market, some Bitcoin developers are proposing alternatives that could reinstate Bitcoin’s role as a viable payment option. One such developer, Dorier, recognized the need for democratizing Bitcoin payment processing and launched BTCPay Server, a free and open-source solution, seven years ago. Despite the project’s success, the landscape of cryptocurrency payments has shifted dramatically, with stablecoins increasingly sidelining Bitcoin. The Rise of Stablecoins Stablecoins have surged in popularity, primarily driven by demand for stable currency options, especially in the form of US dollars. As these dollar-pegged assets have gained traction, they have begun to dominate the cryptocurrency payments market. This shift has prompted concerns among Bitcoin enthusiasts about the implications of relying on stablecoins, which could reinforce the existing financial system that Bitcoin aims to disrupt. The prevalence of stablecoins poses a challenge for those who advocate for Bitcoin as a tool for financial sovereignty. As the market leans toward stability, Bitcoin’s original vision of decentralization and independence from traditional financial systems is at risk. Many in the Bitcoin community are left questioning how to maintain Bitcoin’s core principles while navigating a landscape increasingly defined by stable assets. A New Proposal: Fiatless Fiat In response to these challenges, Dorier introduced a new concept at BTCPay Server’s recent annual community gathering in Riga: “fiatless fiat.” This proposal aims to create a Bitcoin-native alternative to treasury-backed stablecoins like Tether and USDC. By leveraging the capabilities of the Lightning ecosystem, Dorier believes this approach could help preserve Bitcoin’s foundational vision. Understanding Synthetic USD The concept of synthetic USD is not new. In 2015, BitMEX co-founder Arthur Hayes detailed how to use futures contracts to create synthetic US dollars. Although this idea did not gain widespread acceptance at the time, it offered traders a method to hedge against Bitcoin’s volatility without selling their holdings. For those unfamiliar with financial derivatives, a synthetic dollar can be created when two parties enter a contract to speculate on the price movement of an underlying asset, in this case, Bitcoin. Traders can adopt opposite positions in a futures contract to protect themselves from price fluctuations while retaining their Bitcoin investments. Recently, services like Blink Wallet have implemented this idea through the Stablesats protocol. Stablesats allows users to peg a portion of their Bitcoin balance to a fiat currency like the US dollar without converting it. In this model, the wallet operator acts as a “dealer,” hedging the user’s pegged balance using futures contracts on centralized exchanges. This process ensures that the user’s pegged balance maintains its value relative to the selected currency, though it comes with notable trade-offs, including relinquishing control over one’s funds. Innovating with Stable Channels During the Riga gathering, Dorier highlighted another potential solution: stable channels, a concept recently explored by Bitcoin developer Tony Klaus. This mechanism allows users to hedge their Bitcoin exposure through a decentralized approach over the Lightning network. Stable channels connect users who seek to hedge their Bitcoin holdings with “stability providers,” effectively creating a shared Bitcoin balance. Unlike the centralized models used in traditional exchanges, stable channels leverage the rapid settlement capabilities of the Lightning network. The balance can be adjusted in real time to respond to market price fluctuations, allowing for a dynamic allocation of funds according to the desired exposure of the “stability receiver.” This innovative mechanism aims to minimize the risks associated with centralization while maintaining the flexibility needed to address Bitcoin’s volatility. By using stable channels, participants can engage in a peer-to-peer system that offers the stability of a fiat currency without the drawbacks of relying on traditional financial intermediaries. Implications for Bitcoin’s Future The introduction of proposals like fiatless fiat and stable channels could reinvigorate Bitcoin’s role in the payments landscape. As Bitcoin advocates grapple with the dominance of stablecoins, these innovations provide pathways for maintaining Bitcoin’s ethos of decentralization and financial sovereignty. By fostering alternative solutions that align with Bitcoin’s core principles, the community can work toward a future where Bitcoin is not only seen as a store of value but also as a legitimate medium of exchange. The challenge lies in convincing both users and merchants of the benefits of adopting these new models, especially as stablecoins continue to gain traction in the market. Looking Ahead: The Evolution of Cryptocurrency Payments As the cryptocurrency ecosystem continues to evolve, the development of alternatives to stablecoins will be critical for Bitcoin’s resurgence in the payment processing arena. Initiatives like BTCPay Server, along with new concepts such as stable channels, showcase the creativity and resilience of the Bitcoin community in addressing emerging challenges. Ultimately, the future of cryptocurrency payments may hinge on the ability to strike a balance between stability and decentralization. If successful, these alternatives could redefine the landscape, allowing Bitcoin to reclaim its position as a leading payment solution. Conclusion: A Call to Action for the Bitcoin Community The ongoing rise of stablecoins presents both challenges and opportunities for the Bitcoin community. As enthusiasts and developers continue to innovate, the emergence of solutions like fiatless fiat and stable channels offers hope for preserving Bitcoin’s vision of financial sovereignty. To achieve this, collaboration among developers, merchants, and users is essential. By working together to adopt and promote these new models, the Bitcoin community can navigate the complexities of the cryptocurrency payment landscape while staying true to the principles that underpin Bitcoin’s creation. The time is now for Bitcoin advocates to rally behind these innovations and champion a future where Bitcoin is not only a store of value but also a cornerstone of the payment ecosystem. The Risks and Rewards of Fiatless Fiat and Stable Channels As the conversation around “fiatless fiat” and stable channels gains traction, it’s essential to recognize the inherent risks associated with these innovative concepts. While they offer a compelling alternative to traditional stablecoins, the potential pitfalls cannot be overlooked. The Risks of Stability Providers One significant concern arises from the potential exposure of stability providers who take leveraged long positions >>Read more
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Understanding Cryptocurrency: How It Works, Key Examples, and the Mining Process

Cryptocurrency is a digital or virtual form of money that uses cryptography for security. It operates on a decentralized network based on blockchain technology. In this post, we’ll explore what cryptocurrency is, and how it works, provide examples of popular coins, explain the mining process, and discuss why the supply of many cryptocurrencies is limited. What is Cryptocurrency? Cryptocurrency is a type of digital asset designed to work as a medium of exchange. Unlike traditional currencies issued by governments (fiat currencies), cryptocurrencies are decentralized and rely on cryptographic techniques to secure transactions and control the creation of new units. The core technology behind most cryptocurrencies is blockchain. Decentralization: Cryptocurrencies operate on a decentralized network of computers (nodes). Unlike traditional banking systems, which are centralized and controlled by a single entity, cryptocurrencies are maintained by a network of users and nodes that validate transactions. Blockchain Technology: A blockchain is a distributed ledger that records all transactions across a network of computers. It consists of a chain of blocks, each containing transaction data. Each block is linked to the previous one, creating a secure and immutable record of transactions. How Does Cryptocurrency Work? Cryptocurrencies function through a combination of cryptographic algorithms and decentralized networks. Here’s a step-by-step breakdown: Transaction Creation: When a user wants to send cryptocurrency, they create a transaction request. This request includes the recipient’s address, the amount being sent, and a digital signature to verify the sender’s identity. Transaction Broadcasting: The transaction request is broadcast to the network of nodes. These nodes are responsible for validating and processing the transaction. Transaction Validation: Nodes validate the transaction by checking the digital signature and ensuring the sender has sufficient funds. This process helps prevent double-spending (spending the same funds more than once). Block Formation: Validated transactions are grouped together into a block. This block is then added to the blockchain. In a proof-of-work system, miners compete to solve a cryptographic puzzle to add the block. Consensus Mechanism: The network reaches a consensus on the validity of the block and the transactions it contains. Different cryptocurrencies use various consensus mechanisms, such as proof of work (PoW) or proof of stake (PoS). Transaction Completion: Once a block is added to the blockchain and confirmed by the network, the transaction is considered complete. The recipient can now access the received funds. Examples of Popular Cryptocurrencies There are thousands of cryptocurrencies, but here are some of the most well-known: Bitcoin (BTC): Launched in 2009 by an anonymous person or group known as Satoshi Nakamoto, Bitcoin is the first and most widely recognized cryptocurrency. It serves as both a store of value and a medium of exchange. Bitcoin operates on a proof-of-work consensus mechanism and has a capped supply of 21 million coins. Ethereum (ETH): Created by Vitalik Buterin and launched in 2015, Ethereum is a decentralized platform that enables the creation of smart contracts and decentralized applications (dApps). Unlike Bitcoin, Ethereum has a more flexible blockchain and supports a wider range of applications beyond digital currency. Ripple (XRP): Ripple, launched in 2012, focuses on facilitating real-time, cross-border payments for financial institutions. Its consensus algorithm differs from traditional proof-of-work and proof-of-stake systems, allowing for faster transaction processing. Litecoin (LTC): Created by Charlie Lee in 2011, Litecoin is often referred to as “digital silver” compared to Bitcoin’s “digital gold.” It offers faster transaction times and a different hashing algorithm (Scrypt), aiming to provide a more efficient alternative to Bitcoin. Cardano (ADA): Founded by Charles Hoskinson, one of Ethereum’s co-founders, Cardano is known for its research-driven approach to blockchain development. It uses a proof-of-stake consensus mechanism and aims to offer a more scalable and sustainable blockchain platform. What is Mining? Mining is the process by which new cryptocurrency coins are created and transactions are verified and added to the blockchain. It involves solving complex mathematical problems to secure the network and validate transactions. The mining process typically includes the following steps: Transaction Verification: Miners collect unconfirmed transactions from the network and validate them. This involves checking that the transactions are legitimate and adhere to the network’s rules. Puzzle Solving: To add a block to the blockchain, miners must solve a cryptographic puzzle. This puzzle requires significant computational power and is designed to be difficult to solve but easy to verify. Block Creation: Once a miner solves the puzzle, they create a new block that contains the verified transactions. This block is then broadcast to the network. Consensus and Addition: Other miners and nodes in the network verify the new block. If the majority agrees that the block is valid, it is added to the blockchain, and the transactions are considered confirmed. Reward: The miner who successfully added the block receives a reward in the form of newly created coins and transaction fees. This incentive encourages miners to participate in the network and secure it. Why is the Coin Supply Limited? The supply of many cryptocurrencies is limited for several reasons: Scarcity and Value: By capping the total supply of coins, cryptocurrencies create scarcity, which can increase their value over time. This principle is similar to precious metals like gold, where limited supply can drive up demand and price. Inflation Control: A fixed supply helps control inflation. Without a cap, the continuous creation of new coins could lead to devaluation and loss of purchasing power. Economic Incentives: Limiting supply creates a sense of urgency and incentivizes early adoption. As the total supply nears its limit, the value of the remaining coins may increase, rewarding early participants and miners. Network Security: In proof-of-work systems, the block reward decreases over time, which can help maintain network security while transitioning to a system where transaction fees play a more significant role. Conclusion Cryptocurrency represents a revolutionary shift in how we think about money and financial transactions. By leveraging blockchain technology and cryptographic principles, cryptocurrencies offer a decentralized and secure alternative to traditional financial systems. Understanding how they work, the mining process and the reasons behind supply limitations provides valuable insights into >>Read more
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Ruslan Tymofeev: The future of the business world is for young entrepreneurs

Business development trends are growing all over the world. In addition, the audience of businessmen is changing as well by welcoming young millionaires who can make strides at a very early stage. For these trends, Ukraine is gradually introducing alternative education to grow young Ukrainian businessmen. The founder of Adventures Lab venture investment fund, Ruslan Tymofieiev (Ruslan Tymofeev), comments on why investors are heeding the new generation and emphasizes the importance of considering an American approach to developing an entrepreneurial spirit in a child. The business world is very diversified. It is possible to identify what trends and areas are more successful in each country year by year. The way people create and promote their ideas, develop their business plans, and appeal to potential investors to launch their projects underlines the cultural values introduced by each society. Ruslan Tymofieiev believes that an entrepreneurial spirit should be taught at the early age of a child. It starts with simple activities by selling products to potential clients. The investor notes that the United States is an excellent example. 10-year-old kids start selling lemonade to their neighbors and passers-by. They set up a table on the house’s lawn and provide a small business by attracting “clients.” In such a way, kids learn to keep a dialogue with them, so people buy it, drink it, and praise kids for their good job. Later, teenagers become scouts who sell cookies. Here, the business strategy involves a more profound concept. Scouts approach passers-by, and go from door to door, offering their cookies. Thus, they learn to introduce their business idea by explaining why people should buy their cookies and where the money will be contributed. On the other hand, such communication might bring discomfort. However, it reveals the practical basis of running a successful business in the future which is invaluable. Moreover, by pitching and communicating, children exchange experiences that positively affect their business mindset. Ruslan Tymofieiev compares the American concept of raising young businessmen with other countries. For example, Brazil boasts many football players because Brazilian kids play football. Likewise, Africa has great Olympic runners because African kids play Olympic runners. Therefore, the US is the leader in technological progress because raising kids with the mindset of an entrepreneur will know how to build America in the future. When it comes to Ukraine, Ruslan Tymofieiev (Ruslan Tymofeev) notices that Ukrainian women teach their children to avoid talking to strangers. And they have reasons for that. But this leads to poor communication skills in the future. The country indeed has a lot of talented and smart children. They can develop innovative business ideas or revolutionary technology but can’t pitch them appropriately. Taking this into account, GoGlobal’s Business Camp was launched. This project involves an education format that gives children exactly what is the main treasure and the key to success in the modern world. Moreover, it allows the development of crucial skills like communicating, protecting, promoting, and selling their ideas. Ruslan Tymofieiev was invited as a mentor to Business Camp. He shared his knowledge of pitching clients with school participants. The Adventures Lab founder hopes that each participant will benefit from what they have heard in a few years. Today, there is no need to wait till 40 years to run a business. The modern generation of children processes much more information than our parents. Thus, they can become successful young businessmen who make strides at an early age.
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