Ecoer Logo
VOTING POWER100.00%
DOWNVOTE POWER100.00%
RESOURCE CREDITS100.00%
REPUTATION PROGRESS7.30%
Net Worth
0.467USD
STEEM
0.000STEEM
SBD
0.877SBD
Effective Power
5.001SP
├── Own SP
0.636SP
└── Incoming Deleg
+4.365SP

Detailed Balance

STEEM
balance
0.000STEEM
market_balance
0.000STEEM
savings_balance
0.000STEEM
reward_steem_balance
0.000STEEM
STEEM POWER
Own SP
0.636SP
Delegated Out
0.000SP
Delegation In
4.365SP
Effective Power
5.001SP
Reward SP (pending)
0.176SP
SBD
sbd_balance
0.000SBD
sbd_conversions
0.000SBD
sbd_market_balance
0.000SBD
savings_sbd_balance
0.000SBD
reward_sbd_balance
0.877SBD
{
  "balance": "0.000 STEEM",
  "savings_balance": "0.000 STEEM",
  "reward_steem_balance": "0.000 STEEM",
  "vesting_shares": "1035.211827 VESTS",
  "delegated_vesting_shares": "0.000000 VESTS",
  "received_vesting_shares": "7108.447979 VESTS",
  "sbd_balance": "0.000 SBD",
  "savings_sbd_balance": "0.000 SBD",
  "reward_sbd_balance": "0.877 SBD",
  "conversions": []
}

Account Info

namebackpackceo
id201085
rank677,779
reputation3661607394
created2017-06-16T18:06:06
recovery_accountsteem
proxyNone
post_count10
comment_count0
lifetime_vote_count0
witnesses_voted_for0
last_post2018-03-14T21:16:48
last_root_post2018-03-14T21:16:48
last_vote_time2019-01-24T20:15:45
proxied_vsf_votes0, 0, 0, 0
can_vote1
voting_power0
delayed_votes0
balance0.000 STEEM
savings_balance0.000 STEEM
sbd_balance0.000 SBD
savings_sbd_balance0.000 SBD
vesting_shares1035.211827 VESTS
delegated_vesting_shares0.000000 VESTS
received_vesting_shares7108.447979 VESTS
reward_vesting_balance360.354860 VESTS
vesting_balance0.000 STEEM
vesting_withdraw_rate0.000000 VESTS
next_vesting_withdrawal1969-12-31T23:59:59
withdrawn0
to_withdraw0
withdraw_routes0
savings_withdraw_requests0
last_account_recovery1970-01-01T00:00:00
reset_accountnull
last_owner_update1970-01-01T00:00:00
last_account_update2018-01-10T21:46:09
minedNo
sbd_seconds0
sbd_last_interest_payment1970-01-01T00:00:00
savings_sbd_last_interest_payment1970-01-01T00:00:00
{
  "id": 201085,
  "name": "backpackceo",
  "owner": {
    "weight_threshold": 1,
    "account_auths": [],
    "key_auths": [
      [
        "STM5shRPk5Si8tgasinEryMxak9mLKx5C1FPKzdwRt4us4gDU6Cg2",
        1
      ]
    ]
  },
  "active": {
    "weight_threshold": 1,
    "account_auths": [],
    "key_auths": [
      [
        "STM5zaa9M5L133uLPXGu8vA5iyZRRomHERhKPMbS4wADJYHZwcj11",
        1
      ]
    ]
  },
  "posting": {
    "weight_threshold": 1,
    "account_auths": [],
    "key_auths": [
      [
        "STM5LbogcYt2mofy4doH6uHb5js4JmjxB3mgNU1hz9YLqrsHD1uef",
        1
      ]
    ]
  },
  "memo_key": "STM6xAicZ9eNJKzERYe96TJTAGQBRbAimjZXFC1LvsdJrpQ7z5b8S",
  "json_metadata": "{\"profile\":{\"profile_image\":\"http://www.highriseelite.com/wp-content/uploads/2017/09/Reggie.jpg\",\"name\":\"Crypto-Reggie\",\"website\":\"http://highriseelite.com\"}}",
  "posting_json_metadata": "{\"profile\":{\"profile_image\":\"http://www.highriseelite.com/wp-content/uploads/2017/09/Reggie.jpg\",\"name\":\"Crypto-Reggie\",\"website\":\"http://highriseelite.com\"}}",
  "proxy": "",
  "last_owner_update": "1970-01-01T00:00:00",
  "last_account_update": "2018-01-10T21:46:09",
  "created": "2017-06-16T18:06:06",
  "mined": false,
  "recovery_account": "steem",
  "last_account_recovery": "1970-01-01T00:00:00",
  "reset_account": "null",
  "comment_count": 0,
  "lifetime_vote_count": 0,
  "post_count": 10,
  "can_vote": true,
  "voting_manabar": {
    "current_mana": "8143659806",
    "last_update_time": 1779054591
  },
  "downvote_manabar": {
    "current_mana": 2035914951,
    "last_update_time": 1779054591
  },
  "voting_power": 0,
  "balance": "0.000 STEEM",
  "savings_balance": "0.000 STEEM",
  "sbd_balance": "0.000 SBD",
  "sbd_seconds": "0",
  "sbd_seconds_last_update": "1970-01-01T00:00:00",
  "sbd_last_interest_payment": "1970-01-01T00:00:00",
  "savings_sbd_balance": "0.000 SBD",
  "savings_sbd_seconds": "0",
  "savings_sbd_seconds_last_update": "1970-01-01T00:00:00",
  "savings_sbd_last_interest_payment": "1970-01-01T00:00:00",
  "savings_withdraw_requests": 0,
  "reward_sbd_balance": "0.877 SBD",
  "reward_steem_balance": "0.000 STEEM",
  "reward_vesting_balance": "360.354860 VESTS",
  "reward_vesting_steem": "0.176 STEEM",
  "vesting_shares": "1035.211827 VESTS",
  "delegated_vesting_shares": "0.000000 VESTS",
  "received_vesting_shares": "7108.447979 VESTS",
  "vesting_withdraw_rate": "0.000000 VESTS",
  "next_vesting_withdrawal": "1969-12-31T23:59:59",
  "withdrawn": 0,
  "to_withdraw": 0,
  "withdraw_routes": 0,
  "curation_rewards": 0,
  "posting_rewards": 350,
  "proxied_vsf_votes": [
    0,
    0,
    0,
    0
  ],
  "witnesses_voted_for": 0,
  "last_post": "2018-03-14T21:16:48",
  "last_root_post": "2018-03-14T21:16:48",
  "last_vote_time": "2019-01-24T20:15:45",
  "post_bandwidth": 0,
  "pending_claimed_accounts": 0,
  "vesting_balance": "0.000 STEEM",
  "reputation": 3661607394,
  "transfer_history": [],
  "market_history": [],
  "post_history": [],
  "vote_history": [],
  "other_history": [],
  "witness_votes": [],
  "tags_usage": [],
  "guest_bloggers": [],
  "rank": 677779
}

Withdraw Routes

IncomingOutgoing
Empty
Empty
{
  "incoming": [],
  "outgoing": []
}
From Date
To Date
steemdelegated 4.365 SP to @backpackceo
2026/05/17 21:49:51
delegatorsteem
delegateebackpackceo
vesting shares7108.447979 VESTS
Transaction InfoBlock #106140552/Trx 3c14ccf03e7250181d9b8ab0bff53a20390bc855
View Raw JSON Data
{
  "trx_id": "3c14ccf03e7250181d9b8ab0bff53a20390bc855",
  "block": 106140552,
  "trx_in_block": 0,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2026-05-17T21:49:51",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "backpackceo",
      "vesting_shares": "7108.447979 VESTS"
    }
  ]
}
steemdelegated 2.700 SP to @backpackceo
2026/05/11 18:52:09
delegatorsteem
delegateebackpackceo
vesting shares4396.237574 VESTS
Transaction InfoBlock #105964978/Trx 3436ae5e1a63cf06a2bd04989f9410e73e979f21
View Raw JSON Data
{
  "trx_id": "3436ae5e1a63cf06a2bd04989f9410e73e979f21",
  "block": 105964978,
  "trx_in_block": 3,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2026-05-11T18:52:09",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "backpackceo",
      "vesting_shares": "4396.237574 VESTS"
    }
  ]
}
steemdelegated 4.373 SP to @backpackceo
2026/04/25 21:14:36
delegatorsteem
delegateebackpackceo
vesting shares7120.963735 VESTS
Transaction InfoBlock #105508276/Trx ada92d9505c1da483cda297e325c9372a926ca3a
View Raw JSON Data
{
  "trx_id": "ada92d9505c1da483cda297e325c9372a926ca3a",
  "block": 105508276,
  "trx_in_block": 0,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2026-04-25T21:14:36",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "backpackceo",
      "vesting_shares": "7120.963735 VESTS"
    }
  ]
}
steemdelegated 2.725 SP to @backpackceo
2026/01/23 01:25:18
delegatorsteem
delegateebackpackceo
vesting shares4437.784393 VESTS
Transaction InfoBlock #102844175/Trx 3346cdad2f3f28655ec5f3fd79bcfd84e3ec6cc8
View Raw JSON Data
{
  "trx_id": "3346cdad2f3f28655ec5f3fd79bcfd84e3ec6cc8",
  "block": 102844175,
  "trx_in_block": 3,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2026-01-23T01:25:18",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "backpackceo",
      "vesting_shares": "4437.784393 VESTS"
    }
  ]
}
steemdelegated 2.826 SP to @backpackceo
2024/12/16 20:45:09
delegatorsteem
delegateebackpackceo
vesting shares4602.003590 VESTS
Transaction InfoBlock #91290591/Trx 38480dd1f781c9f783de58252c27fa1a9d82d778
View Raw JSON Data
{
  "trx_id": "38480dd1f781c9f783de58252c27fa1a9d82d778",
  "block": 91290591,
  "trx_in_block": 4,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2024-12-16T20:45:09",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "backpackceo",
      "vesting_shares": "4602.003590 VESTS"
    }
  ]
}
steemdelegated 2.930 SP to @backpackceo
2023/11/13 12:30:57
delegatorsteem
delegateebackpackceo
vesting shares4771.137122 VESTS
Transaction InfoBlock #79844868/Trx 707cedd927659c2d3cfc123077ecec23a67bb084
View Raw JSON Data
{
  "trx_id": "707cedd927659c2d3cfc123077ecec23a67bb084",
  "block": 79844868,
  "trx_in_block": 3,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2023-11-13T12:30:57",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "backpackceo",
      "vesting_shares": "4771.137122 VESTS"
    }
  ]
}
steemdelegated 4.734 SP to @backpackceo
2023/09/21 19:01:09
delegatorsteem
delegateebackpackceo
vesting shares7708.415908 VESTS
Transaction InfoBlock #78344471/Trx c4704dd4fd6e0588b96626dabe133bfb50c8d613
View Raw JSON Data
{
  "trx_id": "c4704dd4fd6e0588b96626dabe133bfb50c8d613",
  "block": 78344471,
  "trx_in_block": 1,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2023-09-21T19:01:09",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "backpackceo",
      "vesting_shares": "7708.415908 VESTS"
    }
  ]
}
steemdelegated 4.870 SP to @backpackceo
2022/11/03 09:07:33
delegatorsteem
delegateebackpackceo
vesting shares7930.097346 VESTS
Transaction InfoBlock #69110181/Trx 9e1c8559fadd6a39b5c543eb4691b1f76992440f
View Raw JSON Data
{
  "trx_id": "9e1c8559fadd6a39b5c543eb4691b1f76992440f",
  "block": 69110181,
  "trx_in_block": 4,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2022-11-03T09:07:33",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "backpackceo",
      "vesting_shares": "7930.097346 VESTS"
    }
  ]
}
steemdelegated 5.005 SP to @backpackceo
2022/01/17 08:36:12
delegatorsteem
delegateebackpackceo
vesting shares8150.630577 VESTS
Transaction InfoBlock #60806609/Trx dc8aa683766c5501bfbbe6b0b71df8b20a6b31e0
View Raw JSON Data
{
  "trx_id": "dc8aa683766c5501bfbbe6b0b71df8b20a6b31e0",
  "block": 60806609,
  "trx_in_block": 14,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2022-01-17T08:36:12",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "backpackceo",
      "vesting_shares": "8150.630577 VESTS"
    }
  ]
}
backpackceocustom json: community
2021/08/04 22:38:54
required auths[]
required posting auths["backpackceo"]
idcommunity
json["subscribe",{"community":"hive-108451"}]
Transaction InfoBlock #56084050/Trx 9614bdf58943e6fbe258f8b74c4922d1bc4b1e06
View Raw JSON Data
{
  "trx_id": "9614bdf58943e6fbe258f8b74c4922d1bc4b1e06",
  "block": 56084050,
  "trx_in_block": 0,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2021-08-04T22:38:54",
  "op": [
    "custom_json",
    {
      "required_auths": [],
      "required_posting_auths": [
        "backpackceo"
      ],
      "id": "community",
      "json": "[\"subscribe\",{\"community\":\"hive-108451\"}]"
    }
  ]
}
backpackceocustom json: community
2021/08/04 22:37:18
required auths[]
required posting auths["backpackceo"]
idcommunity
json["subscribe",{"community":"hive-101145"}]
Transaction InfoBlock #56084018/Trx bb38a4272e19126dd54dcf8682eb03f6128b43f1
View Raw JSON Data
{
  "trx_id": "bb38a4272e19126dd54dcf8682eb03f6128b43f1",
  "block": 56084018,
  "trx_in_block": 0,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2021-08-04T22:37:18",
  "op": [
    "custom_json",
    {
      "required_auths": [],
      "required_posting_auths": [
        "backpackceo"
      ],
      "id": "community",
      "json": "[\"subscribe\",{\"community\":\"hive-101145\"}]"
    }
  ]
}
steemdelegated 5.118 SP to @backpackceo
2021/06/13 22:37:12
delegatorsteem
delegateebackpackceo
vesting shares8334.399235 VESTS
Transaction InfoBlock #54605112/Trx e4a816ddc3baa8eecdd584399061d26d795b1e3f
View Raw JSON Data
{
  "trx_id": "e4a816ddc3baa8eecdd584399061d26d795b1e3f",
  "block": 54605112,
  "trx_in_block": 6,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2021-06-13T22:37:12",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "backpackceo",
      "vesting_shares": "8334.399235 VESTS"
    }
  ]
}
steemdelegated 5.233 SP to @backpackceo
2020/12/11 08:59:12
delegatorsteem
delegateebackpackceo
vesting shares8521.821209 VESTS
Transaction InfoBlock #49352662/Trx 8872625e8519994c94698b43748f3ebfb152f420
View Raw JSON Data
{
  "trx_id": "8872625e8519994c94698b43748f3ebfb152f420",
  "block": 49352662,
  "trx_in_block": 0,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2020-12-11T08:59:12",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "backpackceo",
      "vesting_shares": "8521.821209 VESTS"
    }
  ]
}
steemdelegated 1.174 SP to @backpackceo
2020/12/06 02:36:45
delegatorsteem
delegateebackpackceo
vesting shares1912.543513 VESTS
Transaction InfoBlock #49204231/Trx 19077ba359eacd9c82e68d206dde2a48921bbd6d
View Raw JSON Data
{
  "trx_id": "19077ba359eacd9c82e68d206dde2a48921bbd6d",
  "block": 49204231,
  "trx_in_block": 2,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2020-12-06T02:36:45",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "backpackceo",
      "vesting_shares": "1912.543513 VESTS"
    }
  ]
}
steemdelegated 5.237 SP to @backpackceo
2020/12/05 10:33:36
delegatorsteem
delegateebackpackceo
vesting shares8528.187848 VESTS
Transaction InfoBlock #49185334/Trx be39caa541a81e37a70e0a1fc5778a0b8a972ec0
View Raw JSON Data
{
  "trx_id": "be39caa541a81e37a70e0a1fc5778a0b8a972ec0",
  "block": 49185334,
  "trx_in_block": 12,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2020-12-05T10:33:36",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "backpackceo",
      "vesting_shares": "8528.187848 VESTS"
    }
  ]
}
steemdelegated 1.179 SP to @backpackceo
2020/11/02 10:52:51
delegatorsteem
delegateebackpackceo
vesting shares1920.017158 VESTS
Transaction InfoBlock #48252203/Trx aeeed278fc5f857f12407827e9082c086ba7a87b
View Raw JSON Data
{
  "trx_id": "aeeed278fc5f857f12407827e9082c086ba7a87b",
  "block": 48252203,
  "trx_in_block": 0,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2020-11-02T10:52:51",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "backpackceo",
      "vesting_shares": "1920.017158 VESTS"
    }
  ]
}
steemdelegated 5.362 SP to @backpackceo
2020/05/09 03:31:36
delegatorsteem
delegateebackpackceo
vesting shares8730.834422 VESTS
Transaction InfoBlock #43214443/Trx 414d2ea1796791930bace76aaca9ce9f6715d6b2
View Raw JSON Data
{
  "trx_id": "414d2ea1796791930bace76aaca9ce9f6715d6b2",
  "block": 43214443,
  "trx_in_block": 10,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2020-05-09T03:31:36",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "backpackceo",
      "vesting_shares": "8730.834422 VESTS"
    }
  ]
}
steemdelegated 1.200 SP to @backpackceo
2020/05/08 06:48:03
delegatorsteem
delegateebackpackceo
vesting shares1953.311140 VESTS
Transaction InfoBlock #43190154/Trx b5abe01f8a7e927551b9baa6da40772e94c4c595
View Raw JSON Data
{
  "trx_id": "b5abe01f8a7e927551b9baa6da40772e94c4c595",
  "block": 43190154,
  "trx_in_block": 25,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2020-05-08T06:48:03",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "backpackceo",
      "vesting_shares": "1953.311140 VESTS"
    }
  ]
}
steemdelegated 5.375 SP to @backpackceo
2020/03/27 21:01:30
delegatorsteem
delegateebackpackceo
vesting shares8753.435444 VESTS
Transaction InfoBlock #42025673/Trx f06d1e33f230f2717f4936c406d138e60ab90841
View Raw JSON Data
{
  "trx_id": "f06d1e33f230f2717f4936c406d138e60ab90841",
  "block": 42025673,
  "trx_in_block": 34,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2020-03-27T21:01:30",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "backpackceo",
      "vesting_shares": "8753.435444 VESTS"
    }
  ]
}
2019/06/16 18:57:24
parent authorbackpackceo
parent permlinkcryptocurrency-entrepreneur-discussing-my-thoughts-on-entrepreneurship-failure-and-creating-a-business
authorsteemitboard
permlinksteemitboard-notify-backpackceo-20190616t185723000z
title
bodyCongratulations @backpackceo! You received a personal award! <table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@backpackceo/birthday2.png</td><td>Happy Birthday! - You are on the Steem blockchain for 2 years!</td></tr></table> <sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@backpackceo) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=backpackceo)_</sub> ###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!
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      "author": "steemitboard",
      "permlink": "steemitboard-notify-backpackceo-20190616t185723000z",
      "title": "",
      "body": "Congratulations @backpackceo! You received a personal award!\n\n<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@backpackceo/birthday2.png</td><td>Happy Birthday! - You are on the Steem blockchain for 2 years!</td></tr></table>\n\n<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@backpackceo) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=backpackceo)_</sub>\n\n\n###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!",
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steemdelegated 5.496 SP to @backpackceo
2019/04/25 20:27:15
delegatorsteem
delegateebackpackceo
vesting shares8949.251996 VESTS
Transaction InfoBlock #32362818/Trx 55b996c86ab1c32ff762d58c9c81deb9877fcc8d
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steemdelegated 17.855 SP to @backpackceo
2019/01/24 21:44:42
delegatorsteem
delegateebackpackceo
vesting shares29075.167754 VESTS
Transaction InfoBlock #29746978/Trx 539cb221ae4b55cefce06635294ef7e8c109b803
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2019/01/24 20:15:45
voterbackpackceo
authorbitcoinflood
permlinkbitcoin-returns-to-normal-progress-will-soon-be-happening
weight10000 (100.00%)
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steemdelegated 5.565 SP to @backpackceo
2018/10/08 15:48:51
delegatorsteem
delegateebackpackceo
vesting shares9061.469764 VESTS
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steemdelegated 17.982 SP to @backpackceo
2018/09/21 23:40:12
delegatorsteem
delegateebackpackceo
vesting shares29281.960857 VESTS
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2018/07/06 18:36:03
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2018/06/27 21:28:27
voterbackpackceo
authordaudimitch
permlinksecure-your-financial-future-ignore-the-fud-hodl-your-steem-eos-and-bitshares-why-incoming-china-flood-gate
weight10000 (100.00%)
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2018/06/23 18:29:24
voterbackpackceo
authorfuturenomex
permlinkshould-you-put-your-business-on-blockchain
weight10000 (100.00%)
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backpackceocustom json: follow
2018/06/18 16:28:51
required auths[]
required posting auths["backpackceo"]
idfollow
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Transaction InfoBlock #23434519/Trx 88d0891489a765a0d53a675e99ac9995a16cfd67
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2018/06/18 16:14:42
voterbackpackceo
authorfuturenomex
permlinkbillion-hero-campaign-you-wanna-tell-me-what-this-is-all-about
weight10000 (100.00%)
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2018/06/03 18:40:06
voterbackpackceo
authorfuturenomex
permlinkeos-impact-on-bitshares-and-steemit-will-be-ultimately-positive
weight10000 (100.00%)
Transaction InfoBlock #23005821/Trx 254bd32ad048e49e9774a5996858e479e796f00a
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backpackceocustom json: follow
2018/06/03 06:55:12
required auths[]
required posting auths["backpackceo"]
idfollow
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Transaction InfoBlock #22991723/Trx e1369633b33ae7d0c7ac3a082a86a79d1b1184cf
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2018/06/03 06:53:18
required auths[]
required posting auths["backpackceo"]
idfollow
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Transaction InfoBlock #22991685/Trx 1f47bddbfa28d68099bcb856947fd0f632c3bdfc
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2018/05/24 20:12:12
required auths[]
required posting auths["backpackceo"]
idfollow
json["follow",{"follower":"backpackceo","following":"michaelx","what":["blog"]}]
Transaction InfoBlock #22719736/Trx e8a52e709706735d83638b5d5b6c4610039298bf
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steemdelegated 18.106 SP to @backpackceo
2018/05/18 18:46:48
delegatorsteem
delegateebackpackceo
vesting shares29484.308098 VESTS
Transaction InfoBlock #22545628/Trx d14b95bf4ddc7f886ad5e1da6b470fb765912755
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}
2018/03/14 23:32:57
voterbowwowbill
authorbackpackceo
permlinkwhy-bitshares-why-now
weight10000 (100.00%)
Transaction InfoBlock #20681221/Trx d58e8f488ab12669163ba17ab22c398d180f5e52
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2018/03/14 23:32:54
voterbowwowbill
authorbackpackceo
permlinkethereum-everything-you-ever-wanted-to-know-simplified
weight10000 (100.00%)
Transaction InfoBlock #20681220/Trx 21f606f57e8eb00d87d97d169c59ae904fe8375d
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2018/03/14 23:32:51
voterbowwowbill
authorbackpackceo
permlinkhow-to-buy-and-sell-on-binance
weight10000 (100.00%)
Transaction InfoBlock #20681219/Trx 7f28fc26bc6b707e967a1e725c599715b08086aa
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2018/03/14 23:32:48
voterbowwowbill
authorbackpackceo
permlinkusi-tech-to-shutdown-distribution-marketing-operations-amidst-scam-allegations
weight10000 (100.00%)
Transaction InfoBlock #20681218/Trx 160660d6be2bca52b2005df47ab43c5d8b2bfc0e
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2018/03/14 23:32:48
voterbowwowbill
authorbackpackceo
permlinkwhat-is-ripple
weight10000 (100.00%)
Transaction InfoBlock #20681218/Trx 446bbcde30a532360f315eec653b073b93e41a72
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2018/03/14 23:32:45
voterbowwowbill
authorbackpackceo
permlinkdecentra-lies-or-not-maybe-the-world-needs-people-to-control-them-i-guess
weight10000 (100.00%)
Transaction InfoBlock #20681217/Trx 68d9a8eda6d0da858fb862ebb7b4db91556ecd31
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2018/03/14 23:32:42
voterbowwowbill
authorbackpackceo
permlinkexplaining-coin-market-cap-for-beginners
weight10000 (100.00%)
Transaction InfoBlock #20681216/Trx f3622d880b205f0bccef8e48e2077beaec9e2e83
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2018/03/14 23:32:42
voterbowwowbill
authorbackpackceo
permlinkcryptocurrency-entrepreneur-discussing-my-thoughts-on-entrepreneurship-failure-and-creating-a-business
weight10000 (100.00%)
Transaction InfoBlock #20681216/Trx 6a1e911a4e494c4d6eadc511e6f827a7406795ad
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2018/03/14 22:52:42
required auths[]
required posting auths["backpackceo"]
idfollow
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Transaction InfoBlock #20680417/Trx 4919bd65040175baebe807d867a205ace8c5f6bd
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2018/03/14 21:16:48
voterbackpackceo
authorbackpackceo
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2018/03/14 21:16:48
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titleCryptocurrency Entrepreneur discussing my thoughts on Entrepreneurship, Failure and Creating a Business.
bodyHello it's Reggie AKA the Backpack CEO, CEO of www.Highriseelite.com, Founder of www.CryptoLearningAcademy.com Development team behind www.BillionheroCampaign.com (The worlds first Cryptocurrency Crowdfunding Game where everyone wins!) just talking about business, our thoughts on failure and doing all it takes to succeed. More Coming Soon! <iframe width="560" height="315" src="https://www.youtube.com/embed/ZSh4b-atGJY?rel=0&amp;showinfo=0" frameborder="0" allow="autoplay; encrypted-media" allowfullscreen></iframe>
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2018/02/21 21:14:30
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2018/01/31 00:08:21
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2018/01/31 00:01:12
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2018/01/30 23:59:57
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2018/01/30 23:59:57
parent author
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authorbackpackceo
permlinkexplaining-coin-market-cap-for-beginners
titleExplaining Coin Market Cap for Beginners
body<html> <p>&lt;h2&gt;What Does it Mean and is it Important?&lt;/h2&gt;&lt;p&gt;So you’ve just started investing in cryptocurrencies? Welcome aboard! As a beginner, there are all kinds of ways to measure the value and cost of a coin that you’ve heard of. Lots of beginners look at the price of a coin or token, see that it’s under $1.00 and think:&lt;/p&gt;&lt;p style="text-align: center;"&gt;&lt;strong&gt;&lt;em&gt;“Wow! That could be the next Bitcoin! That could go up to $14,000!”&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;But&amp;#8230;can it? Keep reading to learn more about the valuation of a particular crypto asset and how to assess the real cost of a coin.&lt;/p&gt;&lt;p&gt;&amp;nbsp;&lt;/p&gt;&lt;h2&gt;What is Coin Market Cap?&lt;/h2&gt;&lt;p&gt;We’ll begin with a quick definition from &lt;a href="<a href="https://www.investopedia.com/terms/m/marketcapitalization.asp">https://www.investopedia.com/terms/m/marketcapitalization.asp</a>" target="_blank" rel="noopener"&gt;Investopedia&lt;/a&gt;:&lt;/p&gt;&lt;p style="text-align: center;"&gt;&lt;strong&gt;&lt;em&gt;&amp;#8220;Market capitalization refers to the total dollar market value of a company&amp;#8217;s outstanding&lt;/em&gt;&lt;/strong&gt;&lt;br /&gt;&lt;strong&gt;&lt;em&gt;shares. Commonly referred to as &amp;#8220;market cap,&amp;#8221; it is calculated by multiplying a&lt;/em&gt;&lt;/strong&gt;&lt;br /&gt;&lt;strong&gt;&lt;em&gt;company&amp;#8217;s shares outstanding by the current market price of one share. The investment&lt;/em&gt;&lt;/strong&gt;&lt;br /&gt;&lt;strong&gt;&lt;em&gt;community uses this figure to determine a company&amp;#8217;s size, as opposed to using sales or&lt;/em&gt;&lt;/strong&gt;&lt;br /&gt;&lt;strong&gt;&lt;em&gt;total asset figures.”&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;“Market cap” is just a shortened form of “market capitalization,” and it’s one of the predominant&lt;br /&gt;indicators for investors when evaluating a company. In this case, we’re taking the same&lt;br /&gt;principles used with traditional companies and utilizing them in the crypto asset markets.&lt;/p&gt;&lt;p&gt;To understand this more easily, we’ll use the similarities between publicly traded companies and&lt;br /&gt;certain cryptocurrencies. You can think of individual coins/tokens as being like a share in a&lt;br /&gt;company. There are a specific number of coins available for circulation (some cryptocurrencies&lt;br /&gt;have more added over time, some do coin &lt;a href="<a href="https://www.forbes.com/sites/eidoo/2017/11/29/token-burning-and-other-crypto-jargon-simplified/%233e2082bc54c4">https://www.forbes.com/sites/eidoo/2017/11/29/token-burning-and-other-crypto-jargon-simplified/%233e2082bc54c4</a>" target="_blank" rel="noopener"&gt;“burns” to fend off inflation&lt;/a&gt;) and depending on the&lt;br /&gt;demand for these coins the price will fluctuate. Coin market capitalization measures the overall&lt;br /&gt;value of a specific currency in the markets.&lt;/p&gt;&lt;p&gt;What does that mean? All you need to do to find the total amount of “outstanding shares” and&lt;br /&gt;multiply that by the price per “share.”&lt;/p&gt;&lt;p style="text-align: center;"&gt;&lt;strong&gt;&lt;em&gt;M&lt;/em&gt;&lt;em&gt;arket Capitalization = # of outstanding shares x price per share&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;Okay great, now let’s bring that into the crypto world. Instead of “shares,” we’re looking at total&lt;br /&gt;number of coins. The important part when determining market capitalization is to remember the&lt;br /&gt;term “outstanding” in reference to the coins (basically the cryptocurrency equivalent to a&lt;br /&gt;“share”).&lt;/p&gt;&lt;p style="text-align: center;"&gt;&lt;strong&gt;&lt;em&gt;Coin Market Capitalization = # of outstanding coins x price per coin&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;The total number of “outstanding” coins is not always going to be the same as the coins in&lt;br /&gt;circulation. Between certain initial coin offerings (ICO’s) allocating a specific amount of coins to&lt;br /&gt;be locked up until a later date, lost wallet keys (and therefore coins), and “whales” (investors&lt;br /&gt;holding a substantial portion of a specific currency), the number of coins actually in circulation is&lt;br /&gt;rather tricky to know for certain. Because of this, just keep in mind that these are estimated&lt;br /&gt;values.&lt;/p&gt;&lt;p&gt;&amp;nbsp;&lt;/p&gt;&lt;h2&gt;Let’s Look at Some Examples&lt;/h2&gt;&lt;p&gt;Bitcoin (BTC) &amp;#8211; $198,885,837,392 USD&lt;/p&gt;&lt;p&gt;&lt;img class="aligncenter size-full wp-image-1855" src="<a href="https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.41.06-PM.png">https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.41.06-PM.png</a>" alt="Market cap highlighted " width="623" height="252" srcset="<a href="https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.41.06-PM.png">https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.41.06-PM.png 623w</a>,<a href="https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.41.06-PM-300x121.png"> https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.41.06-PM-300x121.png 300w</a>" sizes="(max-width: 623px) 100vw, 623px" /&gt;&lt;/p&gt;&lt;p&gt;At the time of writing this,&lt;a href="<a href="https://coinmarketcap.com/currencies/bitcoin/">https://coinmarketcap.com/currencies/bitcoin/</a>" target="_blank" rel="noopener"&gt; Bitcoin (BTC)&lt;/a&gt; was trading at $11,830.60USD/1BTC. If we look at the&lt;br /&gt;circulating supply to the right, we can use that to determine the market capitalization. By using&lt;br /&gt;the formula above, we simply plug in the numbers.&lt;/p&gt;&lt;p style="text-align: center;"&gt;&lt;strong&gt;&lt;em&gt;Coin Market Capitalization = $11,830.60 x 16,811,137 BTC&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt;&lt;p style="text-align: center;"&gt;or&lt;/p&gt;&lt;p style="text-align: center;"&gt;&lt;strong&gt;&lt;em&gt;$198,885,837392[.2] USD&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;Bitcoin (BTC) is currently the largest cryptocurrency trading by market capitalization, and it has&lt;br /&gt;been for quite some time, but what about a “small cap” cryptocurrency?&lt;/p&gt;&lt;p&gt;&amp;nbsp;&lt;/p&gt;&lt;p&gt;AudioCoin (ADC) &amp;#8211; $18,864,638 USD&lt;/p&gt;&lt;p&gt;&lt;img class="aligncenter size-full wp-image-1857" src="<a href="https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.45.44-PM.png">https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.45.44-PM.png</a>" alt="AudioCoin Marketcap" width="628" height="234" srcset="<a href="https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.45.44-PM.png">https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.45.44-PM.png 628w</a>,<a href="https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.45.44-PM-300x112.png"> https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.45.44-PM-300x112.png 300w</a>" sizes="(max-width: 628px) 100vw, 628px" /&gt;Unlike Bitcoin (BTC), &lt;a href="<a href="https://coinmarketcap.com/currencies/audiocoin/">https://coinmarketcap.com/currencies/audiocoin/</a>" target="_blank" rel="noopener"&gt;AudioCoin (ADC)&lt;/a&gt; is what’s considered a “small cap” or “micro cap” coin, meaning the current market capitalization of the currency is less than $25million. Again, we’ll use the same simple formula below:&lt;/p&gt;&lt;p style="text-align: center;"&gt;&lt;strong&gt;&lt;em&gt;Coin Market Capitalization = $0.22298 x 846,035,134 ADC&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt;&lt;p style="text-align: center;"&gt;or&lt;/p&gt;&lt;p style="text-align: center;"&gt;&lt;strong&gt;&lt;em&gt;$18,854,638 USD&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt;&lt;h2&gt;What’s the Significance?&lt;/h2&gt;&lt;p&gt;Okay great, so we calculated the market cap, but what does that really mean for me as an&lt;br /&gt;investor? Well, quite a bit.&lt;/p&gt;&lt;p&gt;When deciding on what crypto assets to purchase or invest in, market cap is going to give us&lt;br /&gt;some important information. Since coin market cap measures the amount of value attributed to&lt;br /&gt;a specific asset, it’s also able to give investors an idea of how volatile the asset is likely to be&lt;br /&gt;and what future projections can look like.&lt;/p&gt;&lt;p&gt;Take &lt;a href="<a href="https://cryptolearningacademy.com/what-is-bitcoin/">https://cryptolearningacademy.com/what-is-bitcoin/</a>"&gt;Bitcoin&lt;/a&gt; (BTC) for example: BTC has the single largest market cap of any crypto asset and&lt;br /&gt;because of that, the swings in pricing tends to be less volatile than smaller market cap coins.&lt;br /&gt;Granted, the percentage change is still massive compared to traditional securities like stocks&lt;br /&gt;and FOREX trading, but still more stable than something like AudioCoin (ADC).&lt;/p&gt;&lt;p&gt;If you look at the two screen captures above taken from&lt;a href="<a href="https://coinmarketcap.com/">https://coinmarketcap.com/</a>" target="_blank" rel="noopener"&gt; CoinMarketCap.com&lt;/a&gt;, you’ll see that&lt;br /&gt;AudioCoin (ADC) has had a 24 hour change of 38.97%, not too bad of a return for a day.&lt;/p&gt;&lt;p&gt;Now scroll back up and look at Bitcoin’s (BTC) 24 hour change in price: a much more modest&lt;br /&gt;6.37% increase. While not bad by any stretch of the imagination, that increase is significantly&lt;br /&gt;less than that of the much smaller market cap coins.&lt;/p&gt;&lt;p&gt;As an investor, this means that you need to evaluate what you’re looking for in an initial&lt;br /&gt;investment, and how much risk you’re willing to tolerate. For a massive market cap coin like&lt;br /&gt;Bitcoin (BTC) or &lt;a href="<a href="https://cryptolearningacademy.com/what-is-ethereum/">https://cryptolearningacademy.com/what-is-ethereum/</a>"&gt;Ethereum&lt;/a&gt; (ETH), changes tend to be less severe, but also don’t offer incredibly&lt;br /&gt;high returns like small market cap coins due to how much room they have for growth.&lt;/p&gt;&lt;p&gt;Another quick example after scrolling through the first page of Coin Market Cap:&lt;/p&gt;&lt;p&gt;&lt;img class="aligncenter size-full wp-image-1860" src="<a href="https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.53.46-PM.png">https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.53.46-PM.png</a>" alt="Coinmatic 2.0 Cap" width="619" height="243" srcset="<a href="https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.53.46-PM.png">https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.53.46-PM.png 619w</a>,<a href="https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.53.46-PM-300x118.png"> https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.53.46-PM-300x118.png 300w</a>" sizes="(max-width: 619px) 100vw, 619px" /&gt;&lt;/p&gt;&lt;p&gt;In the last 24 hours alone, &lt;a href="<a href="https://coinmarketcap.com/currencies/coimatic-2/">https://coinmarketcap.com/currencies/coimatic-2/</a>" target="_blank" rel="noopener"&gt;Coimatic 2.0 (CTIC2)&lt;/a&gt; has returned 414.18%. Yes, you read that&lt;br /&gt;correctly. That’s not a 4% return, or a 14% return, or even a 40% return, it’s a 414.18% return!&lt;/p&gt;&lt;p&gt;That kind of return on investment is absolutely insane by traditional securities metrics, but isn’t&lt;br /&gt;at all unheard of in the crypto markets. Clearly, you can see why those looking into small cap&lt;br /&gt;coins are interested quick, explosive growth. If you were to invest in a coin with a much higher&lt;br /&gt;market cap than Coimatic 2.0’s tiny $296,992, then in order to achieve a similar return, the coin&lt;br /&gt;would have to surpass massive staples in the market like Ethereum and Bitcoin (pretty unlikely&lt;br /&gt;in most cases).&lt;/p&gt;&lt;p&gt;However, there is also the other side of this coin (no pun intended):&lt;/p&gt;&lt;p&gt;&lt;img class="aligncenter size-full wp-image-1861" src="<a href="https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.55.37-PM.png">https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.55.37-PM.png</a>" alt="Yellow Token Market Cap" width="632" height="262" srcset="<a href="https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.55.37-PM.png">https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.55.37-PM.png 632w</a>,<a href="https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.55.37-PM-300x124.png"> https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.55.37-PM-300x124.png 300w</a>" sizes="(max-width: 632px) 100vw, 632px" /&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="<a href="https://coinmarketcap.com/currencies/yellow-token/%23charts">https://coinmarketcap.com/currencies/yellow-token/%23charts</a>" target="_blank" rel="noopener"&gt;Yellow Token (YEL)&lt;/a&gt; is a perfect example of what’s on the other side: risk. These low market cap&lt;br /&gt;tokens like YEL can also see tremendous volatility for the worse. In the last 24 hours alone,&lt;br /&gt;Yellow Token (YEL) has lost 68.53% of it’s value.&lt;/p&gt;&lt;p&gt;You’ll definitely need a strong stomach to invest in the small market cap tokens/coins, but they&lt;br /&gt;offer incredible opportunities for growth.&lt;/p&gt;&lt;p&gt;&amp;nbsp;&lt;/p&gt;&lt;p&gt;&lt;a href="<a href="https://cryptolearningacademy.com/get-5-free-crypto-coins-win-bitcoin/">https://cryptolearningacademy.com/get-5-free-crypto-coins-win-bitcoin/</a>"&gt;&lt;img class="aligncenter size-full wp-image-1687" src="<a href="https://cryptolearningacademy.com/wp-content/uploads/2018/01/Get-5-Free-Crypto-Coins4.png">https://cryptolearningacademy.com/wp-content/uploads/2018/01/Get-5-Free-Crypto-Coins4.png</a>" alt="" width="730" height="90" srcset="<a href="https://cryptolearningacademy.com/wp-content/uploads/2018/01/Get-5-Free-Crypto-Coins4.png">https://cryptolearningacademy.com/wp-content/uploads/2018/01/Get-5-Free-Crypto-Coins4.png 730w</a>,<a href="https://cryptolearningacademy.com/wp-content/uploads/2018/01/Get-5-Free-Crypto-Coins4-300x37.png"> https://cryptolearningacademy.com/wp-content/uploads/2018/01/Get-5-Free-Crypto-Coins4-300x37.png 300w</a>" sizes="(max-width: 730px) 100vw, 730px" /&gt;&lt;/a&gt;&lt;/p&gt;&lt;h2&gt; &lt;/h2&gt;&lt;h2&gt;The Takeaways&lt;/h2&gt;&lt;p&gt;So we’ve covered what coin market capitalization is and how to calculate it, but what are the&lt;br /&gt;important aspects of this calculation and what should investors be using it for?&lt;/p&gt;&lt;p&gt;● Getting a rough approximation of how volatile a cryptocurrency is likely to be relevant to&lt;br /&gt;other coins/tokens on the market.&lt;/p&gt;&lt;p&gt;● As an approximate indicator for the possibility of explosive growth of an asset in the&lt;br /&gt;short term&lt;/p&gt;&lt;p&gt;● Comparing and contrasting different assets trading at different prices, since they will both&lt;br /&gt;differ in circulating coins/tokens.&lt;/p&gt;&lt;p&gt;● As an indicator to help predict whether assets are actually “expensive” or “afforadable”&lt;br /&gt;relative to the circulating supply and not relative to other asset prices.&lt;/p&gt;&lt;p&gt;&amp;nbsp;&lt;/p&gt;</p> </html>
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Transaction InfoBlock #19444807/Trx b0d26bdaaf47cc85d4e2029d27b770e85c769d06
View Raw JSON Data
{
  "trx_id": "b0d26bdaaf47cc85d4e2029d27b770e85c769d06",
  "block": 19444807,
  "trx_in_block": 37,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-01-30T23:59:57",
  "op": [
    "comment",
    {
      "parent_author": "",
      "parent_permlink": "cryptocurrency",
      "author": "backpackceo",
      "permlink": "explaining-coin-market-cap-for-beginners",
      "title": "Explaining Coin Market Cap for Beginners",
      "body": "<html>\n<p>&lt;h2&gt;What Does it Mean and is it Important?&lt;/h2&gt;&lt;p&gt;So you’ve just started investing in cryptocurrencies? Welcome aboard! As a beginner, there are all kinds of ways to measure the value and cost of a coin that you’ve heard of. Lots of beginners look at the price of a coin or token, see that it’s under $1.00 and think:&lt;/p&gt;&lt;p style=\"text-align: center;\"&gt;&lt;strong&gt;&lt;em&gt;“Wow! That could be the next Bitcoin! That could go up to $14,000!”&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;But&amp;#8230;can it? Keep reading to learn more about the valuation of a particular crypto asset and how to assess the real cost of a coin.&lt;/p&gt;&lt;p&gt;&amp;nbsp;&lt;/p&gt;&lt;h2&gt;What is Coin Market Cap?&lt;/h2&gt;&lt;p&gt;We’ll begin with a quick definition from &lt;a href=\"<a href=\"https://www.investopedia.com/terms/m/marketcapitalization.asp\">https://www.investopedia.com/terms/m/marketcapitalization.asp</a>\" target=\"_blank\" rel=\"noopener\"&gt;Investopedia&lt;/a&gt;:&lt;/p&gt;&lt;p style=\"text-align: center;\"&gt;&lt;strong&gt;&lt;em&gt;&amp;#8220;Market capitalization refers to the total dollar market value of a company&amp;#8217;s outstanding&lt;/em&gt;&lt;/strong&gt;&lt;br /&gt;&lt;strong&gt;&lt;em&gt;shares. Commonly referred to as &amp;#8220;market cap,&amp;#8221; it is calculated by multiplying a&lt;/em&gt;&lt;/strong&gt;&lt;br /&gt;&lt;strong&gt;&lt;em&gt;company&amp;#8217;s shares outstanding by the current market price of one share. The investment&lt;/em&gt;&lt;/strong&gt;&lt;br /&gt;&lt;strong&gt;&lt;em&gt;community uses this figure to determine a company&amp;#8217;s size, as opposed to using sales or&lt;/em&gt;&lt;/strong&gt;&lt;br /&gt;&lt;strong&gt;&lt;em&gt;total asset figures.”&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;“Market cap” is just a shortened form of “market capitalization,” and it’s one of the predominant&lt;br /&gt;indicators for investors when evaluating a company. In this case, we’re taking the same&lt;br /&gt;principles used with traditional companies and utilizing them in the crypto asset markets.&lt;/p&gt;&lt;p&gt;To understand this more easily, we’ll use the similarities between publicly traded companies and&lt;br /&gt;certain cryptocurrencies. You can think of individual coins/tokens as being like a share in a&lt;br /&gt;company. There are a specific number of coins available for circulation (some cryptocurrencies&lt;br /&gt;have more added over time, some do coin &lt;a href=\"<a href=\"https://www.forbes.com/sites/eidoo/2017/11/29/token-burning-and-other-crypto-jargon-simplified/%233e2082bc54c4\">https://www.forbes.com/sites/eidoo/2017/11/29/token-burning-and-other-crypto-jargon-simplified/%233e2082bc54c4</a>\" target=\"_blank\" rel=\"noopener\"&gt;“burns” to fend off inflation&lt;/a&gt;) and depending on the&lt;br /&gt;demand for these coins the price will fluctuate. Coin market capitalization measures the overall&lt;br /&gt;value of a specific currency in the markets.&lt;/p&gt;&lt;p&gt;What does that mean? All you need to do to find the total amount of “outstanding shares” and&lt;br /&gt;multiply that by the price per “share.”&lt;/p&gt;&lt;p style=\"text-align: center;\"&gt;&lt;strong&gt;&lt;em&gt;M&lt;/em&gt;&lt;em&gt;arket Capitalization = # of outstanding shares x price per share&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;Okay great, now let’s bring that into the crypto world. Instead of “shares,” we’re looking at total&lt;br /&gt;number of coins. The important part when determining market capitalization is to remember the&lt;br /&gt;term “outstanding” in reference to the coins (basically the cryptocurrency equivalent to a&lt;br /&gt;“share”).&lt;/p&gt;&lt;p style=\"text-align: center;\"&gt;&lt;strong&gt;&lt;em&gt;Coin Market Capitalization = # of outstanding coins x price per coin&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;The total number of “outstanding” coins is not always going to be the same as the coins in&lt;br /&gt;circulation. Between certain initial coin offerings (ICO’s) allocating a specific amount of coins to&lt;br /&gt;be locked up until a later date, lost wallet keys (and therefore coins), and “whales” (investors&lt;br /&gt;holding a substantial portion of a specific currency), the number of coins actually in circulation is&lt;br /&gt;rather tricky to know for certain. Because of this, just keep in mind that these are estimated&lt;br /&gt;values.&lt;/p&gt;&lt;p&gt;&amp;nbsp;&lt;/p&gt;&lt;h2&gt;Let’s Look at Some Examples&lt;/h2&gt;&lt;p&gt;Bitcoin (BTC) &amp;#8211; $198,885,837,392 USD&lt;/p&gt;&lt;p&gt;&lt;img class=\"aligncenter size-full wp-image-1855\" src=\"<a href=\"https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.41.06-PM.png\">https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.41.06-PM.png</a>\" alt=\"Market cap highlighted \" width=\"623\" height=\"252\" srcset=\"<a href=\"https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.41.06-PM.png\">https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.41.06-PM.png 623w</a>,<a href=\"https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.41.06-PM-300x121.png\"> https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.41.06-PM-300x121.png 300w</a>\" sizes=\"(max-width: 623px) 100vw, 623px\" /&gt;&lt;/p&gt;&lt;p&gt;At the time of writing this,&lt;a href=\"<a href=\"https://coinmarketcap.com/currencies/bitcoin/\">https://coinmarketcap.com/currencies/bitcoin/</a>\" target=\"_blank\" rel=\"noopener\"&gt; Bitcoin (BTC)&lt;/a&gt; was trading at $11,830.60USD/1BTC. If we look at the&lt;br /&gt;circulating supply to the right, we can use that to determine the market capitalization. By using&lt;br /&gt;the formula above, we simply plug in the numbers.&lt;/p&gt;&lt;p style=\"text-align: center;\"&gt;&lt;strong&gt;&lt;em&gt;Coin Market Capitalization = $11,830.60 x 16,811,137 BTC&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt;&lt;p style=\"text-align: center;\"&gt;or&lt;/p&gt;&lt;p style=\"text-align: center;\"&gt;&lt;strong&gt;&lt;em&gt;$198,885,837392[.2] USD&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;Bitcoin (BTC) is currently the largest cryptocurrency trading by market capitalization, and it has&lt;br /&gt;been for quite some time, but what about a “small cap” cryptocurrency?&lt;/p&gt;&lt;p&gt;&amp;nbsp;&lt;/p&gt;&lt;p&gt;AudioCoin (ADC) &amp;#8211; $18,864,638 USD&lt;/p&gt;&lt;p&gt;&lt;img class=\"aligncenter size-full wp-image-1857\" src=\"<a href=\"https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.45.44-PM.png\">https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.45.44-PM.png</a>\" alt=\"AudioCoin Marketcap\" width=\"628\" height=\"234\" srcset=\"<a href=\"https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.45.44-PM.png\">https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.45.44-PM.png 628w</a>,<a href=\"https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.45.44-PM-300x112.png\"> https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.45.44-PM-300x112.png 300w</a>\" sizes=\"(max-width: 628px) 100vw, 628px\" /&gt;Unlike Bitcoin (BTC), &lt;a href=\"<a href=\"https://coinmarketcap.com/currencies/audiocoin/\">https://coinmarketcap.com/currencies/audiocoin/</a>\" target=\"_blank\" rel=\"noopener\"&gt;AudioCoin (ADC)&lt;/a&gt; is what’s considered a “small cap” or “micro cap” coin, meaning the current market capitalization of the currency is less than $25million. Again, we’ll use the same simple formula below:&lt;/p&gt;&lt;p style=\"text-align: center;\"&gt;&lt;strong&gt;&lt;em&gt;Coin Market Capitalization = $0.22298 x 846,035,134 ADC&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt;&lt;p style=\"text-align: center;\"&gt;or&lt;/p&gt;&lt;p style=\"text-align: center;\"&gt;&lt;strong&gt;&lt;em&gt;$18,854,638 USD&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt;&lt;h2&gt;What’s the Significance?&lt;/h2&gt;&lt;p&gt;Okay great, so we calculated the market cap, but what does that really mean for me as an&lt;br /&gt;investor? Well, quite a bit.&lt;/p&gt;&lt;p&gt;When deciding on what crypto assets to purchase or invest in, market cap is going to give us&lt;br /&gt;some important information. Since coin market cap measures the amount of value attributed to&lt;br /&gt;a specific asset, it’s also able to give investors an idea of how volatile the asset is likely to be&lt;br /&gt;and what future projections can look like.&lt;/p&gt;&lt;p&gt;Take &lt;a href=\"<a href=\"https://cryptolearningacademy.com/what-is-bitcoin/\">https://cryptolearningacademy.com/what-is-bitcoin/</a>\"&gt;Bitcoin&lt;/a&gt; (BTC) for example: BTC has the single largest market cap of any crypto asset and&lt;br /&gt;because of that, the swings in pricing tends to be less volatile than smaller market cap coins.&lt;br /&gt;Granted, the percentage change is still massive compared to traditional securities like stocks&lt;br /&gt;and FOREX trading, but still more stable than something like AudioCoin (ADC).&lt;/p&gt;&lt;p&gt;If you look at the two screen captures above taken from&lt;a href=\"<a href=\"https://coinmarketcap.com/\">https://coinmarketcap.com/</a>\" target=\"_blank\" rel=\"noopener\"&gt; CoinMarketCap.com&lt;/a&gt;, you’ll see that&lt;br /&gt;AudioCoin (ADC) has had a 24 hour change of 38.97%, not too bad of a return for a day.&lt;/p&gt;&lt;p&gt;Now scroll back up and look at Bitcoin’s (BTC) 24 hour change in price: a much more modest&lt;br /&gt;6.37% increase. While not bad by any stretch of the imagination, that increase is significantly&lt;br /&gt;less than that of the much smaller market cap coins.&lt;/p&gt;&lt;p&gt;As an investor, this means that you need to evaluate what you’re looking for in an initial&lt;br /&gt;investment, and how much risk you’re willing to tolerate. For a massive market cap coin like&lt;br /&gt;Bitcoin (BTC) or &lt;a href=\"<a href=\"https://cryptolearningacademy.com/what-is-ethereum/\">https://cryptolearningacademy.com/what-is-ethereum/</a>\"&gt;Ethereum&lt;/a&gt; (ETH), changes tend to be less severe, but also don’t offer incredibly&lt;br /&gt;high returns like small market cap coins due to how much room they have for growth.&lt;/p&gt;&lt;p&gt;Another quick example after scrolling through the first page of Coin Market Cap:&lt;/p&gt;&lt;p&gt;&lt;img class=\"aligncenter size-full wp-image-1860\" src=\"<a href=\"https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.53.46-PM.png\">https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.53.46-PM.png</a>\" alt=\"Coinmatic 2.0 Cap\" width=\"619\" height=\"243\" srcset=\"<a href=\"https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.53.46-PM.png\">https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.53.46-PM.png 619w</a>,<a href=\"https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.53.46-PM-300x118.png\"> https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.53.46-PM-300x118.png 300w</a>\" sizes=\"(max-width: 619px) 100vw, 619px\" /&gt;&lt;/p&gt;&lt;p&gt;In the last 24 hours alone, &lt;a href=\"<a href=\"https://coinmarketcap.com/currencies/coimatic-2/\">https://coinmarketcap.com/currencies/coimatic-2/</a>\" target=\"_blank\" rel=\"noopener\"&gt;Coimatic 2.0 (CTIC2)&lt;/a&gt; has returned 414.18%. Yes, you read that&lt;br /&gt;correctly. That’s not a 4% return, or a 14% return, or even a 40% return, it’s a 414.18% return!&lt;/p&gt;&lt;p&gt;That kind of return on investment is absolutely insane by traditional securities metrics, but isn’t&lt;br /&gt;at all unheard of in the crypto markets. Clearly, you can see why those looking into small cap&lt;br /&gt;coins are interested quick, explosive growth. If you were to invest in a coin with a much higher&lt;br /&gt;market cap than Coimatic 2.0’s tiny $296,992, then in order to achieve a similar return, the coin&lt;br /&gt;would have to surpass massive staples in the market like Ethereum and Bitcoin (pretty unlikely&lt;br /&gt;in most cases).&lt;/p&gt;&lt;p&gt;However, there is also the other side of this coin (no pun intended):&lt;/p&gt;&lt;p&gt;&lt;img class=\"aligncenter size-full wp-image-1861\" src=\"<a href=\"https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.55.37-PM.png\">https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.55.37-PM.png</a>\" alt=\"Yellow Token Market Cap\" width=\"632\" height=\"262\" srcset=\"<a href=\"https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.55.37-PM.png\">https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.55.37-PM.png 632w</a>,<a href=\"https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.55.37-PM-300x124.png\"> https://cryptolearningacademy.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-22-at-10.55.37-PM-300x124.png 300w</a>\" sizes=\"(max-width: 632px) 100vw, 632px\" /&gt;&lt;/p&gt;&lt;p&gt;&lt;a href=\"<a href=\"https://coinmarketcap.com/currencies/yellow-token/%23charts\">https://coinmarketcap.com/currencies/yellow-token/%23charts</a>\" target=\"_blank\" rel=\"noopener\"&gt;Yellow Token (YEL)&lt;/a&gt; is a perfect example of what’s on the other side: risk. These low market cap&lt;br /&gt;tokens like YEL can also see tremendous volatility for the worse. In the last 24 hours alone,&lt;br /&gt;Yellow Token (YEL) has lost 68.53% of it’s value.&lt;/p&gt;&lt;p&gt;You’ll definitely need a strong stomach to invest in the small market cap tokens/coins, but they&lt;br /&gt;offer incredible opportunities for growth.&lt;/p&gt;&lt;p&gt;&amp;nbsp;&lt;/p&gt;&lt;p&gt;&lt;a href=\"<a href=\"https://cryptolearningacademy.com/get-5-free-crypto-coins-win-bitcoin/\">https://cryptolearningacademy.com/get-5-free-crypto-coins-win-bitcoin/</a>\"&gt;&lt;img class=\"aligncenter size-full wp-image-1687\" src=\"<a href=\"https://cryptolearningacademy.com/wp-content/uploads/2018/01/Get-5-Free-Crypto-Coins4.png\">https://cryptolearningacademy.com/wp-content/uploads/2018/01/Get-5-Free-Crypto-Coins4.png</a>\" alt=\"\" width=\"730\" height=\"90\" srcset=\"<a href=\"https://cryptolearningacademy.com/wp-content/uploads/2018/01/Get-5-Free-Crypto-Coins4.png\">https://cryptolearningacademy.com/wp-content/uploads/2018/01/Get-5-Free-Crypto-Coins4.png 730w</a>,<a href=\"https://cryptolearningacademy.com/wp-content/uploads/2018/01/Get-5-Free-Crypto-Coins4-300x37.png\"> https://cryptolearningacademy.com/wp-content/uploads/2018/01/Get-5-Free-Crypto-Coins4-300x37.png 300w</a>\" sizes=\"(max-width: 730px) 100vw, 730px\" /&gt;&lt;/a&gt;&lt;/p&gt;&lt;h2&gt; &lt;/h2&gt;&lt;h2&gt;The Takeaways&lt;/h2&gt;&lt;p&gt;So we’ve covered what coin market capitalization is and how to calculate it, but what are the&lt;br /&gt;important aspects of this calculation and what should investors be using it for?&lt;/p&gt;&lt;p&gt;● Getting a rough approximation of how volatile a cryptocurrency is likely to be relevant to&lt;br /&gt;other coins/tokens on the market.&lt;/p&gt;&lt;p&gt;● As an approximate indicator for the possibility of explosive growth of an asset in the&lt;br /&gt;short term&lt;/p&gt;&lt;p&gt;● Comparing and contrasting different assets trading at different prices, since they will both&lt;br /&gt;differ in circulating coins/tokens.&lt;/p&gt;&lt;p&gt;● As an indicator to help predict whether assets are actually “expensive” or “afforadable”&lt;br /&gt;relative to the circulating supply and not relative to other asset prices.&lt;/p&gt;&lt;p&gt;&amp;nbsp;&lt;/p&gt;</p>\n</html>",
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2018/01/30 09:34:30
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2018/01/30 06:07:33
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2018/01/29 20:24:30
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2018/01/29 20:24:30
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2018/01/25 23:27:27
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2018/01/22 08:20:57
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2018/01/21 02:38:48
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2018/01/19 19:24:12
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2018/01/19 19:23:21
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2018/01/19 18:04:06
voterbackpackceo
authorbackpackceo
permlinkwhat-is-ripple
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backpackceopublished a new post: what-is-ripple
2018/01/19 18:04:06
parent author
parent permlinkripple
authorbackpackceo
permlinkwhat-is-ripple
titleWhat is Ripple?
body![ripple.jpg](https://steemitimages.com/DQmVEAkvkg3BJJobDUxURWugaSpg5kaP15Lm8R31tfNyg4y/ripple.jpg) On December 29, 2017, the price of Ripple (XRP) went up 56% and reached an all-time high for the digital currency, making it one of the biggest digital currencies by marketcap. Side note: market cap of a currency is calculated by multiplying the total number of coins in circulation for the currency by the price of the currency coin. The significance of the market cap is that coins with a low market cap are easy to manipulate. For example, if a coin has a market cap of just a few million dollars and a seller decides to sell $100,000 worth of coins, the price of the coin can go down 20%, 30% or even more because the $100,000 represents a significant percentage in terms of the total market cap. A seller can also decide to withdraw coins from the market, making the price go up significantly in a short period of time. Large changes in prices are also known as price volatility. With coins that have large market caps, market manipulations are much more difficult, which is why, if you are just starting to use cryptocurrencies, you should pay attention to the market cap of a currency and choose coins with large market caps. To do so, you can look at https://www.coingecko.com/en and sort coins by market cap. Some of the coins that have large market caps are Bitcoin, Ethereum, Ripple and Litecoin. One of the interesting things about Ripple is that it is not a true cryptocurrency. It is a protocol that uses blockchain-technology. To understand what makes Ripple different from Bitcoin and other popular cryptocurrencies, you first need to understand how Bitcoin works. Benefits of Bitcoin Satoshi Nakamoto created Bitcoin with a vision of Bitcoin becoming a peer-to-peer digital currency. “Bitcoin: A Peer-to-Peer Electronic Cash System” was the title of the whitepaper in which Nakamoto introduced Bitcoin to the world. You can download and read Nakamoto’s whitepaper here: https://bitcoin.org/bitcoin.pdf Reading it will give you a very detailed explanation about Bitcoin and the reasons for its introduction to the world. You will also see how a whitepaper for a cryptocurrency should look like. Side note: Whitepaper is a term for an official report. In the world of cryptocurrencies, creators of a currency typically write a whitepaper and share it with a public before introducing a currency to the world. A whitepaper can have many versions. If the whitepaper has several versions, it will have v.1., v.1.2., v.2., etc next to its title. When a whitepaper has a lot of versions, it is a good sign because it shows that the team behind a cryptocurrency is constantly working on improving the currency and did not just create the currency to quickly get rich and abandon the project. It is up to creators of the currency to write a whitepaper and choose how to structure it. Some projects introduce new coins without writing a whitepaper, which is not a good sign. Some whitepapers describe the need for what they are doing and introduce the team in detail. Others may choose not to write a lot about the team and focus on the technical side of their project. Overall, a quality whitepaper should have all of the elements mentioned above: a description of a problem, a description of a market, technical explanations of how the solution works and an introduction to the team behind the solution. Some of the biggest benefits of Bitcoin as a currency are that Bitcoin is decentralized and anonymous. Decentralization means that there is no bank that can suddenly decide to print more money or to withdraw some of the money from circulation. Why bailouts are impossible with Bitcoin Nakamoto introduced Bitcoin to the world in 2009, right after the world financial crisis of 2008. One of the main reasons for the crisis was the subprime mortgage crisis in the United States. The subprime crisis in the US occurred because big banks were giving loans to people who couldn’t afford the loans based on the erroneous assumption that the prices of real estate would always be going up. When real estate prices started going down, banks started to lose money. The government has decided that the banks were too big to fail and that letting them fail would bring too much destruction to the economy, which is why the government decided to bail out the banks and insurance companies. For example, it gave $67 billion dollars to insurance giant AIG, $45 billion to Bank of America, $6.6 billion to Citigroup and so on. You can see the full list of bailout recipients and how much money they have repaid at http://projects.propublica.org/bailout/list. Here’s the essence of the bailout: several key players made a lot of money and a lot of mistakes. When they made the money, they kept the money. When they made mistakes, the government paid for it. It did so by printing money and giving it to the bailout recipients. When the government printed money, it added this money to the national debt. It will be regular people who will be paying the debt in the future by paying the taxes. So, during the bailout regular people paid for the mistakes of the few with their money. This is something that can’t happen with Bitcoin or other cryptocurrencies because no one can choose to add more money than was originally planned. The Bitcoin network adds coins at a certain rate by giving them as a reward to miners on the network for creating new blocks of the Bitcoin blockchain. Satoshi Nakamoto created Bitcoin in such a way that it adds a block to the blockchain every 10 minutes or so. Depending on the activity on the network, sometimes miners create blocks faster or slower. You can see all the information about Bitcoin blockchain blocks by visiting Official Bitcoin Blockchain website at http://blockchain.info/ There can only be 21 million Bitcoins in circulation The total number of Bitcoins in circulation will be 21 million by 2140. That’s how the Bitcoin network was originally designed. Here’s how Bitcoin will reach this number: for mining first 210,000 blocks of the Bitcoin blockchain, miners were receiving 50 Bitcoins per block. For mining blocks 210,000 – 420,000 miners were getting 25 Bitcoins per block. As of the writing of this article, miners are getting 12.5 Bitcoins when they successfully mine a block. The next division of the reward is expected to occur in June of 2020, when the reward will go down to 6.25 bitcoins. You can see the bitcoin reward clock in real time here: http://www.bitcoinblockhalf.com/ Bitcoin network is also anonymous, meaning that anyone could become a user of the network or a miner. If you have Bitcoins and you trade in Bitcoins directly with other Bitcoin users, you can be anywhere and you can trade with anyone. Blockchain technology of Bitcoin can also be beneficial to regular banks, but regular banks choose not to use Bitcoin for a number of reasons, most of which have to do with compliance and legal issues. Why banks won’t use Bitcoin On the Bitcoin network, anonymous miners compile transactions that occur on the network into blocks of Bitcoin blockchain. A regular bank can’t be a part of this system because dealing with anonymous entities means that the bank wouldn’t be able to hold anyone accountable is something were to go wrong. Transactions on the Bitcoin blockchain are irreversible. This means that once you send a payment in bitcoins to someone, you can’t do anything about it if you change your mind. There is no phone number to call, email address to email or support chat you can contact. Once the money is gone, it is gone. This also doesn’t work for regular banks for a number of reasons. First, a client of a bank may change the mind about a transaction. Second, many of the regular banks deal not just with currencies, but also with assets, such as cars and real estate. Banking industry is heavily regulated and to enter and stay in the industry banks need to comply with a lot of regulations. They need to be accountable themselves and be able to hold their partners accountable. For these reasons, no bank would choose to perform a transaction with a high-priced asset such as a home by putting it on an anonymous ledger created by miners from all over the world, which is exactly how the Bitcoin network creates its blockchain. These are the problems that Ripple protocol and Ripple currencies solve for the banks and other financial institutions. Before we move further, it is important to note that the word “Ripple” can mean three things. One is Ripple as a project, a company, an entity. Another one is Ripple Protocol or Ripple Network, which is a technical implementation of the idea. The third one is Ripple the coin or Ripple the currency of the Ripple Network. History of Ripple The creator the Ripple project is Ryan Fugger. In 2004, he has an idea for a technical solution that would help regular banks send money faster and without using thirdparties, which is what slows things down and increases costs. Fugger created such a solution. He first registered the website called RipplePay.com in 2005 (Source: https://who.is/whois/ripplepay.com). Independently of Fugger, in 2011 software engineer Jed McCaleb, who previously worked for cryptocurrency exchange Mt. Gox and peer-to-peer file exchange system eDonkey, decided to create a software solution in which verification of transactions would be happening as a result of a consensus of users of a ledger instead of anonymous miners adding transactions to the ledger the way in happens with Bitcoin blockchain. Such a solution could work for banks because all the users could be verifiable and consensus could be something that would fit into how banks operate within their regulatory framework. In 2012 McCaleb started working with Chris Larsen. Larsen is the co-founder of several successful startups that include online loan solution e-Loan the first peer-to-peer online market in the United States called Prosper Marketplace. Also in 2012, McCaleb and Larsen approached Fugger and suggested to become partners. Fugger agreed to work with them and this was the beginning of the OpenCoin Corporation. The goal of the company was to create a decentralized technology that would work for big players in the financial world such as banks as money transfer services. OpenCoin began to work on what later became Ripple protocol. The company released the first version of the protocol in 2012. In 2013, the company attracted several investors and raised capital from such well-known entities as Google Ventures, IDG Capital Partners and the venture fund of Marc Andreessen (Andreessen is the creator of the Netscape Browser, which one of the most popular Internet browsers in the 1990s. Andreessen took Netscape public and in 1999 sold the company to AOL for $4.2 billion. As of the end of 2017, net worth of Andreessen was $1.07 billion). In 2013, OpenCoin changed its name to Ripple Labs. In 2015, Ripple Labs changed its name again and became Ripple. The company made all of its computer code open source to the public in 2013 (parts of the code were open-source before that). Side Note: When a company makes its computer code open source, it means that anyone can download it, use it and study it. Most of the private software companies do not make their code open source. When code is not open source, the software can’t really be decentralized. True decentralization means that anyone can download, use and inspect the code at any time. Bitcoin’s code is open source. Ethereum’s code is open source. The majority of popular cryptocurrencies have made their computer code open source, too. Ripple network in plain English Ripple network treats money on the network as debt. This way, using the network is very convenient not only to individuals but also to banks who are used to dealing with debits and credits. When the money leaves the sender, it becomes a balance and then moves through a sequence of virtual credit lines. Here’s an example. Let’s say you have two friends, A and C, who decide to go to a baseball game. They also agree that each of them would bring another friend. A brings B and C brings D. Obviously, A knows B and C knows D. However, A doesn’t know D, C doesn’t know B and B doesn’t know D. All and any of them may or may not meet again in the future. B and D (B is a friend that A brought, D is a friend that C brought, B and D have never met before) then go to get some hot dogs and soft drinks. D doesn’t have any money. B agrees to pay $5 for D’s food and D agrees to pay B back some time after the game. Since D and B haven’t met before, but B knows A and D knows C, here’s how the transaction would work using Ripple Protocol: D pays the person that he or she knows, which is C. C pays the person that he or she knows, which is A. A does the same and the money finally gets to B. Features of the Ripple network On the Ripple network that transactions only happen between parties that know each other and trust each other. This is what makes Ripple so different from Bitcoin and other cryptocurrencies. This is also the reason why today major banks and financial services firms use Ripple and this is how Ripple made blockchain technology usable by big banks. For them, it is important to know exactly who the other party is and dealing with anonymous entities on the other side of the globe is out of the question. With Ripple, big banks and individuals can benefit from blockchain technology, its speed and lower fees, yet still only deal with entities and individuals accountable for their actions. The Ripple is similar to Bitcoin in that it is a decentralized network that allows parties on the network to make payments very quickly. Also just like Bitcoin, Ripple keeps a record of all the currencies in its blockchain that it calls Ripple Ledger. You can see information about the ledger in real time at https://xrpcharts.ripple.com/#/ Ripple Coin Ripple Coin or XRP is the currency of the Ripple network. However, users of the network do not have to use XRP to make payments to each other. They can also send payments using regular currencies, such as US Dollars. One of the benefits of the Ripple network is that it can convert a payment in one regular currency into a different regular currency in a matter of seconds. Ripple coin can be divided up to six decimal points. Just like Bitcoin, Ripple coin has a name for its smallest part. (The smallest part of Bitcoin is called Satoshi. One Satoshi is one hundred millionth of a bitcoin or 0.00000001 BTC). The smallest part of Ripple is called a Drop. There are one million Drops in 1 XRP. Also just like with Bitcoin, transactions on the Ripple network are irreversible. Once you send the money to someone, there is no way to cancel or reverse the transaction. One of the differences between Ripple and Bitcoin is that Ripple network does not add coins to circulation. Ripple network also doesn’t have miners. The founders of the Ripple network have introduced all the funds that will ever exist on the network at the inception of the network. The number of coins introduced was 100 billion. The coin is the only digital asset allowed on the Ripple network. For security purposes, a Ripple account needs to store 20XRP in it for a user to be able to use the account. When members of the Ripple network participate in a transaction with funds in a currency different from XRP, the network does change them a small fee for the transaction. This is done so that attackers do not start creating fake accounts and do not cripple the performance of the network. This is also the reason why XRP accounts need to have a minimum balance in them. Transaction fees on the network start at 0.0001XRP. The network doesn’t keep the fee. Instead, it destroys the fee, which means that the number of Ripple coins in circulation is decreasing. Ripple in Media Over the years Ripple has received a lot of coverage and praise from the media and financial experts. Experts agree that Ripple protocol can significantly increase the speed of transactions in the financial industry. The New York Times, CNBC, Fox, Federal Bank of Boston all talked positively about the opportunities that using Ripple gives to the banks. One of the reasons why Bill Gates said in 2014 that he didn’t think Bitcoin would remain the biggest digital currency in the long term was that he believed that protocols like Ripple could move money just as effectively as Bitcoin but without Bitcoin’s limited transaction capacity and anonymous miners.
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      "parent_permlink": "ripple",
      "author": "backpackceo",
      "permlink": "what-is-ripple",
      "title": "What is Ripple?",
      "body": "![ripple.jpg](https://steemitimages.com/DQmVEAkvkg3BJJobDUxURWugaSpg5kaP15Lm8R31tfNyg4y/ripple.jpg)\n\nOn December 29, 2017, the price of Ripple (XRP) went up 56% and reached an all-time high for the digital currency, making it one of the biggest digital currencies by marketcap.\n\nSide note: market cap of a currency is calculated by multiplying the total number of coins in circulation for the currency by the price of the currency coin. The significance of the market cap is that coins with a low market cap are easy to manipulate.\n\nFor example, if a coin has a market cap of just a few million dollars and a seller decides\nto sell $100,000 worth of coins, the price of the coin can go down 20%, 30% or even more\nbecause the $100,000 represents a significant percentage in terms of the total market\ncap. A seller can also decide to withdraw coins from the market, making the price go up\nsignificantly in a short period of time. Large changes in prices are also known as price\nvolatility.\n\nWith coins that have large market caps, market manipulations are much more difficult,\nwhich is why, if you are just starting to use cryptocurrencies, you should pay attention\nto the market cap of a currency and choose coins with large market caps. To do so, you\ncan look at https://www.coingecko.com/en and sort coins by market cap. Some of the\ncoins that have large market caps are Bitcoin, Ethereum, Ripple and Litecoin.\nOne of the interesting things about Ripple is that it is not a true cryptocurrency. It is a\nprotocol that uses blockchain-technology. To understand what makes Ripple different\nfrom Bitcoin and other popular cryptocurrencies, you first need to understand how\nBitcoin works.\n\nBenefits of Bitcoin\nSatoshi Nakamoto created Bitcoin with a vision of Bitcoin becoming a peer-to-peer digital\ncurrency. “Bitcoin: A Peer-to-Peer Electronic Cash System” was the title of the\nwhitepaper in which Nakamoto introduced Bitcoin to the world. You can download and\nread Nakamoto’s whitepaper here: https://bitcoin.org/bitcoin.pdf Reading it will give\nyou a very detailed explanation about Bitcoin and the reasons for its introduction to the\nworld. You will also see how a whitepaper for a cryptocurrency should look like. \nSide note: Whitepaper is a term for an official report. In the world of cryptocurrencies,\ncreators of a currency typically write a whitepaper and share it with a public before\nintroducing a currency to the world.\n\nA whitepaper can have many versions. If the whitepaper has several versions, it will\nhave v.1., v.1.2., v.2., etc next to its title. When a whitepaper has a lot of versions, it is\na good sign because it shows that the team behind a cryptocurrency is constantly\nworking on improving the currency and did not just create the currency to quickly get\nrich and abandon the project.\n\nIt is up to creators of the currency to write a whitepaper and choose how to structure\nit. Some projects introduce new coins without writing a whitepaper, which is not a good\nsign.\n\nSome whitepapers describe the need for what they are doing and introduce the team in\ndetail. Others may choose not to write a lot about the team and focus on the technical\nside of their project. Overall, a quality whitepaper should have all of the elements\nmentioned above: a description of a problem, a description of a market, technical\nexplanations of how the solution works and an introduction to the team behind the\nsolution.\n\nSome of the biggest benefits of Bitcoin as a currency are that Bitcoin is decentralized\nand anonymous. Decentralization means that there is no bank that can suddenly decide\nto print more money or to withdraw some of the money from circulation.\n\n\nWhy bailouts are impossible with Bitcoin\nNakamoto introduced Bitcoin to the world in 2009, right after the world financial crisis of\n2008. One of the main reasons for the crisis was the subprime mortgage crisis in the\nUnited States. The subprime crisis in the US occurred because big banks were giving\nloans to people who couldn’t afford the loans based on the erroneous assumption that\nthe prices of real estate would always be going up. When real estate prices started going\ndown, banks started to lose money. The government has decided that the banks were too\nbig to fail and that letting them fail would bring too much destruction to the economy,\nwhich is why the government decided to bail out the banks and insurance companies. For\nexample, it gave $67 billion dollars to insurance giant AIG, $45 billion to Bank of\nAmerica, $6.6 billion to Citigroup and so on. You can see the full list of bailout recipients\nand how much money they have repaid at http://projects.propublica.org/bailout/list.\nHere’s the essence of the bailout: several key players made a lot of money and a lot of\nmistakes. When they made the money, they kept the money. When they made mistakes,\nthe government paid for it. It did so by printing money and giving it to the bailout\nrecipients. When the government printed money, it added this money to the national \ndebt. It will be regular people who will be paying the debt in the future by paying the\ntaxes. So, during the bailout regular people paid for the mistakes of the few with their\nmoney.\n\nThis is something that can’t happen with Bitcoin or other cryptocurrencies because no\none can choose to add more money than was originally planned. The Bitcoin network\nadds coins at a certain rate by giving them as a reward to miners on the network for\ncreating new blocks of the Bitcoin blockchain.\n\nSatoshi Nakamoto created Bitcoin in such a way that it adds a block to the blockchain\nevery 10 minutes or so. Depending on the activity on the network, sometimes miners\ncreate blocks faster or slower. You can see all the information about Bitcoin blockchain\nblocks by visiting Official Bitcoin Blockchain website at http://blockchain.info/\n\nThere can only be 21 million Bitcoins in circulation\nThe total number of Bitcoins in circulation will be 21 million by 2140. That’s how the\nBitcoin network was originally designed. Here’s how Bitcoin will reach this number: for\nmining first 210,000 blocks of the Bitcoin blockchain, miners were receiving 50 Bitcoins\nper block. For mining blocks 210,000 – 420,000 miners were getting 25 Bitcoins per block.\nAs of the writing of this article, miners are getting 12.5 Bitcoins when they successfully\nmine a block. The next division of the reward is expected to occur in June of 2020, when\nthe reward will go down to 6.25 bitcoins. You can see the bitcoin reward clock in real\ntime here: http://www.bitcoinblockhalf.com/\n\nBitcoin network is also anonymous, meaning that anyone could become a user of the\nnetwork or a miner. If you have Bitcoins and you trade in Bitcoins directly with other\nBitcoin users, you can be anywhere and you can trade with anyone. Blockchain\ntechnology of Bitcoin can also be beneficial to regular banks, but regular banks choose\nnot to use Bitcoin for a number of reasons, most of which have to do with compliance\nand legal issues.\n\nWhy banks won’t use Bitcoin\nOn the Bitcoin network, anonymous miners compile transactions that occur on the\nnetwork into blocks of Bitcoin blockchain. A regular bank can’t be a part of this system\nbecause dealing with anonymous entities means that the bank wouldn’t be able to hold\nanyone accountable is something were to go wrong.\n\nTransactions on the Bitcoin blockchain are irreversible. This means that once you send a\npayment in bitcoins to someone, you can’t do anything about it if you change your mind.\nThere is no phone number to call, email address to email or support chat you can \ncontact. Once the money is gone, it is gone. This also doesn’t work for regular banks for\na number of reasons. First, a client of a bank may change the mind about a transaction.\nSecond, many of the regular banks deal not just with currencies, but also with assets,\nsuch as cars and real estate. Banking industry is heavily regulated and to enter and stay\nin the industry banks need to comply with a lot of regulations. They need to be\naccountable themselves and be able to hold their partners accountable.\n\nFor these reasons, no bank would choose to perform a transaction with a high-priced\nasset such as a home by putting it on an anonymous ledger created by miners from all\nover the world, which is exactly how the Bitcoin network creates its blockchain.\n\nThese are the problems that Ripple protocol and Ripple currencies solve for the banks\nand other financial institutions. Before we move further, it is important to note that the\nword “Ripple” can mean three things. One is Ripple as a project, a company, an entity.\nAnother one is Ripple Protocol or Ripple Network, which is a technical implementation of\nthe idea. The third one is Ripple the coin or Ripple the currency of the Ripple Network.\n\nHistory of Ripple\nThe creator the Ripple project is Ryan Fugger. In 2004, he has an idea for a technical\nsolution that would help regular banks send money faster and without using thirdparties,\nwhich is what slows things down and increases costs. Fugger created such a\nsolution. He first registered the website called RipplePay.com in 2005 (Source: https://who.is/whois/ripplepay.com).\n\nIndependently of Fugger, in 2011 software engineer Jed McCaleb, who previously worked\nfor cryptocurrency exchange Mt. Gox and peer-to-peer file exchange system eDonkey,\ndecided to create a software solution in which verification of transactions would be\nhappening as a result of a consensus of users of a ledger instead of anonymous miners\nadding transactions to the ledger the way in happens with Bitcoin blockchain. Such a\nsolution could work for banks because all the users could be verifiable and consensus\ncould be something that would fit into how banks operate within their regulatory\nframework.\n\nIn 2012 McCaleb started working with Chris Larsen. Larsen is the co-founder of several\nsuccessful startups that include online loan solution e-Loan the first peer-to-peer online\nmarket in the United States called Prosper Marketplace.\nAlso in 2012, McCaleb and Larsen approached Fugger and suggested to become partners.\nFugger agreed to work with them and this was the beginning of the OpenCoin\nCorporation.\n\nThe goal of the company was to create a decentralized technology that would work for\nbig players in the financial world such as banks as money transfer services. OpenCoin\nbegan to work on what later became Ripple protocol. The company released the first\nversion of the protocol in 2012. In 2013, the company attracted several investors and\nraised capital from such well-known entities as Google Ventures, IDG Capital Partners\nand the venture fund of Marc Andreessen (Andreessen is the creator of the Netscape\nBrowser, which one of the most popular Internet browsers in the 1990s. Andreessen took\nNetscape public and in 1999 sold the company to AOL for $4.2 billion. As of the end of\n2017, net worth of Andreessen was $1.07 billion).\n\nIn 2013, OpenCoin changed its name to Ripple Labs. In 2015, Ripple Labs changed its\nname again and became Ripple. The company made all of its computer code open source\nto the public in 2013 (parts of the code were open-source before that).\n\nSide Note: When a company makes its computer code open source, it means that anyone\ncan download it, use it and study it. Most of the private software companies do not\nmake their code open source. When code is not open source, the software can’t really\nbe decentralized. True decentralization means that anyone can download, use and\ninspect the code at any time. Bitcoin’s code is open source. Ethereum’s code is open\nsource. The majority of popular cryptocurrencies have made their computer code open\nsource, too.\n\nRipple network in plain English\nRipple network treats money on the network as debt. This way, using the network is very\nconvenient not only to individuals but also to banks who are used to dealing with debits\nand credits. When the money leaves the sender, it becomes a balance and then moves\nthrough a sequence of virtual credit lines.\n\nHere’s an example. Let’s say you have two friends, A and C, who decide to go to a\nbaseball game. They also agree that each of them would bring another friend. A brings B\nand C brings D. Obviously, A knows B and C knows D. However, A doesn’t know D, C\ndoesn’t know B and B doesn’t know D. All and any of them may or may not meet again in\nthe future. B and D (B is a friend that A brought, D is a friend that C brought, B and D\nhave never met before) then go to get some hot dogs and soft drinks. D doesn’t have any\nmoney. B agrees to pay $5 for D’s food and D agrees to pay B back some time after the\ngame. Since D and B haven’t met before, but B knows A and D knows C, here’s how the\ntransaction would work using Ripple Protocol: D pays the person that he or she knows,\nwhich is C. C pays the person that he or she knows, which is A. A does the same and the\nmoney finally gets to B.\n\nFeatures of the Ripple network\nOn the Ripple network that transactions only happen between parties that know each\nother and trust each other. This is what makes Ripple so different from Bitcoin and other\ncryptocurrencies. This is also the reason why today major banks and financial services\nfirms use Ripple and this is how Ripple made blockchain technology usable by big banks.\nFor them, it is important to know exactly who the other party is and dealing with\nanonymous entities on the other side of the globe is out of the question. With Ripple, big\nbanks and individuals can benefit from blockchain technology, its speed and lower fees,\nyet still only deal with entities and individuals accountable for their actions.\n\nThe Ripple is similar to Bitcoin in that it is a decentralized network that allows parties on\nthe network to make payments very quickly. Also just like Bitcoin, Ripple keeps a record\nof all the currencies in its blockchain that it calls Ripple Ledger. You can see information\nabout the ledger in real time at https://xrpcharts.ripple.com/#/\n\nRipple Coin\nRipple Coin or XRP is the currency of the Ripple network. However, users of the network\ndo not have to use XRP to make payments to each other. They can also send payments\nusing regular currencies, such as US Dollars. One of the benefits of the Ripple network is\nthat it can convert a payment in one regular currency into a different regular currency in\na matter of seconds.\n\nRipple coin can be divided up to six decimal points. Just like Bitcoin, Ripple coin has a\nname for its smallest part. (The smallest part of Bitcoin is called Satoshi. One Satoshi is\none hundred millionth of a bitcoin or 0.00000001 BTC). The smallest part of Ripple is\ncalled a Drop. There are one million Drops in 1 XRP.\n\nAlso just like with Bitcoin, transactions on the Ripple network are irreversible. Once you\nsend the money to someone, there is no way to cancel or reverse the transaction.\n\nOne of the differences between Ripple and Bitcoin is that Ripple network does not add\ncoins to circulation. Ripple network also doesn’t have miners. The founders of the Ripple\nnetwork have introduced all the funds that will ever exist on the network at the\ninception of the network. The number of coins introduced was 100 billion. The coin is the\nonly digital asset allowed on the Ripple network. For security purposes, a Ripple account\nneeds to store 20XRP in it for a user to be able to use the account.\n\nWhen members of the Ripple network participate in a transaction with funds in a\ncurrency different from XRP, the network does change them a small fee for the\ntransaction. This is done so that attackers do not start creating fake accounts and do not \ncripple the performance of the network. This is also the reason why XRP accounts need\nto have a minimum balance in them. Transaction fees on the network start at 0.0001XRP.\nThe network doesn’t keep the fee. Instead, it destroys the fee, which means that the\nnumber of Ripple coins in circulation is decreasing.\n\nRipple in Media\nOver the years Ripple has received a lot of coverage and praise from the media and\nfinancial experts. Experts agree that Ripple protocol can significantly increase the speed\nof transactions in the financial industry. The New York Times, CNBC, Fox, Federal Bank of\nBoston all talked positively about the opportunities that using Ripple gives to the banks.\nOne of the reasons why Bill Gates said in 2014 that he didn’t think Bitcoin would remain\nthe biggest digital currency in the long term was that he believed that protocols like\nRipple could move money just as effectively as Bitcoin but without Bitcoin’s limited\ntransaction capacity and anonymous miners.",
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2018/01/18 23:29:39
parent authorbackpackceo
parent permlinkusi-tech-to-shutdown-distribution-marketing-operations-amidst-scam-allegations
authorbitcoinflood
permlinkre-backpackceo-usi-tech-to-shutdown-distribution-marketing-operations-amidst-scam-allegations-20180118t232940544z
title
bodyYet another one any of these "investment" type sites are all scams just use your best judgement seriously
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      "permlink": "re-backpackceo-usi-tech-to-shutdown-distribution-marketing-operations-amidst-scam-allegations-20180118t232940544z",
      "title": "",
      "body": "Yet another one any of these \"investment\" type sites are all scams just use your best judgement seriously",
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2018/01/18 23:29:00
votermonirol-islam
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2018/01/18 23:27:45
parent authorbackpackceo
parent permlinkusi-tech-to-shutdown-distribution-marketing-operations-amidst-scam-allegations
authorcheetah
permlinkcheetah-re-backpackceousi-tech-to-shutdown-distribution-marketing-operations-amidst-scam-allegations
title
bodyHi! I am a robot. I just upvoted you! I found similar content that readers might be interested in: https://medium.com/@michaelx777/usi-tech-to-shutdown-distribution-marketing-operations-amidst-scam-allegations-65c7d0deba92
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      "permlink": "cheetah-re-backpackceousi-tech-to-shutdown-distribution-marketing-operations-amidst-scam-allegations",
      "title": "",
      "body": "Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:\nhttps://medium.com/@michaelx777/usi-tech-to-shutdown-distribution-marketing-operations-amidst-scam-allegations-65c7d0deba92",
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2018/01/18 23:27:42
votercheetah
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2018/01/18 23:27:27
voterbackpackceo
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2018/01/18 23:27:27
parent author
parent permlinkusi
authorbackpackceo
permlinkusi-tech-to-shutdown-distribution-marketing-operations-amidst-scam-allegations
titleUSI-Tech To Shutdown Distribution, Marketing Operations Amidst Scam Allegations
body![](https://steemitimages.com/DQmUDgAF7wDd73Tg9mbUxiKiHwspCtZchLEKhrAketnMSNR/image.png) Crypto investors beware: the government is starting to crack down on fraudulent Bitcoin schemes. On January 6, USI-Tech issued a letter to its North American affiliates terminating all distribution agreements. The company also ceased all sales and marketing operations as a result. USI-Tech blamed the move on its affiliates and did not address the allegations made by the Texas securities board. “We were utterly dismayed to learn that a large number of our sales partners extensively advertise our services on their own websites as well as on social media in a manner which is a breach of contract as well as illegal,” the letter stated. “Consequently, we have decided to immediately discontinue our business activities as well as our sales in the US and Canada.” The decision comes as a result of USI-Tech’s failure to register its securities and provide evidence of its mining and investment operations with the State Securities Board. Cease and Desist Last December, The Texas State Securities Board issued an emergency cease and desist to USI-Tech and two promoters, Clifford Thomas and Michael Rivera, following an internal investigation and evidence of securities fraud. USI-Tech bills itself as “the world’s first automated trading platform for the Bitcoin currency”, promising its customers daily growth and “[consistent] returns of up to 150% per year.” But regulators targeted USI-Tech for its lack of transparency and deceptive advertising. “Neither USI-Tech nor the sales agents, Clifford Thomas of Suitland Md., and Michael Rivera of Los Angeles, are registered to sell securities in Texas,” The Texas Securities Board stated in its December news post, “the investment also is not registered in Texas.” USI-Tech attempted to defend itself by claiming that bitcoin investments are not subject to securities law, but a “certified legal product in the USA per the FTC.” The securities board denied this and argued that the board regulates mining investment registrations. The board also claimed that USI-Tech has failed to disclose details regarding its operations. These violations included: Information about the facilities used to mine bitcoins, the costs of mining bitcoins, and whether they have successfully mined bitcoins; The terms of the contracts and an explanation of USI-Tech’s “non-exclusive interest” in mining contracts; and Information about whether the company’s financial condition is strong enough to provide a 1% daily return. Aftermath Affiliates based in the U.S. and Canada have been blocked from their USI-Tech back offices. USI-Tech claims that commissions up to January 6 will be paid out after a 2-week hold. The company will audit all sales received through unapproved or contract-breaching methods. In addition, USI-Tech is advising all of its affiliates to destroy any evidence online promoting USI-Tech’s services. The move is widely seen as an attempt to remove evidence that may incriminate them in further investigations. Just two months ago, USI-Tech launched its own ICO for Techcoin, rewarded for investments and referrals. This ICO was likely an exit strategy to accumulate money before announcing the shutdown. Last week, the Texas State Securities Board also handed cryptocurrency lending and investment platform, Bitconnect, an emergency cease and desist letter.
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      "body": "![](https://steemitimages.com/DQmUDgAF7wDd73Tg9mbUxiKiHwspCtZchLEKhrAketnMSNR/image.png)\n\nCrypto investors beware: the government is starting to crack down on fraudulent Bitcoin schemes.\n\n \n\nOn January 6, USI-Tech issued a letter to its North American affiliates terminating all distribution agreements. The company also ceased all sales and marketing operations as a result.\n\nUSI-Tech blamed the move on its affiliates and did not address the allegations made by the Texas securities board.\n\n“We were utterly dismayed to learn that a large number of our sales partners extensively advertise our services on their own websites as well as on social media in a manner which is a breach of contract as well as illegal,” the letter stated.\n\n“Consequently, we have decided to immediately discontinue our business activities as well as our sales in the US and Canada.”\n\nThe decision comes as a result of USI-Tech’s failure to register its securities and provide evidence of its mining and investment operations with the State Securities Board.\n\n\n\nCease and Desist\nLast December, The Texas State Securities Board issued an emergency cease and desist to USI-Tech and two promoters, Clifford Thomas and Michael Rivera, following an internal investigation and evidence of securities fraud.\n\nUSI-Tech bills itself as “the world’s first automated trading platform for the Bitcoin currency”, promising its customers daily growth and “[consistent] returns of up to 150% per year.”\n\nBut regulators targeted USI-Tech for its lack of transparency and deceptive advertising.\n\n“Neither USI-Tech nor the sales agents, Clifford Thomas of Suitland Md., and Michael Rivera of Los Angeles, are registered to sell securities in Texas,” The Texas Securities Board stated in its December news post, “the investment also is not registered in Texas.”\n\nUSI-Tech attempted to defend itself by claiming that bitcoin investments are not subject to securities law, but a “certified legal product in the USA per the FTC.” The securities board denied this and argued that the board regulates mining investment registrations.\n\nThe board also claimed that USI-Tech has failed to disclose details regarding its operations. These violations included:\n\nInformation about the facilities used to mine bitcoins, the costs of mining bitcoins, and whether they have successfully mined bitcoins;\nThe terms of the contracts and an explanation of USI-Tech’s “non-exclusive interest” in mining contracts; and\nInformation about whether the company’s financial condition is strong enough to provide a 1% daily return.\nAftermath\nAffiliates based in the U.S. and Canada have been blocked from their USI-Tech back offices.  \n\nUSI-Tech claims that commissions up to January 6 will be paid out after a 2-week hold. The company will audit all sales received through unapproved or contract-breaching methods.\n\nIn addition, USI-Tech is advising all of its affiliates to destroy any evidence online promoting USI-Tech’s services. The move is widely seen as an attempt to remove evidence that may incriminate them in further investigations.\n\nJust two months ago, USI-Tech launched its own ICO for Techcoin, rewarded for investments and referrals. This ICO was likely an exit strategy to accumulate money before announcing the shutdown.\n\nLast week, the Texas State Securities Board also handed cryptocurrency lending and investment platform, Bitconnect, an emergency cease and desist letter.",
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backpackceoreceived 0.869 SBD, 0.218 SP author reward for @backpackceo / why-bitshares-why-now
2018/01/17 21:39:06
authorbackpackceo
permlinkwhy-bitshares-why-now
sbd payout0.869 SBD
steem payout0.000 STEEM
vesting payout354.214882 VESTS
Transaction InfoBlock #19067803/Virtual Operation #16
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2018/01/13 09:26:03
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2018/01/13 09:25:24
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2018/01/13 09:18:00
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2018/01/13 09:17:06
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2018/01/13 09:17:06
parent author
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permlinkhow-to-buy-and-sell-on-binance
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body<html> <p>About Binance</p> <p>Binance has steadily grown over the past few months to become one of the largest cryptocurrency exchanges in the world. Just last Wednesday, <a href="https://www.bloomberg.com/news/articles/2018-01-11/world-s-top-ranked-crypto-venue-added-240-000-users-in-one-hour">Binance added 240,000 users in just one hour</a>. It’s no secret that Binance is the place to buy and sell cryptocurrency right now, so we thought we would help out newcomers by creating a helpful guide for signing up and exchanging coins.&nbsp;</p> <h2>Why Should I Use Binance?</h2> <p>For one, <strong>Binance supports multiple languages</strong> (Chinese, English, Japanese, Korean, and more), <strong>and multiple devices</strong> (Web, Mobile, Desktop). This means Binance has more international support than its competitors, leading to larger volumes and greater transactions. Second, <strong>Binance is fast.</strong> Orders are transacted in seconds, and the Binance system supports 1.4 million orders a second. And finally, <strong>Binance supports several popular coins.</strong> Tron (TRX), Ripple (XRP), and VeChain (VEN) are just a few of the most traded coins that can be easily purchased on the exchange.&nbsp;</p> <h2>How Do I Sign Up For Binance?</h2> <p><strong>UPDATE:</strong> As of 1/11/2018, registration on Binance has been suspended due to high traffic. Here’s the official statement from Binance: <em>Fellow Binancians,Due to the overwhelming surge in popularity, Binance will have to temporarily disable new user registrations to allow for an infrastructure upgrade. We apologize for any inconvenience caused.</em> <em>Thank you for your support!</em> <em>Binance Team2018/01/05</em> We’ll update this section once registration opens up again. Binance has also mentioned that only a limited number of registrations will be permitted each day, and registration will be temporarily open for certain times without announcement. — The registration process is simple and only takes a few steps. You will need:&nbsp;</p> <ol> <li>A valid email address</li> <li>A computer or mobile device to access the website</li> <li>Bitcoin or Ethereum for trading</li> </ol> <h1>Step One: Register on the website.<br> <br> <a href="https://www.binance.com/?ref=16756218">REGISTER HERE</a></h1> <p>Head over to the Binance registration page and enter an email address and password. Make sure your password is secure and is between 6-20 characters long with uppercase and lowercase letters. Input the CAPTCHA to verify you’re not a bot, and tick the box agreeing to the terms of use. Click Register. You should receive a verification email within a few seconds.&nbsp;</p> <h2>Step Two: Verify your account.</h2> <p>Check the inbox of the email address you entered. If you don’t receive an email from Binance, make sure to check your spam folder. Inside the email, there should be a verification link. Click on it, and it will take you to a page confirming your signup! We highly recommend that you set up 2FA or 2-Factor Authentication. This adds another layer of security in case someone hacks your account. Even if they have your password, they’ll only be able to access it with a linked Google Authenticator app. <strong>IMPORTANT: If you live in the United States or another country with similar exchange regulations, you may be required to provide some form of ID. You may use a passport, driver’s license, or a government-issued ID.</strong>&nbsp;</p> <h2>Step Three: Deposit funds into your account.</h2> <p>Once you’ve confirmed and signed into your new Binance account, click under “Funds” in the top navigation bar, then “Deposits Withdrawals”. You should see a list of cryptocurrencies that you can deposit into your account. These include:&nbsp;</p> <ul> <li>Litecoin (LTC)</li> <li>Bitcoin (BTC)</li> <li><a href="https://cryptolearningacademy.com/ethereum-everything-you-ever-wanted-to-know-simplified/">Ethereum (ETH)</a></li> <li>NEO</li> <li>Binance Coin (BNB)</li> </ul> <p>Click “Deposit” on whichever coin you want to deposit into your account. An address will pop up, and you can copy paste this into the “Withdraw” section of whichever exchange or wallet you want to take funds from. For example, if you want to pull from your Coinbase account, select “Withdraw” in your Coinbase account and input the Binance address of the wallet you want to deposit to. <strong>IMPORTANT: Make sure that you only deposit a coin into its specific wallet. For example, only use a Litecoin address to deposit Litecoins into. Depositing any other currency might result in the loss of funds. Be careful!</strong> Once you deposit into your Binance account, you can then use that coin to purchase other coins on the exchange! You should be able to check all deposits and withdrawals under Funds &gt; History.&nbsp;</p> <h2>How To Buy And Sell On Binance</h2> <p>Now that you have your account set up, it’s time to start purchasing and selling some coins.&nbsp;</p> <h3>Buying Coins</h3> <ol> <li>While signed into Binance, click on Exchange, and then either Basic or Advanced.</li> </ol> <p>As the name suggests, one is for beginner traders who just need the essential tools, while Advanced is for more seasoned investors, who are comfortable with chart tools such as trend lines and parallel rays. For simplicity, we’ll cover how to exchange coins using the Basic view.&nbsp;</p> <ol> <li>On the top right, enter the ticker symbol for the coin you want to purchase. You can look up symbols on <a href="https://coinmarketcap.com/">CoinMarketCap</a> if you’re not sure what they are.</li> <li>Select the currency you want to use to purchase that coin. For example, if you want to buy Ripple with Bitcoin, select the box that reads BTC, and then the line that says XRP/BTC.</li> <li>In the bottom box, select a limit order (a specific value that the coin reaches) or market order (the current value of the coin). Then input the amount you want to purchase. Again, if you’re not sure, use <a href="https://currencio.co/">Currencio</a> to figure out how much each coin is worth in your local currency. You can also click on the percentage boxes (25%, 50%) to take out that amount from your available funds.</li> <li>Click Buy. You should now have those coins deposited into a wallet in your Binance account! Some coins may need you to specifically use BTC or ETH, so you can use this same method for buying those coins first, and then purchasing the altcoin of your choice.</li> </ol> <h3>Selling Coins</h3> <p>You’ve bought a coin and seen some profit or loss, and you’re ready to sell. The process is just as easy as buying.&nbsp;</p> <ol> <li>While signed into your account, input the coin you want to sell in the same entry field as if you were to buy it. Then select the coin you want to receive in exchange (BTC, ETH etc).</li> <li>On the “Sell” box at the bottom, choose a Market or Limit order. Similar to buying, you can use percentages to decide how much you want to sell.</li> <li>Hit Sell! Your transaction should take place in a matter of seconds, at the value you specified.</li> </ol> <p>That’s it! It doesn’t take an investment genius or complicated software, just a few steps and you’re on your way to investing in crypto. It’s important to stay aware of current trends in the industry. Remember, cryptocurrency investment can be volatile. Only invest as much money as you are willing to lose, and always do your own research beforehand. <br> <br> <a href="https://www.binance.com/?ref=16756218">REGISTER FOR BINANCE HERE&nbsp;</a></p> </html>
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      "body": "<html>\n<p>About Binance</p>\n<p>Binance has steadily grown over the past few months to become one of the largest cryptocurrency exchanges in the world. Just last Wednesday, <a href=\"https://www.bloomberg.com/news/articles/2018-01-11/world-s-top-ranked-crypto-venue-added-240-000-users-in-one-hour\">Binance added 240,000 users in just one hour</a>. It’s no secret that Binance is the place to buy and sell cryptocurrency right now, so we thought we would help out newcomers by creating a helpful guide for signing up and exchanging coins.&nbsp;</p>\n<h2>Why Should I Use Binance?</h2>\n<p>For one, <strong>Binance supports multiple languages</strong> (Chinese, English, Japanese, Korean, and more), <strong>and multiple devices</strong> (Web, Mobile, Desktop). This means Binance has more international support than its competitors, leading to larger volumes and greater transactions. Second, <strong>Binance is fast.</strong> Orders are transacted in seconds, and the Binance system supports 1.4 million orders a second. And finally, <strong>Binance supports several popular coins.</strong> Tron (TRX), Ripple (XRP), and VeChain (VEN) are just a few of the most traded coins that can be easily purchased on the exchange.&nbsp;</p>\n<h2>How Do I Sign Up For Binance?</h2>\n<p><strong>UPDATE:</strong> As of 1/11/2018, registration on Binance has been suspended due to high traffic. Here’s the official statement from Binance: <em>Fellow Binancians,Due to the overwhelming surge in popularity, Binance will have to temporarily disable new user registrations to allow for an infrastructure upgrade. We apologize for any inconvenience caused.</em> <em>Thank you for your support!</em> <em>Binance Team2018/01/05</em> We’ll update this section once registration opens up again. Binance has also mentioned that only a limited number of registrations will be permitted each day, and registration will be temporarily open for certain times without announcement. — The registration process is simple and only takes a few steps. You will need:&nbsp;</p>\n<ol>\n  <li>A valid email address</li>\n  <li>A computer or mobile device to access the website</li>\n  <li>Bitcoin or Ethereum for trading</li>\n</ol>\n<h1>Step One: Register on the website.<br>\n<br>\n<a href=\"https://www.binance.com/?ref=16756218\">REGISTER HERE</a></h1>\n<p>Head over to the Binance registration page and enter an email address and password. Make sure your password is secure and is between 6-20 characters long with uppercase and lowercase letters. Input the CAPTCHA to verify you’re not a bot, and tick the box agreeing to the terms of use. Click Register. You should receive a verification email within a few seconds.&nbsp;</p>\n<h2>Step Two: Verify your account.</h2>\n<p>Check the inbox of the email address you entered. If you don’t receive an email from Binance, make sure to check your spam folder. Inside the email, there should be a verification link. Click on it, and it will take you to a page confirming your signup! We highly recommend that you set up 2FA or 2-Factor Authentication. This adds another layer of security in case someone hacks your account. Even if they have your password, they’ll only be able to access it with a linked Google Authenticator app. <strong>IMPORTANT: If you live in the United States or another country with similar exchange regulations, you may be required to provide some form of ID. You may use a passport, driver’s license, or a government-issued ID.</strong>&nbsp;</p>\n<h2>Step Three: Deposit funds into your account.</h2>\n<p>Once you’ve confirmed and signed into your new Binance account, click under “Funds” in the top navigation bar, then “Deposits Withdrawals”. You should see a list of cryptocurrencies that you can deposit into your account. These include:&nbsp;</p>\n<ul>\n  <li>Litecoin (LTC)</li>\n  <li>Bitcoin (BTC)</li>\n  <li><a href=\"https://cryptolearningacademy.com/ethereum-everything-you-ever-wanted-to-know-simplified/\">Ethereum (ETH)</a></li>\n  <li>NEO</li>\n  <li>Binance Coin (BNB)</li>\n</ul>\n<p>Click “Deposit” on whichever coin you want to deposit into your account. An address will pop up, and you can copy paste this into the “Withdraw” section of whichever exchange or wallet you want to take funds from. For example, if you want to pull from your Coinbase account, select “Withdraw” in your Coinbase account and input the Binance address of the wallet you want to deposit to. <strong>IMPORTANT: Make sure that you only deposit a coin into its specific wallet. For example, only use a Litecoin address to deposit Litecoins into. Depositing any other currency might result in the loss of funds. Be careful!</strong> Once you deposit into your Binance account, you can then use that coin to purchase other coins on the exchange! You should be able to check all deposits and withdrawals under Funds &gt; History.&nbsp;</p>\n<h2>How To Buy And Sell On Binance</h2>\n<p>Now that you have your account set up, it’s time to start purchasing and selling some coins.&nbsp;</p>\n<h3>Buying Coins</h3>\n<ol>\n  <li>While signed into Binance, click on Exchange, and then either Basic or Advanced.</li>\n</ol>\n<p>As the name suggests, one is for beginner traders who just need the essential tools, while Advanced is for more seasoned investors, who are comfortable with chart tools such as trend lines and parallel rays. For simplicity, we’ll cover how to exchange coins using the Basic view.&nbsp;</p>\n<ol>\n  <li>On the top right, enter the ticker symbol for the coin you want to purchase. You can look up symbols on <a href=\"https://coinmarketcap.com/\">CoinMarketCap</a> if you’re not sure what they are.</li>\n  <li>Select the currency you want to use to purchase that coin. For example, if you want to buy Ripple with Bitcoin, select the box that reads BTC, and then the line that says XRP/BTC.</li>\n  <li>In the bottom box, select a limit order (a specific value that the coin reaches) or market order (the current value of the coin). Then input the amount you want to purchase. Again, if you’re not sure, use <a href=\"https://currencio.co/\">Currencio</a> to figure out how much each coin is worth in your local currency. You can also click on the percentage boxes (25%, 50%) to take out that amount from your available funds.</li>\n  <li>Click Buy. You should now have those coins deposited into a wallet in your Binance account! Some coins may need you to specifically use BTC or ETH, so you can use this same method for buying those coins first, and then purchasing the altcoin of your choice.</li>\n</ol>\n<h3>Selling Coins</h3>\n<p>You’ve bought a coin and seen some profit or loss, and you’re ready to sell. The process is just as easy as buying.&nbsp;</p>\n<ol>\n  <li>While signed into your account, input the coin you want to sell in the same entry field as if you were to buy it. Then select the coin you want to receive in exchange (BTC, ETH etc).</li>\n  <li>On the “Sell” box at the bottom, choose a Market or Limit order. Similar to buying, you can use percentages to decide how much you want to sell.</li>\n  <li>Hit Sell! Your transaction should take place in a matter of seconds, at the value you specified.</li>\n</ol>\n<p>That’s it! It doesn’t take an investment genius or complicated software, just a few steps and you’re on your way to investing in crypto. It’s important to stay aware of current trends in the industry. Remember, cryptocurrency investment can be volatile. Only invest as much money as you are willing to lose, and always do your own research beforehand. <br>\n<br>\n<a href=\"https://www.binance.com/?ref=16756218\">REGISTER FOR BINANCE HERE&nbsp;</a></p>\n</html>",
      "json_metadata": "{\"tags\":[\"binance\",\"exchange\",\"cryptocurrency\",\"bitcoin\",\"bitshares\"],\"links\":[\"https://www.bloomberg.com/news/articles/2018-01-11/world-s-top-ranked-crypto-venue-added-240-000-users-in-one-hour\",\"https://www.binance.com/?ref=16756218\",\"https://cryptolearningacademy.com/ethereum-everything-you-ever-wanted-to-know-simplified/\",\"https://coinmarketcap.com/\",\"https://currencio.co/\"],\"app\":\"steemit/0.1\",\"format\":\"html\"}"
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2018/01/12 09:19:09
voterbackpackceo
authormunali
permlinkre-stan-bitshares-enterprise-alliance-part-1-alice-s-hero-hub-20180112t080543472z
weight10000 (100.00%)
Transaction InfoBlock #18909140/Trx 8ea98117f697e59856f3771e47d4112473e1ce13
View Raw JSON Data
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      "voter": "backpackceo",
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Account Metadata

POSTING JSON METADATA
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JSON METADATA
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Auth Keys

Owner
Single Signature
Public Keys
STM5shRPk5Si8tgasinEryMxak9mLKx5C1FPKzdwRt4us4gDU6Cg21/1
Active
Single Signature
Public Keys
STM5zaa9M5L133uLPXGu8vA5iyZRRomHERhKPMbS4wADJYHZwcj111/1
Posting
Single Signature
Public Keys
STM5LbogcYt2mofy4doH6uHb5js4JmjxB3mgNU1hz9YLqrsHD1uef1/1
Memo
STM6xAicZ9eNJKzERYe96TJTAGQBRbAimjZXFC1LvsdJrpQ7z5b8S
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[]