Ecoer Logo
VOTING POWER100.00%
DOWNVOTE POWER100.00%
RESOURCE CREDITS100.00%
REPUTATION PROGRESS88.94%
Net Worth
0.136USD
STEEM
0.000STEEM
SBD
0.200SBD
Effective Power
5.001SP
├── Own SP
0.691SP
└── Incoming Deleg
+4.310SP

Detailed Balance

STEEM
balance
0.000STEEM
market_balance
0.000STEEM
savings_balance
0.000STEEM
reward_steem_balance
0.000STEEM
STEEM POWER
Own SP
0.691SP
Delegated Out
0.000SP
Delegation In
4.310SP
Effective Power
5.001SP
Reward SP (pending)
0.000SP
SBD
sbd_balance
0.200SBD
sbd_conversions
0.000SBD
sbd_market_balance
0.000SBD
savings_sbd_balance
0.000SBD
reward_sbd_balance
0.000SBD
{
  "balance": "0.000 STEEM",
  "savings_balance": "0.000 STEEM",
  "reward_steem_balance": "0.000 STEEM",
  "vesting_shares": "1124.700467 VESTS",
  "delegated_vesting_shares": "0.000000 VESTS",
  "received_vesting_shares": "7018.959339 VESTS",
  "sbd_balance": "0.200 SBD",
  "savings_sbd_balance": "0.000 SBD",
  "reward_sbd_balance": "0.000 SBD",
  "conversions": []
}

Account Info

namecryptobulb
id745305
rank568,921
reputation1255512445
created2018-02-10T19:43:48
recovery_accountsteem
proxyNone
post_count12
comment_count0
lifetime_vote_count0
witnesses_voted_for0
last_post2018-03-25T16:37:03
last_root_post2018-03-25T16:37:03
last_vote_time2018-02-22T16:30:42
proxied_vsf_votes0, 0, 0, 0
can_vote1
voting_power0
delayed_votes0
balance0.000 STEEM
savings_balance0.000 STEEM
sbd_balance0.200 SBD
savings_sbd_balance0.000 SBD
vesting_shares1124.700467 VESTS
delegated_vesting_shares0.000000 VESTS
received_vesting_shares7018.959339 VESTS
reward_vesting_balance0.000000 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_update2018-02-11T18:44:54
minedNo
sbd_seconds0
sbd_last_interest_payment2018-02-26T09:50:42
savings_sbd_last_interest_payment1970-01-01T00:00:00
{
  "active": {
    "account_auths": [],
    "key_auths": [
      [
        "STM583PwE5bEjj1B9YBj7HjTj7UiyikBSpmxY29XtRJMu3gKCio5W",
        1
      ]
    ],
    "weight_threshold": 1
  },
  "balance": "0.000 STEEM",
  "can_vote": true,
  "comment_count": 0,
  "created": "2018-02-10T19:43:48",
  "curation_rewards": 0,
  "delegated_vesting_shares": "0.000000 VESTS",
  "downvote_manabar": {
    "current_mana": 2035914951,
    "last_update_time": 1779058746
  },
  "guest_bloggers": [],
  "id": 745305,
  "json_metadata": "{\"profile\":{\"profile_image\":\"https://s5.postimg.org/6o9zhfs6f/logo-big-twitter.png\",\"name\":\"cryptobulb\"}}",
  "last_account_recovery": "1970-01-01T00:00:00",
  "last_account_update": "2018-02-11T18:44:54",
  "last_owner_update": "1970-01-01T00:00:00",
  "last_post": "2018-03-25T16:37:03",
  "last_root_post": "2018-03-25T16:37:03",
  "last_vote_time": "2018-02-22T16:30:42",
  "lifetime_vote_count": 0,
  "market_history": [],
  "memo_key": "STM6CwoyeZ1XtcQKSkmyW3Sg4TmNKkHi4shGdiYyYWrKm5uATtHUh",
  "mined": false,
  "name": "cryptobulb",
  "next_vesting_withdrawal": "1969-12-31T23:59:59",
  "other_history": [],
  "owner": {
    "account_auths": [],
    "key_auths": [
      [
        "STM5kau9J86LLtfy1cHa1RfGcfmtm1QDRXhGTudaHxjngKXrWq4dG",
        1
      ]
    ],
    "weight_threshold": 1
  },
  "pending_claimed_accounts": 0,
  "post_bandwidth": 0,
  "post_count": 12,
  "post_history": [],
  "posting": {
    "account_auths": [],
    "key_auths": [
      [
        "STM7hc2uhAXMKzEPE7DXBs4rPiZY3FadBrZ3Q5BAnQWur9CRnvxEc",
        1
      ]
    ],
    "weight_threshold": 1
  },
  "posting_json_metadata": "{\"profile\":{\"profile_image\":\"https://s5.postimg.org/6o9zhfs6f/logo-big-twitter.png\",\"name\":\"cryptobulb\"}}",
  "posting_rewards": 99,
  "proxied_vsf_votes": [
    0,
    0,
    0,
    0
  ],
  "proxy": "",
  "received_vesting_shares": "7018.959339 VESTS",
  "recovery_account": "steem",
  "reputation": 1255512445,
  "reset_account": "null",
  "reward_sbd_balance": "0.000 SBD",
  "reward_steem_balance": "0.000 STEEM",
  "reward_vesting_balance": "0.000000 VESTS",
  "reward_vesting_steem": "0.000 STEEM",
  "savings_balance": "0.000 STEEM",
  "savings_sbd_balance": "0.000 SBD",
  "savings_sbd_last_interest_payment": "1970-01-01T00:00:00",
  "savings_sbd_seconds": "0",
  "savings_sbd_seconds_last_update": "1970-01-01T00:00:00",
  "savings_withdraw_requests": 0,
  "sbd_balance": "0.200 SBD",
  "sbd_last_interest_payment": "2018-02-26T09:50:42",
  "sbd_seconds": "0",
  "sbd_seconds_last_update": "2018-02-26T09:50:42",
  "tags_usage": [],
  "to_withdraw": 0,
  "transfer_history": [],
  "vesting_balance": "0.000 STEEM",
  "vesting_shares": "1124.700467 VESTS",
  "vesting_withdraw_rate": "0.000000 VESTS",
  "vote_history": [],
  "voting_manabar": {
    "current_mana": "8143659806",
    "last_update_time": 1779058746
  },
  "voting_power": 0,
  "withdraw_routes": 0,
  "withdrawn": 0,
  "witness_votes": [],
  "witnesses_voted_for": 0,
  "rank": 568921
}

Withdraw Routes

IncomingOutgoing
Empty
Empty
{
  "incoming": [],
  "outgoing": []
}
From Date
To Date
steemdelegated 4.310 SP to @cryptobulb
2026/05/17 22:59:06
delegateecryptobulb
delegatorsteem
vesting shares7018.959339 VESTS
Transaction InfoBlock #106141934/Trx fbcc7f8f321534cb8988d9bb203953b8d715b0c0
View Raw JSON Data
{
  "block": 106141934,
  "op": [
    "delegate_vesting_shares",
    {
      "delegatee": "cryptobulb",
      "delegator": "steem",
      "vesting_shares": "7018.959339 VESTS"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2026-05-17T22:59:06",
  "trx_id": "fbcc7f8f321534cb8988d9bb203953b8d715b0c0",
  "trx_in_block": 1,
  "virtual_op": 0
}
steemdelegated 2.645 SP to @cryptobulb
2026/05/11 22:46:54
delegateecryptobulb
delegatorsteem
vesting shares4306.748934 VESTS
Transaction InfoBlock #105969653/Trx 61912b45f8efb2d48ee5ef06262033d81fe1a594
View Raw JSON Data
{
  "block": 105969653,
  "op": [
    "delegate_vesting_shares",
    {
      "delegatee": "cryptobulb",
      "delegator": "steem",
      "vesting_shares": "4306.748934 VESTS"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2026-05-11T22:46:54",
  "trx_id": "61912b45f8efb2d48ee5ef06262033d81fe1a594",
  "trx_in_block": 1,
  "virtual_op": 0
}
steemdelegated 4.318 SP to @cryptobulb
2026/04/25 22:22:03
delegateecryptobulb
delegatorsteem
vesting shares7031.475095 VESTS
Transaction InfoBlock #105509621/Trx 86744bb65c84f05c23f8f2199209f041067e83e1
View Raw JSON Data
{
  "block": 105509621,
  "op": [
    "delegate_vesting_shares",
    {
      "delegatee": "cryptobulb",
      "delegator": "steem",
      "vesting_shares": "7031.475095 VESTS"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2026-04-25T22:22:03",
  "trx_id": "86744bb65c84f05c23f8f2199209f041067e83e1",
  "trx_in_block": 1,
  "virtual_op": 0
}
steemdelegated 2.670 SP to @cryptobulb
2026/01/23 04:26:51
delegateecryptobulb
delegatorsteem
vesting shares4348.295753 VESTS
Transaction InfoBlock #102847793/Trx d313e45c3c56da126ab5bc82321e7e2336a4b223
View Raw JSON Data
{
  "block": 102847793,
  "op": [
    "delegate_vesting_shares",
    {
      "delegatee": "cryptobulb",
      "delegator": "steem",
      "vesting_shares": "4348.295753 VESTS"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2026-01-23T04:26:51",
  "trx_id": "d313e45c3c56da126ab5bc82321e7e2336a4b223",
  "trx_in_block": 0,
  "virtual_op": 0
}
steemdelegated 2.771 SP to @cryptobulb
2024/12/16 23:45:54
delegateecryptobulb
delegatorsteem
vesting shares4512.514950 VESTS
Transaction InfoBlock #91294198/Trx d98e74a9b7a388b0400467cb76a10d798b92fb23
View Raw JSON Data
{
  "block": 91294198,
  "op": [
    "delegate_vesting_shares",
    {
      "delegatee": "cryptobulb",
      "delegator": "steem",
      "vesting_shares": "4512.514950 VESTS"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2024-12-16T23:45:54",
  "trx_id": "d98e74a9b7a388b0400467cb76a10d798b92fb23",
  "trx_in_block": 1,
  "virtual_op": 0
}
steemdelegated 2.875 SP to @cryptobulb
2023/11/13 15:30:18
delegateecryptobulb
delegatorsteem
vesting shares4681.648482 VESTS
Transaction InfoBlock #79848442/Trx 437086b0c10b967a70e67bceb4bc8efb4d7f37ef
View Raw JSON Data
{
  "block": 79848442,
  "op": [
    "delegate_vesting_shares",
    {
      "delegatee": "cryptobulb",
      "delegator": "steem",
      "vesting_shares": "4681.648482 VESTS"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2023-11-13T15:30:18",
  "trx_id": "437086b0c10b967a70e67bceb4bc8efb4d7f37ef",
  "trx_in_block": 1,
  "virtual_op": 0
}
steemdelegated 4.679 SP to @cryptobulb
2023/09/21 20:21:09
delegateecryptobulb
delegatorsteem
vesting shares7618.927268 VESTS
Transaction InfoBlock #78346063/Trx 0a6775b491dcd4fa39738eaad8c21aabd622b063
View Raw JSON Data
{
  "block": 78346063,
  "op": [
    "delegate_vesting_shares",
    {
      "delegatee": "cryptobulb",
      "delegator": "steem",
      "vesting_shares": "7618.927268 VESTS"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2023-09-21T20:21:09",
  "trx_id": "0a6775b491dcd4fa39738eaad8c21aabd622b063",
  "trx_in_block": 3,
  "virtual_op": 0
}
steemdelegated 4.815 SP to @cryptobulb
2022/11/03 10:19:27
delegateecryptobulb
delegatorsteem
vesting shares7840.608706 VESTS
Transaction InfoBlock #69111616/Trx 0a7a92dd2ba12fbcb5125c2025288d9ef94aa42a
View Raw JSON Data
{
  "block": 69111616,
  "op": [
    "delegate_vesting_shares",
    {
      "delegatee": "cryptobulb",
      "delegator": "steem",
      "vesting_shares": "7840.608706 VESTS"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2022-11-03T10:19:27",
  "trx_id": "0a7a92dd2ba12fbcb5125c2025288d9ef94aa42a",
  "trx_in_block": 0,
  "virtual_op": 0
}
steemdelegated 4.950 SP to @cryptobulb
2022/01/17 09:42:00
delegateecryptobulb
delegatorsteem
vesting shares8061.141937 VESTS
Transaction InfoBlock #60807914/Trx 63eac11b912431d44fb20b6832f7562e614002ce
View Raw JSON Data
{
  "block": 60807914,
  "op": [
    "delegate_vesting_shares",
    {
      "delegatee": "cryptobulb",
      "delegator": "steem",
      "vesting_shares": "8061.141937 VESTS"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2022-01-17T09:42:00",
  "trx_id": "63eac11b912431d44fb20b6832f7562e614002ce",
  "trx_in_block": 24,
  "virtual_op": 0
}
steemdelegated 5.063 SP to @cryptobulb
2021/06/13 23:40:06
delegateecryptobulb
delegatorsteem
vesting shares8244.910595 VESTS
Transaction InfoBlock #54606363/Trx c5c6125cb8257dd02086e66edbd791536c962594
View Raw JSON Data
{
  "block": 54606363,
  "op": [
    "delegate_vesting_shares",
    {
      "delegatee": "cryptobulb",
      "delegator": "steem",
      "vesting_shares": "8244.910595 VESTS"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2021-06-13T23:40:06",
  "trx_id": "c5c6125cb8257dd02086e66edbd791536c962594",
  "trx_in_block": 6,
  "virtual_op": 0
}
steemdelegated 5.178 SP to @cryptobulb
2020/12/11 10:00:48
delegateecryptobulb
delegatorsteem
vesting shares8432.332569 VESTS
Transaction InfoBlock #49353870/Trx e8bc47efea7b2dd87afdf76693b355210a0bb7db
View Raw JSON Data
{
  "block": 49353870,
  "op": [
    "delegate_vesting_shares",
    {
      "delegatee": "cryptobulb",
      "delegator": "steem",
      "vesting_shares": "8432.332569 VESTS"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2020-12-11T10:00:48",
  "trx_id": "e8bc47efea7b2dd87afdf76693b355210a0bb7db",
  "trx_in_block": 0,
  "virtual_op": 0
}
steemdelegated 1.175 SP to @cryptobulb
2020/12/06 03:37:54
delegateecryptobulb
delegatorsteem
vesting shares1912.543513 VESTS
Transaction InfoBlock #49205433/Trx 74f6dfc37ef2e0a6a719310b48b2c0a32c1c65d9
View Raw JSON Data
{
  "block": 49205433,
  "op": [
    "delegate_vesting_shares",
    {
      "delegatee": "cryptobulb",
      "delegator": "steem",
      "vesting_shares": "1912.543513 VESTS"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2020-12-06T03:37:54",
  "trx_id": "74f6dfc37ef2e0a6a719310b48b2c0a32c1c65d9",
  "trx_in_block": 5,
  "virtual_op": 0
}
steemdelegated 5.182 SP to @cryptobulb
2020/12/05 11:35:09
delegateecryptobulb
delegatorsteem
vesting shares8438.699208 VESTS
Transaction InfoBlock #49186541/Trx e91abfd05c1a1d40ac60561a7c92a5475827ce31
View Raw JSON Data
{
  "block": 49186541,
  "op": [
    "delegate_vesting_shares",
    {
      "delegatee": "cryptobulb",
      "delegator": "steem",
      "vesting_shares": "8438.699208 VESTS"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2020-12-05T11:35:09",
  "trx_id": "e91abfd05c1a1d40ac60561a7c92a5475827ce31",
  "trx_in_block": 3,
  "virtual_op": 0
}
steemdelegated 1.179 SP to @cryptobulb
2020/11/02 13:09:54
delegateecryptobulb
delegatorsteem
vesting shares1920.017158 VESTS
Transaction InfoBlock #48254891/Trx 578149639f3e25abd246c41cdabb8d244d728d1e
View Raw JSON Data
{
  "block": 48254891,
  "op": [
    "delegate_vesting_shares",
    {
      "delegatee": "cryptobulb",
      "delegator": "steem",
      "vesting_shares": "1920.017158 VESTS"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2020-11-02T13:09:54",
  "trx_id": "578149639f3e25abd246c41cdabb8d244d728d1e",
  "trx_in_block": 2,
  "virtual_op": 0
}
steemdelegated 5.307 SP to @cryptobulb
2020/05/09 04:34:09
delegateecryptobulb
delegatorsteem
vesting shares8641.345782 VESTS
Transaction InfoBlock #43215667/Trx 5dd9a567051a7f72fc4c0aae259b1719a9fa18d7
View Raw JSON Data
{
  "block": 43215667,
  "op": [
    "delegate_vesting_shares",
    {
      "delegatee": "cryptobulb",
      "delegator": "steem",
      "vesting_shares": "8641.345782 VESTS"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2020-05-09T04:34:09",
  "trx_id": "5dd9a567051a7f72fc4c0aae259b1719a9fa18d7",
  "trx_in_block": 11,
  "virtual_op": 0
}
steemdelegated 1.200 SP to @cryptobulb
2020/05/08 08:00:12
delegateecryptobulb
delegatorsteem
vesting shares1953.311140 VESTS
Transaction InfoBlock #43191563/Trx c190381cb7493284a48852f7eead45b915638eff
View Raw JSON Data
{
  "block": 43191563,
  "op": [
    "delegate_vesting_shares",
    {
      "delegatee": "cryptobulb",
      "delegator": "steem",
      "vesting_shares": "1953.311140 VESTS"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2020-05-08T08:00:12",
  "trx_id": "c190381cb7493284a48852f7eead45b915638eff",
  "trx_in_block": 1,
  "virtual_op": 0
}
2020/02/10 20:51:36
authorsteemitboard
bodyCongratulations @cryptobulb! You received a personal award! <table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@cryptobulb/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/@cryptobulb) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=cryptobulb)_</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!
json metadata{"image":["https://steemitboard.com/img/notify.png"]}
parent authorcryptobulb
parent permlinkcrypto-weekly-roundup-03-25-18-when-centralization-fails
permlinksteemitboard-notify-cryptobulb-20200210t205136000z
title
Transaction InfoBlock #40707005/Trx 7bcd588df189d1773d1fb662dcfd90ab5f7ecd53
View Raw JSON Data
{
  "block": 40707005,
  "op": [
    "comment",
    {
      "author": "steemitboard",
      "body": "Congratulations @cryptobulb! You received a personal award!\n\n<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@cryptobulb/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/@cryptobulb) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=cryptobulb)_</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!",
      "json_metadata": "{\"image\":[\"https://steemitboard.com/img/notify.png\"]}",
      "parent_author": "cryptobulb",
      "parent_permlink": "crypto-weekly-roundup-03-25-18-when-centralization-fails",
      "permlink": "steemitboard-notify-cryptobulb-20200210t205136000z",
      "title": ""
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2020-02-10T20:51:36",
  "trx_id": "7bcd588df189d1773d1fb662dcfd90ab5f7ecd53",
  "trx_in_block": 6,
  "virtual_op": 0
}
steemdelegated 5.422 SP to @cryptobulb
2019/06/16 11:12:30
delegateecryptobulb
delegatorsteem
vesting shares8829.682948 VESTS
Transaction InfoBlock #33848078/Trx c62534882c4f3f2d87d965b91cb2bc6e48850efb
View Raw JSON Data
{
  "block": 33848078,
  "op": [
    "delegate_vesting_shares",
    {
      "delegatee": "cryptobulb",
      "delegator": "steem",
      "vesting_shares": "8829.682948 VESTS"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2019-06-16T11:12:30",
  "trx_id": "c62534882c4f3f2d87d965b91cb2bc6e48850efb",
  "trx_in_block": 34,
  "virtual_op": 0
}
2019/02/10 21:27:18
authorsteemitboard
bodyCongratulations @cryptobulb! You received a personal award! <table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@cryptobulb/birthday1.png</td><td>Happy Birthday! - You are on the Steem blockchain for 1 year!</td></tr></table> <sub>_[Click here to view your Board](https://steemitboard.com/@cryptobulb)_</sub> > Support [SteemitBoard's project](https://steemit.com/@steemitboard)! **[Vote for its witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1)** and **get one more award**!
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2018/05/18 00:19:48
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2018/03/25 17:54:24
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2018/03/25 17:04:54
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2018/03/25 16:37:03
authorcryptobulb
body***“Crypto weekly roundup” is a new series I’d like to introduce here on Steemit. Every Sunday, I will present some major developments in the crypto space and try to make sense of it, zooming out for the bigger picture, and discuss impacts on future crypto technological advancements, market development, and investment opportunities.*** <div class="pull-right">https://s5.postimg.org/de6xvin6v/logo-small.png</div **This week, we cover:** * “Do not harm” regulation approach by G-20 * Facebook privacy breach and the future of the centralized web * Binance under FUD attack, fights back * Traditional stock markets crash, impact on crypto markets But first of all, a quick glace at the markets on Sunday, March 25, 2018: ![Total market cap](https://s5.postimg.org/jjlvp0ulj/total-market-cap-180325.png) *3 month total market cap by [coinmarketcap.com](https://coinmarketcap.com/), last week highlighted* Asset|USD|% gains| % of ATH|Comment -|-|-|-|-| **Total market cap**| **330B**| **18%**| **-60%**|| Bitcoin BTC| 8550| 2,5%| -57%|| Ethereum ETH| 520| 5,6%|-63%| This week’s Top-10* crypto loser Litecoin LTC| 159,5|11,3%| -58%|| Ripple XRP| 0,64|8,6%| -83%|| EOS| 6,55| 58%| -64%| This week’s Top-10* crypto winner Storm STORM| 0,054| 220%|-78% | This week’s Top-100* crypto winner Particl PART| 12,7| -1,4%|-76% | This week’s Top-100* crypto loser (* by total market cap) *I am not a financial advisor, I’m not a lawyer. Do not take my articles as financial advice. I’ll gladly offer my honest insight on these topics, but please note that you are solely responsible for your financial investments, and I take no responsibility for any decisions you make based on my content.* # “Do not harm” regulation approach by G-20 After the crypto market has suffered substantial losses in the last few weeks, which have partly been attributed to uncertainty and fear regarding stringent market regulations and / or bans by the world’s leading economies, this week has started with favorable news preceding the G-20 summit in Argentina, an annual summit of the world’s leading 20 industrial countries talking economics. On ***Monday***, [reports came in](https://www.coindesk.com/financial-stability-board-downplays-crypto-impact-on-global-finance) that in a letter posted by the chairman of the G-20 Financial Stability Board (FSB, coordinating financial regulation across G-20), Mark Carney said that currently, he doesn’t see cryptocurrencies as a thread to global economy due to their comparatively small total market cap. The markets have reacted positively to this news. Later, during the summit, G-20 members have in fact postponed any in-depth discussion about cryptocurrencies until July 2018 so as to leave enough time to build the required knowledge in this still relatively new area of economical discussion. This of course leaves us with some degree of uncertainty. I’ve made this overview picture, presenting a very rough outline of crypto regulations of the G-20 member countries at the time of the G-20 summit this week: <a href="https://s5.postimg.org/5qomr9qut/Cryptoworld-_G20.png?dl=1">![Crypto regulation G-20](https://s5.postimg.org/63g0xg94n/Cryptoworld-_G20.png)</a> Key: Color|Regulations -|-| ![1](https://s5.postimg.org/ahoi9cwkn/g20-green.png)|No national crypto regulation so far| ![2](https://s5.postimg.org/ee1u5c9uf/g20-eu.png)|No EU-wide crypto regulation so far| ![3](https://s5.postimg.org/ruyso8f13/g20-green2.png)|Rather liberal, crypto-friendly regulation in place| ![4](https://s5.postimg.org/92mxknax3/g20-green1-2.png)|Rather liberal, crypto-friendly regulation imminent| ![5](https://s5.postimg.org/yy6o3us6f/g20-red2.png)|Rather stringent crypto regulation in place (e.g. ICO ban)| ![6](https://s5.postimg.org/ruyso7zlj/g20-red.png)|Complete crypto ban in place| ![7](https://s5.postimg.org/ncwhw1yyf/g20-gray.png)|Not a G-20 member| Data mainly comes from these two articles: * [G20 and Cryptocurrencies: Baby Steps Towards Regulatory Recommendations [Coin telegraph]](https://cointelegraph.com/news/g20-and-cryptocurrencies-baby-steps-towards-regulatory-recommendations) * [A snapshot of current crypto regulations of all G20 member states [Medium / Torque Capital Partners]](https://medium.com/@Torquecapital/a-snapshot-of-current-crypto-regulations-of-all-g20-member-states-3b5f80ffac81) ## Crypto and thoughts While historically, the crypto world has evolved out of a rather anarchistic movement, many prominent figures in the crypto space nowadays actually favor solid, pro-crypto regulations rather than ongoing uncertainty; and I agree with these views. First of all, crypto regulations will come eventually after all, and bullish regulations are by far the better option than outright bans and tech-backed wars against those, which would leave no winners. Secondly, governments make a fair point when they say that they want to genuinely protect crypto investors. We’ve seen so many scams, ponzi schemes and pump-and-dump schemes which have destroyed investor’s assets and trust in the market, that now the time has come that we need a well-regulated, juristically sound handle on these illicit practices. Finally, I am convinced that the really “big” money will only flow into the crypto space when big name companies see that there is a regulatory, juristic and fiscal framework in place, removing the shady aspects of crypto investments, and clearing the way for official involvement in crypto trading. This is in my view what will finally bring a crypto bull market of unprecedented dimension. # Facebook privacy breach and the future of the centralized web <center>![Facebook](https://s5.postimg.org/anb3l895z/social-network-76532_640.png)</center> Although not directly related to the crypto space, news about the Cambridge Analytica privacy scandal at Facebook hit the digital world in general and social media like a thundering wave. [As a whistleblower unveiled](https://www.theguardian.com/news/2018/mar/17/cambridge-analytica-facebook-influence-us-election), Facebook has provided data analytics company Cambridge Analytica, which is closely tied to U.S. president Trump’s election team, millions of private user information, allowing them to potentially predict and influence the 2017 U.S. presidential election, without explicit consent from, or even knowledge of, the affected users. In the wake of these revelations, a public outcry echoed through social media, and under the hashtag [#DeleteFacebook](https://twitter.com/hashtag/deletefacebook), a large number of individuals, including prominent figures in the tech industry, have announced that they would remove their Facebook profile as a consequence to this breach of trust. Eventually on ***Wednesday***, [Facebook CEO Mark Zuckerberg apologized](https://www.theguardian.com/technology/2018/mar/21/mark-zuckerberg-response-facebook-cambridge-analytica). On the other hand, one might argue that each and every Facebook user agrees to its (albeit very vague) privacy policy and, consequently, that his data may and will be used according to Facebook’s business model to provide third parties with user data. Herein lays the actual, long-term problem with a social media giant such as Facebook. Because of their centralized nature, these companies have absolute power over the data users provide them. Here, government-driven regulations are much needed, but they will not be enough. There is simply no way to look into these giant black boxes, which have created little “dark webs” of their own, for anybody outside, be it a regulatory body or not, and to see what is really going on under the hood and how user data is stored, treated and shared. ## Crypto and thoughts Now comes the interesting part from a crypto point of view since the blockchain technology actually may be part of the solution to this problem. Blockchain’s promise is to bring decentralization back to the Internet, with data existing in a distributed network, or, as in the case of Bitcoin, in a public ledger. This will spawn a whole new architecture for the web of the future: After Web 2.0, which was mainly driven by so-called cloud computing where data was in the hands of a few big name companies, blockchain will bring distributed computing, which is already referred to as Web 3.0. Of course, to build something like Facebook on the blockchain, a public ledger like Bitcoin is not suitable. A public ledger actually means zero privacy, which is okay since privacy never was a design goal of Bitcoin. But blockchain technology as such is not restricted to a public ledger architecture. Actually, there are quite a few crypto projects which already work with encrypted transactions, bringing true blockchain-backed privacy. As far as actual currencies are concerned, projects like Monero $XMR (+12 % this week) and Zcash $ZEC (+13 % this week) come to mind. Another promising project, Enigma $ENG (+72 % this week), tries to bring privacy to decentralized data in general. In one of their presentations, they illustrate this by the use-case of a pharmaceutical company collecting anonymized data from participants who in turn get rewarded for sharing their data which gets encrypted and is never exposed: https://www.youtube.com/watch?v=qeJn8YgDIlw One could imagine that with a similar technology, [it would be possible to build a decentralized social network](https://www.theguardian.com/commentisfree/2018/mar/21/blockchain-privacy-data-protection-cambridge-analytica) where users share their private data without it being exposed. Decentralized applications, or dapps, may soon revolutionize the web, and it has already started: take for instance Steemit $STEEM (+24% this week), a decentralized alternative to Blogger, [DTube](https://d.tube/), a decentralized alternative to YouTube, or, launched recently by [Blockstack](https://blockstack.org/) $STX, [Graphite](https://www.graphitedocs.com/), a decentralized alternative to Google docs. Today’s big name social media companies will have to adapt quickly to these new developments. # Binance under FUD attack, fights back ![Malta](https://s5.postimg.org/9l0x2p5s7/sunrise-2160781_1280.jpg) The world’s largest crypto exchange by volume, Binance $BNB (+60% this week), had a few rocky, but also exciting weeks, and this week was no different. Through all the trouble it has managed not only to stay afloat but to actually strengthen its position: * On March 7, an [attempted hacker attack](https://support.binance.com/hc/en-us/articles/360001547431-Summary-of-the-Phishing-and-Attempted-Stealing-Incident-on-Binance) on Binance has failed. Binance and especially its CEO CZ were quick to clarify that the attack has been repelled, and that no funds were stolen. * On March 11, Binance went one step further and [announced a bounty](https://support.binance.com/hc/en-us/articles/360001615252-Binance-Hacker-Bounty) of $250k USD for “information that leads to the legal arrest of the hackers involved in the attempted hacking incident”. * On March 13, Binance announced they would [create a new decentralized crypto exchange](https://support.binance.com/hc/en-us/articles/360001668872-Binance-Chain), and that the BNB token would be upgraded to work on the intended underlying blockchain. * Finally, on ***Friday*** March 23, Japan’s Financial Services Authority (JFSA) has [issued a warning](https://www.coindesk.com/japan-warns-crypto-exchange-binance-licensing-issue/) on Binance’s unregistered status, de facto urging them to leave the country. Especially this last news has created high uncertainty amongst investors after rumors about the Japanese ban have circulated since Thursday: According to Binance, they have first heard about the government-issued warning from the Japanese news outlet Nikkei, [through which apparently the JFSA has leaked its warning](https://cointelegraph.com/news/nikkei-report-japan-to-issue-warning-against-crypto-exchange-binance-twitter-cries-fud) before sending the actual official letter. But again, Binance has addressed the issue promptly and transparently. When they finally received the JFSA letter, in a surprising turn, they announced that they would simply shut down their subsidiary in Japan and instead [open a new branch in E.U. member country Malta](https://cointelegraph.com/news/major-crypto-exchange-binance-to-open-office-in-malta-after-japanese-regulator-warning), a step which apparently has been carefully prepared by working closely with the Malta government. Binance’s very open and quick communication, especially by its CEO [CZ](https://twitter.com/cz_binance) though his twitter channel, has been widely applauded by the crypto community as a stark contrast to more reluctant (or even misleading) communication practices by other crypto exchanges recently (e.g. Coinbase, on the topic of Ripple). “Way to go” say many in the crypto space, and the prospect of a Binance-led distributed trading platform plus rumors about Binance potentially aiming to offer a fiat-to-crypto exchange in the future have rightfully raised BNB token prices. ## Crypto and thoughts Personally, I will consider taking my fiat money away from Coinbase as soon as Binance has implemented fiat-to-crypto payments and putting it into the trusty hands of Binance. One might expect that with the move to the European Union, at least EUR-to-crypto conversion on Binance is one step closer. Also, I’m happy to see Binance making a strong case for national pro-crypto jurisdiction: In the globalized world of crypto trading, if one country refuses to provide the necessary framework for crypto businesses to thrive, other countries will gladly step in. This should mark yet another example especially for other G-20 members. A healthy organization such as Binance is obviously flexible enough to relocate if things go amiss, e.g. on a political level. If in the future, Binance manages to implement their plans for a decentralized exchange, this will strengthen their position even further. Personally, I see a bright future for this exchange, and potentially for all BNB holders. # Traditional stock markets crash, impact on crypto markets This week has also seen the traditional stock markets, in a bearish mode already since February, taking another dramatic dip which experts clearly attributed to the U.S. administration’s move to apply tariffs which may provoke a trade war with China. Indeed, this March is about to mark the worst performance of Dow Jones in the last 40 years, with the index closing even below the February low-point on Friday, marking a new all-time-low for about 4 months. Here in the crypto space, many now wonder how the crypto market is going to react to a prolonged bear market in the traditional stocks market. I’m sure many technical analysts will jump at this topic now but the truth is that we simply do not know. If you just take a brief look at the historic data, you may find that there might indeed be a correlation between the total crypto market capitalization and, say, the Dow Jones index. But there’s simply not enough data, and correlations may still be random. For instance, it is still not clear whether the Dec / Jan / Feb crypto price drop should be attributed to the Mt. Gox trustee incident which flooded the market with found-again bitcoins or whether the simultaneous traditional market pull down had an impact. <center>![Dow Jones vs. Crypto markets](https://s5.postimg.org/d5wslohyv/dj-crypto.png)</center> *1 year performance of Dow Jones by [Google](https://www.google.com/), compared to total crypto market cap by [coinmarketcap.com](https://coinmarketcap.com/)* By the end of the business week, crypto markets seemed to look rather healthy with a clear upwards tick. So the question is: * Will we see people holding back their investments in those times of uncertainty? * Or will we actually see the opposite strategy, namely people taking away their investments from traditional markets and putting them into the crypto markets? I would assert that we can be pretty sure there is no imminent cure for the current bearish trend in the traditional markets. This trend clearly has to be attributed to the U.S. administration’s change in trading policies (which, as some might argue, may in turn be attributed to the administration’s lack in knowledge about economic realities and mechanics), and there is no indication that the current economical direction will be changed on a political level. ## Crypto and thoughts As a crypto investor, I for one am happy the investments I’m involved in do not depend on the arbitrary choices of a single central authority which may or may not serve the general public interests or its own agenda, but rather, that my investments drive technological advancements which aim to have a positive impact on our digitalized world, and as such on the development of human interactions and humanity overall. Where knowledge is decentralized, power is decentralized as well. # A closing personal note This was my first issue of “Crypto weekly roundup”. Thank you for your interest! I hope you enjoyed the read. I’ve only just started here on Steemit. Actually, in my last article, I announced that I would not continue using the Steemit platform until one of its central flaws is amended: the inability to edit posts. I still stand true to what I have written a month ago. I still think this is a major issue and in fact, it still prevents me from writing general-knowledge articles since this technical limitation prevents me from later update and correct past articles, which I cannot reconcile with my quality standards. These small weekly articles however I will write in a “fire & forget” manner. Please note that they only reflect my knowledge and thinking at the time the article was written, and that I have no possibility to later make corrections. I hope that these articles still prove useful. I will primarily use them for myself to take a look back at the last week and reflect on the big news that have come upon the crypto world and what their short- and long-term impact might be. If I still feel this way in a week or two (two because Easter is around the corner…) I will continue this series.
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      "body": "***“Crypto weekly roundup” is a new series I’d like to introduce here on Steemit. Every Sunday, I will present some major developments in the crypto space and try to make sense of it, zooming out for the bigger picture, and discuss impacts on future crypto technological advancements, market development, and investment opportunities.***\n\n<div class=\"pull-right\">https://s5.postimg.org/de6xvin6v/logo-small.png</div\n\n**This week, we cover:**\n* “Do not harm” regulation approach by G-20\n* Facebook privacy breach and the future of the centralized web\n* Binance under FUD attack, fights back\n* Traditional stock markets crash, impact on crypto markets\n\nBut first of all, a quick glace at the markets on Sunday, March 25, 2018:\n\n![Total market cap](https://s5.postimg.org/jjlvp0ulj/total-market-cap-180325.png)\n\n*3 month total market cap by [coinmarketcap.com](https://coinmarketcap.com/), last week highlighted*\n\nAsset|USD|% gains| % of ATH|Comment\n-|-|-|-|-|\n**Total market cap**| **330B**| **18%**| **-60%**||\nBitcoin BTC| 8550| 2,5%| -57%||\nEthereum ETH| 520| 5,6%|-63%| This week’s Top-10* crypto loser\nLitecoin LTC| 159,5|11,3%| -58%||\nRipple XRP| 0,64|8,6%| -83%||\nEOS| 6,55| 58%| -64%| This week’s Top-10* crypto winner\nStorm STORM| 0,054| 220%|-78% | This week’s Top-100* crypto winner\nParticl PART| 12,7| -1,4%|-76% | This week’s Top-100* crypto loser\n\n(* by total market cap)\n\n*I am not a financial advisor, I’m not a lawyer. Do not take my articles as financial advice. I’ll gladly offer my honest insight on these topics, but please note that you are solely responsible for your financial investments, and I take no responsibility for any decisions you make based on my content.*\n\n# “Do not harm” regulation approach by G-20\nAfter the crypto market has suffered substantial losses in the last few weeks, which have partly been attributed to uncertainty and fear regarding stringent market regulations and / or bans by the world’s leading economies, this week has started with favorable news preceding the G-20 summit in Argentina, an annual summit of the world’s leading 20 industrial countries talking economics. On ***Monday***, [reports came in](https://www.coindesk.com/financial-stability-board-downplays-crypto-impact-on-global-finance) that in a letter posted by the chairman of the G-20 Financial Stability Board (FSB, coordinating financial regulation across G-20), Mark Carney said that currently, he doesn’t see cryptocurrencies as a thread to global economy due to their comparatively small total market cap.\n\nThe markets have reacted positively to this news. Later, during the summit, G-20 members have in fact postponed any in-depth discussion about cryptocurrencies until July 2018 so as to leave enough time to build the required knowledge in this still relatively new area of economical discussion. This of course leaves us with some degree of uncertainty.\n\nI’ve made this overview picture, presenting a very rough outline of crypto regulations of the G-20 member countries at the time of the G-20 summit this week:\n\n<a href=\"https://s5.postimg.org/5qomr9qut/Cryptoworld-_G20.png?dl=1\">![Crypto regulation G-20](https://s5.postimg.org/63g0xg94n/Cryptoworld-_G20.png)</a>\n\nKey:\nColor|Regulations\n-|-|\n![1](https://s5.postimg.org/ahoi9cwkn/g20-green.png)|No national crypto regulation so far|\n![2](https://s5.postimg.org/ee1u5c9uf/g20-eu.png)|No EU-wide crypto regulation so far|\n![3](https://s5.postimg.org/ruyso8f13/g20-green2.png)|Rather liberal, crypto-friendly regulation in place|\n![4](https://s5.postimg.org/92mxknax3/g20-green1-2.png)|Rather liberal, crypto-friendly regulation imminent|\n![5](https://s5.postimg.org/yy6o3us6f/g20-red2.png)|Rather stringent crypto regulation in place (e.g. ICO ban)|\n![6](https://s5.postimg.org/ruyso7zlj/g20-red.png)|Complete crypto ban in place|\n![7](https://s5.postimg.org/ncwhw1yyf/g20-gray.png)|Not a G-20 member|\n\nData mainly comes from these two articles:\n* [G20 and Cryptocurrencies: Baby Steps Towards Regulatory Recommendations [Coin telegraph]](https://cointelegraph.com/news/g20-and-cryptocurrencies-baby-steps-towards-regulatory-recommendations)\n* [A snapshot of current crypto regulations of all G20 member states [Medium / Torque Capital Partners]](https://medium.com/@Torquecapital/a-snapshot-of-current-crypto-regulations-of-all-g20-member-states-3b5f80ffac81)\n\n## Crypto and thoughts\nWhile historically, the crypto world has evolved out of a rather anarchistic movement, many prominent figures in the crypto space nowadays actually favor solid, pro-crypto regulations rather than ongoing uncertainty; and I agree with these views.\n\nFirst of all, crypto regulations will come eventually after all, and bullish regulations are by far the better option than outright bans and tech-backed wars against those, which would leave no winners.\n\nSecondly, governments make a fair point when they say that they want to genuinely protect crypto investors. We’ve seen so many scams, ponzi schemes and pump-and-dump schemes which have destroyed investor’s assets and trust in the market, that now the time has come that we need a well-regulated, juristically sound handle on these illicit practices.\n\nFinally, I am convinced that the really “big” money will only flow into the crypto space when big name companies see that there is a regulatory, juristic and fiscal framework in place, removing the shady aspects of crypto investments, and clearing the way for official involvement in crypto trading. This is in my view what will finally bring a crypto bull market of unprecedented dimension.\n\n# Facebook privacy breach and the future of the centralized web\n<center>![Facebook](https://s5.postimg.org/anb3l895z/social-network-76532_640.png)</center>\n\nAlthough not directly related to the crypto space, news about the Cambridge Analytica privacy scandal at Facebook hit the digital world in general and social media like a thundering wave. [As a whistleblower unveiled](https://www.theguardian.com/news/2018/mar/17/cambridge-analytica-facebook-influence-us-election), Facebook has provided data analytics company Cambridge Analytica, which is closely tied to U.S. president Trump’s election team, millions of private user information, allowing them to potentially predict and influence the 2017 U.S. presidential election, without explicit consent from, or even knowledge of, the affected users.\n\nIn the wake of these revelations, a public outcry echoed through social media, and under the hashtag [#DeleteFacebook](https://twitter.com/hashtag/deletefacebook), a large number of individuals, including prominent figures in the tech industry, have announced that they would remove their Facebook profile as a consequence to this breach of trust. Eventually on ***Wednesday***, [Facebook CEO Mark Zuckerberg apologized](https://www.theguardian.com/technology/2018/mar/21/mark-zuckerberg-response-facebook-cambridge-analytica).\n\nOn the other hand, one might argue that each and every Facebook user agrees to its (albeit very vague) privacy policy and, consequently, that his data may and will be used according to Facebook’s business model to provide third parties with user data.\n\nHerein lays the actual, long-term problem with a social media giant such as Facebook. Because of their centralized nature, these companies have absolute power over the data users provide them. Here, government-driven regulations are much needed, but they will not be enough. There is simply no way to look into these giant black boxes, which have created little “dark webs” of their own, for anybody outside, be it a regulatory body or not, and to see what is really going on under the hood and how user data is stored, treated and shared.\n\n## Crypto and thoughts\nNow comes the interesting part from a crypto point of view since the blockchain technology actually may be part of the solution to this problem. Blockchain’s promise is to bring decentralization back to the Internet, with data existing in a distributed network, or, as in the case of Bitcoin, in a public ledger. This will spawn a whole new architecture for the web of the future: After Web 2.0, which was mainly driven by so-called cloud computing where data was in the hands of a few big name companies, blockchain will bring distributed computing, which is already referred to as Web 3.0.\n\nOf course, to build something like Facebook on the blockchain, a public ledger like Bitcoin is not suitable. A public ledger actually means zero privacy, which is okay since privacy never was a design goal of Bitcoin. But blockchain technology as such is not restricted to a public ledger architecture. Actually, there are quite a few crypto projects which already work with encrypted transactions, bringing true blockchain-backed privacy. As far as actual currencies are concerned, projects like Monero $XMR (+12 % this week) and Zcash $ZEC (+13 % this week) come to mind. Another promising project, Enigma $ENG (+72 % this week), tries to bring privacy to decentralized data in general. In one of their presentations, they illustrate this by the use-case of a pharmaceutical company collecting anonymized data from participants who in turn get rewarded for sharing their data which gets encrypted and is never exposed:\n\nhttps://www.youtube.com/watch?v=qeJn8YgDIlw\n\nOne could imagine that with a similar technology, [it would be possible to build a decentralized social network](https://www.theguardian.com/commentisfree/2018/mar/21/blockchain-privacy-data-protection-cambridge-analytica) where users share their private data without it being exposed.\n\nDecentralized applications, or dapps, may soon revolutionize the web, and it has already started: take for instance Steemit $STEEM (+24% this week), a decentralized alternative to Blogger, [DTube](https://d.tube/), a decentralized alternative to YouTube, or, launched recently by [Blockstack](https://blockstack.org/) $STX, [Graphite](https://www.graphitedocs.com/), a decentralized alternative to Google docs. Today’s big name social media companies will have to adapt quickly to these new developments.\n\n# Binance under FUD attack, fights back\n![Malta](https://s5.postimg.org/9l0x2p5s7/sunrise-2160781_1280.jpg)\n\nThe world’s largest crypto exchange by volume, Binance $BNB (+60% this week), had a few rocky, but also exciting weeks, and this week was no different. Through all the trouble it has managed not only to stay afloat but to actually strengthen its position:\n* On March 7, an [attempted hacker attack](https://support.binance.com/hc/en-us/articles/360001547431-Summary-of-the-Phishing-and-Attempted-Stealing-Incident-on-Binance) on Binance has failed. Binance and especially its CEO CZ were quick to clarify that the attack has been repelled, and that no funds were stolen.\n* On March 11, Binance went one step further and [announced a bounty](https://support.binance.com/hc/en-us/articles/360001615252-Binance-Hacker-Bounty) of $250k USD for “information that leads to the legal arrest of the hackers involved in the attempted hacking incident”.\n* On March 13, Binance announced they would [create a new decentralized crypto exchange](https://support.binance.com/hc/en-us/articles/360001668872-Binance-Chain), and that the BNB token would be upgraded to work on the intended underlying blockchain.\n* Finally, on ***Friday*** March 23, Japan’s Financial Services Authority (JFSA) has [issued a warning](https://www.coindesk.com/japan-warns-crypto-exchange-binance-licensing-issue/) on Binance’s unregistered status, de facto urging them to leave the country.\n\nEspecially this last news has created high uncertainty amongst investors after rumors about the Japanese ban have circulated since Thursday: According to Binance, they have first heard about the government-issued warning from the Japanese news outlet Nikkei, [through which apparently the JFSA has leaked its warning](https://cointelegraph.com/news/nikkei-report-japan-to-issue-warning-against-crypto-exchange-binance-twitter-cries-fud) before sending the actual official letter.\n\nBut again, Binance has addressed the issue promptly and transparently. When they finally received the JFSA letter, in a surprising turn, they announced that they would simply shut down their subsidiary in Japan and instead [open a new branch in E.U. member country Malta](https://cointelegraph.com/news/major-crypto-exchange-binance-to-open-office-in-malta-after-japanese-regulator-warning), a step which apparently has been carefully prepared by working closely with the Malta government.\n\nBinance’s very open and quick communication, especially by its CEO [CZ](https://twitter.com/cz_binance) though his twitter channel, has been widely applauded by the crypto community as a stark contrast to more reluctant (or even misleading) communication practices by other crypto exchanges recently (e.g. Coinbase, on the topic of Ripple).\n\n“Way to go” say many in the crypto space, and the prospect of a Binance-led distributed trading platform plus rumors about Binance potentially aiming to offer a fiat-to-crypto exchange in the future have rightfully raised BNB token prices.\n\n## Crypto and thoughts\nPersonally, I will consider taking my fiat money away from Coinbase as soon as Binance has implemented fiat-to-crypto payments and putting it into the trusty hands of Binance. One might expect that with the move to the European Union, at least EUR-to-crypto conversion on Binance is one step closer.\n\nAlso, I’m happy to see Binance making a strong case for national pro-crypto jurisdiction: In the globalized world of crypto trading, if one country refuses to provide the necessary framework for crypto businesses to thrive, other countries will gladly step in. This should mark yet another example especially for other G-20 members.\n\nA healthy organization such as Binance is obviously flexible enough to relocate if things go amiss, e.g. on a political level. If in the future, Binance manages to implement their plans for a decentralized exchange, this will strengthen their position even further. Personally, I see a bright future for this exchange, and potentially for all BNB holders.\n\n# Traditional stock markets crash, impact on crypto markets\nThis week has also seen the traditional stock markets, in a bearish mode already since February, taking another dramatic dip which experts clearly attributed to the U.S. administration’s move to apply tariffs which may provoke a trade war with China. Indeed, this March is about to mark the worst performance of Dow Jones in the last 40 years, with the index closing even below the February low-point on Friday, marking a new all-time-low for about 4 months.\n\nHere in the crypto space, many now wonder how the crypto market is going to react to a prolonged bear market in the traditional stocks market. I’m sure many technical analysts will jump at this topic now but the truth is that we simply do not know.\n\nIf you just take a brief look at the historic data, you may find that there might indeed be a correlation between the total crypto market capitalization and, say, the Dow Jones index. But there’s simply not enough data, and correlations may still be random. For instance, it is still not clear whether the Dec / Jan / Feb crypto price drop should be attributed to the Mt. Gox trustee incident which flooded the market with found-again bitcoins or whether the simultaneous traditional market pull down had an impact.\n\n<center>![Dow Jones vs. Crypto markets](https://s5.postimg.org/d5wslohyv/dj-crypto.png)</center>\n\n*1 year performance of Dow Jones by [Google](https://www.google.com/), compared to total crypto market cap by [coinmarketcap.com](https://coinmarketcap.com/)*\n\nBy the end of the business week, crypto markets seemed to look rather healthy with a clear upwards tick. So the question is:\n* Will we see people holding back their investments in those times of uncertainty?\n* Or will we actually see the opposite strategy, namely people taking away their investments from traditional markets and putting them into the crypto markets?\n\nI would assert that we can be pretty sure there is no imminent cure for the current bearish trend in the traditional markets. This trend clearly has to be attributed to the U.S. administration’s change in trading policies (which, as some might argue, may in turn be attributed to the administration’s lack in knowledge about economic realities and mechanics), and there is no indication that the current economical direction will be changed on a political level.\n\n## Crypto and thoughts\nAs a crypto investor, I for one am happy the investments I’m involved in do not depend on the arbitrary choices of a single central authority which may or may not serve the general public interests or its own agenda, but rather, that my investments drive technological advancements which aim to have a positive impact on our digitalized world, and as such on the development of human interactions and humanity overall. Where knowledge is decentralized, power is decentralized as well.\n\n# A closing personal note\nThis was my first issue of “Crypto weekly roundup”. Thank you for your interest! I hope you enjoyed the read.\n\nI’ve only just started here on Steemit. Actually, in my last article, I announced that I would not continue using the Steemit platform until one of its central flaws is amended: the inability to edit posts. I still stand true to what I have written a month ago. I still think this is a major issue and in fact, it still prevents me from writing general-knowledge articles since this technical limitation prevents me from later update and correct past articles, which I cannot reconcile with my quality standards.\n\nThese small weekly articles however I will write in a “fire & forget” manner. Please note that they only reflect my knowledge and thinking at the time the article was written, and that I have no possibility to later make corrections.\nI hope that these articles still prove useful. I will primarily use them for myself to take a look back at the last week and reflect on the big news that have come upon the crypto world and what their short- and long-term impact might be. If I still feel this way in a week or two (two because Easter is around the corner…) I will continue this series.",
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cryptobulbdeleted a comment or post
2018/03/25 16:36:24
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2018/03/25 16:35:36
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      "title": "Crypto weekly roundup 03/25/18: When centralization fails"
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2018/03/25 16:34:21
authorcryptobulb
body***“Crypto weekly roundup” is a new series I’d like to introduce here on Steemit. Every Sunday, I will present some major developments in the crypto space and try to make sense of it, zooming out for the bigger picture, and discuss impacts on future crypto technological advancements, market development, and investment opportunities.*** <div class="pull-right">https://s5.postimg.org/de6xvin6v/logo-small.png</div **This week, we cover:** * “Do not harm” regulation approach by G-20 * Facebook privacy breach and the future of the centralized web * Binance under FUD attack, fights back * Traditional stock markets crash, impact on crypto markets But first of all, a quick glace at the markets on Sunday, March 26, 2018: ![Total market cap](https://s5.postimg.org/jjlvp0ulj/total-market-cap-180325.png) *3 month total market cap by [coinmarketcap.com](https://coinmarketcap.com/), last week highlighted* Asset|USD|% gains| % of ATH|Comment -|-|-|-|-| **Total market cap**| **330B**| **18%**| **-60%**|| Bitcoin BTC| 8550| 2,5%| -57%|| Ethereum ETH| 520| 5,6%|-63%| This week’s Top-10* crypto loser Litecoin LTC| 159,5|11,3%| -58%|| Ripple XRP| 0,64|8,6%| -83%|| EOS| 6,55| 58%| -64%| This week’s Top-10* crypto winner Storm STORM| 0,054| 220%|-78% | This week’s Top-100* crypto winner Particl PART| 12,7| -1,4%|-76% | This week’s Top-100* crypto loser (* by total market cap) *I am not a financial advisor, I’m not a lawyer. Do not take my articles as financial advice. I’ll gladly offer my honest insight on these topics, but please note that you are solely responsible for your financial investments, and I take no responsibility for any decisions you make based on my content.* # “Do not harm” regulation approach by G-20 After the crypto market has suffered substantial losses in the last few weeks, which have partly been attributed to uncertainty and fear regarding stringent market regulations and / or bans by the world’s leading economies, this week has started with favorable news preceding the G-20 summit in Argentina, an annual summit of the world’s leading 20 industrial countries talking economics. On ***Monday***, [reports came in](https://www.coindesk.com/financial-stability-board-downplays-crypto-impact-on-global-finance) that in a letter posted by the chairman of the G-20 Financial Stability Board (FSB, coordinating financial regulation across G-20), Mark Carney said that currently, he doesn’t see cryptocurrencies as a thread to global economy due to their comparatively small total market cap. The markets have reacted positively to this news. Later, during the summit, G-20 members have in fact postponed any in-depth discussion about cryptocurrencies until July 2018 so as to leave enough time to build the required knowledge in this still relatively new area of economical discussion. This of course leaves us with some degree of uncertainty. I’ve made this overview picture, presenting a very rough outline of crypto regulations of the G-20 member countries at the time of the G-20 summit this week: <a href="https://s5.postimg.org/5qomr9qut/Cryptoworld-_G20.png?dl=1">![Crypto regulation G-20](https://s5.postimg.org/63g0xg94n/Cryptoworld-_G20.png)</a> Key: Color|Regulations -|-| ![1](https://s5.postimg.org/ahoi9cwkn/g20-green.png)|No national crypto regulation so far| ![2](https://s5.postimg.org/ee1u5c9uf/g20-eu.png)|No EU-wide crypto regulation so far| ![3](https://s5.postimg.org/ruyso8f13/g20-green2.png)|Rather liberal, crypto-friendly regulation in place| ![4](https://s5.postimg.org/92mxknax3/g20-green1-2.png)|Rather liberal, crypto-friendly regulation imminent| ![5](https://s5.postimg.org/yy6o3us6f/g20-red2.png)|Rather stringent crypto regulation in place (e.g. ICO ban)| ![6](https://s5.postimg.org/ruyso7zlj/g20-red.png)|Complete crypto ban in place| ![7](https://s5.postimg.org/ncwhw1yyf/g20-gray.png)|Not a G-20 member| Data mainly comes from these two articles: * [G20 and Cryptocurrencies: Baby Steps Towards Regulatory Recommendations [Coin telegraph]](https://cointelegraph.com/news/g20-and-cryptocurrencies-baby-steps-towards-regulatory-recommendations) * [A snapshot of current crypto regulations of all G20 member states [Medium / Torque Capital Partners]](https://medium.com/@Torquecapital/a-snapshot-of-current-crypto-regulations-of-all-g20-member-states-3b5f80ffac81) ## Crypto and thoughts While historically, the crypto world has evolved out of a rather anarchistic movement, many prominent figures in the crypto space nowadays actually favor solid, pro-crypto regulations rather than ongoing uncertainty; and I agree with these views. First of all, crypto regulations will come eventually after all, and bullish regulations are by far the better option than outright bans and tech-backed wars against those, which would leave no winners. Secondly, governments make a fair point when they say that they want to genuinely protect crypto investors. We’ve seen so many scams, ponzi schemes and pump-and-dump schemes which have destroyed investor’s assets and trust in the market, that now the time has come that we need a well-regulated, juristically sound handle on these illicit practices. Finally, I am convinced that the really “big” money will only flow into the crypto space when big name companies see that there is a regulatory, juristic and fiscal framework in place, removing the shady aspects of crypto investments, and clearing the way for official involvement in crypto trading. This is in my view what will finally bring a crypto bull market of unprecedented dimension. # Facebook privacy breach and the future of the centralized web <center>![Facebook](https://s5.postimg.org/anb3l895z/social-network-76532_640.png)</center> Although not directly related to the crypto space, news about the Cambridge Analytica privacy scandal at Facebook hit the digital world in general and social media like a thundering wave. [As a whistleblower unveiled](https://www.theguardian.com/news/2018/mar/17/cambridge-analytica-facebook-influence-us-election), Facebook has provided data analytics company Cambridge Analytica, which is closely tied to U.S. president Trump’s election team, millions of private user information, allowing them to potentially predict and influence the 2017 U.S. presidential election, without explicit consent from, or even knowledge of, the affected users. In the wake of these revelations, a public outcry echoed through social media, and under the hashtag [#DeleteFacebook](https://twitter.com/hashtag/deletefacebook), a large number of individuals, including prominent figures in the tech industry, have announced that they would remove their Facebook profile as a consequence to this breach of trust. Eventually on ***Wednesday***, [Facebook CEO Mark Zuckerberg apologized](https://www.theguardian.com/technology/2018/mar/21/mark-zuckerberg-response-facebook-cambridge-analytica). On the other hand, one might argue that each and every Facebook user agrees to its (albeit very vague) privacy policy and, consequently, that his data may and will be used according to Facebook’s business model to provide third parties with user data. Herein lays the actual, long-term problem with a social media giant such as Facebook. Because of their centralized nature, these companies have absolute power over the data users provide them. Here, government-driven regulations are much needed, but they will not be enough. There is simply no way to look into these giant black boxes, which have created little “dark webs” of their own, for anybody outside, be it a regulatory body or not, and to see what is really going on under the hood and how user data is stored, treated and shared. ## Crypto and thoughts Now comes the interesting part from a crypto point of view since the blockchain technology actually may be part of the solution to this problem. Blockchain’s promise is to bring decentralization back to the Internet, with data existing in a distributed network, or, as in the case of Bitcoin, in a public ledger. This will spawn a whole new architecture for the web of the future: After Web 2.0, which was mainly driven by so-called cloud computing where data was in the hands of a few big name companies, blockchain will bring distributed computing, which is already referred to as Web 3.0. Of course, to build something like Facebook on the blockchain, a public ledger like Bitcoin is not suitable. A public ledger actually means zero privacy, which is okay since privacy never was a design goal of Bitcoin. But blockchain technology as such is not restricted to a public ledger architecture. Actually, there are quite a few crypto projects which already work with encrypted transactions, bringing true blockchain-backed privacy. As far as actual currencies are concerned, projects like Monero $XMR (+12 % this week) and Zcash $ZEC (+13 % this week) come to mind. Another promising project, Enigma $ENG (+72 % this week), tries to bring privacy to decentralized data in general. In one of their presentations, they illustrate this by the use-case of a pharmaceutical company collecting anonymized data from participants who in turn get rewarded for sharing their data which gets encrypted and is never exposed: https://www.youtube.com/watch?v=qeJn8YgDIlw One could imagine that with a similar technology, [it would be possible to build a decentralized social network](https://www.theguardian.com/commentisfree/2018/mar/21/blockchain-privacy-data-protection-cambridge-analytica) where users share their private data without it being exposed. Decentralized applications, or dapps, may soon revolutionize the web, and it has already started: take for instance Steemit $STEEM (+24% this week), a decentralized alternative to Blogger, [DTube](https://d.tube/), a decentralized alternative to YouTube, or, launched recently by [Blockstack](https://blockstack.org/) $STX, [Graphite](https://www.graphitedocs.com/), a decentralized alternative to Google docs. Today’s big name social media companies will have to adapt quickly to these new developments. # Binance under FUD attack, fights back ![Malta](https://s5.postimg.org/9l0x2p5s7/sunrise-2160781_1280.jpg) The world’s largest crypto exchange by volume, Binance $BNB (+60% this week), had a few rocky, but also exciting weeks, and this week was no different. Through all the trouble it has managed not only to stay afloat but to actually strengthen its position: * On March 7, an [attempted hacker attack](https://support.binance.com/hc/en-us/articles/360001547431-Summary-of-the-Phishing-and-Attempted-Stealing-Incident-on-Binance) on Binance has failed. Binance and especially its CEO CZ were quick to clarify that the attack has been repelled, and that no funds were stolen. * On March 11, Binance went one step further and [announced a bounty](https://support.binance.com/hc/en-us/articles/360001615252-Binance-Hacker-Bounty) of $250k USD for “information that leads to the legal arrest of the hackers involved in the attempted hacking incident”. * On March 13, Binance announced they would [create a new decentralized crypto exchange](https://support.binance.com/hc/en-us/articles/360001668872-Binance-Chain), and that the BNB token would be upgraded to work on the intended underlying blockchain. * Finally, on ***Friday*** March 23, Japan’s Financial Services Authority (JFSA) has [issued a warning](https://www.coindesk.com/japan-warns-crypto-exchange-binance-licensing-issue/) on Binance’s unregistered status, de facto urging them to leave the country. Especially this last news has created high uncertainty amongst investors after rumors about the Japanese ban have circulated since Thursday: According to Binance, they have first heard about the government-issued warning from the Japanese news outlet Nikkei, [through which apparently the JFSA has leaked its warning](https://cointelegraph.com/news/nikkei-report-japan-to-issue-warning-against-crypto-exchange-binance-twitter-cries-fud) before sending the actual official letter. But again, Binance has addressed the issue promptly and transparently. When they finally received the JFSA letter, in a surprising turn, they announced that they would simply shut down their subsidiary in Japan and instead [open a new branch in E.U. member country Malta](https://cointelegraph.com/news/major-crypto-exchange-binance-to-open-office-in-malta-after-japanese-regulator-warning), a step which apparently has been carefully prepared by working closely with the Malta government. Binance’s very open and quick communication, especially by its CEO [CZ](https://twitter.com/cz_binance) though his twitter channel, has been widely applauded by the crypto community as a stark contrast to more reluctant (or even misleading) communication practices by other crypto exchanges recently (e.g. Coinbase, on the topic of Ripple). “Way to go” say many in the crypto space, and the prospect of a Binance-led distributed trading platform plus rumors about Binance potentially aiming to offer a fiat-to-crypto exchange in the future have rightfully raised BNB token prices. ## Crypto and thoughts Personally, I will consider taking my fiat money away from Coinbase as soon as Binance has implemented fiat-to-crypto payments and putting it into the trusty hands of Binance. One might expect that with the move to the European Union, at least EUR-to-crypto conversion on Binance is one step closer. Also, I’m happy to see Binance making a strong case for national pro-crypto jurisdiction: In the globalized world of crypto trading, if one country refuses to provide the necessary framework for crypto businesses to thrive, other countries will gladly step in. This should mark yet another example especially for other G-20 members. A healthy organization such as Binance is obviously flexible enough to relocate if things go amiss, e.g. on a political level. If in the future, Binance manages to implement their plans for a decentralized exchange, this will strengthen their position even further. Personally, I see a bright future for this exchange, and potentially for all BNB holders. # Traditional stock markets crash, impact on crypto markets This week has also seen the traditional stock markets, in a bearish mode already since February, taking another dramatic dip which experts clearly attributed to the U.S. administration’s move to apply tariffs which may provoke a trade war with China. Indeed, this March is about to mark the worst performance of Dow Jones in the last 40 years, with the index closing even below the February low-point on Friday, marking a new all-time-low for about 4 months. Here in the crypto space, many now wonder how the crypto market is going to react to a prolonged bear market in the traditional stocks market. I’m sure many technical analysts will jump at this topic now but the truth is that we simply do not know. If you just take a brief look at the historic data, you may find that there might indeed be a correlation between the total crypto market capitalization and, say, the Dow Jones index. But there’s simply not enough data, and correlations may still be random. For instance, it is still not clear whether the Dec / Jan / Feb crypto price drop should be attributed to the Mt. Gox trustee incident which flooded the market with found-again bitcoins or whether the simultaneous traditional market pull down had an impact. <center>![Dow Jones vs. Crypto markets](https://s5.postimg.org/d5wslohyv/dj-crypto.png)</center> *1 year performance of Dow Jones by [Google](https://www.google.com/), compared to total crypto market cap by [coinmarketcap.com](https://coinmarketcap.com/)* By the end of the business week, crypto markets seemed to look rather healthy with a clear upwards tick. So the question is: * Will we see people holding back their investments in those times of uncertainty? * Or will we actually see the opposite strategy, namely people taking away their investments from traditional markets and putting them into the crypto markets? I would assert that we can be pretty sure there is no imminent cure for the current bearish trend in the traditional markets. This trend clearly has to be attributed to the U.S. administration’s change in trading policies (which, as some might argue, may in turn be attributed to the administration’s lack in knowledge about economic realities and mechanics), and there is no indication that the current economical direction will be changed on a political level. ## Crypto and thoughts As a crypto investor, I for one am happy the investments I’m involved in do not depend on the arbitrary choices of a single central authority which may or may not serve the general public interests or its own agenda, but rather, that my investments drive technological advancements which aim to have a positive impact on our digitalized world, and as such on the development of human interactions and humanity overall. Where knowledge is decentralized, power is decentralized as well. # A closing personal note This was my first issue of “Crypto weekly roundup”. Thank you for your interest! I hope you enjoyed the read. I’ve only just started here on Steemit. Actually, in my last article, I announced that I would not continue using the Steemit platform until one of its central flaws is amended: the inability to edit posts. I still stand true to what I have written a month ago. I still think this is a major issue and in fact, it still prevents me from writing general-knowledge articles since this technical limitation prevents me from later update and correct past articles, which I cannot reconcile with my quality standards. These small weekly articles however I will write in a “fire & forget” manner. Please note that they only reflect my knowledge and thinking at the time the article was written, and that I have no possibility to later make corrections. I hope that these articles still prove useful. I will primarily use them for myself to take a look back at the last week and reflect on the big news that have come upon the crypto world and what their short- and long-term impact might be. If I still feel this way in a week or two (two because Easter is around the corner…) I will continue this series.
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      "author": "cryptobulb",
      "body": "***“Crypto weekly roundup” is a new series I’d like to introduce here on Steemit. Every Sunday, I will present some major developments in the crypto space and try to make sense of it, zooming out for the bigger picture, and discuss impacts on future crypto technological advancements, market development, and investment opportunities.***\n\n<div class=\"pull-right\">https://s5.postimg.org/de6xvin6v/logo-small.png</div\n\n**This week, we cover:**\n* “Do not harm” regulation approach by G-20\n* Facebook privacy breach and the future of the centralized web\n* Binance under FUD attack, fights back\n* Traditional stock markets crash, impact on crypto markets\n\nBut first of all, a quick glace at the markets on Sunday, March 26, 2018:\n\n![Total market cap](https://s5.postimg.org/jjlvp0ulj/total-market-cap-180325.png)\n\n*3 month total market cap by [coinmarketcap.com](https://coinmarketcap.com/), last week highlighted*\n\nAsset|USD|% gains| % of ATH|Comment\n-|-|-|-|-|\n**Total market cap**| **330B**| **18%**| **-60%**||\nBitcoin BTC| 8550| 2,5%| -57%||\nEthereum ETH| 520| 5,6%|-63%| This week’s Top-10* crypto loser\nLitecoin LTC| 159,5|11,3%| -58%||\nRipple XRP| 0,64|8,6%| -83%||\nEOS| 6,55| 58%| -64%| This week’s Top-10* crypto winner\nStorm STORM| 0,054| 220%|-78% | This week’s Top-100* crypto winner\nParticl PART| 12,7| -1,4%|-76% | This week’s Top-100* crypto loser\n\n(* by total market cap)\n\n*I am not a financial advisor, I’m not a lawyer. Do not take my articles as financial advice. I’ll gladly offer my honest insight on these topics, but please note that you are solely responsible for your financial investments, and I take no responsibility for any decisions you make based on my content.*\n\n# “Do not harm” regulation approach by G-20\nAfter the crypto market has suffered substantial losses in the last few weeks, which have partly been attributed to uncertainty and fear regarding stringent market regulations and / or bans by the world’s leading economies, this week has started with favorable news preceding the G-20 summit in Argentina, an annual summit of the world’s leading 20 industrial countries talking economics. On ***Monday***, [reports came in](https://www.coindesk.com/financial-stability-board-downplays-crypto-impact-on-global-finance) that in a letter posted by the chairman of the G-20 Financial Stability Board (FSB, coordinating financial regulation across G-20), Mark Carney said that currently, he doesn’t see cryptocurrencies as a thread to global economy due to their comparatively small total market cap.\n\nThe markets have reacted positively to this news. Later, during the summit, G-20 members have in fact postponed any in-depth discussion about cryptocurrencies until July 2018 so as to leave enough time to build the required knowledge in this still relatively new area of economical discussion. This of course leaves us with some degree of uncertainty.\n\nI’ve made this overview picture, presenting a very rough outline of crypto regulations of the G-20 member countries at the time of the G-20 summit this week:\n\n<a href=\"https://s5.postimg.org/5qomr9qut/Cryptoworld-_G20.png?dl=1\">![Crypto regulation G-20](https://s5.postimg.org/63g0xg94n/Cryptoworld-_G20.png)</a>\n\nKey:\nColor|Regulations\n-|-|\n![1](https://s5.postimg.org/ahoi9cwkn/g20-green.png)|No national crypto regulation so far|\n![2](https://s5.postimg.org/ee1u5c9uf/g20-eu.png)|No EU-wide crypto regulation so far|\n![3](https://s5.postimg.org/ruyso8f13/g20-green2.png)|Rather liberal, crypto-friendly regulation in place|\n![4](https://s5.postimg.org/92mxknax3/g20-green1-2.png)|Rather liberal, crypto-friendly regulation imminent|\n![5](https://s5.postimg.org/yy6o3us6f/g20-red2.png)|Rather stringent crypto regulation in place (e.g. ICO ban)|\n![6](https://s5.postimg.org/ruyso7zlj/g20-red.png)|Complete crypto ban in place|\n![7](https://s5.postimg.org/ncwhw1yyf/g20-gray.png)|Not a G-20 member|\n\nData mainly comes from these two articles:\n* [G20 and Cryptocurrencies: Baby Steps Towards Regulatory Recommendations [Coin telegraph]](https://cointelegraph.com/news/g20-and-cryptocurrencies-baby-steps-towards-regulatory-recommendations)\n* [A snapshot of current crypto regulations of all G20 member states [Medium / Torque Capital Partners]](https://medium.com/@Torquecapital/a-snapshot-of-current-crypto-regulations-of-all-g20-member-states-3b5f80ffac81)\n\n## Crypto and thoughts\nWhile historically, the crypto world has evolved out of a rather anarchistic movement, many prominent figures in the crypto space nowadays actually favor solid, pro-crypto regulations rather than ongoing uncertainty; and I agree with these views.\n\nFirst of all, crypto regulations will come eventually after all, and bullish regulations are by far the better option than outright bans and tech-backed wars against those, which would leave no winners.\n\nSecondly, governments make a fair point when they say that they want to genuinely protect crypto investors. We’ve seen so many scams, ponzi schemes and pump-and-dump schemes which have destroyed investor’s assets and trust in the market, that now the time has come that we need a well-regulated, juristically sound handle on these illicit practices.\n\nFinally, I am convinced that the really “big” money will only flow into the crypto space when big name companies see that there is a regulatory, juristic and fiscal framework in place, removing the shady aspects of crypto investments, and clearing the way for official involvement in crypto trading. This is in my view what will finally bring a crypto bull market of unprecedented dimension.\n\n# Facebook privacy breach and the future of the centralized web\n<center>![Facebook](https://s5.postimg.org/anb3l895z/social-network-76532_640.png)</center>\n\nAlthough not directly related to the crypto space, news about the Cambridge Analytica privacy scandal at Facebook hit the digital world in general and social media like a thundering wave. [As a whistleblower unveiled](https://www.theguardian.com/news/2018/mar/17/cambridge-analytica-facebook-influence-us-election), Facebook has provided data analytics company Cambridge Analytica, which is closely tied to U.S. president Trump’s election team, millions of private user information, allowing them to potentially predict and influence the 2017 U.S. presidential election, without explicit consent from, or even knowledge of, the affected users.\n\nIn the wake of these revelations, a public outcry echoed through social media, and under the hashtag [#DeleteFacebook](https://twitter.com/hashtag/deletefacebook), a large number of individuals, including prominent figures in the tech industry, have announced that they would remove their Facebook profile as a consequence to this breach of trust. Eventually on ***Wednesday***, [Facebook CEO Mark Zuckerberg apologized](https://www.theguardian.com/technology/2018/mar/21/mark-zuckerberg-response-facebook-cambridge-analytica).\n\nOn the other hand, one might argue that each and every Facebook user agrees to its (albeit very vague) privacy policy and, consequently, that his data may and will be used according to Facebook’s business model to provide third parties with user data.\n\nHerein lays the actual, long-term problem with a social media giant such as Facebook. Because of their centralized nature, these companies have absolute power over the data users provide them. Here, government-driven regulations are much needed, but they will not be enough. There is simply no way to look into these giant black boxes, which have created little “dark webs” of their own, for anybody outside, be it a regulatory body or not, and to see what is really going on under the hood and how user data is stored, treated and shared.\n\n## Crypto and thoughts\nNow comes the interesting part from a crypto point of view since the blockchain technology actually may be part of the solution to this problem. Blockchain’s promise is to bring decentralization back to the Internet, with data existing in a distributed network, or, as in the case of Bitcoin, in a public ledger. This will spawn a whole new architecture for the web of the future: After Web 2.0, which was mainly driven by so-called cloud computing where data was in the hands of a few big name companies, blockchain will bring distributed computing, which is already referred to as Web 3.0.\n\nOf course, to build something like Facebook on the blockchain, a public ledger like Bitcoin is not suitable. A public ledger actually means zero privacy, which is okay since privacy never was a design goal of Bitcoin. But blockchain technology as such is not restricted to a public ledger architecture. Actually, there are quite a few crypto projects which already work with encrypted transactions, bringing true blockchain-backed privacy. As far as actual currencies are concerned, projects like Monero $XMR (+12 % this week) and Zcash $ZEC (+13 % this week) come to mind. Another promising project, Enigma $ENG (+72 % this week), tries to bring privacy to decentralized data in general. In one of their presentations, they illustrate this by the use-case of a pharmaceutical company collecting anonymized data from participants who in turn get rewarded for sharing their data which gets encrypted and is never exposed:\n\nhttps://www.youtube.com/watch?v=qeJn8YgDIlw\n\nOne could imagine that with a similar technology, [it would be possible to build a decentralized social network](https://www.theguardian.com/commentisfree/2018/mar/21/blockchain-privacy-data-protection-cambridge-analytica) where users share their private data without it being exposed.\n\nDecentralized applications, or dapps, may soon revolutionize the web, and it has already started: take for instance Steemit $STEEM (+24% this week), a decentralized alternative to Blogger, [DTube](https://d.tube/), a decentralized alternative to YouTube, or, launched recently by [Blockstack](https://blockstack.org/) $STX, [Graphite](https://www.graphitedocs.com/), a decentralized alternative to Google docs. Today’s big name social media companies will have to adapt quickly to these new developments.\n\n# Binance under FUD attack, fights back\n![Malta](https://s5.postimg.org/9l0x2p5s7/sunrise-2160781_1280.jpg)\n\nThe world’s largest crypto exchange by volume, Binance $BNB (+60% this week), had a few rocky, but also exciting weeks, and this week was no different. Through all the trouble it has managed not only to stay afloat but to actually strengthen its position:\n* On March 7, an [attempted hacker attack](https://support.binance.com/hc/en-us/articles/360001547431-Summary-of-the-Phishing-and-Attempted-Stealing-Incident-on-Binance) on Binance has failed. Binance and especially its CEO CZ were quick to clarify that the attack has been repelled, and that no funds were stolen.\n* On March 11, Binance went one step further and [announced a bounty](https://support.binance.com/hc/en-us/articles/360001615252-Binance-Hacker-Bounty) of $250k USD for “information that leads to the legal arrest of the hackers involved in the attempted hacking incident”.\n* On March 13, Binance announced they would [create a new decentralized crypto exchange](https://support.binance.com/hc/en-us/articles/360001668872-Binance-Chain), and that the BNB token would be upgraded to work on the intended underlying blockchain.\n* Finally, on ***Friday*** March 23, Japan’s Financial Services Authority (JFSA) has [issued a warning](https://www.coindesk.com/japan-warns-crypto-exchange-binance-licensing-issue/) on Binance’s unregistered status, de facto urging them to leave the country.\n\nEspecially this last news has created high uncertainty amongst investors after rumors about the Japanese ban have circulated since Thursday: According to Binance, they have first heard about the government-issued warning from the Japanese news outlet Nikkei, [through which apparently the JFSA has leaked its warning](https://cointelegraph.com/news/nikkei-report-japan-to-issue-warning-against-crypto-exchange-binance-twitter-cries-fud) before sending the actual official letter.\n\nBut again, Binance has addressed the issue promptly and transparently. When they finally received the JFSA letter, in a surprising turn, they announced that they would simply shut down their subsidiary in Japan and instead [open a new branch in E.U. member country Malta](https://cointelegraph.com/news/major-crypto-exchange-binance-to-open-office-in-malta-after-japanese-regulator-warning), a step which apparently has been carefully prepared by working closely with the Malta government.\n\nBinance’s very open and quick communication, especially by its CEO [CZ](https://twitter.com/cz_binance) though his twitter channel, has been widely applauded by the crypto community as a stark contrast to more reluctant (or even misleading) communication practices by other crypto exchanges recently (e.g. Coinbase, on the topic of Ripple).\n\n“Way to go” say many in the crypto space, and the prospect of a Binance-led distributed trading platform plus rumors about Binance potentially aiming to offer a fiat-to-crypto exchange in the future have rightfully raised BNB token prices.\n\n## Crypto and thoughts\nPersonally, I will consider taking my fiat money away from Coinbase as soon as Binance has implemented fiat-to-crypto payments and putting it into the trusty hands of Binance. One might expect that with the move to the European Union, at least EUR-to-crypto conversion on Binance is one step closer.\n\nAlso, I’m happy to see Binance making a strong case for national pro-crypto jurisdiction: In the globalized world of crypto trading, if one country refuses to provide the necessary framework for crypto businesses to thrive, other countries will gladly step in. This should mark yet another example especially for other G-20 members.\n\nA healthy organization such as Binance is obviously flexible enough to relocate if things go amiss, e.g. on a political level. If in the future, Binance manages to implement their plans for a decentralized exchange, this will strengthen their position even further. Personally, I see a bright future for this exchange, and potentially for all BNB holders.\n\n# Traditional stock markets crash, impact on crypto markets\nThis week has also seen the traditional stock markets, in a bearish mode already since February, taking another dramatic dip which experts clearly attributed to the U.S. administration’s move to apply tariffs which may provoke a trade war with China. Indeed, this March is about to mark the worst performance of Dow Jones in the last 40 years, with the index closing even below the February low-point on Friday, marking a new all-time-low for about 4 months.\n\nHere in the crypto space, many now wonder how the crypto market is going to react to a prolonged bear market in the traditional stocks market. I’m sure many technical analysts will jump at this topic now but the truth is that we simply do not know.\n\nIf you just take a brief look at the historic data, you may find that there might indeed be a correlation between the total crypto market capitalization and, say, the Dow Jones index. But there’s simply not enough data, and correlations may still be random. For instance, it is still not clear whether the Dec / Jan / Feb crypto price drop should be attributed to the Mt. Gox trustee incident which flooded the market with found-again bitcoins or whether the simultaneous traditional market pull down had an impact.\n\n<center>![Dow Jones vs. Crypto markets](https://s5.postimg.org/d5wslohyv/dj-crypto.png)</center>\n\n*1 year performance of Dow Jones by [Google](https://www.google.com/), compared to total crypto market cap by [coinmarketcap.com](https://coinmarketcap.com/)*\n\nBy the end of the business week, crypto markets seemed to look rather healthy with a clear upwards tick. So the question is:\n* Will we see people holding back their investments in those times of uncertainty?\n* Or will we actually see the opposite strategy, namely people taking away their investments from traditional markets and putting them into the crypto markets?\n\nI would assert that we can be pretty sure there is no imminent cure for the current bearish trend in the traditional markets. This trend clearly has to be attributed to the U.S. administration’s change in trading policies (which, as some might argue, may in turn be attributed to the administration’s lack in knowledge about economic realities and mechanics), and there is no indication that the current economical direction will be changed on a political level.\n\n## Crypto and thoughts\nAs a crypto investor, I for one am happy the investments I’m involved in do not depend on the arbitrary choices of a single central authority which may or may not serve the general public interests or its own agenda, but rather, that my investments drive technological advancements which aim to have a positive impact on our digitalized world, and as such on the development of human interactions and humanity overall. Where knowledge is decentralized, power is decentralized as well.\n\n# A closing personal note\nThis was my first issue of “Crypto weekly roundup”. Thank you for your interest! I hope you enjoyed the read.\n\nI’ve only just started here on Steemit. Actually, in my last article, I announced that I would not continue using the Steemit platform until one of its central flaws is amended: the inability to edit posts. I still stand true to what I have written a month ago. I still think this is a major issue and in fact, it still prevents me from writing general-knowledge articles since this technical limitation prevents me from later update and correct past articles, which I cannot reconcile with my quality standards.\n\nThese small weekly articles however I will write in a “fire & forget” manner. Please note that they only reflect my knowledge and thinking at the time the article was written, and that I have no possibility to later make corrections.\nI hope that these articles still prove useful. I will primarily use them for myself to take a look back at the last week and reflect on the big news that have come upon the crypto world and what their short- and long-term impact might be. If I still feel this way in a week or two (two because Easter is around the corner…) I will continue this series.",
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      "title": "Crypto weekly roundup 03/25/18: When centralization fails"
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  "timestamp": "2018-03-25T16:34:21",
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2018/03/25 16:22:54
authorcryptobulb
body***“Crypto weekly roundup” is a new series I’d like to introduce here on Steemit. Every Sunday, I will present some major developments in the crypto space and try to make sense of it, zooming out for the bigger picture, and discuss impacts on future crypto technological advancements, market development, and investment opportunities.*** <div class="pull-right">https://s5.postimg.org/de6xvin6v/logo-small.png</div **This week, we cover:** * “Do not harm” regulation approach by G-20 * Facebook privacy breach and the future of the centralized web * Binance under FUD attack, fights back * Traditional stock markets crash, impact on crypto markets But first of all, a quick glace at the markets on Sunday, March 26, 2018: ![Total market cap](https://s5.postimg.org/jjlvp0ulj/total-market-cap-180325.png) *3 month total market cap by [coinmarketcap.com](https://coinmarketcap.com/), last week highlighted* Asset|USD|% gains| % of ATH|Comment -|-|-|-|-| **Total market cap**| **330B**| **18%**| **-60%**|| Bitcoin BTC| 8550| 2,5%| -57%|| Ethereum ETH| 520| 5,6%|-63%| This week’s Top-10* crypto loser Litecoin LTC| 159,5|11,3%| -58%|| Ripple XRP| 0,64|8,6%| -83%|| EOS| 6,55| 58%| -64%| This week’s Top-10* crypto winner Storm STORM| 0,054| 220%|-78% | This week’s Top-100* crypto winner Particl PART| 12,7| -1,4%|-76% | This week’s Top-100* crypto loser (* by total market cap) *I am not a financial advisor, I’m not a lawyer. Do not take my articles as financial advice. I’ll gladly offer my honest insight on these topics, but please note that you are solely responsible for your financial investments, and I take no responsibility for any decisions you make based on my content.* # “Do not harm” regulation approach by G-20 After the crypto market has suffered substantial losses in the last few weeks, which have partly been attributed to uncertainty and fear regarding stringent market regulations and / or bans by the world’s leading economies, this week has started with favorable news preceding the G-20 summit in Argentina, an annual summit of the world’s leading 20 industrial countries talking economics. On ***Monday***, [reports came in](https://www.coindesk.com/financial-stability-board-downplays-crypto-impact-on-global-finance) that in a letter posted by the chairman of the G-20 Financial Stability Board (FSB, coordinating financial regulation across G-20), Mark Carney said that currently, he doesn’t see cryptocurrencies as a thread to global economy due to their comparatively small total market cap. The markets have reacted positively to this news. Later, during the summit, G-20 members have in fact postponed any in-depth discussion about cryptocurrencies until July 2018 so as to leave enough time to build the required knowledge in this still relatively new area of economical discussion. This of course leaves us with some degree of uncertainty. I’ve made this overview picture, presenting a very rough outline of crypto regulations of the G-20 member countries at the time of the G-20 summit this week: <a href="https://s5.postimg.org/5qomr9qut/Cryptoworld-_G20.png?dl=1">![Crypto regulation G-20](https://s5.postimg.org/63g0xg94n/Cryptoworld-_G20.png)</a> Key: Color|Regulations -|-| ![1](https://s5.postimg.org/ahoi9cwkn/g20-green.png)|No national crypto regulation so far| ![2](https://s5.postimg.org/ee1u5c9uf/g20-eu.png)|No EU-wide crypto regulation so far| ![3](https://s5.postimg.org/ruyso8f13/g20-green2.png)|Rather liberal, crypto-friendly regulation in place| ![4](https://s5.postimg.org/92mxknax3/g20-green1-2.png)|Rather liberal, crypto-friendly regulation imminent| ![5](https://s5.postimg.org/yy6o3us6f/g20-red2.png)|Rather stringent crypto regulation in place (e.g. ICO ban)| ![6](https://s5.postimg.org/ruyso7zlj/g20-red.png)|Complete crypto ban in place| ![7](https://s5.postimg.org/ncwhw1yyf/g20-gray.png)|Not a G-20 member| Data mainly comes from these two articles: * [G20 and Cryptocurrencies: Baby Steps Towards Regulatory Recommendations [Coin telegraph]](https://cointelegraph.com/news/g20-and-cryptocurrencies-baby-steps-towards-regulatory-recommendations) * [A snapshot of current crypto regulations of all G20 member states [Medium / Torque Capital Partners]](https://medium.com/@Torquecapital/a-snapshot-of-current-crypto-regulations-of-all-g20-member-states-3b5f80ffac81) ## Crypto and thoughts While historically, the crypto world has evolved out of a rather anarchistic movement, many prominent figures in the crypto space nowadays actually favor solid, pro-crypto regulations rather than ongoing uncertainty; and I agree with these views. First of all, crypto regulations will come eventually after all, and bullish regulations are by far the better option than outright bans and tech-backed wars against those, which would leave no winners. Secondly, governments make a fair point when they say that they want to genuinely protect crypto investors. We’ve seen so many scams, ponzi schemes and pump-and-dump schemes which have destroyed investor’s assets and trust in the market, that now the time has come that we need a well-regulated, juristically sound handle on these illicit practices. Finally, I am convinced that the really “big” money will only flow into the crypto space when big name companies see that there is a regulatory, juristic and fiscal framework in place, removing the shady aspects of crypto investments, and clearing the way for official involvement in crypto trading. This is in my view what will finally bring a crypto bull market of unprecedented dimension. # Facebook privacy breach and the future of the centralized web <center>![Facebook](https://s5.postimg.org/anb3l895z/social-network-76532_640.png)</center> Although not directly related to the crypto space, news about the Cambridge Analytica privacy scandal at Facebook hit the digital world in general and social media like a thundering wave. [As a whistleblower unveiled](https://www.theguardian.com/news/2018/mar/17/cambridge-analytica-facebook-influence-us-election), Facebook has provided data analytics company Cambridge Analytica, which is closely tied to U.S. president Trump’s election team, millions of private user information, allowing them to potentially predict and influence the 2017 U.S. presidential election, without explicit consent from, or even knowledge of, the affected users. In the wake of these revelations, a public outcry echoed through social media, and under the hashtag [#DeleteFacebook](https://twitter.com/hashtag/deletefacebook), a large number of individuals, including prominent figures in the tech industry, have announced that they would remove their Facebook profile as a consequence to this breach of trust. Eventually on ***Wednesday***, [Facebook CEO Mark Zuckerberg apologized](https://www.theguardian.com/technology/2018/mar/21/mark-zuckerberg-response-facebook-cambridge-analytica). On the other hand, one might argue that each and every Facebook user agrees to its (albeit very vague) privacy policy and, consequently, that his data may and will be used according to Facebook’s business model to provide third parties with user data. Herein lays the actual, long-term problem with a social media giant such as Facebook. Because of their centralized nature, these companies have absolute power over the data users provide them. Here, government-driven regulations are much needed, but they will not be enough. There is simply no way to look into these giant black boxes, which have created little “dark webs” of their own, for anybody outside, be it a regulatory body or not, and to see what is really going on under the hood and how user data is stored, treated and shared. ## Crypto and thoughts Now comes the interesting part from a crypto point of view since the blockchain technology actually may be part of the solution to this problem. Blockchain’s promise is to bring decentralization back to the Internet, with data existing in a distributed network, or, as in the case of Bitcoin, in a public ledger. This will spawn a whole new architecture for the web of the future: After Web 2.0, which was mainly driven by so-called cloud computing where data was in the hands of a few big name companies, blockchain will bring distributed computing, which is already referred to as Web 3.0. Of course, to build something like Facebook on the blockchain, a public ledger like Bitcoin is not suitable. A public ledger actually means zero privacy, which is okay since privacy never was a design goal of Bitcoin. But blockchain technology as such is not restricted to a public ledger architecture. Actually, there are quite a few crypto projects which already work with encrypted transactions, bringing true blockchain-backed privacy. As far as actual currencies are concerned, projects like Monero $XMR (+12 % this week) and Zcash $ZEC (+13 % this week) come to mind. Another promising project, Enigma $ENG (+72 % this week), tries to bring privacy to decentralized data in general. In one of their presentations, they illustrate this by the use-case of a pharmaceutical company collecting anonymized data from participants who in turn get rewarded for sharing their data which gets encrypted and is never exposed: https://www.youtube.com/watch?v=qeJn8YgDIlw One could imagine that with a similar technology, [it would be possible to build a decentralized social network](https://www.theguardian.com/commentisfree/2018/mar/21/blockchain-privacy-data-protection-cambridge-analytica) where users share their private data without it being exposed. Decentralized applications, or dapps, may soon revolutionize the web, and it has already started: take for instance Steemit $STEEM (+24% this week), a decentralized alternative to Blogger, [DTube](https://d.tube/), a decentralized alternative to YouTube, or, launched recently by [Blockstack](https://blockstack.org/) $STX, [Graphite](https://www.graphitedocs.com/), a decentralized alternative to Google docs. Today’s big name social media companies will have to adapt quickly to these new developments. # Binance under FUD attack, fights back ![Malta](https://s5.postimg.org/9l0x2p5s7/sunrise-2160781_1280.jpg) The world’s largest crypto exchange by volume, Binance $BNB (+60% this week), had a few rocky, but also exciting weeks, and this week was no different. Through all the trouble it has managed not only to stay afloat but to actually strengthen its position: * On March 7, an [attempted hacker attack](https://support.binance.com/hc/en-us/articles/360001547431-Summary-of-the-Phishing-and-Attempted-Stealing-Incident-on-Binance) on Binance has failed. Binance and especially its CEO CZ were quick to clarify that the attack has been repelled, and that no funds were stolen. * On March 11, Binance went one step further and [announced a bounty](https://support.binance.com/hc/en-us/articles/360001615252-Binance-Hacker-Bounty) of $250k USD for “information that leads to the legal arrest of the hackers involved in the attempted hacking incident”. * On March 13, Binance announced they would [create a new decentralized crypto exchange](https://support.binance.com/hc/en-us/articles/360001668872-Binance-Chain), and that the BNB token would be upgraded to work on the intended underlying blockchain. * Finally, on ***Friday*** March 23, Japan’s Financial Services Authority (JFSA) has [issued a warning](https://www.coindesk.com/japan-warns-crypto-exchange-binance-licensing-issue/) on Binance’s unregistered status, de facto urging them to leave the country. Especially this last news has created high uncertainty amongst investors after rumors about the Japanese ban have circulated since Thursday: According to Binance, they have first heard about the government-issued warning from the Japanese news outlet Nikkei, [through which apparently the JFSA has leaked its warning](https://cointelegraph.com/news/nikkei-report-japan-to-issue-warning-against-crypto-exchange-binance-twitter-cries-fud) before sending the actual official letter. But again, Binance has addressed the issue promptly and transparently. When they finally received the JFSA letter, in a surprising turn, they announced that they would simply shut down their subsidiary in Japan and instead [open a new branch in E.U. member country Malta](https://cointelegraph.com/news/major-crypto-exchange-binance-to-open-office-in-malta-after-japanese-regulator-warning), a step which apparently has been carefully prepared by working closely with the Malta government. Binance’s very open and quick communication, especially by its CEO [CZ](https://twitter.com/cz_binance) though his twitter channel, has been widely applauded by the crypto community as a stark contrast to more reluctant (or even misleading) communication practices by other crypto exchanges recently (e.g. Coinbase, on the topic of Ripple). “Way to go” say many in the crypto space, and the prospect of a Binance-led distributed trading platform plus rumors about Binance potentially aiming to offer a fiat-to-crypto exchange in the future have rightfully raised BNB token prices. ## Crypto and thoughts Personally, I will consider taking my fiat money away from Coinbase as soon as Binance has implemented fiat-to-crypto payments and putting it into the trusty hands of Binance. One might expect that with the move to the European Union, at least EUR-to-crypto conversion on Binance is one step closer. Also, I’m happy to see Binance making a strong case for national pro-crypto jurisdiction: In the globalized world of crypto trading, if one country refuses to provide the necessary framework for crypto businesses to thrive, other countries will gladly step in. This should mark yet another example especially for other G-20 members. A healthy organization such as Binance is obviously flexible enough to relocate if things go amiss, e.g. on a political level. If in the future, Binance manages to implement their plans for a decentralized exchange, this will strengthen their position even further. Personally, I see a bright future for this exchange, and potentially for all BNB holders. # Traditional stock markets crash, impact on crypto markets This week has also seen the traditional stock markets, in a bearish mode already since February, taking another dramatic dip which experts clearly attributed to the U.S. administration’s move to apply tariffs which may provoke a trade war with China. Indeed, this March is about to mark the worst performance of Dow Jones in the last 40 years, with the index closing even below the February low-point on Friday, marking a new all-time-low for about 4 months. Here in the crypto space, many now wonder how the crypto market is going to react to a prolonged bear market in the traditional stocks market. I’m sure many technical analysts will jump at this topic now but the truth is that we simply do not know. If you just take a brief look at the historic data, you may find that there might indeed be a correlation between the total crypto market capitalization and, say, the Dow Jones index. But there’s simply not enough data, and correlations may still be random. For instance, it is still not clear whether the Dec / Jan / Feb crypto price drop should be attributed to the Mt. Gox trustee incident which flooded the market with found-again bitcoins or whether the simultaneous traditional market pull down had an impact. <center>![Dow Jones vs. Crypto markets](https://s5.postimg.org/d5wslohyv/dj-crypto.png)</center> *1 year performance of Dow Jones by [Google](https://www.google.com/), compared to total crypto market cap by [coinmarketcap.com](https://coinmarketcap.com/)* By the end of the business week, crypto markets seemed to look rather healthy with a clear upwards tick. So the question is: * Will we see people holding back their investments in those times of uncertainty? * Or will we actually see the opposite strategy, namely people taking away their investments from traditional markets and putting them into the crypto markets? I would assert that we can be pretty sure there is no imminent cure for the current bearish trend in the traditional markets. This trend clearly has to be attributed to the U.S. administration’s change in trading policies (which, as some might argue, may in turn be attributed to the administration’s lack in knowledge about economic realities and mechanics), and there is no indication that the current economical direction will be changed on a political level. ## Crypto and thoughts As a crypto investor, I for one am happy the investments I’m involved in do not depend on the arbitrary choices of a single central authority which may or may not serve the general public interests or its own agenda, but rather, that my investments drive technological advancements which aim to have a positive impact on our digitalized world, and as such on the development of human interactions and humanity overall. Where knowledge is decentralized, power is decentralized as well. # A closing personal note This was my first issue of “Crypto weekly roundup”. Thank you for your interest! I hope you enjoyed the read. I’ve only just started here on Steemit. Actually, in my last article, I announced that I would not continue using the Steemit platform until one of its central flaws is amended: the inability to edit posts. I still stand true to what I have written a month ago. I still think this is a major issue and in fact, it still prevents me from writing general-knowledge articles since this technical limitation prevents me from later update and correct past articles, which I cannot reconcile with my quality standards. These small weekly articles however I will write in a “fire & forget” manner. Please note that they only reflect my knowledge and thinking at the time the article was written, and that I have no possibility to later make corrections. I hope that these articles still prove useful. I will primarily use them for myself to take a look back at the last week and reflect on the big news that have come upon the crypto world and what their short- and long-term impact might be. If I still feel this way in a week or two (two because Easter is around the corner…) I will continue this series.
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permlinkcrypto-weekly-roundup-03-26-18-when-centralization-fails
titleCrypto weekly roundup 03/26/18: When centralization fails
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      "author": "cryptobulb",
      "body": "***“Crypto weekly roundup” is a new series I’d like to introduce here on Steemit. Every Sunday, I will present some major developments in the crypto space and try to make sense of it, zooming out for the bigger picture, and discuss impacts on future crypto technological advancements, market development, and investment opportunities.***\n\n<div class=\"pull-right\">https://s5.postimg.org/de6xvin6v/logo-small.png</div\n\n**This week, we cover:**\n* “Do not harm” regulation approach by G-20\n* Facebook privacy breach and the future of the centralized web\n* Binance under FUD attack, fights back\n* Traditional stock markets crash, impact on crypto markets\n\nBut first of all, a quick glace at the markets on Sunday, March 26, 2018:\n\n![Total market cap](https://s5.postimg.org/jjlvp0ulj/total-market-cap-180325.png)\n\n*3 month total market cap by [coinmarketcap.com](https://coinmarketcap.com/), last week highlighted*\n\nAsset|USD|% gains| % of ATH|Comment\n-|-|-|-|-|\n**Total market cap**| **330B**| **18%**| **-60%**||\nBitcoin BTC| 8550| 2,5%| -57%||\nEthereum ETH| 520| 5,6%|-63%| This week’s Top-10* crypto loser\nLitecoin LTC| 159,5|11,3%| -58%||\nRipple XRP| 0,64|8,6%| -83%||\nEOS| 6,55| 58%| -64%| This week’s Top-10* crypto winner\nStorm STORM| 0,054| 220%|-78% | This week’s Top-100* crypto winner\nParticl PART| 12,7| -1,4%|-76% | This week’s Top-100* crypto loser\n\n(* by total market cap)\n\n*I am not a financial advisor, I’m not a lawyer. Do not take my articles as financial advice. I’ll gladly offer my honest insight on these topics, but please note that you are solely responsible for your financial investments, and I take no responsibility for any decisions you make based on my content.*\n\n# “Do not harm” regulation approach by G-20\nAfter the crypto market has suffered substantial losses in the last few weeks, which have partly been attributed to uncertainty and fear regarding stringent market regulations and / or bans by the world’s leading economies, this week has started with favorable news preceding the G-20 summit in Argentina, an annual summit of the world’s leading 20 industrial countries talking economics. On ***Monday***, [reports came in](https://www.coindesk.com/financial-stability-board-downplays-crypto-impact-on-global-finance) that in a letter posted by the chairman of the G-20 Financial Stability Board (FSB, coordinating financial regulation across G-20), Mark Carney said that currently, he doesn’t see cryptocurrencies as a thread to global economy due to their comparatively small total market cap.\n\nThe markets have reacted positively to this news. Later, during the summit, G-20 members have in fact postponed any in-depth discussion about cryptocurrencies until July 2018 so as to leave enough time to build the required knowledge in this still relatively new area of economical discussion. This of course leaves us with some degree of uncertainty.\n\nI’ve made this overview picture, presenting a very rough outline of crypto regulations of the G-20 member countries at the time of the G-20 summit this week:\n\n<a href=\"https://s5.postimg.org/5qomr9qut/Cryptoworld-_G20.png?dl=1\">![Crypto regulation G-20](https://s5.postimg.org/63g0xg94n/Cryptoworld-_G20.png)</a>\n\nKey:\nColor|Regulations\n-|-|\n![1](https://s5.postimg.org/ahoi9cwkn/g20-green.png)|No national crypto regulation so far|\n![2](https://s5.postimg.org/ee1u5c9uf/g20-eu.png)|No EU-wide crypto regulation so far|\n![3](https://s5.postimg.org/ruyso8f13/g20-green2.png)|Rather liberal, crypto-friendly regulation in place|\n![4](https://s5.postimg.org/92mxknax3/g20-green1-2.png)|Rather liberal, crypto-friendly regulation imminent|\n![5](https://s5.postimg.org/yy6o3us6f/g20-red2.png)|Rather stringent crypto regulation in place (e.g. ICO ban)|\n![6](https://s5.postimg.org/ruyso7zlj/g20-red.png)|Complete crypto ban in place|\n![7](https://s5.postimg.org/ncwhw1yyf/g20-gray.png)|Not a G-20 member|\n\nData mainly comes from these two articles:\n* [G20 and Cryptocurrencies: Baby Steps Towards Regulatory Recommendations [Coin telegraph]](https://cointelegraph.com/news/g20-and-cryptocurrencies-baby-steps-towards-regulatory-recommendations)\n* [A snapshot of current crypto regulations of all G20 member states [Medium / Torque Capital Partners]](https://medium.com/@Torquecapital/a-snapshot-of-current-crypto-regulations-of-all-g20-member-states-3b5f80ffac81)\n\n## Crypto and thoughts\nWhile historically, the crypto world has evolved out of a rather anarchistic movement, many prominent figures in the crypto space nowadays actually favor solid, pro-crypto regulations rather than ongoing uncertainty; and I agree with these views.\n\nFirst of all, crypto regulations will come eventually after all, and bullish regulations are by far the better option than outright bans and tech-backed wars against those, which would leave no winners.\n\nSecondly, governments make a fair point when they say that they want to genuinely protect crypto investors. We’ve seen so many scams, ponzi schemes and pump-and-dump schemes which have destroyed investor’s assets and trust in the market, that now the time has come that we need a well-regulated, juristically sound handle on these illicit practices.\n\nFinally, I am convinced that the really “big” money will only flow into the crypto space when big name companies see that there is a regulatory, juristic and fiscal framework in place, removing the shady aspects of crypto investments, and clearing the way for official involvement in crypto trading. This is in my view what will finally bring a crypto bull market of unprecedented dimension.\n\n# Facebook privacy breach and the future of the centralized web\n<center>![Facebook](https://s5.postimg.org/anb3l895z/social-network-76532_640.png)</center>\n\nAlthough not directly related to the crypto space, news about the Cambridge Analytica privacy scandal at Facebook hit the digital world in general and social media like a thundering wave. [As a whistleblower unveiled](https://www.theguardian.com/news/2018/mar/17/cambridge-analytica-facebook-influence-us-election), Facebook has provided data analytics company Cambridge Analytica, which is closely tied to U.S. president Trump’s election team, millions of private user information, allowing them to potentially predict and influence the 2017 U.S. presidential election, without explicit consent from, or even knowledge of, the affected users.\n\nIn the wake of these revelations, a public outcry echoed through social media, and under the hashtag [#DeleteFacebook](https://twitter.com/hashtag/deletefacebook), a large number of individuals, including prominent figures in the tech industry, have announced that they would remove their Facebook profile as a consequence to this breach of trust. Eventually on ***Wednesday***, [Facebook CEO Mark Zuckerberg apologized](https://www.theguardian.com/technology/2018/mar/21/mark-zuckerberg-response-facebook-cambridge-analytica).\n\nOn the other hand, one might argue that each and every Facebook user agrees to its (albeit very vague) privacy policy and, consequently, that his data may and will be used according to Facebook’s business model to provide third parties with user data.\n\nHerein lays the actual, long-term problem with a social media giant such as Facebook. Because of their centralized nature, these companies have absolute power over the data users provide them. Here, government-driven regulations are much needed, but they will not be enough. There is simply no way to look into these giant black boxes, which have created little “dark webs” of their own, for anybody outside, be it a regulatory body or not, and to see what is really going on under the hood and how user data is stored, treated and shared.\n\n## Crypto and thoughts\nNow comes the interesting part from a crypto point of view since the blockchain technology actually may be part of the solution to this problem. Blockchain’s promise is to bring decentralization back to the Internet, with data existing in a distributed network, or, as in the case of Bitcoin, in a public ledger. This will spawn a whole new architecture for the web of the future: After Web 2.0, which was mainly driven by so-called cloud computing where data was in the hands of a few big name companies, blockchain will bring distributed computing, which is already referred to as Web 3.0.\n\nOf course, to build something like Facebook on the blockchain, a public ledger like Bitcoin is not suitable. A public ledger actually means zero privacy, which is okay since privacy never was a design goal of Bitcoin. But blockchain technology as such is not restricted to a public ledger architecture. Actually, there are quite a few crypto projects which already work with encrypted transactions, bringing true blockchain-backed privacy. As far as actual currencies are concerned, projects like Monero $XMR (+12 % this week) and Zcash $ZEC (+13 % this week) come to mind. Another promising project, Enigma $ENG (+72 % this week), tries to bring privacy to decentralized data in general. In one of their presentations, they illustrate this by the use-case of a pharmaceutical company collecting anonymized data from participants who in turn get rewarded for sharing their data which gets encrypted and is never exposed:\n\nhttps://www.youtube.com/watch?v=qeJn8YgDIlw\n\nOne could imagine that with a similar technology, [it would be possible to build a decentralized social network](https://www.theguardian.com/commentisfree/2018/mar/21/blockchain-privacy-data-protection-cambridge-analytica) where users share their private data without it being exposed.\n\nDecentralized applications, or dapps, may soon revolutionize the web, and it has already started: take for instance Steemit $STEEM (+24% this week), a decentralized alternative to Blogger, [DTube](https://d.tube/), a decentralized alternative to YouTube, or, launched recently by [Blockstack](https://blockstack.org/) $STX, [Graphite](https://www.graphitedocs.com/), a decentralized alternative to Google docs. Today’s big name social media companies will have to adapt quickly to these new developments.\n\n# Binance under FUD attack, fights back\n![Malta](https://s5.postimg.org/9l0x2p5s7/sunrise-2160781_1280.jpg)\n\nThe world’s largest crypto exchange by volume, Binance $BNB (+60% this week), had a few rocky, but also exciting weeks, and this week was no different. Through all the trouble it has managed not only to stay afloat but to actually strengthen its position:\n* On March 7, an [attempted hacker attack](https://support.binance.com/hc/en-us/articles/360001547431-Summary-of-the-Phishing-and-Attempted-Stealing-Incident-on-Binance) on Binance has failed. Binance and especially its CEO CZ were quick to clarify that the attack has been repelled, and that no funds were stolen.\n* On March 11, Binance went one step further and [announced a bounty](https://support.binance.com/hc/en-us/articles/360001615252-Binance-Hacker-Bounty) of $250k USD for “information that leads to the legal arrest of the hackers involved in the attempted hacking incident”.\n* On March 13, Binance announced they would [create a new decentralized crypto exchange](https://support.binance.com/hc/en-us/articles/360001668872-Binance-Chain), and that the BNB token would be upgraded to work on the intended underlying blockchain.\n* Finally, on ***Friday*** March 23, Japan’s Financial Services Authority (JFSA) has [issued a warning](https://www.coindesk.com/japan-warns-crypto-exchange-binance-licensing-issue/) on Binance’s unregistered status, de facto urging them to leave the country.\n\nEspecially this last news has created high uncertainty amongst investors after rumors about the Japanese ban have circulated since Thursday: According to Binance, they have first heard about the government-issued warning from the Japanese news outlet Nikkei, [through which apparently the JFSA has leaked its warning](https://cointelegraph.com/news/nikkei-report-japan-to-issue-warning-against-crypto-exchange-binance-twitter-cries-fud) before sending the actual official letter.\n\nBut again, Binance has addressed the issue promptly and transparently. When they finally received the JFSA letter, in a surprising turn, they announced that they would simply shut down their subsidiary in Japan and instead [open a new branch in E.U. member country Malta](https://cointelegraph.com/news/major-crypto-exchange-binance-to-open-office-in-malta-after-japanese-regulator-warning), a step which apparently has been carefully prepared by working closely with the Malta government.\n\nBinance’s very open and quick communication, especially by its CEO [CZ](https://twitter.com/cz_binance) though his twitter channel, has been widely applauded by the crypto community as a stark contrast to more reluctant (or even misleading) communication practices by other crypto exchanges recently (e.g. Coinbase, on the topic of Ripple).\n\n“Way to go” say many in the crypto space, and the prospect of a Binance-led distributed trading platform plus rumors about Binance potentially aiming to offer a fiat-to-crypto exchange in the future have rightfully raised BNB token prices.\n\n## Crypto and thoughts\nPersonally, I will consider taking my fiat money away from Coinbase as soon as Binance has implemented fiat-to-crypto payments and putting it into the trusty hands of Binance. One might expect that with the move to the European Union, at least EUR-to-crypto conversion on Binance is one step closer.\n\nAlso, I’m happy to see Binance making a strong case for national pro-crypto jurisdiction: In the globalized world of crypto trading, if one country refuses to provide the necessary framework for crypto businesses to thrive, other countries will gladly step in. This should mark yet another example especially for other G-20 members.\n\nA healthy organization such as Binance is obviously flexible enough to relocate if things go amiss, e.g. on a political level. If in the future, Binance manages to implement their plans for a decentralized exchange, this will strengthen their position even further. Personally, I see a bright future for this exchange, and potentially for all BNB holders.\n\n# Traditional stock markets crash, impact on crypto markets\nThis week has also seen the traditional stock markets, in a bearish mode already since February, taking another dramatic dip which experts clearly attributed to the U.S. administration’s move to apply tariffs which may provoke a trade war with China. Indeed, this March is about to mark the worst performance of Dow Jones in the last 40 years, with the index closing even below the February low-point on Friday, marking a new all-time-low for about 4 months.\n\nHere in the crypto space, many now wonder how the crypto market is going to react to a prolonged bear market in the traditional stocks market. I’m sure many technical analysts will jump at this topic now but the truth is that we simply do not know.\n\nIf you just take a brief look at the historic data, you may find that there might indeed be a correlation between the total crypto market capitalization and, say, the Dow Jones index. But there’s simply not enough data, and correlations may still be random. For instance, it is still not clear whether the Dec / Jan / Feb crypto price drop should be attributed to the Mt. Gox trustee incident which flooded the market with found-again bitcoins or whether the simultaneous traditional market pull down had an impact.\n\n<center>![Dow Jones vs. Crypto markets](https://s5.postimg.org/d5wslohyv/dj-crypto.png)</center>\n\n*1 year performance of Dow Jones by [Google](https://www.google.com/), compared to total crypto market cap by [coinmarketcap.com](https://coinmarketcap.com/)*\n\nBy the end of the business week, crypto markets seemed to look rather healthy with a clear upwards tick. So the question is:\n* Will we see people holding back their investments in those times of uncertainty?\n* Or will we actually see the opposite strategy, namely people taking away their investments from traditional markets and putting them into the crypto markets?\n\nI would assert that we can be pretty sure there is no imminent cure for the current bearish trend in the traditional markets. This trend clearly has to be attributed to the U.S. administration’s change in trading policies (which, as some might argue, may in turn be attributed to the administration’s lack in knowledge about economic realities and mechanics), and there is no indication that the current economical direction will be changed on a political level.\n\n## Crypto and thoughts\nAs a crypto investor, I for one am happy the investments I’m involved in do not depend on the arbitrary choices of a single central authority which may or may not serve the general public interests or its own agenda, but rather, that my investments drive technological advancements which aim to have a positive impact on our digitalized world, and as such on the development of human interactions and humanity overall. Where knowledge is decentralized, power is decentralized as well.\n\n# A closing personal note\nThis was my first issue of “Crypto weekly roundup”. Thank you for your interest! I hope you enjoyed the read.\n\nI’ve only just started here on Steemit. Actually, in my last article, I announced that I would not continue using the Steemit platform until one of its central flaws is amended: the inability to edit posts. I still stand true to what I have written a month ago. I still think this is a major issue and in fact, it still prevents me from writing general-knowledge articles since this technical limitation prevents me from later update and correct past articles, which I cannot reconcile with my quality standards.\n\nThese small weekly articles however I will write in a “fire & forget” manner. Please note that they only reflect my knowledge and thinking at the time the article was written, and that I have no possibility to later make corrections.\nI hope that these articles still prove useful. I will primarily use them for myself to take a look back at the last week and reflect on the big news that have come upon the crypto world and what their short- and long-term impact might be. If I still feel this way in a week or two (two because Easter is around the corner…) I will continue this series.",
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2018/03/21 18:20:57
authorcryptobulb
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steemdelegated 18.113 SP to @cryptobulb
2018/03/17 01:48:39
delegateecryptobulb
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cryptobulbclaimed reward balance: 0.042 SBD, 0.016 SP
2018/02/26 09:50:42
accountcryptobulb
reward sbd0.042 SBD
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2018/02/23 11:55:45
authorcryptobulb
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2018/02/22 16:30:42
authorebargains
permlinkre-flurgx-re-netuoso-re-steemitblog-steemit-winter-update-2017-reflection-our-vision-statement-and-mission-and-a-look-forward-20180221t184158300z
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2018/02/20 22:19:33
authorcryptobulb
permlinkre-cryptobobby-another-bitcoin-bull-altcoin-bear-cycle-in-the-works-20180220t213134018z
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2018/02/20 21:31:36
authorcryptobulb
bodyReally solid ~~advice~~ opinion on investment as always on your channel. It's a good and comforting explanation of why my ETH holdings currently fall off the cliff again while BTC is soaring. Simple HODLing probably is not the best way to maximize your profits. I think I will try harder to go with the market flow in the future, selling BTC on its high for cheap altcoins and vice versa.
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2018/02/20 21:20:30
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2018/02/19 19:55:48
authordukeung
bodyLike Binance, Kucoin will relocate if China go stupid.... highly unlikely.
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2018/02/19 17:12:18
authorcryptobulb
bodySame for me. I think that in the long run, KuCoin will either be shut down completely by Chinese government ([unlikely](https://www.reddit.com/r/kucoin/comments/7qx3ap/kucoin_is_registered_in_hong_kong_not_mainland/)) or it will outperform Binance. Regarding the number of coins and their bonus program, they make an attractive alternative.
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2018/02/19 17:11:33
authordukeung
permlinkre-kingscrown-whats-traded-on-top-volume-exchanges-now-20180219t070327304z
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2018/02/19 17:10:06
authorcryptobulb
body**Apparently, this is fake news.** On reddit, people have done some [research](https://www.reddit.com/r/kucoin/comments/7qx3ap/kucoin_is_registered_in_hong_kong_not_mainland/) which seems to proof that KuCoin is actually registered in Hong Kong. Personally, I remain cautious, but positive about KuCoin's future.
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cryptobulbclaimed reward balance: 0.158 SBD, 0.046 SP
2018/02/18 22:21:39
accountcryptobulb
reward sbd0.158 SBD
reward steem0.000 STEEM
reward vests75.633616 VESTS
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cryptobulbreceived 0.158 SBD, 0.046 SP author reward for @cryptobulb / mae-govannen-starting-yet-another-crypto-trading-blog
2018/02/18 19:20:00
authorcryptobulb
permlinkmae-govannen-starting-yet-another-crypto-trading-blog
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2018/02/18 18:45:45
authorcryptobulb
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2018/02/18 18:45:03
authorgrandvizier
bodyNo doubt its a warts and all type of set up, no place to hide , keep moving forward , no looking in the rear view mirror, don't worry about what's behind you, rather thrilling really if you embrace it , I stuck up a picture of my dog licking my dinner plate, I'm glad I can't remove it , that's what I'm resorting to for content and I'm convinced I'm a genius ! Good luck! whatever you decide, I'll up-vote and follow you any how, you're readable !
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2018/02/18 18:19:30
authorcryptobulb
body![new-steemian-struggles.png](https://s5.postimg.org/opcmppdw7/new-steemian-struggles.png) *How have your first days on Steemit been?* (This article is based on my own research. I’m not a Steemit official; actually, I’m just a curious Steemit newbie.) This is only my second post here on Steemit, and I decided it will be my last one, at least for now, until Steemit allows for **unlimited editing of blog posts**. Just in case you, as a reader, have missed it: ***After 7 days, a post on Steemit does no longer acquire upvotes, e.g. it is no longer monetized, and also, it cannot any longer be edited or deleted. This is due to technical limitations, namely the underlying blockchain technology, [as explained in the FAQ](https://steemit.com/faq.html#Can_I_delete_something_I_posted). While I’m okay with the monetization limitation (it actually makes sense form an economical perspective as well), I’m not okay with a limited post editing timeframe, as I will explain later.*** The good news first: # Apparently, this is in the works On the **[Steem GitHub repository](https://github.com/steemit/steem/)** which is the Steemit blockchain’s source code repository, there’s the closed [issue 1714](https://github.com/steemit/steem/issues/1714) which implies that after it goes live, the ability to **edit Steemit posts indefinitely** will be available. The only kinda-official timeframe concerning the planned go-live is *[“soon”](https://github.com/steemit/steem/issues/1714#issuecomment-363530682)*. On GitHub, you can see that this change is part of [a release](https://github.com/steemit/steem/projects/1#card-6147286) which, for the better part, seems done. Since this is a change to the underlying blockchain, I cannot even give an estimate of how long this will take before it is actually “live”. I guess we have to stick with “soon”. Let me know in the comments if you know more. I really hope this is considered a priority because it is a really, really important feature. # Why is this so important? I could bore you with a discourse about privacy and user data sovereignty, but actually my concerns come mainly from a practical point of view. With the current system, it is after 7 days impossible to: * **Fix any errors** * **Update posts** with new information. * Even just **put in a link which points to** a new, updated post. * Realize something like **multi-part series** (over the course of more than 7 days) simply because you couldn’t even add a “read the next part here” link. * **Remove any content** which I want to or have to have removed from the internet (cf. discussion below). For instance, this defeats posts of general knowledge nature because in general, the world and our knowledge about it evolve. Say for instance, I want to write a newbie-guide for crypto. The crypto world evolves fast, and after two weeks, the information may be outdated, maybe even harmful. I could not even make readers aware of this! So really, with these restrictions in place, I can only see **one form of content suited to be safely posted on Steemit** in terms of “quality control” at this moment: * A link to an embedded YouTube video. Because even though I could never update or delete the link, if the video belongs to me, I could delete the video which would then just leave the dead link. That’s it then. It’s a platform to promote YouTube channels, and to make an alternate earning from loyal fans. I heard Logan Paul could use a little compensation for lack of ad sense revenue. (In the name of Eru, let’s hope this platform never goes mainstream.) # This is really, really basic I think this should be core functionality of any blogging engine / CMS software, no matter the technical backbone. This functionality really, really has to be in place for this platform to be taken seriously. We must be able to have [CRUD](https://en.wikipedia.org/wiki/Create,_read,_update_and_delete), including U + D. While personally, I may understand this as a technical limitation of the blockchain technology, the average user probably will not, hence the great number of [discussions](https://steemit.com/static/search.html?q=steemit+edit) about this topic. I believe we need to get this done for Steemit to go further. # One more wish, please Oh, and while we’re at it, can we please also delete posts? I propose that this doesn’t even have to work on the blockchain, you could just implement it as web frontend layer functionality, like so: * Introduce a **“hide” function**. It will just flag the post for not being shown / not being indexed / findable by the web frontend (not to be confused with the existing “flagging” system). The old post will stay on the blockchain. I haven’t found anything about this on Github. Well, worst case, in the future, there will be the workaround of editing a post, deleting all its content. Apparently, there is currently really no possibility to permanently hide / remove content of the website / blockchain, at least not through the existing “flagging” system (as explained, for instance, [here](https://steemit.com/flag/@guiltyparties/flagging-101)). I kind of have a bad feeling about the legal implications of this for the platform as such. # This is not a rant post Not at all. I am still fascinated both by the Steemit idea and its community. Still, these technical shortcomings make it impossible for me to use the platform at its current state because I could not post the content I wish to post in the quality I intend to post. I may still remain active with comments and upvotes, and I will gladly come back once this technical limitation is lifted.
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      "body": "![new-steemian-struggles.png](https://s5.postimg.org/opcmppdw7/new-steemian-struggles.png)\n\n*How have your first days on Steemit been?*\n\n(This article is based on my own research. I’m not a Steemit official; actually, I’m just a curious Steemit newbie.)\n\nThis is only my second post here on Steemit, and I decided it will be my last one, at least for now, until Steemit allows for **unlimited editing of blog posts**.\n\nJust in case you, as a reader, have missed it:\n\n***After 7 days, a post on Steemit does no longer acquire upvotes, e.g. it is no longer monetized, and also, it cannot any longer be edited or deleted. This is due to technical limitations, namely the underlying blockchain technology, [as explained in the FAQ](https://steemit.com/faq.html#Can_I_delete_something_I_posted). While I’m okay with the monetization limitation (it actually makes sense form an economical perspective as well), I’m not okay with a limited post editing timeframe, as I will explain later.***\n\nThe good news first:\n\n# Apparently, this is in the works\nOn the **[Steem GitHub repository](https://github.com/steemit/steem/)** which is the Steemit blockchain’s source code repository, there’s the closed [issue 1714](https://github.com/steemit/steem/issues/1714) which implies that after it goes live, the ability to **edit Steemit posts indefinitely** will be available.\n\nThe only kinda-official timeframe concerning the planned go-live is *[“soon”](https://github.com/steemit/steem/issues/1714#issuecomment-363530682)*. On GitHub, you can see that this change is part of [a release](https://github.com/steemit/steem/projects/1#card-6147286) which, for the better part, seems done. Since this is a change to the underlying blockchain, I cannot even give an estimate of how long this will take before it is actually “live”. I guess we have to stick with “soon”. Let me know in the comments if you know more.\n\nI really hope this is considered a priority because it is a really, really important feature.\n\n# Why is this so important?\nI could bore you with a discourse about privacy and user data sovereignty, but actually my concerns come mainly from a practical point of view.\n\nWith the current system, it is after 7 days impossible to:\n* **Fix any errors**\n* **Update posts** with new information.\n* Even just **put in a link which points to** a new, updated post.\n* Realize something like **multi-part series** (over the course of more than 7 days) simply because you couldn’t even add a “read the next part here” link.\n* **Remove any content** which I want to or have to have removed from the internet (cf. discussion below).\n\nFor instance, this defeats posts of general knowledge nature because in general, the world and our knowledge about it evolve. Say for instance, I want to write a newbie-guide for crypto. The crypto world evolves fast, and after two weeks, the information may be outdated, maybe even harmful. I could not even make readers aware of this!\n\nSo really, with these restrictions in place, I can only see **one form of content suited to be safely posted on Steemit** in terms of “quality control” at this moment:\n* A link to an embedded YouTube video.\n\nBecause even though I could never update or delete the link, if the video belongs to me, I could delete the video which would then just leave the dead link.\n\nThat’s it then. It’s a platform to promote YouTube channels, and to make an alternate earning from loyal fans. I heard Logan Paul could use a little compensation for lack of ad sense revenue. (In the name of Eru, let’s hope this platform never goes mainstream.)\n\n# This is really, really basic\nI think this should be core functionality of any blogging engine / CMS software, no matter the technical backbone. This functionality really, really has to be in place for this platform to be taken seriously. We must be able to have [CRUD](https://en.wikipedia.org/wiki/Create,_read,_update_and_delete), including U + D.\n\nWhile personally, I may understand this as a technical limitation of the blockchain technology, the average user probably will not, hence the great number of [discussions](https://steemit.com/static/search.html?q=steemit+edit) about this topic. I believe we need to get this done for Steemit to go further.\n\n# One more wish, please\nOh, and while we’re at it, can we please also delete posts? I propose that this doesn’t even have to work on the blockchain, you could just implement it as web frontend layer functionality, like so:\n* Introduce a **“hide” function**. It will just flag the post for not being shown / not being indexed / findable by the web frontend (not to be confused with the existing “flagging” system). The old post will stay on the blockchain.\n\nI haven’t found anything about this on Github. Well, worst case, in the future, there will be the workaround of editing a post, deleting all its content.\n\nApparently, there is currently really no possibility to permanently hide / remove content of the website / blockchain, at least not through the existing “flagging” system (as explained, for instance, [here](https://steemit.com/flag/@guiltyparties/flagging-101)). I kind of have a bad feeling about the legal implications of this for the platform as such.\n\n# This is not a rant post\nNot at all. I am still fascinated both by the Steemit idea and its community. Still, these technical shortcomings make it impossible for me to use the platform at its current state because I could not post the content I wish to post in the quality I intend to post.\n\nI may still remain active with comments and upvotes, and I will gladly come back once this technical limitation is lifted.",
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2018/02/16 16:31:57
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2018/02/16 11:57:33
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2018/02/16 11:55:45
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bodyOh no @freedomno1, look what you've done! Don't worry, little Binance coin, you'll be safe in my wallet.
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2018/02/16 11:54:18
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2018/02/15 22:13:18
authorsteemitboard
bodyCongratulations @cryptobulb! You have completed some achievement on Steemit and have been rewarded with new badge(s) : [![](https://steemitimages.com/70x80/http://steemitboard.com/notifications/votes.png)](http://steemitboard.com/@cryptobulb) Award for the number of upvotes Click on any badge to view your own Board of Honor on SteemitBoard. For more information about SteemitBoard, click [here](https://steemit.com/@steemitboard) If you no longer want to receive notifications, reply to this comment with the word `STOP` > By upvoting this notification, you can help all Steemit users. Learn how [here](https://steemit.com/steemitboard/@steemitboard/http-i-cubeupload-com-7ciqeo-png)!
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2018/02/15 18:31:51
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2018/02/11 21:49:36
authorarchive.xyz
bodyWelcome!
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2018/02/11 21:37:27
authorbycoleman
bodyYour welcome. I use them daily. Many blessing!
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2018/02/11 20:49:18
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2018/02/11 20:34:30
authorcryptobulb
bodyWow, that’s a lot of useful information - thank you so much.
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2018/02/11 20:26:12
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2018/02/11 20:21:45
authorbycoleman
body![](https://steemitimages.com/DQmbGXMwALuD4zZvtnzKLY2SRpjQJZzCYsFn1VLa1iPg4uH/image.png)<br> Welcome to Steemit @cryptobulb!<br><br> I wish you much success and hope you find Steemit to be as rewarding and informative as I have.<br><br> Looks like you love Crpto too! Lots of detailed analysis on my blog along with some [predictions](https://steemit.com/crypto/@bycoleman/bitcoin-rout-is-not-over-heading-to-usd8-000)<br><br> Here are some links you might find useful.<br> [Your stats on SteemNow](https://steemnow.com/@cryptobulb)<br> [Your stats on SteemWorld](https://steemworld.org/@cryptobulb)<br> [Your stats on SteemD](https://steemd.com/@cryptobulb)<br> [How to use Minnow Booster](https://steemit.com/steemit/@bycoleman/a-post-of-much-greater-value-how-to-increase-your-vote-count-dramatically-just-like-the-big-fish-do)<br> [How does Steemit actually work?](https://steemit.com/steemit/@bycoleman/where-does-all-the-money-come-from-on-steemit-fully-answered-will-it-continue-yes)<br><br> Let me know if I can help.<br> Many blessings! @bycoleman<br><br>
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      "body": "![](https://steemitimages.com/DQmbGXMwALuD4zZvtnzKLY2SRpjQJZzCYsFn1VLa1iPg4uH/image.png)<br> Welcome to Steemit @cryptobulb!<br><br>  I wish you much success and hope you find Steemit to be as rewarding and informative as I have.<br><br> Looks like you love Crpto too! Lots of detailed analysis on my blog along with some [predictions](https://steemit.com/crypto/@bycoleman/bitcoin-rout-is-not-over-heading-to-usd8-000)<br><br> Here are some links you might find useful.<br> [Your stats on SteemNow](https://steemnow.com/@cryptobulb)<br> [Your stats on SteemWorld](https://steemworld.org/@cryptobulb)<br> [Your stats on SteemD](https://steemd.com/@cryptobulb)<br> [How to use Minnow Booster](https://steemit.com/steemit/@bycoleman/a-post-of-much-greater-value-how-to-increase-your-vote-count-dramatically-just-like-the-big-fish-do)<br> [How does Steemit actually work?](https://steemit.com/steemit/@bycoleman/where-does-all-the-money-come-from-on-steemit-fully-answered-will-it-continue-yes)<br><br> Let me know if I can help.<br> Many blessings! @bycoleman<br><br> ",
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2018/02/11 20:13:18
authorcryptobulb
bodyThank you. It looks like a nice & friendly place :-)
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      "body": "Thank you. It looks like a nice & friendly place :-)",
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2018/02/11 20:13:00
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2018/02/11 19:53:15
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2018/02/11 19:53:15
authorlopezdacruz
bodywelcome to steemit comunity i hope you enjoy here :-)
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2018/02/11 19:53:06
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2018/02/11 19:51:45
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2018/02/11 19:51:33
authorcryptobulb
bodyThank you. I’ve just used your comment for a test-upvote :-) Have a nice day.
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2018/02/11 19:50:06
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2018/02/11 19:45:30
authorcryptobulb
bodyReally, really good to have this “whitelist”. It feels kind of reassuring to find all my favorite crypto YouTubers on that list. But you should really have made a “29 + 1” list and put yourself on it, David, just so that really *all* great crypto YouTubers are on it.
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2018/02/11 19:38:42
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2018/02/11 19:31:33
authorbidyut
bodyWelcome to Steemit! Looking forward to your updates around here:)
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2018/02/11 19:30:12
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2018/02/11 19:29:57
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Posting
Single Signature
Public Keys
STM7hc2uhAXMKzEPE7DXBs4rPiZY3FadBrZ3Q5BAnQWur9CRnvxEc1/1
Memo
STM6CwoyeZ1XtcQKSkmyW3Sg4TmNKkHi4shGdiYyYWrKm5uATtHUh
{
  "owner": {
    "account_auths": [],
    "key_auths": [
      [
        "STM5kau9J86LLtfy1cHa1RfGcfmtm1QDRXhGTudaHxjngKXrWq4dG",
        1
      ]
    ],
    "weight_threshold": 1
  },
  "active": {
    "account_auths": [],
    "key_auths": [
      [
        "STM583PwE5bEjj1B9YBj7HjTj7UiyikBSpmxY29XtRJMu3gKCio5W",
        1
      ]
    ],
    "weight_threshold": 1
  },
  "posting": {
    "account_auths": [],
    "key_auths": [
      [
        "STM7hc2uhAXMKzEPE7DXBs4rPiZY3FadBrZ3Q5BAnQWur9CRnvxEc",
        1
      ]
    ],
    "weight_threshold": 1
  },
  "memo": "STM6CwoyeZ1XtcQKSkmyW3Sg4TmNKkHi4shGdiYyYWrKm5uATtHUh"
}

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