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      "body": "On the morning of yesterday there was a protest of users on the LocalBitcoins platform, not precisely because of the terms of use of the platform or any other related issue.\n\nIn the Venezuelan market, merchants placed messages alluding to their dissatisfaction in bitcoin sales announcements, requiring the same community of traders to increase BTC prices until they reached the global equivalent in bolivars, the local currency.\n\nThus, some argued that the real price was 22 billion bolivars per unit and that those who sold below this average were \"giving away\" the bitcoins. 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As we know, words are adopting new meanings with the passage of history. Currently, speculation refers to theorizing or supposing an event without certainty. But what is not usually accepted is the fact that humans speculate more frequently than is believed.\n\nAn example, applied to the field of economy or consumption would be, at the time of shopping, ask how much tomato, cheese, bacon and flour would need to make a pizza at home. At the financial level, there is also speculation about the data that would make a more profitable and quick return investment, or about the factors that would allow a borrower to pay on time or not, which would undoubtedly determine the most basic decisions and elementary to favor the fulfillment of an objective.\n\nBut also, and extremely important, we find the fact that the real value of a product is an abstraction, a relative and subjective factor. To solve this inconsistency, the seller and the buyer speculate, analyze what the benefits of their exchange should be based on their financial, budgetary, and accounting conditions, and making the relationship between the price from which the seller can not lower and the price that the buyer can not exceed, we have the price of a product.\n\nIn the case of professional investors, speculators by nature, and those who tend to take the habit of governments and consumers alike, they base their work on buying or acquiring an asset when its price is cheaper, as long as they have the expectation of that its price will increase in a certain period of time and at that moment, when it is speculated that it can not increase more, sell. They are direct contributors to the dynamics of prices and values, but allow investors of other assets to make equivalences and calculations in different parts of the world and in this way, the prices of products are much more justified between geographical or structurally distant places. .\n\nAs financial markets facilitate the exchange of values, cryptocurrencies have come to facilitate the exchange of values, goods and services in a more accessible, generalized, massive, democratic way, because they are easily accessible. You do not have to be a professional investor, get to buy the bonds of the debt of a failed state or have connections in the companies that provide privileged information to predict the market, but anyone with an internet connection can perform transactions processed and registered in a blockchain (it gets better) for the amount that suits you. That is, if we want to make a small payment of 2 dollars, this transaction can be done without inconvenience and without having to pay high commissions, in many cases, to a third party to approve it. And there is still a short distance to reach the full functionality of Lightning Network in Bitcoin, a protocol that will allow payments of just pennies very quickly.\n\nFor that reason, due to the current state of the economy in Venezuela, which represents difficulties for citizens facing an inflationary scenario, regulations for the acquisition and exchange of foreign currencies such as the dollar and the euro, Venezuelans trade weekly on average more than 500 BTC, according to CoinDance, a huge sum compared to other countries in the region such as Colombia and Argentina, the latter a country where its inhabitants also seek to protect their capital by trading with bitcoins.\n\nFinally, it is worth mentioning that although cryptocurrencies and blockchain technology seem to have the potential to completely displace institutions and financial entities of all types in the coming years, this is far from the absolute truth, since regulators Traditional institutions can also be participants and help enormously not only to their adoption, but also to their correct implementation.",
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      "body": "Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:\nhttps://steemit.com/bitcoin/@briseth/4prdr5-celebrate-cryptocurrency-application-contest-byteball-in-venezuelan-university",
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      "body": "#\n# upvote for me please? https://steemit.com/news/@bible.com/2sysip\n#",
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      "body": "The Simón Bolívar University (USB), a well-known Venezuelan educational institution, is holding the International Use-A-Thon competition of the Byteball cryptocurrency platform, which began on May 25 and brings together groups of students dedicated to presenting solutions. technological and financial issues to your locality.\n\nByteball is an initiative from Moscow, Russia, which is dedicated to providing the cryptocurrency market with faster and more reliable payments through smart contracts. In this sense, the platform provides its users with a \"greater control\" of money, providing a market protected by robots, smart wallets, non-scratchable coins and payment mechanisms with encrypted chats.\n\nThe platform is a project that has been under development for more than a year, and thanks to the launch of its most recent usability contest, entitled Use-A-Thon, a way to differentiate the purpose of the convention from the well-known hackathons, has been mouth of very diverse academic institutions worldwide. The challenge is to detect a problem in the closed society of the university, which must be solved with the platform's tools to opt for a prize in cryptocurrencies that will be distributed among the top 3 teams.\n\nTo learn about the details of this initiative, CriptoNoticias contacted directly with the Board of Directors of the Federation of Student Centers of the USB (FCEUSB), who told us the details of the contest, the bases of participation, its objectives and expectations to future.\n\nA SOLUTION FOR THE COMMUNITY\nThe FCEUSB commented that the Simón Bolívar University closed a group of agreements with the board of directors of Byteball through one of its students working with the creators of the platform, an action that motivated the realization of the contest in the facilities.\n\nFrom the 14th to the 25th of May, the coordinators of the event at the USB-represented by the Student Center Federation and Professor Carlos Castañeda from the Department of Social Sciences- received the teams made up of 2 to 3 students from the community, who they had to register on the Byteball platform with a view to presenting a solution project for one of the problems in the USBve network. The deadline to submit the projects is June 24, 2018.\n\nThe purpose of the contest is to develop the uses of the GBYTE cryptomeoenda within the university community, which can then be applied in the Byteball test network. The projects must be delivered to the board of Byteball -represented by Casper Niebe- to be judged by a qualified jury and, in case of being among the 3 winning positions, licensed by the company.\n\nThe initiative offers a prize of approximately $ 500 at present in Bytebal Bytes format (GBYTE) -although the invitation to the contest reviews an approximate $ 800 due to the value of the cryptocurrency in the middle of last month-, which will be distributed among the 3 first places. In this sense, the first place will take 2 GBYTE, while the second and third place will be awarded with 1 GBYTE and 0.5 GBYTE respectively. Each GBYTE has a value of 0, 018676 BTC, that is, 140 dollars in the crypto market at the time of writing this note.\n\nThe students have had to register in the platform, an entity that has given them about 10 dollars in GBYTE so that they can perform expenses and transactions within the network. Likewise, they have been exposed to the constant help of the Byteball group, who abilitaron a channel in Slack, to answer all questions about the operation of the platform, even holding talks in the Alma Mater.",
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