{
  "trx_id": "45132d4a3f780ce548a034575111b046502e3387",
  "block": 106149752,
  "trx_in_block": 0,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2026-05-18T05:31:51",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "rauderce",
      "vesting_shares": "7090.703026 VESTS"
    }
  ]
}

{
  "trx_id": "fb2dbed7aee7b76a0a0ee10a0d9343ecc8566c75",
  "block": 106001398,
  "trx_in_block": 1,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2026-05-13T01:17:39",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "rauderce",
      "vesting_shares": "4378.492621 VESTS"
    }
  ]
}

{
  "trx_id": "424de177e2dd550ef9c9eb6705a552ab9c257dc1",
  "block": 105517260,
  "trx_in_block": 4,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2026-04-26T04:44:45",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "rauderce",
      "vesting_shares": "7103.218782 VESTS"
    }
  ]
}

{
  "trx_id": "e507061baa9923c8113aaa0008c4586516a1e9d0",
  "block": 102868828,
  "trx_in_block": 1,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2026-01-23T22:00:18",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "rauderce",
      "vesting_shares": "4420.039440 VESTS"
    }
  ]
}

{
  "trx_id": "ab4b130fd24d61e7a2551ed84009bdf8b380fc20",
  "block": 91315053,
  "trx_in_block": 5,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2024-12-17T17:10:54",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "rauderce",
      "vesting_shares": "4584.258637 VESTS"
    }
  ]
}

{
  "trx_id": "621c9d3b8f3b8f18753f6610567d4df79bdea597",
  "block": 79869214,
  "trx_in_block": 4,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2023-11-14T08:52:39",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "rauderce",
      "vesting_shares": "4753.392169 VESTS"
    }
  ]
}

{
  "trx_id": "ea821afba11087e1d7f0ce7bbbf3d4ce191aeef5",
  "block": 78361797,
  "trx_in_block": 0,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2023-09-22T09:29:57",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "rauderce",
      "vesting_shares": "7690.300955 VESTS"
    }
  ]
}

{
  "trx_id": "ffa8f98a1e4c93b251859f37581c2b69a0ff24d0",
  "block": 69119669,
  "trx_in_block": 3,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2022-11-03T17:04:12",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "rauderce",
      "vesting_shares": "7912.352393 VESTS"
    }
  ]
}

{
  "trx_id": "559ca923ffcbfba4ae03521c14a4c98740431714",
  "block": 60823008,
  "trx_in_block": 9,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2022-01-17T22:20:39",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "rauderce",
      "vesting_shares": "8132.459994 VESTS"
    }
  ]
}

{
  "trx_id": "9b1b330a16b89a3bfb26c6b25b8175f1e25cf7c8",
  "block": 54613376,
  "trx_in_block": 5,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2021-06-14T05:33:33",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "rauderce",
      "vesting_shares": "8316.654282 VESTS"
    }
  ]
}

{
  "trx_id": "fc690bda0cd5ad2bdd582a8e0e829b1f02ad5f85",
  "block": 49360660,
  "trx_in_block": 3,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2020-12-11T15:46:24",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "rauderce",
      "vesting_shares": "8504.076256 VESTS"
    }
  ]
}

{
  "trx_id": "3034fbd7918f5f151ade6a721900b585bc0c30b4",
  "block": 49212190,
  "trx_in_block": 0,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2020-12-06T09:22:27",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "rauderce",
      "vesting_shares": "1912.543513 VESTS"
    }
  ]
}

{
  "trx_id": "489026377bd1502050302ebee954798797016412",
  "block": 49195747,
  "trx_in_block": 1,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2020-12-05T19:24:24",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "rauderce",
      "vesting_shares": "8510.284110 VESTS"
    }
  ]
}

{
  "trx_id": "f0c8c0d626b1e75a0f02b189776d7ca9d84a075b",
  "block": 48269123,
  "trx_in_block": 0,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2020-11-03T01:15:09",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "rauderce",
      "vesting_shares": "1920.017158 VESTS"
    }
  ]
}

{
  "trx_id": "f649ee5f681e326428494cff321c44e401b10437",
  "block": 43222507,
  "trx_in_block": 12,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2020-05-09T10:24:45",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "rauderce",
      "vesting_shares": "8713.089469 VESTS"
    }
  ]
}

{
  "trx_id": "ee8ea877eaaafb24c04d9700f775cd63e00d335e",
  "block": 43199430,
  "trx_in_block": 9,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2020-05-08T14:42:48",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "rauderce",
      "vesting_shares": "1953.311140 VESTS"
    }
  ]
}

{
  "trx_id": "6335983b6033dfbe3ca522c54d7f58a6993176f7",
  "block": 35474165,
  "trx_in_block": 16,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2019-08-12T01:21:45",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "rauderce",
      "vesting_shares": "8867.817711 VESTS"
    }
  ]
}

{
  "trx_id": "91d2234b3fec7954fcc21279004c3294b24c536d",
  "block": 34304967,
  "trx_in_block": 7,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2019-07-02T08:32:39",
  "op": [
    "comment",
    {
      "parent_author": "rauderce",
      "parent_permlink": "fintech-without-blockchain",
      "author": "steemitboard",
      "permlink": "steemitboard-notify-rauderce-20190702t083239000z",
      "title": "",
      "body": "Congratulations @rauderce! You received a personal award!\n\n<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@rauderce/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/@rauderce) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=rauderce)_</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\"]}"
    }
  ]
}

{
  "trx_id": "bc8d22ec78d30a937ff8fc9b8125f342be30106c",
  "block": 25436195,
  "trx_in_block": 42,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-08-27T13:51:06",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "rauderce",
      "vesting_shares": "9066.288399 VESTS"
    }
  ]
}

{
  "trx_id": "dc2491fbe83f59ed1b092c49682c26b0f13d8141",
  "block": 23826522,
  "trx_in_block": 26,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-07-02T07:15:18",
  "op": [
    "comment",
    {
      "parent_author": "rauderce",
      "parent_permlink": "fintech-without-blockchain",
      "author": "steemitboard",
      "permlink": "steemitboard-notify-rauderce-20180702t071520000z",
      "title": "",
      "body": "Congratulations @rauderce! You have received a personal award!\n\n[![](https://steemitimages.com/70x70/http://steemitboard.com/@rauderce/birthday1.png)](http://steemitboard.com/@rauderce)  1 Year on Steemit\n<sub>_Click on the badge to view your Board of Honor._</sub>\n\n\n**Do not miss the last post from @steemitboard:**\n[SteemitBoard World Cup Contest - Belgium vs Japan](https://steemit.com/steemitboard/@steemitboard/steemitboard-world-cup-contest-belgium-vs-japan)\n\n---\n**Participate in the [SteemitBoard World Cup Contest](https://steemit.com/steemitboard/@steemitboard/steemitboard-world-cup-contest-collect-badges-and-win-free-sbd)!**\nCollect World Cup badges and win free SBD\nSupport the Gold Sponsors of the contest: [@good-karma](https://v2.steemconnect.com/sign/account-witness-vote?witness=good-karma&approve=1) and [@lukestokes](https://v2.steemconnect.com/sign/account-witness-vote?witness=lukestokes.mhth&approve=1)\n\n---\n\n> Do you like [SteemitBoard's project](https://steemit.com/@steemitboard)? Then **[Vote for its witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1)** and **get one more award**!",
      "json_metadata": "{\"image\":[\"https://steemitboard.com/img/notify.png\"]}"
    }
  ]
}

{
  "trx_id": "2e1fed16610c9aaf7c37c671c1f5fd52d74bacbe",
  "block": 22839131,
  "trx_in_block": 11,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-05-28T23:43:06",
  "op": [
    "vote",
    {
      "voter": "justfourus",
      "author": "rauderce",
      "permlink": "re-methoncrypto-verge-gets-51-attacked-so-hard-that-they-steal-shield-s-code-and-lie-about-it-20180528t112932007z",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "23eb8f2dfc9db86540ec593dd0e844f549d86e47",
  "block": 22828788,
  "trx_in_block": 20,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-05-28T15:05:51",
  "op": [
    "vote",
    {
      "voter": "methoncrypto",
      "author": "rauderce",
      "permlink": "re-methoncrypto-verge-gets-51-attacked-so-hard-that-they-steal-shield-s-code-and-lie-about-it-20180528t112932007z",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "fcc1fbaf9a169bc1563f0690f7cca88b54ce2b51",
  "block": 22824477,
  "trx_in_block": 2,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-05-28T11:30:18",
  "op": [
    "comment",
    {
      "parent_author": "methoncrypto",
      "parent_permlink": "verge-gets-51-attacked-so-hard-that-they-steal-shield-s-code-and-lie-about-it",
      "author": "rauderce",
      "permlink": "re-methoncrypto-verge-gets-51-attacked-so-hard-that-they-steal-shield-s-code-and-lie-about-it-20180528t112932007z",
      "title": "",
      "body": "some coins are just toxic",
      "json_metadata": "{\"tags\":[\"cryptocurrency\"],\"app\":\"steemit/0.1\"}"
    }
  ]
}

{
  "trx_id": "456e87856af4ba4bbda0d775f13d2965f23eaaee",
  "block": 22824471,
  "trx_in_block": 31,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-05-28T11:30:00",
  "op": [
    "vote",
    {
      "voter": "rauderce",
      "author": "methoncrypto",
      "permlink": "verge-gets-51-attacked-so-hard-that-they-steal-shield-s-code-and-lie-about-it",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "094e79bb2074a807a221c653555ad67ba487953b",
  "block": 22768736,
  "trx_in_block": 24,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-05-26T13:02:45",
  "op": [
    "vote",
    {
      "voter": "rauderce",
      "author": "sandwich",
      "permlink": "re-malexanders-how-to-register-eos-tokens-easily-20180108t092114299z",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "165c1097b733abff1a486cd2b283bd2c601207b1",
  "block": 22172295,
  "trx_in_block": 6,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-05-05T19:37:09",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "rauderce",
      "vesting_shares": "29487.119991 VESTS"
    }
  ]
}

{
  "trx_id": "0000000000000000000000000000000000000000",
  "block": 21964289,
  "trx_in_block": 4294967295,
  "op_in_trx": 0,
  "virtual_op": 4,
  "timestamp": "2018-04-28T14:14:03",
  "op": [
    "curation_reward",
    {
      "curator": "rauderce",
      "reward": "14.257468 VESTS",
      "comment_author": "l-s-h",
      "comment_permlink": "re-bonghans-re-l-s-h-elastos-1-20180421t141339952z"
    }
  ]
}

{
  "trx_id": "e97374b99798e223127a33c6fc5d0109ea198c5b",
  "block": 21906356,
  "trx_in_block": 23,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-04-26T13:56:21",
  "op": [
    "vote",
    {
      "voter": "rauderce",
      "author": "koyn",
      "permlink": "minimizing-the-cost-of-gas-when-claiming-eos-using-myetherwallet",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "9011515945ae34509c31347c69905292e07bf15f",
  "block": 21807586,
  "trx_in_block": 60,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-04-23T03:05:12",
  "op": [
    "vote",
    {
      "voter": "rauderce",
      "author": "l-s-h",
      "permlink": "re-bonghans-re-l-s-h-elastos-1-20180421t141339952z",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "42c5b924701987b2239db17777a7db105630b42d",
  "block": 21807585,
  "trx_in_block": 16,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-04-23T03:05:09",
  "op": [
    "vote",
    {
      "voter": "rauderce",
      "author": "l-s-h",
      "permlink": "elastos-1",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "28cef2dd74abe0223fa0d6bf2be87aee9a4f6199",
  "block": 21442217,
  "trx_in_block": 26,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-04-10T10:33:42",
  "op": [
    "vote",
    {
      "voter": "ppjose2001",
      "author": "rauderce",
      "permlink": "re-jrcornel-is-a-solar-powered-mining-rig-the-wave-of-the-future-20170711t050554614z",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "3204055591a821d6cff5e5c688535a58b2e9698c",
  "block": 20465829,
  "trx_in_block": 45,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-03-07T11:47:36",
  "op": [
    "claim_reward_balance",
    {
      "account": "rauderce",
      "reward_steem": "0.000 STEEM",
      "reward_sbd": "0.009 SBD",
      "reward_vests": "18.603917 VESTS"
    }
  ]
}

{
  "trx_id": "e0d537c19e7cea39f81922aeb38bb385dd695cda",
  "block": 20465815,
  "trx_in_block": 25,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-03-07T11:46:54",
  "op": [
    "comment",
    {
      "parent_author": "eosphere",
      "parent_permlink": "presenting-eosphere-as-a-founding-eos-block-producer-candidate",
      "author": "rauderce",
      "permlink": "re-eosphere-presenting-eosphere-as-a-founding-eos-block-producer-candidate-20180307t114652848z",
      "title": "",
      "body": "great! Looking forward to having you guys help build/shape up the eos scene.",
      "json_metadata": "{\"tags\":[\"eos\"],\"app\":\"steemit/0.1\"}"
    }
  ]
}

{
  "trx_id": "f6fce12bbeb6c5d528edb979d51819ef138ca18d",
  "block": 20424551,
  "trx_in_block": 30,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-03-06T01:19:12",
  "op": [
    "vote",
    {
      "voter": "rauderce",
      "author": "xiaojin",
      "permlink": "elastos-votes-on-the-exchange-announcement-of-binancet",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "e126a8bd024f4247ef0c331c73b383a04af61be2",
  "block": 20307768,
  "trx_in_block": 14,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-03-01T23:58:27",
  "op": [
    "vote",
    {
      "voter": "rauderce",
      "author": "n3r0",
      "permlink": "re-eosio-block-one-and-mike-novogratz-s-galaxy-digital-announce-joint-venture-for-new-usd325-million-eos-io-fund-20180123t164933092z",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "43464d8256a2e6b554babbd33259854c90645170",
  "block": 19694844,
  "trx_in_block": 28,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-02-08T16:47:30",
  "op": [
    "vote",
    {
      "voter": "rauderce",
      "author": "elastos",
      "permlink": "what-is-elastos",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "ec80af8c77811843d49f4ea254aac13d08b9a56c",
  "block": 19659747,
  "trx_in_block": 23,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-02-07T11:21:48",
  "op": [
    "vote",
    {
      "voter": "rauderce",
      "author": "giil",
      "permlink": "banca-wall-street-on-blockchain",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "166ea006175d444939b5b1cc48d73dc6e18b19e3",
  "block": 19659492,
  "trx_in_block": 2,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-02-07T11:08:57",
  "op": [
    "vote",
    {
      "voter": "rauderce",
      "author": "aantonop",
      "permlink": "the-real-aantonop",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "a845d6d387be48641f878c5d9890ec6a19f1aad5",
  "block": 19341614,
  "trx_in_block": 2,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-01-27T09:56:45",
  "op": [
    "vote",
    {
      "voter": "rauderce",
      "author": "ausbitbank",
      "permlink": "re-flypme-flyp-me-first-payout-instruction-20180125t022934680z",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "3a81de3fba169f372c3c9bae8d9a1ca5b71743c4",
  "block": 19330026,
  "trx_in_block": 142,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-01-27T00:16:54",
  "op": [
    "vote",
    {
      "voter": "rauderce",
      "author": "goldseek",
      "permlink": "re-hilarski-re-goldseek-beware-of-monkey-capital-and-its-monkey-daniel-harrison-20170813t125458751z",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "43aa56df2566baa2b87b30185cf28c61d62cac1b",
  "block": 19330026,
  "trx_in_block": 74,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-01-27T00:16:54",
  "op": [
    "vote",
    {
      "voter": "rauderce",
      "author": "hilarski",
      "permlink": "re-goldseek-beware-of-monkey-capital-and-its-monkey-daniel-harrison-20170813t124401238z",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "b3d0bb71feaf5bfa1fe429867f6884fd24dfb042",
  "block": 19330008,
  "trx_in_block": 50,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-01-27T00:16:00",
  "op": [
    "vote",
    {
      "voter": "rauderce",
      "author": "goldseek",
      "permlink": "beware-of-monkey-capital-and-its-monkey-daniel-harrison",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "c6570bd48a38439512bd12670fcdfc939c7bfed9",
  "block": 19261848,
  "trx_in_block": 5,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-01-24T15:26:00",
  "op": [
    "comment",
    {
      "parent_author": "xiaojin",
      "parent_permlink": "the-most-in-depth-analysis-in-the-elastos-history-of-the-2018-coinage",
      "author": "rauderce",
      "permlink": "re-xiaojin-the-most-in-depth-analysis-in-the-elastos-history-of-the-2018-coinage-20180124t152557802z",
      "title": "",
      "body": "well written! Thanks for the detailed analysis",
      "json_metadata": "{\"tags\":[\"elastos\"],\"app\":\"steemit/0.1\"}"
    }
  ]
}

{
  "trx_id": "66903f0a52e8b81368024550e738dfdf0c5b7e2e",
  "block": 19261843,
  "trx_in_block": 62,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-01-24T15:25:45",
  "op": [
    "vote",
    {
      "voter": "rauderce",
      "author": "xiaojin",
      "permlink": "the-most-in-depth-analysis-in-the-elastos-history-of-the-2018-coinage",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "4b4ad25cfae2e5495e30282523ca9d28c2dc1954",
  "block": 19261785,
  "trx_in_block": 44,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-01-24T15:22:51",
  "op": [
    "vote",
    {
      "voter": "rauderce",
      "author": "joncorreia",
      "permlink": "re-o1o1o1o-re-johnny00-re-o1o1o1o-ethorse-ico-a-review-20180112t154113797z",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "8a5b641fe3d9d077008fe1ca6d31f1293589fc5c",
  "block": 19261785,
  "trx_in_block": 9,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-01-24T15:22:51",
  "op": [
    "vote",
    {
      "voter": "rauderce",
      "author": "o1o1o1o",
      "permlink": "re-johnny00-re-o1o1o1o-ethorse-ico-a-review-20180112t090712109z",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "1d4812cf638ceb9892692883d4ab36ef64b32a45",
  "block": 19261782,
  "trx_in_block": 31,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-01-24T15:22:42",
  "op": [
    "vote",
    {
      "voter": "rauderce",
      "author": "johnny00",
      "permlink": "re-o1o1o1o-ethorse-ico-a-review-20180107t111427879z",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "013d2f47e8ef6a6348e47d8e4ff3a059750b5037",
  "block": 19261781,
  "trx_in_block": 51,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-01-24T15:22:39",
  "op": [
    "vote",
    {
      "voter": "rauderce",
      "author": "o1o1o1o",
      "permlink": "ethorse-ico-a-review",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "b7973fcc21cf5eb44b4e3b0137cf6bfcd902b79c",
  "block": 19119150,
  "trx_in_block": 12,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-01-19T16:27:30",
  "op": [
    "vote",
    {
      "voter": "rauderce",
      "author": "haejin",
      "permlink": "cloak-coin-cloak-btc-could-rise",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "8005184e33e1a44e09e57c6b725a0daaaec40c79",
  "block": 18819891,
  "trx_in_block": 30,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-01-09T06:54:45",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "rauderce",
      "vesting_shares": "29690.819153 VESTS"
    }
  ]
}

{
  "trx_id": "9ca4ba7dea6423763d705acea6408eaef03127f2",
  "block": 18782586,
  "trx_in_block": 38,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-01-07T23:46:09",
  "op": [
    "comment",
    {
      "parent_author": "rauderce",
      "parent_permlink": "re-d1492-you-won-t-believe-how-much-my-crypto-portfolio-is-up-and-why-it-s-a-problem-20180107t173624701z",
      "author": "d1492",
      "permlink": "re-rauderce-re-d1492-you-won-t-believe-how-much-my-crypto-portfolio-is-up-and-why-it-s-a-problem-20180107t234543937z",
      "title": "",
      "body": "Thank you.",
      "json_metadata": "{\"tags\":[\"bitcoin\"],\"app\":\"steemit/0.1\"}"
    }
  ]
}

{
  "trx_id": "b22b089f3422acb8fb40b2d937cdb1c41e6fcc01",
  "block": 18775196,
  "trx_in_block": 14,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-01-07T17:36:27",
  "op": [
    "comment",
    {
      "parent_author": "d1492",
      "parent_permlink": "you-won-t-believe-how-much-my-crypto-portfolio-is-up-and-why-it-s-a-problem",
      "author": "rauderce",
      "permlink": "re-d1492-you-won-t-believe-how-much-my-crypto-portfolio-is-up-and-why-it-s-a-problem-20180107t173624701z",
      "title": "",
      "body": "awesome article! Keep them coming",
      "json_metadata": "{\"tags\":[\"bitcoin\"],\"app\":\"steemit/0.1\"}"
    }
  ]
}

{
  "trx_id": "81ea4834c8646d6f015f6cbd09b07230246c1bda",
  "block": 18775188,
  "trx_in_block": 28,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-01-07T17:36:03",
  "op": [
    "vote",
    {
      "voter": "rauderce",
      "author": "d1492",
      "permlink": "you-won-t-believe-how-much-my-crypto-portfolio-is-up-and-why-it-s-a-problem",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "5f783513c89debabcb0e720a8aa0997ed9713ccd",
  "block": 18170360,
  "trx_in_block": 48,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2017-12-17T17:10:51",
  "op": [
    "comment",
    {
      "parent_author": "rauderce",
      "parent_permlink": "crypto-macroeconomic-perspectives",
      "author": "resteembot",
      "permlink": "re-rauderce-crypto-macroeconomic-perspectives-20171217t171050307z",
      "title": "",
      "body": "Resteemed by @resteembot! Good Luck!\nThe resteem was payed by @greetbot\nCurious?\nThe @resteembot's [introduction post](https://steemit.com/resteembot/@resteembot/how-to-use-resteembot-updated-2017824t202525149z)\nGet more from @resteembot with the #resteembotsentme initiative\nCheck out the great posts I already resteemed.",
      "json_metadata": ""
    }
  ]
}

{
  "trx_id": "f92d88f041db15c0947e63ec177e1d06acaca358",
  "block": 18132025,
  "trx_in_block": 27,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2017-12-16T09:13:45",
  "op": [
    "comment",
    {
      "parent_author": "",
      "parent_permlink": "cryptoeconomics",
      "author": "rauderce",
      "permlink": "fintech-without-blockchain",
      "title": "FinTech without Blockchain",
      "body": "FinTech before Blockchain\n\nFinTech without Blockchain.  The financial technology [FinTech] of today hovers around three major disruptive innovations, they are high frequency and systematic trading, machine learning, and blockchain. Of the three, high-frequency trading [HFT] although “new” can be considered the most explored. In High-Frequency Trading, Budish, Cramton, & Shim (2015) shared that high-frequency trading helps to provide two benefits. Firstly, increased liquidity due to the rapidity of trades processed by computers, traders and clearing processes, are both automated by algorithms. The authors further shared that the effects of HFT probably help contribute to the decreases in bid-ask spreads from 1.46 percent in 1980 to 0.11 percent in 2006. Most remarkably the authors introduced the concept of discrete-time trading for which all orders received are traded upon in batches of 100 milliseconds, which would, in fact, be more “fair” for orders that were received in that time tier. They opined that HFT in the markets today allows for “mechanical” arbitrage opportunities within those split seconds. The existence of this specific issue [mechanical arbitrage opportunity] actually drains instead of help provide liquidity to the markets (Budish, Cramton, & Shim, 2015). This is in contrary to what most would believe, in the traditional sense many individuals believe that the greater the velocity of trade the more liquid markets would be. However, the authors noted that arbitrage rent obtained from the inefficiencies of different players in the HFT field removes liquidity from the system. Firms such as Renaissance Technologies [RenTech] have benefitted and built a long-standing reputation based on HFT and systematic algorithms designed to benefit from existing financial frameworks. Known as “black box” trading the firm prides itself on knowing all risks involved when entering into the trade, as such they have an exit strategy for every trade.\n\nIf greater velocities/speed cannot provide more liquidity and in proxy stability to markets, what can? This brings the second application to our attention, machine learning [ML] of artificial intelligence [AI] application. Machine learning came out of the exploration of having machines learn from data. Previously a subsection of AI, ML has broken away from AI as the latter was headed toward expert knowledge replication and ML was headed towards the use of more statistics in general (Langley, 2011). At its core, machine learning is fundamentally based off ordinary least squares [OLS] and regression, the field attempts to have an artificial intelligence be able to make predictions of the future given large tranches of data.\n\nClustering allows users to draw empirical results and graphically display data. Most used within mathematical finance through variance-covariance matrices, it is noted that the noise within such applications are retained and the use of machine learning algorithms to develop predictive analysis models. In hierarchical clustering, data takes the form of a tree for which each data point has a single object.\n\nThe frontier of ML resides with Deep Learning also known as deep structured learning, it can be supervised or unsupervised. Deep learning utilizes tremendously large data sets which are not categorized and tries to identify systems from this exact data set. Deep learning systems are different as they contain more layers for which input/output are differentiated from each other. Layers can be hidden and nonlinear, results of ML can also not be fed back to the system. Known flaws of deep learning utilizing neutral networks, using too few neurons in the hidden layer will result in underfitting whereas too many neurons can result in overfitting. This occurs when there are too many neurons within the hidden layer, this results in a lack of data to train all existing neurons (Heaton, 2008). Although highly successful in certain fields such as speech recognition and drug design, deep learning has been remarkedly absent in finance and markets in general. Its greatest flaw is that the field lacks theories to back it up.\n\nI’ll leave the rest of ML / AI to the true experts! Let’s move on\n\n\n\n\n\nTaking the World by Storm\n\nA fine example was the match between Lee Sedol and Google’s DeepMind algorithm named “AlphaGo” which took place between 9 – 15 March 2016. Lee Sedol, a South Korean grandmaster of the strategy board game of GO lost to Google’s DeepMind AlphaGo 1 to 4. Many were surprised at the success of AlphaGo, but a little-known fact was that AlphaGo needed a huge amount of computing power in order to match Lee. The researchers of AlphaGo revealed that they used 25 times the normal computing power of a retail desktop, this amounts to 25 GPUs and 25 computing power (Silver et al., 2016).\n\nCorrespondingly, Elon Musk founded OpenAI in 2015 in order to advance and share progress on AI with individuals. Elon Musk’s OpenAI developed a gaming bot named “Dendi” which was specially designed to participate in the game known as DOTA 2 [Defense of The Ancients 2], the permutations and options of this game are comparable to a game of GO. “Dendi” can be considered a supervised machine system for which the developers provided preferred inputs and outputs such as (i) do not die (ii) do not lose health (iii) do not lose the game. Dendi challenged and successfully beat the top 1 versus 1 player in the world and the top overall player in the world in the Dota 2 “The International” World championships which concluded on August 2017. “Dendi” remains undefeated today.\n\nThe players which were selected to match up with Dendi shared that they observed Dendi continually used the same tactics even though it had been killed while doing so. Dendi learned from past lessons and optimized its performance rather than change behaviors drastically (Mashable, 2017). This is in stark contrast to what investors’ and through generalization humans would do, decisions can be changed but perimeters cannot. An example would be that humans tend to be All or Nothing [1 or 0] in terms of learning, a human either learns [1] or fails to learn [0]. While Dendi’s ML capability too has 1 or 0, its ML system provides many options such as [1 or 0.99 or 0.98 … or 0.01] and so on. Dendi is able to internalize the mistakes committed and always remember the mistake through learning.\n\nIn financial markets terms, 1 or 0 can be seen as investing in the introduction of Unit Trusts/Exchange Traded Funds. The introduction of ETFs allows for redistribution of risks such that it is nearly zero, this, however, is still different from the use and employ of black box ML for which actors believe that markets are inefficient. Without delving into the specificities, ML algorithms provide a platform for which investors and managers of such algorithms can be allocated more certainty against other human actors. This is the fundamental reason for the rise of Machine Learning in general, less the prediction function of ML. ML provides a certain level of certainty back by data. It can be erroneous however it is better than some human plucking thoughts out of the air.\n\nAntifragility Proposition\n\nNassim Nicholas Taleb proposes that systems and frameworks should be resilient in face of challenges. In his book Antifragile, Taleb advocates the adoption of Hydra which is the Greek ancient representation of antifragility. In other words, even if one is surrounded by chaos or pain, it or he/she thrives and in fact gain from that experience. Like the Hydra, when one head is chopped off, two rises up to the challenge. It would not be a stretch to name “Dendi” and Learning systems which are so optimized like it a hydra.\n\nIn addition to advocating for antifragility, Taleb shared the concept of the Phoenix, for which it is robust in face of challenges. The next FinTech alternative attempts to address this problem, and remain robust in face of challenges and attacks. Blockchain attempts to completely strip the need for trust out of the system.\n\nBlockchain Technology\ncan be explained as a decentralized network with a memory (Buterin, 2017). The blockchain of today is simply the combined of several existing technologies that were available in 2008. At its core, blockchain has its roots in cryptography and in a research originally proposed by Dwor and Noar in 1992. Adopted by Adam Back in 1997 as Hashcash, Hashcash was invented to protect e-mail inboxes from spammers using a small amount of CPU power to produce a certain “hash stamp.” The act of using the small negligible of CPU power to produce the “Hashcash stamp” is known as a Proof-of-Work. A spammer which attempts to spread his e-mail messages to adopters of this system will face a huge challenge of needing massive amounts of CPU hardware simply to send spam e-mail. The mini amounts of brute-forcing stack up exponentially for the spammer. Given the technology of 1997, it was to become extremely costly. This transfers the proof of burden/negative externality onto the spammer, incentivizing him/her to stop spamming. Adam Back’s Hashcash uses the algorithm 160-bit Secure Hashing Algorithm 1 [SHA-1]. SHA-1 is a cryptographic algorithm, first introduced by the National Security Agency [NSA] in 1993, the algorithm compares the result of an output to the expected output and attempts to identify the legitimacy of the input. Back’s implementation of proof-of-work [PoW] coupled with advances by the NSA would contribute to the foundation of the major cryptocurrencies we observe today, i.e. Bitcoin’s SHA 2, Ethereum’s SHA-3 variant.\n\n- Daniel on Cryptoeconomics.asia",
      "json_metadata": "{\"tags\":[\"cryptoeconomics\",\"fintech\",\"blockchain\"],\"app\":\"steemit/0.1\",\"format\":\"markdown\"}"
    }
  ]
}

{
  "trx_id": "abbe666418b14fa5feb98eb430e02210cc5ff947",
  "block": 18131710,
  "trx_in_block": 12,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2017-12-16T08:58:00",
  "op": [
    "account_update",
    {
      "account": "rauderce",
      "memo_key": "STM6BxCi7SmTkbt6Gonayvg4hKMgkFkobhfUVfiSVNhrVuhp9GBfe",
      "json_metadata": "{\"profile\":{\"profile_image\":\"http://www.hdnicewallpapers.com/Walls/Big/Waterfalls%20and%20Waterscape/Beautiful_Australian_Waterfall_HD_Wallpaper.jpg\",\"name\":\"Daniel\",\"about\":\"Hi guys, I'm Daniel, analyst at Cryptoeconomics.asia where we cover the economics of blockchain and cryptocurrencies. \",\"website\":\"https://cryptoeconomics.asia\"}}"
    }
  ]
}

{
  "trx_id": "6ab0abbdd32dcb8134a7cbc093c2f6e588ef5633",
  "block": 18131665,
  "trx_in_block": 5,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2017-12-16T08:55:45",
  "op": [
    "vote",
    {
      "voter": "alli.top",
      "author": "rauderce",
      "permlink": "prudential-stability-and-blockchain",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "8b86a383487a9671dd05c702659811bd6fdc37c9",
  "block": 18131639,
  "trx_in_block": 1,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2017-12-16T08:54:27",
  "op": [
    "comment",
    {
      "parent_author": "rauderce",
      "parent_permlink": "prudential-stability-and-blockchain",
      "author": "cheetah",
      "permlink": "cheetah-re-rauderceprudential-stability-and-blockchain",
      "title": "",
      "body": "Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:\nhttps://cryptoeconomics.asia/2017/11/30/prudential-stability-with-blockchain/",
      "json_metadata": ""
    }
  ]
}

{
  "trx_id": "5e779b631e257e9b5c65c8d68af8249883de957c",
  "block": 18131637,
  "trx_in_block": 8,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2017-12-16T08:54:21",
  "op": [
    "vote",
    {
      "voter": "cheetah",
      "author": "rauderce",
      "permlink": "prudential-stability-and-blockchain",
      "weight": 8
    }
  ]
}

{
  "trx_id": "d61c0bfca0eb1e6b5ade6a8ed274fa92ab1446dc",
  "block": 18131632,
  "trx_in_block": 25,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2017-12-16T08:54:06",
  "op": [
    "comment",
    {
      "parent_author": "",
      "parent_permlink": "cryptoeconomics",
      "author": "rauderce",
      "permlink": "prudential-stability-and-blockchain",
      "title": "Prudential Stability & Blockchain",
      "body": "Prudential Stability with Blockchain\n \n\n \n\nIn order to understand why FinTech could be a probable solution, we will need to examine the roots of prudential regulation. Prior to defining prudential regulation, we need to first introduce the term “macroprudential.” Introduced by the Bank of England [BoE] and Cooke Committee [predecessor to the Basel Committee] in June 1979 in a meeting about maturity transformation of cross-border lending practices (Clement, 2010). Although the term had been used in several financial crises i.e the Asian Financial Crisis, it was left unexamined for the greater part of two decades. It found an increased amount of adoption after the financial crisis of 2007-2008 which saw central banks’ balance sheets wiped out immediately. The aftermath of the Great Recession had many economists adopt a two-pronged solution under the umbrella term of Prudential [Prudent] Regulation. Macroprudential or macroprudence in regulation has the explicit goal of achieving a stable economy by reducing the costs of macroeconomic events in form of financial crises, sanctions, war. Macroprudent regulations act as the bridge between sound macroeconomic policy and microprudential regulations of firms and financial intermediaries (BOE, 2009). Even till today the term hasn’t achieved a fixed definition but has been agreed on by many to mean a supervision framework with regards to the general macroeconomic environment with the ultimate goal of reducing systemic risk.\n\n \n\nSome background\nOne decade after the start of the Great Recession, policymakers have several macroprudential tools that can be deployed when required. Many of these financial metrics exist to limit exuberance and are heavily focused on procyclical “suppression.” One key matrix is the max loan to value ratio and levy on noncore liabilities. Macroprudential risks and believed to be controlled through application of such macroprudent regulations. Regulators started expecting higher liquidity, implementing penalties on excessive risk-taking and enacted internal policies on forced haircuts on Asset-Backed Securities.\n\n \n\nAnd?\nIt would not be complete to discuss macroprudential regulation without Basel III. This latest accord would reflection the strictest and conservative macroprudential thought of our time. Improved on Basel II. Basel III most notably increased the capital requirements of financial institutions such as banks to ensure that these institutions would not face the credit and liquidity issues for which they experienced most notably post the Lehman Brothers crash. In those days, financial institutions held onto as much liquidity as possible and banked extremely conservatively. Distilled to its essence, Basel III attempts to transfer the externalities of the financial institution back to their own “books” through increasingly higher capital requirements which ranged from the minimum capital to a fully protracted “Conservation buffer” for which more liquidity is set aside to meet capital adequacy demands. In addition to capital requirements, Basel III targets the liquidity coverage ratios and implements a cap on the total leverage of such institutions (BIS, 2017).\n\nImproved communications and cooperation have allowed macroprudential policies to flourish. Although macroprudency has been popularized in the past decade it is Microprudential Regulation that has helped the economies globally remain financially sound. Microprudential regulations are firm-level regulatory requirements which help firms [chiefly banks] remain operational as contagion spreads around in a financial system. A microprudentially sound financial institution or firm is highly resilient to changes in the economy and tends to defend well against speculative attacks in credit crunch situations. Microprudential regulations are mainly focused on shoring up of balance sheets and places an importance on countercyclical actions. The BIS defines microprudential as “use of prudential tools with the explicit objective of promoting the stability of the financial system as a whole…” (Clement, 2010).\n\n\n\n\nRationale of Prudential Regulation\nIn 2011, OECD researchers Slovik & Cournède found that the combined economic impact of increased regulation, with Basel III leading the charge, would be a 0.1% decrease in GDP growth per year (Slovik & Cournède, 2011). The Basel III accord attempts to address some of the systemic risk faced by regulators during crises and hopes that this additional voluntary protocol can help cushion the blow in upcoming financial crises.\n\n \n\nThe above cases have shown that we need some form of systemic accountability which happens to occur in form of prudential regulation. However, what is the rationale for Prudential Regulation? Regulators and analysts require prudential regulation for three problems.\n\n \n\nPrincipal-Agent Problem\nalso known as the agency problem. Carries with both macro and micro implications. Firstly, the presence of moral hazard with both retail and investment banks expecting central banks to step in to intervene as the lender of last resort. This can be observed in Lehman Brother’s collapse during the Great Recession for which most participants had expected that Bernanke would step in, utilizing the powers accorded to it through Section 13a of the Federal Reserve Act. Chair of the Fed Bernanke and US Treasury Secretary Paulson instead tried to broker a deal between other banks knowing fully well that U.S. taxpayers will not be able to stomach a bailout of Lehman. The brokered deal did not go according to as planned and Lehman Brothers Holdings Inc. filed for Chapter 11 on September 15, 2008. This debacle has shown that this separation of ownership and management meant that firms in such as situation needs to rely on the regulator to do the “cleaning up.” After adopting policies that had them levered up to their necks. The microprudential part of the agency problem can be explained using the bailout of Fannie Mae, Freddie Mac, and AIG. The latter’s bailout package occurred the next day. On September 16, 2008, the United States government seized AIG after providing it with a USD 85 billion bailout package. Prior to the Lehman failure, on September 6, 2008, the US government took over control of both Fannie Mae and Freddie Mac citing financial health concerns\n\n\n\nAgency Problems\nIt stands that it was an error on Lehman Brothers’ part to assume that the Fed would step in before its collapse. It too was a problem over at the Treasury’s/Fed’s end. How did they decide which institution or firm was to receive aid from the Fed or Treasury? Was Lehman Brothers allowed to fail due to their smaller market capitalization, in contrast, AIG with its massive market capitalization is too big to fail? Regardless, this formed a strong basis for increased oversight and prevention measures through prudential regulation such that regulators need not have to face such on-the-fly decision making in the first place.\n\n \n\nPrudential policies\nPrudential policies are subject to rent-seeking behaviour in forms of lobbying and manoeuvring. Secondly, current prudential regulations exist only to shore up defences against the next financial crisis. It is public knowledge that no one can predict the future and as such have no true idea if these improvements could stand up to the test of time, or would even be implemented at all. This paper proposes taking a quick look at current improvements in the field of financial technology and its increased applications in order to serve the same financial institutions that were trapped during the Great Recession attempts to address these problems in a complementary way. Critics can argue that the main value proposition of FinTech is to bring more dollars and cents in terms of revenues to the very financial institutions that are applying it. However, unknowingly, they are also funding the reduction of asymmetric information. And as we shall review in upcoming posts, bring greater security and scrutiny to traditional banking.\n\n\n\n-Cryptoeconomics.Asia",
      "json_metadata": "{\"tags\":[\"cryptoeconomics\"],\"app\":\"steemit/0.1\",\"format\":\"markdown\"}"
    }
  ]
}

{
  "trx_id": "ad2e31e1aaf8f5333330bb561d46b0bbef247801",
  "block": 18114328,
  "trx_in_block": 28,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2017-12-15T18:28:48",
  "op": [
    "transfer",
    {
      "from": "hottopic",
      "to": "rauderce",
      "amount": "0.001 STEEM",
      "memo": "Hello rauderce. I Followed you.If you follow me, I'll be happy.Thanks :)"
    }
  ]
}

{
  "trx_id": "9c95d86a36e621d2dc698f6a492bf70e11a53a2c",
  "block": 18114327,
  "trx_in_block": 27,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2017-12-15T18:28:45",
  "op": [
    "comment",
    {
      "parent_author": "",
      "parent_permlink": "cryptoeconomics",
      "author": "rauderce",
      "permlink": "crypto-macroeconomic-perspectives",
      "title": "Crypto Macroeconomic Perspectives",
      "body": "Crypto Macroeconomic Perspectives\n \n\n \n\nIn this article we discuss about the macroeconomic perspective for cryptocurrencies today. It can be easy to adopt a short run view on cryptocurrencies. Many are aware of its ever rising fame and popularity as a store of value / medium of exchange [contested by critics]. There are however three major upcoming events that will shape the cryptocurrency industry.\n\n \n\nBasel III in 2018\nBasel III in 2018 – although cryptocurrencies have a negative or zero correlation with the real economy. It follows that the most traded pairs seem to be dominated by fiat pairs. In other words, BTC/USD, BTC/JPY, BTC/KRW, BTC/EUR, this applies to all other cryptocurrencies too. The Incoming implementation of Basel 3 thus poses a macroeconomic threat to the cryptocurrency market. As financial institutions such as banks urgently need to shore up their capitalization for Basel 3. It could result in greater risk-taking in the speculating arms of those very financial institutions. And where else other than the market with the greatest violability to depend on returns? At the time of writing (31 October 2017) The total market capitalization of the top 5 cryptocurrencies in the market is Bitcoin (USD 103 bn), Ethereum (USD 29 bn), Ripple (USD 8 bn), Bitcoin Cash (USD 8 bn) and Litecoin (USD 3 bn). In other words, the full cryptocurrency market can move at the whims of the largest too big to fail institutions. And since regulations are lacking at all levels, this can result in contagion and additional unforeseen macroprudential risks that can cause “leakage” to the global financial system. More has yet to be seen, only time will tell.\n\n \n\nScalability issues of Bitcoin\nScalability issues of Bitcoin. The deviation first occurred as more individuals found themselves wanting a more robust/malleable cryptocurrency. When Satoshi Nakamoto’s Bitcoin could not provide there were two major solutions that arose\n\na. Sidechains of the Bitcoin framework OR Supporting frameworks\n\nOmni, Counterparty, and Rootstock are all of this section. The sidechains derive their usage and thus value from being used by the same users of the Bitcoin Main net. As such their values can be said to be PEGGED to the value of the Bitcoin network. They live and die by the growth of Bitcoin. [As of November 2017, all are doing very well]\nb. Alternative Coins\n\nEthereum, Bitshares are the two main proponents of this sections. Although there are many similar solutions it would be useful to focus on these 2 cryptos.\nWhy? Firstly, Ethereum is a cryptocurrency founded to solve the smart contract issue, its main objective is to be the “fuel” that powers the Decentralized Autonomous Organization (DAO), as of 2017 Ethereum has been slowly losing market share to the incumbent Bitcoin but has entirely served its purpose of smart contracting as Initial Coin Offerings (ICOs) upwards of a US$200 million have been successfully funded with zero regulatory or intertemporal regulations in place.\nBitshares has been serving the same purpose as its micro-level control which allows for voting and spending processes to be extremely concise. Critics will be quick to point out that Bitshares is simply a fast-forwarded improvement of what Bitcoin would eventually become, but many others beg to differ, citing that there would need to be huge increases and change to the code for this to occur. And given the current level of technical debt in the Bitcoin framework, it could in fact never occur.\nBefore we continue there’s a need to explain the 3 main types of tokens. The 3 token types within a cryptoeconomical framework:\n\n1) Cryptocurrencies – Digital currencies et al. that serve in place of fiat currencies.\n\n2) Utility Tokens – Tokens that primarily serve a purpose for a project, many current ERC20 Ethereum projects are utility tokens. The use of utility tokens should not be confused with Security Tokens, utility tokens are present to help a user access a firm’s services and are distinct from securitized tokens.\n\n3) Security Tokens – Tokens that serve as a stake in a firm. Most exchanges eg. Bifinex, Bittrex refuses to list Security Tokens as that would fall under the securities laws of countries that they are operating in. Distinct characteristics are: (i)allocation of dividends (ii)token representing a stake in ownership\n\n \n\nIt is important to be aware of the different classifications as they will dominate most regulatory/informative discussions.\n\n\n\n\nDeviation of Cryptocurrencies\nDeviation of Cryptocurrencies into CryptoCurrencies and CryptoAssets. First proposed by Professor of FinTech Dr David Lee of the Singapore University of Social Sciences.\n\na. CryptoCurrencies [CC]\n\nBitcoin\nLitecoin\nUSDT aka Tether\nEthereum [see ETH’s summary in Hybrid CC+CA]\nb. CryptoAssets [CA]\n\nBitconnect (BCC) – Derives its value by pegging itself to Bitcoin. It claims to operate a lending/investment bot which rewards users (at the time of writing) 7% interest in Bitcoin for lending a loan in Bitconnect Coins. Has been critiziced to be a ponzi scheme, however, that aside. Bitconnect (BCC) is a fine example of a Static CryptoAsset.\nEthereum Classic – The “original” unchanged Ethereum due to a past controversy, Ethereum Classic remains under-funded and underdeveloped. It however trades at approximately USD 10/ETC. Although volumes are plenty, it has lost to its older brother Ethereum and now derives all of its value from sacarcity, much like Bitcoin. It is thus a Dynamic CryptoAsset.\nSteem – CryptoAsset award for sharing/posting in the Steemit forum, users are rewarded with Steem if their articles and posts get upvoted by fellow users. Steem itself serves no actual evolutionary purpose but is continually developed by its core developers and supporters of the platform. It is a Static CryptoAsset\nAnd many more eg. Basic Attention Token, etc.\nc. Hybrid CC+CA\n\nEthereum [see also CC] – Ethereum has ben devised specifically for its use as “fuel” for multiple smart contracts, it thus has 2 critical roles. (1) Serve as fuel for smart contracts of different types (2) Derives it value from the value it creates for the projects that are built on its code. Ethereum is thus a unique CC+CA Hybrid, it grandfathers many assets which are listed alongside it in Coinmarketcap.com and can call upwards of USD 2 billion of additional ERC20 token assets that depend on its functioning state. Ethereum is the new digital oil.\nGolem – Derives its Hybrid value due to its current stage in development. GNT, as it is called is still a product in development. With eventual goals of using host GPUs to help process/render images/videos. Golem is now a Hybrid. It is currently a CryptoAsset with the expectation of becoming a CryptoCurrency in the near future. Although it should only be considered as a CryptoAsset, expectations landed it in the Hybrid section. Readers should note that expectations of users very much drives the developmental direction of many blockchain/cryptocurrency projects.\nNetwork effects decay\n \n\nExisting Network effects expected to slow, users are depending on unbanked to load. There is an answer or end to everything. This includes the adoption of Bitcoin/cryptocurrencies in general. Once network effects start to reach a decaying spread of information, prices of cryptocurrencies are expected to not rise as much. This can be graphically shown as a decaying ln curve.",
      "json_metadata": "{\"tags\":[\"cryptoeconomics\"],\"app\":\"steemit/0.1\",\"format\":\"markdown\"}"
    }
  ]
}

{
  "trx_id": "dbf82b0ac5b957cef6e9ecba86e519bb5cc6234d",
  "block": 14271411,
  "trx_in_block": 7,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2017-08-04T05:16:36",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "rauderce",
      "vesting_shares": "29941.647137 VESTS"
    }
  ]
}

{
  "trx_id": "ac2ca49cff7a682c8081153d4354fe78293d73d0",
  "block": 13901867,
  "trx_in_block": 20,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2017-07-22T09:06:12",
  "op": [
    "custom_json",
    {
      "required_auths": [],
      "required_posting_auths": [
        "rauderce"
      ],
      "id": "follow",
      "json": "[\"follow\",{\"follower\":\"rauderce\",\"following\":\"protegeaa\",\"what\":[\"blog\"]}]"
    }
  ]
}

{
  "trx_id": "0000000000000000000000000000000000000000",
  "block": 13740271,
  "trx_in_block": 4294967295,
  "op_in_trx": 0,
  "virtual_op": 14,
  "timestamp": "2017-07-16T18:21:27",
  "op": [
    "author_reward",
    {
      "author": "rauderce",
      "permlink": "re-fortified-vault-7-or-bothanspy-and-gyrfalcon-implants-that-steal-shh-credentials-from-windows-and-linux-20170709t182103895z",
      "sbd_payout": "0.009 SBD",
      "steem_payout": "0.000 STEEM",
      "vesting_payout": "18.603917 VESTS"
    }
  ]
}

{
  "trx_id": "dd07b9f912877bd435af23d943d8b6c1ae658360",
  "block": 13694406,
  "trx_in_block": 3,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2017-07-15T04:06:15",
  "op": [
    "comment",
    {
      "parent_author": "rauderce",
      "parent_permlink": "re-dutch-bitshares-is-going-to-dominate-crypto-in-2018-here-s-why-20170709t181609249z",
      "author": "nickeles",
      "permlink": "re-rauderce-re-dutch-bitshares-is-going-to-dominate-crypto-in-2018-here-s-why-20170715t040615829z",
      "title": "",
      "body": "they definitely need to upgrade there UI and make it much more friendly.\nI havent seen a Appstore app yet either",
      "json_metadata": "{\"tags\":[\"bitshares\"],\"app\":\"steemit/0.1\"}"
    }
  ]
}

{
  "trx_id": "cd0c45b979285b2ed18e9ab2491ece1ec56341e0",
  "block": 13694398,
  "trx_in_block": 0,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2017-07-15T04:05:51",
  "op": [
    "vote",
    {
      "voter": "nickeles",
      "author": "rauderce",
      "permlink": "re-dutch-bitshares-is-going-to-dominate-crypto-in-2018-here-s-why-20170709t181609249z",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "5f1e215e16d02101d90dff7ef293370161380a20",
  "block": 13580533,
  "trx_in_block": 12,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2017-07-11T05:05:54",
  "op": [
    "comment",
    {
      "parent_author": "jrcornel",
      "parent_permlink": "is-a-solar-powered-mining-rig-the-wave-of-the-future",
      "author": "rauderce",
      "permlink": "re-jrcornel-is-a-solar-powered-mining-rig-the-wave-of-the-future-20170711t050554614z",
      "title": "",
      "body": "thanks for keep us updated! Interesting perspectives going around. It's really good that we are trying to lessen wasteful expenses, solar might just do the trick. A partial reason for eth fork was that VB didn't want eth to be waste a million just mining for ethereum.\n\nGood article!! Keep them coming!",
      "json_metadata": "{\"tags\":[\"cryptocurrency\"],\"app\":\"steemit/0.1\"}"
    }
  ]
}

{
  "trx_id": "087879e60a4883f3dab96b5f05ab883e1dde7f85",
  "block": 13580481,
  "trx_in_block": 12,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2017-07-11T05:03:18",
  "op": [
    "custom_json",
    {
      "required_auths": [],
      "required_posting_auths": [
        "rauderce"
      ],
      "id": "follow",
      "json": "[\"follow\",{\"follower\":\"rauderce\",\"following\":\"steemlinks\",\"what\":[\"blog\"]}]"
    }
  ]
}

{
  "trx_id": "57e6ad95c0fae32221253ddadce71e7ac977b006",
  "block": 13580481,
  "trx_in_block": 0,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2017-07-11T05:03:18",
  "op": [
    "custom_json",
    {
      "required_auths": [],
      "required_posting_auths": [
        "rauderce"
      ],
      "id": "follow",
      "json": "[\"follow\",{\"follower\":\"rauderce\",\"following\":\"roybling12\",\"what\":[\"blog\"]}]"
    }
  ]
}

{
  "trx_id": "53d56ce8fab1bae0b4181c2998a6591ecd0bf603",
  "block": 13580479,
  "trx_in_block": 4,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2017-07-11T05:03:12",
  "op": [
    "custom_json",
    {
      "required_auths": [],
      "required_posting_auths": [
        "rauderce"
      ],
      "id": "follow",
      "json": "[\"follow\",{\"follower\":\"rauderce\",\"following\":\"always1success\",\"what\":[\"blog\"]}]"
    }
  ]
}

{
  "trx_id": "9e9636866060e31ba3d1ba8b9511db9099bb1eea",
  "block": 13580445,
  "trx_in_block": 10,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2017-07-11T05:01:30",
  "op": [
    "comment",
    {
      "parent_author": "razvanelulmarin",
      "parent_permlink": "cool-indestructible-backup-tool",
      "author": "rauderce",
      "permlink": "re-razvanelulmarin-cool-indestructible-backup-tool-20170711t050129888z",
      "title": "",
      "body": "wow it looks awesome. Might have to get me one to store my master password",
      "json_metadata": "{\"tags\":[\"crypto\"],\"app\":\"steemit/0.1\"}"
    }
  ]
}

{
  "trx_id": "f87fdd449902a652665991d05a9a4ff4dfb93352",
  "block": 13542458,
  "trx_in_block": 7,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2017-07-09T21:16:33",
  "op": [
    "vote",
    {
      "voter": "cybercodetwins",
      "author": "rauderce",
      "permlink": "re-dutch-bitshares-is-going-to-dominate-crypto-in-2018-here-s-why-20170709t181609249z",
      "weight": 0
    }
  ]
}

{
  "trx_id": "cf6501e7e7d59bfd00058e75a0f2cf50c95e8c02",
  "block": 13542402,
  "trx_in_block": 20,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2017-07-09T21:13:45",
  "op": [
    "vote",
    {
      "voter": "cybercodetwins",
      "author": "rauderce",
      "permlink": "re-dutch-bitshares-is-going-to-dominate-crypto-in-2018-here-s-why-20170709t181609249z",
      "weight": 10000
    }
  ]
}

{
  "trx_id": "806440fe9d621b23b4c091c89f45bb34a5ce163d",
  "block": 13540730,
  "trx_in_block": 12,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2017-07-09T19:50:09",
  "op": [
    "vote",
    {
      "voter": "fortified",
      "author": "rauderce",
      "permlink": "re-fortified-vault-7-or-bothanspy-and-gyrfalcon-implants-that-steal-shh-credentials-from-windows-and-linux-20170709t182103895z",
      "weight": 1000
    }
  ]
}