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      "body": "Congratulations @sellthehype! You received a personal award!\n\n<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@sellthehype/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/@sellthehype) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=sellthehype)_</sub>\n\n\n###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!",
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      "body": "Congratulations @sellthehype! You have received a personal award!\n\n[![](https://steemitimages.com/70x70/http://steemitboard.com/@sellthehype/birthday1.png)](http://steemitboard.com/@sellthehype)  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<table><tr><td><a href=\"https://steemit.com/steemfest/@steemitboard/the-meet-the-steemians-contest-is-over-results-are-coming-soon\"><img src=\"https://steemitimages.com/64x128/https://cdn.steemitimages.com/DQmeLukvNFRsa7RURqsFpiLGEZZD49MiU52JtWmjS5S2wtW/image.png\"></a></td><td><a href=\"https://steemit.com/steemfest/@steemitboard/the-meet-the-steemians-contest-is-over-results-are-coming-soon\">The Meet the Steemians Contest is over - Results are coming soon ...</a></td></tr></table>\n\n> 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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      "body": "![Aergo startere black edition.png](https://cdn.steemitimages.com/DQmVsa6D52SFKWXgT9hNd6Wy2urbgRVXk37GYcbnMJhNpV4/Aergo%20startere%20black%20edition.png)\n\n__General description:__\nThe main point of interest is Blocko — the mother company of Aergo. It started in 2014 and has been deploying blockchain infrastructure for Korean enterprises (is being used by 23 of them). “AERGO intends to leverage and build upon Blocko’s existing COINSTACK platform, which is a fully supported enterprise product that has been adopted by many of its existing clients.”\n\nIn other words, the next step for Blocko’s private blockchains is interoperability.\n\nAergo will provide exactly this.\n\n![1_DvRxHyflilLq-y6et5lO_g.png](https://cdn.steemitimages.com/DQmcLeHDxSgWdA78yoQVDhexhTWfchTixKZVCNx8LiFRE5c/1_DvRxHyflilLq-y6et5lO_g.png)\n\nWe can think about private blockchains as of local networks. But as local networks provide significantly more value being interconnected (the Internet), so will do and private blockchains (through public blockchains).\n\nInterestingly, that as ICON also works in the Korean market, they, probably, can work together and become interoperable with each other, forming one Korean piece of Web 3.0.\n\n![Untitled.png](https://cdn.steemitimages.com/DQmWTYK9dyZ1BL3672WQHfESDo1Ms15ge4jo68CaLGCZxXd/Untitled.png)\n\nJust an assumption\nHowever, Aergo seems to lack the possibilities to form the truly global web of interconnected blockchains. The competition is dire, the current market leaders are unlikely to slow down.\n\n![Безымянный.png](https://cdn.steemitimages.com/DQmPUusJDqf1ErFRj2A9QJ6T6Hq431j4b14tbYq9nS9JKQx/%D0%91%D0%B5%D0%B7%D1%8B%D0%BC%D1%8F%D0%BD%D0%BD%D1%8B%D0%B9.png)\n\n__AERGO CHAIN:__​ A public network of enterprise blockchains.\n\nWill be EVM (Ethereum Virtual Machine) compatible. The team has been working with EVM for years and knows it really well.\n\n__AERGO HUB​:__ the public interface into the underlying AERGO Chain.\n\nAERGO Hub aims to work with and connects secure dApps with AERGO Chain.\n\n__AERGO MARKETPLACE​:__ a proposed one stop shop for software applications, computing resources and other services optimized for AERGO Chain.\n\n__Team:__\n33 employees listed on LinkedIn — an outstanding result for typical ICO.\n\nThe team has been working with blockchains since 2014. They should be among the few with the competency in that field.\n\nThe fact that their solutions are used by more than 20 companies in Korea proves both their technical and business viability.\n\nHere is the interview with COO if you are interested: \nhttps://www.youtube.com/watch?v=H8yY6GnnsAA&feature=youtu.be\n\n__Tokenomics (the most important part of any long-term project):__\nThe only good for investors token use case comes from DPoS consensus mechanism and future onchain governance. The tokens will be used for staking = guaranteeing the honest behavior of block producers+granting voting power (“DAO governance for platform evolution is our long-term objective”). Staked tokens will out of the supply, so it should positively affect the price.\n\n“We can use around 20+ Block Producers (“BP”) and 50 BP candidates. There can be many non-BP nodes in the network. In the sub-chain (or private chain) you can change the number of BP and BP candidates. In the case of Public Network, they can potentially be changed by a DAO process. We will analyze other DAO cases, and consider adopting good and proven protocols in the best interests of the platform.”\n\n“The AERGO Token is broadly speaking intended to be the medium of exchange within the AERGO ecosystem.\n\nMore specifically, it is intended that the tokens are used for:\n● running the smart contract (AERGOSQL); \n● DPOS consensus algorithm \n● payment method for Blocko’s technical support on Coinstack 4.0;\n● payment method for AERGO Hub services;\n● payment method for services and assets on AERGO Marketplace; \n● payment method for the AERGO domain.”\n\n\n![Token usage.png](https://cdn.steemitimages.com/DQmPVuy44Vbu8Jk6qD1HAVHcEobWX7WPWPP4WYgNC8UtNMs/Token%20usage.png)\n\n\n![Roadap 2.png](https://cdn.steemitimages.com/DQmer86cesssk6cMa5MG59FcfPrdPKygjS8iwsAbjubyxMt/Roadap%202.png)\nFast main net in Q1 2019 should ease listings on good exchanges if the team is willing to pay the fees.\n\n__Andre Cronje AERGO Code Review Conclusion:__\n“They are keeping close to their roadmap, everything they promised is there. The code is fine, nothing wow, just another blockchain 0.5 for now. Guess September and December will be key.\n\nA lot of code for a pre-ICO company, a lot more substance than I’m used to for where they are in their life cycle. Nothing wow yet, but good so far. I’ll check in on them again in September and December.”\n\nVite Code Review Timestamp: August 3rd 2018 (we should wait for the updates).\n\n__The investors:__\nBlocko — the parent company has __Samsung Ventures__ as one of the investors. Also, overall, there were 4 rounds of funding, which shows the consistency of deliverance from the team and trust (with a willingness to put in more money) from investors.\n\nBlocko funding rounds:\n\nSep 4, 2015 \nSeed Round — Blocko — $25K\n\nJul 14, 2016 \nSeries A — Blocko — $1.4M\n\nApr 3, 2017 \nSeries A — Blocko — $3.3M\n\nJun 11, 2018 \nSeries B — Blocko $8.9M\n\n__Overall: $13.4M__\n\n![AERGO-backers.jpg](https://cdn.steemitimages.com/DQmWUjU6Y97vejNkAYNynxgCmnAWZiFSRH6WwJtw8eMviLE/AERGO-backers.jpg)\n\n\nDon’t see any particular funds that I personally consider as good ones here. Just an average result for an ICO. After 2017 there are many “crypto hedge funds”, spawned by the easy money of the bubble.\n\n__Metrics:__\n\n![Token supply.png](https://cdn.steemitimages.com/DQmWNgsBmiffNciy7a4vNw6BhsHyHbbL75anQ5QhcDr2WaK/Token%20supply.png)\n\n![Token description.png](https://cdn.steemitimages.com/DQmU4zNtamyrxadJ6C9Ci47RrhBnCd5drDBBmi9WEqJsoiN/Token%20description.png)\n\nThe picture is taken from https://t.me/KryptoSherlock, don’t know the original source\n\n__Wrap-up__\nDon’t see anything revolutionary (blockchain 4.0🙄) in AERGO. It is just another DPoS blockchain. The project’s main advantage is the experience of the team and the actual usage of their private blockchains infrastructure by some large Korean companies. AERGO is the next step for these existing private blockchains. Through it, they will interconnect and form their piece of Web 3.0.\n\nThe experience of the parent company - Blocko will help the company to bootstrap their network in Korea. According to the team, they have \"25million endpoints\" or \"AERGO's core technology is already being used by over 25 million users\" on 23 private blockchains managed by Blocko team and used by such companies as KIA, Hyundai, Lotte Card, Hyundai Card, Samsung and Gyeonggi-do province - the most populous province in South Korea (around Seoul). __That is impressive.__\n\n![Use case 1.png](https://cdn.steemitimages.com/DQmSEsi41AhRYuuhCjCvqPQuheX65xbc1PdcMZGwM4uWy2Z/Use%20case%201.png)\n\n\nBlocko is developing 10 Dapps for AERGO, which they will announce soon. Some (maybe the main ones) will be games and somehow utilize non-fungible tokens. They want to release a game that will help to form a fanbase around the project and prove the scalability of it “so it won’t break like Ethereum under Cryptokitties”.\n\n__On the international arena:__\n\nThey will have two international departments — a business team and R&D. The latter already has developers from UK, Germany and Brasil. And they “will hire anywhere in the world”.\n\nThey deploying business teams focusing on the following markets: Korea, China, UK, Germany and North America. AERGO will have offices in these countries.\n\nThe VCs of AERGO are rather nondistinguishable to my taste.\n\nIs it enough to compete with giants like Ethereum, EOS, Dfinity, Hashgraph, Cardano, Ontology —__ projects with hundreds of millions of budgets and support from international investors and institutions?__ My bet is no.\n\n$39 million (ICO+the latest round of Blocko) doesn’t seem impressive in this context.\n\nI also think that to the date the main beneficiaries of AERGO ICO are the Blocko investors. They get easy ICO ($30m) money for the company, in which they invested just $13.4m. Plus they will be able to sell more tokens on exchanges.\n\n__Tokenomics:__\n\nIt is OK, but nothing special. DPoS with __maybe__ onchain governance about the future platform development path __somewhere in the future.__ (A rather vague and non binding statement).\n\n__Conclusion:__\n\nI think that AERGO can deliver you some profits. Nothing disruptive speaking of technology. However, it is a good one. They have already accomplished more than many (so many) other projects in crypto. __I think that $30m is a conservative valuation for them__, and they can enjoy some upside.\n\nIn 2017 it would be the killer ICO.\n\nLet's see how they manage their community, what partnerships bring in, ddaps they develop and, of course, on the progress of their competitors. We missed the ICO, so no need to hurry.\n\n\n\n__If you liked the post feel free to subscribe to https://t.me/Hash2Cash on telegram. I write articles about crypto fundamentals and ICOs.__",
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      "body": "**Coins mentioned in post:**\n\nCoin | | Price (USD) | 📈 24h | 📈 7d\n- | - | - | - | -\n**BTC** | Bitcoin | 6374.520$ | _-0.06%_ | _2.4%_\n**DNT** | district0x | 0.035$ | _5.43%_ | _8.45%_\n**DOGE** | Dogecoin | 0.002$ | _-0.8%_ | _-0.94%_\n**ETH** | Ethereum | 452.336$ | _-0.35%_ | _-1.53%_",
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      "body": "My huge thanks to Dimitri De Jonghe and Simon de la Rouviere, whose materials gave me the basis for writing this article.\n\n![Attention grabber v2.png](https://cdn.steemitimages.com/DQmWXUy6Rpi9jcgcJ2aGu6KfZ48znhAsE2kF1KoTkhh9vuv/Attention%20grabber%20v2.png)\n\nAn image to attract the attention of the reader. [1]\n\n\nAs was at the beginning of the era of the Internet, nobody could predict what innovations new technologies would bring to the world. With blockchain, if someone could imagine that Bitcoin would, probably, become the foundation of the next decentralized financial system, the cascade of ideas that followed it hardly could be forseen by anyone. Sometimes, these new ideas integrate into our lives rather seamlessly. When we hear about such implementations we most often think something like: “oh, nice, that makes sense”. But once in a while there are absolutely beautiful, yet nonsensical and delusional ideas that come straight out of the blue and cause you a little cognitive shock.\n\n__Like, for example… Meme Markets__\n\n![NYAN.png](https://cdn.steemitimages.com/DQmbwycP2LhdDEhnsvKipUhdia2tfV16fFVZk6657xTaTWB/NYAN.png)\n\nA comprehensive technical price analysis taken from [2].\n\n__Wait, what!?__\nMeme Markets. They are markets, where people can invest their fortunes into a well-diversified portfolio of funny (or not so) pictures with random letters in hopes that they will spread like a mental virus from person to person and, eventually, will reach CNBC or whatever main channel in your country is. Where they will become the ultimate fun of the masses and quickly degrade into obsolescence, maybe even returning back to you from the side, where you expect and dread such an attack the least of all — from your parents or grandma.\n\n__But…why?__\n\n![pepe blockchain.png](https://cdn.steemitimages.com/DQmRBUooaMy15V9kSWybUYmiqadAbvvuE7jpaTYyBAUekEN/pepe%20blockchain.png)\n\nCures cancer, walks on the water, and creates cute kitties\n\nAlright, let’s bring in some rationality.\n\nFirst, on the basis of an article from Simon de la Rouviere “History Is Rhyming: Fitness Functions & Comparing Blockchain Tokens To The Web” [3], we will state the thesis that “ Everything will be tokenized”.\n\nAccording to Simon, the reality is:\n\n_“Blockchain tokens have reduced the cost to tokenize coordination by orders of magnitude, and thus we are likely to see the effective tokenization (and by extension, the introduction of markets) into almost everything.”\nAnd, that, in fact, makes sense. Because what is the cost of tokenizing ANY sort of a thing? You just need to write few lines of code that will issue your token. Imagine the world in one or two years. You will be able to program a simple (or maybe even a fancy one) smart-contract on your mobile, issue any kind of a token and airdrop it to the millions of wallets._\n\nThe real problem will be in user aquisition (to build up the network effect) for such token. Because, if you issue your own cryptocurrency — Bobcoins and nobody else uses it, well, you have just created something like tons of other-crypto crap. However, if you are Telegram (also created TONs!) and have 200m users, you have just tried to become an alternative financial system for the world.\n\n__But..memes.. Why would anyone do something like this?__\nProbably you will be amazed, but the world is ripe for the meme tokenization (or shell we say memenization?). Don’t believe me? Watch this:\n\n__Dogecoin__ — was a joke meme-coin at the beginning and now sits at $400 million (at the time of writing) market capitalization, being the 47h largest cryptocurrency. 47th! There are 1500 other “Ethereum killers”, “better Bitcoins” and “IoT futures” and yet, Doge dominates them like a boss.\n\n![Just doge.png](https://cdn.steemitimages.com/DQmYThFtSgMjPvvNLUpn3mp8jmFKQVZvqzoeicsbkVoyTZz/Just%20doge.png)\n\nHad no ICO, still better than yours.\n\nHere I want to emphasize that Dogecoin hasn’t had much development over the years. It also doesn’t have a marketing budget, strategic partners, masternodes, staking mechanism, governance — no one to pump its price. However, the Doge community is growing steadily and has 118.273 shibes at the moment.\n\n\nThe other example, of course, is __Pepe Cash __— not so impressive as papa Doge, but a rare Pepe currency has $17m market capitalization and serves as another example of how meme-related coins can find a place at the market.\n\n![rare pepe.png](https://cdn.steemitimages.com/DQmf9gacndrnnSqMFh1K8HABztSsv6o8MQPwRguhhRThGer/rare%20pepe.png)\nYou cannot buy this for dollars…\n\nSo, now, when we know that memes can be pretty successfully valued at the market, let’s have a look at the “end users”, who might adopt all that insanity.\n\nThe first place I want to share with you has exactly the right name to be in this article. It is a subreddit named “__Meme Economy__”.\n\n![Meme economy 3.png](https://cdn.steemitimages.com/DQmUiQmy3k6wfCNKSTiWGHetwLK74oC7vCrnDESeU82jFRM/Meme%20economy%203.png)\n\nBecome a memellionaire and make your mom proud of you [2].\n\nWhat the hell is that?\n\n\nIt is a community of __543.000 people__, who share memes and vote on them. As you can see, the format of posting and attracting people into voting for your meme is highly referenced to the trading of memes. We even can view it as a proto-market of a sort, where the person who “bought in” (posted a meme) early can get “a profit” in increasing his or her reputation if other users “buy” (find this meme attractive) this meme with their votes.\n\nIn addition to Meme Economy group, there are hundreds of sites and publics in various social networks all over the internet, dedicated to exactly this: __sharing and voting on memes__. 9gag, dank memes subreddit — are some of the other examples.\n\nThus, the number of people, who are engaged in the memes “consumption” or spreading is huge (let’s be realistic, it is almost anyone, who uses the internet).\n\n__Meme life cycle__\nWhat is even more staggering is that the cycle of a meme popularity resembles the typical financial bubbles very closely. As in the financial markets, where the initial price action starts with “the smart money” and then is followed by institutional and public investors, ultimately leading to “overbuying” and market crash, the spreading of a meme has alike stages.\n\n![C4vvsIYUMAAqaq9.jpg](https://cdn.steemitimages.com/DQmRADUaS5e1Cpzz64tjQd37n4DdiLUFLDPsWaYZUyKcxPw/C4vvsIYUMAAqaq9.jpg)\n\n\nAs people are herd animals, their “herding ” tends to create huge price imbalances at the financial markets with periods of mass euphoria and depression. With memes, we can track the same herding effect, which is initiated with a relatively narrow group of people, who actually can produce memes, and later expansion into the broad audience with the early community being already bored by the meme.\n\nThe last bit I want to add to the argument of the market readiness for meme tokenization is that this idea seems so ridiculous that there are a number of fun videos and memes were created around exactly the “meme investor lives” and “meme billionaires”. Imagine how fun it will be for so many people to actually do try this. Here are some examples:\n\n![Untitled.png](https://cdn.steemitimages.com/DQmbr3Y1c17b9habZZPfRPQ8saKxxgeHzwjHhDv3PQedeyK/Untitled.png)\nDruzhko Show (in Russian) and The Wolf of Meme Street [4,5].\n\n\nNow, if you are still reading, you might ask:\n\n__“But how is it even possible to trade… memes? “__\nI have two possible answers for this:\n\n__Bonding curves__\n\n\n![Bonding Curve.png](https://cdn.steemitimages.com/DQmWg7bYt1MDANiW8rPeEd2XgGKhAF1fjriokxiULCxfdJ7/Bonding%20Curve.png)\nThe picture and the idea taken from [6].\n\n\nBonding curves — are smart contracts that algorithmically define the relationship between a token’s price and its supply. In other words, it fixes the price for every token you buy and sell in a dependance with the token’s supply.\n\nLet’s see an example:\n\n1. You buy a bonding curve token (BCT) with ETH through a smart contract. Your ETH stays in that particular smart contract. It is not transferred to any team or organization.\n2. The price of you buying is programmed into the smart contract and depends on the current token’s supply. Ex.: you buy for 0.01ETH if there are 10 BCT tokens in circulation and you buy for 0.011ETH if there are 11 BCT in circulation. __The more BCT in circulation = the higher the price.__\n3. Your sell-back price is also determined by the same bonding curve algorithm. You (and anyone else) can sell your BCT for 0.011ETH if there are 11 BCT in circulation and for 0.01ETH if there are 10 BCTs. __The fewer BCT tokens in circulation = the lower the price.__\n\nTherefore, the sooner you buy the BCT, the cheaper it will be for you. If more people buy in, you will be able to sell back your BCT with a profit.\n\nEven though at the moment it may resemble an old-good financial pyramid, I definitely see that Meme Bonding Curves may emerge and, what is important, to continue evolving with time. If someone is able to tie the popularity of a meme (which is actually can be easily measured by, say, Google trends) to a token price in a smart contract the impact will be huge.\n\nI definitely can imagine how the millions of teenagers around the world will start losing their pocket money (or making fortunes) due to some Pepe the Frog meme bubble burst =D\n\n__Token Curated Registries (TCR)__\n\nThe idea is simple: People can propose to include an item in a curated registry. To do so, one should back its proposal with a stake. After the proposal becomes visible to other people, they can support it with their own “support stakes” or challenge it making a “challenge stake” if they think that an item doesn’t belong to the list.\n\nAfter a passing of a certain period of time, if the amount staked in support of a proposal is higher than the “challenge stake”, the item becomes a part of a curated registry, the “support stakes” are refunded to the supporters, and the stakes of challengers are slashed the redistributed to the supporters as a bonus. If the “challenge stake” is higher though, the supporters will have their stakes slashed and the challengers will be rewarded.\n\n\n\n![one more table .png](https://cdn.steemitimages.com/DQmSBw5DXmZW4TAEE5HQUEoUa79M3Ef5SZrqY2MXgKQpmgF/one%20more%20table%20.png)\nMostly taken from “Curated Governance with Stake Machines” by Dimitri De Jonghe [1].\n\n\nand here is how it should look like with memes:\n![Dank memes TCR 2.png](https://cdn.steemitimages.com/DQmSRqRHHvcuzWW2CJSxvT6LUSzq2fMrDH6wzpsBFdAtaRD/Dank%20memes%20TCR%202.png)\nMostly taken out of my head\n\n\nWith TCR it becomes quite possible to create a curated list of dank memes and to form a community, which will decide whether a meme is dank or not. Theoretically, in future, every subreddit or a public group in any of the social networks will be able to transform to a curated list of a sort. Right now the great posts in subreddits result in the additional reputation (karma) for the author of the post. After transforming into a token curated registry, the members of a subreddit will be able to stake their tokens to decide which content is viable for addition to the group and will be rewarded for that activity.\n\n__Conclusion:__\nBlockchain and tokenization may bring innovation in very unusual areas of human activity. One of such areas is memes. The bonding curves unlock the possibility of financial speculation on the popularity of a meme, this has a potentially huge market and may become viral due to its absurdity, unseriousness, and hilariousness. Such argument especially makes sense if we remember that the first viral dapp was cute kitties on blockchain.\n\nWith the concept of Token Curated Registries (TCR) it becomes possible to introduce betting and financially rewarding to the process of meme selection, which can potentially transform how the sites like 9gag and subreddits like Meme Economy work. Such communities consist of hundreds of thousands and even millions of users, that is why the adoption may be huge.\n\nI believe that meme tokenization has a high probability to come true. The viral popularity of memes, huge potentially addressable market and the similarities between memes’ popularity and financial markets’ price movements — are the main rationalities behind this idea. That is why I think it may worth keeping an eye on the development of meme-related markets.\n\nThe general purpose of the article was to introduce the reader to some of the ways blockchain can transform the world. Whether memes tokenization is a success or not, it is always a good idea to keep track of the possible ways innovations can develop.\n\nThe bonding curves and TCRs are interesting topics by themselves.\n\n\n__Just in in case you are now like:__\n\n![Fry_Shut_Up_And__4fedcced29f15_1024x1024.jpeg](https://cdn.steemitimages.com/DQmSXQNzsARdcxcjPrbLd59jkiDtuKaeBzQJLnHTUxrZeZT/Fry_Shut_Up_And__4fedcced29f15_1024x1024.jpeg)\n\n\n__The Meme Factory Project__\nIt is a district0x project that creates a TCR for dank memes. The users will be able to create a list of memes that they consider dank enough to be included in it.\n\nIf you would like to take part in the Meme Factory project, then you can visit their website and join district0x telegram to know more details. Right now they have a meme design competition (with rewards). Later, they will hold several rounds of community voting with DNT (a native token of district0x) and the participants, that staked their DNT tokens and voted will later be airdropped with the Meme Factory project tokens.\n\nAlso, you can check out the work of Simon de la Rouviere — a person, whose writings gave me the understanding of TCRs (hope that I got the concept right).\n\n![pepe_meme'd.jpg](https://cdn.steemitimages.com/DQmYh82YQM1PwQLBZ3E3AYPTwf72nrGumfiESxeo1uY2HTF/pepe_meme'd.jpg)\n\n------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------\n\nIf you liked the article feel free to follow me/discuss the topic/ask me questions. I do ICO analytics and write articles:\n\n__Twitter:__ https://twitter.com/IvKrll\n__Telegram announcement channel:__ https://t.me/sellthehype_ANN\n__ICO ratings spreadsheet:__ https://docs.google.com/spreadsheets/d/1so2z8k9N-6zdaAp5sXNPUWQ3t43YIZwqNijOLJv5xNU/edit#gid=2055786517\n\nIn case you want to support or tip me:\nBitcoin: 1KTmAWQ5cjKVjhVCjum73mKtWQqiSny5gu\nEthereum: 0xD3474BD2f558B12e83810EC7d8aF14f2d1D08137\nDoge: DEphBHAxTEr6aQUySErLxojPiCNozjgWbj\n\n__References:__\n1. The idea has been borrowed and customised from Dimitri De Jonghe, https://medium.com/@DimitriDeJonghe/curated-governance-with-stake-machines-8ae290a709b4 I don’t remember when I laughed so hard the last time.\n2. Meme Economy reddit https://www.reddit.com/r/MemeEconomy/\n3. Simon de la Rouviere “History Is Rhyming: Fitness Functions & Comparing Blockchain Tokens To The Web” https://medium.com/@simondlr/tokens-2-0-curved-token-bonding-in-curation-markets-1764a2e0bee5 https://hackernoon.com/history-is-rhyming-fitness-functions-comparing-blockchain-tokens-to-the-web-3c117239f4c\n4. Druzhko show https://www.youtube.com/channel/UCpbOjOjnLBXpi0AzruoJYIA/videos\n5. The Wolf of Meme Street https://www.youtube.com/watch?v=e25DsEwA5hk\n\n6. Simon de la Rouviere Tokens 2.0: Curved Token Bonding in Curation Markets https://medium.com/@simondlr/tokens-2-0-curved-token-bonding-in-curation-markets-1764a2e0bee5\n\n7. The Meme Factory Project. https://memefactory.io/",
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  "timestamp": "2018-06-30T08:38:21",
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      "body": "@@ -56,16 +56,18 @@\n  low? %0A%0A\n+%0A%0A\n Think ab\n@@ -412,16 +412,19 @@\n ough. %0A%0A\n+%0A%0A%0A\n 2.When t\n@@ -568,17 +568,16 @@\n kets?%0A%0A%0A\n-%0A\n It has e\n@@ -864,16 +864,17 @@\n eory. %0A%0A\n+%0A\n Good to \n",
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      "body": "@@ -1,16 +1,15 @@\n Hi!%0A%0A1\n-) \n+.\n Don't yo\n@@ -55,16 +55,17 @@\n g low? %0A\n+%0A\n Think ab\n@@ -415,10 +415,9 @@\n  %0A%0A2\n-) \n+.\n When\n@@ -562,16 +562,18 @@\n rkets?%0A%0A\n+%0A%0A\n It has e\n",
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      "body": "Hi!\n\n1) Don't you think that you are calling for selling low? \nThink about it.\nLast time I heard from you, you were calling for the second run = had the same herd mentality as the majority of the market. (don't mean to offend you, I was even worse, I was HOPING for the second wave).\n\nIn my opinion, the next stage in Bitcoin price should be the accumulation phase before the next bull run. Don't know when though. \n\n2) When the global uncertainty in the financial markets is on the rise, don't you think that Bitcoin can become a good hedge against all other markets?\n\nIt has exactly the right philosophy behind it. Screw bankers, politicians, debt and all other stuff. Also, it is perceived as a SoV. \nEven as it is a riskier asset, adding Bitcoin to a portfolio decreases the overall risk of the PORTFOLIO according to the Harry Max Markowitz portfolio theory. \n\nGood to have you back. Checked my youtube literally every morning. Don't watch other crypto youtubers.",
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      "body": "@@ -6019,53 +6019,71 @@\n rll%0A\n-Medium: https://medium.com/@kirillivanovich%0A%0A\n+%0AMy Telegram announcement channel: https://t.me/sellthehype_ANN\n %0A%0AIn\n",
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{
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      "author": "sellthehype",
      "body": "![The cover.png](https://steemitimages.com/DQmaAGNfvAcFow7MKUPoVyqKzLAFA8KjGyKVMTbqhkaCNBF/The%20cover.png)\n\nQuarkchain – is a permissionless blockchain platform that aims to solve the blockchain-scalability problem without sacrificing much of the security and decentralization dimensions.\n\nTo fully understand what Quarkchain tries to achieve, at first, we need to understand the Blockchain Trilemma problem. \n\n\n\nOn the picture below is represented The Blockchain Trilemma problem. There are three main properties of blockchains: Scalability, Security and Decentralization. The blockchain-platform space in the near and mid-term future is likely to be shared among several platforms that will offer various combinations of these three dimensions. The understanding of what combination of these main properties QuarkChain offers is crucial to figure out its future position in the space. \n\n![The Blockchain Trilemma.png](https://steemitimages.com/DQme8DRK2KfBBVRyZn3waALeiGFat48p7wHzRcEjZgp3qvi/The%20Blockchain%20Trilemma.png)\n\n\nThe main blockchain-platform up to date – Ethereum suffers from Scalability issues (low transaction throughput), because it tries to achieve the scalability without sacrificing the high security and decentralization properties. \n\nEthereum also chose sharding as a way to scale, however, in contrast to Quarkchain, to maintain the current high level of security Ethereum plans to implement Casper FFG (the transition from PoW to hybrid PoW/PoS) first and sharding later.\n\nQuarchain plans to remain fully PoW platform, which, on one hand, allows it to implement sharding faster than Ethereum, but on the other demands to significantly reduce the security of the network.\n\nThis happens due to that with the PoW algorithm miners don’t have anything to lose in case they commit an attack on the network. So, there are no disincentives for the bad behavior in the network and validators have nothing to lose for the malicious actions.\n\nIn PoS, on the other hand, if nodes undertake a bad action it is penalized by losing a part (or all) of its stake = it is punished. \n\n __So, in summary:__\n\n![Proof-of-Work-vs-Proof-of-Stake-Basic-Mining-Guide.png](https://steemitimages.com/DQmVd7waLL5dbsJTTMg1Gs9LoAUq3hUL9aN7gMNvJ47cazx/Proof-of-Work-vs-Proof-of-Stake-Basic-Mining-Guide.png)\n\nPoW = incentives for “good” actions in the network;\n\nPoS = incentives for “good” actions in the network + disincentives for “bad” actions.\n\nAs there is an addition of punishment in PoS, this algorithm is more secure.\n\n\n\n__Now, let’s have a look at the solution proposed by the QuarkChain team.__\n\n\n\nQuarkChain – is one more blockchain platform for Dapps with sharding as its main distinguishing feature. The team wants to build two-layer network. The first layer will be the root chain and the second layer will be shards. By transferring computations from the root chain to the unlimited number of shards Quarkchain will achieve higher transaction throughput. However, as we know from the Blockchain Trilemma, it is not that easy to just improve one of the blockchain dimensions. Solving of one problem often results in other tradeoff-problems. Thus, even after implying that Quarkchain can deliver the promised amount of transactions per second, it is crucially to assess how their solution affects the other two dimensions of their blockchain. \n\nThe hashing power is planned to be distributed in the following manner:\n\n\n* 50% of it will secure the root chain;\n\n* Another 50% of the overall hashing power will be distributed across all shards.\n(Although, these numbers are configurable)\n\n\nTherefore, to commit the 51% attack on the main chain the attacker will need 50% of hashing power of the ROOT CHAIN, which will be just 25% of the OVERALL hashpower of the network.\n\n51%*50% of the root chain = 25%\n\nIn another words, it will take only 25% of the miners to successfully attack the main chain. Which is twice as low as the number of miners needed for attack in Bitcoin and Ethereum networks. \n\n\n\n\n\nBesides, as QuarkChain team writes in their WP: “running a super-full node could be very expensive in a high-throughput blockchain system. For example, 1M TPS with each transaction being 250 bytes would require 2 GBps network bandwidth, which becomes a huge barrier to many users…the traffic would generate about 20 Terabytes data per day or 7 Perabytes data per year”. Obviously, it creates significant barriers for small-scale miners, as only the large and centralized parties can afford such powerful hardware (which is very sad for a network, where 51% attack possible with only 25% hashpower).\n\n ![System Architecture.png](https://steemitimages.com/DQmYzPGhyQFWNCHLBo3crZQPCJjDUSW36D4Lsk7d2XvaLje/System%20Architecture.png)\n\nHowever, the QuarkChain team is aware about these problems and proposes the following solutions:\n\n\n Regarding centralization - the small-scale miners will be able unite in a cluster and to super-full node collectively.\n\n![Clusters.png](https://steemitimages.com/DQmR2BjD2yHwBF37erbJCHAgooKosog8MdLSSnbofQWHWKN/Clusters.png)\n\nHowever, the large-scale miners with industrial-grade equipment will also be able to create such cluster, so I don’t really see much problem-solving here.\n\nIn addition, if we take into consideration the advantage, which large-scale ASIC manufacturers have, it becomes clear that PoW in 2018 - __is not a sustainable solution at all__. \n\nAs David Vorick from Sia points in his article \"The State of Cryptocurrency Mining\": \"It’s estimated that Monero’s secret ASICs made up more than 50% of the hashrate for almost a full year before discovery, and during that time, nobody noticed. During that time, a huge fraction of the Monero issuance was centralizing into the hands of a small group, and a 51% attack could have been executed at any time.\" [1] \n\n\n\nRegarding distribution of hashpower among shards – “We will be adopting a reward based incentivized mining structure where dynamic difficulty is adopted across shards. That way game theory concept comes in play and miners would be able to switch to shards that are providing better rewards.”\n\n\nWhich, also, won’t help much to prevent the capture of all shard's mining capacity,  in my opinion, because if a large-scale miner wants to overtake the majority of hashpower in a shard it can just mine it even with losses and force smaller-scale miners to migrate to shards with better rewards/lower difficulty. \n \n\nTechnology resume: I don’t see how QuarkChain will be able to deliver a network with the high amount of transactions  AND security/decentralization  in the long term.  \n\n__I want to add here, that I'm by NO MEANS a fully-competent technological expert and I urge you to continue exploring the technical aspects of this project on your own.__\n\n\n__Team:__\n\nThe founder has worked in Google, Dell and Facebook.\n\nThe senior software engineer has worked in Facebook, Instagram and Google. \n\nI would like to see more engineers in the team, but comparing to hundreds of other ICOs, I would say that this team is good.\n\n__Partners and investors:__\n\nNo institutional and famous partners listed on the QuarkChain website, which means, that, for some reason, market players with the ability to do extensive research decided that Quarkchain is not an attractive investment. \n\n\n__The usage of the token:__\n\nToken (QKC) is a “mode of payment and settlement”, which is not interesting and not very good in general. The only reason why in some future “rational” cryptocurrency space it can have a significant market cap is a “Store of Value” concept. However, in this field, the competitors of QuarkChain look more attractive. The EOS token gives you the right to participate in the network governance and in Ethereum, eventually, you will be able to stake your tokens and get passive income.\n\n\n\n         \n__Roadmap__\n\n![Roadmap.png](https://steemitimages.com/DQmYPPqc4ysLj6rU96VbW65vcZWjFa6GpeFLfkCGhYxFCRJ/Roadmap.png)\n\n“Q4 2018: Release QuarkChain Core 1.0, Mainnet 1.0, together with Smart Wallet 1.0. QuarkChain Core 1.0 will provide basic functionalities of the QuarkChain Network and basic optimization. There is a plan to launch the mainnet at the same time. “(Which means that they may delay the actual launch of their mainnet).\n\n“Q2 2019 Release QuarkChain Core 2.0, Mainner 2.0, together with Smart Wallet 2.0 QuarkChain Core 2.0 will further optimize QuarckChain core 1.0 and enable clustering feature so that a group of small scale nodes can form a cluster and run as a full node.” (which means the decreased security of their network up to this date).\n\nZilliqa – another blockchain project, which is going to have sharding, aims to launch its public mainnet in Q2, 2018 and to start deploying DApps in Q3, 2018. Which is definitely not good news for QuarkChain, because Zilliqa has some serious institutional backers and will have a sort of a first-mover advantage as a project with working sharding.\n\n__Other comments:__\n\nQuarkChain will use the EVM, which allows Dapps to easily migrate from Ethereum to QuarkChain. \n\nPoW – the support of miners. However, to get this support, the team will have to attract powerful and centralized pools, which will be like shooting in its own leg for a blockchain with such combination of the trilemma dimensions. \n\nThe finality time (as I understand) for the root chain is 150s, which much longer than in some other competing projects ( for example EOS), where the finality will be achieved in much less time.\n\n\n__The target for growth:__\n\nThe blockchain platforms are valued very high in the current market environment. The main competitor – Zilliqa has over $1billion capitalization.\nTherefore, QuarkChain has potential for 10-20x or even more.\n\n\n__The structure of the ICO:__\n\nHardcap of $20m.\n\n$16m sold on private-sale with “10% release each month for the frst 4 months and 20% release each month for the later 3 months (the token is available at the end of each month 10%,10%,10%,10%,20%,20%,20%”.\n\n4m for public sale with no lock-up.\n\nIt is very solid metrics for such project.\n\n\n\n__Hype and interest:__\nIt is enormous. \n\n![Hype.png](https://steemitimages.com/DQmSaKb4kyWd5CWghSt72EPDUFG5UgdqVGUg3Tc5sevSnot/Hype.png)\n\n\n__The conclusion:__\n\nEven though it is unclear how the QuarkChain team will attempt to solve the security problem of their network (and will they be able or not at all), the current state of cryptocurrency space, ICO metrics and the amount of hype make this project a must-have for the short and mid-term. \n\nEveryone, who gets into the public-sale will be extremely lucky because he or she will enjoy all benefits of the upward price movement + an instant liquidity.\n\n------------------------------------------------------------------------------------------------------------------------\n******************************************************************************************\n******************************************************************************************\n******************************************************************************************\n******************************************************************************************\nPlease, follow me on my Twitter, Steemit and Medium:\n\nTwitter: https://twitter.com/IvKrll\nMedium: https://medium.com/@kirillivanovich\n\n\nIn case you want to support or tip me:\n\nBitcoin: 1KTmAWQ5cjKVjhVCjum73mKtWQqiSny5gu\nEthereum: 0x1e7F481Ad51cb706f8DaDe68BB2e94CB651D4724\nDoge: DEphBHAxTEr6aQUySErLxojPiCNozjgWbj\n\n\n__Sources:__\n 1. David Vorick, The State of Cryptocurrency Mining. https://blog.sia.tech/the-state-of-cryptocurrency-mining-538004a37f9b",
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      "body": "**Coins mentioned in post:**\n\nCoin | | Price (USD) | 📉 24h | 📉 7d\n- | - | - | - | -\n**BTC** | Bitcoin | 8446.720$ | _-1.73%_ | _-9.58%_\n**EOS** | EOS | 14.112$ | _-2.91%_ | _-20.32%_\n**ETH** | Ethereum | 712.232$ | _2.05%_ | _-2.96%_\n**XMR** | Monero | 202.534$ | _-3.58%_ | _-10.27%_\n**ZIL** | Zilliqa | 0.166$ | _-6.92%_ | _31.13%_",
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      "body": "![The cover.png](https://steemitimages.com/DQmaAGNfvAcFow7MKUPoVyqKzLAFA8KjGyKVMTbqhkaCNBF/The%20cover.png)\n\nQuarkchain – is a permissionless blockchain platform that aims to solve the blockchain-scalability problem without sacrificing much of the security and decentralization dimensions.\n\nTo fully understand what Quarkchain tries to achieve, at first, we need to understand the Blockchain Trilemma problem. \n\n\n\nOn the picture below is represented The Blockchain Trilemma problem. There are three main properties of blockchains: Scalability, Security and Decentralization. The blockchain-platform space in the near and mid-term future is likely to be shared among several platforms that will offer various combinations of these three dimensions. The understanding of what combination of these main properties QuarkChain offers is crucial to figure out its future position in the space. \n\n![The Blockchain Trilemma.png](https://steemitimages.com/DQme8DRK2KfBBVRyZn3waALeiGFat48p7wHzRcEjZgp3qvi/The%20Blockchain%20Trilemma.png)\n\n\nThe main blockchain-platform up to date – Ethereum suffers from Scalability issues (low transaction throughput), because it tries to achieve the scalability without sacrificing the high security and decentralization properties. \n\nEthereum also chose sharding as a way to scale, however, in contrast to Quarkchain, to maintain the current high level of security Ethereum plans to implement Casper FFG (the transition from PoW to hybrid PoW/PoS) first and sharding later.\n\nQuarchain plans to remain fully PoW platform, which, on one hand, allows it to implement sharding faster than Ethereum, but on the other demands to significantly reduce the security of the network.\n\nThis happens due to that with the PoW algorithm miners don’t have anything to lose in case they commit an attack on the network. So, there are no disincentives for the bad behavior in the network and validators have nothing to lose for the malicious actions.\n\nIn PoS, on the other hand, if nodes undertake a bad action it is penalized by losing a part (or all) of its stake = it is punished. \n\n __So, in summary:__\n\n![Proof-of-Work-vs-Proof-of-Stake-Basic-Mining-Guide.png](https://steemitimages.com/DQmVd7waLL5dbsJTTMg1Gs9LoAUq3hUL9aN7gMNvJ47cazx/Proof-of-Work-vs-Proof-of-Stake-Basic-Mining-Guide.png)\n\nPoW = incentives for “good” actions in the network;\n\nPoS = incentives for “good” actions in the network + disincentives for “bad” actions.\n\nAs there is an addition of punishment in PoS, this algorithm is more secure.\n\n\n\n__Now, let’s have a look at the solution proposed by the QuarkChain team.__\n\n\n\nQuarkChain – is one more blockchain platform for Dapps with sharding as its main distinguishing feature. The team wants to build two-layer network. The first layer will be the root chain and the second layer will be shards. By transferring computations from the root chain to the unlimited number of shards Quarkchain will achieve higher transaction throughput. However, as we know from the Blockchain Trilemma, it is not that easy to just improve one of the blockchain dimensions. Solving of one problem often results in other tradeoff-problems. Thus, even after implying that Quarkchain can deliver the promised amount of transactions per second, it is crucially to assess how their solution affects the other two dimensions of their blockchain. \n\nThe hashing power is planned to be distributed in the following manner:\n\n\n* 50% of it will secure the root chain;\n\n* Another 50% of the overall hashing power will be distributed across all shards.\n(Although, these numbers are configurable)\n\n\nTherefore, to commit the 51% attack on the main chain the attacker will need 50% of hashing power of the ROOT CHAIN, which will be just 25% of the OVERALL hashpower of the network.\n\n51%*50% of the root chain = 25%\n\nIn another words, it will take only 25% of the miners to successfully attack the main chain. Which is twice as low as the number of miners needed for attack in Bitcoin and Ethereum networks. \n\n\n\n\n\nBesides, as QuarkChain team writes in their WP: “running a super-full node could be very expensive in a high-throughput blockchain system. For example, 1M TPS with each transaction being 250 bytes would require 2 GBps network bandwidth, which becomes a huge barrier to many users…the traffic would generate about 20 Terabytes data per day or 7 Perabytes data per year”. Obviously, it creates significant barriers for small-scale miners, as only the large and centralized parties can afford such powerful hardware (which is very sad for a network, where 51% attack possible with only 25% hashpower).\n\n ![System Architecture.png](https://steemitimages.com/DQmYzPGhyQFWNCHLBo3crZQPCJjDUSW36D4Lsk7d2XvaLje/System%20Architecture.png)\n\nHowever, the QuarkChain team is aware about these problems and proposes the following solutions:\n\n\n Regarding centralization - the small-scale miners will be able unite in a cluster and to super-full node collectively.\n\n![Clusters.png](https://steemitimages.com/DQmR2BjD2yHwBF37erbJCHAgooKosog8MdLSSnbofQWHWKN/Clusters.png)\n\nHowever, the large-scale miners with industrial-grade equipment will also be able to create such cluster, so I don’t really see much problem-solving here.\n\nIn addition, if we take into consideration the advantage, which large-scale ASIC manufacturers have, it becomes clear that PoW in 2018 - __is not a sustainable solution at all__. \n\nAs David Vorick from Sia points in his article \"The State of Cryptocurrency Mining\": \"It’s estimated that Monero’s secret ASICs made up more than 50% of the hashrate for almost a full year before discovery, and during that time, nobody noticed. During that time, a huge fraction of the Monero issuance was centralizing into the hands of a small group, and a 51% attack could have been executed at any time.\" [1] \n\n\n\nRegarding distribution of hashpower among shards – “We will be adopting a reward based incentivized mining structure where dynamic difficulty is adopted across shards. That way game theory concept comes in play and miners would be able to switch to shards that are providing better rewards.”\n\n\nWhich, also, won’t help much to prevent the capture of all shard's mining capacity,  in my opinion, because if a large-scale miner wants to overtake the majority of hashpower in a shard it can just mine it even with losses and force smaller-scale miners to migrate to shards with better rewards/lower difficulty. \n \n\nTechnology resume: I don’t see how QuarkChain will be able to deliver a network with the high amount of transactions  AND security/decentralization  in the long term.  \n\n__I want to add here, that I'm by NO MEANS a fully-competent technological expert and I urge you to continue exploring the technical aspects of this project on your own.__\n\n\n__Team:__\n\nThe founder has worked in Google, Dell and Facebook.\n\nThe senior software engineer has worked in Facebook, Instagram and Google. \n\nI would like to see more engineers in the team, but comparing to hundreds of other ICOs, I would say that this team is good.\n\n__Partners and investors:__\n\nNo institutional and famous partners listed on the QuarkChain website, which means, that, for some reason, market players with the ability to do extensive research decided that Quarkchain is not an attractive investment. \n\n\n__The usage of the token:__\n\nToken (QKC) is a “mode of payment and settlement”, which is not interesting and not very good in general. The only reason why in some future “rational” cryptocurrency space it can have a significant market cap is a “Store of Value” concept. However, in this field, the competitors of QuarkChain look more attractive. The EOS token gives you the right to participate in the network governance and in Ethereum, eventually, you will be able to stake your tokens and get passive income.\n\n\n\n         \n__Roadmap__\n\n![Roadmap.png](https://steemitimages.com/DQmYPPqc4ysLj6rU96VbW65vcZWjFa6GpeFLfkCGhYxFCRJ/Roadmap.png)\n\n“Q4 2018: Release QuarkChain Core 1.0, Mainnet 1.0, together with Smart Wallet 1.0. QuarkChain Core 1.0 will provide basic functionalities of the QuarkChain Network and basic optimization. There is a plan to launch the mainnet at the same time. “(Which means that they may delay the actual launch of their mainnet).\n\n“Q2 2019 Release QuarkChain Core 2.0, Mainner 2.0, together with Smart Wallet 2.0 QuarkChain Core 2.0 will further optimize QuarckChain core 1.0 and enable clustering feature so that a group of small scale nodes can form a cluster and run as a full node.” (which means the decreased security of their network up to this date).\n\nZilliqa – another blockchain project, which is going to have sharding, aims to launch its public mainnet in Q2, 2018 and to start deploying DApps in Q3, 2018. Which is definitely not good news for QuarkChain, because Zilliqa has some serious institutional backers and will have a sort of a first-mover advantage as a project with working sharding.\n\n__Other comments:__\n\nQuarkChain will use the EVM, which allows Dapps to easily migrate from Ethereum to QuarkChain. \n\nPoW – the support of miners. However, to get this support, the team will have to attract powerful and centralized pools, which will be like shooting in its own leg for a blockchain with such combination of the trilemma dimensions. \n\nThe finality time (as I understand) for the root chain is 150s, which much longer than in some other competing projects ( for example EOS), where the finality will be achieved in much less time.\n\n\n__The target for growth:__\n\nThe blockchain platforms are valued very high in the current market environment. The main competitor – Zilliqa has over $1billion capitalization.\nTherefore, QuarkChain has potential for 10-20x or even more.\n\n\n__The structure of the ICO:__\n\nHardcap of $20m.\n\n$16m sold on private-sale with “10% release each month for the frst 4 months and 20% release each month for the later 3 months (the token is available at the end of each month 10%,10%,10%,10%,20%,20%,20%”.\n\n4m for public sale with no lock-up.\n\nIt is very solid metrics for such project.\n\n\n\n__Hype and interest:__\nIt is enormous. \n\n![Hype.png](https://steemitimages.com/DQmSaKb4kyWd5CWghSt72EPDUFG5UgdqVGUg3Tc5sevSnot/Hype.png)\n\n\n__The conclusion:__\n\nEven though it is unclear how the QuarkChain team will attempt to solve the security problem of their network (and will they be able or not at all), the current state of cryptocurrency space, ICO metrics and the amount of hype make this project a must-have for the short and mid-term. \n\nEveryone, who gets into the public-sale will be extremely lucky because he or she will enjoy all benefits of the upward price movement + an instant liquidity.\n\n------------------------------------------------------------------------------------------------------------------------\n******************************************************************************************\n******************************************************************************************\n******************************************************************************************\n******************************************************************************************\nPlease, follow me on my Twitter, Steemit and Medium:\n\nTwitter: https://twitter.com/IvKrll\nMedium: https://medium.com/@kirillivanovich\n\n\nIn case you want to support or tip me:\n\nBitcoin: 1KTmAWQ5cjKVjhVCjum73mKtWQqiSny5gu\nEthereum: 0x1e7F481Ad51cb706f8DaDe68BB2e94CB651D4724\nDoge: DEphBHAxTEr6aQUySErLxojPiCNozjgWbj\n\n\n__Sources:__\n 1. David Vorick, The State of Cryptocurrency Mining. https://blog.sia.tech/the-state-of-cryptocurrency-mining-538004a37f9b",
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      "body": "Recently I have made an important decision in my life. I quit my job to start my own crypto-company with the friends of mine. Here is the motivational letter, which I wrote to one of them. He refused to join me, but I think that the letter itself may be interesting for some of you. It sums up my thoughts about the future, crypto and motivation in life.\n\nEnjoy!\n\n***, as I promised, I’m writing this to explain you my motivation about some of the decisions that I’m about to undertake in my life. I don’t expect you to change your opinion and don’t demand anything form you. This text is the summary of what I’m proposing to you, and it is made just for your convenience.\n\nI’m 25 and it feels like the life just going away from me. I haven’t done anything significant, which I can be proud of. However, at the end of the last summer , I rethought my plans for the future and painted a vision of being on the forefront of the next waves of technological innovation that about to happen in the upcoming years. The world is about to change many times, and the changes are the times of great opportunities. The technological innovation can give you everything you want: money — because it is related to the creation of immense new value, influence — because it destroys the incumbent structures and transforms the way people live and last but not the least — FUN, because who wouldn’t like to have some cool new freaking-flying car or a lucrative banking business in a VR world?\n\nAs I’m neither an engineer nor a scientist, I identified the most realistic entry point into the new technologies for my humble experience in economics and finance — blockchain and cryptocurrencies. I started in the end of September 2017 and have been in the space for six months already, and it has been absolutely amazing experience, ***. Theft, illegal trade, market manipulation, insider trading, masses of quick money idiots, bitcoin fanatics, dogecoin believers, ICO shillers, cryptokitties and about-to-eat-his-dick John McAfee. Absolutely amazing.\n\nI started with an extensive self-education, market observation, playing with small sums, reading articles, books, watching videos and talking to rare developers. Nothing particularly special and hard in my opinion. Two month ago I realized that the flow of information is far too strong for me to handle it alone. Thus, I decided to join professionals, who have been in the space for years. The reality deeply disappointed me. Most people in the crypto-fund industry in Russia (and I suspect in other places as well) are just the lucky winners born by the great bull market of 2017. With the coming of a bit of the bear market of 2018, nonsurprisingly, these cryptofunds go bankrupt or fall faster then the market. In addition to this, in our fund we cannot find decent specialists in crypto (for good money) and the analysis of ICOs, which was made by the friendly crypto fund with 10 people team and a year experience is almost identical to mine or worse.\n\nThe take away? Working for other companies in Russia cannot provide me with the better expertise than I can reach alone. They have money, but so do I. My *** inheritance is more than enough. They have “an insider access” the the deals? Nope. The Russian crypto funds are useless to the decent projects, as they cannot provide any value other than money. In addition, my friend in Singapore was able to find a way to invest our money through legal channels in some of the best ICOs.\n\nThe highs we can reach in the space are breathtaking. The cryptocurrencies are for modeling the socio-economic systems, which are international, open and exciting. Some of the platforms are going to implement their own CONSTITUTIONS, to have nodes that are effectively ‘politicians’, to create such new jobs as “crypto-judges” (people, who resolve issues with hacks and bugs) and to build new ways in what community can interact with them. \nNot impressed? Imagine what will be in 5 years\n\n, when cryptocurrencies become fully integrated with VR. The whole new WORLDS with their laws, politics and economics will emerge. And I’m definitely going to be a part of it.\n\nWhat is there most important, I don’t want to do it all alone. The single most valuable thing for people, according to a popular research, are relationships with other people. Any success in my life won’t be full without my friends and my family. Thus, I don’t want my company, I want OUR company. I need my friends to make big things happen because, as it turned out your are the most talented and enthusiastic people I have ever known and it is so much FUN to be with you. If such people like us join their efforts together the success is not the question, instead, WHEN is the right one. Eventually, we will do something absolutely amazing in this world.\n\nI’m quitting my job tomorrow. I will start the adventure. See you someday, my friend!\n\nMe and a friend of mine during our trip to China\n\n![Me and M.jpg](https://steemitimages.com/DQmVQAcP3bBjxX8FWv7Y46HRmeo87FePZLF3LMdnjzoCkJh/Me%20and%20M.jpg)",
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      "body": "Hello everyone! Today I want to share with you my thoughts on a thing that caught up my eye recently. \n\nThis thing is a presumably irresponsible behavior (or even scammy) of Credits  - a blockchain platform, which concluded the ICO and started trading at the beginning of March.\n\nThere are several red flags about this platform already. If you are not familiar with them I recommend you to watch this amazing video by Ivan on Tech - one of the most competent crypto-youtubers in my opinion (the link to the video is at the end of the post). \n\n__In short, it says that the Credits' team is technical amateurs.__\n\nSo, what can I add to this?\n\nSome days ago I was browsing a local Russian jobs website and found this interesting post about ICO trader-analytic vacancy\n\n![Объявление.png](https://steemitimages.com/DQmeXhfD9dfHfYCDuc5Ag1HhzCJNKQHtgtmCPHnJgNhWhWy/%D0%9E%D0%B1%D1%8A%D1%8F%D0%B2%D0%BB%D0%B5%D0%BD%D0%B8%D0%B5.png)\n\nIt is all in Russian, I know, but if you translate it, you will know that Credits is looking for a person, who will trade and invest \"mid-long term\" for them.\n\nNothing bad you will say? In my opinion, it is not the right behavior, when you are a non-financial project, which aims to deliver a platform with stunning millions of transactions per second! (which also has not yet been able to prove its technical competence).\n\nAnd with what money, I wonder? You may say that their founders have their own tokens and need just the right person to consult them about the right time for selling them. However, according to their presentation \"Founders token will be frozen for a year\". So, again, with what money? I don't have an answer for this other than \"with yours, dear early contributors, with yours\".\n\nI have contacted their admins on Telegram and asked for clarification.  24 hours have passed but still haven't got a promised \"response from the team\". Some people in the chat said that Credits needs a person for market making, which was stated in their Whitepaper, however, for me, it is not convincing still. \n\n__This is what I think about the situation. My personal opinion. I urge you to do your own research and to come to your own opinions.__\nIf you can educate me on how exactly they will utilize a trader/ICO analitic in their next-big-blockchain project, I will be happy to hear you out.\n\nP.S. I'm a bit sick and very busy these days, so the Dogecoin fundamental analysis is coming the next week! Stay tuned :P\n\nMy Twitter: https://twitter.com/IvKrll\nMedium: https://medium.com/@kirillivanovich\n\nIn case you want to support or tip me:\n\nBitcoin: 1KTmAWQ5cjKVjhVCjum73mKtWQqiSny5gu\nEthereum: 0x1e7F481Ad51cb706f8DaDe68BB2e94CB651D4724\nDoge: DEphBHAxTEr6aQUySErLxojPiCNozjgWbj\n\n__Links:__\nIvan on Tech about Credits https://www.youtube.com/watch?v=FPKbbrt4P0s\n\nThe vacancy:  https://hh.ru/vacancy/24848610?query=ico%20%D0%B0%D0%BD%D0%B0%D0%BB%D0%B8%D1%82%D0%B8%D0%BA",
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      "author": "sellthehype",
      "body": "I have been active in crypto since September 2017 and this time was enough to make me give up almost any notions about people's rationality in this space. What I have seen was pure behavioral finance filled with __FOMO, FUD, colourful marketing campaigns__ generating tens of millions of dollars and humans behaving more like monkeys than intelligent or innovative investors. I think it is time to try to bring some rationality into investing in crypto and especially in ICOs. Cannot say that I'm a super-duper professional to do this 100% right (still just a big irrational monkey) but I want at least to try. \n\nIt goes from my heart, so let's see where we will come. \n\n![AAEAAQAAAAAAAAyJAAAAJDE3YjQxZjFiLWI5NWEtNDIwNy05NDc0LWY0MjBlNGFmNGQ0OQ.png](https://steemitimages.com/DQmdVHhVFceJSVKQoh2Ux6u2tZf6jY3UXaRYKEatHST7F3M/AAEAAQAAAAAAAAyJAAAAJDE3YjQxZjFiLWI5NWEtNDIwNy05NDc0LWY0MjBlNGFmNGQ0OQ.png)\n\nThe number 1 issue I want to address is __Tokenomics__.\n\n\n__Definition__\n\nIt is an ecosystem built around a utility token, participating which users can get certain benefits, rewards or get punished.\n\nIn other words, users obtain a utility token and utilize it in a number of ways in order to achieve a certain outcome, which, when iterated many times, results in forming of persistent behavioral patterns. \nAll about incentivizing people for a particular behavior.\n__This is tokenomics__. \n\n![ICO Юдина и партнёров.png](https://steemitimages.com/DQmP8Cq5E5cCqp324CcSkQWQPp8a7q5VN2EwPACRU4MXoyg/ICO%20%D0%AE%D0%B4%D0%B8%D0%BD%D0%B0%20%D0%B8%20%D0%BF%D0%B0%D1%80%D1%82%D0%BD%D1%91%D1%80%D0%BE%D0%B2.png)\n \n\n\n__Why is this so important for crypto?__\n\nBecause no matter how great and successful the business idea, the team, advisors, the implementation of a project are, if there is no sound token utility, in the long term the value of the project's token will go down. If you buy tokens and instantly want to use the product - it's fine. But if you buy it as an investment and hope that you will sell it after the price increases (I'm sure >90% people do exactly this) BEWARE as you don't buy shares of the company, which give you a portion of profits, you don't buy bonds, which give you fixed income, you buy a UTILITY TOKEN, which is supposed to be used in the project's ecosystem and if it is not, there will be no demand other than speculation, which is unstable and shaky.\n\n__What is the scope of the problem?__\n\nWell, “A recent article from Bloomberg reported that of 226 ICOs and token sales analyzed, only 20 of the corresponding tokens were actually used in the running of their networks, demonstrating utility of some sort – that’s less than 10 percent” [1]. \n\n\nMoreover, just demand is not enough for increasing the value of the token. Let's say we are in the demand/supply equilibrium. If someone buys tokens for $100 just to instantly use the product, he or she takes them out of supply only for a short period of time. Because what will the company do after it receives tokens for its service and cannot use it in any way other than purchasing its own products? It sells them, returning tokens back into supply, and thus pushing the price back down = no price increase for investors.\n\n![image020.png](https://steemitimages.com/DQmeCgxx865MDq2etKC7qEK8jdXtrskgSMQQbBNpv8zyX9E/image020.png) \n\n\n__What to do if you are a long-term investor then?__\n\nLook for developed tokenomics (ways of using the tokens), which in one or another way __incentivize to HODL__ tokens.\n\nWhy hold? Because, in this case, if somebody buys $100 of tokens he or she will take them out of supply. Thus, the next buyer will have to set higher price to incentivize holders become sellers. However, the stronger stimulus to hold is, the higher the new price needs to be.\n\nHow to create such stimulus? To provide token holders with benefits and rewards for holding the tokens. Some __examples__ are:\n\n1) A company can offer even more tokens for holding of tokens. \n2) Discounts based on the number/time of tokens holding\n3) Rights or additional benefits depending on the time/number of tokens\n\nThere can be many combinations and additions to the above. The blockchain and crypto are such innovative things because they allow not only the possibility of reducing middlemen but also, they allow to create new and unique tokenomics ecosystems, which can completely change the way companies interact with their customers. In a business model with a sound token ecosystem, user experience goes beyond just consumption of the product and involves him or her into the further interaction with the platform. \n\nAnd of course, for the investors it would mean that with the increasing number of users, who hold, the token price goes higher and higher, compensating early supporters for their faith and patience.\n\n__If you are a long-term investor, look for the incentives to hold.__\n\n\nHope that you have found my thoughts useful in any way.\n\n“If you are not willing to own *crypto* for 10 years, don’t even think about owning it for 10 minutes.” - *Crypto* Warren Buffet \n\n![short-term-vs-long-term (1).png](https://steemitimages.com/DQmQDfjhj2DhHLdtNAYjWyUkemprcQxASE4B2JfkpMyzBpM/short-term-vs-long-term%20(1).png)\n\n------------------------------------------------------------------------------------------------------------------------\n******************************************************************************************\n******************************************************************************************\n******************************************************************************************\n******************************************************************************************\n\n\nI’m just starting to write such short articles, so feel free to leave your opinions and feedback in the comments. I will be happy to hear it out!\n\nThe next article will, probably, be __about fundamentals of Dogecoin __ . Don’t hurry to write it off as a childish topic, it is more interesting then you think! \n\n\nMy Twitter: https://twitter.com/IvKrll\nMedium: https://medium.com/@kirillivanovich\n\n\n\nIn case you want to support or tip me:\n\nBitcoin: 1KTmAWQ5cjKVjhVCjum73mKtWQqiSny5gu\nEthereum: 0x1e7F481Ad51cb706f8DaDe68BB2e94CB651D4724\nDoge: DEphBHAxTEr6aQUySErLxojPiCNozjgWbj\n\n\n__Sources:__\n1.\thttps://www.bloomberg.com/news/articles/2017-10-23/only-one-in-10-tokens-is-in-use-following-initial-coin-offerings",
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      "body": "Welcome to Steemit my Russian brother.Greetings from Serbia. На здоровье.Or in Serbian- Живели.",
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      "body": "**Here is my 1st upvote to you, follow me for more upvotes and funny videos!!**\n\n**I upvote every decent comment on my videos!!**\n\n![DQmaAZhyJr7Hc8c2Qy55nYJyKrDESUEbPkK6jAEhDDNEN1X_1680x8400.jpg](https://steemitimages.com/DQmUaQxvAZmVBBmPj9MMi6QX3V6R4Ha2uqP1pxkcRZ1d33V/DQmaAZhyJr7Hc8c2Qy55nYJyKrDESUEbPkK6jAEhDDNEN1X_1680x8400.jpg)",
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      "author": "joebrochin",
      "body": "Welcome to Steemit. There is a lot of posts about crypto here, but I am sure you can carve out your niche.",
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      "author": "grampa-coin",
      "body": "Following -- I would love to hear about ICOs in Russia from your perspective! And a hearty welcome to the platform 8 )",
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      "author": "lopezdacruz",
      "body": "welcome sellthehype! Im looking forward to read your posts :D",
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