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@techtribe

25

Technical scribe who was a former market intelligence analyst in the IT industry

steemit.com/@techtribe
VOTING POWER100.00%
DOWNVOTE POWER100.00%
RESOURCE CREDITS100.00%
REPUTATION PROGRESS0.00%
Net Worth
0.054USD
STEEM
0.000STEEM
SBD
0.037SBD
Effective Power
5.001SP
├── Own SP
0.652SP
└── Incoming Deleg
+4.349SP

Detailed Balance

STEEM
balance
0.000STEEM
market_balance
0.000STEEM
savings_balance
0.000STEEM
reward_steem_balance
0.000STEEM
STEEM POWER
Own SP
0.652SP
Delegated Out
0.000SP
Delegation In
4.349SP
Effective Power
5.001SP
Reward SP (pending)
0.008SP
SBD
sbd_balance
0.015SBD
sbd_conversions
0.000SBD
sbd_market_balance
0.000SBD
savings_sbd_balance
0.000SBD
reward_sbd_balance
0.022SBD
{
  "balance": "0.000 STEEM",
  "savings_balance": "0.000 STEEM",
  "reward_steem_balance": "0.000 STEEM",
  "vesting_shares": "1061.176325 VESTS",
  "delegated_vesting_shares": "0.000000 VESTS",
  "received_vesting_shares": "7082.483481 VESTS",
  "sbd_balance": "0.015 SBD",
  "savings_sbd_balance": "0.000 SBD",
  "reward_sbd_balance": "0.022 SBD",
  "conversions": []
}

Account Info

nametechtribe
id370220
rank1,425,952
reputation513658892
created2017-09-14T15:42:39
recovery_accountsteem
proxyNone
post_count15
comment_count0
lifetime_vote_count0
witnesses_voted_for0
last_post2018-04-19T08:00:39
last_root_post2018-04-19T08:00:39
last_vote_time2018-04-19T08:00:39
proxied_vsf_votes0, 0, 0, 0
can_vote1
voting_power0
delayed_votes0
balance0.000 STEEM
savings_balance0.000 STEEM
sbd_balance0.015 SBD
savings_sbd_balance0.000 SBD
vesting_shares1061.176325 VESTS
delegated_vesting_shares0.000000 VESTS
received_vesting_shares7082.483481 VESTS
reward_vesting_balance16.296160 VESTS
vesting_balance0.000 STEEM
vesting_withdraw_rate0.000000 VESTS
next_vesting_withdrawal1969-12-31T23:59:59
withdrawn0
to_withdraw0
withdraw_routes0
savings_withdraw_requests0
last_account_recovery1970-01-01T00:00:00
reset_accountnull
last_owner_update1970-01-01T00:00:00
last_account_update2018-03-07T03:31:09
minedNo
sbd_seconds0
sbd_last_interest_payment1970-01-01T00:00:00
savings_sbd_last_interest_payment1970-01-01T00:00:00
{
  "active": {
    "account_auths": [],
    "key_auths": [
      [
        "STM6J71b1Z9dFzfFPGW5WnftdzYU6i3in5UieJn83krJuyZqdcjM7",
        1
      ]
    ],
    "weight_threshold": 1
  },
  "balance": "0.000 STEEM",
  "can_vote": true,
  "comment_count": 0,
  "created": "2017-09-14T15:42:39",
  "curation_rewards": 0,
  "delegated_vesting_shares": "0.000000 VESTS",
  "downvote_manabar": {
    "current_mana": 2035914951,
    "last_update_time": 1779088527
  },
  "guest_bloggers": [],
  "id": 370220,
  "json_metadata": "{\"profile\":{\"cover_image\":\"https://dotmobility.files.wordpress.com/2017/09/scooter1.jpg\",\"name\":\"benard quek\",\"about\":\"Technical scribe who was a former market intelligence analyst in the IT industry \",\"location\":\"Asia\",\"website\":\"http://benard.strikingly.com\",\"profile_image\":\"https://dotmobility.files.wordpress.com/2017/09/red1.jpg\"}}",
  "last_account_recovery": "1970-01-01T00:00:00",
  "last_account_update": "2018-03-07T03:31:09",
  "last_owner_update": "1970-01-01T00:00:00",
  "last_post": "2018-04-19T08:00:39",
  "last_root_post": "2018-04-19T08:00:39",
  "last_vote_time": "2018-04-19T08:00:39",
  "lifetime_vote_count": 0,
  "market_history": [],
  "memo_key": "STM8AR95Hmiz38HDNVHHB15JSy7Puzm3wkBrSQkmY3qh54c9Q84GH",
  "mined": false,
  "name": "techtribe",
  "next_vesting_withdrawal": "1969-12-31T23:59:59",
  "other_history": [],
  "owner": {
    "account_auths": [],
    "key_auths": [
      [
        "STM5zXy2FsMgomB7MhJCkcA5Mv4wxgaeA4qzSN5c1sV4f11QjMHDw",
        1
      ]
    ],
    "weight_threshold": 1
  },
  "pending_claimed_accounts": 0,
  "post_bandwidth": 0,
  "post_count": 15,
  "post_history": [],
  "posting": {
    "account_auths": [],
    "key_auths": [
      [
        "STM51driP2Gx3LEAm2YtnsEjWt7tu2QunQ3SniD4kZiXus6oQ2dmQ",
        1
      ]
    ],
    "weight_threshold": 1
  },
  "posting_json_metadata": "{\"profile\":{\"cover_image\":\"https://dotmobility.files.wordpress.com/2017/09/scooter1.jpg\",\"name\":\"benard quek\",\"about\":\"Technical scribe who was a former market intelligence analyst in the IT industry \",\"location\":\"Asia\",\"website\":\"http://benard.strikingly.com\",\"profile_image\":\"https://dotmobility.files.wordpress.com/2017/09/red1.jpg\"}}",
  "posting_rewards": 44,
  "proxied_vsf_votes": [
    0,
    0,
    0,
    0
  ],
  "proxy": "",
  "received_vesting_shares": "7082.483481 VESTS",
  "recovery_account": "steem",
  "reputation": 513658892,
  "reset_account": "null",
  "reward_sbd_balance": "0.022 SBD",
  "reward_steem_balance": "0.000 STEEM",
  "reward_vesting_balance": "16.296160 VESTS",
  "reward_vesting_steem": "0.008 STEEM",
  "savings_balance": "0.000 STEEM",
  "savings_sbd_balance": "0.000 SBD",
  "savings_sbd_last_interest_payment": "1970-01-01T00:00:00",
  "savings_sbd_seconds": "0",
  "savings_sbd_seconds_last_update": "1970-01-01T00:00:00",
  "savings_withdraw_requests": 0,
  "sbd_balance": "0.015 SBD",
  "sbd_last_interest_payment": "1970-01-01T00:00:00",
  "sbd_seconds": "0",
  "sbd_seconds_last_update": "2017-12-20T12:00:18",
  "tags_usage": [],
  "to_withdraw": 0,
  "transfer_history": [],
  "vesting_balance": "0.000 STEEM",
  "vesting_shares": "1061.176325 VESTS",
  "vesting_withdraw_rate": "0.000000 VESTS",
  "vote_history": [],
  "voting_manabar": {
    "current_mana": "8143659806",
    "last_update_time": 1779088527
  },
  "voting_power": 0,
  "withdraw_routes": 0,
  "withdrawn": 0,
  "witness_votes": [],
  "witnesses_voted_for": 0,
  "rank": 1425952
}

Withdraw Routes

IncomingOutgoing
Empty
Empty
{
  "incoming": [],
  "outgoing": []
}
From Date
To Date
steemdelegated 4.349 SP to @techtribe
2026/05/18 07:15:27
delegateetechtribe
delegatorsteem
vesting shares7082.483481 VESTS
Transaction InfoBlock #106151819/Trx 3046d565f17c1e65054eda5cd1f7a0dcc822241d
View Raw JSON Data
{
  "block": 106151819,
  "op": [
    "delegate_vesting_shares",
    {
      "delegatee": "techtribe",
      "delegator": "steem",
      "vesting_shares": "7082.483481 VESTS"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2026-05-18T07:15:27",
  "trx_id": "3046d565f17c1e65054eda5cd1f7a0dcc822241d",
  "trx_in_block": 4,
  "virtual_op": 0
}
steemdelegated 2.684 SP to @techtribe
2026/05/13 08:18:21
delegateetechtribe
delegatorsteem
vesting shares4370.273076 VESTS
Transaction InfoBlock #106009790/Trx a0a0c7d76ed0c7646d9d62ec3af411c788845cfb
View Raw JSON Data
{
  "block": 106009790,
  "op": [
    "delegate_vesting_shares",
    {
      "delegatee": "techtribe",
      "delegator": "steem",
      "vesting_shares": "4370.273076 VESTS"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2026-05-13T08:18:21",
  "trx_id": "a0a0c7d76ed0c7646d9d62ec3af411c788845cfb",
  "trx_in_block": 0,
  "virtual_op": 0
}
steemdelegated 4.357 SP to @techtribe
2026/04/26 06:25:57
delegateetechtribe
delegatorsteem
vesting shares7094.999237 VESTS
Transaction InfoBlock #105519277/Trx 3e9b646c13c544ca4c36976602a8183c59feffb1
View Raw JSON Data
{
  "block": 105519277,
  "op": [
    "delegate_vesting_shares",
    {
      "delegatee": "techtribe",
      "delegator": "steem",
      "vesting_shares": "7094.999237 VESTS"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2026-04-26T06:25:57",
  "trx_id": "3e9b646c13c544ca4c36976602a8183c59feffb1",
  "trx_in_block": 0,
  "virtual_op": 0
}
steemdelegated 2.709 SP to @techtribe
2026/01/24 02:39:42
delegateetechtribe
delegatorsteem
vesting shares4411.819895 VESTS
Transaction InfoBlock #102874396/Trx 2f11023af55b4e7c05db1aca7bc9a1cbd7470191
View Raw JSON Data
{
  "block": 102874396,
  "op": [
    "delegate_vesting_shares",
    {
      "delegatee": "techtribe",
      "delegator": "steem",
      "vesting_shares": "4411.819895 VESTS"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2026-01-24T02:39:42",
  "trx_id": "2f11023af55b4e7c05db1aca7bc9a1cbd7470191",
  "trx_in_block": 2,
  "virtual_op": 0
}
steemdelegated 2.810 SP to @techtribe
2024/12/17 21:48:30
delegateetechtribe
delegatorsteem
vesting shares4576.039092 VESTS
Transaction InfoBlock #91320592/Trx c934c9625e81b3e11c54e183490461441d2ee0d0
View Raw JSON Data
{
  "block": 91320592,
  "op": [
    "delegate_vesting_shares",
    {
      "delegatee": "techtribe",
      "delegator": "steem",
      "vesting_shares": "4576.039092 VESTS"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2024-12-17T21:48:30",
  "trx_id": "c934c9625e81b3e11c54e183490461441d2ee0d0",
  "trx_in_block": 11,
  "virtual_op": 0
}
steemdelegated 2.914 SP to @techtribe
2023/11/14 13:27:42
delegateetechtribe
delegatorsteem
vesting shares4745.172624 VESTS
Transaction InfoBlock #79874697/Trx 2ec7e3d98aad4de901e72a64b119758d3014189c
View Raw JSON Data
{
  "block": 79874697,
  "op": [
    "delegate_vesting_shares",
    {
      "delegatee": "techtribe",
      "delegator": "steem",
      "vesting_shares": "4745.172624 VESTS"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2023-11-14T13:27:42",
  "trx_id": "2ec7e3d98aad4de901e72a64b119758d3014189c",
  "trx_in_block": 6,
  "virtual_op": 0
}
steemdelegated 4.718 SP to @techtribe
2023/09/22 11:32:33
delegateetechtribe
delegatorsteem
vesting shares7682.081410 VESTS
Transaction InfoBlock #78364241/Trx af57a37d74fa9b2d199e02ab8a7a638e6121a80e
View Raw JSON Data
{
  "block": 78364241,
  "op": [
    "delegate_vesting_shares",
    {
      "delegatee": "techtribe",
      "delegator": "steem",
      "vesting_shares": "7682.081410 VESTS"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2023-09-22T11:32:33",
  "trx_id": "af57a37d74fa9b2d199e02ab8a7a638e6121a80e",
  "trx_in_block": 1,
  "virtual_op": 0
}
steemdelegated 4.854 SP to @techtribe
2022/11/03 18:51:51
delegateetechtribe
delegatorsteem
vesting shares7904.132848 VESTS
Transaction InfoBlock #69121813/Trx aa84950886909e191f0d7491e6642366f549db70
View Raw JSON Data
{
  "block": 69121813,
  "op": [
    "delegate_vesting_shares",
    {
      "delegatee": "techtribe",
      "delegator": "steem",
      "vesting_shares": "7904.132848 VESTS"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2022-11-03T18:51:51",
  "trx_id": "aa84950886909e191f0d7491e6642366f549db70",
  "trx_in_block": 2,
  "virtual_op": 0
}
steemdelegated 4.989 SP to @techtribe
2022/01/17 23:57:45
delegateetechtribe
delegatorsteem
vesting shares8124.240449 VESTS
Transaction InfoBlock #60824945/Trx 00ecb5a6adc2334000a523aba38431e5687c060b
View Raw JSON Data
{
  "block": 60824945,
  "op": [
    "delegate_vesting_shares",
    {
      "delegatee": "techtribe",
      "delegator": "steem",
      "vesting_shares": "8124.240449 VESTS"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2022-01-17T23:57:45",
  "trx_id": "00ecb5a6adc2334000a523aba38431e5687c060b",
  "trx_in_block": 22,
  "virtual_op": 0
}
steemdelegated 5.102 SP to @techtribe
2021/06/14 07:06:12
delegateetechtribe
delegatorsteem
vesting shares8308.434737 VESTS
Transaction InfoBlock #54615214/Trx b40472858181f92f24bc6a11c49fb81e26f1871e
View Raw JSON Data
{
  "block": 54615214,
  "op": [
    "delegate_vesting_shares",
    {
      "delegatee": "techtribe",
      "delegator": "steem",
      "vesting_shares": "8308.434737 VESTS"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2021-06-14T07:06:12",
  "trx_id": "b40472858181f92f24bc6a11c49fb81e26f1871e",
  "trx_in_block": 4,
  "virtual_op": 0
}
steemdelegated 5.217 SP to @techtribe
2020/12/11 17:17:42
delegateetechtribe
delegatorsteem
vesting shares8495.856711 VESTS
Transaction InfoBlock #49362452/Trx 774f898db76a085b42dddcc328266caf2ae12dd8
View Raw JSON Data
{
  "block": 49362452,
  "op": [
    "delegate_vesting_shares",
    {
      "delegatee": "techtribe",
      "delegator": "steem",
      "vesting_shares": "8495.856711 VESTS"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2020-12-11T17:17:42",
  "trx_id": "774f898db76a085b42dddcc328266caf2ae12dd8",
  "trx_in_block": 0,
  "virtual_op": 0
}
steemdelegated 1.175 SP to @techtribe
2020/12/06 10:53:00
delegateetechtribe
delegatorsteem
vesting shares1912.543513 VESTS
Transaction InfoBlock #49213963/Trx 6a8fb0ecbed34232a712e5a9f09ad97b23e46157
View Raw JSON Data
{
  "block": 49213963,
  "op": [
    "delegate_vesting_shares",
    {
      "delegatee": "techtribe",
      "delegator": "steem",
      "vesting_shares": "1912.543513 VESTS"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2020-12-06T10:53:00",
  "trx_id": "6a8fb0ecbed34232a712e5a9f09ad97b23e46157",
  "trx_in_block": 1,
  "virtual_op": 0
}
steemdelegated 5.221 SP to @techtribe
2020/12/05 20:55:33
delegateetechtribe
delegatorsteem
vesting shares8502.064565 VESTS
Transaction InfoBlock #49197535/Trx 434e39767d56b5578a3cbd03aeacc523e914be72
View Raw JSON Data
{
  "block": 49197535,
  "op": [
    "delegate_vesting_shares",
    {
      "delegatee": "techtribe",
      "delegator": "steem",
      "vesting_shares": "8502.064565 VESTS"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2020-12-05T20:55:33",
  "trx_id": "434e39767d56b5578a3cbd03aeacc523e914be72",
  "trx_in_block": 0,
  "virtual_op": 0
}
steemdelegated 1.179 SP to @techtribe
2020/11/03 04:28:00
delegateetechtribe
delegatorsteem
vesting shares1920.017158 VESTS
Transaction InfoBlock #48272903/Trx e01367718b149e61c5f481a73158c25efee3476a
View Raw JSON Data
{
  "block": 48272903,
  "op": [
    "delegate_vesting_shares",
    {
      "delegatee": "techtribe",
      "delegator": "steem",
      "vesting_shares": "1920.017158 VESTS"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2020-11-03T04:28:00",
  "trx_id": "e01367718b149e61c5f481a73158c25efee3476a",
  "trx_in_block": 8,
  "virtual_op": 0
}
steemdelegated 5.346 SP to @techtribe
2020/05/09 11:56:57
delegateetechtribe
delegatorsteem
vesting shares8704.869924 VESTS
Transaction InfoBlock #43224307/Trx 6c1b2effac9462ccee8b6ec533f63928bcab907c
View Raw JSON Data
{
  "block": 43224307,
  "op": [
    "delegate_vesting_shares",
    {
      "delegatee": "techtribe",
      "delegator": "steem",
      "vesting_shares": "8704.869924 VESTS"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2020-05-09T11:56:57",
  "trx_id": "6c1b2effac9462ccee8b6ec533f63928bcab907c",
  "trx_in_block": 6,
  "virtual_op": 0
}
steemdelegated 1.200 SP to @techtribe
2020/05/08 16:28:45
delegateetechtribe
delegatorsteem
vesting shares1953.311140 VESTS
Transaction InfoBlock #43201499/Trx dd5cfb26120377b1e24db3e2cd7f9567c6dcccba
View Raw JSON Data
{
  "block": 43201499,
  "op": [
    "delegate_vesting_shares",
    {
      "delegatee": "techtribe",
      "delegator": "steem",
      "vesting_shares": "1953.311140 VESTS"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2020-05-08T16:28:45",
  "trx_id": "dd5cfb26120377b1e24db3e2cd7f9567c6dcccba",
  "trx_in_block": 11,
  "virtual_op": 0
}
2019/09/14 17:07:09
authorsteemitboard
bodyCongratulations @techtribe! You received a personal award! <table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@techtribe/birthday2.png</td><td>Happy Birthday! - You are on the Steem blockchain for 2 years!</td></tr></table> <sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@techtribe) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=techtribe)_</sub> ###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!
json metadata{"image":["https://steemitboard.com/img/notify.png"]}
parent authortechtribe
parent permlinksec-cracks-down-on-crypto-exchanges
permlinksteemitboard-notify-techtribe-20190914t170709000z
title
Transaction InfoBlock #36419737/Trx 09b4d8679803e99b6adbeaa8806461b0fc48986a
View Raw JSON Data
{
  "block": 36419737,
  "op": [
    "comment",
    {
      "author": "steemitboard",
      "body": "Congratulations @techtribe! You received a personal award!\n\n<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@techtribe/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/@techtribe) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=techtribe)_</sub>\n\n\n###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!",
      "json_metadata": "{\"image\":[\"https://steemitboard.com/img/notify.png\"]}",
      "parent_author": "techtribe",
      "parent_permlink": "sec-cracks-down-on-crypto-exchanges",
      "permlink": "steemitboard-notify-techtribe-20190914t170709000z",
      "title": ""
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2019-09-14T17:07:09",
  "trx_id": "09b4d8679803e99b6adbeaa8806461b0fc48986a",
  "trx_in_block": 15,
  "virtual_op": 0
}
steemdelegated 5.454 SP to @techtribe
2019/07/08 13:21:30
delegateetechtribe
delegatorsteem
vesting shares8880.386551 VESTS
Transaction InfoBlock #34483238/Trx 21fa97d45e814426138bd8015127fdcba58d6909
View Raw JSON Data
{
  "block": 34483238,
  "op": [
    "delegate_vesting_shares",
    {
      "delegatee": "techtribe",
      "delegator": "steem",
      "vesting_shares": "8880.386551 VESTS"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2019-07-08T13:21:30",
  "trx_id": "21fa97d45e814426138bd8015127fdcba58d6909",
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2018/09/13 12:25:42
authorcryptoaddict007
bodyI dont know but crypto exchanges are a gift to all of us. Me personally been using a lot of centralized exchanges like binance and especially kucoin. And now they are about to celebrate their anniversary. Saw it on reddit... https://old.reddit.com/r/kucoin/comments/9f798l/kucoins_anniversary_3_days_away/?st=jlz48of7&sh=8dd7322b
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steemdelegated 5.576 SP to @techtribe
2018/07/19 10:06:06
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steemdelegated 18.069 SP to @techtribe
2018/06/10 07:41:24
delegateetechtribe
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techtribereceived 0.022 SBD, 0.010 SP author reward for @techtribe / sec-cracks-down-on-crypto-exchanges
2018/04/26 08:00:39
authortechtribe
permlinksec-cracks-down-on-crypto-exchanges
sbd payout0.022 SBD
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2018/04/22 14:17:15
authorcrystalarts
bodyMy article on regulation within crypto and ICOS -https://steemit.com/crypto/@crystalarts/regulation-of-cryptocurrencies
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2018/04/22 14:16:51
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2018/04/19 16:24:21
authortechtribe
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2018/04/19 08:05:00
authorandhovesyan
bodyI think decetralized exchanges will solve this problems in the near future, goverment must realize that they can't control crypto.
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2018/04/19 08:02:27
authortechtribe
permlinksec-cracks-down-on-crypto-exchanges
voterflysky
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2018/04/19 08:01:12
authorbullah
bodyHey guys got some exclusive news i just won 3 ETH. Their is an 5000 ETH Giveaway going on. if you want to participate than visit their site for giveaway at: http://eth-giveaway.live
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2018/04/19 08:00:39
authortechtribe
permlinksec-cracks-down-on-crypto-exchanges
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2018/04/19 08:00:39
authortechtribe
body![btc.jpg](https://steemitimages.com/DQmYmWtkzUh4ouYiJPVaDV94dPPUPUHA5HHaP7zbyM69wnD/btc.jpg) 2018 will be a rocky year for Crypto Exchanges in America due to the [SEC](http://www.newsweek.com/us-crypto-crackdown-begins-new-york-attorney-general-probing-major-bitcoin-890719?utm_source=quora) cracking down. This is a serious blow to the Crypto space as this will affect the following:- <h3>ICOs listing on American Crypto Exchanges will face have to face the SEC</h3> This applies to all ICOs currently listing their tokens on American exchanges and this can be a real bummer. As the SEC breathes down on ICOs which are security type tokens, they will have to delist and list them elsewhere. <h3>Trading Data will be Exposed</h3> Everyone and anyone who trades on an American exchange will be AML vetted by having their profiles exposed to the US government. This means you can't use a John Doe avatar to trade, you need to be verified if you are a American citizen or resident. And even then, you will have you trading data exposed and should the SEC deem it fit, your bank accounts can be frozen on suspicions of money laundering. <h3> Limits will be put on your trading account </h3> We all know that you need to move money in and out of exchanges with a KYC verified accounts so if you don't have one yet, your trading volume on a daily basis can be limited by unifying all the trades done in American Crypto Exchanges to just US$20K to US$50K. What's more, American Crypto exchanges offer the best matches for buyers and sellers. So not having access to this volume will ensure that you might not get the best rates for your buy or sell trades on crypto. <h3>No more Anonymity when selling Crypto Assets</h3> Every trade will have to made traceable under the SEC. This also means that when you sell of buy, you will face the wrath of the American government should you not pay taxes like capital gains. Only Non-resident foreigners who trade on American crypto exchanges do not pay any capital gains taxes. Think for a moment when the SEC finds out that you have multiple exchange accounts in the US and you haven't reported any capital gains during your trades. I hate to think that you will be charged with tax fraud. <h2>2018 will be a turbulent Year for Crypto</h2> By this I mean regulations. It will not be in the same volatility as in 2017 where people made millions base on their holdings of crypto currencies. We are looking at a more subdued market and not one where we see the highs in BTC and ETH. You must not forget that the main demand for Crypto is by businesses who need them. This includes businesses that cannot open bank accounts like in the case of in the case of the legal [cannabis](https://www.cnbc.com/2017/12/15/bitcoin-offers-the-cannabis-industry-an-alternative-to-banks.html) sector but the real demand is from ICOs who use them as currency. ICOs depend on crypto exchanges to create a vibrant demand for their tokens. If this is going to be under the preview of the SEC, we can be assured that ICOs who do not want to have their bank accounts closed by the American government will have to comply with transparency regulations. And there is no way you can comply if you have structured your token as a security. This will impact how crypto exchanges will be structured once they legally operate in the US. If an exchange like Coinbase carries on as usual without complying to SEC demands, they will have their bank accounts frozen. They will not be able to remit cash to customers. This inherently will affect the convertibility of tokens and virtual currencies into fiat currency and when that happens, do you seriously think people will be putting in money in this?
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permlinksec-cracks-down-on-crypto-exchanges
titleSEC cracks down on Crypto Exchanges
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      "body": "![btc.jpg](https://steemitimages.com/DQmYmWtkzUh4ouYiJPVaDV94dPPUPUHA5HHaP7zbyM69wnD/btc.jpg)\n\n2018 will be a rocky year for Crypto Exchanges in America due to the [SEC](http://www.newsweek.com/us-crypto-crackdown-begins-new-york-attorney-general-probing-major-bitcoin-890719?utm_source=quora) cracking down.\n\nThis is a serious blow to the Crypto space as this will affect the following:-\n\n<h3>ICOs listing on American Crypto Exchanges will face have to face the SEC</h3>\n\nThis applies to all ICOs currently listing their tokens on American exchanges and this can be a real bummer. As the SEC breathes down on ICOs which are security type tokens, they will have to delist and list them elsewhere. \n\n<h3>Trading Data will be Exposed</h3>\n\nEveryone and anyone who trades on an American exchange will be AML vetted by having their profiles exposed to the US government. This means you can't use a John Doe avatar to trade, you need to be verified if you are a American citizen or resident. And even then, you will have you trading data exposed and should the SEC deem it fit, your bank accounts can be frozen on suspicions of money laundering. \n\n<h3> Limits will be put on your trading account </h3>\n\nWe all know that you need to move money in and out of exchanges with a KYC verified accounts so if you don't have one yet, your trading volume on a daily basis can be limited by unifying all the trades done in American Crypto Exchanges to just US$20K to US$50K. What's more, American Crypto exchanges offer the best matches for buyers and sellers. So not having access to this volume will ensure that you might not get the best rates for your buy or sell trades on crypto. \n\n<h3>No more Anonymity when selling Crypto Assets</h3>\n\nEvery trade will have to made traceable under the SEC. This also means that when you sell of buy, you will face the wrath of the American government should you not pay taxes like capital gains. Only Non-resident foreigners who trade on American crypto exchanges do not pay any capital gains taxes. \n\nThink for a moment when the SEC finds out that you have multiple exchange accounts in the US and you haven't reported any capital gains during your trades. I hate to think that you will be charged with tax fraud. \n\n\n<h2>2018 will be a turbulent Year for Crypto</h2>\n\nBy this I mean regulations. It will not be in the same volatility as in 2017 where people made millions base on their holdings of crypto currencies. We are looking at a more subdued market and not one where we see the highs in BTC and ETH. \n\nYou must not forget that the main demand for Crypto is by businesses who need them. This includes businesses that cannot open bank accounts like in the case of in the case of the legal [cannabis](https://www.cnbc.com/2017/12/15/bitcoin-offers-the-cannabis-industry-an-alternative-to-banks.html) sector but the real demand is from ICOs who use them as currency. \n\nICOs depend on crypto exchanges to create a vibrant demand for their tokens. If this is going to be under the preview of the SEC, we can be assured that ICOs who do not want to have their bank accounts closed by the American government will have to comply with transparency regulations. And there is no way you can comply if you have structured your token as a security. \n\nThis will impact how crypto exchanges will be structured once they legally operate in the US. If an exchange like Coinbase carries on as usual without complying to SEC demands, they will have their bank accounts frozen. They will not be able to remit cash to customers. \n\nThis inherently will affect the convertibility of tokens and virtual currencies into fiat currency and when that happens, do you seriously think people will be putting in money in this?",
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2018/04/19 05:39:27
authorrussia-insider
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2018/03/23 14:01:54
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2018/03/17 08:38:24
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2018/03/17 08:38:24
authortechtribe
body![Lisk-LSK.jpg](https://steemitimages.com/DQmXj2SkX1NgSy2f6wbA3yjcn3LQcqjL2ZSCTMuagtLY8ev/Lisk-LSK.jpg) There are several Ethereum like blockchain platforms and of late, some have been trying to identify which to bet on. For me, Lisk seems to be a darling of sorts but it's near term upsurge has brought up many questions. I have been pointing out that if someone wants to invest in a crypto, why go in with XRP when you have Lisk. After all, Lisk has more upside potential since it is a public blockchain with real world applications just like Ethereum. Lisk is a fork of Crypti, and from the looks of it, Lisk will grow in the future while Crypti is dying. I won't go into the [history](https://www.coingecko.com/buzz/lisk-ecosystem-and-currency?locale=en) of Lisk as there is little to gain from learning this. ![lisk.jpeg](https://steemitimages.com/DQmej7tHmP1a4AP8SoX1j3sC9JvYKmo2Q5B9Cb83u72p61p/lisk.jpeg) As you can see, the price has surged this year and from the looks of it, Lisk as a crypto has hit a high of US$35 and now it is sliding downwards to the mid teens and this means, it is a good time to buy. Should Lisk go up to into US$20+, then it is time to sell. For it to achieve the goal of surpassing US$35 isn't impossible but bear in mind that Ethereum's price in March '18 has been falling and that also means less people are gravitating towards a newbie blockchain like Lisk. The only way Lisk will go up will depend on several factors and these related to the following:- *Ethereum's price goes up, Lisk will track a similar growth path *Lisk gets more trading pairs with global fiat currencies *Lisk Debit card gets launched *Crypto [Exchanges](https://www.coingecko.com/en/coins/lisk/trading_exchanges) around the world start to add Lisk moree trading pair with other crypto currencies. *ICOs move to list their projects on Lisk platform Lisk has a lot of promise as a competitor to Ethereum even when the founders of Lisk may have said otherwise. The ability to sidechain data blocks is perhaps the biggest advantage but real world applications need to be developed to prove this theory. Right now, ICOs continue to put their worth on Ethereum for many reasons, the chief being that Ether is highly convertible. I don't see why this cannot be done on Lisk but most ICOs these days are attracted to the speculative nature of crypto currencies as well as it's smart contract applications. Just because you have a better blockchain doesn't mean you will win the game in the long run. For me, Lisk has a promising future in the medium to long term and if you are one of those who are investing instead of speculating, Lisk will be a worthwhile investment.
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permlinkwhy-lisk-isn-t-going-up-the-roof-in-value
titleWhy Lisk isn't going up the roof in value
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      "body": "![Lisk-LSK.jpg](https://steemitimages.com/DQmXj2SkX1NgSy2f6wbA3yjcn3LQcqjL2ZSCTMuagtLY8ev/Lisk-LSK.jpg)\n\nThere are several Ethereum like blockchain platforms and of late, some have been trying to identify which to bet on. For me, Lisk seems to be a darling of sorts but it's near term upsurge has brought up many questions. \n\nI have been pointing out that if someone wants to invest in a crypto, why go in with XRP when you have Lisk. After all, Lisk has more upside potential since it is a public blockchain with real world applications just like Ethereum.\n\nLisk is a fork of Crypti, and from the looks of it, Lisk will grow in the future while Crypti is dying. I won't go into the [history](https://www.coingecko.com/buzz/lisk-ecosystem-and-currency?locale=en) of Lisk as there is little to gain from learning this. \n\n![lisk.jpeg](https://steemitimages.com/DQmej7tHmP1a4AP8SoX1j3sC9JvYKmo2Q5B9Cb83u72p61p/lisk.jpeg)\n\nAs you can see, the price has surged this year and from the looks of it, Lisk as a crypto has hit a high of US$35 and now it is sliding downwards to the mid teens and this means, it is a good time to buy. \n\nShould Lisk go up to into US$20+, then it is time to sell. For it to achieve the goal of surpassing US$35 isn't impossible but bear in mind that Ethereum's price in March '18 has been falling and that also means less people are gravitating towards a newbie blockchain like Lisk.\n\nThe only way Lisk will go up will depend on several factors and these related to the following:-\n\n*Ethereum's price goes up, Lisk will track a similar growth path\n*Lisk gets more trading pairs with global fiat currencies\n*Lisk Debit card gets launched\n*Crypto [Exchanges](https://www.coingecko.com/en/coins/lisk/trading_exchanges) around the world start to add Lisk moree trading pair with other crypto currencies.\n*ICOs move to list their projects on Lisk platform\n\nLisk has a lot of promise as a competitor to Ethereum even when the founders of Lisk may have said otherwise. \n\nThe ability to sidechain data blocks is perhaps the biggest advantage but real world applications need to be developed to prove this theory. Right now, ICOs continue to put their worth on Ethereum for many reasons, the chief being that Ether is highly convertible. \n\nI don't see why this cannot be done on Lisk but most ICOs these days are attracted to the speculative nature of crypto currencies as well as it's smart contract applications. Just because you have a better blockchain doesn't mean you will win the game in the long run. \n\nFor me, Lisk has a promising future in the medium to long term and if you are one of those who are investing instead of speculating, Lisk will be a worthwhile investment.",
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2018/03/11 02:05:27
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2018/03/11 02:05:27
authortechtribe
body![Screen-Shot-2017-06-12-at-10.25.56-AM.png](https://steemitimages.com/DQmP8VXRyYQy7SyptyZ8zfuFLS5dfFu5bGuTbUZkncVvup9/Screen-Shot-2017-06-12-at-10.25.56-AM.png) Often in Reddit or Quora, you will come across heaps of questions on whether someone should invest in an ICO or if it is a scam. Now ICOs can still fail if mismanagement happens, just like in Startups, IPOs and even democratically elected governments. So we won't got into detail on this but focus on weighing in on how to judge an ICO's worth. So here are three simple rules to assess the value of an ICO. <h3>ICOs should have a niche business that will generate Revenue</h3> This should answer the question should the ICO be a type of security or utility. Just ask yourself... *Does it disrupt a business model in a particular industry?* Folks, never invest in a ICO when you are unfamiliar with the industry it is in. This is how a scam happens. ICO will weave a tale of woe telling you that they have the technology or know how to disrupt the current way business is done. When you do not know that industry well enough, how could you commit a load of Bitcoins to their cause? These are the most common questions found on Quora and it shows your lack of knowledge on investment. The Whitepaper says it all. If you read my teardown blogs on the gaming industry ICOs, you'd know that I have had experience in them to know that these ICOs are just pure BS. Another type of scammy ICOs have nothing to show for but loads of promises when they get your tokens. Would you buy a token to a Ferrari car rental when they don't own any Ferraris? My sentiments exactly. Even if you are not totally familiar with the business the ICO pretends to be in, you should of course ask someone with knowledge of the industry before going all in. Once you know the industry well, then you can make a sound investment decision. Many ICOs want to disrupt the way business is currently conducted but they haven't the faintest idea how. They might have a plan but that doesn't mean the plan will work. ICOs with little to show for will brag about their team and beg you for money to change the world. The business model of an ICO should always be niche, that it will generate income. If that doesn't seem to be their modus operandi, where else do you think they will be getting their revenue from to pay for it all? <h3>An ICO should have verifiable collaterals</h3> When you have an ICO with a dubious team and no real collateral, would you invest in it? When I say dubious, I mean people with no social media profiles and dead end links to their companies. In the age of the Internet, people cannot NOT have a profile on Linkedin or Facebook unless you lived all your life in China. ICOs must have some sort of collateral to bring to your attention. In the case of [LightCash](https://lightcash.io/) they are backed by the Lapri Gold Mining company. This is what I mean by a collateral. Now move to the next step. Verify the collateral mentioned on the site. A cursory search on the Lapri Gold mining company will turn out with nothing. It is unverifiable. So here you have a backing company with NO historical data on google search. Would you invest in such an entity? Collateral of any kind should be verifiable at least on the Internet. An ICO should have an audit trail instead of just a few mentions on websites. So when an ICO states its collateral credentials, you must be able to verify some of it on the Internet. Should the collateral be only in the form of a technology, software or hardware, then it should be proven in the real world first before it can be an asset. I hate ICOs that promise to develop the technology upon getting the money. We have seen loads of failures on Kickstarter and Indiegogo after getting millions in funding. What makes you think an ICO is any different? <h3>Badly written White Papers are clues to a Scam</h3> There are boring white papers and lengthy ones which may consist of more BS than facts but the first clue to a bad white paper is one that bores the shit out of you with a sales pitch and no substance. Yes, I hate a sales pitch. I want the details on how the ICO is going to disrupt the current business. The sales pitch should be in the Website where they sell you their dream. The White paper is the reality of the business model so if the sales pitch is still in there, it will sound like they are selling snake oil. The White paper is for you to judge their business model. You need this to make an investment decision and many so called ICO investors want to skip the details and go right into when the ICO tokens will be listed on the exchange so that they can sell and make money out of it. This is extremely foolish. But hey, it's your money and if you like investing that way, why bother with the White paper. Please take my money. <h3>Returns on your Investments are clearly stated</h3> How do you return value to your investors? In the beginning, many ICOs were structured as securities. So there will be a buy back or dividends paid at a certain term. When an ICO promises much but doesn't clearly state how they will return some value to the investor, then why would you invest in it? In the real world, companies return value by dividends or stock buy backs from the market. ICOs should be judged on the same criteria. These days, having ICOs structured as securities will pose a big problem unless you are listing in countries that have clearly defined laws on ICOs. This means ICOs have to find other ways to return profit to the investor. How do they do this? This is where ICOs have to use their creative license to find ways to do this instead of making wild suggestions on a buy back when they are profitable. This is where tokens can be structured as a utility token instead of a security token. You should know how and when the token is convertible to a service or product when the time arise and how that is perceived as value. If the same service or product can be bought via fiat then the ICO token has little value. The value has to be in the form of a discount or fixed price mechanism where you enjoy some privilege. The problem with this concept is that most Securities Commissions around the world could take it to mean a profit of some sort and slap the ICO with a cease and desist [order](https://www.coindesk.com/new-jersey-slams-celebrity-endorsed-bitcoiin-ico-with-cease-and-desist/) for securities violations. How an ICO works in the long run will depend on how profit can be distributed legally. Why would you even give money to an entity which doesn't return value to the investor? <h3>Conclusion: There is an ICO born every minute</h3> Didn't they say the same about 'suckers'? For ICOs, there is no fallback mechanism when it fails to deliver. For a listed company, you could take it to court but ICOs don't fall into that category unless the ICO is registered to operate in a country that has ICO laws. There is no avenue to protect your investment in an ICO if they are legally not recogized as a business entity. This is where it is very important to recognize where the ICO is operating from. All ICOs have to register themselves as a business entity and operate with a bank account. ICOs may not pay staff benefits or have maternity expenses but they will need to hire people to work with them and the last I checked, I don't think being paid only in Ether or Bitcoin was part of their contract. You can invest a handful of Ether in an ICO you like but like in gambling, you should also be prepared to lose everything you have invested due to the risky nature of ICOs. With that in mind, I hope you use your sound judgement when investing in ICOs instead of asking strangers on Quora.
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permlinkhow-to-assess-the-value-of-an-ico
titleHow to assess the value of an ICO
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      "body": "![Screen-Shot-2017-06-12-at-10.25.56-AM.png](https://steemitimages.com/DQmP8VXRyYQy7SyptyZ8zfuFLS5dfFu5bGuTbUZkncVvup9/Screen-Shot-2017-06-12-at-10.25.56-AM.png)\n\nOften in Reddit or Quora, you will come across heaps of questions on whether someone should invest in an ICO or if it is a scam. Now ICOs can still fail if mismanagement happens, just like in Startups, IPOs and even democratically elected governments. So we won't got into detail on this but focus on weighing in on how to judge an ICO's worth. \n\nSo here are three simple rules to assess the value of an ICO. \n\n<h3>ICOs should have a niche business that will generate Revenue</h3>\n\nThis should answer the question should the ICO be a type of security or utility. Just ask yourself...\n\n*Does it disrupt a business model in a particular industry?*\n\nFolks, never invest in a ICO when you are unfamiliar with the industry it is in. This is how a scam happens. ICO will weave a tale of woe telling you that they have the technology or know how to disrupt the current way business is done. When you do not know that industry well enough, how could you commit a load of Bitcoins to their cause? \n\nThese are the most common questions found on Quora and it shows your lack of knowledge on investment. \n\nThe Whitepaper says it all. If you read my teardown blogs on the gaming industry ICOs, you'd know that I have had experience in them to know that these ICOs are just pure BS. Another type of scammy ICOs have nothing to show for but loads of promises when they get your tokens. \n\nWould you buy a token to a Ferrari car rental when they don't own any Ferraris? \n\nMy sentiments exactly. \n\nEven if you are not totally familiar with the business the ICO pretends to be in, you should of course ask someone with knowledge of the industry before going all in.\n\nOnce you know the industry well, then you can make a sound investment decision. Many ICOs want to disrupt the way business is currently conducted but they haven't the faintest idea how. They might have a plan but that doesn't mean the plan will work. \n\nICOs with little to show for will brag about their team and beg you for money to change the world. The business model of an ICO should always be niche, that it will generate income. If that doesn't seem to be their modus operandi, where else do you think they will be getting their revenue from to pay for it all?\n\n<h3>An ICO should have verifiable collaterals</h3>\n\nWhen you have an ICO with a dubious team and no real collateral, would you invest in it? When I say dubious, I mean people with no social media profiles and dead end links to their companies. In the age of the Internet, people cannot NOT have a profile on Linkedin or Facebook unless you lived all your life in China. \n\nICOs must have some sort of collateral to bring to your attention. In the case of [LightCash](https://lightcash.io/) they are backed by the Lapri Gold Mining company. This is what I mean by a collateral. Now move to the next step. Verify the collateral mentioned on the site.  A cursory search on the Lapri Gold mining company will turn out with nothing. It is unverifiable.  So here you have a backing company with NO historical data on google search. Would you invest in such an entity? \n\nCollateral of any kind should be verifiable at least on the Internet. An ICO should have an audit trail instead of just a few mentions on websites. So when an ICO states its collateral credentials, you must be able to verify some of it on the Internet. \n\nShould the collateral be only in the form of a technology, software or hardware, then it should be proven in the real world first before it can be an asset. I hate ICOs that promise to develop the technology upon getting the money. We have seen loads of failures on Kickstarter and Indiegogo after getting millions in funding. What makes you think an ICO is any different?\n\n<h3>Badly written White Papers are clues to a Scam</h3>\n\nThere are boring white papers and lengthy ones which may consist of more BS than facts but the first clue to a bad white paper is one that bores the shit out of you with a sales pitch and no substance. \n\nYes, I hate a sales pitch. I want the details on how the ICO is going to disrupt the current business. The sales pitch should be in the Website where they sell you their dream. The White paper is the reality of the business model so if the sales pitch is still in there, it will sound like they are selling snake oil. \n\nThe White paper is for you to judge their business model. You need this to make an investment decision and many so called ICO investors want to skip the details and go right into when the ICO tokens will be listed on the exchange so that they can sell and make money out of it. This is extremely foolish. But hey, it's your money and if you like investing that way, why bother with the White paper. Please take my money. \n\n<h3>Returns on your Investments are clearly stated</h3>\n\nHow do you return value to your investors? In the beginning, many ICOs were structured as securities. So there will be a buy back or dividends paid at a certain term. When an ICO promises much but doesn't clearly state how they will return some value to the investor, then why would you invest in it? In the real world, companies return value by dividends or stock buy backs from the market. ICOs should be judged on the same criteria. \n\nThese days, having ICOs structured as securities will pose a big problem unless you are listing in countries that have clearly defined laws on ICOs. This means ICOs have to find other ways to return profit to the investor. \n\nHow do they do this? This is where ICOs have to use their creative license to find ways to do this instead of making wild suggestions on a buy back when they are profitable. \n\nThis is where tokens can be structured as a utility token instead of a security token. You should know how and when the token is convertible to a service or product when the time arise and how that is perceived as value. If the same service or product can be bought via fiat then the ICO token has little value. The value has to be in the form of a discount or fixed price mechanism where you enjoy some privilege. The problem with this concept is that most Securities Commissions around the world could take it to mean a profit of some sort and slap the ICO with a cease and desist [order](https://www.coindesk.com/new-jersey-slams-celebrity-endorsed-bitcoiin-ico-with-cease-and-desist/) for securities violations. \n\nHow an ICO works in the long run will depend on how profit can be distributed legally. Why would you even give money to an entity which doesn't return value to the investor?\n\n<h3>Conclusion: There is an ICO born every minute</h3>\n\nDidn't they say the same about 'suckers'? \n\nFor ICOs, there is no fallback mechanism when it fails to deliver. For a listed company, you could take it to court but ICOs don't fall into that category unless the ICO is registered to operate in a country that has ICO laws. There is no avenue to protect your investment in an ICO if they are legally not recogized as a business entity. \n\nThis is where it is very important to recognize where the ICO is operating from. \n\nAll ICOs have to register themselves as a business entity and operate with a bank account. ICOs may not pay staff benefits or have maternity expenses but they will need to hire people to work with them and the last I checked, I don't think being paid only in Ether or Bitcoin was part of their contract. \n\nYou can invest a handful of Ether in an ICO you like but like in gambling, you should also be prepared to lose everything you have invested due to the risky nature of ICOs. \n\nWith that in mind, I hope you use your sound judgement when investing in ICOs instead of asking strangers on Quora.",
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2018/03/10 13:13:30
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2018/03/10 04:51:24
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2018/03/10 04:51:09
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body**Coins mentioned in post:** Coin | | Price (USD) | 📈 24h | 📉 7d - | - | - | - | - **BTC** | Bitcoin | 9387.510$ | _6.1%_ | _-16.83%_ **ETH** | Ethereum | 738.694$ | _10.32%_ | _-14.39%_ **LTC** | Litecoin | 189.744$ | _15.15%_ | _-11.46%_ **XRP** | Ripple | 0.851$ | _9.7%_ | _-6.79%_
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2018/03/10 02:39:57
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2018/03/10 02:39:09
authorcorea
bodyhttps://walletcoin.money/?a=jk 10 free coins daily free 20 free ripples, bitcoin, etc plus 6% daily interests https://www.mannabase.com/?ref=efa053bae1 Mannabase Universal Basic Income for Life
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2018/03/10 02:38:42
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2018/03/10 02:38:42
authortechtribe
body![ripple coin.png](https://steemitimages.com/DQmdm8GeA6RhLVQwH6ooBnXvAxrrH8SsJArQ9HwBAyfvg3g/ripple%20coin.png) Folks, you should all stop the wishful thinking that you have spotted a crypto coin that no one has taken notice of and will be the next BTC that will make you lots of money. Period. XRP, which some folks call Ripple coin, is a by-product that was invented for bank to bank forex settlements. The underlying technology, called [Ripple Connect](https://wiki.ripple.com/Ripple_Connect), was designed from the ground up to challenge [SWIFT](https://en.wikipedia.org/wiki/Society_for_Worldwide_Interbank_Financial_Telecommunication). For those of you who are old enough to remember, SWIFT had it big in the 80s. It was a club for banks to send money to one another. One of the problems of sending forex from one country to another is how do you settle in a currency of choice? Here is the problem. Let's say that Bill Gates has a Bank called the Bank of Gates and they receive an order to send some Chinese Yuan to Beijing. To do this, Bank of Gates would have to send a little man with a bag full of cash to the Bank of China in Beijing but in reality, it doesn't. They send an IOU note to the Bank of China. At the other end, the Bank of China may need to send some USD to Washington, and they send an IOU note to the Bank of Gates. At the end of the week, the two banks has to settle their IOUs, and if the Bank of China owes a lot more USD to the Bank of Gates, it would have to find another way to find that cash, which in this case, would be it's HK branch. Bank of Gates will gladly accept HKD so why not get the HK office to square off the debt? SWIFT is basically a system to which banks can transfer money overseas by not physically having the currency. I am simplifying the process so that you can understand how it works and there are caveats on how this settlement works but won't go into detail. So this is what Ripple Connect is able to do in a secure and faster way through block-chaining the entire remittance system. <h3> XRP isn't Crypto</h3> XRP has been mistakenly credited recently in the [Saudi adoption](https://www.reuters.com/article/us-saudi-cenbank-currency/saudi-arabias-central-bank-signs-blockchain-deal-with-ripple-idUSKCN1FZ0LD) of Ripple Connect technology. People dumb enough to speculate think that XRP is going mainstream. Well folks, its not going to happen. XRP isn't being used though it could be adopted by the Saudis in the future but you need a crystal ball to see that. For the most part, many assume that XRP will be the most traded crypto after BTC. This is a myth. If you aren't already aware, SWIFT has been busy fixing its broken system with a new [blockchain project](https://cointelegraph.com/news/swifts-blockchain-pilot-for-bank-to-bank-transfers-went-extremely-well). It hopes to convince current users of SWIFT to avoid adopting Ripple Connect. XRP is tradable in a number of [exchanges](https://ripple.com/xrp/buy-xrp/) but the convertibility is somewhat limited as there isn't a debit card that is denominated in XRP as yet. Sure there are plenty of rumours that one will surface but we have yet to see that happen. XRP isn't going to be the next BTC, LTC or ETH. Many speculators out there like the low entry price of XRP and want to hedge on this to make some money. You could make some money out of this if you buy low (below USD1 buck) but you would be a fool to buy it any higher. Ripple Connect seems to be the darling of the Fintech space but not XRP. One of the underlying reasons for XRP's relatively slow and poor adoption is that Banks do not want to deal with a digital asset that is convertible. How do you walk into any bank with a thumbdrive full of XRP and exchange that for fiat currency? The glimmer of hope remains if XRP goes full monty, with all banks accepting it as a form of currency where it is convertible on the spot into your bank account. But the next big step is for a XRP based debit card. You need this to solidify its existence. Until that happens, I won't be touching this with a ten foot pole.
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      "body": "![ripple coin.png](https://steemitimages.com/DQmdm8GeA6RhLVQwH6ooBnXvAxrrH8SsJArQ9HwBAyfvg3g/ripple%20coin.png)\n\nFolks, you should all stop the wishful thinking that you have spotted a crypto coin that no one has taken notice of and will be the next BTC that will make you lots of money. Period. \n\nXRP, which some folks call Ripple coin, is a by-product that was invented for bank to bank forex settlements. The underlying technology, called [Ripple Connect](https://wiki.ripple.com/Ripple_Connect), was designed from the ground up to challenge [SWIFT](https://en.wikipedia.org/wiki/Society_for_Worldwide_Interbank_Financial_Telecommunication).\n\nFor those of you who are old enough to remember, SWIFT had it big in the 80s. It was a club for banks to send money to one another. \n\nOne of the problems of sending forex from one country to another is how do you settle in a currency of choice? Here is the problem. Let's say that Bill Gates has a Bank called the Bank of Gates and they receive an order to send some Chinese Yuan to Beijing. To do this, Bank of Gates would have to send a little man with a bag full of cash to the Bank of China in Beijing but in reality, it doesn't. They send an IOU note to the Bank of China. At the other end, the Bank of China may need to send some USD to Washington, and they send an IOU note to the Bank of Gates. \n\nAt the end of the week, the two banks has to settle their IOUs, and if the Bank of China owes a lot more USD to the Bank of Gates, it would have to find another way to find that cash, which in this case, would be it's HK branch. Bank of Gates will gladly accept HKD so why not get the HK office to square off the debt? \n\nSWIFT is basically a system to which banks can transfer money overseas by not physically having the currency. I am simplifying the process so that you can understand how it works and there are caveats on how this settlement works but won't go into detail. \n\nSo this is what Ripple Connect is able to do in a secure and faster way through block-chaining the entire remittance system. \n\n<h3> XRP isn't Crypto</h3>\n\nXRP has been mistakenly credited recently in the [Saudi adoption](https://www.reuters.com/article/us-saudi-cenbank-currency/saudi-arabias-central-bank-signs-blockchain-deal-with-ripple-idUSKCN1FZ0LD) of Ripple Connect technology. \n\nPeople dumb enough to speculate think that XRP is going mainstream. Well folks, its not going to happen. \n\nXRP isn't being used though it could be adopted by the Saudis in the future but you need a crystal ball to see that. For the most part, many assume that XRP will be the most traded crypto after BTC. This is a myth. \n\nIf you aren't already aware, SWIFT has been busy fixing its broken system with a new [blockchain project](https://cointelegraph.com/news/swifts-blockchain-pilot-for-bank-to-bank-transfers-went-extremely-well). It hopes to convince current users of SWIFT to avoid adopting Ripple Connect. \n\nXRP is tradable in a number of [exchanges](https://ripple.com/xrp/buy-xrp/) but the convertibility is somewhat limited as there isn't a debit card that is denominated in XRP as yet. Sure there are plenty of rumours that one will surface but we have yet to see that happen. \n\nXRP isn't going to be the next BTC, LTC or ETH. Many speculators out there like the low entry price of XRP and want to hedge on this to make some money. You could make some money out of this if you buy low (below USD1 buck) but you would be a fool to buy it any higher. \n\nRipple Connect seems to be the darling of the Fintech space but not XRP. One of the underlying reasons for XRP's relatively slow and poor adoption is that Banks do not want to deal with a digital asset that is convertible. How do you walk into any bank with a thumbdrive full of XRP and exchange that for fiat currency?\n\nThe glimmer of hope remains if XRP goes full monty, with all banks accepting it as a form of currency where it is convertible on the spot into your bank account. But the next big step is for a XRP based debit card. You need this to solidify its existence. \n\nUntil that happens, I won't be touching this with a ten foot pole.",
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2018/03/07 03:44:09
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2018/03/07 03:44:09
authortechtribe
body![btc.png](https://steemitimages.com/DQmfFc5V49DhTtLM2eyoRVjETJ7YMKMZgKwy8YqZZV4Yi98/btc.png) First, I do get asked a lot on this and I often tell them to do their own research on how to value a new crypto. People would then scratch their heads like they had lice and tell me they do not know where to start. As a former market intelligence analyst I can't understand why or how they can't do this. Fine. Then first consider the usage of a new crypto. All new cryptos are finding a niche and if they don't have one to differentiate them from the rest, then it is a scam. <h3>What is Usage?</h3> Every new crypto invented has a use. Some have limited usage potential, others like Ethereum and NEO blockchain with their smart contracts will have a perpetual use for it since the a virtual currency is required to transacting a data block. Crypto or virtual currencies that do not offer any unique usage potential may have no value. So this is not to say that Bitcoin has no real value but as the grand daddy of the crypto space its place is there, but its potential for upside growth will be limited. This also means John McAfee will have to eat his testis soon enough. Folks out there might do him a favor by sending him some crafty recipes. So using the next three criteria is important for any evaluation. <h3> 1. Traded on Numerous Exchanges Globally </h3> Crypto and token exchanges are privately run enterprises. They have their own vested interest in featuring a token or crypto currency on their exchanges. Unlike tokens, which in many cases the token owners will have to make arrangement to PAY a crypto exchange to get it listed, crypto currencies are instead judged by their investor appeal and adoption before they get listed for free. When more of these Crypto Exchanges list them, the easier it would be for people to trade them. It's like going out to buy a Big Mac, if there isn't a McDonalds in your area, you can't buy a Big Mac. Crypto exchanges will do their due diligence on their part on whether to list a virtual currency or not. They will study the demand and market trends so if they all hop on the same bandwagon, you can be assured that a any particular crypto currency has global or widespread appeal. <h3>Have numerous Traded Pairs</h3> ![traded pairs.jpg](https://steemitimages.com/DQmX6WAS7jjcaT8aNFcUvwFXny6hvtfHYNxWfV21xzhQsJU/traded%20pairs.jpg) A traded pair is linked directly to the convertibility of a crypto currency. For example, people will trade BTC/ETH or vice versa. So to evaluate a relatively new crypto currency, you just have to see how it is traded on crypto exchanges. There are many exchanges that trade USD/BTC, Euro/ETH, JPY/ETH etc. But the best or most valued cryptos can be traded directly to a currency like for example in SGD/ETH or HKD/LTC. With more traded pairs you have, the better its acceptance it is as a virtual currency internationally. The direct conversion to a national currency is a important factor for investors and speculators. It means having to bypass the forex commission trap imposed by banks. All banks charge you a fee for converting forex. It might not seem like a lot but when you are converting many thousands at a time, you risk having to lose a substantial margins in your crypto trades. It is the small margins that eventually takes the fun out of your trades. When you want to convert it back to your own holding or national currency, you could be losing twice as your local bank account won't let you hold USD or Euro when you have the currency converted back to deposit in you bank account. So imagine for a moment if your holding currency is the Indonesian Rupiah, you would have to convert Rupiah to USD to buy Ether and once you sell the Ether, you are going to be paid in USD and to take the money back to your local bank account, you have to convert USD to Rupiah once again. This porous exchange system means you have to keep track of your trades carefully, and this is why I don't believe in buying crypto currencies with a debit card. I did my research on one of such debit cards and found out that you pay up to 18 percent more for the spot price for a crypto currency. The whole deal makes loan sharks look like petulant Sunday school kids. <h3> Spending your Cryptos Directly from a Debit Card </h3> ![ltc.png](https://steemitimages.com/DQmcyQZYhgARo1Q3KdUiNCtEukpi6GmdNJjhbLoxTniDDhg/ltc.png) This is another criteria for a successful crypto currency. When Litecoin partnered with VISA, the value of LTC shot up. Now there are many crypto based debit cards, some convert your purchases instantly while others converts your crypto to fiat and uses a prepaid transaction method. Both ways can work for you or against you. But both types of debit cards have transaction charges. Some use a flat fee while others charge a percentage or less than 2 percent for each purchase transaction. What is important in the evaluation process is how many crypto debit cards you have direct access. In many cases, many crypto debit cards are subject to your place of abode. So if you reside in Asia, you may not be able to apply for a European crypto debit card. There are heaps of BTC and ETH debit cards but few LTC or BCH ones. This is where the issue of trading pairs in a crypto exchange will help sort you out by converting your holdings from say LTC to ETH or BTC for you to use with a debit card. ![bch debit.jpg](https://steemitimages.com/DQmcwe7F2QMKUJjAFod86u75fmKrFNLiVWEswtUCcz8R52t/bch%20debit.jpg) My evaluating criteria is not applicable to new cryptos that are being launched. For me I think there are too many of the same and there should be more differentiation. I also hate hard forks proposed by miners, like in the case of BCH or Bitcoin Gold. These are just another way for miners to print virtual money. If these guys are sincere, they could create a new virtual currency to fill a void that the old one doesn't do. Instead, they chose to ride on the Bitcoin name and do a hard fork for whatever reason they claim. Those of you who are speculating in the virtual currency market should NOT use this as a guide (even though technically you can use this a real world barometer or sorts). Speculation parameters are a bit different but I won't go into here. Like all analyst I like to be paid for my time dissecting information and there are tomes of it. As a rule I do not invest in crypto currencies since by investing in them will affect my judgement of each on its market performance and my holdings in BTC and ETH are payment for services rendered. I am quite sick of those ivory tower bloggers on YouTube who tell people to invest in tokens and cryptos to encourage herd investing in a crypto or token they are riding on. If you have questions, I would be most happy to answer them on Quora if it is worth my while.
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      "body": "![btc.png](https://steemitimages.com/DQmfFc5V49DhTtLM2eyoRVjETJ7YMKMZgKwy8YqZZV4Yi98/btc.png)\n\nFirst, I do get asked a lot on this and I often tell them to do their own research on how to value a new crypto. People would then scratch their heads like they had lice and tell me they do not know where to start. As a former market intelligence analyst I can't understand why or how they can't do this. \n\nFine. Then first consider the usage of a new crypto. \n\nAll new cryptos are finding a niche and if they don't have one to differentiate them from the rest, then it is a scam. \n\n<h3>What is Usage?</h3>\n\nEvery new crypto invented has a use. Some have limited usage potential, others like Ethereum and NEO blockchain with their smart contracts will have a perpetual use for it since the a virtual currency is required to transacting a data block. \n\nCrypto or virtual currencies that do not offer any unique usage potential may have no value. So this is not to say that Bitcoin has no real value but as the grand daddy of the crypto space its place is there, but its potential for upside growth will be limited. This also means John McAfee will have to eat his testis soon enough. Folks out there might do him a favor by sending him some crafty recipes. \n\nSo using the next three criteria is important for any evaluation. \n\n<h3> 1. Traded on Numerous Exchanges Globally </h3>\n\nCrypto and token exchanges are privately run enterprises. They have their own vested interest in featuring a token or crypto currency on their exchanges. Unlike tokens, which in many cases the token owners will have to make arrangement to PAY a crypto exchange to get it listed, crypto currencies are instead judged by their investor appeal and adoption before they get listed for free. \n\nWhen more of these Crypto Exchanges list them, the easier it would be for people to trade them. It's like going out to buy a Big Mac, if there isn't a McDonalds in your area, you can't buy a Big Mac. \n\nCrypto exchanges will do their due diligence on their part on whether to list a virtual currency or not. They will study the demand and market trends so if they all hop on the same bandwagon, you can be assured that a any particular crypto currency has global or widespread appeal. \n\n<h3>Have numerous Traded Pairs</h3>\n\n![traded pairs.jpg](https://steemitimages.com/DQmX6WAS7jjcaT8aNFcUvwFXny6hvtfHYNxWfV21xzhQsJU/traded%20pairs.jpg)\n\nA traded pair is linked directly to the convertibility of a crypto currency. For example, people will trade BTC/ETH or vice \nversa. So to evaluate a relatively new crypto currency, you just have to see how it is traded on crypto exchanges. \n\nThere are many exchanges that trade USD/BTC, Euro/ETH, JPY/ETH etc. But the best or most valued cryptos can be traded directly to a currency like for example in SGD/ETH or HKD/LTC. \n\nWith more traded pairs you have, the better its acceptance it is as a virtual currency internationally.  \n\nThe direct conversion to a national currency is a important factor for investors and speculators. It means having to bypass the forex commission trap imposed by banks. \n\nAll banks charge you a fee for converting forex. It might not seem like a lot but when you are converting many thousands at a time, you risk having to lose a substantial margins in your crypto trades. It is the small margins that eventually takes the fun out of your trades. When you want to convert it back to your own holding or national currency, you could be losing twice as your local bank account won't let you hold USD or Euro when you have the currency converted back to deposit in you bank account. So imagine for a moment if your holding currency is the Indonesian Rupiah, you would have to convert Rupiah to USD to buy Ether and once you sell the Ether, you are going to be paid in USD and to take the money back to your local bank account, you have to convert USD to Rupiah once again. \n\nThis porous exchange system means you have to keep track of your trades carefully, and this is why I don't believe in buying crypto currencies with a debit card. I did my research on one of such debit cards and found out that you pay up to 18 percent more for the spot price for a crypto currency. The whole deal makes loan sharks look like petulant Sunday school kids. \n\n<h3> Spending your Cryptos Directly from a Debit Card </h3>\n\n![ltc.png](https://steemitimages.com/DQmcyQZYhgARo1Q3KdUiNCtEukpi6GmdNJjhbLoxTniDDhg/ltc.png)\n\nThis is another criteria for a successful crypto currency. When Litecoin partnered with VISA, the value of LTC shot up. \n\nNow there are many crypto based debit cards, some convert your purchases instantly while others converts your crypto to fiat and uses a prepaid transaction method. Both ways can work for you or against you. \n\nBut both types of debit cards have transaction charges. Some use a flat fee while others charge a percentage or less than 2 percent for each purchase transaction. \n\nWhat is important in the evaluation process is how many crypto debit cards you have direct access. In many cases, many crypto debit cards are subject to your place of abode. So if you reside in Asia, you may not be able to apply for a European crypto debit card. \n\nThere are heaps of BTC and ETH debit cards but few LTC or BCH ones. \n\nThis is where the issue of trading pairs in a crypto exchange will help sort you out by converting your holdings from say LTC to ETH or BTC for you to use with a debit card. \n\n![bch debit.jpg](https://steemitimages.com/DQmcwe7F2QMKUJjAFod86u75fmKrFNLiVWEswtUCcz8R52t/bch%20debit.jpg)\n\nMy evaluating criteria is not applicable to new cryptos that are being launched. For me I think there are too many of the same and there should be more differentiation. \n\nI also hate hard forks proposed by miners, like in the case of BCH or Bitcoin Gold. These are just another way for miners to print virtual money. If these guys are sincere, they could create a new virtual currency to fill a void that the old one doesn't do. Instead, they chose to ride on the Bitcoin name and do a hard fork for whatever reason they claim. \n\nThose of you who are speculating in the virtual currency market should NOT use this as a guide (even though technically you can use this a real world barometer or sorts). \n\nSpeculation parameters are a bit different but I won't go into here. Like all analyst I like to be paid for my time dissecting information and there are tomes of it. As a rule I do not invest in crypto currencies since by investing in them will affect my judgement of each on its market performance and my holdings in BTC and ETH are payment for services rendered. \n\nI am quite sick of those ivory tower bloggers on YouTube who tell people to invest in tokens and cryptos to encourage herd investing in a crypto or token they are riding on. \n\nIf you have questions, I would be most happy to answer them on Quora if it is worth my while.",
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techtribeupdated their account properties
2018/03/07 03:31:09
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steemdelegated 18.193 SP to @techtribe
2018/02/03 02:45:09
delegateetechtribe
delegatorsteem
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2018/01/31 02:13:42
authortechtribe
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2018/01/31 02:13:42
authortechtribe
bodyhttps://youtu.be/vuP27Y7LCfs I hate it when a used car salesman tries to rebundle a gaming token to fool people into investing. How the hell can you disrupt a e-gaming platform when you don't have any developers that has winning games to their list of achievements. In the video, they have casually mentioned games on mobile and console, two of which are CLOSED platforms as they DO NOT allow for third party payment for in-game purchases. Remember EA's Star Wars Battlefront 2 fiasco where in-game purchases were to fund their Loot boxes? It became such a big issue that EA has suspended the in-game purchases and is currently under congressional scrutiny in the US. In Europe, it is the same thing. <h3> How to sell a Gaming Addiction </h3> In-game purchases are all the rage. You produce a game with your own financing and hopefully be addictive enough for people to double up to buy in-game goodies to play more competitively. This model of revenue is what makes in-game purchases a landmine for any developers to traverse. Apple and Google routinely allow in-game purchases to fund developers but this is done in-platform and not outside of it. Google Android phones will allow you to install games from unsanctioned sites when you check it in the settings box but beyond that, why would anyone buy in-game purchases outside of the Google eco-system is beyond me. For this, I am look at you Triforce Tokens. You haven't made a compelling sales pitch on how you can out game Google and Apple. The same can be said of Sony Playstation, Nintendo and Microsoft Xbox platforms. Where is your pitch on that? This is obviously the scam part, where you buy into the story that their token will change the way people will buy their games. The problem is that unless you OWN a gaming platform that is the hardware used to game, then only can you change the way people buy games. Remember Ouya? That would have worked but it didn't. Games are soft content. Hardware is needed to play the games and unless you tap an open platform that plays on PC or Mac, there is no chance in hell your token will ever work .
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permlinkico-teardown-triforce-ico-is-another-gaming-ico-that-is-destined-to-fail
titleICO teardown: Triforce ICO is another Gaming ICO that is destined to fail
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      "body": "https://youtu.be/vuP27Y7LCfs\n\nI hate it when a used car salesman tries to rebundle a gaming token to fool people into investing. How the hell can you disrupt a e-gaming platform when you don't have any developers that has winning games to their list of achievements.\n\nIn the video, they have casually mentioned games on mobile and console, two of which are CLOSED platforms as they DO NOT allow for third party payment for in-game purchases. \n\nRemember EA's Star Wars Battlefront 2 fiasco where in-game purchases were to fund their Loot boxes? It became such a big issue that EA has suspended the in-game purchases and is currently under congressional scrutiny in the US. In Europe, it is the same thing. \n\n<h3> How to sell a Gaming Addiction </h3>\n\nIn-game purchases are all the rage. You produce a game with your own financing and hopefully be addictive enough for people to double up to buy in-game goodies to play more competitively. This model of revenue is what makes in-game purchases a landmine for any developers to traverse. \n\nApple and Google routinely  allow in-game purchases to fund developers but this is done in-platform and not outside of it. Google Android phones will allow you to install games from unsanctioned sites when you check it in the settings box but beyond that, why would anyone buy in-game purchases outside of the Google eco-system is beyond me. For this, I am look at you Triforce Tokens. You haven't made a compelling sales pitch on how you can out game Google and Apple. \nThe same can be said of Sony Playstation, Nintendo and Microsoft Xbox platforms. Where is your pitch on that?\n\nThis is obviously the scam part, where you buy into the story that their token will change the way people will buy their games. The problem is that unless you OWN a gaming platform that is the hardware used to game, then only can you change the way people buy games. Remember Ouya? That would have worked but it didn't. \n\nGames are soft content. Hardware is needed to play the games and unless you tap an open platform that plays on PC or Mac, there is no chance in hell your token will ever work .",
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2018/01/10 10:41:45
authortechtribe
permlinkkodak-s-ico-is-nothing-short-of-a-scam
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2018/01/10 10:41:45
authortechtribe
body![kodak-kashminer.jpg](https://steemitimages.com/DQmWHnoxd2QZrtAMRpeAH59ajRwfax2Br6Ut1HYXuAUPcCh/kodak-kashminer.jpg)! The recent announcement that Kodak is jumping on the blockchain wagon confuses many as many would have thought that the old film giant was trying to diversify and move into a field of technology that it doesn't have an ounce of credibility to be in. First, let's look at the Kashminer. According to the Kodak licensee, an upfront payment of $3,400 for a two-year contract would lead to bitcoin production value of around $375 per month at current bitcoin value. The partnership would provide the licensee with half of the resulting $9,000 made over the 24-month period. The other half is being kept by Spotlite, the company who has licensed the Kodak name for its range of mining rigs. Bitcoin production would reach around $25 per day on the Kodak Bitcoin HashPower Upfront Payment Plan. ![DTI188SWAAAuRHF.jpg](https://steemitimages.com/DQmPXdaoDX1mgxnLcgvC5Y4UpcjotYHKdpreR5x4eP3phm1/DTI188SWAAAuRHF.jpg) We all know that Bitcoin mining contracts are subject to mining difficulties. To put out a promise to pay $375 a month is nothing short of a lie. Spotlite’s licensing of Kodak's name to sell its mining contracts is nothing short of a sham. Sure it will produce BTCs but with fluctuating prices, can Spotlite guarantee that the $375 will be the minimum payout every month? Another scam in the making is Kodak's Blockchain project KodakOne by partnering with Wenn Digital. Wenn Digital CMO Bruce Elliott was quoted as saying that they have a team of 20 people working on the KodakCoin project for "months and months". Elliet also added, "we can get a photo, lock it into our blockchain, then we can sort of assign the IP [intellectual property] to the individual, then we can look through the entire internet and find where that photo is being used, and if it's not being used correctly, then we can reach out to them with an automated system that says, 'hey, you might not have known that you're using this photo without a licence, why don't you get a licence to that', and then that money comes back and gets paid back to the photographers, and that whole transaction happens with that KodakCoin cryptocurrency," This is inanely stupid to think that the very culprits who steal your photos are going to own up and pay a licensing fee. In America you can try to get a take down from Google or file a DMCA but it doesn't work elsewhere in the world. To think that you photos that has been misappropriated in China or India would be protected is plain wooly headedness. I have given up on Photography for many years now and the reason is simple. To enforce a copyright, you need to have a slew of lawyers and for the paltry amount you gain from winning a law suit just isn't worth it. So perish the thought that Kodak is going to change the way digital photos are used on the Internet and Kodak should just go back to producing film stocks, a name which it is good for and try selling them for Bitcoin.
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permlinkkodak-s-ico-is-nothing-short-of-a-scam
titleKodak's ICO is nothing short of a Scam
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      "body": "![kodak-kashminer.jpg](https://steemitimages.com/DQmWHnoxd2QZrtAMRpeAH59ajRwfax2Br6Ut1HYXuAUPcCh/kodak-kashminer.jpg)!\n\nThe recent announcement that Kodak is jumping on the blockchain wagon confuses many as many would have thought that the old film giant was trying to diversify and move into a field of technology that it doesn't have an ounce of credibility to be in. \n\nFirst, let's look at the Kashminer. According to the Kodak licensee, an upfront payment of $3,400 for a two-year contract would lead to bitcoin production value of around $375 per month at current bitcoin value. The partnership would provide the licensee with half of the resulting $9,000 made over the 24-month period. The other half is being kept by Spotlite, the company who has licensed the Kodak name for its range of mining rigs. \n\nBitcoin production would reach around $25 per day on the Kodak Bitcoin HashPower Upfront Payment Plan.\n\n![DTI188SWAAAuRHF.jpg](https://steemitimages.com/DQmPXdaoDX1mgxnLcgvC5Y4UpcjotYHKdpreR5x4eP3phm1/DTI188SWAAAuRHF.jpg)\n\nWe all know that Bitcoin mining contracts are subject to mining difficulties. To put out a promise to pay $375 a month is nothing short of a lie. Spotlite’s licensing of Kodak's name to sell its mining contracts is nothing short of a sham. Sure it will produce BTCs but with fluctuating prices, can Spotlite guarantee that the $375 will be the minimum payout every month?\n\nAnother scam in the making is Kodak's Blockchain project KodakOne by partnering with Wenn Digital. Wenn Digital CMO Bruce Elliott was quoted as saying that they have a team of 20 people working on the KodakCoin project for \"months and months\".\n\nElliet also added, \"we can get a photo, lock it into our blockchain, then we can sort of assign the IP [intellectual property] to the individual, then we can look through the entire internet and find where that photo is being used, and if it's not being used correctly, then we can reach out to them with an automated system that says, 'hey, you might not have known that you're using this photo without a licence, why don't you get a licence to that', and then that money comes back and gets paid back to the photographers, and that whole transaction happens with that KodakCoin cryptocurrency,\"\n\nThis is inanely stupid to think that the very culprits who steal your photos are going to own up and pay a licensing fee. In America you can try to get a take down from Google or file a DMCA but it doesn't work elsewhere in the world. To think that you photos that has been misappropriated in China or India would be protected is plain wooly headedness. \n\nI have given up on Photography for many years now and the reason is simple. To enforce a copyright, you need to have a slew of lawyers and for the paltry amount you gain from winning a law suit just isn't worth it. \n\nSo perish the thought that Kodak is going to change the way digital photos are used on the Internet and Kodak should just go back to producing film stocks, a name which it is good for and try selling them for Bitcoin.",
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2017/12/24 14:51:27
authorresteembot
bodyResteemed by @resteembot! Good Luck! The resteem was payed by @greetbot Curious? The @resteembot's [introduction post](https://steemit.com/resteembot/@resteembot/how-to-use-resteembot-updated-2017824t202525149z) Get more from @resteembot with the #resteembotsentme initiative Check out the great posts I already resteemed.
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      "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.",
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2017/12/24 14:50:48
authorgreetbot
bodyHi. I am @greetbot - a bot that uses AI to look for newbies who write good content. I found your post and decided to help you get noticed. I will pay a resteeming service to resteem your post, and I'll give you my stamp of automatic approval! ![greetbot's stamp of approval](https://s7.postimg.org/6uvjyjmln/Greet_Bot_stamp.png)
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2017/12/22 14:47:48
authortechtribe
permlinkico-teardown-game-machine-ico
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2017/12/22 14:47:48
authortechtribe
body![](https://steemitimages.com/DQmdVtod6nRSPeFHasp1YKizT3yhhoCA6kfUoAsNXyCeD8h/image.png) I will be starting a devil’s advocate series with ICO teardown for investors who are clueless on the risk and returns on a myriad of industries that have jumped onto the ICO wagon. Having worked in market intelligence as an analyst will apply this same analysis to the numbers claimed in ICO white papers and see how some of them may have exaggerated their claims. For more information on the ICO, click [here](https://gamemachine.io). The ICO crowdsale is taking place now and will end in Jan 2018. <h3>What is Game Machine ICO all about?</h3> Good question. If you are not a gamer, or one who has a penchant for games, well I don't blame you. Game machine wants to develop their own blockchain to do the following for the Video Games industry. It is a complete ecosystem that covers both developers and gamers. • Game Machine Client — a miner and the program for gamers. 
 • Rise Machine — the platform for ICO crowd funding of games. 
 • Ads Machine — the advertising exchange for a game industry. 
 • Exchange Machine — the crypto exchange for gamers. 
 ![](https://steemitimages.com/DQmaRqmc9XX6cFj1GZgCyqq75yU75eTZNXTHANqWthTPHaG/image.png) One of the chief problems I have with such a business model is its lofty goals. Gamers are the miners of this proprietary blockchain system where the tokens can be used to redeem in-game purchases. These tokens will be called GMIT tokens. There is a caveat listed in the white paper as a warning. ![](https://steemitimages.com/DQmchCSxQxuUror44MT7yFFMfN8nbqnSt62nRZzk8rbc7D4/image.png) They also spelt Ethereum wrongly. White papers are like the prospectus of an IPO. If the spell check isn't working you start to suspect that something is wrong somewhere. <h3>Game Industry is a closed platform system</h3> One of the things I hate about ICOs claiming the big picture is that they don’t understand how the industry works. Every game created these days are based on a specific platform for delivery and purchase. When you don't have your own platform then integration into a third party platform would be impossible. For example, console games (which is not the target market of GMIT) is closed to developers who have signed on to develop for either Sony, Nintendo and Microsoft. The same applied to iOS and Android games. Game machine claims to have the ability to connect different platforms from iOS, PC, Android, etc to their ecosystem through APIs. Now let’s get this right. Games work on a platform based system and you don’t try to game the system by offering a different in-game purchase model. The platform in this context is the distribution of the games app where developers sell their wares and gamers buy their games. If it ain't broke why fix it? In a closed platform like Xbox, Playstation, iOS and to a lesser extent Android, in-game purchases are made within the platform and not outside of it. For example, Apple will never allow in-game purchases to take place outside their iOS ecosystem. The reason being a selfish one. They also fail to mention the salient points in which gamers would mine Gamefuel tokens if they aren’t worth anything to begin with. Android games can be side-loaded by checking the settings menu but there is no compelling reason to do this unless the game itself has been banned from the Google playstore. Side-loading games on iOS can only be done via jailbreaking the iPhone or iPad but that market unfortunately is a fraction of the total games market. It is a chicken or egg issue. You need to start at a point which you can build on but because the game machine ecosystem isn’t an attractive option for all gamers, why would anyone mine a token that is only viable on the PC platform. Developers have to create a game that is so intense and addictive that gamers are willing to mine these tokens to support the games. But you haven't yet address the issue of which platform in which the game will work on. Gamemachine’s white paper states that it intends to tap the mobile games industry. For this, it has to be some kind of joke as these platforms are closed distribution systems and not open to third party payment of in-game purchases. Google and Apple do not want people to buy in-game items outside their payment system. Do you see either Apple or Google offering Paypal purchases on their games appstore? Even in China, the mobile platform is closed to the outside world. And China is the next behemoth of the video games market. ![](https://steemitimages.com/DQmb7ESNpwD1DiAMsobjSzKryXQMhmRbNBQcKfk4wjfW5UP/image.png) So the only viable market is on the PC platform, and to an extent, the MacOS platform as well. If you look at the PC game market, it’s only 23 percent of that US$109 billion so let’s round this market up to include the PC browser games market which is at 4 percent (refer to the top chart). So the total market would be in the ballpark of US$30 billion and not the 100+ billion they claim to be targeting. Another note is that Steam is by far the default game shop for PC based games. If Steam isn’t onboard on the game machine ICO from the onset, there is no way this ICO is going to gain traction in the claimed time frame. PC gaming remains the most viable if game machine were to launch one on the platform. There is no reason to suspect that it can’t be done but the goals as I have said earlier is lofty. <h3>ICO for Gamers is difficult to convince</h3> In the white paper the expenditure for the next year will be broken down to this. ![](https://steemitimages.com/DQmXum8QQE1Za7hSdmScND3CzNuyefVZm2QQr72qMzEEkHG/image.png) So if they don’t hit their goal to fund this venture, will they return the money? If they get far less than they bargained for in the ICO will they put out a product worthy enough for PC gamers? These folks are not in the content development space so I have doubts. I didn’t touch on the Advertising model of Gamemachine named Ads Machine. I don’t think this model can disrupt the current one with fair value. In-game ads are the bread and butter of Free-to-play games. If you can’t disrupt a current model by offering better value to advertisers, then there is no reason that it will work. For developers, there is no real incentive to get a game to work on GMIT tokens if they don't already own part of the market. <h3>Conclusion</h3> Would I put money into this ICO? Definitely…..NOT. Here is the rule to investing in ICOs. When they don’t have a service or product and they need the money to develop this, treat it like a Kickstarter investment. If the product or service doesn’t materialize, you should not lose sleep over it. Holding on to your cryptos will mean it will appreciate in value far more over the return in investment through this ICO. No ICO can promise such a return on investment that is equal to what Ethereum and Bitcoin is experiencing. Game machine also takes cash investments but why would you do that? If you had the cash, you will be better off investing in cryptos. Right? What game machine wants to do is akin to scaling Mount Everest without an oxygen mask. It can be done but when you have so many factors in place to prevent you from finding success, why risk it?
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parent permlinkico
permlinkico-teardown-game-machine-ico
titleICO Teardown: Game Machine ICO
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      "body": "![](https://steemitimages.com/DQmdVtod6nRSPeFHasp1YKizT3yhhoCA6kfUoAsNXyCeD8h/image.png)\n\n\nI will be starting a devil’s advocate series with ICO teardown for investors who are clueless on the risk and returns on a myriad of industries that have jumped onto the ICO wagon. Having worked in market intelligence as an analyst will apply this same analysis to the numbers claimed in ICO white papers and see how some of them may have exaggerated their claims. \n\nFor more information on the ICO, click [here](https://gamemachine.io). The ICO crowdsale is taking place now and will end in Jan 2018.\n\n<h3>What is Game Machine ICO all about?</h3>\n\nGood question. If you are not a gamer, or one who has a penchant for games, well I don't blame you. \n\nGame machine wants to develop their own blockchain to do the following for the Video Games industry. It is a complete ecosystem that covers both developers and gamers. \n\n\t•\tGame Machine Client — a miner and the program for gamers. 
\n\t•\tRise Machine — the platform for ICO crowd funding of games. 
\n\t•\tAds Machine — the advertising exchange for a game industry. 
\n\t•\tExchange Machine — the crypto exchange for gamers. 
\n\n![](https://steemitimages.com/DQmaRqmc9XX6cFj1GZgCyqq75yU75eTZNXTHANqWthTPHaG/image.png)\n\nOne of the chief problems I have with such a business model is its lofty goals. Gamers are the miners of this proprietary blockchain system where the tokens can be used to redeem in-game purchases. These tokens will be called GMIT tokens. There is a caveat listed in the white paper as a warning. \n\n![](https://steemitimages.com/DQmchCSxQxuUror44MT7yFFMfN8nbqnSt62nRZzk8rbc7D4/image.png)\n\nThey also spelt Ethereum wrongly. White papers are like the prospectus of an IPO. If the spell check isn't working you start to suspect that something is wrong somewhere. \n\n<h3>Game Industry is a closed platform system</h3>\n\nOne of the things I hate about ICOs claiming the big picture is that they don’t understand how the industry works. Every game created these days are based on a specific platform for delivery and purchase. When you don't have your own platform then integration into a third party platform would be impossible. For example, console games (which is not the target market of GMIT) is closed to developers who have signed on to develop for either Sony, Nintendo and Microsoft. The same applied to iOS and Android games. \n\nGame machine claims to have the ability to connect different platforms from iOS, PC, Android, etc to their ecosystem through APIs. Now let’s get this right. Games work on a platform based system and you don’t try to game the system by offering a different in-game purchase model. The platform in this context is the distribution of the games app where developers sell their wares and gamers buy their games. If it ain't broke why fix it? \n\nIn a closed platform like Xbox, Playstation, iOS and to a lesser extent Android, in-game purchases are made within the platform and not outside of it. For example, Apple will never allow in-game purchases to take place outside their iOS ecosystem. The reason being a selfish one. They also fail to mention the salient points in which gamers would mine Gamefuel tokens if they aren’t worth anything to begin with. Android games can be side-loaded by checking the settings menu but there is no compelling reason to do this unless the game itself has been banned from the Google playstore. Side-loading games on iOS can only be done via jailbreaking the iPhone or iPad but that market unfortunately is a fraction of the total games market. \n\nIt is a chicken or egg issue. You need to start at a point which you can build on but because the game machine ecosystem isn’t an attractive option for all gamers, why would anyone mine a token that is only viable on the PC platform. Developers have to create a game that is so intense and addictive that gamers are willing to mine these tokens to support the games. But you haven't yet address the issue of which platform in which the game will work on. \n\nGamemachine’s white paper states that it intends to tap the mobile games industry. For this, it has to be some kind of joke as these platforms are closed distribution systems and not open to third party payment of in-game purchases. Google and Apple do not want people to buy in-game items outside their payment system. Do you see either Apple or Google offering Paypal purchases on their games appstore? Even in China, the mobile platform is closed to the outside world. And China is the next behemoth of the video games market. \n\n![](https://steemitimages.com/DQmb7ESNpwD1DiAMsobjSzKryXQMhmRbNBQcKfk4wjfW5UP/image.png)\n\nSo the only viable market is on the PC platform, and to an extent, the MacOS platform as well. If you look at the PC game market, it’s only 23 percent of that US$109 billion so let’s round this market up to include the PC browser games market which is at 4 percent (refer to the top chart). So the total market would be in the ballpark of US$30 billion and not the 100+ billion they claim to be targeting. \n\nAnother note is that Steam is by far the default game shop for PC based games. If Steam isn’t onboard on the game machine ICO from the onset, there is no way this ICO is going to gain traction in the claimed time frame. PC gaming remains the most viable if game machine were to launch one on the platform. \n\nThere is no reason to suspect that it can’t be done but the goals as I have said earlier is lofty. \n\n<h3>ICO for Gamers is difficult to convince</h3>\n\nIn the white paper the expenditure for the next year will be broken down to this. \n\n![](https://steemitimages.com/DQmXum8QQE1Za7hSdmScND3CzNuyefVZm2QQr72qMzEEkHG/image.png)\n\nSo if they don’t hit their goal to fund this venture, will they return the money? If they get far less than they bargained for in the ICO will they put out a product worthy enough for PC gamers? These folks are not in the content development space so I have doubts. \n\nI didn’t touch on the Advertising model of Gamemachine named Ads Machine. I don’t think this model can disrupt the current one with fair value. In-game ads are the bread and butter of Free-to-play games. If you can’t disrupt a current model by offering better value to advertisers, then there is no reason that it will work. \n\nFor developers, there is no real incentive to get a game to work on GMIT tokens if they don't already own part of the market. \n\n<h3>Conclusion</h3>\n\nWould I put money into this ICO? Definitely…..NOT. \n\nHere is the rule to investing in ICOs. When they don’t have a service or product and they need the money to develop this, treat it like a Kickstarter investment. If the product or service doesn’t materialize, you should not lose sleep over it. \n\nHolding on to your cryptos will mean it will appreciate in value far more over the return in investment through this ICO. No ICO can promise such a return on investment that is equal to what Ethereum and Bitcoin is experiencing. \n\nGame machine also takes cash investments but why would you do that? If you had the cash, you will be better off investing in cryptos. Right?\n\nWhat game machine wants to do is akin to scaling Mount Everest without an oxygen mask. It can be done but when you have so many factors in place to prevent you from finding success, why risk it?",
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techtribeclaimed reward balance: 0.015 SBD, 0.019 SP
2017/12/20 12:00:18
accounttechtribe
reward sbd0.015 SBD
reward steem0.000 STEEM
reward vests30.894682 VESTS
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2017/12/17 06:02:03
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2017/12/17 06:02:03
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2017/12/17 03:24:06
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2017/12/17 03:24:06
authortechtribe
bodyhttps://dotmobility.files.wordpress.com/2017/12/eth1year.jpeg With Crypto going up, is there any hope for ICOs wanting to venture into this space? How are ICOs able to raise money if they have to compete with rising value of cryptos? We all know that the Winklevoss twins are behind the CBOE futures for Bitcoin and it would have better returns if you traded these future contracts than to invest them in ICOs. Bitcoin has become a speculative vehicle so what about Ethereum? The problem is, not many are aware that Ethereum is also traded on Nasdaq in the form of debt securities or ETN (exchange traded notes) but is not as well known compared to its Bitcoin brethren. To know more about ETNs, click [here](https://www.ft.com/content/413a5d3c-a9e7-11df-8eb1-00144feabdc0). On Nasdaq, you can buy ETH based ETNs via [XBT](https://xbtprovider.com/). The Value of ETH is hovering around US$700 a pop from a low of US$280 earlier this year. The chart above says it all. As ETH becomes more valuable, why invest in an ICO? In one way, you could say that Wall Street has hijacked ETH and made it a bloodsport. This serves as a lesson to ICOs who wish to jump on the crypto bandwagon hoping to promise more returns as clearly at this stage, such a promise would be impossible to keep. What's more the SEC is breathing down the necks of ICOs to suss them out. As long as your ICO is structured like an IPO, token exchanges around the world are not allowed to list you. <h3> So what does 'structured like an IPO' mean?</h3> As long as an ICO token promises a return on the investment, be it a t-shirt, coffee mug or cash, it will be deemed to be a security and thus will fall under the guise of an illegal ICO. The situation has gotten so bad that TenX's PAY token had to be restructured. You can real more [here](https://blog.tenx.tech/tenx-pay-token-structure-update-4f19be727870). I brought up TenX PAY token because it was delisted from CoinGate exchange in Hong Kong and was wondering why they made such a move. From the onset, PAY token was seen as a type of security but it was only of late that they have come out of the closet to say that they are not. TenX is one of many ICOs that got funding through the ICO method so the question you are begging to ask is....what's it in it for me? Absolutely nothing I'm afraid. When you put your hard earned crypto to work, you gotta expect some kind of return. If not why not convert it to cash and get smashed on a few bottles of Dom Perignon Champagne while you wait for Trump to start WW3 with North Korea? Why put your hard earned ETH into an ICO that doesn't give you any value or return. So whose is 'I am with stupid' now? Of course you can put your crypts in to an ICO in good faith but why would you? These ICO folks have a salary drawn from a project you funded but you are not a part of it since you have no voting rights and don't get a dime in return. Investors want to be reassured that they are funding something for a return and that should be written in stone from the onset of the ICO. It would be a different story if the ICO is about buying up land banks to keep as part of nature and with no promise of returns, at least the wild animals who live there would enjoy it. But ICOs are just another means to get people to part with their money to earn more money. For the record, I am not against ICOs. But with regulation so tight, you need to give value to your investors without it seen by governments as a form of an IPO. There are many creative ways to go about this and you don't need a proof of concept to know this. ICOs in 2018 will have a hard time proving they have a viable business model that has some kind of returns that isn't already a long stretch. I have seen ICOs that try to convince you with Whitepapers (boring stuff that only academics would gloss over) on their business strategy and model. As an investor, you should be selfish and ask outright questions on the business plan. If they can't give you a straight answer on their Telegram chat, you should not get involved. However if you want to play the me-first investor role, this is what to look out for: 1. Buy back prices for the tokens on a later date. 2. Trade these tokens for current services offered by professionals (car towing isn't one of them) 3. Kickstarter style returns of a finished product 4. Barter trading the tokens for real world goods. 5. (Haven't figured this one out yet but five looks like a good number) So my take on the matter is TenX is overvalued and if you held any tokens, you should dump them now, convert your cash back to ETH or LiteCoin, sit back and wait for the value to rise before you sell them.
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permlinkicos-will-be-a-hardsell-in-2018
titleICOs will be a hardsell in 2018
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      "body": "https://dotmobility.files.wordpress.com/2017/12/eth1year.jpeg\n\nWith Crypto going up, is there any hope for ICOs wanting to venture into this space? How are ICOs able to raise money if they have to compete with rising value of cryptos?\n\nWe all know that the  Winklevoss twins are behind the CBOE futures for Bitcoin and it would have better returns if you traded these future contracts than to invest them in ICOs. Bitcoin has become a speculative vehicle so what about Ethereum?\n\nThe problem is, not many are aware that Ethereum is also traded on Nasdaq in the form of debt securities or ETN (exchange traded notes) but is not as well known compared to its Bitcoin brethren. To know more about ETNs, click [here](https://www.ft.com/content/413a5d3c-a9e7-11df-8eb1-00144feabdc0). On Nasdaq, you can buy ETH based ETNs via [XBT](https://xbtprovider.com/).\n\nThe Value of ETH is hovering around US$700 a pop from a low of US$280 earlier this year. The chart above says it all. As ETH becomes more valuable, why invest in an ICO?\n\nIn one way, you could say that Wall Street has hijacked ETH and made it a bloodsport. \n\nThis serves as a lesson to ICOs who wish to jump on the crypto bandwagon hoping to promise more returns as clearly at this stage, such a promise would be impossible to keep. \n\nWhat's more the SEC is breathing down the necks of ICOs to suss them out. As long as your ICO is structured like an IPO, token exchanges around the world are not allowed to list you. \n\n<h3> So what does 'structured like an IPO' mean?</h3>\n\nAs long as an ICO token promises a return on the investment, be it a t-shirt, coffee mug or cash, it will be deemed to be a security and thus will fall under the guise of an illegal ICO. The situation has gotten so bad that TenX's PAY token had to be restructured. You can real more [here](https://blog.tenx.tech/tenx-pay-token-structure-update-4f19be727870). I brought up TenX PAY token because it was delisted from CoinGate exchange in Hong Kong and was wondering why they made such a move. From the onset, PAY token was seen as a type of security but it was only of late that they have come out of the closet to say that they are not.\n\nTenX is one of many ICOs that got funding through the ICO method so the question you are begging to ask is....what's it in it for me?\n\nAbsolutely nothing I'm afraid. \n\nWhen you put your hard earned crypto to work, you gotta expect some kind of return. If not why not convert it to cash and get smashed on a few bottles of Dom Perignon Champagne while you wait for Trump to start WW3 with North Korea? Why put your hard earned ETH into an ICO that doesn't give you any value or return. So whose is 'I am with stupid' now? \n\nOf course you can put your crypts in to an ICO in good faith but why would you? These ICO folks have a salary drawn from a project you funded but you are not a part of it since you have no voting rights and don't get a dime in return. Investors want to be reassured that they are funding something for a return and that should be written in stone from the onset of the ICO. \n\nIt would be a different story if the  ICO is about buying up land banks to keep as part of nature and with no promise of returns, at least the wild animals who live there would enjoy it. But ICOs are just another means to get people to part with their money to earn more money. \n\nFor the record, I am not against ICOs. But with regulation so tight, you need to give value to your investors without it seen by governments as a form of an IPO. There are many creative ways to go about this and you don't need a proof of concept to know this. ICOs in 2018 will have a hard time proving they have a viable business model that has some kind of  returns that isn't already a long stretch. I have seen ICOs that try to convince you with Whitepapers (boring stuff that only academics would gloss over) on their business strategy and model. \n\nAs an investor, you should be selfish and ask outright questions on the business plan. If they can't give you a straight answer on their Telegram chat, you should not get involved. \n\nHowever if you want to play the me-first investor role, this is what to look out for:\n\n\n1. Buy back prices for the tokens on a later date. \n2. Trade these tokens for current services offered by professionals (car towing isn't one of them)\n3. Kickstarter style returns of a finished product\n4. Barter trading the tokens for real world goods. \n5. (Haven't figured this one out yet but five looks like a good number)\n\nSo my take on the matter is TenX is overvalued and if you held any tokens, you should dump them now, convert your cash back to ETH or LiteCoin, sit back and wait for the value to rise before you sell them.",
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2017/12/17 02:06:21
authordaveappleton
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2017/12/11 03:01:03
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2017/12/11 02:41:03
authortechtribe
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2017/12/11 02:41:03
authortechtribe
body(https://s.yimg.com/ea/img/-/170925/59c8becf63b16_630x354_data_q62o76manf8id8_jtfojbdqj6xemfty_7sdguddndvay6fftbgajui9dje3hi1vxjgpvgdd3vpy_a_2_0_59c8becf43b4c.jpg) This is a follow up on the announcement of a gaming ICO that is held under the radar of both Macau and HK authorities. Dragon ICO is live! As predicted, the world's first gambling ICO is going ahead as planned and aims to raise US$400 million. The DRG tokens issued will have a holding period before it can be exchanged for gaming tokens at VIP tables in Macau. Approximately US$15 million will be spent developing the back end block chain system to enable the gaming to take place so the holding period is basically the lead time needed to implement the blockchain. The ICO is completely legal from the Macau Gaming Authority standpoint as the DRG tokens will be used to replace the current ledger system used by junket operators in casino VIP rooms. Purchasing of the ICO will only be possible with ETH and KYC information is required. The white paper can be read [here](https://s3.amazonaws.com/drg-token/Whitepaper-Dragon.pdf).
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parent author
parent permlinkico
permlinkdragon-ico-launches-for-macau-gambling
titleDRAGON ICO launches for Macau Gambling
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      "body": "(https://s.yimg.com/ea/img/-/170925/59c8becf63b16_630x354_data_q62o76manf8id8_jtfojbdqj6xemfty_7sdguddndvay6fftbgajui9dje3hi1vxjgpvgdd3vpy_a_2_0_59c8becf43b4c.jpg)\n\nThis is a follow up on the announcement of a gaming ICO that is held under the radar of both Macau and HK authorities. Dragon ICO is live! \n\nAs predicted, the world's first gambling ICO is going ahead as planned and aims to raise US$400 million. The DRG tokens issued will have a holding period before it can be exchanged for gaming tokens at VIP tables in Macau. Approximately US$15 million will be spent developing the back end block chain system to enable the gaming to take place so the holding period is basically the lead time needed to implement the blockchain. \n\nThe ICO is completely legal from the Macau Gaming Authority standpoint as the DRG tokens will be used to replace the current ledger system used by junket operators in casino VIP rooms. \n\nPurchasing of the ICO will only be possible with ETH and KYC information is required. \n\nThe white paper can be read [here](https://s3.amazonaws.com/drg-token/Whitepaper-Dragon.pdf).",
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steemdelegated 18.319 SP to @techtribe
2017/10/13 16:01:48
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2017/10/02 02:58:24
authortechtribe
body@@ -1543,16 +1543,52 @@ still is + revered figure with the underground . %0A%0AWhen @@ -1799,15 +1799,16 @@ sed -next to +opposite the @@ -2716,35 +2716,212 @@ ears -, which he successfully did +. The entire Portuguese judicial system was a farce at that time, bought out entirely by the Triads so to convict a Triad boss like Wan would have taken a fair bit of will power by the governing authority . %0A%0A @@ -2986,16 +2986,39 @@ The ICO +mentioned in the media was bles @@ -3451,16 +3451,18 @@ erence. +%0A%0A This was @@ -3662,16 +3662,128 @@ rtuguese + but former underground chieftains have all legitimized its business. This is why the deal sounds like a payback . %0A%0AYou @@ -4097,222 +4097,8 @@ le. -The Casino industry opened up and Macau residents had their jobs protected from foreigners. All croupiers must be local residents and only selected jobs from the hotel and service industries can engage foreigners. %0A%0ATh
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2017/10/01 02:52:33
authortechtribe
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2017/10/01 02:52:33
authortechtribe
body![bitcoin-2730220_1280.jpg](https://steemitimages.com/DQme8534j4RpGpnHMPZE3Zm28vyEDLThBuAUw7iVRat6PYx/bitcoin-2730220_1280.jpg) There is this belief that companies that are listed on the SEC will be safe as they are regulated but that hasn't really benefited the man on the street. Stock prices are often manipulated with false information and you have to ask yourself what's the difference between an IPO and an ICO. It is the public perception of your IPO that will determine the asking price and for that you should have some track record to show that you have what it takes to pull it off. ICOs and Startup culture is no different. Except that ICOs are the fast track options for those who want to seize the moment. The manner in which funds are raise has open a can of worms for SECs around the world. The use of Bitcoin and Ether to exchange for Tokens is not in the preview of regulation since both ETH and BTC are not recognized as currency in many countries. Japan was one of the first to recognize crypto currency as real world fiat currency. By doing this, they have the right to regulate the way in which ICOs will work in the future. Token swaps, where you exchange BTC or ETH for a ICO Token will be no different than using real money to buy shares or securities in a company and this is the first step towards regulation. For the most part, ICOs are public if they are using Ethereum's ERC20 platform. The ownership of each token can be checked and validated by you and me. The data itself is stored on a blockchain which itself is secure. The only caveat is when people phish or scam you of those tokens, you will have to kiss them goodbye. Pundits have talked about an ICO bubble, which to some extent is building up to a climax now that the SECs around the world have put them in their cross hairs. <h3> Virtual Currency Recognition</h3> There is this misconception that as long as a national government does not recognize the legality of crypto currencies, then it is legal. It is not. For the law to regulate anything it has to first recognize that virtual currencies as legitimate real world fiat currency. Japan is way ahead of the rest of the world on this and this is why Bitcoin and Ether is recognized as currency. This is the first step towards recognizing ICOs are legitimate venture capitals and with that, fall into some kind of regulatory framework. South Korea on the other hand just wanted to regulate ICOs by banning them but they didn't ban the mining of virtual currencies or their use. So what does it mean? As long as virtual currencies are not regulated or recognized as fiat currency, there is no hope for ICOs ever being legal. China has a much more opaque approach. It prohibits the legal banking system from using or exchanging virtual currencies for cash while not outlawing the mining of the currency. China is going ahead to recognize virtual currencies as virtual assets, placing them in a different category with equal value to owning a physical car in the real world. Just remember that the Great Firewall of China isn't there to prevent money getting into the China. It is there to prevent money from leaving the country. By legally recognizing it as fiat currency, the trading of BTC and ETH can be used to circumvent currency controls. So by recognizing it as a virtual asset, BTC and ETH can be taxed in the same way as real world goods. Ownership of virtual goods isn't prohibited, just that it doesn't have the same standing as owning a real world fiat currency like the Dollar or Sterling Pound. Countries that have not recognized Crypto currencies or ICOs are grey markets. That means anything and everything can go wrong if you happen to operate from there. These are grey markets where there are no exact regulations. Examples can be seen in countries like Malaysia, Singapore and at this writing, Hong Kong. <h3> What Happens to those who operate from Grey Markets</h3> Here is one case worth taking note of, GateCoin of Hong Kong — a virtual currency exchange has had their bank accounts halted at the end of September for no apparent reason. This probably came from the HKMA but there is no exact audit trail that says they were responsible for closing GateCoin's Hang Seng bank account which according to them is used for transferring HKD and USD to clients. This has severely impacted the clearing cycle for crypto currencies if you want your money in HKD or USD. ![1-dWIlSlqP30nYHZLphENk9Q.png](https://steemitimages.com/DQmaoBcBvjb7MpgY98DxcihTcpKxNj1dvr6ZNFbaJxrU5RG/1-dWIlSlqP30nYHZLphENk9Q.png) Such sudden closures are only expected when the HKMA doesn't agree with your business and a similar case also happened to several token exchange in Singapore. The Monetary Authority of Singapore also went a closing spree and you can read more about it [here](http://www.straitstimes.com/business/banking/some-cryptocurrency-firms-had-their-singapore-bank-accounts-closed). The dangers of operating in a grey market like Hong Kong and Singapore is that even though it is not explicitly illegal, they can move faster than you can by freezing your business assets and making it impossible for you to do business. This is also why the [Wikipedia](https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory) entry on the legality of crypto currencies is not accurate. They have listed grey markets as legal and this can give you the false impression that it is legal when they are not. <h3> Death and Taxes </h3> There is no denying that Japan needs to expand its tax base and by making virtual currencies legal and blessing them with an easy path to doing business, they have created the most open country in the world to jump into the crypto currency and ICO token business. This is until you read the fine print that says your business is subjected to a 32 percent corporate tax. Yes folks, the most open place to set up a crypto shop also has one of the highest corporate tax rates in the world. Your ICO will be subjected to the same corporate tax rate and so will your token exchange business. Places like Singapore and Hong Kong have a tax rate between 16 to 17 percent but would you do business there when the regulators themselves are not wiling to recognize virtual currencies? This is why ICOs that set up in Singapore do not sell their tokens to Singaporean residents as a way to avoid conflict with the authorities. Customers for such ICOs have to be white listed to be living elsewhere to buy into it. The underlying reason for recognizing the validity of crypto currencies as real world fiat currency is about taxes. By having a way to convert a virtual token to a currency which you can use as electronic cash as in the case of a debit card or have the exchange proceeds deposited in a bank account is really about paying taxes more than anything else. Once the tax issue is sorted out, you get your share of the crypto profits and in turn pay the tax man his dues. This is why official regulation has to be in place and both the HKMA and MAS haven't figured out where to set it down. For now, having a ICO listing might seem like a good idea but to have your business shut down because they haven't figured out how to tax you would be problematic to say the least. ICOs are the way to go when it comes to venture capital. It's like kickstarter and indiegogo. Some projects will not take off for the lack of funding and others who have secured such crowdfunding will end up like a eight car pile up on a highway. Either way, ICOs are in no way a guarantee ride to success just like any new startup gunning for an IPO board listing. I should know this having seen two startups I was involved in go down like a blazing meteor. The light trails were fascinating but it ended without a puff of smoke. ICOs will dominate the venture capital landscape thanks largely to Bitcoin and Ethereum. And virtual currencies will remain in demand because ICO tokens on a blockchain is the next best thing to stockbroking without borders.
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permlinkwhy-crypto-tokens-and-icos-will-dominate-venture-capital
titleWhy Crypto Tokens and ICOs will dominate Venture Capital
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      "body": "![bitcoin-2730220_1280.jpg](https://steemitimages.com/DQme8534j4RpGpnHMPZE3Zm28vyEDLThBuAUw7iVRat6PYx/bitcoin-2730220_1280.jpg)\n\nThere is this belief that companies that are listed on the SEC will be safe as they are regulated but that hasn't really benefited the man on the street. Stock prices are often manipulated with false information and you have to ask yourself what's the difference between an IPO and an ICO. It is the public perception of your IPO that will determine the asking price and for that you should have some track record to show that you have what it takes to pull it off. \n\nICOs and Startup culture is no different. Except that ICOs are the fast track options for those who want to seize the moment. The manner in which funds are raise has open a can of worms for SECs around the world. The use of Bitcoin and Ether to exchange for Tokens is not in the preview of regulation since both ETH and BTC  are not recognized as currency in many countries. \n\nJapan was one of the first to recognize crypto currency as real world fiat currency. By doing this, they have the right to regulate the way in which ICOs will work in the future. Token swaps, where you exchange BTC or ETH for a ICO Token will be no different than using real money to buy shares or securities in a company and this is the first step towards regulation. \n\nFor the most part, ICOs are public if they are using Ethereum's ERC20 platform. The ownership of each token can be checked and validated by you and me. The data itself is stored on a blockchain which itself is secure. The only caveat is when people phish or scam you of those tokens, you will have to kiss them goodbye. \n\nPundits have talked about an ICO bubble, which to some extent is building up to a climax now that the SECs around the world have put them in their cross hairs. \n\n<h3> Virtual Currency Recognition</h3>\n\nThere is this misconception that as long as a national government does not recognize the legality of crypto currencies, then it is legal. It is not. \n\nFor the law to regulate anything it has to first recognize that virtual currencies as legitimate real world fiat currency. Japan is way ahead of the rest of the world on this and this is why Bitcoin and Ether is recognized as currency. This is the first step towards recognizing ICOs are legitimate venture capitals and with that, fall into some kind of regulatory framework. \n\nSouth Korea on the other hand just wanted to regulate ICOs by banning them but they didn't ban the mining of virtual currencies or their use. So what does it mean? As long as virtual currencies are not regulated or recognized as fiat currency, there is no hope for ICOs ever being legal. \n\nChina has a much  more opaque approach. It prohibits the legal banking system from using or exchanging virtual currencies for cash while not outlawing the mining of the currency. China is going ahead to recognize virtual currencies as virtual assets, placing them in a different category with equal value to owning a physical car in the real world. Just remember that the Great Firewall of China isn't there to prevent money getting into the China. It is there to prevent money from leaving the country. By legally recognizing it as fiat currency, the trading of BTC and ETH can be used to circumvent currency controls. So by recognizing it as a virtual asset, BTC and ETH can be taxed in the same way as real world goods. Ownership of virtual goods isn't prohibited, just that it doesn't have the same standing as owning a real world fiat currency like the Dollar or Sterling Pound. \n\nCountries that have not recognized Crypto currencies or ICOs are grey markets. That means anything and everything can go wrong if you happen to operate from there. These are grey markets where there are no exact regulations. Examples can be seen in countries like Malaysia, Singapore and at this writing, Hong Kong.\n\n<h3> What Happens to those who operate from Grey Markets</h3>\n\nHere is one case worth taking note of, GateCoin of Hong Kong — a virtual currency exchange has had their bank accounts halted at the end of September for no apparent reason. This probably came from the HKMA but there is no exact audit trail that says they were responsible for closing GateCoin's Hang Seng bank account which according to them is used for transferring HKD and USD to clients. \n\nThis has severely impacted the clearing cycle for crypto currencies if you want your money in HKD or USD. \n\n![1-dWIlSlqP30nYHZLphENk9Q.png](https://steemitimages.com/DQmaoBcBvjb7MpgY98DxcihTcpKxNj1dvr6ZNFbaJxrU5RG/1-dWIlSlqP30nYHZLphENk9Q.png)\n\nSuch sudden closures are only expected when the HKMA doesn't agree with your business and a similar case also happened to several token exchange in Singapore.  The Monetary Authority of Singapore also went a closing spree and you can read more about it [here](http://www.straitstimes.com/business/banking/some-cryptocurrency-firms-had-their-singapore-bank-accounts-closed).\n\nThe dangers of operating in a grey market like Hong Kong and Singapore is that even though it is not explicitly illegal, they can move faster than you can by freezing your business assets and making it impossible for you to do business. \n\nThis is also why the [Wikipedia](https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory) entry on the legality of crypto currencies is not accurate. They have listed grey markets as legal and this can give you the false impression that it is legal when they are not. \n\n<h3> Death and Taxes </h3>\n\nThere is no denying that Japan needs to expand its tax base and by making virtual currencies legal and blessing them with an easy path to doing business, they have created the most open country in the world to jump into the crypto currency and ICO token business. This is until you read the fine print that says your business is subjected to a 32 percent corporate tax. \n\nYes folks, the most open place to set up a crypto shop also has one of the highest corporate tax rates in the world.  Your ICO will be subjected to the same corporate tax rate and so will your token exchange business. \n\nPlaces like Singapore and Hong Kong have a tax rate between 16 to 17 percent but would you do business there when the regulators themselves are not wiling to recognize virtual currencies? This is why ICOs that set up in Singapore do not sell their tokens to Singaporean residents as a way to avoid conflict with the authorities. Customers for such ICOs have to be white listed to be living elsewhere to buy into it. \n\nThe underlying reason for recognizing the validity of crypto currencies as real world fiat currency is about taxes. By having a way to convert a virtual token to a currency which you can use as electronic cash as in the case of a debit card or have the exchange proceeds deposited in a bank account is really about paying taxes more than anything else. \n\nOnce the tax issue is sorted out, you get your share of the crypto profits and in turn pay the tax man his dues. \n\nThis is why official regulation has to be in place and both the HKMA and MAS haven't figured out where to set it down. For now, having a ICO listing might seem like a good idea but to have your business shut down because they haven't figured out how to tax you would be problematic to say the least. \n\nICOs are the way to go when it comes to venture capital. It's like kickstarter and indiegogo. Some projects will not take off for the lack of funding and others who have secured such crowdfunding will end up like a eight car pile up on a highway. Either way, ICOs are in no way a guarantee ride to success just like any new startup gunning for an IPO board listing. \n\nI should know this having seen two startups I was involved in go down like a blazing meteor. The light trails were fascinating but it ended without a puff of smoke. \n\nICOs will dominate the venture capital landscape thanks largely to Bitcoin and Ethereum. And virtual currencies will remain in demand because ICO tokens on a blockchain is the next best thing to stockbroking without borders.",
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2017/09/28 13:35:39
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2017/09/27 17:15:18
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2017/09/27 17:15:18
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2017/09/27 17:13:36
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2017/09/27 04:00:30
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2017/09/27 04:00:30
authortechtribe
body![wong_kuok_koi2-2-1.jpg](https://steemitimages.com/DQmdcdM8f72LgiS2isYc83DkiqavTtY8sVD5yMKUYtqrSFm/wong_kuok_koi2-2-1.jpg) <i>Broken Tooth with his Lambo </i> There is no denying the interest to put your Bitcoin to use if you live in China. Ever since the crackdown started, BTC naysayers were rejoicing but their celebrations were short lived when it started to go up again, thanks largely to commercial investors like JP Morgan who were buying into the trade whenever even when CEO Jamie Dimon declared it to be a scam. Such sharp declines are good for the speculative business. A month ago, BTC was at an all high of US$4.6K and today it is US$3.9K. By end September, when all BTC and ETH exchanges are to close officially in China, there should be a rush to clear the virtual currency from China and taking that value down even further. But the value of both BTC and ETH is going up against expectations. The Internet is porous. When money can be denoted by a string of code to show ownership and value in the real world, any attempts by the authorities to catch hold of it would be like trying to hold on to vapour. Macau's first ICO will be led by Dragon Corp and its business partner, Wi Holding Company, where they plan to hold an initial coin offering for their new digital currency next month when they hope to raise $500 million. The twist to this problem is that they had received blessings from Wan Kuok-koi or Broken Tooth as he is fondly known. He was the Godfather of the 14K Triad group in Macau and to some point he still is. When I was in Macau, I was fascinated when a taxi driver taking me to Coloane village told me about the inmate who lived in luxury in that particular prison. It was Wan he was referring and his prison was housed next to the Police Academy in Macau. During the turf wars of 1996 and 1999, Wan was instrumental in controlling the underground and when the turf war erupted, Stanley Ho intervened with a warning to all the Triad bosses, the notice came from Beijing of course and it said in very few words that such turf wars will not be tolerated when the Portuguese enclave reverts to Chinese rule and that Beijing will make them all 'disappear'. Needless to say the fighting stopped. Wan's signature threat was the one the sent to the media where an unsigned letter was sent to several newspapers in the area. It said: "Warning: From this day on it is forbidden to mention Broken Tooth Koi in the press; otherwise bullets will have no eyes, and knives and bullets will have no feelings." Wan's undoing was his attempt to murder chief of police Antonio Marques Baptista, and Antonio promised to put him behind bars for 14 years, which he successfully did. Fastforward to 2012, Wan was released and now a free man. The ICO was blessed by Wan and for some strange reason, it is just right up his alley too. <h3> Macau's first Casino ICO </h3> The ICO is broken into two parts, the first being a floating casino and the second being a Junket operation in Macau. Now the floating casino isn't difficult to operate if you have the blessings from Stanley Ho. Apparently you can borrow a casino license for a fee and operate your own casino without much interference. This was probably the deal struck with Wan and Ho before he agreed to go to jail. That upon release, Beijing will give him a clean slate to start with. Beijing cleaned up the mess left behind by the Portuguese. You have no idea how bad a place Macau was during Portuguese rule. There were scams run under the guise of tourism to rob tourist, the whole police force was on the take....right up to the High court judges. After the handover, peace came back to Macau and the quality of life actually improved under Chinese rule. The Casino industry opened up and Macau residents had their jobs protected from foreigners. All croupiers must be local residents and only selected jobs from the hotel and service industries can engage foreigners. This is why the ICO taking place is important for Wan but the Junket business has taken a hit since Beijing choked the gambling enclave with a crackdown on illegal funding. For those of you who have no idea what the junket business is like then read on. The Macau ICO taking place will allow you to invest in a gambling business that includes junket operations. There will be a token exchange, which you swap your BTC or ETH for a Macau Token. The Macau Token will act as a security to your share of their gambling business. This is no different than an IPO except that you don't get any voting rights or have a say who Wan appoints as CFO, who at this point could be anyone with links to the underground financial system found in China. There is so much wealth and money escaping mainland China right now that all the Macau IPO has to do is mop up that excess liquidity. The junket business is a different kettle of fish. How it works is simple. The casino needs a junket operator to underwrite a Chinese gambler and to do this, the casino will give the the junket operator a 2 percent spread in the value of NN chips. Now NN chips are non-negotiable chips used on the gambling table. You cannot redeem these chips for cash but you can use them at face value on the gambling table. This is what VIP gambling is all about in Macau. These VIPs will be given a credit line of millions if they are able to pledge a collateral in China to the Junket operator. If the VIP loses, the junket will take possession of the collateral and sell it for profit. The junket only takes a 2 percent cut from the value of the NN chips and it doesn't seem like much if you talk about a few thousand dollars but VIP gamblers have 'donated' billions in USD annually to Macau casinos. This means that the real value in the Macau ICO will depend on the China side, which at this point is somewhat grey. Over the last 5 years, VIP gambling has seen a sharp decline. It use to be 70 percent of the total gambling revenues in Macau but has shrunk to less than 50 percent. There was even a time when the VIP junkets were raking in so much money that Sheldon Adelson of Sands group tried to muscle in on the action by giving VIPs direct gambling credit. That didn't work very well since they have no control over any collateral. Macau gambling debts cannot be redeemed through the court system in mainland China. Punters who are gambling on ICOs will be eager to know why Hong Kong has been chosen to be the base. As a financial gateway into China, there is no beating Hong Kong. ICOs are not regulated as yet, though the HKMA did sound a warning recently on the risky nature of ICOs. If there is any regulation to be realized, it would be the control the tokens which act as securities for investors. The Macau ICO aims to raise US$500 million. The bulk of which will be used to fund the junket operations in Macau before the floating casino project gets its official blessing two years later. Wan isn't a fool to back such an ICO. It is his way to legitimize his business and retire from the public eye. Here is the bet. As long as gambling revenue is on the upswing in Macau, the junket business will be good, but with a 2 percent spread on profits, it is the collateral market in China that will finally dictate the success of the venture. Should real estate prices crash in China, much of the collateral held will be in decline. Remember that the collateral held by the junket still has to be sold at RMB$ and that has to be converted to BTC and ETH before it can be transferred out of China as profits. There are many elements to the deal which needs further research but I will give my two cents worth when the Macau ICO becomes official.
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      "body": "![wong_kuok_koi2-2-1.jpg](https://steemitimages.com/DQmdcdM8f72LgiS2isYc83DkiqavTtY8sVD5yMKUYtqrSFm/wong_kuok_koi2-2-1.jpg) <i>Broken Tooth with his Lambo </i>\n\nThere is no denying the interest to put your Bitcoin to use if you live in China. Ever since the crackdown started, BTC naysayers were rejoicing but their celebrations were short lived when it started to go up again, thanks largely to commercial investors like JP Morgan who were buying into the trade whenever even when CEO Jamie Dimon declared it to be a scam. \n\nSuch sharp declines are good for the speculative business. A month ago, BTC was at an all high of US$4.6K and today it is US$3.9K. By end September, when all BTC and ETH exchanges are to close officially in China, there should be a rush to clear the virtual currency from China and taking that value down even further. But the value of both BTC and ETH is going up against expectations. \n\nThe Internet is porous. When money can be denoted by a string of code to show ownership and value in the real world, any attempts by the authorities to catch hold of it would be like trying to hold on to vapour. \n\nMacau's first ICO will be led by Dragon Corp and its business partner, Wi Holding Company, where they plan to hold an initial coin offering for their new digital currency next month when they hope to raise $500 million. The twist to this problem is that they had received blessings from Wan Kuok-koi or Broken Tooth as he is fondly known. He was the Godfather of the 14K Triad group in Macau and to some point he still is. \n\nWhen I was in Macau, I was fascinated when a taxi driver taking me to Coloane village told me about the inmate who lived in luxury in that particular prison. It was Wan he was referring and his prison was housed next to the Police Academy in Macau. \n\nDuring the turf wars of 1996 and 1999, Wan was instrumental in controlling the underground and when the turf war erupted, Stanley Ho intervened with a warning to all the Triad bosses, the notice came from Beijing of course and it said in very few words that such turf wars will not be tolerated when the Portuguese enclave reverts to Chinese rule and that Beijing will make them all 'disappear'. Needless to say the fighting stopped. Wan's signature threat was the one the sent to the media where an unsigned letter was sent to several newspapers in the area. It said: \"Warning: From this day on it is forbidden to mention Broken Tooth Koi in the press; otherwise bullets will have no eyes, and knives and bullets will have no feelings.\"\n\nWan's undoing was his attempt to murder chief of police Antonio Marques Baptista, and Antonio promised to put him behind bars for 14 years, which he successfully did. \n\nFastforward to 2012, Wan was released and now a free man. The ICO was blessed by Wan and for some strange reason, it is just right up his alley too. \n\n<h3> Macau's first Casino ICO </h3>\n\nThe ICO is broken into two parts, the first being a floating casino and the second being a Junket operation in Macau. Now the floating casino isn't difficult to operate if you have the blessings from Stanley Ho. Apparently you can borrow a casino license for a fee and operate your own casino without much interference. This was probably the deal struck with Wan and Ho before he agreed to go to jail. That upon release, Beijing will give him a clean slate to start with. Beijing cleaned up the mess left behind by the Portuguese. \n\nYou have no idea how bad a place Macau was during Portuguese rule. There were scams run under the guise of tourism to rob tourist, the whole police force was on the take....right up to the High court judges. After the handover, peace came back to Macau and the quality of life actually improved under Chinese rule. The Casino industry opened up and Macau residents had their jobs protected from foreigners. All croupiers must be local residents and only selected jobs from the hotel and service industries can engage foreigners. \n\nThis is why the ICO taking place is important for Wan but the Junket business has taken a hit since Beijing choked the gambling enclave with a crackdown on illegal funding. \n\nFor those of you who have no idea what the junket business is like then read on. The Macau ICO taking place will allow you to invest in a gambling business that includes junket operations. There will be a token exchange, which you swap your BTC or ETH for a Macau Token. The Macau Token will act as a security to your share of their gambling business. \n\nThis is no different than an IPO except that you don't get any voting rights or have a say who Wan appoints as CFO, who at this point could be anyone with links to the underground financial system found in China. \n\nThere is so much wealth and money escaping mainland China right now that all the Macau IPO has to do is mop up that excess liquidity. \n\nThe junket business is a different kettle of fish. How it works is simple. The casino needs a junket operator to underwrite a Chinese gambler and to do this, the casino will give the the junket operator a 2 percent spread in the value of NN chips. Now NN chips are non-negotiable chips used on the gambling table. You cannot redeem these chips for cash but you can use them at face value on the gambling table. This is what VIP gambling is all about in Macau. \n\nThese VIPs will be given a credit line of millions if they are able to pledge a collateral in China to the Junket operator. If the VIP loses, the junket will take possession of the collateral and sell it for profit. The junket only takes a 2 percent cut from the value of the NN chips and it doesn't seem like much if you talk about a few thousand dollars but VIP gamblers have 'donated' billions in USD annually to Macau casinos. This means that the real value in the Macau ICO will depend on the China side, which at this point is somewhat grey. \n\nOver the last 5 years, VIP gambling has seen a sharp decline. It use to be 70 percent of the total gambling revenues in Macau but has shrunk to less than 50 percent. There was even a time when the VIP junkets were raking in so much money that Sheldon Adelson of Sands group tried to muscle in on the action by giving VIPs direct gambling credit. That didn't work very well since they have no control over any collateral. Macau gambling debts cannot be redeemed through the court system in mainland China. \n\nPunters who are gambling on ICOs will be eager to know why Hong Kong has been chosen to be the base. As a financial gateway into China, there is no beating Hong Kong. ICOs are not regulated as yet, though the HKMA did sound a warning recently on the risky nature of ICOs. If there is any regulation to be realized, it would be the control the tokens which act as securities for investors. \n\nThe Macau ICO aims to raise US$500 million. The bulk of which will be used to fund the junket operations in Macau before the floating casino project gets its official blessing two years later. \n\nWan isn't a fool to back such an ICO. It is his way to legitimize his business and retire from the public eye. Here is the bet. As long as gambling revenue is on the upswing in Macau, the junket business will be good, but with a 2 percent spread on profits, it is the collateral market in China that will finally dictate the success of the venture. Should real estate prices crash in China, much of the collateral held will be in decline. \n\nRemember that the collateral held by the junket still has to be sold at RMB$ and that has to be converted to BTC and ETH before it can be transferred out of China as profits. There are many elements to the deal which needs further research but I will give my two cents worth when the Macau ICO becomes official.",
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2017/09/27 02:31:57
authortechtribe
body@@ -2247,16 +2247,42 @@ Ho Tung + (Bosman was his sir name) , who by @@ -2551,16 +2551,196 @@ o Tung. +Robert Ho Tung made his money during the Opium era, where opium trading was legal in Hong Kong but illegal in China. Ho Tung was also known as the richest man in China at one time. %0A%0A!%5B952
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parent author
parent permlinkbitcoin
permlinkaml-and-kyc-issues-for-bitcoin-in-china
titleAML and KYC issues for Bitcoin in China
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Account Metadata

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[]