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What TRON’s $100 Million Blockchain Gaming Fund Indicates

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One of the first use cases first explored by member of the cryptocurrency community was the role of crypto in video games. Unfortunately, the most recent wave of blockchain games has primarily fallen flat. What effect could the TRON Arcade fund have on this pivotal niche?

On November 29th, TRON announced a three year, US$100 million investment fund. This fund, coined TRON Arcade, will incentivize and empower developers who build blockchain gaming solutions on the TRON network. This can be seen as yet another initiative by the network to try and coerce activity to migrate from Ethereum to TRON.

In all fairness, Ethereum has fallen short in every metric regarding blockchain gaming. Simple games, that barely qualify as fostering actual “gameplay”, such as CryptoKitties have completely clogged the ETH network in the past. Gameplay that has taken place has been incredibly sparse, slow, and expensive. At its fundamental core, the speed and throughput of the network combined with inefficient handling of data suggests that Ethereum simply isn’t a compatible host for blockchain gaming activity.

Alas, this heavyweight fund, combined with a TRON network that is better situated for fast-paced, resource-intensive activities could act as a major catalyst to help bring blockchain gaming up-to-speed with mainstream counterparts. As several major players in gaming have already began to toy with blockchain integration, a proliferation of the niche by TRON could inevitably urge many of the blockchain-curious Triple A studios to begin developing blockchain and cryptocurrency games.

For TRON fans that are interested in blockchain gaming, this move might evoke mixed reactions. Of course, TRON Arcade will likely have a major impact on the niche, but this announcement also undermines the role of TRON subsidiary Game.com (GTC). Game.com is a social gaming platform that dates back to the start of the year.  After hitting an all-time high market cap in April of roughly US$250 million, GTC has been bleeding severely. Prior to the Arcade announcement, Game.com was teetering around the $6.5 million mark. However, it fell significantly to a current market cap of $5 million in response to the announcement, as speculators suggest the Arcade fund means TRON plans to phase out interactions with GTC.

In relation to the crypto space as a whole, utilization of TRON’s warchest is a stark contrast to many of the projects that have tried to stretch funds as long as possible, with some even being forced to fold already. TRON’s relative success in the recent crashes means that the market values effective business negotiations, perhaps even moreso than tangible developments.

This blockchain gaming fund is not the first big spending by TRON. In the summer, the project purchased BitTorrent for a cool US$140 million. As the project continues to trek through the bear market, the focus of developments may turn to the projects and coins that are equipped to generate profit and armed with enough funds to build a business.

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Crypto market colored in red; Bitcoin languishes under $3,400

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  • Altcoins resumed the downside after a short-lived recovery.
  • Bitcoin returned to $3,300 after an attempt to break above $3,600.

The cryptocurrency market was short-lived. Once again. Bitcoin and other major altcoins resumed the downside movement on Monday with the total capitalization of digital assets in circulation dropped below $110B, killing hopes to witness good bullish trend into the year-end. Prices bumped into resistance levels unable to instigate buying interest amid pessimistic sentiments that gripped the market.

Stephen Innes from Oanda is among those who prefer to hold off on calling the bottom on the cryptocurrency market.  He believes that we still do not have a convincing use case for Bitcoin and the absence of good non-speculative reasons to buy it makes the situation worse.

“Bitcoins have gone well beyond the ridiculousness of tulip bulb mania, It’s has been a disastrous year for cryptos, and by all indication, the current bear market could go from bad to worse with no fundamental or underlying reasons to buy BTC even more so when the only support offered up is a squiggly line on an analyst chart,” he commented.

Bitcoin has lost nearly 4 % since this time on Monday to trade at $3,380 at the time of writing. The first digital coin smashed both $3,500 and $3,400 handles after a failed attempt to settle above $3,600. Lack of buying interest may increase the short-term pressure on BTC that has already lost about 84% from its all-time high of $19,000.

Ethereum, the third largest digital asset, stays under critical $100. ETH/USD is changing hands at $90.00, having lost 3.7% in the recent 24 hours. The coin’s market value is dropped at $9.4B, while the average trading volumes have settled at $1.7B, down from $2.5B at the end of the previous week. Ethereum network is getting ready for a pivotal Constantinopole update scheduled for January 2019, which puts the coin under additional pressure.

Ripple’s XRP is trading marginally above $0.30 within the strong bearish trend. The coin is 3% lower on a day-on-day basis and mostly unchanged since the beginning of Tuesday. The second largest coin with market value $12.3B is dominated by bearish sentiments of the cryptocurrency market. Irresponsive to fundamental news, the coin is likely to stay volatile.

All major altcoins out of top-20 are in red, losing from 1% to 10% as bears are back at the driving wheel.

Source: fxstreet

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Nouriel Roubini and Anthony Pompliano’s “Buffet Bet 2.0” feud rages in the Twitter-verse

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Anthony Pompliano, a Bitcoin enthusiast and the founder of Morgan Creek digital asset recently set off a bet, now being called as the Buffet Bet 2.0, putting $1 million at stake. The bet by Pompliano is a competition between the performance of S&P 500 index and cryptocurrencies as a whole.

Roubini being himself had an opinion on this bet and bad-mouthed Pompliano and his bet, which led Pompliano to invite him to go against the bet. The feud continued as Roubini took to his Twitter saying that Pomp is “changing goal posts” and “talking books all day”.

To Roubini’s Tweet, Pompliano replied:“Talk is cheap. You taking the bet or going to Monday morning quarterback this one?

🙂
If you want to check out the index, you can see it here digitalassetindexfund.com”

On December 10, Roubini erupted the feud again when he Tweeted:“You take bets only when there is no counter-party risk, ie when the side losing the bet is still there to pay it. The loser pompous @APompliano who lost 80% for investors in his shitcoin fund is only seeking attention with his bet. His fund will be BUST/GONE well before 10 years”

Pompliano replied to him saying that Roubini was the candidate for the worst call of the decade.

Mark W. Yusko, the co-founder of Morgan Creek Digital also replied to Roubini’s above-mentioned thread saying that there was zero counter-party risk in the “Buffet Bet”.

A Twitter user Bitvillain replied to the same thread:“Sounds like an easy win for you Nouriel. I think there are plenty of good charities that you could donate your winnings to. Take the bet! Surely the odds of crypto beating the S&P 500 over 10 years is close to zero. What could possibly go wrong?”

Meanwhile, on the other side of Twitter-verse, an S&P believer, Jim O’Shaughnessy, Chairman & Chief Investment Officer, OSAM, bet against the cryptocurrencies in his tweet saying that he was up for the bet.

O’Shaughnessy in subsequent tweets said that the bet was not going to happen. He tweeted:“[email protected] won’t do it, @patrick_oshag (my son, the least-millennial millennial I have ever met) is tired of talking about crypto, so, no bet from us. Ah well…

Source.ambcrypto

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Redditors ‘unearth’ Bitcoin’s Satoshi Nakamoto, he says I don’t want the attention

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Opinion: The bear market of 2018 gets more aggressive and painful as the year comes to a bitter end. Bitcoin has suffered quite an excruciating fall ever since it reached an all-time high back in December 2017.

The market cap of Bitcoin has slumped from a massive $336 billion to $60 billion, which is a massive decrease of ~82%. The altcoins have followed Bitcoin and most of them have also declined by 80% since their all-time highs.

Apart from the bear market, the US Securities and Exchange Commission [SEC] has tightened the noose around ICOs, causing a sharp decline in fraudulent ICOs and exchanges.

Many enthusiasts had also pinned down the hash wars between Roger Ver and Craig S Wright that ensued this year to have played a crucial role in Bitcoin breaking the $6,500 support and collapsing as low as $3,200.

Despite the bear market, crypto enthusiasts find something to look forward to, something to hope for. In their mission to find the light at the end of the tunnel, a Reddit user MATURBO, and other Redditors have unearthed videos of a YouTuber called davincij15, who used to post videos about investing in Gold and Silver back in 2009.

The Reddit thread posted by MATURBO discusses and claims that the person could actually be Satoshi Nakamoto. Although this seems like a far-fetched speculation, there are certain points that Davinci spoke about in his videos that might sway the decisions of people who are skeptical.

The Redditors are surprised with his “accurate predictions” of a lot of major events in the Bitcoin ecosystem.

On June 1, 2011, he posted a video titled “The power of Bitcoin vs Gold and Silver”, in which he spoke about Bitcoin and how it was revolutionary.

In the same video he said:“I don’t know why you don’t see how this is a new powerful currency that will change the landscape of the internet and probably the rest of our world. Gold and silver are always going to be the money, but this allows you the convenience of sending somebody money all the way around the world.”

He added:“… correct me if I’m wrong but there’s a lot of central authorities have been cheating us over the past hundred years… but this new bitcoin currency allows us to operate globally in a fast and efficient manner so we can operate locally with our silver and globally with bitcoins.”

On a video dated January 26, 2013, and titled “Remove your bitcoins from Mtgox”, he suggested users to “abandon Mt. Gox” and “move their money out from Mt. Gox” as Mt. Gox was being attacked by the US government and banksters.

Surely enough, on August 5, 2013, Mt. Gox announced that it incurred “significant losses” due to crediting deposits which had not fully cleared and that new deposits would no longer be credited until the transfer of funds was fully completed.

To make matters more interesting, on December 4, 2017, a video titled “Bitcoin Price Comment” he said that Bitcoin has saturated and that people should not buy Bitcoins at this point. He stated:“and I still think you should you should take some profits I mean close to $20,000…I cannot endorse someone buying bitcoins right now so that’s my comment.”

In the same video he also said:“I mean it’s it’s a little bit ridiculous… I see it quite a lot higher prices than it is right now I see it doing like a $100,000 the next time it does a big run like this, close to a $100,000.”

Now, this might all seem like a long shot, but apart from actually talking about Bitcoin, he has made videos about investing in silver and gold.

On January 6, 2009, Davincij15, posted a video named “Who is DavinciJ15?”, which was an “Ask Me Anything” video of sorts.

While speaking about gold and silver and giving his opinion on it, he addresses a few real-world problems in the financial sector, like the paper money, centralization by governments, middle-man fees etc.

He commented:“Yep paper gold is a fraud! Keep your gold it does not require anyone to pay it back.”

“A dollar today is worth more than a dollar in the future. Why? Because the Federal Reserve and the government are creating it like crazy and they are not going to stop. Whatever you decide to do try to get the payment as small as possible interest only if you can.”

He also talks about the short-comings the banks had and have while addressing a need for “monetary freedom”, which were among the reasons why Satoshi Nakamoto developed Bitcoin in the first place.“Maybe not a gold standard but monetary freedom where anyone can accept anything as money and contracts are enforced by law.”

Taken aback by his accurate predictions, redditors are speculating that he could be the real Satoshi Nakamoto.

A redditor, c5corvetter commented:“This guy understood the concept behind bitcoin and what it could actually mean for e-commerce before 99.99999999% of others did. It wasn’t FOMO, it wasn’t luck, he understood the basis of bitcoin. One of his comments was “One day those same 10 coins will get you 10 oz of gold”. I’m positive this guy is a multi-millionaire now if he kept that mindset and kept mining.”

Another Redditor, RobelS commented:“What if this guy is Satoshi nakamoto. He is still vouching for Bitcoin to this day btw”

Moneymakessense29, replied to RobelS saying:“I’ve been following him and the thought has crossed my mind, he moved to a discreet location in Chile and he’s a software developer…. hmmm”

EuW_MadWard suggests him being the real Satoshi as he commented:“To the question “Are you holding BTC now and/or buying?” he replied:

“Yes and no it’s complicated”.
That’s because he’s Satoshi, and he’s technically “holding” BTC just because if he didn’t the whole thing would come crumbling down.
We found him gents!”

After reaching out to him about the whole Reddit claiming him to be the real Satoshi Nakamoto, he replied saying that he was just a normal person.

Davinci denied being the actual Satoshi Nakamoto, be that as it may, he also predicted that Bitcoin would be revolutionary and change the way we do payments. He even warned his audience to clear off funds from Mt. Gox before it happened and even advised users to take off some profits at $20,000.

It could have been sheer luck if what he predicted was right just once, but three times in a row seems like a lot more than luck. He is either well-informed or the actual Satoshi Nakamoto as the redditors are discussing.

Source.ambcrypto

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