What is Money?
Money, what is this thing? Is it gold, well it used to be. Is it love, well, it has become that. Is it a need, well Buddha lived without it. Is it a weapon well it could be used to buy them. Money is evolving and it is helping and enabling whole large ass chunks of societies with it. It is some creative, outer space incepted, unicorn-poop, dangly cluster-fuck of a creation that has driven countries mad and turned the world into a concrete jungle. No, we are not haters like that, it is just what it is. Money turns the world bonkers, while it continues to fuel things, empower people and help charities do all their good work. We have no intention of being a warmonger, just shining some light into the true side of things.
What has changed now?
We are stuck up people who have evolved from apes. Similarly, our money has evolved from barter, trade, giant gold coins, gold bricks, copper, metal, to paper money backed up by an international gold standard, to fiat and now to bitcoin and its descendants. That is a hell of a journey. The journey of the first bank by the Medici family in Spain, during the late 2000 BC, to the case of a 100-year-old bank by the Leeman Brothers failed, to today’s state of the art blockchain developments that are identical to banks, has been harder on its own people.
Perhaps this is the way that capitalism and meritocracy works. Or the myth of meritocracy and as some ancient medieval souls call it, fate has done more harm than good, but today technologies that empower self-employment and decentralization are ready to put forth an unprecedented battle. And people are shaken.
Something like 30 years ago, when Mario Kart first came out our notions of money were shooketh. A kid from that time would have had a heavy time explaining to their parents how does the game money matter, why are we collecting that gold, what for, why when there is no value of it. Sure, yes, it is a game, sure it is fun to play, sure Pacman eats cheese and this is a tad bit more creative than that, sure this is the new narrative and all the Atari’s, King Kong’s and Family computers can be cooler but we are liking ourselves right now and its all because of Mario, his girl, and their gold coins.
the fuck is transparent money?
No, it is not physically transparent, although it can be argued that it is, that beautiful and pun-loaded argument is for another time. Transparent money is crystal clear and written in stone, a digital stone. The etching in stone here really means that no changes can be made to it, well, you can try, as people try, but at some time people catch up and they find what the fuck is happening after all. The system is self-guarding and the participants work as a team not as a team working under a person, authority or ruler, but as a democratic and truly decentralized team that agrees on a consensus that gives it all the intellect it needs to be self-sufficient and effective.
Digital money, internet money, cryptos, whatever you call them, whatever people may call them, they changed humanity. This was the biggest disruption of a lazy industry that wouldn’t change itself that mankind has seen so far in the history of disruption.
Money is now transparent, i.e it can be asked about who has done what to it, with it, when, how, why and what not. It has all the answers people need that fiat fails to provide. The record keeping is kept forever. It is decentralized, this means that bitcoin is not owned by some Leeman Brothers, so the double spending really is not possible, it is smart that way.
Bitcoin is for everyone. Finally, Martin Luther King Jr. can have his dream. Finally, the Lincoln Memorial can be visited with lesser guilt, pain, and shame. Because, bitcoin does not differentiate people and discriminate them on the basis of their color, creed, caste, status or nationality. It is the true essence of a world of tomorrow and it means major political and social changes are to follow us. Because now money can be free for all to use, even if banks fail people, communities, refugees, and countries, bitcoin does not.
Claims That Former TRON CTO Was Sacked For Bribery & Theft Surface
Earlier this month, the Chief Techincal Officer of TRON, Lucien Chen announced his departure from the project. He had been with TRON since 2017 and laid out a three-point explanation as to why TRON just isn’t TRON anymore.
Following the announcement by Chen, the TRON PR sprung into action and according to the representatives from the project, Chen was actually sacked from his position months ago because:
“Suspicion of misappropriation of funds, bribery, competitive infringement, and theft of trade secrets and intellectual property.”
The CEO and founder of TRON, Justin Sun lent validation to this claim by retweeting it and a Reddit thread came up which relayed this information to the community.
A reported response from @Tronfoundation on the dismissal of CTO Lucien Chen, J. Zhu & X. Xie in Jan 2019 due to suspicion of misappropriation of funds, bribery, competitive infringement, & theft of trade secrets & intellectual property#TRON Reddit link:https://t.co/LeotF31NsS pic.twitter.com/RYMsn2J9rw
— Misha Lederman (@mishalederman) May 11, 2019
Giving his reasons for leaving, Chen said:
“The whole project has developed into a monetary tool without any “decentralize the web” spirit… The technology platform of TRON was built by me. I certainly know that the real Internet applications cannot function in TRON network at all currently. The TRON ecosystem is still far from commercial applications that users can really apply to.”
There are now claims that the former CTO was bribing people, misappropriately using funds, theft and so on. A post on Reddit claims:
“Chen, Zhu, and Xie were dismissed in January, 2019 for violation of corporate policies and the law. Relevant documents and materials have been handed over to the judiciary.”
Living on Bitcoin Just Got Even Easier, AT&T Accept Crypto Payments With Bitpay
Earlier today, US telecom giant AT&T proudly announced that it had become the first major American mobile carrier to accept crypto assets for the payment of bills. Customers will be able to settle their accounts using Bitcoin thanks to a deal with BitPay.
Although such developments are great for those earning in Bitcoin, for most people interested in the number one digital currency, the appeal will likely be limited. They therefore do not quite represent the holy grail’s of crypto adoption many portray them to be.
AT&T to Accept Bitcoin Payments Through BitPay
It’s getting easier than ever to live your life exclusively using digital currency. More and more online merchants are opening up to crypto assets in one way or another.
Many with a vested interest in digital currency were excited recently by the news that several large companies would be accepting Bitcoin payments – albeit in a round about way. Bitcoin users can now kit out their wardrobes at Nordstrom, shop for gaming supplies at GameStop, and even pay directly for their groceries at Whole Foods using their favourite digital currency.
This latter point got people particularly excited given that internet retail behemoth Amazon owns WholeFoods. Speculation is rife that Amazon itself could be next to accept Bitcoin via this convoluted method of using a payment processor to pay with a peer-to-peer currency.
You see, part of the recent wave of increased acceptance has been made possible by a deal between crypto exchange Gemini and a payments start-up called Flexa. Users actually pay using an application called Spedn. The merchants themselves don’t receive Bitcoin but they for very little investment they can look supportive of uber-trendy things like cryptocurrency.
The latest company to join the pseudo acceptance bandwagon is US mobile giant AT&T. It announcedvia a blog post earlier today that it would be using crypto payments processing company BitPay to receive payments from its customers online.
In the AT&T press release, Kevin McDorman, the vice president of the company’s business operations, stated of the move:
“We’re always looking for ways to improve and expand our services… We have customers who use cryptocurrency, and we are happy we can offer them a way to pay their bills with the method they prefer.”
Sure, It’s Great for Crypto USERS, Not so Much for Speculators
Just like the other recent announcements of so-called merchant acceptance, this is not really the bullish news that many have made it out to be. Since AT&T will be using BitPay to process payments, they will simply receive dollars as they always would have done. To get those dollars, the Bitcoin is immediately sold creating additional downside pressure on the price of Bitcoin. For those purely speculating, it should be realised that by using such services you are increasing the likelihood of dropping the price of Bitcoin. It will be truly exciting when a major retailers takes payment directly in Bitcoin themselves and goes on to finance the business itself using the crypto asset.
Of course, these stories of increased acceptance are great for those who get paid in Bitcoin and don’t want to have to deal with an exchange just to go about their daily routines. Having more options than ever to spend crypto directly at is certainly advantageous for those trying to live without fiat.
Bitcoin [BTC] Going Above $7,950 will Start Another Breakout – Analyst
Bitcoin has been in a slight pullback for a few days now and those who have been watching the charts during this time may be confused as to the direction Bitcoin, and indeed the whole market is going next. A cryptocurrency trader known as DonAlt on Twitter has given some light on the market. He said the lead currency will see some light if it manages to rise to $7,950 from the current $7,842 price.
When will this happen?
Bitcoin grew really fast especially in May, rising way above $8,000 and the crypto community expected a move towards $10,000. However, the market started pulling back in what seemed to be a crash, but analysts said was normal. At the time, the cryptocurrency was said to be growing too fast and needed to correct again before rising at a slower pace.
This seems to agree with DonAlt’s position as the cryptocurrency has eventually corrected but its growth has become significantly slower than before. Another analyst Josh Rager says the asset will be consolidating this week and great volatility should be expected on Friday, May 31st. This may eventually lead to a climb to DonAlt’s critical $7,950 price and the long-awaited recovery above $8,000 again.
$BTC – Price movement
Expect consolidation to happen through this week
Major volatility likely by Fri May 31st with the CME BTC futures expiration
This is also the apex of the meme triangle apex (condensing price)
Support/Resistance areas labeled pic.twitter.com/S5SFBV6uXk
— Josh Rager 📈 (@Josh_Rager) May 23, 2019
A long-awaited rise
The initial price rise evidently raised the expectations of the crypto community and many Bitcoin holders cannot wait for the price to go up again. Not only that, altcoins were expected to rise with Bitcoin’s pullback but the current one has held down even the alts. The rise of Bitcoin is currently probably the only hope for the market and the entire space is looking forward to it.