Alex Morris

Best Anonymous Bitcoin Wallets: Diving Deep Into Crypto Anarchy

U.Today tries to get rid of the prefix pseudo- while naming the best anonymous BTC wallet. Is your favorite anonymous Bitcoin wallet on our list?
Best Anonymous Bitcoin Wallets: Diving Deep Into Crypto Anarchy
Contents

Bitcoin is generally considered to be a completely anonymous cryptocurrency. Many believe that the king of crypto rose to prominence because of its privacy-oriented features – it saw the very first signs of adoption on the dark web, where people would buy illicit goods (drugs, guns and so on) without the fear of getting caught. However, is anonymous Bitcoin just a myth? How are Bitcoin transactions anonymous?    
image
Yes, Bitcoin transactions can be conducted without providing any personal details. However, the term ‘pseudonymous’ is often used in order to describe Bitcoin-related payments. Remember that there is still a wallet address, and all payments linked to this address will be forever recorded on an immutable Blockchain.

NB! Steven Goldfeder (Princeton University) states that it is possible to link the transaction to its owner in 60 percent of all cases.

The truth is, the lion’s share of Bitcoin holders see an anonymous wallet as a safeguard measure that wouldn’t allow third parties to steal their funds.  

In order to tackle this issue, those who value their identity can use some so-called ‘anonymous’ crypto wallets that integrate VPN in order to use different remote servers. It is worth mentioning that all Bitcoin wallets are inherently anonymous, but there are only a number of ones that specifically place an emphasis on hiding your identity while conducting a transaction. Our list includes some of the best anonymous crypto wallets.  

Samourai

Samourai wallet is your first option if your priority is to keep all your transactions anonymous. It is widely regarded as of the most privacy-conscious wallets on the market.     
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There is nothing outstanding when it comes to its security, but the wallet includes plenty of unique privacy features that allow it to stand out among other online Bitcoin wallets:

  • new public addresses created during every new transaction;

  • alerts that won’t let you use the same address.  

  • TOR/VPN support.  

Apart from these anonymity-related perks, it includes a bunch of other fancy features, such as ‘Ricochet Send’. Your transaction will be bounced multiple types off to various BTC addresses before another user eventually receives it. With four additional hops, it is supposed to solve the problem of blacklisting by a third party such as Coinbase. The Trusted Node feature, as the name suggests, allows connecting to any given node. On top of that, you can also set up SMS remote commands (you can either restore or wipe your wallet with the help of one simple command).

Darkwallet

The development of this legendary wallet is currently off, but we decided to put it in the limelight since it was one of the first wallets of that kind. Today, some prominent crypto pundits are calling for more regulations in order to get crypto out of a legal grey zone and reach new heights. Back in 2013, in sharp contrast to this, a group of anarchists launched a crowdfunding campaign in order to develop a completely anonymous Bitcoin wallet, dubbed ‘Dark Wallet’. According to their website, they are still in the alpha stage of the development process.
image
 

"If Bitcoin represents anything to us, it's the ability to forbid the government," says Cody Wilson, one of the key figures behind the project.  

Complete privacy is achieved by means of coin mixing, and one shouldn’t forget that this is also a Tor wallet. The multisig feature also appears to be a huge plus. However, use this wallet at your own risk since some users report bugs and transaction delays. Is this the price to pay for getting back to Bitcoin’s anarchistic roots?

NB! Darkwallet can only be downloaded in the form of a Google Chrome extension.

Bitlox

Bitlox is the only hardware wallet that offers extreme privacy with a bevy of safety-related solutions. You can achieve a high level of anonymity with the help of Tails OS (a free Debian-based OS). Their tool also works fine with the Tor browser.
image
Bitlox lets you create up to 100 wallets that can generate a plethora of different addresses that never repeat.

There are three versions of this wallet which differ in the level of security and their price tag:

Advanced

This version allows keeping about 100 wallets (which should be more than enough for a run-of-the-mill user).

Ultimate

A hardware wallet made of titanium will set you back $299 dollars. It also comes with an additional privacy perk – you are able to hide half of your created wallets for further enhancing your privacy.  

Extreme

The monstrous wallet with a military-level of security comes at an eye-popping price of $399. This is a safe bet if you are looking for the most anonymous Bitcoin wallet.    

Electrum

Electrum is yet another old-timer that appeared on the horizon back in 2011 when hardly anyone knew about Bitcoin’s existence. Thomas Voegtlin, a German computer scientist, is the brains behind the project.
The fact that this wallet has been operating for so many years in the ever-changing industry speaks volumes about its reliability. However, its interface doesn’t look beginner-friendly (in all fairness, the majority of privacy-oriented wallets are wont to have this feature).    
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Similarly to Bitlox, it is based on the Tails OS that was specifically designed to conserve the privacy of its users. Unfortunately, this Tails Bitcoin wallet cannot be installed on your mobile phone since its client-based version is the only available one. Still, Electrum is compatible with Ledger Nano S and a slew of other hardware wallets (Trezor, KeepKey, etc.).

Jaxx

U.Today has already included Jaxx on our list of the best altcoin wallets. Right now, Jaxx can be rightfully named one of the most popular wallets on the market, and partially achieved because of its multi-coin support.

While Jaxx deals with some technical issues, it’s definitely a perfect choice for those who want to go for an already established wallet.
image
Jaxx doesn’t keep your private keys on its servers, which means you will presiding over your coins even if the wallet stops operating.

Jaxx is not marketed as an ‘anonymous’ wallet. As we’ve mentioned above, all Bitcoin wallets are inherently anonymous (unless we talk about fiat-to-crypto exchanges), but Jaxx doesn’t even require your email address for registration.

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Rahakott

The Rahakott wallet is one more example of a wallet that is designed for conducting transactions in a hard-to-trace manner, despite the project being much younger compared to its competitors. On its website, they emphasize the fact that they do not require their users to provide personal data. The wallet offers a specific set of features that help provide an additional layer of privacy:

  • built-in mixer;

  • tunneling all transactions;

  • deterministic wallets.

Speaking of its safety-related peculiarities, it is worth mentioning that the Rahakott wallet is basically unhackable. Even the developers aren’t able to get access to the user’s info. You are only able to open your wallet after entering a mnemonic phrase.   
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Lastly, one should point out that this anonymous Bitcoin wallet supports BTC along with some popular altcoins, including Litecoin (LTC) and Bitcoin Cash (BCH). This is definitely one of the most private multi-coin Bitcoin wallets.

Other ways of buying Bitcoin completely anonymously include:

  • LocalBitcoins (you have to meet the seller in person without providing him any documents);

  • Bitcoin ATM (a good option for those who have plenty of cash on their hands; high fees could be a big turn-off);  
    NB! Some ATMs do require your ID before you can purchase crypto.   

  • Few C2C exchanges.    

The bottom line  

If you stick to web wallets, there are a few things that you can do in order to increase your privacy on the Internet. However, this is not a 100 percent guarantee that your transaction will remain anonymous.

After all, preserving your identity is not necessarily a good thing for Bitcoin. Last year, SocGen CEO Frederic Oudea stated that Bitcoin’s emphasis on privacy remains the main hindrance to its growth. There is too much risk involved when it comes to dealing with crypto.

‘The anonymity of the transaction is a problem I think which would put pressure on bitcoin’.

However, Bitcoin is only the tip of the iceberg since there are numerous privacy coins that grant their owners complete anonymity. Not surprisingly, these coins have become the darlings of the dark web in no time.

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How to Claim GAS on NEO: Guide How to Earn Free GAS

The concept of GAS allows NEO users to earn a good passive income just by keeping their coins. Here are several ways to get free GAS
How to Claim GAS on NEO: Guide How to Earn Free GAS
Contents

NEO is a Chinese Blockchain platform released in 2014. It was designed as a scalable and stable decentralized network for smart contracts and development. The main feature of NEO is decentralized applications, which can be made on different programming languages, including Javascript, C#, Python, Java, and Go. The core of NEO is written on C#.

An interesting fact about NEO is that the platform still works in China, where almost all cryptocurrencies and exchanges are forbidden. The Chinese government does not approve independent Blockchain technologies. That is why NEO cannot provide anonymous transactions. The team of developers is doing their best to comply with the Chinese jurisdiction, and this makes sense because China is a huge, not available for most competitors market.

NEO and Ethereum: what do they have in common?

As for technology, NEO is very similar to Ethereum. Both networks have smart contracts and decentralized apps as their main features. Ethereum was released in 2013, a year earlier than NEO. That is why many independent experts and journalists call NEO a Chinese clone of Ethereum.

However, it did not stop the NEO’s fast rise. It paid off a hundred times for the first investors. The price grew from less than $1 to $160 in 2017. Unfortunately, now it is only $16 because of a total reduction of the market.

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One more thing that Neo and Ethereum have in common is a special accessory coin for implementing transactions. In both platforms, it is called GAS.

What is the purpose of GAS?

A counting power of any network is restricted. It is not rational to provide free transactions in decentralized platforms as it will not bring any revenue. Every transaction must be paid for.

What is a transaction in NEO? Obviously, there are regular transactions which imply just sending money from one user to another. Things are getting more complicated when we are talking about decentralized apps.

DApps are literally bunches of code that any user can request. They are stored in Blockchain, and every time when the user requests it, the data is transmitted as a regular transaction.

The more complicated program the user requests, the more code has to be transmitted. Actually, anyone can design their own application and call it every time they need. Therefore, some issues have appeared.

If transactions were free, users would not think about rationality in their apps. For instance, someone could waste the network power just by writing such a code (it is pseudocode):

image

If you are not familiar with programming at all, just believe that this code has no end and the program can be stopped only by special platform restrictions.

In order to prevent such situations, every line of code you call should be paid for. It is not a big price, but it is necessary to make users design both powerful and rational code. The currency used for transactions is called NEO. The currency used to pay for transactions is called GAS.

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How is GAS produced?

The algorithm for producing GAS is very simple. NEO tokens generate a certain number of the GAS coins depending on how many of them there are in the wallet. It is actually another way of mining. Here your success depends on the number of coins you keep, not on the computing power you have.

To put it simply, the more NEO tokens you keep in your wallet, the more GAS you will get as a reward. The method is based on Proof-of-Stake technology implemented in NEO for verifying transactions.

The amount of GAS is restricted as well as the number of NEO tokens. In 2018, the total GAS supply is about 17 mln coins. The maximum supply is fixed and comprises 100 mln coins. According to NEO documentations, the limit will be reached in the next 22 years.

How to claim free GAS?

Finally, the main part of the article. How can we get free GAS? Actually, as it has been said before, GAS is always free because it is generated automatically. So, the question is where should you keep NEO to get a passive income? Well, there are three most perspective ways below.

Exchanges

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Some of the crypto exchanges allow their users to get GAS by keeping NEO. This is obviously the simplest way of earning GAS because it is quite easy to make an account on the exchange, and most importantly, it is free.

Talking about the disadvantages of this option, it should be mentioned that this is the most unsafe way of keeping coins. Exchanges are often being hacked, and even large platforms cannot ensure the 100% safety. The chance to be hacked is not that high to worry about it and rule out exchanges at all, but it is still there. I mention this because other methods in our top are 100% safe.

In 2018, you can claim GAS if you keep NEO on Binance or Kucoin. As it has been already mentioned, GAS is produced automatically from NEO tokens. So, what happens if the user decides to choose another exchange for keeping NEO? The answer is simple — other exchanges just keep your GAS rewards by themselves.

NEON wallet

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The NEON wallet is a local wallet allowing users to keep NEO on their computers. It is the safest way of dealing with cryptocurrency because the user has an access to their private keys, so no one can steal it. At least, until you do not lose your computer.

There are many different local wallets which support NEO, but the NEON wallet boasts three killer features:

  • It is stable and safe.

  • It is free.

  • It allows users to get their GAS reward.

You can download the NEON wallet on GitHub. After installation, you will just need to send NEO tokens to the new address. Once the transaction is finished, you will start getting GAS automatically.

Ledger Nano S

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Another 100% safe method of storing cryptocurrency is a physical hardware. The Ledger Nano S is one of the most popular models. It is much easier in usage than it seems.

Actually, the Ledger Nano S is a kind of minicomputer, but it has only one function — storing cryptocurrency. If you are not familiar with physical crypto-wallets, here are some instructions how to make it work.

It is important to note that the Ledger Nano S is just a hardware. You will also need to set up a local wallet to which the coins will be sent. I put exactly the Ledger Nano S in our top because it supports the NEON wallet.

In order to set up the wallet, you should install the Ledger Live software. It allows you to manage your devices and make transactions while all the data is stored in a physical wallet. After sending coins to the wallet, GAS will also start being produced automatically.

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Building a Litecoin Mining Rig- Step by Step Guide

💡 Cryptotips
Litecoin is seen as Bitcoin’s silver, so one way to pick up a few pieces of digital silver is to mine it yourself
Building a Litecoin Mining Rig- Step by Step Guide
Contents

How to start making money on cryptocurrency? The easiest way is building your own Litecoin mining rig! Learn to create a green-field mining rig: our step-by-step instruction will help you.

All of us are trying now to get into currency mining– it seems to be the easiest way to obtain crypto without investing mind-blowing sums of money. If you’re planning to become a miner, pay attention to such resource as Litecoin– one of the top-10 current cryptocurrencies that continues gaining value steadily. But don’t rush to search for a Litecoin mining rig for sale– you can save considerably doing it by yourself. This guide will teach you to build a Litecoin mining rig from scratch.

Why mining Litecoin?

why mining Litecoin

The golden days when you could mine Bitcoins on your PC or smartphone are over – the difficulty of mining has grown exponentially, and your investments in Bitcoin mining aren’t likely to pay off. Luckily, there’s a myriad of altcoins that are GPU-mineable, and Litecoin is one of them. Just like Bitcoin, Litecoin uses proof-of-work for building a chain, but the processing is several times faster, so it’s easier to mine. Litecoin price in May 2018 is $168 and is expected to continue growing. This is one of the most promising cryptocurrencies and is still not hard to mine.

Litecoin vs. Bitcoin: What to choose?

The difficulty of Bitcoin mining is overwhelming: today, it’s hard to mine this cryptocurrency on your own, while an ASIC Litecoin mining rig can still bring you a considerable revenue. Here are the main reasons for choosing Litecoin mining instead of traditional Bitcoins:

  • Litecoin mining is done with CPU.

  • Litecoin can be generated several times faster than Bitcoin (it takes about 150 seconds, and Litecoin transactions are pretty quick).

  • 84 mln of Litecoins will be generated versus 21 mln of Bitcoins.

  • There are many Litecoin mining pools– if you want to unite power with other Internet users, you’re free to do that.

What is mining?

Mining is the process of maintaining the Blockchain– the distributed ledger containing all transactions made. What miners do is receive the transaction details from different network participants and assemble the transactions into certain structures by finding a suitable hash.

Hash is the result of running a chunk of data through a cryptographic algorithm: the set of data will return only one hash. Hash cannot be used to obtain this data, but it ensures its safety and integrity. If one symbol in the string is changed, the hash will become unrecognizable. Since each block has the hash of the previous block, the network will know if someone attempted to insert a transaction into the ledger.

Mining is becoming more and more competitive: the first miner to generate a correct has is rewarded with Litecoins, the others get nothing. Therefore if you want to outperform the rivals, you need to have a lot of computing power. There is a specialized gear for mining– the hobby has turned into a real profession, and people around the world get involved by building mining farms and rigs.

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Creating a Litecoin mining rig in 2017 was a simple and profitable initiative, and it may still bring you a considerable revenue. You just need to organize facilities properly.

Create a wallet

Prior to building Litecoin mining rigs, you need to create a wallet where you will keep your coins. The easiest way is to open the homepage of the Litecoin and find the download link for the wallet app. If you have issues with that, there are numerous community forums on the Net. Most wallets are based on the Bitcoin-Qt client and they are reliable, but you may need to wait when the entire Blockchain downloads.

Choosing hardware for your DIY Litecoin mining rig

Instead of buying a ready system (which is hard to get and expensive), you can buy Litecoin mining rig hardware and assemble the unit on your own. Here’s what you’ll need:

  1. PSU (Power Supply Unit). A 1300 Wt PSU will be perfect, but if you cannot find one, try an alternative – get two 750 Wt units and connect them together using an add2psu adapter.

  2. Motherboard and CPU. With the average budget of $150, you can try H81 Pro BTC motherboard combined with Intel G3220 CPU. Alternatively, try MSI Z77A GD-65 with Intel Celeron G1620. Both are perfect non-expensive variants for mining.

  3. RAM. You can go with a non-expensive 4GB Kingston DDR3 RAM– it will be more than enough. However, if you’re going to use Reaper mining software or script-based mining solution, look for 8 Gb RAM.

  4. Powered Riser Cables (1x to 16x). Buy six cables – for each GPU. They are used to connect the graphic cards to the motherboard and organize space between them for better ventilation. Plug the 1x male end of the cable into the 1x or 16x slot on the motherboard, and connect the cable’s 16x slot to where you plug the graphic card into.

  5. Hard Drive. You will need an SSD drive to install the OS.

  6. Mining Case. This is where you will build a Litecoin mining rig. You can make a case on your own using tangled aluminum bought in the local hardware store or buy a ready one. There are plenty of custom built cases sold online.

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  1. Cooling Fans. You will need extra cooling to keep the temperature down in ever-working GPUs. Buy a box fan, it will cost you about $30.

  2. Keyboard, mouse, and monitor. You need them to configure the software only – to cut expenses, you can get the ones from your PC.

GPU – Which one is better?

The choice of graphic processing unit is crucial for the efficiency of your mining rig. In this table, we’ve performed Litecoin mining rig comparison based on the GPU models.

Model/Characteristics

Core Clock

Memory

Power Draw

Outputs

Nvidia GeForce GTX 1070

1,506 MHz

8GB GDDR5

150 Wt

3 x DisplayPort 1.4, 1 x HDMI 2.0, DL-DVI

AMD Radeon RX580

1,257MHz

8GB GDDR5

185 Wt

1 DisplayPort 1.4, 1 x HDMI 2.0

Nvidia GeForce GTX 1060

1,506 MHz

6GB GDDR5

120 Wt

3 x DisplayPort 1.4, 1 x HDMI 2.0, DL-DVI

AMD Radeon RX Vega 56

1,156MHz

8GB HBM2

210 Wt

3 x DisplayPort 1.4, 1 x HDMI 2.0

Nvidia GTX 1080 Ti

1,480MHz

11GB GDDR5X

250 Wt

3 x DisplayPort 1.4, 1 x HDMI 2.0

Nvidia GTX 1070 Ti

1,6070MHz

8GB GDDR5

180 Wt

3 x DisplayPort 1.4, 1 x HDMI 2.0

AMD Radeon RX580 is a real hit that’s always on demand among miners. However, this is the reason why it’s rarely in stock and people cannot find it in stores.

Operating System

If you know how to work with Linux, you can simply download it for free (some users suppose that Linux is the best variant for Litecoin mining– it ensures the best mining ROI). However, undervolting and overclocking is always better with Windows thanks to its powerful drivers. Windows 8 and Windows 10 are pretty good for mining. Although you can install an OS with a thumb drive, some prefer loading the OS from an install CD– do as convenient for you.

Advantages of mining on Linux OS:

- It’s free

- It already comes with mining software

- Its EthOS version is tailored for mining altcoins

- Easier remote management

- Reduced power consumption

Installation process

Now when the hardware and software are ready, you need to assemble the mining rig. Follow these steps to finish the process:

  1. Attach the CPU and fan to the motherboard and place RAM on the memory slot.

  2. Install the motherboard on the top of your frame/box and ensure that all ports for SATA, USB, mouse, and keyboard are accessible. Plug the riser cables in PCI-E slots of the motherboard.

  3. Connect each GPU to the corresponding riser cable and rest the bracket end on the edge of your frame. Screw GPUs on their places– don’t forget to make the holes beforehand, it will ease the task. Leave space between GPUs to ensure optimal ventilation.

  4. Connect the PSU to the CPU and your GPUs.

  5. Establish Internet connection. Wi-Fi USB adapter is the best option.

As soon as the hardware is assembled, you need to install OS and the corresponding mining software. Prior to installing all six GPUs, you can try connecting only one. If the processor sees it, and it’s working properly, install and connect all the rest. If the CPU cannot find them, you need to install drivers and specify the paths manually.

Double-check that things are working properly and make sure that cooling is sufficient– GPUs emit a lot of heat. To guarantee minimum downtime, try WatchDog timer– it reboots the mining rig in case of power outage and system failures.

Conclusion

Cryptocurrency is all around us, and there’s the whole gamut of possibilities to make money on it. If you need passive income, building a Litecoin mining rig is the golden opportunity you shouldn’t let slip by! Invest in hardware, follow this guide to create the rig, and soon you’ll be a proud owner of brand-new Litecoins.

Cryptotips
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Hong Kong Toughens up on Cryptocurrency

The Hong Kong Central Bank has issued a new cryptocurrency warning.
Hong Kong Toughens up on Cryptocurrency
Contents

Financialnews, a news outlet under the administration of the Peoples Bank of China (PBoC) — China’s central bank — has reported that China will be taking regulatory measures against overseas trading platforms that allow Chinese citizens to participate in ICOs. This announcement comes after China’s central bank has learned that China’s “Notice on Preventing the Financing Risk of Token Issuance” is being largely neglected by domestic investors and crypto-companies.

The fact that there were defiant actors in the country prompted the PBoC to write to seven ICO issuers warning them not to trade cryptocurrencies that are defined as "securities" by the Securities and Futures Ordinance (SFO) without a license. China’s Securities and Futures Commission (SFC) is worried that defiant actors are going to neglect the fact that the risks associated with Blockchain technologies and cryptocurrency domestically also exist abroad.

The September warning

On Sep. 4, 2017, the PBoC along with seven other ministries in China released the Notice on Preventing the Financing Risk of Token Issuance. The notice called for the immediate halting of ICOs and required all virtual currency exchanges in China to shut down by Sep. 30, 2017.

One of the main reasons China’s central bank issued the Notice on Preventing the Financing Risk of Token Issuance was to combat the inherent risk of investing in cryptocurrency. It is well known that the cryptocurrency market is largely unregulated, and because it is unregulated, the market is susceptible to the illegal issuance of projects, fraud, pyramid schemes, theft, and difficulty recovering losses.

Prior to today’s warning, the Securities and Futures Commission (SFC) issued two warnings to exchanges; one in September, banning all ICOs and another in December, regarding Bitcoin futures.

Regulatory attention

Recently, the entire globe has had its eye on the future of Blockchain technologies and cryptocurrency.  Earlier this week, the SEC and the CTFC had a hearing with congress regarding cryptocurrency regulation. The outcome of the meeting was that although a free market economy is important, it is believed that implementing regulation will be beneficial to the markets. If regulation is properly implemented and is implemented in the right areas, the cryptocurrency market will be secure to the point that it can be integrated with the traditional banking and finance system.

Today’s warning states,

“The SFC may not have jurisdiction over cryptocurrency exchanges and ICO issuers if they have no nexus with Hong Kong or do not provide trading services for cryptocurrencies which are ‘securities’ or ‘futures contracts.’ If, however, there is suspicion of fraud, the SFC is open to refer cases to the Police for investigation.”

Regarding the PBoC’s new warning, the SFC’s Chief Executive Officer Ian Alder says,

"We will continue to police the market and enforce when necessary, but we are also urging market professionals to do proper gatekeeping to prevent frauds or dubious fundraising and to assist us in ensuring compliance with the law."

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Fitness Monetized: Past ICO Review

👁 ICO Watch
Fitness tracker monetization attracts investors and Dallas Mavericks for partnerships
Fitness Monetized: Past ICO Review
Contents

Lithuania-based Lympo has developed an app to monetize fitness tracking and create an ecosystem around it where all participants are fairly compensated.

This sounds like a dream come true on paper, but will the app be able to work as promised?

Not so sure, as the app is slated to be ready in 2020. With a long wait time, fitness enthusiasts may look somewhere else.

Financials

The 11-day ICO ran between Feb. 17 and 28 this year and raised $16.8 mln. The token entered the market at $0.02 and at the time of writing is trading at $0.114 an increase of 450 percent in only four months, impressive!

There are one bln tokens in circulation and it has a market cap of $88 mln. A recent price surge is due to it recently being listed on Bitfinex and Ethfinex and signing deals with the Dallas Mavericks.

Love/hate

Mavericks’ owner Mark Cuban said to Bizjournals "the Mavericks found clear alignment with Lympo’s mission to create a healthier world by utilizing the latest technology to encourage fitness and healthy living in a whole new way."

The Mavericks deal is ironic because of Cuban’s stance against cryptocurrency. However, it was announced last year the Mavericks will begin accepting crypto payments for thing such as tickets, and merchandise. This an ironic turn of events coming from a guy who hates Bitcoin.

Fitness monetized

According to the website, Lympo is building an ecosystem that allows for users to be rewarded with Lympo tokens for healthy lifestyles and achieving fitness goals.

Additionally, Lympo wants to ensure that all data is used by all industry stakeholders and everyone is rewarded fairly. Lympo’s goals are the creation of:

  1. a Lympo Fitness Wallet
  2. a Marketplace
  3. a Lympo crowdfunding platform

The wallet would be used to store users’ rewards, which they could later spend in the marketplace on things such as hiring personal trainers and health service providers. The crowdfunding platform exists to serve as an investment platform for which new data-driven companies could invest into new apps to upgrade the Lympo experience. While this may sound great, and all stakeholders will be fairly rewarded, there is no definition of what that means?

How many tokens will a user get by running a mile or going to the gym? How much it cost for an hour of personal training?

This information is not available and it is reminiscent of a credit card points scheme, where $1 equals one point, but when you go to put that towards your balance, 100 points equals $1. Marketing ploys at their best.

Time is not on anyone’s side in crypto

While this is still a new app, there is still some time required until the technology goes lives and it can be used.

The recent add on some exchanges and the announcement of their first partnership are some major milestones for this startup.

However, the company must get their app up and running or all these big partnerships and announcements will be for nought.

The full release of the app and software is slated for 2020; a long, long time away in the cryptosphere.

On one hand, this gives them time to get the project completed correctly, but on the other hand, it puts investors on edge; seeing things happen so quickly in the cryptocurrency world, 1.5 years is a lot of time to wait.

Time is of the essence with crypto. If you are unable to maintain positive attention, then you will not be able to succeed.

By saying things will be ready to go almost two years later, leaves questions in many minds. In the meantime, investors could lose faith, competition could push Lympo out, lack of communications to the media makes people wary: is the company still working towards goals? Is there infighting? Is this a scam? Many will ask these questions.  

Lympo.lt was founded by Ada Jonuse, which was the initial platform to bring together individuals with personal trainers in Lithuania.

Jonuse is the founder and CEO of Lympo. She leads a team of 11 others that make up the base of the company.

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The Singularity Known for Sofia the Robot is Coming: Past-ICO Review

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Androids, robots, AI, the future is coming and it could be scary should AI seek to assert dominance over humankind
The Singularity Known for Sofia the Robot is Coming: Past-ICO Review
Contents

 

The Skynet Funding Bill is passed. The system goes online Aug. 4th, 1997. Human decisions are removed from strategic defense. Skynet begins to learn at a geometric rate. It becomes self-aware at 2:14 a.m. Eastern time, Aug. 29th. In a panic, they try to pull the plug. -The Terminator (1984)

Hanson Robots, known for Sofia the robot, is the creator of SingularityNET. If the above quote is anything like the AI SingularityNET is developing, then there could be the reason to be very afraid.

SingularityNET is building a decentralized marketplace for AI services. SingularityNET lets anyone create, share, and monetize AI services at scale. It's a full-stack AI solution powered by a decentralized protocol.

While anyone can launch and monetize AI services using the SingularityNET platform, the company has an internal team of more than 50 researchers, who will seed the network with an initial batch of services such as: network services, social media analytics, biomedical data analytics, GHOST-powered chatbots, social robotics and DNN model training and neuroevolution, among others.

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When the machines rise, money will become worthless

In 24 hours, well it was really only 60 seconds, SingularityNET raised $32.8 mln from token sales on Dec 22.

The token entered the market on $0.53 and shot up to a high of $1.53 in a matter of days, but then fell down to $0.67 only two weeks later at the beginning of February. Currently, at the time of writing, the price of one token is down to $0.09.

With all this great potential of decentralized AI, why is the price so low? The token, known as AGI is a utility token and not an equity or investment token. Furthermore, the market has been in a major slump for much of 2018, explaining the low price. The token debuted when the crypto market was at its highest and hottest peak, now the markets have been in a corrective phase.

Team

Ben Goertzel- CEO and Chief Scientist

Goertzel is also the chief scientist of financial prediction firm Aidyia Holdings and robotics firm Hanson Robotics; chairman of AI software company Novamente LLC, a privately held software company, Goertzel’s list of employment is long and he indeed has much experience in the fields of math, robotics, AI and quantitative systems.

Cassio Pennachin- Chief AI Officer

Pennachin has more than 20 years experience in AI, having led several firms in AI such as Novamente LLC, and Aidyia Limited among others.

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The Future is unclear for both humankind and SingularityNET

SingularityNET brings together important technologies that will most likely lead the tech industry for the next decade. The ability to quickly and easily purchase AI algorithms is going to be a significantly powerful market in the upcoming future.

The biggest concern with this platform is the unforeseen consequences of decentralizing and democratizing the power of AI for whatever purpose the user intends.

There is a real danger that could occur from having an anonymous market of people purchasing very powerful AI services. AI could be considered the next nuclear arms race due to the fact that the technology can literally do anything its programmed for or whatever it can devise on its own.

That being said, the ultimate goal of SingularityNET is to create an AI that physically interacts with humans through hardware, i.e. robots, androids and others. There could also be a series of dangerous consequences if this idea actually becomes successful and reaches its mission.

While the token prices tanked, it is a utility token, the company has much potential, it has in conjunction with Hanson Robots produced a true android and aspires to do much, much more. However, while it may seem like tinkering with AI now, it could really turn out to be something far dire and harmful to mankind.  

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