SingUlarity Evgeny Konstantinov

On Crypto Anarchy and Cyber Liberty: Opinion

SingUlarity
Self-consciousness of the society is a myth?
On Crypto Anarchy and Cyber Liberty: Opinion
Contents

Timothy May is a formidable figure on the cryptography and privacy scene and a voluminous writer on all things cypherpunk. His peak work was in the 90s, but it hasn’t aged much, and the recent waves of Blockchain popularity and interest make it all the fresher.

Tim May penned the highly influential The Crypto Anarchist Manifesto in 1988 and coined the term “crypto anarchy”.

I highly suggest that you read his essay Crypto Anarchy and Virtual Communities, which is a fantastic piece printed back in 1994 and that is very prescient on a lot of points of what’s happening today.

There’s a piece from the essay that I’d like to particularly dwell on that recounts how Tim May came up with the word “crypto anarchy” and what he meant by that:

I devised the term crypto anarchy as a pun on crypto, meaning “hidden,” on the use of “crypto” in combination with political views (as in Gore Vidal’s famous charge to William F. Buckley: “You’re crypto fascist!”) and of course because the technology of crypto makes this form of anarchy possible. The first presentation of this term was in a 1988 “Manifesto,” whimsically patterned after another famous Crypto Anarchy and Virtual Communities manifesto. Perhaps a more popularly understandable term, such as “cyber liberty,” might have some advantages, but crypto anarchy has its own charm, I think.

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Cyber liberty

Think of the term “cyber liberty” as this is where I’d like to deviate a little from what’s elaborated upon in “Crypto Anarchy and Virtual Communities” and put it in the perspective of today.

Whether we like it or not, the words anarchy and crypto anarchy can be a boogeyman to the general public, and Tim May went along with the term because he liked it, but the “cyber liberty” might be more fitting by his own admission.

At its essence — and if you remove any emotion and the multitude of connotations that weight the word down — anarchy means that communities and community members can function in a highly conscious state. In a state in which they can freely cooperate and self-govern without the need of the government. Anarchy is not about actively getting rid of the government; it’s about operating as a tightly knit community.

And yet the term “cyber liberty” is a better one and is extremely fitting today.

With the spread of mobile technology, mobile money has become not only popular and accessible but pretty much a necessity to a lot of people. Today, there are about 168 million active mobile money accounts worldwide, and the center of its active use is Africa. In Zimbabwe — to bring forth the most salient example — 96% of all transactions are the electronic mobile ones.

What happens is that with the spread of technology — cheap smartphones as in the case with Africa — more and more people are joining the world economy and getting the means to cross the local boundaries. What would people in Zimbabwe use for money, when their national currency completely collapsed, were it not for the access to technology, and cheap access too? This is cyber liberty. Albeit a limited one, but liberty nonetheless.

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Chasing the opportunities of cyber liberty

The advance and spread of the Blockchain technology gives even more opportunities for people to go translocal and transborder. All that people need is a device, an Internet connection, and a willingness to learn. This is not to say that all three of these are easy to accomplish, but they are a possibility and they are opportunities.

While mobile money is just that — a currency, even though a currency that’s convenient and even life-saving to some, that also gives a taste of joining the world economy, the Blockchain is the next step and the opportunities that come with it are truly fitting the term “cyber liberty”.

Imagine being able to generate content regardless of where you are and be paid for it. Imagine being able to grow your community and online presence and be rewarded for it. Imagine realizing that your attention is actually worth something. Think of what happens when it dawns on people that the effort of learning, exchanging information, and sharing the knowledge is what has a direct and inalienable value. The value that is also financial and all of it is a part of a vast ecosystem.

No boundaries. Hassle free. You immediately gain by merely becoming a part of the world economy, and all you need for it is a device (not necessarily a powerful one), a connection, and a willingness to learn. This is what is U°Community, among other things. An easy way into becoming part of the economy and an understanding that you, your attention, your effort, and your drive are worth a lot. And your value is inalienable.

This is cyber liberty.

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Overview of Six Types of People in Cryptocurrency Community

In honor of Telegram’s importance in the crypto world, we take a look at the most common types of people on the platform.
Overview of Six Types of People in Cryptocurrency Community
Contents

Telegram is going to launch a $1.2 bln ICO and issue its own cryptocurrency, according to TechCrunch. Telegram founder Pavel Durov neither confirmed nor denied plans for an ICO, but during an interview with Bloomberg, he praised Bitcoin. He said that Bitcoin is a kind of digital gold, and the 2,000 BTC that he bought for $1.5 mln is now worth $33.5 mln.  

Telegram is the main communication center for millions of people. And like in any real-life community, virtual communities feature they have several basic types of members. Here are some archetypes you’re likely to meet in Telegram channels.

1. An alarmist

 

 

Users of this type are notable for the highest activity in channels, making themselves and others crazy. A panic-monger declares his eternal love to the project and all the users quite often, but immediately switches to anger at the first signs of problems. Basic vocabulary includes: I love everyone. HODL. I truly believe in the project. I want the refund and my coins back! I hate you! Give my money back! It’s a scam! A fraud! Everything’s gone! I wish I had listened to my mother! Run, you fools!

2. A person with “connections”

 

 

This kind of user usually demonstrates their knowledge of all world jurisdictions, connections in the CIA, the law courts and presidents. Basic vocabulary: You’re in big trouble. I have reported everything to the SEC already. You may start panicking because the FBI is keeping an eye on you.

3. A believer

It’s the major category of users in every crypto Telegram channel. They invest their own money not only to get the profit but because of their trust in the project and the team. These people are the core audience of every project and they support and inspire the team. They are the most loyal followers of the product and the ones who display understanding and patience during the development. This audience is mainly represented by experienced cryptocurrency enthusiasts and analysts who read almost every message and monitor every reference in the media. They usually investigate all the issues on their own and sometimes share the answers with the others.

 

4. A reseller

This user comes to projects with one aim: to buy low and sell high. He doesn’t care what kind of product is under development, or what’s the idea behind it, or who’s on the team. He hardly ever reads the white paper. Basic vocabulary: When’s the listing? Come on, guys, hurry up! I can’t wait to see $100 for a token within a month.

5. Forever banned user

A user of this type always floods and gets banned for it each time. Then he creates a new account and starts all over again. Basic vocabulary: Why am I banned again? I invested a million dollars and got banned here. Why?

 

6. Sarcastic troll

A user who appears online once every month and asks the same questions every time: "So, how are you doing here? Has the project collapsed yet?" He disappears then and usually comes back a month later with the same questions and jokes.

 

Each token sale is unique. Telegram is not just another messaging service; it means a lot to the crypto community. It’s the primary way to keep up with the thousands of ICO projects on the market. Telegram is not monetized at the moment, although it’s potential is quite high: its ICO can become the biggest one in history.

Alexander Borodich, venture investor, Forbes contributor, CEO of Universa.io.

P.S. to editor: the pictures are drawn by us


 

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Robinhood Launches Cryptocurrency Trading

Robinhood trading app has launched their cryptocurrency trading service.
Robinhood Launches Cryptocurrency Trading

In a blog post that came out today, Robinhood trading app announced that cryptocurrency trading was now being gradually rolled out to California, Massachusetts, Missouri, Montana, and New Hampshire users. The launch comes one month after Robinhood announced that they would be adding cryptocurrency trading to their exchange.

Currently, only a limited number of users have access to cryptocurrency trading on Robinhood and they are only capable of trading Bitcoin and Ethereum. In a statement Robinhood released in January, Robinhood mentioned that cryptocurrency trading will be accessible by more users and more coins would be tradeable in the future. Although cryptocurrency trading is not available to all Robinhood users at the moment, every Robinhood user has the ability to track 16 cryptocurrencies through Robinhood – Ripple, Litecoin, Dogecoin, and Bitcoin Cash being a few of those currencies.

In addition to the cryptocurrency trading announcement, Robinhood announced a new communication service that allows users to discuss cryptocurrency; Robinhood’s “Feed” will allow users to discuss news and market swings. Robinhood says Feed is already available for a limited number of users and that the platform will evolve based on user feedback.

Although Robinhood’s cryptocurrency trading is up and running, it does not allow users all the abilities they would have on a cryptocurrency exchange. Robinhood currently does not allow users to transfer their existing coins to Robinhood to trade; Robinhood does this to prevent money that was illegally obtained from entering the Robinhood exchange. Robinhood also does not allow their users to withdraw their coins, however, the company says they plan to allow users to withdraw their coins from Robinhood in the future.

Over 1 mln users have signed up for early access to Robinhood’s cryptocurrency service. On the Robinhood trading app, users can buy and sell Bitcoin and Ethereum commission-free.  Upon mentioning plans to implement cryptocurrency trading, Robinhood’s user base grew to 4 mln users.  This means that the 1 mln users in line for early access to Robinhood’s cryptocurrency trading service represent 25 percent of Robinhood’s entire user base. The day Robinhood announced they would be providing cryptocurrency trading services on their platform – Jan. 25, 2018 – Bitcoin price was $11,600. Today – the day Robinhood launched their cryptocurrency trading service – Bitcoin price has dropped to $9,924.

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How to Buy Bitcoin with Prepaid Cards: Beginner’s Guide

📚 Wikicoin
U.Today has reviewed the best ways to buy Bitcoins with your stack of prepaid cards
How to Buy Bitcoin with Prepaid Cards: Beginner’s Guide
Contents

The major difference between an ordinary debit card and a prepaid card is that the former is not pegged to a checking account in a bank. The funds are loaded on such cards in advance so that you can spend them. Case in point: reloadable MyVanilla prepaid cards that can be easily bought in your local Walmart store. The card’s current balance can be checked on the official website of its issuer.          
In most cases, prepaid cards are used as gifts — it is a very convenient way of sending money to a specific person if cash is not an appropriate option. Subsequently, it gives much more flexibility to a person who receives the gift since VISA prepaid cards are accepted all over the globe. One can buy clothes, electronic devices or...Bitcoin, the world’s biggest cryptocurrency.  

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Can you buy Bitcoin with gift cards on Coinbase?

Of course, Coinbase is the most obvious choice. The $8 bln startup, which is spearheaded by Brian Armstrong, is among the world’s most famous exchanges. Even with the recent listing spree, Coinbase still has a very meager choice of assets, but Bitcoin is on the list. However, prepaid cards are not accepted there despite some websites claiming otherwise.   
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US customers are able to make instantaneous purchases with their debit/credit cards, but Coinbase requires everyone to complete ID verification before adding a card. It is safe to say that the Armstrong-led exchange will never accept prepaid cards due to security concerns.

In July, however, the exchange launched its own Coinbase VISA gift card for European customers. These Coinbase prepaid VISA cards are accepted to propel the merchant adoption of cryptocurrencies. As of now, there is a huge gap between people investing in Bitcoin and people buying their Starbucks coffee with it. To tackle this issue, Crypto.com has already introduced the first crypto debit card.  

How to use Paxful?

After obtaining your prepaid card, you have to look for an exchange that actually accepts it. It is worth mentioning that buying Bitcoin with a prepaid VISA card is not an easy feat since exchanges are afraid of opening a Pandora’s box of financial manipulations. However, we’ve still managed to find some ways of purchasing crypto with practically any prepaid card.

First, we are going to cover a fairly popular website called Paxful. The website allows you to buy and sell Bitcoin while using a myriad of payment options (up to 300). Paxful accepts gift cards issued by VISA/Mastercard (the aforementioned MyVanilla prepaid cards), Walmart, Amazon, and so on.
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For more options, you can click the “Buy Bitcoin” button in order to open a new page with a search bar where you can manually find any payment method after choosing the suitable currency.
image
This is the long list of all open offers that are sorted accordingly to the exchange rate. The seamless process of purchasing Bitcoin with gift cards comes with draconian fees. For example, if you want to buy Bitcoin with an iTunes gift card, you would have to pay a hefty commission that may go as high as 60 percent — for every dollar you spend, you get only $0.40 worth of Bitcoin. Usually, sellers offer the highest exchange rates (you lose less than 10 percent) if you meet them in person. In order to buy BTC with a prepaid card, simply click the green button on the right.
image
Paxful also allows you selling Bitcoins. Simply choose the “Sell Bitcoin” option and decide what kind of payment method you would like to accept (whether these would be gift cards, cash deposits or online transfers).  

Paxful Pros and Cons  

Pros  

Cons

A beginner-friendly exchange

Different exchange rates

An enormous number of payment methods  

A lot of scammers

Buyers are not charged with any fees

A one-percent fee for sellers

Remember about safety


How safe is it? Paxful claims that their sellers’ Bitcoins are held in a secure escrow until the transaction is completed, which eliminates the possibility of a fraud. The peer-to-peer exchange creates a temporary Bitcoin wallet in your personal account. In order to enhance their security, users are recommended to enable 2FA.

Paxful and LocalBitcoins are both well-known peer-to-peer exchanges with a huge user base, but they cannot ensure that every seller is reliable. Hence, we recommend you to pay attention to the following rules:

  1. The system features feedback rating of a certain seller (any negative comments would obviously be concerning).
  2. We recommend you to make sure that you take a screenshot of every transaction.
  3. Also, protect your personal data — any private information shouldn’t be disclosed. You don’t want to lose your money, right?


Things may get even way worse than wasting your $20 gift card — as U.Today reported earlier, a man from Norway was brutally murdered during a LocalBitcoins meet-up. This is why it is important to have at least a quick live chat before having a direct contact with this person.      

Transaction cancellation is another point that has to be covered in order to prevent financial losses. Do not reveal any gift card details to the seller if you are not 100 percent sure whether the transaction has to take place. While it’s possible to call off the purchase, the seller will certainly be tempted to get access to your gift card.    
    

Alternatives to Paxful


Paxful isn’t the only option on the table if you want to buy Bitcoin with a gift card. You are also able to do this on LocalBitcoins.
image
LocalBitcoins is the most well-known peer-to-peer exchange whose modus operandi is very similar to that of Paxful. The popularity of this exchange is skyrocketing in Russia as well as in some Latin American countries. With that being said, popularity is not necessarily a good thing because it brings more sketchy frauds, so follow all the above-mentioned safety measures.

Cointal is yet another peer-to-peer exchange for those who have no idea what to do with their gift cards, but it has a very questionable reputation with some users accusing it of being a fraud.

The bottom line

There are only two reputed exchanges that allow purchasing Bitcoin with a prepaid card. Despite the draconian exchange rates, it’s an excellent way to get rid of your stack of old cards.

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What Drives EOS Price Up and Will it Hit $37 by End of 2018?

EOS is hot and more investors are trying to figure out where the EOS coin price is going to next
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Contents

 

EOS entered the crypto market in July of 2017  since there it has fared well due to its ERC20 base and the advancements made on the technology and the smart contracts. It is horizontally scalable and can process millions of transactions per second. The developers have envisioned a future with EOS being used heavily and have thus created a Blockchain with massive scalability. Furthermore, its Blockchain foundation can support thousands of Dapps and this has attracted numerous developers to EOS.

EOS coin price predictions

In a relatively stagnant crypto market, EOS has been increasing and that has investors talking and speculating on where the price of EOS is going next. The following is some realistic EOS price prediction over the next eight years.

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EOS price prediction 2018

We are entering the halfway point of 2018 already we have seen EOS coin rising from roughly $8 in January 2018 to more than $14 in June, a 75 percent gain in only six months. What can we expect to see for the second half of 2018? By the end of the year, conservative, realistic prices are predicted to hit $37 per token. Some more liberal estimates are calling for $70. Based on the data available and the fact there is not even an entire year’s worth of EOS price performance data, it would be safer to assume a target between $30 to $35 is a safe bet. If within the next six months, there is news of a major partnering or contracting with a large company, then we could expect to see prices increase well beyond the initial target price. Remember that EOS is new and we are still in the wild west days of the cryptocurrency market; it is a volatile place!

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EOS price prediction 2020

Over the next year and a half, when we reach 2020, if EOS maintains its current trajectory, we could see prices closer to $80 or $100 or higher if some big business deals develop in the next 18 months, for which there is much potential. Let’s not forget that a major lure to switch to EOS from Ethereum is the ease of project migration: simply copy and paste it and your project is now EOS based. With this kind of built-in simplicity, developers will not have to recode and modify projects for EOS. By this time, we may see many Dapps and other projects switching from Ether to move to EOS. Another move that would strengthen the price of EOS coin and further push it into the highest ranks of the cryptoverse.

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EOS price prediction 2025

EOS future price prediction, the farther out in time we look, the harder it is to predict. However, If by 2025, there is a healthy, thriving cryptomarket and more acceptance and adoption of Blockchain and cryptocurrencies around the world in general, then we could see much higher prices for EOS.

It is predicted by this time that EOS should be in the top three cryptocurrencies by market cap base. Ethereum will still be a major platform, but there will be more attention and development on EOS. This far in the future a safe price range could be between $230 and $270 based on current trajectory. Note that business development will have a major impact EOS price, the more businesses that get on board and develop with EOS the higher the price will go.

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Unknown price drivers

Business development is an unknown factor and it is nearly impossible to account for it in predicting price. For example, if Google announced today that it was going partner with EOS today, there is a chance that EOS prices could skyrocket overnight to push the price past 2020 predictions. This is an outside force that has much bearing on price performance. Additionally, acceptance by governments is another price factor. We have seen the ups and downs in the market when China and South Korea rattle the sabers by stating that they will ban crypto or restrict it in another way. However, it is safe to say that more developed economies are accepting crypto and Blockchain.

Success stems from technology

Much of EOS’ quick rise in the market is due to the fact that it is easy to work with and import projects from Ethereum to EOS. The decentralization aspects of the token are going to be attractive for large, enterprise businesses. Getting large enterprises onboard will be a key to the further success and growth in prices for EOS. Blockchain is going to be a major platform for many industries in the near future.

  • It is an ERC20 compatible token, which is distributed on the Ethereum Blockchain pursuant to a related ERC20 smart contract. Ethereum’s smart contracts offer a lot of versatility for cryptos built on that platform, which lead to better business-related uses.

  • EOS incorporates a delegated proof-of-stake (DPoS) consensus protocol. This protocol is similar to a republic whereby members of the community delegate the responsibility of verifying transactions to elected witnesses. In other words, this is a crypto that is not mined but rather is based on producers, who create something.

  • EOS can process millions of transactions per second through horizontal scaling. This is a major achievement over Bitcoin and Ethereum Additionally, this will make it possible to create Dapps that are indistinguishable from their centralized counterparts.

There is lots of potential for EOS as time passes. As more and more companies see its technology and what it can offer, more will be willing to join. Business development and governmental general acceptance of Blockchain and cryptocurrencies will be the main driver in price.

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Why Celebrity Coins Keep Failing: Another Flop as Ghostface Killah's Drops 96%

Celebrity backed and created coins were a huge fad at a stage, but many of them have not gotten off the ground
Why Celebrity Coins Keep Failing: Another Flop as Ghostface Killah's  Drops 96%
Contents

In the boom of ICOs it was popular to try and get a celebrity endorsement, or even for celebrities to use their way to start their own versions. However, as time as gone by, many of them have become pure failures.

The latest celebrity coin to become a major flop has come from Wu Tang Clan’s Ghostface Killah and his CREAM coin which as dropped 96 percent since its inception in January this year.

But CREAM is not the first coin to flop with Centra another, which was backed by Boxer Floyd Mayweather, having seen the SEC call it a fraud and charging its founders.

Not the CREAM of the Crop

CREAM was hopeful of raising $30 mln in its ICO however, things have not gone well for the music star-backed coin as it has dropped 96 percent. The token initially went on sale back in November of 2017, when coins were sold for as little as $0.02 per coin.

It then spiked in January to a high of $0.12, before being hit with a downward wave that struck the whole cryptocurrency market. The current value of the coin is just $0.0045.

Warning signals

While celeb-coins are nothing new, the warning that have come with them have been around for almost as long.

Andreas Antonopoulos, an early Bitcoin investor, and well-respected voice of cryptocurrency warned against such investments in these celebrity-backed coins. He said:

"The worst reason to make an investment is a celebrity endorsement. Unfortunately, this tactic works, and that's why they're doing it.”

Centra knocked out

Centra is another company that went the way of celebrity endorsement and felt the sting of basing their entire hope on one gimmick. Mayweather was pictured in September promoting Centra, a cryptocurrency project that raised over $32 mln during its ICO.

However, it only took six months for the project to fail as the SEC got involved and indicted the three co-founders for securities and wire fraud.

DJ Khaled was another celebrity that was in on the Cetra promotion racket as he made an Instagram post promoting Centra and its ability to be used in the same way as a debit card.

DJ Khaled

 

Bitcoiin2Gen pyramid comes crumbling down

Steven Seagal, the famous action movie actor, was also part of an ICO which was quickly labeled as a pyramid scheme which quickly came crashing down.

Bitcoiin2Gen was launched in January, with Seagal named as a brand ambassador. But just after the ICO ended, Segal and the coin’s founders parted ways, then, soon afterwards, Tennessee Department of Commerce & Insurance (TDCI) Securities Division issued a warning to consumers about the nature of the project.

Game over

The Game is another celebrity that endorses a Blockchain project that was focused on the emerging marijuana market growing in the US. Paragon Coin was going to build a marijuana Blockchain environment, however, the project ultimately flopped when they failed to register the ICO with regulators- leading to a lawsuit from investors.

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