🤷 Opinions Ake Gaviar

The Network Economy: 20 Years and 12 Principles; 10 Years of Sharing Economy; 10 Years of Blockchain

🤷 Opinions
2018 has been an anniversary milestone for the network economy, the sharing economy, and blockchain. And they all come together beautifully
The Network Economy: 20 Years and 12 Principles; 10 Years of Sharing Economy; 10 Years of Blockchain
Contents

The convoluted nature of the title of this article feels like a good reflection of the past year in the blockchain and crypto space — the times have been murky and often confusing to pierce through; and yet 2018 marked three distinct anniversaries that I have an ineliminable desire to put in a row of landmarks and review. It all comes together beautifully.

The Network Economy

Kevin Kelly is the founding editor of the legendary Wired magazine, a tech guru and a man of many talents, but to give his experience a more popular background — Kevin Kelly was one of the futurists to consult Steven Spielberg for Minority Report, and the cast of The Matrix Revisited was made to read Kelly's book on decentralized and self-sustaining systems titled Out of Control before shooting the movie.

In 1998, Kevin Kelly published the book New Rules for the New Economy — an expanded version of his groundbreaking article in Wired where he outlined the 12 principles of the network economy.

In 2018, Kevin Kelly said, "Despite two decades of fast moving technology, I would not change much in the book." To me, this is the great evidence that the 12 principles have withstood the test of time and are even more relevant today when the Internet has reached 4 billion users — another landmark of 2018.

There's still no real definition of what the network economy actually is apart from that this is the emerging economic order within Information Society.

The 12 principles, however, are the best way to understand the network economy. I would even go as far as to say they are worth learning by heart if you go online for purposes other than entertainment — which you obviously do — and they are exceptionally important to keep in mind if you are in the blockchain and crypto space in any capacity.

1. The Law of Connection

Embrace the dumb power of connections. The more connections, the better.

If you picture yourself as a node — a graph theory node with edges as connections, if you fancy — then the more connections you have, the better.

2. The Law of Plentitude

More gives more. The sum of a network increases as the square of the number of members.

The best way to understand this is to conjure up a situation where there are only two phones in the entire world. Two phones have exactly one connection between them. Three phones have three connections. Four phones — six connections. Five — ten. It's almost a runaway value increase of the network with each new phone going online.

Change the phones in the example with nodes — in the most umbrella and abstract sense of the word — and you get the idea.

3. The Law of Exponential Value

Success is nonlinear. When you start building up your network, you might feel like you are putting too much effort into adding every node for too little returns. And then — on passing an invisible threshold — the value explodes. Bitcoin stayed off the radar and relatively dormant until about 2011 when it was picked up by black markets and after some major work had been done by crypto-anarchists who — consciously or not — followed the Law of Connection and the Law of Plentitude.

4. The Law of Tipping Points

Significance precedes momentum. There's always significance in a project or an occurrence before it reaches momentum in the network.

In nature, and in epidemiology in particular, the tipping point is higher on the scale than it is in technology. For example, a disease must infect enough hosts before it becomes an epidemic and more often than not it can be successfully contained.

In technology, where the information spreads fast and the parties are usually willing for the spread, the threshold is much lower than it is in nature.

A simple example of this would be buying Ethereum in 2015 or Antshares in 2016 on realizing the significance and becoming a part of the network before the momentum.

5. The Law of Increasing Returns

A network's value explodes with membership. Value explosion sucks in more members.

Create value, add nodes. New nodes create more value. More value adds more nodes.

6. The Law of Inverse Pricing

Anticipate the cheap.

Before the network economy, it used to be a slightly improved product for an increased price. In the network economy, it’s a major improvement for a smaller price.

This works both for physical devices and the information society. A new gadget costs less or the same price and carries improved technology, and has the added value through being connected. It doesn't cost you much time or effort to quickly learn what's happening in the world or just about retrieving any knowledge online, because you are in the network, which today is predominantly Tim Berners-Lee's World Wide Web.

7. The Law of Generosity

Giving away free increases the value of the network. There's a reason open source software is as big as it is, and airdrops in crypto are still a great way to expand the network. Same applies to knowledge.

8. The Law of Allegiance

The network has no clear center or clear outer boundaries. When selecting a platform — more on that later in the article — to do business, your choice depends on the network more than it does on the actual product. For example, you'd go to eBay over Craigslist for a scalable shop business.

9. The Law of Devolution

This is about letting go at the top. There's a macro-level and a micro-level to this.

Macro-level — Sudden disintegration of established domains is as certain and sudden as the appearance of the new. Nature abhors a vacuum. There's a reason Binance is building a DEx despite being highly successful with its centralized solution.

Micro-level — Letting go at the top — be it a product, an occupation, or an industry — and doing something new is invaluable. There's a point when putting in more effort results in smaller returns.

10. The Law of Displacement

The network always wins. All isolated domains succumb to the network. 2017 was a great example of when instead of producing own blockchain from scratch — or forking an existing one following the Law of Generosity — projects resorted to deploying an ERC token. The network won.

11. The Law of Churn

Change is toxic; churn is creative. The world on the back of the technology has accelerated so much that the change of established domains that is toxic has turned into the churn of emerging domains.

For example, Facebook collapsing — following the Law of Displacement — would be sudden and toxic both for users and the many Facebook employees; this is change.

A startup going through many pivots until it adapts and purifies its mission, strategy and technology to gain ground, is creative; this is churn.

12. The Law of Inefficiencies

Don’t solve problems. Seek opportunities.

Be innovative and bank on the network instead of trying to improve your routine.

For example, if you are a Medium author, see what else is there with a different model.

**

2018 is the year of when we can celebrate the 12 principles withstanding the test of time, and 2008 was a checkpoint called the sharing economy.

The Sharing Economy

Sources attribute the first use of the phrase sharing economy to professor Lawrence Lessig in 2008.

While many thought that the sharing economy was a novel idea, what it really was the feeling for and understanding of the network economy and its decentralized nature at the core. This was also marked by the significance and fast momentum gaining of the likes of Uber, Airbnb, Kickstarter, and many others.

All of a sudden you didn't have to rely on a single centralized investor or a group of investors that make you jump through hooks to have your project funded — instead you could go for the crowd, the community. You also didn't have to deal with a taxi company, their rates, and planned availability, instead you could go for the network of drivers. Same with hotels and the plentiful network of rooms and apartments in major and small cities, the owners of which might have never been to a hotel room themselves.

The centralized domains started disintegrating, and it appeared to be really sudden, and there were networks in place, and they were rapidly expanding networks too.

The speed of the rise and the sudden everywhereness of the relatively decentralized networks was dizzying. New books were published and terms like platform economy and platformization were coined and the phenomenon studied.

However, this was exactly what these networks were and still are — relatively decentralized. They are platforms; they are rigid economic systems with their unbreakable rules — although they are the changing and adapting rules following the Law of Churn, — the decentralization containerized and centrally owned.

And the platforms did serve a great purpose — they helped the notion and the process of decentralization advance; in fact, this was a major boost to the network economy and a landmark.

10 Years of Blockchain

In 2008 the Bitcoin whitepaper was published and distributed through a cypherpunks mailing list — the list that was started by Timothy May, the original cypherpunk who coined the term Crypto Anarchy.

And the rest has been discussed in so much detail that if I were to type an extra paragraph here it really wouldn't add much and you'd rightfully skip it over.

What does all of this mean?

The network economy is the emerging economic order with 12 distinct principles. The principles are worth keeping in mind at all times when you go online for things are than mere entertainment.

The rise of the sharing economy that we witnessed roughly 10 years ago and that is still relevant today is a) a testament to the network economy; b) a containerized version of the network economy that served its purpose.

But remember, significance precedes momentum. The backbone to sharing economy are platforms, and it's only logical and even natural — whether we like it or not — for decentralization to continue and the networks find a new and more fitting bed. And blockchain seems to be the one for today and for a significant amount of foreseeable time.

There are projects like Golem that's a network of computing power and is similar in model to Airbnb, but there's a difference that's hugely significant — it's not centrally owned like Airbnb.

The Ethereum DAO — that sparked so much interest in decentralized autonomous organizations that Wired covered it — only happened in 2016.

Binance is moving to DEx in 2019.

The Cyber Republic — a digital governance system for the Elastos ecosystem — is another important tackle in how decentralized autonomous communities operate.

And there's U°OS Network — a framework for the digital individual, the network capital and the 12 principles of the network economy — with the U°Community dapp to operate the network. It's the one I dearly support, and that excites me the most.

It's all coming together, the way we operate in the network economy is shifting gears, and centralized platforms are becoming expended shells. Understand the significance as the disintegration will be sudden and loud.

And do yourself a favor, get your private key at U°Community today.

In this Telegram channel you’ll find fresh news, interviews, infographics, forecasts & other helpful stuff. Join U.Today's channel.
🤷 Opinions
262 views views
👓 Recommended articles
something-wide
something-wide
🤷 Opinions Jack Thomas

Bearish Ripple Chart Analysis Pointing Towards Short Term Price Losses: Is It Time to Sell XRP?

🤷 Opinions
After a week or so of good price growth, Ripple looks as if it could be in for a short bear run, so maybe it's time to take profit
Bearish Ripple Chart Analysis Pointing Towards Short Term Price Losses: Is It Time to Sell XRP?

A look over the charts for XRP shows some good growth since last week. However, there has been a bit of a flattening out, and even an inability to hold key support levels. This is key in trying to predict the next steps of XRP’s price, and technical analysis suggests that a small bear run could be imminent.

Ripple’s price failed to stay above the $0.3250 and $0.3200 support levels and declined against the US dollar. The price also failed to hold gains and declined recently against Bitcoin. XRP/USD could slide towards the $0.3050 support before starting a fresh upward move.

Because of these predictions, it might be time for some smart trading, selling some tokens for profit taking before looking for the bottom again and buying back in.

A look at the charts

Over the last five days, XRP peaked at $0.354 on Wednesday before correcting down and rebounding to $0.352; however, it has since fallen back to $0.342. There was some fight back from the XRP token to try and pick up those gains again over the last few days, but overall it has fallen twice, unable to maintain those support numbers.

Bearish Ripple Chart Analysis Pointing Towards Short Term Price Losses: Is It Time to Sell XRP?

After a period of trading relatively flat, and with indications showing it is struggling to hold its gains, the prediction would be that the price of the coin will face bearish tendencies in the short term.

More small drops can be expected, with undulating rises that fail to stick. It is not gloom and doom for the cryptocurrency, rather a period of correction after a good rise that set off the market growth earlier in the week.

For investors or traders, this is actually good news given that if the prediction is correct, there will be a chance for profit taking as people sell off tokens after the bull run, only to ride out the bearish run in order to buy back.

Subscribe to U.Today on Twitter, and get involved in all top daily crypto news, stories and price predictions!
🤷 Opinions
840 views views
👓 Recommended articles
something-wide
something-wide
🤷 Opinions Vera Thornpike

Litecoin Price Forecast 2019: Set Sail to Break the $50 Iceberg and Swim as Far as $230

🤷 Opinions
Litecoin price forecast 2019: The coin has the chance to reach the value of $230. What are the factors contributing to LTC growth?
Litecoin Price Forecast 2019: Set Sail to Break the $50 Iceberg and Swim as Far as $230
Contents

Following Bitcoin’s path, Litecoin seems to be on the rise: it’s becoming quite popular among investors and is slowly gaining in price. There’s a very high probability that it will trade higher than $30 all year long, but what about its highest points?

Litecoin Price Forecast 2019: Set Sail to Break the $50 Iceberg and Swim as Far as $230

Focus on numbers: Litecoin’s future in 2019

Although the bearish period seems to be over, the crypto market is still highly volatile. That’s why making any short-term predictions is quite hard. However, it doesn’t discourage analytical websites and people from making their own forecasts.

Thus, according to publications on various crypto websites, Litecoin has enough potential to reach the $1,000 edge. Some articles mention the number $2,000 – it seems to be far from reality. What are these suggestions based on? It’s not clear.

However, these forecasts are on par with predictions from some experts. For example, George Tung, a cryptocurrency analyst, claims that Litecoin will reach $1,500 towards the end of 2019. Brian Kelly, the head of BK Capital Management (LLC), is sure we might witness an LTC price of $500 or even $600 by the end of this year. Though conservative, this approach seems to be close to reality.

In November 2017, Litecoin was traded at $100 and investors managed to enjoy 25x ROI. If the market is hit by the bullish wave again, the scenario can repeat: LTC might jump from its current $48 to $1,200. But what if that won’t happen?

Our guess is that Litecoin can reach the range of $150-$230 by the end of 2019. How can it crawl to such numbers? First, in August 2019, the block reward for miners will be cut by 50%, which might provoke the growth of demand for LTC.

What will kick-start Litecoin growth?

Here’s the whole gamut of factors that can make Litecoin soar separately or altogether:

  • The rate of accepting Litecoin on exchanges and online websites will gradually increase. One of the adoption examples is the Surf Air store that started accepting LTC payments.

  • Of course, Litecoin’s growth is partially defined by Bitcoin’s performance. At the moment, BTC is on the rise. However, Litecoin seems to recover from the bearish period much faster and better.

  • At the same time, while Bitcoin’s gaining in traffic, users start complaining about growing transaction fees and slow performance. That’s when their attention switches to Litecoin, with its lower commissions and better speed.

  • A big influx of traffic on Coinbase is expected – it backs three major crypto assets, including LTC.

Thus, Litecoin is getting more and more media attention, which only contributes to its growth. Some Internet users are sure that it has to reach the $50 mark to get back on track and start gaining in value. This event is definitely around the corner!

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

In this Telegram channel you’ll find fresh news, interviews, infographics, forecasts & other helpful stuff. Join U.Today's channel.
🤷 Opinions
4268 views views
👓 Recommended articles
something-wide
something-wide
🤷 Opinions Darryn Pollock

EOS Price Expected to Keep Rising After Doubling in Value Since December Lows

🤷 Opinions
EOS is one coin that has shrugged off its lows to double in value since December, with more growth expected
EOS Price Expected to Keep Rising After Doubling in Value Since December Lows

In the current climate, there is optimism returning to the market with Bitcoin pushing the $4,000 mark. However, a lot of this positivity has come from an altcoin rush of late. Coins such as Tron, Ethereum, Ripple and Stellar have played their part in boosting the market, but one particular coin has been striving since its lows in December last year.

EOS, a cryptocurrency that is currently ranked fourth by market cap, has quietly been going about its business, growing not only in price but also value as a blockchain company. It is showing some medium to long term bullish tendencies, outperforming many others.

The coin reached a low of $1.54 on December 7th, 2018, but at the moment, it is heading beyond the $4 mark, having doubled in value since that late last year low. It currently sits at $3.38.

Many are expecting the coin to keep growing, with its highest point touching $4.05. This move represents a 161% gain in only 74 trading days. If the bullish tendencies can continue across the markets, there is no doubt that EOS will cash in.

EOS Charts

More to come

EOS is seen as a rival to Ethereum, and because its intention is to improve upon the original smart contract blockchain, it will feel it has an edge in terms of adoption in the coming months.

It is a double-edged sword, as added adoption of the blockchain platform will help increase its reputation, which in turn will boost its price. Then, because EOS’ price is already starting to grow substantially, it will bring the platform to the fore for future blockchain applications.

If EOS can continue to offer a good blockchain service and the market keeps positive, there is every reason to believe that the coin’s price will continue to grow — and also outperform many of its rivals and other altcoins.

Only the most important posts per day. Infographics, analytics, reviews & summaries. Follow us on Facebook!
🤷 Opinions
198 views views
👓 Recommended articles
something-wide
something-wide
🤷 Opinions Jack Thomas

Ripple XRP Price Prediction: Major Financial Services Group Sees XRP Exceeding Bitcoin’s Market Cap

🤷 Opinions
The president of SBI Holdings in Japan believes that Ripple will dominate global expansion and soon have a bigger market cap than Bitcoin
Ripple XRP Price Prediction: Major Financial Services Group Sees XRP Exceeding Bitcoin’s Market Cap
Contents

The SBI Group, a Japan-based financial services giant as well as a keen partner with Ripple for their bank settlement cryptocurrency, are bullish on the XRP token overtaking the current head of the market cap standings, Bitcoin.

The President and Representative Director of SBI Holdings, Yoshitaka Kitao, has come out and said XRP is dominating international expansion and will become global in the future. This global domination, based on XRP’s propensity to partner with major financial institutions across the globe, means Kitao sees it overtaking Bitcoin.

Bitcoin has stood at the head of the market cap standings in relation to cryptocurrency ever since it was invented some 10 years ago. Other coins have come close to knocking it off, but the decentralised coin has stood firm. But, if Kitao is right, XRP could overtake the market cap with a huge growth in price from global adoption.

International adoption

Ripple’s XRP token is as a cryptocurrency global and borderless, just as Bitcoin, because of its decentralised nature. However, Ripple has been looking to run XRP like a business with its xRapid product.

Thus, its growth is based on its adoption by financial institutions around the globe, and as this adoption grows, the worth and interest in XRP will increase, and thus its market cap will begin to rise.

“Because XRP is already beginning to become international, xRapid will be used for fund transfers in 2019. By increasing the so-called XRP’s plastic use, we anticipate that the [Ripple] market capitalization will easily exceed the market capitalization of Bitcoin,” Kiato said.

Ripple has already shown its power in growth as opposed to other major cryptocurrencies, often stealing second spot from Ethereum in the recent past. Ethereum was once a coin that was almost overtaking Bitcoin, but it is now under threat by a much more compliant and potential-full XRP token.

Better use cases

Because Ripple is trying to build XRP’s use cases for financial institutions, it has an advantage over other tokens in that it will be useful rather than just a cryptocurrency experiment. It is highly believed that once crypto finds its killer application, the price of it will skyrocket as people flock in demand.

If XRP does become more globally adopted, there will be an influx of interest in the coin and thus its price will shoot up, allowing it to overtake Bitcoin’s market cap in no time.

Join our Telegram channel to get news even faster!
🤷 Opinions
3957 views views
👓 Recommended articles
something-wide
something-wide
🤷 Opinions Jack Thomas

EOS Price Jumps 25% as Market Flattens Out: Is There More to Come?

🤷 Opinions
The cryptocurrency market’s best performer in the last 24 hours has been EOS as the rest of the growth plateaus – what’s next?
EOS Price Jumps 25% as Market Flattens Out: Is There More to Come?
Contents

Ever since last week Friday, where there were small indications that a rally could happen, the cryptocurrency market has shown some good growth, with Bitcoin, the head of the market, topping off at just under $4,000.

What has been typical of this small rally has been the effect of some of the major altcoins in pushing the cryptocurrency market. It began with the likes of Binance Coin, Stellar and Tron, and then saw Ethereum take over, but now EOS has shown a huge 25% growth spike in the last 24 hours.

It would seem that this rally has flattened out for the moment, with a lot of the coins levelling out. It is now important to see what comes next as another rally following this levelling could be massive for the medium to long term growth of the entire market.

EOS Drive

The now-fourth biggest cryptocurrency based on market cap has advanced nearly 25 percent in the last day to reach $3.47 and is currently neck-and-neck with Litecoin, whose own value has also ballooned 11 percent since year-end 2018.

Today’s gains reflect support from the EOS community and could have something to do with Block.one, the creator of EOS, recently providing greater clarity on the roadmap.

Block.one CEO Brendan Blumer addressed some of the community concerns on social media, reminding them in a message entitled “Great Things Take Time” that there is more ahead than meets the eye.

Of course what is important to note in regards to this kind of reaction is that these altcoin projects are putting out positive news, and that is having an effect not only on the coin, but the market in general.

There is positive news being met with results which are driving the market, and this has not been seen for a long period. The bullish market tendencies being seen could be indicative of a change in the sentiment.

What next?

It is still early to call, and quite tentative, but it certainly feels like a bull run could be developing. It may be based off the altcoin news and sentiment, but Bitcoin will play a important role. The major cryptocurrency came $30 short of cracking the $4,000 mark.

If Bitcoin is able to breach that resistance, even if it is through the drive of another altcoin, it could open up a whole new level of potential gains across the market and could possibly start a new bull run.

Only the most important posts per day. Infographics, analytics, reviews & summaries. Follow us on Facebook!
🤷 Opinions
311 views views
👓 Recommended articles
something-wide
something-wide