Posts tagged with "currency"

Meme via David Blackbourn for use by 360 Magazine

What on Earth is DogeBonk?

Memecoins and the Monetization of Community

#Sorry Elon

In May 2021, Elon Musk promised to launch a satellite in 2022 to achieve the first crypto-funded mission to space. Unfortunately for Mr. Musk, however, his promise has been broken. On December 15, a rival memecoin, DogeBonk, launched its own community-funded space mission and successfully reached the stratosphere.

DogeBonk is the First Memecoin in Space #SorryElon

An onboard camera filmed the launch, and a meme was revealed at the peak of the flight. The meme shows a dog with a bat “bonking” a Dogecoin symbol, with a tear-streaked Elon Musk in the background. #SorryElon was trending on Twitter for days. They followed this up with a billboard placed directly outside the SpaceX Hawthorne factory, proclaiming his loss with the message: “SORRY ELON 2ND PLACE IS STILL GOOD”.

All exceedingly silly, but why is this important? And what on earth is DogeBonk?

It starts with a dog with a bat.

In an era of peak corporate nihilism and social imbalance the simple image of a dog with a bat in the act of “bonking” can be an oddly powerful thing. The DogeBonk meme began a fresh surge of original and organic content, the scale of which has not been seen since 2016’s epic memetic arc. Through simply editing photos of already existing memes, films, and even classical art DogeBonk has captured the value of this memetic concept in the form of the $DOBO token. The goal?

“To meme DogeBonk into being the biggest memecoin of 2022.”

The DogeBonk community has rapidly evolved from a small community of meme lords into  “an exponentially growing swarm of mostly anonymous growth marketers and content creators, self-organizing into what is essentially a worldwide, virally growing marketing agency.”

Tens of thousands of original creative projects and memes have been uploaded and shared in the community, including song parodies, movie edits and even video games.

The dog with a bat meme has become a symbol to rally around; a means to illustrate the absurdity of the financial system at large and the possibility of a new way of doing things.

$GME and WallStreetBets already proved the power of a weaponized community when they took on Wall Street itself and won. Memecoin communities are the $GME of Web3.0, groups of motivated people exercising newfound power simply by tokenizing the value of their will on the blockchain. Regulators have yet to catch up, and a new zeitgeist is forming. Memecoins are becoming credible as serious digital assets because they represent the community behind them.

“Clown World” emerged from the depths of cyberspace, the perfect term to describe the new zeitgeist, a movement born out of Gen Z’s dissatisfaction with a broken financial system from which they are barred. The dog with a bat is here to help.

Watch Bonkin’ in the Clown World (Official Music Video) HERE.

The community is what drives DogeBonk, so let’s dive in!

Meet The Memesters

In the cryptocurrency landscape anonymity, or pseudo-anonymity is the norm: it is still unknown who Satoshi Nakamoto, the creator of Bitcoin is, for example.

Ghostbro

Profile Picture of Ghostbro

When did you get involved with cryptocurrency?

In 2016 I read an article in The Economist about Bitcoin and Cryptocurrency and decided that it was worth investing. I was lucky enough to buy at the right time and made a decent amount of money.

What is your relationship with memes?

I’ve grown up on the internet so I feel a strong connection to memes. Often memes are able to convey an idea more effectively than with words. We can express abstract ideas quickly and effectively across the internet in the same way religious iconography can express complex subjects. Also, funny dog go bonk, haha.

What is the future of DogeBonk?

No one knows what the future holds, but I envision us as the center of the memecoin ecosystem. So much of the industry is false promises, toxic communities and awful memes. We try to show what a determined community can create together, and I hope through the ecosystem we’re developing around MemeTools and our upcoming NFT platform, we will keep driving the push towards quality in memes and memecoins on the blockchain.

How did you feel when the DogeBonk became the first memecoin in space?

It’s not every day that a bunch of strangers come together around a dog coin to one-up the richest man in the world. It was a very proud moment for everyone in the community.

Vesnushki

Profile Picture of Vesnushki

When did you get involved with cryptocurrency?

I think it started from being interested in computers and programming; the decentralized nature of Web3 and felt very appealing. Then the market crashed due to covid and since then I’ve gradually invested more and more into cryptocurrencies.

What is your relationship with memes?

Memes are a natural by-product of the internet and the ability to effortlessly communicate and share media with everyone in the world.

What is the future of DogeBonk?

I think it’s clear that DogeBonk is the only memecoin with memes, and also makes things happen. Most other so called “memecoins” post their icons and some unsubstantiated claim like “we will go to the moon because … because we just will, ok?”. Shiba Inu holders don’t seem to even understand basic economic concepts like market caps for example. I’m certain that 2022 and beyond will be very bright for DogeBonk.

How did you feel when the DogeBonk became the first meme to enter space?

This solidified the fact that we’re vastly different from anyone else in the memecoin ecosystem. We beat the richest man in the world at his own game.

Do you consider memes to be art?

I personally am kind of conservative in my definition of art, and there’s a difference between say a painting someone spent months to complete, and a photoshopped dog with a bat. I don’t think memes are in any way inferior to the traditional definition of art, just different. Art used to be something to cherish. Now literally anything could be art. This interview answer is art.

Jimmy

Profile Picture of Jimmy

When did you get involved with cryptocurrency?

It always was part of my living without knowing it in 4chan /biz since I was 13 years old.

What is your relationship with memes?

I like memes a lot, I’m a kind of stressed person IRL (in real life) not sad but worried. I just having fun in the Bonkverse.

What is the future of DogeBonk in your opinion?

I just say future is bright like any crypto in general, but this coin could go really far as anyone and even devs imagine.

How did you feel when the DogeBonk became the first meme to enter space?

It was an Amazing moment. /OooOOOOoooOooOOOOooooooh like we say.

Santovi

Profile Picture of Santovi

When did you get involved with cryptocurrency?

I’ve known that crypto was the future of finance since I heard about BTC in 2012.

What is your relationship with memes?

I’ve been meme-ing since I was a teenager discovering the Something Awful forums. I’m from the era before rage comics and twitter screenshots and have watched memes evolve over the years.

What is the future of DogeBonk in your opinion?

DogeBonk is the catalyst that will cause people to take memecoins seriously and it is already well on its way to mainstream adoption.

How did you feel when the DogeBonk became the first meme to enter space?

Relieved! Glad that all the planning and work we put in weeks beforehand finally came to fruition. It was a beautiful moment in our community.

Do you consider memes to be art?

Yes, but I also consider memes to be in their own category from art. Memes can be considered art, but art cannot be considered a meme until it is accepted socially.

The DogeBonk team ended 2021 by beating Elon Musk and becoming the first memecoin in space. Less than a quarter of an hour later they announced that their NFT marketplace was in the final stages of development. A few weeks later was the surprise release of MemeTools V2, an upgrade to Dogebonk’s wildly popular memecoin listing site – Memetools.app

Despite some volatility in the markets over the winter months the DogeBonk team continues to push ahead with updates, events, and endless community projects and activities. MemeTools has shown incredible growth already, and the NFT marketplace has the potential to become the premiere destination for NFTs on the Binance Smartchain.

One of the developers, quoted in a recent article in The Independent, expresses the unerring confidence of the community perfectly:

“Dogebonk is the real memetic answer to the ridiculous Clown World. We are the first memecoin in space. We have the funds to do funny things, and we want to meme DogeBonk into being the biggest memecoin of 2022.”

You wouldn’t put it past them…

Marita Kelly for use by 360 MAGAZINE

PANAMA RANKS AS NO.1 RETIREMENT DESTINATION

In accordance with International Living’s 31st Annual Global Retirement Index, Panama has been named the world’s #1 destination for 2022. This Index, produced in accordance with numerous statistics and on-the-ground input from in-country correspondents, ranks and rates the world’s leading retirement locations. The index surveys 10 major categories that include cost of living, retiree benefits, healthcare and more.

Panama snatches the top spot in InternationalLiving.com’s 2022 Annual Global Retirement Index. Panama capped the categories of opportunity, visa/ residency and benefits/ discounts, while scoring at the top amongst the fitting in and healthcare categories.

For such a small country, Panama is truly emerging – this marks the 11th time that Panama has dominated in International Living’s Annual Global Retirement Index, for all the right reasons.

In 2022, Panama ranks as one of the simplest retirement destinations for travel from the United States or Canada. Panama City, the capital of Panama, is the one true First World city in Central America. Easy access to Panama from all over the U.S. increases the flexibility for travel, with several one-way flights available across the U.S., and cities in Canada and Europe. The modernity of Panama is only a short three hours from Miami, and five hours from New York. Not to mention, the currency is also the U.S. dollar!

Jessica Ramesch, the International Living Panama editor reflects on her experience in the country, stating, “as a single woman I feel safe and free to live my life here, whether I’m going out to dinner and Ubering home late at night or driving cross-country to visit friends. Perhaps that’s because this is truly a land of opportunity, home to thousands of hard-working, upwardly mobile locals and immigrants.”

Ramsech continues her advocation for Panama, touching on the accessibility, indulgences, and credibility of the country. She states, “My favorite spot right now is Coronado, a happening beach town just an hour’s drive from the capital. In fact, I like it so much I bought an apartment there, and am packing up to move. Coronado is home to one of Panama’s most active and welcoming expat communities. I’m not even there yet, and I’m already getting invites to potlucks and happy hours.”

No matter where retirees choose to live in Panama, Ramesch says, they’re likely to be only an hour away from hospitals. In Coronado there’s access to the San Fernando facility. It’s a satellite of the San Fernando in Panama City—a JCI-accredited hospital affiliated with the Miami Children’s Hospital, Baptist Health International of Miami, and Tulane University Health Services Center and Hospital Clinic.

“Panamanian doctors make patients feel truly cared for,” says Ramesch. “They don’t rush through appointments, and they’ll often give you their cell phone number so you have direct access to them while you’re going through treatment or recovery.

“In fact, I’d say Panamanians in general are the best part of living in Panama. I have made so many wonderful friends here. People who are welcoming and fun and have a wide range of interests, so the conversation is always engaging.”

According to International Living, one of the most attractive features of living in Panama stems from the Pensionado program suitable for retirees.

Ramesch declares her support for the program, declaring, “the Pensionado program is, hands down, the best retirement visa program in the world. It’s a big reason Panama has taken the number one spot on International Living’s Annual Global Retirement Index so many times.”

Part of the reason for why Panama continues to steal those number one spots is due to the discounts that retirees with this visa have access to. The program makes it exceptionally simple – and inexpensive – to become a permanent legal resident. All of Panama’s legal residents are permitted to 20% off prescription medications if they’re of “pensioner” age. The base age is remarkably low, too – just 55 for women, 60 for men.

The Pensionado advantages expand to other discounts on dental care and transportation. Other leisure’s such as entertainment and hotel stays are available at low-cost rates, too.

Applicants with income of at least $1,000 a month qualify for the Pensionado program, and once you’re approved, you can appreciate all of the reductions.

“If you’d like to apply with your spouse, you can qualify with less than $1,000 each. You can even include dependents if you need to,” says Ramesch. “You just need a pension of at least $1,000 plus $250 for each additional person on your application.

“The $1,000 pension requirement reflects the low cost of living here in Panama. While it’s true that most of the North Americans who’ve chosen to retire here spend upwards of $2,000 a month, there are expats living here on far less.”

There are great areas in Panama that have rent prices as low as $300 to $500 a month, leaving extra money for retirees to spend elsewhere.

For those not 100% ready to make the permanent move just yet, Panama has a variety of alternatives for legal residency.

“The country has just unveiled a new extended-stay visa for digital-nomad types: The Temporary Telework Visa,” Ramesch says. “It allows you to come down and stay here—not for three months or even six, but for nine months. And you can extend for an additional nine months. That’s a generous total of 18 months, and the main requirements are simple: you must have medical insurance and an external source of income (at least $3,000 a month).”

Panama, too, has a “Foreign Professionals” Visa that has been available for over eight years. It allows foreign nationals to work in Panama, with easy requirements; you need a university education and a job arranged in Panama.

Though Panama ranks at the top in this year’s Annual Global Retirement Index, there are 25 other countries that were evaluated in the 10 categories used for judging, including; housing, benefits/ discounts, visa/residence, cost of living, fitting in/ entertainment, healthcare, development, climate, opportunity and governance. The full index country rankings for the year of 2022 can be found HERE.

360 MAGAZINE gaming illustration by Ivory Rowen.

Bitcoin And Online Casinos

Is Bitcoin a viable payment method for online casinos?

There are many payment methods that can be used at online casinos. Bitcoin is being accepted by a growing number of online gambling sites. Bitcoin never seems to be out of the papers these days, so is it a viable payment method for use at an online casino?

The mere fact that online casinos are accepting Bitcoin as a payment method speaks volumes. It is not going to be helpful to anyone if a payment method employed by them is going to cause big problems.

These online casinos will have put a great deal of thought into whether to allow the use of Bitcoin or not. It’s not an overnight decision. A great deal of thought has been put into their decision, and the fact they allow Bitcoin’s use should be seen as a huge vote of confidence in the cryptocurrency.

One site that supports this cryptocurrency is Bitcoin Games online casino. It’s important to do some research before joining any site. Taking a good look at a Bitcoin Games review is helpful. This review gives you plenty of information about the site.

Safety is so important when it comes to online payments. There is still a fair amount of financial fraud that takes place, and of which no one wants to become a victim. Bitcoin can help in this area because of the way it operates as a currency.

Unlike with a credit or debit card, there is no central bank in play with Bitcoin. It is the person who makes the financial transaction that owns the Bitcoin being used. The amount of personal information being made available to possible fraudsters is always a worry with banks, but that’s not the case if you are using Bitcoin. The fraudsters will be upset when realizing they can’t get their hands on your currency. The customer and the online casino itself will be impressed with this situation.

Another worry is that your bank account might be frozen. If you are using a debit or credit card for your financial transactions, it will cause you major problems. However, Bitcoin avoids these issues due to that lack of a central bank.

It’s not just a central bank that is absent. Furthermore, there’s no government to deal with this currency, though the Chinese government are doing their best to warn people off its use. Online sites will be happy that there’s no government to deal with, another reason they like using Bitcoin. There’s no taxation either and transactions cannot be reversed.

There are some disadvantages with Bitcoin, but that can be said of any payment method. How many times do you hear people moaning about their bank or PayPal? The main problem with Bitcoin is how its value can be volatile. That’s common with any relatively new currency and will hopefully settle down in the future. However, that’s more of a worry for those investing with Bitcoin. Just using Bitcoin to gamble online is a much better and safer way of using it.

Computer Illustration by Heather Skovlund for 360 Magazine

Media’s New Currency

What Marketers Need to Know About Media’s New Currency

Source Digital, a leader in providing innovative video advertising, is helping marketers to stop wasting money

It’s estimated that digital advertising grew 12% over the last year, as many people were at home more during the pandemic. With billions being spent on trying to reach people as they watch videos, it only makes sense that marketers turn to new technology to advance key messaging to targeted consumers. Source Digital is leading the way in helping them maximize their revenue with media’s new currency: SAMs or Source Activated Moments. The innovative platform is helping companies stop wasting money and get more out of their video advertising efforts.

“Many marketers are frustrated because they are spending more and more on digital advertising but are not seeing the results they want,” explains Hank Frecon, the chief executive officer of Source Digital. “This is where we come in. We have helped many of these companies gain more control of their digital marketing efforts to get a result that justifies their expenditure. We are here to help to grow their business, and at the same time give consumers what they are looking for in a seamless way.”

Many advertising campaigns are being switched to Source Digital’s patented platform. The new platform gives businesses what they have needed all along, which is a way to offer their products or services to customers that have indicated interest, during videos. Here are five things to know about this new way to reach consumers through digital advertising with SAMs:

  1. New media currency (SAMs) focuses on not disrupting the viewer. People love to watch videos, but they have been turned off by the ads that interrupt what they are watching. Having a platform that will seamlessly allow you to watch a video without ad interruption but still allow the marketer to promote something without stopping their video makes a world of difference.
  2. Many businesses turning to the new media currency are able to greatly increase their revenue, because Source Digital is offering them an entirely new inventory to access to help grow their business.
  3. Rather than traditional advertising working with particular networks, the new method of advertising works across platforms. This makes it easier for marketers to reach more people without having to put in more effort.
  4. The more you know about the audience, the more you can tailor ads to them and improve engagement. The new media advertising platform helps advertisers get more insight into the audience, so they can use that to improve user experience and increase engagement.
  5. The new currency is completely changing how online video advertising is done, and it’s doing so for the better. We all learned a lot from the prior ways that video ads were done, and that information has helped to create a better experience for all moving forward.

“We see the way our platform is helping to transform the efforts put forth by marketing teams,” added Frecon. “We look forward to helping many others get on board. It’s a more efficient way of reaching your audience, increasing profits, and in getting the most from your investment.”

Source Digital’s platform quietly works in the background, gathering important data points about the person, so that it can provide a better user experience and increase engagement. Source Digital has worked with numerous Fortune 500 companies to help create a more engaging and effective video advertising experience. To learn more, visit Source Digital.

About Source Digital, Inc. 

Developed by seasoned technology leaders and inventors, Source Digital delivers a new era of contextual commerce and advertising. Offering the first in-video, contextually driven, frictionless acquisition experience, Source Digital’s technology allows content creators, owners, brands, and retailers to seamlessly engage with viewers across any device or screen in real time. An immersive approach to interactive video, Source Digital’s patented technology inspires brand loyalty organically through continuous, personalized engagement, reducing audience drift while yielding nuanced measurements and substantially increased avenues for monetization.

Art by 360 Magazine for use by 360 Magazine

Dogecoin Interest Spikes

Interest in Dogecoin on Google spikes by 3,000% in 2021 led by the US and Turkey

Data acquired by cryptocurrency trading simulator Crypto Parrot indicates that the global interest in Dogecoin had surged by 3,233% between January and May 9, 2021, when it peaked with a popularity score of 100. During the same period, Dogecoin’s price has spiked by a whopping 12,650%.

The United States has recorded the highest interest in the meme-coin on Google Search with a peak score of 100, followed by Turkey at 86. Canada ranks third with a popularity score of 76. The asset has a popularity score of 62 in Singapore, followed by the Netherlands with 61.

Other countries recording a high volume of interest in Dogecoin include Australia (50), Austria (44), Nigeria (42), Ireland (41), and Slovenia (39)

Dogecoin emerges as the emblem of meme investing 

The rise in Dogecoin began in early 2021, and the report explores the trigger for the spike in interest. According to the research report:

In general, Dogecoin’s momentum began building after investors were eager to find out the next big hit after the excitement around GameStop and other stocks faltered. GameStop stock surged after members of the famous WallStreetBets subreddit rallied the price to new levels. Dogecoin has, therefore, emerged as an emblem of meme investing, a trend that has helped drive up the stocks of GameStop. These stocks have flipped the traditional concept of value on its head.

The rise in Dogecoin culminated in the asset hitting a new all-time high of $0.73. Notably, the interest was also sparked by celebrities. However, Tesla founder Elon Musk has been at the center of the asset’s extraordinary price movement. He regularly tweets in support of the asset.

Read the full story with statistics here!

Money illustration by Heather Skovlund for 360 Magazine

Geniusu × Microschool

GENIUSU LAUNCHES INVESTOR 5.0 MICROSCHOOL TO HELP INVESTORS

THRIVE IN THE DIGITAL DECADE

Genius Group, a Singapore-based public limited company, today announced the launch of GeniusU’s Investor 5.0 Microschool, taking place online from April 12 to May 7, 2021.

The Investor 5.0 Microschool is a four-week accelerator program that covers all four drivers of building Investor 5.0 strategies with personal guidance and mentoring to lead participants towards consistent cash flow and predictable growth.

Genius Group, the world’s No.1 entrepreneur education group, has packaged its top investment strategies, entrepreneur curriculum, and online faculty into a high impact, four-week microschool, that will set participants up to thrive in the digital decade.

Genius Group has generated 10x returns on its investments in the last year, seen its group valuation grow from $30 million to $300 million, and has also made acquisitions of over $80 million in the last year alone. This has all been driven by the investor 5.0 strategies it is sharing with students in this four-week microschool.

Five reasons to join the Investors 5.0 Microschool today:

  1. Learn how to generate 10x increase in your investments using some of the top investor 5.0 strategies that set you up for success in the digital decade.
  2. Learn how to start and manage your investments in global shares & currencies, property, cryptocurrencies, and commodities, together with how to put an Investor 5.0 Portfolio Plan together for 2021 & 2022.
  3. Receive full access to all four modules and session recordings for continuous improvement even after the Investor 5.0 Microschool has completed.
  4. Be connected to over 25,000 in the GeniusU community who are creating opportunities, connections and providing resources for each other as part of our trusted community.
  5. Get in front of 1.7 million entrepreneurs on our GeniusU platform, with your own store and a suite of future proof products.

Whether you are just starting out, you are a passive investor with basic investment knowledge or an active established investor with an investment portfolio, we have the solutions to help you succeed in global shares & currencies, property, cryptocurrencies, and commodities and build an investor 5.0 portfolio.

Join us today to reset, restructure and launch your Investor 5.0 portfolio plan to navigate and strive in the digital decade.

It’s time to turn the great disruption into your greatest opportunity for growth.

To learn more about the Investors 5.0 Microschool, please visit the website.

About GeniusU

GeniusU is an Edtech platform providing over 1.7 million students across 200 countries with personalized learning paths and microdegrees on business building skills.

About Genius Group

Genius Group is a $300+ million group of companies and is the world’s #1 Entrepreneur Education Group. Genius Group was founded by futurist and social entrepreneur Roger James Hamilton. The Singapore-based public limited company also owns GeniusUEntrepreneurs Institute and Entrepreneur Resorts LimitedLearn more here.

About Roger James Hamilton

Roger James Hamilton is a world-renowned futurist and social entrepreneur and is the founder and CEO of the Genius Group of companies. Roger is the New York Times bestselling author of The Millionaire Master Plan, a practical guide to understanding how your mind works to enable you to live your most successful life. He is also the creator of Wealth Dynamics, Talent Dynamics and Impact Dynamics, tools used by over 1.7 million entrepreneurs to follow their flow.

All of Roger’s companies empower the Entrepreneur Movement – collectively growing our ability to create and contribute wealth. Roger studied architecture at Cambridge University before launching his first business, Free Market Media, in Singapore during his 20s.  He was the founding chairman of the renowned Green School, Bali, where his three children were educated.  Roger currently lives in Europe but, when permitted, travels extensively between the UK, USA, Southeast Asia and Australia.

Cryptocurrency illustration by Heather Skovlund for 360 Magazine

Cryptocurrency × NTFs

By: Heather Skovlund-Reibsamen

Cryptocurrency × NTFs

In recent news, Tautachrome Inc. has announced its patent attorney’s opinion on the early applicability of its KlickZie patents. The KickZie application will enable users to capture images that are invisibly marked and verified as the original. The owner of the image or video will have the ability to use, sell, and monetize their images. A simple tap on the image will allow users to communicate with the image’s author or others currently viewing the image. The patent is among many in the market of NFTs (Non-Fungible Tokens).

Cryptocurrency Breakdown:

Understanding cryptocurrency can be a headache! It is best to research thoroughly before investing your hard-earned money into just any digital asset. Let’s start with the basics: what is cryptocurrency?  Crypto, crypto currency, or cryptocurrency is a digital asset designed to work as a medium of exchange where individual coin ownership records are stored in a ledger existing in a form of computerized databases using strong cryptography to secure transaction records, control the creation of additional coins, and to verify the transfer of coin ownership. Now, cryptocurrency does not exist in a physical form, like your wallet filled with dollar bills.

Crypto Coins – Altcoins: Tokens, cryptocurrencies, and other forms of digital assets that are NOT bitcoin are known as alternative cryptocurrencies.

A few examples:

  • Peercoin
  • Litecoin
  • Dogecoin
  • Auroracoin
  • Namecoin

Tokens: Created and given out through an Initial Coin Offering, or ICO – much like a stock offering. Crypto tokens are a blockchain account that can provide functions other than making payments. Tokens are usually issued within a smart contract running on top of a blockchain.

  • Value tokens (Bitcoins)
  • Security tokens (to protect your account(s))
  • Utility tokens (designated for specific uses)

What does it mean when a cryptocurrency forks?

Sometimes a cryptocurrency will ‘fork’ and yes, that does sound confusing. It can be broken down into Forks, Hard Forks, or Soft Forks. Forks can be classified as accidental or intentional. An accidental fork happens when two or more miners find a block at the same, or almost same, time. The fork is then resolved when subsequent blocks are added and one of the chains becomes longer than the alternative. The network then abandons the blocks that are not in the longer chain, then referred to as orphaned blocks.

Hard Fork: A hard fork happens if a protocol or rule is changed so that the old protocol version is no longer valid.

Soft Fork: A soft fork occurs when a protocol or rule is changed, and the old version accepts the new version; enabling it to continue working.

What exactly are NTFs?

 A non-fungible token is a unit of data within a digital ledger called a blockchain. This is where each NFT can represent a unique digital item and are not interchangeable. A blockchain is a growing list of records (blocks), that are linked using cryptography. Each block has a cryptographic hash (a mathematical algorithm that maps data), a timestamp, and transaction data.

NFTs can be used to represent digital files such as audios, art, collectibles, sports, pornography, video games, and other forms of creative work. While copies can be made of these creative means, the NFTs representing the original are tracked on their underlying blockchains; therefore, providing the buyers with proof of originality and ownership.

In order to create an NFT, a file is uploaded to an NFT auction market. This creates a copy of the file recorded on the digital ledger as an NFT. This enables it to be bought with cryptocurrency and then resold. The artist can sell an NFT representing the work and still retain the copyright to the work as well as create more NFTs of the same file.

In addition, the buyer of the file does not gain exclusive access to the work or the original digital file. Unfortunately, a seller does not have to prove that they are the original artist either. There have been many cases where are was used for NFTs without the true artist’s permission.

Most Common Types of Cryptocurrency

Bitcoin: Invented in 2008 by a person or group using the name Satoshi Nakamoto. The currency began being used in 2009 when its implementation was released as open-source software. Bitcoin was the first decentralized cryptocurrency leading the way for many others in the years to come. Bitcoins were created as a reward for a process known as mining (record-keeping service done electronically). Bitcoins can be exchanged for other currencies, products, and services.

Bitcoin Cash: A spin-off or altcoin of Bitcoin that was created in 2017 eventually splitting into two cryptocurrencies – Bitcoin Cash and Bitcoin SV. Bitcoin Cash is one of the most popular types of cryptocurrency on the market and holds a block size of 8MB. To compare, Bitcoin’s block size is just a mere 1MB. This means Bitcoin Cash processes at faster speeds for its users.

Litecoin: A peer-to-peer cryptocurrency and open-source software project released under the MIT/X11 license. Litecoin is nearly identical to Bitcoin. Created by Charlie Lee to improve on Bitcoin technology, with shorter transaction times, lower fees, and more concentrated miners. In May 2017, Litecoin became the first of the top 5 cryptocurrencies to adopt Segregated Witness – a soft fork implementation change in the transaction format of Bitcoin.

Ethereum: A decentralized, open-source blockchain with smart contract functionality developed by Vitalik Buterin. Ether (ETH) is the native cryptocurrency of the Ethereum platform. It is the second-largest cryptocurrency by market capitalization. Ethereum is also the most actively used blockchain. It focuses on decentralized applications (phone apps) – almost like an app store. Ethereum looks to return control of apps to its original creators instead of the middlemen (like Apple, for instance). The token name is Ether, which is used as currency by app developers and users.

Ripple: A real-time gross settlement system, currency exchange, and remittance network created by Ripple Labs Inc.  Ripple was released in 2012 upon a distributed open-source protocol that supports tokens representing fiat currency, cryptocurrency, commodities, or other units of value (frequent flier miles, for example). Ripple is geared more towards large companies and corporations than it is for individual users. Ripple is well known for its digital protocol because it allows large amounts of money in any form to be transferred.

Lebanon illustration by Rita Azar

Lebanon Currency Crisis

By Rita Azar

The Lebanese currency has severely depleted in value during the last few months. Although many politicians claim that the lira will stabilize at 3000 to a dollar, the currency crisis continues to rock the finances of Lebanon. Ever since 1990, 1500 liras have always equaled a dollar. Although this is a far cry from 1980 when three liras equaled one dollar, the instability of the lira from 1990 on is treacherous to the economy. The worst the conversion rate has ever been was when the dollar reached a staggering 12000 liras.

One must grasp the country’s financial decisions to understand what led to the economic collapse. Lebanon’s broken electricity, water, and waste collection systems has cost the country billions of liras of debt. Before the early 2000s, most of Lebanon’s debt was local; this means that, theoretically, the debt could be paid off by simply printing more lira, which the central bank has the power to do. But after the former prime minister, Fouad Siniora, took billions of dollars worth of foreign loans in 2007, Lebanon needed to collect foreign currency to pay for the debt debt. On top of this, Lebanon’s economy damaged by an immense decrease in tourism and foreign investments. Due to this, Lebanon has used the little foreign money that still exists in the central bank to pay off its foreign debts which leaves the citizens and companies of Lebanon unable to withdraw dollars from their bank accounts.

Due to foreign currencies being rare to find in Lebanon’s economy, they have become far more expensive. In addition, because of the abundance of Lebanese liras, the lira has fallen dramatically in value. This has led to massive gouging by all types of businesses that need to import with foreign currencies that are no longer accessible. In response, the government and central bank have taken measures to stop the massive inflation of the lira. One method is keeping the official rate, 1500 lira to one dollar, from small scale transactions and being a little more lenient with larger transactions by offering a rate of about 4000 lira to a dollar.

But, this means that the Lebanese people are losing money when exchanging foreign currency into lira. This has led many people living in the country to go to the black market to exchange money with rates other than the governmental regulations. While the black market approach has allowed many Lebanese people to get their money’s worth, it has caused the government to enforce stricter exchange rates to control inflation and ban the black market. 

 

https://www.france24.com/en/20200612-lebanon-pound-economic-crisis-protests-imf-aid-bailout-hassan-diab

https://aawsat.com/home/article/2356311/ذعر-في-لبنان-بسبب-تدهور-الليرة

https://www.alhurra.com/lebanon/2020/04/23/يسقط-حكم-المصرف-تدهور-الليرة-اللبنانية-يشعل-الاحتجاجات-مستقبل-مجهول

https://www.tayyar.org/News/Lebanon/358134/دياب–سلامة-مسؤول-عن-أزمة-الدولار

 

5 Reasons Why You Need Coin Tubes

Coin collection is a significant way to preserve history. The safety of your coins is essential if you want to avoid damage. A coin tube is one of the most simple and effective ways in which you can protect your collection.

Coin tubes are available in different styles. You can get round, clear plastic tubes or opaque square plastic tubes. If you’re still wondering why you should get one, check out the following benefits.

Protect Against Acid

Acid can come from several different sources. As time passes, acid can penetrate the cardboard papers and paper coin sleeves, causing toning and tarnish, particularly to copper and silver coins.

You’re also likely to get acid from adhesives that are mostly utilized in packaging. Wood furniture and daily household materials, such as cleaning solutions and vapors, are other acid sources.

Protect from Air Pollution

Air pollution is not only harmful to human health but also coins. It is common in urban areas where smog from vehicles and industries penetrates through the buildings. Although specific measures have been taken to limit the dangerous gases emitted by cars, they still exist in sufficient quantity for coin damage.

In that case, an openly stored coin will not be spared. Fortunately, with coin tubes, you can avoid this damage.

Keep Off the Human Touches

You may think that this is absurd, but touching your coins with bare hands is enough to cause damage. High-grade rare coins are most susceptible to this kind of problem.

The damage takes place once your fingers come into contact with mint state or proof coins. Once this happens, the oil on your hands will stick to the coin surfaces, which can cause discoloring and microscopic scratching on your coins.

All in all, this can be avoided by storing your collection in a durable and airtight coin tube. Consequently, you will no longer have to worry about contamination that can result from your hands.

Protect the Coins from a fall

Dropping your coin on a hard surface is another way in which it can be damaged. The impact can cause an irreversible effect that can lower the quality of your piece. A corroded, dented, scratched or gouged coin is a damaged one.

Fortunately, with the right environment, you will not have to worry about this. Coin tubes can protect your coins against any potential harm. That will, in return, preserve the quality of your pieces.

Humidity

Humidity is a dangerous enemy of a coin. That is because silver and copper are the common materials used during production. The two metals tend to react immediately when they come into contact with water. However airtight coin tubes can protect your coins.

Coin tubes are an excellent way to store and organize your coins and keep them safe from
contamination. If you need one, places like Hobbymaster are here to help you.

Can Facebook’s Libra Make Cryptocurrency Mainstream?

When Facebook announced plans for a stablecoin called Libra, the reaction from the cryptocurrency world ranged somewhere between skeptical and cautiously optimistic.

But, regardless of any specific merits of Facebook’s version of a digital coin, the social-media giant’s move could help speed the adoption of cryptocurrency to a larger audience, says Kirill Bensonoff, a serial entrepreneur and an expert in blockchain.

The biggest issue now is that most people are not familiar with crypto; they think it’s difficult to use, and they may not trust it,” Bensonoff says. “Facebook will put a digital wallet on many phones and computers, and sending payments with crypto will become commonplace.”

Facebook’s Libra is proposed as a stablecoin, which is a form of cryptocurrency. Using Libra, people would be able to buy things or send money to others while paying, at most, minor fees. Unlike other cryptocurrencies such as , the value of stablecoins is tied to an asset such as gold, the U.S. dollar, the Euro or other currencies.

Facebook won’t have complete control of Libra. It’s just part of a bigger group of partners that’s creating the stablecoin.

What might all this mean for the future of cryptocurrencies – and for the average person who still knows little about them? Bensonoff says a few things worth knowing about Libra in particular and stablecoins in general include:

Bringing stability to cryptocurrency. As the name implies, the idea of stablecoins is to bring more stability – and more peace of mind for wary investors – to the world of cryptocurrency. “I don’t think Facebook will bring stability immediately,” Bensonoff says. “I believe it’s going to take a lot more in terms of mass adoption, but Libra could be a step in the right direction.”

The SEC’s view. Regulators at the Securities and Exchange Commission have been eyeing stablecoins with the possibility that some of them could be classified as securities. “That could put stablecoins in the same category as stocks, subject to the registration, disclosures, and accreditation of investors that demands,” Bensonoff says.

Will Libra replace PayPal? Maybe not, considering that PayPay is one of the founding members of Libra, Bensonoff says. “I think they will have some influence on the direction,” he says. “However, crypto in general is a threat to all existing payment processors, including PayPal. I believe PayPal is smart and will adopt and accept crypto payments, and they will figure out a way to monetize it. The downside for them is they won’t be able to charge nearly as much as they do now.”

“I believe Libra is going to have a positive impact in terms of awareness, adoption and interest in cryptocurrency from both businesses and consumers,” Bensonoff says. “But at the same time, with that could come more regulatory scrutiny.”

About Kirill Bensonoff

Kirill Bensonoff has over 20 years experience in entrepreneurship, technology and innovation as a founder, advisor and investor in over 30 companies. He’s the CEO of OpenLTV, which gives investors across the world access to passive income, collateralized by real estate, powered by blockchain. In the information technology and cloud services space, Kirill founded U.S. Web Hosting while still in college, was co-founder of ComputerSupport in 2006, and launched Unigma in 2015. All three companies had a successful exit. As an innovator in the blockchain and DLT space, Kirill launched the crypto startup Caviar in 2017 and has worked to build the blockchain community in Boston by hosting the Boston Blockchain, Fintech and Innovation Meetup. He is also the producer and host of The Exchange with KB podcast and leads the Blockchain + AI Rising Angel.co syndicate. Kirill earned a B.S. degree from Connecticut State University, is a graduate of the EO Entrepreneurial Masters at MIT, and holds a number of technical certifications. He has been published or quoted in Inc., Hacker Noon, The Street, Forbes, Huffington Post, Bitcoin Magazine and Cointelegraph and many others.