Why Ethereum Is Dying, 90% Swallowed By Tether (USDT)

By Judith Riseshine - 

Things are no longer the same for the second-largest cryptocurrency project by market capitalization, Ethereum. It has been a struggle to keep afloat, majorly sustained by a controversial stable coin, Tether. This development leads a prominent personality in the crypto industry, Samson Mow, to slam the digital asset, suggesting it is at a “technological dead end”.

Since being created in 2013, Ethereum has been admired by developers, programmers, and enterprises for its real-world easy to follow approach. Its smart contract platform technology has been used by many alt coins, enterprises, and startups to develop their projects' fundamental principles.

Ethereum’s capacity earned it second position in CoinMarketCap’s top 10. Its ROI is about 8,418.58% circulating supply and the total supply is reported as 106,100,450 ETH.

In May, the Ethereum market cap was at 25,597,335,047 USD, but the price fell to stay above $185 against the USD. The downward trend saw the coin going down to $162 and it has struggled more than bitcoin. It continued to maintain a strong resistance around $170 and $175, and the current price is 87% down from the all-time high.

The transactions came down from its peak in January 2018, though the fees are far lower than bitcoin, they are volatile.

Issues Surrounding Ethereum That Affect Its Growth

Ethereum has the same unaddressed scaling issues which have limited the first tier cryptocurrencies like bitcoin. These issues brought its network utilization to 90%. The network utilization is presently sourced from Tether (USDT), indicating a surge in on-chain transaction fees which may be too high for developers. For this same limitation, developers will be forced to migrate to other chains.

The Ethereum 2.0 was designed to initiate proof-of-stake and sharding solutions to the network and fix the current scaling issues.

To this, Samson Mow explained that the Ethereum technology which is supposed to become stronger as it is used, rather dies faster the more it is used. Unfortunately for Ethereum, Tether also operates on the same Liquid Network that is more scalable. Mow suggests that Lightning Network can be created of Tether assets.

Ethereum Network Is Almost Full

The Ethereum creator, Vitalik Buterin responded to Mow's statement, explaining that full network utilization is not peculiar to Ethereum but all the first tier digital assets like Bitcoin. He went further to point out that his network is not the only one facing the scaling issues, other blockchain projects are also having the same issue because the available scaling solutions have not been able to solve their problems.

Buterin pointed out that the number one digital asset, Bitcoin, is also as full as Ethereum. He thinks it is still okay to develop apps even with the current situation, but not anything substantial that can create higher transaction fees which will culminate in growing demand for Ethereum.

It is expected that the ETH 2.0 sharding will fix this issue in the long term. Ethereum 2.0 will change the whole of its technology, so the second-largest crypto project team is still trying to figure out how everything is going to work. But the major challenge is that developers are not likely to wait until the implementation of Ethereum 2.0, some have already migrated to other platforms.

Currently, Ethereum has adopted a different kind of transaction verification, known as miners to verify transactions and it is moving to stake. But there is no proven guarantee this is going to work.

Tether Has Taken Up Much Of Ethereum's Capacity

A couple of years back, the Ethereum network became saturated as the digital game CryptoKitties came into existence. Most of the initial coin offerings turned out to be scams and also took up space on the network. As the majority of those ICOs were trashed out, a new project, which is Tether, is occupying the space.

Tether keeps on growing as more coins are issued. Recently hitting a market capitalization of $4 billion from $2.7 billion it was a year ago, according to coinmarketcap.com.

About 40% of Tether transactions run on Ethereum. Other developers don't have enough space to run on Ethereum since more of it is taken up by Tether. In the past one month, Tether paid computers processing transactions on Ethereum's digital ledger $260,000 in fees.

DappRadar.com report shows that Ethereum was created to improve upon Bitcoin limitations, this stirred up the interest of enthusiasts because it enables them to automate tasks using its extra features. It can also be used to set up an autonomous corporation that runs via software. These apps are now on digital ledgers.

Other Issues Plaguing Ethereum Network

Ethereum intends to support as many users as possible, according to Vitalik, the long term goal is for the platform to be able to process transactions at the level of Visa or even more. Now Ethereum blockchain currently supports 15 transactions per second compared to the 45,000 processed by Visa.

This transaction rate is a far cry compared to what is expected of the project, but its architects believe Ethereum can still meet up with expectations.

Difficulty in Scaling

One of the reasons why it is difficult for Ethereum to scale is that it uses some technical strategies and incentives just like Bitcoin, to keep track of who owns what, without a central authority.

The difficulty in safekeeping all these records and growing the number of users is that the Ethereum platform depends on a network of nodes. Each of these nodes stores all the transaction history such as state of account balances, contracts, and storages. Every 10 - 20 seconds, the total number of transactions increases with each new block, making this record-keeping a difficult task.

Developers can't increase the block size to accommodate more transactions because the data will be too large for the node, throwing out some people out of the network. On the other hand, enlarging the node will still affect scalability since it is only a few organizations can afford the cost.

Database Sharding

Each node on the Ethereum network needs to store the update on every account, sharding breaks database into pieces and positions each part on a different server.

Sharding removes networks from requiring full nodes, which stores the state of the network and every transaction that took place. The problem here is that the nodes need to rely on other nodes.

Ethereum plans to solve this problem using the blockchain technology to ensure there is correct interaction between nodes.

Though all these issues have limited Ethereum's growth, making it unable to meet the expectations of developers and programmers, the team is still nursing an ambitious move to salvage the network.

Taking in tow with Bitcoin could help Ethereum expand its technological capacity by using the Lightning Network. This is a second layer solution, built separately on top of a network to interact with the network and enable it to perform faster.

Application of Lightning-style 'off-chain' transactions could help the network scale-up to expectation. Most of the transactions will be made on 'off-chain' micropayment channels to reduce the burden on the network. This will yield a better result because the parties can end the transaction at will just by pushing it back to the blockchain.

So, even if the computation limit is not extensively expanded, the network users can run a full node. However, reviving the Ethereum network should be the ultimate plan for the team right now, developers and other users may not be patient enough to hang around for so long.

Sources

https://www.forexlive.com/cryptocurrency/!/ethereum-falls-to-lowest-since-may-in-crypto-slump-20190828

Ethereum Interest Dwindling, Twitter Engagement Shows

https://cryptodaily.co.uk/2019/08/ethereum-remains-on-the-verge-of-a-crippling-downtrend

https://www.bloomberg.com/news/articles/2019-08-26/ethereum-almost-full-as-controversial-coin-gobbles-up-capacity?utm_source=twitter&utm_content=business&utm_campaign=socialflow-organic&utm_medium=social&cmpid=socialflow-twitter-business

What We Bring To The Table: Thanksgiving Edition

By SquirrelFeather Mikhail - 

On the last Thursday of every November we celebrate with food. This particular celebration differs from others throughout the year in that we are celebrating the things that we are thankful for. This has been a tradition since the first Thanksgiving celebrated by the Pilgrims after their first harvest in a new land in the year 1621. I wonder if the participants had a clue that this would become a tradition for the American family. While the Pilgrims were thankful for a successful harvest, each person’s reason to be thankful are as varied as the dishes we serve on this most traditional of holidays.

A brief history

Although the first “Thanksgiving” was celebrated in 1621, it was not officially declared a holiday until 1863 by President Abraham Lincoln, although New Englanders had been celebrating it for years. Further research has shown that feasting every fall has been a tradition among Native American and European civilizations for hundreds of years. Nonetheless, Thanksgiving has become a time for families to gather and feast and be grateful for the blessings that have been bestowed upon them. A great tradition is to go around the table and have everyone name something they are thankful for. And while the times have changed quite a bit from the Pilgrim’s days, we are all still essentially grateful for the prosperity, no matter how minuscule it may be, we have had over the previous year.

Traditional dishes

The first thing we think of when we picture Thanksgiving, is that big juicy turkey in the center of the table. Whether it is baked, smoked, or fried, turkey is tradition. Then of course is the dressing (or stuffing for my non-Southern readers), mashed potatoes, sweet potatoes, corn, and don’t forget the pumpkin pie, and those are just the basics. A very carb heavy meal to say the least, which is probably why everyone passes out afterwards. I wouldn’t want to check blood glucose levels after that meal for sure.

I always cook so much for Thanksgiving that I do not have to cook for the rest of the week, and I planned it this way on purpose. Prep for the “big meal” takes at least one full day before Thursday, unless we want to eat at 10pm on the big day. Without a doubt, the majority of my preparation goes into my cornbread dressing, but it is well worth it. In the South, it is tradition to have this main staple on your table along with baked mac and cheese, collard greens, fried cornbread and field peas, etc. Most Thanksgivings in the South are essentially a potluck dinner. Everyone in the family brings their best dish or two. This results in a spread that would make Golden Corral jealous and rival any church dinner you’ve ever attended. Wherever you are, the traditional dishes will always be on the table, but it is the preparation that differs by region.
Let’s talk turkey...
Roasted turkey is traditional, but some prefer fried turkey. We fry everything in the South. Preparation can be tricky and more than one first timer has caused a small inferno trying this method. There is the traditional roasting in the oven bag or even a paper bag. If you’ve never had the opportunity to try a smoked turkey, I highly recommend it. I personally recall one year
that we did not have an oven, but had a grill. There we were, butchering a 20 pound turkey and slapping it on the grill and it was phenomenal. And then there is the extreme, the Turducken. If you’ve never heard of this, let me enlighten you. This is a chicken stuffed in a duck stuffed in a turkey, filled with cornbread dressing and sewn up. This unusual dish originated in Louisiana (go figure), but has become popular in other areas of the country. It’s not everyone’s cup of tea, but I would not mind trying it before I pass judgement. Whatever your method, just remember to remove the internal organs before cooking (and save them for the gravy) and always cook your bird to temp. You don’t need a trip to the ER for salmonella poisoning.
Stuffing or dressing
So first, what do you call it? Traditionally, it is called stuffing if it is actually stuffed into the turkey and dressing if it is baked separately. In the South, we call it dressin’ whether it is stuffed or not. We also use cornbread for the base among other ingredients like saltine crackers and/or traditional Pepperidge Farm stuffing… we like bread. Various herbs and spices may be used along with hard boiled eggs, onions and celery and in some cases, shredded chicken. Some put oysters in the dressin’ which is a practice in any state that borders the East or Gulf Coast. Some regions will use fresh baked bread for their base and add ingredients like walnuts, apples, dried fruits, sausage, and even bacon or chorizo. Basically, I feel like you can’t go wrong with whatever you put in your stuffing, as long as it is not dry. There is nothing worse than dry stuffing, except dry turkey of course.
Side dishes
Now here is where it gets interesting. You can basically have anything and everything for sides, and we often do. There are some classics, however, that will never die. Casseroles of all kinds usually make an appearance on the Thanksgiving table. First and foremost being green bean casserole, which seems to be a favorite country wide. It's simple and tasty and there are so many variations you can please anyone's palate, unless they are emphatically anti-green bean. Then there’s corn casserole, sweet potato souffle, broccoli cheese casserole, the list could go on ad infinitum. Basically, you could make an amalgamation of any veggie and it would be delicious in my opinion. Then there are mashed potatoes, rolls, and you must not ever forget the baked macaroni and cheese. Kraft is fine for regular dinners, but Thanksgiving is a special occasion and demands the delicious creamy cheesiness of baked mac and cheese. Then there are the salads… macaroni, potato, pea salad and your regular old garden salad. Some more sophisticated celebrants may go for a slightly fancier options for sides, like roasted brussel sprouts, spinach salad with brie toast, glazed baby carrots, roasted heirloom potatoes and green beans almondine. However you choose to supplement your turkey, you can't go wrong as long as you know your guests, and of course, any potential food allergies or preferences.
Cranberry sauce
This deserves its own section. There are purists who may turn their noses up at jellied cranberry sauce from the can. To be perfectly honest, this is my go to mostly because with all of the other preparation I go through, I simply do not have time to prepare fresh cranberries. It seems easy enough, but truthfully my family prefers the jellied kind. There are so many different ways you can prepare your cranberry sauce by adding different fruits and spices. Cherries, oranges or dates can dress up your cranberries, or you could choose a more sophisticated cranberry chutney recipe or a more adult themed Cosmopolitan cranberry sauce recipe (inspired by the cocktail of the same name).
Desserts
If after indulging in dinner you are craving something sweet, the dessert table will be your next stop. There are few tables that won't have pumpkin pie, although the preparation may differ. Of course there's the traditional pumpkin with nutmeg, cinnamon and ginger. Then there are the more sophisticated versions, like Amaretto-almond crunch pumpkin pie. There could also be pumpkin pie cheesecake, pumpkin tarts or pumpkin pie parfaits to name a few. Whatever your passion, there is something for everyone. But wait, what about sweet potato pie? Or pecan? Chances are there will be a plethora of pies to choose from including, apple and cherry. A person could go insane trying to choose, so just take a tiny sliver of all of them.
Alternative meals
We cannot forget about our vegetarian and vegan friends, or those on special diets in this article. One more thing to be thankful for this holiday season is the Internet and the abundance of alternative menus offered for those with less "traditional" needs. There are gluten free recipes, keto recipes, vegan and vegetarian options all available with a quick Google search.
For our vegan friends, there are recipes for pumpkin pie, green bean casserole and you can even roast a head of cauliflower as a turkey alternative if you don't like the meatless turkey options. Keto dieters can make an alternative to mac and cheese with cauliflower, stuffing made from keto bread, even keto friendly pies. The possibilities are endless, whatever your dietary needs may be. I may even try a couple of these for my own Thanksgiving feast.

Be thankful
However you choose to celebrate Thanksgiving, it is important to remember that regardless of the food you serve, be thankful. Be thankful for your family and friends and enjoy the time you have together. Be grateful for your blessings, no matter how big or how small and extend that to everyday of the year.

We reached out to the community and asked what folks were most thankful for and here are a few of their responses:
David Gokhshtein: The G Media Family. I’m also thankful for good friends. I’m also thankful for life itself. It’s a beautiful thing. If you’re breathing you have nothing to complain about.
@cryptowendyO: Thankful to be alive
@RedKatLife: I’m immensely grateful for all my crypto fam I’ve met over the past 2 years ❤️ ❤️ ❤️ & many more great folks to meet going forward!
@IAmMikeHanson: Thankful for my 1st forthcoming child in 2020
@LuggageDonkey
my immediate family A, L, Q
my health
my parents
sunlight
clean water
unpoisoned food
Unpolluted air
@CryptoEuclid:I'm thankful for @mysticaloaks and my kids:

@mysticaloaks: I'm grateful for the time I have to spend with those I love, this planet we live on, being born in a time and place in which I have the freedoms I have, and for those I love.
And for beach days like this :

Lastly, we’d like to leave you with a few recipes. Typically magazines are full of recipes on how to create the original dishes, but we thought it’d be fun to showcase a few of our favorite sammies for inventive use of leftovers. Enjoy!

Thanksgiving Crunchwrap

Tired of the same ol' leftover Thanksgiving sandwich? This crunchwrap is the perfect way to shake things up. Don't have all the leftover ingredients? No worries! Just use what you've got. Everything short of pumpkin pie will work just fine. 😎

INGREDIENTS

4 large flour tortillas
1 c. leftover mashed potatoes
1 c. leftover green beans
1 1/2 c. shredded leftover turkey
1 c. leftover cranberry sauce
1 c. leftover stuffing
1 c. shredded white cheddar
1/2 c. gravy, warmed, for serving

DIRECTIONS

* 1. Spread 1/4 cup of mashed potatoes in the center of each tortilla, then top with a layer of green beans, turkey, cranberry sauce, stuffing, and white cheddar.
* 2. Fold tortillas around the center, creating pleats. After wrapping, quickly invert crunchwraps so the pleats are on the bottom and they stay together.
* 3. In a medium nonstick pan over medium heat, heat a very thin layer of vegetable oil. Working one at a time, add crunchwrap seam-side down and cook until tortilla is golden on the bottom, 3 to 5 minutes. Flip crunchwrap and cook until the other side is golden, 3 to 5 minutes more.
* 4. Repeat with remaining crunchwraps. Cut each in half and serve warm with gravy.

(source: https://www.delish.com/holiday-recipes/thanksgiving/a25223451/thanksgiving-crunchwrap-recipe/)

Turkey, Mozzarella, and Kale Pesto Panini

An insanely delicious - and stuffed - panini recipe.

INGREDIENTS

1 bunch kale, leaves stripped and blanched
1 c. fresh basil leaves
1/2 c. extra-virgin olive oil, plus more for brushing bread
1/4 c. freshly grated Parmesan
1/4 c. walnuts
1 clove garlic
kosher salt
1 loaf ciabatta or focaccia
1/2 lb. sliced turkey breast
1 large tomato, sliced
6 oz. mozzarella, sliced

DIRECTIONS

* 1. Make pesto: In the bowl of a food processor, combine kale, basil, and oil and pulse until combined. Add Parmesan, walnuts, garlic, and salt and blend until combined.
* 2. Slather pesto on ciabatta and top with turkey, tomatoes, and mozzarella. Brush bread with oil.
* 3. Cook in a panini press (or in a skillet over medium heat with a heavy pan on top to press it down) until golden and cheese is melty.
*

(Source: https://www.delish.com/cooking/recipe-ideas/recipes/a46640/turkey-mozzarella-kale-pesto-pani ni-recipe/)

Turkey-Bacon-Avocado Grilled Cheese

These ingredients are the three best friends that anybody could have.

INGREDIENTS

3 slices bacon
1 tbsp. butter
2 slices bread
2 slices turkey
1/2 avocado, sliced
2 slices cheddar

DIRECTIONS

* 1. Cook bacon over medium-high heat until crisp, 6 minutes.
* 2. Drain excess grease on paper towel, then wipe pan and reduce to medium heat.
* 3. Spread butter on one side of each slice of bread. On the non-buttered side of one slice, place turkey, bacon, avocado and cheddar, then close sandwich.
* 4. Place sandwich in pan; cover and cook until golden brown, 3 to 4 minutes. Flip, and cook the other side until cheese is melty and bread is golden brown, 2 minutes more.
* 5. Slice in half and serve.
*

(Source: https://www.delish.com/cooking/recipe-ideas/recipes/a46509/turkey-avocado-bacon-grill ed-cheese-recipe/)

Travel Destination – Montevideo, Uruguay

By Gabriel Negrín - 

Overview
Montevideo is the capital of Uruguay and is often considered the cultural hub of the country as well. It is a city that offers something for everyone, from art to music and food. Most of the time, its beautiful leafy streets give way to seemingly spontaneous flea markets and artisan bazaars, where you might find some interesting designs while you are also enjoying the sound of traditional Candombe drums. Also, unlike any other country in Latin America, Uruguay is regarded as one of the most socially advanced countries. This country is well-known for its high measures of personal rights, tolerance, and inclusion issues, including legal gay marriage since 2013 and legal marijuana use since 2012, particularly groundbreaking in Latin America at the time.

How Long To Stay
Montevideo seems to be a perfect city that has it all. This is the type of city that has so many places to go that you will find yourself questioning the amount of time you should stay. We recommend you to stay at least four nights to really get a flavor of the city, but if you have the opportunity to stay for more days, then it might be better to stay for a week or ten days and do some day trips.

Top Things To See & Do
Walk along the Rambla
If you want to take a break from everyday life to enjoy a sunrise or a sunset then what you need if to take a walk along La Rambla. It’s about 10 miles long and separates the city from the sea. Also, it is possible to walk from the suburban parts of the city into the old town without any interruption, which can give you a real Uruguayan experience.

Teatro Solís
Teatro Solís is the second-biggest theatre in South America and the most important theatre in Uruguay. The Italian inspired theater has hosted some of the greatest performers in the artistic world, making it an art center within the city. The main hall of the theatre offers space for 1,500 people and is used for performances of operas, but also theatre events and concerts.

Montevideo’s Beaches
If it is a hot day and you want to have a good time, you should visit Montevideo’s beaches. There are a few on the outskirts of the city, along the Rambla, and near the Old Town.

Plaza Independencia
No visit to any country is complete without a trip into the heart of the city. Therefore, you must visit the Old Town which is a place full of history and attractions, and we recommend you to start by the Plaza Independencia. From there you can reach the Teatro Solís, Palacio Salvo, and will see the remains of the city walls and town gate, which is the beginning of the original town.

Museum of Fine Arts “Juan Manuel Blanes”
This museum is named after the famous Uruguayan artist Juan Manuel Blanes, and it opened in 1930. The building itself is reminiscent of the classic Italian villas built in the Renaissance style. The Museum of Fine Arts keeps paintings by Blanes but has displays of other national and international artists. Also, you cannot miss taking a stroll through the surrounding Japanese garden.

Fortaleza Del Cerro
Fortaleza Del Cerro is a fort built in the 19th century to protect the population and the port. It is located on the highest mountain in the city and nowadays, it is a popular destination to enjoy a beautiful view of the city and learn more about Montevideo’s history.

Mercado del Puerto
This building made of steel was originally a market for fruit, vegetables, and meat. Nowadays, it’s still called the ‘Harbor Market’, but there are not many market stalls and stands. Surprisingly, the Mercado del Puerto is home to a good variety of restaurants. The majority of them offer the specialty “parrilla”, a grill for sausages, meat, and seafood.

Yerba Mate
A trip to Uruguay would not be complete without “parrilla” and Yerba mate. Yerba mate tea is Uruguay’s traditional drink – it is made from herbs taken from the mate bush, over which you pour boiling water. The original way to drink it is to use a mate container, filled up with the herbs and hot water, and drink it through a “bombilla”, which works like a straw that filters the infusion.

Candombe
The Candombe music and dance performances were brought to South America by African slaves and it is still practiced today. Also, the Candombe is declared as part of the world’s cultural heritage by UNESCO and is still presented on Sundays at 7 pm in the district of Palermo in Montevideo. Don’t miss the opportunity to listen to some amazing music.

When To Go
The best time to travel to Uruguay depends on what you want to do. If you want to enjoy of Montevideo’s beaches, then the best time for you is during its summer months between November and February. However, travel is possible year-round; especially if you’re focussed on visiting more cultural sites and cities.

Costs
As well as Argentina, Chile and Brazil, traveling in Uruguay is not cheap and you often spend the same amount as when you travel to the U.S. and Europe. People usually say that prices in Uruguay are even higher than in Argentina, more than 20% higher.
For short-term travelers looking for a vacation in Uruguay, we recommend having a similar budget to that you would for a vacation in the United States or Europe. For long-term travelers, we’d say that you should plan a daily budget of $45 per person, based on two sharing.

Where To Stay
One of the best things about traveling to Montevideo is that you will find a place to stay, depending on the amount of money you’re willing to spend.

Budget options
Montevideo Lounge Hostel, MedioMundo Hostel, and Habemus Hostel are some of the best places where to stay if you’re on a budget, and the best part is that they include breakfast. Therefore, you’ll be saving some money.

Mid-range options
Ciudadano Suites, Don Boutique Hotel, and Ibis Styles Montevideo offer a good location among many other things. Rooms are big, with wi-fi, TV, and air conditioning. Also, they offer breakfast.

Luxury options
For the luxury traveler, one of the options is to stay either in Alma Histórica Boutique Hotel or Radisson Montevideo Victoria Plaza. Both offer a huge variety of things, from wifi to TV, air conditioning, good location, and excellent service. Also, you can stay at Sofitel Montevideo Casino Carrasco & Spa, and enjoy celebrity treatment with world-class service at the most prestigious hotel in Montevideo. Featuring spa and gym facilities, and both indoor and outdoor swimming pools, just 5 minutes from the airport.

Sphere Of Influence – Their Side Of The Story

By Crypto Mikhail - 

“Influencer”. It’s a term that gets tossed around a lot. At the turn of the century, nobody could have guessed that it would be an actual profession. The term “a person of influence” has appeared in texts for hundreds of years. It’s something people aspire to be. The thought that their words could sway the thoughts and actions of others. This is not necessarily a bad thing. Marketing firms rely heavily on them. There’s just something about the testimonial of someone people have come to admire that can serve a brand better than all the millions of dollars spent on advertising. In the new millennium, however, some have taken it a touch too far. Horror stories of so called “influencers” being so full of themselves that they throw fits when they don’t get their way and expect things to be handed to them. It has almost served to bastardize the original intent. Much like respect, influence is earned. One cannot simply be influential just because you say you are.

The cryptosphere is no different. A common phrase at Gokhshtein Magazine is one coined by David himself:

Seek educators, not influencers.

From the earliest days of the space, we have been so hungry for adoption, that we’ve latched on to anyone worth listening to and eaten up their words like crypto candy. (Credit to Elon Musk for coining the term crypto candy). This has unfortunately led to some bad actors in the space. Those that would seek to use their popularity to scam people out of money or worse. False idols have always existed in some form or another. Sometimes they can have the opposite effect. Leaving us so jaded that anyone with sufficient popularity is then looked down on. Internet trolls go as far as to become jealous of their popularity and run smear campaigns. Then we become jaded to that and fail to suss out actual scammers. When everyone is looked upon with suspicion it becomes some sort of Orwellian circle jerk of finger pointing and negativity.

We recently had the opportunity to meet up with several people within the social media space that have a diehard following. Not simply those with the highest likes and follower counts, but with the highest consistent density of engagement and reputation for name recognition in social circles. Our interactions with them at the WCC were great and a bit eye opening. It is for that reason that we decided to highlight their side of the story. What it’s like within their sphere of influence.

Nye

Michael Nye is probably one of the most talked about figures in the space. From his jet-setting around the globe and meetups with the cream of the crop in the cryptosphere, it would surprise many newcomers that he hasn’t been as active in the space for as long as you might think. Sometimes quite serious, sometimes just taking jabs at the status quo. He gets just as much attention for punchy one liners as he does all out rants… often more so. Considered by some as constantly reinventing, he shows his affinity for exploration across his platforms. Whether they be to other cultures, deep dives into tech and investment, spirituality and self realization, etc. You can usually count on him discovering something new on a pretty regular basis. In essence his followers are along for the ride.
Where’s the best platform to find your content?
Really, I’m all over. Twitter/IG: @MrMichaelNye, YouTube and multiple streaming platforms with my “What is Crypto” podcast, even TikTok, lately. Honestly, sometimes it’s hard to keep up with my own as my online presence lately has been mostly in service of clients. I try out all the different social media apps to help stay current on the most popular forms of online outlets for my clientele through Titan Ventures. Bringing people together has always been a passion of mine. In college I was involved in the creation of an app called Social Link. Things have evolved a lot since then, but the overall goal remains the same.
How long have you been active in the cryptosphere?
I was first introduced to crypto in 2012. Very briefly. I owned a little bit of bitcoin back then. I was re-introduced to crypto back in 2017, when a buddy of mine was getting into it and was encouraging me to do the same. Ironically, he didn’t last as long as I did. I was hooked.
What brought you into the space to begin with?
At first, it was just curiosity. Here was something brand new that only a handful of people in the world truly understood. I spent as much as 15 hours a day just learning and studying and trying to get into the charts and understand what was going on. This was in a time in my life when things weren’t really going all that well. Crypto gave me something to focus on when my mind was scattered. At first it was all about gains, sure. That’s probably anyone. I saw it as a way to change my life in a positive way. To take the financial problems out of the equation and help me do the things I was truly passionate about.
Many popular figures in the space don’t like the term “influencer”. What would you call yourself instead?
Honestly, the term makes me cringe a little bit. I get called it a lot and sometimes just shrug it off, but the term evokes some sort of a sense of manipulation. I help companies get the word out and package their marketing to target to the types of audiences that will be most receptive to their product or service, but it still isn’t necessarily “influencing” them. I always encourage any of my followers to DYOR. Don’t let one talking head tell you what to invest in. I don’t really know what you’d call me. I try to be an educator, a counselor. I try to be there for the community when they need me. I try to make good content people like to engage with. In the end, though, I’m just a person.
How has the experience of gaining so many followers affected you? Did you ever think that you’d become this popular in the community?
You know, I’ve tried to remain humble about it. When I first entered into the community, I did so behind a mask of anonymity. There are lots of people that are still behind that mask, and I respect that. Over the last 2 years, my followership has grown a lot. Not as much as some, but I never really put much stock in quantity. I prefer quality. The amount of engagement I get on a random post doesn’t matter to me as much as that I’m offering value to those engaged. If I make someone think - awesome, make them rethink - even better. If I make someone feel something, though... that’s the best.
What would you say is your primary focus in your engagement with the crypto community?
Honestly, that really depends on the individual. I’ve tried lately to broaden my content to speak to those that are at different levels of understanding with the crypto space. Sometimes we make the mistake of assuming that everyone knows as much as we do. There’s an apparent void of entry level knowledge in the space. Everyone is either a n00b or an expert. Obviously this isn’t true. I’ve had people speak to me privately and admit that they don’t ask as many questions as they’d like to for fear that they’ll be made fun of. Trolls can be brutal. For that and a million other reasons, I decided to come out with educational content to help people to gain the necessary knowledge to navigate this crazy world of new tech and investments. Something like this didn’t really exist when I first entered the space. Things would be a lot different if we were more patient with new people.

What’s a common misconception about you or your brand that you’d like to dispel?
People are going to think whatever they want. I used to let things bother me, but over the years, I’ve become less susceptible to it. When I first created my online profile, I went by the name “Shill Nye”. It was supposed to be funny. Everyone had their creative handles that made some pun about crypto, so that was mine. Rumors began to persist that all I did was use my influence to shill my own bags and that I would just as soon scam someone out of their hard earned money to enrich myself. All stemming from a silly name. I’ve never scammed anyone. I’ve never encouraged anyone to spend any money they didn’t have on anything.
Tell us a little bit about your crypto journey. How has your content grown since you first began?
I’ve shifted my focus to education, and some people see that as selling out. This is almost hilarious to me. You adapt to a market or you stagnate and die. You see a need and make a value prop. My value prop is sharing my knowledge, my experience, and my connection to different people in the community to give them things to look forward to. In the bear market and the world we’re living in, everyone seems to find some reason to be negative. I already dealt with that in my life. Crypto was my way out of negativity. I want it to be the same for others.
What would you say has been the biggest change in the space since you started? How have the markets changed? What about public perception?
This is a hard one. I regularly have to do a pulse check on the different things that are trending to help my marketing clients. I think everything happens in cycles. When the cryptosphere first started it was all about the tech. Slowly, as it started to become a vehicle for financial gain, the focus shifted to that. Now that we’ve been through a bear market, we’ve circled back to the tech and are learning from our mistakes. Public perception is something people don’t really want to admit to themselves. As much as it has increased from the early days, and people and businesses are taking notice, the majority of people couldn’t tell you the first thing about crypto beyond that they may have “heard of Bitcoin”. I was recently on a panel for the World Crypto Conference in Las Vegas. Some were arguing that a major financial meltdown was going to happen and that people would turn to crypto. This sounds good, but I have my doubts. I feel like it’s an almost elitist way of viewing it. As if those that are on the bottom are going to somehow magically go from having no investments to adopting a completely different currency/way of doing things is a foolish way of looking at it. Does crypto have the potential to make huge changes to world economies? Absolutely. But we have a lot longer to go than people like to admit.
If you could use blockchain technology to solve one problem in the world, what would it be?
I’ve thought a lot about this. I spent a lot of years exploring spirituality. I’ve travelled all over the world. One question I’ve found myself asking is “Why would an all loving divine being allow the kinds of suffering I’ve witnessed?” While I don’t consider Satoshi Nakomoto a messiah or anything, I think that blockchain technology has the capacity to help put an end to human suffering. From providing transparent, scalable, and innovative solutions to end world hunger, water shortage, corruption in politics, etc. The human element is the thing that needs to change most, though. There needs to be a will to take the big leaps toward progress. If we use blockchain to help end human suffering, our society will advance at thousands of times its current rate.
What types of projects or tokens are you most bullish on in the near future?
Projects that focus on solving real world problems - not inventing new ones and then “solving them”. I think that the days of having an idea and selling vaporware are long gone. So many ICOs came out in 2017 and only a small percentage of them withstood the test of time. I think today’s investor is much more savvy. I think that the competition is a lot more fierce. When I look into a project, I look for a team that has the talent and the drive to actually get their mission accomplished. I get approached by projects constantly. I have to turn down lots, not because they don’t have a good idea, but I have doubts that they are ready to market. This isn’t a game anymore.
What is something that most people don’t know about you that you think would be interesting?
I make music. I guess I always have, really. Ever since I can remember, music has gotten me through some tough times. It’s inextricably linked to all my memories. Good and bad. I spend hours listening to it and writing it.
What kinds of projects are you currently working on - in or out of the cryptosphere?
My What is Crypto podcast is available on multiple platforms. I’ve managed to already interview quite a few well known figures in the space. I want to use it to bring real fundamental education to the space. I co-founded Titan Ventures, a consultancy firm with a lot to offer to different companies in the space. We help with brand exposure, investor relations, marketing - really you name it. We want to help companies get a leg up in this competitive marketplace. I also have a project I’m working on with my music. I won’t say too much about it right now, but I’m really looking forward to sharing it with the world.
Who do you get inspiration from?
Oh wow, so many people. I’ve been blessed to have the opportunity to travel all over the world. In that time I’ve met so many people who have inspired me in so many ways. A better question might be “Who doesn’t inspire you?”. I’m at the point in my life now that I want to constantly surround myself with people that inspire me. Those that seek to squander their energy on negativity don’t really have a place in my life.
What’s the one thing you’d like to relay to all of your fans/followers?
Don’t put people on a pedestal. You have the capacity to think for yourself. Draw your own conclusions. Think and act with objectivity. In the end, nobody should define who you are but you. If you have a goal, nobody is standing in your way but you. Sometimes when we wear a mask, we succeed in keeping the world out. Finally shedding that mask can be a very rewarding experience. Try it some time.

====================================================

Crypto Wendy O

Wendy is a joy to be around. For WCC in Las Vegas she was one of the busiest people there, constantly taking interviews or speaking all over the place. She along with ByBit hosted the Full Moon party at the Voodoo rooftop lounge. As cold as it was, it was the perfect opportunity for folks throughout the space to enjoy the pleasure of each other’s company and exchange ideas. This exchange of ideas perfectly encapsulates Wendy’s personality. She’s all about being open to the ideas and points of view of others to make objective decisions when it comes to investment. Heavily research driven, her channel has become more and more comprehensive as it has progressed. Here at Gokhshtein, we’ve enjoyed seeing her go from having a few followers to being one of the most respected content makers in the space.
Where’s the best platform to find your content?
Crypto Wendy O - @cryptowendyo.
How long have you been active in the cryptosphere?
I heard about BTC in 2011/2012 and entered the market as an investor in 11/2017.
What brought you into the space to begin with?
I was looking for a change in my current hustle and started researching stocks and then saw BTC and it seemed easier to invest in than stocks.
Many popular figures in the space don’t like the term “influencer”. What would you call yourself instead?
I prefer the term media as that’s what I do on a daily basis. I have a YouTube channel that I report on the news and when I attend events I conduct live interviews and do a recap of the event afterward.
How has the experience of gaining so many followers affected you? Did you ever think that you’d become this popular in the community?
It’s been good, but it’s also very stressful as there are a lot of Internet anon trolls as well as disgruntled folks coming out of the woodwork. My large network I’ve built organically has helped me grow my business, but it can be challenging at times as everything I say or call TA-wise is under scrutiny.
I never thought I would grow a following that I have and I’m grateful for all the positive opportunities I’ve been given.
What would you say is your primary focus in your engagement with the crypto community?
I do a little of everything - charts, news, events for the community and of course fun posting.
What’s a common misconception about you or your brand that you’d like to dispel?
I’m a woman and I can trade.
Also, yes I do sponsored content, but all projects are vetted and compensation is disclosed in accordance with US law.
Tell us a little bit about your crypto journey. How has your content grown since you first began?
I started posting charts of my trades and hosting free events to bring the community together and so I could learn to. Since then my content as transformed into daily news and travel along with my marketing business.
What would you say has been the biggest change in the space since you started? How have the markets changed? What about public perception?
One of the biggest changes is the euphoria we saw at the height of 2017, market is different now and most people here are genuine and trying to build something great.
Most average Joes, don't know what crypto is and we have a lot of work to do.
If you could use blockchain technology to solve one problem in the world, what would it be?
Healthcare - with my background in patient care and pharmacy services I see blockchain tech acting as a superior database to assist clients globally. This also goes with insurance companies, medical practitioners and government agencies who are involved.
What types of projects or tokens are you most bullish on in the near future?
I work for MonetaryUnit and love what we are doing, making it easy for regular people to use crypto (MUE) to pay for regular goods on our online marketplace Flubit.com.
What is something that most people don’t know about you that you think would be interesting?
I boxed for 2 years while a teen. It gave me confidence and taught discipline.
What kinds of projects are you currently working on - in or out of the cryptosphere?
I’m mostly focusing on building my YouTube channel and hosting more events with conferences to get more people involved.
Who do you get inspiration from?
My daughter and stepboys - they are my world, I want to show them no matter how hard things get you keep it moving.
What’s the one thing you’d like to relay to all of your fans/followers?
Be kind - the world is filled with ugliness don't be part of it. You don't have to like everyone, but don't be a part of the hate. Life is too short.
========================================================================
Codey
Codey is a man of few words. He doesn’t tend to wax sesquipedalian. Don’t let the fact that he’s not particularly loquacious fool you, though. What he says, he means. Often the life of the party at events, Codey’s reputation precedes him. While his technical analysis has not been as much of a focus of late, his content and engagement levels are hitting a stride. Codey’s made himself a staple in the crypto community.
Where’s the best platform to find your content?
Twitter/Instagram/Tik tok @codeyisfun.
How long have you been active in the cryptosphere?
A few years.
What brought you into the space to begin with?
A few friends were mining and got me involved a while back.
Many popular figures in the space don’t like the term “influencer”. What would you call
yourself instead?
Content creator, creative.
How has the experience of gaining so many followers affected you? Did you ever
think that you’d become this popular in the community?
It’s been great, I love connecting with the community. No I did not.
What would you say is your primary focus in your engagement with the crypto
Community?
Getting people involved in crypto and growing the community.
What’s a common misconception about you or your brand that you’d like to dispel?
I am not Peter McCormack, I’m his relative and beer drinking partner.
Tell us a little bit about your crypto journey. How has your content grown since you first
began?
At first I started posting very technical content, but I’ve grown to post basics
that people can absorb and actually make them want to learn more about crypto.
What would you say has been the biggest change in the space since you started? How
have the markets changed? What about public perception?
A lot less bullshit, and people are focused on building. More mainstream media outlets are now covering crypto.
If you could use blockchain technology to solve one problem in the world, what would it
be?
Not sure.
What types of projects or tokens are you most bullish on in the near future?
Bitcoin.
What is something that most people don’t know about you that you think would be
interesting?
I meditate for 30 minutes every morning.
What kinds of projects are you currently working on - in or out of the cryptosphere?
Just working on building up a stronger crypto community.
Who do you get inspiration from?
Everyone that I come in contact with.
What’s the one thing you’d like to relay to all of your fans/followers?
Create a community you love being in.
================================================================
Girl Gone Crypto
An up-and-comer in the space is Lea Thompson, aka “Girl Gone Crypto”. Her “reporter in the field” style is polished and professional, but she has loads of fun with it. We look forward, every week, to see what she comes up with. And she doesn’t disappoint. From interviews with top names in the space to ultra clean content, Lea is her own one-woman news platform.
Where’s the best platform to find your content?

You can find me under the social handle - Girl Gone Crypto. YouTube and Twitter are the best places to find my content - but you can also find me hanging out on Instagram, Linkedin, and TikTok.
How long have you been active in the cryptosphere?

Since early-mid 2017.
What brought you into the space to begin with?

A blogging/social platform called Steemit. I stumbled across it and started earning crypto
for making content. That experience is what led me down the rabbit hole of learning about
crypto as questions of, “where does this money come from”, “why is it valuable”, and “what do I do with it?” started to spring up.

Many popular figures in the space don’t like the term “influencer”. What would you call
yourself instead?

I am one of those people that isn’t a fan of the word influencer - probably because of what that
word implies. It makes it sound like people are just sheep being influenced by those making
content - and I’d like to think of creators as people who are simply sharing information and
commentary, but that people are still doing their own research and coming to their own
conclusions. To be honest, I haven't heard another good alternative phrase that has stuck. I
usually just refer to myself as a creator.

How has the experience of gaining so many followers affected you? Did you ever think
that you’d become this popular in the community?

I look at follower counts simply as a validation that I’m doing something right that is bringing
value to others.

What would you say is your primary focus in your engagement with the crypto
community?

I aim to make content that is appealing to both nerds and normies alike. Whether someone is a
veteran in the space, or they just heard about bitcoin for the first time - I want them to find my
content approachable, entertaining, and educational. I’ll be the first one to say that I’m not the
most technical person in the room - and I use that to my advantage. I know what questions
people are asking and what intimidates them about the space, and so I make content that helps them feel like cryptocurrency is more approachable.

Tell us a little bit about your crypto journey. How has your content grown since you
first began?

It’s honestly always growing and evolving. I’m always getting ideas for stuff I want to try out. I
call it the “spaghetti method”. Sometimes you just have to throw a bunch of stuff up against the wall to see what sticks.

What would you say has been the biggest change in the space since you started? How
have the markets changed? What about public perception?

I got into crypto in early-mid 2017 and saw the huge ICO craze where everyone and their dog
thought they could just make money come out of thin air by launching a token. I’m glad to see
we’ve “matured” a bit as a community and seem to be putting more stock in projects that offer
real use cases and have a sustainable business model outside of just token sales.

My pulse on public perception is that general awareness has increased, but understanding is
still very rudimentary. It is a good sign that more people are familiar with the word bitcoin, but
we still have a long way to go before people actually know what it means.

If you could use blockchain technology to solve one problem in the world, what would it
be?

Greater access to opportunities in countries suffering from political and economic turmoil. Even in most third world countries, many people have access to smartphones - which means they have access to the Internet. That paired with being able to accept bitcoin as payment should help give them options to take their earning potential into their own hands and limit the effect of the turbulent economy around them.

What types of projects or tokens are you most bullish on in the near future?

I have a special place in my heart for decentralized social media platforms as that was how I got into crypto myself. I think we are a long way away from people completely ditching Facebook and other centralized sites - but I do think these projects are setting themselves up for success as more people become aware of the value of their own data and choose to share on platforms that respect that.

What is something that most people don’t know about you that you think would be
interesting?

I am a competitive swing dancer! When I’m not attending crypto events and meetups - there’s a
good chance you can find me on the dance floor.

What kinds of projects are you currently working on - in or out of the cryptosphere?

My main focus is on creating content for Girl Gone Crypto, but sometimes I’ll consult with
blockchain companies to help them develop their social media marketing strategy. There is a lot of sh*tty marketing in this space and many companies don’t even realize how much a simple strategy could elevate their brand - so I like working with people on that when I can.

Who do you get inspiration from?

My main inspiration in the space is Naomi Brockwell! I think she’s intelligent, well-spoken,
consistently creates high-quality content and brings an infectious, positive energy to everything she does.

What’s the one thing you’d like to relay to all of your fans/followers?

Thank you so much for all of the support and encouragement along the way. The only reason I
get to do this is because you guys have decided to hang out with me and I am incredibly
grateful.
=======================================================================
Kenn Bosak
What can we say about Kenn? Kenn is a different animal entirely. One would be forgiven for assuming that this Ginger Pajama Claus was just some crazy crypto conference gate crasher. One would be wrong… mostly. At first glance, your eyes have difficulty processing what you’re seeing. A strange pajama clad man typically speaking candidly with some CEO in a suit or partaking of copious amounts of cannabis. Like a rare firefly on a balmy summer evening, Kenn changes the scene and people are excited to see him. The real juxtaposition comes when he opens his mouth. As the kids would call it - “Woke AF”. K-Bo’s opinions on projects and the direction the industry is taking is blogger gold. With precisely zero Fs given, he has a penchant for calling out scammers. At the World Crypto Conference in Las Vegas, his interaction with a certain unnamed former DJ turned paid group leader resulted in a single clip of the incident reaping more views than the majority of other coverage of the event combined.
Where’s the best platform to find your content?
Kenn Bosak @KennethBosak on Twitter.
How long have you been active in the cryptosphere?
Since 2016.
What brought you into the space to begin with?
The barrier of entry to traditional investment opportunities, such as IPOs, forced me to look for something more welcoming, like ICOs. Specifically Ethereum’s ICO.
Many popular figures in the space don’t like the term “influencer”. What would you call yourself instead?
I don’t consider myself an influencer, because I don’t intend to influence anyone with my content. I’m just a content creator...
How has the experience of gaining so many followers affected you? Did you ever think that you’d become this popular in the community?
Since gaining so many followers, I've become more aware of the ripple effect of what I say publicly can have across social media. For example, calling out scammers…
What would you say is your primary focus in your engagement with the crypto community?
What it comes to engagement, I don’t have a primary focus. I’m all over the past. But for the most part I like to be at events and engage IRL with the community.
What’s a common misconception about you or your brand that you’d like to dispel?
The biggest common misconception about my “brand” is that, I have one. I’m not a character, playing a role. I’m just me, publicly.
Tell us a little bit about your crypto journey. How has your content grown since you first began?
Since I first began the crypto journey, my content has grown from simple and short “how to” videos on tools and products in the space, into now hosting a daily podcast with a different guest each day. I’ve learned a lot from having conversations with leaders in the industry and sharing knowledge via my podcast helps my viewers grow with me.
What would you say has been the biggest change in the space since you started? How have the markets changed? What about public perception?
The biggest change the space has seen since I got started is the mainstream perception of what bitcoin is. Thanks to the CBOE and CME Futures market for showing legacy investors bitcoin is much more than drug money used on the deep web.
If you could use blockchain technology to solve one problem in the world, what would it be?
Using blockchain technology to solve any one problem is comparable to how utilizing the Internet to resolve problems is done today. Personally I’d like to see the legally unbanked, like the cannabis industry, evolve into being their own banks using Bitcoin. They could accept BTC, HODL it, pay their employees with it and even order supplies without ever dealing with a central bank.
What types of projects or tokens are you most bullish on in the near future?
I’m very bullish on NFTs. Non Fungible Tokens are disrupting the gaming industry, by providing true asset ownership of in game content to the players, creating third party exchanges, liquidy and a potential to profit off of skins and other cosmetics earned.
What is something that most people don’t know about you that you think would be interesting?
I had my first “wet dream” in jail, when I was 18 years old.
What kinds of projects are you currently working on - in or out of the cryptosphere?
The only project I’m currently working on is my podcast via YouTube.com/KennBosak.
Who do you get inspiration from?
My inspiration comes from selfishness. I’m motivated to keep doing my podcast, so I have a platform worth the time of leaders in the space to come and speak to me on. There is always something new to learn from a guest, it’s basically free crypto collage. But, I do aspire to inspire, by showing my, if I can do it, you can do it lifestyle.
What’s the one thing you’d like to relay to all of your fans/followers?
If you see me at a conference, smoking a joint, you’re welcome to join me.
=============================================================
Crypto Finally
Finally, we have… Finally. Rachel Siegel, better known as Crypto Finally, has managed to take the crypto community by storm. While many might dismiss the occasional two second video of Rachel taking a toot from her Juul, she has managed to attract quite a lot of attention from the outside world. From her funny music videos to her antics abroad, she has managed to accomplish as much for the space in a year as any evangelist. Here at G-Mag, we’re all about inclusivity in the space. Someone that manages to make blockchain sexy and exciting, while still having pretty deep insight into the industry is definitely a welcome addition to our big crazy family. Jokes and snappy one-liners aside, Rachel has actually delivered on some speaking gigs at conferences. We always look forward to her content, especially the insightful pieces.
Where’s the best platform to find your content?
Rachel Siegel, Crypto Finally @CryptoFinally - twitter.com/CryptoFinally, YouTube.com/Cryptofinally.
How long have you been active in the cryptosphere?
I have been active within the crypto space for about two years now, Crypto Finally has been around since November 1st 2018.
What brought you into the space to begin with?
I have friends from mainstream production who were working for another crypto YouTube channel, Cryptonauts. I worked with them making educational blockchain content before launching Crypto Finally.
Many popular figures in the space don’t like the term “influencer”. What would you call yourself instead?
“Ya girl”.
How has the experience of gaining so many followers affected you? Did you ever think that you’d become this popular in the community?
It’s been a great experience getting to know the community and seeing all the different types of people it draws out, I’m happy if I’ve been able to bring a little positivity to the space and surprised by how quickly the Crypto Finally brand has grown.
What would you say is your primary focus in your engagement with the crypto community?
My primary focus is demographic expansion of the blockchain and crypto space via media portrayal and pop culture representation. I take a historical look at the portrayal of cryptocurrency over time and how it has affected distribution and market cycles. I emphasize new ways to target younger audiences, and people who have not been exposed to cryptocurrency as a means towards mass adoption. The space can’t grow if people don’t know it exists in the first place.

What’s a common misconception about you or your brand that you’d like to dispel?
I’m here to support the cryptocurrency industry, we all are. We each bring diversity and our own skill sets to the table. I am actively involved in this space and dedicated to watching it grow and more so I believe in cryptocurrency and blockchain as an emerging market. My channel may be different from channels you’ve seen in the past, but we share a common goal.
Tell us a little bit about your crypto journey. How has your content grown since you first began?
When I first launched my Crypto Finally channels I was only creating these Bitcoin music videos. Really funny, inclusive content that people in the space can enjoy, the goal being to get more people involved through fun media. I’m still making these videos, however, I’ve taken a step back into the way that this kind of media can affect the space when looked at on a larger scale. I’m now looking at pop culture anecdotes globally and how this plays its part in the mass adoption of cryptocurrency as a whole.
What would you say has been the biggest change in the space since you started? How have the markets changed? What about public perception?
I’m seeing more people learning about the crypto space every day, more media mentions are happening, I’m seeing stuff about Bitcoin on Netflix and hearing cryptocurrency jargon come up at normie bars. It’s been a really cool, slow, but cool evolution and I can’t wait to see it progress.
What types of projects or tokens are you most bullish on in the near future?
I’m most bullish on projects with good UX/UI and distribution. I’m excited to see new use cases that are really focused on bringing people into the space in a productive way.
What is something that most people don’t know about you that you think would be Interesting?
I am an OSHA certified forklift driver.
What kinds of projects are you currently working on - in or out of the cryptosphere?
I’m currently working on making new videos as well as building out a podcast. I’m interested in hearing more from the community and creating platforms for inclusive discussion about cryptocurrency and blockchain from cultural anecdotes and social perspectives.

Who do you get inspiration from?

I pull most of my inspiration from mainstream culture, underdogs and popstars alike. I could write a list but it wouldn’t be printed for sheer length.
What’s the one thing you’d like to relay to all of your fans/followers?
We’re really on the ground floor of a huge emerging market here. Don’t freak out about the volatility, look at the future. Participate in the community where you can, it is incredibly fulfilling to be around people who also play with magic internet money, I promise.

Push For Blockchain Adoption Prompted Samsung To Release A Crypto Wallet Pre-Installed Edition Of Galaxy 10

By Judith Riseshine - 

Blockchain technology has been around for quite some time now with a lot of positivity and directions, but its level of adoption is still very slow. A survey carried out by Gartner shows that the adoption level is still 1% with an expected 8% increase by CIOs in the short term. What could be holding down the remaining 99% in the level of adoption? The main reason for this delay is the misconception that blockchain is an emerging technology, so many are waiting for the full stage of development. Just as the Internet was in the 1990s, blockchain is still at its development stage, mass adoption is the vehicle that will drive it to its desired destination.

Though the adoption level has been low, blockchain still has the potential to make a positive impact on the business world. Garner forecast that blockchain can generate an annual business value of more than $3 trillion USD by 2030. Though it is the technology behind cryptocurrency, its features and functionalities have developed beyond financial instruments. The value associated with these technologies changes as blockchain provides new functionalities. According to the Garner survey, it could be estimated that this technology will support about 20% of global economic infrastructure by 2030. Some of the institutions and organizations that have caught up with this vision are pushing for adoption and getting more involved with the blockchain technology. One of the companies in the business world that have pushed further than others is Samsung.

Samsung Electronics just released a new edition of its Galaxy Note 10 smartphone, installed with a cryptocurrency wallet to support blockchain adoption. This product is a different version of Samsung's top product Galaxy Note 10 but marketed as “KlaytnPhone” produced from Samsung partnership with the Kakao-developed Klaytn public DLT. It does not differ from the Galaxy Note 10, but comes with blockchain apps and a cryptocurrency vault. Owners of this smartphone will also own wallets pre-loaded with crypto tokens or an amount of Klay token.

The KlaytnPhone began sales on September 5 in South Korea which is the headquarters of Samsung. The blockchain apps of the Klaytn network can be accessible by non-Samsung phone users via Google’s Android system. But only the Klaytn edition will enable full transaction on the Klaytn network which has been live since the middle of the year. Its token started trading on exchanges like Upbit’s platform in Singapore and Indonesia.

This is not the first step the telecom heavyweight has taken to promote blockchain adoption, it had earlier improved the crypto functionality of it’s Galaxy S10’s by adding digital wallets that support assets like BTC and 32 other tokens, these include some stablecoins like USD Coin (USDC), Maker (MKR), TrueUSD (TUSD) and BNB. Before this addition, the Galaxy S10 was able to support only Ether and ERC-20 tokens on Ethereum.

If other nations, institutions, and organizations of the world would follow suit, it is possible that blockchain could reach its full adoption potential.

How Can The Blockchain Rate Of Adoption Increase?

So many nations of the world have applied the same approach to blockchain and cryptocurrency since it is the technology behind the digital assets. They see cryptocurrency as a scam, this thought hinders them from seeing the full benefits that could be derived in full adoption of the blockchain technology. Its functions go beyond supporting cryptocurrency, this is proven in the design of the Ethereum blockchain protocol which offers better functionality than the Bitcoin blockchain.

However, to utilize the fullness of these functionalities, the following challenges need to be addressed.

Regulation Issues

Regulation is important in establishing blockchain technology because it helps to build trust. Some unhealthy activities are going on in the blockchain industry, which makes it difficult for people to trust blockchain startups, an example of such is the fraudulent ICO companies. Regulation will bring more adoption if the blockchain industry has a harmonized standard that will enable easy accessibility. Though blockchain technology operates on the principle which supports freedom and autonomy, regulation will promote more awareness and development of the structure in major nations of the world.

Many nations are hitting hard on cryptocurrency with bans and strict rules, this affects the development of blockchain-based projects. China, France, India, and the UK are among the nations that have introduced strict crypto regulations, while the US has achieved more progress with about 17 states passing bills related to blockchain adoption. According to the study by Finder, the number of Americans who owned cryptocurrency doubled this year. The report shows that 36.5 million Americans own crypto representing 14.4%, compared to 7.95% in 2018.

Too Much Emphasis On How Blockchain Works

There is too much visibility of the functions of blockchain technology that is generating confusion for the consumers. People don’t need to understand how blockchain works before they can use it, just like the computer. Internet users do not need to understand how it works to use it, so it is for blockchain users, the more silent the changes they have to make, the more they will adopt the technology. Consumers do not need to know what powers blockchain to use it, instead, their focus should be more on what they can achieve with it, and this approach will boost growth in adopting blockchain technology.

The great functionality of blockchain technology has attracted the nations of the world, the government, and organizations that are continuously competing for technological advancement. Different nations and their governments are either studying various blockchain-based applications, or testing such applications for use in improving state affairs.

Scalability and Ease Of Use

Currently, blockchain transaction speeds are noted to be slow. The Ethereum blockchain can only handle 15 transactions per second, while Bitcoin can handle just 7 transactions per second. The process of consummating these transactions involves some complicated steps before completion. The processes are very complicated for average users compared to the other alternative cross-border payment platforms. It is important to implement easy-to-use decentralized applications that use blockchain and enable a better user interface.

Developers and programmers interested in the creation of blockchain-based applications are barred from entry. The easy web application will increase performance and allow people to easily use and develop blockchain applications.

If all these bottlenecks could be addressed, adoption of blockchain technology will become a frictionless experience both for private organizations and public institutions. Blockchain is making a great impact on financial industries and other key sectors such as healthcare, FCMG, supply chains, the fashion industry, media, and more, but the telecom industry seems to be at the forefront of adoption.

Samsung Electronics’ move for adoption with its flagship product will make a great impact because the reach will go beyond Samsung to the wider Google ecosystem. Samsung has a large global retail network, and this single move can generate a tremendous result. Based on the level of competition, it is expected that some other large organizations will follow suit.

Blockchain offers cost reduction, accuracy, and traceability for business processes. According to PwC’s survey in 2018, in a sample of 600 executives from 15 nations, 84% affirmed their organizations are involved in blockchain technology. If these push for adoption like Samsung, there will be a considerable increase in the percentage of adoption.

Is Bitcoin’s Stock-To-Flow Ratio the Key to Future Value?

By James Hunt - 

The stock-to-flow (SF) ratio has historically applied to commodity markets. It is a measure of the quantity of that commodity currently held (the stock), divided by the amount of it produced each year (the flow), as a means to effectively measure the scarcity of something. The commodity with the highest SF ratio is gold. In contrast to industrial assets that use up existing inventories quickly, gold inventories remain large compared to the relatively small increase in new supply each year.

So why is this relevant to bitcoin?

The relative price stability that comes with a large inventory provides gold with a monetary element that is not apparent in lower SF ratio assets. As a result, the store of value aspect of gold outstrips its industrial demand. Most other commodities have a ratio of near or less than 1 (their stock is similar to or less than the yearly production). None are anywhere near that of gold.

Bitcoin is another example of an asset that has a high SF ratio, albeit in a different form. Bitcoin is the first scarce digital asset we have ever seen. The SF ratio of bitcoin is increasing over time as the block rewards reduce every halving cycle (210,000 blocks). This reduction in new supply inflation continues until the mining rewards end, which is estimated to be by 2140, at which point the supply becomes fixed. Satoshi defined bitcoin’s issuance from the beginning, so we can easily plot its SF ratio over time.

[image1]
source: @100trillionUSD

Measuring scarcity

To paint a picture of the pace of this change, the current SF ratio for bitcoin is approximately 27. This figure derives from blockchain data showing total bitcoins currently in circulation of 17.93m / current new annual supply of 657,000. It has already exceeded that of silver and nearly trebled since 2014. The next halving is expected by April or May of 2020, after which we’ll have mined 84% of all bitcoins, and its ratio will be closer to 56. Gold stands at around 62 (185k tons / 3k tons per year), so bitcoin is almost guaranteed to surpass the SF ratio of gold within the next 4-year cycle, and beyond the projected 2024 halving will be double that of gold. At that point, it would become the first asset to have a stock-to-flow ratio of over 100, arguably forming the best monetary store of value in history. From there, we launch into uncharted waters in terms of scarcity.

[image2]
source: @100trillionUSD

What does this mean for market value?

By overlaying the price action of bitcoin to date, we can see a correlation as it oscillates around the SF ratio, producing a model to measure the value of bitcoin over time. Work by analysts such as Plan₿ shows that the current price of bitcoin is near the value predicted by the model and indicates the potential of at least $55,000 after the 2020 halving (a market value of $1 trillion). If you follow the model over time, and this is where it becomes mind-boggling, it predicts a potential price of at least $400k after the projected 2024 halving and $3m after 2028. Therefore, somewhere between 2024 and 2028, bitcoin’s market value could exceed that of the US dollar, and the relevance of USD as a unit of account also gets called into question.

In statistical terms, while many factors influence price, the R2 (the coefficient of determination that measures how well the model replicates observed outcomes) is around 95%. The likelihood of the relationship between SF and value just happening by chance; therefore, is near-zero. All the other influencing factors only make up the remaining 5% - suggesting that they have a more significant impact on time than the cyclical model price. While previous price highs have deviated by multiples from the corresponding model value, they always oscillate back and continue the correlation (reverting to the mean that is the SF value).

[image3]
source: @100trillionUSD

As such models become increasingly understood, the question is to what extent the SF increase, brought about by halving events, become front-run in anticipation of the impact of the restriction of new supply. The last two halvings have seen price highs lagging those events. Increased understanding and expectations could, therefore, speed this cycle up, to the extent that the next peak could potentially even come in before the halving. Some would also argue that increased belief in this model could cause front-running of future halvings too, not just the next one. Added to that is by how much the model price is overshot. The last three price peaks have exceeded the model by 13, 10, and 3 times the model value, respectively. If this trend continued, we could expect the next price peak to overshoot to around at least $61k, though past performance is no guarantee of future results and it could perform better or worse than these levels. The evidence so far suggests that the extent to which price peaks overshoot this model declines over time, something which would correlate with general market maturity and liquidity.

Realistic expectations

No model is perfect, and anything can happen. The SF ratio for bitcoin shows continued goodness of fit, however. The fact that the unrelated gold and silver markets are so in line with the bitcoin model values for SF provides further evidence of its validity. The model has, thus far, proved a statistically significant relationship between SF and market value. Its correlation has a near-zero probability of occurring purely by chance, and there is an indication of a power-law relationship (every halving, the SF doubles, and market value increases 10x).

The ultimate test will come after the next halving. If we don’t see the projected level of $55,000 by at least the end of 2021, the model will likely break down. If we do, it will only fuel further confidence in the model for the years that follow.

It should be noted that the figures discussed in this article are from the initial model by @100trillionUSD. It is the most conservative model, with rounded parameters based on data up to the end of 2018. Since then, the parameters have been refined, nearly a year of data has been added, and data archeology from the earliest years improved. This leads to $60,000 - $90,000 levels, rather than the initial $55,000. There is also a third model, however, that is only based on pre-November 2012 data, before the first halving. This model successfully predicted the approximate 10x jump following the 2012 and 2016 halvings, therefore performing really well out of the sample. This third model would predict a $100,000 level beyond the next halving, and by the end of 2021 for the model to remain valid.

[image4]
source: @digitalikNet / @100trillionUSD

For all the noise, theories and analysis surrounding bitcoin, ultimately, it’s about supply and demand. As its scarcity increases with continued restriction of new supply, even stable demand would lead to an increase in price. Unless proven otherwise, the stock-to-flow ratio represents one of the best methods by which we can model this balance to date.

Disclaimer: Investing or trading in bitcoin involves significant risk. It is important to research and carefully assess any such investments. All the information presented in this article does not constitute financial advice or recommendations of any kind.

Bitcoin MoE v Bitcoin SoV: The Truth About Bitcoin’s Status

By Gabriel Negrín - 

An eternal debate has existed since the early days of the crypto community – everyone knows what bitcoin is, but many discuss the nature of bitcoin as a type of money. As there are bears who are always fighting to bring bitcoin’s price down, there are bulls who would do anything to keep bitcoin’s price up and up; similar to this bears v bulls war, there is a war in which some affirm bitcoin is a medium of exchange – meaning it basically works as a way to pay for things, like normal money – and others support the idea that bitcoin is digital gold – that means bitcoin would be store of value kind of money, used to save money or the value of our work throughout time.
Truth is that in order to decide which one bitcoin truly is, we first need to have both terms correctly defined to make up our minds – after describing both terms, we can take a side on this eternal debate.
Gresham’s law states that bad money drives out good money. That settles money in two different categories: good money, that work as some sort of financial tool that serves as a reward to the many many hours we dedicate to our jobs – that means the money we invest, our life savings, the money that we’ve put aside in order to buy something big like a car or a house in the future, our emergency funds, our rainy day funds, our retirement funds. On the other hand, we have the bad money, the one we spend in our everyday lives, the one we use to buy a cup of coffee, the one we use when we go for dinner with friends, the one we use to buy a ticket for a concert of our favorite artist.
Having this in mind, is bitcoin good money or is it bad money?

Medium of Exchange (MoE): Our Everyday Life Money
As its name states, Medium of Exchange, best known for its acronym MoE, is a type of money we exchange for goods or services – that is, the money we use to pay every little thing we can imagine, from a candy to a day in the most expensive hotel in the city. Even if it started as some sort of evil entity, it truly is not: it is something we need. Do you need to buy something? You need to pay for it. That is the utility of money that works as a medium of exchange – and that includes the money you have in your wallet right now.
As a matter of fact, every single currency in the world are medium of exchange and each of them has its own custom usage depending on where you are – as an American, you might find having Argentinian pesos useless; on the other hand, as an Argentinian, you might need pesos to pay your bills and buy your clothes. This does not mean a person cannot take profit off a currency he or she does not use in his or her country: many traders take profit from the market fluctuations between a set of currencies, even if none of the two currencies are the main currency in their country.
As some countries have a better economy than others, what for some is just beer money, for others serves as a way to preserve their salaries – that is the case of many countries with a complex economic situation, which is why they tend to find currencies like American dollars or British pounds as some sort of safe haven.
In simpler words, money as a medium of exchange is not inherently bad and as its name indicates, it is money we use as intermediary instrument for services and goods. Finally, medium of exchange money must be accepted by everyone in order to be considered a medium of exchange.

Store of Value (SoV): The Bright Side Of The Coin
Similar to the concept of a security vault, on the complete opposite side of the room, sits the concept of Store of Value. Store of Value, also known by its acronym SoV, would accomplish the function of good money in the Gresham’s law equation – this is money people do not want to spend. Store of value types of money are important because they are a limited amount of assets and goods, making them finite, thus valuable.
Imagine having the most precious metal in the world. Only you have it. Nobody else has something like that – not even similar. You have plenty of people offering quantities of money you had never imagined. Why would this happen? Simply put: something so valuable would maintain its value, and most probably someone else in the future would offer you more money for it.
That exactly is the importance of a store of value. As redundant as its name indicates, store of value keeps its worth throughout time – unlike fiat money which can lose its value.

Bitcoin’s Status: MoE or SoV
Having these two definitions in mind, the debate about bitcoin’s nature is just a matter of taking a side you would defend. The ones who believe that bitcoin works as a medium of exchange refer to bitcoin’s early days and its whitepaper written by the famous yet unknown Satoshi Nakamoto: “Bitcoin: A Peer-to-Peer Electronic Cash System”. Logically, if its creator saw it as a peer-to-peer payment solution thus a medium of exchange, why would we see it in other ways? Simply put, because bitcoin is too valuable and scarce.
Truth is there is a reason why many compare bitcoin to gold, getting to a point in which bitcoin has been nicknamed “digital gold”. Having a finite amount of bitcoin makes every single fraction of it scarce, valuable and important. The story of the 10,000 bitcoins pizza is in everyone’s mind: “why would I pay for something in bitcoin when there is a chance of bitcoin getting ever more valuable than today?”.
When seeing both sides of the discussion, one can learn something that not only applies to bitcoin’s state as a type of money, but also to life itself: there can be two different truths in each side of the spectrum and one truth does not invalidate the other. That is, bitcoin is much more than just a kind of money and it is not necessary for you to take a side on the MoE v SoV discussion. This is not a black-or-white discussion: bitcoin can be both. Finally said, one of bitcoin’s biggest advantages is that it grants liberty – that also implies the liberty to choose which side you are on.