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Cryptocurrency: To Be or Not To Be

cryptocurrency: to be or not to be

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By: Kaushalya VenkataramanWarren Buffet famously said that crypto-currency is a mirage and that it would come to a bad ending. While there are many detractors of crypto-currency like Warren Buffet, there are many such as Elon Musk and Peter Thiel (co-founder of PayPal) who believe that it could change the world. In very simple terms, a cryptocurrency is a digital representation of value that can be stored and transferred digitally. For many of the crypto-currencies, there may or may not be an underlying asset from which it derives value, for example, Bitcoin does not have an underlying asset and its value is derived from its scarcity, for some other crypto-currencies, the underlying asset may be a commodity (such as gold or oil). 
Cryptocurrency represents an alternative to fiat currency and its value proposition is that it is (arguably) not tied to the same parameters with which the value of a fiat currency is determined by, for example, the value of bitcoin is tied to the demand and supply for it, cost of production and the cost of verifying transactions through the underlying technology, all of which are unrelated to the economy. This is particularly relevant currently because many governments are …

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Cryptocurrency-Focused Docuseries Airs to Millions of Viewers via the Discovery Science Channel | Bitcoin News

cryptocurrency-focused docuseries airs to millions of viewers via the discovery science channel | bitcoin news

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A new docuseries called “Open Source Money” recently aired on July 4 and premiered on the Discovery Science channel. The new show gave millions of Discovery viewers information concerning bitcoin, cryptocurrencies, initial coin offerings, and blockchain technology. The cryptocurrency-focused show airing on Discovery will continue this summer with a number of episodes broadcasting once a week.“Open Source Money” is the name of a new docuseries that aired on Saturday and premiered on the Discovery Science channel and the on-demand television provider Philo. The new series gives viewers insight into the cryptocurrency ecosystem by talking with a number of digital currency experts and luminaries like Brock Pierce and Charles Hoskinson.The focus of the story is mainly about the Dragonchain (DRGN) initial coin offering (ICO) and how the project’s creators had to deal with the United States Securities and Exchange Commission (SEC). Dragonchain was also initially developed in 2014 at the Walt Disney Company branch in Seattle, but since 2016, the project and Disney severed relationships. The series “Open Source Money” was produced by the firm Vision Tree and the company raised $1 million via a variety of cryptocurrencies for filming.The episodes feature Dragonchain’s issues with the SEC when the U. …

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Over 2,500 Austrian Merchants Can Now Accept Cryptocurrency Payments | Finance Bitcoin News

over 2,500 austrian merchants can now accept cryptocurrency payments | finance bitcoin news

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More than 2,500 merchants in Austria can accept three types of cryptocurrencies via the payment processor Salamantex. The company explained that the system was tested with a number of select A1 5Gi network shops.Since the Covid-19 outbreak, contactless payments have been trending more so than they ever were before. There are a number of traditional services that remove cash from the equation, but cryptocurrencies also provide the same ends except the means are decentralized.This week the Austrian payment processor Salamantex announced that 2,500 merchants in the country will be able to support three different crypto assets via the system. The three supported assets include ethereum (ETH) dash (DASH) and bitcoin (BTC).“Owners of [cryptocurrencies like] bitcoin and dash can be excited. From this summer on, they can spend their coins at more than 2,500 merchants using [the] A1 Payment service – provided the merchant has activated the feature,” Salamantex wrote.The Salamantex team also mentioned how Austrians really like cash, but Covid-19 has changed that trend a great deal. Before the coronavirus outbreak, Austrians were extremely proud of cash and this was reflected in a large poll during the parliamentary election in late September 2019. One young Austrian woman interviewed during the poll …

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InfluenceMojo – the #1 influencer network in India all set to transform the influencer marketing industry – TechStory

influencemojo – the #1 influencer network in india all set to transform the influencer marketing industry – techstory

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Takeaway: Saumya, Marketing Head at InfluenceMojo, goes in-depth into working of the influencer marketing industry in India and talks about InfluenceMojo, the leading influencer marketing platform in India.

As a brand in today’s digital age, it has become mandatory to have an online presence. Since the past few years, various brands have adopted influencer marketing tactics to promote their products and services via platforms like Instagram, Facebook, or YouTube.The global influencer marketing is poised to be a $20 billion industry, with India contributing a major chunk of $75-150 million.

InfluenceMojo is amongst the leading influencer marketing platforms in India that aims at connecting the right brands with the right influencers, helping make campaigns a massive success for both. Saumya Uniyal, Marketing Head at InfluenceMojo, talked to us more about the topic in a one-on-one interview.

On Influencer Marketing in India

While talking to us about the state of Influencer Marketing in India, Saumya said, “Influencer marketing is an established industry in Tier 1 countries like the US & the UK. India witnessed a sudden boom in the rise of influencers and content creators on platforms like YouTube & Instagram in the past few years. However, many still fail to acknowledge the potential …

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Millions of Britons now hold cryptocurrency like bitcoin

millions of britons now hold cryptocurrency like bitcoin

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Not so long ago, sandwiched somewhere in between the EU referendum and the coronavirus pandemic, bitcoin and cryptocurrencies briefly became the hottest global topic.With prices soaring, many blindly took a punt, worried they would miss out on a chance for a quick and large profit – the only way was up and all that Yazz. You heard overheard conversations about buying bitcoin, ripple, ethereum and more everywhere. It seemed everyone was piling in, young and old, with the hopes of turning hundreds or thousands of pounds into something more substantial.Many subsequently had their fingers burnt – bitcoin prices fell from a peak of nearly $20,000 in December 2017 to $3,000 a year later, others saw their currency vanish, exchanges disappear, or were scammed. Bitcoin boom? The FCA has provided a snapshot of crypto BritainA lucky few, likely to have been involved when the price was low and the industry unknown, may have turned a handsome profit.Fast forward to today and while cryptocurrencies remain niche, there is still plenty of interest around bitcoin and the like, with ways to buy it far easier than a few years ago.And for those who managed to buy in at $3,000 a coin in that dip a …

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Billionaire Bitcoin (BTC) Bull Peter Thiel and Coinbase Are Backing This Little-Known Cryptocurrency

billionaire bitcoin (btc) bull peter thiel and coinbase are backing this little-known cryptocurrency

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Crypto investment heavyweights are backing Reserve, a stablecoin project designed to create a new universal store of value while generating potential profits for investors.
Coinbase Ventures is backing the project, and Reserve executives have now confirmed that Bitcoin (BTC) bull Peter Thiel and Y Combinator president Sam Altman have each purchased a claim to receive tokens in the future.
The stablecoin will be backed by up to 100 on-chain and off-chain assets and utilize a dual token system, as described by crypto researcher Lark Davis.
“Why would a stablecoin go up in value? There’s actually a two-token model. The first is RSR. That is the token I own and the one you will want to buy if you want to invest in Reserve. This token is the governance token, allowing holders to vote on proposals, and it gives rights to arbitrage within the network.
RSR guarantees the collateralization rate of RSV, which is the stablecoin, and it maintains the value of RSV. So when the price of the RSV stablecoin goes above a dollar, then the protocol will sell new or excess RSV for either RSR or tokenized assets to then correct the price. RSR has an automated token …

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UNICEF turning to cryptocurrency in fight against Covid-19

unicef turning to cryptocurrency in fight against covid-19

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Global children’s charity UNICEF is looking to greatly expand its use of cryptocurrency as it aims to respond to the demands of donors and better support companies around the world in their fight against the effects of Covid-19.

UNICEF announced last month that it is to invest 125 ether (worth around $28,500) in eight companies from seven different countries as part of its cryptocurrency fund (CryptoFund) aimed at addressing global challenges.This could be followed in the months ahead by a similar fund which using bitcoin, according to UNICEF blockchain lead, Christina Lamazzo.“To date, we haven’t had any large bitcoin donors, but we’re very much looking forward to bringing a large donor onboard,” she tells Finextra Research.In addition, UNICEF is looking to build a “consumable block explorer”, which would allow the general public to follow the trail of funds, as well as a set of internal tools to track balances and valuations across different crypto exchanges.“This would help us work with cryptocurrency better as an organisation and further enable the crypto funds to support the companies that we’re working with,” Lamazzo adds.Benefits of cryptoThe eight recipients of CryptoFund have already been provided $100,000 in fiat …

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Why Is Influencer Marketing Such A Big Deal Right Now?

why is influencer marketing such a big deal right now?

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Our digital-first world has fueled the power of influencers across all areas of interest, from politics to products, from makeup to marketing — and today, “influencer marketing” is having a dramatic impact on the modern marketers’ strategy. According to a SmallBizGenius infographic, there’s been a 1,500% increase in Google searches for the phrase over the past three years, and 93% of marketers use it. Business Insider reports that the market for influencer marketing is set to reach $15 billion by 2022. Why? Because it works. Nielsen’s Consumer Trust Index reports that 92% of consumers trust influencer marketing over traditional advertising. Not only that, influencer marketing content delivers 11X better ROI than other more traditional marketing tactics.
Influencers Are Real, Ads Are Contrived
As I noted in a previous article, younger audiences in particular are skeptical of traditional, one-way communication strategies and celebrity endorsements. But the reason influencers are so important right now is not only due to a growing lack of trust in advertising; consumers are hungry for authenticity. Research shows about 30% of all internet users use ad blockers to remove distracting display ads as they access online apps and services. And a GlobalWebIndex survey revealed, 47% of consumers use them because ads are “irrelevant …

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Data Startup Wants to Rank Every Cryptocurrency Product From Media to Wallets

data startup wants to rank every cryptocurrency product from media to wallets

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Cryptocurrency data startup Nomics, in partnership with Nexo, is introducing algorithmic rankings of crypto wallets, lenders, custodians, tax services and over-the-counter desks. The plan is to eventually extend these rankings to every crypto product category, including media outlets.According to Nomics CEO Clay Collins, the same algorithm is applied to all categories without any manual intervention, which should make the rankings more objective. Each entity receives a reputation score based on social media activity and site links. The exact recipe is not disclosed in order to prevent manipulation.Unexpected resultsThis blind algorithm, at times, produces interesting results. Nexo tops Cryptocurrency Credit Lines rankings, while its arch-rival Celsius Network lands occupies 25th place. Collins assured Cointelegraph that this is not due to any manipulation and can probably be explained by the fact that Celsius Network only offers a mobile wallet, leaving its website as a basic landing page. In a recent Cointelegraph interview, Celsius CEO Alex Mashinsky said that this is a conscientious choice as it allows the company to reduce a potential cyber attack vector.Collins said that Nomics will be releasing rankings for two additional product categories every week. He would like Nomics rankings to become the “U.S. …

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Bitcoin As A Payment System — Crypto Cards And The Rocky Road They Travel

bitcoin as a payment system — crypto cards and the rocky road they travel

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(Photo Illustration by Igor Golovniov/SOPA Images/LightRocket via Getty Images)

SOPA Images/LightRocket via Getty Images

The financial space was rocked by the news that German fintech group Wirecard filed for insolvency owing €3.5bn. Not only a financial failure but also a seemingly “elaborate and sophisticated fraud,” according to EY, the company’s auditor for more than a decade.  
Many companies using Wirecard’s service would have been struck by the news, and would have had to hit the panic buttons, including a few crypto companies using Wirecard for their own card payment systems. 
Already a difficult operation to get right, crypto payment, and crypto payment cards are only starting to make their way into the mainstream but it is instances like this that really hinder their potential and growth. Bitcoin has had a few changes in designation over the years, and as it stands, making it a payment system is harder than it once was.

The major cryptocurrency has undergone a number of evolutions in its some 11 years of existence. The digital currency began life as a medium for exchange in transactions, and found its first use when 10,000 BTC was traded for two pizzas (those pizza’s are …

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