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The Types Of Cryptocurrency Fanatics And Who Is On Top Of The Crypto Chain



The Types Of Cryptocurrency Fanatics And Who Is On Top Of The Crypto Chain

In the year 2009 when cryptocurrency (Bitcoin) was created by a developer called Satoshi Nakamoto, which was the first and most important cryptocurrency till know. They were designed as a reward for a process known as mining, which can know to be used for the exchange of goods and services online only. By then bitcoin was worth 1.00 USD from February to April in 2011.

As time has gone by, people become more interested in cryptocurrency as it gains popularity by cryptocurrency fans. The question here is which crypto fanatic do you belong to? Some cryptocurrency fans are just studying the cryptosystem, others are buying and selling, some are patiently waiting to be induced by crypto geeks while others are just supporting the cryptocurrency ecosystem.

Even though cryptocurrency fans are talking about the strength and weakness of crypto, others have the intention that cryptocurrency is for certain individual (young energetic males).

Since the design of cryptocurrency, it has yield alongside with global phenomena. Cryptocurrency is now all over the world especially in the world of technology.

The reasons why crypto fanatics are so much into cryptocurrency and the sudden return is quite varied from crypto nerds. Moreover, these group on individuals known as crypto fanatics can be classified into categories. But which one of them is on top of the chain?

The illegal buyers of goods and services: they are the group of individuals that buy and sell illegal goods using cryptocurrency on the black market using special browsers. Even though it is not promoted anymore but it does exist.

The cryptocurrency anarchist: these are people or group of persons that try to bring anarchy into cryptocurrency industry in relation to real money, they try to bring misunderstanding among cryptocurrency fans since it does not involve any central government activities.

Tech enthusiasts: these are a group of individuals that are into cryptocurrency technological project. It involves programmers and also protected by programmers, most of them are into cryptocurrency because of the tech behind it which is very remarkable and interesting.

At first, people were afraid to do transactions with real money but since the introduction of tech programmer, they come up with technology where transactions can be done online without the influence of a third party or the involvement of the central government. This is so, because of tech enthusiast or cryptocurrency programmers.

The get rich fans: these are individuals that are always on a lookout for the rise in cryptocurrency. These fans are also known as the maximin-pessimistic, they use an approach known as the Principle of Insufficient Reasoning, that is they have no information about the likelihood of the various states of nature in relation to cryptocurrency.

Due to this, it has attracted individuals especially those who want to be rich quickly. They don’t rely on the rise and fall in the value of cryptocurrencies but rather focus on which crypto is on top of the blockchain industry

The cryptocurrency investors: popularly known as risk takers; Most investors invest in gold for protecting one’s funds from market uncertainty, that’s the rise and fall of goods and services in the blockchain market. In real life, gold remains steady and keeps its value for a long time. Now that cryptocurrency is in the system which has dethroned gold, cryptocurrency investors are now investing in this digital asset called cryptocurrency which they believe to be safe compared to physical money or gold.

What they do is, they construct a payoff table and select a decision-making criterion on which cryptocurrency to invest on and apply it to the payoff table. They then identify the optimal decision and evaluate their solution. The return on each investment depends on the (uncertain) market behavior during the month within the year and then they invest. it is clearly seen that tech enthusiasts and crypto investors are ruling the crypto industry, which brings them to the top. Well for me, am partly a crypto enthusiast, investor and the get rich fan. So, which one do you belong to?


Cardano’s Charles Hoskinson wants to work with Elon Musk to develop a decentralized social media platform



Cardano's Charles Hoskinson wants to work with Elon Musk to develop a Decentralized social media platform

The Founder of Cardano (ADA) has invited Tesla owner and billionaire, Elon Musk, to work with him in developing the first decentralized social media platform. Charles Hoskinson, who also doubles up as the CEO of Input-Output Global is offering to help Elon Musk achieve his goal of free speech on social media.

The news follows Elon Musk’s acquisition of a stake in Twitter last week. The Billionaire bought 9.2% of Twitter, estimated at $2.89 Billion, and was even offered a seat on the micro-blogging site’s board. However, after deliberations, Elon passed on the offer since it would bar him from owning beyond a certain threshold of Twitter’s shares.

Free speech advocate

Elon Musk is on record for being a passionate supporter of free speech and open internet policies. He has in the past openly accused Twitter of muzzling free speech and open internet use. He recently held a poll that indicated that most users would prefer an edit button on Twitter and said that if he is not allowed to acquire the platform, he would have to reconsider his position as a major shareholder of Twitter.

To actualize this cause, he has offered to acquire the platform for a reported fee of $43 Billion in cash. This intended acquisition has left his critics and supporters talking and would go a long way in helping him bring much-needed changes to Twitter. His intention has however come under fire with his critics, including Dogecoin co-founder, Jackson Palmer saying that Elon Musk is planning a hostile takeover of Twitter. 

Hoskinson’s offer to Elon Musk

Upon seeing the opposition against Elon Musk’s plan, Hoskinson wooed Elon to join him in creating a decentralized social media platform. He tweeted:

“@Elon if Twitter rejects your offer, then hit me up. Happy to build a decentralized one.”

This offer follows Elon Musk’s Twitter poll where he sought the opinion of his 80 million followers about a decentralized social media platform. He posited that were he to be barred from acquiring Twitter, he would establish his decentralized platform that would be founded on free speech and open internet.

Elon Musk’s campaign for free speech and open internet has not been welcomed by all. Some of his critics have argued that coating his move with good intentions, his true intention is to get revenge against the SEC for muzzling his Twitter activities.

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Thailand Outlaws The Use Of Crypto For Payments



Thailand Outlaws The Use Of Crypto For Payments
  • The SEC in Thailand has banned crypto payments in the country.
  • Its new decision is expected to become enforceable in April.
  • The SEC reiterated that the government still maintained support for the blockchain industry, clarifying that the decision does not affect crypto investments.

The Securities Exchange Commission today has placed restrictions on crypto as a means of payment. They believe that it poses risks to the nation’s financial stability.

Crypto Payments Outlawed

Thailand’s SEC today has outlawed the use of crypto as a medium of exchange in the country. The regulators came up with this decision after discussing the benefits and inherent risks from crypto and blockchain technology with the country’s central bank, the Bank of Thailand (BOT).

They concluded that the use of cryptocurrencies for payment was potentially harmful to the country’s financial stability and economy. Price volatility, risks of theft, and potential use cases in money laundering were amongst the reasons cited by the SEC that led them to this decision.

The SEC report read, “the use of digital assets as a medium for payment of goods and services Because it may affect the stability of the financial system and the overall economy. including risks to people and businesses such as the risk of loss of value caused by price volatility Risk of Cyber ​​Theft Risk of personal data leakage or being used as a tool of money laundering.”

As per the SEC’s new decision, crypto service providers and vendors or merchants in the country are encouraged to stop providing or facilitating such services. Suppose a crypto service provider discovers that a customer has used its services to make payments. In that case, the service providers are to inform the SEC and restrict activities on the said account.

The SEC’s new ruling is to take effect from the 1st of April. However, businesses that already offer such services would be given till the end of April to cease such operations. The crypto market in Thailand has grown massively over the last couple of years. As per a Bloomberg report, government data estimates that Thai citizens hold about $3.4 billion in crypto assets.

Crypto Investments Not Affected As The Thai Government Still Supports Blockchain Technology Innovation

The SEC in their release, clarified that the restriction was only on using cryptocurrency as a means of payment and in no way affected citizens investing in crypto. It was stated that “digital asset traders/investors can carry out normal investment/trading related transactions.”

The SEC also maintained that the government still supported blockchain technology and was working to provide a regulatory environment where innovation can be encouraged in the industry. Recall that earlier this month, the country had offered tax incentives to investors and businesses in the crypto industry.

“… the BOT and the SEC, as well as other government agencies, see the benefits of various technologies behind digital assets such as  blockchain and emphasize and support the use of technology to further innovation.”

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