Uptrennd is a Reddit variant that pays publishers each time
they get an upvote (and yes it costs them money each time they get a
It is a centralised platform that uses an ERC20 token called
1UP tokens create their value through utility (users wanting
to increase their level) and a buy back scheme (where 80% of ad revenue is used
to create buy orders on exchanges).
As a new user to the platform (level 1) I wondered how much exposure I could get for a recent YouTube video I had made and was surprised to find out that I got 117 views in just 3 days from the platform.
Overall I found Uptrennd to be a positive experience that
could benefit all types of influencers!
If you don’t want to manage large fluctuations then consider tokenized assets.
Pretty much anything you can find in the real world
can be tokenized. Real Estate, IOT devices (these are things like Lime
Scooters), traditional stocks and shares.
Because these tokens have a return on investment, they should have far greater stability, with the exception of tokenised assets that own other crypto assets such as shared investment funds and tokens in crypto exchanges. When the interest goes out of the market their ROI will decline along with the value.
Tokenized assets can be very similar to equities where you may also get voting rights. Users can be sent special voting tokens that have no value other than for voting. Another method would be to use a snapshot and get users to sign a message to prove their ownership of an account address, this method is less anonymous than the first method.
Other tokenized assets will not come with any rights
other than some claim to revenue.
When the crypto boom happened in 2017 many tokenized
asset ventures were doing their ITO’s (initial token offerings). These ventures
then withdraw their capital to buy assets in the real world and after the
market busted many of these ventures have ended up in the unusual situation of
having a lot more capital than their market cap. The market cap is the value of
all the tokens.
Something that adds to this situation of undervalued assets is financial reporting. Unlike stocks, annual reports are not a requirement, leaving investors unsure where to find information that is current. Here is a hint, go on their communication platform, such as discord, telegram, or slack and ask other users where you might get financial information from.
While speaking of tokenized assets, there are also tokenized metals such as gold and silver backed tokens. Now to me these sound much like e-gold. E-gold was a digital currency backed by gold that started back in 1996 and ironically shut down the same year that Bitcoin started (2009). E-gold was shut down because they were not able to meet US regulation requirements. Tokenized metals are not decentralized because a 3rd party holds the metal in storage which could put them much in the same situation E-gold found themselves in.
Another method of dealing with fluctuations is by
converting your cryptocurrency to something like tether. Tether fixes the
amount you have to the US Dollar. The problem with this is there is currently
no way to earn interest with your tether and because it’s fixed to the USD its
value depreciates over time because of inflation.
Tether is good if you are going to offer an exchange
service to your customers. By using tether you can quote a current market rate
plus a small margin for yourself and then make the exchange in real time.
Being a crypto seller by using an instrument like
tether will guarantee that you profit on each sale and you will have a
profitable business. There is also an endless supply of customers for you on
localbitcoins.com where you can register as a seller.
The final instrument I would like to talk about is called a smart coin like BitUSD this is a smart coin that is backed by 200% collateral in Bitshares (BTS). BitUSD can be settled, meaning that they are converted back to BTS reducing their supply and stabilizing their price. There are some arguments why these tokens should always be cheaper than the actual USD, while other arguments state they should always be more expensive than the USD. I won’t go into it here because there are entire videos already on this subject. What I will tell you is BitUSD has been around for 5 years and during that time the price has ranged from approximately $0.72 to $1.60. Which compared to other cryptocurrencies is pretty stable. Today BitUSD sits at $1.18
Which brings us to the ultimate question, do you
really want a stable coin?
Bitcoin’s price 5 years ago fluctuated between $300
and $900. This year it has been fluctuating between $3400-$4200 with today’s
price at $4103.
Ethereum was just having its ICO 5 years ago at a
price of $0.31 per ether. This year it has been fluctuating between $108-$164
with today’s price at $142.
For now it seems long term users will benefit from
fluctuating coin values, while short term users such as crypto sellers benefit
from stable coins.
If you had invested $5 in 2010, you would now have $2.5 million dollars.
That’s a 50 million percent return and there is no
shortage of news stories sharing stories of how successful people have become
by investing in Bitcoin or other cryptocurrencies.
Because of these stories, cryptocurrencies have exploded. There are approximately 290 million people in the world that hold crypto.
With a current market cap $140 billion the average
person has to be holding at least $500 in crypto.
Now, if we give all the current crypto holders a 50 million percent return on their average holding of $500 we get 72.5 quadrillion dollars.
OK, so the average investor is not going to get a 50 million percent return, but what about becoming a millionaire from their average investment of $500?
Is this more reasonable?
Getting from $500 to $1 million dollars is a 200,000% return on your investment.
Is a 200,000% return on investment reasonable?
Are you really sitting there waiting for the answer? It’s $290 trillion dollars or a little more than 3 times all the money in the world.
So if you’re looking to invest a small amount, then to sit back and make it big in crypto, that ship has most definitely sailed.
You can still make it big in this space but it will
require some work or you will need to consider expecting more realistic
There are heaps of opportunities in the crypto space and I think if you subscribe to my channel you will get to learn more about these.
With that said let’s look at crypto as an investment
rather than how it’s portrayed as a get rich quick scheme.
Crypto Exchanges such as Kucoin offer their own
token, not only do token holders receive dividends from Kucoin’s profits, but
they also get discounts on trading fees for holding the token.
It is really the perfect way to build customer
Some Cryptocurrencies offer staking where you lock in a set amount of crypto for a set amount of time. The stake gives you a percentage of transactions in the network and the ability to earn the fees from those transactions. You may still have to share some of your fees with master nodes or some of the hardware providers on the network.
Sometimes crypto organisations will do what is called a burn. A burn means that a selected number of coins are disposed of forever. If you are trading in crypto you need to be very wary of what burns will do for market prices. When Synereo burnt $100m of their cryptocurrency AMP (31st March 2018). The price floated around 28 cents (30th March) and then dropped from 31st March to lows of 25 cents and a day later on the first of April it was at a low of 21 cents.
Bitcoin has fluctuated in wild market pricing between 7500-6500 (15% margin) over these days, while also maintaining a horizontal line. While AMP had taken on a 33% loss.
So why might a coin that now has less of it
available lose against a fixed supply coin such as Bitcoin?
The reason is a coins value is based off supply and demand. The burn does affect the current supply. Coins that are burnt come from the non-circulating supply that Synereo owns. Traders anticipate a price increase because of the burn announcement and this increases demand up until the burn.
Hard forks are another type of return when users get coins in both chains. An example of this is B-Cash and Bitcoin. Hard forks occur because of a software update that is not backwards compatible. This means nodes that are not updated run the old software that sees updated nodes as having invalid transactions. Bitcoin is an open source anyone can take the project in any direction they want, for B-Cash it is a larger block size. When projects to this it is important that they use replay projection. B-Cash initially used opt-in replay protection, but now it is required for all transactions. Without replay protection you could offer someone an above market rate for their B-Cash and then replay the transaction on the Bitcoin network taking two amounts from them. B-Cash’s replay protection works by changing the signature code on the transaction, so if the same transaction is used on the Bitcoin network it is seen to have an invalid signature.
Random airdrop tokens were popular with Bitcoin and Ethereum holders in the early days. This is where organisations would give away a percentage of their tokens in order to generate interest. Less of this is done today because the SEC now has a watchful eye now on the crypto space and legitimate organisations do not want to run into legal hassles.
Blockchain is the underlying code that provides
cryptocurrency with its functionality.
Now let me give you an idea of how that code works.
If you have an account balance of $200 and you have spent
$300, which of the transactions are valid?
For centralised solutions, the problem is easy. What time or order did the transactions come in? Then just give the transactions a transaction number. Problem solved! Earlier transactions were subjected to a remaining balance. Once there is no more balance or all spending transactions exceed the balance total, the remaining transactions become invalid.
Why can’t this be done on the blockchain?
The first problem is that all nodes have different times and they can’t correct this without calling a central authority to give them the correct time. The second problem is very similar, there is no central authority for the numbering so transactions will end up with multiple transactions using the same number.
Blockchain solves these problems with blocks.
Let’s say as a node I put all my transactions in a box (this represents a block on the blockchain).
The block is just a group of transactions that total 1MB or at least they were before SegWit.
SegWit allows the separation of the transaction data from the signature (and the signature script). A common misconception is that the signature is then stored somewhere else. In fact, signatures and transactions are only stored on nodes that have been updated with SegWit. Nodes that have not been updated store only the transaction data.
Blocks also contain a hash pointer that points to the previous block, this creates a chain and makes an ordering system for the transactions. One final thing that needs to be put in a block is called a nonce and that is just a fancy name for a random number.
Finally, to secure everything inside the block, a hash function is used. It’s a unique code for everything in the block, so no other nodes can change what is inside.
When the number the hash function produces falls within the correct range the block is accepted as part of the blockchain and nodes start to point to it! This process occurs every 10 minutes on the Bitcoin blockchain. As nodes come and go from the network the difficulty level or hash range changes to ensure that it always takes approximately 10 minutes for 1 node out of the entire network to guess the nonce. Of course sometimes 2 nodes get the correct nonce at the same time. In this case, nodes point to the one they heard about first provided it is the longest chain.
And that is it! That is how the blockchain works. It is a whole bunch of computers essentially playing guess the number to win Bitcoins and have their blocks submitted!!
If there is a topic you would like me to discuss in this crypto
vlog, just make a comment on the video and suggest it!
Make a mistake in crypto and you can lose everything! During the past 5 years, I’ve seen even experienced crypto users lose thousands of dollars from simple mistakes. One user sent thousands of dollars’ worth of a cryptocurrency called Ether to his Ethereum classic address. This mistake resulted in the destruction of all of his coins that he sent with no way to recover them or reverse the transaction.
Here are the top 5 mistakes that beginners make and how you can avoid them.
1. Buying crypto with borrowed money or money that you need for something else.
You don’t need to get big. In fact, buying in small volumes allows you to obtain alt coins at a cheaper price. Alt coins will often have low trading volumes, so coming in big just pushes the price up.
2. Not Looking After the Crypto Yourself.
If you don’t own the private key you don’t own the crypto.
Exchanges are not a suitable place to leave crypto, they get hacked and these cost users millions of dollars. Leaving your crypto with any third party always involves more risk than managing it on your own.
We have been taught throughout our lives that if you want your money to be safe then you need to deposit it into a bank account. The reverse is true for crypto.
3. Depositing small amounts of money onto crypto exchanges.
Crypto exchanges can charge large fees for making a withdrawal. Small investors can end up spending a large portion of their investment on withdrawal fees. Make sure you know the withdrawal fees before you deposit!
4. Buying expensive security devices to hold crypto.
There is no point in spending $200 on a security device to hold $200 in crypto. You can store private keys on a normal flash drive. You don’t need the fancy software and a button to increase the security of a drive.
5. Falling for Scams.
Avoid things like the promise of big or guaranteed returns, real projects talk about a problem they are trying to solve.
Ask yourself why you want to be involved with a coin?
When starting out, only buy coins that are up and running or at least have a minimum viable product that you can look at and test.
The best word I can think of to describe cryptocurrency is digital cash. A cryptocurrency transaction is different from an online credit card transaction because the sender cannot reverse the transaction once it is sent and confirmed by the blockchain.
Credit cards can be a nuisance to both
businesses and consumers. Chargebacks affect businesses’ ability to operate and
make profits. For consumers, millions of their legitimate transactions have
declined because of companies adopting overly strict transaction rules. Some
consumers face the inconvenience of being verified before being able
to conduct transactions.
Cryptocurrency users face none of these issues. In
2018 approximately 290 million people globally owned some form of crypto. Yet
only 14,000 businesses globally accept crypto as payment (2018). This is a
completely ridiculous business to customer ratio (of more than 20,000
customers for each business that accepts crypto). It is a good thing crypto can
be used for a lot more than just shopping.
Crypto can also come in the form of a tokenised asset. Tokenised assets can take very expensive items, such as a new housing development, and break it down into affordable divisible portions. This reduces the barrier to entry for a lot of investors. Returns and dividends on investment can easily be handled by the blockchain by issuing additional tokens to the token holder’s address.
Fees for crypto transactions are determined by demand, but at the present time these are only a few cents. In times of exponential growth, some of the bigger blockchains can come under pressure and fees go up. This is a scaling issue and all blockchains have been working on solutions to improve performance.
The advantage of digital cash is that it is completely borderless, meaning it does not matter where the person you are sending the money to lives. Cryptocurrency is much faster than current banking solutions such as drafts, international money transfers, and services like Western Union which take a minimum of 3 days and often longer.
Cryptocurrency decentralises the power of financial
resources. For example, not everyone is able to get a bank account,
whereas with cryptocurrency anyone can create an account and start making
To better understand the intentions of
cryptocurrency, take a look at the message the creator of Bitcoin, Satoshi
Nakamoto, put into the first block. “The Times 03/Jan/2009 Chancellor on brink
of second bailout for banks”.
By referencing this article Satoshi Nakamoto is
really saying that Bitcoin can prevent these types of catastrophes.
The main suggestion from this article is that banks
will receive a cash injection from taxpayer dollars. Cryptocurrency
is a banking system that is self-governing and does not need government
assistance. It is a currency that gives power back to the people.
Let’s talk about one of my most popular videos right now (I think my TenX video might surpass it soon!). It’s how to build a gaming computer with an Asus B250 Mining Expert Motherboard. You see I pre-ordered these B250 motherboards expecting to order graphics cards after they arrived.
Unfortunately, things didn’t work out that way, I had problems withdrawing my crypto funds. Then the market crashed and mining became way less profitable. So I had parts just sitting in boxes and decided to build this, a gaming PC from an Asus B250 Mining Expert motherboard that I had left over.
The graphics card I used is GTX1070, which I just took this
from my 13 GPU rig, making it a 12 GPU rig. This hardly makes any difference in mining profits right now.
Here is a list of the parts that I used for this build:
At the time I already had a crypto debit card but the fees on it were pretty expensive. TenX offered several advantages: cash back, lower fees, and an investment opportunity where I would get a return based on profits from card use. It was too good a deal to pass up. Unfortunately, Visa terminated their agreement with Wavecrest meaning my current crypto debit card was cancelled and that TenX would no longer be sending me one either.
TenX announced they had a new card partner lined up and would soon be back on track.
partnership fell through and I began to wonder if crypto would ever be accepted
by these major financial institutions. Would I ever get a Visa or Mastercard
for my crypto or would these large organisations
shy away from providing financial services to cryptocurrency holders?
After one and a half years of waiting, I have my TenX card! The card works flawlessly and the TenX
app updates instantly with any transactions occurring from the card.
The app allows me to
quickly change what cryptocurrency I want to spend. As well as showing me all
my crypto balances in dollars.
Currently, TenX is shipping cards in Singapore, Australia, and New Zealand. You can get further information from their website: TenX.tech
Proof Media is built on RChain and hopes to lead the battle
against misleading content on the internet.
To get an invite and receive $50 worth in Proofs, please use the contact page and mention the Proof Media deal and include your email address.
Proof Media uses real
people and provides monetary compensation for them to do their own research
about information online. Users can research, vote, and submit information to
Proof Media for verification.
Proof Media does not claim to be foolproof and expects a failure rate (a situation where the
majority of voters are wrong) to be around 10%. To counter this failure rate
Proof Media will be introducing an appeal process in later versions of their
Proof Media uses a quadratic voting formula which is
designed to disestablish the rich from having the most power on the platform.
Although it sounds complicated quadratic voting is really rather simple, it
takes the square root of the number proofs placed. Proofs are the platforms own online cryptocurrency
token that users use for voting.
Several measures prevent rigged voting outcomes including
anonymous voting, a proprietary (and secret) algorithm, a removal system, and
In my opinion, Proof Media is likely to achieve a greater degree of accuracy and at less cost than previous fake news filtering systems. Unfortunately, the system does not compare to the scientific standards of peer-reviewed journals.
In this video I take you step by step through the process of creating a Space in HyperSpace.
Once a user has created a space in HyperSpace they will become the first admin of the space. The admin receives 10% of all AMPs made within this space. There is an option to make multiple admins who will each receive an equal share of this fee.
It costs money to create your own space and the cost is more than what users can accumulate through their Universal Basic Income (UBI). Therefore users wanting to create their own space should consider making some posts in other spaces, or curating some quality content before venturing into their own space.
Creating a logo and headers can quickly be done using Photoshop, or a free program like Gimp. In the tutorial, I advise that users get images from unsplash.com to ensure that they are royalty free. Google will also give alternative site suggestions should you not be able to find the images you want at Unsplash. Watch the video if you want to know more about this.
Once your space is created your jobs include promoting the space, reviewing posts for quality, ensuring that pending posts are quickly reviewed, and hiring additional admins as this space grows.
It costs 1000 AMP to create a space. You can use inactive AMP for this task.
Steps to creating a Space (video below also shows these steps)
1 – Click “Create New Space” at the bottom of your left hand side menu.
2 – Type in your Space Name and Tagline (must do)
3 – Write a description for the space (optional)
4 – Post Fee, 0 is default but you can change it if you wish
5 – Age Restricted (unticked by default)
6 – Show Pending Posts in the Feed (tick this box)
7 – Click “Upload” and choose a logo
8 – Logo appears now click “Save” (don’t miss this step!)
9 – Drop a file or choose a file
10 – Click “Create”
11 – Some info to get you started appears Click “Got it” and you are done!