The era of the content creator has officially begun.
There's been a lot of talk about how to reward content creators fairly with the help of blockchain technology and cryptocurrencies, but despite all the talk easy to implement tools have been n/a until now.
GoSeedit is here. It works. It's already being used to tip everyone from top celebrities to the Pope himself. Anyone can tip or pay anyone instantly using Twitter and Telegram right now. Eureka!
Seedit has everything you need in one place: an account, a wallet and the tools to transact with anyone, anytime, anywhere.
@kanyewest: Your wallet is filling up buddy!! Here are 50 more TRX for you!! +50 @GoSeedit. ~ Twitter@WLFOFMYST
Seedit social tipping
Seedit (goseedit.io) is a super simple, multi-platform payment system built on the Tron Network. For now tipping is available via the receiver's Twitter or Telegram account. All you need to do is enter their handle and the type and amount of Tron based cryptocurrency you wish to send. But before you do that, you'll have to create an account on Seedit.
You can, of course, also indicate that you, yourself, accept crypto tips for things like content, promotions, marketing services, etc. You can also use it to pay for social follows, retweets, views, likes, shares, comments, etc.
It's a two way street, giving us a way to show appreciation for each others time and effort and enabling more people to become part of the P2P sharing economy.
#TRON's #GoSeedit will change the playing field of #crypto adoption from this day forward. $TRX or any other token based on the TRON #blockchain platform via Twitter or Telegram. To anyone. Anywhere. Any time. Any amount. Instantly. ~ Twitter@mishalederman
Seedit & Beatzcoin
Tron, Beatzcoin and other Tron based tokens can be used to support the development of the VibraVid social streaming platform via BeatzCoin's Twitter and Telegram accounts. Seedit social tipping bot is the perfect tool made available at the right time as it allows future VibraVid users to easily receive and send crypto, giving us a taste of what the VibraVid social streaming platform is going to be like.
VibraVid, BeatzCoin & the Tron community
The team is actively involved in Tron's community building and their common goal to support artists and performers and help true talent get noticed by providing them with ways to publish, promote and sell their work in a more inexpensive, community focused manner, as well as by advancing technologies designed to help fans discover and support their favorite content creators.
At the moment, VibraVid's BeatzCoin is a TRC20 token based on the Tron (TRX) network, however, the team is developing VibraVid's own blockchain. Eventually, BeatzCoin will become a coin.
What is Tron?
Tron (TRX) is a decentralized, blockchain based network with its own cryptocurrency, TRX. As with Ethereum and ERC20 tokens, Tron gives you the option to create your own token. The Tron network is one of the largest blockchain communities in the world. Tron has its own foundation called the Tron Foundation which includes BitTorrent and Blockchain.org. The Tron network was created by Justin Sun, a social media celebrity with half a million Twitter and FB fans (each). According to the community's 67,200 sub-Reddit subscribers, the goal is to decentralize and democratize the worldwide web.
TRON (TRX) is currently ranked #12 and valued at about $0.02, down from its ATH of $0.25 back in January 2018. It's traded on over 100 exchanges and is an accepted form of payment on Pornhub as of this month.
Tron (TRX) is faster (2,000 TPS) and cheaper than Ethereum in terms of tokens and transactions. A crypto social platform like VibraVid needs a cryptocurrency that is inexpensive and fast to use. As we know social media channels tend to attract large numbers of users and they all have to be able to earn and spend their tokens without delays and without having to spend more on transaction fees with the later being the case with ETH and ERC20 tokens. Having to spend nearly $2 worth of ETH to transfer $1.50 worth of ETH/ERC20 is ludicrous.
VibraVid bounties and rewards
As already mentioned, VibraVid will offer its users a multitude of ways to earn crypto and promote content. Content creators and VibraVid will have the option to offer bounties and contest rewards for things like video of the day based on the number of views in a 24 hour period, number of shares, comments, etc. The idea of mutually rewarding support will become the new reality when it comes to social growth. In the very near future, offering and accepting crypto rewards will become as normal as 'liking' content is today.
BeatzCoin bounty program
If you are a video creator, visit BountyOx (bounty0x.io/bounties/394914) and earn up to 50,000 BTZC per video (July through October 2018). At the time of this writing BeatzCoit (BTZC) is estimated to be worth about nine cents.
If you've been wondering what's going on with Bitcoin and Altcoins lately, what with ninety plus percent price declines and fears of another multi-year bear market, the following info might explain some of the contradictory price predictions claiming Bitcoin will be worth $24,000-$50,000 by the end of 2018.
Rumor has it that crypto investors expect Bitcoin ETFs to be approved between Q4 2018 and Q1 2019 resulting in an estimated 300% price increase. Additionally, big names in traditional finance and insurance are embracing crypto investments. A notable player by the name of Bakkt is entering the space this coming November with the goal of driving mainstream adoption by attracting retail investors and furthering commercial integration.
The Bakkt trading platform (bakkt.com/index) is owned by the Intercontinental Exchange and funded by Pantera Capital. The Intercontinental Exchange also owns Ice Futures, Ice Clear and the New York Stock Exchange (NYSE). They're into collateralized commodity futures and stocks, while Pantera is into crypto. Combine the two and you get Bakkt.
Pump to dump
As anyone who has been in crypto for a while knows, cryptocurrencies can be traded, yes, but they are losing value if they're only used for speculation. Successful traders take the gains and shrink the market. Obviously, more HODLing incentives are required but that still doesn't ensure continuous growth.
Stock vs. crypto
Unlike stocks, which are based on real world economic activity, the initial value of a cryptocurrency is based on its production cost because the original goal was to create alternate currencies to be used alongside or in place of fiat currency, i.e. money.
Investment vs. utility
Furthermore, only a small percentage of people own financial instruments but everyone exchanges fiat currency for goods and services and vice versa.
Goods and services are assets whose value is based on utility and the same goes for cryptocurrencies. Technology aside, however, the only way to increase the value of a cryptocurrency is to exchange it for goods and services thereby creating real world utility and transferring corresponding value onto the cryptocurrency in the same way as it happens with fiat currencies.
Utility creates value
Let's say a pizza costs $20. This means that a piece of paper that is a twenty dollar bill is valuable because it buys you a pizza. If the pizza place accepts one NEO (currently worth about $20) and hundreds or thousands of people buy a pizza for a NEO over the course of a year, then NEO has real world value because you can buy a pizza with a single coin during that year. If, however, the pizza place refuses NEO as a means of exchange, the coin is worthless to the people looking to buy a pizza. In other words, mainstream adoption will only happen once you can buy day to day necessities using crypto.
Price valuations for real world assets typically increase over time devaluing fiat currencies in the process. It takes more money to buy the same stuff. This is one of the reasons Bitcoin was created - a digital currency that can be used as both, an investment and a means of exchange all the while remaining stable or growing in value over time. This idea worked for a while until we hit a wall which brings us back to value relative to the things we use, also known as use cases in the world of crypto.
Once again, value is what we use, the things we are willing to spend our hard earned currency (means of exchange) on. We work. That's valuable time, effort, tools, materials, etc. We are rewarded with currency which can be exchanged for goods and services. We then exchange that value (means of exchange earned through work) for the things we need to buy or pay for because they give us value. It's a never ending exchange cycle in which one type of real world value is exchanged for another.
Real world value
And while the degree of value can be argued, this is clearly a very simple concept that works because it's the reality of life and it's time for crypto to become part of this cycle. Establishing value is simple as well. All you need to do is use it to buy and sell real world goods and service and the real world value will be established in no time. If you and a million other people pay for a pizza with a cryptocurrency, no one can call it a worthless $hitecoin. And if they do, just show them the pizza or whatever you bought with it.
Back to Bakkt...
This simplistic example is one of the reasons Bakkt wants to make it easy for investors, merchants and consumers to use crypto. Buy it, sell it, HODL it, spend it. All over the world.
And they're not the only ones. Crypto has arrived. It has gained popularity and more and more people want in on it for a variety of reasons, including novelty (high tech digital assets), portfolio diversification, profit, and privacy (digital cash).
One of the main reasons Bakkt has managed to build such an enormous amount of anticipation is that it won't offer margin/leverage trading. Bitcoin futures will be collateralized and held by the company.
A not so great tidbit is the idea of trading off blockchain and thereby avoiding transaction fees, something that, if true, will become an issue for miners.
Overall, the Bakkt concept - involving regulation, institutional management and institutional investors - is a huge game changer. Microsoft and Starbucks, by the way, are part of the deal.
Bakkt, a soon to be global digital asset trading and warehousing platform for institutional investors, will most likely postpone their launch once more. Apparently, this fourth delay is due to the Commodities and Futures Trading Commission's (CFTC) needing more time to review and approve it.
Officially announced on August 3rd 2018, back when the price of Bitcoin was at around $7,452 (medium.com/bakkt-blog/introducing-bakkt-e1794dd3a45d), Bakkt is expected to offer the world's first 24 hour Bitcoin futures trading contracts settled in Bitcoin rather than fiat.
Initially, Bakkt was supposed to launch in November 2018 (ir.theice.com/press/press-releases/all-categories/2018/08-03-2018-133022149), then on December 12th 2018 (investopedia.com/news/icebacked- bakkt-will-begin-trading-bitcoin-futures-dec-12th/) and finally on January 24 2019 (theice.com/publicdocs/futures_us/exchange_notices/ICE_Futures_US-Notice_BitcoinLaunch20181120.pdf).
Now we are looking at late January or early February 2019.
In addition to the trading platform, vault and wallets, Bakkt is working on merchant integration services meant to facilitate a wider acceptance of cryptocurrencies as a means of payment for day to day purchases, starting with Bitcoin.
Bakkt's parent company, the Intercontinental Exchange (ICE), a Fortune 500 and Fortune Future 50 company, also owns the New York Stock exchange (NYSE) and dozens of other exchanges and marketplaces. Bakkt's Bitcoin futures will therefore be added to their stock exchange terminals. According to Investopedia, Bakkt's Bitcoin futures contracts will be cleared through ICE Clear US, which also clears trades for NYSE.
ICE has been invested in Coinbase since 2015, which itself has grown by leaps and bounds since. One of Coinbase's recent additions is its own over-the-counter (OTC) market for institutional investors, launched on November 28 2018 (just as BTC tanked to below $4,000), featuring lower fees and lower volatility, and soon to be integrated with Coinbase Custody, another one of Coinbase's services designed for institutional investors.
Bakkt's investors and partners include Fortress Investment Group, Eagle Seven, Galaxy Digital, Horizons Ventures, Alan Howard, Pantera Capital, Protocol Ventures, Susquehanna International Group, Microsoft (Store and Cloud Solutions), Starbucks (Mobile Pay and Starbucks Rewards Membership), Blockstream and others.
And yet, despite this mega joint effort to make crypto go mainstream through regulated and insured investment vehicles, Bitcoin and altcoin prices have continued to fall. Shorting continues and traders, rather than accumulate, have been cashing out gains.
If we look at Wikipedia's definition for 'Cui bono' to better understand why this is happening and to whose benefit, there's a mention of a scapegoat. The BCH fork fiasco and hash wars comes to mind, and then there's the real or imagined scalability issue, but what's with all the media FUD? It hasn't been this bad even early this year when Bitcoin tanked from $20,000 down to $6,000 in a matter of weeks.
Let's look at whales for a moment. What is a whale? A whale is a person or a group of people.
Grayscale's Bitcoin Investment Trust, for example, owns 1.16% of all circulating BTC (ambcrypto.com/grayscales-bitcoin-btc-investment-trust-holds-1-16-of-total-bitcoins-in-circulation) who accumulate a certain cryptocurrency by buying low, waiting for the price to go up, sell some, wait for the price to go down again and buy some more.
Over and over until they have a very large number of coins.
In the process they shake out the weak hands who panic sell by doing the opposite, namely, buy high and sell low - something that further diminishes the price and volume making it look like no one is buying and the market is in free fall.
Now, if a whale knows that something big is coming, they'll rinse and repeat because the goal is to have as many coins for as cheap as possible. The price will rise considerably at a known future date so it doesn't matter if it's cheap and worth much less right now as long as they can keep buying more for less knowing that each one of their coins will drastically rise in value.
And low volumes? They are great for whales. Whales are huge and easily make waves, swinging the market (price) in the desired direction. Given the upcoming institutionalization of Bitcoin, we must ask, will this change and what exactly will change it?
While staunch HODLers eagerly await the upcoming Bitcoin halving in 2020, traders expect a dump on the launch news, Bakkt that is, which usually occurs about five to ten days before the actual event, along with the Chinese New Year dump on or before February 5 2019, whichever comes first (in case there's a fifth Bakkt launch delay).
For starters, one day futures contracts won't do much to reduce volatility. In fact, they are limited to 24 hour periods as a means to protect investors from the volatility that is a natural part of crypto trading, at least for the time being.
Stablecoins aside, only massive commercial use of cryptocurrencies in place of fiat debit/credit/mobile pay could change that fact. In the meantime, it will take an enormous amount of consistent FOMO (fear of missing out) news to generate the next bull trend.
Back in July 2018 CCN reported (ccn.com/otc-is-much-larger-than-bitcoin-exchange-volume-where-real-whales-trade) that OTC BTC trades exceed those of public exchanges by an estimated 300%-400% and that those trades are neither recorded on the blockchain nor included on CoinMarketCap.
The question must be raised as to what extent OTC trading contributes to the volatility of the crypto markets and whether large scale institutional investors will change things by moving their crypto trading from OTC markets to regulated public platforms like ICE's Bakkt, Fidelity's Digital Assets, Eris Exchange's ErisX, and the much anticipated VanEck/SolidX Bitcoin ETF partnership.
A very interesting video interview by the Keiser Report called 'Hold On To Your Private Keys (E1316)' covers the topic of rehypothecation which Investopedia defines as a "practice by banks and brokers of using, for their own purposes, assets that have been posted as collateral by their clients." In relation to Bitcoin this raises the question as to whether Bitcoin owned by investors will be traded by those warehousing it.
Keiser Report: Hold on to your private keys (youtu.be/Yip8zUx8V7w).
Given that each Bitcoin is a unique digital coin registered on the Bitcoin blockchain, this could cause problems and influence valuation, to say the least. To mind comes the current Bitcoin Private alleged scam claiming that the team secretly pre-mined 2 million BTCP coins thereby altering the total supply of 21 million BTCP coins, with the point being that cryptocurrencies are limited supply alternative currencies.
Off chain trades like OTC and some atomic swaps could and probably already have caused similar issues resulting in devaluation. The term fake coins has been used more than once and we can only hope that this won't become an issue now that the Bitcoin mining reward halving is just a year away.
Despite existing and potential future issues in regard to overall crypto valuation, we are looking at a bright future consisting of more development and commercial implementation of the technology which combined with institutional investment and the 2020 halving is bound to drive cryptocurrencies and blockchain tech toward mass adoption and trillion dollar market caps (cointelegraph.com/news/tim-draper-predicts-total-crypto- market-cap-of-80-trillion-in-next-15-years).
Bitcoin (BTC) $3,844.22 USD (0.93%) 12/26/18.