• De chevron_right

      Daily Dose: China Crypto Crackdown

      pubsub.do.nohost.me / Decentralized Today · Tuesday, 22 June, 2021 - 10:24 · 2 minutes

    Daily Dose: China Crypto Crackdown

    China’s crackdown on Bitcoin ( BTC ) mining and cryptocurrency trading recently became a primary driver for the red candlesticks on crypto market charts. But one Bitcoin mining engineer believes China’s ban on crypto is “fantastic news.”

    Brandon Arvanaghi, a former security engineer at crypto exchange Gemini, compared China’s harsh stance against Bitcoin with the country’s ban on Facebook and Google. Arvanaghi called getting banned in China a rite of passage for free technology and stressed that the crackdown means that Bitcoin is working, not that it’s failing. “It’s making nations shiver in their boots,” he added.

    He said that nations are now picking sides, with China is responding to Bitcoin much like the country did to major Western tech firms, which is incredibly bullish for Bitcoin for the long and medium-term. Miners are currently flowing out of China — where a phone call is enough to shut down an entire mining plant — and into the United States.


    BTC.com — a major crypto mining pool that is operated by BIT Mining and owned by the NYSE-listed Chinese lottery service provider 500.com — has announced the successful relocation of its first batch of mining machines to Kazakhstan.

    BTC.com was founded by Jihan Wu and was operated by Bitmain and Bitdeer until its acquisition by 500.com this February. As of the time of writing, the pool is the world's fifth-largest , validating 10.4% of blocks on the Bitcoin ( BTC ) blockchain.

    The relocation comes after the company was notified by the state grid in western Sichuan province that the power supply serving one of its local data centers would be suspended imminently. In its announcement yesterday, BIT Mining stated:

    “On June 19, 2021, the Company's indirectly held subsidiary, Ganzi Changhe Hydropower Consumption Service Co. Ltd [...] received notice [...] from State Grid Sichuan Ganzi Electric Power Co., Ltd. [...] informing Ganzi Changhe Data Center, that its power supply would be suspended, effective 9:00pm Beijing time, June 19, 2021. Ganzi Changhe Data Center has since suspended its operations. Data centers in Sichuan, including the Ganzi Changhe Data Center, contributed approximately 3% of the Company's total revenues in the month of May 2021.”


    Dogecoin ( DOGE ), Elon Musk's pet favorite cryptocurrency, has shed tens of billions of dollars in value since he publicly plugged it on mainstream TV. As sources noted this week, the meme-based altcoin's market cap is now $69 billion down versus where it was when the Tesla and SpaceX CEO hosted Saturday Night Live.

    Dogecoin: 6 weeks, 70% losses

    Dogecoin saw a major rally in early May, and its height had a market cap of $95 billion. When Musk took to the airwaves on May 8, contrary to expectations, DOGE/USD then began a precipitous fall which continues to this day.

    At the time of writing, Dogecoin’s market cap is just $26.5 billion — 72% lower. It trades at $0.20, a far cry from its $0.73 all-time highs.

    Daily Dose: China Crypto Crackdown

    This Daily Dose was brought to you by Cointelegraph.

    • De chevron_right

      4 Types of Cryptocurrencies - A Framework to Think About Cryptoassets

      pubsub.do.nohost.me / Decentralized Today · Monday, 21 June, 2021 - 23:00 · 12 minutes

    4 Types of Cryptocurrencies - A Framework to Think About Cryptoassets

    Anthony Xie is a Medium writer and contributor on Decentralize Today. For more of his work, you can Follow him on Medium.

    DT Intro: In the two years since Anthony wrote his excellent piece, not only has (is) the world endured a viral epidemic but the number of cryptocurrencies has quadrupled to over 10,000...this guide still helps the discerning observor better understand what is what!

    On coinmarketcap alone, there are 2,347 unique cryptocurrencies listed as of September 3, 2019.At HodlBot we help you navigate the cryptocurrency market by automatically diversifying and rebalancing your cryptocurrency portfolio.

    4 Types of Cryptocurrencies - A Framework to Think About Cryptoassets

    While each coin claims to be unique in its own way, the majority of all cryptocurrencies can be categorized under one of these 4 types:

    1. Store of Value Maintain purchasing power in the long run
    2. Digital Currency Used for everyday transactions
    3. Utility Token Used for redeeming a service/good
    4. Security Token Tokenized representation of a real-world asset

    Note that these are not mutually exclusive categories. A single coin may fall in more than one category.

    1. Store of Value Cryptocurrencies

    Popular SoV Cryptocurrencies:

    • Bitcoin Bitcoin is a prime example of such a cryptocurrency.
    4 Types of Cryptocurrencies - A Framework to Think About Cryptoassets

    A good store of value (SoV) cryptocurrency has three primary attributes.

    1. Ability to preserve or increase its future purchasing power
    2. Cheap to store
    3. Able to sell or buy quickly (liquidity)

    The Problem SoV Cryptocurrencies Are Trying to Solve

    Traditionally, cash, government bonds, gold, have all been considered good stores of  value. But unfortunately, each house some deficiency because they are  either are costly to store, difficult to buy/sell, or their purchasing  power erodes over time.

    Cash

    Inflation  erodes the purchasing power of cash every year. While it may be an  appropriate store of value for the short and medium-term, it is not a good option for the long-run.

    4 Types of Cryptocurrencies - A Framework to Think About Cryptoassets

    Government Bonds

    4 Types of Cryptocurrencies - A Framework to Think About Cryptoassets

    Government bonds are liquid, non-volatile, and historically have provided a fair rate of return (2–3%). But we are approaching an environment right now, where government bonds are beginning to yield a  negative interest rate (-1% per year). If the return on government bonds cannot overcome inflation, then they can no longer guarantee the preservation of future purchasing power.

    Real estate Boom & Bust ft. the housing cycle

    4 Types of Cryptocurrencies - A Framework to Think About Cryptoassets

    Land & property are volatile stores of value because they are affected by housing market price fluctuations. Volatility aside, they are not considered liquid assets. It takes weeks and sometimes months to buy or sell a piece of real estate. Any attempt to force liquidation will force the seller/buyer to transact on a discount.

    Gold

    4 Types of Cryptocurrencies - A Framework to Think About Cryptoassets

    Gold is the closest comparison to an SoV cryptocurrency, but  the cost of storing gold is much higher since it is a physical asset. As  per reports published by Nomura, the long-term average cost of storing  gold is close to 2.4% annually.

    The Solution SoV Cryptocurrencies Propose

    Secure, and Cheap to Store

    Compared to gold, SoV cryptocurrencies are much cheaper to store. All you need is a hardware wallet, and you can technically keep the coins secure  forever at zero cost. One can also make the argument that  cryptocurrencies are much more secure than gold since not even the state  can forcefully repossess your assets.

    Maintaining purchasing power through demand & scarcity

    Maintaining  purchasing power as an SoV cryptocurrency is extremely difficult since  the currencies are usually not pegged to any real-world asset. Their  price is completely determined by the dynamics of demand & supply in  the market. This is to say, if nobody wants an SoV cryptocurrency  anymore, the price will drop to $0.

    While anyone can create an SoV cryptocurrency, the strongest ones out have a huge network of buyers, sellers, and HODLers. Network effects are what make SoV cryptocurrencies defensible. Strong networks keep the price stable and sticky. The more  people who hold SoV cryptocurrencies, the more demand, trading volume, and liquidity and price-stability there will be.

    Bitcoin is a good example of an SoV cryptocurrency because of its demand, liquidity, scarcity, and cheap cost of secure storage.

    4 Types of Cryptocurrencies - A Framework to Think About Cryptoassets

    Scarcity provides Bitcoin owners with a guarantee they will not have to worry about wonton increases in the money supply, which will inflict inflation and erode the purchasing power of the currency in the future.

    Bitcoin was designed to have a natural inflation rate similar to gold. In 2018, it was 4% a year. In 2020, it will be 2%. Eventually, it will edge closer  and closer to 0%. Every 4 years on average (210K blocks), the reward  granted to Bitcoin miners for adding a new block is cut in half.

    4 Types of Cryptocurrencies - A Framework to Think About Cryptoassets4 Types of Cryptocurrencies - A Framework to Think About Cryptoassets

    In addition, selling and buying Bitcoin is much easier than selling  or buying a house. Cryptocurrency-fiat onramps like Coinbase are  providing liquidity for people trying to get in and out of the market.

    Are Store of Value Cryptocurrencies a Good Investment?

    SoV cryptocurrencies that exhibit the attributes aforementioned are  worthwhile. Other SoV cryptocurrencies that don't have liquidity,  demand, or scarcity built into its monetary supply are worthless.

    An SoV cryptocurrency is only a worthwhile investment if it holds its end  of the bargain which is to hold or increase its purchasing power over  time.

    2. Digital Currencies

    The second type of cryptocurrencies are digital currencies, coins that are designed for everyday transactions.

    Unlike SoV cryptocurrencies, digital currencies don't care about maintaining purchasing power in the long-run, as long as the currency's inflation  rate is comparable to cash.

    In fact, deflation is typically a bad  thing for digital currencies since that means everyone will want to hold  it instead of using it to pay for goods & services. If it's preferable to hold it than to spend it, then you may have yourself an SoV cryptocurrency instead of a digital currency.

    Popular Coins that Fit This Category:

    • Facebook Libra
    • Litecoin
    • Dash
    • Monero
    • ZCash
    • IOTA

    Digital currencies face an even larger incumbent than SoV cryptocurrencies, as their main competitor is digital cash. According to Visa's estimate, $40 trillion is spent via digital transactions every  year. The old guards vs. new entrants

    4 Types of Cryptocurrencies - A Framework to Think About Cryptoassets

    Visa & MasterCard own most of the market share in this space. Their solution is extremely good because it offers:

    • A form of payment accepted everywhere (a huge network of merchants)
    • Behind the scenes settlement with thousands of banks (a huge network of banks)
    • Trust (merchants rather deal with Visa than with the individual customer)
    • Credit
    • Speed (low latency, instantaneous sales)
    • Convenience (payments anywhere via scan, tap, online)
    • Stable purchasing power

    Visa & Mastercard are extremely difficult to compete against.  It's taken them a titanic amount of resources, and multiple generations  to build-up an integrated network of banks, merchants, and cardholders.

    So How Can Digital Currencies Compete?

    The two main points of differentiation that digital currencies can have are:

    Transaction Fees

    Every  electronic transaction through your debit or credit card can cost up to  1–2% for merchants. These fees are so high, that entire businesses have  been nurtured off this revenue stream. For example, digital banks like  Koho, Revolut, Monzo, make the bulk of their revenue off of debit  interchange. That is to say, they take a percentage of the processing  fee.

    Digital currencies have the potential of being more  cost-efficient, especially for large money transfers (cryptocurrency  transaction fees are usually a flat fee that scales better with large  payment) and micro-payments (just not feasible when processing fees are  high).

    Privacy

    What  you spend money on is being tracked and recorded. This is not ideal for  merchants who deal in the black/grey market. That's why digital  currencies centered around privacy like Monero, are really popular for  illicit dealings.

    Challenges to Overcome for Digital Currencies

    Popular Acceptance:

    It's  really difficult to enable digital currencies to be accepted  everywhere. It took Visa, originally a conglomerate of banks, an entire  generation to make significant headway.

    In the digital age, it may be easier, but perhaps only something a big company like Facebook can do.

    Price Stability

    No one wants to use a currency for everyday transactions if the price goes  up and down by 10% every day. Many digital currencies suffer from this  problem. That's why Facebook Libra is such a promising digital currency  because it promises price-stability.

    High Throughput & Low Costs and Latency

    In order to be appropriate for everyday use, digital currencies must have  low fees and minimal latency. Furthermore, the overall network needs to  have high throughput and be able to handle a high degree of  transactional volume.

    In the past, proof of work systems failed to  scale in an efficient and inexpensive manner. That's one of the reasons  why Bitcoin is not a good digital currency. New proof of stake  innovations promise better throughput & lower costs, but time will  tell whether they are just as secure & fair as their proof of work  counterparts.

    Not a Suitable Long-Term Investment

    Typically  digital currencies are not good investments if they are not also a good SoV. For example, no one should invest in Facebook Libra because  investing in a digital currency is akin to holding cash. Sure you may  want to hold some of your assets in cash, but you wouldn't want to  invest in it because of inflation (unless everything else is going  down).

    4 Types of Cryptocurrencies - A Framework to Think About Cryptoassets

    The third type of cryptocurrencies are utility tokens. Put simply, utility tokens are cryptocurrencies that are used to pay for goods & services on a given network.

    For example, networks like Ethereum require users to pay a certain fee to expend computational power on the network. TRON, Cardano, Tezos, all work in a very similar manner. Users must pay a fee for interacting with smart contracts.

    Popular Coins that Fit This Category:

    • Ethereum
    • Augur
    • Vechain
    • TRON
    • EOS
    • Binance Coin
    • Stellar
    • Cardano
    • Tezos

    Utility tokens offer initial coin offerings (ICOs) as a way to raise  money, and subsidize the cost and development of the network.

    As  the network issues new tokens, there needs to be demand from new buyers  in order to keep the price moving upwards. New buyers come from two  streams: financial speculators/investors and actual users.

    4 Types of Cryptocurrencies - A Framework to Think About Cryptoassets

    Financial speculation is transient. It can only last so long.  In order for the price to stabilize or move upwards, it needs to be  pegged to actual demand & usage.

    If the service is  valuable, then the utility token will be too. The price of a utility  token is a proxy measure of the utility's current and future demand.

    Typically  utility tokens are uncapped, meaning that they have a potentially  infinite supply. If the network is irresponsibly printing out new tokens  and inflating the supply, no amount of demand will be able to stop the  coin devaluing. This renders inflation a large concern. Be wary of the  token projects that have an unbounded cap, and a team that is  aggressively selling their tokens to raise funds.

    Should You Invest in them?

    When you're evaluating a utility token for a potential investment you should consider whether:

    1. The utility token will have future demand from people who want to actually redeem it
    2. Whether  the supply is susceptible to inflation. If the project owners control  the supply on a whim, they may be able to mint a bunch of new tokens and  cash out while the rest of the tokens are devalued.

    Most investors are really bad at predicting #1. Considering the fact that we  don't have many successful projects based on the utility token model, we  should expect most of these projects to die and their tokens to be  worthless.

    In my opinion, utility tokens are the most speculative and risky area of cryptocurrency investing.

    4. Security Tokens

    • C20
    • Bcap (Blockchain Capital)
    • Science Blockchain
    • USDT

    Popular coins:

    Security  tokens are digital representations of real-world assets on the  blockchain that are subjected to securities regulation e.g. equity, real  estate, debt, currency, etc.

    Why Tokenize Securities at all?

    Improved Liquidity

    The  majority of private-sector assets are not liquid and tradeable in a  secondary market. For example, real estate and private securities are  typically very costly to liquidate and to trade. It usually takes a long  time to find matching buyers/sellers and to execute the deal.

    On  the other hand, security tokens can be instantly tradeable on exchanges.  As a digital cryptocurrency, you can transfer ownership between buyers  & sellers very quickly. Adding liquidation and market depth  increases the value of the asset via a "liquidity premium".

    Fractional Ownership

    When  a valuable asset is tokenized, its ownership can be broken down into  many fractional pieces. This enables the asset to be more affordable and  accessible to retail investors since they can buy a small piece of it  at a fraction of the price.

    Unbundling

    Tokenization  can allow you to unbundle specific features of a security to be  digitized and sold separately. E.g. tokenizing specific revenue streams  for a company, or voting rights on a share.

    Problems with Security Tokens

    Price Discovery & Liquidity

    In theory, the price of the security token should closely resemble what the underlying asset is worth.

    But  in the real world, you may see a price gap between the security token  and its underlying asset. Some may favor the security token if it is  more liquid than the real-world asset.

    If the security token is  illiquid, and it is hard to redeem the security token for its real-world  counterpart, then the price of the security token can actually be much  lower.

    Regulation

    The  SEC is moving aggressively to apply securities regulations on tokenized  securities. It is unclear how these regulations will play out, and  whether they will take away several of their perceived benefits e.g.  secondary market, public issuance.

    Should You Invest in them?

    The same rules apply for normal securities. Evaluate the value of the underlying security however you normally would.

    Unless  you're in the business of arbitrage, price discrepancies between the  security token and its underlying asset is usually a bad sign. It means  that the creation & redemption mechanism is broken, or at the very  least, full of friction.

    In a frictionless market, there should be  no discrepancy between the price of the security market, and the price  of the underlying assets.

    Written by Anthony Xie

    I'm the founder of HodlBot .

    I'm a big data nerd. I like to talk about all things data, finance, and crypto. You can find me on Twitter here .

    At HodlBot, we make it easy to automatically create diversified cryptocurrency portfolios.

    We created HODL10, HODL20, HODL30 indices and the first ever application that allows you to create your own personalized cryptocurrency index fund .

    To get started all you need is a

    1. Cryptocurrency Exchange Account
    2. $200 in any cryptocurrency

    Sources/ Further Reading:

    Security Token Thesis — Iliya Zaki

    The purchasing power of the dollar — FRED

    Negative Yielding Debt — Bloomberg

    Estimated Gold Storage Costs — Nomura

    Bitcoin Purchasing Power — BitcoinPPI

    Bitcoin Inflationary Currency — Fee

    Libra White Paper — Libra

    Reference Link:

    • De chevron_right

      Turning on the taps...crypto-charity funding clean water projects

      pubsub.do.nohost.me / Decentralized Today · Friday, 18 June, 2021 - 23:00 · 2 minutes

    Turning on the taps...crypto-charity funding clean water projects

    Bitcoin Water Trust, With Unique HODL Charity Model, Quickly Raises $1.3 Million In BTC

    As a keen environmentalist for many years, I was intrigued to see the lead story on this project skim through my Twitter feed the other day, so I thought I'd take a closer look.

    It seems that during the 2021 Bitcoin conference in Miami, the trust was announced as an exponential growth fund for providing clean water, presumably in places of need.

    The initiative's 'unique treasury management strategy', termed the "HODL MODL," will hold all bitcoin received until 2025 in order to increase the size of the fund and thereby help more people.

    The Bitcoin Water Trust has already received 33.75 BTC (over $1.25 million) since it's launch on June 4 with BTC rising around 8% over the same timeframe.

    U.S.-based bitcoin exchange Gemini , which is providing cold storage custody for the trust, commented:

    "This new charity model — the HODL MODL — creates a new paradigm for charitable giving, It brings the HODL ethos of Bitcoin to charitable giving, and means your bitcoin donation today could make an even bigger impact tomorrow."

    Additionally,, Gemini's founder brothers, Tyler and Cameron Winklevoss (of Facebook fame), will match the first 50 BTC received by this phase of the trust's development.

    See, the crypto-donation-collection activity of the charity, charity: water, was actually established in 2014 and has received over 565 BTC to date, but the coins received were immediately converted to fiat and used to fund projects and operating expenses.

    This meant that the charity missed out on Bitcoin's exponential price rise over the years, thus the 'new model, new trust'! Now all Bitcoin received will be held until 2025, seeking to reap future price run-ups.

    There is always some ambiguity in my mind about charity especially when run by multi-billionaires but in an area of clear need and the absence of co-ordinated inter-government action it should be seen as a good thing and can certainly convert some of the wealth generated by cryptos for social benefit. On that basis let's hope these investments go up!

    About the group

    charity: water, has sought to end the global water crisis since it was founded in 2006. Over the past 15 years, donations to charity: water have funded almost 65,000 projects, giving access to clean water to over 12.7 million people. According to the nonprofit's website, 785 million people around the world currently live without clean water.

    By accepting and holding bitcoin, charitable organizations worldwide can leverage Bitcoin's path to adoption , marked by ever-growing purchasing power until it becomes a widely-accepted unit of account, to have a bigger impact in making the world a better place.

    • De chevron_right

      Daily Dose: Cuban Crisis

      pubsub.do.nohost.me / Decentralized Today · Friday, 18 June, 2021 - 14:21 · 3 minutes

    Daily Dose: Cuban Crisis

    Billionaire investor and DeFi proponent Mark Cuban has called for stablecoin regulation after losing money on what he dubbed as a “rug pull” on the Iron Finance protocol. According to Iron Finance, the partially collateralized stablecoin project was the subject of a “historical bank run” that resulted in the price of the IRON stablecoin moving off peg. As a consequence, the price of Iron’s native token TITAN crashed by almost 100% over two days from its all-time high of $64.04.

    Speaking with Bloomberg on June 17, Cuban blamed himself for “being lazy” and not doing enough research, but also raised questions surrounding the regulation of stablecoins:

    “There should be regulation to define what a stablecoin is and what collateralization is acceptable. Should we require $1 in U.S. currency for every dollar, or define acceptable collateralization options, like U.S. treasuries.”

    "Even though I got rugged on this, it's really on me for being lazy. The thing about DeFi plays like this is that it's all about revenue and math and I was too lazy to do the math to determine what the key metrics were," Cuban said.


    Banco Bilbao Vizcaya Argentaria (BBVA) — Spain’s second-largest bank — is set to offer Bitcoin ( BTC ) trading and custody services in Switzerland. According to a release issued on Friday, BBVA Switzerland will begin Bitcoin trading for all private banking clients interested in crypto assets from June 21.

    This initial crypto trading service isonly for Bitcoin but the bank says it has plans to extend its offering to other cryptocurrencies. However, BBVA says its crypto trading desk will not include any digital asset investment advisory services.

    As part of the announcement, BBVA Switzerland revealed that the Bitcoin trading service will form part of the bank’s asset investment catalog for private banking clients. Thus, customers will be able to view the performance of their BTC positions alongside the rest of their portfolios.

    According to the statement, this in-app integration will offer simplicity for customers in terms of streamlined data for statement of accounts and tax filing purposes among others. BBVA Switzerland also stated that customers will be able to convert between Bitcoin and fiat currencies automatically to prevent losses due to price volatility.


    With Bitcoin ( BTC ) mining concentration expanding in North America, Miami mayor Francis Suarez is looking to position his city as a hub for crypto mining activity. Speaking to CNBC on Thursday, Mayor Suarez said he is inviting foreign mining companies to consider establishing data centers in the city.

    According to Suarez, Miami’s ample nuclear electricity supply should attract Bitcoin miners looking to adopt clean energy sources for their operations, especially amid the current spotlight on the supposed carbon footprint of crypto mining.

    Mayor Suarez has previously weighed in on the issue claiming back in March that 90% of Bitcoin mining was from “dirty energy.”

    At the time, the Miami mayor argued that a shift in mining concentration to the United States may help to ease environmental concerns. As part of efforts to attract overseas Bitcoin miners, Mayor Suarez stated that city officials were looking to reduce the cost of energy in conjunction with the power companies. Other incentives like favorable taxes and minimal regulations are also on the table, according to the Miami mayor.

    This Daily Dose was brought to you by Cointelegraph.

    • De chevron_right

      Privacy Cookbook - Chapter 5.8.2 - Cellphone Security - critical app functions blocking

      pubsub.do.nohost.me / Decentralized Today · Thursday, 17 June, 2021 - 23:00 · 2 minutes

    Privacy Cookbook - Chapter 5.8.2 - Cellphone Security - critical app functions blocking

    I recently shared how to ADB disable apps and bloatware. Today we go the extra mile and block access to location, clipboard and co for apps that shouldn't have these permissions.

    First hop over to F-Droid and download AppOpsX, yes, the app is 2 years old, but still does the trick!

    Go to Settings --> Developer Options and activate USB debugging

    Keep your phone connected via USB until the entire process is fully done!

    Open the AppOpsX app and type in your terminal (on your computer) in this order:

    adb devices
    adb tcpip 5555
    adb shell sh /sdcard/Android/data/com.zzzmode.appopsx/opsx.sh &

    Now check on your AppOpsX app - App permission (top right under the 3 dots)

    Disable “read clipboard” for all apps except apps like your messengers (Signal, Threema, Element etc.), the notes apps, office apps, clipboard monitor and your keyboard app.

    Disable “GPS”, “precise location”, “approximate location” and “coarse location” for every app except your maps app OSMAnd+

    Disable “modify clipboard” for every app except for your keyboard, office and note apps.

    Disable “calendar” for every app except your calendar app

    Disable “read contacts”, “modify contacts” and “get contacts” for every app except your Phone, Phone Services, Phone/Messaging Storage, contacts and message apps.

    Disable “camera” for every app except your camera and messenger apps

    Disable all “send/receive/view messages” permissions for every app except “Phone”, “Phone Services”, “Phone/Messaging Storage”, contacts, dialer and messenger apps

    Disable “body sensors” and “recognize physical activity” for every app except any compass dependent app like camera or bubble leveling app

    Disable “record audio” for every app except camera, recorder, dialer and messenger apps. Of course, if you use messaging apps for texting only, remove the permission on all those apps as well.

    Disable all “Phone” permissions for apps except your SMS app and Contacts, Dialer and call recorder apps

    Disable “change WiFi state” for every app

    Disable “display over other apps” for any third-party app except for apps you really need this feature. For example, NewPipe.

    Disable “read storage” and “write storage” for all apps except file manager, file sharing app and messenger apps

    Enable all permissions for “Phone”, “Phone Services” and “Phone/Messaging Storage” system apps, critical for cell radio calling and sending SMS. Disable everything else.

    You can go point by point and check the permissions, you will soon figure out that most of those permissions are nonsense and if that's the case, switch it off. The fewer permissions given, the more privacy and security is reclaimed.

    Once you are done, unplug the Phone. Remember every time you install new apps to check on those permissions and re-adjust it to your needs.

    As always, I highly recommend using FOSS apps from F-Droid only. They usually respect your privacy and the community and F-Droid will make sure it stays that way.

    Stay safe guys

    • De chevron_right

      Daily Dose: Satoshi Statue

      pubsub.do.nohost.me / Decentralized Today · Thursday, 3 June, 2021 - 09:55 · 2 minutes

    Daily Dose: Satoshi Statue

    Bitcoin’s anonymous creator Satoshi Nakamoto is set to be depicted in a life-size bronze statue in Budapest, the capital city of Hungary.

    According to local news outlet Hungary Today, sculptors, Réka Gergely and Tamás Gilly are designing the statue, and have unveiled initial plans depicting a figure with a featureless face wearing a Bitcoin hoodie.

    Daily Dose: Satoshi Statue Image: Réka Gergely

    The hood is over the figure's head, and the face will be made from a reflective surface so that viewers can see themselves mirrored back when they look at the statue — emphasizing the idea that “we are all Satoshi.”

    Cybersecurity firm, NortonLifeLock, has launched Norton Crypto, a tool allowing consumers to “safely” mine cryptocurrency through its Norton 360 product. From June 3, select 360 users will be invited to join Norton’s early adopter program for Ethereum mining . Norton also plans to open up the mining service to all of its nearly 13 million 360 customers in the coming months. Norton emphasized that its service allows users to mine without requiring they switch off their antivirus software.

    Speaking to CNN Business, Norton noted it plans to support mining of other “top cryptos that allow our members to get the highest reward for their computing capacity” moving forward, stating:

    “While the company will start slow, with a focus on helping customers safely mine Ethereum, NortonLifeLock is considering adding reputable crypto currencies in the future.”

    NortonLifeLock chief product officer, Vincent Pilette expressed pride in his firm becoming the first cybersecurity company offering services allowing miners “to safely and easily turn the idle time on their PCs into an opportunity to earn digital currency.”

    In a surprise move on Wednesday, online advertising behemoth Google lifted a nearly three-year-old policy banning cryptocurrency exchanges from using its ad services.

    “Beginning August 3, advertisers offering Cryptocurrency Exchanges and Wallets targeting the United States may advertise those products and services when they meet the following requirements and are certified by Google,” reads a policy update on the company’s support page.

    Requirements exchanges have to pass include needing to be either registered with “FinCEN as a Money Services Business and with at least one state as a money transmitter” or “a federal or state chartered bank entity,” potentially opening the door to ads from services like Anchorage and Paxos .

    The new policy won’t open the door to the vast majority of crypto institutions, however, as “ads for initial coin offerings, DeFi trading protocols, or otherwise promoting the purchase, sale, or trade of cryptocurrencies or related products” all continue to be prohibited. News and chart aggregators as well as “signals” and analysis services also remain on the ad blacklist.

    This Daily Dose was brought to you by Cointelegraph.

    • De chevron_right

      Daily Dose: No Crash For Bitcoin, Top 10 Finish

      pubsub.do.nohost.me / Decentralized Today · Monday, 31 May, 2021 - 10:49 · 2 minutes

    Daily Dose: No Crash For Bitcoin, Top 10 Finish

    Popular American NTT IndyCar Series will feature the popular cryptocurrency in Sunday’s big event. The annual automobile race held at Indianapolis Motor Speedway will see cars race 200 laps to claim the title of Indy 500 winner.

    Ed Carpenter Racing (ECR) had announced this week that their number twenty one Chevrolet will be driven by Rinnus VeeKay, and will be sponsored by the popular cryptocurrency.

    The race car will be detailed in the popular BTC logo. The BTC logo is not under any copyright laws, therefore giving the team free reign to design the car as they wish. The car has also been numbered as 21 to signify the total supply of BTC, being 21 million.

    Daily Dose: No Crash For Bitcoin, Top 10 Finish

    Three years and some unforgettable memes later, the Securities and Exchange Commission has announced that 5 individuals will face charges relating to promoting the Bitconnect Ponzi scheme.

    “The SEC's complaint alleges that these promoters offered and sold the securities without registering the securities offering with the Commission, and without being registered as broker-dealers with the Commission, as required by the federal securities laws,” the release reads.

    The promoters, including Trevon Brown, Craig Grant, Ryan Maasen, and Michael Noble are said to have “advertised the merits of investing in BitConnect's lending program to prospective investors, including by creating "testimonial" style videos and publishing them on YouTube, sometimes multiple times a day.” In exchange for their promotional efforts, the influencers and representatives were paid on a commission basis.

    Ireland’s central bank director general for financial conduct is the latest official to point out issues of Bitcoin ( BTC ) and the cryptocurrency industry following a major market sell-off.

    The growing popularity of cryptocurrencies like Bitcoin is “of great concern,” the Central Bank of Ireland’s Derville Rowland warned, Bloomberg reports Monday.

    “Crypto assets are quite a speculative, unregulated investment,” and investors should be “really aware they could lose the whole of that investment,” Rowland stated after crypto markets shed nearly $1 trillion in a matter of days in one of the biggest historic crypto sell-offs .

    Rowland’s perspective on the crypto is set to contribute to the global regulation of the space as the official will take over as chairwoman of the European Securities and Markets Authority’s investment management standing committee in July. Earlier this year, the financial authority outlined the same concerns around crypto , stating that these types of assets are not regulated and pose significant risks for investors due to its highly volatile nature.

    This Daily Dose was brought to you by Cointelegraph.

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      The Sunday Long Read: A Beginner's Guide to Fintech

      pubsub.do.nohost.me / Decentralized Today · Saturday, 29 May, 2021 - 23:00 · 11 minutes

    The Sunday Long Read: A Beginner's Guide to FintechThe Sunday Long Read: A Beginner's Guide to Fintech

    Quick Links

    As technology has been advancing swiftly over the past two decades, so has its merge into our everyday lives.

    From computers to phones and now our wallets.

    Financial technology or fintech has seen a 64 percent adoption rate across the globe.

    The line is blurring between financial companies and tech startups as those in the North American tech industry continue to make products geared to financial service organizations.

    Advanced technology has enabled companies to create low-cost, high-value, and data-driven solutions for customers.

    Many of these are designed to simplify payment processes and operations.

    According to PwC researchers , the biggest prize for fintech efforts is customers.

    So, creating seamless experiences that keep customers coming back, again and again, will differentiate organizations that win in the fintech market from those who fail.

    Thus, the ultimate goals in the industry are to create products that are:

    • Personalized
    • Convenient
    • Secure
    • Fast
    • Low-cost
    • Easy to use
    • Available 24/7

    Although the capability has been around for some time, it has only been in the last several years that financial services companies have increased their investment in fintech capabilities.

    Some speculate that it has been the threat of competition from the tech industry that caused financial companies to try and modernize their operations.

    Regardless, the current marketplace has found a synergy between large financial organizations and technology companies.

    Working together, these businesses appear to have found that collaboration allows them to capitalize on each other’s strengths and overcome weaknesses such as expanding into new markets or gaining knowledge.

    Overview of fintech: What is it, why does it matter?

    Fintech is an emerging sector that unites financial companies with technology ones.

    The goals are to transform how financial companies operate, work together, and improve services and products for customers.

    All sizes of companies can be considered fintech ones, from tech startups to mid-size businesses to large corporations.

    If they are engaged in offering financial services or products through a tech platform, it’s fintech.

    A study by PwC found that while about 47 percent of telecommunications and financial services companies have embedded fintech into their operating model, many are still at the development or pilot stage.

    This puts them at risk of being left behind and losing their customers.

    There are various technologies that have been useful to the rise of fintech, such as:

    • Artificial intelligence
    • Internet of Things
    • Cloud
    • Big data
    • 5G
    • Blockchain
    • Robotic automation
    • Voice technology

    Many of these technologies are already being used by consumers in their homes and at the office.

    Because they are already comfortable with it, using technology for financial services is an easy transition.

    The COVID-19 pandemic saw customers become further entrenched in digital habits.

    As businesses shut down and closed operations in response to the global health crisis, more and more people began shopping online, communicating with one another online, and the number of remote workplaces increased substantially.

    As governments continue lockdowns in an effort to contain the virus, daily life has changed irrevocably.

    It has become more digitized than ever. The PwC Consumer Insights Survey for 2020 found that 63 percent more consumers were shopping for groceries online, and 83 percent intended to continue using online grocery services after COVID-19.

    Financial services and products have also been altered due to the pandemic.

    Banks have been closed or reduced their hours so that customers looking for financial products or opportunities have been forced to go online.

    As more time passes, fintech is losing its mystery and becoming seen by consumers as a safe and easy way to do their banking and pay for goods and services.

    Key areas of fintech

    In the fintech industry, there are many different sectors such as banking, wealth management/investing, trading, and payments that have seen significant growth and also have the capacity to be the most disruptive to traditional institutions.

    These different areas are also ones that have the most impact on consumers.

    1. Banking

    The services that many traditional banks have been offering for years have largely gone digital.

    From opening and managing saving accounts to borrowing money, Canadian financial institutions responded to customers’ desire for better banking options by investing in technology that makes everyday banking accessible online.

    These options include online banking and apps to help customers track their money wherever they are.

    By using advanced technology and various data collection methods, digital lenders have been able to offer customers new ways to borrow money.

    The attraction of digital lending for consumers is often the ease and speed of the application and approval process.

    Applications are made online, and lenders approve the loan within days.

    Borrowers can apply for loans to cover a variety of expenses, including student loans, car loans and even personal lines of credit.

    2. Wealth management/investing

    Technology has overturned traditional investing and wealth management processes.

    Automated robo-advisors are helping investors find new opportunities and new ways to manage their money.

    Through the use of algorithms, robo-advisors can gauge risk tolerance and offer customers the convenience of managing a portfolio from a distance.

    Robo-advisors can customize the investing experience by connecting individual users with investment options that fit their lifestyle or values, such as helping socially-conscious investors find investing opportunities with socially aware organizations.

    Customers who use online platforms to help them make decisions about investing, retirement, etc., are benefiting from the assistance of a robo-advisor.

    The attraction of using them is their low-cost, round-the-clock accessibility and the potential to get started with less capital.

    Fintech solutions of wealth management and investing are targeted mainly at younger consumers or middle class consumers.

    Traditional wealth managers continue to focus on customers with a significant amount of money to manage.

    3. Payments

    Fintech’s payment sector can be divided into three main areas:

    • Person-to-person – refers to payments that customers make to other individuals. For example, e-transfers can be used when people sell and buy things from sites like Craigslist or Facebook Marketplace. Fintech can also be used in the freelance or gig economy to pay temp workers when they complete a task. Sites like PayPal or Square are often used for this type of transaction.
    • In-store retail – The rise of mobile wallets and payment apps like Apple Pay or Google Pay falls under the in-store retail payment sector. These payment methods often use near-field communication(NFC) technology, QR codes, or barcodes for transactions.
    • Debit/credit transactions – Whenever a customer uses a debit or credit card to pay for something either in the store or online, it involves a complex tech process that seamlessly approves the purchase within seconds.

    4. Trading

    The ability of fintech to disrupt traditional industries can be seen in its impact on trading.

    Before its development, trading was only something that those with expertise could engage in as there was substantial knowledge, strategy, and skill required.

    However, consumers can now use trading apps that have unlocked the opportunity for anyone to open an account.

    Opening up trading to anyone with a digital account has levelled the playing field, but it also comes with some risk as those who engage in trading without a complete understanding of how it works stand to lose a lot of money.

    Although there still is some competition between financial institutions and tech startups, cooperation has become more of the norm in the fintech industry.

    Large banking institutions have started to seek out the knowledge and cutting-edge skills available in the tech industry.

    For example, TD Bank Group has set aside $3.5 million to help startups with patent applications, according to Deloitte .

    Other banks have been partnering with various tech companies to offer automated bill payment or invoice processing to customers and businesses.

    It all seems to come down to keeping the customer happy, which comes from a combination of engagement and convenience.

    Top fintech companies North and South of the border

    As the fintech sector continues to grow and develop, some companies have already made a name for themselves.

    Many of these organizations offer products or services to consumers in the key sectors of banking, trading, wealth management, and payments.

    Banking

    Acorns – Based in California, Acorns promotes itself as a way to help customers save money. By connecting to users’ accounts, it transfers small amounts of money for every purchase or payment made from the account. To further their banking options, Acorns also has an investment option for customers who use the app.

    Northone – Promotes itself as the digital banking solution for freelancers and small businesses. While it was only launched a couple of years ago, it has over 190,000 users.

    Trading

    Robinhood – Based in California, Robinhood founders designed a trading app that allows users to buy and sell stocks, ETFs, options, and even cryptocurrency while slashing commissions charged to $0. They have been seen as empowering users with access to trading options that were previously unavailable. The company has been estimated to be worth about $7.6 B.

    Canalyst – Headquartered in Vancouver, Canalyst provides financial analysis for fintech users. Using their financial expertise and data, they offer forecast models for over 4,000 securities in Canada and the U.S.

    Wealth management/Investing

    SoFi – What began as an app to help students refinance their loan debt has now boasts a full suite of financial products, including an automated investing platform. With the app, novice investors can buy and sell stocks and there is no minimum to get started. SoFi also offers personal loans, mortgages, insurance and banking accounts. It is said to be worth $4.8B with 850,000 users.

    Wealthsimple Invest – The robo-investing platform can be honed to your investment type: Conservative, balanced, or growth. There is no minimum to opening an account and the app offers various investing options including RRSP, RESP, and TFSA. The Toronto-based company also offers Canada’s only $0 commission trading platform, Wealthsimple Trade .

    Payments

    Stripe – Worth about $35B, Stripe offers payment services for online businesses and has also started offering lending services for customers. According to Insider , many large companies like Google, Amazon and Microsoft use Stripe. Interac – One of the biggest and most trusted fintech companies in Canada, Interac allows customers to use their bank cards for in-store payments. The company has been around for over two decades and is seen as an essential service for Canadians. In 2019, Interac logged 486 million transactions, according to the Financial Post .

    The Future of Fintech

    Although fintech was already a robust industry before COVID-19, the global pandemic has rapidly increased consumer fintech services and product adoption.

    As a result, the fintech sector faces a similar future as other markets struggling through the pandemic.

    The popularity of fintech has been rooted in changing consumer behaviour and expectation.

    Customers are no longer patient enough to wait in line at the banks when they can easily access their accounts online to make payments, transfer money, etc.

    Fintech solutions have expanded to help customers access loans and mortgages quickly, and allowing younger investors the opportunity to develop a wealth portfolio and even get into the trading market.

    There is still plenty of room to grow for fintech as in North America the adoption rate sits around the 50 percent mark.

    Like in many other sectors, fintech companies will need to weather the economic disruption caused by COVID-19.

    This could mean a dark short-term future with a brighter one to come in a few years, according to Jim Marous of The Financial Brand .

    He reports that funding for fintech has dropped to 2017 levels .

    Marous notes that retail sales have also dropped, which will negatively impact the payments sector.

    Fintech companies in the lending and banking sector may also have a tough time ahead as customers default on loans and miss payments due to a loss of income.

    However, those in the investing and trading sector of fintech may actually see an uptick, according to Marous’s article.

    Many people who have suffered financial loss due to the pandemic may be looking for ways to build their wealth.

    The ease of use and accessibility of investing and trading apps will be an attraction for these consumers.

    With its flexibility, adaptability, and capability, fintech has the potential to weather the pandemic storm better than other industries.

    As consumers opt for more touchless and digital options to handling their finances, a University of Cambridge report found that fintech companies actually saw an increase in transactions in the first part of 2020.

    However, the report notes that investment into fintech innovation has dropped off since global lockdowns began.

    Yet, there is hope for a strong future as many fintech businesses have responded to COVID by altering their products and services to fit the changing market need.

    Undoubtedly, the industry will continue to capitalize on these benefits as they increase the opportunity and accessibility for everyday people to do more with their money.


    The Sunday Long Read: A Beginner's Guide to Fintech


    The Sunday Long Read: A Beginner's Guide to Fintech

    Chandra Philip-Lye

    Chandra is a former journalist turned content creator with over 15 years of professional experience. Throughout her career, she has worked with a variety of media platforms including print, television and online. You can see more of her work at: http://chandralye.pressfolios.com/

    • De chevron_right

      Tweetstorm: Bitcoin Basics Collection

      pubsub.do.nohost.me / Decentralized Today · Friday, 28 May, 2021 - 23:00 · 2 minutes

    Tweetstorm: Bitcoin Basics Collection

    By @AnilSaidSo

    The technical side of Bitcoin can be intimidating. Luckily you have access to the most skilled teachers. Here are my favorite explainer threads:

    1/ Hash Functions

    2/ Address Generation

    3/ Proof of Work

    4/ Blocks

    5/ Mempool

    6/ Difficulty Adjustment

    7/ Settlement

    8/ Full Nodes


    About the author

    Anil is an independent bitcoin educator based in Canada. He holds an MBA, CBP and was part of MIT's inaugural FinTech certificate cohort. He's guest-lectured at Business schools and launched the first Bitcoin-specific university scholarship in Canada. His focus is on simplifying concepts through visuals and storytelling to make bitcoin easier to comprehend.

    You can follow him on Twitter @anilsaidso

    You can pre-order his book representing approximately 3,000 hours of research, teaching, writing and design in an effort to best communicate Bitcoin as a concept.