WandX-Cross Chain Airdrop for WAND Holders

If I were to point to one blockchain project right now that represented the least risk and the most gain, with a solid team that continues to deliver product on time, I know who I’d pick.

Disclaimer: this is not investment advice. Do your own research. I am long WAND. Continue reading “WandX-Cross Chain Airdrop for WAND Holders”

Augur: Prediction Markets for Everything

Augur-Why an Unstoppable Betting Platform is More than Fun and Games

Perhaps the most important aspect of the Ethereum Virtual Machine is that it is unstoppable: it takes an incredible amount of energy to be taken down[1]. This is a feature that makes it the perfect platform for Augur, a betting platform that allows for betting on anything users choose to bet on. Augur harnesses the innate desire humans have to predict what is going to happen into crowdsourced data. The betting action is also fun: people have gambled for thousands of years. Continue reading “Augur: Prediction Markets for Everything”

Evaluating Crypto Twitter Personalities

What’s more valuable than a tip on an ICO? Knowing who to listen to and who to ignore.
Successful investing in cryptocurrency and blockchain does not require graduate level math, programming skills, or millions of dollars. Savvy market participants know who to pay attention to on Twitter and who to ignore. Stupid ones go broke.
Here are some of my criteria in evaluating a person’s thoughts, in no particular order:

  1. Cui bono? Who benefits? Are they talking their book? When a fund manager has a vested interest in a particular token looking good (because they own it and want it to rise in price), I tend to discount their bullish thoughts on that token, but pay more attention to their criticisms of it. Take extra note if somebody who got in at sub market rates is building their exit strategy by extolling a particular token-just because a VC owns a token, doesn’t mean that they should be trusted as sources of information on it…especially if you’re getting in at 3x (or more) their price.
  2. Conversely, some critics have never used cryptocurrency, and are colored by their desire to see it blow up (and congratulate themselves afterwards for saying, “I told you so”). While critics are necessary, it’s important to ask, “are they framing their criticisms of the token honestly?” The best critics will understand the best arguments for a token and dismantle them one by one. The worst will create straw men to attack.
  3. Does the person have a particular world outlook that colors their perspective? Are they Bitcoin (or Ethereum) maximalists? Do they view investing dogmatically or pragmatically? We should also reflect on how we view investing, as that colors our own thoughts and opinions.
  4. What is the person’s area of expertise? Sometimes, you’ll see an expert in one field mistakenly believe they are an expert in all fields. Run, don’t walk, from these folks.
  5. Assess percentage of certainty. Nobody knows the future. While I am certain of a few things in life (faith, death, taxes), I try to remain uncertain about everything else. A person may know with certainty that the math behind Bitcoin is solid; that doesn’t mean he knows with certainty that the price in USD of Bitcoin is going to go up. Pay attention when somebody speaks of the future with 100% certainty-that’s likely a good BS flag that should go up in your mind.
  6. Is this person selling something? If so, are they transparent about it?
  7. Do people whose opinions I respect think well of this person’s thoughts? This is a trust, but verify sort of thing. Maybe they respect them for the wrong reason, although if a lot of people think well of them, then I’m more likely to pay attention as well.

This list is not exhaustive, but it has helped me evaluate statements made by the wide variety of thinkers (and charlatans) on Twitter. I hope it helps you as well.

Jeff

Interested in optimizing your Steem experience? Do you want to learn more about the Steem blockchain and how Steemit works? Click my logo below for a deep dive on Steem:

Focus on Blockchain Development

Many of us have been interested in blockchain tech for a few years, while others hopped on the train when things got hot (and interesting) this fall. There’s nothing wrong with bull market induced excitement; seeing assets bid up into the stratosphere is awesome when you’re long ETH or BTC (or, as it was, any cryptocurrency).

But irrational bull markets tend to burn out, and here we are five months into a bear market that has newcomers spooked. This was not how it was meant to be.

Here’s the thing about bear markets: it filters out the garbage, and gives you a great opportunity to pay attention to what is actually going on…instead of what is being pumped by con men and hucksters.

Some Projects to Consider

If you’re long on time and short on money, get on Reddit and check out some of the various projects going on in Ethereum. There is a lot going on, with over 600 projects by various startups, including the fascinating Loom Network’s Kickstarter campaign for Zombie Battleground: a collectible card game on the Ethereum network. The animations in the campaign are already pretty awesome, and Loom’s ability to ship code on time is impressive. Loom is hoping to have other games that run on Ethereum sidechains as well; if you’re in the gaming world and want to build a blockchain game, you should check them out.

Another cool project is @decentraland. Decentraland is a sort of Second Life on the Ethereum blockchain, which had a land auction earlier this year and is now open for development. I have a few parcels of land that I bought, which are probably worth a few hundred dollars each right now (land can be bought and sold here), but I’m holding onto them for a bit as Decentraland is being built up by entrepreneurs, gamers, speculators, and hobbyists. I hope to walk through my land someday using a VR headset, and even have some ideas on what to do with the spaces I’ve bought. They are worth following on Steemit as well.

More Blockchains

Beyond Ethereum, the EOS blockchain, while plagued with some early issues, could be a great canvas to develop blockchain games and products on. Block.one is funding projects built on EOS, so if you’re considering a project but don’t want to do an ICO (and I really don’t blame you), you could look for them for funding. I think EOS could have some interesting interactions between gaming platforms that use them…we’ll see.

Beyond Speculation

There are very few times that come along when capital is this available for startups. The dot com bubble was one. This blockchain bubble is another. There’s no need to try and find the best tokens that will “moon”; you’re not going to catch the next Bitcoin at $1 and earn 20,000X returns. It’s ok-it’s enough right now to learn to code, put together a project, and get some funding to try to make your dream project.

What have you go to lose?

Jeff

Interested in optimizing your Steem experience? Do you want to learn more about the Steem blockchain and how Steemit works? Click my logo below for a deep dive on Steem:

Disclaimer: I own MANA (the Decentraland token), ETH and EOS. I am considering buying Loom tokens. This article is not advice saying you should buy tokens; rather you should consider building a business that runs on these tokens.

Coindata: A Better Coinlisting Site

Take a few minutes and head on over to Coindata.vc, where you’ll find some great info that I haven’t seen on other sites like Coinmarketcap or Brave New Coin.

Among one of the features I like the best is that it lists subcoins on a platform. For instance, you can easily compare smart contract platforms like Ethereum to NEO or QTUM, and see how many projects each one actually has.

Note: Ethereum has over 6x as many tokens as all other chains combined (113) ! Network effects matter, people.

You can find some pretty interesting stats when you drill down on Ethereum tokens. For instance, in this screen, you can see stats such as 1h, 24h, and 7 day gain/loss; market cap, trade volume, and more. There’s something for everyone and it’s a good way to compare a lot of tokens quickly.

I’m a big Ethereum fan, partly because I have been following it for nearly 3 years, and partly because it has the most interesting projects in blockchain. Forget the hyped up mega projects for a minute: take a look at Decentraland, a sort of “Second Life, but blockchain”, where users are already buying and selling lands they won in the auction that took place a few months ago, and others are using SDKs to build out their owned land.

Or OpenSea, where you can buy and sell collectibles that are hosted on Ethereum, from Crypto Kitties to Crypto Strikers, and a whole lot more that I’ve never heard of. There are also lots of ways to get free cards, if you look carefully enough.

In fact, there are more collectible tokens/cards on Ethereum than there are tokens on the next highest count blockchain (Waves). o_O

I have no idea what will be the next big thing, what will hang in there as good enough, and what will be forgotten. In the meantime, Coindata.vc is a great way to explore various tokens and quickly see if they’re living up to the hype. I’m also eager to see when SMTs come out, because I think they’ll result in a large number of tokens on the Steem blockchain. Steem Monsters has shown us some of the possibilities on this great platform already!

What sites do you use to get your coin info?

Jeff

Interested in optimizing your Steem experience? Do you want to learn more about the Steem blockchain and how Steemit works? Click my logo below for a deep dive on Steem:

CryptoStrikers-a Collectible Card Series on Ethereum

My two sets of CryptoStrikers cards…

It’s a big week for card games on the blockchain, with Steem Monsters collecting thousands of Steem and now CryptoStrikers being released!

CryptoStrikers is like baseball cards, but blockchain, and soccer/football players. Cards are available now for .025/pack, which includes four cards.

There are also some quite robust trading platforms already available, such as OpenSea, and cards are already listed for sale and trade.

Here’s my favorite feature so far: trading. Here are some pics about how it goes down:

First, I pick the card I want to give.

Next, I select the card I’d like to get in return.

Finally, I click “Create Trade” and then sign it in Metamask.

You can trade this with my by clicking the link here (or the picture itself) if you have MetaMask and Luka Modric.

And now, an affiliate link

If this is something you’re into, you can click my affiliate link before you buy it, and I’ll get a free card. But I’ll admit: at .025 ETH, they’re a bit expensive. I love the idea, and putting collectibles like sports cards on the blockchain is brilliant, but I wonder if the price is a bit steep. It’s about $13/pack of four, whereas Steem Monsters is only $2/pack of five. I found it much easier to spend $10 on five packs than $13 on one, but YMMV…especially if you’re a big football fan.

And regardless if you’re going to buy, do go check it out…your next side hustle (or big break) might be in designing a product similar to this!

Jeff

Interested in optimizing your Steem experience? Do you want to learn more about the Steem blockchain and how Steemit works? Click my logo below for a deep dive on Steem:

Making Money in Crypto (Without Technical Chops)

Have you wanted to make money in cryptocurrency but not had the technical background to do it? I’d like to write to you about some ways to make money that anyone can do.

Steemit

Ok, obviously. Next!

Community Manager

Every ICO or startup has a social media or messenger presence that needs some moderation. This is often done by a part time helper in exchange for tokens. It’s a great way to get to know people, and you definitely don’t need a programmer to do it.

What you need:

Good communication skills

High availability

Basic knowledge of scams

Patience

Friendliness

Product Tester/Breaker

I’m making this job title up, because it is sort of what I do: try out various products and see how well they work. I tried Steem in August of 2016 and got 13 cents; because I was too busy I didn’t come back to the platform for another 10 months.

Things I Tried:

I’ve also used The Viral Exchange to earn some cryptocurrency for Tweeting (I don’t do this anymore) about various crypto. They used to pay out in the tokens of the platform exclusively, but now you usually get paid in TVE tokens, which I’m not interested in. YMMV, so take a look. Stratis was on here giving tokens for people to watch Youtube videos about the product, and I picked up 6 of them once I saw that each token was going for a couple bucks before the promotion ended.

Earn.com is an interesting site that pays users cryptocurrency for completing email tasks. This is definitely not for everyone, although some living in very poor areas may find it worthwhile. You can use my affiliate link and I’ll make a little Bitcoin, and then if you get your friends involved you’ll make some Bitcoin off of them, etc. It costs only your time, so if that is worth more than about $10/hour, skip Earn.com for now (although you can still get a free email account to screen your emails if you want to do that).

Cryptocurrency Bounties

Bounties are rewards offered by ICOs for specific tasks done. These tasks vary from translating the whitepaper into a foreign language to finding bugs in the platform. There are a lot of non technical bounties to be earned. Psst, Steemians, some of the most lucrative bounties involve writing about an ICO. Make sure you aren’t breaking any laws (providing investment advice is a no no in the US unless you are credentialed), but sharing an ICO with your audience doesn’t need to be “BUY NOW and GET RICH!”. You can simply share what a new project is doing in the space. Only pick those projects that you can write honestly about-you don’t want a guilty conscience over a few bucks shilling a token you think is garbage.

The Bitcoin talk forum is worth signing up for as well. Many bounties include using autosignatures on your Bitcoin talk posts that help give them attention.

Attention is the currency Silicon Valley needs. They need you. Don’t forget that.

IRL (In Real Life) Community Manager

If you’re a fan of Meetups, why not begin holding a regular meetup in your area on something you love?

Start with free. Go from there as you expand.

Being the person who can introduce others who are all interested in the same topic is an important role to have. This can lead to serendipity and new opportunities that you don’t expect.

Go, Make Friends, Earn Money!

As you can see, there are plenty of opportunities for entrepreneurs to make some money in cryptocurrency right now, without knowing a lot about coding. If you’re young, consider learning to write code, but that doesn’t need to be your focus. As I’ve shown above, there are plenty of ways to make money in this space. Use what is most unique to you to build a niche that nobody else can fill.

Jeff

Consumer Uses of DGX

If cryptocurrency is going to be used as money, we’re going to need to see some hurdles overcome. The “easy” ones are secure mobile wallets and user adoption.

The hard one is stability. People want a stable unit of currency. There has to be an expectation that the price of it doesn’t change from day to day (or minute to minute in crypto world).

This is why I don’t see $BTC ever becoming a useful currency. It may remain useful for other reasons, but it has no chance of working as a widely adopted currency.

You can view the DGX contract address by clicking the picture above. There are currently 10,000 DGX tokens minted.

$DGX, one the other hand, is an Ethereum blockchain token that I do think has a chance at building an alternative currency system. One DGX token represents one gram of gold (approximately $43 USD), which is held in 100 and 1000 gram bars in a vault in Singapore. The DGX token is divisible, so one could pay for a cup of coffee or a candy bar and pay 0.05 DGX (or less!). 

There are two ways in which I foresee early implementations of an alternative monetary system arising: DGX by itself as money, and DGX collateralized to create $DAI stablecoins. Let’s take a look at both of these options.

Two Early Implementations

The first option, with DGX being used as for payments, is a 21st century twist on a centuries old monetary system. In this system, the only money that is minted is that which is fully backed by gold. In 1901, you could walk into a bank with a couple $20 bills and trade them for gold.

When the government wanted to wage war, it had to borrow money from its citizens to do it. This is why you’ll see World War II reels with “War Bonds” as a major initiative.

The US no longer uses fractional reserve, as we stopped trading gold for dollars in 1972. Since that time, our dollar is now based on faith; it is a belief that $1 today will be $1 tomorrow. We all trust that the Federal Reserve buildings that print dollars will restrain themselves from corruption, overprinting, etc. Cash in the form of USD is artificially limited. We trust that the Chairs of the Federal Reserve are a) competent and b) not corrupt in their management of the economy.

This is pretty scary. Centralizing power in one person like this is extremely dangerous. How do we know none of them have helped themselves in the process? Humans, in the best of times, find ways to rationalize our wrong actions.

This is where the blockchain is quite helpful. With DGX, we can look at the contract address and know how many DGX tokens exist at any given time. Furthermore, we can look deeper and ensure that each gold bar represented by an equivalent amount of tokens actually exists, through an audited, open record trail (Digix Global’s Proof of Provenance). This adds to the trustworthiness of DGX tokens.

Overall, the US monetary system has maintained itself, but people in countries like Venezuela, Zimbabwe, and others have seen their currency wrecked overnight. Even Argentina had a 4:1 Peso:USD implemented overnight. People in these countries might feel more comfortable using a token like DGX instead of their currency. I fully expect a great deal of early adopters in Venezuela.

I’m also excited about DGX being used as part of a basket of commodities in a CDP.

DAI: Borrow Against Your DGX Tokens

CDPs, or Collateralized Debt Positions, can be opened using Maker’s OasisDEX. They work a little like a computerized, self serve pawn shop: you can deposit your Ether tokens, and take out a loan against them. In some ways, it is like taking out a Home Equity Line of Credit (HELOC) to buy a boat or something. You can take out a variable amount of DAI per ETH, with higher amounts exposing you to greater risk. If the price of ETH goes too low, you’ll need to either replace the DAI you took, or add more ETH… or somebody else can close your CDP for a profit (and a 13% loss to you).

If that sounds complicated, you shouldn’t do it. But the result of this operation is the generation of DAI, which is a stablecoin that maintains a peg to the USD. DAI become useful to companies operating on the blockchain who want to avoid rapid price fluctuations.

What does DAI have to do with DGX? Currently, DAI is backed only by ETH, which makes it sensitive to ETH price movements. Those who wish to take a loan out against their ETH need to keep an eye on the price of ETH. The more you borrow, the easier it is for a price drop in ETH to bring your borrowing ratio to the point where somebody can close out your CDP, costing you an instant 13% loss. When DAI 2.0 gets released, it will have multiple non correlated assets in it. This way, when one of the assets in your CDP drops in price, it won’t automatically put you at risk. (Astute readers will have noticed how nearly the entire cryptocurrency market dropped along with Bitcoin this winter; there is very high correlation in crypto at this time).

DGX will be one of these assets. The price of gold does not correlate with ETH (and while gold is somewhat volatile against the USD, it is nowhere near as volatile as ETH or BTC).

In conclusion, you will be able to spend DAI which are backed by a basket of currencies, including DGX gold. To put it another way, you can borrow against gold that you own, without an intermediary. Or, you can use DAI knowing with confidence that it is backed by DGX gold (this will happen in summer 2018; it isn’t the case yet!)

DGX: gold is money again.

Jeff

Disclaimer: DGX transactions go to a rewards pool that is paid out to holders of DGD (a separate token), who vote for and manage the deployment of Ether collected in the Digix crowdsale 2 years ago. I hold DGD, and will benefit from the increased use of DGX.

FOAM: Bridging Ethereum to the Real World

FOAM is a startup on Ethereum that is comprised of three elements:, Crypto Spatial Coordinates (CSCs), the Proof of Location Protocol, and The Spatial Index. Each of these elements work together to provide Ethereum users with a greater ability to interoperate with the physical world.

I wrote about FOAM last year, and since that time, the team has been focused on working every possible angle to ensure the cryptoeconomics of FOAM are just right. Because of the hard work in a pre-release environment, some of the details of my earlier posts will be incorrect…although the big picture stuff, and the ideation of use cases, should still be possible.

This post will focus on these three main elements, and how they interact. Those interested in further details, including the software development side of it, should check out the FOAM Medium blog posts by CEO Ryan J King.

Crypto Spatial Coordinates

The first element is the Crypto Spatial Coordinate. A CSC is created by encoding an Ethereum address with a geohash.

A geohash is a method of showing a location using a string of numbers and letters. For instance, most people are familiar with latitude and longitude coordinates: 50.129 degrees east, -110.301 degrees north shows us how far east and north something is from the Prime Meridian and Equator. These coordinates are used by GPS devices and map programs such as Google Maps.

The geohash differs in that it looks like a random string of letters and numbers (a bit like what recommended “good passwords” should look like). The geohash has some similarity to lat/long coordinate system: the longer it is, the more precise it is, and two locations that are near one another will share many characters, with the least significant digits near the end.

Example

Times Square is 40.758895, -73.9873197 using lat/long coordinates. A hot dog stand on one end of Times Square might have slightly more precise coordinates than one on the other end of Times Square:

The more significant digits in the latitude coordinate remain the same, until the least significant digit, which represents the smallest difference, where we see a change from 9 to 3.

The geohash of Times Square is dr5ru7k. In the case of our hot dog stands, we might see:

Once again, the least significant digit is changed, while the rest remain the same.

CSCs take a geohash and an Ethereum address, then apply some mathematical processes to them, and create a unique identifier for each location that allows it to be interacted with on the Ethereum blockchain.

CSCs will also have the option of being tied to radio beacons, which will provide location validation services. Users can stake FOAM Tokens (FT) in these CSCs, which will create incentives for honest reporting to maximize returns.

In order to expand the capabilities of CSCs, we’re going to use the Proof of Location Protocol and the Spatial Index. Let’s continue to these…

Proof of Location Protocol

The Proof of Location Protocol is the core project of FOAM: a trustless, independent, open, accountable and incentivized protocol that will secure the location data in a way that is not possible with GPS.

To understand why Proof of Location needs a “protocol”, we need to look at the current location system used by devices today: GPS. GPS positioning is a receive only function on devices, which calculate the distance from at least 3 satellites (due to clock signal delays) in orbit around the earth.

 

GPS is incredibly easy to spoof, as witnessed by a quick Google search. This was especially abused by Pokemon Go players to reach hard to find Pokemon not generally in their geographical area. Cheaters were punished, if caught, but it’s pretty obvious that if incentives as trivial as video game monster collection will cause cheating, implementing blockchains into location finding will be a huge target.

The Proof of Location Protocol is designed to incentivize honest reporters of location data. Just as Bitcoin’s Proof of Work Protocol solved the Byzantine General problem for securing a ledger across untrusted random actors, FOAM’s Proof of Location Protocol is designed to secure location reporting from untrusted random actors. In other words, if the incentives align for people to report honestly (ie, they make more money being honest, and lose money for lying), one needs only to trust the protocol, and then implicitly trusts each radio beacon en masse…rather than having to trust each single one in particular. To compare it to Bitcoin again, we never think about whether we can trust one particular mining rig, as each is running the Bitcoin program, which is tested 24/7.

This protocol also incentivizes people to report more by placing more radio beacons to do more reporting. According to a [recent podcast on Epicenter], beacons placed in areas where they are the only beacon will mine FOAM tokens, creating the incentive for people to cover as many square miles as possible. For FOAM to work properly, as a base layer of authentication services, the tech needs to be ubiquitous. The Proof of Location Protocol will help make that a reality.

The Spatial Index

The Spatial Index is a “general purpose visual blockchain explorer” in which one can discover where CSCs are placed and active on a map. Described as the cross between Google Maps and a Bloomberg Terminal, the Spatial Index allows users to visualize the information that is being presented by FOAM.

The Spatial Index also allows users to create and deploy CSCs as smart contracts.

The Spatial Index is much more than a graphical user interface for CSCs, however. In the long run, the Spatial Index will allow third party developers the ability to hook into the FOAM ecosystem and develop their own applications and uses on top of it. Imagine-the next Pokemon Go sensation could be run on the Ethereum blockchain, using the Spatial Index as a backend for trustless information. You could collect rare Cryptokitties by visiting certain locations (coffee shops, pay attention!). A secure location system could also work as the backbone for a fleet of driverless cars. Since the Proof of Location Protocol and the Spatial Index are open sourced, anyone can develop on top of them, without having to ask permission.

Both enterprises and solo developers will be able to develop decentralized applications-dapps-on top of the FOAM ecosystem. This is the power of open development-FOAM creates the incentive system (Proof of Location Protocol) that promotes the placement of millions of radio beacons, and entrepreneurs find ways to utilize this in dapps that will make life better for people around the world.

The Vision

FOAM’s vision is to be the provider of location information for the blockchain, and we not only get to watch it happen in real time, but we can be a part of it as well. You can join them on Reddit or Telegram and find out how to get involved, which includes a lot more community involvement than most blockchain projects. I also highly recommend listening to FOAM’s CEO, Ryan King, talk on Epicenter about his vision, as they ask a lot of deep questions that will help you better understand this revolutionary project.

Also, if you want to read more about FOAM, you can check out the four articles I wrote in 2017, located on my website. Questions? Ask below or visit the Telegram channel!

Disclaimer: I am working with FOAM to produce these articles. My opinions remain my own. The above is for information purposes and should not be viewed as investment advice.

Jeff

Privacy Coin Forks and Hacks

Verge got hacked! Yesterday, somebody found a way to attack the Verge blockchain, and spent at least 13 hours mining one block per second. As the maximalists say, “this is good for Bitcoin”.

Verge belongs to a group of tokens that seem excessively overvalued to me. I owned a little for a month or so before I realized I hated the wallet and felt my money was better put towards a more serious project. I missed the huge pump (about two weeks after I sold, natch). Such is the life of a cryptocurrency enthusiast.

My takeaway (which I say at risk of ending up on r/buttcoin…again…) is that was a good thing.

Why?

Because we need to discover which systems actually work and which don’t. That’s much better now with a total cryptocurrency market cap below $300 billion than when it is 10 or 20 times that, and major business is done on the blockchain.

Monero Fork

Apparently the Monero fork to prevent ASICS from dominating hash power resulted in four competing projects. It’s probably best to avoid touching any of these new chains unless you know how to move your coins without being susceptible to a replay attack on the main chain. In case you’ve never heard that term, the concept is this: let’s say you want to sell those “extra” tokens that you got because of a fork. If you make a mistake, your main chain coins are at risk for being stolen by somebody with not a lot of work. I’m not exactly sure how it would work on the Monero chain, since transactions are shielded, but “wait and see” is the best attitude.

If you absolutely must sell your forked Monero coins, realize you may lose everything if you screw it up.

Other Minority Positions

Many Steemians are (rightfully) angry about certain posters who shamelessly upvote their own posts, often making thousands of dollars a day in rewards that violate the spirit, if not the letter, of the Steem blockchain. Are they stealing? Not exactly…but they do lower the value of rewards to the rest of us…even if individual losses are in the order of pennies.

Some have called for these people to be blocked by the witnesses. I tend to disagree with this. I look at these self promoters as canaries in the Steem goldmine; if we believe that censorship resistance is good (with the obvious caveats against breaking the law), then these sorts of people should be ridiculed, but not censored on the blockchain.

It’s a fact that there are those who will outright abuse any system they’re a part of. Decentralized blockchains try to address this, but it’s impossible to avoid it. Human beings are sinful creatures who are going to act irrationally (in an economic sense) at times. The best tonic to this is to create strong communities based on similar values, which becomes an analog to city states created in ancient times that were designed to protect from bandits and invaders.

Yes-Steem communities are the prototypes of internet city states. We’ll see how this unwinds over the next few years/decades, but I expect this all to be far more interesting than any of our wildest imaginations.

-Jeff

Check out my book for more information on cryptocurrency trading. Free for Amazon Unlimited readers!