Following on from my last article, and thanks to my fav crypto guy, who opines that the governments are at the gates of Troy with their Trojan Horse and they have got a gift of goodwill for all of us. It's a Central Bank Digital currency that you think will help make your daily spending that much more efficient. However, hidden inside these CBDCs is a financial surveillance mechanism that you cannot comprehend.
This is all particularly relevant now in light of the recent launch of the eYuan CBDC by the Chinese government. This will allow the Chinese government to precisely monitor what its citizens are buying with the currency. They can see where the money is being sent. A “centralized cryptocurrency” is a BINO (Blockchain in Name Only) that could link up to their social credit database.
There is no doubt that the government's end goal is to replace cash with this centralized digital currency. Cash remains the only remaining method by which people can privately spend. Well, that and decentralized cryptocurrency.
For this reason, the Chinese government has decided to take a more rigid stance against cryptocurrency. They know that it allows people to circumvent CBDCs, and it is naturally the first to be placed in the firing line. This ploy was orchestrated and is indicative of the state of privacy in the world right now.
What is even more alarming about this is that the Chinese don't appear to be alone in their quest for CBDC dominance. Sweden has begun trialing several CBDC alternatives for its eKrona. For those who don't know, Sweden is one of the most cashless societies out there.
Indeed, cash use globally has tanked due to the Pandemic, which has given numerous other countries a reason to eventually limit its circulation and move to more centralized payment mechanisms. In the case of Sweden, the eKrona is the next logical step.
The folks at the European Central Bank are also languishing at the prospect of a digital Euro. They are highly interested in the idea and have even published a paper to explain how they envision the Digital Euro to look.
The head of the ECB has also said that they plan to hopefully roll out this digital Euro within the next four years. This is the same ECB head who was simultaneously throwing FUD at Bitcoin a few months ago.
Also, the Bank of England could be looking at launching the UK's equivalent of a CBDC. And, true to form, we also have the comments coming from the governor of the BoE on how dangerous crypto is.
Are you noticing a pattern here?
And, of course, the overlords at the Fed are not sitting on the sidelines either. Jerome Powell has stated that the Fed is advancing work on a dollar-based digital currency. There is apparently pressure from within congress to advance potential digital dollars in the US.
Even in my own backyard here in Australia, the Reserve Bank (RBA) is in an initial research phase, but say we can expect CBDCs will eventually play a key role in the financial services ecosystem.
As mentioned in this Fintech article, there is an increasing interest by Aussies in Bitcoin and other cryptocurrencies incited by the pandemic with heightened use of digital payment systems is putting pressure on central banks to research into CBDCs.
However, let’s be clear, a centralized CBDC will be nothing like the decentralized crypto we know and love, giving us hope for a better economic future including privacy, autonomy, freedom, and self-sovereignty.
“Digital Currency” according to the CBDC definition is very different from “Crypto Currency” which is a virtual currency that uses cryptography to secure and verify transactions as well as manage the creation of new currency units ideally in a decentralized fashion.
There are, of course, many other central banks around the world that are looking into these. They are also collaborating and sharing ideas about how they could implement such technology. You need to look no further than this report by the BIS, which was worked on seven different central banks.
Our Saving Grace
This is further evidence that open-source and decentralized cryptocurrency is vital in today's day and age. Not only is it helping people in economically oppressed nations, but it could also be a saving grace in an increasingly centralized and dystopian world.
From a trading point of view and also fuelled by it, cryptocurrency is volatile. Also, adoption is considered slow, but really, look how long it took for society to accept plastic cards back in the day and they had their fair share of obstacles, security, and interoperability issues.
There are many challenges the crypto industry needs to overcome, but it is happening with the likes of dedicated people in the space. I'll go as far as to say no technology is perfect, but I would far rather use an imperfect technology that I have a hand in shaping and defining than a supposedly perfect one imposed on me by a central bank.
Don’t Be A Victim Of FUD
Another thing that might be on your mind is the news we keep seeing about cryptocurrencies from the media. Sometimes the information is positive, but lately, it's been quite negative. Whether it's China cracking down on crypto, or some "expert" saying that cryptocurrency will crash, there's always something somewhere you can find to feel the FUD (Fear, Uncertainty, Doubt).
When you find yourself obsessing over what the media is saying, ask yourself this: Are the fundamentals still there? More often than not, the answer is yes. Bitcoin has been declared dead over 416 times, and China has banned it a total of 5 times. It's a bit like the "boy who cried wolf" and something to consider when FUD infiltrates your logic.
It's almost like someone is trying to play with your emotions to trick you into selling. There is perhaps some truth to this idea. You can learn about that truth by watching the video below. Something that was around long before crypto.
The Industry Is Much More Than Markets
Instead of thinking outside the box, imagine there is no box. I keep the FUD far away by researching new and existing crypto projects. This is an excellent reminder of what the bigger purpose and value of cryptocurrencies are.
Like the blockchain, crypto projects such as Markethive and Cardano where it's about a brighter future of financial sovereignty and autonomy for humanity. People are waking up and starting to opt-out of the legacy financial system, and centralized social media as they recognize it for what it is. It's a negative to the human race.
Markethive and Cardano are building something better, building unique engines that can process billions of transactions, creating self-sustainable ecosystems in social media, marketing, and decentralized finance.
They have designed a different system for the world that's better than what we have right now and is more inclusive. We have a system where we're all treated equally and fairly and where we have access to opportunity, no matter where we're from because people deserve that.
We need to recognize that this industry is about systems at its core. It's about redesigning how the money in your pocket works and redesigning the way you express yourself and relate to others.
So it's about the social finance component, the expression side, the communication side, the privacy side of things, and how you choose to live your economic life; it's about giving you back your economic identity.
Researching and acquiring this knowledge helps me gain wisdom in all areas of my life. The crypto market ebbs and flows, but the knowledge you will gain from doing research is permanent.
Written by Deb Williams
Chief Editor and writer for Markethive.com, the social, market, broadcasting network. An avid supporter of blockchain technology and cryptocurrency. I thrive on progress and champion freedom of speech and sovereignty. I embrace "Change" with a passion, and my purpose in life is to enlighten people en masse, accept and move forward with enthusiasm.
By now, most of us have heard of the great reset driven by Klaus Schwab of the World Economic Forum. Some are all for it, thinking it’s time to build a fairer society and press the reset button on capitalism. Many are ambivalent towards the idea or think it’s just a conspiracy theory.
Well, according to Klaus and the WEF, they have us covered with a master plan. Even better, it has the backing of some pretty high-profile organizations like the IMF and the European Central Bank. Here's the big question. Do these global elites really have our best interests at heart?
It could well be that the so-called utopian idea of a great reset is not all that it appears to be, and possibly be the greatest assault on our freedom we've ever seen. We see news headlines about the Central Banks conducting research with issuing their own Digital Currencies.
Is it too farfetched to suggest that the global Elites will use the Central Bank Digital Currencies (CBDCs.pdf) to gain even more control over us all? Are we entering into a dystopian Orwellian reality? How can we keep our entrepreneurial spirit and financial freedom from being oppressed or even confiscated?
Haven’t Heard Of The Great Reset Yet?
It's a vision for how the world should progress going forward by the World Economic Forum. The WEF is a non-governmental organization claiming to have the sole mission of “improving the state of the World by engaging business, political academic and other leaders in society to shape global, regional, and industry agendas.” So you could say it's kind of like a super-exclusive private member's club for the world's leaders and titans of industry.
Klaus Schwab, the founder of WEF, has been planning and writing about the concept of the great reset over many years. The last 18 months have been a very stressful time for us all as we’ve been on the receiving end of a pandemic. While we’ve been hoarding supplies, staying at home, wondering when and if things will ever get back to normal, Klaus was busy sharing his thoughts on this great reset and telling everyone how the pandemic represented a rare opportunity to reset the world.
Three Main Components
According to Klaus, there are three main components to his great reset idea. The first is all about steering the market towards fairer outcomes and creating a stakeholder economy. He also acknowledges that governments are incentivized to do that due to astronomical levels of public debt. He then states that this could all be done via wealth, taxes, encouraging green energy, and disrupting things like trade and competition. In other words, it would seem that he wants wealth distribution through taxation and regulation.
Also, the wording is questionable; steering the market seems to indicate a top-down approach as if we mere peasants need to be told exactly what to do by our superiors. Now I'm a staunch advocate for equal opportunity; however, “equality in outcomes” sounds very similar to communism.
Klaus’s second essential component for the great reset is all about how large-scale spending programs by governments represent a significant opportunity for progress. However, instead of plowing that money into the old system, he argues that the government should just break the wheel instead and should be done by creating an entirely new system, which he believes is more equitable and sustainable in the long run.
Klaus tells us that environmental, social, and governance metrics should be prioritized, and that does sound all well and good, warm and fuzzy at face value. However, the government doesn't own anything. Isn’t it true that anything the government has is taken from the private sector in the form of taxes?
Also, what’s being called for is essentially enforcing global standards, which task forces would impose. Controlling every aspect of our lives and being regulated to the hilt, which is not something we are used to or want, would you agree?
The last piece of the great reset puzzle is essentially about leveraging technology to further the public good. Could Klaus and his cohorts be planning to go along the same path as China's controversial social credit system? That was introduced under the guise of promoting public good by penalizing those that the government had deemed to have misbehaved, and with their extensive surveillance systems, they can track you and know your every move daily.
We could all be forgiven if we look at all the components that supposedly make up the great reset, and only see a new system of control for a global Elite. We are all painfully aware that the current system has been very efficient at enslaving much of humanity through debt. However, the emerging technology of the fourth industrial revolution may mean that this arguable new system is very conceivable.
But here is the all-important question. Do you really think that central banks and governments would tell us about the failings of the old system; and then say, let's transition us all over to a new system, where we will get greater control over you?
This is where the old saying comes in, and it is very appropriate right now, and that is, “never let a good crisis go to waste.” That crisis is covid-19, which is a very convenient excuse to crush the old system and bring in this new one.
Shaping Economic Recovery
At the end of Klaus Schwab’s article on the great reset, a detailed graphic with seven key points makes up this great reset. These cover every sector and can be interpreted in many different ways. He mentions designing social contracts, skills, and jobs, which begs the question, can we as an individual reject this, or will it be enforced on all of us carte blanche.
Then there’s the shaping of the economic recovery, which sounds good; however, here's another question; who precisely is shaping it?
Is it a coincidence that numerous central banks are looking into implementing CBDCs, with some already running pilot projects of their own form of Central Bank Digital Currencies? CBDCs are a new Financial infrastructure and provide the perfect method for an entirely new and upgraded form of financial control.
Klaus also speaks of the fourth Industrial Revolution, an embellished way of saying technological progress and involves things like machine learning, big data, the internet of things, and blockchain. Also, pervasive mobile supercomputing, intelligent robots, self-driving cars, neuro-technological brain enhancements, and genetic editing are becoming a reality.
Equality Of Outcomes
The key takeaway from this is that Klaus and his buddies are looking to move towards “equality of outcomes,” which sets off alarm bells given the World Economic Forum tweeted out that “by 2030 you will own nothing and you will be happy.”
Also, would the equality of outcomes remove the incentive for individual effort and aspirations or reward personal risk? Systemic inequality exists, but humanitarian tech companies are already looking to reduce this in emerging countries as well as in first-world cultures and further the individual’s financial freedom and autonomy.
The top-down approach of the great reset gives rise to the danger of populists and demagogues using that rhetoric as a disguise for their own goals. Think Hugo Chavez and Maduro of Venezuela.
Food For Thought
The desire to improve our own position in life and that of our family motivates productivity and progress. We all want a better life for our children, right? The pursuit of this goal is what drives us. During this pandemic, we've already seen lower productivity levels in the economy seen through GDP falling off a cliff at the end of 2020.
We’ve had stimulus payouts to help pay the rent and put food on the table, but at what point does it trap people in stagnation? Suppose we have businesses that are zombie companies and only operating due to government handouts. In that case, that comes at the price of future taxation or inflation and most likely a lower standard of living.
These stimulus measures cannot continue to be handed out ad infinitum. If they do, we will have severe side-effects like pervasive inflation. The idea of regulating people seems soul-destroying. Isn't it better for people to pursue economic productivity by and for themselves? Indeed it's more efficient to incentivize entrepreneurs to take risks to satisfy the needs and wants of society.
Those who reject the idea of entrepreneurial freedom may say entrepreneurs are self-indulgent and greedy; we need some government officials to control them for the greater good of society.
But hey, is political self-interest really more benevolent than economic self-interest? I tend to think the only thing that will happen from this great reset is a lot more cronyism, more power for corporations, and significantly less personal freedom, for the people.
What's the driving force behind the great reset in 2020?
We know the financial state of governments from 2020 with its crippling National debts is due to covid-driven public spending. All those stimulus checks need to be paid for somehow.
Those sky-high national debt levels are pretty worrisome for politicians, and so it follows that they meet with Klaus and his gang at the World Economic Forum. In fact, the WEF has been meeting with governments for decades. Chances are the governments know Klaus pretty well, and they all want to help each other out of the mess they’re in. (a form of cronyism)
The great reset is looking like nothing more than a blueprint for global elites to seize more control through increased taxation, regulation, and power. The tax has already been rising in the US without anyone really noticing it. Also, stealth taxation has been around for a while now, but it's not enough to cover the unsustainable government debt levels.
So what now? Are CBDCs A Thing?
About 70% of the world's central banks are researching Central Bank Digital Currencies. There’s the Fed, the Chinese, Sweden, Cambodia, Brazil, and many others in various stages of launching their own CBDCs.
CBDCs powered by blockchain tech are indeed more efficient than traditional payment systems. They also make it easier to deploy monetary policy and allow central banks to cut out commercial banks. These could be considered quite valid reasons to roll out and use a CBDC.
Scenarios That Could Become A Reality
However, the technology of a CBDC does leave a Central bank plenty of questionable options. One option is to ban cash and force everyone in the country to use the central bank's digital currency instead. Possibly, the Central Bank might decide that every time a transaction happens, there is economic activity that needs to be taxed.
So there could be logistic rules integrated, requiring that if there is a CBDC transaction made, 20% of that transaction automatically goes to the government in tax. Essentially, tax collection could be made very efficient through automation.
CBDCs also give governments the power to literally freeze, make your money vanish, or redistribute your cash in a way they think is fair at the push of a button. So if anyone steps out of line or does something that the government doesn't like, they could make life very difficult.
Control of money like this could also mean that a government could tell where you've been by looking at your spending habits and even punish you for using your own money for something the government deems inappropriate.
The big problem faced by World governments this year is the vast amounts of national debt that have racked up throughout the pandemic. And guess what? CBDCs can solve that issue too.
So how could they get rid of that debt?
They could opt for a stagflation strategy by inflating it away and paying that debt back using currency with a significantly reduced purchasing power. That seems like the way the government will go when you consider the other option is defaulting.
But here's the problem. A government with crippling national debt, resorts to negative interest rates as seen by Japan and Europe. Even crazy amounts of quantitative easing have not been enough to get inflation to the level that's needed to reduce the debt load.
Basically, to get the insane levels of inflation needed to reduce government debt, you need to increase the M2 money supply and increase the velocity of money. After all, if you increase the number of times money is transacted, you can collect more tax.
So, how could they do that?
How about introducing Universal Basic Income? (UBI) The brilliant thing about this strategy is that you can avoid archaic methods like quantitative easing, which simply inflate assets like the stock market and don’t necessarily increase inflation in the real economy.
CBDCs would enable governments to roll out UBI very quickly and increase that money supply. They could also ban cash, and a government might say, everyone gets $2,000 in UBI every month, and that's payable in the government's CBDC. All you need to do is download the official government app, and if you don't spend it in a fixed time frame, then the money vanishes into thin air.
That means no one can save their money, and they're incentivized to spend it fast. That's good news for increasing the velocity of money to get that extra tax income. The really genius thing about CBDCs is that governments don't need to issue debt to create money. If you can allocate money without issuing debt, then guess what? Your debt never goes up.
Then if they really want to boost inflation, they can shrink the supply of goods and services in an economy. A way of doing that is deglobalization and is where nations turn inward for fear of being dependent on other countries, thereby protecting their domestic economic sovereignty.
Another thing a government can do is pay people more money in UBI than they would earn by going to work, which creates a disincentive to work that produces goods and services, therefore shrinking the supply. This creates a situation where you have an increased money supply, chasing a smaller amount of goods and services, which leads to more inflation.
So, how do you deglobalize and raise unemployment without it being political suicide? Well, the government seems to have been doing just that throughout the pandemic. So yes, it looks very much like Klaus Schwab and his mates have not wasted this pandemic. They're pushing the concept of the great reset to reduce government debt and gain more control over populations through the rollout of CBDCs.
I pray these scenarios and what they could mean for us all never come to fruition. However, what is certain is the global wealth inequality, and covid-induced government debt loads are a real problem, with the massive rollout of CBDCs on the horizon.
It’s scary how global elites could leverage this new tool to serve their own agendas and impose a whole new system of financial control upon us. If all this becomes a reality, would you consider this to be the biggest assault on our freedom and privacy?
Guy at Coin Bureau shares his thoughts on CBDCs
Time To Prepare
However, all is not lost, and we do have a way to protect ourselves against this threat. It’s called decentralized cryptocurrency, and the rival future tech giants are doing everything to preserve and ensure we sustain our freedom and financial sovereignty. To keep entrepreneurialism alive and continue to prosper and grow in this increasingly uncertain world.
The social media and tech oligarchs have been under scrutiny, and the landscape is precarious at best. Things are slowly changing, and the lifesavers of livelihoods are about to rise up in what I consider as Divine timing with technology that leaves the established platforms way behind the eight ball.
So hold your crypto,learn more about the state of the economy and how cryptocurrency can be the solution, and prepare by joining us at Markethive, the complete ecosystem for entrepreneurs. It is a sanctuary that gives you autonomy, privacy, freedom, and the ability to accumulate and earn a sovereign income.
Markethive is a blockchain-driven, decentralized social media, inbound marketing, broadcasting network that has somewhat turned inward, protecting its sovereignty and the sovereignty of the people in the culture, but still able to reach out to the whole world aligning with the many other platforms. It is the way of the future in working and socializing online, especially if you want to protect yourself from the global elites.
Special thanks to Guy at Coin Bureau for his insights
Written by Deb Williams
Chief Editor and writer for Markethive.com, the social, market, broadcasting network. An avid supporter of blockchain technology and cryptocurrency. I thrive on progress and champion freedom of speech and sovereignty. I embrace "Change" with a passion, and my purpose in life is to enlighten people en masse, accept and move forward with enthusiasm.
WHAT ARE THE MOST COMMON MISTAKES CRYPTO USERS MAKE?
Are you new to crypto? Or have you been blindly dabbling in the crypto market, getting caught up in hype or FOMO, and not understanding the pitfalls? We’ve all experienced some form of loss, be it falling for a scam or even something as fundamental as entering the wrong address in a crypto transaction.
We can be forgiven for any type of mistake or misguided decision we may have fallen victim to; after all, it is a relatively new industry. But the crypto landscape has now got twelve years of experience under its belt, pundits and enthusiasts have learned (albeit the hard way for some), and the industry has evolved.
According to the Coin Bureau Guy, known for his research and impartial tutorials of all things crypto, including the traps and snags of the cryptocurrency world, for the purpose of this article, I have chosen eight of the most common and catastrophic mistakes the majority of crypto users tend to make. These mistakes are easy to avoid if only you know about them.
Everyone who “gets it” envisions crypto as the next sovereign financial operating system, and Markethive and Cardano, are on a mission to do just that. The way it is now, the objective of many users in crypto is to make money and improve their financial situation. That is a great objective and one we all have; however, it isn’t a plan or strategy.
A strategy is vital as it will keep you informed about your investing decisions in a relatively consistent and pre-programmed way. Two of the main approaches to consider are either Trading which requires some technical analysis and knowledge of the markets. It curbs you from making quick and sometimes emotional decisions when trading particular coins. The other is Hodling;
More often, newbies starting out prefer to hold their crypto in a safe wallet. Hodling your chosen crypto will set you up for more long-term gains. Deviating from well-thought-out plans most often result in loss and heartbreak, as confusing changes can make it more challenging to know why your investments are not going according to plan.
2 – Choosing The Wrong Exchange
So many have lost all their funds by simply choosing an exchange which turned out to be a scam. As the crypto market is still deemed the wild west, there are 100s of new exchanges springing up, with some having very questionable business practices.
There are many legitimate exchanges out there, and a little research to find a safe and trustworthy exchange is needed and will pay off in the long run.
It is becoming more apparent that the paid ads on crypto new sites are not impartial. Checking the forums at Reddit or BitcoinTalk can be an excellent way to see if there are worrisome trends regarding an exchange.
You need to make sure the exchange has the coins or tokens you want to trade. You can find this information on either CoinMarketCap or CoinGecko. They are all easily verifiable on these sites. Also, verify that the exchange allows your country’s currency.
Another thing to consider is if the exchange has restrictive policies for withdrawal procedures and if the interface is user-friendly. And watch out for those fees – From the trading fees to the deposit and withdrawal fees, they can vary and be quite expensive and certainly add up over time.
3 – Not Securely Storing Your Crypto
There are many stories with unfortunate outcomes simply because crypto newbies chose to hodl and store all their coins on an exchange. It’s been notoriously easy to hack an exchange resulting in enormous losses for the exchange and customers.
Having a small amount in an exchange is ok, but for people with large portfolios, hardware wallets are recommended and are the safest way to keep your coins from remote attacks by hackers. This is predominantly for crypto enthusiasts who want to hodl their diverse range of altcoins and, of course, for the Bitcoin pioneers that were smart enough to gather their BTC all those years ago.
Crypto projects built on their own blockchain will have their own wallet apps, which can be considered safe to Hodl and transact. Like ADA on the Cardano Blockchain, ERC20 on the Ethereum Blockchain, and Hivecoin on the Markethive Blockchain. Another big plus for hodlers is that staking is also available via these apps.
4 – Not Keeping Backups For Wallets And Exchanges
How many times have you read news about some poor fellow losing his passwords to his wallet and can’t access their Bitcoin fortune?
It’s crucial to make regular backups of all your seed words on paper. You will also want to make sure that you have backups of exchange passwords and two-factor authentication seeds.
Are you aware that when activating your two-factor authentication, there is a backup code to reset your two-factor connection if you lose your phone? The only other way to reconnect to a new phone is a complicated and arduous verification process through the exchange.
So be sure to write down all the codes and phrases in the order they are given to you, and keep them hidden in a safe location. (Don't be like me and forget where you put them :D) Some have even opted to store them in a safe deposit box, especially those with large portfolios.
5 – Sending Funds To Wrong Address
Sending crypto to a crypto exchange on an unsupported blockchain is one of the most common mistakes. Too many newbies send funds to the wrong address as they do not check whether that particular crypto is listed on the exchange.
You always need to make sure that you are sending that crypto to the correctly supported chain. There are also distinct differences in the address of the various cryptocurrencies. Once the funds have been sent to the address, it cannot be recovered in most cases.
For example, Ethereum: prefix is 0x32Be3, and Bitcoin: begins with the number 1, 3, or bc1.
Cardano has three types of addresses – Icarus-style: Starts with Ae2, Daedalus-style: Starts with DdzFF, and the Shelly Era begins with addr1. Notably, Daedalus shows an error message if you input an address that is not valid (for instance, when using an address from a different network.)
It is advised to make a test transaction with a smaller amount to ensure that all is working correctly and that it is being picked up on the other end.
6 – Telling People or The Whole World
Don't tell people how much crypto you hold and that you are invested in crypto. Also, don’t disclose the name of your wallet or where you have your hard wallet stored. There have also been cases of people asking for help on forums revealing their worth.
Many brag about their good fortune showing screenshots of their wallet balances on social media. It’s surprising how much information can be gleaned from your social media profiles by potential scammers.
Not a good idea – No one needs to know how much you have or where you have it, and when you do this, you open yourself up to a robbery or worse. Have you ever heard of the $5 wrench attack? That’s just one and very real way they can get to you, up close and personal.
7 – Falling For a Scam
The most common mistake of them all is falling for a scam. We’ve all been there. But despite how far the crypto industry has evolved, there are still many scams infesting the crypto space. They range from Ponzi schemes to giveaways, pump and dumps to phishing attacks, and that’s another whole other article which I haven't written yet, or you can cut to the chase and watch this.
Some are blatant and can be spotted easily; others are more subtle and can be very convincing. Like everything else, scammers are evolving and adapting and have even conned people who think they have a handle on these scams and are immune to them.
All these scams follow are similar modus operandi. They all appeal to either greed or your fear and expect you to make a quick decision without thinking things through, and of course, there will always be newbies that are oblivious or walk around with rose-colored glasses that will be ripe for the picking.
That is why the next section on DOYR is so critical to your crypto journey.
8 – Not Doing Your Own Research (DYOR)
Not DYOR is one of the most fundamental pitfalls people tend to make and the most underrated investment edge. Most rely on tips from others which can lead to disastrous results. DYOR enables you to take ownership over your investment decisions, and just maybe, you will uncover those hidden gems quietly coming up through the ranks. It also improves your long-term education in the crypto landscape.
Watching interviews with the founders and CEOs of a cryptocurrency project is an excellent way to understand and measure its potential. Also, reading a company’s blog is usually sufficient to get a sense of being true to its word, transparency, and where the project is headed. Checking out the white paper and road map to see if milestones are being met is also a must.
What To Look For In A Cryptocurrency Project
To be considered a sound investment, a cryptocurrency must have the following criteria;
The project has a real-world use case or one that solves a real-world problem.
The use case is easy for the average person to understand and see where the value is.
The project has a functioning product that has seen decent adoption.
Also, the market cap of at least a few hundred million dollars with good exchange support and ample trading volume once a coin is listed on reputable exchanges. Be mindful, however, that the coins in circulation are distributed across the community, and not held by the founders or a few large investors only. This is generally a red flag.
Notably, given the various utility and technological advancements of Smart contract coins, they are an extremely viable prospect going forward.
What To Be Wary Of
Tread carefully with coins that have no purpose for utility. Dogecoin, for example, was created out of a meme as a joke by two guys, Billy Markus and Jackson Palmer. They used a guide they found online on how to clone scrypt based altcoins for fun and profit.
“The original intent was a parody of all the serious clone coins that were trying so hard to differentiate themselves, but all seemed the same”, Marcus said. He added that it is one of the most volatile assets on the market.
Community is integral to a project, and although the community has grown with Dogecoin, it seems the main thrust is the novelty and the power of social media and endorsements. Having no genuine use-case gives rise to pump and dumps and chronic manipulation.
Elon Musk, a recent Doge fan, advocating and tweeting about the clone coin, resulted in a parabolic shift in the price. Since the SNL parody featuring Elon Musk, the coin tanked, revealing the volatility and manipulation whales and celebrities can invoke.
Charles Hoskinson, CEO of Cardano, spoke about Doge in a recent video and his concerns for legalities and enforcement that can negatively affect the crypto industry due to market mania.
One of the founders of Dogecoin, Jackson Palmer, left the project, citing his concerns about the space being overrun by opportunists looking to make a buck rather than people investing in evolving the technology.
The Bigger Picture
It’s crucial to take a step back and look at the bigger picture. The cryptocurrency market is still relatively new and has a lot of growth to come. Most of us have missed the Bitcoin bullet train of ten years ago, but there are gems out there going the extra mile, staying a step ahead and constantly evolving with emerging technology, addressing real-world issues that will give you a good return on your investment and make a sustainable, long-standing difference in the global economy.
Not just for the fun of it, but for the good and well-being of all humanity and securing a sustainable and prosperous future.
*The information contained in this article is for informational purposes only. It is not financial or legal advice of any kind.
Written by Deb Williams
Chief Editor and writer for Markethive.com, the social, market, broadcasting network. An avid supporter of blockchain technology and cryptocurrency. I thrive on progress and champion freedom of speech and sovereignty. I embrace "Change" with a passion, and my purpose in life is to enlighten people en masse, accept and move forward with enthusiasm.
How To Leverage Your Profile, Bio, And Social Networks For Optimum Results
The Multi-Dimensional Communication Hub
Personal Branding For You and Your Business
Profile Page And Bio – How Does It Benefit You?
Your profile and Bio page is the place to start upon joining Markethive and a perfect way to introduce and brand yourself. It is a multi-dimensional Communication Hub, where you access your blog posts, groups, videos, and tracking statistics. It also displays your badges and hive rank achievements, and your friends are all central to your profile.
On a side note, there is no limit to the size of your friends' database. In other words, you can have an unlimited number of friends, unlike other social networks where they are capped at 5000.
Your profile page settings are where you access your Social network connectivity hub, Hive Rank statistics, The Vault, Banner Advertising, and very important, where you create and edit your Bio.
Your profile can be public, meaning everyone can view it. Also, when someone goes to your profile page, your BIO page is what they land on first, providing you have created one. They can then navigate to your “Recent Activity” page to see what you’re posting.
Many websites have an “about me” page which is considered crucial for visitors to learn about them and decide whether they want to engage. It is one of the most visited pages on a site, so your Bio page can be regarded as your About Me page and is an excellent way to brand yourself and your product or service.
A good Bio (About Me) page will serve your readers as well as your business.
It establishes trust and leads to whether a person wants to further a relationship with you.
What Do You Write About In Your Bio?
Many find it challenging to write about themselves but hey, throw caution to the wind and just do it. Keep it simple, friendly, straightforward. You can even add a little humor if that’s your thing. Write about your experience, include credentials and accolades, why are you here, what are you passionate about?
What do readers find interesting? Usually themselves, and things that benefit them, so it’s not all about you; Sure, Markethive is a social network, but it’s also an inbound marketing platform and the perfect place to showcase your business. So;
Present what you’ve got
Explain what it will do for your visitors
How they can take the next step to get more from you
It’s an opportunity to show them why they will benefit from choosing you and learn more about you.
Your content should reflect the unique value you offer within the Markethive environment and the products or services you offer.
The Bio page is not limited, which means you can make it as long or as short as you want and include images, links, and videos. Just like the Markethive Blog features, it is delivered in both HTML as well as PDF.
The Bio is optional and can be set to private invite, friends, or public. You can also edit or delete your bio from your Profile Page. However, one of the few common mistakes is not having an introduction or about me page. Sifting through the news feed or recent activity on your profile page can be tedious for a visitor.
What Are The Other Common Mistakes?
People like to know who you are – really. So citing your name is essential, first and last name. Spammy names like “The Insurance Guru” or” Real Estate King” or ‘Crypto Nut” are not a good look for business, nor do they invoke trust.
I’d stay away from gimmicky names; however, some people would rather keep some distance from readers for security reasons or just to have a little privacy. And that’s ok. Many people work and write under professional pseudonyms. However, in a social, decentralized setting like Markethive, I feel genuine is best.
Another mistake is not having a photo of yourself. Even if you have a cat as a profile thumbnail, it is a good idea to have an actual image of yourself on your Bio page. If someone wants to refer you, hire, recommend or buy your product, it’s good to be able to put a face to a name. That, coupled with some well-written content, helps people to feel like they know you.
Using video only can be another mistake. Although it can be a great rapport builder, some visitors may not be in a position to listen at that moment. Many users love video; some dislike it. If you do include a video, keep it short and interesting and have some text content for your readers.
Profile Page Settings
Here is where you upload your photo and your Bio. This is where you should start. Click on the Profile Page Settings tab at the bottom of the menu, and it will take you to the page displayed in the image below.
When there, you click on “Manage” shown at the right of each topic. This will open up the edit settings.
You can change the privacy settings, and your profile page link is also shown in the image below.
Recent Activity – That Pays
Recent Activity acts as your personal timeline and displays the posts you publish in the news feed or on your recent activity page. As well as your capture page link that can be accessed on the Referral Program page, your Profile Page link is also your portal to invite others to join. By referring to just three people, Markethive’s micropayment system activates. That means you are paid to use the platform within Markethive by way of a faucet in Markethive Coin. As the Markethive coin is a Consumer Coin, the velocity is poised to increase as Markethive enters full launch.
Markethive Tracking Feature
Every aspect of Markethive tracks your incoming tracking and reports. This tracking is built into your Profile page, personal blogs, and your capture pages, also WP plugins, giving complete virtual data on all your assets. Such as daily activity report, Geographic map of connections, Device type, Bounce rate, referrers, Keywords, and Social Network traffic. You can view this tracking feature by clicking on Statistics in the menu.
By Date View Of Statistics
Geographical View Of Statistics
Social Networks Connectivity
Authorize the integration of your other social network accounts and leverage them all from a single, powerful system! You maintain control of everything. With each account you add, you are opening up the features and options available to you through this system. This is an extremely powerful way to streamline and centralize your online marketing with social networking tools.
Note: These are in the process of being updated. Markethive will add more networks, and the redundant platforms will be removed.
Markethive News Feed(s) Like No Other
Coupled with the Profile Hub, the present News Feed, which is nearly identical to other well-known feeds, is easy to use. But unlike the others, we have replaced Likes with Tips, tips that allow you the option to give Markethive associates a small token or coin of appreciation.
Just around the corner, Markethive is delivering not one but four specialized news feeds;
The main social newsfeed (Buzzfeed)
The blog newsfeed (For Writers and Bloggers)
The curation newsfeed (Editorials)
The video channel newsfeed. (No need for YouTube)
Soon you will be able to choose and tune in to what interests you. As far as Search algorithms go, you will be able to determine and orchestrate your algorithms. Not Markethive. You decide who and what you see on your newsfeeds. Your news feeds will be completely searchable as well, with both your news feed preferences and the search criteria covering hundreds of variables and options.
Markethive’s innovative designs for its various and specific news feeds will allow you to remotely post a snippet from your videos, blogs, or buzz feed, just enough not to get flagged, with a link back to Markethive to view the content in its entirety.
This unique interface is compelling and will result in an increased reach and brand exposure, enabling you to get your word out to millions. Now we don’t have to tippy-toe around our social media accounts in fear of being canceled or censored.
This gives us the power over the tech giants and gets the word out to reach millions of people in a somewhat covert way, and Markethive can do that automatically with its specific news feeds. A unique format, and no other platform, including the new free speech advocates, are doing this.
This Is Just The Beginning
There are many new and innovative features in development to benefit and enhance your experience, so be on the lookout for them as they roll out. Markethive has built a secure system to empower the Entrepreneur, with unique valuable Inbound Marketing systems and commerce portals integrated within a decentralized social network.
Markethive aims to deliver many diverse platforms, opportunities to create wealth with gamification and is constantly evolving with your privacy, safety, and prosperity at the heart of this monumental undertaking. All made possible with a Blockchain foundation, which above all the other benefits, allows Markethive to pay its members (regardless of free or upgraded Entrepreneurs) to engage and work your business.
To understand more about the many facets of Markethive, go to the company blog, where the different features and latest news is published. Most still don’t realize the enormity of the Markethive Platform. Then get started with your Bio (About Me page), refer three people to unlock the micropayment faucet, start accumulating your Markethive coin and be ready for the release of the Markethive wallet.
We are focused on providing a Universal type of income for aspiring entrepreneurs. We believe sharing our resources with you as you build your business and seek to reach your goals benefits everyone in the community.
If you haven’t visited the tutorials yet, this previous blog will guide you on how to complete the first steps. Markethive Tutorials – This Is Where It All Starts
We welcome all to our collaborative world of the Entrepreneur. Markethive is an international company that represents everyone. We are not specific to any national identity. We have no hidden agenda. Markethive’s heart and soul are freedom, liberty, financial sovereignty, and entrepreneurialism.
Written by Deb Williams Chief Editor and writer for Markethive.com, the social, market, broadcasting network. An avid supporter of blockchain technology and cryptocurrency. I thrive on progress and champion freedom of speech and sovereignty. I embrace "Change" with a passion, and my purpose in life is to enlighten people en masse, accept and move forward with enthusiasm.
