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. 

 

Image credit; https://en.bitcoinwiki.org/wiki/Hodl

1- No Strategy

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. 
• The crypto must have robust tokenomics and token allocations.

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.

 

 

 

 

THE RISE OF BINANCE AKIN TO THE MARKETHIVE JOURNEY 

TWO BLOCKCHAIN CRYPTO COMPANIES IN A LEAGUE OF THEIR OWN

Binance, with its explosive rise to power since 2017, sits at number one on the list of top crypto exchanges, head and shoulders above the rest. In an enterprise that has had so many failures, with exchanges being hacked and startups that expanded so quickly, resulting in massive layoffs, Binance survived and rose above all the growing pains, mayhem, and fraud the nascent industry was experiencing. 

 

 

What makes this crypto exchange so different that it not only survived but thrived in the fluid and dynamic crypto market? 

CEO of Binance, Changpeng Zhao, has a background in developing trading software for brokers and exchanges on Wall St. In 2013, he started working in Blockchain technology for the wallet app blockchain.io and later co-founded OKCoin, a Chinese exchange. 

Zhao’s past experiences led him to understand what worked and what didn’t work in the cryptocurrency world. Zhao gained profound knowledge of the market and knew what crypto customers needed and enabled him to deliver what other exchanges were not. He provided an exchange that put the customer and their investments above everything else. 

Binance has had its fair share of fraudulent activity and setbacks that saw the company decamp from China to Tokyo, then to Malta, as governments were hot on the heels of crypto exchanges and the industry in general. They painstakingly moved their servers from the Chinese-owned Alibaba conglomerate and eventually built their own blockchain. 

Binance rose to the occasion through all of these obstacles, ensuring no customer was out of pocket. The company’s commitment to protecting users’ investments was what set them apart from other exchanges. It values its clients putting them ahead of everything else, regardless of what happens, and this has resulted in an exceptionally loyal following from members of the cryptocurrency community. 

The name Binance was derived from the words “binary” and “finance” to emphasize that there are two types of money in the world now. Fiat and Cryptocurrency. The world’s largest crypto exchange is more of an underground rebellion than a formal company, a rebuttal of the traditional financial system. 

In an interview, Zhao stated, 

‘We want to make a difference to the world and use crypto to do the good things. It’s also about spreading crypto, or the freedom of money.”

Zhao has also started numerous projects targeting Africa, realizing the need and vast potential of crypto adoption. Like Markethive and Cardano, Binance wants to bring financial freedom and sovereignty to the bottom billion with minimal means.

Binance started out as a crypto exchange in 2017 with a difference. They created a coin (BNB) to be used as payment for exchange fees within their exchange at a discount. Other exchanges could only accept Bitcoin as payment for exchange fees as they had no coin. This was a significant catalyst in growing the community from 122,000 members in 2017 when they launched their coin to 15 million strong today. 

BNB went from $0.10cents per coin when first released in 2017 to $568.26 today, April 28, 2021. That is exceptional growth and proves cryptocurrency with genuine utility and purpose has a place in today’s financial ecosystem. 

Binance is now more than just an exchange; it is an ecosystem with many innovative products and consistently adds technologies diversifying its services. This includes a decentralized exchange (DEX) hosted by thousands of computers worldwide, rendering it a censorship-resistant entity open to the global community and beyond the reach of any government. 

The transparent and humanitarian approach, along with its stringent KYC/AML protocol, has made Binance a favorite among the crypto community with its sights set on the essential neo banking component of Web3, finally giving people true freedom over their own money. 

The Binance ecosystem has ticked all the boxes by being proactive and nurturing a dynamic community, building the next generation advanced exchange, facilitating their own coin (BNB) to 3rd parties establishing adoption and utility. 

Similarities Of Markethive And Binance

The similarities in many aspects between Binance and Markethive are significant. The Name Markethive is the culmination of the two words, “market” and “hive.” Market is the representation of inbound marketing, product diversity, ecommerce, and Hive represents an active social network of entrepreneurs and collaboration. 

It is the first social market broadcasting network built on blockchain technology, with a fungible coin (Hivecoin) that the Markethive community and 3rd parties will utilize. This makes it a complete ecosystem in the social media and marketing niches. Markethive’s mission is to deliver a decentralized and autonomous environment to the masses, free from the oppressive oligopoly that is rife in our online world. 

Markethive’s proactive approach in building and relocating to its own servers to counter the agenda-driven withdrawal of hosting services from the major cloud service providers that other platforms fell victim to is just one of the many facets that will ensure Markethive’s solid and sustainable future. 

Financial sovereignty and the ability to earn an income, particularly in emerging countries like Africa, is another objective Markethive holds very dear. Dubbed as the Ecosystem For Entrepreneurs, CEO, and Founder of Markethive, Thomas Prendergast lives and works only to lift people up and give them a sanctuary where they can aspire and retire, giving purpose to their lives and livelihoods, realizing their potential.

Thomas Prendergast, a life-long entrepreneur succeeded in creating the first automated marketing system in 1994; an eminent achievement. It included a self-replicated website, self-replicated PDF, the first read-write to a server database, the first autoresponder email system, the first remote broadcasting system, and all incorporated into the first Automated Marketing system known a Veretekk. 

Tom’s passion for helping others has only increased with the emerging technologies enabling him to deliver a system far beyond what is available today. The Markethive concept was born five years ago and has evolved into a monolithic blockchain and cryptocurrency project much needed in the current landscape of social media and marketing and destined for success.  
 

Thomas Prendergast (as quoted in this article) illustrates why the demand for a blockchain system’s coin is driven by an ecosystem using Binance as an example, 

“The Binance community was 122,000 members strong in 2017 when they launched their coin. Our community is double that as we approach launching our coin. Today 4 years later, the community has grown to 15 million. We can expect similar growth. The Binance coin went from 37 satoshis (.10 cents) per coin upon release in 2017 to 10,296 satoshis ($518.83) per coin today as of this writing. Imagine if Binance had developed and delivered ILPs as Markethive has done. We can expect similar results with Markethive when we launch our coin.” 

 

 

Greater Coin Value Determined

The Markethive Ecosystem will support coin demand and resist traditional pump and dump scenarios typical for any new coin release to the exchanges. The upgrade advertising services like the Banner Impressions Exchange (BIX), Markethive’s Press Release System, Broadcasting system, the Boost, and Video advertising add infinity, as the demand for these state-of-the-art marketing services will only be fundable via the Markethive Hivecoin. The classic supply and demand tradition is the force behind coins rising in value.

Markethive will always be ahead of the curve, introducing new products, systems, and more innovative ways to facilitate operations for users within the social media and marketing environment, including the potential for real financial wealth and abundance on every level for its community. 

The latest initiative is the migration from Ethereum to the Cardano blockchain system with its superior technology offering more incredible transaction speed, drastically reduced fees, and exceptional support in co-developing the Markethive wallet. The Markethive blockchain will fork off Cardano’s main chain giving it sovereignty, total decentralization, and the ability to store massive amounts of data, as explained in this article.

The other great thing is the new look Markethive Coin, renamed Hivecoin (HIVE), and the decision to burn a significant amount of the original MHV will reduce the total to 8 million coins. This will not affect any members’ coin holdings in their Coin Clips. What it will do is support greater coin value after our coin is released to the exchanges.  

The Markethive vision is built for the people, by the people, and is of the people as they always come first in the company’s eyes. Forget the tech giants of old; the blockchain and cryptocurrency success stories, like Binance, Cardano, and the upcoming next generation of the social market network, Markethive, put crypto businesses in a league of their own. Furthermore, all three companies are synergistic in their mission and vision; all are flawlessly transparent and go beyond the threshold of a typical company.

 

 

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.

GIANT BLOCKCHAIN CRYPTO PROJECT – FIRST IN 100% DECENTRALIZED SOCIAL MARKET MEDIA

…And They Said It Couldn’t Be Done

MHV poised to triumph in the crypto economy.

Cryptocurrencies have many use cases. Some act as a store of value, others power blockchain to make it possible to create trustless digital contracts and permissionless decentralized applications. Some cryptocurrencies are pegged to fiat currency allowing for stable transfers of value, and some underpin protocols that offer decentralized data storage and video streaming. 

Each of these use cases requires a particular set of blockchain attributes and economic incentives. Many say that there is no single cryptocurrency project that can do it all; however, there is one that comes very close in a field that has been, for the most part, put in the too-hard basket by the majority. 

Who Dares Wins 

Markethive is a monolithic blockchain project currently operating as a social network, an entire inbound marketing platform with email, blogging, and digital media capabilities that broadcast to the vast internet. It’s a complete Market Network and the first of its kind. 

Markethive is predominantly a free system where users can access a platform that can cost more than $2,500 offered by other marketing platforms. There are, of course, upgrades that open up more tools and monetization opportunities, the first being the Entrepreneur One Loyalty Program, and coming soon is the Apprentice membership. 

The many domains Markethive has, and it's autonomous cloud systems that ensure its sovereignty and longevity make it untouchable and immune from the tech giants’ rule and biased agender. But can still remotely infiltrate the social media platforms and reach the multitudes either locked in or looking for an alternative meritocratic medium.

In other words, wherever you go, Markethive is there, anywhere and everywhere, delivering its message via its community of entrepreneurs to a far-reaching audience. This next-generation social market media is poised in the wings, and when the time is right, it will emerge as a shining light to lift people up and bring financial sovereignty and hope in this gloomy and uncertain world.  

The video platform, conference rooms, and the unique four specific news feeds currently in development, and many other projects and incentives add to the credibility and need for an ecosystem in the social media and digital marketing space. 

Now in the final stages of BETA, Markethive will officially launch with the release of its first crypto exchange wallet, which is basically a portal to the many coin exchanges MHV will be listed on, and is close at hand. (Not to be confused with our Dapp multi-functional wallet in development). 

Meanwhile, the growing user base is accumulating their Markethive Coins (MHV) in anticipation of the release when they will be able to transact using MHV within the Markethive system and externally.

What Sets MHV Apart?

The Markethive platform enables the users to earn MHV cryptocurrency with everything they do on the platform and are also paid for their loyalty. The Vault is an innovative concept that allows Markethive members to stake their coins, similar to a bank account. The more coins held in your vault the higher the micropayments received, and then there’s the monthly interest paid to you based on the number of coins in your coin clip.

The company issues these micropayments, incentives, and rewards, not just the users, which is commonplace and the only form of payment in other crypto-based platforms. However, Markethive does have a tipping protocol the people can utilize if they wish and substitutes the like button. 

It isn’t only a social media network or inbound marketing platform; it lends itself to the cottage industry concept allowing members to monetize the various initiatives Markethive is developing, starting the Banner Impressions Exchange. It’s also where entrepreneurs can facilitate and promote their personal businesses to a built-in audience as well as a springboard to the far regions of the internet. 

In Markethive’s all-encompassing ecosystem, the objective for the Markethive Coin (MHV) is to be utilized as a form of payment rather than just selling it (pump and dump scenario). This gives a purpose and real use case for MHV, equalizing the velocity, and increasing coin value. 

Bitcoin has established itself as a store of value that affects the value of most other altcoins, albeit positively or negatively at any given time. However, if a coin or project’s use case and utility are credible, it can result in a parabolic shift, increasing in price, without riding on Bitcoin’s coattails. 

The Markethive Blockchain On Cardano Platform

Recently, Markethive decided to migrate to the Cardano Blockchain platform from the Ethereum platform for several reasons explained in the article.   

The Cardano blockchain platform enables Markethive the advanced capabilities to produce the distributed database system that Markethive needs to ensure all data that the extensive user base inherently creates in a social media environment are safely integrated and stored on the blockchain. This includes all forms of content, videos, images, etc.

A mammoth task for a blockchain, and also not conducive for an established social media platform like Facebook with its trillions upon trillions of data already in its system. Markethive conceived and initiated this blockchain protocol from the ground up making it easier to integrate. We just had to wait for the right technology to surface.  

Thanks to technology evolution, the Markethive social market network’s ability to build a massive database management blockchain can only be done on a 3rd generation blockchain platform like Cardano. Fundamentally, the Markethive blockchain will be forked off the Cardano blockchain, with MHV being a native token which is a fungible multi-asset token. 

Native tokens represent value and act as an accounting unit, which can be used for payments and transactions and sent to an exchange address. Native means that these tokens are supported by the Cardano accounting ledger without the need for additional smart contracts, as the ledger features built-in support to track ownership and transfer of more than one type of asset.

The Markethive Coin – A First-Class Citizen

Cardano’s Mary Hard Fork, conducted on March 1st, 2021, saw the introduction of native assets to the Cardano Blockchain. This means MHV can be built into the blockchain ledger the same way Cardano’s native token, ADA, makes MHV a first-class citizen. 

In other words, MHV will receive the full benefits of the Cardano blockchain, such as the same level of safety and security as ADA itself and eventually a governance system as it rolls out.

The first-class citizen approach will mean Cardano’s multi-currency ledger will give much more autonomy to any token(s) made on the blockchain. They won’t be another cookie-cutter token like the ERC-20 token.

This design will make it easier for tokens built on Cardano to be listed on exchanges as they will be able to prove a greater degree of independence than ERC-20 tokens. 

The protocol also allows multiple native assets within the same transaction, unlike Ethereum, where it is only possible to send one ERC-20 token at a time. You will also be able to use native assets to pay transaction fees made possible by the recently announced Babel Fees mechanism currently in development. By contrast, you need ETH to send any ERC-20 tokens on Ethereum.  

Ethereum blockchain issues tokens through a custom coded smart contract, which issues a non-native token. This token won't have all the advantages of Ethereum, and you have to pay for smart contract execution every time you move your token. This is why people complain about Ethereum fees being so high. It's not very efficient, leaving the door open for human error when coding smart contracts.

The low cost in transactional fees and the increased throughput into the thousands make Cardano blockchain a favorite in future generation blockchains. A sustainable, scalable financial operating system is becoming a reality. 

 

MHV Remains The Same As It Ever Was

It’s important to understand that the Markethive coin remains the same and will not affect any current or future operations of the Markethive system. You still keep your MHV coins you are accumulating. It's the blockchain technology behind Markethive that is changing for the better. 

The ILP smart contracts that some entrepreneurs in Markethive have recognized the value of and acquired will work seamlessly in the background on the Markethive blockchain forked off Cardano, all the while the MHV will be used as a medium of exchange and will continually be circulating, earned and accumulated by users within the Markethive economy.

It allows us to be completely decentralized financially with complete autonomy and protection of our intellectual property, ascertaining a viable and comprehensive ecosystem. This bodes exceptionally well for the Markethive ecosystem and will benefit all who participate in it. Essentially the Markethive ecosystem will have its own financial operating system within the new global financial operating system envisioned by Cardano. 

 

Markethive – Staunch And Benevolent Vision

Markethive’s vision is a fully decentralized social network inbound marketing platform integrated and operated on a massively distributed database system, being the internal giant blockchain controlled by a smaller external blockchain Markethive’s Dapp wallet will utilize. 

This is a very advanced technology Markethive is integrating at which no other platform is doing or will attempt to do. It is a vast undertaking and needs to be done right so security is not compromised, on all levels, hence the methodical and time-consuming approach. Markethive is incomparable to any other media platform and although touted it that couldn’t be done, is, in fact, 90% done. 

It’s about looking after the community, the products and projects, the use, and the utility. Getting it right, being clever and evolutionary will pay huge dividends in the mid to long term for everyone in the ecosystem. Markethive is always focused on where we are going and why we are going there in the mission, giving economic sovereignty and identity to all, especially those that don’t have it. 

I know, it’s hard to get your head around and most people don’t comprehend what we have in our midst with Markethive but rest assured this gigantic all-in-one platform current flying under the radar will be a life-changing positive force of how we work, earn and socialize online. 

 

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.

 

Evolving Technology Challenges The Status Quo

Evolution is the operative word poignant to every living thing and inanimate object on the planet. One of the fastest evolving elements I’ve seen in my lifetime is in the field of technology. We’ve seen more growth and emergence in technology in the last 100 years than in all the centuries leading up to today, and it’s accelerating. It has undoubtedly created a faster pace, more convenient, and comfortable lifestyle. The one thing that is still around is the age-old oligarchal type monopolies, wielding their clout, but for how long? 

Digital technology stems from divine inspiration. When used correctly for the betterment of humanity, it is a beautiful thing; however, we’ve all been subject to nefarious activity driven by greed, power, and control. Like everything else, technology must evolve, or it becomes obsolete eventually. The issues that have manifested and become problematic give rise to emerging technologies to counter them. 

Since the dawn of the internet, we have seen a consistent evolution in technology. One example is Yahoo back in 1994, providing a web portal, search engine with related services including email, finance, video sharing, etc. Then the MySpace social network came on the scene in 2005, surpassing Yahoo and even Google in 2006. But in 2009, MySpace was overtaken by Facebook globally.          

Falling From Grace

Complacency or the attitude of “too big to fail” can often be the demise of a successful organization. Ongoing research and development is a must to stay at the forefront. I also believe a company’s values, ethics, and purpose for the higher good play a prominent role, especially in the current circumstances being experienced worldwide. 

Many may think that Amazon, Microsoft, Google, Facebook, and a few others are here to stay as they have a dominant position in the market; however, it’ll be because they improve technology and evolve if they remain. Being number one in the market is not automatic, nor is it free. It takes money to develop technologies along with marketing to retain users. 

That might seem doable for these tech giants, but what of their underlying agendas and motivations? Can or will a conglomerate evolve spiritually and humanistically? Or have they fallen into the ego trap giving them a false sense of security? Will they survive in a world of enlightened human beings? 

History tells us that competitors, at some level, can overtake large organizations, and now it is more critical than ever that people feel safe, secure, and free from the violations that have become so commonplace in the online space. Evolution on every level is the key to survival in the world of digital technologies. Evolution is not static; it is a dynamic process. 

Evolution in the technological world is fast becoming a revolution; A battle between good and evil, a tug of war between humility and ego drive. It may have been enough to surpass the top dog with only better technology in the past, but now it’s crunch time. The advent of the third millennium gives rise to the evolution of the human spirit, and altruistic motives need to be present in the next tech giant. 

Getting back to the technology side of things, users also desire the best in available technology. In the context of the digital world, people expect everything to happen in seconds and be very cheap, if not completely free. There’s also the need to have fewer entrance barriers, the better. It must be readily available, reliable, and user-friendly, and now we can add privacy, autonomy, and free speech to the list of needs that are fundamental human rights. 

The status quo of social and digital media, even marketing platforms, leaves a lot to be desired. Can they evolve in order to keep their top position? Are they in too deep and unable or unwilling to implement emerging technologies such as decentralized blockchain? 

Ecosystems Are Evolutionary

Evolution is a must and a natural process, and it’s no different when it comes to digital media. A few attempts have been made at creating an alternative to the tech giants that currently monopolize the online environment with cancel culture being the new order. We presently see a balkanization with many linear platforms in the mix. 

Just as the planet is an entire and complete ecosystem, we are now experiencing ecosystems in technology. This is an evolution in itself and is required if a platform is to be sustainable. Blockchain and crypto technology has made it possible for an innovative company or platform to develop a system from the ground up, which will solve many controversial issues plaguing social media today. 

At the forefront is Markethive, a complete ecosystem for the online user, be it social, professional, inbound marketing, commercial, artistic, or entrepreneurs from all walks of life, where every individual is empowered financially, professionally, and personally. 

Markethive, the Social Market Broadcasting Network, is constantly evolving, providing creative solutions and a sanctuary from the chaos of the internet. Blockchain technology has made it possible for Markethive to become the first completely decentralized social network, giving it the edge over technologies and systems of previous generations, including humanitarian values so desperately needed right now.      

The Evolution of Money

Paper money and coins are not the only money we use today. Money has evolved into a digital form using internet banking for transferring money and credit or debit cards. More and more people are using the internet for their banking needs. 

The banks are notorious for working at a snail’s pace and are not the best information technology innovators, so they evolve slowly. The trust factor has also become precarious. This has brought forth an evolution in decentralized blockchain technology that has a real potential to disrupt traditional banking, digital or otherwise.  

Cryptocurrency technologies can disrupt financial services, with the probability of becoming money and a store of value. Further technical development and evolution will see this happen to rival legacy banking and fiat currency with its hyperinflation. 

From a technological standpoint, money needs to evolve. The development of technologies needs to be a dynamic process, but the monetary base can and should be static. That means assets used as a store of value necessitate a fixed or predictable number of units. A predictable inflation rate is required with money when used as units of account and means of exchange. The inflation rate should be kept very low, and theoretically, it could even be at zero. 

 

Cryptocurrency Evolution 

Cryptocurrency technology must continue to evolve to become a viable alternative to traditional banking. There are now thousands of altcoins in the crypto space, many created by opportunists jumping on the bandwagon with no real purpose. They generate a coin for the sake of a coin with nothing substantial underpinning it. The outcome is a static one gaining no real value because their utility is limited or non-existent due to lack of development and foresight. 

Even Bitcoin has not evolved. Its progress in technology is plodding. Although we see much more awareness within the community now, even institutions invest in Bitcoin; it has its drawbacks and issues. It is not as decentralized as many think or expect. The PoW (Proof of Work) team behind Bitcoin is at odds with each other when issues arise. This stunts growth and evolution. 

However, Bitcoin is becoming an established store of value, and people are reluctant to tamper with it for fear of breaking anything. So it sits there, recognized as being the first crypto, allowing others to evolve, addressing the problems, finding solutions, and making it an all-around better experience for users. 

Bitcoin doesn’t have smart contracts and probably never will have. Ethereum came out with a smart contract protocol that is now experiencing bugs and human error in their PoW system. People have lost money as it has severe security issues and now very high gas (transaction) fees. 

The smart contract concept is very sound but needs to evolve and be better executed. Ethereum has realized this and declared it would integrate a PoS protocol. This is a huge undertaking and will take time, so of course, no timeline has been given as yet, to when this will take place. 

Bitcoin and Ethereum are not the be-all and end-all of cryptocurrency and smart contracts; it’s just the beginning. Evolution is in full swing with Cardano, having identified the issues that have manifested, working methodically, scientifically, and philosophically to create a fully decentralized blockchain PoS (Proof of Stake) platform and also become a better alternative to traditional banks or make them more fair and transparent.   

The Evolution Of Decentralization

But it’s not only about smart contracts. It’s also about the evolution of the quality of decentralization. Blockchain is the technology; decentralization is the movement. Relying on the PoW protocol is becoming doubtful and expensive! PoS allows for a more decentralized and scalable network. 

Let’s be honest. The current most extensive networks Bitcoin and Ethereum have costly fees. Expensive fees kill the usability of networks. Maybe it’s tolerable to pay a high fee when you use Bitcoin as a store of value and only make one transaction a month. We need to be able to afford to transact anytime, all the time, if we want a proper global payment system. 

Just the other day, I sent $10 worth of Bitcoin and paid more than double that in fees! We can have a global decentralized network with cheap and fast transactions. It is a natural evolution of technologies: no magic, just pure math and science.

Cardano can be thought of as a kind of insurance that can and is building a fully decentralized, stable, and scalable network regardless of what will happen with Bitcoin.
What About The Environment?
How much thought has gone into the impact on the global environment? We see the environmental impact of PoW (Proof of Work) like Bitcoin and other altcoins that use this model which consumes massive amounts of electricity. 

Why? Because this type of consensus mechanism needs an excessive amount of computational power with hardware devices that are expensive to buy and more expensive to run. The cryptographic algorithm that the miners must solve is complicated, and the power consumption used by Bitcoin recently estimated is more than that of the whole of Argentina. 

And what type of electricity are they using? Will they continue with fossil fuels, or will they commandeer renewable energy resources? Either way, it leads to unfathomable repercussions. 

 

According to this site, a single transaction of bitcoin has the same carbon footprint as 680,000 Visa transactions or 51,210 hours of watching YouTube.

Not only is PoW considered unhealthy for the environment, but it also slows down the rate of cryptocurrency adoption in the real world, as electricity bills can only be paid with fiat currency. There are also scalability issues as Bitcoin can only process seven transactions per second, and Ethereum comes in second place, transacting at only fifteen.

Bitcoin advocates have clearly expressed that they believe any environmental costs induced by mining Bitcoin via PoW are worth the broader implications it could have on society. Evolution in technology will prove there does not need to be any type of trade-off between cryptocurrency and the environment. 

This is where the PoS (Proof of Stake) method comes into play. The cost-effectiveness is extensive compared with PoW. It guarantees that much less electricity is used to mine cryptocurrency and verify transactions. 

Furthermore, the speed and number of transactions (scalability) increase thousandfold making it a far better option for mainstream adoption. The Cardano blockchain platform has effectively solved the three elements of the scalability issue: Throughput (Transactions per second), Network, and Data scaling. 

Markethive, now deploying the Cardano blockchain ecosystem, also plans to establish many mining hives distributed globally. This will create a massive surplus in electricity and be built on 100% green energy that supports the core distributed decentralized data-based systems using dWave computers, which utilizes the advanced theoretical technology of multiple parallel universes. 

 

Centralization Issues

These powerful computational devices are known as ASICs and have resulted in centralized organizations pooling their resources to buy thousands of devices that generate the highest mining power to more efficiently solve the cryptographic sum first (confirms and validates transactions). The winner gets a reward paid in Bitcoin.

The PoW system has proven to be unfair as the average individual has no chance of ever participating or competing to win the mining reward. The PoS (Proof of Stake) model prevents groups of people from joining forces to dominate the network. 

The Proof of Stake system essentially allows the community to contribute by buying any number of coins (although there is usually a minimum required) and holding them in a dedicated wallet. It freezes the coins where they are used to stake the network. PoS still uses a cryptographic algorithm; however, it uses a different process to confirm transactions and reach consensus.

The PoW model requires all of its miners to solve a complex equation, and the winner is usually the person or group with the most powerful and quantity of hardware. The PoS model randomly chooses the winner based on the amount they have staked. There are no block rewards; however, they get paid the transaction fee, which is determined by how much they’ve staked.

With PoS, there is no need for expensive hardware or high electricity costs. It’s proven to be faster, and you can simply mine from a typical laptop. So, of course, this negates any centralization issues making it a more fair and equitable system for all.  

 

The Beauty Of Evolution 

In its purest essence, technological evolution is brought about by innovative ideas and creative visions sourced from divine consciousness. It needs to improve on the current status quo, enhancing the lives of all humanity on every level. 

The first mover doesn’t necessarily secure its top spot in the marketplace, nor is it the best. Companies with foresight can learn from their predecessors’ mistakes combined with a culture of goodwill, can go far in succeeding for the company and the people they serve.  

As I mentioned earlier, this millennium brings to light the humanitarian, spiritual element. Unlike the industrial age, it’s not just about business and the bottom line; it’s about the development and well-being of the community holistically and cohesively. It is the era of love and peace. 

 

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.