Markethive Press Releases: Standing Tall In The New Ocean Of Crypto Currencies
Markethive Introduces The Wheel Of Fortune For Its Growing Ecosystem Markethive, the next generation of a market network, Is proud to announce the launch of its first among many other initiatives to come, the Wheel of Fortune.
As per the announcement, the launch is the first step into ensuring Markethive becomes the most powerful marketing and Social Network platform in the market.
Thomas Prendergast, CEO of Markethive, explained:
“We have launched the Wheel of Fortune as we move Markethive into being the most powerful marketing platform, social network, and the most effective broadcasting platform in existence. This is just one of the many major integrations of services coming that will benefit entrepreneurs and marketers. We are building a powerful epic ecosystem never seen before.”
One notable feature about Markethive is that every spin is a win. The Wheel of Fortune also offers different prizes, including Airdrops, Hivecoins, Newsfeed Boosts, Ad Impressions, ILPS, and Micropayment’s boost.
The Markethive’s Wheel of Fortune is a donation type of wheel that is created with five levels. The first-level players get 500 bee coins, 500 ad impressions, 100,000 bee coins, 1 Hivecoin, 100 ad impressions, and 10 Hivecoin. However, this increases as the level progresses so that the last level has 1000 Hivecoins, 20,000 ad impressions, one news feed boost, 50% airdrop bump for a year, entrepreneur one for life, and one full ILP.
In addition to the gamification aspect of the wheel, Markethive allows its users to accumulate and increase their crypto portfolios. The wheel also allows Players to become Markethive shareholders with the ILP program, providing them with an opportunity to earn revenue for the rest of their lives. For the launch, the platform is giving away ten spins for free that must be used within seven days.
Notably, Markethive is a hybrid platform that has infused inbound marketing into News Feeds while infusing social network power into their inbound marketing platform. Additionally, the platform was created for entrepreneurs, putting their needs first.
Markethive seeks to revolutionize online marketing, social networking, commerce portals, and media content provision across the globe to empower, entrust and validate the startups, entrepreneurs, and media marketers without financial challenges.
The Wheel of Fortune is another great addition to the Banner Impression Exchange that allows users to buy and sell Markethive’s impressions. The Banner Impression Exchange is an open exchange in which the free market determines the price.
Join us as we move forward with the next-generation multi-dimensional media platform, and welcome to the Entrepreneur’s ecosystem. We are built for Entrepreneurs by Entrepreneurs and are of Entrepreneurs of every caliber.
Click on this link to discover all the features and benefits of these enterprising initiatives provided by Markethive, the Broadcasting Social Market Network.
Markethive is building an epic entrepreneurial ecosystem, never seen before and transcendent to other social media and marketing platforms. The transformation is enhanced with our release of the first of many initiatives being the Wheel Of Fortune and the launch of The Boost to follow soon after.
With Markethive now running on its own servers, with the security of Blockchain and its Hivecoin about to be released as a native fungible multi-asset token on Cardano, we have arrived as the first mega decentralized social platform marketing network with the mission is to deliver a decentralized and autonomous environment to the masses, that is not subject to the oppressive technocracy.
Inspired by Binance’s rise in becoming more than a crypto exchange, Markethive goes far beyond by creating a robust ecosystem in the social media and marketing niches. It will deliver very unique aspects to the Markethive exchange by creating niches and exclusivities that no other platform or system has.
As stated by Founder and CEO of Markethive, Thomas Prendergast,
“The transformation has begun. We are releasing our first of many services as we move Markethive into being the most powerful marketing platform in existence, as well as the most powerful Social Network system as well as the most effective broadcasting platform ever built. The Wheel of Fortune is just one of the many major integrations of services coming that entrepreneurs and marketers need and will benefit from. We are building a powerful epic ecosystem never seen before.”
The Wheel Of Fortune
First off the development team’s rank is the Wheel of Fortune: The spinning wheel is packed with various prizes related to Markethive and conducive to the people of the community who participate. The awards consist of Hivecoins, Bee Coins, Ad Impressions (to use on the BIX platform), Airdrop bumps of Hivecoin, Newsfeed Boosts, Micropayment boosts, and even ILPs or a fraction thereof.
Note; A “BEE” coin is a fractional unit of the Hivecoin. Like the Satoshi is to Bitcoin, it takes 100,000,000 BEEs to make one Hivecoin.
It’s fundamentally a donation platform displaying five levels ranging in price from $1usd to $100usd, and prizes or number of spins are commensurate with any given level as shown below. The beauty of this wheel is that “Every Spin is a Win!”
Wheel of Fortune Popup Store
Level 1: 500 Bee Coins; 500 Ad Impressions; 100,000 Bee Coins; 1 Hivecoin; 100 Ad Impressions; 10 Hivecoins.
Level 2: 500 Bee Coins, 1000 Ad Impressions; News Feed Boosts; 10% AirDrop Bump for seven days; 10% Faucet Bump for five days; 50 Hivecoins.
Level 3: 200 Hivecoins; 5,000 Ad Impressions; News Feed Boost; 50% AirDrop bump for 30 days; 10% Faucet Bump for 15 days; 1/10th ILP.
Level 4: 200 Hivecoin; 10,000 Ad Impressions; News Feed Boost; 50% AirDrop Bump for 30 days; Entrepreneur One for one month; 1/10th ILP
Level 5:
1000 Hivecoins; 20,000 Ad Impressions; 1 News Feed Boost; 50% AirDrop Bump for a year; Entrepreneur One for Life; 1 full ILP.
With the much-enjoyed gamification aspect, the Wheel of Fortune provides ample opportunity to accumulate and increase your crypto portfolio as well as the chance to become a lifetime revenue earner as a Markethive Shareholder with an ILP.
All proceeds of the Wheel of Fortune and the other advertising services to be released like The Boost (coming soon), Press Releases, Premium Upgrades, etc., are classed as revenue for the Markethive ILP holders. Markethive will pay these dividends via fiat or Bitcoin and eventually paid in Hivecoin when we progress with the exchange.
The Boost Explained (coming next)
Have you ever noticed when creating a post for your business on your Facebook Page, you constantly get prompts to increase traffic to your post by purchasing a Boost Package? The concept is a good idea; however, the number of viewers that actually see your post is questionable.
Facebook algorithms are notorious for being manipulated. The reality is that even after spending time and money to build a large following with a Facebook Page, the news feed posts are only posting to less than 1% of your followers.
Facebook Boosts cost as much as $1000 to post your News Feed post to a maximum of about 500-700 members even if you have 1,000s of Page followers. There is much room for improvement as Facebook Boost posts are limited in their reach and are too expensive for most aspiring entrepreneurs.
For instance, at the time of this writing, Markethive’s Facebook page has about 10,000 followers. When we post to the News Feed, only around 1% of the members are reached (for example, our post was only available on the news feed of 141 people). However, Facebook is quick to alert us a boost is available.
However, for $1000, Facebook will publish our Newsfeed post to an additional 5,000 over seven days of our 10,000 followers.
Facebook’s algorithms greatly reduce the number of friends who see your posts and significantly limit your marketing efforts to your followers. Even with the Boost, it’s not ideal and can run into thousands of dollars.
There are pros and cons to Facebook Boost, but arguably, Facebook is not designed for marketers or aspiring entrepreneurs, nor does it have their best interests at heart. The coming Markethive Boost system is designed to give the entrepreneur a very distinct advantage within our ecosystem.
The Markethive Boost Difference
The Markethive Boost will not be prone to algorithmic manipulation and will allow you to Boost outside your boundaries as well for a fraction of the cost. As the Markethive Boost evolves, it will become layered to the level you want it delivered (different prices to deliver via hashtags, keywords, most active, number of friends, etc. (But not via private navigation).
Initially, the Boost will allow you to post on every member’s News Feed for one flat fee for free members and a discounted fee for upgraded Entrepreneur One and Premium members. The standard BOOST prices will be $100 for free members and $50 for upgraded members; however, for the launch, Markethive will offer a first 30 day special that all members may make one Boost post for $20 “All levels.”
Stay tuned for the big release.
Markethive Puts The Needs Of Entrepreneurs First
Markethive has infused the power of Inbound Marketing into the News Feed and infused the power of the social network into the Inbound Marketing platform, which means it’s an enhanced Social Network hybrid. It’s where the needs of the entrepreneur, marketer, business, and corporation are not only met but put at the forefront.
Markethive’s evolutionary and innovative ethos is showcased with the introduction of Markethive’s unique combined news feed interface. Plus, the social market network’s ability to build a massive database management system on the decentralized blockchain with its crypto, Hivecoin, as a native token which is a fungible multi-asset token along with the Markethive Wallet App. All are coming soon.
It already has a large community that is highly engaged, has exceptional traffic, and all the components and the utility that is considered essential for a cryptocurrency to be explosive on the crypto market potentially.
Social + Marketing + Blogging + Video + Curation + Broadcasting + Gamification + Crypto = Markethive
An Epic Ecosystem In The Making
All these elements constitute a powerful and epic ecosystem that will only expand as we move forward with our next-generation multi-media interface. Markethive was built for the Entrepreneur: 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 Markethive ecosystem. Markethive is always focused on where we are going and why we are going there in the mission, giving economic sovereignty, privacy, security, free speech, and liberty to all.
Markethive has built a system that they said could not be done; it’s too big. However, Markethive will always be ahead of the curve, introducing new products, systems, and more innovative ways to facilitate user operations within the social media and marketing environment. The added advantage of a decentralized crypto environment offers the potential for real financial wealth and abundance on every level for its community.
Join us as we move forward with the next-generation multi-dimensional media platform, Markethive. Welcome to the Entrepreneur’s ecosystem. We are built for Entrepreneurs by Entrepreneurs and are of Entrepreneurs of every caliber.
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.
BLOCKCHAIN CONSOLIDATION AMPLIFIES CARDANO’S PRESENCE ON A GLOBAL SCALE
While the Markethive Social Market Network continues to work very closely with Cardano with its integration to the Cardano Blockchain, a lot is happening with the many other facets of Cardano and IOG to further establish their presence in this evolving world of technology. Its technology can assist in a new redistribution of power and give people greater freedom, bringing the world together with a more equitable landscape.
As we anticipate the imminent rollout of Markethive’s multifunction news feed interface, gamification platform, and migration to the Cardano blockchain, I will outline some of the amazing initiatives IOG has set into motion; with the announcement of a historical event and the recognition, Cardano has received of late. This is all wonderfully exciting news putting Cardano at the forefront as one of the fastest-growing, most stable, most mature, and systematic cryptocurrency projects.
What Is IOG?
Input Output Global, otherwise known as Input Output Hong Kong (IOHK), is a research and development company committed to using the peer-to-peer innovations of blockchain to build accessible financial services for all. The company was founded in 2015 by Charles Hoskinson and Jeremy Wood. IOHK is an engineering company that builds cryptocurrencies and blockchains for academic institutions, government entities, and corporations for the Cardano blockchain.
The first is the Alonzo project, which is essential for Markethive’s smart contracts and many other companies committed to utilizing Cardano services.
The Alonzo Roadmap
The Alonzo roadmap consists of a testnet and is essential for implementing smart contracts on the Cardano blockchain. The different stages of the Alonzo roadmap are color-coded, with Alonzo Blue being the first testnet phase. The initial phase has been deemed very successful, and the Alonzo White phase is set to run by this coming week.
This stage allows a broader net of testers with the overall goal to integrate the off-chain components within the new stable environment, including the wallet backend. This will also enable partners to test their scripts in a live setting and run for approximately two to four weeks.
Alonzo Purple is the third main stage before the main net when the testnet becomes public. All pioneers and partners start working on their projects, so there will be a step up in users from every stakeholder group load testing the network. This will also see the integration of Daedalus flight wallet and the big exchanges.
Alonzo Red and Black are a minor factor and can be summarized as a “tidying up” of everything before the mainnet launch. IOG is close to the hard fork combinator at this stage, bringing the Goguen smart contract phase to Cardano.
There's enormous commercial interest, traction, and community effort with Cardano and evident with Alonso Blue, soon to be White. It is also evident with independent projects and how fast they're moving.
With the launch of Mary earlier this year, Cardano already has enormous traction with tens of thousands of NFT assets issued, worth over $10 million that have been sold. It also brings native assets to the Cardano test network and allows developers to create custom tokens or migrate unique existing projects to Cardano like Markethive Hivecoin and SingularityNET AGIX and are very much aligned with Cardano and Charles Hoskinson’s long-term vision.
Charles Hoskinson Meet Grace
Singularity.net is a decentralized global AI marketplace and, together with Hanson Robotics, has created a platform where the world of biotech meets that of AI and robotics. Their vision is to facilitate human-like robots as medical assistants to meet patient health care needs initially in aged care—the Awakening.Health project is on a mission to cure the pains of the medical system and deliver services at a low cost, and helping patients worldwide.
Meet Grace, the medical assistant robot; she is named Grace as it means Divine assistance given to humans for their regeneration or sanctification. Watch the video below.
SingularityNET is also working in Africa to leverage advanced technologies such as AI, blockchain, and machine learning to support African scientists and technologists.
So there is simply no end to Cardano’s technology and scope, and ability to integrate all aspects of life. Cardano has also seen a tripling in the population size of the community network since last year and a lot of value accumulation as well. Cardano is the number one stake network in the entire cryptocurrency space, with a lot of excitement, activity, and genuine interest in the overall mission of Cardano.
ADA Welcomed By Grayscales
There is also a lot of institutional interest, and recently Grayscale Investments, the world’s largest crypto asset manager, added Cardano’s ADA to their Grayscale Digital Large Cap Fund portfolio.
According to this report, Grayscale has adjusted the Fund’s portfolio by selling specific amounts of the existing Fund Components in proportion to their respective weightings and using the cash proceeds to purchase Cardano (ADA). This makes ADA the third-largest crypto holding behind Bitcoin and Ethereum.
Vision For Africa Making Headway
Charles Hoskinson’s vision for Africa is making headway with the recent announcement of a historic deal with the government of Ethiopia to bring 5 million young Africans to the Cardano blockchain. This is the most extensive blockchain deployment globally that will give a digital identity to students and teachers.
Cardano’s technology and Atala PRISM will create a national attainment recording system to verify grades, monitor school performance, and boost nationwide education. This is done by the Atala PRISM decentralized identifiers, or the DID identity solution.
Atala PRISM is a decentralized identity solution that enables millions of people to own their personal data. Allowing individuals to interact with organizations seamlessly, privately, and securely. It is the key to powering the ‘trust economy’ globally and was developed by Input Output for Cardano.
World Mobile And Cardano
World Mobile’s vision for Africa also aligns with Cardano’s mission: to bank the unbanked. However, first, they must connect the unconnected, which is what World Mobile is doing.
A recently announced partnership between Cardano and World Mobile will lay the infrastructure foundations for a connected Africa, focusing on remote and hard-to-reach areas. So everyone gets an equal chance to access data services, no matter where they live.
They are starting with 100k new users in Zanzibar and Tanzania. Also, Atala PRISM identity integration to Cardano means plugging every new mobile user into Cardano, giving them a digital identity, and offering access to insurance, micro-loans, and a host of new services. Cardano will be providing real Defi for real people or, as they like to call it – “RealFi.”
These events are just the tip of the iceberg and the revolutionary first steps in delivering the all-encompassing strategy for #CardanoAfrica.
The next few months will be exciting as Cardano systematically goes through the Alonzo rainbow leading to the hard fork combinator event. There will be a lot of apps on the network and growing to a vast, vibrant ecosystem.
All Is Taking Shape; Now It’s Up To Us – We The People
Nearly three decades ago, the Internet enabled us to improve our lives with the availability and accessibility of information; however, it’s had its problems. As a result, tech giants have enormous power today where we have had to trust these companies leading to abuse of that trust.
Blockchain technology projects like Cardano and the Markethive social market network will bring a new wave of technological disruption on the trust level. They are helping to solve the issues we have in social media and the legacy financial system today.
The technological revolution will redefine the social contract. It happened with the introduction of the internet, and now it’s happening again because of blockchain. It will give people more power and control over their lives.
Technology is the tool that needs to be adopted by the people. For things to change, the revolution must take place at the social level. Technology alone will not bring about change in society for us.
All who see the bigger picture of what Cardano and Markethive and many other collaborating partners are doing to connect and unite the world, decentralizing and offering financial, self-sovereignty, and identity, will join us in creating a force for good, liberty, and freedom.
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.
BREAK THE CRYPTO LANGUAGE BARRIER – Crypto Lingo Defined
How familiar are you with the ever-evolving crypto phraseology?
Have you ever come across a crypto meme but have no idea what it means? We also see crypto-related news dominating just about every medium on the internet, with cryptocurrency and the technology behind it becoming more prevalent in our global society. But there’s a bit of a language barrier regarding the terms used, and it’s growing as new terminology is invented.
Considering the Markethive social market network has its Hivecoin as an integral factor at the core of its ecosystem and a source of income for its community, understanding the crypto-specific terms when introducing your referrals to your crypto interests is a good idea and a sign of your expertise, especially to those who haven't dipped their toe into the crypto world as yet. These people are called “no-coiners.”
So let's define some of the more popular terms, what they mean, and where they originated. Many of you may already know the crypto vernacular, but as I found while researching, there is much more to them.
Hold On For Dear Life – HODL
I’ll start with the most common cryptocurrency term, HODL, which is considered the acronym for “Hold On For Dear Life” and has become one of the core philosophies of cryptocurrency investing. HODL means holding on to your cryptocurrency for the long term and paying no attention to the short-term price action.
The truth is HODL was first introduced on the Bitcointalk forum in December 2013, when user GameKyuubi, with a few whiskeys under his belt, posted about missing the top of Bitcoin’s first bull run. He misspelled the word “holding,” so the post titled “I AM HODLING” quickly became a meme with respondents saying that they too would be HODLing their Bitcoin instead of actively trading it.
The people that HODL are called HODlers, and some intend to hold on to their Bitcoin until a single BTC is worth millions of dollars. Other HODlers intend to HODL until cryptocurrency becomes the new financial standard with Bitcoin as a global store of value. Therefore, see the fiat exchange rate of cryptocurrencies as irrelevant.
By contrast, people who can't handle huge swings to the upside or downside and sell instead are referred to as “weak hands.” Most of the weak hands are retail investors who are new to cryptocurrency.
Hodlers have no interest in the volatility and prognostication of pundits. They simply hodl, which helps them to counteract two common destructive tendencies: FOMO (fear of missing out), which can lead to buying high, and FUD (fear, uncertainty, and doubt), which can lead to selling low, which is occasionally referred to as SODLing.
HODL is most often used when the price of Bitcoin or another cryptocurrency suddenly drops or spikes. So when someone asks if you are selling your crypto when it reaches all-time highs, politely but firmly say that you are hodling. This may leave that person feeling some FOMO.
Fear Of Missing Out – FOMO
FOMO is short for “Fear Of Missing Out,” and in the context of crypto, FOMO is what you feel when you see the price of a coin or token that you don’t have in your portfolio reaching new ATH, which is an acronym for all-time highs.
Interestingly, FOMO is technically classed as social anxiety identified in 1996 by marketing strategist Dr. Dan Herman. It wasn't until 2004 that FOMO was coined by venture capitalist and author Patrick J. McGinnis, who subsequently popularized it in an op-ed he published while studying at the Harvard Kennedy business school.
If you've ever seen those Facebook ads that tell you there's a limited time to buy any given product, that's FOMO marketing. According to McGinnis, the only thing worse than FOMO is FOBO, or “Fear Of a Better Option.” FOBO is more relevant to no-coiners as it refers to waiting for something better to come along.
Widespread FOMO is also considered by many to be the second last stage of a bull market cycle which is why you see a lot of discussion around retail and institutional FOMO when talking about what's going to drive Bitcoin to its all-time highs. Some believe that measuring this FOMO is how you can time the top of a bull market.
Fear Doubt And Uncertainty – FUD
The opposite of FOMO is FUD which is the abbreviation of Fear, Uncertainty, and Doubt. FUD is pretty self-explanatory; it's what you feel when you see the crypto market crashing or see a viral news article about how Bitcoin is dead. People who spread FUD are referred to as fraudsters and of which the corporate media has been guilty.
In contrast to FOMO, FUD is not social anxiety but a propaganda tactic used exclusively in sales and marketing. Wikipedia notes that FUD is used most in “disinformation related to software, hardware, and technology industries.”
It was popularized in the 1970s and first used in its common current technology-related meaning by the prominent computer architect Gene Amdahl in 1975 after he left IBM to found his own company, Amdahl Corp.
“FUD is the fear, uncertainty, and doubt that IBM sales people instill in the minds of potential customers who might be considering Amdahl products.”
It makes you wonder what IBM is saying about crypto behind closed doors while shilling their centralized blockchains to hypnotized investors. Some people believe that big banks and tech giants sponsor a fair chunk of the cryptocurrency FUD you see in the news.
So the next time your no-coiner friend sends you another mainstream article talking about how cryptocurrency is going to be banned by U.S. Regulators, you can tell them that it's nothing more than FUD. A good indicator of this is that if whales and institutions are still buying despite the news, there's no real cause for concern. There are also many free online trading indicators to use to follow the trends.
Hopium
It’s essential to back up your beliefs about a cryptocurrency using solid facts and statistics; otherwise, you may be at risk of becoming a hopium addict. Hopium is an addiction to false hopes and is a blend of the two words “hope” and “opium.” It’s used to describe a fictional drug to help one stay hopeful in times of stress.
The term has been used among stock market investors to describe market investors who hold on to failing investments out of false hope, and more recently by Bitcoin investors in a similar way. Hopium was first used in December of 2010 by Zero Hedge’s Tyler Durden, who published an article criticizing Goldman Sachs for an opinion on the economy. In the piece, Durden uses the term "hopium" to describe Goldman's outlook as one based on false hope.
It has since been used in many investment articles and became a viral meme of Pepe the frog hooked to an oxygen tank labeled “hopium.” Hopium memes grew in popularity due to the 2020 US Election alongside another closely related portmanteau, “copium.”
Copium
Copium is a blend of the words “cope” and “opium.” A user of the Urban Dictionary defined copium as “a metaphorical opiate inhaled when faced with loss, failure or defeat, especially in sports, politics and other tribal settings.
Although the earliest known use of the word was by rap artist Keak Da Sneak in his 2003 album titled Copium, in 2019, it has become a popular meme with Pepe, the frog and used in various instances as a reaction to any given situation.
Shitcoin
Co-host of Unhashed Podcast, Ruben Somsen, is credited with defining what a shitcoin tweeting a shitcoin is “a coin that can be predicted to go to zero because of its flawed fundamentals, its creators and adopters deny all criticism and focus heavily on misleading marketing in order to extract maximum value from new “investors,” saddling them with the inevitable losses.”
Shitcoin was first used in November 2010 by Bitcoin talk user Gavin Andresen. He predicted and quoted that “if Bitcoin really takes off, I can see a lot of get-rich-quick imitators coming on the scene” and notes that shitcoin as being one of these imitator coins.
There are actually two literal shitcoins listed on Etherscan as ERC 20 tokens. Also, the FTX cryptocurrency exchange offers numerous shitcoin index tokens that allow you to “long” or “short” a basket of 58 altcoins. However, some may not agree with all the tokens listed.
According to the Shitcoin Graveyard, all shit coins are destined to become either dead coins or zombie coins. A dead coin is defined as a cryptocurrency project that its team has abandoned, has less than $100 of trading volume per day, and no longer has a functioning website.
Zombie coins are basically dead coins with relatively high trading volume. Keep in mind that the trading volume you see on many zombie coins is probably fake, especially if it's happening on lesser-known exchanges. It's also worth noting that a cryptocurrency can still be profitable even if it is a shitcoin; just be wary of the risks of investing in these sorts of projects.
REKT (or rekt) is internet slang for “wrecked,” meaning severely damaged or utterly destroyed and ruined. The term is usually used among the online gaming community describing a player (or team) that was defeated in an embarrassing or silly way.
Specifically, when used in the crypto community, rekt often refers to a person who has experienced heavy financial loss due to a wrong trade investment. The term can also refer to the cryptocurrency itself that nosedived in price or a market that dropped significantly, e.g., “the market is rekt.”
It is, however, worth noting that being REKT and truly losing money are quite different since rekt assets can bounce back. For example, back in early 2018, Bitcoin was rekt, yet it bounced back by year's end in 2020, reaching a new all-time high.
Shill has become a popular term in the crypto space and refers to a person who will promote a particular cryptocurrency, typically using baseless information, for their personal gain. Many crypto projects assign bounties for influencers who “shill” their crypto. A “Shiller” encourages others to invest in a cryptocurrency so that the interest grows, and people buy it, and the price of the coin or token increases.
The word “shill” didn’t originate in the crypto world. It is commonly used by casinos where collaborators (shillers) are given a stack of chips to play so that the other gamblers don’t have to feel alone in losing.
Shillers are often seen as fraudsters; however, what constitutes a shill is of personal opinion. Sometimes, we can see the use of shilling when a person makes damaging, occasionally false accusations about a specific cryptocurrency. A Shiller may want a competing crypto to fail so that theirs becomes more valuable.
Pump And Dump
A “pump-and-dump” strategy is a form of market manipulation that has been around long before cryptocurrencies existed. “Pump” happens when a coin or token’s attention and demand in the market goes up, leading to a price increase. Then, everyone “dumps” the cryptocurrency and sells, coupled with a spread of negative emotions towards it. This will result in big waves in the crypto’s value.
Like FUD, pump and dump is another tactic they use to manipulate the sentiments of the crypto market. In many cases, traders artificially inflate the price of cryptocurrencies with the hope of making a quick profit at the expense of other investors.
A simple rule of thumb to avoid pump-and-dump schemes is that you should never listen to one particular influencer’s opinions about investment decisions or price predictions. Instead, take in as many different views as you can, do your own research (DYOR). Always verify and validate market news and information.
Airdrops
Airdrop has become a central feature of the cryptocurrency space. It refers to the practice of crypto projects giving away free tokens to the public. This can lead to an increase in the project’s publicity and token circulation. It then gets more people trading it when it lists on an exchange.
As a marketing strategy, it raises awareness for their offering among the crypto community and generates initial buzz around a crypto project. This creates a win-win scenario because the crypto project gets low-cost (or free) marketing about their project, and you get free crypto tokens.
An example of a crypto project doing airdrops is Markethive, the next generation social market network, with its infinity airdrops and micropayments. As a member of the Markethive community, whenever you refer someone, you currently receive 500 Hivecoin.
Also, your referral receives an equal amount upon joining. Once qualified, a member continues to receive micropayments allowing the ability to accumulate coins. Among many other of Markethive’s initiatives, this ultimately creates an entire ecosystem.
In Closing
There you have it. Just some of the key crypto slang terms, and you’re likely to come across many more, along with new words and acronyms that will find their way into the crypto world as the industry evolves. To check out a few more, visit cryptocurrencyfacts.com. Cryptocurrency slang is a handy thing to know, and knowing where all these terms came from really highlights just how far the crypto asset class has come.
HODL is really much more than some whacky acronym that is bandied about. It's symbolic of the sort of mindset and grit you need to have to brave the volatile crypto market. I’m sure we’ve all had weak hands at some point, nor are we immune to FOMO or FUD, but if we keep our head down and focus on the fundamentals, we’ll rise above it.
There is a saying that goes:
"Where focus goes, energy flows."
If you are focusing on the "crazy" daily fall in your portfolio, it will throw you off and consume you.
If you decide to focus on the fantastic ways cryptocurrency is transforming our world, you will be content in your investment decisions.
I hope that being familiar with these terms will help you educate others about cryptocurrency. Of course, knowing the history and law behind them will make the explanation of these terms that much more interesting to your no-coiner friends.
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 information contained in this article is for informational purposes only and not to be construed to be financial, legal, or investment advice.
Before we get into what defines a digital or alternative currency faucet and how you can accumulate crypto in Markethive, let’s first go back to the beginning of the Bitcoin network to provide some historical background for those who aren’t familiar with Bitcoin or cryptocurrency jargon.
For many, navigating the realm of Bitcoin is commonplace; however, there are still many people who, although they may have heard of Bitcoin, know very little about it. It’s hard to imagine, but some haven’t even heard of it.
The Genesis Of Bitcoin
On January 3, 2009, Satoshi Nakamoto launched the Bitcoin network version 0.1 (“Genesis Block”), the world’s first wholly decentralized cryptographic financial structure. Nakamoto “mined” the initial 50 BTC from the Genesis Block of the very first blockchain and from which all other Bitcoins have sprung.
Widespread speculation is that Satoshi Nakamoto does not exist, at least not as an individual. This moniker is more than likely an anonymous “alias” or an assumed name taken by the person who created Bitcoin or perhaps even stemming from a group effort, with all members opting to remain anonymous.
Certain people quickly recognized that it would be wise to get some “if this catches on,” as early users could become very rich. It was estimated that if Bitcoin would become the global reserve currency, each Bitcoin could be worth as much as $10 million – that price prediction is per EACH Bitcoin!
Fast forward to May 18, 2010, which is when it’s been said the first actual monetary purchase with bitcoin took place when Laszlo Hanyecz offered 10,000 for anyone who would order him a pizza, and someone did. The value of each Bitcoin in this instance was approximately $0.0025. At today’s BTC value, the 10,000 coins in the example would be worth over $346 million.
What Exactly Is A Faucet?
A bitcoin or alternative cryptocurrency (Altcoin) faucet is either a website or an app that gives out free bitcoins, which appeals to and attracts users by rewarding them with Satoshis. Sats, the abbreviation for Satoshi, is the smallest unit of the bitcoin currency recorded on the blockchain. It is one hundred millionth of a single bitcoin (0.00000001 BTC).
The unit has been named in collective homage to the original creator of Bitcoin for completing simple tasks as described. These assignments typically require little human maintenance or intervention to administer while producing results. This is an excellent way for people to “get their feet wet” while earning BTC, all without risk. This “try before you buy” introduction allows new users to experiment risk-free before putting in any real money.
Faucets provide a practical way to popularize cryptocurrencies while attracting new users. The first bitcoin faucet (The Bitcoin Faucet) was created in Mid-2010 by Gavin Andresen. This first faucet initially gave out five bitcoins per person — worth around a penny in 2010 but worth about $173,000 today.
Since then, the number of alternative cryptocurrencies or Altcoins has become available and stands at over 4000 and growing. Many have lost their luster and won’t survive or at least won’t increase in value. The few stronger ones with a purpose and underpinned by solid technology will survive and have created a faucet system.
What Is The Purpose of a Faucet?
Faucets can help with the orientation of those individuals who are new to cryptocurrencies such as Bitcoin or other Altcoins. The bulk of faucets provide education and instruction to new users while giving them some free coins to “earn as they learn” without risk.
This allows for practice with one or more “test runs” before they feel comfortable enough to move forward, putting in their own money. Since this whole “adventure” is relatively new and overwhelming or confusing to newcomers, the faucet provides a valuable way to promote the use of cryptocurrencies while at the same time attracting new users.
Faucets are heavily trafficked sites. It is not challenging to get a vast amount of page views and visits per day to any website handing out what represents money for free. A faucet can also provide a terrific way to promote other products, services, or content, especially to new users.
It’s one thing to create a well-liked faucet to attract new users while maintaining their existing database in a highly competitive market. However, without promoting extra value to the site’s visitors and users, it’s almost impossible even to make enough to cover the expense of the coins you are giving away.
The only natural way to generate profit from a faucet is by seeing needs and trends in the marketplace (namely online via the internet) and offering something additional to the unique and valuable users. This can make a site particularly attractive, setting it apart from all the rest while creating much in the way of value for users. If done right, this can also get the site to go “viral,” as news spreads very quickly via the net.
Conventional Wisdom: A Referral System
It’s commonplace for faucets to have some sort of referral program, where even more is given away. Existing users who refer new ones are rewarded with either a prorated amount of the new users' earnings from the faucet or some sort of pre-determined set amount by way of a matching bonus.
The creation of a faucet means establishing a payment processor or, in this case, a cryptocurrency wallet. A cryptocurrency wallet stores the keys (public and private) which can be used to receive or spend a cryptocurrency.
Once created, the faucet owner then loads some bitcoin or other alternative crypto coins into their wallet. Then, payments for users are distributed to each person’s appropriate wallet, according to the site’s rates as outlined. These payments can then be transferred and converted into fiat currency, creating liquidity.
The primary revenue source for faucets is marketing/advertising. Faucets attempt to acquire more users by giving away free coins for motivation. Some advertising, marketing sites, or networks will pay using bitcoins or other altcoins. In and of themselves, faucets usually provide very low-profit margins or ROI. Some faucets also make money by “mining” altcoins in the background.
Markethive Taking Faucets To Another Level [HIVE]
Markethive Airdrops
Markethive is determined to take a large share of the new Market Network next-generation following the Social Network phenomena. That Market Network is defined as a platform that is integrated with a social network (like Facebook), SAAS tools (like GoToMeeting, ZOOM, and Google Apps) commerce platforms (like eBay, Freelancers, Coinbase, Alibaba).
Markethive has created its consumer coin, Hivecoin (HIVE), originally named MHV, as an instrument to their Ecosystem for Entrepreneurs. So Markethive will establish their niche as the only social (Market) Network with an infinity Airdrop and a system that rewards the users for using it with additional micropayments, otherwise known as a Faucet.
Bottom line, by joining Markethive, you will get a Market Network Inbound Marketing platform worth $2500 per month for free and get “Airdropped” paid up to 500 Markethive coins [HIVE] just for joining. And continue to receive these coin assets for the duration of your life within the hive.
Markethive Faucet System
The Markethive platform pays you micropayments of HIVE, similar to faucets. After you have 3+ people subscribed to the free Markethive Network via your profile page, the faucet micropayment system activates. From there on, all activity within the system pays you small but consistent coinage to your wallet daily.
Since the entire system runs on Markethive coin (HIVE), you can expect the coin value’s volume demand and increased velocity to drive coin value accordingly. This is one of the main reasons we refer to our system as a legitimate alternative to universal income, based on ethics and integrity, not government-mandated theft and graft.
Notably, it is not just another payment service provider other Social Media platforms have adopted. You earn or receive bounties in Hivecoin, and now is a perfect time to accumulate your coins. Once listed on high-profile exchanges and ultimately the Markethive Exchange, you’ll be able to convert it into the currency of your choice as well as transact with it within the Markethive ecosystem. The initial Markethive Wallet is in the process of being released once we are fully integrated on Cardano’s main blockchain.
Get Paid to Learn
Markethive is genuinely dedicated to your education, success, and sovereignty. Not only have we have made the Inbound Marketing Platform free (Compared to Marketo, which costs as much as $25k per month), we pay you up to 500 coins just for joining.
You receive micropayments just for using the system after you have qualified by signing up three new subscribers (similar to faucet systems that pay out micro amounts of Bitcoin). We also pay you for taking our tutorials (no qualifications required, and each lesson you complete, you receive an accolade on your profile and coin in your wallet). How cool is that?
Conclusion
Markethive’s Hivecoin will not depend on speculative value as is the case with other cryptocurrencies and platforms, thereby creating eternal economic velocity in the entrepreneur ecosystem within Markethive. This is a fundamental difference from the other systems currently out there today. The Markethive system has been developed to produce revenue in the traditional sense, with the added benefits of the blockchain taking it to the next level.
The Faucet system is a reward system similar to the Hive Rank but earns you coins for your activities. As I mentioned earlier, the first Faucet invented was the Bitcoin faucet launched by Gavin Andresen, one of the earliest Bitcoin developers, in June 2010. At that time, Bitcoin was about 8 cents. It gave out five Bitcoins a day until 2011 when it ran out of coins.
Markethive has embraced this reward system and applied it to the many marketing and communications aspects within Markethive. The big "WHAT IF?" is; in 10 years, will Markethive coin have a similar rise in value? I will let you ponder that ageless question.
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.
Now that we understand cryptocurrency fundamentals and are busy creating our ecosystem at Markethive, there’s a craze that has emerged in 2021, and it’s a thing called Non Fungible Tokens or NFTs. Although NFTs are not new, they have only recently become more popular among blockchain enthusiasts, artists, and collectors.
To some, the cryptocurrency booming NFT market makes little sense at first glance. Nobody in their right mind would shell out millions of dollars for an NFT, yet this is happening almost every day. As it turns out, there is much more to NFTs than meets the eye, and some of these NFTs are only beginning to realize their fair valuations.
What Is An NFT?
NFT is the acronym for Non-Fungible Token and is described as a unique digital asset or a digital representation of an asset that stores information about that asset on a cryptocurrency blockchain. This makes it permanent; it cannot be replicated or counterfeited, and ownership is provable.
NFTs are created using Smart Contracts, which are essentially self-executing computer applications that cannot be modified once they've gone live. Depending on the smart contract conditions, it can allow for the creation of one or multiple NFTs of the same or similar kind.
NFTs cannot be counterfeited because the blockchains they exist on are almost always publicly viewable and transparent. This means anyone can check if an NFT came from the smart contract belonging to the person who originally created it or from a different smart contract made by some imposter.
The openness of cryptocurrency blockchains is also what makes ownership of these NFTs provable; you're able to easily see which wallet address is holding the NFT token you’re in which you’re interested.
NFTs have technically been around since 2012 when colored coins were introduced to Bitcoin. These colored coins made it possible to add unique attributes to specific BTC coins to represent currencies and expensive artworks.
Today, NFTs are more commonplace on Blockchains that utilize smart contracts as they do a much better job of minting and managing unique digital assets than Bitcoin. There are growing communities of NFT marketplaces and creators on several artworks blockchains.
Almost anything can be represented by an NFT, including artworks, title deeds, web domains, collectibles, audio files, and even people’s identities and tweets. Ownership of the NFT can signify ownership of the asset it represents, though not necessarily the copyright to that asset.
How Do Fungible And Non-Fungible Tokens Differ?
The difference between fungible and non-fungible is that fungible tokens can be freely exchanged with another asset of the same denomination. For example, one bitcoin is worth the same as another Bitcoin regardless of who’s wallet they're in or what price they are trading. Any fungible coin is exchangeable and interchangeable with another fungible coin.
Non-fungible assets have a unique value. Sports trading cards are a perfect example; One card can be deemed more valuable than another and be sold at a higher price because it’s perceived as more valuable to the collector.
Crypto Punks and Crypto Kitties are other NFTs are selling for over $100,000, and if you want to get a sense of how big the NFT market is, go to nonfungible.com. There, you’ll find the trading volumes of many popular NFTs, including Decentraland and Sandbox.
Jack Dorsey, CEO of Twitter, sold his first tweet on Twitter as an NFT for over $2.9 million, and the most expensive NFT sold for $69.3 million by Mike Winklemann, more famously known as Beeple.
So the question you might be asking yourself; who is buying this stuff and why?
Simply, it’s human nature to want to collect things, which has been the case since the beginning of time. NFTs represent the same obsessions that people have always had with owning certain things they perceive to have value. Some people get tremendous satisfaction by holding postage stamps and are willing to pay considerable sums to fill gaps in their collections.
From a purely economic standpoint, when something is scarce or unique, it makes it open to having a lucrative price tag regardless of whether it has any objective utility or value. The Italian guy who sold the banana he duct-taped to a wall for $120,000 certainly proved this point.
Constructive Force Of NFTs
To some, NFTs may seem nonsensical and a bubble about to burst, but they do have the potential to be a force for good, allowing artists to profit from their work without the intervention of middlemen like dealers and galleries. Because NFTs are built using smart contracts, they can be coded to ensure that, when sold, the creator can automatically be granted a percentage of the profits. In this way, artists can continue to earn a living from their work.
An example of this isAudius. Audius launched in September 2020 and made it possible for artists to stream directly to listeners while keeping the significant share of the money they make and are giving Spotify a run for their money with already over 3 million users.
Another excellent example of NFTs with utility and value is blockchain domains. Unlike regular web domains, blockchain domains cannot be censored or taken offline because they are hosted on a decentralized blockchain instead of a centralized server.
Some blockchain domains like .crypto also don’t have any renewal fees; it’s a one-time payment and yours for life. Notably, blockchain domains make it possible to accept cryptocurrency payments without a complicated wallet address. You can use a name of your choice instead of a random set of digits.
Now, even though some of these NFTs have objective utility and value, it still doesn't justify the astronomical price tags you see for many of these. This just proves that most of the interest around NFTs currently being seen is caused by hype. And that most of the people presently buying NFTs have very deep pockets and probably too much free time on their hands. Arguably, most are looking to make a quick buck by selling and or reselling NFTs.
There are even YouTube channels dedicated to flipping Crypto Punks or flipping plots of land on the Decentraland marketplace. There's also no shortage of video tutorials to help you mint your own NFT. If you want to go shopping for NFTs, your best options are Rarible and Open Sea. You'll find just about every kind of NFT on these sites, including art, blockchain domains, virtual land, digital trading cards, and other collectibles.
If you want to browse tweets as NFTs or even mint your own tweets as NFTs, you can use the valuables site. Now before you dive into the NFT deep end, there are a few things you should know about the NFT market.
Things You Should Know
Unless you're buying an NFT from a well-known artist, like Beeple, it can be tough to tell whether the NFT you're looking at has any real value. In theory, you can check this by reviewing the “sell history” of that NFT to see if there's any demand for it.
However, many sellers are minting NFTs and then buying them from themselves using other Ethereum wallets that they own. This creates an artificial sell history and gives you the impression that the NFT you're interested in has some market value. It's basically a solo version of the wash trading you see on many sketchy cryptocurrency exchanges.
There are also a lot of sellers on NFT marketplaces pretending to be museums and art galleries. Sometimes they're even marked as a verified seller because they link to a dummy account on Twitter. These fake museums and art galleries sell high-quality images of semi-famous artworks found on Google as NFTs for a nice profit.
Besides the risks mentioned above, there are a few others to keep in mind. The NFT market is clearly in a bubble, and unlike the crypto Market, there's going to be little to no support on the way down. This is mainly because the NFT market isn't liquid, and there's also no definitive way to determine the fair value of an NFT.
A safer alternative to NFTs is the tokens that power their various marketplaces, but still, most of these NFT project tokens are in bubble territory. Both Coinmarketcap.com and Coin gecko have designated tabs for NFT project coins. There are a few marketplaces pundits are watching closely.
Audius As mentioned earlier, the Audius decentralized streaming platform is on their list. It’s common knowledge that musicians have been getting squeezed by record labels and streaming platforms for years, even decades. This pandemic certainly hasn't helped things either. Audius is a platform for artists to stream directly to listeners and keep the lion’s share of the proceeds.
Although Audius has an excellent value proposition, there is an issue with its tokenomics. The Audio token has a supply of 1 billion, with a 7% annual inflation rate, and only 5% of Audio’s initial supply was airdropped to artists and fans. The other 95% has been allocated to the team and private investors and seen as a red flag.
Chiliz Chiliz has a great value proposition and is just as good as Audius. Holders of the $CHZ token can purchase fan tokens for sports teams such as FC Barcelona, a fan token called FCB. Also, holders of Chiliz fan tokens have a say in how their respective sports teams are managed.
Most of these tokens are traded on the Chiliz exchange against $CHZ. Chiliz is expanding in terms of partnerships and adoption, and there seems to be much more to Chiliz than just the fan tokens.
Decentraland
Decentraland is a VR platform powered by Ethereum. It allows users to claim parcels of LAND in a virtual world where they can create content, build applications, and then monetize them. In Decentraland, you can buy, sell, trade, and even create an NFT that can be used within this virtual world.
In contrast to Audius and Chiliz, its MANA token has more robust tokenomics. It is said to be one of the most transparent and equitable distributions out there. No single wallet holds a concerning amount of the total supply.
Decentraland has limited plots of virtual land, which have sold for over six figures in the past. The strength of the MANA token comes from the fact that it's burned when a purchase of land takes place and burned when paying for fees for other Marketplace transactions.
MANA token burns will grow as it continues to onboard users and secure new partnerships like the recent one with Atari, bringing virtual cryptocurrency casinos to Decentraland.
Giving it more weight is that Grayscale Investments, the world’s largest digital currency asset manager, has recently incorporated an investment trust for Decentraland and the MANA token.
Theta
Theta is a decentralized video streaming protocol that will likely rival YouTube, the same way Audius is likely to rival Spotify. If you think that’s a bit far-fetched, consider that Theta has partnerships with Google and Samsung and recently partnered with Sony's European arm.
Unlike other cryptocurrency partnerships, Theta’s affiliations are very real. Case in point; Theta.tv is embedded into Samsung Daily, which came pre-installed on over 75 million Galaxy smartphones that authentic people are currently using.
Furthermore, Theta token probably has the best tokenomics of any NFT related project. It has a fixed supply with no inflation, and 100% of that supply is also technically in circulation. Theta has consequently seen very little resistance in its rise from five cents to over $6 over the last year.
The State Of Play
The NFT market’s popularity is at an all-time high at the moment, but it’s only a matter of time before that bubble bursts. The aftermath will show that the projects with real value will be the ones that survive like blockchain domains, among others, and also some NFT art. There are currently talks to create virtual museums and art galleries for the pandemic-stricken legacy art industry where valuable art pieces are collecting dust.
The possibility of showcasing NFT art in real life in your home using augmented reality is discussed in this article and the obvious next step from virtual NFTs. But what about NFT and Defi? Believe it or not, it’s starting to become a thing. There are already peer-to-peer marketplaces like NFTfi.com, where people can use their NFT as collateral to borrow stable coins.
Like the fungible crypto coins, we need to identify the utility and purpose behind these NFTs and marketplaces and beware of sketchy or scammy projects. The many industries like sports, gaming, collectibles, art, and music are all starting to embrace NFTs.
The idea of owning something entirely digital may seem crazy to some of us, but to those who already spend large amounts of their lives online in one form or another, becoming a second home, it just seems natural.
Just because something doesn’t physically exist doesn’t mean it can’t be owned or that someone else might someday be willing to buy it from you for more than you paid for it. Although having said that, expect sales of digital photo frames to start going through the roof.
A recent survey conducted with millionaires revealed a generational divide when it comes to non-fungible tokens (NFTs). While most millionaires say they don't know what an NFT is, more than a third believe it to be an “overhyped fad.” But a good two-thirds of millennial millionaires say NFTs “are the next big thing.”
Nearly half of millennial millionaires surveyed own NFTs, and 40% of those who don't currently own one have “considered” it. Comparatively, almost all the baby boomer millionaires, 98%, say they don't own any NFTs and aren't considering either.
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 information contained in this article is for informational purposes only and not to be construed to be financial legal or tax advice. Any NFT’s mentioned in this article should not be interpreted as a sign of support.
MARKETHIVE’S NEW INTERFACE – AN INITIAL OVERVIEW ILLUSTRATED
An innovation that is set to change the way we work and interact online.
The Markethive Social Market Broadcasting Network becomes more prominent daily as the blockchain-driven ecosystem for entrepreneurs with a non-adversarial, bi-partisan free speech ethic and the collaborative culture we rarely see on social media platforms today. Even the newer acclaimed free speech platforms are partisan to the left or right and deal with deplatforming and boycotts from payment providers.
It’s widely notorious that the actions of the tech giants have divided nations and are the source of countless societal harms, including rampant censorship, promoting violent extremism, spreading false information, and unfairly stamping out its competition.
Instead of improving the user experience to one that users would welcome, legacy big tech is somewhat distracted by its self-induced problems. It’s now under scrutiny by government policymakers with the overall consensus that something should be done to reign in the centralized power or structurally break up the technocracy.
To circumvent this, Facebook is focused on updating the internet with new regulations to appease critics and leverage its new Oversight Board, while Twitter grapplesat the idea of integrating a more decentralized approach to the platform, specifically giving users an algorithmic choice by opening up its news feed to third party algorithms selected by its users, which could undoubtedly customize the user experience, but still be under a central authority.
Markethive Goes Next Level
Known for its evolutionary and innovative ethos, Markethive continues to expand its decentralized “all-in-one” platform with the development of a unique news feed interface that completely embodies the user experience (UX) in the framework of “don’t make me think.” A concept brought to light by author Steve Krug, a usability expert, cites that usability is fundamentally about human psychology.
The book “Don’t Make Me Think” was first written in 2000 and revised in 2013. Since the turn of the century, technology has changed rapidly. Yet, the principles in the book remain the same because something is only considered usable if an average person can figure out how to use it to achieve an outcome without it being more trouble than it’s worth. Krug breaks this down into three laws as shown in this infographic below:
Key Quote
“Usability is about people and how they understand and use things, not about technology
…while technology often changes quickly, people change very slowly.”
Once it is understood how the human brain works, these same insights can continue to be applied even as technology and landscapes evolve. So usability is not just about technology; it’s about understanding how people think and behave to build better things, giving the user a more seamless and more straightforward experience when navigating.
Unlike the social media giants, which only have one primary news feed that is algorithmically set by the central authorities, Markethive is introducing four news feeds to accommodate the multi-functional platform within the Markethive ecosystem. The individual feeds are General, Video, Blogging, and Content Curation. They are all accessible from the main page and can be algorithmically set by the individual user.
The scope that Markethive has is enormous as it integrates all the vertical systems of the other platforms under one roof.
Social + Video + Blogging + Marketing + Curation + Broadcasting = Markethive.
It’s a monumental project that can be overwhelming for the average person. It’s no wonder social media platforms are predominantly single-function and centralized. Technology has advanced with Blockchain, and Crypto is becoming ubiquitous and gives rise to the decentralized, privacy, and autonomy components of social media. Something that the established dinosaurs would find near impossible to integrate at its highest level.
Enter Markethive, and although it has enjoyed longevity, it can integrate cutting-edge and unique systems. It is next-level, delivering every function and aspect available, fitting for the entrepreneur, business, and corporation. A clean design, not cluttered, intuitive for easy navigation, and simple to carry out tasks for all users on every level is crucial for website stickiness and the overall success of our entrepreneurial users.
The New Main Page Interface Explained
The following images are a basic mockup or draft, subject to enhancements, to give you an idea of how the new main page will look with the various news feeds and menus. It is definitely something to look forward to upon its integration.
As quoted by CEO and Founder of Markethive, Thomas Prendergast,
“We are making major changes right now to the entire layout and aspects of the system. New look, better navigation, rebuilt Page making system, improved alert system, all in preparation of the Wallet.
Understand this major uplifting has been in the works for several months, and we are close to its completion. Along with this are new upgrades, The Boost, The Wheel Of Fortune, The Premium Upgrades, etc.”
The format is horizontal, not vertical, like many other websites making it more readable and less time-consuming in terms of navigation. The vertical side menus are gone, along with the busy text in the blue bar.
At the top of the main page are the Super Banners. This is prime real estate and specifically for Markethive, the company. There are currently three banners to be displayed in this space;
The Wheel Of Fortune
The Entrepreneur One Upgrade (while they’re still available)
Acquire Your Own Golden Goose – ILP
Anyone else inside or outside of Markethive wanting to place a banner there will pay top dollar.
The real estate below the blue bar is for the markethive community and placement of their banners.
Compress Banner Real Estate
The X in the top right corner, when clicked, removes the Banners and tray, allowing the HTML editor and news feeds to move upwards. Clearing that real estate gives you more space to work, which can be very handy on a small screen like a mobile or tablet.
This feature is for Entrepreneur one upgrades only, so the X will only be visible to upgraded accounts. The banners and tray will continue to be hidden while the user is active within Markethive. They will return and be visible once the user becomes inactive for 30 minutes or more or logs out.
Floating Banner Ads
There will also be Markethive floating banner ads which can be closed for a thirty-minute period unless you’re an upgrade, in which case it stays closed for the duration of your stay. If clicked on, it will take you directly to the area any given banner stipulates. For example, the Wheel Of Fortune floating banner, shown in the image below, will take you directly to the shopping cart.
There are numerous floating banners, as described below, that will sequentially be displayed, giving you easy access to wherever you choose to go with just a simple click on the banner.
Wheel Of Fortune. Every spin is a winner.
Banner Impressions Exchange. (BIX) It takes you to the exchange
Acquire Your Own Golden Goose – ILP. It takes you to the shopping cart. Payments in Hivecoin.
Entrepreneur One Upgrade. It takes you to that dedicated shopping cart
Community Support. It takes you to the Telegram Markethive support channel until we integrate a customer support portal within the Markethive system.
Markethive Tutorials Get Paid To Learn. Currently in development and will be covering the fundamentals of the Markethive system through setting up marketing campaigns, video, and influential marketing.
Multiple Pulldown Menus
Multiple pulldown menus will be replacing the side menus on the main news feed page and the profile page. These are now all accessible on one page on the blue bar under Settings, Shopping Cart, and the Notifications bell icon also named Alerts Control. This allows you to configure the blue alerts bar and provides click menu navigation.
All the settings displayed that could only be accessed on the left of the profile page are now accessed on the main interface, including general profile page settings, payments, Vault, ILP purchases, login account, social accounts, and hive ranking. This makes it a lot easier to navigate and is much more intuitive.
There is also a pull-down menu under Shopping Cart that displays the status of your cart (whether it’s empty or has items pending in it).
The shopping cart menu takes you to the Markethive store and the Advertising services, which are strictly for the Markethive Press Release program, the Boost, social network broadcasting, digital banner advertising, and video advertising. As these services are introduced, you will find them in this pull-down menu.
A series of upgrades will also be displayed under the shopping cart. Currently, there is the E1 upgrade and soon to be added the Apprentice Upgrade, which will be renamed the Premium Upgrade. There will ultimately be multiple levels of premium upgrades which will all be located in the shopping cart pull-down menu.
For the purpose of this article, the image below displays all pull-drown menus opened and can be accessed by clicking on their respective icon.
Combined News Feed – The New Innovation
Now for the pièce de résistance and Markethive’s claim to fame. The combined news feed interface is a first in the social media environment. It includes the four primary feeds being the general Newsfeed, Blog, Video, and Curation feed.
So what’s the big deal about a news feed?
The news feed is the heart and lungs of Markethive. Everything around it is the bones or structure of Markethive. It all starts at the center, being the newsfeeds and works outwards and is the dashboard or control center, where every aspect of Markethive is easily accessible.
The combined pulldown menu also includes the Groups feed, Campaigns, Games, Store, and Email feed which can also be set algorithmically by you. You choose what and who you want to see in your combined news feed.
You can choose only to see what you’ve posted, select by geo-location, friends, Tube feed, Blog feed, Group feed, etc. You can access these configuration tools in the tray just above the HTML editor, housing the stats tools, tracking devices, posting tools, sorting and filtering tools, editing, and upload tools.
Posting in a news feed has become a lot more exciting with the ability to stylize your text (bold, italics, text size, font type, hyperlinks) add embed videos and images, similar to the current blog editor.
Whatever task you do, you will access it from the combined feed pull-down menu. For example, if you want to upload a video in the Tube Feed, it will open up the tool page for you to upload it.
You do not leave the main page for any task you perform. This is where you access all your interfaces. E.g., The video upload interface, the blogging platform, the curation control panel, etc. You will be able to add, edit and monitor everything you do right from the main page.
Whatever you choose to see in your combined feed will be displayed: Videos from the Tube Feed, Blogs, Capture Pages, Groups feed, General postings, everything will be displayed on the page.
You will also be able to subscribe to any post in your news feed right from the main page. Each post generates a permalink that will show when the post is broadcasted to other social media sites, displaying the profile page with a summary of the post as illustrated in the image below.
The comments are also displayed in the permalink popup. When clicked on to view or comment, it’ll forward the viewer to Markethive. If the viewer is not a member, a registration banner will pop up inviting them to join Markethive.
Clicking on the permalink also allows the viewer to peruse your other posts. You can also tip and comment on the post on the main newsfeed page or the permalink popup. The timestamp displayed next to the permalink will show the hour, day, month, and year. No more wondering what year the post was posted!
In Closing…
Everything is at your fingertips on this one page, making it very intuitive and mobile-friendly. The dynamics will change completely, and you won’t have to navigate to individual pages within the Markethive system. All configuration, filtering, and searching are done right from the combined news feed interface.
Posting any of your content remotely, whether it be blogs, videos, or general newsfeed posts, will be made instantaneous and straightforward with the new interface. Markethive will be infiltrating every corner of the internet universe and become a household name.
The whole interface is streamlined and purposely created in a horizontal fashion with minimal to no advertising, so it is not overwhelming for the average and new user. So many websites, blogs, and digital media articles are so cluttered up with vertical side columns and advertisements, making it annoying and virtually impossible to read or comment on the site.
Markethive has always been a pioneer and ahead of the curve, initiating a social network before social media became a thing, starting with Veretekk in the nineties. It is a Divine inspiration, a vision that is coming to light. It’s one of integrity and can command authority with its clean, polished new look and navigation.
So what we have here is an outline of just part of what’s coming in Markethive. There is much more to this monolithic concept and project, and all of this is discussed at the Markethive meetings every Sunday at 9 am Mountain Time. (MDT)
So what time is it in your part of the world?Go here to find out. The doors to the meeting room are closed 5 minutes after commencement. Latecomers are denied access, so get there early.
You can keep yourself up to date with the latest news and developments of Markethive as they happen. To access the meeting room, go to the Calendar and click on the link provided. See you there!
A special thank you to the founders Thomas, Douglas, and Annette for their insights, inspiration, and dedication to bring the next generation social market broadcasting platform, far removed from the chaos of the legacy tech giants. A completely, decentralized ecosystem, impervious to the tyrannical forces that have subjugated humanity. Welcome aboard to all and be ready for an exciting transition and transformation of Markethive.
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.
You may have noticed, we’ve recently entered into a downtrend in the crypto market, with Bitcoin, the digital gold store of value for all cryptos, now traveling sideways, staying in the range of 33k to 40k. According to crypto pundits, it seems to be a textbook accumulation pattern of institutions, as explained in this video about the Wyckoff method.
These downtrends, corrections, and consolidations are the principal dialogue that people tend to focus on. The novices cash out driven by fear while the knowledgeable and experienced ride through the crypto storms and manipulations.
In a recent video, Charles Hoskinson, CEO, and Founder of Cardano, emphatically expressed that he mostly ignores the markets because the markets are macro. They can be very frustrating as an entrepreneur and project leader committed to creating, building, and executing new, in many cases, life-changing concepts.
In the video below, Charles speaks passionately about what really matters.
Crypto Industry Is Maturing Shifting The Macro
Before the GFC of 2008, life was great for many outstanding business people, did all the right things, had solid relationships with their customers, and always honored their commitments. Then along came the GFC, and many got wiped out because the macro moved against them.
For a long time, the crypto industry has also been this way. In 2017/18, we saw a significant bear market, and many got hurt. It was a case of; if Bitcoin goes up, everybody goes up. If Bitcoin goes down, everybody goes down, and it was very depressing for numerous entrepreneurs.
It doesn't matter what technology you have, what you've accomplished, or the deals you've done, the announcements made, whatever it might be, although there can be some counter-cyclic play, for the most part, these markets are driven in that direction.
But in 2020/21, things are turning around, and, interestingly, this is the first time we've noticed significant counter-cyclical movement, where Bitcoin dominance has fallen tremendously.
Currently, Bitcoin dominance is sitting around 42%. Basically, that's the percentage of all the totality of market cap Bitcoin owns, relative to all other cryptos. We’ve also seen that institutional preferences have not been unilaterally Bitcoin followed by everything else.
People are starting to differentiate proof of stake from proof of work, and we're starting to see a separation of things. The industry is maturing, and we see where Bitcoin falls short, and others in the industry are improving the technology.
Cardano, with its Ouroborous, along with Elgorand, Solano among others, will get it done as an industry where they are all on par for building remarkable engines that will process billions of transactions every year, containing trillions of dollars of value collectively.
Furthermore, the Cardano blockchain can accommodate the trillions of data a social media and marketing platform generates while upholding privacy and autonomy in a totally decentralized environment, which is why Markethive, the social market broadcasting network, chose to build its blockchain on Cardano.
Markethive is an ecosystem for entrepreneurs that will include financial transactions into the billions with its Hivecoin. This technology will benefit the Markethive community greatly and create a sovereign system for the global community in this precarious world.
As Charles states,
“We're future-proofing programmable finance, and this financial operating system is going to be social, it's going to be institutional, and it's going to be Fortune 500. It's going to run nation-states at some point. It's inevitable. We're making it a better place and I love the fact that I get to do it with a smile on my face.”
He goes on to say that this is the reality because we're coming from a siloed world. We're coming from a controlled, top-down world. We're coming from a fragmented world that's incredibly exclusive for certain people. A small group of people gets to decide everything, and nothing is working.
We have negative interest rates, hyperinflation, massive deficit spending, completely unaccountable banks, and financial systems that are super fragile and too-big-to-fail. Corruption, nepotism, and doublespeak are everywhere.
As a matter of interest, if you were a US citizen and you got that $1,200 stimulus cheque last year, it would be worth about $1,150 in real terms now. However, if you had invested in Bitcoin, it would be worth over $6,500 (and that is even with the recent dip). Likewise, if you invested that money into Markethive or Cardano, you will be one happy camper in the months to come.
So there's an inevitability to the crypto, blockchain industry en masse, and there's a maturing of our industry, by and large. The diversity in the markets and the distributions in the markets, the vibrance of them, and their volatility represent that.
Over The Next Ten Years
Over the next ten years, there will be more advancement in monetary policy from the crypto industry than in the last hundred years of central banks. There will be more advancement in financial engineering, construction of financial products, marketplaces that trade them than the previous hundred years from Wall Street and other world stock markets combined.
There will be more movement of wealth, 24/7 on the crypto rails than through the BIS and fixed protocols and other things that are the staples of the financial world. There will also be more automation and innovation, open law, and automated law and regulation in our industry than in the last hundred years of international agreements that have occurred.
The vast majority of the following two billion people that enter the world financial system will be brought into our system from the cryptocurrencies phase. That's where we're at and what this industry is all about, and why so many prodigious people in this industry work incredibly hard every day.
Unlike the past cycles in 2017/18, we're now in a situation where we've decoupled from Bitcoin, and people are starting to realize that while that was a great innovation, it's not the be-all-end-all; there's more to the story.
And unlike the past, the macro is starting to actually move in favor of altcoins with meaning and purpose instead of just being these weird, composite cyclic maneuvers.
Charles says,
“We will move beyond an industry that is deathly afraid of a 60 billion dollar stable coin being solvent or not. We're going to move beyond an industry that's definitely afraid of a hash rate falling because a single nation-state makes a stupid decision to ban mining or not. We're going to move beyond that”.
All In A Life’s Work
Thomas Prendergast, CEO and Founder of Markethive, and Charles Hoskinson of Cardano has a humanitarian and vested interest in the developing world of Africa and alike, highlighting the use-cases of the unbanked; however, by no means is this exclusive to developing nations. The reality is, we are all entitled to and deserve economic sovereignty and identity that is being taken from us.
Banks, overdraft fees are taking it, and bank accounts that arbitrarily decide what businesses we are allowed to be in or not—taken by politicians who decide that they are smarter than us and determine what we’re allowed to own and how to live our financial lives. It’s being decided by employers, bureaucrats, and arbitrarily by marketplaces that we don’t have control over and never can because we are not invited to the table.
That is the world we’ve inherited, but we are here to change that for our children and future generations. The decentralized crypto industry is all about making a world where we are in charge. This is Cardano’s and Markethive’s life’s work, as well as all the entrepreneurs within these ecosystems, and is why there is so much passion and excitement, tribalism, and volatility in our industry.
The progress we’ve made includes some of the most sophisticated mathematics and computer science humankind has access to, and there is no challenge too great. It’s not about the money; it’s about freedom and the belief we can build a different system for a better world—a world where we are all treated equally and fairly with the opportunity to achieve as an individual.
In only twelve years, which is a relatively short time, we’ve seen an evolution from a few crypto devotees to a global movement, and the progress is accelerating. This is the first year the crypto market’s behavior has seemed more refined than in previous years. In many cases, we saw erratic FOMO and FUD leading to despair with scam opportunists, the get rich quick mentality, resulting in a negative narrative for the most part.
But now we see a maturing, materializing, growing, and solidifying, getting the respect and dignity that it requires where people are getting serious about regulating and integrating a new financial system permanently into society.
Just like the certainty of the internet, which has become part of our daily lives, Cardano and Markethive are putting forward the best effort the industry has today. The community, the first movers, and people of the movement behind these companies are the lifeblood and have made them what they are today with many more exciting advancements in the next few months.
Thomas Prendergast, CEO of Markethive says,
“Markethive is a grassroots company where the people, the rank, and file are integral to the operations of what Markethive is and will become. We serve you and we serve the Lord as Markethive is a vision of the Lord to bring revelation, freedom, self, and financial sovereignty to all. I love what I do and I’m overwhelmed and excited to be working with Cardano to realize our vision which is parallel with Cardano. We as a community get to be part of this monumental charge and calling for a better world.”
The reality is that these third-generation protocols are emerging, and it's going to change everything fundamentally. We won’t be stuck into this Bitcoin vs. Altcoin mentality. Instead, we will see the industry’s actual value, and it will be reflected by the eventual billions of people who will use these products every day to do things they couldn’t do before and in every area of life.
There will be new markets and new customers representing wealth in different ways we never imagined possible. People from all walks of life will be part of an ecosystem they can access daily from their cell phones, web browsers.
Many startups will come as a result to service the needs of these new markets and new entrepreneurs, creating the Googles, Facebooks, and Amazons of the future in a much more egalitarian and fair manner where ultimately we are in charge. Meanwhile, the dinosaurs will be trying to find a way to survive.
Time To Re-Invent The Rules
Many have endured so much from the legacy financial system, which is responsible for a range of issues, including ridiculously high fees and interest charged to the poorest people in the world. Then there’s corruption and money laundering for infamous drug cartels empowering some very evil human beings.
The issues that are too many to mention here were brought about from the legacy financial system that predominantly says the crypto industry is a risk. When understood and viewed in the right way, our industry is the antidote to the excesses of corruption and nepotism. It’s evolved from an industry of frustration to one of creativity and innovation.
Cardano and Markethive are two of the forward-thinking companies that will change the world and the way we operate and work in the online space. They have a shared vision, and they will get it done and achieve it together as a community.
There are so many people now, and the markets are simply too large. The innovation is too vast to be hindered, so it's no longer a question of if; it’s when we enjoy a better, more humanitarian world of freedom and autonomy in the social media and marketing realms of entrepreneurialism and a new financial operating system delivering economic identity and sovereignty.
Every time there's been a significant change in human history, it's been owned by someone, an empire, or a corporation. It's been a winner-take-all thing or consortium, but now we have the opportunity to reinvent all the rules and change everything. The vanguards of this technology are open-source, patent-free, and defined by the people who use it, and in many cases, more so than the people who invent it. That is an extraordinary and unique moment in our history.
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.
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.
