In a Ponzi Scheme, the founders persuade investors that they’ll profit. Bitcoin does not make such a guarantee. There is no central entity, just individuals building an economy.My experience of BTC recently is not fast or inexpensive. 4 days ago I took advantage of the mempool dip to sweep my last BTC wallet (a brainwallet I had set up for my kids, which I've been reluctant to touch). I way over estimated the fee at 100 sats/byte, just to be sure it would be fast. Of course the mempool exploded again and I've now spent over 100 usd in additional miner bribes (in BCH of course) to get it to confirm, so that I can take advantage of the BCH/BTC dip.
A ponzi scheme is a zero sum game. Early adopters can only profit at the expense of late adopters. Bitcoin has possible win-win outcomes. Early adopters profit from the rise in value. Late adopters, and indeed, society as a whole, benefit from the usefulness of a stable, fast, inexpensive, and widely accepted p2p currency.
|submitted by BitcoinAllBot to BitcoinAll [link] [comments]|
submitted by UMITop to u/UMITop [link] [comments]
Ethereum cryptocurrency that comes second in terms of capitalization on the crypto market is traditionally seen as fast and profitable. However, over the last few weeks it's had a rough patch. Since early August, the network has had huge queues of transactions pending processing while fees have skyrocketed and surpassed the historical high.
The main issue though is that even fees of a few dollars per transfer don't help get rid of the“traffic jams”. The cause of this is numerous DeFi projects and a huge number of financial pyramids based on the Ethereum platform. Both generate excessive load on the network.
The situation is downright unpleasant, and our users might question whether the UMI network could face a similar challenge? We'd like to assure you it could not. The UMI network is by default protected against these problems — it cannot have “traffic jams”, fees or financial pyramids. But first things first.
How has the Ethereum network ground to a halt?
In its report dated August 4, Arcane Research that provides analysis within the field of cryptocurrency stated that over the previous week the daily size of transaction fees in the Ethereum network has surged up to a record high for over two and a half years. On August 3, the median value #%D0%9F%D1%80%D0%B8%D0%BC%D0%B5%D1%80_%D0%B8%D1%81%D0%BF%D0%BE%D0%BB%D1%8C%D0%B7%D0%BE%D0%B2%D0%B0%D0%BD%D0%B8%D1%8F)of the fee amounted to $0.82, with the overall amount of transaction fees totaling $2 mln. However, it only signaled the start of real problems.
Over the next week, fees continued to grow and by August 11 the median fee value almost doubled equaling $1.57. Larry Cermak, an expert at a big analytical and news-making crypto portal The Block, wrote in his August 15 tweet that over a week the total amount of transaction fees in the Ethereum network totaled $34.5 mln, having surpassed its historical high. Meanwhile, in the Bitcoin network that is seen as too expensive the fees were almost four times lower at $9 mln.
The total fee amount paid by cryptocurrency users over a week:
Historical Growth Chart for Ethereum Fees. Source
The existing situation shows that Ethereum is actually not as fast and profitable as commonly cited. Additionally, this could happen to almost any cryptocurrency except UMI that charges no fees whatsoever. We will tell you why.
Why have these problems emerged?
There is nothing unoriginal: the Ethereum network simply can't handle an increased load. Arcane Research analysts consider that a principal cause of this situation is the constantly increasing number of the DeFi ecosystem projects built on the Ethereum blockchain. Their number is growing all the time which causes the overload of the network. As of August 12, the total amount of funds in DeFi applications reached $4.3 billion which is 19.5% higher than that in the past week. At the time of writing this article, the amount surged to $6.21 billion. You can see the current data here. What is the most unpleasant about DeFi protocols is that a lot of them are scam projects.
Which is not the worst part though. There is also another factor that significantly slows down the Ethereum network. There are a lot of pyramid-like projects that are built on the EOS platform and use smart contracts. One of them is SmartWay Forsage, which regularly overloads the network with a large number of transactions, causes traffic jams, and, consequently, leads to increased fees (keep in mind that Ethereum miners choose transactions with a higher commission). Vitalik Buterin, the co-founder of Ethereum, revealed his disapproval of the SmartWay Forsage methodology and asked them to "leave and not pollute Ethereum ecology in the future". However, the project is slow to do this — it continues to deceive users.
This is only the tip of the iceberg of scam projects which abounds on the EOS network –– they continually emerge, work for a while, then go down as scams and are replaced with new ones. This never-ending stream of "investment projects" based on the Ponzi scheme overloads the system. This is the reason why Adam Back, a pioneer of the crypto industry and founder of the technology company Blockstream, equated Ethereum with such infamous projects as Onecoin and Bitconnect. Adam Back's solid dig at Ethereum became the subject of much debate among crypto enthusiasts.
Of course, it all doesn't mean that Ethereum is a bad cryptocurrency. On the contrary, it has a lot of advantages over other coins. But all that has happened exposes Ethereum's faults which must be eliminated. The problem is that they may not be fixable. It is far from certain that the developers will be able to get rid of all the defects as the system has huge scalability problems.
The crypto community has to admit that Ethereum, like other first-generation cryptocurrencies, has issues with capacity, fees, and scalability and is gradually becoming obsolete.
2020 is the time for young innovative cryptocurrencies such as UMI.
UMI is the flagship of new-generation cryptocurrencies.
In real fact, any cryptocurrency could face it. Each cryptocurrency charges fees which typically surge when the network is overloaded or the price is going up. Everyone will remember 2017 when in line with price growth and the network's overload Bitcoin transaction fee reached a high of around $40.
But when it comes to UMI, it works the other way round. The UMI network's advantages are high capacity, no fees, and scaling possibilities. It uses the best and fastest crypto industry solutions and excludes all inefficient methods by default. Smart optimization in combination with the Proof-of-Authority technology operating on the master node basis enables almost instant payments.
At the stage of network testing, an incredibly high capacity was achieved:
The UMI network can process transactions that Ethereum processes over a year in a few days and with no fees. More details
What is more important is that less than 0.001% of the network's overall potential is used now. The UMI network has a lot of reserve capacity and can handle hundreds of thousands of times heavier load. Moreover, with scaling possibilities, UMI can keep up with the times. The UMI code ensures the safe introduction of any upgrades — the network can be easily modified and scaled with cutting edge technology solutions. In other words, traffic jams will never pose a problem for us. UMI will instantly process all transactions, with no fees. Always.
A real-time speedometer displays the number of transactions processed by the UMI network per second. Link
Additionally, unlike Ethereum and other cryptocurrencies, the UMI's staking smart contract prevents possibilities of any pyramid schemes, meaning eliminates their negative influence. Our staking is completely safe and secured against scammers. Read more about this in our article. Any UMI staking structure could work forever. In other words, you can multiply your coins at a rate of up to 40% per month for an indefinitely long period of time.
UMI doesn't inherit the disadvantages of the first-generation cryptocurrencies. This is an innovative, carefully designed network based on state-of-the-art technologies. UMI is an ambitious step toward the future. And we're making it together right now!
Sincerely yours, UMI team
"Dogecoin Core 1.8 introduces AuxPoW from block 371,337. AuxPoW is a technology which enables miners to submit work done while mining other coins, as work on the Dogecoin block chain."What does this mean? You could waste your hashrate only on the Dogecoin chain, probably find never a block, but when, you only receive about 10.000 Dogecoins, currently worth about $25. Or you could apply your hashrate to LTC and Doge (and probably even more) at the same time. Your change of solving the block (finding the nonce) is your hashrate divided by the hashrat in sum - and this is about the same for Doge and LTC. This means you will always want to submit your work to all chains available!
submitted by Floris-Jan to aelfofficial [link] [comments]
Airdrops are so 2017, free money was fun while it lasted but now when someone says free money in crypto, the first thoughts are scams and ponzi schemes. But in 2020, there is a way to earn free money, in a legitimate, common practice, and logical manner — staking.
Staking is the core concept behind the Proof-of-Stake (PoS) consensus protocol that is quickly becoming an industry standard throughout blockchain projects. PoS allows blockchains to scale effectively without compromising on security and resource efficiency. Projects that incorporate staking include aelf, Dash, EOS, Cosmos, Cardano, Dfinity and many others.
PoW — Why changeFirst, let’s look at some of the issues facing Proof-of-Work (PoW) consensus that led to the development of PoS.
Consistent Fiat Injection — The majority of miners will be paying for their electricity in fiat currency. At a conservative rate of $0.1 USD per kWh, the network currently uses 73.12 TWh per year. This equates to an average daily cost of over $20 million USD. This means every day around $20 million of fiat currency is effectively being injected into the bitcoin network. Although this concept is somewhat flawed in the sense that the same amount of bitcoin will be released each day regardless of how much is spent on electricity, I’m looking at this from the eyes of the miners, they are reducing their fiat bags and increasing their bitcoin bags. This change of bags is the essence of this point which will inevitably encourage crypto spending. If the bitcoin bags were increased but fiat bags did not decrease, then there would be less incentive to spend the bitcoin, as would see in a staking ecosystem.
PoS VariationsDifferent approaches have been taken to tackle different issues the PoS protocol faces. Will Little has an excellent article explaining this and more in PoS, but let me take an excerpt from his piece to go through them:
Earning Your StakeIn order to understand how one can earn money from these networks, I’ll break them down into 3 categories: Simple staking, Running nodes, and Voting.
Simple Staking - This is the simplest of the 3 methods and requires almost no action by the user. Certain networks will reward users by simply holding tokens in a specified wallet. These rewards are generally minimal but are the easiest way to earn.
Running a node - This method provides the greatest rewards but also requires the greatest action by the user and most likely will require ongoing maintenance. Generally speaking, networks will require nodes to stake a certain amount of tokens often amounting to thousands of dollars. In DPoS systems, these nodes must be voted in by other users on the network and must continue to provide confidence to their supporters. Some companies will setup nodes and allow users to participate by contributing to the minimum staking amount, with a similar concept to PoW mining pools.
Voting - This mechanism works hand in hand with running nodes in relation to DPoS networks. Users are encouraged to vote for their preferred nodes by staking tokens as votes. Each vote will unlock a small amount of rewards for each voter, the nodes are normally the ones to provide these rewards as a portion of their own reward for running a node.
Aelf’s DPoS systemThe aelf consensus protocol utilizes a form of DPoS. There are two versions of nodes on the network, active nodes & backup nodes (official names yet to be announced). Active nodes run the network and produce the blocks, while the backup nodes complete minor tasks and are on standby should any active nodes go offline or act maliciously. These nodes are selected based upon their number of votes received. Initially the top 17 nodes will be selected as active nodes, while the next 100 will stand as the backup ones, each voting period each node may change position should they receive more or less votes than the previous period. In order to be considered as a node, one must stake a minimum amount of ELF tokens (yet to be announced).
In order to participate as a voter, there is no minimum amount of tokens to be staked. When one stakes, their tokens will be locked for a designated amount of time, selected by the voter from the preset periods. If users pull their tokens out before this locked period has expired no rewards are received, but if they leave them locked for the entire time frame they will receive the set reward, and the tokens will be automatically rolled over into the next locked period. As a result, should a voter decide, once their votes are cast, they can continue to receive rewards without any further action needed.
Many projects have tackled with node rewards in order to make them fair, well incentivized but sustainable for everyone involved. Aelf has come up with a reward structure based on multiple variables with a basic income guaranteed for every node. Variables may include the number of re-elections, number of votes received, or other elements.
As the system matures, the number of active nodes will be increased, resulting in a more diverse and secure network.
Staking as a solution is a win-win-win for network creators, users and investors. It is a much more resource efficient and scalable protocol to secure blockchain networks while reducing the entry point for users to earn from the system.
submitted by kivo360 to CryptoCurrency [link] [comments]
Let's get real. [Vitalik talks about this constantly]. The cryptocurrency/blockchain community has a cultural problem.Edit: Links here suck. I put quotes around them so you can spot them out. I did a lot of research for this post.
Edit #2: Put square brackets around links. Now they should be clearly visible.
TLDR: The ills Vitalik talks about are primarily about psychology. New scalable solutions can fix it partially, but we have to deal with people first.
Before I dig deep into this post, I want to let you know what it's about. Yes, you'll see some emotional content. You'll see ideological ideas. However, this post ain't about ideologies. It's about something I deem as a real problem. Its about the corrupt mindsets that we have as community since the prices spiked early 2017. To advance forward, I want to analyze them, distill the problem into the most basic form possible, then point people into a direction I deem would be good for the cryptocurrency community. The format will go like this:
Why I'm HereTime travel back into pre-2017 and you'll see that the cryptocurrency/blockchain community was filled with hopeful young nerds that dreamed of making the world into a better place; A much more open, peaceful and freer place. I was going through a hard time with my life 2015-16 -- my twin died, I was on the verge of going homeless with nobody else to rely on, had to go unbanked in America, almost entirely dropped out of college and my first contracting business failed. I couldn't get my life right at all, and I didn't see any hope. The future was bleak to me. However, I found people here in the blockchain community actually trying their hardest to do things that would solve the world's problems, [even if that was mainly reporting the news for people and addressing people live in chat to create a community]. That drew me in well before the price of cryptocurrencies spiked; almost in a manic like way -- I read about it constantly, practiced solidity, talked to everyone I could that would have the capacity to understand cryptocurrencies and more.
Even now, when I attend conferences, I meet good-hearted, sleep deprived developers, marketers, business owners and specialist that aim to solve the world's greatest problems in the best ways they can. Many are in small corners of the world helping each other out. Inside of this community I found hope and meaning. My depression lifted, my anxiety went away, my life got back on track, and that hope propels me though the field years since I joined this movement. I'm now more confident than ever knowing that collectively this industry will possibly be the epicenter of change for not only money, but for everything. We'll [eliminate poverty], [solve global warming], [prevent hyper-inflation like we've seen with Venezuela], [improve supply chains] around the world, improve healthcare, and solve the [social ills of the world like corruption]. That's just the tip of the iceberg. I believe intensely in the vision set for crypto.
The community is filled with brilliant people that will make a difference. That excites me.
I'm for freedom, boosting happiness of individuals, increasing health, making life more fun and less stressful for the common person, open discussions to progress everyone forward, and a more livable planet. I'm thinking of all people and I'm not against any group. However, I'm not for FUD, greed while abusing others, bigotry, trolling, hatred, racism, evil acts and stealing. Those are against my values. I think that's against the values of many of the cryptocurrency community's foundational members.
A problem we can't ignoreIn 2017, as the prices exploded and the returns grew in for the average person, I noticed the community was starting to get tainted. People were no longer focusing on technology, freedom and community. No longer focusing on creating better lives for people in their communities around the world. We were missing the altruism I originally felt in the community. [If I were in Vitalik shoes, where I'd invest 80-100 hours a week into a vision, I'd feel extreme frustration too]. People are instead focusing on [needless politics], searching for the next big price pump, the next big score. Instead of people figuring out about how to use blockchain and crypto for making people's lives better, I've heard people say HODL and scam more than I ever have in the history of the community. This saddens me and frustrates me at the same time. On one end I see great potential and beauty in the community, and at the same time I see the beast within us come out that hasn't been even thought about deeply enough to be accurately tamed. Trolls, profiteers running away with ICO money, market manipulators and scam artist ruining the reputation and progress of the community.
While I could complain about what I see, I decided to instead dissect it in this post. I wanted to know what's causing this on a larger scale. See, by training I'm a psychologist, social scientist and computer scientist. I've been transitioning over to economics and data science because I feel it's a solid cornerstone of the industry. My perspective will be coming from those first. Allow me to explain. If our community is going to "grow up and actually solve problems", the corruption of minds because of money needs to be fully explored first.
Only by understanding the problem thoroughly can we solve it.
Explicitly stating the problem: Its the extreme predatory, egotistical, harsh behavior we as a community have adopted.
The Psychology And Behavioral Science Of FinanceLet's start with the biggest premise. Money is an idea. It exist because people communicate, produce, share, trade, have scarcity for goods and have needs. Money is an ideological binding agent for people.
Money and the MindOur mind is complex. Beyond the usual processing of information people have (our 11 senses), we people have 2 primary centers for decision making and control.
The first one is the limbic system. It has gone by the nickname of "the lizard brain" in recent history. It's responsible for storing memories, handling stress responses, attention and emotional processing. In a sense, it controls all of intuition and fast heuristic choices you make.
The second system is known as the prefrontal cortex. It controls higher order functions such as planning, reasoning, serial processing and how we think about emotions.
These two centers are not mutually exclusive. You brain has circuits to make decisions about everything. The two parts talk to each other to do so. Any dysfunction in behavior is usually due to a lack of communication between these two decision centers, rather than a lack of communication between the centers of your brain. This is heavily seen in mental disorders. According to the book [Upward Spiral ], a book that looks at mental disorders from a neuroscientific view and explains how to reverse the ill effects of them, here's now some disorders can play out inside of our heads:
How Crypto FitsThis should hopefully be the first question we have. It's easy to only pay attention to the ill behaviors of the more recent cryptocurrency industry and say "shame on you!". But what if people had a hard time actually controlling themselves? Inside of the book Upward Spiral, Alex Korb, the neuroscientist that wrote it explored that people with depression and anxiety had a hard time not being depressed and anxious by choice. Because the depressed person's circuitry is skewed, they act on it subconsciously in a forever perpetuating loop. In fact, the only way to reverse depression is to reverse the circuitry that holds it together.
Part of what makes anti-depressants more effective is that the serotonin improves sleep and makes a person's brain more susceptible to positive changes. That would be doing things like doing gratitude journals everyday to make your anterior cingular cortices notice more positive events, being around people who love you to boost your serotonin and cut down stress hormones, or getting a little exercise everyday to send oxygen to your brain.
So that leads us back to the original question. What if people didn't have a fully conscious control over how they acted about money and crypto? I did some research between many different articles and found that this was absolutely the case. People don't have much control. They tend to be on extremes of some end all the time.
How Does Finance Play With The Brain?
Of the many ways, there's one key way it does. Money plays with people through the the hypothalamus stress response. It charges people into fight or flight mode, and can literally destabilize the homeostatic systems. This can do all sorts of things. It can make the anterior cingulate weaker in strength (known to help us control emotions and learn), and therefore reduce the power of our prefrontal cortex. When people are stressed about finance, or even excited about it, it will put people into extreme states. [Meaning the lizard brain takes the show]. That can make people easily make haphazard decisions.
Of course, there's other things that happen with the introduction of more money, but that IS the most intense thing to take note of.
If we want to solve the problem of relinquishing poor community, like Vitalik continuously makes comments about, we need to look at the problem in this way. If we don't see it this way, we're screwed. The problem wont be solved, companies like Microsoft will continuously kill off their implementations due to price fluctuations, the cryptocurrency community wont pass go and wont make a huge impact. Instead we'll blame, shout at each other, and create another Wall Street 2.0. In fact, we'll become worse than them. We will have more leverage over resources than any other group in history and the corruption will be strong.
Money affects decisions, period.
Solving the Cultural problemI'm nervous. As I type this response, I know that by revealing my idea to the public I could be condemned by the community for "shilling", and even worse, somebody else can pick it up and run with it. That is the most nerve wreaking thing I could ever consider. Months of 80 hour weeks and extreme sacrifices to bring out a vision because I didn't see much of a choice. If we don't remove what limits us soon as a community we will get engulfed by outsiders that don't want to create virtuous society.
My solution: Algorithmic Trading
Now, before you tell me that the market is entirely unpredictable, I'd like to be one to say that the notion is false. We see everywhere that people using AI and more complex forms of math to be able to make reasonable gains in the financial world. Companies like Bridgewater predicted the financial crash of 2008 with reasonable accuracy, and other people like [mathematicians are able to do the same]. Realistically, the market has some degree of predictability. However, much of the access to that is limited.
Even beyond that, the financial industry is one of the only social fields that is highly transparent to many actors, through the news and price information, and reflects ideas and beliefs through the markets. If we can better analyze markets, we could discover all sorts of social phenomenon that previously made no sense. With algorithmic trading we're heavily incentivized to learn, as that will produce a direct outcome of earning money.
We could better solve the social ills of the world quickly and efficiently over time. On top of that, we will be able to stabilize the market and protect against bad agents if algorithmic trading becomes coordinated and effective enough throughout the industry.
Again, How Does it Fit With Cryptocurrency?
Bitconnect could answer how automated trading fits.
Before I continue, let me be clear. People lost their money through that scam. It was awful. I know some people that had a lot of money taken from them. Many of them are now fearful of cryptocurrency.
However, I don't think Bitconnect was 100% wrong with their idea. Yes they were a ponzi scheme, yet realistically many of the people I met that fell for it felt as though the crypto markets were already complex. They were losing money while HODLing, making rash decisions and trading.
Bitcoin and the entire industry carries too much of a cognitive burden for a person to keep track of beyond their normal everyday life. News, prices, scams, hacks and technical information. That's a lot to keep track of if you have 3-4 part-time jobs as a single mom or dad while raising 2 kids. That's a lot to keep track of if you're old and don't have the technical capacity to read into the crypto markets all day everyday.
Therefore, even while people were making less money from investing into Bitconnect, on paper it required less thinking and they were still getting benefits that they cared about. They could share with friends because they thought that there money would not shrink in value heavily due to a random market crash. As a consumer, it isn't wrong to believe that you can be apart of something big without having to work an extra 5 hours everyday reading blogs and watching youtube videos just to keep up with the happenings of the industry.
It doesn't require us to be judging people for falling into a ponzi scheme. It requires a bit of caring and empathy to see people's main intentions. They want a better life compared to the one that has been crushing them with student debt and poor job prospects. People want to have a better life without being as stressed beyond belief like they currently are.
And for the everyday trader, giving them the incentive they seek, while giving them the capacity to do some research for themselves is important. Choice matters a lot for some people.
Steps I've taken towards this:Here comes the shill part you've been waiting for. Over the last year I've been building an application that would help us solve the problems we face today as a community. It I'll reduce the stress response of people worrying more about money, with technology like it getting standardized throughout the entire industry, it'll make things a lot more stable. It's an automated AI-based trading platform that aims to make reduce the cognitive load and worry about holding your funds in crypto. The aim of it is to dynamically trade for people while also letting them have 100% control over their funds. For now, that's by using exchange API keys. Though in the future, that can be through decentralized exchanges, meaning no middle man.
My product's name: It's [Funguana.com]. [Internally meaning the interconnection of all Dhrama in the Huayan Buddhist religion].
I've already received controversial reviews, and feel crazy for putting it back out there. However, I'm now confident I can follow through, and maybe by explaining my reasoning behind why I built it the community will respond differently this time.
To make it more trust-able, 4 months after public release, if my resources allow me to, I plan to open source the infrastructure code so people can implement their own platform within a matter of weeks, then systemically open many of the algorithms so they can appropriate powerful algorithms together over time (many not based on AI). I have to be strategic though. If I open it too soon, too many bad actors can enter the space and cause havoc early, without much chance to keep them in check.
Edit: I made changes to the page to make the links more obvious. Now they're in bold and italic
Edit 2: Adding quotes to make links more obvious again.
submitted by turtlecane to CryptoCurrency [link] [comments]
After intense scientific research, the experts at GenesisBlockNews have discovered a new type of shitcoin: the zombie shitcoin. The definition of a zombie shitcoin is a shitcoin that already totally died, but somehow continues to have trading activity and a value. Bitconnect (BCC) is the first identified zombie shitcoin.
Bitconnect was a typical ponzi scheme where people thought they were getting profits by holding its native token, BCC, but really they were just being paid with the money from new investors. Once the cryptocurrency market began to decline in December 2017 and January 2018, and new investments dried up, Bitconnect imploded like the infamous Chernobyl nuclear reactor. The market cap of BCC declined from USD 2.77 billion to USD 20 million within a month.
It is important to note that USD 2.77 billion would place Bitconnect in #4 today, ahead of Stellar, Bitcoin Cash, EOS, Litecoin, Tether, etc. The fact that the native cryptocurrency of a ponzi scheme was able to gain such a high market cap is illustrative of how naive, and honestly outright stupid, the crypto space got. People were dumping truck loads of money into the pockets of the Bitconnect scammers, since they thought they could get quick profits, instead of doing research and investing in cryptocurrencies that have real potential. This same story has been repeated for thousands of ICO scams, but perhaps Bitconnect is the most obvious example.
Currently BCC has a price of USD 0.68 and a market cap of USD 7.4 million. Not only that, but CoinMarketCap indicates that BCC has daily volume of USD 10,000 on average, and there was a 100+% rally in August 2018. This firmly indicates that BCC is indeed a zombie shitcoin. People are still paying actual money for a cryptocurrency which totally died an entire year ago.
The only advice we have, after watching zombie movies, is to shoot BCC straight in the head. Bitconnect already died in the crypto equivalent of a nuclear meltdown, and now it walks the Earth as an undead cryptocurrency.
|#||Game||Description||Channels||Status||Should I Join?|
|1.||Cryptokitties||Pioneer in blockchain gaming. Currently has biggest auditory and market turnover per day. But since no new functionality has been added by developers(you could only breed, buy and sell), market is dropping prices each day. Hard to enter for newbies and earn something. On other hand has interesting science side to breed new cats. Honestly think it will be one of the longest projects, however it is hard earn there right now, HODLers very rare cats might win at the end of 2018(Gen0 cats will no appear). It is just very short description about project, more details coming soon. With current prices and price of breeding there are very little kittyfans right now||Twitter Reddit Discord||Released||promising|
|2.||Etheremon||One of the most potentially best blockchain games with battle mechanic(will be working from 8th Jan but is already implemented in smart contracts) and design looks like Pokemons. Started as ponzi-like scheme, but developers turned it into amazing solution as gen0 holders which might moon just in next few weeks. Those who hadn't returned their ROI received eggs which will turn into additional gen0 mons. Moreover project leader nakasatoshi has opened weekly thread about current status and seems to be very positive and hardworking guy. Personally I'm very excited about Etheremons and waiting starting trade/lease/battle functionality. Project spend 0(ZERO) dollars on marketing and have already huge community.||Medium Twitter Reddit Discord(NO) Deviantart||Beta||Promising|
|3||CryptoPets||Another cool projects with solid White Paper and smart contracts which will start very soon. Early adopters are already defined(1500 persons), but still project has very big potential. I'm recommending subscribe to their channels and start playing as soon as they'll start, should be very good. They have announced cooperation with Decentraland||Twitter Discord WhitePaper Reddit||Whitepaper||Promising|
|4||EtherArmy||Previously EtherTanks. Official SCAM||Telegram||Beta Ponzi||Scam|
|5||Pandarium||Promising game to be released very soon, with unique competition system. Highly recommend to subscribe.||Twitter Facebook Discord||Announced||Promising|
|7||Fishbank||Collecting userbase via referral system. After 3 referrals you're going get 1 x Common Fish, after 15 - 1 Rare Fish, 100 - Legendary, 1000 - Epic. Release of Alpha is planned january 18th.||Telegram Twitter Discord WhitePaper||Whitepaper||Maybe|
|8||CryptoPunks||Oldest strange project of Larva Labs, there is nothing to do just buy or cell one of 10000 punks. But game already has their own auditory||Discord||Released||Maybe|
|9||SubPrime Crypto||Upcoming project with blockchain real estate trading||Announced||Maybe|
|10||CryptoPuppies||Another pet adoption game, will be released in near future, seems to be much cuter than Cryptokitties.||Twitter Telegram Discord||Announced||Maybe|
|11||CryptoFighters||Interesting and potentially very attractive project. Join now to have possibility to win gen0 fighters which might have some good value quite soon.||Twitter Facebook Telegram||Released||Promising|
|12||HashPupies||Currently only one based not on ETH network, but on NEO. Airdrop is already finished and beta test of project is planned on early March of 2018.||Twitter Facebook Reddit Discord||Announced||Maybe|
|13||EtherRock||Totally strange project, similar to Punks but only 100 rocks. Hm ... really?!!! :)||Discord NO||Released||Maybe|
|14||Cryptodrome||Interesting project, will be starting very soon, now with Horses, not only siring/breeding, but competition game, where you can compete in horseracing with your own champion and win Ethers. Join now to get chance win Gen 0.||Telegram||Announced||Promising|
|15||Parsec Frontiers||Absolutely another subject (no more pets) of blockchain but seems very perspective - space economic strategy, ICO has not been started, so if you're interested, try to rush into whitelist.||Twitter Facebook Medium Discord Reddit Whitepaper||Whitepaper||Promising|
|16||Decentraland||Not a game originally but based on their own cryptocurrency MANA and will join blockchain with AR. Had finished parcels sale||Whitepaper Twitter Reddit||Whitepaper||Promising|
|17||Nova Blitz||Potentially one of the hugest TCG on blockchain. They're are starting initial coin sell in couple of hours. Whitepaper looks very solid at least right now. Only one project with user agreement during buying tokens.||Telegram BitcoinTalk Whitepaper||Whitepaper||Promising|
|18||Pray 4 Prey||Don't know if it is true game, or just a gambling one, cause no rules and FAQs working on site. It seems the mechanics is as follows: you buy a fish, it stays in aquarium until some shark attacks (1 time per 24 hrs?), if your fish survives it gains additional ether in its price.||Twitter Reddit||Beta||Not really|
|19||CryptoMons||Looks like TCG battle game. I like the design, let's see what shall it be.||Telegram||Beta||Maybe|
|20||Realms of Ether||8-bit blockchain game. The game is promissing however more information on rules is needed. Believe me, there are oldschool gamers which will be fans of it.||BitcoinTalk||Beta||Maybe|
|21||Puppy Planet||No info currently, just follow twitter to get some free stuff.||Announced||Maybe|
|22||Tron Dogs||Site is currently without English customization, but dogs look amazing (similar to cryptokitties). Could be next hype, but based on TRON network.||Beta||Maybe|
|23||Ether Racing||Official SCAM||Gmail||Beta Ponzi||Scam|
|24||Kryptowars||Totally new project, with at least some working mechanics, only 100 armies exists, you are selecting country and try to get more wins.||Internal Blog||Released||Maybe|
|25||CryptoStamps||Interesting project from small San Francisco team with collectible stamps. Subscribe to their channel and get chance win Initial Stamp||Twitter Facebook Reddit||Released||Promising|
|26||Etherions||New project with 3D Web-GL browser graphics with which looks like not bad as for start||Reddit Discord||Beta||Maybe|
|27||Steam Punk||The first MMORPG announced on blockhain, check wheir whitepaper if you're interested||Discord Whitepaper||Whitepaper||Maybe|
|28||Mooncat Rescue||Another 8-bit project, now with kitties||Beta||Maybe|
|29||Etherpoly||Monopoly game on Ether network? Why not||No||Announced||Maybe|
|30||Own A Number||Selling numbers on Eth network, what's next?||Beta||Not really|
|31||Crypto Battle||Start of project has been postponed due to developing smart contract, developers had redunf to all persons who had bought monster and didnt know about smart contract absence. Seems pretty fair. Gen0 sales will start on Jan 09||Gmail||Announced||Maybe|
|32||SnapCity||SnapCity is the latest geo-location adventure game built on the blockchain and coming to Android and iOS soon.||Reddit Telegram Whitepaper||Whitepaper||Maybe|
|33||Costume||First Play-to-Earn Blockchain Based MMO Video-Game with a Self-Sustaining Economic Loop||Twitter Facebook Medium||Whitepaper||Promising|
|34||Crypto Zombies||Actually not a game in commons sense, is a free, interactive code school that teaches you to build games on Ethereum.||Released||Promising|
|35||Ledger Legends||Brand new game in style of Heartstone, very early beta now||Discord||Beta||Promising|
|36||EthBabies||Censored version of Crypto-pussies from the same author, now with lingerie on, currently nothing to do excepet breeding||Discord||Beta||Maybe|
|37||CryptoHunt||A healthy and educational augmented reality game with earning potential||Twitter Discord Telegram Whitepaper||Whitepaper||Maybe|
|38||CryptoBots||Another Cryptokitties clone with nothing to do, just buy and breed||No||Beta||Not really|
|39||EtherSpace||EtherTanks-like ponzi cryptogame now in space||Beta Ponzi||Not really|
|40||EtherCraft||First 8-bit blockchain RPG. Contains ponzi scheme, but provides free items as well. Might be interesting.||Twitter Telegram Discord Reddit Medium||Beta Ponzi||Promising|
|41||EtherRacing||Yeah, you don't mix-up, another ponzi game with same! name||Twitter Discord Reddit||Beta Ponzi||Scam|
|42||EtherRocket||Brand new space game with working space rockets missions - you have to reach certain planet. Seems quite fresh and finally some with working functionality||Beta||Not Really|
|43||CryptoCelebrities||Simple collectible game, where you could buy token with your favourite celebrity (only 1 token of each celebrity exists). You're owner of token until someone decides double your price (so you'll get x2 you'd paid)||Twitter Facebook Instagram||Beta||Scam|
|44||EtherTulips||Currently only buy seeds and get flowers with certain probability: Very Common (50.9%), Common (20.5%), Uncommon (12.7%), Rare (6.4%), Very Rare(3.2%), Epic (0.8%), Legendary (0.4%), and an exceedingly exclusive Secret Tulip (0.1%)!||Twitter Reddit Medium||Beta||Scam|
|45||CryptoAlpaka||Decentralized pet-rising crypto game with rewards||Twitter Telegram Medium||Announced||Maybe|
|46||Etherbots||Interesting idea, constructor-like robots war on blockchain, will be more details after official launch||Twitter Reddit Discord Medium||Beta||Promising|
|47||EtherLambos||1st producer of digital high-end luxury vehicles on the Ethereum blockchain. Etherlambos are tokens of craftsmanship dedicated to collect the desire of people to possess unique items of value. Etherlambos can be collected, traded, and tuned. All Etherlambos come in a limited edition.||Twitter Facebook Reddit||Beta||Maybe|
|48||Beyond the Void Description||Beyond the Void is a 1v1 MOBA game with decisive features from RTS games. The gameplay is a unique mix of genres. It takes place in a universe of sci-fi and fantasy. It’s powered by blockchain as the in-game items are available to purchase only in Nexium (NXC) - the dedicated cryptocurrency. The objective is to offer a new game experience for players as they will truly own their in-game items, be able to use their cross-gaming items in feature Nexarium games and, to trade or sell them on the Beyond the Void’s shop||Twitter Facebook Discord||Early Access||Promising|
|49||Cryptosaga||New decentralized RPG from Korean development studio with amazing animation and very promising gameplay||Twitter Discord Medium||Presale||Promising|
|50||CryptoCountries||CryptoCelebrities - like game, at least for now. Developers promised add gaming elements and not just trading. As for now it is not recommended for newbies, as you could stuck with expensive country card||Discord Twitter Facebook Medium||Beta||Promising|
|51||Ether Dungeon||Ether Dungeon is a real ethereum blockchain based game in which players can explore the depth of dungeons, collecting & upgrading epic heroes, powerful items, challenge fierce enemies, and finally become the Dungeon Master!||Discord Twitter Reddit Medium||Beta||Maybe|
|52||ÐWorld||ÐWorld is a game centered around owning and trading parts of the world. We call them plots. Each plot is owned by you: no one else can claim it or take it from you, unless they pay you more than you did. You can customize your plots for everyone to see.||Discord||Beta||Maybe|
|53||Cryptocities.net||Cryptocities - brand new blockchain game with possibility to discover new cities each 12-14 hours, and sell/rent them. Aim is to discover most valuable cities. More details could be found on site or on Discord. I like their idea and 'no rushing' cooldown before each new action. Long term project for sure||Discord||Beta||Promising|
|54||Dragonereum||Built on Ethereum blockchain, Dragonereum is a cryptocollectible player vs. player game, allowing users to collect, breed and battle unique dragons. As for me project seems to be very promising with very cool design and idea.||Telegram Twitter Facebook Discord Whitepaper||Beta||Promising|
|55||Augmentors||Augmentors Game will be for all mobile devices when launching in Q4 2018. The game features Augmented Reality. The creatures are AR and can battle anywhere in the world. There are collectible Creature that are in limited supply as they were part of the ICO nearly a year ago. These creatures are unlike most games seen today, you can use them in real battles in real AR all over the world.||Facebook Twitter Instagram YouTube Telegram Medium Reddit||Announced||Promising|
|56||KimJongCrypto||CryptoPunks like collectibles developed by BushidoLab, with really fun design, I was laughing a lot when saw this first time. If you're loved with collecting you should try it for sure||Facebook Twitter||Beta||Maybe|
|57||CryptoLandmarks||Collect unique cards, which represent real recognizable natural or artificial landmark existing on our planet. There is only one card of each landmark.||Facebook Twitter Discord||Released||Maybe|
|58||CryptoArts||CryptoArts is a Blockchain based Virtual Gallery where players can invest into masterpieces and earn, art lovers can browse virtual gallery via mobile app in AVR. Galleries and individual artists can host exhibitions. Very ambitious and promising project. I really like and idea!||Twitter Discord||Beta||Promising|
|59||Cryptociti.es||It is blockchain place where you could buy and trade your own Cryptocity. Countries, Continents and Subcontinents are ongoing.||Discord Reddit Twitter Facebook||Beta||Maybe|
|60||Cryptopoliticians||CryptoPoliticians is a game that allows anyone to own and trade one-of-a-kind politicians. Buy politicians and play politics with other politicians around the world.||Discord||Beta||Scam|
|61||EtherQuest||New fantasy game with RPG elements where you can battle your heroes against other players on arena or challenge on big tournament. Current prices for arena battles are high, but overall concept and design is very good||Discord Twitter Telegram Medium||Beta||Maybe|
|62||Rabona||New promising and first on blockchain Football Manager. Join a team or create your own, play together with friends in the pursuit to climb the top and claim the biggest share. Train your own champions and sell them for Ether or enroll them to your own dream team!||Reddit Twitter Medium Instagram Telegram||Released||Maybe|
|63||Infect the World||Pandemic reborn on blockchain. Funny viruses mutation game with pyramid scheme. Create your own virus and try to infect as much as possible people. Read FAQ carefully to understand how to play properly||BitcoinTalk||Beta||Not really|
|64||Etherwaifu||Etherwaifu (do not mix up with scam Ethwaifus) is fresh crafting collectible game with amazing artworks from two raising talents Jubi and Agro. Each of this fantastic artwork has thousands of unique variations, and you can craft a new one by combining traits of other artworks you own. See the magic yourself.||Discord Twitter Reddit Telegram Medium Contract||Beta||Promising|
Barstool Sports founder Dave Portnoy revealed in an interview with Bitcoin bull Anthony “Pomp” Pompliano that he had previously bought $1.25 million worth of Bitcoin (BTC), despite thinking that the largest cryptocurrency by market cap was just a “just one big Ponzi scheme.”The eccentric “Davey Day Trader” previously invested heavily in cryptocurrencies, after getting briefed about ... From Bitcoin Wiki. Jump to: navigation, search. Let's clear up some common Bitcoin misconceptions. Contents. 1 Bitcoin is just like all other digital currencies; nothing new; 2 Bitcoins don't solve any problems that fiat currency and/or gold doesn't solve; 3 Miners, developers or some other entity could change Bitcoin's properties to benefit themselves; 4 Bitcoin is backed by processing power ... Bitcoin is a cryptocurrency and a payment system invented by an unidentified programmer that uses Blockchain, or group of programmers , under the name of Satoshi Nakamoto. Bitcoin was introduced on 31 October 2008 to a cryptography mailing list and released as open-source software in 2009. There have been various claims and speculation concerning the identity of Nakamoto, none of which are ... From Bitcoin Wiki. Jump to: navigation, search. This page is being considered for deletion with the following reason:" Yet another spammy ponzi "Support or contest this page's deletion in the relevant discussion page. Feel free to edit the page, but the page must not be blanked, and this notice must not be removed, until the discussion is closed. CoinPig - Bitcoin wallet with integrated ... Three companies allegedly running a large-scale cryptocurrency Ponzi scheme are being investigated by Indian police. The scheme promises extraordinary returns to investors. The police have ...
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Like the show? Donate Bitcoins: 1LAYuQq6f11HccBgbe6bx8DiwKwzuYkPR3 Today is November 23, 2014 Bitcoin is not a ponzi scheme. A ponzi scheme, named after Char... "Wolf of Wall Street" Jordan Belfort warns Richard Quest about getting into bitcoin. This video is unavailable. Watch Queue Queue. Watch Queue Queue I've seen many comments from many people who are claiming that #Bitcoin is a straight-up #PonziScheme. But is Bitcoin A) a #Ponzi Scheme? B) a #PyramidScheme... Subprime the Musical- Series of light-hearted podcasts designed to explain the Subprime Mortgage Crisis. To learn more visit: www.subprimethemusical.wordpres...