Web Developer & Designer Enthusiastic about Blockchain Technology.

The Looming Threat of China

The Looming Threat of China: An Analysis of Chinese Influence on Bitcoin

In this paper, Ben Kaiser, Mireya Jurado, and Alex Ledger explore the real threat that China poses on Bitcoin, in numerous ways. Surprisingly, I haven’t seen much discussion on this topic online. Surely it has been obvious that China is the type of power that can dare to try to control anything in the world, even Bitcoin – the face of the Decentralization movement. Will China succeed? Here the abstract:

As Bitcoin’s popularity has grown over the decade since its creation, it has become an increasingly attractive target for adversaries of all kinds. One of the most powerful potential adversaries is the country of China, which has expressed adversarial positions regarding the cryptocurrency and demonstrated powerful capabilities to influence it. In this paper, we explore how China threatens the security, stability, and viability of Bitcoin through its dominant position in the Bitcoin ecosystem, political and economic control over domestic activity, and control over its domestic Internet infrastructure. We explore the relationship between China and Bitcoin, document China’s motivation to undermine Bitcoin, and present a case study to demonstrate the strong influence that China has over Bitcoin. Finally, we systematize the class of attacks that China can deploy against Bitcoin to better understand the threat China poses. We conclude that China has mature capabilities and strong motives for performing a variety of attacks against Bitcoin.

Bitcoin Dominance hits 10-week high

Decentralized Governance Struggles Continue to Validate Bitcoin

As the cryptocurrency bear market continues, EOS’s USD price is hovering around $6.65. The market’s display of trust (or lack thereof) in the existing models makes one think whether any of them are heading in the right direction as far as decentralized governance and finance are concerned.

Nick Szabo and Dan Larimer represent two different forces and schools of thought on governance. Szabo’s model seems to focus a lot more on trustlessness and seeks true decentralilzation through a self-run and self-governed AI, whereas Larimer’s EOS incorporates constitutional governance (that can resemble the founding of the USA, which evidently can go corrupt as the founders of the nation themselves anticipated and warned against).

Szabo does however favor Ethereum despite the fact that some believe it’s not truly decentralized because of the Ethereum hard-fork which took place after a consensus following the DAO hack.

In light of these observations, Bitcoin continues to shine as the one and only truly decentralized blockchain to date.

Perhaps with the further development and widespread deployment of the Lightning Network and second-layer dApps, Bitcoin can render all the other pseudo-blockchains useless.

One metric that supports this hypothesis is Bitcoin Dominance, which continues to climb the highest levels in 10 weeks. I would not be surprised if Bitcoin dominance continues to return to the 2017 levels and beyond.


Cryptocurrency Market vs the Dot-Com Bubble

Comparing The Cryptocurrency Market to the Dot-Com Bubble and Speculating On Its Future Growth

Some interesting thoughts that crossed my mind today on the amount of room I think crypto space still has for growth. The market cap of all cryptocurrencies right now is about $416,998,204,401 ($0.417 Trillion).

The dot-com bubble went up to $6.7T before it “burst” (and yet some core products ultimately did survive). Adjusting for inflation, this would be more like $9.6T today. And the dot-com bubble was basically inside the US market, whereas cryptocurrency is a global phenomenon where anyone can invest, with a structure that allows for easy transfer of funds all inside a distributed public ledger, which challenges outdated models of value transfer and ownership records.

So with some rough math we can speculate that the overall crypto market can grow 23x, if it were to follow a path similar to the 2000 tech bubble, and if we take into account crypto’s global nature, it can go way beyond. This is just rough math but it gives you an idea of where we are as compared to where we were with the Y2K bubble.

Can we perhaps go even farther with the rough math? How many times do you think crypto can grow, or shrink? Share your thoughts below.

Uzbekistan to Create Blockchain Center, Integrate Digital Currencies

Uzbekistan to Legalize Cryptocurrency, Create Blockchain Center for Innovation

The President of Uzbekistan Shavkat Mirziyoyev endorsed a decree to create a center for innovation, with a unit that will focus on the ways Blockchain technology can be used for innovation.

By June 2018, under the Mirzo Ulugbek Innovation Center, a Blockchain center will be formed, which will focus on using the distributed ledger technology to improve various, potentially outdated processes. The center will also focus on increasing the potential of new technologies, on supporting national blockchain developers, among other things, according to Uznews, a news outlet focusing on Central Asia.

The document was developed under the President’s Decree “on measures to further improve the sphere of information technologies and communications”.

The document also outlines that Uzbekistan will be actively developing and integrating payment systems, including international systems such as PayPal, Alipay, Visa, MasterCard, etc. A set of measures is said to be laid out by June 1, 2018.

Bitcoin Wars: Why Bitcoin Cash is only contributing to the Divide and Conquer Agenda

8 Reasons Why Bitcoin Cash Contributes to the Divide & Conquer Agenda

This is a list of reasons why Bitcoin Cash, with its self-proclaimed “CEO” Roger Ver, have been looking really bad to me personally. It is just my opinion, but it is shared by many, and so I decided to outline some facts that I based it on. I’m not an expert at the processes that go under the hood and I’m as biased as anyone, so this is purely based on what I have been reading online. I follow lots of experts and thinkers and I read a lot every day, and I try to be critical when I read other people’s opinions before I form my own. So here are some of the main reasons I’ve come to view Roger Ver as a dishonest person, and Bitcoin Cash as a failed fork:

Upcoming 2018 Telegram ICO

7 Important Facts About the Upcoming Telegram ICO and Predictions for 2018

There is a lot of information about a potential upcoming Telegram ICO on the web lately. Usually this much info doesn’t just come around for no reason, and we can presume that this is a planned PR move, or a leak, but it’s unlikely that it’s fake.

The exclusive pre-ICO might happen as early as late January (this month), and the Crowd Sale late March.
Some important things to note:

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