The main purpose of the currency is to aid exchange of goods. But, here we are talking of currency as an asset-class, like the limited-Gold, contrary to the infinite-fiat (like Rupee or Dollar). This is what the block-chain technology promises. However, block-chain also … Read more
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The designers may or may-not fully understand the Hash or the Nonce or the smart-contract, the SHA or the Proof-of-Work algorithms and even the public-at-large remains oblivious and even wary of this seemingly “invisible” crypto-currency & asset-class. That does not stop them from being ultra-creative in order to build a creative logo and help build a brand around it. Fascinated by the technology and the blockchain creative designs here I collect and present the work of designers and branding experts with their imaginative and creative side designing and depicting the “chains” in the “block-chain” technology.
I try to collect these creative, cryptic, virtual, imaginative CHAINS that try to persuade and help brand the block-chain world. (after all, depicting a BLOCK would’ve been quite boring in itself.)
Blocks as-well-as Chain. Good start.
Chain, chain, chain with some gears powered/driven by digital electronics & mathematics.
Dollar & Contract & Shield & entangled Diamond rings?
Transport, PC, Mobile and Money in blocks locked by chains. Ummm… Block-chain!
The handshake protocol with the block illusion. 2-way, N-way chains?
Neat but broken chains. Forks and ICOs, maybe?
Digital blocks and Matrix display. Neo Block-chain!
Thanks for the label.
Maybe Morpheus and Oracle are trading crypto
Space, Stars, Galaxy, Constellation chain. Add-in some parallel universe, maybe?
Architect ICO chain.
Blocks and Snakes? Just kidding. Blocks forming into chains, quite literally.
Almost Bitcoin. H-H-H-H Hitcoin.
I like the colors.
What? Alien Weapon?
How many different ways can you depict a humble chain? The designers and creative people never disappoint.
Hope you enjoyed.
If you have come across more, nicer, block-chain logos, art and creatives, please mention in comments etc and I’d be happy to add them with proper credit to you for digging them out.
The world is really moving fast. The time appears short each day. It was only yesterday that you were using dollars to pay credit-card bills etc, while today you have transactions going on using Bitcoins and investments in Utility tokens! Yesterday you just worried about the percentage inflation and the eroding future-value of that hard-earned dollar, and today you are buying Bitcoins to preserve and even enhance its value over-time! What is your frame-of-reference to measure that value? Usually, measuring how-much your Bitcoins are worth in USD today and tomorrow compared to when you bought them. (You probably transacted into crypto-currency multiple times and every time its value was “quite” different, isn’t it?). As if, tracking your credit-cards and (multiple?) bank accounts was not a pain in itself, now you have your foot in the crypto-currency world and every coin/ICO/token you buy into, is a completely new dimension in itself. How do you, then, go about tracking crypto currency?
Do you (like me) find it easier when things are specified in USD (or the base-currency you use in your country)? Calculating the difference between your buy price (USD per BTC) and how much it is worth today (USD per BTC) gets you quite comfortable and happy with that resultant in USD, isnt it?
How about Ethereum (ETH), which you probably bought using your accumulated BTCs (and not directly through USD). Did you have the urge to find how much (in USD) you are paying for that ETH? Even if you didn’t calculate it before buying, you certainly did see its dollar-worth afterwards. As the crypto-currency world was looking quite exciting (both risky and adventurous), you started exploring some ICOs too, or are you not there yet? ICOs are quite risky because there is (yet) no formal method one can use to arrive at a value of their token, and most of them can be intentional scams and some of them even without a worthy block-chain use-case. But after your initial-study and satisfaction, you did buy those tokens today using ETH. The same ETH that you had bought earlier using BTC at an crypto-exchange-rate you don’s seem to remember clearly.
What was your average buy-price into the crypto-world?
The tokens you bought as investment, would be valued at a different rate tomorrow (hopefully much higher) but wait a minute, which rate? Tokens per ETH, or, tokens per BTC, or, per USD? While the value of ETH as well as BTC fluctuates drastically every day, how do you find the worth of your tokens any fine day? Unless you make tokens/ETH/BTC as your base-currency itself, it is quite a brain-wreck.
Consider another case where you think that being on ETH vs BTC trading is going to be better than USD vs BTC trading. So, you want to trade based on the varying differential between ETH and BTC and cash-in on the arbitration. Would you calculate USD per ETH and ETH per BTC for your decision, or maybe AFTER the transaction to see how much you made on that one? How about a third token, let us say ATL (Atlant.io).
Number # of ATL per ETH (get # ETH per BTC (get # USD per BTC)).
Every-time you are thinking about that, the rate is constantly changing, so you think “maybe” when the BTC is able to buy more ETH, you would be better off even getting those ATL (as compared to now). However, that is even more beneficial when you get more BTC with the same amount of USD.
It really starts messing up your mind. In the long term, the USD is itself affected by the inflation. That was the main reason you started moving from fiat money into crypto-currency. Today you have stopped basing the value of USD in gold. Gold remains a hedge but hardly a way to measure the value of your portfolio. So what value do you put to BTC? What is it that ETH is worth, and all those ATL tokens? It will be very different tomorrow! Maybe you will evaluate USD w.r.t. BTC one day, who knows?
Tracking Crypto Currency in Excel
I started putting the following sheet together to get some sanity in this madness. I don’t know what other methods you use (you can tell me about it) but the following started giving me some perspective, of “Where am I?”.
First of all, do the following for USD<->BTC transaction management. (This may very well be provided by your BTC wallet provider, but just be with me and you would start seeing the larger benefit)
Here is the column-wise description (Column B-D is FIAT money tracking while E-J is Bitcoin tracking)
- Date of Transaction
- Money (USD etc) transferred INTO your crypto-currency (BTC etc) wallet
- Money used to buy your crypto-currency
- Balance of your FIAT money (USD etc)
- Exchange rate of crypto-currency (BTC etc) w.r.t. your fiat currency (USD etc)
(Get the rate, from here or where you purchased it from)
- Description of your crypto-transaction (Buy/Sell BTC, Use BTC with merchant etc)
- Crypto-currency purchased (Auto-populated from money used and exchange rate)
- Amount used for the crypto-transaction (Column F)
- Balance of your crypto-currency in your wallet. (Auto)
- Balance of your crypto but shown in you base currency. (Auto)
So, at any point of time you get a full-view of the growth of your portfolio, not just in absolute crypto-coins but also in the base-currency reference. You can readily find out at what levels you purchased some of the coins, historically/averaged, and their value today should you decide to sell them. Now, this was not too difficult (given your wallet already supports this transaction history). The best part starts now, when you have to use multiple wallets and web-services to get into alternate coins (Ethereum etc) and utility tokens (ATL etc) etc and each one has its own transaction history and its own wallet or mobile app.
But, if you are here with me till now, the excel is easy to extend further. Here we use the same sheet but add more columns for tracking crypto currency Bitcoin to Ethereum exchange.
And, here goes the simple description of the new columns
- Etherum per Bitcoin exchange rate (or any-to-any crypto for that matter)
(For exmple, you can get it from here or your favorite exchange)
- Ethereum coin cost in terms of your base currency USD etc (Auto-derived from ‘E’ and ‘K’)
- Amount of Ethereum purchased (Auto-derived from “H” with exchange rate from “K”)
(Btw, this could have been any other alternate coin, and not just Ethereum)
- Amount of ETH used to purchase something else (Tokens or other ICOs)
- Your Balance of alternate crypto-currency. (Auto)
- Your balance of alternate crypto-currency in USD base-currency. (Auto)
Now, you should start seeing the benefit of this single-sheet as a reference of your USD, BTC, ETH portfolio that you can use for tracking crypto currency investments and its current/historical value for decision making, without getting brain-wrecked in this madness.
Adding an ICO transaction now becomes even easier, as you have your base excel sheet properly set. So, now you decide to purchase a token using ETH (which was bought using BTC at some historical price). The following addition to your tracking crypto currency sheet, gives you immediate reflection of what the token is priced at the current ETH or BTC or USD level. Without further delay, here you have the next set of columns:
- The rate of purchase of utility tokens w.r.t. ETH (or BTC, as your specific case may be)
- The actual cost of token in USD (Auto-derived from column ‘E’, ‘K’ and ‘Q’)
- Numbers of tokens purchased (Auto-derived from column ‘N’ and ‘Q’)
- Number of outgoing tokens (if any)
- Balance utility tokens (Auto)
- Balance of utility tokens but value specified in USD (Auto)
- Cumulative portfolio value of all fiat/USD, crypto, alternate and tokens with you (Auto)
So, finally here is what it looks like for my crypto-portfolio, a place for everything and all things in one place:
The best-part of this sheet are the columns:
- (J, P & V) for individual USD values of each crypto
- Column W for value of full portfolio at any day.
- Column (L & R) to check the cost for the token in base-currency terms (USD etc)
- A summation of Column (B): The total money you put into crypto over-time (plus how it is spread/diversified) and compare with ‘W’ portfolio value.
It really helped many times to get an overall view, and one specific time when:
I purchased a few tokens using ETH (exchanged via BTC), and I was trying to check how much my balance had gone down due to the purchase. To my surprise the value was instead showing an increase! A quick look at this sheet really help consolidate and reconcile the fact that the amount used to purchase the tokens was less than the amount of increase that happened in the BTC during this time. It would have otherwise brought in a lot of confusion if I started looking at individual wallets, their balance and old transactions one by one.
Reference Excel Sheet for download
You can download the excel sheet from here for reference and to build more functionality on top of it. You can add graphs or other currencies that you have invested into. (Note: The numbers in the excel are just EXAMPLES that you can change to track your own portfolio)
Hope it helps and you can give me further suggestions…
Denis Jašarević, aka Gramatik, is obviously picking up where David Bowie left off and taking this concept one step further. Together with Singular DTV, he can do what David Bowie probably always intended — to share his creations with the world in a much more meaningful way than was ever possible before.
Blockchain in the Music Industry
There are plenty of examples of other blockchain companies trying to revolutionize the music industry. For example, Tatiana Moroz, a singer and songwriter, is the creator of the “Tatiana Coin”. The coin is ushering in a new way of funding artists through a Bitcoin-driven platform which involves fans in a long-term relationship with the artist they choose to support.
Examples of the tokenization concept being put to use are becoming more common every day with projects like the LAToken platform and others. Enjin, for example, is a Blockchain-based platform that allows communities, content creators, game servers and game publishers to tokenize in-game assets through a minting process, allowing the tokenized digital goods to be freely exchanged and transferred by their holders.
Source: Core Media – Gramatik: DJ Goes Blockchain With the GRMTK token
What if you have at-least 1 coin per crypto currency – OCPC (One-coin-per-crypto). Now, this coin could be an earned coin, a mined coin, an exchanged coin, bought in an ICO, it really does not matter (except that it is not stolen money or gotten from any illegal means). There are good enough reasons to put money into crypto, the biggest one being diversification across available crypto currencies and the potential returns from at-least some of them. Not each crypto-currency would actually give a positive return, however, one is expected to put enough thought and discretion to consider the risk and have some logical reason (possibly long-term) to have bought that particular coin in the first place.
Why OCPC? Because I believe in the block-chain technology, the revolution it is bringing to the financial world and its impact on the economies around the world. However, depending on just one artifact or manifestation of Block-chain (eg. Bitcoin) is like selling the block-chain technology too short and remains too risky. This is not to say people have not made money with BTC, in-fact they have made millions, but I see it mostly behaving as a penny-stock with high volatility. Although with its huge price now and market share, the volatility might reduce and thus the sharp profit/loss.
Another point that I have in mind is, block-chain (the mother technology) is giving rise to many other alternate coins, some of which may fail, and some may surpass BTC, while each one provides a specific value in certain domain and each on thus create a focused market share. Discounting for the frauds in the Initial Coin Offerings (ICOs) and other such schemes, valid ALTERNATE currencies should not be ignored. Several other factors for alternate currencies:
- Hard-forks and other protocol updates may drastically affect the value of each crypto-coin.
- Who knows, that the “nonce” set today (to get leading 0s in the hash result) is not re-defined tomorrow to get a series of leading 1s instead. Both of them are mathematical computations for proof-of-work. The nonce “difficulty” can be tweaked and redefined too. How about the nonce creating a numerical series? It will just blow-out the number of possibilities of future coins.
- The main purpose of the currency is to aid exchange of goods. But, here we are talking of currency as an asset-class, like the limited-Gold, contrary to the infinite-fiat (like Rupees, Pounds or Dollars). This is what the block-chain technology promises. However, block-chain also does not limit us and there could be other limited-resources (other alternate coins) just like other elements (Silver, Platinum, Copper) that can also be mined or saved as an asset-class or hedge against fiat and inflation.
- I believe speculation and trading does not add any value to the society and human-kind or the world. Yes, some people including bankers and financial analysts do make lot of money out of it, but someone makes a profit because another one makes a loss. With the block-chain technology at-least there is an inherent resource (as mathematical as it maybe) that is being valued contrary to a fiat currency printed by various governments and setting the CRR (Cash Reserve Ratio) for it. Thus holding crypto for a long-term does make sense (not just Bitcoin by any block-chain manifestation that has a real-world valid use-case, market cap and as long as it hopes to be of some value to the world)
- Lots of players and companies have popped-up in the Bitcoin space for a quick-buck and sometimes even shaving profits out of others’ hard-end money. We have companies that are NOT real-crypto-exchanges, selling the Bitcoin at a much higher buy-price to gullible users and super-low sell-price, making a killing in each-and-every-transaction. Beware! they would make money from new-comers whether the prices of Bitcoins go high/low, whether you make profit/loss. Its better to buy stocks/share of such companies, rather than buying crypto-currency from them (alas they are not IPOs yet).
- Mining the newer/alternate coins may be easier and one can probably even get them at ICOs (Initial Coin Offerings) but make double-sure they are valid and have a non-superficial use-case.
How do I earn free BTC?
Let me re-phrase that for ya. Your question really means, “How do I earn free money?” So, do you get the picture already?
Someone would give you money, when he/she can really get something out from you. It may be your time, your friends contacts, your social profile etc etc. You may think you are getting some free tokens, or satoshi, or whatever, and all you have to do is watch some wasteful ads, fill some surveys, click or fill some continuous captas, forward the links to your friends or facebook profile, etc etc. Well, if you really think the time you are putting in those activities, is worth the money (and importantly help you grow further), by all means, go for it. Its not free money, however.
This section is to detail about my crypto holdings besides ETH and BTC.
I have currently bought into ATLANTIO after having gone through their Whitepaper and Youtube videos from their CEO and other team members. They are quite responsive to questions and its exciting.
However, after the ICO, the ATLANT.io token hasnot been able to preserve the investment value so far and rapidly went down on exchanges around the world.
I have looked at the IndiCoin and I am not too sure about the execution of this ICO yet:
- I don’t like the way they PoW is getting intermixed with video-recording and what not.
- Limited to Indian context (although anyone can buy/trade those coins)
- Why is there a need of block-chain in social welfare
- Even if blockchain is needed, why do you need a new coin and not use ETH itself?
- (Although I can earn some Indicoin bounty shares, if I write a positive blog article about IndiCoin ICO and share on my Facebook/Twitter, but that is not my aim here)
- Unless I have more clarity on the above questions, I will remain doubtful of this ICO.
After the ICO, the token has kind-of preserved its value, which is very good, although it may be because the cost of token was minuscule to start with. While many tokens like ATLANT.io were sold at about a Dollar per token, Indicoin costed about a Rupee per token (1 US dollar is about 65 Rupees). If the IndiCoin execution team plans the pipeline well, the token might become quite valuable! 🙂
Dynamic Pricing of holdings
Is Bitcoin deflationary?
Is Gold deflationary? There are limited coins, but each coin can also be sub-divided to individual Satoshi. Of course there are other alternate currencies that people can use/invest, but that is just like saying there are other metals besides Gold which are interesting to different people and industries. Hope you get what I am trying to say.
How is crypto (J coin and Lakshmi) different from Fiat currency
It is not same as fiat and it is also not too different from other crypto. These are alternate currencies using the same/similar base technology (block-chain) and each alternate coin does provide some additional feature or uniqueness or is tied to certain market (in this case a country).
Currency is a medium of exchange and crypto-coin is a medium of exchanging coins in a virtual-world (the world of computers and numbers we live in now), however, additionally, block-chain crypto coins are being treated as an asset-class (like Gold) due to the limited quantity set into each crypto-currency. Beyond speculation, the crypto has a huge use-case and benefit to the financial world and economy, as its value will depend on pure supply/demand and not get altered by a central authority to cause a deflation over time etc like we have with the cash saved in bank or home.
Not just J coin or Lakshmi, the Indian banks will start using block-chain based Utility Coin for settling transactions among them (Bank to Bank etc).
Now there are different people, some profiting from Bitcoin, some looking at Ethereum. I myself believe in the Block-chain. The bitcoin and other alternate currencies, J coin or Lakshmi are manifestations of the block-chain technology and in various forms. If the Bitcoin is Gold, then there are other alternate currencies that are like other metals like Silver, Copper and Platinum etc. Each one is used differently, each one has a value that varies based on its demand and supply and each one has a different availability and mining procedure.
Have we seen enough yet
A meaniglful and beautiful article here…
Please share if you like or comment with your views and help spread the knowledge…