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.
 
 

Image source 99bitcoins
 

REKT

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.

Image source 99bitcoins

Shill

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. 

 

 

Resources: Coin Bureau, Genesis Block

 

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. 

 

BREAK THE CRYPTO LANGUAGE BARRIER - Crypto Lingo Defined: BREAK THE CRYPTO LANGUAGE BARRIER - Crypto Lingo Defined ...

WHAT ARE THE MOST COMMON MISTAKES CRYPTO USERS MAKE?

 

Are you new to crypto? Or have you been blindly dabbling in the crypto market, getting caught up in hype or FOMO, and not understanding the pitfalls? We’ve all experienced some form of loss, be it falling for a scam or even something as fundamental as entering the wrong address in a crypto transaction.

We can be forgiven for any type of mistake or misguided decision we may have fallen victim to; after all, it is a relatively new industry. But the crypto landscape has now got twelve years of experience under its belt, pundits and enthusiasts have learned (albeit the hard way for some), and the industry has evolved. 

According to the Coin Bureau Guy, known for his research and impartial tutorials of all things crypto, including the traps and snags of the cryptocurrency world, for the purpose of this article, I have chosen eight of the most common and catastrophic mistakes the majority of crypto users tend to make. These mistakes are easy to avoid if only you know about them. 

 

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

1- No Strategy

Everyone who “gets it” envisions crypto as the next sovereign financial operating system, and Markethive and Cardano, are on a mission to do just that. The way it is now, the objective of many users in crypto is to make money and improve their financial situation. That is a great objective and one we all have; however, it isn’t a plan or strategy.

A strategy is vital as it will keep you informed about your investing decisions in a relatively consistent and pre-programmed way. Two of the main approaches to consider are either Trading which requires some technical analysis and knowledge of the markets. It curbs you from making quick and sometimes emotional decisions when trading particular coins. The other is Hodling;

More often, newbies starting out prefer to hold their crypto in a safe wallet. Hodling your chosen crypto will set you up for more long-term gains. Deviating from well-thought-out plans most often result in loss and heartbreak, as confusing changes can make it more challenging to know why your investments are not going according to plan.  

 

2 - Choosing The Wrong Exchange

So many have lost all their funds by simply choosing an exchange which turned out to be a scam. As the crypto market is still deemed the wild west, there are 100s of new exchanges springing up, with some having very questionable business practices. 

There are many legitimate exchanges out there, and a little research to find a safe and trustworthy exchange is needed and will pay off in the long run. 

It is becoming more apparent that the paid ads on crypto new sites are not impartial. Checking the forums at Reddit or BitcoinTalk can be an excellent way to see if there are worrisome trends regarding an exchange. 

You need to make sure the exchange has the coins or tokens you want to trade. You can find this information on either CoinMarketCap or CoinGecko. They are all easily verifiable on these sites. Also, verify that the exchange allows your country’s currency. 

Another thing to consider is if the exchange has restrictive policies for withdrawal procedures and if the interface is user-friendly. And watch out for those fees - From the trading fees to the deposit and withdrawal fees, they can vary and be quite expensive and certainly add up over time. 

 

3 - Not Securely Storing Your Crypto

There are many stories with unfortunate outcomes simply because crypto newbies chose to hodl and store all their coins on an exchange. It’s been notoriously easy to hack an exchange resulting in enormous losses for the exchange and customers. 

Having a small amount in an exchange is ok, but for people with large portfolios, hardware wallets are recommended and are the safest way to keep your coins from remote attacks by hackers. This is predominantly for crypto enthusiasts who want to hodl their diverse range of altcoins and, of course, for the Bitcoin pioneers that were smart enough to gather their BTC all those years ago. 

Crypto projects built on their own blockchain will have their own wallet apps, which can be considered safe to Hodl and transact. Like ADA on the Cardano Blockchain, ERC20 on the Ethereum Blockchain, and Hivecoin on the Markethive Blockchain. Another big plus for hodlers is that staking is also available via these apps.

 

4 - Not Keeping Backups For Wallets And Exchanges

How many times have you read news about some poor fellow losing his passwords to his wallet and can’t access their Bitcoin fortune? 

It’s crucial to make regular backups of all your seed words on paper. You will also want to make sure that you have backups of exchange passwords and two-factor authentication seeds.

 Are you aware that when activating your two-factor authentication, there is a backup code to reset your two-factor connection if you lose your phone? The only other way to reconnect to a new phone is a complicated and arduous verification process through the exchange.   

So be sure to write down all the codes and phrases in the order they are given to you, and keep them hidden in a safe location. (Don't be like me and forget where you put them :D) Some have even opted to store them in a safe deposit box, especially those with large portfolios.  

 

 5 - Sending Funds To Wrong Address 

Sending crypto to a crypto exchange on an unsupported blockchain is one of the most common mistakes. Too many newbies send funds to the wrong address as they do not check whether that particular crypto is listed on the exchange. 

You always need to make sure that you are sending that crypto to the correctly supported chain. There are also distinct differences in the address of the various cryptocurrencies. Once the funds have been sent to the address, it cannot be recovered in most cases. 

For example, Ethereum: prefix is 0x32Be3, and Bitcoin: begins with the number 1, 3, or bc1. 

Cardano has three types of addresses - Icarus-style: Starts with Ae2, Daedalus-style: Starts with  DdzFF, and the Shelly Era begins with addr1. Notably, Daedalus shows an error message if you input an address that is not valid (for instance, when using an address from a different network.)

It is advised to make a test transaction with a smaller amount to ensure that all is working correctly and that it is being picked up on the other end. 

 

6 - Telling People or The Whole World

Don't tell people how much crypto you hold and that you are invested in crypto. Also, don’t disclose the name of your wallet or where you have your hard wallet stored. There have also been cases of people asking for help on forums revealing their worth. 

Many brag about their good fortune showing screenshots of their wallet balances on social media. It’s surprising how much information can be gleaned from your social media profiles by potential scammers.

Not a good idea - No one needs to know how much you have or where you have it, and when you do this, you open yourself up to a robbery or worse. Have you ever heard of the $5 wrench attack? That’s just one and very real way they can get to you, up close and personal. 

7 - Falling For a Scam 

The most common mistake of them all is falling for a scam. We’ve all been there. But despite how far the crypto industry has evolved, there are still many scams infesting the crypto space. They range from Ponzi schemes to giveaways, pump and dumps to phishing attacks, and that’s another whole other article which I haven't written yet, or you can cut to the chase and watch this. 

Some are blatant and can be spotted easily; others are more subtle and can be very convincing. Like everything else, scammers are evolving and adapting and have even conned people who think they have a handle on these scams and are immune to them.  

All these scams follow are similar modus operandi. They all appeal to either greed or your fear and expect you to make a quick decision without thinking things through, and of course, there will always be newbies that are oblivious or walk around with rose-colored glasses that will be ripe for the picking. 

That is why the next section on DOYR is so critical to your crypto journey. 

 

8 - Not Doing Your Own Research (DYOR)

Not DYOR is one of the most fundamental pitfalls people tend to make and the most underrated investment edge. Most rely on tips from others which can lead to disastrous results. DYOR enables you to take ownership over your investment decisions, and just maybe, you will uncover those hidden gems quietly coming up through the ranks. It also improves your long-term education in the crypto landscape. 

Watching interviews with the founders and CEOs of a cryptocurrency project is an excellent way to understand and measure its potential. Also, reading a company’s blog is usually sufficient to get a sense of being true to its word, transparency, and where the project is headed. Checking out the white paper and road map to see if milestones are being met is also a must.  

What To Look For In A Cryptocurrency Project

To be considered a sound investment, a cryptocurrency must have the following criteria;

• The project has a real-world use case or one that solves a real-world problem.  
• The use case is easy for the average person to understand and see where the value is.
• The project has a functioning product that has seen decent adoption. 
• The crypto must have robust tokenomics and token allocations.

Also, the market cap of at least a few hundred million dollars with good exchange support and ample trading volume once a coin is listed on reputable exchanges. Be mindful, however, that the coins in circulation are distributed across the community, and not held by the founders or a few large investors only. This is generally a red flag. 

Notably, given the various utility and technological advancements of Smart contract coins, they are an extremely viable prospect going forward. 

What To Be Wary Of

Tread carefully with coins that have no purpose for utility. Dogecoin, for example, was created out of a meme as a joke by two guys, Billy Markus and Jackson Palmer. They used a guide they found online on how to clone scrypt based altcoins for fun and profit. 

“The original intent was a parody of all the serious clone coins that were trying so hard to differentiate themselves, but all seemed the same”, Marcus said. He added that it is one of the most volatile assets on the market. 

Community is integral to a project, and although the community has grown with Dogecoin, it seems the main thrust is the novelty and the power of social media and endorsements. Having no genuine use-case gives rise to pump and dumps and chronic manipulation. 

Elon Musk, a recent Doge fan, advocating and tweeting about the clone coin, resulted in a parabolic shift in the price. Since the SNL parody featuring Elon Musk, the coin tanked, revealing the volatility and manipulation whales and celebrities can invoke. 

Charles Hoskinson, CEO of Cardano, spoke about Doge in a recent video and his concerns for legalities and enforcement that can negatively affect the crypto industry due to market mania. 

One of the founders of Dogecoin, Jackson Palmer, left the project, citing his concerns about the space being overrun by opportunists looking to make a buck rather than people investing in evolving the technology.

The Bigger Picture

It’s crucial to take a step back and look at the bigger picture. The cryptocurrency market is still relatively new and has a lot of growth to come. Most of us have missed the Bitcoin bullet train of ten years ago, but there are gems out there going the extra mile, staying a step ahead and constantly evolving with emerging technology, addressing real-world issues that will give you a good return on your investment and make a sustainable, long-standing difference in the global economy.

Not just for the fun of it, but for the good and well-being of all humanity and securing a sustainable and prosperous future.  

 

 

*The information contained in this article is for informational purposes only. It is not financial or legal advice of any kind. 

 

Written by Deb Williams
Chief Editor and writer for Markethive.com, the social, market, broadcasting network. An avid supporter of blockchain technology and cryptocurrency. I thrive on progress and champion freedom of speech and sovereignty.  I embrace "Change" with a passion, and my purpose in life is to enlighten people en masse, accept and move forward with enthusiasm.

 

Strategies Used To Increase Crypto Market Value - And Then There’s The Markethive Way with MHV Coin

Strategies Used To Increase Crypto Market Value -
And Then There’s The Markethive Way 

Well-known Cryptocurrencies use a method to keep their market value high. It is also an attempt to offset inflation. This is called Coin Burning. That means when a sizable quantity of a coin’s supply is extracted, that coin encounters a heightened demand resulting in the price of the coin rising. 
There are a few different coin burn strategies being used and since most coins are experiencing similar price changes, it’s difficult to determine which strategy is receiving better results. The different approaches being used are explained below.

Burning The Circulating Supply

Numerous cryptocurrencies burn coins that are in circulation. This means they remove coins that are being traded or held by investors. In this case, the company that issues the cryptocurrency buys it back from the coin holders and exchanges.  
Binance does this a few times a year. It’s 7th coin burn eliminated 830,000 BNB or $16 Million this way. VeChain and Tron use a model resembling Binance also. One distinct advantage of the strategy is that the size of the burn is mostly determined by market forces and price action.

Burning The Non-Circulating Supply

Occasionally the practice is to remove coins that are not in supply, meaning coins that are allocated to team members, early investors, even the project itself. For example, EOS burned an account containing 34 million EOS which equates to $150 million following a community vote. 
In all probability, it’s easy to burn large amounts of funds like this, as the funds in question are usually located in just a few large accounts. But since these coins are not in general circulation, this type of burn doesn’t have an effect on the market or price. 

Burning During Each Transaction

Burning coins during every transaction is another model some cryptocurrencies use. VeChain burns 70% of its VTHO tokens which are used to pay for transaction fees. Notably, VTHO tokens are not VeChain’s primary VET coin. That gets burned via buybacks.
Ripple follows a similar strategy. It burns about 0.5 XRP per minute, which adds up to more than 250,000 XRP per year (this is subject to change). This strategy has a few things in its favor. It’s very easy to coordinate, and it shouldn’t have any unexpected results since it plays out slowly.
By spreading small burns across many transactions, this strategy should prevent any short-term market cap drops. It should also reduce confusion and misunderstanding among investors, thereby preventing secondary effects such as “panic selling” and other irregular activity.

Unofficial Burns, Dead Addresses, Lost Coins

Bitcoin and Ethereum are not issued by a central organization or project. These coins are mined by a community, so there is no group capable of planning an official coin burn. Instead, rules and algorithms prevent too many tokens from being created in the first place.
With that said, wealthy groups can take it upon themselves to carry out a burn. Antpool, a popular mining pool, began to burn Bitcoin Cash transaction fees in 2018. There was some controversy though, and plenty of disagreement over whether this was a legitimate way to boost Bitcoin Cash’s value.
Coins can also be destroyed inadvertently. This occurs whenever individuals lose access to their wallet addresses. There are estimates that suggest that up to 3.8 million BTC has been permanently lost. Even if this is accidental, it is effectively the same as burning 20% of Bitcoin’s supply.

Price-Targeting Burning 

Tether and other stablecoins have fine-tuned their burning strategy so as to achieve a specific price. These types of cryptocurrencies continually burn and also create tokens resulting in the price of the stablecoin is always around the $1.00 mark. 
This model isn’t generally applicable to other sovereign cryptocurrencies. Tether relies on the U.S Dollar as collateral. This allows it to achieve stability. The full process is quite complex, however, Tether’s coin burns fundamentally reflect the fact that U.S. Dollars are moving out of its reserves. 
What this means is that the coin burns do not dictate, but reflect Tether’s stability. This being the case, most cryptocurrencies cannot target prices as accurately as stablecoins do. But even stablecoins experience minor price fluctuations as their burns cannot always contend with market activity.  

Are the Coin Burning Strategies Working? 

I believe it’s safe to conclude coin burns are not harming crypto prices. I think the organizations relying on coin burns would cease the practice if it had any negative results. But so far they have stuck with their strategy since the beginning.
So there you have it. There are a number of different ways in which certain cryptos are attempting to keep their currency deflationary and increasing the value. Markethive has another unique system that will stimulate great results for its holders of MHV (Markethive Coin) 

The Markethive Way

Markethive has a Consumer Coin. (MHV) There is great Purpose and a complete Ecosystem of products and services built around this coin. The Markethive Coin is being utilized within the Markethive Exchange via Infinity Airdrops, faucet systems, and bounty programs that reward the user for any and all activity on the platform. Furthermore, MHV can be used to buy products and services within the Markethive environment from individual sellers and the company itself. So the coin is used within the commerce of the system creating an eternal economic velocity. 
The Markethive Coin is not dependent upon speculative value as is the case with many other cryptocurrencies and platforms and is a fundamental difference to the other systems out there. 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 revenue is a vehicle that is used to buy the Markethive Coin back in the free market so it can be redistributed into the economic vortex of the system. 

What Else Is Coming? 

Another portal that will be implemented in due course is designed to burn the coin. This is a good thing and will be extremely valuable to all associates in Markethive. To burn the Markethive Coin means pulling it out of the marketplace, so there’s less supply. The less supply, the greater the demand, which in turn increases the price of the coin. Piqued your interest? 
More information about this will be delivered as and when it comes to hand. To keep up to date with the progress of Markethive and the ingenious implementations that will benefit all of us, join us at the weekly meetings held on Sunday Mornings at 10 am MST. These meetings are hosted by the CEO, Thomas Prendergast, and CTO, Douglas Yates. The link to the Markethive Zoom Room can be found in the menu at the top of your markethive home page under Calendar.

BONUS!

Attendance at the live meetings (which, by the way, are not recorded) is constantly improving, however, as Thomas stated in last week's meeting if we can get 100 people to this week's meeting (Sept. 8th 2019) he will reward every single person that attends 100 MHV. Now that's a great incentive! See you there! 

As passionately reiterated by Thomas Prendergast,
“Everyone in Markethive is going to prosper and become wealthy because of what we are doing. Early adopters will obviously have a really big head start, but this is going to continue on for every single person, even if they join up in 10 years from now. Markethive will always be built on the premise that nobody gets left behind.” 

Conclusion 

The future is bright for us as Markethive takes all the steps to ensure the long-term sustainability of the Markethive Ecosystem. The MHV Coin will inevitably increase in value, securing your success and prosperity within the realms of Markethive and beyond.





Deb Williams
Market Manager for Markethive, a global Market Network, and Writer for the Crypto/Blockchain Industry. Also a strong advocate for technology, progress, and freedom of speech.  I embrace "Change" with a passion and my purpose in life is to help people understand, accept and move forward with enthusiasm to achieve their goals. 

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Millenials prefer investing in Crypto

Millennials Next Financial Investors Going Crypto. What Does That Mean For Gold and Fiat? 

The CEO of Digital Currency Group, Barry Silbert, clarifies his reasoning why the game changer’s of tomorrow are outfitting to dump gold for Bitcoin and other advanced resources. 

Silbert's Grayscale Bitcoin Trust, which permits regular financial specialists access to BTC, increased 192% in the second quarter of 2019, surpassing all other funds for the first half of the year. As an early Bitcoin speculator, Silbert has a long-term outlook on the rising innovation of technology, having viewed cryptocurrency fluctuate aggressively through many bull and bear cycles. Presently, by checking the quickly thriving enthusiasm among institutional financial specialists, he accepts gold's status is firmly deteriorating. 

The main concern and bottom line as to the state of gold is it’s clunky, bulky, inconvenient and not conducive to smartphones – not really a Millennial thing, who shop on Amazon, hail rides on Uber, search information on Google, make companions on Facebook, get together on Tinder, stream programs on Hulu, tune in to music on Spotify and track their pulses on a Fitbit.

Silbert is sure the appeal that gold did have will relinquish, right along with physical dollars. He states

“It’s clear that money is going digital, and it’s clear that in the future, physical cash is going to go away. And it’s also clear based on history that fiat currency tends to not exist into perpetuity. The average life of fiat currency over the past 500 hundred is 27 years. So what that means is, on average, in 27 years, a government will destroy their currency or devalue their currency, typically through debasement or through war.”

Silbert says he doesn’t see Bitcoin replacing the US dollar in the short term, but he recognizes we are seeing a changing tide in places like Venezuela, Argentina and other countries with struggling economies where cryptocurrencies have certainly gained a place and paved the way for further development in these challenged economies. 

“It’s clear that something other than the local fiat currency would have real demand and real appeal.”

Barry Silbert shares,

“I think what many gold investors don’t seem to appreciate is that the next generation of investors, the next generation of asset allocators, do not view gold the same way that our parents or grandparents did.”

“Over the next couple of decades, there’s an estimated $68 trillion of wealth that’s going to be handed down. That’s just in the US. That $68 trillion is going to be handed down from Baby boomers to Gen X and Gen Y and Millennials. I’m absolutely convinced that whatever of that $68 trillion is currently in gold, it’s not going to stay in gold. I’m not saying it’s going to Bitcoin but I know it’s not going to stay in gold. So if gold stops performing the way gold investors think it should in periods of high inflation or macro-economic dislocation, I think it’s game over. I think the next generation of investors is going to put their money elsewhere.”

While the 487,000 gold bars weighing in at 6,190 tons or around 12.4 million lbs the Federal Reserve Bank of New York holds for its clients such as the US government, foreign governments, central banks, and other institutions, it continues to decline. The growing number of bitcoin and cryptocurrency supporters declare crypto is a far superior way to store wealth. It’s portable, lightweight and traceable and not held by any conglomerate. 

Over the last 10 years since the advent of Bitcoin, Society has gone through 5 different phases. First, there was denial, then skepticism, then an intellectual curiosity coming through to believing in the new currency and finally evolving into evangelists where cryptocurrency is seen for the greater good it can accomplish for the people en masse. 

Necessity Is The Mother Of Invention 

Necessity being the mother of invention has brought forth visionaries, architects and originators of technology to rise up with the purpose of benevolently wanting to see the world a better place. This is now proven as the unbanked and struggling countries experience a better economy, autonomy and financial freedom that was sorely lacking. 

We’ve seen how our privacy has been invaded and free speech curtailed to the point where some lost their livelihood due to being deplatformed from the tech giants of social media. Free enterprise is diminished by the monopolies, and yet there are more people than ever trying to create a home-based business. Many of us strive for a better life for our families and endeavor to seek opportunities that the technology of today can bring. But who do you trust? Is there a place of integrity where the entrepreneurial mindset is revered, not just for the elite or professional, but for the little guy and gal looking to free themselves from the tyrannical pressures? Yes, there is. Read on… 

Markethive - A Step Ahead Of The Rest

Markethive and its creator Thomas Prendergast envisioned what has come to pass is the balkanization and autocratic style and behavior of the very influential tech giants that have monopolized the social media and marketing space since the early noughties. What may have been good intentions is becoming a disaster for humanity on every level. 

CEO and Founder of Markethive Thomas Prendergast says,

“Markethive is a philanthropic endeavor. To give, not take. To help not exploit. Markethive is a safe, secure, generous, unique and simply the most powerful marketing social network an Entrepreneur could have. Markethive is an easily understood, gamified, monetized and incentivized to bring the connection back to humanity to really help share and grow each other. We have a culture and a system whereby all users are rewarded for their activity instead of being stripped of everything we do by the social media monopolies for their own gain. The Markethive platform can be utilized by everyone.”

Markethive is the first Social Market Network to be built on the Blockchain. What that means your privacy is ensured, freedom of speech and autonomy is paramount. Markethive has listed its coin (MHV) on an exchange while still in beta until its own exchange and wallet is implemented. 

When I asked what impact will this coin have and how is it utilized for the benefit of all in the Markethive Ecosystem, this is what Thomas had to say,

“The Markethive coin will not be dependent upon 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 to 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.”

He went on to say, 

“The Markethive Coin is a Consumer coin, is being utilized within the Markethive exchange by way of airdrops and the faucet system which rewards associates using the platform, so the coin is used within the commerce of the system thus creating the velocity. The Revenue is a vehicle that is used to buy the Markethive coin back in the free market so it can be redistributed into the economic vortex of the system. Once the Markethive Exchange and wallet are introduced that will allow Markethive Members to convert their coins to a number of strong cryptocurrencies including Bitcoin and fiat. So now is a perfect time to accumulate your coins” 

Thomas concluded by saying, 

 “My vision is to empower and bring prosperity to every living soul with a purpose. Even if that purpose is only to be free from the shackles of the Social Media tyranny we all face. This is a new era with the evolution of technology. It is the next generation.”

“Markethive will be huge. We got things rolling years ahead of others” 

People are now flocking to Markethive. They see what this system is capable of and how they can benefit. Even though Markethive is still in Beta, the Inbound Marketing tools that are forever free, by the way, are operational and the social entrepreneurial culture is alive and well. The launch is set for the 4th quarter of 2019 after 4 years of implementing the Blockchain and perfecting this state of the art system. This is the next generation of all things Social Media and Market Network. 

Published on https://news.livecoinwatch.com/millennials-investors-going-crypto/

Deb Williams
Market Manager for Markethive, a global Market Network, and Writer for the Crypto/Blockchain Industry. Also a strong advocate for technology, progress, and freedom of speech.  I embrace "Change" with a passion and my purpose in life is to help people understand, accept and move forward with enthusiasm to achieve their goals. 

Blogcasting At Its Absolute Best With Markethive

DID YOU KNOW?

Markethive’s Blogcasting platform has many powerful benefits. Just publishing on the platform brings you traffic. The blog gives you visitor display at a glance but also gives you deep traffic analytical detail on visitors, country origin, time on site, bounce rate, referrers, keywords, social sites, and a data-driven matrix. 

Markethive has a place to register your social accounts, so you and others can subscribe to yours and others Markethive blogs. We also have a plugin for your Word Press site that publishing your Markethive blog directly to your WP blog, then broadcasts it from there as well (optional). Every time you publish a blog, that article is posted out to literally hundreds even thousands of social network news feeds and Word Press sites, nothing like it anywhere else for any price, only here. BLOGCASTING  to the Moon!

Need Help With Integrating WordPress Plugins? 

Never Fear, Markethive is here! For a nominal fee, Markethive has the SNAP Department ran by Steven Cavan, an expert at API Plugins. Contact him to find out how you can increase your Presence and Reach to billions across many Social Media and Blogging platforms. This negates the need to visit each and every site, every day to promote your business. 

The new Layout in the image above is under development at present but when it's integrated, you will find it on the menu at your profile page settings under Social Networks. At the moment there are some Social Networks already there where you can hook them up by clicking on each one and following the prompts. That will ensure your account at Markethive is linked to your other Social Media accounts. You will then be able to utilize the features explained below...

Now let’s delve into the workings of Markethive’s Blogging System, the features and benefits of Blogcasting...

What Is Blogcasting

If you were to do a Google search on the word Blogcasting, you would find this definition: 

“A blogcast is simply the combination of a blog and podcast into a single Web site. A blog is a weblog or journal, that is available on the Internet. A podcast is an audio or video file that you share with visitors or subscribers to your site.”

A New Definition

Markethive now has this terminology to mean something very powerful.“Blogcasting” is a play on the word “Broadcasting”, which is the term used to simultaneously transmit the same message to multiple recipients, commonly done through an email system. Blogcasting is the reach that goes beyond this technology. It gives you the ability for an unlimited amount of people to subscribe to your blog through all social media and blogging platforms which could literally have millions of followers notified of your blog.

In the traditional sense of broadcasting, usually, only the people who physically subscribe to your blog or newsletter are notified of your updates via email. With this blogcasting system, all your social networks are informed of your blog as and when you publish them. This means the potential reach is into the millions. 

For example, If I subscribe to your blog and I have 20,000 followers across all my social media accounts, and you have 15,000 subscribers each with a similar following, your blogs have now been potentially seen by around 300,000,000 people which by enlarge are not directly subscribed to you. This is called a “reach” and extremely powerful. 

Blogging is not new, and it’s proven to be the best way to market, nurture relationships and brand yourself as an expert in your field building trust which in turn increases followers, client base and sales. It is also known as Content Marketing. Markethive with their proprietary Blogcasting system has certainly made it exponentially more powerful.  They have certainly added fun, understanding, reach, groups, daily workshops, understanding and power to the process.

Markethive has not only successfully combined all the technical and tactical aspects and requirements into one system, but have also overcome the obstacles to make blogging a group process, combined with motivated mentors to help the newbie easily immerse and embrace the process.

Word Press has been around for years and known to be the world leader in Blogging platforms. Markethive recognizes this and has significantly taken Word Press serious and made it exponentially better. This blog’s focus is to help you understand the paradigm dynamic shift Markethive has brought to marketing, blogging and the individual within the hive.

The Blog Cloud 

The following video attempts to reveal and illustrate how the whole social blogging platform in Markethive changes the entire Internet field of engagement.

The Reach Blog Cloud by Markethive

Markethive’s Inbound Marketing platform delivers a blogging system built for the beginner, sophisticated for the intermediate and an extremely powerful platform that advanced professional bloggers will appreciate. The system is designed for the easy development of a complete blog system, yet advanced and easily set up to be the engine that powers your Wordpress blogs. 

The blogs are Google friendly. When your blogs are shared and consequently clicked on, they move up in the search rankings. If you’re providing quality content, your readers will want others to know. Of course, the only way to make sure your blogs contribute to your website’s popularity is to create unique content, provide answers for visitors, and then share your blogs wherever you can. 

That key point “Share your blogs wherever you can” is another way of saying “Broadcast” them. And Markethive has taken Broadcasting to new heights with Blogcasting.  Blogcasting is a Markethive subscribe feature that other Markethive members use to subscribe to your Markethive blog. When they subscribe (and the potential is 1000s of them), your blog posts are automatically posted to their Facebook Newsfeeds, LinkedIn activity feeds and your Twitter tweets feed.

When you understand that this downstream of subscribers, fellow entrepreneurs at Markethive, are exposing their connections to your message, they are lifting you up, increasing your popularity and building greater branding for you.

Through the News Feed and Blogcasting, it is possible to promote any and all products and services on a global scale with a reach into the millions. Markethive receives on average 250,000 visitors daily. The reason is that when people make searches if the content on my blog is what they are after then they will find me! 96% of the traffic is non-member related. So the majority of the people I am addressing on my blog does not even belong to the site. 

Then there is the Blog Sharing feature that also allows your fellow Markethive entrepreneurs to import your blog posts to their WordPress blogs using the SNAP plugin increasing your message (your posts) to another 25 of their social networks, Facebook Pages, LinkedIn company pages, StumbleUpon, Tumbler, Livejournal, Blogspot, etc, exponentially increasing your exposure and adding to your backlinks.

When you discover the responsibility this represents that you show respect, produce quality content to your loyal downstream, you now have the opportunity to build a huge popular following. This is exactly how members are able to grow their business. Easily grow your social reach into the millions! It’s that Powerful, It’s that simple, That’s Markethive.

Blog Swiping 

Markethive blog system allows you to make your content available to the entire public population within Markethive, or just to your friends or just to members in all the Groups you belong or a selection of them or just one (your choice) or private so no one can Swipe your blog.

Why? There are many sound reasons for this.

• Curating: Content curation is the process of sorting through the vast amounts of content on the web and presenting it in a meaningful and organized way around a specific theme. The work involves sifting, sorting, arranging, and publishing information. Markethive offers features to the groups you create. Groups are platforms for blogging. Simply set up a Curating Group for yourself and Swipe the blogs in Markethive as a collection of content you may want to use in your publications.
• Proofing: You may have a group of members that want to edit and rewrite your content. This is an active phenomenon in Markethive. Produce a blog and you will get many critiques so I just offer to them to swipe it, edit and change it as they see fit then let me know. If I like it, I swipe it back. 
• Cocktails: With Markethive’s ability (feature) to create unlimited Groups each with a different cocktail of content curated, aggregated or from multiple Group memberships, the options to produce unique content for unlimited Wordpress blogs controlled from within Markethive is unlimited.
• Then there is the learning curve: Total newbies keen to learn how to blog but afraid to take the first step have been mentored within Markethive. The live training webinars and recorded tutorials along with the ability to swipe a Blog it makes it so much easier to get started and new bloggers go from poorly and rarely produced blog posts, to 1-2 dynamic and excellent on-topic blog posts daily. In other words, Thanks to the collaborative culture and mentorship, Markethive is now churning out a new breed of excellent and dynamic bloggers. 

By blogging, you build relationships with your readers, position yourself as an expert in the field, and perhaps most importantly, provide new content for Google to index.

By joining Markethive you build relationships with thousands of others who are actively building a business, blogging, researching, etc. basically being “entrepreneurs” and advancing their businesses and agendas. Often you can join with these people as friends, group members and subscribers of theirs via Blog Casting, Blog Sharing, and Blog Swiping.

Since being integrated on to the Blockchain, Markethive pays you to sign up, they also pay you to use the system and they pay you to promote it. It is a blockchain so security and privacy are key and this is also why they can pay you. Go sign up, it is free to use all the marketing and blogging tools, get paid 500 MHV Coins on joining and enjoy the tipping feature. Why not get “Tips” instead of “Likes”. Here at Markethive it really does PAY to be active and engaged. 

The moment you join Markethive you have an instant setup of your own “Viral Blog” ready for you to begin posting content and marketing your business, product, service, or even personal content. You’ll be up and running the moment you set up your account! Markethive, The Rise of the Entrepreneur. We have put a great future in your hands. Now it is up to you.

Deb Williams
Market Manager for Markethive, a global Market Network, and Writer for the Crypto/Blockchain Industry. Also a strong advocate for technology, progress, and freedom of speech.  I embrace "Change" with a passion and my purpose in life is to help people understand, accept and move forward with enthusiasm to achieve their goals.