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 ...

MARKETHIVE'S NEW INTERFACE - AN INITIAL OVERVIEW ILLUSTRATED

It is next-level Markethive Interface , delivering every function and aspect available, fitting for the entrepreneur, business, and corporation.

 

An innovation that is set to change the way we work and interact online. 

The Markethive Social Market Broadcasting Network becomes more prominent daily as the blockchain-driven ecosystem for entrepreneurs with a non-adversarial, bi-partisan free speech ethic and the collaborative culture we rarely see on social media platforms today. Even the newer acclaimed free speech platforms are partisan to the left or right and deal with deplatforming and boycotts from payment providers.

It’s widely notorious that the actions of the tech giants have divided nations and are the source of countless societal harms, including rampant censorship, promoting violent extremism, spreading false information, and unfairly stamping out its competition. 

Instead of improving the user experience to one that users would welcome, legacy big tech is somewhat distracted by its self-induced problems. It’s now under scrutiny by government policymakers with the overall consensus that something should be done to reign in the centralized power or structurally break up the technocracy. 

To circumvent this, Facebook is focused on updating the internet with new regulations to appease critics and leverage its new Oversight Board, while Twitter grapples at the idea of integrating a more decentralized approach to the platform, specifically giving users an algorithmic choice by opening up its news feed to third party algorithms selected by its users, which could undoubtedly customize the user experience, but still be under a central authority. 

 

Markethive Goes Next Level

Known for its evolutionary and innovative ethos, Markethive continues to expand its decentralized “all-in-one” platform with the development of a unique news feed interface that completely embodies the user experience (UX) in the framework of “don’t make me think.” A concept brought to light by author Steve Krug, a usability expert, cites that usability is fundamentally about human psychology. 

The book “Don’t Make Me Think” was first written in 2000 and revised in 2013. Since the turn of the century, technology has changed rapidly. Yet, the principles in the book remain the same because something is only considered usable if an average person can figure out how to use it to achieve an outcome without it being more trouble than it’s worth. Krug breaks this down into three laws as shown in this infographic below:

Key Quote

“Usability is about people and how they understand and use things, not about technology
...while technology often changes quickly, people change very slowly.”

Once it is understood how the human brain works, these same insights can continue to be applied even as technology and landscapes evolve. So usability is not just about technology; it’s about understanding how people think and behave to build better things, giving the user a more seamless and more straightforward experience when navigating.

Unlike the social media giants, which only have one primary news feed that is algorithmically set by the central authorities, Markethive is introducing four news feeds to accommodate the multi-functional platform within the Markethive ecosystem. The individual feeds are General, Video, Blogging, and Content Curation. They are all accessible from the main page and can be algorithmically set by the individual user. 

The scope that Markethive has is enormous as it integrates all the vertical systems of the other platforms under one roof. 

Social + Video + Blogging + Marketing + Curation + Broadcasting = Markethive. 

It’s a monumental project that can be overwhelming for the average person. It’s no wonder social media platforms are predominantly single-function and centralized. Technology has advanced with Blockchain, and Crypto is becoming ubiquitous and gives rise to the decentralized, privacy, and autonomy components of social media. Something that the established dinosaurs would find near impossible to integrate at its highest level.  

Enter Markethive, and although it has enjoyed longevity, it can integrate cutting-edge and unique systems. It is next-level, delivering every function and aspect available, fitting for the entrepreneur, business, and corporation. A clean design, not cluttered, intuitive for easy navigation, and simple to carry out tasks for all users on every level is crucial for website stickiness and the overall success of our entrepreneurial users.

 

The New Main Page Interface Explained

The following images are a basic mockup or draft, subject to enhancements, to give you an idea of how the new main page will look with the various news feeds and menus. It is definitely something to look forward to upon its integration. 

 As quoted by CEO and Founder of Markethive, Thomas Prendergast,

“We are making major changes right now to the entire layout and aspects of the system. New look, better navigation, rebuilt Page making system, improved alert system, all in preparation of the Wallet. 

Understand this major uplifting has been in the works for several months, and we are close to its completion. Along with this are new upgrades, The Boost, The Wheel Of Fortune, The Premium Upgrades, etc.”

The format is horizontal, not vertical, like many other websites making it more readable and less time-consuming in terms of navigation. The vertical side menus are gone, along with the busy text in the blue bar. 

At the top of the main page are the Super Banners. This is prime real estate and specifically for Markethive, the company. There are currently three banners to be displayed in this space;

1. The Wheel Of Fortune
2. The Entrepreneur One Upgrade (while they’re still available) 
3. Acquire Your Own Golden Goose - ILP

Anyone else inside or outside of Markethive wanting to place a banner there will pay top dollar.  
The real estate below the blue bar is for the markethive community and placement of their banners.

Compress Banner Real Estate

The X in the top right corner, when clicked, removes the Banners and tray, allowing the HTML editor and news feeds to move upwards. Clearing that real estate gives you more space to work, which can be very handy on a small screen like a mobile or tablet. 

This feature is for Entrepreneur one upgrades only, so the X will only be visible to upgraded accounts. The banners and tray will continue to be hidden while the user is active within Markethive. They will return and be visible once the user becomes inactive for 30 minutes or more or logs out. 

Floating Banner Ads

There will also be Markethive floating banner ads which can be closed for a thirty-minute period unless you’re an upgrade, in which case it stays closed for the duration of your stay. If clicked on, it will take you directly to the area any given banner stipulates. For example, the Wheel Of Fortune floating banner, shown in the image below, will take you directly to the shopping cart. 

There are numerous floating banners, as described below, that will sequentially be displayed, giving you easy access to wherever you choose to go with just a simple click on the banner. 

• Wheel Of Fortune. Every spin is a winner. 
• Banner Impressions Exchange. (BIX) It takes you to the exchange 
• Acquire Your Own Golden Goose - ILP. It takes you to the shopping cart. Payments in Hivecoin.
• Entrepreneur One Upgrade. It takes you to that dedicated shopping cart 
• Community Support. It takes you to the Telegram Markethive support channel until we integrate a customer support portal within the Markethive system.
• Markethive Tutorials Get Paid To Learn. Currently in development and will be covering the fundamentals of the Markethive system through setting up marketing campaigns, video, and influential marketing.

Multiple Pulldown Menus 

Multiple pull-down menus will be replacing the side menus on the main news feed page and the profile page. These are now all accessible on one page on the blue bar under Settings, Shopping Cart, and the Notifications bell icon also named Alerts Control. This allows you to configure the blue alerts bar and provides click menu navigation. In other words, you choose what icons you would like to display. 

All the settings displayed that could only be accessed on the left of the profile page are now accessed on the main interface, including general profile page settings, payments, Vault, ILP purchases, login account, social accounts, and hive ranking. This makes it a lot easier to navigate and is much more intuitive. 

There is also a pull-down menu under Shopping Cart that displays the status of your cart (whether it’s empty or has items pending in it). 

The shopping cart menu takes you to the Markethive store and the Advertising services, which are strictly for the Markethive Press Release program, the Boost, social network broadcasting, digital banner advertising, and video advertising. As these services are introduced, you will find them in this pull-down menu. 

A series of upgrades will also be displayed under the shopping cart. Currently, there is the E1 upgrade and soon to be added the Apprentice Upgrade, which will be renamed the Premium Upgrade. There will ultimately be multiple levels of premium upgrades which will all be located in the shopping cart pull-down menu. 

For the purpose of this article, the image below displays all pull-down menus opened and can be accessed by clicking on their respective icon. 

Combined News Feed - The New Innovation

Now for the pièce de résistance and Markethive’s claim to fame. The combined news feed interface is a first in the social media environment. It includes the four primary feeds being the general Newsfeed, Blog, Video, and Curation feed. 

So what’s the big deal about a news feed?

The news feed is the heart and lungs of Markethive. Everything around it is the bones or structure of Markethive. It all starts at the center, being the newsfeeds and works outwards and is the dashboard or control center, where every aspect of Markethive is easily accessible. 

The combined pulldown menu also includes the Groups feed, Campaigns, Games, Store, and Email feed which can also be set algorithmically by you. You choose what and who you want to see in your combined news feed. 

You can choose only to see what you’ve posted, select by geo-location, friends, Tube feed, Blog feed, Group feed, etc. You can access these configuration tools in the tray just above the HTML editor, housing the stats tools, tracking devices, posting tools, sorting and filtering tools, editing, and upload tools.  

Posting in a news feed has become a lot more exciting with the ability to stylize your text (bold, italics, text size, font type, hyperlinks) add embed videos and images, similar to the current blog editor. 

Whatever task you do, you will access it from the combined feed pull-down menu. For example, if you want to upload a video in the Tube Feed, it will open up the tool page for you to upload it. 

You do not leave the main page for any task you perform. This is where you access all your interfaces. E.g., The video upload interface, the blogging platform, the curation control panel, etc. You will be able to add, edit and monitor everything you do right from the main page. 

Whatever you choose to see in your combined feed will be displayed: Videos from the Tube Feed, Blogs, Capture Pages, Groups feed, General postings, everything will be displayed on the page.  

You will also be able to subscribe to any post in your news feed right from the main page. Each post generates a permalink that will show when the post is broadcasted to other social media sites, displaying the profile page with a summary of the post. Clicking on the Permalink below any post in the news feed will open up a lightbox of the post as illustrated in the image below.

A lightbox is a window overlay that appears over a webpage, blocking some of the content and dimming and disabling the rest of the background. This ensures a site visitor cannot interact with other content on the website until they take action — either by clicking a button, filling out the popup, or exiting out of it.

The comments are also displayed in the permalink lightbox. When clicked on to view or comment, it’ll forward the viewer to Markethive. If the viewer is not a member, a registration banner will pop up inviting them to join Markethive. 

Clicking on the permalink also allows the viewer to peruse your other posts. You can tip on the newsfeed post and on the permalink lightbox of the post. To comment, you click on Comments on the post which will open up the permalink lightbox. The timestamp displayed next to the permalink will show the hour, day, month, and year. No more wondering what year the post was posted! 

In Closing...

Everything is at your fingertips on this one page, making it very intuitive and mobile-friendly. The dynamics will change completely, and you won’t have to navigate to individual pages within the Markethive system. All configuration, filtering, and searching are done right from the combined news feed interface. 

Posting any of your content remotely, whether it be blogs, videos, or general newsfeed posts, will be made instantaneous and straightforward with the new interface. Markethive will be infiltrating every corner of the internet universe and become a household name.  

The whole interface is streamlined and purposely created in a horizontal fashion with minimal to no advertising, so it is not overwhelming for the average and new user. So many websites, blogs, and digital media articles are so cluttered up with vertical side columns and advertisements, making it annoying and virtually impossible to read or comment on the site. 

Markethive has always been a pioneer and ahead of the curve, initiating a social network before social media became a thing, starting with Veretekk in the nineties. It is a Divine inspiration, a vision that is coming to light. It’s one of integrity and can command authority with its clean, polished new look and navigation.  

So what we have here is an outline of just part of what’s coming in Markethive. There is much more to this monolithic concept and project, and all of this is discussed at the Markethive meetings every Sunday at 9 am Mountain Time. (MDT)  

So what time is it in your part of the world? Go here to find out. The doors to the meeting room are closed 5 minutes after commencement. Latecomers are denied access, so get there early. 

You can keep yourself up to date with the latest news and developments of Markethive as they happen. To access the meeting room, go to the Calendar and click on the link provided. See you there! 

A special thank you to the founders Thomas, Douglas, and Annette for their insights, inspiration, and dedication to bring the next generation social market broadcasting platform, far removed from the chaos of the legacy tech giants. A completely, decentralized ecosystem, impervious to the tyrannical forces that have subjugated humanity. Welcome aboard to all and be ready for an exciting transition and transformation of Markethive. 

 

 

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

MARKETHIVE'S NEW INTERFACE - AN INITIAL OVERVIEW ILLUSTRATED: I...

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.

 

MARKETHIVE | A GIANT BLOCKCHAIN CRYPTO PROJECT - FIRST IN 100% DECENTRALIZED SOCIAL MARKET MEDIA

 

GIANT BLOCKCHAIN CRYPTO PROJECT - FIRST IN 100% DECENTRALIZED SOCIAL MARKET MEDIA

...And They Said It Couldn’t Be Done

MHV poised to triumph in the crypto economy.

Cryptocurrencies have many use cases. Some act as a store of value, others power blockchain to make it possible to create trustless digital contracts and permissionless decentralized applications. Some cryptocurrencies are pegged to fiat currency allowing for stable transfers of value, and some underpin protocols that offer decentralized data storage and video streaming. 

Each of these use cases requires a particular set of blockchain attributes and economic incentives. Many say that there is no single cryptocurrency project that can do it all; however, there is one that comes very close in a field that has been, for the most part, put in the too-hard basket by the majority. 

Who Dares Wins 

Markethive is a monolithic blockchain project currently operating as a social network, an entire inbound marketing platform with email, blogging, and digital media capabilities that broadcast to the vast internet. It’s a complete Market Network and the first of its kind. 

Markethive is predominantly a free system where users can access a platform that can cost more than $2,500 offered by other marketing platforms. There are, of course, upgrades that open up more tools and monetization opportunities, the first being the Entrepreneur One Loyalty Program, and coming soon is the Apprentice membership. 

The many domains Markethive has, and it's autonomous cloud systems that ensure its sovereignty and longevity make it untouchable and immune from the tech giants’ rule and biased agender. But can still remotely infiltrate the social media platforms and reach the multitudes either locked in or looking for an alternative meritocratic medium.

In other words, wherever you go, Markethive is there, anywhere and everywhere, delivering its message via its community of entrepreneurs to a far-reaching audience. This next-generation social market media is poised in the wings, and when the time is right, it will emerge as a shining light to lift people up and bring financial sovereignty and hope in this gloomy and uncertain world.  

The video platform, conference rooms, and the unique four specific news feeds currently in development, and many other projects and incentives add to the credibility and need for an ecosystem in the social media and digital marketing space. 

Now in the final stages of BETA, Markethive will officially launch with the release of its first crypto exchange wallet, which is basically a portal to the many coin exchanges MHV will be listed on, and is close at hand. (Not to be confused with our Dapp multi-functional wallet in development). 

Meanwhile, the growing user base is accumulating their Markethive Coins (MHV) in anticipation of the release when they will be able to transact using MHV within the Markethive system and externally.

What Sets MHV Apart?

The Markethive platform enables the users to earn MHV cryptocurrency with everything they do on the platform and are also paid for their loyalty. The Vault is an innovative concept that allows Markethive members to stake their coins, similar to a bank account. The more coins held in your vault the higher the micropayments received, and then there’s the monthly interest paid to you based on the number of coins in your coin clip.

The company issues these micropayments, incentives, and rewards, not just the users, which is commonplace and the only form of payment in other crypto-based platforms. However, Markethive does have a tipping protocol the people can utilize if they wish and substitutes the like button. 

It isn’t only a social media network or inbound marketing platform; it lends itself to the cottage industry concept allowing members to monetize the various initiatives Markethive is developing, starting the Banner Impressions Exchange. It’s also where entrepreneurs can facilitate and promote their personal businesses to a built-in audience as well as a springboard to the far regions of the internet. 

In Markethive’s all-encompassing ecosystem, the objective for the Markethive Coin (MHV) is to be utilized as a form of payment rather than just selling it (pump and dump scenario). This gives a purpose and real use case for MHV, equalizing the velocity, and increasing coin value. 

Bitcoin has established itself as a store of value that affects the value of most other altcoins, albeit positively or negatively at any given time. However, if a coin or project’s use case and utility are credible, it can result in a parabolic shift, increasing in price, without riding on Bitcoin’s coattails. 

The Markethive Blockchain On Cardano Platform

Recently, Markethive decided to migrate to the Cardano Blockchain platform from the Ethereum platform for several reasons explained in the article.   

The Cardano blockchain platform enables Markethive the advanced capabilities to produce the distributed database system that Markethive needs to ensure all data that the extensive user base inherently creates in a social media environment are safely integrated and stored on the blockchain. This includes all forms of content, videos, images, etc.

A mammoth task for a blockchain, and also not conducive for an established social media platform like Facebook with its trillions upon trillions of data already in its system. Markethive conceived and initiated this blockchain protocol from the ground up making it easier to integrate. We just had to wait for the right technology to surface.  

Thanks to technology evolution, the Markethive social market network’s ability to build a massive database management blockchain can only be done on a 3rd generation blockchain platform like Cardano. Fundamentally, the Markethive blockchain will be forked off the Cardano blockchain, with MHV being a native token which is a fungible multi-asset token. 

Native tokens represent value and act as an accounting unit, which can be used for payments and transactions and sent to an exchange address. Native means that these tokens are supported by the Cardano accounting ledger without the need for additional smart contracts, as the ledger features built-in support to track ownership and transfer of more than one type of asset.

The Markethive Coin - A First-Class Citizen

Cardano’s Mary Hard Fork, conducted on March 1st, 2021, saw the introduction of native assets to the Cardano Blockchain. This means MHV can be built into the blockchain ledger the same way Cardano’s native token, ADA, makes MHV a first-class citizen. 

In other words, MHV will receive the full benefits of the Cardano blockchain, such as the same level of safety and security as ADA itself and eventually a governance system as it rolls out.

The first-class citizen approach will mean Cardano’s multi-currency ledger will give much more autonomy to any token(s) made on the blockchain. They won’t be another cookie-cutter token like the ERC-20 token.

This design will make it easier for tokens built on Cardano to be listed on exchanges as they will be able to prove a greater degree of independence than ERC-20 tokens. 

The protocol also allows multiple native assets within the same transaction, unlike Ethereum, where it is only possible to send one ERC-20 token at a time. You will also be able to use native assets to pay transaction fees made possible by the recently announced Babel Fees mechanism currently in development. By contrast, you need ETH to send any ERC-20 tokens on Ethereum.  

Ethereum blockchain issues tokens through a custom coded smart contract, which issues a non-native token. This token won't have all the advantages of Ethereum, and you have to pay for smart contract execution every time you move your token. This is why people complain about Ethereum fees being so high. It's not very efficient, leaving the door open for human error when coding smart contracts.

The low cost in transactional fees and the increased throughput into the thousands make Cardano blockchain a favorite in future generation blockchains. A sustainable, scalable financial operating system is becoming a reality. 

 

MHV Remains The Same As It Ever Was

It’s important to understand that the Markethive coin remains the same and will not affect any current or future operations of the Markethive system. You still keep your MHV coins you are accumulating. It's the blockchain technology behind Markethive that is changing for the better. 

The ILP smart contracts that some entrepreneurs in Markethive have recognized the value of and acquired will work seamlessly in the background on the Markethive blockchain forked off Cardano, all the while the MHV will be used as a medium of exchange and will continually be circulating, earned and accumulated by users within the Markethive economy.

It allows us to be completely decentralized financially with complete autonomy and protection of our intellectual property, ascertaining a viable and comprehensive ecosystem. This bodes exceptionally well for the Markethive ecosystem and will benefit all who participate in it. Essentially the Markethive ecosystem will have its own financial operating system within the new global financial operating system envisioned by Cardano. 

 

Markethive - Staunch And Benevolent Vision

Markethive’s vision is a fully decentralized social network inbound marketing platform integrated and operated on a massively distributed database system, being the internal giant blockchain controlled by a smaller external blockchain Markethive’s Dapp wallet will utilize. 

This is a very advanced technology Markethive is integrating at which no other platform is doing or will attempt to do. It is a vast undertaking and needs to be done right so security is not compromised, on all levels, hence the methodical and time-consuming approach. Markethive is incomparable to any other media platform and although touted it that couldn’t be done, is, in fact, 90% done. 

It’s about looking after the community, the products and projects, the use, and the utility. Getting it right, being clever and evolutionary will pay huge dividends in the mid to long term for everyone in the ecosystem. Markethive is always focused on where we are going and why we are going there in the mission, giving economic sovereignty and identity to all, especially those that don’t have it. 

I know, it’s hard to get your head around and most people don’t comprehend what we have in our midst with Markethive but rest assured this gigantic all-in-one platform current flying under the radar will be a life-changing positive force of how we work, earn and socialize online. 

 

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.

 

Markethive | KYC, WALLET, MHVcoin - Your Questions Answered

As we move closer to one of the most significant milestones of Markethive yet, I would like to touch on a few topics that the more recent members of Markethive may not know or be aware of.  Questions and queries are continuously being asked about subjects relating to KYC, the value of our coin (MHV), and exchanges.  

Below, I explain some critical factors and clear up some misinformation and assumed expectations of a few that may have been misled. 

What Is KYC? (Know Your Customer)

"Know Your Customer" (KYC) refers to detailed and authenticated information required by banks and financial institutions and first introduced in the 1990s. Today it's applied to a wide range of business sectors, especially online businesses.

According to Wikipedia, Know Your Customer (KYC) is the process of a business verifying its clients' identity. KYC policies mandated by regulators globally are becoming progressively essential to prevent identity theft fraud, money laundering, and terrorist financing. 

The process was once a simple one but now becoming an expensive nightmare for organizations and their customers due to compliance costs and the increasingly long time to complete the customer onboarding process.

As more companies begin to intensify their customer identification security policies, technology has provided us with biometrics for KYC management. The use of biometric identification management technology for accurate customer identity verification has proven to deliver efficiency and convenience for organizations and comply with government regulations to prevent identity theft and money laundering. 

Biometrics use intrinsic data, allowing for immutable identification and verification of people, and is fast and straightforward. Like face recognition and fingerprints, this inherent data is the way to go when accessing wallet apps on smartphones. 

The Genesis Of MHV Revisited 

Let's revisit for a moment a little bit of the history with the Markethive Coin. Established in 2018 with the micropayments faucet system released in January 2019 into the Markethive system. In March 2019, Markethive took the next step and listed MHV onto its first exchange, Raisex.io, and was subsequently listed on coinranking.com, a cryptocurrency information site. 

However, it wasn't long after the raisex exchange collapsed, but MHV is still listed on the Coinranking info site. Coinranking insists on keeping MHV recorded while Markethive moves forward to establish MHV on more high profile coin exchanges. Coinranking will then show MHV as listed on these alternate exchanges, and the actual value of MHV coin will be realized.

The Value Of MHV

Right now, MHV's price is coinciding and fluctuating with the price of Bitcoin and, as explained above, is a failed report of a dead exchange, so for the benefit of the newer members, it's currently not listed on a live exchange to date. The value of MHV can not be officially determined until our wallet is released and the exchanges we will be listed on have achieved equilibrium. In other words, demand and supply are considered to be in a steady-state.
 
Currently, MHV can only be utilized internally with the Banner Impressions Exchange (BIX), whereby you can purchase impressions with MHV. Or if a Markethive Associate offers a product or service accepting MHV as payment. There will be many services and products (such as The Blast, to be released soon) that you will be able to purchase with MHV and only with MHV, including ILPs. It's what an ecosystem is all about. 

When the Markethive multi-purpose wallet is rolled out, along with the exchanges, Markethive will be listing its coin on (to be announced) will mean you can buy and sell MHV, thereby creating equilibrium and value in a free and open market. 

What Are You Waiting For?

Every savvy online entrepreneur knows that when it comes to technology, setting a deadline or an actual date for the release can be misleading and is difficult due to its complex nature; however, we can project a timeline. The Markethive Wallet and exchanges are on the table, ready for release when the timing is right, as there are numerous facets to consider. 

Instead of waiting to join Markethive until the wallet is released or proven, join now and be ready. A growing number of social media users and marketers are fed up with the likes of mainstream social media with their dubious agendas and the tyranny it continues to dish out. Also, paying way too much for access to expensive SaaS marketing platforms. 

All should embrace Markethive and accumulate as many MHV as possible before its debut on the worldwide free market. It's close and will be an opportunity for long-term prosperity, so you won't want to miss out. 

First, receive the MHV coin airdrop for just joining Markethive. Next, refer three people to activate your micropayments and earn MHV for every activity you perform on the Markethive platform after that. 

That's a great start; then, by taking the time to learn how the blockchain-driven social media and inbound marketing market network works, you will be busy, having fun in the collaborative, free-thinking environment while earning income! 

Instead of giving away your content and hard work to the social media platforms that make money off you, why not have the platform pay you? That's what you get from Markethive, along with all the tools you need to build your business and acquire a brand presence. 

The author of this article, Facebook Is Dead (It Just Doesn't Know It Yet) just about sums up the current state of mainstream social media and opines in no uncertain terms the way he feels. Jared A. Brock is on the right path when it comes to new opportunities and next-gen platforms. He's just not aware of Markethive yet, but he will be. 

 

 A Visionary's Life's Work With A Mission At Markethive

CE0 & Founder of Markethive, Thomas Prendergast, a passionate Entrepreneur by nature, declared,

 "I'm put on this earth 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 of Social Media and Market Networks." 

 Mr. Prendergast added,

"I am fully committed to building the members of Markethive into huge success stories. This is my way of helping make this world a little bit brighter and helping the struggling entrepreneur to have a lot more advantages to reach their goals".

 
The Release Of The Wallet Will Be In Stages

The wallet will be released in four phases: (The first phase is projected to roll out sometime this month.)

Phase 1: The Entrepreneur One associates will have access to their wallets with no limits on transactions or the number of MHV coins per day.    

Phase 2: The Apprentice Membership associates wallets, limited transactions - to be advised 

Phase 3: Activated free members wallets, limited transactions - 1 MHV coin per day

Phase 4: Entry-level free members wallets, limited transactions - 0.1 MHV coin per day. 

All members will be required to submit and be approved via a KYC process (Know Your Customer.) For free members, that will incur a cost of US$20. 

The above schedule is subject to change and is required to protect Markethive and its coin from shills and pump and dump scenarios. 

Markethive is an ecosystem for entrepreneurs, not a pump and dump, like so many speculative coins on the market, with numerous failing miserably due to the lack of protocol and integrity. 

 

The Apprentice Program And The Unleashing Of Markethive

The Apprentice Program is just about there, ready to be integrated into the Markethive system, which means free members can go to the next level at a minimal cost and have access to more services and be ready for the Phase 2 wallet release. 

The Apprentice membership is for the masses, aspiring entrepreneurs, and marketers looking to earn an income in a meritocratic and sovereign environment. 
 
Markethive's multidimensional wallet is a POS wallet, a Mining Wallet (through MH faucet systems and Bounty Program), a private KYC/AML authentication provider, and a secured messaging system - ALL IN ONE.
This multidimensional wallet will not only preserve, protect and grow your coins through a Proof of Stake function, but it will also provide you 100% control of your private KYC/AML (Know Your Customer/ Anti-Money Laundering) information. It is also a secure messaging portal. 

This multi-functional wallet is part of Markethive's proprietary Intellectual Property. 

Within the local and app-based wallet, you will store MHV coins and other top coins like BTC, ETH, etc. You will also be able to upload your KYC documents into your device and only release a READ ONLY view of them at authentication time, with your approval; 100% under your control. 

Markethive will never store your private information; an authentication code will be held in Markethive's Blockchain. The secure messaging portal will also be integrated into Markethive's cloud ecosystem and take full advantage of the groups and folder technology.

 
 
Culture Of Integrity

What we are building here in Markethive is a culture of integrity, eliminating duplicate or fake accounts and hackers. Furthermore, as Markethive is built on the Blockchain it's not centralized information. 

Once the system has verified you, your information is placed in your wallet, and only you receive the Key to that wallet. It belongs to you, and no one else has access to your information or MHV coins you accumulate by using the platform, including Markethive - the company.  

When Markethive implements the wallets, the KYC protocol will be mandatory for every member. In the past, for any company, it was commonplace for us to scan and upload a utility bill, passport, or drivers' license when asked for verification. Organizations in the online world now require a much more verifiable course of action.

A photo with you holding your drivers' license or some form of identity card and a signed piece of paper with Markethive with the date written on it next to your face is a foolproof way to authenticate. It will secure your identity, account, and any transactions you administer within the Markethive system. 

A video stating who you are may be implemented and will be another level to the whole KYC process, ensuring your peace of mind and Markethive. 

 
Conclusion

Implementing live and recorded video calls while scanning and comparing photo ID (govt identity cards, passport, utility bill, and bank statements) between you and Markethive adds a verification level. When combined with the SMS code and Social Networked OAUTH that was executed when first registering to the Markethive Network, delivers a real person, not a clone or a fake sock puppet. 

This more in-depth KYC protocol is a step up from web 2.0. It is the next generation where privacy, security, and autonomy are of the utmost priority, with Markethive leading the way on its mission to deliver a Social Market Network of the highest integrity. 

There's still time to upgrade to Entrepreneur One and be privy to the complete Markethive system that can be described as a cottage industry with money machines that champions everything else out there. You will be one of Markethive's early adopters and have a rare opportunity to cement your future of self-sovereignty. 

Come with us as we make our way through the final stages of BETA, building the foundation and on the road to realizing the full potential of Markethive and you. 

 

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.