How will the end of net neutrality impact crypto? 🚫
In my humble opinion...
money and the internet itself is about to change, a lot.
Money being controlled and managed by the government will, some day, appear as arbitrary and distasteful as religion or speech being similarly handled. #Bitcoin
— Erik Voorhees (@ErikVoorhees) December 15, 2017
Coin of the Day
The future of car ownership
(CRYPTO: CRX) The automotive sector today is valued at 1 trillion USD. This massive industry, however, has several problems. For instance, buyers and renters in the secondary vehicle market have no choice but to rely on car dealers for information pertaining to the vehicles. Car dealers could easily tamper with the odometers of the vehicles to reduce the mileage clocked or withhold any undesirable information about the vehicles, such as any damage sustained from past accidents. Carblox offers a simple solution to these issues by recording the authenticity and the history of the car on the blockchain, essentially creating a digitalized, secure and transparent replica of the car on its platform. With Carblox, prospective owners of cars are no longer have to worry about dishonest car dealers.
What is this whole "net neutrality" thing, and what does that mean for cryptocurrency?
ICYMI, the Federal Communications Commission (FCC) voted to end Net Neutrality: the rule that stops internet service providers (ISPs) from slowing down, speeding up, or blocking specific pages online, thus reducing favoritism and preventing internet companies from charging more for a basic level of service. Companies like AT&T, Comcast, and Verizon can now slow down competitors' web pages, block specific content that goes against their corporation's agenda, and force online companies to pay more to have their web pages load faster.
ISPs can now potentially control access to specific crypto exchanges, transaction speeds, prioritize specific wallets, and a whole lot more. In 2011, Verizon even went so far as to block access to Google Wallet (a wireless payment system based on your phone) largely because they had invested in a competing mobile payments application. It was really messy. Telecommunication companies have invested over $5 million in blockchain tech in 2016, and it's very likely that number has multiplied by a factor of ten. With the rise of mainstream crypto, we're looking at a bit of an upward battle for online democracy once again in the United States. We're interested to see what kind of loopholes, if any, will be developed for a modified version of net neutrality.
International crypto traders are full steam ahead, even if their governments aren't (and we're talking about countries where Bitcoin is cause for imprisonment).
Whether it's because of FOMO, survival, or distaste for government control/centralized money, people from all over the world are fully immersed and supportive of the crypto world. The only issue is that many governments are less than enthusiastic about it. If anything, it's a testament to crypto's popularity and incredible use cases – even if established academics don't fully get it. (We're looking at you, Nobel Prize-winning economist Joseph Stiglitz).
- Russia Cheap electricity + developed infrastructure + lots of open land = mining paradise; something the Russian government is quite aware of. The parliament is currently drafting a bill that would seriously restrict mining farms, payments, and token sales. While the proposed "CryptoRuble" project is rolling along (as far as we know), Russia sees the appeal in being able to bypass Western sanctions...yikes.
- Venezuela It's currently illegal to mine any kind of cryptocurrency without registering with the government, and police are taking to tracking exorbitant electricity use in households to pinpoint the people running their mining programs/machines. All economic classes are involved in cryptocurrency, with wealthy Venezuelans treating it as an investment strategy while the lower class has been using Ethereum and Bitcoin to buy products that could save their lives, like medicine, food, and water.
- South Korea The Asian giant has been all over the place regarding regulation, first banning ICOs then overturning the rule a few months later. South Korea's looking to delineate crypto trading regulation, and there are now six conditions that exchanges must follow in order to operate within the country. Oh, and minors (under 18) and non-Korean citizens will not be able to open an account on a domestic exchange.
The strong argument for "cold storage," AKA storing your crypto on an offline device like a hardware wallet or air-gapped computer.
What is this "arbitrage" that we keep hearing about, and what does it have to do with Bitcoin futures? Watch this video and learn how people are sorting BTC.
"Forking fever" continues, and an upcoming BTC fork called United Bitcoin has a powerhouse team behind it, and is looking to introduce some pretty valid updates.
Coin to Watch
Looks like Cardano (ADA) is having a second wind, no doubt helped a bit by being included on MarketWatch's "7 Cryptocurrencies to Watch in 2018 if you're on the hunt for the next bitcoin."
When you tell your grandma she's up 10x in 6 months. pic.twitter.com/L5zlYEAnGq
— Crypta de' Medici (@cryptodemedici) December 15, 2017