Cryptocurrency Acronyms: HODL, FOMO, FUD, BTFD and so on

If you listen to many YouTube or Facebook videos on BitCoin, LiteCoin, Ethereum, and the other alt coins, you will have to know these acronyms.

  1. HODL – Hold On for Dear Life – This is a style of investing where you believe that long term the coin will go up in value, but it could take a while. Crypto’s are known to be quite volatile, so you have to ride it like a roller coaster, accepting the lows with the highs.
  2. FOMO – Fear of Missing Out – This could apply to people who aren’t in crypto at all, or to people who don’t have a coin, and buy it when it is high, because they fear missing out a “moon shot” or meteoric/exponential rise. This often leads people to buy at the top of a market cycle and potentially lose on their investment.
  3. FUD – Fear Uncertainty and Doubt- this could include news that makes the cryptos go down in value (such as today, when Warren Buffet said he would never invest in BitCoin or any of other crypto). It can also be used dissuade people from using Bitcoin and instead only use government-authorized money (like dollars), or can be gossip aimed at lowering the value of any coin or companies perceived value.
  4. BTFD – Buy the Freaking Dip (this is the PG-13 version, substitute the third word as desired). If you are going to invest in any coin or token, instead of buying at an all time high, often the price will retrace and go down a little (thus called “the dip”). You can get more coins and thus make more profit if you buy on the dip before it goes up again.

Just like the stock market has ticker symbols, most coins have a similar abbreviation; but there is no standard governing body that sets the abbreviation. So for example BitCoin is often referenced to as BTC, LiteCoin as LTC, and Ethereum as ETH. In some cases, the names can be confusing, such as Cardano, who’s coin/symbol is ADA (both are named after historical figures).

Mining Cryptocurrencies using SEO and Human Activities and Gatherings

January 10, 2018

What the heck? How can Search Engine Optimization (SEO) and human activities or people gathering together mine cryptocurrencies?

There is a new system being put together. I can’t disclose all the details yet.

My mentor is putting together a group called Project Platinum, limited to 100 people. We will be building web pages (and perhaps videos and doing social media) related to various activities, similar to what you might see on MeetUp.com. A large majority of them are family-oriented, fun activities that people are doing already.

This mentor, Matt Trainer, recently made a list of predictions about the future of the internet. We live in a disruptive world, where new technologies rise up over night and kick out the former beast. He says that the normalcy bias is “off the charts,” and things are about to change in a major way. He thinks Google’s time as a search engine is limited. And now, it’s possible for people like you and me to be part of the disruptors. Who would have ever though that Blockbuster Video or Borders Books would be wiped out so soon on the timeline of history. So here are the predictions for the next ten years:

10 years. Max. These are all dead:

1) WordPress (already on its last legs and no one sees it), and it’s entire plugin ecosystem

2) Any and all online shopping carts and shopping cart businesses. Yep ALL shopping carts. “Oh no! What’s Amazon gonna do with all that infrastructure!?” Trust me, they’ve planned ahead and are ready to pull the trigger on the next wave.

3) Websites (they are soon to be nothing more than business cards); thus the entire web design and development as industry will be a thing of the past. Along with it HTML5 is another goner;It was all a farce from the beginning anyway just because of a childish feud between Apple and Adobe.

4) Email autoresponders and ALL email service providers. Regulation killed it and spammers made it not cool anymore. Email is a burden now instead of a cool way to get fast messages.Even SMS marketing of any kind will be totally gone.

5) Credit card merchant processing via gateways (cryptocurrencies will take the place, fees will go down)

6)Video sales letters! Yep, I said it and I can back it up

7) Internet marketing launches

8) Native Ad networks, no one really wants to see any of that crap. It’s ruined the web surfing experience.

9) Webinars of any kind (notice how hard it is now to get people to attend compared to just 3-4 years ago? There’s a blatant reason why…)

10) TWITTER. Dead.

11) and one last boom, all website creation tools and ALL landing page and funnel builders and services. All of them. DEAD I don’t care how big. They are ALL missing the next shift.

I could go on. The list is very long because the Internet has matured enough that people have developed a sense of normal. This is technology. The personal computer was our first love. The mobile phone is the rebound girlfriend. The coming future tech is the wife.

Above is what Matt said. But he is a crazy guy? Well, this is what Clif High, who has been called one of the smartest men in the world said in a recent video interview:

Google and Facebook may not exist in a few years… as they are steeling from advertisers.

However, we will max these resources now before the world knows about this opportunity, and we will use some high end automated SEO (search engine optimization) tools so people find our pages and get involved. The process will also involve gamification (see related article).

Here’s the best part. Matt already have solutions ready to go for all of the above. The lucky 100 will be attending a one day boot camp training/work day in San Diego on January 20, then work hard until April when the business is launches to US/Canada (and will spread to the entire world after that).

Time is critical to get involved – call me (Neal Walters) at 214-455-8060 (9am to 7pm Central Time USA) if you want to know more.

 

Enriching Learning Environments With the Game Gamification and Cryptocurrencies

Games are an ancient invention. Although their date of origin is unknown, five years ago archaeologists unearthed some 5,000-year old gaming tokens during an excavation in Turkey. You may have heard a recent buzz about a newly coined term with a related theory and tactics, referred to as gamification. It is a method used for taking existing ideas, knowledge, or actions, and integrating them with game mechanics to engage people in gameplay with nongaming contexts. The gamified technique can encourage behavioral changes, such as loyalty or participation, among other things.

There is one application of the method that is gaining popularity with businesses and schools. It is gamifying learning, whether it be for employee onboarding, professional skill improvement, or turning in a homework assignment on time. By gamifying instructional environments, the desired results and learner experiences are worth more with learning made into a game.

What Are the Mechanics of Gamification?

Game mechanics or building blocks of the game, make up essential parts of the game theory. These raw materials are elementary to gamified learning. Game designers efficiently and artfully construct the game with these elements so the players can enjoy the game better when achieving wanted goals and needed results. Below are a few of the building blocks commonly used to gamify the nongaming:

  • Points are single count units of measurements.

  • Badges add positive reinforcement and players earn them after collecting some points.

  • Leaderboards can incorporate the two mechanics above by displaying players in either a descending or climbing order, based on levels and achievements.

  • Challenge is purposeful in motivating players to act and work toward something more significant and great.

  • Constraints, like a deadline, is a game mechanic aimed to encourage self-motivation.

  • Narrative brings players deep inside the story of the game.

Who Are The Players?

It is good for game designers to know the way in which the players approach gameplay. British professor and game researcher, Richard Bartle, created an analysis of player types and the Bartle Test of Psychology. He divides the way people play games into separate categories. Although distinctive from one another, the four different personality types are not rigid. Most of the players have traits assigned to more than one group, but mostly everyone has one characteristic that dominates, thus controlling his or her overall playing approach.

  • Achievers: They care only about ranking, status, and measurable units of achievement. Achievers are quick to tell their peers about their progress and prominently display their collection of earned badges.

  • Explorers: They feel that discovering something new or unveiling secrets of the game is the real prize and not badges.

  • Socializers: They make up the vast majority of players and represent the way about 80 percent of people play games. Socializers enjoy interacting with other players during the game and do not mind joining forces and collaborating if it accomplishes more than playing alone.

  • The Killer: They are like the Achievers, in that they concern themselves with winning and getting as many game credits as possible. However, the thrill for Killers is in seeing other players lose, which is another level of competitiveness.

How is Gamified Learning Different from Game-Based Learning?

Gamification is a concept in which games inspire learning and a nongaming setup, whereas, training that is game-based uses games for the enhancement of study. It is a subtle difference. However, the distinction is that the former uses game mechanics, such as badges, achievements, and awards as a substitute for grades in some cases, and the latter may make use of digital or nondigital games and possible simulations for the students to learn.

Benefits of Gamifying a Learning Environment

Whether in a classroom or office, to gamify an instructional experience can provide advantages that traditional education methods may also do but differently. Some benefits may include but are not limited to the following:

  • Optimization of the brain’s processing and capacity to retain new information.

  • Improved engagement and motivation.

  • Adjustment of the cognitive pleasure and reward center for heightened learning.

  • Strengthened recall and other soft skills.

  • Facilitates better learner engagement.

  • Fosters positive behavior changes.

Examples of a gamified classroom setting, whether it be at the workplace or school, could include the following:

  • Grading backward, starting from zero instead of 100. Credits are added with each submitted assignment or a demonstration of understanding in a particular area, for example, until 100 gets reached. When that happens, the players get badges and have ascension on a leaderboard.

  • Players can use role-play, similar to a video game. It adds learning perspective by having viewpoints from different people with a different relation to a problem when learning a concept. It will also add to the game mechanic, narrative.

Alternatively, the following are examples of ways to gamify an eLearning platform:

  • Players create avatars and go through different simulation challenges which map to specific qualities needed to receive a reward. The scores after each task build up, so the player earns the bonus. High scorers display on a leaderboard.

  • Like above, for this example, players will use avatars. They journey along different learner paths. They must answer a series of questions for various named real-life challenges. The more skillful a player becomes on his or her track, the fewer lifelines or learning aids are accessible, and the more immersive the learning experience becomes for the player.

Gamification may still be fairly new, but different industries are benefiting from its application in online communities, customer relations, and education among other uses. Researchers are steadily conducting studies to see how gamifying influences people’s social behavior, thought processing, loyalty, engagement, and learning. The creative and proper use of game mechanics motivates people to learn more, and it adds value to desirable outcomes of nongaming situations.

Another aspect of gamification involves using cryptocurrencies to reward the learner (customer) for taking micro-actions. For example, if the player/learner finishes 3 lessons per week, they could earn some crypto-token. This could be a rebate on their sales price, or could possible be exchanged for other goods or services

Amazon Coins – Perhaps a predecessor to Amazon’s First Cryptocurrency?

I was looking at the possibility of dumping my cable provider and using only Amazon apps, or YouTube’s new TV service.

What is the difference between HBO-GO and HBO-Now?

I noticed that Amazon has two HBOs apps, HBO Now and HBO Go. HBO Now allows is free to install, but requires you to approve the in-app purchase of the unlimited version for $14.99/month. HBO Go is for user who are already HBO subscribers (such as via their cable company), and wish to watch HBO on their smart TV. HBO Go is also available outside of an amazon as a website, for travelers who want to watch HBO on their laptops or phones.

Yes, Amazon Prime members can buy an HBO channel subscription for $14.99/month. The HBO channel on Amazon Channels gives you unlimited, on-demand access to HBOs current and past programming (the same great content available through HBO GOand HBO NOW).

My first assumption was that one of these apps would have in-app purchases, that would allow you to watch in a pay-per-view mode, but I was wrong.

When I was researching in-app purchases, I discovered that some apps allow you to pay for these with “Amazon Coins” which I found below. When you buy them in lots of 50,000, you save 25%, and there are various discounts for the smaller purchases down to 1% for the smallest purchase of 300.

 

 

So like a cryptocurrency, you can transfer coins to a friend (or perhaps to even pay for something that friend gives you). They don’t have mining of course, but they do say you can earn Amazon Coins when you buy certain eliglbe apps, games and in-app items through the Amazon Appstore.

Amazon Coins work with the Fire-TV and Android, sorry iPhone users.

 

 

 

Book Review of “Ready Player One”

The Steven Spielberg movie will be release in theaters March 30, 2018. Meanwhile, I would like to recommend the book.

Today’s world is starting to look more and more like science fiction, so it should come as no surprise that more readers than ever are getting into the genre for the first time. Whether readers are avid sci-fi fans or first-time explorers of the realm of science fiction and fantasy, they can’t afford to miss Ernest Cline’s recent work. Check out this brief Review of “Ready Player One” to discover whether it sounds like a good fit.

What’s it About?

Taking place in a dystopian version of the near future, Ready Player One is about a teenage boy who only feels truly alive when he’s plugged into the novel’s virtual reality utopia, known in the book as OASIS. Wade Watts becomes fascinated with the puzzles hidden between the layers of this digital world. As he stumbles upon his first real clue, he finds himself surrounded by players in an insidious game that forces him to confront the real world in order to learn how to survive it.

The Real World

In the real world, Wade is so quick to abandon the teenager’s family lives in a large block of unpleasant stacked mobile homes, dividing his time between school and the abandoned van he uses to plug in and adopt his online persona. As he becomes more obsessed in the online world, readers begin to see his real-life persona slumped over his desk sleeping, risking access to his virtual reality visor, which will be taken away if he flunks out.

The Virtual Wort

In OASIS, Wade Watts transforms himself into an alter-ego known as Parzival. In the virtual world, he becomes more and more obsessed with the game, called Anorak’s Invitation, which is chock full of references to 1980s trivia. In fact, the very name of the novel hearkens back to the phrase that signaled the beginning of arcade games designed in that era.

Understanding the Game

Readers who are hooked by the author’s premise but don’t have the background knowledge to understand his many references will likely have to begin looking things up as soon as the plucky hero begins to uncover clues. To begin with, it’s important to note that many games from the era incorporated secret features, known as Easter eggs. In the novel, the game’s creator, Halliday, has incorporated Easter eggs into his own game as secret clues designed to lead the novel’s protagonist on an exciting adventure through the virtual world.

The Egg Hunters

Wade isn’t the only player who has become obsessed with unlocking the puzzle behind OASIS. In Cline’s dystopian future, prospects have already grown quite grim on the resource-depleted earth, so it’s no surprise that so many players have chosen to devote the majority of their lives to the virtual world Halliday has created. Those who are playing the game within a game are known as gunters, and they will stop at nothing in their hunt for Halliday’s Easter eggs.

The Other Players

Wade becomes virtual friends with four other players in an attempt to quicken his progress in the game. These players, known collectively as the High Five, throw around 80’s-vintage movie quips and obscure references like nothing and begin to bond over their hunt for Halliday’s eggs.

The End Game

As Wade struggles to make progress toward his goal of winning the untold billions that are promised by the game’s creator it becomes clear that this virtual contest is taking its toll back in the real world. When players begin to die in the real world, Wade must decide whether he can trust his new-found virtual friends, or anyone else, for that matter, with helping him in his quest toward this ultimate prize.

Worth the Read?

Complete with sly references and inside jokes that will appeal primarily to gamers and 1980’s trivia buffs, Ready Player One is still accessible enough to engage a wide range of readers. This smart, funny thriller functions as both a celebration and a critique of modern online culture, and the author’s well-developed sense of suspense keeps the narrative moving quickly along. With its intriguing puzzles, intense action, and a remarkably engaging payoff at the end, Ready Player One is worth the read even for those who might need to pause periodically to check Cline’s many obscure references.

Movie Trailer

 

The Future of Virtual Reality and Cryptocurrencies

Both virtual reality and cryptocurrencies have been gaining popularity in recent years, and show signs of being the next big thing in the future of the entertainment industry. While both of these technologies have been around for some years, it is only recently that virtual reality prices have begun to drop and cryptocurrencies have begun to catch on as a viable form of exchange. Chances are, as these technologies become common household names, people will begin to spend larger portions of their lives in virtual reality and those who spend some time trying to imagine what that will look like stand to profit a good deal as these changes occur.

Cryptocurrencies and MetaMask

It’s important to note that this article really isn’t describing some kind of utopian distant future; in reality, virtual and augmented reality is already here and it requires new ways of thinking about both currency and the world in general. For example, a Google Chrome extension known as MetaMask is already available and is quickly catching on. MetaMask works sort of like an online wallet interface, allowing browsers to display their current monetary standing on their screen while they browse to help them make responsible online shopping choices.

This may not sound like futuristic innovation, but it is one important step toward the adoption of cryptocurrency as a viable means of performing online transactions, which is already paving the way for the use of this technology as virtual reality develops further. It’s not the only example of cryptocurrency being used in virtual reality’s infancy, though.

VibeHub Marketplace

VibeHub is an online marketplace that allows users to buy and sell virtual reality sessions using cryptocurrency. This represents an incredible step in the direction of a comprehensive change in how users think about virtual reality and social communication alike, as it allows users to experience things like meet and greets with their favorite artists, live music concerts, or even learning new skills from the comfort of their homes using virtual reality technologies. Like virtual reality more generally, this platform is still in its infancy and the potential for future development is almost limitless.

VibeHub and Cryptocurrency

VibeHub uses its own currency based on the block-chain technologies behind other cryptocurrencies such as Bitcoin to enable virtual trading in real-time. This web platform is compatible with MetaMask and Myst, allowing those who are unfamiliar with cryptocurrencies to access VibeHub as well. However, as public confidence in cryptocurrency continues to rise, eventually, the forms of currency that are currently most commonly in use could easily become antiquated and unnecessary.

The Future of Virtual Reality

As the world’s populations continue to skyrocket while its resources become simultaneously depleted, it is hard to imagine everyone in the world having access to all of the physical things that they desire. However, virtual reality might someday offer a virtual alternative in which users are able to have the virtual houses, cars, pets, and material possessions of their dreams with no need to continue consuming valuable natural resources to have and maintain them. Of course, this is only one potential future for those technologies currently being developed, but it is admittedly an appealing one.

The Winding Road Toward Progress

It would be a mistake to believe that these two examples of virtual reality backed by cryptocurrencies represent any kind of end-point for either of these technologies. In fact, both block-chain technologies and virtual reality are still in their infancy, and chances are the road to progress will be long and winding. There are a wide variety of possible outcomes for these technological innovations, but with any luck, the end result will be a fully-integrated virtual reality that is decentralized and accessible to all.

Dec 22, 2017 – May be known as the Black Friday of the Crypto World

December 22, 2017

Almost every one of the top 100 crypto currencies are down 35-40% this morning, Friday, December 22, 2017. This day may well be known as the “Black Friday” of the cryptocurrency world.

Waiting for more news to be released as to the reason that precipitated this huge fall.

The general idea is that most cryptos would rise after Christmas when many people share the news of their profits with their relatives. We are about to enter the sharp geometric increase of the “S” curve, where early adopters are in, and the masses (or “herds”) start to buy in. Maybe this price drop will motivate them to get in now and drive the prices up even more after Christmas.

Below is a screen shot from http://CoinMarketCap.com. Of the top 100, all are currently down except Kin and Agoras Tokens. Earlier today ETN (Electronem) was up a little, but it has dropped. For whatever reason, a lot of coins follow up the trend of the BitCoin, the original and “gold” standard of all the cryptos.

Last week CoinBase added “BitCoin Cash” which was a created when BitCoin hard-forked due to lack of consensus. Many believe that there will be a fight or race to see which will be “The BitCoin” adopted by the masses. Many are complaining that the original BitCoin is too slow and the fees are getting to high.

For real crypto fanboys, the best advice when this happens is to HODL – Hold On for Dear Life. Don’t sell, don’t panic. Cryptos all come back higher after each dip!

A second similar crash happened on January 16, 2018.

 

Difference between a “coin” and a “token”

December 18, 2017

In the video below, George Levy, Blockchain Institute of Technology, explains the difference between a cryptocurrency coin and token.

Some define a coin as something that is used strictly as a means of electronic payment, and a token is anything else,. But George focuses on how the coins are defined in their evaluation. He opens the famous site: http://CoinMarketCap.com, and there there are tabs at the top labled “All”, “Coins”, and “Tokens”.

In George’s definition, a coin is a cryptocurrency which operates independently of any other platform. In other words, it has it’s own blockchain. Examples are BitCoin, BitCoin Cash, and Ethereum.

A token requires another blockchain (or “platform”) to run or host it. So for example, OmiseGO is built entirely on the Ethereum blockchain. Other examples of tokens that run on Ethereum are Augur and Golem. Other platforms include: NEO, Omni, Nxt, and Waves.

What he doesn’t mention is that Ethereum has a standard called an ERC-20 token, which you can learn more about here.

 

Review of BitCoinIRA and BitIRA – for moving my IRA to BitCoin

December 14, 2017

I thought this process was going to be an easy “no-brainer”. But after a call from their support, or perhaps better dubbed sales person, I learned about the hidden fees and “the rules”.

I started by filling out form onBitCoinIRA.com.One of their options was an “investment mix” where you theoretically split up your investment among the six coins they support: 1) BitCoin, 2) Ethereum, 3) Ripple, 4) LiteCoin, 5) BitCoin Cash, and 6) Ether Classic. But later, as you will see below, I learned this wouldn’t work.

This included downloading a PDF, having to sign it, then upload it. It was called a “Account Transfer”. I actually called them first, to ask a question about the beneficiary. The guy I spoke to was very American, very professional, and almost no wait time. I was trying to figure out if I could make my own estate the beneficiary, instead of a specific person or persons. He checked, and said if it was a trust, but I don’t have a formal trust yet. After I got my question answered about the beneficiary, I got the data for my beneficiary (SSN and date of birth) and completed the form.

After all that hassle and sending them the first form, THEN he called back to explain their fees and limits.

  1. There is a 15% origination fee 9,
  2. 1% fee when you liquidate/cashout,
  3. 5% trading fee,
  4. Custodial fees of $20/month and 0.07% of your balance from the custodian, which is Kingdom Trading.
  5. And a big kicker, there is a minimum of $10,000 in any one coin. He said this is because they use GenesisTrading.com. This totally blew my investment mix based on the amount of the IRA I would be transferring.

NOTE: When you submit and sign their PDF document, that doesn’t really kick off the process. They send you another form, which I think he called a “Transfer Document”. I’m not sure how it’s different than the one I already signed. But they give you a chance to absorb their fee structure, then tell them if you wish to continue or not.

A follow up question I will ask is about early withdrawals. Sounds like I would always have to keep a minimum of $10,000 with them.

So then, I decided to check out their competition. The first one I had already seen wasBitIra.com,. Minutes after filling out the form on their site, their rep called me. He was also very professional and helpful. They have a similar 15% origination fee, said custodian fee is about $300/year (pegged at entry amount), and they use Preferred Trust. I think there is one other competitor. The kicker there was they wanted a minimum of $20,000; and he checked if they could go lower, and the answer was yes, but I would have to pay the 15% fee instead of having it come out of my IRA.

I’ll keep you posted as I learn more and make my decision. The alternative is to cash out, pay the IRS penalty, and have more freedom with the money. Later the same day, that’s exactly what I did. I figured if I’m going to have pay another company a 15% origination fee, and high trading fees, and not have control over how I allocate my tokens, it’s better to pay the IRS penalty and have the freedom.

 

BitCoin Ben – Predictions for LiteCoin (LTC) in 2018

December 11, 2017

I started watching BitCoin Ben (your friendly truck driver) on Facebook each day. He now does one daily video cast regarding BitCoin, LiteCoin, and all things crypto. Although he has done some videos from home, he lately does it from the cab of his truck while waiting on other to fill the truck with whatever it is he has to haul. He’s a very friendly and funny guy; but his language is not always family friendly.

He’s really been pushing LiteCoin the last few weeks. In this morning’s video, he says his “inside sources” tell him that LiteCoin will go to $350 to $450 by year end (about 20 days away), and that by April of 2018 it will be $3,600. In a previous video, he said that LiteCoin is going to do what BitCoin did in about 18 months. So this implies he thinks it LiteCoin maybe around $10,000 to $15,000 by mid-2019.

He and other, such as Charlie Lee, MIT graduate, former software architect at Coinbase, and creator of LiteCoin classify BitCoin as a store of money, and LiteCoin as a currency used to buy things. LiteCoin has faster transaction times than BitCoin. Charlie has provided a rough analogy, comparing BitCoin to gold, and LiteCoin to silver.

Based on his videos, I traded some my BitShares to LiteCoin today. I’m also in the process of setting up a BitCoin IRA account. I placed sell orders for my gold eagles and silver eagles today. Even though Clif High predicts silver will go up, I see BitCoin and LiteCoin are going up now, so now is the time to act.

 

1 2 3