Guns N Crypto? Off the Chain!

Guns N Crypto? Off the Chain!

Cryptocation recently had the opportunity to sponsor the first ever “Off the Chain” convention. Put on by the project “TUSC”, the small gathering of crypto enthusiasts in Sandy, Utah addressed pain points, new uses for blockchain, as well as gratitude to see excitement in its local crypto community.

TUSC, kicked things off to introduce themselves. They explained how the conference came to be and broke down how they kicked off their blockchain. TUSC is a utility token, its target niche currently is the gun industry. With their token, Founders Robert McNealy and Kristy McNealy, set out with a goal to help solve some of the woes of purchasing a firearm. Many traditional purchasing platforms have shied away from the firearm market, leaving those who participate in its market at a loss. The TUSC, or “The Unverisal Settlement Coin” hopes to open the door to a non-bias median of exchange for adopters. It is good to note while TUSC does cater to the firearm market they are not going to stop there. They hope to grow into all markets to help give users a quick, reliable, as well as safe environment to exchange and settle transactions.

With an interesting mix of booths covering guns & survival kits to crypto education, breakout sessions offered insight into some of the hot topics in Crypto. Crypto security, both digital AND physical, blockchain based identity protocols, and education where some of the topics covered by other panels throughout the day.

With securing and storing your assets, a crypto-exchange Coinbook, discussed safe practices and services they provide to help store Private keys and funds. They also covered ways to avoid some of the pitfalls we have seen with other various exchanges. Fortknox vaults discussed on-site options for storing hardware wallets and other valuables in a safe box, while Safe Haven Private Vaults provided an off-site option that also stressed user privacy.

The topics of Identity on the blockchain was covered by a three person panel. Jonas Otsuji, a sushi chef, Surivor contestant, and Director of Business Development for Neuyrx ; Sam Smith who is involved with the ConsenSys and Sovrin projects, also an expert in machine learning; and Jeff Krane, who closed out the panel, as the co-founder in the Identity application Glyph ID. All three discussed the pain points and utility behind blockchain Identity. The scenario used was getting into a bar. When you are looking to buy alcohol they ask for your ID. The only information they need is to verify if you are over the age of 21. Your ID contains much more than that, and every time it is shown they get your height, exact age, weight, hair color etc. Glyph and Sovirn offer a service that will contain your info, and only give out the information needed for that exact transaction. So instead of a bar getting everything on your ID, they would only get the information that verifies you are above the age of 21. Usually when information like that is shared, there can be 3 to 4 companies profiting from that transaction of info. The goal is to eventually create an environment where interested parties must now pay YOU for that info, rather than a third party using it to collect a profit themselves. The goal in mind would be to give you back ownership of your digital presence.

This was from only the first half of day one in a 2 day convention, there are many great and exciting developments coming from the blockchain and crypto community. Local Utah residents should look to attend the convention next year, and those curious about blockchain stand to gain a lot from the breakout sessions. Crypto is creeping into your daily life, and some may have used a blockchain based service without realization. Its time to start learning and understanding this new platform!

About Us

About Us

Notorious B.T.C.

From $1 = 1,309.03 BTC to $19,000+ all the way Back Down

Since this is our first post, we are going to start with what started it all, Bitcoin. Bitcoin has been around since 2009. It launched itself into the mainstream spotlight when it started closing in on the price of almost $20,00 for one BTC. Since those all time highs, the price of Bitcoin has been on a decline. Many say this is to be expected because they do not see the value in BTC and cryptocurrency in general and see no future in it. Some see the death of the market on the horizon, so does this really mean Bitcoin will die?

Any Crypto enthusiast will tell you “NO, the bull move is coming!” or “*insert cryptocurrency here* is going to the moon soon! Just HODL!”. This alone will not be enough for the average consumer on the fence, to determine whether Bitcoin or cryptocurrency is something they would be willing to get into. We here at Cryptocation believe that BTC is here to stay. We aim to provide more than just price speculation, but active news and information about innovation, adoption about the mainstream, and movements going on in the crypto tech world. Hopefully we can help you see this is more than just a fad going on in the tech world right now.

First reason, “every market has its downs”. Even the most successful companies in the world get caught in a downward market. Stock traders often call stocks “overbought” or “oversold”, this refers to when a stock has had too many buyers or too many sellers. A stock’s price will often correct itself to a price where it will attract more buyers or the holders of the stock will sell to make their profits. Bitcoin and crypto are no different from these markets. Many believed that the price of $19,000+ a Bitcoin was highly over priced, so this down turn is seen by many as a correction. Many say the price will correct itself and head back up to its highs. BTC’s price drop has however been a lot steeper than most stocks and that will definitely scare some.

Second, BTC’s continued growth. Even in this downward market, BTC’s overall growth is still heading in an upward trend if you look at it year to year. If you ignored the yearly highs in price and looked at its yearly lows it might surprise you. This was a post from a twitter user that helped shed some light on the overall growth of BTC. This was a post from a twitter user that mapped out the growth of BTC while looking at its lowest price each year. BTC showed steady gains almost each year despite its high price fluctuation each year. It also has out preformed almost every stock in the traditional markets, without institutional money being poured into it. These are all great things to consider if you want to compare it against the regulated markets. As always though, past performance does not guarantee future performance.

These brings us to the final reason, which is what many believe the real meat of why Bitcoin and crypto have been changing the tech world. BTC is based on a technology called the blockchain. Blockchain and all the potential it holds is the foundation for all the buzz around BTC and cryptocurrencies like it. This new technology is the excitement behind the cryptoworld, it is an open ledger to check and verify transactions between two parties. Peer-to-peer interaction across the internet. Since the ledger is open everyone sees the transaction history in the from of “wallet addresses” that need a private key to be accessed. “Nodes” carry that history and come to a consensus to the accuracy of this ledger. Very block in the chain is linked so the history of the chain is actively recorded, all the way back to the genesis block. If someone were to attempt to change a block within the chain it must be verified against the open ledger, and against every node on the network. Changing the history in one area would not account for all the other nodes on the network, and that is a complicated task to accomplish. Innovations go beyond just “digital cash” appliances to. Blockchain can be used to track medical records, record votes for an election ballet, manage smart contracts, and track groceries all the way from farm to grocery store. New uses are being developed everyday! This is were many believe the true value of Bitcoin, cryptocurrency, and Blockchain truly resides. We hope to bring you this value through our blog on a regular basis. 

Welcome to the Cryptocation Blog!

Wild Wild West

Wild Wild West

Was 2018 the end of crypto’s “Wild, Wild West” days?

Many have approached Bitcoin and cryptocurrencies with alot of healthy skepticism, with the market providing plenty to give those on the fence reasonable doubt. The rise to the public eye has been a sharp one. Though the poster boy Bitcoin and its fellows have consistently out preformed the any traditional stock almost every year, It has been marred by major hacks or “heists” on exchanges and wallets, loss of access to wallets by losing your private keys, and in general extreme volatility with price. All this without any form of regulation and to put it lightly “shooting from the hip” when trying to police the crimes affecting many getting into the market. It’s hard not to feel like it’s a free-for-all in the market some days. Despite all this, crypto has caught the public’s eye, and even with the doubt and scorn. Everyone wants to punch a ticket for the next ride up in price, making 2019 the year of regulation and adoption.
Signs of the times have been in the news lately, and it comes from one of cryptos biggest set backs. Mt. Gox was a pretty hefty blow to early adopters and crypto advocates back in 2014. Incharge of about 70% of all Bitcoin transactions at the time, the exchange lost 850,000 BTC, worth almost $450 million at the time ($36 billion by todays standards). Mt. Gox would soon fade as its customers lost faith in the exchange. Not to mention as this happened, the exchange seemed to collapse internally further frustrating those trying to access their account. Many thought these funds were lost and nothing could be done about it, but the authorities brought in a man said to be a key figure in the “heist”. Alexander Vinnik was indicted in 2017, and as of 2019, BTC billionaire Brock Pierce has recently released his intentions to reinstate the troubled exchange. He is working with Japanese authorities to clear Mt. Gox, and right what many see as Bitcoins most notably wrong. He will also be giving over 20,000 of Mt. Gox creditors a stake in the company. A great way to gain public favor has always been to right your wrongs.
With Bakkt and ETF rumors still looming on the horizon and various governments across the world looking to implement crypto into their economies. It’s hard not to feel the buzz and shift towards these relatively new financial tools. Even though Facebook has blocked all ads on their platform for BTC and crypto. This has not stopped them from joining the arms race to develope blockchain technology and services for their platform. This can be said for many nay sayers in the market, despite their doubt in the crypto market, they are still scrambling to adopt blockchain as well. The question is no longer “if” but “when” will we see all of these changes start to take effect. Bitcoin may or may not “moon” again and many other cryptocurrencies may die off, but blockchain and its uses are pretty much here to say. So before you count out Bitcoin and its fellow cryptocurrencies, remember “the early bird gets the worm” and they are “early” by about 10 years. They have set roots across the world, they are not restricted to functioning as American, European, or as country for that matter. The various cryptocurrencies have accomplished all this without the help of any of the “big money” contenders in the market today. That in itself is amazing.
We are still in the beginning of 2019, and crypto is lined up for an amazing year. The sky-rocketing prices may not come, but regulation and mainstream adoption are getting closer and closer. Past wrongs are being corrected, and speed bumps that are encountered by the market are looked at as opportunities to improve and restore good faith for its consumers. Instead of taking slaps on the wrist and looking for the next loop hole to jump through like we have seen in the past by others. So if you are looking for alternatives to the your traditional financial services, crypto is looking more and more like a legitimate contender as the year goes on. It’s fun to think of it as order being brought to this wild market, by those who have stuck around to tame it. Now there will be those looking to stake their claim, why shouldn’t you?

Tap To Pay

Tap To Pay

Using Crypto to Pay, Just a tap away

The messaging and browsing app, Status, has recently released a new wallet. Keycard is being billed as an open source, secure, and contactless Hardwallet. The blockchain originally released the Status mobile wallet app in partnership with Faast. Their new wallet will be distributed to crypto developers for free, and then available to purchase at $29.

Guy-Louis Grau, the Product Manager, recently spoke with the news outlet Coindesk. In their conversation, Grau mentioned that the wallet would be the same size as a Visa card. They will be compatible with bitcoin, bitcoin cash, litecoin, XRP, ether and all ethereum-based ERC20 tokens.

Keycards will be expected to reach those interested in early March, the wallet will not be user-facing in the beginning, or not as a “full end customer product” but a tool, per Grau. It is being billed as a tool to be used by third-party blockchain projects, the wallet will allow them to secure their project on a cost effective hardware wallet.

The keycard itself will be integrated later this year. The project hopes this will encourage those using the wallet to build and develop the card themselves. Keycard’s API will remain entirely open source, allowing developers to integrate with mobile apps, desktop wallets, point of sale retail devices and create smartcards of their own.

Those curious about the wallet should visit the Keycard’s website, https://keycard.status.im/. To see Grau’s conversation with Coindesk, the article can be found here https://www.coindesk.com/status-launches-a-tap-to-pay-crypto-hardware-wallet

City Chain

City Chain

City-Chain: a brand new City “Block”

As Blockchain looks to continue and innovate, new uses are being built and discovered. One of the newest areas that are being looked into is a “smart city platform”. The goal is to create a system that makes blockchain available to everyone. The Smart City Platform will host services like; City Hub, City Chain blockchain, wallet software, Identity Framework, Voting Framework, Vehicle Registry…. the list goes on.

If you think this is far-fetched, the city of Liberstad, Norway has recently stated that they will be ditching their own fiat currency and adopting a city-sponsored cryptocurrency. They are partnered with City Chain and its Smart City Platform and look to create what they are dubbing as a “private city”. Some may think this may be reserved for the more privileged of society, but the Liberstad intends to attract anyone who believes in anarchism and non-aggression. Anarchism may be a strong word for some, but this would pertain more to a city with a government that is absent of surveillance, coercion, and violence.

While a private city may cause skepticism from some, Governing bodies in the city have long governed and maintained the services that will be offered by this new platform. The goal of the Smart City is to make these services more efficient and cost effective. This will also allow a more direct involvement from the citizens that reside in the city. The City Coin will be operating as a medium of exchange, allowing purchases of city services, fund civic projects, and pay worker wages.

As blockchain technology is adopted by more of the products and systems we use daily, Its usefulness will grow and look to improve our society. Should this new system prove successful in Liberstad, we may see many others follow suite in Norway. Details on the project can be found on the city’s website https://www.liberstad.com/. Details for the Blockchain project can be found here http://city-chain.org/. It will be interesting to see how effective these products will be and if they will deliver on what they are proposing.

tZero, Overstocks New Exchange

tZero, Overstocks New Exchange

Overstock was the first online retail outlets to except Bitcoin for payment. Its owner Patrick M. Byrne has never been one to shy away from advocating for Bitcoin and crypto in general. The tZero platform looks to revolutionize capital markets and address the some of the inefficiencies of wall street with the introduction of Blockchain technology. Its network and technology aims to provide issuers a new solution to access capital and enable secondary liquidity for otherwise illiquid investments. “The trade is the settlement” as stated on their website, tZero aims takes advantage of the blockchain technology, two factor identification, as well as multi-sig addresses to protect for their clients and consumers.

TZero will be taking advantage of tools provided by Dinosaur Financial Group. Founded by Glenn Grossman, a man with 30 years of running operations for Wall street firms. Dinosaur has a vast network and connections in the traditional financial markets, which they access to broker deals and partnerships. When you sign up for Tzero you will be creating an account with the Dinosaur Financial Group. Their various terms and conditions, as well as their privacy policies will apply when you set up your account.

The set up process will require your address, social security, photo idea, as well as your income and net worth. You will be able to set up an account but you must go through an accreditation process. The Accreditation process falls under the same guidelines stated by the SEC for being an(https://www.investor.gov/additional-resources/news-alerts/alerts-bulletins/updated-investor-bulletin-accredited-investors) accredited Investor. Their is a pull down list for other options for accreditation on the website but users will need to be meet these requirements before you can trade or access the market data. One of the other options listed is if you already own TZROP tokens, but most might not fit into the $200,000 income and $1,000,000 Net worth category.

TZero is definetly an awesome step forward for the blockchain and cryptocurrency markets, but it maybe a little out of reach for the general public and casual traders to use as of now.