Hey everybody!


Source: cryptosvet.cz

I assume you regularly read my posts so you know about Manna and Electroneum. In short, Manna is cryptocurrency targeting on poor people to give them some Universal Basic Income (UBI) – just sign and you’ll earn some money every week – my referral is https://www.mannabase.com/?ref=8106c4a7eb.


Source: steemit.com/airdrop/@moroccan/get-free-manna-base-interesting-project

It’s interesting that Italian government is considering to introduce some kind of UBI for Italians. Electroneum (ETN) is a quite different cryptocurrency – it has been developed to allow anyone, regardless of technical ability, easy access to a cryptocurrency. And it’s possible to „mine“ this cryptocurrency via cell phone.

What connects them? You can earn free money, but not much.

I referred 8 persons for MANNA and since April 2018 I’ve earned MANNA worth 1 USD So the only work was to persuade some people to sign up:

On the other hand, mining ETN means some work. At least you must turn on the app and sometimes check whether the app is running (it suddenly stops several times a day). Since April 2018 I’ve earned ETN worth 2.5USD (100.54+11.73+11.91ETN):

If you aren’t poor, both of them are almost worthless unless you refer a lot of people or use tens of cell phones for mining.

Have a nice day!

Best platform for trading cryptocurrencies is Binance:

https://www.binance.com/?ref=25352291

Disclaimer:
Never invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.

Hey followers!

Anybody interested in this ICO? https://hashcard.io


Source: https://twitter.com/hashcard

I’ve read the whitepaper. The idea behind that is great – to pay with crypto by a card, like by a common debit card. But in my opinion, tx fee 1.75% for each transaction is horrible (not mentioning other monthly or annual fees). And the worst thing for speculators is that nothing from that fees is going to holders of tokens. Jesus, why? Do they think, we’re that stupid?! If you buy, for example, SiaCoin, you’ll receive your share from every paid fee on network.

I truly wanted to find any good reason to use this card – but I haven’t found any. All right, in case, you want to stay anonymous, you pay with BTC, or

XMR (for more, please read http://promisingcoins.com/monero/ or

DeepOnion (using Tor you’re truly anonymous, for more, read my previous post: http://promisingcoins.com/deeponion/.

And what is important – without that terrible fee 1.75%.


Source: pixabay.com

You will be able to pay with that special card in common store. But what’s the point? When you buy bread and milk in a supermarket or some electronics in Best buy, you don’t need to be anonymous and you don’t need to pay any extra tx fee…

On the other hand, they have a fancy marketing, very good looking pics and 10k followers on Twitter. For example, MANNA (http://promisingcoins.com/manna/) launched in 2015, has only 8k. Taking this into consideration, it could be good short-term speculation as their marketing is very good.

Best platform for trading cryptocurrencies is Binance:

https://www.binance.com/?ref=25352291

Disclaimer:
Never invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.

Hey followers!

Today, I update how I continue with Electroneum (ETN) mining:

First of all, why is ETN so successful? The answer is super easy and I’ll use one of many comments from BitcoinTalk.org: „I’ve got nothing to lose but only the power of my phones energy if I’ll try it out.“ Yeah, that’s it! And it’s not taking any energy out of your phone at all.

But I’d say you have nothing to gain as well as I’m able to mine about 3 ETN during whole night. I own Honor 7 lite and my hashrate is around 30H/s. If you wanna share, please leave a comment with your hash hash rate, I’m curious.

I have been mining since the beginning of April 2018 only during nights (three times a week approximately) and I’ve mined 90 ETN worth slightly above 2USD. It’s 50 cents per week, ridiculous, right? But remember: „I’ve got nothing to lose but only the power of my phones energy if I’ll try it out.“

I’d like to mention that it’s still not possible to transfer your mined ETN to your wallet. I have around 70 ETN in my miner having no idea how to transfer it. Reading BitcoinTalk.org I see that somebody has already been paid so I guess I wait in a queue. My last payment was on Apr 11:

Sometimes my app accidentally stops so I mine 0 or 0.5 ETN in whole night and it seems that I’m not the only person with this problem:

And team members claim they’re listening to users but they are NOTlistening. Check their post here:

All the time they’re talking about their success but forgot to mention issues with withdrawal ETN from miners and randomly stopping mining.

To summarize that I must say mobile mining is quite amusing so I keep mining.

If you wanna mine and support me (if you like my post), please use my referral: 8CBBC5

Have a beautiful day!

I would be very grateful for supporting this web (web hosting costs, time, etc.) by donating BTC to this address:

35RV36hvpjaR7kdJvWNhBduMpUbhvy8wXF

Best platform for trading cryptocurrencies is Binance:

Disclaimer:

Never invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.

 

Investing in cryptocurrencies reflects investors’ opinion that in the future, cryptocurrency will be a functional means of payment. It’s that simple. How can the future of cryptocurrencies be predicted? Let’s have a look at it.

Sia
Which one would you choose? Credit for the Picture belongs to my cousin Monika.

Last time I wrote about SiaCoin (SC) quite generally. Today, as I said last time, I’ll focus more on objective criticism of SC.

The most important thing is that hosts (storage providers) and clients (users who agree to store their data) must benefit from utilizing SC. Let’s start from clients‘ side. There are some parameters that everybody takes into account when deciding which file storage to choose. One of the most important is the price of the service. Let’s compare SC with well-known file storages (you can see all of them in the picture above 😊)

How does Sia work? Credit for the picture belongs to my cousin Monika, thank you very much!

From my point of view, I can rent via Google drive 1TB/month for 10USD – it’s integrated within Google services so it’s very easy to use. Buying external HDD for 60USD may be a better choice (but it’s not the best backup as your files will be near to your laptop, probably if your flat burn down, you’ll lose everything). Dropbox offers 1TB/month for 10USD as well. Amazon offers „low cost“ variant 23USD/1TB/month. SC offers, right now, 2USD/1TB/month, but it’s very volatile. For example, in January 2018, the price was over 10USD for most of the time. But usually, SC solution is less expensive. Good for Sia.

You can see the volatility of average storage price
Source: SiaStats.info.

The best advantage of SC is the decentralized solution unlike to traditional solutions like a Google drive Amazon’s AWS and so on. If Google or Amazon decides tomorrow to shut me off or delete all my stuff, I’ll lose all my files. This can’t happen using SIA.

As SC plans to enable files sharing it could be beneficial for people sharing illegal stuff as nobody can delete uploaded files and it should be anonymous. But you must buy SC to provide collateral, so you must be very careful when you buy SC – the police can trace your IP address as you probably buy it on an exchange where you must provide or personal information. So I wouldn’t be so sure that this is a truly anonymous way to share illegal stuff.

Would be SC suitable for sharing illegal stuff?
Source: theverge.com

Let’s have a look at the other side – hosts (storage providers). To be honest, SC is not as much matured project so you could easily provide your free place on your HDD utilizing SC. You need to have a crypto exchange account because you must provide some collateral to start providing your storage. The certain amount of SC is locked up for the period you store files so you have the reason not to lose stored files. It makes a sense.

From my point of view it would be easier to make money by providing unused CPU cycles, for more: promisingcoins.com/airbnb-for-computers-golem/ or to mine Electroneum: http://promisingcoins.com/electroneum_part1/  and gain some referrals so then it’s quite profitable or sign up for Manna Universal Basic Income: https://www.mannabase.com/?ref=8106c4a7eb and gain some referrals so then it’s quite profitable.

A better choice? Probably not… Source: dataflow.com.cy

From the hosts‘ point of view, right now, it’s more for crypto enthusiasts than for people trying to make money providing, for example, one or two terabytes as you can make 1-2USD/month/TB.

Best platform for trading cryptocurrencies is Binance:

Disclaimer:

Never invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.

Investing in cryptocurrencies reflects investors’ opinion that in the future, cryptocurrency will be a functional means of payment. It’s that simple. How can the future of cryptocurrencies be predicted? Let’s have a look at it.

Which one would you choose? Credit for the picture belongs to my cousin Monika, thank you!

Today I have the honor of introducing the cryptocurrency with a market cap of around 600 million (18/04/18), making it #32 in the crypto world according to market cap.

According to whitepaper: „Sia is a variant on the Bitcoin protocol that enables decentralized file storage via cryptographic contracts. These contracts can be used to enforce storage agreements between clients and hosts. After agreeing to store a file, a host must regularly submit storage proofs to the network. The host will automatically be compensated for storing the file regardless of the behavior of the client.“ This is the core of the project SiaCoin.

How does Sia work? Credit for the picture belongs to my cousin Monika, thank you very much!

This is a quite similar project to another cryptocurrency project called Golem which is „Airbnb for computers“. You can rent your unused CPU/GPU cycles and get paid in cryptocurrency. A decentralized network powering true cloud computing. For more read my previous article: http://promisingcoins.com/airbnb-for-computers-golem/ SiaCoin (ticker is SC) could be called „Airbnb for computers“ as well. You rent your unused space on your hard drive instead of renting unused CPU/GPU cycles. Actually, you can do both of them.

Anybody who has a spare place on HDD can rent it via SC – the only cost is electricity cost. The most recent rate for renting HDD space is around 40-50SC/TB/month (around 0.9USD). You can check a recent rate: https://siahub.info

All right there are more similar, but centralized projects, like a Google Drive, One Drive, Dropbox, and Amazon Cloud. I will compare this services with SC from client’s perspective next time. Using this services is possible only as a client, not as a host so you can’t make any money.

Source: https://www.nichemarket.co.za/blog/sia-coin-sc/

Nebulous Inc., the company behind SC, has the perfect way how to monetize the whole project so they don’t need to rely on selling pre-mined SiaCoins. Nebulous Inc. has the second cryptocurrency called SiaFund (SF). There are 10 000 coins in total (all of them premined) and 3.9% of all successful storage contract payouts go to the holders of the Siafunds. According to https://siawiki.tech/wallet/siafund, „Nebulous Inc., holds 8835 of these Siafunds. The remaining Siafunds were sold in a crowdfund which helped finance Sia’s early development.More people using Sia means more funding available to hire more developers.“

Very good idea how to monetize crypto project, isn’t it? I understand that these developers are not volunteers like early Bitcoin developers (they followed great visions and ideas rather than trying to make a fast buck).

Revenues from sharing your HDD space 🙂 Source: Pixabay.com

On the other side, it would make a sense to buy SF rather than SC as SF grants you access to a portion of the hosts‘ income – you can consider SF being dividend stock. As SF is not listed on any exchange you must buy it over the counter, you can ask directly somebody who owns SF. The risk is that this market is illiquid so nobody knows the real price of SF. If you buy SF you bet that people will use SC as clients much more than these days and you will earn in interests (3.9% of all successful storage contract payouts distributed to owners of 10 000 SF) more than you pay for SF.

All right, now you know what SC is (and SF). Next time I will focus on the objective criticism of this project, something like SWOT analysis.

To be continued…

Best platform for trading cryptocurrencies is Binance:

Disclaimer:

Never invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.

Today I’ll start with quite a negative tone. The thing I don’t like very much about Manna is its very generous referral program (but I use it because of obvious reason as other people do). You can sign up for UBI to receive your UBI once a week. This is great. But for every person you refer (who signs up for UBI and verify her or his phone number) you’ll receive one extra UBI for next 1 year (and the referred person will receive 50% of his or her UBI for next 1 year).

Source: http://www.grantcoin.org/wp-content/uploads/manna-banner-new.jpg

The result is that Manna (which can be converted to USD or other fiat currency immediatelly) is distributed rather to marketeers than to people in need (e.g. in 3rd countries). Ok, Manna grows exponentially mainly due to this exaggerated marketing – it was extremely successful – I’m helping to grow Manna’s community as well by sharing referrals. But they should stop it as soon as possible, or at least to reduce from 100% bonus to 10% for every referred person.

The table below shows its exponential growth:

Source: whitepaper

As this is a nonprofit organization, classified as a public charity, you can automatically send your received Manna to people in need. Each Mannabase user can enter information about themselves (e.g. country) and everybody (especially well-off users from developed countries) can automatically allocate the certain percentage of their UBI to the specified group of people – for example to a poor widow in Nigeria with 5 small children.

Source: https://www.ibtimes.co.uk/famine-in-somalia-are-africans-doing-enough-198655

In the future, People’s Currency Foundation intends to establish a Capital Reserve Fund consisting of a well-balanced investment portfolio (stocks, bonds, cryptocurrencies,…). The main goal of the Fund is to achieve long-term financial sustainability of People’s Currency Foundation – not dependent on donations. The idea is to cover UBI and other financial needs by profits generated by the Fund.

To summarize it: I think, Manna currency is a great project with a great future as it is backed up not only by speculators but the price is backed up by donors as well. Maybe in the future, it’ll be covered by Capital Reserve Fund!

If you like my post please use my referral, you’ll earn extra 50% UBI in next 1 year, it’s win-win:
https://www.mannabase.com/?ref=8106c4a7eb

There is the evidence that distribution of UBI works:

Best platform for trading cryptocurrencies is Binance:

Disclaimer:

Never invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.

 

Investing in cryptocurrencies reflects investors’ opinion that in the future, cryptocurrency will be a functional means of payment. It’s that simple. How can the future of cryptocurrencies be predicted? Let’s have a look at it.

Today I have the honor of introducing the cryptocurrency with a market cap of around 0.35 million (06/04/18), making it #1024 in the crypto world according to market cap.


Source: http://www.grantcoin.org/wp-content/uploads/manna-banner-new.jpg

According to the whitepaper: „The People’s Currency Foundation (shortly PCF, a United States-based 501(c)(3) nonprofit organization) offers a solution to the growing problem of wealth inequality and its consequences. We have developed an alternative currency called Manna which is issued into circulation as a universal human right, with equal access for all whenever new units of the currency are created and distributed.“

All right, the main goal is to provide Universal Basic Income (for more: https://en.wikipedia.org/wiki/Basic_income). Anybody who signs up for UBI will receive a certain amount of Manna every week. I like the idea UBI could be distributed utilizing cryptocurrency. The most recent Manna money supply I’ve found is this (as of 1/1/2018):

Source: whitepaper

You can see that they have quite a large 10 years reserve of Manna for weekly UBI for next 10 years (750m). If they transit to automated coin creation instead of using reserves, they will burn that reserves. The rate of automated coin creation will be 3.5% of the current supply of Manna in circulation – close to the historical average of inflation in developed countries.

There is a certain amount of Manna being distributed every week (around 350 000) so it depends on the number of recipients how much everybody will get. Last week I got almost 10 Manna, around 350k were dividend among 40k recipients:

You can very quickly sign up for UBI, just follow instructions: https://www.mannabase.com


Source: mannabase.com

Very important to projects like this is to distract potential fraudsters. Manna should be delivered to people in need, not to people trying to abuse the system. Manna team have implemented just very basic anti-fraud strategy yet – you must confirm your phone number so you’re limited only in this way (you can purchase multiple SIM cards – but I wouldn’t recommend that due to a relatively small amount of economic value being distributed to each person). According to the whitepaper, they intend to implement a further anti-fraud strategy in future – an algorithmic web of trust system, in which Mannabase users will be scored on their likelihood of being a real, unique human being.

Very interesting thing is that they consider using Civic within anti-fraud strategy (blockchain-based identity verification tokens) – for more see my previous article about Civic: http://promisingcoins.com/civic-in-depth-analysis-promising-token-for-2018/

Source: https://www.youtube.com/watch?v=hLz1jccTGq4

The thing I like very much about Manna is that its price isn’t backed up just by speculators like most of the cryptocurrencies. It’s backed up also by tax-deductible donations which are used to buy back the token on markets where it trades. A tax deduction is possible because People’s Currency Foundation is a United States-based 501(c)(3) nonprofit organization, classified as a public charity by the U.S. Internal Revenue Service. Note that in these early days the value of Manna is still determined mostly by the free market.

All right, now you know basic information about Manna and you’re ready to sign up for UBI. Next time we will go more in depth.

If you liked this post, please use my referral: https://www.mannabase.com/?ref=8106c4a7eb

To be continued…

Disclaimer:
Never invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.

 

Last time I focused on cell phone „mining“. Today I‘ll add some extra ideas about „mining“ and mining and I’ll summarize all the information about Electroneum.

Výsledek obrázku pro electroneum

Source: news.bitcoin.com

It’s almost worthless amount (to „mine“ about 0.1USD per one day) but I can imagine that somebody can appreciate it as it can be achieved without any work or costs, just running app in the background. You can transfer your „mined“ amount of ETN to exchange (e.g. Cryptopia has listed ETN) and then convert it to fiat (USD, EUR, …). But the problem is that people who would appreciate even small amounts of ETN often don’t have access to a bank account so they can’t convert their ETN into any fiat currency (after moving funds to cryptocurrency exchange).

I was extremely surprised about real CPU mining via my laptop. You can easily find instructions how to mine and it’s really user-friendly – unlike my other mining experience where you must set up a bunch of things. The funny thing is that my 2 years old low-end laptop has the hash rate about 8H/s – compared to the hash rate of my cell phone (2 years old as well) which is around 25H/s – and unlike the CPU mining phone „mining“ doesn’t consume almost any electricity. On the other hand, I understand that. CPU mining on the laptop is real and mobile mining is artificial. They must exaggerate calculated hash rate on the cell phone so it attracts more people – it’s like a viral marketing.

To summarize it: Electroneum has the really user-friendly environment at all which is essential when you’re trying to reach a mass adoption of cryptocurrencies. I appreciate it.

Výsledek obrázku pro electroneum

Source: electroneumworld.com

Let’s move to another topic. They should (according to whitepaper) focus on gaming and gambling as well. I’m quite skeptical about their plans as it doesn’t bring anything new and we already have more working gaming coins (e.g. FunFair) – for more see my post about FunFair.I like the only one idea from the whitepaper regarding gaming and gambling: ETN could replace (or rather to complement) black market where players (e.g. World of Warcraft) buy and sell virtual coins and game provider has no profit from it. Buyers undergo obvious risks by proving credit card details to black market. There is a possibility that they would buy virtual coins for games officially for ETN (or another cryptocurrency). I must admit I don’t play any game so it’s hard to evaluate this possibility for me, maybe somebody could do it in comment under this post 😊 I would really appreciate it!

In the whitepaper there is a lot of stuff regarding its marketing rather than solving any real problem (except the mass adoption of cryptocurrency). In fact, they have quite a weird whitepaper. In my opinion, it’s ridiculous that the team is trying to explain on 3 pages out of 24 pages what cryptocurrencies are. I guess, everybody who reads whitepaper of some cryptocurrency must know what cryptocurrency really are. This is just wasting of the place in the whitepaper.

Source: electroneum.cz

All right, let’s summarize it. ETN doesn’t bring anything new to the table. They’re as user-friendly as possible and I can say they already achieved some mass adoption as mobile „mining“ is something like a magnet and great marketing tool. If they will solve how to easily use „mined“ ETN for buying real stuff this wouldn’t be useless cryptocurrency. Except sending ETN to exchange and converting it to real money – this is not a way as anybody already using cryptocurrency exchange obviously has adopted cryptocurrency earlier. Finally, I don’t see any good reason to buy (I don’t mean to mine) this cryptocurrency as I think people own ETN only because of mining and exaggerated marketing.

Best platform for trading cryptocurrencies is Binance:

Disclaimer: Never invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.

Investing in cryptocurrencies reflects investors’ opinion that in the future, cryptocurrency will be a functional means of payment. It’s that simple. How can the future of cryptocurrencies be predicted? Let’s have a look at it.

Today I have the honor of introducing the cryptocurrency with a market cap of around 140 million (30/3/18), making it #77 in the crypto world according to market cap.


Source: https://pbs.twimg.com/profile_images

According to the whitepaper: „Electroneum, built on its own blockchain, has been developed with the explicit intention of gaining mass adoption via the 2.2 billion smartphone users. It launches via a token sale on 14/09/18 and represents a unique opportunity. Electroneum is a complementary currency that has been developed to allow anyone, regardless of technical ability, easy access to a cryptocurrency. Within a few minutes of installing the mobile app any user can see Electroneum being added to their wallet via the unique mobile mining experience. Nearly all cryptocurrencies are „mined“ with specialist equipment. Electroneum can be obtained via the mobile mining experience on the app.“

Sorry for quoting quite a long part of whitepaper but it has its own purpose. In my opinion, the whitepaper could be short like this one paragraph and it would say (almost) everything about this cryptocurrency.

All right, the main goal of Electroneum is to achieve a mass adoption of cryptocurrencies and that’s great. It’s a reasonable goal, especially when you take into account countries where people spend the equivalent of 2 or 5USD per one day. Then it makes a sense mobile „mining“ as you’ll probably „mine“ around 1.25 ETN over the night (6 hours), about 5 ETN within 24 hours if your hashrate is 25H/s like on my Honor 7 lite.  You can „mine“ almost without electricity costs, but you must be connected to the Internet. Today’s price of ETN is about 0.02USD/ETN so you can mine 0.1USD per day.

I must say that mobile „mining“ is extremely easy. It takes about 3 minutes (depending on you internet connection) to download and install mining app and after some easy steps you’re ready to mine“. Worth mentioning is that you’re not really mining anything, just running app which simulates a mining.

I‘ve tried it out for you. Notice the time in upper right corner and amount of ETN „mined“.

And you can compare it with the screenshot almost 9 hours later:

To be continued…

Best platform for trading cryptocurrencies is Binance:

Disclaimer:

Never invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.