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Tron VibraVid

TRON VibraVid | John McAfee Gets Behind TRON’s Upcoming Platform

The cryptocurrency world is noticing TRON. The blockchain network is developing a host of new legitimate platforms on its protocol. Now, notorious crypto enthusiast, John McAfee, loves one of the latest: TRON’s VibraVid platform.

TRON’s VibraVid and Further Protocol Developments

One of TRON’s most anticipated projects is BitTorrent Speed (expected in Q2 according to the website). Its purpose, as detailed on the website, is to reward “BitTorrent users with BitTorrent (BTT) in exchange for seeding and bandwidth, enabling faster downloads.”

The bandwidth sharing application is expected to lure millions of new people to the blockchain industry.

BTT, the token behind the application, is listing on dozens of exchanges at the same time that TRON’s dApp projects continue to grow.

Enhancing the entire TRON network, then, is an upcoming hardfork, which is expected to enhance the security and overall performance of TRON.

John McAfee and TRON VibraVid

As stated, John McAfee has taken notice of TRON’s developments, but one venture has caught his eye in particular.

The crypto bull expressed his adoration for the TRON VibraVid platform, saying “I do love this” in a Twitter response to the platform’s team.

VibraVid

VibraVid is an upcoming decentralized content sharing platform, “a decentralized answer to the industry giants like YouTube.” Powered by BeatzCoin (BTZC), the platform gives content creators a way to upload, market, and sell their content to fans or users. BTZC tokens are exchanged between artists and consumers directly, for the use of digital content. The idea is that the entire platform will act as a hub for artists such as musicians, who can control and monetize their works.

>> Facebook Coin Rumors Continue to Circulate: What’s the Truth?

Clearly, John McAfee gets behind artists controlling their own assets on these types of sharing platforms.

TRON is the 9th largest cryptocurrency by market cap. At the time of writing, TRX is trading at $0.023 USD per coin according to CoinMarketCap.

Are you a fan of TRON? Do you think TRON’s VibraVid platform will be successful?

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Assembly Bill 953

Assembly Bill 953 | New Legislation Combines Weed and Stablecoins

Lawmakers in California have introduced a new bill geared towards cannabis companies. Assembly Bill 953 was introduced on February 21st. This new piece of legislation would allow cannabis-related businesses to pay taxes and fees in digital currency—more specifically, in stablecoins.

Assembly Bill 953

If passed, Assembly Bill 953 would allow all California-based tax offices (state, city, and county) to accept stablecoins as a form of payment. Cannabis companies would be able to pay their cultivation taxes with stablecoins. At this time, a specific stablecoin has not been identified, and it remains unknown if all forms of stablecoins will be accepted.

Assembly Bill 953 wouldn’t go into effect until January 1st, 2020, if it is approved at all.

Currently, the state of California imposes a 15% state excise tax on cannabis and cannabis products. Often, cannabis companies owe a large tax amount at the start of each year.

Another issue many cannabis businesses have run into is securing simple financing services from banks. There are a few states that have legalized the use of recreational cannabis, but it is deemed illegal under federal law. Most banks are secured by the Federal Deposit Insurance Corporation (FDIC) and won’t finance ‘illegal’ activity.

>> TRON VibraVid: John McAfee Gets Behind TRON’s Upcoming Platform

Due to this, cannabis companies hold hundreds of thousands of dollars in cash at any given time. Assembly Bill 953 is not geared towards boosting cryptocurrency or the legitimacy of stablecoins, but more to reduce the vast majority of cash that gets flooded into the tax offices across the state.

California’s State Treasurer, Fina Ma, recently testified in front of the US House Committee regarding the amounts of cash collected. Ma said:

“Duffel bags and sometimes suitcases of cash would arrive quarterly at some of our designated offices and some business owners had to drive 350 miles to pay their taxes.”

It remains unknown at this time when Assembly Bill 953 could be approved.

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Tron Hard Fork

TRON Hard Fork Coming Soon! Will TRX Rise or Fall?

TRON’s CEO Justin Sun announced that his platform will be adding a group of upgrades this week. A TRON hard fork will take place on February 28th and will add four new features.

TRON Hard Fork: Odyssey 3.5

TRON hopes the new set of upgrades will up its appeal to institutional users—a growing trend in the cryptocurrency space. Odyssey 3.5 will include new features such as account management and multi-signatures that will boost the security of blockchain transactions on the platform. The second upgrade will focus on the dynamic energy management system, which seeks to improve TRON’s blockchain efficiency.

Many of the Proof-of-Work (PoW) systems like Bitcoin consume a lot of energy and TRON seeks to streamline its network performance to avoid this. This upgrade also seeks to manage the network’s energy more efficiently.

>> Bitcoin Price Drop: BTC Loses $400 in Just 30 Minutes

The new upgrade focuses on the performance of the TRON Network. Odyssey 3.5 is said by Sun to improve the network’s performance by 50%. Since its birth, TRON has outperformed many of its competitors by transaction speeds. However, Sun’s tweet is extremely vague and gives little to no information on how this will be done. Even TRON’s official Twitter hasn’t released any news on the hard fork.

Lastly, the TRON Virtual Machine will get an upgrade. The co-founder states that it will receive ‘better’ safety, but no details have been provided at this time. It’s unknown if the project plans on releasing a full report of the upgrade before the hard fork takes place.

TRX Movement

According to CoinMarketCap, TRX is currently the ninth-largest digital currency. At the time of writing, the digital currency is trading at $0.024 a coin, up 1.57% in 24 hours. The news of the TRON upgrades has barely affected the price of the digital currency. Are TRON enthusiasts waiting until they receive more information on the hard fork before taking action?

What do you think?

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cryptocurrency regulation

SEC and CFTC May Combine Efforts to Regulate Cryptocurrencies

Bitcoin ETFs are a hot topic with the US regulators. The Securities and Exchange Commission, in particular, has been expected to approve some of the applications for some time now, but it looks like they are trying to avoid it at all costs. Furthermore, most of the applications have been either denied or completely ignored without even the slightest hint of feedback. The applications are long overdue, and the applicants are starting to become restless.

However, the SEC had a ‘meeting’ with the other US regulator called the CFTC (Commodity Futures Trading Commission), it has been reported that the two regulators have shared their opinions about the matter and are ready to partner up to tackle cryptocurrencies.

Comments about the Industry

The ‘Crypto Mom’ (Hester Peirce) herself explained the SEC’s stance towards Bitcoin ETFs. She noted that they have been rather reluctant to sign off on the Bitcoin ETF applications they have been receiving. Although it is not the best type of feedback, it is still better than nothing. So now we know that the applications could be far away from approvals.

>> ICO Scams: FBI Seeks to Educate Investors with Red Flags for ICO Fraud

There is one contradiction about the announcements, however. Peirce noted that there are numerous markets that are not regulated by the SEC, but products are still being developed within them. She also noted that the Bitcoin ETF approach seemed a bit merit-based, which was dangerous. However, it is hard to connect the two statements together. If it is as dangerous as any other unregulated industry, then why are other industries still able to operate but cryptocurrencies are kept lagging behind? These are the questions that most Bitcoin ETF applicants are willing to find an answer for.

The CFTC Commissioner, Brian Quintenz, noted on top of Crypto Mom’s announcement that the CFTC has a pattern when dealing with such a predicament. For example, if there is a side that had an application with the CFTC, the regulator has a specified amount of time to reply with either “Yes, we agree, let’s do it,” or with “No, we disagree and here’s why.” If the CFTC fails to make any of these two answers, then the applicant will have the chance to self-certify, meaning that there will be no involvement from the side of the regulator.

Clashing Ideals

Although both of the institutions are trying to regulate crypto assets, they still have a division in the way they look at them. For example, the CFTC is responsible for Bitcoin and Ethereum directly, and the SEC is more in-tune with the ICO (Initial Coin Offering) market. These two are practically inseparable, that’s just basics of cryptocurrency, meaning that no matter what, if a full regulatory framework is introduced from both sides, a joint effort will be required at some point.

>> Cryptocurrency Bull Run: An Improving Economy Encourages Gains

Crypto Mom even mentioned the fact that she and Brian Quintenz are interested in combining their efforts in tackling this “confusing” market. Whether or not a joint effort is announced remains to be seen, but nothing can be certain. If there indeed is a partnership to come, then Bitcoin ETFs can have two options. Either be completely forgotten by the SEC or be more quickly adapted thanks to the CFTC’s ideals.

Featured image: DepositPhotos © hello.artmagination.com

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crypto trading

How to Beat Trading Losses in a Cryptocurrency Market Slump

Losing money is painful, and since it can disrupt your way of life, many people try to avoid it. As volatile as the crypto market is, losses can be inevitable, but you can master the market.

The reality of financial markets is that there will always be highs and lows, just like other segments of life. Amid the lingering bear market that cryptocurrencies have languished in for several months now, some nuggets can help. For many people who entered the trading scene at the onset of the price slump, finding a breather so far might have been far-fetched.

In all honesty, that the market has largely traded in dips is not a death-knell just yet. The traditional stock market has taken a hit in the last year, yet, activities have continued on the platforms. Why then must anyone think differently of cryptocurrency markets?

As a cryptocurrency trader, it is important to own your space and be geared to make the best of the opportunities available. Have you suffered losses of late? You can ride the market once more. Here are five tips you can use:

1. The Chill Pill

There is no one who just suffered a setback that can be said to be in the best state of mind. This is true irrespective of the kind of loss that might have resulted. Whether it is financial, emotional, or material, the recommendation is to pull back.

Taking some time off the routine will help your mind get back to an optimal state. Losses bring disenchantment even to the strongest among men. The aftermath of a financial loss should be such that makes you leave the trading scene for a while.

The immediate justification for a pull-back is to prevent you from making trading decisions that will get you deeper into the mire of losses. While you observe a chill, your mind will be reinvigorated, and you can begin to take hold of the reins once more.

>> Coinbase Wallet Expanding with New Support for Bitcoin Cash

2. Assess and Review What Went Wrong

In the period following the hiatus you take from trading, you also need to begin to get ready for a return. That you suffered losses does not mean that you should bolt from trading. No matter how painful it all might be, the time calls for you to begin to assess what went wrong.

Sometimes, it is the wisest thing to lay out the sheets. What did you do wrong? Could you have used a safeguard? Did you rush in head first? The answers to all of these questions form the assessment process. You must be able to put your fingers on what went wrong.

The truth is that even the biggest and most renowned traders suffer losses too, but they have learned to use safeguards. No financial trader can altogether avoid losses, and this is the reason using the reverse scenario must not be neglected. What if my projections fail? What if there is no payback? Can the trading platform be trusted? Is the reputation of my broker worth the trust?

Painting the reverse picture in your present circumstance is a great hedge in many turns in life. If you did not do this before your losses occurred, then you should recognize that you missed the plot.

3. Build Your Resource

An important nugget that Warren Buffet always points at is knowing your turf. Never trade crypto because you saw an advert by the best crypto exchange. Have you learned the basics? The crypto scene is huge, and there are segments to understand. The altcoins are a different ball game in comparison to the leading coins like Bitcoin.

Your duty is to research and build a resource that you can master about the target of your trade. If you choose to follow ICOs or STOs, make sure you understand the dynamics. Find a niche you can know through and through. The biggest moneymakers in the financial markets dominate a turf. They don’t trade everything and all things.

Part of crypto trading is knowing that significant losses may occur with a small change that topples the market. Knowing this, it’s foolhardy not to have a grip on your trades.

4. It’s Not Over ‘Til…

As the saying goes, it’s not over ’til it’s over. As long as you are able to recognize where you went wrong, you need to gear up and start again.

It is a clear fact that an understanding of the market can earn you millions with a surge in market prices. Despite the pull of the bears, many people are still making money on the scene. Knowing what to leverage and the tools to hedge is a smart way to ride the market.

>> Crypto News: Elon Musk Talks Bitcoin and Binance Expands

You need to brace up and face the future as only the brave and courageous take the spoils. As blockchain adoption deepens across the globe, many opportunities are emerging on the crypto scene that cannot be ignored. That is why you must give time to adequately research and fact find.

5. A New Start

Having cleaned out the loss and opened your mind to a new lease of life, you are set to start trading again. With all the lessons you have learned, you can now proceed like the sage and trade with confidence.

You need to know that no matter how careful or smart you become, losses will still occur. If you have learned hedging techniques and not to follow the rave, you have a chance to make some decent money. You are set to get the best returns when you know where to look and pick your trades.

Last words

For a determined trader, losses cannot be the end of life. Riding the highs and lows of crypto markets is the leeway to making money. While some see the bear market and stop trading, others seek out the goldmine and explore the same.

You can bounce back and trade profitably after a season of losses if you put the lessons here to work.

Featured image: DepositPhotos © iqoncept

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