https://cointuta.com/was-bitcoin-miami-a-covid-superspreader-event-too-early-to-say-2/?feed_id=185676&_unique_id=60c410448b6ab
Friday, June 11, 2021
$GTII - GLOBAL TECH INDUSTRIES GROUP, INC. ANNOUNCES LAUNCH OF BETA VERSION OF ITS BEYOND BLOCK PAY DIGITAL WALLET
New York, NY, June 11, 2021 (GLOBE NEWSWIRE) -- Global Tech Industries Group, Inc. (OTCQB: GTII) (“GTII” or the “Company”), www.gtii-us.com, a Nevada corporation, announced today that the beta version of its digital wallet “Beyond Block Pay” should be available on Monday morning, June 14, 2021 to anyone who is interested in establishing a Beyond Block Pay account. The new website address will be announced by the Company on Monday, June 14th..
Through GTII’s agreement with Alt5 Sigma, Inc. (“Alt5”), the Beyond Block Pay digital wallet and the launch of its crypto currency exchange Beyond Blockchain is intended to enable customers to trade cryptocurrencies (such as Bitcoin, Bitcoin Cash, Bitcoin SV, Litecoin, Ethereum, and Tether), tokens, FX, commodities (physical gold and silver), and other assets, such as fractionalized interests in tokenized fine art, through the Company’s digital assets platform. As was previously announced, the Company acquired an original Picasso etching to begin the formation of its planned digital fine arts and collectibles platform. The work, entitled ‘Quatre femmes nues et tete sculptee’ was executed in 1934 on Montval laid paper and published by A. Vollard, Paris, in 1939 (the “Picasso Etching”). Also, in early June, the Company completed another fine arts collectible purchase, ‘Bianca Jagger – Birthday Party at Studio 54’ a gelatin silver print, taken in 1977. These two acquisitions, in conjunction with GTII’s partnership with Cavalier Galleries, have formed the basis of what we hope will be a significant digital arts portfolio that could appeal to both classic and contemporary fine art collectors.
The technologies being provided through GTII’s agreement with Alt5 will house any tokenized and fractionalized assets that the Company may distribute to its shareholders.
David Reichman, CEO of GTII commented “We are very pleased that we are close to making available the beta version of our Beyond Block Pay digital wallet, which will serve as the entry point to the Company’s digital assets platform. We look forward to advancing the roll-out of our platform and enhancing its functionality as we prepare to include our fine arts digital assets on the platform.”
About Global Tech Industries Group, Inc.: GTII, a publicly traded Company incorporated in the state of Nevada, specializing in the pursuit of acquiring new and innovative technologies.
Please follow our Company at: www.otcmarkets.com/stock/GTII
Safe Harbor Forward-Looking Statements:
This press release may contain forward looking statements that are based on current expectations, forecasts, and assumptions that involve risks as well as uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in our filings with the SEC. Among other matters, the Company may not be able to sustain growth or achieve profitability based upon many factors including but not limited to the risk that we will not be able to find and acquire businesses and assets that will enable us to become profitable. Reference is hereby made to cautionary statements set forth in the Company’s most recent SEC filings. We have incurred and will continue to incur significant expenses in our development stage, noting that there is no assurance that we will generate enough revenues to offset those costs in both the near and long term. New lines of business may expose us to additional legal and regulatory costs and unknown exposure(s), the impact of which cannot be predicted at this time.
Words such as “estimate,” “project,” “predict,” “will,” “would,” “should,” “could,” “may,” “might,” “anticipate,” “plan,” “intend,” “believe,” “expect,” “aim,” “goal,” “target,” “objective,” “likely” or similar expressions that convey the prospective nature of events or outcomes generally indicate forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of this press release. Unless legally required, we undertake no obligation to update, modify or withdraw any forward-looking statements, because of new information, future events or otherwise.
Mike King
Princeton Research, Inc.
3887 Pacific Street, Las Vegas NV
702.338.2700
I bought a phone at a yard sale that contains wallet with 27 Bitcoins, what do I do now?
So I took my mom to the yard sales last Saturday and came across this Android phone. The seller was an old man (about 65ish years old I'm guessing). I asked him what was wrong with the phone and he said nothing but that it belonged to his son who unfortunately passed away.
I turned it on to make sure it worked and that it did not have a screen lock, it did not, he wanted $25 for it. Which seemed Fair since it's from 2015-2016.
Coming home with plans to factory reset it and keep it as a back up in the event of my current phone breaking, I turn it back on and couldn't help myself from going through the apps before a reset and that's when I notice that there's a Bitcoin wallet, I open it and after a while of it "catching up with the network" it shows 26.86498 bitcoins.
My heart started pounding. My hands shaking. Adrenaline is still rushing through my body. I sent about $500 of Bitcoin to my Coinbase wallet to make sure this was all legit and was able to sell and instantly PayPal my funds.
Now my question and concern is , do I legally own these? Can I run into any legal trouble? And how do I go about paying taxes on this if I get to keep them?
Also is coinbase the best place to convert these to cash? Or what would be a better option? I'm sure my account will get either flagged or I will not be able to sell after a certain amount and I don't want to have to run into that problem. This is about a million dollars at the current price so how much is Uncle Sam cut ?
With the current price I don't think it's a good time to sell so Im transferring the rest into my hardware wallet that I bought and this will be kept in a safety deposit box.
I'm not looking for judgment or what to do morally , I'm currently unemployed and live in the shittiest part of town, no car and have debt out the wazooo. I just want to know where I stand legally.
[WTS]/[WTT] Bullion and a couple pours
Details below, please let me know if you see any errors. If the price seems too good to be true, it’s a mistake and if it seems too high let me know. I tried to price based on recent sales and current online listings. Some prices are negotiable so make me a reasonable offer if you are interested.
*In some instances close up videos are previously sold items, but the mold is the same – there may be some slight variation in the appearance
Also I am specifically looking for these South East Refining Rounds in trade
Generics - $32 per ozt (unless otherwise noted)
(41) Liberty/Eagle Generic Bars - https://imgur.com/Ie97dUI - https://imgur.com/k32YMmr
(2) Silvertowne Generic - https://imgur.com/CWzLoRi
(3) Sunshine Minting - https://imgur.com/kk5ShnN
$18 each - ½ ozt Buffalo - https://imgur.com/bq3tWCG - https://imgur.com/nQSpE3D
Premium
$40 each - 1989 Canadian Maple - https://imgur.com/FVQDng8 - https://imgur.com/7JXsw5r
$28 each - 3/4 ozt Canadian 1812-2012 Centennial - https://imgur.com/0oOWMfX - https://imgur.com/EXXKBL1
$42 each - 2020 Niue Donald Mickey - https://imgur.com/tAcutNA - https://imgur.com/70zDAUi
$48 each - 2019 Tuvalu Homer - https://imgur.com/nSuouAH - https://imgur.com/drdHb58
$90 - 2 ozt Sun Tzu The Art of War Art High Relief - https://imgur.com/b3qPayc - https://imgur.com/TgC4DUA
$145 - 2019/2020 Germania Lot - https://imgur.com/V2HStMX - https://imgur.com/kosHguw
$825 each - Mint Certified 2020 Britannia Roll - https://imgur.com/G6hVYTq - https://imgur.com/gOkmhmu
(4) $35 each - 2019 APMEX Direct Australian Kookaburra - https://imgur.com/RRQ8pme - https://imgur.com/SxIWams
(15) $37 each - 2020 APMEX Direct ASE - https://imgur.com/2uNKYEz - https://imgur.com/2SkElF5
(4) $34 each - 2018 APMEX Direct Canadian Maple - https://imgur.com/75OlWgv - https://imgur.com/Dpk749L
Lots
$110 - 1982/85/87 Engelhard Prospector Lot - https://imgur.com/FKl8h4a - https://imgur.com/OPk19Kz
$65 - GSM Incuse 1/ 0.5/ 0.25/ 0.1 ozt Lot - https://imgur.com/GIKjNbD - https://imgur.com/aTH6mw6
$280 - 8 ozt UNIQUE Buffalo Lot - https://imgur.com/Ok6P78B - https://imgur.com/tTQ2ldG - this is 8 different versions of this classic design
$70 - Envela Covid Mask/Virus Combo Lot - https://imgur.com/f1e5V5z - https://imgur.com/dbBwwFZ
International (Add on to an existing sale only)
Spot - 1951 Australia 3 Pence 0.0227 ozt ASW - https://imgur.com/OrzTt5u - https://imgur.com/iPWmrHD
Gold
$15 each - 2016 1/10th gram Aurum Gold Note - https://imgur.com/yM9waLu - https://imgur.com/d10uCnu
JSB Silver - I can antique anything below before shipping if you prefer
Graphite Poured
Sand Cast - Cast item weights vary slightly, up to 0.1 ozt unless otherwise noted. Each item gets stamped or engraved with its actual weight
1.8 ozt JSB Stay Clean Round - $70 each
1.1 ozt JSB Cola Cap - $48 each
3.7 ozt Cast Phat Boy Round - $130 each
(2) 1.8/1.9 ozt Antiqued Lightsaber - $85 each
(2) 1 ozt JSB Beskar Bar - $52 each
Shipments on this sale will be USPS first class for $5 or priority for $8.
Payment by PPFF, Zelle, Venmo, Bitcoin, and ETH
Prices are subject to change at any time due to market fluctuations and in the event of a listing error or update.
Feedback – The easiest way to get feedback is to post a link to your comment on this WTS once received. This allows me to easily navigate there while on mobile
please review my resume and give me positive and negative feedback
name
EMAIL LINKEDIN URL PHONE NUMBER
Education------------------------------------ Atlanta, Georgia
- Candidate for B.S. in Chemical and Biomolecular Engineering Expected graduation: Aug. 2022
- Dean’s List every semester, GPA: 3.25
-------------------------------- - Study Abroad Metz, France
- Flexible and adaptive in new environments May 2019 - Aug. 2019
- Enhanced cultural awareness and sensitivity to cultural differences
- Open minded, independent, self-reliant
ExperienceInternship: Supply Chain Trainee, --------------------- St. Louis, Missouri
- Designing new warehouse management system June 2021 - Aug. 2021
- INFORMATION TO BE ADDED AFTER THE END OF INTERNSHIP
Co-op: Process Engineer, --------------- Burkville, Alabama
- Developed both leadership and teamwork skills through project management
- Furthered my knowledge of process engineering and data analytics working in a chemical plant
- Reinforced problem solving and time management skills to complete tasks efficiently and effectively
- Identified environmental, health, safety, and security risks thus reducing onsite accidents and injuries
Finishing Plant Jan. 2021 - May 2021
- Created an ergonomic solution to stringing up lines in the extrusion process after an operator’s injury
- Designed a new dust collection system, preventing occupational hazards and saving on operation costs
- Created and implemented a new, more intuitive process for monthly emergency lights inspections
Brine Recovery Plant & Utilities Plant June 2020 - Aug. 2020
- Implemented safety upgrades to truck and rail loading/ unloading stations after an operator’s injury
BPA Plant Aug. 2019 - Dec. 2019
- Analyzed and implemented a water addition plan to a reactor effluent tank to purify BPA, increasing profits
- Coordinated the combination of pressure safety valves and rupture disc inspections saving operators time and therefore SABIC money
ResearchGeorgia Institute of Technology, Dr. ---------- Group Atlanta, GeorgiaResearching sorption, diffusion, and permeation fundamentals in CMS polymer Jan. 2020 - Present
- Engineering, creating, and characterizing of advanced membranes, sorbents, and barriers
- Performed pyrolyses and calculated permeance using constant-volume permeation tests and gas chromatography
Georgia Tech Lorraine, Dr. ---------- Group Metz, FrancePerformed cryptography research in electrical and computer engineering May 2019 - Aug. 2019
- Researched encryption methods such as SHA and AES and cryptocurrencies, Bitcoin and Ethereum
LeadershipExecutive Board ----------------------------- Fraternity
- New Member Educator- In charge of all new members Aug. 2021 - Nov. 2021
- Manage new members’ risk while acting as liaison between new members and brothers
- Social Chair- Management of the fraternities social affairs Nov. 2019 - Nov. 2020
- Managed, planned, and spent $44,000 budget to coordinate social affairs for all brothers
- Worked in collaboration with other executive board members to make decisions for fraternity
- Historian- Leader of alumni relations Nov. 2018 - May 2019
- Coordinated all alumni events including tailgates and meet and greets
- Organized and managed alumni and brother golf outing with 40 people
SkillsPrograming: MatlabSoftware: Word, Excel, PowerPoint, SAP, Gensuite, aspenONE Process Explorer (IP21)Laboratory: Proficient with laboratory equipment, procedures, safety, and research integrityClubs: American Institute of Chemical Engineers, ChemE Car Club, Sports Business Club Reply Reply All Forward
please review my resume and give positive and negative feedback
name
EMAIL LINKEDIN URL PHONE NUMBER
Education------------------------------------ Atlanta, Georgia
- Candidate for B.S. in Chemical and Biomolecular Engineering Expected graduation: Aug. 2022
- Dean’s List every semester, GPA: 3.25
-------------------------------- - Study Abroad Metz, France
- Flexible and adaptive in new environments May 2019 - Aug. 2019
- Enhanced cultural awareness and sensitivity to cultural differences
- Open minded, independent, self-reliant
ExperienceInternship: Supply Chain Trainee, --------------------- St. Louis, Missouri
- Designing new warehouse management system June 2021 - Aug. 2021
- INFORMATION TO BE ADDED AFTER THE END OF INTERNSHIP
Co-op: Process Engineer, --------------- Burkville, Alabama
- Developed both leadership and teamwork skills through project management
- Furthered my knowledge of process engineering and data analytics working in a chemical plant
- Reinforced problem solving and time management skills to complete tasks efficiently and effectively
- Identified environmental, health, safety, and security risks thus reducing onsite accidents and injuries
Finishing Plant Jan. 2021 - May 2021
- Created an ergonomic solution to stringing up lines in the extrusion process after an operator’s injury
- Designed a new dust collection system, preventing occupational hazards and saving on operation costs
- Created and implemented a new, more intuitive process for monthly emergency lights inspections
Brine Recovery Plant & Utilities Plant June 2020 - Aug. 2020
- Implemented safety upgrades to truck and rail loading/ unloading stations after an operator’s injury
BPA Plant Aug. 2019 - Dec. 2019
- Analyzed and implemented a water addition plan to a reactor effluent tank to purify BPA, increasing profits
- Coordinated the combination of pressure safety valves and rupture disc inspections saving operators time and therefore SABIC money
ResearchGeorgia Institute of Technology, Dr. ---------- Group Atlanta, GeorgiaResearching sorption, diffusion, and permeation fundamentals in CMS polymer Jan. 2020 - Present
- Engineering, creating, and characterizing of advanced membranes, sorbents, and barriers
- Performed pyrolyses and calculated permeance using constant-volume permeation tests and gas chromatography
Georgia Tech Lorraine, Dr. ---------- Group Metz, FrancePerformed cryptography research in electrical and computer engineering May 2019 - Aug. 2019
- Researched encryption methods such as SHA and AES and cryptocurrencies, Bitcoin and Ethereum
LeadershipExecutive Board ----------------------------- Fraternity
- New Member Educator- In charge of all new members Aug. 2021 - Nov. 2021
- Manage new members’ risk while acting as liaison between new members and brothers
- Social Chair- Management of the fraternities social affairs Nov. 2019 - Nov. 2020
- Managed, planned, and spent $44,000 budget to coordinate social affairs for all brothers
- Worked in collaboration with other executive board members to make decisions for fraternity
- Historian- Leader of alumni relations Nov. 2018 - May 2019
- Coordinated all alumni events including tailgates and meet and greets
- Organized and managed alumni and brother golf outing with 40 people
SkillsPrograming: MatlabSoftware: Word, Excel, PowerPoint, SAP, Gensuite, aspenONE Process Explorer (IP21)
Laboratory: Proficient with laboratory equipment, procedures, safety, and research integrity
Clubs: American Institute of Chemical Engineers, ChemE Car Club, Sports Business Club Reply Reply All Forward
GLOBAL TECH INDUSTRIES GROUP, INC. ANNOUNCES LAUNCH OF BETA VERSION OF ITS BEYOND BLOCK PAY DIGITAL WALLET
New York, NY, June 11, 2021 (GLOBE NEWSWIRE) -- Global Tech Industries Group, Inc. (OTCQB: GTII) (“GTII” or the “Company”), www.gtii-us.com, a Nevada corporation, announced today that the beta version of its digital wallet “Beyond Block Pay” should be available on Monday morning, June 14, 2021 to anyone who is interested in establishing a Beyond Block Pay account. The new website address will be announced by the Company on Monday, June 14th..
Through GTII’s agreement with Alt5 Sigma, Inc. (“Alt5”), the Beyond Block Pay digital wallet and the launch of its crypto currency exchange Beyond Blockchain is intended to enable customers to trade cryptocurrencies (such as Bitcoin, Bitcoin Cash, Bitcoin SV, Litecoin, Ethereum, and Tether), tokens, FX, commodities (physical gold and silver), and other assets, such as fractionalized interests in tokenized fine art, through the Company’s digital assets platform. As was previously announced, the Company acquired an original Picasso etching to begin the formation of its planned digital fine arts and collectibles platform. The work, entitled ‘Quatre femmes nues et tete sculptee’ was executed in 1934 on Montval laid paper and published by A. Vollard, Paris, in 1939 (the “Picasso Etching”). Also, in early June, the Company completed another fine arts collectible purchase, ‘Bianca Jagger – Birthday Party at Studio 54’ a gelatin silver print, taken in 1977. These two acquisitions, in conjunction with GTII’s partnership with Cavalier Galleries, have formed the basis of what we hope will be a significant digital arts portfolio that could appeal to both classic and contemporary fine art collectors.
The technologies being provided through GTII’s agreement with Alt5 will house any tokenized and fractionalized assets that the Company may distribute to its shareholders.
David Reichman, CEO of GTII commented “We are very pleased that we are close to making available the beta version of our Beyond Block Pay digital wallet, which will serve as the entry point to the Company’s digital assets platform. We look forward to advancing the roll-out of our platform and enhancing its functionality as we prepare to include our fine arts digital assets on the platform.”
About Global Tech Industries Group, Inc.: GTII, a publicly traded Company incorporated in the state of Nevada, specializing in the pursuit of acquiring new and innovative technologies.
Please follow our Company at: www.otcmarkets.com/stock/GTII
Safe Harbor Forward-Looking Statements:
This press release may contain forward looking statements that are based on current expectations, forecasts, and assumptions that involve risks as well as uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in our filings with the SEC. Among other matters, the Company may not be able to sustain growth or achieve profitability based upon many factors including but not limited to the risk that we will not be able to find and acquire businesses and assets that will enable us to become profitable. Reference is hereby made to cautionary statements set forth in the Company’s most recent SEC filings. We have incurred and will continue to incur significant expenses in our development stage, noting that there is no assurance that we will generate enough revenues to offset those costs in both the near and long term. New lines of business may expose us to additional legal and regulatory costs and unknown exposure(s), the impact of which cannot be predicted at this time.
Words such as “estimate,” “project,” “predict,” “will,” “would,” “should,” “could,” “may,” “might,” “anticipate,” “plan,” “intend,” “believe,” “expect,” “aim,” “goal,” “target,” “objective,” “likely” or similar expressions that convey the prospective nature of events or outcomes generally indicate forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of this press release. Unless legally required, we undertake no obligation to update, modify or withdraw any forward-looking statements, because of new information, future events or otherwise.
Mike King
Princeton Research, Inc.
3887 Pacific Street, Las Vegas NV
702.338.2700
PLEASE REVIEW MY RESUME AND GIVE POSITIVE AND NEGATIVE FEEDBACK
name
EMAIL LINKEDIN URL PHONE NUMBER
Education
------------------------------------ Atlanta, Georgia
- Candidate for B.S. in Chemical and Biomolecular Engineering Expected graduation: Aug. 2022
- Dean’s List every semester, GPA: 3.25
-------------------------------- - Study Abroad Metz, France
- Flexible and adaptive in new environments May 2019 - Aug. 2019
- Enhanced cultural awareness and sensitivity to cultural differences
- Open minded, independent, self-reliant
Experience
Internship: Supply Chain Trainee, --------------------- St. Louis, Missouri
- Designing new warehouse management system June 2021 - Aug. 2021
- INFORMATION TO BE ADDED AFTER THE END OF INTERNSHIP
Co-op: Process Engineer, --------------- Burkville, Alabama
- Developed both leadership and teamwork skills through project management
- Furthered my knowledge of process engineering and data analytics working in a chemical plant
- Reinforced problem solving and time management skills to complete tasks efficiently and effectively
- Identified environmental, health, safety, and security risks thus reducing onsite accidents and injuries
Finishing Plant Jan. 2021 - May 2021
- Created an ergonomic solution to stringing up lines in the extrusion process after an operator’s injury
- Designed a new dust collection system, preventing occupational hazards and saving on operation costs
- Created and implemented a new, more intuitive process for monthly emergency lights inspections
Brine Recovery Plant & Utilities Plant June 2020 - Aug. 2020
- Implemented safety upgrades to truck and rail loading/ unloading stations after an operator’s injury
BPA Plant Aug. 2019 - Dec. 2019
- Analyzed and implemented a water addition plan to a reactor effluent tank to purify BPA, increasing profits
- Coordinated the combination of pressure safety valves and rupture disc inspections saving operators time and therefore SABIC money
Research
Georgia Institute of Technology, Dr. ---------- Group Atlanta, Georgia
Researching sorption, diffusion, and permeation fundamentals in CMS polymer Jan. 2020 - Present
- Engineering, creating, and characterizing of advanced membranes, sorbents, and barriers
- Performed pyrolyses and calculated permeance using constant-volume permeation tests and gas chromatography
Georgia Tech Lorraine, Dr. ---------- Group Metz, France
Performed cryptography research in electrical and computer engineering May 2019 - Aug. 2019
- Researched encryption methods such as SHA and AES and cryptocurrencies, Bitcoin and Ethereum
Leadership
Executive Board ----------------------------- Fraternity
- New Member Educator- In charge of all new members Aug. 2021 - Nov. 2021
- Manage new members’ risk while acting as liaison between new members and brothers
- Social Chair- Management of the fraternities social affairs Nov. 2019 - Nov. 2020
- Managed, planned, and spent $44,000 budget to coordinate social affairs for all brothers
- Worked in collaboration with other executive board members to make decisions for fraternity
- Historian- Leader of alumni relations Nov. 2018 - May 2019
- Coordinated all alumni events including tailgates and meet and greets
- Organized and managed alumni and brother golf outing with 40 people
Skills
Programing: Matlab
Software: Word, Excel, PowerPoint, SAP, Gensuite, aspenONE Process Explorer (IP21)
Laboratory: Proficient with laboratory equipment, procedures, safety, and research integrity
Clubs: American Institute of Chemical Engineers, ChemE Car Club, Sports Business Club
Was Bitcoin Miami a COVID Superspreader Event? Too Early to Say
https://cointuta.com/was-bitcoin-miami-a-covid-superspreader-event-too-early-to-say/?feed_id=184068&_unique_id=60c3cc7943927
Crypto Attendees Positive for COVID19 Following the Biggest-Ever Bitcoin Event in Miami
https://cointuta.com/crypto-attendees-positive-for-covid19-following-the-biggest-ever-bitcoin-event-in-miami/?feed_id=180700&_unique_id=60c34f44715ce
Listen live! Jack Dorsey promoting hyperbitconization (in spanish)
Join here:
https://twitter.com/jack/status/1403195224768319491?s=09
Bitcoin-Induced Demonetization This article is about the possibility of Bitcoin-induced currency demonetization, or hyperbitcoinization, which is what would happen to any hapless currency that stands in Bitcoin's path of total world domination. If this happens, the currency will rapidly lose value as Bitcoin supplants it. What would such an event be like and how can it be understood economically?
Comparison to Hyperinflation Demonetization refers to a process by which people cease to use a good as a currency, and hyperinflation is a kind of demonetization when the government inflates the currency at an accelerating pace. Hyperbitcoinization is a different kind, though it will appear (superficially) similar. In both kinds events, prices in the doomed currency will skyrocket until it is no longer a currency at all.
There are two essential differences between hyperinflation and hyperbitcoinization. The first is that a currency hyperinflates with restricted competition from other currencies, whereas hyperbitcoinization happens because of competition with Bitcoin. This is because capital controls are much more effective on other fiat currencies than on Bitcoin, so it is easy for Bitcoin to cross borders and compete with anything.
The second is that in a hyperinflation, the government expands the money supply to outpace people's inflation expectations. Demonetization occurs as a result of their destructive interaction. Whereas a hyperbitcoinization event need not be accompanied by any change in the supply of either currency.
As the government forms a habit of inflating the money supply, its people form a habit of anticipating rising prices. This prevents the government from gaining as much each time it inflates. Thus, to get the same kick, the government must inflate more. The money loses value once people anticipate such heavy inflation that they can't spend it fast enough and it no longer functions as a currency.
Hyperinflation is an entrepreneurial act on the part of government, in the sense that it involves a continually changing intervention that prevents an equilibrium from forming. The government must continually alter its own behavior to stay ahead of its people's. The moment they begin to anticipate its future policy, the government must change the policy by increasing the rate of inflation.
Hyperbitcoinization is a voluntary transition from an inferior currency to a superior one, and its adoption is a series of individual acts of entrepreneurship rather than a single monopolist that games the system.
Whoops, You Just Got Bitcoin'd! Based on these two differences, I make two predictions about a hyperbitcoinization event.
A hyperbitcoinization event will be much quicker than a hyperinflation event. I have two reasons for this. First, the government will have a much greater difficulty preventing bitcoins from entering the country due to the impotency of capital controls upon it. Second, hyperinflation is inherently an attempt to fool people, whereas hyperbitcoinization is quite regular and predictable (at least by comparison). Therefore people will more easily see that they had better switch over. Thus, as fast as hyperinflation is, hyperbitcoinization will be even faster. It will happen much faster than you expect.
Hyperbitcoinization will not disrupt the economy to nearly the same degree as hyperinflation. The currency is the instrument of the division of labor, and hyperinflation makes it unreliable and forces people to use worse alternatives. In a hyperbitcoinization event, people switch from a fundamentally inferior currency to a superior one, whereas in a hyperinflationary event people will only switch to a new currency once the old currency becomes worse than the next best alternative, such as gold or detergent. Hyperbitcoinization should be accompanied by a rapid improvement in productivity and wealth.
Hyperbitcoinization will probably be a confusing time for everyone, like a second adolescence. However, once it is over, no one will be able to imagine how we got by with the earlier system.
Tokenpost NFT Conference Keynote: The Era of Oracle DeFi
On May 27th 2021, CenterPrime made a keynote speech called “The Era of Oracle DeFi” at “Blockchain Trend Conference 2021: BTC 2021”, Korea’s first NFT conference held by TokenPost.
The BTC 2021 Conference, held at Grand Hyatt Seoul, is an event held to analyze major trends in the blockchain industry and discuss future prospects. NEM Vice President: Davide Ham, NEM CTO: Kristy Leigh-Minehan, QuarkChain CMO: Anthurine Xiang, ConsenSys Asia Pacific Director: Charles d’Haussy and others were present.
CenterPrime gave a keynote speech on the future of the blockchain industry on the topic of the era of Oracle DeFi. The full text of CenterPrime’s keynote speech is as follows.
Good afternoon, I’m representing CenterPrime, a company striving to connect the real economy and DeFi economy together. It is an honor to participate in this Oracle Defi Conference together with all of you, who have proven technological prowess and share your innovative ideas to develop the industry further.
The blockchain industry has shown remarkable growth as a future industry. However, even as the industry grows, many people still consider blockchain as only cryptocurrency. This has become a big hurdle which hinders the clear and robust upward growth of the industry. People have this perception because the current use of blockchain technology is mostly focused on virtual asset transactions, which don’t have ground in any real value.
This stigma must be changed, so people can know the value of blockchain. Blockchain technology is not only used simply for virtual asset transactions but is also used in various industries closely related to the real world. In this situation, CenterPrime decided to develop the Oracle Perceptron Protocol.
Like the synapses that make up our brains, the Oracle Perceptron Protocol is necessary for a diverse, interlocking structure. In order to achieve this, we set up two key goals. First, we put the real data into a block. Currently, most blocks contain simple data; however, in order for blockchain technology to relate to the real world, real-flowing data must be contained in these blocks. We are not “on-chaining” data which is already “on-chain”, we are “on-chaining” “off-chain” data through smart contracting.
Second, we can create a synthetic asset token that can be used in the real world by linking the assets of the traditional economy with the assets of the DeFi economy. Since Defi asset tokens are decentralized there isn’t sufficient grounds for the value of the asset. So, these assets can’t be used in the real world. We are proposing a synthetic asset that has a solid ground. In order to do this, we need to connect traditional assets and Defi assets.
To create this type of synthetic asset there needs to be a cross-chain network where multiple chain networks can cross each other and various token assets can be traded freely. As such, the ecosystem I described resembles a complex neural network.
It must be built like this as a result of the current blockchain network fees. In a single chain network, the price of token assets will be affected by the price of underlying coins such as Bitcoin and Ethereum. Additionally, the transaction fee called a “gas fee”, is also affected by the price of the underlying coin. This means that there isn’t a choice in the network that can be used. This causes difficulty in predicting business costs when using coins, which makes the blockchain network hard to apply to the real world.
The synthetic asset token that will be used in the cross-chain network is designed to be used by selecting a network with a reasonable gas fee. Therefore, people will be able to select networks with reasonable gas fees rather than paying irrationally high fees. So, because each industry relates to each single chain network, many industries related to chain networks can be developed.
As I described earlier, the Oracle Perceptron Protocol is an oracle project that connects assets of the traditional economy and assets of the DeFi economy to establishes a foundation, and at the same time, build a synaptic ecosystem in which neurons are intricately intertwined. That is why we named it the Oracle Perceptron protocol project.
Cross-chain networks like I described will be one of the biggest trends of our time, and Binance and QuarkChain are representative examples of companies doing such projects. Binance introduced Oracle Relay Protocol by cross-chaining with Binance Chain and Binance Smart Chain. QuarkChain demonstrates efficient and flexible operations by dividing the chain network into two layers. One containing root chain, one containing shards and connecting them.
Center Prime, through this announcement, provides a solution that can improve the limitations of the current block chain industry structure expansion, and suggests a leading prospect for the Oracle DeFi era, a new era through cross-chain.
About CenterPrime
The CenterPrime project uses a hyperledger private chain to share an open banking API to apps, connecting centralized finance to decentralized finance. Also making smart pairing data for loan, remittance, exchange, payment, and exchange rate information possible to be included in fintech oracle networks.
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