RIPPLE MINING: AN IMPOSSIBLE TASK

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In 2018 so far, Ripple (XRP) has had its ups and downs with a few notable developments, which have ensured its continuous presence in the spotlight. Nevertheless, there is way more to this digital currency platform than meets the eye.

As the latest addition to Coinbase, XRP has seen an influx of investors, leading it to usurp Ethereum as the second-largest cryptocurrency by market capitalization. Another effect of this development is a sudden price surge, which left investors wondering if there were other profitable channels through which Ripple could be capitalized on.

One of the major ways that cryptocurrency holders can earn a profit is through mining, the process of safeguarding a network by confirming transactions in exchange for a payout (block reward). Since a lot of digital currencies are underpinned by blockchain technology, mining is a common process in the industry. However, with Ripple, investors met a dead-end: the currency is unmineable.

WHAT IS RIPPLE?

Ripple is a decentralized blockchain solution that aims to eradicate major issues associated with cross-border remittance. For a long time, the global settlement has presented a couple of problems including slow transaction speeds and high fees due to the number of third parties involved in the process. XRP provides a platform for users to send money globally similar to other settlement platforms like Moneygram and Western Union.

The Ripple platform is built on a distributed open source protocol that enables support for cryptocurrency, fiat, commodities and several other units of value. Based on a shared public ledger technology, it uses a consensus mechanism that allows users to make distributed exchanges, payments, and remittance. The company has statedits main aim as the enabling of "secure, instantly and nearly free global financial transactions of any size with no chargebacks."

The Ripple platform was originally derived from RipplePay, a platform which aimed to replace banks using digital settlement practices. It was created and run by Ryan Fugger in 2004, about 5 years before the emergence of Bitcoin.

Ripple co-founder Jed McCaleb began creating a new digital currency consensus-based system in 2011. The system would enable all transactions carried out within it to be easily verifiable by anyone on the network while protecting user data. This meant that unlike Bitcoin, Ripple would have no big mining process and would be resistant to most of the costs associated with mining the former currency.

Together, Jed McCaleb and Chris Larsen pitched their idea to Ryan Fugger and soon, Ripplepay was acquired by McCaleb who changed its name to OpenCoin inc. in September 2012. As a payment system, OpenCoin used the Ripple protocol as a way for users to send money quickly to others.

Shortly after, McCaleb left OpenCoin and moved on to create Stellar (XLM) another cross-border payment platform focused on bringing remittance to the unbanked population in developing countries. In 2012, following the split, OpenCoin became Ripple Labs, which in turn was further shortened to Ripple in 2015.

By 2013 Ripple had become more focused on becoming a settlement network catering to banks, rather than a user-focused payment protocol. The firm also added numerous features such as account freezing, to its platform, in a bid to aid compliance.

Performance-wise, the currency has had an eventful year, arguably better than most other digital currencies. A series of Bull runs and one Coinbase listing later and Ripple has made its way into the hearts and pockets of investors.

WHY IS RIPPLE IS NOT MINEABLE?

Although mining is a big deal in the crypto space, quite a number of digital currencies are not mineable. To the disappointment of investors, Ripple is one of such currencies. There are several reasons for this:

• The platform is solely run by Ripple labs, which has continued to deny its controlling role in the distribution of tokens and design of the system. However, the power to create more XRP token ultimately lies in their hands.
• So far, Ripple labs have produced about 100 billion XRP and only a small portion of this figure is currently in circulation.
• Bitcoin circulating supply grows a lot larger with each block that miners solve and append to its blockchain. Ripple, on the other hand, has a fixed supply and will remain the same until Ripple labs do something to change it.

HOW CAN YOU ACQUIRE XRP?

The only way to truly get XRP tokens is by exchanging them for other cryptocurrencies which can either be bought or mined. To do this, users can purchase BTC on Coinbase using fiat currency. The Bitcoins can be used to establish a trading pair on an exchange like Binance, Bitstamp or Kraken. However, users must be careful as there are many scams involved in buying XRP. Ripple tokens can be stored in several types of wallets, including Toast, an online wallet and a hardware wallet like a Ledger Nano s.

WHY IS RIPPLE KNOWN AS THE CRYPTO FOR BANKS?

Since cryptocurrencies emerged, financial institutions, especially banks, have been skeptical about dealing with digital currencies. In truth, the hesitance stems from the plethora of exchange hacks that have completely enveloped the industry. Banks have been custodians of money for years and the world of cryptocurrency is insecure, unpredictable and so volatile compared to that of fiat currency.

Since Ripple has positioned itself as a service for banks, they seem to have sided with the platform as their cryptocurrency of choice. It has also created useful products such as xCurrent and xRapid which greatly improve the speed, efficiency, and quality of financial transactions

Traditional banking systems are quickly becoming outdated and way too inefficient for the workload they are required to process. This puts a strain on banks who now feel the need to evolve and currently, Ripple seems like their best bet.

All of those factors combined with the fact that it is more stable than most other cryptocurrencies and is backed by a reputable company have endeared it to these financial institutions. The recent price surges are a consequence of this decision by banks to implement Ripple products in their operations.

This also guarantees that the platform has a definitive use case that will enable its long-term progression. Currently, Ripple connects enterprises, banks, exchanges, and payment platforms via RippleNet, with a portfolio of more than 100 banks, including Bank of America. This is why it is exempt from the hesitation of banks.

With the banks solidly behind it, Ripple continues to expand globally. Between 2017 and 2018, the digital currency recorded a huge 36,000% growth and may grow even further by the end of the year.

FINAL THOUGHTS

Mining is a lucrative way for investors of Bitcoin, Litecoin and other cryptocurrencies to receive tokens, enable circulation and secure the network, ensuring its sustenance. Unfortunately, this does not apply to Ripple, which has become a rising star in the world of cryptocurrency. Despite the lack of mining profits, there are other ways to make money on the platform, including trading and lending services. If it were possible to mine XRP, it would possibly end a battle between those who can afford complex equipment and others who cannot. This is a huge issue on the Bitcoin network that Ripple may never have.

Original Post: https://www.mintdice.com/blog/ripple-mining-an-impossible-task?page=8

Augmented Reality and the Future: What You Need to Know

By Glance Creative

It’s apparent to anyone with even a minor interest in technology that new innovations are constantly emerging. While some may be mere fads, others could represent major technological shifts which will impact the world in major ways.

Virtual reality may very well be one of these technologies. However, for people to embrace a new innovation, it’s often important to begin with small steps.

Augmented reality could be a stepping stone that leads to wider use of VR tech in the future. It’s already made a significant impression on the average consumer thanks to the success of apps like Pokemon Go! and Snapchat.

 As more AR-based products become available, consumers will become even more familiar with their potential applications for virtual experiences, leading to greater overall interest in VR.

Understanding AR

AR is essentially VR-light. While VR immerses users in completely virtual worlds, AR superimposes virtual elements onto the real world displayed on a screen. The virtual creatures users try to capture in Pokemon Go! obviously don’t exist in reality, but users can still interact with them via smartphones.

This allows for a more dynamic and immersive gaming experience. For instance, Zombies, Run! gamifies fitness by sending virtual zombies in pursuit of users. They need to run from the zombies as long as possible to “stay alive,” giving people who might otherwise dislike running a reason to exercise. With the work being done by iOS and Android app design agencies, games like these are becoming more prominent as technology progresses.

AR games have also been shown to help users develop their social skills. Anecdotal evidence from users suggests that Pokemon Go! has already helped people with autism spend more time outside with their peers.

These are certainly uplifting stories which demonstrate why AR tech is more than just a novelty. However, gaming is by no means the only industry AR is capable of transforming. Organizations across a wide range of industries have identified potential applications for this tool.

Banks have released AR apps that use virtual elements to guide users to the nearest ATM or branch. Surgeons used AR to “see through” patients’ skin during procedures, boosting accuracy as a result. At manufacturing plants, AR instructions can help employees assemble complex items more safely and efficiently.

As the AR-friendly devices projecting these experiences become more lightweight and available, more professionals will begin to use the technology. This will help people take steps towards embracing VR tech in the long run. That said, as the few examples here demonstrate, AR on its own already has the potential to transform daily life for many people in numerous ways.

"Glance Creative is an app development agency that focuses on psychology to create digital products that make people emotionally drawn to products and brands"

200 FINANCIAL INSTITUTIONS NOW USE RIPPLE XRP

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Blockchain technology has garnered much attention over the last few years from both critics and advocates alike. Put simply, blockchains essentially provide a way for untrusted parties to decide on the state of a database without using an intermediary like a bank. And with global banking being a $134 trillion industry, blockchain technology anddistributed ledger technology could disrupt some of the main services banks provide. These services include:

• Payments. With blockchains, payments can be distributed faster and with lower fees than banks.
• Clearance and Settlement Systems. Reduced operational costs can bring us one step closer to financial institutions conducting transactions in real time.
• Fundraising. Initial Coin Offerings (ICOs) are in the process of testing a new model of financing that allows access to capital from traditional capital-raising firms.
• Loans and Credit. By getting rid of the need for gatekeepers in the loan and credit industry, blockchain technology can improve security measures, making it easier to borrow money securely and deliver lower interest rates.

While the technology hasn’t yet gone fully mainstream, blockchains are already starting to transform everything from payment transactions to how money is made in the private sector. This begs the question—will the traditional banking industry embrace this new phenomenon or reject it entirely?

Bitcoin, a decentralized cryptocurrency devoid of a central bank, is currently at the forefront of this revolution. Often credited as the world’s first digital currency, Bitcoin has established itself as one of the most innovative payment networks in history. But others like Ripple are quickly following suit and emerging as key players in an ever-evolving financial market.

In fact, Ripple recently announced that they have amassed more than 200 clients with 13 new financial institutions signing up for their blockchain-based payment solution RippleNet. These include Euro Exim Bank, SendFriend, JNFX, FTCS, Ahli Bank of Kuwait, and others.

WHAT IS RIPPLENET?

Founded in 2012 and headquartered in San Francisco, CA, Ripple markets itself as a provider of “one frictionless experience to send money globally using the power of blockchain.” Ripple’s CEO, Brad Garlinghouse, recently remarked that 2018 was the company’s best year on record. As published in BTC Manager, RippleNet (Ripple XRP) had gained more than 100 new customers last year, acquiring roughly three new customers each week. They also saw a 350 percent increase in the number of customers sending live payments, and according to Garlinghouse, the company is beginning to see more customers “flip the switch and leverage XRP for on-demand liquidity.” They recently broke their 200-customer threshold on January 8th, 2019.

As it stands, the goal of RippleNet is to facilitate cross-border payments between across its robust network of 200+ banks and payment providers worldwide.

The benefits of RippleNet encompass:

• Accessing a standardized network of institutions worldwide.
• Transact payments in seconds, not days, with instant settlement.
• Get end-to-end visibility into fees, delivery time, and customer information.
• Reduced capital requirements for cross-border payments.

The reality is that the process of moving money to various networks around the world inevitably produces delays and leaves customers dealing with the aftermath of additional fees. The needs of these individuals and businesses sending cross-border payments are changing fast. These customers now expect and demand real-time, low-cost, and wholly trackable payments on a global scale. But today’s payments infrastructure cultivates an experience that is quite the opposite—it’s slow-moving, expensive, and obscure. Utilizing RippleNet’s services allows customers to address and solve these pain points pain points via its sophisticated network of banks and payment providers.

RippleNet was created to solve the inefficiencies related to speed, transparency, and cost. Specifically, the fragmentation of payment processing times and high fees that are passed down to users is a main concern. And customers cannot seemingly keep up with the growing demand for rapid low-cost payments.

RippleNet’s ecosystem can be categorized into two distinct groups:

• Network members (Enablers of RippleNet).
• Banks seeking to process payments for both corporations and consumers. In some cases, the banks could also process payments for and provide liquidity to other banks. These banks would then leverage RippleNet to provide better service to existing customers and boost acquisition.
• Payment providers looking to provide liquidity and increase payout reach for banks to improve their payment volumes.
• Network users (Originators of RippleNet).
• Platform businesses looking to send high volume and low value payouts to a global network of suppliers, merchants, and employees.
• Corporate treasury departments intending to send large disbursements within their global supply chain in hopes of gaining greater capital visibility and control.
• Banks and payments that want to only send payments instead of processing them, to combat the high costs and disorganization of correspondent banking.
• Consumers looking to send payments through their bank or payment provider to yield cost-efficient, real-time results.

WHICH FINANCIAL INSTITUTIONS ARE INVOLVED WITH RIPPLENET?

RippleNet and xRapid are Ripple’s core contributions to the industry. RippleNet allows banks to work together with other participants within the network in ways that significantly reduce costs, while xRapid facilitates liquidity instantly via XRP.

Ripple’s xRapid is now expanding its reach into new markets, aiming to be the next thing that enables faster payment processing and lower costs than the current banking system. However, many of RippleNet’s clients are not using XRP for liquidity, but are directing their interests more towards Ripple’s unique technology platform and modern APIs that allow for faster, lower cost, and more transparent payments.

The XRP community remains hopeful that the Ripple blockchain will be adopted by most financial institutions in the coming years, which could be edging out SWIFT from the cross-border payment/remittance industry.

FINAL THOUGHTS

Presently, the global money market is under quite a bit of pressure in three major areas, including the uncertainty in regulation of financial transactions, a waning interest rate, and the digitization of recent technology.

Banks, in particular, have been rated as one of the most hated institutions. In fact, in Harris Poll’s Annual Corporation Reputation survey, the banking sector was ranked the least loved industry. Research indicated that such disdain stemmed from the perception that most banks often get away with basic financial indiscretions, yet can simultaneously force the public to pay for their wrongdoings any and every time they fail.  

But, luckily, the world is rapidly moving towards an age of true digital advancement. And for traditional banks to remain relevant, they have to adapt. As RippleNet has already demonstrated that it’s a force to be reckoned in the global payments sector, a partnership between the two would seem to be ideal.

The ease of deploying and using RippleNet makes it a viable platform for banks. Technical obstacles could diminish, processing might be faster, and payments could be easily settled.

Original Post: https://www.mintdice.com/blog/200-financial-institutions-now-use-ripple-xrp

WILL BITCOIN CRASH AGAIN IN 2019?

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Bitcoin network was all the rave last year, with its high-profit margins and an influx of new investors. However, it is safe to say that over the span of one year, it has matured considerably. Like Ethereum founder Vitalik Buterin told CNBC, the future of Bitcoin may never have as much hype as it did in 2017 because so many people are now aware of cryptocurrency and how it works.

A lot of things have changed in the cryptocurrency sector since over-the-top forecasts were made in 2017, including a $160,000 price estimation for Bitcoin. One of such changes is the introduction of Bitcoin Futures which control the price of BTC by allowing large investors to exert pressure on it.

This means that predictions of large price values like the one above are unlikely to be met in the near future. Another change is the start of Bitcoin institutional investing. For example, both the Bakkt and the Nasdaq platforms claim to be open to offering cryptocurrency investing to institutions.

While stakeholders struggle to keep the BTC price at bay, one daunting question still looms: Will Bitcoin crash again in 2019 or will it peak and stabilize at a better price point than it currently has?

WHAT DOES THE FUTURE LOOK LIKE?

The last major cryptocurrency crash which followed the December 2017 peak brought about a need for an evolution in Bitcoin investment. Where Ethereum had ICOs as a new way to pour funds into the digital currency industry, Bitcoin lacked one.

Soon, virtual currency industry experts like the Winklevoss twins started looking towards exchange-traded funds (ETFs) to create long-term sustenance of Bitcoin as an investment vehicle. Unfortunately, these ETFs cannot function without approval from the Securities and Exchange Commission, so the industry is at a crossroads: evolve and survive, or continue at the same pace and end in a bubble burst.

AN EMPHASIS ON NON-PHYSICAL BITCOIN ETFS

An exchange-traded fund is a security that tracks underlying real-world assets like gold, equities, oil, bonds, commodities or cryptocurrency. It allows investors to buy into it and earn dividends from their investment. Such shares are easy to trade like stocks and can get rid of any barriers faced by investors when trying to purchase those underlying assets themselves.

The submitted ETFs proposals describe funds that are primarily derivatives. They can be shorted or coordinated with a Bitcoin future. Only physical Bitcoin ETFs are currently a good fit for the Bitcoin market since derivatives bring about the unfavorable market to another state.

Bitcoin exchange-traded funds have been in the headlines lately, mostly for their rejections. Just recently, theWinklevoss twins faced a rejection of their own. This has not deterred other parties who are bent on seeing this new form of investment come to life.

Unfortunately, the SEC is building up quite a track record of rejections with a toll of up to 15 rejected Bitcoin ETFproposals since 2013.  

BITCOIN PRICE FORECAST VS. BITCOIN USAGE     

One major factor to consider when looking at the possibility of another crash is the adoption rate of Bitcoin. Currently, ownership is still quite low, only a few points higher than last year. This implies stagnation and also that investors have found other coins which they deem more competitive. The younger generation is generally more bullish on Bitcoin usage since they consider it a product of their age, but the older generation remains skeptical.

However, this brief stagnation does not prove that Bitcoin blockchain will crash. If anything, the introduction of Futures and the demand for ETFs make up for it and shows that Bitcoin is here to stay.

It also shows that users are serious about integrating it into their daily transactions, which may eventually save the pioneer digital currency.  

The introduction of stable coins like tether and application-tolerant platforms like Ethereum and EOS have given Bitcoin a serious run for its money. The high price point, which has been Bitcoin’s most attractive feature in the past has also turned out to be its Achilles’ heel.

Percentage increases in profit are simply not as good as those in cryptocurrencies with lower prices. For example, a user who buys $2000 worth of XRP at $0.3 can afford to purchase 6666 tokens while the same amount will only purchase about 0.3 BTC at $6000 per unit. While XRP can easily rise by 100% to $0.6, it will take a lot more for BTC to hit $12,000. This makes it more profitable to buy into smaller cryptocurrencies.

But what about the earlier forecasts of Bitcoin? How do they tie in with this new usage information? Simple, they do not. Several forecasts were made with assumptions of an ideal situation in which adoption would progress quickly and at a steady rate. Some of these forecasts have been revisited, with extended timelines that seem more realistic in light of Bitcoin’s recent performance.

WHAT ARE THE BITCOIN PRICE PREDICTIONS FOR 2019 AND 2020?

The recent issues faced by Bitcoin have not stopped industry figures from making future predictions about its price. Industry predictions generally fall between $25,000-$29,000 as a realistic price point for Bitcoin.

This is especially because it has been trending in its transition band, in which it will trade most of the time, since May 2018. This signifies an imminent major bull run in the cryptocurrency industry.

Some other significant Bitcoin price predictions for 2019 include:

• $28,000 by the end of 2019, according to Ronnie Moas, crypto bull and founder of Standpoint Research, in a report published by Cointelegraph.
• $36,000 by the end of 2019, according to Sam Doctor, Quantamental Strategist at Fundstrat Global Advisors, who based his prediction on the historical average 1.8x P/BE multiple.
• $25,000 according to Thomas Lee, Co-Founder and Head of Research at Fundstrat Global Advisors
• $1 million, according to John McAfee, Founder of McAfee Associates, who earlier predicted a $500,000 price point before modifying it. McAfee claims that he used the same model which was used to predict $5000 at the end of 2017.
• $10,000-$100,000 in the next 5 years, according to Joe DiPasquale, CEO of BitBull Capital.
• $10,000 by the end of 2020 according to Fred Schebesta, Co-Founder and CEO of Finder.
• $61,900 by the end of 2020 according to Bobby Ullery, CTO of Waysay who also predicted a shared market capitalization of $4.5 trillion between Ethereum and Bitcoin.
• $30,000 by the end of 2020, according to Matias Dorta, Founder of ICO Informer, who also sees several countries adopting Bitcoin as a reserve currency by 2030.
• $30,000 by the end of 2020, according to Craig Russo, Co-founder of sludgefeed.com
• $75,000 by the end of 2020 and a market capitalization of $1.3 trillion, according to Brandon Quittem, a cryptocurrency analyst & writer.

FINAL THOUGHTS

Due to all the factors discussed above, including pending ETF proposals, stagnation, the introduction of Bitcoin futures and the competition among cryptocurrencies, it is difficult to say whether Bitcoin will indeed crash again in 2019. Considering its current performance, the leading virtual currency is at a point where it could either crash again or blossom into a widely accepted medium of exchange and investment.

As with almost everything else in this relatively new industry, the future of Bitcoin is shrouded in unpredictability and falls heavily in the hands of investors and regulators. However, there is no denying that Bitcoin is evolving every day as more people become exposed to it, including those who are not direct users.

Original Post: https://www.mintdice.com/blog/will-bitcoin-crash-again-in-2019

What Is Marketing Automation?

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Eliminate repetitive tasks so you can focus on other parts of your business.

With Mailchimp’s marketing automation tools, you can send the right message to the right people at the right time. It’s like having a second brain for your business.

Marketing Automation Defined

Marketing automation helps you stay connected with your audience (and find more people just like them), so you can eliminate repetitive tasks and focus on other parts of your business. Target people based on behavior, preferences, and previous sales—and use this intel to do things like welcome new subscribers, reach out to people who abandon their online shopping carts, and win back lapsed customers—automatically.

How Does Marketing Automation Help?

Build your brand

Promote your business and grow your audience with Facebook and Instagram adcampaigns that help you reach people who are similar to your best customers.

Connect with your new contacts

Make a powerful first impression. Show customers, students, or volunteers everything you have to offer by setting up an onboarding series. Let people know you’re thinking about them by creating an annual ‘Happy Birthday’ email. Or, simply extend a warm welcome to new contacts.

Sell more stuff

Put your purchase data to work for you. Connect your e-commerce store with Mailchimp to improve the shopping experience for your customers and generate more revenue.

• Turn website visitors into customers - Bring potential customers back to your site with ads that automatically display at the moment they’re ready to buy.
• Recover abandoned carts - Recapture sales by reminding customers what they’ve left behind and encourage them to complete their purchase.
• Customize order notifications - Design beautiful, personalized order notificationsthat match your branding and recommend related products.
• Follow up on purchases - Ask for feedback, send a quick survey, or provide customers with helpful information—like usage or care instructions—after they make a purchase.
• Personalize product recommendations - Suggest items your customers will love with product recommendations tailored to their purchase history.

Boost loyalty

Nurture lasting relationships by showing customers you appreciate their support. Marketing automation helps you reach out to first-time shoppers to thank them for their patronage. Or, reward your top spenders with discounts triggered by their shopping behavior.

Win people back

Re-engage lapsed customers or inactive subscribers by creating a win-back email series or targeted ad campaign.

Customize, test, and repeat

With Mailchimp, you can create the perfect automation for any situation. Provide educational resources to get new contacts acclimated with your organization or products. Share blog updates from your RSS feed, so your audience never misses out. Remind people to renew their membership and reward your top supporters. Or, build your own custom automations with triggers and send times that meet the unique needs of your business.

“Mailchimp has essentially been our 6th man, and we’re only a team of 3. It’s allowed us to reach our customers (without having to do it manually) and to customize everything so it feels intimate and personal.”

Reggie Thomas, owner of Pinship

Original Post: https://mailchimp.com/marketing-automation/