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Messages - VeryWellDone

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News related to Crypto / Re: Expert Insights on the Asian Crypto Market Amidst Pandemic

« on: July 25, 2020, 11:07:13 PM »

Very good insights on the market during this pandemic, and its great to see the crypto community being very alive because of all the price pumps that's happening right now.

Its just not crypto who is exploding now, even blockchain's usage itself are being adopted by more people as we go along. Just saw a CBD and Wine company using a blockchain for business by NEM for traceability and fraud avoidance. Things are really getting exciting during this digital era.

News related to Crypto / Re: Bitcoin Rally in Danger? Wall Street Veterans Warn of Nasdaq Bubble

« on: July 25, 2020, 11:02:51 PM »

I honestly don't think so. Crypto and BTC price should not be related to stocks nor gold, though there are historical analysis of it, it should not run that way.

I'd rather worry with how the charts go inside crypto and not compare it to stocks. ETH just broke out of the $300 mark and there are a lot of exciting coins coming out that will help profit-wise. An example is Symbol from NEM that will have its own 1:1 airdrop for every XEM you hold. These things will keep pumping my bag.

Cryptocurrency discussions / Re: NEM (XEM) Marks Improvement Amidst Volatility

« on: July 25, 2020, 07:05:44 PM »

Quote from: Rollinginthedeep on July 25, 2020, 04:17:55 PM

NEM/XEM is still maintaining its position to the top 50. Buy more if you think that you've got to support NEM and it's still active as before. If that symbol you are telling is going to be their next thing. I have nothing to say with that as most of the projects are building their next trend so that the community will still support them and won't leave them behind. That's what the projects are doing lately but I think for established ones like NEM, they are far to worry for that scene.

That's what I'm thinking of too. NEM is already established and their new token will most likely succeed too.

Cryptocurrency discussions / NEM (XEM) Marks Improvement Amidst Volatility

« on: July 25, 2020, 03:52:10 PM »

NEM coin’s recent market momentum has astounded many in the market. The currency has been holding the current position strong from over a couple of days and looks like it might continue the same. The heavy pick and drop might affect the coin but not substantially.

According to recent news, NEM has invested in SharpShark. The company is a Symbol-powered time-stamping service provider that protects the creator(s)’ copyrights. SharpShark also allows the tokenization and transfer of intellectual property along with the auto-monitoring of violations.

SharpShark aims to diagnose plagiarism, remove copyright infringement to give users complete control over their respective creations. Ultimately, the service allows the users to experience an equitable decentralized option for safeguarding intellectual property.

As for their upcoming platform Symbol from NEM they have enabled "to" exchanges for $XEM. It means, now you can swap $XEM with 96 different coins in both ways.

Is NEM one of the good coins to hold during this altseason? And should we buy more?

News related to Crypto / Re: YouTube: We’re Not Liable for Crypto Scams

« on: July 22, 2020, 08:29:47 AM »

that's crazy, they should block it atleast.

News related to Crypto / Re: Kazakhstan Needs National Crypto to Fight Corruption, Says Local Official

« on: July 22, 2020, 08:27:30 AM »

Crypto/Blockchain is indeed the safe haven for most of these groups that are trying to fight cybercrime, fraud, or even corruption itself. The fact that the data inside blockchain cannot be tampered is key to solving this. An example is Symbol from NEM that solves wine-fraud by providing traceability. If a lot of industries adopt them, it will boost up their upcoming token's price.

Bottom line is that its either they see us as a "threat" with their business, or a simple fraud which they haven't tried themselves.

This should change their mindset that we're here to stay, in a positive way.

Cryptocurrency discussions / Re: Future of blockchain-based enterprises: Community-led public chain with a plugga

« on: July 20, 2020, 03:28:07 PM »

Quote from: Rollinginthedeep on July 20, 2020, 03:03:21 PM

One of the things that hinder businesses and major corporations to start using blockchain technology is the integration part. Even on the crypto side, these cryptocurrencies are unable to handle a large number of transactions in a fast and efficient way. Visa is handling from 2000 to 4000 transactions per second, PayPal - close to 450 transactions per second. While crypto has lower figures in that department.

The newly launched Symbol network will launch to create public-private hybrid deployment by syncing with the NIS1 publish chain. While Symbol, the enterprise-ready network, will function as the private plugin, the community-led and -validated NIS1 chain will operate as an ever-strong public network.

Will this pluggable private network/blockchain attract more businesses to enter the blockchain space?

- https://www.hindustantimes.com/brand-post/future-of-blockchain-based-enterprises-community-led-public-chain-with-a-pluggable-private-network/story-idfsdyGYDs5bZdqxC3wNsM.html

I'd say the easier the more likely that these big players will start using blockchain. I think what they're doing is to create a public-private hybrid deployment by syncing with the existing NIS1 publish chain.

Cryptocurrency discussions / Re: Blockchain technology preventing fraud products.

« on: July 19, 2020, 01:44:36 PM »

Quote from: P_Jay39 on July 19, 2020, 01:36:27 PM

Quote from: VeryWellDone on July 19, 2020, 01:27:44 PM
Very interesting that they can maintain their branding/app name and still use all the benefits of Symbol too.
https://symbolplatform.com/latest/a-deep-dive-into-businesses-using-symbol-luxtag

If Symbol can maintain this flexibility where people can integrate the APIs from Symbol into their existing system flawlessly, then this is very valuable to everyone.

Even for the Symbol token as well, it will definitely bump up their prices, knowing that they're already being used everywhere.

Cryptocurrency discussions / Blockchain technology preventing fraud products.

« on: July 19, 2020, 01:27:44 PM »

Has anyone tried using blockchain tech to check a tangible product's traceability and how is it effective?

I've honestly haven't tried one yet but I do believe that blockchain can excel in that area, considering that no one can just fake things here. LuxTag does that for tangible products to make sure that it's legit and they are using Symbol blockchain to keep things streamlined and cost-effective. Very interesting that they can maintain their branding/app name and still use all the benefits of Symbol too.
https://symbolplatform.com/latest/a-deep-dive-into-businesses-using-symbol-luxtag

Can this be applied to ALL industries? Ecommerce, Food, Jewelry, etc.?

News related to Crypto / Re: Japan’s Largest Financial Firm Plans To Issue Its Digital Currency In 2020

« on: July 18, 2020, 02:50:56 PM »

Wow even Japan! I also saw Lithuania kinda trying to do the same thing. To celebrate the Act of Independence, the Bank of Lithuania, through LBCoin, is issuing 24,000 blockchain-based digital tokens and 4,000 physical silver collector coins. That's all using NEM's Symbol blockchain.

News related to Crypto / Re: Russian Cybercrime Surged 25x in 5 Years, Says Local AG

« on: July 18, 2020, 02:47:36 PM »

This is why the implementation of blockchain technology should be implemented, more countries are realizing it now and Russia should too.

An example is a wine company that uses NEM's Symbol blockchain that eliminates fraud and ensuring the authenticity of fine wine throughout the supply chain.

All these cybercrimes and fraud can be prevented by blockchain.

Cryptocurrency discussions / Re: High profile accounts on twitter Hacked

« on: July 18, 2020, 02:08:16 PM »

Over 300 transactions, its crazy to see how people are still being lured into scams in the crypto space.

Cryptocurrency discussions / Re: How effective can blockchain be in healthcare during this pandemic?

« on: July 18, 2020, 01:44:31 PM »

Quote from: P_Jay39 on July 18, 2020, 01:43:26 PM

It can be very useful, imagine the speed and all other benefits that people can get from blockchain,, it will be very useful, even cost-wise

If Symbol becomes successful in the healthcare sector, then their token will surely gain value. I imagine hospital records that are still operating in paper is still huge, they can speed everything up and secure data with the help of blockchain technology.

Cryptocurrency discussions / How effective can blockchain be in healthcare during this pandemic?

« on: July 16, 2020, 11:12:54 AM »

We can only imagine how hard it is for statisticians to keep track of all that's happening in the world right now, COVID, and other diseases slowly growing in different countries. During these crazy times, how can blockchain help and be beneficial?

For Symbol, their enhanced security could allow healthcare providers to run secure, decentralized databases. Furthermore, considering that data is a critical asset in the healthcare industry, the use of blockchain technology could be very useful for the sector.

Is this something that hospitals, health centers, governments should take a look into? Especially that this virus can stay with us for 1~2 more years.

Cryptocurrency discussions / Re: Bank of Lithuania's making the world’s first digital collector coin using NEM

« on: July 14, 2020, 03:40:40 PM »

Quote from: P_Jay39 on July 14, 2020, 03:33:05 PM

Quote from: Rollinginthedeep on July 14, 2020, 03:28:31 PM
Great news for adoption overall. This move from the Bank of Lithuania is yet another step towards implementing one of the Bank of Lithuania’s strategic directions in the field of innovation and fintech. And even better, using cryptocurrency as a concept, and Symbol blockchain. Knowing that their coin will be used not just here, but even on other spaces will truly reflect on its value once it launches.

What will be the use of their LBcoin though?

I think once you own one, collectors will get six randomly selected digital tokens that will be available for storage in a dedicated wallet at the LBCOIN e-shop. They could also be used as a gift, exchanged with other collectors, transferred to a public NEM wallet, and later be used to redeem a physical silver coin.

Atleast we're seeing an effort from a bank itself doing an exchange from crypto to actual fiat.