Category: Blockchain

Cryptocurrency Tokenomics

Understanding the economics of the blockchain.


Previously we have discussed the characteristics of Good Money and the reasons that Cryptocurrency could be considered Good Money.

The value of a cryptocurrency is derived from what has been coined, its ‘Tokenomics’. A portmanteau of the words ‘Token’ and ‘Economics’.

The tokenomics of a cryptocurrency consists of a large range of inputs, all of which impact its value in the decentralised market place. Inputs with respect to the characteristics of Good Money include:

  • Number of tokens in existence – Scarcity.
  • Energy inputs into token creation – Difficult to create.
  • Number of users / transaction frequency / future use potential – General Acceptability.
  • Security of chain and code – Indestructibility.
  • Level of annual token inflation – Scarcity.
  • Level of decentralisation – Trustless (level of third party risk).
  • Wallets and associated infrastructure – Portability / General Acceptability.
  • Quality of the development team who are driving the use cases and chain growth – General Acceptability.

For various reasons blockchain will change their tokenomics and in these cases, you, the Financially Awakened – will sit down and work through the changes.

Increasing inflation will place downward pressure on token prices. Burning tokens on the other hand, (permanently removing tokens from circulation), will have the effect of increasing the price of the remaining tokens.

Let’s take a look at a current scenario – the Taurion Burn Sale.



Last night we examined the proposed tokenomics changes for the XAYA blockchain in a Goldsmith Money YouTube review. Embed below.

Whilst it is not possible to put an exact price on a token, now or in the future – it is possible to get an understanding on how different stakeholders will be impacted and the possible directions the token prices might take – ceteris paribus (all other things being equal).

Enjoy the video. And if you feel you would like to discuss the matter of blockchain tokenomicsl or, the XAYA Taurion Burn Sale – please drop a comment below. You can also read more about the Taurion Burn Sale here.

Otherwise, warm up those gaming chairs, because things are about to get rather hectic in the blockchain gaming space. Final testing on Taurion and Soccer Manager Elite is merely days away – and then human mining will begin.

Be well.


GOLDSMITH.



Become your own bank –

from your home PC!


Who says you need to be reliant on the banks?

Since the invention of the Bitcoin, people have had the ability to be their own bank – without the need to rely on any third party.

It’s a giant, trustless, decentralised spreadsheet – and you hold the key. At least you do when you establish a cryptocurrency wallet on your PC or smartphone.

Using your cryptocurrency wallet you may be able exchange goods and services directly with like minded individuals from across the globe – 24 hours a day and 7 days a week.


Introducing – XAYA Electron Gaming Wallet

Electron – for all your XAYA gaming needs

In the latest Goldsmith Money YouTube video (embed below), we take a whimsical look at the XAYA Electron wallet. Fast, stylish and completely decentralised.

And when Electron is running on your PC. you are actually contributing power (hash power) to the operations of this whole new financial ecosystem. All outside of traditional banking infrastructure.



We have a preference for XAYA over most other blockchains because of its specialised blockchain gaming design. You however, can start looking at cryptocurrencies wallets for any blockchain of your choosing. The point we make is – start looking!

The blockchain and cryptocurrency industry is filled with financial opportunities for the Financial Awakened. And your first step into this industry… a digital wallet!

Happy transfers.

GOLDSMITH




It’s blockchain gaming…

and early interest is high!


There are very few industries that we are more passionate about than blockchain gaming. The growth of esports has been remarkable. Blockchain gaming is merely the next step in its evolution.

Despite our confidence in the industry however, we were still surprised by recent registration numbers reported by the XAYA blockchain team. Over 12,000 people have signed up to participate in their Soccer Manager Elite (SME) phase III beta test. To have 12,000 sign up to simply test the software really is extraordinary.

SME beta test resumes this week.


Should 12,000 to signup for the main game – financial success for the game and the XAYA blockchain looks set. Though there are never any guarantees in business.

To share in the registration excitement, we produced our own (somewhat comical) YouTube report – embedded below.



People will naturally migrate to blockchain gaming as it offers the ability to ‘play to earn‘. And who doesn’t want to earn currency playing games?

Credit where credit is due though. The XAYA team has proven to be ‘A Grade marketers’ of their ‘first class products‘. Two reasons we watch this team and this blockchain – very closely.

As with the initial beta tests, we will be live streaming some of our SME game play. So if you want to learn more about the game – subscribe to the Goldsmith Money YouTube channel and join us on our journey.

Enjoy the remainder of your weekend.

GOLDSMITH

Appics

Beautiful social media on the blockchain


Here at Goldsmith Money we often spout the benefits of blockchain technology for the gaming industry. The trustless and decentralised ledger is perfect for the creation of massive gaming ecosystems, with financial opportunities galore.

The same may also be said for social media. Whilst Twitter and Facebook generally offer users indirect financial benefits through the promotion of their goods and services. They offer very little in the way of direct financial benefits to the true influencers and content creators on their platforms.

Introducing Appics

Appics joins the Telos blockchain – August 2020

When built upon a blockchain, social media platforms are able to rely upon the exact same decentralised ledger attributes – trustless, auditable, infallible, cost effective – to develop their own financial ecosystem. This blockchain foundation then allows for community trust in the platform and builds value within.

In building a valuable ecosystem, the blockchain social media platform is now able to distribute system earnings directly to the creators, influencers and community builders, based on their level of contribution.

The rewards will usually take the form of the native token to the platform. The value of the tokens will then be determined by the free market, through cryptocurrency exchange participants. The value will of course fluctuate. Over time however, consistent, good quality content creators, may be able to build a reliable income stream for themselves.

Appics…

is a sleek and beautiful reward based social media platform built upon the blockchain for the reasons mentioned.


Appics is not the first social media platform built upon a blockchain. However in our opinion, it is the first built to a speed, aesthetic quality and functionality high enough to take on the mainstream players for usability. And ultimately it is usability which will determine whether it is suitable for mainstream adoption.

A blockchain based social media platform will only ever be as good as the blockchain it is built upon. So it was no surprise for us to see Appics announce that they would be moving to the Telos blockchain.

Telos is arguably the fastest, most powerful and most decentralised blockchain in the world. It is also one of only a very few blockchains with built-in governance solutions. Telos has a huge technical support network, which has just recently built social media functionality into the chain itself. A testament to their capabilities.

Of course when it comes to Telos, Goldsmith Money is a token holder and highly biased as to its quality. Make no mistake however, the merger of these two platforms is most certainly value accretive for both.

So we are thrilled to bare witness to the merger and welcome Appics with open arms. See our greetings message here.



Over the next 6-8 weeks we will look to incorporate Appics into our social media tool kit, utilising this platform to build our brand and our income potential.

A consistent theme throughout Goldsmith Money is ‘Trends’. Whilst the trend into blockchain gaming is unmistakable at present, when it comes to social media, the signs are much more subtle.

What we are seeing is people now willing to move away from from the major platforms like Facebook and Twitter and into other centralised platforms such a Parler. Will this carry into Appics – only time will tell.

Something to look out for though are the celebrities. Where the celebrities go, the masses tend to follow. Should a celebrity or two turn up on Appics – mass adoption could follow shortly thereafter.

Finally – if you are still reading this article, I deem you to be one of the Financial Awakened. And as one of the Financial Awakened, you should be always questioning where you are spending your social media time and efforts. Time is money afterall.

Ask yourself, ‘do I continue investing my valuable time into Facebook and Twitter, building value for their shareholders?’

Or, ‘should I consider building value in my own brand, in conjunction with the brands of others – within a rewards focussed decentralised community?’

Money talks ladies and gentlemen – everything else is mere garble.

You can learn more about the Appics at their website here; and, I hope to see you there soon.

GOLDSMITH.

Taurion

Alpha Test Deep Dive – abridged


With over 1,500 people registered to participate in the upcoming Taurion alpha Test, the demand for information is huge. As such XAYA CEO, Andrew Colosimo, took up his gaming chair once again, to provide the world with a deep dive walk through.

Naturally the excitement around Taurion is enormous! It is the first of its kind!! A true decentralised and trustless gaming ecosystem, with opportunities galore.

Trade, transport, mining, refining, manufacture, construction, marketing and security… collusion, racketeering and piracy. Basically any other type of business venture you can dream up, could very well be possible at the planet Taurion.

Should you not have the time to watch the full one hour deep dive, we have produced a 15 minute video detailing the key takeaways. Abridged video below.



If you are interested in joining this alpha test and getting a taste for this NEW era of blockchain gaming – please click on our Goldsmith Money invite link Taurion Alpha Test Invite

This alpha test is a treasure hunt and there is over $US10,000 in prizes to be won!

We hope to see you there for the start of play on Tuesday, 25 August 2020.

Wish to learn more about the benefits of blockchain gaming – please see link below.

Be well friends.

GOLDSMITH


XAYA update

Soccer Manager Elite and Tarion Updates


Be sure to subscribe to the Goldsmith Money YouTube channel to stay up-to-date with all that is happening in blockchain gaming – especially XAYA!

In last night’s report (below), we discuss the progress of the Soccer Manager Elite beta test – with Phase 3 to commence next week.

The big news however… is Taurion. The official launch date for the much anticipated alpha test is Tuesday 25 August 2020. This alpha test / treasure hunt will run until Sunday 9 October 2020 and there are many hundreds of prizes to be won – all up valued at over $10,000.


Goldsmith Money – Xaya Report 6 August 2020

Should you wish to participate in Taurion Treasure Hunt, please click on the following referrer invitation link and sign up. There have been 1,500 registrations so far… and the more the merrier. INVITE


Looking for more information on Taurion?

Check out Andrew Colosimo’s recent deep dive into this massive NEW decentralised virtual reality.



Our CHI Giveaway

Don’t forget Goldsmith Money is giving away 1,500 CHI to Taurion fans. Want to be involved? Just click on the link below and follow the instructions.

https://goldsmith.money/innovation-and-technology/taurion-alpha/

Be well Xayan friends.

GOLDSMITH.

Farm Game / Dota 2

Connecting the Steam gaming platform with the Telos blockchain


Blockchain gaming is moving forward in leaps and bounds – and Telos is sure to have a big role to play in this.

Farm Game has opened up a world of opportunity for gamers, linking all the benefits of blockchains (decentralised and trustless financial ecosystems), with the massive Steam gaming universe.

Starting with the multiplayer, online battle arena video game Dota 2, Telos will allow gamers compete with one another for decentralised tokens and assets. Subsequently these assets may be transferred, spent or otherwise – instantaneously and globally.

Whilst still at early stages of integration, Farm Game offers a great taste of gaming developments to come.

For further information, check out the Goldsmith Money YouTube video below.

And if you are interested in connecting to Farm Game to play in the Dota 2 Telos events – please use the following invite link. PC only at this time.

https://dapp.farm.game/ref/cryptowombat

Happy gaming.

Goldsmith.


Telos, Farm Game and Dota 2 – 3 August 2020

Taurion Treasure Hunt

A treasure trove of intergalactic proportions.


To say the team at Goldsmith Money was ‘excited’ about the upcoming Taurion Treasure Hunt – would be a mammoth understatement.

Aside from the game looking awesome and thousands of dollars worth of prizes to be won. This is the final Taurion test before it goes live to the world. The Alpha Test.

This is likely our final chance to get a simple the feel for this new global, trustless and decentralised gaming economy – which promises to open up a whole new world of player driven opportunity and entertainment.

Taurion Treasure Hunt – only days away


https://taurion.io/treasure-hunt-3/

Yes – we have our new gaming PC ready to go – 32GB RAM; ASUS RT2060 8GB Graphics Card; a couple of ASUS 27″ Gaming Monitors and a new webcam. Far more than is actually needed to play.

Yes – there will be plenty of Taurion Alpha Test videos. There will also be plenty of Alpha Test live streaming – both YouTube and Twitch. But all this is hardly important to Goldsmith Money. The only thing that really matters is of course…

The Treasure

With more sponsors than the Italian Grand Prix, the Taurion Treasure Hunt promises to be bigger than Ben Hur.

The Prize Partners

  • Age of Rust
  • Battle Racers
  • Cartesi
  • Chain Clash
  • Coin’s E-Den
  • Crypto Dynasty
  • Crypto Space Commander
  • Decimated
  • Dissolution
  • Drug Wars
  • Ethernal
  • F1 Deltatime
  • Gamerhash
  • MakerDAO
  • Neon District
  • Nine Chronicles
  • Polyient Games
  • Reality Clash
  • Soccer Manager Elite
  • Splinterlands
  • The Six Dragons
  • Uptrennd
  • Xaya / Ubisoft Lab
  • Xaya
  • Zenzo

And the list of prizes is just huge… super HUGE! Too many to report on here – just click on the prize link and see for yourself.

https://taurion.io/prize-partners/

So many great prizes to be won and Goldsmith Money plans on winning many of them. And we are not afraid to get our hands dirty to do it. Raid, plunder, loot, steal, destroy. All is fair in the resource rich, yet desolate alien planet of Taurion.

So what does Taurion look like?

Well just recently the following video began circulating within the Twitter sphere…

TAURION: The 3 Starter Cities are now “safe areas”. Opposing factions may not enter. Speed of vehicles are 3x faster than normal.

Make sure to register to claim a FREE starter pack (5 free units and an account) so you can help test and WIN.

Originally tweeted by XAYA (@XAYA_tech) on 16 July 2020.

Yes there will be ‘safe spaces’ for the faint of heart. Goldsmith Money doesn’t plan on spending too much time here though. Instead we plan on being out hunting for the prizes. I dare say the only time we will be returning to said ‘safe spaces,’ is to claim our many, many prizes.

Want to be a part of the Taurion Alpha Test Treasure Hunt?

Just click on this Goldsmith Money INVITE LINK and claim your free Taurion Starter Pack.

Hope to see you there!

Oh – and one more thing. Just in case you have not yet Pledged Your Allegiance. Think BLUE!

Aligning yourself with us, might just save you a whole lot of heartbreak.

Peace…… for now.

Goldsmith


Learn more about Blockchain Gaming here.

https://goldsmith.money/innovation-and-technology/blockchain-gaming/

Blockchain: It’s just a spreadsheet.

Well it is – and this is what makes it so special.


A group of us were discussing blockchain technology, when one member of our party dropped a bomb into the conversation…

I don’t see what all the fuss is about… blockchain – it’s just a spreadsheet.

Well you could have heard a pin drop. It’s just a spreadsheet! Just a spreadsheet!?

We were dumbfounded. How could our hopes and dreams of a new and liberated financial system be crushed by this simple throwaway line? It was time to do some soul searching.


Photo by Pixabay on Pexels.com

There would be very few in the blockchain space who would refer to this technology as ‘just a spreadsheet’. Regardless though, our friend was correct – blockchain is ‘just a spreadsheet’.

So why are we all so captivated by blockchain and cryptocurrencies; and, why has Bitcoin captured the imagination of libertarians the world over? Then the answer occurred to me – ‘It’s a spreadsheet’.

Though to truly understand this answer – I need to first understand the enormous importance of the spreadsheet’

The marvellous spreadsheet

“Whatever you think of the spreadsheet, don’t dismiss it as trivial.”

— Mike James, “Spreadsheets are special

A spreadsheet is simple and functional in design – horizontal rows crossing vertical columns and where the two meet, a single cell is born. Beautiful! And into the newly born cell the author may attribute anything they like. A person, a place, an asset, a liability, a balance.

Spreadsheets have not always looked the way that do now, spanning the width and height of a computer monitor. No – before Microsoft Excel there was IBM’s Lotus. Before Lotus there were paper spreadsheets, often referred to as worksheets or accounting worksheets.

Worksheets themselves have been used for many hundreds of years. It is known that in 1494, the first book about double-entry transaction recording was published by Luca Pacioli – and this gave birth to what we now call Accounting. Pacioli did not invent ‘Accounting’ as such, he merely detailed the manner in which the merchants of Venice would record their business transactions on worksheets, these pages combined into journals.

Prior to this there have been records uncovered of transactions inscribed on ancient timber, stone and clay tablets recording inventories, barter trades, assets and liabilities – again early forms of spreadsheets.

So the spreadsheet has been around for a very, very long time. Over this time it has served mankind very well. These spreadsheets were records of financial transactions and asset ownership. They enabled free market trade to flourish.

There was one proviso in all of this however – you had to TRUST the person who administered the spreadsheet. And many a war, both internal and external, has been fought for the right to administer the spreadsheet. Whilst currency wars are outside the scope of this blog post – know that those who control the spreadsheets, control the economy.


The days of stone tablets and accounting worksheet are long gone. Banks, Central Banks, Exchanges and Governments around the world maintain massive computerised spreadsheets, journals and ledgers, which record asset ownership, liabilities and transactions.

However, spreadsheets are not just being used for currency control. The combination of spreadsheets affects every aspect of our life now – business management tools, logistics, manufacturing, supply chain distribution, engineering, client management systems, social media and basically all computer based software. At the heart of all computer software – is a spreadsheet.

A computer based game – again, at its heart is a spreadsheet. Recording moves, points accrued, levels gained; plus, setting the rules of the game, along with running the algorithms which control the artificial opponents.

Computerised information databases – again at their core – a spreadsheet.

So… ‘just a spreadsheet!’ There is no ‘just a spreadsheet.’


Spreadsheets are everywhere. Spreadsheets are in nearly every modern technology. Spreadsheets are ‘spectacular!’

Regardless however of how important spreadsheets are, both historically and at present – the issue of TRUST remains.

Until now – ownership and control of spreadsheets has be centralised. One entity would own and administer the spreadsheet and could do with it as they pleased (at least as far as laws would permit). Create new assets. Create new liabilities. Transact on accounts. Create new currency, diluting the value of the old.

Then along came blockchain. Beautiful decentralised spreadsheets capable of doing everything a centralised spreadsheet can do. Yet running on servers around the world, simultaneously. Allowing for worldwide collaboration, new financial markets and new economies, with no single point of failure. Trustless. Instantaneous. International. Belonging to no one and yet… belonging to everyone.

Blockchains are not just spreadsheets – they are amazing spreadsheets. Journals and ledgers born out of cryptography, the internet and an untamable human spirit.

Blockchains are not just spreadsheets – they represent liberty and freedom. Well… they might one day. Watch this space.

GOLDSMITH


References

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2320658

https://www.i-programmer.info/professional-programmer/i-programmer/1452-spreadsheets-are-special.html

Taurion Teaser Trailer

A complete cinematic experience


The financial world is quickly awakening to blockchain gaming. More specifically, the roles that these decentralised, trustless and provably fair virtual economies will play in relation to our entertainment, social interaction, recreation and trade in the near future.

There is one blockchain however which is really setting the benchmark with respect to this new gaming phenomenon – a relatively unknown blockchain called XAYA.

Now it should be mentioned that Goldsmith Money did in fact stumble upon the XAYA team a few years back and we were suitably impressed. We did decide to invest monies accordingly, so we are not exactly unbiased in our assessment. Regardless, we were thrilled with the much anticipated Taurion Teaser Trailer, released less than 48 hours ago.


Many of us have been watching this true blockchain game develop over the past 18 months, bearing witness to an evolution. The new teaser trailer however, takes this association to a whole new level.

Through the trailer we are first introduced to this dangerous and arid planet via a view from space. From here the trailer pans into the vast, windswept dunes and razor sharp rocky outcrops.

Next comes an introduction to a solitary scout vehicle belonging to the Reubo House, one of three civilizations of Earth descendants, looking to establish themselves upon this harsh, yet plentiful world.

Shortly thereafter – the battle charge begins. Houses Ethrati and Jodon launch a simultaneous attack upon a Reubo outpost and the result is devastating.

In this 1 minute 30 second cinematic trailer, the XAYA team have managed to capture the full essence of Taurion – hostile and urgent; voilent yet rewarding; dangerous yet plentiful. The rewards for those who survive could be huge! If you survive that is.

Goldsmith Money has prepared a review of Taurion Teaser Trailer, included here for your viewing pleasure. Keep in mind however, the trailer itself may not be suitable for young children.

Congratulations to the XAYA team for bringing the planet Taurion to life in such a dramatic manner.

The next Taurion beta test begins in July and this is open to all, with prizes to be won. You should visit the taurion.io and xaya.io websites for further details.

GOLDSMITH


Taurion Teaser Trailer – Review