Tag: Cryptocurrency

Leaving footprints with Daily Telos

I am not the same person that I was was when Steemit.com started, then Hive, or even a month ago when Daily Telos started

I always enjoy new experiences. and this new experience makes me think and keep my thoughts on the blockchain forever. You are always growing. The experiences do not stop, and that is good, living in a country that is little by little more difficult, difficult to get food, difficult to buy clothes or shoes.


But this is life here in Venezuela. And these very experiences that seem so difficult when you go through them are the ones you look back on with gratitude for how far you’ve come.

I always enjoy new experiences. and this new experience makes me think and keep my thoughts on the blockchain forever.


It is always good to grow, and every day to learn, The experiences do not stop, and that is good. And how wonderful it is to leave a mark on our life on the blockchain.

What matters in life is not to do more than someone else, but to do everything in one’s ability with the greatest possible intensity. That being the case, because we all have something to tell and different moments, that is why we should all know this beautiful way of telling our stories, such as Daily Telos.


As strong as the road, “Everything passes” and you will look back, and I know that some lesson life has taught me.

By Daniel Marcelo.

Join Daily Telos and change your life!

Website: https://goldsmith.money/daily-telos/

Telegram: https://t.me/dailytelos

Twitter: https://twitter.com/DailyTelos

What is the Metaverse?

Whatever it is – it seems to be where Telos and XAYA are headed!


At Goldsmith Money, we talk blockchain based virtual gaming worlds and economies ad nauseam.

Yes – virtual reality platforms are the future of economic marketplaces!
Yes – these platforms will be built on trustless and decentralised blockchains!
Yes – these new virtual worlds will open up NEW and COUNTLESS opportunities for all!

It seems that we are not the only ones saying it.

Today we came across a terrific essay today by Piers Kicks, titled ‘Into the Void: Where Crypto Meets The Metaverse‘.

Piers introduces what is a new concept to us called ‘The Metaverse’.

The Metaverse: a persistent, live digital universe that affords individuals a sense of agency, social presence, and shared spatial awareness, along with the ability to participate in an extensive virtual economy with profound societal impact.

The essay had actually been tweeted out by Tim Sweeny, CEO of Epic Games (think Fortnite). Seeing the BIG game developers were taking it seriously – so should we.

In keeping the concept simple for us – we think of The Metaverse as the ‘OASIS’ in Earnest Cline’s, Ready Player One. However, we accept that there are a myriad of forms a non-fictional Metaverse might take; and, a good deal of time and development to get there.

According to Piers, FIVE converging verticals would drive the emergence of The Metaverse

  • Culture
  • Content
  • Mediums
  • Standards and Protocols
  • Infrastructure.


The foundation for the fusion of the FIVE verticals however would be blockchain – or more specifically, cryptocurrency and non-fungible tokens (NFTs). Piers writes:

I believe that within NFTs and crypto lie the most elegant solutions to the problems of digital scarcity and uniqueness, digital property rights, large-scale coordination across virtual environments, and robust privacy-focused systems that cannot be exploited for the enrichment of few at the expense of many. Without the assumption of a robust economic membrane, the entire concept of the Metaverse quickly collapses. 


Many of you reading this blog post will already have an understanding of cryptocurrency and NFTs. More than likely you are already part of the Telos or XAYA communities, which we work closely with.

For the XAYA team, The Metaverse is their vision. A universal gaming hub, all built upon a traditional Bitcoin, proof of work, blockchain architecture.

XAYA has the infrastructure in place to ensure secure game asset ownership and facilitate safe trade and provably fair gaming. It is also scalable enough to build MASSIVE MULTIPLAYER VIRTUAL REALITIES.

In the case of Telos – fast, oh so fast. Scalable, smart contract functionality – this blockchain can do anything. From facilitating commercial, administrative and governance functions, it provides for a plethora of virtual currencies, NFTs, games and much, much more.

Both blockchains are already making ground in the FIVE verticals and both have stable and talented teams behind them. Either (or both) of these ‘hidden gems’ could easily be a catalyst in the creation of the inevitable Metaverse.

For you budding Entrepreneurs looking to build your fortunes in this new world, you should take a close look at these two blockchain technologies – along with others. According to Piers, you should familiarise yourself with:

  • Bitcoin and Ethereum; Cryptoeconomics.
  • DAOs, DeFi, Non-fungible Tokens, Social Tokens, Cryptomedia.
  • New business models being unlocked by decentralized networks.
  • New governance models being unlocked by decentralized networks.
  • Intersections of crypto with emerging trends such as direct-to-avatar.

In conclusion Piers writes:

The increased financialization of virtual worlds is upon as the technologies to connect thousands of isolated virtual economies are unleashed.

Find the link to the full essay here.

Enjoy the week ahead! Of course if you are a silver stacker – we are sure you will.

GOLDSMITH.

Taurion Cubit Faction Coins

Virtual currency designs for a more beautiful blockchain experience.


The team at Goldsmith Money are excited to unveil our first virtual cryptocurrency series.

In honour of the rapidly expanding blockchain gaming ecosystem Taurion, we have minted our first range of virtual tokens, which we are calling our Taurion Cubit Faction Coins – or Cubit Coins for short.

Cubit is a dark and rich precious metal native to the harsh, yet resource rich planet of Taurion.

Cubit is rare, malleable and remarkably beautiful, making it an ideal medium of exchange on the planet.

Naturally Cubits are highly prized by all 3 factions currently occupying the planet. Their prospectors, miners & craftsmen alike, all strive to amass their cubit fortunes. Not to mention the thieves, raiders and pirates who have also made the planet their home.

Wars will be fought over Cubits and the battles will be rife. For some, Cubits will mean success and wealth beyond measure. For others, cubits will mean a lifetime of failed pursuit and shattered dreams.


Cubit Faction Coins – Series 1 (2020)

Artist – EDX Designs


The Reubo

From the water covered planet of Aquarion, this genetically enhanced race of seafaring villagers, now seek land, minerals and cubits on the desert planet Taurion.

Most certainly out of their watery comfort zone – will Reubo technological prowess be enough secure them success on Taurion?


The Jodon

With a strength forged in the lava pools of Lionis, the Jodon are brutal and uncompromising. Answering only to Baron Vostok himself, the Jodon will do whatever they must to ensure this authoritarian regime thrives in this new world.

Alternatively – could Taurion mean an end to the political class warfare, which has plagued Lionis for so many centuries? Whispers are – a ‘cubit revolution‘ is afoot.


The Ephrati

Their home, the lush forest planet of Verdis, is a vision of beauty within a canopy of death. Both flora and fauna can kill in an instant. Regardless, this final race of Earth descendants, is both enterprising and motivated and have managed to tame the planet and survive.

As proponents of free markets and capitalism, will these masters of trade and commerce be able to overcome the strength and technological superiority of the other two factions? Time will tell. And time has historically been a friend to expanding republics.


Get your own custom Cubits!

These are the Taurion Cubit Faction Coins – Series 1 (2020).

If you would like your own customised cubit coin/s, with your own branding / avatar image on the front – please reply to this post with an expression of interest.

Virtual Mint (GM Virtual Mint)

The GM Virtual Mint webpage is currently in production. We hope to have the catalogue page up and running soon. Here you will find all our customisable virtual currency mintings, for your blockchain business, branding and pleasure needs.

GOLDSMITH


via GIPHY


Learn more about the current Taurion Treasure Hunt here.


Gold on the blockchain

INFINIGOLD: Perth Mint Gold Token


Those of the Financial Awakening appreciate two things – the first is GOLD; the second is BLOCKCHAIN. The merging of the two was simply a matter of time. How this merging would take place was all that needed to be determined.

We thought it would have stemmed from the US. New state based precious metal depositories have been built over recent years. We assumed one of the depositories would have then established themselves on a blockchain. Allowing citizens to transact in gold and silver backed tokens, convertible for the metal held in the depository.

We have no doubt that this will still take place. However, it appears that the first institution to take their gold vault to the blockchain may be Australia’s PERTH MINT.

INFINIGOLD has released its Whitepaper 1.1. In collaboration with the Perth Mint they are taking the GoldPass digital certificate to the Ethereum blockchain, as an ERC20 standard token. The token has been aptly named the Perth Mint Gold Token – or PMGT for short.

Each PMGT token is backed by a 1 ounce GoldPass certificate, which is in turn redeemable for 1 ounce of physical gold at the Perth Mint.

Whilst stored physical gold is not allocated to each certificate, the Perth Mint claim that they have the gold available to meet any redemption request. It is also noted that the mint is guaranteed by the state Government of Western Australia – providing addition credit security.

So what do we make of this?


The PMGT is a terrific development for the cryptocurrency industry!

Tokens backed by physical assets will enhance public perception of cryptocurrency generally, as the tokens are now without doubt, a store of value. In time this should encourage more adoption of the tokens as a medium of exchange, outside of the failing fiat systems.

The PMGT could be good investment vehicle for some – just buy and hold. Though if you want to buy and hold gold – wouldn’t it be better to just buy and hold physical? Perhaps.

PMGT will be available for purchase on selected cryptocurrency exchanges for account holders who have satisfied the necessary KYC identification requirements. This in itself will limit early take-up. Once purchased however, these tokens can be moved onto the Ethereum blockchain to be transferred and traded within.

Redemption for physical gold would need to take place back at a selected exchange. This may not deter interest in the tokens though, as many would not be interested in converting anyway. Instead they may be simply looking to peg some of their cryptocurrency wealth to the price of gold – and the PMGT may be an ideal solution.

However, if the desired purpose of the token is everyday trade – forget it. A single transaction on the Ethereum network is costing as much as $US20 at present. The network is being pushed past capacity by the current exploding DeFi demand. The high transaction costs and network limitations will crush any chance of PMGT replacing fiat currency as an exchange medium.

In many ways it is a shame InifiniGold selected the slow and overworked Ethereum network to build their product on. There are so many other options now. In fact, one of our two favourite blockchains, Telos, is already capable of running thousands of transactions per second, with all transactions being feeless.

Furthermore, the Ethereum Virtual Machine (EVM) is built upon Telos, allowing token developers to continue to use their Ethereum style coding, on this profoundly more capable public ledger.

In the end…

the PMGT is certainly a step in the right direction, on the path to Good Money.

You can find more information on the PMGT here.

Have a wonderful weekend all.

GOLDSMITH



Looking for more information on GOLD, try…

And for more information on BLOCKCHAIN, try…

What is DeFi?

happy young couple doing purchase on internet together at home

And is it the hottest ticket in cryptocurrencies?


According to an article by Mr Jeremy Eng-Tuck Cheah, published in The Conversation, on 26 August 2020… it very well could be. Link here.

DeFi stands for Decentralised Finance and according to Mr Cheah, this financial industry has grown from US$2.1 million to US$6.9 billion in the past 3 years.

DeFi refers to and I quote…

… financial services using smart contracts, which are automated enforceable agreements that don’t need intermediaries like a bank or lawyer and use online blockchain technology instead.


happy young couple doing purchase on internet together at home
Photo by Andrea Piacquadio on Pexels.com


DeFi smart contracts began with the Ethereum blockchain network and have now evolved into much, much more – encompassing a wide range of blockchains and decentralised applications (Dapps).

Lending, trading, cross-platform trading, derivatives, currency pegging and hedging are all being done within smart contracts; and, are but some of the use cases.

In a recent announcement by the Telos blockchain – they will be providing the infrastructure to tokenise a EURO 30 million property in Croatia. In partnership with Dapp development platform Katalyo and other stakeholders, they plan on tokenising both the property ownership and the rental revenue income. Another new example of DeFi in action. Article here.



In a YouTube broadcast last week (embed below) we discuss both the above articles and the financial opportunities that continue to arise in the blockchain and cryptocurrency industry.

Enjoy the video and remember the term – DeFi. For you will be hearing it more over the years to come.

GOLDSMITH.




What is Blockchain?

Check out one of our recent blogs on just this topic.



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




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

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