Facebook is banning all ads related to cryptocurrencies and ICOs. Even ads about Bitcoin. The reason is clear: the social network has had enough of fraudulent and deceptive information.
The policy is understandable: unless Facebook invents a mechanism to filter misleading ads, it is easier to ban them all. However, any moderation is hard to imagine. There are lots of ICO ratings and audit companies that are dealing with the same problem of scam ICOs, deceptive information, and fraud. Still, the number of crowd sales is growing at an unprecedented pace, and so does the number of dirty players. With dozens of crowd sales being announced daily, it would take weeks for experienced experts to analyze them all and decide whether a particular ad is decent or not.
Fortunately, decentralized technologies are not only the source of the problem but also a solution. The problem of fraud has plagued the crypto-community for years, and it was just a question of time when the community would consolidate in order to sort it out. Now, the solution is here: the CLOUT project.
CLOUT is a decentralized media platform for the crypto-community. It functions as a social media, where users can share, comment, like or dislike pieces of content. The main advantage of CLOUT is its ability to self-regulation. Each user has his own rank that is formed on the base of votes that he receives from the community. If somebody posts dishonest or fraudulent content, other users can dislike it and lower the ‘karma’ of the author. Projects also have their own ranks that are being formed in the same way. So, the community regulates itself: decent projects and useful pieces of content are being approved and awarded with CLOUT’s cryptocurrency by the platform itself and its participants. On the contrary, dishonest projects and pieces of content are being penalized.
Being a media platform for ‘all-crypto’, CLOUT offers advertising opportunities for its participants. Any project can sign up and start an advertising campaign targeted to a specific crypto-related audience of potential investors. Thanks to its self-regulated mechanism, CLOUT doesn’t need a complicated technological solution or manual moderation of advertisement placements. This is all done automatically by the CLOUT reputation system.
Finally, it is worth saying that the crypto-market really needs some sort of regulation in order to keep the fraudulent projects and authors in check. However, the solution shouldn’t be autocratic – like that of Facebook – but use the power of decentralized technologies instead. Just like CLOUT does, for example.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency.
Image courtesy of Esther Vargas via Flickr
Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC
The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.
The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.
Musk’s Tweets also impacted Dogecoin’s price
Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.
He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.
ur welcome pic.twitter.com/e2KF57KLxb
— Elon Musk (@elonmusk) February 4, 2021
Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.
But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Wisebitcoin Launches Professional-Grade Crypto Exchange
Infrastructure is developing rapidly in the cryptocurrency industry, but the recent launch of the Wisebitcoin cryptocurrency exchange is nonetheless significant in terms of the immediate value it provides to cryptocurrency users. That’s because the exchange has had a beta version available since 2018 while continuing further developments in stealth mode, and already serves over 1.2 million end users with $6+ billion in 24 hour trading volume at the time of its official launch.
In addition to the large user base and deep liquidity, Wisebitcoin also stands out by offering up to 100x leverage to margin traders, with the ability to open a long or short position in their futures market. In the current bullish environment, leverage is a key way that experienced traders increase their exposure and try to profit from volatility.
For example, if a user opened a long position on ETH on January 2nd at a price of $750, they could have greatly multiplied their profits with even a small amount of leverage such as 5x as ETH reached over $1,100 within 48 hours. A simple unleveraged position would have netted $350 in profit, but a 5x position would have netted $1,750 and a 100x leveraged position would have netted an incredible $35,000 in profits from an initial investment of just $750.
Beyond leverage, Wisebitcoin additionally offers a simple and…