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Justin Sun Plans To Buy BitTorrent

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Justin Sun, the CEO of TRON, is finalizing an agreement to buy BitTorrent, inc. Most people know BitTorrent as the creator of the popular torrenting client, uTorrent, which at its peak had over 100 million users.

According to Torrentfreak.com, BitTorrent has been in a steady decline to some poor decisions and potentially illegal missteps by their management.

In an interview with BitTorrent founder Bram Cohen, the management was painted by Cohen as incompetent narcissists who had no business plan and no idea what they were doing besides chasing some nebulous idea of celebrity endorsement.

This can be seen in Cohen’s statement, “They were just incompetent fuckups. I mean they’re losers. Basically, Accel took their share in BitTorrent and pretty much just gave it away to these total strangers who they didn’t know. And not only gave away their stock but gave away control of the company.

Human beings are a bunch of starfuckers, right? The United States has become this celebrity-obsessed culture, and everyone’s all about, oh, we’ll gain access. That’ll be great, and we’ll make money off of it, everybody thinks this.”

It is against this backdrop that Sun’s alleged acquisition is taking place. The TRON projects alleged goal is to “decentralize the web.” Owning one of the most recognizable brands aligned with these goals would be a major coup for the ambitious CEO.

This is due to the fact that the most likely use case of uTorrent by TRON would be to simply parlay its user base into usage of the TRON blockchain.

Since a huge part of TRON’s model relies on advanced content search for media files, simply making use of the uTorrent brand but integrating it with Tron’s decentralized search would instantly transform TRON into one of the most actively utilized blockchains on earth.

The information stems from the fact that BitTorrent changed their company name recently to Rainberry according to their chief product officer. “Rainberry Inc is the official name of the company; it was changed right around the start of 2017.” He stressed that it was a purely corporate decision and that none of the existing product brands would change.

Despite this blanket denial, it seems like the acquisition was proceeding swiftly, and was even overcoming some initial hurdles. BitTorrent had already tried to find a better acquisition offer during the first round of negotiations, to the point that Justin Sun took them to court in an attempt to stop them from negotiating with other buyers.

However, it seems that these initial roadblocks have been overcome, as a new company called Rainberry Acquisition, (BitTorrent recently changed their official company name to Rainberry) was formed and registered directly to Justin Sun. How Sun plans to integrate the platform with Tron is an open question, but it is likely to result in some interesting synergies.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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Solve.Care Has Potential to Transform the Field of Healthcare Administration

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The last few years have been a crazy ride in the crypto markets.  We’ve seen both the buying frenzy and the panic selling.  Although the industry has a lot of potential, it is undoubtedly true that many projects will fizzle out during the next 12-24 months.  Traders need to carefully analyze projects that have the best chance for real world adoption.  Part of the analysis certainly needs to center around projected industry growth.  One of the areas in desperate need of transformation is healthcare administration and Solve.Care may have just the solution.

Problems with Traditional Healthcare

Healthcare administration around the world has become plagued by inefficiencies and soaring costs.  Global spending on health exceeds $8 trillion annually and is expected to increase to $18 trillion worldwide by 2040.  In the U.S. alone, up to $1 trillion is wasted through administrative costs, over-utilization, and fraud.  Much of this waste is due to an obsolete and cumbersome healthcare system.  These issues have placed a massive strain on patients, doctors, and system administrators for far too long.

For doctors, one of their major complaints is the amount of time spent completing paperwork and dealing with insurance companies.  For patients, one of the major complaints is lack of face time with their primary care physicians.

Change is definitely needed and that’s where Solve.Care comes into the picture.

What is Solve.Care

Solve.Care is a transformative healthcare administrative platform designed for use by patients, employers, doctors, healthcare groups, and insurance businesses.  This platform is the first to use blockchain technology as the underlying distributed ledger for all care events between patient, doctor, pharmacy, laboratory, insurer, and other parties.

Patients are encouraged to manage their healthcare decisions.  Employers can use the platform to administer benefits, reduce costs, and reward their employees.  Doctors and hospitals can issue prescriptions, manage appointments, and coordinate with a specialist.

The platform has the potential to save billions of dollars in annual costs by better coordinating all the normal healthcare administrative operations and thereby eliminating all the inefficiencies.

Prior Accomplishments

Solve.Care completed it’s token sale in May 2018 and has since had its token, SOLVE, listed on Bittrex and KuCoin.  The company sold 350 million tokens with a 100% subscription rate.  That certainly speaks to the demand of both the token to use Care.Wallet and the platform’s potential for real world adoption.

The company had made it a priority to hire some of the best talent in the world.  More than 100 people are currently working in the company with approximately 70 of them being engineers.  The engineers are making rapid progress as the platform is being continually expanded and improved.

Whenever new technology attempts to disrupt an industry hanging on to outdated software and practices, it is imperative that startup companies have the right leadership.  Fortunately, Solve.Care appears to have someone very capable at the top.  The company is led by Pradeep Goel, who has been in the CEO, COO, CIO and CTO roles at various technology companies over the past 26 years.  Pradeep has a wealth of knowledge from both the private and public sectors, most notably from his time designing and building solutions for public programs such as Medicaid, Medicare, and SNAP.  Pradeep has also been named in the Goldman Sachs list of the top 100 entrepreneurs in the world.

The company has a growing pipeline with more than 25 clients and partnerships.  Perhaps the most impressive of which was the recent deal struck with Arizona Care Network.

Arizona Care Network Partnership

Solve.Care has a proven track record of developing blockchain-based healthcare solutions and introducing them to the U.S. healthcare market.

In February 2018, Solve.Care announced a multi-year contract for its decentralized healthcare administration platform with Arizona Care Network (ACN), one of the largest accountable care organizations in the United States.  ACN manages value-based care contracts for its network of more than 5,500 physicians covering more than 250,000 members.

David Hanekom, CEO of Arizona Care Network, had this to say about the partnership:

“ACN is focused on innovation in the healthcare industry and seeks to be the leading technology-enabled ACO in the U.S.  This is why we chose to partner with Solve.Care, a true innovator in the healthcare administration and payments sector.  Solve.Care brings a lot to the table in terms of their ability to simplify and decentralize complex processes related to value-based care delivery and payments.  We couldn’t be more excited as a result of this partnership and look forward to launching the platform with our providers and members.”

Since that announcement, Solve.Care has continued to innovate with the launch of Care.Wallet for Physician and Care.Wallet for Family.

Care.Wallet for Physician Development

Care.Wallet for Physician, launched in October 2018, allows the providers of the Network to track the successes and overall score, while receiving corresponding rewards according to the Provider Rewards Program.  These value-based payments inside the network of 5,500 physicians are happening with the healthcare digital currency, Care.Coin.  It is important to note that Solve.Care is the first company to implement digital currency and blockchain technology for value-based payments in the U.S. healthcare industry.

Conclusion

Of all the industries, I can’t think of any that needs a complete overhaul more than health administration and care coordination.  With soaring costs and an aging population that will need quick and easy access to care in the coming years, this is an area that could see a lot of innovation in the near future.  Solve.Care is already doing its part to transform the industry, and will no doubt reap the rewards for its innovative spirit.

 

 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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5 Things Cryptocurrency and Blockchain Investors Should Beware of in 2019

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Just over ten years on from its inception, the cryptocurrency and blockchain space is still in the nascent stages of its development.

However, that should not be taken as a sign of slow progress. On the contrary, the blockchain space is evolving fast – so fast, in fact, that already we’re starting to see a departure from old standards, methods and practices, even those that were born very recently.

Here are five imminent trends to look out for in 2019.

Bullshit Artists Will Evolve

If you dig through cryptocurrency websites and whitepapers for long enough you start to notice certain trends. There was a time when all that accompanied the launch of a cryptocurrency was a Bitcointalk forum announcement and some Github links.

By 2017 the paradigm had evolved to where if you didn’t have a snazzy website, replete with edgy-looking space-age graphics, accompanied by appropriate links to thirty-page whitepapers and the LinkedIn profiles of various unknown Asian tech-geniuses – then you probably didn’t have much in the eyes of the average ICO investor.

Yet by 2019 that trend appears to be evolving already. More and more new projects are moving away from the standard model in an attempt to stand out from the crowd. Now, instead of dev groups competing to have the longest whitepaper, they’re competing to have the shortest.

One-pagers are becoming increasingly common, as is the use of video. Animations and graphics are evolving to attract and inform investors without the use of text, and one new project even launched with two issues of a manga comic which explained its use-case.

This might sound quite nice at first glance, but I suspect it will only serve to obfuscate, and make it more difficult to differentiate between genuine projects and shitcoins in the near future. ICO investments sunk like a stone towards the end of 2018, but the potential payoff for greedy team members is still enough that stumping up thousands of dollars for an extensive branding/PR campaign is a cost I’m sure most would be happy to pay.

Coins Will Die

The cryptocurrency landscape is in constant flux, and a glance at the front page of CoinMarketCap from 2013 reveals the fickle nature of the altcoin market. Only three coins from 2013’s top-fifty are still in the top-hundred today – Bitcoin (BTC), Litecoin (LTC) and XRP (XRP).

This past year alone saw numerous coins lose their mainstay status in the top hundred, such as Syscoin (SYS), CyberMiles (CMT), Iconomi (ICN) – and RChain (RHOC), which fell over 99% since January 2018.

In 2019 we may be surprised to see some major players fall by the wayside, and the reasons could be many-fold. If the market continues to sink as it has been of late, then the incentive structures of many major altcoins could find themselves being forced to endure severe stress-tests.

EOS (EOS), for example, is already perilously close to becoming an unprofitable venture for block producers. Meanwhile, mining rewards for such major coins as Ethereum (ETH) and Bitcoin have already fallen to such lows that all but the largest mining pools have perished.

Falling market prices could spell doom for many major players, but to put a positive spin on things: we should consider the bear market a factor of natural selection – it will allow us to see in real-time what works, what doesn’t, and what to look out for in the coming years.

The SEC Will Lop Heads

When SEC chairman Jim Clayton brought up the topic of cryptocurrency last November, he was crystal clear about Bitcoin’s legal status, namely that BTC does not fall under the category of a security.

However, that can’t be said for all the coins and tokens out there, and based on Clayton’s comments, the chances are that the typical holder is in possession of at least one security issuance:

“Many of the ICOs that you see and you talk about, they are securities. And if you’re going to offer or sell securities, you have to do so in compliance with our laws. We’ve been clear about that, the recent actions further emphasized that our securities laws to apply to the ICO space…”

To say that we’re still in the wild west of the crypto space is an understatement, and the SEC will have plenty of potential targets when they eventually decide to make their move.

Blockchain Will Thrive

Blockchain and cryptocurrency are proving to be two very different things. One is shrouded in mystery, taboo and FUD, while the other is shaping up to be at the core of digital, financial infrastructure.

Andreas Antonopoulos warned of the financial elite’s growing interest in blockchain (without crypto) back in 2014. And on January 29th, 2019, the chair of global research for JPMorgan Chase, Joyce Chang, called for blockchain to be further separated from cryptocurrency, which she regards as an apparent failure due to lack of merchant adoption, and falling trade volumes. She told Bloomberg:

“It’s been difficult to get through the regulatory issues (citing lack of ETF approval). We need to separate out blockchain from crypto. There’s been progress made on blockchain – there are successful use cases.”

Beware the Hybrids

The final six months of 2018 were dominated by XRP’s rise through the market cap rankings, fuelled by numerous partnerships with major banking institutions.

But it’s worth bearing in mind that much of the XRP hype train was founded on adoption of xCurrent – a semi-centralized blockchain payment service completely separate from XRP.

Likewise, one of the biggest pieces of news of 2019 so far – enough to gain coverage on CNBC with Ran Neu-Ner – was the launch of the BitTorrent Token (BTT). But as Tron founder Justin Sun eventually revealed, BTT payments will also make use of ‘hybrid payment channels’ outwith the Tron blockchain.

Furthermore, Over $3 billion in profit was reportedly made by the creator of online-gaming juggernaut Fortnite in 2018 alone. All of those in-game V-Bucks transactions were executed without a decentralized, distributed ledger, and are a possible sign that the booming digital payments industry could continue to push ahead, maybe even without blockchain.

Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 145 rated postsGreg Thomson is a full-time crypto writer and digital nomad. He eats ICOs for breakfast and bleeds altcoins. Wherever he lays his public key is his home.




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10 Reasons Why Bitcoin WILL Go to Zero: A Pessimist’s View

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The Davos Conference threw up a wide variety of Bitcoin price predictions this week, ranging from the hopeful to the apocalyptic. A recent article on CCN suggested 10 Reasons Why Bitcoin Will Never Go to Zero, and while I don’t necessarily disagree with the points made, I thought I’d take upon the role of devil’s advocate and offer a pessimistic counterbalance.

I am operating on the assumption that Bitcoin (and blockchain in general) doesn’t need to hit a dollar value of zero to be deemed a failure – it only has to fail at gaining mass adoption. That may be a high standard to set, but frankly, it’s the only standard I’m interested in.

1. People Don’t Want Decentralization

We all talk about decentralization and freedom as though it were obvious that these things are what people desire. Throughout all of human history people have organised themselves into hierarchies, with a centralized governing figure at the very top; be it God, the King or the latest President.

A lot of the Bitcoin and cryptocurrency movement is about personal freedom, personal responsibility, emancipation from centralized power – but I ask: just what makes you think that’s what people want?

Extending this point…

2. Linux Ain’t Beating Windows Anytime Soon

What if there was an operating system that was free, open-source, and even developed by a decentralized, non-hierarchical group of contributors? What if there was a operating system out there that didn’t constantly siphon data from your every move on the internet? One that wasn’t beholden to the whims of a mega-corporation which has a track record of using its devices to spy on people in their own homes?

Such an operating system does exist – and nobody uses it.

Windows and MacOS run on 95% of the world’s computers combined. Linux users represent 2%.

The self-reliance that comes with using Linux is for all intents and purposes simply too much for the average Joe or Jane. Similar to Linux, Blockchain and Bitcoin may well continue to be used by specialists in the future, but to assume anything else at this point is a stretch.

3. How Many People Use the Tor Browser?

Another example of the gap between what we think people want, and what people actually want. The issue of personal data collection and internet privacy is brought up in conversation every day, yet even with a free, anonymous alternative to Chrome and Internet Explorer available for one and all, still only a few million people use the Tor Browser.

4. World War 3

America needs YOUR Bitcoin!

A vast majority of Bitcoin mining takes place in China, and if World War 3 were ever to break out you can be damn sure that Bitcoin would suddenly become a war asset – to be fought over and pulled apart by world powers.

As suggested in my recent ponderance of Bitcoin’s role in the U.S and China’s ‘New World Order’, any potential war with the Chinese would inevitably spell the end for the Bitcoin blockchain.

5. Sabotage

All of BTC’s decentralized features count for very little when a powerful cartel can simply come in use Bitcoin’s democratic structure to their advantage. Many view Bitcoin as a shell of its former self given the reduction in block size, and implementation of SegWit and LN – both compromises on the whitepaper’s original goals.

Even back in 2014, an early Bitcoin miner by the name of Stefan Molyneux gave an eerily accurate prediction of how the financial elite would choose not to destroy Bitcoin completely – but rather commandeer it under their own auspices, and slowly dismantle it over time.

If you haven’t already heard about the sources of Blockstream’s funding and don’t wish to be made any more cynical – don’t google it.

6. Bad Reputation

Much like the aforementioned Tor Browser, Bitcoin currently suffers from a bad reputation. The classic line that BTC is used by criminals may be a laughable criticism (after all, how did criminals buy stuff prior to the early 2010’s?) – but that doesn’t mean it’s not important in shaping people’s perceptions.

Emotions often completely trump our more rational functions, and to this very day I live beside neighbours who still refuse to touch the internet due to some vague, rumoured fear of hackers, viruses and criminals.

Imagine an internet ruled by 64-character addresses, where every move you make could prove financially fatal, and you’ve got one more reason why Bitcoin will never make it.

7. Exchanges

Exchanges have a lot to answer for when it comes to Bitcoin’s bad reputation, and for as long as they exist the chances of mass adoption are slim. Coin hacks, personal data breaches, and a flagrant disregard of cryptocurrency’s supposed anonymity (KYC process anyone?) are just some of the problems stemming from centralized exchanges.

And perversely enough, given my assertion that people don’t like responsibility, any future promise of a decentralized exchange (DEX) would ultimately prove just as messy.

8. People Don’t Vote!

“It could be used for voting…” they often say of blockchain, as did Dr. Ben Goertzel on a recent episode of the Joe Rogan podcast.

Ok, but for that to happen we’ll have to address the fact that almost half of the U.S still doesn’t turnout for presidential elections. As it stands, walking to your local school or community hall and ticking a box is too much for 45% of the citizenry. And you’re going to ask them to set up nodes?

9. The Slow Creep of Regulation and Taxation

The ruling powers don’t need to destroy something to render it toothless, they only need to absorb it.

We find ourselves just a few years into the crypto movement, and already we can find horrific examples of arbitrary taxation on cryptocurrency trades – something that wouldn’t be possible were it not for the eager compliance of the aforementioned exchanges.

10. Political Differences

The individuality which being the master of your own private key demands is at absolute odds with the growing political trend of passing off responsibility onto a higher power.

Depending on which wing of the political spectrum gets voted into power next, we may see more pressure applied to Bitcoin and crypto in the very near future. We may think of Bitcoin as apolitical, but that doesn’t mean everyone else will.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 145 rated postsGreg Thomson is a full-time crypto writer and digital nomad. He eats ICOs for breakfast and bleeds altcoins. Wherever he lays his public key is his home.




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