Debunqed

Tag: software

  • Data (Gold) Mining

    Data (Gold) Mining

    Let’s face it, if you really were going to quit Facebook, you would have a few years ago. Fact is, you should have asked the serious questions when the ‘free’ social media platform started turning over millions and even billions of dollars in revenue. No free service can generate that amount money out of goodwill and thin air – so much that they could list on the stock exchange. So, we are not quite sure why everyone is acting amazed or why the knee-jerk #DeleteFacebook campaign is only now coming to light.

    There really is no such thing as a free lunch and if you believe that all these online social platforms – who may have started off with sole intentions to provide a free service, would keep it that way, then you are as naive as they are hoping you to be. Think about it, the companies behind the platforms, actively recruit in pretty much tens and hundreds of cities globally. And the simple fact of the matter is that in order for them to pay all their (global) staff of programmers, developers, executives, lawyers and other stakeholders – they need revenue.

    Facebook, Google, Twitter, Snapchat and pretty much any social media platform that has over 100 million users, therefore, sit on a goldmine for advertisers. The commodity, however, is not just what their users wish to own in the short term, or their purchasing power directly for that matter. The commodity is simply you, the user. So, your preferences, habits and views along with their personal data are analysed via machine-learning systems to study behaviours and habits for constant revenue maximization or in some extreme cases: political, psychological and social manipulation!

    “Your ‘payment’ on a social media platform is your consent to have your information used for marketing purposes – opting out of marketing would give you true free use of the service. But no profiteering company offers that privilege today – the best you can get is a month’s free trial.”

    Knowing your likes, spending habits, music preferences, political views, personal information including location and working habits is enough for any company or institution to cater their goods and services and position them (sometimes subliminally) into spaces where you are likely to indulge in them. Social media platforms, in this case, become the marketplace for them to ‘mine’ data to use.

    Most famous social network sites worldwide as of January 2018, ranked by number of active users (in millions).

    Most famous social network sites worldwide

    Source: © Statista 2018

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    Data mining is not a new idea and completely legal if presented transparently in the terms and conditions of any service – which are getting longer by the day (and smaller in print) that we don’t bother to read them. In fact, Microsoft envisioned this a decade ago and changed the way its operating systems work (beginning with its Windows 8 series), to more of a social, interactive and information gathering system – designed to “help you” organize things better. This is fostered by a voice-activated app called Cortana – all under one Microsoft account.

    Amazon has its own ways of data mining via your shopping habits and Alexa – is own voice-activated search and information-providing device. Google (owned by a group called the Alphabet company) has the biggest stranglehold of the lot and must, therefore, be the most cautious when it comes to data privacy and security.

    This applies especially with its partnership with Android, which makes it a requirement to use for all their devices (phones and tablets) to link up all your data including phone contacts, emails via Gmail, pictures via GoogleDrive, apps (music, movies and games) orders via the Google (Play)Store and social media via Google+. You can even have your search fields stored and synced onto your devices – from your laptop to phone and tablet via Google.

    You are now having to (almost mandatorily) give up your telephone number, location, and other preferences indirectly to unknown affiliated marketers and partners of the tech giants who are getting first dibs on this data – and paying good money for it.

    The main violation by Facebook, therefore, might not even be non-consensus selling of data to marketers, because such things could be countered with a clause they may have strategically stuck in while you were busy posting selfies and liking random videos of cats making funny faces. The real issue is the potential use of the data for political or advanced manipulation of data for fraudulent purpose with the use of sophisticated and artificial intelligence to influence you without your knowledge.

    Read more about the uses of Artificial Intelligence here

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    Full data privacy, though not conceivable, and absolute freedom from advertising on social platforms is possible – but at a cost. This was reiterated recently by the COO of Facebook who admittedly confirmed that opting out of the terms to have your data sold or used would lead to you having to pay to use Facebook in future. They had just not put this in place but will now forcibly have to make it a clearly visible option.

    250x250The fact of the matter is we are in an era of Big Data, Internet of Things (IoT) and AI – all which require data to analyze. These platforms are thus here to stay and still serve their specific functions well. More importantly, they’re also the livelihood for many small-to-medium-sized businesses. Though many were reluctant at first, pretty much every company now has a Facebook, Twitter or Instagram page to showcase and communicate with their clients via the newly termed phrase ‘social engagement’ – a strong branding and marketing tool.

    And if you think you are out of it by leaving one platform, just remember this: Facebook owns WhatsApp & Instagram; Google owns YouTube; Microsoft owns LinkedIn and so on – there is nowhere to hide if complete online privacy is important to you. And let’s not forget your web-browser – not many people actively use ad-blockers unaware that even their browsing data is being scanned and processed always by external third-parties companies.

    If you aren’t using a Virtual Private Network (VPN), you should seriously consider it along with some good (some free) plug-ins to help secure your online browsing from all types of behind the scenes snooping and ransomware.

    It will be interesting to see the outcome and verdict of the probe into the Facebook case and rest assured, many other heavily used platforms will be deleting and removing ties with data mining marketers that have had a similar agenda to what Cambridge Analytica was accused of conducting.

    A change in verification of marketers, data storage, management and data security laws (such as the new GDPR law targeting businesses coming in May 2018 to the EU region) were long overdue, and Facebook will now be the scapegoat to enforce data security laws on social media.

  • Peer-to-peer service

    Peer-to-peer service

    History has taught us that a fully centrally controlled government system fails completely – well, in the long run.

    The idea of a communistic system has its merits and could still work in some sectors of our economies. It, however, omits the very thing that was provided to us as human beings – choice.


    Knowledge is empowering – but the power to do the things you would like to do effortlessly without fear of error.


    This shared knowledge emanates from scientific, biological, or financially proven theories and tests.


    They can help you make the right investments. Such as saving money on the best deals, obtaining rights to social benefits, travel to great destinations. Or simply just helping other people achieve their personal and spiritual goals.

    Monopolistic behaviour

    Those that cling onto knowledge though, serve their interests alone and should not be revered but rather shunned for power-hogging.


    Sadly, some governments monopolize access to information, basic services, resources, and even education to create an artificial demand for ´their services’.


    This forms the basis of a centrally controlled or outright communistic state.
    In business, this is a common practice of a monopoly to control the price of their good or service as they are the only ones providing it.


    The quality of that good or service, however, can and will be determined by them and them alone!


    Can you imagine then, based on the previous sentence, a situation that only governments have this power to dictate a basic service such as healthcare or education for you?


    Scary thought and if you look at most developing countries, the evidence of this is overwhelmingly sad.


    But we are not here to talk about the governments as there would be several cases to point out and this is not a political platform.
    Case in point, the concept of a centrally controlled system nevertheless is less efficient and prone to failure to disseminate the very items it sets out to provide.


    Deploying software by a global firm like IBM, via a centrally stored-located server would be absurd because the infrastructure of the recipient regions or end-users might not be well equipped to handle it.
    So one begs to question, why would you do it for social services for instance?

    Decentralized systems

    Decentralizing a system can improve efficiency because it gives options to get the best quality possible. It also removes power from one or a few providers and shares it equally amongst other stakeholders.


    This way all will stand to mutually benefit from a working system indirectly rather than just the state collecting monetary compensation or tax and deciding what to do with it alone.

    Centralized systems can learn from the blockchain to efficiently provide services.

    eMule


    Let’s take the now “illegal” peer-to-peer file-sharing and downloading software such as eDonkey/eMule (developed by Microsoft).
    Or take BitTorrent for example     you could with them, build together any file by downloading “bits” of the file by many connected servers or PCs  (peers).


    This system leads to faster downloads and allows one to source from the best quality of the available digital bits to get the data to form the e-book, music track, or movie that you were after.


    Leaving your download running would enable others to get the files you have already amassed (you reciprocally upload the files). The cycle continues until everyone acquires the same great quality file from the best ‘seeds’.


    Downloading from a sole server for the same product, on the contrary, could crash the server.


    Let’s not forget the delays due to operational differences in time-zones, or complete failure to download if the file source is corrupted or the file quality is bad.

    Application of decentralized systems

    Naturally, the entertainment industry put a stop to this because it meant that people could attain their copyrighted material.

    Many fines and warnings were dished out to individuals as well as companies hosting the sharing servers.


    You can, however, still access them via carefully planned entry gateways to hide your IP address using VPNs. Those of you who are IT experts can use (old-school) backend protocols like FTP.

    BitTorrent -> Bitcoin…Torrent -> Tor ..anyone seeing a pattern here?

    There is now even a new digital currency designed to help artists curb piracy and reward the artists for their work.
    Such protective software is already in the pipeline thanks to blockchain technology.


    Decentralizing services such as money transfers in the advent of Cryptomania removes power from regulated financial institutions. They tend to charge high fees for sometimes slow and error-prone services because they can.

    Conclusion

    So, swiftness and security are a prime reason for the adoption the Blockchain technology. Everything else such as the price of digital alternative coins or ‘altcoins’ boils down to basic supply and demand for it.

    Governments and other institutional service providers can take a leaf out of the blockchain technology tree and its true intention.

    The aim is to decentralize the provision of a service to give everyone access to it. This will reduce associated costs of using it and improve efficiency!
  • Forex on steroids!

    Forex on steroids!

    With all the negative and positive commotion surrounding the Crypto market – it still begs the question, for those still curious. What does it take to engage in the trading of Cryptocurrency?

    And by trading, we are not referring to the price speculation in a portfolio as one would with the price of a company’s shares or even CFDs. 

    We are rather referring to trading it as a commodity against other ‘Cryptos’ in a properly regulated online market setting. Similar to how a Foreign Exchange (Forex) market operates.

    As with trading traditional fiat currencies, the price is purely determined by good old supply and demand for the currency and monitored by the availability versus volume traded.

    It is therefore just a medium between traders where they can set limit orders to buy/sell Bitcoins for a certain price.

    So, in the true approach of Debunqed, we will decipher crypto-exchange trading by looking at what you need to do to get into it, and what you stand to gain.

    Here are the quick steps:

    The first step would be to open a secure Crypto wallet to physically purchase (own) some altcoins. Bitcoin, Ethereum, and Litecoin are the main coins offered by Crypto wallet providers.

    They hold the most value and can thus be broken down into smaller denominations (Altcoins). The same way the dollar is used as the main exchange for other fiat currencies. This example helps to put things into perspective.

    Make sure you do your research into which wallet you will use. Obviously, if you are mining a certain Cryptocurrency you would naturally purchase them directly from that software provider of the Altcoin.

    Using Ripple mining as an example, the platform is supplied by RippleNet and naturally, it follows that the Ripple company mines all the volume and controls its supply.
    Getting the digital currency into a wallet can be a quick exercise.

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    It can take as quickly as between 5 – 20 minutes via a peer-to-peer Bitcoin marketplace connecting buyers with sellers like at Paxful.

    Make sure you deal with reputable sellers.  This wallet provider rates suppliers based on how reliable they are so only deal with sellers of the highest ratings.


    The actual purchase (mostly conducted via online chat) can be made via a Credit/Debit Card, online banking or convenient money transfer facilities like (Europe-based) N26 Bank, Skrill or PayPal.

    You can even purchase and send gift cards from Amazon for instance, to the seller (to the value of the currency being purchased) for the seller to release the Altcoins.

    Security and storage

    The actual coins are stored as an alpha-numeric key code – with the currency value in the wallet once acquired.

    This after the wallet-broker takes a small fee for the transaction. This code/key needs to be kept secure – backed up online and offline (highly recommended). This is possible on special flash-drive (Crypto wallet) like the Trezor or a Ledger Nano. The device would hold the deposit key if you were transferring it to another wallet or to an exchange to trade.

    Time to go shopping!
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    Finding a good exchange

    The next step would be then to source a robust and user-friendly platform to trade your newly acquired currency on.

    The best cryptocurrency exchanges would allow you to swap fiat currency such as dollar/euro for the digital currency directly. Naturally, you can trade one digital currency for another as well.

    Binance

    There are quite a few to choose from so it is good to read the reviews. You should then select one based on the number of deposit/withdrawal methods, the fee structure level, number of countries served, availability of security tools and features.
    The last aspect is a huge determining factor: exchanges can be prone to hacking, or loss from outages. Lastly, their margins and exchange trading functions are good to observe too.

    For serious and equally secure trading, you will likely need to use an exchange like Binance that requires the user to verify their ID before being opening an account. Make sure you have all your documents ready and up to date!

    Trading

    When it comes to the actual trading, let’s take a scenario where two people want to sell an altcoin but not for the market price. One sets a limit order for lower and the other for a slightly higher price. So, the best price to purchase Bitcoins, in this case, would be the median of the two prices.

    If the buyer wants to purchase more than one altcoin, they will continually take the lowest price available. By doing this, the “price” of the altcoin will increase as the lower-price sell orders are no longer available.

    You will then, as with Forex, purchase pairs of where you think your digital currency will be stronger against another e.g. BTC (Bitcoin) vs XRP (Ripple).
    This combo would look like this on the exchange: BTC/ XRP – 0.00011960. What this means is that one Ripple coin is worth that much Bitcoin for instance.

    The little details

    This type of trading, like commodities or forex, requires constant attention and the monitoring of prices. But there are tools that can also help you set prices and have the trades auto-execute.

    So, a platform which provides such tools conveniently allows you the time to do other important things. Like paying attention to your spouse, formal job or family and friends. That would be ideal.
    If you have the cash, time, expertise and financial clout, it is even possible to run your own Crypto Exchange!

    This is another benefit of a decentralized currency system that will allow you to earn some cash by charging for the usage of your robust platform.
    Well, this may be until the fiscal authorities’ crackdown on all of the platforms with restrictive legislation.

    Finally, like many platforms that provide opportunities to purchase something, the software must be stable and be cost-effective to use.

    ADVERT

  • Manage your own trading portfolio

    Manage your own trading portfolio

    The natural inclination for anyone that hears about a new means of making money is: “how do I get involved?” It is therefore only right to not just dangle the carrot in front of faces but also to share tips.

    Despite the fact that investing in shares, securities and now Cryptocurrency, as mentioned in the previous blog, comes with a very high risk. 

    Your portfolio can be managed carefully to minimize the risk and here is how. Before we progress, please note that this is not fail-safe advice but only a guide, so do take heed of our disclaimer.

    Preparation

    As a rule, this applies to any website offering advice. We would like to warn you that just like eating regularly at a fast food joint – the risks are clear.

    So if you know your appetite for risk or have a lack of financial discipline and take this as information gathering to enhance your awareness.


    Additionally, we would like to reiterate that running and maintaining your personal investment portfolio requires practice before jumping straight in.

    The first step is to identify the types of securities available. Research new articles and the respective financial statements. Once you’ve done that, start a free trial with an online trading account.

    There are several institutions offering online trading (each with its criteria for entry and for trading).


    Banks also offer this service but might charge a monthly service fee for it so the first step is to do a little shopping around.


    Not all online trading platforms are offered globally so one must find one that follows the financial compliance laws in your country/continent or territory.

    Taxation

    This is important because, like any other investment, your profits from trading are subject to tax (tax evasion is fraud). The type of tax, in this case, is Capital Gains Tax (CGT).


    This is payable as a percentage of up to 25% of your profits once you have closed a position and cashed out from the trading account.


    The CGT would have to be declared and paid for directly to your local authorities when you fill out your tax returns.


    There is still a grey area as to whether Cryptocurrencies are to be classified as taxable assets – which might work to your advantage.

    In Germany apparently, if you hold (without selling) Crypto on an online platform for more than a year – you are not liable for taxes.

    Nevertheless, be sure to factor CGT into your calculations, and don’t get caught out with that!

    The act of trading


    The actual trading itself requires some strategy. you should be including a combination of high risk and lower risk asset classes in your portfolio. ETFs and Equities are more on the “lower risk” side as they are purchased on a long-term outlook.


    Purchasing equities in well-grounded tech companies such as Amazon; Microsoft; Google; telecommunications and energy companies are considered as long buying. We highly recommend this option.



    However, while you sit on those over the months or years you would still want to make some short-term gains. This is where your high-risk high returns securities (Forex, Indices, Options, and Cryptos) come into play.

    As a rule of thumb, your high-risk assets should only be between 15-20% or less of your overall portfolio.


    This way any losses incurred can be absorbed or regained over the following few months allowing you to accumulate more stable/longer-term equities.

    Like a business, your trading portfolio can grow exponentially if you continue to re-invest your gains-profits.

    Your gains made in the short-term can be used to purchase the next long-term security. But n case of emergencies, they can be withdrawn to cover other needs (holidays, unexpected debts). It is better to regard your collective portfolio as a long-term asset.

    Four quick basic steps to getting into trading.

    Step 1:

    Decide on an amount outside your other investment vehicles (property, savings, mutual funds, or bonds) that you would set aside for trading. Again, this must only be a fraction of your overall investment.


    Most online trading platforms require a minimum amount to open a trading account of between 50 – 200 USD/EURs (you can use that amount for trading).


    You will need to ensure you have a good enough Laptop/PC and broadband with all the required security software installed. You can also use your mobile phone for short-term securities such as for binary options etc.


    Platforms such as IQOption and are available via Apps for phones and tablets as well.

    Step 2:

    Before choosing the platform, make sure you understand the costs to be incurred while trading (it’s wise to compare options).

    One main charge is commission. You pay it with a purchase of an online traded asset, interest from leverage (margin trading) to purchase the asset, deposit fees, and some even charge for withdrawal of funds.

    So, while one platform may charge a 0% commission on trading with some securities, they may offer other securities that require leverage or just charge a higher deposit fee. They are after all there to make money as well.

    Use your free trial to work out which pricing model suits your trading needs in addition to learning the market trends and getting a handle on technical analysis tools.

    Click here to see a video below of one of such tools.

    As part of the service, you would also get access to online chat, a personal assistant to call during office hours about anything to do with your account/portfolio and the option to upgrade your account. So you are never on your own really!


    Some trading platforms offer you benefits (in the form of cashable tokens or direct cash commission) for trading profitably, referring someone onto the platform and when they make money.


    One such platform called eToro is known as a social trading platform.
    It allows you to “shadow” successful traders and pays “leaders” handsomely in return for the number of “followers” you acquire.


    Many platforms like IQOption will reward you if the person you referred makes profitable sales of their assets. This comes in the form of a direct cash commission paid to their account.

    Step 3:

    So now that you have familiarised yourself with the tools, and have analyzed the technical aspects of the platform, you can begin real-time trading. This means switching from a trial to a paid account. You will need to provide your banking details (chequing account, credit card, or digital wallet). This is where deposits and withdrawals will be made from.


    Most platforms, which are usually located in your geographical region, allow you to pay from your local (debit) bank account, a PayPal, or other types of online money transfer services.


    The next step, which is important for security from both parties as well as for the financial and monetary authorities, is account verification.

    You will need multiple forms of identity: passport, proof of residence, social security or tax reference number, and of course contact details such as email and mobile (cell) phone number for various forms of authentication (e.g. two-step authentication to protect your account from unauthorized access or in case of password resets).

    Once completed and have been approved/verified you are good to go! This can all take 30 mins (and processed online) if you have everything in place.

    Step 4:

    The final step to running your own successful trading portfolio is to exercise the skill of patience. Learn to watch the market trends and do not act on impulse.


    The rule is simple: buy low and hold. Selling should only be done if you have credible information on the impending total meltdown of a company you own shares in. Otherwise, like a rollercoaster, be prepared to watch your stocks go up and down.


    When it comes to the risk of a downward trend you will have the tools on most of the platforms to help you control losses from price movements automatically (Stop Loss). with this tool, you don’t have to always be glued to your PC to monitor the longer-term securities.


    Binary Options (illegal in some countries) are different though and require quick execution of trades. Have a look at the first section of the resources page to familiarise yourself with how high-risk securities work.


    But for all others, you will have tools such as stop-loss orders, take profit/limit orders, pending orders, and trailing stop orders. These will help you protect your profits and prevent colossal losses.
    Go forth and make a fortune – or at least some passive income and a decently rewarding long-term investment supplement!

    Start with a demo trading account now!

    RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK.

  • The Big ‘Crypture’

    The Big ‘Crypture’

    I’m not quite sure if anyone has given some careful thought – in the heat of this ‘Crypto mania’. More specifically, have you ever considered the ramifications of the blockchain and its impact on the global economy?

    This is an attempt to perform a calculated prophecy, based on the conversations we’ve had with like-minded visionaries.


    An introspection into this ‘much-talked-about technology’ has led to endless possibilities.

    Presently, every Tom, Anastasia, and Patel are pursuing short-term gains. You are all probably investigating ways in which they too can “cash in” by investing in new digital currencies.

    This frenzy is mainly driven by how some of the altcoins are performing in value. Some digital coins are rising as much as 1000% in a ‘Crypto bull-run’. But the real appeal for digital “currencies” comes from the security, speed, and cost of transactions they facilitate.

    A case for Cryptos

    Most of you are understandably looking at it solely from an investment point of view – after all,  greed never sleeps.

    Also, let’s not forget the anonymity it affords one – great for criminals and money launderers. Because of the increased risk, monetary authorities and regulatory bodies will make a case for tighter controls.

    They may even push for the outright banning of this new currency altogether.


    Retail banks, are currently entrusted with the movement of your funds (electronic transfers) and are governed by economic monetary policy. This happens under the watchful eye of big brother – the Reserve Bank.

    These commercial banks are the “primary targets” so to say of the blockchain. They were, therefore, the first to react by investing or attempting to start up their own blockchains.


    Such projects, however, prove to be expensive and still risky ventures given that no-one knows the source and destination of the blockchain.

    Banks are nevertheless having to either make quick decisions about whether they get on board or partner with developers of Cryptos such as Ripple).

    We also look at other financial institutions such as credit lending facilities and money transfer institutions. They are also are naturally in partnerships with the banks. They, however, stand to get wiped out by the blockchain if you think about it.

    Really, who would want to cough up a 10% commission or a transfer fee for money sent abroad to your family? You could simply use something like IOTA which, by the way, is as a Crypto hovering around 3-5 USD (at time of publishing) per unit.

    It is capable of transacting very quickly and securely with no transaction fees!

    And how so you may ask? Those details are listed clearly on their respective websites.

    Peer review functionality

    It is the belief that the plan for Cryptos’ was to enable anyone to have access to a shared (decentralized) peer-to-peer type service that enables the secure transacting of literally – anything!

    You can look at the blockchain working in the same manner as BitTorrent or E-Mule (for those who remember that far back). In the way, that data, albeit mostly bootlegged music, videos, and software, was distributed and downloaded on the web.

    “Blockchain is essentially a quick peer-to-peer transaction of digital currency”

    The value of Cryptocurrencies is now driven by how well it works as a system. You must look more closely at the added value it can offer society from a functional, practical, convenient, and of course, cost-saving perspective.

    A real threat?

    So, what does that then mean for companies like Visa, Mastercard, or even a digital banking app like PayPal?

    You can also imagine the implications for investment banks and their traders. That is if markets such as the very volatile foreign exchange (Forex) are completely abandoned and substituted by Cryptos.


    There are now many an exchange for Cryptos in the appearing monthly.
    You will be able to switch or trade Bitcoin for Ethereum, Litecoin, IOTA, or Ripple.

    Handy if you need them quickly for a specific transaction, country, or product that accepts digital currency.

    More practical uses of Crypto

    The purpose of ‘Cryptos’ running on the blockchain is, therefore, to change the way we transact and pay for goods and services.


    The aim was to make it a ‘form of exchange’ but also to provide the resources for you to “mine” and own them.  This can be an alternative income generator alleviating the need for job creation. It can also be a substitute vocation for those you who were perhaps made redundant by automation and AI.

    So, once you mine the currency (provided you have the infrastructure and pay the overheads), you can use it to get the things you need or must pay for.
    Your electricity bill, for example, can then be processed and paid for directly from an IOTA-holding wallet.


    Speaking of electricity, we came across a very insightful article (referenced in the resource section) focusing on the impact of energy consumption that global rampant mining will cause the price of electricity and the environment.

    Coupled with the switch to electric cars this could surely force you to invest in better ways to generate electricity. That is if we are to maintain sensible levels of sustainability.

    Whether the price of electricity goes up or down will be determined by how quickly energy providers globally will be able to meet this surging demand.

    We can surely be in a position to observe the upcoming impact on electricity consumption from next year.

    More and more of the global population are beginning to mine altcoins for themselves.

    As we head into the festive season and bonuses are being paid out, be responsible for how you splash out. Do your research first – even if it means waiting a year to see how it all plays out.

  • The big Crypt-ture

    The big Crypt-ture

    I’m not quite sure if anyone has given some careful thought, whilst in the heat of this Crypto mania, to the actual ramifications of the blockchain and its impact on the global economy. So, this is an attempt to perform a calculated prophecy, based on the conversations had with like-minded visionaries. An introspection into this much talked about technology has led to endless possibilities and here is how:

    Presently, every Tom, Anastasia, and Patel are pursuing short-term gains. Relentlessly investigating ways in which they too can “cash in” on the new digital currency from an investment point of view. This is mainly driven by how the altcoin is performing in value. But the real appeal for each digital “currency” comes from the security, speed and of the transactions it permits, as well as the fact that it is decentralized, free from additional admin charges and commissions.

    Also, let’s not forget the anonymity it affords one – great for criminals, money launderers. Because of the increased risk, monetary authorities and regulatory bodies will definitely make a case for the tighter controls or the outright banning of this new currency altogether.

    Retail and commercial banks, are currently entrusted with the movement of funds (electronic transfers) and are governed by economic monetary policy set up by the watchful eye of their big brothers – the Reserve Banks. These are the “primary targets” so to say of the blockchain, and were, therefore, the first to react by investing or attempting to start up their own blockchains. Such projects, however, prove to be expensive and still risky ventures given that no-one knows the source and destination of the blockchain.

    Banks are nevertheless having to either make quick decisions as to whether they get on board (some are partnering with developers of Cryptos such as Ripple), or get left in the dust when it comes to adopting a disruptor that clearly works better than what they are currently using or offering to their clients.

    But we also must look beyond banks towards institutions such as credit lending facilities and money transfer institutions, who also are in partnerships with the banks. They stand to get wiped out by the blockchain if you think about it. I mean, who will want to cough up a 10% commission or a transfer fee on money sent abroad to your family when you can use something like IOTA which, by the way, is as a Crypto hovering around 3-5 USD per unit. It is capable of transacting very quickly (even more so than the known altcoins as it uses a different technology altogether) and securely with no transaction fees. And how so you may ask? Those details are listed clearly on their respective websites. This begs the question – what does that then mean for companies like Visa, Mastercard or even PayPal?

    You can also imagine the implications for investment banks and its traders if markets such as the very volatile foreign exchange (Forex) are completely abandoned and substituted by Cryptos. There are now many an exchange for Cryptos in the appearing monthly.all coin logo

    So, you will be able to switch or trade Bitcoin for Ethereum, Litecoin, IOTA or Ripple if you need them for a specific transaction, country or product/service that only deals in that digital currency.

    While most people are understandably looking at it solely from an investment point of view – as greed never sleeps – its purpose is actually about changing the way we transact and pay for goods and services. The aim is to make it a currency not only accessible to attain but also if you have the resources to “mine “and own them, can be an alternative income generator alleviating the need for job creation – or a substitute for those who are perhaps made redundant by Automation and AI. So, once you mine the currency (provided you have the infrastructure and pay the overheads), you can use it to get the things you need or must pay for. e.g. your electricity bill can be processed and paid for directly from an IOTA-holding wallet.

    And speaking of electricity, I came across a very insightful article (referenced in the resource section) focusing on the impact energy consumption that global rampant mining will cause the price of electricity and the environment. Coupled with the switch to electric cars this could surely force us to invest in better ways to generate electricity if we are to maintain sensible levels of sustainability.

    Whether the price of electricity goes up or down will be determined by how quickly energy providers globally will be able to meet this surging demand. We can surely be in a position to observe the upcoming impact on electricity consumption from next year as more and more of the global population begin to mine altcoins for themselves.

    I also believe that the initial plan for Cryptos’ was to enable anyone to have access to a shared (decentralized) peer-to-peer type service which allows for secure transacting. One can look at the blockchain working in the same manner as BitTorrent or E-Mule (for those who remember that far back). In the way, that data, albeit mostly bootlegged music, videos, and software, was distributed and downloaded on the web.

    “Blockchain is essentially a quick peer-to-peer transaction of digital currency”

    So, while the value of Cryptocurrencies is now driven by a demand in terms of how well it works as a system, we must also look more closely at the added value it can offer society from a functional, practical, convenient and of course, cost-saving perspective.

    As we head into the festive season and bonuses are being paid out, be responsible for how you splash out. Do your research first – even if it means waiting a year to see how it all plays out.

     

     

  • Run your business on cruise control

    Run your business on cruise control

    Are you running your business as you did in the eighties, nineties? If so, you are probably working like a donkey and for the same kind of income – if you are even making any!

    Business automation has developed albeit quite slowly, over decades. It was accelerated significantly via the “www “.  And now even more so with the Internet of Things (IoT).

    Ways of doing business

    Let’s begin looking at communication – a key pillar in running any successful venture. Getting in touch with your clients can now occur in numerous ways.


    We have come a long way from shouting on street corners to invading people’s places of comfort with door-to-door sales visits.


    We can now get in touch physically via phone, Skype, Emails, online chatting, video-conferencing, and social media.


    And though it may sound like overkill, using these tools can actually help save you time and target your products effectively.

    This makes them efficient and worth every penny you spend on them.
    Hosting your email nowadays does not require the expertise of IT professionals.


    Likewise, IT pros are now discovering they have more time to perform administrative work (productivity reports). 

    As an IT expert, you must hate having to walk from PC to PC to install software. Such ‘excursions’ can consume hours during the day and, probably gets on the nerves of people trying to get work done.

    Hands-free IT

    As an IT pro, you can now administer and carry out IT-related tasks from the comfort of your office. You can even do it remotely from your, laptop, or your smartphone!


    So now, your emails can now be hosted with a few clicks. You can then receive them instantaneously on your desktops, mobile phones with a syncing feature. This is made possible by a newer mail protocol known as Simple Mail Transfer Protocol (SMTP).


    You can now synchronize your emails, calendars, and events, and contacts on your devices using Microsoft Exchange Online services.

    These are strenuous tasks that you would have had to manually create using special scripted rules. Tools like PowerShell, patches, domain routers would have to be applied to a physical server to enable such functionality.

    The cloud has made this all possible. We will not get into the intricacies and workings of the cloud but we have seen a massive uptake of it.


    Companies of all sizes, countries, and industries are moving to the cloud.
    This uptake of cloud services is happening on a regular basis as old servers are being made redundant and getting subjected to creative destruction.

    Software for hire

    Software as a Service (SaaS), is basically the hiring of software rather than owning it and leaving the maintenance to the software provider.


    Major cloud players such as Microsoft Azure, and Google Business, offer you the software just as a front-end and user-friendly application.


    They take care of the ‘back-end’ operations such as backups, updates, and upgrades, security, and compliance. All that for an annual or monthly fee.


    You can liken this to hire-purchase or the car leasing services that the automobile industry offers its clients.


    Our car servicing and maintenance are performed timeously by the manufacturer. You just drive it and pay for your own fuel on top of the monthly leasing fees. Such a service can even be monetized using Cryptos such as IOTA.

    Great collaboration tools

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    Another daunting yet integral task in running a business is the act of hosting meetings. Business meetings are often rescheduled as easily as procrastinating a spring cleaning exercise.

    Tools that facilitate online meetings like Skype for Business or Google’s Meet, allow you to schedule meetings from your calendar. This will send you and your meeting participants a reminder. With a click of a button, you can join, host or participate in an HD video or audio conference call.


    This can be done from wherever you are on the globe as long as you have a good enough broadband connection.

    The kicker with this tool is the ability to present your full (hopefully clean and avoid any embarrassing items) desktop, to all participants.

    So, you can present an Excel spreadsheet of financial data, discuss the design of a brochure or flyer for marketing, or run a PowerPoint presentation. The apps come even complete with an infrared pointer!

    For more solutions, have a look at the previous blog on sales software and CRM systems. This will help you understand a bit more about how SaaS can help grow revenue for your business.

    Good broadband is key

    Again, these services obviously require great Internet connectivity. This might also be the only stumbling block deterring many smaller companies and some big data-sensitive firms from taking on the cloud.

    But as Internet Service Providers (ISPs) and local governments are now actively getting involved in making broadband a necessity for us.

    There are endless possibilities that the cloud and good software, in general, can offer your business.

    No one wants to spend hours in traffic leading to stress at work or home. You also wouldn’t want to spend large budgets on unnecessary travel, marketing, and communication tools that are not effective.

    We are not fully in favour of substituting your human interactions with technology.  It will, nevertheless, help you to find ways to bridge the gap when you find that personal contact is not possible.

    Allow software automation to help you!

  • Out with the old school…

    Out with the old school…

    Creative destruction has become our new favourite buzzword. It also aptly describes this new wave or phenomenon of Crypto-mania driven by the blockchain and its shining star – the Bitcoin.

    Suddenly, people who normally would not bat an eye at trading are now asking how to invest in Crypto.

    Bitcoin

    We must note that anything that goes up very abruptly and abnormally – eventually comes tumbling down. The same way the big dot.com bubble burst and left many in dire straits after they over-indulged in overvalued tech companies.

    Turbulent history

    Bitcoin will eventually find its peak and there will be a mass sell-out and a ‘crash’ at some point.

    We even had the likes of an ironical skeptic – the dubious Ponzi-scammer dubbed ‘the Wolf of Wall Street’ Joel Belmont. He attempted to pre-empt a crash of Bitcoin.

    The funny thing is, however, most of the critics are people who have not invested themselves. Perhaps they suffer from a case of ‘sour grapes’ or they simply don’t understand how it works to even get involved.

    Doubt is prompted by fear of an unknown. Most investors themselves don’t understand the complex algorithms that went into designing the blockchain. However, it is proving to be resilient and gaining intrinsic value by the day.

    A new industry borne

    Bitcoin (at the time of writing), which was hovering around $17000 after breaking its latest resistance level, and poised to reach the $20000-mark.

    Creative destruction does not result in the reinventing of the wheel. It does, however, make the previous version look ancient very quickly. So while Bitcoins may not even last long, it has brought about its add-ons or spill-over effects.

    There are now hundreds of cryptocurrencies. While not all and most will not experience huge price surges like that of Bitcoin, Ethereum, or recently Dash, they are still in circulation.

    One of the spill-over effect includes the creation of jobs for new entrepreneurs, gamers, and developers across the globe.

    Though it might be too late for investors to delve into the above-mentioned ‘big boys of crypto’, institutions are constantly developing blockchain solutions.

    The fact of the matter is that the use and process of a blockchain makes sense and will, and is in the process of removing the old currency system.


    Now, this may take a while before it completely phases out fiat money. This will also hopefully, much to the delight of governments and fiscal authorities, help eradicate the scourge of counterfeiting. 

    Applications of blockchain

    tesla-1738969_1920

    Think about the big picture, the blockchain technology will allow you or any institution smart enough to copy or modify a part of the anonymously written code. Blockchain is open-source, so anyone smart enough can create their own.


    We can now have Crypto for shopping, for buying cars; getting your salary paid by a multi-national company irrespective of where you are based; or paying for using Internet services (IoT).


    The latter already exists and is called IOTA – read more about it on the resources page.


    This technology can enable one to find creative ways to monetize a cryptocurrency to serve any purpose. This while providing a secure and lightning-quick means to transfer funds.


    Litecoin and Dash boast amazing speeds of under 10 seconds to complete international money transfers.


    It would be interesting to observe any bank try and beat that without charging an arm and leg for that type of service!

    The motor industry

    The critics, who thought Elon Musk was crazy for inventing electrically powered battery motors to run engines and now trucks – are now eating their shorts.

    Not only did Tesla´s market capitalization beat that of Ford and recently BMW, but it also outperformed petro/diesel-powered vehicle companies. Outdoing them in speed and performance, attractive looks, and practicality – Tesla is changing the motor industry.

    Manufacturers like Volvo, Porsche have now rolled out their own hybrids cars. They are looking to go the route of fully electric motors within a short matter of years.

    Such notable paradigm shifts in the way we do things embody the beautiful concept of creative destruction. Those that shun it get left behind.
    And while it is not all about the monetary gains, you can own the coins to use for transactions rather than for investment.

    It will serve you better, in the long run, to get in the know of what is out there.

    Beware of scammers

    Be wary and vigilant, as like with money and investment, there are sharks out there (offering deals). The aim is to exploit you and many other unknowing technophobes looking to make a quick buck or two from Crypto.

    Mining Cryptocurrencies (is particularly conducive for gaming enthusiasts) and using them to benefit you quickly and securely in the way of a new digitized future.

    Some Internet pirates in desperation use anonymous digital currency such as Monero. They now use java-scripted mining devices (hidden behind ads) to drain hash power unsuspecting from your web-page browsers.

    The way forward

    Everyone is trying to get a piece of the action! There are also legitimate paid commission-based add-ons for trading as well – opening up a new world of digital earning online.

    Don’t get left behind. But as with any investment, and a caution to the wise: Cryptocurrencies are highly volatile, and should not substitute any investment portfolio. They should only and always account for a fraction of your overall investment.

  • Rise of the machines

    Rise of the machines

    As a young man born in and living in Pretoria South Africa, multi-billionaire Elon Musk – better known for pioneering the Tesla battery-operated motor concept – was shunned by the Industrial Development Corporation several times.

    His innovative ideas were denied financial backing so he moved to the USA for better support. The rest as we all know is history.


    The futuristic thinker, however, took a rather skeptical and worrisome handbrake-turn when it came to the topic of artificial intelligence (AI) and its benefits to society.


    When a man like that with so much insight into technology warns of its potentially harming effects, it warrants notice. Musk warned that its use could foster ‘the coming of third world war’. We have to for such reasons,  delve a little deeper into the topic.


    We have rapidly progressed from longer periods of stone, iron, industrial, to that of space, technological/information ages. The world is now apparently fused between the latter three.


    Despite skipping a few ‘crucial’ stages, we have now surged into the age of digital automation. This is while sadly still dealing with the ravages of poverty, disease, and irreversible damage to our environment.

    Automation & AI usage

    Automation is helping business through software like ERPs that take over traditional back-office finance and operations.


    In the IT industry, the Internet of things (IoT), cloud services, and general Software as a Service (SaaS) have simplified things for IT managers. You can now just monitor and attend to more pertinent issues and tasks (hopefully not just stream movies and play games on duty).


    While seated comfortably, you will be able to now perform tasks such as deploying new software, installing/removing updates on multiple machines/devices simultaneously. All with a push of a few buttons.

    Trading bots

    In the high-risk investment scene, automation has given traders more room for better research and analysis Thus relieving you from the known stresses and mundane tasks associated with trading.


    For many trading houses and brokers, AI has even completely taken over the mundane task of making and executing trades.

    iqoption
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    If you haven’t already, read this great book entitled: The Fear Index (thriller by Robert Harris). Though fiction, it illustrates the use of a machine learning tool using algorithms to help a hedge fund company generate billions for its investors.


    The use of AI is not without fault. It can also lead to costly system-generated errors like the trading error a few years at Goldman Sachs cost the firm $100 million and other cases.

    Other use cases

    It can still, on a ‘micro’ level, help free human capital (individuals) from PC-related issues. So things like having stress, headaches, backaches, and lack of time spent with family and friends can be a thing of the past.


    In the industrial and manufacturing sectors, the advent of AI creates even more of a fear and a concern. The number (staffing) of redundancies, may increase when it is introduced.


    This would require careful planning to ensure the blue-collars that are ‘replaced’, are compensated. More so, they would need to be incorporated into different areas of businesses.

    Limits of robotics

    Obviously, not every task need to be automated or performed by robots. We (as humans) are still required to check-up, inspect, and perform quality checks for instance.
    We can, as a result, deal with inter-personal jobs that require more empathy like in customer and social service.


    Human resources or getting into corporate social responsibility (CSI) projects that reach out to communities.

    Embracing it

    More importantly, policies by governments will need to focus ever so more on job-creation. Governments must now adopt innovative means of creating jobs or foster and supporting entrepreneurship. Projects like those of Mr. Tesla/Mr. PayPal/Mr. SpaceX has created thousands of new jobs.


    As for the use of AI in weaponry and military defense systems, the less said the better. When it comes to privacy and security concerns we can only hope that rogue politicians don’t get unregulated access to such technology. In such a case we would only be able to protest and hope not to feature in a real-life James Cameron sequel to Judgment Day.
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