New to market and bound to make a mint, please forward your crowd funding spondulicks to me.
The hard truth.
Last week was yet another fun week in the field of crypto-currencies, and a very busy one for the crypto-hackers, not to mention profitable. Ethereum was the main target, and three separate companies were hit, that we know about at least.
Swarm City, Edgeless Casino and Aeternity had tokens worth around $32million diverted before the hack was closed. If the hack had occurred earlier in the month its monetary value would have been even more, as previously the coin was trading at a high of $395, though now it’s slumped back closer to $216.
That little tickle was over and above the hack which hit CoinDash ten days ago, that netted $7million in minutes.
So what is the ‘hard truth’? Well you never know how much your Wallet is actually worth for one thing – though the coin purists would point out that by staying inside the crypto-environment it doesn’t matter.
The other truth is that the ‘coin environment’ is slightly wilder than the Wild West ever was!
In the spirit of investigative journalism, don’t know why that came over me, I checked out good old Wikipedia on the topic. It can’t actually be said any better than they state it; ‘There were more than 900 cryptocurrencies available over the internet as of 11 July 2017’ – thank you Wiki.
That’s about four times more crypto’s than actual fiat currencies in the real World!
There is one called ‘PotCoin’, and yes, your right, it’s used for the cannabis industry; there’s even a ‘TiTCoin’ and yes, it’s been nominated for an Adult Industry award. This level of chaos can’t be helping the serious developers who really do see how BlockChain can help make peoples lives better.
No, that’s not a mis-spelling from the TiTCoin comments, it’s a real thing which ‘should’ be happening on August 1st. 2017, around 00.00.01 UTC. It’s about BitCoin and it’s about curing the scalability issues now facing the best known of all the crypto’s. Problem is, not everyone agrees as to how or even if it should be done – back to the chaos issues.
None of this helps the Gaming Industry one bit, the one thing we need is structures with which we can plan and develop from. Erratic pricing, hacking thefts and unformed incomplete payment routes just don’t cut it for us.
One thing you can bet on – WE don’t play on games where the rules aren’t known.