Cryptocurrency Lolcows -

millais

The Yellow Rose of Victoria, Texas
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African to finance construction of real life Wakanda in Senegal via crypto scheme
https://www.bbc.com/news/world-africa-44574969
Image copyrightGETTY IMAGES
Image captionAkon released his debut album, Trouble, in 2004

Akon has announced plans to build a "real-life Wakanda" in Senegal, built on the back of his almost-eponymous cryptocurrency, Akoin.

Which - as anyone who has watched Black Panther, and seen Marvel's imagined city, will understand - sounds rather magical.

The government appears to agree: the 41-year-old told crowds at Cannes Lions on Monday he had been gifted a not insubstantial 2,000 acres of land to start the project off.

But as far as we know, neither Senegal nor Akon have their own supply of vibranium - the fictional metal which gave Wakanda its wealth and power - and cities don't come cheap.

Which has left us wondering: what is going on?

Where exactly is this real-life Wakanda?
It is unclear. The BBC has tried to contact the government and Akon's representatives to find out more about the gift - to no avail.

However, we can try to pinpoint these 2,000 acres - the equivalent of 2,000 football fields - by what Akon's own website tells us: it is within five minutes of the new international airport, and a short drive from the capital, Dakar.

Image copyrightAKOIN
Image captionThis drawing appears on Akoin's website, showing what his version of Wakanda might look like
Which sounds very much like he may be talking about Diamniadio, the new city currently under development. The idea for the new city was first unveiled about three years ago, and is part of President Macky Sall's wider scheme to revitalise Senegal's economy.

There is another bit of evidence which suggests this and Akon Crypto City are one and the same: the picture of his new Wakanda includes some of the same buildings which appear on promotional material for Diamniadio Lake City, an exclusive development boasting high-end flats, houses and penthouses.

If this is Wakanda, it seems Wakanda is not cheap.

But how much will it cost?
The short answer: a lot.

Diamniadio Lake City is costing about $2bn to construct, according to an article by FDI Intelligence.

Now Akon, who was born in the US to Senegalese parents, is reported to be worth a not insubstantial $80m (£60.3m), but even that falls a little short of the total bill.

Image copyrightSEMER INVESTMENT
Image captionThis is a picture of Diamniadio Lake City - which looks very much like the same place, albeit from a slightly different angle
However, on paper, this city-within-a-city does not appear to have anything to do with Akon. Instead, Diamniadio Lake City is being built by the Semer Group, which has offices in Dubai and Senegal.

Semer Group refused to comment on any relationship with the singer when contacted by the BBC - and of course, Akon may be talking about somewhere else entirely.

What about this cryptocurrency?
Akoin - the musician's cryptocurrency - will be at the centre of the city's "transactional life", according to the Akoin website.

But more than that, it will be "established as stable currency alternative throughout Africa".

"It brings the power back to the people and brings the security back into the currency system," Akon explained at Cannes Lions on Monday.

"It also allows the people to utilise it in ways where they can advance themselves and not allow government to do those things that are keeping them down."

However, when it comes to the details, he admitted he left "the geeks" to figure it out.

To the uninitiated, it sounds like a big ask, leaving some, like Michael Kimani, the chairman of the Blockchain Association of Kenya, sceptical - even if he understands Akon's desire to move Africa away from its dependence on Western currencies.

"I think it is pie-in-the-sky," he told the BBC.

Image copyrightAKOIN
Image captionAKoin's offical website details the plans for the new currency
Especially, he adds, across the continent: such a currency would need stability across Africa, as well as a large take-up, in order to work.

"I have seen the need for cryptocurrencies, but within the context of small communities," he explains. "If there is a small business community somewhere, they could really benefit from having their own currency."

And that doesn't take into account that Akoin appears to rely on a smartphone in order to work.

Is Senegal ready for an app-based economy?
The average wage in Senegal at the end of the last financial year was 96,206 CFA ($170; £128.50), according to APA News.

With Orange, one of Senegal's largest mobile phone providers, 2.5GB of data over the course of a month will set you back 5,000 CFA ($9; £7) - which is about 5% over the average income.

But even if they can afford it, how much of the population can actually download the app?

Image copyrightAKOIN
Because, while almost everyone in Senegal has a mobile phone, the latest statistics by the US-based Pew Research Centre suggest just 34% of the population have a smartphone.

So, at the moment, it doesn't seem likely that the entire country will be on a cryptocurrency run through an app anytime soon.

But what do the Senegalese think about it all?
Not much, according to the BBC's Alex Duval Smith in Dakar.

The announcement has not been widely picked up in Senegal, she says, and the president's spokesman did not respond to a request for comment.

What's more, amid World Cup fever, social media statistics show only a few dozen uses of #Akoin.
 

CrunkLord420

True & Honest Fan
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GethN7

Pederasts Should Be Gassed
True & Honest Fan
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Wat?

Correct me if I'm wrong, but crypto currency is essentially a digitized gold standard, and it too comes with greedy assholes, centralized institutions (generally online, but most crypto currency wind up being regulated by SOME semi-formal body in my experience), and I've seen both moonbats and wingnuts flock to crypto currency for their own reasons.

Besides most right wing ideologies tend to TRUST formalized institutions and are economic conservatives, which runs counter to libertarianism.
 

CrunkLord420

True & Honest Fan
kiwifarms.net
Wat?

Correct me if I'm wrong, but crypto currency is essentially a digitized gold standard, and it too comes with greedy assholes, centralized institutions (generally online, but most crypto currency wind up being regulated by SOME semi-formal body in my experience), and I've seen both moonbats and wingnuts flock to crypto currency for their own reasons.

Besides most right wing ideologies tend to TRUST formalized institutions and are economic conservatives, which runs counter to libertarianism.
You see this type of sentiment a lot from pseudo-commie SJW-types who believe libertarianism (and capitalism in general) is fascist. It's crazy to see an actual NYU professor say this type of shit, though.

He's not just some random professor either, this is the guy who is going in front US Senate Banking Committee to argue against cryptocurrencies on a regular basis. Here's him from 2 days ago. [Timestamp: 6:29]
 
Reactions: Pop-Tart and Marvin

MarineTrainedTard

Climb into my mouth
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I was with him until the end... Distrust of corporations and especially centralized governments is, like, the opposite of fascism. I don't think the Nazis or the Italian Fascists supported lessening the power of the government.


Like, everything was fine until "Fascism at its core!" and then it's like, uh.... what?
 

Pop-Tart

True & Honest Fan
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I was with him until the end... Distrust of corporations and especially centralized governments is, like, the opposite of fascism. I don't think the Nazis or the Italian Fascists supported lessening the power of the government.


Like, everything was fine until "Fascism at its core!" and then it's like, uh.... what?
Something something late stage capitalism. Something something capitalism is gonna collapse this time for sure. Honestly you could use the "This time Nintendo is finished for sure" shitpost in this context and it would work.
 
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Reactions: Marvin

LastOfTheMohicans

kiwifarms.net
Wat?

Correct me if I'm wrong, but crypto currency is essentially a digitized gold standard, and it too comes with greedy assholes, centralized institutions (generally online, but most crypto currency wind up being regulated by SOME semi-formal body in my experience), and I've seen both moonbats and wingnuts flock to crypto currency for their own reasons.

Besides most right wing ideologies tend to TRUST formalized institutions and are economic conservatives, which runs counter to libertarianism.
This motherfucker has been showing up in my Twitter real recently.

I'm pretty convinced something triggered him into a full psychotic break. He kinda hopped up out of the bushes and has been talking intense shit about crypto for several days now.
 
Reactions: millais

CrunkLord420

True & Honest Fan
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Ms. Cegination

AKA Jean Poole
kiwifarms.net

CrunkLord420

True & Honest Fan
kiwifarms.net
Roger Ver and Craig Wright are fighting over the Bcash hardfork.
upload_2018-11-8_11-2-34.png


https://twitter.com/ProfFaustus/status/1060629357708877825 (https://archive.fo/ioPme)
upload_2018-11-8_14-32-18.png


Jihan Wu gets removed from his director position at Bitmain, is now a "supervisor" ahead of their IPO. Bitmain is cleaning house after Jihan got memed by lolcows like Roger Ver and Craig Wright and lost the company tons of money. https://bitcoinist.com/bitmain-jihan-wu-no-influence/ (https://archive.fo/i9piu)
Bitmain No Longer Under Influence of Jihan Wu, Says Lawyer

Esther Kim
| Nov 13, 2018 | 06:00


Bitmain co-founder Jihan Wu no longer has influence over the company’s decision-making processes after an executive board reshuffle, a lawyer told local media November 12.

Wu Now ‘Supervisor’
As Sanyan Blockchain reports, the mining giant altered the make-up of its board last week. Among the changes, Wu’s position went from a director to a “supervisor,” which leaves him unable to vote in board decisions.

“After changing to a supervisor, there is no voting right, so one’s power is smaller and one cannot participate in the business decision-making of the enterprise,” the publication quotes the lawyer, Tian Yangang, as saying.


Jihan Wu with Winklevoss twins

(Wu) can only exist in a supervisory role.

Bitmain is currently going through a significant metamorphosis as a company ahead of plans to begin an initial public offering (IPO).

The board stunt appears timed to coincide with the release of the company’s latest Bitcoin miner the Antminer S15, which it released and subsequently sold out of last week.

Bitmain Turbulence Continues
At the same time, controversy continues to brew over the practices of Bitmain-controlled mining pools, Bitcoinist reporting on how Antpool had stopped mining SegWit blocks despite losing revenue in doing so.

Wu was worth at least $2 billion through his 20.25 percent share of Bitmain in October, while fellow senior executive Ketuan Zhen’s 36 percent stake means he is worth considerably more – around $4 billion.

Multiple Chinese mining players including Bitmain have felt the pinch from the ongoing US-China trade war, creating ever more pressure on finances for the former ahead of any planned IPO initiation.

“All manufacturers of mining rigs based in China will likely be affected by the tariff code change and, in turn, captured by the US trade tariff,” Ben Gagnon, co-founder of Bitcoin mining hardware developer LuTech, told South China Morning Post in comments mid last month.
https://twitter.com/JihanWu/status/1060740771723137024 (https://archive.fo/LIHZ6)
upload_2018-11-13_5-19-12.png
 
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Sparky Lurker

kiwifarms.net
Recently I discovered the last dude I made a thread on the International Clique (Psycl0n) created the Bolsocoin on late 2017 :
https://bitcointalk.org/index.php?topic=2375892.0
https://github.com/psycl0n/BolsoCoin

What is Bolsocoin?
Bolsocoin is a fork version of Litecoin.

  • subsidy starts in 1488 coins
  • 30 seconds block targets
  • subsidy halves after 10k blocks
  • subsidy fixed in 5 coins after 50k blocks
  • ~842 million total coins
License
Bolsocoin is released under the terms of the MIT license. See COPYING for more information or see http://opensource.org/licenses/MIT.

Why 1488 ?
Bolsocoin aims to be the first alt-right community crypto-currency.

Development ?
Just submit your Pull Request.

This is ALPHA release. Bugs are expected

Supporting imageboards:
Dogolachan

Useful links:
Block Explorer

Web Wallet

Active pools:
http://niobio.dogolachan.org:8181

http://altcoin.mine-pool.ro/
The name is a homage to Jair Bolsonaro, the coin was created with the sole purpose to trade for doxing info and swatting events on his personal deepweb board (dogolachan), of course development was ceased, since on May he got arrested for cybercrimes and got a sentence of 41 years on jail.

Here is some pearls of his on that thread:
I don't know what you are talking about.
Me and my friends created this coin as a project to study the Blockchain.
We are planning some changes at block 80k.

I will create another coin.
The INCELcoin. The monetary unit will be RODGER.
The coin will have the supreme gentleman, a.k.a Elliot Rodger in the face.

But i will still be supporting BolsoCoin.
Bolsocoin aims to be ONLY "Bolsonaro themed" crypto.
Our competitors doesn't even have a block explorer or a master node.
We have block explorer, web wallet and supporters from the alt-right comunity.

We need international support on this to this crypto gets mainstream attention and rages antifa and feminist scum.

We will also planning a faucet.
 
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underscoredash

kiwifarms.net
Jihan Wu gets removed from his director position at Bitmain, is now a "supervisor" ahead of their IPO. Bitmain is cleaning house after Jihan got memed by lolcows like Roger Ver and Craig Wright and lost the company tons of money. https://bitcoinist.com/bitmain-jihan-wu-no-influence/ (https://archive.fo/i9piu)


https://twitter.com/JihanWu/status/1060740771723137024 (https://archive.fo/LIHZ6)
View attachment 591833
The stuff you post cuts deep as reminders of everything wrong with this space. I hope one day for KF to have reasons to go nuclear on these fucks.
 

CrunkLord420

True & Honest Fan
kiwifarms.net

Solzhenitsyn

pls pet
True & Honest Fan
kiwifarms.net
So Gerald Cotton, the founder of QuadrigaCX, a popular Canadian cryptocurrency exchange, died in India about a month or so ago.
Trouble is: Cotton was the only one who knew the passwords for most of the cold storage wallets where they kept the money. And he didn't write them down.
As much as $262 million might be gone forever. Sorry for your loss.
https://www.gizmodo.com.au/2019/02/crypto-exchange-says-it-cant-repay-262-million-to-clients-after-founder-dies-with-only-password/
Apparently there's also evidence that currency is still moving out of the wallets, though some people are saying it's bullshit so idk.

Needless to say, cryptocurrency fans have taken this news calmly and reasonably as always. Just kidding. Current theory is that the man himself has pulled the ultimate exit scam.
crypto1.png

crypto2.png
 
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