Featured

Coinbase Generates $1.9B in Transaction Revenue

The largest crypto trading platform in the United States, Coinbase, has raked in almost 2 billion USD in Q2, shattering estimates. Previously, the platform was expected to turnover 1.57 billion in transaction revenue, however, following growth to 8.8 million monthly transacting users (MTUs), the exchange’s earnings shot up dramatically. This upward momentum was also due in part to the fact that over 9,000 financial institutions are now utilising Coinbase for the purposes of creating their own crypto products. The exchange also named several of its new partners in the most recent report, including (but not limited to) PNC Bank, WisdomTree Investments, SpaceX, Elon Musk, and Tesla. However, it wasn’t all good news, with July’s MTUs seeing a small drop-off, and the platform warning that Q3 is projected to show further contraction. The report went on to state: “However, the crypto industry continues to evolve rapidly and we anticipate volatility in our industry will persist in the near term resulting in unpredictable quarterly financial results. We are no stranger to a fast pace of innovation and volatility, and we remain focused on long-term execution throughout crypto price cycles.” As to be expected, in the wake of this, Coinbase shares immediately followed suit, and also shot up in the hours following the report’s release, now sitting at around 7% above their reference price of $250, but still 30% down from their opening trade price. Considering the massive volatility that some larger cryptocurrencies have seen in the past few months, and the fear instilled in many newbie traders as result, what Q3 truly holds in store for the platform is anyone’s guess

#Cryptonews
15 September, 2021
Latest
What’s the True Value of Cryptocurrency?

Value is something marvellous we strive for in everything. Both in our personal and professional lives. When you think about it, everything is about value, efficiency, and optimization these days.  So, now, more than ever, people (including you and me) are aware of the existence of cryptocurrencies. Plus ‒ we’re all becoming even more knowledgeable about the benefits crypto is able to bring in the future, i.e., on the government level, education-wise, all-around better quality of life, etc.  But for the master plan to work, it’s absolutely vital that there be a simple solution to exchange fiat currencies into crypto, as well as the reverse. The price of this “digital money” should not, nor need be, based on supply and demand. Read about the subject of value in one of our previous blog posts about price vs valuation. Don’t dwell on the past. Look to the horizon. Back when it all kicked off, we witnessed massive fluctuations in the prices of all of the cryptocurrencies. This issue is precisely the reason that was keeping merchants away from accepting non-fiat currencies. What also happens is when crypto prices rise, folks become super active, engage in crazy promotions, and provide ridiculous promises. Then when the price falls they get scared and step on the safe side, and become extra cautious.  Fluctuation, of course, slows down, firstly, the spread, and secondly, the mass adoption of cryptocurrencies. Therefore, the value should depend on real measurables, not on the currently agreed-upon ones.  We believe that cryptocurrencies should be treated as money, not as financial instruments. We’re absolutely convinced that the value should be based on the users, merchants, and usability. So, if you want to be a winner, well, then start accepting dags.  The more possibilities there are for using the coins, and the more people that have and use them, the more valuable it becomes. Value adds even more value. Simple.    The magic word is usability (and time) A strong indicator for evaluating cryptocurrency is its usage – meaning the number of transactions performed using the coins. This doesn’t include transactions done on the exchanges, aka trading platforms, but ones completed in real life, for example., sending funds between people and buying items from the merchants.  However, coin usage shouldn’t be taken into account just yet, as the world has only just started to see the whole picture, trusting it, and therefore moving closer to adopting it.  Time-wise, it’ll take a few years for the coins (and using them most and foremost) to start making proper sense to the masses. - As a result, there will be, thanks to a large number of people who’ve adapted to cryptocurrencies, real stability on the market. How delightful would that be?    - Moreover, even the majority of merchants are going to accept the coins and will be able to cover their full supply chain with cryptocurrencies.  - There will be many possible financial services available for cryptos, and without the ridiculous costs which we’re all (still) experiencing today via fiat currencies. But, before all of the above will commence, we need to focus on spreading this info, and communicating to the masses the real benefits of using cryptocurrencies. We need to get people and merchants involved and continue building the ecosystem around the currency.  With this strategy, we believe dagcoin will be one of the biggest cryptocurrencies in the future. The sky's the limit. So, what are you waiting for? Jump aboard, and let’s forge the future of currency, together.

#Blog
11 September, 2021
What People Get Wrong About Cryptocurrencies

Cryptocurrencies have yielded countless technological advancements, with fraud and identity theft prevention being just one — something that abounds when it comes to traditional banks and fiat currencies. Fraud is so prevalent in these sectors, that it’s estimated that businesses lose somewhere in the region of 5% of their total revenue to fraudsters each year, and over 16 million people annually fall victim to identity theft in the United States alone. However, these problems are almost totally eradicated by blockchain and DAG-chain technologies. With a regular bank account, the bank will hold all your personal and banking information and provides you with a card to spend and withdraw cash. So what’s the solution here? Fortunately, blockchain, DAG-chain, and other analogues almost eradicate these problems entirely. If you’re unsure as to how, consider your standard brick-and-mortar bank. The bank holds all your personal and banking data, then provides you with a method of spending your capital. All of this can be compromised through hacking, mail interception etc. With cryptocurrencies, only you, the user, has access to owned currency and personal information, none of which is disclosed when making a transaction. With external bodies cut out of the equation, the issue of fraud is almost eliminated. While this is one of the reasons many champion cryptocurrencies, a great amount of trepidation is felt by those who may have fallen prey to some commonly shared misconceptions around them. Let’s dive in. Where Perception Currently Lies It is very fair to say that over the last 10 years people have become increasingly aware of cryptocurrencies, especially Bitcoin. However, often for all the wrong reasons. Hardly a day goes by without a news story or criminal conviction regarding the use of cryptocurrencies to buy or sell illegal items on the dark web, such as the story regarding 2 businessmen who were using their own online cryptocurrency exchange business to launder the proceeds of marijuana sold on the dark web. However, these are not the only negative stories seen by the public. Go back just two years to the euphoria that was being placed around Bitcoin and its ever-increasing price and the huge amounts of money that could be made by investing. Sadly, we all know how this ended. Despite reaching a high of almost $20,000 on the 17th of December 2017, just 5 days later, the price of Bitcoin had fallen to a little over $13,000. This tumbling price generated mass panic and sales of the coin, sending the price tumbling yet further, all the way to $6000 by the start of February – just 5 weeks later. Leading ultimately to many of those new investors losing money, some, their entire life savings. And in that comes the majority of people’s views about cryptocurrencies in general - their instability. It is this instability that draws in traders - people trying to profit from the fluctuations in the prices of these coins. Large coins like Bitcoin can go up or down many hundreds of dollars each day, and smaller altcoins potentially 100’s of percent. So, what we have is a mass public who see cryptocurrencies as being used by those trying to avoid the law and by traders to make a fast buck. All leading people a long way from the original intention of these coins, to be… Money of the Future We mentioned above the increased security benefits that cryptocurrencies bring for their users, but that is not all. In one of our last posts (Helping you get a Credit History), we wrote how the poorest 2 billion people in the world are unable to open a bank account because the banks simply do not see them as profitable. Cryptocurrencies give anyone with a smartphone the chance to use them. Giving people their first alternative to cash, and a safe place to store, save and spend their money. And, in the process, create a credit history that they can use to borrow if they wish. Providing billions of people with an opportunity to improve their lives without restrictions. Because banks ultimately seek profits, this also makes them expensive to use. The cost of making a bank transfer can be anywhere from 1-5% along with a separate transaction fee. Cryptocurrency transactions cost anywhere from 0.1-1.5%, with no added fee. This means that people could save almost 5% per transaction. No small chunk of change! We mentioned earlier how fraud costs businesses 5% of their total revenues, when you add the cost savings of using crypto (another 5%), a business in a loss (perhaps on the verge of bankruptcy or layoffs) could suddenly break even or make a profit. And, for those companies already in profit, could result in better wages for employees and/or cheaper products for us – the end consumers. These reasons for using cryptos are fantastic, and there are a whole host more. To read more about the benefits of using cryptocurrencies click here. Dagcoin takes this aim of a better form of currency and makes it a reality by removing the current fears held by the public. The volatility in prices caused by trading is removed simply by not making Dagcoin available on any trading platform - making it impossible to trade the coin. In turn, by making all transactions visible on its ledger it is much harder for criminals to hide their illegal activities and profits than any other cryptocurrency. Conclusion Cryptocurrencies bring with them many great technological advancements. However, these are all too often lost due to the misconceptions created by the media. For the general public, their knowledge of cryptocurrencies revolves largely around the instability of prices, the huge gains or losses that could be made by trading or investing, and the convictions of those who are using them illegally to avoid detection when conducting criminal activities. However, cryptocurrencies: — Provide a safer and more secure place to store and spend your money than traditional methods, freeing you from the stresses and worry of fraud and theft — Cut the costs of transfers dramatically, and slice down transfer times from days (at worst) to mere seconds (when it comes to Dagchain currencies). — Allows those blockaded from building a credit history by banks the opportunity to take control of their financial lives and do just that. The list goes on, and while we could sit here all day discussing it, one thing is amply clear — cryptocurrencies are the future, and thankfully, they’re here to stay.

#Blog
08 September, 2021
Jamaica Mints First Round of CBDCs

Following the announcement of an intended pilot program slated for May 2021, Jamaica’s Central Bank has now minted its first batch of the nation’s new official digital currency. The pilot program, set to run until December this year, will feature the issue of J$230,000,000 (equivalent to around 1,500,00 USD at the time of writing) for deposit-taking institutions and authorised payment service providers. Over a year in the making, the Jamaican government had been working closely with Ireland-based technology firm eCurrency Mint on the project since early 2020. The primary impetus behind this move was to transition Jamaica to a digital economy as swiftly as possible in wake of the damage caused by the ongoing COVID-19 pandemic. In a formal ceremony conducted in August, Jamaican Finance Minister, Dr. Nigel Clarke, emphasised the rapid pace at which the digital currency program had progressed, and promised that a legislative amendment to accompany it would be put in place before the end of the current fiscal year. Following the ceremony, Clarke stated on Twitter: “CBDC offers a more secure, more efficient form of currency that offers the potential of significantly broadening financial inclusion. Along with national identification, the CBDC will form the foundation of the digital transformation of our society(...)” Praise was also given by eCurrency CEO, Jonathan Dharmapalan, hailing Jamaica’s CBDC project as the fastest in the world due to the pace of the rollout.

#Cryptonews
01 September, 2021
Most popular
Your Burning Dagcoin Questions Answered

The truth is, a lot of what we do here in Dagcoin may be slightly unclear to some of you. Therefore, we’ve put together some of the most frequently asked questions about Dagcoin in one article in order to provide some clarity.

28 July, 2021
Dagcoin – Overcoming The Blockchain Speed Problems

Just over ten years ago. If you wanted to send money to someone on the other side of the world, you would have sent it via a traditional bank transfer. For those of you that made such transactions, you will remember all too well how they took five business days or more to be received. And to top it off, you were hit by a transaction fee of around 5%, which could become very costly if you were sending a lot of money.

07 April, 2021
Dag Tech Day II: the things you need to know about DeFi

The second Dag Tech Day was a DeFi special, taking a closer look at the pros and cons of one of the fastest-growing sectors in the crypto industry: decentralised finance. Often referred to as the future of finance, DeFi is seen as a shift from traditional centralised financial systems to peer-to-peer finance enabled by decentralised technologies built on decentralised solutions. 

21 April, 2021
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Coinbase Generates $1.9B in Transaction Revenue

The largest crypto trading platform in the United States, Coinbase, has raked in almost 2 billion USD in Q2, shattering estimates. Previously, the platform was expected to turnover 1.57 billion in transaction revenue, however, following growth to 8.8 million monthly transacting users (MTUs), the exchange’s earnings shot up dramatically. This upward momentum was also due in part to the fact that over 9,000 financial institutions are now utilising Coinbase for the purposes of creating their own crypto products. The exchange also named several of its new partners in the most recent report, including (but not limited to) PNC Bank, WisdomTree Investments, SpaceX, Elon Musk, and Tesla. However, it wasn’t all good news, with July’s MTUs seeing a small drop-off, and the platform warning that Q3 is projected to show further contraction. The report went on to state: “However, the crypto industry continues to evolve rapidly and we anticipate volatility in our industry will persist in the near term resulting in unpredictable quarterly financial results. We are no stranger to a fast pace of innovation and volatility, and we remain focused on long-term execution throughout crypto price cycles.” As to be expected, in the wake of this, Coinbase shares immediately followed suit, and also shot up in the hours following the report’s release, now sitting at around 7% above their reference price of $250, but still 30% down from their opening trade price. Considering the massive volatility that some larger cryptocurrencies have seen in the past few months, and the fear instilled in many newbie traders as result, what Q3 truly holds in store for the platform is anyone’s guess

#Cryptonews
15 September, 2021
What’s the True Value of Cryptocurrency?

Value is something marvellous we strive for in everything. Both in our personal and professional lives. When you think about it, everything is about value, efficiency, and optimization these days.  So, now, more than ever, people (including you and me) are aware of the existence of cryptocurrencies. Plus ‒ we’re all becoming even more knowledgeable about the benefits crypto is able to bring in the future, i.e., on the government level, education-wise, all-around better quality of life, etc.  But for the master plan to work, it’s absolutely vital that there be a simple solution to exchange fiat currencies into crypto, as well as the reverse. The price of this “digital money” should not, nor need be, based on supply and demand. Read about the subject of value in one of our previous blog posts about price vs valuation. Don’t dwell on the past. Look to the horizon. Back when it all kicked off, we witnessed massive fluctuations in the prices of all of the cryptocurrencies. This issue is precisely the reason that was keeping merchants away from accepting non-fiat currencies. What also happens is when crypto prices rise, folks become super active, engage in crazy promotions, and provide ridiculous promises. Then when the price falls they get scared and step on the safe side, and become extra cautious.  Fluctuation, of course, slows down, firstly, the spread, and secondly, the mass adoption of cryptocurrencies. Therefore, the value should depend on real measurables, not on the currently agreed-upon ones.  We believe that cryptocurrencies should be treated as money, not as financial instruments. We’re absolutely convinced that the value should be based on the users, merchants, and usability. So, if you want to be a winner, well, then start accepting dags.  The more possibilities there are for using the coins, and the more people that have and use them, the more valuable it becomes. Value adds even more value. Simple.    The magic word is usability (and time) A strong indicator for evaluating cryptocurrency is its usage – meaning the number of transactions performed using the coins. This doesn’t include transactions done on the exchanges, aka trading platforms, but ones completed in real life, for example., sending funds between people and buying items from the merchants.  However, coin usage shouldn’t be taken into account just yet, as the world has only just started to see the whole picture, trusting it, and therefore moving closer to adopting it.  Time-wise, it’ll take a few years for the coins (and using them most and foremost) to start making proper sense to the masses. - As a result, there will be, thanks to a large number of people who’ve adapted to cryptocurrencies, real stability on the market. How delightful would that be?    - Moreover, even the majority of merchants are going to accept the coins and will be able to cover their full supply chain with cryptocurrencies.  - There will be many possible financial services available for cryptos, and without the ridiculous costs which we’re all (still) experiencing today via fiat currencies. But, before all of the above will commence, we need to focus on spreading this info, and communicating to the masses the real benefits of using cryptocurrencies. We need to get people and merchants involved and continue building the ecosystem around the currency.  With this strategy, we believe dagcoin will be one of the biggest cryptocurrencies in the future. The sky's the limit. So, what are you waiting for? Jump aboard, and let’s forge the future of currency, together.

#Blog
11 September, 2021
What People Get Wrong About Cryptocurrencies

Cryptocurrencies have yielded countless technological advancements, with fraud and identity theft prevention being just one — something that abounds when it comes to traditional banks and fiat currencies. Fraud is so prevalent in these sectors, that it’s estimated that businesses lose somewhere in the region of 5% of their total revenue to fraudsters each year, and over 16 million people annually fall victim to identity theft in the United States alone. However, these problems are almost totally eradicated by blockchain and DAG-chain technologies. With a regular bank account, the bank will hold all your personal and banking information and provides you with a card to spend and withdraw cash. So what’s the solution here? Fortunately, blockchain, DAG-chain, and other analogues almost eradicate these problems entirely. If you’re unsure as to how, consider your standard brick-and-mortar bank. The bank holds all your personal and banking data, then provides you with a method of spending your capital. All of this can be compromised through hacking, mail interception etc. With cryptocurrencies, only you, the user, has access to owned currency and personal information, none of which is disclosed when making a transaction. With external bodies cut out of the equation, the issue of fraud is almost eliminated. While this is one of the reasons many champion cryptocurrencies, a great amount of trepidation is felt by those who may have fallen prey to some commonly shared misconceptions around them. Let’s dive in. Where Perception Currently Lies It is very fair to say that over the last 10 years people have become increasingly aware of cryptocurrencies, especially Bitcoin. However, often for all the wrong reasons. Hardly a day goes by without a news story or criminal conviction regarding the use of cryptocurrencies to buy or sell illegal items on the dark web, such as the story regarding 2 businessmen who were using their own online cryptocurrency exchange business to launder the proceeds of marijuana sold on the dark web. However, these are not the only negative stories seen by the public. Go back just two years to the euphoria that was being placed around Bitcoin and its ever-increasing price and the huge amounts of money that could be made by investing. Sadly, we all know how this ended. Despite reaching a high of almost $20,000 on the 17th of December 2017, just 5 days later, the price of Bitcoin had fallen to a little over $13,000. This tumbling price generated mass panic and sales of the coin, sending the price tumbling yet further, all the way to $6000 by the start of February – just 5 weeks later. Leading ultimately to many of those new investors losing money, some, their entire life savings. And in that comes the majority of people’s views about cryptocurrencies in general - their instability. It is this instability that draws in traders - people trying to profit from the fluctuations in the prices of these coins. Large coins like Bitcoin can go up or down many hundreds of dollars each day, and smaller altcoins potentially 100’s of percent. So, what we have is a mass public who see cryptocurrencies as being used by those trying to avoid the law and by traders to make a fast buck. All leading people a long way from the original intention of these coins, to be… Money of the Future We mentioned above the increased security benefits that cryptocurrencies bring for their users, but that is not all. In one of our last posts (Helping you get a Credit History), we wrote how the poorest 2 billion people in the world are unable to open a bank account because the banks simply do not see them as profitable. Cryptocurrencies give anyone with a smartphone the chance to use them. Giving people their first alternative to cash, and a safe place to store, save and spend their money. And, in the process, create a credit history that they can use to borrow if they wish. Providing billions of people with an opportunity to improve their lives without restrictions. Because banks ultimately seek profits, this also makes them expensive to use. The cost of making a bank transfer can be anywhere from 1-5% along with a separate transaction fee. Cryptocurrency transactions cost anywhere from 0.1-1.5%, with no added fee. This means that people could save almost 5% per transaction. No small chunk of change! We mentioned earlier how fraud costs businesses 5% of their total revenues, when you add the cost savings of using crypto (another 5%), a business in a loss (perhaps on the verge of bankruptcy or layoffs) could suddenly break even or make a profit. And, for those companies already in profit, could result in better wages for employees and/or cheaper products for us – the end consumers. These reasons for using cryptos are fantastic, and there are a whole host more. To read more about the benefits of using cryptocurrencies click here. Dagcoin takes this aim of a better form of currency and makes it a reality by removing the current fears held by the public. The volatility in prices caused by trading is removed simply by not making Dagcoin available on any trading platform - making it impossible to trade the coin. In turn, by making all transactions visible on its ledger it is much harder for criminals to hide their illegal activities and profits than any other cryptocurrency. Conclusion Cryptocurrencies bring with them many great technological advancements. However, these are all too often lost due to the misconceptions created by the media. For the general public, their knowledge of cryptocurrencies revolves largely around the instability of prices, the huge gains or losses that could be made by trading or investing, and the convictions of those who are using them illegally to avoid detection when conducting criminal activities. However, cryptocurrencies: — Provide a safer and more secure place to store and spend your money than traditional methods, freeing you from the stresses and worry of fraud and theft — Cut the costs of transfers dramatically, and slice down transfer times from days (at worst) to mere seconds (when it comes to Dagchain currencies). — Allows those blockaded from building a credit history by banks the opportunity to take control of their financial lives and do just that. The list goes on, and while we could sit here all day discussing it, one thing is amply clear — cryptocurrencies are the future, and thankfully, they’re here to stay.

#Blog
08 September, 2021
Jamaica Mints First Round of CBDCs

Following the announcement of an intended pilot program slated for May 2021, Jamaica’s Central Bank has now minted its first batch of the nation’s new official digital currency. The pilot program, set to run until December this year, will feature the issue of J$230,000,000 (equivalent to around 1,500,00 USD at the time of writing) for deposit-taking institutions and authorised payment service providers. Over a year in the making, the Jamaican government had been working closely with Ireland-based technology firm eCurrency Mint on the project since early 2020. The primary impetus behind this move was to transition Jamaica to a digital economy as swiftly as possible in wake of the damage caused by the ongoing COVID-19 pandemic. In a formal ceremony conducted in August, Jamaican Finance Minister, Dr. Nigel Clarke, emphasised the rapid pace at which the digital currency program had progressed, and promised that a legislative amendment to accompany it would be put in place before the end of the current fiscal year. Following the ceremony, Clarke stated on Twitter: “CBDC offers a more secure, more efficient form of currency that offers the potential of significantly broadening financial inclusion. Along with national identification, the CBDC will form the foundation of the digital transformation of our society(...)” Praise was also given by eCurrency CEO, Jonathan Dharmapalan, hailing Jamaica’s CBDC project as the fastest in the world due to the pace of the rollout.

#Cryptonews
01 September, 2021
How Does Crypto Keep Your Financial Info Safe?

In today’s world, based on the way things are, keeping your personal and financial information safe when roaming the Internet is crucially important. You know that, and we know that. But the thing is, despite this being a relative no-brainer, it’s still a major stumbling block for a lot of people. The reason is likely that it doesn’t really feel that dangerous. Not everyone’s info gets compromised, and we might not even know anyone from our close social circle whose data has ever been under attack.  But then it happens. Then it turns out that it’s more frequent than it is rare.  There’s a lot of data about us, and everyone else, that’s stored on this ‘imaginary’ cloud. At the end of the day, we all want to feel secure in this bizarre new reality that’s offering so much yet keeping us on our toes at the same time.  Down below is a vivid example of the level of security cryptocurrency provides in contrast to credit card payments. Let’s dive in. A true story of safety Let’s say you’re out shopping. You’re purchasing something extraordinary and hand over your credit card to the merchant. At that moment they (the businesses) are provided with access to the full credit line (even when the amounts are small) of your card. As a process, it means that the store “pulls” the designated amount from your account, into their account. The point is that by using this method, the merchant has access to your credit card information, which also means others have access to your private information.  Enter the hero. Cryptocurrency works in a completely different way: you as an owner of digital money “push” a certain amount of coins to the merchant or recipient. No extra information whatsoever is used or needed.  Therefore, no access to the credit line is needed, and no information can be stolen. It guarantees complete privacy of your sensitive data. Your online identity is protected. Your funds are safe.  To break it down: when you use a credit or debit card to make a purchase (especially online), you provide the vendor information that third parties could theoretically steal. It happens all the time. More and more so, sadly, as technology keeps advancing.  This means if your financial information gets stolen from the vendor, your money is at risk. Be ahead of the curve. Be safe Cryptocurrency transactions are unique each time. This applies even when the parties involved are the same (let’s say you buy stuff from the same merchants over and over again). But how, you may be asking? The exchange of information means use of a “push basis” method. It means you decide upon the information you want to send to the other recipients. The traditional exchange system uses the “pull basis” method mentioned above.  If you’ve been reading our blog for a while now, you know that cryptocurrencies provide a lot of benefits: small transaction fees, fast international payments, etc. We’re delighted to say that there are more pros than cons that come with the use of cryptocurrency.  Do the maths.  Want to know more? Reach out!

#Blog
25 August, 2021
eToro CEO Predicts Broader Crypto Regulation

Following the UK’s recent crackdown on the exchange platform, Binance, eToro chief executive officer, Yoni Assia, predicts that this is just the beginning, with further regulation and consumer protection around crypto on the horizon. In an interview with the Financial Times, Assia stated “We are seeing a significant increase in the interest of retail investors and traders in the crypto market. As a part of that growth, we should also expect regulators to carefully look at this growing business of retail investors in the crypto markets.” As various nations have begun to heavily police cryptocurrencies and related trading, many experts within the digital currency sphere have met this shift with relative disdain due to the historical lack of intervention or protection offered by government bodies — a sentiment echoed by Assia’s comments. “The most important thing for regulators is to understand crypto, and understand that it is here to stay,” Assia went on to say, stressing the importance of regulators learning more about non-fiat currencies before enacting new rules and legislations. Despite initially launching as a stock exchange platform back in 2007, eToro’s shift to allowing crypto trading as of 2013 resulted in a whopping 16% of their revenue over the past year coming from crypto assets. This means that restrictive legislation around trading would almost certainly cause a huge dent in their operations.

#Cryptonews
18 August, 2021
Vietnam’s Prime Minister Pushes Central Bank Crypto Implementation

According to local reports, Vietnam will be soon joining the ever-growing list of Asian countries seeking to integrate cryptocurrencies into their state-run banks. The Viêt Nam News reported that Prime Minister Phạm Minh Chính recently requested that the Vietnamese State Bank begin looking into and piloting implementation for cryptocurrencies based on blockchain technology. The directive, known as “Decision No.942/QD-TTg”, is a major move in the nation’s e-development strategy, factoring artificial intelligence, big data, augmented reality, and virtual reality, all in parallel with the adoption of digital currencies. Until now, digital currencies have not been recognised in any official capacity, with no local licenses granted to any digital currency exchange platforms, and the State Bank stressing that citizens should avoid using any non-fiat currency due to its volatility and lack of legal recognition and purchase-protection. The proposed pilot initiative seeks to allow the government to shift laterally on their approach and generate a robust list of pros and cons for a wider rollout and official recognition of digital currencies by 2023. Huỳnh Phước Nghĩa, deputy director of the Institute of Innovation, stated that “Digital money is an inevitable trend.” This is likely in wake of the rapid uptick of cashless payments throughout Vietnam in recent years, which has undoubtedly led government officials to explore avenues around non-fiat currencies.

#Cryptonews
04 August, 2021
Your Burning Dagcoin Questions Answered

The truth is, a lot of what we do here in Dagcoin may be slightly unclear to some of you. Therefore, we’ve put together some of the most frequently asked questions about Dagcoin in one article in order to provide some clarity. We also suggest you regularly keep an eye on our News & Blog section where we tackle the most exciting topics emerging from the global crypto scene as well as from the bustling Dagcoin hub. But now on to answering some of those burning questions you may have been wondering about. 1. Some of you have expressed confusion regarding the fact that changing your dagcoins to fiat currency isn’t as smooth a process you’d imagine it to be. Let us explain why! Today, Success Factory has become one of the most popular methods of purchasing dagcoins. As a result, the supply on the official dagcoin exchange platform SwipeX is currently higher than the demand. However, once all three billion dagcoins have found an owner, SwipeX will become the primary exchange platform and dagcoins can no longer be purchased through Success Factory.  For the moment, however, depending on the total number of dagcoins purchased, they must initially (and can also later) be deposited for 12, 24 or 36 months. According to the months deposited, buyers will then be rewarded with a certain percentage of coins. The additional coins will be distributed as a token of gratitude for the fact that the purchaser of the product is ready to contribute to the development of the ecosystem and thus initially freeze their coins. So we urge you to explore the numerous possibilities the Dagcoin ecosystem has to offer in using your coins. You can have a look at the ecosystem here and find merchants from your region here. Also, consider placing your dagcoins in Dagcoin Grow to increase their value, passively. The processes involved in building Dagcoin are indeed taking longer today than would have been expected. The reason for that is that in parallel with the development of dagcoin as a cryptocurrency, the construction of the Dagcoin ecosystem is being executed which is time-consuming and costly. But we are committed to creating an environment for all dagcoin users where everything they need can be purchased with dagcoins. The companies that joined us in the early years share this vision, and we can continue to operate with their trust and support. Dagcoin has taken on the mission to prove that the hype of ‘getting rich fast’ is not the real potential a cryptographic currency holds. Another important pillar of Dagcoin’s foundation is to provide billions of people around the globe, who still do not have access to traditional banking, the possibility to store and use their money in an accessible and affordable way.  2. You want to know how exactly Dagcoin is distinct from Bitcoin? Let us try putting it this way... Bitcoin is widely used as a speculative trading tool, its value fluctuates constantly. Therefore, it cannot be used as a real means of payment as its value can fluctuate from month to month in which case both, the merchant and the customer can end up losing their money. In fact, around 80% of individual traders lose money when trading with Bitcoin. Dagcoin however aims to become a daily used, regulated and stable cryptocurrency. To achieve this, Dagcoin uses fundamental pricing, where the price of the coin is based on the number of merchants and coin holders who use it. This ensures a fixed and predictable coin value, which makes Dagcoin a common currency for everyday use. Unlike Bitcoin, Dagcoin also uses user authentication to comply with international regulations. That is also the biggest technological difference between Dagcoin and Bitcoin. Dagcoin is a centralized cryptocurrency, Bitcoin on the other hand not. This means that dagcoin users store their coins on their personal devices and the transactions are confirmed by a network of witnesses managed by Dagcoin, not the community. This approach will also significantly save natural resources, as there is no need for mining as is the case with Bitcoin. Last year alone the maintenance of Bitcoins technology used as much electricity as the whole of Iceland. Dagcoins witness network however consumes about the same amount of energy per year as five average households. 3. Why is dagcoin centralised? Alright, we gotcha! A centralized cryptocurrency like Dagcoin works in accordance with financial regulations which allow it to one day become a widely used currency on a daily basis. In the case of decentralized cryptocurrencies, it is possible to make illegal transactions and there is no overview of who is behind these. However, in the case of centralized cryptocurrency, it is possible to identify users and thus prevent and deter money laundering and other illegal activities. A centralized infrastructure also helps to save the energy needed to maintain the network of "witnesses". 4. And now the exciting part: how is dagcoins price calculated?  Today, the price of dagcoin depends on the balance of the community: the number of individual users and merchants of dagcoin which together determine its value as follows: - 10,000 new dagcoin users = € 0.01 added to the price - 100 new companies that accept dagcoin = € 0.01 to the price Example: today's price of € 0.76 comes from the equation of € 0.62 (620,000 users) + € 0.14 (1,400 companies) = € 0.76. The price of Dagcoin is today still related to the size of the community. If the number of individual users and traders of dagcoin is large enough to keep its price stable, dagcoin will be released and the price will be determined by supply and demand. The same principles apply when the number of businesses and/or users in the ecosystem decrease. As a result, the price of dagcoin would fall. At first sight, this might seem in contradiction to the principles of the free market, which requires the price to be determined on the basis of supply and demand. However, after the market analysis in 2017, we realized that in order to change the cryptographic market, we need to take a different approach. As most cryptocurrencies are seen as a financial instrument and their price is manipulated, we decided to initially price dagcoin on the basis of fundamental parameters (the number of companies that accept dagcoin and the number of people who use dagcoin). As a result, dagcoin has no daily fluctuations, which makes its use even safer for both users and companies. Our vision is to build a community large enough around the Dagcoin ecosystem that the price of dagcoin would remain stable and could not be manipulated. Once we are convinced that through the daily use of dagcoin the community remains stable, price and demand will determine the price. National currencies (euro, dollar, pound) are built on the same principles: the price remains stable through the trust of the community and the possibilities of usage. National currencies are constantly being traded but in the big picture, their prices do not fluctuate because the user community is large enough to keep the average price stable. The authors of Dagcoin do not claim that such an approach is the only way to increase the reliability of a cryptocurrency and realizing its true potential, but the first step in changing the world of cryptography has nonetheless been now made.

#Cryptonews
28 July, 2021
El Salvador Introduces Cryptocurrency as Legal Tender

In an unexpected turn of events, El Salvador has announced its upcoming plans to make cryptocurrency legal tender with its borders. Since 2001, the Central American nation of El Salvador has relied on the United States Dollar as its official currency, however, 20 years on, USD is to share the Salvadorean stage with Bitcoin — a highly unusual move considering the currency’s extreme volatility. El Salvador’s Congress approved President Nayib Bukele's proposal to begin accepting the cryptocurrency as legal tender, with a majority of 62 out of 84 votes in early June. This legally binding congressional vote means that El Salvador will be the first nation in the world to fully embrace a cryptocurrency as legal tender. Once rolled out, this move will legally require any and all traders to accept bitcoin payments at the point of sale, with the only option to refuse being a lack of the technology required to process a digital payment. "It will bring financial inclusion, investment, tourism, innovation and economic development for our country," President Bukele tweeted on the day of the vote. Beyond this, Bukele has claimed that this move will allow the whopping 70% of Salvadoreans who currently lack access to financial services to join with the 30% who do. Despite these broad claims, sceptics abound, with many speaking out regarding the currency’s unreliability due to fluctuating valuations, as well its very uncertain future. Rather than wholesale adoption of existing cryptocurrencies, other nations are now eyeing the possibility of creating their very own digital currencies, with China having already conducted test-runs of its Digital Yuan in 2020.

#Cryptonews
21 July, 2021
#cryptonews
Coinbase Generates $1.9B in Transaction Revenue

The largest crypto trading platform in the United States, Coinbase, has raked in almost 2 billion USD in Q2, shattering estimates. Previously, the platform was expected to turnover 1.57 billion in transaction revenue, however, following growth to 8.8 million monthly transacting users (MTUs), the exchange’s earnings shot up dramatically. This upward momentum was also due in part to the fact that over 9,000 financial institutions are now utilising Coinbase for the purposes of creating their own crypto products. The exchange also named several of its new partners in the most recent report, including (but not limited to) PNC Bank, WisdomTree Investments, SpaceX, Elon Musk, and Tesla. However, it wasn’t all good news, with July’s MTUs seeing a small drop-off, and the platform warning that Q3 is projected to show further contraction. The report went on to state: “However, the crypto industry continues to evolve rapidly and we anticipate volatility in our industry will persist in the near term resulting in unpredictable quarterly financial results. We are no stranger to a fast pace of innovation and volatility, and we remain focused on long-term execution throughout crypto price cycles.” As to be expected, in the wake of this, Coinbase shares immediately followed suit, and also shot up in the hours following the report’s release, now sitting at around 7% above their reference price of $250, but still 30% down from their opening trade price. Considering the massive volatility that some larger cryptocurrencies have seen in the past few months, and the fear instilled in many newbie traders as result, what Q3 truly holds in store for the platform is anyone’s guess

#Cryptonews
15 September, 2021
Jamaica Mints First Round of CBDCs

Following the announcement of an intended pilot program slated for May 2021, Jamaica’s Central Bank has now minted its first batch of the nation’s new official digital currency. The pilot program, set to run until December this year, will feature the issue of J$230,000,000 (equivalent to around 1,500,00 USD at the time of writing) for deposit-taking institutions and authorised payment service providers. Over a year in the making, the Jamaican government had been working closely with Ireland-based technology firm eCurrency Mint on the project since early 2020. The primary impetus behind this move was to transition Jamaica to a digital economy as swiftly as possible in wake of the damage caused by the ongoing COVID-19 pandemic. In a formal ceremony conducted in August, Jamaican Finance Minister, Dr. Nigel Clarke, emphasised the rapid pace at which the digital currency program had progressed, and promised that a legislative amendment to accompany it would be put in place before the end of the current fiscal year. Following the ceremony, Clarke stated on Twitter: “CBDC offers a more secure, more efficient form of currency that offers the potential of significantly broadening financial inclusion. Along with national identification, the CBDC will form the foundation of the digital transformation of our society(...)” Praise was also given by eCurrency CEO, Jonathan Dharmapalan, hailing Jamaica’s CBDC project as the fastest in the world due to the pace of the rollout.

#Cryptonews
01 September, 2021
eToro CEO Predicts Broader Crypto Regulation

Following the UK’s recent crackdown on the exchange platform, Binance, eToro chief executive officer, Yoni Assia, predicts that this is just the beginning, with further regulation and consumer protection around crypto on the horizon. In an interview with the Financial Times, Assia stated “We are seeing a significant increase in the interest of retail investors and traders in the crypto market. As a part of that growth, we should also expect regulators to carefully look at this growing business of retail investors in the crypto markets.” As various nations have begun to heavily police cryptocurrencies and related trading, many experts within the digital currency sphere have met this shift with relative disdain due to the historical lack of intervention or protection offered by government bodies — a sentiment echoed by Assia’s comments. “The most important thing for regulators is to understand crypto, and understand that it is here to stay,” Assia went on to say, stressing the importance of regulators learning more about non-fiat currencies before enacting new rules and legislations. Despite initially launching as a stock exchange platform back in 2007, eToro’s shift to allowing crypto trading as of 2013 resulted in a whopping 16% of their revenue over the past year coming from crypto assets. This means that restrictive legislation around trading would almost certainly cause a huge dent in their operations.

#Cryptonews
18 August, 2021
Vietnam’s Prime Minister Pushes Central Bank Crypto Implementation

According to local reports, Vietnam will be soon joining the ever-growing list of Asian countries seeking to integrate cryptocurrencies into their state-run banks. The Viêt Nam News reported that Prime Minister Phạm Minh Chính recently requested that the Vietnamese State Bank begin looking into and piloting implementation for cryptocurrencies based on blockchain technology. The directive, known as “Decision No.942/QD-TTg”, is a major move in the nation’s e-development strategy, factoring artificial intelligence, big data, augmented reality, and virtual reality, all in parallel with the adoption of digital currencies. Until now, digital currencies have not been recognised in any official capacity, with no local licenses granted to any digital currency exchange platforms, and the State Bank stressing that citizens should avoid using any non-fiat currency due to its volatility and lack of legal recognition and purchase-protection. The proposed pilot initiative seeks to allow the government to shift laterally on their approach and generate a robust list of pros and cons for a wider rollout and official recognition of digital currencies by 2023. Huỳnh Phước Nghĩa, deputy director of the Institute of Innovation, stated that “Digital money is an inevitable trend.” This is likely in wake of the rapid uptick of cashless payments throughout Vietnam in recent years, which has undoubtedly led government officials to explore avenues around non-fiat currencies.

#Cryptonews
04 August, 2021
El Salvador Introduces Cryptocurrency as Legal Tender

In an unexpected turn of events, El Salvador has announced its upcoming plans to make cryptocurrency legal tender with its borders. Since 2001, the Central American nation of El Salvador has relied on the United States Dollar as its official currency, however, 20 years on, USD is to share the Salvadorean stage with Bitcoin — a highly unusual move considering the currency’s extreme volatility. El Salvador’s Congress approved President Nayib Bukele's proposal to begin accepting the cryptocurrency as legal tender, with a majority of 62 out of 84 votes in early June. This legally binding congressional vote means that El Salvador will be the first nation in the world to fully embrace a cryptocurrency as legal tender. Once rolled out, this move will legally require any and all traders to accept bitcoin payments at the point of sale, with the only option to refuse being a lack of the technology required to process a digital payment. "It will bring financial inclusion, investment, tourism, innovation and economic development for our country," President Bukele tweeted on the day of the vote. Beyond this, Bukele has claimed that this move will allow the whopping 70% of Salvadoreans who currently lack access to financial services to join with the 30% who do. Despite these broad claims, sceptics abound, with many speaking out regarding the currency’s unreliability due to fluctuating valuations, as well its very uncertain future. Rather than wholesale adoption of existing cryptocurrencies, other nations are now eyeing the possibility of creating their very own digital currencies, with China having already conducted test-runs of its Digital Yuan in 2020.

#Cryptonews
21 July, 2021
Your Burning Dagcoin Questions Answered

The truth is, a lot of what we do here in Dagcoin may be slightly unclear to some of you. Therefore, we’ve put together some of the most frequently asked questions about Dagcoin in one article in order to provide some clarity. We also suggest you regularly keep an eye on our News & Blog section where we tackle the most exciting topics emerging from the global crypto scene as well as from the bustling Dagcoin hub. But now on to answering some of those burning questions you may have been wondering about. 1. Some of you have expressed confusion regarding the fact that changing your dagcoins to fiat currency isn’t as smooth a process you’d imagine it to be. Let us explain why! Today, Success Factory has become one of the most popular methods of purchasing dagcoins. As a result, the supply on the official dagcoin exchange platform SwipeX is currently higher than the demand. However, once all three billion dagcoins have found an owner, SwipeX will become the primary exchange platform and dagcoins can no longer be purchased through Success Factory.  For the moment, however, depending on the total number of dagcoins purchased, they must initially (and can also later) be deposited for 12, 24 or 36 months. According to the months deposited, buyers will then be rewarded with a certain percentage of coins. The additional coins will be distributed as a token of gratitude for the fact that the purchaser of the product is ready to contribute to the development of the ecosystem and thus initially freeze their coins. So we urge you to explore the numerous possibilities the Dagcoin ecosystem has to offer in using your coins. You can have a look at the ecosystem here and find merchants from your region here. Also, consider placing your dagcoins in Dagcoin Grow to increase their value, passively. The processes involved in building Dagcoin are indeed taking longer today than would have been expected. The reason for that is that in parallel with the development of dagcoin as a cryptocurrency, the construction of the Dagcoin ecosystem is being executed which is time-consuming and costly. But we are committed to creating an environment for all dagcoin users where everything they need can be purchased with dagcoins. The companies that joined us in the early years share this vision, and we can continue to operate with their trust and support. Dagcoin has taken on the mission to prove that the hype of ‘getting rich fast’ is not the real potential a cryptographic currency holds. Another important pillar of Dagcoin’s foundation is to provide billions of people around the globe, who still do not have access to traditional banking, the possibility to store and use their money in an accessible and affordable way.  2. You want to know how exactly Dagcoin is distinct from Bitcoin? Let us try putting it this way... Bitcoin is widely used as a speculative trading tool, its value fluctuates constantly. Therefore, it cannot be used as a real means of payment as its value can fluctuate from month to month in which case both, the merchant and the customer can end up losing their money. In fact, around 80% of individual traders lose money when trading with Bitcoin. Dagcoin however aims to become a daily used, regulated and stable cryptocurrency. To achieve this, Dagcoin uses fundamental pricing, where the price of the coin is based on the number of merchants and coin holders who use it. This ensures a fixed and predictable coin value, which makes Dagcoin a common currency for everyday use. Unlike Bitcoin, Dagcoin also uses user authentication to comply with international regulations. That is also the biggest technological difference between Dagcoin and Bitcoin. Dagcoin is a centralized cryptocurrency, Bitcoin on the other hand not. This means that dagcoin users store their coins on their personal devices and the transactions are confirmed by a network of witnesses managed by Dagcoin, not the community. This approach will also significantly save natural resources, as there is no need for mining as is the case with Bitcoin. Last year alone the maintenance of Bitcoins technology used as much electricity as the whole of Iceland. Dagcoins witness network however consumes about the same amount of energy per year as five average households. 3. Why is dagcoin centralised? Alright, we gotcha! A centralized cryptocurrency like Dagcoin works in accordance with financial regulations which allow it to one day become a widely used currency on a daily basis. In the case of decentralized cryptocurrencies, it is possible to make illegal transactions and there is no overview of who is behind these. However, in the case of centralized cryptocurrency, it is possible to identify users and thus prevent and deter money laundering and other illegal activities. A centralized infrastructure also helps to save the energy needed to maintain the network of "witnesses". 4. And now the exciting part: how is dagcoins price calculated?  Today, the price of dagcoin depends on the balance of the community: the number of individual users and merchants of dagcoin which together determine its value as follows: - 10,000 new dagcoin users = € 0.01 added to the price - 100 new companies that accept dagcoin = € 0.01 to the price Example: today's price of € 0.76 comes from the equation of € 0.62 (620,000 users) + € 0.14 (1,400 companies) = € 0.76. The price of Dagcoin is today still related to the size of the community. If the number of individual users and traders of dagcoin is large enough to keep its price stable, dagcoin will be released and the price will be determined by supply and demand. The same principles apply when the number of businesses and/or users in the ecosystem decrease. As a result, the price of dagcoin would fall. At first sight, this might seem in contradiction to the principles of the free market, which requires the price to be determined on the basis of supply and demand. However, after the market analysis in 2017, we realized that in order to change the cryptographic market, we need to take a different approach. As most cryptocurrencies are seen as a financial instrument and their price is manipulated, we decided to initially price dagcoin on the basis of fundamental parameters (the number of companies that accept dagcoin and the number of people who use dagcoin). As a result, dagcoin has no daily fluctuations, which makes its use even safer for both users and companies. Our vision is to build a community large enough around the Dagcoin ecosystem that the price of dagcoin would remain stable and could not be manipulated. Once we are convinced that through the daily use of dagcoin the community remains stable, price and demand will determine the price. National currencies (euro, dollar, pound) are built on the same principles: the price remains stable through the trust of the community and the possibilities of usage. National currencies are constantly being traded but in the big picture, their prices do not fluctuate because the user community is large enough to keep the average price stable. The authors of Dagcoin do not claim that such an approach is the only way to increase the reliability of a cryptocurrency and realizing its true potential, but the first step in changing the world of cryptography has nonetheless been now made.

#Cryptonews
28 July, 2021
Head of Ukrainian Cyberpolice Calls for Crypto Legalisation

The head of the Ukrainian police force’s cybercrime division, Oleksandr Grinchak, has urged the nation’s government to fully legalise cryptocurrencies in order to curb the emergence of criminal activity due to lack of government intervention or official frameworks. In an interview with the Ukrainian branch of RBC, Grinchak highlighted that transitioning cryptocurrencies into a fully legal sector would allow law enforcement authorities to effectively monitor and manage any unscrupulous activity. “If we talk about crimes the police force deals with now, ranging from murder, extortion, and theft to drug offences – all of these aberrations can be associated with cryptocurrency: Everything except trademark and copyright infringement. That’s why it is necessary to legalize it,” he stated. Despite a degree of resistance, Grinchak stated that many less outspoken parliamentarians within the Verkohvna Rada, Ukrainian’s parliament, also supported a move towards legal restrictions being lifted. “We have specialists who deal with blockchain, analytics, and communication with crypto exchanges. We do manage to identify these criminals. But we have already repeatedly raised the issue with the Verkhovna Rada and specialized committees. Cryptocurrencies need to be legalized(...)” As the law currently stands, although cybercrime divisions have the necessary intel and resources required to move against criminal groups operating within the crypto-sphere, the lack of legal framework makes it nigh-on impossible to action any form of official investigation or prosecution. Ukraine is now one of many developed nations with cells intent on pushing for wide-scale adoption and legalisation of cryptocurrency, with India and Taiwan already taking steps to normalise it.

#Cryptonews
23 June, 2021
What’s going on with China’s Crypto Crackdown?

You’ve more than likely seen headlines and various mutterings around China’s war against cryptocurrency trading and mining within the country, but what’s exactly happening? Recently an official document was released by the Chinese State Council, stating that “We should crack down on bitcoin mining and trading activities and prevent individual risks from being passed to the whole society.” Although the reasoning behind this may not be clear, it was cited as being due to “environmental concerns.” While this is indeed a concern, especially regarding the trading of currencies such as Bitcoin, many have found this justification dubious. Regardless of the validity of this reasoning, immediate shockwaves have been felt in digital currency markets both domestically and abroad. Most notably, Bitcoin took a sudden tumble in value to under around $30,000 following the official statement’s release. However, Bitcoin wasn’t alone, with just about all major cryptocurrencies seeing similar drops in value — Ethereum, XRP, and Ripple to name a few. While no definitive plans have been made, nor any direct actions taken by the government itself, crypto miners within China are now desperately scrambling to move their mining operations further afield, with the US being a prime location. “I have been having conversations all weekend, starting since last Friday, with Chinese miners looking to co-locate in the U.S.,” stated Ethan Vera, COO of Seattle-based mining firm, Luxor. The intercontinental migration of mining ventures will not only be costly but may take up to months, leading to a significant break in operations. Despite the projected goal of Chinese mining groups continuing operation as normal later down the line, there still remains a great deal of uncertainty due to the alleged crackdown potentially being shelved. This has further soured expectations, and has thrown the importance of these migrations into question, leaving many in a state of limbo. “Miners in China I’ve spoken with are unsure of the impact right now.” tweeted Thomas Heller, co-founder, and CBO at Compass Mining. The upcoming weeks will be critical in getting a handle on which steps the Chinese government intends to take on the issue, whether it be restrictive regulations, or an outright ban as many are expecting to be the case. We’ll be sure to keep you posted on any developments as they emerge.

#Cryptonews
09 June, 2021
India Seeks Crypto Regulation, Avoiding Total Ban

In the midst of tumultuous news around major cryptocurrencies seeing a dramatic fall, the crypto landscape is looking less bleak for the crypto landscape in India, with advocates within the nation rejoicing over reports that the Indian government plans to scrap their initial plans to enact an outright ban on cryptocurrency trading. Like most countries, India currently lacks any solid regulation around the sale and purchase of digital currencies which has led the Government of India to explore the idea of disallowing the usage of cryptocurrencies, nationwide, over the past four years. These plans have met progressively more resistance from enthusiasts due to crypto edging ever closer into the territory of the trading layman. A recent attempt by the Indian Central Bank to block banks from dealing with crypto-related businesses was successfully thrown off-course by the country’s Supreme Court in 2020, yielding a glimmer of hope the government would reconsider their stance on future bills. However, that glimmer of hope has now taken the form of a shining beacon, smiling down on Indian citizens who have been championing decentralised currencies. A report from the Economic Times states that the Government of India is considering refreshing its panel of experts who’ve previously been chairing discussions on regulation of cryptocurrencies, with finance secretary Subhash Garg’s ban recommendations being outlined specifically. “There is a view within the government that the recommendations made by the Subhash Garg are dated and a fresh look is needed at use of cryptos rather than a total ban,” said an unnamed official. This has paved the way for more open and accessible regulations to be considered, with the aforementioned report indicating that discussions will commence within parliament this summer.

#Cryptonews
26 May, 2021
#dagblog
What People Get Wrong About Cryptocurrencies

Cryptocurrencies have yielded countless technological advancements, with fraud and identity theft prevention being just one — something that abounds when it comes to traditional banks and fiat currencies. Fraud is so prevalent in these sectors, that it’s estimated that businesses lose somewhere in the region of 5% of their total revenue to fraudsters each year, and over 16 million people annually fall victim to identity theft in the United States alone. However, these problems are almost totally eradicated by blockchain and DAG-chain technologies. With a regular bank account, the bank will hold all your personal and banking information and provides you with a card to spend and withdraw cash. So what’s the solution here? Fortunately, blockchain, DAG-chain, and other analogues almost eradicate these problems entirely. If you’re unsure as to how, consider your standard brick-and-mortar bank. The bank holds all your personal and banking data, then provides you with a method of spending your capital. All of this can be compromised through hacking, mail interception etc. With cryptocurrencies, only you, the user, has access to owned currency and personal information, none of which is disclosed when making a transaction. With external bodies cut out of the equation, the issue of fraud is almost eliminated. While this is one of the reasons many champion cryptocurrencies, a great amount of trepidation is felt by those who may have fallen prey to some commonly shared misconceptions around them. Let’s dive in. Where Perception Currently Lies It is very fair to say that over the last 10 years people have become increasingly aware of cryptocurrencies, especially Bitcoin. However, often for all the wrong reasons. Hardly a day goes by without a news story or criminal conviction regarding the use of cryptocurrencies to buy or sell illegal items on the dark web, such as the story regarding 2 businessmen who were using their own online cryptocurrency exchange business to launder the proceeds of marijuana sold on the dark web. However, these are not the only negative stories seen by the public. Go back just two years to the euphoria that was being placed around Bitcoin and its ever-increasing price and the huge amounts of money that could be made by investing. Sadly, we all know how this ended. Despite reaching a high of almost $20,000 on the 17th of December 2017, just 5 days later, the price of Bitcoin had fallen to a little over $13,000. This tumbling price generated mass panic and sales of the coin, sending the price tumbling yet further, all the way to $6000 by the start of February – just 5 weeks later. Leading ultimately to many of those new investors losing money, some, their entire life savings. And in that comes the majority of people’s views about cryptocurrencies in general - their instability. It is this instability that draws in traders - people trying to profit from the fluctuations in the prices of these coins. Large coins like Bitcoin can go up or down many hundreds of dollars each day, and smaller altcoins potentially 100’s of percent. So, what we have is a mass public who see cryptocurrencies as being used by those trying to avoid the law and by traders to make a fast buck. All leading people a long way from the original intention of these coins, to be… Money of the Future We mentioned above the increased security benefits that cryptocurrencies bring for their users, but that is not all. In one of our last posts (Helping you get a Credit History), we wrote how the poorest 2 billion people in the world are unable to open a bank account because the banks simply do not see them as profitable. Cryptocurrencies give anyone with a smartphone the chance to use them. Giving people their first alternative to cash, and a safe place to store, save and spend their money. And, in the process, create a credit history that they can use to borrow if they wish. Providing billions of people with an opportunity to improve their lives without restrictions. Because banks ultimately seek profits, this also makes them expensive to use. The cost of making a bank transfer can be anywhere from 1-5% along with a separate transaction fee. Cryptocurrency transactions cost anywhere from 0.1-1.5%, with no added fee. This means that people could save almost 5% per transaction. No small chunk of change! We mentioned earlier how fraud costs businesses 5% of their total revenues, when you add the cost savings of using crypto (another 5%), a business in a loss (perhaps on the verge of bankruptcy or layoffs) could suddenly break even or make a profit. And, for those companies already in profit, could result in better wages for employees and/or cheaper products for us – the end consumers. These reasons for using cryptos are fantastic, and there are a whole host more. To read more about the benefits of using cryptocurrencies click here. Dagcoin takes this aim of a better form of currency and makes it a reality by removing the current fears held by the public. The volatility in prices caused by trading is removed simply by not making Dagcoin available on any trading platform - making it impossible to trade the coin. In turn, by making all transactions visible on its ledger it is much harder for criminals to hide their illegal activities and profits than any other cryptocurrency. Conclusion Cryptocurrencies bring with them many great technological advancements. However, these are all too often lost due to the misconceptions created by the media. For the general public, their knowledge of cryptocurrencies revolves largely around the instability of prices, the huge gains or losses that could be made by trading or investing, and the convictions of those who are using them illegally to avoid detection when conducting criminal activities. However, cryptocurrencies: — Provide a safer and more secure place to store and spend your money than traditional methods, freeing you from the stresses and worry of fraud and theft — Cut the costs of transfers dramatically, and slice down transfer times from days (at worst) to mere seconds (when it comes to Dagchain currencies). — Allows those blockaded from building a credit history by banks the opportunity to take control of their financial lives and do just that. The list goes on, and while we could sit here all day discussing it, one thing is amply clear — cryptocurrencies are the future, and thankfully, they’re here to stay.

#Blog
08 September, 2021
How Does Crypto Keep Your Financial Info Safe?

In today’s world, based on the way things are, keeping your personal and financial information safe when roaming the Internet is crucially important. You know that, and we know that. But the thing is, despite this being a relative no-brainer, it’s still a major stumbling block for a lot of people. The reason is likely that it doesn’t really feel that dangerous. Not everyone’s info gets compromised, and we might not even know anyone from our close social circle whose data has ever been under attack.  But then it happens. Then it turns out that it’s more frequent than it is rare.  There’s a lot of data about us, and everyone else, that’s stored on this ‘imaginary’ cloud. At the end of the day, we all want to feel secure in this bizarre new reality that’s offering so much yet keeping us on our toes at the same time.  Down below is a vivid example of the level of security cryptocurrency provides in contrast to credit card payments. Let’s dive in. A true story of safety Let’s say you’re out shopping. You’re purchasing something extraordinary and hand over your credit card to the merchant. At that moment they (the businesses) are provided with access to the full credit line (even when the amounts are small) of your card. As a process, it means that the store “pulls” the designated amount from your account, into their account. The point is that by using this method, the merchant has access to your credit card information, which also means others have access to your private information.  Enter the hero. Cryptocurrency works in a completely different way: you as an owner of digital money “push” a certain amount of coins to the merchant or recipient. No extra information whatsoever is used or needed.  Therefore, no access to the credit line is needed, and no information can be stolen. It guarantees complete privacy of your sensitive data. Your online identity is protected. Your funds are safe.  To break it down: when you use a credit or debit card to make a purchase (especially online), you provide the vendor information that third parties could theoretically steal. It happens all the time. More and more so, sadly, as technology keeps advancing.  This means if your financial information gets stolen from the vendor, your money is at risk. Be ahead of the curve. Be safe Cryptocurrency transactions are unique each time. This applies even when the parties involved are the same (let’s say you buy stuff from the same merchants over and over again). But how, you may be asking? The exchange of information means use of a “push basis” method. It means you decide upon the information you want to send to the other recipients. The traditional exchange system uses the “pull basis” method mentioned above.  If you’ve been reading our blog for a while now, you know that cryptocurrencies provide a lot of benefits: small transaction fees, fast international payments, etc. We’re delighted to say that there are more pros than cons that come with the use of cryptocurrency.  Do the maths.  Want to know more? Reach out!

#Blog
25 August, 2021
What’s the True Value of Cryptocurrency?

Value is something marvellous we strive for in everything. Both in our personal and professional lives. When you think about it, everything is about value, efficiency, and optimization these days.  So, now, more than ever, people (including you and me) are aware of the existence of cryptocurrencies. Plus ‒ we’re all becoming even more knowledgeable about the benefits crypto is able to bring in the future, i.e., on the government level, education-wise, all-around better quality of life, etc.  But for the master plan to work, it’s absolutely vital that there be a simple solution to exchange fiat currencies into crypto, as well as the reverse. The price of this “digital money” should not, nor need be, based on supply and demand. Read about the subject of value in one of our previous blog posts about price vs valuation. Don’t dwell on the past. Look to the horizon. Back when it all kicked off, we witnessed massive fluctuations in the prices of all of the cryptocurrencies. This issue is precisely the reason that was keeping merchants away from accepting non-fiat currencies. What also happens is when crypto prices rise, folks become super active, engage in crazy promotions, and provide ridiculous promises. Then when the price falls they get scared and step on the safe side, and become extra cautious.  Fluctuation, of course, slows down, firstly, the spread, and secondly, the mass adoption of cryptocurrencies. Therefore, the value should depend on real measurables, not on the currently agreed-upon ones.  We believe that cryptocurrencies should be treated as money, not as financial instruments. We’re absolutely convinced that the value should be based on the users, merchants, and usability. So, if you want to be a winner, well, then start accepting dags.  The more possibilities there are for using the coins, and the more people that have and use them, the more valuable it becomes. Value adds even more value. Simple.    The magic word is usability (and time) A strong indicator for evaluating cryptocurrency is its usage – meaning the number of transactions performed using the coins. This doesn’t include transactions done on the exchanges, aka trading platforms, but ones completed in real life, for example., sending funds between people and buying items from the merchants.  However, coin usage shouldn’t be taken into account just yet, as the world has only just started to see the whole picture, trusting it, and therefore moving closer to adopting it.  Time-wise, it’ll take a few years for the coins (and using them most and foremost) to start making proper sense to the masses. - As a result, there will be, thanks to a large number of people who’ve adapted to cryptocurrencies, real stability on the market. How delightful would that be?    - Moreover, even the majority of merchants are going to accept the coins and will be able to cover their full supply chain with cryptocurrencies.  - There will be many possible financial services available for cryptos, and without the ridiculous costs which we’re all (still) experiencing today via fiat currencies. But, before all of the above will commence, we need to focus on spreading this info, and communicating to the masses the real benefits of using cryptocurrencies. We need to get people and merchants involved and continue building the ecosystem around the currency.  With this strategy, we believe dagcoin will be one of the biggest cryptocurrencies in the future. The sky's the limit. So, what are you waiting for? Jump aboard, and let’s forge the future of currency, together.

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11 September, 2021
How to Buy and Use Your Dagcoins?

As of today, around 650,000 people are now using dagcoins, and this number is continuously on the rise. But for those of you who are new to cryptocurrencies, or Dagcoin in particular, just how and where do you get dagcoins? How do you store them? And, finally, what exactly can you do with them? Let’s find out… How to Buy Dagcoin? Off the bat, let’s talk about obtaining coins in the first place. Buying dagcoins couldn’t be easier or more straightforward. All that’s really required is a quick visit to SwipeX and a short sign up process. To protect you from identity theft you’ll need to go through a quick verification process. A copy of your ID card, passport, or proof of address will be needed here, so be sure to have one of the above on hand. Once you’ve signed up, we’d highly recommend enabling 2-factor authentication. This works in a very similar way to most banks and Facebook in that it doesn’t just require a username and password, but also confirmation from your phone in order to gain access. It’s always better to be safe than sorry, especially when it comes to your finances. With that all out of the way, there’s just one thing left to do before beginning your Dagcoin journey — buy some dagcoins. However, if you’re a very lucky individual who’s received a Dagcoin Gift Card from a friend or relative, you can simply redeem this instead. Get your Dagcoin Wallet Now that you have dagcoins, you’ll need somewhere to keep them. In the same way you need a physical wallet to store regular money, you need a digital wallet to store your dags. For that reason, you’ll need to click here to download your free Dagcoin wallet. It doesn’t matter if you use Android or iOS, PC or Mac, there’s a wallet version for you (even you, Linux users!). If the idea of a wallet stored on a physical device doesn’t work for you, then you can set up a web wallet which is accessible via any device that can access the web. Now that you either have the DagWallet app or the online web wallet, you not only have somewhere to store your dags, but the possibility to send and receive them too. Just send your dags to your wallet, and you’re all set. - You can save them with Dagcoin Grow! Dagcoin Grow works in a very similar way to a fixed bond. For those unfamiliar with a fixed term bond, you choose the timeframe you want to invest for, and you receive a guaranteed percentage as a return at the end of the period. With Dagcoin Grow you can invest your dags for 12, 24 or 36 months. The length of time you invest for and the amount you invest will dictate how many extra coins you receive at the end of your investment period. To learn more about Dagcoin Grow, click here! - Spend them at one of the 1,500 merchants who accept Dagcoin! There is nothing many of us like more than to spend our money. With Dagcoin’s Merchant Finder site it couldn’t be easier to find the best place to spend your dags. You can search to see which stores and businesses accept Dagcoin in your local area or by category, for example, groceries, clothes or restaurants. If you are looking for something, in particular, you can simply type in the search box the kind of business you are looking for. Depending on the type of business you may be able to order online, visit the business in person, or do either. At all of these businesses, you will be able to pay in seconds with your Dagcoin wallet for Dogecoin Card. To see what kind of businesses are on the Merchant Finder, click here! - Spend or earn dags at the Dagmarket or Dagitally! Dagmarket is a place where people can sell items that they no longer want or need, very similar in many ways to websites like eBay and Gumtree. However, on Dagmarket Jobs, people also can sell their services too. This is the perfect place to find web developers, copywriters, graphic designers, and other freelancers. Dagmarket is somewhere where you can buy and sell anything. But what about if you just want to buy or sell something that’s digital? Say a piece of software, digital artwork, or presentation template? That’s where Dagitally comes in, and it works just the same as Dagmarket! - Call anyone at any time with Dagtelecom! Dagtelecom is an app for Android and iOS smartphones and tablets that allows users to make and receive calls and SMS messages, and pay for these using their dags. Dagtelecom users can call each other free of charge too. - Bet high or low with TwiceDice! TwiceDice is an online casino and betting platform that features hundreds of different games, from casino games, to slots, to esports, you name it, it’s there. TwiceDice utilising a specialised token known as Dagchip, which can be converted from dagcoins via SwipeX. It’s safe to say this is the way to make some serious extra coins for those of you that are bold enough.  All the options above are just the tip of the iceberg of what it is possible to do with your dags. A quick scroll through our blog will show you a whole stream of different options, along with many that are in development and are due for release in the near future, so watch this space! Conclusion Buying dagcoins and getting started couldn’t be easier. All you have to do is create an account with SwipeX and buy your dagcoins. Once you have your dags you will need somewhere to store them. Simply download the DagWallet app to your phone, tablet or computer and you are ready to go.  The question now is what are you going to do with your dags? You could invest them into Dagcoin Grow, and in 12, 24 or 36 months see a fixed return on your investment. You could also go to the merchant finder and search for businesses in your local area or beyond where you would like to spend your dags. In turn, you could also go to the Dagmarket and see what second hand or unwanted items you might want to buy. There are many other things that you can do with your dagcoins that we did not have time to mention here, and many more that are in the final stages of development such as Dagtelecom, Dagcoin Games, and the online content portal Dagitally. Whether you are looking to send money cheaply and quickly around the world, take your business to the next level, or a viable alternative to cash and fiat currencies, the Dagcoin ecosystem is the place for you. Join the growing community utilising the currency of the future, today.

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14 July, 2021
Why Cryptocurrency Can’t Remain Entirely Anonymous

In order to achieve a more accessible currency globally, the cryptocurrency sector needs a serious change of direction. It is right and natural for each country to have its own currency based on crypto technology and transparent solutions. Currencies and money that aren’t nationally issued, can exist alongside cryptos. These can be “people’s money” that is based on community and people’s trust.  These alternative currencies, i.e. cryptocurrencies, however, will not be anonymous Wild West-type payment methods. They have to be transparent, providing assurance to the country that its people cannot use these monies for participating in or supporting criminal activities, avoiding taxes and hiding assets. Individuals’ transactions, as well as governments’ transactions using national cryptocurrency, need to be transparent. In this way, we can move towards a society in which we can talk about having trust in government and monetary policies, as the technology behind cryptocurrency can offer the necessary transparency. Today, even legendary Estonian banking and finance experts have publicly admitted that if sooner or later, an alternative to money will be found and a cryptocurrency with the right goals will be taken into use, then it’s better to be the one to take the bull by the horns. Estonia has the capability to take the initiative as the interest in developing different versions of cryptocurrency in a digital country like Estonia is enormous. What might be the solution? Dagcoin’s community is mainly in developing countries where the need for cryptocurrency is greater. We’ve been guided by the principle of smaller amounts of crypto to larger numbers of people, in order to avoid the accumulation of capital to only a few individuals. To avoid price fluctuations caused by a volatile market, we’ve also created a new way of pricing cryptocurrency. The price is based on fundamental values, which are the number of users and the number of vendors. The more or fewer there are users and vendors, the higher or lower the value of Dagcoin. As a result, the currency will have a more transparent value and users and vendors needn’t worry about the price fluctuating from hour to hour, day to day or week to week.  Unlike Bitcoin and other cryptocurrencies, Dagcoin is not after anonymity. This is best shown by the analytics we’re currently developing, which will, in the future, provide regulatory bodies the opportunity to check that the currency is not being used for unlawful transactions. At the moment, the cryptocurrency world is like traffic without traffic lights and traffic signs. Dagcoin wishes to change this, but still maintain people’s right for making transactions freely and comfortably.  In order to achieve this, Dagcoin is using directed acyclic graph technology (DAG). The operating principle of DAG-chains differs from blockchains, as validating transactions doesn’t require expensive mining, instead each new transaction helps validate previous transactions. Thanks to our technology, Dagcoin is faster, has inexpensive (almost non-existent) transaction fees, and is more environmentally friendly than Bitcoin. Thanks to affordable transaction fees and accessibility, Dagcoin is going to make digital currency and banking available to nearly 2 billion people, who have, so far, not had these opportunities. Dagcoin has the largest number of users in developing countries like India, Indonesia and Columbia. Today, we’re already changing the way in which these countries’ communities trade with the rest of the world and how they sell their products and services. For example, it is now also possible for an Estonian to buy Columbian design services using dagcoins. A Columbian design company can then use those same dagcoins to pay their employees, who can go on to use dagcoins to buy food from the local café or shop. The food vendors can, in turn, buy produce like meat and cheese from local farmers using dagcoins. Farmers can then pay their employees in dagcoins. Building similar payment chains, we’re changing the economic system of the world. It is undeniable that the cryptocurrency market still needs a lot of work to achieve the goal for which the currency was initially created – usability. It is important for people to notice the problem and not see cryptocurrency as just a financial instrument.

#Blog
30 June, 2021
How should cryptocurrency be used?

More and more often, the opinion is heard that cryptocurrency will start to replace our current fiat money (i.e. legal tender backed by a central government) because all transactions, including international ones, will be faster and more affordable than what the current banking system can enable. It is not possible to “print” more cryptocurrency and people have full control of their transactions.  While people living in Europe, for example, find making bank transfers and instant payments in a matter of seconds over smartphones to be commonplace, there are about 2 billion people in the world who have no access to banking at all, which means they also have no access to digital currencies. They have no credit score to show financial institutions, telecommunications or even insurance companies their creditworthiness. Therefore, if they wanted to apply for a loan to advance their life or business, financial institutions would not be able to provide it. They can buy and sell products or services only on the limited local market for cash, leaving them without access to greater product choices or a larger client base.  The way cryptocurrencies are designed, gives these people access to digital currency, as anyone with access to the internet can create their own cryptocurrency wallet and then make transactions. Access to the internet varies regionally but it is only a matter of time until it spreads everywhere in, for example, Africa. However, as infrastructure and general societal preparedness is simply not quite ready for cryptocurrencies to be taken into daily use, the internet still has time to spread wider. Bitcoin is often thought of as digital gold. While not its primary goal, Bitcoin has set a course for the financial world and future digital currencies. Of course, today, ten years later, there are better and faster solutions and a different financial model available for this. Bitcoin will likely never be this kind of “people’s money” to help those 2 billion we mentioned earlier, but at best, it could become “people’s gold”. There is no cryptocurrency today that is truly and widely usable and proper competition for our everyday currency. Depending on the cryptocurrency, you might be able to purchase products and services here and there, but more often than not, this process goes through a third party, i.e. a platform that converts the cryptocurrency from the client into fiat money, like the Euro, that the provider then receives into their account. This service tends to carry huge fees or use terrible conversion rates. Cryptocurrency should properly be used without a conversion process. The vendor should accept cryptocurrency and use it to pay their supplier. Today, we’re at a point where this is implausible for many, as price volatility has made vendors very cautious. Merchants don’t want to accept money whose price fluctuates day-to-day.

#Blog
16 June, 2021
Max Vorovski - the most dedicated athlete in Estonia

Max Vorovski (32) is probably one of the most undervalued athletes in Estonia. He began practising martial arts at the age of eight but has had to put up with poor financial support and a series of unfortunate events throughout his career. Nonetheless, he has managed to create a name for himself in the world of kickboxing, and over the past few years, Dagcoin has continued to have his back. In his own words, his teenage life wasn’t easy. “I got easily irritated and I couldn’t control my emotions, nor my reactions. I had the tendency to get violent once provoked, and of course, I followed the steps of my older friends, even when it would have been wiser not to. Therefore I sometimes find it difficult to express the gratitude I owe to kickboxing. So many of my beliefs are based on what I learned through this sport, mainly, of course, self-discipline and respect for others.” Max is the polar opposite of the image that comes along with his choice of career and sport. Instead of a murmurous, harsh-handed, and unpredictable martial arts professional, he’s a restrained, humble and utterly down to earth man sitting across the table. All this despite (or thanks to) a rather difficult emotional and professional path. Every professional kickboxer in the world probably dreams of making it to the kickboxing elite league, Glory. Max was close to getting a contract signed twice, but life had other plans for him. Before getting a chance to take part in Glory, things took a tragic turn as Ramon Dekkers, the kickboxing legend, trainer, and friend, suddenly passed away in 2013. Max had been living in Breda, Holland for three years and training under Dekkers when the tragic event occurred. The incident had such a severe emotional impact on Max that he returned home to Estonia and decided to turn down the offer from Glory. The second time Glory offered Max a chance to compete, he was struck with unfortunate health problems. After the first unsuccessful attempt to make it big, Max decided to start training and competing on his own. Instead of a professional team, he had friends and family accompanying him to competitions. He managed to win six consecutive matches against ruling world champions. This, of course, did not go unnoticed by Glory, who for the second time offered Max a chance to compete. On the day of the fight, Max woke up with a 39-degree fever and tonsillitis. Only through pure willpower he managed to force himself to the ring but lost the fight to Yassine Ahaggan 1:4. “Kickboxing has taught me that self-pity doesn’t create value in your life. Being unhappy and not doing anything about it doesn’t take you anywhere. You have to collect what’s left of you and force yourself through hardships. What needs to be remembered is what got me to where I am, and to have a clear vision of what’s next and how to get there. This doesn’t only apply to sports but to life in general,” states Max, on why he has never surrendered to any sort of pain in his life. One thing Max always does after a fight is thanking the opponent: “A dignified winner knows what his opponent will have to go through after the match. To see your wife or mother in tears because of the injuries or for your child not to recognize you, how you handle that and still find the strength to return to the ring is what shapes a real winner.” That is why Max finds the bashing culture very problematic. In his eyes trash talk should not be tolerated by the sports community, as for him, kickboxing is first and foremost about respect and discipline, not about showing off and clout. In his opinion success doesn’t come from the perfect routine and fast reactions, but rather from a smart strategy and mental balance. “My aim is never to seriously hurt or cause permanent health damage to another. In my training, I never let pupils who do not have professional ambitions fight against each other. Also, I no longer react physically to a provocation because I know what this might cause. As an athlete, your aim can never be to deliberately hurt someone. The person you are actually facing in the ring is yourself. It all starts and ends with one person and that’s you. How you leave the ring, whatever the result, will determine who you are as a person and what is it you still need to work on yourself,” says Max. This is why Max also finds it extremely important to talk about bullying at schools. In his eyes, the perfect people to touch these topics are athletes like himself. “You have to bring the bully to the ring so they’d know what it means to get hurt. And the ones being bullied, need to learn how to protect themselves.” This, however, is only one way to approach the problem of bullying. In reality, it’s a multi-faceted situation where the bullies normally come from difficult families, or the issue is rooted in something deeper. Practice, however, can offer a support system to a child. Students need to be disciplined, but not only that, they also need a friend who’ll listen and be there to give advice. “I was lucky enough to have trainers who grew to be my confidants and through that, I found purpose in life,” says Max on the importance of dedicated trainers. This makes it all the more surprising that Max has come to a decision to quit kickboxing and turn to classical boxing. “I have been a professional kickboxer for 17 years and I feel it’s time for a change,” he says, adding that today he has grown even more fond of boxing. “Traditional boxing requires cleverness. If in MMA and kickboxing you’ll have an advantage based on pure physical strength, then in boxing you need to have a very thorough strategy. You can not win only by hitting someone.” Also, the fact that boxing offers more opportunities and higher competition funds. Classical boxing is an Olympic sport and has a different kind of audience. “Boxing tends to be loved by a more colourful and mature audience. While in MMA it’s acceptable to hit your opponent who is already lying on the ground, in boxing this is prohibited. So there’s less violence and more sport,” says Max on why he came to the decision to quit kickboxing after 17 harsh, but successful, years. Today, more than ever, he feels that certain sports have lost the essence of respect for the opponent as for sport in general. Instead, we see a parade of big but vulnerable egos playing a dangerous game. This might be one of the reasons why very often, martial arts are seen as a violent sport. However, the violent seeming blows and kicks are mainly polished techniques and decisions which have to be made within a fraction of a second which will then determine the further course of the match. Max, however, believes that people who are happy and satisfied with their lives should not think about going professional at all. “Within these sports you need willpower. Not only in the ring but in life in general - willpower to live. This willpower comes mostly from hardships. Kickboxing gives you the opportunity to use this power consciously and purposefully. Not on the streets.” Over the last 10 years, the popularity of kickboxing has consistently been growing in Estonia. There are world-class fighters such as the sibling duo Mosairs, Kevin Renno, Edvin-Erik Kibus, Andra Aho, and others. Despite all this, financing is still poor and there’s a lack of professional trainers, managers, teams et al. Max says, on one hand, this is caused by the poor reputation and on the other hand the lack of work within the community itself. “Firstly, kickboxing is not an Olympic sport. Secondly, we as athletes need to show the public that we’re not animals. If you cannot control your emotions like a professional, you’ll never be successful. Of course, sometimes the emotions get the best of you, but what you should learn in practice is to not pay attention to them.” Max says that if this kind of level in kickboxing has been reached within the current conditions then it can only get better from here. That’s why he is thankful that Dagcoin has been supporting his journey for the last few years and believing in his mission. In addition to changing his path in sports, together with Dagcoin his dream of a sports school will come true. “I want to become a trainer. I have dedicated my whole life to kickboxing and now I want to pass this knowledge on.” Max is a father to a five-year-old daughter, who, for the sake of her parents, has chosen dancing over kickboxing. “I’m not familiar with any professional kickboxer who’d want their children to choose the same path and go professional,” he laughs. He’s happy that his daughter is into dancing but if she decides to start (kick)boxing, she’ll have the full support of her father. In Max’s words, sport is akin to meditation which forces you to live in the moment, 100%. Understandably you need to take good care of your health but if you love what you do and strongly believe in achieving anything you want, you’ll push through whatever obstacle lies on your way and in the end, leave the ring of life as a champ.

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02 June, 2021
There is hope left for Estonian skiing

Alvar Johannes Alev is a 27-year-old Estonian cross-country skier whose results have been adversely affected by the poor winters at home, a lack of supporters, and the scandals that have torn through Estonian skiing circles in the past few years, making a career in skiing an even more difficult undertaking. However, Alev has a brighter outlook towards the future, as he has secured two training seasons with the Norwegian ski club, Heming. For nearly half a year now, Alev has been training with Heming, one of the best ski clubs in Norway and as a part of Team OBOS Norway. The skier knew that if he wanted to accomplish anything in the field he loves, he’d have to look further afield from Estonia. That’s how he ended up choosing between four Norwegian ski clubs and finally picking Heming. “Norway is the best skiing country in the world, so who better to learn from than the best? Secondly, the conditions here are great with regards to weather and there are still things to learn from Norwegians about technique,” says the young skier, optimistic about the future. Taking into account what has happened in the Estonian skiing field in the past years, both formal and private financial support for skiers has practically dried up. Thus, Alev has had to deal with his career on his own. Looking for training and competing opportunities, financial support and everything else that goes with this profession. Inevitably, this will have an effect on skiing results and as it is, his results have remained below his true potential. Because the athlete gets to focus mainly on the sport itself while training in Norway (the club is responsible for administrative tasks) Alev is hopeful, “Thanks to coming to Norway, I can at last focus almost only on the sport itself and I hope that with the support I have behind me, I can show some results in the 2021 WC and the 2022 Olympics.” Dagcoin and Alev crossed paths or, more appropriately, skis, in the spring of 2020, when Nils Grossberg, the owner of the company, saw that despite the poor state of Estonian skiing, Alvar Johannes hadn’t let his wish to ski and dream of making it to the Olympics fade. Therefore, it was decided to support the determined athlete for the following two seasons, without which, the skier admits, he’d only have been able to participate in the preseason training. Alev is really making the most of this sponsorship, with training hours clocking in at nearly a hundred a month and competitions every weekend. “I’m not complaining, but living in the moment and being happy that I still get to ski today,” says Alev, currently a student of Physical Education and Sport at the University of Tartu, who has also previously studied and skied in the USA. “In light of the current situation, I can see an opportunity to rebuild the skiing field in Estonia. Of course, athletes themselves will have to show good results but they still can’t do it alone. If, in addition to the physical and mental preparations, you have to take care of the administrative tasks, then inevitably, in a field where every hundredth of a second counts, your results suffer,” Alev says, explaining why support for athletes is so important. On our part, we wish Alvar Johannes success in and determination for the upcoming and following seasons and we hope that the best in Estonian skiing is yet to come!  Alvar Johannes Alev is an Estonian champion in both the 15 km freestyle and the 15 km + 15 km skiathlon. Additionally, he has placed 2nd in the 20 km mass start freestyle of the esteemed North-American students’ NCAA Championships. He has won the Balkan and Slavic Cups in, respectively, 10 km and 15 km Classical, and 10 km freestyle events. His results also include an 11th place in the Scandinavian Cup classical-style sprint and a 20th place in the FIS Junior World Ski Championships 10 km freestyle event in Liberec. He has been a member of different Estonian teams since 2012. He has taken part in the Lahti WC and represented Estonia on several occasions in both the Junior and U23 Championships.

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19 May, 2021
Why is the future of cryptocurrency uncertain?

Cryptocurrency is the better, simpler, and inexpensive version of our regular everyday currency, which is mainly used for interpersonal transactions. Most people have, unfortunately, misunderstood the idea behind cryptocurrency. It is often thought to be similar to stocks and only meant for trading on the stock exchange – buy cheap and sell for profit. According to Kris Ress, the strategist and visionary behind the Estonian cryptocurrency Dagcoin, “(...)if we don’t change this attitude and continue to ignore the significant benefits of alternative currencies, then the future of cryptocurrency will become uncertain.” In September 2019,  a short and snappy news title announced: “Bitcoin Chaos Continues”. The contents were ominous – “Cryptocurrency values have collapsed this week and bitcoin has lost nearly a fifth of its value. Bitcoin currently costs 7,346 Euros. As recently as on Monday, the cryptocurrency was valued at over 9,000 Euros.” If you weren’t familiar with the background, you’d think that it was indeed an awful story. Someone will have lost a lot of money. Sadly, this is just another news story that adds to an already distorted picture of cryptocurrency as something to be traded. How has this image developed? We’ve all heard incredible stories in the media of people becoming millionaires almost overnight by investing in the right cryptocurrency at the right time, or the kinds of price changes this or that crypto has undergone. A large part of mainstream media focuses primarily on price changes and money-making. We’re also told that institutional investors, consisting of investment funds, venture capital funds, pension funds, insurance companies and commercial banks, are just about ready to enter into the crypto market, explaining that when this happens, cryptocurrency will become real money, causing a huge buying craze and a price increase. They paint a hopeful picture to get more and more people to start buying crypto right away so that when institutions do finally enter the market, their investment values will be increased. In reality, it isn’t known if, when and in what direction institutions will enter the crypto market as it will be influenced by future regulations and global developments. However, if these investments are made and funds buy up large amounts of coins, the division of crypto assets will change from what has already been criticised as a very concentrated distribution, where large amounts of assets or coins are held by a small number of people, to even more condensed distribution. As a result, the danger of volatile crypto prices will increase even more, as holders of large amounts of coins can flood the market, causing a great rise in offer and decrease in price, which in turn can cause serious financial losses to many people. Ideologically speaking, the holders of one cryptocurrency should be quite dispersed and hold small sums to guarantee stability and wide distribution. However, as cryptos are currently seen as investment options, everyone looks for opportunities to increase the value of their investment portfolio. There’s no room here for wide distribution and use. In addition to the media, training courses and crypto chat groups are very one-directional: how to trade better with crypto? When to buy and when to sell? Which project to invest in? How to read graphs and patterns? What news to follow and what not to take seriously? On the other hand, groups and courses that talk of long-term holdings, the true uses of projects or cryptocurrencies and real value creation, are like the proverbial needle in a haystack. The future of cryptocurrencies is uncertain if things go on like they have, with the mainstream media and instructors talking of crypto as a financial instrument.

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05 May, 2021