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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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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.

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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.

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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.

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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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Reality Hits as Dogecoin Tanks in Value

Despite seeing a tremendous increase in value since its inception, Dogecoin saw a sudden drop in value this past weekend, despite considerable confidence in its performance from supporters. The -5.8% change in valuation followed the appearance of Elon Musk, Dogecoin’s most prominent champion, on the U.S. comedy show Saturday Night Live. Musk’s actions have historically had a great deal of impact on Dogecoin’s increase in value, with single tweets encouraging many to buy up the currency en-masse. Musk’s appearance on SNL was expected to have a similar effect, with supporters purchasing more dogecoin in anticipation, only to be met with a disappointing dip. By Sunday, 9.am. ET, dogecoin had dropped to 0.56 USD, undoing all of the previous week’s gains. Due to Dogecoin not having a finite number of coins, it’s often referred to as an ‘inflationcoin’ or ‘memecoin’, the latter term referring to its value being mostly affected by memes generated and shared by public figures. Although holders still remain confident that the coin will breach the 1.00 USD mark, there’s little if no evidence that this will happen, with the current trajectory taking a somewhat chaotic path. Fortunately, there are safer coins to make long-term investments in, one of them being Dagcoin, which has steady and consistent growth in value over the past 2 years.

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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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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.

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.

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.

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.

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.

Reality Hits as Dogecoin Tanks in Value

Despite seeing a tremendous increase in value since its inception, Dogecoin saw a sudden drop in value this past weekend, despite considerable confidence in its performance from supporters. The -5.8% change in valuation followed the appearance of Elon Musk, Dogecoin’s most prominent champion, on the U.S. comedy show Saturday Night Live. Musk’s actions have historically had a great deal of impact on Dogecoin’s increase in value, with single tweets encouraging many to buy up the currency en-masse. Musk’s appearance on SNL was expected to have a similar effect, with supporters purchasing more dogecoin in anticipation, only to be met with a disappointing dip. By Sunday, 9.am. ET, dogecoin had dropped to 0.56 USD, undoing all of the previous week’s gains. Due to Dogecoin not having a finite number of coins, it’s often referred to as an ‘inflationcoin’ or ‘memecoin’, the latter term referring to its value being mostly affected by memes generated and shared by public figures. Although holders still remain confident that the coin will breach the 1.00 USD mark, there’s little if no evidence that this will happen, with the current trajectory taking a somewhat chaotic path. Fortunately, there are safer coins to make long-term investments in, one of them being Dagcoin, which has steady and consistent growth in value over the past 2 years.

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.

JPMorgan to Launch Managed Cryptocurrency Fund for Private Clientele

News has emerged that banking giant, JPMorgan Chase & Co. is to begin offering private investors access to an actively managed Bitcoin fund. This move is partly due to the JPMorgan analysts identifying a growing interest in cryptocurrency from banks, as well as Bitcoin’s volatility seemingly decreasing over time. The latter is a significant factor due to this offering being directly dependent on bitcoin’s performance. Whilst unsurprising, this is still a major move for the group that flys in the face of their previous stance on the currency. JPMorgan CEO, Jamie Dimon, has previously been highly critical of Bitcoin, referring to it as a ‘fraud’ as well as alluding to its use by criminals. Dimon rescinded these comments last year, but still maintains a somewhat critical stance, stating that Bitcoin is not his ‘cup of tea’. This move is the latest in the group’s progressive foray into digital currencies and blockchain over the past several months. A recent report highlighted the banking group’s plans to partner with large Taiwanese banks in order to clear transactions via blockchain solutions. This news came hot off the heels of their announcement to provide a similar solution for the State Bank of India. Sources have indicated that JPMorgan’s private Bitcoin management fund is slated to begin operating this summer. The group is yet to provide an official statement or confirmation of the product.

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.  The concept of decentralisation stands in contrast with the everyday traditional financial services that are generally centralised, meaning controlled by a single entity such as a central bank or financial institution which also gives them total control over their users money. As said, DeFi applications do not require intermediaries or arbitrators, it’s sometimes referred to as ‘open finance’. From lending and borrowing platforms. to stablecoins and tokenized Bitcoins, the DeFi ecosystem has launched an expansive network of integrated protocols and financial instruments. The code of DeFi specifies the resolution of every possible dispute, and the users maintain control over their funds at all times. This reduces the costs associated with providing and using DeFi products and allows for a frictionless financial system. With over $15 billion worth of value locked in smart contracts, decentralised finance has emerged as the most active sector in the blockchain space today, with a wide range of use cases for individuals, developers, and institutions. What are the primary features of a DeFi?  First of all the system foundation of DeFi blockchains are permissionless funds, which allow anyone to access the application on a DeFi protocol and trade over the network without requiring anyone to sanction it. Secondly, the features are open source and transparent. The coding on a DeFi system is open source so the code is visible to every user, allowing everyone on the network to audit and verify the security and functions. This transparency of the network doesn't tamper with the user's privacy either, since all users are identified by their digital signatures. Additionally, open-source coding ensures DeFi's credibility. Another important component is interoperability. DeFi is easily compatible with the integrations of other applications. It, therefore, has the scope to expand further, offering new financial services and even developing new financial marketplaces. Also, accessibility. Anyone with a computer or a smartphone and a decent internet connection from any corner of the world can join a DeFi network. This feature, in particular, gives decentralised financial systems the upper hand over traditional banking systems. Especially for communities which cannot avail of essential banking services due to geological issues. The driving idea behind cryptocurrencies has always been the intent to decentralize power and improve our current financial system to become more transparent and less vulnerable to fraud.  DeFi is nothing but a step further in that direction. The real strength of DeFi lies in taking the current system, that on a large scale depends on human processes which also includes bureaucracy and a lot of paperwork, and automating it while at the same time cutting costs and improving transparency. Decentralised Exchange aka DEX As you may have figured out, DeFi is a very wide term, so let's cover some of the most popular use cases within it. A decentralised exchange (DEX) for example, is a cryptocurrency exchange which operates without a central authority. Decentralised exchanges allow peer-to-peer trading of cryptocurrencies and do not expect the user to transfer their assets to the exchange. DEX therefore also reduces the risk of theft which might occur from exchange hacks.  The most obvious benefit to using a decentralised exchange over a centralised one is their trustless nature. You are not required to trust the security or honesty of the exchange, since the funds are held by you in your personal wallet, and not by a third party. Another advantage to the decentralised model is the privacy it provides. Users are not required to disclose their personal details to anyone, except if the exchange method involves bank transfers. In that case, your identity is revealed only to the person that is selling or buying from you. The downside of DEX is that they're generally more difficult to use, especially for beginners, as they tend to have relatively complicated ways of depositing to the smart contract. For example, wrapping Ethereum or Bitcoin. Also, the possibility to exchange fiduciary to crypto is very, very rare as DEXs usually only exchange cryptocurrencies. Stablecoins Another case worth mentioning is stablecoins. Stablecoins are essentially cryptocurrencies that have their value tethered to the value of another cryptocurrency, a physical currency like the U.S. dollar, the price of a valuable physical asset like gold, or some other exchange-traded commodity. The primary goal of stablecoins is to reduce the risks associated with the price fluctuations of a regular cryptocurrency and to offer price stability. Currently, most stablecoins exist as tokens on the Ethereum blockchain across the DeFi space and are used for payments on DEXs or for lending and borrowing purposes. Some most popular stablecoins that you may have heard of are USDT, USDC and DAI. Decentralised lending protocols and yield farming All the major decentralised protocols are based on Ethereum, meaning that one could lend or borrow any ERC-20 token. Peer-to-peer lending and borrowing platforms are one of the most extensively used applications of the decentralised finance system. DeFi lending platforms give out loans to individual borrowers or organizations in a trustless way that requires no third-party interference. This allows lenders to earn interest in the form of crypto coins on the funds they deposit.  DeFi lending platforms are easily accessible to both lenders and borrowers, which is one of the advantages DeFi lending platforms offer over traditional lending procedures. Secondly, it’s the instant fund settlements through smart contracts. On DeFi platforms the transparency of the fund flow is much higher. Therefore risks are reduced and the whole lending process is more flexible.  Compound is a good example of a DeFi lending and borrowing protocol. Compound is an algorithmic autonomous interest rate protocol, that by providing interest rate markets on Ethereum, allows lenders to earn interest on the assets they have deposited in the Compound lending pool. The Compound smart contract is coded to match borrowers and lenders and calculate the interest rate for every specific situation. AAVE, Compound and Maker are the major lending protocols with billions of dollars of value locked up in their smart contracts and they all have a simple concept. You can loan out cryptocurrency tokens or borrow them and as mentioned above, they are all non-custodial, meaning that the protocol's creators do not have control over your holdings. Yield farming, also known as liquidity mining is one of the most recent DeFi use cases. This is the practice of locking up digital assets in return for rewards, which are usually automatically delivered by a smart contract. In many cases yield farming projects will require that one stakes liquidity provider tokens that are received after providing liquidity, in terms of assets at certain decentralised exchanges, for example, Uniserve. These tokens are then used to mint a new type of token that can either be sold or used. Yield farms are generally considered high risk, high reward since locked assets can be lost if there is a backdoor or loophole in the farm's smart contract.  Before you leave! Having a look at the numbers in the DeFi world which go up to billions, it’s definitely something worth taking a closer look at. It’s an interesting time to be alive and witness all these changes taking place right under our eyes. So let's continue the work towards the goals of crypto usability and adoption.  Before you leave, however, we’d like to remind you to listen to the DTD video, too. It covers many more DeFi related topics such as the flaws in the use of token assets, peer-to-peer protocols, token markets, minting schedules etc. A lot of interesting and useful information if you’re just as excited about DeFi as we are! You can find it here: https://bit.ly/3xfZQcS

#cryptonews
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.

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.

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.

Reality Hits as Dogecoin Tanks in Value

Despite seeing a tremendous increase in value since its inception, Dogecoin saw a sudden drop in value this past weekend, despite considerable confidence in its performance from supporters. The -5.8% change in valuation followed the appearance of Elon Musk, Dogecoin’s most prominent champion, on the U.S. comedy show Saturday Night Live. Musk’s actions have historically had a great deal of impact on Dogecoin’s increase in value, with single tweets encouraging many to buy up the currency en-masse. Musk’s appearance on SNL was expected to have a similar effect, with supporters purchasing more dogecoin in anticipation, only to be met with a disappointing dip. By Sunday, 9.am. ET, dogecoin had dropped to 0.56 USD, undoing all of the previous week’s gains. Due to Dogecoin not having a finite number of coins, it’s often referred to as an ‘inflationcoin’ or ‘memecoin’, the latter term referring to its value being mostly affected by memes generated and shared by public figures. Although holders still remain confident that the coin will breach the 1.00 USD mark, there’s little if no evidence that this will happen, with the current trajectory taking a somewhat chaotic path. Fortunately, there are safer coins to make long-term investments in, one of them being Dagcoin, which has steady and consistent growth in value over the past 2 years.

JPMorgan to Launch Managed Cryptocurrency Fund for Private Clientele

News has emerged that banking giant, JPMorgan Chase & Co. is to begin offering private investors access to an actively managed Bitcoin fund. This move is partly due to the JPMorgan analysts identifying a growing interest in cryptocurrency from banks, as well as Bitcoin’s volatility seemingly decreasing over time. The latter is a significant factor due to this offering being directly dependent on bitcoin’s performance. Whilst unsurprising, this is still a major move for the group that flys in the face of their previous stance on the currency. JPMorgan CEO, Jamie Dimon, has previously been highly critical of Bitcoin, referring to it as a ‘fraud’ as well as alluding to its use by criminals. Dimon rescinded these comments last year, but still maintains a somewhat critical stance, stating that Bitcoin is not his ‘cup of tea’. This move is the latest in the group’s progressive foray into digital currencies and blockchain over the past several months. A recent report highlighted the banking group’s plans to partner with large Taiwanese banks in order to clear transactions via blockchain solutions. This news came hot off the heels of their announcement to provide a similar solution for the State Bank of India. Sources have indicated that JPMorgan’s private Bitcoin management fund is slated to begin operating this summer. The group is yet to provide an official statement or confirmation of the product.

JPMorgan Experimenting With Blockchain Solutions For Taiwanese Banks

With rejected and returned payments being rife within the Taiwanese banking sector, banking giant JPMorgan Chase & Co. has taken the route of testing a blockchain solution known as ‘Confirm’ with a series of large Taiwan-based banks. Confirm, when used in tandem with JPMorgan’s own clearing solution, ‘PayDirect’, will allow these banks to confirm a recipients’ account information ahead of making payments with almost zero delay. This is a welcome change to many due to the reliance on blockchain authentication adding an extra layer of concrete security. This news comes hot off the heels of JPMorgan’s previously announced partnership with India’s largest bank, the State Bank of India (SBI). The SBI is to begin utilising JPMorgan’s blockchain platform to help accelerate cross-border payments and reduce costs. This process has been dubbed ‘Liink’. Much like Confirm, Liink utilises a fork of the Ethereum blockchain in order to greatly reduce the speed of certain transfers — in this case, cross-border transfers specifically. Deputy managing director of SBI, Venkat Nageswar, had this to say about the state-run bank’s new partnership: “We are excited to be the first bank in India to go live on the network and look forward to closer partnership with JP Morgan on implementation and exploring application as part of the network to better serve our clients(...)” These moves by the worldwide banking giant are another key indicator of wider-spread adoption of blockchain-analogue solutions across the financial sector, and would lead many to believe that competitors will seek to launch similar solutions throughout the globe.

Visa Makes Moves to Allow Fiat Settlements Via Blockchain

Credit card behemoth, Visa, has announced its partnership with Crypto.com in order to allow fiat payment settlements through the use of the Ethereum blockchain. In order to facilitate this, Visa’s treasury will be linked with federally-chartered crypto bank, Anchorage, eventually enabling individuals to exchange USD Coin (USDC) through Crypto.com’s payment network. This method allows Crypto.com to send USDC to Visa’s Ethereum address in order to settle some of the transactions that have been sent through the site’s Visa card program. The payment giant has plans to extend this offering to large Fintech companies and banks that deal in UDSC, BTC (Bitcoin), and ETH (Ethereum). Jack Forestell, Visa’s Chief Product Officer, stated the following during the company’s announcement “(...)crypto-native fintechs want partners who understand their business and the complexities of digital currency form factors. The announcement today marks a major milestone in our ability to address the needs of fintechs managing their business in a stablecoin or cryptocurrency.” Although this move sheds some light on how credit card issuers and banks may continue to welcome cryptocurrency-related services and processes into their offerings, the usage of blockchain technology for such purposes may have some worrisome implications due to the blockchain’s unsustainability in regards to energy usage as well as the length of time taken for transactions.

German Bank Donner & Reuschel Expands Into Crypto Protection Services

— One of Germany’s largest banks is now offering ‘Crypto Protection Services — This comes in response to ‘high market demand’ within the country — Crypto protection services will be implemented within the body ‘as soon as possible’ With cryptocurrency becoming far more approachable to the layman, as well as the adoption of non-fiat currencies seeing fast-moving acceptance throughout German society, Hamburg-based bank, Donner & Reuschel, is now taking steps to integrate ‘crypto protection services’ into its service offerings. With the bank currently holding €9 billion assets under its management, this is a significant move for the German banking sector. Donner & Reuschel spokesman, Marcus Vitt, has the following to say about the decision: “We have been observing the digital assets market for quite some time and are convinced of the potential of blockchain technology also concerning classic securities transactions.” “Blockchain technology will result in the greatest structural change in the financial industry that I have been able to experience so far in my 20-year banking career.” Vitt went on to say, emphasising the importance of ensuring banks move fluidly with the ever-growing interest in cryptocurrencies amongst the broader population. However, this is just one step the centuries-old bank is taking in the midst of the changing digital currency landscape — Donner & Reuschel are intended to implement further crypto-related offerings to their services, although which form these will take is currently an unknown. On a broader level, last December the German government relaxed laws around issuers and holders of crypto-based securities requiring paper certificates as a means of documents transactions — another signifier of the nation heralding itself as one of western nations most ahead of the curve in this sphere.

Japanese E-Commerce Platform Rakuten Now Accepts Crypto Payments

In a recent press release, Japanese online retail company Rakuten announced their plans to begin accepting various cryptocurrencies as payment for goods and services. These payments are converted from the buyer’s chosen currency to ‘Rakuten Cash’, the firm’s own currency, at the point of sale, thereby allowing Bitcoin, Ethereum, and Bitcoin Cash payments across the thousands of partnered merchants across Japan. “For the first time in Japan, there is no limit on the transaction amount and no fee is charged for charging crypto-assets” said the e-commerce giant on their breakthrough move on allowing limitless and fee-free crypto exchanges within the country. With Rakuten boasting almost 100 million registered users, this is far from a small move and is further evidence of the necessity for large scale companies to adapt to the burgeoning landscape of digital currencies.

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Why Dagcoin Sponsors Aspiring People and Organisations

If you ask any athlete, NGO or charity, they will tell you that sponsorship is crucial for them to be able to do what they do. For organisations, sponsorship can give them the public exposure, equipment and funds they need to get a project going. And for athletes, the ability to focus full-time on sport instead of having to juggle between work and training. For some, it might even be the difference between being able to get to an event to compete and not. Giving sponsorships is not just a way for companies to gain exposure and customers, but to give back to the people and projects they care passionately about. In this article, we will run through some of the sponsorships that Dagcoin offers to individuals and organisations and the differences these make… Alvar Johannes Alev Alvar Johannes Alev, 27, is a talented cross country skier from a tiny village in south Estonia, who missed out on qualification to the winter Olympics in 2018 by just 0.7 seconds to an athlete who would be suspended from competition due to doping the following year. Despite this devastating setback, Alvar still has big ambitions to go to the Winter Olympics in 2022 and bring back gold. As Alvar says himself, “skiing is a sport that requires everything out of your body”, and with his training taking up around 100 hours per month, financial support is crucial for him to focus on his training and be in his best possible condition for competition. As he puts it, “there are no athletes that can make it to the top without any financial support”. Having been a member of the Estonian cross country skiing team for the past ten years and a 2nd place in the US NCAA championships to his credits, we are fully behind Alvar’s quest to get to Beijing 2022. World Cleanup Day World Cleanup Day began in Estonia in 2008 with one simple aim, to clean up the small Baltic nation of Estonia. On that first day, more than 50,000 people removed more than 10,000 tonnes of waste in only 5 hours. The event quickly gained media attention worldwide, and by 2019, had snowballed into an event that attracted more than 20 million people from more than 180 different countries. The future of our planet is something we care deeply about at Dagcoin, and that is why we help World Cleanup Day to raise awareness and support community efforts. In 2021, due to the pandemic, this years event on March 20th will be a Digital Cleanup Day. To learn more and take part, click here. Max Vorovski It is fair to say that 2020 was a frustrating year for many sportspeople, with many scheduled events, tournaments and competitions, being cancelled, postponed or played behind closed doors. Like many other sportspeople this has also been a big problem for Estonian professional kickboxer Max Vorovski, who saw two events cancelled and was unable to fight in 2020. For fighters, like many other sportspeople, they need to compete to earn money to live. Therefore, having good sponsors that stick by athletes during this difficult time is important. With the help of sponsorship from Dagcoin, Max has been able to keep training throughout the pandemic and looks to get back to his quest for a middleweight world championship in 2021. And with six wins over former world titles holders on a record that included 32 wins in 38 fights, we continue to support Max as he fights for glory. Junior Chamber International Just like World Cleanup Day, when you are doing something good, it is amazing how quickly it spreads and how many people become involved. Today, Junior Chamber International (JCI) has more than 11 million members in over 120 countries around the world. This is a world away from its origins, with an 18-year-old young man named Henry Giessenbier beginning the Herculaneum Dance Club in his hometown of St Louis (USA) in 1915. The organisation’s (whose member are all aged between 18-40) main aim is to make the world a better place for future generation. They do this by working on community projects that aim to combat climate change, eliminate poverty, and fight inequality – a topic that has been at the forefront of peoples minds and action over the past year. Where Junior Chamber International excel and succeed is that they engage with entire communities from the old to the young, and the unemployed to the big business owners to understand issues and work together to find long-term sustainable solutions. Dagcoin support JCI wholeheartedly in its goals to fight inequality and injustice, end extreme poverty, and combat climate change by 2030. To learn more about what JCI is doing in your local area or to join, click here. Jüri Vips Just last May, we wrote how Juri Vips (then 19) was an up-and-coming Formula 3 race driver, who had had ambitions to test an F1 car, and, ultimately, go on to win the F1 Championship. After finishing 4th in the Formula 3 championship in both 2018 and 2019, one of his dreams came true in 2020. He became the reserve driver for the AlphaTauri and Red Bull F1 team at last year’s Turkish GrandPrix. Although these duties and the Covid-19 Pandemic curtailed his first season in Formula 2 (one tier below F1), he is looking forward to a full season in Formula 2 in 2021. And, as we reported in November last year, because he now has his FIA Super License (that allows a driver to compete in F1), he is just a few good results away from reaching his ultimate goal - to compete for the Formula 1 championship. At Dagcoin, we are so happy to see that our sponsorship is helping Juri edge ever closer to his dreams and are proud of his continued achievements. Conclusion We speak a lot in this blog about Dagcoins aim to provide billions of people in the developing world an alternative to cash for the first time and a way out of extreme poverty, and how Dagcoin is a greener alternative than both fiat and mined cryptocurrencies. These aims match those of both JCI and World Cleanup Day, and this is why we sponsor and work with these organisations. Buts it also worth noting here that without sponsorship Alvar Johannes Alev would not be able to focus solely on his training and goals to reach the Winter Olympics next year, Max Vorovski would have struggled to get through 2020 without any income, and Juri Vips would not be in touching distance of competing in Formula 1. At Dagcoin, we will continue to support organisations with similar goals, as well as talented individuals, to reach their goals. This is just the beginning!

DagWallet or WebWallet, which is best for you?

For those of you that are new to Dagcoin or perhaps cryptocurrencies in general. Deciding which Dagcoin wallet to choose might seem a bit confusing. Thankfully, in this week’s post, we will talk about the two different Dagcoin wallets, their advantages and disadvantages, as well as (most importantly) help you to decide which is best for you. But let’s start by learning a little about crypto wallets in general… What is a Crypto Wallet? We all have wallets and purses, where we keep our cash and cards. Crypto wallets serve exactly the same purpose, providing a safe place to store and access our money. Allowing us to buy goods and services, as well as transfer money to family and friends quickly and easily.  Where they differ from a regular wallet, however, is that no money is actually stored in a crypto wallet. What they do store are unique keys that are used to communicate with the blockchain (or similar technologies such as Dagchain). It is from these that you can make transactions or check your balance.  Broadly speaking, there are three main types of cryptocurrency wallets: Online Wallets – These are wallets that store your unique keys in the cloud.  Mobile or Desktop Application – These apps store the keys solely on your PC or mobile device. Hardware Wallet – These store the unique keys completely offline in devices similar to USB sticks. Below we will discuss the two types of crypto wallets provided by Dagcoin. The DagWallet, which is a mobile/desktop application, and the Webwallet, which is an online wallet.  DagWallet The main aim of Dagcoin is to provide a digital currency that is as useable as possible and accessible to everyone – especially those on the lower end of the economic ladder. That is why the free DagWallet application can be downloaded on both Android and Apple mobile devices (via the Google Play and App Store, respectively), as well as on Windows, Apple, and Linux PCs.  The Android app works on devices from version 5.1 up, meaning that almost all smartphones developed after around 2014 or so, should support the app. As for Apple, any device from the iPhone 5 up will run the app. This means that it is possible to use DagWallet on cheap and old second-hand devices that can be bought for as little as $10.  It is great to say that DagWallet is available and accessible to so many people, but what does it actually do? As described above, it is an app that enables you to check your balance, transfer money, and even buy products from a shop or café in person (if they accept Dags), all from your mobile device. This makes DagWallet a digital wallet that you can carry in your pocket.  However, unlike a regular wallet, where if your cash is stolen, it is gone forever, if thieves steal your phone, they will not be able to access your DagWallet or use your money. This is because only you hold the passwords to access and use your Dags. This makes DagWallet even safer than credit and debit cards, which can often be used to buy things online or make small purchases in person without a pin code or other protections. You also don’t have to wait many days or weeks to get access to your DagWallet again if your device is stolen, all you have to do is download the app to a new device, log in, and you are good to go.  Because your unique keys are stored on your device, this makes it very safe. However, there is one small downside — you can only access your Dags from one device. But what if you want access to your money from multiple devices or you don’t have your own smartphone, tablet or PC, or your device is shared by everyone in the household? We have a better option for you… WebWallet Where the WebWallet differs from the DagWallet is that you can access your Dags from any internet-enabled device, at any time. This is because the WebWallet stores your unique keys in the cloud.  This is the perfect choice if you have multiple devices you want to use to access your money. For example, your smartphone, laptop, and work PC. Likewise, if you do not own a compatible device yourself, this can be shared by your entire family, or even by your whole community.  Because the WebWallet can be accessed from any internet-enabled device, this gives people in the poorest and most remote regions an alternative to cash for the very first time. And this is more people than you may think. In 2019, more than 2 billion people around the world still didn’t have access to a bank account, equating to a mindblowing 1 in 4 people. The WebWallet doesn’t just provide an alternative to cash, it is also a safe place to save money and earn interest. But best of all, both the DagWallet and WebWallet can be used to help people build a credit history.  The only small downside to the WebWallet is that because your unique keys are stored in the cloud, they are slightly less secure than if they were stored on an individual device, which is what the DagWallet provides.  Which Dagcoin wallet is best for you? To make this choice easier, let’s break it down into a few categories: Security – if you want your money to have an extra layer of security, choose the DagWallet.  Use on Multiple Devices – If you would like to have access to your Dags using multiple internet-enabled devices, choose WebWallet. You do not have your own smartphone, tablet or PC – choose WebWallet  You want to make in-store purchases – choose DagWallet Best of all, whichever Dagcoin wallet you choose, it is free to download and use. In turn, with each transaction taking just 10 seconds (wherever it is sent in the world) and costing just 0.0005 Dags, you have access to a much faster and cheaper alternative to the regular banking system. To download your Dagcoin wallet, click here. Alternatively, if you would like to learn more about getting starting with Dagcoin, read our how-to guide. Join a growing community of nearly 600,000 people using Dagcoin.

Dagcoin 2020 Year in Review

2020 saw many changes for the wider Dagcoin ecosystem. From exciting updates on existing platforms to the launch of brand new ones, it's been a bumper year for the Dag-family. This year alone has seen a staggering number of dagcoins distributed to both new and existing users, resulting in almost three billion coins (~2.7B) in circulation. We're also thrilled to announce that over 130,000 new dagcoin users have jumped aboard since the start of 2020, as well as around 800 new merchants now officially accepting the currency in-store. Beyond this, we've launched a variety of new platforms that all accept dagcoin. Some of the highlights include Dagmarket Jobs, a new job listing platform allowing skilled workers to provide services to anyone that needs it in exchange for dagcoins, as well as TwiceDice, a new online casino and betting platform which utilises Dagchip — a digital chip that exists alongside Dagcoin! That's not all though! For the full lowdown, including all the exciting developments for merchants, check out the video above, and don't forget to keep your eyes peeled for all of the exciting things to come this year — 2021 is going to be even bigger!

How does Dagcoin and V-ATM Benefit Merchants?

2020 was a turbulent year to say the least. However, as 2021 dawns, so does the hope of a slow return to normality. The beginning of the year is always important for businesses, with January sales a big part of that. Did you know that on average consumer spending in January is higher than in December? In this blog, we have talked about the many benefits of accepting Dagcoin as a payment method and how it can help improve sales, including: The free Merchant Finder tool that provides free advertising for your business to a growing community of more than 500,000 Dagcoin users worldwide. The free Point of Sale (POS) app that makes it possible to accept Dagcoin payments in your shop just as quickly as card payments. The free Webshop Plugins that make it possible for you to accept Dagcoin payments quickly and easily at your online store. The free email Invoicing tool that enables you to create and send invoices in seconds, and get paid in the same timeframe too. In this article, we will talk about yet another benefit of accepting Dagcoin, V-ATM! But what is V- ATM and how can it help you improve sales in 2021? Let’s find out… What is V-ATM? Put simply, V-ATM is a Virtual ATM that allows you to sell Dagcoins to your customers so that they can buy products from you at a discounted rate using Dagcoin. Where this gets good is the fact that we will reward you in Dags and Euros for selling the coin. This means you will get paid twice, once from the customer and once from us. Giving you the opportunity to offer your customers discounts that your rivals won’t be able to compete with, even the big boys. This is a real win-win for everyone involved. You will attract more customers by offering bigger discounts and earn twice (from us and them). Your customers will get a fantastic deal too, which will make them want to use you again, and Dagcoin will get more users. Moreover, your customers will be buying Dags from you at the current exchange rate. Making your V-ATM a fair place to buy Dags, adding further to your trustworthiness as a retailer. Interested? Keep reading… How it Works – For Merchants Signing up to V-ATM and offering discounts to your customers is a simple 3-step process: Step 1 – Signing up As with almost anything these days, the first thing you will need to do is sign-up online. To do this you will need to go to the Dagpay page and login to your account (if you don’t have Dagpay yet, don’t worry, you can also sign-up here too). Once you are in your account, all you have to do is click on the V-ATM section and follow the on-screen instructions. Step 2 - Print and present the QR code We will review your application, and if all is good, we will send you approval along with everything you will need to get started. In this acceptance pack, you will receive QR banners that you can print out and display in your shop or business location alongside your discount offer. Step 3 - Sell your products using the V-ATM QR code and double your profits This is the easiest part, and what you do best – selling! Encourage your customers to take advantage of the discount they will get by using the V-ATM QR code to buy Dagcoins and pay for the product they want. Because you will be paid by both the customer and us for each sale, you don’t just have the chance to double your profits, but to offer discounts that your competition won’t be able to match. Attracting more customers, reducing churn, and maybe even getting back some old customers that you lost to rivals in recent months or years. How it Works – For Customers In this section, we will cover the process from the customers perspective so that you can guide them if they need any help. Step 1 - Scanning the QR Code The very first thing your customers will need to do is scan your V-ATM QR code using their smartphone. If they do not have an app on their phone to scan QR codes, there are many such apps available for free on both the Google Play and App Stores. Step 2 - Downloading DagWallet The next thing your customers will need to do is download DagWallet. This is the virtual wallet where they can store their Dagcoins and make/receive payments using the coin. They can download DagWallet (and learn more about it) here. Step 3 – Buying Dagcoins Now that your customers have a DagWallet and have been verified, they can now buy Dags from you using the V-ATM at the current exchange rate. This is the same process as a regular Dagcoin transaction, and they will receive Dags to their wallet within 10 seconds of making the purchase. Step 4 – Paying for their Products They are now at the final (and best) part of the process – the purchase of the discounted products. This discount will make your customers happy and more likely to return in the future. In addition, you will receive double the profit too because we will also pay you. It truly is a Win-Win! Conclusion V-ATM is a Virtual ATM that allows you to sell Dagcoins directly to your customers so that they can buy discounted products from you using Dagcoin. We will then reward you in Dags and Euros for selling the coin. Meaning you will get paid twice, from the customer and from us. Because you are getting paid double, this means that you can offer discounts that will make you cheaper than your rivals, maybe even the big boys like Amazon. With such discounts, not only will you be able to make more sales, you will also attract new customers, reduce churn, and even get back those clients that you lost in previous months and years.  Setting up V-ATM is simple and easy. All you have to do is: Go to the Dagpay page and log in to your account (or sign up if you don’t have an account) click on V-ATM and follow the online instructions. Print your individual QR code and display it with your discount promotion in your store or business Sell the discount your clients will get from using Dagcoin V-ATM to buy products from you. Start 2021 the way you want to continue, with more sales and higher profits. Click here to get started. Join a community of more than 1300 merchants and 500,000 clients using Dagcoin.

4 Ways Dagcoin Is Protecting The Environment

As I write this, an iceberg the size of Jamaica is on a collision course with the South Atlantic Island of South Georgia. This is the largest iceberg ever recorded and is another worrying sign that global warming is speeding up. It is becoming clear that when we get in our cars to hop around the corner, turn the heating up one or two extra degrees or jet off on our summer holidays, we are playing our part. Even if we recycle, conserve energy, walk, or ride our bikes, we are still consuming goods and services that are causing global warming and sea-level change. It is only when we all work together and play our part that we can save our planet. Not only for future generations, but also for the diverse flora and fauna that we share this wonderful planet with. One of the biggest driving forces behind creating Dagcoin was to play a part in securing this better future. In this week’s post, we will explain how Dagcoin is helping to save the planet. Dagcoin reduces the need for paper Fiat currencies, such as the dollar, pound, and euro all use paper money. This means that many millions of trees are needed each year just to make money. This is made worse because paper money doesn’t last very long. The average one-dollar bill is in circulation for just 18 months. Compared to 25 years for a 1 cent coin. And it gets worse. If you visit your bank, you will probably be asked to fill in forms or sign documents. In addition, you might also receive bank statements and offers in the post - using yet more paper. On top of this, the chemicals that are used in the money-making process pollute local water sources, poisoning natural habitats and farmland. Dagcoin’s cashless system removes the need for paper money and documents.  Meaning fewer trees are cut down, and less poisonous chemicals enter our water sources. Reducing CO2 levels and protecting vulnerable habitats Dagcoin reduces the need for plastic Countries do not just use paper to make money, they also use plastic. In fact, some countries, like Australia, use money that is entirely made out of plastic. Although it lasts longer than paper money because it doesn’t rip or tear. Its consequences for the environment are very clear. Plastic takes around 1000 years to decompose in a normal landfill site. Not only does it take a long time to decompose, it also releases dangerous chemicals when it does. In a landfill, these chemicals can be contained, but when you see the countless news reports about the amount of plastic in our oceans, the future consequences seem very bad indeed. Credit and debit cards have made it quick and easy for us to make payments both in person and online, and reduced the need to carry cash. However, because they are made almost entirely out of plastic, they are having a negative effect on our planet.  Because Dagcoin is a virtual currency and all payments are made online, there is no need not just for paper money, but also debit and credit cards. Reducing plastic waste and the hazardous chemicals released when it degrades. Dagcoin promotes nature conservation Earlier this year, Dagcoin teamed up with the Clean World Conference to help plan the cleaning of our planet. In 2018, over 17 million people from 157 countries simultaneously came together on World Cleanup Day to clean waste from beaches, streets, rivers, and forests. People and businesses can take part in the event as volunteers, sponsors or partners. Because this is a cause that Dagcoin is passionate about there was only one choice. To partner with the conference and event, not just helping to organise the event, but to spread the word and get more people involved. The next World Cleanup Day is on the 18th of September 2021. Click here to find out more and get involved. Dagcoin creating awareness Just 50,000 people took part in the first World Cleanup Day ten years ago, and look where it is today. It has grown into a massive worldwide event purely by one person bringing a friend and one business attracting another. Dagcoin was created from the ground up, not just as a groundbreaking digital currency that anyone can use anywhere. But as a currency that champions the protection and preservation of our planet. Partnering with the Clean World Conference didn’t just help people to become aware of the event, but also encourages more businesses to join the cause. The more people and businesses that are working together to save our planet. The cleaner our oceans will be, the less waste we will create, and the more habitats we will preserve. Conclusion We have reached a critical point in the story of our planet. No other species in history has changed the earth so much. Human-induced climate change and the destruction of habitats has killed of countless species, and many more are on the brink of extinction. By creating a virtual currency, Dagcoin has reduced the need for paper money. Preserving forests so that they can absorb CO2 and reduce the effects of climate change. In the process, saving the homes of many threatened species. On top of that, the virtual nature of the currency reduces the need for plastics in the form of debit and credit cards. Our landfills and seas are full of plastic that will not just take thousands of years to degrade, but when it does, it will release hazardous chemicals. Reducing the use of plastics will reduce the effects of these chemicals on our planet. Dagcoin has partnered with the Clean World Conference to help plan and promote World Cleanup Day. This partnership has encouraged more people and businesses to join the cause. And this is just the beginning. Join us in preserving our beautiful planet! Have we missed something? Do you have any questions? Get in touch…

North Korea Trying to Show a Twist in Politics with Own National Crypto

The recent surge in cryptocurrency has touched many parts of Asia and some countries are showing interest in creating national digital currencies. The People's Bank of China is close to issuing its own cryptocurrency. North Korea has followed the lead by declaring its readiness to launch national crypto.  Suffocated by countless political and financial embargos, the nation is trying to adopt various policies to boost its economy. Issuing a North Korean digital coin might be an attempt to circumvent such sanctions and even manufacture deadly weapons. Alejandro Cao de Benos, a high-level official of the Democratic People's Republic of Korea, has revealed that the country is now really interested in creating its own cryptocurrency and has adequate manpower and expertise to proceed with the plan. Their currency experts are studying various digital coins in order to decide which of those the value of the proposed cryptocurrency should be linked to. He also said that the new currency will be like traditional ones and there is no plan to back it by North Korean won. North Korea has already opened its door for crypto traders. On Sept 10, Cao de Benos tweeted that citizens are allowed to own digital coins and local developers “are designing crypto wallets and apps at this moment.” Several countries have come forward to help North Korea in the technical aspects of the crypto plan. Some offshore companies have signed contracts with the DPRK authorities for the development of the system for healthcare, education and finance sectors. Although the announcement regarding the introduction of crypto came from a personal level, there is no official statement yet. Is there any real need to launch national cryptocurrency? According to Kayla Izenman, a financial crime and security expert, North Korea has required expertise and resources to issue a cryptocurrency. However, critics are digging out ill motives from the country’s digital coin project. Most of those are related to speculation, counter international sanctions, and financing weapons of mass destruction. Cao de Benos confessed himself that Pyongyang needs digital assets to bypass US sanctions. Without an alternative currency, DPRK will not be able to escape from the international financial system dependency. To make the ground of crypto plan more solid in front of the international community, Benos noted the advantages of cryptocurrencies- transaction speed and cost-effectiveness. Finance experts believe that Pyongyang is going for digital money because crypto transactions are difficult to trace and free from most government regulations. Also, it is very easy to launder such currencies. These features will likely allow DPRK to trade with many countries around the globe. Although evading international sanctions is the main factor behind the country’s crypto initiative, some cryptocurrency experts think that the benefits of such a plan extend far beyond bypassing conventional payment systems. In addition, North Korea may find several countries including Iran, Russia, and Venezuela watching its back who are also exploring national crypto to evade US embargos. Raising foreign capital Being a low GDP country ($28 billion compared to $1.54 billion of South Korea), North Korea has been exploring various ways to raise foreign capital. Cryptocurrencies will surely bring momentum to their endeavour. According to different media, DPRK uses several techniques to collect crypto. Mining farms, masternodes, cryptojacking and participation in new, promising projects are a few among those. The country allowed mining in 2017, which coincided with the rise of the currency. Steven Kim, a researcher from South Korea claimed that the DPRK will figure out if there are any means to exploit cryptocurrencies for financial gain and move aggressively to make the most out of it. North Korean hackers are showing desperate attitudes in hacking into the mining of Bitcoins and steal that money because the price has been rising steeply. Bitcoin is also easy to cash out on the market because of its liquidity. Ambitious for deadly weapons? Another sensitive question is North Korea’s suspected activity for nuclear weapon financing. The country spends a considerable portion of its national budget on military programs. The new structure established after 1970 aimed at collecting foreign money for DPRK authorities. According to a report prepared in 2007 for the U.S. Congress, such initiatives made North Korea $5 billion. Another report of the United Nations Security Council indicated that the country stole about $2 billion by hacking bank accounts and crypto exchanges of 17 countries. Although DPRK leasers repeatedly denied any illegal activities, it is strongly claimed by the US and South Korea that there are around 5000 cyber specialists appointed by the government for conducting cyber-attack, cryptojacking, and other fund-raising programs aimed at acquiring nuclear power and weapons of mass destruction.

Russia may Use a Gold-Backed Crypto for Future Settlements

Elvira Nabiullina, governor of the central bank of Russia, came up with that information while speaking to the parliament, the Duma, regarding current plans with cross-border finance. In response to a question from a parliament member who also represents Duma’s financial markets committee, Nabiullina said that the Bank of Russia is not against the development of a gold-pegged cryptocurrency. However, she confirmed that the use of cryptocurrency would be within the scope of cross-border settlements and crypto would not take the upper hand in relation to fiat currency. She added - “As far as settlements are concerned, we will consider your suggestion regarding what a cryptocurrency backed by gold would look like,” Nabiullina stressed the importance of using national currencies for international settlements. At a meeting of the State Duma, she referred to successful use of national currencies in settlements under the framework of the Eurasian Economic Union (EAEU), where significant development was achieved with the strategy. The bank of Russia recently released a policy brief pointing at the benefits and pitfalls of central bank digital currencies (CBDCs). The bank believes that CBDCs could boost the national economy by reducing transaction costs and being a safer and more liquid type of asset. The only drawback of CBDCs is the lack of anonymity as compared to fiat currencies. What is going on inside An advisor to the president of Russia expressed similar opinion and suggested that introducing a CBDC in Crimea might get more investors in the region while bypassing sanctions. Cointelegraph recently published positive news that Russia and Venezuela are trying to reach an agreement on closing trade settlements using both Ruble and the Venezuelan state-owned digital currency, petro (PTR). In reality, although the governor’s statement carries great importance as she represents one of the world’s largest central banks, most of the high-ranked staffs of the bank are still sceptical towards cryptos, and therefore Duma’s digital currency plan is unlikely to see the faces of light any time soon. An administrator was quite straightforward regarding this matter - “We are generally opposed to cryptocurrencies being launched into our monetary system. We do not see the possibility that cryptocurrencies could act as monetary surrogates.” To put it simply, the Bank of Russia is just carrying out its constitutional duties in studying the Duma’s token plan. But it is almost impossible to deny that the latest crypto related events in the lower house of Russia mark a milestone as those involved a central bank officially going through the motions of the development of a national cryptocurrency - one of the very few instances in the crypto economy's emerging history till date. Possibility of crypto for a bloc A recent buzz of developing standard crypto for the Eurasian Economic Union bloc also sounded in Russia. The deputy finance minister of Russia, Alexey Moiseyev, revealed in December 2018 that the country, along with the EEU’s four other member states -Armenia, Belarus, Kazakhstan, and Kyrgyzstan, had agreed to discuss the development of crypto for the economic zone. The minister’s attitude was firm, and he called the project ‘inevitable’. If everything works as planned, the crypto could be launched in 2020 or 2021. The initiative is being thought as part of Russia’s response to the economic sanctions imposed by America in recent years. The main objective of crypto development in the EEU is to achieve further financial independence and bypass dollar in their trade activities. For the time being, there has been no clear information on how the crypto will be developed like on what blockchain wand with what attributes.

Institutional Interest in Cryptoassets is on the Rise

A lot of financial institutions are sensing a bright future of crypto assets and shifting their focus on those gradually. A high ranked official from TD Ameritrade stated in the Consensus 2019 conference that institutional interest in crypto assets has increased significantly. TD Ameritrade, a brokerage firm that operates one of the biggest online tradings views the unaltered trading mindset of the investors despite recent fluctuations in the cryptocurrency price as a positive sign for the digital asset market. The firm also believes that anyone who wants to start a crypto business can get a lot of clients. The belief is established on the fact that the firm received numerous calls, emails, and more than 60,000 clients traded something in their platform. In contrast to the previous concept that crypto business mainly attracts millennials, nowadays older and established retail investors are seeking business opportunities in digital tokens. This is clear evidence that institutions are progressively entering the cryptocurrency market. In addition, the number of participants in cryptocurrency-related events hosted by TD Ameritrade in the recent past was beyond the expectation. If a company with over $37 billion assets reveals that the investment advisors are showing more interest in crypto related contracts, what can be more assuring for crypto investors? Effects of growing institutional interest in crypto Actions taken by mainstream crypto related firms due to the growing institutional interest in digital assets are quite apparent. The largest crypto exchange firm of the USA, Coinbase, is switching its focus to serve the needs of an increasing number of institutional investors. The company stated this intention after some changes in the recent past. It has been circulated that Coinbase has filed to terminate its Political Action Committee (PAC) with the American Federal Election Commission (FEC). The filing was probably pre-planned because there is no transaction history in the balance sheet of PAC in 2019. FEC regulations require a PAC to file a termination report to close it down and the report must show that the PAC did not receive any funding or make any payments. Soon after the filing, Coinbase confirmed that it had closed its Chicago office in an attempt to reduce its high-frequency trade matching engine. In an interview with a crypto magazine, Coinbase revealed that the company is planning to bring some changes to its business focus. So what is the new business focus? Trimming down high-frequency trading might indicate the introduction of new product offerings. Coinbase official confessed that the company is putting an effort to meet the needs of the institutions that are potential candidates for crypto business. Coinbase director of communications Elliott Suthers stated that institutional customers are imparting a lot of growth for them. The wide range of institutions that they serve includes asset issuers, pension funds, and university endowments, to name a few. Suthers added that the company is trying to build features and services that are high in demand and able to serve all types of customers. The flourishing business of Coinbase is reflected by the colossal amount of customer assets in custody business which is currently worth more than $700 million. The recent negative trend in crypto market could not discourage institutions NewsBTC reported that although the crypto market experienced some negative trends in the recent past, the real scenario is that more and more institutions are making their bets on cryptocurrency technology. One such event that confused some investors was the announcement of the Chicago Board Options Exchange (CBOE) that it might terminate crypto futures contracts due to lack of interest. However, the market saw a totally opposite picture, as evidenced by the new investment of $850 million into this sphere since the beginning of 2019. Another good example includes the Liquid exchange, which noticed its value increased to $1 billion after the completion of a Series C funding round. Bakkt also recently collected $182 million from 12 investors. Although there are some barriers to crypto business including regulatory uncertainty, lack of trust among users etc; firms involved in crypto development are putting constant effort to resolve those. 

The Chinese government is planning absolutely crypto-based tourist city

Cryptocurrencies are making an ever-increasing presence in e-commerce and the global economy. There are several developed cities in the world that have crypto-friendly business environment. San Francisco, for instance, can be considered the topmost city in crypto turn over. It has about 60 crypto ATMs and more than 100 retailers that accept crypto. Several cryptocurrency and blockchain companies including Coinbase are based in San Francisco. New York City also has a favorable condition for cryptocurrency transactions. It has over 100 retailers that accept Bitcoin and there are around 150 crypto ATMs in the city. Zug, Toronto, Jacksonville, Buenos Aires, Singapore, Amsterdam, and Hong Kong are among other cities in the world that crypto lovers will find a great taste. But what about a city where the economy is absolutely crypto-based? Although sounds insane; Chine government is planning this kind of creation. Governments are giving emphasis on blockchain to boost tourism in cities. Malacca city, the capital of the Malaysian state Malacca, has already gained popularity for crypto businesses. Now the Chinese government is planning to turn 835 acres off the shores of Malacca into a city built with crypto technology- the Melaka Straits City. If the plan works out properly, it would be the world’s first ever cryptocurrency-based city. What to expect in the crypto city Blockchain technology will be used to build the city’s infrastructure and a new coin reportedly known as DMI coin will be created to make transactions on the DMI platform. There will also be an exchange where people can convert their fiat into DMI tokens. The project will be implemented jointly by SWT International Sdn Bhd, an investment network, and China Wuyi, a construction and engineering firm. According to Lim Keng Kai, the project’s CEO, the company has already got the government approval to remediate the land and is planning to use leading-edge blockchain technologies to make the city a tourist hotspot. In the initial phase, around $120 million will be spent and subsequent expenditure will depend on the business demand. The main construction area will be about 365 acres of reclaimed and an additional 200 acres will be reserved for water recreation systems and chalets. A reputed financial portal FX Empire reported in a post that the developers want to make the city a leading tourist attraction in Malaysia. Melaka Straits City is expected to attract 3 million tourists every year that will be accommodated by 100 villas and 5 boutique hotels. A conference centre that can handle 20,000 visitors will meet the need of corporate firms for annual events. Also, tourists who are fond of aquatic recreations will find a water theme park that the project CEO claims to be the largest in Southeast Asia. A variety of other recreational facilities including tennis courts, golf courses, concert halls, and cycling will be available for people of different ages and mindsets. Educational institutions are also proposed for local settlers. Above all, making the city cryptocurrency-based is the ultimate priority. The technological innovations will be integrated with existing infrastructure to make the city a smart one. Safety and security management will also remain in the focus of the developers. To buy products or services, visitors will have to turn their fiat money into crypto. Retailers and service points will have a special QR code that the tourists can scan for payments. Keng Kai claimed that this kind of mobile banking will add speed to the economy because each transaction can occur in a matter of seconds. The transaction data will be stored in the DMI blockchain from where any issues that might arise can be solved. More cities are experimenting with crypto-based economy Malacca city is not the only city to bet on crypto to boost its economy. Liberstad, a Norwegian city, is experimenting with its own virtual currency known as “City Coin”. It is now usable only within the city for the purchase of daily needs. Dubai, the most luxurious city in the world is also planning to adopt crypto widely. The government of the UAE is aiming to make more than 50% transactions blockchain based by 2021. A technological modernization project, known as “Smart Dubai” has prompted this extensive adoption of blockchain technology.

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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.

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.

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.

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.  The concept of decentralisation stands in contrast with the everyday traditional financial services that are generally centralised, meaning controlled by a single entity such as a central bank or financial institution which also gives them total control over their users money. As said, DeFi applications do not require intermediaries or arbitrators, it’s sometimes referred to as ‘open finance’. From lending and borrowing platforms. to stablecoins and tokenized Bitcoins, the DeFi ecosystem has launched an expansive network of integrated protocols and financial instruments. The code of DeFi specifies the resolution of every possible dispute, and the users maintain control over their funds at all times. This reduces the costs associated with providing and using DeFi products and allows for a frictionless financial system. With over $15 billion worth of value locked in smart contracts, decentralised finance has emerged as the most active sector in the blockchain space today, with a wide range of use cases for individuals, developers, and institutions. What are the primary features of a DeFi?  First of all the system foundation of DeFi blockchains are permissionless funds, which allow anyone to access the application on a DeFi protocol and trade over the network without requiring anyone to sanction it. Secondly, the features are open source and transparent. The coding on a DeFi system is open source so the code is visible to every user, allowing everyone on the network to audit and verify the security and functions. This transparency of the network doesn't tamper with the user's privacy either, since all users are identified by their digital signatures. Additionally, open-source coding ensures DeFi's credibility. Another important component is interoperability. DeFi is easily compatible with the integrations of other applications. It, therefore, has the scope to expand further, offering new financial services and even developing new financial marketplaces. Also, accessibility. Anyone with a computer or a smartphone and a decent internet connection from any corner of the world can join a DeFi network. This feature, in particular, gives decentralised financial systems the upper hand over traditional banking systems. Especially for communities which cannot avail of essential banking services due to geological issues. The driving idea behind cryptocurrencies has always been the intent to decentralize power and improve our current financial system to become more transparent and less vulnerable to fraud.  DeFi is nothing but a step further in that direction. The real strength of DeFi lies in taking the current system, that on a large scale depends on human processes which also includes bureaucracy and a lot of paperwork, and automating it while at the same time cutting costs and improving transparency. Decentralised Exchange aka DEX As you may have figured out, DeFi is a very wide term, so let's cover some of the most popular use cases within it. A decentralised exchange (DEX) for example, is a cryptocurrency exchange which operates without a central authority. Decentralised exchanges allow peer-to-peer trading of cryptocurrencies and do not expect the user to transfer their assets to the exchange. DEX therefore also reduces the risk of theft which might occur from exchange hacks.  The most obvious benefit to using a decentralised exchange over a centralised one is their trustless nature. You are not required to trust the security or honesty of the exchange, since the funds are held by you in your personal wallet, and not by a third party. Another advantage to the decentralised model is the privacy it provides. Users are not required to disclose their personal details to anyone, except if the exchange method involves bank transfers. In that case, your identity is revealed only to the person that is selling or buying from you. The downside of DEX is that they're generally more difficult to use, especially for beginners, as they tend to have relatively complicated ways of depositing to the smart contract. For example, wrapping Ethereum or Bitcoin. Also, the possibility to exchange fiduciary to crypto is very, very rare as DEXs usually only exchange cryptocurrencies. Stablecoins Another case worth mentioning is stablecoins. Stablecoins are essentially cryptocurrencies that have their value tethered to the value of another cryptocurrency, a physical currency like the U.S. dollar, the price of a valuable physical asset like gold, or some other exchange-traded commodity. The primary goal of stablecoins is to reduce the risks associated with the price fluctuations of a regular cryptocurrency and to offer price stability. Currently, most stablecoins exist as tokens on the Ethereum blockchain across the DeFi space and are used for payments on DEXs or for lending and borrowing purposes. Some most popular stablecoins that you may have heard of are USDT, USDC and DAI. Decentralised lending protocols and yield farming All the major decentralised protocols are based on Ethereum, meaning that one could lend or borrow any ERC-20 token. Peer-to-peer lending and borrowing platforms are one of the most extensively used applications of the decentralised finance system. DeFi lending platforms give out loans to individual borrowers or organizations in a trustless way that requires no third-party interference. This allows lenders to earn interest in the form of crypto coins on the funds they deposit.  DeFi lending platforms are easily accessible to both lenders and borrowers, which is one of the advantages DeFi lending platforms offer over traditional lending procedures. Secondly, it’s the instant fund settlements through smart contracts. On DeFi platforms the transparency of the fund flow is much higher. Therefore risks are reduced and the whole lending process is more flexible.  Compound is a good example of a DeFi lending and borrowing protocol. Compound is an algorithmic autonomous interest rate protocol, that by providing interest rate markets on Ethereum, allows lenders to earn interest on the assets they have deposited in the Compound lending pool. The Compound smart contract is coded to match borrowers and lenders and calculate the interest rate for every specific situation. AAVE, Compound and Maker are the major lending protocols with billions of dollars of value locked up in their smart contracts and they all have a simple concept. You can loan out cryptocurrency tokens or borrow them and as mentioned above, they are all non-custodial, meaning that the protocol's creators do not have control over your holdings. Yield farming, also known as liquidity mining is one of the most recent DeFi use cases. This is the practice of locking up digital assets in return for rewards, which are usually automatically delivered by a smart contract. In many cases yield farming projects will require that one stakes liquidity provider tokens that are received after providing liquidity, in terms of assets at certain decentralised exchanges, for example, Uniserve. These tokens are then used to mint a new type of token that can either be sold or used. Yield farms are generally considered high risk, high reward since locked assets can be lost if there is a backdoor or loophole in the farm's smart contract.  Before you leave! Having a look at the numbers in the DeFi world which go up to billions, it’s definitely something worth taking a closer look at. It’s an interesting time to be alive and witness all these changes taking place right under our eyes. So let's continue the work towards the goals of crypto usability and adoption.  Before you leave, however, we’d like to remind you to listen to the DTD video, too. It covers many more DeFi related topics such as the flaws in the use of token assets, peer-to-peer protocols, token markets, minting schedules etc. A lot of interesting and useful information if you’re just as excited about DeFi as we are! You can find it here: https://bit.ly/3xfZQcS

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. When Bitcoin hit the scene in the early 2010’s it revolutionised everything. It was now possible to make a transaction to anyone, anywhere in the world, within a maximum of 30-40 minutes and for a fee of around 1%. It changed everything, literally.  Over the past decade, our thirst for speed in every aspect of our lives has increased exponentially. Yet Bitcoin and other blockchain-based cryptocurrencies have gone the other way and are actually getting slower and more expensive. How has this happened, and are there any solutions? In this week’s article, we will go through some of the most pressing issues facing blockchain cryptocurrencies such as Bitcoin and Ethereum, and how Dagcoin solves these… Why are Blockchain-based Cryptocurrencies Getting Slower? It is fair to say that in the past year, the interest in cryptocurrencies has gone through the roof. With Bitcoin rising from its lows of around $4000 at the beginning of the pandemic,  to just under $60,000 (at the time of writing). But with this increasing popularity comes a big problem for blockchain-based cryptocurrencies. They are painfully slow at processing transactions. To put this into perspective, VISA process over 1700 transactions per second, whereas Bitcoin can handle just 4.5. Ethereum doesn’t fair much better at around 8.  All of this means that the more transactions that are placed on these blockchains, the slower they will become. This is why the average time for an Ethereum transaction has risen from 15-30 seconds on its release in 2015 to more than 5 minutes today. With the growing popularity of Tether, DApps, smart contracts and online gaming, and other processes on the Ethereum blockchain playing a big role in that slowdown. In Ethereum’s case, this is why there is growing pressure to make fundamental changes to the currency to make it quicker. With it possible that Ethereum may drop the mining form of payment confirmation altogether for something quicker.  It is this increasing slowdown that some fear may curb the rising price of Ethereum, although it is believed this will have less of an effect on the price of Bitcoin. However, where Bitcoin is encountering more serious issues is in the soaring fees attached to transactions, with the average transaction fee rising from around 50 US cents in April last year to more than $20 today.  The Banks are Catching Up Another big issue for blockchain-based cryptocurrencies such as Bitcoin and Ethereum is the fact that the banks haven’t just sat back and watched over the past decade, they have been working hard to cut transaction times and costs for their customers.  Within the European Union, for example, SEPA (the Single Euro Payments Area) was established in 2014, with the aim to lower costs and the time to complete a transaction within the block from three business days to less than one. Fast-forward to today, and not only are almost all SEPA payments received within 24 hours, but many are also being received as quickly as within 30 seconds. Making the traditional banking system in the EU often faster than a blockchain transaction. We spoke earlier about how the average fee of a Bitcoin transaction is on the rise (the same can be said for Ethereum, too) and now rests at more than $20. The opposite is true for the banks. In SEPA, an international transfer now costs the same as a domestic one (which is usually free). However, some banks may charge a small fee to make a transaction.  All of this means that the conventional banking system (at least in developed parts of the world) is fast catching up or has superseded blockchain cryptocurrencies in terms of both speed and cost. Another reason why there is growing pressure to reform Ethereum to cut the costs and time associated with mining.   Dagcoin - A Faster and Cheaper Solution What slows down blockchain-based cryptocurrencies the most and drives up fees is the payment confirmation process (mining). Not to mention the huge amounts of energy this process takes up. Recent estimates show that Bitcoin mining uses more electricity than the whole of Argentina – a country with nearly 50 million people.  This is why DAG-chain based currencies such as Dagcoin payments are processed through a centralised network, which removes the need for confirmation and mining entirely. This means that Dagcoin payments are processed within 10-30 seconds. Making it possible to make a payment in a store with Dagcoin as quickly and easily as using a debit or credit card, something not possible with a blockchain cryptocurrency. Without the need to pay miners for payment confirmations, this also makes Dagcoin a much cheaper alternative as well. In fact, it doesn’t matter if you are sending 20 or 20,000 dags, the transaction fee will still be around 0.0005 dags. To put that into perspective, based on Dagcoin’s current price of 73 euro cents, this is less than one cent per transaction.  Whereas blockchain-based currencies like Bitcoin and Ethereum are hardwired to continue getting slower over time. DAG-chain technology means that payments will only get faster and faster, the more people use them. And, with no miners, they use a fraction of the electricity – helping to combat climate change too.  Conclusion  Blockchain-based cryptocurrencies such as Bitcoin and Ethereum have a big problem, they are getting slower and more expensive over time. To put this into perspective, VISA process 1700 transaction per second. Bitcoin can handle 4.5 and Ethereum around 8 in the same timeframe. All of this means that the more people use these currencies, the slower they will become. This is why Ethereum transactions have gone from 15-30 second when it was released in 2015 to more than 5 minutes on average today. And with it only set to get slower over time, many in the Ethereum community are even pressuring for mining based payment confirmations to be dropped altogether.   This has been made worse by the banks, which have got much faster and cheaper in the past decade. In the EU’s SEPA region, for instance, international payments can be received as quickly as 30 seconds and for the same fees as a domestic payment (often free).  Dagcoin solves both of these issues because not only do transactions take just 10-30 seconds to be processed. The bigger the community gets, and the more people make transactions, the faster it will get. Add the fact that a Dagcoin transaction costs less than 1 euro cent no matter how much you spend, and you have a cryptocurrency that is a cheaper and quicker alternative to both blockchain-based cryptocurrencies and the traditional banking system.  Join a growing community of almost 600,000 people using Dagcoin. 

Verify Once – Preventing Fraud for Individuals and Businesses using Dagcoin

It is almost certain that you have been asked to verify your identity when signing up for or using services online (particularly financial products and services). The reason companies ask you to verify your identity by providing a copy of your passport, ID card or driver’s license is to meet Know Your Customer (KYC) and Anti Money Laundering (AML) laws put in place by countries all over the world. But why are governments introducing these laws, and why are some companies doing this, even when no such laws exist in their country? The answer is simple, fraud! In the US alone, 14.4 million people were victims of identity theft in 2019. That is a staggering one person in every 15. In total, more than 33% of Americans have experienced identity theft at some point in their lives.  Identity theft and fraud don’t just affect individuals. It is also costly for businesses too, with around 5% of all business revenue globally believed to be lost to fraud each year.  That is over $5 trillion dollars a year. To put that into perspective, this amount is higher than the GDP of every country in the world except the USA and China.  It is, therefore, no wonder that countries around the world have, are in the process of, or thinking about introducing KYC and AML laws. And why Dagcoin created Verify Once.  In this article, we will explain the costs of online fraud on both individuals and businesses and how using Verify Once can reduce that risk for all those using Dagcoin… For Businesses In 2020, the average number of fraud attempts on e-commerce merchants in the US was 344 per month. Of those, only around 34% were prevented. Meaning that almost two-thirds of all fraud attacks on online merchants were successful last year. And when you add that attacks were up almost 25% in 2019, online fraud is not just incredibly costly for businesses, it is also worryingly on the rise. It isn’t just eCommerce merchants who are at high risk in this way either, banks and other financial service providers, online gaming companies, and social media companies are too.  Businesses large and small are also at risk of criminals using them and/or their products or services as a way to launder money. In 2019, Danske Bank (one of the largest banks in Europe) closed all personal accounts for clients in Estonia as a result of a money-laundering investigation, which may have played a role in the suicide of the bank’s CEO in the country. Therefore, whatever kind of company you have, Know Your Customer (KYC) and Anti Money Laundering (AML) laws provide an excellent base for businesses to work from to combat these attacks. And, it isn’t just about employing a specialist or consultant to set up these new processes for your business and to sporadically update them according to changes in the law. This very often means employing specialised AML and fraud staff to constantly monitor and verify customer accounts.  For companies who do this well, there are big rewards. For example, if you are able to verify new customer accounts quickly, you are more likely to gain and keep new clients. Likewise, good monitoring will reduce the fraudulent use of your business greatly, saving you potentially a lot of money. The harder your processes are to break, the more likely criminals will target other companies who are less prepared than yourself. Giving extra impetus to put secure KYC and AML procedures in place at your business. Verify Once processes and verifies all of your Dagcoin customers, so you don’t have to. While at the same time, meeting all KYC and AML regulations. Saving you both time and money. It does this by using state-of-the-art technology, which is not only fast but also secure. Its integrated AI means that as the criminals adapt and improve, so will Verify Once.  To learn more about Verify Once or sign up, click here or email support@verfyonce.com.  For Individuals We know that it can be pretty annoying to verify your identity with each new company online that you wish to use. Taking a picture of your ID card, driving license or passport, submitting this and then waiting for a number of hours or even days until you are able to properly use the account, make a deposit or withdrawal. This can be especially frustrating if you desperately need to use the service and do not have time to wait.  With Verify Once, you only need to verify your identity once, you can then use any company in the Dagcoin ecosystem that accepts Verify Once without having to go through the verification process again. Pretty great, right? It gets even better, getting verified with Verify Once is much easier and quicker than any verification process you have probably ever used because it takes just a couple of minutes. All you have to do is enter your personal details, upload a copy of a valid identity document, such as an ID card, driving license or passport (we accept documents from 194 countries), and a proof of address - and you will receive an answer in just 60 seconds.  Once your documents have been verified, they will be linked to your password-protected account with Verify Once – making identity theft much harder. Within this account, you will not just be able to see your personal details and documents, but also all the companies/websites that you have verified accounts with, as well as the possibility to use others whose products or services you wish to buy.  Verify Once, and never have to do it again, click here. Conclusion Fraud isn’t just incredibly costly for individuals and businesses in terms of the money lost. It is also costly in terms of the time it takes to recover from being a victim of fraud and the mental stress that it causes. This is why countries around the world have or are working hard to introduce Anti Money Laundering and Know Your Customer regulations.  Despite the fact that businesses are asking their clients to verify their identity for all the right reasons (to protect you and them from being a victim of fraud, and to meet KYC and AML regulations). The verification process is costly in both time and money for businesses, and frustrating for clients having to go through the process again and again for each new company whose services they want to use.  Verify Once solves both of these issues. For companies, Verify Once handles the verification of clients and all of the KYC and AML regulations regarding this, saving both time and money. And for individuals, Verify Once provides exactly that, the opportunity to verify their identity just once in the Dagcoin ecosystem, and to do that in just a couple of minutes. Saving untold time in verifying their identity with each new company whose services they want to use.  To learn more about Verify Once or to sign up visit: https://verifyonce.com/ 

WITH CRYPTOCURRENCY YOUR MONEY IS YOURS ALONE

Doing stuff together is great — a necessity even (albeit a slightly difficult one given the current global situation). Cooperation allows us to understand each other better and takes us forward. But there’s one thing that should only be for ourselves. Money. It should always be a party for one. It should always be you who’s the sole owner of your finances. Not banks, and certainly not other institutions. And guess what? Cryptocurrency makes that a reality. Unfortunately, it’s rather common that money has many “owners.” What does it mean? When your funds are stored in a bank (chances are yours is), the bank is a tertiary owner of that money — your money. Some people even go as far as saying that once your money is in the traditional banking or credit card system, you turn over your stewardship of the funds to a third party. As we all know, three’s a crowd. The issue here lies in the fact that the third party, or bank in this case, will have power over your assets. Ouch. But cryptocurrency is different Do you know what makes cryptocurrency better than anything else out there? It’s just so easy. Unless you’ve willingly given access to your crypto wallet over to a third party, it’s you who’s the sole owner of anything within it, including the public encryption keys! If it wasn’t enough that only you, and you alone, can move your cryptocurrency around, it’s also ultra-safe. The future is now It almost sounds silly to say outright, but this finally means that you can own your own money.  The era is cryptocurrency is finally upon us, and very soon we’ll be doing away with the financial institutions that have forced us to relinquish control of our own assets to them for far too long. If you feel like taking control of your own capital, then be sure to grab a Dagwallet of your very own. We can’t wait to have you aboard!

3 Things to Look Out For When Choosing Your Cryptocurrency

So, you’ve decided that it’s time to start utlising an alternative currency, whether it be for investment, or simply for day-to-day payments. It may seem daunting at first. After all, cryptocurrencies are in constant flux —  some might fail, and some might prevail. So, what you should be looking out for when choosing one to invest in? Longevity is key ‘Decentralize Today’ is a blog that brings together experts on tech and digital currency, and although their focus lies in blockchain-type currencies like Bitcoin, it can be a handy insight into the industry as a whole. An article published at the height of Bitcoin’s popularity, titled ‘An Investor’s Guide To Cryptocurrencies: Picking The Winners & Avoiding The Losers’, states that the rule of longevity, which is crucial in more common types of investments, is significant when investing in cryptocurrency as well.  Longevity means taking a long perspective in your investments, and as the article notes, not only in the product itself but those producing it as well. Your investment should be something which will be used long into the future. You should also take care to note any competitors and whether they have the potential to outperform your investment. Finally, there has to be a commitment from the developers that constantly improve on the product or service you’ve invested in. To put it in short, as the article suggests, your cryptocurrency of choice should: Have a current or growing need for it Have few or insignificant threats or competition Have a team that puts great effort into developing it The article thereon outlines several options of cryptocurrency to choose from, which are all based on the blockchain technology. Our suggestion is to take a look at Dag-chain instead. Why choose a Dag-chain cryptocurrency? ‘Dag-chain vs blockchain cryptocurrencies’ is a debate that is only now getting momentum and with good reason – the former aims to improve on the latter, after all. If you take a look at the three characteristics outlined beforehand, the Dag-chain technology can easily be submitted to the rule of longevity. There is a need for it – fast and easy transactions are always in demand and Dag-chain is built with exactly these qualities in mind. Threats are low – DagCoin is currently the primary cryptocurrency based on the new technology and unique among its direct competitors. Development is ongoing – behind the Dag-chain technology is a team of committed developers and source code is open to outside talent as well. In summary, when choosing your cryptocurrency, it can help to see it as picking a worthy investment – longevity means a certain kind of stability and can lead to great profit in the end.

Investors now increasingly preferring crypto to hedge against inflation

According to top-level analysts at Germany’s largest investment bank, Deutschebank, investors are now increasingly choosing to hedge against inflation with Bitcoin rather than gold. This news was broken via Deutsche’s bank own Jim Reid via ZeroHedge, who stated the following - “There seems to be an increasing demand to use bitcoin where gold used to be used to hedge dollar risk, inflation, and other things(...)” This is in part due to bitcoin increasing in value by a whopping 144% this year, whereas gold has seen just a 22% spike over the same period. While not insignificant, when compared with BTC, the winner is clear. According to Reid, another contributing factor has been the breakthrough development of COVID-19 vaccines by pharmaceutical companies Pfizer and Moderna. This sudden development led to the redistribution of money from haven assets such as gold into higher-risk ones. With precious metals slowly becoming less reliable as value assets, it’s fair to assume that cryptocurrencies such as Bitcoin and Dagcoin will see forward momentum in this area, and continue to leak into mainstream usage as a result.