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Audiobook Launch – The Basics of Bitcoins and Blockchains

Happy news! (and some insights into the mechanics of authoring and publishing a little further down the page) I’ve just been told that the audiobook version of my book “The Basics of Bitcoins and Blockchains” is now available for preorder on Audible. It’s a great use of your Audible credits! If you’re not already on … Continue reading Audiobook Launch – The Basics of Bitcoins and Blockchains

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Happy news! (and some insights into the mechanics of authoring and publishing a little further down the page)

I’ve just been told that the audiobook version of my book “The Basics of Bitcoins and Blockchains” is now available for preorder on Audible. It’s a great use of your Audible credits! If you’re not already on Audible, you get your first listen for free when you sign up. Click it!

This means you can upskill on bitcoin, blockchains, payments, and money when you’re out and about (ha)… Or more likely, when you’re inside, trying not to go insane, and wishing you could be out and about. What a great use of lockdown time!

The e-book is also available in Singapore public libraries so you can get it for free if you use the Libby or OverDrive apps. If you can help with getting it in other countries’ libraries, I’d love to know how this works.

Some insights into authoring

I’ve found the authoring process fascinating. Often people ask, how does it work? How did I get this turned into an audiobook? What was the effort required? How did you get it into the bookshops?

My contract is with my publisher, Mango. This is the one single legal relationship in this whole project. Mango and I signed a deal, I gave them a Word doc, and once a quarter they email me a 1 page pdf sales statement, and pay me royalties – a profit share based on the number of books that they tell me have been sold.

Mango pay a printer to print physical books, they manage physical warehousing and storage, and they deal directly with some online bookstores such as Amazon for e-books. If you’ve seen the book in physical bookstores such as Relay in airports (😍), Kinokuniya on the high street, or the INSEAD campus bookshop, it’s because Mango has a relationship with a large global distributor called Ingram who has relationships with the retail outlets, often via a series of local wholesalers or distributors. Mango, a team of about 20 people, doesn’t have enough staff to maintain bilateral relationships with all the retail outlets.

And the audiobook? I had nothing to do with that. Mango made a business decision to pay for the book to be narrated, and they used Podium Audio to do it.

Podium found the right narrator and paid them to read it out to their satisfaction. In this case, they used Sean Pratt, a highly accomplished fiction & nonfiction narrator. I don’t know if Sean gets a flat fee or is incentivised by royalties. I don’t know the economics between Mango and Podium. I have very little insight into the economics and relationships other than that between me and Mango.

This is the same for book translations. In my agreement with Mango, Mango have global rights to distribute the book (though the book remains my intellectual property). If someone wants to translate the book into a different language, they have to make an offer to Mango to do that, and buy distribution rights from Mango for that particular country. This would typically be done by a local publishing house (ie a Mango in a different country), who would need to pay a translator to translate the book.

Needless to say, with this many people in the chain, I don’t make a lot of money from the book. But it has been a fun learning experience! Anyway, you get to listen to it via Audible or read it for free from the libraries, so please enjoy. And if you’ve read it already, please spread the word! 😍

Source: https://bitsonblocks.net/2020/04/19/audiobook-launch-the-basics-of-bitcoins-and-blockchains/

Blockchain

Ethereum Dropped Below $2K for the First Time in a Month as BTC Slipped to $32K (Market Watch)

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Following a somewhat stagnant weekend in which BTC remained in a range between $35,000 and $36,000, the asset dumped to a two-week low of just over $32,000. Most alternative coins have performed even worse, with ETH plummeting beneath $2,000 for the first time since May.

Altcoins in Red; ETH Below $2K

Altcoins have been gradually declining in value for the past several days. Ethereum has been at the forefront as it traded well above $2,600 less than a week ago.

However, the second-largest digital asset lost several hundred dollars in days, and the past 24 hours only worsened its performance. ETH dumped by more than $300 in a relatively short period to an intraday low of $1,980 (on Bitstamp). Thus, the asset dropped below $2,000 for the first time since May 23rd.

The situation with the rest of the alts is quite similar, and they are all deep in red on a 24-hour scale.

Binance Coin (-4.5%), Cardano (-4.5%), Dogecoin (-8.5%), Ripple (-7%), Polkadot (-10%), Uniswap (-8.5%), Bitcoin Cash (-9%), Litecoin (-8.5%), Solana (-10%), and Chainlink (-5%) have all lost sizeable chunks of value.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

From the lower- and mid-cap alts, Stacks has lost the most after a 17% dump. BakeryToken (-15%), NEM (-14%), SushiSwap (-14%), Qtum (-13%), Amp (-13%), ICP (-13%), and Chiliz (-13%) are a few more reps of the double-digit price decline club.

Ultimately, the cumulative market capitalization of all cryptocurrency assets lost over $120 billion in a day to below $1.4 trillion.

Bitcoin Sees a Two-Week Low

The situation with the primary cryptocurrency is not that different. Despite sliding in value for a few days, BTC had actually recovered some losses during the weekend and stood around $36,000.

The price trajectory changed rapidly following new FUD coming from China. The nation’s third-largest bank banned all of its customers from dealing with digital assets, which impacted the market immediately.

Consequently, BTC fell by more than $2,000 in a few hours and $4,000 on a 24-hour scale. The asset dropped to just over $32,000, which became its lowest price tag in roughly two weeks.

Despite recovering around a thousand dollars since then, bitcoin is still more than 6% down on the day, and its market cap is just over $600 billion. Its market dominance has increased slightly just because the alts have it even worse today.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView
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Source: https://cryptopotato.com/ethereum-dropped-below-2k-for-the-first-time-in-a-month-as-btc-slipped-to-32k-market-watch/

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Blockchain

MicroStrategy Acquires More Bitcoin, Holds More Than 105,000 BTC

MicroStrategy Bitcoin

Rate this post Business analytics firm MicroStrategy has added more Bitcoin to its balance sheet, taking the company’s collective holdings to a whopping 105,085 BTC. According to an announcement from the firm’s CEO Michael J. Saylor, MicroStrategy spent $489 million to add another 13,005 BTC to its treasury. Michael Saylor Announces New Bitcoin Purchase For MicroStrategy Saylor and his company have maintained their belief in Bitcoin’s potential despite the primary crypto’s ongoing price struggles in a volatile market. The company has been pumping the digital asset since last August following the pandemic-induced inflation, which forced investors to seek non-traditional options that safeguard their assets. In its most recent accumulation effort, MicroStrategy snagged 13,005 BTC for an average price of $37, 617 per token. However, the digital asset has declined sharply in the last few days, and one coin is currently trading for $32,500.  As part of its announcement, the firm revealed that its recently formed subsidiary MacroStrategy LLC holds 92,079 BTC of its total balance.  Altogether, the new investment takes MicroStrategy’s combined Bitcoin holdings to a staggering 105,085 coins. At the current spot price, this holding is worth $2.74 billion, with each token amounting to slightly more than $26,000.  MicroStrategy Raised $500M to Procure Its Current BTC Investment Earlier this month it was reported that MicroStrategy was offering senior secured notes due in 2028 to raise half a billion dollars in debt. These notes bore an annual interest rate of 6.125%. The company had originally capped the sale at $400 million, but shortly thereafter it boosted its offer by another $100 million.  Following the sale of its debt offering, the company revealed that it had amassed nearly $489 million, which would be invested in Bitcoin. At the same time, MicroStrategy also announced that it was planning to sell up to $1 billion in stocks and that part of those proceeds would be directed to buying more Bitcoin. Even before its recent purchase, MicroStrategy owned the largest reserve of the flagship crypto among all publicly traded companies. 

The post MicroStrategy Acquires More Bitcoin, Holds More Than 105,000 BTC appeared first on Cryptoknowmics-Crypto News and Media Platform.

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Business analytics firm MicroStrategy has added more Bitcoin to its balance sheet, taking the company’s collective holdings to a whopping 105,085 BTC. According to an announcement from the firm’s CEO Michael J. Saylor, MicroStrategy spent $489 million to add another 13,005 BTC to its treasury.

Michael Saylor Announces New Bitcoin Purchase For MicroStrategy

Saylor and his company have maintained their belief in Bitcoin’s potential despite the primary crypto’s ongoing price struggles in a volatile market. The company has been pumping the digital asset since last August following the pandemic-induced inflation, which forced investors to seek non-traditional options that safeguard their assets.

In its most recent accumulation effort, MicroStrategy snagged 13,005 BTC for an average price of $37, 617 per token. However, the digital asset has declined sharply in the last few days, and one coin is currently trading for $32,500. 

As part of its announcement, the firm revealed that its recently formed subsidiary MacroStrategy LLC holds 92,079 BTC of its total balance. 

Altogether, the new investment takes MicroStrategy’s combined Bitcoin holdings to a staggering 105,085 coins. At the current spot price, this holding is worth $2.74 billion, with each token amounting to slightly more than $26,000. 

MicroStrategy Raised $500M to Procure Its Current BTC Investment

Earlier this month it was reported that MicroStrategy was offering senior secured notes due in 2028 to raise half a billion dollars in debt. These notes bore an annual interest rate of 6.125%. The company had originally capped the sale at $400 million, but shortly thereafter it boosted its offer by another $100 million. 

Following the sale of its debt offering, the company revealed that it had amassed nearly $489 million, which would be invested in Bitcoin. At the same time, MicroStrategy also announced that it was planning to sell up to $1 billion in stocks and that part of those proceeds would be directed to buying more Bitcoin.

Even before its recent purchase, MicroStrategy owned the largest reserve of the flagship crypto among all publicly traded companies. 

READ  MicroStrategy’s Bitcoin Stack Up: Brilliant Moves or Risk?

#Bitcoin #CEO Michael Saylor #MicroStrategy #MicroStrategy BTC Investment

Source: https://www.cryptoknowmics.com/news/microstrategy-acquires-more-bitcoin-holds-more-than-105000-btc/

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Thailand SEC Bans Meme Coins, Fan Tokens, NFTs

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Local exchanges in Thailand had been given a deadline until July 11 to submit their new rules for listing tokens that complies with the new guidelines from the Thailand Securities and Exchange Commission (SEC).

“The Securities and Exchange Commission (SEC) Board has approved the new rules that prohibit digital asset exchanges from providing services in relation to utility tokens and certain types of cryptocurrencies. The rules also specify that the exchanges set a requirement to be imposed in the event that digital tokens issued by their own exchange or related persons are listed on the exchange. In this regard, the token issuer who fails to comply with the white paper and relevant rules in substance could risk having such tokens delisted from the exchange. This new regulatory guideline aims to enhance protection of digital asset traders’ interest.”

The Thai SEC also added that listing rules prohibits local exchanges from providing services that have these following characteristics:

(1) Meme Token – having or no clear objective or substance or underlying, and whose price runs on social media trends.

(2) Fan token: tokenized by the fame of influencers.

(3) Non-Fungible Token (NFT): a digital creation to declare ownership or grant of right in an object or specific right. It is unique and not interchangeable with digital tokens of the same category and type at the equal amount.

(4) Digital tokens which are utilized in blockchain transactions and issued by digital asset exchanges or related persons.

Along with this move is their previous announcement of regulating Decentralize Finance (DeFi) projects in the country, including the issuance of digital tokens.

In the previous announcement, liquidity provider tokens, governance tokens, or tokens issued to those transacting in DeFi projects “must be licensed and must abide by the specified rules”.

The new regulation stipulates crypto exchanges, digital-asset brokerages, digital asset-dealers, private fund managers and investment advisors must be licensed by the Ministry of Finance.

Thai SEC states that, “For traders, it is best to study the DeFi project before getting involved in both technical and security aspects.” They also added that traders “should check whether the service provider is a digital-asset business that is licensed and regulated by the SEC or other regulatory agencies under law.”

This article is published on BitPinas: Thailand SEC Bans Meme Coins, Fan Tokens, NFTs

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Source: https://bitpinas.com/regulation/thailand-sec-ban-meme-tokens/

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