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Piracy Will Cost Billions to the TV and Music Industries

In most of the Western world, piracy is fought on every corner but still to no avail. The TV and Music industries especially, have been the biggest victims

The post Piracy Will Cost Billions to the TV and Music Industries appeared first on CoinStaker | Bitcoin News.

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With the evolution of the Internet, piracy has become increasingly more sophisticated. It’s biggest victims however, are probably music artists and actors.

In the last year’s forecast of Digital TV Research, it’s mentioned that the TV series and film could reach a revenue loss of over $50 billion by 2022. This is all attributed to online piracy and those rough estimations do not include sports, pay-per-view and other forms of media content. The real number would be quite higher.

If we’re looking at the scale of worldwide blockchain adoption, we must come to the consensus that the technology isn’t capable to destroy piracy, at least not yet. It’s important to note that most media content can be easily captured and reused. This means that in the moment most blockchain projects are not going after piracy so much as ad transparency.

A report from CREATe, a UK copyright research body, dives deeper into the psychological aspects of piracy. If we look past the ridiculous over complication of the aspects of Piracy, we can agree that most people do it because they simply cannot afford these products in any way. Some countries have a limited access, but they can share files endlessly with no repercussions.

There is no clear consensus on the subject since many people will likely have their own viewpoint. There is evidence that blockchain technology can be used to start the initiative to combat piracy. It’s a widely shared opinion that piracy would be completely eliminated if the Internet was entirely built on the technology. While that remains a future possibility, there are a few methods involving blockchain, which can be applied today.

Piracy is an opportunity for profit and fame, if a company can manage to combat it

A “surveillance smart contract” technology is currently being developed by Vevue. The blockchain streaming service says that the technology would be able to track the lifespan of all content. Essentially, this would mean that every time a video is copied or recorded in any possible way, the technology would be able to ID the original owner of the system/device on which the content was last displayed.

The tracking isn’t done by blockchain. Tracking and ID’ing the stolen content is quite the difficult task it goes a little above blockchain. The platform will use a very sophisticated computational engine, which is still pending a patent. It will be tasked with content protection but the details on tracking and ID’ing content will be kept a secret.

Another unique approach is taken by a South African company. CustosTech is implementing the Bitcoin blockchain in the fight against piracy. The company has built a technology known as “forensic watermarking.” It’s essentially a reward system, which embeds a monetary reward, in this case Bitcoin. The reward will be connected to the unique serial number encoded into the media files like eBooks, audiobooks, audio and video.

The technology is also known as digital watermarking and has seen the light of day for a few years now. Many companies use this technology today. The watermark is randomly placed in a piece of the media and it’s completely imperceptible. The fact that it’s location is unknown and the way it’s embedded across the entire file makes it incredibly difficult to remove. Another important part to note is that the serial key is completely unaffected by file manipulation such as downscaling, transcoding, recording or any form of alternation. This means that if a file is suspected of piracy, the serial number can be used to determine the file’s legal recipient and thus the origin of the stolen content.

In the near future many such projects will start popping up. The music and TV industry will do well to invest in such innovations because if successful, they could literally save them billions.

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Source: https://www.coinstaker.com/piracy-cost-billions-tv-music-industries/

Blockchain

Millenials Prefer Bitcoin Over Gold, But it it Still Extremely Unequal, Study Finds

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A recent study revealed that Bitcoin and the rest of the cryptocurrencies no longer have the bad reputation that haunted them in the past. In fact, it seems that as the years go by, the preference towards digital tokens is beginning to overtake historically favored assets such as gold and silver.

SimpleMoneyLife —a site focused on personal finance— published a research compiling information from a lot of notable sources —and providing their own insights and findings too. The results are interesting and show that there is still a lot to work on even though the ecosystem has grown a lot.

The research cited a study by deVere Group revealing that 67% of millennials believe Bitcoin is a superior safe-haven asset to gold. This narrative is increasingly gaining traction in the world of cryptocurrencies and traditional finance.

Cryptopotato recently reported that the CEO of Skybridge Capital named Bitcoin as a store of value comparable to gold, with the Bank of Singapore also making a case for this thesis.

Bitcoion vs Gold

SimpleMoneyLife claims that even as a scarce commodity, gold loses out to bitcoin in terms of rarity:

Unlike gold, we know exactly how much Bitcoin is currently in circulation and how much will be in 2050. Bitcoin is better at being scarce than gold.

The study also assures that the Blockchain technology market cap could exceed $40 Billion by 2025. Analysts say that this type of technology could influence how various industries currently do business and develop their activities. Some of the areas that will benefit the most from blockchain technologies are: Supply Chain Management, Secure Elections, Healthcare, Smart Contracts, Keeping Verified Records, Banking, and the Internet of Things (IoT).

Analysts also highlighted that the United States is starting to take a fresh look at blockchain technologies, adding that the country could begin investing close to $4.2 billion on blockchain solutions soon.

The Crypto Twitter community is also very active. SimpleMoneyLife explained that, on average, cryptocurrency enthusiasts send more than 70,000 tweets about Bitcoin every day. They did not share data on activity around other altcoins with a large social media presence such as Chainlink, Ethereum, XRP, Tron, or the new DeFi coins.

The Study Shows an Extremely Unequal Bitcoin Ecosystem

SimpleMoneyLife also highlighted some findings of the inequality of the Bitcoin ecosystem. As much as algorithmically Bitcoin has no preferences, socially, it does.

First, the Bitcoin ecosystem is male-dominated. The compilation notes that UBS says 85.77% of Males are Engaged in the Bitcoin Community Compared to 14.23% of Females.

Want to rdig deeper into the stereotypes? Bitcoin appears to be 80% dominated by white males. Hispanics and black respondents follow with 66% and 61%,  of the rest respectively.

In terms of mining, China controls 65% of the network’s total power. Simultaneously, the rest is distributed around the world, with the United States far behind in first place with a mere 7.24% of mining power.

And in terms of wealth distribution, Bitcoin is extremely unequal, with just 2% of wallets controlling more than 95% of total Bitcoin wealth and the next 100 wallets dominating 13% of the remaining total.

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Source: https://cryptopotato.com/millenials-prefer-bitcoin-over-gold-study-simplemoneylife/

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Blockchain

TA: Ethereum Trims Gains, Why ETH Could Find Strong Support Near $1,275

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Ethereum started a downside correction after trading to a new all-time high at $1,480 against the US Dollar. ETH price is currently approaching the $1,300 and $1,275 support levels.

  • Ethereum started a fresh downside correction from the $1,480 resistance zone.
  • The price is down around 10%, and it is trading close to the 100 hourly simple moving average.
  • There was a break below a major bullish trend line with support near $1,385 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair is likely to find a strong buying interest near the $1,275 and $1,280 support levels.

Ethereum Price is Approaching a Major Support

After a strong increase above $1,400, Ethereum failed to test the $1,500 resistance zone. A new all-time high was formed near $1,480 before the price started a fresh decline.

There was a clear break below the $1,400 and $1,380 support levels. More importantly, there was a break below a major bullish trend line with support near $1,385 on the hourly chart of ETH/USD. The pair broke the $1,350 support level to move into a short-term bearish zone.

A low is formed near $1,292 and ether is currently attempting a fresh increase. It broke the 23.6% Fib retracement level of the recent decline from the $1,478 swing high to $1,292 low.

Ethereum Price

Source: ETHUSD on TradingView.com

On the upside, there is a major resistance forming near the $1,365 level. It is close to the 50% Fib retracement level of the recent decline from the $1,478 swing high to $1,292 low. There is also a connecting bearish trend line forming with resistance near $1,385.

Ether price is approaching a couple of important supports near $1,300 and $1,285. The main support is forming near the $1,275 level, below which there is a risk of a larger decline in the coming sessions.

Dips Supported in ETH?

Ethereum is currently down around 10%, and it is trading close to the 100 hourly simple moving average. To start a fresh increase, it must gain bullish momentum above the $1,365 and $1,385 resistance levels.

A successful close above the trend line resistance and $1,385 could set the pace for a fresh increase. The next major resistance is near the $1,450 and $1,480 levels.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is slowly losing pace in the bearish zone.

Hourly RSIThe RSI for ETH/USD is currently well below the 50 level.

Major Support Level – $1,275

Major Resistance Level – $1,380

Source: https://www.newsbtc.com/analysis/eth/ethereum-eth-could-find-strong-support-near-1275/

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Blockchain

Kraken Daily Market Report for January 25 2021

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Overview


  • Total spot trading volume at $1.6 billion, close to the 30-day average of $1.65 billion.
  • Total futures notional at $612.2 million.
  • The top 5 traded coins were, respectively, Bitcoin, Ethereum, Tether, Polkadot, and Chainlink.
  • While most coins were down, strong returns from Keep (+9.0%) and Icon (+7.2%).

January 25, 2021 
 $1603.8M traded across all markets today
 Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD 
XBT 
$32302. 
↑0.07% 
$653.4M
ETH 
$1320.8 
↓5.2% 
$642.8M
USDT 
$1.0000 
↓0.1% 
$149.4M
DOT 
$17.241 
↓4.2% 
$54.6M
LINK 
$23.501 
↓5.4% 
$38.6M
USDC 
$0.9999 
↑0.0% 
$27.8M
ADA 
$0.3436 
↓3.0% 
$21.2M
LTC 
$137.24 
↓2.7% 
$17.4M
XRP 
$0.2678 
↓2.1% 
$14.4M
UNI 
$11.352 
↓5.6% 
$10.4M
BCH 
$433.22 
↓1.5% 
$9.21M
AAVE 
$249.26 
↓6.7% 
$8.07M
XTZ 
$2.9227 
↓4.0% 
$5.88M
XLM 
$0.2614 
↓3.7% 
$5.26M
SNX 
$15.519 
↓12% 
$4.88M
ALGO 
$0.5579 
↓0.9% 
$4.48M
XMR 
$137.44 
↓0.5% 
$4.18M
CRV 
$2.0099 
↓11% 
$3.4M
ICX 
$0.8134 
↑7.2% 
$3.17M
TRX 
$0.0295 
↓1.6% 
$3.07M
YFI 
$29369. 
↓8.9% 
$2.95M
DAI 
$1.0001 
↓0.18% 
$2.9M
GRT 
$0.5304 
↓4.5% 
$2.85M
FIL 
$22.429 
↓1.2% 
$2.51M
ZEC 
$88.030 
↓2.3% 
$2.32M
KSM 
$99.319 
↓4.5% 
$2.24M
COMP 
$213.27 
↓15% 
$2.2M
ATOM 
$7.7592 
↓6.0% 
$2.11M
EOS 
$2.6516 
↓2.4% 
$2.03M
WAVES 
$6.7022 
↓4.3% 
$1.72M
NANO 
$3.1847 
↓5.7% 
$1.65M
BAT 
$0.3018 
↓5.4% 
$1.6M
OMG 
$3.5432 
↓1.3% 
$1.54M
DASH 
$105.09 
↓1.1% 
$1.54M
KAVA 
$2.3747 
↓8.2% 
$1.39M
KEEP 
$0.3268 
↑9.0% 
$1.28M
QTUM 
$3.2947 
↓7.4% 
$1.26M
OXT 
$0.2944 
↓0.27% 
$1.21M
MANA 
$0.1633 
↓4.9% 
$999K
ETC 
$7.4950 
↓2.1% 
$810K
XDG 
$0.0083 
↓4.3% 
$647K
SC 
$0.0045 
↓3.1% 
$527K
KNC 
$1.3233 
↓4.4% 
$516K
MLN 
$38.473 
↓3.3% 
$463K
GNO 
$115.57 
↓4.3% 
$450K
BAL 
$21.029 
↓8.8% 
$405K
LSK 
$1.3277 
↓2.2% 
$306K
PAXG 
$1863.2 
↓0.16% 
$284K
REP 
$20.570 
↓4.0% 
$247K
ANT 
$3.8759 
↓9.7% 
$231K
STORJ 
$0.3888 
↓5.5% 
$117K
REPV2 
$19.286 
↓2.4% 
$48.1K
TBTC 
$34102. 
↑1.9% 
$46.9K



#####################. Trading Volume by Asset. ##########################################

Trading Volume by Asset


The figures below break down the trading volume of the largest, mid-size, and smallest assets. Cryptos are in purple, fiats are in blue. For each asset, the chart contains the daily trading volume in USD, and the percentage of the total trading volume. The percentages for fiats and cryptos are treated separately, so that they both add up to 100%.

Figure 1: Largest trading assets: trading volume (measured in USD) and its percentage of the total trading volume (January 25 2021)



Figure 2: Mid-size trading assets: (measured in USD) (January 25 2021)



Figure 3: Smallest trading assets: (measured in USD) (January 25 2021)



#####################. Spread %. ##########################################

Spread %


Spread percentage is the width of the bid/ask spread divided by the bid/ask midpoint. The values are generated by taking the median spread percentage over each minute, then the average of the medians over the day.

Figure 4: Average spread % by pair (January 25 2021)



.


#########. Returns and Volume ############################################

Returns and Volume


Figure 5: Returns of the four highest volume pairs (January 25 2021)


Figure 6: Volume of the major currencies and an average line that fits the data to a sinusoidal curve to show the daily volume highs and lows (January 25 2021)



###########. Daily Returns. #################################################

Daily Returns %


Figure 7: Returns over USD and XBT. Relative volume and return size is indicated by the size of the font. (January 25 2021)



###########. Disclaimer #################################################

The values generated in this report are from public market data distributed from Kraken WebSockets api. The total volumes and returns are calculated over the reporting day using UTC time.

Source: https://blog.kraken.com/post/7576/kraken-daily-market-report-for-january-25-2021/

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