Category: Money

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Posted in Money, Technology

Telegram As A Cryptocurrency‽

Posted on by Darnell Clayton

Telegram allegedly has bigger plans than becoming a super secure chat program.

The encrypted chat app is rumored to be launching their version of Bitcoin which could rival current cryptocurrency networks.

The popular encrypted messaging app Telegram will launch its own Blockchain platform and cryptocurrency, according to sources familiar with the matter. The new platform will be dubbed either “The Open Network” or “Telegram Open Network” (TON) and is supposed to be based on an improved version of Blockchain technology. […]

Cointelegraph learned that the currency of TON will be called “Gram” and the platform will be natively integrated with many of the most popular messaging apps (it’s not yet certain which ones). The platform will utilize light wallets, making it unnecessary for users to download a large and unwieldy Blockchain. (Cointelegraph)

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Like Bitcoin, Gram could potentially be disruptive to fiat (or real) currencies, especially for residents in repressive nations seeking alternative ways to keep more of their money in their (digital) pockets.

Gram could also help popularize cryptocurrencies (beyond the current tech circles) by allowing users to securely send funds to charities, disaster relief groups, startups in third world nations, women trapped in human trafficking & independent reporters/bloggers without dealing with expensive currency exchanges & intrusive governments.

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Unfortunately, just like Telegram, Gram could potentially be abused & misused by terrorist groups, human traffickers & illicit drug dealers making it harder for authorities to thwart these societal threats (at least financially).

Hopefully Telegram can figure out how to balance the benefits of using a cryptocurrency without empowering evildoers as the world needs a popular alternative to fiat money (especially with America’s deficit surpassing $20 trillion!).

Disclosure: I am an avid fan of Telegram, & you can message me at @Darnell.

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Posted in Afghanistan, Asia, Economy, Money, Trump, USA

Should Donald Trump Strip Mine Afghanistan‽

Posted on by Darnell Clayton

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A long, long time ago in a political world far, far more civil than it is today, candidate Donald Trump suggested that the United States should seize Iraq’s oil in order to help reimburse the war cost for American tax payers.

Truthfully the US of A has little need for Arabian oil as we produce enough here (as well as buy plenty of oil from Canada & Mexico) but another war torn nation may have a resource that America is lacking in abundance. 

In 2010, U.S. officials estimated the value of Afghanistan’s unexploited mineral deposits at $1 trillion. But as the security situation deteriorated significantly, the price of the commodities involved has sunk.
The Afghan government only became open to the possibility of the U.S. exploiting mineral resources after Trump took office. Afghanistan President Ashraf Ghani reportedly talked mining with Trump in one of their first conversations. Ghani supposedly changed his mind because he realized Trump would be “intrigued by the commercial possibilities,” as the Times put it. (Reason Blog)

The demand for lithium in the US will skyrocket as electric car companies like Tesla (who now needs to build 2 or 3 more gigafactories) compete with tech titans like Apple, Samsung, et al, to secure the precious mineral for their lithium batteries.

Dollar wise America has already spent trillions in order to keep the former terrorist haven from being reconquered by the Taliban—and it’s doubtful that trend will end in the near future. 

So the question remains: should Donald Trump allow the United States to strip mine Afghanistan for lithium or should America continue to buy lithium from China‽

Image Credit: Daily Mail

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Posted in Ads, Money, Technology

Dear Verge: Stop Whining About Ad Blockers! (Instead Just Shut Up And Take My Money!)

Posted on by Darnell Clayton

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With the release of iOS 9 to the masses, many publishers (big and small) have been trembling at the popularity of ad blockers.

Cue The Verge:

But taking money and attention away from the web means that the pace of web innovation will slow to a crawl. Innovation tends to follow the money, after all! And asking most small- to medium-sized sites to weather that change without dramatic consequences is utterly foolish. Just look at the number of small sites that have shut down this year: GigaOm. The Dissolve. Casey Johnston wrote a great piece for The Awl about ad blockers, in whichThe Awl’s publisher noted that “seventy-five to eighty-five percent” of the site’s ads could be blocked. What happens to a small company when you take away 75 to 85 percent of its revenue opportunities in the name of user experience? Who’s going to make all that content we love so much, and what will it look like if it only makes money on proprietary platforms?

These are the questions worth asking — and they deserve better answers than simply “they’ll adapt.” Because there’s only one thing that makes adaptation such a powerful force.

Death.

This fear is understandable as most (if not many) publishers make the vast majority of their revenue from advertisers (who are devious enough to slip in unwanted cookies within our browsers while we read first class blogs and popular news sites).

Although I loathe ads in general, the truth of the matter is those annoying interruptions of media entertainment/enlightenment (also known as commercials) help put food on the table for bloggers, journalists, et al, families (not to mention keep the lights on and keep the tax man away).

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However Ad Blockers are not going away, and while hiding content behind a pay wall has kept a few news organizations alive (example: Wall Street Journal, Haaretz, et al), most people will loathe paying for information the same way most music lovers loathe paying for music.

So how to miniature, medium and mega media sites convince users to pay for content they have grown up reading for free?

Enter The Freemium Dragon

Instead of hiding 80% of their content behind a pay wall, sites like the Verge could allow users to pay between $10-$15 USD/month for the privilege of:

  • Commenting upon the web site (which would eliminate 99% of the troll issue)
  • Guaranteed ability to comment upon live social streams such as Periscope (which would require the Verge to follow their clients).
  • Ability to purchase reviewed products at slightly discounted prices (which companies will love as they will be “marketed” towards potential premium customers)
  • NO ADS!!!!
  • Access to a native mobile app (yes, bring back the app but only for those who pay!)
  • Submit “Letters to the Editor” which (at The Verge’s staff discretion) will be published on the main page

To test out whether their reading population is willing to convert from free loading users to premium clients, sites like the Verge could launch a kickstarter-like campaign to see if there is any hope of converting a significant size toward the shut up and take my money side.

After all in an age where media giants pretend to be neutral in a vain attempt to mask their bias, we need openly transparent media (like The Verge, Techcrunch, et al) to thrive and give an honest opinion about how they view the world (even if it is not what we want to hear).

Image Credits: Futurama, Adblock Plus