Bitcoins and Factoids: a Symbiotic Relationship
Every time a new altcoin comes out, Bitcoin hoarders often have a knee-jerk reaction: "Who are these upstarts, and what is it going to do to my investment?" Their reaction is understandable. Some new cryptocurrencies present no fundamental innovation, and are clearly the offspring of sour late adopters. Many make an honest effort, bringing non-currency functionality, but questions remain about whether these splinter movements can survive the network effect. The open source movement requires cooperation. Factoids are neither of those. They are the token of access for the Factom network,....
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“I had to change my thought process to understand that bitcoin is no enemy of gold and silver,” says monetary expert Andy Hoffman, who writes for the precious metals website Miles Franklin. “When bitcoin hit price parity with gold in 2013, I was angry. I knew nothing about it. I assumed it was like the Federal Reserve. That, instead of 21 million coins,....
Factom reached a major milestone today, as the Poloniex crypto-currency exchange became the first platform to add a trading pair for Factoids, Factom’s software tokens. It was only a matter of time until one of the digital currency exchanges took the first step towards doing so since Factom’s Beta release. Investors have been eagerly awaiting the addition of Factoids on major cryptocurrency exchanges since the conclusion of the Factom token sale. Factoids trading on crypto-exchanges are likely to generate additional interest in the Factom platform while allowing new community members to....
Starting tomorrow, potential users will be able to start buying Factoids, the currency that powers Factom, from Koinify. Factom is described as "a data layer for the blockchain" that will help businesses manage their data. To gain access to that Factom network, though, requires Factoids, a digital token designed specifically for the Factom network. Starting tomorrow, these new coins will be available for sale. However, they will not be dispersed until May 15th. This is where ShapeShift comes into play. ShapeShift allows for users to instantly convert from one cryptocurrency to the other. A....
People’s Remedy, a growing chain of cannabis stores, has started accepting cryptocurrencies as a payment method, allowing their customers to use them as a fast, easy way of getting their products while taking advantage of the traits cryptocurrencies bring to the table. Unlike other stores, People’s Remedy assumes this symbiotic relationship between cannabis and crypto as a commitment, wanting to build a circular economy by paying its employees with crypto assets. People’s Remedy Starts Accepting Cryptocurrencies as Payment People’s Remedy, a California-based....
Bitcoin presents an opportunity for us to redesign our relationship with money in a way that's conducive to being good citizens.