Bitcoin – Reason.com

Are G. Andrew Stone and Roger Ver actually against fungibility in BTC?

Bitcoin's awaited privacy upgrade requires Schnorr signatures, which cannot be implemented into bitcoin without SegWit.
More about Schnorr sigs for fungibility via Bitcoin Magazine:
With the impending release of Segregated Witness, implementation of the Schnorr cryptographic signature algorithm might follow soon after, potentially improving Bitcoin's scalability, efficiency and privacy, all in one go.
Many cryptographers consider Schnorr signatures the best in the field, as they offer a strong level of correctness, do not suffer from malleability, are relatively fast to verify, and ‒ importantly ‒ support multisignature: several signatures can be aggregated into a single, new signature.
However, until now it has not been possible to utilize Schnorr in Bitcoin. Another type of signature scheme, Elliptic Curve Digital Signature Algorithm (ECDSA), is baked into the Bitcoin protocol, and changing that would require a hard fork.
That's where Segregated Witness comes in.
With Segregated Witness, all signature data is moved to a separate part of the transaction: the witness, which is not embedded in the “old” Bitcoin protocol. And thanks to script versioning, almost any rule applied in the witness can be changed through a soft fork. Including the type of signature scheme used.
Both Roger Ver and Andrew Stone seem to be anti-segwit for inexplicable reasons. BU supporters seem to think SegWit is favorable, but only as a hard fork - an argument that I don't think is smart and is quite frankly disingenuous. If anything it seems they simply object to it because Core developers designed and implemented it (the responsible way IMO, as a soft-fork).
Why does Andrew Stone largely dismiss the desire for segwit integration into BU? He claims there's too much "technical debt" w/ SegWit @~ 52 minutes into the interview; example given is a ridiculous cop-out. He also claims "if we're going to do a hardfork anyway, why not take SegWit and make it into a hard fork?" as an argument against Core's implementation, yet his software is the software that is actually set to hard-fork, yet he hasn't ported SegWit in to activate when/if his miner-controlled blocksize hard-fork activates! At least he encourages everyone that's not a sock-puppet and can demonstrate that to register on their forum to propose any changes they want to BU which will be voted up or down by the members. Whether your membership will be rejected outright if you have voiced any pro-core opinions or not is an open question.
On to Ver. Why has Roger Ver chosen a demonstrably anti-segwit approach (despite his politically safe, but practically meaningless rhetoric about not blocking SegWit), even though I have yet to find a single retail/wallet/actual-nonminer-btc-adoption-entity that is against the SegWit approach? It enables so many pro-fungibility features in the future that it seems to me to be a no-brainer to activate. My suspicion about Ver is that he's hedging his bets with massive investments in altcoins with better anonymity features anyway, such as ZCash, Monero and DASH, so even if Bitcoin fails or falters due to fungibility issues, his anon-coin investments will offset his BTC losses.
What do you think?
submitted by burnitdownforwhat to Bitcoin [link] [comments]

The Blockchain Industry

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My name is Alexey Adylshin, I am backend developer at Platinum, the largest listing service provider for the STO and ICO projects. We know how to start ICO/STO campaign in 2019 and make it successful!
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Today I want to tell you about popular ICO business modules and blockchain use cases.
Trust & Reputation in the Blockchain Industry
Personal trust matters a lot in the Blockchain Industry. The investors, team members, advisors or exchange staff may know each other from working together on other projects. It is important you conduct yourself in a professional manner and treat people the way you want to be treated. Maybe we can say the crypto world was first populated by computer geeks and cypherpunks in hoodies. And that is perfectly okay; but it surely has evolved since then. The culture is more complex today. Serious money is involved. Sophisticated investors and money managers command large pools of capital. Everyone has expectations of an appropriate degree of professionalism. Your reputation, behavior, and character are important. You clearly want to distinguish yourself from any of the scammers and frauds in the Blockchain industry.
Major Roles in the Blockchain Industry
There are many specific job titles in the industry. We will focus on the major ones. But you will most likely wear a few different hats anyway. Just like in the real world, you will have to do different jobs at different times. Broadly speaking, there are seven major roles in the Blockchain Industry relating to ICOs: -Legal. -Marketing/PR. -Accounting. -Financial. -Business Development. -Advisors. -Technical Experts. There are of course many other roles covering every imaginable area, just as in the traditional world. But it is most important to focus on roles as they relate to ICOs.
Legal
In the blockchain industry, it is the responsibility of legal to ensure compliance with all contractual and statutory requirements in each jurisdiction. Even though it can be said that crypto and blockchain are still unregulated in some cases, and inappropriately/ineffectively regulated by traditional banking or securities laws in other cases, there are significant and unavoidable legal implications of using blockchain technology. Consider the digital enabled signature legislation. This enables digital signatures to be recognized internationally, thereby validating and authenticating transactions. Nevertheless, some transactions are still accompanied by other legal documents as well. Someone must be responsible for any such legal functions. And someone must also perform as an advocate and representative for the project. The legal advisor will typically come from a background of legal practice in his or her own jurisdiction. They can often provide a bridge to the traditional business world. Lawyers are generally paid just as well in Blockchain as they are in traditional business, though they probably have greater freedom and flexibility in here in crypto.
Marketing/PR
The role of Marketers and PR professionals closely mirror that of real world marketers and PR pros. Their primary role is to increase public awareness about the ICO project, and shape the narrative of the company. Primarily they will highlight the key benefits of the company solution and ensure this information is presented to the most important people. Marketing/PR in the crypto world is almost entirely digital. Social Media, Telegram Channels, Medium Blog Posts, Email Marketing, etc. are all the main forums and means of professional communication in crypto. Marketing/PR individuals are typically compensated based on their experience and contribution to the company. A marketer who is able to demonstrate significant upticks in engagement, investor interest, etc. will of course be paid well. Marketers who command a valuable audience will demand a greater fee. This role is one of the most sought-after and well-paid, due to the great amount of “noise” considered appropriate in the cryptocurrency industry.
Accounting
Accounting roles are responsible for managing company finances, just like in traditional business. They do all bookkeeping work involving cryptocurrency transactions, as well as basic fiat currency transactions, and any exchange interactions and other transactions. Projects utilize major accounting software like QuickBooks, software which allows for computerized accounting, and payroll professionals, to perform regular tasks involving invoices, sales, purchasing records, and balance sheet reporting. Just like in a traditional organization, the accounting team monitors and maintains records of all financial transactions and investments. They ensure that specified budgets are followed and expenses are not surpassed. In so doing, they keep project expenses in-line with company objectives. They also might identify or evaluate business opportunities, and advise the project team about such investment ideas. They will often be compensated based upon experience and the significance of their particular contribution to the project.
Financial
A financial role in an ICO company can be one of the most engaging, but can come with great responsibility. Your role will focus predominantly on the management of company finances. That is a purposely general description because it is a position that covers a broad range of responsibilities. One day you might be coordinating with the founders and the business development advisors about the business model and the direction of the project. The next day you may be helping the founders explain to seed investors why you need capital to remain solvent. Then you may be tasked with investing the funds raised from the ICO into other cryptocurrencies to diversify the risk profile of the company finances. In the traditional market, finance jobs are very well remunerated. In the cryptocurrency space, you are of course rewarded based on your experience and contribution. However, the amount of responsibility you take, and your ability to be flexible and quick on your feet, can often command premium compensation.
Business Development
Blockchain business development professionals perform a variety of roles, typically structured around strategy and business ideas. Business development individuals will usually collaborate with every member of the team. Their contribution is not strictly defined by any kind of tangible work, such as writing code or producing graphic design, but rather by the idea of creating a general direction and manner in which the business can achieve its vision. They are responsible for structuring the company’s model, its roll-out plans and key objectives along the timeline. Often the founders of the company will be the ones to focus on Business Development because they have the strongest grasp of the magnitude and nuances of the project and its product. Business Development professionals also are often remunerated based on relevant experience, and their contribution to the project.
Advisors
Businesses that intend to launch new blockchain projects frequently seek guidance from more experienced advisors. These are people who can offer first-hand information, direction and contact with relevant parties. This kind of advice and ability to give you introductions can be crucial to the success of your project. The role of advisors cannot be easily overstated. The title may sound vague and ambiguous, because it is. But it is a role that covers a lot of very important areas. An ICO might have great financial wizards on its team. They might be incredibly talented at creating their unique product, ecosystem and solution. They have their Blockchain technical expert who can replicate and create the system on the Blockchain to anchor their project. But without effective marketing, without connections to investors, traditional companies, and governments, the whole project is dead in the water. Advisors play a crucial role. It is a role that should be appreciated, and used for all it is worth. In the Blockchain industry, we broadly define and divide advisors into two major categories, Portfolio Advisors and Domain Experts.
Major Roles in the Blockchain Industry
Portfolio Advisors : Would not contribute strategy or give serious feedback as much as help facilitate good personal interaction with the press and other key partners. A Portfolio Advisor can also be an invaluable conduit to explain things to investors or the press. The Advisor is a good person to explain team decisions in the event of both good and bad news. Crypto and Blockchain projects use advisors to improve their business reputation and industry image, and to make their ICO company appear more serious and professional than it would otherwise appear. As mentioned, the advisor does not necessarily do any actual work such as coding. The Portfolio Advisor is more of a figurehead and professional conduit for the ICO, with a wide range of advisory functions and roles. Compensation for the Portfolio Advisor is often directly proportional to the specific utility to the company or the size of the role. An advisor who brings in half of your ICO funding in pre-sale will of course demand a much larger fee than someone who simply connects you with a few partners who might possibly be useful sometime in the future. A good advisor can earn up to tens of thousands of dollar, or even more.
On the other hand, Domain Experts provide the kind of input you would expect. They give practical and strategic direction to help the business be more successful and achieve its objectives in a timely fashion. These advisors can be expert in Cryptocurrency or expert in another related specialty. Typically, Domain Experts will already have significant exposure to the cryptocurrency industry, and a valuable understanding of how things operate. Although, due to the rapid growth in the industry, there are many new advisors and experts specifically brought in for a particular reason, so it may in fact be their first interaction with a Blockchain company. Domain Experts could have experience as diverse as healthcare, finance or gaming. Generally speaking, their contribution to the team will be focused solely within their area of expertise. As with Portfolio Advisors, Domain experts are compensated based on their experience and specific contribution to the project. But many ICOs will try to bring the two roles together. They will ask a well-known, highly-regarded Domain Expert to also appear on the website and help build the overall professionalism and reputation for their project, just like the Portfolio Advisor would do, as well as contribute their Domain Expert knowledge to the project.
Technical Experts
Did you know that there are certified blockchain experts (CBE)? The Blockchain Council is a certifying body that helps businesses, developers, and all interested individuals to become educated about the Blockchain industry. Technical Experts are specialists with in-depth knowledge and understanding of what the Blockchain is and how it can be utilized by businesses to maximize their potential. They are often the individuals who design the framework of the Blockchain solution, write the associated code, and debug as necessary. These experts are also able to certify other individuals in the Blockchain discipline of Distributed Ledger Technology from a vendor-neutral perspective. One of the most notable technical experts in the Blockchain network, is the well-known creator of Ethereum, Vitalik Buterin. Vitalik Buterin created Ethereum, and ETH, the world’s second most valuable, massively traded cryptocurrency. In 2011, the team founded the Bitcoin magazine which publishes information about the Blockchain technology.
Exchanges
While not a part of our original list of positions and functions, Exchanges perform a central role with every ICO and Blockchain solution. If you are an ICO company and want to facilitate a market for your token (you always do, your investors will demand it) then you need the exchanges to provide this service. Exchanges, as we have discussed before, provide the market, the liquidity and the compliance with the necessary regulation/KYC requirements. After the ICO fundraising has been completed, the company’s token/coin begins trading on an exchange. Working on an exchange is another important career option in crypto that should not be overlooked. Exchange professionals may not earn as much as some of the other positions, (unless they also own an equity stake in the exchange), but they are still well-compensated for their technical knowledge and the sensitive nature of their job.
The Interaction of the Roles
People in all of the positions and roles we are talking about will need to work together and communicate with each other at various times. To start and grow a company from an idea or vision, to a tangible thing, is quite a tricky feat. Sometimes the technical experts will need to sit down and explain something to the business developers. The marketers might need clarification how the underlying technology works. Similar to real-world business, something many of us already know from experience, the management structure of a company plays a large role in how people in different positions interact while performing their jobs. If the company is particularly hierarchical, management might insist on going through specific touchpoints when sharing information, thereby allowing management to add their own input. Other companies will be comfortable with marketers and technical developers just speaking amongst themselves to achieve the agreed upon end goals of the business. Cryptocurrency projects often tend to become a special collection of especially talented people from all over the world. Management takes on a somewhat different role in the cryptocurrency space. It is important when you start on a project to be clear about how you should communicate with other team members, the channels of communication and the expected manner of interaction too. Some teams prefer to keep things quite informal, sharing gifs and memes to each other, while others prefer conversation on company channels and a strictly professional style.
Pre, During & Post ICO Business Roles Pre-ICO Launch
This period is the same for all new companies. This is when the foundation of the business is formed. The idea is validated. Initial development begins, and the team is assembled to start building the company. For an ICO destined company, this period includes where the idea is placed upon the Blockchain, and the use case created. Ideally, the idea should require the Blockchain to function, or at the very least, require Blockchain technology as the most suitable option. One of the first things an investor should do when they look at your project, is evaluate the need for a Blockchain solution. That is exactly what you should do first too. Your team should thoroughly inspect all possible technology options to equip your business with the best framework or “backbone”. You should look to justify the positives and negatives of each framework before landing on the most suitable solution. For an ICO, this needs to be a Blockchain based solution.
Pre-ICO Launch
The next step is of course researching the competition. With so many ICOs recently it is important to consider who else is active in this space. Who has had or done the same idea before? How is your company different? Why should someone invest money in your company, in your idea, as opposed to the other available options? You should then identify the major challenges your business is going to face. The application of Blockchain technology is so wide and organic to a lot of industries, it’s important to fully analyze and develop your idea for the real world. Do not just assume the Blockchain is going to do anything you want and solve every problem for you. After identifying your needs and challenges, the next step is to look for information about Blockchain technology that does solve your specific problem. This is often a combination of a few different roles working together. Your business development, technical specialist, and marketer as well as perhaps your financial people should all be involved. All positions can and should conduct research, envision areas of opportunity, and predict associated challenges to be met. After doing their research, your team should be able to make an intelligent decision on the path to take. You should have a good sense of where that leaves you, from a business development standpoint, a technical standpoint, and a fund-raising standpoint as well. At this point, you will need to organize and arrange all of your business roles and services to suit the company’s direction from now on. You are also likely to need to bring new people onboard to continue to grow and progress down your chosen path.
During the pre-ICO launch, a timeframe is set with company goals. One of the components of a pre-ICO launch is to design and launch your website, which serves as the point where investors go to obtain information about the project. Basically, the website will provide a link to the whitepaper, it will show the members of the team, and it will show the timeline of the project. The success of any pre-ICO launch depends on how well the project is able to pitch to investors about the necessity of the product and the use case of the Blockchain. All of this information is normally available on the project website, and it serves a dual purpose, the latter being a Marketing strategy. The website provides an extremely useful central point of focus for everyone. Your marketers can use the website to refer investors or potential team members. Your company can use your website in meetings with partners, advisors and regulators to demonstrate authenticity and professionalism. You have formed your team and your idea. You have made an operational website and a full series of marketing materials. You are ready to present your idea to the world. In the cryptocurrency world, this involves placing ICO announcements on websites specifically targeted toward cryptocurrency investors and professionals. Utilizing social media like LinkedIn and Medium will enable you to reach out to more people and increase participation and hype surrounding your pre-ICO launch.
During the ICO, your project would have generated tokens which will be used in exchange for Bitcoins, etc. Creating a token virtually means producing an asset that your business needs to survive, an asset with which it can conduct transactions. Tokens can represent digital coins, loyalty points, gold certificates, IOU’s, in-game items. The majority of tokens should perhaps not be thought of as shares in a company, as in a traditional IPO, but rather as utility tokens with a value dependent upon and derived from the token’s utilization in the company solution. Some projects will begin to sell these tokens (usually a specified amount) during the pre-ICO period, typically in what is called a “pre-sale”. Pre-sale tokens are usually offered to team members, advisors, large investors, key partners, etc. as a way to both invest in the future of the company, and to reward the people involved. The pre-sale tokens are almost always offered at a discount, and come with a vesting schedule. A projects’ next step will then be contacting and building relationships with exchanges. As previously discussed, the cryptocurrency exchange provides the means through which people are able to buy and sell the project tokens on the open market. Recognition and acceptance by the largest and most reputable exchanges matters a lot. Being listed is an efficient way to raise funds, attract new investors, and incentivize your current investors. Many investors will require you to detail your plans for getting listed on an exchange before they even invest in the pre-sale. Investors will not see any value if there is no listing, no exchange, and therefore no liquidity for that token.
During an ICO
A comprehensive list of exchanges can be found on Best Bitcoin Exchange. Most tokens will also be listed on CoinMarketCap, which is essentially a stock ticker of token sales. Tokens are listed and ranked according to the success of their ICO project. When an ICO project begins to fail, or fall below target, its ranking on the list decreases and ends up at the bottom, or the token becomes delisted entirely. The actual process of listing a coin on an exchange varies significantly by the site. Most exchanges like Bittrex and Poloniex strictly forbid tokens that could be considered a security. Building hype during an ICO project is all about gaining popularity. With the large number of ICO projects coming up every day, you need an effective strategy to help your ICO project stand out. A strong Marketing & PR team should be focused on the main avenues of communication. Identifying avenues of Communication The first step is to identify the best social media channels to reach out to a large number of relevant audiences. Twitter and Facebook are most often used to advertise projects. Facebook offers various opportunities you would not want to neglect. Browse through different Facebook communities, as well as web resources like helpareporter.com, those frequented by experts, journalists, etc. in order to understand the message content they like to see and the information they think is important.
Being in Touch with the Audience After you have identified your audience, maintain contact with them before the ICO, and throughout the entire process. Slack and Telegram are two extremely common ways to stay in touch with your investors and the community at large. You may also use forums like Bitcointalk and Reddit. It could be very wise to hire a specialist to engage in discussions about your project at this point. A forum debate is valuable interaction with the audience allowing you to get feedback from investors in the ICO and future users of your product. Create a Bounty Program A Bounty program is a strong and powerful means to build hype for the ICO project. It is an effective way to attract the attention of investors to your ICO; and a good rewards program to incentivize freelancers to promote your project out into their network. Rewarding users for signature campaigns on bitcointalk, email subscriptions or blog posts may be some of the best ways to broaden your investor audience.
Investor Roadshows
During this period of building hype for your ICO, you can identify and meet with potential investors in your project. This is a crucial step for your ICO and is incredibly important. This should in fact become top-priority for all of your team members. Investors will want to talk with every member of the team and ask very specific questions relevant to their domain of knowledge. The investors are thinking about their return. It is important to develop a profession level presentation. Clearly define expectations for the project. Illustrate your projections with good charts and visual aids supported by relevant independent analysis as much as possible. Be prepared. This information should be available to you at any time. You should always be ready to deliver a sophisticated presentation to potential investors. It is also smart to talk about other ways an investor will benefit from your project, other than the financial gains. You can think about it, and research for good ideas. At this stage, it is also important you already know what the hardcap of your coin will be, as well as its circulation. This amount should be fixed and specified before you launch your ICO. The coin distribution can never exceed this specified amount.
There are three key attributes which investors assess before investing in an ICO.
Circulating Supply
This is the number of coins that have been freely floated and are available in the market. In some instances, projects could have all their tokens pre-mined, and released all at once through the ICO. The circulating supply will, therefore, be the same as the maximum supply. Other times, tokens have to be mined over time, or coins are released on a specified schedule. As discussed earlier, this strategy can help maintain the value of the coin.
Total Supply
This is the number of coins that actually exist, including the ones that are not in circulation. Why would coins exist but not be in circulation? It could be for a number of reasons. A team might have mined coins but held them back without putting them on the market. Team members, advisors and pre-sale investors are required to hold their portion of the ICO for a specified number of months to prevent coins being dumped at listing. The coins, therefore, exist, but are not yet in circulation.
Maximum Supply
This is also known as the hardcap. This number is of paramount importance because this is the maximum number of coins that will ever be created (Bitcoin’s hardcap is 21,000,000 tokens.). Not all cryptocurrencies have a hard cap. Ethereum, for example, has no maximum supply limit of Ether.
Why is the hardcap important?
There are two fundamental reasons to support an established hardcap. The first has to do with scarcity. Just like diamonds. They are not only valuable for their beauty and strength. They are also valuable precisely because they are scarce. The scarcer they are, the more valuable they become. It’s the same with cryptocurrencies, simple supply and demand. If there is a finite supply of a particular token, the value of the coin is likely to increase over time. This will in turn ensure the integrity and value of the underlying network. When the hardcap is extremely low, you won’t be able to obtain enough funds to develop and grow the network. On the other hand, if the network is flooded with tokens that don’t have a purpose because the hardcap is excessively high, the value of the coin will become diluted, causing a drop in the integrity and value of the network. The second reason the hardcap is important is closely connected to the project roadmap. For every amount raised, the startup should make sure there is an explicit and concise purpose for those funds. Basically, “if we raise so much, then this is the plan. If we raise more, than this is this plan, and this is how we will use the funds raised.” However, we’ve seen projects raising hundreds of millions of dollars with no set objective of what to do with all that money. There have been instances of startups setting a funding target of $20 million, but then they go on to raise over $200 million because they didn’t set a hardcap. That means there is no predetermined plan for the excess $180 million.
Post ICO
After the successful completion an ICO, it is time to kick-start the project. Immediately execute plans from the white paper and purchase lists. Move as quickly as possible to bring your company to life. Let’s take another look at an example of a successful ICO we have discussed before.
Tezos
The project was able to generate a total of $232million within three months of the ICO launch. The token created for the project was called ‘XTZ’ and the value for one XTZ was evaluated at: ICO Token Price: 1 XTZ = $0.47 XTZ token price max = $11.21 XTZ token price min = $1.76 XTZ token price to 07/01/2018 = $5.82 Returns since ICO (USD): +1,138% Tezos After the successful completion of the ICO launch, Tezos quickly activated their technology which is intended to compete with Ethereum, and simplify launches for new projects. Nevertheless, the project encountered a major setback. Two lawsuits were filed against Tezos claiming they violated both US Federal and State law. The Tezos tokens were qualified as securities. Therefore, by not registering them as securities, the company violated the securities laws. The project was also accused of fraud based on the premise that the tokens had been distributed under the pretense of being charitable contributions.
Bancor
The Bancor ICO project was aimed at introducing a convenient way to issue smart-tokens and convert them without a counterparty. After the ICO, the project made some good progress, launching its app in beta mode. Presently, the app has been fully developed such that it is able to convert 14 cryptocurrencies including ETH and BTN tokens. The ICO raised $153million from the sale of their tokens. The breakdown of the value of the token during ICO and after is shown below: ICO Token Price: 1 BNT = $3.92 • BNT token price max = $8.17 • BNT token price min = $1.52 • BNT token price 07/01/2018 = $8.17 Some projects, like Bancor, remain successful after their ICO; while some, like Tezos, fail. It is not enough to plan for an ICO project simply by investing in publicity and token sales. The team must continually try to keep up with and surpass the competition, and give more value to the investors. A basic way to add value is to increase the exchange rate or price of the token. Investors and team members earn greater returns, and the project always stays above breakeven. For a project token to increase in value, there has to be more demand for it in a free market, relative to a given supply. It is important to have a clear understanding of how your token will likely be received, traded and supported throughout each stage of the ICO process.
In the Post-ICO stage, the financers and founders of the company will usually begin to manage and assess how best to support the token price. Here are some common strategies and ideas: Token Cap: The easiest way to support the token price is to reduce the number of tokens in circulation. Putting a cap on a token means placing a limit on the number of tokens that are available. As the supply of tokens is reduced, the demand for the token increases and the value of the token goes up. Token Buy Back: just as the name signifies, the team members can unanimously agree to buy up all or most of the company tokens that are still in circulation. When they have done that, they can either burn or destroy the tokens. The of course reduces the number of tokens in circulation and subsequently increases the value of the floating tokens. This kind of buy back can be taken as a continuous course of action, or be used as a one-time way to boost the token value.
Token creation by Third Parties: Team members can also brainstorm for other ways to increase or restrict the supply of more tokens to the market. One way tokens are created is via mining. When a project makes mining the main way to increase the supply of tokens for their project, that is perceived as more difficult and restrictive, limiting the rate of increase in supply on the open market, therefore increasing the demand for that token. Token creation by the Project: A project can simply choose to create more tokens when necessary. For example, when the token value has become so high that the users do not use it anymore for the services offered. This action is not generally recommended. It not only burns earlier investors by diluting the value of their current holdings, but also bodes poorly for the future (you might just keep minting new coins). Generally, to increase the demand for a token, the services offered by the project can be made more valuable to the users. That will generate higher demand. The more investors make use of the services and pay with the project tokens, the higher the token value will be.
Involvement in the Blockchain Industry
After you have some ideas which role or position might be best for you, you can start to network and search for opportunities in the crypto ecosystem. It is not enough to be an accountant, an economist or a business development professional in the traditional world. You need to know about the Blockchain industry as well. Remember, in the Blockchain industry, your reputation is everything. You want a strong social media presence. A professional profile on LinkedIn. Published articles if you have them. When you start talking to projects, you want to have a solid understanding of who you are and what you can do in crypto and Blockchain. The best way to get experience and become a part of your first ICO project is either: Volunteering: gets you into the industry. At first, you might want to care less about what is in it for you, and just get your foot in the door. If possible, you can volunteer for a role in an ICO project you really want to work at. Direct Networking: is a loose term that simply means you contact projects and ask about what is going on. Many projects are run by very digitally savvy individuals. Just asking for a job opportunity is likely to leave you disappointed (unless they happen to actually be in need of your exact talents at that time! In which case asking for work is the smarted thing you could ever do). Try to be useful, become friends, or associates. Help a team member anyway you can and see if an opportunity arises from that.
That’s not all! You can get better understanding of major roles in the blockchain Industry from ICO teams through to solidity developers. Follow the link to read our lesson on the topic:
UBAI.co
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Subreddit Stats: Vechain top posts from 2017-10-25 to 2018-11-27 12:36 PDT

Period: 397.81 days
Submissions Comments
Total 1000 56541
Rate (per day) 2.51 142.01
Unique Redditors 464 7342
Combined Score 206440 328741

Top Submitters' Top Submissions

  1. 22577 points, 69 submissions: noah_vechain
    1. VeChain passes the first ever Cryptocurrency Disaster Recovery Plan from PwC (1142 points, 124 comments)
    2. VeChain Signs A Partnership Agreement With Yida Group’s IT Management division, Yida Future (849 points, 174 comments)
    3. VeChain partners with Australian based 188 Business Alliance Association (787 points, 117 comments)
    4. VeChain’s First Official Public Infrastructural Decentralized Application — VeVID (695 points, 121 comments)
    5. VeChain partners with iTaotaoke to bring intellectual property protection to content creators. (608 points, 118 comments)
    6. VeChain Signs a Partnership with Bright Foods and its IT/Tech subsidiary Shanghai Xiandao Food to integrate blockchain technology into Bright Foods (Group) Co.'s internal management systems (605 points, 167 comments)
    7. Introducing VeChain’s Drug and Vaccine Traceability Solution (560 points, 282 comments)
    8. VeChain pledges 50M VET to create the X Series Node Program (559 points, 546 comments)
    9. VeChain adding publication industry capability and partners with Hubei Sanxin Cultural Media Ltd. (498 points, 60 comments)
    10. An open letter from Sunny Lu (CEO) on VeChainThor Platform (492 points, 123 comments)
  2. 6682 points, 40 submissions: skythe4
    1. [NASDAQ] VeChain Announces Blockchain Vaccine Tracing Solution for China (497 points, 74 comments)
    2. We are excited to announce that @Decent_Bet will be the first of many projects to migrate and release their mainnet on the VeChainThor Blockchain. We look forward to the rapid expansion of VeChain Ecosystem. (323 points, 46 comments)
    3. Wow @vechainofficial ! Is this real? Is this a test for H&M? One of our members ordered this beanie https://www.arket.com/en_eumen/bags-accessories (309 points, 147 comments)
    4. Please view our VeChainThor Wallet Manual. This manual provides instructions for token swaps and X Node migration. The final X Node snapshot of the Ethereum chain is taking place in 20 mins. On August 1st, the VeChainThor X Node monitoring will resume. (271 points, 156 comments)
    5. $VET putting their NFC chips in meetup goodies. The t-shirt chip is as big as a shirt button. Through a future hardware update, the luggage tag will allow you to check the location of your luggage at any time, recording airport & airline details and ensuring luggage safety. #NFC (262 points, 47 comments)
    6. INPI Asia and ITP have signed an exclusive deal with Jakarta's national government and private sectors. These entities validate data and documents via the VeChainThor Blockchain using their proprietary dApps KryptoCloud, DocKrypto, and KryptoMobile. (249 points, 121 comments)
    7. [DNV GL] Proud to partner with @vechainofficial , @BYDCompany and other leading Chinese businesses on #sustainable solutions for the future! Today @RemiEriksen signed an agreement on a #blockchain-based #carbon banking #ElectricVehicle #EV ecosystem. (242 points, 30 comments)
    8. The Reason why VeChain is far ahead of its Competition (215 points, 84 comments)
    9. VeChain Showcases Multiple Solutions at the First Inaugural China International Import Expo (192 points, 17 comments)
    10. Mark Ong of SBTG, famous for customising shoes for the likes of Kobe Bryant and Linkin Park's Mark Shinoda, will be showcasing #vechain #authenticity technology at Street Superior's Brand Showcase in Singapore this weekend @vechainofficial (189 points, 37 comments)
  3. 5656 points, 20 submissions: GreatWhiteSharkCIA
    1. VeChain Reddit Community hits 20,000 Redditors - Thank you all for your continued support! (664 points, 55 comments)
    2. The Mathematical Institute at Oxford University has officially joined the VeResearch program (592 points, 90 comments)
    3. As a community, we grow stronger - 40,000 and counting. Thank you for being a part of something special and for all your support! (548 points, 41 comments)
    4. 15,000 Redditors and counting, thank you all for your support! (399 points, 32 comments)
    5. Congratulations Reddit - 45,000 Redditors subscribed to /VeChain (384 points, 27 comments)
    6. Thank you for your continued support as our community grows to 50,000 Subredditors - here's to our continued success (315 points, 58 comments)
    7. @BitOcean_JP, one of the first cryptocurrency ATM solutions licensed by Japan's FSA, teams up with #VeChain. We are honored to continue building the world’s first ATM powered fiat payment application ecosystem on the blockchain alongside BitOcean. (269 points, 42 comments)
    8. DNV GL and VeChain Facebook Live Q&A - 24th Jan (256 points, 64 comments)
    9. Welcome to /VeChain (252 points, 0 comments)
    10. VeChain is the fastest growing community on Coinmunity! (225 points, 20 comments)
  4. 4532 points, 23 submissions: CryptopherWalken
    1. The cryptocurrency ban is over. Please be mature, responsible and judicious. (584 points, 53 comments)
    2. NYC Meetup - Full Summary! (445 points, 69 comments)
    3. BYD tweets at Vitalik, quotes him, and points to VeChain as " the real world application for blockchain we've all been waiting for." (359 points, 127 comments)
    4. NYC Meetup Update (248 points, 154 comments)
    5. Phil Hellmuth on Twitter: "Flying into Vegas for the day to chill w VEN (VEChain) CEO and Founder @SunshineLu24 and DBet CEO and Founder @JedidiahTaylor, flying out at 9:30 PM" (231 points, 74 comments)
    6. Crypto_Ed_NL on Twitter: "I have a good feeling about a new prediction..... If $VEN gets all done what they are planning, I expect them to surpass ETH within a year from now." (215 points, 199 comments)
    7. VeChain Mentioned in November issue of Motortrend magazine! (200 points, 19 comments)
    8. Sunny Lu re Drug and Vaccine Solution: “Bigger than you think” (184 points, 61 comments)
    9. Kevin Feng: "GDPR is apparently the hottest topic among our EU clients and government departments. In the past 12 months, VeChain has been working closely with professional service firms to assess and enhance our solutions and internal controls to comply with global regulations." (177 points, 9 comments)
    10. Sarah, VeChain Singapore Manager: "T- 1 day! Extremely excited @vechainofficial is one of 30 startups selected for the LVMH innovation award #GoVeChain #VeChainThor #LVMHTech #FutureofLuxury #Blockchain #VivaTech" (167 points, 51 comments)
  5. 3000 points, 17 submissions: Stockton_Slap209
    1. Rebrand Date IMPORTANT (365 points, 123 comments)
    2. Yicai Global retweets PBoC Rumor (310 points, 202 comments)
    3. Holy Sh%&t. Have you guys seen who are CTO is? (257 points, 70 comments)
    4. VeChain mentioned on Today! Bullish! (238 points, 27 comments)
    5. 1,000,000 clauses on VeChainThor mainnet! Milestone reached! (210 points, 103 comments)
    6. The entire milk section of this convenience store (and every other of this brand) is Bright Foods (光明) Do not underestimate the size of this partnership $VET $VTHO (194 points, 16 comments)
    7. VeChain Partners With Xiamen Innov Information Technology Co. LTD (Innov) (183 points, 41 comments)
    8. Hello. I am the VeChain Tipbot. (24h public testnet beta) (152 points, 34 comments)
    9. Sneak peak at the Blockchain in Action.... THOR (145 points, 30 comments)
    10. Check out this SBTG video! Spread it like wildfire and show the true power of the VeChain community!! (132 points, 27 comments)
  6. 2877 points, 12 submissions: B5SF
    1. VeChain Twitter: It's a great honor to meet Alexander De Croo, Deputy Prime Minister of Belgium [...] (503 points, 101 comments)
    2. DNV GL partners with blockchain expert VeChain to increase transparency from the factory to the consumer (462 points, 109 comments)
    3. Introducing VeChain’s CTO Gu Jianliang to the Community (394 points, 61 comments)
    4. BYD Auto - Gobal Developers Conference (Sep 5th) - VeChain's CEO Sunny Lu attending (271 points, 92 comments)
    5. Cyprus to collaborate with VeChain Foundation and CREAM for fintech, blockchain development in Cyprus (247 points, 76 comments)
    6. The Coca Cola Kid on Twitter - "Is it time?" (213 points, 102 comments)
    7. VeChain Partners with Shanghai Gas and ENN to Pilot Blockchain-Enabled Liquified Natural Gas Solution (202 points, 7 comments)
    8. China orders banks to stop financing cryptocurrencies & plans his own digital currency (140 points, 225 comments)
    9. At 8:00 on January 4, 2018, the founder of Vechain, Lu Yang, will make a breakthrough in technological transformation at the live-streaming "China-US Blockchain Broadcasting Group" (138 points, 70 comments)
    10. Sunny Lu: Ladies and gentlemen, welcome onboard to VeChain Airline. Please fasten your seat belt and we are about to take off soon. (125 points, 59 comments)
  7. 2645 points, 19 submissions: Roc_Raida
    1. WATCH NOW: Advancements with Ted Danson (CNBC) Blockchain with VeChain (324 points, 62 comments)
    2. VeChain's Tech Deep Dive Series - Session 1, Episode 4: Introduction to Sensor and Smart Chips (189 points, 16 comments)
    3. Check Your VeChainThor Wallets ;) (187 points, 107 comments)
    4. You Can Now See Your New VET Balance on Binance ! (165 points, 146 comments)
    5. BMW Startup Garage Retweets Jerome Speaking at BMW Group IT Tech Demo Day (160 points, 17 comments)
    6. SPOTTED: OceanEX & VeChain Sign (149 points, 43 comments)
    7. Morpheus Labs onboards a renowned Blockchain — VeChain (135 points, 21 comments)
    8. Invest Cyprus Tweets the signing of an MoU with VeChain and CREAM (133 points, 22 comments)
    9. Cycling for carbon credits - Remi Eriksen (DNV GL Group President and CEO) (132 points, 18 comments)
    10. PLAIR (PLA) Now Featured in VeChainThor Wallet ! (120 points, 63 comments)
  8. 2550 points, 16 submissions: born2net4
    1. Circle-X and VeChain's Blockchain-X... (290 points, 99 comments)
    2. VeChainThor Wallet User Manual & X Node Binding & Token Swap Guide (287 points, 88 comments)
    3. Chinese President Xi Jinping calls blockchain a 'breakthrough' technology (238 points, 15 comments)
    4. Ethereum Billionaire Looks to China for Next Big Crypto Winners (VeChain baby) (210 points, 32 comments)
    5. Pharma Giant Merck Eyes Blockchain for Fighting Counterfeit Meds (201 points, 42 comments)
    6. Your take on Sunny's live stream... (167 points, 163 comments)
    7. Hardest working guy in Crypto, Sunny Lu! (138 points, 17 comments)
    8. BoxMining meets Sunny Lu (128 points, 4 comments)
    9. VeChainThor connection to testnet video tutorial (my first video on VeChain dev) (123 points, 11 comments)
    10. To Da Moon, check it out..... cool stuff!!!! (117 points, 22 comments)
  9. 2243 points, 11 submissions: Deaf_null
    1. Binance needs to lower VEN transaction fees, let’s act as a community. What can we do? (384 points, 52 comments)
    2. Vechain ready to rock crypto-market with rebrand (325 points, 53 comments)
    3. 3 Reasons why to buy Vechain in 2018 (246 points, 41 comments)
    4. Vechain has a bright future ahead. (237 points, 53 comments)
    5. VeChain, QTUM, HPB and Metaverse partner with CPChain to revolutionise IoT in China (188 points, 36 comments)
    6. Vechain Bullrun vid. (174 points, 41 comments)
    7. Best alternatives to Bitcoin? Vechain #4 (165 points, 24 comments)
    8. BREYER Bullish on VEN (149 points, 4 comments)
    9. Vechain’s Blockchain-as-a-service seeks to stop product counterfeiters (130 points, 7 comments)
    10. CHINESE OFFICIAL: NEW REGULATIONS FOR 2018 MAY END ICO BAN? (124 points, 26 comments)
  10. 2240 points, 8 submissions: patek_
    1. We are Trending on the Frontpage - Dont forget to upvote! VeChain’s Latest Partnership (565 points, 29 comments)
    2. Chinese Goverment Bullish News on Crypto - Expect a Boost for China Coins (356 points, 67 comments)
    3. Why I believe Vechain could reach $100 in 2018. (308 points, 247 comments)
    4. Breyer Capital and Vechain (291 points, 44 comments)
    5. Reminder: Jim Breyer VeChain Advisor (264 points, 45 comments)
    6. VeChain Thor Positioning To Become The #1 Enterprise dApp Platform, And Here’s Why - A Systems Analyst’s Perspective (172 points, 4 comments)
    7. “VeChain - The Future of Blockchain in China” (155 points, 29 comments)
    8. VeChain Rebranding Coming Soon! (129 points, 35 comments)

Top Commenters

  1. lol_and_behold (3848 points, 442 comments)
  2. ohredditplease (3525 points, 524 comments)
  3. Lurks_no_longer (3085 points, 189 comments)
  4. hungryforitalianfood (2821 points, 501 comments)
  5. waylandsphere (2585 points, 884 comments)
  6. SolomonGrundle (2582 points, 339 comments)
  7. Camsy34 (2556 points, 229 comments)
  8. born2net4 (2045 points, 168 comments)
  9. Crypto-knowdeway (1979 points, 164 comments)
  10. Bacon_Hero (1966 points, 293 comments)

Top Submissions

  1. VeChain will partner with Fanghuwang, one of the fastest growing online lending platforms in China with $3.3bn AUM. With this partnership, VeChain Thor solves major problems within one of the largest global industries. by deleted (1352 points, 278 comments)
  2. VeChain announced working with BMW by suf0x (1292 points, 295 comments)
  3. VeChain passes the first ever Cryptocurrency Disaster Recovery Plan from PwC by noah_vechain (1142 points, 124 comments)
  4. Sunny Lu came into the VeChain telegram chat to address the FUD rumours about the tokenomics (in-house suppression, dumping, etc.) by deleted (1086 points, 182 comments)
  5. VeChain mods removed a legitimate criticism to VeChain. It cant always be happy rainbows and sunshine. We need to hear and discuss all the sides. Here is the text that was removed by them. by CoinStarX (1076 points, 126 comments)
  6. Vechain Partners with Tobacco by Castomere (994 points, 272 comments)
  7. VeChain Signs A Partnership Agreement With Yida Group’s IT Management division, Yida Future by noah_vechain (849 points, 174 comments)
  8. At exactly 08:00:09 the first block was successfully mined. The VeChainThor Blockchain has officially launched by Yes-Lawd (799 points, 324 comments)
  9. VeChain partners with Australian based 188 Business Alliance Association by noah_vechain (787 points, 117 comments)
  10. VeChain introduces VeResearch, a global innovation research grant program formed by research professionals to integrate blockchain into new and emerging technologies by Moussa93 (781 points, 143 comments)

Top Comments

  1. 355 points: Criptolete's comment in Just visited VeChain offices in Shanghai: got my hoodie and nice info for you!
  2. 299 points: Crypto078's comment in A message from Sunny Lu: STOP ASKING VECHAIN PARTNERS FOR MORE INFO
  3. 275 points: deleted's comment in VeChain mods removed a legitimate criticism to VeChain. It cant always be happy rainbows and sunshine. We need to hear and discuss all the sides. Here is the text that was removed by them.
  4. 255 points: eimajine1's comment in VET in september ;-)
  5. 249 points: Lurks_no_longer's comment in cryptocurrency mods have banned Vechain posts for a month
  6. 232 points: KMcCaig's comment in Sunny Lu came into the VeChain telegram chat to address the FUD rumours about the tokenomics (in-house suppression, dumping, etc.)
  7. 229 points: dotbomb_jeff's comment in VECHAIN can't say this, so I will...(X Node RANT)
  8. 223 points: deleted's comment in New Coca Cola Kid post
  9. 211 points: icculus2001's comment in What are your concerns?
  10. 199 points: catdeuce's comment in There's only one survivor of this year's cryptocurrency slaughter: VeChain
Generated with BBoe's Subreddit Stats
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US Futures Jump On Fresh Hopes For China Trade Deal, Dovish Powell Speech

In a generally quiet overnight session, renewed hopes for a thaw in U.S.-China trade relations at the upcoming G20 summit helped global shares rise to a one-week high on Wednesday, though lingering fears of a no-deal outcome weighed on European bourses. U.S. futures rose, extending on Tuesday's rebound and tracking gains in Asia as investors rekindled their risk appetite before a key speech by Fed chair Powell who many hope will reverse yesterday's hawkish rhetoric by Clarida, and come off as dovish, especially after this morning's report that Steve Mnuchin has been pushing for a shift from hiking rates to balance sheet reduction. The dollar and Treasuries were steady.

While President Donald Trump talked tough on the trade tariffs issue ahead of a meeting with Chinese President Xi Jinping on Saturday, markets focused on comments by White House economic adviser Larry Kudlow, who held open the possibility that the two countries would reach a trade deal. Kudlow’s comments helped Wall Street close higher and allowed Chinese and Japanese shares to rally 1% as the MSCI index of Asian shares ex-Japan gained 0.7%.
The mood however fizzled into the European session, with the pan-European index giving up opening gains to trade flat and Germany’s DAX trading unchanged. Technology companies and retailers were the best performers in the Stoxx Europe 600 Index, which struggled to maintain early gains as a Tuesday report that Trump may soon decide about new taxes on imported cars, still weighed on sentiment, keeping Europe’s auto sector shares 0.6 percent in the red.

"An expectation is being priced into markets ahead of the G20 meeting that we will see some deal or at least a framework for a deal between Trump and (Chinese President) Xi Jinping,” said Bernd Berg, global macro strategist at Switzerland-based Woodman Asset Management. “But if they come out with nothing this weekend, it’s going to be very bad."
Traders are also focusing on a speech at 12pm ET by Fed Chair Jerome Powell to see if he offers clues on how many more times the Fed could raise interest rates, following yesterday's modestly hawkish if cautious take from vice chair Clarida.
While Fed Vice Chair Richard Clarida took a less dovish stance on Tuesday than some had expected and backed more rate rises, Powell and his colleagues have in recent weeks alluded to global volatility, leading many to speculate the bank’s three-year-long rate rise campaign could pause in 2019.
Continued uncertainty over global trade as well as Brexit and Italy’s ongoing conflict with the European Union, have supported the U.S. dollar, which rose to a two-week high and approached the highest level hit in 2018.
While the main driver for the greenback is the U.S. interest rate path, Rodrigo Catril, senior strategist at National Australia Bank, said it was also benefiting from the uncertain mood. “Markets seem to be jumping at shadows at the moment and against this backdrop of uncertainty, the dollar remains the preferred option for weathering the storm,” Catril said.
Investors are also monitoring developments in Italy’s row with the EU over its budget spending, with Germany’s Handelsblatt and Italy’s La Stampa quoting EU commissioner Valdis Dombrovskis as saying the draft budget needed “substantial correction”.
The 10-year Treasury yield drifted ahead of Jerome Powell’s speech as European bonds nudged higher and the Euro was range bound. Italian bond yields flatlined after sharp rallies that were triggered by what appeared to be a more conciliatory stance from the government over the issue.
The dollar was mixed versus its Group-of-10 peers, trading in narrow ranges ahead of key events this week and EUUSD hovered below 1.1300; Treasuries were little changed with the 10-year yield at 3.05%. Sweden’s krona gained even after retail sales and an economic tendency survey missed estimates. The pound trimmed some of the previous session’s losses as U.K. Prime Minister Theresa May appeared to back down in a key Brexit battle with Parliament.
Brent crude handed back earlier gains to trade little changed. Brent (-0.4%) and WTI (-0.1%) are lower heading into the US open after initially trading positive. A larger than expected build in API crude stockpiles of +3.453mln compared to the expected build of +0.8mln had little impact on the price rebound at the time which instead focused on the larger than expected gasoline draw. Additionally, three North Sea forties crude cargoes which were scheduled to load in December have been cancelled due to the temporary closure of the 150,000 BPD capacity Buzzard oilfield. Saudi Energy minister Al Falih stated this morning that Saudi will not and cannot reduce output on their own, and is hopeful that upcoming meetings will result in agreement to stabilise the market.
Gold is slightly lower as the dollar continues to firm, although the yellow metal has rebounded from lows of USD 1211.3/oz in the previous session. Separately, copper is higher following a 3-session decline although, gains for the metal have been restricted by ongoing US-China tensions, with the most recent comments coming from White House Economic Advisor Kudlow saying that US President Trump is prepared to raise tariffs if G20 talks are not constructive.
On other markets, cryptocurrency bitcoin jumped 6 percent to above $4,000, its biggest one day jump since the summer, and extending its rebound from a low of $3,475 touched on Sunday.
Today's expected data include mortgage applications, wholesale inventories, and new home sales. Burlington Stores, Royal Bank of Canada, Tiffany, and Weibo are among companies reporting earnings.
Market Snapshot
Top Overnight News from Bloomberg
Asian equity markets traded mostly positive following a similar lead from Wall St. but with the session initially mired by lingering uncertainty regarding US-China trade relations. Nikkei 225 (+1.0%) outperformed as the index coat-tailed on the recent advances in USD/JPY, while ASX 200 (-0.1%) was subdued by weakness in miners after the metals complex felt the brunt of the recent USD strength and with financials subdued by AMP Capital amid risk of further mischarging cases and provisions. Elsewhere, Hang Seng (+1.3%) and Shanghai Comp. (+1.0%) were higher but with price action choppy in early trade amid tentativeness heading into the Trump-Xi showdown at this week’s G20 and as participants mulled over various comments from officials including White House Economic Adviser Kudlow who affirmed that Trump could hike tariffs if no constructive talks occur at G20 and that the White House is disappointed in China's response to the trade issue. However, Kudlow also noted that Trump is open to a deal with China and there were recent comments from China’s Vice Premier Liu that China wants a negotiated solution on trade based on mutual respect. Finally, 10yr JGBs weakened amid a lacklustre tone in T-note futures and with the BoJ’s presence in the bond market overshadowed by the outperformance of Japanese stocks. China's US envoy said selling or reducing purchases of US Treasuries would be very dangerous like playing with fire, while the envoy doesn't think anybody in Beijing is seriously thinking about pulling back from US Treasury debt market should tensions worsen. Furthermore, there were reports that China’s Ambassador to the US warned of dire consequences if the trade war leads to economic separation and that China prefers a negotiated solution, while the Ambassador warned that China will retaliate in proportion to any US sanctions regarding Muslim Uighurs in Xinjiang.
Top Asian News - Bank of Thailand Minutes Signal an Interest-Rate Hike Is Coming - Furor Over Gene-Altered Babies Deepens With China Project Halted - Pakistan’s Umar Says No Hurry for IMF Deal as Talks Resume - Turkey Sinks to Last on Emerging-Market Scorecard; Malaysia Tops - Brookfield Is Said to Be in Talks to Invest in Dubai’s Meraas
In a slightly choppy session thus far, European equities (Eurostoxx 50 +0.3%) have held on to opening gains seen in the wake of the upbeat US and Asia-Pac sessions, despite lingering trade concerns. The most recent interjection came from White House Economic Adviser Kudlow who commented that Trump is open to a deal with China and that the raising of tariffs to 25% is not a "certainty" but will be implemented if no constructive talks occur at the G20. In terms of sector specifics, IT names are the clear outperformers at this stage of the session with Wirecard (+1.3%) and Dialog Semiconductor (+3.1%) notable gainers in the tech-space after trying to recoup recent losses with not much else in the way of key newsflow. Noteworthy individual movers include EDF (+3.1%) with shares buoyed by reports that that a potential increase in the French government’s stake in the Co. would take place next year. To the downside, Tenaris (-8.2%), sit at the foot of the Stoxx 600 after the Co.’s chairman was indicted in a graft case, whilst Continental shares (-5.4%) have been weighed on by negative comments from Redburn who have warned over the group’s EBIT prospects in 2019.
Top European News
In FX, the DXY was off bet levels but retaining an underlying bid with supportive month end flows alongside HIA and SOMA redemption (24.9bln comes due on Friday) all impacting, while market participants keep a close eye on Fed Chair Powell’s speech scheduled for later today where he may stop the USD in its tracks or exacerbate the rally. The index has gained more ground above 97.000 to just over 97.500 before losing some momentum but still on the course to challenge the YTD high at 97.693, technically if not fundamentally. EUR: more choppy trade for the single currency with EUUSD trading around the middle of a 1.1267-1.1304 range having taken out stops at 1.1275. Italian politics keep weighing on the currency with the European Commission unimpressed as it will begin disciplinary actions on Italy regarding debt before Christmas. EU Commissioner Dombrovskis also added that a cut of 0.2% of the 2019 budget target is not enough. EUUSD is being drawn towards a large amount of option expiries between 1.1275 – 1.1300 (1.5bln). Looking ahead, markets will be keeping a close eye on the budget discussion between the Italian PM, two Deputy PM and Finance Minister for any hints of a budge towards EC’s direction. CAD – Another victim of the USD strength and global trade jitters as Trump’s economic advisor Kudlow said the USMCA agreement is to be signed on Friday at the G20 summit, but sticking points remain in regards to dairy. Note, choppy oil prices have hardly helped the Loonie slide to fresh multi-month lows around 1.3330. JPY ­ - Edging closer to 114.00 vs. the buck with heavy option expiries around 113.50-55 (1.47bln) and 114.00 (1.9bln). EM – Mostly weaker as the greenback hold firm with RUB as the standout underperformer amid the ongoing escalation between Russia and Ukraine, though Germany and France stated they are against stricter Russian sanctions for now, while there were witness reports of a Russian minesweeper ship heading towards the Sea of Azov share by Russia and Ukraine. On the flip side, the Russian Central Bank governor emerged earlier with a hawkish tilt whilst keeping options open for the next meeting. Note, USD/RUB is at 67.4000.
In commodities, Brent (-0.4%) and WTI (-0.1%) are lower heading into the US open after initially trading positive. A larger than expected build in API crude stockpiles of +3.453mln compared to the expected build of +0.8mln had little impact on the price rebound at the time. Additionally, three North Sea forties crude cargoes which were scheduled to load in December have been cancelled due to the temporary closure of the 150,000 BPD capacity Buzzard oilfield. Saudi Energy minister Al Falih stated this morning that Saudi will not and cannot reduce output on their own, and is hopeful that upcoming meetings will result in agreement to stabilise the market. Gold is slightly lower as the dollar continues to firm, although the yellow metal has rebounded from lows of USD 1211.3/oz in the previous session. Separately, copper is higher following a 3-session decline although, gains for the metal have been restricted by ongoing US-China tensions, with the most recent comments coming from White House Economic Advisor Kudlow saying that US President Trump is prepared to raise tariffs if G20 talks are not constructive.
Looking at the day ahead, the focus for the market is likely to be squarely with Fed Chair Powell’s speech. Away from that we also have the second revision of Q3 GDP in the US where no change from the +3.5% qoq saar estimate is expected. The October advance goods trade balance reading should also be closely watched with the consensus expecting a widening in the deficit to $77bn from $76bn last month. Also due out in the US will be October new home sales and the Richmond Fed manufacturing index print. It is another busy day for ECB speakers however with Coeure, Guindos and Praet all due to speak. The BoE’s Carney will also speak at the Financial Stability Report press conference this afternoon when we will also get the latest annual bank stress test results.
US Event Calendar
DB's Jim Reid concludes the overnight wrap
One thing I haven’t heard much about this year is a Santa Claus rally but the US has now had two up days in a row for the first time since mid month so maybe Santa is trying to get some momentum going. In fact given the conviction with which markets have moved in recent weeks, yesterday was a actually a rare calmer day with US equities opening lower but floating upward into their close. The S&P 500 ended +0.33% despite opening down -0.66%, while the DOW gained +0.44% and the NASDAQ closed flat. Attention continues to focus on this weekend’s meeting between Presidents Trump and Xi. The White House’s top economic advisor Larry Kudlow confirmed today that the two leaders will have dinner on Saturday night at the G-20 in Buenos Aires. He said that “there is a good possibility that we can make a deal” and “I don’t want to go overboard, but he [Trump] has indicated some optimism.” So hopes are continuing to build, and emerging market equities, which would benefit from a benign trade outcome, outperformed yesterday gaining +0.70%.
Apple continues to struggle and traded -0.22% lower yesterday as concerns continue regarding the company’s demand outlook and possible tariffs on components for their goods. Notably, Microsoft overtook it to become the world’s largest company by market cap again for the first time since October 2003! The last time Microsoft was larger than Apple was back in May 2010 (though at that time, Exxon Mobile was larger than either of the tech giants). Since Apple peaked in early October, it has shed around $300 billion of market cap, while Microsoft has shed ‘only’ $60 billion, or the equivalent of Pakistan’s GDP to the equivalent of Panama’s respectively. So in 7 weeks Apple has lost the entire annual GDP of a country with 197 million people in terms of market cap.
Europe struggled after an early positive open to close slightly lower across the board with the STOXX 600 ending -0.26%. Part of the reason for the dip in Europe seemed to lie with a story in the German business magazine WirtschaftsWoche (WiWo) which reported that President Trump may, as soon as next week, impose tariffs on cars imported into the US. However the details of the story appeared vague with the source also referencing “EU circles,” while the EU later rebutted the story. That said, autos lagged the wider market in the STOXX 600 yesterday with the sector down -2.52% with EU Trade Commissioner Malmstrom also repeating the warning of the risk of US tariffs on cars.
Making much less of impact on markets yesterday than his speech from two weeks ago were the comments from Fed Vice-Chair Clarida. It’s hard to argue that there was much new information for the market with many of his points a rehash from the October speech. Interestingly, there was no mention of financial conditions, global growth, or recent market volatility which is perhaps a touch hawkish at the margin, as it potentially signals the Fed isn’t hugely concerned about recent developments. Also, Clarida had previously outlined both upside and downside risks to the inflation outlook, but yesterday he dropped his reference to the downside scenario. The flip side however was Clarida’s mention that market- and survey-based measures of inflation expectations had slipped and also that, with an uncertain r-star, the Fed should infer its level from incoming market and economic data. Treasuries appeared fairly nonfussed though with 10-year yields moving as much as +1.8bps higher but quickly snapping back before ending the session close to flat at 3.055%. The USD index gained +0.31%. Later in the session, Chicago Fed President Evans highlighted that inflation is at target and said he favours getting policy back to neutral. The market did not react, but his comments are significant as he will be a voting member of the FOMC in 2019. His most recent vote was a dissent against the rate hike in December 2017.
Staying with the Fed, today the baton passes to Fed Chair Powell when he speaks at the Economic Club of New York at 5pm GMT on “The Federal Reserve’s framework for monitoring financial stability.” Our US economists previously highlighted that they expect Powell to reiterate the Fed’s plan to get back to neutral. However, since Powell has previously emphasized that neutral is highly uncertain, they are also watching for any hints that Powell sees recent market developments and/or slower activity in rate sensitive sectors like housing and capex as evidence that neutral could be lower than previously thought.
This morning in Asia markets are following Wall Street’s lead with Nikkei (+0.96%), Hang Seng (+0.91%), Shanghai Comp (+0.86%) and Kospi (+0.30%) all up with a rally largely driven by technology shares. Elsewhere, futures on S&P 500 (+0.03%) are pointing towards a flat start.
Moving on. Yesterday’s slew of data in the US was unlikely to move the dial for policy makers much at the Fed. The S&P CoreLogic National Home Price Index rose 0.33% mom and 5.15% yoy on a seasonally adjusted basis, roughly in line with expectations. The FHFA purchase only house price index rose +0.2%, the third weakest month since January 2015. Higher interest rates and tax changes continue to weigh on the housing sector. On the other hand, consumer confidence and the labour market continue to look strong, with the Conference Board Consumer Confidence index printing at 135.7 as expected, down 2.2pts but near its multi-decade high. The labour market subindex rose to 34.4, a new cycle high.
In other news, the daily Italy update consisted of another comment from the League suggesting that the deficit could be lowered to the 2.2% to 2.3% range, this time from Armando Siri. Reuters also reported that EU government delegates are today expected to back the EC’s disciplinary move against Italy, however a formal disciplinary proceeding may not begin until February. Also out yesterday was an MNI article suggesting that the ECB might be willing to consider OMT as an option for Italy should spreads come under further pressure. The story did appear to be rightly ignored by the market however, especially considering that OMT is conditional on an ESM programme. We are not close to being there yet, even if our head of research David Folkerts-Landau believes that the ESM and structural reforms will need to eventually be negotiated together in a grand bargain to deal with the Italian problem (see the op-ed here from David).
After a good run, BTPs were slightly weaker yesterday with two-year yields closing +3.3bps higher and 10-year yields +2.0bps. As we go to print Italian daily Corriere Della Sera reported PM Conte as saying that dealing with the EU over the budget wont be easy while adding that Italy will push ahead with reforms as social stability is more important for Italy. Elsewhere, the EC VP Dombrovskis said in an interview with La Stampa that Italy needs a “significant correction” of its budget. Indeed as we’re pressing the send button HB is reporting that the EU will open deficit procedures before Christmas. So the pressure is still high even if the news flow has improved of late.
Over to Brexit, where Prime Minister May continues to try to sell her Brexit Withdrawal Agreement to the public and to lawmakers. The leader of the DUP, Arlene Foster, said yesterday that “as far as I can see, this [deal] is not going through parliament” and the pound dropped -0.73% versus the dollar, as passage looks less and less likely and a hangover from the Trump comments the previous night on it being a better deal for the EU and that it precludes a UK/US free trade deal percolated. Nevertheless, a reminder that we turned bullish on the pound on Monday due to two key factors: first, the Government will allow amendments during the legislation process, and second, Labour has signaled their willingness to work through the amendment channel rather than try to topple the government. Together, these ingredients should enable the ‘soft Brexit’ majority in Parliament to coalesce around a non-disruptive exit plan. Voting on the motion to accept or reject the Brexit deal will start in the House of Commons at 7 p.m. on December 11 but the “Meaningful Vote” debate will start on December 4. There will be five days of 8hrs debate, each led by a different cabinet minister. So we may get an idea of potential amendments from next week.
As far as the day ahead is concerned, as noted earlier the focus for the market is likely to be squarely with Fed Chair Powell’s speech. Away from that we also have the second revision of Q3 GDP in the US where no change from the +3.5% qoq saar estimate is expected. The October advance goods trade balance reading should also be closely watched with the consensus expecting a widening in the deficit to $77bn from $76bn last month. Also due out in the US will be October new home sales and the Richmond Fed manufacturing index print. This morning in Europe it’s quiet with December consumer confidence in Germany and the October M3 money supply reading for the Euro Area the only data due. It is another busy day for ECB speakers however with Coeure, Guindos and Praet all due to speak. The BoE’s Carney will also speak at the Financial Stability Report press conference this afternoon when we will also get the latest annual bank stress test results.
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Dump of ourchain.slack.com #de-central-station March 22 - April 8

(Answering Gary from https://ourchain.slack.com/archives/C3E31N9BP/p1490197255589333) Without anonymity you are giving more power to the existing powelegal structure. Bitcoin was designed to protect wealth from hackers, regulators, and incompetent managers. There are three types of cryptostate based on the level of anonymity. In the publicstate there is no anonymity, your "bodynyms" are associated with your "cryptonyms" for example when photos/video of you or your location are on a network that anyone can access. In the trustedstate this info is trusted to service providers like an ISP or social networks like Slack, Wikipedia, Reddit, etc. In the privatestate your identity is mixed with enough (lawful) users that it is unfeasible for regulators, hackers, and managers to control you. The privatestate is generally theoretical. It is very difficult to know for certain how this info could leak. The Tor network provides privacy from some but not necessarily the most powerful surveillance (or) those running the network, so this may be considered part of the trustedstate (assuming you don't leak a lot of personal info like me) or it could be part of the privatestate. Botnets may provide better anonymity though it isn't very nice. otomplodomo https://ourchain.slack.com/archives/rhoc/p1490110417643667 Doesn't freedom require a foundation of equality? Posted in #rhocMarch 22nd at 3:40 PM (edited) rilly 7:07 PM Any of these cryptostates change the game and offer opportunities from new power structures. Payment processors cannot simply block blockchain transactions in the public/trustedstate but regulators can still outlaw them. 7:11 This is the primary threat that blockchain advocates should be concerned about. They aren't likely to attack the blockchain (yet) they are moving to de-anonymize everyone. As the internet offers a far more efficient way of moving information, and people often (used to) commute only to move information). this gives them a level of control not see in human history. Straigh outa 1984! (edited) rilly 7:23 PM Anonymity is among the most difficult features to have it you also need security. Cryptonomic networks have to provide incentives to being part of mixes probably by issuing tokens to reward those who mix. rilly 7:34 PM I understand many/most laws are generally benevolent and I do not advocate "crypto anarchy" as in enabling markets for (sex) slaves, assassination, etc. Once the genie of a creditclaim market that can produce revolutionary infoGoods such as strong anonymity software, is out of the bottle we might regret this. While I tend to be more concerned about alternatives to "involuntary"/"unrepresentative" taxes, or the crime of outlawing vicimless crimes, I don't really know what I would be doing if I were aware of all the victim-crime. otomplodomo 7:36 PM I consider the freedom to say anything I want publicly,barring "fire" in a crowded theatre, more valuable than the right to say it in private. Sane people don't surveil. Those who do are rarely intelligent enough to understand what they are surveilling. rilly 7:38 PM Thus we need a way for an (autonomous) cryptostate to regulate itself. My solutions are "selective mixing" and the cryptocourt. Taxes are a "necessary" way of funding non-excludable goods like information goods or common goods such as the oceans and atmosphere. 7:42 @otomplodomo yes but I'd say "censorship" is the most important form of speech. We have to be able to filter out 99.99999999999% of what people want us to heasee so that we can focus on what is important. We don't have the right to force others to hear us or to flood a network with messages of what we believe to be important. 7:44 So we really need a system that can promote good ideas to those who need them or who can put them to use. otomplodomo 7:44 PM Censorship can happen between equals? rilly 7:45 PM Just telling people about threats can drive them to self-destruction if they can't do anything about it. 7:47 @otomplodomo This started with the convo about KYC. I suspect you are trying to rationalize this because you have no choice with the type of organization Greg wants to create in Washington. I'm warming to the idea. 7:47 Being a cyborg is difficult. 7:50 But eventually, after more software exists, I think a more appropriate bases for a global currency is one that promotes equality through anonymity. 7:54 I mean, this team requires a large amount of funding. Who is going to give you that without expecting more funding in return? 7:56 KYC is something the powerful require of you. 8:00 They want to extort taxes, enforce their financial oligopolies, etc. They might prevent victim crimes or this might reduce the powewealth going to certain types of criminal, so in that sense it is good, but not revolutionary or as revolutionary as a new economic system. There is another question here of whether yall are going to keep tricking your customers as with the last Synereo fundraiser. jimscarver 1:36 PM The legal requirement for KYC can be achieved by having identity that is provable but not revealed except to the authority in the event that a subpoena is issued for a specific account. An identity proof may be encrypted using a public key of an authority and the private key of the merchant such that the identity is not revealed to anyone except when required by law.Strong pseudo anonymous identity may be developed from within your webs of trust revealing only the necessary factors without specific personally identifying information such as having a mailing address or citizenship in a certain country, being over 21 years old, owning a home, not being a robot, etc.For any kind of democratic process unique identity must also be established which is a much more difficult process. Device, location, biometric, and state identification can be used to determine a probability of uniqueness in a set of participants without revealing the specific attributes of the individuals to others using homeomorthic encryption techniques. rilly 7:02 PM @jimscarver The debate about why it is right and proper to have central authorities deciding who is innocent or guilty, seems a bit off-topic for the "de-central-station". This channel is for those who believe in decentralized networks. An interesting subject none the less, I created #a-noobs-law-firm for discussions such as these. (edited) jimscarver 8:26 PM perhaps you would like to hold a #de-central-station panel @rilly as we started doing to replace the synereo fireside chat rilly 10:36 PM What would this require of me? Tune in to the Synereo/Rchain decentral station anytime you want at https://www.reddit.com/ethereo/ reddit Synereo/RChain evaluations and alternatives • ethereo Synereo/RChain is the latest of the cryptocurrency to be sold before they abandoned their pre-sale commitments. With proof-of-work becoming... (edited) jimscarver 12:07 PM @rilly choose a topic/theme, get well known panelists if possible, schedule a time, go live. I am not a big reddit user. Looks like mostly fake news :stuck_out_tongue: rilly 6:51 PM The way yall are collaborating on Slack and with videos presents many obstacles both to participation and research. At reddit I can click on vbuterin and see all his comments. I can't click Greg's name and see his contributions on Slack. I can register one name and am able to contribute to any number of subreddits (some require more karma, /synereo is particularly annoying in that they seem to be automatically shadowbanning any thread that mentions rchain). The worst part about Slack is that you have to register just to read any channel. Slack does have some advantages, no captchas and no shadowbans. Video is the worst. I can read much faster than people can talk. If I can search it I can find answers on my own. rilly 6:57 PM Ethereum's success has a lot to do with how Buterin presents his research. There were many times when I would search for an answer and find it in an article by Buterin in Bitcoin Magazine. I'm not motivated to listen to videos or live streams unless I am the one asking questions. rilly 7:04 PM In that case it won't be so useful to others. One of my aspirations is to create one social network that has all the best features of a wiki, reddit, slack, stackexchange (Q&A), and twitter. Second it should be "uncensored" yet have filters the reader controls. So the same page looks different depending on the applied filters. And it should all be P2P so that you control what is being stored on your computer so it can forget things that no one chooses to store. jimscarver 12:44 PM Try listening to videos at 1.5 speed. That helps some. Doing something else at the same time can help. Summaries of video with time markers for topics as we had done for synereo in the before time was really helpful. I have similar aspirations, perhaps we can cooperate. I seek to integrate the best of the best decentralized tools in cooperation with their open source development communities and communities wanting those capabilities. If we can divvy effort in this area we might accomplish something worthwhile together. I see dokie.li movim.eu and sovrin.org represent technologies worth bringing together. I've been working with CoCloud.coop, GiveETH.io and DivvyDAO.org but have yet to gain traction in cooperation. https://nl.movim.eu/?community/news.movim.eu/cocloud-cooperative (edited) 12:49 https://divvyu.consider.it/yes-i-want-to-attend-a-study-group-building-a-decentralized-altruistic-organization?results=true (edited) 12:52 perhaps you might hold a #de-central-station panel related to your aspirations @rilly jimscarver 1:02 PM

de-central-station log

Document from Google Drive Click to open in Google Drive jimscarver 10:25 PM https://qz.com/940876/sell-businesses-to-their-users-instead-of-investors/ Quartz Commentary Users should be able to own the businesses they love instead of investors Here’s a story you hear on repeat from apparently successful founders: Their start-up had a great idea, and users thought it was great too, so it became worth something. Investors offered fast money in exchange for chunks of ownership. The founders liked a lot of the investors and valued their advice. Some became real-life friends. But before long, the founders discovered that their companies were no longer built around that original idea anymore, or even around the users it could serve. The Show more… 10:27 https://d1ueyc5nx1it61.cloudfront.net/b631199216059142146.jpg (70KB) jimscarver 10:40 PM Is that what you hjave in mind @rilly ? mariada 1:18 PM joined #de-central-station. Also, @optictopic joined. rilly 9:37 PM @jimscarver Oh for me! If only you would spend so much time asking or commenting on what I said. There is no decentralized token issuance when a small group of issuers decide who gets what and this is finalized forever. All current crypto/fiat currencies are cronycurrencies. Even when anyone holding tokens get to decide who gets more (as with Steem or Dash) you have the problem that it is finalized forever so in order for me to obtian the creditclaim of the contribution that I want I have to get the contributor's consent AND either burn the token or (better) put it into a DAO that backs the creditclaim with the original token (Steem/Dash/etc) that was issued for the contribution. (edited) rilly 9:48 PM But more to your point, I'm revolting against the ethereo project by re-branding "ethereo" as a project to use ETH for clones of the synereo/rchain software. Sheeple are just too brainwashed to coordinate the issuance of tokens for their own benefit and ETH has good distribution, recognition, etc. For those who don't know yet the ethereo project is at https://www.reddit.com/ethereo/ reddit Synereo/RChain evaluations and alternatives • ethereo Synereo/RChain is the latest of the cryptocurrency to be sold before they abandoned their pre-sale commitments. With proof-of-work becoming... jimscarver 11:08 PM Why would RChain want to be subject to the health of the ETH which might dump tomorrow. Why should ETH holders be given a stake in RChain? Why buy tokens having a different purpose when you can create tokens specifically to support RChain for free. Why not kill two birds with one stone and fund using our own token so buyers have a stake in rchain. jimscarver 11:18 PM I am not much of a reddit user and won't answer the miss information you put there. How do you benifit from taking so much effort degrading Synereo and RChain. I try to be a neutral reporter of facts, not presumtion of evil. https://medium.com/@jimscarverchain-best-synereo-scenario-it-may-be-a-very-good-time-to-buy-amps-f1ce6e446e11 (edited) rilly 11:19 PM "Why would RChain want to be subject to the health of the ETH which might dump tomorrow." I'm not talking about RChain devs maintaining ethereo, it is a fork. Remember Litecoin was not the first blockchain to use scrypt for PoW, nor was Monero the first Cryptonote blockchain. (edited) 11:20 They didn't invent these things they rebranded them for their own blockchain. 11:25 "Why should ETH holders be given a stake in RChain?" Oh they shouldn't. It would be so selfish of everyone to buy ETH just because it is so much more popular and scarce and then use this to make an rchain sidechain. Only people with devious profit motives would even consider something so sinister. LOL (edited) jimscarver 11:27 PM Ethereum will be proof of stake, using greg's mathematics. what is ethereo? An ethereum fork using RHOC natively? I missed something. 11:27 isa a new blockchain that runs on anything? 11:29 rchain may run on other currencies someday but there are good arguments against it. 11:29 which greg may have a mathematical solution to,,, rilly 11:29 PM We should let the people who lost all that funding to Synereo LTD issue a billion more with full power to void any tokens they want and with no connection or obligation to limit the future supply of any tokens used on the first "rchain". It is our moral duty to buy an IOU for we know not what to reward them for all their promised work. (edited) jimscarver 11:31 PM Synereo is doing ok and so is rchain, nobody lost anything yet. 11:32 both are being built though rchain got the short end of the stick. 11:36 we ought to be planning for the decentralization of society here technology agnostic. The cryptocredit may be relevant to that, but we have no consensus on that yet. rilly 11:37 PM "Why buy tokens having a different purpose when you can create tokens specifically to support RChain for free." That's really my point. But who decides who is supporting RChain? The WoC decentralizes the decision making process and allows the market to valuate every contribution independently forever. Ethereo is just a plan B, assuming that we can't convince or explain why the WoC is essential for decentralized issuance without PoW. rilly 11:42 PM "Ethereum will be proof of stake, using greg's mathematics. what is ethereo? An ethereum fork using RHOC natively? I missed something." Oh no. Ethereo is a clone or a set of patches applied to the Synereo and Rchain software, probably using the latest versions. 11:43 We can run synereo and rchain clones, as sidechains/mergchains of Ethereum. https://www.reddit.com/ethereo/comments/5l7z61/mergechains_are_when_one_or_more_blockchains_are/ reddit Mergechains are when one or more blockchains are sidechains of each other • ethereo (Forgive me if there is already a word for this.) ---- Defining sidechains and mergechains The basic definition of a sidechain is a... (edited) rilly 11:49 PM "Synereo is doing ok and so is rchain, nobody lost anything yet." Uhh tell that to all the unnecessariates who bought AMP before it tanked! Synereo is apparently getting away with all the crowdfunds that were intended for Rchain. Greg is cool with that. You are cool with it. All these AMP holders here, who were trying to invest in Rchain apparently haven't even figured this out yet. Yall think you can just bail yourselves out by issuing more tokens! LOL rilly 11:58 PM "both are being built though rchain got the short end of the stick." Why has Greg not joined the movement to recover the crowdfunds from Synereo LTD? How much credit should Greg and others lose for this colossal failure? 11:59 Why instead do you accept that the people who lost all this money should be the ones to issue the new tokens? Is this not reminiscent of what we see with corrupt governments and central banks? 12:00 Those who fail are given more opportunities and entrusted with more power and wealth. rilly 12:12 AM So getting back to what ethereo is. It is the Rchain/Synereo software that you guys write, on a blockchain that we create, using an ETH IOU as the token for staking deposits and manditory fees. It would be similar to how Rootstock is attempting to be a sidechain of Bitcoin that uses BTC instead of ETH to run the Ethereum virtual machine. The difference is that Bitcoin cannot hold BTC in a contract to back IOUs on Rootstock so they have to use a multisig wallet and it is therefore centralized and insecure. Ethereum however can validate transactions on other blockchains as BTC Relay will do with Bitcoin. (edited) 12:17 Therefore we can make Ethereum and an rchain clone a "mergechain" (defined in the last reddit link I posted). That means the ETH IOUs on the rchain clone are fully backed by ETH on Ethereum and held in a contract that can redeem the ETH IOUs for ETH without trusting a multisig or third party. 12:18 I will call this rchain clone "ethchain" from now on. rilly 12:24 AM So assuming we create ethchain, what would be a more attractive investment, RHOC/Rev or ETH? Given that the chairman of the Central Bank of RHOC has already failed miserably to properly allocate and distribute crowdfunds and AMP for the benefit of AMP holders. Given that there is no limit to the supply rate of Rev and all questions about this are met with hand waving, wishful thinking, and deceptive marketing propoganda. (edited) jimscarver 12:30 AM I do not see much improvement over what we are doing now. ETH IOU's are cool and perhaps we should develope that concept. Now, USD is used for the bounty amount for work in the coop paid optionally in dollars or RHOC at the current market value. There may be taks later with fixed RHOC bounties. Sponsored divvy tokens function like a RHOC IOU, redeemable for RHOC and/or USD etc. on a metiticridous manner by consensus of the team or as specified by the sponsor. Self assignment of tasks leads to chaos without a cooperative effort with the team and workers both need to have the initiative to do a task, but accepted by the team to do the task. There are no little kings here and cooperation means not getting your own way on many things. (edited) jimscarver 12:38 AM Everybody will never agree on the same system. Teams must be autonomous and reward bounties by thier concent rather than be enslaved to a system they disapprove of.WE should find a team to experiment with ETHIOU. It's a great exercise for a divvy study group. (edited) rilly 12:46 AM "WE should find a team to experiment with ETHIOU. It's a great exercise for a divvy study group." Well okay but ethchain is not just ETH IOUs on Rchain it is ETH IOUs as the sole currency for PoS deposits, mandatory fees on ethchain AND the attention economy features (using the synereo mergechain). (edited) 12:51 "Self assignment of tasks leads to chaos without a cooperative effort with the team and workers both need to have the initiative to do a task, but accepted by the team to do the task. There are no little kings here and cooperation means not getting your own way on many things." Hmmm curious to read what rilly seems to have been proposing. The self-assignment of tasks! Rilly has come to make ye all little kings with your own little money printing machines! 12:54 In all seriousness I do see value in colaberation to avoid redundant and incompatible work. rilly 1:01 AM I try to do this by bringing various projects together to discuss some of their fundamental assumptions. A good example of the type of research I would like to fund would be this debate between Jae Kwon of Cosmos/Tendermint and Dan Larimar of BitShares/Steem/Graphine. https://github.com/cosmos/cosmos/issues/43#issuecomment-275806560 GitHub [Whitepaper] Incorrect claims around BitShares · Issue #43 · cosmos/cosmos Hello there, I recently went through the cosmos whitepaper and am quite impressed by your work. Adding collateral to block producers is a great idea to keep them honest. This is certainly an improv... 1:05 I would fund this by bidding on the creditclaim. This should work like Changetip but I would bid a lot more than 50 freaking cents. For more valuable creditclaims I could facilitate a small crowdfund using Weifund. rilly 1:14 AM Kinda like being the judge in a sport where I could bid higher for good arguments on important points. This is one part of the peer to peer review and funding (P2P RAF). The debaters or contributors could trade their creditclaims for their debate contributions, while they are debating. Score points for each other, re-formulate their arguments if they are persuaded to change and produce collaborative works whose creditclaims would have greater value because it represents agreement of those who otherwise have conflicting interests. (edited) jimscarver 1:23 AM We take one step at a time doing proofs of concepts of use cases independently but interoperably. The devil is in the details and technology is evolving rapidly. I suggest we employ Agile principles, starting with one work group rewarding themselves and building one use case at a time. (edited) rilly 1:31 AM Okay I suggest to create bureaucratic work group to organize developers and cryptocurrency speculators to discuss the conditions under which we will agree to hold RHOC or promote Rchain vs a token/blockchain that we control. (edited) jimscarver 1:36 AM I would not concent to be on such a team. We might try a circular leadership model where we are leaderless but with strong leadership. Everyone leads their own part but cooperates with the team. A team you pick issues rewards the way you want. https://medium.com/enspiral-tales/beyond-dreamers-vs-doers-full-circle-leadership-869557da1248#.7b9nl9wee Medium Beyond “Dreamers vs Doers” — Full Circle Leadership Operational leadership is often under-appreciated compared with visionary leadership, or not even understood as leadership. I used to get… Reading time 12 min read (337KB) Jan 15th, 2016 at 9:44 PM rilly 1:41 AM "I would not concent to be on such a team." (Spell check doesn't work very well on Slack.) Jim I'm not sure you can be removed from the team once you've been added, I'll have to check back with corporate and get back to you on that. Don't worry we will get this straightened out for you. rilly 1:49 AM "We might try a circular leadership model where we are leaderless but with strong leadership." Excellent idea! Okay so what do we call our team? We need something catchy but a bit stealthy so they don't know we the real revolutionaries. https://www.youtube.com/watch?v=ZqFJJmfWNsg
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FULL TEXT: Jared Kusher's prepared statement to the Senate

FULL TEXT: Jared Kusher's prepared statement to the Senate
by via POLITICO - TOP Stories
URL: http://ift.tt/2uZ8Equ
As prepared for delivery.
STATEMENT OF JARED C. KUSHNER TO CONGRESSIONAL COMMITTEES
July 24, 2017
I am voluntarily providing this statement, submitting documents, and sitting for
interviews in order to shed light on issues that have been raised about my role in the Trump for President Campaign and during the transition period.
I am not a person who has sought the spotlight. First in my business and now in public
service, I have worked on achieving goals, and have left it to others to work on media and public perception. Because there has been a great deal of conjecture, speculation, and inaccurate information about me, I am grateful for the opportunity to set the record straight.
My Role in the Trump for President Campaign
Before joining the administration, I worked in the private sector, building and managing
companies. My experience was in business, not politics, and it was not my initial intent to play a large role in my father-in-law's campaign when he decided to run for President. However, as the campaign progressed, I was called on to assist with various tasks and aspects of the campaign, and took on more and more responsibility.
Over the course of the primaries and general election campaign, my role continued to
evolve. I ultimately worked with the finance, scheduling, communications, speechwriting,
polling, data and digital teams, as well as becoming a point of contact for foreign government
officials.
All of these were tasks that I had never performed on a campaign previously. When I was
faced with a new challenge, I would reach out to contacts, ask advice, find the right person to
manage the specific challenge, and work with that person to develop and execute a plan of
action. I was lucky to work with some incredibly talented people along the way, all of whom
made significant contributions toward the campaign’s ultimate success. Our nimble culture
allowed us to adjust to the ever-changing circumstances and make changes on the fly as the
situation warranted. I share this information because these actions should be viewed through the lens of a fast-paced campaign with thousands of meetings and interactions, some of which were impactful and memorable and many of which were not.
It is also important to note that a campaign’s success starts with its message and its
messenger. Donald Trump had the right vision for America and delivered his message perfectly.
The results speak for themselves. Not only did President Trump defeat sixteen skilled and
experienced primary opponents and win the presidency; he did so spending a fraction of what his opponent spent in the general election. He outworked his opponent and ran one of the best campaigns in history using both modern technology and traditional methods to bring his message to the American people.
Campaign Contacts with Foreign Persons
When it became apparent that my father-in-law was going to be the Republican nominee
for President, as normally happens, a number of officials from foreign countries attempted to
reach out to the campaign. My father-in-law asked me to be a point of contact with these foreign countries. These were not contacts that I initiated, but, over the course of the campaign, I had incoming contacts with people from approximately 15 countries. To put these requests in context, I must have received thousands of calls, letters and emails from people looking to talk or meet on a variety of issues and topics, including hundreds from outside the United States. While I could not be responsive to everyone, I tried to be respectful of any foreign government contacts with whom it would be important to maintain an ongoing, productive working relationship were the candidate to prevail. To that end, I called on a variety of people with deep experience, such as Dr. Henry Kissinger, for advice on policy for the candidate, which countries/representatives with which the campaign should engage, and what messaging would resonate. In addition, it was typical for me to receive 200 or more emails a day during the campaign. I did not have the time to read every one, especially long emails from unknown senders or email chains to which I was added at some later point in the exchange.
With respect to my contacts with Russia or Russian representatives during the campaign,
there were hardly any. The first that I can recall was at the Mayflower Hotel in Washington, D.C. in April 2016. This was when then candidate Trump was delivering a major foreign policy
speech. Doing the event and speech had been my idea, and I oversaw its execution. I arrived at] the hotel early to make sure all logistics were in order. After that, I stopped into the reception to thank the host of the event, Dimitri Simes, the publisher of the bi-monthly foreign policy magazine, The National Interest, who had done a great job putting everything together. Mr. Simes and his group had created the guest list and extended the invitations for the event. He introduced me to several guests, among them four ambassadors, including Russian Ambassador Sergey Kislyak. With all the ambassadors, including Mr. Kislyak, we shook hands, exchanged brief pleasantries and I thanked them for attending the event and said I hoped they would like candidate Trump’s speech and his ideas for a fresh approach to America’s foreign policy. The ambassadors also expressed interest in creating a positive relationship should we win the election. Each exchange lasted less than a minute; some gave me their business cards and invited me to lunch at their embassies. I never took them up on any of these invitations and that was the extent of the interactions.
Reuters news service has reported that I had two calls with Ambassador Kislyak at some
time between April and November of 2016. While I participated in thousands of calls during this period, I do not recall any such calls with the Russian Ambassador. We have reviewed the phone records available to us and have not been able to identify any calls to any number we know to be associated with Ambassador Kislyak and I am highly skeptical these calls took place. A comprehensive review of my land line and cell phone records from the time does not reveal those calls. I had no ongoing relationship with the Ambassador before the election, and had limited knowledge about him then. In fact, on November 9, the day after the election, I could not even remember the name of the Russian Ambassador. When the campaign received an email purporting to be an official note of congratulations from President Putin, I was asked how we
could verify it was real. To do so I thought the best way would be to ask the only contact I
recalled meeting from the Russian government, which was the Ambassador I had met months
earlier, so I sent an email asking Mr. Simes, “What is the name of the Russian ambassador?”
Through my lawyer, I have asked Reuters to provide the dates on which the calls supposedly
occurred or the phone number at which I supposedly reached, or was reached by, Ambassador Kislyak. The journalist refused to provide any corroborating evidence that they occurred. The only other Russian contact during the campaign is one I did not recall at all until I was reviewing documents and emails in response to congressional requests for information. In June 2016, my brother-in-law, Donald Trump Jr. asked if I was free to stop by a meeting on June 9 at 3:00 p.m. The campaign was headquartered in the same building as his office in Trump Tower, and it was common for each of us to swing by the other’s meetings when requested. He eventually sent me his own email changing the time of the meeting to 4:00 p.m. That email was on top of a long back and forth that I did not read at the time. As I did with most emails when I was working remotely, I quickly reviewed on my iPhone the relevant message that the meeting
would occur at 4:00 PM at his office. Documents confirm my memory that this was calendared
as "Meeting: Don Jr.| Jared Kushner." No one else was mentioned.
5 I arrived at the meeting a little late. When I got there, the person who has since been
identified as a Russian attorney was talking about the issue of a ban on U.S. adoptions of Russian
children. I had no idea why that topic was being raised and quickly determined that my time was
not well-spent at this meeting. Reviewing emails recently confirmed my memory that the
meeting was a waste of our time and that, in looking for a polite way to leave and get back to my
work, I actually emailed an assistant from the meeting after I had been there for ten or so minutes
and wrote "Can u pls call me on my cell? Need excuse to get out of meeting." I had not met the
attorney before the meeting nor spoken with her since. I thought nothing more of this short
meeting until it came to my attention recently. I did not read or recall this email exchange before
it was shown to me by my lawyers when reviewing documents for submission to the committees.
No part of the meeting I attended included anything about the campaign, there was no follow up
to the meeting that I am aware of, I do not recall how many people were there (or their names),
and I have no knowledge of any documents being offered or accepted. Finally, after seeing the
email, I disclosed this meeting prior to it being reported in the press on a supplement to my
security clearance form, even if that was not required as meeting the definitions of the form.
There was one more possible contact that I will note. On October 30, 2016, I received a
random email from the screenname "Guccifer400." This email, which I interpreted as a hoax,
was an extortion attempt and threatened to reveal candidate Trump's tax returns and demanded
that we send him 52 bitcoins in exchange for not publishing that information. I brought the email
to the attention of a U.S. Secret Service agent on the plane we were all travelling on and asked
what he thought. He advised me to ignore it and not to reply -- which is what I did. The sender
never contacted me again.
6
To the best of my recollection, these were the full extent of contacts I had during the
campaign with persons who were or appeared to potentially be representatives of the Russian
government.
Transition Contacts with Foreign Persons
The transition period after the election was even more active than the campaign. Starting
on election night, we began to receive an incredible volume of messages and invitations from
well-wishers in the United States and abroad. Dozens of messages came from foreign officials
seeking to set up foreign leader calls and create lines of communication and relationships with
what would be the new administration. During this period, I recall having over fifty contacts with
people from over fifteen countries. Two of those meetings were with Russians, neither of which I
solicited.
On November 16, 2016, my assistant received a request for a meeting from the Russian
Ambassador. As I mentioned before, previous to receiving this request, I could not even recall
the Russian Ambassador's name, and had to ask for the name of the individual I had seen at the
Mayflower Hotel almost seven months earlier. In addition, far from being urgent, that meeting
was not set up for two weeks -- on December 1. The meeting occurred in Trump Tower, where
we had our transition office, and lasted twenty- thirty minutes. Lt. General Michael Flynn (Ret.),
who became the President's National Security Advisor, also attended. During the meeting, after
pleasantries were exchanged, as I had done in many of the meetings I had and would have with
foreign officials, I stated our desire for a fresh start in relations. Also, as I had done in other
meetings with foreign officials, I asked Ambassador Kislyak if he would identify the best person
(whether the Ambassador or someone else) with whom to have direct discussions and who had
contact with his President. The fact that I was asking about ways to start a dialogue after
7
Election Day should of course be viewed as strong evidence that I was not aware of one that
existed before Election Day.
The Ambassador expressed similar sentiments about relations, and then said he especially
wanted to address U.S. policy in Syria, and that he wanted to convey information from what he
called his "generals." He said he wanted to provide information that would help inform the new
administration. He said the generals could not easily come to the U.S. to convey this information
and he asked if there was a secure line in the transition office to conduct a conversation. General
Flynn or I explained that there were no such lines. I believed developing a thoughtful approach
on Syria was a very high priority given the ongoing humanitarian crisis, and I asked if they had
an existing communications channel at his embassy we could use where they would be
comfortable transmitting the information they wanted to relay to General Flynn. The
Ambassador said that would not be possible and so we all agreed that we would receive this
information after the Inauguration. Nothing else occurred. I did not suggest a "secret back
channel." I did not suggest an on-going secret form of communication for then or for when the
administration took office. I did not raise the possibility of using the embassy or any other
Russian facility for any purpose other than this one possible conversation in the transition period.
We did not discuss sanctions.
Approximately a week later, on December 6, the Embassy asked if I could meet with the
Ambassador on December 7. I declined. They then asked if I could meet on December 6; I
declined again. They then asked when the earliest was that I could meet. I declined these requests
because I was working on many other responsibilities for the transition. He asked if he could
meet my assistant instead and, to avoid offending the Ambassador, I agreed. He did so on
December 12. My assistant reported that the Ambassador had requested that I meet with a person
8
named Sergey Gorkov who he said was a banker and someone with a direct line to the Russian
President who could give insight into how Putin was viewing the new administration and best
ways to work together. I agreed to meet Mr. Gorkov because the Ambassador has been so
insistent, said he had a direct relationship with the President, and because Mr. Gorkov was only
in New York for a couple days. I made room on my schedule for the meeting that occurred the
next day, on December 13.
The meeting with Mr. Gorkov lasted twenty to twenty-five minutes. He introduced
himself and gave me two gifts -- one was a piece of art from Nvgorod, the village where my
grandparents were from in Belarus, and the other was a bag of dirt from that same village. (Any
notion that I tried to conceal this meeting or that I took it thinking it was in my capacity as a
businessman is false. In fact, I gave my assistant these gifts to formally register them with the
transition office). After that, he told me a little about his bank and made some statements about
the Russian economy. He said that he was friendly with President Putin, expressed
disappointment with U.S.-Russia relations under President Obama and hopes for a better
relationship in the future. As I did at the meeting with Ambassador Kislyak, I expressed the same
sentiments I had with other foreign officials I met. There were no specific policies discussed. We
had no discussion about the sanctions imposed by the Obama Administration. At no time was
there any discussion about my companies, business transactions, real estate projects, loans,
banking arrangements or any private business of any kind. At the end of the short meeting, we
thanked each other and I went on to other meetings. I did not know or have any contact with Mr.
Gorkov before that meeting, and I have had no reason to connect with him since.
9
To the best of my recollection, these were the only two contacts I had during the
transition with persons who were or appeared to potentially be representatives of the Russian
government.
Disclosure of Contacts on My Security Clearance Form
There has been a good deal of misinformation reported about my SF-86 form. As my
attorneys and I have previously explained, my SF-86 application was prematurely submitted due
to a miscommunication and initially did not list any contacts (not just with Russians) with
foreign government officials. Here are some facts about that form and the efforts I have made to
supplement it.
In the week before the Inauguration, amid the scramble of finalizing the unwinding of my
involvement from my company, moving my family to Washington, completing the paper work to
divest assets and resign from my outside positions and complete my security and financial
disclosure forms, people at my New York office were helping me find the information, organize
it, review it and put it into the electronic form. They sent an email to my assistant in Washington,
communicating that the changes to one particular section were complete; my assistant interpreted
that message as meaning that the entire form was completed. At that point, the form was a rough
draft and still had many omissions including not listing any foreign government contacts and
even omitted the address of my father-in-law (which was obviously well known). Because of this
miscommunication, my assistant submitted the draft on January 18, 2017.
That evening, when we realized the form had been submitted prematurely, we informed
the transition team that we needed to make changes and additions to the form. The very next
day, January 19, 2017, we submitted supplemental information to the transition, which
confirmed receipt and said they would immediately transmit it to the FBI. The supplement
10
disclosed that I had "numerous contacts with foreign officials" and that we were going through
my records to provide an accurate and complete list. I provided a list of those contacts in the
normal course, before my background investigation interview and prior to any inquiries or media
reports about my form.
It has been reported that my submission omitted only contacts with Russians. That is not
the case. In the accidental early submission of the form, all foreign contacts were omitted. The
supplemental information later disclosed over one hundred contacts from more than twenty
countries that might be responsive to the questions on the form. These included meetings with
individuals such as Jordan’s King Abdullah II, Israel’s Prime Minister Bibi Netanyahu, Mexico’s
Secretary of Foreign Affairs, Luis Videgaray Caso and many more. All of these had been left off
before.
Over the last six months, I have made every effort to provide the FBI with whatever
information is needed to investigate my background. In addition, my attorneys have explained
that the security clearance process is one in which supplements are expected and invited. The
form itself instructs that, during the interview, the information in the document can be
"update[d], clarif[ied], and explain[ed]" as part of the security clearance process. A good
example is the June 9 meeting. For reasons that should be clear from the explanation of that
meeting I have provided, I did not remember the meeting and certainly did not remember it as
one with anyone who had to be included on an SF-86. When documents reviewed for production
in connection with committee requests reminded me that meeting had occurred, and because of
the language in the email chain that I then read for the first time, I included that meeting on a
supplement. I did so even though my attorneys were unable to conclude that the Russian lawyer
was a representative of any foreign country and thus fell outside the scope of the form. This
11
supplemental information was also provided voluntarily, well prior to any media inquiries,
reporting or request for this information, and it was done soon after I was reminded of the
meeting.
As I have said from the very first media inquiry, I am happy to share information with the
investigating bodies. I have shown today that I am willing to do so and will continue to cooperate
as I have nothing to hide. As I indicated, I know there has been a great deal of speculation and
conjecture about my contacts with any officials or people from Russia. I have disclosed these
contacts and described them as fully as I can recall. The record and documents I am providing
will show that I had perhaps four contacts with Russian representatives out of thousands during
the campaign and transition, none of which were impactful in any way to the election or
particularly memorable. I am very grateful for the opportunity to set the record straight. I also
have tried to provide context for my role in the campaign, and I am proud of the candidate that
we supported, of the campaign that we ran, and the victory that we achieved.
It has been my practice not to appear in the media or leak information in my own defense.
I have tried to focus on the important work at hand and serve this President and this country to
the best of my abilities. I hope that through my answers to questions, written statements and
documents I have now been able to demonstrate the entirety of my limited contacts with Russian
representatives during the campaign and transition. I did not collude, nor know of anyone else
in the campaign who colluded, with any foreign government. I had no improper contacts. I
have not relied on Russian funds to finance my business activities in the private sector. I
have tried to be fully transparent with regard to the filing of my SF-86 form, above and
beyond what is required. Hopefully, this puts these matters to rest.
David Kihara
Cell: 571-329-3568
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‘I Did Not Collude.’ Read Jared Kushner’s Statement to Congress

‘I Did Not Collude.’ Read Jared Kushner’s Statement to Congress
by Maya Rhodan via TIME
URL: http://ift.tt/2uPyIEd
White House advisor and President Donald Trump’s son-in-law Jared Kushner has denied any and all collusion with the Russian government during the 2016 campaign ahead of a closed-door meeting with the Senate Intelligence Committee scheduled for Monday.
Several Trump associates are set to appear before Congress as various committees continue their investigation into Russian meddling in the 2016 election.
“I did not collude, nor know of anyone else in the campaign who colluded, with any foreign government,” Kushner said in a prepared statement released ahead of Monday’s meeting.
Read Kushner’s full statement below. All bolded text is included in the original statement.
STATEMENT OF JARED C. KUSHNER TO CONGRESSIONAL COMMITTEES
July 24, 2017
I am voluntarily providing this statement, submitting documents, and sitting for interviews in order to shed light on issues that have been raised about my role in the Trump for President Campaign and during the transition period.I am not a person who has sought the spotlight. First in my business and now in public service, I have worked on achieving goals, and have left it to others to work on media and public perception. Because there has been a great deal of conjecture, speculation, and inaccurate information about me, I am grateful for the opportunity to set the record straight.My Role in the Trump for President CampaignBefore joining the administration, I worked in the private sector, building and managing companies. My experience was in business, not politics, and it was not my initial intent to play a large role in my father-in-law’s campaign when he decided to run for President. However, as the campaign progressed, I was called on to assist with various tasks and aspects of the campaign, and took on more and more responsibility.Over the course of the primaries and general election campaign, my role continued to evolve. I ultimately worked with the finance, scheduling, communications, speechwriting, polling, data and digital teams, as well as becoming a point of contact for foreign government officials.All of these were tasks that I had never performed on a campaign previously. When I was faced with a new challenge, I would reach out to contacts, ask advice, find the right person to manage the specific challenge, and work with that person to develop and execute a plan of action. I was lucky to work with some incredibly talented people along the way, all of whom made significant contributions toward the campaign’s ultimate success. Our nimble culture allowed us to adjust to the ever-changing circumstances and make changes on the fly as the situation warranted. I share this information because these actions should be viewed through the lens of a fast-paced campaign with thousands of meetings and interactions, some of which were impactful and memorable and many of which were not.It is also important to note that a campaign’s success starts with its message and its messenger. Donald Trump had the right vision for America and delivered his message perfectly. The results speak for themselves. Not only did President Trump defeat sixteen skilled and experienced primary opponents and win the presidency; he did so spending a fraction of what his opponent spent in the general election. He outworked his opponent and ran one of the best campaigns in history using both modern technology and traditional methods to bring his message to the American people.Campaign Contacts with Foreign PersonsWhen it became apparent that my father-in-law was going to be the Republican nominee for President, as normally happens, a number of officials from foreign countries attempted to reach out to the campaign. My father-in-law asked me to be a point of contact with these foreign countries. These were not contacts that I initiated, but, over the course of the campaign, I had incoming contacts with people from approximately 15 countries. To put these requests in context, I must have received thousands of calls, letters and emails from people looking to talk or meet on a variety of issues and topics, including hundreds from outside the United States. While I could not be responsive to everyone, I tried to be respectful of any foreign government contacts with whom it would be important to maintain an ongoing, productive working relationship were the candidate to prevail. To that end, I called on a variety of people with deep experience, such as Dr. Henry Kissinger, for advice on policy for the candidate, which countries/representatives with which the campaign should engage, and what messaging would resonate. In addition, it was typical for me to receive 200 or more emails a day during the campaign. I did not have the time to read every one, especially long emails from unknown senders or email chains to which I was added at some later point in the exchange.With respect to my contacts with Russia or Russian representatives during the campaign, there were hardly any. The first that I can recall was at the Mayflower Hotel in Washington, D.C. in April 2016. This was when then candidate Trump was delivering a major foreign policy speech. Doing the event and speech had been my idea, and I oversaw its execution. I arrived at the hotel early to make sure all logistics were in order. After that, I stopped into the reception to thank the host of the event, Dimitri Simes, the publisher of the bi-monthly foreign policy magazine, The National Interest, who had done a great job putting everything together. Mr. Simes and his group had created the guest list and extended the invitations for the event. He introduced me to several guests, among them four ambassadors, including Russian Ambassador Sergey Kislyak. With all the ambassadors, including Mr. Kislyak, we shook hands, exchanged brief pleasantries and I thanked them for attending the event and said I hoped they would like candidate Trump’s speech and his ideas for a fresh approach to America’s foreign policy. The ambassadors also expressed interest in creating a positive relationship should we win the election. Each exchange lasted less than a minute; some gave me their business cards and invited me to lunch at their embassies. I never took them up on any of these invitations and that was the extent of the interactions.Reuters news service has reported that I had two calls with Ambassador Kislyak at some time between April and November of 2016. While I participated in thousands of calls during this period, I do not recall any such calls with the Russian Ambassador. We have reviewed the phone records available to us and have not been able to identify any calls to any number we know to be associated with Ambassador Kislyak and I am highly skeptical these calls took place. A comprehensive review of my land line and cell phone records from the time does not reveal those calls. I had no ongoing relationship with the Ambassador before the election, and had limited knowledge about him then. In fact, on November 9, the day after the election, I could not even remember the name of the Russian Ambassador. When the campaign received an email purporting to be an official note of congratulations from President Putin, I was asked how we could verify it was real. To do so I thought the best way would be to ask the only contact I recalled meeting from the Russian government, which was the Ambassador I had met months earlier, so I sent an email asking Mr. Simes, “What is the name of the Russian ambassador?” Through my lawyer, I have asked Reuters to provide the dates on which the calls supposedly occurred or the phone number at which I supposedly reached, or was reached by, Ambassador Kislyak. The journalist refused to provide any corroborating evidence that they occurred.The only other Russian contact during the campaign is one I did not recall at all until I was reviewing documents and emails in response to congressional requests for information. In June 2016, my brother-in-law, Donald Trump Jr. asked if I was free to stop by a meeting on June 9 at 3:00 p.m. The campaign was headquartered in the same building as his office in Trump Tower, and it was common for each of us to swing by the other’s meetings when requested. He eventually sent me his own email changing the time of the meeting to 4:00 p.m. That email was on top of a long back and forth that I did not read at the time. As I did with most emails when I was working remotely, I quickly reviewed on my iPhone the relevant message that the meeting would occur at 4:00 PM at his office. Documents confirm my memory that this was calendared as “Meeting: Don Jr.| Jared Kushner.” No one else was mentioned.I arrived at the meeting a little late. When I got there, the person who has since been identified as a Russian attorney was talking about the issue of a ban on U.S. adoptions of Russian children. I had no idea why that topic was being raised and quickly determined that my time was not well-spent at this meeting. Reviewing emails recently confirmed my memory that the meeting was a waste of our time and that, in looking for a polite way to leave and get back to my work, I actually emailed an assistant from the meeting after I had been there for ten or so minutes and wrote “Can u pls call me on my cell? Need excuse to get out of meeting.” I had not met the attorney before the meeting nor spoken with her since. I thought nothing more of this short meeting until it came to my attention recently. I did not read or recall this email exchange before it was shown to me by my lawyers when reviewing documents for submission to the committees. No part of the meeting I attended included anything about the campaign, there was no follow up to the meeting that I am aware of, I do not recall how many people were there (or their names), and I have no knowledge of any documents being offered or accepted. Finally, after seeing the email, I disclosed this meeting prior to it being reported in the press on a supplement to my security clearance form, even if that was not required as meeting the definitions of the form.There was one more possible contact that I will note. On October 30, 2016, I received a random email from the screenname “Guccifer400.” This email, which I interpreted as a hoax, was an extortion attempt and threatened to reveal candidate Trump’s tax returns and demanded that we send him 52 bitcoins in exchange for not publishing that information. I brought the email to the attention of a U.S. Secret Service agent on the plane we were all travelling on and asked what he thought. He advised me to ignore it and not to reply — which is what I did. The sender never contacted me again.To the best of my recollection, these were the full extent of contacts I had during the campaign with persons who were or appeared to potentially be representatives of the Russian government.Transition Contacts with Foreign PersonsThe transition period after the election was even more active than the campaign. Starting on election night, we began to receive an incredible volume of messages and invitations from well-wishers in the United States and abroad. Dozens of messages came from foreign officials seeking to set up foreign leader calls and create lines of communication and relationships with what would be the new administration. During this period, I recall having over fifty contacts with people from over fifteen countries. Two of those meetings were with Russians, neither of which I solicited.On November 16, 2016, my assistant received a request for a meeting from the Russian Ambassador. As I mentioned before, previous to receiving this request, I could not even recall the Russian Ambassador’s name, and had to ask for the name of the individual I had seen at the Mayflower Hotel almost seven months earlier. In addition, far from being urgent, that meeting was not set up for two weeks — on December 1. The meeting occurred in Trump Tower, where we had our transition office, and lasted twenty- thirty minutes. Lt. General Michael Flynn (Ret.), who became the President’s National Security Advisor, also attended. During the meeting, after pleasantries were exchanged, as I had done in many of the meetings I had and would have with foreign officials, I stated our desire for a fresh start in relations. Also, as I had done in other meetings with foreign officials, I asked Ambassador Kislyak if he would identify the best person (whether the Ambassador or someone else) with whom to have direct discussions and who had contact with his President. The fact that I was asking about ways to start a dialogue after Election Day should of course be viewed as strong evidence that I was not aware of one that existed before Election Day.The Ambassador expressed similar sentiments about relations, and then said he especially wanted to address U.S. policy in Syria, and that he wanted to convey information from what he called his “generals.” He said he wanted to provide information that would help inform the new administration. He said the generals could not easily come to the U.S. to convey this information and he asked if there was a secure line in the transition office to conduct a conversation. General Flynn or I explained that there were no such lines. I believed developing a thoughtful approach on Syria was a very high priority given the ongoing humanitarian crisis, and I asked if they had an existing communications channel at his embassy we could use where they would be comfortable transmitting the information they wanted to relay to General Flynn. The Ambassador said that would not be possible and so we all agreed that we would receive this information after the Inauguration. Nothing else occurred. I did not suggest a “secret back channel.” I did not suggest an on-going secret form of communication for then or for when the administration took office. I did not raise the possibility of using the embassy or any other Russian facility for any purpose other than this one possible conversation in the transition period. We did not discuss sanctions.Approximately a week later, on December 6, the Embassy asked if I could meet with the Ambassador on December 7. I declined. They then asked if I could meet on December 6; I declined again. They then asked when the earliest was that I could meet. I declined these requests because I was working on many other responsibilities for the transition. He asked if he could meet my assistant instead and, to avoid offending the Ambassador, I agreed. He did so on December 12. My assistant reported that the Ambassador had requested that I meet with a person named Sergey Gorkov who he said was a banker and someone with a direct line to the Russian President who could give insight into how Putin was viewing the new administration and best ways to work together. I agreed to meet Mr. Gorkov because the Ambassador has been so insistent, said he had a direct relationship with the President, and because Mr. Gorkov was only in New York for a couple days. I made room on my schedule for the meeting that occurred the next day, on December 13.The meeting with Mr. Gorkov lasted twenty to twenty-five minutes. He introduced himself and gave me two gifts — one was a piece of art from Nvgorod, the village where my grandparents were from in Belarus, and the other was a bag of dirt from that same village. (Any notion that I tried to conceal this meeting or that I took it thinking it was in my capacity as a businessman is false. In fact, I gave my assistant these gifts to formally register them with the transition office). After that, he told me a little about his bank and made some statements about the Russian economy. He said that he was friendly with President Putin, expressed disappointment with U.S.-Russia relations under President Obama and hopes for a better relationship in the future. As I did at the meeting with Ambassador Kislyak, I expressed the same sentiments I had with other foreign officials I met. There were no specific policies discussed. We had no discussion about the sanctions imposed by the Obama Administration. At no time was there any discussion about my companies, business transactions, real estate projects, loans, banking arrangements or any private business of any kind. At the end of the short meeting, we thanked each other and I went on to other meetings. I did not know or have any contact with Mr. Gorkov before that meeting, and I have had no reason to connect with him since.To the best of my recollection, these were the only two contacts I had during the transition with persons who were or appeared to potentially be representatives of the Russian government.Disclosure of Contacts on My Security Clearance FormThere has been a good deal of misinformation reported about my SF-86 form. As my attorneys and I have previously explained, my SF-86 application was prematurely submitted due to a miscommunication and initially did not list any contacts (not just with Russians) with foreign government officials. Here are some facts about that form and the efforts I have made to supplement it.In the week before the Inauguration, amid the scramble of finalizing the unwinding of my involvement from my company, moving my family to Washington, completing the paper work to divest assets and resign from my outside positions and complete my security and financial disclosure forms, people at my New York office were helping me find the information, organize it, review it and put it into the electronic form. They sent an email to my assistant in Washington, communicating that the changes to one particular section were complete; my assistant interpreted that message as meaning that the entire form was completed. At that point, the form was a rough draft and still had many omissions including not listing any foreign government contacts and even omitted the address of my father-in-law (which was obviously well known). Because of this miscommunication, my assistant submitted the draft on January 18, 2017.That evening, when we realized the form had been submitted prematurely, we informed the transition team that we needed to make changes and additions to the form. The very next day, January 19, 2017, we submitted supplemental information to the transition, which confirmed receipt and said they would immediately transmit it to the FBI. The supplement disclosed that I had “numerous contacts with foreign officials” and that we were going through my records to provide an accurate and complete list. I provided a list of those contacts in the normal course, before my background investigation interview and prior to any inquiries or media reports about my form.It has been reported that my submission omitted only contacts with Russians. That is not the case. In the accidental early submission of the form, all foreign contacts were omitted. The supplemental information later disclosed over one hundred contacts from more than twenty countries that might be responsive to the questions on the form. These included meetings with individuals such as Jordan’s King Abdullah II, Israel’s Prime Minister Bibi Netanyahu, Mexico’s Secretary of Foreign Affairs, Luis Videgaray Caso and many more. All of these had been left off before.Over the last six months, I have made every effort to provide the FBI with whatever information is needed to investigate my background. In addition, my attorneys have explained that the security clearance process is one in which supplements are expected and invited. The form itself instructs that, during the interview, the information in the document can be “update[d], clarif[ied], and explain[ed]” as part of the security clearance process. A good example is the June 9 meeting. For reasons that should be clear from the explanation of that meeting I have provided, I did not remember the meeting and certainly did not remember it as one with anyone who had to be included on an SF-86. When documents reviewed for production in connection with committee requests reminded me that meeting had occurred, and because of the language in the email chain that I then read for the first time, I included that meeting on a supplement. I did so even though my attorneys were unable to conclude that the Russian lawyer was a representative of any foreign country and thus fell outside the scope of the form. This supplemental information was also provided voluntarily, well prior to any media inquiries, reporting or request for this information, and it was done soon after I was reminded of the meeting.*As I have said from the very first media inquiry, I am happy to share information with the investigating bodies. I have shown today that I am willing to do so and will continue to cooperate as I have nothing to hide. As I indicated, I know there has been a great deal of speculation and conjecture about my contacts with any officials or people from Russia. I have disclosed these contacts and described them as fully as I can recall. The record and documents I am providing will show that I had perhaps four contacts with Russian representatives out of thousands during the campaign and transition, none of which were impactful in any way to the election or particularly memorable. I am very grateful for the opportunity to set the record straight. I also have tried to provide context for my role in the campaign, and I am proud of the candidate that we supported, of the campaign that we ran, and the victory that we achieved.It has been my practice not to appear in the media or leak information in my own defense. I have tried to focus on the important work at hand and serve this President and this country to the best of my abilities. I hope that through my answers to questions, written statements and documents I have now been able to demonstrate the entirety of my limited contacts with Russian representatives during the campaign and transition. *I did not collude, nor know of anyone else in the campaign who colluded, with any foreign government. I had no improper contacts. I have not relied on Russian funds to finance my business activities in the private sector. I have tried to be fully transparent with regard to the filing of my SF-86 form, above and beyond what is required. Hopefully, this puts these matters to rest.
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Warhammer 40,000 Conquest Magazine issue 51, 52, 53, 54 ... BITCOIN MANIA! - Dave Ramsey Rant - YouTube LEGO Ninjago magazine issue 51 review KOUMUDI - Audio Magazine - Issue 52 Fulla magazine issue 52 مجلة فلة العدد

Bitcoin. How Will Bitcoin Lead to More Freedom? The 1987 debate that foreshadowed the divide in today's cryptocurrency community. Jim Epstein 10.16.2020 10:55 AM Digital money that’s instant, private, and free from bank fees. Download our official wallet app and start using Bitcoin today. Read news, start mining, and buy BTC or BCH. A lot of ink has been spilled over Bitcoin’s halving, with crypto luminaries the world over taking sides on how much it will affect the token’s price. Will it push Bitcoin higher or does its ... Free Issue of Forbes . Latest. Coronavirus Coverage ... Bitcoin is now down 15.52% in the month of September. There was no obvious news associated with today's decline in the price of Bitcoin ... Bitcoin could potentially switch to such an consensus algorithm, which would significantly improve sustainability. The only downside is that there are many different versions of proof-of-stake, and none of these have fully proven themselves yet. Nevertheless the work on these algorithms offers good hope for the future. Energy consumption model and key assumptions. Even though the total network ...

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Warhammer 40,000 Conquest Magazine issue 51, 52, 53, 54 ...

This week I will be on holiday, but I will be back next week. Here's the planned schedule: 1. Monday 22nd: Ninjago Legacy issue 2 magazine review 2. Tuesday 23rd: Ninjago issue 52 magazine review ... KiranPrabha Radio Talk Show - KOUMUDI - Weekly Audio Magazine - Issue 52. Please visit www.koumudi.net The math behind cryptocurrencies. Home page: https://www.3blue1brown.com/ Brought to you by you: http://3b1b.co/btc-thanks And by Protocol Labs: https://prot... Warhammer 40,000 Conquest Magazine issue 51, 52, 53, 54 Unboxing https://pluckey3.blogspot.kr https://www.facebook.com/pluckey3 https://www.instagram.com/plu... The next issue is on sale 14th August 2019 and will include a Cole minifigure with 2 alternate expressions/faces and an ultra-hammer. Unfortunately, I will be on holiday from the 3rd to the 30th ...

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