Lightning Network is growing and blockchain-backed gold is coming

in #money7 years ago (edited)

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Good morning traders, hodlers and other Steemers! The week has started and some of the cryptocurrency rallies have fizzled out.

There is not much optimism on the streets as the FUD, that is spread on social networks about South Korea, China and now India, gathers pace, and users keep unloading their portfolios without digging deeper into the stories.

Neither am i going to dig into it right now ( i might do a small write-up sometime in the near future), as i can see that it is just rumors and nothing that is really threatening to the blockchain technology itself.


So what's going on?

Lightning Network is growing! The mainnet of LN has doubled it's node count in just a matter of days. Just a week ago the node count stood around 40. The testnet rocks a solid 1500 nodes currently.

ln nodes.JPG

Via lnmainnet.gaben.win

Want to see a live case? Head on over to the Blockstream store, which is one of the first to integrate the Lightning Network payments. The store itself has only 4 products on sale - they claim that the products on sale are real, but the store is only set up for testing purposes.

So want a men's tee? Head on over to https://store.blockstream.com/ and pay via the LN

blockstream store.JPG

Keep in mind, LN is still doing it's baby steps, but here's to hoping for an explosive growth. The BTC fees are already dropping, but according to some reports tx-s with massive fees keep popping up now and then and ruining the party.

Still in the dark what a Lightning Network is? Check out my earlier post So, what is the Lightning Network exactly?


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Photo credz: Colin Murty via theaustralian.com.au

Want gold? Want to hoard it like a dragon? Of course you do. But where are you gonna hoard it? Blockchain-backed gold to the rescue.

Perth Mint, an Australian based gold refiner is working on bringing blockchain-interinked gold products to the market, which would enable the tracking of all transactions. This would serve as cutting suspicious sources out of the trade while at the same time improving customer confidence about the origins of the gold.

internationa ldiamond trade.JPG
Via theaustralian.com.au

According to Richard Hayes, the Chief Executive at Perth Mint, gold has proved that it can sustain value over the time, whereas Bitcoin is nothing than a ludicrous bubble that has to burst eventually. But the underlying blockchain technology is something the gold industry could benefit enormously from.

Read the full story here on The Australian


Time to end this post with a bang. StockTwits refers this awesome video, how it feels to HODL your crypto portfolio. And they might not be very far off with that ;) But you'll get rewarded in the end, if you don't panic.

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Via Stocktwits



Oh, @furious-one, you're so cool, how can i show my appreciation to you? Well, if you insist - send some PEPITO tokens to BTS: furious-one on the Bitshares DEX ;)

https://wallet.bitshares.org/#/market/PEPITO_BTS


Check out Chainbb, an alternative frontend for STEEM network. If you like forum style, that's the platform for you.


Title image from pixabay

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You really think so? 😊

Thanks for this update, very helpful!! :D

Very useful article, my dear friend!
You're absolutely right! Now the panic in the market is normal. The more panic and the more people begin to close their positions, the sooner things will start to grow. I made a post on this occasion yesterday, where I analyzed the history of correction for Bitcoin. Everything is clearly and clearly described there. History always repeats itself.
(P.S. thanks for voting this article, my dear friend)
We must wait!

As for the gold! Many gold mining companies and their representatives always speak ill of Bitcoin and Cryptocurrency. This can only be done to disperse more panic in the market

or they see Bitcoin as a competitor who can destroy their business. Maybe they are just afraid!

Personally, I believe that with the time Bitcoin and gold will be equal to each other. And maybe in the future in the gold and currency reserves of the countries will include cryptocurrency))))

It is worth noting that while the blockchain did not give global reasons, it doubted! We must wait! Everything will be alright!

As always, I'm interested in your expert opinion - https://steemit.com/trading/@maksym7/trading-ideas-on-tuesday-good-news-on-the-ethereum-my-forecast-for-zec

Thank you for the article, @furious-one!

LN and others technologies likes Blockchain, Tangle and IoT is starting to revolutioning the way we live. Every change is difficult to accept. But this is only the start, like cryptos.

bitcoin is the shift to blockchain and a new gold reserve system. It has been implemented under our noses and now comes the flip of the switch. Gold back crypto govt issued was always the end game. Long story haha amazing times.

i think everyone that backs Gold is scared of what blockchain can do. they see how fast its growing and how it surpassed gold in value in only a few months and now they will try to discredit the tech no matter how it may benefit them

These 2 don't have to be competing or opposing each other - they could have potential being interlinked, as noted in this post. Truth be told, no country back's its currency with gold, but it still holds it's value. And it seems, China & Russia keep hoarding it...

i completely agree. i wish people would stop looking at blockchain as just some new currency thats trying to take over and start looking at the tech its self and how it can help solve current issues. start looking at how it can integrate into the current systems and make them faster and more secure

Lightning Network will bring Bitcoin to its new all time high...

A gold backed crypto? Hell I'm in! Finally a crypto that is actually backed by gold like the fiat. Now if only the rumors about another impending dip, disappears . Why does it feels like someone is actually fueling this rumor? Am I just being overly suspicious? What do you think @furious-one?

Fiat backed by gold?rofl

Not sure, but the downside is limited to 0 while the upside is wide open and Wall Street hasn't had their share of the profits yet

B-b-but CNBC and it’s viewers told me bitcoin was too volatile and worthless to use! Waaaaahhhhhh!

Is the back up by Gold makes the coin centralised?