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John Locke And The Pursuit Of Bitcoin’s Decentralization

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John Locke And The Pursuit Of Bitcoin's Decentralization

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If John Locke’s life can be encapsulated in one word, it’s freedom.

By the time he died, in 1704, he had written a number of weighty books on the importance of liberty. The biggest threat to freedom, Locke wrote, came from coercive governments. Nearly four hundred years later, little has changed.

Though Locke had many an admirer, Thomas Hobbes wasn’t one of them. In fact, Hobbes’ sentiments were the antithesis of Locke’s. The Hobbesian philosophy, both simple and flawed, goes something like this: for humans to be truly happy, to be truly safe in a chaotic world, it’s best to let kings, queens, and political elites call the shots.

With the benefit of countless lessons from history, the Hobbesian philosophy now seems utterly naïve, not to mention dangerous. The idea of placing the welfare of millions of people in the hands of a king, queen, president, etc. is a preposterous one. Even the idea of a modern-day president seems so antiquated. In Joe Biden we trust doesn’t inspire much…well, trust. To be clear, this is not an attack on President Biden. Substitute Boris or Macron in and the well of trust still remains dangerously dry.

How can one person speak for millions – or in the case of the US, some 323 million – people? It’s impossible.

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Of course, Hobbes could never have envisaged a day when the likes of Facebook and Google would (or could) control the public narrative.

Nevertheless, the Englishman lived in an age littered with capricious monarchies, many of whom ruled with an iron, blood-soaked fist. Both Ivan the Terrible and Rudolf II, Holy Roman Emperor wreaked havoc throughout the 16th century, around the very same time that Hobbes was born.

Back then, as well as having the power to mar at will, monarchies directly controlled the flow of finances. Although today’s monarchies are more ornamental in nature, financial control is still largely centralized. Powerful political figures still play a major role in who gets access to financial resources, with the power to refuse mortgage applications and shutdown bank accounts with the click of a button.

John Locke imagined a better world. Fiercely independent and passionately devoted to the idea of freedom, the philosopher and physician was very much an anti-Hobbesian. A hero of the decentralization movement centuries before the idea took hold, Locke was repulsed by tyrannies.

By placing so much power in the hands of one person, he warned, people were sacrificing their autonomy, their right to be truly free. Locke’s philosophy echoes that of BTC’s. After all, Satoshi created the digital cash system in order to remove third-party intermediaries from the picture. An intermediary is just another word for a referee, and as we all know, refs call the shots.

By removing the referee, Satoshi imagined a more equitable playing field. The philosophies of both Satoshi, very much a Lockean, and Locke, very much a Satoshian, sound simple; if applied globally, however, their results may very well restore power to the people.

From a Lockean perspective, human beings possess free will. We are, by our own very nature, free. As long as we abide by the laws of the land, any attempts to curtail this freedom are wholly unjust.

Such a philosophy might strike you as obvious, offensively so. Not so much a philosophy, more commonsense – like telling people to brush their teeth or to blink regularly. However, back in the 1600s, the idea of freedom from the rule was revolutionary. Locke’s philosophy was revelatory. Today, it’s important to remember that millions of people, from Tehran to Tipitapa, live under murderous regimes. Is it unreasonable to argue that the Brit’s philosophy is more important now than ever before?

Locke said, “Men being, as has been said, by nature, all free, equal and independent, no one can be put out of this estate, and subjected to the political power of another, without his own consent.”

This sentence can just as easily be applied to the world of traditional finance as it can to the world of politics. Why? Because the two are inextricably linked. Perhaps, at one time, you found yourself frozen out of your own financial “estate,” without warning, and maybe even without a reasonable explanation. Perhaps you are one of WallStreetBets investors who, just very recently, found your account locked by the ironically named Robinhood.

With a move to cryptocurrencies, greater degrees of autonomy are restored. We, not others, are in control of our estates. In the case of BTC, we literally have the key. As an “unequivocal defender of private property,” one assumes, if he were alive today, John Locke would also possess a key.


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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

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Source: https://zycrypto.com/john-locke-and-the-pursuit-of-bitcoins-decentralization/

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Where can you find the lowest fees on the crypto exchanges?

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A trader in any market, be it stocks, currencies or cryptocurrencies that are currently trending, is surrounded by a multitude of additional costs. These are all kinds of commissions, spreads, swaps, etc. And if you plan your trades incorrectly, such costs can “eat up” the lion’s share of profits or even reduce them to zero (see our crypto currency converter for comparison).

Fees on cryptocurrency platforms

When using the services of a cryptocurrency exchange, a trader has to pay a number of commissions. The most common types of these on the trading floor are:
1. Transaction Fee. This is the most common commission that is charged for deposits or withdrawals at the exchange.
If a cryptocurrency exchange only supports the deposit or withdrawal of cryptocurrencies, then the trader only pays the commission charged by the miners for such transactions. The amount of the commission is usually insignificant in this case.
For transactions with fiat currencies, you have to pay a commission for the use of the payment system. At the same time, the amount of the commission varies depending on the system chosen (bank transfer or something else). In addition, the degree of verification of the merchant account usually also affects the amount of the commission.
2. Commission for closing a trade. This commission on cryptocurrency exchanges is calculated directly when trading, when placing an order. Usually the level fluctuates in the range of 0.1-0.25%, but on some platforms it can even be more than 1% of the trading volume.

Maker and taker

A maker is a trader who opens sales transactions. The name comes from the English word “to make” (to do something). It is assumed that the maker brings his assets to the stock exchange, that is, “makes the market”.
A taker is a trader who buys something. It is assumed that the taker reduces the liquidity of an asset class on the market because after the purchase the asset moves to an external account and is therefore no longer on the market. is available.
Since the maker provides liquidity and the taker takes it away, the amount of the commission for the maker is usually lower than for the taker.
However, there are cryptocurrency exchanges where there are no commissions at all for placing orders. Such sites are becoming increasingly popular, but the liquidity in their trades often leaves a lot to be desired. In addition, to compensate for the lack of trading commission, such sites often charge excessive transaction fees.

Cryptocurrency platforms with minimal fees

The following platforms differ from crypto exchanges in that they have minimal commissions:
ü Binance has the lowest fees among the most popular platforms – at 0.1%, and if you use the exchange’s own tokens, they are even lower.
ü On the HitBTC website, the commission for placing an order for both the maker and the taker is 0.1%.
ü On Bitfinex, the trading commission for the maker is 0.1% and for the taker 0.2%.
ü On io, a maker pays between 0% and 0.16% for placing an order, for a taker the commission is between 0.1% and 0.2%.
ü There is no trading commission for makers on the GDAX and itBit platforms. For takers it is 0.25%.
ü On the Livecoin exchange you will find an option with a commission-free deposit in fiat currency (via the capitalist system). When the trading volume is small, the trading commission is 0.18%.

Under the supervision

There is a wide variety of cryptocurrency platforms offering digital asset trading – from humble exchanges that focus on the local market segment and have different reputations to the top giants that are analogous to the NYSE, LME or the NASDAQ are in the cryptocurrency world. Therefore, every trader can choose an exchange with acceptable commission fees for himself. We wish you every success in such an exciting business as trading in cryptocurrencies.

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Capitalizing on Blockchain’s Promise, Unicly Delivers NFT Fractionalization

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Unicly’s decentralized and permissionless protocol empowers the community to fractionalize, combine, and trade non-fungible token collections through sharding, improving overall NFT accessibility and fungibility through its novel design.

Accompanying Unicswap DEX Attracts Millions In Liquidity

Non-fungible tokens have become all the rage as platforms onboard high-profile artists, entertainers, and evangelists seeking a new way to monetize their collectibles, creations, and works of art.

Yet, the eye-popping auction figures aside, NFTs represent one blockchain area that largely remains inaccessible to wider audiences as surging prices concentrate overall ownership. Moreover, this nascent market’s dynamics don’t correspond to the fungible token market characterized by high liquidity among popular tokens.

By definition, a non-fungible token is not designed to be easily exchangeable. Because an NFT is unique, it ordinarily has a single buyer, contributing to an absence of market depth and almost no real-time liquidity. Accordingly, building an efficient secondary market is difficult, especially given that NFTs all have different values and varying levels of demand.

Despite these very real obstacles, Unicly, led by pseudonymous founder 0xLeia, has unleashed a platform that can fractionalize NFT ownership. Besides granting NFT holders a new channel for monetizing their existing NFT holdings, the protocol can provide liquidity to whitelisted collections while promoting more widespread adoption and participation.

Transforming Non-Fungible into Fungible

Unicly has developed an innovative approach for improving NFT fungibility. Unlike other projects in the space, this anonymous, self-funded initiative has introduced sharding to the equation. Sharding effectively splits a blockchain network into multiple parts to process transactions quicker while adding scalability.

In Unicly’s case, each NFT gallery can be a shard, distancing itself from other competing solutions which shard each NFT individually. The new protocol will allow users to create and fractionalize NFT collections from NFTs minted in either of Ethereum’s ERC-721 and ERC-1155 standards. Each collection is independently named and configured before settings, including token supplies and tickers, are determined for each gallery.

Once the corresponding NFTs are moved from a user’s wallet to smart contracts, uTokens (with the ticker mentioned above) are issued. After a preset percentage amount of uTokens are staked, the collection is unlocked for bidding.

Building Up NFT Liquidity

Secondary market liquidity has been the Achilles heel of NFT trading platforms, but Unicly has devised a cunning answer where others have failed. Taking a page out of decentralized finance’s book, the platform has introduced Unicswap, a fork of the popular Uniswap protocol. This AMM DEX helps users stake their uTokens and other cryptocurrencies to farm UNIC, the native Unicly token, through liquidity pooling.

Since unveiling the mainnet just days ago, the platform has already garnered significant popularity. According to figures, Unicswap attracted $3.5 million worth of liquidity to whitelisted pools in just four days. Additionally, 24-hour volume of $1 million puts competition SuperRare squarely in Unicly’s sights. After reaching nearly one-quarter of the competing platform’s monthly transaction volume in mere days, the total capitalization of NFTs in Unicly’s marketplace has now topped $20 million.

Proving beyond a doubt that its model is valuable, some significant collections have already joined the platform. uMask, a collection of 85 hashmasks, has reached a value of approximately $16 million, marking a 16-fold increase in the valuation from its original listing at $1 million. The first gallery listed on the platform, uUNICLY experienced similar exponential growth after listing 3 branded NFTs, rising from $300 to an astounding $180,000.

Another gallery, titled uLEIA, was built as an homage to the anonymous founder of the protocol by combining 0xLeia’s profile picture with AI-generated content. The platform has also appealed Chris McCann, a National Geographic award-winning photographer who listed his uCM collection of NFTs and other noteworthy collections from DokiDoki, MoonCats, WAIFU, and Nubians.

Taken together, Unicly’s fresh approach to NFTs is already demonstrating that a better model for community engagement and egalitarian participation exists, thanks in large part to sustainable incentives and valuable user-centric features.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.newsbtc.com/news/company/capitalizing-on-blockchains-promise-unicly-delivers-nft-fractionalization/

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Riot Blockchain Bitcoin production jumps 80% over pre-halving levels

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The company said it held more than $94 million in crypto as of March 31, all from Bitcoin it has mined.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cointelegraph.com/news/riot-blockchain-bitcoin-production-jumps-80-over-pre-halving-levels

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