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SpankChain and Blockchain Tech: Freedom of Self-Expression

SpankChain has managed to differentiate itself from its ICO and actually deliver a stable, usable platform for many users. Since

The post SpankChain and Blockchain Tech: Freedom of Self-Expression appeared first on CoinStaker | Bitcoin News.

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SpankChain is not your typical startup. It’s actually centered around porn and it managed to raise $6 million for its ICO back in 2017. Maybe not being a typical startup or ICO is just what SpankChain needs to make it nowadays.

SpankChain has managed to differentiate itself from its ICO and actually deliver a stable, usable platform for many users. Since the site launched in April to late October, it has paid over $70 000 to over 30 camgirls. Some of the camgirls are actually making more on SpankChain than on any other porn site out there.

A camgirl by the name of River Sunshine said that she is in the business for over 5 years now. The model stated that working on 3 websites simultaneously earned her 6% of her current profits from a single month on SpankChain alone. Molly Mae Meow has been in the business even longer and she also makes way more money on the porn startup than on mainstream porn sites.

The key reason for camgirls getting so much money off SpankChain is that it charges only 5% of the models’ earnings. Traditional sites usually charge between 40 and 50%. Sunshine and Molly are now prime examples of how crypto can help camgirls take more of their earned money.

SpankChain gives users the option to become HODLers

The girls will usually cash out the SPANK tokens for weekly expenses and keep the majority of crypto as a long-term investment. If this same system was used by camgirls exactly one year ago, they would be making more in a day than the highest paid porn actresses. Even now, despite the very harsh market conditions, SpankChain has over 20 new performers signing up each week.

There are of course many questions about how legal everything is, especially in the United States. Ameen Soleimani, the CEO of SpankChain used to company’s public discord to assure users on their safety from regulators. He stated that there are absolutely no concerns about regulators hindering the growth of SpankChain’s ecosystem. That’s because the developers are keeping the token off major exchanges and they never discussed price appreciation for the token.

SpankChain’s CEO also commented that his company was not in any cotact with the United States Securities and Exchange Commission, but he would be more than happy to cooperate with them if the need ever arises.

The tokenized holdings however, are not the sole reason camgirls are joining SpankChain. Models having more control over their assets is great, but SpankChain also gives far more room for creativity. Mainstream porn sites, usually work with credit card processors and they ban many of the fetish performances like fake blood, roleplay etc. Models on SpankChain can do many such shows without any fear of being shut down.

Many performers were also affected by the SESTA-FOSTA bill, which passed through Congress earlier this year. So models on SpankChain are more than happy to have control over their own cash out process. The site’s system allows for instant access to funds due to not having to deal with credit card chargebacks.

One of the biggest benefits for performers is that they have freedom to shape their own shows. This means that even if they decide to do a reading or cooking show, no one can force them to do otherwise. The freedom and growth achieved in this sector alone is just a glimpse of what crypto can do for the entire world.

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The post SpankChain and Blockchain Tech: Freedom of Self-Expression appeared first on CoinStaker | Bitcoin News.

Source: https://www.coinstaker.com/spankchain-blockchain-freedom/

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ETH Supply in Smart Contracts Leads That on Exchanges With Huge Margin, Thanks to DeFi

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On-chain data analytics provider Galssnode has come up with an interesting observation for ETH supply! With all the craze around decentralized finance (DeFi), the ETH supply in smart contracts has outclassed its supply on centralized exchanges over the last fifteen days.

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As we can see in the above charts, the ETH percentage supply in smart contracts has gone close to 15.5%, exceeding the exchange’s total supply by 4%. Rather there’s another interesting thing to observe here! The gap between the two continues to widen as investors decide to utilize ETH for DeFi profits instead of storing it on the exchange and waiting for trade opportunities.

Ethereum blockchain network remains the hot destination for DeFi apps. Moreover, the latest frenzy around yield-farming tokens has boosted the DeFi market to new highs. Thus, more and more users have been attracted to the Ethereum blockchain. Sharing another stats, Glassnode also mentioned that the number of non-zero addresses on Ethereum has hit a new all-time high.

DeFi Craze Pushes ETH Gas Fee to New Highs

As the crazy demand for ETH driven by the DeFi craze has pushed the gas-fees soaring. Just after the latest launch of the Uniswap’s UNI governance token, ETH miners collected more than $1 million in no time.

Ethereum miners have been making a fortune as the Gas price surged to 700 gwei per transaction earlier this week. The ETH gas price has touched its new all-time high in 2020. This has forced major centralized exchanges like Coinbase Pro to pass their fees to the customers.

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On Thursday, September 17, the San Francisco-based exchange informed customers about the new changes. The exchange tweeted:

Starting today, Coinbase Pro will pass along network fees directly to our customers. These fees (sometimes referred to as “gas fees” on the Eth blockchain) are paid directly to crypto miners that process transactions and secure the respective network. Historically, Coinbase Pro has absorbed these fees on behalf of our customers. However, as crypto has begun to gain broader adoption in applications like DeFi, payments and other projects, networks have gotten busier.

Coinbase has assured that it won’t charge customers though for moving funds between two Coinbase accounts. Looking at this rapidly surging DeFi market, the Ethereum community is eagerly waiting for the launch of Ethereum 2.0 that will offer massive scalability and cater to a large number of DeFi projects.

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Author: Bhushan Akolkar




Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

Source: https://coingape.com/eth-supply-smart-contracts-leads-exchanges-huge-margin-thanks-defi/

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Stellar Lumens, NEM, Maker Price Analysis: 19 September

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Stellar Lumens was facing continuous bearish pressure on the charts and looked likely to head further south, at the time of writing. On the contrary, NEM exhibited a strong bullish trend in the near-term while Maker showed signs of bullishness as well.

Stellar Lumens [XLM]

Stellar, NEM, Maker Price Analysis: 19 September

Source: XLM/USD on TradingView

The momentum was strongly bearish with XLM. The RSI stood at 37, while having failed to rise above the neutral zone around 50 over the past week.

The last time the RSI noted an uptrend, however, it turned out to be a bounce, rather than a trend reversal.

Hence, it is likely that XLM is in the midst of a strong downtrend, and any short-term bullish reversal can be considered as a bounce, unless compelling evidence to the contrary can be found. Traders can use such bounces to short the crypto-asset.

XLM could drop past its level at $0.75 to find support at $0.7, and even beneath that level at $0.63, if faced with strong selling pressure over the next few days.

NEM [XEM]

Stellar, NEM, Maker Price Analysis: 19 September

Source: XEM/USD on TradingView

NEM registered bullish momentum in recent trading sessions, but faced resistance at the $0.116-level. Sellers stepped in as the price attempted to climb above the said level. XEM closing above this level would be bullish, while another rejection at the resistance could contribute to a small drop in price.

The Directional Movement Index signaled a strong trend, one that has been present with XEM for a week now. The ADX (yellow) was above 20, with -DMI (pink) above +DMI (blue), until it flipped the other way round a few days ago.

Buyers stepped in at the demand zone of $0.1. Further, Buyer interest appeared to have effected a trend reversal in the short-term too.

The close of the next few trading sessions will give a clearer picture of XEM’s next direction.

In other news, NEM is launching the Symbol public blockchain in December, and with it, the XYM token. For this purpose, the announcement regarding opt-in was made by NEM.

Maker [MKR]

Stellar, NEM, Maker Price Analysis: 19 September

Source: MKR/USDT on TradingView

Maker rose above its resistance at $500, and appeared to do so with conviction. The trading volume when MKR first breached the level was off the charts. This wasn’t all buyers, however, as sellers also forced the price south. MKR still closed that session at $502, with MKR attempting to rise even more, at the time of writing.

The OBV showed rising buyer interest, as exhibited by the higher lows the indicator was forming on the charts. Further, the MACD also formed a bullish crossover recently.

It is likely that MKR will rise above $500, re-tests the level, and continues upward. The next level of resistance for MKR lay around the $571 region.

Source: https://eng.ambcrypto.com/stellar-lumens-nem-maker-price-analysis-19-september

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