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  1. Cryptocurrency Developers Now More Powerful than Traders on Wall Street https://www.linkedin.com/pulse/cryptocurrency-developers-now-more-powerful-than-wall/ In a Google search of March 2018 the following results were served: bitcoin 275,000,000: cryptocurrency 58,400,000: NYSE 43,600,000: Wall Street 232,000,000 To continue.... In February 1993 I went with some friends to the gallery of the New York Stock Exchange to watch enormous amounts of commodities being traded and ponder what it was like to be a trader on the chaotic floor below. That day I was an MA student in the second rate (within the fine art school) print technology department of the Royal College of Art, London. In the following paragraphs I reflect on the rise of cryptocurrencies and the long term irony of that trip to NYSE. The origin of strong electronic cryptography and present cryptocurrency started life in the 1980s. David Chaum in 1981 created a framework paper in the field of anonymous communications when he published ‘Untraceable Electronic Mail, Return Addresses and Digital Pseudonyms’. This paper grew in the 1980s and 1990s into an activist movement under the broader banner of Cypherpunks. In October 2008, Satoshi Nakamoto released a short paper called ‘Bitcoin’ on a peer-to-peer system of electronic cash where the total amount of bitcoin grows in circulation through computers solving mathematical problems called mining. This became a reality the following year. Nine years later Bitcoin has developed into smart contracts, hundreds of other cryptocurrencies and an ICO industry with a combined market capitalisation of more than $400 billion. (Google wants to ban ads related to ICOs but the catholic church back in the 1500s fought hard to stop the spread of the Gutenberg printing press, the bible in English and the reality that the world is round.) Two words that are used to describe the crypto-backed gold rush are disruption and innovation of the financial system. But at this point we come to a problem with the language both investors, the financial industry and everyone else that has jumped on the cryptocurrency and ICO bandwagon are using to describe both bitcoin and cryptocurrencies. Blockchain technology may be both disruptive and innovative but it is still only an encrypted database unless a copy of this encrypted database is distributed across a network of nodes. Blockchain technology and distributed ledgers combined have real power not just to disrupt but to radically alter who maintains control over the world’s resources and financial system of fiat money printing in the future. Clearly Google's senior management are no longer visionaries with a deep understanding of where technology can take us but graduates of Ivy League colleges with an MBA bought and owned by the banks and their Fed backers. Bitcoin and cryptocurrencies have been embraced by millions of individuals many of whom believe that the answer to the current fiat money crisis and to their own future prosperity is to create your own money which up to a few years ago was certainly frowned upon by central bankers. But on this point alone both central bankers running the centralised fiat money printing schemes and their government sponsors have failed to get their heads around distributed ledger and blockchain technology. It’s just too complicated for many to understand let alone know how to measure the change to global society this will have in the future. In the present crypto arena gamers have met up with cryptographers, creative thinkers, developers and programmers supported by much of the open source community. At the heart of the open source technology movement (80% of the internet's software) are individuals who understand of the power of digital information. Whether they’re experienced cryptographers or fine artists working on their first cryptocurrency DApp and struggling with javascript. There are some who dream that one day we will count our pennies in one and zeros instead of base 10. Wealthy bankers and their supporters in government and in the media have done their best to discredit bitcoin. Ethereum and the world of cryptocurrencies still seem a little too much even for the so called liberal media to discuss in the public arena. So for now disinformation sponsored by Wall Street and the Federal Reserve fills the columns of a dying liberal media desperate for money from anywhere for survival. But survive the liberal will not nor any media outlet who ignores the clear advantages of exploring the upward market of bitcoin or crypto as an alternative income streams to the corrupting forces of advertising revenue courtesy of the big banks fiat money. As Wall Street and the Federal Reserve, the European Central Bank and every other fiat money printing press in the world wonders just what they realistically can do to halt the flow of billions daily in and out of the cryptocurrency market, the outline of one thing can be seen clearly as the fog clears from the 2008 banking collapse and economic crisis. The days of centralised fiat money are not just numbered but so too is every centralised asset and commodities exchange in the world and that includes the New York Stock Exchange and Wall Street too. Above the floor of the New York Stock Exchange that February 1993 morning I wondered what it must be like to have so much money pass through your hands on a daily basis and what a trader’s salary must be and the annual bonuses? I could only imagine the hundreds of thousands maybe millions that these guys and a few women below earned and the personal power and social admiration they enjoyed that came with that money. Back in the not so exciting cold dark rooms of the Royal College of Art's printing department we experimented with microprocessor maps and the basics of how a processor works expressing this in complex layering techniques in photoshop. Here some of us understood the power of binary numbers working in a circuit. Yet we were on paper not studying electronics but print design. I always understood the internet would change the world and when newspaper media mocked the internet in the mid 1990s, saying it was just a fade, it was clear sometimes even the brightest minds in journalism put their own bread and butter before the reality that the Earth is round. Working recently with ALTTEX.io a small start-up ICO from Ukraine with offices in Palo Alto, California, the two co-founders of ALTTEX have envisioned a platform with three primary apps that does everything that the New York Stock Exchange can do but faster with more security and privacy than any transaction ever sent or received on the floor of the New York Stock Exchange. An army of hobby and professional developers working in open source technology live 12 hours a day between github and stackoverflow whilst reading new documentation on solidity updates and bug fixes to their scripts. If you’re a banker you’ll have no idea what I’m talking about but these guys are half the army who are just about to put many of who out of business. Next time you are celebrating in an expensive London bar your latest bonus think before you look down your nose at a scruffy twenty-something with a battered laptop. This kid could be on github. Your world might just be sucked up in a vacuum. Probably the only thing most bankers will be able to say that Friday afternoon they lose their job is, “Where did all that innovation come from?” But as much as it's the technical brilliance of solidity developers up there on github there is another creative force that is equally at work here; an army of talented artists and graphic designers who are open source savvy and who have no emotional connection to banks, news media or even Google or Facebook; now dinosaurs of the information age. Raw creativity, the need to earn money and the impulse to change an unjust world in the knowledge that digital products have a huge value as user content served onto mobiles close the era of centralised television. If we're going to talk of the end of the New York Stock Exchange, a brand name in itself, it is only fitting to mention one decentralised community in the world working in the knowledge that information has value today and economic value tomorrow. I end this short article with the thought that the Royal College of Art, London where I studied print technology will probably be around long after the bulk of the trading floors at the New York and London Stock Exchanges have disappeared. The nature of art and design, open source programming and decentralised technology is based on shared digital information that has a financial value not tomorrow but today, where nodes (individuals) at the same time work independently. With the the dawn of the internet and destruction of news media and telephone corporations many financial institutions who ignore the writing on the wall today will not be around tomorrow. This is the nature of digital capital and just like old centralised bank capital it doesn’t particularly care who is in power now or tomorrow. There is no bank or banking group 'too big to fail' in this new era as crypto investors turn away from the bond market. And was it not our governments that sold the West's future prosperity down the river by issuing bonds that kept the banks afloat in the bailout? As I flick through the apps on my android phone, I hold the same financial power in my hands as the CEO of JP Morgan sitting at his desk, if I know how to write a smart contract and market a token based on a strong crypto product that investors will buy into at pre-ICO. For the record, I know who to hire to write a smart contract, how to market a token and how to drive a crypto crowdfund or pre-ICO to market. But so do many others now. DApp developers, programmers and creative directors at cryptocurrency start-ups are now more powerful than traders on Wall Street. If you enjoyed reading this article please like and share! Comments and suggestions also very welcome.
  2. Hello SimpleThought,


    Thanks for commenting on my post.


    What is the prediction based on for the crypto market cap?

    1. SimpleThought


      Hi Anthony, sorry for such a long delay with the answer. Prediction markets are based on the "wisdom of the crowds" concept: people betting on the outcome of the event and making money on it. Because people are motivated to be right (they spend their money on the bet and they expect a big return) the markets are usually expected to reflect the average opinion of the crowd on how likely the outcome is.


      Hope it helps!

  3. Mark2 you said, "Analysts from JP Morgan say that net inflow of $6 billion into the cryptocurrency market resulted in $300 billion market cap." Do you happen to have a link to this? Thanks if you can help!
  4. Good point. But how will the Fed or US gov or Central Bank of Europe or Bank of England through its influence control this market? I can't think how any other body would have such power to control a crypto bull market as it approaches the trillion dollar mark. After that this market starts to suck up other asset classes such as property and metals. That's when crypto really will kick in and I don't think governments will have a clue what to do.
  5. It is possible given the steep rise in the market last year. Who would have predicted that? But is early doors yet for this market.
  6. At the beginning of March 2017 the total crypto market cap was $24.8bn. In January 2018 the crypto market cap was equal to $813bn. Today the present crypto market cap is $369bn. If we multiple the total market cap today by 5 (5 x $369bn) will the total market cap be $1.84 trillion by this time in 2019... Any thoughts? Mark2 commented below.... "Analysts from JP Morgan say that net inflow of $6 billion into the cryptocurrency market resulted in $300 billion market cap." Very interesting.
  7. Hello ICOs, My name is Anthony Hogan. My profile: https://www.linkedin.com/in/theblockchain/ I work in the ICO Communications and PR part of Crypto. I am now starting to work with an asset and wealth management / hedge fund whose investors are interested in the ICO space. If you are a start-up crypto project and have a white paper ready please contact me on CryptoCurrencyTalk or through my linkedin page. Many thanks everyone. Anthony Hogan PS I hope I am not breaking any of the forum's rule by posting this ad.

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