The Basic Use Of Tokens In Cryptoeconomics

A token is basically a means of exchanging value or service using a form of currency. In the traditional sense, we use tokens for a variety of reasons. It is used as a way to validate a service or transaction, representing money. Back in the days, tokens were used on tolls, subways and in arcades. You purchase the tokens first using real money in your native currency. For example, to ride the subway you would first pay $1.50 to the attendant at a booth. The attendant then gives you a token which you then use to insert into a slot at the turnstile. If the token is accepted it opens a gate that allows entry to the subway train deck. Likewise at the arcade you pay first for tokens before you can use the video game machines.

Tokens provide a means to control the use of a device, like the video game machines in the arcade or account for usage, like passengers using the subway. It has its purposes as a means to exchange value for the use of something (e.g. transportation, entertainment, etc.). The use of tokens can also help regulate or secure the use of services, for management purposes. In an arcade, the operator wants only their customers to use their machines. They want to to be able to track the machines as assets and only have customers use it. A rival arcade’s tokens will not be allowed by their establishment. By issuing tokens, they are able to accomplish that.

In cryptoeconomics, tokens are also used. It has the same purpose, but it is in a digital format. Tokens from a cryptoeconomic context store a value that can be exchanged for something. It is also expended as a fee to perform computations to secure and process transactions. Tokens are also called coins, but there is a difference in their purpose when using these terms. A coin refers more to the cryptocurrency itself. You can call the coin as Bitcoin, while its token is BTC. When expending the coin you can refer to it as a token of the cryptocurrency’s blockchain network. It is a unit of value for that particular blockchain. On Ethereum, there are different token types that can be exchanged for value. The ERC20 token, used for funding projects, can be exchanged for Ether and converted into other cryptocurrency using smart contracts.

Tokens in cryptocurrency are also used to verify a user’s ownership of a coin. All tokens are associated with a public address that refers to the holder of the coin or token. This cannot be disputed on the blockchain since it is validated and tamper resistant. This provides a way to verify if a person is being honest when conducting a transaction. There is always a trail of provenance that records the history of a token when used in a transaction. Bad actors attempting to forge fake tokens will not be able to because tokens can only be issued through the blockchain by way of consensus (e.g. proof-of-work, etc.).

A token is like a certificate of authenticity or proof of ownership regarding a coin. During a trustless transaction on the public blockchain, if a user Alice and another user Bob conduct a transaction, their public address is recorded along with the transfer of value of the token they hold. It transfers ownership from one user to the other. Supposed Bob wants to sell his unused television to Alice directly, they enter into a P2P (peer-to-peer) transaction. Bob asks for 5 Ether which Alice then pays using a smart contract on the Ethereum blockchain. The smart contract executes with consent from both parties and the token exchange takes place allowing 5 Ether to transfer from Alice to Bob. The good thing about smart contracts is that before any transfer of value can take place, a condition can be created that the physical item must first be delivered to Alice before Bob receives a payment.

Tokenized economies based on smart contracts allow more transactions to be conducted directly without middlemen or third party platforms. The blockchain is the layer of trust that facilitates the transaction, and never blocks or censures anyone. Like in traditional economies, tokens are used for tracking and accountability purposes. This also transfers value in exchange for goods and services.

Bitcoin Pizza Day – May 22

May 22, 2010 was the day software developer Laszlo Hanyecz agreed to pay 10,000 Bitcoins for two delivered Papa John’s pizzas.

Call that a waste of money, now that BTC is worth over $8,000?

Not really. Instead buy this man a drink for being the first person to use BTC as a payment. Even though it was pizza worth around $41.00 at that time, it is considered the first truly successful use of BTC. It is a medium of exchange and electronic payment system after all. This proved the use case for it. Now today it is much different of course, because BTC has become many times more valuable with a larger market cap.

Laszlo was no idiot who wasted away his BTC. He is actually one of the original volunteer developers who helped in the early days of Bitcoin. He got rewarded with BTC, and he probably should still have some around. 10,000 BTC today will probably set you for life. In the significance of the moment, what Laszlo did was actually quite bold. He used BTC in a real world situation, even if it was just to buy pizza.

Since then, BTC has had a bad rap from mainstream finance people e.g. Jamie Dimon, Warren Buffet. They associate it as “rat poison” with no instrinsic value used by criminals for illegal transactions i.e. The Silkroad. Then again this argument falls apart when you point out that cash is the most used currency for illegal transactions, which cannot be easily traced while BTC can be traced on the blockchain (transparency). The drug deal on the corner is most likely done with the use of cash rather than BTC. Perhaps Jamie Dimon has come around because he sees the potential for the blockchain rather than Bitcoin itself. Mr. Buffet though, has not, but we are talking about a successful investor in the tradtional finance economy. Today it is a different story with how our economy is transforming digitally.

Today BTC is used more as a store of value, like gold. It can also be used to transfer value across borders, pay for retail items e.g. Overstock accepts BTC and lock into a deposit as a digital asset for loans or future payments. There are new non-mainstream financial instruments that allow holders to use their BTC to make investments into funding projects, donations and even pension funds. More new services will surely come as financial giants enter the cryptocurrency space.

Pizza is great comfort food. When you know you can buy it with cryptocurrency, it just gives a better feeling of what is to come as it evolves. For now if you have 10,000 BTC, HODL it. With that much BTC, you can buy pizza anytime for the rest of your life.

Note: This opinion piece are thoughts about Bitcoin and is not meant to be financial advice. Do your own research always.


It goes without saying that supply and demand are perhaps amongst the most important trading fundamentals. 

In almost every aspect of our lives, when it comes to buying something, we are constantly looking for a bargain price. When it comes to selling, on the other hand, we’re always seeking an opportunity to make the most out of it by selling at the highest price.

When it comes to trading, however, it appears that this is not always the case. We are oftentimes pushed to buying when the price is high while selling when the price is low. More often than not, traders, especially those who don’t have enough experience, end up selling their shares or even cryptocurrencies at a knockdown price because it pains them to hold them any longer.

Professional traders, on the other hand, are always looking to buy at a wholesale price and to sell at a retail price. This applies to the cryptocurrency market as well. It is at this point that a transfer of funds tends to take place from novice accounts to professional ones. The point at which this takes place is commonly referred to as a supply or demand zone.


A supply or a demand zone can be identified only when the price starts to speed away from an area on the chart. If you’re using a trading platform such as Evolve.Markets, you will be able to properly observe price fluctuations because of their comprehensive charts and monitoring tools. Evolve.Markets gives traders access to high leverage cryptocurrency trading on Metatrader 5.

In any case, when this move takes place, it indicates that there has been a buying or selling interest at its origin. Once this takes place, it is important not to chase the move but rather to wait for the price to return to this zone so that we can either buy or sell at a wholesale price.

A notable characteristic of a demand zone is that it would often times also act as a broad area of support. While it is truly broader than a typical support line, it does bear similar qualities. Price usually tends to jump off that zone, going in an upwards direction.

Supply zones, on the other hand, tend to act in a similar way as resistance levels. Again, they are broader but the price tends to go downwards after reaching them.

So, naturally, by looking at a longer term chart, you might be able to identify which areas in the price action tend to see supply or demand and base your moves on that. You’d want to purchase when you’re at the demand zone and sell at the supply zone.


When it comes to supply and demand trading, there are a few important things to be considered. Hence, here are four of the main principles to follow.


A supply zone typically tends to show narrow price behavior. Lots of candle wicks, as well as strong back and forth action often tends to cancel a supply zone for future trades. The narrower the zone before a strong breakout is, the better the chances are for a good reaction next time


As a general rule of thumb, you don’t want to see the price spending too much time at a supply zone. Good supply zones, as we said above, tend to be narrower and they don’t hold for too long. A shorter zone of accumulation works better for finding your re-entries during pullbacks which are aimed at picking up the open interest.


Coined by Richard D. Wyckoff, the “Spring” pattern describes a price movement which is into the opposite direction of the following breakout. It looks like a false breakout after the fact, but when it happens it tends to trap traders into following the wrong direction.


Keep in mind that each time the price revisits a supply zone, more and more orders which haven’t been filled previously are filled. Therefore, the level is continuously weakened. Hence, it’s better to make sure that the zone is fresh, meaning that the price hasn’t come back to it yet after the initial creation of the zone.

In any case, these are just a few of the rules that you might want to be following.

Disclaimer: This article is not investment advice and should not be construed as such. It is for educational purposes only. BCoingrapiq is not responsible for any investment decisions made by readers of the website. Always consult a trained financial professional before making any investment decisions and be prepared to lose your entire investment.

HTMLCOIN Signs a Partnership With BlockPay to Build a Blockchain-Based Transactions Protocol

CHICAGO, April 30, 2019 — The HTMLCoin Foundation has recently announced a partnership with BlockPay, a tech startup based in Ljubljana, Slovenia. Within the terms of the agreement, BlockPay will utilize the AltHash Blockchain to bring an extra level of confidence and security to its fiat transactions solution, while developmental and maintenance support of all blockchain-related structures will be provided by the HTMLCoin Foundation’s tech teams.

“Our team has developed a unique formula that allows international financial transactions with standard currencies without an intermediary. At the moment, we are well on our way to making a platform that will allow both online and offline transactions for all types of users, both individuals and businesses. BlockPay is seen as one of the largest online payment systems for the next 25 years,” explains Nejc Paradiž, BlockPay’s CEO.

The HTMLCoin Foundation and BlockPay partnership’s final product, based on BlockPay’s current proprietary solution, will be a fiat currency transaction system that will utilize a smart contract at the core of its validation and persistence processes, to perform secure and efficient fund transfers. All fiat transactions will be replicated in the AltHash blockchain, which will provide not only permanent storage for all transactions but also the indisputable privacy of cryptography.

This ambitious project has just entered its development stage, with a planned time frame of approximately two months for the deployment of the blockchain layer.

For more news about this exciting project, you can follow HTMLCoin and BlockPay latest news through the links below:

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24Hr BTCUSD Chart 4-27-19

1 hour time frame shows a horizontal movement since yesterday. RSI shows a horizontal movement averaging at 50, Stochastic RSI is way up to 75%, MACD 12,26 is at 0 and is about to cross moving up. There was an increase of 4.31% since the dramatic drop yesterday exacerbated by FUD.

1 day time Fame show a different picture. Relative strength Index of 63%, Stochastics cross at 30% showing an upward trend, and MACD is at high +225. Price ranges $5425 to $5430.00 at present time as this is written.

Hackathon with blockchain technology in Davao City – BLOCKATHON

The first Hackathon with blockchain technology in Davao City! Form a team of 3-5 people!


Blockathon is a 24-hour hackathon for developing ideas into solutions using blockchain technology. In this entire weekend, you will brainstorm, build, program and test your own blockchain innovation project. Build a team now of programmer, marketer, business development and sales enthusiast, and designer, and bring your idea to life. You’ll have a two full-day of hustling, learning from mentors, networking and preparing to pitch your awesome idea!


Create a team of 3-5. A good team has a good mix of expertise in programming, marketing or sales and design.


Blockathon will be at the Kadena Hub, Mabini St. corner Araullo St., Davao City

What is the minimum output expected over the weekend?

The hackathon will require each team to come up with at least a working prototype of their application/solution/idea. No need for full code. Each team is expected to show what their solution is about and how it works, and how they plan to market it.

What you should bring?

Other gadgets like charging cables, flash drives, external monitors or other technology you may need for the weekend
Extra clothes, toothbrush and other necessary toiletries.

A Revolution on Photography and Blockchain -Photochain

Photochain revolutionizes the status quo of photography trading. It is a decentralized, peer-to-peer image platform on blockchain with fair conditions, attractive incentivation mechanisms, lowest fees in the market and full control over the content, price and license type for the photographer. On the IPFS Photochain database, each uploaded photo is linked to a photographer through a blockchain transaction. This link cannot be removed or manipulated in any way. Photochain is in the pole position and ready to disrupt the monopolized photography industry with a great, experienced and influential team and board of advisors.

They recently won 3rd place in the ICO Pitch Competition at the Blockchain Leadership. Thanks to our attractive demo MVP, the judges could see envision exactly what the final product will look like in addition to what we will achieve for photographers.

They are partnered with the highly rated Blockchain Zoo (top 3 blockchain consulting firm world wide).

Photochain is created around 4 key pillars.

P2P Marketplace
They want buyers and sellers determine their own terms of sale, so we allow them to trade directly with one another. Using blockchain to remove the need for costly processing, we guarantee photographers to receive 95% of the earnings from their works. 

Easy Onboarding
A simple identity verification for all photographers. Unlike with traditional photostocks which require lots of prerequisites, a user can be actively selling work in minutes. The removal of prerequisites further allows the platform to be fully accessible and profitable to hobby, amateur and professional photographers alike.

Digital Copyright Chain
Their decentralized database ensures each uploaded photo is hashed into the blockchain and permanently linked to its owner. This link cannot be changed removed or manipulated in any way. Any further uploaded image is also hashed and compared to the existing DCC for copyright fraud. Additionally due to the permanent link, any misuse of the image outside of paid licenses is easily detectable. 

Crypto Economy
They are helping to build a crypto economy, where we have more control over our data. A fairer economy where you are rewarded for your work. They believe photographers deserve fair compensation for their efforts and their creativity.

We are not an employee nor a paid endorser of Photochain. We do not also advice readers to buy or invest on Photochain ICO. We create awareness on different industries where blockchain is being used or applied.

Reference: Bitcoin Wiki

Elon Musk Says “Cryptocurrency Is My Safe Word”

Elon Musk Says “Cryptocurrency Is My Safe Word”

Tesla and SpaceX CEO Elon Musk has said that “cryptocurrency is his safe word” in a tweet that was posted on April 13.

Cryptocurrency is my safe word

Related image

Musk was responding to a user who jokingly asked if Musk was secretly bitcoin creator Satoshi Nakamoto. The billionaire entrepreneur has spoken about bitcoin and cryptocurrencies extensively in the past, mostly on Twitter.

Musk has talked about cryptocurrencies several times in the past, even calling it “quite brilliant” and saying holders deserve a Nobel Prize for delayed gratification.

Musk has also joked in the past about Dogecoin being his favorite cryptocurrency. The Dogecoin Twitter handle polled followers on who they would like to see become the CEO of Dogecoin – and Musk trounced the competition. Musk obliged, changing his bio to read Dogecoin CEO and making a few tweets about the project.

Musk has appeared on the Joe Rogan Experience, the popular podcast that has also seen the likes of Jack Dorsey of Twitter (who also has positive words to say about bitcoin), though he had nothing to say about bitcoin or cryptocurrencies then.

Why Ethereum is More Than Just a Cryptocurrency

Most people are more or less familiar with Bitcoin and what it can do, but when it comes to the lesser-known Ethereum, it’s not uncommon to hear a pin drop in the room.

All about Ethereum

Ethereum is a public, peer-to-peer network or blockchain with its own cryptocurrency called Ether. It was created in 2014 by Vitalik Buterin, with the purpose of being a platform on which smart contracts can be built and run. Simply put, Ethereum is intended to be a world computer.

Where Bitcoin stores a list of balances and transactions on its blockchain, the Ethereum blockchain is designed to store different types of data.

This data can be accessed and used by computer programs running on the 

Ethereum blockchain. These programs are called decentralised apps, or dApps. Another significant difference between Bitcoin and Ethereum is that the supply of Bitcoin is capped at 21 million to ever be produced, while Ethereum is not capped to any specific quantity.

Developers around the world can build and run decentralised applications on the Ethereum blockchain.

The purpose of these is to improve the finance, personal information storage, governance, and other industries by using the transparent nature of blockchain.

Unlike the pseudonymous creator(s) of Bitcoin, Satoshi Nakamoto, we know quite a lot about the man behind Ethereum. Vitalik Buterin was a developer working on Bitcoin around the time Ethereum was first mentioned in a whitepaper in 2013. He believed Bitcoin should have been made to be more customisable and should go a step further than simply being a store of wealth.

Ethereum pioneered the ICO (initial coin offering), selling initial investors about 60 million Ether tokens while the project was still in development. Since then, Ethereum has grown substantially with multiple other projects having been developed and launched on the platform (with varying degrees of success).

More than just ‘money’

If we’re talking about what unique benefits Ethereum holds, we need to consider smart contracts. Ethereum aims to make everyday life more efficient and cost-effective by automating daily processes and removing the middlemen from the systems we use. These systems range from legal to financial, medical, and more.

So, why does this matter to you?

Let’s take a look at a practical example. Consider that someone has their personal documents: identity documents, a last will and testament, and a title deed for their house stored on the Ethereum blockchain. When they pass away, their death certificate will also be uploaded to the blockchain.

The processes that need to take place after a person’s death are highly admin intensive and take a significant amount of time due to the number of different parties involved in the process (i.e. legal professionals, the government, tax authorities, etc.). But, because all of these documents are stored on the Ethereum blockchain, the last will and testament can automatically be put into action.

Whichever next of kin the deceased chose to bequeath their house to will receive the transfer automatically, with no involvement from a legal professional (and no extra costs, either). Imagine the amount of time and resources saved due to the automation of this common and extremely stressful occurrence in life.

Smart cases for smart contracts

There are a whole host of other ingenious conceptual use cases for Ethereum. For instance:

Manage your digital identity

Identity theft and the unlawful use of personal data are some of the most rampant and concerning issues in the technology age. Through smart contract-based identity management programs, it’s possible to store and link your personal documents (identity documents, passports, etc.) so that the required details are made available to the trusted party when needed.

In this way, your information cannot be forged or copied and is always stored on the Ethereum blockchain for a specific purpose

— Wouldn’t that be nifty?


There are a number of blockchain startups leveraging the Ethereum blockchain to make accessing medical details and prescriptions easier and safer than ever. This allows for a single point of truth to exist on a public, decentralised network allowing doctors to access your accurate medical records with ease and making it harder for fraudsters to use your information nefariously.

Thinking back to the 2017 ransomware attack that affected around 16 hospitals in the UK and it helps us truly understand how a decentralised network could have prevented the entire ordeal

— Doesn’t that just make so much sense?

Third-party privacy

You know how when you spoke about the latest Adidas shoes to your friend last night and woke up to a flurry of Adidas shoe adverts on your social media platforms this morning? Although it may seem a scarily intuitive marketing ploy, it’s also the unethical harvesting of your personal data (and personal conversations). And if that doesn’t bother you, it might bother you slightly more to know how much money big corporations are making of off your personal information without you even knowing about it, let alone having your consent.

Ethereum’s blockchain technology could drastically decrease the possibility of data collection by logging every time a search engine or third-party application uses your data. These logs would be kept public on the blockchain, meaning it would be a lot more transparent (and riskier) for these multi-billion dollar companies to essentially steal your data.

— Only then would we able to truly choose who to share our data with.

To infinity and beyond

It’s still early days and we haven’t yet witnessed any practical use of Ethereum in the mainstream. Again, there are a whole host of other ingenious conceptual use cases for Ethereum. But no matter who you are, at least one of these possibilities should matter to you (unless you’re a cat or something). It’s encouraging to see the number of talented people working in this space, and we’re very interested to see how the Ethereum blockchain develops, and for when and how it becomes more prevalent.