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What is NEO GAS

NEO sometimes referred to as China’s Ethereum was founded as AntShares (ANS) by Da Hongei in 2014.

GAS is a dividend that NEO holders get for holding NEO. GAS dividends also accumulate as users pay in GAS to deploy and run smart contracts on the NEO platform.

On 2/17/2018 NEO was priced at $135 and GAS at $48.

How does NEO accumulate

The GAS dividend amount decreases about 10% each year. In year one, you accumulated 0.5 GAS per 1,000 NEO coins held. You can find out the latest amounts in the neotogas.com website.

GAS is only paid if you hold NEO in your private wallet, or if you hold NEO on the Binance exchange. Binance makes monthly gas payouts.

GAS can be traded on cryptocurrency exchanges just like NEO. App providers on the NEO network need to either buy GAS or buy NEO to use the GAS dividend to pay for resources on the NEO network.

From the NEO Reddit page:

Attention new investors: holding NEO generates GAS from NEO

The Truth about Tether

 
Tether is an unregulated cryptocurrency token whose issuer, Tether Limited, claims each Tether is backed by one U.S dollar
 
Tether provides investors with the safety of the U.S dollars on exchanges that do not use fiat.
 

 Founded in 2015, Tether is closely related with Bitfinex, which is currently ranked the third largest cryptocurrency exchange in the world. Bitfinex handles a daily trading volume of around $2 billion.

Tether has been releasing more tokens into the market. In January 2017, Tether released 850 million tokens.  The increase in Tether circulation has coincided with the increase in cryptocurrency prices.

Analysts claim that printing additional tether moves the cryptocurrency markets. During the timeframe that Tether has been adding tokens to their circulation supply, BTC had appreciated almost 50%.

Tether Facts

 
  • Originally issued on the Bitcoin blockchain.

  • Currently running on the Litecoin blockchain through the Omni Layer protocol.

  • No audits are publicly available to back claim the claim that each unit of Tether is backed by one USD.
  • Currently ranked at number 17th  market cap

  • Circulating supply as of 2/11/18 2,217,140,814 USDT
  • Total market cap as of 2/11/18 $2,232,084,343
  • Tether audited bank account as of September 2017 was $442,481,760.
  • On January 31, 2018 Tether issued 850 million new tokens.

Based on its current market cap and the amount of tokens in circulation, Tether needs to verify that it holds $2.2 billion in reserves. If it doesn’t and if their is any truth to accusations of price manipulation of BTC, BTC could lose even more market cap and a run on Tether can cause it to drop way below $1.

 Current State

  • Tether and Bitfinex are under scrutiny by U.S. regulators. The U.S. Commodity Futures Trading Commission sent subpoenas on Dec. 6 to virtual-currency venue Bitfinex and Tether.
  • Tether cut ties with the accounting firm that “audited” them in September 2017.
  • Tether has failed to prove how much money is backing its token.
 

Reference

https://en.wikipedia.org/wiki/Tether_(cryptocurrency)
https://tether.to/
https://bitcoinmagazine.com/articles/warning-signs-timeline-tether-and-bitfinex-events/
https://www.cnbc.com/2018/02/02/tether-what-you-need-to-know-about-the-cryptocurrency-worrying-markets.html

 

A Brief History of Bitcoin

2008
– Bitcoin.org domain is registered.
Satoshi Nakamoto authors Bitcoin whitepaper titled Bitcoin: A Peer-to-Peer Electronic Cash System

2009

– Bitcoin mining begins.
– Hal Finney receives 10 Bitcoins from Satoshi Nakamto in the first Bitcoin transaction.

2011

– WikiLeaks accepts donations in Bitcoin.
– Bitcoin achieves parity with the U.S dollar.

2013

– Bitcoin price reaches $1,000 and shortly after crashes to $300.

2017

– Bitcoin reaches $20,000.

 

 

A Brief History of Bitcoin

 

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