Monero
Robert Wiecko of DASH Core Group – Cointelegraph Magazine
Published
4 Monaten agoon
By
Robert Wiecko is getting back into playing electric guitar. Armed with his brand new Fender Stratocaster, the COO of DASH Core Group is reliving his youth as a high school student living in Poland.
“It’s an amazing feeling to restart something you loved so much and forgot for some reason.”
Playing guitar gives him a sense of freedom and peace, he explains. Learning to play again is not just entertaining, but acts as a sort of meditation. Focusing on the skill, he frees his mind from the usual demands and stresses of the day.
The notion of freedom is what drew him into the blockchain space in 2011. Working in software development in the financial sector for much of his career, Wiecko recognized serious flaws in the system. “I realized there’s something wrong with the financial system in general. Bitcoin appeared to me as a fantastic thing. Back in 2011, it was for geeks, and I was a total geek.”
Despite this initial fascination with blockchain technology, Wiecko felt he was not up to the task of exploring it initially, due to a multi-year bout with ulcerative colitis, an inflammatory bowel syndrome. “It’s a very nasty disease, incurable for western medicine. My life was almost ruined by the disease.”
But Wiecko was open to exploring alternative approaches to rid himself of the illness. He learned that western doctors only offered medicines to mitigate symptoms, but not to cure the disease. In Poland, alternative medicines were frowned upon and perceived as illegitimate. “I said, ‘Well I disagree with that, I’m not going to be sick until the end of my life and consume chemical substances to maintain the status quo.’”
He did his own research — an oft-repeated adage in the crypto realm — and discovered a range of methods from Chinese and Tibetan medicine that, when combined with a disciplined diet and meditation, eradicated the disease.
After three years of this change in mindset and healthier living, he returned to his doctor who found that Wiecko had successfully cured the illness. “The doctors were shocked,” he explains. Tests found no remaining evidence of the disease.
“Mainly it was the mindset and lifestyle changes that helped me to recover. I’m happy. I’m one of many cured from this type of disease. It’s an unpopular narrative in the mainstream, driven by pharma companies” he says.
Alternative medicine, alternative finance
Wiecko draws parallels between delving into alternative medicine and exploring blockchain technology. An IT expert specializing in Java and Oracle development, the concept of decentralization was a revolutionary idea to him. In its earliest days, the crypto world was filled with idealists: Libertarians, Wiecko explains, were the dominant force in the space. He was excited to join a growing movement motivated by positive ideals.
He briefly tinkered with the speculative side of the industry but found that he was, unfortunately, a terrible trader. Instead, he started to get involved with technical teams. “There was no chance to join Bitcoin teams. I was not sophisticated enough.” But Wiecko found a few small projects where he could contribute.
Unfortunately, most of these smaller projects were really in it for a quick buck, he realized. The formula was becoming familiar: create a coin, make a bunch of money, and abandon the project. “It was not what I was looking for.”
Wiecko expressed his frustrations with the pump-and-dump state of affairs in the crypto market on a Polish forum, where a friend recommended he look into Darkcoin, a fork of Litecoin created by Evan Duffield. The community and vision of the project stood out, and he connected with Duffield to offer his services as a project manager. Even though the team was tiny at the time, Duffield hired him for the project. The Darkcoin name was changed to DASH that same year.
You have no idea… it was pure communism
Born in socialist-era Poland, Wiecko knows a thing or two about the other side of freedom. “You have no idea what life was like in Poland in the 70’s. It was pure communism.”
“America was always presented as an evil part of the world. We didn’t believe it, but the media campaign was always going into your head. It was propaganda.”
The Orthodox Catholic family lived in the countryside of an especially poor region. Despite their struggles, his parents instilled in Wiecko a moral compass that he follows to this day, even though he is not religious like his parents.
Moving to a nearby city, Wiecko had the rare opportunity to experiment with computers when his school bought three and offered programming classes. People were lucky just to have a telephone in their homes at the time, he explains, so owning a personal computer was an impossibility. Gesturing that his head is exploding, he expresses his enthusiasm when first encountering computers, “BOOOOOOOOM! I want to do this!”
“I loved computers from the very first experience. There was a magic behind programming. It was the time I knew my life would be connected to computers.”
The world gets bigger
As communism began its decline in Poland, the west beckoned. While his father went abroad to earn money to support the family, Wiecko attended a technical high school where he learned about robotics and automation. He picked up his guitar habit, jamming on Slayer and Metallica with friends, but dropped the instrument when he dedicated himself fully to his IT studies with a major in software engineering.
His first job as a Java developer in Warsaw was short-lived. He worked with a friend in a startup that failed in its first year, collapsing during the imploding dot.com bubble. Wiecko was in dire straits — he had money for nothing.
“I was literally standing on the street with one bag in my hand. All of my clothes and possessions were in this bag. And I had in my pocket around ten dollars. It was all my money. I could buy a ticket and return home to my parents, or I could start doing something by myself.”
Wiecko called up a few friends who gave him a place to stay until he found a new job with a consulting company. “I’m really grateful to them,” he says, “If you build good relationships, your friends will help you.”
Soon, he was working “from the inside” as a technical consultant in finance for entities such as the National Bank of Poland. As a developer, he was obliged to learn about the inner workings of the financial system in order to develop for the needs of his clients. He began to see that the system was broken. “Being an insider, I started to realize — uh-uh — it’s not so perfect.”
After joining Hewlett-Packard, Wiecko shifted the focus of his work toward less technical elements, working more closely with people as a project manager. He spent more of his time dealing with clients and facilitating cooperation between departments.
Despite his career success, Wiecko was frustrated with his health issues and decided to move out of Poland to Switzerland, where alternative medicines were perceived more positively and the standard of living was much better. As his health improved, he began spending more of his time in the blockchain space, working on a range of projects before landing with the DASH Core team in 2015 as project manager.
Working in the traditional finance industry for UBS by day and then fighting the system in his crypto work during evenings and weekends, Wiecko felt a sense of schizophrenia. He decided to leave his traditional bank job to dedicate himself fully to crypto. “I loved crypto. I loved the libertarian ideas. At that time, everyone was talking about freedom, about privacy, about the necessity of changing finance, about giving back financial freedom to people. I really believed in that and I still believe in such ideas.”
That’s why Wiecko is involved with DASH, he explains. He sees a genuine vision behind the project, one whose goals are not just about making fast money. The creator of DASH, Evan Duffield, had proposed ideas for innovating on Bitcoin, but was not heard, he says. So, he started DASH, forking off Litecoin as Darkcoin. This enabled improved speed, privacy, and governance, making the technology useful — not just for trading, Wiecko insists, but for everyday applications.
“When I heard this for the first time, I realized okay, this is the project and place for me. They have clear business goals and a vision on how to get there.” In 2015, he says, Bitcoin had a clear vision, but most other coins were merely about speculation. “I could say, at that time, 95% of them were trash.” DASH stood out to him as one of the few exceptions. Even to this day, Wiecko admits, “The ratio has improved, but not by much.”
Master nodes and Bitcoin tickets
A major innovation of DASH is the concept of master nodes, Wiecko explains. At the time of its inception, projects were mostly similar to Bitcoin, having only a single layer of nodes. The DASH team realized that a second layer of master nodes could enable enhanced privacy with low-cost, instant transactions and a range of more sophisticated features. The layer could be incentivized to make it self-sufficient and decentralized. While standard nodes would provide hash power and a layer of security, the master node layer could provide a much greater range of software services.
Over the course of time, DASH master nodes have evolved to become a decentralized protector of the network, with 5,000 master nodes distributed around the world ensuring security. ChainLock technology prevents any possibility of a 51% attack on the DASH network. An upcoming new release will allow developers to create applications on the master node layer. He expects it will be released to testnet by the end of this year.
Now the COO of DASH Core Group, Wiecko works less directly with projects, but maintains a substantial list of responsibilities including managing procedures, QA and infrastructure, communicating with teams, complying with regulatory requirements, and even managing a service desk. Uniquely, DASH users can submit tickets to the service desk and receive support for technical problems. With Bitcoin, he says, “if you have a technical problem, where do you submit your ticket?”
Wiecko explains the company’s goals focus on the user, eschewing the usual hype and subsequent price speculation. “Most of the time it’s about the price. We want to change this narrative and present crypto as user-friendly. It’s actually an alternative for a person. The greatest example of this is Venezuela.”
DASH successfully provided a fast and cheap alternative for users to transact value in the hyper-inflated economy, Wiecko says. “For these poor people who earn five dollars a week, or even a month, this was something really great. They could not rely on their own currency. The dollar was not really available. Bitcoin transactions were expensive as hell…”
“For you and me,” he says, “if a Bitcoin transaction costs a dollar, it’s a cost we can afford.”
“But for those people who live from one dollar a day for an entire family, this is one day of their life. When the transaction costs five dollars, that’s a disaster.” In such situations, Bitcoin is not useful, he says. It can successfully store value, but it can not be used for quick and affordable transactions. Venezuelans needed an alternative and, he says, they found it with DASH.
DASH Core Group continues its focus on everyday utility and accessibility, sharing information about development progress with quarterly calls. These meetings provide transparency to the community who can be updated on the project’s progress and the challenges it faces. The focus, again, is on the user, Wiecko reiterates. “It was a conscious choice, we have chosen to spend our time developing user-friendly solutions and not focusing on charts, CoinMarketCap, volumes, prices, etc. but just to provide solid software.”
A shift in the narrative
Wiecko observes that the industry has changed in recent years, shifting from ideals centered on freedom to an obsession with speculation and more recently, regulation. In the earliest years, everyone was talking about freedom, alternative finance, helping the unbanked, and enabling financial freedom, he says. “It was the time when people in jackets and ties started to appear at the meetups and conferences. Two years later in 2018, everything switched to regulation, compliance.”
He explains that he understands the reason behind the shift, but he is not happy that the industry is so heavily focused on trading, banks and regulations. “People forget this first goal; why Bitcoin has been created. Bitcoin is the father of all cryptocurrencies. I have a lot of respect for Satoshi, to all the old timers and current Bitcoin development teams. However, sometimes I feel that the entire space forgot why we have been working so hard for such a long time. It wasn’t for trading. It wasn’t to be compliant. Totally not.”
Wiecko hates the “Lambo” narrative, he says, but acknowledges that it brought many people into the space. He hopes the get-rich-quick sentiment will fade over time and give way to true utility instead.
Crypto in general, he says, remains horribly clunky from a user perspective. It’s too complicated and technical for the average person, with horrible addresses that are not understandable. DASH Pay Wallet is designed to make this process much easier and more intuitive. Wiecko enthuses, “it will be a game-changer.”
He believes that crypto needs to innovate not to please banks and regulators, but to please the user. It can serve as an alternative financial system in the western world but much more so in the unbanked world. Mobile devices open up possibilities for users to gain more independence and freedom, accessing crypto technology in their everyday lives.
The concept of freedom becoming widely available to people everywhere really gets Wiecko excited, as he recalls his youth living under an oppressive regime. “I can not understand how some people nowadays say openly that they want socialism. I was living in socialism. You have no idea what you’re talking about.”
“I remember deaths on the streets. I remember total control of everything. And that’s why those libertarian ideas are so important for me. Everything I do, I am focused on freedom, liberty, and human rights.”
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December is proving to be another blockbuster month for Bitcoin as the flow of institutional investors injecting funds into Bitcoin continues to increase.
Business intelligence firm MicroStrategy announced that it had raised $650 million worth of convertible bonds at a rate of 0.75% due in 2025. The company now plans to invest the net proceeds in Bitcoin after identifying its “working capital needs and other general corporate purposes.”
When institutional investors show such a large appetite to buy Bitcoin (BTC) near the all-time high, it is no surprise that the corrections have been shallow.
Tyler Winklevoss said in a recent interview with CNBC that institutional investors are worried about the “oncoming inflation and the scourge of inflation with all the money printing and the stimulus from the COVID pandemic lockdowns.” Hence, they have been putting money into Bitcoin.
Today, Bitcoin price surged back above the $19,000 level and it may challenge the psychological $20,000 resistance. If this level is broken out with conviction, it may create FOMO among retail traders as many have not participated in the current rally.
If money from retail investors also starts gushing in, then Bitcoin could pick up momentum and start the next leg of the up-move.
Along with Bitcoin, there are a few altcoins that may participate in the up-move next week. Let’s study the charts of the top-5 cryptocurrencies in order to spot the critical support and resistance levels to watch out for.
BTC/USD
Bitcoin closed below the 20-day exponential moving average ($18,435) on Dec. 10 and 11. However, the long tail on the Dec. 11 candlestick shows that the bulls purchased the dip instead of panicking and dumping their positions.

The price rose above the 20-day EMA on Dec. 12 and this could have trapped some aggressive bears who went short in the past few days expecting a sharp fall. This short covering and buying by the bulls pushed the price above the descending channel today.
The price has again reached the $19,500 to $20,000 overhead resistance zone. If the bulls can thrust the price above this zone, the next leg of the uptrend could begin.
Conversely, if the price again turns down sharply from the current levels and plummets below $17,500, it could signal that a short-term top is in place. Such a move could pull the price down to the next support at $16,191.02.
The 20-day EMA has started to turn up and the relative strength index (RSI) has rebounded off the 50 level, which suggests that bulls have the upper hand.

The 4-hour chart shows an ascending triangle formation, which will complete on a breakout and close above the overhead resistance zone. This setup has a target objective of $23,576.
However, the bears are currently attempting to stall the up-move at the $19,500 resistance. If the price turns down from the current levels, the bulls are likely to buy on any dip to the 20-EMA. A strong rebound off this support will improve the prospects of a breakout above $19,500.
This bullish view will be invalidated if the BTC/USD pair turns down from the current levels and breaks below the trend line of the triangle.
A breakdown of a bullish setup traps several aggressive bulls and that could result in panic selling. If that happens, a drop to $16,191.02 may be on the cards.
ETH/USD
Ether (ETH) has broken out of the descending channel, which suggests advantage to the bulls. The price can now move up to the $622.807 to $635.456 overhead resistance zone.

The RSI has bounced off the midpoint and broken out of the downtrend line, which suggests that bulls have the upper hand.
If the bulls can push the price above the resistance zone, the next leg of the uptrend could begin. Although there could be some pit stops in between, the next target is $800.
On the other hand, if the ETH/USD pair turns down from the overhead resistance but does not give much ground, it will be a positive sign and will increase the likelihood of a breakout of the resistance zone.
This bullish view will be invalidated if the price turns down from the current levels and re-enters the channel. Such a move will suggest that the current breakout was a bull trap.

The 4-hour chart shows an ascending triangle formation, which will complete on a breakout and close above $622.807. The moving averages on the verge of a bullish crossover and the RSI is in the positive territory indicate that bulls have the upper hand.
This positive view will be invalidated if the price turns down from the current levels or the overhead resistance and breaks below the triangle. Such a move could result in a drop to $488.134.
XMR/USD
Monero (XMR) completed an inverse head and shoulders pattern on Dec. 7 but the bears quickly dragged the price back below the neckline on Dec. 9. However, the bulls again purchased the dip to the 20-day EMA ($133) and propelled the price back above $135.50 on Dec. 11. This suggests aggressive buying at lower levels.

The upsloping moving averages and the RSI above 66 suggest advantage to the bulls. The target objective of the breakout from the bullish setup is $167.
However, the bears may have other plans. They are likely to defend the psychological level at $150. If the price turns down from this resistance but rebounds off the $135.50 support, it will suggest that bulls are accumulating at lower levels.
On the contrary, if the price drops below the $135.50 support and the 50-day SMA ($124), it will suggest that the bears are back in the driver’s seat.

The 4-hour chart shows the formation of an ascending triangle pattern that completed on a breakout and close above $142.50. However, the XMR/USD pair has not picked up momentum and the price is stuck inside the $142.50 to $150 range.
If the bulls can thrust the price above $150, the uptrend could resume with the next target at $162.50. The upsloping moving averages and the RSI in the positive zone suggest that the path of least resistance is to the upside.
XEM/USD
NEM (XEM) soared on Dec. 12 and the price reached the $0.27688 overhead resistance today. The bears are currently attempting to stall the up-move at this resistance.

However, if the bulls do not give up much ground from the current levels, it will suggest that traders are not booking profits in a hurry. That could keep the price range-bound near the overhead resistance.
The upsloping 20-day EMA ($0.209) and the RSI near the overhead resistance suggest that the path of least resistance is to the upside. If the bulls can propel the price above $0.27688, the XEM/USD pair could move up to $0.3564607.

The bears are aggressively defending the overhead resistance. If the price rebounds off the 20-EMA, it will enhance the prospects of a breakout of $0.27688. The upsloping 20-EMA and the RSI in the positive zone suggest bulls have the upper hand.
Contrary to this assumption, if the price breaks below the moving averages, a drop to the trendline is possible. A break below this support will suggest that the bulls have lost their grip.
AAVE/USD
AAVE is trading inside an ascending channel. The price turned down from the $95 overhead resistance on Dec. 8, but the positive sign is that the bulls have purchased the dip to the 20-day EMA ($77).

The RSI has once again bounced off the midpoint and the 20-day EMA has started to turn up. This suggests that the correction may be over and the bulls are back in control. The first target on the upside is a retest of the $95.
If the bulls can push the price above $95, the next leg of the up-move could begin. The $100 psychological level may act as a resistance but if the bulls can drive the price through it, the AAVE/USD pair could rise to the resistance line of the channel at $112.
This bullish view will be invalidated if the price turns down from the current levels and plummets below the support line of the channel. Such a move will suggest that the trend has turned in favor of the bears.

The price turned up from $70.564, just above the support line of the ascending channel but the bears are attempting to stall the relief rally at $86.14.
If the bulls can push the price above this resistance, the pair could rise to $95. A break above $95 could start the next leg of the uptrend.
On the other hand, if the price turns down from $86.14, the pair may form the right shoulder of a possible inverse head and shoulders pattern. This view will be negated if the price dips below the $70.50 support.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.
Monero
19-year-old Ukrainian politician reports crypto holdings of $24M in Monero
Published
3 Wochen agoon
Dezember 9, 2020By
A newly appointed official in Ukraine has officially declared his cryptocurrency holdings, including a significant amount of privacy-focused cryptocurrency Monero (XMR).
Rostyslav Solod, a 19-year-old deputy of the Kramatorsk regional department and the son of Ukrainian politicians Natalia Korolevska and Yuriy Solod, reported holdings of 185,000 XMR, worth about $24.5 million at publishing time.
According to a declaration published on Dec. 2, Solod became the owner of this Monero fortune back in March 2015, when he was 14 years old.
At the time, Monero was trading at around $0.50 per coin, meaning that the market price for this acquisition was around $90,000. According to the declaration, this acquisition cost Solod’s family 1.6 million hryvnias (about $65,000, according to the exchange rate in March 2015). The declaration indicates Solod’s Monero holdings as property.
In March 2020, the Ukrainian National Agency on Corruption Prevention released a set of guidelines for officials to report their crypto holdings. Public officials should disclose the name of the assets, the purchase date, the quantity and the overall value of the crypto on the last day of the reporting period.
However, according to Michael Chobanian, a major crypto advocate in Ukraine, these recent requirements are poorly enforced. He told Cointelegraph:
“Right now there is no penalty for not providing the correct information in the declaration and […] they can just write anything. And no official government organization has the tools or skills or ability to check how much crypto you have or whether you actually have it.”
Chobanian further suggested that some officials could claim to own crypto in order to hide illegal assets. “You can even probably declare 100 million BTC, because no one would understand and check,” he said.
Monero
Bulls eye the $19.5K resistance but low volume keeps Bitcoin price sideways
Published
3 Wochen agoon
Dezember 8, 2020By
Today was a relatively uneventful day for Bitcoin (BTC) as the price continues to consolidate into a tighter range.
As mentioned by Cointelegraph contributor Rakesh Upadhyay, Bitcoin price spent the weekend consolidating within a bull pennant and the breakout to $19,418 was quickly stamped out by overhead resistance.
After retouching the pennant trendline, the price gave way, falling below the 20-MA on the 4-hour time frame and briefly losing the $19,000 mark.
Generally, most traders seem to agree that after a raging 93% rally from $10,300 to $19,888, a period of consolidation is necessary. Cointelegraph analyst Micheal van de Poppe said:
“On the higher timeframe, Bitcoin is still acting as it was last week. We are still acting in the all-time high resistance zone. I still have my eyes on $16K, which we bounced from, and $14K as these areas still could be retested as support. Holding $19K is important and if we have a daily close below $18.9K I think we’ll fall through.”
On the daily and 4-hour timeframe traders will note that the price is still notching lower highs and higher lows, a sign that the price range is beginning to narrow.

Currently the price is still holding within the pennant trendline as support but a breakthrough the structure will require a high volume move as there is persistent overhead resistance at $19,500.
As mentioned in previous analysis, a drop below the $18,800 level will see BTC search for support at $17,900, and below that the $16,000 to $15,750 range.
For the short term, risk-averse traders are likely to keep a close eye on the 4-hour chart to see if the price can again find support above the 20-MA in order to burst through the pennant. It is imporant to note that this move will require signifanct volume to avoid rejection in the $19,400-$19,500 resistance zone.

Typically, during Bitcoin’s consolidation phases altcoins pump higher but that has not been the case this time.
While a selection of DeFi tokens and other obscure altcoins have moved higher, the majority of the top-20 coins are in the red today.
This is possibly due to the fact that investors are reluctant to shift funds into altcoins while the Bitcoin price is in such an indecisive position.
Experienced crypto investors know that a strong bullish breakout from BTC could result in altcoin-to-BTC pairs being crushed, whereas a bearish breakdown in BTC price tends to result in BTC and USD altcoin pairs receiving an equally catastrophic pummeling.
A few standouts of the day are, AAVE with a 8.54% gain, Monero (XMR) which moved 5.19% higher and Waves (WAVES) which has rallied 6.23%.
According to CoinMarketCap, the overall cryptocurrency market cap now stands at $566.5 billion and Bitcoin’s dominance index currently at 62.6%.
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