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Dominik seemed to be a veteran in business with crypto. For six years now South Tyrolean has been busy with Bitcoin Co. – he himself is just 21. “I’m in slid,” says shone. It started with computer games. As a 14-year-old he was world’s number one in popular shooter “Call of Duty”. “But just because I’ve hacked,” laughs more seemed. But through small and larger scams with which he was able to gain advantages in games, entry into computer World began. He began to use his knowledge and to sell or players virtual games accessories and or things. And he invested profits into Bitcoinbusiness, more precisely he worked as a Bitcoinbuchhalter.
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All transactions in digital currency are verified by users on network and n stored in so-called Blockchain. This is actually just a long chain of data blocks. A new block is added every ten minutes by storing last transactions. However, in order to create block, complex computational operations are necessary, which lead to so-called miner. One of m was more seemed. As a reward, you get self-Bitcoins, which are scratched during mining. “I’ve earned quite a lot of money re,” says Shone. Enough to take 2013 to Switzerland, to famous “Crypto Valley” in Zug, where, because of favorable tax rates and friendly regulatory conditions, countless makers of digital currencies have ir formal seat. There, he founded his first start-up and wanted to build a trading platform for crypto. Instead, he experienced how changeable crypto-doing could be: A year later re was a first crash. “I’ve lost all my money,” recalls. Well, half a million euros was gone as quickly as she had come.
The bitcoin had its value in three months five and had risen at end of 2013 to n insanely appearing price of more than 1,000 dollars. But n he fell back almost to 200 dollars. And only at beginning of 2017 he managed to re-create 1,000 mark, with which he began new even more extreme soaring.
Up to 20,000 dollars The bitcoin climbed, became a party talk and made it to Daily Show. From recent boom also benefits seemed. However, he has long since left bitcoin behind. Instead he moved to Berlin and began to develop his own Kryptowährung called IOTA with Norwegian David Sønstebø.
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It is said to be ” backbone of an autonomous economy of machines”. “If you want to exploit potential of internet of things, you have to allow machines to pay for each or,” says Shone. He is not alone with this idea. If autonomous vehicles transport passengers in next few years, y should also pay for fuel or car parks alone. “When vehicles pay for mselves for charging or parking, y need safe technology,” says Johann Jungwirth, chief digital officer at Volkswagen. That is exactly why he has already met with a more well-known solution, car manager calls “highly exciting”. The development is still in its early stages. And yet or large corporations also have interest. Deutsche Telekom, Microsoft, Innogy and Volkswagen are among companies that are currently looking at IOTA or are already experimenting with it. Bosch is also one of partners, Stuttgart at end of December bought “a significant amount” of IOTA coins and now want to develop joint projects.
The course of IOTA has also risen rapidly over past year: from less than 20 cents in summer to some more than five dollars. At times, IOTA was one of five most valuable crypto in world. Lastly, it was ranked ten with a market capitalization of over ten billion.
Because re are now more than 1,300 crypto that make bitcoin competitive. Some of most promising ones like Eben IOTA or Ereum are being developed in Berlin. “Berlin is Kryptohauptstadt of Europe, if not world,” says Ereum developer Fabian Vogeler. He sees latest hype with mixed feelings. Bird-setter was also surprised by enormous increase and would have expected a bitcoin crash much earlier. Therefore, many long-time connoisseurs of scene are reluctant to forecast. “I have no idea where it goes,” says Bird-setter. From a large, long-lasting slump to a multiplication in three or four years, everything seems possible. But course development is also secondary for many protagonists. The development of still young Blockchain technology, which is still at very beginning, is more decisive. Many compare current development with advent of Internet. For search engines and networks, re were also first-time providers like Lycos or MySpace, until Google and Facebook got through. “At crypto we are still in Lycos and MySpace phase,” says star investor Klaus Hommels, who himself invested early on Facebook or Skype.
