UltraNote Closes Out Challenging 2018 with Exciting 2019 Roadmap
If the king can fall, nothing can protect the noblemen, lords & peasants.
2018 proved to be a long, brutal year for cryptocurrencies. And of course, UltraNote sure received its fair share of beatings as bitcoin, the king of cryptos, tumbled from all-time highs just over $20,000 on December 18, 2017 to slip below $3,300 a year later, dragging the entire cryptocurrency sector down with it. No doubt the past fourteen months have been stressful for technology enthusiasts and visionaries alike. So would it be unfair to say that what drove cryptos to their record-high $713 billion market capitalization in 2017 were the exact factors that inexorably coerced the crypto markets to their knees?
Let’s make a quick buck.
Apparently, powerful financial forces seeking to make a quick buck were willing to ruin what the crypto markets had taken several years to achieve. Questionable ICOs, unprincipled forks, deceitful exit scams, both hacked and “hacked” exchanges, unwise costly marketing campaigns claiming extraordinary yet unrealistic developments in coordination with “pump and dump” groups have all contributed to a pervasive loss of investor confidence in cryptocurrencies and the blockchain to represent critical financial infrastructure improvements necessary to escape the current global central bank debt-based fiat money system. Indeed, what was intended to create a brighter future for the planet’s peoples very quickly became a big deception for the masses.
Consequently, most investors have watched their hard-earned cash evaporate. Major mining farms have closed down. Developers, on the other hand, have had no other choice than to work with what was left to fuel the growth of their projects as coin and token values plummeted to unbelievable lows. In fact, the damages are much wider than we can ever imagine. How long and to what degree the devastation will continue to spread is still unknown. Even as Bitcoin has recently recovered from 2018 lows, many crypto projects and sector support services struggle to survive, with exchanges in particularly, feeling the financial pangs of subdued investor interest.
What really happened in 2018? Was it really that bad?
The 2018 kick-off was not very exciting as we went through a choppy first quarter but we never imagined the fall from grace would turn so bitter. The FUD generated from some highly unfavourable situations was a major contributor to 2018’s descent into a financial hell. Japan, together with South Korea, implemented and enforced new regulations on crypto exchanges, as well as cryptocurrency investors. After banning domestic ICOs, China then banned Chinese investors from participating in foreign ICOs. During the first half of 2018, both Google and Facebook banned cryptocurrency ads which considerably slowed down awareness-building opportunities for legitimate crypto projects. In addition, the American Securities Exchange Commission (SEC) sent investors mixed signals by first declining all applications for bitcoin ETFs and then days later announced a review of that decision, which is still pending.
The G20 Group, for their part, have delayed until later this year their intentions to institute a common set of rules and regulations for the cryptocurrency market, which in broader terms, has further undermined the legitimacy of the industry. Globally, hacked crypto exchange losses during 2018 in excess of a billion dollars have also negatively impacted investor confidence in the safety of their investments in the industry. Ongoing securities classification debates, illegal ICOs, suspected price manipulation, and other fraudulent activities were also on the US DOJ 2018 investigation list, raising even more suspicions towards the credibility of our industry.
Nevertheless, it is unreasonable to say that the last year or so was a total disaster. Wise investors are labeling 2018 as the cleansing year or the big shake-out when markets took the opportunity to rid the sector of parasites and wannabes before making its real moves much higher. Overall, 2018 was the year when many unwanted market actors deliberately unleashing chaos with their malpractice upon crypto and blockchain investors were decimated.
It’s all about perception & emotions.
Aside from the torments, seriously positive events, which would have traditionally sparked strong optimism and credibility in the sector were we not already contending with such monumental adversity in the first place, have done little to buoy investor sentiment. As far as money is concerned, negative perceptions and fearful emotions do not bolster optimism in the masses. Have you ever over-payed for a certain product but you bought it anyway because it made you feel great while on the other hand pass up a tasty dish because the presentation was not very inviting? Unfortunately in 2018 the market did not represent true values of legitimate projects in the industry for quite similar reasons but it’s just a matter of time before cautious pragmatic investors realize they are on the wrong side of a massively undervalued industry. The last year’s 85% market correction is the proverbial second chance for which we always crave, but rarely encounter.
Believe it or not, the cryptocurrency case outlook has never been as positive as it is right now. In late 2018 the EU Commission finally acknowledged cryptocurrency as an asset class. The Nasdaq stock market is building cryptocurrency analytics tools, presumably to aid future traders and investors. Citigroup, along with Goldman Sachs, has started exploring regulatory compliant cryptocurrency custodial solutions. Blockchain smartphones are going mainstream with the launch of Samsung S10, among others. There are strong indications of keen interest in fueling mass adoption by major US retail chains, as well as international corporate behemoths. Even Starbucks just recently announced it will soon be accepting digital assets as payments, leveraging their relationship with Bakkt. What else does the general population need before realizing cryptocurrencies will continue to usurp fiat currencies around the globe and are here to stay?
Regulation is key for mass-adoption; but does it really matter?
Followers wait for uncertainty to dissipate while leaders shape the future. Why would anyone wait for a train to announce itself before commencing towards the station? Shouldn’t we already be there waiting to occupy the best seats? Did we not learn from Amazon, Microsoft, Apple or Intel in the early 2000s? So many investors missed those amazing opportunities. Do we need to personally repeat history? Though regulation is critical for mass-adoption, does it really affect those willing to perform their due diligence? Since regulation is the safety net created to purportedly protect us from illegalities, some would say, “yes” and await its enactment before jumping all in, but as a matter of fact, a considerable and growing number of retailers and financial institutions have already made the plunge into the amazing future cryptocurrencies have in store for us. At the end of the day, isn’t being able to spot future trends the difference between a visionary and the average Joe or Jill?
“You only find out who is swimming naked when the tide goes out.”— Warren Buffet
For sure, 2018 was a crazy but fruitful time at UltraNote. We persevered haters confidently claiming XUN was either a scam and/or would not survive its first year. They tried whatever they could to bring us down: full-on frontal assault with ASICs, back-to-back 51% mining attacks, rogue unofficial mining pool operators, accusatory personal attacks upon individual developers and/or the community; you name it. We even had to temporarily close-source our code to perform the necessary adjustments to strengthen XUN algorithm. But guess what, guys… we are still here and our code open-sourced once again. Our community has grown stronger and UltraNote has consolidated its position as a leading legitimate contender for a mass-adopted privacy coin pursuant to the betterment of humanity.
Moreover, what really makes XUN unique and has allowed us to safely navigate the year can be reasonably attributed to the fact we do not have huge expenditures on fairy tale marketing campaigns. We are who we are and market XUN within our means. UltraNote always has and will continue to focus on organic growth derived from the value of our technology. By being able to retain and allocate resources towards what truly matters— technology—we were able to stay afloat while other “to-the-moon rocketships’’ plainly collapsed under financial pressure and disproportionate expectations. XUN may not yet be a multi-million dollar cryptocurrency project but with what we have planned for 2019 you be the judge whether or not we are on the right path and getting closer to our goals.
Let’s make 2019 epic
Here we are already into the third month of the year with our sights clearly focused on the upcoming near-term 2019 roadmap developments. In addition to our unfailing efforts pushing brand recognition worldwide with bounties for social media publicity and field work, the following agenda is targeted in the XUN 2019 Roadmap:
- UltraNote Proprietary Exchange: LocalCryptos.Club with BTC-LTC-XUN-FIAT Pairing
- UltraNote Messaging Mobile Application for IOS & Android
- UltraNote Version of CN-Lite V7
- New Difficulty Algo
- New Pool Software
- New GUI Wallet
- WordPress Plug-in
- Standalone GUI Miner
What we have in the pipeline definitely qualifies as significant strides in making XUN thrive within the CN community, as well as becoming more independent. As a blockchain project, we will remain true to core decentralization tenets of the crypto industry and continue to build alliances with trusted partners but fundamentally, our long-term success is predicated upon our growing self-reliance. With a vertical integration approach, we are ensuring no matter what happens within the cryptosphere, XUN will survive for many decades to come.
Take for example the proliferation of exchange hacking and exit scams. Cryptopia or Coinmama were not the most negligible exchanges out there but they were nevertheless hacked with millions of dollars in value lost. What if XUN had listed on Cryptopia, which in-fact almost happened in December 2017? Luckily, we decided not to move forward with their offer. But had we, as a community we would have had to start the whole listing process again with the worst part being we would have lost the hard-earned BTC spent on listing fees. There are no listing fee refunds when an exchange is hacked. In other words, we would have paid a premium price for access to an exchange which apparently did not enact proper protocols to protect their clients and traders. We are never better served than by ourselves. Right?
This is the UltraNote Philosophy we bring to the table for our community. We truly value our community’s peace of mind. Issues of the outside world should neither affect our progress nor our level of confidence in achieving our goals. From a purely financial perspective, our XUN community will greatly benefit with the forthcoming direct access to fiat pairing for BTC, LTC and XUN, thus eliminating “hold” times while saving money on transaction fees.
Our guiding vision with these planned new developments is to create an unmatched environment of trust from the second you own your first XUN coin up to the moment you decide to make good use of it by either sending a private message or personal photo to a friend, securely depositing it on the blockchain for 3% APR or one day soon, pay for a cup of Starbucks coffee. This revolutionary level of personal financial autonomy immediately provides fiat-currency holders a less vulnerable alternative to general market volatility in addition to multilateral risk exposures, including inflation and government confiscation. The majority of crypto projects out there are mere forks or clones of each other with only total supply and distribution adjustments as differentiation. Obviously, sharing the same algo makes them more appealing to hackers desiring to expose vulnerabilities with the same bugs. New XUN algo adjustments will ensure XUN is set apart from the CN crowd, not only for its added features but also at the core of its technology.
The upcoming XUN messenger mobile application release will also strengthen the position of UltraNote as a secure platform offering unchallenged privacy for all your communication and financial needs wherever you are, 24/7. Currently, there are NO proven mobile or desktop messaging platforms encrypted, confidential and secure as the UltraNote desktop wallet. XUN will soon deliver the same level of encryption, confidentiality and security on your mobile phone in the palm of your hands. The messaging mobile application introduction on both IOS and Android devices is an additional pillar for mass-adoption of XUN by facilitating access to our technology while also conforming to societal standards.
Planes take-off at higher airspeed by taking advantage of headwinds.
Regardless of how ugly or slow things may look right now from a market perspective, buckle up and be ready for an amazing journey with UltraNote. No doubt the markets will awaken as all the positive developments across the crypto world unfold over the upcoming months. UltraNote will continue to grow and be ready to stand proudly among the best in the industry. Only in rough weather do brave souls prove themselves and if we consider the 2018 events as a headwind, we can confidently state UltraNote has undeniably proven itself as a trustworthy privacy coin project. A wise person one observed, “A kite rises against the wind.” In other words, perceived headwinds can be a valuable ally if taken full advantage of.
Welcome to the XUNiverse.