Bitcoin (BTC) and Philippine Peso (PHP) Currency Exchange ...

I think the future is already here. cash will soon be less important. don't you think?

Central bank digital currencies are a digital representation of a country’s fiat currency .the concept CBDC has gained prominence over recent years This has been mainly due to advances in blockchain technology, allowing the issuance of digital tokens that represent a store of value.
Furthermore, the move toward CBDCs supports the general trend of a more cashless society. CBDCs offer many comparable benefits to cryptocurrencies, such as Bitcoin. Hours of operation for banks limit the availability of transactions, whereas CBDCs could be available to transact on a 24/7 basis
Like cryptocurrencies, CBDCs could be available to anyone who has a smartphone, helping to improve financial inclusion, particularly to people in rural areas without access to physical banking infrastructure such as ATMs. Countries such as Kenya have already seen an improvement in financial inclusion due to the popularity of M-Pesa, a cashless payment app based on SMS.
There are other benefits in using CBDCs beyond the general advantages of digital currencies. Central banks spend money to print money, with the average cost of minting a one-dollar bill racking up around $0.077 per note. Digital currencies are cheap or sometimes even free to produce
This represents a great advance in the financial industry, since for example with Covid-19 crisis the United States government was forced to issue checks, since they did not have a large amount of cash
submitted by gregoricordova to revain_org [link] [comments]

Bitcoin’s Mainstream Adoption

Bitcoin’s Mainstream Adoption
How financial system has changed its rigid views in favor of cryptocurrencies.
by StealthEX
It goes without saying that the real value of anything can be judged only through practical, everyday use of it. With Bitcoin, as with cryptocurrencies in general, it is no different. Although the concept of a decentralized digital ledger as it is represented by the leading cryptocurrency may seem enticing and masterly on its own, ultimately, it still comes down to the actual application and usability in real life. And this is where BTC adoption within the existing financial system comes into play as one metric to gauge its genuine success or utmost failure, arguably the most telling and important one.

A medium of exchange

Bitcoin was envisioned as a peer-to-peer electronic cash system, synonymous with the idea of using it as a medium of exchange or means of payment (the latter two being essentially six of one and half a dozen of the other). As everything big out there, Bitcoin started small. What went completely unnoticed in 2008 now came to be a major factor capable of affecting the entire global financial system.
But before that, Bitcoin was used as a means of exchange and payment in the markets which shouldn’t have been there in the first place. These were the days when the Dark Web was the primary and likely only driver behind Bitcoin adoption rate, and that’s also happened to be the reason why so many governments turned heavily against it back in the day. Bitcoin had received a bad rap as a currency for conducting illegal operations, mostly selling drugs on black markets like now-defunct Silk Road.
It was not until late 2012 that Bitcoin started to attract attention of the general public after the launch of Coinbase in the summer of that year. Around that time the first attempts to regulate the top cryptocurrency had begun, and the overall negative attitude toward BTC started to change. All in all, the period between 2008 and 2012 was likely the only time in Bitcoin’s eventful and intense history when most of its adoption came about through using it as a real currency and a means of payment, even if primarily for illegal purposes and criminal activities.

A store of value and investment asset

Bitcoin today as we know it has only become possible after many thousands of speculators and investors started to pour their money into the cryptocurrency in the hope of earning off the future growth. No matter how you look at it, whether you like it or not since 2013 Bitcoin adoption has been expanding mostly by attracting people who are interested in it as an alternative, non-sovereign store of value and investment asset. Today Bitcoin as an investment asset and store of value totally took over the Bitcoin as a means of payment and exchange.
The godfather of all cryptocurrencies has seen plenty of ups and downs, which posed a valid concern regarding how it would perform as a grown-up investment asset. Now that we have seen oil prices go into negative territory and fall as low as -37 dollars per barrel, a lot of these doubts have been dispelled. It is little wonder that institutional investors are nowadays looking into Bitcoin as a robust hedge against inflation and sinking economies in a world fraught with recession risks and plagued by the coronavirus pandemic. For example, in 2019 alone cryptocurrency assets under the management of hedge funds more than doubled – to over 2 billion dollars, with around 150 hedge funds actively investing in cryptocurrencies today.
It is no surprise either that during the last couple of years Bitcoin has risen substantially in the eyes of the institutional beholders, all the way up from the bottom, from an outcast, and sometimes even an outright outlaw, to a level on par with such an established store of value as gold. The famous hedge fund manager and billionaire Paul Tudor Jones, who manages around 22 billion dollars through his BVI Global Fund, recently confirmed that he has invested a few percent of his assets in Bitcoin as a hedge against inflation and central banks printing money out of thin air. Altogether, this leaves no doubt that Bitcoin has become a viable and legit investment choice in the realm of institutional money.

A value transfer vehicle

International money transfers have always been a pain in the neck – slow, costly, complicated. As Bitcoin needs no banking institutions to conduct money transfers, be it domestic or global, it has become a value transfer vehicle of choice for people willing to send money with no involvement of banks and payments processors. Historically, making overseas remittances with Bitcoin was among the first use cases of this cryptocurrency.
Cross-border remittances have been recognized as an important source of private capital flows for developing countries. Bitcoin and its crypto brethren have firmly established themselves in this niche for the simple reason many people in poor countries don’t have a bank account and thus can’t access bank services, aside from overall poor banking infrastructure there along with reasonable concerns about the stability of national currencies in backward economies.
Without cryptocurrencies, it would be impossible to receive financial support from abroad provided by migrant workers to their families. This led to an emergence of a wide variety of bitcoin-based remittance services such as BitPesa, Rebit, Bloom, Payphil, to name but just a few, that offer such services for African and Asian countries. They are typically using Bitcoin as a value transfer medium concealing the cryptocurrency from users by converting the sender’s fiat currency into bitcoins and then converting back to the receiver’s fiat currency.

Problems and solutions

One of the major problems Bitcoin faces is not strictly specific to it as it stems from an innate conflict between the two major functions of money. As it happens, a medium of exchange function doesn’t live quite well with a store of value function. A good medium of exchange, or means of payment, should be inflationary to facilitate its use as a currency that you pay with, say, in a grocery store. On the other hand, a good store of value should be the opposite of that to maintain and possibly increase its value over time. Realistically, such a dilemma cannot be effectively resolved from within Bitcoin itself.
As a result, the main cryptocurrency has developed into a trusted, battle-tested investment asset which already established a firm foothold in the corporate investment sector. This is in stark contrast to its promise as a functional currency where Bitcoin still massively lags behind fiat. Is there any way to fix that? The solution probably lies in the separation of different functions between Bitcoin and altcoins. The former will most certainly continue to evolve as a solid store of value. Whether the latter can live up to their collective role of an efficient means of payment, we have yet to find out.
And remember if you need to exchange your coins StealthEX is here for you. We provide a selection of more than 250 coins and constantly updating the list so that our customers will find a suitable option. Just go to StealthEX and follow these easy steps:
✔ Choose the pair and the amount for your exchange. For example ETH to BTC.
✔ Press the “Start exchange” button.
✔ Provide the recipient address to which the coins will be transferred.
✔ Move your cryptocurrency for the exchange.
✔ Receive your coins.
Follow us on Medium, Twitter, Facebook, and Reddit to get StealthEX.io updates and the latest news about the crypto world. For all requests message us via [email protected].
Original article was posted on https://stealthex.io/blog/2020/07/07/bitcoins-mainstream-adoption/
submitted by Stealthex_io to StealthEX [link] [comments]

What use does bitcoin actually have for products that aren't illegal/borderline illegal?

I know this is a very broad question, but I guess I don't see the hype in bitcoin. I've purchased and used bitcoin for a few years, but it was for either illegal or grey lined products. Why is the general public so interested in a currency that is mainly used to buy and sell items products on the deep web? And what good is there to invest in this currency? I'm not market analyst but bitcoin seems way to volatile for big companies to trust holding on to for a long period of time, and it's not like your average 35 year old man is buying cocaine online.
Does anyone have any good theories on why the price rose so exponentially, and what bitcoin is currently used focan be used for in the future that isn't illegal?
submitted by Varrianda to Bitcoin [link] [comments]

The badeconomics of Facebook’s Libra

Facebook issued a whitepaper on the new cryptocurrency that they’re issuing, the Libra. Now, the whitepaper lacks any technical details about their plans (composition of currency basket, the exchange rate, etc.) The sources that they use are bad. But I’ll try to focus on why the Libra is a bad idea, at least at addressing the unbanked who Facebook claims to support.
So how will it work?
Facebook takes your money, puts some of it in a bank and uses the rest to buy securities from various countries. They then “mint” a new coin and give it to the user. When people want their money back, Facebook just “burns” the Libra and sells securities. This means the Libra is based on a basket of securities and bank deposits (see: Money Market Funds and Currency ETF).
What’s Facebook’s plan?
Facebook plans on tackling two problems with the Libra. The first and most important is to “bank the unbanked”, aka providing people with access to financial services. The second is to help reduce remittance fees and make it easier to transfer money. The second point will probably be how most people use the Libra.
Some issues with the Libra:
It won’t help the unbanked
Facebook’s main plan is to help the “unbanked”. In the problem statement, they acknowledge that;
“those who remain “unbanked” point to not having sufficient funds, high and unpredictable fees, banks being too far away, and lacking the necessary documentation”.
It seems that they forgot about two other reasons that were given in the World Bank paper that they cited: some people don’t need a bank account (30% of people) and some rely on family members with bank accounts (26% of people). Even so Facebook’s system will only solve two of these problems (high fees and distance) and will do nothing about the biggest reason people don’t have a bank account, not having enough money (66% of people).*
David Marcus, the current head of Calibra, said this in an update;
“The very people who say they lack the money to open a bank account are actually not saying that they have no use for modern financial services. They’re just saying they can’t afford to access the system, so they remain on the fringes and are forced to use services that charge exorbitant fees and rates.”
I guess he never read the report used by Facebook, where excessive fees was a separate reason cited by 26% of respondents.
I also want to clarify the documentation issue. This usually refers to Know-Your-Customer and anti-money laundering laws, which vary in each country. Facebook will have to adhere to these same laws when setting up Libra unless they want to get tackled by every financial regulatory agency in the world. These laws typically require identity proof and address proof, things that many poor people are unable to provide. And that means they can’t help the unbanked.
*Note that people were allowed to choose multiple reasons, so the total adds up to more than 100%
How are people going to get their Libra?
If you look at the list of corporations and organizations partnering with Facebook, it’s not very hard to notice that some pretty important firms are missing; Banks. Which begs the question, how are people going to convert their hard-earned money into Libra? In the video that they showed, it looks like people can use credit and debit cards, but that doesn’t help the unbanked. You can hand someone cash in exchange for them sending you Libra, but that’s always risky. The World Bank report gives us some potential answers;
“People using digital payments need to be able to deposit and withdraw cash safely, reliably, and conveniently at cash-in and cash-out points”.
One example is a post office. However, post offices are probably not going to accept anything other than legal tender, which means no Libra. Physical infrastructure is important, especially to serve developing countries. Facebook seems to have forgotten about that.
They don’t have phones
Facebook refers to a statistic from the World Bank that 1.7 billion adults are unbanked, of which 1 billion own mobile phones and half a billion have internet access. Let’s just ignore that last number, as I have no clue where they got it from. The 1 billion strikes me as being quite high, and there’s a reason for that. The study that they used looked at mobile phones, not just smartphones. The rhetoric that they use in their whitepaper and in official responses from the company seems to imply that Libra can only be used through apps and web browsers.
This doesn’t mean that it’s impossible to use mobile payments on non-smartphone devices; there is a very popular mobile payment system in Kenya called M-Pesa that transfers money through texts. But it will be a while before an independent developer gets that working, if it ever happens. And until then, the 50% of people in developing countries without access to smartphones will not be able to use Libra.
It’s unstable
It’s true that the Libra won’t be very volatile. But as the exchange rates of the currencies backing the Libra fluctuate, the value of the Libra is going to change as well. Facebook mentioned it in their whitepaper, so it’s not like they don’t know about it. If exchange rates swing the wrong way, users could find themselves losing a significant portion of their initial purchase. And while it’s possible that banks and retailers might start to accept Libra in transactions or to pay off mortgages, until the government starts accepting taxes in Libra (aka never), people will always have to convert Libra into something else. As long as the need for conversion exists, there will be risk.
And while we’re on this topic, lets talk about those countries with unstable currencies. Many people from those countries will invest their money into Libra. But that just causes the local currency to depreciate in value, making the poor people without access to the Libra worse off.
Additional ranting
They use the price of a phone from Best Buy to show that people across the world can buy smartphones for $40 (it’s on sale for $28 right now if you were curious). They seem to have forgotten that the US is not the only country in the world (don’t worry, it’s a pretty easy mistake for us Americans to make). Now, admittedly it’s quite hard for me to find data for minimum phone prices for all countries in the world. But then again, I’m not Facebook. I would assume that households in developing countries would have to spend a larger portion of their monthly income to buy a mobile phone than households in America.
Honestly, looking at the sources that they cited, it seems more and more like some intern just used the first search result from Google instead of doing any actual research.
It’s not cryptocurrency
Yes, it is blockchain (it actually might not be, I just don’t understand crypto very well and it doesn't really matter for this sub). It’s considered to be a stablecoin, a cryptocurrency that is tied to other assets. But that’s about the only thing that makes it a cryptocurrency. Unlike bitcoin, it should be a decent store of value and has the potential to be a medium of exchange and a unit of account if retailers start adopting it. Which means it can actually be used as money. There’s a central reserve that fully controls the Libra. And unlike other stablecoins, the Libra is also backed by securities. As far as I’m aware, assets backed by securities are securities (at least that’s my definition).
If you really think about it, transacting in Libra is like paying for your groceries or the movies using shares from a money market fund. This should be considered capital gains (or losses), and would be taxed as such. Financial regulators are really going to love that.
No interest
Facebook’s plan is that “Users of Libra do not receive a return from the reserve.” Facebook will put a portion of the user’s money into a bank account. However, any interest earned will be kept as profits. This means that people who use the Libra can’t do anything about inflation without converting it to their local currency. This seems like a big oversight for company that seems to be betting on users holding on to their Libra and not exchanging it for their local currency.
Now, for people in countries that experience hyperinflation, this is not an issue. Libra would probably be less risky than the local currency and would protect their earnings. However, for the rest of the world bank deposits just seem like a better choice.
Conclusion
Now, this doesn’t mean that Facebook doesn’t have any valid concerns. Remittance fees are extremely high for people trying to transfer money anywhere. Having greater financial inclusivity would help reduce inequality and poverty. Digital technology is likely the best way for that to happen. But the idea that Facebook will help to “bank the unbanked” is a lie.
submitted by hubstar1453 to badeconomics [link] [comments]

Courtesy message to the team

I just don’t understand why ETN is going down yet it is among the few projects with a working product. On the other side many cryptos in the top 100 with only plans on paper seem to be attracting investors. While ETN boasts of going for the 99% it should know that the 99% are not found entirely in Africa and Asia but the entire world. I am from Kenya, currently living in Canada and I can guarantee you that penetrating African market can be tough especially if the product doesn’t seem to have an advantage to what currently exists. For instance, in Kenya there is M-pesa which is the greatest thing that has ever happened to this country’s economy. With just a phone number you can send and receive money at an instant, pay for goods and services without needing a traditional bank account. You can have access to loans too. Sending money abroad from your M-Pesa account has become easier, with services like M-pesa to PayPal, M-pesa to western union , M-pesa to some select bank accounts in the Asian markets. This technology is very popular in many African countries and continues to grow. To me when I hear that "we want to bank the unbanked" I just laugh cause there is little understanding of what is really happening in these African countries. I consider many people in Africa banked but the developed world just doesn’t know since the mobile banking is quite unpopular to them. The only problem that exists is a well developed system to bridge the gap that exists between these two financial systems so that there is flow of money in both directions. And this is what ETN need to really focus on e.g making it easier purchasing things on amazon with ETN. People have money to spend in Africa it’s only that the popular mobile money system is not supported by most e-commerce services like Amazon, brokerage sites and cryptocurrency exchanges.

One thing that the ETN team seam to get it wrong is that they are trying to solve a problem that in most cases is already solved, it’s just a matter of having ETN integrated in most services that people in the developing world would love to access just like people in the developed world. This leads me to the point of price. The price REALLY matters. This is because ETN is positioning itself as the next generation currency just like bitcoin and not a share of a company. This is simple economics; nobody would want to ditch the dollar or whatever fiat currency for something that is depreciating in value thus reducing the purchasing power. Cryptocurrencies and shares are totally different things. The team should approach its visions with the goal of redeeming it's cryptocurrency. People in the developing world are not morons to waste their time in something that will not be of value to them. At the end of the day , the value of something is tied to its price especially if it’s something that is to be exchanged for goods and services.

My advice to the team will to stop promoting ETN as some sort of ‘charity’ coin but focus on bridging the gap that exists between developing and developed countries of how money moves between them. How ETN performs in the developed market will determine how it will perform in the developing world. If people in the developed world are walking away from ETN don’t expect the people in the developing world would walk towards it. The demand that will be in the developed world that have easy access to purchasing ETN on exchanges will seamlessly translate to demand of using ETN as an alternative currency in the developing world.

I hope this message gets to the ETN team. Stay strong, stay positive.
submitted by Mighty_FX_ to Electroneum [link] [comments]

ORACOL XOR PLATFORM

ORACOL XOR PLATFORM
Oracol Xor platform is designed with three core pillars of development to drive our innovative mission. We arrived at this model by identifying key elements and trends related to cryptocurrency creation, adoption and distribution. The three core pillars are as follows:
1. A solution to facilitating mass adoption at the grassroots level.
Since the inception of Bitcoin, the traditional means of acquiring crypto assets has been through digital exchanges. The procedure has always involved interacting with a bank or financial institution. From here, fiat funds are transferred to the exchange, offering users the opportunity to convert fiat currency in crypto. The process is long, tedious, and requires moderate computer literacy. Recently, efforts have been made to directly connect consumers with point-of-purchase platforms via crypto ATMs located in large metropolitan areas in a few select countries and direct cash purchasing.
However, crypto ATM’s are not a sustainable solution to stimulate mass adoption as long as the machines are dispersed in a restricted area in only developed countries. It is our belief that mass adoption cannot happen while crypto ATM’s remain the only physical means by which everyday consumers are exposed to cryptocurrency. With the lack of technical computer literacy presenting a formidable barrier to access to the public, the adequacy of current solutions to mass adoption are dubious. The idea that everyone ought to carry a public cryptographic key (and guard their private key - otherwise known as a crypto wallet where purchased coins can be deposited) represents a further constraint on mass adoption as these technical concepts remain out of reach for the general public. As long as current crypto infrastructure remains in place, adoption levels will remain stagnant as mid level consumers remain reluctant to proceed with transactions. Nevertheless, relevant to this discussion is the contemporary crypto ATM network, the distribution of these ATM’s globally, and the cryptocurrencies currently contending for adoption. The tables below display ATM distribution by cryptocurrency type and ATM distribution by continent.

https://preview.redd.it/qxa6vrke09z21.png?width=636&format=png&auto=webp&s=6f292b2c2de8462448a6b497021a65a10a83258b

https://preview.redd.it/wmjf72hg09z21.png?width=634&format=png&auto=webp&s=2b9a0e2fd7f7f8d91dfdd9ace1876bc35397d65d
While it is easy to spot the shortcomings of this method, when it comes to mass distribution and usage, it is worth noting that most of the areas with low ATM penetration have strong mobile phone usage. Thus it follows that the use of phone cards is wide spread across these regions. By imitating the mobile phone card distribution model, Oracol Xor will become an instant success, enabling anyone in any part of the world – connected or not – to become a crypto currency holder. Furthermore, through this process the consumer will become part of the Oracol Xor Platform, allowing them to immediately start making mobile payments and purchases using Oracol Xor crypto currency.
• The Oracol Xor solution is as simple as it is common worldwide. We present you our LowTech solution – XOR denominated cards.
Issuance of Oracol Xor denominated cards to be sold in local currencies will be available at local stores worldwide using a distribution/marketing method similar to those of mobile phone cards. This simple but effective solution is as easy to use as a phone card, and once registered (using our data less browser solution for mobile phones) in our Gateway/Exchange the funds are instantly available without the need for any other complex processes. Funds are free to transfer between users of Oracol Gateway/Exchange and are convertible into other crypto currencies via cryptocurrency exchanges everywhere.
• Such distribution networks are easy to model after successful supply chains for phone cards that already exist.
• Finally, our grass roots method leverages decentralized distribution to build brand recognition and network participation worldwide.

https://preview.redd.it/k15ripgo09z21.png?width=372&format=png&auto=webp&s=4ec9d16ed5e4436f36539eb6e98c6a82d4edc895
2 – Develop a proprietary global telecom solution that connects areas with low data coverage to Oracol Xor mobile money.
Due to infrastructural constraints, over 3 billion people use mobile phones without reliable data access in the developing world. As a result, trading or paying with phone credits is common practice. Mobile phone solutions using 2G or 3G networks such as M-Pesa are already a success, representing a unique opportunity. Oracol Xor platform is ready to enter the market as a disruptive technology, and coupled with pillars 1 and 3 is sure to change the existing industry landscape. In 2016 $216 billion dollars were transacted through the mobile payment networks (mobile money) averaging to some 30,000.00 transactions per minute. Below are some stats and industry trends:

https://preview.redd.it/40yufi2u09z21.png?width=591&format=png&auto=webp&s=eb9ae2510ec508aad09294d3189f1292fbafa409
3 – Creating the Oracol Xor Social Network and Online presence
Social Media - No successful platform thrives without a strong social network component, with the most successful examples being Facebook and YouTube. Subscriber count and the number of average daily users across all social networks is currently staggering. However, not a single social network has yet successfully incorporated crypto currency into its ecosystem. One of the main goals of Oracol Xor platform is to develop a social media network that will incorporate the use of XOR cryptocurrency either through monetization or as a form of online payment. Once operational at full capacity the Social Media website will encourage further adoption and create its unique imprint with XOR flavor.
Given current market conditions and the complicated legislation governing most the popular social US-based media companies, Oracol Xor social media platform will locate its servers in a jurisdiction where freedom of the internet is guaranteed. It is confirmed that the number of subscribers to these companies is declining as we speak due to various factors and practices and that currently a veritable “war” for supremacy and the biggest piece of the advertising space pie is being conducted online. Oracol Xor will step in as an independent player without the restrictions that currently are hampering other companies (except the common sense restrictions such a violence, porn etc). As indicated in the statistics below, it is expected that the declining subscription numbers will continue as consumers look for alternative social networks, free from censorship and “throttling” policies. This presents us as a platform, a perfect opportunity to introduce the world to a new and innovative social networking solution that integrates cryptocurrency as a method of payment. Rumors have it that Facebook is working on integrating a possible use of Ethereum but there are no confirmed reports to date.
By pioneering this integration, Oracol Xor social network and platform will establish itself as a major force in the industry through its innovative approach to best practice, paving the way for exponential revenue growth and subscriber count. Additional income from advertisement revenue will consolidate the XOR economy and increase the overall value of the digital asset.
At this time Oracol Xor has already launched its incipient version of the Social Network website and is working towards further developing components that will enhance the use and make it more user friendly.
https://oracolxor.world
submitted by yurdi to ICOAnalysis [link] [comments]

Stellar Lumens HODL alert: 2017 Round up, Partnerships, Lumens vs. Other Cryptos

Welcome everyone! The future of Stellar Lumens is bright! Today we will look at the accomplishments of Stellar.org in 2017.
. .
2017 Round Up
IBM / Stellar Partnership
• Kik Messenger’s KIN coin to move from Ethereum to Stellar in 2018
• Stellar ATM introduced in Singapore
• Jed McCaleb confirms IBM/Stellar has 30 banks on board (Youtube Video)
Lightyear.io enables forward thinking financial entities to easily join the Stellar ecosystem.
• IBM adds 8 new validators from 8 different countries onto the Stellar network (article)
Forbes calls Stellar “venmo, but on a global scale - and for larger bodies like banks and corporations.”
• Stellar Lumens Is Up 6,300% Since March and Is Aiming for Big Blockchain Partners (article)
• Many new partnerships (listed below) that will be using the Stellar network in 2018.
Binance and GoPax Exchanges Adds Stellar
Ledger Nano S support is now available for Lumens (XLM)
• The next coin to break into the top 10 cryptos (article)
.
.
2017 Partnerships & Financial Institutions
IBM - is an American multinational technology company headquartered in Armonk, New York, United States, with operations in over 170 countries. IBM partnered with Stellar to help financial institutions address the processes of universal cross-border payments, designed to reduce the settlement time and lower the cost of completing global payments for businesses and consumers.
SatoshiPay - a web payment system that helps online publishers monetize digital assets like news articles, videos, or PDFs in tiny increments without friction.
EXCH.ONE - is a FinTech software company based in Switzerland currently working to integrate its platform and its first technology adopter Euro Exchange Securities UK Ltd. into the Stellar network. This addition to the Stellar network will bring access to currency markets of South and Central America,UK and a number of EU countries.
Novati (ASX:NOV) - is an Australian-based software technology and payment services provider. Novatti is currently working to integrate it’s platform into the Stellar network with the ultimate aim to build a global money transfer solution to provide cross border, cross currency and cross asset payments.
Pundi X - is an Indonesia based fintech company that provides POS device, debit card, multi-currency wallet that empowers individuals to buy and sell cryptocurrency at any physical store in the world. They say "buying cryptocurrency should be as easy as buying a bottled water."
MoneyMatch - is a Malaysia based fintech startup that provides a fully-digital peer-to-peer currency exchange platform for customers to transfer and exchange foreign currencies with complete ease and at great value. The company plans to integrate with the Stellar network and enable pay in and pay out from Malaysia.
Streami - is a Korea based fintech company that offers blockchain enabled cross-border remittance service and recently launched a cryptocurrency exchange. The partnership extends both on the exchange side and remittance operations.
Neoframe - is developing and marketing trading solutions for big brokerage firms in Korea and extends its business to blockchain based applications. Neoframe developed high performance centralized cryptocurrency exchange as well as secure wallet solutions and is working with big financial players. The company is planning to launch a remittance business for ASEAN countries (Thailand, Vietnam, Indonesia, Malaysia, Philippines, Singapore, Myanmar (Burma), Cambodia, Laos, Brunei) using Stellar.
SureRemit($RMT) - is a Nigeria based global non-cash remittances company. SureRemit leverages the Stellar blockchain platform to connect immigrants abroad directly with merchants that provide the services needed by their loved ones back home. With Remit tokens, immigrants all over the world can access digital shopping vouchers that can be spent on goods and services at accepting merchants wherever they are.
Cowrie Integrated Systems - is a Nigerian based Value Added Service Provider. Cowrie provides services at the intersection between telecoms and finance. Cowrie recently joined the Stellar network to bring novel fintech services to the African market.
Smartlands - is a Stellar-based platform designed to create a new class of low-risk tokens, secured by real, profitable assets in the real-world economy. Smartlands is designed to promote investments in the agricultural sector by allowing investment in individual projects, agricultural companies or indexes of groups of projects. These investments will be fully collateralized by agricultural real estate, other productive assets such as fruit or nut trees or, in some cases, the actual crop.
Klick-Ex - is an award winning regional cross-border payments system delivering financial infrastructure for emerging markets. It has been responsible for dramatic uptake in digital financial services in unbanked regions of the world, and lowering costs for banks, central banks and consumers in low liquidity currencies. Its key presence is in the Pacific and Europe, and it is a founding member of www.APFII.org processing more than 775,000 transactions per second, per billion of population (source).
Mobius - Mobius connects any app, device, and data stream to the blockchain ecosystem. Our simple and easy to use bidirectional API allows non-blockchain developers to easily connect resources to smart contracts and more. The Mobius MVP acts like Stripe for Blockchain by introducing innovative standards for cross-blockchain login, payment, smart contract management, and oracles. The Mobius Team includes David Gobaud, Jed McCaleb (Stellar.org founder), Jackson Palmer (creator of Dogecoin), and Chandler Guo (notorious Bitcoin & blockchain investor).
Chaineum - Chaineum, the first French ICO Boutique, will use the Stellar network for upcoming ICOs. “Chaineum is positioned as the first “ICO Boutique” in France, providing a range of end-to-end services to companies and international start-ups wishing to develop with this new funding mechanism. Chaineum is preparing 8 ICOs by the end of 2017, for European, North American and Asian companies, of which cumulative amount could reach € 200 million." (source)
Poseidon Foundation - Poseidon will simplify the carbon credit market with the creation of an ecosystem built on Stellar.org’s blockchain technology. This technology will prevent double counting of carbon and will be consistent across jurisdictions, making it easier for companies to deliver and measure progress towards their climate targets or other goals such as deforestation-free commitments.
Remitr - Remitr is a global platform for cross border payments, licensed in Canada. Remitr uses the Stellar network for international settlements for businesses as well as other payment partners. Remitr’s own payout network of 63 countries, comprising several currencies, is extended onto the Stellar network.
MSewa Software Solution (MSS) - MSewa Software Solution (MSS) Payments provides a one-stop digital payment service available across the Globe. MSS Payments aims at serving the consumers (Banked, Unbanked and Underbanked) with mobile banking facilities on the move from anywhere by transferring funds in their mobile phone.
PesaChoice - PesaChoice is a leader in international bill payment services for the African diaspora. PesaChoice aims at making international bill payment process easy, seamless, secure, with reasonable and competitive service fees, and up to date technological advances.
SendX - Singapore based SendX, in partnership with Stellar, is the better way to move money worldwide. The SendX team believes that the future of transactions is decentralized and distributed, bringing true equity to everyone across the value chain.
VoguePay - VoguePay, with offices in the United Kingdom and Nigeria, is partnering with Stellar to become the cheapest and most efficient way to send money between the United Kingdom and Nigeria. In the coming months, they expect to expand this service to other selected African countries.
HashCash - Hashcash consultants build financial solutions for banks and financial institutions over blockchain. We leverage the Stellar platform to build products that vastly improve the remittance and payments experience for banks and their customers. Transfers happen lightning fast at a fraction of current rates and operational cost is significantly reduced. HashCash is headquartered in India, with operations across South Asia and the Gulf.
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Stellar Lumens vs Other Cryptocurrencies
Lumens vs. Bitcoin: Jed McCaleb spoke at Distributed Markets in 2017 about the advantages, but more importantly, the disadvantages of Bitcoin. Listen to the talk here. Jed said, “Bitcoin is this awesome innovation. The first thing it does is converts a real world resource, electricity, into a digital asset. So it takes something from the real world and puts it into the digital realm. The second thing it does is provides immutable public record. It’s basically a database that everyone can see but no one change arbitrarily… That’s great, Bitcoin solves the double spin problem [ of proving possession and transmitting volume]… [However, to fix the problems of bitcoin] you might think well maybe we’ll just kind of keep adding [software] to Bitcoin until we get there, but that’s not really the way software works. You want to have the design from the beginning and solve these simple issues. Bitcoin was designed to be a new currency, it wasn’t really designed to be this unifying universal payment network. So that’s what Stellar does. It solves these three remaining issues.”
Lumens vs. Bitcoin #2: According to wired.com, "Bitcoin mining guzzles energy - and it's carbon footprint just keeps growing." Wired says "Today, each bitcoin transaction requires the same amount of energy used to power nine homes in the US for one day... The total energy use of this web of hardware is huge—an estimated 31 terawatt-hours per year. More than 150 individual countries in the world consume less energy annually. And that power-hungry network is currently increasing its energy use every day by about 450 gigawatt-hours, roughly the same amount of electricity the entire country of Haiti uses in a year." Because Stellar is based on a consensus algorithm rather than mining, it takes much less energy to run the Stellar network. The Poseidon Foundation decided to build their platform on Stellar rather than Ethereum or Bitcoin because of this (twitter source).
Lumens ICO tokens vs. Ethereum ICO tokens: According to Stellar.org, "traditionally, ICO tokens have been issued on the Ethereum network in the form of ERC20 tokens. ERC20 tokens are easy to issue and are infinitely customizable using Ethereum’s smart contracting language. However, recent events have highlighted and exacerbated some weaknesses of the network, including slow transaction processing times for the network during ICOs and increasingly expensive gas prices (by fiat standards) for transactions and smart contract execution. Moreover, many organizations require only basic tokens; they adopt the risk of Ethereum’s Turing complete programming language without taking advantage of many of its benefits."
"While Ethereum has the most expressive programming capabilities, we believe Stellar is the best choice for ICOs that do not require complex smart contracts. Stellar’s primary goal is to facilitate issuing and trading tokens, especially those tied to legal commitments by known organizations, such as claims on real-world assets or fiat currency."
Stellar vs. Ethereum #2: The median transaction time on Stellar is 5 seconds, compared to approximately 3.5 minutes on Ethereum (source). Stellar has a negligible transaction fee (.00001 XLM ~= $0.0000002) with no gas fee for computation, while depending on the complexity of the computation, the median cost for a transfer on the Ethereum network is $0.094. Security: While both Stellar and Ethereum run on a decentralized network, the Stellar network has fewer security pitfalls. Stellar uses atomic transactions comprised of simple, declarative operations while Ethereum uses turing complete programming capabilities which produces less auditable code and greater risk of exploitable vulnerabilities (source). Recently, a security flaw in the Ethereum network froze millions of dollars. According to Mobius ariticle written by David Gobaud, "On November 6, 2017, Github user deveps199 'accidentally' triggered a bug in Parity, a popular Ethereum mult-sig wallet, that froze more than $152 million in Ether across 151 addresses. The bug impacted several token sales including Polkadot, which has had ~$98 million out of its recent $145 million sale frozen."
"Mobius had none of its ongoing pre-sale Ether frozen because we do not trust Ethereum’s Smart Contract based multi-sig wallets given the vast Turing complete attack surface and did not use one. Security broadly is one of the main reasons the MOBI token that powers the DApp Store is a Stellar Protocol token and not an Ethereum token."
Lumens vs. Ripple: According to Wall Street Bitcoin Exchange, "Many investors like to compare the company [Stellar] to Ripple, and there are a lot of similarities, being that some of the founders worked on the Ripple team. In what can now be looked at as another blockchain development drama that plays out on chat boards and in interviews all across the globe. Stellar declared they fixed Ripple’s problems with their hard fork, however, Ripple has failed to admit to any of the flaws in its design that the Stellar team has pointed out." The article concludes by saying, "We Choose XLM Over XRP For 2018. That is why we are going with Stellar Lumens over Ripple in our portfolio for the rest of 2017 and 2018. After holding Ripple for a long time this year, it just never seems to make the big break like other names with bigger market caps like Bitcoin Cash, Dash, and Litecoin have. While we are holding on most all our larger market caps, we feel that Stellar Lumens will be one of the break out coins for 2018."
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Conclusion
The stellar.org team is doing an amazing job making partnerships and pioneering the use of blockchain technology for various types of transactions. What we are seeing is a new technology that can actually be used to solve real-world problems. As a community, we need to continue supporting Stellar and we will quickly see it power transactions across the world. What are your thoughts about Stellar? What do you see in the future of Stellar? Any important news you want to share? Comment below.
submitted by chargingerman to Stellar [link] [comments]

Adoption of Nano Discussion

Hey guys - Long term holdetrader of Nano. Been here a year now. Fan of Nano but also critical of Nano because I want to see it succeed. I have some thoughts and would love to hear feedback.
Nano's ultimate goal is to become a currency. I believe its possible but I think approach has to be thought through in order to succeed. Some issues that are in the way:
VOLATILITY: This is solved with liquidity. So, for Nano to stabilize you would need increased adoption. It's a bitch of a problem because as of right now, Nano is mostly used as a store of value.
TAXES ON TRANSACTIONS: This is a problem in the US (where I'm located). (EDIT: If it worked like sales tax in the US, I'm fine with that.. but in those cases, its just added on top of each purchase and not tracked by the consumer)
LACK OF A FIAT GATEWAY: Probably the easiest of the three to fix. You still run into issues making this happen. In the US, its state by state. A third party can handle it for you, of course. This is probably the best approach.
How we do solve these issues? I believe we need to focus on areas in which Nano will be used more often. The unbanked and those suffering from hyper inflation. I believe our marketing should lean toward those areas. Once Nano proves to be a viable currency in other countries (i.e. M-Pesa in Kenya), it will become adopted in other countries. This shows a proven track record. Nano can also focus on countries that don't tax cryptocurrencies like Germany, Denmark, Slovenia, Belarus, Singapore, etc..
While the idea of Amazon and McDonalds accepting cryptocurrencies as payment is awesome.. its just not going to work anytime soon. I believe Nano can prove it works great in countries that will actually use it, instead of forcing the issue too early. The reason Bitcoin was created was because people lost trust in their government. I feel right now isn't the best time to push adoption in the US given all the issues it faces. We've already seen Bitcoin being dropped as a payment option for many merchants. I understand it was due to high fees and long wait times.. but also because it wasn't used. As an American, I have no issue buying things online w/ a credit card. I have a bank. However, I do love the idea of a freedom from centralized services. I just don't think we'll be there anytime in the next 5 years. Other countries need cryptocurrencies. They've been burned by their government and no longer want a centralized authority controlling their lives. If we don't focus on them, someone else will.
Would love some feedback. Feel free to correct me or add to anything I've missed here. Thanks
submitted by RokMeAmadeus to nanocurrency [link] [comments]

Regarding the value of the XLM token

Here are my 2 satoshis on the matter.
Some current XLM stats: Circulating supply: 17.8 billion XLM tokens Total supply: 103.5 billion XLM tokens
The cost of transactions is very small. I think 1 XLM token is worth ~100,000 transactions on the network right now. And the current price of 1 XLM token is $0.27 (USD).
To use Stellar, one must have a deposit of at least 20 XLM tokens. Right now: this "upstart cost" is 20*0.27 = $5.40. Pretty inexpensive for a lightning fast payments channel. So if I'm a small business with a website it makes sense to use stellar for one payment of $5.40 instead of using something like Stripe which takes a small percentage (~2% i think?) of each transaction. (Side story, Stripe (online easy credit card payments) was a large and early funder of Stellar so it's a little ironic to use them as an example, but anyway...)
So say everyone starts using Stellar because its so amazing. Let's say 100 million accounts are made. Well the total supply of XLM is ~100 billion. Every account needs 20 XLM tokens to join, so that sets aside 2 billion tokens. There will still be 98 billion tokens in circulation (once fully distributed). So I think it's fair to say that people purchasing 20 XLM tokens to join the network will not be the biggest driver of demand.
Here is where it gets interesting. Stellar is revolutionary and unique because it provides the functionality of a Credit Market. The Stellar ledger is able to record who owes what to whom, whether it be US dollars, Euros, Bitcoin, Monero, M-Pesa, anything. And ideally the goal is for the XLM token to be a "bridge" currency that provides liquidity. Say I'm in the US and my friend is in Britain and I want to send her $500 (USD). Whether through a Stellar anchor or just through my personal account, I will purchase $500 worth of XLM (500/0.27=~1900XLM) and send it to her account. She gets that 1900 XLM and goes through a local anchor to convert her 1900XLM into 427 EUR and boom, the transfer has happened instantly with almost 0 transaction fees.
So what is the value of an XLM token? We made some assumptions earlier and are guessing that 2 billion XLM tokens are locked up as the minimum account deposit. So that leaves 98 billion circulating XLM. These 98 billion XLM thus need to store the value of the throughput of all transactions. If the extent of the network is 100,000 people sending 500 dollars per day, then 98 billion XLM tokens are worth 50 million dollars, that means one XLM = $.0005 - not a very valuable token.
However, if Stellar can capture 20% of the market for International Bank Transfers (which around here is rumored to be ~$1 trillion daily volume- but I am not sure about this and have not fact checked it (help anyone?)) - this would be a game changer. $1 trillion*.20 / 80billion XLM = $2.5 USD per XLM.
Going further, if Stellar can establish itself as a trusted worldwide Credit Platform, then we'd really go to the moon. Right now, the entire worldwide credit market (debt) is ~200 trillion dollars (the size of the US Federal Debt alone is ~$20 trillion). If 10% of the US credit market migrates to Stellar, then we're looking at 80billion XLM =~ $2 trillion, meaning $25 USD per XLM token. If 10% of worldwide credit market migrates to Stellar, we're at $250 USD per XLM token. In other words, hodl.
(btw, Is this accurate? I've probably missed something in my calculations so please correct me if something is wrong)
And the beautiful part is that 95% of the Stellar foundation's XLM is pledged to be distributed for free to ensure inclusive growth. A large bank in India signs up for Stellar because it's nearly free transactions, and at the same time a small business is Kenya gets 30XLM for free to upstart their growth.
One of the largest problems in our world is that economic growth has not been inclusive. The system is built such that the rich few can take advantage of the poor many. Ideally wealth would be distributed much more equally and Stellar is taking sharp aim for this specifically.
TLDR: Please fact-check me, but I'm pretty sure HODL.
Edit: correction: 500 USD is 1900 XLM (thanks to bkolobara and enzo-the-dog - i multiplied instead of divided) + fixed a typo
submitted by deezydeezy to Stellar [link] [comments]

Peter Surda's 2012 Master's Thesis on Bitcoin uses Libertarian / Austrian economic-reasoning to show why bitcoin is valuable and how its price evolves

Peter Surda published his master's thesis in 2012, entitled: "Economics of Bitcoin: is Bitcoin an alternative to fiat currencies and gold?"
At the time I had been participating in discussions about economics on the old Mises.org discussion forums (before they got replaced) in mid 2012.
In my opinion, this was the best place that one could find scholarly and advanced economics-based discussion of the viability of bitcoin, although we also discussed your other standard libertarian and ancap topics, but this was the best place on the internet for Austrian-econ to discuss bitcoin.
I myself had heard about bitcoin when it bubbled to $32 the year before in 2011, and had actually CPU mined it for like one day back then before realizing it wasn't very effective and stopped mining without looking deeper into it (had I got into GPU mining then I coulda been rich!).
I became busy with other aspects of life at that and didn't return to bitcoin for a year, not until these forums.
In these forums the question was posed on whether bitcoin could be a good currency.
What followed was an epic discussion and analysis of both what money actually is and whether bitcoin qualified as money, and whether bitcoin could be a GOOD money therefore, over the course of the next six months.
There developed three camps during this discussion, those who thought bitcoin COULD be a good money, those who thought it definitely could not be money or would be a terrible one, and those who were dispassionate observers or just weren't very sure.
I was fairly neutral on the topic at first, but I had long been interested in the theory of money as a reader in economics. I quickly found myself arguing that bitcoin could serve as a money and would actually be a great money, perhaps the best we've ever found.
Several of us were in this pro-bitcoin camp, including Peter Surda, and it wasn't until much later that he published his thesis here and we realized who he was.
I can honestly say that, due to that period of arguing about bitcoin for literally months, that we in that forum turned over bitcoin from absolutely every angle, and considered everything there is to think about in terms of bitcoin and money, and that I therefore have a very strong foundation on which to say that I have strong confidence that cryptocurrency CAN be an absolutely fantastic money for the world.
And it has formed the foundation of my faith and advocacy in cryptocurrency ever since.
It is also why I chose BCH over BTC now, because only a permissionless, decentralized currency has a chance of being the financial revolution the world needs.
Surda's thesis focuses on a couple aspects and economic arguments. That the value and utility of a network is due to the network effect created by it.
That is, all the participants and uses that it has will tend to create value in the coin itself, to raise its price over time.
BTC, thereby is destroying its value through giving away all those use-cases to BCH.
We should happily accept that BTC wants to ignore those use-cases and users and simply build a cryptocurrency capable of serving those needs.
It's worth a read:
https://nakamotoinstitute.org/static/docs/economics-of-bitcoin.pdf
His conclusion:
This thesis is about the analysis of Bitcoin as money, whether it poses a serious alternative to fiat currencies or gold. In the theoretical part, I tie together academic research and views from within the Bitcoin community, based on a libertarian point of view. The results are that Bitcoin conforms to the Austrian theory of the catallactic origin of money. It already crossed the obstacles that are the praxeological preconditions for the function of a medium of exchange (the emergence of price, and the emergence of liquidity), as described in the Mises' regression theorem. It is at a very early stage of evolution, users and service providers facing a high level of uncertainty, however, the ecosystem already shows a high level of specialisation, and the services are maturing.
Bitcoin can, hypothetically, eventually evolve into money through the behaviour of market actors. It can also, hypothetically, gain the functions of store of value and unit of account (assuming it does not have them already). Currently, there are areas where Bitcoin has a comparative advantage over other media of exchange, mainly through the reduction of transaction costs in the narrower sense. The existence of this comparative advantage probably means that the critical mass for the network effect has been reached and at this level, the Bitcoin ecosystem is self-sustaining.
If this comparative advantage persists, network effect can increase the adoption of Bitcoin, and thus make the evolution into money more likely. Whether, or to what extent, this comparative advantage persist, depends on the strength and flexibility of the Bitcoin ecosystem, the level of regulation, the emergence of new competitors (e.g. new cryptocurrencies) and the stability of the fiat money.
If Bitcoin becomes money, it would most likely present a system with an inelastic supply and thus conform to the ideal money as viewed by the gold standard branch of the Austrian School. This would be achieved without a legislative reform and irrespective of the existence of fractional reserve banking. In this respect, it is superiour both to fiat money and gold.
Notice this key passage:
Currently, there are areas where Bitcoin has a comparative advantage over other media of exchange, mainly through the reduction of transaction costs in the narrower sense.
This means that bitcoin (was) cheaper to transact with than any other form of financial instrument. Was until Blockstream got complete control over it.
If you want to know why the banks and governments took bitcoin seriously and somehow got Core / Blockstream to destroy the low transaction-cost aspects of BTC, it is precisely this.
A low transaction-cost currency would utterly destroy the credit card and transaction processing business, an industry that reaped $42.4 billion in interchange transaction fees in 2016, for instance. (Wouldn't destroy their loan business, just their transaction fees business). And that's ignoring the fees they charge just for the privilege of using their credit cards, worth as much as $100 billion a year.
These companies are charging as much as 3% effectively on all purchases, both as transaction costs and in insurance fees for chargebacks. It would destroy that gravy train completely, because merchants face zero chargeback risk when paid in cryptocurrency.
Surda concludes that the low transaction-cost comparative advantage of bitcoin is the sole reason why it's self-sustaining. This makes sense, if you have a trade vehicle that isn't significantly better in some way than what you're currently using, you don't bother using it.
While Blockstream is busy trying to become Paypal 2.0, we need to focus on the only thing that matters: lower transaction costs and all the ways we can return VALUE to actual users because of this.
Yes we need merchants, but merchants need buyers. We need the entire 3rd world using BCH-bitcoin. If we can get an M-Pesa sized foot in the door somewhere, we would be doing amazing work for that population.
If you believe that bitcoin is a revolution and BCH is the leading crypto in that revolution, then this document helps explain why, and it's worth your time.
submitted by Anenome5 to btc [link] [comments]

Removed comments/submissions for /u/jigaxx

Hi jigaxx, you're not shadowbanned, but 37 of your most recent 90 comments/submissions were removed. They may be removed automatically by spam filters and not necessarily by human moderators.
Comment (1pts) in CryptoCurrency, "Daily Discussion Megathread - August 10, 2018", (10 Aug 18):
Indeed, they are telling me that my eos tokens are worthless now because I didn't register my tokens on time. I was one of the really early investors on their platform. All gone just like that. What a...
Comment (1pts) in SnowDividends, "Exit scam?", (01 Aug 18):
Thanks! You're the man.
Comment (1pts) in SnowDividends, "Exit scam?", (01 Aug 18):
Yep, looks like it
Comment (1pts) in garlicoin, "Forgive me for I have killed somany garlic.", (20 Jul 18):
Hey friend, no worries. I'll give you the 761 garlic if you tell me how you're going to back them up.
Comment (1pts) in CryptoCurrency, "Daily Discussion Megathread - July 17, 2018", (18 Jul 18):
I've been sucker punched too many times by pumps like these. I'm staying skeptical for now.
Comment (1pts) in CryptoCurrency, "Daily Discussion Megathread - July 11, 2018", (11 Jul 18):
What a fucking nightmare!
Comment (1pts) in CryptoCurrency, "Daily Discussion Megathread - June 22, 2018", (23 Jun 18):
Oh yeah. Sit down and let me tell you a story about the bearwhale fight at $300
Comment (1pts) in CryptoCurrency, "Daily Discussion Megathread - June 12, 2018", (13 Jun 18):
I know, it feels like the downtrend from early 2014 but this one feels waay worse and artificial. Almost like everyone is being waterboarded.
Comment (1pts) in nanocurrency, "feels like it's the same with Nano..", (10 Apr 18):
RemindMe! 3 Years
Comment (1pts) in CryptoCurrency, "List of dividend-paying cryptos", (06 Nov 17):
COSS and Kucoin
Comment (1pts) in CryptoCurrency, "Anything similar to tether?", (16 Jul 17):
Nubits
Comment (1pts) in videos, "When a male gymnastic coach tries uneven bars.", (20 Dec 14):
10
Comment (1pts) in Bitcoin, "I love this man: If you've never heard of Bitcoin, "get...", (09 Dec 14):
Right, that enthusiasm. He even forgot to take a puff puff from his weed and the thing went out.
Comment (1pts) in explainlikeimfive, "ELI5: What is the best way/position for humans to sleep? It...", (21 Nov 14):
Lean on the wall.
Comment (1pts) in dogecoin, "The Count Down to the Biggest storm in Doge History has...", (09 Nov 14):
Battle Creek here
Comment (1pts) in Music, "What was the last actual compact disc (not download) you...", (08 Nov 14):
50 cent - Get Rich Or Die Tryin. Year: 2003.
Comment (1pts) in dogecoin, "Doges of the world! [OC!]", (11 Oct 14):
Africa?
Comment (1pts) in dogecoin, "Dear whales leaving our currency...", (08 Aug 14):
Whales? More like bottom feeders. They get higher profit margins when the prices are low but now I think they've realized the consequences of pressuring the prices towards the bottom. Miners are findi...
Comment (1pts) in dogecoin, "I guess we might see bitcoin race against dogecoin...", (25 Jul 14):
Seal of approval. It means our community is highly regarded by BTC. This imitation is flattering.
Comment (1pts) in dogecoin, "First they ignore you, then they laugh at you, then they...", (16 Jul 14):
First they ignore you, then they laugh at you, then they fight you, then you wow!
Comment (1pts) in flappycoin, "FlappyCoin Qt Wallet 2.0.0 released", (23 Mar 14):
Hello dev. Please follow the instructions from the link below to fix the "libgcc_s_dw2-1.dll" issue: http://stackoverflow.com/questions/4702732/the-program-cant-start-because-libgcc-s-dw2-1-dll-is-mis...
Comment (1pts) in flappycoin, "I will buy 1 million flaps for 300 doge.", (22 Mar 14):
1 dogecoin = about 123 satoshis
1 flappycoin = 1 satoshi (at current market price)
300 dogecoin = 300 X 123 (which comes out to about 36,900 flappycoin)
Your 300 Doge will get you 36,900 flappy. Wh...
Comment (1pts) in flappycoin, "Stop selling You %@[email protected]", (16 Mar 14):
He's talking about the dipshits selling so low and pilling a huge sell wall and crippling the coin.
Comment (1pts) in flappycoin, "Lets bring up the value of Flappycoin!!!!!!", (05 Mar 14):
Check out Flappy Party. It is a Flappy Bird gambling ring using bitcoin. If we could get them to accept Flappycoin, it will increase our transaction volume.
Comment (1pts) in dogecoin, "Want Coinkite to accept Dogecoin? First to ฿25 wins!", (14 Feb 14):
Did Bitcoin and Litecoin have to pay to be included? If the answer is no, then we shouldn't have to either.
Comment (1pts) in science, "Be Happier: Spend More Money on Others " ... Psychologists...", (06 Feb 14):
I think this phenomenon is happening on a massive scale at /dogecoin
Comment (1pts) in dogecoin, "I love you all my dear shibes <3 :)", (01 Feb 14):
Am I welcome too?
Comment (1pts) in dogecoin, "a few people asked for an sms tipbot so i made one", (27 Jan 14):
Behold, we are witnessing the birth of a killer app.
Comment (1pts) in dogecoin, "a few people asked for an sms tipbot so i made one", (27 Jan 14):
I am not sure if anyone really understands the gravity of this. This is going to be similar to how the M-Pesa system revolutionized finance in East Africa.
Comment (1pts) in dogecoin, "a few people asked for an sms tipbot so i made one", (27 Jan 14):
Tanzania (+255)
Comment (1pts) in dogecoin, "Just found our ticket to the moon", (22 Jan 14):
Yes yes yes! Shut up and take my doge.
Comment (1pts) in dogecoin, "Just wanted everyone to see this link showing our progress...", (20 Jan 14):
Just donated, hope too see them at the Olympics. It would be nice if they could somehow promote dogecoin at the olympics.
Comment (1pts) in explainlikeimfive, "ELI5: Whats the difference between () [] and {} ?", (07 Dec 13):
public class HelloReddit { public static void main(String[] args) { System.out.println("[The] Magic bean store (where my buddy Jerry used to work until he ate too much merchandise: {beans, ornamental ...
Comment (1pts) in gifs, "Downhill longboarding.", (05 Nov 13):
Claremont is another great video
Comment (1pts) in videos, ["Russell Brand Hilariously Embarrases Morning Show H
submitted by MarkdownShadowBot to CommentRemovalChecker [link] [comments]

Is Facebook Libra a Betrayal of Satoshi Nakamoto’s Vision?

The first thing that should be said about Facebook’s Libra proposal is it is thoughtful. In an industry characterized by initial coin offerings (ICO) seeking to raise funds for flimsy concepts on the basis of grossly inadequate disclosure, this is quite welcome. Whether you are enthusiastic or skeptical about the idea, at least Facebook has taken the time to think through a number of complex issues.
The white paper nevertheless raises many regulatory concerns, as well as fundamental questions about its utility and value, which are amplified by concerns about Facebook’s power and past record on privacy and security issues. The speed and intensity of the congressional reaction—with hearings scheduled for this week—illustrates that.
On the regulatory side, Facebook has designed Libra to address some of the basic problems with many previous crypto tokens. By separating the currency, Libra, from the investment token that will be used to raise capital for the project, Facebook is seeking to avoid having Libra classified as a security under U.S. (and other nations’) laws. If Libra were deemed a security, it is unlikely the project could get off the ground. While Libra is to be fully backed by a reserve of cash and cash equivalents, users of Libra will not receive any return from that reserve. Instead, any earnings will be used to pay for maintaining the system and issuing dividends to holders of the investment token.
But the security analysis may not end there. While the reserve means Libra is likely to be less volatile than other cryptocurrencies, it will still fluctuate in value as exchange rates fluctuate. The reserve may be invested in “low-volatility” assets and may be designed for “value preservation,” but so are money market funds. The fact that the association will encourage the listing of Libra on electronic exchanges and will have the power to change the composition of the reserve may raise eyebrows at the SEC. If it sees features of an investment product in the design, Libra may still have significant security law hurdles to overcome.
That potential exchange rate risk poses a tax challenge as well: Should Libra be considered property for tax purposes, like Bitcoin? Stablecoins tied to a single currency such as the U.S. dollar are not treated as property. But the tax treatment of a coin tied to a basket of fiat currencies is not clear. If Libra is deemed property under U.S. or other nations’ laws, then a user could face recognition of loss or gain on each transaction. That would severely diminish its utility as a payment mechanism.
Compliance with anti-money laundering (AML) and know your customer (KYC) requirements will also be a challenge. The possibility that Libra could be used for illegal payments is the surest path to uniting financial regulators around the world against it. The white paper acknowledges the importance of AML but does not provide any specific compliance plans. Will a user have the responsibility to satisfy KYC and AML standards before making any transfer? Will the Libra Association, Libra’s governing body, implement central KYC and AML clearance of any person sending or receiving Libra?
The governance of Libra raises a host of interesting questions. Some crypto enthusiasts have been quick to point out that the centralized control by the Libra Association is antithetical to the decentralized promise of blockchain technology. Others have taken the view that there is no other practical way to launch the currency. The white paper says Facebook is committed to decentralized governance in the long term, and touts the fact that Facebook will be just one of many members of the association, no doubt seeking to allay concerns about Facebook increasing its own power and influence through Libra. But I would not read too much into the announcement that many prominent companies have agreed to participate. At this stage, those commitments neither tell us when or to what degree Facebook will relinquish control, nor are they evidence of third-party verification of the project’s viability. For a company like Visa, which has $20 billion in annual revenue and spends $1 billion a year on marketing, it is presumably an easy decision to ante up $10 million to have a seat at the table as this unfolds.
Moreover, for those who hope that blockchain can reduce our reliance on large institutions, the composition of the association—which includes many financial and technological giants—is not necessarily comforting.
The reasons for organizing the association as a Swiss foundation may also be more mixed than the white paper suggests, which says it is because Switzerland has a “history of global neutrality and an openness to blockchain technology.” Crypto enthusiasts at _Fortune_’s recent Brainstorm Finance conference claimed this is evidence that the U.S. is losing the blockchain innovation race to jurisdictions like Switzerland. But the use of Swiss foundations for international nonprofit activities is not uncommon. There are tax and general corporate law advantages to using such foundations, particularly if the organization is not primarily dependent on receiving tax-deductible contributions from U.S. persons, as will be the case for Libra. In addition, the choice of Switzerland as the jurisdiction of organization does not exempt Facebook or the association from having to comply with U.S. law if the token is offered, sold, and used here.
Given the concerns about Facebook’s technological dominance and past record, it is not surprising that the Libra proposal provoked quick and strong reactions in Washington. Senate and House leaders on both sides of the aisle have scheduled hearings for mid-July, and some have called on Facebook to halt work on the proposal. Even Federal Reserve Chair Jay Powell—who one year ago told Congress that the Fed did not have jurisdiction over cryptocurrencies—was quick to say the Fed will be examining the proposal closely. Regulators around the world have made similar statements.
The congressional hearings will surely examine Facebook’s objectives. Is it really to bring financial services to the unbanked people of the world, as the white paper claims? Or is it to create a new source of revenue as well as data collection? Even if that is not the primary objective, how will Facebook prevent itself from using the data generated by Libra for other purposes? Will the other financial giants who are members of the Libra Association have access to that data? And in light of its own poor privacy record, as well as the poor record of cybersecurity in the crypto industry generally, how will Facebook keep its users’ data protected and their accounts free from hacks?
Congress and financial regulators will also want to consider the long-term implications for financial stability and financial inclusion. If the goal of Libra really is financial inclusion—providing services to the unbanked, one must ask whether another mobile payments service is all that the targeted constituency needs. Don’t they also need credit and liquidity products, to tide them over between paychecks, or to help with unexpected cash needs? There are already several mobile payment services, such as WeChat and M-Pesa, some of which pay interest on deposits and provide loans. Will Facebook offer a broader range of financial services? At what point should Calibra or the Libra Association be subject to regulation as a bank or other financial intermediary?
While Facebook has said it does not intend to pay interest on Libra deposits, the financial stability consequences of significant deposits in Libra should be considered. The financial system is different than other industries because it is vulnerable to runs and panics. The federal government has provided deposit insurance on bank accounts since the 1930s to minimize the potential for bank runs. The white paper claims that the existence of the reserve “discourages ‘runs on the bank.’” But money market funds were thought to be stable because of their conservative investments also—until the fall of 2008. Now, we have taken some steps to reduce that vulnerability, though probably not enough.
Time and again, financial innovation has given rise to types of financial intermediation that operate outside the regulatory framework, often bringing lower costs, better services, or more choice. But sooner or later—as a result of a crisis or otherwise—we must reset the parameters of regulation to bring these new innovations into the fold. The challenge is whether regulators can strike a proper balance between allowing innovation and minimizing risks to financial stability at the outset.
Ten years ago, Satoshi Nakamoto proclaimed that Bitcoin could provide a peer-to-peer means to transfer value that could eliminate or at least reduce our reliance on large centralized financial intermediaries. It was an especially attractive idea in the aftermath of the 2008 financial crisis, but one that has not been realized. Should we regard the Libra proposal as a new iteration of that vision or a perversion of it? It would be ironic, after all, if blockchain gives rise to a Frankenstein-like incarnation of the very thing it was advertised to cure—a digital currency centrally controlled and administered by one of the most powerful, domineering technology companies in the world.
Timothy Massad is a senior fellow at the John F. Kennedy School of Government at Harvard University and an adjunct professor of law at the Georgetown University Law Center. He was the chairman of the Commodity Futures Trading Commission from 2014 to 2017.### More opinion in Fortune:
Renewable energy is booming. Here’s how to keep it going
—Bernie Sanders: America is drowning in student debt. Here’s my plan to end it
—Business needs a better way to predict the next economic downturn
—Most states still enforce noncompete agreements—and it’s stifling innovation
Mike Gravel: Why the American people need their own legislature
Listen to our new audio briefing, Fortune 500 Daily
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submitted by acerod1 to Business_Analyst [link] [comments]

Alternative Money Transfer Solutions

With the development of migration, individuals travelling the world to seek better opportunities had faced the challenge of moving money in a safe, quick and cheap way. For many years, the only way to send money was either carrying, mailing or trusting third parties to do it for long distances. The risky and expensive solutions have been challenged with the invention of the telegraph which gave the green light for bank wires. However, wire transfers were not only expensive and time-consuming, but they were designed to work for large amounts between people and companies who had access to financial services. More recently, the 90’s were host to the money transfer businesses bloom, with Western Union and MoneyGram becoming the main services migrants used to send money back home.
Today, in the globalized world of fast internet connection, smartphones and blockchain, people are looking for cheaper, easier and faster money transfer solutions. Financial inclusion, defined as the impossibility of individuals or companies to access basic financial services such as current and deposit accounts, loans, insurance services and payment is key to solving the remittances puzzle and building a solution that allows even the most isolated communities to access financial services.
Remittances in the Age of Blockchain
In the past few years, a new trend has emerged among people working abroad who wanted to send money back to their families: cryptocurrencies. Although we have only witnessed the beginning of the crypto transformation, we can see the impact cryptocurrencies had on the remittances market and financial services as a whole. With the development of the blockchain technology, a number of companies and startups had begun adopting cryptocurrencies to offer remittance services that promise to solve the problems of high transfer costs, speed and transparency.
Abra is a US company founded in 2014 that offers person-to-person money transfer through an app, and lets users to store cash directly on their mobile device, allowing for instant transfer of funds between them. Bitcoin is the main coin they use, and the funds are denominated in USD, with the possibility of settling in local currency on the receiver’s end.
BitSpark, a company originating in Hong-Kong offers a digital remittances service through its own BitShares platform. Payment providers must go through gatekeepers in order to access 200 world currencies. Allowing users to trade their assets by pegging their value to EUR, USD or CNY, BitSpark offers a great solution for the millions of Asians living all over the globe.. BitSpark is currently serving Indonesia, Pakistan, Vietnam and the Phillippines.
BitPesa is the African remittances transfer company, established in 2013 in Kenya. Currently, BitPesa is active in Nigeria, Tanzania and Uganda and it relies on Bitcoin for the transfer of money, removing correspondent banks from the transactions.
Migrant Coin — A better solution?
A couple of other initiatives have appeared within the remittances industry world. However, most of them allow for money transfers between users who already have access to financial services. Credit cards, ATMs and banks are unfortunately not available for a large number of people. In most developing countries, cash remains the only reliable method of paying for specific goods and services.
MigrantCoin is the only cryptocurrency-based reversible money transfer method that aims to engage people with no access to a bank account. MigrantCoin addresses the less tech savvy and aims to make it easier for people to receive money, in cash, using a smart system based on transfers between post offices and door-to-door delivery. The innovation brought by MigrantCoin is exactly related to the fact that it addresses people who don’t have access to traditional financial institutions either because these don’t exist in their areas or because they don’t have the necessary paperwork to open an account. Using a smart system based on local intermediaries, MigrantCoin promises to send the money at your family’s doorstep in 24h.
We plan on making money transfer easy, regardless on where you are. Using the blockchain technology, MigrantCoin will not only decentralize the remittances industry, but also offer a solution that is cheaper, faster, user-friendly and a lot more secure.
If you are interested in what we’re doing, check out our website, whitepaperand join our Telegram group to stay updated with the latest developments.
BitSpark, a company originating in Hong-Kong offers a digital remittances service through its own BitShares platform. Payment providers must go through gatekeepers in order to access 200 world currencies. Allowing users to trade their assets by pegging their value to EUR, USD or CNY, BitSpark offers a great solution for the millions of Asians living all over the globe.. BitSpark is currently serving Indonesia, Pakistan, Vietnam and the Phillippines.
BitPesa is the African remittances transfer company, established in 2013 in Kenya. Currently, BitPesa is active in Nigeria, Tanzania and Uganda and it relies on Bitcoin for the transfer of money, removing correspondent banks from the transactions.
Migrant Coin — A better solution?
A couple of other initiatives have appeared within the remittances industry world. However, most of them allow for money transfers between users who already have access to financial services. Credit cards, ATMs and banks are unfortunately not available for a large number of people. In most developing countries, cash remains the only reliable method of paying for specific goods and services.
MigrantCoin is the only cryptocurrency-based reversible money transfer method that aims to engage people with no access to a bank account. MigrantCoin addresses the less tech savvy and aims to make it easier for people to receive money, in cash, using a smart system based on transfers between post offices and door-to-door delivery. The innovation brought by MigrantCoin is exactly related to the fact that it addresses people who don’t have access to traditional financial institutions either because these don’t exist in their areas or because they don’t have the necessary paperwork to open an account. Using a smart system based on local intermediaries, MigrantCoin promises to send the money at your family’s doorstep in 24h.
We plan on making money transfer easy, regardless on where you are. Using the blockchain technology, MigrantCoin will not only decentralize the remittances industry, but also offer a solution that is cheaper, faster, user-friendly and a lot more secure.
If you are interested in what we’re doing, check out our website, whitepaper and join our Telegram group to stay updated with the latest developments.
submitted by Nick30311 to MigrantCoin [link] [comments]

Winds of Change: Digital Money

Winds of Change: Digital Money
https://preview.redd.it/mm5oizhgz4n21.jpg?width=1080&format=pjpg&auto=webp&s=36b1ffbf7cb79bd1deba766efa46d9dfdacb5352
Winds of Change: New Digital Currency
“Change is the only constant,” wrote the ancient Greek philosopher, Heraclitus of Ephesus.
Let me begin with the big issue on the table today—the changing nature of money.
When commerce was local, centered around the town square, money in the form of tokens—metal coins—was sufficient. And it was efficient.
The exchange of coins from one hand to another settled transactions. So long as the coins were valid—determined by glancing, scratching, or even biting into them—it did not matter which hands held them.
But as commerce moved to ships, like those that passed through Singapore, and covered increasingly greater distances, carrying coins became expensive, risky, and cumbersome.
Chinese paper money—introduced in the 9th century—helped, but not enough. Innovation produced bills of exchange—pieces of paper allowing merchants with a bank account in their home city to draw money from a bank at their destination.
The Arabs called these Sakks, the origin of our word “check” today. These checks, and the banks that went along with them, spread around the world, spearheaded by the Italian bankers and merchants of the Renaissance. Other examples are the Chinese Shanxi and Indian Hundi bills.
Suddenly, it mattered whom you dealt with. Was this Persian merchant the rightful owner of that bill? Was the bill trustworthy? Was that Shanxi bank going to accept it? Trust became essential—and the state became the guarantor of that trust, by offering liquidity backstops, and supervision.
Why is this brief tour of history relevant? Because the fintech revolution questions the two forms of money we just discussed—coins and commercial bank deposits. And it questions the role of the state in providing money.
A new wind is blowing, that of digitalization. In this new world, we meet anywhere, any time. The town square is back—virtually, on our smartphones. We exchange information, services, even emojis, instantly… peer to peer, person to person.
We float through a world of information, where data is the “new gold”—despite growing concerns over privacy, and cyber-security. A world in which millennials are reinventing how our economy works, phone in hand.
And this is key: money itself is changing. We expect it to become more convenient and user-friendly, perhaps even less serious-looking.
We expect it to be integrated with social media, readily available for online and person-to-person use, including micro-payments. And of course, we expect it to be cheap and safe, protected against criminals and prying eyes.
What role will remain for cash in this digital world? Already signs in store windows read “cash not accepted.” Not just in Scandinavia, the poster child of a cashless world. In various other countries too, demand for cash is decreasing—as shown in recent IMF work. And in ten, twenty, thirty years, who will still be exchanging pieces of paper?
Bank deposits too are feeling pressure from new forms of money.
Think of the new specialized payment providers that offer e-money—from AliPay and WeChat in China, to PayTM in India, to M-Pesa in Kenya. These forms of money are designed with the digital economy in mind. They respond to what people demand, and what the economy requires.
Even cryptocurrencies such as Bitcoin, Ethereum, and Ripple are vying for a spot in the cashless world, constantly reinventing themselves in the hope of offering more stable value, and quicker, cheaper settlement.
By the way , ND tokens will be sold at the crypto exchanges thus increasing liquidity and pricing transparency. We plan to issue our own debit cards with the possibility of payment anywhere around the world. Conversion of NDCOIN tokens into fiat money will also create demand for our token and drive growth of quotations.
submitted by nd_invest_ico to u/nd_invest_ico [link] [comments]

[ALTCOIN ASSEMBLY WEEKLY - BCAP] June 2, 2017

Good morning all, I am submitting our Altcoin Assembly Weekly two days early because of some prior committments this coming Sunday. Enjoy! And as always, looking forward to some great discussion around this.
Our focus this week is on Blockchain Capital.
Blockchain Capital (www.blockchain.capital) (formerly Crypto Currency Partners) is a venture capital company that invests in blockchain related companies. It is headquartered in San Francisco, California. It was founded in October 2013 by Bart Stephens, Bradford Stephens and Brock Pierce. To say they invest in blockchain related companies is an understatement. They ONLY invest in ventures inside the space. As of now anyway, who knows if that may change in the future. They are one of the few VCs that do this.
Bart and Brad are brothers who have been involved in the financial sector for quite some time. Bart started his career at e-trade in the FinTech sector while his brother was a former hedge fund manager at Fidelity. They also ran one together for ten years.
Brock Pierce is someone that you may know as Chairman of the Bitcoin Foundation. All three combined bring a wealth of experience to the venture. Having a quick look at their advisory board, it reads names like Vinny Lingham, Bobby Lee and Charlie Lee among traditional financial corporate heavyweights. Entrepreneur and self titled Disruptepreneur, Jeremy Gardner resides at Blockchain Capital as well. He is an Augur co-founder.
They are currently invested in 40+ companies and have a proven record of exits as well. See below this post for their current holdings and past acquisitions which are publicly available.
Another part of their business is money management, usually for family offices, high net worth individuals including 25 Bitcoin CEOS.
The aim of Blockchain Capital is to invest in early stage fundraising, meaning they will meet with teams that may only have a small group of devs and a PowerPoint presentation. That’s a great position to be in since this is where the most money can be made if prospects can pass their criteria. Primarily, they want to see strong engineering teams with a proven track record of success. The opportunities need to lie in places where there is a large total available market, have an engineering advantage or a new business model that sits overtop free to use hardware/software models. Go big or go home right? Investing in A, B or C round is something they don’t ignore either.
Their ICO has happened already (April 10 to May 17, 2016) and it was successful. Their ticker is BCAP, an Ethereum based smart contract token. They raised $10MM in 6 hours, self-proclaiming they were oversold. This is 20% of the total funds they are raising. The rest will come through traditional channels and will not have a token. Though their token supply is also 10MM, valuing each $1.00. As of this (Sunday, June 4, 2017, the value of BCAP is currently $1.73.
The token represents an indirect fractional non-voting economic interest in Blockchain Capital. The sales were only available to accredited investors. Interested parties had to submit documentation to confirm their identity and net worth/income. A complete turnaround from how ICOs are usually currently conducted. They could be setting the way for how future sales happen. Keep in mind this isn’t a completely new concept. From what I know, they have been in touch with the Federal Reserve on how to structure this so I feel it wasn't done blindly or without guidance.
What they did here was disrupt the very industry they work in. And why wouldn’t they try to? It makes perfect sense. Why wait for someone else to do it? Your local cab company didn’t start Uber. Netflix isn't owned by Blockbuster. Look where those two are now. One is struggling to catch up and the other is defunct. This is a perfect example of a firm who sees blockchain technology as both a threat and an opportunity.
The funds raised from their ICO will be split 50/50. Half will be for new ventures. The remaining for follow-up investments.
Their token grants holders a portion of the profits earned by their investment fund. They wish to spread $500,000 per investment which means 20 deals at that rate. Blockchain Capital will take a 2.5% management fee from that plus a 25% performance fee calculated on the returns. The remainder of the profits will be distributed to the token holders.
Further, a token buyback provision will also enable them to purchase tokens on the open market. This would be in the event that their market value tumbles below their net asset value.
I’m curious to hear your thoughts on this. As mentioned, this isn't an ICO we're used to seeing although this isn't the first of its kind. I do not own any BCAP and I’m hoping u/laughncow can add something here given that he met and spoke with Brock Pierce at his party in NYC during Consensus 2017.
Portfolio includes: o Coinbase – (https://www.coinbase.com) o ABRA - (https://www.goabra.com/) o AlphaPoint -(https://alphapoint.com/) o Bitaccess - (https://www.bitaccess.co/) o BitFury - (http://www.bitfury.org/) o BitGo - (https://www.bitgo.com/) o Blade - (http://www.bladepayments.com/) o BitPesa - (https://www.bitpesa.co/) o BLOCKCYPHER -(http://www.blockcypher.com/) o Blockstream - (http://www.blockstream.com/) o BTCC - (https://www.btcchina.com/) o Chain - (https://chain.com/) o Civic - (https://www.civic.com/) o ETHCORE - (https://parity.io/) - Led by Gavin Wood, with Fenbushi who VB is a partner in o Expresscoin - (https://www.expresscoin.com/) o Gem - (https://gem.co/) o Go - (https://www.gocoin.com/) o itBit - (https://www.itbit.com/) o Kraken - (https://www.kraken.com/) o LedgerX - (https://ledgerx.com/) o Noble - (http://noblex.io/) o PEERNOVA - (http://peernova.com/) o Ripple - (https://ripple.com/) o SFOX - (https://www.sfox.com/) o SNAPCARD – (https://www.snapcard.io/) o Stampery - (https://stampery.com/) o Stem - (http://stem.is/) o String - (http://string.technology/) o TIERION - (https://tierion.com/) o WAVE - (www.wavebl.com/) o Xapo - (https://xapo.com/es/) o zenbox o zipzap - (http://zipzapinc.com/) o ShapeShift - (https://shapeshift.io/) o Ox - (https://0xproject.com/)
Exits include: o Authy – Acquired by Twilio o Bex.io - Acquired by Klinch o Bitnet - Acquired by Rakuten o ChangeTip - Acquired by Airbnb o Coinsetter - Acquired by Kraken
Side note: Had you not participated in the ICO for whatever reason, they also have an AngelList network that allows smaller investors to get in on their deals with as little as $1K. I think this is smart on their part to extend and flex their financial reach. You can visit their page here, (https://angel.co/blockchain-capital)
Edit: Formatting
submitted by 053179 to ethtraderpro [link] [comments]

letter to matt miller

Doing it here and open so the community can comment.

Matt, I wasn't at first interested in the 12 days of bitcoin series because I expected a lot of noobery and didn't recognize how involved you were getting with the community. After seeing some of your posts though I checked one out and was/am extremely intrigued; and now, I wait with bated breath for the next one to come out.
What turns out to be the most fascinating to me is your clear change in perception; from skeptical to clearly a bitcoin defender. It may be early to call you an enthusiast(?) but seeing your visceral reaction and reasonable defenses against the knee-jerk negativity of the other.. do we call them anchors? is A+ entertainment from someone who used to get excited anytime bitcoin was even mentioned on the news.
The videos are sadly shorter than I would hope; always seeming to be cut off due to what I assume are network television constraints. If it's at all within your pull, I highly encourage you to make web-only cuts a la the way the daily show deals with longer-form interviews.
I think your animations are hilariously terrible; but your target audience is not myself (nor most of the people here).
With all the intro out of the way, I want to say:
Wow dude, good fucking job. I'm extremely impressed with your attitude, the things you say, and your tone with the others you are talking to.
I'd like to see, and would recommend a segment on 'real' bitcoin security. You talk about how it's untouchable by governemnt, etc.. but how secure is your bitcoin stash.. how much third party risk are you exposed to.. how much third party risk do you need to be exposed to in order to use bitcoin.. how does this compare with a fiat bank? Some bits on cold storage (why not put .1 btc away for retirement?) in paper wallets, electrum seeds, etc..
I'd really like to see more of a debate between you and one of the more skeptical hosts.
Something I keep seeing again and again, both in your segments and the media at large is this store-of-value vs means-of-transaction dichotomy. I think it would serve you well to really grok the fact that bitcoin fundamentally cannot be a means-of-transaction without it being a store of value. In the same way one of these alt-coins with tiny market caps cannot transmit significant amounts of value over their network without severely affecting exchange rate; bitcoin is limited in its ability to exchange value by it's total market cap. Consider trying to exchange 15 billion dollars with bitcoin; to acquire/sell that much bitcoin is essentially impossible since it is bigger than the total market cap. Thus, with a market cap of zero, you are limited to zero ability to transact. Similarly, transactions in bitcoin are actually limited to a small (uncalculated afaik) fraction of total market cap of bitcoin to be considered useful.
That is not to say that bitcoin needs to be used as a store of value by everyone who wants to transact with it; just that bitcoin is only useful as a transactional mechanism if someone is storing value in it. Conversely, bitcoin as a store of value is directly linked to it's use as a transactional mechanism. Luckily the world seems to be full of people willing to speculate on / hold bitcoin for those who just want to use it to transmit.
When people say that bitcoin is a commodity and not a currency; logically bitch slap them and remind them that anything that acts like a currency is a currency. Take a quick peak at : http://en.wikipedia.org/wiki/Commodity_money and remind people that just because they don't want to use bitcoin as a currency doesn't mean that when I buy plane tickets / cars / food / drugs / electronics / services / hotel rooms / cocktails; I am not literally using bitcoin as a currency. If you can spend something to buy something it is a currency; regardless of any old-paradigm-clinging pundit's notion of what the world ought to look like.
You talk a lot about how the bitcoin community is different than wallstreet is trained to think; with people generously tipping you and others; I think a shout-out to Seans Outpost would be a good thing.. the way he/they have leveraged bitcoin to do insane amounts of good can maybe help some to get this bitcoin=drugs/child-porn/terrorism notion out of people's heads and into reality.
Talk about remittances; m-pesa loaded with bitcoin as a concrete example, but also the general notion of wellsfargo fees compared with average remittance size; and how bitcoin can compete with that.
Maybe this isn't ready for bloomberg tv, but for yourself, consider the implications of cryptocurrency as an idea for the long term. Consider the (extremely unfair?) divide that is created by those with access to essentially free federal reserve sourced capital and what it means for the world if the source of money is literally hashing power; what happens to the institutions what make up like 20% of GDP and 40% of all profits if this source of free capital dries up? What happens to the world's "have-nots" if the parasitic version of the "haves" have less?
Those who have seen the light see that cryptocurrency (not necessarily bitcoin.. though it appears IMO to be a long-term player) will change the world as dramatically as electricity, combustion engines and the internet. There are zero signs of decreased adoption; and looked at long term an S-curve adoption is all but imminent. Do you see it yourself? Do you see how this idea, a distributed proof of work, guaranteed-fair, block-chain ledger is just too-good and too obvious to EVER go away without something better coming along? What you are reporting on now will almost certainly go down in history as one of the most fundamental changes in human society.
That is not to say that fiat currencies will go away soon or ever; but bitcoin is a new class of thing; not to be compared as silver vs gold; but apples vs oranges. Comparing gold to bitcoin or bitcoin to dollars is like comparing a Model-T with a horse-drawn buggy; or a wind-powered mill (windmill) vs AC power in general.
Importantly, this same argument applies to the deflationary aspect of bitcoin.
First and foremost, bitcoin is still inflating, how this point gets missed by all the nay-sayers (and advocates) is beyond me, but its important to note that over the next year ~1.3 million new bitcoin will be minted; a horrendously large >10% rate of inflation!
Secondly, and more to the point; every single anti-anti-inflation argument is tied up in the notion that the non-inflating currency is the only available currency. There is no reason to think that this is, or ever will be, the case; or the goal. Bitcoin can and will run in parallel with fiat currencies for a long, long time to come.
And those who argue that people won't spend bitcoin because it's deflating, and is therefore useless.. push them to the logical extreme of the argument... if it's useless isn't it valued at 0?
Wont it inevitably go to zero? If it will inevitably go to zero, won't there be a period of time where it is going down in value? Won't people then be encouraged to spend their bitcoin?
Why do people buy cellphones today at 3x the cost of what they will cost them in 6 months?
Why do people spend bitcoins at all, which they clearly do (100MM through bitpay alone).. if this infallible economic argument is accurate? Push on them and see what they say. If a physicist says that "when i drop a ball it will fall at a certain rate" and someone drops a ball and it falls at a different rate; the physicist has to change his underlying theory. When an economist says "people wont spend bitcoin", and people actually do spend bitcoin, why are they not forced to change their underlying theory?
submitted by eof to Bitcoin [link] [comments]

Bitcoin is going to change the world; this coffee is an example why.

I think Bitcoin is going to change the world, not because of freedom from oppressive government nor smaller money transfer fees in the West, but because it brings the producer closer to the consumer. ie, social change.
This bitcoin-only coffee is from Roast Station, pictured here, but check out just one and half mins of the guy's interview from 1:00, or manifesto if you don't want to watch a video.
My point is not about cutting out middlemen or large corporates, but about enabling producers at any stage of the supply chain to feasibly reach more than just one market. In a similar way that M-PESA took off in Kenya - farmers/suppliers that otherwise could not effectively reach their markets now can. Or individuals can find work as expats and send money back home (or maybe not, for Somalis using GBP.)
I think this will enable more entrepreneurial types (that probably don't think of themselves as entrepreneurs) to do stuff, build things, produce goods and get rewarded for it. And this adds true value to the world (in contrast to bloody monetarists who for some unknown reason think that as GDP is an indicator of standard of living, simply increasing the number with a printing press will increase the standard). Just think, 4 billion people without bank accounts but who do own a mobile phone...it's huge! :)
submitted by marcoski711 to Bitcoin [link] [comments]

Bill Gates opinion on Bitcoin from today's AMA

[–]dirtbikerr450 730 points an hour ago
What is your opinion on bitcoins or cyptocurency as a whole? Also do you own any yourself?
[–]thisisbillgates[S] 1043 points an hour ago
Bitcoin is an exciting new technology. For our Foundation work we are doing digital currency to help the poor get banking services. We don't use bitcoin specifically for two reasons. One is that the poor shouldn't have a currency whose value goes up and down a lot compared to their local currency. Second is that if a mistake is made in who you pay then you need to be able to reverse it so anonymity wouldn't work.
Overall financial transactions will get cheaper using the work we do and Bitcoin related approaches.
Making sure that it doesn't help terrorists is a challenge for all new technology.
[–]karmanaut 59 points an hour ago*
He already answered this in his last AMA
[–]n_body 41 points an hour ago
The foundation is involved in digital money but unlike Bitcoin it would not be anonymous digital money. In Kenya M-pesa is being used for almost half of all transactions. Digital money has low transaction costs which is great for the poor because they need to do financial transactions with small amounts of money. Over the next 5 years I think digital money will catch on in India and parts of Africa and help the poorest a lot. (http://www.impatientoptimists.org/posts/2011/01/mobile-phones-savings-a-powerful-pair) 
[–]ItchyIrishBalls 56 points an hour ago
Maybe his thoughts have changed? That was a year ago.
[–]thisisbillgates[S] 146 points 58 minutes ago*
We are far closer to getting these digital currencies into the poor countries. It was a year of great progress. We are hoping to have India and Nigeria going in the next 2 years if things go well. Kenya and Tanzania and Bangladesh have grown a lot although those systems still need some improvements.
submitted by baristacoin to Bitcoin [link] [comments]

Stellar Lumens HODL alert: 2017 Round up, Partnerships, 2018 Road Map

THIS ARTICLE IS STILL UNDER CONSTRUCTION!!!!!
Stellar Lumens HODL alert: 2017 Round up, Partnerships, Lumens vs. Other Cryptos
Welcome everyone! The future of Stellar Lumens is bright! Today we will look at the accomplishments of Stellar.org in 2017.
. .
2017 Round Up
IBM / Stellar Partnership
• Kik Messenger’s KIN coin to move from Ethereum to Stellar in 2018
• Stellar ATM introduced in Singapore
• Jed McCaleb confirms IBM/Stellar has 30 banks on board (Youtube Video)
Lightyear.io enables forward thinking financial entities to easily join the Stellar ecosystem.
• IBM adds 8 new validators from 8 different countries onto the Stellar network (article)
Forbes calls Stellar “venmo, but on a global scale - and for larger bodies like banks and corporations.”
• Stellar Lumens Is Up 6,300% Since March and Is Aiming for Big Blockchain Partners (article)
• Many new partnerships (listed below) that will be using the Stellar network in 2018.
Binance and GoPax Exchanges Adds Stellar
Ledger Nano S support is now available for Lumens (XLM)
• The next coin to break into the top 10 cryptos (article)
.
.
2017 Partnerships & Financial Institutions
IBM - is an American multinational technology company headquartered in Armonk, New York, United States, with operations in over 170 countries. IBM partnered with Stellar to help financial institutions address the processes of universal cross-border payments, designed to reduce the settlement time and lower the cost of completing global payments for businesses and consumers.
SatoshiPay - a web payment system that helps online publishers monetize digital assets like news articles, videos, or PDFs in tiny increments without friction.
EXCH.ONE - is a FinTech software company based in Switzerland currently working to integrate its platform and its first technology adopter Euro Exchange Securities UK Ltd. into the Stellar network. This addition to the Stellar network will bring access to currency markets of South and Central America,UK and a number of EU countries.
Novati (ASX:NOV) - is an Australian-based software technology and payment services provider. Novatti is currently working to integrate it’s platform into the Stellar network with the ultimate aim to build a global money transfer solution to provide cross border, cross currency and cross asset payments.
Pundi X - is an Indonesia based fintech company that provides POS device, debit card, multi-currency wallet that empowers individuals to buy and sell cryptocurrency at any physical store in the world. They say "buying cryptocurrency should be as easy as buying a bottled water."
MoneyMatch - is a Malaysia based fintech startup that provides a fully-digital peer-to-peer currency exchange platform for customers to transfer and exchange foreign currencies with complete ease and at great value. The company plans to integrate with the Stellar network and enable pay in and pay out from Malaysia.
Streami - is a Korea based fintech company that offers blockchain enabled cross-border remittance service and recently launched a cryptocurrency exchange. The partnership extends both on the exchange side and remittance operations.
Neoframe - is developing and marketing trading solutions for big brokerage firms in Korea and extends its business to blockchain based applications. Neoframe developed high performance centralized cryptocurrency exchange as well as secure wallet solutions and is working with big financial players. The company is planning to launch a remittance business for ASEAN countries (Thailand, Vietnam, Indonesia, Malaysia, Philippines, Singapore, Myanmar (Burma), Cambodia, Laos, Brunei) using Stellar.
SureRemit($RMT) - is a Nigeria based global non-cash remittances company. SureRemit leverages the Stellar blockchain platform to connect immigrants abroad directly with merchants that provide the services needed by their loved ones back home. With Remit tokens, immigrants all over the world can access digital shopping vouchers that can be spent on goods and services at accepting merchants wherever they are.
Cowrie Integrated Systems - is a Nigerian based Value Added Service Provider. Cowrie provides services at the intersection between telecoms and finance. Cowrie recently joined the Stellar network to bring novel fintech services to the African market.
Smartlands - is a Stellar-based platform designed to create a new class of low-risk tokens, secured by real, profitable assets in the real-world economy. Smartlands is designed to promote investments in the agricultural sector by allowing investment in individual projects, agricultural companies or indexes of groups of projects. These investments will be fully collateralized by agricultural real estate, other productive assets such as fruit or nut trees or, in some cases, the actual crop.
Klick-Ex - is an award winning regional cross-border payments system delivering financial infrastructure for emerging markets. It has been responsible for dramatic uptake in digital financial services in unbanked regions of the world, and lowering costs for banks, central banks and consumers in low liquidity currencies. Its key presence is in the Pacific and Europe, and it is a founding member of www.APFII.org processing more than 775,000 transactions per second, per billion of population (source).
Mobius - Mobius connects any app, device, and data stream to the blockchain ecosystem. Our simple and easy to use bidirectional API allows non-blockchain developers to easily connect resources to smart contracts and more. The Mobius MVP acts like Stripe for Blockchain by introducing innovative standards for cross-blockchain login, payment, smart contract management, and oracles. The Mobius Team includes David Gobaud, Jed McCaleb (Stellar.org founder), Jackson Palmer (creator of Dogecoin), and Chandler Guo (notorious Bitcoin & blockchain investor).
Chaineum - Chaineum, the first French ICO Boutique, will use the Stellar network for upcoming ICOs. “Chaineum is positioned as the first “ICO Boutique” in France, providing a range of end-to-end services to companies and international start-ups wishing to develop with this new funding mechanism. Chaineum is preparing 8 ICOs by the end of 2017, for European, North American and Asian companies, of which cumulative amount could reach € 200 million." (source)
Poseidon Foundation - Poseidon will simplify the carbon credit market with the creation of an ecosystem built on Stellar.org’s blockchain technology. This technology will prevent double counting of carbon and will be consistent across jurisdictions, making it easier for companies to deliver and measure progress towards their climate targets or other goals such as deforestation-free commitments.
Remitr - Remitr is a global platform for cross border payments, licensed in Canada. Remitr uses the Stellar network for international settlements for businesses as well as other payment partners. Remitr’s own payout network of 63 countries, comprising several currencies, is extended onto the Stellar network.
MSewa Software Solution (MSS) - MSewa Software Solution (MSS) Payments provides a one-stop digital payment service available across the Globe. MSS Payments aims at serving the consumers (Banked, Unbanked and Underbanked) with mobile banking facilities on the move from anywhere by transferring funds in their mobile phone.
PesaChoice - PesaChoice is a leader in international bill payment services for the African diaspora. PesaChoice aims at making international bill payment process easy, seamless, secure, with reasonable and competitive service fees, and up to date technological advances.
SendX - Singapore based SendX, in partnership with Stellar, is the better way to move money worldwide. The SendX team believes that the future of transactions is decentralized and distributed, bringing true equity to everyone across the value chain.
VoguePay - VoguePay, with offices in the United Kingdom and Nigeria, is partnering with Stellar to become the cheapest and most efficient way to send money between the United Kingdom and Nigeria. In the coming months, they expect to expand this service to other selected African countries.
HashCash - Hashcash consultants build financial solutions for banks and financial institutions over blockchain. We leverage the Stellar platform to build products that vastly improve the remittance and payments experience for banks and their customers. Transfers happen lightning fast at a fraction of current rates and operational cost is significantly reduced. HashCash is headquartered in India, with operations across South Asia and the Gulf.
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Stellar Lumens vs Other Cryptocurrencies
Lumens vs. Bitcoin: Jed McCaleb spoke at Distributed Markets in 2017 about the advantages, but more importantly, the disadvantages of Bitcoin. Listen to the talk here. Jed said, “Bitcoin is this awesome innovation. The first thing it does is converts a real world resource, electricity, into a digital asset. So it takes something from the real world and puts it into the digital realm. The second thing it does is provides immutable public record. It’s basically a database that everyone can see but no one change arbitrarily… That’s great, Bitcoin solves the double spin problem [ of proving possession and transmitting volume]… [However, to fix the problems of bitcoin] you might think well maybe we’ll just kind of keep adding [software] to Bitcoin until we get there, but that’s not really the way software works. You want to have the design from the beginning and solve these simple issues. Bitcoin was designed to be a new currency, it wasn’t really designed to be this unifying universal payment network. So that’s what Stellar does. It solves these three remaining issues.”
Lumens vs. Bitcoin #2: According to wired.com, "Bitcoin mining guzzles energy - and it's carbon footprint just keeps growing." Wired says "Today, each bitcoin transaction requires the same amount of energy used to power nine homes in the US for one day... The total energy use of this web of hardware is huge—an estimated 31 terawatt-hours per year. More than 150 individual countries in the world consume less energy annually. And that power-hungry network is currently increasing its energy use every day by about 450 gigawatt-hours, roughly the same amount of electricity the entire country of Haiti uses in a year." Because Stellar is based on a consensus algorithm rather than mining, it takes much less energy to run the Stellar network. The Poseidon Foundation decided to build their platform on Stellar rather than Ethereum or Bitcoin because of this (twitter source).
Lumens ICO tokens vs. Ethereum ICO tokens: According to Stellar.org, "traditionally, ICO tokens have been issued on the Ethereum network in the form of ERC20 tokens. ERC20 tokens are easy to issue and are infinitely customizable using Ethereum’s smart contracting language. However, recent events have highlighted and exacerbated some weaknesses of the network, including slow transaction processing times for the network during ICOs and increasingly expensive gas prices (by fiat standards) for transactions and smart contract execution. Moreover, many organizations require only basic tokens; they adopt the risk of Ethereum’s Turing complete programming language without taking advantage of many of its benefits."
"While Ethereum has the most expressive programming capabilities, we believe Stellar is the best choice for ICOs that do not require complex smart contracts. Stellar’s primary goal is to facilitate issuing and trading tokens, especially those tied to legal commitments by known organizations, such as claims on real-world assets or fiat currency."
Stellar vs. Ethereum #2: The median transaction time on Stellar is 5 seconds, compared to approximately 3.5 minutes on Ethereum (source). Stellar has a negligible transaction fee (.00001 XLM ~= $0.0000002) with no gas fee for computation, while depending on the complexity of the computation, the median cost for a transfer on the Ethereum network is $0.094. Security: While both Stellar and Ethereum run on a decentralized network, the Stellar network has fewer security pitfalls. Stellar uses atomic transactions comprised of simple, declarative operations while Ethereum uses turing complete programming capabilities which produces less auditable code and greater risk of exploitable vulnerabilities (source). Recently, a security flaw in the Ethereum network froze millions of dollars. According to Mobius ariticle written by David Gobaud, "On November 6, 2017, Github user deveps199 'accidentally' triggered a bug in Parity, a popular Ethereum mult-sig wallet, that froze more than $152 million in Ether across 151 addresses. The bug impacted several token sales including Polkadot, which has had ~$98 million out of its recent $145 million sale frozen."
"Mobius had none of its ongoing pre-sale Ether frozen because we do not trust Ethereum’s Smart Contract based multi-sig wallets given the vast Turing complete attack surface and did not use one. Security broadly is one of the main reasons the MOBI token that powers the DApp Store is a Stellar Protocol token and not an Ethereum token."
Lumens vs. Ripple: According to Wall Street Bitcoin Exchange, "Many investors like to compare the company [Stellar] to Ripple, and there are a lot of similarities, being that some of the founders worked on the Ripple team. In what can now be looked at as another blockchain development drama that plays out on chat boards and in interviews all across the globe. Stellar declared they fixed Ripple’s problems with their hard fork, however, Ripple has failed to admit to any of the flaws in its design that the Stellar team has pointed out." The article concludes by saying, "We Choose XLM Over XRP For 2018. That is why we are going with Stellar Lumens over Ripple in our portfolio for the rest of 2017 and 2018. After holding Ripple for a long time this year, it just never seems to make the big break like other names with bigger market caps like Bitcoin Cash, Dash, and Litecoin have. While we are holding on most all our larger market caps, we feel that Stellar Lumens will be one of the break out coins for 2018."
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Conclusion
The stellar.org team is doing an amazing job making partnerships and pioneering the use of blockchain technology for various types of transactions. What we are seeing is a new technology that can actually be used to solve real-world problems. As a community, we need to continue supporting Stellar and we will quickly see it power transactions across the world. What are your thoughts about Stellar? What do you see in the future of Stellar? Any important news you want to share? Comment below.
submitted by chargingerman to u/chargingerman [link] [comments]

Evolution of Money and Modern Day Crypto

What is a currency? By its most common definition, it refers to "money" in any form as a medium of exchange for goods and services.
Grains & Livestock: Barter system is the earliest encounter of a currency as means of exchanging goods and services. This all translates to anything considered of value such as food, weapons, materials, clothing, tools, property, housewares and etc. With time barter system evolved to specific items as it was the easiest to measure those in the marketplace such as livestock and grains.
Metal Coins: Societies in Asia later started to use the regions mineral rich deposits as the new method of currency. Mesopotamia and Egypt started to experiment with metal currency in forms of gold, silver, copper and tin. These first coins were made of a mixture of gold and silver known as Electrum. In Africa, many forms of value store have been used, including beads, ingots, ivory, ocher and other earth oxides.
Fiat & Banknotes: The Chinese were the first to manufacture paper around the world, using materials such as linen, mulberry, hemp and bamboo. With this new development and the troublesome of carrying copper coins in abundance; they started to write credit notes on paper as a means of temporary transaction which later became the light-weight paper currency we know today. Unlike previous currencies, paper money required the backing of some other asset.
Credit Cards, Venmo, & M-Pesa: Fast-forward to few decades ago to the evolution of digital methods of payment for easier, light-weight and faster transaction exchanges. M-Pesa- a mobile phone-based money transfer which operates in East Africa enables buying and selling goods and services via mobile app, whether it is livestock, groceries, clothing and etc.
Cryptocurrency: With the new modern era of cryptocurrency we are seeing another wave in the evolution of currency. Unlike the old methods that are controlled government-issued currency, now we have a private decentralized currency for the people by the people. As cryptocurrency gains popularity we will see a large adoption by the masses and the governments.
"Something is only worth what someone is willing to pay for it" Publilius Syrus This article is merely for information and is not an investment advice. This article only touches on the "currency" aspect of cryptocurrency and not the technology(blockchain). #DYOR #blockchain #cryptocurrency #bitcoin #ethereum #neo #gigapp
Gigapp- Decentralized marketplace for goods and services. http://www.gigapp.io
submitted by M-AhmedAmjad to u/M-AhmedAmjad [link] [comments]

[uncensored-r/Bitcoin] Bitcoin is fraudulent and nothing but insider Trading ...NO, Researchers find that one person lik...

The following post by Theguy3993 is being replicated because the post has been silently removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ Bitcoin/comments/7qqmjt
The original post's content was as follows:
Yeah ok keep pumping out the articles about this so funny I would bet the articles stating bitcoin went to 1000$ on fraudulent money is 100% posted by insider traders or Wall St.. And Its no secret Wall St is driven by insider trading. Heck you can watch a documentary that shows how they do insider trading using loopholes of having a couple people down the line get the info that they "donate" money to for information. But anyways I just wanted to post another rant and laugh... Also, if you want to claim bitcoin is fraudulent based on a couple people who traded 36 million dollars worth of a coin worth 250 Billion on average give or take 50 billion or 0.000144% of bitcoin then I guess all banks should close tomorrow since 90% of all money banks handle have traces of cociane on them and clearly came from fraudulent places.
Again, I will state bitcoin will rise and fall like it always does pretty much only falling from fake news pumped in sync with sell offs to try to get more for cheap, and thats fine its so obvious to me also I have traded since before Mt.Gox and the coins never went to its peak and stayed there untill after the fall of Mt.Gox. The timeline may show that right before Mt.gox froze the price of BTC was going up. Until around that time but anyone who used MT.Gox knows that no one could move, trade or withdraw there funds long before it was froze and it finally froze from the lawsuits regarding this so essentially Mt.Gox was out of the game.
And for those who like facts here you are I will include the links also
https://en.wikipedia.org/wiki/History_of_bitcoin#2013
"On 15 May 2013, the US authorities seized accounts associated with Mt. Gox after discovering that it had not registered as a money transmitter with FinCEN in the US.[52][53]
On 17 May 2013, it was reported that BitInstant processed approximately 30 percent of the money going into and out of bitcoin, and in April alone facilitated 30,000 transactions,[54]
On 23 June 2013, it was reported that the US Drug Enforcement Administration listed 11.02 bitcoins as a seized asset in a United States Department of Justice seizure notice pursuant to 21 U.S.C. § 881.[55] It is the first time a government agency has claimed to have seized bitcoin.[56][57]
In July 2013 a project began in Kenya linking bitcoin with M-Pesa, a popular mobile payments system, in an experiment designed to spur innovative payments in Africa.[58] During the same month the Foreign Exchange Administration and Policy Department in Thailand stated that bitcoin lacks any legal framework and would therefore be illegal, which effectively banned trading on bitcoin exchanges in the country.[59][60] According to Vitalik Buterin, a writer for Bitcoin Magazine, "bitcoin's fate in Thailand may give the electronic currency more credibility in some circles", but he was concerned it didn't bode well for bitcoin in China.[61]
On 6 August 2013, Federal Judge Amos Mazzant of the Eastern District of Texas of the Fifth Circuit ruled that bitcoins are "a currency or a form of money" (specifically securities as defined by Federal Securities Laws), and as such were subject to the court's jurisdiction,[62][63] and Germany's Finance Ministry subsumed bitcoins under the term "unit of account"—a financial instrument—though not as e-money or a functional currency, a classification nonetheless having legal and tax implications.[64]
In October 2013, the FBI seized roughly 26,000 BTC from website Silk Road during the arrest of alleged owner Ross William Ulbricht.[65][66][67] Two companies, Robocoin and Bitcoiniacs launched the world's first bitcoin ATM on 29 October 2013 in Vancouver, BC, Canada, allowing clients to sell or purchase bitcoin currency at a downtown coffee shop.[68][69][70] Chinese internet giant Baidu had allowed clients of website security services to pay with bitcoins.[71]
In November 2013, the University of Nicosia announced that it would be accepting bitcoin as payment for tuition fees, with the university's chief financial officer calling it the "gold of tomorrow".[72] During November 2013, the China-based bitcoin exchange BTC China overtook the Japan-based Mt. Gox and the Europe-based Bitstamp to become the largest bitcoin trading exchange by trade volume.[73]
In December 2013, Overstock.com[74] announced plans to accept bitcoin in the second half of 2014. On 5 December 2013, the People's Bank of China prohibited Chinese financial institutions from using bitcoins.[75] After the announcement, the value of bitcoins dropped,[76] and Baidu no longer accepted bitcoins for certain services.[77] Buying real-world goods with any virtual currency has been illegal in China since at least 2009.[78]"
In fact I was trading the Down swings around this time and remember it quite clearly and the price most deffinatly did not shoot up with any relation to Mt.Gox if anything Mt.Gox was the reason for the fall from the news and panic!
Also, WAKE UP PEOPLE. Wall St's total value is what 2.7 Trillion that took like 100 years to get. Does no one else realize the magnitude of Bitcoin to them. Bitcoin in 10 years or less including its many other Coins under it is worth 658-758Billion or 0.65-0.75T in 1/10th the time Wall St did it and its getting bigger all the time.
I've said it before and Ill say it again there scared because Bitcoin, (and altcoin), traders are used to volatility, We can loose 70% of our gains or investment in a day or an hour and still keep on truckin. But that type of volatility scared the pants off the big traders because they also have investors to explain these situations to and they have no merits to base there explanations on since nothing in the real world short of good and bad news or money in and money out of coins affects the prices very much. And for this reason Wall St will never like it and the fact its outside of there nice controlled systems they designed that benefit the rich and rape the poor. And this new system which does not allow credit, or BS is a new realm to them. Sure there might be some insider trading some of the time but the order books and live stats are available to anyone and everyone equally, unlike stocks where you need crazy memberships just to get short 15 minute delayed stats on the live markets and only the top accounts with over 50,000$ invested can even dream about getting anything better. And you have to pay 6.99-24.99 Per trade the lesser being for the 50k investor, leaving no learning curve for the small guys. So in my opinion its still a way better system and anyone can easily do some research like I have today and not panic sell from every little BS article and simple trade for yourselves. And Bitcoin to Altcoin trades BTW will cost you 0.06-0.08% and Bitcoin/Altcoin to USD (Or your Currency) will cost you 0.18-0.24% on most exchanges or platforms.
If you've read my rant this far I thank you for your time. Some article just really grind my gears :D
PS - Below is some handy trading platforms and tools
I would also like to take a moment just to say anyone interested in a FreeTrading Platform should check out Qt Bitcoin Trader from source forge. Or if your a bit more advanced there is a nice program you can try for free and the trial is the the same as the full version (I have used both since I bought it shortly after) and that is called LeonarDo by margin software a very talented German company.
Qt Bitcoin Trader - https://sourceforge.net/projects/bitcointrade Leonardo - https://marginsoftware.de/product.html
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

Why bitcoin will never have to worry about being quashed by big banks or sidelined by a competing crypto currency.

It's been a long running debate: Is bitcoin the defacto crypto currency? What's to stop someone else launching supermegabitcoin and stealing its crown? Why, if it's so great can't a bank come along and use it's marketing might to do the same thing?
In this post I'm going to attempt to answer these questions once and for all so that we can all leave here without a shred of doubt that bitcoin will almost certainly be the King of Cryptos for time immemorial.
I say almost certainly, because I am working on the assumptions that nothing disastrous happens to the protocol itself and that humans don't blow themselves up before it gets a chance to take off.
First, let's rewind. Back in 2011 Gavin Andresen was asked by the CIA to visit their headquarters and give a presentation on bitcoin. Present at the meeting alongside the CIA were: PayPal, Facebook Payments, M-Pesa, Heartland Payment Systems, and the Federal Reserve.
Source: http://www.bitcointrading.com/forum/talk-bitcoin/gavin-andresen-cia-visit-presentation-(june-20th-2011)-(pdf)/
It is perhaps no coincidence that just prior to the meeting Wikileaks had just started accepting bitcoin which garnered much mainstream media attention. The decision to support Wikileaks came after a long-running discussion on bitcointalk that had involved Satoshi himself (who was vehemently against supporting Julian at such an early stage in the development of bitcoin). Satoshi was outvoted and seemingly his worst fears confirmed when shortly after the CIA got in touch. Satoshi left shortly after Gavin announced he would be attending the CIA meet.
So here's what we can ascertain from this: bitcoin is giving oxygen to an organisation that has had all other payment methods frozen by the government and has been labelled a threat to national security. In tandem with this, it is also being used to fuel the world's largest online drug marketplace (Silk Road)... At this stage you would have expected two things to happen:
  1. The CIA moves fast to make any bitcoin related transaction illegal, blocking at the banking level (as they did with online gambling).
  2. The FED, Paypal or any number of the other reps present at the meeting lift the bitcoin code and implement some proprietary version of the tech that can be controlled and regulated. They launch, trumpeting it as the world's most advanced, legal, government backed crypto currency and AmeriGovoCoinPal becomes the new reserve currency backed by all the major banks, who can offer the usual payment protection etc.
Except. That didn't happen. Nothing happened. Bitcoin was left to quietly permeate it's way through the collective consciousness of the Geek hive until it began to grow at an almost exponential rate. Just taking a look at the Github repository and watching the codebase contributors expand from back when it was just Mike Hearn and Satoshi himself to what it is today is truly mind blowing.
So, how (and why) was this allowed to happen when there were so many big players at the CIA meet (including the FED itself?).
The answer is the same as you would give to the question "Why is Linux the most powerful operating system in the world?"
Because bitcoin, like linux, is open source. There is a reason the International Space Station switched to Linux, just as there is a reason so many geeks wet their collective pants when they realised what bitcoin was capable of; Put quite simply, bitcoin cannot be stopped and will always prove to be the most powerful crypto in the world because of it's open nature.
The only thing that threatens this are external events such as the Foundation making too many concessions to heavy handed regulators. But even then, the bitcoin community always has the nuclear option: forking a new version of the protocol and moving away from any perceived compromises.
"Open solutions enable the ecosystem to discover the optimal value of the solution, whereas less open systems are at the mercy of their creator having guessed at the optimal solution in the first place." - Dick Costello (co-founder of FeedBurn)
But wait. We've not even got started yet. Let's rewind right back to April 2009 when the bitcoin protocol had just 2 developers: Satoshi and Google security engineer Mike Hearn. Bitcoin was but a mere twinkle in Gavin's eye back then.
But Mike was on it. In fact, he was so taken with Satoshi's vision that he chose to dedicate his Google 20% time to the project and what he quickly realised was that bitcoin wasn't just a lovely platform for cheap monetary exchange, but...a...whole...lot...more.
Here's what Satoshi had to say about the architecture of bitcoin that Mike quickly picked up on.
"The design supports a tremendous variety of possible transaction types that I designed years ago. Escrow transactions, bonded security contracts, third party arbitration, multi-party signature etc...If bitcoin catches on in a big way these are things we will want to explore in the future, but they all had to be designed at the beginning to make sure they would be possible later."
As Mike explains here, the bitcoin protocol is FULL of features that currently lie dormant. These features are so ground-breaking, so mind-bogglingly game changing it is, for once, not a cliche to say that bitcoin represents a huge paradigm shift that will permeate every level of society and business. Every business model that relies on middle-men; from banking to real estate, from car loans to health insurance and contract law is going to go out of business unless they rapidly adapt to the forthcoming changes. In exactly the same way MP3s and P2P have driven a nail in the coffins of record industry middle-men so too will bitcoin finish any model of business that can be more elegantly dealt with by the crowd and a rock-solid mathematical algorithm.
And it doesn't even stop there, that's just short-term stuff. The next decade is going to see sooo many innovations built around blockchain and micropayment technology that the current world we are living in is going to look like something from the flintstones.
"Oh Fred, do you remember when we used to have to WALK up to parking meters and actually pay physical coins for the privilege of parking our cars?"
"Yes" Laughs Fred, "And do your remember when they used to actually pay men dressed in silly faux policemen outfits to walk up and down all day in a job they hated, just so they could check we had paid at the meter?"
"Don't forget Fred, Barney had that terrible job of having to empty all those worthless coins out of the meters and that he died on his way home - completely needlessly because some punk thought those old nickels and dimes were worth something."
"To think, only 10 years later there would be automated flying ambulances that owned themselves and his life would have been saved. Poor Barney. Google Car: Home Please"
Back In 2013...
It is not histrionic to assert that we will - in a very short space of time - look back on the current system in the same way we shiver with disbelief that there was an era not that long ago when bank clerks used to tally all our life savings in hand written ledgers.
It is of course very difficult to think ahead and predict future changes, and yet maverick technologists like Ray Kurzweil have made a fine living out of doing just that. Of course there are those that have not faired quite as well (Krugman. We are disappoint).
So why bitcoin and nothing else?
Just as nothing could stop the rise of Linux due to it's legion of nerdtastic programmers who work on it day in day out for the pure love of what they do, there is nothing that can even come close to emulating that goodwill (no matter how much money is spent on drones hired by banks or other agencies).
The global legion of talented programmers, designers, enrepreneurs, business gurus, financial experts and lobbyists (yes, lobbyists) who have already made a collective decision to dedicate their time and energy to building bitcoin into what is and what it is yet to become is an unstoppable force.
So take the red pill and buckle your seatbelt Dorothy, because that is the power of love, and it cannot be bought, sold or compromised.
submitted by smeggletoot to Bitcoin [link] [comments]

What is Microlending and does it work? Bitcoin, MPESA and Kenya Test Scanning my Stainless Steel Bitcoin Wallet - YouTube BITCOIN PRICE , BITCOIN FUTURE in doubt BEST MINING-BITCOIN HACK 2019 BITCOIN HACK PRIVAT 2019

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What is Microlending and does it work? Bitcoin, MPESA and Kenya

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