Nov 202017
 
A Major Change To Our Monetary System If history is to repeat itself, then investors and savers should be on the lookout for a major change to our monetary system in the coming years. The choices today are Gold, U.S. Dollar (fiat currencies) or Cryptocurrency. Which One Is best to prepare for the future? The most important thing to ask when choosing is “whether or not Cryptocurrency, Fiat currency or physical gold will remain money. What is Money? When analyzing each asset as Money, there are seven characteristics to observe: durability, portability, divisibility, consistency, instant recognition, acceptability and intrinsic value; as well as three functions: unit of account, medium of exchange, and store of value. Precious Metals? Jordan Eliseo (Kitco) said in a report published Monday. “Precious metals are likely the best and, just as importantly, simplest means of protecting your wealth through the difficult market environment we all face in the years ahead. History shows that physical gold has no peer when it comes to protecting purchasing power over long time periods, and why it has been humankind’s preferred choice of money for millennia.” But is that true today? Gold clearly meets the first five characteristics of Money as well as the last one: In that it is intrinsically valuable – both as an display of wealth (think jewelry) and in some industrial applications.” Cryptocurrency? I’m sure that if you’re reading this article, you’re at least a little intrigued by the idea of cryptoassets and blockchain technology. Governments all over the world are scratching their heads at what to do about this new technology. It’s an uncharted area and has already given rise to one of the greatest criminal tools of all time. An amazing part of this technology though, is that everything is decentralized and happens through the Internet, so pretty much all that governments can do is criminalize the exchanging of these cryptoassets. However, any attempts to stop development on these technologies will effectively leave these countries’ governments in the dark ages, while their citizens will still be able to skirt any regulations as long as they have the Internet. I think we’re at a pivotal moment where non-tech-oriented people are only now waking up to the idea that Cryptocurrencies aren’t just fake Internet gold, and that the other cryptocurrencies out there aren’t just a different “brand” of Bitcoin, and can be evaluated entirely on their merits. (more…)
Aug 112017
 
The silly season continues. Speculators are piling into the cryptocurrency space in the hopes of–sometimes very literally–making money fast. As I write this Ethereum’s value has halved since June but is still 20x since January. Litecoin is up 12x since then. Even Bitcoin has tripled, again. It seems like everyone now has an opinion on, and a position in, cryptocurrencies. View image on Twitter    Follow Adam Ludwin @adamludwin http://Coinmarketcap.com  is now more popular than http://WSJ.com      And hey, if you want to speculate, and casinos seem too sedate and controlled to you, then more power to you, jump right in. But for those of us who are interested in the technology, not the money — who think that blockchains are primarily interesting because, unlike most modern technology, they decentralize power — so far this has actually been a mostly disheartening year. This has been the year of the ICO, in which an astonishing amount of money has been raised by the issuance of new cryptocurrencies in exchange for existing ones, the value of which is then inevitably measured in… US dollars, which says something. Tezos, which is basically “a more flexible Ethereum” (just as Ethereum was, to vastly oversimplify, “a more flexible Bitcoin”) raised ~$230 million. Bancor, which “enables anyone to create a new type of cryptocurrency,” raised ~$150 million. Status, “an open source messaging platform and mobile browser to interact with decentralized applications that run on the Ethereum Network,” raised $95 million. TenX, “Making Cryptocurrencies Spendable Anytime Anywhere,” raised ~$80 million. Do you notice anything that these massive fundraises have in common? That’s right; they’re projects which benefit cryptocurrencies which manipulate and/or hope to supersede other cryptocurrencies. Much, if not most, of the big-money high-profile ICOs this year have been self-referential Crypto Inception. They’re built on the (often unquestioned) assumption that decentralized blockchain apps will be widespread and enormously valuable, and therefore, blockchain tooling and infrastructure will be as well. That implicit assumption sounds nice; it even sounds plausible, if you squint the right way and accept a few uncomfortable assumptions; but — uh — tooling and infrastructure for what, exactly? Bitcoin has fought its way into a valuable and important niche as a widely recognized, fairly widely used, decentralized currency and alternative to gold, which is remarkable… although as pointed out by Adam Back, CEO of Blockstream, crypto OG, and generally extremely perspicacious guy, the rise of other cryptocurrencies is arguably a threat to the whole notion of blockchains-as-currency. When (more…)
Jul 122017
 
Steven Heap/123RF By Will Nicol — Posted on July 4, 2017 6:30 am If you follow tech or financial news, you’ve probably seen the name “Ethereum” popping up over the last couple years, often in connection with bitcoin. Ethereum is a rising star in the world of cryptocurrencies, entirely digital forms of currency that grew in popularity after the creation of bitcoin by a person or group calling themselves Satoshi Nakamoto in 2009. Demand for Ethereum is so high that it may even be driving up the price of graphics cards, as miners try to generate as much currency as they can. What is Ethereum exactly, and what does it mean for the future of cryptocurrency (and maybe society)? Here’s the rundown. To start — what is a cryptocurrency? People often refer to Ethereum as a cryptocurrency, but that isn’t precisely true. It is a platform that allows individuals to conduct transactions and draw up contracts, using a currency called “ether.” To understand what distinguishes Ethereum from a cryptocurrency like bitcoin, it helps to understand what a cryptocurrency is, as well as the concept of a blockchain. A cryptocurrency is a form of digital currency created through encryption. A cryptocurrency has no physical form — like a banknote or coin — and it is not issued by a central bank or governmental authority. Units of cryptocurrency exist as data on the internet, and are created and managed through something called a blockchain. A blockchain is essentially a digital ledger, shared amongst any number of computers. When transactions occur, they are recorded in blocks; in order for these blocks to go into the ledger, they must be validated by a certain number of computers on the blockchain network. Crucially, the ledger exists, in the same form, for everyone on the network. Anyone can can look at to see a complete history of every transaction that has occurred, and any changes would be visible to everyone. The individuals who validate the transactions — which they do by having their computers solve complex computational problems — are called miners. Mining is a surprisingly intense activity, as our guide explains, that requires powerful hardware and a lot of planning. As a reward for their help in validating blocks, miners are given rewards. This is typically a specific cryptocurrency; Bitcoin miners receive bitcoin, while Ethereum miners receive ether. When you send someone an amount of cryptocurrency, a digital signature is (more…)
Jun 232017
 
Why connecting all the Blockchains is the final step for mass adoption of Cryptocurrencies Dr. Julian Hosp, 16 Jun 2017 – Development, Opinion, Protocol Dr. Julian Hosp is the co-founder and CVO of TenX, a Singapore based FintechCompany that makes any Blockchain asset spendable instantly by offering a debit card payment system to its users on the frontend and by connecting any Blockchain at the backend. Since the start of Bitcoin in January 2009, we have seen the introduction of a multitude of blockchains across all kinds of areas and financial markets. Today we can count hundreds of public blockchains that amount to a total market cap of almost 100 Billion dollars, excluding many more private blockchain installations. Last year we saw the emergence of precious metal backed tokens, derivatives, entirely new asset classes representing entire ecosystems, and even ETF tokens to invest into other blockchain assets. One such example is Initial Coin Offerings (ICOs) or token sales that are gaining in popularity. The World Economic Forum is even going as far as predicting that 10% of the global GDP will be stored on the blockchain in less than 10 years. In terms of today’s global GDP that would be $7.8 trillion. Here a challenge arises: If we as a community do not find a way to connect blockchains, these 7.8 trillion dollars will be dispersed in such a way, that its true value is a lot lower. So what is the solution? The solution is one that we have seen in a similar way being executed around 30 years ago already: Before the invention of the TCP/IP protocol the Internet was also dispersed in many local networks, so-called Intranets. These provided local efficiency over the more traditional point-to-point communication (such as letter, fax, telephone calls). The real breakthrough only came in 1973, when different Intranet networks realized that they could use a unifying Internetwork protocol to communicate among each other, thereby extending reach by compatibility even more. With the requirements for an Intranet to join the so called Internet dropping to the bare minimum, it became possible to add almost any Intranet, no matter how basic or sophisticated their characteristics were. The initial adoption by users was relatively slow, as the services offered at the beginning were limited. There was one major factor however, that eventually sped it up significantly. The same providers that were already offering mail, FAX (more…)
Apr 282017
 
Greenfire supports blockchain business and technology. It is a belief held by Greenfire that business is growing into a blockchain technology based accountability system that will provide the move into a more sound money system. Aaryn Prettyman   Maybe you’ve heard the term “blockchain” but aren’t quite sure what it is. You’d be in good company. However you may want to start learning, as it just may be a technology platform that changes the ARM industry someday. In super-simple terms, blockchain is a decentralized way of keeping track of what is “true” (i.e. who owns what, who has signed what, who has paid what, etc.). This decentralized mechanism is called a “distributed ledger” – imagine a town checkbook, but instead of living in city hall, everyone in the town has a copy of it. Each time an entry is made it must be validated by everyone with a copy, and then everyone’s copy is updated. Each update is a new “block” in the “chain,” and each block needs all the other blocks to form the whole picture. The result is said to be a highly secure, transparent, interdependent chain.  Today, most information is tracked in major centralized databases owned by one company (or government) or another. As we know, these databases are often vulnerable to hackers, they are not at all transparent, and they can be difficult to get corrected when they are wrong. This has created a lack of trust in our systems, and makes it frustrating to do business. Blockchain was first used to manage bitcoin, the new kind of electronic currency that pretty much operates on the fringe. But many are now experimenting with a wide range of other, more mainstream uses. One example is that the State of Arizona has just passed a bill giving legal status to smart contracts and blockchain based signatures. Here’s what the bill says, "A signature that is secured through blockchain technology is considered to be in an electronic form and to be an electronic signature. A record or contract that is secured through blockchain technology is considered to be in an electronic form and to be an electronic record. Smart contracts may exist in commerce. A contract relating to a transaction may not be denied legal effect, validity or enforceability solely because that contract contains a smart contract term. For the purposes of this section: “Blockchain technology” means distributed ledger technology that uses (more…)
Mar 092017
 
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Feb 232017
 
The concept of the blockchain At the moment, all global transactions regarding ownership are registered and controlled by so called “trusted” third parties. Money is registered by banks, real estate by the land register, specific contracts by notary public etc. If you want to change ownership, you need to contact the “trusted third party”, follow the right procedures (control and tracking) and the trusted third party will transfer ownership. On the blockchain, the knowledge of ownership is shared with everybody. Everybody has his ‘personal’ register of who owns what. On a regular basis, all ‘personal’ registers are compared to correct errors and ensure agreement about the ‘truth’. When there is a transaction, both the buyer and the seller broadcast the transaction and everybody has to update his ‘personal’ register, after checking if the transaction is broadcast according to the agreed procedures. The last step is for all ‘personal’ registers to be mutually compared again. When there is disagreement about the content, the most common register is accepted as being the ‘truth’. The manipulation, errors or failure of an individual register have no impact, it can fail completely and will simply be ignored by the community and every node on the blockchain network – the corrupted register has to accept the ‘opinion’ of the majority, or will be expelled. Blockchain  is a permanent, ever-expanding, de-centralised, secure global online ledger of transactions. is a software protocol (existing eg’s of protocols include HTML & SMTP) that verifies users & transactions using cryptography, without the need for a trusted 3rd party or broker. is made up of linked ‘blocks’ that hold batches of valid transaction data can register, confirm, authenticate and transfer ownership of any kind of tangible asset, or exchange of value, in a digital format. establishes trust and creates agreements without the need for a central organisation or subjective measures of reputation Bitcoin The most common type of digital transaction utilising the blockchain protocol A self-regulating virtual currency Central bank of the internet The bitcoin blockchain is public, open-source and permissionless You can view bitcoin transactions happening in-real time   Share this:FacebookLinkedInTwitterGoogleTumblrPinterestReddit (more…)
Feb 102017
 
Social media has penetrated individual and collective lives to a huge extent and consequently modified many of our online and offline behaviors. Public and private organizations worldwide are greatly benefiting from a better understanding of the fundamental principles governing the individual and collective behaviors of people connected through social media. Recently, a framework  called Virtual Collective Consciousness (VCC) has been put forth. It is defined as the internal knowledge motivated by social media and shared by a plurality of individuals driven by the spontaneity, the homogeneity and the synchronicity of their online actions. Thus, the extensive outreach of information sharing through social networking platforms can build a momentum of consensus based on converging informational contents. Ultimately, a common identifying  stance can be forged as a resulting effect of the collectively shared consciousness. The VCC model assumes that any virtual massive-scale collective consciousness depends on transactive memory (TM). The latter can be defined as a set of individual memory systems combined with a set of individuals interacting with each other. In other words, TM can be considered as the collective memory of the online community that is afforded by social media. So how does their collective behavior exhibit awareness, cohesion, and self-identity? We have both the internal framework and the platform, which will produce such a mind-like process. To be explicit, we use the Mycryptoworld/Infinity Economics (MCW/IE) advanced blockchain as a paradigm based on its very recent innovations in the blockchain domain. Indeed, the blockchain protocol offered by MCW/IE and its TM operations emerges as an example on which the knowledge framework of VCC can operate. Blockchains are based on strong cryptography and memory of operations – and illustrates peer-to-peer interaction with no central agency. Applied to social networks, the blockchain protocol provides an explicit model for a platform that incrementally incorporates immediate experience with an integrated memory of the past, provides a global workspace, and a mechanism for consensus between participating individuals operating within a Virtual Collective Consciousness. Blockchain protocols maintain the relatively secure identity of participants and the integrity of the records. It is this methodology of linked records that provides a proxy for a linked, on-going record of experience, which is an essential feature of idealized virtual consciousness. Making the case for adopting a blockchain approach to a social network, the result would be a cloud based entity which might satisfy the criteria for a Virtual Collective Consciousness. In any (more…)
Dec 212016
 
Cash Is No Longer King: The Phasing Out of Physical Money Has Begun (ANTIMEDIA) – As physical currency around the world is increasingly phased out, the era where “cash is king” seems to be coming to an end. Countries like India and South Korea have chosen to limit access to physical money by law, and others are beginning to test digital blockchains for their central banks. The war on cash isn’t going to be waged overnight, and showdowns will continue in any country where citizens turn to alternatives like precious metals or decentralized cryptocurrencies. Although this transition may feel like a natural progression into the digital age, the real motivation to go cashless is downright sinister. The unprecedented collusion between governments and central banks that occurred in 2008 led to bailouts, zero percent interest rates and quantitative easing on a scale never before seen in history. Those decisions, which were made under duress and in closed-door meetings, set the stage for this inevitable demise of paper money. Sacrificing the stability of national currencies has been used as a way prop up failing private institutions around the globe. By kicking the can down the road yet another time, bureaucrats and bankers sealed the fate of the financial system as we know it. A currency war has been declared, ensuring that the U.S. dollar, Euro, Yen and many other state currencies are linked in a suicide pact. Printing money and endlessly expanding debt are policies that will erode the underlying value of every dollar in people’s wallets, as well as digital funds in their bank accounts. This new war operates in the shadows of the public’s ignorance, slowly undermining social and economic stability through inflation and other consequences of central control. As the Federal Reserve leads the rest of the world’s central banks down the rabbit hole, the vortex it’s creating will affect everyone in the globalized economy. Peter Schiff, president of Euro-Pacific Capital, has written several books on the state of the financial system. His focus is on the long-term consequences of years of government and central bank manipulation of fiat currencies: “Never in the course of history has a country’s economy failed because its currency was too strong…The view that a weak currency is desirable is so absurd that it could only have been devised to serve the political agenda of those engineering the descent. And while I don’t blame (more…)
Dec 052016
 
Green Fire On The Blockchain Green Fire has decided to change the world as you know it. We are moving together onto the blockchain. We have chosen “Green Fire Gold” (GFG) as the blockchain application name. GFG will be the first to take landfill mining and reclamation on to the blockchain. GFG is designed with next generation high load blockchain protocols, utilizing a blockchain design that improves functionality with each additional user, maximizing scalability and load performance. GFG includes your own private universal wallet that allows for immediate trading and exchange between all currencies and investment markets. The GFG blockchain is designed by the best in cryptocurrency development to create a coin and mainstream payment network usable by everyone in the world. The GFG universal wallet/coin combo can be used to manage your entire life and assets. Inside are a Universal Dapp store (decentralized application store), micro-services, micro-payments, smart contracts, universal exchange, universal payment system, and custom template decentralized app building, just to name a few. Understanding blockchain The Blockchain has become the default backbone for most new financial and business development. In essence, blockchain is a distributed database, or "timestamp server," as it was called by the mysterious Satoshi Nakamoto in the paper that proposed bitcoin. The blockchain consists of blocks of data — each block is a timestamped batch of valid individual transactions and the hash of the previous block, creating a link between the two. Because each timestamp includes the previous timestamp in its hash, it forms a chain. Each new transaction must be authenticated across the distributed network of computers that form the blockchain before it can form the next block in the chain. GFG is developing a fully decentralized, leaderless DAO*, a Decentralized Autonomous Organization, and a fully distributed financial platform, OWNED BY THE PEOPLE WHO USE IT. GFG is using the MyCryptoWorld development platform to construct the GFG DAO. This platform develops on an advanced Ethereum blockchain. For the determination phase of implementation an interdisciplinary team of cryptocurrency, marketing and software veterans/enthusiasts around the globe have already started determining the intelligence that operates GFG. As soon the business determination is finished the whole system will be completely community/user driven and owned. From this point on the further evolution will be in the hands of all owners, using e-Governance/voting and other cutting edge tools to create consensus and run decisions. The GFG DAO is a (more…)