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Digital Dollar, FedNow, CBDC, the central banks spending and global push for more control through digital currency.

At the beginning of the Covid-19 outbreak a few interesting things happened. China introduced the "Digital Yuan / RMB" And in April the "Digital dollar" was proposed in the first stimulus bill here in the USA. And they haven't stopped talking about it since. High tables from the White house Financial committee, Federal Reserve, US congress. Aiming to have a digital currency working as early as 2021 to provide UBI / Universal basic income to the masses, all while being able to track, freeze, limit, manipulate spending throughout the economy. Starting to sound rather like a "Black mirror film" isn't it? Well...China has taken it a step farther with their "Social Credit system" watching and controlling nearly every aspect of life. . . but we're here to talk about currency. How could this even happen in America? Well, to start
All of the above is a partial list of factors devaluing the Dollar and trust in it from several ways and views. At the end of the day it has a huge amount of enemies, that are all looking for ways to get out of it.
Some of what I'm seeing personally.
It is a death spiral for the working person, where it used to be "No more than 30% of your wage going to housing" It is now well over 50%....Just look at this recent post in Frugal https://www.reddit.com/Frugal/comments/ifqah1/is_it_normal_for_a_third_to_a_half_of_you?utm_source=share&utm_medium=web2x&context=3
This death spiral I foresee getting worse. And historically any "tax" / regulation cost will just be passed down to the consumer in form of increased prices until people / businesses move elsewhere as we've seen in several cities around the US.

So what can we do? Buy Gold! Silver! Bitcoin! Stocks! I hear people roar, They aren't exactly wrong as history shows... but have you considered the 30-40% tax on the "gain"? Even when that asset buys the same value before tax? What if the government makes it illegal like the 1933 order: 6102 Where you couldn't own gold for nearly 50 years? You're frozen out, or even out on taxes (which will likely be more strict and controlled later in time).
I'd say Invest in things that will
Metals are the next step when a person has plenty of the above. You get to a point where you have hundreds of thousands, if not millions that you need to condense into something real.
It is all about the savings or productivity gain of the investment. For instance I would wager that many preppers have gotten more use / value out of a $800 clothes washer than a $800 rifle. (have you ever had to do manual laundry???) Sure the rifle will hold value...but it often doesn't pay you back with time / what it saved and / or what it has produced during its life unless you are using it. Same can be said of security cameras, a generator, a tractor, trailer, garden, tools, ect.
Look at history even, in countries that have experienced hyperinflation people that already had tangibles they regularly use were way ahead. It could even be honey, a tool, extra maintenance parts, can of food, that bottle of medicine, a computer to keep your intel on point, (cough # PrepperIntel plug) use of your equipment to do or make something for someone. Real Estate is good too, it rides inflation well and has many ways of being productive.
Your metals could be sitting there like the rifle, and could be subject to hot debate and laws. Meanwhile that garden is paying back, chainsaw is helping saw up wood, or your tractor is helping a job, your tools just helped you fix something / saved you much loss, Your security stopped a loss not by a person, but an random animal stealing things. Or that $25,000 solar array is paying you back by the day in spades...while making you independent...running all your tools you're using to make things to sell, and even heating / cooling some of the house with the extra juice while places around you experience rolling blackouts. You were even smart and took the current 24% tax benefit the government has saving you $5000 on it for batteries. Don't get me started if you have an electric vehicle with solar... I'm rambling at this point...and all those stealthy / direct and passive background savings...even if the crap doesn't hit the fan.
So anyways, With out of control central banks and big governments, digital currencies, How do you think it will play out? Are we heading to dystopia?
submitted by AntiSonOfBitchamajig to PrepperIntel [link] [comments]

Recap on CoinEx & Avalanche AMA Aug 5, 2020

Recap on CoinEx & Avalanche AMA Aug 5, 2020
Written by SatoshisAngels
Published by read.cash
On August 5th 2020, Satoshi’s Angels hosted an AMA for CoinEx on “How BCH and Avalanche Are Bringing Financial Freedom to 6 Billion People” on a Chinese platform Bihu. During the 100-minute event, Haipo Yang of ViaBTC and CoinEx, and Emin Gun Sirer of AVA Labs shared their in-depth views on such topics as different consensus mechanisms, community governance, IPFS, Defi. And Haipo explained why he wants to fork BCH. This is the full text.
You can check out the full AMA here (mostly in Chinese with some English translation).

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Cindy Wang (Satoshi’s Angels): There are news saying that you are to fork BCH. Is it a marketing makeover? Are you serious about it?
Haipo Yang: It’s definitely not a marketing makeover. But the details are not decided yet.
Over the past three years, the BCH community has gone through multiple discussions from reducing block time, changing mining algorithms, adding smart contracts, etc. But none of these disputes have been well settled.
BCH is a big failure in terms of governance. A lack of good governance has made it fall in disorder. It is too decentralized to make progress.
You may know that the first BCH block was mined by ViaBTC. And we gave a lot of support to it indeed. But we didn’t dominate the fork. The Chinese community in particular thought I had a lot of influence, but it was not true.
I think the whole community is very dissatisfied with Bitcoin ABC, but it is difficult to replace them or change the status quo. So I am thinking of creating a new branch of BCH. The idea is still in early stage. I welcome anyone interested to participate and discuss it with me.
Wang: Professor Emin, what’s your attitude to fork? Do you think it’s a good timing to fork BCH?
Emin Gun Sirer: I am a big fan of BCH. It adheres to the original vision of Satoshi Nakamoto. I like the technical roadmap of BCH. But just like what Haipo mentioned, BCH lacks a good governance mechanism. There are always something that can cause BCH community to divide itself.
But I think it’s not enough to just have a good governance mechanism. There are many good proposals in the community but failed to be adopted in the end. I think BCH needs social leadership to encourage discussion when there are new proposals.
Wang: We are all curious to know How Avalanche got its name?
I know that Avalanche doesn’t mean well in Chinese. But in English, it’s a very powerful word. Avalanche represents a series of algorithms piling together like a mountain. When decisions slowly form, the ball (nodes in the network) on top of the mountain starts going down the hill on one side, and it gets bigger and bigger, and like an avalanche and it becomes unstoppable, making the transaction final.
Wang: Prof. Emin, I know that you are a big blocker. Have you ever considered implementing Avalanche based on BCH? Why create another chain?
Sirer: Of course I considered that. Satoshi Nakamoto consensus is wonderful, but the proof-of-work mechanism and Nakamoto consensus base protocols have some shortcomings, such as network latency, and it is hard to scale. Avalanche, instead, is totally different, and is the new biggest breakthrough in the past 45 years. It is flexible, fast, and scalable. I’d love to implement BCH on top of avalanche in the future, to make BCH even better by making 0-conf transactions much more secure.
Wang: As an old miner, why did CoinEx Chain choose to “abandon” POW, and turn to POS mechanism?
Haipo: Both POW and POS consensus algorithms have their own advantages. POW is not just a consensus algorithm, but also a more transparent and open distribution method of digital currency. Anyone can participate in it through mining.
POW is fairer. For a POS-based network, participants must have coins. For example, you need to invest ICO projects to obtain coins. But developers can get a lot of coins almost for free. In addition, POW is more open. Anyone can participate without holding tokens. For example, as long as you have a computer and mining rigs, you can participate in mining. Openness and fairness are two great features of POW. POS is more advanced, safe and efficient.
POS is jointly maintained by the token holders, and there is no problem of 51% attacks. Those who hold tokens are more inclined to protect the network than to destroy the network for their own interests. To disrupt the network, you need to buy at least two-thirds of the token, which is very difficult to achieve. And when you actually hold so many coins, it’s barely possible for you to destroy the network.
POW has the problem of 51% attack. For example, ETC just suffered the 51% attack on August 3. And the cost to do that is very low. It can be reorganized with only tens of thousands of dollars. This is also a defect of POW.
In addition, in terms of TPS and block speed, POS can achieve second-level speed and higher TPS. Therefore, CoinEx Chain chose POS because it can bring a faster transaction experience. This is very important for decentralized exchanges. Both POW and POS have their own advantages. It’s a matter of personal choice. When choosing a consensus mechanism, the choice must be made according to the characteristics of the specific project.
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Wang: Ethereum is switching to ETH 2.0. If they succeed, do you think it will lead the next bull market?
Sirer: If Ethereum 2.0 can be realized, it must be a huge success.
But I doubt it can be launched anytime soon considering that it has been constantly delayed. And even if it comes out, I am not so sure if it will address the core scaling problem. And the main technology in Ethereum 2.0 is sharding. Sharding technology divides the Ethereum networks into small parallel groups, but I think what will happen is everyone wants to be in the same “shard” so the sharding advantages might not be realizable in Ethereum 2.0.
Avalanche supports Ethereum’s virtual machine, and Avalanche can realize 1 second level confirmation, while with sharding finalizing confirmation takes 5–6 seconds at best. Avalanche approach to make Ethereum scale is superior to Ethereum 2.0. There are many big players behind Ethereum 2.0, and I wish them success. But I believe that Avalanche will be the fastest and best Smart Contract platform in the crypto space, and it is compatible with Ethereum.
Wang: Why is Avalanche a real breakthrough?
Sirer: Avalanche is fundamentally different from previous consensus mechanisms. It’s very fast with TPS surpasses 6500, which is three times that of VISA. Six confirmations can be achieved in one second. Compared with the POW mechanism of Bitcoin and Bitcoin Cash, Avalanche’s participation threshold is very low. It allows multiple virtual machines to be built on the Avalanche protocol.
Avalanche is not created to compete with Bitcoin or fiat currencies such as the US dollar and RMB. It’s not made to compete with Ethereum, which is defined as the “world’s computer”. Avalanche is positioned to be an asset issuance platform to tokenize assets in the real world.
Wang: How do you rank the importance of community, development, governance, and technology to a public chain?
Sirer: These four are like the legs of a table. Every foot is very important. The table cannot stand without strong support.
A good community needs to be open to welcome developers and people. Good governance is especially important, to figure out what users need and respect their voices. Development needs to be decentralized. Avalanche has developers all over the world. And it has big companies building on top of Avalanche.
Yang: From a long-term perspective, I think governance is the most important thing, which is the same as running a company.
In the long run, technology is not important. Blockchain technology is developed based on an open source softwares that are free to the community. Community is also not the most important factor.
I think the most important thing is governance. Decentralization is more about technical. For example, Bitcoin, through a decentralized network method, ensures the openness and transparency of data assets, and the data on the chain cannot be tampered with, ensuring that the total amount of coins has a fixed upper limit.
But at the governance level, all coins are centralized at some degree. For example, BCH developers can decide to modify the protocol. In a sense, it is the same as managing a company.
Historically, the reasons for the success and failure of companies all stem from bad governance. For example, Apple succeeded based on Steve Jobs’s charisma, leadership and the pursuit of user experience. When Jobs was kicked out, Apple suffered great losses. After Jobs returned, he made Apple great again.
Issues behind Bitmain is also about governance. Simply put, governance requires leaders who have a longer-term vision and are more capable of coordinating and balancing the resources and interests of all parties to lead the community.
In the blockchain world, many people focus on technology. In fact, technology is not enough to make great products. User experience is most important. Users don’t care about the blockchain technology itself, but more concerned about whether it is easy to use and whether it can solve my problem.
We need to figure out how to deliver a product like Apple. The pursuit of user experience is also governance in nature. And governance itself lies in the soul of key leaders in the community.
Realize tokenization of assets in.
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Wang: Speaking of asset tokenization, I would like to ask Haipo, do you think the market for assets on the chain is big?
Yang: It must be very big. We need to see which assets can be tokenized.
Assets that can be tokenized are standardized assets, sush as currencies and securities.
  1. In terms of currency, Tether has issued over 10 billion U.S. dollars. Many people think that’s too much. But I think this market is underestimated. The market for stablecoins in the future must be hundreds of billions or even trillions, especially after the release of Facebook’s Libra. Even US dollar might be issued based on the blockchain in the future.
At present, the settlement of USD currency is through the SWIFT system. But the SWIFT system itself is only a clearing network, a messaging system, not a settlement network. It takes a long time for clearing and settlement, and it is not reliable. But both USDT and USDC can quickly realize cross-border transfers in seconds and realize asset delivery. Even sovereign currencies are likely to be issued on the blockchain. I believe RMB also has such a plan.
  1. Equity and securities markets are the largest market. But they have strict requirements for market access.
Whether a stock is listed on A-shares or in the American markets, it’s hard to obtain them. I believe that the blockchain can completely release the demand through decentralization. It can allow any tiny company or even a project to issue, circulate and finance a token.
There may be only tens of thousands of stocks currently traded globally. There are also tens of thousands of tokens in the crypto space. I believe that millions or more of assets will be traded and circulated in the future. This can only be realized through decentralized technology and organization.
The market for assets tokenization will be huge. And at present, the entire blockchain technology is still very primitive. Bitcoin and Ethereum only have a few or a dozen TPS, which is far from meeting market demand. This is why CoinEx is committed to building a decentralized Dex public chain.
Wang: Avalanche’s paper was first published on IPFS. What do you think of IPFS?
Sirer: I personally like IPFS very much. It is a decentralized storage solution.
Yang: There is no doubt that IPFS solves the problem of decentralized storage, and can be robust in the blockchain world, and can replace HPPT services. But there are still three problems:
  1. IPFS is not for ordinary users. Everybody needs BCH and BTC, but only developers need IPFS, which is a relatively niche market;
  2. IPFS is more expensive than traditional storage solutions, which further reduces its practicality. In order to achieve decentralization, more copies must be stored, and more hardware devices must be consumed. In the end, these costs will be on to users.
  3. There may be compliance issues. If you use IPFS to store sensitive information, such as info from WikiLeaks, it may end up threatening national security. I doubt that decentralized storage and decentralized public chains can survive under the joint pressure of global governments.
The IPFS project solves certain problems. But from the perspective of application prospects, I am pessimistic.
Wang: What do you think of Defi?
Yang: I want to talk about the concept first.
Broadly speaking, the entire blockchain industry is DeFi in nature. Blockchain is to realize the circulation of currency, equity, and asset value through decentralization.
So in a broad sense, blockchain itself is DeFi. In a narrow sense, DeFi is a financial agreement based on smart contracts. DeFi, through smart contracts, can build applications more flexibly. For example, before we could only use Bitcoin to transfer and pay. Now with smart contracts, flexible functions such as lending, exchange, mortgage , etc. are available. The entire blockchain industry is gradually evolving under the conditions of DeFi. DeFi will definitely get greater development in the future.
Sirer: I think Defi will definitely have a huge impact. DeFi is not only an innovation in the cryptocurrency field, but also an innovation in the financial field. Wall Street companies have stagnated for years with no innovation. Avalanche fits different DeFi needs, including performance and compliance. In the future, not only will Wall Street simply adopt DeFi, but DeFi will grow into a huge market that will eventually replace the traditional financial system.
Questions from the community:
1. How does Avalanche integrate with DeFi?
Sirer: At present, all DeFi applications on Avalanche have surpassed Ethereum. What can be achieved on Ethereum can be achieved on Avalanche with better user experience. We are currently connecting with popular DeFi projects such as Compound and MakerDao to add part of or all of their functions.
At present, Avalanche is working on decentralized exchange (DEX). The current DEXs are limited by speed and performance but when they are built on top of Avalanche it will be real-time and very fast.
2. How many developers does BCH have?
Yang: I think it does not matter how many developers there are. What matters is what should be developed. I watched Jobs’ video the other day, and it inspired me a lot. We are not piecing together technology to see what technology can do. It’s we figure out what we want first and then we use the technology we need.
The entire blockchain community worship developers. Such as they call Vitalik “V God”. It’s not necessary to treat developers as wizards. Developers are programmers, and I myself is also a programmer.
ViaBTC has a development team of over 100 people, including core members from Copernicus (a dev team formerly belonged to Bitmain). Technically we are very confident to build faster, stabler, and better user experience products.
submitted by CoinExcom to btc [link] [comments]

First Political Donation from former Trump voter now #YangGang - A guide to convert more like me

First Political Donation from former Trump voter now #YangGang - A guide to convert more like me

https://preview.redd.it/ks6z03rmtim31.png?width=1058&format=png&auto=webp&s=19ba45bdfd76c86918c81a37f99fe4d7cba0cc4e
Hello Yang Gang! You might be wondering:
  1. How did a Trump voter turn Yang Gang?
  2. How did someone who would NEVER donate to ANY political campaign end up donating to Yang?
  3. How to replicate this transformation in other voters in my demographic using social proof and the spirit of our times.
From Trump Train to Next Stop: #YangGang
My vote for Trump in 2016 was more of a vote against Hillary. I won't get into my reasonings, as this is outside the scope of this post. But I'm sure a sizeable percentage of Trump voters voted for him not because they worshipped "The God Emperor", but because they thought a political outsider would actually come in and "drain the swamp" to end corruption and pay-to-play politics in Washington.
Has that happened in Trump's first term? Some would argue yes, others would argue no, but the important point to note here is that still most folks don't really care, because like what Whoopi was arguing is how is any of it going to positively effect my living situation and my community?
The Hook: Some Asian Guy Running For President Is Literally Going To Give You $1,000 a Month
In terms of marketing, this has everything. It's what got Yang on my radar in the first place. This message is a great hook to grab the attention of new potential voters.
Some Asian Guy Running For President...
This has tremendous novelty and speaks to the multicultural nature of America these days, and especially those feel strongly about "identity politics". There hasn't been a viable Asian candidate for president before, so this in itself is compelling.
...Is Literally Going To Give You $1,000 a Month
Here's where the hook sinks in deep, because if this turns out to be true and not a scam (and people do their research when money and potential windfall is involved) people will passionately fight to make this a reality. Why?
Because there is literally no other candidate running who could more directly impact the lives of Americans than one who will actually put $1,000 a month directly into your bank account.
That's a powerful hook, and the YangGang is right to use it as the flagship policy.
The Turning Point: "It's not immigrants, it's the robots."
Andrew Yang talks about the lightbulb moment when he drops this line on folks in person and on stage. Once someone says it to you, and you understand it, it becomes so blatantly, obviously true that you cannot go back to your previous method of thinking. You then realise how stupid building a wall with Mexico is. You then realise that Amazon is the model for future entrepreneurs. You then realise that the income base that the country depends on comes from jobs that will be automated away. You then start wondering what that will do to your community, and the economy as a whole.
Then the Freedom Dividend really starts to look even more appealing!
Truck drivers are not going to #LearnToCode.
Pregnant mothers are not going to work while pregnant (nor should they be compelled to).
But the bills still have to be paid. How is that going to happen if there are fewer and fewer jobs left for humans?
Seriously now, what are the alternatives?
You've seen Trump. You know what you are going to get for the next 4 years if he wins in 2020. The rest of the Democratic field is so weak, so weak it is really really sad. Who would go see Joe Biden speak in public? Who would carry water for Buttigieg? Who would not cringe a single time while enduring a speech by Cory "Phony Douche" Booker? Who would not wonder what presidential power would do to a person like Kamala Harris, who knowingly withheld information that would have set an innocent man free on death row?
Sealing the Deal: Now 100% #YangGang
What sealed the deal for me was Trump's now infamous and awfully misinformed anti-Bitcoin and anti-Cryptocurrency tweet, where he says:

I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity...
This statement is so dumb, but so freaking dumb, that it is mind-boggling to ANYONE who understands the value proposition of cryptocurrency and blockchain based products and services. Fiat currencies (USD, EUR, RMB) are based on thin air. They are literally printed on huge machines out of thin air. USD is the #1 currency BY FAR that facilitates illicit activities worldwide, from money laundering to terrorism financing, to trafficking and other horrible things. Because cash is not easily traceable.
By contrast, blockchain based cryptos have this thing called a "blockchain" (lol really?) in which EACH transaction in HISTORY is tracked publicly FOREVER. Not so good for illegal activity, is it?
Bitcoin and Ethereum are backed by real monetary and computational networks as open, public and distributed systems. They represent a global public good, and so far only Andrew Yang has spoken intelligently about their potential in blockchain based voting.
So, when Trump came out with this tweet, I personally saw droves of Trump supporters ditching him like a bad habit on Sunday. It was shocking. To see diehard Trumpers just get off the Trump Train like that, over one anti-crypto Tweet, was amazing to see. Thinking about it, many of Trump supporters are anarcho-capitalist-libertarians, who believe wholeheartedly in the promise of blockchain. When faced with the decision of crypto or Trump, the decision was easy.
Crypto has a chance of directly positively impacting the lives of these voters. Trump, not so much. So that brings me to my point:
#YangGang should reach out to the cryptocurrency community to gain traction and voters. (More on this further down)
OK, I Want My Grand A Month Now. (How a die-hard non-campaign contributor just threw 10 bucks to Yang, because the investment is ROI positive. It's the MATH!)
If you are an entrepreneur like me, you pay a lot of attention to incentives and game theory. People lie, numbers don't. The reason I say that is because you can gain truer insight into someone's motivations (and future action) by looking at: How they spend their money; How they act in order to gain money; and what they do in order to avoid losing money.
Most people don't donate to a politician's campaign because they cannot see a clear Return on Investment (ROI) from doing so. Even if that politician does get elected, if you aren't one of these mega-doners that got face-time with the candidate to push your pet project pay-to-play scheme, you won't see ROI. That changes with Yang's Freedom Dividend (and Democracy Dollars). If Yang wins, I get my $1,000 a month. My $10 investment gets 100X return in just the first month of the dividend. That's what motivated me to donate to Yang's campaign.

How to convert Trump Train Riders - who are sick of the view and the smell - To Join #YangGang

  1. Hit 'em with the Hook. It's what got me. Tell them about the Freedom Dividend. Pure self-interest and novelty will drive them to do more research. This is the flagship issue, I would say even Yang's "Brand" and it is working so far, so keep at it.
  2. Try to reach Trump voters directly with the hook, and talk about Trump's position on crypto vs. Yang's. An estimated 10-15% of Americans have invested in crypto. This group is very passionate, and they will for sure vote for a candidate that is knowledgeable about blockchain and has a positive attitude about it.
  3. Add more clarity to Yang's policy on crypto assets. Namely: How will Crypto be taxed in the USA? Do you support the Token Taxonomy Act? Will Crypto-Crypto trades be taxed? Is there going to be a de minimus exception? How will Crypto-Fiat trades be taxed? How will purchasing goods and services with crypto be taxed? What about Initial Coin Offerings? Security Token Offerings? Blockchain Based National IDs? Blockchain Voter Registration and Voting? Tokenization of bonds, commodities, and other assets? Crypto Derivatives? I guarantee if Yang clarifies these points he will gain huge traction with the crypto communities, and might just get that diehard 10-15% to vote for him - which would tip the election in his favor.
  4. Start a Telegram Channel
  5. Social Proof Social Proof Social Proof : Elon's Tweet was amazing. If Yang can collect more influencers he can collect more voters
  6. Keep up the ground game: Phonebanking and in-person promotion of Yang's candidacy in key swing states is obviously needed, and it's being done by you fine folks from his campaign. Thanks!
  7. Always be the Adult in the room. Use reason, logic, and facts to defeat opponent's empty attacks. Point out how much of a farce politics are, the that the only candidate who isn't just spouting useless talking points is Yang.
Thanks for reading!
submitted by gfunksound to YangForPresidentHQ [link] [comments]

DIFFERENCE BETWEEN FIAT AND CRYPTO

• Fiat Currency is backed by Governments/Countries itself. What determines the value of a currency is the economic health, demand, growth, political stability to name a few, of the respective country. Before 1930, most fiat currencies were backed by gold and silver.
• Since 1971, U.S. citizens have been able to utilize Federal Reserve Notes as the only form of money that for the first time had no currency with any gold or silver backing. This is where you get the saying that U.S. dollars are backed by the “full faith and credit” of the U.S. Government - quoted in google.com.
• What backs crypto value is purely supply and demand. The demand creation of a crypto is its sole objective. To create demand, the crypto has to have a purpose. And most purpose commonly promoted is utility. The number of ways you can utilize the said crypto. The more utilization factors the more demand there is for it.
• There are other ways to substantiate value of a crypto and that is to back the crypto with a 1 to 1 ratio in assets or in USD. Then the question is, how 3,000 crypto currencies in circulation be monetary eco sustainable? Can anyone imagine walking into McDonald and view a chart of 3,000 different pricing? Which also means the crypto is a payment gateway pegging against USD instead of bearing any true characteristic of a currency.
• A country’s currency is in its own legit form of legal tender, the only currency acceptable under financial sovereigns of a country. People in the world must be made to understand that. Retailers in Thailand cannot put up products price tags in EUROS/USD, it is illegal. It has to be in Thai Baht.
• It is hardly imaginable for everyone in the world to retail with a Crypto-Currencies at a rate of 7 transactions per second. When mining nodes are reduced due to non-performing mining ratio, mining blocks in the Blockchain will significantly be limited too, rendering delays in transactions while usage increases.
• In time to come, as trends of crypto picks up, Thailand can issue BAHT COIN or UK the STERLING COIN, exactly what China wishes to do. Digital RMB, but would such crypto currencies be fully decentralized? We all have our answers. Absurd to even think of producing Thai Baht, Pound Sterling or Chinese Yuan at the cost of electricity. It is currencies in digital forms.
KRATSCOIN is not meant for that purpose. In some opinion, apart from utilization, a crypto can be for safekeeping, an entity for keeping money while allowing easy liquidation, at a click of a mobile button, not to mention sending or transferring without the trouble of going to banks, which was the original purpose of Bitcoin to begin with. Therefore, KRATSCOIN would be better termed as Crypto Commodity, sharing similarities as Metal Commodities.
An individual cannot use gold to make a purchase, neither can one eat gold. It can only be kept or invest in for appreciative value over time. Gold is being exampled for its scarcity which reasons for its higher value over its cousin, silver or bronze. Who or what determines the value of gold? Just like any other crypto, demand by humanity. As in all other commodities, it must also be placed in checks by governments. To put in checks, serial numbers are introduced to protect a country’s commodities outflows or illegal exports.
Humanity made Bitcoin a reality. Acceptance by the majority members of the public made Bitcoin to what is it today with the trust they entrusted it with, or is the majority public hopping on the band wagon to make a few quick extra bucks? Whatever the reasons are, the characteristics of Crypto Currencies are only matched by the behavior of Commodities.
SERIALIZED COINS - WHAT IT MEANS FOR THE PUBLIC: Every currency has its own remarkable name, design and colors. Dollars, Euros, Pound, Tugrik, Peso, Rupee, Rupiah, Dina, Ringgit, Baht and the list carries on. One thing every currency have in common - Serial Numbers.
In any crime, investigators will firstly establish motives and mode of operation, both of which are very likely related to money. So following the money trial is a natural thing to do for investigators/authorities and it has become a common practice. Crimes require funding ie robbers need money to buy guns to carry out its robbing activities. Cutting off financing will reduce criminal activities. That’s the approach governments of the WORLD have adopted for crime fighting.
Perhaps people do not realize this while most do not feel the pinch. Humanity tends to take life for granted until apocalypse happens. Take a minute to visualize the tallest tower in your homeland collapse into a pile of dust with thousands of casualties effecting everything else that comes to mind. Imagine a family member, just 1 is enough, is among those casualties.
• Imagine if monetary system is not in place and drug dealers, among many, roam the earth freely distributing what can be death threatening substance to your kids. What if you are mugged of your inheritance [items left to you by your father] that is beyond retrieval? As for crypto enthusiast, what if your wallet gets hacked as even the mighty Pentagon gets hacked. All the above can go away if the crypto system leaves a trail for hound dogs to sniff out. Money Trail or Serial Codes Trail to be exact.
• Citizens rely on governments and their countries to do what is best for them to lead their daily lives, flourish, advance, improve and strive but at the same time, citizens want to take away the single most important thing deemed crucial in the hierarchy of humanity from governments with additional boastful remarks such as “I transferred $400 million from one corner of the earth to another corner in a single transaction and no governments can do anything about it”.
• In-short, to boast unregulated financial movement is to arrogantly promote crime without realizing it while challenging the world’s monetary authority. Oldest advice in the book teaches us never to pick a fight we can’t win.
• Serial Coded Coins does not take away the financial movement freedom nor does it take away your privacy. It merely provides Authorities the necessary means needed for crime prevention and fighting. It only re-inforce security and safety. SERIALIZED COINS - WHAT IT MEANS FOR GOVERNMENTS: • Governments are relentlessly trying to find new ways to keep track of crypto transactions. Crypto Currency Exchanges, just like all other Financial Institutions and Banks, are required to practice the most stringent Know Your Customer (widely known as KYC) process. The KYC is designed to provide governing agencies and authorities with information pertaining to crypto ownerships.
• But no governments can have information on Peer-to-Peer (also known as P2P) transactions unless the government in question launch a full scale Federal Investigation on certain suspected individuals seeking Wallet Developers to unveil the ownership of certain wallet addresses. Do not forget, National and Global Security trumps Privacy Act. Refusal to co-operate under the pretext of Global or National Security will only result in an out-right ban, which is exactly what happened to Blackberry.
• Questions to Governments – What if Wallet Developers or Crypto Exchanges shuts down which can happen for various reasons be it foul-play, sinister or forcefully under threat? What if servers are damaged and ruined? An EMP strike or a simple magnet can make it happen. Information/identities of suspected customers of such addresses shall be lost forever and along with it the Money Trial.
• The most probable way of evading Authorities with crypto assets are developing an e-wallet for own illicit purpose. Since the cost of developing an e-wallet is relatively low in considerable cost to hiding, what can governments do to flush out these ants from the vast networks of tunnels?
• With Serialized Coded Crypto Assets, it doesn’t matter if servers of Exchanges or Wallets are destroyed. The Serial Codes of each token/coin enables governments of every participating country to track both origin and destination by identifying records of each token/coin in wallet address. It can disappear into a cold wallet but emerging some place later yet Authorities can still detail which particular token/coin has at one moment of time been into which wallet, on what day and date.
• If the battle of financial crimes can be resolved with a simple Serialize Coded Crypto Asset, the eradication of corruptions, money laundering, unlawful proceeds and terrorism financing will be made possible. Criminals can no longer exploit the genius creation of Sathoshi – Blockchain and Crypto-Currencies.
• Global Security, Anti-Terrorism Financing and Money Laundering could just be excuses granting government agencies the need to have access to financial information in the Monetary System. Nonetheless, it is in the interest of every nation that capital outflow is controlled. Capital Outflow is most frequent when the economy of a country is deteriorating. In the face of an economy meltdown, monetary flow is most needed and yet citizens tend to transfer monies further away illegally from their own country in an act of selfishness. This would not be tolerated by any country. Serial Coded Coin shall prove this attempt futile.
• In most part of Asian Countries, many crypto-currency mining operations are carried out illegally. The legality sits on thin fine line where Authorities can pin only stealing of electricity as a major concern to the respective country. Since most Power Companies belongs to the Country in one way or another, it is financially damaging to Power Producers and Utility Suppliers. Serial Codes can determine if the KRATSCOIN is mined legally or illegally making it difficult for miners or mining farms to mine crypto while avoiding making electricity payments. Will this deterrent disrupt the chain of KRATSCOIN supply? That’s not how Blockchain Tech works. TAXATIONS - WHAT IT MEANS FOR PUBLIC AND GOVERNMENTS: • Taxation cannot be imposed on “Illegal & Unlawful Proceeds” instead confiscation is enforced in many countries. Origins or proceeds of Serialized Coded Crypto Assets can be easily identified by the Serial Codes in-conjunction with the Blockchain. This exercise can evidently proof the legitimacy of the aforesaid token/coin. By “Illegal & Unlawful Proceeds” also refers to crypto coins obtained via illegal mining operations.
• Taxation on Crypto Assets are calculated on profits deriving from the sale/disposal of the crypto Assets. If we are small crypto believers, the amount of taxation rendered by Inland Revenue will be insignificant. Why risk Freedom of Life over Freedom of Small Monies. If we are big crypto believers, taxation on Serialized Coded Coins can be considered added security to your assets protection.
• By adopting Serialized Crypto Assets, declaration is made easily possible via proof of token/coin origin via the Blockchain. If the Authorities can know where our crypto assets come from, the Authorities will know where it will disappear to. It is taxation cum insurance in one tiny sum. This added security with freedom feature will encourage self-declarations of crypto assets to Authorities and Agencies. PRIVACY & ANONIMITY: • Many may be skeptical of their wealth being tracked and monitored. But in this era of technological advance society, everything we touches has our signature. Banks, iPhones, Samsung Mobiles, Google, Facebook, Whatsapp, WeChat, LINE, Viber, Facebook, Properties, Utilities. Almost everything. It is to this fact that there is a need for Privacy Protection Act.
• As explained before, Crypto Currency Exchange KYC procedures is designed to expose the identity of Crypto Assets ownership. The Blockchain is supposed to serve as a transparent information platform. The question of privacy over Serialized Coded Coins does not exist, it does not make Serialized Coded Coins ownership any less private.
• Ownership of wallet addresses shall always remain anonymous while the only way Authorities can get to it is through Wallet Developers by virtue of Global/National Security Threats or by a Court Order as per the Privacy Protection Act. SAFETY & SECURITY (CODED CRYPTO VS FIAT + COMMODITIES): • No human mind can memorize the millions of serial numbers printed on fiat currencies. The records of Serialized Coded Coins will forever be in the Blockchain embedded within each transaction from wallet to wallet.
• Serialized Commodities such as gold can be melted down. Diamonds recrafted. Fiat double printed. But not Serialized Coded Crypto Assets.
• Should an accessory system be added into the KRATSCOIN Blockchain, allowing reports on criminal activity be made within the Blockchain, notifying all ledgers of certain stolen Serial Coded Coins, enabling WARNINGS and forbidding next transaction of that particular Serial Coded Coin, wouldn’t this function enhance protection. A theft deterrent function which can never be achieved with physical gold, diamonds or fiat. KRATSCOIN SUMMARY: • Most crypto currencies have not reach a level of security alert for governments. This could be the only reason why a possible ban has not been discussed. China and India has begun efforts to control or ban crypto currencies in their quest to combat capital outflow, writer’s personal opinion. The EU has stopped Libra from implementation. “A company cannot be allowed Authoring Power for issuance of currencies” quoted the governments. KRATSCOIN is fully decentralized with no ownership nor control by any country, company or individual. Once again, the beauty of Bitcoin decentralization concept prevails.
• “There is no such thing as a world currency. However, since World War II, the dominant or reserve currency of the world has been the U.S. dollar” quoted in google.com.
• Most countries have “Foreign Reserves” as backing to a country’s fiat currency. It is a mean of “back up” attempt should all factors above mentioned leading to the value of their currencies collapse. Then what will happen if the Country of the Foreign Reserves collapse?
• Serial Coded KRATSCOIN belongs to no one, no country, no company and therefore theoretically shall not be effected by politics, war or global economy meltdown yet everyone, every country and every government is able to benefit from KRATSCOIN.
"Quoted by" https://lintangnews.com/ada-kratscoin-ini-bedanya-dengan-bitcoin/ https://0xzx.com/201910111244312902.html https://news.tokocrypto.com/tag/kratscoin-ktc/ http://bbs.tianya.cn/post-lookout-836105-1.shtml https://zhuanlan.zhihu.com/p/84844615
submitted by xia112 to Bitcoin [link] [comments]

DIFFERENCE BETWEEN FIAT AND CRYPTO

• Fiat Currency is backed by Governments/Countries itself. What determines the value of a currency is the economic health, demand, growth, political stability to name a few, of the respective country. Before 1930, most fiat currencies were backed by gold and silver.
• Since 1971, U.S. citizens have been able to utilize Federal Reserve Notes as the only form of money that for the first time had no currency with any gold or silver backing. This is where you get the saying that U.S. dollars are backed by the “full faith and credit” of the U.S. Government - quoted in google.com.
• What backs crypto value is purely supply and demand. The demand creation of a crypto is its sole objective. To create demand, the crypto has to have a purpose. And most purpose commonly promoted is utility. The number of ways you can utilize the said crypto. The more utilization factors the more demand there is for it.
• There are other ways to substantiate value of a crypto and that is to back the crypto with a 1 to 1 ratio in assets or in USD. Then the question is, how 3,000 crypto currencies in circulation be monetary eco sustainable? Can anyone imagine walking into McDonald and view a chart of 3,000 different pricing? Which also means the crypto is a payment gateway pegging against USD instead of bearing any true characteristic of a currency.
• A country’s currency is in its own legit form of legal tender, the only currency acceptable under financial sovereigns of a country. People in the world must be made to understand that. Retailers in Thailand cannot put up products price tags in EUROS/USD, it is illegal. It has to be in Thai Baht.
• It is hardly imaginable for everyone in the world to retail with a Crypto-Currencies at a rate of 7 transactions per second. When mining nodes are reduced due to non-performing mining ratio, mining blocks in the Blockchain will significantly be limited too, rendering delays in transactions while usage increases.
• In time to come, as trends of crypto picks up, Thailand can issue BAHT COIN or UK the STERLING COIN, exactly what China wishes to do. Digital RMB, but would such crypto currencies be fully decentralized? We all have our answers. Absurd to even think of producing Thai Baht, Pound Sterling or Chinese Yuan at the cost of electricity. It is currencies in digital forms.
KRATSCOIN is not meant for that purpose. In some opinion, apart from utilization, a crypto can be for safekeeping, an entity for keeping money while allowing easy liquidation, at a click of a mobile button, not to mention sending or transferring without the trouble of going to banks, which was the original purpose of Bitcoin to begin with. Therefore, KRATSCOIN would be better termed as Crypto Commodity, sharing similarities as Metal Commodities.
An individual cannot use gold to make a purchase, neither can one eat gold. It can only be kept or invest in for appreciative value over time. Gold is being exampled for its scarcity which reasons for its higher value over its cousin, silver or bronze. Who or what determines the value of gold? Just like any other crypto, demand by humanity. As in all other commodities, it must also be placed in checks by governments. To put in checks, serial numbers are introduced to protect a country’s commodities outflows or illegal exports.
Humanity made Bitcoin a reality. Acceptance by the majority members of the public made Bitcoin to what is it today with the trust they entrusted it with, or is the majority public hopping on the band wagon to make a few quick extra bucks? Whatever the reasons are, the characteristics of Crypto Currencies are only matched by the behavior of Commodities.
SERIALIZED COINS - WHAT IT MEANS FOR THE PUBLIC: Every currency has its own remarkable name, design and colors. Dollars, Euros, Pound, Tugrik, Peso, Rupee, Rupiah, Dina, Ringgit, Baht and the list carries on. One thing every currency have in common - Serial Numbers.
In any crime, investigators will firstly establish motives and mode of operation, both of which are very likely related to money. So following the money trial is a natural thing to do for investigators/authorities and it has become a common practice. Crimes require funding ie robbers need money to buy guns to carry out its robbing activities. Cutting off financing will reduce criminal activities. That’s the approach governments of the WORLD have adopted for crime fighting.
Perhaps people do not realize this while most do not feel the pinch. Humanity tends to take life for granted until apocalypse happens. Take a minute to visualize the tallest tower in your homeland collapse into a pile of dust with thousands of casualties effecting everything else that comes to mind. Imagine a family member, just 1 is enough, is among those casualties.
• Imagine if monetary system is not in place and drug dealers, among many, roam the earth freely distributing what can be death threatening substance to your kids. What if you are mugged of your inheritance [items left to you by your father] that is beyond retrieval? As for crypto enthusiast, what if your wallet gets hacked as even the mighty Pentagon gets hacked. All the above can go away if the crypto system leaves a trail for hound dogs to sniff out. Money Trail or Serial Codes Trail to be exact.
• Citizens rely on governments and their countries to do what is best for them to lead their daily lives, flourish, advance, improve and strive but at the same time, citizens want to take away the single most important thing deemed crucial in the hierarchy of humanity from governments with additional boastful remarks such as “I transferred $400 million from one corner of the earth to another corner in a single transaction and no governments can do anything about it”.
• In-short, to boast unregulated financial movement is to arrogantly promote crime without realizing it while challenging the world’s monetary authority. Oldest advice in the book teaches us never to pick a fight we can’t win.
• Serial Coded Coins does not take away the financial movement freedom nor does it take away your privacy. It merely provides Authorities the necessary means needed for crime prevention and fighting. It only re-inforce security and safety. SERIALIZED COINS - WHAT IT MEANS FOR GOVERNMENTS: • Governments are relentlessly trying to find new ways to keep track of crypto transactions. Crypto Currency Exchanges, just like all other Financial Institutions and Banks, are required to practice the most stringent Know Your Customer (widely known as KYC) process. The KYC is designed to provide governing agencies and authorities with information pertaining to crypto ownerships.
• But no governments can have information on Peer-to-Peer (also known as P2P) transactions unless the government in question launch a full scale Federal Investigation on certain suspected individuals seeking Wallet Developers to unveil the ownership of certain wallet addresses. Do not forget, National and Global Security trumps Privacy Act. Refusal to co-operate under the pretext of Global or National Security will only result in an out-right ban, which is exactly what happened to Blackberry.
• Questions to Governments – What if Wallet Developers or Crypto Exchanges shuts down which can happen for various reasons be it foul-play, sinister or forcefully under threat? What if servers are damaged and ruined? An EMP strike or a simple magnet can make it happen. Information/identities of suspected customers of such addresses shall be lost forever and along with it the Money Trial.
• The most probable way of evading Authorities with crypto assets are developing an e-wallet for own illicit purpose. Since the cost of developing an e-wallet is relatively low in considerable cost to hiding, what can governments do to flush out these ants from the vast networks of tunnels?
• With Serialized Coded Crypto Assets, it doesn’t matter if servers of Exchanges or Wallets are destroyed. The Serial Codes of each token/coin enables governments of every participating country to track both origin and destination by identifying records of each token/coin in wallet address. It can disappear into a cold wallet but emerging some place later yet Authorities can still detail which particular token/coin has at one moment of time been into which wallet, on what day and date.
• If the battle of financial crimes can be resolved with a simple Serialize Coded Crypto Asset, the eradication of corruptions, money laundering, unlawful proceeds and terrorism financing will be made possible. Criminals can no longer exploit the genius creation of Sathoshi – Blockchain and Crypto-Currencies.
• Global Security, Anti-Terrorism Financing and Money Laundering could just be excuses granting government agencies the need to have access to financial information in the Monetary System. Nonetheless, it is in the interest of every nation that capital outflow is controlled. Capital Outflow is most frequent when the economy of a country is deteriorating. In the face of an economy meltdown, monetary flow is most needed and yet citizens tend to transfer monies further away illegally from their own country in an act of selfishness. This would not be tolerated by any country. Serial Coded Coin shall prove this attempt futile.
• In most part of Asian Countries, many crypto-currency mining operations are carried out illegally. The legality sits on thin fine line where Authorities can pin only stealing of electricity as a major concern to the respective country. Since most Power Companies belongs to the Country in one way or another, it is financially damaging to Power Producers and Utility Suppliers. Serial Codes can determine if the KRATSCOIN is mined legally or illegally making it difficult for miners or mining farms to mine crypto while avoiding making electricity payments. Will this deterrent disrupt the chain of KRATSCOIN supply? That’s not how Blockchain Tech works. TAXATIONS - WHAT IT MEANS FOR PUBLIC AND GOVERNMENTS: • Taxation cannot be imposed on “Illegal & Unlawful Proceeds” instead confiscation is enforced in many countries. Origins or proceeds of Serialized Coded Crypto Assets can be easily identified by the Serial Codes in-conjunction with the Blockchain. This exercise can evidently proof the legitimacy of the aforesaid token/coin. By “Illegal & Unlawful Proceeds” also refers to crypto coins obtained via illegal mining operations.
• Taxation on Crypto Assets are calculated on profits deriving from the sale/disposal of the crypto Assets. If we are small crypto believers, the amount of taxation rendered by Inland Revenue will be insignificant. Why risk Freedom of Life over Freedom of Small Monies. If we are big crypto believers, taxation on Serialized Coded Coins can be considered added security to your assets protection.
• By adopting Serialized Crypto Assets, declaration is made easily possible via proof of token/coin origin via the Blockchain. If the Authorities can know where our crypto assets come from, the Authorities will know where it will disappear to. It is taxation cum insurance in one tiny sum. This added security with freedom feature will encourage self-declarations of crypto assets to Authorities and Agencies. PRIVACY & ANONIMITY: • Many may be skeptical of their wealth being tracked and monitored. But in this era of technological advance society, everything we touches has our signature. Banks, iPhones, Samsung Mobiles, Google, Facebook, Whatsapp, WeChat, LINE, Viber, Facebook, Properties, Utilities. Almost everything. It is to this fact that there is a need for Privacy Protection Act.
• As explained before, Crypto Currency Exchange KYC procedures is designed to expose the identity of Crypto Assets ownership. The Blockchain is supposed to serve as a transparent information platform. The question of privacy over Serialized Coded Coins does not exist, it does not make Serialized Coded Coins ownership any less private.
• Ownership of wallet addresses shall always remain anonymous while the only way Authorities can get to it is through Wallet Developers by virtue of Global/National Security Threats or by a Court Order as per the Privacy Protection Act. SAFETY & SECURITY (CODED CRYPTO VS FIAT + COMMODITIES): • No human mind can memorize the millions of serial numbers printed on fiat currencies. The records of Serialized Coded Coins will forever be in the Blockchain embedded within each transaction from wallet to wallet.
• Serialized Commodities such as gold can be melted down. Diamonds recrafted. Fiat double printed. But not Serialized Coded Crypto Assets.
• Should an accessory system be added into the KRATSCOIN Blockchain, allowing reports on criminal activity be made within the Blockchain, notifying all ledgers of certain stolen Serial Coded Coins, enabling WARNINGS and forbidding next transaction of that particular Serial Coded Coin, wouldn’t this function enhance protection. A theft deterrent function which can never be achieved with physical gold, diamonds or fiat. KRATSCOIN SUMMARY: • Most crypto currencies have not reach a level of security alert for governments. This could be the only reason why a possible ban has not been discussed. China and India has begun efforts to control or ban crypto currencies in their quest to combat capital outflow, writer’s personal opinion. The EU has stopped Libra from implementation. “A company cannot be allowed Authoring Power for issuance of currencies” quoted the governments. KRATSCOIN is fully decentralized with no ownership nor control by any country, company or individual. Once again, the beauty of Bitcoin decentralization concept prevails.
• “There is no such thing as a world currency. However, since World War II, the dominant or reserve currency of the world has been the U.S. dollar” quoted in google.com.
• Most countries have “Foreign Reserves” as backing to a country’s fiat currency. It is a mean of “back up” attempt should all factors above mentioned leading to the value of their currencies collapse. Then what will happen if the Country of the Foreign Reserves collapse?
• Serial Coded KRATSCOIN belongs to no one, no country, no company and therefore theoretically shall not be effected by politics, war or global economy meltdown yet everyone, every country and every government is able to benefit from KRATSCOIN.
"Quoted by" https://lintangnews.com/ada-kratscoin-ini-bedanya-dengan-bitcoin/ https://0xzx.com/201910111244312902.html https://news.tokocrypto.com/tag/kratscoin-ktc/ http://bbs.tianya.cn/post-lookout-836105-1.shtml https://zhuanlan.zhihu.com/p/84844615
submitted by xia112 to u/xia112 [link] [comments]

DIFFERENCE BETWEEN FIAT AND CRYPTO

• Fiat Currency is backed by Governments/Countries itself. What determines the value of a currency is the economic health, demand, growth, political stability to name a few, of the respective country. Before 1930, most fiat currencies were backed by gold and silver.
• Since 1971, U.S. citizens have been able to utilize Federal Reserve Notes as the only form of money that for the first time had no currency with any gold or silver backing. This is where you get the saying that U.S. dollars are backed by the “full faith and credit” of the U.S. Government - quoted in google.com.
• What backs crypto value is purely supply and demand. The demand creation of a crypto is its sole objective. To create demand, the crypto has to have a purpose. And most purpose commonly promoted is utility. The number of ways you can utilize the said crypto. The more utilization factors the more demand there is for it.
• There are other ways to substantiate value of a crypto and that is to back the crypto with a 1 to 1 ratio in assets or in USD. Then the question is, how 3,000 crypto currencies in circulation be monetary eco sustainable? Can anyone imagine walking into McDonald and view a chart of 3,000 different pricing? Which also means the crypto is a payment gateway pegging against USD instead of bearing any true characteristic of a currency.
• A country’s currency is in its own legit form of legal tender, the only currency acceptable under financial sovereigns of a country. People in the world must be made to understand that. Retailers in Thailand cannot put up products price tags in EUROS/USD, it is illegal. It has to be in Thai Baht.
• It is hardly imaginable for everyone in the world to retail with a Crypto-Currencies at a rate of 7 transactions per second. When mining nodes are reduced due to non-performing mining ratio, mining blocks in the Blockchain will significantly be limited too, rendering delays in transactions while usage increases.
• In time to come, as trends of crypto picks up, Thailand can issue BAHT COIN or UK the STERLING COIN, exactly what China wishes to do. Digital RMB, but would such crypto currencies be fully decentralized? We all have our answers. Absurd to even think of producing Thai Baht, Pound Sterling or Chinese Yuan at the cost of electricity. It is currencies in digital forms.
KRATSCOIN is not meant for that purpose. In some opinion, apart from utilization, a crypto can be for safekeeping, an entity for keeping money while allowing easy liquidation, at a click of a mobile button, not to mention sending or transferring without the trouble of going to banks, which was the original purpose of Bitcoin to begin with. Therefore, KRATSCOIN would be better termed as Crypto Commodity, sharing similarities as Metal Commodities.
An individual cannot use gold to make a purchase, neither can one eat gold. It can only be kept or invest in for appreciative value over time. Gold is being exampled for its scarcity which reasons for its higher value over its cousin, silver or bronze. Who or what determines the value of gold? Just like any other crypto, demand by humanity. As in all other commodities, it must also be placed in checks by governments. To put in checks, serial numbers are introduced to protect a country’s commodities outflows or illegal exports.
Humanity made Bitcoin a reality. Acceptance by the majority members of the public made Bitcoin to what is it today with the trust they entrusted it with, or is the majority public hopping on the band wagon to make a few quick extra bucks? Whatever the reasons are, the characteristics of Crypto Currencies are only matched by the behavior of Commodities.
SERIALIZED COINS - WHAT IT MEANS FOR THE PUBLIC: Every currency has its own remarkable name, design and colors. Dollars, Euros, Pound, Tugrik, Peso, Rupee, Rupiah, Dina, Ringgit, Baht and the list carries on. One thing every currency have in common - Serial Numbers.
In any crime, investigators will firstly establish motives and mode of operation, both of which are very likely related to money. So following the money trial is a natural thing to do for investigators/authorities and it has become a common practice. Crimes require funding ie robbers need money to buy guns to carry out its robbing activities. Cutting off financing will reduce criminal activities. That’s the approach governments of the WORLD have adopted for crime fighting.
Perhaps people do not realize this while most do not feel the pinch. Humanity tends to take life for granted until apocalypse happens. Take a minute to visualize the tallest tower in your homeland collapse into a pile of dust with thousands of casualties effecting everything else that comes to mind. Imagine a family member, just 1 is enough, is among those casualties.
• Imagine if monetary system is not in place and drug dealers, among many, roam the earth freely distributing what can be death threatening substance to your kids. What if you are mugged of your inheritance [items left to you by your father] that is beyond retrieval? As for crypto enthusiast, what if your wallet gets hacked as even the mighty Pentagon gets hacked. All the above can go away if the crypto system leaves a trail for hound dogs to sniff out. Money Trail or Serial Codes Trail to be exact.
• Citizens rely on governments and their countries to do what is best for them to lead their daily lives, flourish, advance, improve and strive but at the same time, citizens want to take away the single most important thing deemed crucial in the hierarchy of humanity from governments with additional boastful remarks such as “I transferred $400 million from one corner of the earth to another corner in a single transaction and no governments can do anything about it”.
• In-short, to boast unregulated financial movement is to arrogantly promote crime without realizing it while challenging the world’s monetary authority. Oldest advice in the book teaches us never to pick a fight we can’t win.
• Serial Coded Coins does not take away the financial movement freedom nor does it take away your privacy. It merely provides Authorities the necessary means needed for crime prevention and fighting. It only re-inforce security and safety. SERIALIZED COINS - WHAT IT MEANS FOR GOVERNMENTS: • Governments are relentlessly trying to find new ways to keep track of crypto transactions. Crypto Currency Exchanges, just like all other Financial Institutions and Banks, are required to practice the most stringent Know Your Customer (widely known as KYC) process. The KYC is designed to provide governing agencies and authorities with information pertaining to crypto ownerships.
• But no governments can have information on Peer-to-Peer (also known as P2P) transactions unless the government in question launch a full scale Federal Investigation on certain suspected individuals seeking Wallet Developers to unveil the ownership of certain wallet addresses. Do not forget, National and Global Security trumps Privacy Act. Refusal to co-operate under the pretext of Global or National Security will only result in an out-right ban, which is exactly what happened to Blackberry.
• Questions to Governments – What if Wallet Developers or Crypto Exchanges shuts down which can happen for various reasons be it foul-play, sinister or forcefully under threat? What if servers are damaged and ruined? An EMP strike or a simple magnet can make it happen. Information/identities of suspected customers of such addresses shall be lost forever and along with it the Money Trial.
• The most probable way of evading Authorities with crypto assets are developing an e-wallet for own illicit purpose. Since the cost of developing an e-wallet is relatively low in considerable cost to hiding, what can governments do to flush out these ants from the vast networks of tunnels?
• With Serialized Coded Crypto Assets, it doesn’t matter if servers of Exchanges or Wallets are destroyed. The Serial Codes of each token/coin enables governments of every participating country to track both origin and destination by identifying records of each token/coin in wallet address. It can disappear into a cold wallet but emerging some place later yet Authorities can still detail which particular token/coin has at one moment of time been into which wallet, on what day and date.
• If the battle of financial crimes can be resolved with a simple Serialize Coded Crypto Asset, the eradication of corruptions, money laundering, unlawful proceeds and terrorism financing will be made possible. Criminals can no longer exploit the genius creation of Sathoshi – Blockchain and Crypto-Currencies.
• Global Security, Anti-Terrorism Financing and Money Laundering could just be excuses granting government agencies the need to have access to financial information in the Monetary System. Nonetheless, it is in the interest of every nation that capital outflow is controlled. Capital Outflow is most frequent when the economy of a country is deteriorating. In the face of an economy meltdown, monetary flow is most needed and yet citizens tend to transfer monies further away illegally from their own country in an act of selfishness. This would not be tolerated by any country. Serial Coded Coin shall prove this attempt futile.
• In most part of Asian Countries, many crypto-currency mining operations are carried out illegally. The legality sits on thin fine line where Authorities can pin only stealing of electricity as a major concern to the respective country. Since most Power Companies belongs to the Country in one way or another, it is financially damaging to Power Producers and Utility Suppliers. Serial Codes can determine if the KRATSCOIN is mined legally or illegally making it difficult for miners or mining farms to mine crypto while avoiding making electricity payments. Will this deterrent disrupt the chain of KRATSCOIN supply? That’s not how Blockchain Tech works. TAXATIONS - WHAT IT MEANS FOR PUBLIC AND GOVERNMENTS: • Taxation cannot be imposed on “Illegal & Unlawful Proceeds” instead confiscation is enforced in many countries. Origins or proceeds of Serialized Coded Crypto Assets can be easily identified by the Serial Codes in-conjunction with the Blockchain. This exercise can evidently proof the legitimacy of the aforesaid token/coin. By “Illegal & Unlawful Proceeds” also refers to crypto coins obtained via illegal mining operations.
• Taxation on Crypto Assets are calculated on profits deriving from the sale/disposal of the crypto Assets. If we are small crypto believers, the amount of taxation rendered by Inland Revenue will be insignificant. Why risk Freedom of Life over Freedom of Small Monies. If we are big crypto believers, taxation on Serialized Coded Coins can be considered added security to your assets protection.
• By adopting Serialized Crypto Assets, declaration is made easily possible via proof of token/coin origin via the Blockchain. If the Authorities can know where our crypto assets come from, the Authorities will know where it will disappear to. It is taxation cum insurance in one tiny sum. This added security with freedom feature will encourage self-declarations of crypto assets to Authorities and Agencies. PRIVACY & ANONIMITY: • Many may be skeptical of their wealth being tracked and monitored. But in this era of technological advance society, everything we touches has our signature. Banks, iPhones, Samsung Mobiles, Google, Facebook, Whatsapp, WeChat, LINE, Viber, Facebook, Properties, Utilities. Almost everything. It is to this fact that there is a need for Privacy Protection Act.
• As explained before, Crypto Currency Exchange KYC procedures is designed to expose the identity of Crypto Assets ownership. The Blockchain is supposed to serve as a transparent information platform. The question of privacy over Serialized Coded Coins does not exist, it does not make Serialized Coded Coins ownership any less private.
• Ownership of wallet addresses shall always remain anonymous while the only way Authorities can get to it is through Wallet Developers by virtue of Global/National Security Threats or by a Court Order as per the Privacy Protection Act. SAFETY & SECURITY (CODED CRYPTO VS FIAT + COMMODITIES): • No human mind can memorize the millions of serial numbers printed on fiat currencies. The records of Serialized Coded Coins will forever be in the Blockchain embedded within each transaction from wallet to wallet.
• Serialized Commodities such as gold can be melted down. Diamonds recrafted. Fiat double printed. But not Serialized Coded Crypto Assets.
• Should an accessory system be added into the KRATSCOIN Blockchain, allowing reports on criminal activity be made within the Blockchain, notifying all ledgers of certain stolen Serial Coded Coins, enabling WARNINGS and forbidding next transaction of that particular Serial Coded Coin, wouldn’t this function enhance protection. A theft deterrent function which can never be achieved with physical gold, diamonds or fiat. KRATSCOIN SUMMARY: • Most crypto currencies have not reach a level of security alert for governments. This could be the only reason why a possible ban has not been discussed. China and India has begun efforts to control or ban crypto currencies in their quest to combat capital outflow, writer’s personal opinion. The EU has stopped Libra from implementation. “A company cannot be allowed Authoring Power for issuance of currencies” quoted the governments. KRATSCOIN is fully decentralized with no ownership nor control by any country, company or individual. Once again, the beauty of Bitcoin decentralization concept prevails.
• “There is no such thing as a world currency. However, since World War II, the dominant or reserve currency of the world has been the U.S. dollar” quoted in google.com.
• Most countries have “Foreign Reserves” as backing to a country’s fiat currency. It is a mean of “back up” attempt should all factors above mentioned leading to the value of their currencies collapse. Then what will happen if the Country of the Foreign Reserves collapse?
• Serial Coded KRATSCOIN belongs to no one, no country, no company and therefore theoretically shall not be effected by politics, war or global economy meltdown yet everyone, every country and every government is able to benefit from KRATSCOIN.
"Quoted by" https://lintangnews.com/ada-kratscoin-ini-bedanya-dengan-bitcoin/ https://0xzx.com/201910111244312902.html https://news.tokocrypto.com/tag/kratscoin-ktc/ http://bbs.tianya.cn/post-lookout-836105-1.shtml https://zhuanlan.zhihu.com/p/84844615
submitted by xia112 to btc [link] [comments]

11-04 14:33 - 'DIFFERENCE BETWEEN KRATSCOIN AND BITCOIN' (self.Bitcoin) by /u/xia112 removed from /r/Bitcoin within 3-13min

'''
• The indivisible minimum KRATSCOIN unit is 0.00001 instead of 0.00000001 to denominate realistic currency rates in FOREX. Denomination cannot be determined or dictated by the value of a currency. If KRATSCOIN is valued at USD10,000.00 then the smallest unit of KRATSCOIN at 0.00001 = USD0.10 and nothing smaller than USD0.10 in KRATSCOIN.
Example: If USD1.00 = THB30.00 and the smallest denomination of USD is USD0.10, then a USD0.10 which is THB3.00, is unable to buy a piece of candy at THB1.00. Thus the USD must be converted into a smaller currency of THB in order to buy the THB1.00 candy.
• KRATSCOIN is in-line with standard International Foreign Currency Exchange Practice at indivisible minimum unit 0.00001.
• Each KRATSCOIN is equipped with a 13 digit “SERIAL CODES AND NUMBERS” and there will be a total of 2,100,000,000,000 SERIAL CODES in total.
Example1: 1st KRATSCOIN = AKDJFYRS.00000 Example2: 1st Fraction from 1st KRATSCOIN = AKDJFYRS.00001 Example3: 2nd Fraction from 2nd KRATSCOIN = AKDJFYRS.00002 Example4: Last KRATSCOIN = DLXVZKWR.00000 Example5: 1st Fraction from Last KRATSCOIN = DLXVZKWR.00001 Example6: 2nd Fraction from Last KRATSCOIN = DLXVZKWR.00002
• In Year 2015, Silk Road in DeepWeb utilization of Bitcoin in their transactions amounts to USD1.2billion spanning over 950,000 users. One may argue that Bitcoin is most utilized by the black market, which then maintains its value and worth among other factors. However, the USD1.2bil a year over 950,000 users are far fetch from the Legitimate Users in comparison. Bitcoin transactions runs into USD40.0bil in recent Legitimate Crypto Exchanges. In summary, legitimate transaction of crypto currencies is many times larger use in illegal transactions.
DIFFERENCE BETWEEN FIAT AND CRYPTO:
• Fiat Currency is backed by Governments/Countries itself. What determines the value of a currency is the economic health, demand, growth, political stability to name a few, of the respective country. Before 1930, most fiat currencies were backed by gold and silver.
• Since 1971, U.S. citizens have been able to utilize Federal Reserve Notes as the only form of money that for the first time had no currency with any gold or silver backing. This is where you get the saying that U.S. dollars are backed by the “full faith and credit” of the U.S. Government - quoted in google.com.
• What backs crypto value is purely supply and demand. The demand creation of a crypto is its sole objective. To create demand, the crypto has to have a purpose. And most purpose commonly promoted is utility. The number of ways you can utilize the said crypto. The more utilization factors the more demand there is for it.
• There are other ways to substantiate value of a crypto and that is to back the crypto with a 1 to 1 ratio in assets or in USD. Then the question is, how 3,000 crypto currencies in circulation be monetary eco sustainable? Can anyone imagine walking into McDonald and view a chart of 3,000 different pricing? Which also means the crypto is a payment gateway pegging against USD instead of bearing any true characteristic of a currency.
• A country’s currency is in its own legit form of legal tender, the only currency acceptable under financial sovereigns of a country. People in the world must be made to understand that. Retailers in Thailand cannot put up products price tags in EUROS/USD, it is illegal. It has to be in Thai Baht.
• It is hardly imaginable for everyone in the world to retail with a Crypto-Currencies at a rate of 7 transactions per second. When mining nodes are reduced due to non-performing mining ratio, mining blocks in the Blockchain will significantly be limited too, rendering delays in transactions while usage increases.
• In time to come, as trends of crypto picks up, Thailand can issue BAHT COIN or UK the STERLING COIN, exactly what China wishes to do. Digital RMB, but would such crypto currencies be fully decentralized? We all have our answers. Absurd to even think of producing Thai Baht, Pound Sterling or Chinese Yuan at the cost of electricity. It is currencies in digital forms.
KRATSCOIN is not meant for that purpose. In some opinion, apart from utilization, a crypto can be for safekeeping, an entity for keeping money while allowing easy liquidation, at a click of a mobile button, not to mention sending or transferring without the trouble of going to banks, which was the original purpose of Bitcoin to begin with. Therefore, KRATSCOIN would be better termed as Crypto Commodity, sharing similarities as Metal Commodities.
An individual cannot use gold to make a purchase, neither can one eat gold. It can only be kept or invest in for appreciative value over time. Gold is being exampled for its scarcity which reasons for its higher value over its cousin, silver or bronze. Who or what determines the value of gold? Just like any other crypto, demand by humanity. As in all other commodities, it must also be placed in checks by governments. To put in checks, serial numbers are introduced to protect a country’s commodities outflows or illegal exports.
Humanity made Bitcoin a reality. Acceptance by the majority members of the public made Bitcoin to what is it today with the trust they entrusted it with, or is the majority public hopping on the band wagon to make a few quick extra bucks? Whatever the reasons are, the characteristics of Crypto Currencies are only matched by the behavior of Commodities.
SERIALIZED COINS - WHAT IT MEANS FOR THE PUBLIC: Every currency has its own remarkable name, design and colors. Dollars, Euros, Pound, Tugrik, Peso, Rupee, Rupiah, Dina, Ringgit, Baht and the list carries on. One thing every currency have in common - Serial Numbers.
In any crime, investigators will firstly establish motives and mode of operation, both of which are very likely related to money. So following the money trial is a natural thing to do for investigators/authorities and it has become a common practice. Crimes require funding ie robbers need money to buy guns to carry out its robbing activities. Cutting off financing will reduce criminal activities. That’s the approach governments of the WORLD have adopted for crime fighting.
Perhaps people do not realize this while most do not feel the pinch. Humanity tends to take life for granted until apocalypse happens. Take a minute to visualize the tallest tower in your homeland collapse into a pile of dust with thousands of casualties effecting everything else that comes to mind. Imagine a family member, just 1 is enough, is among those casualties.
• Imagine if monetary system is not in place and drug dealers, among many, roam the earth freely distributing what can be death threatening substance to your kids. What if you are mugged of your inheritance [items left to you by your father] that is beyond retrieval? As for crypto enthusiast, what if your wallet gets hacked as even the mighty Pentagon gets hacked. All the above can go away if the crypto system leaves a trail for hound dogs to sniff out. Money Trail or Serial Codes Trail to be exact.
• Citizens rely on governments and their countries to do what is best for them to lead their daily lives, flourish, advance, improve and strive but at the same time, citizens want to take away the single most important thing deemed crucial in the hierarchy of humanity from governments with additional boastful remarks such as “I transferred $400 million from one corner of the earth to another corner in a single transaction and no governments can do anything about it”.
• In-short, to boast unregulated financial movement is to arrogantly promote crime without realizing it while challenging the world’s monetary authority. Oldest advice in the book teaches us never to pick a fight we can’t win.
• Serial Coded Coins does not take away the financial movement freedom nor does it take away your privacy. It merely provides Authorities the necessary means needed for crime prevention and fighting. It only re-inforce security and safety. SERIALIZED COINS - WHAT IT MEANS FOR GOVERNMENTS: • Governments are relentlessly trying to find new ways to keep track of crypto transactions. Crypto Currency Exchanges, just like all other Financial Institutions and Banks, are required to practice the most stringent Know Your Customer (widely known as KYC) process. The KYC is designed to provide governing agencies and authorities with information pertaining to crypto ownerships.
• But no governments can have information on Peer-to-Peer (also known as P2P) transactions unless the government in question launch a full scale Federal Investigation on certain suspected individuals seeking Wallet Developers to unveil the ownership of certain wallet addresses. Do not forget, National and Global Security trumps Privacy Act. Refusal to co-operate under the pretext of Global or National Security will only result in an out-right ban, which is exactly what happened to Blackberry.
• Questions to Governments – What if Wallet Developers or Crypto Exchanges shuts down which can happen for various reasons be it foul-play, sinister or forcefully under threat? What if servers are damaged and ruined? An EMP strike or a simple magnet can make it happen. Information/identities of suspected customers of such addresses shall be lost forever and along with it the Money Trial.
• The most probable way of evading Authorities with crypto assets are developing an e-wallet for own illicit purpose. Since the cost of developing an e-wallet is relatively low in considerable cost to hiding, what can governments do to flush out these ants from the vast networks of tunnels?
• With Serialized Coded Crypto Assets, it doesn’t matter if servers of Exchanges or Wallets are destroyed. The Serial Codes of each token/coin enables governments of every participating country to track both origin and destination by identifying records of each token/coin in wallet address. It can disappear into a cold wallet but emerging some place later yet Authorities can still detail which particular token/coin has at one moment of time been into which wallet, on what day and date.
• If the battle of financial crimes can be resolved with a simple Serialize Coded Crypto Asset, the eradication of corruptions, money laundering, unlawful proceeds and terrorism financing will be made possible. Criminals can no longer exploit the genius creation of Sathoshi – Blockchain and Crypto-Currencies.
• Global Security, Anti-Terrorism Financing and Money Laundering could just be excuses granting government agencies the need to have access to financial information in the Monetary System. Nonetheless, it is in the interest of every nation that capital outflow is controlled. Capital Outflow is most frequent when the economy of a country is deteriorating. In the face of an economy meltdown, monetary flow is most needed and yet citizens tend to transfer monies further away illegally from their own country in an act of selfishness. This would not be tolerated by any country. Serial Coded Coin shall prove this attempt futile.
• In most part of Asian Countries, many crypto-currency mining operations are carried out illegally. The legality sits on thin fine line where Authorities can pin only stealing of electricity as a major concern to the respective country. Since most Power Companies belongs to the Country in one way or another, it is financially damaging to Power Producers and Utility Suppliers. Serial Codes can determine if the KRATSCOIN is mined legally or illegally making it difficult for miners or mining farms to mine crypto while avoiding making electricity payments. Will this deterrent disrupt the chain of KRATSCOIN supply? That’s not how Blockchain Tech works. TAXATIONS - WHAT IT MEANS FOR PUBLIC AND GOVERNMENTS: • Taxation cannot be imposed on “Illegal & Unlawful Proceeds” instead confiscation is enforced in many countries. Origins or proceeds of Serialized Coded Crypto Assets can be easily identified by the Serial Codes in-conjunction with the Blockchain. This exercise can evidently proof the legitimacy of the aforesaid token/coin. By “Illegal & Unlawful Proceeds” also refers to crypto coins obtained via illegal mining operations.
• Taxation on Crypto Assets are calculated on profits deriving from the sale/disposal of the crypto Assets. If we are small crypto believers, the amount of taxation rendered by Inland Revenue will be insignificant. Why risk Freedom of Life over Freedom of Small Monies. If we are big crypto believers, taxation on Serialized Coded Coins can be considered added security to your assets protection.
• By adopting Serialized Crypto Assets, declaration is made easily possible via proof of token/coin origin via the Blockchain. If the Authorities can know where our crypto assets come from, the Authorities will know where it will disappear to. It is taxation cum insurance in one tiny sum. This added security with freedom feature will encourage self-declarations of crypto assets to Authorities and Agencies. PRIVACY & ANONIMITY: • Many may be skeptical of their wealth being tracked and monitored. But in this era of technological advance society, everything we touches has our signature. Banks, iPhones, Samsung Mobiles, Google, Facebook, Whatsapp, WeChat, LINE, Viber, Facebook, Properties, Utilities. Almost everything. It is to this fact that there is a need for Privacy Protection Act.
• As explained before, Crypto Currency Exchange KYC procedures is designed to expose the identity of Crypto Assets ownership. The Blockchain is supposed to serve as a transparent information platform. The question of privacy over Serialized Coded Coins does not exist, it does not make Serialized Coded Coins ownership any less private.
• Ownership of wallet addresses shall always remain anonymous while the only way Authorities can get to it is through Wallet Developers by virtue of Global/National Security Threats or by a Court Order as per the Privacy Protection Act. SAFETY & SECURITY (CODED CRYPTO VS FIAT + COMMODITIES): • No human mind can memorize the millions of serial numbers printed on fiat currencies. The records of Serialized Coded Coins will forever be in the Blockchain embedded within each transaction from wallet to wallet.
• Serialized Commodities such as gold can be melted down. Diamonds recrafted. Fiat double printed. But not Serialized Coded Crypto Assets.
• Should an accessory system be added into the KRATSCOIN Blockchain, allowing reports on criminal activity be made within the Blockchain, notifying all ledgers of certain stolen Serial Coded Coins, enabling WARNINGS and forbidding next transaction of that particular Serial Coded Coin, wouldn’t this function enhance protection. A theft deterrent function which can never be achieved with physical gold, diamonds or fiat. KRATSCOIN SUMMARY: • Most crypto currencies have not reach a level of security alert for governments. This could be the only reason why a possible ban has not been discussed. China and India has begun efforts to control or ban crypto currencies in their quest to combat capital outflow, writer’s personal opinion. The EU has stopped Libra from implementation. “A company cannot be allowed Authoring Power for issuance of currencies” quoted the governments. KRATSCOIN is fully decentralized with no ownership nor control by any country, company or individual. Once again, the beauty of Bitcoin decentralization concept prevails.
• “There is no such thing as a world currency. However, since World War II, the dominant or reserve currency of the world has been the U.S. dollar” quoted in google.com.
• Most countries have “Foreign Reserves” as backing to a country’s fiat currency. It is a mean of “back up” attempt should all factors above mentioned leading to the value of their currencies collapse. Then what will happen if the Country of the Foreign Reserves collapse?
• Serial Coded KRATSCOIN belongs to no one, no country, no company and therefore theoretically shall not be effected by politics, war or global economy meltdown yet everyone, every country and every government is able to benefit from KRATSCOIN.
"Quoted by" [[link]6 [[link]7 [[link]8 [[link]9 [[link]10
'''
DIFFERENCE BETWEEN KRATSCOIN AND BITCOIN
Go1dfish undelete link
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Author: xia112
1: lintangnews.c*m/ada*kr**s*o*n-*ni-be*a*ya-d*ngan-bi***in* 2: 0xzx**o***019101*124431*902.*tml 3: ne*s.*oko**y*to.com/*ag/**atsco*n-kt*/ 4: bbs.**anya.cn/p**t-l*ok*u*-836*0*-*.shtml 5: z*uanlan.z*i*u.*om*p/*4*44615 6: l*nta*g*ews.*o*/ada*kr*ts*o*n-*ni-***a*ya-d*ngan-bitcoin/]^^1 7: 0x*x*com/2019101**24*312*02*ht**]^^2 8: news*t**ocr*p*o***m/tag/kr*tscoin-ktc/]*^3 9: bbs.*i*n*a.cn/p**t-loo*ou*-8*61*5-1.sht*l*^^4 10: zhuanl*n.zh*hu.co*/**84**461*]^^5
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

Bitcoin Is Hedge Against Global Liquidity Crises: Grayscale Study

Grayscale Investments, the cryptocurrency asset manager backed by Digital Currency Group, which acquired CoinDesk in 2016 – has released a report showing what it argues is bitcoin’s potential as a hedge against global liquidity crises.
Overall, the authors suggest bitcoin ought to be considered a strategic position within long-term investment portfolios considering its transparent, immutable and global liquidity. Bitcoin has a distinct set of properties unlike any other asset, the paper says, which allow it to perform well over the course of normal economic cycles as well as market disruptions.
Additionally, noting significant shifts taking place in monetary, fiscal and trade policies around the world, Grayscale alleges politicians and policymakers may find it increasingly difficult to manage their economies – thus insinuating a need for investors to take control of their own finances.
The report examined five recent macroeconomic shocks in which the digital asset outperformed other investments as a store of value. The authors extrapolated from these case studies – including Grexit, Brexit, China’s structural devaluation of the renminbi and two Trump shocks – that bitcoin could be a useful tool in helping investors insulate their portfolios from any potential market failures.
Below are three exegesis of bitcoin’s inherent ability to hedge against liquidity crises.

Bitcoin Gains as Grexit Loomed

In the first case study, ‘Grexit and the 3-week Greek bank shutdown,’ which spanned from April to July 2015, Greece underwent a physical liquidity crisis as default of sovereign debt seemed inevitable.
In a response to financial uncertainty, the Greek government closed state banks and imposed strict capital controls on transactions, beginning on June 28, 2015.
These restrictions remained in place for three weeks, while bailout terms were negotiated with international creditors, which sparked apprehensions about the unchecked power of governments over holders of centralized assets in times of crisis.
Yet, “during the liquidity freeze, bitcoin emerged as one of the only means by which to transfer value in or out of Greece, reinforcing this new asset’s ability to return the power of control to the individual who holds it,” write Grayscale analysts.
Leading up to the resolution to the Grexit crisis on July 13, 2015, bitcoin saw returns of 28 percent versus an average of -1.7 percent for 20 other markets and currencies.

State-led Devaluation

Another case study examined the People’s Bank of China’s structural devaluation of the renminbi, and China’s shift in monetary policy between August 2015 and December 2016.
Amid stock market turbulence and concerns over the health of the world’s second largest economy, the Chinese government lowered the RMB-USD reference rate 1.9 percent, signaling a shift to “market-driven” pricing and an attempt to stimulate export driven growth.
This policy-shift saw RMB’s largest single day drop in over twenty years, as well as a five-month selloff of global risk assets in favor of wealth preservation assets, according to researchers.
Again, Greyscale notes bitcoin fared much better.
“Between the day of the announcement and the trough of the drawdown, Bitcoin largely outperformed the following major markets and currencies, producing a cumulative return of 53.6 percent versus an average return of -10.1 percent.”
Bitcoin was used to hedge against Chinese liquidity risk, caused by local investors sold their assets against a structural currency devaluation.

Brexit, Bitcoin and Risk Management

The shock of the U.K.’s referendum vote to separate from the European Union was followed by a knee-jerk selloff and immediate decline in the pound sterling (GBP) and euro, as the market attempted to digest whether Brexit would portend the disintegration of the European Union.
During the first one-day global selloff, the researchers found, “bitcoin was a top performing asset, boasting a return of 7.1 percent on strong volume, versus an average of -2.1 percent for the rest of the group” of currencies.
Additionally, the researchers find cause to recommend, because the details of the transition plan still being worked out, global investors might consider allocating a portion of their investable assets to bitcoin to hedge against contagion stemming from the Eurozone, the world’s second largest economy.
submitted by VoltzUK to u/VoltzUK [link] [comments]

MXM: Kickstart Your Mining Journey With Ease

MXM: Kickstart Your Mining Journey With Ease

https://preview.redd.it/u0bn8lkgcrw21.png?width=542&format=png&auto=webp&s=8288637297946e82484228100d4985e3bda116db
In the past few months, MXM experienced a sharp spike, drawing attention from the cryptocurrency circles abroad and in China. Many reputable media outlets reported on its growth and explored the factors behind MaxiMine’s excellent market performance. The exponential rise observed was concluded to be due to MXM’s inherent value, and its dynamic and efficient operating systems.

MXM is a digital token issued by the MaxiMine project and is used in the MaxiMine ecosystem. Unlike other digital currencies, users can trade MXM on relevant trading platforms and stake on hashing power to earn mining rewards. This business model greatly reduces the barriers to entry in the mining industry as users do not need to be concerned with technical aspects such as the mining power or mine operations, etc. Instead, with the MXM token, they avoid bearing the risk that comes with owning a mining operation while reaping the rewards through their mining.
For individual investors, setting up a mining operation is risky and difficult as it requires a wealth of technological knowledge and great financial backing. Therefore, MaxiMine has launched a blockchain-based mining pool that integrates the decentralised nature of blockchain technology with the advantages of a mining cloud pool, creating an open, fair and transparent cryptocurrency mine. The use of the MXM token easily dispels any apprehension faced by individual investors that bars them from participating in the crypto mining industry.

That being said, how do MXM tokens exchange for hashing power? Let’s illustrate it with a case study. For instance, User A purchases 10,000 MXM tokens when MXM’s real-time market price is at 1 RMB and the price of the mining machine is valued at 10,000 RMB. The 10,000 MXM tokens purchased by User A is equivalent to a six-months mortgage of the mining machine, meaning that any rewards mined by the machine during the stipulated period of six months will go to User A’s wallet. Isn’t that great? Users are also absolved from the maintenance, operations, electricity cost of the mining machine and are freed to trade MXM on other trading platforms, gaining profits through the buying or selling of tokens at suitable periods of time.

Source: CoinMarketCap
To date, MaxiMine has issued a total of 16 billion MXM tokens, with 1.6 billion MXM circulating in the market. Its 24 hour trading volume is over 9 million USD, and it has a total market capitalisation of over 59 million USD. Ranked in the top 100 based on market capitalisation, MaxiMine sits comfortably at the 85th place with great room for growth and high value for investment. This opportunity is certainly one not to be missed especially in a bear market like this!
Currently, the MaxiMine mining pool includes the Bitcoin mining pool, the Ethereum mining pool and the Litecoin mining pool. In the future, the MaxiMine team plans to incorporate other mining pools to meet the various needs of its users, offering them the option to choose freely among the pools. Adding more mining pools also enhances and increases the value of the MXM token and its overall functionality. While slumps in the market may lead to financial losses in the portfolios of investors, it also provides a prime opportunity to purchase promising cryptocurrencies like MXM at a lower price. Who knows? MXM may just be the coin needed to tide you through this bear market.

To find out more about MaxiMine, check out our social media accounts at:
Website: https://maximine.io/
Telegram: https://t.me/maximine
Reddit: https://www.reddit.com/maximine/
Twitter: https://twitter.com/maximinecoin
Medium: https://medium.com/@maximinecoin
Bitcointalk: https://bitcointalk.org/index.php?topic=3247389.0
submitted by maximineadmin to maximine [link] [comments]

Devs vision for XRB?

Posting here after getting repeatedly removed by Automod in Raiblocks.
I was hoping one of the devs (and anyone else that is interested) might have a moment to chime in and talk a little about their vision for XRB and it's place in the crypto movement as a whole.
I bought in starting around $3.00 and kept buying at various points all the way up to $30.00. I've done well with XRB and it's my biggest holding by far. I, like many here, got in because of the tech. I was sick of the exorbitant fees and time it took to transact in BTC, ETH and mostly in USD. XRB actually solved the problem that Bitcoin set out to solve. It COULD be a realistic alternative currency. That has not changed. But recently I have been trying to get my head around the reason for the widespread adoption of transactional coins as a whole.
Bitcoin, as painful and slow and expensive as it has become, still has a place as a "store of value". It is NOT a currency and not much good as a transactional system. But it is tried a true in terms of security. Outside of volatility (which will rationalize over time), I can see it being a great place to park wealth long term. Safe, secure and not subject to the whims of any one government.
Ether and numerous other utility coins speak for themselves in terms of valuation and adoption. Like a game token at an arcade, you have to buy it if you want to play.
But what about crypto as a currency? Why will it gain mainstream adoption? Why will consumers buy it, while will businesses accept it?
Right now, some business owners accept it most likely because they are bullish speculators in the short term. Consumers spend it, because it's novel, or because it's better to spend trading profits directly than to withdraw to fiat and risk the tax man asking questions. But these are niche cases.
Why will your average Walmart worker buy XRB with their hard earned USD? Maybe to avoid some fees or FX conversion when shopping online? The day that starts happening on mass is the day when those fees are slashed. Let's face it, blockchain tech is already being adopted by banks and payment processors to cut costs. Lower fees and fasting processing times will follow at some point.
What about businesses? Well, they still have to pay rent, and staff and lights in USD/YEN/RMB. Which means they take a currency risk when accepting anything else. What's the rationale? Maybe business that do a lot of international business will prefer to do cross border transactions in crypto rather than some default FIAT unit. I can see that....
I’m really interested in hearing your thoughts. I wouldn’t dare post this in some other subs lest I be accused of FUD and the like. But in my experience this community is a bit more cerebral about these kind of things, so I look forward to smarter people than me sharing their vision for the future of cryptoCurrency.
TL;DR
The tech gives XRB the ABILITY to act as alternative currency, but WHY will XRB and crypto in general ever get main stream adoption as a currency?
submitted by abfmcdonald to RaiTrade [link] [comments]

Report I by Stablecoin Research Institute - The Difficulties and Future of Stablecoin

Report I by Stablecoin Research Institute - The Difficulties and Future of Stablecoin
https://preview.redd.it/pnnmh4gt6ng21.jpg?width=1080&format=pjpg&auto=webp&s=3a94528a71b7c6e2db9ea746116afeec8d7b1c51

Bitcoin was originally conceived to be outside the fiat money system as an electronic cash system for a new world. However, at present, the currency standard is still the fiat money standard. The envisaged bitcoin-based settlement system still has no foundation or a wide consensus on the value of the currency standard.
As a compromise, many stablecoins provide a temporary solution for the ecology through a 1:1 anchorage of U.S. dollar, with third-party bank custody becoming mainstream. The rapid growth of Tether and the loss of market share in the face of competition have added more uncertainty to the current market. The decentralization scheme provided by MakerDAO was slightly weak in the initial competition but the reputation gradually accumulated. As the market deepens, cryptocurrencies based on more regional legal currencies are gradually coming online, and people are beginning to try different chain payment attempts.
This article refers to the article Stable Digital Currency Manual by co-founder of Zhibao Mikko, trying to explore the difficulties and future of stablecoin from a currency perspective.

The Difficulties of Bitcoin Settlement System
When it comes to stablecoins, the original idea of Bitcoin has to be mentioned ---- a peer-to-peer electronic cash system. Over the past decade, a series of expansions have been made in the blockchain technology and Bitcoin. In people's minds, Bitcoin will be a new generation of the world's monetary system, independent of the fiat money (US dollar) system, to de-intermediate transaction transfers and asset storage, to eliminate asset losses caused by the bank's centralized risk, and put an end to the harvest of wealth brought about by hyperinflation.
In reality, Bitcoin does have somehow established its own trading system - such as black market transactions in the dark network. Dark network commodity trading uses Bitcoin as a medium, and buyers and sellers are also happy to configure a portion of Bitcoin as a value reserve. On the other hand, Bitcoin is the most common trading medium among cryptocurrency exchanges for a long time before the popularity of USDT. Some people said, “Bitcoin is the real stablecoin.” In addition to observing the fluctuations in the value of the fiat money, the traders of various cryptocurrencies will also pay attention to the relationship between cryptocurrency and the bitcoin trading pair. But in this case, this so-called bitcoin-based trading system still has several problems.

https://preview.redd.it/679bncm37ng21.jpg?width=788&format=pjpg&auto=webp&s=dbbb630b286a87eb3b1a38ac48cabac4b653bf83

The first is the currency standard: even if some people regard Bitcoin as a gift, they have long believed that Bitcoin will eventually level the volatility and increase the index, but even the so-called beliefs are usually denominated in fiat money (US dollar, Euro, RMB). That is to say, the first problem with Bitcoin is that there is no pricing power. In other words, Bitcoin cannot perform the settlement function extensively in the holder's daily life. The daily benchmarking consensus based on Bitcoin in a wide range is that it doesn't exist at all.
In China, a Coke is 3 RMB, and in the US it is 1 US dollar. The two are under their respective independent settlement systems. If the person in one of the systems happens to come to another system, such as a Chinese who first bought a Coke in the United States, the first reaction is likely to be a cup of 6.71 yuan. Bitcoin or any other cryptocurrency does not have a similar settlement system under the independent monetary framework.
In the case that it is not possible to participate extensively in daily pricing, the currency standard is the fiat money standard. For members of the cryptocurrency community, the actual fiat money-based thinking does not directly affect the willingness of buyers and sellers to use Bitcoin or other cryptocurrencies for physical purchases, but when Bitcoin’s price against fiat money falls into huge downward fluctuations, it rejects the situation of receiving cryptocurrencies is inevitable.
So the second question directly promotes the strong demand for stablecoins: currency price fluctuations. On the other hand, it should be realized that Bitcoin does not have a complete settlement system and a broad and stable price consensus based on the system; on the other hand, since the initial definition of Bitcoin was an innovation independent of the traditional financial system, even if it is far from the original concept, the community consensus based on the decentralization and token incentives is different from the traditional financial system.
So for a long time, the market could not price bitcoin with the traditional asset framework. The triumph of 2017 has made the society more aware and acknowledged about Bitcoin and other cryptocurrency systems. The Chicago Mercantile Exchange CME has put on bitcoin futures at the end of the year. At the same time as government regulation gradually intervenes, the OTC exchange network outside the market is also getting better and better, and the pricing of bitcoin is starting to break away from fanaticism. At the end of 2017, the isolationism of various countries has become stronger, the pace of interest rate hikes of the FED has sped up, and global asset preferences have also undergone subtle changes towards safe-haven assets. China’s domestic capital has advocated “cash is the king” and Bitcoin has entered a down cycle.
As noted above, upside volatility can also encourage traditional merchants to participate in speculation, but downside volatility has caused most merchants to lose their willingness to treat Bitcoin as a currency. In 2018, with the increasingly strong bear market in the cryptocurrency world, the demand for safe-haven and stable-price trading media in the encryption community has skyrocketed, and countless stablecoin projects have been launched. At the same time, Tether, which occupied the absolute market share of stablecoins in 2017, continued to expand against the trend of black box operations.

Third Party Intermediary - Compromise of Fiat Money Stablecoins
The hot currency-backed stablecoin is undoubtedly a compromise of the cryptocurrency market against traditional currencies.
As Nakamoto said in the Bitcoin White Paper, “trade on the Internet almost requires financial institutions to act as trusted third parties to process electronic payment information. Although such systems work well in most cases, such systems are still endogenously constrained by the weakness of the 'trust based model'... We really need an electronic payment system that is based on cryptography rather than credit, making any parties that have reached an agreement can make payments directly, eliminating the need for third-party intermediaries."
Although the article refers to the payment process in the transaction, it is the same in terms of collateral custody. The trust of third-party financial institutions in this mode is inevitable. Trust means that when the custodian bank secretly misappropriates collateral or bankrupts for any reason, the user's assets will be difficult to guarantee, abbreviated as SPOF single point of failure.
But the good news is that when the market competition is fully carried out, the user as a whole is divided into several different groups, and different fiat money stablecoin products with different audit processes under different banks are used. A single point of failure of an individual project does not affect the continued operation of other stablecoin products; and the community response to a single company's evil or potential evil is greatly magnified as the number of competing products increases.
Taking Tether as an example, the giants who once occupied more than 95% of the market share of the stablecoin market finally ignited the trust crisis in the long-term refusal of transparent auditing, and the market share plummeted. In the foreseeable future, Tether will gradually liberalize its transparency and optimize its relationship with users to maintain its current market share. The stablecoin competing products that continue to enter the market will form a continuous multi-disciplinary force on existing projects in the market to promote market improvement and relief centralized risk.

The Rise and Blockage of Tether
The real rise of stablecoin is actually symbolized by Tether's exponential growth in 2017. From the eve of the dawn of 2017 to the day after 20 months, Tether's market value has skyrocketed from less than $7 million to more than $2.8 billion, a 400-fold increase.

USDT Year Chart (green - currency price; blue - market value)

In 2018, the hot stablecoin market, USDT's exclusive access to the stablecoin, and stablecoin’s widespread dissatisfaction with the rejection of third-party audits attracted many competitors. In March, True USD (TUSD) was transparently managed. The name entered the competition. Around October, stablecoins such as USDCoin (USDC), Gemini Dollar (GUSD) and Paxos Standard (PAX), which had strong background, compliance audit and good asset transparency, went online. At about the same time, perhaps the pressure from friends and merchants has soared. It is a coincidence that Tether has successively experienced a series of scandals and then the price collapsed in mid-October, and evaporated 40% of the market value in the following month. After a series of cycles, the situation gradually eased.
The four consecutive stablecoins mentioned above seized the market share and expanded rapidly in the next few months. In the month before the deadline, Tether's stablecoin market share was stable at around 70%, and the remaining market share was occupied by the top four newcomers. In the process of grabbing the market, there were fluctuations, including the only US compliance encryption. The progress of the USDC issued by the currency exchange COINBASE is the most eye-catching, and its market value accounts for about 10% of the overall stablecoin market at the time of writing.

https://preview.redd.it/wk591kvn7ng21.jpg?width=731&format=pjpg&auto=webp&s=39a89384cf7b848f50fee6884e109038ac0dc6c6

A simple conclusion is that Tether can still be stable even after the crisis, thanks to Tether's first-mover advantage in its existing position on global exchanges and the high liquidity it represents. The three basic functions of money are pricing units, value storage, and trading media, while liquidity is their common subtext.
The unit price provided by a currency lacking liquidity cannot obtain broad consensus of money users. The lack of consensus leads to price disorder, and the currency thus loses the valuation value. As a value storage and trading medium, it will miss trading object and depth due to low liquidity and cannot complete the basic function as a currency. Although the new four-dollar collateral stabilized currency occupies its place in the start of the competition with Tether, Tether sits on a whole bull market with a trading history that has a relatively complete trading pair coverage in the world's major exchanges; In addition to the full coverage of the exchange, USDT also has a sound OTC network construction, providing the most direct portal for stocks and potential incremental users. Under the superposition, Tether's endogenous and exogenous liquidity advantages are particularly evident, and even in the case of black box scandals, it can still occupy a fairly strong market share. But with the gradual gradual competition, peer supervision and the gradual enrichment of user-selectable products, Tether's fault-tolerant space for future strategies is not as optimistic as imagined.

HUSD - Self-contained Stablecoins
In response to the October crisis in Tether, the Fire Currency Exchange launched a HUSD Stabilization Coin program.
In this scheme, the Firecoin users will automatically convert to HUSD when they recharge the PAX, TUSD, USDC, and GUSD. HUSD has no actual issuance process, but simply a unit of pricing corresponding to four types of stablecoin recharge. After the user converts one of the stablecoins into HUSD, he or she can freely choose any one to redeem.
The program not only helps users to spread the centralization risk of a single fiat money stablecoin, but also helps the four stable coins to complete the group on the fire currency exchange to cope with the existing liquidity competitive advantage of the USDT. But on the other hand, the user's use of HUSD is based on trust in the fire currency exchange, in other words another single point of failure risk. Therefore, in order to dilute the risk of centralization, it is still necessary to transparently deal with the specific schemes of the fire currency exchange, and the supervision of the fire coins by the community, especially other exchanges.

Decentralization Breakout of Stablecoin
At present, a number of currency-backed stablecoins, led by USDT, cover almost all of the market capitalization and liquidity of the stablecoin market.
In this case, MakerDAO's DAI is extraordinarily precious. The DAI Stabilized Currency System generates a stablecoin DAI through over-collateralization of cryptocurrency. Most of the functions within the system are implemented or planned through the deployment of smart contracts, such as chain generation and redemption of stable coins, management of collateral, and so on. In addition to the DAI as a stablecoin, as a dual currency system, there is another governance currency called MKR in MakerDAO. Governance currency holders support the system's decentralized governance functions while enjoying the overall benefits of the system, and provide additional funding buffers for the system in events such as abnormal currency fluctuations.
In MakerDAO's overall vision, the system first endorses the credit of the stablecoin through the chain of excess collateral, while the interest generated by the credit function (the essence of DAI generated by the mortgage cryptocurrency is a lending process), the collateral under abnormal fluctuations The profit from the flat penalty triggered by Ping and the more financial derivative function to support the system's self-operation.
One of the biggest conflicts between the community and the cryptocurrency collateral currency is the risk exposure of the collateral in the warehouse when the cryptocurrency generates a stablecoin. Although in theory the users of the stablecoin can be separated from the mortgagor, the mortgagor can be a more risk-tolerant group, such as an eager borrower, a professional user of financial instruments, etc., but since the stablecoin is issued The identity of the person itself is subject to a natural limitation based on the degree of risk aversion, and its supply has an additional limit.
On the other hand, there is a limited source of information about Ethereum as a single collateral: the mortgagor is limited to holders of Ethereum. In MakerDAO's plan, the multi-collateral version of the system will gradually improve with iteration, and the achievement of this program will effectively reduce the risk of the MakerDAO collateral asset portfolio and increase the potential DAI generation limit. Ample supply and liquidity of the DAI will help activate the system in more possibilities on the market.

https://preview.redd.it/kjbefyb18ng21.jpg?width=950&format=pjpg&auto=webp&s=c0fb8f3892c3d50f5549460acbb26c45773a2cc3

Compared to the competition between the four newcomers and the USDT, the position of MakerDAO is quite different. If the user's choice between the four newcomers and the USDT is a trade-off between liquidity (product usability) and security, then between USDT and DAI is liquidity (product usability) and decentralized belief. The trade-off. As far as the market is concerned, MakerDAO's dual currency system seems to explain better how the project side can continue the project through the circulation of profits. Many of the fiat money-backed stablecoin projects have always wondered whether they will realize their own coinage rights in the future and thus harm the user's property rights.
As a successful decentralized stablecoin project, MakerDAO is one of the most successful projects on Ethereum. This is both a tribute to the MakerDAO development path: the development of other projects (dApp) on the Ethereum and the overall robustness of the ecology. As the second generation of the public chain, Ethereum pioneered the concept of smart contract, which is a milestone in the development of application on the chain. However, in the course of many years of development, the performance of the main network and the fragmentation technology have been delayed. So although MakerDAO claims that DAI will have many chain advantages as ERC20 tokens, it seems that the eApp side of Ethereum has not seen a good development momentum.
It is worth mentioning that in the performance of the public chain and dApp development, the EOS public chain has developed rapidly since the launch of the main network in 2018. If EOS has a stablecoin project like MakerDAO, and can properly handle potential security issues in the operation process (such as the potential risks caused by the scalability of the contract, etc.), there is much to be done. After all, in addition to seeking cooperation under the chain, the pricing system of cryptocurrency is more important to find and create niches that belong only to the world of cryptocurrency. A robust dApp ecology with a constant need for stable coins or the only possible form of this niche.

Choice Outside the U.S. Dollar
The few stablecoins currently circulating the most are anchoring the US dollar. There is no doubt that the status of the dollar in the current world currency system is irreplaceable. The bitcoin and other cryptocurrencies described in the beginning of the article lack the independent settlement system, and the US dollar is the extreme of the other end – the currency with the most complete settlement framework in the world.
From the gold standard to the Bretton Woods system, to the current global commodity and foreign exchange trading system centered on the US dollar-oil trading system, the three functions of currency pricing, storage and circulation are reflected in the US dollar. As the currency with the most universal purchasing power and deep trading depth, the US dollar has naturally become the primary anchor for many stablecoins that pursue international influence. The dependence of the stablecoin on the US dollar is a last resort. While stabilizing the dollar, the stablecoin not only enjoys the liquidity advantage brought by the dollar, but also inherits the volatility risk of the dollar itself. Although the US dollar is still the most trustworthy currency on a macro level, if A's main payment scenario is in Country A, and Country A's currency has a large appreciation of the US dollar due to market factors, then the asset holding the anchored US dollar. Bringing a higher base point risk to A.
Among the many non-US dollar currencies, the yen is one of the most distinctive currencies. The Japanese government has a positive attitude towards blockchain technology. In April 2017, it recognized the legal payment status of Bitcoin and formulated a series of laws and regulations for the exchange. At the same time, Japan is also one of the most active participants in the cryptocurrency market. At the end of 2018, Japanese IT giant GMO Internet announced that it plans to introduce a yen-linked cryptocurrency in 2019 to prepare for the next phase of cross-border settlement. The emergence of a liquid currency-stable yen stablecoin will not only help Japanese crypto community members to better participate in daily market behavior, but also help cross-border currency settlement. In addition, due to Japan’s domestic economic structure, monetary policy has maintained ultra-low interest rates for a long time. Under this premise, investors are more willing to invest in sovereign countries with higher interest rates, especially the United States. When the United States is in turmoil, funds are largely returned to the yen, which has a very low risk attribute, which raises the yen and lowers the dollar. Therefore, the emergence of the yen stablecoin can also provide a better safe haven for holders of USD stabilized coins such as USDT in the potential dollar crisis.
In addition to the yen, the private sector or the government of Australia, the euro zone and other countries are also involved in the development and deployment of their domestic currency stablecoin. While the vast majority will still be a similarly centralized bank hosting model, it should still be seen as an improvement and rationally expecting a more equitable and efficient system.

The Future Direction of the Stablecoin
As mentioned at the beginning of the article, the original idea of the cryptocurrency community for Bitcoin was to create a decentralized financial system that would be independent of the traditional monetary system. However, due to the lack of an independent and complete settlement system, or the lack of a broad currency-based pricing consensus, the cryptocurrency world cannot be formed into a real monetary system, and it has to rely on the attachment to the US dollar or other currencies to achieve long-term scenarios. Valuation of prices in cryptocurrencies, etc. Although Bitcoin itself has the believer of the currency standard, the foundation of the belief is mostly based on the re-exponential rise of the price of the bitcoin, which is still the thinking of fiat money.
Given that there is a consensus that goods can only be denominated in currency A in the payment and settlement system of country A, if the cryptocurrency world wants to form an independent payment settlement system, the best pricing unit for the purchase should be cryptocurrency. The anchoring of the U.S. dollar and other fiat money is just to use the currency attribute (otherwise the currency credit cannot be established), and will destruct the consensus to regard cryptocurrency as the best pricing unit and establish an independent monetary system (the cost of convenience). The power of habit is hard to overcome, and the habit of paying the currency of a chain certainly needs to be achieved by the widespread purchase of assets on the chain. This process requires gradual improvement of the payment scenario between stablecoin systems and dApps.
The cryptocurrency eco-walls we mentioned above are based on the hope of this exclusive chain-based settlement system. The simple dApp on the chain is obviously not enough. We also have two topics to be studied in the chain payment scenario and asset chaining. Users must complete the process from chain to chain and back to chain to integrate cryptocurrency pricing into everyday habitual thinking.
Then, the stablecoin will gradually deepen into people's daily life after several decades, while the banknotes gradually withdraw from the trading scene, and the sub-generation gradually accepts the new cryptocurrency value settlement system.


Reference:
Stable Digital Currency Manual (http://wisburg.com/2018/07/03/稳定数字货币手册/)
submitted by Starteos to eos [link] [comments]

BTC price manipulation is inescapable, but that may not be a bad thing

Monopolies become an economic choke-point. A gasoline monopoly increasing prices in order to make voters angry with an incumbent government, is a good example. Because of the risk monopolies present, nearly all participants in any given marketplace prefer orderliness and systemic bias against monopolies. Even nasty, mean-spirited, selfish rich people dislike monopolies (no, really) because their chances of becoming a beneficiary of one are exceptionally slim (statistically speaking). We don't mind the playing field being uneven - tilted in our favor - but we (as a species) are deeply biased toward fairness. This isn't ideological, it's game theory.
Could any government in the world buy or sell enough BTC to change the market price?
This is relevant to the question of BTC price manipulation, because it means two things are pretty certain: (1) governments and wealth managers are always actively looking for ways to manipulate BTC markets and (2) we will tend to end up manipulating BTC markets cooperatively.
How do you stop the 'Weapon-ization' of Bitcoin?
Governments (via state banks, coordinated by NGOs like the IMF, World Bank, BIS) will secure sufficient reserves of BTC to allow them to counter any possible manipulation by any other government that holds BTC. To avoid deploying it, they will agree to targets for easing/tightening based on inflation and growth. They will allow for transparency in the decision making process and will lead to limited stabilization of the BTC price.
If you think this sounds a lot like the broad strokes of the Gold Standard you're right.
Government buying and selling can indeed smooth out daily BTC price fluctuations. A coordinated group of BTC reserve holders that are able to buy or sell 10% of the total BTC supply can offset huge 'black swan'-scale economic shocks.
What this sort of buying and selling cannot do, however, is drive inflation. Inflation is the tool that governments use to keep people from hording currency. Spending is the 'Product' in GDP. Savings aren't counted, except as a contrarian indicator of economic health.
So what would this look like to a BTC user?
The value of BTC will go up over time, and you won't want to spend any. You will spend BTC on the bills you have to pay and the things you believe will appreciate in value even more quickly than BTC. The price of BTC will fluctuate by less than 1% on a day-to-day basis, and on average will close each day with a slightly higher value than it started with. The rate of appreciation will tend to match the incremental accumulation of global wealth plus the inflow of wealth coming from sale of other similar assets (like gold, treasuries, bonds). In the first few years of BTC's emergence (until ~2022) the rate of appreciation will seem rough with occasional surges of FOMO buying and profit-taking. On the whole, appreciation will be sharp. As volatility drops, the average incremental growth rate of BTC exchange value will fall toward the rate of global economic growth. Using gold as a guide, we can expect this to happen as the total capitalization of BTC approaches $5-10 Trillion USD (give or take a few $Trillion).
Major fiat currencies (EUR, USD, RMB) are not likely to disappear. Governments can require that their contractors, suppliers and employees accept their preferred fiat currency and can require that fees and taxes are paid with that same currency, creating arbitrary demand and supporting infrastructure. For day-to-day purchases, it may be commonplace to use fiat currencies for the foreseeable future, given the extensive existing infrastructure and well-understood regulation. For the average user, BTC may take the place of savings accounts, savings bonds, gold, annuities, treasuries, real estate, corporate bonds or even equities. For the next several years, people will use their BTC for major transactions like paying off student loans, buying cars or houses, paying off large tax bills, taking vacations, paying for medical expenses and the like. As the rate of increase in BTC value drops, it will become more and more commonplace for people to use it for increasingly smaller and more mundane purchases.
Are governments already manipulating the price of BTC?
Even without any specific evidence, it is quite safe to assume that they are. Any given government knows other governments can do it, therefore, they must also. Again, this is just application of game theory. It's not driven by any particular ideology or political viewpoint. Assuming governments are not all grossly incompetent (they aren't), we could also expect that they are exploring how the price of BTC can be manipulated and how they can monitor the markets for such manipulation. They are experimenting.
At this stage, where the market value of the entire BTC supply is still quite tiny, it may well be that some governments are actively doing so-called 'destructive' testing. If, at this stage of development they were to 'break' BTC the economic repercussions would be very small. For example, they may be try to depress the price to see what happens to the network when miners are starved for income. They may also drive the BTC prices up in order to observe and quantify FOMO. There could be a large number of discrete tests happening today - there's no real way to know.
If BTC survives this period of 'destructive' experimentation (and the capitalization of BTC grows large enough that it's collapse would have meaningful economic consequences) it is likely that this testing will end and the focus of government manipulation of the BTC price will shift to stabilization.
Why did you write this damned long post?
Sometimes this / makes some pretty useful comments on things; there are a lot of smart people lurking here.
Thanks for taking time.
submitted by Quartermark to Bitcoin [link] [comments]

Rather than purchasing USDT, I only believe in algorithm proven “stable currencies”

Rather than purchasing USDT, I only believe in algorithm proven “stable currencies”
I only believe in the algorithm proven “stable currencies”, and refuse to buy USDT. Take a step back and look at their scheme: Continuous issuing of USDT and using it to exchange other currencies. They suppress the currency prices, make empty profit futures, and profit by the low price stages.
Tether, the company behind USDT, claims that every dollarT issue is backed by a dollar, which means that if a customer transfers a dollar to their bank account, they will issue a USDT. However, reality is never as perfect as liars claim it to be.
According to CCN, Tether issued another $415 million USD worth of tokens in August, and USDT’s market value risen to number 8. Currently, daily trading volume is second only to Bitcoin, which is about $2.6 billion USD per day. Circulation rates are also higher than 90%.

https://preview.redd.it/ulg23mb5ckk11.png?width=1418&format=png&auto=webp&s=ae8b6434d56d08c2b59cdaaba6d777d47be1cb90
Tether has only stuck to one strategy to grow from the market value of 300,000 US dollars to the current 2.8 billion US dollars; nonstop issuing.
Tether has only stuck to one strategy to grow from the market value of 300,000 US dollars to the current 2.8 billion US dollars; nonstop issuing.
Assuming Tether and Bitfinex wants to control the BTC prices, their power alone is insufficient. (New players are about to join the stage)
In addition to the platform trading we are familiar with, there is another trading method for over-the-counter big orders. Specifically, the buyer and the seller agree to a discount (such as 5%) in several batches of transactions.
For example, for a transaction of about 100,000 Bitcoin, to break the transaction over a few days and under each day’s Bitfinex price of about 5%.
On the first day, 20,000 units are traded. Bitfinex price is 10,000 USD, so the transaction price would be 9,500 USD.
The next day, another 20,000 units are traded, but now the Bitfines price may be 12,000 USD so the trading price is adjusted to 11,400 USD.
So on and so forth until the fifth day the last 20,000 units are traded and the transaction is complete.
The most commonly used escrow agent for OTC Bitcoin is Noble Bank. Similar to Taobao, the buyer contacts Noble first. After the buyer receives the currency, Noble transfers to the seller.
It is worth noting that Tether issued a certificate from the FSS Law Firm some time ago, claiming that there is 1:1 USD in their bank account for their issued USDT. However, Eugene Sullivan, a senior partner at the law firm, is also a consultant to Noble Bank!
On August 22nd, Tether Treasury, one of Tether's core wallet addresses, transferred a one-time one-way 100 million USDT to Bitfinex wallet addresses.

https://preview.redd.it/qiq29u86ckk11.png?width=356&format=png&auto=webp&s=f2fdb3d7bec84291c79f16fd4a48e4ca53be483a
From August 12 to 22, Tether Treasury transferred a total of 415 million USDT to Bitfinex wallets, accounting for 13.74% of the current total USDT ($3.02 billion). The transfers within the last ten days were all one-way transfers from Tether to Bitfinex, which is consistent with the additional 415 million issued.
(There is still a lot of USDT in Tether's wallet, it is expected that USDT may continue to be transferred)
Since the 17th, Bitfinex's cold wallet account has reveived up to 30,165 BTC, and after deduction of out transfers, still has a net gain of 17,369 BTC.
Not only that, but Bitfinex's ETH wallet account is also swelling. In just 3 days, it has gained a total of 2.6 million ETH! It is worth noting that this account has been heavily funded in the past two months.
The account also increases in value after every market plunge, and Bitfinex's ETH wealth has crept up to the fifth ranking, reaching an astonishing 1.3 million ETH equivalent to about 2.6 billion RMB!
Will Tether continue to issue USDT? Definitely. The market demand for stable tokens is still increasing. Tether will continue to play the role of the Fed in the currency circle, milking its cash cow of nonstop issuing.
Tether even stated its future in its white paper: to flee!
📷
(Picture Translation Remark: The company may go bankrupt, assets may be frozen by the bank, the company may flee with assets, and this system may collapse with decentralization.)
submitted by BitRabbit_Team to u/BitRabbit_Team [link] [comments]

CEO of Largest Bitcoin Exchange in the World, Huobi Responds to MT.GOX Situation| Situation in China | Says USD and LTC on Huobi is in works

http://forexmagnates.com/exclusive-interview-ceo-of-largest-bitcoin-exchange-in-the-world-huobi-responds-to-mt-gox-situation/
** "Does your company have a global expansion plan or will you stay a China-only business?**
Huobi definitely has a global expansion plan and USD exchange will be the most critical part of it. But before we go global, we need to first strengthen our stand in China and maintain our leading advantage as well as building up our competitive edge.
Huobi’s trading volumes have surpassed all other exchanges and it is now the biggest exchange in the whole world. How many users trade on an average day to generate such high volumes and how do you explain the unusually high numbers?
Having large volumes is related to our no-exchange fee strategy. Besides, China is a huge Bitcoin mining country and also a country of more hot money. These are all our advantages. As to the question “How many users trade on an average day?” It involves our website operating data and I cannot give the exact number to you. It is over ten thousand. And this number, compared to the vast population of China, is still very small. Therefore there should be more space to grow.
Are any of your clients actually using Bitcoin for shopping or is it all speculators at this time in your view?
Currently in China, Bitcoin is not allowed to enter the circulation and used as currency. Therefore most of Bitcoin traders in China are investors.
A lot of people outside of China fail to understand the current legal situation regarding Bitcoin in your country, please explain how you see it.
The Chinese government policy of Bitcoin is clear: they do not accept Bitcoin as currency and do not allow Bitcoin to enter the market circulation as value marker or payment method. However, the government allows Chinese citizens to consider Bitcoin as investment to be invested and traded freely. At the same time, the Payment and Settlement Department of the People’s Bank of China (Editor’s note: the Chinese Central Bank) specifies that third-party payment companies in China cannot provide Bitcoin payment and settlement service in RMB.
This is the well announced policy in China. As to how the Bitcoin policy will be in the future, it is highly unpredictable.
When do you plan to offer other popular currencies such as Litecoin, Dogecoin or any others?
We’ll evaluate the virtual currencies’ general market value and its circulation to decide whether to include them. Litecoin is in our plan. We need more observation of the situation of Dogecoin.
** Have you ever encountered something like the bug MT.GOX claims and what do you think about the situation?**
Wallets sometimes experience small technical problems, but all of them can be fixed and thus won’t cause large-scale withdrawal problem. We are aware of the technical problem that Mt. GOX raised and our Technical Department is working on the details."
submitted by FixPUNK to BitcoinMarkets [link] [comments]

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