Currency Converter - MSN Money

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
unreddit undelete link
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]

Daily analysis of cryptocurrencies 20191012(Market index 38 — Fear state)

Daily analysis of cryptocurrencies 20191012(Market index 38 — Fear state)

https://preview.redd.it/gpswfk9ld3s31.png?width=960&format=png&auto=webp&s=afeb6dfb7babcd9c8df403e2120e265020250988

DEWA Inks Deal With Alibaba For Blockchain And IoT Dubai Electricity and Water Authority (DEWA) said it has signed a MoU with Alibaba Cloud, the data intelligence backbone of Chinese e-commerce giant Alibaba Group as part of the utility’s ongoing efforts to enhance its digital services.
Swedish Government Auctions Cryptocurrency Again The Swedish Enforcement Authority, Kronofogden, is once again auctioning off cryptocurrency that has been allotted for public sale. The online auction, which is the second of this kind the government agency conducts, starts on Friday, October 11. Kronofogden first auctioned Bitcoins it had in its custody about two years ago, when the highest bid was placed at 43,000 Swedish krona.
US And China Agree ‘Phase 1’ Trade Deal; Trump Suspends October Tariff Hike The United States and China agreed on Oct 11 to the first phase of a deal to end a trade war, prompting President Donald Trump to suspend a threatened tariff hike, but officials said the agreement had to be put on paper and more work was required to get it finalised. The real-time exchange rate between USD and RMB is 7.0892 currently.
David Marcus: Respect Visa And Mastercard’s Decision To Wait For Regulatory Clarity For Libra To Proceed After several companies announced their withdrawal from cryptocurrency Libra’s management association lead by Facebook, Libra project leader David Marcus said on Twitter, “Special thanks to @Visa and @Mastercardfor sticking it out until the 11th hour. The pressure has been intense (understatement), and I respect their decision to wait until there’s regulatory clarity for @Libra_to proceed, vs. the invoked threats (by many) on their biz.” He also added, “I would caution against reading the fate of Libra into this update. Of course, it’s not great news in the short term, but in a way it’s liberating. Stay tuned for more very soon. Change of this magnitude is hard. You know you’re on to something when so much pressure builds up.”
SEC, CFTC, FinCEN Warn Crypto Industry To Follow US Banking Laws The heads of three U.S. financial regulators warned the cryptocurrency industry to abide by banking laws in a joint statement published Friday. The statement, signed by Commodity Futures Trading Commission (CFTC) Chairman Heath Tarbert, Financial Crimes Enforcement Network (FinCEN) Director Kenneth Blanco and Securities and Exchange Commission (SEC) Chairman Jay Clayton, “reminds” actors in the crypto space that they must comply with various banking and financial services laws in the U.S., regardless of what they call their cryptocurrencies or tokens.

Encrypted project calendar(October 12, 2019)

BTC/Bitcoin: The 2019 Global Mining Leaders Summit will be held in Chengdu, China from October 12th to 14th. BLAST (BLAST): 12 October 2019 (or earlier) Masternode & Assets “Masternode functionality and versionbits signalling for Assets will become active on the BLAST network at block height 1710000.” Pundi X (NPXS): and 1 other 12 October 2019 Token Removal “The next token removal will take place on the second Saturday of October OKEX OKToken: 12 October 2019 Global Mining Summit “We’re bringing together the global leaders who are shaping the crypto mining industry today. Attendance is limited to 300 invited guests.” Bitcoin Fast (BTCF): 12 October 2019 Staking Announcement Details about staking BTCF will be shared.

Encrypted project calendar(October 13, 2019)

LINK/ChainLink: ChainLink (LINK) will be held in Tokyo on October 13th by a collaboration between QuarkChain, bitgrit, Chainlink and Vechain. Veros (VRS): 14 October 2019 Launch of News Service “Launch of the VEROS NEWS service.”

Encrypted project calendar(October 14, 2019)

BCH/Bitcoin Cash: The ChainPoint 19 conference will be held in Armenia from October 14th to 15th. Veros (VRS): 14 October 2019 Launch of News Service “Launch of the VEROS NEWS service.”

Encrypted project calendar(October 15, 2019)

RUFF/RUFF Token: Ruff will end the three-month early bird program on October 15th KAT/Kambria: Kambria (KAT) exchanges ERC20 KAT for a 10% bonus on BEP2 KAT-7BB, and the token exchange reward will end on October 15. BTC/Bitcoin: The Blockchain Technology Investment Summit (CIS) will be held in Los Angeles from October 15th to 16th. OTOCASH (OTO): 15 October 2019 Escodex Shutdown “ All OTO HOLDERs who have assets on ESCODEX EXCHANGE to immediately withdraw your assets before October 15th, 2019 4:00 PM” (CRYPTO): 15 October 2019 Hard Fork Summit Hard Fork Summit 2019 by TNW . “Where finance and business meets tech.” Amsterdam, October 15–17. Cardano (ADA): 15 October 2019 NYC Meetup “Next week on October 15th Nathan Kaiser, Chairperson of the Cardano Foundation, will be in attendance to meet community members in NYC FunFair (FUN): 15 October 2019 Marketing AMA “The FunFair Marketing AMA… will be held on Tuesday the 15th of October at 2pm in the Live team chat channel on Discord Ark (ARK): 15 October 2019 ARK Core v2.6 on Devnet “We are very excited to announce #ARK Core v2.6 will be launching on #Devnet, October 15th, 2019! “ DigiByte (DGB): 15 October 2019 BitMart Listing DigiByte (DGB) will be listed on BitMart Exchange on October 15, 2019. The following trading pair will be available: DGB/BTC. ThoreNext (THX): 15 October 2019 Staking Goes Live “Staking live from 15 OCT 2019.”

Encrypted project calendar(October 16, 2019)

BTC/Bitcoin: The 2019 Blockchain Life Summit will be held in Moscow, Russia from October 16th to 17th. MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on the theme of “Technology Problem Solving and Testing IoT Devices” at the University of Southern California in Los Angeles on October 16. ETH/Ethereum: Ethereum launches Istanbul (Istanbul) main network upgrade, this main network upgrade involves 6 code upgrades. QTUM/Qtum: Qtum (QTUM) Qtum main network hard fork is scheduled for October 16. (CRYPTO): and 1 other 16 October 2019 Supply Chains Unblocked Supply Chains Unblocked in London from 9:30 AM — 6 PM. Binance Coin (BNB): 16 October 2019 Singapore Meetup “Bring your friends to come along with, & it will be FUN! With snacks and drinks.” IoTeX (IOTX): 16 October 2019 Mainet Beta “The next evolution of IoTeX blockchain, secure IoT hardware, and decentralized identity is coming October 16 — mark your calendars.” Selfkey (KEY): 16 October 2019 Corporate Wallet Release “Soon, wallet users will be able to manage corporate profiles and identity attributes.” Cardano (ADA): 16 October 2019 Washington D.C. Meetup “Nathan Kaiser, Chairperson of the Cardano Foundation, will join the community in Washington DC on Oct 16, and talk about the recent

Encrypted project calendar(October 17, 2019)

Holo (HOT): 17 October 2019 Redgrid AMA “Join us for the AMA with RedGrid on October 17th. Submit your questions before the AMA on our Holochain Dev Forum.” IOST (IOST): 17 October 2019 Breeding Competition Ends “Join IOST 2nd Breeding Competition by @FishChainGame now! The competition only lasts till 17 Oct” Aragon (ANT): 17 October 2019 Seoul Meetup “You are invited to join @licuende for a meetup and presentation on ‘Aragon and DAOs: What’s next after ICOs and DeFi?’” Skycoin (SKY): 17 October 2019 NYC Skywire Meetup NYC Skywire Mainnet Meetup in NYC from 6–8 PM. Horizen (ZEN): 17 October 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.

Encrypted project calendar(October 18, 2019)

BTC/Bitcoin: The SEC will give a pass on the VanEck/SolidX ETF on October 18th and make a final decision HB/HeartBout: HeartBout (HB) will officially release the Android version of the HeartBout app on October 18. OKB (OKB): 18 October 2019 Rotterdam Meetup “Meet us in Rotterdam on 18 Oct as we partner up with Crypto010 Meetup to bring you a talk on ‘Decentralized Finance’.” HeartBout (HB): 18 October 2019 Android Version “18th of October 2019 will be officially released Android version of HeartBout app.” BTU Protocol (BTU): and 2 others 18 October 2019 Paris Blockchain Summit The event will gather major international key players of the Blockchain ecosystem including well-known influencers, investors, government…

Encrypted project calendar(October 19, 2019)

PI/PCHAIN Network: The PCHAIN (PI) backbone (Phase 5, 82 nodes, 164, 023, 802 $ PI, 7 candidates) will begin on October 19. LINK/ChainLink: Diffusion 2019 will be held in Berlin, Germany from October 19th to 20th DeepBrain Chain (DBC): 19 October 2019 (or earlier) Deploy Main Chain “Deploy Main Chain,” during the third week of October. General Event (CRYPTO): and 1 other 19 October 2019 Free State Blockchain “This “unconference” style event brings together some of the top financial tech innovators, researchers, company leaders, and other…” PCHAIN (PI): 19 October 2019 Main Chain Voting “Main chain: Epoch 5, 82 nodes, 164,023,802 $PI, 7 Candidates, voting will start on Oct. 19th.” Nash Exchange (NEX): 19 October 2019 Nash Anniversary Nash will present their work from the third quarter of 2019. Team members will be present and to answer your questions in person.

Encrypted project calendar(October 20, 2019)

GameCredits (GAME): 20 October 2019 (or earlier) Mining Reward Drop GameCredits mining reward will be cut in half at block 2519999 (~October 20). This will be the 4th halvening of the GAME mining reward!

Encrypted project calendar(October 21, 2019)

KNC/Kyber Network: The official online hackathon of the Kyber Network (KNC) project will end on October 21st, with more than $42,000 in prize money.

Encrypted project calendar(October 22, 2019)

ZRX/0x: The 0x protocol (ZRX) Pantera blockchain summit will be held on October 22.

Encrypted project calendar(October 23, 2019)

MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on October 23rd at the University of Southern California in Los Angeles with the theme “Connecting the I3 Market and Experiencing Purchase and Sales Data.” BTC/Bitcoin: The WBS World Blockchain Summit (Middle East) will be held in Dubai from October 23rd to 24th.

Encrypted project calendar(October 24, 2019)

BCN/Bytecoin: Bytecoin (BCN) released the hidden amount of the Bytecoin block network on October 24.

Encrypted project calendar(October 25, 2019)

ADA/Cardano: Cardano (ADA) The Ada community will host a community gathering in the Dominican Republic for the first time on October 25.

Encrypted project calendar(October 26, 2019)

KAT/Kambria: Kambria (KAT) Kambria will host the 2019 Southern California Artificial Intelligence and Data Science Conference in Los Angeles on October 26th with IDEAS. BTC/Bitcoin: CoinAgenda Global Summit will be held in Las Vegas from October 26th to 28th

Encrypted project calendar(October 28, 2019)

LTC/Litecoin: Litecoin (LTC) 2019 Litecoin Summit will be held from October 28th to October 29th in Las Vegas, USA BTC/Bitcoin: Mt.Gox changes the debt compensation plan submission deadline to October 28 ZEC/Zcash: Zcash (ZEC) will activate the Blossom Agreement on October 28th

Encrypted project calendar(October 29, 2019)

BTC/Bitcoin: The 2nd World Encryption Conference (WCC) will be held in Las Vegas from October 29th to 31st.

Encrypted project calendar(October 30, 2019)

MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on October 30th at the University of Southern California in Los Angeles on the topic “How to store data on IOTA Tangle.”

Encrypted project calendar(November 1, 2019)

INS/Insolar: The Insolar (INS) Insolar wallet and the redesigned Insolar Block Explorer will be operational on November 1, 2019.

Encrypted project calendar(November 6, 2019)

STEEM/Steem: The Steem (STEEM) SteemFest 4 conference will be held in Bangkok from November 6th to 10th.

Encrypted project calendar(November 8, 2019)

BTC/Bitcoin: The 2nd Global Digital Mining Summit will be held in Frankfurt, Germany from October 8th to 10th.

Encrypted project calendar(November 9, 2019)

CENNZ/Centrality: Centrality (CENNZ) will meet in InsurTechNZ Connect — Insurance and Blockchain on October 9th in Auckland.

At the time of writing, Bitcoin is trading down marginally at its current price of $8,250 which marks a slight retrace from its daily highs of $8,445. Ever since BTC bounced from its support level at $8,600, the cryptocurrency has been facing a bout of consolidation after its upwards momentum stalled, which may mean that its bulls do not have enough strength at the moment to push the cryptocurrency higher.
Review previous articles: https://medium.com/@to.liuwen

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submitted by liuidaxmn to u/liuidaxmn [link] [comments]

[Review] Hermés Apple Watch band review from TB

Hi RepLadies, this is my first review! Hope you enjoy it and please let me know if you have any questions.

Price and Payment method:

188 RMB. Shipped using EMS as part of a 1.6kg haul which was approx $42 AUD and $4.97 AUD for rehearsal shipping. And a few dollars went towards a tip to the agent.

Shipping:

(Was waiting for a pair of Vans and BLACKPINK merch, to arrive at my warehouse before shipping the haul\*******)*
This took a while for EMS compared to my past hauls but no complaints here because it only took 2 days longer than it usually takes. However I wanted to note it seems using an AusPost parcel locker followed a different route to what happens when I use my home address. I live in nothern Sydney and the domestic route usually is: ends up in the international clearance centre about 25km away from me gets sent to a local distribution facility ends up in my lap about half a day later. This time around though it went to Melbourne for clearance, then to Tasmania to sit and chill, and then finally to my loving arms (or just my left arm, in this case).
TL;DR: this package travelled a further 1500km more than my EMS packages from TS usually do. I’ll keep experimenting with parcel lockers and let you Aussie ladies know how it goes (unlike my regular orders from The Iconic, I probably shouldn’t get cheeky counterfeits delivered to my work address)

Agent: 8.5/10

-1: As an Aussie RL member, SuperBuy charging in USD instead of CNY means I go through two currency conversions: CNY > USD (on SuperBuy’s exchange rate) and then USD > AUD (on my credit card or Paypal’s exchange rate) every time I purchase an item. Unfortunately no way around this AFAIK.
-0.5: I have bought two bands from this TB seller through SuperBuy (one still in warehouse), and both times they have messaged me to say it’s an incorrect size because the band itself isn’t 42mm long (38mm / 42mm / 40mm / 44mm refers to the Apple Watch screen size, not the width of the actual watch). The first time I thought this was going above and beyond from SuperBuy’s part, which I appreciated, but now they’ve asked again I’m assuming they’re going to do this every time I order. This item is low-key popping off on Reddit so I’m hoping they’ll learn and won’t make this an additional step for everyone ordering.

Quality: 8/10

Locks right into the Apple Watch perfectly and as good as their official bands. There’s no fear of my watch going flying like on the cheap Amazon/eBay third party bands.
-2: This “leather” may as well be sandpaper compared to the buttery smooth feel of the auth. That’s probably a bad analogy – it’s perfectly fine for wear (as long as you’re not using it at the gym of course), comfy enough and not irritating to the skin in the slightest. Here's a better analogy: the quality of the “leather” (not entirely sure what the material is tbh) would be low/mid-tier DHGate rep as opposed to what we’d be getting from a high-end TS.

Accuracy: 8.5/10

The colour and stitching are on point compared to the product shots on Apple’s website. I can only report on the single tour orange band I bought, but there are a couple of reviewer’s shots in the review section of the listing on TB of the traditional brown one too. No idea how good the double tour one is.
It doesn’t come with a branded box but I’m not deducting a point for that because it meant I could ask SuperBuy to chuck it out and save on shipping.
-1: Hermes logo is engraved on auth, on this rep it’s just printed. But there’s no way for anyone to tell unless they’re studying your wrist extremely closely.
-0.5: The leather being different to the auth is not an immediate giveaway. This rep fooled a friend who works at Apple until he looked closer and felt the leather.

Communication: 10/10

The seller was very prompt to respond to SuperBuy’s request for exchange (at first when SuperBuy informed me that the seller sent me the wrong size, I thought they meant the seller sent me the 38mm instead of the 42mm, so I filed for an exchange). The seller replied to SuperBuy and within a day I was told no exchange was required because the watch band was the right size for me.

Happiness: 9/10

Definitely my best TB purchase thus far into my one month RL career. Can’t go wrong with this if you don’t mind the mid-tier DHGate-level materials used. A friend who is generally a bit snobby towards reps was impressed by this and is gonna make an exception and wants me to order them one! It would be a dream for a high-end rep one day (especially of the new bands they've just announced) but I'm thrilled to have this to spice up my watch band rotation.
submitted by jontomlinson to RepLadies [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]

Clearing Up Misconceptions: My Guide to Transferring Money Out of China By Bank

(Crossposted to /shanghai .)
There have been a lot of questions on here about transferring money to home countries on here and on /Shanghai. A lot of answers, while containing partial truths, have been misleading because they have mis-stated the rules. There's also a lot of information online that is obsolete or simply wrong. I want to clear up some of these misconceptions, because I also wasted a lot of time researching this when I first started.
As to my qualifications for this post, I always use the bank for my transfers, and I do it the proper way. I'll also explain why the proper way is better for my needs and why it may make sense for you as well.
First of all, know the following regulatory principles which apply regardless of which bank you use (I will later detail the rules which may be bank-specific):
  1. The regulations are that foreigners can convert either USD 500 per day OR the amount of after-China-tax income (for which there is the requisite documentary proof that tax has been paid). This is a limit on conversion, not transfer. That is to say, you can convert the money on many separate occasions, then transfer it all at once.
  2. The regulations for Chinese citizens are that each citizen can convert USD 50,000 each calendar year (barring special permission or approvals).
That's it. The reason there is so much misleading information online is that a lot of the other rules are region or bank specific. So your experience may differ wildly from others'.
Here is my specific experience (with China Construction Bank in Shanghai). In my experience, even different bank branches IN THE SAME CITY will demand wildly different documents. What I do is simply always go to the same large branch which actually processes the overseas transfers. For me, this is the one on Yuyuan Lu near the Jing'an Temple Metro. They are professional, fast, and consistent. In general, areas with more foreigners and/or richer people will do this service a lot better.
They ask for (and have given me written documentation showing this to be the bank's official requirements - so the other branches asking for other documentation are simply wrong, but of course refuse to admit it):
(These are the English terms the bank uses. The parenthetical annotations are my clarifications.)
  1. Passport
  2. Employment Permit (Brown Booklet)
  3. Tax List (Monthly Tax Receipt)
  4. Contract (Labor Contract. I also bring any additions to my labor contract showing salary increases and contract extensions.)
  5. Income Certification (This should be a letter from your HR or Finance department simply stating how much tax you pay every month and what your after-tax salary is every month. It should be on official company letterhead and have your company's or HR or Finance department's official chop.)
So, you may be saying that the above is a lot of trouble. In fact, it is. But I find it to have the following advantages, compared to other methods:
  1. Fees are reasonable. Paypal and Western Union fees are an order of magnitude higher than what you pay with most banks.
  2. Privacy. If you ask a Chinese national to transfer money for you, there is of course the risk that they simply steal the money. That's probably very unlikely if it is a person that you have good reason to trust, but I still don't ever want to tell anyone how much I make or how much money I have or imply it in any way. That's generally good practice and applies to this as much as it does to anything. You are also incurring a personal obligation by having them do this, and I'm not comfortable with it. After all, you are using up a big part of their annual limit that they have.
  3. Reasonably stable exchange rates, and decent exchange rates at the bank. Bitcoin is more expensive bought in RMB in China than it is sold in USD in the US partly because of currency controls, so by buying bitcoin in China, you incur the cost of this spread, as well as counterparty risk.
Hope this helps everyone.
(Also, your company may have the options of simply doing this international transfer for you automatically to your foreign bank account. If you are researching this question, I've assumed this isn't workable for you for one reason or the other.)
submitted by innerscorecard to China [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]

LVX Token is the Ultimate Game-Changer that will Completely Open the Derivatives Market!

LVX Token is the Ultimate Game-Changer that will Completely Open the Derivatives Market!
https://preview.redd.it/kwxqpewxxsz11.png?width=1000&format=png&auto=webp&s=853089f6dbc5f104b807fb33e70820233c9baf8a
The crash happened. Not once, not twice, but certainly more than thrice. It is as thrilling as it is uncertain. It is Bitcoin and Morgan Stanley said it is behaving a lot like how Nasdaq did in the dot-com bubble but 15 times faster.
Investors with high-risk appetite love Bitcoin’s speculative trading patterns because it comes with juicy high-yield returns. Having said that, there are not many high-risk investors in the global investment market because the bulk of the population consists of many other types of investors who do not find Bitcoin an attractive investment for their portfolios. They label Bitcoin as “a volatile store of value” and veer away for safety.
Being the first cryptocurrency to emerge from Blockchain technology, Bitcoin forged the perception of price-instability, risk and volatility. But eight years have since passed and the more recent BlockChain technologies like Ethereum emerged with multiple platforms that innovate and disrupt many industries. These platforms shift the focus away from cryptocurrencies as financial tools and move it more toward a utilitarian purpose that promises to be stable enough for everyday use, yet lucrative enough as an investment vehicle.
This is huge because the demand for a stable coin or token can easily surpass the demand for volatile cryptocurrency. If a coin or token demonstrates the ability to be as stable as say the US Dollar, people would be comfortable to buy, sell or invest with it daily. When that happens, the masses would become active users of the platform, and this creates a robust, vibrant and fundamentally solid digital economy that could grow big enough to rival any given country’s GDP growth.
LVX: DESIGNED FOR LONG TERM GROWTH The LVX token is a great example of a price-stable coin. It is a native token on Level01, the World’s First Brokerless Derivatives Exchange in Partnership with Thomson Reuters. The LVX token is designed to be a universal asset currency on the platform as it can be used to trade all kinds of derivatives like crypto currencies, commodities, forex and stocks; it can also be converted to Bitcoin or Ethereum, which can then be converted to any fiat currency like USD, RMB and EUD. The founders of Level01 employ smart tokenomics and platform design to drive sustainable long-term growth and efficiency. In simple layman terms, this means this digital ecosystem and its native currency are built to last forever. How is this possible?
Well, are several measures in place:
THE CAP The Cap is a gatekeeper to retaining token value in a healthy digital economy. It is counterproductive to have unlimited tokens because investors are not incentivized to purchase in the short term. Level01’s ICO (Initial Coin Offering) issued its native LVX tokens with the total supply capped at 1,200,000,000 (1.2 Billion) tokens. The sheer size of the issued tokens is large enough to invite global user participation, while the finite amount helps creates scarcity and incentives for people to purchase the tokens immediately. For those doubting, the derivatives market is worth 1.2 quadrillion according to Investopedia, thus our LVX token quantity is actually small and will go up and demand increases.
THE VALUE AND LIQUIDITY Money is a trustworthy unit of account, and store of value with tremendous liquidity. The LVX token meets the very same criteria by virtue of being an ERC20 token on the Ethereum. These tokens enable transparent and fair settlement, because transactions are handled by smart contracts that programmatically disburse returns to trade winners.
To strengthen liquidity and value, the LVX token will be registered on prominent cryptocurrency exchanges worldwide, and be made available for actual trading and exchange with other cryptocurrencies and commodities.
THE WHALES ARE KEPT AWAY Imagine sitting on a seesaw with a whale. There is just no way, you’re going to enjoy the ride because the whale dominates with his weight. The founders of Level01 understand this basic principle and recognize that the true value of the token crowd-sale manifests in its early contributors and diverse community. Every effort is then made to ensure the token sales are distributed to many investors, rather than allowing the concentration of the platform tokens in the hands of single large investors or groups, also known as ‘whales’.
THERE IS TOKEN UTILITY Beyond the promise of a stable trading environment, Level01 rewards early adopters of the token through incentivized staking. LVX tokens can be ‘staked’ by investors to host trading rooms where group-trading events are held, and investors can earn traderoom-hosting commissions. The staked tokens are reimbursed through smart contracts after a staking duration.
Investors are free to use tokens to organize tournaments in daily, weekly, fortnightly and monthly intervals. Tournament host organizers then earn a percentage of tournament fees raised during the event.
These mechanisms encourage investor participation to occur organically at a rate that benefits everyone on the Level01 platform.
THERE IS TRANSPARENCY Level01 investors are privy to transparent market data verified by Thomson Reuters. Historical and real-time data from a credible source empowers investors to make their own financial decisions. On top of that, LVX tokens provide the means to transparent and fair settlement on the Blockchain because it is handled by smart contracts that are programmatically disbursed to trade winners, as trading profits.
These measures secure LVX’s price-stability and make it a viable token or coin for investment. As more users or investors come on board Level01, the global investment market will witness the full potential of a Brokerless Derivatives Exchange.
submitted by Level01Exchange to u/Level01Exchange [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]

2nd Round AMA Answers!

2nd Round of our AMA for the Nucleus Developers on Hcash
 
Please review the answers from the first round of the AMA here.
 
Reddit 2nd Round AMA Answers
How about questions for Dallas, Khal, Andrew and Ryan? I’m sure everyone would appreciate a live Q&A from them.
You could try sending a request via direct message with questions on Facebook or Twitter. The Nucleus Team is focused on the technological development and planning at this time.
You stated previously that the swap values will be calculated on the “real time market value” of each coin. How will the market value be derived? Will it include exchange values from Binance, Poloniex, CoinMarketCap, or an average of these? Will the market value be derived in USD, AUG, RMB, or an average of them all?
Just to clarify for everyone that we are discussing interoperable swap values. This value will be an aggregated number like you see on CoinMarketCap or Coincap, which includes regional averages.
Is there an ETA a to when the yellow paper will be released?
ETA on the yellow paper is Q2 2018
This article says that the HSR code was copied from the DCR code in GitHub. Don’t you think you need an explanation?
The HSR code is forked from DCR. The GitHub repository was not created properly by the team prior to the Nucleus Team’s involvement. Existing GitHub issues originated from cultural differences as the research lab at the university where the work was done is not familiar with open source development practices, tools and their benefits. Unfortunately, this has resulted in less than positive relations between the DCR and HSR communities. We are following procedures going forward to ensure the original authors of open source projects are properly attributed as well as properly forked to help both repos benefit from the possibility of merging in changes from future development progress. Anything that we can do to contribute to Decred’s dev team and community will benefit both projects and we are looking forward to exploring future possibilities after the main HCash chain launch.
What features will the main chain have on it’s initial launch on February 15th?
February 15th is a tentative date. We are still referring to launch as being mid-February. The primary feature will be the first Go implementation of BLISS and quantum resistant transactions. We will also evaluate the future potential of bitcoin NG on public testnets to decide the features we propose to include in future forks in order to keep progress steady and continue developing the strength of the main chain. Segwit will still need to be activated on the main chain to provide Lightning Network and atomic swaps.
 
Baidu 2nd Round AMA
Are there any projects you wish to launch this year?
We are looking forward to the launch of the main chain. Next, we are planning on contributing to Lightning Network development as well as the side DAG design and development. The side DAG will be available for a longer testing period to allow for new projects to begin building off the EVM. As PQ addresses are adopted we aim to implement other quantum-resistant signature options for users of the network.
What will your team devote the core of its attention on as it works this year?
The primary focus post launch will be Lightning Network and side DAG design and deployment.
I took a close look at the whitepaper. It doesn’t clearly say when the technology allowing cross-chain trading will be implemented. It also didn’t specify what development schedule is for that tech. Could you please explain it to me?
The roadmap will be updated post main chain launch. We need to make sure going forward that time frames and dates given are met timely while considering the feasibility of the tech we are trying to deliver. The Nucleus team is currently working to coordinate with the project’s university research partners around their plans and timelines for new contributions to the ecosystem that align well for the network’s users and the Some details of the interoperability were answered in the last AMA so I would refer to that. If you want specifics then that will have to wait till the yellow paper is finished.
What differentiates Hcash from Wanchain? They’ve already finished development their main network and they’ve made a lot of progress in cross-chain technologies.
Cross-chain interoperability is a challenge for the ecosystem that many projects are helping resolve. There will be different solutions. We look forward to seeing more about their Locked Accounts and signature sharing. I don’t know what they’ll be doing about BTC/ UTXO based transactions. Our design will allow atomic swaps for BTC/ UTXO transactions into a quantum resistant addresses for security. ETH interoperability will work similarly, but our EVM will be built into our side-DAG rather than an ETH blockchain. Also, we will be using bridges and sidechains for other styles of chains like NEO or maybe VEN. Another thing we would like to see is existing projects on ETH build a port on our EVM so those smart contracts can communicate directly with each other, rather than just using relays.
Does all the HSR belong to the teams, the investment foundation, and the early investors have a lock-in period?
You would have to speak to the Hcash foundation directly if you have any questions about lock up periods or allocations related to HSR. These advising, testing and developing the codebase and technical roadmap.
Based on the roadmap, quantum resistant passwords, cross-platform token transfers, and PoW mining have all been completed. Is the present rate of progress coming along as outlined? Please explain the technological hazards that still exist.
With the main chain, quantum resistance and PoW mining available on launch. The cross-chain functions will be operational for the main chain with Lightning Network and other chains will be available with the side DAG. There are a number of technical hazards to work through with respect to compatibility and optimization and these things will take time to implement. A new roadmap and outline is due soon.
Hcash has reached an agreement with Qtum for low-level interoperable contracts. Will Hcash later have similar agreements or connections with other projects such as Ethereum, IOTA, NEO, etc?
We would love opportunity to work alongside other projects. Based on the structure of chains such as NEO, it probably would require some open lines of communication between our dev community and CoZ. ETH operates in a more transparent manner and interoperability with ETH is much easier to achieve. The ultimate goal is to be the glue between all these different projects and provide an ecosystem for the community to build off of.
How are small and big coin websites or varying sizes (Poloniex, Bittrex, and Binance) doing in terms of getting registered on South Korean trading platforms?
There may have been something lost in this question’s translation - try reaching out to those website’s support contacts? That is not something we are involved with.
Does Hcash want to make a base level public chain, or make it like bitcoin?
The Hcash main chain is meant to provide integrity for this interoperable network. PoW chains do a fantastic job of this because of the time and effort it requires to actually secure the blockchain.
 
Thank you to everyone who participated. Please stay tuned to our channels for more information regarding the main chain launch!
submitted by Mr_Handsome_Nucleus to hcash [link] [comments]

Clearing Up Misconceptions: My Guide to Transferring Money Out of China By Bank

(Crossposted to /China.)
There have been a lot of questions on here about transferring money to home countries on here and on /China . A lot of answers, while containing partial truths, have been misleading because they have mis-stated the rules. There's also a lot of information online that is obsolete or simply wrong. I want to clear up some of these misconceptions, because I also wasted a lot of time researching this when I first started.
As to my qualifications for this post, I always use the bank for my transfers, and I do it the proper way. I'll also explain why the proper way is better for my needs and why it may make sense for you as well.
First of all, know the following regulatory principles which apply regardless of which bank you use (I will later detail the rules which may be bank-specific):
  1. The regulations are that foreigners can convert either USD 500 per day OR the amount of after-China-tax income (for which there is the requisite documentary proof that tax has been paid). This is a limit on conversion, not transfer. That is to say, you can convert the money on many separate occasions, then transfer it all at once.
  2. The regulations for Chinese citizens are that each citizen can convert USD 50,000 each calendar year (barring special permission or approvals).
That's it. The reason there is so much misleading information online is that a lot of the other rules are region or bank specific. So your experience may differ wildly from others'.
Here is my specific experience (with China Construction Bank in Shanghai). In my experience, even different bank branches IN THE SAME CITY will demand wildly different documents. What I do is simply always go to the same large branch which actually processes the overseas transfers. For me, this is the one on Yuyuan Lu near the Jing'an Temple Metro. They are professional, fast, and consistent. In general, areas with more foreigners and/or richer people will do this service a lot better.
They ask for (and have given me written documentation showing this to be the bank's official requirements - so the other branches asking for other documentation are simply wrong, but of course refuse to admit it):
(These are the English terms the bank uses. The parenthetical annotations are my clarifications.)
  1. Passport
  2. Employment Permit (Brown Booklet)
  3. Tax List (Monthly Tax Receipt)
  4. Contract (Labor Contract. I also bring any additions to my labor contract showing salary increases and contract extensions.)
  5. Income Certification (This should be a letter from your HR or Finance department simply stating how much tax you pay every month and what your after-tax salary is every month. It should be on official company letterhead and have your company's or HR or Finance department's official chop.)
So, you may be saying that the above is a lot of trouble. In fact, it is. But I find it to have the following advantages, compared to other methods:
  1. Fees are reasonable. Paypal and Western Union fees are an order of magnitude higher than what you pay with most banks.
  2. Privacy. If you ask a Chinese national to transfer money for you, there is of course the risk that they simply steal the money. That's probably very unlikely if it is a person that you have good reason to trust, but I still don't ever want to tell anyone how much I make or how much money I have or imply it in any way. That's generally good practice and applies to this as much as it does to anything. You are also incurring a personal obligation by having them do this, and I'm not comfortable with it. After all, you are using up a big part of their annual limit that they have.
  3. Reasonably stable exchange rates, and decent exchange rates at the bank. Bitcoin is more expensive bought in RMB in China than it is sold in USD in the US partly because of currency controls, so by buying bitcoin in China, you incur the cost of this spread, as well as counterparty risk.
Hope this helps everyone.
(Also, your company may have the options of simply doing this international transfer for you automatically to your foreign bank account. If you are researching this question, I've assumed this isn't workable for you for one reason or the other.)
submitted by innerscorecard to shanghai [link] [comments]

Alright, so I run a small business in China - a Mandarin training center - and am curious about accepting Bitcoin. Any other merchants have any experience that they could share?

I do the finances for a Mandarin School in Shenzhen, China. We sometimes get payments in USD from people who come straight to Shenzhen for our program - these payments, in order to come back to us in RMB, usually need to go through a maze of paypal/private accounts.
I like the idea of bitcoin, but a big problem is there seems to be pretty much no one offering a decent rate for RMB. Now, I have no problem throwing a quote out there (basically a limit order) to do my small part to add liquidity to the market, seeing as we do have some liabilities (hosting, VPNs, web design) that need to be periodically paid out in USD.
So, a couple questions:
  1. I accept bitcoins and then convert them to USD in order to pay for things (once I have some bitcoin in my account I could then switch to hosting/VPN services that accept bitcoin). The best way to do this would be BitPay Personal US Bank Account Vendor? Or could BitPay convert the coins into USD and pay the vendor directly?
  2. Any other merchants have experience with this? How's the exchange rate risk?
  3. Given that I wouldn't be active at all, what would be the best bitcoin trading platform that I could just passively throw out that quote? Which platform deals the best with more obscure currencies like RMB?
Appreciate the time guys.
EDIT: Hmm... I just found this website - I should look into the legitimacy, but they can connect up with Zhifubao... rate is about RMB6.13 to USD1, pretty reasonable. Looks to be a pretty good way of converting RMB to USD, just need to see the fees.
submitted by mthmchris to Bitcoin [link] [comments]

NEM :: Descendant of Nxt - NEM - New Economy Movement

There is a new upcoming cryptocurrency called NEM
The author claims that this coin will have Completely Fair Distribution - Equal Shares for ALL
Link to main thread here: https://bitcointalk.org/index.php?topic=422129.0
NEM is likely to be a fork of Nxt code. I love NXT and I admire the brilliance and vision of NXT inventor BCNext. His idea of a decentralized world is beautiful and in that world we should have more forks of his work such as NEM.
NEM as a fork of NXT could have following features
NEM 100% Proof-of-Stake (PoS) currency. Coins are earned solely by charging transaction fees. Unlike other currencies with PoS mining, NEM's PoS mining does not cause monetary inflation. The total amount of NEM in circulation is 4 billion. NEM is resistant to +90% attacks via its transparent mining algorithm.
NEM improves different features of Bitcoin, removes some disadvantages (e.g. bloated blockchain) and resolves a big environmental issue. Time between blocks is one minute. This increases the rate of orphaned blocks, but makes it more convenient for the users.
NEM doesn’t use so-called “scripts” aka predicates. This simplifies and accelerates transaction processing. Advanced features like multisig will be created on top of the core as 3rd party services.
NEM is routable through Tor and I2P anonymous networks.
Some improvement over NXT could be possible:
Block Chain stored in database
Secure Wallet
Bitcoin like Addresses
Multi Precision arithmetic
NEM as a fork of NXT could have following features
How to join after page 50 (in main thread on Bitcointalk.org). Two ways
  1. Pay a fee to join in
    Send 80 NXT to the address 14343293611098709683 Send 0.008 BTC to the address 1Lk5Paws9T1YpoSeLeZT7ZeSQKW7UNq4TJ
    After you send the fee, include the transaction hash in your reply post in this thread, then you have reserved a stake spot. Donation is welcome but not necessary
  2. Show support to NEM to join in still the same as we need some more marketing effort.
The fee to join in will double after 10 pages in this thread. So the fee will double after page 60 to 160 NXT and 0.016 BTC.
When the fee exceeds 100 NXT or 0.01 BTC, the fee will move up on a linear scale instead.
submitted by PabloAngello to CryptoCurrency [link] [comments]

Currency Exchange Rates - How To Convert Currency USD-RMB Exchange Rate Bitcoin Exchange - Bitcoin Exchange Rate - Video Chinese Renminbi, Yuan Exchange Rates 25.01.2019 ...  Currencies and banking topics #43 US Dollar (USD) Currency and Bitcoin Exchange Rates

Convert 100 US Dollar to Chinese Yuan using latest Foreign Currency Exchange Rates. ... currency converter & calculator ensures provding actual conversion information of world currencies according to “Open Exchange Rates” and provides the information in its best way. 200 USD to CNY 300 USD to CNY ... Bitcoin price index https: ... This Bitcoin and Chinese Yuan convertor is up to date with exchange rates from September 23, 2020. Enter the amount to be converted in the box to the left of Bitcoin. Use "Swap currencies" to make Chinese Yuan the default currency. Click on Chinese Yuan Renminbi or Bitcoins to convert between that currency and all other currencies. Get free live rates for your favorite currency pairs at DailyForex. Keep track of the latest market movements for major and exotic pairs in one place. ... EUR-USD, USD-JPY, GBP-USD, USD-CHF, USD-CAD, AUD-USD, Bitcoin-USD, Gold, Crude Oil. All Currencies. Commodities. Indices. Forex Brokers. Convert RMB to USD using live Foreign Currency Exchange Rates. ¥ Chinese Yuan Renminbi to US Dollar $ conversion online. ... To add RMB to USD #widget to your website, you simply need to copy the code below and paste it into the desired position in your websites HTML source code. Bitfinex Buy Bitcoin . Hong Kong-based Bitfinex has long been one of the largest USD Bitcoin exchanges in the world. Bitfinex accounts may be funded by bank wire only, their fee on accepting such transfers is low at only 0.1%.

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Currency Exchange Rates - How To Convert Currency

This finance video tutorial explains how to convert currency from one unit into another given the currency exchange rate. Here is a list of topics: 0:00 - Ho... Exchange Rates of the Chinese currency Renminbi, Yuan... United States Dollar (USD) to Renminbi or Yuan (RMB, CNY) … United Arab Emirates Dirham (AED) to Renminbi or Yuan (RMB, CNY)… Information Source: "Bank Of China" United States Dollar (USD) to Renminbi (RMB) … United Arab Emirates Dirham (AED) to Renminbi (RMB)… Brazilian Real (BRL) to Renminbi (RMB)… Exchange Rates Of The Chinese Renminbi, Yuan 15.02.2018 ... Currencies and banking topics #21 - Duration: 0:44. BusinessMediaguide.Com 18,809 views Hello friends, welcome to my Youtube channel, whose name is online Jaidev, here I will give you information about the price of all these things related to fr...

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