How emerging technologies are shaping the future of the global economy

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The world is on the cusp of a digital revolution, with innovation disrupting the way we do everything from using devices and tools to conducting financial transactions.

New asset classes

The digital economy is growing at a rapid rate all over the world. The current digital economy is characterized by the creation of new asset classes and the digitization of traditional assets. Emerging technologies, such as blockchain, artificial intelligence (AI), Internet of Things (IoT), and 3D printing are playing a pivotal base in supporting this growth.

New technologies feature assets that have the potential to dominate the global economy in the future. For example, blockchain contains virtual currencies and tokens that have grown in popularity dramatically in a short period of time.

Big players enter the game

Blockchain enables users to conduct transactions much safer and faster than traditional methods. Blockchain features have attracted several notable technology and financial companies, including IBM, Oracle, JP Morgan Chase, and Boeing. For example, IBM recently teamed up with Stronghold, a financial technology company, to launch a dollar-backed cryptocurrency called Stronghold USD. This virtual currency is an example of how consumer confidence can be used in a traditional asset (the US dollar fiat currency in this case) to support digital assets.

There are also examples where companies are combining two new technologies to provide solutions for the future. Space giant Boeing recently announced its collaboration with artificial intelligence company SparkCognition to develop blockchain traffic management solutions for unmanned aerial vehicles.

Game changer

Asset coding is not limited to traditional assets such as currencies. The new market can leverage the intrinsic value of a variety of assets to provide security tokens. Blockchain can be a differentiating factor between security tokens and traditional securities. Using smart contracts on the blockchain eliminates the need for a middleman, thus reducing transportation costs. The usability of this blockchain has the potential to greatly influence the traditional banking system. It might also eliminate the need for money as a medium stock exchange, as all assets are liquid, immediately available, and divisible.

Automation and artificial intelligence have already made their mark in many markets. Trading algorithms have surpassed human traders. In the manufacturing sector, machines have taken over many jobs previously performed by humans.

The need for a new tire

In this rapidly changing economy, traditional models and methods of decision-making can no longer be relied upon. To keep up with new developments, such as DAO, AI, VR, P2P and M2M, it is imperative that we develop a new framework. In other words, we need to go beyond Munger’s mental models and focus on digital models, such as network theories and exponential growth models.

The digitization of our economy is happening at a fast pace. Over time, we will gain a clearer picture of the developments that will dominate this new Web 3.0 economy, but it is clear that this economic revolution is taking place on a global scale.

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Central banks, the financial system, and money formation (and deficits)

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In a market economy, the financial system gives money from positive savers (i.e., depositors) to passive savers (i.e. people who are short of funds and need loans to purchase real estate, etc.). Moreover, financial systems facilitate cashless payments. From individuals or legal entities.

The financial system has a monopoly on services under the law. Only banks can accept deposits, only insurance companies can provide insurance services and mutual funds can be better managed with a large bank rather than an individual investor.

How is money created

In the past, one of the reasons for the power of the ancient Greek states was the ability to create their own currency. In the time of Pericles, the silver drachma was the reserve currency of the era. The same applies to the gold coin of the Philip from Macedonia. Each of these coins could have been exchanged for a certain amount of gold.

Nowadays, the Fed creates the US dollar and the euro from the European Central Bank, which are both paper money i.e. money without intrinsic value that has been identified as real money by government regulations, and therefore, we have to accept it as real money. Central banks trade coins and paper money in most countries representing only 5% -15% of the money supply, the rest being virtual money, and enter accounting data.

Depending on how much money central banks create, we are in crisis or have economic development. It should be noted that central banks are not government banks but private companies. Countries gave the right to issue money to private bankers. In turn, these private central banks lend the states at interest and, thus, have economic and of course political power. The paper money in circulation in a country is in fact public debt, that is, the countries owe money to private central banks and the repayment of this debt is ensured by issuing bonds. The guarantee that the government gives private central bankers to pay off debts is taxes imposed on the people. The higher the public debt the higher the taxes, the more the common people will suffer.

The heads of these central banks cannot be dismissed by the governments nor do they report to the governments. In Europe, they report to the European Central Bank, which determines the monetary policy of the European Union. The European Central Bank is not under the control of the European Parliament or the European Commission.

The state or the borrower issues bonds, in other words, accepts that they have an equal amount of debt to the central bank which on the basis of this acceptance builds money from scratch and lends it at interest. This money is loaned through the accounting entry, however, the interest rate is not present as money in any way, it is only on the obligations of the loan contract. This is the reason why global debt is greater than real or accounting debt. Therefore, people become slaves because they are forced to work to obtain real money to pay off debts, whether public or individual debts. Very few of them managed to pay off the loan, but the rest went bankrupt and lost everything.

When a country has its own currency, as is the case in the United States and other countries, it can “compel” the central bank to accept state bonds and lend the state at interest. Therefore, state bankruptcy is avoided because the central bank acts as the lender of last resort. The European Central Bank is another case because it does not lend to the member states of the Eurozone. The lack of safe European bonds leaves the eurozone countries at the mercy of the “markets” that, through their fear of not getting their money back, are charging high interest rates. However, European safe bonds have recently gained gains despite differences in European policymakers, while the Germans are the main reason for the lack of such bonds as they do not want national commitments to be single European liabilities. There is also another reason (perhaps the most risky) that by owning this bond the euro will be devalued as a currency and the interest rates on borrowing in Germany will rise.

In the United States, things are different because the country borrows its own currency (the US dollar) from the Federal Reserve, so the local currency is devalued and thus the value of the state’s debt is reduced. When the currency is devalued, the products of a country become cheaper without lowering wages but the imported products become more expensive. A country with a strong primary (agricultural) and secondary (industrial) sector can become more competitive by owning its own currency provided it has its own energy sources, i.e. it must have sufficient energy. Banks with deposits ranging from $ 16 million to $ 122.3 million have reserve requirements of 3%, and banks with deposits in excess of $ 122.3 million have reserve requirements of 10%. Therefore, if all the depositors decide to take their money from the banks at the same time, the banks will not be able to give it to them and the bank is established. At this point, it should be noted that for every US dollar, euro, etc. deposited in a bank, the banking system creates and lends ten. Banks create money every time they make loans, and the money you create is money that appears on your computer screen, not real money in the vault of the bank that lends it to. However, the bank lends virtual money but gets real money plus interest from the borrower.

As Professor Mark Job mentioned, no one can escape paying interest rates. When a person borrows money from the bank, he / she has to pay interest rates for the loan, but whoever pays taxes and buys goods and services pay the interest rate to the primary borrower as the taxes have to be collected to pay the interest rates on the loan. Public debt. All companies and individuals selling goods and services are required to include the cost of loans in their rates and in this way the whole society supports the banks even though part of this subsidy is given as an interest rate to depositors. Professor Mark Job continues and writes that the interest rate paid to the banks is a relief to them because the legal / accounting money they create is legal money. This is the reason why bankers have such large salaries and that is why the banking sector is so huge, because society supports the banks. In terms of interest rates, the poor usually have more loans than savings while the rich have more savings than loans. When interest rates are paid, money is transferred from the poor to the rich and, therefore, the interest rates are favorable for wealth accumulation. Commercial banks earn from investments and from the difference between deposit interest rates and loan interest rates. When the interest rate is added regularly to the initial investment, it brings more interest due to the presence of compound interest that greatly increases the initial capital. Real money is not increased per se because this rate of interest is not derived from output. Only human labor can create an interest rate of increasing value but there is downward pressure on the cost of salaries and at the same time increase productivity. This happens because human labor needs to satisfy exponentially increasing demands of compound interest.

The borrower has to work to get the real money, in other words, banks lend virtual money and get real money in return. Since the loaned funds are larger than the real money, banks must create new money in the form of loans and credits. When they increase the amount of money, there is growth (however, even in this case with the increase in the specific banking and monetary system debt) but when they want to create a crisis, they stop making loans and due to lack of money so many people go bankrupt and depression begins.

This is a “smart trick” devised by bankers who have noticed that they can lend more money than they have because depositors will not take their money in full and at the same time from the banks. This is called fractional bank reserve. Quickonomics’s definition of fractional reserve banking is as follows: “A fractional reserve banking system is a banking system in which banks keep only a fraction of the money that their customers deposit as reserves. This allows them to use the rest to make loans and thus essentially create new cash. Commercial has the ability to directly influence the money supply. Indeed, although central banks are responsible for controlling the money supply, most money in modern economies is created by commercial banks through fractional reserve banks.

Are savings protected?

In the case of Italian debt as in the case of Greek debt, we have heard from politicians (employees who are already paid by bankers) that they want to protect people’s savings. However, are these savings protected in this monetary and banking system? The answer is simple no. As mentioned, banks have low cash reserves. This is why they need the trust of their customers. If there is a bank, they will run into liquidity problems and go bankrupt. There are deposit guarantee schemes that, under European Union rules, protect depositors ’savings by guaranteeing deposits of up to 100,000 euros, but in the case of chain reactions, commercial banks need to be saved by governments and central banks acting as lenders to the latter. Shelter.

What’s Next?

The economic system shaped by the power of the banks is not viable and does not serve human values ​​such as freedom, justice and democracy. It is illogical and must be changed immediately if humanity is to survive.

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How to start your own online forex signals business

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Forex trading is becoming increasingly popular among retail traders. Every day we see advertisements on TV and on the Internet. The truth is, Forex trading is not an easy task and it is very evident for those who have been trading currencies for at least a few months. Everyone will agree that it is difficult to fight the huge foreign exchange market. It is also more difficult to make money in long-term forex trading. This is why 95% of Forex traders struggle to find a “Holy Grail” trading system, Forex Robot or Forex Signal Service that will make money in the long run. If you have a profitable business experience, you can sell it to people. Having your customers will give you more returns you can imagine. Making a mini forex signal website with only 10 clients paying a small monthly fee of $ 100 will generate you $ 1000 profit every month. Get yourself 100 clients and have an income of $ 10,000 each month. Yes, this is simple. You can define monthly, weekly, or even daily recurring payments.

Although it is not difficult to start your own forex signal business, you will still need to do some work and make some money. The first thing you will need is a special program that can send Forex trades to your clients. Fortunately, there are many ready-to-use software available online and you can purchase an unlimited license at any time. Now be wise and careful when choosing a delivery program for your forex trading. These programs should come with the dashboard’s website where you and your clients can log in to manage their profile information and their trading settings. Client side software usually has one account locked so your signals will be protected. The client will be able to use the software and receive trading signals for only one account. Usually the program will lock automatically on first run, but customer can easily lock it to another account if needed. However, he / she can only use the software on one account.

Trades are delivered to client accounts in one second, and this ensures that the entry price is the same. There will still be rare instances where the entry or exit price will be different, of course, but this is out of our control. This happens due to the various spreads, slippages, bids and delays between the Forex brokers. Although the best solution is to use the same broker for the main and affiliate accounts, the program allows you to use any broker and is not limited to the type of account. The software should work on any account including ECN, STP, Dealing Desk, and 4-digit and 5-digit brokers. The program should automatically adapt to the main or affiliate account it is running on.

The best thing about this is that you can connect your forex signals website to a payment processor or of your choice using special plugins. Supports the most popular payment processors like PayPal, ClickBank, Plimus, and Click2Sell. These plugins will allow you to automatically handle your payments every month. This way you won’t need any human intervention to run your business. Once the new customer signs up for your website, he / she will receive a welcome message containing the login information and the download link. This allows you to start using the program and receive new deals in minutes.

Your main account should automatically start sending trading signals when clients pay a subscription fee. They are usually billed automatically every month until the subscription is canceled, and when they run the client program on their account, they will start receiving Forex signals automatically. So there’s no need for human intervention, and when you make money, your customers also earn money.

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A Beginner’s Guide to Owning a Cryptocurrency Bitcoin

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Bitcoin Cryptocurrency is spreading all over the world, whether you are on the Internet or any medium. It’s one of the craziest and most exciting things that have only happened in the last few years. Most importantly, you can earn an amazing return by trading bitcoins or you can hold them for the long term.

You may have heard of stocks, commodities, forex, and now a new currency called Bitcoin Trading that greatly impacts our lives. In this beginner’s guide to bitcoin cryptocurrency, you’ll learn about Bitcoin’s ABC.

About Bitcoin cryptocurrency

The emergence of Bitcoin is still unknown but a paper was published in October 2008 under the pseudonym Satoshi Nakamoto taken from Japan. His identity remains unknown and he is believed to have nearly 1 million Bitcoins valued at over $ 6 billion USD as of September 2017.

Bitcoin is a digital currency popularly known as cryptocurrency and is devoid of any geographic boundaries. It is not regulated by any government and all you need is an internet connection. As a beginner, Bitcoin technology can confuse you and be a little difficult to figure out. However, I will help you deepen it and how you can also make your first Bitcoin trade with ease.

Bitcoin Cryptocurrency runs on blockchain technology which is a digital general ledger and is shared by anyone in the world. You will find your transactions here whenever you do any Bitcoin trading and anyone can use the ledger to verify this. The transaction made will be completely transparent and verified by the blockchain. Bitcoin and other cryptocurrencies are parts of the blockchain and are great internet-only technology.

Key Terms Related to Bitcoin Cryptocurrency

Before you are ready to own your first Bitcoin, it is best to know the basic terms related to Bitcoin. Also called BTC, it is a fraction of Bitcoin and 1 bitcoin equals 1 million bits. With the advent of Bitcoin, some other alternative cryptocurrency has also evolved. They are popularly called Altcoins and include Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Monero (XMR), and many more.

XBT and BTC are the same things and are usually shortened to Bitcoin. Mining is another frequently used term that is actually a process performed by computers for Bitcoin networks.

Things you can do with Bitcoin

You will be able to trade, accept, and store Bitcoin and its transactions. You can send it to your friends, request it from a friend, and store it in your digital wallet. Even, you can now top up your mobile / DTH balance directly by paying with Bitcoin.

The transaction cost is low compared to PayPal, credit cards, and other online brokers. Moreover, it protects your privacy that may be leaked on the Internet while using credit cards. It is very safe and no one can grab or steal the coins. Due to its transparency in the system, it also cannot be tampered with due to the common general ledger. You can check the transaction from anywhere, anytime.

Demand is likely to rise because total bitcoin production will be limited to just 21 million. Japan has already legalized it and other countries may soon follow and the price may rise further.

I will be covering more about Bitcoin in detail in the coming days as you will learn cool things about Bitcoin trading. You can comment on your opinions and ask for anything bitcoin-related.

If you find this beginner’s guide about Bitcoin Cryptocurrency useful, share and like it on social networks.

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Decentralized Finance (DeFi) on Ethereum: The Future of Finance?

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Decentralized finance, or “DeFi”, has taken over the world of cryptocurrencies and the blockchain. However, its recent re-emergence masks its roots in the bubble era of 2017. While everyone and their dog were running an ICO or ICO, a few companies saw the potential of blockchain far beyond rapid gains in price. These pioneers envision a world in which financial applications from trading to savings to banking to insurance are simply possible on the blockchain without any middlemen.

To understand the potential of this revolution, imagine having access to a savings account that generates 10% annually in US dollars but without a bank and practically without financial risk. Imagine you can trade crop insurance with a farmer in Ghana sitting in your office in Tokyo. Imagine being able to become a market maker and earn the percentage fee that each castle wants. Sounds too good to be true? it’s not like that. This future is already here.

The building blocks of DeFi

There are some basic building blocks of DeFi that you should know before moving forward:

  • Automated market making or the exchange of one asset for another without a broker or clearinghouse.

  • Excessive lending or the ability to “use your assets” for traders, speculators and long-term contract holders.

  • Stable currencies or algorithmic assets that track the price of an asset without being centralized or backed by a physical asset.

Understand how DeFi is made

Stable currencies are used frequently in DeFi because they mimic traditional fiat currencies like the US dollar. This is an important development because the history of cryptocurrencies shows just how volatile things can be. Stable currencies like the DAI are designed to track the value of the US dollar with slight deviations even during strong bear markets, that is, even if the cryptocurrency price collapses like a bear market in 2018-2020.

Lending protocols are an interesting development that is usually built on top of stablecoins. Imagine if you could reserve your million dollar assets and then borrow from them in stable currencies. The protocol will automatically sell your assets if you do not pay off the loan when your guarantees are no longer sufficient.

Automated market makers form the basis of the entire DeFi ecosystem. Without that, you are stuck in the old financial system where you need to trust a broker, clearinghouse, or exchange. Automated market makers, or AMMs for short, allow you to trade one asset for another based on the reserves of each of the assets in their pools. Price discovery occurs by external arbitrage. Liquidity is pooled based on other people’s assets and they get access to trading fees.

You can now learn about a variety of assets all in the Ethereum ecosystem without having to interact with the traditional financial world. You can make money by lending assets or being a market maker.

For the developing world, this is a great innovation because they now have access to a full range of financial systems in the developed world without any barriers to entry.

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Virtual currency games

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Every little kid (and many big men) dream of earning a living by playing video games is close to reality. The latest release of HunterCoin and VoidSpace under development, games that reward players with cryptocurrency rather than virtual princesses or gold stars, point to a future in which an individual’s rating on the scoreboard can be rewarded in dollars, pounds sterling, euros and yen.

The story of a millionaire real estate agent (hypothetical) …

Cryptocurrencies are slowly gaining maturity in terms of their functionality and the financial infrastructure that enables them to be used as a reliable alternative to non-virtual fiat currency. Although Bitcoin, the first and most popular cryptocurrency was created in 2009, there have been forms of virtual currency in use in video games for more than 15 years. Ultima Online of 1997 was the first notable attempt to integrate a large-scale virtual economy into a game. Players can collect gold coins by doing missions, fighting monsters, finding treasure and spending it on armor, weapons or real estate. This was an early embodiment of a virtual currency in that it was completely in-game even though it reflected real-world economies to the extent that the Altima coin was subjected to inflation as a result of the game’s mechanics that ensured there was an endless supply of killing monsters and thus collecting gold coins.

EverQuest was released in 1999, and took the cryptocurrency game a step further, allowing players to trade virtual goods among themselves in-game, although the game’s designer also banned selling virtual items to each other on eBay. In a real-world phenomenon pleasantly explored in Reamde’s 2011 novel by Neil Stephenson, Chinese players or “gold farmers” are hired to play EverQuest and other similar games full-time with the goal of gaining experience points to upgrade their characters, making them more powerful and desirable. These characters will then be sold on eBay to Western players who are unwilling or unable to set aside hours to upgrade their characters. Based on the calculated exchange rate for EverQuest coin as a result of the real-world trading that occurred, Edward Castronova, a professor of communications at Indiana University and an expert in virtual currencies, estimated that in 2002, EverQuest was ranked 77th in the richest country in the world, somewhere between Russia And Bulgaria’s per capita GDP is greater than the People’s Republic of China and India.

Second Life was launched in 2003 and reached 1 million regular users by 2014, and is perhaps the most complete example of a virtual economy so far where a virtual currency can be used, the Linden Dollar that can be used to buy or sell goods and services within the game is exchanged for real-world currencies via exchanges. Market-based. $ 3.2 billion in in-game transactions were recorded for virtual goods in the ten years between 2002-13, Second Life became a marketplace where players and companies alike were able to design, promote, and sell the content they created. Real estate was an especially lucrative commodity to trade in, in 2006 Eileen Gref became the first millionaire on Second Life when she converted an initial investment of $ 9.95 into more than $ 1 million over a period of 2.5 years by buying, selling, and trading virtual real estate for other players. Examples like Ailin are the exception to the rule however, only 233 registered users make more than $ 5,000 in 2009 Second Life activities.

How to be paid in dollars for asteroid mining …

Until now, the ability to generate non-virtual cash in video games has been of secondary design, where the player has to go through unauthorized channels to exchange virtual spoils or possess a degree of real-world creative skills or commercial acumen that can be traded for cash. This could change with the advent of video games that are built from the ground up around the “plumbing” of well-known cryptocurrency platforms. HunterCoin’s approach is to “skew” what is usually the technical and automated process of creating a digital currency. Unlike real-world currencies that come into existence when printed by a central bank, digital currencies are created by being “mined” by users. The primary source code for a particular digital currency that allows it to function is called the blockchain, which is the decentralized online general ledger that records all transactions and currency exchanges between individuals. Since digital currency is nothing more than intangible data, it is more vulnerable to fraud than physical currency, as it is possible to duplicate a unit of currency, causing the transaction to inflate or change the value of the transaction after it is made for personal gain. To ensure that this does not happen, the blockchain is “ monitored ” by volunteers or “ miners ” who test the validity of every transaction made with the help of specialized hardware and software ensuring that the data is not tampered with. This is an automatic process for the miner program albeit very time consuming and involves a great deal of processing power from their computers. To reward a miner for verifying a transaction, the blockchain issues a new unit of digital currency and rewards them with it as an incentive to maintain the network, thus creating the digital currency. Because it can take anything from several days to years for an individual to successfully mine coins, groups of users pool their resources into a mining “pool”, using the combined processing power of their computers to mine the coins more quickly.

The HunterCoin game is located inside the blockchain of a digital currency also called HunterCoin. The process of playing the game replaces the automated process of mining digital currency and for the first time makes it a manual process without the need for expensive hardware. Using strategy, time and teamwork, players venture out on the map in search of coins, find some and safely return to their base (there are other teams trying to stop them and steal their coins) they can exchange their coins by depositing into their own digital wallet, usually an app designed to conduct Digital payments and receiving. 10% of the value of any coins deposited by players goes to miners who maintain the HunterCoin blockchain plus a small percentage of any coins are lost when the player is killed and their coins are toppled. While the game’s graphics are basic, the important rewards take time to accumulate, HunterCoin is an experience that can be considered the first video game with built-in monetary reward as a primary function.

Although still in development, VoidSpace is a more polished approach to gaming in a lean economy. A multiplayer online role-playing game (MMORPG), VoidSpace is set in space as players explore an ever-growing universe, counting natural resources like asteroids and trading them for goods with other players with the goal of building their galactic empire. Players will be rewarded for mining at DogeCoin, a more established form of digital currency that is currently widely used for micro-payments on various social media sites. DogeCoin will also be a currency for in-game commerce between players and a means of making in-game purchases. Like HunterCoin, DogeCoin is a legitimate fully functional digital currency, and like HunterCoin it can be traded for both digital and real currencies on exchanges like Poloniex.

The future of video games?

Although they are early days in terms of quality, the release of HunterCoin and VoidSpace is an interesting indicator of what could be the next evolution of gaming. MMORPG is currently seen as methods of modeling epidemic outbreaks as a result of how player reactions to an unintended plague are recorded on aspects that are difficult to model for human behavior in real-world outbreaks. It can be speculated that ultimately, in-game virtual economies can be used as models to test economic theories and develop responses to massive failures based on observations of how players use real-value digital currency. It is also a good test of the functionality and potential applications of cryptocurrencies that promise to move beyond mere exchange tools to, for example, exciting areas of personal digital ownership. Meanwhile, players now have the means to translate clocks in front of the screen into digital currency and then the dollar, sterling, euro or yen.

But before you quit your day job …

… it is worth noting the current exchange rates. It is estimated that a player can comfortably recover the initial registration fee of 1,005 HunterCoin (HUC) to join the HunterCoin game in a one-day game. Currently HUC cannot be exchanged directly for US dollars, one must convert it to a more established digital currency such as Bitcoin. At the time of writing, the exchange rate for HUC to Bitcoin (BC) is 0.00001900 while the exchange rate for BC to USD is $ 384.24. 1 HUC is traded to BC and then into USD, before any transaction fees are taken into account, it will equal … $ 0.01 USD. This does not mean that when the player becomes more skilled because he cannot grow his team from virtual CoinHunters and may use some “bots” that will automatically play the game under the guise of another player and earn coins for them as well. But I think it’s safe to say that for now, even efforts like this may only realistically lead to enough change for the daily McDonald’s. Unless players are willing to serve intrusive in-game ads, share personal data, or join a game like CoinHunter based on the Bitcoin blockchain, the rewards are unlikely to be more than small payments to the average player. And maybe that’s a good thing, because surely if you paid for something, it wouldn’t be a game anymore?

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Are you planning to trade the Monero cryptocurrency? Here are the basics to get you started

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One of the fundamental principles of blockchain technology is to provide users with unwavering privacy. Bitcoin as the first decentralized cryptocurrency relied on this premise to market itself to a wider audience who at the time needed a virtual currency free from government interference.

Unfortunately, along the way, Bitcoin has proven to be riddled with many vulnerabilities including its lack of scalability and the changeable blockchain. All transactions and addresses are written on the blockchain making it easy for anyone to connect points and reveal users’ private details based on their current records. Some government and non-government agencies are already using blockchain analytics to read data on the Bitcoin platform.

These flaws led developers to research alternative blockchain technologies while improving security and speed. One of these projects is Monero, usually represented by the XMR tape.

What is Monero?

Monero is a privacy-oriented cryptocurrency project whose main goal is to provide better privacy than other blockchain ecosystems. This technology protects user information with anonymous addresses and ring signatures.

The hidden address refers to the creation of a single address for a single transaction. Two addresses cannot be installed in one transaction. The received coins go to a completely different address making the whole process unclear to an outside observer.

On the other hand, circular signature refers to mixing account keys with public keys thus creating a “ring” of multiple signers. This means that the monitoring agent cannot associate a signature with a specific account. Unlike cryptography (the mathematical method for securing cipher projects), ring signature is not a new kid on the block. Its principles were explored and recorded in a 2001 paper by the Weizmann Institute and the Massachusetts Institute of Technology.

Sure, cryptography has won the hearts of many developers and blockchain enthusiasts, but the truth is that it is still an emerging tool with few uses. Since Monero uses already tested Ring Signing technology, it has distinguished itself as a legitimate project worth adopting.

Things to know before starting Monero trading

Monero Market

The Monero market is similar to the other cryptocurrency market. If you want to buy it, Kraken, Poloniex, and Bitfinex are a few of the exchanges you can visit. Poloniex was the first to adopt it, followed by Bitfinex and finally Kraken.

This virtual currency appears mostly pegged to the dollar or against other cryptocurrencies. Some of the available pairs include XMR / USD, XMR / BTC, XMR / EUR, XMR / XBT, and many more. The volume and liquidity of this coin score very good stats.

One of the good things about XMR is that anyone can participate in mining either as an individual or by joining a mining pool. Any computer with good processing power can mine Monero blocks with a few hiccups. Don’t bother going to ASICS (Application Integrated Circuits) which are currently mandatory for Bitcoin mining.

Price fluctuation

Although it is a formidable cryptocurrency network, it is not very distinctive when it comes to volatility. Almost all digital currencies are extremely volatile. This should not worry any avid trader as this factor is what makes it profitable in the first place – you buy when prices are low and sell when you are in an uptrend.

In January 2015, the XMR was at $ 0.25, then it made some jogging to $ 60 in May 2017 and is currently running above the $ 300 mark. The Monero coin ATH (all-time high) hit $ 475 on Jan.7 before it began declining along with the other cryptocurrencies to $ 300. At the time of writing, virtually all decentralized currencies are in the stage of a price correction with Bitcoin hovering between $ 10-11K from the glorious $ 19,000 ATH.

Innate and dependence

Thanks to its ability to provide reliable privacy, XMR has been approved by many people making its coins easily exchangeable for other currencies. In simple terms, Monero can easily be traded for something else.

All Bitcoins are registered with the Bitcoin Blockchain, thus, in the event of an accident such as theft, every coin in question will be avoided making it non-exchangeable. With monero, you cannot distinguish one currency from the other. Therefore, no seller can refuse any of them as it is related to bad accident.

The Monero blockchain is currently one of the most popular cryptocurrencies with a large number of followers. Like most other blockchain projects, its future looks great although a government crackdown looms on the horizon. As an investor, you need to do your due diligence and research before trading any cryptocurrency. Where possible, seek help from financial experts in order to get on the right path.

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Why wouldn’t there be another Bitcoin

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Well, it has been 10 crazy years for Bitcoin. In fact, it’s been more than 10 years since Bitcoin was first created by Satoshi Nakamoto. Whatever, he, she or they were, they had a profound effect on the world. Undoubtedly, they expected this to be the reason they chose to disappear from the spotlight.

More than a decade later, Bitcoin is still alive and stronger than ever. Thousands of other cryptocurrencies have appeared since they all tried to imitate the king of Crypto. Everyone has failed and will continue to fail. Bitcoin is one type. Something that cannot be replicated. If you don’t know why, let me explain it to you.

If you don’t know what bitcoin is, I’ll just give you some brief key points:

  • Bitcoin is a cryptocurrency on the Internet

  • It has a maximum width of 21 million

  • It cannot be faked

  • Not all currencies are in circulation yet

  • It is completely decentralized without anyone controlling it

  • Cannot be monitored

  • It is peer-to-peer money

  • Anyone can use it

  • Bitcoin has a steady supply that decreases every 4 years

What makes Bitcoin different?

So what makes Bitcoin different from the thousands of other currencies that have been invented since then?

When Bitcoin was first invented, it slowly began to spread among a small group of people. Grown organically. When people started seeing the benefits of Bitcoin and how the price would rise due to the steady supply, it started growing faster.

The Bitcoin blockchain is now spread across hundreds of thousands of computers worldwide. It has spread outside the control of any government. Its creator has disappeared and is now operating independently.

Developers can upgrade and improve the Bitcoin network but this has to be done unanimously across the entire Bitcoin network. Bitcoin cannot be controlled by one person. This is what makes Bitcoin so unique and impossible to replicate.

There are thousands of other cryptocurrencies available now but as an example of what makes Bitcoin different, I’ll use Ethereum as an example. It is one of the largest alternative coins at the moment and has been since it was invented by Vitalik Buterin in 2015.

Vitalik controls the Ethereum blockchain and has the final say on any development that takes place on the Ethereum.

Censorship and government interference

In this example, let’s imagine Iran sending billions of dollars to North Korea to fund its new nuclear program. This is not a good position but it should show you how much more secure your money is in Bitcoin!

Anyway .. first example. Iran uses the standard banking system and transfers these funds to North Korea in US dollars. The US government says, wait a minute, we need to freeze these transactions and confiscate the money … Easy. They do it right away and the problem is gone.

The second example. The same thing happens again, but this time Iran is using the Ethereum blockchain to send money to North Korea. The United States government sees what is happening. A phone call has been made.

Get Vitalik Buterin here now

The US government is “putting some pressure” on Vitalik, getting it to back off the blockchain and cancel Iranian transactions. (The Ethereum blockchain had already been undone before when a hacker stole a large amount of money.)

The problem has been resolved. Unfortunately, it will destroy the reliability of Ethererum along with its price.

Ethereum is just an example, but it is true for every other cryptocurrency.

Bitcoin cannot be stopped

So the same thing happens again. This time, Iran is using Bitcoin as a payment method. The United States government sees this and is unable to stop it.

There is no one to call. There is no one to press on. Bitcoin is out of censorship.

Every other cryptocurrency has been created by someone or a company and this will always be the point of failure. Still central.

Another example is that if the Vitalik family is taken hostage … Bitcoin goes beyond anything and that is why it is the safest investment on the planet.

Find out how to use Bitcoin

Everyone should have some bitcoin. Not without risk though. If you are new to Bitcoin, you should learn as much as you can before investing any money. Owning Bitcoin comes with a lot of responsibilities. Find out how to use Bitcoin safely.

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Thinking about investing? Think Bitcoin

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What is Bitcoin?

If you’ve been here, you’ve heard of Bitcoin. It’s been one of the biggest recurring headlines over the past year or so – as a blueprint for get-rich-quick, the end of financing, the birth of a true international currency, the end of the world, or as a technology the world has improved. But what is Bitcoin?

In short, you could argue that Bitcoin was the first decentralized money system to be used for online transactions, but it would potentially be worth delving deeper.

Generally speaking, we all know what “money” is and what it is used for. The most important problem the use of money has seen before Bitcoin is that it is centralized and controlled by a single entity – the central banking system. Bitcoin was invented in 2008/2009 by an unknown creator who used the pseudonym “Satoshi Nakamoto” to decentralize money on a global scale. The idea is that currency can be traded over international lines without difficulty or fees, checks and balances will be distributed around the world (rather than just corporate or government ledgers), and money will become more democratic and affordable for everyone on an equal footing.

How did Bitcoin start?

The concept of bitcoin and cryptocurrencies in general was started in 2009 by Satoshi, an unknown researcher. The reason for its invention was to solve the problem of centralization in the use of money dependent on banks and computers, a problem that many computer scientists were not happy with. Decentralization has been attempted since the late 1990s without success, so when Satoshi published a paper in 2008 presenting a solution, it was most welcome. Today, Bitcoin has become a familiar currency to Internet users and has led to the emergence of thousands of “ altcoins ” (cryptocurrencies other than Bitcoin).

How is Bitcoin made?

Bitcoin is made through a process called mining. Just like paper money is made by printing, and gold is extracted from the ground, Bitcoin is created by ‘mining’. Mining involves solving complex mathematical problems related to blocks using computers and adding them to the general ledger. When it started, a simple CPU (like the one on a home computer) was all you needed to mine, however, the difficulty level has increased dramatically and you will now need specialized hardware, including high-end graphics processing units (GPUs) Bitcoin extraction.

How do I invest?

First, you have to open an account using a trading platform and create a portfolio; You can find some examples by searching Google for “Bitcoin Trading Platform” – it generally has names that include “currency” or “market”. After joining one of these platforms, you click on assets, then click on crypto to choose the currencies you want. There are a lot of indicators on each platform that are very important, and you should make sure to note them before investing.

Simply buy and hold

While mining is somehow the surest and simplest way to earn Bitcoin, there is a lot of hustle and bustle, the cost of electricity and specialized computers makes it unavailable to most of us. To avoid all of this, make it easy for yourself, enter the amount you want directly from your bank and click “Buy”, then sit back and watch as your investment increases according to the price change. This is called an exchange and is done on the many exchange platforms available today, with the ability to trade between many different fiat currencies (USD, AUD, GBP, etc.) and different cryptocurrencies (Bitcoin, Ethereum, Litecoin, etc.).

Bitcoin trading

If you are familiar with stocks, bonds or Forex exchanges, you will easily understand trading cryptocurrencies. There are Bitcoin brokers such as Online Social Trading, FXTM market.com and many other brokers that you can choose from. The platforms provide you with Bitcoin-fiat or fiat-Bitcoin currency pairs, for example BTC-USD means to trade Bitcoins against the US dollar. Monitor price changes to find the ideal pair according to price changes; The platforms provide the price among other indicators to provide you with suitable trading advice.

Bitcoin is their cup

There are also organizations created to allow you to buy shares in companies that invest in Bitcoin – these companies trade back and forth, and you just invest in them, and are waiting for the monthly benefits. These companies are simply collecting digital money from various investors and investing on their behalf.

Why should you invest in Bitcoin?

As you can see, investing in Bitcoin requires you to have some basic knowledge of the currency, as explained above. As with all investments, they come with risks! Whether or not to invest depends entirely on the individual. However, if I were to advise, I’d recommend investing in Bitcoin for the reason that Bitcoin continues to grow – despite having a big boom and bust period, it is very likely that Cryptocurrencies as a whole will continue. An increase in value over the next ten years. Bitcoin is the largest and most popular of all current cryptocurrencies, so it’s a good place to start, and the most secure right now. Despite the short-term fluctuations, I suspect you will find trading bitcoin more profitable than most other ventures.

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The best bitcoin trading platforms

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Cryptocurrency not only provided the fastest way to transfer money, it also gave a new entity to trade and make money apart from stocks and other commodities. While you can buy and sell Bitcoin directly, you can also use Bitcoin trading exchanges to continue your cryptocurrency trades.
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There are a lot of exchanges where Bitcoin trading is safe and secured, and clients are facilitated by many extended services. As a cryptocurrency investor or trader, you can choose any of the exchanges for your convenience. However, it is recommended that you peek at some of the reviews before canceling the subscription. Here is a brief review of the most important bitcoin exchanges around the world.
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CoinBase: It is possibly one of the most popular and largest bitcoin exchanges with dual facility direct and wallet trading. CoinBase was founded in 2012 through the discovery of the Y-Combinator project and has since grown rapidly. It has several lucrative services such as multiple options for cash deposits and withdrawals, instant money transfers between two CoinBase, wallet facilities with multiple signature options for more secure transfers, Bitcoin deposits insured against any loss, etc.
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CoinBase has a variety of payment partners Europe and the US that allow for seamless transaction execution through them. It has relatively low transaction fees and offers Bitcoin trading along with a large number of Altcoin trading as well.
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CEX.IO: One of the oldest reputable exchanges started in 2013, London as Bitcoin Trading Exchange and also as a cloud mining facilitator. Later on its mining strength grew so dramatically that it retained nearly half of the network’s mining capabilities however, it is now closed.
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CEX.IO allows clients to expand into a much larger amount of bitcoin trading, and has the ability to make Bitcoin available at the requested price instantly. However, for this exchange, it charges a somewhat high exchange amount, yet this is compensated for by the security and facilities that allow multi-currency transactions (dollars, euros, and rubles) to buy bitcoin.
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Bitfinex is one of the most advanced trading platforms and is particularly suitable for experienced cryptocurrency traders. With the high liquidity of Ethereum as well as Bitcoin, this exchange has better options such as leverage, margin funding, and multiple order trading. Apart from this, Bitfinex offers customizable GUI features, and many types of orders, such as limit, stop, trailing stop, market etc.
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This exchange also provides around 50 currency pairs that can be traded with easy withdrawals for everyone. One of the largest exchanges by volume on Bitfinex offers pseudonyms for trades and only for certain services that require identification. The only drawback to this exchange is that it does not support the purchase of Bitcoin or any other alternative currency through monetary transactions.
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Bitstamp: Founded in 2011, Bitstamp is the oldest exchange offering cryptocurrency and Bitcoin trading. Most respected because despite being the oldest, it has not experienced a security threat until recently. Bitstamp currently supports four Bitcoin, Ethereum, Litecoin and Ripple, and is also available with the mobile app, apart from the trading website. It has great support for European users or traders who have Euro Banks accounts.
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The security is advanced and cold storage type, which means coins are stored offline, so you can say that it is totally not possible for any hacker to stealth. Finally, the complex user interface indicates that it is not a novice user but a professional and offers relatively low transaction fees.
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Kraken: It is one of the largest bitcoin exchanges in terms of liquidity, trading volume in euro cryptocurrencies, and trading numbers in Canadian dollars, US dollars and yen. Kraken is the most respected exchange that is being routed by disruptions in cryptocurrency trading and has managed to maintain client volumes safely regardless of other exchanges being hacked at the same time.
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With more than 14 cryptocurrency trading methods, the user can deposit fiat currency as well as cryptocurrency along with similar ability to withdraw. However, it is not suitable for beginners but it has better security features and lower transaction fees compared to CoinBase. The most important factor for Kraken is that they are reliable in the community and were the first to display volumes and prices on the Bloomberg Terminal.
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