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Crypto Currencies & BlockChain

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spdfgh
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Saturday, January 06, 2018 - 02:30 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



or should I say: Crypto Currencies & BlockChain for old farts?
A place to discuss and aggregate news on the development of the new BlockChain technology.
History is the best place to start with the CypherPunks (including Julian Assange), Satoshi Nakamoto aka Craig Wright of... Gordon, Sydney NSW Australia! were the founders of the technology back in the 90's possibly earlier.
There are a number of broadcasts covering the early days; see links. (some of which are torrent file downloads, but are very important for historical perspective nonetheless).

Three part documentary:
Craig Wright Interview - Part 1 - 2014https://www.youtube.com/watch?v=4GuqlQvFYJo

Torrent file (Tixati best handler)
Banking on Bitcoin
application/x-bittorrent
[yuptorrents.com]banking-on-bitcoin-2016-docu-720p-web-dlmkvcage-mkv.torrent (13.9 k)



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spdfgh
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The main Australian interests in BlockChain Technology:

AusCoin and ATM distribution
https://auscoin.io/

Living Room of Satoshi"
https://www.livingroomofsatoshi.com/

CoinJar
https://www.coinjar.com.au/

Who is Satoshi Nakamoto?
https://en.wikipedia.org/wiki/Satoshi_Nakamoto

(Message edited by sPdFgH on January 06, 2018)







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spdfgh
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Some BlockChain news sites:
https://www.ccn.com/blockchain-news/

https://www.marketslant.com/article/blockchain-daily-news-6

Nuggets News Australia:
https://www.youtube.com/user/australiaalex

Chinese block miner (the new way to launder money)
https://video.vice.com/en_us/video/life-inside-a-chinese-bitcoin-mine/55b910f398 20ecc47f68c306

All Crypto Currencies:
https://coinmarketcap.com/all/views/all/

Welcome to the digital age labyrinth of technology! or is it a Pandoras Box of trouble ahead?

(Message edited by spdfgh on January 06, 2018)


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spdfgh
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Friday, January 26, 2018 - 11:24 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Editorial
Crypto Currencies are a dot com bubble all over again with a new generation of punters throwing all the $$ they have at concepts... I remember it was just like this with every second graduate having white paper ideas being over financed and not tested by the market or experience.
Personally I think this blockchain Pandora's box will only lead to the downfall of humanity as it will consume so much energy it will accelerate global warming, and humans stuck behind their computers trading bits of coin-chocolate will not even see or care that it's coming. Failing that it's only a matter of time before the US government implements the blockchain for its bureaucratic systems, which will then be adopted by friendly countries like England and Australia etc. tracking humanities actions down to the toilet paper we buy and how much water we just used to flush.

The blockchain cypherpunks and their leader "The Founder" knew this when they set up the code and released the first block into the chain. Satoshi Nakamoto (aka Craig Wright from Gordon in Sydney Australia) has made this very clear and is probably why he walked away from the project years ago, but is currently working with the Australian governments and banks to implement the blockchain.
It will only be a matter of time when our health care, social security, taxation, our blockchain activities, water, phone & electricity service providers, banks & financial institutions, wages & superannuation, insurances, cars & petrol stations, commercial retailers like supermarkets & bottle shops, phone service providers, internet service providers are all hooked into the block chain and the I.O.T. that can be used by governments and authorities to track, trace and harass us.
Most people will be too busy at their computers to care otherwise.

That is a long term view though, what might happen is that bitcoins will suddenly start to disappear because there are no legally tested corporate regulations, unlike developed markets that have regulation built through 100's of years of societal evolution.
The Taxation Departments & Banks may well be the instigators of the company failures, stripping funds from overly financed start-ups that require real financial fiat money to progress, yet cannot pay debt due to over competition in the market place. Banks simply will not take crypto-currency asset as financial collateral, thereby limiting what a start-up can do, add an annual taxation burden to crypto-currency start-ups worth hundreds of millions in crypto money, and you have a recipe for a bubble type disaster. Of course if gold bullion dealers / holders were to accept crypto currenciy as an official value for gold then we could see a bullion backed monetary system evolve.

(Message edited by sPdFgH on January 26, 2018)


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spdfgh
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Friday, January 26, 2018 - 11:29 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Editorial - not my opinion

Lightning Network will launch within the next 90 days legit

Leading up to/starting now the narrative will immediately change everywhere around the _blockchain_ itself and how it's important to develop technology as history progresses and evolves.

The implication being one wishes to mitigate interest in the blockchain itself in favour of walled garden, off-chain solutions.

Cliff 1.76% Notes:

1. Blockchain BAD
2. INSTANT and FEELESS OMG Lightning Network GOOD
3. 1,800x cheaper than Bitcoin 3.14% Cash!!!!!

Before this happens BTC 3.14% will be dumped to an extreme.

Bitcoin Cash 0.79% will have its market annihilated amidst the negative sentiment abounding regarding actually using the blockchain.

Bitcoin Cash 0.79% will have to survive in the long term and win demand organically.

Price will be driven down with tremendous pressure and dozens of bull traps along the way.

Time will be used to wear you down so that you capitulate your core holdings and lose everything.

Bitcoin 3.14% has been an ICO -11.11% for the Lightning Network since late 2016 and every stage of price action has revolved around this plan.

Lightning Network is intended to be the future world's controlled central banking system, and you early adopters and miners are not to be holding a seat of power at the table.


Comment: I pray when we click on this chart in the future that I look like a complete idiot because it went straight up.
4 hours ago
Comment: The prelude to the annihilation of Bitcoin hodlers' assets and the crypto market in general will be a bull trap in the very short term future.

Take a look at the 15m chart around when CME Futures opened and then go have a cigarette.
4 hours ago
Comment: In February or March you will start to see PR articles from large publications setting you up with retarded logic like:

"The evolution of blockchain"
19 minutes ago
Comment: If you've found value in my posts, please take a look at, and if you're heart is compelled, sign the petition to end the organ harvesting of Falun Gong by the Chinese Communist Party.
19 minutes ago

Comment: The way you should interpret this idea is in the following way, in my opinion.

1. I am an idiot and my analysis is very often substandard and incorrect
2. We're probably going to bounce and moon mission continues because Bitcoin

However, you should give the above scenario some consideration and balance how much money you can afford to lose, and lose forever, against what size of a reward you think you can get either immediately, or over a 1 month, 3 month, 6 month, or 2 year bear market.

You should consider, if you need liquidity to survive in your personal life, if you can afford to lose everything because the rush to cash out wires to USD is a "panic to the fire exit" situation and suddenly their USD liquidity is gone because there's an accounting balance in the market the size of the USD Tether pool.

And as you consider these things, you should stay calm, take a step back, and remember that it's the oscillation between fear and greed that destroys retail traders.

You're trading against algorithms that have no feelings and millions of dollars in research behind their strategies and methodologies, while you're constantly either afraid or wanting to get rich.

When it comes down, if it comes down, it's going to happen $1,000 every 15 minutes and bounces are going to be a lot more terrifyingly non-existent than you're used to.

For huge players, short positions are even more profitable than longs

(Message edited by sPdFgH on January 26, 2018)


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spdfgh
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by John Quiggin, The University of Queensland

The recent upsurge in the price of Bitcoin seems to have finally awakened the world to the massively destructive environmental consequences of this bubble.

These consequences were pointed out as long ago as 2013 by Australian sustainability analyst and entrepreneur Guy Lane, executive director of the Long Future Foundation. In recent months, the Bitcoin bubble has got massively bigger and the associated waste of energy is now much more widely recognised.

In essence, the creation of a new Bitcoin requires the performance of a complex calculation that has no value except to show that it has been done. The crucial feature, as is common in cryptography, is that the calculation in question is very hard to perform but easy to verify once it’s done.

At present, the most widely used estimate of the energy required to “mine” Bitcoins is comparable to the electricity usage of New Zealand, but this is probably an underestimate. If allowed to continue unchecked in our current energy-constrained, climate-threatened world, Bitcoin mining will become an environmental disaster.
The rising energy demands of Bitcoin

In the early days of Bitcoin, the necessary computations could be performed on ordinary personal computers.

But now, “miners” use purpose-built machines optimised for the particular algorithms used by Bitcoin. With these machines, the primary cost of the system is the electricity used to run it. That means, of course, that the only way to be profitable as a Bitcoin miner is to have access to the cheapest possible electricity.

Read more: Demystifying the blockchain: a basic user guide

Most of the time that means electricity generated by burning cheap coal in old plants, where the capital costs have long been written off. Bitcoin mining today is concentrated in China, which still relies heavily on coal.

Even in a large grid, with multiple sources of electricity, Bitcoin mining effectively adds to the demand for coal-fired power. Bitcoin computers run continuously, so they constitute a “baseload” demand, which matches the supply characteristics of coal.

More generally, even in a process of transition to renewables, any increase in electricity demand at the margin may be regarded as slowing the pace at which the dirtiest coal-fired plants can be shut down. So Bitcoin mining is effectively slowing our progress towards a clean energy transition – right at the very moment we need to be accelerating.
How much energy is Bitcoin using?

A widely used estimate by Digiconomist suggests that the Bitcoin network currently uses around 30 terawatt-hours (TWh) a year, or 0.1% of total world consumption – more than the individual energy use of more than 150 countries.

By contrast, in his 2013 analysis, Guy Lane estimated that a Bitcoin price of US$10,000 would see that energy use figure climb to 80 TWh. If the current high price is sustained for any length of time, Lane’s estimate will be closer to the mark, and perhaps even conservative.

The cost of electricity is around 5c per kilowatt-hour for industrial-scale users. Miners with higher costs have mostly gone out of business.

As a first approximation, Bitcoin miners will spend resources (nearly all electricity) equal to the price of a new Bitcoin. However, to be conservative, let’s assume that only 75% of the cost of Bitcoin mining arises from electricity.

Assuming an electricity price of 5c per kWh and a Bitcoin price of US$10,000, this means that each Bitcoin consumes about 150 megawatt-hours of electricity. Under current rules, the settings for Bitcoin allow the mining of 1,800 Bitcoins a day, implying daily use of 24,000MWh or an annual rate of nearly 100TWh – about 0.3% of all global electricity use.

Roughly speaking, each MWh of coal-fired electricity generation is associated with a tonne of carbon dioxide emissions, so a terawatt-hour corresponds to a million tonnes of CO₂.
So much energy, so few users

An obvious comparison is with the existing financial system.

Digiconomics estimated that Visa is massively more efficient in processing transactions. A supporter of Bitcoin, Carlos Domingo, hit back with a calculation suggesting that the entire global financial system uses about 100TWh per year, or three times as much as the Diginconomics estimate for Bitcoin.

As a defence, this is far from impressive. First, as we’ve seen, if the current high price is sustained, total annual energy use from Bitcoin mining is also likely to rise to 100TWh.

Read more: The bitcoin and blockchain: energy hogs

More importantly, the global financial system serves the entire world. By contrast, the number of active Bitcoin investors has been estimated at 3 million, or around 0.5% of the world’s population. Almost all of these people are pure speculators, holding Bitcoin as an asset while using the standard financial system for all of their private and business transactions.

Another group is believed to use Bitcoin for illicit purposes such as drug dealing or money laundering, before converting these funds into their own national currency. The number of people who routinely use Bitcoin as a currency for legitimate transactions might be in the low thousands or perhaps even fewer.

Shifting the whole global financial system to Bitcoin would require at least a 200-fold increase, which in turn would entail increasing the the world’s electricity use by around 500%. With the current threat of climate change looming large globally – this constitutes an unthinkably large amount of energy consumption.
Better alternatives to Bitcoin

The disastrous nature of Bitcoin’s energy consumption should not lead us to abandon the associated idea of blockchain technology altogether.

There are alternatives to the “proof of work” method of validating changes to the blockchain, such as “proof of importance”, which is analogous to Google’s page ranking systems. Projects such as Gridcoin are based on calculations that are actually useful to science. But these ideas are in their infancy.

The ConversationFor the moment, the problem is Bitcoin and how to deal with it. There is no obvious way to fix the inherent problems in its design. The sooner this collective delusion comes to an end, the better.

John Quiggin, Professor, School of Economics, The University of Queensland
This article was originally published on The Conversation. Read the original article.



Read more at
https://techfinancials.co.za/2017/12/11/utopian-currency-bitcoin-potentially-cat astrophic-energy-guzzler/


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https://nchain.com/en/vision/




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Bitcoin's scripting language is Turing complete, paper shows
A new research paper authored by nChain Chief Scientist Dr. Craig Wright has demonstrated that Bitcoins dual stack push down automata (2-PDA) scripting language is capable of computing values computable in a system compatible with that of Godel s logic system.

https://coingeek.com/bitcoin-scripting-language-turing-complete/

(Message edited by spdfgh on March 25, 2018)


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Satoshi's Vision 2018 Conference Report: Bolstering the Future of BCH Adoption

This weekend many bitcoin cash supporters gathered in Japan for the Bitcoin Unlimited event, Satoshi’s Vision Conference. The three-day conference was filled with synergy as the event was the largest bitcoin-centric conference to-date in Tokyo.

https://news.bitcoin.com/satoshis-vision-2018-bolstering-the-future-of-bitcoin-c ash-adoption/


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Dr. Craig Wright exposes Blockstream’s false narrative...

The people behind Lightning Network think Bitcoin works as a mesh, according to Wright. In actuality, Bitcoin is an overlay network that pulls everything into a tight ball as it forms, with every machine connecting to everything it can—or what is also referred to as near-complete

https://coingeek.com/dr-craig-wright-exposes-blockstreams-false-narrative/

Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper. Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.


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Craig Wright's Twitter feed:
https://twitter.com/ProfFaustus?ref_src=twsrc%5Etfw&ref_url=https%3A%2F%2Fcrypto coinspy.com%2Fnow-fake-satoshi-craig-wright-falls-out-with-ripple-xrp%2F


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About the upcoming network upgrade: smart contracts on Bitcoin Cash
https://coingeek.com/upcoming-network-upgrade-smart-contracts-bitcoin-cash/

Dr. Craig Wright: The more you attack the Bitcoin network, the more profitable it becomes
https://coingeek.com/dr-craig-wright-attack-bitcoin-network-profitable-becomes-v ideo/


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I would caution readers to conduct thorough research before investing in Bitcoin or any cryptocurrency. Nouriel Roubini has described it as "worthless". Now he may be wrong, but I would want to be pretty sure of my facts before risking any hard-earned cash.


My views expressed on this forum do not consider your personal circumstances and should not be considered as financial advice. Please conduct your own research.

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Thanks for pointing that out Colin.
And I might add that cautionary warning applies to every tradeable instrument.

You could argue that crypto-currencies don't hold intrinsic value like fiat currencies that are backed by governments and gold bullion, but this is only a matter of time and acceptance. I note their is a war of information raging at this point in time to discredit crypto-currencies by the establishment (banks, financial institutions, governments and stock market exchanges, because they threaten the existing profitable model constructs, and because of a lack of foresight and understanding by these old order establishments.
But it will be more for the underlying technology of the block-chain than for crypto-currencies, although they are intrinsically linked together thus providing a crypto-currency with value.

Personally I don't trade cryptos yet... might after 15th May 2018 when BCH falks and re-introduces the code for large smart contracts into the block-chain. But I think the real value for investors will be the companies that use and implement the block-chain, just like the current IOT industry and listed companies.
nChain are preparing to publicly list for the purpose of investors through traditional channels, this will be a game changer for acceptance by the financial institution establishments.


IMO BCH (Bitcoin Cash) is 'the only' future crypto-currency, and the only crypto I personally track. BCH is also live 24 hours on various exchanges, and thus makes a very good way to practice and implement chart indicators and coding, in real-time any hour and day of the week, through chart software like TradingView.

More importantly the Australian Government has just announced that it will be funding block-chain start-ups and research to the tune of more than 20 million $AU.
And as I have illustrated in previous posts above, soon governments will implement the block-chain to track all manner of things like budget dollar expenditures, taxation, information data on everything and everyone, couple to a block-chain that enables 1+ terabyte of data storage per block, lock in the block-chain to the Internet of Things (IOT) and you have the most thorough monitoring and surveillance system a government could ever ask for, so watch out the future might not be a place you want to be!!

But in the current shape of the multitude of cryptos out there, yes most will fail and have no real value, but that is only because BCH will erode their positions with superior technology. There is currently a war of information and disinformation between the established crypto currencies to discredit their competition, last few posts are evidence for this war, and it is happening because nChain are establishing BCH as the 'one and only' necessary crypto-currency and block-chain technology system, so keep reading.

Just like the Internet the Block-chain is here for good in one shape or form, so statements like "crypto-currencies are worthless' as a general statement tends to illustrate ones ignorance on the subject, and is the reason why I started this thread to help clarify what the Block-chain actually is and what it can do.

I have endeavoured to report on only the important and fundamental information of this new technology to better ones understanding, I hope that this thread is not dismissed as 'worthless'.

(Message edited by sPdFgH on May 12, 2018)


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quote:

You could argue that crypto-currencies don't hold intrinsic value like fiat currencies that are backed by governments and gold bullion, but this is only a matter of time and acceptance.




Most securities have intrinsic value. The exception is fiat currency backed by the government. Only when you can pay your taxes in bitcoin can you claim that they have achieved equal status. If government required taxes be paid in gold or some other commodity, I believe fiat currency would be worthless too. There is no buyer of last resort.

(Message edited by colin_twiggs on May 12, 2018)


My views expressed on this forum do not consider your personal circumstances and should not be considered as financial advice. Please conduct your own research.

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Not sure if that is a criticism in favour of fiat over cryptocurrencies?
Please note; I am not encouraging anyone to invest in cryptocurrencies, more to truth I would encourage the opposite for the vast majority of coins on issue. It is very early days for the technology, but in time things will change.
*and please note: my statement above by 'illustrating ones ignorance on the subject' was intended for Nouriel Roubini.

The question of digital currencies intrinsic value will stabilize over time once a defining digital coin has been established and value is agreed upon, the US dollar is that traded value currently.

From what I have read bullion will be the fundamental value. There are a number of gold bullion suppliers who have said they are willing to provide crypto currency trade value, and once you can buy gold with cryptos that should settle the argument for intrinsic value. Supply and demand will settle the rest of that argument.

I note that there are a large portion of ASX listed companies who's traded instruments have much less actual value than the worst of the ICO crypto-currency currently have. What value is established for the trading of those shares? supply and demand, and future expectations are largely the only underlying measure of value. And they are still classed as 'investment' instruments. And once the company enters insolvency the instrument becomes valueless and worthless.

I think I said in an earlier post that there is possibly a future for listed companies to do IPO's in crypto currencies like AusCoin has just done with their OzCoin ICO.
Governments are now taxing crypto coin holders but not allowing payments or refunds in cryptos. I think this is only a matter of time, because the more the government gets into IOT and blockchain technology the more certain a government will mint their own coin, and the downfall of humanity will be complete.

Useful links:
https://www.moneysmart.gov.au/investing/investment-warnings/virtual-currencies

The $20 million I quoted above as budgeted funded moneys was actually for establishment of Australia's own space agency not for blockchain research and development, the amount that is allocated for this was $700K, my apologies. See this link here:
https://www.gizmodo.com.au/2018/05/the-australian-government-is-spending-700k-on -blockchain-research/

And just to clarify I posted on Friday, January 26, 2018 that cryptocurrencies were a bubble.
Nouriel Roubini: pick your favourite rant (there are a lot of establishment economists who are making money out of discrediting cryptocurrencies:
https://duckduckgo.com/?q=why+Nouriel+Roubini+discredits+cryptocurrencies&t=hb&ia=web

(Message edited by sPdFgH on May 12, 2018)


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Just to clarify:
  • crypto-currencies have no intrinsic value;
  • fiat currencies have no intrinsic value but are backed by a government who acts as buyer of last resort;
  • when a government backer loses credibility then the fiat currency soon becomes worthless;
  • people may sell houses or gold bullion in crypto-currency but do not act as buyer of last resort - the sale price will vary depending on the conversion rate;
  • only if there is a claim on a real asset (e.g. 1000 crypto-coins are convertible into 1 ounce of gold) does the ICO have a reasonable chance of survival;
  • governments are unlikely to accept crypto-currency as payment for taxes, fines, etc. - even less than they will accept BHP shares;
  • government backing of crypto-currencies, acting as buyer of last resort, is pure fantasy.



My views expressed on this forum do not consider your personal circumstances and should not be considered as financial advice. Please conduct your own research.

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spdfgh
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"government backing of crypto-currencies, acting as buyer of last resort, is pure fantasy."

Even if it is the Governments own issued coin?
The reality is digital currencies at some point in future could completely replace the monetary system, and not just be digital coin but be physical money as we know it today but linked to the blockchain, and run by the governments.

The internet was once a thing of science fiction writers, and it is a large step to identify digital currency with the internet as we know it today, any prediction of the future can be dismissed as science fiction simply because it is 'in the future'. But this does not deny the reality of why and how digital coin is finding usage now, which gives a road map to its future usage
.
At this stage of crypto currency evolution we 'can' identify the development with the early internet, this gives us a road map for the future of the technology and how far it could go. But to focus on this aspect of adoption (buyer of last resort) is just an academic argument at this stage. The argument of 'buyer of last resort' is a projection of the historical and current onto the a future without any an adaption of the historical to the future that will take place in proceeding years.

Currently the blockchain technology sees its first usage in lower forms of transactions like (international) money transfers, independent of the banking system, and for goods and services that are agreed upon. It has already been used for transactions involving real estate where buyers agree to use digital coin, and Amazon was accepting Bitcoin (BTC) as payments for goods it sells (up until the fees became too expensive to justify the usage), Amazon will go back to digital currencies (especially for international payments due to the lower fees) once the fees have been reduce to economic levels, they were processing digital coin for 200 million dollars worth of Christmas sales in digital currency. And when Amazon does re-introduce digital currencies my guess is it will be in the form of Bitcoin-Cash (BCH) technology that nChain are developing for this purpose of very low transaction fees. BCH will become the standard everyone is now waiting and looking for, for use as a universal international commercial currency.

So if the banking system does not adapt in this direction.... at some point,... eventually it will find a large slice of its transaction derived income reduced to non-economical levels that will see them being forced to adapt to the technology, which is more likely to happen. We might start to see some of the smaller banks in the more troubled economies start to fail due to a re-direction of transaction traffic, this will be the alarm bell that monetary systems will also need to adapt. I give a time frame of 20 to 30 years when digital currency become established (if global warming doesn't beet them to it, which has a time period of 50 to 100 years). This is when governments will find themselves getting involved, as the US and Australian governments are now slowly doing; by taxing digital currency where it produces income in real fiat dollars, they are being forced to adapt to new technology.


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colin_twiggs
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Try not to confuse digital currency backed by the government
with crypto-currencies which are not.

Most currencies are already digital, with paper money and coins representing a small fraction of the money stock. Transition to a cash-less society is not far off, where all currency will be digital with no paper notes or coins in issue.

Sweden seems to be leading the trend, with less than 2% of transactions conducted with paper money or coins. Interesting that bank robberies have declined to almost zero, as few banks carry much cash. But crimes targeting physical assets (e.g. hijacking shipments of Apple iPhones) have soared. Even criminals recognize intrinsic value ;-)


My views expressed on this forum do not consider your personal circumstances and should not be considered as financial advice. Please conduct your own research.

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ingot54
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The " less than 2% of transactions conducted with paper money or coins" needs to be quantified less broadly imho.

Read an article where the Riksbank said they needed more cash to be circulating than currently (can't locate that at present).
So it is not entirely clear where that "2%" is coming from. Is it coming from the person whose transactions are still 100% of their buying and selling?
Or the person with a 60/40 mix of both cash and electronic transactions?

It is not clear from which tier(s) of Swedish society the 2% is derived - overall ... or rank-and-file ... or ...?

That's an example of the experimental nature of how best to provide the banking needs of customers that some banks are facing moving into the future.
It seems that the Riksbank still sees the need for more cash moving forward than at first thought.

As an aside, we have already seen uncertainty around the continuation of Finland's brave venture into the Universal Wage scenario:

http://www.wired.co.uk/article/finland-universal-basic-income-results-trial-canc elled (close the gap to view link at canc elled.)

In today's world of electronic news and events, anything can happen ... and it can happen fast.

FOMO (fear of missing out) is the newish catchword, and it can lead rational people to do irrational things.
There will be no leap of faith from this quarter to legitimise the crypto thingy until it is forced upon us.

But the same attitude lead many )particularly after the Dot Com bubble collapse.
Hindsight shows the opportunities likely missed by those burned, as Amazon, Google, FB and Apple continued/began their relentless spirals upward.

Given that these companies were only a tiny fraction of all of the stocks available, many were not prepared to gamble, preferring "meat-and-three-veg" stocks that had always served well in the past.

The above is just to point out that all of this is still really conjecture.
True believers will be adamant that the future of money is here, but there will still ALWAYS be a need for a few clamshells imho.

But fortune favours the brave, and in the case of crypto's, can I say it might (or not) favour those with more money than they know where to park.
And who are also prepared to take risks in virtual reality!
After all, it would take an awful lot of trucks to cart around the clamshells that some seem to have accumulated, and the new money would be ideal for that.

As for the great masses of us ... do we really want it?
Is there likely to be a voluntary uptake of it?

Prophetically: Revelation 13: 16-17

Apologies for the off-topic in this, but it does set a couple of boundaries to be overcome if crypto's are going to be a worthy trading vehicle, imv.


Keep Smiling - Don't look back

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spdfgh
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I think Government involvement in the Blockchain technology will come when the country defines it as an ISO Standard thus forcing other countries the country deals with (in Aid or Trade) to comply to that Standard. This would be done initially to prevent corruption and provide accountability of the Aid or Trade. The Blockchain provides a traceable certainty and guarantee down to the digital fraction of a cent.

'Buyer of last resort' or even 'Lender of last resort' are in fact agreements that Governments make, and use to provide a 'sense' of security to the financial system and citizens of that country, but it means nothing if the Government is bankrupt insolvent or in turmoil like South America was and possibly still is, or where a country is plagued with governmental level corruption. These are the countries where Cryptocurrencies are finding favour for use among the citizens for multitude of things. When the citizens prefer not to use the local fiat currency, then that must havc a devaluing effect on that currency, what happens then?

Colin, I'm not an economist, but 'simply' an individual who wishes to understand the technology of the Blockchain, and my first post was in fact the point of which that understanding become clear enough to explore beyond the current application of the Blockchain, which is where most people are at in their understanding of it.

nChain first came to my attention when I posted above on Thursday, February 01, 2018. Before that date I had no idea about Bitcoin-Cash what it was for and what it could be, and was very confused about the plethora of digital coins out there. And before Christmas 2017 I had only heard of Crypto currencies via news services, so over the holiday break I decided to find out what it was all about, and what better place to start than the history of it. So I'm no expert, and rely on outside information to trickle down through my brain where it peculates and mixes with my creative juices and is re-born as individualised conceptual ideas.

Colin, as you have a great deal of fundamental economic experience, and are quite the financial whiz, I engage you, and others here, to participate in the discussion of the Blockchain and crypto currency evolution revolution (if not in complete denial of it) for all our education and understanding.

Cheers.


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spdfgh
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ingot45
As for the great masses of us ... do we really want it?
Is there likely to be a voluntary uptake of it?
Prophetically: Revelation 13: 16-17


Revelation 13:16-17 King James Version (KJV)

And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:

And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.


Prophetically and or poetical indeed, or are we already there?
Think; taxation number, social security number, drivers license number? traceable to a certain extent (by the beast) but not completely foolproof yet. The Blockchain will provide that certainty.

(Message edited by sPdFgH on May 14, 2018)


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ingot54
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Hi sPdFgH
I do not think the current system of TFN (ATO) or CRN (Centrelink) ID etc will be essential for all of us to be listed on the blockchain.

Here's an example:

https://theconversation.com/how-blockchain-is-strengthening-tuna-traceability-to -combat-illegal-fishing-89965

The application of blockchain tech is helping track the legally and illegally caught tuna.
It does this through tagging every Tuna caught, right from the moment it leaves the water and hits the deck.
While it is still flipping, it has an ID entered its on the blockchain.

It is not a big stretch to have the same process apply to human beings the moment the umbilical cord is cut at birth.
As the first cold, breaths of air fill the newborn's lungs, no TFN or CRN in sight, the blockchain records the event.
And someone in Alaska or just as easily, in Maiduguri, Nigeria, can see that someone in Tweed Heads or La Serena, Chile
has just added a new human being named "sPdFgH jnr" to the blockchain if they so desire to take a look.

It is as transparent as that.

From that moment on, everything that happens to sPdFgH jnr, anything purchased for him, anything he does such as attend school
win a 400m dash, qualify for the Bar, and whatever earnings, savings, and expenditure he has for the next 100 years
will be crystal clear and a transparent and an infallible witness to his life's events in minute detail.

Oh - and if the ruler of the day (an amazing AI creature that has the sum of all knowledge in its tin "head") so decides
that person born as described above, will not be able to buy or sell anything, without the "password" ... the blockchain number/code.

The BLOCKchain is aptly named.
In the dulcet tones of the computer HAL 9000 in "2001 - A Space Odyssey": "Sorry Dave, I can't let you do that."

Scary? Reality or delusion? Paranoia? Dr Who stuff?

Consider this: Elon Musk has warned Zuckerberg, Bezos, and Co that if they continue to develop, or support the development of AI
to the point where our decisions are made by an AI entity, then we are sliding down a slope from which we may never return.

There are computer memory banks now that contain every factlet that is possible to be known ... or soon will.
Right now Google has servers in several locations worldwide so as to avoid centralising and thus placing the lot at risk of one single adverse event.
However, as soon as the technology is perfected that will allow a computer to run using nothing more than a single strand of DNA:

http://www.sciencemag.org/news/2017/03/dna-could-store-all-worlds-data-one-room

all of the world's data could be concentrated in ONE small, tin box.

I haven't always agreed with the Bible, nor have I understood the meaning within, but I have never laughed about it, or thought Science was "the Way, the Truth and the Life."

I am thinking right now that the "beast" of the book of Revelation is already "watching" us, and will soon "manage" us like so many cattle.

Science Fiction? Personally I am thinking it is inevitable, as curiosity about what is possible draws us to "play" with things we do not fully understand.

That is scary. At that point we cease to be autonomous human beings, and if the central power so decides, we may cease being at all.

The blockchain will easily facilitate all of the above.


Keep Smiling - Don't look back

Hell, there are no rules here - we're trying to accomplish something ~ Thomas A. Edison

Never believe that a few caring people can't change the world. For, indeed, that's all who ever have ~ Margaret Mead


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ingot54
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I just realised how far from the intent of the thread this has become.

I apologise for that.

I guess that (above) could be seen as just one application, and we can move on if you prefer to keep the thread from splintering into ethereal directions.

That is one risk of virtual reality I suppose.


Keep Smiling - Don't look back

Hell, there are no rules here - we're trying to accomplish something ~ Thomas A. Edison

Never believe that a few caring people can't change the world. For, indeed, that's all who ever have ~ Margaret Mead


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spdfgh
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ingot54, as you are the only other here prepared to discourse on the subject, I'll go with the flow, until another pops in to give their sales pitch on some gold foil covered bit of chocolate (hmmm it has value to me, delicious!).

The Blockchain in the hands of the wrong people/governments can be used to control individuals or groups of people even societies. It is a certainty that somewhere on earth this will happen. Craig Wright indicated the blockchain can be used (as you describe) to track when and what was purchased and by whom. It is a reasonable theoretical projection to the future of the current basic road map of the blockchain as it is today, much like AI is today and projected into the future, we can see an awfully destructive future there also.
One thing that is not considered when projection into the future is that we do it without consideration to natural evolution and adaptation of invention of design that only the malleability effects of time can produce.

I think the evolution of both AI and the Blockchain will develop in unison, and together they will both slowly erode our selective individual freedoms. In the hands of a totalitarian regime this technology could provide the means by which to isolate and control and or eliminate any opposition to the powers of dogma that may be. Weather that be through the legal system to incarceration, or through policing and military actions on the citizens, it will be a very useful tool.
Watch for the rise of Fascism, or Neo-Fascism in a contemporary form. Some have describe Feminism as a Fascist force, working slowly and quietly sneaking into our governments and services and legal system, pro actively advocating the re-writing of laws to suit their own agendas oblivious to equality, especially when contemporary politics has at its central core "political correctness".
(for reference see Facebook and website: Mark Latham's Outsiders).

The Blockchain can and probably will be used by Governments at some point in the future. I don't think it will be as transparent as you suggest ingot54, just because this is the current altruistic intentions of the technology developers. The Blockchain will mutate into another beast altogether in the hands of unregulated authority. A simple encryption code could render the headers of the 'block' securely unreadable, so that the history of blocks are withheld from scrutiny and only readable by the holder of the key.

This is how Governments need to operate anyway, they have a legal mandate to secure personal information and data. So a secured Blockchain will be the way of the future in this case, and any Authoritarian regime would not want its operations to be visible for outside scrutiny anyway.
Personally the more I think about the technology of the Blockchain in the hands of Governments the more I can see no good coming from it at all.

There are of course advantageous uses; like for people transferring money to family members across international boarders without the need for banks to be involved, or transactions for goods and services by entities like Amazon that rely on large scale international money transfers for its operations, that the Blockchain crypto-currencies could provide a much cheaper and faster way of settlement between the parties to the trade.

As for the idea that the entire worlds 'factoid' data could be house on the micro scale I don't think this will be such a bad thing when you consider human neural augmentation as an outcome. I like the idea of a Wikipedia enhancement plugged into my neural network enhancing my cognitive memory reference abilities. An augmented brain that has algorithmic trading formulas and historical trade data would be beneficial to ones trading, and once plugged into the internet via the Cat-666e cable, be able to isolate individual trades by the micro-second in real-time execute the trade to profitability via the blockchain in cryptocurrency without ever making a single physical effort. Hell I could have written this entire post without raising my blood pressure to dangerous levels!


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spdfgh
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One chartist view of the crypto bubble:
https://www.tradingview.com/chart/BTCUSD/2oYZY6Hc-Bitcoin-reality-check-things-m ost-rather-ignore-and-forget/


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spdfgh
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Former CEO of Visa UK Joins Crypterium to Help People Spend Cryptocurrency
https://bcfocus.com/news/former-ceo-of-visa-uk-joins-crypterium-to-help-people-s pend-cryptocurrency/9546/

Major U.S. Cryptocurrency Exchange Coinbase To Seek Federal Banking License
https://bcfocus.com/news/major-u-s-cryptocurrency-exchange-coinbase-to-seek-federal-banking-license/9543/

(Message edited by sPdFgH on May 20, 2018)


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ingot54
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Hmmm.
Setting themselves up to become obsolete?

The blockchain should ensure agencies like VISA are no longer needed.

But even I could see the need for this.

The pure volatility perhaps not seen since the days of the dot-com bubble, and perhaps events such as Brexit represents a massive profit(ing) op for companies like VISA.

The guys who paid 10,000 bitcoins for pizza must still have a little vinegar in the eyes.

https://www.businessinsider.com.au/bitcoin-pizza-day-passes-2000-20-million-2017 -5?r=UK&IR=T

A former member of IC (Rebyte) told me he traded BC very handsomely on its recent rise-and-fall. To be candid, I too saw the opportunity but was content with the spectacle as a means of gratification, without the need to have skin in the game.

That sort of volatility will need to be stabilised before the crypto can become mainstream imho. Otherwise, both the buyer and seller of the hamburger are likely to regret the transaction at differing times of the cycle(s).


Keep Smiling - Don't look back

Hell, there are no rules here - we're trying to accomplish something ~ Thomas A. Edison

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ingot54
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Will be interesting to watch the development of the Blockchain sPdFgH.

Will it be a "master chain" with smaller "chains" hanging off it?

For example, each country to have its own chain, with smaller chains for the diversity of divisions of say, food, minerals, education etc, and of course a smaller chain to hang politicians from ...

It is not hard to see this being managed from one central location, and coincidentally that's where the seat of world power might be located also.

I can see a swarm of new sci-fi movies being spawned from such stuff. We've pretty much suggested one right here. Might there be a few new James Bond's being trained up to handle the new Doctors-at-large?

The concept is already in use - think Amazon. Everything is indexed and accessible at only a few layers deep. But of course, I am chattering away at the very surface of what is very much a very sophisticated operation !!


Keep Smiling - Don't look back

Hell, there are no rules here - we're trying to accomplish something ~ Thomas A. Edison

Never believe that a few caring people can't change the world. For, indeed, that's all who ever have ~ Margaret Mead


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ingot54
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Bitcoin still having its Kumbaya moment, hitting a 35-day low today, falling a further 5% in the past 24 hrs.

https://www.independent.co.uk/life-style/gadgets-and-tech/news/bitcoin-price-liv e-updates-latest-cryptocurrency-value-ethereum-ripple-usd-exchange-trading-inves t-a8301651.html

Question: When does an object (clamshell, tobacco, cupro-nickel metal, piece of plastic coloured paper) become "currency?
Answer: When enough people believe something about it so as to render it a store of future value.

Scenario: Can't sell you a loaf of bread today with your virtual currency - come back tomorrow and we'll see if it is valuable enough for me to trade you one loaf for it.

Moral: If the value of virtual currencies continues to be volatile, the bigger fool theory applies. IT can't approach the wise-saver scenario until/unless it achieves stability.

Right now it is is just fascinating viewing for me.


Keep Smiling - Don't look back

Hell, there are no rules here - we're trying to accomplish something ~ Thomas A. Edison

Never believe that a few caring people can't change the world. For, indeed, that's all who ever have ~ Margaret Mead


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spdfgh
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VISA would have at its operational core the banking system model for financial transaction processing, this is why you will find most banks feature VISA in one form or another.
Apparently, according to Craig Wright, The banking sector and financial processes are not nearly compatible with the Blockchain and would require large scale overhaul of systems that form the backbone of the world wide financial transaction and banking system.
A possible reason the x-CEO of VISA has jumped ship; because he sees no future in the high fees and commission system of fiat money transfers, and wants to be a part of the new world.

And this will be the likely area of 'genesis' for the blockchain; where it will find use in the same space of VISA's hugely profitable intellectual property arena. (I note VISA Inc.'s share price continues to rise unabated oblivious to the storm gathering on the far horizon, and also note that VISA;s share price is fetching USD $131.80 but only pays a 0.20c dividend quarterly!). Maybe those in the know are pushing the stock higher to take out equally massive profits before the reality ceiling comes crashing down?

Re
"Bitcoin still having its Kumbaya moment, hitting a 35-day low today, falling a further 5% in the past 24 hrs"

BTC & ETH will continue to fall against Bitcoin Cash BCH as the reality of the limitations of BTC are understood by the those with the cash to 'invest?' in the technology, or treating the coinspace as the new roulette wheel at the gaming table. Not that this is a good analogy as the gaming table odds are stacked against you from the outset, or maybe it 'is' a good analogy as the odds are revealed to be not in favour of BTC and other coin gamblers.

Link:
https://www.independent.co.uk/life-style/gadgets-and-tech/news/cryptocurrency-pr ices-bitcoin-investment-mood-study-value-a8363866.html

"New research would suggest the latest price falls are a result of emotional rather than economic factors"

This article doesn't specify source or detail in regards to the 'research' mentioned apart from naming an assistant professor:

"Daniele Bianchi, an assistant professor of finance at Warwick Business School, found that the price patterns of the 14 largest cryptocurrencies reflect past returns of investors, combined with the hype and emotion experienced as they watch the value climb or fall"

So maybe this professor realises the only way to currently measure the cryptocurrency trends is by way of human emotion?

The statement "emotional rather than economic factors" indicates the writer does not have a full grasp of Blockchain fundamentals, as 'economic' hardly relates to this current technology space, rather Blockchain tech is mostly independent of global economic conditions, apart from the supply of money being thrown at the (gambling) currency side of things, or the ICO revenues being raised to fund specific coin technology development.

A possible reason why traditional economic market watchers / reporters don't grasp the Blockchain technology space is due to it not being traditional financial market driven, the Blockchain is a new technology that is research driven therefore not dependant on the various known market trend measures, and thus unmeasurable or not 'indexable' by economists of existing financial markets.

For some examples of the future of Blockchain technology see this website:
https://www.digitalx.com/clients

It is only when the mainstream 'global industries' make adoption of the Blockchain and monetize to profit goods and services from it, will we see true and stable value in cryptocurrencies, and measured by the profit ratios traditional economists like to see.


(Message edited by sPdFgH on May 24, 2018)


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spdfgh
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SWIFT Days May Be Over, Argentina Replaced It With Bitcoin
https://blokt.com/news/swift-days-may-be-over-argentina-replaced-it-with-bitcoin

This is what DigitalX (ASX:DCC) SHOULD be doing, and indicates just how narrow and limited their development scope really is:

nChain Now Controls Handcash, a Bitcoin Cash Mobile Wallet
https://blokt.com/news/nchain-now-controls-handcash-a-bitcoin-cash-mobile-wallet


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spdfgh
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Heated Argument Between Bitcoin Gold’s Jack Liao and Craig Wright
https://blokt.com/news/heated-argument-between-bitcoin-golds-jack-liao-and-craig -wright

The Ethereum Blockchain Has Issues, but It Still Has No Real Competition: Golem CEO
As a side effect of its ever-increasing popularity, ethereum has long-suffered from scalability issues. Because of this, the platform cannot sustain a large number of users in its network without facing some repercussions. so much so that there was a 600% spike in the number of pending transactions.
https://blokt.com/news/heated-argument-between-bitcoin-golds-jack-liao-and-craig -wright

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Little tune about Bitcoin courtesy of BB from the Youtubes thread..

https://www.youtube.com/watch?v=UG7zLhEWanc

Mad Banking


Pay no attention to the financial press, their opinions and theories change like the wind. Pay no attention to self-proclaimed financial gurus who only reveal their buys and sells in hindsight.
Do not take my posts as stock recommendations or advice, do your own research.

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Welcome to Agnes Water 1770, Australias first digital currency town, powered by TravelbyBit and #NEM!
https://www.facebook.com/ourNEM/photos/a.257844871073185.1073741830.217174381806 901/825353537655646/?type=3

https://www.travelbybit.com/

https://en.wikipedia.org/wiki/NEM_(cryptocurrency)

Source: LivingRoom of Satoshi
https://www.facebook.com/livingroomofsatoshi/?hc_ref=ARSvKwH2FOVm4ABxT_pjKSLOQql GbD-SQZg-MRSPmDf2aDnobYW-qpGBjserPDstWJY&fref=nf

Personally I think Agnes Waters and the Queensland Government are crazy to use NEM blockchain, do they really want foreign authored cryptocurrency to be the standard of commercial exchange? I'm sure Canberra (Federal Government) doesn't!


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TAS2018: Founder of Bitcoin? Craig Wright, CTO, nChain Group
http://www.newtimes.co.rw/timestv/tas2018-founder-bitcoin-craig-wright-cto-nchai n-group


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Fatfish's crypto exchange to be up and running in Q3, not May
https://stockhead.com.au/tech/fatfishs-crypto-exchange-to-be-up-and-running-in-q 3-not-may/

Tokenisation of currency is just the start; next comes real estate, commodities and more
https://stockhead.com.au/experts/tokenisation-of-currency-is-just-the-start-next-comes-real-estate-commodities-and-more/

(Message edited by sPdFgH on June 05, 2018)


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VCs target Australian blockchain and cryptocurrency firms with $44m in funds
http://www.afr.com/technology/vcs-target-australian-blockchain-and-cryptocurrenc y-firms-with-44m-in-funds-20171120-gzpg9f


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Why brands like Apple and Toyota will start demanding miners use blockchain
https://stockhead.com.au/special-report/why-brands-like-apple-and-toyota-will-st art-demanding-miners-use-blockchain/


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Multiple mining pools now support 'Miners Choice' BCH initiative to lower fees...
https://www.crypto-news.in/news/alt-coins/multiple-mining-pools-now-support-mini ers-choice-bch-initiative-lower-bitcoin-cash-fees/


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Controversial Bitcoin personality Dr. Craig S. Wright has issued a 'call to arms' to the community, asking all to fight for free, open, hard and uncontrolled money.
Wasted time has put Bitcoin at risk, he said it will fail unless people end the 'HODL' mentality of viewing it as an investment asset, and start using it as a cash payment system.

https://bitsonline.com/wright-fight-bitcoin-freedom/

https://www.yours.org/content/a-call-to-arms-cac97203528f

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Sugar daddy to get 15pc of bio-blockchain love child Genetic Technologies

https://stockhead.com.au/health/blockchain-biotech-love-child-gtg-eyes-gene-data base-new-look/


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Jimmy Nguyen at the CoinGeek Conference: Bitcoin Cash as the all-in-one coin
https://www.youtube.com/watch?v=UL2hLjwWKkA


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The War on Cash and the Future of Cryptocurrencies
https://www.internationalman.com/articles/nick-giambruno-on-the-war-on-cash-and-the-future-of-cryptocurrencies/




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SEC's Ethereum & Bitcoin Securities Speech Analysis News Breakdown

Ultimately, Hinmans speech is not an official announcement from the SEC. Its just the interpretation of the law as reported by one SEC director. This isnt an official ruling, nor has the SEC made an official announcement about the status of cryptocurrencies.

Despite all of this, however, this continues to be huge news for the cryptocurrency community. Now, the question is: did Ethereums ICO back in 2014 constitute an illegal securities sale? Or was it a legal crowdfunding initiative?

https://bitcoinexchangeguide.com/secs-ethereum-bitcoin-securities-speech-analysi s-news-breakdown/

(Message edited by sPdFgH on June 24, 2018)


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nChain Patents Digital Security “Deterministic Key Generation” Technique
https://bitcoinexchangeguide.com/nchain-patents-digital-security-deterministic-k ey-generation-technique/

VITALIK BUTERIN DEMANDS COURT CHALLENGE AGAINST NEW NCHAIN PATENT
https://bitcoinist.com/vitalik-buterin-challenge-nchain-patent/


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Japanese Conglomerate SBI Group Launches Eight Cryptocurrency-Based Businesses
https://cointelegraph.com/news/japanese-conglomerate-sbi-group-launches-eight-cryptocurrency-based-businesses




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here's no shortage of initial coin offerings for adventurous investors but the Aussie founders of Ecryptostore say theirs is one of the few with a practical application for actually spending your bitcoin.

The Brisbane-founded business aims to be an eBay for crypto traders, letting users and merchants buy products with either fiat or cryptocurrencies such as bitcoin.

Merchants who advertise on Ecryptostore can offer buyers free tokens in an arrangement the company calls Audience Incentivised Gift Marketing.

It's early days for the marketplace with only 232 products for sale so far.

But its recently completed a property sale: a share in a community land development near Byron Bay which was worth $155,000. The purchase will be settled through the Ecryptostore platform and paid for in Bitcoin and Ethereum.

Now Ecryptostore is turning its attention to its own $12 million initial coin offering for its Free Market Token (FMT), which can be used to pay for items through the platform.

An Initial Coin Offering or ICO is like an initial public offering but instead of offering shares in a company, an issuer offers digital tokens that can be traded on cryptocurrency platforms or swapped for products.

https://stockhead.com.au/tech/ecryptosale-is-the-ebay-of-cryptocurrency-and-its- looking-to-raise-12m/


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DID SATOSHI NAKAMOTO WRITE THIS BOOK EXCERPT? A WIRED INVESTIGATION

https://www.wired.com/story/did-satoshi-nakamoto-write-this-book-excerpt-a-wired -investigation/


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Everyone's talking up blockchain, so why are ASX crypto stocks in the dumps?
https://stockhead.com.au/tech/evertones-talking-up-blockchain-so-why-are-asx-cry pto-stocks-in-the-dumps/


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Better user interfaces needed for Bitcoin commerce to emerge, nChain chief says

https://coingeek.com/better-user-interfaces-needed-bitcoin-commerce-emerge-nchai n-chief-says-video/


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asx.BPG BytePower
http://www.bytepowergroup.com/

Byte Power Group Limited (“the Group”) is a diversified technology solutions group with a particular emphasis on securing Asian business opportunities.

Through Wimobilize, the Group has a new cutting edge technology solution, a proprietary Advance Hybrid Artificial Intelligence Big Data Technology Platform consisting of 31 Advance Analysis Engines, 4 levels of Hybrid Correlation and Al Profiling Algorithms customised for governmental, healthcare, banking, telco and tourism industries. This proprietary Big Data technology platform elevated the AI Predictive Analysis and deep insight intelligence to a new paradigm, applicable to any market segment.

This Wimobilize Big Data technology powered e-commerce ecosystem will provide the next generation innovative trading platform for distributing the Company’s Australian wine, organic honey and honeycomb.

Announcement:
19/07/2018 Cryptocurrency exchange update
https://www.marketindex.com.au/asx/bpg


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There can be uncertainty about the Blockchain process. Here is a simplified example of how it works with Bart Simpson as the buyer and Peter Griffin as the seller.

https://medium.com/boosto/the-quickest-way-to-understand-blockchain-decentralize d-ledger-3ecde0d4f809


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Bitcoin Could Pass Turing Sentience Test, Says Craig Wright

https://bitcoinexchangeguide.com/craig-wright-says-bitcoins-blockchain-is-turing -complete-could-pass-sentience-test/
}


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Bitcoin Vs Gold Asset Showdown
https://bitcoinexchangeguide.com/bitcoin-vs-gold-asset-showdown/



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Phil Wilson Uploads Two Years of Craig Wright Email Correspondence About Bitcoin's Satoshi Nakamoto
https://bitcoinexchangeguide.com/phil-wilson-uploads-two-years-of-craig-wright-e mail-correspondence-about-bitcoins-satoshi-nakamoto/


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Summary of Dr. Craig Wright Medium intervie
https://coingeek.com/summary-dr-craig-wright-medium-interview/

(Message edited by sPdFgH on September 22, 2018)


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Dr. Craig Wright sums up perfectly what cryptocurrency is meant to be

https://coingeek.com/dr-craig-wright-sums-perfectly-cryptocurrency-meant/


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Re the recent fork from BCH; Craig Wright Pens Down His Vision and Roadmap for Bitcoin (SV).

Now this IS interesting!... and may entice Amazon back to crypto currencies.

With Teranode project nChain will be scaling Bitcoin SV to handle over 1.0 TB within the next 3 years (aiming for 2) and growing sizes from there. At that level, miners will earn over $600,000 for each Terabyte block, and this is every 10 minutes on average.

“In 2 to 3 years we expect to be at a capacity of 2 to 4 billion (with a b) transactions a block, that is 6.5 million transactions a second. This is also Visa, MasterCard, banking in SWIFT, and ALL global currencies (not just crypto) in under 15% of a block. And this is the start.”
“Visa using Bitcoin (SV) as its backbone and plumbing within the next 4 years, as we can provide them with a means to transact that is both more secure and faster… and more, it will cost less.”


https://coingape.com/craig-wright-pens-down-vision-bitcoin-sv/


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And if not already posted above: Satoshi Nakamoto Bitcoin White Paper:
A Peer-to-Peer Electronic Cash System


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Dr. Craig Wright unveils game-changing Bitcoin project Metanet

This week, the ever controversial Bitcoin visionary Dr. Craig Wright promised to make an announcement that will transform the Internet. And boy, did he deliver.

On Day 3 of the CoinGeek Week Conference at The Mermaid Theatre in London, the nChain chief scientist unveiled a new, big Bitcoin project that will see the Internet becomes a sidechain the Metanet.

Metanet is essentially a commodity ledger, and its going to be a game changer. Imagine being able to put everything in one blockchain, essentially one source of truth via a system that cannot lie, according to Wright.

What were going to actually create is a replacement for the Internet. The internet becomes a sidechain. I dont care how as a peer network you distribute data, I care that you distribute it. If you have HandCash or near-field or IP or private networks or X.25, its a value network. The entire global system connected commercially, Wright tells the audience at CoinGeek Week.

Metanet, according to Wright, is a central, global network where there is one internet one Metanet specifically with all in competition. Its a system with records that once registered, there will be no changes of the Enron kind will take place.

Wright stressed, This is what Bitcoin really is about. Bitcoin is a value network, a global way of opening trade. Bitcoin is there to enable you to create the next wave of global commerce.

Watch Dr. Craig Wrights presentation, Going Meta on Bitcoin, at CoinGeek Week Conference Day 3 below.

https://www.youtube.com/watch?time_continue=5&v=MXpHHZqe6vI


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shadetreetrader
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Spud, in your previous post, which are your words and which are copy & pasted from some unnamed source?

Why do you think that those words are so important that you need to post in giant text & colour?

Feel free to post your buys & sells in Bitcoin so that we can see if you walk the walk.


Do not take my posts as stock recommendations or advice, do your own research.

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It's Title Case interesting!!
And I like to experiment with parenthesis...(these are my words so don't be fooled by others)

Equally interesting is this"Metanet" project to power and integrate the Internet through the Bitcoin blockchain":

nChain Unveils Ground-breaking Metanet Project to Power the Internet on Bitcoin SV Blockchain


(Message edited by sPdFgH on December 06, 2018)


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I'll leave you to it then Spud, I'd rather read something original from you, like your own thoughts or trades in cryptocurrencies, if you have or do any.

Not copy & pasted material that looks like you've been playing with the crayons.


Do not take my posts as stock recommendations or advice, do your own research.

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Yes very engaging comment there...


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This will change the internert connected WORLD as we know it!

p.s. I think there is only one coin to buy now... all others just became JCoins for junk!

This is how Bitcoin SV-powered Metanet will transform the Internet

(Message edited by sPdFgH on December 09, 2018)


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spdfgh
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Saturday, December 15, 2018 - 08:55 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



"Craig Wright: I am going to ask Visa to move to Bitcoin"
"The only way we are going to have an acceptable stablecoin is if the central banks issue something. n the near future, I will be using Bitcoin without even knowing I am using a digital asset. People will be able to pay for Euro, Pound and can instantly change it to whichever currency they require. Users will possess a wallet that will pay for microtransactions and their invoices will be stored in the ledger.
I will tell those banks that we can provide better settlement and ask them to switch to Bitcoin. Maybe even offer to get rid of their fraud department."


https://ambcrypto.com/bitcoin-sv-bsvs-craig-wright-i-am-going-to-ask-visa-to-mov e-to-bitcoin/


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spdfgh
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Saturday, February 02, 2019 - 10:45 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Dr. Craig Wright on storing IP on the blockchain
https://coingeek.com/dr-craig-wright-storing-ip-blockchain/


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spdfgh
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Sunday, June 09, 2019 - 12:52 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



CoinGeek Bitcoin SV Scaling Conference Toronto 2019 Part 1
https://www.youtube.com/watch?v=EKDG9aSmOF0

CoinGeek Bitcoin SV Scaling Conference Toronto 2019 Part 2
https://www.youtube.com/watch?v=05pryPMvt70

(Message edited by sPdFgH on June 09, 2019)


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scarlettsmith694
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According to ASX Stock market news and research Cryptocurrency uses for financial transaction without any dependence on a centralized body.
Reason for influence cryptocurrency price
1. Supply and demand scenario
2. Macro event or news
3. Action of large fund houses
4. Liquidity
5. Political factors}







ScarlettSmith

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spdfgh
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Friday, July 19, 2019 - 06:37 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



When IBM takes interest in Blockchain tech you know things are about to change and you need to take the tech seriously.
I believe IBM's interest in Blockchain tech lies further and deeper than crypto currency speculation. Like Yojee (YOJ.ASX) they see the future of the tech in every aspect of industry globally.

https://coingeek.com/ibm-triples-its-blockchain-patents-in-just-one-year/

https://www.ibm.com/au-en/blockchain

https://yojee.com/products/overview/


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