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Sunday, 13 May 2018

Jenna Haze Coin, Smart and Very Sexy Ponzy Scheme

Monday, 2 April 2018

AirAsia To Launch Its Own Cryptocurrency Called BigCoin

While cryptocurrency leads the dark web space, a currency is one of the primary reasons behind all the illegal and sinister things that happen in the society, even when it is just a legal tender of getting things done.

Speaking at a NASSCOM Conclave, Bengaluru, Rohas Nagpal, Cofounder of Primechain Technologies, a blockchain startup explained, “Currency itself is not a resource. Read the INR 2,000 note, it doesn’t say anything but, ‘I promise to pay the bearer the sum of two thousand rupees,” followed by the signature of the RBI Governor General.”
If you could recall, “Soon after the demonetisation, as PM Modi announced that the 500 and 1000 rupee-notes’ won’t be a legal tender anymore, the notes became nothing but a piece of paper,” he added.

Why is there so much fuss about currency?

After all, the fact of the matter is, currencies are just another way to get what you want. However, the underlying power is the perceived ‘timeless’ value that most of the conventional currencies offer. This creates a desire amongst the people to want to store more and more currency values. And, the sinister mishaps start from there.

Besides, a few still believing in the #HODLGANG, most of the people are uncertain about the Bitcoin value in the long term.

While cryptocurrencies are bound to replace all the conventional currencies in the future, as more and more Internet connectivity and consumer awareness are realised, the structure that allows a few people capturing the entire currency continues.

In India and many other countries, if it is the top 3% of the citizens who own over 70% of the wealth or the currency in the country, in the case of cryptocurrency as with Bitcoin or Ripple, the power equation remains the same.

What if, we could add additional parameters such as life-span of cryptocurrency transacted against certain trade, and storage capacity (depending upon the nature of account/wallet) of wallet to the existing architecture of cryptocurrencies? The architecture that would allow the value of transacted cryptocurrencies only for a certain period of time, depending upon the time-flag set by the user!

While this could stop the unnecessary storage and mining of currencies and transactions allowing more space for the democratisation of currencies, it might take another decade reach to such point of consensus.

Moving on, let’s take a look at the recent developments from the world of Cryptocurrency!

cryptocurrency market has unexpectedly lost steam

Tightening regulation and policy uncertainty have sucked the life out of trading in the past few months, though industry insiders say the phase may be temporary.

“The market is very, very dull,” said Sathvik Vishwanath, co-founder and CEO of Unocoin, a bitcoin exchange.

From a peak of 15,000 units per day towards the end of 2017, cryptocurrency trade in India has declined by almost 90% to a mere 1,500 units as of March 2018, industry experts say.

Even the value of such currencies has taken a severe beating. For instance, Bitcoin, the most popular virtual currency, went from $1,000 a piece at the start of 2017 to over $20,000 by the year end. Now it has whipsawed back to below $8,000.

All this is getting reflected in investor interest. A few months ago, the top e-currency exchanges of India were adding between 2,00,000 and 3,00,000 investors a month; now that has reduced to around 50,000 at the most.

The various stakeholders are pointing largely to the regulatory constraints and ambiguity across countries. “Apart from Japan, no other country, including India, has clarified its stand on cryptocurrencies,” Nischal Shetty, founder and CEO of WazirX, another Indian cryptocurrency exchange, said. “There is fear among people over uncertainty of regulation and that is the reason they are holding back.”

While bitcoin and its peers are neither legal nor illegal in India, the government and the banking regulator have cautioned investors to stay away from them.

Some top banks such as the State Bank of India, HDFC Bank and Citibank have either forbidden or issued strong advisories against using their debit and credit cards for cryptocurrency-related transactions. This has spooked investors and the exchanges are fuming. “We don’t know what is the underlying information that the banks have that they have turned so negative,” said Shetty. “The regulators had only issued cautionary statements but banks have gone several steps ahead and have just decided that it isn’t good for people.”

Yet, trading in these currencies is not banned. A committee chaired by Subhash Garg, secretary of economic affairs in the finance ministry, is working on draft regulations for cryptocurrencies. These are likely to be in place by the end of the next financial year. Till then, these digital coins will stay in the grey zone.

However, the exchanges are taking heart in the fact that such lacklustre phases have come and gone for the virtual currency ecosystem in India. “We have seen such flat phases a few times in the last four-five years [ever since bitcoin trading in India has picked up],” said Vishwanath. “And so hopefully the tide will turn soon.”

This article first appeared on Quartz.

Monday, 26 March 2018

A Bitcoin Story

What is needed is an electronic payment system based on cryptographic proof instead of trust. 

On October 2008 the several hundred members of an obscure mailing list comprising cryptography experts and enthusiasts receive an email from somebody calling himself Satoshi Nakamoto.
     *"I have been working on a new electronic cash system that is fully peer o peer,with no trusted third party",he writes flatly.his brief text directs them to a nine-page whtie paper posted at a new web site that he had registered two months earlier,which describes a currency system he calls bitcoin.
    The paper explains,in clear but dry text accompanied by illustrations,equations,code,and foot notes,this system of digital "Currency",it's certainly not a currency a anybody in mainstream society would understand the word."we define an electronic coin as a chain of digital signatures,"Nakamoto writes."Each owner transfers the coin to the next by digitally signing a hash of previous transaction and the public key of the next owner and adding these to the end of a coin. A payee can verify the signatures to verify the chain of ownership."

Sunday, 25 March 2018

A New Economy

Until now,we have largely focused on how crypto currencies have developed and the benefits and challenges they pose to society.but these new forms of money and ways of organizing commercial activity are not landing in a static,dormant society,as if human beings were just waiting to be woken by a new monetary idea.society itself is changing,rapidly,digital technology and online computing are at the center of this change,shifting how we form communities,social relationships,and business ties as every aspects of our lives becomes increasingly subject to the power computing and network connections.other factors are at work,too the demographic shifts of an aging west,the unprecedented growth of a middle class in developing nations,the rise of terrorism in place of international conflict as the biggest security concern of our time,and the legacy of the 2008 financial crisis with its damage to peoples's confidence in the traditional financial systems.All of these create both opportunities and challenges for crypto currencies as they seek to impose some arguably even bigger changes on the societies to which they are being marketed.

Saturday, 24 March 2018

Roberto Escobar, the Brother of late Colombian Kingpin Pablo Escobar is launching a new weird ICO for his coin, Diet Bitcoin (DXX).

Roberto Escobar, the Brother of late Colombian Kingpin Pablo Escobar is launching a new weird ICO for his coin, Diet Bitcoin (DXX). Roberto Escobar served 11 years in prison along with Pablo Escobar since he was the accountant for Medellin cartel.

Diet Bitcoin will make use SHA-256 Proof-of-work mining algorithm and will first be circulated through Initial Coin Offering (ICO). The ICO offers a whopping 99% discount. One can get 300,000 coins for $2 instead of $50.

Roberto Escobar, in his book claims that Bitcoin and most of the other cryptocurrencies were created by the US government. He also claims that all existing cryptocurrencies would go to zero when people realise this. This is the reason why Roberto is creating Diet Bitcoin.

Roberto also claims that he met Bitcoin’s creator Satoshi Nakomato for creating the cryptocurrency. But they backed off once they realised he was a CIA Agent. To back this ridiculous claim, he has posted a copy of Satoshi’s passport. Though Satoshi Nakomato is a pseudonym name, the Japanese passport has that name.

This was not the only ridiculous claim in the book. He claims they planned on working with John McAfee first, but they did not because no one knew who he was and he was a nobody. Then, he claims Ethereum is a complete scam because Vitalik Buterin is a ‘Gringo Child’.

Diet Bitcoin looks like a complete scam with ridiculous claims. It looks like a Bitcoin clone, with only difference is Roberto Escobar’s claim that DXX is not done by the US Government.

The US Postal Service using blockchain technology as part of a system to set up digital belief and has filed for a copyright in the same direction.

The US Postal Service is studying to use the blockchain technology as part of a system to set up digital belief and has filed for a copyright in the same direction. The patent application “Methods and Systems for Digital Trust Architecture” was published on March 22nd by US Patent & Trademark Office, was initially filed in last September.

According to the application filed, the system will give trust to the users those are missing in their talent to sufficiently provide the preferred level of security citing concerns like transaction tampering and insecure messaging and among others.

The application mentions: “There are many superb reasons for online exchanges to continue as they have been. However, in a multi-party, open source environment, there is also a need for a secure, trusted, and enforceable online environment, to enable greater trust and therefore an expansion of offerings online.”

The system includes several components including one dedicated to email and another that provisions public and private keys for the user. It also mentions for a blockchain component that can be configured to receive records from the user and add the records to a blockchain. According to the application, some part will work in tandem to bridge the blockchain and email segments.

“In some aspects, the user email component is further configured to receive input indicating whether information indicating the transmission of the encrypted email body data is to be stored in a blockchain and store the information in a blockchain in response to the input,” the applications mentions.

The patent filing is a significant development, as sometime back the US Postal Services has announced that it could create its own cryptocurrency as well as technology for its own supply chain applications.