Factors to consider before starting a Bitcoin ATM business ...
Bitcoin ATM manufacturer Lamassu moves to Switzerland ...
The Number of Bitcoin ATMs Hit 9,680 in September, a 167% ...
While some countries are trying to hamper the development of crypto, other countries like Switzerland is cashing in on the investments and new jobs that the industry brings. The latest example of this is the establishment of bitcoin ATM manufacturer Lamassu in Switzerland
Hi Bitcoiners! I’m back with the eleventh monthly Bitcoin news recap. For those unfamiliar, each day I pick out the most popularelevant/interesting stories in bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best), memeless overview of what happened in bitcoin over the past month. You can find recaps of the previous months on Bitcoinsnippets.com A recap of Bitcoin in November 2017
Li Lihui, Former President of Bank of China: We are in a period of great opportunities for the development of blockchain technology and industrial innovation
Source: https://www.chainnews.com/articles/946394501375.htm Source of this article:Sina Finance. This content is intended to convey more market information and does not constitute any investment advice. Sina Finance News On November 29, 2019, the ReFinTech Financial Technology Summit was held at Beijing New World Hotel. Li Lihui, the head of the China Mutual Fund Association's blockchain team and former president of the Bank of China, attended and gave a speech. The topic of the speech was "National Strategy and Fiat Digital Currency." Li Lihui said that digital currencies will play a central role in the global digital economy competition in the future, and it is necessary to step up research on feasible routes and implementation plans for the issuance of global digital currencies led by China. Digital finance is bound to further strengthen the globalization of finance. In the construction of the global system of digital finance, China should actively participate in and strive for the right to speak. It is necessary to strengthen international regulatory coordination, promote regulatory consensus, and establish a unified international regulatory standard for digital finance. Blockchain technology architecture Li Lihui pointed out that blockchain is an integrated innovation of multiple technologies and has the following four characteristics.
Chain block structure based on timestamp, it is difficult to tamper with the on-chain data; Real-time running system based on consensus algorithm, specified data can be shared; Based on self-rules of smart contracts, technical trust can be authenticated; Based on the end-to-end network of the encryption algorithm, the counterparties can choose each other.
https://preview.redd.it/zv2odshugye31.png?width=560&format=png&auto=webp&s=117b267d58f664f851f7d608b2c50a8f6d667c83 Since October 2017, Dobi Trade has grown exponentially with more than one million active users. Currently, Dobi Trade is ranked among the top-20 exchanges by www.coinmarketcap.com. Here are the 5 advantages of listing post-ICO tokens on Dobi Trade’s trading platform: 1)CHINA CALLING Dobi is a gateway for US and European-based projects looking to penetrate and access the China crypto-trading market that is one of the largest in the world. Additionally, Dobi’s in-house DOB stablecoin is pegged to the Chinese Yuan (RMB) as a dynamic hedging tool. The team at Dobi are capable of customizing bounty programs, contests, and giveaways unique to Chinese-speaking audience. This is done with the support of our strong network of Mainland affiliates and media partners. Individually appointed China-based account managers and specialists provide the support to our retail, institutional and OTC traders. 2)PHYSICAL ADVANTAGE Dobi is also the leading manufacturer and distributor of third-generation cryptocurrency ATMs that come replete with sleek industrial designs and responsive touchscreens. New digital assets listed on Dobi can be added to these bi-directional crypto-fiat dispensing ATMs. They also feature biometric fingerprint recognition capabilities and fraud deterrent safeguards. Used by many listing partners as an innovative value-added service for token HODL-ers, DOBI ATMs are also effective marketing tools. They are used by projects to demonstrate that anyone can buy, sell and trade cryptocurrencies conveniently in any physical setting. It doesn’t matter if it’s at their offices or at venues such as busy retail spaces and blockchain conventions. 3)RESEARCH AND DEVELOPMENT In this emerging industry, the ability to evolve is paramount and Dobi is in it for the long haul to ensure that projects listed will always receive the best technical and marketing support from an ecosystem that adapts to rapidly changing needs. Dobi has one of the biggest award-winning Blockchain R&D Centre in the Shen Zhen, China with expansion plans to South East-Asia, Europe, Africa and the USA. More than 150 blockchain professionals and software engineers provide solutions and applications for listing partners and clients looking to revolutionise traditional industries. 4)WORKOUT BUDDY Dobi is also the leading manufacturer of Moving Cloud Coin (MCC)’s consumer wearables with the world’s first mining smartwatch based on Proof of Effort (POE). Be rewarded with MCC and other tokens whether you’re breaking a sweat with an intense workout or a breezy stroll. Every step you take counts. Heart rate sensors and sleep monitoring functions are just some of the smartwatch features at your disposal. Gear up and get moving: as the very first blockchain digital and analogue timepieces, they are perfect for both the stylish modern man and woman. And like our ATMs, they are used by listed partners to engage their communities on a personal level that would not be possible otherwise by embedding their tokens into these mining watches to reward users. 5)LIQUID MATTER Dobi Trade boasts robust daily trading volume across all actively-traded token pairs, a user-friendly interface and low trading fees. Our success is evident with a fast-growing number of listed tokens. We also provide market making and price support services by creating two-way bids and offers for a liquid order book. Transfers and withdrawals are seamless and fast while a slew of attractive trading promotional initiatives rewards DOBItraders daily. Similarly, Dobi’s OTC peer-to-peer trading allows various nationalities to exchange their local currency for digital assets and its services support a wide range of payment methods, including Alipay, Wechat pay and Union pay. Listing process for ERC20 token and tokens using other protocol can be completed in a few days.
LIST WITH US
With more than US$160 million in daily transaction volume, our goal is to grow with listing partners who have placed their trust in us. Jointly, we can take the next step together as we grow from strength-to-strength when mainstream adoption and true use cases become apparent.
Mother Telegram Technology is an English cryptocurrency mining company
Mother Telegram Technology is an English cryptocurrency mining company. Officially registered in the UK since August 2019, Mother Telegram Technology, however, has an earlier history of creation and formation (for details, see the History of the company). Since January 2017, the company has been working professionally and quite successfully with Bitcoin ATM operators. 2018 has been manufacturing their own brands of cryptomatic, production takes place in Austria. Cryptomate the most powerful and modern equipment that support the exchange of all major altcoins, as well as perform the role of stores to entire retail chains. Recently Mother Telegram Technology does not only exchange e-gold for himself, rents cryptomate from different parts of the world out, and provides the ability to start without investments. Customers can choose the location and profitability of the leased terminal, calculate its profitability, payback period, size and volume of net profit. Since may this year, the company has been steadily increasing its own base of terminals, gaining momentum, launching Beta Mother Wallet in Telegram messenger. In the world of profitable crypto-currency programs at the moment there is hardly a better offer for earnings. And it's not just that the Mother Telegram Technology is a private telegram platform, decent interest rate, reasonable terms, etc. the Matter of stability and reliability, which we show are proud of, which we offer to our partners. Mother Telegram Technology has been developing steadily, showing medium-high rates of profit growth since its inception. The main goal is to increase the total number of terminals, competitiveness and efficiency. Achieve Mother Telegram Technology * Platform created in conjunction with Telegram. • The most reliable Telegram wallet. * Arbitrage revenue system within the Telegram network. * Conclusion of profitable contracts with terminal operators in more than 25 countries. * Creation of own software for terminals. The introduction of innovative business models for cryptomatic, their functionality is very broad and allows you to cover the outlets and the casino. * High interest rates on rental terminals for our tenants. Mother Telegram Technology is an excellent rental interest, the lowest prices for the cost of terminals, as well as an interesting and profitable affiliate program. More info https://motherwallet.net telegram @motherwalletbot
Trending Crypto News Roundup September 2019. Over the course of the month, we’ve come across news stories that created waves in the crypto field. NvestWeekly brings you the latest and most interesting hot news across the cryptocurrency and blockchain industry. Here’s a brief overview of what happened on our watch list: World’s ‘First’ Blockchain Smartphone “FINNEY” The Swiss-based smartphone from Sirin Lab, known as FINNEY, is going to be one of the safest and most expensive smartphones to both store and use cryptocurrency in a mobile environment. However, the phones designed and manufactured by Foxconn Technology Group, a Chinese electronics giant. Also, for honoring bitcoin pioneer Hal Finney, the smartphone is named “FINNEY.” Binance.US to Launch in Coming Weeks Trending Crypto News Roundup September 2019. Crypto Global Exchange Binance.US said that it would launch in the coming weeks. The crypto exchange said that Know Your Customer (KYC) process will start a few days before launch, where customers can, however, have ample time before live trading to verify account and deposit funds. The exchange claims that it is a fast, compliant, and secure digital asset marketplace. Also, it aims to provide best-in-class technology, speed, and execution of Binance to everyday users in the United States. Stellar Development Foundation to Airdrop $120 Million XLM Crypto Tokens The Stellar Development Foundation (SDF) has announced that it is launching a $120 million XML airdrop in collaboration with Keybase, an encrypted messenger. Likewise, it is the highest in the five-year history of Stellar, worth about $120 million. Bakkt Warehouse Bitcoins Have Insurance Policy Worth $125 Million Bakkt, ICE-backed exchange, has announced that the Bitcoin (BTC) deposited at the Bakkt Warehouse is protected by a $125 million insurance policy. Insurance policy news covering customer deposits erases another concern that Bakkt hopes to lure for institutional investors. Gemini Launches Regulated Custody Services Gemini, owned by Winklevoss twins, has announced the custody service for 18 cryptocurrencies. Although, the company has been providing custodial services since its launch on October 2015, they have considerably extended their range of products. Currently, the company supports 18 cryptos for custody: Bitcoin, Bitcoin Cash, Ether, Litecoin, Zcash, and the following ERC-20 tokens: 0x (ZRX), Augur (REP), Basic Attention (BAT), Bread (BRD), Dai (DAI), Decentraland (MANA), Enjin (ENJ), Flexacoin (FXC), Gemini dollar (GUSD), Kyber Network (KNC), Loom Network (LOOM), Maker (MKR), and OmiseGo (OMG). Coinbase Announces USDC Bootstrap Fund For DeFi Protocols Coinbase announced that it is investing $2 million in the USDC Bootstrap Fund to expand the Decentralized Finance (DeFi) ecosystem. DeFi or Decentralized Finance is the latest trend in blockchain space. However, DeFi projects are traditional financial products that you would expect from a conventional bank. Also, it is built on top of a blockchain, such as loan protocols and derivatives. Binance.US to Start Customer Registration Next Week Binance announced that it would begin registration and start accepting deposits from next week on 18 September 2019. The firm will provide updates on when trading is live for particular pairs shortly after registration opens. Also, the company is operated by BAM Trading Services and is based on Binance’s cutting edge matching engine and wallet services. Mastercard, R3 to Work on Blockchain-Based Payment Solutions Mastercard and R3, a leading provider of blockchain software, have announced a partnership to develop a new blockchain-enabled cross-border payment solution. However, the initial objective is to focus on connecting the world’s faster payment infrastructures, schemes, and banks supported by Mastercard’s clearing and settlement network. Domino’s Pizza Offers €100,000 Bitcoin Through Contest in France Attention Pizza and Bitcoin lovers! Now, having pizza can make you own bitcoins worth €100,000. However, Domino’s France amazed their fans with an exciting offer by launching an ordering contest with a Bitcoin (BTC) or cash reward of $100,000 for the winner Kakao’s Klay Cryptocurrency Debuts on Upbit South Korean giant, Kakao’s “Klay” token, a native cryptocurrency, launched on Klaytn blockchain, is making its first official trade listing on Upbit platform. Upbit is the South Korean fintech company Dunamu’s cryptocurrency global exchange. The crypto exchange supports more than 150 crypto assets. Bitcoin ATM Network Coinme Secures Funding from Ripple’s Xpring Coinme, the largest Bitcoin ATM network, announced that it had secured funding from the Ripple’s Xpring company for $1.5 million in a Series -A funding. The funding indicates that Ripples XRP will quickly be accessible on the more than 2,600 ATM kiosks network of Coinme. BlockFi Removes Minimums and Fees on BlockFi Interest Accounts (BIA) BlockFi, a cryptocurrency company announced that it had dropped all the minimums and fees for its BlockFi Interest Account (BIA). Additionally, BlockFi has also removed the early withdrawal penalty from the account and now offers all customers one free withdrawal per month. That’s it for this week. For more exciting news, watch this space. Seed CX Subsidiary Launches Crypto Derivatives Transaction Seed CX subsidiary Zero Hash has announced the launch of bilateral crypto derivatives transactions. As of now, the company will support all back-office settlement functions for forwards and have plans to expand soon. Also, this will attract financial institutions to settle derivatives on its platform. That’s all for this week. We’re going to keep you updated with more interesting news to move forward.
Below are some ideas I have been working on to allow direct off-blockchain transfer of Bitcoin Private Keys while preventing Double-Spend and Counterfeiting . There is a reference to tamper-proof Physical Bitcoin as DA BOMB- Directly Available Bitcoin On Metal Banknotes. These Physical Bitcoins and their digitally encrypted representations are the basis for off-blockchain exchange of value. Off-Blockchain exchanges are completely private and as fast as sending an email. FAST BITCOIN
DA BOMB bitcoin pools
Bitcoin Cash blockchain data storage
Daily settlement between corporations, instant settlement on trading or funded shopping channels, physical bitcoin possession for investors . Each platform which offers FAST BITCOIN will purchase a large amount of DA BOMB to power their digital envelope re-sale network. All networks will be compatible and fungible assets composed of. When a customer places an order for DA BOMB I load a certain amount of BTC in various denominations onto a selection of bitcoin wallets, which are then manufactured as physical bitcoin. This amount of BTC is the amount this customer can spend on the FAST BITCOIN network. The Bitcoin the customer spends never moves on the BTC Blockchain. The envelope containing the customer’s BTC is credited or debited a certain combination of addresses that contain a known amount of BTC, adding up to the exact amount of the transaction. Transactions can only be made in ROUND NUMBERS of a certain resolution, such as 0.0001 BTC , and the resolution will be finer at a later date to account for the rise of value of BTC in the future. The contents of a customer’s envelope will be maintained to allow for making change and to account for his spending or funding of his account. The main issuer of FAST BITCOIN will be Satoshi Bitcoin Incorporated, with other platforms buying enough DA BOMB to issue their own FAST BITCOIN on their own shopping platforms. Customers can always write to the platform and request that their remaining envelope balance be mailed to their physical address. The envelope contents are tracked on a separate blockchain, the FAST BITCOIN blockchain. Customers can use their physical bitcoin like paper money, or break the hologram seal and view the private key to use as regular bitcoin on the bitcoin blockchain. Only TRUSTED NODES are on the FAST BITCOIN Blockchain. The Network is composed of the corporate members who offer FAST BITCOIN shopping at their websites, and join by invitation only. Large networks can fuel their own branded shopping tokens with FAST BITCOIN after paying a co-branding fee, or simply use FAST BITCOIN without re-branding to their own token name. Software can equate all prices at a website to the token value of choice on the platform, so that the shopper may make purchases via FAST BITCOIN while referring to prices in stable fiat equivalent tokens, or re-branded token values. The customer’s purchasing power varies with the price of Bitcoin, but the visible prices remain stable. The customer may buy a StableCoin (not Tethers) to fund all or part of their account, or switch from BTC to StableCoin at will; or let the system do this for him. BTC going up, funding remains in BTC, BTC going down, Funding switches too StableCoin. A purely electronic version of FAST BITCOIN will rely on a hardware device to store the private keys offline and always in encrypted form when connected to the internet. There is object “A” : the FAST BITCOIN Wallet There is object “B” : the individual private keys The system works with a combination of Master System Key Encryption and Asymmetrical Key Encryption. The Hardware device is called a SPLIT WALLET. It is a combination of a HOT WALLET and a COLD WALLET. The two halves of the split wallet can only communicate with each other when the device is unplugged from the device being used to access the Internet. The Master System Key resides on the Cold Wallet and can’t be viewed without destroying the function of the Hardware Wallet. To send bitcoin to a person on the network, the hardware wallet takes the addresses needed to add up to the desired amount and encrypts them with the PUBLIC KEY of the receiving device. The BITCOIN CASH BLOCKCHAIN is used as a KEY SERVER to store the PUBLIC KEY of every device manufactured, linked to its registration number and owner identity. The OWNER IDENTITY is an EMAIL ADDRESS which is [[email protected]_BITCOIN.COM](mailto:[email protected]_bitcoin.com) . The addresses are encrypted by the SYSTEM MASTER KEY , then by the RECIPIENT PUBLIC KEY and emailed to the above email address. The whole network is sustained by a peer-to-peer email remailer network. Software on the machine used by the hardware device to connect to the INTERNET is designed to run a peer-to-peer email remailer node. As well as sending the recipient an email via the re-mailer network, an entry is made on the BITCOIN CASH BLOCKCHAIN containing the double encrypted bitcoin private keys, recipient email address, and transaction identifier . This also contains the device registration number as part of the owner email address. Thus even if the domain is blocked from sending email the information needed to use the bitcoin is available from the data stored on the BITCOIN CASH BLOCKCHAIN. The value of Bitcoin Cash does not impact the cost of sending bitcoin, since the transaction sizes to record data on its blockchain are very small. When FAST BITCOIN is sent to a recipient, he must plug his hardware device into a laptop, phone, or other internet device to download the keys to the device. At this time while the hardware device is still connected to the internet the just received FAST BITCOIN will not yet be available to spend. It will show on the device as STILL ENCRYPTED. The user unplugs the device from the internet and then transfers the amount from the COLD SIDE to the HOT SIDE of his wallet while offline. If he wishes he may leave this amount on the COLD SIDE or transfer up to the entire contents of the SPLIT WALLET to the HOT SIDE to enable immediate spending as soon as connected to the internet. The COLD SIDE contains the SYSTEM MASTER KEY and decrypts the PRIVATE BITCOIN KEYS in order to enable spending. The hardware device checks the bitcoin blockchain to verify the amount of bitcoin held by each bitcoin private key, and also checks that the private keys it contains map properly to the public bitcoin keys used to view the balance on the device when it is connected to the internet. DA Bomb Directly Available Bitcoin On Metal Banknote (Da Bomb) Bitcoin Metal Wallet Cold Storage on BTC Blockchain. A Crypto-Currency version of money, which may be exchanged for fiat currency. Other major cryptos such as Ethereum , LiteCoin, and Bitcoin Cash may be substituted for bitcoin without affecting the usefulness of this offering. These versions will come out later, using the same physical format. (hopefully patented) The design of the card should be modified enough from any existing patents to be patentable itself. The manufacturing, loading and documenting of the card should be done by proprietary and open-source software. This process should be patented as well or be part of the same patent. These are physical BTC coins, in the form of a metal card the size and shape of a credit card. The Bitcoin Wallet is composed of two sets of engraved alpha-numeric and QR codes highlighted by black ink. One set is public and is on the outside of the card. A pull-tab almost exactly like the kind on a soup can is removed from the front of the card to reveal the inner contents . This is the engraving of the private key which is required to spend the BTC. Viewing it or detecting the exact nature of this code is equivalent to ownership of the associated BTC. The public key on the outside of the card is used to deposit to or send to the card. In normal operations the card would come loaded with a certain amount of BTC. The cards will be protected by security features and the quality control process during their manufacture. The cards will be dipped in a coating of compounds to indicate a unique identity for each card, with short lengths of coloured fibres and paint floating on the surface of the clear lacquer compound and creating a unique visual identity. Each card is photographed and the image file uploaded to a database with the blockchain address and item id from manufacture all associated together. A label is created and affixed to the outside of the card. On it are the blockchain address, photo of the untampered card, and amount of BTC deposited to card. The private keys are not retained in file form at the manufacturer’s facility, or recorded in any way. Before the key is deleted from memory and fully erased from all data storage devices, the photo of the engraving of it is compared to the key via character recognition software. When photo verifies as true then key is deleted from memory. Now the card is tracked by my own “in-house” item id, linked in the database to the blockchain address which displays the public key, and the photo file of the card. The card is photographed twice, the photo of the private key is deleted just after verifying the engraving matches the private key. The photo of the exterior of the card showing the paint lines and fibre positions on the card is kept on file. The offline computer takes the photo of the private key, the online computer takes the photo of the card after dipping. The card is meant to circumvent the horribly high fees associated with using BTC as a payment method. Possession of the card is deemed to be legally equivalent to the ability to spend the associated BTC available via the private key. The nature of the tamper proof and hack proof aspects of the card manufacture lends credence to the continued value of the card as it is passed through consecutive transactions. The fees which would have been normally paid to enable these transactions on the Blockchain, will now have been saved by the people utilizing the physical Bitcoin cards. The Bitcoin transactions on the Blockchain are enabled by paying fees to “bitcoin miners”, who use large amounts of energy and computing power to solve complicated mathematical problems in order to process transactions and also to earn newly created bitcoins, of which there will only ever be 21,000,000. The fees for bitcoin transactions have become so high that paying for an item with bitcoin wouldn’t make sense for anything under $280 or so; and you had better be rich enough not to care about the $30 to $75 fee to buy just about any size purchase. Instead of this, cold wallets containing small denominations of BTC can be exchanged via strong encryption and sending password and wallet via different delivery modes; or by physical bitcoin wallets. At any time one may pull the tab on the metal card and reveal the private key, in order to obtain control of the BTC for use in a different cold wallet, or an online wallet. You will now have to pay transaction fees as per your new wallet details. There is an instant financial advantage as soon as a group of people trust the value of physical bitcoin in transactions. All the miner fees for each transaction done with physical bitcoin are saved by the group. These transactions are valued in BTC, worth real dollars if exchanged for dollars; but with the dollar value always changing. Volatility is a fact of life with Bitcoin (BTC), but the market has always trended upwards if you wait long enough. And the value has often nose-dived as well, in an unpredictable manner. A lot of people are holding (or “hodling”) BTC as a very risky and speculative investment, hoping the price will go up. There is a great demand for bitcoin and that demand is going to increase in the near future. How will I pay to load the BTC on to the cards? The cards will be loaded on an “on-demand” order process. The cards can be made up to a certain stage, where they have been dipped in tamper-proofing but not yet labeled. Up to this point they can be any denomination (amount) of BTC. When the payment for the order is taken at the online website then the card is loaded, labeled and shipped to the customer. Besides the metal coin wallets denominated in various amounts of BTC; there will be “piggy-bank” versions of the card available. The BTC is loaded onto the card via the visible wallet public key engraved on the front of the card. The card owner can be paid debts owed to him via the public key. The card owner can send any amount of BTC to this receive address and it will become associated via the blockchain with the private key hidden inside the card. To spend the BTC loaded onto the card he will have to view the private key and send it to the hot wallet he uses online. Technical advice about fees, security, hacking and safety will be available at the company website, as well as many other helpful resources. The denominated versions of the card are identical to the piggy-bank versions except for the label. The label covers the “receive” address on the denominated versions, as no further deposits to the blockchain are needed. The label on the piggy-bank version doesn’t cover the public key address, has a photo of the card and the manufacturer’s ID number. It also has a link to the Blockchain.info webpage associated with the public key address. Anyone with this address can see how much BTC is associated with the Public Key shown here. Thus the intact tamper-proof BTC Card can be used with confidence, as the public key can be viewed on the Blockchain by anyone. As long as the amount on the card label matches the amount shown on the Blockchain.info webpage then the card’s private key can be trusted. This renders the card a form of “trust-less” currency equivalent to legal tender in value and usefulness . The card format and manufacturing process is tested to obtain a hack proof product. The private key is not detectable by examination or any technical means without opening the pull-tab. This is essential to prevent theft and fraud. The card can not be opened, viewed , and sealed again. A card without a label would be suspect, a card which had been opened and re-sealed obvious. Checking the blockchain address reveals the status of the BTC in question in any event. The manufacturing process is outlined below:
A small computer runs software offline to generate unique Blockchain Key Pairs (bitcoin addresses). It is used to control a CNC router which engraves the keys onto thick enough metal strip to prevent x-ray detection after folding.
a press folds the strip over and makes the pull tab closure
a shear cuts the strip at end
robot welder heats perimeter of cut strip to weld shut
wallet has been hacked if it is bent or split open in any way
wallet is dipped in lacquer , photographed, BTC loaded and labeled.
BTC metal card is shipped to customer
during the “load” process a computer reads the “receive” address with a camera and automatically adds a transaction amount to send to that address , generating a cue of transactions from a wallet with miner fees adjusted to be very low, just barely confirming after paying the least amount possible. Transactions confirm in one or two days.
For loading customer requested bitcoin card wallets the option to pay higher fees is presented to the customer last time of purchase. This speeds up the loading and delivery process.
a machine prints the label and places it on strip over address.
The engraving is deep enough to be permanent but still not detected while wallet card is in closed position. The alpha-numeric and QR code versions of the keys are engraved and inked. After the engraving, the private key is deleted from memory of the engraving controlling computer. This computer is never connected to the internet. Only verified software is used on this computer. A separate computer controls the camera, label maker, and database connection to the internet.
The private key is replaced by an item number linked to the receive address.
a computer program makes a file which goes onto a new thumb drive
this thumb drive is loaded on the offline computer
thumb drive is passed to online computer hosting desktop wallet, set to low miner fees.
file is used to send BTC to wallet addresses
The same file is used to generate the labels. Addresses are checked for BTC before coin Cards are offered for sale. A second stamp is placed on label when transaction confirms. Coin is offered for sale at Amazon.com if allowed. Coins can be exchanged as if fiat currency, with full confidence in BTC amount displayed on seal. Sale price on Amazon will reflect BTC amount cost when loaded- possibly a great deal if BTC has gone up since loading, or actual cost of production plus 2%, plus miner fee and distribution fee. Savings could be significant if BTC surges in value after coins are minted. coins are bought at time of minting by purchases of BTC at market price. “Would you like to buy some free money?” Demand for product is assured, as the value once for sale at Amazon increases over time. You will not be able to find cheaper bitcoin anywhere, sometimes. A small portion of my stock at Amazon will remain on sale at a very low price when the Bitcoin price rises. I plan on adjusting the price of my stock to reflect the current price of Bitcoin at the time; but not all of it, and not immediately. Every time the price of BTC increases by 10%, I will reset the price of my cards to initial values. The initial values are the current price of BTC plus 2% , miner fees and distribution costs. As the market price increases after loading the cards, they are more and more of a deal for the customer. This forms the basis of a great promotional value to sell the metal card coin wallets. The profit. Profit is calculated to be 2% of the BTC value when minted. Values from 0.001 BTC to 1 BTC are minted. This generates from $0.18 Cad to $180 CAD per card depending on value. I will focus on minting in the 0.01 to 0.11 BTC range, with profits of $1.80 to $19.80 a card. customer pays: Cost of BTC when minted miner fees, distribution fees, 2% over cost fee, Cost of manufacture. I estimate all costs not BTC or profit to be about $11 Cad per card. Price of card is: BTC cost + 2% + $11.00 . After purchase the card can be traded for cash, items or value of services. Miner fees are saved by every person after the initial purchaser of the card. I want to mint around 1000 cards a day. This averages out to $18,000 profit per day. The plan is to produce only lower value coin wallets until cash reserves are big enough to pay for larger denominations. Customers can order from the lower denominations in stock or special order cards of any amount that they pay for at the time, shipped after production on demand. This involves simply loading the customer’s purchase of BTC onto the card address and attaching the label. As the price of BTC rises then stock available and loaded previously will be a special discount offer until the price resets after a ten percent increase in the BTC market value. When selling the BTC coin metal cards at Amazon.com :
customer satisfaction assured
charge-back possible upon return unopened and intact, blockchain must show BTC available , BTC must be recovered to separate address
product legitimate and not forged or hacked
sell BTC coins from private website as well
website certified by CA
credit cards accepted
product return possible
Build reliable reputation
sell coins at vending machines
accept coins for cash at vending machines
make coins cheaper and better than BTC ATMs or Localbitcoin.com dealer purchases.
encourage retailers to accept physical coins, to avoid the transaction fees
Physical coins can be checked for valid BTC amounts on Blockchain before being accepted for purchase
Merchant can scan private key to cash conversion Bitcoin wallet “receive” address at a bitcoin exchange to obtain the current value of the BTC in cash without having to worry about the coin being hacked already or of losing money should the price of BTC fall immediately after payment.
Card is dipped in clear sealer with paint filaments floating in dip tank. Also small lengths of coloured fibre are floating in the resin coating. The unique pattern formed is photographed and printed on label stored in database with item number. Private key is not stored. Sell in vending machines in Japan, Airports,New York Subway System, Pizza Hut, etc. On the Directly Available Bitcoin On Metal Banknote (Da Bomb), the blockchain webpage address of the public key is displayed. To check that BTC are in the account, just go to that page. Unless tampered with, BTC amount will match that shown on label. Full label is artwork, denomination in BTC, photo and blockchain.info webpage address associated with public key. This idea is patentable due to the unique packaging of the cold bitcoin wallet in a pull-tab metal card. In this writing read “coin” as “card” as well. The card is evolved out of a sardine can with a pull tab lid closure, with very short sides and pressed flat all around the edge. The goal is to have a design where the pull tab can easily be removed by an adult. It should be hard for a child to open without being shown how. The card should be only slightly thicker than a regular credit card, and not open while in a leather wallet’s card holder.The pull tab should not open accidentally while being carried in a wallet. The pull tab will be manufactured so that it must be rotated by 180 degrees before opening. A small screwdriver, nail file or fingernail must be placed into a small slot to twist the pull tab into the correct position to open, before this it is restrained by a shallow metal lip on the top of the card. Research and development are required for this idea to be a success. The manufacturing process, security features and bitcoin loading and labeling must all be tested and verified as hack and tamper-proof. The customer must never receive a hacked or empty or unloaded card after purchase and delivery. Attempts at fraud by the customer will be obvious. Only Intact cards will be accepted for refund. Product must always ship in perfect condition, as customer can only return intact card for full refund, no opened, missing or tampered with cards will be credited to customer for refund, and this will be part of the agreement with the customer at time of purchase. Before refund the balance of the card must match the denomination on the label. Notes on manufacturing process:
I want to use a modified can forming machine to make the cards. They range in price from $25,000 to $400,000 .
there is a need to research the pull tab forming process.
the card “lid” must come off easy enough so that the tab will never break off first
the card must be made of very thin metal, but must not have sharp edges, be bent easily, or be readable on the inside while closed and sealed.
the goal is a card that is the same size and shape as any other bank card. The card should not be much thicker than 2mm at the most.
the patent development should focus on the card itself, the way the pull tab is tucked under the top before being twisted into position before pulling open, and second on the loading BTC process.
the process of generating the Private/Public alpha-numeric key pair, conversion to QR codes, engraving ,photographing and verifying codes; must be established in such a way as to prevent errors, fraud and unsaleable cards. no one should ever have the ability or opportunity to obtain the private keys or interfere with the engraving or photo process.
note that in photos of mock-up below: QR code and alpha-numeric public key versions would be covered by the label indicating the amount, and if a “piggy-bank” version no amount would appear on label. Only the public and private keys are engraved on the metal, the label has all the other information on it. Some artwork is engraved inside the card. If card design is not impervious to examination, lead or gold foil layers could be incorporated.
In the above I refer to not recording the private keys and deleting the server records as soon as the cards have been manufactured and checked for accuracy. please note that the recording of the private key for a certain amount of DA BOMB is required to power the FAST BITCOIN encrypted private key network. thank-you
The ALCEDO-Platform contains all functions necessary for handling any and all crypto transactions. The ALCEDO-Ecosystem (platform) can handle different types of crypto machines, wallets and coins. Due to the fact that we programmed and developed this system, we can implement new features quickly and easily, anytime. We continuously improve the system, and that represents a focal point of our project. We source our crypto-vending machines (2-way) from reputable manufacturers (GeneralBytes, Lamassu). By integrating the machines into the ALCEDO-Platform, we can also integrate other crypto machines. The independence from the manufacturers guarantees an efficient and cost-effective trade at our ALCEDO-Points. The K-ATM’s run with a specially developed API connection (different from anybody else) and thus we have the latest crypto prices for buying and selling. We also offer the exchange of crypto currencies in fiat money (Euro) and vice versa. All transactions are recorded in the database on the ALCEDO-Platform and provided by request. #ALCEDO #Blockchain #Investing #Alcedoico #TokenSale #Crowdsale #Bitcoin
Pundi X ecosystem handled a total of 26,380 crypto transactions valued at 3.9 million in USD during the 1st quarter of 2019. Registered XWallet users have increased to 179,982 as of April 10. XPOS has been shipped to 30 countries.
By integrating a collection feature, we are making XWallet a virtual mini-XPOS. Users can be part of the XPOS merchant network by becoming verified merchants from the XWallet app. Staking and conversion are also integrated into XWallet app and available for KYC verified users.
XPOS Handy, a more affordable version of XPOS, is now in production. 2,000 units will be produced. The team is also looking into expanding XPOS into traditional POS units platforms and has started working on one of the top two POS brands for integration. Product Development Overview
Due to the conversion, the token removal in 2019 will reflect the result of both NPXS / NPXSXEM utilization and NPXS / NPXSXEM conversion to FX. For example, the amount of Q1 token removal will be announced in the first week of May 2019 and the execution will take place in the second week of May.
Below is a summary of the Q&A with community members.
Q: How many live working XPOS are there in the world right now? Understand the plan was 100,000 in 2021. But recent news is only talking about someone maybe buying 1000 in 2021.
Is the delay in scaling XPOS because of the licenses which Pundi X doesn’t have yet? If yes, when can we expect it to be approved or denied?
Zac: The pick up rate during Q1 isn’t moving as fast partly due to the bear market. Another contributing factor of which some of you may be aware, is that we have been working on obtaining the relevant FCC and CE certifications for the XPOS as it’s a requirement by most governments. We are pleased to announce that the XPOS has been officially certified. It’s in fact the first blockchain based POS device that has been given the CE certificate. And with this, we will begin to accelerate to get the XPOS compliant with the different markets and increase the activation rate of the XPOS. For example, in Dubai, we are working with the local credit bureau to apply for an approval with the local regulators using our CE Certificate as the base document. The same goes for Korea’s KC certification. So yes, a lot of things have been moving behind the scenes and one thing that is clear is whatever we do, it is to play the long-term game. Hence, we had to make sure that we have all the relevant required certification for the XPOS before we take it to the next level of deployment.
Q: How many XPOS transactions (by coins) have been done so far (since the start)?
Zac: The XPOS and XWallet have handled a total of $3.9M USD in Q1 outbound transaction.
Q: Will there be a major partnership such as with Uber or Amazon to use the XPOS? Any strong partnerships in the works for the XPOS?Any upcoming big deals for the xpos ? Like Starbucks, etc? And did Pundi X ever get in contact with Kroger?
Zac: As always, similar to other business deals, due to confidentiality agreements, we do not comment on major partnerships until it’s firmed up or announced first by our counterparties. One thing for sure, we are working hard to engage established global enterprises (especially those) with a large distribution network and footprint. In addition to that, we are exploring the expansion of our XPOS solution footprint by integrating the XPOS into one of the Top 2 point-of-sale manufacturers. We will share the process and details once we have completed the testing.
Q: Any updates on a Pundi X collaboration with Dubai government?
Zac: We are in the process of getting the XPOS certified with the local government authorities. And now that the XPOS has the CE certificate, it will accelerate the approval process in Dubai.
Q: When is the XPOS capable of handling credit card payments?
Zac: We have reached out to various parties that can provide and activate these services and that includes meeting the CEO of MasterCard, Mr Ajay, in person. He has seen our XPOS and from what I could tell, he was impressed.
Q: When will you add XRP to XPOS?
Zac: The XPOS is a digital currency-neutral device. When there’s enough demand and a real need from an organization or company, we would not hesitate to add it to our XPOS ecosystem.
Q: When will the XPOS have WePay, AliPay, Samsung and Apple pay?
Zac: XPOS itself is hardware-ready for these payment methods. To activate these services, we will be required to comply with the local regulations in different jurisdictions and work with the providers of payment gateways.
Q: Can we get a merchant map, similar to bitcoin ATMs?
Zac: The team is working on this. In the first phase, we will have a list of the featured merchants. We are targeting to have a “lite” version of this “featured merchant” map ready by end-May. We are finalizing the name but you can call it the X-MAP where you can locate your favourite XPOS merchants or X-Merchants.
Q: Does Pundi X have plans to support stable coins?
Zac: Our XPOS merchants already have access to the stable coin feature, but for regular consumers, the option to have stable coin is not available yet. However we foresee turning on this feature soon.
Q: China and Thailand should be supplied with XPOS via some partner. The news was big but that was over a year ago. What’s the status in these two key markets?
Zac: China’s stance against Cryptocurrency is still a no-go. The news that was mentioned a year ago refers to our license distributor called XPOT (they had a kick off event a year ago where Mr. Prachuab Chaiyasan, Former Minister of Foreign Affairs of Thailand was one of the attendees). XPOT is our licensed distributor and I believe they are still in discussion with the local governments and pending the environment to change. Regarding Thailand, we are in talks; with possible partnerships in this market. Please stay tuned.
Q: What are the current legal issues Pundi X is facing in USA, Germany and Canada?
Zac: Regulatory bodies are still ambiguous about their policies toward cryptocurrencies. As previously mentioned, we will continue to monitor the situation in the different markets and be compliant so that as soon as there is clarity in the market, we will be in a prime position to move in.
Q: When is Pundi X expanding to India? I was at your Mumbai Meetup but we are still waiting
Zac: We are awaiting RBI’s permission too, as crypto is still frowned upon by the local authorities.
Q: A long time before the public token sale, at the pre-sale stage, Pundi X said they have a working product and simply needs the funding to pay for a huge production and then give out XPOS devices for free. The cost per device is somehow USD 200–300, depending on order volume and a USD 3,000 investment would yield a minimum of 10 XPOS Devices. After enough funds raised, the token sale got capped and more funds raised. Then the XPOS got remodeled and went for sale. What happened with the initial idea of giving 10,000+ devices out for free?
Zac: As previously mentioned, pre-public token sale participants who purchased > 30 ETH are entitled to a free XPOS. If you haven’t claimed yours, please reach out to us. Also in the pipeline, we are working with some non-profit organizations to provide free XPOS for their usage.
On the XWallet
Q: Will you add a stable coin to XWallet?
Zac: Yes, we will. Someone has asked the same thing about XPOS. It will likely be added around the same time for XPOS, XWallet and XPASS.
Q: Can we add the bank transfers to XWallet? Basically to liquidate on the XWallet for sending money to my bank account?
Zac: This is my personal favorite feature to have and it’s on my wishlist. In order to support fiat, we need to have a Payment Service License / E-Money License / Stored-value license in a jurisdiction that supports a particular fiat. For example, if it’s EURO, we will need to apply for a license or lease it via a partner for this to work. We are definitely exploring the different possibilities but we are unable to elaborate more on when, or if it is happening, as this also requires more talks with the different local jurisdictions. Q: Turkish holders would like to ask when can we partner with master / visa and integrate with XWallet? Zac: As mentioned earlier, we have reached out to various parties that might be able to activate these services.
On Q3 to Q4 Plans
Q: What’s the plan for Q3 and Q4 for this year?
Zac: There are tons of things we are working on for Q3 and Q4.I will broadly separate it into: Developer ecosystem — The developer ecosystem allows traditional and tech companies to onboard themselves into the XPOS and XWallet ecosystem, such as listing of their custom tokens, advertising etc. These services will all require the usage of NPXS and NPXSXEM tokens. Partnerships — We are likely to partner with incumbent retail chain stores payment companies, incumbent POS companies that have deep distribution network to help expand the reach of XPOS, XWallet, XPASS, etc. Governmental level efforts — We started off with Dubai and since then, several other governments have shown interest. We see this as an opportune time to engage forward-thinking governments to build a blockchain ecosystem in their city and country. Our Team: we will continue to invest and grow our R&D team capabilities as they represent the heart of Pundi X. If any engineer or developer is keen to help us to scale, please get in touch with us. We are actually looking for engineers as I speak.
On NPXS and Token Removal
Q: What is the quarterly token removal from the NPXS usage of the XPOS and the burned amount for Q1 2019.
Zac: Good question. Some holders may be aware that token removal includes the result from the conversion. The amount of Q1 token removal will be announced in the 1st week of May and we will execute the removal in the 2ndweek of May.
Q: Pundi X has mentioned a monthly coin burn and a monthly buy back. Why hasn’t this happened yet?
Zac: It is not monthly. We are doing a quarterly token removal.
Q: People feel that the current token burn isn’t as transparent as many wish. What can be done to improve this process and make it more transparent? The biggest upset was after the ULTRA festival where Pundi X just wrote “we ain’t allowed to talk numbers.”Could there be a daily or weekly ticker? Is that possible?
Zac: That’s a good suggestion. While a daily ticker might be challenging, we certainly can try exploring incorporating a ticker update towards all token removal or scheduled for the next one.
Q: Zac, you have mentioned previously that someone was trading against NPXS. What did you guys do about this problem?
Zac: There are trading teams, market makers, financial institutions that profit from the drop and rise of token prices in the crypto market and it’s not something that is unique to NPXS. In fact, the traditional stock markets have similar challenges as well. We have taken the “the best defense is a good offense” strategy which is to continue to strengthen our tokens; such as create more use cases, drive more adoption and more distribution to ensure our tokens are well positioned and stronger than ever.
Q: Why do you not do any great marketing and generate publicity for NPXS, e.g., advertise on television stations in major and in different countries? I generally see marketing as very important to the company’s success. And I hope to see real partnerships, not just with small shops or restaurants.
Zac: We rarely engage in paid partnerships as it doesn’t necessarily produce the best ROI in terms of investment and in this market condition, we believe in being financially prudent. Being in a decentralized environment, we consider ourselves as a community-driven company.The impact of organic press coverage driven by our community is always stronger. We do want to be seen on all major news channels and we will do that via “thought leadership brand building.” As a testament to our growing reputation, recently, we were invited to speak at the Fintech Ideas Festival event and be on the same stage as the senior executives and CEOs of Wells Fargo, COO and CTO of Bank of America and other large institutions. We see this as the right step forward in growing our brand appeal to the masses.
On the QEX Fund
Q: Any update on the QEX fund?
Zac: The QEX fund is led by Vic Tham,CEO and Fen Chao Yong, COO, at Quantum Energy Asset Management, also known as QEAM. Other than being the CEO of QEAM, Vic is also Pundi X’s Chief Investment Officer. From what we know, they are in the midst of raising funds, book building, analyzing potential projects & companies and strengthening the portfolio for QEX. It’s an ongoing effort for this year and a very exciting one. We are extremely excited to see potential breakthrough projects that could benefit our ecosystem. And if anyone has questions or interests, please do reach out to Vic Tham and his team at QEAM.
On Function X
Q: What is the update on devs program for the Function X ecosystem?
Zac: Many keen developers are eagerly waiting for it, and I know Billy who has posted this question is one of them. We are working on it right now, we can’t commit on the dates yet but developer support is a big part of our ecosystem. We are working tirelessly, and sometimes “sleeplessly” to get this out.
Q: Did you use “investors”/ token holders funds to develop Function X? And instead of giving the 65% FX tokens to NPXS and NPXSXEM holders, you are getting them to choose between NPXS/NPXSXEM and FX token?
Zac: 65% of the FX tokens from Token Generation Event (TGE) is already allocated for NPXS / NPXSXEM token holders, via staking and/or conversion. There are two separate projects with teams working on it. For the XPOS ecosystem to flourish, it requires a more scalable platform/solution which is the Function X ecosystem. The Function X foundation will be announced in Q3 and hopefully it will be a pleasant surprise. We will have a solid team to grow the Function X ecosystem.
Q: Will Pundi X be less focused on NPXS once FX goes live?
Zac: No, we think it’s mutually beneficial. If I may use an analogy, it’s like Google Search and Android, one product will lift the other up. The other example would be salt and pepper. When used in combination, it will drastically improve the taste of any particular dish.
Q: What is the relationship between the future f(x) coin and the future NPXSFX token? Is the former used in the FX ecosystem (XPhones) and the latter used in the XPOS ecosystem? If so, would buying something using the XPhone going to burn FX coins, NPXSFX tokens, both or none?
Zac: Think of the role of f(x) coin like how ETH is. Everything or any service that’s taking place in the Function X ecosystem will require the f(x) coin. For NPXS which will be ported over to the Function X blockchain once the Function X mainnet is up and running, its utility will remain the same. Any payment-relevant services or activities on the Function X blockchain will require NPXS, which on the Function X mainnet will be tentatively called NPXSFX.
Q: For FX Tokens, the lock up of 1 year is too long for us to wait. Can we change the option to shorten the duration?
Zac: The mechanism in place has been designed for the long term, so unfortunately, we can’t change the option. Users have the choice whether to convert his NPXS and NPXSXEM, or not, into f(x) coin, if a user chooses to convert he will receive 12% immediately and 8% each month for the next 11 months.
Q: Will F(x) be available to those who couldn’t stake or convert? Will it be before the staking period end or after? When will F(x) be available to purchase on an exchange for those in countries who were not allowed to stake? Will it be during the staking period or after?
Zac: Soon we hope. As per our policy, we are unable to comment on listing dates, but with our established relationships with exchanges, we do hope it will be quick.
Q: We were all impressed by the Uber Dapp demos running on F(x), but these days Tron and EOS are getting a lot of press about Dapps too. What advantages will F(x) have over those platforms?
Zac: Each platform will have its own advantages, we welcome the competition and hope that more popular apps such as the decentralized Uber app can be conceived from Function X.
Q: Why is there no cap on f(x) tokens? When will you explain how the tokenomics will work?
Zac: I would encourage all to have a look at our concept paper on functionx.io and the Medium blog post as the details are explained thoroughly there.
Q: Have you already secured deals with other companies like Sony, Samsung, etc with the Function X OS to build other blockchain phones? Or do you plan to keep the Function X software to just the 5000 phone you already made?
Zac: The 5,000 XPhones serves as a proof-of-concept, for manufacturers and developers to have a test drive. We want to partner with hardware/smartphone companies and telcos to build their own version of the blockchain phones with Function X. And we are still working hard to engage with the companies to push for future blockchain phones and strengthen our Function X ecosystem.
Q: Will the XPhone work as a mobile point-of-sale (mPOS) device like the XPOS Handy?
Zac: The XPhone comes preinstalled with the XWallet and with that, it can double up as a lite version of the XPOS with QR code and NFC Support.
Q: When will XPOS Handy be ready?
Zac: XPOS Handy will be available in the coming weeks.
What Billions in Fed Repo Injections Reveal About the Promise of Bitcoin
Article by Coindesk: Michael J Casey Last week, the Federal Reserve injected $278 billion into the securities repurchase, or “repo,” market over four days, all so that banks could meet their liquidity needs. It was the first time the Fed had intervened in this vital interbank market, where banks’ pawn financial assets to fund overnight cash needs, since the financial crisis of 2008. Fed officials and bankers dismissed the rare liquidity breakdown as a hiccup stemming from a series of coincidental factors in bond markets and corporate tax payments. It wasn’t a very comforting explanation, not when other economic warning signs are flashing, too: $17 trillion in bonds worldwide showing negative yields; a worsening U.S.-China trade war; and manufacturing indicators signaling an impending global recession. Predictably, certain crypto types have viewed this alarming scenario with glee. More than a few HODLing tweeters responded to the repo story with two words of advice: “buy bitcoin.” But it’s actually hard to predict what all this means for crypto markets, at least in the short- to medium-term. If and when a 2008-like financial panic takes hold, will bitcoin rally as a new kind of uncorrelated “safe haven” or will it decline in a broad-based “risk-off” dumping of all things speculative? (Notwithstanding a sharp dip and rebound midway through last week, bitcoin has proven quite stable of late, at least by its own volatile standards.) Other questions: do these vulnerabilities in traditional credit markets highlight the promise of new blockchain-based ideas? For example, would wider use of security tokens allow speedier settlement and, by extension, reduced counterparty risks and greater market confidence? Or, far more radically, would MakerDAO’s on-chain #DeFi lending markets enable a more reliable clearing mechanism, with collateral calls locked in by a decentralized protocol? Or might these underdeveloped ideas simply be recipes for systemic risk, a single hack or software glitch away from setting off a vicious spiral of collateral calls and bankruptcies? The jury is out on all this untested stuff. Still, if nothing else, the many signs of stress in the traditional financial system offer a valuable framework for thinking about how the world could be different and the role blockchain technology might play in enabling that new world. Let’s look at some of them:
The rare phenomenon, where creditors are essentially paying issuers for the privilege of lending them money — head scratcher, right? — reflects excessive demand for “safe” assets, especially for government-issued bonds. It has historically been a strong indicator of impending recession, since it reflects an overwhelming reluctance among investors to take on risk. Now, another way of thinking about that reluctance is to express it as a perceived shortage of good investment opportunities. That perception can be fueled by a worsening economic outlook, but it’s also dictated by the barriers to entry that make it difficult for otherwise investable businesses of offer new opportunities. Here, certain blockchain-based credit ideas offer hope. There’s the prospect for distributed-ledger asset registries that better track collateral and enable new emerging-market lending in developing-country land, commodities and energy markets. Or there are ideas such as having exporters tokenize their receivables to tackle a major structural limit on global trade finance, where a majority of small-and-medium enterprise are denied letters of credit because bankers don’t trust their documentation. Effective use of blockchain technology could boost trust in assets and lien registries and help bring to life the $20 trillion in “dead capital” that economist Hernando de Soto says the world’s poor are sitting on. Just as importantly, it would open a world of new alternative assets to draw in investors’ capital, giving them less of a reason to park it in low-yielding bonds.
Global economic slowdown
An alarming, synchronized downturn in manufacturing indicators, most notably in purchasing manager indexes, which measure current and future business spending on inventory and equipment, flows directly from the U.S.-China trade war. In cutting off Chinese goods exporters from U.S. consumer markets and driving up costs for their U.S. importers — and vice versa for U.S. farmers selling to food distributors in China — the conflict has added a massive new burden on global economic activity. But let’s look at the starting point for this trade battle. It lies in American companies’ mostly legitimate complaints about China’s mercantilist, centrally planned approach to supporting Chinese companies at their expense, all enabled by a system of surveillance and control over people and businesses. This where there’s a crypto angle. Cryptocurrency and other decentralizing technologies could work against the Chinese government’s capacity to control its economy in this interventionist manner. If Chinese businesses and hundreds of millions of Chinese citizens used bitcoin to circumvent capital controls, for example, the ever-present risk of monetary flight would act as a pressure valve, compelling Beijing to pursue a more open economic model to maintain competitiveness. That would give anti-free-traders like President Trump less of an excuse to ratchet up protectionist attacks against it.
The repo intervention
Some innovators have sought to apply blockchain technology to the back-office structural problems that periodically roil money markets, such as those now manifest in repo. They see a distributed ledger as a superior mechanism for tracking the IOUs of money and pawned securities upon which inter-institutional credit markets are based. One was former J.P. Morgan credit market maven Blythe Masters, who founded Digital Asset Holdings in 2014 on the idea that on-chain settlement and a universally auditable ledger could improve transparency in global finance’s opaque, complex matrix of interconnected credit relationships. This way, she argued, it could mitigate the mistrust and counterparty risks that fueled the financial crisis. The DAH model and those of others working on back-office blockchain solutions for capital markets have not come to fruition. This is at least partly due to the reluctance of incumbent financial institutions and their regulators to kill off existing functions that a blockchain would make redundant; they instead designed cumbersome hybrid distributed-ledger models that sustained vested interests but were expensive and difficult to collectively implement. Either way, a blockchain back-office fix for traditional finance isn’t coming any time soon — whether because of internal politics or the limitation of the technology.
Shining a light
A more important question is why we even tolerate a system that’s so vulnerable to those back-end markets’ problems at all. The only reason central banks ever intervene to support interbank credit markets is because society’s means of payment depends on avoiding cash shortfalls and maintaining confidence in fractional-reserve banking. If banks don’t have enough cash to meet short-term creditor calls, they would suffer runs on their deposits, companies wouldn’t make payroll, tenants would have to skip rent, ATMs would run out of banknotes, etc. The economy would seize up. The worst of it is that, because of this ever-present threat, banks hold our political system to ransom, knowing that they can always rely bailouts: the too-big-to-fail problem. But what if banks just stuck to longer-term lending? What if there were no checking accounts or debit/credit cards, and we simply exchanged value with each other via cash or digital currencies that we hold ourselves? If people used bitcoin, or fiat-backed stablecoins or central bank digital currencies to exchange value instead of the IOUs of an inherently fragile fractional reserve banking system, institutional cash shortages simply wouldn’t matter as much. Banks’ biggest creditors might take a hit against their risk-adjusted positions and their stock prices would fall, but the rest of us, including the Fed, could ignore the problem. As the journalist and commentator Heidi Moore astutely observed in a tweetstorm last week, the reason the repo market tumult is so worrying is because it speaks directly to the core problem of trust in the banking system. If nothing else, this is where blockchain technology provides a valuable lens with which to assess the current stress in the financial system. It helps us think about how the trust problem creates vulnerabilities, power imbalances and systemic risks and how we might design a system that’s better able to resolve it. Federal Reserve image via Shutterstock
-Public servants must give up foreign nationalities or job, rules SC The Supreme Court on Saturday directed the authorities concerned to set a deadline for dual nationality holders to either rescind their foreign nationalities or resign from their job immediately. Headed by Chief Justice Mian Saqib Nisar, a three-judge bench of the apex court announced its judgement in a case pertaining to public servants holding dual nationalities. It directed the authorities to develop criteria and standard operating procedures (SOPs) requiring disclosure of intent to seek such foreign nationalities and permanent residence permits and adopt methods to check such instances and enforce penalties for no-disclosure. -Pakistan has been elected as the Vice President and the Rapporteur of the Conference of Parties (COP) to the United Nations convention on climate change Pakistan has been elected as the Vice President and the Rapporteur of the Conference of Parties (COP) to the United Nations Framework Convention on Climate Change, at COP 24 in Katowice, Poland. Pakistan was one of the two countries elected to the position from Asia-Pacific Group, by acclamation on December 15, a Foreign Office statement said. The other bodies in which Pakistan secured seats included the Executive Board of Clean Development Mechanism (CDM), Standing Committee on Finance (SCF), Adaptation Committee (AC), Consultative Group of Experts (CGE), and Technology Executive Committee (TEC). -First ever ATM installed in North Waziristan -COAS confirms death sentence to 15 hardcore terrorists Chief of Army Staff (COAS) General Qamar Javed Bajwa on Sunday confirmed the death sentence awarded to 15 hardcore terrorists involved in heinous offences related to terrorism. The terrorists who were tried and awarded capital punishments by special military courts were involved in attacks on the armed forces, law enforcement agencies, abetting suicide bombers in an attack on Christian Colony near Peshawar, destruction of educational institutions and killing of innocent civilians, according to the Inter-Service Public Relations (ISPR). -Government to help in every possible way for PIA’s revival: minister Federal Minister for Privatization Muhammad Mian Soomro has said that the PTI- led federal government will provide all possible help for the revival of Pakistan International Airlines (PIA), ARY News reported on Sunday. The federal minister visited PIA Headquarters and met CEO of PIA, Air Marshal Arshad Malik to get briefing about the current position of the organization. “Government will help in every possible way for PIA’s revival,” adding it [PIA] is moving in positive direction now. Mr Soomro said government is committed to transform PIA into profitable organization as it was in the past. -Gas supply resumed to CNG sector Federal Minister for Petroleum Ghulam Sarwar Khan on Saturday announced that the supply of Compressed Natural Gas (CNG) was estored in Karachi and Sindh at around 8PM. ddressing media in Karachi alongside Governor Sindh Imran Ismail, the petroleum minister said that the days long crisis will be over as the supply was restored to CNG sector at 8PM. -“Japanese firms to invest in Pakistan’s steel, baby formula milk industries” Adviser to Prime Minister on Commerce, Textile and Industries Abdul Razak Dawood said that officials from major Japanese firms are scheduled to visit Pakistan next month for making investments in country’s steel and baby formula milk industries. Speaking at a press conference, Dawood informed that last month Japanese companies assured to invest in Pakistan during the bilateral trade talks in Japan. He said a delegation of Japanese companies, manufacturing steel and baby formula milk, will be visiting Pakistan after January 15. Moreover, the Japanese government also promised to allocate skill development and technology development funds for small industries in Pakistan, the PM adviser said. -Aleem Khan vows initiate large-scale development projects in Punjab Punjab Senior Minister Abdul Aleem Khan on Sunday vowed to initiate large-scale development projects across the province on emergency basis. Talking to journalists at Punjab secretariat, Aleem Khan said the Pakistan Tehreek-e-Insaf government will soon devise policy to regularize the slums in the province. He said that provision of potable water to every locality is government’s responsibility and added that their party will fulfill all the promises made with the masses. The minister also listen public complaints on the occasion and said that the government will not make any compromise on public issues. He said that 908 complaints have been registered so far at the public secretariat and added that out of 815 complaints had been addressed. -CPEC to increase Pakistan GDP growth by 3% Muhammad Saleem Acting High Commissioner (HC) of Pakistan while speaking at Belt and Road Initiative (BRI) conference arranged by Carleton University said through CPEC Pakistan will become an energy secure country and its GDP growth will increase by 2-3pc. He said early harvest energy and infrastructure projects, created 40,000 local jobs and the new projects will usher into an era of development and prosperity. Speaking on the occasion, Chinese Ambassador to Canada, Mr. Lu Shaye said that BRI is not a geo-political tool but it is a new approach to international development and prosperity and it aims to advance economic and trade coordination among regional countries. A large number of academics, diplomats, media persons, businessmen and students attended the conference. -Yet another mini budget on cards from PTI government Yet another mini budget is on cards from the PTI government in a bid to bridge the gap of the increasing revenue shortfall. Federal government is considering major revenue measures including raising the GST rate on POL products, slapping tax on the telecom companies, reversing the tax relief for salaried class by 50 percent and increasing the tax rate on cigarettes by reviewing the existing third tier taxation system. The jacking up of additional custom duty by 1 percent is also among the proposals floated by the FBR to achieve the revenue targets. The Federal Minister for Finance Asad Umar is currently visiting abroad so after his return the government could take final decision on finalising additional revenue measures to bridge the yawning revenue shortfall within the next couple of weeks. -In a historical move, Smart Cards replace old registration books in Punjab Punjab government starts issueing smart cards as replacement of vehicle registration books from tomorrow to facilitate the citizens. According to sources at Punjab Excise Department , all arrangements for the new registration system have been finalized. The source said the machines procured for the smart cards can prepare nearly twenty-two thousand cards daily. -PM Imran Khan issues stern instructions to FIA, crackdown on cards across country in next 24 hours Prime Minister Imran Khan on Sunday has issued stern instructions to the Federal Investigation Agency (FIA). FIA has been ordered to keep its offices 24 hours open in Karachi while teams were formed for action against bitcoin and sell of illegal cards of foreign tv channels. Earlier on November 30, Prime Minister Imran Khan had directed the concerned authorities to finalize a new legislation to effectively deal with the offences related to money laundering. -Russia expresses desire to enhance trilateral partnership with Pakistan, China Alexey Y Dedov, the ambassador of the Russian Federation in Pakistan, hailed the move of the South Asain giant to open the Kartarpur Corridor for Sikh pilgrims in India. According to details, the envoy, speaking at Pakistan Institute of International Affairs on the topic of “Russia’s Stabilising Role in South Asia”, stated that Pakistan’s decision of opening Kartarpur border shows the country’s commitment towards peace and stability in the region. He further appreciated Pakistan’s military crackdown against militants present inside its border under the operations of Radd-ul-Fasaad and Zarb-e-Azb. -Canadian diplomats laud Pakistan as attractive tourist destination A ten-member delegation of Canadian Embassy Islamabad Saturday visited the archaeological sites in Takhtbhai and evinced keen interest in the historical remains of Gandhara civilization. The members of the delegation in their comments on the occasion held Pakistan an attractive tourist country. Pakistan is a peaceful country and its people are peace loving and hospitable, they added. -Pakistan Railways announces to launch VIP trains across Pakistan Pakistan Railways minister stressed that steps are being taken to improve the standard of Pakistan Railways and to provide maximum relief to the people. “New passenger and freight trains will be inaugurated soon including a new train between Lahore and Rawalpindi,” he announced. Sheikh Rashid invited the private sectors to contribute in the development of railways, adding that VIP trains will be launched soon with the collaboration of private partners. -Pakistan emerging as favourite tourist destination for French and European tourists Pakistan is emerging as favourite and preferred tourists destination for French and European tourists, it has been revealed. More and more French and European tourists are opting for Pakistan as a ‘preferred destination’ for tourism purpose, Radio Pakistan reported. According to details, the representatives of the top tour operators of France called on Ambassador of Pakistan to France Moin ul Haque in the French capital for a debriefing session. The representatives of French tour company recently visited Pakistan in September on a two-week long trip. They prepared their separate presentations to brief the Pakistani ambassador about their journey which gave them first-hand experience of tourism potential of Pakistan. -Russia to support Pakistan in economic challenges: Ambassador hints at renewed pledge Ambassador of Russia , Mr. Alexey Dedov has expressed Russian desire to enhance economic ties with Pakistan. The Ambassador of Russia remained with the Governor Sindh for sometime and discussed matters pertaining to mutual interests particularly on partnership in economy, trade and finance. The Ambassador said that Russia welcomes the determination of Pakistani Government to promptly respond to economic challenges of the Country and energy crisis. -For the first time in history, Pakistan and Hollywood to come up with an interesting joint venture Paksiatni directors and Hollywood filmmakers are collaborating for the very first time in history. The acclaimed filmmakers from the East and the West are working together on a supernatural thriller titled Djinn. A new production house ‘Wingman Films’ is going to mark an entry with this multicultural concept venture. Pakistani producer Ali Murtaza, who is also working on "The Legend of Maula Jatt" these days, shared the details of upcoming venture Djinn saying that the movie will be based on a 17-year-old hero from Pakistan’s northern areas who will be struggling to recover ‘lost stones’ and keep the world from being taken over by djinns. Due to this reason, the show will be featuring episodes from the US and China in its first season. -PM may set up poverty alleviation unit at his office Prime Minister Imran Khan may set up a poverty alleviation unit at his office, to be headed by a special assistant, for implementing a new broad-based strategy to pull millions of people out of poverty. About 16 government and semi-government organisations will liaison with the office of special assistant on poverty alleviation and social protection, said sources in the PM Office. -Govt finalises 5-year tariff policy Adviser to Prime Minister on Commerce, Textile and Industries Abdul Razak Dawood has announced that the government has finalised a five-year national tariff policy aimed at restricting duties on raw material and machinery imports for export-based industries. “We are making efforts to rationalise certain taxes and regulatory and customs duties,” he said. “At present, there exists roughly 34 different taxes and the government is planning to reduce them to 12 or eight in the next couple of years.” It would assist the leadership to remove a key impediment in the way of ease of doing business, the adviser emphasised, adding that he was well aware of the challenges faced by the business community regarding tax slabs and tariff lines. -Number of taxes to be reduced from 34 to eight for ease of doing business: Razzak Dawood The business community is suffering a lot in shape of multiple tax slabs and tariff lines. The government is working to rationalize taxes, regulatory and customs duties, Adviser to the Prime Minister on Commerce Abdul Razzak Dawood said while addressing the ‘Emerging Pakistan’ ceremony organized by the Rawalpindi Chamber of Commerce and Industry (RCCI). There are around 34 different taxes and the government is planning to shrink to 12 or eight in next couple of years, he said, adding that this would help in meeting the challenge of one core impediment in ease of doing business. He said that the government had finalized the five-year national tariff policy to bring down tariffs on raw material and machinery imports for export-based industries. -Services exports jump 14.28pc, trade deficit falls 49pc in October The services exports from Pakistan surged by 14.28 per cent to $470 million in October, as compared to the exports during the same month of the previous year. The trade deficit of services also fell sharply by 49.05 per cent during the month as it decreased to $195 million against the trade deficit of $382 million in the same month of previous year, according to latest data of Pakistan Bureau of Statistics (PBS). The imports of services declined by 16.25 per cent to $665 million in the corresponding month as compared to import of $794.02 million in October 2017. Meanwhile, the trade deficit of services during first four months of current fiscal year (2018-19) also shrank by 33.75 per cent as exports increased by 2.13 per cent and imports fell by 15.47 per cent during the period, as compared to the period from July-October of 2017-18. -Govt to promote Pakistan-made furniture at international markets Advisor to Prime Minister on Commerce, Textile and Industrial Production and Investment, Abdul Razak Dawood, Sunday said that the government was taking all possible measures to promote Pakistan-made products at local and international markets and special incentive packages would be given to strengthening manufacturing in furniture sector to boost the exports. The advisor was speaking at the prize distribution ceremony at the concluding day of 3-day “Interiors Pakistan” international exhibition at Expo Center, organised by Pakistan Furniture Council (PFC). Dawood also appreciated PFC Chief Executive Mian Kashif Ashfaq for holding a successful exhibition and said PFC deserved appreciation for promoting the culture of local brands to strengthen the national economy. -Economic revival, industrial boost top agenda of govt: Usman Prime Minister’s Special Assistant on Youth Affairs Usman Dar Sunday said that economic revival and boosting industries were the top agenda of the present government and all-out efforts were being made in that regard. In a meeting of surgical instruments’ manufactures and exporters in Sialkot, Dar said that PTI government was taking the business community and other stakeholders on-board for economic progress and development. Punjab Minister for Special Education Ch Muhammad Ikhlaq, SIMAP Chairman Khalilur Rehman Mughal and Muhammad Jehangir Bajwa were also present. -Govt Likely to Allow More Than One Duty Free Phones for Overseas Pakistanis After facing strong criticism, as well as concerns from the overseas Pakistanis on new mobile import policy, the government is considering revising the policy and may allow at least two duty free phones. -SBP Orders Installation of CCTV Cameras at Exchange Companies to Curb Money Laundering The State Bank of Pakistan (SBP) is planning to tighten the monitoring of exchange companies through CCTV cameras in order to curb money laundering and terror financing in the country. The central bank said that the directives regarding the monitoring of exchange companies are mandatory for continuing their business in Pakistan. -PIA takes multiple initiatives to come out of huge losses Air Marshal Arshad Malik apprised the Aviation Minister about the current management initiatives such as reopening of routes, new destinations being planned to increase the airline’s network, improvement in food service, scheduling, and cost savings. -Pakistan Economic indicators start to take 'u turn' towards positive trajectory: Report Various stats and figures. -Punjab's first Vehicle Registration Card or Digital Vehicle Smart Cards by the Excise and Taxation Department being Printed on site -Pak China Steel Mill inaugurated at Port Qasim A joint venture of Pak-China, Jianbang Group of China and a well-established of Pakistan has installed a first ever pig iron plant at Port Qasim Karachi, which is now inaugurated. The plant is now operational, as per the information the inauguration of this mill has been done on December 2018, there was big presentation of media at the event. The inauguration is done by the Chairman of Jianbang Group, Mr Wu Xianonian, whereas the partner of Pak China Steel, Mr. Lee Feelix as well as the directors Mr. Jam Asif and director Mr. Mustafa Dawood and Head of Marketing Mr. Sheharyar Khan hosted the event, Production capacity of the plant is 8000 tons per month total, at the current the stage company is only producing is 5000 tons. -Islamabad Police To Reward Citizens Over Good Driving Good Citizen Patrol Team will observe the drivers in Islamabad Capital Territory. Islamabad (Pakistan Point News – 15th December, 2018) The Islamabad police will now reward the citizens over following traffic rules. Minister of State for Interior Shehryar Afridi launched the Good Citizen Patrol Team on Saturday. The patrolling team will observe the drivers in Islamabad Capital Territory. Not only that, they will give some reward to the good drivers in Islamabad.
Why Korea and Bithumb are still bullish since the beginning of 2018. Add ICX into the mix and imagine the possibilities.
I’ll be honest ICX makes up about 1% of my portfolio. I was crazy salty having missed the ICO when I was going to put 20% of my portfolio in for investment ... oh what glory that would have been. I’m tied up in ICOs and missed this train already, but prepare for more pumps based on UpBit listing and all the other top exchanges in Korea aside from CoinOne (I don’t know why, this is what I heard from our little birds.) Now... I just want you guys to make some connections with previous news about Bithumb and ICX and then put two and two together. Bithumb ATMS: https://twitter.com/cryptoofkorea/status/971455112295038977?s=21 Last month, Bithumb partnered with three kiosk manufacturers – Uno Space, TROS Systems, and IYU. These firms supply kiosks optimized for small businesses such as food and beverage franchises, small restaurants, and cafes. The platform offers over 50,000 accommodation facilities like hotels, inns and campers. The platform may support 12 cryptocurrencies including: Bitcoin, Bitcoin Cash, Ripple, Ether, Ethereum classic, EOS, qtum, Monero, Litecoin, ZCash, Bitcoin Gold and Dash. NUMBER 13... ICONNNNNEEEEECCCCTTTTTT. Bithumb Partners with Major Online Shopping Malls: https://twitter.com/cryptoofkorea/status/957760622128697345?s=21 They are also kicking off the launch of their Bithumb Pro exchange by listing ICON. What is Bithumb Pro? Think GDAX for Coinbase. Bithumb is clearly trying to reposition themselves as the number one exchange within Korea as they intend to climb back as a top market player here not only with transactions, but also helping crypto use cases. UpBit has been slow to act on this front, but I’m sure they have many things up and coming to compete with Bithumb over. What we need as a community, the Blockchain community behind our desires for money, is actual utilization of these technologies. We are speculating on decentralization. If you’re here for both let’s remember the end goal... lambros before green doughs. (Steps off pedestal.) Korea is definitely bullish on crypto, and this FUD market since January is coming to a close as the curtains are being pulled back on all the action that’s been taking place behind the scenes as major players accumulate.
Why Decentralization is a naive dream, why BTC cannot achieve it completely, why Satoshi Nakamoto may be a Intelligence Service creation and why it all may be a good thing. Plus some warm and fuzzy philosophy at the end.
Hello everyone. I am new to reddit and have created this account to hear your thoughts on the topics that I am now going to present to you. I really like cryptocurrencies and blockchain technology as a whole, but I am increasingly disillusioned by some interesting facts that I had not thought about until now. I would love to hear from you and learn from your responses and insights. Have fun reading and all the best to you. Concretely, I want to discuss: (1) The theory that true decentralization is a naive dream because of the physical infrastructure that underlies all web-based transactions and which is being controlled by the exact elite Bitcoiners aim to disrupt. (2) All web-based protocols and also BTC run on top of hardware that is in the hands of highly centralized companies and Internet providers that collect personal data all the time. (3) BTC cannot decouple from the current financial system because the growth of the BTC-Network requires capital, which in turn favors those who possess the investment-power a.k.a. the already rich. (4) The highly unlikely theory that intelligence services neglected the danger BTC poses to the current financial systems and its masters. I want to ask how it can be possible that the entirety of intelligence services (who had an eye on the dark web from the beginning and must have known about BTC and its disruptive potential) have failed to foresee the danger it poses to the empire of the dollar and their masters?! They didn`t IMO and I`m playing with the thought that BTC has been introduced by some financial elite as a test environment to make people become accustomed to the idea of digital currencies for later introduction of crypto-dollars. It would explain the anonymity of Satoshi for once. Also, it would only make sense because you have to accustom the masses to new ideas and let them get a taste of it before you spend countless billions on resources and processes on something that has been completely unknown up to this point. Just imagine how we would have reacted if Amazon or HSBC suddenly declared that from now on they will only trade something called Crypto-dollar?! It would have resulted in a hard rejection imo and would have pushed back the introduction of cashless societies many years. But for now, let me begin by stating some obvious facts about the physical infrastructure that is needed in order to keep the interweb and the BTC-network running and why it actually serves the centralized powers most and is therefore far from decentralized.
Some people seem to forget that each and every digital transaction is still hosted by some form of hardware. Be it actual servers, undersea cables, satellites, your PC or mobile phone or the mere electricity supply coming from electricity plants, the interweb and also the bitcoin network is fundamentally relying on these essential hardware components. Let me ask you: who controls this hardware? All of this infrastructure is far from being decentralized. It is being controlled by elitist, centralized companies all wanting to maintain their power and control for the sake of future profits and influence. Prove me wrong.
Saying that BTC is decentralized is like saying that cake can be made without flour, butter and eggs (no, you cannot post a vegan recipe here). There is always a need for physical resources and the BTC network is no exception. And since this physical infrastructure is more fundamental to BTC than BTC itself and since these physical hardware components are being manufactured, controlled and tied to dollar-based industries of centralized companies BTC is essentially relying on the very systems of centralized powers it aims to decouple from. Also, this fundamental physical infrastructure upon which BTC runs is upheld not by BTC but by national currencies such as the dollar. And since it requires dollars to build, run and maintain the physical infrastructure of the BTC network it is those who posses the most dollars who have the most power over it. (more on this topic on point 4) Am I wrong here guys?! Please enlighten me.
Furthermore, when it comes to the internet internet itself, which is the digital infrastructure of the BTC network and acts as its access point, we are all relying on internet providers and PC`s themselves, which are all in the hands of multinational companies that have been proven to collect our data. Remember, the internet itself is an invention first created within large corporations and has then been adapted and refined by the military. Who controls, stores and regulates the majority of internet traffic in nuclear bunkers and high-security warehouses all around the world? Certainly not us bitcoiners. Remember, data is the new gold. Wanna connect to the BTC-Network? Sign up to a centralized internet provider and buy a PC or a mobile phone first! It`s so obvious and it has become so normal that we forget that the essential hardware needed to live out our naive dreams of decentralization is actually in the hands of highly centralized and elitist companies and individuals like Apple, Microsoft, AT&T, etc. And guess what, they are all connected to banks and the monetary system! So, when we support them by buying their products to build the infrastructure upon which we run our network of decentralized illusions we are actually paying those very institutions, which some people here want to overthrow. It`s absolutely crazy if you think about it.
Some examples. Exaggerated I know, but there`s some truth in it: „Oh yeah, let me buy the newest phone from a centralized company that collects all my data to look at my decentralized currency on a centralized app that collects my data too.“ „Oh boy, let me buy this mining rig from a centralized company with federally issued money and let me plug into the centralized electricity supply that makes me completely dependent on state controlled infrastructure in order to make a decentralized transaction on my centralized exchange that is funded by investments of banking institutions getting boners from all the countless transaction fees that arise from me trading myself into a wreck of despair.“ You cannot help but laugh at our own naivity sometimes, can you? I`m guilty of these examples myself so please don`t think that I`m picking on you. After all, I started to think more deeply about the entire topic of BTC because I screwed up myself. So, we`ve been allowed to play with cryptocurrencies so far, but do you really think the Dollar-based empire would let such a disruptive technology evolve if it didn`t benefit the current power structures in the end?
This point is actually huge. It`s about Investment power. Remember, the bitcoin network still relies on hardware components in order to run at all. These components are expensive and require a lot of maintenance. Now, who has got the most investment power and money supply to buy, run and maintain these components? The normie next door ranting on his iPhone about how he will free himself from centralized powers because it`s trendy atm? No. The tech-savy nerd trying to mine dogecoin for lulz? No. It`s the already wealthy, it`s the guys who already have the liquidity to scoop up the rising technologies of the future. After all, this is the game they`ve been playing for a long time and which has made them wealthy and powerful in the first place! And guess what they are in for? Compassion and decentralization of power? You`d be naive to think so for even the ordinary crypto-enthusiast aims to ruthlessly accumulate as much BTC in their OWN account as possible and compared to these guys we absolutely suck at it.
In terms of developing cryptographic web-based applications and secure data transmissions who do you think is most involved in such research and development? Freedom loving, open-source saints with hearts of pure gold and benevolence? Sure there are many of them and I`m truly grateful for their effort. But you`d be foolish to think that they have been spear-heading this development. It`s the military industrial complex as it has always been because they have the incentive, the resources, the infrastructure, the competition from rivaling nations, the recruitement processes and the best brains on the planet to work on these things. Also, any new patent that is submitted is being vetted by national security agencies and if it poses a threat to the nation and its socio-economic processes, its publication will be withheld until the necessary countermeasures have been taken. There has been a fungus researcher (Paul Stamets) who has developed a process to extract something of interest out of portobello mushrooms whose patent application has been removed because it posed a threat to national security (there is a Joe rogan podcast where he explained it all)! If intelligence agencies are able to detect the threat a fungus can pose how the hell could you possibly believe that a technology able to disrupt the global monopoly of the dollar goes undetected?! Especially considering that the intelligence agencies have had an eye on the dark web from the beginning. If they wanted to stop BTC`s rise they would have had the time to do so. The fact that they didn`t and the fact that the U.S. seems to want to introduce BTC and cryptographic payments to the masses makes me think really hard about the disruptive potential that we tell ourselves BTC has.
Knowing about the way power structures work and knowing about the far reach of intelligence services and global elites I must conclude that this entire crypto hype is actually allowed to happen, maybe has even been fabricated intentionally and thus decentralization is actually a catch-phrase for more centralization and an extension of power for the elites. Satoshi Nakamoto is a ghost because he does not exist and has been fabricated for the sake of this anonymous introduction of a new financial system. It`s really startling to realize this. It seems as if we are being deliberately mesmerized once again with the seeming promise of personal freedom and decentralization only to buy into and strengthen the elitist power structures that underlie this technology. One must understand that access to infrastructure, technological innovation and also the personal empowerment of the masses is a two-edged sword. Because everything that we use to improve our lives with, every new technology, every resource and behaviour is being weighed against the impact such implementation would impose onto the distribution of power in the global economy, banking institutions and multinational corporations. For example: Sure, there may already be a patent for a working long-distance hydrogen motor and a concept to produce it cost-effectively. It would seemingly improve many environmental problems and slow the greenhouse effect. But you know what? If it were to be introduced at once the Petrol industry, the petrol based automotive industry and all its connected industries and networks of power would suffer a blow that is detrimental to global economics. We all want a clean atmosphere. But guess what? Innovation MUST ALWAYS be supportive of current economic processes and global powers for if they get disrupted the very system that upholds the lives of the ordinary citizen would get disrupted too. The fact that Bitcoin is allowed to continue its rise shows me that it is actually supportive of current political and institutional powers and not as liberating as many people hope it is. So, what does this mean? It`s very simple. There is no such thing as innovation or disruption from the bottom up at this point. (Except maybe large-scale strikes and coordinated revolution) You see, global power and global economy are not separated entities. They are one and the same and in the hands of a few compared to entire human population. Thus technological advance and empowerment of the masses is not a process that is guided by ethics and benevolence but a process that is judged by whether or not it helps to maintain or improve the current power structures and economic processes that human civilization depends upon. Certainly, BTC and pseudo-decentralized networks can be an incredibly valuable tool to advance certain interests, improve many processes and to expand certain structures of influence for both elite institutions and ordinary citizens as well. It will not go away. BTC will grow and be used the masses. But remember, always remember: That, which the masses love is the best tool to control the masses as well. For they do not know that the thing they love does not belong to them completely because it is always linked to some fundamental infrastructure or resource that is controlled by others. And yet, being able to use or pay for a technology that you do not own entirely is better than not being able to use it all, isn`t it? So, what does this all mean to us crypto-enthusiasts? We must come to accept that compromises must be made. We cannot have it all. There is some amount of external, centralized control that we must become comfortable to accept. Already, the power structures that we aimed to disrupt have taken over the BTC universe. Who owns most BTC? Jup, a tiny amount of lucky fews who have had the investment potential to buy up all the nice BTC´s in the first place. Who owns the largest mining facilities and who owns the physical carrier network of cables, satellites, processors and electricity? Guess what, it`s not you, not me, nor Mr. Nakamoto. It`s the global corporations as always. Who owns and controls global data transmission infrastructure upon which blockchain protocols and the entire internet are running? Jup, not me, not you, but the same powers that we aim to disrupt. Who is most advanced in cryptographic technologies and secure data transmissions and who would be able to come up with and introduce concepts of cryptocurrencies without being shut down by the masters of the dollar? Jup, the military industrial complex in conjunction with the intelligence agencies vetting and regulating pending patents and their application. The clues just add up my fellow introverts. I cannot hide from them anymore and wanted to hear your opinion on it. But after all these disruptive ideas I wanted to end on a positive note. You see, we cannot change the fact that human civilization is a construct that demands compromise in order to function at all. We are all different in terms of our level of knowledge, personal development and ideology. I cannot have it all, nor do you. But if we make some compromises we can live together peacefully and progress to a level that benefits all of us. In terms of disruptive technologies and the advancement of human civilization we must accept that you cannot introduce something to society for which we are not ready. And in our current state of development this means that technological advancement must not disrupt global power hierarchies and socio-economic process too heavily for this is the system upon which we build our lives and upon which our wellbeing depends. And it is indeed a fragile one. Yes, I hate the excesses of corruption and manipulation that occurs in the financial sector same as you do. But I know that I cannot tear it down at once for it would harm many processes that offer me and my family much opportunity, comfort and wellbeing in the long run. Sure, our systems are flawed and even sick in some cases. Sure, people are afraid to loose power and are afraid what would happen when other people gain too much power. Thus the keeping of power over others by our leaders and elites is fundamentally an effect caused by us humans being afraid of each other. To truly advance in a liberated and unhindered pace we must first overcome the fear of each other. Because in that fear lies all our trouble. We fear to not have enough resources, we fear to loose influence and power, we fear to loose our culture through the growth of another, we fear to loose our wealth through inflation and all the while we forget that we could actually be kind to each other and cooperate in spite of it all. We fear too much and sometimes we do so for good reason. As long as this does not change and as long as we do not grow up as one human family there will always be the desire to rule, to control and to deceive those who we fear. In that regard we can actually be thankful for having all the nice technology that we have atm. We can also be thankful to be able (or to be allowed or even lured into) to use cryptocurrencies. The fact that this empowerment through technology comes with a certain degree of control and centralization may actually be a good thing. It reflects our current state of development as the human beings that we are. Always striving to advance forward, but fearful of what we or others may find. Thus we tread cautiously, making sure that we control each step that we take for we may not know where our steps lead us next. Keeping some control and power to ourselves is the trait of a fearful mind wanting to move forward towards freedom. It`s a sane reaction. In that we are all the same. Bitcoin maximalists as well as bankers. Compromise. It`s the magic word and it`s what is necessary if two fearful minds want to advance together in peace. I want to end here now and I want to thank you for your attention. I am thrilled about all the developments that are going to take place in 2019. I wish the cryptosphere nothing but the best and hope that you all may get rich both physically (or digitally rather) as well as emotionally.
Why Everyone Should Get Involved in Bitcoin ATM: To Users and Business Entrepreneurs
In this article you'll get:
the overall bitcoin ATM industry market
Reasons why use bitcoin ATM
Why start bitcoin ATM business via bitcoin ATMs
Either you are nobody of bitcoin or an enthusiastic of crypto currency investing, you must be familiar or at least of no strange to Bitcoin ATM or crypto currency ATM. As is mentioned everywhere, like in this article “Beginner's Guideline: What's Bitcoin ATM and How to Use Bitcoin ATM?”, crypto currency ATM provide cash deposit and withdraw service as well as buying/selling crypto coin with cash by connecting to exchange or other crypto trading platform. It’s no strange that you see Bitcoin everywhere in USA, like in coffee bar, shopping mall, railway station, etc. Because the cryptocurrency ATM industry is dramatically growing and cryptocurrency and bitcoin ATM is tend to wide adoption. https://preview.redd.it/roxar4fdr7x11.png?width=803&format=png&auto=webp&s=28da9d950b1ce6f69fc0c93950ad0e12edf6f392 CoinatmRadar reported over 3500 bitcoin ATMs worldwide with surging increase from 2017. And there are more than 31 manufacturers and over 400 operators worldwide at the mid of August. Obviously as crypto currency is on the trend, bitcoin might work as fiat money as we use today. Crypto ATM is becoming prosperous in diversity. The majorities of us are so excited about the Bitcoin ATM. But do you know where the excitement comes? Absolutely because it has so much practical use to the industry and users. For your better understanding of cyrptocurrency and bitcoin ATM, here I listed some of the advantages of Bitcoin ATMs.
1. To bitcoin ATM Uses
Convenient：Buy bitcoin or other coins anywhere easily
Bitcoin ATM works as an alternative of exchanges, provide very easy access for anyone to invest in crypto world. Instead of the troublesome process trading on exchange platforms, users just need to use insert cash and buying directly. No bothers to send driver license, or phone numbers for ID verification.
No risk of personal information leakage thanks to decentralization
It’s decentralization. Buying bitcoins anywhere seems the most attractive functions, but its value actually consist in its decentralization with blockchain technology. As it all known that blockchain is anonymous which allows cash to bicoin converting with risk of no bank account or identity credential. Bitcoin ATM doesn’t collect personal information after all. Here is how transaction goes on bitcoin ATM: Cash,ATM, Phone wallet（cold wallet），Trade done
Bring blockchain to real life
Most of the majority of us really don’t understand the “encryption algorithm technology keeps our asset safe and the “mining” and “Peer-to-peer” network brings the bitcoin address out in the blockchain world. Nor do we know about the complex k line in digital exchange platform which needs some financial knowledge. This drags the wide application of blockchain technology like what internet does. But bitcoin ATM does help by bringing them into real life. Bring the blockchain or complex digital exchange to daily use. No exchange, no the so cold 2. To Bitcoin ATM business startup
Growing Popularity means demands which in return boost Bitcoin ATM trading. The crypto market is expanding. Every day, new investors are learning about the advantages of blockchain technology. This demand is creating a unique opportunity for savvy entrepreneurs looking to position themselves in the market before mainstream adoption. Bitcoin ATMs bring a new level of convenience to the crypto market, by allowing any individual to purchase crypto directly. This is also an increase of cryptocurrency awareness which therefore will boost the whole industry.
Low-cost to enter crypto startup world
Some crypto-ATM watcher hesitate to start the business due to the high cost like in software, hardware and maintenance fee, etc. But this is the most cost-effective project in the blockchain world, compared with crypto mining, digital exchange. No much high electricity to mine BTC. Currently, an average cost of one single bitcoin is $4758. No need to hire a lot of staff, no additional hardware, etc. Check out this article if you have no idea what the cost to start up bitcoin ATM business. ( ********) As it is already known that bitcoin ATM cost mainly comes from hardware, software, connection to hot wallet. Let’s have a look at how bitcoin ATM saves your startup cost: Bitcoin is purchased from exchange and transformed to Bitcoin ATM. Most bitcoin ATM preprogramed with exchange and you don’t need to stock a hot wallet. This is where the startup cost save. Because most bitcoin ATM manufacturer also have business in digital exchange, wallet, etc. Another one is that compared with other sectors in blockchain world, the Bitcoin ATM business is the most low-cost and most suitable for you to get started in crypto currency. To start an exchange, you need ****; as for mining pool, the electricity is horribly high. It’s reported on news that to mine. One BTC cost $1900 electricity. This is a huge amount which is not the norm of us can afford.
Direct Access to ICOs
In the crypto sphere, there is many ICO demand from token projects. Bitcoin ATM provide access to purchase BTC, ETH and LTC, etc. Besides directly connecting to exchange, token companies would love to list their coins in bitcoin ATM for the sake of ICO as well as branding. Eventually, the access to ICO finally add more business and trading on your bitcoin ATM so as to earn more liquidity and profit.
You must have founded that there’s little mention on its disadvantage. I personally don’t see any. If there has to be, then it’s the fees that everybody complaints about. But I believe people would willing to buy convenience even with 10% fees. Just like the tradition ATMs do. It’s a time problem. From the user’s side, bitcoin ATM is convenience and easy to get in real life; From the Bitcoin ATM business startup, it’s low-cost and its indirect ICO access provide the ease to entering crypto world. Overall, crypto currency ATM helps solve the problem of; and the adoption of cryptocurrency and blockchain by bringing it to real life. Everybody can use crytocurrency and everyone knows and habited to use it just like the internet. This is the real essence of crypto currency. Only the concept solve problem and be widely used that lasts. And only you can decide if a Bitcoin ATM is the right or not. DOBI ATM is an excellent software developer and hardware manufacturer.
This is the leading Bitcoin ATM manufacturer today, with 3500+ locations worldwide (source: coinatmradar.com). The Genesis Coin Inc company currently offers two flagship models, Genesis1 and Satoshi1. We’ll cover the Genesis1 Bitcoin ATM by Genesis Coin, and here are its features: Bitcoinatm.com's - Homepage. 2-way use (buy and sell) Best-in-class bill validator; Dedicated thermal printer ... Bitcoin ATM manufacturer Lamassu moves to Switzerland Thu, 03 Jan 2019, 04:46 am UTC Well-known bitcoin ATM manufacturer Lamassu has announced that it has moved to Swiss canton of Lucerne. Bitcoin ATM business profitability calculation — return on investment Calculator Theoretical calculations Practical use cases Bitcoin ATM map (you can submit Bitcoin ATM to be added) Disclaimer. Administration of the CoinATMRadar site doesn't own or operate any Bitcoin ATM. All examples provided on this page are collected from publicly ... Bitcoin ATM History. Canada is credited for installing the first ever Bitcoin ATM on 29th October 2013. Nevertheless, there was an attempt to launch an ATM in the US earlier that year. A cigar bar in Albuquerque, New Mexico opened the unit in February. However, it was shut down in the next 30 days due to lack of regulatory compliance. As Bitcoin and cryptocurrencies continue to gain popularity, running a Bitcoin ATM can be a lucrative business opportunity. This can be especially profitable if your target business location has a large number of people who are Bitcoin or cryptocurrency savvy. If you are thinking of setting up a Bitcoin ATM business in your neighborhood or you see a high-value location, then, this post comes ...
Withdrawing Nearly $3,000 From a Bitcoin ATM - Bitcoin Is REAL!!! 😂 Send $3 If You Found This Useful https://cash.app/$IHAVResources ** I HAV Resources is a ... Starting My Bitcoin ATM Business Part 2 - Duration: 9:48. Derek Lester 2,817 views. 9:48. Starting My Bitcoin ATM Business Part 3 - Duration: 5:45. Derek Lester 1,594 views. 5:45. Starting My ... This week is ATM week! In the first of the series, I’m joined by Gil & Eric co-founders of Athena Bitcoin, one of the largest Bitcoin ATM operators in the industry. They share their insider ... these bitcoin ATM providers might be coming to a city near you. They allow for the purchase of bitcoins for cash, and vice versa, and are an attractive starting point for prospective bitcoiners. Bitcoin ATM How to Guide ! Ton of information and research on owning and operating a bitcoin cryptocurrency ATM machine. I am including several links at the very bottom of this description. also ...