U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 12-04-2018, 08:25 PM
 
5,212 posts, read 1,478,405 times
Reputation: 5163

Advertisements

Thought this might interest some of you...



The Prophets of Cryptocurrency Survey the Boom and Bust
Future or fad?
Inside the ongoing argument over whether Bitcoin, Ethereum, and the blockchain are transforming the world

By Nick Paumgarten

Ethereum is not itself a cryptocurrency; to operate on Ethereum, you have to use the cryptocurrency ether, which, like bitcoin, you can buy or sell. (Among cryptocurrencies, ether’s market capitalization is second only to bitcoin’s.) The devs were specimens of an itinerant coder élite, engaged, wherever they turn up and to the exclusion of pretty much everything else, in the ongoing construction of an alternate global financial and computational infrastructure: a new way of handling money or identity, a system they describe as a better, decentralized version of the World Wide Web—a Web 3.0—more in keeping with the Internet’s early utopian promise than with the invidious, monopolistic hellscape it has become. They want to seize back the tubes, and the data—our lives—from Facebook, Google, and the new oligarchs of Silicon Valley.

https://
http://www.newyorker.com/magazine/20...-boom-and-bust
Reply With Quote Quick reply to this message

 
Old Today, 11:17 AM
 
9,177 posts, read 9,398,334 times
Reputation: 4740
The IOTA protocol is a Distributed Ledger Technology developed by the IOTA Foundation. This technology does not suffer from the exponential increase in electricity to maintain the system (like bitcoin). There is a crypto coin called iota, but the technology is being licensed by Sweden to use for their central bank issued digital currency that should be introduced in 2019.

Although the current coins are widely called crypto-currencies, they behave more like crypto-collectibles. While currencies do tend to go up and down in value, they don't normally change by such massive percentages.

The new generation of distributed ledger technologies issued by central banks should be more compatible with plain old fashioned banknotes. They will remain at parity with banknotes.Transactions will be final like banknotes and unlike credit card payments which can be disputed. They will not replace banknotes, nor will they replace commercial bank money which is based on debt, and is the most common type of money in developed nations.

There are legal limits with banknotes. You must fill out an IRS form before conducting any transaction over $10,000 in cash, or to carry more than $10,000 on an international flight. It is perfectly legal to do those things, but it is illegal to do them without filling out a form.

You can certainly expect some legal limitations on digital currency transactions. No central bank is interested in creating a means to easily launder money.
Reply With Quote Quick reply to this message
Reply

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top