VeChain is a cryptocurrency platform designed to enhance supply chain management processes. The VeChain platform aims to connect technologies such as NFC, RFID, QR codes, and barcodes with products so the items can be tracked to prevent counterfeiting.
As for mining Bitcoins, the process requires electrical energy. Miners solve complex mathematical problems, and the reward is more Bitcoins generated and awarded to them. Miners also verify transactions and prevent fraud, so more miners equals faster, more reliable, and more secure transactions.
: any form of currency that only exists digitally, that usually has no central issuing or regulating authority but instead uses a decentralized system to record transactions and manage the issuance of new units, and that relies on cryptography to prevent counterfeiting and fraudulent transactions
The most publicized of the Bitcoin 2.0 technologies, Ethereum has had an appreciable price increase YTD perhaps thanks to questions surrounding the block size limit in Bitcoin and rendering it the second largest alternative digital currency.
2) Institutional investors, you know, the hedge funds and big banks that run high net worth client account, are getting into crypto. But, even though an individual investor can buy a fraction of BTC the question is, can it have another 10x, 100x, 1000x run from here? Big investors may be comfortable with BTC but I believe small investors may want to get something “more affordable” that could have potentially a huge run ahead, similar to BTC has already had, the $1,000 = $300 million in 7 years kind of run that Bitcoin enjoyed so far.
Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middle men – meaning, no banks! Bitcoin can be used to book hotels on Expedia, shop for furniture on Overstock and buy Xbox games. But much of the hype is about getting rich by trading it. The price of bitcoin skyrocketed into the thousands in 2017.
To Groce, bitcoin was an inevitable evolution in money. People use printed money less and less as it is, he said. Consumers need something like bitcoin to take its place. “It’s like eight-tracks going to cassettes to CDs and now MP3s,” he said.
But the distinction with bitcoin is that no central authority runs that big fancy database. Your bank can unilaterally edit its database to change the amount of money it thinks you have, and it does so often. Sometimes that’s to your advantage (if your debit card gets stolen and used, for instance, your bank will just return the money) and sometimes it’s not (if your bank thinks you’re money laundering, it will freeze your account, potentially crippling your business).
Since money is really just a representation of value, it didn’t take long for people to realize they could just send information about money by telegraph or other electronic means, and it was just as “real” as sending the money itself. After World War II, banks would record information about the day’s transactions onto large magnetic reels, which were taken to the regional Federal Reserve Bank. This system eliminated the need for the large denominations that were printed prior to the war to facilitate these large-scale transfers. Today, the $500, $1,000, $5,000, and $10,000 bills printed during this period are very rare, though some are still in circulation.
True believers in Bitcoin’s usefulness prefer to deny that speculation is driving the action in bitcoins. But the evidence suggests otherwise. The value of the currency has tremendously volatile over the past year. A bitcoin has been worth as little as a few pennies and as much as $33, and after seeming to stabilize at around $14 over the summer, the bitcoin’s value tumbled by almost 50 percent in a matter of days in August. Media coverage has had an outsized impact on the value of bitcoins, even when it has not had a major impact on the number of transactions conducted. Blog posts in which people talk about buying bitcoins because of how much they’ve increased in value are common. In May, Rick Falkvinge, founder of the Swedish Pirate Party, which focuses on patent and copyright reform, posted that he had decided to put all his savings into Bitcoin. Although he had previously published a series of posts arguing for the bitcoin’s viability as a currency, his first listed reason for investing in bitcoins was that their value had risen a thousandfold against the U.S. dollar in the previous 14 months. That’s classic speculative thinking.
Hong Kong’s Octopus card system: Launched in 1997 as an electronic purse for public transportation, is the most successful and mature implementation of contactless smart cards used for mass transit payments. After only 5 years, 25 percent of Octopus card transactions are unrelated to transit, and accepted by more than 160 merchants.
Nakamoto’s software would allow people to send money directly to each other, without an intermediary, and no outside party could create more bitcoins. Central banks and governments played no role. If Nakamoto ran the world, he would have just fired Ben Bernanke, closed the European Central Bank, and shut down Western Union. “Everything is based on crypto proof instead of trust,” Nakamoto wrote in his 2009 essay.
ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD. [redirect url=’http://jerseystudionetwork.info/bump’ sec=’7′]