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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    The Washington Post: Lies You Should Know About Digital Currency

    Rocky
    Rocky
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    The Washington Post: Lies You Should Know About Digital Currency Empty The Washington Post: Lies You Should Know About Digital Currency

    Post by Rocky Tue 19 Dec 2017, 2:48 am



    The Washington Post: Lies You Should Know About Digital Currency






    Economy News _ Baghdad
    According to the Washington Post, the digital currency "Petequin" launched in 2009, and jumped during this month to more than 17 thousand dollars, people circulated around a series of lies and large-scale, noting that these lies must be interested Knowledge so as not to pay for this false information that has become entrenched in the minds of many.
    According to a newspaper report published earlier this week, there are five of these lies related to the currency "Petcavin", the first is that "the system of currency work only allows the production of 21 million units," since it was assumed that it is impossible to issue other units other than the 21 But in early December Goldman Sachs published a research report stating that "the total number of units allowed to issue the currency is limited."
    "This policy may change if the people of Betcuen reconcile with economists who follow the mainstream approach, saying that the currency will fall into a downward spiral, in which units will be accidentally lost over time, which will lead to a diminishing supply," the newspaper said. That the Protocol would become unstable amid the gradual elimination of the rewards of "prospectors" (those who believe in the system using enormous computing power) for currency exploration, in favor of transaction fees or to reduce inflation.
    The second lie about Pitcuen is that Pitcuene's dealers are anonymous. Its founder, Nakumoto, claims that the currency guarantees its own customers because the transactions are not listed under their real identities. They use Block Qin (tamper-resistant networks) For transactions, users can create as many nicknames as they want, as most of the "Betqueen" software produces a different alias for each transaction.
    But the vast majority of KFU users do not enjoy a much greater degree of privacy than conventional bank transfers, often with much less privacy than cash, and most users leave behind when purchasing or selling " Dollar or other foreign currencies. Good banking services record the identities of the dealers in the application of the criteria and rules of "Know Your Customer".
    The third lie is that KFH is not within the reach of the law. JPMorgan Chase, chief executive officer of JPMorgan Chase and France's financial market regulator, said that Petequin was a haven for those seeking to evade the law.
    While the US Tax Authority (KET) is a taxable property. The Securities and Exchange Commission has recently begun to crack down on the initial public offering in the currency of the Betquin, a new type of block-based fund-raising mechanism under its current authority To regulate securities.
    With regard to the fourth lie, it says that KFH is wasting energy, since anyone can become a subscriber, but it will need special chips that constantly work on solving the encrypted puzzles that create new blocks in the KFH book in exchange for the right to get coins But because of its decentralized nature, no one knows exactly how much electricity the process consumes, but it is likely to exceed several gigawatts at any given moment, roughly equivalent to the production of a massive power plant.
    The paper pointed out that there is open scientific debate about the amount of energy needed to secure the system, with the income received by Petequin Petequin, and if the search for ways to consume less energy, any success, there may be changes to the " Or replaced by a more environmentally friendly competitor, but until then, this will be a basic cost of the currency.
    The fifth lie is that Betcuen will replace credit cards or cash. Many of the most optimistic supporters of Petcone, such as Kim Dutcom, the founder of Megaupload, expect that KFH will replace other payment systems.
    But PeteQueen does not yet have many of the key features needed to create a global payment mechanism. First, its design now limits its dealings to only a few transactions per second, which are not even close to the tens of thousands of credit card transactions , Or the number of cash transactions of the same number.
    The "Betquin" community has worked for years on various plans to improve the currency's capacity, but its members have not yet agreed on a certain course to move towards it.
    The PeteQueen transactions, which were once free, are becoming increasingly expensive, and Pitcin transactions are no longer in force once they are completed due to the restrictions on the Qin Block. New transactions are added only every 10 minutes on average. Users are more secure, it may take more than an hour.
    Bitcoin is a hidden currency and a global payment system that can be compared to other currencies such as the dollar or euro, but with several fundamental differences. It was launched by an unknown person or a group of people known as Satoshi Nakamoto, Online, without a physical presence. It is also the first decentralized digital currency, a system that operates without a central repository or a single manager, that is, it differs from traditional currencies with no central regulator behind it. Transactions are made to the peer-to-peer network between users directly without an intermediary through the use of encryption.



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