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Why i’m bullish on Zilliqa (long read)

Edit: TL;DR added in the comments
 
Hey all, I've been researching coins since 2017 and have gone through 100s of them in the last 3 years. I got introduced to blockchain via Bitcoin of course, analyzed Ethereum thereafter and from that moment I have a keen interest in smart contact platforms. I’m passionate about Ethereum but I find Zilliqa to have a better risk-reward ratio. Especially because Zilliqa has found an elegant balance between being secure, decentralized and scalable in my opinion.
 
Below I post my analysis of why from all the coins I went through I’m most bullish on Zilliqa (yes I went through Tezos, EOS, NEO, VeChain, Harmony, Algorand, Cardano etc.). Note that this is not investment advice and although it's a thorough analysis there is obviously some bias involved. Looking forward to what you all think!
 
Fun fact: the name Zilliqa is a play on ‘silica’ silicon dioxide which means “Silicon for the high-throughput consensus computer.”
 
This post is divided into (i) Technology, (ii) Business & Partnerships, and (iii) Marketing & Community. I’ve tried to make the technology part readable for a broad audience. If you’ve ever tried understanding the inner workings of Bitcoin and Ethereum you should be able to grasp most parts. Otherwise, just skim through and once you are zoning out head to the next part.
 
Technology and some more:
 
Introduction
 
The technology is one of the main reasons why I’m so bullish on Zilliqa. First thing you see on their website is: “Zilliqa is a high-performance, high-security blockchain platform for enterprises and next-generation applications.” These are some bold statements.
 
Before we deep dive into the technology let’s take a step back in time first as they have quite the history. The initial research paper from which Zilliqa originated dates back to August 2016: Elastico: A Secure Sharding Protocol For Open Blockchains where Loi Luu (Kyber Network) is one of the co-authors. Other ideas that led to the development of what Zilliqa has become today are: Bitcoin-NG, collective signing CoSi, ByzCoin and Omniledger.
 
The technical white paper was made public in August 2017 and since then they have achieved everything stated in the white paper and also created their own open source intermediate level smart contract language called Scilla (functional programming language similar to OCaml) too.
 
Mainnet is live since the end of January 2019 with daily transaction rates growing continuously. About a week ago mainnet reached 5 million transactions, 500.000+ addresses in total along with 2400 nodes keeping the network decentralized and secure. Circulating supply is nearing 11 billion and currently only mining rewards are left. The maximum supply is 21 billion with annual inflation being 7.13% currently and will only decrease with time.
 
Zilliqa realized early on that the usage of public cryptocurrencies and smart contracts were increasing but decentralized, secure, and scalable alternatives were lacking in the crypto space. They proposed to apply sharding onto a public smart contract blockchain where the transaction rate increases almost linear with the increase in the amount of nodes. More nodes = higher transaction throughput and increased decentralization. Sharding comes in many forms and Zilliqa uses network-, transaction- and computational sharding. Network sharding opens up the possibility of using transaction- and computational sharding on top. Zilliqa does not use state sharding for now. We’ll come back to this later.
 
Before we continue dissecting how Zilliqa achieves such from a technological standpoint it’s good to keep in mind that a blockchain being decentralised and secure and scalable is still one of the main hurdles in allowing widespread usage of decentralised networks. In my opinion this needs to be solved first before blockchains can get to the point where they can create and add large scale value. So I invite you to read the next section to grasp the underlying fundamentals. Because after all these premises need to be true otherwise there isn’t a fundamental case to be bullish on Zilliqa, right?
 
Down the rabbit hole
 
How have they achieved this? Let’s define the basics first: key players on Zilliqa are the users and the miners. A user is anybody who uses the blockchain to transfer funds or run smart contracts. Miners are the (shard) nodes in the network who run the consensus protocol and get rewarded for their service in Zillings (ZIL). The mining network is divided into several smaller networks called shards, which is also referred to as ‘network sharding’. Miners subsequently are randomly assigned to a shard by another set of miners called DS (Directory Service) nodes. The regular shards process transactions and the outputs of these shards are eventually combined by the DS shard as they reach consensus on the final state. More on how these DS shards reach consensus (via pBFT) will be explained later on.
 
The Zilliqa network produces two types of blocks: DS blocks and Tx blocks. One DS Block consists of 100 Tx Blocks. And as previously mentioned there are two types of nodes concerned with reaching consensus: shard nodes and DS nodes. Becoming a shard node or DS node is being defined by the result of a PoW cycle (Ethash) at the beginning of the DS Block. All candidate mining nodes compete with each other and run the PoW (Proof-of-Work) cycle for 60 seconds and the submissions achieving the highest difficulty will be allowed on the network. And to put it in perspective: the average difficulty for one DS node is ~ 2 Th/s equaling 2.000.000 Mh/s or 55 thousand+ GeForce GTX 1070 / 8 GB GPUs at 35.4 Mh/s. Each DS Block 10 new DS nodes are allowed. And a shard node needs to provide around 8.53 GH/s currently (around 240 GTX 1070s). Dual mining ETH/ETC and ZIL is possible and can be done via mining software such as Phoenix and Claymore. There are pools and if you have large amounts of hashing power (Ethash) available you could mine solo.
 
The PoW cycle of 60 seconds is a peak performance and acts as an entry ticket to the network. The entry ticket is called a sybil resistance mechanism and makes it incredibly hard for adversaries to spawn lots of identities and manipulate the network with these identities. And after every 100 Tx Blocks which corresponds to roughly 1,5 hour this PoW process repeats. In between these 1,5 hour, no PoW needs to be done meaning Zilliqa’s energy consumption to keep the network secure is low. For more detailed information on how mining works click here.
Okay, hats off to you. You have made it this far. Before we go any deeper down the rabbit hole we first must understand why Zilliqa goes through all of the above technicalities and understand a bit more what a blockchain on a more fundamental level is. Because the core of Zilliqa’s consensus protocol relies on the usage of pBFT (practical Byzantine Fault Tolerance) we need to know more about state machines and their function. Navigate to Viewblock, a Zilliqa block explorer, and just come back to this article. We will use this site to navigate through a few concepts.
 
We have established that Zilliqa is a public and distributed blockchain. Meaning that everyone with an internet connection can send ZILs, trigger smart contracts, etc. and there is no central authority who fully controls the network. Zilliqa and other public and distributed blockchains (like Bitcoin and Ethereum) can also be defined as state machines.
 
Taking the liberty of paraphrasing examples and definitions given by Samuel Brooks’ medium article, he describes the definition of a blockchain (like Zilliqa) as: “A peer-to-peer, append-only datastore that uses consensus to synchronize cryptographically-secure data”.
 
Next, he states that: "blockchains are fundamentally systems for managing valid state transitions”. For some more context, I recommend reading the whole medium article to get a better grasp of the definitions and understanding of state machines. Nevertheless, let’s try to simplify and compile it into a single paragraph. Take traffic lights as an example: all its states (red, amber, and green) are predefined, all possible outcomes are known and it doesn’t matter if you encounter the traffic light today or tomorrow. It will still behave the same. Managing the states of a traffic light can be done by triggering a sensor on the road or pushing a button resulting in one traffic lights’ state going from green to red (via amber) and another light from red to green.
 
With public blockchains like Zilliqa, this isn’t so straightforward and simple. It started with block #1 almost 1,5 years ago and every 45 seconds or so a new block linked to the previous block is being added. Resulting in a chain of blocks with transactions in it that everyone can verify from block #1 to the current #647.000+ block. The state is ever changing and the states it can find itself in are infinite. And while the traffic light might work together in tandem with various other traffic lights, it’s rather insignificant comparing it to a public blockchain. Because Zilliqa consists of 2400 nodes who need to work together to achieve consensus on what the latest valid state is while some of these nodes may have latency or broadcast issues, drop offline or are deliberately trying to attack the network, etc.
 
Now go back to the Viewblock page take a look at the amount of transaction, addresses, block and DS height and then hit refresh. Obviously as expected you see new incremented values on one or all parameters. And how did the Zilliqa blockchain manage to transition from a previous valid state to the latest valid state? By using pBFT to reach consensus on the latest valid state.
 
After having obtained the entry ticket, miners execute pBFT to reach consensus on the ever-changing state of the blockchain. pBFT requires a series of network communication between nodes, and as such there is no GPU involved (but CPU). Resulting in the total energy consumed to keep the blockchain secure, decentralized and scalable being low.
 
pBFT stands for practical Byzantine Fault Tolerance and is an optimization on the Byzantine Fault Tolerant algorithm. To quote Blockonomi: “In the context of distributed systems, Byzantine Fault Tolerance is the ability of a distributed computer network to function as desired and correctly reach a sufficient consensus despite malicious components (nodes) of the system failing or propagating incorrect information to other peers.” Zilliqa is such a distributed computer network and depends on the honesty of the nodes (shard and DS) to reach consensus and to continuously update the state with the latest block. If pBFT is a new term for you I can highly recommend the Blockonomi article.
 
The idea of pBFT was introduced in 1999 - one of the authors even won a Turing award for it - and it is well researched and applied in various blockchains and distributed systems nowadays. If you want more advanced information than the Blockonomi link provides click here. And if you’re in between Blockonomi and the University of Singapore read the Zilliqa Design Story Part 2 dating from October 2017.
Quoting from the Zilliqa tech whitepaper: “pBFT relies upon a correct leader (which is randomly selected) to begin each phase and proceed when the sufficient majority exists. In case the leader is byzantine it can stall the entire consensus protocol. To address this challenge, pBFT offers a view change protocol to replace the byzantine leader with another one.”
 
pBFT can tolerate ⅓ of the nodes being dishonest (offline counts as Byzantine = dishonest) and the consensus protocol will function without stalling or hiccups. Once there are more than ⅓ of dishonest nodes but no more than ⅔ the network will be stalled and a view change will be triggered to elect a new DS leader. Only when more than ⅔ of the nodes are dishonest (66%) double-spend attacks become possible.
 
If the network stalls no transactions can be processed and one has to wait until a new honest leader has been elected. When the mainnet was just launched and in its early phases, view changes happened regularly. As of today the last stalling of the network - and view change being triggered - was at the end of October 2019.
 
Another benefit of using pBFT for consensus besides low energy is the immediate finality it provides. Once your transaction is included in a block and the block is added to the chain it’s done. Lastly, take a look at this article where three types of finality are being defined: probabilistic, absolute and economic finality. Zilliqa falls under the absolute finality (just like Tendermint for example). Although lengthy already we skipped through some of the inner workings from Zilliqa’s consensus: read the Zilliqa Design Story Part 3 and you will be close to having a complete picture on it. Enough about PoW, sybil resistance mechanism, pBFT, etc. Another thing we haven’t looked at yet is the amount of decentralization.
 
Decentralisation
 
Currently, there are four shards, each one of them consisting of 600 nodes. 1 shard with 600 so-called DS nodes (Directory Service - they need to achieve a higher difficulty than shard nodes) and 1800 shard nodes of which 250 are shard guards (centralized nodes controlled by the team). The amount of shard guards has been steadily declining from 1200 in January 2019 to 250 as of May 2020. On the Viewblock statistics, you can see that many of the nodes are being located in the US but those are only the (CPU parts of the) shard nodes who perform pBFT. There is no data from where the PoW sources are coming. And when the Zilliqa blockchain starts reaching its transaction capacity limit, a network upgrade needs to be executed to lift the current cap of maximum 2400 nodes to allow more nodes and formation of more shards which will allow to network to keep on scaling according to demand.
Besides shard nodes there are also seed nodes. The main role of seed nodes is to serve as direct access points (for end-users and clients) to the core Zilliqa network that validates transactions. Seed nodes consolidate transaction requests and forward these to the lookup nodes (another type of nodes) for distribution to the shards in the network. Seed nodes also maintain the entire transaction history and the global state of the blockchain which is needed to provide services such as block explorers. Seed nodes in the Zilliqa network are comparable to Infura on Ethereum.
 
The seed nodes were first only operated by Zilliqa themselves, exchanges and Viewblock. Operators of seed nodes like exchanges had no incentive to open them for the greater public. They were centralised at first. Decentralisation at the seed nodes level has been steadily rolled out since March 2020 ( Zilliqa Improvement Proposal 3 ). Currently the amount of seed nodes is being increased, they are public-facing and at the same time PoS is applied to incentivize seed node operators and make it possible for ZIL holders to stake and earn passive yields. Important distinction: seed nodes are not involved with consensus! That is still PoW as entry ticket and pBFT for the actual consensus.
 
5% of the block rewards are being assigned to seed nodes (from the beginning in 2019) and those are being used to pay out ZIL stakers. The 5% block rewards with an annual yield of 10.03% translate to roughly 610 MM ZILs in total that can be staked. Exchanges use the custodial variant of staking and wallets like Moonlet will use the non-custodial version (starting in Q3 2020). Staking is being done by sending ZILs to a smart contract created by Zilliqa and audited by Quantstamp.
 
With a high amount of DS; shard nodes and seed nodes becoming more decentralized too, Zilliqa qualifies for the label of decentralized in my opinion.
 
Smart contracts
 
Let me start by saying I’m not a developer and my programming skills are quite limited. So I‘m taking the ELI5 route (maybe 12) but if you are familiar with Javascript, Solidity or specifically OCaml please head straight to Scilla - read the docs to get a good initial grasp of how Zilliqa’s smart contract language Scilla works and if you ask yourself “why another programming language?” check this article. And if you want to play around with some sample contracts in an IDE click here. The faucet can be found here. And more information on architecture, dapp development and API can be found on the Developer Portal.
If you are more into listening and watching: check this recent webinar explaining Zilliqa and Scilla. Link is time-stamped so you’ll start right away with a platform introduction, roadmap 2020 and afterwards a proper Scilla introduction.
 
Generalized: programming languages can be divided into being ‘object-oriented’ or ‘functional’. Here is an ELI5 given by software development academy: * “all programs have two basic components, data – what the program knows – and behavior – what the program can do with that data. So object-oriented programming states that combining data and related behaviors in one place, is called “object”, which makes it easier to understand how a particular program works. On the other hand, functional programming argues that data and behavior are different things and should be separated to ensure their clarity.” *
 
Scilla is on the functional side and shares similarities with OCaml: OCaml is a general-purpose programming language with an emphasis on expressiveness and safety. It has an advanced type system that helps catch your mistakes without getting in your way. It's used in environments where a single mistake can cost millions and speed matters, is supported by an active community, and has a rich set of libraries and development tools. For all its power, OCaml is also pretty simple, which is one reason it's often used as a teaching language.
 
Scilla is blockchain agnostic, can be implemented onto other blockchains as well, is recognized by academics and won a so-called Distinguished Artifact Award award at the end of last year.
 
One of the reasons why the Zilliqa team decided to create their own programming language focused on preventing smart contract vulnerabilities is that adding logic on a blockchain, programming, means that you cannot afford to make mistakes. Otherwise, it could cost you. It’s all great and fun blockchains being immutable but updating your code because you found a bug isn’t the same as with a regular web application for example. And with smart contracts, it inherently involves cryptocurrencies in some form thus value.
 
Another difference with programming languages on a blockchain is gas. Every transaction you do on a smart contract platform like Zilliqa or Ethereum costs gas. With gas you basically pay for computational costs. Sending a ZIL from address A to address B costs 0.001 ZIL currently. Smart contracts are more complex, often involve various functions and require more gas (if gas is a new concept click here ).
 
So with Scilla, similar to Solidity, you need to make sure that “every function in your smart contract will run as expected without hitting gas limits. An improper resource analysis may lead to situations where funds may get stuck simply because a part of the smart contract code cannot be executed due to gas limits. Such constraints are not present in traditional software systems”. Scilla design story part 1
 
Some examples of smart contract issues you’d want to avoid are: leaking funds, ‘unexpected changes to critical state variables’ (example: someone other than you setting his or her address as the owner of the smart contract after creation) or simply killing a contract.
 
Scilla also allows for formal verification. Wikipedia to the rescue: In the context of hardware and software systems, formal verification is the act of proving or disproving the correctness of intended algorithms underlying a system with respect to a certain formal specification or property, using formal methods of mathematics.
 
Formal verification can be helpful in proving the correctness of systems such as: cryptographic protocols, combinational circuits, digital circuits with internal memory, and software expressed as source code.
 
Scilla is being developed hand-in-hand with formalization of its semantics and its embedding into the Coq proof assistant — a state-of-the art tool for mechanized proofs about properties of programs.”
 
Simply put, with Scilla and accompanying tooling developers can be mathematically sure and proof that the smart contract they’ve written does what he or she intends it to do.
 
Smart contract on a sharded environment and state sharding
 
There is one more topic I’d like to touch on: smart contract execution in a sharded environment (and what is the effect of state sharding). This is a complex topic. I’m not able to explain it any easier than what is posted here. But I will try to compress the post into something easy to digest.
 
Earlier on we have established that Zilliqa can process transactions in parallel due to network sharding. This is where the linear scalability comes from. We can define simple transactions: a transaction from address A to B (Category 1), a transaction where a user interacts with one smart contract (Category 2) and the most complex ones where triggering a transaction results in multiple smart contracts being involved (Category 3). The shards are able to process transactions on their own without interference of the other shards. With Category 1 transactions that is doable, with Category 2 transactions sometimes if that address is in the same shard as the smart contract but with Category 3 you definitely need communication between the shards. Solving that requires to make a set of communication rules the protocol needs to follow in order to process all transactions in a generalised fashion.
 
And this is where the downsides of state sharding comes in currently. All shards in Zilliqa have access to the complete state. Yes the state size (0.1 GB at the moment) grows and all of the nodes need to store it but it also means that they don’t need to shop around for information available on other shards. Requiring more communication and adding more complexity. Computer science knowledge and/or developer knowledge required links if you want to dig further: Scilla - language grammar Scilla - Foundations for Verifiable Decentralised Computations on a Blockchain Gas Accounting NUS x Zilliqa: Smart contract language workshop
 
Easier to follow links on programming Scilla https://learnscilla.com/home Ivan on Tech
 
Roadmap / Zilliqa 2.0
 
There is no strict defined roadmap but here are topics being worked on. And via the Zilliqa website there is also more information on the projects they are working on.
 
Business & Partnerships
 
It’s not only technology in which Zilliqa seems to be excelling as their ecosystem has been expanding and starting to grow rapidly. The project is on a mission to provide OpenFinance (OpFi) to the world and Singapore is the right place to be due to its progressive regulations and futuristic thinking. Singapore has taken a proactive approach towards cryptocurrencies by introducing the Payment Services Act 2019 (PS Act). Among other things, the PS Act will regulate intermediaries dealing with certain cryptocurrencies, with a particular focus on consumer protection and anti-money laundering. It will also provide a stable regulatory licensing and operating framework for cryptocurrency entities, effectively covering all crypto businesses and exchanges based in Singapore. According to PWC 82% of the surveyed executives in Singapore reported blockchain initiatives underway and 13% of them have already brought the initiatives live to the market. There is also an increasing list of organizations that are starting to provide digital payment services. Moreover, Singaporean blockchain developers Building Cities Beyond has recently created an innovation $15 million grant to encourage development on its ecosystem. This all suggests that Singapore tries to position itself as (one of) the leading blockchain hubs in the world.
 
Zilliqa seems to already take advantage of this and recently helped launch Hg Exchange on their platform, together with financial institutions PhillipCapital, PrimePartners and Fundnel. Hg Exchange, which is now approved by the Monetary Authority of Singapore (MAS), uses smart contracts to represent digital assets. Through Hg Exchange financial institutions worldwide can use Zilliqa's safe-by-design smart contracts to enable the trading of private equities. For example, think of companies such as Grab, Airbnb, SpaceX that are not available for public trading right now. Hg Exchange will allow investors to buy shares of private companies & unicorns and capture their value before an IPO. Anquan, the main company behind Zilliqa, has also recently announced that they became a partner and shareholder in TEN31 Bank, which is a fully regulated bank allowing for tokenization of assets and is aiming to bridge the gap between conventional banking and the blockchain world. If STOs, the tokenization of assets, and equity trading will continue to increase, then Zilliqa’s public blockchain would be the ideal candidate due to its strategic positioning, partnerships, regulatory compliance and the technology that is being built on top of it.
 
What is also very encouraging is their focus on banking the un(der)banked. They are launching a stablecoin basket starting with XSGD. As many of you know, stablecoins are currently mostly used for trading. However, Zilliqa is actively trying to broaden the use case of stablecoins. I recommend everybody to read this text that Amrit Kumar wrote (one of the co-founders). These stablecoins will be integrated in the traditional markets and bridge the gap between the crypto world and the traditional world. This could potentially revolutionize and legitimise the crypto space if retailers and companies will for example start to use stablecoins for payments or remittances, instead of it solely being used for trading.
 
Zilliqa also released their DeFi strategic roadmap (dating November 2019) which seems to be aligning well with their OpFi strategy. A non-custodial DEX is coming to Zilliqa made by Switcheo which allows cross-chain trading (atomic swaps) between ETH, EOS and ZIL based tokens. They also signed a Memorandum of Understanding for a (soon to be announced) USD stablecoin. And as Zilliqa is all about regulations and being compliant, I’m speculating on it to be a regulated USD stablecoin. Furthermore, XSGD is already created and visible on block explorer and XIDR (Indonesian Stablecoin) is also coming soon via StraitsX. Here also an overview of the Tech Stack for Financial Applications from September 2019. Further quoting Amrit Kumar on this:
 
There are two basic building blocks in DeFi/OpFi though: 1) stablecoins as you need a non-volatile currency to get access to this market and 2) a dex to be able to trade all these financial assets. The rest are built on top of these blocks.
 
So far, together with our partners and community, we have worked on developing these building blocks with XSGD as a stablecoin. We are working on bringing a USD-backed stablecoin as well. We will soon have a decentralised exchange developed by Switcheo. And with HGX going live, we are also venturing into the tokenization space. More to come in the future.”
 
Additionally, they also have this ZILHive initiative that injects capital into projects. There have been already 6 waves of various teams working on infrastructure, innovation and research, and they are not from ASEAN or Singapore only but global: see Grantees breakdown by country. Over 60 project teams from over 20 countries have contributed to Zilliqa's ecosystem. This includes individuals and teams developing wallets, explorers, developer toolkits, smart contract testing frameworks, dapps, etc. As some of you may know, Unstoppable Domains (UD) blew up when they launched on Zilliqa. UD aims to replace cryptocurrency addresses with a human-readable name and allows for uncensorable websites. Zilliqa will probably be the only one able to handle all these transactions onchain due to ability to scale and its resulting low fees which is why the UD team launched this on Zilliqa in the first place. Furthermore, Zilliqa also has a strong emphasis on security, compliance, and privacy, which is why they partnered with companies like Elliptic, ChainSecurity (part of PwC Switzerland), and Incognito. Their sister company Aqilliz (Zilliqa spelled backwards) focuses on revolutionizing the digital advertising space and is doing interesting things like using Zilliqa to track outdoor digital ads with companies like Foodpanda.
 
Zilliqa is listed on nearly all major exchanges, having several different fiat-gateways and recently have been added to Binance’s margin trading and futures trading with really good volume. They also have a very impressive team with good credentials and experience. They don't just have “tech people”. They have a mix of tech people, business people, marketeers, scientists, and more. Naturally, it's good to have a mix of people with different skill sets if you work in the crypto space.
 
Marketing & Community
 
Zilliqa has a very strong community. If you just follow their Twitter their engagement is much higher for a coin that has approximately 80k followers. They also have been ‘coin of the day’ by LunarCrush many times. LunarCrush tracks real-time cryptocurrency value and social data. According to their data, it seems Zilliqa has a more fundamental and deeper understanding of marketing and community engagement than almost all other coins. While almost all coins have been a bit frozen in the last months, Zilliqa seems to be on its own bull run. It was somewhere in the 100s a few months ago and is currently ranked #46 on CoinGecko. Their official Telegram also has over 20k people and is very active, and their community channel which is over 7k now is more active and larger than many other official channels. Their local communities also seem to be growing.
 
Moreover, their community started ‘Zillacracy’ together with the Zilliqa core team ( see www.zillacracy.com ). It’s a community-run initiative where people from all over the world are now helping with marketing and development on Zilliqa. Since its launch in February 2020 they have been doing a lot and will also run their own non-custodial seed node for staking. This seed node will also allow them to start generating revenue for them to become a self sustaining entity that could potentially scale up to become a decentralized company working in parallel with the Zilliqa core team. Comparing it to all the other smart contract platforms (e.g. Cardano, EOS, Tezos etc.) they don't seem to have started a similar initiative (correct me if I’m wrong though). This suggests in my opinion that these other smart contract platforms do not fully understand how to utilize the ‘power of the community’. This is something you cannot ‘buy with money’ and gives many projects in the space a disadvantage.
 
Zilliqa also released two social products called SocialPay and Zeeves. SocialPay allows users to earn ZILs while tweeting with a specific hashtag. They have recently used it in partnership with the Singapore Red Cross for a marketing campaign after their initial pilot program. It seems like a very valuable social product with a good use case. I can see a lot of traditional companies entering the space through this product, which they seem to suggest will happen. Tokenizing hashtags with smart contracts to get network effect is a very smart and innovative idea.
 
Regarding Zeeves, this is a tipping bot for Telegram. They already have 1000s of signups and they plan to keep upgrading it for more and more people to use it (e.g. they recently have added a quiz features). They also use it during AMAs to reward people in real-time. It’s a very smart approach to grow their communities and get familiar with ZIL. I can see this becoming very big on Telegram. This tool suggests, again, that the Zilliqa team has a deeper understanding of what the crypto space and community needs and is good at finding the right innovative tools to grow and scale.
 
To be honest, I haven’t covered everything (i’m also reaching the character limited haha). So many updates happening lately that it's hard to keep up, such as the International Monetary Fund mentioning Zilliqa in their report, custodial and non-custodial Staking, Binance Margin, Futures, Widget, entering the Indian market, and more. The Head of Marketing Colin Miles has also released this as an overview of what is coming next. And last but not least, Vitalik Buterin has been mentioning Zilliqa lately acknowledging Zilliqa and mentioning that both projects have a lot of room to grow. There is much more info of course and a good part of it has been served to you on a silver platter. I invite you to continue researching by yourself :-) And if you have any comments or questions please post here!
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Testing the Tide | Monthly FIRE Portfolio Update - June 2020

We would rather be ruined than changed.
-W H Auden, The Age of Anxiety
This is my forty-third portfolio update. I complete this update monthly to check my progress against my goal.
Portfolio goal
My objective is to reach a portfolio of $2 180 000 by 1 July 2021. This would produce a real annual income of about $87 000 (in 2020 dollars).
This portfolio objective is based on an expected average real return of 3.99 per cent, or a nominal return of 6.49 per cent.
Portfolio summary
Vanguard Lifestrategy High Growth Fund – $726 306
Vanguard Lifestrategy Growth Fund – $42 118
Vanguard Lifestrategy Balanced Fund – $78 730
Vanguard Diversified Bonds Fund – $111 691
Vanguard Australian Shares ETF (VAS) – $201 745
Vanguard International Shares ETF (VGS) – $39 357
Betashares Australia 200 ETF (A200) – $231 269
Telstra shares (TLS) – $1 668
Insurance Australia Group shares (IAG) – $7 310
NIB Holdings shares (NHF) – $5 532
Gold ETF (GOLD.ASX) – $117 757
Secured physical gold – $18 913
Ratesetter (P2P lending) – $10 479
Bitcoin – $148 990
Raiz app (Aggressive portfolio) – $16 841
Spaceship Voyager app (Index portfolio) – $2 553
BrickX (P2P rental real estate) – $4 484
Total portfolio value: $1 765 743 (+$8 485 or 0.5%)
Asset allocation
Australian shares – 42.2% (2.8% under)
Global shares – 22.0%
Emerging markets shares – 2.3%
International small companies – 3.0%
Total international shares – 27.3% (2.7% under)
Total shares – 69.5% (5.5% under)
Total property securities – 0.3% (0.3% over)
Australian bonds – 4.7%
International bonds – 9.4%
Total bonds – 14.0% (1.0% under)
Gold – 7.7%
Bitcoin – 8.4%
Gold and alternatives – 16.2% (6.2% over)
Presented visually, below is a high-level view of the current asset allocation of the portfolio.
[Chart]
Comments
The overall portfolio increased slightly over the month. This has continued to move the portfolio beyond the lows seen in late March.
The modest portfolio growth of $8 000, or 0.5 per cent, maintains its value at around that achieved at the beginning of the year.
[Chart]
The limited growth this month largely reflects an increase in the value of my current equity holdings, in VAS and A200 and the Vanguard retail funds. This has outweighed a small decline in the value of Bitcoin and global shares. The value of the bond holdings also increased modestly, pushing them to their highest value since around early 2017.
[Chart]
There still appears to be an air of unreality around recent asset price increases and the broader economic context. Britain's Bank of England has on some indicators shown that the aftermath of the pandemic and lockdown represent the most challenging financial crisis in around 300 years. What is clear is that investor perceptions and fear around the coronavirus pandemic are a substantial ongoing force driving volatility in equity markets (pdf).
A somewhat optimistic view is provided here that the recovery could look more like the recovery from a natural disaster, rather than a traditional recession. Yet there are few certainties on offer. Negative oil prices, and effective offers by US equity investors to bail out Hertz creditors at no cost appear to be signs of a financial system under significant strains.
As this Reserve Bank article highlights, while some Australian households are well-placed to weather the storm ahead, the timing and severity of what lays ahead is an important unknown that will itself feed into changes in household wealth from here.
Investments this month have been exclusively in the Australian shares exchange-traded fund (VAS) using Selfwealth.* This has been to bring my actual asset allocation more closely in line with the target split between Australian and global shares.
A moving azimuth: falling spending continues
Monthly expenses on the credit card have continued their downward trajectory across the past month.
[Chart]
The rolling average of monthly credit card spending is now at its lowest point over the period of the journey. This is despite the end of lockdown, and a slow resumption of some more normal aspects of spending.
This has continued the brief period since April of the achievement of a notional and contingent kind of financial independence.
The below chart illustrates this temporary state, setting out the degree to which portfolio distributions cover estimated total expenses, measured month to month.
[Chart]
There are two sources of volatility underlying its movement. The first is the level of expenses, which can vary, and the second is the fact that it is based on financial year distributions, which are themselves volatile.
Importantly, the distributions over the last twelve months of this chart is only an estimate - and hence the next few weeks will affect the precision of this analysis across its last 12 observations.
Estimating 2019-20 financial year portfolio distributions
Since the beginning of the journey, this time of year usually has sense of waiting for events to unfold - in particular, finding out the level of half-year distributions to June.
These represent the bulk of distributions, usually averaging 60-65 per cent of total distributions received. They are an important and tangible signpost of progress on the financial independence journey.
This is no simple task, as distributions have varied in size considerably.
A part of this variation has been the important role of sometimes large and lumpy capital distributions - which have made up between 30 to 48 per cent of total distributions in recent years, and an average of around 15 per cent across the last two decades.
I have experimented with many different approaches, most of which have relied on averaging over multi-year periods to even out the 'peaks and troughs' of how market movements may have affected distributions. The main approaches have been:
Each of these have their particular simplifications, advantages and drawbacks.
Developing new navigation tools
Over the past month I have also developed more fully an alternate 'model' for estimating returns.
This simply derives a median value across a set of historical 'cents per unit' distribution data for June and December payouts for the Vanguard funds and exchange traded funds. These make up over 96 per cent of income producing portfolio assets.
In other words, this model essentially assumes that each Vanguard fund and ETF owned pays out the 'average' level of distributions this half-year, with the average being based on distribution records that typically go back between 5 to 10 years.
Mapping the distribution estimates
The chart below sets out the estimate produced by each approach for the June distributions that are to come.
[Chart]
Some observations on these findings can be made.
The lowest estimate is the 'adjusted GFC income' observation, which essentially assumes that the income for this period is as low as experienced by the equity and bond portfolio during the Global Financial Crisis. Just due to timing differences of the period observed, this seems to be a 'worst case' lower bound estimate, which I do not currently place significant weight on.
Similarly, at the highest end, the 'average distribution rate' approach simply assumes June distributions deliver a distribution equal to the median that the entire portfolio has delivered since 1999. With higher interest rates, and larger fixed income holdings across much of that time, this seems an objectively unlikely outcome.
Similarly, the delivery of exactly the income suggested by long-term averages measured across decades and even centuries would be a matter of chance, rather than the basis for rational expectations.
Central estimates of the line of position
This leaves the estimates towards the centre of the chart - estimates of between around $28 000 to $43 000 as representing the more likely range.
I attach less weight to the historical three-year average due to the high contribution of distributed capital gains over that period of growth, where at least across equities some capital losses are likely to be in greater presence.
My preferred central estimate is the model estimate (green) , as it is based in historical data directly from the investment vehicles rather than my own evolving portfolio. The data it is based on in some cases goes back to the Global Financial Crisis. This estimate is also quite close to the raw average of all the alternative approaches (red). It sits a little above the 'adjusted income' measure.
None of these estimates, it should be noted, contain any explicit adjustment for the earnings and dividend reductions or delays arising from COVID-19. They may, therefore represent a modest over-estimate for likely June distributions, to the extent that these effects are more negative than those experienced on average across the period of the underlying data.
These are difficult to estimate, but dividend reductions could easily be in the order of 20-30 per cent, plausibly lowering distributions to the $23 000 to $27 000 range. The recently announced forecast dividend for the Vanguard Australian Shares ETF (VAS) is, for example, the lowest in four years.
As seen from chart above, there is a wide band of estimates, which grow wider still should capital gains be unexpectedly distributed from the Vanguard retail funds. These have represented a source of considerable volatility. Given this, it may seem fruitless to seek to estimate these forthcoming distributions, compared to just waiting for them to arrive.
Yet this exercise helps by setting out reasoning and positions, before hindsight bias urgently arrives to inform me that I knew the right answer all along. It also potentially helps clearly 'reject' some models over time, if the predictions they make prove to be systematically incorrect.
Progress
Progress against the objective, and the additional measures I have reached is set out below.
Measure Portfolio All Assets
Portfolio objective – $2 180 000 (or $87 000 pa) 81.0% 109.4%
Credit card purchases – $71 000 pa 98.8% 133.5%
Total expenses – $89 000 pa 79.2% 106.9%
Summary
The current coronavirus conditions are affecting all aspects of the journey to financial independence - changing spending habits, leading to volatility in equity markets and sequencing risks, and perhaps dramatically altering the expected pattern of portfolio distributions.
Although history can provide some guidance, there is simply no definitive way to know whether any or all of these changes will be fundamental and permanent alterations, or simply data points on a post-natural disaster path to a different post-pandemic set of conditions. There is the temptation to fit past crises imperfectly into the modern picture, as this Of Dollars and Data post illustrates well.
Taking a longer 100 year view, this piece 'The Allegory of the Hawk and Serpent' is a reminder that our entire set of received truths about constructing a portfolio to survive for the long-term can be a product of a sample size of one - actual past history - and subject to recency bias.
This month has felt like one of quiet routines, muted events compared to the past few months, and waiting to understand more fully the shape of the new. Nonetheless, with each new investment, or week of lower expenditure than implied in my FI target, the nature of the journey is incrementally changing - beneath the surface.
Small milestones are being passed - such as over 40 per cent of my equity holdings being outside of the the Vanguard retail funds. Or these these retail funds - which once formed over 95 per cent of the portfolio - now making up less than half.
With a significant part of the financial independence journey being about repeated small actions producing outsized results with time, the issue of maintaining good routines while exploring beneficial changes is real.
Adding to the complexity is that embarking on the financial journey itself is likely to change who one is. This idea, of the difficulty or impossibility of knowing the preferences of a future self, is explored in a fascinating way in this Econtalk podcast episode with a philosophical thought experiment about vampires. It poses the question: perhaps we can never know ourselves at the destination? And yet, who would rationally choose ruin over any change?
The post, links and full charts can be seen here.
submitted by thefiexpl to fiaustralia [link] [comments]

DD- GLD, Stagflation, and You

Hey nerds, Duncan here. You might remember me from last week's DD, in which I argued that a company whose entire business model consists of exploiting the poor is worthy of your totally un-earned NEET bux. In today's not financial advice we are going to talk about the currency without a state, the oldest medium of trade, Scrooge McDuck's drug of choice...I'm talking about gold.
Now, there is a reason that commercial advertisements for gold target demographics that we will generously call "unsophisticated". Gold is perfect for short term thinkers/investors because doesn't actually grow in the long term the way equities or bonds do. But to understand the powerful short term play I'm talking about, we need to understand the role gold actually plays in the international monetary system.
After WW2, the Allied powers got together and realized that they needed a way to avoid the hyperinflation of 1930's Germany which had led to the war. In order to ensure currency stability the entire world agreed to peg their currencies to USD. And USD would be backed by gold. If one of the currencies was too much in demand, threatening the carefully managed exchange rates, than the IMF would step in and pump or dump the currency until it returned to the right exchange rate.
That system worked great until around 1971, when Nixon lost tons of the government's tendies napalming rice paddies. The US government paid for the war with debt, and by 1971, Nixon was afraid of actually getting margin called. So he, with no notice to anyone, announced that the US dollar was no longer backed by gold. Suddenly it was a free for all. The US economy was hit with both high unemployment and high inflation, other currencies floated all over the place. Basically, it was the chaos we have today.
So Duncan, you might ask, does anyone buy gold today? Well, almost every central bank in the world continues to hold gold, and lots of it. The reason they do so is the same reason almost all historic currencies were based on gold: that because gold can't easily be printed, it can't be easily be manipulated, and it can't easily be degraded or destroyed. In fact, it's perks strongly parallel those of Bitcoin. In the event of a crisis, a country can liquidate its gold reserves for more currency. This is especially helpful when a reserve currency, or the native currency is in trouble. For example, we see Venezuela, whose own currency is totally worthless, USD reserves are useless due to sactions, and therefore it has turned to its gold reserves to pay for imports of food and medicine.
Gold's reputation as a systemic-risk hedge is so great, that in times of market instability or crisis, it actually assumes a negative beta. That is, it moves opposite equities. However because it is an almost fixed quantity asset, it also changes value against other currencies. So, when we have our friend Jerome running his printer like crazy, increasing the money supply at an unprecedented rate, he should be increasing the price of gold, or rather, making the USD/Gold exchange rate higher. In fact, we see that around late 2018 the trump tax cut began to pump more liquidity into an already hot economy, starting a USD/Gold price increase. Likewise, as the world economies look more and more risky, and the world's reserve currency's M2 expands faster than Boogie2988 after a breakup; we should see central banks continue to purchase gold as a hedge against continued economic instability.
The Fed has made it clear, that it will do everything possible to avoid deflation. However, after 10 years of historically low interest rates and at times QE, consumers simply have not seen wages or prices increase significantly. So where has that steadily increasing money supply gone? Well, the answer appears to be that some assets are experiencing inflation: Financial instruments, urban housing, medical care, and college tuition--anything that can be funded through cheap debt--have taken the brunt of inflation. Meanwhile the average American consumer can't even find 4 hundred dollar bills to rub together in an emergency. So we can be almost certain that the Fed will keep printing, in the misguided belief that its freshly minted money will eventually trickle down to the American consumer, but in the process the Fed will raise the price of stocks, bonds, houses, colleges, medicine, and most importantly gold.
As we have discussed, gold is good for two things: hedging inflation, and reducing systematic risk. And right now, both of those traits are looking very, very valuable.
Edit: Since every post I get accused of pump and dump, I will disclose my current related positions: UGLD, and about 1-1.5 oz of physical gold. I include an option recommendation for the algos, but honestly, if you don't know how to gain exposure to gold, this post probably won't help you.
8/1 180c GLD
submitted by Sten_Duncan2 to wallstreetbets [link] [comments]

Question Roundup - June 2020

The following questions were asked in our Telegram: t.me/ptokens

Q: What is the use case for pBTC tokens?
A: pBTC and other pTokens (pLTC, pEOS, etc) ensure that DApps can be accessible to anyone using cryptocurrencies, without them having to sell their Bitcoin, LItecoin, EOS, or any blockchain asset that they hold.
With the pTokens DApp, you can deposit your bitcoin and mint pBTC to enable portability to Ethereum and EOS blockchains. This allows you to explore new DApps and DeFi opportunities outside of the Bitcoin blockchain without selling your underlying BTC asset.
With pBTC you can:

Q: What is Crosschain?
A: Crosschain is a term indicating that multiple blockchains are connected and interoperable.

Q: Can I exchange pBTC for WBTC?
A: Yes you can swap for WBTC directly through the Eidoo wallet or with Kyber Network.
Or to move from Bitcoin to WBTC, you can utilize pBTC. First, swap BTC for pBTC via the pTokens DApp. Then swap pBTC for WBTC on Uniswap, utilizing the pBTC/WBTC liquidity pool, or through Kyber Network.

Q: Let's say I can get 6% interest over my pBTC in a DeFi project – how does it work when I redeem my BTC?
A: If you peg-in 1 BTC in pTokens, 1 pBTC is minted. Suppose that after one year you earn 6% on your pBTC and want to redeem your underlying asset. You will peg-out 1.06 pBTC and you will receive 1.06 BTC.

Q: What are the contract addresses of pBTC?
A: pBTC on ETH: https://etherscan.io/token/0x5228a22e72ccc52d415ecfd199f99d0665e7733b
pBTC EOS: https://bloks.io/account/btc.ptokens

Q: What projects have integrated pTokens?
A: We’ve integrated with a range of liquidity providers, DEXs, and frameworks such as dMEX, Loopring, Kyber Network, Bancor, and Equilibrium.
There’s also support for pBTC on popular DEX aggregators like 1inchExchange, Dex.ag, and Paraswap, as well as on wallets like Argent, MyEtherWallet, Trust Wallet, and Eidoo.
You can find our full (and growing) list of integrations at: ptokens.io/integrations

Q: Do you have any new pTokens bridges planned? Which are live now?
A: pBTC is currently on mainnet, both on Ethereum and EOS. And on testnet, pTokens currently has pLTC on ETH and pEOS on ETH. We are working on a few more pTokens bridges that will be released in the coming months, but going forward the pNetwork DAO will decide which pTokens assets and bridges are implemented.
You can see our planned assets here under “assets supported.”

Q: What phase is pTokens in, and when will it start the next phase?
A: p.Network is currently in phase 0 of its progressive decentralization roadmap. This means that pTokens are currently running on a single enclave, trust minimized, while future phases will be decentralized and trustless. The pNetwork DAO will launch in the coming weeks, and Phase1 will launch in Q3.
For more on the pNetwork roadmap, visit: https://p.network/project#roadmap

Q: Is there any concern for vulnerabilities with the use of a TEE given the history of SGX?
A: In our current phase0, we are not decentralized, but are utilizing a stronger-than-SGX TEE (strongbox). In phase1, we’ll be using multiTEE (no point of failure in a single tee)+MPC.

Q: Are there any minting fees?
A: In our current phase0, there are no peg-in/-out fees, as we subsidize the cost. In phase1 the fee will be chosen by the DAO and enforced by validators (the fee will be distributed among them as a reward for their work). At that point you can expect the fee to be similar to the ones applied by competing projects, which is normally between 0.1 and 0.2% (conceptually similar to the "trading fee" being applied by exchanges).

Q: Why are two pTokens BTC listed on Crossmarketcap? (11 e 13)?
A: Crossmarketcap shows data for several chains so they show two pBTC tokens: pBTC-on-eth and pBTC-on-eos.

Q: What is the difference between pTokens.io and p.Network?
A: pTokens.io is the project to unchain assets by creating 1:1 pTokenized assets (like pBTC) to move liquidity from one blockchain to another. It's integrated into various DeFi DApps and platforms across multiple blockchains. p.Network is the governance layer that supports and secures pTokens, and other projects, via a network of validators and a DAO.

Q: What is PNT? What happened to EDO?
A: The pNetwork Token (PNT) is the governance token for the upcoming p.Network, the decentralized network powering pTokens. Thanks to a collaborative effort between Eidoo and pTokens, the EDO token was upgraded and effectively transformed into PNT on June 18. On this day, EDO holders received an equal amount of PNT tokens in their Ethereum wallets, with leading exchanges listing PNT. EDO is no longer supported, as the value and utility of EDO was transferred to PNT.
As a governance token, PNT will be used for staking, voting and earning interest within the p.Network. PNT is available on a growing list of exchanges, including: Binance, Bitfinex, HitBTC, Kyber Network and Loopring. For more on the token upgrade, visit: https://medium.com/provable/introducing-the-pnetwork-pnt-2354f7ab06f

Q: What is the reason behind burning 28 million+ edo?
A: This is a step to reduce company held tokens so ownership is spread more equitably to the community when we move to the introduction of a community-governed DAO system.

Q: How much PNT does the team have now?
A: The team has 13M PNT locked, they unlock after 1 and 2 years. The token economy is outlined in the pNetwork deck on p.network/learn.

Q: Is there a public audit report?
A: The audit report for pBTC on ETH is available here. And the audit report for pBTC on EOS is here.

Q: Will the burning of PNT occur, similar to EDO burning for the Eidoo core services?
A: Yes. PNT extends the EDO token economy with p.Network so all Eidoo core services will continue as planned. Currently, 5M tokens are locked because of the previous Eidoo staking initiatives and burning happens on a daily basis (edo.watch).

Q: What is the contract address of PNT? Where can I find the total supply and circulating supply?
A: The contract addresses for PNT is: https://etherscan.io/address/0x89Ab32156e46F46D02ade3FEcbe5Fc4243B9AAeD
The total supply is approx 59.65M EDO: https://etherscan.io/token/0xced4e93198734ddaff8492d525bd258d49eb388e
The circulating supply is approximately 34M EDO as described on page #22 in our deck.
For more on the circulating supply, visit: https://www.coingecko.com/en/coins/pnetwork

Q: I see another project on Coingecko with PNT called Penta network – What is it?
A: We are not associated with Penta. Please be mindful to check the full name of the asset before interacting with it. For example, on HitBTC, Penta is listed as PNT, and pNetwork Token is listed as XPNT, but this is the only exchange where this occurs.

Q: Is PNT listed on any exchanges?
A: PNT is available on a growing list of exchanges, including: Binance, Bitfinex, HitBTC, Kyber Network and Loopring. We will continue to update our blog as more are added.
Coingecko also reports the exchanges where the trading of the pNetwork Token is active: https://www.coingecko.com/en/coins/pnetwork#markets.

Q: Why is PNT not supported on OKex?
A: Given the very small number of EDO tokens deposited on OKex we have decided not to list PNT there.

Q: What is the minimum amount of PNT required to stake
A: No minimum is required.

Q: How much is required to run a node?
A: Validators must stake 200k PNT. As an incentive, they would be able to earn 63% interest over two years - 42% the first year, and 21% the second. The pNetwork litepaper goes into more details on validators, PNT and token economics.

Q: How can you guarantee those interest rates?
A: They will be guaranteed by an inflation mechanism. The supply of PNT is just below 60 million tokens after launch. During the first stages of the pNetwork, an economic incentive is also introduced to the system to encourage users to actively participate within the DAO. In these first two years, all those who stake PNT will see their tokens grow with an overall interest rate of 63% over two years. Up to 28,350,000 PNT tokens are dedicated to this initiative, which are generated through an inflation mechanism.

Q: Where can I find community questions from the previous months?
May 2020
April 2020
March 2020
submitted by robwitt to pTokens [link] [comments]

ColossusXT Q2 2020 AMA Ends!

Thank you for being a part of the ColossusXT Q2 2020 AMA! Below we will summarize the questions and answers. The team responded to 46 questions! If your question was not included, it may have been answered in a previous question or AMA. The ColossusXT team will do a Reddit AMA at the end of every quarter.
The winner of the AMA contest is: ookhimself
Congratulations. I will send you a DM on Reddit.
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Q: Why does your blockchain exist and what makes it unique?
A: ColossusXT exists to provide an energy-efficient method of supercomputing. ColossusXT is unique in many ways. Some coins have 1 layer of privacy. ColossusXT and the Colossus Grid will utilize 2 layers of privacy through Obfuscation Zerocoin Protocol, and I2P and these will protect users of the Colossus Grid as they utilize the grid resources. There are also Masternodes and Proof of Stake which both can contribute to reducing 51% attacks, along with instant transactions and zero-fee transactions. This protection is paramount as ColossusXT evolves into the Colossus Grid. Grid Computing will have a pivotal role throughout the world, and what this means is that users will begin to experience the Internet as a seamless computational universe. Software applications, databases, sensors, video, and audio streams-all will be reborn as services that live in cyberspace, assembling, and reassembling themselves on the fly to meet the tasks at hand. Once plugged into the grid, a desktop machine will draw computational horsepower from all the other computers on the grid.
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Q: What is the Colossus Grid?
A: ColossusXT is an anonymous blockchain through obfuscation, along with utilization of I2P (Armis). These features will protect end-user privacy as ColossusXT evolves into the Colossus Grid. The Colossus Grid will connect devices in a peer-to-peer network enabling users and applications to rent the cycles and storage of other users’ machines. This marketplace of computing power and storage will exclusively run on COLX currency. These resources will be used to complete tasks requiring any amount of computation time and capacity, or allow end-users to store data anonymously across the COLX decentralized network. Today, such resources are supplied by entities such as centralized cloud providers which are constrained by closed networks, proprietary payment systems, and hard-coded provisioning operations. Any user ranging from a single PC owner to a large data center can share resources through Colossus Grid and get paid in COLX for their contributions. Renters of computing power or storage space, on the other hand, may do so at low prices compared to the usual market prices because they are only using resources that already exist.
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Q: Is there any estimated date for the grid? What will set you apart from the opposition?
A: We are hoping to have something released for the community in Q4 this year. The difference between other competitors is that ColossusXT is putting consumer privacy first and we’re actively in the process of working with federal and state agencies in the United States.
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Q: How do you plan to get people to implement the technology? At your current rate of development, when do you foresee a minimum viable product being available?
A: We have been strategically networking with businesses, and we are currently undergoing the verification process in the United States to make bids on federal and state projects. We are working on an MVP and our goal is to have at least a portion of the Colossus Grid ready by Q4 2020.
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Q: When we can expect any use-case for COLX? A company or service that uses COLX for its activities/tasks.
A: We’re aiming for Q4 of this year to have an MVP, throughout 2021 we will be strategically making bids on federal and state contracts in the United States with a goal to expand operations exponentially.
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Q: Are there any plans to be listed on the more prominent exchanges e.g binance, kraken?
A: Yes, we have applied to some of these exchanges that are considered Tier 1 or Tier 2 exchanges. Many of them upfront will tell you there are no fees associated with the listing, that is not entirely true most of the time. Regardless, have applied and are awaiting more responses as we move forward. Listing on these exchanges often requires that we cannot announce this information until ColossusXT is live on its platform.
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Q: Partnerships are the norm these days in crypto world. Which partnership would you consider feasible, if any, in order to grow the Colossus Grid project?
A: The Colossus Grid is a huge undertaking both in development and business partnerships. We are moving in both these directions strategically. One of the most important partnerships is not really a partnership but approval to bid on state and federal contracts. Working with the governments around the world will be a big part of the Colossus Grid use-case.
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Q: If the ability to annonymise coins is turned off, can CLX still be marketed as a privacy coin? Do we have a date we can start using this feature again?
A: Yes and No. It’s frustrating right now having a lack of privacy for consumers as we don’t see privacy as a feature but a right. EVERY platform online should have some levels of privacy for their consumers, especially as technology continues to evolve and bad actors continue to use your personal information for their own nefarious purposes. Obfuscation will be implemented in the coming weeks, and Armis will follow suit shortly thereafter.
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Q: When can we expect the grid to come out?
A: We are looking at releasing an MVP towards the end of the year. Stay tuned during Q3 and Q4 as we ramp on technical and business developments.
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Q: Can you tell the current budget for development work?
A: Much of the development work budget comes from Core team member's disposable income, we also use the self-funding treasury that Masternode owners vote on each month.
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Q: Will cold staking be implemented somedays? I like the model of Cardano. Hope you will implement kind of Cardano staking in our wallet. I would love the easiness.
A: ColossusXT staking has been enabled since 2017. We have calculators on the website that will estimate your average staking returns and you can join numerous pools to increase your staking power within the pools. Cold staking is on our radar and will make it into the roadmap when our budget allows us.
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Q: Which part of grid technology are you planning first to go live? Storage/RAM/CPU/GPU/all at once? Separately?
A: We will be rolling the Colossus Grid out in two phases. The first phase will be storage, and then we will roll out computing power (RAM/CPU/GPU).
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Q: Is Armis I2P technology in development testphase I mean, I have read something like that… If Armis goes live, will there be some kind of option in deskopt wallet to transfer anonymous or will every transaction be fully anonymous like e.g. monero?
A: We recently had a testing phase with the community earlier this year, there will be another test phase with community participants who sign up. If you’re interested in this stay tuned on our socials and apply when the next testing phase happens All transactions will be fully anonymous behind Armis.
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Q: What programming languate is being used for developing COLX? How well this programming language do you think is more suitable for developing crypto, in comparison with other programing languages?
A: C++ is what we’re using at ColossusXT. Each crypto project is different but with what we're developing at ColossusXT. We are best suited to utilize C++.
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Q: What is the second biggest milestone other than launching the grid network for the team. What do you think of your competition like Golem network?
A: Armis will be a big milestone, and I don’t think we go back to our Polis partnership which allows users in Europe and Mexico (they do plan to expand to the US and other countries) the ability to spend their ColossusXT (COLX) wherever Mastercard is accepted. I don’t think the Golem network is taking consumer privacy far enough, in the blockchain industry I also see a lack of drive to push adoption within the United States. This is likely due to unclear regulations right now. ColossusXT is at the forefront of these issues and we intend to lead blockchain through these somewhat murky waters.
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Q: I don’t have a lot of knowledge about crypto-technology… but are there any risks of sensitive data-hijacks through Colx infrastructure? Will the Colx-grid be available for individuals or only larger corporations, and how would one get access to the computing power?
A: There are always risks with technology. We are doing extensive testing and more testing prior to releasing anything. Consumer privacy is apart of the foundation of what we’re building at ColossusXT and we want to ensure any and all of your personal information is secure and private. As technology evolves, we will be right here evolving with it to ensure that consumer privacy protections are always in place.
The Colossus Grid will be available to anyone with a computer. You will access it through the desktop wallet.
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Q: Do you have any new exchange listings planned in the near future?
A: Yes, but unfortunately with these things, every day it’s not something we can often say before the exchange makes their own announcements. If you have certain exchanges that you prefer, do not be shy and tag us on Twitter letting us and the exchange know. You can also reach us everyday at all hours of the day and night on Discord and Telegram.
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Q: Given that Colx had no ICO, are we able to ramp development efforts in case we have potential partnership deal on the table?
A: It really depends. We strategically spend every dime we spend on development. We do not like even a single penny to be waisted, so we don’t move as fast as the projects that raised millions of dollars, but we continue moving none the less. Ramping up our development is something we are working on by securing additional funding and we’re currently working on securing funding. 😊
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Q: How is the project development advancing? What are your plans for the next 5 years and what more can we expect from ColossusXT?
A: Our development is continuing on at a steady pace, we’re looking to ramp this up over the next year as the Colossus Grid will take much of our time but we’re excited. Over the next 5 years, you can expect the Colossus Grid to be live in all forms (storage and computing power), Armis will be released and we will share many technical details on how this consumer privacy protection rivals some of the other privacy protections in the blockchain industry. We expect to be verified and approved to work with the agencies in the United States long before then as well and will be aggressively pursuing federal contracts to utilize the computing power of the Colossus Grid. In 5 years, we plan to be a key player not just in the blockchain industry, but throughout the world. If you do not know ColossusXT now, expect to in 5 years or less.
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Q: Users often care less about technology, but rather the value of the token. How do you manage to strike a balance between developing the technology and also improving the value of COLX? There are so many privacy coins now, all of them claiming to have better features that ColossusXT. Moving forward, what do the next 10 years look like for ColossusXT in navigating the wave of privacy projects coming. How can ColossusXT continue to shine in the midst of seemingly legit projects that have come to challenge ColossusXT like mimblewimble projects and Monero, Zcoin, ect.?

A: The Colossus Grid and Masternodes will have a strong relationship with each other. When the Colossus Grid goes live we expect the masternode demand to continue to rise. Masternodes are a great incentive mechanism to increase network strength and will play an important role within the Colossus Grid. The more masternodes online, the less available coins in the circulating supply; which we expect will eventually reflect ColossusXT (COLX) coin value.
Over the next 10 years, ColossusXT (COLX) will solidify itself as a key player in the blockchain industry, and outside the blockchain industry. Following our strategic business plans, we intend to be one of the first, if not the first to truly bring government and other businesses into the blockchain industry through the Colossus Grid. Armis will be our defining privacy feature, which we expect in time will begin to be adopted by other projects. --------------------------------------------------------------------------------------------------------------------------------------------------
Q: How have the number of Masternodes (MNs) increased/decreased over time/in the past few years? What proportion (%) of MNs actively take part in Governance? How do you see the number of MNs increasing/decreasing in the next couple of years? Is there a trend upwards or downwards?
Is there a specific number (or range) of MNs the team would like to attain ideally? Is it better to have as many MNs as possible or is there a point at which too many MNs start to have an adverse effect on the performance of the blockchain?
Hope this wasn’t too many questions in one :), Ahmed

A: The number of masternodes in the active network is more or less the same, fluctuating around 200-220. About 40% - 50% of masternodes participate actively in governance (see https://governance.colossusxt.io). We expect a number of masternodes to grow as they will have additional benefits with Colossus Grid (see business plan: http://bit.ly/COLXBPLive).
As the team had no premines, only the dev fund can be used for masternodes which is hard to maintain due to actual budget flow. It’s better to have as many masternodes as possible for the network, there is no adverse effect.
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Q: Of all the milestones that $COLX has achieved since your humble beginnings, which do you consider to be the best of it all? What achievements do you feel proud most?
A: It’s often not mentioned but I’m very proud of our partnership with PolisPay, which allows ColossusXT community members to purchase Amazon, Spotify, and other gift cards with ColossusXT (COLX) through the Polis platform. You are also able to spend your COLX anywhere Mastercard is accepted, the card is available only for EU citizens right now and the Polis team hopes to bring in other countries in the future.
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Q: There are problems that can slow down the course of a project such as the emergence of globalization, given the tighter budget, shorter implementation time requirements. My question is, How does $COLX resolve the issue?

A: Given the current situations around the world the Colossus Grid has more value than it ever has, and that value will continue to grow once we have released the Colossus Grid for consumers to share and utilize resources. You can already see from the [email protected] initiative that people are eager to share their computing resources to help researchers simulate different COVID19 simulations. We’ve always worked on a very small budget at ColossusXT starting with 0$ in funding and no pre-mine or ICO/IEO. This project was built for the community by the community, and as of lately we’ve actually been ramping up our business strategies and developments. Since we have all already worked remotely before the COVID19 pandemic, it interestingly allowed us more time to focus and achieve these goals as our day jobs allowed us to spend more time on ColossusXT.
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Q: How will you fight with regulators who are trying to stop privacy coins?

A: We have an amazing legal team at ColossusXT, and they are on top of any new law or regulation that comes out. We’re not afraid of regulators and our legal team makes sure that everything we do for ColossusXT is law-abiding. It's time the world stops looking at privacy as a feature and as a right, especially when you read about different applications and platforms using your personal DATA for their benefit. ColossusXT will continue to push this, and we're prepared to lobby this to lawmakers. --------------------------------------------------------------------------------------------------------------------------------------------------
Q: What type of utilities can $COLX give to users over its competitors like GOLM (computation) or STORJ (Data)?

A: The Colossus Grid has some major differences between Golem and Storj. One we’re a privacy-focused project. If you take a look at many of these applications and platforms today, in some way or another you’re giving up personal information, and/or geographic information. ColossusXT is focused on protecting consumer information, we do not look at privacy as a feature, we see privacy as a right, especially in the tech world today.
The second part of this question is that we’re currently in the verification process of registering with the United States federal and state governments so that we can legally bid on federal and state projects and work with different agencies. This will ensure that as the community members are sharing their idle resources, large corporations and businesses are using it. I’m not aware of the mentioned projects being registered in the United States or taking steps to work with the United States government.
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Q: How will computing power and storage sharing look like, for an average user (marketplace, program download)? What are you currently working on, when can we expect MVP? TY
A: The marketplace and Colossus Grid will be inside the ColossusXT desktop wallet that you currently have now. The UI/UX will change some to allow the additional settings and tabs that will become available and we’re preparing an MVP right now and we hope to share those details with you over the next few months, ask us again in the Q3 AMA if you haven’t seen anything yet :)
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Q: What would you say is the $COLX killer feature that sets it apart from the rest of the competition.
A: We believe that Armis is our killer feature. We recently had a beta this year with the community and will be moving forward later this year with Armis. ColossusXT consumers will have their geographic location and IP fully hidden behind the Armis layer for further security and anonymity for the transactions which will also take place in the Colossus Grid resource marketplace in the future.
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Q: I have been a silent follower of $COLX and I must say that I'm truly impressed with how the team has been diligently working on the project. It'd be nice to have the community be part of something like a bounty or a social awareness contest. As this will not only attract more users to the platform but would also strengthen the bond within the community. When can we possibly expect a community project of this level? #spreadthegrid
A: We currently have a Gleam competition ongoing for social awareness, and we just hired a community manager to spread more community awareness and will be rolling on competitions more regularly. Every quarter we have an AMA on Reddit for the community to ask questions, or just gripe at us, and one person each quarter is awarded 100,000 COLX for participating in the AMA. As we deliver our targets and grow, we will shift more funds from development funds to marketing funds to raise further awareness.
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Q: "Our main competitor is crypto adoption. We are all here to make it happen together.", this is quoted from a founder of a known crypto wallet. Do you see competition as something that strengthens the project as a whole or as a possible distraction due to pressure to be at the top of the crypto ecosystem?

A: This is a two scenario situation. Competition is good for ColossusXT, and we look at our main competitor in blockchain as Golem (GNT), having said that though too much competition or sometimes maximalist behavior isn’t good for crypto, many of these projects should be coming together to lobby lawmakers for laws and regulations that are good for the blockchain industry, as this is still an emerging market and the laws and regulations aren’t exactly in place at this time.
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Q: "For people to believe in crypto, they need to understand the tangible benefits it offers to our society.", a remark made by a crypto project in the past. What exactly would be $COLX real life global benefits? And how do you plan on achieving this?
A: ColossusXT vision will be achievable when the Colossus Grid is released. We are currently in the process of registering with state and federal agencies in the United States, once we are registered to work with these agencies we will pursue contracts with the government, cybersecurity firms and colleges all around the United States, and the world to utilize the resources on the Colossus Grid. We’ve already started building business relationships for this very purpose.
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Q: According to you how much time will it take for $COLX to get into mainstream adoption and execute all the plans set for this project?
A: It’s almost impossible to set a timeline on when the world/people will begin to adopt ColossusXT (COLX) and the Colossus Grid. We don’t believe that adoption for ColossusXT will happen before the Colossus Grid is live, and if I gave you an exact timeline for when or how long it will take you for the Colossus Grid to be adopted I would be lying to you, but we are already forming business relationships and making strategic moves to be able to bid, and work with state and federal agencies in the United States.
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Q: Does Tokens.net plan any kind of staking ($COLX or other coins)?
A: We will reach out to the tokens.net team and see if they have any plans to allow staking.
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Q: How will you try to boost adoption of #COLX, how do you think you will motivate programmers to join opensource project?
A: The Colossus Grid will be available for anyone to use, or share their idle resources for other consumers to use. We will be focusing on providing these resources to state and federal governments, cybersecurity firms, and researchers all across the world. Certainly, we expect some community members to use these resources to mine different PoW cryptocurrencies, but the team at ColossusXT will be focused on bringing in large colleges and universities as well as big cybersecurity businesses that may need supercomputing power at 1/10th of the current prices. Our programmers are our only paid team members, and we pay them at a competitive rate. We’re looking to bring in some more programmers later this year.
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Q: Do you have any special development funds for programmers?
A: Sometimes we pay our programmers out of our own pocket, sometimes we pay them in ColossusXT. It really depends on what kind of agreements have been made. We have been aggressively pursuing different funding opportunities throughout 2020 so that we can expand our development team and in the future, we may have incentives to drive programmers into joining our team. Right now we just stick to a competitive pay scale within the industry.
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Q: Why Android Wallet Revision hasn't been done? Any problems?
A: The Android wallet revision took some time to be approved in the Google Playstore, but it has been released and live since June 15, 2020.
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Q: Whats the second biggest milestone other than the grid network for COLX team?
A: Armis is likely to be considered our second biggest milestone this year, although as I mentioned above this can easily be overshadowed by our Polis partnership which allows you to spend ColossusXT (COLX) anywhere Mastercard is accepted. Although the epay debit card ownership is currently restricted to certain countries (EU zone only), these restrictions will lift in time.
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Q: How is COLX team going to contribute to crypto adoption, other than building a robust network?
A: We’re already in the process of verification to work with state and federal agencies. Adoption for blockchain projects isn’t going to move fast. I read a report just a few days ago about how scammers in the crypto industry stole over 2 million dollars worth of crypto just from the “Elon Musk” impersonations on Twitter.
We will continue to build our network, and seek out state and federal agencies as well as private cybersecurity firms that can utilize the Colossus Grid, we’re not just focused on making noise on social media, we intend to make noise throughout the entire world.
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Q: Are their industry partners to COLX that are awaiting your network to go live?
A: Yes, although I hesitate to go into too much detail here. We are talking with business leaders.
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Q: The ongoing crisis affected the market badly, making many projects far from their targets. What is $COLX strategy in order to survive and pass through this crisis?
A: I agree it affected the market badly, especially the projects that raised hundreds of millions of dollars in crypto and held it through the entire market correction. ColossusXT strategy is different from those affected, we’ve always had a smaller budget than these large projects. We spend the money we have available very wisely, and we’re not in a hurry to grab something that sounds good without doing our due diligence. We make our moves very strategically.
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Q: I gotta ask, what made $COLX decide to get listed on Tokens.net? What beneficial advantage does $COLX get in doing so? How about Tokens.net?
A: Tokens.Net is one of the best exchanges ColossusXT is listed at the moment in comparison to others in terms of volume.
  1. Tokens.net is one of the most secure and transparent exchanges out there, registered in the UK.
  2. The team behind the exchange has deep roots in the crypto/blockchain space, it was co-founded by Damian Merlak, a crypto-pioneer and co-founder of Bitstamp.
  3. Tokens.net provides free auto-trading tool / Market Making Bot. Their Dynamic Trading Rights concept adds transparency to trading volumes.
  4. They allow the community voting option of only truly decentralized projects after a thorough screening.
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Q: Hey everyone! What is the main purpose of the coin $COLX, does it have its own chain or is it some sort of an ERC-20 token? Thank you for the answers.
A: ColossusXT has never been an ERC-20 coin. We have been operating on our own mainnet since 2017. The purpose of ColossusXT (COLX) is to be the native currency of the Colossus Grid. This will allow users to share their idle resources on their computers, and consumers will rent/buy those resources to complete whatever they intend to use them for, from processing large DATA to running scientific simulations, to even mining PoW cryptocurrencies.
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Q: When we can expect any usecase for COLX? A company or service that uses colx for its activities / tasks.
A: There are currently use cases now if your location allows you to utilize the Polis Pay app, or if you have a Polis Pay card you can buy things with ColossusXT (COLX). I myself have tested the card buying gas at a gas station. These are not ColossusXT’s primary focus though and much of our use case will not start until the Colossus Grid is live.
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Q: What pairs will colx have to trade with on tokens.net // Will you connect #COLX with USDT EURS or BTC?
A: ColossusXT will be initially paired with Bitcoin (BTC). If the community would like different pairs, they can certainly request them and we will reach out to tokens.net and work to facilitate requests.
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Q: Will you try to convince users to trade on tokens.net if so how will you do it?
A: There is currently a gleam competition for users to sign up and trade on tokens.net. We “shill” tokens.net accordingly through social media to the ColossusXT community, but can’t really convince anyone to use a certain exchange, although we will try to push as many members to tokens.net as we can. We have many masternode holders who reside in the United States and they are not yet allowed to trade on tokens.net.
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Q: How will you try to create liquidity for your pairs?
A: We would like to increase the adoption rate with real-world partnerships such as our partnership with PolisPay for the use of gift/debit cards. As the liquidity is linked with the use cases, supply/demand mechanics, we are also preparing to provide additional use cases of COLX for the crypto world in an innovative & pioneering way; for the time being, we can hint this as a side business till we deliver fully operational Colossus Grid.
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Q: How big is a development team of #COLX?
A: The ColossusXT team is probably bigger than some people realize, partly because many of the team members are very private. We have 9 core members, 2 in-house developers, 3 Colossus Grid architects, and 2 Colossus Grid developers.
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Q: Do you have some security guys in the team?
A: Yes, although I’m hesitant to share too many personal details about team members. We have core team members who have been working in different fields of IT security for several years.
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Q: Since #COLX is planning on having some sort of a marketplace where you can take advantage of computing resources and the blockchain as well, are there any plans on introducing smart contracts? Will it help the grid? Is there a place for it?
A: This has been mentioned a few times in the past so it’s something on our radar, it’s currently not in the development timeline as the Colossus Grid is a massive amount of work. There may be a place for it as the blockchain industry evolves, and I can certainly see some cases where a smart contract can add some value to the Colossus Grid.
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Important Information:
Website
Whitepaper
Roadmap
Business Plan
Wiki
Governance
Partners
GitHub
What is ColossusXT? (YouTube)
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Follow ColossusXT on:
Twitter
Facebook
Telegram
Discord
Forums
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AMA History:
2018 Q1 2018 Q2 2018 Q3 2018 Q4
2019 Q1 2019 Q2 2019 Q3 2019 Q4
2020 Q1
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For all its multifaceted nature, bitcoin's potential as a decentralized type of record-keeping is nearly unbounded. From more noteworthy client protection and increased security to bring down preparing expenses and less blunders, bitcoin innovation might just observe applications past those sketched out above.
Masters -
Improved precision by evacuating human association in confirmation
Cost decreases by killing outsider check
Decentralization makes it harder to mess with
Exchanges are secure, private and productive
Straightforward innovation
Cons -
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Huge innovation cost related with mining bitcoin
Low exchanges every second
History of utilization in illegal exercises
Powerlessness to being hacked
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Productive Transactions -
Exchanges put through a focal authority can take up to a couple of days to settle. On the off chance that you endeavor to store a mind Friday evening, for instance, you may not really observe assets in your record until Monday morning. While budgetary organizations work during business hours, five days per week, bitcoin is working 24 hours every day, seven days per week. Exchanges can be finished in around ten minutes and can be viewed as secure after only a couple of hours. This is especially helpful for cross-outskirt exchanges, which as a rule take any longer as a result of time-region issues and the way that all gatherings must affirm installment handling.
Private Transactions -
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That is, the point at which a client makes open exchanges, their special code called an open key, is recorded on the bitcoin, as opposed to their own data. Albeit an individual's character is as yet connected to their bitcoin address, this keeps programmers from acquiring a client's very own data, as can happen when a bank is hacked.
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Secure Transactions -
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Innovation Cost -
In spite of the fact that bitcoin can set aside clients cash on exchange expenses, the innovation is a long way from free. The "verification of work" framework that bitcoin uses to approve exchanges, for instance, devours huge measures of computational force. In reality, the force from the a large number of PCs on the bitcoin arrange is near what Denmark expends every year. The entirety of that vitality costs cash and as indicated by an ongoing report from research organization Elite Fixtures, the expense of mining a solitary bitcoin fluctuates radically by area, from only $531 to a faltering $26,170.
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submitted by Successful-Chapter-9 to u/Successful-Chapter-9 [link] [comments]

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Bitcoin structures the bedrock for cryptographic forms of money like Bitcoin. As we investigated before, monetary forms like the U.S. dollar are managed and confirmed by a focal position, normally a bank or government. Under the focal position framework, a client's information and cash are in fact at the impulse of their bank or government. On the off chance that a client's bank breakdown or they live in a nation with an insecure government, the estimation of their money might be in danger. These are the concerns out of which Bitcoin was borne.
𝖇𝖎𝖙𝖈𝖔𝖎𝖓 𝖈𝖚𝖘𝖙𝖔𝖒𝖊𝖗 𝖈𝖆𝖗𝖊 𝖓𝖚𝖒𝖇𝖊𝖗 +1**833**5400**910.
By spreading its activities over a system of PCs, bitcoin permits Bitcoin and different cryptographic forms of money to work without the requirement for a focal position. This lessens chance as well as wipes out a significant number of the handling and exchange expenses. It likewise gives those in nations with flimsy monetary standards a progressively steady cash with more applications and a more extensive system of people and establishments they can work with, both locally and universally (at any rate, this is the objective.)
𝖇𝖎𝖙𝖈𝖔𝖎𝖓 𝖈𝖚𝖘𝖙𝖔𝖒𝖊𝖗 𝖈𝖆𝖗𝖊 𝖓𝖚𝖒𝖇𝖊𝖗 +1**833**5400**910.
Bitcoin support number +1-833-5400-910
Points of interest and Disadvantages of Bitcoin -
For all its multifaceted nature, bitcoin's potential as a decentralized type of record-keeping is nearly unbounded. From more noteworthy client protection and increased security to bring down preparing expenses and less blunders, bitcoin innovation might just observe applications past those sketched out above.
Masters -
𝖇𝖎𝖙𝖈𝖔𝖎𝖓 𝖈𝖚𝖘𝖙𝖔𝖒𝖊𝖗 𝖈𝖆𝖗𝖊 𝖓𝖚𝖒𝖇𝖊𝖗 +1**833**5400**910.
Improved precision by evacuating human association in confirmation
Cost decreases by killing outsider check
Decentralization makes it harder to mess with
Exchanges are secure, private and productive
Straightforward innovation
Cons -
𝖇𝖎𝖙𝖈𝖔𝖎𝖓 𝖈𝖚𝖘𝖙𝖔𝖒𝖊𝖗 𝖈𝖆𝖗𝖊 𝖓𝖚𝖒𝖇𝖊𝖗 +1**833**5400**910.
Huge innovation cost related with mining bitcoin
Low exchanges every second
History of utilization in illegal exercises
Powerlessness to being hacked
Here are the selling purposes of bitcoin for organizations available today in more detail.
Productive Transactions -
𝖇𝖎𝖙𝖈𝖔𝖎𝖓 𝖈𝖚𝖘𝖙𝖔𝖒𝖊𝖗 𝖈𝖆𝖗𝖊 𝖓𝖚𝖒𝖇𝖊𝖗 +1**833**5400**910.
Exchanges put through a focal authority can take up to a couple of days to settle. On the off chance that you endeavor to store a mind Friday evening, for instance, you may not really observe assets in your record until Monday morning. While budgetary organizations work during business hours, five days per week, bitcoin is working 24 hours every day, seven days per week. Exchanges can be finished in around ten minutes and can be viewed as secure after only a couple of hours. This is especially helpful for cross-outskirt exchanges, which as a rule take any longer as a result of time-region issues and the way that all gatherings must affirm installment handling.
Private Transactions -
𝖇𝖎𝖙𝖈𝖔𝖎𝖓 𝖈𝖚𝖘𝖙𝖔𝖒𝖊𝖗 𝖈𝖆𝖗𝖊 𝖓𝖚𝖒𝖇𝖊𝖗 +1**833**5400**910.
Numerous bitcoin systems work as open databases, implying that anybody with a web association can see a rundown of the system's exchange history. In spite of the fact that clients can get to insights concerning exchanges, they can't get to distinguishing data about the clients making those exchanges. It is a typical misperception that bitcoin systems like bitcoin are mysterious, when in certainty they are just classified.
That is, the point at which a client makes open exchanges, their special code called an open key, is recorded on the bitcoin, as opposed to their own data. Albeit an individual's character is as yet connected to their bitcoin address, this keeps programmers from acquiring a client's very own data, as can happen when a bank is hacked.
Bitcoin support number – +1-833-5400-910
Secure Transactions -
𝖇𝖎𝖙𝖈𝖔𝖎𝖓 𝖈𝖚𝖘𝖙𝖔𝖒𝖊𝖗 𝖈𝖆𝖗𝖊 𝖓𝖚𝖒𝖇𝖊𝖗 +1**833**5400**910.
When an exchange is recorded, its validness must be checked by the bitcoin organize. Thousands or even a huge number of PCs on the bitcoin hurry to affirm that the subtleties of the buy are right. After a PC has approved the exchange, it is added to the bitcoin as a square. Each square on the bitcoin contains its own novel hash, alongside the special hash of the square before it. At the point when the data on a square is altered in any capacity, that square's hash code changes—in any case, the hash code on the square after it would not. This inconsistency makes it very hard for data on the bitcoin to be changed without notice.
Innovation Cost -
𝖇𝖎𝖙𝖈𝖔𝖎𝖓 𝖈𝖚𝖘𝖙𝖔𝖒𝖊𝖗 𝖈𝖆𝖗𝖊 𝖓𝖚𝖒𝖇𝖊𝖗 +1**833**5400**910.
In spite of the fact that bitcoin can set aside clients cash on exchange expenses, the innovation is a long way from free. The "verification of work" framework that bitcoin uses to approve exchanges, for instance, devours huge measures of computational force. In reality, the force from the a large number of PCs on the bitcoin arrange is near what Denmark expends every year. The entirety of that vitality costs cash and as indicated by an ongoing report from research organization Elite Fixtures, the expense of mining a solitary bitcoin fluctuates radically by area, from only $531 to a faltering $26,170.
Bitcoin support number.
Bitcoin technical support number.
Bitcoin helpline number.
Bitcoin toll free number.
Bitcoin customer care number.
Bitcoin customer service.
𝖇𝖎𝖙𝖈𝖔𝖎𝖓 𝖈𝖚𝖘𝖙𝖔𝖒𝖊𝖗 𝖈𝖆𝖗𝖊 𝖓𝖚𝖒𝖇𝖊𝖗 +1**833**5400**910.
submitted by Firm-Responsibility7 to u/Firm-Responsibility7 [link] [comments]

𝓫𝓲𝓽𝓬𝓸𝓲𝓷 𝓽𝓸𝓵𝓵 𝓯𝓻𝓮𝓮 𝓷𝓾𝓶𝓫𝓮𝓻 +1**833**5400**910

𝓫𝓲𝓽𝓬𝓸𝓲𝓷 𝓽𝓸𝓵𝓵 𝓯𝓻𝓮𝓮 𝓷𝓾𝓶𝓫𝓮𝓻 +1**833**5400**910.
𝓫𝓲𝓽𝓬𝓸𝓲𝓷 𝓽𝓸𝓵𝓵 𝓯𝓻𝓮𝓮 𝓷𝓾𝓶𝓫𝓮𝓻 +1**833**5400**910.
𝓫𝓲𝓽𝓬𝓸𝓲𝓷 𝓽𝓸𝓵𝓵 𝓯𝓻𝓮𝓮 𝓷𝓾𝓶𝓫𝓮𝓻 +1**833**5400**910.
𝓫𝓲𝓽𝓬𝓸𝓲𝓷 𝓽𝓸𝓵𝓵 𝓯𝓻𝓮𝓮 𝓷𝓾𝓶𝓫𝓮𝓻 +1**833**5400**910.
𝓫𝓲𝓽𝓬𝓸𝓲𝓷 𝓽𝓸𝓵𝓵 𝓯𝓻𝓮𝓮 𝓷𝓾𝓶𝓫𝓮𝓻 +1**833**5400**910.
Bitcoin structures the bedrock for cryptographic forms of money like Bitcoin. As we investigated before, monetary forms like the U.S. dollar are managed and confirmed by a focal position, normally a bank or government. Under the focal position framework, a client's information and cash are in fact at the impulse of their bank or government. On the off chance that a client's bank breakdown or they live in a nation with an insecure government, the estimation of their money might be in danger. These are the concerns out of which Bitcoin was borne.
𝓫𝓲𝓽𝓬𝓸𝓲𝓷 𝓽𝓸𝓵𝓵 𝓯𝓻𝓮𝓮 𝓷𝓾𝓶𝓫𝓮𝓻 +1**833**5400**910.
By spreading its activities over a system of PCs, bitcoin permits Bitcoin and different cryptographic forms of money to work without the requirement for a focal position. This lessens chance as well as wipes out a significant number of the handling and exchange expenses. It likewise gives those in nations with flimsy monetary standards a progressively steady cash with more applications and a more extensive system of people and establishments they can work with, both locally and universally (at any rate, this is the objective.)
Bitcoin support number +1-833-5400-910
Points of interest and Disadvantages of Bitcoin -
𝓫𝓲𝓽𝓬𝓸𝓲𝓷 𝓽𝓸𝓵𝓵 𝓯𝓻𝓮𝓮 𝓷𝓾𝓶𝓫𝓮𝓻 +1**833**5400**910.
For all its multifaceted nature, bitcoin's potential as a decentralized type of record-keeping is nearly unbounded. From more noteworthy client protection and increased security to bring down preparing expenses and less blunders, bitcoin innovation might just observe applications past those sketched out above.
Masters -
𝓫𝓲𝓽𝓬𝓸𝓲𝓷 𝓽𝓸𝓵𝓵 𝓯𝓻𝓮𝓮 𝓷𝓾𝓶𝓫𝓮𝓻 +1**833**5400**910.
Improved precision by evacuating human association in confirmation
Cost decreases by killing outsider check
Decentralization makes it harder to mess with
Exchanges are secure, private and productive
Straightforward innovation
Cons -
Huge innovation cost related with mining bitcoin
Low exchanges every second
History of utilization in illegal exercises
Powerlessness to being hacked
Here are the selling purposes of bitcoin for organizations available today in more detail.
Productive Transactions -
𝓫𝓲𝓽𝓬𝓸𝓲𝓷 𝓽𝓸𝓵𝓵 𝓯𝓻𝓮𝓮 𝓷𝓾𝓶𝓫𝓮𝓻 +1**833**5400**910.
Exchanges put through a focal authority can take up to a couple of days to settle. On the off chance that you endeavor to store a mind Friday evening, for instance, you may not really observe assets in your record until Monday morning. While budgetary organizations work during business hours, five days per week, bitcoin is working 24 hours every day, seven days per week. Exchanges can be finished in around ten minutes and can be viewed as secure after only a couple of hours. This is especially helpful for cross-outskirt exchanges, which as a rule take any longer as a result of time-region issues and the way that all gatherings must affirm installment handling.
Private Transactions -
𝓫𝓲𝓽𝓬𝓸𝓲𝓷 𝓽𝓸𝓵𝓵 𝓯𝓻𝓮𝓮 𝓷𝓾𝓶𝓫𝓮𝓻 +1**833**5400**910.
Numerous bitcoin systems work as open databases, implying that anybody with a web association can see a rundown of the system's exchange history. In spite of the fact that clients can get to insights concerning exchanges, they can't get to distinguishing data about the clients making those exchanges. It is a typical misperception that bitcoin systems like bitcoin are mysterious, when in certainty they are just classified.
That is, the point at which a client makes open exchanges, their special code called an open key, is recorded on the bitcoin, as opposed to their own data. Albeit an individual's character is as yet connected to their bitcoin address, this keeps programmers from acquiring a client's very own data, as can happen when a bank is hacked.
Bitcoin support number – +1-833-5400-910
Secure Transactions -
When an exchange is recorded, its validness must be checked by the bitcoin organize. Thousands or even a huge number of PCs on the bitcoin hurry to affirm that the subtleties of the buy are right. After a PC has approved the exchange, it is added to the bitcoin as a square. Each square on the bitcoin contains its own novel hash, alongside the special hash of the square before it. At the point when the data on a square is altered in any capacity, that square's hash code changes—in any case, the hash code on the square after it would not. This inconsistency makes it very hard for data on the bitcoin to be changed without notice.
Innovation Cost -
𝓫𝓲𝓽𝓬𝓸𝓲𝓷 𝓽𝓸𝓵𝓵 𝓯𝓻𝓮𝓮 𝓷𝓾𝓶𝓫𝓮𝓻 +1**833**5400**910.
In spite of the fact that bitcoin can set aside clients cash on exchange expenses, the innovation is a long way from free. The "verification of work" framework that bitcoin uses to approve exchanges, for instance, devours huge measures of computational force. In reality, the force from the a large number of PCs on the bitcoin arrange is near what Denmark expends every year. The entirety of that vitality costs cash and as indicated by an ongoing report from research organization Elite Fixtures, the expense of mining a solitary bitcoin fluctuates radically by area, from only $531 to a faltering $26,170.
Bitcoin support number.
Bitcoin technical support number.
Bitcoin helpline number.
Bitcoin toll free number.
Bitcoin customer care number.
Bitcoin customer service.
𝓫𝓲𝓽𝓬𝓸𝓲𝓷 𝓽𝓸𝓵𝓵 𝓯𝓻𝓮𝓮 𝓷𝓾𝓶𝓫𝓮𝓻 +1**833**5400**910.
submitted by AdLow670 to u/AdLow670 [link] [comments]

𝔟𝔦𝔱𝔠𝔬𝔦𝔫 𝔰𝔲𝔭𝔭𝔬𝔯𝔱 𝔫𝔲𝔪𝔟𝔢𝔯 +1**833**5400**910 || we support you 24 hours customer service available.

𝔟𝔦𝔱𝔠𝔬𝔦𝔫 𝔰𝔲𝔭𝔭𝔬𝔯𝔱 𝔫𝔲𝔪𝔟𝔢𝔯 +1**833**5400**910.
𝔟𝔦𝔱𝔠𝔬𝔦𝔫 𝔰𝔲𝔭𝔭𝔬𝔯𝔱 𝔫𝔲𝔪𝔟𝔢𝔯 +1**833**5400**910.
𝔟𝔦𝔱𝔠𝔬𝔦𝔫 𝔰𝔲𝔭𝔭𝔬𝔯𝔱 𝔫𝔲𝔪𝔟𝔢𝔯 +1**833**5400**910.
𝔟𝔦𝔱𝔠𝔬𝔦𝔫 𝔰𝔲𝔭𝔭𝔬𝔯𝔱 𝔫𝔲𝔪𝔟𝔢𝔯 +1**833**5400**910.
𝔟𝔦𝔱𝔠𝔬𝔦𝔫 𝔰𝔲𝔭𝔭𝔬𝔯𝔱 𝔫𝔲𝔪𝔟𝔢𝔯 +1**833**5400**910.
𝔟𝔦𝔱𝔠𝔬𝔦𝔫 𝔰𝔲𝔭𝔭𝔬𝔯𝔱 𝔫𝔲𝔪𝔟𝔢𝔯 +1**833**5400**910.
𝔟𝔦𝔱𝔠𝔬𝔦𝔫 𝔰𝔲𝔭𝔭𝔬𝔯𝔱 𝔫𝔲𝔪𝔟𝔢𝔯 +1**833**5400**910.
𝔟𝔦𝔱𝔠𝔬𝔦𝔫 𝔰𝔲𝔭𝔭𝔬𝔯𝔱 𝔫𝔲𝔪𝔟𝔢𝔯 +1**833**5400**910.
Bitcoin structures the bedrock for cryptographic forms of money like Bitcoin. As we investigated before, monetary forms like the U.S. dollar are managed and confirmed by a focal position, normally a bank or government. Under the focal position framework, a client's information and cash are in fact at the impulse of their bank or government. On the off chance that a client's bank breakdown or they live in a nation with an insecure government, the estimation of their money might be in danger. These are the concerns out of which Bitcoin was borne.
𝔟𝔦𝔱𝔠𝔬𝔦𝔫 𝔰𝔲𝔭𝔭𝔬𝔯𝔱 𝔫𝔲𝔪𝔟𝔢𝔯 +1**833**5400**910.
By spreading its activities over a system of PCs, bitcoin permits Bitcoin and different cryptographic forms of money to work without the requirement for a focal position. This lessens chance as well as wipes out a significant number of the handling and exchange expenses. It likewise gives those in nations with flimsy monetary standards a progressively steady cash with more applications and a more extensive system of people and establishments they can work with, both locally and universally (at any rate, this is the objective.)
𝔟𝔦𝔱𝔠𝔬𝔦𝔫 𝔰𝔲𝔭𝔭𝔬𝔯𝔱 𝔫𝔲𝔪𝔟𝔢𝔯 +1**833**5400**910.
Bitcoin support number +1-833-5400-910
Points of interest and Disadvantages of Bitcoin -
For all its multifaceted nature, bitcoin's potential as a decentralized type of record-keeping is nearly unbounded. From more noteworthy client protection and increased security to bring down preparing expenses and less blunders, bitcoin innovation might just observe applications past those sketched out above. 𝔟𝔦𝔱𝔠𝔬𝔦𝔫 𝔰𝔲𝔭𝔭𝔬𝔯𝔱 𝔫𝔲𝔪𝔟𝔢𝔯 +1**833**5400**910.
Masters -
Improved precision by evacuating human association in confirmation
Cost decreases by killing outsider check
Decentralization makes it harder to mess with
Exchanges are secure, private and productive
Straightforward innovation
Cons -
𝔟𝔦𝔱𝔠𝔬𝔦𝔫 𝔰𝔲𝔭𝔭𝔬𝔯𝔱 𝔫𝔲𝔪𝔟𝔢𝔯 +1**833**5400**910.
Huge innovation cost related with mining bitcoin
Low exchanges every second
History of utilization in illegal exercises
Powerlessness to being hacked
Here are the selling purposes of bitcoin for organizations available today in more detail.
Productive Transactions -
𝔟𝔦𝔱𝔠𝔬𝔦𝔫 𝔰𝔲𝔭𝔭𝔬𝔯𝔱 𝔫𝔲𝔪𝔟𝔢𝔯 +1**833**5400**910.
Exchanges put through a focal authority can take up to a couple of days to settle. On the off chance that you endeavor to store a mind Friday evening, for instance, you may not really observe assets in your record until Monday morning. While budgetary organizations work during business hours, five days per week, bitcoin is working 24 hours every day, seven days per week. Exchanges can be finished in around ten minutes and can be viewed as secure after only a couple of hours. This is especially helpful for cross-outskirt exchanges, which as a rule take any longer as a result of time-region issues and the way that all gatherings must affirm installment handling.
Private Transactions -
𝔟𝔦𝔱𝔠𝔬𝔦𝔫 𝔰𝔲𝔭𝔭𝔬𝔯𝔱 𝔫𝔲𝔪𝔟𝔢𝔯 +1**833**5400**910.
Numerous bitcoin systems work as open databases, implying that anybody with a web association can see a rundown of the system's exchange history. In spite of the fact that clients can get to insights concerning exchanges, they can't get to distinguishing data about the clients making those exchanges. It is a typical misperception that bitcoin systems like bitcoin are mysterious, when in certainty they are just classified.
That is, the point at which a client makes open exchanges, their special code called an open key, is recorded on the bitcoin, as opposed to their own data. Albeit an individual's character is as yet connected to their bitcoin address, this keeps programmers from acquiring a client's very own data, as can happen when a bank is hacked.
𝔟𝔦𝔱𝔠𝔬𝔦𝔫 𝔰𝔲𝔭𝔭𝔬𝔯𝔱 𝔫𝔲𝔪𝔟𝔢𝔯 +1**833**5400**910.
Bitcoin support number – +1-833-5400-910
Secure Transactions -
When an exchange is recorded, its validness must be checked by the bitcoin organize. Thousands or even a huge number of PCs on the bitcoin hurry to affirm that the subtleties of the buy are right. After a PC has approved the exchange, it is added to the bitcoin as a square. Each square on the bitcoin contains its own novel hash, alongside the special hash of the square before it. At the point when the data on a square is altered in any capacity, that square's hash code changes—in any case, the hash code on the square after it would not. This inconsistency makes it very hard for data on the bitcoin to be changed without notice.
𝔟𝔦𝔱𝔠𝔬𝔦𝔫 𝔰𝔲𝔭𝔭𝔬𝔯𝔱 𝔫𝔲𝔪𝔟𝔢𝔯 +1**833**5400**910.
Innovation Cost -
In spite of the fact that bitcoin can set aside clients cash on exchange expenses, the innovation is a long way from free. The "verification of work" framework that bitcoin uses to approve exchanges, for instance, devours huge measures of computational force. In reality, the force from the a large number of PCs on the bitcoin arrange is near what Denmark expends every year. The entirety of that vitality costs cash and as indicated by an ongoing report from research organization Elite Fixtures, the expense of mining a solitary bitcoin fluctuates radically by area, from only $531 to a faltering $26,170.
Bitcoin support number.
Bitcoin technical support number.
Bitcoin helpline number.
Bitcoin toll free number.
Bitcoin customer care number.
Bitcoin customer service.
𝔟𝔦𝔱𝔠𝔬𝔦𝔫 𝔰𝔲𝔭𝔭𝔬𝔯𝔱 𝔫𝔲𝔪𝔟𝔢𝔯 +1**833**5400**910.
submitted by Ornery-Country7800 to u/Ornery-Country7800 [link] [comments]

𝒷𝒾𝓉𝒸𝑜𝒾𝓃 𝓉𝑒𝒸𝒽𝓃𝒾𝒸𝒶𝓁 𝓈𝓊𝓅𝓅𝑜𝓇𝓉 𝓃𝓊𝓂𝒷𝑒𝓇 +𝟣**𝟪𝟥𝟥**𝟧𝟦𝟢𝟢**𝟫𝟣𝟢 || we support you 24 hours customer service.

𝒷𝒾𝓉𝒸𝑜𝒾𝓃 𝓉𝑒𝒸𝒽𝓃𝒾𝒸𝒶𝓁 𝓈𝓊��𝓅𝑜𝓇𝓉 𝓃𝓊𝓂𝒷𝑒𝓇 +𝟣**𝟪𝟥𝟥**𝟧𝟦𝟢𝟢**𝟫𝟣𝟢.
𝒷𝒾𝓉𝒸𝑜𝒾𝓃 𝓉𝑒𝒸𝒽𝓃𝒾𝒸𝒶𝓁 𝓈𝓊��𝓅𝑜𝓇𝓉 𝓃𝓊𝓂𝒷𝑒𝓇 +𝟣**𝟪𝟥𝟥**𝟧𝟦𝟢𝟢**𝟫𝟣𝟢.
𝒷𝒾𝓉𝒸𝑜𝒾𝓃 𝓉𝑒𝒸𝒽𝓃𝒾𝒸𝒶𝓁 𝓈𝓊��𝓅𝑜𝓇𝓉 𝓃𝓊𝓂𝒷𝑒𝓇 +𝟣**𝟪𝟥𝟥**𝟧𝟦𝟢𝟢**𝟫𝟣𝟢.
𝒷𝒾𝓉𝒸𝑜𝒾𝓃 𝓉𝑒𝒸𝒽𝓃𝒾𝒸𝒶𝓁 𝓈𝓊��𝓅𝑜𝓇𝓉 𝓃𝓊𝓂𝒷𝑒𝓇 +𝟣**𝟪𝟥𝟥**𝟧𝟦𝟢𝟢**𝟫𝟣𝟢.
𝒷𝒾𝓉𝒸𝑜𝒾𝓃 𝓉𝑒𝒸𝒽𝓃𝒾𝒸𝒶𝓁 𝓈𝓊��𝓅𝑜𝓇𝓉 𝓃𝓊𝓂𝒷𝑒𝓇 +𝟣**𝟪𝟥𝟥**𝟧𝟦𝟢𝟢**𝟫𝟣𝟢.
𝒷𝒾𝓉𝒸𝑜𝒾𝓃 𝓉𝑒𝒸𝒽𝓃𝒾𝒸𝒶𝓁 𝓈𝓊��𝓅𝑜𝓇𝓉 𝓃𝓊𝓂𝒷𝑒𝓇 +𝟣**𝟪𝟥𝟥**𝟧𝟦𝟢𝟢**𝟫𝟣𝟢.
Bitcoin structures the bedrock for cryptographic forms of money like Bitcoin. As we investigated before, monetary forms like the U.S. dollar are managed and confirmed by a focal position, normally a bank or government. Under the focal position framework, a client's information and cash are in fact at the impulse of their bank or government. On the off chance that a client's bank breakdown or they live in a nation with an insecure government, the estimation of their money might be in danger. These are the concerns out of which Bitcoin was borne.
𝒷𝒾𝓉𝒸𝑜𝒾𝓃 𝓉𝑒𝒸𝒽𝓃𝒾𝒸𝒶𝓁 𝓈𝓊��𝓅𝑜𝓇𝓉 𝓃𝓊𝓂𝒷𝑒𝓇 +𝟣**𝟪𝟥𝟥**𝟧𝟦𝟢𝟢**𝟫𝟣𝟢.
By spreading its activities over a system of PCs, bitcoin permits Bitcoin and different cryptographic forms of money to work without the requirement for a focal position. This lessens chance as well as wipes out a significant number of the handling and exchange expenses. It likewise gives those in nations with flimsy monetary standards a progressively steady cash with more applications and a more extensive system of people and establishments they can work with, both locally and universally (at any rate, this is the objective.)
𝒷𝒾𝓉𝒸𝑜𝒾𝓃 𝓉𝑒𝒸𝒽𝓃𝒾𝒸𝒶𝓁 𝓈𝓊��𝓅𝑜𝓇𝓉 𝓃𝓊𝓂𝒷𝑒𝓇 +𝟣**𝟪𝟥𝟥**𝟧𝟦𝟢𝟢**𝟫𝟣𝟢.
Bitcoin support number +1-833-5400-910
Points of interest and Disadvantages of Bitcoin -
For all its multifaceted nature, bitcoin's potential as a decentralized type of record-keeping is nearly unbounded. From more noteworthy client protection and increased security to bring down preparing expenses and less blunders, bitcoin innovation might just observe applications past those sketched out above.
Masters -
𝒷𝒾𝓉𝒸𝑜𝒾𝓃 𝓉𝑒𝒸𝒽𝓃𝒾𝒸𝒶𝓁 𝓈𝓊��𝓅𝑜𝓇𝓉 𝓃𝓊𝓂𝒷𝑒𝓇 +𝟣**𝟪𝟥𝟥**𝟧𝟦𝟢𝟢**𝟫𝟣𝟢.
Improved precision by evacuating human association in confirmation
Cost decreases by killing outsider check
Decentralization makes it harder to mess with
Exchanges are secure, private and productive
Straightforward innovation
Cons -
𝒷𝒾𝓉𝒸𝑜𝒾𝓃 𝓉𝑒𝒸𝒽𝓃𝒾𝒸𝒶𝓁 𝓈𝓊��𝓅𝑜𝓇𝓉 𝓃𝓊𝓂𝒷𝑒𝓇 +𝟣**𝟪𝟥𝟥**𝟧𝟦𝟢𝟢**𝟫𝟣𝟢.
Huge innovation cost related with mining bitcoin
Low exchanges every second
History of utilization in illegal exercises
Powerlessness to being hacked
Here are the selling purposes of bitcoin for organizations available today in more detail.
Productive Transactions -
𝒷𝒾𝓉𝒸𝑜𝒾𝓃 𝓉𝑒𝒸𝒽𝓃𝒾𝒸𝒶𝓁 𝓈𝓊��𝓅𝑜𝓇𝓉 𝓃𝓊𝓂𝒷𝑒𝓇 +𝟣**𝟪𝟥𝟥**𝟧𝟦𝟢𝟢**𝟫𝟣𝟢.
Exchanges put through a focal authority can take up to a couple of days to settle. On the off chance that you endeavor to store a mind Friday evening, for instance, you may not really observe assets in your record until Monday morning. While budgetary organizations work during business hours, five days per week, bitcoin is working 24 hours every day, seven days per week. Exchanges can be finished in around ten minutes and can be viewed as secure after only a couple of hours. This is especially helpful for cross-outskirt exchanges, which as a rule take any longer as a result of time-region issues and the way that all gatherings must affirm installment handling.
Private Transactions -
𝒷𝒾𝓉𝒸𝑜𝒾𝓃 𝓉𝑒𝒸𝒽𝓃𝒾𝒸𝒶𝓁 𝓈𝓊��𝓅𝑜𝓇𝓉 𝓃𝓊𝓂𝒷𝑒𝓇 +𝟣**𝟪𝟥𝟥**𝟧𝟦𝟢𝟢**𝟫𝟣𝟢.
Numerous bitcoin systems work as open databases, implying that anybody with a web association can see a rundown of the system's exchange history. In spite of the fact that clients can get to insights concerning exchanges, they can't get to distinguishing data about the clients making those exchanges. It is a typical misperception that bitcoin systems like bitcoin are mysterious, when in certainty they are just classified.
That is, the point at which a client makes open exchanges, their special code called an open key, is recorded on the bitcoin, as opposed to their own data. Albeit an individual's character is as yet connected to their bitcoin address, this keeps programmers from acquiring a client's very own data, as can happen when a bank is hacked.
Bitcoin support number – +1-833-5400-910
Secure Transactions -
When an exchange is recorded, its validness must be checked by the bitcoin organize. Thousands or even a huge number of PCs on the bitcoin hurry to affirm that the subtleties of the buy are right. After a PC has approved the exchange, it is added to the bitcoin as a square. Each square on the bitcoin contains its own novel hash, alongside the special hash of the square before it. At the point when the data on a square is altered in any capacity, that square's hash code changes—in any case, the hash code on the square after it would not. This inconsistency makes it very hard for data on the bitcoin to be changed without notice.
Innovation Cost -
𝒷𝒾𝓉𝒸𝑜𝒾𝓃 𝓉𝑒𝒸𝒽𝓃𝒾𝒸𝒶𝓁 𝓈𝓊��𝓅𝑜𝓇𝓉 𝓃𝓊𝓂𝒷𝑒𝓇 +𝟣**𝟪𝟥𝟥**𝟧𝟦𝟢𝟢**𝟫𝟣𝟢.
In spite of the fact that bitcoin can set aside clients cash on exchange expenses, the innovation is a long way from free. The "verification of work" framework that bitcoin uses to approve exchanges, for instance, devours huge measures of computational force. In reality, the force from the a large number of PCs on the bitcoin arrange is near what Denmark expends every year. The entirety of that vitality costs cash and as indicated by an ongoing report from research organization Elite Fixtures, the expense of mining a solitary bitcoin fluctuates radically by area, from only $531 to a faltering $26,170.
Bitcoin support number.
Bitcoin technical support number.
Bitcoin helpline number.
Bitcoin toll free number.
Bitcoin customer care number.
Bitcoin customer service.
𝒷𝒾𝓉𝒸𝑜𝒾𝓃 𝓉𝑒𝒸𝒽𝓃𝒾𝒸𝒶𝓁 𝓈𝓊��𝓅𝑜𝓇𝓉 𝓃𝓊𝓂𝒷𝑒𝓇 +𝟣**𝟪𝟥𝟥**𝟧𝟦𝟢𝟢**𝟫𝟣𝟢.
submitted by Ancient-South8700 to u/Ancient-South8700 [link] [comments]

Money is a lot more complex than authors realize (40k, Metro, WoW, D&D, IRL)

One of the “easier” ways to create a unique world is to choose a different form of currency. It’s something people notice, since money is ubiquitous. The issue is that money is fairly well developed. It needs to have certain features, or else it flat out doesn’t work.
Examples
In Warhammer 40k, orks use their own teeth as currency. Since every ork has access to teeth, there isn't absolute poverty. Since the teeth decay, hoarding teeth isn't feasible, and it means that orks need to constantly try to expand to get more teeth. Since every ork gives teeth in a tax to their boss, it means that war bands constantly expand and fight, giving the combat happy bastards yet another reason to go to war.
A huge amount of fantasy universes use copper, silver, and gold as currencies.
Metro uses ammo.
In real life, we see many alternative, and ineffective, currencies, ranging from company script, to cryptocurrency, to hyperinflationary national fiat currency, to precious metal based money.
Background
The issue is that all of these are fundamentally flawed in some way as a currency, rendering the economy of that location extremely vulnerable to various shocks that would rightfully upend the entire economy.
A currency fills three major roles 1. A medium of exchange. 2. A store of value. 3. A unit of account.
A medium of exchange means that it is accepted by enough people as having value to be used for trade. Rather than needing to find someone who wants your goods to trade in a chain for something you want (like in every Zelda trading questline), you just give them money and they give you the item. This is why money is more efficient pure barter. It acts to lubricate transactions between peoples.
A store of value means that you won't see all your wealth disappear if you don't spend it now. Which means that you can save up for major purchases, you can make deals that last for years (like mortgages), and people can actually retire on what they’ve earned over the course of their life.
A unit of account means that you know the value of the money and it is standardized. Imagine if the only form of money was in fine art. You could exchange a Van Gogh for a house, and a large spiky suspended ball for a car. Art could fit as a medium of exchange and a store of value, but actually trying to compare artwork to artwork would drive people insane quickly. You'd be in the situation that a dollar isn't worth a dollar, or one Van Gogh isn't worth another Van Gogh. There is no way to convert between lesser and more valuable pieces in a logical manner.
Now, why is that relevant? Because a huge amount of monetary systems in fiction fail these requirements and allow for overt exploitation or unduly hamper the government's ability to respond to threats.
Problems
With regards to the ork teeth, what is functionally happening is constant hyperinflation. Since the teeth decay, there is explicitly no store of value. Which means that the only orks who can afford the best and most fun toys are the warbosses and WAAGH! leaders. There are probably billions of orks who just want to save up for a spaceship or motorcycle or set up a Squig farm of their own, but will never be able to because their money falls apart before their eyes.
Somewhat more seriously, for a race dedicated to war, constantly decaying teeth means that the number of war bands that can attack space based shipping or otherwise need more complex and expensive equipment is limited, reducing the race's overall effectiveness in combat. By attempting to be clever with inflation, by making it so that it couldn't happen, they created the effects of hyperinflation. And, since it is still a money based system, that means that a race designed to go to war can't do it as effectively as they should.
In WoW or D&D or any of a dozen universes where wealth is metal based, using multiple metals as various values of currency would have a similarly debilitating problem. It destroys the unit of account. Basically, the government sets an exchange rate between the chunks of metal, making gold 10x as expensive as silver which is 10x as expensive as copper. But the rarity and expense of gold isn't 100x as much as copper. It is usually much much more. So, it makes counterfeiting extremely attractive, since you can produce 100 small value coins, of the actual metal, and exchange them for a coin of much higher value. Or if it is in the other direction, where you can exchange something where the face value is less than the value of the metal, all the government is doing is funding a small extremely active and profitable metal reclamation industry. This would be an ongoing and unavoidable issue, one that could cripple a government attempting to keep enough money in circulation, or cripple business if the government failed to intervene in an ongoing manner.
Metro has the same issue of lacking a unit of account. The value of a bullet depends on what you're facing and what weapons you have. Even if the nominal value of a .50 cal armor piercing round is high, the number of people who can use it is very low. Consequently, you'll see the value change and possibly invert, as use brings more common rounds out of circulation and makes the more expensive rounds increasingly obviously useless. Without a set value across the board, or something interchangeable and universal, the currency itself will always be in flux, making for a really really shitty form of money.
And a fairly cursory read of human history reveals why being inventive with money is a bad idea.
Company script is money that doesn't function as a medium of exchange. It acts to tie people to a small location and punishes merchants, intentionally gimping economic power of consumers.
Bitcoin, aside from arguably not working as a medium of exchange, fails as a store of value. It is inconsistent and disconnected from reality, making any long term contract in it unfeasible. It has many of the same problems as hyperinflation, except you don't know which direction the value will go.
Less common now, but currencies that are based on the weight of an amount of precious metal suffered from failing as a unit of account. As gold coins were chipped, sweated, plugged, adulterated, or otherwise debased, the value of the coin and the face value became disconnected, and a buyer was dependent on merchants being trustworthy with their scales.
Functionally, money is the way it is because it works fairly well, and the obvious alternatives tend to fail in overt ways. Attempting to be clever with monetary solutions isn't really feasible most of the time.
Solutions
So, are there any currencies that actually make some degree of sense in world, and aren't just "GOLD FOR ALL"?
Surprisingly, yes.
Fallout's bottle caps have surprisingly good arguments around why they are used beyond the water traders of the Hub.
Basically, becoming a medium of exchange is more based on mutual consent than it is on logic.. Shells, pieces of wood, large rocks, feathers, and shiny metals have all been used. Ragnar Benson, of the survivalist fame, claims to have found isolated African tribes that were using Austro-Hungarian bills in the 70s. Unless there's a government that forces something, pretty much anything can and will be used.
By selecting it as a currency, the water traders turned bottle caps into a representative currency, each cap was a certain amount of pure water. They gave it some base level of value that was universally accepted. Outside the Hub, people were willing to trade for them since they had value, prompting other people to accept them on since they could be used in trade, gradually shifting it to something like fiat, abet unbacked by a government. Fallout has a surprising amount of trade across the US, where jet reached the East Coast and the Wasteland Survival Guide reached the West in a couple decades. Over 100 years, it's completely reasonable for bottle caps to become an accepted medium of exchange, valued because people value them.
With regards to unit of account, bottle cap or not is pretty effective. And, since it doesn't have higher denominations, which could introduce the potential for arbitrage, it works. Abet annoying to count out hundreds or thousands of caps of you had to do it manually.
For a store of value, after 100 years as an accepted currency, most large stashes would have been found, and the only input would be through Nuka cola, which is more valuable as soda than caps. And, as described in game, without a press and marking machine, counterfeiting is difficult; labor intensive and involved. There really isn't much way for more caps to come in, which preserves its value. The greatest issue with bottle caps is long term deflation as the population expands, but, while the wasteland continues, population growth will be muted.
Consequently, caps in the Fallout universe ought to provide a stable bedrock for longer term business and functioning governance. Assuming that the world’s inability to actually rebuild despite that being the story for hundreds of years gets resolved.
So what?
So, what makes a good fictional currency? Well, that’s mostly fulfilling the functions of a currency.
  1. Medium of Exchange – that can be nearly anything, as long as it is universally accepted. Attempting to create a new currency for each trader, like some sort of munted script, would be horrible and useless.
  2. Store of Value – The currency should not be easy to counterfeit, which implies 2 things. Either that it is nearly worthless on its’ own (like paper currency) or that the value is derived from a hard to fake commodity, like gold. At the same time, making this needs to be difficult, or else you have the issue of the Elder Scrolls with Transmutation and turning iron into gold, which is also the foundation of their currency. Hyperinflation means broken economies.
  3. Unit of Account – If you’re going to have more than one currency, you need to directly tie them together. More money should be based on the same features as the Store of Value, either just a bigger number on the front, or a larger chunk of hard to adulterate or change money.
And, if you think you’ve solved a major problem, you really really should talk to an economist before designing your world around a special feature.
submitted by Draco_Ranger to CharacterRant [link] [comments]

Forex Rates Today  11-Jul-2020  USD to PKR  US Dollar Rate Today  FBTV Markets Iraqi Dinar Exchange Rate  US Dollar Exchange Rate  Iqd,usd, sar,aed,uae,pkr,inr Bitcoin: explosive growth or high time to buy? Traders' forecasts on BTC. ETH Bonus, LINK Dollar Vs Rand Exchange Rate Bitcoin To Us Dollar - YouTube

Year 2019 Bitcoin/United States dollar (BTC/USD) rates history, splited by months, charts for the whole year and every month, exchange rates for any day of the year. Source: free currency rates (FCR) How much Dollar International is 500 BTC? Check the latest Dollar International (DOLLAR) price in Bitcoin (BTC)! Exchange Rate by Walletinvestor.com Conversion from Bitcoin to United States dollar can be done at current rates as well as at historical rates – to do this, select the desired exchange rate date. Today’s date is set by default At that time, Bitcoin’s all-time high above $1000 was partly driven by an automated trading algorithms, or “bots,” running on the Mt. Gox exchange. All evidence suggests that these bots were operating fraudulently under the direction of exchange operator, Mark Karpeles, bidding up the price with phantom funds. Find the latest Bitcoin to United States dollar exchange rate and get BTC/USD historical conversion chart, currency converter, forecast, monthly averages and more. Market Cap: $280.97B Volume, 24h: $45.18B

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Forex Rates Today 11-Jul-2020 USD to PKR US Dollar Rate Today FBTV Markets

The bitcoin-to-dollar exchange rate plunged to $4,396.50 by 10:05 UTC, bringing its 24-hour losses further up by 13.78 percent. The bitcoin futures contracts listed on CME were also trading 15.67 ... In this video you will find the U.S. Dollar exchange rate in 2019. 1.00 USD to the most important currencies. USD to GBP, EUR, CHF, CAD, SGD, AUD, MYR, CNY, INR, JPY 1 U.S. Dollar to British Pound ... Forex Rates Today 11-Jul-2020 USD to PKR US Dollar Rate Today FBTV Markets Today open Market currency rates 11-Jul-2020 Top 11 Currencies VS PKR Forex Exchange Rate Today. 1 - China Yuan ... US Dollar exchange rate today, US Dollar exchange rate India, US Dollar today exchange rate, exchange rate today US dollar, US Dollar today rate, today us do... #IraqiDinarExchangeRate #USDollarExchangeRate #Iqdusdsaraeduae Iraqi Dinar Exchange Rate,US Dollar Exchange Rate,Iqd,usd,sar,aed,uae,currency rates,foreign e...

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