Showing posts from November, 2017

Could This Be The Death Of The Dollar?

Jim Reid of Deutsche Bank has joined the World Economic Forum,[1],[2] and a chorus of bankers, economists, and financial professionals in expressing serious reservations about the continued viability of the U.S. Dollar. A number of factors including the inflationary nature of fiat currency, the increasing significance of China's role in global affairs, and increases in automation have led many to question how much longer the Dollar will last as the world's reserve currency. The U.S. Dollar has been the world's reserve currency for over seventy years since the Bretton Woods Agreement in 1944 so it would be difficult for most people to remember a time when the Dollar didn't dominate the world's stage.[3] Could there be something to the idea that the Dollar could be gone sooner rather than later? The crux of this speculation rests upon the idea that Richard Nixon's decision to remove gold-backing from the U.S. Dollar in 1971 should have resulted in massive inflatio…

What you need to know about Electroneum

Electroneum is a new cryptocurrency from Great Britain aimed at smartphone users. The project started in August 2015 as a fork of Cryptonote improved with the open-source Bytecoin upgrades in August 2016 and combines blockchain technology with a viral marketing application to encourage adoption. The platform includes web and mobile wallets with built-in mining software to create a “Mobile Mining Experience.” Electroneum's mining software separates “Full Miners” who run on Windows, Linux, and Macs to secure the network from “Mobile Miners” who receive rewards for helping with marketing through a gamified interface.

To encourage adoption, Electroneum uses a money supply of twenty-one billion tokens that round to two decimal places to avoid the complexity of a system with twenty-one million digital coins and many decimal places like Bitcoin.2 The built-in mining system allows for simplified access to mining capabilities and currency to begin transacting with, promoting CPU mining i…