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Das passiert, wenn man mit Email Scammern schreibt
Hallo zusammen, vor ein paar Tagen hatte ich nach Steam Gift Cards gefragt(Bild von Steam Geschenkkarten) um einen dieser tollen Email Scammer zu ärgern. Um euch den Spaß nicht vorzuenthalten, gibt es hier den Emailaustausch. Zeitlich korrekt und DSGVO konform anonymisiert: #1: Mi 01.04.2020 04:13 Betreff: Are you Available?
...hello I need a favor from you please email me back soon as possible. Regards Mein Chef sent from my iPhone
#2: Mi 01.04.2020 04:35(Nachts im halbschlaf auf dem Handy geantwortet, hab nicht realisiert, dass es ein scammer ist)
Hallo CHEF, Ich bin verfügbar. Gruß ICH
#3: Mi 1.04.2020 04:59
Sie müssen mir Geschenkkarten aus jedem Geschäft in Ihrer Nähe besorgen. Es gibt einige Aussichten, die ich brauche, um Geschenkkarten zu verschicken, aber ich kann das nicht richtig machen Jetzt, weil ich gerade im Krankenhaus bin und mich um meinen Bruder kümmere, der schwer krank ist. Lassen Sie mich wissen, ob Sie das bekommen können Ich jetzt, damit ich Ihnen sagen kann, welches Produkt ich brauche und welche Menge. Vielen Dank von meinem Iphone gesendet
#4: Mi 01.04.2020 09:38
Hi, ich hab welche auf deinen Schreibtisch gelegt, Gruß J
#5: Mi 1.04.2020 11:05
so gut, hol mir eine Steam Wallet INR 500 und schick sie mir jetzt, es ist sehr dringend .. sent from my iPhone
#6: Mi 01.04.2020 11:23
Hi, sie hatten nur 10€ Gutscheinkarten, aber davon gleich genug. Hier sind die ersten Codes, es ist eine ganz schöne Arbeit die alle Abzutippen. Aber ich hoffe sie helfen dir. Die Kassiererin meinte, dass es einige Stunde dauern kann, bis sie Aktiviert sind. UVP40-GY8N7-ZM8EK RRYIX-20JG8-VJAP6 6WSUE-CFCX7-H1PVP RLF7P-D4EWU-B0O8Q G32K5-B573W-PF3M1 WJ7DY-8399B-6SBO4 PAEJ2-T9VGL-MWX5X 6MM32-9VS3X-O7MZK SYSVA-CFQ3N-ERXW2 7HKCC-QBGO8-T3UK5 Gruß J
Hi, they are valid, please be patient, the cashier said it would take some time to activate. Attached you find a picture of the cards, so you don’t think I am lying to you. How is your brother, I heard he is worse? How does your sister cope with the situation? In the mean time I typed up some of the next codes 26ADS-DQQHO-I0LD1 ATOBQ-LQIOE-DJ1P1 QZQDL-D68ND-QOIBM QBR1W-3UIOA-QWRQ1 ORQOQ-QDQQ3-QQDAY OIINI-OOODW-018OU 8C1FS-WG7QE-Q6LQD O1MOA-Q1IRA-5RIQO ZRO81-U1QZD-OOYTI The problem is, that due to the corona outbreak no non essential shops are open and my glasses broke last weak. I might read some of the characters wrong, so you might try a 1 instead of I or so. I am terribly sorry, but nothing I can do about it right now. Regards, J
#11: Do 02.04.2020 09:45
still waiting for the rest...
#12: Do 02.04.2020 09:46
but why can't you send me the scratch pictures, so it can be easy for them.
#13: Do 02.04.2020 09:56
Kindly send the full picture of the cards for reference.
#14: Do 02.04.2020 10:34
Hey ME, the code are invalid, why can't you get it, in other stores or pharmacy around in you Thanks
Hi, there is something of a global pandemic happening right now, which is slightly influencing everyday life, which I hope you have heard until now. I am still waiting for the next opportunity to do my own grocery shopping, so you have to wait too. The cards are in your office, so you have to wait for a picture of the codes until I am around the next time but I have picture of one card and a few more codes HG82-U0Z75-IST10 OQOB0-LI0EP-VI1UB QQ8DJ-IU10D-1RA0I DF0KN-9S4PQ-PWX00 The cashier said it might take up to 48h to activate, due to the covid-19 pandemic. So be patient. Regards J
#16: Do 02.04.2020 11:55
send me the pictures.. Thanks
#17: Do 02.04.2020 16:38 (Bilder von euren Geschenkkarten)
Hi, there is still a lockdown in progress, all the corona pandemic thing, you know? But nevertheless, some pictures for you. Best regards, J
#18: Do 02.04.2020 16:43
okay... send me the rest pictures... Thanks
#19: Do 02.04.2020 16:57
Hi ME, all this cards are in invalid and been used.... Thanks
#20: Do 02.04.2020 16:58
Can you do me a favor, did you have a bitcoin account...thanks Sent from my iPhone
#21: Do 02.04.2020 17:00 als Antwort auf #19
Hi, that can’t be the case. I tested all of them and they worked! Regards J
#22: Do 02.04.2020 17:02
#23: Do 02.04.2020 17:02
Should i send my bitcoin account thanks
#24: Do 02.04.2020 17:04
What’s a bitcoin?
#25: Do 02.04.2020 17:06
Okay, how can you get the card for me, it vert urgent.
#26: Do 02.04.2020 17:08
Well, the easiest is to go to your office yourself and get them. Or ask your secretary to bring them over tomorrow. I won’t be in the office for the next day due to the lockdown.
#27: Do 02.04.2020 17:11
today but I can’t do that right now because I’m currently busy in the Hospital attending to a friend, he's critically ill .Let me know if its possible to get them right now, . I’ll reimburse you. Sent from my iPhone
#28: Do 02.04.2020 17:21
I am terrible sorry you had to degrade your brother to just a friend, but I am unable to go to the office right now. I feel like I catched the corona-virus and should self-isolate for the next 14 days. Best regards J
#29: Fr 03.04.2020 23:19 (Ich hab sein Email-Account an Google gemeldet, anscheinend wurde er gesperrt, denn diese Email kam von einer neuen Mail Adresse)
Hi Mein Nachname, Kindly block and don't reply this particular mail ([email protected]) again, because i have some issues with it right now. Regards, Nachname, VornameTitel Sent from my iPhone
#30: Fr 03.04.2020 23:21
I will not answer to this email again
#31: Fr 03.04.2020 23:21
#32: Fr 03.04.2020 23:23 (Bild von euren Steam Geschenkkarten)
Btw, do you still want the steam gift cards? I had the time to take a photo of a few more. Regards J
#33: Fr 03.04.2020 23:23
How is your friend in the hospital doing?
#34: Fr 03.04.2020 23:28 (Als Antwort auf #32)
Okay,but the prospect are complaining about the €20 cards. Kindly purchase the value of €100 gift cards. Thanks for helping me out.
#35: Fr 03.04.2020 23:32
Who of your friends are complaining about free money? And again, there is something of a global pandemic going around now, there is no casual shopping going to happen. So accept the 1ß€ and 20€ gift cards.
#36: Fr 03.04.2020 23:31
You are to purchase 7 pieces.. Thanks
#37: Fr 03.04.2020 23:33
You can also purchase them online for me..
#38: Fr 03.04.2020 23:36
Whats this online? Is this a new store?
#39: Fr 03.04.2020 23:36 (Als Antwort auf die #36)
I am to purchase nothing as the law stated that there is no leaving the house for non essential purchases. As this won’t keep me from starving, this is a non essential purchase and I am not willing to be shot by the police for some steam gift cards. I already put in some great effort to get you these in these times and you act so unthankful. Your brother is dying and nothing we do for you is worth anything!
#40: Fr 03.04.2020 23:43 (Als Antwort auf #38)
I understand the situation,but can you get them done for me early tomorrow morning?
#41: Fr 03.04.2020 23:45
No, early tomorrow is impossible. You know I have the kids and can’t go shopping in this time.
#42: Fr 03.04.2020 23:46
Ok, no problem.
#43: Sa 04.04.2020 10:20
Hi Vorname good morning.. Thanks
#44: Sa 04.04.2020 13:07
Hi, how is your brother. Is he better now?
#45: Sa 04.04.2020 13:12
Yes i will kindly need your assistance this morning and i will be glad if you render your help for me. Thanks
#46: Sa 04.04.2020 14:18
Should I meet you in the office?
#47: Sa 04.04.2020 14:28
Hi Vorname am not in office still in hospital now.. Thanks
Seit der letzten Email kam nicht mehr. Möglicherweise habe ich auch seinen neuen Email-Account bei Google gemeldet und er wurde gesperrt. Mein Ziel war es, mit möglichst wenig Aufwand den Scammer auf trab zu halten. Um sein Interesse nicht zu verlieren, spiele ich bewusst grenzwertig Dumm und Naiv, was genau die Zielgruppe dieser Menschen ist. Die Bilder sollen ihn antürlich bei Stange halten, ansonsten könnte er auf die Idee kommen, dass ich gar keine echten Karten gekauft habe. Die Codes habe ich schnell Online generiert. Nach dem Hinweis mit der Brille habe ich bewusst Codes generiert, die Überprobortional viele verwechselbare Buchstaben beinhalten. Ich hoffe er hat ein para Stunden damit verbracht, alle möglichen Kombinationen auszuprobieren.
Energi is a self-funding (no ICO and no premine) cryptocurrency that has a purpose to become the world’s leading cryptocurrency with the unification of Smart Contracts, Governance and Self-funding Treasury to ensure longevity and enable rapid growth. You can read more about why we decided to self-fund and chose not to conduct an ICO here. Energi provides a small allocation to Proof-of-Stake (PoS) rewards, takes a bulk of the coin issuance and gives it to its treasury and active Masternodes. Energi also allocates 10% on-going reward to the leadership of the Energi Backbone, which is significantly less compared to today’s ICOs’ rewarding their founders between 20–50% of the tokens distributed. Another trait that sets Energi apart from ICOs is they give an on-going 10% allocation through each block reward, rather than rewarding the founders up-front.
2. What are the Fundamentals of Energi?
1 minute block times and a 2 megabyte block size limit provide Energi with a vast transaction capacity for regular on-chain transactions. This allows for plenty of space on the blockchain for extremely fast transactions with very low fees. Energi features a powerful on-chain scaling solution with a system of incentivized full nodes called Energi Masternodes. A Masternode is a full node backed by 1,000 NRG collateral that provides level 2 scalability to the Energi Cryptocurrency. 40% of the emissions of Energi is allocated to Masternodes, providing an extremely strong incentive to grow the number of full nodes and scalability of the network.
A key feature of Energi is its powerful treasury system. Energi makes up to 40% of the emissions available to the treasury, to be utilized in a manner that provides maximum benefit. Treasury allocation is decentralized, allowing for submitted proposals from anyone, to be voted on by Masternodes and paid out from the emissions. Energi has a 14 day treasury cycle, allowing quick payments for proposal authors and contributors, as well as strategic responsiveness to effective proposals. Energi is guided by the principle that every dollar spent from its funding model should yield more than one dollar of value in return. Thanks to a 14 day treasury cycle, the Energi team is able to measure results and respond quickly to changes in strategy.
The Energi Treasury is a decentralized governance model designed with Masternodes as caretakers, with voting rights on how to best utilize treasury funding. This governance model reduces risk by allowing participation from everyone who holds 1,000 NRG as a Masternode. In this way, the Energi community can work together on how to best build the strategic direction of Energi.
Energi Cryptocurrency has a simple rate of inflation at 1 million coins per month with no maximum cap. This ensures consistency in funding allocation, Masternode rewards, and PoS rewards, making the economics of the cryptocurrency more understandable for everyone who chooses to participate in Energi. No coin supply limit ensures that Energi is prepared for the long term, avoiding “bubble” economics caused by dramatic early inflation that in most coins only serves to benefit founders ahead of increased adoption.
Energi conducted a fair launch on April 14, 2018 with no ICO and no premine. Prior to launch, the Energi team gave a specific time and date for the launch of its main net, which its vibrant community eagerly awaited, so that mining could begin fairly, again avoiding centralization among the coin founders (It's important to note that Energi has transitioned from Proof-of-Work consensus to a Proof-of-Stake consensus). Energi Masternode payments were designed to begin at block 216000, which occurred on September 18, 2018, almost 160 days after launch. This ensured time to list Energi on exchanges, and to grow the community, encouraging fair and equitable distribution before the extremely powerful Masternode rewards began. It is all too common for Masternode coins to feature a premine, which has the effect of centralizing distribution among the founders and early adopters. From 2018 to 2020, Energi distributed nearly 4 million coins to users who contributed to spreading awareness of the project with social media activities about Energi, such as tweets, follows, and subscriptions on all major social media platforms.
Decentralized governance with Masternodes helps to ensure everyone is able to participate in Energi and help guide the project to achieve the best results. The change to the requirement to run a Masternode, from 10 000 NRG to 1 000 NRG, has allowed more people to be involved and boosted decentralization for the whole project.
Long Term Vision
All of the above features seamlessly work together in concert, to ensure that Energi is prepared for the long term. Rather than try to closely find a niche in the market, Energi is prepared to adapt and overcome all challenges for many years to come. Energi’s use case is that of a traditional cryptocurrency, such as Bitcoin. However, Energi’s strategy is to excel by avoiding the pitfalls of previous projects, while further utilizing and improving upon the most powerful ideas in the cryptocurrency space.
3. Coin Specs
Ticker: NRG Block time: 1 minute. Hashing Algorithm: Dagger-Hashimoto (similar to Ethereum). Masternode requirements: 1,000 Energi. Treasury cycle: Every 14 days. Approximately 1 million Energi will be released per month. The allocations can be observed easily as “10/10/40/40.” 10% will go to the Energi Backbone. 10% to the PoS participants 40% to Masternodes. 40% to the Treasury. Thus, for every block, allocations are: 2.28 Energi to the Backbone, 2.28 Energi to the PoS participants, 9.14 Energi to the Treasury, and 9.14 Energi to Masternodes. Since Treasury allocations are paid in two-week cycles, they are made in lump sums of approximately 184,000 Energi every 14 days. In order to allow for widespread distribution of Energi before Masternode payments began, Masternode rewards were delayed until day 150. This was to allow the airdrop campaign to be completed and ensure a large amount of NRG is spread out through the community. Until that point, Masternode rewards were redirected to the Treasury. Thus for the first 5 months, the Treasury gained approximately 368,000 Energi every two weeks (about 800k Energi per month). The airdrop campaign was designed to release ~4 million Energi to the community.
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Betting Sites › Best Online Betting Sites in India (Feb 2020)
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Live wagering on games is offered including football, ball, tennis and other critical occasions. You can observe live spilling of your preferred round and put down online wagers. 49-Boyle SPORT Ireland biggest and free bookmaker is known as BoyleSports. They contribute in the online space by adding the top of the line applications to the google play store which offer web based wagering, club, gaming, wagering and lottery administrations. By 2004, they had 77 shops, and in 2006 they opened their 100th store. 50-BetChris In 2019, BetChris declared to enter the United Kingdom retail advertise with the popular bookmaker Gilbert. The organization's activity was extended in Northern Ireland which made the nation Ireland's biggest retail bookmaker.
Dear Pundians, Thank you for participating in the AMA session with Pundi X co-founder and CEO Zac Cheah. For those of you who may have missed it, the live recording of the AMA session held on July 3 at 10:00 am GMT+8, tackling Q2 progress and addressing questions and concerns by the community members, can be viewed here. A side note that today’s AMA video quality and setting was not ideal. We acknowledge this situation and will make improvement for our next AMA session. You may also find a summary of the Q2 progress presentation as well as all the detail Q&A below. ## Pundi X Q2 2019 Highlights * Pundi X has integrated more public chains into our products. In Q2, we completed integration of Binance Chain. NEM chain is in the work. As of today we’ve launched BNB, the Binance Chain native Coin and XEM, NEM native coin on Pundi X payment platform. We will integrate at least one more public chain in Q3. * The transactions on XPOS for Q2 is 15.5 million in USD, which is close to 300% quarterly growth. The number of transactions is 29,367, which leads to a 11% growth QoQ. * XPOS has successfully received FCC and KC certifications. A new certification for Latin American market is on the way. * To expand XPOS footprint, Pundi X’s integration with a new leading mainstream point-of-sales device is in the work. Stay tuned for the announcement. * Pundi X Open Platform was launched in May, 2019, which now supports ERC20 and BEP2 token listing. Moving forward, we will continue to support tokens from other public chains. * A 3,000 XPASS order from DigiX, a gold-based token, and a 10,000 XPASS order from BitCobie this quarter. * XPOS is spread in use in over 30 countries. We’ve published a map of XPOS location of self-report XPOS merchant directory. You can find a list of selected XPOS merchants at [https://www.pundix.com/products\](https://www.pundix.com/products). * The QoQ growth of XWallet is tremendous at 43%. In the previous quarter, we have less than 20k users, whereas in Q2 we have hit 297k XWallet users. More updates on XWallet: * Supported BNB and NEM tokens; 2FA, face ID, and optimized SMS serviceAvailable on iOS, Android as well as in Samsung Galaxy Store New features coming up in Q3:- DApp integration - Decentralized wallet- In-app crypto payments - Chat service, which will be compatible with a commonly used chat app- f(x) testnet features to be rolled out first in XWallet ## Other notices coming up in Q3 2019 * The Q2 token removal will take place on July 14, 2019, which will involve in total 34 billion of NPXS and NPXSXEM (22 million worth in USD) removal. In the past 365 days, we’ve removed a total of 36.1 million US dollar worth of NPXS and NPXSXEM. Before Q2 removal, the total supply of NPXS ERC20 is 266,962,422,906.53 and NPXSXEM is 95,816,218,929. [See Q1 removal here.](/pundix/recap-of-ama-with-zac-on-july-3-and-q2-report-a23de165dd28) * [NPXSXEM will be ported to Binance Chain from July 20](/pundix/npxsxem-will-be-on-binance-chain-c6485f17726b). * XPhone pre-order will start in late July with a new product name. Stay tuned. Check out the teaser video that we are releasing it across our communication channels. ## Q&A ## On XPOS * **Where are we on official global location of XPOS?** Zac: We have made a map on our official website that merchants can self report and feature their locations. It’s at [https://www.pundix.com/product\](https://www.pundix.com/product). We’ll be increasing and updating the map once we have permission form the merchants to update their locations. * **The marketing from pundi has shifted from 100,000–700,000 xpos units by 2021 to 100,000. I understand the bear market has affected this but please share the strategy moving forward to hit your goal. How do you feel about hitting this goal?** Zac: The 100K XPOS target has always been the initial goal and it’s stated in our whitepaper. And we are still working on achieving the goal by the end of 2021. Part of our growth strategy is to also explore the possibility to port our platform to traditional POS manufacturers to increase the adoption, which is ongoing at the moment. * **1 year ago you sent 5000 XPOS somewhere. When, at least half of them, will be working? 3 year target was 100,000 by 2021. Now we have only 150 units, how do you expect to reach this goal?** Zac: Yes, we have shipped thousands of XPOS to over 30 countries in the world. The 150 you’ve mentioned are the featured merchants which are published on the map. The active XPOS devices are deployed over 33 countries and we are actively talking to B2B partners to have higher wholesale and big deployments. * **How many XPOS are live and used?** Zac: We have gone through a very serious bear market, and some of the initial inbound requests for XPOS are not delivered. However, we are working slowly but surely with our Business Development team to not just roll-out into individual buyers, such as what we did on Pizza Day, but also to B2B partners. With the certifications approved, that will also help us to officially roll out to some of the key markets. Individual merchants can use XWallet collection feature to accept crypto payment with QR code. For the merchants who have physical offline storefronts, they can use XPOS to enable the instant crypto transaction seamlessly. Moreover, as mentioned previously, we are exploring the integration on leading traditional POS terminal so that their distributors have option to enable crypto transaction feature. As for the challenge to adopt XPOS, it is the regulatory compliance in different countries. For this, our legal team think ahead and encourage our merchants to complete KYC. I must be very honest to say the activation takes longer time than we expect but it will be worth at the end. * **What’s the average number of transactions per xpos in use?** Zac: The transaction number has increased very well. The number of each XPOS differs, due to the frequency of using crypto currency to purchase item or crypto assets. There’s no standard answer to this, but overall we see the transaction number and volume are going up. * **How do you plan to reach the target of 100,000 by 2021?** Zac: One of the challenges that we have is regulatory compliances in different countries. There are certain markets that do not allow crypto currencies and some require a clear approval for us to deploy XPOS. We are working on both challenges by talking to governments and applying for certifications. So how we plan to reach 100,000 XPOS user by 2021 is to work with distributors, B2B partners on a government / business level, and with existing POS companies to integrate our software solution into the system. * **We understand as there was bear market and hence Xpos usage demand was low. Are you guys seeing growth of Xpos usage with current market conditions. Can you guys put some statistics comparison like last 30 days Xpos usage vs any month from bear market usage?** Zac: It is very clear that as we moved out from the bear market, the demand for XPOS has been increasing. As we’ve shared just now both the transaction number and volume of Q2 have beaten Q1. We’ll be able to share more transaction numbers once we receive approval from our XPOS merchants. One exciting thing is that, with the listing of different tokens, we also see users using these tokens as a way to transact on XPOS, which means we will be having more ways to transact and this is a growth point for XPOS. * **When will there be more details for XPHONE and XPOS HANDY?** Zac: For XPOS handy, we have finished production and it will be released in Q3 * **When will the iOS version of XWallet and XPOS be fully translated to other languages?** Zac: Right now, the XWallet has Traditional Chinese, Korean, Spanish, German and English. With the latest version update, it now includes Portuguese. XPOS also comes with many languages and we hope to finish with more language, either working with professionals or volunteers. If you’re interested in volunteering, please contact us. * **When will the Merchant back office have Product Registration and SKU id ability and also integrate with other POS software?** * **When will the top-up feature go away for XPOS to allow liquidity for XPOS** Zac: We constantly update features in XPOS and merchant backend to make it easier for distributors and merchants to use. We understand that one of the ways for mass adoption is to enhance our distributor management system. With that, the distributors can manage manay XPOS at one time with different merchants. Please stay tuned as we announce more and more functions of this feature. ## On Dubai * **When will we see the deployment of the XPOS in Dubai?** * **Can we spend NPXS on the Dubai XPOS?** Zac: As with all big projects there are a lot of moving parts, that includes working very closely with the local government, in Dubai’s case, the Credit Bureau of the Finance Ministry. Things are progressing for the Dubai project but due to confidentiality agreements with the parties involved, we cannot reveal much. All we can say is that we and our Dubai partners are working hard to have XPOS roll-out in the Dubai market and the UAE. We are also discussing aggressively with Dubai partners whether to include crypto assets in the XPOS in Dubai. That clearly will involve local compliance and legal for that to happen. * **Your system upgrades expect merchants to have downtime on their XPOS terminals, can you explain if you plan to run a business why this would be considered feasible (specially at the rate you have been doing your upgrades)?** Zac: Yes, the benefit / strength of the XPOS is that most of the updates can be done on the fly. For example, when we have a token update on our XPOS where developers submit their tokens on Open Platform, the updates of this token are on the fly, which means that once we approve the token on our Open Platform, it will automatically appear on XPOS without any software updates. The great thing that we believe about XPOS is not just the support of crypto assets, but also the ability to update most things on the fly, which means that whenever we have a good feature or a new token, the updates will be done instantaneously. * **Can you guys arrange at least a community voting which is the next blockchain we would like to see next in XPOS? Voting will help to prioritize to chose the projects.** Zac: One of the reasons why BNB is being listed on the XPOS is simply because of its popularity and also our user demand, in a way that we are already answering to our community’s request. Right now, our main focus is getting all the tokens submitted on Open Platform to be listed on the XPOS. The submission process includes legal and compliance valid, so our legal and compliance teams are working hard to make sure that we have more tokens to roll out onto Open Platform, which means that they will be on XPOS, XWallet, and XPASS. As to a specific voting mechanism, we’d like to consider that and hopefully we’ll be able to run a specific voting for the chain which users would like to see. * **While comparing Xpos handy to Square POS devices at least with mobile it’s very cheap like under $30 and easy to use. When can we expect such light weight and cheaper version for XPOS? Is team working on such devices ?** Zac: There are different POS companies around the globe and pour focus is to work with these POS companies with our software, so that a crypto sales feature will be part of the existing POS system. The more support of crypto asset usage using our software on existing POS, the better it is for global adoption. We actually strongly believe that the pricing of our POS system is competitive in the market. And one of the great features of the XPOS is that the merchants will not need not to pay a certain percentage to existing acquirer but to be able to earn certain percentage from each transaction. That is the key differentiator for merchant to want to adopt this. * **From the website with some of the key Countries for XPOS adoption looks great. However, the concern is for Venezuela, there is no reference link like the others have. Can you guys add the link with details to clear the ambiguity?** Zac: Let’s give a little bit more patience so that we can actually release more information about our Venezuelan partnership. The good news is that we expect concrete news from Venezuela in the coming 2 weeks. So stay up-to-date about our Venezuelan roll out on XPOS, the best way is to subscribe to our telegram group for Venezuela. ## On Partnerships * **Are there some major partnership in the works? I’m also interested in how you do immediate transactions? Do you anticipate scaling issues?** Zac: The way XPOS is being designed is that when you use your crypto assets to purchase, it will have instantaneous confirmation because the action is an off-chain process. An on-chain action happens when a user who owns crypto assets in our system transferring the assets out of the Pundi X ecosystem to their own wallets; or to transfer crypto assets in Pundi X from an off-chain to a private wallet, which we will have very soon on XWallet itself. That is why we are able to handle scaling. When a person wants to use crypto currency to buy a coffee, the transaction will happen instantaneously. For specific partnership, especially with B2B partnership, we oblige to the NDA that we have signed. But if you follow us closely, you’ll know that we go to different parts of the world, talking to major companies to try to land more deals so that NPXS usage will increase dramatically. * **Any big partnerships for making xphone or using the software for xBlockchain?** Zac: These partnerships are also subjected to NDA, so please be patient for us to release more news. * **When will XPOS have approval to process Visa and MasterCard payments?** Zac: We have met representatives from these players including some of the key management people. They are obviously looking into crypto currency attentively, and we hope that there’s something we can do with MasterCard and/or Visa. This is something that the community has suggested and we agree fully. Please allow us with some time to work on this. We have also showcased XPOS to the CEO of MasterCard. For what or when will anything happen, please wait for our official announcement. * **What’s the status on Quantum fund and their contribution or involvement with Pundi’s project?** Zac: We announced last year that we are creating a fund to invest in projects beneficial to our ecosystem. We’ve identified some interesting projects, and we have invested in at least 1 project. The reason why we’re investing in that project is because of the services that it will bring onto the Pindi X ecosystem. So the purpose of the investment of the companies is that these companies in turn will benefit on our ecosystem. This is our key consideration. The team has evaluated the projects that will benefit the Pundi X / Function X ecosystem. Vic and his team will be able to reveal more details on the companies we have invested in and how they will contribute to our ecosystem in Q3. * **Recent update on NPXSXEM is highly ambiguous as mentioned that it will be now BEP token and later once FX goes live it will get back to Fx platform. Why you guys had so rush to use Binance chain only for few months? Isn’t you guys switching to much in a short time span?** Zac: Liquidity and utility have been an issue for NPXSXEM. Due to the design philosophy and the limit of token that can be created on NEM’s smart contract, we are only able to create a small number of tokens on NPXSXEM. By moving into the Binance chain for NPXSXEM, the BEP2 token version will be able to support all the NPXSXEM tokens, which means that we’ll migrate and also be able to make sure all the NPXSXEM tokens are under the same contract address. We believe with the strong liquidity, we will be able to give our NPXSXEM token holders a good reason of what the token holders have been waiting for. We hope to bring NPXSXEM to match the level of NPXS. * **When #XRP?** Zac: Our OpenPlatform is a currency agnostic platform, which means that we will work on integrating public chain as well as tokens that are most requested by the users. We’ll also be looking into the listing of different tokens that are being mentioned by the community. As said, we will have at least one more public chain integration in Q3, perhaps even more. * **Are you as a company going to try and connect with libra? If they have said they want to be a payment remittance service, have Square, PayPal, Visa on board I as an investor would prefer you try to join them rather than beat such large competitors** Zac: Of course, we’ll be delighted to work with Facebook and also the Libra coin. Pundi X and XPOS is a currency agnostic / currency neutral platform, if there’s opportunity to list Libra coin or work with Facebook in different ways to promote crypto currency adoption, we’ll certainly look into that and work on reaching out to them. ## On Trading * **Can you confirm during AMA, Pundi team is not involved with any trading with their own token like selling over time to manage the fund to run the company.** Zac: All the wallet addresses of the team holdings are disclosed and transparent. This is one of the first things that we did after ICO. Hence, our token holdings are transparent and everyone can monitor our fund transactions. Also, we have strict internal financial regulation and compliance, shows that we are here to build a long-term project. The best way to make NPXS or the NPXSXEM to rise is real daily life use case. * **When will you stop manipulating NPXS chart?** Zac: Our focus has always been and will be building great products. The more product usage, the demands for NPXS and NPXSXEM will increase. Let’s address again that, Pundi X the company is NOT involved in any manipulation of the NPXS price. There are trading teams, market makers, financial institutions that profit from the drop and rise of token prices in the crypto market. The good thing about NPXS is that we have managed to create a high liquidity by listing on 40+ exchanges and having global trades and demand from all over the world. We hope this and coupled with the fact that we are a solid product and roll out the use cases, the demand of NPXS will only continue to rise and will be able to deter any of the traders or speculators there is for NPXS. These traders gain profit from manipulating tokens whether BTC or other tokens. In fact, the traditional financial markets have similar challenges as well. What I want to stress is that, we at Pundi X, do NOT speculate or manipulate the price. We work very hard to create demands for NPXS and as a company, it is only beneficial for us to see the prices of NPXS and NPXSXEM rise. * **Can we please address the elephant in the room which is the Binance bot with huge sell walls and buy walls causing huge distress and concern among users?** Zac: First, I cannot confirm nor deny that whether Binance has a bot. I think this is something that you need to ask Binance. We need to work with Binance because Binance has one of the biggest liquidities, if not the greatest liquidity, for NPXS. The best way to counter manipulators is to create more use case, more demand and more acceptance of our tokens. * **Why on almost all exchanges do you not offer a USDT trading pair?** Zac: We have USDT trading pairs on Bittrex, Bittrue, and more. In addition, we have fiat pairs in Korean Won, IDR, INR, and Turkish liras. We will continue to work on adding trading pairs for NPXS to make it more liquidate. * **Why don’t you offer a stable coin sell and purchase on the xpos to help with adoption? Places in Africa with volatile currencies would go crazy for this.** Zac: It’s a great observation. This is a request that’s been asked from many users. We’re working on stable coin listing on XPOS and hopefully it’ll come soon. Stable coin requires a greater compliance and legal validate, which we have been working on since months ago and we hope to have the stable coin up in XPOS soon. * **When will you add an active tracker for coin burn, whether its measured in usd, NPXS or whatever you choose. The community has been asking for this on twitter, reddit and telegram for this entire year.** Zac: It will be hard for us to have a daily tracker of the coin burn, but what we might be able to work on is a tracker which have shown all of the tokens that have been removed from the usage. Thank you for giving us this great suggestion and we will work on it in some form. Zac: Our token supply has always been specified in our white paper, and as promised in our white paper, we will continue to remove tokens through usage and use cases, which we’re working on all the time. * **Price movement. When will NPXS go to which price?** Zac: We cannot comment on the change of the price. Our focus is on building products. We hope by doing that the NPXS value will go up. Again, there’s no way that we can comment on the price. **I believe that burning tokens every 14 weeks keeps the price suppressed and will only lead to huge pumps and dumps. Imo, If the burns were more frequent, the price would move organically.** Zac: We continue removing tokens quarterly per advised by our legal and compliance team. **Is it mandatory npxs swap? What happens for token we have in binance?** Zac: No it’s not a mandatory NPXS swap for FX. **How many NPXS or NPXSXEM was converted?** Zac: In Q2, we will remove 29B NPXSXEM and 9B NPXS. ## On XWallet * **Why not put in XWallet like the place where we can buy and sell like restaurants and shops?** Zac: You are correct. In fact, if you look at XWallet, there is a merchant feature, whereby you can register as a merchant. By becoming a merchant, you will be able to print out your QR code and stick it on your restaurant. People are able to make payment through this QR code. This will act like a mini-XPOS. * **In addition to that having multiple different blockchain in XWallet will increase the XWallet adoption. Hence, we would like to see aggressive game plan and execution from the team and would like to hear that** Zac: That’s a great suggestion. Every day we want to increase use cases for XWallet. In fact, our XWallet update is one of the most frequent in the market. Within 5 months, we have over 10 updates on iOS and Google Play. This does not include soft update which happens every several days. In my view, the effort is very tremendous. * **Is there any plan to add Swap option within XWallet so that people can trade the coins within XWallet?** Zac: Yes, there’s such plan and in fact there is an upcoming feature that people will be able to use coins in XWallet to exchange into other things. The exact form and format have not been reviewed. We hope to share more when we have concrete example. But what you suggested is what we are planning for months ago. * **When will XPOS and XWallet have fiat on ramps?** Zac: This is a good question. It’s not only involved with regulatory compliance but also involved the technical part. This is also something we are planning for months. Once approved, hopefully we are able to support fiat currency on ramps and off ramps on XWallet. **On Others*\* * **How is the internal organization doing? Currently how many employees work for Pundi? Currently how many job positions are open?** Zac: Pundi X has grown tremendously. We are now having over seven offices around the globe. I’m sitting in the Singapore office. We have office in Jakarta, Taiwan, Tokyo, Shenzhen, São Paulo and London. These are the places we have physical offices and house approximately 100 full time employees of Pundi X. The positions open from Pundi X are legal associate in Singapore and other offices. We are looking for more R&D people, especially in Taiwan. We are looking at marketing and PR people in different parts of the world. And we are looking for POS distributors. As a POS distributor, you will work with our business development team and also our technical team to roll out many XPOS which you have a network to control in your local market. * **Would you consider removing the KYC to allow u.s. holder to stake and be rewarded?** Zac: We would love to have more users, including US. However, our compliance and legal advisors have not allowed us to accept US holders to stake and be rewarded. I’m sorry to say that but this is after serious consideration to make such a decision. In fact, it is a very hard decision because we have healthy user base in the US. will continue to monitor the situation in the different markets and be compliant. There are also ways to be rewarded when using XWallet service without KYC. We are looking into to explore more on this and launch new features. Hopefully we are able to bring the beta version for you to test this week or next. **On XPhone*\* * **Where are we on pre-sale announcement of Xphone? It was highlights of Q2 goal. If we are getting delay, that’s ok. But at least community will have some clarification why it’s getting late and when approximately it coming?** Zac: Pre-sale order will start this month. It’s likely the end of July. Pre-sale will take place in different channel including the official website and XWallet. Apart of our own channel, the pre-sale will go live on a 3rd party channel. People will be able to pre-order crypto either in crypto or in fiat. * **Can you discuss in AMA, is participants can pay with Crypto or Credit/debit card or in both ways?** Zac: As a crypto company, we prefer payment in crypto, but fiat, Visa, MasterCard, and other traditional payment methods will be accepted on different pre-order channels. Stay tuned for pre-order which will happen in late July. * **Will the Xphone be open to purchase in all regions of the world?** Zac: Yes, pre-orders will be able to be done on-line, and products will be shipped from our offices to users in different parts of the world. * **Will the blockchain mode on the Xphone be operable during the testnet or will this function not work until mainnet?** Zac: XWallet and XPhone are the first channel and avenue for Function X testnet, so once the testnet is operateble, we will start to engage certain services on XWallet and XPhone into Function X testnet, and ultimately into mainnet. Slowly but surely. * **Does Xphone have hard protective cover,extra Sim slot, also is it enhanced with ip68 water rating?** Zac: XPhone will not be waterproof, so please do not submerge XPhone into water. XPhone will definitely be eavesdrop-proof because we’re using a blockchain mode, only you and you control your own conversation. * **Which country accept the Xphone?** * **Will I also be able to use the SIM-card?** * **The blockchain modus will work in every country (what in the absense of nodes)?** * **Will the XPhone I buy now support updates in the future?** Zac: People from any country will be able to buy XPhone on-line. You will be able to use a SIM for we have built a SIM slot. Wherever you are, the XPhone can be turned on to become a node. Will XPhone support future updates? Yes, of course. Just like the XPOS, we support silent update. It will be like how we support XPOS, many updates. The updates will always be supported on XPhone. **On Function X*\* * **When is the detail white paper coming for FunctionX? Why the team is very resistive to have well documented white paper? We need scientific approach and well documentation on FunctionX to have developers to be more involved.** Zac: Yes, developer involvement is a key criterion of the growth of Function X. We have done 2 things, one is that we have set up Function X Foundation which is led by David Ben Kay and will involve third party adviser and board members. Second, we have set up a developer relations team led by one of our own members as well. This team will work on creating developer documents, developer demos and sample, so that excellent developers can tap into working with Function X resources. The first version of developer documentation is ready in English and Chinese. We are still polishing up the documents and hopefully to release them soon. We are also working with third party developers, and are engaging at least 2 third party developer companies, so that we can help create their services on Function X and also XWallet. We are hoping to showcase a smooth and usable service to the audience, we think this is the key criterion of the Function X growth. Thank you for this suggestion. We need to update more often on github developer documentation as well. As for the white paper, we did not have one per se because Function X did not do an ICO. But we will continue to update our white paper and include not only technical details, but also details on the chain and how we can get more developers and users so that the future hardware will be added as a node and you will be rewarded financially, at least through our ecosystem genesis fund. Please stay tuned and there are a lot of things going on in the company. Each and one of us is working hard. * **Why does the FX ecosystem need a decentralized OS?** Zac: The mantra of Function X is decentralization and having private control of your data. A full private control of your data comes with a decentralized system not just in transmission of your data, but with the operating system built fully for decentralization , which includes a transmission protocol replacing http. The apps uploaded into Function X will be decentralized as well as the data that is stored on the app, which means that how BitCoin or crypto assets are verified on different nodes will also be part of the way we store data and content. The decentralized OS is key to fulfilling a decentralized environment for a more private and free usage. * **What about FX are you most excited about?** Zac: We are actually creating a shift of how people view of blockchain and how decentralization is not just about transacting commercial commodity, but also data, including your identity, are all decentralized. That is what we are most excited about. The only way for us to achieve this is to have developer support, for we need the developers to build on the foundation we have to offer those exciting services. * **We understand that developing a new blockchain is time consuming. As a community we are in a dark space to understand where exactly the development of FX right now.** Zac: We are working hard on creating the testnet and eventually the mainnet. For the latest updates of Function X, what I can encourage you to do is to go on and subscribe to the Function X telegram group where discussions are made. We have formed the Function X Foundation and created the developer relations team, so that the Function X progress will go smoother and with more partnership from outside, whether it’s developers, third party companies, teleco, etc. * **When FX goes live on the mainnet, will FX coin be used to stake and earn NPXS? how will staking work on that new mainnet?** Zac: The NPXS/NPXSXEM staking will last till March 9, 2020 as announced. What we are committed is to create more use cases. For FX tokens, the use cases will be focusing on the Function X Chain and the use cases on Function X that include DApp on Function X and different hardware/software services. * **When fx testnet will be available?** Zac: First I would like to thank you for your constant support. In Q3, we plan to open Function X testnet so that we will be migrating and creating certain use cases that can be used on Function X testnet, starting with our own XWallet. Which means, the XWallet will migrate some features into Function X testnet, and slowly followed by our other Pundi X products, including XPhones, XPASS, Open Platform and Function X own developer related products from third parties.
[UPDATE] All winners have been given their respective prizes. This giveaway is officially over. Thank you for participating.
[UPDATE] winners (see prize list below) notified. First, second (with a balance amount of $10) and mystery prize winners have been given their wallet codes, and I have arranged for $10 cards for the others. Since Steam requires one to be friends with the gifter for at least three days, it will take that much for the second, third and fourth prize winners to receive their codes. This giveaway is now over; I will be available on PM for trading, if anyone wants. Thanks for participating
[REQUEST] If anyone knows of legitimate websites that offer $10 and $20 wallet codes for bitcoin, please PM me. The site that I used earlier is all out of wallet codes of those denominations. Thanks for participating in my giveaway, and I hope you all have a great year ahead. Please also refer to the point below.
[UPDATE] The deadline for submitting entries is now over. I will be using the RNG and informing the winners shortly. Winners (except the grand prize winner - whom I will be sending the wallet code to right away on PM), please make sure you remember the point below this one while asking for your desired game(s). If you cannot find a suitable product wrt the below point, I will give you a Steam wallet code BUT please be advised, it will take some time, as I will be purchasing via Bitcoin.
[IMPORTANT] the below mentioned prizes are according to their equivalent values in Indian National Rupees (INR). When I buy you your game if you win, it will be according to the Indian version of the Steam store. So be sure to verify if the price of your desired game(s) falls within the range. Website : www.steamprices.com OR any other site that compares Steam prices across different countries. As of the time of writing this post, 1 USD = 63.61 INR.
Some of you on this sub might recognise me as a shameless heathen who frequently participates in giveaways (and wins some of them as well - thanks to you awesome people). I often feel guilty asking for games, while giving nothing back to this awesome subreddit. Things weren't/aren't so favourable for me either. My family doesn't like me spending money online. Since I am a high school student, I don't have a huge amount of money to purchase games. Hence, I had to look for benevolent and big-hearted people like you all. Recently, due to sheer luck, I discovered that one of my past (about an year old) Bitcoin trades (using a small amount of seed money my dad provided me) had been completed successfully. This giveaway is the first thing that I'm doing with that money, since you people are awesome beyond words, and I won't feel comfortable unless I've given something back to this wonderful community family, united by kindness and a love for gaming. I am also going to college this year, so I want to do this to ensure the goodwill/blessings (whatever you call it) of you people. Enough of my story, on to the prizes: GRAND PRIZE : a $50 Steam wallet code gone to shitty_voice (I might have to take a few lessons from you in drinking right haha). Chosen number: 195 SECOND PRIZE : any game(s) of your choice, under $30 or equivalent gone to Kwishwan, your hopes were not ill-placed. Chosen number: 784 THIRD PRIZE : any game(s) of your choice, under $10 or equivalent gone to Aquarek, have fun with it! Chosen number: 532 FOURTH PRIZE : any game(s) of your choice, under $10 or equivalent gone to -sadist, I'm glad I was able to make your month. Chosen number: 726 FIFTH (mystery) PRIZE : any game(s) of your choice, under $10 or equivalent : still left. Will choose the winner soon. snagged by u/Lolkaholic, thanks for the banter and advice. The first four prizes will be given out on the basis of a Random Number Generator (RNG), from 1 to 1000. Choose ONE number in this range, including both 1 and 1000. I will be using the RNG integrated in the Google search engine (find it by googling "random number generator") to decide the winners. The fifth prize will be a mystery prize, given out to a person of my choice (no RNG). I will NOT select based on additional information you provide with your entry, it will be a selection at my discretion only. The deadline for entries is a day from now, from the moment this post is submitted. I might not be available to select the winners immediately, due to personal constraints. But I will do so within at most 48 hours. Link your Steam IDs, so I know you're legit and not spamming. Abide by the sub's rules. Failure to do so will result in your entry not being considered. Winners will be notified via PM, and by a reply on their comments. I will also edit the post to reflect the winning entries. Go!
Please check (via Ctrl + F, or equivalent on Mac) if the number you're going to choose, hasn't already been chosen by another person! If you still decide to enter with a chosen number, I will assign arbitrary numbers to each of the entrants with the same number, and then draw another number from those. To prevent this hassle, on both your end AND mine, please choose different numbers!
Since it isn't possible to respond to everyone, thanks for the wishes, all of you. I really appreciate it.
If the number that the RNG selects has not been chosen by anyone, I will run it again until it selects a number that has been chosen by an entrant here.
Bitcoin as the Ultimate Haven from Hyperinflation: A Country By Country Analysis Of Worldwide Fiat Currency Inflation
https://cryptoiq.co/bitcoin-as-the-ultimate-haven-from-hyperinflation-a-country-by-country-analysis-of-worldwide-fiat-currency-inflation/ Bitcoin was created during the Great Recession that started in 2008, when the governments of the world printed trillions of dollars to bail out banks and corporations. Satoshi Nakamoto intended Bitcoin to be a decentralized form of money that could not be printed by governments at will. In the the Genesis Block Satoshi included the message “The Times 03/Jan/2009 Chancellor on brink of the second bailout for banks.” Fiat currencies continue to be the dominant form of global currency, but it seems logical that, if fiat currencies were to hyperinflate and collapse, Bitcoin would become the dominant global currency. This is because Bitcoin can be sent instantly anywhere in the world and is cryptographically secure. It is easy enough to integrate Bitcoin into any e-commerce store or physical store, and the customers of the future will be able to send Bitcoin from their smartphones via QR codes. Therefore, if fiat currency becomes obsolete, Bitcoin could seamlessly take its place and keep the global economy running. There has been plenty of hype that fiat currencies are collapsing, but this article will explore the current state of major fiat currencies in the world to ascertain the true situation. This is important information since the rate of fiat currency inflation by country is an important factor that will determine Bitcoin adoption rates and ultimately Bitcoin’s price. United States’ Inflation Rate The United States is perhaps the best place to start an analysis of global fiat inflation, since the USD is the world’s dominant fiat currency and perhaps the most stable long term. That being said, there is 2-3 percent annual inflation in the United States. If we split the difference at a 2.5 percent annual inflation rate, it means $100,000 stored in a bank will lose a whopping $22,400 of value over the course of 10 years, corresponding to 22.4 percent inflation per 10 years. Therefore, even in the United States, saving money long term seems impractical, and this essentially forces people to risk their savings by investing in the hopes that the money earned from investing will outpace inflation. It appears inflation will only worsen in the United States since the national debt is approaching $22 trillion, with a budget deficit of $1 trillion per year and growing. This situation will likely lead to increased money printing, which would increase the inflation rate. Therefore, saving money in USD long term does not make financial sense. Bitcoin is an alternative way to store money long term, although Bitcoin has yet to mature and can be extremely volatile from year to year. Euro (EUR) Inflation Rate Is 37.5 percent Relative To USD During The Last 10 Years One of the primary global currencies besides the USD is the Euro (EUR). For the rest of this global analysis, fiat currencies will be compared to the USD exchange rate to determine inflation, but it must be kept in mind that the USD itself is inflating at the rate of 2 to 3 percent per year. When the EUR launched in 1999, the exchange rate was one USD per 0.85 EUR. By 2002 the EUR weakened to 1.16 EUR per USD. The EUR then entered a period of vigorous strengthening, and the exchange rate fell to 0.64 EUR per USD by 2008. The Great Recession caused the EUR to begin weakening versus the USD long term, and currently each USD is worth 0.88 EUR. This represents 37.5 percent inflation relative to the USD in roughly 10 years. Back to the storing money in a bank analogy, $100,000 of EUR stored over the past 10 years would have lost the EUR inflation rate + the USD inflation rate. With this sort of inflation rate it seems dangerous to store money in EUR long term. It gets worse. The EUR is one of the top global fiat currencies, and there are many currencies doing worse than the EUR. United Kingdom’s Pound Has 65 Percent Inflation Relative to USD in 11 Years The United Kingdom (UK) is one of nine European Union (EU) countries that does not use the EUR, and eventually, the UK will leave the EU via the Brexit. However, the native Great Britain Pound (GBP) has done far worse than the Euro, with the exchange rate going from 0.48 GBP per USD in 2007 to 0.79 GBP per USD currently. This is 65 percent inflation relative to the USD during the past 11 years. Canada’s Inflation Rate Is 45.2 Percent Relative to USD During the Last 7 Years The United States’ neighbor to the north is similar to the United States in many respects. It is a fully developed and industrialized first world country. However the native fiat currency, the Canadian Dollar (CAD), has been experiencing severe inflation since the Great Recession. In 2011 1 USD was worth 0.95 CAD, and now the exchange rate is 1.36 CAD per USD. This represents 43.2 percent inflation relative to the USD since 2011, and of course, the USD has an underlying inflation rate as well of 16.2 percent during the last 7 years. Even in the first world country of Canada, it is becoming impossible to save cash for retirement or even for short-term goals like buying a house, forcing people to invest in the risky stock market. Mexico’s Inflation Rate Is 97.6 Percent Relative to the USD During Past 10 Years Since the 2008 financial crisis, the exchange rate of the Mexican Peso (MXN) has gone from 10.12 MXN per USD to 20 MXN per USD. This represents 97.6 percent inflation relative to the USD, and USD inflation means the true Mexican inflation rate is well over 100 percent per 10 years. This sort of inflation rate ensures that people have to work their entire lives and can never retire, and overall, this sort of inflation can cause the entire economy of Mexico to struggle. Bitcoin seems like an obvious alternative to holding MXN long term. It is quite shocking that a country bordering the United States has such high inflation, yet the mainstream media never mentions it. Russia Has 194 Percent Inflation Relative to USD Since the 2008 Great Recession Russia is a global superpower, with a gross domestic product (GDP) of $1.58 trillion versus the United States’ $19.39 trillion GDP. Despite being a superpower, the native currency of Russia, the Russian Ruble (RUB), has gone from 23.48 RUB per USD in 2008 to 69.08 RUB per USD currently. This yields a 194 percent 10 year inflation rate relative to the USD. Clearly, the Great Recession that started in 2008 is a common point when fiat inflation accelerated in many countries around the world. Japan’s Inflation Rate Is 46 Percent Relative to USD Over the Past 7 Years Japan is a first-world country and has one of the most important stock markets in the world. The GDP of Japan is ranked number three in the world at nearly $5 trillion. However, its inflation rate is far higher than the United States, at least since 2011. In 2011, the exchange rate was 76 JPY per USD, but it has now risen to 111 JPY per USD, a 46 percent inflation rate relative to the USD over the past 7 years. This is actually almost exactly the same as Canada’s inflation rate. China’s Inflation Is Only 14.4 Percent Relative to USD Since 2013, but China Tightly Controls the CNY China is the second ranking economy in the world with a $12 trillion GDP. Its position as the number one trading partner of the United States gives it power to manipulate the exchange rate of its native currency the Chinese Yuan (CNY). The CNY actually strengthened greatly versus the USD until 2013, when China relaxed its control over the CNY exchange rate to make it more competitive in the global import and export markets. Chinese control over the CNY and therefore, control over the profitability of Chinese imports, is a primary reason for the “trade war” between China and the United States. Since allowing the CNY to lose value relative to the USD, the exchange rate has gone from 6.04 CNY per USD in 2013 to 6.91 CNY per USD currently, a 14.4 percent inflation relative to the USD in 5 years. China is an outlier and has one of the lowest inflation rates relative to the USD. Switzerland Has One Of The Lowest Inflation Rates At Less Than 5 percent Relative To The USD In 7 Years Switzerland has remained independent of the European Union and does not use the EUR. Instead, it uses the Swiss Franc (CHF). The CHF actually strengthened greatly relative to the USD during the Great Recession, but the trend reversed in 2011. There was a rapid devaluation of the CHF relative to the USD from 0.76 CHF per USD to 0.94 CHF per USD during 2011. In The 7 years since then, the CHF has roughly five percent inflation relative to the USD and sits at 0.99 CHF per USD currently. That being said, it cannot be forgotten that the USD itself is experiencing 2.5 percent inflation per year, so even countries that have low inflation rates relative to the USD have a significant inflation rate overall. India Has Seen 79 Percent Inflation Relative to USD Since the Great Recession Began India has the sixth highest GDP in the world at $2.6 trillion, and the second highest population at 1.34 billion. Since the Great Recession began, the Indian Rupee (INR) has gone from 39.18 per USD to 70.14 INR per USD, a 79 percent inflation relative to the USD in 11 years. Unfortunately, India is slowly making Bitcoin more illegal and could fully outlaw it, so citizens may have to break the law in the future in the event that inflation accelerates and Bitcoin becomes a preferred way to store money. Indonesia Has 76 Percent Inflation Relative to the USD in Seven Years Indonesia has a population of 265 million, not far behind the United States, but its GDP is 20 times less than the United States at $1 trillion. Part of the reason Indonesia’s economy is weaker may be that the native fiat currency, the Indonesian Rupiah (IDR) has gone from 8,250 per USD in 2011 to 14,550 IDR per USD currently. This is 76 percent inflation relative to the USD in 7 years, around the same rate as India. However, Indonesia has banned Bitcoin as of 2018, which would make it difficult for citizens to use Bitcoin in the event inflation spirals out of control. Brazil Has 152 percent Inflation Relative To USD In Past Seven Years, Despite Being the Strongest Economy In South America Brazil has the most powerful economy in South America with a $2 trillion GDP. However, South America as a whole is experiencing out of control hyperinflation, and Brazil seems to be feeling the effects. The Brazilian Real (BRL) has gone from 1.55 per USD in 2011 to 3.91 BRL per USD currently. This is 152 percent inflation relative to the USD in 7 years. There does not appear to be any inflation safe haven in South America, and this could make South America a Bitcoin adoption hotspot. Venezuela Has Ridiculous Inflation Around One million percent Per Year; Bolivar Collapsing The end game of fiat currency inflation, if left unchecked, is currency collapse. A classic example of currency collapse is the situation in Venezuela, where the Cafe Con Leche Index suggests 400,000 percent inflation per year, although if a shorter term average is used it is 1 million percent per year or more. It would be shocking if the native fiat currency of Venezuela, the Sovereign Bolivar (VES), is still usable one year from now. Bitcoin is legal in Venezuela, and there is plenty of news which indicates people are abandoning the VES for Bitcoin. South Korea Has Zero Inflation Relative to the USD South Korea is considered a powerful economy relative to most of the world, with a GDP of $1.5 trillion despite the country’s small size. The South Korean Won (SKW) has essentially zero inflation relative to the USD long term aside from an exchange rate shock during the 2008 Great Recession. That being said, inflation is still a reality in South Korea since the USD has average inflation of 2.5 percent per year. Australia Has 53 Percent Inflation Relative to the USD in Seven Years Australia essentially has a continent to itself, but it is not isolated from the global fiat inflation crisis. The AUD actually strengthened massively versus the USD from 2001 to 2011. However, the trend reversed, and the exchange rate has gone from 0.93 AUD per USD in 2011 to 1.42 AUD per USD currently. This is 53 percent inflation relative to the USD in seven years. Israel Has Zero Inflation Relative To USD Long Term Israel is in the Middle East but does not have strong connections to the economy of the rest of the Middle East and, apparently, a different monetary policy than most of the rest of the world. Israel is only comparable to the United States, South Korea, and perhaps Switzerland when it comes to fiat currency since the Israeli New Shekel (ILS) has practically zero inflation relative to the USD long term although there are shorter term oscillations. Like the other countries listed with zero USD relative inflation, inflation still exists because the USD itself is inflating. In total, there are 180 fiat currencies in the world, and here, we’re covering just 16 of them. We could keep going, but the trend is already clear. Even in major countries with powerful economies, inflation has become a serious issue, with some major countries experiencing 50-200 percent inflation relative to the USD over the past decade, and those numbers don’t even take in the 2.5 percent per year USD inflation underlying them. It is possible that worldwide fiat inflation will accelerate due to the growing global debt crisis. That’s especially true if an economic recession occurs since that would force a rapid increase in money printing. So we’re in a global situation that needs to be actively monitored. Even if the status quo is maintained long term, most of the world’s population cannot realistically save money for the future because it’s going to lose value over time. This is a major shift from our parents’ generation when saving money was the smart thing to do. The good news is Bitcoin is waiting on the sidelines. It’s ready to become the global currency if fiat currency collapses worldwide. Even if fiat does not totally collapse, perhaps once Bitcoin matures and becomes more stable, it will be a good option for saving money long term since its value is independent of fiat inflation.
We are amidst of the most exciting of times never seen before, at least in couple of generations. UBER, Amazon, Swiggy , Whatsapp and all other game changing technologies disrupting the respective industries for good. UBER is more valuable company than 100 years old automobile companies! So after all the important industries disrupted it was time for the King of industries to be disrupted. CASH IS KING. To Understand money more better, we need to know the ROOT of new age money. There was a time before 400 Years when people used gold as medium to exchange goods or services. People use to pawn their gold to a particular gold smith in German and use to get GDR(Gold Deposit Receipt) simply a receipt to redeem gold when needed, but as dealing with gold as medium was not much practically comfortable, people started to use the receipt(GDR) to buy and sell goods and services, as every one recognised and believed the receipt was backed by gold with known gold smith. Once it was popular and became a practice among people to use receipt as medium to exchange value, few smart lads started to create same kind of receipt, now this became a problem to people and gold smith, that’s when historic change happened not only did the goldsmith found a way to create receipts which were not easy to forge also he saw opportunity to create more receipts than the gold he held, that’s when RESERVE BANKING started and from there he perfected the art of balancing the number of receipts which did not create inflation at the same time enough receipts were available in market. The receipts are called as currency in modern days RESERVE BANKING Once they perfected the art of reserve banking, they with new found wealth and knowledge kept introducing Reserver Central Banks all over Europe and World with the help of England. England which colonized many countries was funded by the same bankers who made fortune with and Gold, Diamonds looted from world and introduction of LSE(London Stock Exchange). In early 1900 as England was loosing control and USA being the next World power, these banker had to capture US financial system, with hook and crook(for inquisitive minds a few bread crumbs, sinking of titanic, brenton woods) they introduced Federal Reserve Bank in USA World Wars When the whole world was fighting, USA did not participate in those wars instead they choose to sell arms to all nations and strategically they accepted payments only in GOLD, so by end of two wars almost entire planets gold was with USA( Fort Knox). After world war was over nations did not have gold to trade between nations but as every one knew US dollar was backed by gold so every nation started using dollar as international currency as part Brenton-Wood( 1944) agreement and that made USD very valuable. Slowly USA started to export inflation to other countries and one fine day they could print more USD as there was not enough GOLD to back their USD, so president Nixon did
“ unilateral cancellation of the direct international convertibility of the United States dollar to gold.” — 1971
which means no nation could convert USD to gold which was the underlying faith for nations to accept USD as international reserve currency. France started to question this move and followed by other nations. That’s when USA had to think of creative solution for this crisis. OIL — The Black Gold and SWIFT With help of Saudi Arabia(OPEC) USA had forged a deal where only Crude Oil would be sold in USD, the technology or payment rail was SWIFT. SWIFT used USD as underlying currency to transfer value between nations. So if some bank wanted to send money India to Japan they had to use SWIFT payment network which in turn converted INR-USD and from USD-JPY
SWIFT was founded in Brussels in>! 1973!<
Many countries tried to break the the reserve currency status of USD, but everytime it was not very successful and the countries which tried that had to face server retribution from USA, as USA had built a very powerful military-industrial complex through out the world. Asian currency crisis Thailand triggered the Asian financial crisis by delinking the baht from the US dollar. The Bank of Thailand cut the baht loose on 2 July 1997 after the currency , had been under sustained attack by speculators(Hedge Funds from USA and London). This crisis spread to Asia. War on terror When Iraq wanted to sell their oil in Euro by ditching USD, not only Saddam Hussain dreamt of it, he also went and commissioned a Oil Trade Exchange with high speed internet and he also had done pilot testing, that’s when September 11 attack happened and America had to go for War on terror and they believed Saddam had Weapon of Mass Destruction(WMD) and they destroyed him and his ambitions to trade in Euro Leaders from Venezuela, Libya(Gaddafi) and Iran tried the same but ended up dead or wounded very badly Petro Yuan China has been watching this and they knew it was not easy to bring down USD as they ere the major holder of USD as foreign reserve and they would suffer very much, at the same time USA debt was increasing massively which means, logically USA could not pay interest for at least a century, so China started a long strategic move where they slowly replaced USD with Yuan like asking euro zone to accept Yuan, giving neighboring countries loans in Yuan and One Belt One Road(OBOR) initiative, finally declared PetroYuan which means Oil could be purchased in Yuan which was supported by Russia, Iran and Saudi. USA could show their aggression as they did with other countries but as China is super power with Russia’s support so they could not use the old strategy. But USA always had innovative way to handle dollar crisis The innovative solution — Cryptocurrencies (Blockchain Technologies) or Bitcoin In 2008, Bitcoin was invented and in over a decade it died many deaths but always came out strong. Cryptocurrency are not backed by anything but, only we all collectively believe and accept there is value in it. It’s non-mutable decentralized ledger where all the transactions are recorded and approved by major of the network participant. It’s not centralized like Bank where database can be hacked or brought down. After a decade the technology is now accepted widely and found some serious application in real world.
Bitcoin could not scale or live up to expectation to be today's currency as it is pathetically slow, high cost of transaction and nearing 51% problem as most of the miners are from China
XRP new world Currency? Interestingly there’s a cryptocurrency which is decentralised but controlled by private entity and trying to solve real problem i.e sending money between countries seamless , real time, transparent and dirt cheap. It’s replacing SWIFT (The old payment rail for petrodollar). SWIFT was designed 40 years back, with SWIFT system trillions of dollars are stuck with banks doing nothing which will be released once Ripple replaces SWIFT. Already people in Japan and South Korea, Singapore, USA, Australia and UK have started to use XRP as payment method in day today transaction. XRP has the potential to be currency of every denizen of planet earth. Already central banks and monetary authorities tripping over each other to integrate ripple. Ripple has wholistic solution to be a global liquidity provider and has been making right moves with IMF, World Bank, Central Banks, Authorities and regulators through the world and slowly and steadily it's progress is on course. XRP is set to become the new world order international currency. At last, money is changing and will change so fast that you will even not realize that every thing change as it happened with photography.
Future is not seen with eyes but an inquisitive mind.
The Government may infuse around Rs 40,000 crore into PSBs in 2019-20 as it looks to strengthen their balance sheets to enable them to step up lending. An announcement to this effect is expected in the Budget on July 5. A senior government official told that a plan is being firmed up to help banks expand credit offtake further. -Economic Times As the Government gets down to prepare its first Budget, North Block, which houses the Finance Ministry here, will be in ‘quarantine’ from Monday until the presentation of the Budget on July 5. The Ministry will be out of bounds for visitors and media as it gets down to prepare the Budget for 2019-20 fiscal year. -Business Line The RBI modified the guidelines on large exposures for banks with a view to reduce concentration of risk and align them with the global norms. The modified 'Large Exposures Framework' (LEF) provides exclusion of entities connected with the sovereign from definition of group of connected counter-parties. As per the revised norms, the sum of all the exposure values of a bank to a single counter-party must not be higher than 20% of the bank's available eligible capital base at all times. In exceptional cases, board of banks may allow an additional 5% exposure of the bank's available eligible capital base. In case of groups of connected counter-parties, the sum of all the exposure values of a bank to a group of connected counter-parties must not be higher than 25% of the bank's available eligible capital base at all times, the revised LEF said. -Moneycontrol.com The Supreme Court today allowed Serious Fraud Investigation Officer to reopen and recast the accounts of IL&FS, IFIN abd IL&FS Transportation Networks Limited (ITNL) of the past 5 years. The order by the top court came on a plea moved by the Ministry of Corporate Affairs, which had sought to examine the books of the Co between FY 2012-13 and 2017-18. -Business Standard ICICI Bank today launched a center in Bengaluru to provide business solutions exclusively to start-ups and MSME sector, all under one roof. -Business Line The SBI has targeted to grow 10-12 per cent in the current financial year, on the back of green shoots of revival in credit demand and better recoveries of loans. -Economic Times Axis Bank promoted Axis Trustee Services LTD has become the first trustee to start operations at Gujarat International Financial Tec-City (GIFT) City's International Financial Services Centre (IFSC). -Business Standard Fitch Ratings has downgraded the ratings of ICICI Bank and Axis Bank due to ‘challenges’ faced by them and lowering of India’s operating environment. It has downgraded ICICI Bank’s Long-Term Issuer Default Rating (IDR) to ‘BB+’ from ‘BBB-’ and its Viability Rating to ‘bb+’ from ‘bbb-’. The outlook on the IDR is Stable. Fitch has also affirmed ICICI Bank’s Support Rating at 3 and Support Rating Floor at ‘BB+’, it said in a statement late. -Business Line Having initiated a crackdown on a suspected coterie of fraudsters in the IL&FS case, the government's financial fraud probe agency SFIO has recommended necessary action against the guilty auditors and also a detailed internal investigation by the RBI to identify reasons for the delay in detecting the lapses. -Economic Times The RBI has banned audit firm Batliboi & Co. LLP to conduct audit of commercial bank for one year starting April 1, 2019, due to lapses. -The Hindu Bitcoin fell back below the $8,000 level for the first time in more than a week to halt its most recent rally, leading a wider retreat among cryptocurrencies. -Business Line The Delhi High Court has imposed Rs 10 lakh cost on online insurance aggregator, Policybazaar, for concealing facts to obtain an ex-parte injunction in a trademark infringement case filed by it against an insurance Co. -Economic Times USD/INR 69.26 SENSEX 40083.54 (-184.08) NIFTY50 12021.65 (-66.90)
As per usual the 3 months has been all hand-on-deck, helping to bring further adoption utilities to Groestlcoin. The markets have been red but as always that doesn't stop the show from going on with regards to the development since the last release update on 24th September. Here's a recap of what has happened so far:
Groestlcoin was added to Changelly. One of the leading Crypto-to-Crypto exchanges that offer some of the best rates on the market – You can also buy with a debit/credit card too and you can buy/sell Groestlcoin directly from your Coinomi wallet, from the website https://groestlcoin.org#exchanges, and you can enable Changelly swaps on your GRSPay stores!
Groestlcoin was added to the JAXX Liberty wallet! One of the leading multi-crypto wallets in the stores. Safely store your GRS on Android, iOS, Mac OS X, Windows, Linux or Google Chrome. With Jaxx Liberty you are always in control of your private keys, and you can use your wallet on multiple devices. Note: This directly replaces the deprecated JS Wallet which was of a similar (but older) codebase.
Groestlcoin was integrated into AtomicPay – A decentralised cryptocurrency payment processor that eliminates the involvement of a third-party gateway, allowing merchants to accept payments directly from their customers, with over 2500 merchants already signed up, a public release is set for Mid-January 2019.
Huobi officially opened trading for Groestlcoin to Korean customers! And in addition, a giveaway of up to 10,000 GRS was held!
Unocoin ATMs started supporting Groestlcoin at their ATMs, granting the Indian community the ability to withdraw (For INR) and deposit Groestlcoin into their UnoDax account. Groestlcoin $GRS is available on #Unodax exchange with the following pairs: $INR, $TUSD, $BTC.
Groestlcoin was listed on SWFT BLOCKCHAIN, giving you more opportunities to swap your other altcoins with Groestlcoin or vice versa, quickly and securely.
Groestlcoin was added to One Page Exchange! Where you can buy and sell Groestlcoin quickly and easily without any form of registration!
CryptoWolf started accepting VISA, Mastercard and Maesto to buy cryptocurrencies from the CryptoWolf exchange in EUR or USD! Providing a new FIAT gateway to buy Groestlcoin.
Groestlcoin has been added to CoinZark (Formally VertPig) for fast and efficient Crypto-to-Crypto swaps at very competitive rates using exchange aggregates.
Groestlcoin was added to PungoWallet! Pungo wallet is built to showcase the features that anyone can achieve with blockchain technology. They have built a set of modular solutions that allow any company to build a blockchain layer to interact with traditional software.
Groestlcoin was added to StealthEX, offering anonymous cryptocurrency swaps with tens of other coins without disclosing any personal information. Just choose the pairs, enter your address, send your coins and receive your funds!
Groestlcoin joined InvestFeed, granting a company listing and blue verified badge.
Groestlcoin was officially added to Blockfolio Signals – For those of you that use Blockfolio, you can keep updated with all the latest news straight from the app, via the Signals icon.
Groestlcoin has been added to DeltaDirect – Those using Delta can now stay up-to-date with the latest Groestlcoin news, straight from your Delta portfolio tracker app.
Groestlcoin has been added to CoinGecko Beam – Where you can easily follow us and receive updates without searching through social media.
Groestlcoin is now live on BitUniverse Link! All of the latest Groestlcoin updates and news will be directly available on BItUniverse.
Groestlcoin was added to NovaExchange! Launched in 2016 and operating from Sweden, users can trade over 300 different digital assets.
As of the latest version of the Trezor Model T firmware, Groestlcoin is now officially supported! The Trezor Model T is the next-generation cryptocurrency hardware wallet, designed to be your universal vault for all of your digital assets. Store and encrypt your coins, passwords and other digital keys with confidence. The Trezor Model T now supports over 500 cryptocurrencies.
Blockbook MainNet & TestNet Block Explorer
Blockbook is an open-source Groestlcoin blockchain explorer with complete REST and websocket APIs that can be used for writing web wallets and other apps that need more advanced blockchain queries than provided by groestlcoind RPC. Blockbook REST API provides you with a convenient, powerful and simple way to read data from the groestlcoin network and with it, build your own services.
Support to broadcast transactions online. Broadcast a raw transaction in hex format over the Groestlcoin network.
Supports every web browser
API – Complete REST and Websocket API for querying blocks, transactions and addresses; and receiving live updates
Light – Thin data model using groestlcoind RPC interface to validate blockchain information. Fast groestlcoind blockchain synchronisation (~1hrs for the entire mainnet), using RocksDB for data storage and optionally raw groestlcoind data files processing.
Exhaustive – Reports on double spend attempts, outpoint confirmations, outputs spend status reports. Input and Output hyperlinks in transactions. Extended view in transactions to show advanced details.
Open Source, written in the Go programming language.
Groestlcoin has been added to the Edge wallet for Android and iOS. Edge wallet is secure, private and intuitive. By including support for ShapeShift, Simplex and Changelly, Edge allows you to seamlessly shift between digital currencies, anywhere with an internet connection.
Multi-Asset Support. Supporting Bitcoin, Ethereum, Groestlcoin and many others, you can safely hold your coins.
Exchange Support – Supporting Shapeshift, Simplex and Changelly enables the user to seamlessly shift between digital currencies as if you were storing your funds on an exchange.
In-app buying and selling, exchange your FIAT for cryptocurrency directly within the app.
Encrypted with a username and password. Seamless login into multiple devices.
Easy, secure access with PIN or fingerprint. Additionally, supporting 2FA authentication.
Client-side encryption – All of your data is encrypted on your device before any of your information touches the Edge servers. Being free from server-side hacks and malware means that your assets are as secure as they can be.
We are excited to announce that Groestlcoin has been added to CoinID! With integrated cold and hot wallet support, and a host of other unique wallet features, CoinID can easily become your go-to wallet for storing Groestlcoin. More details can be found here: https://coinid.org/s/groestlcoin-wallet-overview.pdf
Integrated Cold wallet. Store your funds offline and sleep tight at night. All you need is a separate Android or iOS device.
Transaction Batching – A feature normally reserved for exchanges, CoinID supports transaction batching, allowing the user to group transactions into one, saving space on the blockchain and lowering your transaction fees considerably as a result.
Complete control – Your private keys never leaves your device. "If you don’t control your private keys, you don’t own your coins".
SegWit support – Support for Segregated Witness, which means smaller transaction sizes, lower fees, and supporting all 3 address types (grs1, 3, F).
Hierarchical Deterministic – Use a single set of keys for multiple coins and addresses. When an address is used, a new one is generated.
Cross-Platform – Built with React Native for rapid development cycles and cross-platform support.
The Groestlcoin BIP39 tool is an open-source web tool for converting BIP39 mnemonic codes to addresses and private keys. This enables the greatest security against third-party wallets potentially disappearing – You’ll still have access to your funds thanks to this tool. What’s New
Added Coinomi, Ledger Client, Groestlcoinomi, Trezor, Safe T, Core, Groestlpay and Samourai to BIP32 Tab
Added BIP49 support
Add BIP38 support
Add CSV tab for derived addresses
BIP84 tab for derivation path
Display version number in top right corner
Groestlcoin ticker is now also displayed
Refactor method to clear old data from the display
BIP44 ‘purpose’ and ‘coin’ fields have been made read only
Tab Order is now alphabetical
Improve showing feedback for pending calculations
Show error when using XPUB with hardened addresses
Rename variables for clarity between BIP49 and P2WPKH Nested in P2SH
QR Codes use correctLevel 3 instead of 2
Update compile script to work across python 2 and 3
Add BIP49 to More Info section
Reword entropy text to indicate using a single source only
Detect and warn when entropy is filtered / discarded
Use new xpub/xprv prefixes for Segwit BIP49
Allow more rows to be generated starting from a custom index
BIP141 tab added for full Segwit compatibility
Show list of word indexes. Checksum shows in entropy details
Populate entropy field with hex value used from PRNG
QR codes with accents now work correctly by replacing jquery.qrcode with kjua
Allow initial number of rows to be set by the user
Raw entropy shows groupings with space every 11 bits for easier usage
Warn that entropy values should exclude checksum
Warn when generating low entropy mnemonics
Warn when overriding weak entropy with a strong mnemonic length
Allow XPUB to be used as root key for Segwit derivations
Add visual privacy safeguard. List alternative tools
Update bootstrap from 3.2.0 to 3.3.7 and jQuery from 2.1.1 to 3.2.1
GroestlcoinJS library upgraded to v3.3.2
General code refactoring, numerous performance improvements and bug fixes
Electrum-GRS is a lightweight "thin client" Groestlcoin wallet Windows, MacOS and Linux based on a client-server protocol. Its main advantages over the original Groestlcoin client include support for multi-signature wallets and not requiring the download of the entire block chain. What’s New
HARDWARE WALLET SUPPORT: Archos Safe-T Mini is now fully supported
Electrum + Android Version 3.2.3:
If a BIP39 seed extension/passphrase contained multiple consecutive whitespaces or leading/trailing whitespaces, then the derived addresses were not following spec. This has been fixed, and anyone affected should move their codes. The wizard will show a warning in this case.
The PRNG used has been changed
Fix Linux distributable, ‘typing’ was not bundled and was required for Python 3.4
Fix spending from Segwit multi-sig wallets involving a Trezor co-signer when using a custom derivation path.
Several other minor bugfixes and usability improvements.
ivendPay and Groestlcoin cryptocurrency have announced the start of integration. IT company ivendPay, the developer of a universal multicurrency payment module for automatic and retail trade, intends to integrate Groestlcoin cryptocurrency — one of the oldest and the most reputable Bitcoin forks into the payment system. Groestlcoin is characterized by instant transactions with almost zero commission and is optimal for mass retail trade where micropayments are mostly used. According to Sergey Danilov, founder and CEO of ivendPay, Groestlcoin will become the 11th cryptocurrency integrated into the payment module. The first working vending machines for the sale of coffee, snacks and souvenirs, equipped with ivendPay modules, served the visitors of the CryptoEvent RIW exhibition at VDNKh in Moscow and accepted Bitcoin, Go Byte, Dash, Bitcoin Cash, Ethereum, Ethereum Classic, Zcash, Bitcoin Gold, Dogecoin and Emercoin. ivendPay terminals are designed and patented to accept payments in electronic money, cryptocurrencies and cash when connecting the corresponding cash terminal. Payment for the purchase takes a few seconds, the choice of the payment currency occurs at the time of placing the order on the screen, the payment is made by QR-code through the cryptocurrency wallet on the smartphone. The interest in equipping vending machines with ivendPay terminals has already been shown by the companies of Malaysia and Israel, where first test networks would be installed. ivendPay compiles a waiting list for vending networks interested in buying terminals and searches for an investor to launch industrial production. According to Sergey Danilov, the universal payment terminal ivendPay for the vending machine will cost about $500. The founder of ivendPay has welcomed the appearance of Groestlcoin among integrated cryptocurrencies, as it is another step towards the realization of the basic idea of digital money - free and cross-border access to goods and services for everybody.
Blockchain Technology is the latest buzzword in many business sectors today, and agriculture is no exception. A transparent and secure digital ledger system that allows two parties to conduct a transaction without the need for a trusted intermediary, blockchain captured headlines as the digital backbone of the cryptocurrency Bitcoin. In just a few months it has gained further attention as businesses explore ways to leverage blockchain technology to save money, improve transparency and reduce human error. As technology pundits speculate on how blockchain will be a game-changer, business leaders are looking for ways to tap into the technology. 5 Potential Uses of Blockchain in Agriculture Needless to say, one of the most logical applications of blockchain technology is in agriculture which is plagued with a few challenges. With increasing consumer consciousness towards food safety, blockchain application can play a significant role in taking care of numerous agriculture-related issues. Food Safety Consumers today have grown quite suspicious about the food they are consuming. Food fraud costs an estimated $30-40 billion per anum globally. Moreover, food allergies are much more common now as compared to 25 years ago. This has resulted in the increasing demand for information related to the food people are consuming. Since this trend continues to rise, big food chains won’t have any choice but to use blockchain technology to ensure accountability, traceability as well as the quality of the food. Blockchain will act as a competitive edge for the brands competing in the competitive FMCG space. Food Supply Chain In most of the developing countries, food supply chains are inefficient owing to the information asymmetry. This results in low farmer income since farmers don’t get their due share, even though they are the most significant part of the chain. With blockchain technology, the food supply chain gets simplified as the data management across a complex network including, consumers, regulators, retailers, processors, distributors, brokers, and farmers get simplified as well as transparent. Enhanced data sharing too can be helpful in reducing the $1 trillion problems of food waste. Farmers and all the members of the supply chain can have access to all the information throughout the chain. It will make the whole supply chain democratic as well as more efficient resulting in lesser food wastage and higher remuneration being paid to the stakeholder including the greater amount of the total value. Agri Inputs Farmers are usually unaware of the inputs whether they are authentic or not. Local level retailers are selling duplicate products to the farmers with an aim to enhance their profit margins. Sometimes, even the retailers are not aware whether the products are authentic or not. Big agriculture-input players lose thousands of millions of dollars due to pilferage which impacts their brand image too. Here comes the blockchain technology! The application of blockchain will solve this problem with increasing traceability of every product sold, from the manufacturer to the end customer. Farmers and retailers can scan the blockchain barcode on the products through their smartphone and know about the authenticity as well as a source of the products they are purchasing. Land Registration Land registration for sale and purchase is such a cumbersome process. Even, it is believed that it’s the most susceptible to fraud. Blockchain technology can turn land recordings to more efficient and accessible as the data recorded is open, and bring complete transparency in the system. This will be a huge cost saving for the government as recordkeeping is a labor-intensive process, which is costly. This partnership shows the progression of the Andhra Pradesh government vision for the state. Some states will follow suit once the pilot proves to be successful in AP. Smart Contracting between the farmers and corporate farming firms can result in easier contracting for the leasing of land. Ethereum is an open source blockchain project explicitly built to realize the possibility of smart contracting. Disbursement of Subsidies Around the world, the farm sector is completely dependent on government subsidies. For instance, $4.9 Bn (INR 32,000 Cr) were allocated for agriculture-related subsidies to the farmers in India, according to the 2017-18 budget. How much of this sum reaches to the farmers is still unsorted. With the blockchain, the distribution, as well as the delivery of subsidies, can become much transparent resulting in the targeted disbursement of the subsidies plugging duplication in the existing system. Even though, the process is for establishing this network will be complicated since multiple stakeholders would be required to come together.
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