WHY FIAT CURRENCIES ALWAYS FAIL Common elements of fiat currencies- -Issued and decreed as legal tender by a central governing body -Not backed by, or in any way tied to a physical commodity, such as gold, silver, oil, etc. -Value is extrinsic -Only has value because the governing body, and the populace use it as exchange, and assign an arbitrary value to the currency -Generally, no limit is established on how much currency can be created Other fun facts: -The U.S. Dollar has lost 97% of its value since the Federal Reserve was created in 1913; much of this devaluation took place after the U.S. was officially and completely taken off the gold standard in 1971 -Currently, there are no major currencies around the world that are not fiat currencies, with the exception of cryptocurrencies -Cryptocurrencies, such as Bitcoin, do not fit the description of a fiat currency. They are not issued by a central government. They also often (but not always) have limits on the rate of money creati...
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WHY BLOCKCHAIN WILL CHANGE THE WORLD As early as 1981, inventors were attempting to solve the Internet’s problems of privacy, security, and inclusion with cryptography. No matter how they reengineered the process, there were always leaks because third parties were involved. Paying with credit cards over the Internet was insecure because users had to divulge too much personal data, and the transaction fees were too high for small payments. In 1998, Nick Szabo wrote a short paper entitled “The God Protocol.” Szabo mused about the creation of a be-all end-all technology protocol, one that designated God the trusted third party in the middle of all transactions. His point was powerful: Doing business on the Internet requires a leap of faith. A decade later in 2008, the global financial industry crashed. Perhaps propitiously, the pseudonymous Satoshi Nakamoto outlined a new protocol for a peer-to-peer electronic cash system using a cryptocurrency, or digital cur...
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AWS MINING in Brief AWS MINING is a cryptocurrency mining company that offers cloud mining services to individuals (you and I) across the world. AWS MINING is recognized globally with mining farms in 4 countries (China, Paraguay, Mongolia and Russia). AWS Mining is fully registered with Australian Government. Currently, AWS MINING is the 5th largest cloud mining company in the world and No.1 in terms of payouts to your local bank account. In other words, AWS MINING has the fastest payment processor amongst all the cloud mining companies in the world. The cloud mining services offered by AWS MINING comes in form of investmen t and affiliate program. The company has a wide range of investment plans you can subscribe to. All the investment plans are in increment of $40 (N16,000). Example: $40, $80, $120, $160, $200, $240, $280, …, $1000, $1040, $1080, $1120, … , $1000, … The higher your investment, the higher your returns on investment The minimum investment i...