Ray Neuberger on Blogger
Ray Neuberger - Experienced Energy Broker in Connecticut
Wednesday, February 9, 2022
Renewable Diesel Fuel Growth Projected
Friday, January 28, 2022
History and Development of Cryptocurrency

Cryptocurrency is a virtual currency that serves as a digital means of exchange. It is a collection of binary data owned by private individuals or groups. Since national governments do not regulate them, they are regarded as alternative currencies, existing outside the states’ monetary policy bounds. Generally, they are not fiat currencies, not backed by or convertible into goods or commodities.
The origin of cryptocurrencies began in 1980 when people knew them as cyber currencies. In 1989, cryptocurrency was mentioned for the first time, and in 1980, David Chaum invented digital cash, which used cryptography to verify and secure transactions. In 1995, he implemented Diggy cash, making it the earliest worthy digital currency. After that, other attempts at cryptocurrencies emerged including, Bit Gold, Hashcash, Flooz, and B-money.
Software engineer, Wei Dai, first described modern cryptocurrencies in 1998. He released a white paper publication on b-money, a digital currency architecture featuring many modern cryptocurrency components like the distributed electronic cash system. However, the concept did not entirely emerge until 2009 with the release of Bitcoin. In 2008, Satoshi Nakamoto, presumably a pseudonymous person or group, published the white paper explaining the foundations of blockchain and Bitcoin and released Bitcoin in 2009. On the release of the currency, enthusiasts and supporters began mining and exchanging with it. The first transaction took place on the 12th of January, 2009, between Nakamoto and Hal Finney.
In the early parts of 2010, Bitcoin was still the only cryptocurrency in the market; however, later that year, Litecoin emerged. Over the next few years, more digital currencies came into the market. In 2012, WordPress accepted payment in Bitcoin, making it the first major merchant to do so.
Over the next couple of years, digital currencies continued to rise and fall along with Bitcoin. This period of volatility caused many people to lose faith in crypto as a form of investment. However, in 2017, cryptocurrency witnessed an unprecedented rise, and the value of several digital coins skyrocketed. By January 2018, the total market cap for all the currencies got to $820 billion, and although it crashed later that same month, the market continued to witness steady growth. This era also saw a rise in crypto scams; thieves stole millions of dollars from phishing attacks to Fake Initial Coin Offerings (ICOs).
Countless merchants worldwide view cryptocurrency as a legitimate means of payment, including Tesla, Microsoft, Coca-Cola, Starbucks, Amazon, and PayPal. Cryptocurrencies offer the advantages of political independence and impenetrable data security, which traditional fiat currencies do not necessarily offer. For example, governments cannot easily freeze or seize crypto accounts, whereas they can easily do so when a bank account is within their jurisdiction. However, unlike many fiat currencies, many countries are wary about cryptocurrencies because their value is unpredictable; and you can’t easily change them for cash without suffering a significant loss in value.
Nevertheless, cryptocurrency remains a practical work in progress. The market continues to boom, and people expect it to get even bigger, with more widespread adoption. Many people believe that crypto is here to stay and will play a massive role in the future of the money system.
from WordPress https://bit.ly/3s3wBb4
via IFTTT
Looking Back at Global Oil Prices
Wednesday, January 19, 2022
An Overview of Trading Binary Options
Renewable Diesel Fuel Growth Projected
According to the US Energy Information Administration (EIA), renewable diesel production is projected to increase through 2024 in anticipat...
-
Royal Dutch Shell PLC, or simply Shell, is a corporation known to be one of the biggest petroleum corporations publicly listed. Shell is ...
-
Cryptocurrency is an innovative development in the world of commerce and exchange. It is a digital currency you can exchange for goods and ...