steemit is a social network founded in march 2016. ned scott and dan larimer are the inventor of bitshare.the two are the founder of steemit inc company which run funds ongoing development.steemit runs on top a decentralized network called steem.it is like other bitcoins.steem is a blockchain of steemit beta.
Accounts are created with a small amount of deposited STEEM in the form of STEAM Powers.Content creators have the option to choose post rewards of 100% STEEM Power instead of the default 50% liquid currency (a combination of STEEM and Steem Dollars) and 50% STEEM Power.
Users and investors also have the option of converting liquid STEEM into STEEM Power, called powering up.
but the account owner can choose to withdraw liquid STEEM in weekly payments at a rate of up to 1/13th of the account's total STEEM Power.
This is called powering down. STEEM Power cannot be transferred or traded directly, The account will lose its voting influence in proportion to the STEEM withdrawn.
It most likely will but the problem here lies in technology behind it.
Cryptocurrencies are based on Blockchain technology.
Blockchain technology implicate decentralization.
decentralization implies government removal as unnecessary rudiment.
when this happens there might be no need in “money” at all as there will be formed a new society with new mindset and the highest automation level and technologies allowing get all we need for free.
This is if we consider society becomes holacratic.Although if we are talking about the society where the regulation is given to some organ like Corporation then there is no Blockchain involved here.
(NVIDIA) Chipmaker Nvidia Corp
SALES ON MARKET=158.23
SALES % =+0.78%
NVIDIA which has had a good run in the stock market this year, just added another Wall Street bull to its corner thanks to the rise of cryptocurrency and the need for high-end graphic cards to mine the digital currency.
Pacific Crest Securities, which downgraded Nvidia’s shares a couple of months ago, reversed itself Tuesday, raising its rating to sector weight from underweight all because of cryptocurrency such as Bitcoin. "Meetings with desktop graphics card manufacturers indicated a sharp reversal in sales trends expected for the seasonally weaker 2Q, with surging demand from cryptocurrency miners in China and Eastern Europe," analyst Michael McConnell wrote in a research note to clients Tuesday that was covered by CNBC. "The sharp increase in demand from cryptocurrency miners has rapidly depleted excess channel inventory carried into the quarter."
The analysis also pulled his $99 price target on shares which closed at $157.09. NVDA stock is up more than 55% since the start of the year and, as CNBC pointed out, is about 45% higher since Pacific Crest Securities downgraded it in early April.
AMD (Advanced Micro Devices Inc)
SALES ON MARKET=14.32
SALES % =+2.47%
seeing the most demand. The computer-created coins can either be held or sold for a profit.
Earlier this month, RBC Capital analyst Mitch Stevens was prompted to reiterate his outperform rating on shares of the chipmaker after running a "thought test" to see how its graphic processor compared with AMD's. Using the GTX 1070, a graphic processor Nvidia introduced last year, and putting it up against AMD’s Radeon 580 semiconductor, the analyst set out to see how the chips would perform while mining for Bitcoin and Ethereum, two popular cryptocurrencies. Based on his experiment, Steve's found there isn’t much difference between the two while mining for Ethereum, but while building a data center environment for Bitcoin, where the cost of electricity becomes more important, the older Nvidia chip performed better than the AMD processor over the course of a year.
Pacific Crest isn’t the only Wall Street firm bullish on Nvidia’s prospects. People mining for the coins use high-end graphic cards, with Nvidia and Advanced Micro Devices Inc. AMD (Advanced Micro Devices Inc)
The blockchain technology has entered a stage of development hinting that in the next two-tree years we can expect to witness the testing of commercial-scale products based on it. Therefore the widespread adoption of the blockchain is expected to depend on the regulatory and legal framework, on the interest and initiatives of governmental and, financial services organizations as well as startups willing to develop blockchain-based business solutions.
The regulatory and legal cryptocurrency landscape is constantly changing since the industry is new and influenced by unstable regulatory environment. So far the US, the EU and most recently China, Japan and Russia show definite steps toward implementing a legal framework that is expected to influence the cryptocurrency usage and exchange. So far governmental organization’s and central banks’ main focus is clearly on designing rules that require compliance systems able to guarantee the transparency and safety of transactions. This is evident from the most recent legal and regulatory changes on key cryptocurrency markets.
In a recent blockchain survey titled “Building Trust in Government - Exploring the Potential of Blockchains” IBM gives an overview of government organizations aiming to adopt the blockchain, because of the positive impact they may have in the management of their jurisdictions.
For the purpose of the research IBM Institute for Business Value with the support of the Economist Intelligence Unit, surveyed 200 government leaders from 16 countries who shared their expectations of how blockchain may influence their jurisdictions in the areas of identity management, asset management, regulatory compliance, voting systems, citizen services, contract management, financial transactions and borderless services.
Thank you...
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