Not to be confused with the Midas touch, the gold standard is a basis for gauging the value of currency, and it played a critical role in the establishment of the U.S. dollar. The nation steadily veered further and further from a true gold standard, and today the U.S. dollar is truly fiat in nature — not backed by any intrinsically valuable commodity. …Read more
This article aims to outline the situation of the Monero “RandomX” position while giving a perspective from our mining operation, how this affects us (including you) as miners, plus a plan of action that will follow. On November 30th 2019, the Monero Blockchain will fork again, and effectively switch the network’s underlying mining algorithm from Cryptonight-R to RandomX. The main goal of their update is, among other changes, to decimate all ASIC mining activity on the network in the name of decentralization. Mining will then only be possible via CPUs and certain GPUs.
ASICs, or “Application Specific Integrated Circuit” are computers that are created to serve a specific use case and task. For Cryptocurrencies, ASIC devices are designed to participate in the process of mining Bitcoin (or other cryptocurrencies). Bitcoin, being the largest cryptocurrency by hashrate (Almost 100 ExaHashes) and having true decentralized consensus (through worldwide mining operations), is an example of a cryptocurrency that cannot be considered ASIC-resistant.
When it comes to the federal reserve, there’s levels to understand. You’ve got the federal reserve, located in Washington, D.C, home to the chairman of the Fed and the members of the Board of Governors. But then you’ve also got several regional branches of the federal reserve — twelve, to be exact — that play their own roles within the national banking infrastructure. …Read more
When was the last time you heard mention of any central bank? During the lesson on Alexander Hamilton in your eighth grade American History class? You’re probably not alone. …Read more