CRYPTO CURRENCY COMING TO PATTAYA
In the middle of April a group of 15 people met at Casa Pascal gourmet restaurant to enjoy the now famous brunch buffet, but also to talk about their common interest in Crypto Currencies. Some of these people have made substantial profits speculating in this new exciting phenomenon of the international financial world. After a brainstorm the group decided to formalize its activities to meet every week and keep the group open to anyone who would like to join, and this way gain more knowledge about anything and everything about all the Crypto Currencies in the world.
A big seminar with expert speakers is planned to be held in Pattaya at one of the leading hotels during the month of June this year.
If anyone is interested to join the group please contact this email address: ralfwklein@gmail.com
What is Crypto Currency?
A crypto currency is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets. Cryptocurrencies are a type of digital currencies, alternative currencies and virtual currencies. Cryptocurrencies use decentralized control as opposed to centralized electronic money and central banking systems. The decentralized control of each cryptocurrency works through a blockchain, which is a public transaction database, functioning as a distributed ledger. Bitcoin, created in 2009, was the first decentralized cryptocurrency. Since then, numerous other cryptocurrencies have been created. These are frequently called altcoins, as a blend of alternative coin.
Overview
Decentralized crypto currency is produced by the entire crypto currency system collectively, at a rate which is defined when the system is created and which is publicly known. In centralized banking and economic systems such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units of fiat money or demanding additions to digital banking ledgers. In case of decentralized crypto currency, companies or governments cannot produce new units, and have not so far provided backing for other firms, banks or corporate entities which hold asset value measured in it. The number of crypto currencies available over the internet as of 10. April 2018 is over 1565 and growing, most are similar to and derive from the first fully implemented decentralized crypto currency, Bitcoin. Within crypto currency systems the safety, integrity and balance of ledgers is maintained by a community of mutually distrustful parties referred to as miners: members of the general public using their computers to help validate and timestamp transactions, adding them to the ledger in accordance with a particular time stamping scheme. Miners have a financial incentive to maintain the security of a crypto currency ledger. Most crypto currencies are designed to gradually decrease production of currency, placing an ultimate cap on the total amount of currency that will ever be in circulation, mimicking precious metals. Compared with ordinary currencies held by financial institutions or kept as cash on hand, crypto currencies can be more difficult for seizure by law enforcement. This difficulty is derived from leveraging cryptographic technologies.