Gold standard? End the Federal Reserve? I'm pretty sure this has been debated before and asked a lot in this forum but pardon me being new here. I am a history major and have been trying to read as much about economics as I can during my spare time. I'm about finished with Gregory Mankiw's Principles of Macroeconomics and plan to read his Principles of Microeconomics soon enough. I have also read Thomas Sowell's Basic Economics and am about halfway through reading Henry Hazlitt's Economics in One Lesson. I have also recently seen Milton Friedman's Free to Choose and also plan on reading his works, as well as Friedrich Hayek and Frederick Bastiat. One of the topics I really want to delve into is in regard to the merits of having a Federal Reserve and whether it is more beneficial to go back to a gold standard. I think that there is an economic consensus that the money supply has a great correlation with the level of inflation and the value of the dollar, as the more that is printed, the more worthless the dollar becomes, and the less printed it is, the more worth it becomes. Particularly also, fiat currency tends to be valued only in, so, far, as there is confidence in the financial systems. For this reason, there seems to be two issues and questions at hand. The first one is if it would be more beneficial to go back to a gold standard? I understand that there are various ways in which this could occur. This could include going back to the physical use of gold as money, pegging the dollar back to gold, or begging it to some other commodity such as Bitcoin. The purpose of any of these approaches is to control the money supply by something that is finite and hence limited in nature. This seems to solve the problem of controlling the quantity of the dollar. Some have criticized the gold standard due to the overly restricted circulation of currency that has historically led to deflationary, as opposed to inflationary periods, which could be just as devastating as inflationary periods. The second question and problem concern the Federal Reserve. To what extent is it beneficial to have a Fed? Should the Fed be reconstructed, and or more heavily regulated? Should we outright do away with the Fed? Or should the Fed be kept the way it is? On the one hand, it makes sense in theory to have an institution such as the Fed to help regulate banks, ensuring that things such as bank runs, and or banking disasters are preventing. It also seems sensible in theory to have an institution such as the Fed, which is independent of the government, to help in coordinating monetary policy. However, in practice, it also seems that the Fed has often been the cause of such disasters such as the Great Depression and the Great Recession by creating boom and bust cycles through arbitrarily changing interest rates, and through its various tactics at influencing monetary policy and controlling the money supply. A similar, yet different issue would be laws passed by the government encouraging risky lending such as forcing financial institutions, whether private or public to give out bad loans to risky people such as those who can't afford to take the loan. Would it not make more sense to simply let the "invisible hand" (the forces of supply and demand) to allocate the money supply and interest rates? If there is more demand for borrowing this will push interest rates up, as banks and other financial institutions would want to charge higher interests and they would ideally want to be careful as to who they are lending money to. If there is a greater demand for saving than lending, this would push interest rates down as banks would not want to give out as much money in interest and other financial institutions would want to encourage more borrowing. I would appreciate any resource recommendations whether they be books or other media platforms that you think do a good job at tackling any of these two issues.
I'm sorry if these two topics have already been heavily asked about in this forum. I am new to this forum and am trying to understand these issues better. Gold standard? End the Federal Reserve? I am a history major and have been trying to read as much about economics as I can during my spare time. I'm about finished with Gregory Mankiw's Principles of Macroeconomics and plan to read his Principles of Microeconomics soon enough. I have also read Thomas Sowell's Basic Economics and am about halfway through reading Henry Hazlitt's Economics in One Lesson. I have also recently seen Milton Friedman's Free to Choose and also plan on reading his works, as well as Friedrich Hayek and Frederick Bastiat. One of the topics I really want to delve into is in regard to the merits of having a Federal Reserve and whether it is more beneficial to go back to a gold standard. I think that there is an economic consensus that the money supply has a great correlation with the level of inflation and the value of the dollar, as the more that is printed, the more worthless the dollar becomes, and the less printed it is, the more worth it becomes. Particularly also, fiat currency tends to be valued only in, so, far, as there is confidence in the financial systems. For this reason, there seems to be two issues and questions at hand. The first one is if it would be more beneficial to go back to a gold standard? I understand that there are various ways in which this could occur. This could include going back to the physical use of gold as money, pegging the dollar back to gold, or begging it to some other commodity such as Bitcoin. The purpose of any of these approaches is to control the money supply by something that is finite and hence limited in nature. This seems to solve the problem of controlling the quantity of the dollar. Some have criticized the gold standard due to the overly restricted circulation of currency that has historically led to deflationary, as opposed to inflationary periods, which could be just as devastating as inflationary periods. The second question and problem concern the Federal Reserve. To what extent is it beneficial to have a Fed? Should the Fed be reconstructed, and or more heavily regulated? Should we outright do away with the Fed? Or should the Fed be kept the way it is? On the one hand, it makes sense in theory to have an institution such as the Fed to help regulate banks, ensuring that things such as bank runs, and or banking disasters are preventing. It also seems sensible in theory to have an institution such as the Fed, which is independent of the government, to help in coordinating monetary policy. However, in practice, it also seems that the Fed has often been the cause of such disasters such as the Great Depression and the Great Recession by creating boom and bust cycles through arbitrarily changing interest rates, and through its various tactics at influencing monetary policy and controlling the money supply. A similar, yet different issue would be laws passed by the government encouraging risky lending such as forcing financial institutions, whether private or public to give out bad loans to risky people such as those who can't afford to take the loan. Would it not make more sense to simply let the "invisible hand" (the forces of supply and demand) to allocate the money supply and interest rates? If there is more demand for borrowing this will push interest rates up, as banks and other financial institutions would want to charge higher interests and they would ideally want to be careful as to who they are lending money to. If there is a greater demand for saving than lending, this would push interest rates down as banks would not want to give out as much money in interest and other financial institutions would want to encourage more borrowing. I would appreciate any resource recommendations whether they be books or other media platforms that you think do a good job at tackling any of these two issues.
Now in its fifth year of publication, Ledger—the first peer-reviewed journal dedicated entirely to the study of cryptocurrencies and shared ledgers—is open for submissions!
Ledger publishes full-length articles describing original research in all areas related to cryptocurrency and its intersection with mathematics, computer science, engineering, law and economics. Manuscripts are selected based on conceptual advancement, novelty, technical quality, and general interest to the journal’s audience. Submissions of articles related to all areas of cryptocurrency research are welcome, including (but not limited to) the following topics:
Development of new cryptocurrency computer algorithms/protocols
Analysis of existing cryptocurrency algorithms/protocols
New cryptographic methods for cryptocurrencies
Network analysis of transactions on public ledgers
Macroeconomic studies of cryptocurrencies
Computer hardware design of new components
Novel applications of cryptocurrencies
Legal commentary on cryptocurrency uses
Finance and the effect of decentralized ledgers on markets
Sociological studies of the implications of the rise of cryptocurrencies
Analysis of proposed changes to the Bitcoin protocol, etc.
Roundtable Discussion on Prosperity and Opportunities, Technologies and Mechanisms That Shape The Future of DeFi
Last week, Anthurine, CMO of QuarkChain, joined a roundtable discussion that was organized by Guowei Finance. Here is the summary. Q1: When any new thing is born, it would undergo different stages from birth, to budding, to emerging, to prospering, and finally to becoming a common utility. DeFi is one of the examples. Currently, more and more users are participating in DeFi loans and more entrepreneurs are joining the DeFi industry with over 1000 projects. Can you share with us what your expectations are for this industry regarding its future growth and scale, given its skyrocketing scale, high growth, and lockup volume? A1: The previous guests had already given us a great overview on the latest developments in DeFi. While we should not omit a number of problems that it presents recently, especially regarding financial assets, DeFi on the whole presents itself as a more open and more convenient financial application with great future potential. The problems that are present now will not shake the foundation of DeFi development but to expose some problems early on and make DeFi even stronger. DeFi has several advantages: firstly, it can lower the costs by replacing some tasks done by the central node and rebate these saved costs to other participants. Secondly, it offers a high level of transparency. Currently financial institutions are highly specialized to a degree that even Warren Buffett did not understand the prospectus of the subprime mortgages. The contracts behind DeFi products are open, which is a stark contrast to traditional financial products that are wrapped around in layers. Thirdly, DeFi bears a high level of openness and convenience. Centralized institutions require high levels of regulations that are of high costs. In Comparison, DeFi opens for everyone to participate. However, there are still some problems with DeFi. Currently, because of some problems with ease of operations and cost of learning, its user base is not scaling enough and cannot rely on the law of large numbers like traditional finance does to guarantee its security. As a result, security depends entirely on the code of projects and such dynamics has exposed several problems. For instance, the oracle manipulation attack several weeks ago or the more recent ERC777 contract loophole attack, these attacks prompted many DeFi to employ some centralized methods to guarantee security. The above reasons lead to only a small circle of people using DeFi and yet to evangelize. As for expectations regarding the future, I see a possibility where existing DeFi will combine with traditional finance, also known as cefi, to enhance the transparency of the network and improve efficiency by using DeFi to lower the cost of DeFi. On the other hand, cefi will bring in the user scale and a wide suite of products and thus provide better services for more people, enabling DeFi to become an open finance. Going back to the present, with the negative interest rate in the backdrop, traditional finance is coming to blockchain for better yields. If we can seize the opportunity to marry defi and cefi well, then the combined effect will increase the existing scale of DeFi dramatically. It can be ten-fold or hundred-fold; it’s difficult to estimate. Q2: Currently, there are some noticeable trends in the space, one is regarding users and the other regarding industry. After we see some attacks occured recently, we also discovered the 7-day lockup amount has increased significantly. Such discovery is an intriguing one and what are your thoughts on that? Does this trend show that DeFi has obtained the basic trust of the user and is enjoying the scale of its user base to participate in the market? Recently, the lockup amount has increased yet the number of participating accounts did not grow at a corresponding rate. The two pieces of statistics point to the fact that scaled participation has not taken place yet. Another clear mark is that ETH is not congested recently. So I think we are a few miles away from reaching the scaling effect. It also means that, rather than more people are participating, this phenomenon is taking place as the existing liquidity is staked into contracts. The increase in assets confirms the trust towards DeFi and the optimism asset holders have regarding the DeFi development. Even though DeFi has been a hot topic for the past few months, compared to the community of cryptocurrencies, DeFi remains a much smaller circle since its application is difficult to use with security concerns. The phenomenon of huge increase in lock-up amount can be attributed to the promotion of DeFi on media outlets which brings in new users who discover the functions and values of DeFi. However, whether these users and capital will stay for the long time will remain in question. Macroeconomic reasons also played a huge role in the increase in lock-up. There are limited ideas in the secondary markets to make a profit with negative yield in the traditional financial market. Even the US crude oil dropped below zero for the first time in history! To hedge against risks in traditional markets, more capital flew into DeFi. Q3: It would suffice to say that DeFi is really ‘hot’ now and attracts eyeballs from many. Currently, most of the DeFi products and platforms are running on existing public chains like Maker running top of the Ethereum platform and EOS REX on top of EOS. Among all the ecosystem use cases, DeFi is the application that has the highest volume. So what are some of the things necessary from public chains to provide in order to promote and support DeFi platform development? From a public chain system standpoint, what kind of improvement and enhancement are necessary in DeFi systems in terms of technologies and mechanisms? Currently, DeFi applications are running on top of the Ethereum platform. Because of the design of Ethereum, these DeFi applications bear a few problems:
Slow operations. Network speed is slow and project developments is slow as the date for ETH2.0 to go live remains unknown
Smart contract tokens cannot directly deploy smart contracts and require additional developments. Every time one would require to have transaction fees using ETH, which lowers the composability and ease of use for DeFi.
QuarkChain has strategic approaches targeting DeFi. Since its inception, QuarkChain aims to design the next generation of DeFi network with these goals: higher security, lower transactions, high usability, and more convenience. The QuarkChain team develops its own infrastructure layer using the heterogeneous sharding framework. The framework solves all the existing problems faced by Ethereum and provides plenty of functionalities to make DeFi easier to use. Let me give you a quick overview of what heterogenous sharding is before we further delve into the approach in DeFi of QuarkChain. Bitcoin, anonymous tokens like ZCash and Grin, ETH, EOS, and all the pubic chains are all considered under the bigger umbrella of blockchain technology.The essence of blockchain technology comes from the arrangement and combination of the following four components：
Consensus (POW, POS, DPOS, PBFT),
Transaction model (BTC transaction model, different virtual machine, privacy transaction model),
Ledger model (UTXO, Account model), and
At present,for many public chains, the four elements are fixed. Once a consensus, a transaction mode, an ledger model and a token economics are selected, they can no longer be changed, which limits the flexibility and adaptability of the whole blockchain system. QuarkChain is the first public chain that implemented heterogenous sharding technology. Heterogenous sharding treats each shard as one chain and each chain can configure the four components we mentioned based on its needs. Such design allows new technologies to be incorporated into a chain and such chains can be embedded into the overall system design easily. So different chains can host different consensus mechanisms, token economics, and ledger models. Through implementing the proprietary Boson consensus, the bottom layer is highly flexible and supports cross shard transactions and contract deployment. Different DeFi contracts can be deployed on different shards to realize different effects. As such, the DeFi functionalities of QuarkChain has the following advantages:
High usability of its services: through multi-chain/shard design, the entire network can horizontally expand based on the demand of users’ throughput. The maximum throughput capacity of the entire network, after third-party verification, can reach million TPS or above. Moreover, when there appears popular applications, the application will only affect the shard chain that the application is located with no effects on the other shards, which greatly enhances the usability of the network.
Low transaction fees: The high throughput of QuarkChain also brings about another great advantage which is to significantly lower users’ transaction fees. We expect to lower the fees by tenfold, if not more. The advantages of low transaction fees can help realize more DeFi scenarios that were previously impossible on the Ethereum platform due to fee concerns, such as multi-asset combinations, multi-contract deployment, or high frequency operations.
Multinative assets: Native token refers to tokens that are directly issued by the blockchain infrastructure for maintaining normal operations. These tokens are used for realizing equity and for implementing fixed functions of the blockchain systems. Prime examples are Bitcoin, Ethereum, and QKC. On the basis of application protocols, tokens that are built on top of existing blockchain systems and are used for deploying smart contracts are known as smart contract tokens. It is widely adopted on the dApps of different public chains, of which ERC20 protocol is the most famous.99% of the tokens issued on public chains are smart contract tokens. Compared to native tokens, smart contract tokens are like second-class citizens which have many limitations, one of which is its inability to pay for transaction fees. QuarkChain allows developers and users to issue native assets to directly pay for transaction fees and participate in DeFi activities with no needs to purchase QKC. In addition, from the developers’ standpoint, they only need to maintain one set of code to support many DeFi contracts that support different multinative assets, which makes the development process more efficient.
Composability of cross-chain DeFi: While there are multiple shards running, there will be challenges as to how to use cross-chain protocol to realize users’ participation of DeFi activities across different chains. This is also known as the problem of composability. In fact, the founder of Ethereum Vitalik penned a post where he delineates how the future ETH2.0 will realize the composability of cross-chain DeFi: https://ethresear.ch/t/cross-shard-defi-composability/6268 In fact, QuarkChain already implemented Vitalik’s vision, through multinative assets, users can seamlessly participate on the DeFi activities of all shards anytime.
Blockchain events have become key highlights on calendars associated with cryptocurrency enthusiasts around the world. While no one can attend the numerous events, there are significant ones that cannot be missed. Besides the usual meet and greet at the events, industry leaders take time to explain the key trends in the industry. At the same time, cryptocurrency enthusiasts get opportunities to learn about technology advancements in addition to interacting with leaders, experts, and developers in the space. Blockchain events are known for encouraging cryptocurrency adoption, educating the public, fostering cooperation with governments and promoting innovation among other important factors.
2019 In a Nutshell
It has been a remarkable year, to say the least. Cryptocurrencies led by Bitcoin recovered significantly from the downtrend witnessed in 2018. Although the cryptos are still far away from hitting levels attained in the parabolic rally of 2017, the uptrend from April to June managed to clear several key barriers across the board. Consequently, the industry has witnessed the expansion of blockchain technology to new horizons. The market has grown significantly with news of advancements such as Facebook’s Calibra and Libra. Recently, Bakkt exchange launched the first physically settled Bitcoin futures product for institutional investors. Now, as we enter the last phases of 2019, here are the blockchain events and conferences you should definitely consider attending:
1. Eurasia Blockchain Summit, Istanbul: October 18–19
Huobi Group, a leading global digital asset financial service provider in collaboration with Kemer Partners is bringing the first annual Eurasia Blockchain Summit to be held in the city of Istanbul, Turkey. It will be a top of the notch gathering set to bring the industry’s crème de la crème to discuss topics touching on decentralization, blockchain technology and digital assets in general.
Expected to speak at the two-day event are experts in the cryptocurrency field including Huobi personnel such as CEO of Huobi Global Livio Weng, Turkish Government officials like President of the Presidential Finance Office, Prof. Dr. Goksel Asan, and leaders of the crypto industry such as Meltem Demirors CSO from Coinshares and Prof. Emin Gun Sirer. The event is expected to take Istanbul by storm. The beautiful city is home to a population eager to learn and adopt cryptocurrencies for various uses. A Statista Global Consumer Survey found that the ever-growing Turkish market has 20% of the entire population either holding or using cryptocurrencies.
2. Blockshow Asia 2019, Singapore, Marina Bay Sands: November 14–15
This event is powered by the leading media outlet Cointelegraph. Described as a “flagship for the blockchain industry.”, Blockshow Asia is popularly referred to as the festival of decentralized technology. Blockshow Asia event will see attendees and invited guests to discuss investment for both companies and individuals. Experts will discuss the trading field and the growth of blockchain innovations. Also to be discussed will be the emerging decentralized finance niche. In addition to that, attendees can expect to learn about real gaming experiences including their value and fun all at the decentralized level. Speakers expected at the Blockshow Asia include the founder of TRON Justin Sun, the founder of Elixxir and DigiCash David Chaum and the co-founder of Fundstrat Global Advisors Thomas Lee.
3. Labitconf, Uruguay — December 12–13
Once again the most influential Bitcoin conference in Latin America will bring together various top speakers from different parts of the world. The 7th Latin American Bitcoin and Blockchain conference will be hosting key players in the cryptocurrency industry. Participants are expected from over 20 countries. Also in attendance will be government officials and CEOs from leading companies. The main aim of the conference is to discuss and explore the potential of blockchain technology in current and future economies. This conference is being hosted by IOVLabs, the company powering Bitcoin smart-contract platform, RSK. IOVLabs is a firm that develops low-cost, secure and simple-to-use platforms for the emerging global economy. It strives to integrate the advantages Bitcoin offers over traditional systems to foster as well as protect growth.
4. Consensus Invest, New York, NY: November 12
Consensus: Invest is a key event in the cryptocurrency space hosted by CoinDesk, a leading cryptocurrency news and media outlet. Consensus: Invest is a global digital asset investor outlook conference and exhibition. It is known to host institutional investors, hedge funds, banking institutions, fund managers and other interested parties to deliberate and connect on matters regarding investment, storage and trading of the new asset class. The annual event concentrates on discussions directly related to trends and other investment opportunities in the digital asset market. This years’ agenda will focus on the intersection of macroeconomics and crypto. The state of the cryptocurrency infrastructure will also be discussed by a panel of experts. Similar events in the past have seen participation by global industry leaders including Kelly Loeffler, Chief Executive Officer of Bakkt; Jeffrey Sprecher, Chairman of NYSE & ICE and Dr. Mohamed A. El-Erian, Chief Economic Advisor of Allianz.
5. Malta Blockchain Week, InterContinental, Malta: Nov 4–8
Taking place at the InterContinental, Malta will be an event that strives to connect blockchain technology and Artificial Intelligence (AI) and medical cannabis. Among other main topics expected to be discussed at the event are Quantum Technology, Big Data and the Internet of Things (IoT). It will feature exhibitions from over 14,000 suppliers, investors as well as thought leaders. The Malta Blockchain Week will mark the third edition of the summit. Startups an entrepreneurs will have opportunities to compete for seed funding from deep-pocketed investors. Business owners can also look forward to making valuables. The speakers, this time, will include Hon. Joseph Muscat, Prime Minister of Malta, On. Silvio Schembri Parliamentary Secretary — Financial Services and Anthony Pompiliano Co-Founder & Partner — Morgan Creek Digital among others. As these events approach investors, experts and other cryptocurrency enthusiasts are looking forward to better performance of the crypto market towards the end of the year. In particular, the Eurasia Blockchain Summit allows the industry to interact with government officials as well as regulators. Attending these events will give investors an edge in the industry when it comes to making better decisions for the future. They will also bring the current status of the crypto industry into perspective and connect it to what is expected in the near future.
Daily analysis of cryptocurrencies 20190919(Market index 31 — Fear state)
https://preview.redd.it/ohzr58jf3kn31.png?width=432&format=png&auto=webp&s=7243012b0c5417a9ed5ecab1f85e44d93ddb564f Bank Of America Joins Marco Polo Blockchain Trade Network Bank of America has joined Marco Polo, a consortium working to bring efficiencies to international trade using blockchain technology. Founded by startups R3 and TradeIX, Marco Polo is built on R3’s Corda blockchain platform. The network aims to deliver real-time connectivity, greater visibility for trading relationships and lower barriers to accessing capital. China State Council: Promoting Integration Of New Technologies Like Blockchain Tech With Transportation Industry According to Xinhua News Agency, the Central Committee of the Communist Party of China and the State Council recently issued an outline for transportation construction in China. In terms of smart transportation innovation, the outline proposes to promote the deep integration of new technologies such as big data, Internet, artificial intelligence, and blockchain with the transportation industry. Arab Bank Switzerland Opens Bitcoin Custody, Brokerage Services Arab Bank Switzerland has partnered with blockchain technology firm Taurus to offer Bitcoin (BTC) and Ether (ETH) custody and brokerage services to its clients. Serge Robin, the CEO of Arab Bank Switzerland — a Swiss institution that forms part of the Jordan-headquartered Arab Bank group — said: “We firmly believe that blockchain will disrupt the financial industry as we know it and we intend to be amongst the. The Turkish Government Has Announced Plans To Establish A National Blockchain Infrastructure According to a Cointelegraph report, the Turkish government has announced plans to establish a national blockchain infrastructure to utilize distributed ledger technology (DLT) in public administration, according to the Strategy 2023 presentation provided by The Ministry of Industry and Technology on Sept. 18 in Ankara. Strategy 2023 emphasizes blockchain and DLT as priorities for the coming year. The document refers to a Startup Genome survey that marks blockchain as one of the fastest-growing tech trends, with a 101.5% increase in early-stage startup funding globally.
Encrypted project calendar（September 19, 2019）
NRG/Energi:Energi (NRG) Energi will launch a trading competition on the KuCoin platform on September 9th. By September 19th, 800 NRG will be presented to the top 470 participants.ADA/Cardano:The Cardano (ADA) project official will host the Wyoming hackathon from September 19th to 22nd.KIN/Kin:The Kin (KIN) project team will host a community gathering in Toronto on September 19.BTC/Bitcoin:The 2019 Open Core Summit will be held in San Francisco from September 19th to 20th.BSV/Bitcoin SV:The Bitcoin SV (BSV) BSV Eco Conference will be held in Hangzhou, China on September 19th. OKEX will jointly host the event as a strategic partner of BSV.NPX/NaPoleonX:NaPoleonX (NPX) Binance DEX will be online NPX at 9:30 am (UTC) on September 19.VIDY:On-line IDAX exchange and opening the GOB/BTC trading market
Encrypted project calendar（September 20, 2019）
NULS / NULS:The NULS 2.0 Beta hackathon will be held from September 20th to September 21st, 2019.AE/Aeternity:Aeternity (AE) will hold “Cosmos One” conference in Prague, Czech Republic on September 20thCOCOS/COCOS:The Cocos-BCX (COCOS) Oasis Arena hackathon will take place from September 20th to 22nd in Shanghai, China (“GO Shanghai”).RVN/Ravencoin:The Ravencoin (RVN) Ravencoin project team will host the “Ravencoin Asia 2019” party in Seoul, South Korea on September 20.GOB:Go online on the IDAX exchange and open the GOB/BTC trading market
Encrypted project calendar（September 21, 2019）
BTC/Bitcoin:The 6th FINWISE Global Summit Macau will be held from September 21st to 22nd. Distributed Financial Technology (DeFi) is the main topic of this conference.OKB/OKB:OKB (OKB) OKEx The Africa Cryptour series of talks in Kenya will take place on September 21 in Nairobi.ADA/Cardano:Cardano (ADA) Cardano Ambassador Marin Kramaric will host the Ada community gathering in Croatia on September 21.ZIL/Zilliqa:The Zilliqa (ZIL) Zilliqa project representative will attend the “Bitcoin and Blockchain Future” conference in London, UK on September 21st.
Encrypted project calendar（September 22, 2019）
NPXS/Pundi X:Pundi X (NPXS) PundiX Labs will officially launch the XPOS transaction at the “AkiColle” event in Tokyo on September 22.
Encrypted project calendar（September 23, 2019）
BTC/Bitcoin:Bakkt, the digital asset platform led by ICE, the parent company of the New York Stock Exchange and the world’s second largest trading group, will launch a bitcoin physical delivery futures contract on September 23.EOS/EOS:EOS main network is expected to upgrade version 1.8 on September 23DCDecred:Project leader Jake Yocom-Piatt of Decred (DCR) Decrex will attend the Encryption Community Party in San Francisco on September 23 and will deliver a speech.
Encrypted project calendar（September 24, 2019）
ENG/Enigma:Enigma (ENG) ENG main network token snapshot will end on September 24, the original start time is August 26.LINA (LINA):Lina Review will host the Lina network launch event in Ho Chi Minh City, Vietnam on September 24th and release a 10-year operational strategy.Cappasity (CAPP):Cappasity will showcase its digital signage solutions in luxury stores at the Paris Retail Week from September 24th to 26th.
Encrypted project calendar（September 25, 2019）
MIOTA/IOTA:IOTA (MIOTA) IOTA will host a community event on September 25th at the University of Southern California in Los Angeles on the theme of “Building Your Own IoT.”Quant (QNT):The Quant project will participate in a marketing conference in London from September 25th to 26th, which will focus on data technology.
Encrypted project calendar（September 26, 2019）
ADA/Cardano:The Cardano (ADA) Cardano community will host a party in Washington, DC on September 26.
Encrypted project calendar（September 27, 2019）
BTC/Bitcoin:Cripto Latin Fest will be held in Cordoba, Argentina from September 27th to 29th.Switcheo (SWTH):After a one-year token exchange process, the project team will officially end the SWH→SWTH token exchange process on September 27.
Encrypted project calendar（September 28, 2019）
ADA/Cardano:Cardano (ADA) Cardano (ADA) 2nd Anniversary, Cardinal Foundation, IOHK and EMURGO main members will participate in community celebrations in Plovdiv, Bulgaria on September 28.TOP Network (TOP):The TOP Network team will hold a hackathon in Prague, Czech Republic from September 28th to 29th.Horizen (ZEN):Horizen project BD Rep Vano Narimandize will discuss the current status and development of sidechain technology at the Industry 4.0 Blockchain Summit on September 28.
Encrypted project calendar（September 29, 2019）
GAME/GameCredits:GameCredits (GAME) is expected to perform hard forks on September 29th at block height 2519999
Encrypted project calendar（September 30, 2019）
INS/Insolar:Insolar (INS) will be on September 30thERD/Elrond:Elrond (ERD) will conduct main network test on September 30thNULS/NULS:The NULS team will plan to beta the ChainBOX in the third quarter.CS/Credits:Credits (CS) will exchange tokens and bug rewards in the third quarterQTUM/Qtum:Quantum Chain (QTUM) is expected to complete lightning network beta in the third quarterXEM/NEM:New World Bank (XEM) will release mobile wallet and computer wallet in the third quarterHC/HyperCash: hypercash (HC) will complete community management agreement in the third quarter
Encrypted project calendar（October 01, 2019）
HT/Huobi Token:The financial base public link jointly created by Firecoin and Nervos is expected to be open source in October.RVN/Ravencoin:Ravencoin (RVN) Ravencoin will perform a hard fork on October 1.ADA/Cardano:Cardano (ADA) plans to hold technical consensus meeting in Amsterdam on October 1stXRC/Bitcoin Rhodium:Bitcoin Rhodium (XRC) will record account balance awards on October 1stPPC/Peercoin:Peercoin (PPC) will perform Peercoin v0.8 (code tang lang) hard fork on October 1st
Encrypted project calendar（October 02, 2019）
BNB/Binance Coin:The 2019 DELTA Summit will be held in Malta from October 2nd to 4th. The DELTA Summit is Malta’s official blockchain and digital innovation campaign.CAPP/Cappasity:The Cappasity (CAPP) London Science and Technology Festival will be held from October 2nd to 3rd, when the Cappasity project will be attended by the Science and Technology Festival.
Encrypted project calendar（October 03, 2019）
ETC/Ethereum Classic:The 2019 Ether Classic (ETC) Summit will be held in Vancouver on October 3–4
Since the creation of Bitcoin in 2009, numerous private cryptocurrencies have been introduced.1 Bitcoin is by far the most successful one. It has been getting a lot of media attention, and its total market value has reached 20 billions USD in March 2017. More importantly, a number of cen- Abstract. This working paper presents a simple model for the macroeconomic behavior of bitcoin based on the economic equation of exchange. According to this model, the value of bitcoin is determined largely by the willingness of bitcoin holders to save bitcoin and not by its transactional use. What makes bitcoin even more of a unique asset class is it can be indirectly impacted by macroeconomics, in a big way. The impact will come from many vectors, but especially loose monetary policy In this post I’m going to provide a brief introduction to macroeconomics as it relates to Bitcoin. Obviously, I can’t condense an entire textbook into a short blog post, so I’m going to make a lot of generalizations, but hopefully you’ll still come away with the main points. Choosing your macroeconomics essay topics does not have to be frustrating. There are several timeless and timely topics that are interesting to write and read. Whether you choose a newer topic, like Bitcoin, or you pick an older topic like The Great Depression, you should be able to craft a timely paper that can be supported by modern data
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