Topic: Numismatics (Page 3)
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π Bitcoin Cryptocurrency
Bitcoin (βΏ) is a cryptocurrency. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.
Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto and started in 2009 when its source code was released as open-source software. Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. Research produced by University of Cambridge estimates that in 2017, there were 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin.
Bitcoin has been criticized for its use in illegal transactions, its high electricity consumption, price volatility, and thefts from exchanges. Some economists, including several Nobel laureates, have characterized it as a speculative bubble. Bitcoin has also been used as an investment, although several regulatory agencies have issued investor alerts about bitcoin.
π Dogecoin
Dogecoin ( DOHJ-koyn, code: DOGE, symbol: Γ) is a cryptocurrency featuring a likeness of the Shiba Inu dog from the "Doge" Internet meme as its logo. Introduced as a "joke currency" on 6 December 2013, Dogecoin quickly developed its own online community and reached a capitalization of US$60 million in January 2014.
Compared with other cryptocurrencies, Dogecoin had a fast initial coin production schedule: 100 billion coins were in circulation by mid-2015, with an additional 5.256 billion coins every year thereafter. As of 30Β JuneΒ 2015, the 100 billionth Dogecoin had been mined. While there are few mainstream commercial applications, the currency has gained traction as an Internet tipping system, in which social media users grant Dogecoin tips to other users for providing interesting or noteworthy content. Dogecoin is referred to as an altcoin.
Discussed on
- "Dogecoin" | 2013-12-14 | 11 Upvotes 4 Comments
π Japanese Invasion Money
Japanese invasion money, officially known as Southern Development Bank Notes (Japanese: 倧ζ±δΊζ¦δΊθ»η₯¨ Dai TΕ-A SensΕ gunpyΕ, "Greater East Asia War military scrip"), was currency issued by the Japanese Military Authority, as a replacement for local currency after the conquest of colonies and other states in World War II. In February 1942 in Japan, laws were passed establishing the Wartime Finance Bank and the Southern Development Bank. Both institutions issued bonds to raise funds. The former loaned money primarily to military industries, but also to a wide range of other ventures, including hydroelectric generators, electric power companies, shipbuilding and petroleum. The latter provided financial services in areas occupied by the Japanese military, and Southern Development Bank notes were in fact used as de facto military scrip. In December 1942, the outstanding balance of Southern Development Bank notes stood at more than 470Β million; in March 1945, more than 13Β billion.
Already engaged in war with China, in 1940 the Japanese expanded the scope of their military operations in Asia and finally entered the Second World War in late 1941 with the attack on Pearl Harbor. Japan invaded various Asian countries, occupying vast territories and setting up military administrations.
Beginning with the capture of the Philippines, the Japanese military confiscated all hard currency, both on a federal and individual level, replacing it with locally printed notes bearing a proclamation of military issue. All notes bore the name of the Imperial Japanese government, and some notes proclaimed the "promises to pay the bearer on demand". Called βMickey Mouse Money" by local Filipinos, it was valueless after the overthrow of the Japanese, and tons of it were burned. Japanese troops were ordered to destroy bank records and any remaining currency prior to capitulation.
With the end of World War II, the currency circulated bearing the Japanese name immediately lost any value it once possessed and was discarded en masse. Money that was issued included the Philippines, Burma (now Myanmar), Malaya, North Borneo and Sarawak (now Malaysia), Singapore, Brunei, the Dutch East Indies (now Indonesia) and some areas of Oceania (New Guinea and the Solomon and Gilbert islands). Large amounts of the currency were obtained by Allied forces and civilians at the end of the war; many were kept as wartime souvenirs, and are now in both private and museum collections.
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- "Japanese Invasion Money" | 2021-05-29 | 12 Upvotes 1 Comments
π Cypherpunk
A cypherpunk is any individual advocating widespread use of strong cryptography and privacy-enhancing technologies as a route to social and political change. Originally communicating through the Cypherpunks electronic mailing list, informal groups aimed to achieve privacy and security through proactive use of cryptography. Cypherpunks have been engaged in an active movement since at least the late 1980s.
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- "Cypherpunk" | 2023-06-08 | 11 Upvotes 1 Comments
π Hashcash
Hashcash is a proof-of-work system used to limit email spam and denial-of-service attacks, and more recently has become known for its use in bitcoin (and other cryptocurrencies) as part of the mining algorithm. Hashcash was proposed in 1997 by Adam Back and described more formally in Back's 2002 paper "Hashcash - A Denial of Service Counter-Measure".
π Ithaca Hours
The Ithaca HOUR is a local currency formerly used in Ithaca, New York and was one of the longest-running local currency systems, though it is now no longer in circulation. It has inspired other similar systems in Madison, Wisconsin; Santa Barbara, California; Corvallis, Oregon; and a proposed system in the Lehigh Valley, Pennsylvania. One Ithaca HOUR is valued at US$10 and is generally recommended to be used as payment for one hour's work, although the rate is negotiable.