RCN To Be Delisted

Ripio credit network commonly known as RCN is a digital currency that aims to build an “open global credit network that connects lenders and borrowers on the Ethereum blockchain to create frictionless, transparent and borderless debt markets.”

Once the coin which enjoyed a market cap of nine million dollars is now facing the misfortune of being delisted from crypto exchanges.
Firstly Binance the giant crypto exchange barred RCN from trading from 16 July 2021.And now, CoinSwitch Kubar one of India’s exchange latched RCN trade.

What happens when crypto is delisted?When a digital currency is delisted it simply means that buying and selling of the particular coin will not take place on the platform from a given date.In such a scenario person is stuck with that currency as he/ she won’t have any alternative except keeping coins in the wallet or selling it before due date.

What is crypto currency ?

Cryptocurrency is the most trending topic nowadays and the industry is also booming very much in this digital era. You must have listened about this everyone has different opinion and conception about it, now the questions arise what is crypto and why it’s so trending cryptocurrency is a digital currency or virtual currency which doesn’t exist in physical form or hard cash and is typically not issued by a government or any central authority. It is based on a blockchain system that works as a public financial transaction database.

The first decentralised cryptocurrency was bitcoin
and it came into existence in 2009, when the bitcoin became popular than many other cryptocurrencies like ethereum, litecoin, stellar and the most heated dogecoin. since cryptocurrency came into existence it’s been facing legality issues and every country has its way of dealing with cryptocurrency. Many countries have allowed their use and trade without any legal issues and while other countries have banned or restricted this kind of activity. Cryptocurrencies face criticism for many reasons which include the usage of crypto in illegal activities like its the main source of money transfer in the dark web and other illegal hacking activities. They are also praised by many for their inflation resistance, transparency and it’s becoming a great mode of investment nowadays. People have not started using it as a currency but buying it for investment which has resulted in the inflation of bitcoin and other cryptocurrencies. The most popular cryptocurrency is bitcoin which was created in January 2009 it was the first cryptocurrency or the first decentralized currency.

Recently, El Salvador became the first country to accept bitcoin as everyday currency in June 2021. In El Salvador, you can buy anything with bitcoins just like normal hard cash. Many countries have banned this mode of transaction and many have restricted its use. Countries like Algeria, Bolivia, Egypt, Iraq, Morocco, Nepal, Pakistan, and the United Arab Emirates have already banned this mode of transaction completely and countries like Bahrain, Bangladesh, China, Colombia, the Dominican Republic, Indonesia, Iran, Kuwait, Lesotho, Lithuania, Macau, Oman, Qatar, Saudi Arabia and Taiwan have allowed this kind of activity with some restrictions on it.

India has not officially announced anything about its legality but till now it’s legal to trade in cryptocurrency, now and then rumours have been spread that India is going to ban it or not but any official authorisation has not given any statement about it. If you are an Indian citizen or living in India so it is completely legal to trade in it but there’s no regulation on crypto till now, which means you are free to invest or trade in cryptocurrency but it is not regulated by any government authority to protect your money.

True friends

“Good friends care for each other…close friends understand each other, but TRUE FRIENDS stay forever…beyond words, beyond distance, beyond time…!”

Many of us have friends in our lives over the years. Some friends we make as children and then lose contact as we grow older. Other friends we make as adults and stay in touch with as long as we are in close proximity to and it is convenient to keep in touch but then over time one moves away or busy schedules slowly pull us apart and we start to lose touch.  Those friendships fall into the “good friends” or “close friends” as the opening quote cites. But then there is that last group of friends – those we call true friends – they are those we have a mutual caring about, and we understand each other’s hearts, and where bonds are formed between us that span any distance in proximity and where the bonds run so deep that no amount of time apart or lack of words will change the way we feel about that friend. These are our true friends, and when one comes into your life cherish it!

As a child our family moved often and so I was constantly making new friends each place we moved. Often the contact was lost with friends in past locations, although my memories of them were treasured. As an adult it is often harder to find the time to form those deep friendships outside your immediate family members because we are all trying to juggle a million balls in the air with work and church and service and community all while trying to give our greatest attention to our own children and spouses  where it rightfully belongs. And as a single mother for many years of my life it was even more difficult to make time for friends because playing the role of two parents by yourself while also being the sole support of your family was overwhelming to say the least.

But even during those challenging years there were individuals during that time who came into my life that I consider my truest of friends. They are individuals who saw me through tough times and who always saw the best in me despite any of my shortcomings. They picked me up at times I was down. They stood by me when I felt alone. They taught me things about life and about myself with patience and understanding. They lifted my children’s spirits and made them laugh when they were going through tough times of their own. They forgave at times when I was grumpy or obstinate. They loved me without judgment and without expectations. They gave me hugs, even at times that I may not have deserved one.  These true friends were individuals who were there for me…maybe not always in person or in word every time, but always in heart…and knowing that helped me through incredible challenges throughout the years.

True friends just do that – they help us grow and change for the better.  They support us in good times and bad. They can make us laugh when all we want to do is cry. And no matter how far apart time and distance may cause us to grow from one another, and even if death takes one of them from this world to the next, we always have the comfort of knowing that these true friends are still there for us, even if only in spirit, cheering us on and wishing us the best, because that is what true friends do for each other.

“A strong friendship doesn’t need daily conversation, doesn’t always need togetherness as long as the relationship lives in the heart, true friends will never part…”

When someone is genuinely your true friend they leave an impression on your heart that will never go away…not with time and not with distance. True friends secure a place in your heart forever.  I am forever grateful for the true friends in my life, both those who are alive and those who have passed away, thank you so much for being my true friends!

WHAT IS DOGECOIN ?

DOGECOIN

Dogecoin is a cryptocurrency which was made with a fun and friendly brand picture that aims to be a supportive introduction to cryptocurrency. Billy Markus, the creator of dogecoin ,an Oregon programmer, who came up with the concept for a kind of “joke” cryptocurrency. Which was to used to be used as a friendly introduction to cryptocurrency to the beginners. And it was not mayn’t to go mainstream as it is going now a days.

He reasoned that a more lighthearted coin, rather than Bitcoin, would have a greater chance of gaining mainstream acceptance. According to google, although Dogecoin is nowhere near the scale of Bitcoin, the ‘joke’ currency’s market cap has risen from more than $1 billion in early January to $47 billion on Saturday of June.

Dogecoin is dubbed as a “meme cryptocurrency.” Dogecoin (DOGE) is an open-source cryptocurrency that is based on a fork of the Litecoin code. As the name implies, it is mainly based on the Doge meme that swept the Internet in 2013.On a year-to-date basis, the token has climbed approximately 7,000 percent. DOGE achieved its all-time high of $0.73 on 8 May 2021, driven by optimistic tweets by Elon Musk.

Exciting Facts About Dogecoin.

  • 1. Dogecoin is an open-source, peer-to-peer digital currency popular among Shiba Inus around the world. “Doge” is our fun and friendly mascot!
  • 2. The Shiba Inu is a Japanese breed of dog that has become popular as an online meme and is associated with Dogecoin.
  • 3. Dogecoin has one of the most active and most prominent communities in the cryptocurrency world. This group has banded together to support a variety of charitable endeavors and other ventures. They were also able to fund a NASCAR race.
  • 4. Unlike Bitcoin, Dogecoin has no upper limit, which means more than 100 billion doge coins in circulation.

What is crypto and blockchain?

What is crypto?

Currently every country has its own currency regulated by its topmost federal bank. They are bought and sold and exchanged in the international currency markets like stocks. Owing to the popularity of the US in the last century and the stability and predictability of its economy, the dollar  has become the most popular and trusted currency all over. Almost all countries keep large reserves of dollars and most international trade are carried out with it. It’s the literal meaning of a ‘global currency’. But any true global currency must be regulated by some institute that represents the world just like UNO. But, on the contrary, the ‘global currency’ dollar $ is regulated by US top banks and that can definitely lead to certain manipulative advantages for the US. To offset this some countries have started to keep a basket of currency reserves including the likes of Euro. If the popularity of the dollar falls in future for whatever reason, other currencies may try to fill up the vacuum created by it.

Now the emergence of the internet has generated a new breed of global currencies, cryptocurrencies, which are regulated not by any country but by some companies.

Say someone starts a company called ABC Pvt Ltd which develops a digital platform and floats a new digital cryptocurrency called abxCoin (C). He simply links the value of C1 to $1 and makes them equal and connects it (C1) to many other currencies via the international currency market. Now one can see that this digital platform is accessible across all countries on the internet. Suppose any company in the US can buy C10000 by depositing $10000 in the bank account linked to his company ABC Ltd.  Also another company in India can buy C10000 by depositing ₹70,0000 (1$ = ₹70). If these Indian and US companies want to transact some random business  like import or export, they can easily do it with abxCoins as a mutually agreed upon common currency. But here their trust in between those companies is essential. Because ripping off anyone in this is very easy if someone is fly by night. But serious entrepreneurs can grow their business well.

Thus we have Bitcoins, dogecoin, Ethereum, etc. with some variations. Of course cryptocurrencies need not be pegged to 1 dollar as it was done above for simplicity.

Blockchain

One more important feature of cryptocurrencies is the security that they provide from hacking. A technology called Blockchain technology is used in it where a new transaction is linked to the series of old transactions and hacking is not easy like some hacker can hack an isolated transaction. In fact federal banks all over the world are now looking at ways they can also adopt this Blockchain technology for extra safety for their own currencies.

Is crypto currency legal?

In India, RBI issued a circular in 2018 directing the banks, NBFCs, and other payment service providers to not provide any services to the Crypto Exchange and to not have any commercial relations with them.

However, in 2020 the Supreme court declared the circular issued by RBI before as unconstitutional and lifted the ban.

In January of 2021, Govt issued a statement that it will introduce a bill and a sovereign digital currency will be created and all the private currencies will be banned.

However, currently there is no law in India that puts a ban on these cryptocurrency or declares them illegal. 


CRYPTOCURRENCY (BITCOINS)

CRYPTOCURRENCY [BITCOINS]:

 

HELLO! Readers here is a new essay about cryptocurrency:

 

 

Still now many are unaware of CRYPTOCURRENCY , crypto-currency, or in a short way, crypto referred to as a digital currency in which transactions are verified and records maintained by a decentralized, which means (controlled by several local offices or authorities rather than one single one) system using cryptography, which means (the art of writing or solving codes)  rather than by a centralized authority.

Many cryptocurrencies are decentralized network based on blockchain techonology-a distributed ledger enforced by a despirate network of a computers. This decentralized structure allows them to exist outside the control of government and central authorities.

WHY CRYPTOCURRENCY?

Cryptocurrencies hold the promise of making it easier to transfer funds directly between two parties, without the need for a trusted third party like a bank or credit card company.

POINTS TO KNOW ABOUT CRYPTOCURRENCY:

  1.  The word “cryptocurrency” is derived from the encryption techniqunes which are used to secure the network.
  2. still of now no one knows who created Bitcoin.
  3. Bitcoin has been valued at less than a penny.
  4. There are over 5,000 different currencied.
  5. CHINA is the biggest cryptocurrency miner.
  6. They are taxable.
  7. Cryptocurrency can’t be physically banned.
  8. The total amount of bitcoins is limited like gold or oil.

 

 

ADVANTAGE OF CRYPTOCURRENCY:

  1. Modern cryptocurrency systems come with a user “wallet” or account address which is accessible only by a public key and pirate key. The private key is only know to the owner of the wallet.
  2. Funds transfer between two parties will be easy without the need of third party like credit/debit cards or banks.
  3. Payments are safe and secured and offer an unprecedented level of anonymity.
  4. It is a cheaper alternative compared to other online transactions.
  5. Funds transfer are completed with minimal processing fees.

DISADVANTAGE OF CRYPTOCURRENCY:

  1. There is concern that cryptocurrencies like Bitcoin are not rooted in any material goods. Some research, however, has identified that the cost of producing a Bitcoin, which requires an increasingly large amount of energy, is directly related to its market price.
  2. Payments are not irreversible.
  3. The almost hidden nature of cryptocurrency transactions makes them easy to be the focus of illegal activities such as money laundering, tax-evasion and possibly even terror-financing.
  4. Cryptocurrencies are not accepted everywhere and have limited value elsewhere.

CRYPTOCURRENCY IN DAILY LIFE:

  1. Authentication/Digital Signatures.
  2. Time Stamping.
  3. Electronic Money.
  4. Secure Network Communications.
  5. Disk Encryption.

   BITCOIN:

 

 

Bitcoin is a DIGITAL CURRENCY that was created in January 2009. It follows the ideas set out in a whitepaper by the mysterious and pseudonymous Satoshi Nakamoto. The identity of the person or persons who created the technology is still a mystery. Bitcoin offers the promise of lower transaction fees than traditional online payment mechanisms and, unlike government-issued currencies, it is operated by a decentralized authority.

CONCLUSION:

In addition to battling the current economic system, cryptocurrencies have some internal challenges to overcome. Attempting to convert the entire world financial system to the BitCoin model, for example, could cause such a massive growth in blockchain size that the distributed ledger model would become impractical. On the whole, we came to know  some infromative contents about cryptocurrency and its pros and cons.Hope you people make use of it affordably.