Coins talk because they are a language of their very own. Money has been the most persuasive way to get someone to do something for a myriad of years. The navigational flags represent letters to communicate a message when people cannot understand or hear. What will the blockchain use to deliver information to the coin-holders? The signs may come in the flag shape of charts, or in the way history repeats itself. The signs of the time may be delivered P2P.
•POW is like the general public 1,000+ years ago, when people held their coins that existed from proof of work.
•POS is like ancient nobility, the Kings, Queens, Emperors, and Wang. Their empires grew from proof of stake.
•PoI is brand new, or maybe it is like Atlantis was.
The first examples I could find of money were from 6,000 BC in Sumeria, but if I were a gambling girl I would bet coins were around long before that. Cash was king and came in the form of coins, rings, shells and a variety of tangible assets.
The Knights Templar created the first banking system on earth, that we know of. In 1100AD, the Knights invented a system of coded notes that allowed people to travel without coins. That coded piece of paper would be honored by other Knights and could be redeemed for cash.
For the past one thousand years, we have existed beyond coin-based societies. The entities in power behind the paper have been in control, instead of the individual coin holder. Before banking began, there was no invisible money; you either had coins made of bronze, silver, and gold, or you did not.
People knew that coins were valuable, and there was a limited supply, but they had no earthly idea of how much gold existed. Today, we have valuable information at our disposal.
•“The target number of total EOS token supply is 1 Billion with the potential (depending on community votes) of up to 5% inflation per annum.”
•Ether is unlimited, but there is a supposed cap of 18 million ether/year.
•THERE ARE 24 MILLION BITCOINS AND 84 MILLION LITECOINS TO BE MINED
•Steem coins and dollars are earned by producing and getting steem power.
I am not sure how coins achieve privacy on a transparent system, like Zcash, but I have a lot to learn about this new world. They say history repeats itself, and as I delve into this, the more similarities I see emerge from ancient civilizations. Money has sent a consistent message, and continues to communicate a range of emotions from safety to success. If earned, the coins can reward a person with a sense of accomplishment. If the coins were found or gifted, a person can feel blessed or just plain old lucky.
My next post I want to look at how existing businesses will be affected by a transparent market. What will happen when something new on the block is offering to do for free, what people are doing for a job today. Follow me and let’s figure it out together @HealthChain.