Amolecoin: The New Digital Gold.

AmoleCoin...The New Digital Gold.

The definition of money
Before getting into the nitty-gritty of cryptocurrencies, you need to understand the definition of money itself. The philosophy behind money is a bit like the whole “which came first: the chicken or the egg?” thing. In order for money to be valuable, it must have a number of characteristics, such as the following:

Enough people must have it.
Merchants must accept it as a form of payment.
Society must trust that it’s valuable and that it will remain valuable in the future.
Of course, in the old days, when you traded your chicken for shoes, the values of the exchanged materials were inherent to their nature. But when coins, cash, and credit cards came into play, the definition of money and, more importantly, the trust model of money changed.
Another key change in money has been its ease of transaction. The hassle of carrying a ton of gold bars from one country to another was one of the main reasons cash was invented. Then, when people got even lazier, credit cards were invented. But credit cards carry the money that your government controls. As the world becomes more interconnected and more concerned about authorities who may or may not have people’s best interests in mind, cryptocurrencies may offer a valuable alternative.

What are cryptocurrencies?
Cryptocurrencies are digital tokens, they are not physical coins or cash. They are a type of digital money that allows people to make payments directly to each other through an online system. They were set up to allow person-to-person transactions without the need for banks.

Cryptocurrencies have no value set by law. They are simply worth what people are willing to pay for them in the market.

Who invented cryptocurrency?
No one knows.

In October 2008, a group of geniuses named Satoshi Nakamoto officially unveiled a report detailing the workings of a new form of currency: Bitcoin.

Nakamoto, who was once rumoured to be Australian academic* Craig Wright, claimed to be a 37-year-old man living in Japan, but some say he’s unlikely to be Japanese given his perfect English.

Key cryptocurrency benefits

Reducing corruption: With great power comes great responsibility. But when you give a ton of power to only one person or entity, the chances of their abusing that power increase. The 19th-century British politician Lord Acton said it best: “Power tends to corrupt, and absolute power corrupts absolutely.” Cryptocurrencies aim to resolve the issue of absolute power by distributing power among many people or, better yet, among all the members of the network. That’s the key idea behind blockchain technology anyway.

Eliminating extreme money printing: Governments have central banks, and central banks have the ability to simply print money when they’re faced with a serious economic problem. This process is also called quantitative easing. By printing more money, a government may be able to bail out debt or devalue its currency. However, this approach is like putting a bandage on a broken leg. Not only does it rarely solve the problem, but the negative side effects also can sometimes surpass the original issue.

For example, when a country like Iran or Venezuela prints too much money, the value of its currency drops so much that inflation skyrockets and people can’t even afford to buy everyday goods and services. Their cash becomes barely as valuable as rolls of toilet paper. Most cryptocurrencies have a limited, set amount of coins available. When all those coins are in circulation, a central entity or the company behind the blockchain has no easy way to simply create more coins or add on to its supply.

Giving people charge of their own money: With traditional cash, you’re basically giving away all your control to central banks and the government. If you trust your government, that’s great, but keep in mind that at any point, your government is able to simply freeze your bank account and deny your access to your funds. For example, in the United States, if you don’t have a legal will and own a business, the government has the right to all your assets if you pass away. Some governments can even simply abolish bank notes the way India did in 2016. With cryptocurrencies, you and only you can access your funds.
Cutting out the middleman: With traditional money, every time you make a transfer, a middleman like your bank or a digital payment service takes a cut. With cryptocurrencies, all the network members in the blockchain are that middleman; their compensation is formulated differently from that of fiat money middlemen’s and therefore is minimal in comparison.
Serving the unbanked: A vast portion of the world’s citizens has no access or limited access to payment systems like banks. Cryptocurrencies aim to resolve this issue by spreading digital commerce around the globe so that anyone with a mobile phone can start making payments. And yes, more people have access to mobile phones than to banks. In fact, more people have mobile phones than have toilets, but at this point the blockchain technology may not be able to resolve the latter issue.

How many cryptocurrencies are there?
Just as there are many different traditional currencies in the world (Australian dollar, Euro, Japanese yen), there are many different cryptocurrencies. In fact, there are more than 1300 with the most well-known of these is Bitcoin.

A new cryptocurrency can be created at any time. Bitcoin is the world’s largest cryptocurrency followed by Ethereum, Ripple, Bitcoin Cash, Cardano, and Litecoin.

Activity in cryptocurrency markets has increased a lot and prices of cryptocurrencies have risen quickly.

The fascination with these currencies appears to have been more about making money (buying them to make a profit*) rather than their use as a new and unique system for making payments.


Is Amolecoin the same as (Or Owned By )Amole of Dashen Bank?

No!!! Amolecoin Isnt the same Or Owned By Amole Of Dashen Bank...Our Product Amolecoin Is Digital Money And Amole is a payment System.