Currency Evolution: Trades, Exchanges, Money into Blockchain & Beyond

   

   

Wealth creation had to have a start. If we look around, you'll see that physical currency, whether in trades or business cents (sense) has evolved.  

Let's begin..........

   Remember back in school when we would offer a bag of chip for someone else's juice box.......a simple trade right?  An exchange of goods for other goods without the use of currency aka money.  

   Long before money was invented, this transaction for exchanging services or goods called "bartering" were used. A process of trading services and/or goods between two parties without the use of money or physical currencies.

   These goods could be spices, furs, crafts, weapons, livestock, foods and of course, work. If you had a specialized skill that could be use, you might work for room and board. Salt, was a very popular spice and of such value back then, that Roman soldiers were paid with it.

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   Bartering took time though......there was negotiations, knowing who you were negotiating with, different customs and the value of the items to be bartered.  Then there was the fact that what if what you had to offer was not what the other wanted or vise versa. 

Bartering back then....."I have what you need" was the call of the day. 

Example: 

          One trader may have spices & fur, you may need weapon and wheat. So you can see where issues would arise.

Physical currencies or money would speed transactions up. 

   To make it work efficiently there has to be a value tied to this physical currency.... like rubies, gems, silver, gold & diamonds. 

Let's step back a bit.......

   As early as 1100BC items like axes & tools are believed to be used in China. Out of which the first coins were established. Around 600BC King of Lydia (a part of Turkey) established the official currency minted out of silver & gold. Somewhere 1200BCish, China had upgraded to paper currency. Being lighter and compact. 1600AD brought paper currency to the European banks. 

  As the U.S. colonies were themselves establishing their independence, the Massachusetts Colony created their own coins (1652). They also issued the Americans earliest notes (1690). The U.S. first cent was authorized in 1787, made of copper called a "Fugio" cent. President Abraham Lincoln signed the National (Currency) Banking Acts of 1863.

   With markets opening up by banks and ruling governments for which participants from across the globe exploded into international trades.

 

  Banking notes, currency markets and the need to determine comparative values on the many currencies. Brings the 17th century the first active foreign exchange market or forex to Amsterdam.

The evolution of currency did not stop there. 

   21st century trades introduces society to not only digital, mobile payments, but virtual currency as well. 

   Electronic (e) cards……credit, debit & check cards are abundant in our society today. Direct-deposit, online banking and almost every payment (car, house note etc.) you make can be processed online through some form of digital media. Do you really even see your money in hard form anymore?

   Along comes an aspiring technology called "Blockchain". This distributed ledger works ingeniously with the internet. A simple explanation breaks it down as......

   

Make an transaction, that request is expressed through a Peer-2-Peer network called Nodes (a network of computers). Algorithms validate the status & transaction. Once verified whether it records, music, contracts, videos, digital ads or of course cryptocurrency. A new "Block" is created with all transaction for the ledger. This new block is added to the chain and can not be altered. It is permanent. Transaction completed. Data is transparent within the network, making it public. Yet, one would have to override the entire network to corrupt (hack) the data.

   In 2008, a programmer and/or associates noted as "Satoshi Nakamoto" issued a paper outlining "Digital Currency" and in 2009 initiated software that generated cryptocurrency & the first "BITCOIN" network . Bitcoin is not a physical coinage. It is a decentralized authority, no government nor central banker has the power. Where as all other forms of currency are government/bank issued. Bitcoin, a cryptocurrency that is fast becoming a household name.

   For now, understand the difference between virtual, digital & crypto currency.

Virtual Currency ~  Is a type of unregulated, digital money, which is controlled by its developers. Accepted among it's specific virtual community. Say, PS4 gaming format, online game programs where currencies are only of value within that particular game or system. How about those virtual casino games. Those winning can not be use in the real world.

Digital Currency ~ Is a form of virtual currency that is electronically created and stored. For instance, Paypal, Android pay, Apple pay or Visa checkout. All transactions are strictly executed in a digital online format.


Crypto Currency ~ Is a subgroup of digital currency that uses cryptography for security. However, some types of digital currencies are cryptocurrencies. 

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BLOCKCHAIN? Understanding the Difference Between Blockchain & Distributed Ledger Technology

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   Some may believe that there is only one (1) "Blockchain." In fact, there are a few types of blockchain depending on the application.

   We first should understand that there are technical differences between "BLOCKCHAIN" & "DISTRIBUTED LEDGER TECHNOLOGIES." as well.

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   Blockchain core spotlights how data is stored & linked to each other in an sequential order represents one type of distributed ledger technology or DLT. In it's simplicity, with this technology you have a secure open source peer-2-peer network within one system, (think of it as if all these networks are within one bubble) transmitting digital records or transactions called a block. 

   The variation in this blockchain is that these sequence of blocks are "chained" without having to utilizing a middle-person whereby maximizing efficiency & cost.

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 While distributed ledgers spotlights the sharing of a database throughout all validators or nodes within that network or bubble. Depending on the entity being used, DLT need not depend on such a chain nor require proof of work. 

These ledger are a type of database that are transmitted across multiple nodes. A normal database would consist of a central assembly, since we are talking DLT's, thereby these network will be decentralized.

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   The details in these blocks are giving an unique cryptographic number (hash function, proof of work or provable security) and are time stamped. Even though these blocks are made public, only the owner with their own personal "private key" has admittance. Hence, they are called "Public blockchain" and are synonymous with our cryptocurrencies technologies used today.

   The Bitcoin behavior was the first to use this particular form of blockchain. Other virtual currencies (Ethereum, Litecoin, Dash, Ripple & Monero) use different procedures enabling faster transaction, better security, privacy & anonymity features yet with similar results. "Mining" adds value to each block by rewards the contributing computing capacity for each hashed sequence or chain.

      Next, you have what could easily and has been compared to as a shared database. 

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   Instead we referred to as "Private blockchain." This is more of an internal based sharing ledger where one central entity is a privy to read and/or write. Where public access may not be necessary. Private blockchains can provide privacy and scalability solutions due to all the nodes (computers) being strictly controlled. As we are still talking blockchain technology, keep in mind that there are consensus mechanisms, signature verification & computation requirements.

   An alternate private blockchain called Consortium -  federated blockchain allow multiple entities within an industry to share confidential data. Useful with the likes of banks, energy companies, healthcare industry, insurance agencies. If we use the bubble description as above, just picture multiple bubbles only some having a type of bridge that interact with a specific bubble or network.

   This technology is in it's infant just as the internet was just a little over 20 years ago. Emerging peer-2-peer usage will include data storage aka cloud storage, digital advertising, movies, music. Identity theft - digital ID.....birth certificates, passport. Eliminating the middle-person in digital or smart contracts evening avoiding voter fraud. 

   Hang on.....cause this technology is going to revolutionize multiple industries. There's a buzz surrounding this technology for a reason.

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INVESTING 2017 Emerging Tech Sector Offers Unique Wealth Building Opportunities

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   Well, it's definitely a whole new ball game when it comes to making that dollar dollar bill these days. With technology along side this internet........it's not that old money for sure. 

   You know back in the day, "Old Money" was handed down, inherited upper-class families. More likely to be refined, stuck-up, snobbish, well-disciplined, influential yet have a low profile, save & invest their wealth.

   Whereas, "New Money" is newly acquired wealth from the likes of the dotcom era, professional sports or entertainment fame. Called "1st generation wealth". Personalities tend to be more casual, down-to-earth, hip, a bit flashy, socially conscious, spends a little more time openly activist then their older school counter part.

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   Whether you're OLD or NEW money, communities are boosting all types of fresh ways to earn money using today's internet technologies as a means to achieve wealth today. Not to mention digital investments, freelancing, tutoring, graphics, programming, ghost writers, selling things online and if you are a decent writer even blog writing. 

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    Some people get it early on in life. Save for the future. Some people view life a little differently, live your life now tomorrow is not guaranteed. And act accordingly, they spend what they earn. Live paycheck to paycheck, consume beyond they means etc,. While some of us old school, baby boomers were simply taught to go to school, get a job & work hard.....You know the routine. You've heard the saying,  J.O.B. - Just Over Broke

   What's a person to do when we finally get it.......how do we start a journey to prosperity when you are older, maybe close to retirement? How might one boost their current finances expeditiously so as to help support an elderly loved one, travel, live a comfortable retirement or what about that bucket-list? 

   Wealth building can be an extremely complex task requiring not only the cornerstone acclaimed quote "Show Me The Money."  But, demands focus, sacrifices, education & due diligence. 

Yet, it can be done. 

One tool, is to invest. Yes, investments.

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   I am not an financial advisor, this is my disclaimer. Please seek professional advice on any information contained hereon as I am providing insight "as is". The entire risk as to the result and performance of the information is assumed by the user. 

   I will say this, as a latter end baby boomer. My working harder for someone else days are nearing their retirement days.  Along side 4 grandchildren and my youngest son a few years in high-school and college behind that. It's time for me to work & earner smarter. I am teaming up with those in the know. This squad of mentors and like minded individuals have one goal in mind.....Wealth building utilizing today's Internet Technology aka Digital Media,  for an normal person's growth.

    Moving forward in what will become the foundation of our quest will be investing and investments.....

   You've heard the term "It takes money to make money."  To invest is as simple as to contribute money into a source in hopes that you make more money later.

   Dictionary meaning - Expend money with the expectation of achieving a profit or material result by putting it into financial schemes, shares, or property.

   Investing can and should be look at as a kind of saving strategy. Only this kind of saving requires a bit more labor. Saving your money in a bank is your basic maneuver. There is absolutely no risk. 

   Simply open up a Saving Account which you usually don't readily have access to, say from an ATM or checking. Interest rate are ridiculously low and any additional service fees will also take a bite out of your low growth.

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   If one has an larger amount of funds to put away, then a higher interest account should be utilized. These accounts are called "High- Yield Saving Accounts".

   When you know that the funds to be saved will NOT  be used for a good period of time. There's an account for that as well called CD's. Stop......no, we are not talking music compact disc of the 90's and early 2000's.  These CD's are Certificates of Deposit. What happens here is, you put your money in the care of the bank for a particular time period. Generally, 6 months and in upwards of 5 years. At the duration of the deposit, referred to as the maturity period. Interest is earned on that deposit.

   Next, we start to get into what are called securities. Due to the complex structure involved in security markets, I will briefly interpret just their essential elements as their pertain to the subject at hand. 

   I wish to clarify my intent here within this and subsequent post. I hope to provide clear, smooth and painless understanding of the many many avenues in our complex financial system. The objective is to take what tactics/strategies that are out there and present them in everyday language. As we become increasingly involved in the varies subject matters surrounding wealth building strategies.........guest blogger, experienced like-minded associates along with feedback interactions will clarify what best works within said capacity.

   Securities are investment option on the saving/investment ladder. In it's essence, you can buy into a companies growth or debt. These negotiable financial products (bonds, stocks & funds) have monetary value.

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   Of these securities.....Mutual funds are a common investment tool used to help build a diversified portfolio. Unlike CDs or standard bank saving account which are insured by the Federal Deposit Insurance Corporation (FDIC). Mutual funds are not insured. Why.......simply because mutual funds are an investment not a deposit.

  We will start off the next installment with Money Market Funds. For now, soak in these simple tactics & research a bit.

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Copyright © 2017 Andrew Hayes WeHit All Rights Reserved

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Modern Internet Technology As A Home Based Online Business

  As a single parent father of my now 14 yr. old son, it is essential that I'm in his life as much as possible. With a home based online business using internet marketing....this is being accomplished

   With all the hype & different paths to take, it can be very easy to get turn around, thereby losing interest in the direction you wanted to pursue. After several years avoiding that same path. I've learnt that there are some definite basic steps needed just to ensure a minimal success growth from this online digital marketing platform.

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   Sharing insights into today's innovative use of modern internet technology that aspires personal growth. Whether it be something new, health, wealth something fascinating as an "awww" moment. WE hope to inspire a lifestyle using the internet while also increasing awareness thru emerging social media & online technologies.

   Integrating meetings, travels, communications ~ networking personal development & budgetary financial development (wealth-building) with others that are also striving to enhance their life's rewards through these digital mediums. 
   These are people I humbly want to work & interact with. Even though the internet can bring us closer together......It still is a WORLD WIDE WEB out there!

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Copyright © 2017 Andrew Hayes All Rights Reserved

Yet, Another Data Intrusion - Are You Protected?

Forbes October 2017 Update - Equifax 145.5 million Americans hacked > 4 Safeguards for your Personal Data 


WASHINGTON (AP) — Hackers linked to China appear to have gained access to the sensitive background information submitted by intelligence and military personnel for security clearances, several U.S. officials said Friday, describing a second cyber-breach of federal records that could dramatically compound the potential damage.

As Terror Threats Rise - Privacy is now more Important than Ever

   These recent string of cyber-hacking should remind us how important it is to be vigilant when it comes to our personal information, including credit and debit cards.

   While credit card fraud is the most costly result of personal data being misused – an estimated $8.6 billion annually– other types of ID theft can be harder to find and fix. “In reality, identity theft can compromise a lot more than your money,” CEO of LegalShield Jeff Bell said. “We’ve seen how stolen personal information - like a driver’s license number, medical and insurance identification numbers, social security numbers - have led to devastating events such as false arrests, tax fraud and insurance fraud. Even your child’s personal information is at risk.”

   Responding to recent national data breaches which have potentially put millions of people at increased risk of identity theft, LegalShield and Kroll have launched IDShield, the only service providing consumers with direct access to Kroll’s team of Licensed Private Investigators. This product can be accessed by visiting LegalShield’s new product website, www.IDShield.com.

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Accept Change In the Way You Do Life & Business….REAL TALK!

   

   As a home based business entrepreneur, for well over 10 years now. I have to admit that when I started out even though I had a background in sales….incidentally in electronics.  I was a bit blind and under educated to all the misconceptions, advances and continued growth of this industry.

   I did however; understand that I wanted a business. You have to get this first! Internet marketing or home based opportunities are a business, your business....it's that simple!

   What influenced me most was this emerging technology.....the Internet. I wasn't trying to find a way out of working. One will truly fail in life if they believe that there are ways to get paid and not work for it. I wanted a way to work that would fit more my life style. 

   Everyone knows I am a single parent father. I want to be able to be there whenever my child needs me.  Again, life is fast paced and I wanted to make sure I am there to keep him abreast.  In reality, it is not about making lots of money, admittedly, that is secondary. But first and foremost is the way I want to spend my time. Working from home is that answer.

   As a serious online marketer, for close to eight years now.  In upwards of ten years including dabbling. It amazes me to the staggering number of opportunities that have strung up over the years. Some have potential; most will fall short of their intended goal.

   We live today in a society that has become fast paced. Most everything we do, we have got to have it now or within to that time frame. Microwave oven, instant meals, so many fast food joints that when I do want to eat out I can't make up my mind.

Change, and what a change it have been. 

   Desktop computers have become laptops which have emerged as tablets.  Cell-phones are now smartphones and can literally replace any laptop/tablet. 

 Another example of change is how we do business transactions aka “Commerce”.  If you look around, you see that physical currency in the business sense has evolved into “e-commerce”.  
E-commerce is the buying and selling of products & services, along with the transfer of funds through digital communications.

   In e-commerce, just as gold, silver & gems (diamonds/rubies) were once used as currency a long, long time ago. Electronic (e) cards……credit, debit & check cards are abundant in our society today. Direct-deposit, online banking and almost every payment (car, house note etc.) you make can be processed online through some form of digital media. All have changed and evolved.

   Most people snub off change or are simply slow to adapt to evolution.  Why is this……when even as human being we change over time? 

   Out of the womb, we double our weight inside a months’ time. Crawling turns to standing as we begin to walk. We run, jump then learn to ride bikes, skateboards, and rollerblades eventually learning to drive automobiles. But we didn't stop there, we learn to fly airplanes and soar to the highest possible skies thru space as astronauts.

Accept the fact that change is inevitable.  And in your LIFE, goals as well as your home biz, your job is to keep up.

   Internet technology is always evolving. Through this technology, it enables those with say, less than stellar expertise, to perform critical steps in their pursuit of success in their online endeavors. This technology can assist someone with minimum skills, but has the passion & desire to accomplish a task that otherwise limit or even crush ones goal.

   See, whether you're young, just starting out, baby boomer, senior citizen or even from a different country. Understanding internet technology as it pertains to your online marketing success will assist in that pursuit.

   This is a time where one can think of contacting, networking with someone from across the globe within an instant. The internet is a community.  Enabling home based business entrepreneurs to compete with ANY business on a level playing field. 

   Many businesses, long established or newly formed alike have made the internet a key revenue generating medium. With billions of dollars transacted online annually. Internet technology gives the home based business entrepreneur that much more of an opportunity to collect their share of the world’s commerce.

Always be vigilant and patient with your business. Growth will be slow, the effort intense. Just never quit.

“I had to stop hoping so much that a ship would rescue me. I should not count on outside help. Survival had to start with me. In my experience, a castaway’s worst mistake is to hope too much and to do too little. Survival starts by paying attention to what is close at hand and immediate. To look out with idle hope is tantamount to dreaming one’s life away.

― Yann Martel, Life of Pi

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Lead generation is the key to unlimited Online business success

   This is truth. Online business sponsoring and recruiting is the only possible way to earn a major income.

   The Internet has completely changed the way network marketers generate fresh leads.

  Social networking is not only a fun avenue but also  extremely powerful.  It allows people to interact with other people who have similar interests (Direct sales, MLM, Online marketing). This is also a great place to generate exclusive targeted leads. 

   An extremely effective and powerful method is known as "Attraction Marketing".                            

What is this 

Simply, it is doing something so that people come to YOU as oppose to you seeking them out.

- Position yourself as an expert by providing valuable free information and provide solutions to your target market.

    - The internet is as powerful as one can harness. It never takes a day off, it is open 24/7, and it's open to the whole world.

With that being said
    - "Social networking" Is a key tool to attraction marketing & lead generation.

1. Facebook
2. YouTube
3. Instrgram
4. Twitter
5. Reddit
6. Pinterest
7. VineCamera
8. ASK.fm
9. Tumblr
10. Flickr
11. Google+
12. Linkedin

   In order to get targeted lead you need to be where the people are and social networking is HUGE.

   Become a "product of your environment"........ when you hang around people long enough, you generally become just like them. Socialize, follow those that you want to be like. Find similar interest and watch your network grow...... those fresh leads!

 While using the internet to attract high quality prospects, customers, leads, partners, and leaders into your business is a no-brainer, but it requires a solid plan to achieve great results.

You can also buy leads:

*CAUTION*    Do your due diligence as are many of these out there with plenty selling outdated/worthless leads!

   When you pay for advertising, you need a way to recoup those costs as fast as possible. What most successful internet marketers do is position a low cost product in between them and their leads. This is called a self-funded proposal.

   When someone clicks on your ad, and enter their email address, you take them to a sales page (video pages tend to work best), and that sales page should have a great sales pitch on a very lose cost product that you earn 100% commission from.

Continued Success :^)