See Also
ELI5 : What is Proof of Trust (PoT)?
Proof of Trust is a consensus mechanism where users “stake” the trust they’ve earned in a network in order to verify cryptocurrency transactions. In a proof of trust system, users will earn a virtual value called “trust” every time they acquire a role in the ecosystem. A highly trusted node will be able to verify […]
What is the difference between digital money and cryptocurrencies?
Cryptocurrencies are a form of digital money, but what we normally understand as digital money is represented in fiat currency. For instance, prepaid cards, virtual credit cards and other forms of digital money are simply fiat money deposited into some account under a traditional banking institution. Parents, for instance, can load up their children’s cards […]
How do I convert Bitcoin to US Dollars and Euros?
To convert Bitcon and other cryptocurrencies into US Dollars, Euros or other currencies, you need an exchange that will work with fiat money. Most cryptocurrency exchanges don’t, because fiat requires compliance with local and international regulations and in most cases the reserve requirements are out of reach for the typical unfunded crypto hackers who happen […]
Brazilian tax authority hardens rules for Bitcoin exchanges: monthly statements to become mandatory
The Brazilian equivalent of the IRS, Receita Federal (RFB), wants to tighten the rules for cryptocurrency exchanges. The new administrative guidelines were released to the public when the terms of a public consultation were published earlier today. Anti-Money Laundering The consultation was opened to request comments from experts about how to deal with tax dodging […]