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ARM Server Chips Challenge X86 in the Cloud – The Next Platform

February 7, 2017 | Author: admin

First they ignore you, then they laugh at you, then they fight you, then you win.

Six years following first commercial ARM Server development that was a Network Storage Appliance ZT Systems (PHYTEC) R1801e up to 16 discrete ST SPEAr ARM 9s, 80w system power, first encompassing applications report arrives; India Institute of Sciences ARM Wrestling with Big Data January 21, 2017.

Follows a history of focused assessment; Tirias, MySQL Database using Thunder X, November 14, 2016; Anandtech, Investigating Cavium Thunder X June 15, 2016; Linley Group, X-Gene 3 Challenges Xeon E5, April 2016; Journal of Physics, Frederic Pinel, University of Luxembourg, Dissertation; Energy-Performance Optimization for Cloud, November 27, 2014, HSOC Benchmark for an ARM Server May 13, 2014; University of Edinburgh, Energy Efficiency of SOC Based Processors; April 23, 2013; Calxedas own ECX1000 1.1 GHz v E3 1240 3.3 GHz, June 21, 2012 and all I can say is thats running at Intel speed.

Now all ARM consortium has to do is beat Intel fabrication production cost : price, and the customer concerns.

Intel must be concerned with the antitrust and competitive potentials having hunkered down to barricade Data Center Group Xeon in commercial pricing at 82% first tier discount off 1K. Intel statement on DCG revenue lag has little to do with actual demanders appears Intel diversion.

Assessment Broadwell Xeon E5 2600 v4 EP DP

Checked against Intel 2016 DCG revenue divided by analyst Xeon unit total production volume for determining per unit average price. Also, analyst q4 2016 broker channel inventories holding report by product category volumes, for calculating broker holdings 1K revenue value adjusted to reflect Intel 2016 percent of division revenues statement determines Intel price discount level.

Summary 33% of run or 10,775,736 units of BW v4 14nm production are priced less than full run Marginal Cost $160 is among the competitive development hurdles. Intel on Ivy and Haswell volumes has signaled to first tier dealers all margin values rung from less than 16 cores. Now sit in channels reverberating for other than cloud procurement. On amount of Intel surplus enterprise procurement secures the open market price advantage.

Note 1- BW v4 Average Marginal Cost @ $160 is $31 more than 22 nm Haswell per unit of production cost.

Note 2 Average Price of BW v4 Cost calculated below @ $174 represents the non weighed price on grade SKUs, and is not profit maximized.

Industry total revenue displacement on Broadwell E5 2600 v4 dumping is competitive cost entry barrier; $4,441,803,931, estimate a good 2x five year ARM system constituent development cost.

Q4 2016 Intel x86 broker market inventory holdings report here:

http://seekingalpha.com/article/4033057-intel-another-threat-emerges-zen

ARM fabricators and design producers;

Key; E5 26xx v4 Grade SKU, Intel 1K Price, 1st Tier Customer Price, Intel profit or (loss).

Approximately 32,852,212 units of production.

FOUR CORE

2623, 3.0 GHz, 10 MB L3, 85w; 1K $444, $79.92 ($80.08) 2637, 3.5 GHz, 10 MB L3, 135w, 1K 996, $179.28, $19.28 above cost

SIX CORE 2603, 1.7 GHz, 15 MB L3, 50w; $213, $38.34 = Variable Cost, ($121.66) 2643, 3.4 GHz, 15 MB L3, 135w, $1552, $279.36, $119.36 profit > cost

EIGHT CORE 2608L, 1.6 GHz, 20 MB L3, 50w; $363, $65.43, ($94.66) 2609, 1.7 GHz, 20 MB L3, 85w; $306, $55.087, ($104.92) 2620 2.1 GHz, 20 MB L3, 85w; $417, $75.06, ($84.94) 2667 3.2 Ghz, 20 MB L3, 135w, $2057, $370.26, $210.26 profit > cost

TEN CORE 2618L 2.2 GHz, 25 MB L3, 75w; $779, $140.22, ($19.78) 2630L 1.8 GHz, 25 MB L3, 55w; $612, $110.16, ($49.84) 2640 2.4 GHz, 25 MB L3, 90w; $939, $169.02, $9.02 above cost 2689 3.1 GHz, 25 MB L3, 165w; $2723, $490.14, $330.14 competitive profit level for Intel

TWELVE CORE 2628L 1.9 GHz, 30 MB L3, 75w; $1364, $245.52, $85.52 profit > cost 2650 2.2 Ghz, 30 MB L3, 105w; $1166; $209.88, $49.88 profit > cost 2687W 3.1 GHz, 30 MB L3, 160w; $2141, $385.38; $225.38 competitive profit level

FOURTEEN CORE 2648L 1.8 GHz, 35 Mb L3, 75w; $1544, $277.92, $117.92 2650L 1.7 GHz, 35 MB L3, 105w; $1332, $239.22, $79.22 2658 2.3 GHz, 35 MB L3, 105w; $1832, $329.76, $169.76 2860 2.0 GHz, 35 MB L3, 105w; $1445, $260.10, $100.10 2680 2.4 GHz, 35 MB L3, 120w; $1745, $314.10, $254.10 2690 2.6 GHz, 35 MB L3, 125w; $2090, $376.20, $216.20

SIXTEEN CORE 2683 2.1 GHz, 40 MB L3, 120w; $2424, $436.42, $276.32 2697A 2.6 GHz, 40 MB L3, 145w; $2702, $486.36, $326.36 competitive profit level

EIGHTEEN CORE 2695 2.1 GHz, 45 MB L3, 120w; $2424, $436.32, $276.32 2697 2.3 GHz, 45 Mb L3, 145w; $2702, $486.36, $326.36 competitive profit level

TWENTY CORE 2698 2.2 GHz, 50 MB L3, 135w; $3226, $580.68, $420.68 just below economic profit point for Intel

TWENTYTWO CORE 2696 2.2 GHz, 55 MB L3, 150w; $4115, $740.70, $580.70 entering economic profit points for Intel 2699 2.2 GHz, 55 Mb L3, 145w; $4115, $740.70, $580.70 2699R 2.2 GHz, 55 MB L3, 145w; $4569, $822.42, $662.42 2699A 2.4 GHz, 55 MB L3, 145w; $4938, $888.84, $728.44

Marginal Cost of 24 (22 core) master on production economic total revenue total cost assessment (before marginal cost of sort and dice) = $511.

Science rarely leads to objects of replication, but objects for further articulation and specification under new and more stringent conditions.

Be the change you wish to see in the world. Which is the more powerful, the elephant or beehive.

Mike Bruzzone, Camp marketing

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ARM Server Chips Challenge X86 in the Cloud - The Next Platform

Why Intel’s Unite software survived last year’s brutal product purge – ITworld

February 7, 2017 | Author: admin

At first glance, Intel's Unite software comes across as an anomaly. What future does the collaboration software have in the chipmaker's future?

For now, the software is linked to Intel's PC chips, which is a core business. But it's emerging as a component of the company's virtual reality, internet of things, and server businesses, which are all central to Intel's future growth strategy after a massive restructuring last year.

Unite, which was released in 2015, allows remote and on-site users to log in to meetings and share documents and whiteboards. It works with Macs and Windows PCs as well as iPads and Android tablets, and it supports software like Skype for Business.

At the center of Unite is a hub PC in a meeting room with Intel's vPro chips. The hub PC logs in remote users and facilitates collaboration and communication.

Unite is a free-to-low-cost way to communicate and collaborate, especially when competing conference-room technologies can cost thousands of dollars, said Tom Garrison, Intel's vice president and general manager for business client platforms and its Client Computing Group.

So why would a chipmaker care about conference room software? One reason: It's a big part of workplace transformation, and it will ride a wave business PC upgrades. Research firm Gartner has projected a minor growth in PC shipments in 2018, partly driven by upgrades to sleeker PCs.

Intel last April laid off thousands of employees in an effort to cut its reliance on PCs and focus more on growing areas like data centers and the IoT. Despite its heavy reliance on PCs, Unite survived a brutal purge of low-margin and loss-making products like smartphone chips and wire-free technology.

That's partly because Unite could fit into some of Intel's new areas of focus after restructuring, including IoT, data centers, and virtual reality.

An updated version of Unite will be able to collect telemetry on the number of people in a meeting, the number of presentations in a day, and the average length of presentations. IT departments can use that data to determine productivity at meetings. Other IoT technologies could be used to enhance conference room experiences.

Also, in the future, the software could be possible to determine the names and number of people attending a meeting, which can be logged. Intel is researching cameras that can be used detect faces, and that feature could come to Unite.

Unite could also move tasks like speech translation and pin generation to the server back-end. If two separate meeting rooms in different countries are talking to each other, a real-time translation service on cloud servers could facilitate communication. Real-time translation is one of the many Unite features capabilities that could be moved to servers, Garrison said.

Perhaps the most exciting feature is bringing VR to meeting rooms via Unite. Remote users can put on a VR headset and be virtually present in a meeting room while sitting at home.

"I can participate at a higher level than in the past," Garrison said.

There are many possibilities for VR in a conference room, but there's no specific roadmap yet on when features will be rolled out, Garrison said.

"We have technologies we are working on in the lab," Garrison said.

In the meanwhile, Intel is making incremental updates to Unite. The latest updates include easier ways to moderate meetings and better security features so only authorized personnel canjoin meetings.

How to install OpenStack on a single Ubuntu Server virtual machine – TechRepublic

February 7, 2017 | Author: admin

Image: Jack Wallen

OpenStack has become the de facto standard in private cloud server platforms. If you've ever considered spinning up OpenStack, you know that it is not only an administrative challenge, but it also requires considerable hardwareto the tune of around five servers. However, if you have a powerful enough virtual machine, you can run OpenStack on a single Ubuntu Server.

SEE: How Mark Shuttleworth became the first African in space and launched a software revolution (TechRepublic PDF download)

First, you must update Ubuntu. Open a terminal window and issue the commands:

Once those commands have completed, you'll need to install git. To do this, issue the command:

Allow that installation to complete.

We're going to use git to clone devstack. To do this, go back to your terminal window and issue the following two commands:

Next, we have to copy the sample configuration file and set a password to be used for automated deployment. To complete this task, issue the following commands:

Now we must set the automated deployment password. Open the local.conf file with the command:

Search for the password variable section and ensure it reflects the following (YOURPASSWORD is the actual password you want to use):

It's time to run a few scripts. The first script will create a new user for devstack. The command to run this script is:

Once the script completes, you'll need to change the permissions of the devstack folder with the command:

It's time to run the installation scriptthis must be run as the stack user by first issuing the command sudo su stack. After you change to the stack user, kick off the install with the command /devstack/stack.sh. This command will take at least 30 minutes to complete.

When the command finally completes, you will be given an IP address (the address of the server), as well as two usernames (the admin password was created in the local.conf file). Open a browser, point it to http://SERVER_IP_ADDRESS/dashboard, and log in with the given credentials. You will be presented with the OpenStack Dashboard (Figure A).

Figure A

Congratulations! You're ready to create and deploy.

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How to install OpenStack on a single Ubuntu Server virtual machine - TechRepublic

Inabox to acquire cloud hosting firm Hostworks for $7 million – Cloud … – CRN Australia

February 7, 2017 | Author: admin

Inabox has announced it will acquire managed cloud hosting firm Hostworks from parent company BAI Communications for $7 million.

The deal is still subject to a number of conditions, including formal consent from some of Hostworks' customers. The transaction is comprised of a $5 million upfront payment, and a further $2 million payment deffered to the next financial year. The acquisition is expected to be completed by the end of the week.

Founded in 1999, Sydney-based Hostworks' product offering includes managed hosting and operations in public and hybrid clouds, digital consulting, application development and platform-as-a-service for on-demand media.

The company also operates a 24/7 network operations centre in Adelaide, which Inabox said would give it a leg up in the South Australian market.

In the last financial year, Hostworks reported $22 million in revenue, 90 percent of which was recurring revenue. It employs 92 staff and operates two data centres, one in Adelaide with 140 racks and 40 racks in Equinix' Sydney data centre.

The addition of Hostworks staff brings the total headcount to about 300 in the first year. Hostworks is expected to deliver $3.5 million in earnings in its full year under Inabox ownership.

Inabox said that the deal would also give both companies opportunities to cross-sell products and services across both customer bases. Hostworks will continue to operate as a standalone company while Inabox boosts its existingcloud offering in the enterprise market, propelling Inabox to becoming the "leading managed IT, cloud, and communications company to SMEs and corporates in Australia," the company said.

Hostworks also boasts a range of blue-chip clients including Holden, Channel Seven, Jetstar, Rydges Hotels and Foxtel.

Inabox chief executive Damian Kay said the deal would give his company the ability to manage enterprise-scale transfers of information to the cloud.

"More and more of the companies we work with are moving towards the cloud to reduce capital expenditure on infrastructure and take advantage of the convenience of cloud services, such as increased scalability and reduced maintenance costs," he said.

"We dont just want to cater for this trend, we want to be the best at it. Thats why we bought Hostworks."

Inabox has been subject to major M&A activity over the past three years. In 2014, the company acquired Anittel for up to $10 million which allowed Inabox to move into IT and cloud services.

Inabox made another acquisition in 2015 by buying the assets and customer base of AAPT wholesaler CloudXchange.

Last year, Inabox sold off the Hosted Collaboration Solutions business to Telstra for $4.5 million, which it acquired from the Anittel transaction. The business unit existed to provided Cisco hosted collaboration services to the Tasmanian government.

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Inabox to acquire cloud hosting firm Hostworks for $7 million - Cloud ... - CRN Australia

Cloud wrangling in the digital age: How to get the right skill set … – Cloud Tech

February 7, 2017 | Author: admin

(c)iStock.com/mediaphotos

The forecast for the digital era is cloudy all over. According to a recent IDC FutureScape on cloud market predictions, 50% of IT spending and 60% of IT infrastructure spending will be cloud based by 2018. Between 60% and 70% of all software, services and technology spending will be on the cloud by 2020.

IDC also forecast that 65% of organisations IT assets will be offsite, in co-located, hosting and cloud data centers by 2018. One-third of IT staff will be working at third-party service providers.

All of this leads to an industrywide shortage of cloud skills. Global Knowledge in 2015 found that one out of five decision-makers was having difficulty finding talent with the skills for cloud initiatives, while cloud computing jobs were one of the highest paying, with a mean salary of $102,000.

In its 2016 IT industry outlook, CompTIA noted the IDC prediction that the cloud would create 7 million jobs between 2013 and 2015. The trade group noted that many of these jobs most likely already existed but were reengineered with a greater cloud focus.

In short, there is a real opportunity for career advancement and success for network and data centre professionals with the right training and certifications. For those weighing a career in IT, cloud skills are in high demand and worth pursuing.

There are public clouds, private clouds, and hybrid clouds; and there is also no agreement on which type of cloud is best. That depends entirely on each organisation along with the type of data it generates and uses.

Organisations using the public cloud rely on the resources of third-party service providers for cloud storage or online accounting software. The biggest argument in its favour is cost. Organisations can rent public cloud services for monthly or annual fees and its up to the provider to keep them running, accessible and updated.

This is known as software as a service (SaaS). Some providers are going further to offer platform as a service (PaaS) and infrastructure as a service (IaaS). PaaS enables an application to run one different infrastructures. IaaS makes an entire infrastructure available as a rentable service.

The public cloud has issues, however. One of them is security and another is accessibility. Data on the public cloud may not be as secure as it should be, especially if it is sensitive financial or health information that is regulated. Also, if the internet is down, then the data and the application may not be available when the organisation needs them.

For these reasons, many organisations are setting up and maintaining their own private clouds. Organisations use private clouds to make their data more secure and to arrange them the way they prefer. They are not interested in selling SaaS but want the benefits of the cloud. The downside is the expense, which can be very big, and the need to hire scarce IT professionals with cloud expertise.

The hybrid cloud blends both approaches. Organisations keep sensitive data more secure on an internally managed private cloud. They then use the public cloud when needed, like in peak demand periods, when individual applications can be sent to the public cloud. Hybrids are also helpful during rough weather, scheduled maintenance or rolling brownouts or blackouts. IDC predicts that 80% of enterprise IT organisations will commit to the hybrid cloud by 2017.

No matter what type of cloud organisations ultimately choose, they will need IT professionals with certain cloud skills. Some of the fundamental skills are cloud migration and cloud security.

Cloud skills training and certification courses should combine learning conceptual knowledge with developing hands-on skills. Among the topics covered should be:

Although many companies have already moved to the cloud, many more are not there yet. They need IT professionals who have a solid grounding in the varying models for clouds. They also need to know how to map the organisations current IT infrastructure, including its applications and workloads on existing servers, and how to send all of what they have mapped to a cloud equivalent. The larger the organisation, the more complicated this becomes.

Cloud security is another major skill for IT professionals. Almost every day brings news of yet more data breaches. How to keep data secure, how to build and maintain secure platforms, and securing cloud infrastructure are all high-demand skills.

Additional top cloud skills cover SaaS, PaaS and IaaS. Organizations need IT professionals with knowhow to develop and work with cloud applications. The same applies to cloud platforms and infrastructures. This means they should be fluent cloud programming languages like Python, Perl and Ruby along with traditional languages like .NET, Java and PHP. Linux skills are also in high demand.

So is cloud database expertise. The hyper-connected Internet of Things generates quintillions of bytes of data daily. Organisations want most to uncover insights and new markets from this tsunami of data, and they need IT professionals with cloud database querying skills. SQL along with open source languages like MySQL, Hadoop or Mongo DB are worth learning.

With cloud skills and the certifications, IT professionals can demonstrate that they can help an IT department drive cloud deployments in a consistent and centralised manner. They become more valuable to any organisations because they know how to help to bring about desired business outcomes, such as greater business agility and lower IT architecture spending.

Read more: The top five in-demand cloud skills for 2016 and beyond

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Cloud wrangling in the digital age: How to get the right skill set ... - Cloud Tech

Cloud Computing in PNG – EMTV Online

February 7, 2017 | Author: admin

If you havent heard about Cloud Computing yet, you certainly will in 2017.

Papua New Guinea is charging full speed into the 21st century, in an attempt to keep up with our more developed counterparts and cloud computing is fast becoming a popular vehicle in driving this development.

In the era of Google Drive and Dropbox, gone are the days when companies would use hard drives, religiously, for storage purposes.

Cloud computing has replaced the archaic, storage tools of yesteryears with the easy to use and accessible anywhere, cloud.

In the simplest term, cloud computing means storing and accessing data and programs over the internet. Even more simply put, the cloud is just a metaphor for the internet.

Companies like Digicel Business have fine-tuned the internet based tool for the Papua New Guinean market.

Digicel Business has established Cloud Computing, which delivers hosted services over the internet.

The cloud service has three distinct characteristics which differentiate it from traditional hosting.

It is sold on demand, typically by the minute or the hour. It is flexible a user can have as much or as little of a service as they need at any given time. And the service is fully managed by Digicel the consumer needs nothing more than a personal computer and access to the Internet.

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Cloud Computing in PNG - EMTV Online

The Altcoin Report #4: Litecoin – Genesis Mining

February 5, 2017 | Author: admin

Its said by some that if Bitcoin is digital gold, then Litecoin is digital silver a relatively less valuable cryptocurrency thats easier to obtain, and easier to make transactions with. Created by an ex-Google engineer, Litecoin was made to supersede Bitcoin; it featured a higher market cap, a faster block generation time, a different hashing algorithm, and a modified GUI. The result was something that gave digital currency a much needed foothold in the door of the financial revolution.

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Litecoin was born out of the ashes of failure or, more specifically, the ashes of Fairbrix. A clone coin (and a fork of Tenebrix), Fairbrix was plagued with problems that led to its swift downfall. A premine period put seven million coins in the hands of a developer before launch; a software bug saw the genesis block fail to mint coins. Fairbrix left the cryptocurrency community clamouring for a Bitcoin substitute that the average Joe could mine on his hardware. And engineer Charles Lee decided to give them just that.

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Lee wasnt happy with the state of mining. At launch, Bitcoin was fair anyone could mine with a CPU, and profit. GPU mining emerged, and it became a little more difficult, but the divide still wasnt too great until ASICs arrived.

ASICs are specially engineered hardware, designed to do one thing, and do it well and it blew CPUs and GPUs away in terms of efficiency. Now, the average hobbyist could only dream of making a profit if you didnt have multiple ASICs, you didnt have a chance.

Fairness was an outfit Litecoin wore best, and a staple theme in Lees discussion and work. A proof of work algorithm, he decided, was the best choice a system where finding a problem is difficult, but verifying it is simple.

Scrypt the algorithm that Litecoin and its deceased brothers chose aimed to even the great divide between ASIC owners and the average miner. It did this by forcing the use of a specific part of the CPU (and GPU), called the scratchpad.

______

First, a comparison: Bitcoin uses Sha-256d. Sha-256d only needs computing power this means that, given enough computing power, you can calculate rounds of Sha-256d very quickly.

Scrypt, on the other hand, uses computing power and memory. This is because it generates a large amount of pseudo-random data, storing it in the scratchpad, and referencing the data in a random way.

The scratchpad is a fixed amount of space that lives in your CPU or GPU, independent of things like VRAM and actual machine RAM. You cant add to it, and it fills up fast. At launch, this made it impractical if not impossible to run on specific hardware like FPGA or ASICs. A very specific machine with a large scratchpad size would need to be made for Scrypt mining.

______

It was the approach to launching Litecoin rather than the technology behind it that generated the wave of publicity. The source code for Litecoin was launched a week before the genesis block, and Lee encouraged people to mine on the Testnet (a testing ground for altcoins, which doesnt generate rewards or add blocks to a live chain).

This had a joint effect: not only did it get people talking about Litecoin, and its benefits, but their hardware was set up and optimized for the launch.

On October 7th, 2011, after mining only 150 LTC, Charles Lee released Litecoin to the world.

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Litecoin was, primarily, a vehicle for investors who wanted to get in early on what could be the next wave of digital currencies.

Six years on, its left a very impressionable history. Sure, its not easy to find a pub that will take your coins or a taxi but youll be able to spend your coin on gift cards, pet food, and even jewelry.

Its become a testing ground, too big changes to Bitcoin could cost the market a lot of money, but with Litecoin, more risk is able to be taken. The community is smaller, so its easier to convince a large portion of people to upgrade often, Litecoin tests out new features or experimental ideas that Bitcoin cannot.

The project got a small boost when Warren Togami a former engineer at Red Hat signed on as Litecoins lead developer and created a nonprofit foundation to manage the Litecoin software, much like the Bitcoin Foundation.

Charlie Lee is still engaged with the Litecoin project and gives thoughts for improvement on various crypto-topics, for example including SegWit and Lightning Networks in Litecoin and Bitcoin.

Litecoin is traded on Poloniex, Kraken, Shapeshift and many more.

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Official Website CoinMarketCap Litecoin Reddit

Stay tuned for our next report! If youd like to start mining Litecoin you can do so here!

Disclaimer: Our AltcoinReports are provided to give an overview of available Altcoins in our mining catalog and the cryptocurrency market. We are not affiliated with any of Altcoin development teams and we dont guarantee the accuracy of the displayed information. Furthermore, this is no investment advice.

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LCF Coin Prelaunch Review: Rothschilds & Chinese govt altcoin?

February 2, 2017 | Author: admin

As far as I can tell, LCF Coin or whoever is behind it doesnt have an official web presence.

Those promoting LCF Coin are doing so via Google forms. What happens to the information entered into these forms is unclear.

The marketing narrative for LCF Coin is that the Rothschild Family and Chinese government are teaming up to launch a cryptocurrency.

Thats pretty much all theyre going with, apart from an official launch purportedly taking place in February, 2017.

Marketing for LCF Coin is all manner of bogus. Apart from the bombastic claim of the Rothschild family teaming up with the Chinese government to launch the coin,LCF Coin affiliates are also claiming:

There is of course no third-party evidence to back up any of these claims, or even indeed the involvement of either the Rothschild family or Chinese government in LCF Coin.

In the run up to a launch sometime in early 2017, LCF Coin are promising affiliates free LCF Coins if they recruit new affiliates.

LCF Coins are represented as having a value of 50 cents each, with this value seemingly plucked from thin air.

LCF Coin affiliate marketing presentations projectthe value of LCF Coin at $7 each by May, 2017.

Once LCF Coin launches, an MLM compensation plan purportedly based on a 55 matrix will be used to pay affiliates with.

LCF Coin are not charging affiliates to sign up yet, but presumably fees will be charged at launch and pay out via the matrix.

This of course would be pyramid recruitment, on top of Ponzi investment fraud via LCF Coins.

At the time of publication LCF Coin does not appear on any reputable public cryptocurrency exchange.

Given affiliates are taking names via Google forms, Id say theres a good chance LCF Coins dont exist yet period.

The lcfcoin.com domain was privately registered through a Korean company on November 2nd, 2016. The domain is currently parked with a coming soon message.

Putting all of this together, scammers in Korea and/or China appear to be building an email list of gullible idiots to push an MLM altcoin onto later this year.

Expect the usual were gunna be the next bitcoin pitches, with the Rothschild and Chinese government claims likely to be dropped at public launch (they can get away with it now because LCF Coin doesnt exist outside of scattered Google forms).

I can tell you thatif either the Chinese government or the Rothschilds were looking to get into cryptocurrency, they wouldnt be doing it through shoddy websites with hypey promises that link to Google forms.

The LCF Coin signup forms Ive seen are demanding names, a passport number, cell phone number, drivers license and an email address. Identity theft of the extremely stupid people who fill in these forms is also a possibility.

Well keep an eye out on whether LCF Coin actually launches later this year, but for now it appears to be shaping up as just another MLM altcoin pump and dump scam.

Update 12th January 2017 The Rothschild family have clarified they have nothing to do with LCF Coin.

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LCF Coin Prelaunch Review: Rothschilds & Chinese govt altcoin?

Electronic money – Wikipedia

January 31, 2017 | Author: admin

"E-cash" redirects here. For the specific 20th century brand, see ecash. For the 21st century currency, see Digital currency.

Electronic money, or e-money, is the money balance recorded electronically on a stored-value card. These cards have microprocessors embedded which can be loaded with a monetary value. Another form of electronic money is network money, software that allows the transfer of value on computer networks, particularly the internet. Electronic money is a floating claim on a private bank or other financial institution that is not linked to any particular account.[1] Examples of electronic money are bank deposits, electronic funds transfer, direct deposit, payment processors, and digital currencies.

Electronic money can either be centralized, where there is a central point of control over the money supply, or decentralized, where the control over the money supply can come from various sources. Electronic money that is decentralized is also known as digital currencies. The major difference between E-money and digital currencies is that E-money doesn't change the value of the fiat currency (USD, EUR) it represents, but digital currency is not equivalent to any fiat currency. In other words, all digital currency is Electronic money, but Electronic money is not necessarily digital currency. Many mobile sub-systems have been introduced in the past few years including Google Wallet and Apple Pay.

In 1983, a research paper by David Chaum introduced the idea of digital cash.[2] In 1990, he founded DigiCash, an electronic cash company, in Amsterdam to commercialize the ideas in his research.[3] It filed for bankruptcy in 1998.[4][5] In 1999, Chaum left the company.

In 1997, Coca Cola offered buying from vending machines using mobile payments.[6] After that PayPal emerged in 1998.[7] Other system such as e-gold followed suit, but faced issues because it was used by criminals and was raided by US Feds in 2005.[3] In 2008, bitcoin was introduced, which marked the start of Digital currencies.[3]

Since 2001, the European Union has implemented the E-Money Directive "on the taking up, pursuit and prudential supervision of the business of electronic money institutions" last amended in 2009.[8] Doubts on the real nature of EU electronic money have arisen, since calls have been made in connection with the 2007 EU Payment Services Directive in favor of merging payment institutions and electronic money institutions. Such a merger could mean that electronic money is of the same nature as bank money or scriptural money.

In the United States, electronic money is governed by Article 4A of the Uniform Commercial Code for wholesale transactions and the Electronic Fund Transfer Act for consumer transactions. Provider's responsibility and consumer's liability are regulated under Regulation E.[9][10]

Many systemssuch as PayPal, eCash, WebMoney, Payoneer, cashU, and Hub Culture's Ven will sell their electronic currency [clarification needed] directly to the end user. Other systems only sell through third party digital currency exchangers. The M-Pesa system is used to transfer money through mobile phones in Africa, India, Afghanistan, and Eastern Europe. Some community currencies, like some local exchange trading systems (LETS) and the Community Exchange System, work with electronic transactions.

A number of electronic money systems use contactless payment transfer in order to facilitate easy payment and give the payee more confidence in not letting go of their electronic wallet during the transaction.

Cryptocurrencies allow electronic money systems to be decentralized, systems include:

A hard electronic currency is one that does not have services to dispute or reverse charges. In other words, it is akin to cash in that it only supports non-reversible transactions. Reversing transactions, even in case of a legitimate error, unauthorized use, or failure of a vendor to supply goods is difficult, if not impossible. The advantage of this arrangement is that the operating costs of the electronic currency system are greatly reduced by not having to resolve payment disputes. Additionally, it allows the electronic currency transactions to clear instantly, making the funds available immediately to the recipient. This means that using hard electronic currency is more akin to a cash transaction. Examples are Western Union, KlickEx and Bitcoin.

A soft electronic currency is one that allows for reversal of payments, for example in case of fraud or disputes. Reversible payment methods generally have a "clearing time" of 72 hours or more. Examples are PayPal and credit card. A hard currency can be softened by using a trusted third party or an escrow service.

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Electronic money - Wikipedia

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January 31, 2017 | Author: admin

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