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      "author": "steemitboard",
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      "body": "Congratulations @mohyuddin! You received a personal award!\n\n<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@mohyuddin/birthday2.png</td><td>Happy Birthday! - You are on the Steem blockchain for 2 years!</td></tr></table>\n\n<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@mohyuddin) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=mohyuddin)_</sub>\n\n\n**Do not miss the last post from @steemitboard:**\n<table><tr><td><a href=\"https://steemit.com/steemfest/@steemitboard/steemfest-commemorative-badge-refactored\"><img src=\"https://steemitimages.com/64x128/https://files.steempeak.com/file/steempeak/arcange/YqQV5Tbj-image.png\"></a></td><td><a href=\"https://steemit.com/steemfest/@steemitboard/steemfest-commemorative-badge-refactored\">SteemFest⁴  commemorative badge refactored</a></td></tr></table>\n\n###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!",
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      "body": "Congratulations @mohyuddin! You have received a personal award!\n\n[![](https://steemitimages.com/70x70/http://steemitboard.com/@mohyuddin/birthday1.png)](http://steemitboard.com/@mohyuddin)  1 Year on Steemit\n<sub>_Click on the badge to view your Board of Honor._</sub>\n\n\n**Do not miss the last post from @steemitboard:**\n<table><tr><td><a href=\"https://steemit.com/steemitboard/@steemitboard/steemitboard-ranking-update-resteem-and-resteemed-added\"><img src=\"https://steemitimages.com/64x128/https://cdn.steemitimages.com/DQmfRVpHQhLDhnjDtqck8GPv9NPvNKPfMsDaAFDE1D9Er2Z/header_ranking.png\"></a></td><td><a href=\"https://steemit.com/steemitboard/@steemitboard/steemitboard-ranking-update-resteem-and-resteemed-added\">SteemitBoard Ranking update - Resteem and Resteemed added</a></td></tr></table>\n\n> Support [SteemitBoard's project](https://steemit.com/@steemitboard)! **[Vote for its witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1)** and **get one more award**!",
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      "body": "👀I enjoyed this post! ❤️  It was very interesting and new. Looks like your new like me and this platform is so COOL!😊 I also went ahead and Upvoted and Followed. Thanks!",
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      "body": "Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:\nhttp://fortune.com/2017/10/24/bitcoin-metronome/",
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      "title": "Bitcoin Alums Announce New Digital Currency Metronome",
      "body": "New and improved?\n\nBy Jeff John Roberts October 24, 2017\nThe blockchain firm Bloq on Tuesday said it has created a rival to bitcoin called Metronome that will go on sale in December.\n\nThe announcement is significant because the founders of Bloq are longtime fixtures in the world of bitcoin, and are claiming that Metronome addresses flaws in how the original crypto-currency, which is now worth around $100 billion, is created and distributed.\n\n“Today, bitcoin faces existential threats from forks, developer drama and so on. Knowing what we know and having a clean sheet of paper, we asked what what would we build and the answer is this,” Jeff Garzik, CEO of Bloq and a longtime bitcoin developer, told Fortune by phone.\n\nOne of the features that distinguish Metronome from bitcoin is it will be sold in a series of auctions. This is different from many other digital currencies, which rely on miners who use large amounts of computer power to extract “coins” and make them available for public use.\n\nThe initial Metronome sale will take place over several days and will entail a reverse auction in which the initial price will be set very high—probably $500 says Garzik—and then drop until it meets market demand.\n\nAccording to Matthew Roszak, a co-founder of Bloq and a longtime bitcoin investor, the reverse auction process will give a broad number of people a chance to own Metronomes, and will prevent people with deep-pockets taking outsize positions in the currency.\n\nHere are some more details about how the auction process from the Metronome (MTN) announcement:\nUpon launch, an initial supply of 10 million MTN tokens will be issued, with 8 million MTN tokens sold in a descending price auction (“DPA”) for Ethereum’s ether currency (ETH). Each day thereafter, new MTN tokens will be sold in a DPA at the rate that is the greater of 2,880 MTN per day, or an annual rate equal to 2.0000% of the then outstanding supply per year, providing a predictable supply over time. 100 percent of the ETH proceeds from the initial and daily auctions will remain within the Metronome smart contract system to provide liquidity to the MTN marketplace. Bloq will retain a 2 million MTN author retention, and will not receive any ETH proceeds from the auctions\nNote that Bloq will keep 2 million units from the original sale, which the company says will go to supporting the new currency. In all of the subsequent daily auctions, Metronome’s protocol calls for the proceeds to be disbursed in an automated fashion under the terms of a smart contract.\n\nRemarkably, such smart contracts will also determine the entire future course of Metronome, and will not be subject to human overrides.\n\nAccording to Garzick, the new currency’s code has been “battle tested” by elite auditors and can’t be subverted by hackers—which is what befell a project called the DAO that involved venture capitalists putting $60 million into investment fund overseen only by smart contracts.\n\nBloq is confident this will not occur this time, and that Metronome is set to run and conduct daily automated auctions in perpetuity.\n\nUpdate: The news of Metronome has been met with harsh response by some on Twitter, who have suggested Garzik is exacerbating bitcoin divisions, and questioned the integrity of his team.\nGoing cross-blockchain\n\nAnother features of Bloq is that it will be “cross-blockchain,” meaning it will ride atop existing digital currency infrastructure—specifically the Ethereum and bitcoin-based networks—and also let owners transfer Metronomes across them.\n\nWhile this promises flexibility, one potential downside is that Metronomes can be exposed to the same risks as their underlying network. This means that, if the bitcoin or Ethereum network become compromised or vulnerable to attack, the Metronomes could be vulnerable too.\n\nGarzick’s response to this is that such problems will be averted because the smart contracts that define Metronome instruct the currency to seek out stability.\n\n“When existential threats hit, it will automatically switch to somewhere safer,” he said.\n\nIf this is the case, then the value of Metronome should stay the same across different networks, and its longterm success will not be determined by the individuals fates of bitcoin or Ethereum.\n\nMuch of this is likely to be beyond the comprehension of the average crypto-currency investor, who typically wants to buy a little bit of bitcoin and leave it at that.\n\nIt should also be noted that Bloq is hardly the first outfit to come up with a new crypto-currency (there are literally hundreds of them), and that some people are warning the whole phenomenon represents a bubble.\n\nBut if the Metronome project succeeds—Garzik and Roszak say developers will soon build the interfaces that make it accessible to ordinary consumers—it could create a serious longterm rival to bitcoin.",
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      "body": "Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:\nhttps://steemit.com/cryptocurrency/@adyjee/russia-launches-own-cryptocurrency-dubbed-the-cryptoruble",
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      "author": "mohyuddin",
      "permlink": "end-of-cash-russia-launches-own-cryptocurrency-dubbed-the-cryptoruble",
      "title": "END OF CASH: Russia launches own cryptocurrency dubbed the Cryptoruble",
      "body": "VLADIMIR Putin has given the green light for Russia to have it’s own cryptocurrency - dubbed the CryptoRuble.\n![Vladimir-Putin-867686.jpg](https://steemitimages.com/DQmPiST5vft4fXjxNqG5cpbCqX4V69CCXHdDFA2ewtmW3gH/Vladimir-Putin-867686.jpg)\nThe move will propel Russia into the digital currency market and pit it against rival Bitcoin.\n\nOfficials said that once it is launched in a few weeks time, all other cryptocurrencies will be banned in the country.\n\nRussia’s Communications Minister Nikolay Nikiforov said the Government also plans to fully regulate the Cryptoruble.\n\nHe told Russia Today: “I am so confident to declare that we will run CryptoRuble just for one simple reason: if we don’t, our neighbours in the Eurasian Economic Community will do it in a couple of months.\n“When buying and selling a CryptoRuble, the rate will be 13 percent from the earned difference. \n\n“If the owner cannot explain the reason for the appearance of his CryptoRubles, when converting them into Russian rubles, the tax for him will be 13 percent of the total.”\n\nRussian officials said the Cryptoruble will be taxed and the tax will be applied to any appreciation in value that occurs.\n\nThe new currency will use Russian designed encryption in a bid for it to remain traceable.\nAnd Mr Putin already has plans to make the currency international.\n\nRussia's Deputy Minister of Economic Development Oleg Fomichev, said the national digital currency will be moved to international markets as there was no point that it remained within Russia.\n\nHe said: “This mustn’t be a private currency, but the one, which is issued by the state, controlled by the state and enable to provide circulation of digital money in light of the digital economy.”\n\nThe Russian president had recently been extremely critical of bitcoins - one of the most popular cryptocurrencies on the market. ![Bitcoin-1099184.jpg](https://steemitimages.com/DQmckiwGtaMXxc5cZM4JN1dEgQMrP5X1k5SciVCjgXYpFnd/Bitcoin-1099184.jpg)\nAt a meeting with financial leaders in Sochi last week, he blasted it for being “risky and used for crime.” \n\nHe said: “The use of cryptocurrencies bears serious risks\" citing money laundering, tax evasion and funding for terrorism.”\n\nHe then called for a “regulatory environment” to ensure that the digital currencies are used fairly.\n\nBitcoin, the most well-known virtual currency, emerged in mid-2010.\n\nIt last traded at around (£3649) $4,807, up from its initial price of less than $1.\n\nMr Putin's calls for more regulation sent the price of bitcoin soaring.",
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      "permlink": "making-money-with-steemit-steem-dollars-and-steem-power-explained",
      "title": "Making Money with Steemit (Steem Dollars and Steem Power explained)",
      "body": "A lot of fuss has been going around  in the past few months. Steemit is kind of a social news platform that pays users with digital currency called Steem for posting and upvoting good content. Think of , but with a nice add-on of getting paid for your participation.\nA bit of history about Steem\nSteem (the digital currency, not to be confused with Steemit the website) was first described in a whitepaper in March 2016. Steem and Steemit were in Beta until July 4th 2016.  Once the platform (Steemit) became live and payments were made to the contributors, the currency saw a 1800% increase in its price from $0.24 to $4.63. However, since then the hype dulled down and the currency has slowly declined back to $0.28.\nThis explosive growth and fast demise of the currency made people suspect Steem was perhaps just another Pump and Dump scheme. In such a scheme the founders and early adopters drive up the currency value through media hype and then sell off their coins at a huge profit. The people who get hurt by this are the late joiners who are stuck with a lot of coins that lost their value.",
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