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What is My Blockchain Life?
The BlocxkX exchange is unique.
Why My Blockchain Life?
What is different?
BlockX and My Blockchain Life offer everything offered by Binance plus several other major benefits.
- To know more, probably the most useful thing to start with is the 50-minute introduction video at https://myblockchainlife.team/videos/
- There are Zoom conference calls every Tuesday / Thursday / Sunday at 9pm (QLD Australia time). Let us know if you are in another time zone and we can send the global Zoom call schedule. For Australia and New Zealand the Zoom link is https://us02web.zoom.us/j/7777577576 This is hosted by Shane Halton (Australia) and Carol Storms (Canada). The presentation is fairly similar each time and there is a live Q and A of about 20mins at the end.
- There is a Facebook group with 400+ members at https://www.facebook.com/groups/185911729130309 You will need to be approved for entry.
- There is a very active Telegram group also. You will need to download Telegram Message app to your desktop (https://telegram.org) and/or phone from App Store or Google Play. Let us know and we will get you on to the group.
How do you earn from blockchain mining?
Cryptocurrency mining, or crypto mining, is the process whereby transactions for various forms of cryptocurrency are verified and then added to the blockchain digital ledger. Bitcoin is the original cryptocurrency and is seen as the gold standard of digital currency. Cryptocurrency mining has increased both as a point of interest and financial activity alongside cryptocurrency usage and trading which has grown massively in the last few years.
Every time a cryptocurrency transaction takes place, a cryptocurrency miner or ‘rig’ ensures the authenticity of information and updates the blockchain with the transaction. The mining process involves competing with other crypto miners to solve complicated mathematical problems that are associated with a block containing the transaction data.
The reward is that the first cryptocurrency miner to crack the code is able to authorize the transaction, and in return for the service provided, crypto-miners earn small amounts of cryptocurrency of their own. In order to be competitive with other crypto-miners, though, a cryptocurrency miner needs a computer with specialized hardware.
Aspiring crypto miners should also know that competition has increased substantially and now includes organizations and enterprises with more extensive resources than most individuals can compete with. The My Blockchain Life Team BLOCKX mining rigs in our dedicated facility in Tempe Arizona are 100% solar-powered and carbon-neutral offering the lowest cost FREEHOLD mining so far available in the world.
How safe is your money in a bank?
Probably the first thing to know is that the traditional global banking system operates on what is called fractional banking. Within this system most transactions are electronic or 'virtual'. The most important aspect of this is that it means that most banks only have maybe 5% of their total 'deposited' funds actually on hand. Put simply; if total deposits for a bank should be say for example $1,000,000 then the actual amount available in cash, in the bank vaults (maybe spread across a number of branches) would actually be around $50,000.
What this means is that pretty much everything is based on confidence and trust. That is; community confidence in the integrity of the system itself and trust in the fulfillment of promises to repay debt agreements. Without the strength of both of these essential pillars the banking system will become weakened and ultimately collapse. When this looks like happening, people naturally fearful of loosing their hard earned funds in deposit, will do a 'run' on the banks meaning they will go the bank or ATM and withdraw their money so it is in their hands in the form of cash.
We have seen what happened in Greece in 2015. Confidence in the government, the economy, and banks was running low; a huge number of people went to the banks to withdraw their money. The banks did not have the Euros in deposit as cash notes since most deposits did not exist other than in the form of digital data and most of the balance was out 'on loan'. The banks could not provide the cash notes so once the ATM's were empty and the bank vaults themselves were almost empty the banks closed their doors and the Greek economy completely collapsed. Its worth noting that the owners of these banks of ensured that they withdrew as much cash as they could for themselves. Also worth noting that many banks closed their doors before the cash had fully run out. They were able to do this because of a little know piece of legislation which actually protects the banks from 'runs'. This is generally referred to as the Bail In Act and was quietly enacted in Australia in 2018 as the Financial Sector Legislation Amendment (Crisis Resolution Powers And Other Measures) Bill 2017. Few would know that very quietly on 14 February 2018, with just 7 senators present, the Bill was passed into law on a voice vote. You likely saw no press on the matter and yet the ramifications for all Australians are potentially huge. It essentially means that the banks are protected from being obliged to return 'your' money under certain 'conditions'.
The problem is this: cash itself is not real money - it is simply a promise of payment to the bearer to the value of something else of 'equal' value. Once upon a time most major currencies were based on the US dollar as a fixed currency and backed by gold. All this ended in 1971 when Pres. Richard Nixon announced a series of economic measures in response to increasing inflation including wage and price freezes, surcharges on imports, and most importantly the unilateral cancellation of the direct international convertibility of the United States dollar to gold. Since that time the value of most major currencies have been artificially engineered by the banking elite rather than linked to something solid like gold. As mentioned above, monetary value is simply based in confidence and trust.
So.. all the signs are there for those who are watching - talk of a global digital currency has been in the news for many years. Critical thinkers know that the banks can see the writing on the wall - they have seen it before and they do not want it to happen again. A run on the banks in the current global 'pandemic' environment would be very damaging for the banks - most particularly if it happens before they get to foreclose on all the defaulted loans that are amassing.
The 'awakened' among us are already preparing for the inevitable and are quietly withdrawing and moving their cash money from bank deposit to cash on hand, investment in disruptive technology stocks, purchase of gold, silver and other precious elements and cryptocurrencies particularly Bitcoin.