Finance:SwiftCoin

From HandWiki

SwiftCoin is a cryptocurrency using peer-to-peer, blockchain, proof-of-work and encrypted mail application developed by Team Daniel Bruno since 2011.[1][2][3] It is a proprietary alternative to Bitcoin using similar blockchain technology.

It uses 256-SHA elliptical encryption. The name SwiftCoin derives from the SWIFT banking network, but is not associated with it. Unlike Bitcoin, SwiftCoins can not be mined. SwiftCoin is brought into existence upon the redemption of interest and principal of Solidus Bonds.

In theory, the value of a SwiftCoin is a function of the caloric energy required to produce a quantity of electricity. This functionality has been patented by Daniel Bruno, CMT. The price of SwiftCoin is set by supply and demand in the open market. Currency swaps support the currency. The amount of SwiftCoin in circulation is elastic. Dynamic money supply reduces volatility.

Both SwiftCoin and Solidus Bonds are proprietary, not open source. The blockchain ledger is not public. The SwiftCoin cryptocurrency wallet shows proof-of-work confirmations in real time.[4][5]

Intellectual Property and Notability

On July 9, 2013, the United States Patent and Trademark Office USPTO granted Daniel Bruno the SwiftCoin trademark.[6][7][8] Reputable third party sources with no affiliation to SwiftCoin recognize it as one of the first five cryptocurrencies in existence.[9]SwiftCoin is also mentioned in the book Blockchain Quick Reference: A guide to Exploring Decentralized Blockchain, written by Brenn Hill, Samanyu Chopra and Paul Valencourt.[10][11]

In theory, the value of a SwiftCoin is a function of the caloric energy required to produce x amount of electricity. In 2014, the United States Patent and Trademark Office granted Daniel Bruno, Chartered Market Technician, the first known patent for any cryptocurrency in the world.[12][13][14][15] In practice, the daily price of SwiftCoin is set by supply and demand on several cryptocurrency exchanges.[16][17][18][19]Currency swaps for fiat money support SwiftCoin and the amount of SwiftCoin in circulation is elastic. Dynamic money supply reduces cryptocurrency volatility as per the four white papers published by Daniel Bruno, CMT in 2014 and downloaded over 2000 times.[20]Because the SwiftCoin blockchain explorer is not public, SwiftCoin transactions are more anonymous than bitcoin transactions. The SwiftCoin cryptocurrency wallet in Linux and Windows shows proof-of-work confirmations in real time, permitting users to confirm receipt of SwiftCoin by a certain wallet address. The SwiftCoin Android application does not show more than one confirmation on the blockchain.[21] In contrast to bitcoin, SwiftCoin is not mined and hashing difficulty[22]does not affect value.[23]


History

In March, 2016, Team Daniel Bruno announced a US$10,000 reward to any hacker who could break SwiftCoin and John McAfee SwiftMail encryption. The contest ended on April 1, 2016 without winners.[24]

In April, 2016, Team Daniel Bruno increased the bounty to US$20,000. The contest expired on April 30, 2016, without any winners.[25]

In September, 2016, the bounty was increased to US$30,000. As of this writing, no one has claimed the SwiftCoin hack prize.

On July 25, 2016, SwiftCoin became available on Android at the Google Play Store as “John McAfee SwiftMail.” SwiftCoin can be used on Windows and Linux.[26]

An iPhone app is under development. The SwiftCoin wallet is made for ease of backup and physical transportation via pen drive.[27][28]

In 2015, Chartered Market Technician Daniel Bruno[29] published a series of papers advocating the substitution of digital currencies for dollars in commodities trading. In Digital Currency Trading and the Law of One Price, Daniel Bruno argues that Bitcoin is too volatile for commerce. Instead, commodity sellers should offer their products in decentralized digital currencies not subject to regulation by central banks.

John McAfee SwiftMail

The SwiftCoin blockchain allows for an optional mail and mail attachment along with a payment equal to or greater than 0.001 SwiftCoin. The round trip cost to send and receive a payment and mail attachment is zero. In 2015, the SwiftCoin Android app began to be marketed as John McAfee SwiftMail even though John McAfee has stated publicly that is not involved in the project.[27][28] [30][31][32]

Cofres Bitcoin company

In 2014, in Uruguay, American Daniel Bruno opened the world’s first safe deposit box franchise to use randomly generated, alpha numeric SwiftCoin wallet addresses to identify the owners of rented safe boxes.[33][34][35]

The facility was an over the counter SwiftCoin, bitcoin and alt-coin exchange hub, offering a secure and public place to buy and sell digital currencies for fiat money as well as precious metals.[36][37]

In 2015, Daniel Bruno shut down the operation after a driverless car slammed into the Montevideo flagship facility, shattering over 600 kilos of heavy storefront glass. Security video showed the driver bail out of the vehicle before impact. No one was injured.[38][39][40][41]

Forex trading and prediction markets

In 2011, SwiftCoin and bitcoin became the first digital currencies to be used to fund accounts for trading in forex, gold and silver.

See also

References

  1. ↑ "Swiftcoin Equals Free, Encrypted Communication". http://hpub.org/swiftcoin-equals-free-encrypted-communication/. Retrieved 6 July 2017. 
  2. ↑ "Swiftcoin Encrypts Mail, Makes Every Sender Unique Every Time". http://hpub.org/swiftcoin-encrypts-mail-makes-every-sender-unique-every-time/. Retrieved 6 July 2017. 
  3. ↑ https://coinreport.net/first-national-bnak-exchange/
  4. ↑ Leung, Angus (30 Dec 2016). "John McAfee to Make Email Systems Great Again With Blockchain". https://cointelegraph.com/news/john-mcafee-to-make-email-systems-great-again-with-blockchain. Retrieved 16 Oct 2018. 
  5. ↑ "SwiftCoin, Cuba's first digital currency". 23 Mar 2018. http://www.bitcoin86.com/szb/9867.html. Retrieved 6 July 2017. 
  6. ↑ "Apply for a Trademark. Search a Trademark". http://www.trademarkia.com/swiftcoin-85427714.html. Retrieved 6 July 2017. 
  7. ↑ "What is Swiftcoin?". https://www.hashgains.com/wiki/s/what-is-swiftcoin. Retrieved 23 October 2018. 
  8. ↑ "All You Need To Know About Swiftcoin Cryptocurrency". https://www.cryptotradingguide.com/2018/03/22/all-you-need-to-know-about-swiftcoin-cryptocurrency/. Retrieved 23 October 2018. 
  9. ↑ "First 5 Cryptocurrencies after Bitcoin". https://satoshiuncle.com/first-5-cryptocurrencies/. Retrieved 23 October 2018. 
  10. ↑ "Blockchain Quick Reference: A guide to Exploring Decentralized Blockchain". https://www.amazon.com/Blockchain-Quick-Reference-decentralized-application-ebook/dp/B07FS57XNP. Retrieved 23 October 2018. 
  11. ↑ "Blockchain Quick Reference: A guide to Exploring Decentralized Blockchain". https://books.google.com/books?id=RcJoDwAAQBAJ&pg=PA11&lpg=PA11&dq=swiftcoin&source=bl&ots=ueWKfEKJle&sig=V_3bH3R4zzmp9WdNa4kuquM1KU8&hl=en&sa=X&ved=2ahUKEwjy7OGT3JreAhUMUrwKHU71BvI4ZBDoATACegQIBxAB. Retrieved 23 October 2018. 
  12. ↑ "SWIFTCOIN ELECTRONIC MONEY. US Patent 13/341,948 Date: 2011-12-31 Daniel Bruno". http://hpub.org/system-and-method-for-exercise-based-power-generation-and-virtual-currency-reward-program-us-patent-application-13341948-date-2011-12-31-daniel-bruno/. Retrieved 23 October 2018. 
  13. ↑ "System and method for providing debt securities denominated in virtual currencies". http://www.google.ch/patents/US20130238478. Retrieved 23 October 2018. 
  14. ↑ "Swiftcoin Earns US Patent". http://allcoinsnews.com/2014/11/13/swiftcoin-earns-us-patent-for-mail-service-digital-currency-dual-use/. Retrieved 23 October 2018. 
  15. ↑ "What is SwiftCoin?". https://www.hashgains.com/wiki/s/what-is-swiftcoin. Retrieved 23 October 2018. 
  16. ↑ "Crypto Fresh Coin Exchange". https://cryptofresh.com/a/SWIFTCOIN. Retrieved 23 October 2018. 
  17. ↑ "Coinhills Market". https://www.coinhills.com/market/swftc/. Retrieved 23 October 2018. 
  18. ↑ [www.fxprobitcoin.com "FX Pro Bitcoin"]. www.fxprobitcoin.com. Retrieved 23 October 2018. 
  19. ↑ [www.solidusbond.com "Swiftcoin Exchange"]. www.solidusbond.com. Retrieved 23 October 2018. 
  20. ↑ "What the Heck is SwiftCoin?". https://www.swiftcointalk.org/swiftcoin-discussion/what-the-heck-is-swiftcoin-get-the-pdfs-part-1/. Retrieved 23 October 2018. 
  21. ↑ "Github SwiftCoin Public Code". https://github.com/SwiftCoin1/public-code. Retrieved 23 October 2018. 
  22. ↑ "Bitcoin Hashing Difficulty". https://bitcoinwisdom.com/bitcoin/difficulty. Retrieved 23 October 2018. 
  23. ↑ "Swiftcoin". https://walletfuture.com/swiftcoin/. Retrieved 23 October 2018. 
  24. ↑ Homes, B (10 Mar 2016). "SwiftMail creators offer $10K bounty hack Bitcoin inspired messaging service » Brave New Coin". https://bravenewcoin.com/news/swiftmail-creators-offer-10k-bounty-hack-bitcoin-inspired-messaging-service/. Retrieved 16 Oct 2018. 
  25. ↑ Olupot, Nathan Ernest (4 April 2016). "The John McAfee $20,000 SwiftCoin Hack Challenge". http://pctechmag.com/2016/04/the-john-mcafee-20000-swiftcoin-hack-challenge/. Retrieved 6 July 2017. 
  26. ↑ "John McAfee SwiftMail - LetsVenture". https://letsventure.com/JohMcAfeeSwiftMail. Retrieved 6 July 2017. 
  27. ↑ 27.0 27.1 "John McAfee SwiftMail 3.0". http://download.cnet.com/John-McAfee-SwiftMail-3-0/3000-2150_4-77462231.html. Retrieved 6 July 2017. 
  28. ↑ 28.0 28.1 "区块链进军邮箱领域：杀毒软件McAfee将使用区块链技术代替传统邮件系统 - 共享财经：区块链门户，金融科技第一站". http://www.gongxiangcj.com/show-22-2910-1.html. Retrieved 6 July 2017.  [|permanent dead link|dead link}}]
  29. ↑ "John McAfee SwiftMail". https://www.f6s.com/johnmcafeeswiftmail. Retrieved 6 July 2017. 
  30. ↑ "John McAfee Launches Encrypted Email On Blockchain Technology -". 20 August 2015. https://coinivore.com/2015/08/20/john-mcafee-launches-encrypted-email-on-blockchain-technology/. Retrieved 16 Oct 2018. 
  31. ↑ Fletcher, Katherine (21 Aug 2015). "John McAfee SwiftMail using blockchain to replace email". https://coinreport.net/john-mcafee-swiftmail-using-blockchain-replace-email/. Retrieved 17 October 2018. 
  32. ↑ Jenn, Author Sarah (19 August 2015). "John McAfee SwiftMail: Using Blockchain Technology for Email Verification". http://www.newsbtc.com/2015/08/19/john-mcafee-swiftmail-using-blockchain-technology-for-email-verification/. Retrieved 16 Oct 2018. 
  33. ↑ Finextra (5 June 2014). "Cofres Bitcoin introduces Uruguay-based safety deposit boxes". https://www.finextra.com/pressarticle/55489/cofres-bitcoin-introduces-uruguay-based-safety-deposit-boxes. Retrieved 6 July 2017. 
  34. ↑ "AngelList". https://angel.co/cofres-bitcoin. Retrieved 6 July 2017. 
  35. ↑ "Cofres Bitcoin Now Offers Offshore Numbered Safety Deposit Boxes". http://ambankers.net/article/13140/cofres-bitcoin-now-offers-offshore-numbered-safety-deposit-boxes. Retrieved 6 July 2017. 
  36. ↑ "Noticias Bitcoin del día: 15 May 2014 - Litecoin España" (in Spanish). 15 May 2014. http://litecoin.org.es/noticias-bitcoin-del-dia-15-may-2014/. Retrieved 6 July 2017. 
  37. ↑ "World’s First Bitcoin Brick and Mortar Swap Point to Open in Uruguay - BtcBitcoinNews.com". http://www.btcbitcoinnews.com/news/164405/World-s-First-Bitcoin-Brick-and-Mortar-Swap-Point-to-Open-in-Uruguay. Retrieved 6 July 2017. 
  38. ↑ "Bitcoin Shop Cofres Bitcoin Gets Smashed by a Car in Alleged". http://hpub.org/bitcoin-shop-cofres-bitcoin-gets-smashed-by-a-car-in-alleged-accident/. Retrieved 6 July 2017. 
  39. ↑ thatr; omc; idate (13 June 2015). "Bitcoin Shop Cofres Bitcoin Gets Smashed by a Car in Alleged Accident". https://thatrandomcandidate.com/2015/06/13/bitcoin-shop-cofres-bitcoin-gets-smashed-by-a-car-in-alleged-accident/. Retrieved 6 July 2017. [|permanent dead link|dead link}}]
  40. ↑ "Global Elite Banksters Take Out Bitcoin Exchange (Video) :: The Last Great Stand". https://thelastgreatstand-older.com/2015/06/15/global-elite-banksters-take-out-bitcoin-exchange-video/. Retrieved 6 July 2017. [|permanent dead link|dead link}}]
  41. ↑ "Así amaneció un local comercial de Plaza Independencia" (in Spanish). 10 June 2015. http://minuto.com.uy/asi-amanecio-un-local-comercial-de-plaza-independencia/. Retrieved 16 Oct 2018. 

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