Wednesday, April 29, 2015

It's My Life Money Making Money Ka

Too many of us let cash languish in accounts or in products paying rotten returns. Shake off this laziness and make your money work harder, plus hunt down any forgotten funds or concealed cash. You may be amazed at what you find.

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The trouble is: we need a way ensuring that the people can be trusted, that this vast network of machines can reliably keep track of our money, that no one can game the system and make off with money that isn't rightful theirs (or, at least, that no one will game things too easily). Bitcoin tackles this issue using a rather elaborate online system where people build specialized computers , or mining rigs,” that do little more than solve random math problems all day long. But David Mazières is proposing a new method, one that affords trust—perhaps even a greater level of trust—without relying on the expensive and power-hungry mining operations that drive bitcoin.

David Mazières is a professor of computer science at Stanford University But right now, he's on leave at Stellar, a San Francisco non-profit that's seeks an extreme version of that dream. Stellar aims to create a worldwide network of machines that lets anyone send any currency and have it arrive as any other—bitcoin could arrive as dollars, euros as yen, Brazilian real as dogecoin —and last summer, the organization asked Mazières to show that all those machines could keep each other accurate and honest.