Is The Devae Group or coinae.com an exchange?
No. Absolutely not. We sell coins, badges, proxies and other items that, when you register or log them here on coinae.com, you will receive FREE CoinAE Credits. CoinAE Credits are not digital currency. We do not sell CoinAE, or exchange US Dollars (or any other currency) for CoinAE.
After the CoinAE digital currency launches, the CoinAE Treasury Reserve will send your CoinAE Wallet (a separate application on a computer or smart device) one CoinAE for each CoinAE Credit in your account, at the time of your choosing. In the meantime, you collect CoinAE Credits as fast as you can. Think of it like a game, or treasure hunt.
So, simply put, neither The Devae Group nor coinae.com are exchanges.
What is the difference between a CoinAE Credit and the actual CoinAE digital currency
As of the writing of this, the actual CoinAE cryptocurrency has not launched. We are still working on the automated controls and variables needed to manage the currency through mathematical equations, instead of a central group (or government).
What is a Geocoin
Geocoins and the other trackables we sell are novelty coins that have a tracking code stamped or etched on the front, back, or edge of the item. If you choose to register the trackable here on coinae.com, you will get a FREE reward of CoinAE Credits. Additionally, soon, you can share the tracking codes with your friends, and if they are registered here on coinae.com, they can log the tracking code, then they, and you, will get a FREE reward of CoinAE Creidts. CoinAE Credits are not currency. Upon the launch of the actual CoinAE digital currency, those with CoinAE Credits here on coinae.com will be sent an equal amount of FREE CoinAE by the automated CoinAE Treasury Reserve.
Digital Currency 101: The Basics
What is digital currency?
Digital currency is money that is electronically created and stored, as opposed to physical banknotes and coins. Like traditional money, digital currencies may be used to purchase physical goods and services. Bank money stored on computers (like your checking account) is considered to be digital currency, and comprises most of the traditional money supply.
What is virtual currency?
Virtual currency is digital currency that operates like traditional money in most ways, but does not have the same official status as legal tender. Many virtual currencies are decentralized, which means that they don’t rely on confidence in a central authority, such as a government, but instead rely on a distributed system of trust. Some virtual currencies are convertible, which means they can be bought with legal tender and sold back for legal tender.
What is cryptocurrency?
Cryptocurrency is a specific type of virtual, digital currency that uses cryptography to secure transactions and to control the creation of new units. Cryptocurrencies are usually decentralized and sometimes convertible. Bitcoin was the first cryptocurrency and is the largest one as of 2014. It is both decentralized and convertible.
What are the advantages of cryptocurrency?
1. Ground Floor Opportunities
Cryptocurrency is an exciting new growth industry. It offers numerous opportunities for innovators and investors to profit from making currency faster, cheaper, safer and fairer.
2. High Speed, Low Cost Transactions
Cryptocurrency can be transmitted at the speed of the internet, and although there is third party verification of transactions for security purposes, a third party is not necessary for currency transmission. This means transaction costs can be very low or even non-existent. This feature of cryptocurrency makes it especially well-suited for international monetary exchange. Even domestically, does the elimination of three-day bank holds sound good to you? With cryptocurrency delays are only necessary when you are exchanging it to or from traditional currency.
3. Cryptographic Security
Cryptocurrency is made secure by using advanced cryptographic methods, or in other words, really complicated math! What this means for users is that their currency is protected by private keys which always remain under their own control. When you use a credit card there is always a risk that a credit card number given to a business could be used against you. But with cryptocurrency, you can transact business without giving your trading partner access to your private key.
Just as the internet democratized information by enabling any person to share information widely with less government or big media censorship, so also cryptocurrency democratizes money by enabling any person to trade widely with less government or big finance interference. Democratization is a natural consequence of the next advantage of cryptocurrency, decentralization.
A big reason for the creation of cryptocurrencies is the distrust of centralized currencies. With the U.S. debt at an all-time high and the Fed printing money like there’s no tomorrow, fears of runaway inflation in the future seem warranted. Centralized currencies can be manipulated by the currency managers to serve political or financial ends counter to the best interests of the currency users. Decentralization solves this problem.
What are the disadvantages, risks and dangers of crypto currency?
1. Growing Pains
Growing pains are the companion disadvantages to the advantages of ground floor opportunities. Because cryptocurrencies are so new, the number or merchants who accept them is limited, although it is growing rapidly. Because the cryptocurrency industry is so new, the financial service infrastructure supporting cryptocurrency is also very limited, but growing. Indeed, as outlined in the following four disadvantages, the cryptocurrency industry faces several problems — disadvantages, risks and dangers that are currently unsolved. We expect that in time, as the industry matures, these disadvantages, risks and dangers will be diminished as entrepreneurs such as the creators of CoinAE come up with innovative solutions. However, anyone seeking to profit from early opportunities needs to be aware that risks are also higher in an industry’s infancy.
2. Transaction Risk
Transaction risk is the companion disadvantage to the advantage of high speed, low cost transactions. Currently, cryptocurrency transactions are not reversible, so consumers have no way to initiate a charge back if merchandise or services don’t live up to expectations. This lack of consumer protections means crypto currency users need a higher than normal degree of trust in those with whom they do business.
3. Digital Vulnerabilities
Digital vulnerabilities are the companion disadvantages to the advantage of cryptographic security. Cryptocurrencies are protected by private keys which are at heart, information. Like passwords, this important information needs to be protected in turn. And like passwords, you can choose the method of protection you prefer. Some people turn to trusted companies on the cloud, some store key information on their own computers or mobile devices with frequent backups, and still others prefer to remove key information from the grid altogether and store it on hard copy, possibly storing such copies in a personal safe or safe-deposit box.
4. Fraud, Incompetence and Regulation
Fraud, incompetence and regulation are the companion disadvantages to the advantage of democratization. Since cryptocurrencies are available to all with less government and big finance interference, they are attractive means of exchange to criminals seeking to hide from the government. In addition, since anyone can create a cryptocurrency business, it is inevitable that some will fail, not because of evil motives, but simply due to incompetence. Eventually, the government will use fraud and incompetence as reasons to regulate cryptocurrency. Some may say that these reasons are simply pretexts for the government to reassert control over the economy, but whether or not that is true, it is certain that future increased government regulation of an unknown type and degree represents a real risk to the fledgling cryptocurrency industry — even to well-meaning and competent cryptocurrency innovators and users.
Volatility is the companion disadvantage to the advantage of decentralization. Decentralized cryptocurrencies are by nature unmanaged currencies. Historically, unmanaged currencies are highly volatile, and the resulting large swings in value present serious problems for financial service companies, investors, and average users simply trying to conduct day-to-day commerce.
What is CoinAE?
CoinAE (pronounced: KOY-nay) is a new cryptocurrency. The creators of CoinAE love the many advantages of prior cryptocurrencies, especially those of decentralization and democratization. But they also recognize that prior cryptocurrencies have responded to the problem of badly managed currencies with currencies that are completely unmanaged, thus creating a huge volatility risk. CoinAE is designed to reduce the risk of volatility by being the first elastic cryptocurrency, using public economic equations and automated systems to actually manage volatility.
Success Opportunities in CoinAE
This section still under construction.
Advanced Technical Topics in Crypto Currency
This section still under construction.
Common Advanced Theoretical Topics in Crypto Currency
How does having cryptocurrency relate to government surveillance of citizens? I’m more interested in knowing how to successfully get “off the grid” and disappear, as opposed to having my assets locked into the digital world.
Cryptocurrency is pseudo-anonymous, meaning that while there are public records of cryptocurrency transactions, the identity of account holders is not readily available unless made so by the account owner. This feature of cryptocurrency makes it less susceptible to government surveillance or seizure than traditional money stored in bank accounts, or even held as cash. In addition, cryptocurrency can be taken “off the grid” completely by printing an account (called a “wallet”) onto physical paper. The printout then becomes the physical repository of the cryptocurrency, until such time as the private key printed on the paper is typed back into “the grid”. A “paper wallet” can be made even more secure than cash—if you keep two copies, and one is stolen, you can secure your currency by entering your private key back online and sending the currency to another wallet, before the thief figures out how to do that.
This will speed the Mark of the Beast coming, as no one will be able to buy or sell except they have the Mark of the Beast.
OK, that’s not really a question, you should begin with “Will this…,” not “This will…”. 🙂
And the answer is “No, it won’t.” CoinAE is an AUTONOMOUS monetary system that provides MORE freedom, not less freedom, by existing outside of the control of the politically powerful or financially influential. Scripturally speaking, “The beast” wouldn’t use CoinAE or any other existing cryptocurrencies, because he can’t have control over them. “The beast” would have to outlaw crypto currencies. No one would be allowed to possess decentralized currencies, and you would only buy or sell if you have his mark, and whatever official currency his monetary system would allow you to use.
CoinAE is open-source, decentralized, distributed and autonomous; sort of like a currency “… of the people, by the people and for the people.”