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SILENCING BITCOIN
COEPTIS IS LIVE BETA
BITGOLD:
A MODERN REVOLUTION IN FINANCE
I N S I D E TDIGITALGOLD.MONEY
H E N E W D G X U I1
DIGITAL
GOLD
MAGAZINE
Published
by
Digital Currency
Intelligence Authority
DCIA Ltd.
7175 Shelton Street,
Covent Garden
London, UK
editor@digitalgold.money
carl@dcia.us
Skype digitalcurrency
Digital Gold Magazine is
published 12 times a year
online. Some of the products
featured in this magazine
are not yet available to U.S.
residents. Please check local
laws before using any product
mentioned in this digital
publication.
No part of this publication may be
reproduced or transmitted in any
form without written permission
from DCIA Ltd. The information
contained herein are opinions of
sources and interviews. DCIA Ltd.
claims no reliability or accuracy to
any information contained within.
The Digital Gold Magazine is
published for reference purposes
only and is not materially
responsible for errors.
2 JANUARY 2016
Contents
www.digitalgold.money
12 Silencing Bitcoin
17 A Sneak Peek at the New DigixGlobal User Interface
32 Bitgold: A Modern Revolution in Finance by Nick Marinoff
36 The Digix Asset Tokenization Process
45 New EU License for WebMoney Brings New Requirements
46 What Group Will Soon be Enjoying the Benefits of Digital Currency?
DIGITALGOLD.MONEY 3
4 JANUARY 2016
WebMoney Gets a EU
License and Expands its
Presence in The European
Union
Financial Conduct Authority (FCA) has
licensed WebMoney Europe Ltd as an
emoney issuer in all European Union
countries. With more than 29 million
currency users, WebMoney is accepted
by more than 100 thousand online
stores around the world.
8 JANUARY 2016
If you open up your wallet, you probably find some paper money in there issued by some government, or on
behalf of a central bank that is authorized by some government. Very likely, you also have some credit or debit
cards issued by banks or credit unions, but these are only corporate extensions of governments, so not really that
different. Some people have gift cards from various companies, but these are corporations, therefore creatures
of the state. Moreover, most gift cards are denominated in national currencies.
My own wallet has a couple of Ron Helwigs Shire silver and gold wire cards, too. These are laminated cards
which contain thin strips of silver in one case, and a length of thin gold wire in the other. In other words, they
are actual gold and silver visibly embedded in the clear plastic laminate of the card.
If you are fond of history, you may have heard of the tendency of Roman emperors to debase their gold and
silver coinage, and the tendency of the Byzantine emperors to stick with the good stuff. You may have heard
that Revolutionary France was beset with inflated paper money called the assignat by the national assembly and
the mandat by the Directorate the same Directorate that used guillotines in its search for peace and justice and
discovered only baskets of severed heads and rivers of blood.
You may know that one of Napoleons secrets to popularity was restoring gold and silver coins to circulation
and melting the printer plates used to make the paper money. You may be aware of the adventures of Marco
Polo with paper money in China under Kublai Khan. And you are probably aware of the creation in late 1913
of a Federal Reserve that gradually replaced gold and silver coins in the United States with book entry and paper
money along with coins made out of base metals like zinc.
If you arent fond of history, essentially nothing in the preceding two paragraphs means anything to you. Which
DIGITALGOLD.MONEY 9
DIGITALGOLD.MONEY 11
Silencing
Bitcoin
12 JANUARY 2016
DIGITALGOLD.MONEY 13
lan Max Security VPN: This VPN service is bundled with email addresses and
aliases, 1 GB file storage, plus 25 GB of monthly bandwidth.
Our lan Max Security VPN service is a premiere multi-hop VPN, which lives up to its name.
Multi-hop means that traffic flows between multiple points along its route from the entry gateway
to the exit nodes, something like changing planes a couple of times during an extended trip.
Inside the network, internal routes are varied, traffic is mixed alongside that of other users,
and random delays get inserted to defeat traffic analysis. This technique, known as server
cascades, same features and benefits as provides many of the Tor. (Given that the Deep State
agencies in various countries are now running most of the Tor exit nodes, it might be even
better.) As a subscriber, youll also get private email addresses and email aliases, plus 1 GB
of very secure file storage. Because of its multi-hop architecture, this VPN is less suitable for
streaming applications, and bandwidth usage is limited to 25 GB per month. However, you can
also buy top-up packs to add more bandwidth.
http://elanvpn.net/
Frequently
Asked
Questions
What does Digix do?
We are a Smart Asset company
that allows anyone to securely send and receive ownerships of assets for eventual redemption
on the blockchain. The first asset listed is Gold, and other assets, such as diamonds will be
available in the near future.
How do I know if these tokens or PoA certificates are safe from fraud or duplication?
All tokens and PoA certificates are created on the Ethereum Blockchain, a public ledger where
information stored can never be manipulated or counterfeited. Our smart asset service can only
exist because of blockchain technology.
Why Singapore?
DigixGlobal is incorporated in low crime and politically stable Singapore. Investment Precious
Metals are exempted from GST locally, so you are purchasing gold at the lowest premiums
available in the world.
There are also no permits required to import or export precious metals.
Singapore also has no jurisdictional relations with USA or Europe.
We will only release your personal information by order of the Court of Law in Singapore.
16 JANUARY 2016
DIGITALGOLD.MONEY 17
Vendor Information
Custodian Information
Auditor Information
To ensure quality and authenticity, participating gold vendors only sell LBMA approved gold
bars. Gold purchased from an LBMA certified refinery is globally known for its quality. These
bullion sources guarantee the authenticity and purity of every single gold bar used on the
Digix network. Buying gold from the marketplace is the first step in the process of generating
a PoA Digital Ownership Certificate.
18 JANUARY 2016
DIGITALGOLD.MONEY 19
20 JANUARY 2016
The transaction hash for a completed certificate purchase is also available with just one click.
The Digix Aegis Vault is a smart contract enabled digital Ethereum wallet that features
several unique features that set it apart from other digital crypto wallets including multisignature control, air gapped cold storage, configurable daily withdrawal limits, and twofactor authentication, to name a few. It is designed in a way so that nobody, not even Digix,
its employees, its corporate officers, government authorities, or anyone else would be able
to spend or control its funds and assets. Individual users can create Digix Gold and Asset
tokens by giving ownership of a physical asset (PoATM Certificate) to the Minter DAE. It is a
way to represent gold bars as units of tokens on the Ethereum Blockchain database. One
Digix Gold token represents 1 gram of gold.
(Q) How do I know that there are actual gold bars backing PoA certificates or Digix Gold
tokens?
All material documents from the Proof of Asset protocol are made available via Swarm Ethereums distributed file sharing. This would mean that all assaying certificates, custodial
receipts of deposits, and independent auditor documents from the entire chain of custody
will be uploaded for public viewing to ascertain the authenticity of all PoA certificates and
Digix Gold tokens. Each entity in the chain of custody will also digitally sign on our PoA
Certificate. We only deal with vendors, custodians and auditors that have passed our due
diligence, and that are world renowned with a history of excellence. Private audits are also
available for added assurance.
DIGITALGOLD.MONEY 21
From this page, users may also view the assets history of trading within the Digix system.
22 JANUARY 2016
PoA Digital
Ownership
Certificates
are Ethereum
smart contracts
that provides
a legally and
cryptographically
binding
determination
of ownership of
physical gold
or other assets
currently under
the guardianship
of a participating
custodian on the
Digix decentralized
platform. It
also certifies
the agreement
between the user,
the vendor, the
custodian, and
the independent
auditor.
The PoA provides a complete history
of the chain of control from the vendor,
the custodian, and all audit reports. This
proof guarantees that the purchase of
the gold by the user, its storage by the
custodian, and regular inspection by the
auditor has taken place.
PoA Certificates can be transferred or
sent to any Ethereum account, sent to the
Minter DAE in exchange for Digix Asset or
Gold tokens, or redeemed from the Recast
DAE in exchange for Digix Asset or Gold
Tokens.
DIGITALGOLD.MONEY 23
24 JANUARY 2016
The interface conveniently walks customers through the online purchase of a Digital Gold PoA Certificate.
DIGITALGOLD.MONEY 25
26 JANUARY 2016
The Digix Aegis Vault is a smart contract enabled digital Ethereum wallet that features
several unique features that set it apart from other digital crypto wallets including multisignature control, air gapped cold storage, configurable daily withdrawal limits, and twofactor authentication, to name a few. It is designed in a way so that nobody, not even Digix,
its employees, its corporate officers, government authorities, or anyone else would be able
to spend or control its funds and assets.
DIGITALGOLD.MONEY 27
RESTORE WALLET
28 JANUARY 2016
Digix is committed to
bringing Ethereum use to
the mainstream, and the
availability of a secure wallet
is essential for realizing this
goal.
DIGITALGOLD.MONEY 29
ADDRESS BOOK
DIGITALGOLD.MONEY 31
I love go-o-o-o-ld!
-Austin Powers in Goldmember
Not surprisingly, most people feel the same.
According to the Wall Street Journal, gold prices and
safe-haven demand in Asia have been skyrocketing
since mid-November (1), proving that you dont have
to be a sea-faring pirate or a squire in a kings castle
to enjoy its natural glare, beauty, and above all, its
ability to stimulate wealth.
Since the days of the California Gold Rush, people
have enjoyed panning for it, selling it, and most of
32 JANUARY 2016
34 JANUARY 2016
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We have the ability to accept payment in various forms. Among the payment choices we currently like are
check, money order, cash, silver coins, gold coins, Bitcoin, and Silent Bitcoin. Please contact us for further
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www.indsovu.org
+1-913-538-5597
DIGITALGOLD.MONEY 35
Indomitus.net website, for example, which goes over my direct personal experiences meeting various people
involved in this industry. It also details the amounts of gold, silver, and other precious metals in storage, and,
where published, the numbers of accounts and volume of economic transactions taking place in the various
currencies.
This phase of activity in the digital cash arena runs from 1996 to 2007. Doug Jackson founded e-gold.com
in 1996. Bernard von NotHaus founded the Liberty Dollar in 1998. Jim and Pam Fayed built e-Bullion.com
which went online in 2000. Zeno Dahinden created the e-dinar in 2000, which was initially a variation of e-gold
and worked directly with the e-gold site. GoldMoney was founded by James Turk and Clifford Press in 2001.
JP May started one more digital currency or 1MDC in 2001. Sidd Davis brought Pecunix.com online in 2002.
There were several others, including a Phoenix Dollar made of silver, a Loom on which gold, coffee, and other
assets were traded, and a truly excellent Gold Global, all of which came a little later.
If you want to read the story of this industry, perhaps one day I might be encouraged to write it. Recently,
I learned from my friend Carl Mullan that he is writing a book about digital currencies, which, given his
involvement in digital gold, suggests quite a bit of the story is going to be available, soon. In any event, it is
a long story, though, and quite beyond the scope of this essay. My own involvement in digital gold began in
December 1998, and has not yet ended.
During that time, I met or corresponded with extensively, every single one of the founders of the various
companies mentioned two paragraphs ago, with the exception of Clifford Press. I met Doug Jackson and Pam
DIGITALGOLD.MONEY 39
Blockchain Currencies
The next phase of activity began in 2008. Two
important projects got started that year. One of them,
Bitcoin, has since risen to a great deal of fame, some
really stunning currency valuations, and seems to be a
strong currency today. The other, Voucher-Safe, took
a bit longer to develop, and is just now stretching its
legs. Other important currencies and ideas in this
space include Litecoin and the Open Transactions
system.
Earlier I mentioned the original white paper on
Bitcoin by Satoshi Nakamoto. Nobody seems to
be quite sure who this fellow Satoshi Nakamoto
actually is, but it is widely believed that the name is
a pseudonym. I gather from some people who have
analyzed the name that satoshi is a Japanese word for
wise or quick-witted. The word naka means inside.
The word moto means foundation or origin. So
perhaps the author is claiming to be clever, an insider
and original.
The white paper itself describes a process for
extending then-known cryptographic protocols to
create a digital currency software system. Very soon
after the white paper was published, a group of
software developers put together the original Bitcoin
Core protocol which is the basis of the entire Bitcoin
industry.
It took only a few years for the idea to catch on
and become, as we say about ideas on the Internet,
viral. By summer 2011, the price of a bitcoin had
grown from nearly nothing to about $25 each.
D O N AT E W I T H A N O N Y M I T Y
FROM THE
DIGITAL CASH
ALLIANCE
What is the Digital Cash Alliance?
The Digital Cash Alliance exists to move the world toward digital cash. Our alliance consists of individuals
and companies committed to a future which includes greater freedom for everyone. Cash has long been the
sine qua non of privacy, anonymity, and individual liberty. Places where cash may be used to make purchases
and where cash may be accepted to make sales tend to be places where people are more free to choose than
places where cash is forbidden. We believe that the global marketplaces online which seek to provide for
individual liberty, privacy, and anonymity would be greatly improved with digital cash. Accordingly, we seek
to promote, publicise, and encourage the use of digital cash. We hope youll join us.
Why Me?
Why am I interested in digital cash? Quite simply
because things are not okay the way they are. If the
future I was taught to expect were here, I would have
a flying car and be taking frequent vacations beyond
the Moon. There would not be a giant militaryindustrial-financial complex gaming the people
for more debt-fueled wars, destroying privacy and
freedom, and enhancing the wealth of the richest
one-tenth of one percent. There would, rather, be
freedom. Look around you.
If you would seek reasons to have digital cash, look
about you. Look all over. You wont find freedom,
you wont find progress, you wont find prosperity,
you wont find peace, you wont find anything
resembling justice anywhere you look. If you want
those things, you are going to have to build them.
And if you want to build things so very radical as
freedom, progress, prosperity, peace, and justice,
youll need tools like digital cash. So, thats why me.
If you want the global economy to be owned and
operated by national governments, central banks, and
their cronies at enormous banks and multinational
corporations, you have no need of digital cash, except
perhaps for some marginal savings over the costs
involved in the wire transfer system. But if you want
meaningful change, if you are not willing to beg the
governments to change their policies, if you want the
Federal Reserve to cease to be relevant, if you dont
actually expect people in politics to do anything to
change a system that seems to serve them very well,
perhaps you should look into digital cash. I think
youll like what you find.
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DIGITALGOLD.MONEY 45
46 JANUARY 2016
Bankers
The absolute least enthusiastic groups of potential
digital currency users are the banks and bankers.
Included in this list, are the money men and
those financial service professionals around the
world closely aligned with conventional banking
institutions. This group of licensed and regulated
individuals around the world move money
into and out of government regulated financial
products. This group holds the keys to the front
door and the back door of the banking industry. A
shift in attitude within this group could signal the
widespread adoption of digital currency not only
in America but around the globe.
Bankers and their powerful Associates are no
strangers to the limitations of international
financial markets. Each day, they wade neck
deep through U.S. regulations and pass on their
accumulated high fees to clients. From the list of
potential new users, it appears the group with the
most to gain from adopting digital currency are
the bankers and financial agents of the world.
What could power millions of financial service
professionals and bankers to change lanes and
adopt digital currency over conventional bank
products?
Profit, Security and Consumer Demand
Banks and financial companies run on profits. The
structure of commercial banking operations is
arranged to generate profits. However, promoting
digital currency to financial professionals
as the future of money is an idea worth
forgetting. Furthermore, any attempt at touting
cryptocurrency as a new less expensive banking
product is also likely to be a complete failure.
Looking back to the fist ATM cards in America,
adoption was driven by consumer convenience.
At first, the new cards were considered risky and
expensive. However, the idea of accessing cash
from anywhere in the state or across the country
proved to be persuasive consumer argument, and
the cards eventually flourished.
Removing the risk or perceived risk from any
48 JANUARY 2016
DIGITALGOLD.MONEY 49