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In E Money Bags We Trust. The man a young Jay-Z reached out to, to get Nas in an early video.
Main Post: In E Money Bags We Trust. The man a young Jay-Z reached out to, to get Nas in an early video.
Top Comment:
Can't blame ya if you've never heard of E Moneybags as he never made a big splash in the music world although the man was seriously connected.
He was allegedly one of the biggest drug dealers in Queens and was a rival of the infamous Supreme Team street gang (the guys who allegedly shot 50 Cent and killed his moms) and was also the man who a younger Jay-Z reached out to to get Nas featured in one of his earliest videos...
So why does all that background matter? Only to explain how a relatively unknown figure (in the music world) could make an album that features Nas, Kool G Rap, Nature and Capone (he also recorded and released tracks with 2pac and Live Squad)..
so how is the album? Not particularly good but not bad either. It sounds exactly as this description reads: a vanity project by a drug dealer who had aspirations of making it in the rap game..
Used to be quite hard to find but a discogs check seems to infer it can be had for relatively cheap. I am fairly certain there is a pressing error on all of them that skips on a track (but for the life of me I can't remember which) but it's hard to find other people with copies of this record to compare (I seem to recall asking one other person and them having the same issue?).
Anyway, sadly, E Moneybags was killed in 2001 by members of the Supreme Team after he shot and killed Supreme's right hand man..
Thugs Calm Down featuring Nas & Nature - https://www.youtube.com/watch?v=SfoyORfcYRw
E*Trade Wants Your Cash : Superstonk
Main Post: E*Trade Wants Your Cash : Superstonk
Has anyone given e-Money (NGM) a hard look yet?
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So with the whole Terra thing we lost the ecosystem's once favored stablecoin (UST).
Now it's great that have bridged DAI and USDC over from Ethereum, but I was wondering why didn't people flock to the other native stablecoin protocols.
- Shade Protocol (Secret Network) is still in development so its easy to see why it wasn't considered. For those not familiar, the plan is to peg its stablecoin (Silk) to the Special Drawing Rights instead of one single currency.
- Onto the other one, e-Money (NGM). This one is already established, so why didn't people go for it?
What is e-Money (NGM)?
Founded in 2016 by a Danish fintech company, e-Money is a blockchain-based payment platform that aims to bridge the legacy banking system with a single efficient blockchain layer. Built on Cosmos technology, the e-Money protocol is built for the issuance of a range of interest-bearing currency-backed stablecoins.
What stablecoins are available?
I have mostly noticed EEUR, which is a stablecoin pegged to Euro. Their website seems to suggest they might have a couple of more (eCHF, eNOK, eDKK, and eSEK). Most notably, they don't seem to have any tokens pegged to USD.
NOTE: Their website has what seems to be a mistake. For Swiss Frances, they use the denotation CHZ instead of CHF. I am not too familiar with currency tickers, so not sure if what they have on their website is indeed a valid alternate or not.
How is the peg maintained?
Apparently, each token is backed by a reserve of assets denominated in its underlying currency. Apparently, they have quarterly reserve audits performed by Ernst & Young.
Closing:
This is not a shill post, I am curious why didn't people flock to this after the Terra collapse. Is it because of one of the following reasons?
- The project is relatively obscure when compared to DAI and USDC.
- The project's audit claims haven't been verified. (Couldn't find any info)
- They issue a Euro based stablecoin, while most people are used to a USD based one.
- Is there some other reason that I am missing?
If anyone has more experience with this project, please feel free to chip in. I brought this up since I was curious about the community's thoughts on this project.
Top Comment:
I think eMoney is more well known inside Cosmos than outside but I feel DAI is much more obscure in Cosmos than EEUR :)
I split my stablecoins between EEUR and UST. Guess which one is still worth something ?
Erobb221 Official Reddit
Main Post: Erobb221 Official Reddit
E-money certification process
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How long does it take to get E-money certified?
Top Comment:
I did the Emoney certification through the FPA Externship a few years ago. I kind of speed ran the modules. All in all, if you’re trying to get it done as fast as possible, maybe 6-8 hours. However, I wouldn’t recommend doing that, as I feel like taking your time and getting to know the software is more important than getting it done as fast as you can.
Reddit - The heart of the internet
Main Post: Reddit - The heart of the internet
What makes electronic money officially money? Why can't people forge electronic money?
Main Post: What makes electronic money officially money? Why can't people forge electronic money?
Top Comment:
Assuming you're talking about money in banks' computers, the answer boils down to:
- Becoming a bank isn't easy.
- Being a bank is very profitable.
- Cheating and just assigning yourself a bunch of money isn't worth risking getting caught (from the bank's perspective). An employee might want to, but they would have to get past the bank's security and audits to get away with it.