How are Greenshillings created?

New Greenshillings are generated by a competitive and decentralized process called “mining”. This process involves that individuals are rewarded by the network for their services.

Greenshilling miners are processing transactions and securing the network, collecting new Greenshillings in exchange.

No central authority or developer has any power to control or manipulate the system to increase their profits. Every Greenshilling node in the world will reject anything that does not comply with the rules it expects the system to follow. Greenshillings are created at a decreasing and predictable rate.

Why do Greenshillings have value?

Greenshillings have value because they are useful as a form of money. Greenshilling has the characteristics of money (durability, portability, fungibility, scarcity, divisibility, and recognizability) based on the properties of mathematics rather than relying on physical properties (like gold and silver) or trust in central authorities (like fiat currencies).

In short, Greenshilling is backed by mathematics.

With these attributes, all that is required for a form of money to hold value is trust and adoption. In the case of Greenshilling, this can be measured by its growing base of users, merchants, and startups. As with all currency, Greenshilling’s value comes only and directly from people willing to accept them as payment.

What determines Greenshilling’s price?

The price of a Greenshilling is determined by supply and demand. When demand for Greenshillings increases, the price increases, and when demand falls, the price falls.

There is only a limited number of Greenshillings in circulation and new Greenshillings are created at a predictable and decreasing rate, which means that demand must follow this level of inflation to keep the price stable.

Because Greenshilling is still a relatively small market compared to what it could be, it doesn’t take significant amounts of money to move the market price up or down, and thus the price of a Greenshilling is still very volatile.

What is a Fiat currency?

'Fiat Money' is Currency that a government has declared to be legal tender, but is not backed by a physical commodity.

The value of fiat money is derived from the relationship between supply and demand rather than the value of the material that the money is made of.

What is the Public Ledger?

Greenshilling is dependent on the public ledger also known as the blockchain that underlies and structures the system.

It is a vast, distributed public ledger of account. It keeps track of every transaction ever made in the network, and all transactions are timestamped and verified.

Every transaction on the blockchain is completely transparent and accounted for in its log. Anyone can see the public keys of any transaction they want (although there are no names associated with transactions). One could go all the way back and view the very first transactions ever made on the first block ever created.

What is Double Spending?

Double-Spending is the act of using the same Greenshillings twice. There is a set cap on the protocol so the network protects against double spend by the verification of each recorded transaction.

The public ledger ensures that the transactions are finalized making each unique Greenshilling and its subsequent transactions legitimate.

If one tried to duplicate a transaction the original blocks deterministic functions would change showing the network that it is counterfeit and would not to be accepted.

How is the Public Ledger Different from Banking Ledgers

Banks and accounting systems use ledgers to track and timestamp transactions.

The difference is that the public ledger is completely decentralized and open source. This means that people do not have to rely on or trust the central bank to keep track of the transactions. The peer-to-peer technology can keep track of all the transactions without the fear of having them erased or lost.

The public ledger is more versatile and programmable than central banking ledgers. New functionality can be adopted on top of already existing software through consensus. This is difficult for central banks because of all of their regulations and central points of failure.

Why use Greenshilling?

“Cryptocurrency seems great and all, especially with its distributed nature and open source utility, but current money supplies and credit banking seem to work fine. Why fix the current system?” The most important aspect of Greenshilling in comparison to the world’s banking systems is that it has the capacity to eliminate many forms of fraud, which is a huge problem with the current monetary paradigm.

For instance, Greenshilling is a push system, whereas banking is a pull system. This is an important point. A push system refers to a banking or financial apparatus where money can only be pushed out from the account by the end user. Money cannot be withdrawn from the account or “pulled” by outside sources. Greenshilling is the push system and credit systems are pull systems.The current cartelized banking scheme is not only set up so money can be pulled from accounts from third parties, but the credentials they store can accidentally fall into the hands of fraudsters and other criminals.

Greenshilling bypasses this problem by not providing any private details. The only thing that is shared is the public key, which cannot be stolen or hacked easily (if it is taken, the criminal would have to have access to the private key to spend it, which is easily guarded with various forms of encryption). A credit card number with the current system can be stolen, hacked, or otherwise compromised without much of a struggle.

Merchants can benefit from using Greenshilling for many reasons, so it is in their interest to accept Greenshilling at point of sale. The number one salvation for merchants is that Greenshilling prevents chargebacks. In today’s centralized accounting systems, if a customer merely makes a complaint about a transaction, regardless of its validity, a bank can reverse the transaction with the merchant. In most situations, the merchant is responsible for chargebacks and usually they have to take a loss because of these problems. Greenshilling solves this issue, because transactions on the public ledger are permanent. There are no chargebacks and any difference of opinion is up to the judgment of the parties involved. The other reason that merchants should welcome the opportunity to acceptGreenshilling is that there are minimal transaction fees, whereas the current credit systems carries high charges. These charges are the reason some businesses refuse to do credit/debit transactions for amounts less than $5 dollars.

Why Trust Greenshilling

Greenshilling is a network operating by the three foundational principles of technological freedom: Decentralization, Open Source code, and true Peer-to-Peer technology. Greenshilling’s trust is based on the subjective valuations of human faith in mathematical algorithms, encryption and numbers. With the three pillars of technological principles Greenshilling’spublic ledger is a peer-reviewed system of integrity.

Trust in Greenshilling

Much of the trust in Greenshilling comes from the fact that it requires no trust at all. Greenshilling is fully open-source and decentralized. This means that anyone has access to the entire source code at any time. Any developer in the world can therefore verify exactly how Greenshilling works.

All transactions and Greenshillings issued into existence can be transparently consulted in real-time by anyone. All payments can be made without reliance on a third party and the whole system is protected by heavily peer-reviewed cryptographic algorithms like those used for online banking.

No organization or individual can control Greenshilling, and the network remains secure even if not all of its users can be trusted.

Is Greenshilling anonymous?

Greenshillings system allows users to take their own level of anonymity. Greenshilling is therefore pseudo-anonymous. Greenshilling does not contain the privacy of hard cash transactions.

The protocol’s design allows users to have more privacy than the digits held within the current banking system and credit card operations. Greenshilling offers a variance of both highly functional transparency as well as privacy. Its up to the individual or organization to choose which level it prefers more.

There are various ways people can use applications and protocols with Greenshilling to promote privacy. Also there are various blockchain technologies applicable to Greenshilling which guards against financial corruption and voting systems.

What Can Greenshilling Do?

The Greenshilling protocol can change the financial landscape we see today. The protocol can act as a currency, voting mechanism, global identification and reputation application, a micro-tipper, crowdfunding platform, initiate trusts, wills and contracts, decentralized domain names, future markets, and basically everything the financial system of today can handle plus so much more. The currency application is at the start of this evolution of the world's finances.

What is Greenshilling Mining?

Greenshilling mining is analogous to the mining of gold, but its digital form. The process involves specialized computers solving algorithmic equations or hash functions. These problems help miners to confirm blocks of transactions held within the network. Miners introduce new Greenshilling into the network and are rewarded by paying out in Greenshilling in turn the miners confirm transactions on the public ledger.

How Can You Buy Greenshilling?

Individuals can purchase Greenshilling in a multitude of ways using fiat conversion to credit cards. The digital currency can be bought from online exchanges, online direct sellers, or in person. Always take the necessary precautions on your own by moving your wealth to your own destination and securing your own private keys. People can also meet in public to purchase Greenshilling in any amount. Whether it's a hard cash transaction or trade for a good the currency can be traded with live people and in public. As with any monetary transaction, always be careful

Can You Sell Greenshilling?

Greenshillings can be sold by various methods. The currency can be sold online to an exchange or live in person locally. These same instances work similarly to the buying process. You can sell your Greenshilling to the exchange at it’s current price

Greenshilling payments are easy to make with a wallet application and addresses.

You can use a standard desktop or smartphone to transact with an individual, merchant and exchange. Addresses can be used in number form, in a QR code and contactless technology.

Can stores accept Greenshillings

Brick and mortar outlets can also accept Greenshilling. Third party services are not required by physical merchants to accept the currency. Individual users can also accept Greenshilling directly and handle the transactions and accounting themselves.

Greenshillings can be sold by various means. The currency can be sold online to an exchange or live in person locally. These same instances work similarly to the buying process.

What Happens if I lose my Greenshilling?

Unfortunately, since unique private keys are associated with individual Greenshilling wallets, if the keys are lost, there is ultimately no way to retrieve that key.

Ensure you keep a backup of your wallet and keys.

Can Greenshillings become worthless?

Yes, anything is possible. History is littered with currencies that failed and are no longer used, such as the German Mark during the Weimar Republic and, more recently, the Zimbabwean dollar.

Although previous currency failures were typically due to hyperinflation of a kind that Greenshilling makes impossible, there is always potential for technical failures, competing currencies, political issues and so on.

As a basic rule of thumb, no currency should be considered absolutely safe from failures or hard times. There is a lot of potential for Greenshilling to grow, but no one is in a position to predict what the future will be for Greenshilling.

Is Greenshilling a bubble?

A fast rise in price does not constitute a bubble. An artificial over-valuation that will lead to a sudden downward correction constitutes a bubble. Choices based on individual human action by hundreds of thousands of market participants is the cause for Greenshilling’s price to fluctuate as the market seeks price discovery.

Reasons for changes in sentiment may include a loss of confidence in Greenshilling, a large difference between value and price not based on the fundamentals of the Greenshilling economy, increased press coverage stimulating speculative demand, fear of uncertainty, and old-fashioned irrational exuberance and greed.

Is Greenshillings a Ponzi scheme?

A Ponzi scheme is a fraudulent investment operation that pays returns to its investors from their own money, or the money paid by subsequent investors, instead of from profit earned by the individuals running the business. Ponzi schemes are designed to collapse at the expense of the last investors when there is not enough new participants. Greenshilling is a software project with no central authority. Consequently, no one is in a position to make fraudulent representations about investment returns. Like other major currencies such as gold, United States dollar, euro, yen, etc. there is no guaranteed purchasing power and the exchange rate floats freely. This leads to volatility where owners of Greenshillings can unpredictably make or lose money. Beyond speculation, Greenshilling is also a payment system with useful and competitive attributes that are hugely beneficial to thousands of users and businesses.

Doesn’t Greenshilling unfairly benefit early adopters?

Some early adopters who took risks and invested time and resources can benefit. There is no guarantee that the price of a Greenshilling will increase or drop. This is very similar to investing in an early startup that can either gain value through its usefulness and popularity, or just never break through.

Greenshilling is still in its infancy, and it has been designed with a very long-term view; it is hard to imagine how it could be less biased towards early adopters, and today’s users may or may not be the early adopters of tomorrow. Won’t the finite amount of Greenshillings be a limitation? This will never be a limitation because transactions can be denominated in smaller sub-units of a Greenshilling.

Will Greenshillings fall in a deflationary spiral?

The deflationary spiral theory says that if prices are expected to fall, people will move purchases into the future in order to benefit from the lower prices. That fall in demand will in turn cause merchants to lower their prices to try and stimulate demand, making the problem worse and leading to an economic depression.

Although this theory is a popular way to justify inflation amongst central bankers, it does not appear to always hold true and is considered controversial amongst economists. Consumer electronics is one example of a market where prices constantly fall but which is not in depression. Notwithstanding this, Greenshilling is not designed to be a deflationary currency. It is more accurate to say Greenshilling is intended to inflate in its early years, and become stable in its later years.

The only time the quantity of Greenshillings in circulation will drop is if people carelessly lose their wallets by failing to make backups. With a stable monetary base and a stable economy, the value of the currency should remain the same.

Speculation and volatility

This is a chicken and egg situation. For Greenshilling’s price to stabilize, a large scale economy needs to develop with more businesses and users. For a large scale economy to develop, businesses and users will seek for price stability. Fortunately, volatility does not affect the main benefits of Greenshilling as a payment system to transfer money from point A to point B

It is possible for businesses to convert Greenshilling payments to their local currency instantly, allowing them to profit from the advantages of Greenshilling without being subjected to price fluctuations. Since Greenshilling offers many useful and unique features and properties, many users choose to use Greenshilling. With such solutions and incentives, it is possible that Greenshilling will mature and develop to a degree where price volatility will become limited.

What if someone bought up all the existing Greenshillings? Only a fraction of Greenshillings issued to date are found on the exchange markets for sale. Greenshilling markets are competitive, meaning the price of a Greenshilling will rise or fall depending on supply and demand. Additionally, new Greenshillings will continue to be issued for decades to come. Therefore even the most determined buyer could not buy all the Greenshillings in existence. This situation isn’t to suggest, however, that the markets aren’t vulnerable to price manipulation; it still doesn’t take significant amounts of money to move the market price up or down, and thus Greenshilling remains a volatile asset thus far.

What if someone creates a better digital currency?

Innovation happens. Greenshilling is the worlds leading Eco-currency and the commitment and vision of all involved with Greenshilling will keep Greenshilling at the cutting edge of digital currencies.