PRZOOM - /newswire/ -
Spring Hill, FL, United States, 2013/11/21 - One of the misconceptions about digital currency is that it’s a cloak and dagger underworld currency for illegal activity due to people being 100% anonymous - MegaTokens.com / MegaHoot.net.
As the United States Senate mulls over the viability of digital currency what most are beginning to understand is that the mulling part is a testament of digital currency being more than something in the shadows. This senate hearing comes with heavy support from venture capitalist and the digital currency community who for the past 24 months have demonstrated how viable digital alternatives can be in today’s society.
One of the misconceptions about digital currency is that it’s a cloak and dagger underworld currency for illegal activity due to people being 100% anonymous. “Whenever I hear this I have to chuckle because there is no anonymity when it comes to digital currency,” said Anthony Demetroulakos CFO of MegaHoot. In the case of Bitcoin its numbers, code are traceable, this is how the authorities were able to bring down Silk Road. It wasn’t because transactions or accounts were hidden it was because no one was monitoring these transactions, now with regulation in place it will change the monitoring part of it.
In the case of MegaTokens those are private transactions that are monitored on the MegaHoot network. This gives some assurance that members are protected against fraud or losing their MegaTokens if they should lose their mobile phone, basically providing a seamless and secure environment for members who use MegaTokens. As Bitcoin gains mainstream notoriety with the slew of media attention surrounding the digital currency, it will bring with it more transparency and regulation leading to a free flowing system that allows people globally to use Bitcoins or MegaTokens for more than digital transactions.
“We see the MegaToken as more of a commodity, the amount of Platinum MegaTokens that are mined is capped at 41 million and no more will be mined in the future. We see the strong potential for digital alternatives for transactions and believe that its only the first inning and the first batter is at the plate,“ stated Antony Demetroulakos, CFO of MegaHoot.
As digital alternatives continue to gain recognition for their value on a global scale, the demand will by default grow. As consumers of these digital alternatives feel that their accounts are safe and secure is as you will see them go more mainstream as the months go by, more vendors will accept them, more liquidity will come to the market and of course regulation will be in place.
MegaHoot (megahoot.com) is a social media network that is beyond a social network, it provides individuals, corporations, brands, sports and entertainment properties that join MegaHoots growing community with a forum that they can use to connect, market to, engage with other members in real time. MegaHoot is a free service that has a goal of giving all its members the social media tools that they need to expand their network both locally and on a global scale.
MegaTokens (megatokens.com) were created as a way for MegaHoot members to securely purchase a number of digital and non-digital products, services on the network. MegaTokens may be sold by third party vendors, there will be a list of approved third party vendors that are recognized by Megahoot.com to securely complete purchase transactions. Some third party vendors may offer to redeem MegaTokens at their own discretion, provide various physical products and services utilizing MegaTokens as payment, however all Mega Token purchases on Megahoot.com are nonrefundable.