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Archive for the ‘bitcoin’ category: Page 71

Feb 7, 2015

The Winklevoss Brothers on Gemini, the ‘NASDAQ of Bitcoin’

Posted by in category: bitcoin

— CoinDesk
Gemini
Cameron and Tyler Winklevoss aren’t shy about issuing bold predictions for Gemini, their recently revealed bitcoin exchange project.

Calling it the “NASDAQ or Google of bitcoin”, the president and CEO, respectively, believe Gemini will be the fully regulated, fully compliant and fully banked institution the US bitcoin ecosystem needs to develop to its full potential.

In a new interview with CoinDesk, the brothers – prominent bitcoin investors and two of the largest-known holders of bitcoin – opened up about Gemini, discussing why they feel the exchange can become the market leader in what has been an increasingly active part of the bitcoin space.

Read more

Feb 5, 2015

Bitcoin libertarians now desperately need the government’s help

Posted by in category: bitcoin

Quartz

Bitcoin’s ideological foe is becoming its saving grace.

To many Bitcoin enthusiasts, the decentralized currency’s allure was that it was designed to exist beyond the reach of government regulation. Free from central banks, its value wasn’t tied to government policies or geopolitical factors.

But now it seems the very regulation its creator or creators (since we don’t actually know who first minted Bitcoin) guarded against is what’s now buoying the cryptocurrency’s price. Read more

Feb 2, 2015

The Mathematical Wonders behind Bitcoin

Posted by in categories: bitcoin, business, education, encryption, finance, hacking, hardware, information science, innovation, privacy

Vires in Bitcoin
Bitcoin as a cryptocurrency has had its moments of strength and weakness. The technology behind bitcoins, however, is a different story. While skeptics don’t expect a lot from Bitcoin as an alternative currency because of its volatility, they do have high hopes for the technological innovation that powers it, believing that it can be further developed to create something much powerful than Bitcoin itself.

To those who know Bitcoin as a great way of transacting online, but don’t completely understand its dynamics, it’s time to get acquainted with the cryptocurrency’s mathematical wonders that make anonymous, faster, and cheaper transactions of moving funds on the internet possible.

Most of us know that Bitcoin uses the SHA-256 hashing algorithm, but hashing serves a different function and purpose from that of digital signatures. Hashing actually provides proof that a message has not been changed because running the same hash always generates similar result.

Any message, regardless of the size can go into a hash function where the algorithm breaks it down, combines the parts, and “digests” it until it makes a fixed-length outcome called “digest”. However, a good hashing algorithm possesses some critical characteristics, in which the same message always produces the same result, as mentioned above, and it only works in one direction.

Continue reading “The Mathematical Wonders behind Bitcoin” »

Feb 1, 2015

RoboCorp — Get ready for companies that run themselves

Posted by in category: bitcoin

by — Aeon

Distributed Autonomous Corporations (DACS)  will see cloud robots manage supply chains free from direct human supervision. Photo by Gallery Stock

It is January 2014 and at least 400 people are packed into a conference hall in Miami Beach. High-profile journalists stand against the walls. Powerful venture capitalists crouch in the aisles. Banking and finance gurus crane their necks from the back of the room. They’re waiting for one of the most anticipated presentations of the 2014 North American Bitcoin Conference. A massive surge in interest from the media has just pushed the price of a single Bitcoin to around $900, up nearly 800 per cent in three months. Bitcoin Miami is the largest ever conference of its kind. In this moment, the possibilities for Bitcoin seem limitless.

What appears to be a teenage boy mounts the stage. The crowd goes quiet. In fact, Vitalik Buterin – all acne-splotched face, spidery fingers and shining eyes – is just a few days shy of 20. He surveys the audience nervously for a moment, then kicks off his presentation by lauding the benefits of the Bitcoin payment network – its speed, security, economy and autonomy.

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Jan 26, 2015

Coinbase releases first licensed US Bitcoin exchange; Winklevoss twins gear up to do the same

Posted by in categories: bitcoin, cryptocurrencies, economics, futurism, innovation
Lifeboat


Armstrong and the Winklevoss twins have promising visions in securing Bitcoin exchange.

Bitcoin exchange Coinbase has brought innovation to the next level by opening the first ever licensed US Bitcoin exchange. Backed by $106 million from the New York Stock Exchange, banks, and venture-capital firms, Coinbase’s newly launched US exchange, said to be named Lunar, will provide greater security features; so as not to repeat the mistakes of Mt. Gox and Bitstamp, the former of which declared bankruptcy last year while the latter has sustained hacking attacks and is now back in the game.

Coinbase has already acquired licenses from 50% of the states in the country, which includes New York. The remaining 50% is still in the works and is necessary to complete to be able to provide full nationwide services. Also, Coinbase does not only look at expanding nationwide, it also looks at expanding worldwide in offering their Bitcoin-related services.

Of this plan, Coinbase CEO Brian Armstrong said: “Our goal is to become the world’s largest exchange”.

Continue reading “Coinbase releases first licensed US Bitcoin exchange; Winklevoss twins gear up to do the same” »

Jan 23, 2015

Bitcoin is just the first app to use blockchain technology (Understanding the value of the blockchain above and beyond bitcoin).

Posted by in categories: big data, bitcoin, business, complex systems, computing, disruptive technology, events

Quoted: “Looking at the misinformation, speculation, and confusion about bitcoin and blockchain technology: it’s the same conversation we had 20 years ago with the Internet. In the early 90s, the only way you could check your email was through a command line prompt. Then, web browsers were developed, small websites were created, and…well, as you can see, a lot has changed since. It’s looking as though bitcoin is just the first app to use blockchain technology, just like email was the first app to use the Internet.”

Read the article, and learn about the January 27, 2015, conference, here > http://radar.oreilly.com/2015/01/bitcoin-is-just-the-first-a…ology.html

Jan 22, 2015

How Technology Behind Bitcoin Could Transform Accounting As We Know It

Posted by in categories: bitcoin, complex systems, computing, cryptocurrencies, disruptive technology, economics, finance, governance

Quoted: “We’re not there yet, but in less than 10 years, I believe that the technology behind bitcoin will transform the accounting profession entirely. What is this technology? The blockchain. Let me set the scene by going over a few bitcoin related concepts before explaining why I think that the accounting profession will undergo a major disruption in the coming years.”

Read the article here > http://www.techvibes.com/blog/how-technology-behind-bitcoin-…;01-22

Jan 19, 2015

Bitcoins and Google Glass: Are They Heading For the Same Direction?

Posted by in categories: bitcoin, business, computing, cryptocurrencies, economics, engineering, entertainment, futurism, mobile phones, physics, robotics/AI, science

lifeboat-min
From Innovation to Oblivion…

The ups and downs of Bitcoin as an internet currency may be compared to the eventual demise of Google Glass due to its lack of purpose among consumers. While it does not significantly hold true for bitcoins, which apparently have a more supportive and enthusiastic followers, the path that these two have taken and will take may be substantially similar than we like to admit.

For one, Bitcoin’s staggering price decline in the recent days left some people wondering what road it will eventually take in the near future. Is it only taking a detour or is it bound for a dead end?

In the case of Google Glass, it received much attention during its inception a few years ago. It was even named by Time magazine one of the best innovations of 2012. However, despite the ingenuity behind a supposed-to-be groundbreaking invention, Google Glass lacked a tangible sense, its purpose incoherent.

Continue reading “Bitcoins and Google Glass: Are They Heading For the Same Direction?” »

Jan 6, 2015

Bitcoin’s Plummeting Crash and How it Affects Altcoins

Posted by in categories: bitcoin, business, cryptocurrencies, economics, finance

Bitcoin Price Crash

The volatile nature of bitcoins took its toll as recent turn of events saw the value plunging down to $274 as of this writing. CoinDesk Bitcoin Price Index reported that while it opened to $314.59 last Saturday, it was followed by a staggering $263.63 the next day.

The remarkable price drop got everyone talking and while it instigated worries among market watchers, some focused on its bright side, deeming it the perfect opportunity for buying. However, the question still lies out in the open unanswered. What caused the steep crash?

Theories suggest that it may have something to do with margin calls, which if accurate, already did something of this nature sometime in August last year. The holiday season is another factor that may have had affected the value of bitcoins inadvertently. This was the season where exchanges were few with all the banks closed, disabling traders from filling up their cryptocurrency accounts.

Continue reading “Bitcoin’s Plummeting Crash and How it Affects Altcoins” »

Dec 30, 2014

The Blockchain is the New Database, Get Ready to Rewrite Everything

Posted by in categories: architecture, automation, big data, bitcoin, business, complex systems, computing, cryptocurrencies, cyborgs, defense, disruptive technology, economics, education, encryption, engineering, finance, futurism, genetics, geopolitics, governance, government, hacking, hardware, human trajectories, information science, internet, law, military, mobile phones, nanotechnology, neuroscience, open access, open source, philosophy, physics, privacy, robotics/AI, science, scientific freedom, security, singularity, software, strategy, supercomputing, transhumanism, transparency

Quoted: “If you understand the core innovations around the blockchain idea, you’ll realize that the technology concept behind it is similar to that of a database, except that the way you interact with that database is very different.

The blockchain concept represents a paradigm shift in how software engineers will write software applications in the future, and it is one of the key concepts behind the Bitcoin revolution that need to be well understood. In this post, I’d like to explain 5 of these concepts, and how they interrelate to one another in the context of this new computing paradigm that is unravelling in front of us. They are: the blockchain, decentralized consensus, trusted computing, smart contracts and proof of work / stake. This computing paradigm is important, because it is a catalyst for the creation of decentralized applications, a next-step evolution from distributed computing architectural constructs.

Screen Shot 2014-12-23 at 10.30.59 PM

Read the article here > http://startupmanagement.org/2014/12/27/the-blockchain-is-th…verything/

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