Lifeboat Foundation

By Ryan Whitwam - ExtremeTech

The first thing to know about Bitcoin has nothing to do with how it works or what the current value of one is — of primary importance is the fanatical devotion Bitcoin users have to the mother of all cryptocurrencies. Many fans of Bitcoin promote the anonymous internet money at every turn, encouraging others to use it as a way to combat everything from government overreach to unethical banking practices. This is why cryptocurrencies are still a thing. Bitcoin enthusiasts scored a major victory when Overstock and Zynga started accepting Bitcoins recently, and that prompted one fan to start asking other internet companies what their plans were. Surprisingly, the one organization he got anywhere with was Google.

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Cory Doctorow — Boin Boing

Some Bitcoin enthusiasts have announced a new project called Bitcloud. The idea is something like the old Mojo Nation P2P architecture, in which individual Internet users perform tasks for each other — routing, storage, lookups, computation — in exchange for very small payments.

The Bitcloud protocol uses Bitcoin-style accounting to allocate those microtransfers, along with Bitcoin-style proof-of-work (they call it “proof-of-bandwidth”) and the authors suggest that the potential for profit by individual members will create enough capacity to replace a large number of centralized commercial services (“Youtube, Dropbox, Facebook, Spotify, ISPs”) with “distributed autonomous corporations,” that obviate the need for centralized control in order to supply anonymous, robust, free services to the public.

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By Gregory Wallace — CNN Money

Bitcoin just got another cheerleader.

The Sacramento Kings NBA team just became the first major professional sports franchise to accept Bitcoin, according to an announcement from payment processor BitPay.

Continue reading “NBA's Sacramento Kings cash in on Bitcoin” »

Andy Greenberg, Forbes Staff

When a group of cryptographers launched Zerocoin last year, they hoped their cryptography project could upgrade Bitcoin to be as anonymous as its most privacy-focused users have always wanted it to be. Now, after six months of waiting in vain for their code to be adopted by the Bitcoin community, they’re taking a bolder approach: Creating their own cryptocurrency, with privacy baked in from the start.

At the Real World Crypto conference Monday in New York, Johns Hopkins cryptography professor Matthew Green announced the next phase in the evolution of Zerocoin: creating an alternative cryptocurrency with an infrastructure independent of Bitcoin. The new coins, which Green says will go into circulation in May in some sort of beta program, will have their own exchange rate with existing currencies, their own “miners” producing new coins, and their own public ledger of transactions known as the “blockchain,” just as Bitcoin does. But unlike Bitcoin, Zerocoin is designed to be spent and received without revealing any trace of a user’s identity.

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By Ashlee Vance and Brad Stone — Bloomberg Businessweek

Joel Flickinger’s two-bedroom home in the hills above Oakland, Calif., hums with custom-built computing gear. Just inside the front door, in a room anyone else might use as a den, he’s placed a desk next to a fireplace that supports a massive monitor, with cables snaking right and left toward two computers, each about the size of a case of beer. Flickinger has spent more than $20,000 on these rigs and on a slower model that runs from the basement. They operate continuously, cranking out enough heat to warm the house and racking up $400 a month in electric bills. There isn’t much by way of décor, other than handwritten inspirational Post-it notes:

“I make money easily,” one reads. “Money flows to me.” “I am a money magnet.”

Flickinger, 37, a software engineer and IT consultant by trade, doesn’t leave the house much these days. He’s a full-time Bitcoin miner.

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Rob Wile — Business Insider

Last week we told you how Texas Rep. Steve Stockman (R-Texas) became the first sitting elected official in Washington to accept Bitcoin for his 2014 campaign against Sen. John Cornyn.

Dan Backer is going to make sure Stockman is not the last.

By Andrew Couts — Digital Trends

The rise of Dogecoin and the soon-to-launch Coinye West (yes, it’s named after the rapper) made it seem as though almost anyone can create a Bitcoin competitor. Now, with the launch of a clever and simple tool, that is actually true.

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by Ingrid Lunden — Tech Crunch

Gaming giant Zynga has started to accept the cryptocurrency as a payment option for those buying tokens for virtual goods on the web versions of FarmVille 2, CastleVille, ChefVille, CoasterVille, Hidden Chronicles, Hidden Shadows and CityVille. It makes Zynga the first major gaming company to accept Bitcoin.

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