Lifeboat Foundation

Quoted: “At the event, CEO Bill Barhydt said: “Our mission with Abra is to turn every smartphone into a teller that processes withdrawals. This is not just another bitcoin app. The wallet is a full-fledged digital asset management system, and you don’t have to understand it.”

Use of the application is straightforward and relies on a network of people around the world who act as tellers, charging small fees to help people transfer money abroad. A user can deposit funds into his or her account using a debit card or by meeting up with a teller in person and handing them cash. Then those funds can be instantly — the power of Bitcoin — transferred anywhere in the world. The person receiving the money has only to find a teller, show that he or she is the recipient of the funds, and exchange the digital cash (denominated in USD) back for their local currency.”

Read the article here > https://bitcoinmagazine.com/19490/abra-announced-launch-fest…d-bitcoin/

Quoted: “Blockchains are thus an intriguing model for coordinating the full transactional load of any large-scale system, whether the whole of different forms of human activity (social systems) or any other system too like a brain. In a brain there are quadrillions of transactions that could perhaps be handled in the universal transactional system architecture of a blockchain, like with Blockchain Thinking models.”

Read the IEET brief here > http://ieet.org/index.php/IEET/more/swan20150217

The recently concluded Bitcoin & the Blockchain Summit in San Francisco on January 27 came up as a vivid source of both anxiety and inspiration. As speakers tackled Bitcoin’s technological limits and possible drawbacks that can be caused by impending regulations, Bitcoin advocate Andreas Antonopoulos lifted up everyone’s hope by discussing how bitcoins will eventually survive and flourish. He managed to do so with no graphics or presentations to prove his claim, just his utmost confidence and conviction that it really will no matter what.

On the currency being weak

There have been statements about Bitcoin’s technology surviving, but not the currency itself. Antonopoulos, however, argues that Bitcoin’s technology, network, and currency are interdependent with each other, which means that one element won’t work without the other. He said: “A consensus network that bases its value on the currency does not work without the currency.”

On why Bitcoin works

Continue reading “Bitcoin’s Unique Features Lighten Up its Ambiguous Future” »

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” »

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

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?” »

Quoted: “IBM has unveiled its proof of concept for ADEPT, a system developed in partnership with Samsung that uses elements of bitcoin’s underlying design to build a distributed network of devices – a decentralized Internet of Things. The ADEPT concept, or Autonomous Decentralized Peer-to-Peer Telemetry, taps blockchains to provide the backbone of the system, utilizing a mix of proof-of-work and proof-of-stake to secure transactions.”

Read the article here > http://www.coindesk.com/ibm-reveals-proof-concept-blockchain…et-things/

Quote: ” Internet of Coins strives to create a decentralized, self-sustaining economy by implementing intersystemic connectivity sustained by a hybrid P2P meta-network. The system will help to leverage each of its participant’s strength in numbers hence supporting both the stability of alt coins and the cryptocurrency community as a whole. Internet of Coins had an official Whitepaper launch party on the 3rd of January at the Bitcoin Embassy Amsterdam. The Whitepaper is available for download on http://internetofcoins.org. Internet of Coins has partnered-up with security oriented cryptoexchange and service provider Bitalo since November of last year for continuous development and funding of the project. The open source system will soon be released for non-commercial purposes and be easily accessible to the public; supporting continuous decentralization and empowering the cryptocurrency ecosystem to evolve.”

Read the article here > http://www.baystreet.ca/viewarticle.aspx?id=424703

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” »