The Blockchain and the Rise of Networked Trust. “We are free to plant our own seeds; we don’t buy the brand nor the patent from a multinational.
In order to plant, we don’t need permission. Also, we don’t ask anyone’s permission for what to do with our money!” Santiago Zaz is an organic farmer from Argentina. Back in 2013, Zaz’s business became the first of its kind to accept bitcoin payments in the country. Like Zaz, many in his community don’t have the possibility of owning a credit card.
Linked-In, Sun Microsystems Founders Lead Big Bet On Bitcoin Innovation - MoneyBeat - WSJ. 37coins. State of Bitcoin Q3 2014: Ecosystem Maturing Amid Price Pressure. Download the full report in PDF form.
We are pleased to release our latest quarterly State of Bitcoin update. This article will run through some key findings from the new report, which focuses on data and events in the third quarter of 2014 up to the present day. Overall, this quarter could be characterized as a ‘Tale of Two Bitcoins’. On the one hand, significant bitcoin venture investment continued and much progress was made in furthering adoption, particularly in bitcoin’s use as a medium of exchange. Overstock.com Assembles Coders to Create a Bitcoin-Like Stock Market.
Coin design: Gail Anderson + Joe Newton Overstock.com is building software, based on the bitcoin digital currency, that could allow the big-name etailer to issue corporate stock over the internet, sidestepping traditional stock exchanges such as the NASDAQ and the New York Stock Exchange. The Salt Lake City-based company recently hired two of the developers behind CounterParty—an online project that helps individuals and businesses build all sorts of financial services atop the worldwide network of machines that drive bitcoin—and according to Overstock founder and CEO Patrick Byrne, these coders will help build “cryptosecurity” software that any company could potentially use to issue financial securities over the net. Mirroring bitcoin—known as a “crytocurrency”—these securities would be controlled by cryptographic algorithms running across computers spread across the globe, not by a central stock exchange.
Dark Markets Grow Bigger and Bolder in Year Since Silk Road Bust. In this concluding article of our series looking at Silk Road, a year after its closure, we examine the impact the Silk Road bust had on the dark markets and their most widely used digital currency, bitcoin.
The FBI may have taken down the Silk Road in spectacular fashion, slapping a seizure notice on the dark marketplace’s website and executing the high-profile public arrests of Ross Ulbricht, and later, bitcoin executive Charlie Shrem and digital currency trader Robert Faiella. According to academics and researchers studying dark web markets – which transact almost exclusively in bitcoin – listings for illicit goods and services have actually grown in the aftermath of the Silk Road bust. The rising popularity of such markets among drug vendors and customers means that illicit trade is set to expand even more, one researcher believes.
How Bitcoin's Banking Crunch is Holding Back US Startups. Following its May launch, QuickCoin captured attention with its novel integration of Facebook’s ubiquitous social media platform and simple bitcoin wallet technology – and the wider tech world took notice.
Soon, the self-funded company began to capitalize on its momentum, and on 11th August, QuickCoin had the first of its seed round capital wired to its corporate bank account at Wells Fargo. The celebration, however, was short-lived. As CEO Nathan Lands told CoinDesk: “Everything seemed fine, when all of a sudden I started noticing that some of our bills were bouncing because the debit card was being declined.”
Lands alleges that weeks of uncertainty ensued, and that in the end, QuickCoin’s bank account was closed. Bitcoin Could Transform Internet of Things into Vast Data Marketplace. As sportswear giant Nike expands its wearable technology applications, it will need more data to feed its gadgets and software.
To do that will be a simple matter in the future. A Nike executive will simply pull up a list of sensors operated by a private weather station, selecting the ones from which she would like to buy data. With a click, the executive will pay individual sensors – perhaps thermostats mounted in a Central Park pathway particularly favoured by joggers – for their data, using bitcoin. The weather sensors will be just one part of a future market filled with data collected by machines on the ‘Internet of Things’. Revolutionizing Crowdfunding. Bitcoin reports by banks. Bills.Ninja. Kryptoradio by Koodilehto. Bitcoin: the Stripe perspective. Many people have remarked that Bitcoin resembles the internet in the early 90s: we haven’t yet built the Googles that will make it accessible or the Facebooks and Netflixes that will make it broadly useful.
So it's an open question: what might a Bitcoin that's useful for the mainstream look like? Money Money has three functions: it’s a store of value (that is, somewhere you can put your life savings), a unit of account (that is, a measure of value), and a medium of exchange (a way to transport value). On the first two fronts, Bitcoin has shown promise in high-inflation economies, but it’s a much tougher sell for mainstream consumers in stable countries. Ripple Labs Unveils Proposal for New Smart Contract System. San Francisco-based Ripple Labs, a startup focused on building payment and digital assets networks, has unveiled a comprehensive plan for the development of a new smart contract system.
Called Codius, the proposed system will be programming language agnostic and will be able to work with existing monetary and contractual systems. There are a few projects in the works for building smart contract solutions that involve cryptography. But Ripple Labs‘ Codius effort is perhaps a framework that many in the cyrptocurrency space have been searching for in order to build asset structures. Sending Money Made Easy using Bitcoin. Bitcoin crowdfunder Swarm launches, raises $720,000 in 18 hours » CoinReport.
A case against Proof of Stake Velocity - Dogeconomist. Recently Proof of Stake (PoS) and subsequently Proof of Stake Velocity (PoSV) have been developed as an alternative to Proof of Work (PoW) mining.
But despite offering some serious improvements, economically these alternatives cannot (yet) compete with PoW mining. Proof of Work mining. Peercoin - Secure & Sustainable Cryptocoin. Introduction Peercoin (PPC) uses a novel, green, and very interesting method of network validation and mining.
Most alternative cryptocurrencies in existence are forks of Bitcoin with changed mining parameters or different mining algorithms. Miners maintain the network and check transactions, while spending a lot of energy on cryptographic brute force puzzles. Blockchain.info estimates that mid December 2013, Bitcoin mining takes up 22 million dollars or 150.000 megawatts of energy per day. Peercoin also started out as a Proof-Of-Work network. Exciting New Innovations From Reddcoin. " Originally appeared on The CoinFront - Your Online Bitcoin and Cryptocurrency News Authority. For all the latest developments follow us @TheCoinFront on Twitter. Reddcoin has been rising up in the altcoin ranks, due in large part to the innovation happening in the community.
The latest developments in the community include a new algorithm which they’re calling “proof of stake velocity”, and a “social wallet”, both unheard of developments from any other coin. Proof of Stake Velocity Proof of stake velocity is similar to proof of stake, in which, rather than mining new coins, the coins are “minted” by simply having the wallet program open and proving they hold a certain number of the given coin. Bitcoin Poorly Explained. The Five Biggest Threats Facing Bitcoin.
Any new and disruptive technology has its share of detractors who do their utmost to imbue the perceived threat with negative connotations. This has been happening for eons, and will continue until the end of time. The idea that people would need their own personal computer for work seemed ludicrous 50 years ago. Why would anyone need a device for making automated calculations? Today, though, it is almost impossible to function in modern life without using a PC. Bitcoin Storage.
In the Bitcoin world, half the wealth belongs to the 0.1 percent. From the Washington Post‘s Brian Fung, the key figures that everyone should know about Bitcoin’s inequality effect, which is worse than society’s general average inequality: “the drawback to consolidation is that those benefits will be concentrated in the hands of a relative few. That dynamic is already playing out among individual holders of Bitcoin, with a growing gulf between the Bitcoin-rich and the Bitcoin-poor.
According to Risto Pietilä, a Finnnish entrepreneur, the overwhelming share of Bitcoin wealth is held in just a few dozen wallets. Darkcoin, the Shadowy Cousin of Bitcoin, Is Booming. Illustration: WIRED Someone out there likes anonymous money. In only a month, the little-known bitcoin alternative known as Darkcoin has rocketed nearly tenfold in value–from around 75 cents a coin to almost seven dollars.
Its selling point: Darkcoin offers far greater anonymity than bitcoin, mixing up users’ transactions so that it’s incredibly difficult to trace a payment to a person. And though few have yet to accept that more-anonymous coin for actual goods and services, the promise of Darkcoin’s privacy features seems to have sparked a miniature boom. It’s one of the fastest growing among the wave of cryptocurrencies that’s followed bitcoin’s success, with the total value of its combined coins topping out at nearly $30 million.
The state of Bitcoin in Southeast Asia. Wayne is an analyst with Venture Scanner, a Silicon Valley-based firm that helps corporate innovation arms and investors identify innovation trends and opportunities, using a combination of big data and analyst insights. Bitcoin holds great promise in regions where banking and payment systems are not as developed, including Southeast Asia. A look at global venture capital flows into Bitcoin startups indicates that the majority of investments are being made into basic infrastructural projects like Bitcoin exchanges, which have received US$106 million in total global funding so far. I recently did research for a venture capital firm seeking to invest in Bitcoin startups in Southeast Asia (excluding Singapore), with a focus on exchanges given the stage of the industry in this region.
Here’s what I found out. Bitcoin adoption in Southeast Asia is speculative in nature. Bitcoin Is Hiring Lobbyists. Lets Talk Bitcoin.
MIT is about to become the world's first Bitcoin economy. Cognitive biases that make people skeptical towards Bitcoin. Mt Gox. Square Market Accepts Bitcoin. What the Fork was that? A forking post mortem. Why The Bitcoin Industry Must Recognise Its Responsibilities. In One Month, Everyone In Iceland Will Own Cryptocurrency. Bitcoins + Banks. UBS investment report declares bitcoin “Problematic currency, interesting payment system” Trojans and Bots. Hidden surprises in the Bitcoin blockchain and how they are stored: Nelson Mandela, Wikileaks, photos, and Python software. Bitwall. New? Start here! Understand Bitcoins. Satoshi Nakamoto.
Bitcoin businesses. Markets. Bitcoin ATM.
Wallets. Mining. Apps. The Future Of Money: Creating New Wealth, Work and a Wiser World: Amazon.co.uk: Bernard Lietaer. References in movies. Legal controversies. Gambling. Deviant Economy & Bitcoins. Hacks. Analysis. Visualisations, Infographics & Graphs. Advanced. Other interesting crypto currencies. Dodgecoin. Community & Events. Around the world. News.