background preloader

Understand Bitcoins

Facebook Twitter

Tilikum Investments Marc Andreesen on Bitcoin. Bitcoin Explained. Michael Goldstein Explains How The Bitcoin Block Chain Enables Smart Property. Cognitive biases that make people skeptical towards Bitcoin. What Is Bitcoin and What Can I Do With It? I think there is a lot of odd questions and misinformation about bitcoins that people still don't understand. 1.

What Is Bitcoin and What Can I Do With It?

While exchanges have been hacked (think of these like stock trading companies but they only buy and sell bitcoins) the base protocol is still secure and is in itself a form of security. 2. If you want you can keep your bitcoin wallet (your bitcoin bank account) stored locally. For the security crazy this might mean keeping a USB stick with a minimal linux install should they want to access their account. 3. 4. How Bitcoin Works Under the Hood. The Beginners Guide To Bitcoin – Everything You Need To Know - Monetarism - A UK Money and Personal Finance Blog.

In February 2013, version 0.8.0 of Bitcoin was released.

The Beginners Guide To Bitcoin – Everything You Need To Know - Monetarism - A UK Money and Personal Finance Blog

This virtual payments system is the financial equivalent of Latin, the language with no native speakers. Bitcoin rises - Opinion. About a year ago I wrote an article, published on this site, titled "Understanding Bitcoin".

Bitcoin rises - Opinion

The Demographics Of Bitcoin. With the growing popularity and perhaps relevance of a globally decentralized currency system in a world adrift in fiat devaluation death-matches, it is perhaps interesting to understand just who these Bitcoin'ers are?

The Demographics Of Bitcoin

The ongoing survey of Bitcoin users (here) has some intriguing results already: The 'average Bitcoin user' is male (96%), 32.7 years old, libertarian / anarcho-capitalist (37%), non-religious (61%), with a full time job (43%), and is in a relationship (56%). The biggest motivation for new users are curiosity, profit, and politics; and 39% of users do not drink, smoke, gamble, or take drugs. Just over half of users have mined bitcoins and the greatest community fear for Bitcoin is “regulatory/legal intervention” followed by ”reputation problems”. BitCoin: The Currency Of The Future? This week, BitCoin (BTC), the virtual cryptocurrency that is not supported by any national bank or government, reached an all-time trading record, selling at $33.22 for a single BTC.

BitCoin: The Currency Of The Future?

Kim Dotcom’s cloud hosting website Mega has recently started accepting BitCoins as a form of payment, following the example set by WordPress, Reddit and countless other online businesses. On Life and Liberty - Erik Voorhees: Bitcoin - The Libertarian Introduction. ***Originally published in Freedom's Phoenix Magazine - April 13, 2012***Republish, copy, and distribute at will.

On Life and Liberty - Erik Voorhees: Bitcoin - The Libertarian Introduction

What it is, how it's used, and why you should care. Erik Voorhees - April 11, 2012 "When a state currency is challenged, the state itself is challenged, How bitcoin transaction works. Bitcoin & The End of State-Controlled Money: Q&A with Jerry Brito. Student startup storms cyberspace. A student start-up launched in July gives consumers easy access to new digital currency that is quickly spreading across cyberspace.

Student startup storms cyberspace

Thomas McCabe ’12 founded this summer after struggling to find websites that sell Bitcoins, a digital currency created in 2009 that people can use to anonymously trade and buy products from select companies. McCabe said traffic on the website is increasing daily — the site earned over $8,500 in revenue on Monday alone — but the company could potentially face restrictions from the U.S. government. Did A Reporter Just Solve A Bitcoin Mystery? : Planet Money. Hide caption.

Did A Reporter Just Solve A Bitcoin Mystery? : Planet Money

The Rise and Fall of Bitcoin. In November 1, 2008, a man named Satoshi Nakamoto posted a research paper to an obscure cryptography listserv describing his design for a new digital currency that he called bitcoin.

The Rise and Fall of Bitcoin

None of the list’s veterans had heard of him, and what little information could be gleaned was murky and contradictory. In an online profile, he said he lived in Japan. His email address was from a free German service. Google searches for his name turned up no relevant information; it was clearly a pseudonym. Will Bitcoins join the ranks of US dollars, Euros and other currencies? I first heard about Bitcoins seven months ago on the radio.

Will Bitcoins join the ranks of US dollars, Euros and other currencies?

I understood them to be some sort of alternative, online “currency” but it sounded a little too esoteric to me at the time. A few months later I heard about them again in a story covering an underground website called Silk Road that sold drugs, including illicit drugs, and people used Bitcoins to pay for these drugs. Bitcoins were real and being used to buy real products. In a day and age when people are starting to question the true interests of the government and corporations and banks, especially in light of the Occupy protests, it’s no wonder that Bitcoins were created. To pay for something over the internet usually requires the backing of a bank or some other centralized financial institution. Why most people refuse to accept and understand Bitcoin. - Bitcoin Community. The answer is simple. It is because most modern people are prisoners of The Cave. ( ) How is this related to biticoin (and gold standard) ? The Richter Report explains here Quote In terms of their understanding of the nature of money, most people in our society are exactly like the prisoners described by Plato in his "Allegory of the Cave.

" Physical Bitcoins by Casascius. So what are the odds of bitcoins becoming widespread and is it worth it to buy them now? What is Bitcoin? - We Use Coins. THE BITCOIN BUBBLE. If you haven't already heard about bitcoin, the first popular cypto-currency, you soon will. The idea for the currency is simple. Bitcoin. Virtual currency: Bits and bob. Bitcoin: the hacker currency that’s taking over the web. Global, private and untraceable, it’s the monetary system of choice for libertarians, geeks, businesspeople and, apparently, drug kingpinsEarlier this week, two senators sent a letter to the US Attorney General, copied to the Drugs Enforcement Agency, alerting them to the existence of an underground website called Silk Road.

Like a lawless eBay, Silk Road users can, according to the senators, “freely purchase and sell illegal drugs . . . from cocaine and heroin, to ecstasy and marijuana”. For this they are using the digital currency Bitcoin.Created in 2009 by an anonymous Japanese computer science student using the pseudonym Satoshi Nakamoto, Bitcoin was initially adopted by hackers as a means of bartering services. Now it is fast becoming the unofficial currency of the web.Anyone can buy virtual “coins” at a variety of online exchanges, using major global currency – but they aren’t just used for drugs.

Unlike traditional national currencies, Bitcoin has no central issuing authority.