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HYPAY Money ™ | HYPAY Unit Payment System ™ Order food delivery and takeout online from thousands of restaurant menus No, bitcoin is not dead. But we've got some work to do. Bit Coin P2P: Hawala goes Digital and gets Faster || Yesterday We Said Tomorrow Bit Coin is a new revolutionary currency system which runs on the P2P (peer to peer) concept. This implies that there is no central authority controlling it and it is decentralized to the level that every node (i.e every computer on the network) plays a very significant role as a block. This ensures that transaction fees are very low and more significantly it cannot be blocked or tracked by the state unlike paypal etc. So, how does this work and how can it be a Hawala? Let me explain the basic elements involved it in very simple language. What is Hawala? In the hawala system, money is transferred via a network of hawala brokers, or hawaladars. What is a P2P system? Peer-to-peer (P2P) computing is way to partitions tasks or workloads between peers. A popular application of the P2P concept is Torrents client. What is Bit Coin? Although BitCoin does not say that is a Hawala system but it can be used like a Hawala system and it definitely has many merits over the conventional one.

CoinMap What Are Bitcoins and Why Should You Care? You've probably noticed people talking and tweeting endlessly about "Bitcoin" lately. The Economist finds it intriguing while GigaOM's Matthew Ingram points out several problems with it. It's even gotten the attention of economic heavyweight Paul Krugman, who has said it's like a reimplementation of the gold standard. So what the heck is it? What is Bitcoin?Bitcoin is a decentralized, anonymous, digital-only currency that's lately gotten a lot of public attention. RELATED: 11 Surprising Things You Have to Pay Taxes On How did this all start? Where do Bitcoins come from? You do this by using your computer to hunt for 64-digit numbers. The Bitcoin system is decentralized and programmed to generate a fixed number of Bitcoins per unit of computing time. How much are they worth? That's hardly the case now, though — at the time of writing, one Bitcoin is worth $135.30. Can I get real cash for my Bitcoins? How/why are they anonymous? For the especially paranoid, you can simply create a new wallet.

On the Potential Adoption and Price Appreciation of Bitcoin in the Long Run « cs702 (If you don’t know much about Bitcoin, please read the excellent introduction posted at the MIT Technology Review by Tom Simonite. You may also want to read the recent paper by Reuben Grinberg, a J.D. candidate at the Yale Law School.) [Update: The Economist has published a fantastic article.] In less than a year, the price of Bitcoin has increased from close to zero to nearly $9 as I write this (see below), prompting the digerati to question, only half-jokingly, if Bitcoin prices are in a “bubble” – see this post by economist Tyler Cowen for a typical example. For the underlying conventional wisdom is that use of Bitcoin is highly unlikely ever to expand beyond a few niche markets – e.g., idealistic hackers, online gamblers, and miscellaneous underground characters. The price of Bitcoin has risen from approximately zero to nearly $9 in less than a year. Hyperinflation led to the Zimbabwean dollar’s demise. This Zimbabwean dollar bill was issued shortly before the currency’s demise.

Cyprus: A Wake Up Call, Documentary by Bitcoin Magazine and GoldMoney By now, we are all aware of the financial calamity that has befallen Cyprus in the past three weeks. Since the deposit haircut was first announced and banks were shut down, many have lost their jobs as businesses suddenly find themselves without the means to pay anyone, others have seen their plans for retirement ruined, the economy has largely reverted to cash, and the banking sector, one of the two key pillars of Cyprus’ economy together with tourism, will never be the same again. We at Bitcoin Magazine and the team behind GoldMoney GoldMoney, however, have decided to actually go to Cyprus and see what the locals themselves have to say. The result: our first ever video co-production, “Cyprus – A Wake Up Call: Rethinking Money“, a short 15-minute documentary produced by Mihai Alisie from Bitcoin Magazine, Paul Buitink and Ian Jessep from GoldMoney, and Trace Mayer, who has participated in both organizations.

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