Bitcoin’s Collusion Problem | Bottom-up Yesterday I questioned whether we should expect demand for Bitcoins to be stable over the long run. Today I want to look at the supply side. A constrained supply of money is important to a currency’s stability. One of Bitcoin’s key selling points is that the number of Bitcoins issued will never exceed 21 million. But this promise isn’t credible. To understand why, we need to dig a little bit into how the protocol works. The Bitcoin peer-to-peer network can be thought of as a giant, shared accounting ledger. The system has a clever incentive system: each node is allowed to insert a fixed reward (currently 50 Bitcoins) for itself into the block it is working on. The limit is a social convention baked into the BitCoin software. If a group of nodes colluded to change the rules (say, awarding themselves 100 Bitcoins rather than 50 for “winning” a round), the result would be a “fork” of the Bitcoin network.
Y)^_°(V) - How to get started using your GPU to mine for Bitcoins on Windows (In a slight departure from my normal content…) Money for only running your computer!? It's more likely than you might think! No referral pyramid scam shit, you can make as much money as you have computing power to devote. ***NOTE: Since the difficulty is very high, unless you have an ASIC mining device and/or a very significant aggregate hash rate (over several TENS OF Ghash/sec or more) you are probably going to spend more on electricity than you can recoup in mined bitcoins, even when mining in a pool! (aside from the *possibility* of shortening the lifespan of your graphics card(s)/mining hardware). This post is aimed mostly at people who are already familiar with Bitcoin (Wikipedia page), and would like to get started using their GPU(s) to mine for bitcoins in a Windows environment. First of all, you are going to need a graphics card that supports CUDA and/or OpenCL; most graphics cards from the past 2-3 years will support this. 1. 2. 3. 4. (Recommended) 5. 1. 2. 3. 4. 5. -f 60
What Bitcoin Is, and Why It Matters Unlike other currencies, Bitcoin is underwritten not by a government, but by a clever cryptographic scheme. For now, little can be bought with bitcoins, and the new currency is still a long way from competing with the dollar. But this explainer lays out what Bitcoin is, why it matters, and what needs to happen for it to succeed. Where does Bitcoin come from? In 2008, a programmer known as Satoshi Nakamoto—a name believed to be an alias—posted a paper outlining Bitcoin’s design to a cryptography e-mail list. “Satoshi’s a bit of a mysterious figure,” says Jeff Garzik, a member of that core team and founder of Bitcoin Watch, which tracks the Bitcoin economy. How does Bitcoin work? Nakamoto wanted people to be able to exchange money electronically securely without the need for a third party, such as a bank or a company like PayPal. The Basics A Bitcoin address looks something like this: 15VjRaDX9zpbA8LVnbrCAFzrVzN7ixHNsC. Transferring Bitcoins Those clients make two checks on a transaction.
Y)^_°(V) - How To Set Up Pooled Bitcoin Mining In Windows (Please Note: This guide is mostly up to date…. syntax and URLs may not be 100% correct, please extrapolate if you have to and let me know in the comments so I can try to fix stuff… Updated 4-10-13) So, you've read my previous article about using your GPU to mine for bitcoins, but now that the difficulty is starting to get high absurd, you may be having a hard time generating any bitcions on your own (especially if you have non-specialized hardware). Never fear, there is a solution! NOTE: You really should take a look at my first article to make sure that your hardware is even capable of supporting opencl, and you should also be using the most recent version of the drivers for your particular graphics device. Also there is a bit of information on setting up Kiv's GUIMiner in my other guide, which will make setting up pooled mining even easier; I may further update this guide at some point. 1. 2. There are 4 boxes below threshold: Estimated, Unconfirmed, Confirmed, and Total reward. 3. 4.
U.S. Underwrites Internet Detour Around Censors Abroad The effort includes secretive projects to create independent cellphone networks inside foreign countries, as well as one operation out of a spy novel in a fifth-floor shop on L Street in Washington, where a group of young entrepreneurs who look as if they could be in a garage band are fitting deceptively innocent-looking hardware into a prototype “Internet in a suitcase.” Financed with a $2 million State Department grant, the suitcase could be secreted across a border and quickly set up to allow wireless communication over a wide area with a link to the global Internet. The American effort, revealed in dozens of interviews, planning documents and classified diplomatic cables obtained by The New York Times, ranges in scale, cost and sophistication. Some projects involve technology that the United States is developing; others pull together tools that have already been created by hackers in a so-called liberation-technology movement sweeping the globe. The Invisible Web Then there was Mr. Mr.
Raising the roof on debt Peter Schiff is one of the few non-biased investment advisors to have correctly called the current bear market before it began. Published time: May 17, 2011 18:38 Today the U.S. government officially borrowed beyond its $14.29 trillion statutory debt limit. And even though the Obama administration has assured us that accounting gimmickry will allow the government to borrow for another few months, the breach has given seeming urgency to Congressional negotiations to raise the debt ceiling. The ceiling was first imposed in 1917 as part of a deal that passed the Liberty Bond Act that funded America's entry into the First World War. The problem was that Congress never passed a law to prevent future Congresses from raising the ceiling. Despite the costs associated with the Korean War, the next increase did not come until 1954. Practically speaking, a ceiling that is raised automatically is no ceiling at all. A reduction in debt levels is good economics.
Tor (anonymity network) Tor (previously an acronym for The Onion Router)[4] is free software for enabling online anonymity and censorship resistance. Tor directs Internet traffic through a free, worldwide, volunteer network consisting of more than five thousand relays[5] to conceal a user's location or usage from anyone conducting network surveillance or traffic analysis. Using Tor makes it more difficult to trace Internet activity, including "visits to Web sites, online posts, instant messages, and other communication forms", back to the user[6] and is intended to protect the personal privacy of users, as well as their freedom and ability to conduct confidential business by keeping their internet activities from being monitored. An extract of a Top Secret appraisal by the NSA characterized Tor as "the King of high secure, low latency Internet anonymity" with "no contenders for the throne in waiting".[7] Alice's Tor client picks a random path to destination server Steven J.
Keiser Report — RT Programs Every week Max Keiser looks at all the scandal behind the financial news headlines. Max Keiser and Stacy Herbert discuss Americans as the big globalization losers, though they refuse to admit it because they’ve bought Hot Tips from Losers.... April 26, 2014 11:37 Markets! Every week Max Keiser looks at all the scandal behind the financial news headlines. April 24, 2014 11:30 Every week Max Keiser looks at all the scandal behind the financial news headlines. April 22, 2014 13:30 In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss American injustice in the age of the wealth gap and Weev's hedge fund... April 19, 2014 16:15 In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the American dream as being chained to the booth in the waffle house as cogs in... April 17, 2014 11:30 Max Keiser and Stacy Herbert discuss how ignorance could, indeed, be bliss for all of us if the ignorant would just STFU. April 15, 2014 13:30 April 12, 2014 13:30
Online Cash Bitcoin Could Challenge Governments, Banks Late last year, after WikiLeaks began releasing its trove of State Department cables, many individuals sought to show solidarity with the group by making a donation. They found, however, that many payment processors would not remit money to WikiLeaks, some say as a result of U.S. government pressure. PayPal even froze the group’s account so it couldn’t access funds already collected. “Hey, Visa, Mastercard, Paypal: It’s MY money,” media critic Jeff Jarvis tweeted at the time. Intermediaries as Choke Points Whether or not payment processors ought to be telling us how to spend our money online, the fact is they can. Online gambling and sports betting is perfectly legal in countries like the UK, Ireland and Australia, and a resident of the U.S. will have no problem reaching the websites of gaming sites from those countries. To transact online, you have to have an account with a third party like PayPal that you trust will follow your payment instructions. True Digital Cash
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