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2011/05 Bitcoin P2P Currency: The Most Dangerous Project

2011/05 Bitcoin P2P Currency: The Most Dangerous Project
Solid discussions of this piece on BoingBoing.net, Hacker News, Slashdot and Reddit. Rob Tercek has a follow up to this piece here. by Jason Calacanis and the LAUNCH team A month ago I heard folks talking online about a virtual currency called bitcoin that is untraceable and un-hackable. Folks were using it to buy and sell drugs online, support content they liked and worst of all -- gasp! -- play poker. Bitcoin is a P2P currency that could topple governments, destabilize economies and create uncontrollable global bazaars for contraband. I sent the 30 or so producers of my show This Week in Startups out to research the top players, and we did a show on Bitcoin on May 10. After month of research and discovery, we’ve learned the following: 1. What Are Bitcoins? 1. Each owner transfers the coin to the next by digitally signing a hash of the previous transaction and the public key of the next owner and adding these to the end of the coin. The benefits of a currency like this:

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L020: Is Bitcoin the Wikileaks of Monetary Policy? - Launch - Discuss this post on Hacker News Calacanis primer on bitcoin By Robert Tercek Cynics make the argument that complaints about the loss of privacy in the digital domain are pointless. "If you use a credit card or an ATM machine, you're already living in the fishbowl," the wags say. Fair point.

Is Bitcoin the most dangerous open source project ever? Bitcoin "can be really dangerous to social news ecosystem" So you agree with the article, but you don't want people to talk too much about it on HN? I think it is a very weird position to hold. Imagine there was a very dangerous disease, should it be discussed openly in physician congresses? Yes? Same here (HN is the hackers congress, right?) 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. 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.

Peer-to-peer currency takes banks out of the picture - Springwise Gain instant and exclusive access to over 5,000 of the most creative ideas, innovations and startups on our database and use our smart filters to take you direct to those that are most relevant to your industry and your needs. Not interested? You can still browse articles published in the last 30 days from our homepage and receive your daily and weekly fix of entrepreneurial ideas through our free newsletters.

Interview: How Bitcoin Created a Decentralized Crypto-Currency Bitcoin is an open source, peer-to-peer electronic currency created by Satoshi Nakamoto and maintained by a small team of developers. As part of what's turning into an ongoing series on the distributed Web, I talked to contributor Gavin Andresen about how the software works. This is a technical overview. If you're interested in an economic or political look at the software, you can read the Wikipedia entry or Niklas Blanchard's essay on the project. Klint Finley: Could you give us a brief overview of what Bitcoin is for the unfamiliar? Gavin Andresen: Sure.

100 Very Cool Facts About The Human Body The Brain The human brain is the most complex and least understood part of the human anatomy. There may be a lot we don’t know, but here are a few interesting facts that we’ve got covered. Nerve impulses to and from the brain travel as fast as 170 miles per hour. Bitcoin and Disruptive Currencies Ars Technica reported earlier this month that Bitcoin, the open source cryptographically secured alternate currency, was back to trading at 9 US dollars per bitcoin. The currency had experienced a bubble last year, trading as high as almost 30 USD before crashing spectacularly. Since then, however, it has regained stability and traded within a fairly small range around 5 USD. If Bitcoin can keep its stability, what might it mean for disruptive competition? Bitcoin is an online currency, but not one that should be confused with prior attempts at the idea.

lines.com Explains Why It’s Suing Facebook over ‘Timeline’ The problem with suing a company like Facebook is that sometimes people don’t travel much beyond hearing the words “suing a company like Facebook” before getting defensive about their chosen social network. No wonder, then, that Timelines.com is taking to the Internet to explain why it’s trying to defend itself from being crushed by the social networking giant. For those tuning in late, the Chicago-based website is suing Facebook over trademark infringement concerning Facebook’s new historical update tracking feature. On its website, Timelines makes its argument very clear: “[We] aren’t against Facebook launching this new service.

Une FAQ Bitcoin Updated 9/30/2013 -- © Christian Wagner Short Version 1) Should I buy Bitcoins? Bitcoins: The Taxless Currency In today’s economy, the value of the dollar is weaker than ever and the thought of a digital currency is becoming more of a reality with the recent introduction of bitcoins. Bitcoins can be compared to cash, but cash is limited to physical exchange, where as bitcoins can be sent throughout the Internet. Today there are more than 6.3 million bitcoins in existence and this number continues to grow. So, how are bitcoins used and how have they become a currency that can be used like dollars, but is tax avoidable?

Bitcoins: the peer to peer currency « Make Wealth History A couple of years ago I read a book called The End of Money, by Thomas Greco. In it, the author predicted that at some point, some internet application would do for money what Skype has done for the telecommunications industry. It’s only a matter of time before someone blows the whole thing open, re-writes the rules and changes the game for good. It’s happened already for communications, the music industry, software monopolies, and to my disappointment, book retail. So why not money? Money, after all, is whatever we say it is.

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