What is the blockchain hard fork “missile crisis?”

Published on February 6, 2015 by Tim Swanson

Over the past couple of months there has been a number of discussions revolving around increasing the Bitcoin block size from its current 1 MB limit to 20 MB. One such plan is Gavin Andresen’s proposal (this is not to single him out as there are others with similar proposals). The code change itself is trivial, as it can simply be changed to any arbitrary number in a couple of keystrokes (for instance, see Vitalik Buterin discuss this at 14:15).

However, getting the majority of validating nodes, miners and the rest of the ecosystem on-board in a timely fashion is a very non-trivial matter.

Recall that, as illustrated by Organ of Corti and Dave Hudson, the average block size has increased over the past year to the point where we will likely max out at around 3 transactions per second with the current 1 MB limit. Since many of the investors, developers and entrepreneurs in this space would like to make Bitcoin ‘competitive’ to other payment platforms such as Visa, according to their view, this number eventually needs to increase by several orders of magnitude.

Read more: http://www.ofnumbers.com/2015/02/06/what-is-the-blockchain-hard-fork-missile-crisis/

Bitcoins and Gravy #49 Coinffeine – The Distributed Bitcoin Exchange!

Published on January 4th, 2015 by Bitcoins and Gravy

On todays show I fly all the way to Madrid, Spain and man are my arms tired! There I meet up with Alberto Gomez Toribio, the CEO of Coinffeine, an open source peer-to-peer (P2P) bitcoin exchange platform. Imagine Bitcoin jacked up on caffeine and thats Coinffeine. When Coinffeine launches youll be able to buy and sell bitcoins securely and anonymously without having to rely on a centralized exchange like MtGox or Bitstamp. It’s like BitTorrent for your bitcoins… plus a whole lot more!

What the #?!* is Bitcoin? | Jeremy Rubin | TEDxBeaconStreet

Published on Dec 23, 2014 by TEDx Talks

This talk was given at a local TEDx event, produced independently of the TED Conferences. Jeremy Rubin, Technical Director of the MIT Bitcoin Project, is going to explain ‘what the bleep’ Bitcoin is and why he sees it as one of the most interesting innovations in modern computer science. This eye opening talk from TEDxBeaconStreet won’t tell you what to think about cryptocurrency, but will leave you with the tools to parse this new and exciting landscape for yourself.

Hacker and MIT Junior Jeremy Rubin is known for his role in the MIT Bitcoin project, an initiative which offered every MIT undergraduate $100 in Bitcoin this fall and his award-winning project Tidbit, which is currently embroiled in a legal battle with the state of New Jersey.

Brock Pierce: Bitcoin might fail but the blockchain is here to stay – WIRED Retail talk

Published on Dec 9, 2014 by Wired UK

Bitcoin could end up being the MySpace of cryptocurrency, but the underlying technology powering new payment methods is here to stay. That’s according to Brock Pierce, a tech entrepreneur with his eyes firmly fixed on cryptocurrencies.

“By having a baseline protocol that allows you to innovate around finance, a lot of interesting things can happen,” he says. The protocol Pierce is talking about is the blockchain — a public, transparent ledger that gives a chain of transactions that is secure and reliable.

TEDxBermuda – The Future Will Be Decentralized by Charles Hoskinson

Published on Dec 4, 2014 by TEDx Talks

Tech entrepreneur and mathematician Charles Hoskinson says Bitcoin-related technology is about to revolutionise property rights, banking, remote education, private law and crowd-funding for the developing world.
Charles Hoskinson is Chief Executive Officer at Thanatos Holdings, Director at The Bitcoin Education Project, and President at the Hoskinson Content Group LLC.
Charles is a Colorado based technology entrepreneur and mathematician. He attended University of Colorado, Boulder to study analytic number theory in graduate school before moving into cryptography and social network theory.
His professional experience includes work with NoSQL and Bigdata using MongoDB and Hadoop for several data mining projects involving crowdsource research and also development of web spiders. He is the author of several white papers on the design and deployment of low bandwidth prolog based semantical web scraping bots as well as analysis of metamorphic computer viruses through a case study on Zmist.


Welcoming the Bitcoin challenge: the case for opening up currency markets to competition

Published by Sam Dastyari and Matthew Canavan on 26. November 2014 via theguardian.com

If competition is so good in markets for products, why shouldn’t we allow competition in markets for currency too?

The emergence of Bitcoins and other forms of digital currency could revolutionise money markets. If competition is so good in markets for products, why shouldn’t we allow competition in markets for currency too – why should governments have a monopoly?

Our current system of coinage and paper money has evolved from centuries of turbulence – could digital currencies provide the stability to prevent shocks in the future?

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Bitcoin Rising

“There can be only one”

Why network effects are really the tailwind behind Bitcoin’s rise, as the leader of crypto-currencies…

It’s no secret that I’m a Bitcoin bull, and as a result, the company I co-founded, Gyft, has been accepting Bitcoin as a payment option since May 2013 and was one of the first major acceptors of Bitcoin. We have really made Bitcoin usable at over 100,000 retail locations across the USA by tapping into the gift card infrastructure that already exists. We have avoided accepting any other alt coin for many reasons, and we have embraced and endorsed Bitcoin as a secure payment alternative to credit cards. I also often encourage other entrepreneurs to just focus on Bitcoin in building their crypto-related businesses for many of the reasons I will outline below.

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The Amazons of the dark net

Published by The Economist on Nov 1st 2014

THE first ever e-commerce transaction, conducted by students from Stanford and MIT in the early 1970s, involved the sale of a small quantity of marijuana. For decades afterwards, the online drugs trade was severely constrained by the ability of law enforcement to track IP addresses and the means of payment. The trickle of transactions threatened to become a flood with the emergence a few years ago of Silk Road, a drug-dealing site on the “dark net”. These e-depths cannot be reached through a normal browser but only with anonymising software called Tor. Buyers and sellers transact there pseudonymously in bitcoin, a crypto-currency.

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SibosTV Pannel on Virtual Currencies

Published on Sep 29, 2014 by SibosTV via YouTube

Always one of the most popular sessions of Innotribe @ Sibos, the future of money has never been more relevant to the industry. There are a variety of relatively new currencies that are being adopted by consumers around the world, from the virtual currencies such as Amazon coins and Facebook credits, through to the crypto currencies including Bitcoin and Ven.

Fidor Bank Partners With Kraken to Create Cryptocurrency Bank

Published by Drew Cordell on November 1, 2014

Fidor Bank, a German Web 2.0 bank, is partnering with Kraken to launch an initiative that will create a specialized bank for cryptocurrencies. The project aims to create a regulated and licensed financial service institution. The project will combine several products and services from various companies to offer a great variety of financial products and services that are geared towards cryptocurrencies.

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Is Bitcoin the Red Pill? Unplugging the Matrix

via Bitcoin Magazine

The premier decentralized digital currency Bitcoin has gained widespread mainstream attention over the last year. While many are embracing this new peer-to-peer payment system, others have voiced strong suspicion and offer stinging criticism. The divergence of opinion surrounding Bitcoin is a predictable pattern that happens with any major innovation. Silicon Valley tech entrepreneur and author Andreas Antonopoulos said, “Bitcoin and crypto-currencies in general don’t fit any of the traditional modes: not currency, stock or commodity, but [are] a new asset class”. He continued, “trying to figure out Bitcoin by fitting it into an existing paradigm misses the point. Cryptocurrencies broke the paradigm. It’s a new world.”

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The universe wants one money

Published on June 28 by Oleg Andreev

In this post I address issues of competing government currencies, competing private currencies, gold, silver, bitcoin and alternative “crypto-currencies”. We all know that variety and competion is a good thing. We all want slightly different things, value the same things differently or make different trade-offs. That’s why we have a wide variety of products, prices, quality, colors and materials on the market. Interestingly, money is different. We all want one single universal money. It may not be obvious to many people, so let me explain.

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The real value of bitcoin and crypto currency technology – Bitcoin Properly

Published on Oct 14, 2014 by intobitcoin via YouTube

In the coming years, the technology behind crypto currencies such as Bitcoin will inevitably and radically change the role of traditional trusted parties such as banks, accountants, notaries, and governments. The animated video about Bitcoin that was released today on http://bitcoinproperly.org is the first to specifically address the technology behind Bitcoin: the Blockchain. Within five minutes, it is explained how the essential functions of the “trusted third party” can be automatized through the Blockchain as well as what the implications of this are.