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Cryptocurrency and Blockchain News and Discussions Thread

bitcoin blockchain P2P DAO decentralization digital currency cryptocurrency dogecoin Ethereum economics

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#21
Yuli Ban

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Countdown: Bitcoin Will Be a Legal Method of Payment in Japan in Two Months

Bitcoin will soon be legally recognized as a method of payment in Japan. The bill with provisions for cryptocurrencies has recently passed through the period of public consultation and will enter into force in April.
Bitcoin.com examines what the bill means and how it could affect Bitcoin with Special Counsel at Anderson Mori & Tomotsune, Ken Kawai, who has held numerous speaking engagements on the legal issues of virtual currency regulations in Japan.


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Nobody's gonna take my drone, I'm gonna fly miles far too high!
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#22
Yuli Ban

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Bitcoin is back above $1,000

Bitcoin is is back above $1,000 for the first time since January 5. The cryptocurrency was higher by 1.5% at $1,000.10 a coin as of 11:39 a.m. ET.
It's been a wild year for bitcoin. It began 2017 with a 20% rally during the first five days of the year before crashing 35% on concerns of a crackdown on trading in China.
Thursday's gains have extended bitcoin's winning streak to a sixth straight session as trade appears to be benefitting from uncertainty surrounding Donald Trump's presidency. The cryptocurrency has gained nearly 10% since Trump was inaugurated on January 20.

screen-shot-2017-02-02-at-113744-am.png


Nobody's gonna take my drone, I'm gonna fly miles far too high!
Nobody gonna beat my drone, it's gonna shoot into the sky!

#23
Yuli Ban

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Metaverse Identity on the Blockchain

As we begin to live and work in digital spaces, we must design an identity system that is safe, secure, and decentralized

In the beginning, the web was mostly read-only, so we were all mostly anonymous. We didn’t need to login when visiting sites, because it was just the information on the site we were after. And even today, logging into a website is a nuisance that we often do only to pay for something or enter a shipping or delivery address.
But that is all about to change: VR will let us work and play in places where there are many other people, so we will need to have a way to identify ourselves to those people. Some of them will be people we know, like our friends, family, and co-workers, but like in the real world, many of these will also be new people that we will meet for the first time in virtual spaces. We need a new kind of identity system that works for these new places, and we will need that identity system to be very well designed.
Social networks, like Facebook or LinkedIn, require that your identity be your real-life name, do not support any kind of anonymous access, and offer very little in the way of partial disclosure of identity. But this will not work in the Metaverse: When you are shopping in a store or walking down the street or going to a movie, would you be OK if everyone nearby could see your full legal name, floating above your head? Would you be OK if your kids had their names over their heads whenever they were outside? You probably would not, and you will not be OK with that being true in the Metaverse, where you will often be in ‘public’ around lots of other people you don’t know, and don’t necessarily want to disclose your identity to. Identity disclosure needs to be an individual choice, and anonymity needs to be one of the possible choices. Additionally, giving someone your name is an important social ritual, and should not be forced on us.


Nobody's gonna take my drone, I'm gonna fly miles far too high!
Nobody gonna beat my drone, it's gonna shoot into the sky!

#24
Maximus

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Bitcoin hits 3-year peak, nears record high on U.S. ETF approval talk

 

 

Digital currency bitcoin hit its highest levels in more than three years on Thursday and came within $3 of an all-time peak, on speculation that the first bitcoin exchange-traded fund (ETF) is set to receive approval from the U.S. financial regulator.Some analysts say regulatory approval of a bitcoin ETF would make the currency relatively attractive to the often more cautious institutional investor market.

 
Three ETFs that track the value of bitcoin have been filed with the U.S. Securities and Exchange Commission for approval.
 
The SEC will decide by March 11 whether to approve one filed almost four years ago by Cameron and Tyler Winklevoss. If approved, it would be the first bitcoin ETF issued and regulated by a U.S. entity.
 
"If approved this would certainly give a dramatic condoning of bitcoin by the authorities and powers that be," digital currency analytics firm Cryptocompare CEO, Charles Hayter, said.
 
"Perhaps key would be the institutional money which would flow into bitcoin. This would bring a certain amount of stability eventually but could see short-term exuberance by retail traders," he said.

 

Fears that Chinese authorities might seek to crack down on that country’s swiftly developing bitcoin ecosystem have abated.


If the world should blow itself up, the last audible voice would be that of an expert saying it can't be done. -Peter Ustinov
 

#25
wjfox

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For the first time, the price of bitcoin is the same as the price of gold

March 02, 2017

Two years ago, the value of Bitcoin slumped so badly that the digital currency was being written off as a failed experiment.

No longer. Bitcoin has charged back, and as of today (March 2), for the first time ever, one Bitcoin is worth more than a troy ounce of gold.

https://qz.com/92315...-ounce-of-gold/

 

 

9kmFZvQ.jpg


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#26
Yuli Ban

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Bitcoin crosses $1,800 for the first time adding $3 billion in market cap in just four days

  • Bitcoin crossed $1,800 for the first time on Thursday.
  • The rally in bitcoin has been driven by a number of factors such as positive noises from policymakers as well as the legalization of the cryptocurrency in Japan.
  • Debate over the future of the underlying technology of bitcoin continues.

Nobody's gonna take my drone, I'm gonna fly miles far too high!
Nobody gonna beat my drone, it's gonna shoot into the sky!

#27
eacao

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yeah, hearsay says the cyberattacks have caused this spike. Trading prices for just about every cryptocurrency has skyrocketed. Wish I had gotten in last December I really, really do. 


Only take advice from people who have what you want.
You don't decide your future. You decide your habits, and your habits decide your future.
Nearly all men can stand adversity, but if you want to test a man's character, give him power. - Abraham Lincoln.

#28
Yuli Ban

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Blockchain Could Help Us Save the Environment. Here’s How.

IN BRIEF
Blockchain, a distributed ledger system, is already being used in the music, autonomous vehicle, and supermarket industries. It also has the potential to contribute to a more sustainable environment.


WHAT IS BLOCKCHAIN’S POTENTIAL?
Blockchains are secure, transparent and efficient. They record transactions as ‘blocks’ on a synchronized and distributive ledger — each one has to be ratified by more than one party, and is tied to the previous block. This means that supply chains involving more than one transaction can be traced along their entire sequence. If they are integrated with smart contracts, they could cut out middlemen. The most well-known manifestation of the blockchain is cryptocurrencies like Bitcoin; however, as it is a transaction system, it can be used for far more than currencies.
Among this revolutionary system’s most promising applications, though, is its potential use in sustainable governance systems, as Guillaume Chapron has argued on Nature. She details four ways in which it could improve governance and sustainability...


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Nobody gonna beat my drone, it's gonna shoot into the sky!

#29
Yuli Ban

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Nobody's gonna take my drone, I'm gonna fly miles far too high!
Nobody gonna beat my drone, it's gonna shoot into the sky!

#30
Maximus

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First Quantum-Secured Blockchain Technology Tested in Moscow

 

 

Quantum computers pose a significant security threat to cryptocurrencies such as Bitcoin. Now a team of Russian scientists has worked out how to secure blockchains using quantum mechanics.

 
Interest in cryptocurrencies is currently at fever pitch with banks, businesses, and governments racing to understand the technology and how they can exploit it. As a result, the cryptocurrency market has begun to rise exponentially, and last month reached an astonishing $90 billion in market capitalization. Whatever happens next, cryptocurrencies look certain to play an increasingly influential role in the global financial system.
 
But there is a problem on the horizon. The big challenge with digital cash is to ensure that everyone uses it honestly. And there seems to be a pretty good solution in the form of blockchain technology. This guarantees honesty using cryptographic techniques that are widely thought to be unbreakable, except by brute force attacks.
 
And therein lies the problem. Brute force attacks are difficult for classical computers but will be easy for the next generation of quantum computers. The vast number-crunching power of these devices mean that as soon as they are available, cryptocurrencies will be suddenly more vulnerable to attack.
 
So a way of securing blockchain technology against quantum attack would be hugely useful.
 
Enter Evgeny Kiktenko at the Russian Quantum Center in Mosco and a few pals who have designed, built, and tested a quantum blockchain system in which the security is guaranteed by quantum mechanics. They’ve built it using a standard quantum cryptography system of the kind that is already commercially available.

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If the world should blow itself up, the last audible voice would be that of an expert saying it can't be done. -Peter Ustinov
 

#31
Maximus

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Charts: Bitcoin's Network is Objectively More Congested Than Ever

 

 

Born from math, bitcoin is a game of numbers.

 
Transactions have a size of ~500 bytes, blocks are limited to 1 MB and blocks can only be published after a puzzle is solved, a process that occurs via algorithm once every ~10 minutes.
 
The facts that underlie the current bitcoin protocol, set years before transactions could ever be called 'expensive', set the stage for the 'scaling debate' we've watched unfold ever since. Proposals have since developed to decrease transaction sizes, remove the block size limit and move transactions off of the main bitcoin blockchain, all in the name of boosting capacity.
 
Amid this indecision, the network itself has adapted.
 
As bitcoin miners can control the transactions they include in proposed blocks, and users can pay to have their transactions included, a fee market has developed to incentivize the inclusion of transactions into blocks.
 
Still, opinions on scaling solutions and alternate cryptocurrencies aside, objective data from the Q1 2017 tells a different story. Transaction numbers, block sizes and transaction fees on the bitcoin blockchain each reached all-time highs in the first quarter of 2017, proving the demand to use the network is now larger than ever.

 

Skyrocketing transaction fees and wait times can't be a good thing.


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If the world should blow itself up, the last audible voice would be that of an expert saying it can't be done. -Peter Ustinov
 

#32
Erowind

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Ultimately Maximus I see bitcoin being phased out as time goes on. It is a generation one cryptocurrency, currencies such as monero do decentralized transactions better and the current battle for smart contracts offers so much more than just transactions. Ethereum is the current leader on that front, but things can change. Honestly I don't even think we've seen the winner of the crypto wars yet, bitcoin and ethereum may end up nothing more than historical footnotes.


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Current status: slaving away for the math gods of Pythagoras VII.


#33
Maximus

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I've always thought Ethereum had much more long term potential for widespread adoption than Bitcoin, due to Ethereum having smart contracts. I don't know much about Monero, but I know it has ring signatures and stealth addresses, which make it ideal if you're looking for privacy. To me that sounds more like a niche market, something that would be attractive to those on the dark web. Cryptocurrency values have really skyrocketed this year; it'll be interesting to see how long this lasts. Who knows, crypto could just be the dot-com bubble of the 2010s.


If the world should blow itself up, the last audible voice would be that of an expert saying it can't be done. -Peter Ustinov
 

#34
Maximus

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Dubai Plans Digital Passports Using Blockchain Tech

 

 

The Dubai government has partnered with UK startup ObjectTech to bring blockchain-based security to the emirate's airport.

 
ObjectTech said this week that it is working with the Dubai Immigration and Visas Department to develop digital passports that can potentially eliminate manual checks at Dubai International airport.
 
According to the startup, the system combines biometric verification and blockchain technology, and will use a “pre-approved and entirely digitized passport” to authorize passengers' entrance into the country. The system will further verify individuals through a three-dimensional scan via a short tunnel as they walk from the aircraft to claim their baggage.

 

This is happening in Dubai right now, in 2017. Which means we're gonna be seeing it in the West sometime in the 2030s. Not only will this make flying less stressful, but it will also decrease crowd sizes in airports, which makes large scale terrorist attacks harder to carry out.


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If the world should blow itself up, the last audible voice would be that of an expert saying it can't be done. -Peter Ustinov
 

#35
Yuli Ban

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Ethereum hits another record high after bitcoin and is now up over 5,000% since the start of the year

  • The price of ethereum hit an all-time high on Monday of $407.10 after bitcoin also touched record levels.
  • Ethereum is up more than 5,000 percent since the start of the year.
  • Excitement over the potential of the underlying ethereum blockchain technology as well as support from governments is increasing appetite.

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Nobody's gonna take my drone, I'm gonna fly miles far too high!
Nobody gonna beat my drone, it's gonna shoot into the sky!

#36
Raklian

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What goes up, comes down eventually.

 

As long as both Bitcoin and Ethereum have their uses, it's best to buy dips in their rallies. I prefer to get in after big corrections as the odds of going further down get increasingly less likely. That is, as long as their fundamentals support them.

 

It's all about the fundamentals (ok, some technical analysis too). That's how I get by as a trader.


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#37
Yuli Ban

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Burger King in Russia to Accept Bitcoin As Payment for its Fast Food

Because of the growing popularity of digital currencies, chains of fast food restaurant "Burger King" in Russia will start accepting bitcoin in 2017.
 
Dmitry Medvedev, General Director of Burger King Russia, said that the company will announce the winner of a tender for the development of the software that should allow restaurants to accept bitcoin as a payment for fast food by August 10. The company that gets the tender will have to develop software for payment via Bitcoin through Burger King's website, iOS and Android mobile apps, as well as cash registers. 
Dmitry Medvedev noted that the main difficulty that the company will face is tax issues. The legal status of cryptocurrencies and taxes are yet not defined in the Russian Federation. 
However, he added that payments with cryptocurrency will be available soon.

J9aAJGb.jpg


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Nobody gonna beat my drone, it's gonna shoot into the sky!

#38
Yuli Ban

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Rollout of 260,000+ Bitcoin-Accepting Stores in Japan Begins

Three months after Recruit Lifestyle partnered with Japanese bitcoin exchange Coincheck to enable over 260,000 retail stores to accept bitcoin, the company has finally announced on Monday that its point-of-sale app is now bitcoin-ready. Immediately, a chain of 334 eyeglasses stores using the app announced that it will accept the cryptocurrency starting July 10.


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Nobody gonna beat my drone, it's gonna shoot into the sky!

#39
Maximus

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On Blockchain, Intermediaries and Hype

 

I should start out by saying that this post might not age well. Misplaced optimism is forgotten, whereas undue pessimism is ridiculed. Regardless, if I were interested in agreeing with conventional wisdom and dressing it up as insight I would go work for McKinsey.

 
In my view, blockchain isn't going to revolutionize the global economy or fundamentally alter existing corporate structures, and it isn't going to bring about the end of intermediaries. This is because blockchain is a solution to a non-existent problem.
 
Bitcoin
 
Blockchain started with bitcoin. The perception at the time was that existing payment systems did not allow for non-reversible payments to be made online, and this meant that micropayments were impractical. Bitcoin was devised as a solution to that problem. You don't have to take my word for it, either; this is literally the introduction to the bitcoin white paper:
satoshi_intro-728x211.png
 
Blockchain was designed to solve this problem. The goal was to create a payment system without financial intermediaries in which transactions would be practically non-reversible. This would, in theory, reduce transaction costs and make micropayments possible.
 

This is just an opinion piece, but it does offer an interesting perspective, one that in my opinion is brought up far too little in the cryptocurrency world. Many sing blockchain's praises, but few talk about how it will be implemented, and maybe even more importantly, why it will be implemented. When all you hear are positives, it's time to take a pause and consider the negatives, because there is no way they do not exist.


If the world should blow itself up, the last audible voice would be that of an expert saying it can't be done. -Peter Ustinov
 

#40
Yuli Ban

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Bitcoin Is Having a Civil War Right as It Enters a Critical Month

It’s time for bitcoin traders to batten down the hatches.
The notoriously volatile cryptocurrency, whose 150 percent surge this year has captivated everyone from Wall Street bankers to Chinese grandmothers, could be headed for one of its most turbulent stretches yet.
Blame the bitcoin civil war. After two years of largely behind-the-scenes bickering, rival factions of computer whizzes who play key roles in bitcoin’s upkeep are poised to adopt two competing software updates at the end of the month. That has raised the possibility that bitcoin will split in two, an unprecedented event that would send shockwaves through the $41 billion market.
While both sides have big incentives to reach a consensus, bitcoin’s lack of a central authority has made compromise difficult. Even professional traders who’ve followed the dispute’s twists and turns aren’t sure how it will all pan out. Their advice: brace for volatility and be ready to act fast once a clear outcome emerges.

53z2fT0.png


Nobody's gonna take my drone, I'm gonna fly miles far too high!
Nobody gonna beat my drone, it's gonna shoot into the sky!





Also tagged with one or more of these keywords: bitcoin, blockchain, P2P, DAO, decentralization, digital currency, cryptocurrency, dogecoin, Ethereum, economics

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