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Bitcoin isn’t crazy – in fact it might just be the soundest monetary system this generation has ever known. Some of the techniques miners have devised to extract it, however, are extremely unorthodox, ranging from the ingenious to the downright crazy. Here are seven of the strangest attempts at extracting bitcoin ever conjured.
Also read: Bitcoin Mining Helps Oil Companies Reduce Carbon Footprint
Cryptocurrency without privacy is pointless. If your coins aren’t fungible, you lose much of the benefits of using cryptocurrency in the first place. Privacy isn’t just won and lost onchain though. In fact, much of the privacy gains to be made when it comes to sending, spending and trading crypto occur offchain, as you go about your business on the web.
Also read: Wasabi’s Privacy-Focused BTC Wallet Aims to Make Bitcoin Fungible Again
By CCN.com: The U.S. government shutdown has entered its 35th day. For five weeks, many industries have been paralyzed and federal workers are living on food stamps and soylent. It’s almost incomprehensible to anyone living outside the land of the plenty that the majority of its population lives from paycheck to paycheck. This is still
The post 4 Ways the U.S. Government Shutdown is Menacing Bitcoin and the Crypto Market appeared first on CCN
On Jan. 3, 2019, cryptocurrency proponents the world over will commemorate Bitcoin’s 10th anniversary. While some will raise a glass to Satoshi’s decade-old accomplishment, others may choose to mark the occasion by acquiring a piece of memorabilia. Predictably, there is no shortage of companies lining up to hawk commemorative bitcoin baubles. Also read: Sirin Labs Launches Blockchain-Centric ‘Finney’ Smartphone
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The post Top 5 Ways How Blockchain Can Help Startups appeared first on CCN
The frequency of cryptocurrency donation has been increasing recently. This is most likely down to transparency and accountability, non-profit organisations which have begun to accept contributions in digital currencies which has helped them raise more funds from a new subset of donors.
As trust in charities continues to drop and donations aren’t as big as they once were, charities are looked elsewhere to better their public image by offering greater levels of accountability. Supporting endowments in Bitcoin means that donors can have a bigger degree of oversight which could lead to positive changes in the relevant field of activity.
Blockchain’s organizational power is vast and nowhere is it more applicable than in communities of disparate people. With decentralized technology encouraging better collaboration, transparent communication, and accountability, the question remains how practical blockchain can be to a traditionally centralized public sector. Blockchain was first conceived and perfected in the hands of enthusiasts and businessmen who have since tested it by applying these advantages to finance and eCommerce, for example. However, the young industry is slowing moving towards its biggest test yet. The debut of blockchain in government will demonstrate its potential to a greater degree than in any other area, and it only takes a short look at some examples being designed today to understand why.
Cryptocurrency investors have endured an unbelievably tumultuous year but in spite of the markets dismal performance, there are still a few strategies investors could employ to make money in a down market.
[Editor’s note: This is a guest op-ed submitted by Julia Magas. The views expressed in this article do not necessarily reflect the views of Bitcoinist and are not intended as financial advice. The given article is an opinion piece for educational purposes only. ]
By 2050 there’ll be more plastic trash in the world’s oceans than fish. And the next generation could see more used car tires than there are trees. So how can blockchain — a digital technology — possibly be good for the environment?
By making processes more efficient which leads to less consumption. And by changing people’s behaviors, incentives and practices that affect the environment, according to new report by World Economic Forum (WEF) titled “Building Block(chain)s for a Better Planet.” For example, what if developers used smart contracts to pay people digital tokens so they’ll recycle more, use less water and properly dispose of waste?
You stored your Bitcoin private keys (CRYPTO: BTC) in a safety deposit box so you should be good, right? Not so fast. Criminals are getting more manipulative in how they access your cryptos.
Hacked Browsers Can Steal Your Passwords
This week, a Google Chrome extension for file-sharing service MEGA was hacked by cyber criminals who are potentially stealing private keys and login passwords, among other information. The compromised extension is able to monitor and retrieve sensitive information that are saved on Google Chrome.
Continue reading Cyber Criminals Are Finding Ways To Steal Your Cryptos at Crypto Daily™.
Cryptojacking is on the rise. In fact, it’s now one of the fastest-growing types of cybercrime. And here’s the real kicker: you don’t have to be involved in cryptocurrency to become a victim. In fact, just about as idyllic as Satoshi’s white paper, cryptojacking is completely blind to status, wealth, or centralized organizations.
According to Steve Morgan, Founder and Editor-in-Chief at Cybersecurity Ventures, “Cryptojacking is one of the fastest-growing cybercrimes globally, and the resulting theft of cryptocurrency is incalculable at this time. But, cybercrooks beware, law enforcement agencies have ramped up … the surveillance, capture, arrest, and prosecution of financial cybercriminals … and the online perpetrators can expect stiff sentences for cryptojacking.”
This week we learned that there are still ways to make a quick fortune in crypto even when the market isn’t booming and that American universities are now investing in crypto hedge funds. We also reported that researchers think they found out the real identity of the inventor of bitcoin, Satoshi Nakamoto, in this week’s most commented-on article.
Also Read: Estonia Grants Licenses for Wallet and Exchange Services to Coin Metro
Talk to any number of people about cryptocurrency and you’ll receive any number of responses. Those range from a knee-jerk reaction about criminals and evil deeds to die-hard evangelists championing the death of centralized organizations. Indeed, cryptocurrency may be one of the most loved and hated phenomena the world has ever seen.
But in between the camp of naysayers at one end and the cluster of bagholders at the other, there’s a solid group of players in the middle rolling out ideas. We’ve already seen seamless, near-instant international transactions, companies improving logistics, and elections held free from fraud.
The crypto ban in Pakistan is proving to be not as effective as expected. If anything, the State Bank has barred commercial banks and financial firms from dealing in cryptocurrency which, of course, makes life harder for local exchanges. Individual traders, however, are finding alternative ways to acquire or sell cryptocurrencies, defying the warnings and the prohibitions.
Also read: India’s Supreme Court Keeps Ban on Banks’ Crypto Services, For Now
The Russian government has officially provided a response to the bill that seeks to outline the legal framework for cryptocurrencies. Many flaws and inadequacies were pointed out including unjustified restrictions on Russian residents and foreign investors.
Also read: Russian Regulators Draft Law to Restrict Crypto Mining, Payments, and Token Sales
The Russian government published its official response on Saturday to the draft federal law no. 419059-7 “On Digital Financial Assets” which aims to regulate cryptocurrencies, crypto mining, as well as initial coin offerings (ICOs).
However distant it may seem, powerful quantum computers have the potential to ruin cryptocurrency, and developers are already devising solutions.
CoinDesk
From tech flaws to regulatory interventions, a document sent to prospective investors in Telegram’s $ 2.5 billion token sale spells out the risks.
CoinDesk
LiveTree ADEPT (Advanced Decentralized Entertainment Platform for Transparent Distribution) has been established with the aim to create a decentralized marketplace for the entertainment industry. Listed below are 10 ways LiveTree ADEPT is going to disrupt the entertainment industry.
1. Global access to $ 500 billion creative industry with the seed
The total worth of the global entertainment industry is $ 500 billion. LiveTree ADEPT will approach the seed pragmatically such that the money is invested and distributed innovatively. So if you invest in our platform, you are cutting yourself a chunk of the $ 500 billion.
Here are five ways in which Bitcoin technology has completely redefined the concept of money in its nine years of existence.
Bitcoin is one of the most groundbreaking monetary experiments in human history. In just nine years of existence, Satoshi Nakamoto’s invention has grown into a multi-billion dollar industry, leading to an explosion of fintech innovation… and it’s just getting started.
Meanwhile, Bitcoin technology has already reinvented the concept of money.
According to the Federal Reserve, the characteristics of money are durability, portability, divisibility, uniformity, limited supply, and acceptability. Interestingly, Bitcoin does not only posses, but has greatly enhanced and redefined many of these properties.
While there’s no doubt that Bitcoin is the currency of the moment, with its value rising from $ 0.0008 on inception, to a peak of $ 17,900 in December 2017, one of the biggest concerns that potential investors have is that, in reality, they are difficult to spend.
With skeptics referring to horror stories such as the man who spent 10,000 Bitcoins on two pizzas in 2010 (an equivalent cost in today’s market of $ 20 million), it’s easy to see why spending this currency has become contentious. Many argue that realizing the value potential of Bitcoin depends on holding on to it – but what’s the point in a currency that no one is willing to spend?
