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Archive for the ‘bitcoin’ category: Page 59

Feb 4, 2017

An Anonymous group just took down a fifth of the dark web

Posted by in categories: bitcoin, law enforcement

Glad I wasn’t on TOR for a while.


Visitors to more than 10,000 Tor-based websites were met with an alarming announcement this morning: “Hello, Freedom Hosting II, you have been hacked.” A group affiliating itself with Anonymous had compromised servers at Freedom Hosting II, a popular service for hosting websites accessible only through Tor. Roughly six hours after the initial announcement, all the sites hosted by the service are still offline.

In the message, the group offers to sell the compromised data back to Freedom Hosting II in exchange for 0.1 bitcoin, or just over $100, although it is unclear whether the offer is in earnest.

Continue reading “An Anonymous group just took down a fifth of the dark web” »

Feb 2, 2017

Getting your First Bitcoin; Choosing a Wallet

Posted by in categories: bitcoin, cryptocurrencies, economics, internet

There are at least four ways to acquire Bitcoin and three ways to store it…


Acquire Bitcoin: You can trade Bitcoin in person, accept it as a vendor, mine it, or buy on an exchange.

Store Bitcoin: You can keep your Bitcoin in an online/cloud service (typically, one that is connected to your exchange account), keep it on your own PC or phone, or even print it out and store it on a piece of paper. Like a physical coin, the piece of paper has value. It can be placed in your lock box or under your mattress.

Let’s look at the market for Bitcoin Wallets (all of these are free), and then we shall talk about Bitcoin exchange services. This includes my personal recommendation for the typical consumer or coin enthusiast…

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Jan 29, 2017

Review: Putting Ledger’s New Bitcoin Hardware to the Test

Posted by in category: bitcoin

Ledger’s new hardware wallet is the most costly on the market. Does it have the features to justify the expense? BitGo’s Jameson Lopp investigates.

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Jan 20, 2017

Quantum Foundation Combines Bitcoin and Ethereum to Create Qtum

Posted by in categories: bitcoin, cryptocurrencies, finance, quantum physics

Nice try; no faith it will succeed long term with QC.


Singapore-based Quantum Foundation announced that it is working on a new project called Qtum, which combines the technology of both bitcoin and ethereum to facilitate blockchain technology adoption for corporations. Qtum is an open-source blockchain project that aims to build smart contract functionalities that can be implemented at an enterprise level.

The initial financial backing of $1 million by several industry leaders is a testament to the validity of the technology that the Qtum project is creating but also demonstrates full faith in its team of developers. Early-stage angel investors in the project include ethereum co-founder Anthony Di Iorio, Fenbushi partner Bo Shen, and OKCoin CEO Star Xu, among others. The Qtum project also intends to launch its native cryptocurrency to support the project through a crowd sale to raise further funds.

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Jan 17, 2017

Cancer agency hacked for data won’t pay ransom

Posted by in categories: biotech/medical, bitcoin, computing

Pathetic. This is truly a new low for Ransomware hackers.


MUNCIE — An Indiana cancer services agency says it will replace and rebuild its data after a computer hack demanding a ransom.

Cancer Services of East Central Indiana-Little Red Door in Muncie says it was hacked Jan. 11 and the hackers demanded a ransom of 50 bitcoins, or about $43,000, for access to its data.

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Jan 3, 2017

Can Bitcoin Flourish with a Capped Supply?

Posted by in categories: bitcoin, cryptocurrencies, economics, finance, internet

The answer may be counter-intuitive: Not only can Bitcoin be widely adopted under a supply cap, its trust and integrity are a direct result of a provably limited supply. As a result, it will flourish because it is capped.

Everyone Can Own and Trade a Limited Commodity, IF…

…if it is both measurable and divisible. Bitcoin has a capped supply just as gold has a capped supply. Although both assets will be mined for some time into the future, there is only so much that will ever be uncovered. Thereafter, the total pie cannot grow.

But the transaction units will continue to grow as needed, because the pie is divisible into very, very tiny units:

Continue reading “Can Bitcoin Flourish with a Capped Supply?” »

Jan 2, 2017

US Government Escalates Push for Post-Quantum Cryptography

Posted by in categories: bitcoin, cybercrime/malcode, encryption, government, information science, privacy, quantum physics

Federal agencies of the US government are expanding their calls for quantum computing resistant encryption methods. In effect, the National Institute of Standards (NIST) recently announced a request for public-key post-quantum algorithms. This action follows warnings from the National Security Agency (NSA) about the risks of potential quantum-based cyberattacks and the NSA’s appeal for developing post-quantum algorithms.

Also read: New Developments in Quantum Computing Impact Bitcoin

Moreover, in the near future, it might possible for anyone to manipulate the awesome power of quantum computing. The astronomical price of a quantum computer would not be a limitation because, for example, IBM is offering to the general public quantum computing via the cloud.

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Dec 18, 2016

Bitcoin Arbitrage: Can you profit?

Posted by in categories: bitcoin, cryptocurrencies, economics, finance, internet

At Quora, I occasionally play, “Ask the expert”. Today, I was asked if the difference between quotes at various Bitcoin exchanges presents a profit opportunity.

In addition to my answer, one other cryptocurrency enthusiast offered pithy, one-line response: He said “Buy local, sell internationally and pocket the difference!” I tend to believe the opposite is more likely to generate profit: Buy internationally and sell locally. But, I am getting ahead of myself. Here is my answer [co-published at Quora]…


Question:
A Bitcoin exchange in my country quotes a different rate than
international markets. Can I profit from the price difference?

Answer:
Buying and selling a commodity with the intention of profiting from the difference in price in various markets, regions or exchanges is called arbitrage. Typically, the item must be widely traded and fungible. Although it can be a tangible item (one that must be delivered or stored, like gold, oil, frozen orange juice or soy beans), arbitrage is more practical when applied to an ‘item of account’, such as foreign currency, equity shares, stock futures, or Bitcoin.

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Dec 7, 2016

Is it too late to get into Bitcoin and the Blockchain?

Posted by in categories: bitcoin, cryptocurrencies, hardware, innovation, internet

At Quora, I occasionally role play, “Ask the expert” under the pen name, Ellery. Today, I was asked “Is it too late to get into Bitcoin and the Blockchain”.

A few other Bitcoin enthusiasts interpreted the question to mean “Is it too late to invest in Bitcoin”. But, I took to to mean “Is it too late to develop the next big application—or create a successful startup?”. This is my answer. [co-published at Quora]…


The question is a lot like asking if it is too late to get into the television craze—back in the early 1930s. My dad played a small role in this saga. He was an apprentice to Vladamir Zworykin, inventor of the cathode ray tube oscilloscope. (From 1940 until the early 2000s, televisions and computer monitors were based on the oscilloscope). So—for me—there is fun in this very accurate analogy…

John Logie Baird demonstrated his crude mechanical Televisor in 1926. For the next 8 years, hobbyist TV sets were mechanical. Viewers peeked through slots on a spinning cylinder or at an image created from edge-lit spinning platters. The legendary Howdy Doody, Lucille Ball and Ed Sullivan were still decades away.

Continue reading “Is it too late to get into Bitcoin and the Blockchain?” »

Dec 6, 2016

New Developments in Quantum Computing Impact Bitcoin

Posted by in categories: bitcoin, computing, encryption, information science, quantum physics

Quantum computing might be closer than we thought, thanks to a series of newly developed scientific methods. Furthermore, a new implementation of Shor’s algorithm increases the urgency of getting Bitcoin ready for the advent of quantum computing.

Also read: NIST Starts Developing Quantum-Resistant Cryptography Standards.

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