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Archive for the ‘cryptocurrencies’ category: Page 31

Feb 7, 2017

Blockchain Scalability: Proof-of-Work vs BFT Replication

Posted by in categories: bitcoin, computing, cryptocurrencies, disruptive technology, economics, innovation

Research can seem bland to us laypersons. But, Marko Vukolić shares many of my research interests and he exceeds my academic credentials (with just enough overlap for me to understand his work). So, in my opinion, his writing is anything but bland…

Vukolić started his career as a post-doc intern at IBM in Zurich Switzerland. After a teaching stint as assistant professor at Eurecom and visiting professor at ETH Zurich, he rejoined the IBM research staff in both cloud computing infrastructure and the Blockchain Group.*

As a researcher and academic, Vukolić is a rising star in consensus-based mechanisms and low latency replicated state machines. At Institut Mines-Télécom in Paris, he wrote papers and participated in research projects on fault tolerance, scalability, cloud computing and distributed trust mechanisms.

Now, at IBM Zurich, Vukolić has published a superior analysis addressing the first and biggest elephant in the Bitcoin ballroom, Each elephant addresses an urgent need:

Continue reading “Blockchain Scalability: Proof-of-Work vs BFT Replication” »

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 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 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?” »

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.

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Nov 22, 2016

Proof Of Stake — By Fred Wilson | AVC

Posted by in categories: bitcoin, cryptocurrencies

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“One of the most interesting questions to me is whether we can figure out how to implement a proof of stake consensus mechanism in a large decentralized trustless public blockchain (ie Bitcoin, Ethereum, etc).”

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Nov 15, 2016

Voting On The Blockchain — Fred Wilson | AVC

Posted by in categories: computing, cryptocurrencies

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“I haven’t placed a vote on a blockchain yet, but it’s so simple to do that I expect I will be doing it frequently soon enough.”

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Nov 11, 2016

Bitcoin users relax: Quantum computing no match for SHA-2 encryption

Posted by in categories: bitcoin, cryptocurrencies, economics, encryption, quantum physics

Worried about security for your bitcoin in the face of quantum computing? According to computer researchers, there’s no reason to be.

Source: https://hacked.com/breathe-easy-bitcoiners-quantum-computing…encryption

Quantum mech

Some people assume that once quantum computing comes along modern encryption technologies will be outpowered. But experts are starting to posit that hash functions and asymmetric encryption could defend not only against modern computers, but also against quantum attackers from the future.

Continue reading “Bitcoin users relax: Quantum computing no match for SHA-2 encryption” »

Oct 31, 2016

Blockchain, cryptocurrencies, and central banks: Opportunity or threat? — By Dirk Niepelt | World Economic Forum

Posted by in category: cryptocurrencies

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“Central banks increasingly are under pressure to keep ‘their’ currencies attractive. They should let the general public access electronic central bank money, not just financial institutions ( Niepelt 2015). To do this, they should embrace the blockchain.”

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