“The Fundamentals of Bitcoin”, wrote Hearn, “are broken and whatever happens to the price in the short term, the long term trend should probably be downwards. I will no longer be taking part in Bitcoin development and have sold all my coins.”
Futur En Seine 205 : “Human and technology” conferences cycle Revolutionary technology behind the bitcoin transaction protocol, the blockchain is a decentral...
Has the Bitcoin experiment run its course? According to Mike Hearn, who claims to be one of the founding developers, the answer is yes. He cites technical problems, the block is too small, transactions take too long, and no one can agree on what can be do to resolve these issues. Rumours abound that Bitcoin Foundation…
It is often said that technology is neutral. It’s certainly commonplace for Bitcoin to be thought of as such. In reality, technologies may be characterized as an embodiment of human intention, and therefore, cannot be considered as culturally or politically neutral. At least, this is the opinion of our guest, John Clippinger. A research scientist at MIT Media Lab and CEO of ID3, a nonprofit which aims to deploy a new generation of trusted digital institutions, John has spent the last seven decades researching the interaction between technology and society.
Many people are extremely wary of a one-world currency. I didn't know until recently that this fear among Christians is due to a passage in the Bible itself.
Bitcoin has managed to hit the headlines for all the wrong reasons - but the Isle of Man has embraced the prodigal son and is trying to take it mainstream
There is an often tacit assumption in discussions of traceability in the bitcoin sphere that bitcoins can, in some sense that is meaningful to all those who use the term, be “owned”. So, people wonder what will happen if the arms race between tracking techniques and evasion capabilities is won, even temporarily, by the tracer: won’t that impair the fungibility of bitcoins, they ask, and thus undermine the effective circulation of funds?
NASDAQ is planning to pilot a new transaction-tracking system on one of its smaller markets that makes use of blockchain technology, a key component in the bitcoin system.
Bitcoin may be doomed to failure as the blockchain struggles to scale up; Professor Ross Anderson from the University of Cambridge explains. EXTRA BITS - Bit...
These internal struggles have surfaced at the same time that the Bitcoin technology is gaining credibility on Wall Street and in Silicon Valley. Throughout the various controversies that have plagued the virtual currency — including many instances of theft and fraud — the basic software has continued working as expected. That consistency has pushed the value of all outstanding Bitcoins above $6 billion and led many venture capitalists to imagine the technology as the future of finance, a cheaper and faster way to carry out financial transactions of all sorts.
Bitcoin, the libertarian’s dream currency, is far past the heady days of late 2013. When one Bitcoin was worth $1000 USD, there was no end to what could be done; new, gigantic mining rigs were being created, every online store jumped onto the bandwagon, and the price of Bitcoin inevitably crashed. Right now, the exchange rate sits at about $280 USD per coin, valuing all the Bitcoins ever mined somewhere around $4 Billion USD. That’s a lot of coins out there, and a lot of miners constantly verifying the integrity of the greatest thing to come from the Bitcoin community: the blockchain.
The idea of a benevolent dictator for Bitcoin has become a topic of conversation throughout the community lately due to Mike Hearn’s role as the final auth...
Bitcoin is a revolutionary decentralized architecture which can be used for an untold number of incredibly valuable services – including the transfer of fina.
The world's gaze has been fixated on the eurozone crisis, which helped push bitcoin back to $300 for the first time since March. But bitcoin has its own crisis brewing, and both offer valuable lessons on what makes a currency valuable--real, digital, or otherwise.
Bitcoin has always had the potential for a crisis. Maybe it will be the subject of a successful denial of service attack. Maybe it will be declared illegal. Maybe it will be supplanted by a newer, better technology. But not until very recently had anyone suggested the potential crisis which Bitcoin is now heading towards: Of being undermined by a developer who’s gone rogue, using his political influence to convince vendors that an upcoming minor problem will be a major crisis, getting them to accept his own extraordinarily bad pet solution to that problem, and as a result hurtling the whole ecosystem towards potential disaster.
South African payments gateway PayFast added bitcoin as a payment method on its platform, partnering with the BitX exchange and allowing buyers to make purchases using bitcoin at over 30,000 online sellers...
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