Bitcoin has attracted a great deal of interest over the last couple of years, and mainstream investing has skyrocketed with the ever-growing Bitcoin price. Now, a new market sector is starting to emerge as American corporations are stocking up on digital currency to combat cybercrime. Corporations Fuel Bitcoin Demand as Ransomware Spreads Hackers with an eye towards gaining valuable Bitcoins are hitting corporations more and more with dreaded ransomware, and this problem seems to be
Italian academics have released research warning about the growing use of non-monetary use cases for the Bitcoin blockchain. ‘Negative Effects’ on Bitcoin Network The research, authored by Massimo Bartoletti and Livio Pompianu from the University of Cagliari, Italy, focuses on the multiple use cases for Bitcoin that extend beyond its most basic function, the transfer of value. Dubbed “An analysis of Bitcoin OP RETURN metadata,” it investigates the use of one of Bitcoin’s transaction fields, the OP_RETURN metadata feature.
Blockstream has released a whitepaper detailing the Strong Federations system, the foundation for the Liquid sidechain project to improve privacy, costs, speed of value transfers and settlement among exchanges and brokerages. ‘An Interoperable Blockchain Solution’ Under the leadership of Adam Back, Blockstream has released a whitepaper dubbed “Strong Federations: An Interoperable Blockchain Solution to Centralized Third Party Risks.” The whitepaper delves into the intricacies of the federated pegs system that can be used to attach sidechains to Bitcoin.
Darktrace, a cyber security company, backed by Mike Lynch, was recently valued at an estimated 100 million dollars. This was surprising to many as the company has been open for a mere two years, yet it is working with big companies such as Virgin Trains. The reasoning behind Darktrace’s success is a mystery to many. However, there is a safe and sound reasoning to the company’s success, but first, perhaps we need a little backstory
Trestor is a technology non-profit company whose mission is to create the most efficient International service for money, payment, and markets. The Startup is focused on providing a global and accessible money and payment system with over 575 retail partners located across 66 countries. Trestor Network, or T-net, is a decentralized peer-to-peer network. Just like many other cryptocurrencies, anyone who wishes to contribute computation and bandwidth resources can become an active node and help run
The deadline for creditors to file claims against the bankrupt MtGox bitcoin exchange has been extended until July 29, 12:00 JST. Also read: MtGox Creditors May Get Their Money/Bitcoin Back! On April 22, 2015, the bankruptcy trustee created a system that enabled MtGox users to file claims against the exchange regarding their lost funds. Currently, the bankruptcy trustee is accepting bankruptcy claims filed by users using the system, an online method which the trustee claims to
Politics dominates much of the Bitcoin vs. gold debate. Bitcoin enthusiasts often speculate on how the digital currency can undermine the state, fostering individual economic liberty for society at large. On the other hand, Bitcoin skeptics worry about the currency enabling their political enemies to gain a financial advantage. For example, Bitcoin-friendly political candidates can draw in single-interest voters from all demographics — from both the left and right — by taking a strong and
Greece, one of the world’s regions that was known for ratio, philosophy and mathematics in the ancient world is under siege. These days, Greece and the lending/repayment actions are daily in the news. A lot of people are getting worked up about the EU, the European central bank, Germany, Belgium, lending policies etc. and “the poor Greek people”. To understand the EU viewpoints on Greece, just or not, and Greece itself we will have to
Bitcoin mining is a topic of heavy debate around the world. Not just because the difficulty keeps increasing, making existing mining hardware outdated rather quickly, but also because of the sheer energy consumption. As a result of the lower Bitcoin price and rather high electricity costs, many miners and companies have moved their operations to other parts of the world. But what if the existing wind hardware we have right now – used to generate
The world of finance already seems to evolve at a slow pace, yet some countries manage to come up new ideas that make the situation even worse than before. Recently the Belgian Court of Cassation has decided to let the Department of Finance use any evidence in court, even if it has been obtained through “dubious” activities. Also read: European Court Says Website Liable for User Comments Which Evidence is Allowed and Which is Not? When
Consumer behavior has evolved tremendously over the past few years, and not necessarily all for the better either. We are being fed ideas and thoughts to consume as much as possible as often as possible, without giving it a second though. Items we buy may last anywhere from a few weeks up to a few years before they need replacing. But if startup company Byebuy has a say in the matter, that situation will change
Trust is a component in both gold currency and Bitcoin, although working in two fundamentally different ways. With gold, trust is almost always required, be it in mining, minting, or banking. On the other hand, with Bitcoin, mandatory trust only enters the equation with a centralized mining network. All other trust requirements with Bitcoin occur when an individual voluntarily gives a company or other person control over his or her coins. Also read: Is Bitcoin Better
Bitcoin is often advertised as an anonymous digital currency that offers a high level of user privacy. People can hide their identities behind a wallet address, and generate additional addresses if needed. But is Bitcoin as anonymous and privacy-centric as uneducated people assume? The answers might surprise you. Also Read: All About: The Blockchain Part Six Anonymity vs. Pseudonymity Right now, there is a decent level of customer privacy in business. But it only exists
In many ways, gold and Bitcoin are similar. They are both scarce; gold is scarce by nature and Bitcoin has scarcity coded into its protocol. Gold and Bitcoin are divisible; gold can be melted into small coins or even shaved into tiny flecks. Each bitcoin is divisible by eight decimal places. They are both fungible; each ounce of gold is interchangeable with the next, and all bitcoins are interchangeable with one another. Gold and Bitcoin
Factom is a new decentralized protocol working on top of the Bitcoin protocol that solved some of the Bitcoin main Blockchain's flaws.
Over the past several days, the debate over increasing the Bitcoin block size limit has been rekindled. Gavin Andresen, the most prominent Core developer, restarted the debate in a blog post announcing his intention to respond to each substantial argument that opposed raising the limit. Staying true to his word, Andresen proceeded to publish a slew of posts addressing several different arguments against raising the limit. This series of articles sparked yet another community-wide discussion
Speculation is running wild in the world of Bitcoin and digital currency after Rand Paul announced his tech counsel team members. Among those members are some very important people in the Bitcoin industry, particularly Overstock CEO Patrick Byrne. But what does Rand Paul need a tech counsel for, and what will Byrne’s appointment mean for Bitcoin and digital currency in general? Also read: Rand Paul Accepts Bitcoin for 2016 Campaign Donations Rand Paul: Accepting Bitcoin Donations for Political
Our society is evolving into a cashless economic infrastructure. Several European countries are trying to discourage people from using cash in order to pay for goods and services. That seems only normal, as cash transactions are a hassle when dealing with change amounts. The list of downsides when dealing with cash transactions is rather lengthy, and if Danish government has any say in the matter, Denmark will become completely cash-free in the near future. Also
The world of Bitcoin and digital currency is plagued by regulatory uncertainty across the globe. Several countries are debating on how they should regulate Bitcoin, while other countries are focusing on taxing digital currency. In the United States, regulation depends on which state your business operates in. But the American Bar Association may change all of that in the near future. Also read: Bitcoin Regulation Is Still Far Away For America The Current State of Bitcoin
The history of Bitcoin is still plagued by the Mt. Gox collapse. After allegedly losing several hundreds of millions of dollars in Bitcoin due to a hack, the exchange was forced to halt its services. A lot of people around the world have been affected by this debacle, and quite a few of them took the matter to court. As a result, it is now possible to file a claim for lost funds, in the hopes of retrieving
News powered by Bitcoinist.net Article by Drew Cordell As a continuation of my Blockchain series, I will be covering the potential of the blockchain for the purpose of voting reformation. In order to properly cover sidechains, I need to continue to dig into the knowledge base regarding the technology to learn more about the technology before I write about it. Sidechains are a revolutionary idea for Bitcoin, and it deserves to be reported well. In this part
At this point in time, with Bitcoin becoming increasingly relevant in the mainstream, outside observers are becoming less skeptical and are now genuinely curious about the currency’s potential. They have accepted that Bitcoin’s code is strong, and arguments that Bitcoin has no “real” value are waning. Many people in the mainstream no longer question whether Bitcoin can be integrated into the global financial system, but instead speculate on how it will be integrated. Also read:
Coinimal, a European digital currency merchant, recently announced its new integration with NETELLER. By adding NETELLER to its payment options, Coinimal becomes the first crypto business working with NETELLER. Also read: Neteller Wants to Acquire Paysafecard Issuer, Skrill Coinimal was launched in December 2014, aiming to improve access to Bitcoin in Europe. The Coinimal platform provides easy access for both buying and selling Bitcoin, along with some other cryptocurrencies such as Litecoin or Next. Last month, NETELLER