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For me the "internet of things" is still a cool sounding buzzwork, but I don't see the benefits from having, say, microwave oven and a fridge that's connected to the internet. Isn that a bit over the top? this being connected to everything constantly is getting pathological imo.
No, not over the top. It's the future. And businesses will be making a lot of money off of it. IBM and Samsung have teamed up to heavily research and invest in the Internet of Things (IoT) - a model solved with blockchains. They wrote 2 whitepapers as a proof-of-concept: http://public.dhe.ibm.com/common/ssi/ecm/gb/en/gbe03620usen/GBE03620USEN.PDFhttp://public.dhe.ibm.com/common/ssi/ecm/gb/en/gbe03662usen/GBE03662USEN.PDFI'll highlight some quotes from their latest whitepaper: Through the partnership with Samsung Electronics and collaboration with the open source communities, ADEPT successfully demonstrated four use cases using functional Samsung products: - A W9000 Samsung washer autonomously reordering detergent (B2C)
- A W9000 Samsung washer autonomously reordering service parts (B2C)
- A W9000 Samsung washer autonomously negotiating power usage (B2C)
- Samsung Large Format Displays (LFDs) autonomously displaying advertising
content (B2B).
By empowering devices to engage autonomously in markets – both financial and nonfinancial – and react to changes in markets, the IoT will create an “Economy of Things.” Virtually every device and system can potentially become a point of transaction and economic value creation for owners and users. These capabilities will be crucial to everything from enabling sharing economies to energy efficiency and distributed storage. Applying the blockchain concept to the world of IoT offers fascinating possibilities. As soon as a product completes final assembly, it can be registered by the manufacturer into a universal blockchain representing its beginning of life. Once sold, a dealer or end customer can register it to a regional blockchain (a community, city or state). When registered, the product remains a unique entity within the blockchain throughout its life. The possibility of maintaining product information, history, product revisions, warranty details and end-of-life in the blockchain means the blockchain itself can become the trusted product database. Devices will be part of ecosystems that can also require continuously evolving levels of trust. As more transactions occur between peer devices, trust will evolve between them. What starts as an interaction between two trustless peers can over time become a semi-trusted or even a trusted relationship. So washers and refrigerators of the future, for example, will be equipped with higher storage and processing capabilities that make it possible to meet blockchain requirements for a specified period of time – not only of themselves but also of light peers in their trusted environment. We expect such products to become the standard in the years to come. For example, a solar micro-grid may be commissioned for a decade or a smart street light may have been registered a few years back. When servicing or support is needed, blockchain access may verify the first registration or installation details. These technological changes could foretell the biggest revolution since the origin of general purpose computing and transaction
processing systems. One strategy that does offer certainty, however, is not advisable: sitting on the sidelines and waiting for others to pioneer this technology. TL;DR: The Internet of Things can ONLY SCALE AND SURVIVE with blockchain technology. They're calling it "future-proof"... And how will this blockchain self regulate and function without a cryptocurrency that acts as a means of incentive for the miners to keep it going? I dont get all those "blockchain without a crypto" projects. Ummm... it is still based on cryptocurrency. IBM is leveraging Ethereum. "Ether" is a fancy new word for "bitcoin." |
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For me the "internet of things" is still a cool sounding buzzwork, but I don't see the benefits from having, say, microwave oven and a fridge that's connected to the internet. Isn that a bit over the top? this being connected to everything constantly is getting pathological imo.
No, not over the top. It's the future. And businesses will be making a lot of money off of it. IBM and Samsung have teamed up to heavily research and invest in the Internet of Things (IoT) - a model solved with blockchains. They wrote 2 whitepapers as a proof-of-concept: http://public.dhe.ibm.com/common/ssi/ecm/gb/en/gbe03620usen/GBE03620USEN.PDFhttp://public.dhe.ibm.com/common/ssi/ecm/gb/en/gbe03662usen/GBE03662USEN.PDFI'll highlight some quotes from their latest whitepaper: Through the partnership with Samsung Electronics and collaboration with the open source communities, ADEPT successfully demonstrated four use cases using functional Samsung products: - A W9000 Samsung washer autonomously reordering detergent (B2C)
- A W9000 Samsung washer autonomously reordering service parts (B2C)
- A W9000 Samsung washer autonomously negotiating power usage (B2C)
- Samsung Large Format Displays (LFDs) autonomously displaying advertising
content (B2B).
By empowering devices to engage autonomously in markets – both financial and nonfinancial – and react to changes in markets, the IoT will create an “Economy of Things.” Virtually every device and system can potentially become a point of transaction and economic value creation for owners and users. These capabilities will be crucial to everything from enabling sharing economies to energy efficiency and distributed storage. Applying the blockchain concept to the world of IoT offers fascinating possibilities. As soon as a product completes final assembly, it can be registered by the manufacturer into a universal blockchain representing its beginning of life. Once sold, a dealer or end customer can register it to a regional blockchain (a community, city or state). When registered, the product remains a unique entity within the blockchain throughout its life. The possibility of maintaining product information, history, product revisions, warranty details and end-of-life in the blockchain means the blockchain itself can become the trusted product database. Devices will be part of ecosystems that can also require continuously evolving levels of trust. As more transactions occur between peer devices, trust will evolve between them. What starts as an interaction between two trustless peers can over time become a semi-trusted or even a trusted relationship. So washers and refrigerators of the future, for example, will be equipped with higher storage and processing capabilities that make it possible to meet blockchain requirements for a specified period of time – not only of themselves but also of light peers in their trusted environment. We expect such products to become the standard in the years to come. For example, a solar micro-grid may be commissioned for a decade or a smart street light may have been registered a few years back. When servicing or support is needed, blockchain access may verify the first registration or installation details. These technological changes could foretell the biggest revolution since the origin of general purpose computing and transaction
processing systems. One strategy that does offer certainty, however, is not advisable: sitting on the sidelines and waiting for others to pioneer this technology. TL;DR: The Internet of Things can ONLY SCALE AND SURVIVE with blockchain technology. They're calling it "future-proof"... |
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http://public.dhe.ibm.com/common/ssi/ecm/gb/en/gbe03662usen/GBE03662USEN.PDFThis is part 2 of their blockchain research. (Here is part 1: http://public.dhe.ibm.com/common/ssi/ecm/gb/en/gbe03620usen/GBE03620USEN.PDF ) It is important to note that while Bitcoin contains an escalating difficulty in the blockchain mining process to restrict the issuance of currency, no such restriction is necessary in our vision of blockchains for the IoT. For the ADEPT implementation of a blockchain-based IoT, we chose the Ethereum protocol in its alpha version. Ethereum’s improvements to the traditional blockchain approach of Bitcoin, the Turing complete scripting languages it introduced and its ability to create binding contracts were extremely compelling for our [proof-of-concept]. Will Ethereum usurp Bitcoin in terms of usefulness? Or are there better alternatives to using Bitcoin in the same manner as Ethereum - for the Internet of Things?
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Why is everybody upset at this type of marketing? YOU GET PAID!
Actually, this might be some form of future marketing. Instead of paying companies to market for you (commercials, radio, internet, etc...) - you pay consumers directly.
I can see public social profiles with the option to be advertised to or not. You can simply turn on a setting that you want to be advertised and start by earning money for displaying ads on the website.
Companies then will RESEARCH or tailor their advertisements to consumers who actually use the product - they'll be RELEVANT and you get paid for it. They might suggest a product that you actually need.
Alternatively, you can turn off advertisements on these social profiles.
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It was really a perfect storm of things.
Willy bot from Mt. Gox was driving the price up (it should have been around $250 all along). Silk Road. Chinese regulations. Etc...
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A certain level of regulation is indeed needed for massive mainstream adoption, but nonetheless they can never stop people meeting in real life and exchanging BTC for cash anonymously, unless they start putting coverup feds in LocalBitcoin selling BTC to scare people away.
I think relevant and legitimate services/apps are needed for mainstream adoption. Bitcoin can completely operate outside of gov't control. In fact, it can PROVIDE gov't control. |
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After reading the article my perception about regulatory control imposed on bitcoin begins to change. Note that what they said here is that generally banks don't see bitcoin as a threat but more towards the risk level that they have to take. If some form of regulation can help towards mainstream adoption then the question we need to ask ourselves is, why not? Reading the article about how bitcoin is accepted in businesses like pubs and cabs certainly project that kind of positive news and hope we are waiting for. An interesting line that I picked up was "The government is behind it... there's a lot of will behind it.". Perhaps it's time for us to change our mindset.
Where does the regulation stop? Will it affect every user globally? |
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Ironically enough, you misspelled "professionally."
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Not impressed ! Is there anything to keep those letter from falling off ? Or to prevent tampering ?
I could do better by using a 3d printer to print my private key on plastic
From the latest drawings it seems as if the letters slide in so they are secure from falling. Tampering? Couldn't ANY cold wallet, more or less, be destroyed or tampered with? Sure you could make your own plastic one - but not everybody can make one out of steel. This also allows you to change your wallet in the future too (swap out the characters). All in all, it's a cold storage novelty. |
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The mathematical problem/puzzle/equation that must be solved is this:
Find a number such that the double SHA-256 hash of the block header, which includes the number, is less than the target.
The target is determined by the difficulty.
Interesting. You've explained this in a way that isn't difficult to understand. Would you be able to give a sample of what the number, hash of the block header and target would look like in an equation? SHA256(SHA256(H, N)) < T, where H is the header, N is the solution (included as part of the header), and T is the target. Here is the current target (in hex): 0x00000000000000001717F0000000000000000000000000000000000000000000 If you look at block #353192 ( https://blockchain.info/block-height/353192) you will see that N is 3813908736 and the result of SHA256(SHA256(H, 3813908736)) is 0x0000000000000000092f8a4cec04d9a6a9976139db98362656182fc4470b845e, which is less than the target. Actually, that is a simplified explanation. There are other fields in the header that are modified to get a successful result: the timestamp and the merkle root values in the header are also adjusted. Here's an ELI5 - PLEASE correct me if I'm wrong, but remember I'm putting it in the most simplistic terms: As a miner you're putting together transactions and you need to find the hash of the whole block of transactions (this is very easy for computers to do). This hash will be included in the next block to prove that it's part of the "chain." Take a look at this picture (a digest can be considered the same as a hash):  See how drastically the numbers change even if one character is changed? That's why double spending is difficult, because you have to alter ALL of the hashes in the next blocks - this makes bitcoin secure against double spends. Now, bitcoin achieves decentralization in this through a protocol called proof-of-work. It adds an extra step in this hashing. Right now you have to find a hash that's LESS THAN this number: 0x00000000000000001717F0000000000000000000000000000000000000000000. Basically we have to find a number with 17 0's in front of it. Now remember how easy it is for the hash to drastically change (adding/removing ONE character)? Well how to the miners find their hash AND make sure it's less than the target hash number. How do we do this? There's no "equation" for figuring this out, so computers just "guess." It truly is a lottery and makes it decentralized because it appears to be random. Within the block is a "nonce." This is the number that the miner increments until it magically finds the hash we're looking for. The nonce is the "proof-of-work." TL;DR - miners are trying to find a certain value for their hash; they can only achieve this through guessing. Changing the nonce, changes the hash. They're cycling through nonce values until one satisfies the target hash value. Nonce is the proof-of-work and helps achieve decentralization. |
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I am still waiting for that double bottom someone promised for me  Not buying anything above 200$  Hope for NextWeek tm Haha a bitcoin price promise... |
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Hello!
Big changes bring lot's of work.
We are working on writing down the MasterSeed in a single #Cryptosteel.
And we hope we will bring soon very good news!
Are there any early estimates on price? International shipping? |
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You can't have one without the other.
bitcoin is the incentive for the miners. The miners piece together the blockchain at a chance for a reward.
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Arbitrage.
If you search there are bots for this as well.
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Can someone explain how www.earntomorrow.com works...if i deposit 0.001 BTC for say 100 days at 100% compounding, According to their calculator i will have 13.7 BTC but will i be able to withdraw them ? I dont understand this 100% Compounding thing.. How do people keep falling for scams? If it's too good to be true, then it is. |
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I just received the exact same email as well. I sent ALL of my bitcoins - am I doing it right? /s
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I'd request a memo line with transactions. Sure it might add bloat, but it is so practical with a public ledger.
That's what your wallet is for - it can privately label your transactions. |
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Bitcoin isn't either money or currency. Bitcoin is protocol  OP is talking about little "b" bitcoin. Of course, Bitcoin it is a protocol. But specifically, transactions are both money and currency. Money is the intangible idea (there are no physical bitcoins) and currency is our medium of exchange (ownership of private keys with unspent outputs). Standard transaction outputs nominate addresses, and the redemption of any future inputs requires a relevant signature. |
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Money is unreal, meaning imaginary, intangible - a concept.
Currency is NOT money, but merely represents money.
So, bitcoin is... ? They answered it below, both. It's not tangible - it's a concept. However, we can assign it to individual addresses to spend it like currency. Bitcoin is truly a first in human history, where we put theory to action. |
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