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New, fast relay network for Bitcoin coming out of Cornell.edu: http://www.falcon-net.org/
BENEFITS
Falcon is a novel, fast relay network for disseminating Bitcoin blocks. It connects miners and full nodes and ferries blocks using a novel technique to reduce orphans, which in turn helps miners get the most for their effort, and helps the network efficiently convert the spent energy into security. And ultimately, Falcon helps Bitcoin scale.
HOW IT WORKS
Falcon gains its benefits from a novel technique called application-level cut-through routing. This technique effectively decouples the speed of disseminating blocks from the size of the network.
HOW IT DIFFERS
Falcon is 10X to 1000X faster than alternatives. By reducing the latency between the miners, it helps even out the playing field between miners and aids miner decentralization.
Emin Gün Sirer:@mmeijeri Hey Marijn! Excellent sleuthing, you discovered our service that has not been announced yet!
Emin Gün Sirer:@mmeijeri Oh lord. Oh well, cat's out of the bag, I guess. tl;dr: Unannounced breakthrough in scaling Bitcoin by Cornell University researchers. |
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...I don’t know what time it is. I don’t know how on the record we are. *Looks at camera* It’s fine... But ahh, Mike Hearn… Mike Hearn, who is one of the pre-eminent core developers in the Bitcoin community who works for R3, it will be in the New York Times any minute, has broken up with Bitcoin today. He has said it’s a failed experiment. And he believes that the future state of this technology, the distributed ledger and blockchain state. Can be divorced from the technology, and in fact needs to be, to be successful..." … https://www.youtube.com/watch?v=R0iArSIU0Z8&feature=youtu.be&t=47m23s |
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RIP Altcoins
2011 - 2015
How will this affect the BTC/shitcoin exchange rate? |
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i know u like new threads so i made you one
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 So, what is this. Don't go to jail card? Original here. (PDF) |
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By Cinthia Murphy | August 06, 2014 There are a lot of questions about the viability of, and the role that the Winklevoss twins’ Winklevoss Bitcoin Trust ETF (COIN) would play in a portfolio. The fund, which remains in the regulatory pipeline awaiting SEC approval, has certainly sparked a conversation about how far is too far when it comes to niche exposure, and [sic] peaked many investors’ interest.
But to David LaValle, vice president of transaction services for Nasdaq OMX and head of ETF business, the first-of-a-kind ETF is nothing short of yet another major innovation in the quickly growing ETF market. LaValle, who not only oversees the exchange-traded product platform at Nasdaq, but also faces off daily with issuers, liquidity providers and trading firms, argues that the bitcoin ETF—which will be listed on the Nasdaq—is a win-win for investors, traders, the issuer and the exchange itself.ETF.com: The Winklevoss Bitcoin Trust would mark the first time an asset comes to market in an ETF wrapper before it does in a mutual fund. Is that significant? David LaValle: I think it’s significant that we’re on the precipice of a new investable asset that’s coming to market or becoming available to investors first in the form of an ETF. In some ways, it gives the ETF credibility, and it accentuates many of the benefits of the ETF as an investment wrapper. To that extent, it’s important for the ETF industry. ETF.com: One of the criticisms we hear about the concept of a bitcoin ETF is that you can own bitcoins directly pretty easily, so why would you want to pay the fees on top of it that come with an ETF wrapper? LaValle: We view this ETF as an analogue to some of the physically backed commodity products in the industry. The IRS’ ruling classifying bitcoins as commodity and not a currency would also support that. But perhaps as an investment tool, it’s more easily manageable for a retail investor to hold their investments all in investment products. You can make a similar analogy to gold: I could buy lots of gold coins and hold them physically as well, or I could purchase them through an investment product like an ETF. There’s availability for accessing the investment in different ways, and each investor is able to pursue that investment thesis through whichever wrapper they’re comfortable with. But I think bringing it in an ETF wrapper gives bitcoins more credibility. ETF.com: Will a bitcoin ETF have a broad appeal? LaValle: (...) http://www.etf.com/sections/features/22835-nasdaqs-lavalle-bitcoin-etf-a-turning-point.html |
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By Cinthia Murphy | August 06, 2014 There are a lot of questions about the viability of, and the role that the Winklevoss twins’ Winklevoss Bitcoin Trust ETF (COIN) would play in a portfolio. The fund, which remains in the regulatory pipeline awaiting SEC approval, has certainly sparked a conversation about how far is too far when it comes to niche exposure, and [sic] peaked many investors’ interest.
But to David LaValle, vice president of transaction services for Nasdaq OMX and head of ETF business, the first-of-a-kind ETF is nothing short of yet another major innovation in the quickly growing ETF market. LaValle, who not only oversees the exchange-traded product platform at Nasdaq, but also faces off daily with issuers, liquidity providers and trading firms, argues that the bitcoin ETF—which will be listed on the Nasdaq—is a win-win for investors, traders, the issuer and the exchange itself.ETF.com: The Winklevoss Bitcoin Trust would mark the first time an asset comes to market in an ETF wrapper before it does in a mutual fund. Is that significant? David LaValle: I think it’s significant that we’re on the precipice of a new investable asset that’s coming to market or becoming available to investors first in the form of an ETF. In some ways, it gives the ETF credibility, and it accentuates many of the benefits of the ETF as an investment wrapper. To that extent, it’s important for the ETF industry. ETF.com: One of the criticisms we hear about the concept of a bitcoin ETF is that you can own bitcoins directly pretty easily, so why would you want to pay the fees on top of it that come with an ETF wrapper? LaValle: We view this ETF as an analogue to some of the physically backed commodity products in the industry. The IRS’ ruling classifying bitcoins as commodity and not a currency would also support that. But perhaps as an investment tool, it’s more easily manageable for a retail investor to hold their investments all in investment products. You can make a similar analogy to gold: I could buy lots of gold coins and hold them physically as well, or I could purchase them through an investment product like an ETF. There’s availability for accessing the investment in different ways, and each investor is able to pursue that investment thesis through whichever wrapper they’re comfortable with. But I think bringing it in an ETF wrapper gives bitcoins more credibility. (...) ETF.com: How big a win is it for Nasdaq to get this listing? LaValle: We certainly view it as a win. The reality is that we believe Nasdaq to be the home of innovation across all of our business channels, ETF listings included. To the extent that the industry and the investing community are viewing this as an innovation in investment product, we certainly feel we’re at the forefront of that. (...) http://www.etf.com/sections/features/22835-nasdaqs-lavalle-bitcoin-etf-a-turning-point.htmltl;dr: Brace yourself. |
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5:56 pm Nov 7, 2013 | REGULATORY
Judge Orders CoinLab to Pay Up…in Bitcoin
A well-known bitcoin company has been ordered by a judge to produce and deliver the virtual currency to a New York investment firm that accused it of reneging on their contractual agreement.
Judge Robert W. Sweet of U.S. district court for the southern district of New York barred CoinLab Inc. from delivering the virtual currency to any other parties before it meets its obligation to Bitvestment LLC.
The dispute underscores the frenzy surrounding bitcoin, a virtual currency that isn’t backed by a central bank. It is produced electronically using computers, and enthusiasts trade it on exchanges and privately. Some merchants are now accepting bitcoin as a method of payment.
Bitvestment sued CoinLab last week for breach of contract, contending that the Bainbridge, Wash.-based company isn’t living up to its obligation to provide 8,000 bitcoin under an August arrangement between the two firms.
One bitcoin was worth $295 Thursday afternoon on the volatile Tokyo-based Mt. Gox exchange on Thursday, giving the disputed 8,000 bitcoin a value of $2.36 million.
The process of generating bicoin is known in the industry as “mining.”
CoinLab Chief Executive Peter Vessenes has said that the lawsuit was a contributing factor in last week’s bankruptcy filing of CoinLab’s mining unit, which is called Alydian Inc.
Mr. Vessenes is also chairman of the Bitcoin Foundation, a nonprofit trade group that promotes the virtual currency.
Mr. Vessenes noted in an email on Thursday that CoinLab itself has no mining operations, but “of course we will comply (with the judge’s order) as well as we’re able.” It isn’t clear if Alydian is still generating bitcoin while it is under bankruptcy protection.
He also said that CoinLab was pleased that the judge denied other requests from BitVestment, such as seeking certain financial data from officers of CoinLab and Alydian.
“We continue to treat this as a simple contract dispute case, and feel confident on the merits of the case,” Mr. Vessenes said.
Bryan Reyhani, a lawyer representing Bitvestment in the case, declined to comment on the judge’s ruling.
http://blogs.wsj.com/moneybeat/2013/11/07/judge-orders-coinlab-to-pay-up-in-bitcoin/ |
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Android Cryptographic Issue May Affect Hundreds of Thousands of AppsCreated: 13 Aug 2013 23:47:38 GMT | Symantec Security Response There’s been a lot of confusion over the last few days, since bitcoin.org announced that an Android component responsible for generating secure random numbers contained a critical weakness that rendered many Android bitcoin wallets vulnerable. There are a number of different issues that seem to have come into play to make these bitcoin wallets vulnerable. Bitcoin uses the ECDSA algorithm to ensure that funds can only be spent by their rightful owners. The algorithm requires a random number to compute an ECDSA signature, but if two different messages are signed with the same private key and the same random number, the private key can be derived. This is a known method of attacking the algorithm and was previously used to break the security of other products, such as the PlayStation 3 master key On the Android side, the implementation of the SecureRandom class may be vulnerable in some Android versions. Earlier this year, two researchers presented on a number of issues which they claimed affected the randomness of numbers generated by SecureRandom. Android versions from 4.2 (Jelly Bean) and on may not be affected by these specific flaws since SecureRandom was reimplemented Certain bitcoin wallets applications using Android’s SecureRandom signed multiple transactions using an identical ‘random’ number. Since transactions are public on the bitcoin network, attackers scanned the transaction block chain looking for these particular transactions to retrieve the private key and transfer funds from the bitcoin wallet without the owner’s consent. Other Android apps may be vulnerable to similar attacks depending on how they implement SecureRandom. Looking at Norton Mobile Insight data, we have found over 360,000 applications that make use of SecureRandom and over 320,000 of them use SecureRandom in the same way the bitcoin wallets did (they did not call setSeed). The type of applications affected are almost uniformly distributed:  Figure. Affected application distribution We strongly advise users of Android bitcoin wallet apps to check whether their applications are affected, and to follow the steps outlined by bitcoin.org to make their funds safe. We would also like to advise Android developers to stay tuned and review their cryptographic implementations based on SecureRandom and evaluate whether this could pose a security risk. http://www.symantec.com/connect/blogs/android-cryptographic-issue-may-affect-hundreds-thousands-apps |
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In case you don’t know by now, many lawyers — maybe even you — enjoy writing cease and desist letters in a foreign language called legalese. This exotic tongue often contains Latin phrases, SAT vocabulary words, and various here-and-there words (e.g., herein, heretofore, hereinafter, hereunder, thereof, thereto, therewith, thereunder, therefor, thereon, and therefrom). A person unfamiliar with legalese may become frightened and run to another attorney for help in deciphering this mystical language of lawyerly legend. The lawyer who has been tasked with translating legalese to English may then become annoyed, and issue a scathingly funny letter in return. For an example of how to write a great response to a cease and desist letter, keep reading… http://abovethelaw.com/2013/06/how-to-write-a-great-response-to-a-cease-and-desist-letter/
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LINK: http://www.freetalklive.com/listen/liveReposting what I posted to reddit just now: I won't be able to tune in all night...  Would be super awesome if some of you guys would be so kind as to take notes of interesting developments or breaking news covered on the stream and post them here. <3 ... Hmm... Conference coverage was cut off by some really annoying commersials and pre-recorded self-promotion loops. Hope they return shortly. ... Yay, they're back... ... Interviewing Fred Ehrsam from Coinbase right now.  This is awesome. And I'll stop talking to my self now.  Feel free to post updates here as well, in case the reddit thread doesn't fly. Turn on, tune in, coin up! Ooh... Tony Galippi on now.
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