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ps: this is Self-moderated topic to avoid spam
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Goldman Sachs nails why banks are so excited about the technology behind bitcoin Banks are going gaga for blockchain technology, the protocol developed to underpin bitcoin. It uses complex cryptography and a wide network of records — known as a “distributed ledger” — to eliminate the need for a central bank or middle man to regulate transactions. Banks have been swarming around the technology, with 42 investment banks signing up to an industry-wide group looking at how to use it and Goldman Sachs declaring in a note that it has the potential to change “well, everything.” The conversation around this complex technology is pretty baffling, even to many of those involved. Everyone I speak to has a different way of describing it and the possibilities of what it could be used for are myriad. But Goldman has explained why banks are so excited, in its podcast on “The Digitization of Finance.” Don Duet, co-head of the Technology Division at Goldman Sachs, nails it by describing not how blockchain works, but what it can do. Here what Duet says, as per an emailed transcript: You can see who had it, who owned it, the fact that they actually committed to each other electronically and signed it with cryptology to ensure that it was authorised. You could see all those things, and importantly, again, by having that all being done in a set of digital transactions, it enables it to happen in a much shorter time frame, so it also reduces a lot of what today are the delays which create other types of risk in the settlement cycles, which need to be compensated for in other forms. So one of the big benefits is pretty simple — transparency. At the moment, things like share registered are siloed in institutions so if you want to find out who owns what, you have to put a query to that institution. There are other problems too. Duet says: In order to facilitate the growth of our industry, much of that has been formed around concepts of having multiple sources or, you know, multiple parties owning a definition of truth, so the Bank of New York will own a big part of the reconciling of the ledger of who owns what stocks in the US, and so would other institutions around the world.
But you end up where… you have this situation where you have multiple versions of the truth, which means that everyone needs to reconcile with each other to ensure that they all have the right set of information — who actually owns that asset, when did it get transferred — and it also creates a certain degree of just temporal delay. It’s not possible to be done right away. Read more : http://www.businessinsider.com.au/goldman-sachs-don-duet-explains-appeal-of-blockchain-2016-1 |
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NEW YORK—The co-founder and CTO of blockchain startup Symbiont, Adam Krellenstein, is working to modernize Wall Street by building the decentralized ledger technology beneath bitcoin into the fabric of certain parts of the stock market. So, last week, when one of the former most influential people in bitcoin, Mike Hearn — who helped write the code that powers the cyrptocurrency — said he’d given up on the work, we joined many others around the Internet who wondered how the news might impact other blockchain companies. In a conversation with the New York Business Journal, Krellenstein explained why he thought Hearn was wrong about bitcoin and why Symbiont chose bitcoin’s blockchain to power its self-executing — or “smart” — contracts that can be programmed to automatically fulfill a wide range of market services only after pre-determined criteria are met. What is Symbiont? Symbiont is a smart contracts company, first and foremost, and one that uses multiple blockchains and distributed ledgers for different use-cases. We are blockchain agnostic. We use the distributed ledgers, the blockchains, as storage for hosting consensus of our smart contracts.Which blockchains do you currently use? In August, we announced that we run our service on the bitcoin blockchain when we issued Symbiont’s securities, private equity, ownership in Symbiont, on the bitcoin blockchain. We did that because bitcoin is by far the most mature, secure, stable public blockchain. Read more http://upstart.bizjournals.com/entrepreneurs/hot-shots/2016/01/22/why-symbiont-s-co-founder-chose-bitcoin-s.html |
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Coindesk has released its latest report ‘Who really uses Bitcoin?’ in a bid to dispel, or compound, some of the myths and legends around the digital currency. Who do we think of when we talk about bitcoin users? Is it the ideological libertarian, wanting to subvert traditional finance? The speculator, wanting to profit from price movements? Or the thrill- seeking drug user, getting their goodies through illicit black markets? Media reports and forum conversations have doubtless portrayedall three. But are such stereotypes appropriate? The results are, well, largely to be expected given ongoing criticism laid at the door of the supposedly distributed and democratic cryptocurrency. In a survey of 4,000 Bitcoin owners worldwide, 91.8 percent defined themselves as male, 72.5 percent said they are white and 65.8 percent declared themselves a techie. Almost half of Bitcoin owners surveyed said they live in the US. Interestingly for less-well-publicized diversity issues, users also had the option to identify as transgender or decline to name their gender, but those people made up less than 3 percent of overall respondents. More encouraging in the bid to dispel Bitcoin as a rich man’s game, the level of income of respondents was pretty fairly distributed, from those who earn less than $25,000 to those who make more than $200,000. Education level, however, was skewed slighty towards those with an undergrad degree or higher. Unfortunately, rather than representing a positive alternative to cash or a great technology to many owners, most people surveyed said they brought Bitcoin as an investment. Here’s how most people got hold of their Bitcoin. Read more http://thenextweb.com/insider/2016/01/22/bitcoin-owners-are-still-white-male-techies-to-no-ones-surprise/ |
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Western Union : Bill seeks to make it easier to deal in digital currencies Jan. 22--CHEYENNE -- A bipartisan group of Wyoming legislators has put forth a bill that would change the way the state treats cryptocurrencies, such as Bitcoin. House Bill 26 would amend the Wyoming Money Transmitter Act to define digital currency as a permissive investment. That means cryptocurrencies would be treated the same as U.S. dollars, Euros or any other currency when dealing with monetary transfers. The bill's main sponsor is Rep. Tyler Lindholm, R-Sundance. Lindholm said the best way to explain what the bill would do is to consider the current rules for transferring money using a company like Western Union. "If I was going to send you $100 via Western Union, the Wyoming Money Transmitter Act requires Western Union to have $100 in cash reserves, so they have a backup if they lose my money somewhere along the way," Lindholm said. But what if you wanted to buy something using a service like PayPal, and you wanted to pay with Bitcoin instead of dollars? Under the state's current interpretation of the law, PayPal would need to have the corresponding amount of Bitcoin in reserves, in addition to dollars. In other words, if you wanted to buy $100 worth of product in Bitcoin, the company making the transaction would need $200 in reserves to cover the transaction -- half in Bitcoin, half in dollars. "With Bitcoins, they've got to do double what anybody else does," Lindholm said. "And for that reason, several institutions have refused to do business in the state of Wyoming." Bitcoin is the most prominent cryptocurrency, but there actually are more than 650 such currencies available for trade in online markets. Lindholm describes them as a sort of hybrid between fiat currencies like the U.S. dollar and precious metals like gold or platinum. Like fiat currencies, Bitcoins and other digital currencies base their value on trust in the system instead of any specific backing commodity. But like precious metals, Bitcoins are finite; there is an upper limit to the number of Bitcoins that can ever be produced. Bitcoins are created using a decentralized process called "mining," where individuals process transactions and secure the decentralized Bitcoin network using specialized computer hardware. In exchange for that service, they collect new Bitcoins, or fractions of new Bitcoins. In terms of the mathematics behind it, it's absolutely fascinating," said Sen. Chris Rothfuss, D-Laramie, one of HB 26's co-sponsors. "It's certainly not a system I would have 100 percent confidence in -- I don't want all my money in Bitcoin, that's for sure -- but from a policy standpoint, for the state of Wyoming to treat it differently than any other currency holds it back Read more http://www.4-traders.com/THE-WESTERN-UNION-COMPANY-33821/news/Western-Union-Bill-seeks-to-make-it-easier-to-deal-in-digital-currencies-21733244/ |
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DC Blockchain Summit: Exploring Challenges and Unique Applications of Blockchain The Chamber of Digital Commerce has announced the launch of its DC Blockchain Submit, which will be hosted at Georgetown University on March 3, 2016, to explore policy challenges and application of the blockchain technology. The event will be joined by tech conglomerates, financial experts, government agencies, bitcoin startups, and cryptocurrency enthusiasts, bringing together top-funded technology firms to demonstrate unique use cases for the Bitcoin blockchain technology. Some of the many applications of the blockchain technology which will covered in the Blockchain Innovation Showcase are bitcoin-related consumer technologies, blockchain analytics tools, Internet of Things, and smart contracts. “We are bringing together industry and government to have a thoughtful discussion about the policy challenges regarding blockchain technology,” said Perianne Boring, founder and president of the Chamber of Digital Commerce . “Understanding the direction of regulation and compliance is a core competency in fintech, and the blockchain ecosystem is no exception. In today’s competitive landscape, company’s legal and compliance teams have to be as innovative and creative as their products and services.” The Chamber of Commerce has confirmed the participation of executives, directors and representatives from IBM, International Monetary Fund, Microsoft, NASDAQ, Royal Bank of Canada, Capital One, Booz Allen Hamilton, and American Express. The Washington, D.C.-based trade association told NewsBTC that additional speakers including Circle General Counsel and CCO John Beccia, Ethereum Founder Vitalik Buterin, Microsoft Director of Technology Strategy Financial Services Marley Gray, CNBC financial markets commentator Brian Kelly, FBI official Alden Pelker, Tally Capital partner Matthew Roszak and Steptoe &Johnson member Jason Weinstein will participate in the event. Read more : http://www.newsbtc.com/2016/01/23/dc-blockchain-summit-exploring-challenges-and-unique-applications-of-blockchain/ |
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Following a months-long debate on how best to scale the bitcoin network to accommodate a greater number of transactions, bitcoin mining firms are voicing their support for a newly introduced proposal called Bitcoin Classic. Though a new entrant to the debate, Bitcoin Classic so far has the support of bitcoin developers including former Bitcoin Core maintainer Gavin Andresen, Bloq CEO Jeff Garzik and Ledger Journal editor Peter Rizun, among others. If adopted, Bitcoin Classic would increase the size of blocks on the bitcoin blockchain to 2MB, up from 1MB today. The proposal has created controversy in the industry for running counter to the recommendations of the Bitcoin Core developers, the network's main development team, which has introduced a road map that advocates for a change that would not directly increase block size, but boost transaction capacity four-fold. However, bitcoin mining firms believe that the solution to the scaling debate must come in the form of a direct increase to the network's block size limit, and that Bitcoin Classic offers a more immediate solution to the perception problem that bitcoin as a whole is not doing enough to accommodate new users. To date, miners including BitFury, Bitmain and Genesis Mining are among seven groups that the Bitcoin Classic initiative has said have pledged support to the project. At The North American Bitcoin Conference (TNABC) this week, all three groups were vocal in their enthusiasm, putting forth the argument that Bitcoin Classic is the fastest way to achieve a solution that moves the open-source project forward. Speaking on a panel session, BitFury CIO Alex Petrov explained: Right now, the Bitcoin Core team is slowly introducing a solution, and it’s a really complicated solution, and it's been a half a year and they are still in tests. Bitcoin Classic is a fast answer read more http://www.coindesk.com/bitcoin-miners-bitcoin-classic-scaling-debate-evolves/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+CoinDesk+%28CoinDesk+-+The+Voice+of+Digital+Currency%29 |
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BitFury’s Vavilov Has A Solution For Block Size Challenge, Rebuts Bitcoin Naysayers Valery Vavilov, CEO of Bitfury, believes there is a solution to the current bitcoin block size challenge. In a recent video interview at TC Davos, he explained his
solution and he also expounded on his belief in the future of bitcoin, taking issue with those who are proclaiming its demise.The solution to bitcoin’s block size challenge is to increase the current one-megabyte “block” to two megabytes, Vavilov said. He acknowledges the need to increase the bitcoin blockchain’s scalability, and he envisions a great future for bitcoin in improving its scalability. He gave his insights during an interview with Matt Burns, senior editor of Tech Crunch, at TC Davos. I think the biggest issue of bitcoin and blockchain now is the lack of education…what is very important to understand is bitcoin is not a currency , he said. Blockchain is the huge ledger; bitcoin is the vehicle which runs across these rails, and you can digitize anything of value, digitize any asset, put it inside this vehicle, and it transacts on blockchain… in each token you can transact anything of value. BitFury’s Scalability Solution
itFury recently announced it is increasing the size of its bitcoin blocks. “We think the block size should be increased… The question is how.” He noted that increasing the block size is the discussion taking place in the bitcoin community. Read more https://www.cryptocoinsnews.com/bitfurys-vavilov-solution-block-size-challenge-rebuts-bitcoin-naysayers/ |
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The most expensive Bitcoin sale involving a luxury vehicle took place in Finland last week. The Auto-outlet Helsinki Oy located in Tampere and Vantaa sold a Tesla with the digital currency for a retail price of over € 140,000. As mainstream media calls the virtual money dead, people are still able to use it to move wealth around and buy prestigious looking cars. Buying Cars in Finland With Bitcoin The Finland-based Auto-outlet takes pride in offering luxury vehicles that provide customers quality and style. Now the business is also traveling down the high-tech world by offering its clientele the ability to purchase cars with bitcoins. The company uses Bitcoinkaupat.com, a payment processor that connects merchants to the digital currency through BitPay. The service states via its website, “Remove your transaction fees and accept bitcoin safely in euros.” Bitcoinkaupat CEO Aleksi Vitakoski says Auto-outlet is one of the company’s unique customers stating: Auto-Outlet Helsinki Oy is definitely one of the most interesting customers of ours. It’s great to see how open-minded attitude towards innovations can produce growth in the traditional sectors Read more : https://news.bitcoin.com/e14000-tesla-bought-bitcoin-finland/
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Today in his Newsweek Op-Ed, Blockchain.info co-founder Nic Cary has come out with a few straightforward arguments why he believes Bitcoin is still alive and well. What he argues is that many of the reasons Bitcoin core developer Mike Hearn says Bitcoin has failed are prematurely spurned indicators that Bitcoin is actually succeeding. Cary points to some signs of hope for the future of Bitcoin in his piece, taking aim at traditional banks and contrarians who believe Bitcoin cannot and will not be able to disrupt the status quo. Using a phrase often reserved for huge banking institutions, Cary refers to Bitcoin as “too big to fail.” Pointing to Bitcoin’s growth trajectory and steady adoption over the past 5 years, Cary concedes that the overall system which Bitcoin runs on needs upgrading to continue to function well, however, he also asserts that it’s a good problem to have. What began as a small experiment is now a rapidly expanding ecosystem. There are so many people using it now that we have to plan for more capacity. It was never a secret that the software powering Bitcoin would have to get upgraded occasionally—just like the software on your iPhone While some in the cryptocurrency industry have angst around the 20-30 minute delay surrounding transfers and confirmations of transactions surrounding Bitcoin, Cary has a bit of a more optimistic viewpoint in that established and traditional banks can still take several days to transfer money overseas and the costs can be high as well. Cary believes that Bitcoin’s place in the market will drive growth in both adoption and innovation in the coming 5 years. read more https://www.cryptocoinsnews.com/blockchain-infos-nic-cary-hits-positive-note-bitcoin-newsweek-op-ed/
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for Security and Anonymity paypal can not beat bitcoin, but the problem with bitcoins is popularity, paypal are 100 times more popular than bitcoin
I'm for bitcoin
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I also can give 0.005btc for your account  do you have any others account like this ? i'm interested, i can buy bulk if is the right price thank you |
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f bitcoin acceptance reaches a critical mass where necessities of food, shelter, and clothing can be bought with it, it could reach a tipping point where it displaces national currencies in many developing countries. In this scenario, many areas of the world may leapfrog banking infrastructure and traditional money wire transfers. Most notably, the financial landscape in developing economies such as Africa is well positioned to leapfrog traditional banking and move directly to a bitcoin-enabled financial paradigm. BITCOIN LEAPFROGGING BANKSLeapfrogging is described as a theory of economic development which skips inferior or obsolete technologies in order to move directly to advanced ones. Take, for example, phone coverage in African countries. Landline grids for household use were never fully developed because, by the time Africa came into market view, mobile phones were the new paradigm of telecommunications. The entire infrastructure for household landlines was leapfrogged by cellular technology. Similar to cellular technology, bitcoin could empower Africa to leapfrog the banking infrastructure of western economies and go directly to a new financial paradigm. The preeminent requirement on behalf of African citizens is a mobile device with internet connectivity. Yet, how mobile-savvy are Africans? MOBILE PAYMENTSThe potential to provide financial services worldwide is echoed by the adoption of mobile payment technologies such as M-Pesa, a mobile-phone based money transfer and microfinancing service for Safaricom and Vodacom. M-Pesa is estimated to have a near 70% market share in Kenya and is becoming more accepted in surrounding countries. According to Mobile Payments Today, in 2002, only 3% of people on the entire continent of Africa had mobile phones. That number ballooned to 48% by 2010. In 2014, 70% of the continent’s population had a mobile phone as the market continues to adopt cellular devices.Read More : https://diginomics.com/africa-leapfrog-banking-bitcoin/ |
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A bitcoin and blockchain consortium should be created this year that would unite the cryptocurrency community, thinks Valery Vavilov, CEO of BitFury, bitcoin and blockchain infrastructure provider and transaction processing company. Within this consortium, business would formulate the demand for development while developers would improve the technologies behind bitcoin, Vavilov said in an interview at the World Economic Forum in Davos. The consortium is necessary to create standards, just like the World Wide Web consortium has been doing from the beginning of the Internet era. The discussion regarding the ways of bitcoin’s further development should involve major universities such as MIT, Harvard, and Stanford, Vavilov suggests. BitFury CEO also shared his view on bitcoin in general. Bitcoin is not so much a currency, he said. It is rather an “empty digital certificate” where anything of value can be put and transacted through blockchain. For example, bitcoin can be used for property registration. Bitcoin’s potential in this field is such that emerging markets where people have difficulties with property registration, and not Europe or the USA, will soon become the main area for bitcoin implementation. Vavilov doesn’t agree with the recent claims that bitcoin has come to an end. He reminds that the cryptocurrency is secured by 750 petahashes of computing power, which makes it the safest blockchain in the world. Bitcoin being a cutting edge technology, claims that the currency is about to die may be voiced however often, but, all the same, it will survive with its block size increased in order to make it more scalable, says Vavilov. Yet, he doesn’t specify which of the block size increase projects he supports. The discussion whether or not bitcoin is a “failed experiment” arose after recent exit of one of the core bitcoin developers Mike Hearn. Hearn was the co-author of one of the block size increase projects, namely Bitcoin XT, which he introduced in August 2015. Source http://www.coinfox.info/news/4538-bitfury-ceo-a-bitcoin-consortium-should-be-built |
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A well-known former JPMorgan Chase executive, Blythe Masters, has raised $52 million from several big banks for a start-up built on the technology underlying the Bitcoin virtual currency. The start-up Digital Asset Holdings, based in New York, said on Thursday afternoon that it had raised the money from 13 financial institutions, including Ms. Masters’s former employer, JPMorgan, as well as Citi, BNP Paribas and Santander. At the same time, the company also announced that it had signed a deal with Australia’s primary stock exchange, ASX, to provide technology that would speed up the settlement and transfer of money after stock trades. ASX Limited is also making a big investment in Digital Asset Holdings. Digital Asset Holdings has based its technology on the blockchain concept that was introduced by the virtual currency Bitcoin. The blockchain is the database in which all transactions on the Bitcoin network are recorded. Unlike typical databases, the blockchain is maintained by users in a decentralized fashion. That has led many in the financial industry to hail it as a faster — and more reliable — alternative to existing transaction systems. Many financial institutions have been looking at ways to use a blockchain to modernize financial transactions by cutting out various middlemen from the markets. The Nasdaq stock exchange has already integrated blockchain technology to improve stock trading. Ms. Masters gave the technology a big boost when she announced her involvement with Digital Asset Holdings in early 2015. She left JPMorgan the previous year after a career during which she became one of the best-known figures in the financial industry. Read more http://www.nytimes.com/2016/01/22/business/funds-roll-in-for-start-up-harnessing-bitcoin-tech.html?ref=technology&mtrref=www.nytimes.com&gwh=C9206CD6E7DEB9814170FFEFB6AA2863&gwt=pay&_r=0 |
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Lithuania Financial Crime Investigation Service (FNTT) Director Kestutis Jucevicius has officially announced to the public that digital currency Bitcoin should be used with caution as it is used to finance “ terrorism.” In the future can cause a lot of problems, because the money purified system through bitcoin can benefit not only organized groups engaged in arms trafficking, trafficking in human beings and drugs, the possibility that in the future such a cash transfer schemes and cash transfers could be used by terrorists said Jucevicius on Friday at a press conference. Since the beginning of 2015, an increasing number of government agencies and political organizations have begun to explore the use of bitcoin and other alternative currencies in the dark net or funding of terrorist parties. Europol for example, in collaboration with European government agencies and governments launched a full investigation to arrest individuals using bitcoin to purchase illicit items such as drugs or weapons in the dark web. According to Jucevicius, the FNTT believes Lithuanian citizens have spent over 20 million euros, or 21.6 million USD in illicit purchases or funding of terrorist parties using bitcoin. Read more http://www.newsbtc.com/2016/01/22/lithuania-criticizes-bitcoin-for-assisting-terrorism/ |
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2015 was Bitcoin’s biggest year thus far when it comes to startup investments, and the industry as a whole has been able to raise roughly $1 billion in venture capital funding up to this point. While this may seem like a solid step in the right direction to some, Cypherpunk Vinay Gupta sees things getting much crazier in 2016. On a recent episode of Epicenter Bitcoin, Gupta claimed there will be $10 billion in funding for blockchain-related startups this year. During the early portion of Vinay Gupta’s interview, he noted he’s currently looking at the trends in the blockchain ecosystem and trying to figure out what will take place in 2016. One of the first things he pointed out is the lack of funding for most blockchain-related startups up to this point. He noted: I think, up until now, the entire field has been largely limited by available money. It’s been quite hard to raise funds for projects; there’s been a lot of curiosity from funders, but not very much action Although banks now believe blockchain technology could help them cut costs and provide more efficient money flows, faith in the Bitcoin blockchain and bitcoin as a currency still seems rather low. Having said that, many Bitcoin supporters, including Digital Currency Group Founder Barry Silbert, believe banks will eventually come back to Bitcoin after realizing the benefits of an open, permissionless ledger. http://coinjournal.net/prediction-10-billion-will-be-invested-in-blockchain-startups-in-2016/ |
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Blockchain’s disruptive potential is omitted solely in yellow publications, and the last company to proclaim its intention to integrate the technology in its services will probably become the stone-age Russian Post. International banks unite under major consortiums, startuppers prowl for opportunities to implement blockchain in yet another app, while venture capitalists headhunt for prospective developers. Five years in four. Long live the distributed labor. Peace to decentralized ledgers. The cryptocurrency itself thus pales into insignificance as something inconvenient, complex, and market-hostile. The first reason for that might lie in very slow regulation development, and occasional blackmailing and sabotage attempts from prominent members of the community won’t add anything positive to the equation. Mike Hearn, who had reached Washington Post to give vent to his imperial complexes, is but an example of that trend. He was so hot in his rage he even sold all of his bitcoins, while in fact he could perform a more conceptual act by ordering pizza. For more than a week we’ve been hearing bitcoin is bleedin’ demised, so moving back to crooked PayPal and ancient WebMoney is brilliantly rational. Yet another mobbing for bitcoin is underway once again. http://forklog.net/bitcoin-vs-blockchain-who-wants-bitcoin-dead-and-why/ |
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