License to print money... BitCoin?

April 10th, 2017 at 5:55:28 AM permalink
Fleastiff
Member since: Oct 27, 2012
Threads: 48
Posts: 4570
Slashdot reports that a Japanese bitcoin exchange is suing Wells Fargo bank for suspension of its wire transfer system despite the bitcoin exchange having no direct dealings with Wells Fargo.
May 8th, 2017 at 10:06:53 AM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 702
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With a bitcoin now being firmly above the price of an ounce of gold (since 2012) and market capitalization at $27 billion, it is interesting to note that there are four other crypto currencies with market cap above $1 billion.

Bitcoin released 3 January 2009
Etherum released 30 July 2015
Ripple released 2012


# Name Market Cap Price Circulating Supply Volume (24h) % Change (24h)
1 Bitcoin $27,013,211,886 $1655.39 16,318,337 BTC $1,419,840,000 5.91%
2 Ethereum $8,480,102,800 $92.75 91,426,328 ETH $262,033,000 -4.63%
3 Ripple $8,330,186,884 $0.219472 37,955,579,225 XRP $383,127,000 69.00%
4 Litecoin $1,522,786,215 $29.85 51,006,582 LTC $148,556,000 -0.20%
5 NEM $1,161,540,000 $0.129060 8,999,999,999 XEM $45,063,100 35.98%


As I said earlier, UK, Denmark, Sweden, Norway and Iceland are all considering releasing a digital national currency. Sweden and Denmark are part of the EU with Britain having decided to withdraw.

Britain has increased speculation that it may withdraw the £50 banknote, as it has not made an announcement as to when it will be replaced with a polymer version.

NEM is a peer-to-peer cryptocurrency and blockchain platform launched on March 31, 2015. The NEM blockchain software is used in a commercial blockchain called Mijin, which is being tested by financial institutions and private companies in Japan and internationally.The development goal of Mijin is publicly stated as being to reduce the cost of banking infrastructure by 90% by Q4 2018.
May 9th, 2017 at 6:40:39 AM permalink
Fleastiff
Member since: Oct 27, 2012
Threads: 48
Posts: 4570
WARNING..........WARNNG.........WARNING.

13 ISPs host 30% of the entire Bitcoin network, 39 ISPs host 50% of the whole Bitcoin mining power, and 3 ISPs handle 60% of all Bitcoin traffic making partioning and latency attacks rather easy for hackers to perform.

Paper to be presented at soon to convene IEEE conference in San Diego/San Jose...one of those 'sans'.
May 25th, 2017 at 3:27:29 PM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 702
Posts: 8109
Sensing perhaps that working by themselves on such an important matter might be inadvisable, AT&T, T-Mobile, and Verizon have announced a joint effort, called ISIS, intended to be a virtual wallet and mobile payment system. There are very few details, but the stated goal of replacing “cash, credit and debit cards, reward cards, coupons, tickets and transit passes” is certainly bold enough. I mean, bold if you don’t think about all the countries that have had systems like this for years.
https://techcrunch.com/2010/11/16/att-t-mobile-verizon-working-together-on-isis-nfc-mobile-wallet-system/

While ISIS is not it's own currency, it uses blockchain to create a virtual wallet and mobile payment system.
It seems like an unfortunate acronym.
May 25th, 2017 at 3:54:32 PM permalink
Nareed
Member since: Oct 24, 2012
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Quote: Pacomartin
Sensing perhaps that working by themselves on such an important matter might be inadvisable, AT&T, T-Mobile, and Verizon have announced a joint effort, called ISIS,


There's a marketing department on the verge of being fired if there ever was one.
If Trump where half as smart as he thinks he is, he'd be twice as smart as he really is.
May 25th, 2017 at 4:49:11 PM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 702
Posts: 8109
Quote: Nareed
There's a marketing department on the verge of being fired if there ever was one.


Google bought the company and the system has been discontinued as of March 31, 2015. At Google's I/O developers' conference May 2016, the company announced that their automatic wallet would be called Android Pay.

John Oliver merely used the service as an example of collusion that is protected by net neutrality laws.

AT&T, T-Mobile US, and Verizon colluded against Google in order to protect ISIS (renamed Softcard in 2014); Verizon refused to allow its devices to access the service because it requires access to the "secure element" of a smartphone, despite Softcard having the same requirement.


Although collusion is often discussed with regard to net neutrality, one of DIRECTTV NOW's main selling features is that you automatically get unlimited streaming on an AT&T Smartphone. It certainly doesn't seem to make sense that AT&T would extend a similar offer to a service that is owned by a rival (like SlingTV owned by DISH), and successful prosecution as a net neutrality violation would result in a simple loss of the service.
May 26th, 2017 at 9:13:24 AM permalink
Pacomartin
Member since: Oct 24, 2012
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Bitcoins are approaching double the price of an ounce of gold.
May 26th, 2017 at 9:14:23 AM permalink
Nareed
Member since: Oct 24, 2012
Threads: 318
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Quote: Pacomartin
Bitcoins are approaching double the price of an ounce of gold.


Can someone at home with a laptop and a simple internet connection mine one bitcoin? If so, and I suppose not, how long would it take?
If Trump where half as smart as he thinks he is, he'd be twice as smart as he really is.
May 26th, 2017 at 9:31:45 AM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 702
Posts: 8109
Quote: Nareed
Can someone at home with a laptop and a simple internet connection mine one bitcoin?

Mining bitcoins is a race to solve a problem. Length of computing time is not a factor. You simply don't have enough computing power in a general purpose computer.
May 26th, 2017 at 10:00:07 AM permalink
Nareed
Member since: Oct 24, 2012
Threads: 318
Posts: 10829
Quote: Pacomartin
Mining bitcoins is a race to solve a problem. Length of computing time is not a factor. You simply don't have enough computing power in a general purpose computer.


Ah.

Actually that makes a lot of sense. Thanks.

Now, if I could get my hands on a Cray.... Do those still exist??
If Trump where half as smart as he thinks he is, he'd be twice as smart as he really is.