We are going full Bitcoin!

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Boost VC Is Going Full Bitcoin

 

We are going full Bitcoin!
Our team is excited to announce, after raising $6.6m to fund 200 companies, that we will be accepting 20–30 Bitcoin companies into our next Boost tribe. Tribe 5 will consist of 100% Bitcoin companies. Under this umbrella we will be looking at payments, exchanges, block chain technology, Sidechains, and companies that service Bitcoin companies. We are very excited about the focus that this will bring us. Long term we hope to be able to breach other “before-the-chasm” industries, but Bitcoin is our first exciting step.

 

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Horrible Bosses 2 Features Bitcoin Cameo

Bitcoin made a brief cameo in Horrible Bosses 2, a new comedy from Warner Bros. Although the film portrays a negative stereotype of Bitcoin, the pop culture reference indicates Bitcoin is making its way into the mainstream consciousness. Also Read: Bitcoin Film Review: The Rise and Rise of Bitcoin (2014) Bitcoin Featured in Horrible Bosses […]

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What is Bitcoin?

What is Bitcoin?

Bitcoin is a form of digital currency, created and held electronically. No one controls it. Bitcoins aren’t printed, like dollars or euros – they’re produced by lots of people running computers all around the world, using software that solves mathematical problems. It’s the first example of a growing category of money known as cryptocurrency.

What makes it different from normal currencies?

What is bitcoin?
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Bitcoin can be used to buy things electronically. In that sense, it’s like conventional dollars, euros, or yen, which are also traded digitally.

However, bitcoin’s most important characteristic, and the thing that makes it different to conventional money, is that it is decentralized. No single institution controls the bitcoin network. This puts some people at ease, because it means that a large bank can’t control their money.

Who created it?

A software developer called Satoshi Nakamoto proposed bitcoin, which was an electronic payment system based on mathematical proof. The idea was to produce a currency independent of any central authority, transferable electronically, more or less instantly, with very low transaction fees.

Who prints it?

No one. This currency isn’t physically printed in the shadows by a central bank, unaccountable to the population, and making its own rules. Those banks can simply produce more money to cover the national debt, thus devaluing their currency.

Instead, bitcoin is created digitally, by a community of people that anyone can join. Bitcoins are ‘mined’, using computing power in a distributed network. This network alsoprocesses transactions made with the virtual currency, effectively making bitcoin its own payment network.

So you can’t churn out unlimited bitcoins?

That’s right. The Bitcoin protocol – the rules that make bitcoin work – say that only 21 million bitcoins can ever be created by miners. However, these coins can be divided into smaller parts (the smallest divisible amount is one hundred millionth of a bitcoin and is called a ‘Satoshi’, after the founder of bitcoin).

What is it based on?

Bitcoin is backed by maths

Conventional currency has been based on gold or silver. Theoretically, you knew that if you handed over a dollar at the bank, you could get some gold back (although this didn’t actually work in practice). But bitcoin isn’t based on gold; it’s based on mathematics.

Around the world, people are using software programs that follow a mathematical formula to produce bitcoins. The mathematical formula is freely available, so that anyone can check it. The software is also open source, meaning that anyone can look at it to make sure that it does what it is supposed to.

What are its characteristics?

Bitcoin has several important features that set it apart from normal fiat currencies.

1. It’s decentralized

The bitcoin network isn’t controlled by one central authority. Every machine that mines bitcoin and processes transactions makes up a part of the network, and the machines work together. That means that, in theory, one central authority can’t tinker with monetary policy and cause a meltdown – or simply decide to take people’s bitcoins away from them, as the Central European Bank decided to do in Cyprus in early 2013. And if some part of the network goes offline for some reason, the money keeps on flowing.

2. It’s easy to set up

Conventional banks make you jump through hoops simply to open a bank account. Setting up merchant accounts for payment is another Kafkaesque task, beset by bureaucracy. However, you can set up a bitcoin address in seconds, no questions asked, and with no fees payable.

3. It’s anonymous

Well, kind of. Users can hold multiple bitcoin addresses, and they aren’t linked to names, addresses, or other personally identifying information. However…

4. It’s completely transparent

…bitcoin stores details of every single transaction that ever happened in the network in a huge version of a general ledger, called the block chain. The block chain tells all. If you have a publicly used bitcoin address, anyone can tell how many bitcoins are stored at that address. They just don’t know that it’s yours. There are measures that people can take to make their activities more opaque on the bitcoin network, though, such as not using the same bitcoin addresses consistently, and not transferring lots of bitcoin to a single address.

5. Transaction fees are miniscule

Your bank may charge you a $ 20. fee for international transfers. Bitcoin doesn’t.

6. It’s fast

You can send money anywhere and it will arrive minutes later, as soon as the bitcoin network processes the payment.

7. It’s non-repudiable

When your bitcoins are sent, there’s no getting them back, unless the recipient returns them to you. They’re gone forever.

So, bitcoin has a lot going for it, in theory. But how does it work, in practice? Read more to find out how bitcoins are mined, what happens when a bitcoin transaction occurs, and how the network keeps track of everything.

What is Bitcoin?



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Support SETI@home, the First and Perhaps the Most Important Crowd Computing Project

SETI@home, started in 1999, is one of the first crowd-source citizen science project. This citizen science endeavor is dedicated to finding candidate signals from alien intelligences, which is a project with a really huge potential payoff if successful. You can now support the project with a Bitcoin donation. SETI@home searches for possible evidence of radio […]

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Robocoin Bitcoin ATMs Can Now Run Lamassu Open Source Software

Robocoin Bitcoin ATM operators now have a new attractive alternative to abiding by Robocoin’s new compliance standards. In response to Robocoin’s move to enforce AML/KYC compliance for all of its ATM operators (even non-American ones), some Bitcoin enthusiasts have banded together to port Lamassu’s open source Bitcoin ATM software to run on Robocoin’s hardware. Currently, the Lamassu […]

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Bitcoin Alternative Opal Announces Opal Drive Encrypted File Storage Powered by Cryptocurrency

Opal-Logo

Bitcoin Press Release: Privacy focused cryptocurrency Opal announces the development and future release of encrypted cloud storage platform Opal Drive. This comes on the heels of previous developments such as introducing the Opal Marketplace.

In its continued effort to build the legitimacy and usability of cryptocurrencies in the world outside of Bitcoin, Opal has spent the last several weeks developing its unique encrypted file cloud storage platform. Pairing its development with another cryptocurrency Storj, Opal is proving that seemingly impossible goals can be achieved through cooperation. Cryptocurrency Opal will continue to seek new and innovative ways of using the latest technological innovations; whether it be through their own development or those of their future partners.

As technology grows and the user base becomes more skilled and informed, the abilities of those who wish to do others harm grows as well. The consumer world has seen increasing attacks on the security of their personal data, financial transaction, banking accounts and purchasing records.

The Opal cryptocurrency team believes that the responsibility of security should not be placed on customers, but should be something that a more adaptive technology can improve on. Opal drive will be capable of preventing such data theft through secure encrypted file storage and transfer. The process of this protection is described in detail in the Opal Drive White Paper. The features of Opal Drive will be available for use by people of all walks of life from the computer novice all the way to major technology firms and cryptocurrency enthusiasts. Everyone will be able to benefit from Opal Drive’s ease of use and cryptographic security.

“In future Opal Drive will, like all Opal Coin projects, be expanded on, with many more features integrated.” Says Opal Coin team.

As with any new technological breakthrough, development is on-going and continuously being improved upon. Opal Drive is building upon Opal’s previously laid groundwork of Opacity+ (a secure messaging protocol that allows for anonymous messaging and financial transactions) and Opal Marketplace (an open market that allows the sale and transfer of digital products for the cryptocurrency Opal). The Opal Marketplace is still in its early stages, but is an important step towards the steady growth of online sales.

With the announcement of Opal Drive encrypted cloud storage platform, digital currency Opal is consolidating its efforts in the cryptocurrency space to create a functional and secure platform that has endless possibilities for business growth, scientific discovery, and consumer protection.

To learn more please go to: http://opal-coin.com/

Read the Opal Drive whitepaper at: http://www.opal-coin.com/wp-content/uploads/2014/11/OpalDriveWhitepaper.pdf

Visit the Opal Marketplace at: http://market.opal-coin.com/

Trade Opal for Bitcoin on Bittrex: https://www.bittrex.com/Market/Index?MarketName=BTC-OPAL

Media Contact:

Name: John McCallum

Email: support@opal-coin.com

 

 

 

 


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It’s Very Expensive to be Poor: Stanford Professor Susan Athey Talks Bitcoin with Forbes

Forbes technology writer Laura Shin recently conducted a three-part interview with Bitcoin enthusiast and Stanford business professor Susan Athey about her involvement with Bitcoin, including an experiment being conducted with MIT students. The purpose of the experiment is to determine whether permeation of Bitcoin is a determinant factor in its spread, which is to say, […]

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How you can Shop Your Bitcoins?

Bitcoin purses keep the personal keys that you have to access a bitcoin address and also spend your funds. They are available in different types, created for various kinds of gadget. You can also make use of paper storage space. It is necessary to secure as well as back up your bitcoin budget.

Bitcoins are a modern-day matching of cash, and also every day, an additional business approves them as payment. We know how they are generated, and also exactly how a bitcoin transaction works, yet just how are they saved? We keep cash in a purse, as well as bitcoin works in a similar method.

Although you don’t technically store bitcoins anywhere. Exactly what you keep are the secure digital tricks to access your public bitcoin addresses as well as sign deals. This info is saved in a bitcoin purse.

Bitcoin pocketbooks can be found in a selection of forms. There are 3 major types of purse: desktop computer, mobile, and web. Here’s exactly how they function.
Desktop Bitcoin Budgets

If you have already installed the initial bitcoin customer (Bitcoin-Qt), then you are running a pocketbook, yet may not even understand it. In addition to delivering purchases on the network, this software also enables you to create a bitcoin address for sending out and also obtaining the digital money, and to save the exclusive secret for it. There are various other desktop purses, too, all with different functions. Multibit operate on Windows, Mac OSX, and also Linux. Hive is an OSX-based wallet with some special attributes, consisting of an application store that links directly to bitcoin services, although at the time of writing, this purse is still in beta testing. Some desktop computer pocketbooks are tailored for security. Armory falls into this group. Others concentrate on privacy. DarkWallet– an item still in development– will certainly focus on anonymity, making use of a light-weight internet browser plug-in to supply solutions including coin ‘mixing’ through which users’ coins are traded for others’, to prevent individuals tracking them.

On Your Cellphone

Desktop-based wallets are all effectively, but they aren’t really valuable if you are out on the road, attempting to pay for something in a physical store. This is where a mobile budget can be found in handy. Running as an application on your mobile phone, the budget could store the exclusive keys for your bitcoin addresses, and enable you to spend for points directly with your phone. In many cases, a bitcoin purse will also capitalize on a mobile phone’s close to field communication (NFC) function, enabling you to touch the phone against a reader, as well as pay with bitcoins without needing to enter any kind of details in any way.

One typical function of mobile pocketbooks is that they are not complete bitcoin clients. A complete bitcoin client needs to download and install the entire bitcoin block chain, which is constantly expanding as well as is numerous gigabytes in size. That can obtain you into a lot of difficulty with your mobile company, which will be only too pleased to send you a substantial bill for downloading over a cellular link. Lots of phones would not manage to hold the block chain in their memory, all the same.

Rather, these mobile customers are typically developed with simplified settlement confirmation (SPV) in thoughts. They download and install an extremely small subset of the block chain, as well as depend on other, relied on nodes in the bitcoin network to ensure that they have the appropriate information.

Examples of mobile purses consist of the Android-based Bitcoin pocketbook, Mycelium, and also Blockchain (which keeps your bitcoins encrypted on your phone, as well as supported on a web-based server). Some have special attributes one-of-a-kind to them. Kipochi, as an example, lets individuals utilize their contact number as their bitcoin addresses. Apple is notoriously paranoid regarding bitcoin wallets. Blockchain states that its iOS budget model has actually restricted functions, and Coinbase had its mobile wallet app pulled from the app establishment altogether.

Online Bitcoin Wallets

Web-based pocketbooks save your private tricks online, on a computer managed by another person and connected to the Web. Numerous such on-line services are readily available, and also some of them connected to mobile and desktop purses, replicating your addresses in between different gadgets that you own.

One benefit of an online pocketbook is that you can access it from anywhere, regardless of which tool you are utilizing. Nonetheless, it additionally has a major disadvantage: unless implemented appropriately, it can put the organisation running the site accountable of your personal secrets, basically taking your bitcoins from your command. That’s a terrifying thought, especially if you begin accumulating great deals of bitcoins. Coinbase, an incorporated wallet/bitcoin homeowner runs its on the internet budget around the world however simply allows people to acquire bitcoins in the US. Blockchain likewise organizes a web-based purse, and Strongcoin supplies just what it calls a hybrid budget, which lets you encrypt your personal address tricks before sending them to its servers, by encrypting it in the browser.

Are Bitcoin Pocketbooks Safe?

It depends exactly how you handle them. The personal secrets kept in your budget are the only method to access the purchase data stored in a bitcoin address. If you shed them, you shed your bitcoins. So, they are only secure insofar as no person else can access them, as well as they do not acquire lost.
So Just how Can I Secure My Budget?

There are several means to make your bitcoin budget much more safe and secure:

Encrypt it

One way to safeguard your budget from prying eyes is to secure it with a solid password. This makes it challenging to access your purse, but possible. If your computer system is compromised by malware, burglars can log your keystrokes to find your password.

Back it Up

If you simply have your personal keys kept in one purse, then if you lose that wallet or it gets corrupted, then you have actually lost your keys. Supporting your pocketbook makes a copy of your private tricks, however it is necessary to back up your entire purse. Some addresses are utilized to save modification from deals, and also might not be suggested to you by default. Back the whole point up in many various areas, and also keep them safe from prying eyes.

Take it Offline

If you are as well worried to keep your bitcoin secrets digitally, for concern that they might be stolen by cyberpunks, there is one more alternative: cool storage space. Cold storage budgets keep private bitcoin keys offline, to make sure that they cannot be swiped by somebody else on the net.

It’s a good idea to make use of chilly storage for the bulk of your bitcoin lot of money, and also move just a little to different bitcoin addresses in a ‘very hot’ pocketbook with a Web connection, making it very easy to spend. By doing this, also if your cellphone is lost, or the warm budget on your note pad PC is gotten rid of during a hard disk drive accident, only a small amount of bitcoin money is at risk.

Many software application bitcoin purses showcase a chilly storage option. Or, you can go entirely analog, as well as simply make use of paper for offline storage space in the form of a paper purse.

There are several websites providing paper bitcoin budget solutions. They will generate a bitcoin address for you and also produce a picture having 2 QR codes: one is everyone address that you can make use of to obtain bitcoins. The other is the personal key, which you can utilize to spend bitcoins kept at that address.
The Future of Bitcoin Storage space

Some folks are developing equipment pocketbooks which are created to hold private tricks online and help with settlements. Trezor as well as Mycelium are 2 principals. However, as of November 2013 neither of them had delivered products.
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