Cryptocurrency is poised to bring a cashless world into reality. The industry, worth $500 billion is becoming mainstream and offers an alternative to traditional banking. This new technology allows users to send money almost instantly from any mobile device. It works by having a large number of network computers verifying transactions and recording them on … Continue reading Into a cashless world
Following news that Marathon have successfully installed their large bitcoin mining software in Quebec, I take a look at whether or not this makes any sense. Bitcoin mining is quite simple in terms of, if the monetary value of the bitcoins you mine is greater than your hardware and electricity costs, you make money. It's … Continue reading Game Theory for Bitcoin mining
"Bitcoin's a bubble" "Bitcoin's the future" - It's hard to see through the noise. In this article, I look at the price of Bitcoin in context. I look at some signs that might affect the price. PRICE: Bitcoin is about $11,500. What does that mean? Over 2017, Bitcoin's price went 20x to its peak of … Continue reading Idiot’s guide to the price of Bitcoin.
This article shares a few tips about buying bitcoin, a guide to signing up to coinbase and warnings about common scams. TIPS WHEN TO BUY: The best time to buy bitcoin is when it is at its lowest. Do not buy when it has had a huge rise in value - it usually experiences a … Continue reading How to buy Bitcoin and avoid getting scammed.
Blockchains are being used to secure digital money. It would be pretty shady if someone just came along and edited the blockchain to show they owned all the coins. So, how are blockchains un-editable? #1 Hashes Hashes are often used to verify that information hasn't changed. Imagine you have a number of dice of different … Continue reading Why can’t someone re-write a blockchain and steal your money?
BitGrail, a cryptocurrency exchange, announced insolvency on February 9 after reporting a 17m NANO 'hack' worth $200m at the time. The NANO team have since separated themselves from 'The Bomber' Firano, the owner of BitGrail, issuing a separate statement blaming BitGrail for the loss of funds. Firano has responded tweeting that the claim is libellous … Continue reading The BitGrail 17m NANO ‘hack’ – what really happened?
Blockchains record pseudonymous transactions that cannot be altered. This sounds like it complies with data protection and the GDPR soon to be enforced but it's not that simple. 1) Transactions can be linked to real world people. There are several ways in which transactions can be connected to a person. For a start, many … Continue reading Bitcoin miners to be hit with huge fines?