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Thursday, November 9, 2017

Cryptocurrency News for 9 Nov 2017

 

Relief and Disbelief: Bitcoin Reacts to Sudden '2x' Suspension

Relief and Disbelief: Bitcoin Reacts to Sudden 2x Suspension

 

The tweets came fast and furious, almost quicker than the articulation.

After months of anger and debate, a group of businesses and mining firms that use bitcoin’s software to provide services suddenly shuttered an attempt at changing its rules. Scheduled to be introduced in mid-November, the Segwit2x software had emerged as a controversial bogeyman, a cloud of uncertainty over bitcoin’s future, that quickly gave way.

Among those who had for months spoken out against the proposal, and what they perceived as a broken understanding of how protocol development should proceed, euphoria was evident.

"Segwit2x hardfork has been called off! Common sense prevails," exclaimed litecoin creator Charlie Lee. “Put a fork in it, it’s done,” tweeted author Andreas Antonopoulos.


Full story at http://bit.ly/2jeG5Rg


Source: CoinDesk


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Who Accepts Bitcoins As Payment? List of Companies, Stores, Shops

Who Accepts Bitcoins As Payment? List of Companies, Stores, Shops

 

Who accept bitcoins as payment? Bitcoins are taking over the crypto-currency marketplace. They’re the largest and most well-known digital currency. Many large companies are accepting bitcoins as a legitimate source of funds. They allow their online products to be bought with bitcoins. With the extreme facilitation of transfer and earning of bitcoins, it would be a mistake not to accept these new-found online coins as cash. With a fluctuating value, the funds can either help or hurt the company. This fluctuation of inflation can be a boon to business, unless the market is valuing the coins insanely high, sometimes reaching 1000$! So really who accepts bitcoins?


Full story at http://bit.ly/2jewrya


Source: https://99bitcoins.com


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What is Bitcoin? A Simple (but thorough) Explanation

 

This sounds like a simple question but it tends to get some complicated answers. In this video we’ll make sure to cover all the bases but also to keep it simple. If you find anything interesting that I didn’t talk about enough, there’s lots more to read about it if you search for it – I urge you.

The correct answer is “The first decentralized digital currency”, but that’s quite a mouthful. So before we begin to understand this, lets start with a more basic question that most people usually don’t ask themselves: “what is money?”

Money, ultimately, is simply the tool that we use to exchange value. Throughout history we’ve used lots of things as money, from seashells, to precious metals, to salt… The most popular money, historically, has been gold. There’s good reason for this: gold works really well as money. It’s rare – so it’s not worthless, and it’s tangible so if you’re holding it in your hand it’s probably yours. Pretty simple. And this worked for thousands of years, no matter what social institutions exist around you, no matter who the king or government is at that particular time. Gold just worked.


Full story at http://bit.ly/2jfWIfb


Source: https://99bitcoins.com


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Millennials Are Big On Bitcoin (But Over 65s Not So Sure)

Millennials Are Big On Bitcoin (But Over 65s Not So Sure)

 

Over 2,000 US adults were quizzed by Harris Poll in one of the most wide-ranging bitcoin surveys to date. The poll, which was conducted between October 18th and 20th, provides a fascinating insight into how adults of all ages perceive bitcoin. It is among 18-34-year-olds however – millennials – that the greatest divergence from the rest of the population is seen.

Youth might be wasted on the young as the adage goes, but bitcoin doesn’t appear to have passed them by. Not only do twice as many millennials own bitcoin as the rest of the population (4% versus 2%), almost a third claim they’re likely to buy bitcoin in the next five years, versus just 19% of all Americans.

Spencer Bogart, managing director with Blockchain Capital, stated:

“The results of the survey reinforce our conviction in the massive opportunity that lies ahead for Bitcoin.”


Full story at http://bit.ly/2jeSxR2


Source: Bitcoin News


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Closing the Curtains On Segwit2x and the Following Aftermath

Closing the Curtains On Segwit2x and the Following Aftermath

 

It all started back in May when the venture capital firm, Digital Currency Group, announced the Segwit2x plan, which would activate Segregated Witness (Segwit), to be followed up three months later with a 2 MB block size increase. Segwit was activated this past August by a vast majority of miners, but following the implementation, the 2 MB hard fork became ‘controversial.’

Up until the day before yesterday, according to Segwit2x’s lead developer Jeff Garzik, the project was “full steam ahead.” However, on November 8, on the projects’ developers mailing list, Mike Belshe (Bitgo), Wences Casares (Xapo), Jihan Wu (Bitmain), Peter Smith (Blockchain) and Erik Voorhees (Shapeshift) revealed the team could not “build consensus.”

Immediately following the announcement, social media and bitcoin-centric forums erupted with people’s opinions about the canceling of Segwit2x. The entire front page of the Reddit forum /r/bitcoin was littered with tweets from bitcoin luminaries like Charlie Shrem, Francis Pouliot, Jameson Lopp, and more. For instance, one such post highlights bitcoin developer Peter Todd’s statements, who mentions the six signatories left on the announcement email stating:

"In case you were wondering who to send the bill for the millions of dollars worth of engineering time wasted on this mess."


Full story at http://bit.ly/2je2VZ4


Source: Bitcoin News


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Someone deleted some code in a popular cryptocurrency wallet — and as much as $280 million in ether is locked up

Someone deleted some code in a popular cryptocurrency wallet — and as much as $280 million in ether is locked up

 

An estimated $280 million worth of the cryptocurrency ether is now locked up after a user accidentally deleted the code necessary to access the digital wallets hosted by the company Parity Technologies.The vulnerability affects multi-signature digital wallets launched through Parity since July 20. Multi-sig wallets usually contain large sums of money, since they are used primarily by startups or large groups looking to prevent any one member from running off with the money.

An unidentified user accidentally deleted the code library required to use recently created digital wallets within Parity, a popular digital-wallet provider, according to a security alert posted on the company's blog on Tuesday.

The freeze affects all multi-signature wallets created on Parity after July 20.

Multi-sig wallets are especially popular among cryptocurrency startups and other groups because they require more than one person to agree before any currency gets moved around. It's a safeguard against rogue employees who might want to run off with the money.


Full story at http://read.bi/2jcLybh


Source: Business Insider Nordic


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