LeadCoin - Cryptocurrency
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Bitcoin Value and rise of the cryptocurrency – Video
Bitcoin Value and rise of the cryptocurrency
bitcoin value has grown 5000% in the past couple of years, and everyone in the field are wondering where are we heading now? Check out our blog post on bitcoin value: http://www.bitcoinraven.com/bi...
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Cryptocurrency mining Rig build 1 – Video
Cryptocurrency mining Rig build 1
Part One of my crypto currency mining rig build, getting the parts together and parts placement in a crate. Reusing the motherboard plate out of an old ATX t...
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Cryptominer.de Avalon 200GH/S Bitcoin Miner Asic 55nm Mining Cryptocurrency – Video
Cryptominer.de Avalon 200GH/S Bitcoin Miner Asic 55nm Mining Cryptocurrency
Hash Rate / Normal Mode 208 GH/S Hash Rate / Overclocked Mode 256 GH/S 2nd Gen Avalon 55nm Consumption: 700 Watt easy overclocking - just adjust chip frequen...
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Cryptominer.de Avalon 200GH/S Bitcoin Miner Asic 55nm Mining Cryptocurrency - Video
As Bitcoin Soars in Value, Alternative Cryptocurrencies …
Currencies designed to fix perceived flaws in Bitcoin could lead to competition that makes the idea of digital cryptocurrency stick.
In recent weeks, the digital currency Bitcoin has soared and then dipped in value, along the way attracting more public attention than ever before and speculation as to whether it could become an established and widely accepted way to pay for goods and services.
But Bitcoin isnt the only cryptocurrency out there. Several others are also surging in popularity and value, and they claim to offer technical improvements that make them better suited to mainstream use.
Some of these competing currencies already represent significant stores of value. The value of a single bitcoin on the most popular exchange was $93.70 at time of publication, and the total value of all bitcoins in circulation just over $1 billion (it was over $2 billion at the markets high point last week). The largest alternative cryptocurrency, litecoins, were worth $2.31 each and $38 million in total; the next largest, PPCoin, were worth $0.22 each adding up to a total value of $4 million.
Bitcoin is based on mathematical techniques that control the production of new bitcoins, make it possible for a person to verify money sent to them is genuine, rule out counterfeiting, and limit the maximum number that can ever exist (to 21 million) (see What Bitcoin Is, and Why It Matters).
The Bitcoin alternatives are inspired by that design, which is published openly, and try to offer improvements.
One of Litecoins most significant claimed improvements over Bitcoin is that it allows transactions to be confirmed as legitimate much more quickly, says Charles Lee, who designed the currency, which is now maintained by him and a small group of other enthusiasts.
Bitcoin transactions are verified by the work of software run by other people using the currency, a process that takes on average 10 minutes and can be much longer, an hour in the case of many exchange sites. Lee says that hinders operators of online stores from using the currency. With Bitcoin, sometimes merchants are forced to accept unconfirmed transactions because confirmations are way too slow, he says. Faster confirmations lead to a more useful currency. Litecoin transactions are confirmed on average every 2.5 minutes, which Litecoins developers say is more practical for businesses.
Both Litecoin and the third most-popular cryptocurrency, PPCoin, also generate new coins in a way intended to be more practical than Bitcoins design. New bitcoins are created through a process known as mining, in which people run software that competes to solve a computational puzzle. Each time a puzzle is cracked, new coins are awarded and a new challenge is set. In a neat twist, the process of solving a puzzle also confirms the validity of recent transactions made with bitcoins.
However, because more powerful computers are more likely to solve these puzzles, an arms race between bitcoin miners has resulted. Today only those with very powerful, customized machines have a chance of profitably mining bitcoins and miners are still racing to build ever more powerful mining rigs.
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Gotangco: Is PH ready for Bitcoin and cryptocurrency?
By Jerome Gotangco
Last year, a new technology buzzword became mainstream: cryptocurrency. And with it a hot product called Bitcoin.
In a nutshell, cryptocurrency is a digital medium of exchange that is designed to be a replacement of money in its current physical form and can be used not just for online, but physical transactions as well (imagine using your phone to pay for an item at a convenience store but what you paid in digital form is widely accepted as money and not just tied up with a bank or credit card account).
In simpler terms, cryptocurrency is a new form of money designed for the digital economy. Except that only the community of users who believe on that Bitcoin is driving the value, not like traditional fiat money.
Bitcoin started in 2009 but only became wildly popular (and getting more valuable) in 2012 when intrepid online stores started accepting them as payment. Since the transaction or payment charges for Bitcoin is way smaller than that of a bank, it makes more sense for retailers to use it.
Of course, any currency is only useful if it can be equated in value with an existing, globally accepted form of exchange, in this case the US dollar. As of January 21, a single Bitcoin (or BTC) is worth $963 in the market (from Mt. Gox exchange in Japan). Its possible to own only a fraction of a Bitcoin with a Satoshi as the smallest fraction equivalent to 0.00000001 BTC (or in simpler terms, 100,000,000 Satoshi = 1BTC).
What is amazing with Bitcoin is that all this value is being driven by the community of users in the Internet, with very little intervention from governments and monetary authorities.
Because of Bitcoins decentralized nature, there is no governing authority over it except the actual community of Bitcoin users itself who dictate demand and supply in a global scale thanks to the Internet.
But its decentralized nature is also Bitcoins weakness (and cryptocurrency in general): it is highly susceptible to fluctuation in value.
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$25,000 in Dogecoin raised to save the Jamaican bobsled team
Feel the rhythm! Feel the rhyme! Get on up, its bobsled time!
Perhaps the biggest and most inexplicable economic fad in recent years is cryptocurrency, beginning with the most widely accepted of the bunch, Bitcoin. Many other cryptocurrencies have manifested in its wake some taken seriously, such as Litecoin, while others began life in it for the comedy. Dogecoin is the current leader in comedic cryptocurrency, modeling its presence after a fairly old meme that blew up in recent months. Dogecoin was created right when the meme was at its highest saturation point, and was the first popular satirical cryptocurrency, so it came together at just the right time. Now, rather than simply being a cryptocurrency that was so amusing that it actually became valuable, Dogecoin has become a feel-good story and a beacon of hope.
The two-man Jamaican bobsled team qualified for the 2014 Winter Olympics for the first time since 2002, but could not afford to fly to their training session that is, until the funds were raised in Dogecoin.
The Jamaican bobsled team continually finds themselves in feel-good stories, one of which was loosely documented with 1993sCool Runnings. This time around, the feel-good story involves an internet meme and intentional typos and poor grammar. Winston Watt, one half of the bobsled team, launched a donation campaign on Paypal to help raise the necessary funds. The campaign caught the eye of Liam Butler, who happens to run the Dogecoin Foundation along with the currencys two other creators. Butler is a fan ofCool Runnings as most 90s kids are and promptly began a fundraiser in order to help help the Jamaican team. Dubbed Dogesled, the fundraiser managed to nab over 26 million Dogecoins in just a few hours.
Reportedly, so many donations had been rolling in that the exchange rate of Dogecoins were raised by around 50%.
Considering airlines dont yet accept cryptocurrency as a form of payment especially not one based on a goofy Shiba Inu the Dogecoin team exchanged the raised coins for a dollar amount of $25,000. The raised amount still doesnt reach that $40,000 threshold, so you can donate here if youre feeling generous, but it looks like the Jamaican bobsled team has a fighting chance this year.
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$25,000 in Dogecoin raised to save the Jamaican bobsled team
Kanye West Sues Amazon, Others Over ‘Coinye West’ Cryptocurrency
Jerritt Clark/Getty Images
Kanye West
Kanye West is not letting the anonymous, decentralized nature of cryptocurrency get in the way of pursuing those behind "Coinye West."
The hip-hop artist has filed a lawsuit, looking to hold liable those who have tendered the digital money. If he wins the lawsuit alleging publicity rights and trademark violations, he could get some cold, hard cash -- a.k.a. the Benjamins (no disrespect intended to Mr. Franklin).
STORY: Kanye West Getting Bitcoin-Esque Cryptocurrency Named After Him
First, though, he'll need to figure out the identities of the alleged culprits, and to make that happen, he's targeting a wide range of defendants from 0daycoins.com, said to operate a digital currency exchange, to Amazon.com, identified as providing web hosting services to the currency exchanges. Then, of course, there are the anonymous John Does -- payment processors, operators of cryptocurrency "wallets," retailers accepting "Coinye" and others.
In his complaint filed in New York federal court, West says that consumers are likely to mistakenly believe that he is the source of the cryptocurrency. The lawsuit provides examples of tweets like the one from Christopher Hudson, who wrote, "Move over #Bitcoin, @kanyewest now has his own cryptocurrency called @CoinyeWest."
West's attorneys at Pryor Cashman might hope to subpoena their way into more information about the defendants, but for now, the most interesting claim comes against Amazon for contributory trademark infringement.
STORY: Kanye West Is Under Police Investigation for Misdemeanor Assault (Report)
According to the lawsuit, "Amazon.com and Jane Does Defendants have deliberately disregarded Plaintiffs' counsel's notification of the Infringing Websites and have otherwise consciously avoided learning about the full extent of the infringing activity that is continuing on the Infringing Websites."
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Kanye West Sues Amazon, Others Over 'Coinye West' Cryptocurrency