{"id":25840,"date":"2014-09-07T03:42:24","date_gmt":"2014-09-07T07:42:24","guid":{"rendered":"http:\/\/www.opensource.im\/?p=25840"},"modified":"2014-09-07T03:42:24","modified_gmt":"2014-09-07T07:42:24","slug":"cryptocurrency-made-simple-a-plain-english-guide-to-bitcoins","status":"publish","type":"post","link":"https:\/\/euvolution.com\/open-source-convergence\/cryptocurrency\/cryptocurrency-made-simple-a-plain-english-guide-to-bitcoins.php","title":{"rendered":"Cryptocurrency Made Simple &#8211; A Plain English Guide to Bitcoins"},"content":{"rendered":"<p><p>      The pitch from bitshares.org: Bitshares.org is an      organization of businesses, decentralized companies, and      individuals with a common interest in finding free market      solutions. At bitshares.org we are bringing together a      community of next generation entrepreneurs, investors, and      developers to build an economic revolution as significant as      the Industrial Revolution and the Information Age. Bitshares      is    <\/p>\n<p>      The world of Bitcoin and Cryptocurrencies is moving at an      incredible speed. The potential to create a new niche      using the technology which later turns into the next Dropbox      or Twitter is drawing in ever larger numbers of entrepreneurs      and innovators. This makes assessing whats out there very      difficult. If new companies pop up every    <\/p>\n<p>      Coinapult  The Company Coinapult was set up in 2012 by      Bitcoin veteranIra Miller, currently the CTO. It      aimsto solve one of the most difficult problems facing      merchants whowant to accept bitcoins for standard      transactions. If it does so (the beta was released at the end      of July 2014) it stands a credible chance of    <\/p>\n<p>      Can a quantum computer threaten the bitcoin network? From the      outside it looks like many other supercomputers: a shiny      black container with white light picking out its name.      To George Rose, CTO and inventor of the D-Wave quantum      computer, its far more than just another number      cruncher. The D-Wave is the worlda first commercially      available    <\/p>\n<p>      Ecuadors Congress is in the last few hours of debate on a      bill that would see its Central Bank set up a state owned      and run cryptocurrency as their official currency. The bill      will also make the operation and ownership of other      cryptocurrencies, such as Bitcoin and Litecoin, illegal.      Ecuador has used the US Dollar    <\/p>\n<p>      Should a newly independent Scotland adopt cryptocurrency as      its official coinage? An intriguing proposal from a credible      source suggests the answer should be yes. Read more    <\/p>\n<p>      The obvious answer to how Bitcoins originally gained their      value is to say when others started to buy them. Although      this was the mechanism, it wasnt the primary cause. Bitcoin      vpgained value when it began to be traded for real world      asset. The initial trade, famously now, was for a pizza. the      order was sent    <\/p>\n<p>      Ghash.io, Bitcoins largest mining pool, now controls over      51% of the hashing rate for bitcoin. This places      Bitcoin within the theoretical risk zone for an execution of      a 51% attack. Although there are no signs that Ghash intends      to do so, some have already started to take measures      independently to either safeguard their own cash,    <\/p>\n<p>      Why are they such a big deal? Cryptocurrencies have succeeded      in answering two of the fundamental problems with moving      money online: How do I stop we stop someone spending the same      money twice? How do we avoid middle men? If it gets      established, well all benefit from a faster, more secure way      to shop online.    <\/p>\n<p>      Scott Maxwell BSc (Joint Hons) CEng MBCS MIoD Bespoke      Consultancy | Keynote Speaker | Expert Media Commentary      Contact Email: <a href=\"mailto:scott@mscottmaxwell.com\">scott@mscottmaxwell.com<\/a>  Timeline      Independent Board Level Consultant October 2013       Present Brightsolid Online Publishing | Managing      Director February 2013  October 2013 Brightsolid Group      | Director of Development and Engineering March 2012       February 2013 Brightsolid    <\/p>\n<p><!-- Auto Generated --><\/p>\n<p>View post:<br \/>\n<a target=\"_blank\" href=\"http:\/\/cryptocurrencymadesimple.com\/\" title=\"Cryptocurrency Made Simple - A Plain English Guide to Bitcoins\">Cryptocurrency Made Simple - A Plain English Guide to Bitcoins<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> The pitch from bitshares.org: Bitshares.org is an organization of businesses, decentralized companies, and individuals with a common interest in finding free market solutions. At bitshares.org we are bringing together a community of next generation entrepreneurs, investors, and developers to build an economic revolution as significant as the Industrial Revolution and the Information Age. Bitshares is The world of Bitcoin and Cryptocurrencies is moving at an incredible speed. <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[869],"tags":[],"class_list":["post-25840","post","type-post","status-publish","format-standard","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/posts\/25840"}],"collection":[{"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/comments?post=25840"}],"version-history":[{"count":0,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/posts\/25840\/revisions"}],"wp:attachment":[{"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/media?parent=25840"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/categories?post=25840"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/tags?post=25840"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}