Category Archives: Bitcoin

If youre still a bit clueless as to what Bitcoin is, you might want to head to New York and catch a screening of The Rise and Rise of Bitcoin at the Tribeca Film Festival.

The Rise and Rise of Bitcoin is a documentary made by brothers Nicholas and Daniel Mross. Daniel is a software developer and a former Bitcoin miner, while Nicholas was the one in charge of documenting the Bitcoin world as experienced by his brother.

The film dives into the world of Bitcoin just as Daniel got involved with it in 2011. It goes into the basics of Bitcoin, such as mining, terms used, what exchange markets are, the whos-who of the Bitcoin community, and everything a newbie needs to know before deciding if he or she wants to get involved in a cryptocurrency that has gained a lot of attention, especially in 2013 when its value hit the $1,000 mark.

The film also lightly touched upon the controversies the Bitcoin community was faced with in recent months, such as the arrest of BitInstant CEO Charlie Shrem, the fall of Mt.Gox, the FBIs takedown of the Silk Road, and the controversial fingering of one Dorian Nakamoto as the real Satoshi Nakamoto.

The film presents these bumps in the road as events of little consequence to the Bitcoin community; something that had to happen for the cryptocurrency to mature.

We wanted to stress, too, that bitcoin is a piece of software and its public domain. So anything that you tie to it, any externalities, dont actually have to do with it.

Its just a computer program. People are using it a lot of different ways, and thats what we tried to show, that theres a lot of different ways people are using it. So, to tie it to just one-particular-use cases, is a little bit short-sighted, I think, Daniel stated.

After the premier screening of the film, a panel was held which was moderated by New York Times financial markets reporter Nathaniel Popper. Daniel and Nicholas were open to questions from attendees who were mostly from the Bitcoin community, and surprisingly, Shrem was also in attendance albeit wearing an ankle monitor as hes currently under house arrest for money laundering charges. Shrem tried to make light of the situation he is currently facing and remains positive for his future, Bitcoin, and his involvement in the cryptocurrency.

Bitcoin belongs to everyone, theres a place for Bitcoin in the heart of every person. Someday 10 years from now, 20 years from now Bitcoin will be powering underlying infrastructure of our banking system, or the way I send money to you, or to me, or from one person in China to pay for a surgery that needs to happen at 2:00 in the morning on a Saturday night, or for anything, Shrem stated.

Shrem added that he sees Bitcoin as the peoples currency and anyone can be involved in it.

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Bitcoin the movie: It just had to happen

Bitcoin

Bitcoin is an experimental, decentralized digital currency that enables instant payments to anyone, anywhere in the world. Bitcoin uses peer-to-peer technology to operate with no central authority: managing transactions and issuing money are carried out collectively by the network.

The original Bitcoin software by Satoshi Nakamoto was released under the MIT license. Most client software, derived or "from scratch", also use open source licensing.

Bitcoin is one of the first successful implementations of a distributed crypto-currency, described in part in 1998 by Wei Dai on the cypherpunks mailing list. Building upon the notion that money is any object, or any sort of record, accepted as payment for goods and services and repayment of debts in a given country or socio-economic context, Bitcoin is designed around the idea of using cryptography to control the creation and transfer of money, rather than relying on central authorities.

Getting started

A. Bitcoin is a peer-to-peer currency. Peer-to-peer means that no central authority issues new money or tracks transactions. These tasks are managed collectively by the network.

Q. How does Bitcoin work?

A. Bitcoin uses public-key cryptography, peer-to-peer networking, and proof-of-work to process and verify payments. Bitcoins are sent (or signed over) from one address to another with each user potentially having many, many addresses. Each payment transaction is broadcast to the network and included in the blockchain so that the included bitcoins cannot be spent twice. After an hour or two, each transaction is locked in time by the massive amount of processing power that continues to extend the blockchain. Using these techniques, Bitcoin provides a fast and extremely reliable payment network that anyone can use.

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Bitcoin

By Saumya Vaishampayan, MarketWatch

NEW YORK (MarketWatch) Bitcoin is the hottest investing trend since the Internet, according to venture capitalists who have sung its praises. But the money hasnt exactly followed.

Venture capitalists invested $74.1 million in bitcoin startups across 39 deals in 2013, according to data provided by CB Insights. Thats less than a third of what Internet companies raised in first-round funding in 1995, when Internet leaders like Yahoo, Inc. /quotes/zigman/59898/delayed/quotes/nls/yhoo YHOO -1.42% and eBay Inc. /quotes/zigman/76117/delayed/quotes/nls/ebay EBAY -0.15% were just getting off the ground.

In fact, for all the predictions that bitcoin is on the cusp of blowing up the traditional financial system, investors have largely kept to the sidelines. The last round of funding raised by Oculus VR the maker of virtual-reality goggles that Facebook Inc. /quotes/zigman/9962609/delayed/quotes/nls/fb FB -2.72% agreed to acquire last month was more than all of bitcoins VC haul in 2013.

From an aggregate standpoint, a hundred million bucks in venture is a pittance. Its a rounding error, said Matthew Roszak, co-founder of the venture-capital firm SilkRoad Equity. He has a portfolio of 10 bitcoin investments.

Some industries are likely attracting more funding because they are bigger. Software companies attracted $11 billion in VC funding last year, the most of the industries surveyed, according to the MoneyTree Report from PricewaterhouseCoopers and the National Venture Capital Association, which uses data from Thomson Reuters. The software industry also attracted the most deals, and when that number is taken into account, the average software investment isnt among the highest.

Interest in bitcoin has started to pick up this year. VC investments in bitcoin-related firms rose to $64.9 million across 14 deals in the first quarter, nearly 90% of the money raised last year, according to CB Insights. If funding kept up that pace, it would top $200 million this year.

But its coming from the far back of the pack. The average bitcoin investment was $1.9 million last year. The average investment in biotech, on the other hand, was $9.6 million.

These small-potatoes investments have flown in the face of expectations that the digital currency will bulldoze the way the world uses money, leaving old intermediaries like banks and credit card companies in their wake.

Were still in the very early innings of the bitcoin industry as a whole. If you compare it to the Internet industry, were probably back in 1995 or 1996 and right now its all about infrastructure, said Pamir Gelenbe, a venture partner at Hummingbird Ventures. His firm in late March led a $5 million funding round for the virtual-currency exchange Kraken.

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Market Extra: Bitcoin is like the early Internet, minus the VC money

Live Butterfly Labs Mining Cam- Take My BitCoins- win free Bitcoin
Take My Bitcoins is the new game show that gives away an average of 4 BTC a week!! How much will we mine for our May 1 show on our Butterfly Labs Miner? Take a guess on Twitter http://www.takemybitcoins.t.

By: Stupid For Money

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Live Butterfly Labs Mining Cam- Take My BitCoins- win free Bitcoin - Video

Bitcoin and the Internet of Money
Cryptocurrencies are profoundly disrupting the way payments, digital assets and applications around them are created, distributed, verified. Similarly to the introduction of HTTP and the web...

By: David Orban

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Bitcoin and the Internet of Money - Video

Virgin Group founder Richard Branson, why he #39;s decided to accept Bitcoin for space travel?

By: Melanie Reyes

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Virgin Group founder Richard Branson, why he's decided to accept Bitcoin for space travel? - Video

Bitcoin for Dummies
You #39;ve probably heard of Bitcoin, but is it cyber gold worth gathering or the next big flop waiting to happen?

By: MoneyTalksNews

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Bitcoin for Dummies - Video

Video: Roundup of This Week #39;s Bitcoin News 25th April 2014
Bye-bye Gox and hello BTC debit cards! Not entirely sure what I #39;m talking about? Take a look at this week #39;s news roundup to get up to speed with the latest developments in the world of digital...

By: CoinDesk

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Video: Roundup of This Week's Bitcoin News 25th April 2014 - Video

China Bans Bitcoin Again -- Bitcoin the Movie -- Startup for Startups Raises 2,000 BTC
Join the MadBitcoins Patreon for behind the scenes content! Subscribe for as low as $5 a month! http://patreon.com/madbitcoins Vote MadBitcoins: https://blog.blockchain.com/2014/04/16/the-first-...

By: MadBitcoins

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China Bans Bitcoin Again -- Bitcoin the Movie -- Startup for Startups Raises 2,000 BTC - Video

Edan Yago - Free Market Bitcoin regulation and Honduras free trade zones.mp4
Click here to learn how to protect your wealth during the coming currency crisis http://www.successcouncil.com/sc/great_wealth_transfer.php?a_aid=5106e35d53c7e #maxwrightsc Edan Yago - Free...

By: Success Council

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Edan Yago - Free Market Bitcoin regulation and Honduras free trade zones.mp4 - Video