Category Archives: Cryptocurrency

Why OneCoin is NOT a Bitcoin Copy - OneCoinOneConcept - OneCoin - CryptoCurrency
OneCoin Rocks http://www.bit.ly/TTCReward Latest Updates Master Card Union Pay Card, linked directly to your #OneCoin Crypto Currency account in 30 da...

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Bitcoin - Cryptocurrency - Satoshi - Virtual Currency - Digital Dollars 2015
Please "Sucribe to my channel" and "LIKE" this Video! #Repost @victims_of_miseducation Lol sizzla went off in this interview on the world. He also mentio...

By: Evan Baum

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Auroracoin, the digital currency given as a free hand-out to every resident of Iceland, was supposed to be a a salvo for a country rankled by a broken financial system. It was heralded as the beginning of hyper-localized cryptocurrencies; it became the second-largest cryptocurrency before it even launched, valued at half a billion dollars at its peak.

And then it fell apart. A failure that's a blow to the entire crypto community, because as outlandish as it was, Auroracoin was launched in the right place at the right time, and it still crash-landed.

That right time was March 2014. When a mysterious entrepreneur proposed a bold plan to "airdrop" digital money upon the masses, the political climate in Iceland was ideal for introducing a radical idea.

Iceland was still reeling from the 2008 financial nuclear meltdown. Its largest private banks collapsed and the krna plummeted in value. It made the recession in the US that year look like the roaring 20s. Six years later, despite a rebound, the aftershocks were still harsh. Tight capital controls initially adopted to bolster the krna remained in place, limiting what Icelanders could do with their money.

Enter Auroracoin! It wasn't just a weird new novelty currency, it was a political statement: Creator Baldur Friggjar Odinsson wanted to "break the shackles of the fiat currency system in Iceland" by urging the country to adopt his coin. "The people of Iceland are being sacrificed at the altar of a flawed financial system," his manifesto clucked. It leaned on public sentiment that people deserved better than the limpid krna, that there needed to be some reparation for the immense damage done in the financial crisis.

Of course, "Baldur Friggjar Odinsson" isn't a real person. Like Satoshi Nakamoto, the furtive creator of Bitcoin, Odinsson is a pseudonym, a mashup of references to Nordic gods. Like Nakamoto, Odinsson concocted his own cryptocurrency, but its hooks were substantially different than Bitcoin. It was squarely aimed at one local population. It would start out 50% pre-mined by Odinsson, who would distribute a set number of coins in stages to each citizen of Iceland by using the country's Kennitala identification system. Everyone would get 31.8 coins just for being Icelandic.

It was also the right media moment. Auroracoin was catching a ride on a hype machine at its most powerful. The outlook was wildly optimistic, and the amped-up speculation skyrocketed the value of the digital coins.

But the swarming interest soon vanished.

Cryptocurrencies are notoriously volatile, but the popping of Auroracoin's hype bubble was especially hard and quick. Auroracoin lost over 50% of its value within a few days of its March 25, 2014 launch and never recovered. A month after it was gifted to them, less than 10% of Icelanders had picked up their free money, and the price fell and flatlined. It's now worth a paltry $.016 USD, down from over $30 at its highest. Like the northern lights it was named after, Auroracoin's brief rise was intense and ephemeral, a strange and likely unrepeatable phenomenon.

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No, a Cryptocurrency Can't Fix a Broken Economy

Morgan Spurlock, the documentarist who brought us theaward-winning film Super Size Me, now has an investigative show on CNN called Inside Man. His recent episode dealt with living only on the cryptocurrency Bitcoin for a week, taking the opportunity to discuss Bitcoin security and the impact on the Bitcoin exchange market when Mt.Gox lost nearly a billion bitcoin to theft. While Spurlock spent a great deal explaining how to secure bitcoins, he didnt offer nearly as much detail on how they can be stolen from whats supposed to be a highly protected exchange market.

Those tracking Bitcoin news probably noticed the growing string of Bitcoin services that have recently shut down. Some have filed for bankruptcy related to the plummeting value of Bitcoin, while others have closed their doors after being hacked.

Like in the case of Mt.Gox, which filed for bankruptcy in early 2014 after allegedly being hacked. The once popular exchange lost $27 million in cash and nearly a billion bitcoins worth close to $450 million at that time, and claimed that hackers were the ones responsible for the missing Bitcoins.

In a modern day twist on bank heists, hackers today are infiltrating these cryptocurrencyexchanges to get the bitcoins stored by the services. Even if the value of Bitcoin has significantly dropped since the latter part of 2013, a single Bitcoin is currently equivalent to $238.66. Now imagine getting a hold of 1,000 Bitcoins; thats a lot of money to spend.

But how easy it is to steal Bitcoins? Is hacking the only way to steal the digital currency? And is there actually a market for stolen Bitcoins?

Malicious software or malware can be used to infiltrate systems and obtain data covertly or make the system perform tasks surreptitiously. Malware can come in various forms and serve different purposes, including stealing Bitcoins. When installed in a computer, malware can start looking for a wallet.dat file or other commonly used filenames and directories related to Bitcoin wallets, and then transfer the needed files to the remote server. From there, a users key can be extracted from the wallet to start transferring the Bitcoins to another wallet.

Malware can also attack exchange services and steal user credentials by intercepting the login process. Another method includes man-in-the-browser malware, which waits until a user copies a Bitcoin address. The thief then replaces the copied Bitcoin address with his desired address so the Bitcoin will be transferred to the thief. A Bitcoin address is pretty complex and hard to memorize, which means users wont easily notice if the address has changed.

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What Morgan Spurlock left out of his Bitcoin documentary: How to steal bitcoins

Combining KYC and anonymity in cryptocurrency - Pavel Kravchenko
Bitcoin Meetup Zug, 16. February 2015 at Bitcoin Suisse AG Beer tip jar: 1H6QSmrq4KQJs3CdMGPQoYDriHwJfy7aVS Sorry for the bad sound quality, I #39;m still waitin...

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OneCoin New bomb video clip Cryptocurrency #1
My Registration link: http://www.onecoin.eu/signup/semurg Skype: george.nevin2012.

By: Yuriy Nessin

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Foreign Affairs Forum: Cryptocurrency Policy
Expert panels shed light on how the digital currency industry is affected by public policy. Thought leaders from public and private sectors discuss their vis...

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Foreign Affairs Forum: Cryptocurrency Policy - Video

AMD R9 Series Cryptocurrency Coin Mining PC Bitcoin
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AMD R9 Series Cryptocurrency Coin Mining PC Bitcoin - Video

How cryptocurrency can help create medicine
Goes in detail on how FoldingCoin and blockchain technology can help in the adoption of creating medicine on your personal computer.

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How cryptocurrency can help create medicine - Video

OneCoin The Future of Cryptocurrency - OneCoin One Concept International

By: OneCoin Romania-ProsperityTeam

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OneCoin The Future of Cryptocurrency - OneCoin One Concept International - Video