Digital
Currency
BlogDigital
Currency
Blog
Almost ready: our new WordPress blog
digitalcurrencyassociation.wordpress.com/blog
BitCoin address: for donations to help our outreach
3M7t7PxR9pViuEMd5HAbge8adjhQLmV6Zg
Physical
address:
Digital Currency Association
1629 K Street NW, Suite 325
Washington, DC 20006
BitCoin.org
- good introduction to Bitcoin
Bitcoin Phenomenon:
Youtube.com/watch?v=6pWblf8COH4
99bitcoins.com/category/Bitcoin-Basics-Class
Banking on Bitcoin documentary:
www.youtube.com/watch?v=qB8WAqLF200
www.YouTube.com/DigitalCurrencyAssoc
Over 100,000
places world wide to
spend Bitcoins
https://store.bitcoin.com www.spendbitcoins.com
How to get started: www.WeUseCoins.com
facebook.com/groups/digitalcurrencyassociation
Since we're all rich with bitcoins... we ought to put some of
this unearned wealth to good use - Hal Finney -
California Institute of Technology, Engineering 1979
https://www.youtube.com/watch?v=FvU_cg5uikw#t=11m0s
At the World Beyond War peace conference at the American University Center in Washington DC, the Association for Digital Currency enjoyed the honor of introducing Coleen Rowley (retired FBI), Ray McGovern (retired CIA), David Swanson (Conference organizer), Medea Benjamin (Code Pink), Bruce Trautman (Veterans For Peace), and other intrepid peace activists to Bitcoin and digital currency. We offered some BTC to Dr. Jill Stein (MD, Harvard, Green Party), who said she will ask her campaign finance manager to check on it, and contact me. We showed how Coinbase and a Trezor device works and got 53 people started.
Money is a score keeping system to track the goods and services we give to and
receive from other people.
A score board does not have to be made of gold or have an intrinsic value.
It must be mathematically accurate, and not able to be manipulated by any
players.
Bitcoin and digital currency provide this function, on a level playing field.
Monty Guild says "Digital Currency is here to stay"
http://guildinvestment.com/bitcoin/digital-currencies-mean-gold/?inf_contact_key=533c7f84b31d2018a16a8224f2a63dd96f65480a0ccebfe16832e8fe30975765
We could discuss why Bitcoin and Ethereum have enjoyed such support of natural
law. Sustainable digital currency embodies the Qualities of Creative
Intelligence.
www.BitRaam.com/SCI password:
mantra
Decentralized systems are how nature organizes things. - Andreas Antonopoulos
https://www.youtube.com/watch?v=gnNdLD1jMPs
http://www.bbc.com/news/business-39149475
https://www.ft.com/content/d3f76030-a03a-3f7e-9262-d43dbb438f8b
http://www.bitcoinvalues.net/bitcoin-geeks-top-5-bitcoin-millionaires.html
Roger Ver's $100k debate challenge https://www.youtube.com/watch?v=fxzb2mU9KII&feature=youtu.be
Steve
Forbes of Forbes Magazine
interview with Brian Singer of William Blair Investment Management
WBIM.
How Bitcoin Will End World Poverty
http://www.forbes.com/sites/steveforbes/2015/04/02/how-bitcoin-will-end-world-poverty
Bloomberg:
Where Smart Money Is Betting In Tech
http://www.bloomberg.com/news/videos/b/dde2f215-a193-40e7-bf5d-0528286a7a2b
Tim Draper, Draper University
How
to replace burnt PCI-e cable connectors
Keep a fan on your miners especially in the warm weather.
Or the PCIe adapters and power wires may start to get toasted.
You can replace them with SATA-to-PCIe adapters
Result of
experiments
http://www.visualcapitalist.com/bitcoin-changing-face-non-profits
http://people.hofstra.edu/geotrans/eng/ch7en/conc7en/stages_in_a_bubble.html
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https://www.youtube.com/watch?v=mptA7Hm-xFw
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Patrick
M. Byrne (PhD Stanford, MA Cambridge, BA Dartmouth),
the CEO of the online super store Overstock.com spoke at the
Bitcoin 2014 Conference in Amsterdam Holland.
http://www.overstock.com/bitcoin
https://www.facebook.com/groups/digitalcurrencyassociation
Dish
Network
First bill from Fairfield Iowa paid to Dish Network with Bitcoin.
New York Times: Dish Network to accept Bitcoin
- the largest company to do so
http://dealbook.NYTimes.com/2014/05/29/dish-network-to-accept-bitcoin
Wall Street Journal:
http://online.wsj.com/articles/dish-network-to-accept-bitcoin-payments
ABC News
http://abcnews.go.com/blogs/business/2014/05/dish-network-dish-to-accept-bitcoin-payments
Draper
University in San Mateo, California
http://draperuniversity.com/press-release-bitcoin-tuition
June 11, 2013
King's
College in New York City is the first university in the USA to accept Bitcoins. Here is an article about King's College in the New York Times
www.walmart.com/ip/Butterfly-Labs-Bitcoin-Miner-10-GH-S-Processor-USB-2.0
Unfortunately Wal-mart's miner is a slow piece of junk.
It is only 10 GigaHash/second with ancient 65 nm chips.
Are they kidding? It would take a year to pay for itself.
It is much better to get a 180 GH/s miner for a lower price.
from Association for Digital Currency certified
vendors.
However, we do applaud Wal-mart for being forward thinking.
We recommend the
Bitmain Antminer S3, a 480 GigaHash
per second
Bitcoin miner for $500,
plus $50 power supply
which pays itself off at $5/day
in about 110 days,
assuming the current BTC price of about $600.
GigaHash means billions of hashes per second,
necessary for the Bitcoin network.
A "hash", like a variety of foods, includes a variety of calculations and
functions.
The
Bitcoin mining machines are Application Specific Integrated Circuits (ASIC)
which perform a variety tasks automatically:
* Keeps the Bitcoin network lively on the world wide web
* Helps maintain majority rule of the valid programming code
* Process transactions - buying and selling of products & services
* Makes sure buyer and seller have legitimate 34 character codes
* Prevents duplicate spending of Bitcoin simultaneously
* Compressing and archiving the public transaction ledger
* Creates new coins on a timed schedule towards a max of 21 million
* Encrypts and decrypts transaction transmissions
* Prevents hackers, checks for unauthorized changes to the block chain
* Prevents overspending of accounts - impossible for BTC to bounce
* Sends receipts to buyers and sellers of the Bitcoin transaction.
* All the owner needs to know: the green light blinks as BTC is earned.
The Bitcoin network is programmed to reward miners with fractions of Bitcoins, in proportion to the work done by each machine.
Largest
Bitcoin mining operation in Americahttps://www.youtube.com/watch?v=BoT-y5FPoqw
Dave Carlson, and the largest Bitcoin mining farm in America,
generating $8 million in new coins per month, plus earning a percentage from
transaction, through processing fees. His farm is in the state of Washington,
which has the lowest electricity costs from the gravity driven Grand Coulee Dam.
Bitcoin can be easily translated into US$ Dollars through exchanges such as
www.CoinBase.com BTC-U$D ATM machines, and local exchanges. His farm uses 1.4 MegaWatts of electricity/month.
To get started with mining, we suggest the Bitmain Antminer S3
www.A-DC.org/video/BitcoinMinerUnpackInstall
http://shopping.netsuite.com/s.nl/c.CICORP/it.A/id.359/.f
Carslon has even more miners since the broadcast.
http://www.coindesk.com/bitcoin-embassy-launches-polands-capital-warsaw
www.bitcoin.polisforcongress.com
BTC: 16xtN7ZRArdrKEXKABFb2vNFMa8HDjK65a (Bitcoin)
BRM: HND8TDgotSL1uAkk2ooRue3od1RVMgbh51 (BitRaam)
University of Nicosia in Cyprus The first accredited, brick and mortar,
building-based university to accept Bitcoins for tuition, and to offer degrees
in Digital Currency.
http://unic.ac.cy - University of
Nicosia, Cyprus
Digitalcurrency.unic.ac.cy
- Masters Degree in
Digital Currency
Infrastructure -
buildings
Our premises
Degree overview
Curriculum
Semester breakdown
Program
coordinator
Faculty profiles
8500 students at multiple campuses
Dr. Christos Vlachos, CFO of Nicosia, on RT's
Max Keiser Show
https://www.youtube.com/user/MScDigitalCurrency
https://www.youtube.com/watch?v=4Nk4MZMNcu0
University
of CumbriaThe world's first university to accept Bitcoins for tuition
Certificate course in Sustainable Exchange
http://www.cumbria.ac.uk/study/courses/cpd-and-short-courses/sustainable-exchange/
Institute for Leadership and Sustainability (IFLAS)
Course fees can be paid with Bitcoin.
http://www.Overstock.com/bitcoin
the online super store now accepts Bitcoins
for payment for various items.
www.CheapAir.com
accepts Bitcoins for:
https://www.cheapair.com/help/payment-and-billing
1-800-CheapAir
TigerDirect.com/bitcoin
accepts Bitcoins Computer hardware and electronics
Bitcoin ATM machine on Capitol Hillhttp://time.com/56738/bitcoin-atm-comes-to-capitol-hill
http://www.foxbusiness.com/personal-finance/2014/04/08/first-bitcoin-atm-unveiled-on-capitol-hill/
http://www.forbes.com/sites/kashmirhill/2013/11/13/sanitizing-bitcoin-coin-validation/
Anonymize your Bitcoin transactions with Bitcoin Fog Company
http://fogcore5n3ov3tui.onion
A sample Bitcoin address is 19XsRPPHNiTaMZwMj1f9acycA1XznDsrbV.
There are upper letters, A through Z, except for O which looks too much like a 0
(zero), and I that looks like a 1, so that is 24 characters.
Then there are lower case a - z, except for l (el) which looks too much like a
1, so that is 25 more characters.
Then there are the numbers 1 through 9. Zero is omitted, which could look
like a lower case o.
So we have 24 + 25 + 9 = 58
Most addresses have 34 characters to them, so that would be
58 ^ 34, or 58 to the power of 34, which is huge.
This is more than 10 to the power of 59, like 1 with 59
zeroes or octodecillion.
100,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000
There
are about 904 octodecillion combinations
904,798,310,844,703,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000
As a memory aid, you could remember an "octopus in December"
The estimated number of atoms in the universe is 10 ^ 82
An octodecillion is a billon x trillion x trillion x trillion x trillion.
You can see this more clearly on this table of large numbers.
https://blockchain.info/address/1LNWw6yCxkUmkhArb2Nf2MPw6vG7u5WG7q
http://benswann.com/knowing-the-value-of-a-bitcoin
http://www.coindesk.com/congressional-report-warns-bitcoin-threat-dollar
Over 144000 - after
the seizure of Silk Road
This may explain their surprising acceptance of digital currency.
http://www.wired.com/wiredenterprise/2013/12/fbi_wallet
| Transaction Cost | Precious Metals | Fiat Currencies | Bitcoin |
| Storage | .15% - 1% per year | Subsidized by Fractional Reserve Banking | Free and 100% reserve |
| Transportation | Expensive | Inconvenient | Free and easy |
| Fiduciary media | Inevitable | Inherent | Impossible |
| Recordeeping | Manual | Manual | Automatic |
| Counterfeiting | Impossible | Inevitable | Impossible |
| Issueance | Mining | Politics | Algorithm |
| Payment clearing | Expensive | Centralized | Cheap and distributed |
| Scarcity | High | Arbitrary | Fixed at 21 million BTC |
| Authentication | Expensive assay | Trust counter-party | Built-in |
http://motherboard.vice.com/blog/bitcoin-becomes-a-real-job-and-wall-street-is-hiring
http://www.washingtonpost.com/blogs/the-switch/wp/2014/01/03/five-years-of-bitcoin-in-one-post
Paul Krugman tries scare
tactics
He calls Bitcoins "barbarism" and "evil"
even though he missed predicting the housing bubble
and hasn't predicted much at all.
Paul Krugman has been in academic jobs all his life.
He has never run a business and is not a Certified Financial Planner.
He has no people paying him for financial advice. He is not rich.
Yet the New York Times gives him a column to write. Go figure.
http://www.coindesk.com/tips-keep-bitcoins-secure
Cash
to Bitcoins with the Bitcoin Machine
Future Money Trends inteviews CEO Zach Harvey
http://futuremoneytrends.com/blog/?p=15849
“Bankers
Worst Fear”
FMTBlog.com/?p=10018
BankersWorstFear.com
Demo of www.BitcoinStore.com
LocalBitcoins.com - find a buyer or
seller in your area
http://www.zerohedge.com/contributed/2013-12-20/giant-us-retailer-accept-bitcoin
http://blog.coinbase.com/post/57483182558/you-can-now-send-micro-transactions-with-zero-fees
2013-09-25 Jefferson Club, Silicon Valley, Bitcoin
Cryptocurrency Course with Andreas Anonopolous
"The founder of Bitcoin (Satoshi Nakamoto) may be the world's first trillionaire"
www.youtube.com/watch?v=JP9-lAYngi4
Lots of good info from Andreas.
2013-12-15
This new service allows users to pay with BitCoin for books on Amazon.
http://techcrunch.com/2013/12/10/kryptokit-lets-you-pay-in-bitcoin-instantly-on-almost-any-webpage
Companies
like Western Union will face competition.
They charge $10 to send $100 to someone.
https://www.westernunion.com/price-estimator
But with Bitcoin it could cost only 5 cents.
http://www.nytimes.com/2013/12/15/sunday-review/the-bitcoin-ideology.html?_r=0
2013-12-12 Fox News
http://www.foxnews.com/tech/2013/12/10/jpmorgan-files-patent-application-on-bitcoin-killer/
I have been looking into mining contracts. But this one seems stupid.
http://mining.cointerra.com/product/200ghs-bitcoin-mining-contract/
Why would someone pay $999 - $1499 per year to mine at 200 GH/s
when they could simply buy 3 BitMain S1 units plus PS for $300 = $900
and mine at 3 x 180 = 540 GH/s?
Bloomberg
poll: 42% of Americans know about Bitcoins
http://www.bloomberg.com/infographics/2013-12-11/bloomberg-national-poll-december-2013.html
http://www.zerohedge.com/news/2013-12-13/42-americans-know-what-bitcoin
Life
on BitcoinA couple travels around the world
just using Bitcoin
lifeonbitcoin.com
There
are conferences about Bitcoin, where inventors show new ways to use it,
such as desktop BTC to USD converters for stores
http://bitcoin.org/en/events.
www.bitcoin2013.com/photos.html - lots of very smart geeks, many now
millionaires.
Guys with enough money to influence politicians, and run for office themselves.
The geeks shall inherit the Earth.
There's no going back to the old ways.
What is Money? - more ramblings on this topic
2013-12-10 The music of financial freedom:
www.ListenToBitCoin.com
Each transaction makes a note, with the pitch depending on the amount.
2013-03-29
Bitcoin Millionaires
vs. paper billionaires
Max Keiser on RT: Russia Today
Max was a millionaire even at $50 at the time
"Plenty of room for Bitcoins to go to one million dollars per Bitcoin"
Tony Gallippi of Bitpay
- for merchants
2013-12-12 End of the
monopoly for J.P. Morgan and Jamie Dimon
On Alex Jones 2013-12-13 Youtube.com/watch?v=q4TVXs1rvEI
November 22, 2013 http://www.youtube.com/watch?v=9v7h6gNIzto - a couple went around the world only using Bitcoins
Cameron and Tyler Winklevoss
Winklevoss
Twins - own an estimated 1% of all BitCoins
CNBC: "Bitcoin worth at least 100
times more"
Both: are Harvard graduates in Economics in 2004.
Started ConnectU at Harvard, the basic idea behind Facebook
Rowed in the Olympics in Beijing in 2008
Got an MBA from Oxford in 2010
Multi-millionaires by age 32
Bitcoin
vs. Gold Debate - Peter Schiff vs. Stefan Molyneux
Update: Peter Schiff now accepts Bitcoin
The days are ending for the Federal Reserve being able print money people will accept, at will, for financing wars, surveillance satellites, terminator robots, germ warfare, and other things the public did not vote for, and does not want.
2013-11-30
Full Story: Bitcoin
2013-11-19 Bloomberg News
Ron Paul on gold, Bitcoin, Immigration, Republican party
www.dailypaul.com/306907/ron-paul-bitcoin-could-destroy-the-dollar
2013-11-19
Senate Hearing on Digital Currencies - Bitcoin - November 18, 2013
Money is based on consciousness.
The collective consciousness of a community or nation determines the value of
something as money.
If a sufficient number of people accept Bitcoins, then it is usable money.
If not, then not.
As long as vendors, with something you want to buy, accept Bitcoins, that is
what matters..
The value of BTC is not fixed in stone, or even in gold or silver.
Money is a way of assigning a number to the value of goods and services we give
or receive..
What better platform than a math algorithms stored on a network
of computers?
Bitcoins cannot be counterfeited. Each of the 21 million has a unique
identifier.
There is constant oversight by the network over the validity of Bitcoins being
used.
So everyone will have to provide some useful product or service to get rich.
What is used as money is a matter of the popular vote.
9 Year Old starts first BitCoin lemonade stand
BitCoin Vending Machine
Converting cash to BitCoin and BitCoin to Cash
BitCoin machines at coffee shops. It doesn't get more liquid than this.
Liquidity was a valid concern before this.
Banking with no more fees.
I applied for some machines from RoboCoinKiosk.com to put around DC.
Edison's Revenge on the Dollar
http://moneymorning.com/ext/bitcoin/videos/video-bitcoin.php?src=jetbuzz&ad=cities
I like computers, the internet, and money.
So computerized, internet-based money is fun.
Money for nothin' Coins for free. :)
https://www.youtube.com/watch?v=2EEfITbTnjc
2013-11-28 A Thanksgiving shout out to my friend Diana "Dehackna" who encouraged so many of her Facebook friends to buy Bitcoins.
I have tried MtGox.com and it is too slow and complicated,
requiring a drivers license, etc.
It is based in Japan.
CoinBase
is American based, for whatever that is worth, in San Francisco, California
I feel better about it, even though it may be monitored by the NSA.
At lease we can contact their technical
support@bitcoin.com in English.
Here is good web site of charts to see how BitCoins are doing:
www.bitcoincharts.com/charts/mtgoxUSD#rg60ztgSzm1g10zm2g25zv
2013-09-25 Bitcoin Cryptocurrency Crash Course with
Andreas Antonopoulos
Excellent overview
www.youtube.com/watch?v=JP9-lAYngi4
2013-09-27
Truth
about Bitcoin Good
interview by Stefan Molyneux
2013-05-07
Barr Chilton, US Commodity Futures Trading Commission calls for regulation of
Bitcoins, if futures on their price is traded, not the Bitcoins themselves.
"Bitcoin is serious, not monopoly money."
http://video.foxbusiness.com/v/2363412452001
At the time, Bitcoins was about $100.
2013-04-16
Bitcoin takes power
from both banks and gangsters
It took experiencing and getting my feet wet for me to "get it"
about BitCoins.
That's why I suggest buying at least a nominal amount at first, such as $100
worth.
My father said "Bit what?" when I suggested he put a small amount, such as
$1000 into his retirement plan.
By next year, everyone will know what a BitCoin is.
November 2013 has been an amazing month for BitCoin.
I cannot think of anything else that went up so fast,
nor any reason it would not reach $5000 eventually. If you can, please let me know.
I am accepting BitCoins for data conversions and rent from my tenants,
and am trying "BitCoin mining" with my
computer network.
I dedicated my C10, a triple core computer, which normally was used for
brute force cracking of databases from customers who lost passwords.
I joined an online pool of miners, and hopefully we will make some Bitcoins.
It seems to have something to do with finding up to 21 million prime numbers.
http://techcrunch.com/2013/04/08/how-to-mine-bitcoins/
Once all 21 million Bitcoin numbers are found, the mining will cease,
and it will become commodity that can no longer be created.
About 12 million have been found now. So I expect the BTC value
to rise greatly after almost all the 21 million have been found.
People have become multimillionaires within a few years in BitCoins.
Here is an article from April when they were "just" $258.
http://www.businessweek.com/articles/2013-04-10/meet-the-bitcoin-millionaires
That's the bottom line, getting rich, not necessarily in dollars.
We eventually get what we desire, especially during deep meditation.
If our goal is to have "$1 million dollars" what if the dollar becomes
worthless?
We should think in terms of the purchasing power we want, regardless of
currency.
BitCoins are revolutionizing the economy and the way we purchase things.
It helps us realize what money is, in the first place, a way to put a number
on the value of goods and services that we provide to, and receive from, others.
When you buy something with your AmEx, about 3% goes to American Express.
When you buy something with BitCoin, there is no finance fee.
There is great potential when the internet helps cut out another middle man.
I wanted to give my lady a gold eagle, and realize what a pain it is to do so.
I would have to ask (and trust) someone to go to the bank, or fly there.
My assistant would have to open my safety deposit box, not take the other coins,
and send one to me FedEx.
It would cost me $20 if my assistant did it for me, plus $20 for insured
shipping,
thus losing $40. But with a BitCoin, I can simply send her $1250 with my smart
phone.
I thought the Government or Federal Reserve might crack down on BitCoins,
but they did the opposite, by praising them, and not ruling to regulate at this
time.
http://www.washingtonpost.com/blogs/the-switch/wp/2013/11/21/heres-how-bitcoin-charmed-washington/
The Government wants to get rid of the $17 trillion in debt, and if the dollar
is devalued,
then it is easier to do that. So other things measured in dollars, such as
stocks,
will appear to go up, even if their true value in buying power is going down.
What can the US Govt do when Bitcoins are popular in China, Russia, and other
countries?
With the internet, Americans would simply make their transactions overseas.
We definitely have inflation. Look at the airline prices.
I used to be able to go to Chicago for under $100. Now it is hard to find
flights under $200.
I used to be able to buy a week of food for $50, and now the Rick Basket it is
$100.
Disclosure:
If you click this link, I get $5 of BitCoins. It won't cost you anything more
than going to BitCoin directly
https://coinbase.com/?r=528c3e09f1560078000000e3&utm_campaign=user-referral&src=referral-link
CNBC on BitCoin merchants: from plastic surgery to haircuts
http://www.cnbc.com/id/101214879/page/1
In the
Star Trek TV series andmovies, citizens of the
United_Federation_of_Planets use Credits instead of money. For
example, Lt. Uhura offered to buy a Tribble for 10 credits. Mr. Spock estimated
that Star Fleet invested 220200 credits in his training.
Federation Credits are not physical, and may be similar to Bitcoins.
Reuters: Bitcoin price zooms through $1000 as enthusiasm grows
http://www.reuters.com/article/2013/11/27/bitcoin-trade-idUSL2N0J19320131127
RT - Russia Today
US Clamps Down on Bitcoin
(through Dwolla), Fears Lack of Control
Norwegian Man Forgets about $26 Bitcoin Investment, Makes $850,000
http://www.hufffingtonpost.com/2013/10/19/bitcoin-investment_n_4175421.html
2013-03-09
Keiser Report: Bitcoin Millionaires vs Paper Billionaires
Here are some practice pages for how to get paid via BitCoins.
Alex Jones was wrong on Bitcoins
The Coming Bitcoin collapse [Infowars] April 12, 2013
18:00 point. Mike Adams says: greed turns to fear
Thank you to Adam Kokesh of www.AdamVsTheMan.com for suggesting BitCoins in 2012.
|
Charlie Shrem - Bitcoin Foundation |
What is Bitcoin and why is it important? Nov 28, 2012 |
Adam vs. The Man - BitCoin Edition March 10, 2013 |
Adam has also spoken about LiteCoin
|
Bitcoin hits $200$ Time for Litecoin! |
Bitcoin is MySpace, Litecoin is Facebook April 11, 2013 |
Litecoin is Magnitudes more secure than Bitcoin April 25, 2013 |
I used to think it would take a lot of hard work to become a
millionaire.
All it could take is awareness, $50 and a few clicks of the mouse at the right
time.
Preev.com is a good site for conversion from BTC to USD
2013-11-27
If you bought 1000 BitCoins for 5 cents each in 2010 for just $50, it would be worth $1 million when BTC =$1000
| Price per BitCoin | Date | Price for 1000 BTC | DaysBetween | DaysSince7/17/2010 | Daily income |
| $0.05 | 07/17/10 | $50.00 | |||
| $0.10 | 10/09/10 | $100.00 | 84 | 84 | $0.60 |
| $1.00 | 02/12/11 | $1,000.00 | 126 | 210 | $4.29 |
| $10.00 | 08/02/12 | $10,000.00 | 537 | 747 | $12.05 |
| $100.00 | 04/01/13 | $100,000.00 | 242 | 989 | $91.00 |
| $1,000.00 | 11/27/13 | $1,000,000.00 | 240 | 1229 | $732 |
Projection at this rate:
| $10,000.00 | 07/25/14 | $10,000,000.00 | 240 | 1469 | $6,126 |
| $100,000.00 | 03/22/15 | $100,000,000.00 | 240 | 1709 | $52,662.38 |
https://www.youtube.com/watch?v=JP9-lAYngi4
Distributed, secured, time stamped database
Merkle tree
August 13, 2009 was the first Bitcoin transaction
539 TH as of Sept 11
sha256 miners
8% of GDP
min transaction fee 1/2 cent
fixed fee
Bitcoins will help
international remittance (taking business from Western Union)
inter bank transfers
What helps a country adopt digital currency?
educated population
electricity
access to internet
smart phones
192
US is reserve currency
2 TH miner
for $6000
https://www.youtube.com/watch?v=8ZVXmWAOIKE
Bitcoin Mining - First
Payout
https://www.youtube.com/watch?v=8ZVXmWAOIKE
| Corporate | Network | Software | |
| Napster | centralized | centralized | centralized |
| Kazaa | centralized | decentralized | centralized |
| Gnutella | decentralized | decentralized | decentralized |
| BitTorrent | decentralized | decentralized | decentralized |
| Main Points | SCI Points |
| A transaction on one computer influences the world wide transaction log | Infinite correlation |
| It is easy - no more high fees and wait to transfer money | Do less, accomplish more |
| The block chain is a distributed transaction ledger on the world wide web | Order is present everywhere |
| The process of "mining" initializes digital coins in the system. | Manifest from the Unmanifest |
| Money is based on consciousness. A dog will prefer a bone to a $100 bill. People accept paper currency based on their opinion of it. | Knowledge is structured in consciousness |
| Fiat currencies, creating money at the will of government agencies (such as the Federal Reserve in the USA), causes inflation, forcing the citizens to work ever harder. | Purification leads to progress |
www.BlockChainInfo.com - online wallet
Max Keiser
https://www.youtube.com/watch?v=_Q684UxfDSU Maxcoin
https://www.youtube.com/watch?v=XGFiqrGEPmA#t=12m44s Chamber of Digital Commerce
