Understanding the Underlying Value of Bitcoins
Publishers using the Bitcloud network will need to pay in cryptocurrency. Understanding the underlying value of bitcoins is rather difficult right now because there aren't many places where you have to use Bitcoin to make a payment. For example, one of the main reasons local fiat currencies have value is that the citizens of that country have to use the national currency to pay their taxes. When you have to use a certain currency to make a payment, it gives that currency value in the eyes of the people. Although there are already a few instances where you have to use Bitcoin to make....
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Retired investment banker and former US Treasury adviser to Croatia Martin Hutchinson recently penned a hit piece in which he made clear two things. One, he does not understand how Bitcoin mining works and two, this lack of understanding leads him to believe that Bitcoin will fall flat on its face in 2015. In his article for the Reuters Breakingviews site, he uses outdated metrics as well as a clearly weak understanding of how cryptocurrency works to make this prophecy. Also read: The End of Bitcoin is Always Nigh For Traditionalists. [Bitcoin] is controlled not by a state but by an....
An understanding of what bitcoin is, how it works and its various features and benefits have, in the bitcoin space, traditionally been viewed as a key component of mainstream adoption. How can the general public be expected to switch from things like PayPal, fiat, Visa etc., if they don’t understand how what they are switching to works? There is some common sense in this view. Individuals who lack an understanding of cryptocurrency are more often than not intimidated by its seeming complexity, and this puts them off using it to transact. The conclusions of a recent study, however, go....
According to a recent account by a member of the BitcoinTalk community, it appears that certain members of the Federal government have a much deeper understanding of Bitcoin than previously thought. The poster says that during a raid, the government knew to seize unused Trezor wallets and transfer seized bitcoins to their own bitcoin wallets. Hardware wallets, when used correctly, are a highly recommended way to store bitcoins. Understanding how to keep bitcoins secure is a fundamental problem that any new user will face. To quote the poster directly: When "homeland security" raided our....
The uses of Blockchain technology is virtually endless, but it will take time for the industries to adopt it. The potential applications of cryptocurrencies and its underlying blockchain technology have been hailed by almost all the industries so far. Blockchain technology is probably the most versatile of all the technologies so far, right after the internet perhaps. Even though its potential applications in various industries has already been endorsed by experts in both cryptocurrency and other fields, there are still doubts among select few. A leading online tech magazine, in one of its....
If 2013 and 2014 were the years of the bitcoin exchange, then surely 2016 is the year of the enterprise blockchain. In other words, there seems to be a common understanding in the community that somehow, someone, somewhere needs to make blockchain technology more familiar and consumable for large companies looking to leverage it. Whether they are building using the bitcoin protocol, the Ethereum protocol or something else entirely, there now exist a number of startups for which this is their purpose. Of course, within that group, different companies have chosen different strategies and....