Why Bitcoin Should Be Broken into 'Bits'
Any form of money needs to be easily broken down into sub-units to allow an equal exchange for goods or services. And bitcoin is wonderfully divisible, with its smallest unit being the tiny 0.00000001 of a bitcoin - a unit known as a 'satoshi'. However, such divisibility does come with one disadvantage. The Bitcoin Wiki, a source of BTC-related knowledge, has a lengthy chart spelling out the large number of different bitcoin sub-units: including mBTC, μBTC and cBTC, and many more. But do you know what they stand for? Thankfully, there may be a better solution. Down to bits. A proposal....
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On July 17, BitPay announced the launch of Get Bits, a simple solution to Get bitcoins anywhere in the world. If "What is a Bitcoin?" is the number one question asked, perhaps "How do I get a Bitcoin?" is the second most asked. Buying bitcoins is one of the biggest hurdles to getting started; that's why BitPay created Get Bits. Get Bits lets you give and receive bitcoins to your friends through your Facebook. BitPay is a payment provider used by both Newegg and TigerDirect amount others. Its strongest competitor is Coinbase, which has just picked up Dell as its newest and largest partner.....
One major attribute of the Blockchain is the safety of data. Encryption is the most effective way to achieve data security. How crucial is this phenomenon for the future of Bitcoin? To read an encrypted file, you must have access to a secret key or password which enables you to decrypt it. AES-256 encryption can be broken. Following findings by students at the University of Toronto, huge integer numbers can be factored more quickly than previously thought possible, meaning encrypted files can be broken into as little as ‘100 hours compute time.’ In a publication, it states that ‘AES-256....
Israelis can now purchase bitcoins at their local exchange bureau thanks to a new collaboration between bitcoin exchange Bits of Gold and Global Money Transfer (GMT). The partnership with GMT means Bits of Gold can ensure it complies with current and future anti-money-laundering and know-your-customer regulations in Israel. At the moment, the maximum amount of cash people can change into bitcoins via Bits of Gold is 10,000 Israeli new shekel (around $2,800). Jonathan Rouach, CEO of Bits of Gold, said he has been passionate about bitcoin ever since he heard about it back in 2010. "I....
Russia’s mass media regulator, Roskomnadzor, has restored access to a major Russian crypto news portal. Bits.media was recently blocked as a result of proceedings in a regional court that its representatives were not even summoned to attend. Crypto News Site Bits.media Again Available to Russian Readers as Roskomnadzor Delists It Bits.media, the source for crypto-related news with the second-largest audience in the Russian-speaking space, has managed to win the cancellation of its blacklisting by Russia’s Federal Service for Supervision of Communications, Information....
Atlanta, Georgia-based BitPay has today introduced a new Facebook application that will allow users interested in bitcoin to get the digital currency from their very own friends over the social network. Dubbed 'Get Bits', the app is one of many solutions available for newcomers to bitcoin to get their paws on the highly talked about digital money. From BitPay: We're always looking to grow the Bitcoin space, and buying bitcoin can be the biggest hurdle to getting started. Get Bits is an easy way for newcomers to get bitcoin through their Facebook friends. As we release the API - and....