MultiBit's Jim Burton: Satoshi's Vision of a Peer-to-Peer Currency Needs Bigger Blocks
Jim Burton, the British lead developer of "lightweight" Bitcoin client MultiBit, favors a rapid block-size increase in order to allow for more transactions on the network, rather than focusing on layers built on top of Bitcoin. "Philosophically, we think that Satoshi's vision of a peer-to-peer currency needs bigger blocks," Burton told Bitcoin Magazine.....
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Multibit, a well-known bitcoin wallet, is one of the most popularly downloaded wallets. But what some people may not know is that the whole team consists of 2 developers; they’re having trouble supporting a larger user base. On top of the fact they have day jobs and the project is sustained off of only donations, so they decided to implement what they called BRIT, or Burton-Rowe Income technique. Essentially, Multibit is charging a 1000 Satoshi transaction fee, which is 1/10 of the 10,000 Satoshi “Miners Fee”. Proceeds will help support Multibit Project and upcoming projects, such as....
MultBit has been quietly dropping scraps of information about its new MultBit HD wallet for months now. At the recent Bitcoin2014 conference, Jim Burton and Gary Rowe of MultiBit gave CoinDesk a hands-on preview of the new software. One of the most popular wallets out there, MultiBit gets around 4,500 downloads every day. Since its launch in 2011, MultiBit has been downloaded 1.8 million times. That's a lot of users and a great deal of pressure when it comes to producing a product that will last. Rowe said: "We wanted [to build] software that could scale up to tens of millions of people."....
The Journal of Peer Production, an academic publication dedicated to exploring, investigating and promoting what they consider to be the emergence of a new, peer-to-peer, economic model in society, hasannounced a call for papers for a special issue of their journal on the topic of "value and currency in peer production." The Journal of Peer Production has covered a wide range of topics in the area of peer-to-peer economy, ranging fromfile sharing in Sweden tothe emergence of governance in the open source FreeBSD project and evendo-it-yourself biology, and is now looking for answers to one....
Note from the Author: The following article refers to traditional Bitcoin <-> Fiat currency exchanges. Examples such as LocalBitcoins and Bittylicious are not included, as they already exist. The number of true peer-to-peer exchange platforms is still fairly low, which is what is being addressed below. Bitcoin exchanges are the premier solution for....
These new regulations will also have an impact on Bitcoin in China. Since cryptocurrency does not fall under these regulations, it may become the new peer-to-peer lending option. Peer-to-peer lending has always been a very popular trend in China. That is not entirely surprising, as the country is keen on innovation and embracing new trends. But there have been a fair amount of problems with P2P lending in China over the past few months. New rules have been announced, which will put a vice grip on this innovative business model. At its core, any peer-to-peer service should not shut down....