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Utah Bitcoin Community

Utah Bitcoin Community

Bitcoin is a new digital online currency that is decentralized and uses cryptography to secure the network, it allows anonymity in transactions, essentially eliminates fees, and can potentially reduce or eliminate the need for third party online(or even personal) payment systems such as Banks, credit cards, and PayPal. I noticed there is no Bitcoin meetup in Utah so I decided I would take some initiative and create a meet-up to get the ball rolling here in Salt Lake City! Basically we will come up with a topic for every meeting in order to educate, create, and network all things Bitcoin and Bitcoin related. In such an early stage of development, I predict, along with many others from Silicon Valley, that the future of Bitcoin is very bright indeed. This meet-up welcomes hackers, programmers, entrepreneurs, tech savvy individuals, but you don't need to be any of the above to appreciate what Bitcoin can do, these meetings are very much open door to anyone who wants to take the time to discover a great new technological and economic experiment with great potential. Continue reading >>

Five Myths About Bitcoin

Five Myths About Bitcoin

The underlying technology securing bitcoin is known as the blockchain. (Nov. 29, 2017)(Sign up for our free video newsletter here ) The underlying technology securing bitcoin is known as the blockchain. (Nov. 29, 2017)(Sign up for our free video newsletter here ) Joseph Bonneau and Steven GoldfederBloomberg View This month, bitcoin , the digital currency launched by Satoshi Nakamoto in 2009, hit a record price of $17,428.42 per coin. It got its own futures market at a traditional brokerage firm, and it even earned a joke in a recent "Saturday Night Live" sketch. Perhaps because of its complicated technical design, zealous community of advocates and famously mysterious founding story (its creator was unknown for years), a variety of widespread myths about bitcoin have persisted. Here are five. Myth No. 1: There is a finite supply of bitcoin. Bitcoin has been described, per the title of one book, as "digital gold," because it is supposedly impossible to create more than the 21 million units already planned for circulation. This past week Goldman Sachs published a research report stating that "bitcoin has a mathematically certain total supply." Modern-day gold bugs, such as Ron Paul, like the idea that no government can debase bitcoin by increasing the supply. Yet there is no guarantee that the supply of bitcoin won't change. The currency's original design calls for the 21 million units to be slowly created over the next 100 years or so. But the protocol can be amended by community consensus - a majority of participants in the bitcoin network - as has already occurred several times, such as an update that helped users specify payment conditions. So far, the bitcoin community has fiercely defended the planned finite supply and is notoriously change-averse. But politics amo Continue reading >>

#thankyouandreas - The

#thankyouandreas - The "toxic" Bitcoin Community Strikes Again

#ThankYouAndreas - The "toxic" Bitcoin community strikes again Andreas Antonopolous received ~$1.5 million in bitcoin donations the past week - for a community that is constantly portrayed as divided, it was an impressive display of solidarity. Andreas Antonopoulos is easily one of the most valuable people in the cryptocurrency space. From the early days, he has made it his mission to propagate Bitcoin to the masses, breaking the technical aspects down into much more palatable explanations he was the ideal candidate to introduce cryptocurrency to the Canadian Senate. Antonopoulos was one of the evangelists that attracted me to crypto, and one whose work I recommend to beginners and seasoned veterans alike. One of the unwritten laws of the crypto space is that, at any given moment, there always has to be one loud challenger to the Bitcoin network receiving far too much attention. So far, weve seen everything from terrified bankers fearing the collapse of financial institutions to egomaniacs attempting to derail the network for their own gain. Since the spectacular implosion of the Segwit2x, the latest opponent to resurface is Roger Ver an entrepreneur who was best known for funding a range of Bitcoin startups in its earlier days, but has since shifted his focus to spearheading adoption of Bcash . Other notable achievements include a conviction for selling explosives and getting outraged when people dont use the official name for a purportedly decentralised currency. When Ver decided to shame Antonopoulos for not being a millionaire, despite his early interest and evangelization of Bitcoin, the community reacted. A few days ago, the following exchange occurred on Twitter: I did invest, Roger. Then I sold in 2013 to pay my rent. I didn't have disposable income to work for Continue reading >>

Bitcoin Community Public Group | Facebook

Bitcoin Community Public Group | Facebook

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Bitcoin Community In Barcelona Is Thriving

Bitcoin Community In Barcelona Is Thriving

Bitcoin Community in Barcelona is thriving Since inception in 2013, organization promoting use of cryptocurrency boasts membership of over 2,400 people The Barcelona Bitcoin Community is thriving. Since its inception in 2013, it has been growing steadily, and now boasts a membership of over 2,400 people. And over the years, as interest has been growing in cryptocurrency, more and more communities have been created, including Blockchain Catalunya , which was founded last year. It aims to bring all the communities together. Their shared goal? To raise awareness of the possibilities of cryptocurrencies. But what is bitcoin? It is a form of digital money based on cryptography. Encryption is used in the regulation and generation of units of currency, allowing the transfer of digital funds, based on the bitcoins current worth. There is no need for transactions to pass through a central bank or financial system, as is the case with traditional forms of trading. As bitcoins are based on algorithms, no two are the same. The value of one bitcoin at the time of writing was 8,596. On Thurdsday, the Barcelona Bitcoin Community held one of its regular meetings at Itnig in the Poble Nou neighbourhood of the Catalan capital. In the last few months interest has been growing, probably due to the rise in price, and there are more communities popping up everywhere, said Carlos Steinblock, a promoter for Blockchain Catalunya. Bitcoin has been hitting the news a lot recently. For many this cryptocurrency either sounds like a way to make, or lose, money quickly, or the realm of the tech-savvy. The value of a bitcoin is volatile. Last year, the price of just one bitcoin surged by 1500%, and this year has already seen it steadily decrease in value. But there is an ideology behind this quintess Continue reading >>

An Open Letter To The Bitcoin Community To Change The Proof-of-work Algorithm

An Open Letter To The Bitcoin Community To Change The Proof-of-work Algorithm

An open letter to the Bitcoin community to change the proof-of-work algorithm One of the reasons many of you got into Bitcoin was the fact that it was decentralized. But did you know that this is slowly changing? More and more of the network hashrate is starting to become concentrated into the hands of one man and his company. The security of our network essentially depends on them acting honourably, and us being prepared to respond to it. They get more powerful each day. Based on conservative estimates of gross margin of 75 percent and operating margin of 65 percent, Bernstein analysts calculate that Beijing-based Bitmain made $3 billion to $4 billion in operating profits in 2017 As long as they control the majority of the hash rate, the only way to keep the network secure is the threat of a hard fork to a new PoW, but this will only work for as long the community is reasonably small and still overwhelmingly shares the same morals for a decentralized Bitcoin. In a decentralized system, we shouldnt be put into a position where we rely on a centralized point of failure to behave themselves. People talk about new entrants to the mining scene, but its almost impossible for anyone to catch up to the total domination of the mining space by BITMAIN. They are light years ahead. That $4 billion dollars of profit will be used to build even better hardware, allowing them to further dominate mining for the foreseeable future and likely buy stakes in their competitors. The hashrate has already been abused to give political support to reckless and dangerous hard fork attempts. They have questionable allegiance to Bitcoin at best, seeming more interested in supporting Bitcoin Cash, undermining the very network that employs them. Even more dangerously, they are based in China, a coun Continue reading >>

Bitcoin - The Currency Of The Internet

Bitcoin - The Currency Of The Internet

use the following search parameters to narrow your results: include (or exclude) results marked as NSFW Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. As such, it is more resistant to wild inflation and corrupt banks. With Bitcoin, you can be your own bank. If you are new to Bitcoin, check out We Use Coins and Bitcoin.org . You can also explore the Bitcoin Wiki : Do not use URL shortening services: always submit the real link. Begging/asking for bitcoins is absolutely not allowed, no matter how badly you need the bitcoins. Only requests for donations to large, recognized charities are allowed, and only if there is good reason to believe that the person accepting bitcoins on behalf of the charity is trustworthy. News articles that do not contain the word "Bitcoin" are usually off-topic. This subreddit is not about general financial news. Submissions that are mostly about some other cryptocurrency belong elsewhere. For example, /r/CryptoCurrency is a good place to discuss all cryptocurrencies. Promotion of client software which attempts to alter the Bitcoin protocol without overwhelming consensus is not permitted. Trades should usually not be advertised here. For example, submissions like "Buying 100 BTC" or "Selling my computer for bitcoins" do not belong here. /r/Bitcoin is primarily for news and discussion. Please avoid repetition /r/bitcoin is a subreddit devoted to new information and discussion about Bitcoin and its ecosystem. New merchants are welcome to announce their services for Bitcoin, but after those have been announced they are Continue reading >>

Bitcoin Community Grows With Gamble.io

Bitcoin Community Grows With Gamble.io

This is apaid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isnt responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the press release. 10th of December 2017 Gamble.io has launched a new online gambling website www.gamble.io expanding its well-trusted online gambling portfolio. Gamble.io aims to bring safe gambling options to choose from in the ever-changing Bitcoin and cryptocurrency gambling sphere. The company seeks and reviews online casinos, poker and betting operators, and cherry-picks the most trustworthy with a proven track record. Trust is essential to the well-being and success of online gambling environment. Growing interest and lack of regulation towards Bitcoin already has enticed unethical entities to enter the cryptocurrency gambling environment, creating a need for watchdog in the industry. The teams expertise and experience in online gambling combined with a group of Bitcoin and cryptocurrency experts allow Gamble.io to pinpoint the most reliable operators in the field of crypto gambling. Gamble.io focuses strictly on cryptocurrency gambling operators. Previously the company has served the Bitcoin community under one of its branches www.bonus.ca/bitcoin . Due to recent customer feedback, the company decided to serve Bitcoin and cryptocurrency community better under a new one-stop-shop. The business model and the service remains mostly the same; now it has just shifted from Canadian gambling to serve the crypto gambling community. Gamble.io lists up to date offers from the most reliable service providers in the business, a Continue reading >>

Who Regulates Bitcoin? The Community, Of Course!

Who Regulates Bitcoin? The Community, Of Course!

Who regulates Bitcoin? The community, of course! Last updated on January 2nd, 2018 at 12:00 am Throughout the years Bitcoin has been around there have been a bunch of thefts and scams connected to the currency. However, people often forget how much this happens with cash and credit card services. Illegal activities and crime are a much larger issue for the fiat game. When these losses happen, many clamor for regulation from governments and financial officials to calm the wild wild West of cryptocurrency. What these people are missing is the fact that the community itself self-regulates our economy. One of the greatest examples is the loss of BTC from the infamous Mt. Gox exchange . Many look at this event as one of the most catastrophic times in the existence of cryptocurrency. After it happened, a good swarm of people chimed in for the governing authorities to step in and stop the madness. Yet, this is akin to asking for a paid protection service much like the mafia back in the day. What people dont realize is that the community had handled the case thoroughly and the best they could. [tweet_box design=box_02]Bitcoin will thrive on its own. As John Lennon once said, we need to Let It Be.[/tweet_box] Close to a over a year prior to the exchanges downfall, several warnings were issued by the community stating that Mt. Gox was an insolvent exchange. Due to its own private off-chain transaction database this wasnt very apparent to the majority, but they were still warned. The community also had members so staunch about getting their money back that they flew out to Japan to meet CEO Mark Karpeles at Mt. Goxs doorstep. Still, people did not listen, and it took more time to figure out how bad this case really was. Lets remember who gave the warnings and who accused Mark Kar Continue reading >>

The Bitcoin Community Is Furious With Coinbases Surprise Launch Of Bcash

The Bitcoin Community Is Furious With Coinbases Surprise Launch Of Bcash

The Bitcoin Community Is Furious with Coinbases Surprise Launch of BCash Bitcoin owners and enthusiasts spent Tuesdaynight and Wednesday morning raging against Coinbase one of the most popular apps for exchanging U.S dollars to blockchain-based digital currencies after the trading platform unexpectedly began exchanging BTCs controversial rival Bitcoin Cash, then quickly crashedas its new product became illiquid. In case youre lost after that sentence,let us first take you through a primer on the situation: Bitcoin Cash (BCH) is a fork of Bitcoin (BTC), essentially a carbon copy of the existing currency with distinctive structural changes in Bitcoin Cashs case, an increase in the amount of data allowed in each block of recorded transactions. Bitcoin has seen many forks through its eight years, but BCH took the novel step of duplicating every users existing balance if you owned3.3 Bitcoin at the time of the fork, you owned 3.3 Bitcoin and3.3 units of Bitcoin Cash after. Some high-profile early Bitcoin advocates have switched allegiance to BCH, notably Roger Ver, the owner of Bitcoin.com, and Jihan Wu, the co-founder of Bitmain, which manufacturesa large share of the devices used in Bitcoin/Litecoin/Dash/Bitcoin Cash mining. Right now, sending Bitcoin is very slow and expensive because people are performing transactions much faster than the network can confirm them. BCH fans say that their coin can handle Bitcoins transaction volume without high fees or long wait times because of the larger size of blocks in its blockchain. Bitcoin Cash advocates say that their coin is closer to the original vision of Satoshi Nakamoto, Bitcoins pseudonymous creator, of peer-to-peer digital cash that can be used for everyday commerce like buying a cup of coffee. NYT said it, WSJ said it, A Continue reading >>

Bitcoin.org Owner Asks The Community To Change Bitcoins Central Pow Algorithm

Bitcoin.org Owner Asks The Community To Change Bitcoins Central Pow Algorithm

Bitcoin.org Owner Asks the Community to Change Bitcoins Central PoW Algorithm This week the owner of the web portal Bitcoin.org and Bitcointalk, a pseudonym called Cobra wrote an open letter to the bitcoin community asking them to think about changing the Bitcoin core networks Proof-of-Work algorithm. Also read: Ross Ulbricht Denied Post-Conviction Relief Extension Bitcoin.org Owner Cobra Says Bitcoin Mining Is Controlled By One Man and His Company The owner of two well-known bitcoin websites has sparked controversy once again as hes written an open letter to the community asking for a Proof-of-Work (PoW) consensus change. Cobra says bitcoin is slowly becoming less decentralized and he blames mining centralization. In fact, Cobra points to one man and his company, and that individual is Jihan Wu, the owner of the Chinese based Bitmain Technologies. Cobra says that the security of the Bitcoin core network depends solely on trusting that one company will be honorable. As long as they [Bitmain] control the majority of the hashrate, the only way to keep the network secure is the threat of a hard fork to a new PoW, but this will only work for as long the community is reasonably small and still overwhelmingly shares the same morals for a decentralized Bitcoin, explains Cobras open letter . Cobra: Hashrate Has Already Been Abused Further Cobra says the community is always talking about new entrants jumping into the global mining space, but he believes it is impossible for them to compete with Bitmain. Because Bitmain took in $4Bn in profit last year, Cobra thinks they are light years ahead. Cobra states in his plea to the community: That $4 billion dollarprofit will be used to build even better hardware, allowing them to further dominate mining for the foreseeable future and Continue reading >>

Top 5 Bitcoin Communities

Top 5 Bitcoin Communities

Staying up-to-date about all things bitcoin can be quite challenging these days. Different communities exist all over the Internet, each of which aims to provide the latest news and insights to the masses. Cryptocurrency continues to baffle the mind of many people, here are some excellent starting points to become a part of the bitcoin community. When it comes to using social media for bitcoin news and information, a lot of people tend to overlook Google+. Although Googles social network is far less popular than Facebook or LinkedIn, it has a vibrant bitcoin community . The largest cryptocurrency group on Google+ consists of several thousand members and continues to grow every single day. It comes as no surprise Facebook is home to many bitcoin enthusiasts as well. Although it is not easy to find the best group, there are quite a few to choose from. Do keep in mind some of these groups may suffer from affiliate-oriented posts every now and then, although moderators do what they can to keep spam to a bare minimum. One of the any cryptocurrency-related forums in existence today is called Cryptocointalk . Albeit it is less so popular than Bitcointalk, CCT is quite informative and contains quite a few educative threads. Moreover, there is an open discussion related to altcoins, which can be of use to particular cryptocurrency enthusiasts. Their news section is also worth checking out, as it features new content every day. The go-to place for any bitcoin discussion is Bitcointalk , the infamous messaging board which is home to tens of those of enthusiasts. Ranging from news to technical discussions and mining support to altcoins, it is hard to think of any resource that cant be found there. People interested in spending Bitcoin may want to check out the marketplace section, Continue reading >>

Bitcoin Wiki

Bitcoin Wiki

Bitcoin is a decentralized digital currency that enables instant payments to anyone, anywhere in the world. Bitcoin uses peer-to-peer technology to operate with no central authority: transaction management and money issuance are carried out collectively by the network. The original Bitcoin software by Satoshi Nakamoto was released under the MIT license.Most client software, derived or "from scratch", also use open source licensing. Bitcoin is the first successful implementation of a distributed crypto-currency, described in part in 1998 by Wei Dai on the cypherpunks mailing list. Building upon the notion that money is any object, or any sort of record, accepted as payment for goods and services and repayment of debts in a given country or socio-economic context, Bitcoin is designed around the idea of using cryptography to control the creation and transfer of money, rather than relying on central authorities. Bitcoins have all the desirable properties of a money-like good. They are portable, durable, divisible, recognizable, fungible, scarce and difficult to counterfeit. Bitcoin is P2P electronic cash that is valuable over legacy systems because of the monetary autonomy it brings to its users. Bitcoin seeks to address the root problem with conventional currency: all the trust that's required to make it work -- Not that justified trust is a bad thing, but trust makes systems brittle, opaque, and costly to operate. Trust failures result in systemic collapses, trust curation creates inequality and monopoly lock-in, and naturally arising trust choke-points can be abused to deny access to due process. Through the use of cryptographic proof, decentralized networks and open source software Bitcoin minimizes and replaces these trust costs. Continue reading >>

Latest Bitcoin 'hard Fork' Causing Concern In Cryptocurrency Community

Latest Bitcoin 'hard Fork' Causing Concern In Cryptocurrency Community

Latest Bitcoin 'Hard Fork' Causing Concern in Cryptocurrency Community This latest Bitcoin "hard fork" scheduled for today ismaking some in the cryptocurrency community uncomfortable. Jaap Terlouw is theperson behind this attempt toexecutea Segwit2x hard fork, which is not the same team behind the failed Segwit2x hard fork back in November. New cryptocurrencies areusually createdwhen there is a signal for a hard fork, which involves splitting the path of a blockchain whenthere's no consensus -- so a significant enough portion of nodes and miners continue to mine the old chain, thereby introducing a situation with two currencies . "Most of the exchanges are uncomfortable with the development work behind the Segwit2x hard fork -- the code itself as well as the experience of the team handling it," said Alexandre Tabbakh, the CEO of PUBLIQ, a blockchain-powered distributed media platform. Forks are serious stress tests for the whole Bitcoin community, which has to show unity and discipline to handle them successfully. Tabbakh explained that whenever Bitcoin survives these "little revolutions," it strengthens its status as the first and most reliable blockchain. "The experience and presence of the [current Segwit2x team] management team on the main Bitcoin forums are surprisingly weak," Tabbakh said, although he noted that Bitcoin "has encountered several forks and shakedowns in the past, but so far always came up stronger." On Thursday, Bitcoin was trading at $14,347, downmore than 8%from an opening bid of $15,378. There are already a number of variations of Bitcoin available created by previous hard forks, including the core Bitcoin (BTC), Bitcoin Cash (BCH) and Bitcoin Gold (BTG). Sergei Sevriugin, CEO and founder Rega, a risk sharing platform, explained that the current Continue reading >>

Meet The Bitcoin Community: The Exclusive And Rich Boys Club

Meet The Bitcoin Community: The Exclusive And Rich Boys Club

Meet the Bitcoin Community: the Exclusive and Rich Boys Club The overrepresentation of men in the world of business has been a hot-button issue of debate for decades, yet it remains as relevant a topic of discussion in the newly emerging branches of business as it does in its older mainstays. Unsurprisingly, one of these branches is the emblem of the age of digital capitalism, bitcoin. Of course, being an anonymously owned resource, pinning down precise numbers on ownership demographics proves a less-than-straightforward process. Nonetheless, data gathered from various sources strongly points toward a heavily male-dominated investor base. The virtual wallet service Uphold reported that 75 percent of their users are male; while Coin Dance, a community-driven tracker of bitcoin statistics, states that an overwhelming 97 percent of bitcoin users are male. The Reason Behind the Skewed Gender Scale As is usually the case, the precise reasons behind this dramatic gender divide are a matter of discord. Some of it, naturally, has been prescribed to the communities and industries in which bitcoin and cryptocurrencies in general first gained traction, and in which they continue to be popular. One such suggestion is that individuals working in the realm of computer sciences, engineering, and related industries, all of which tend to be measurably male-dominated, are among the most exposed to the nuances of cryptocurrency trading and developments. Likewise, in its early days, bitcoin gained some of its greatest traction among the video game community, and on the website Reddit; both, once more, heavily male-dominated demographics. Of course, these industries and communities, though certainly male-dominated, do not generally reflect the dramatic 97-3 gender division that seems to be Continue reading >>

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