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Cryptocurrency Explained Video

Cryptocurrency And Blockchain Explained + Two Cryptocurrencies To Watch In 2018

Cryptocurrency And Blockchain Explained + Two Cryptocurrencies To Watch In 2018

Tap here to turn on desktop notifications to get the news sent straight to you. Co-Founder of Javazen, health buff (not nut) and a coffee aficionado. Cryptocurrency and Blockchain Explained + Two Cryptocurrencies to Watch in 2018 By now you probably know of someone- your friend, your brother, your doctor, your Uber driver, your bosss cousins wifes mother- who made a small fortune off Bitcoin. If you want to make a substantial profit in a short time, the these coins are a good bet. However, financial investment isnt something one should do willy-nilly. In order to go forward with your best foot forward, here are the basics and need-to-knows of cryptocurrencies. One of the first questions I am always asked is about Blockchain. What is it? Blockchain is the backbone technology that powers cryptocurrencies. In laymans terms, It allows digital information to be distributed but not copied. Essentially, there is no monetary trail from transactions. For example, when we withdraw or deposit money into a bank, there are intermediary people and steps between the money being in your hand and in the bank. Now that we know how cryptocurrencies work, lets take a look at some of the over 1,300 different cryptocurrencies that ARENT Bitcoin. Lets start with Ethereum. Ethereum, like Bitcoin, is an alternative currency. Unlike Bitcoin, it is used for more than just buying and selling. It can be used for crowdfunding, voting systems, insurance, decentralized applications, and social networks. Here are some of the benefits of using Ethereum. Permanent - No third party can interfere with the network. Incorporated - Applications are written around the "majority decision" principle and can not be curtailed by a group of people. Secure - Not centralized and no vulnerable, encrypted cryptography Continue reading >>

Bitcoin Explained By Late Night With Seth Meyers

Bitcoin Explained By Late Night With Seth Meyers

If youve been following the news, youve probably read a bit about bitcoin, a cryptocurrency thats fleecing suckers left and right. Although the currency may seem tempting as a way to get rich quick, its also incredibly confusing, based on nothing, backed up by nothing, and risky in a way that makes gambling on the stock market look sane by comparison. And yet if someone asks you, What is bitcoin? even that can be a little confusing. Thankfully, Late Night with Seth Meyers is here with a sketch to help explain bitcoin, how to get it, and why its downright insane. The sketch also highlights the comedic gifts of writer Amber Ruffin who has become one of the best parts of Meyers already terrific show. I love her reactions to Margaret in this sketch and pointing out that bicoin is literally insane and sounds like the most obvious scam ever. If youre thinking, Everything is terrible, I might as well invest my life savings into fake online coins, please watch this sketch first and learn what youre getting yourself into. Im sure some bitcoin defenders will jump in and say that its actually very simple and that untraceable money has its benefits (and if youre a super-sketchy person, Im sure that it does!), but Im glad that this sketch is able to get to the heart of how ridiculous this entire enterprise is. Im not saying that cryptocurrency will never take off, but the current state of bitcoin should be a gigantic red flag to anyone who thinks about investing in such a risky endeavor. If youre seriously thinking about investing, remember that low-risk, low-reward investments like index funds are a much safer and, in the long term, profitable way to make money. If something sounds too good to be true, it usually is. Check out the Late Night with Seth Meyers video below explaining Continue reading >>

Everything You Need To Know About Bitcoin Mining

Everything You Need To Know About Bitcoin Mining

Where do bitcoins come from? With paper money, a government decides when to print and distribute money. Bitcoin doesn't have a central government. With Bitcoin, miners use special software to solve math problems and are issued a certain number of bitcoins in exchange. This provides a smart way to issue the currency and also creates an incentive for more people to mine. Bitcoin miners help keep the Bitcoin network secure by approving transactions. Mining is an important and integral part of Bitcoin that ensures fairness while keeping the Bitcoin network stable, safe and secure. Bitcoin mining is the process of adding transaction records to Bitcoin's public ledger of past transactions or blockchain. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place. Bitcoin nodes use the block chain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere. Visualize and Download High-Resolution Infographic Bitcoin mining is intentionally designed to be resource-intensive and difficult so that the number of blocks found each day by miners remains steady. Individual blocks must contain a proof of work to be considered valid. This proof of work is verified by other Bitcoin nodes each time they receive a block. Bitcoin uses the hashcash proof-of-work function. The primary purpose of mining is to allow Bitcoin nodes to reach a secure, tamper-resistant consensus. Mining is also the mechanism used to introduce Bitcoins into the system: Miners are paid any transaction fees as well as a "subsidy" of newly created coins. This both serves the purpose of disseminating new coins in a decentralized manner as we Continue reading >>

Here's Our Best Shot At Explaining Why Bitcoin Has Been Soaring All Year

Here's Our Best Shot At Explaining Why Bitcoin Has Been Soaring All Year

Here's our best shot at explaining why bitcoin has been soaring all year Two of the world's biggest exchanges are about to begin bitcoin futures trading. Banks and financial companies see tremendous promise in the blockchain technology underlying bitcoin, which could revolutionize payments and securities settlement. Price volatility is only one of bitcoin's risks. No, you are not imagining things. Everyone is talking about bitcoin , even your mom. With a price approaching $20,000 a coin this week, it's not hard to understand why. The digital currency started out the year below $1,000. A mere curiosity until recently, Bitcoin is about to get a big dose of legitimacy, something that could be helping to boost its price. This month, two of the world's biggest exchanges will begin trading bitcoin futures, pushing it further into the mainstream and establishing a layer of official oversight that hadn't previously existed. Professional traders have piled into the bitcoin trade, too. Dozens of funds have sprouted up this year to trade digital assets such as bitcoin, and some big-name money managers like Bill Miller and Michael Novogratz have also taken an interest. Exchange-traded funds are in the works, though skeptical regulators earlier this year rejected an application for one created by Cameron and Tyler Winklevoss. Bitcoin isn't actually a coin. Nor is it a piece of paper or anything physical you can hold or put in your pocket. It has no bank or regulator. It's a computer code that exists on the internet on a thing called the blockchain, a ledger of transactions. Anonymity originally made bitcoin and other digital currencies popular for illegal activities, especially on the internet. But retailers gradually warmed to accepting bitcoin, and there are even bitcoin ATMs. On Continue reading >>

How To Buy Bitcoin: A Beginner's Guide To Purchasing The Cryptocurrency And Not Being Scammed

How To Buy Bitcoin: A Beginner's Guide To Purchasing The Cryptocurrency And Not Being Scammed

How to buy bitcoin: A beginner's guide to purchasing the cryptocurrency and not being scammed Numerous financial experts, however, are urging people not to get involved at all The value of bitcoin appears to be on the rise again, after it fell by almost $9,000 in a matter of days. Thenotoriously volatile cryptocurrency is expected to carry on fluctuating unpredictably, which is why numerous financial experts are urging people not to getinvolved with it, believing the boom can only end badly . However, if youre still curious and want tofind out more, heres how beginners can buy bitcoin. Designed by Pierpaolo Lazzarini from Italian company Jet Capsule. The I.F.O. is fuelled by eight electric engines, which is able to push the flying object to an estimated top speed of about 120mph. A humanoid robot gestures during a demo at a stall in the Indian Machine Tools Expo, IMTEX/Tooltech 2017 held in Bangalore A humanoid robot gestures during a demo at a stall in the Indian Machine Tools Expo, IMTEX/Tooltech 2017 held in Bangalore Engineers test a four-metre-tall humanoid manned robot dubbed Method-2 in a lab of the Hankook Mirae Technology in Gunpo, south of Seoul, South Korea Engineers test a four-metre-tall humanoid manned robot dubbed Method-2 in a lab of the Hankook Mirae Technology in Gunpo, south of Seoul, South Korea The giant human-like robot bears a striking resemblance to the military robots starring in the movie 'Avatar' and is claimed as a world first by its creators from a South Korean robotic company Engineers test a four-metre-tall humanoid manned robot dubbed Method-2 in a lab of the Hankook Mirae Technology in Gunpo, south of Seoul, South Korea Waseda University's saxophonist robot WAS-5, developed by professor Atsuo Takanishi Waseda University's saxophonist ro Continue reading >>

What Is Bitcoin? The Cryptocurrency Explained

What Is Bitcoin? The Cryptocurrency Explained

Bitcoin is back in the headlines after soaring in value. One bitcoin was worth $2,800 on May 25, up from $1,200 at the end of April. In countries that accept it , you can buy groceries and clothes just as you would with the local currency. Only bitcoin is entirely digital; no one is carrying actual bitcoins around in their pocket. Bitcoin is divorced from governments and central banks. It's organized through a network known as a blockchain, which is basically an online ledger that keeps a secure record of each transaction all in one place. Every time anyone buys or sells bitcoin, the swap gets logged. Several hundred of these back-and-forths make up a block. No one controls these blocks, because blockchains are decentralized across every computer that has a bitcoin wallet, which you only get if you buy bitcoins. True to its origins as an open, decentralized currency, bitcoin is meant to be a quicker, cheaper, and more reliable form of payment than money tied to individual countries. In addition, it's the only form of money users can theoretically "mine" themselves, if they (and their computers ) have the ability. But even for those who don't discover using their own high-powered computers, anyone can buy and sell bitcoins , typically through online exchanges like Coinbase or LocalBitcoins . A 2015 survey showed bitcoin users tend to be overwhelmingly white and male, but of varying incomes. The people with the most bitcoins are more likely to be using it for illegal purposes, the survey suggested. Each bitcoin has a complicated ID, known as a hexadecimal code, that is many times more difficult to steal than someone's credit-card information. And since there is a finite number to be accounted for, there is less of a chance bitcoin or fractions of a bitcoin will go missin Continue reading >>

The Blockchain Explained

The Blockchain Explained

"The more we divulge things we know about them, the more theyll shift and change." bit.ly/2z3j0X1 The blockchain. Everyones talking about it. But what is it, how does it work, and whats it for? We get it: Ads arent what youre here for. But ads help us keep the lights on. So, add us to your ad blockers whitelist or pay $1 per week for an ad-free version of WIRED. Either way, you are supporting our journalism. Wed really appreciate it. Continue reading >>

A Brief Attempt At Explaining The Madness Of Cryptocurrency

A Brief Attempt At Explaining The Madness Of Cryptocurrency

A brief attempt at explaining the madness of cryptocurrency Cryptocurrency may as well be called "cryptic currency," because it's nowhere near as easy to figure out as typical money. For one, while most of them (and yes, there's more than one) have names that end with "-coin," they don't usually come in physical form. Yes, they do represent money in digital form, but using them is a bit more complicated than digital payment services like, say, PayPal or Google Wallet. Also, unlike banks and online services, they're decentralized, with no single governing body overseeing and verifying transactions -- there's a reason why bitcoin was (is?) the currency of choice for black market regulars. Bitcoin ("BTC") isn't only recognized as the first cryptocurrency; it's also the basis for every other crypto-coin that's popped up since it was formally introduced in 2009. "Satoshi Nakamoto" (the pseudonym used by the person or the group of people who created bitcoin) designed it as a peer-to-peer system that relies on users to keep working. Also, all transactions are recorded on a public ledger (called "block chain"), so even though no name or email address is associated with an account, the system's not entirely anonymous. Similar alternative currencies follow that structure even now, though they add features of their own, as well. Litecoin, for instance, was designed for faster transactions (the average confirmation time for each bitcoin transfer is 11 minutes as of January 2015, because it has to be verified by a miner -- more on this later), while Quarkcoin promises a more secure system. Others rely on their novelty more than anything, such as Dogecoin, which likely appeals most to fans of the (in)famous doge meme and Coinye West that was seriously a thing until Kanye West went N Continue reading >>

Bitcoin Made Simple Video Animation

Bitcoin Made Simple Video Animation

Baffled by bitcoin? Confused by the concept of crypto-currencies? Well, fear no more. In 190 seconds we explain what bitcoin actually is, where the idea came from and the impact it's having around the world. Is bitcoin the future of finance, a potential destroyer of the economy ... or just a silly slice of technical utopianism? Continue reading >>

The Clearest Cryptocurrency Explanation Video I've Ever Seen : Ethtrader

The Clearest Cryptocurrency Explanation Video I've Ever Seen : Ethtrader

Welcome to /r/EthTrader , a 100% community driven sub. Here you can discuss Ethereum news, memes, investing, trading, miscellaneous market-related subjects and other relevant technology. New to Ethereum? Read our FAQ .For the discussion of tech and application development using Ethereum, go to the official sub at /r/ethereum . Read our rules before posting. If you wish to have your subreddit or website listed in our sidebar, please review our sidebar listing policy . User flairs or tokens in the ticker are not an endorsement. Please use due diligence when choosing an investment. Welcome to /r/EthTrader | Foundation Tip Jar | Rules | Policy | Public Mod Logs | News Timeline | Education | Comments You can correct innacurate link-flair assignments by typing "[AutoMod]" along with the flair name in a top-level comment, e.g. [AutoMod] DAPP-NEWS. Requires 100 comment karma and 1-month account age. If this feature doesn't work, please message the modmail . Continue reading >>

Bitcoin And Blockchain Will Reveal What They're Actually Good For In 2018 | Wired

Bitcoin And Blockchain Will Reveal What They're Actually Good For In 2018 | Wired

Every successful new technology undergoes a Cambrian Era-style explosion of growth in which we try to use it for everything. Email, search, social networkingeach passed through its this will solve all our problems! phase before we figured out what its best applications and limitations were. With the Bitcoin bubble testing astronomical prices every day, cryptocurrencies and the blockchain technology that drives them are now taking their turn in this one-tech-fits-all role. Scott Rosenberg is a journalist, editor, blogger, and non-fiction author, as well as a cofounder of Salon Media Group and Salon.com. Sign up to get Backchannel's weekly newsletter, and follow us on Facebook , Twitter , and Instagram . A blockchain is a cryptographically protected distributed ledgerits what protects you or anyone else from making a copy of that Bitcoin you just bought. Youve probably heard about the popularity of blockchain tech in the financial business. In fact, anything that you can make a list of, you can manage with blockchains. Ambitious developers and entrepreneurs are aiming to use them to rework everything from how we track land ownership to how we distribute medicine and how we grant diplomas. Some of these ideas are brilliant, while others are ridiculous. Do we really need a blockchain to run an online encyclopedia or pay for news ? Whether we do or not, in 2018, were probably going to see it tried. Thats partly because of a glut of venture capital and the salivation of investors thrilled by Bitcoins wild ride. But its also because this is the exuberant but wasteful process by which the tech industry determines what each new platform is actually good for. And its a process that will play out whether the Bitcoin bubble keeps soaring or finally pops. In the coming year, the mo Continue reading >>

Bitcoin Explained: How Do Crypto-currencies Work?

Bitcoin Explained: How Do Crypto-currencies Work?

Media playback is unsupported on your device Bitcoin explained: How do crypto-currencies work? An estimated 3-4bn is being laundered via crypto-currencies in Europe every year, the director of Europol has told the BBC. It comes as Treasury Select Committee member Alison McGovern MP says much speedier regulation is needed. But what are crypto-currencies? Spencer Kelly explains all. Continue reading >>

100 Cryptocurrencies Described In Four Words Or Less

100 Cryptocurrencies Described In Four Words Or Less

100 cryptocurrencies described in four words or less Nate Murray is a programmer, musician and beekeeper. He is currently teaching App Development at \newline . Name | Sym. | Description ----------------|-------|------------------------------------------Bitcoin | BTC | Digital gold Ethereum | ETH | Programmable contracts and money Bitcoin Cash | BCH | Bitcoin clone Ripple | XRP | Enterprise payment settlement network Litecoin | LTC | Faster Bitcoin Dash | DASH | Privacy-focused Bitcoin clone NEO | NEO | Chinese-market Ethereum NEM | XEM | Batteries-included digital assets Monero | XMR | Private digital cash Ethereum Classic| ETC | Ethereum clone IOTA | MIOTA | Internet-of-things payments Qtum | QTUM | Ethereum contracts on Bitcoin OmiseGO | OMG | Banking, remittance, and exchange Zcash | ZEC | Private digital cash BitConnect | BCC | Madoff-like investment fund Lisk | LSK | Decentralized applications in JavaScript Cardano | ADA | Layered currency and contracts Tether | USDT | Price = 1 USD Stellar Lumens | XLM | Digital IOUs EOS | EOS | Decentralized applications on WebAssemblyHshare | HSR | Blockchain switchboard Waves | WAVES | Decentralized exchange and crowdfunding Stratis | STRAT | Decentralized applications in C# Komodo | KMD | Decentralized ICOs Ark | ARK | Blockchain switchboard Electroneum | ETN | Monero clone Bytecoin | BCN | Privacy-focused cryptocurrency Steem | STEEM | Reddit with money voting Ardor | ARDR | Blockchain for spawning blockchains Binance Coin | BNB | Pay Binance exchange fees Augur | REP | Decentralized prediction market Populous | PPT | Invoice trading futures Decred | DCR | Bitcoin with alternative governance TenX | PAY | Cryptocurrency credit card MaidSafeCoin | MAID | Rent disk space BitcoinDark | BTCD | Zcoin close BitShares | BTS | Decen Continue reading >>

Cryptocurrency Mining Explained | Fortune

Cryptocurrency Mining Explained | Fortune

© 2017 Time Inc. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy ( Your California Privacy Rights ). Fortune may receive compensation for some links to products and services on this website. Offers may be subject to change without notice. Quotes delayed at least 15 minutes. Market data provided by Interactive Data . ETF and Mutual Fund data provided by Morningstar , Inc. Dow Jones Terms & Conditions: . S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Terms & Conditions . Powered and implemented by Interactive Data Managed Solutions . Continue reading >>

Still Don't Get Bitcoin? Here's An Explanation For Five-year-olds

Still Don't Get Bitcoin? Here's An Explanation For Five-year-olds

If you still cant figure out what the heck a bitcoin is, this simple explanation for a five-year-old may help you ... Were sitting on a park bench. Its a great day.I have one apple with me, I give it to you. You now have one apple and I have zero.That was simple, right? My apple was physically put into your hand.You know it happened. I was there, you were there you touched it. We didnt need athird personthere to help us make the transfer. We didnt need to pull in Uncle Tommy (whos a famous judge) to sit with us on the bench and confirm that the apple went from me to you. The apples yours! Icantgive you another apple because I dont have any left. I cant control it anymore. The apple left my possession completely. You have full control over that apple now. You can give it to your friend if you want, and then that friend can give it to his friend, and so on. So thats what an in-person exchange looks like. I guess its really the same, whether Im giving you a banana, a book, a quarter, or adollar bill Now, let's say I have onedigitalapple. Here, Ill give you mydigitalapple. Ah! Now it gets interesting. How do you knowthatdigital apple which used to be mine, is now yours, and only yours? Think about it for a second.Its more complicated, right? How do you know that I didnt send that apple to Uncle Tommy as an email attachment first? Or your friend Joe? Or my friend Lisa too? Maybe I made a couple of copies of that digital apple on my computer. Maybe I put it up on the internet and one million people downloaded it. As you see, this digital exchange is a bit of a problem.Sendingdigitalapples doesnt look like sendingphysicalapples. Some brainy computer scientists actually have a name for this problem: its called the double-spending problem . But dont worry about it. All you need Continue reading >>

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