• You Don’t Have To Worry About Bitcoin’s Reliance On Utilities

    Imagine what life would be like if there were no electricity or communications networks available.  How many days of food do you have at your house? How much cash do you have on hand? Can you go out to try to buy up what’s left at the stores that still have their doors open? What else would you be worried about? What would you prioritize? What would you want to make sure you had on hand to survive indefinitely in a world without electricity and communications networks? What would you d...

  • Gloria Zhao And Brink Are Set To Give Bitcoin Mempools An Upgrade

    Brink, the new nonprofit founded by John Newbery and Mike Schmidt to train and support Bitcoin developers, today announced Gloria Zhao as its first fellow. After graduating from Berkeley with a degree in computer science this month, Zhao will familiarize herself with contributing to Bitcoin Core and related open-source projects under mentorship of Newbery. Her year-long fellowship is funded by donations from Square Crypto and the Human Rights Foundation. “I want to be a serious and long-ter...

  • LVL Launches Feeless Bitcoin Exchange

    This is a promoted article provided by LVL. Today, Bitcoin financial services provider LVL announced the launch of a feeless bitcoin exchange for users in North America. “LVL wants to be the biggest disruption to the Bitcoin exchange space in years,” per a LVL release on the announcement. “Every Bitcoin exchange uses the same model — transaction fees. Like stocks and banking, we believe the future of Bitcoin is free. If we’re right, it will be the biggest disruption in the exchan...

  • Video: Bitcoin Hardware And Security With Cobo’s Lixin Liu

    Listen To This Episode: AppleSpotifyGoogleLibsyn This episode of Bitcoin Magazine’s Bitcoin In Asia featured Lixin Liu, the head of hardware at Cobo and the creator of the Cobo Vault, out of Shanghai. Lixin’s background in hardware and international product development, most recently in robotics with Hover Camera, made him the preferred choice of F2Pool and Cobo Founder Discus Fish when he decided to get into the Bitcoin hardware and security game. Lixin and I discussed buildi...

  • Bitcoin Price Hits All-Time High

    Bitcoin has hit a new all-time highest price relative to USD as listed on Bitstamp, eclipsing its previous high of $19,666.00 set on the exchange on December 13, 2017. The specific price of BTC relative to fiat currency at any given time depends on the rate set by specific exchanges, and the listed all-time high price or price at any given time depends on the particular data set referenced. Though Bitstamp does not list the highest all-time bitcoin price of any exchange (Bitfinex, for instanc...

  • Video: Bitcoin’s Nature With Gigi

    Listen To This Episode: AppleSpotifyGoogleLibsyn In this episode of the Bitcoin Magazine Podcast, host Christian Keroles and author and senior developer at Swan Bitcoin Dergigi take a deep dive the Bitcoin rabbit hole.  Keroles and Dergigi discuss Bitcoin’s circular nature and how people often project themself onto Bitcoin. To Dergigi, also known simply as Gigi, Bitcoin is a mirror and we all see what we project reflected back from it. The two also discuss BitcoinR...

  • Bitcoin Black Friday Is Back On November 27!

    Bitcoin Black Friday is coming back for 2020 with over 200 merchants and over 250 product deals! Bitcoin Black Friday has returned this year with 350 deal listings from over 300 companies to date, and even more deals are going live to celebrate Bitcoin Black Friday (November 27) through Cypher Monday (November 30). What started in 2012 with very humble beginnings as a grassroots initiative from some active Bitcointalk forum members and just a few dozen participating Bitcoin merchants, has ...

  • Video: The Inevitable Path For Central Banks

    Listen To This Episode: AppleSpotifyGoogleLibsyn On this episode of Bitcoin Magazine’s Fed Watch, Christian and I are joined by Jeff Booth. It results in a show that is unlike any other interview with Booth that you may have seen. Most listeners are familiar with his book, so we spend most of our time discussing what a timeline of events looks like from Booth’s perspective, and then some possible limitations to the technology-driven deflation theory. In usual Fed Watch style...

  • Celebrate Bitcoin Black Friday, Propel The Bitcoin Circular Economy

    Bitcoin Black Friday was started by Jon Holmquist in 2012 as a way to co-opt a mainstream celebration of consumerism and help Bitcoiners promote their favorite technology. By encouraging merchants to offer discounts on their goods and services when shoppers paid with BTC, the holiday became a showcase for Bitcoin as a payments system, a tool to encourage more businesses to adopt it and a way for HODLers to propel the Bitcoin circular economy. The team behind Bitcoin Magazine relaunched Bitcoi...

  • Video: “The Fiat Standard” With Saifedean Ammous

    Listen To This Episode: AppleSpotifyGoogleLibsynOvercast “The Bitcoin Standard” by Saifedean Ammous is a fan-favorite book among Bitcoiners that is constantly recommended to newbies and veterans alike. It serves as a fantastic reference to learn about the history of money and what makes money valuable: two critical factors informing the importance of Bitcoin. I personally have written a few articles of my own about these topics and always find myself coming back to “The Bitcoin...

  • It’s Time To Join The Bitcoin Circular Economy

    Makers of 3D-printed guns operate by the motto, “Free men don’t ask permission.” They don’t ask the State for permission to bear arms. They don’t rely on gun manufacturers to make a gun that they’d like to see developed. In doing so, 3D gun printing functions parallel to, and outside of the legacy model of regulated manufacturers producing compliant and serialized guns that can only be bought through third-party licensed firearms dealers after passing a State background check. A ...

  • Video: Coordinating Bitcoin Upgrades With Poolin’s Alejandro De La Torre

    Listen To This Episode: AppleSpotifyGoogleLibsyn The guest for this episode of Bitcoin In Asia is Alejandro De La Torre, vice president at Poolin. De La Torre and Poolin have launched taprootactivation.com to improve on the communication and transparency of the Taproot activation process. Bitcoin Magazine’s Aaron van Wirdum covered the initiative here, and in this Interview, De La Torre and host John Riggins explored additional context around it.  De La Torre has been in the Bitco...

  • Video: Securing Bitcoin With Zach Herbert Of Foundation Devices

    Listen To This Episode: AppleSpotifyGoogleLibsynOvercast On this episode of the Bitcoin Magazine Podcast, host Christian Keroles and Zach Herbert, the CEO and co-founder of Foundation Devices, sit down to discuss the company’s launch and its first product, the Passport hardware wallet. During the conversation, Keroles and Herbert dive into the design editions for the Passport as well as Herbert’s ideas about multisig, hardware wallets in general, Bitcoin mass adoption, u...

  • The Virtuous Cycle of Bitcoin Giving

    Higher Prices Mean More Giving. More Giving Means More Adoption Bitcoin has left every other asset class in the dust. And that outperformance didn’t just take place this year — it’s outperformed every asset over the last five-year and 10-year periods. As we approach a new all time high, 99 percent of bitcoin owners are in profit. Given how rapidly bitcoin has appreciated, it shouldn’t be surprising to hear that price rallies lead to significant bitcoin donations.  The last tim...

  • HASHR8 Assesses The World Of Bitcoin Mining With Launch Of Index Reports

    Bitcoin mining-focused media company HASHR8 has launched the first report in its “Bitcoin Mining Index,” a planned series on the world’s prominent mining regions that offers detail on how the practice is taking shape and where opportunity lies around the globe.“Bitcoin mining is truly a global game,” Whit Gibbs, CEO of HASHR8, told Bitcoin Magazine. “Each country has its own unique pros and cons for mining. We are focused on country-level distinction because much of this information ...

  • John Newbery’s New Nonprofit Brink Will Train And Support Bitcoin Developers

    How do we fund Bitcoin developers, and how do we ensure there are enough of them in the first place?  Former Chaincode Labs developer John Newbery and Blockstream alumnus Mike Schmidt are launching a nonprofit to help answer both of these questions. The new organization is called Brink (a nod to the newspaper headline embedded in Bitcoin’s genesis block), a new London-based, independent nonprofit to support open-source development for Bitcoin and related technologies. Through Brink,...

  • Everything You Need to Use Bitcoin Safely, From Beginner to Expert

    This is a promoted article provided by SatoshiLabs. To succeed, Bitcoin must be attractive and intuitive to all kinds of users. Making an ecosystem that serves everyone’s needs equally is a significant undertaking, but it’s made much easier through collaboration. There are four fundamental tiers of user that need to be defined if they are to be protected, each building on the foundations set by the one prior. It is these tiers which will help model the future of the ecosystem, constructed...

  • Video: Nick Szabo, Adam Back And David Chaum On The History Of Bitcoin

    Listen To This Episode: AppleSpotifyGoogleLibsyn In this episode of Bitcoin Magazine’s Bitcoin In Asia, some of the godfathers of Bitcoin — Nick Szabo, Adam Back and David Chaum — discuss the history of the technology with host John Riggins. This episode was recorded during a live panel from Seoul at Korea Blockchain Week and is laid out as a history of the ideas and events that led to Bitcoin from their first-person accounts. It also features their current thoughts on the latest ...

  • Video: Erebus Attacks And How To Stop Them With ASMAP

    Listen To This Episode: AppleSpotifyGoogleOvercastLibsyn In this episode of The Van Wirdum Sjorsnado, Aaron and Sjors discuss the Erebus Attacks. The episode is a follow-up from last week’s episode on Eclipse Attacks, a type of attack that isolates a Bitcoin node by occupying all of its connection slots to block the node from receiving any transactions. Erebus Attacks are Eclipse Attacks in which an attacker essentially spoofs a whole part of the internet. The internet is made up o...

  • How Will The U.S. Presidential Election Affect The Bitcoin Price?

    This is a promoted article provided by Safetrading. One of Bitcoin’s key properties is the fact that it is free from control by any third party, including politicians. But the fact is that the price of Bitcoin relative to fiat can swing significantly as the result of political and legacy economic activity. For evidence, look no further than U.S. presidential elections. Though major media outlets, including the Associated Press, have called the 2020 U.S. Presidential Election in favor of ...

  • Video: Digital Euro, Central Bank Digital Currencies And Bitcoin

    Listen To The Episode: AppleSpotifyGoogleLibsynOvercast This episode of Bitcoin Magazine’s Fed Watch is a cosmic ride though the broad topics of money, central banks, and bitcoin. My co-host Christian Keroles and I started by extending the analogy of a financial hurricane, which I spoke about in another recent podcast. Many people point to certain asset price rises as a sign of inflation, however, I argued that it is a natural evolution of prices due to the malfunctioning fina...

  • Bitcoin, Blockchain Entrepreneur Malcolm CasSelle Dies At 50

    Malcolm CasSelle, a pioneering blockchain technology and Bitcoin entrepreneur, has died at age 50, according to a social media post from friend and colleague E. David Ellington. “My younger brother, business partner, advisor and friend, Malcolm CasSelle, died in Mexico yesterday,” Ellington wrote on November 18, 2020. “Apparently, his friends said he had a stomach ache when he woke. He took some antibiotics. They came back six hours later to check on him and found him dead in his room (...

  • Cynthia Lummis Is Bringing Bitcoin To The U.S. Senate

    On November 3, 2020, the Associated Press declared Cynthia Lummis the winner of an open U.S. Senate seat for Wyoming, making her the first woman to ever represent the state in the upper chamber. But this wasn’t the only first marked by her historic win. As she’s emphasized in recent interviews with GMA3, Fox News and now, Bitcoin Magazine, Lummis is the most outspoken Bitcoin advocate to ever rise to elected office on The Hill. “I want to help other members of the U.S. Senate underst...

  • What Ray Dalio Is Missing About Bitcoin

    Famous investor and hedge fund manager Ray Dalio recently tweeted out a thread listing the three biggest sticking points preventing him from jumping on the Bitcoin bull train.  I might be missing something about Bitcoin so I’d love to be corrected. My problems with Bitcoin being an effective currency are simple… (1/5)— Ray Dalio (@RayDalio) November 17, 2020 Although myths about Bitcoin like these have been continuously debunked, clearly there’s more work to be done ...

  • New Zealand’s Past, Pūtea and Future: CBDC Vs. Bitcoin

    Source Currently, there is global attention focused around the evolution of money. The trend of exponentially evolving technology is disrupting finance and governance, it is impacting all corners of the world.  In my home country of Aotearoa, aka New Zealand, the movement toward future money is palpable, from statements by the central bank (RBNZ) about re-evaluating money itself, to a movement toward Māori (indigenous) economic self-governance (tino rangatiratanga).This article is ab...

  • Bitcoin Responds To American Vote Of No Confidence In Electoral Politics

    The 2020 U.S. Presidential Election swept over the nation with chaos and turmoil. The election mess, with alleged voter fraud, ballot tampering and the removal of Republican election observers challenged the notion of a fair and free election. On the Saturday after Election Day, when major news networks and the Associated Press called the presidential race for Joe Biden, disputes over the outcome with recounts and federal lawsuits quickly fended off the blue waves that were spreading in Democrat...

  • Video: Bitcoin For The Masses With Alex Adelman Of Lolli

    Listen To This Episode: AppleSpotifyGoogleLibsynOvercast On this episode of the Bitcoin Magazine Podcast, host Christian Keroles sits down with Lolli CEO Alex Adelman. Adelman is a long-time entrepreneur in the cash-back and rewards space and his entrance into the Bitcoin ecosystem has been game changing. Lolli leverages bitcoin as a universal, incredibly liquid rewards point and has proven that it can drive real volume for retailers with sats-back rewards. Lolli has many of yo...

  • Palling Up To Crypto: Could PayPal’s Bitcoin Accommodation Lead To Widespread Adoption?

    The autumn of 2020 has been a lucrative one for bitcoin investors, with the world’s most famous cryptocurrency being awoken from a bearish end to the summer with the news that payments giant PayPal was set to begin accommodating BTC payments within its 346 million global user base.  (Image: CoinGecko) With the news of PayPal’s accommodation of Bitcoin emerging on October 21, we can see a significant rise in the value of the cryptocurrency leading to BTC almost reaching highs of $1...

  • Bitcoin’s Market Cap Hits All-Time High

    According to publicly-available market data, bitcoin’s market capitalization has hit a new all-time high, eclipsing its highest mark ever of $328.89879 billion, set on December 16, 2017, per Coin Metrics. Market capitalization is determined by an asset’s individual price, multiplied by its total supply. At the time of this writing, according to cryptocurrency exchange Bitstamp, the bitcoin price reached $17,756 and, according to Bitcoin data aggregator Clark Moody, the supply has reached ...

  • As Red And Blue Debate, Green Printer And Orange Coin Always Win

    The nation and world are on the brink, awaiting official Electoral College votes to be cast on December 14, despite convincing conjectural consensus on the champion. But either way, 2020’s highly-contested U.S. presidential election reminds us that much of the country is either rabidly red or batty blue. This has resulted in a magnitude of red vs. blue conflict the likes of which we have rarely seen before. The purported stark contrasts between both sides, however, ring empty in regards to ...

  • Poolin Launches Initiative To Activate Taproot, Encouraging Other Mining Pools To Join

    Top 2 Bitcoin mining pool Poolin wants Taproot, and hopes other pools do too. Update (November 18, 2020): AntPool and Luxor have also signaled their support on taprootactivation.com. With AntPool contributing roughly 11 percent of Bitcoin network hash power, this brings the total has power of pools supporting Taproot activation to more than 56 percent. Update (November 17, 2020): Bitmain’s BTC.com (contributing about 12 percent of the network’s hash power) and Slush Pool (about...

  • Video: Bitcoin Eclipse Attacks And How To Solve For Them

    Listen To This Episode: AppleSpotifyGoogleLibsynOvercast In this episode of The Van Wirdum Sjorsnado, Aaron and Sjors discuss Eclipse attacks. More specifically, they discuss the 2015 paper “Eclipse Attacks on Bitcoin’s Peer-to-Peer Network,” written by Ethan Heilman, Alison Kendler, Aviv Zohar and Sharon Goldberg, from Boston University and Hebrew University/MSR Israel. Eclipse attacks are a type of attack that isolates a Bitcoin node by occupying all of its connection slots t...

  • Multisig Coordination Software Nunchuk Releases Its Code

    Recently-launched Bitcoin wallet Nunchuk announced today that it is making its application library, libnunchuk, open source and available to the public. Nunchuk describes its mission as “the proliferation of multisig” and attempts to make multisig wallet security easier to achieve by offering a product that integrates some of the latest developments around partially-signed bitcoin transactions (PSBTs) and descriptor language. “In the early days of Bitcoin, wallet vendors were often i...

  • Bitcoin Cash Might Split Again This Weekend. This Is Why (And How)

    Bitcoin Cash (BCH) might split again this weekend. The Bitcoin ABC software client forked away from the Bitcoin protocol in mid-2017 to form a cryptocurrency of its own: Bitcoin Cash. Since then, Bitcoin Cash has deployed a backwards-incompatible hard fork upgrade every six months, requiring a network-wide upgrade across all Bitcoin Cash clients. While most of these upgrades have gone through relatively smoothly, a conflict within the Bitcoin Cash community in 2018 resulted in a split between...

  • Hodl Hodl Brings Non-Custodial, Bitcoin-Backed Lending Service To U.S.

    Decentralized cryptocurrency exchange Hodl Hodl announced today that its lending service, Lend at Hodl Hodl, is now available to customers in the U.S. “Lend at Hodl Hodl is a global, P2P, non-custodial, bitcoin-backed lending platform where anyone can lend or borrow stablecoins anonymously on a P2P basis,” per an announcement shared with Bitcoin Magazine. The service allows users to create a lending contract and deposit bitcoin as collateral into its escrow directly from their wallet. ...

  • As Governments Seek Encryption Backdoors, Bitcoin Becomes Critical

    On November 6, 2020, the Council of the European Union released a “Draft Council Resolution on Encryption.” The document is supposed to serve as a precursor to a final text to be presented to the Council, on November 19 for potential legal adoption. It emphasizes support for data encryption in general, but also notes the challenges that encryption technologies pose for investigators who want to access criminals’ communications.  “The European Union fully supports the development, ...

  • “Unannounced” Ethereum Hard Fork Proves Not All Blockchain Networks Are Built The Same

    Earlier today, a change to the underlying Ethereum code made by developers some time ago resulted in an unannounced hard fork, effectively splitting the Ethereum blockchain and creating a new version that is valid for upgraded nodes but seen as invalid by ones that did not upgrade. Obviously, this was a major issue for Ethereum users, but it also offered some lessons in the difference between the two largest blockchain networks. So What Exactly Happened With Ethereum Today? “OK, so what ...

  • Video: What Does The U.S. Election Mean For Bitcoin?

    Listen To This Episode: AppleSpotifyGoogleLibsynOvercast Bitcoin has an unyielding apolitical nature which, oddly enough, makes it a political statement in today’s rampantly politicized world. In this episode of Bitcoin Magazine’s Fed Watch, my co-host Christian Keroles and I discuss the recent U.S. Presidential Election and what it means for Bitcoin. Our discussion is wide-ranging, going from election irregularities, to the rebound in mining hash power, to bitcoin price pre...

  • Here’s A Chance To HODL 1 BTC With Bitcoin Black Friday

    This is a promoted article provided by Bitcoin Black Friday. Join the waitlist for the Fold Bitcoin rewards cardIf you are already on the waitlist, refer friends to join Bitcoin Black Friday has partnered with Fold to give away an entire bitcoin (yes, 100,000,000 sats) to one winner who opts into the Bitcoin circular economy between now and November 27 (Black Friday).  To enter, customers simply need to join the waitlist for Fold’s much-anticipated Bitcoin rewards debit card and ...

  • Video: Bitcoin Is A Necessity, With Aleks Svetski

    Listen To This Episode: AppleSpotifyGoogleLibsynOvercast For this episode of the Bitcoin Magazine Podcast, host Christian Keroles sits down with founder of the Amber App and The Bitcoin Times Aleks Svetski to discuss his recent Bitcoin Magazine article “Because Bitcoin Is A Necessity, Its Economy Will Be Circular.” This was a wide ranging conversation covering many of the first principle arguments for Bitcoin and sound money. As such, the resulting podcast and video are ...

  • When Bitcoin Melts The System, Prosperity Steps In

    “Overcome by the giddiness that flying lent him, Icarus soared into the sky, but in the process, he came too close to the sun, which due to the heat melted the wax.”— The Legend Of Icarus Jacob Peter Gowy‘s “The Flight of Icarus” (1635 to 1637). Central banking, along with fractional reserve banking — two inseparable evils of monetary policies — have been distorting market price signals for the last 50 years.  In 1971, the Nixon Shock corrupted the global monetary s...

  • Video: Valiu And Protecting Wealth In South America

    Listen To This Episode: AppleSpotifyGoogleLibsynOvercast On this episode of the Bitcoin Magazine Podcast, host Christian Keroles sits down with Simon Chamorro to discuss Valiu, a tool for protecting Colombian pesos from inflation and remit funds to friends and family in Venezuela, which has been hit heavily by hyperinflation. On its website, Valiu is described as a way to protect your money from inflation using synthetic “valiu dollars”: “Top up Valiu dollars us...

  • New North American Mining Pool Bets On Region And Regulatory Compliance

    North American bitcoin mining farms all use mining pools to ensure steady block rewards, compiling hash power from miners operating remotely to compete with the industrialized farms based in China. Most of these mining farms use China-based mining pools (pools whose headquarters and, perhaps, servers for collecting hash power, are located in China) because the fees that they charge for collecting and distributing hash power are the lowest in the world.  However, the days of unregulated m...

  • Don’t Fall For The Biggest Mistake In Bitcoin

    Bitcoin is highly technically-secure as a protocol, meaning that there is only one reason why you’d ever lose your coins: human error. As with many things, people are the biggest security vulnerability in Bitcoin and, as we know, humans are far harder to fix than code. Two stories from last month showed how far we are from solving Bitcoin’s security challenge. At the beginning of October, federal prosecutors charged crypto trading platform BitMEX with facilitating unregistered trading vio...

  • Following One Decade Of Growth, DeFi Could Guide Bitcoin’s Next

    Since 2009, Bitcoin has come a long way while proving its worth, improving its regulatory standing and raising interest globally through media and the internet. From having zero relative value to fiat as a currency in its early days to being valued at $19,783.06 in December 2017, bitcoin has shown immense power. Today, nearly everybody, whether or not they know about blockchain technology, has at least heard of Bitcoin.  Below is a timeline meant to express how far Bitcoin has come in su...

  • Video: Open Timestamps: Leveraging Bitcoin’s Security For All Data

    Listen To This Episode: AppleSpotifyGoogleLibsynOvercast In this episode of The Van Wirdum Sjorsnado, Aaron and Sjors discuss Open Timestamps, a Bitcoin-based time stamping project from applied cryptography consultant and former Bitcoin Core contributor Peter Todd. Open Timestamps leverages the security of the Bitcoin blockchain to timestamp any type of data, allowing for irrefutable proof that that data existed at a particular point in time. Aaron and Sjors explain that virtually a...

  • Government Seizes 69,730 Bitcoin ($1 Billion) Tied To Silk Road

    On November 5, 2020, federal prosecutors filed a civil complaint describing the seizure of 69,370 bitcoin (worth about $1.06 billion at the time of this writing) from an individual who was able to steal the funds from darknet marketplace Silk Road. According to the complaint, the funds were stolen from Silk Road across 54 previously undetected bitcoin transactions in 2012 and 2013. As Ars Technica reported, earlier this year, federal authorities commissioned the blockchain analysis firm Chain...

  • Because Bitcoin Is A Necessity, Its Economy Will Be Circular

    Bitcoin is the perfect money in that it embodies all of the properties and functions of money — as a store of value (SoV), medium of exchange (MoE) and unit of account (UoA) — and does so in a way that any person or participant, from anywhere in the world can: Save without having their wealth invisibly stolenSpend without some big-brother-type institution telling them with whom or what they’re allowed to do soAccount for, audit and verify what they have, when they received it and how mu...

  • How Bitcoin Shakes The Energy Industry

    On August 28, 2020, oil and gas giant Equinor announced that it would be cutting its future flared gas volumes and bringing waste-gas to market by generating electricity and mining on the Bitcoin network. Equinor’s plans involve partnering with Denver-based firm Crusoe Energy Systems – Digital Flaring Technology. Five months before Equinor’s announcement (on March 5, 2020), Greenidge Generation LLC,  a Dresden, New York-based natural gas power plant, announced that it could be maki...

  • Outlining The Future Of Low Bandwidth Bitcoin

    There is a need to strengthen the Bitcoin ecosystem for people whose only computing device is a smartphone and who live where mobile internet access is expensive, slow, unreliable or censored. Senegalese Bitcoin developer Fodé Diop has made the point that many parts of the world are “mobile only,” not just “mobile first.” Mobile wallet apps that allow users to retain control of their private keys for signing transactions, but do not act as full Bitcoin nodes, are usually referred to ...

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