What Is Bitcoin, and How Does It Work?

  • The records of the Bitcoin network, including all balances and transactions, are stored on every computer helping to maintain the network — about 9,500 computers in late 2017.
  • Bitcoin mining refers to the process through which new Bitcoins are created and given to computers helping to maintain the network.
  • The computers involved in Bitcoin mining are in a sort of computational race to process new transactions coming onto the network.
  • Anyone can set his or her computer to mine Bitcoin, but these days only people with specialized hardware manage to win the race.
  • While several people have been identified as likely candidates to be Satoshi, as the creator is known in the world of Bitcoin, no one has been confirmed as the real Satoshi, and the search has gone on.

Growing in importance but still not well understood, Bitcoin is a virtual currency with a novel background.
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Finally! A primer on cryptocurrency (Bitcoin) you will actually get, promise

What the heck is Bitcoin? 

Here's an explainer from CBC's @SarahSmellie

  • Scott Stevenson was pretty uneasy the first time be bought Bitcoin.
  • Think of it as digital cash – in a sense, Stevenson was right to call it “computer cash” or “internet money.”
  • Bitcoin value changes when a new coin is “released” into the network.
  • People tend to be attracted to Bitcoin and other cryptocurrency systems like Ethereum because there is no central regulator.
  • Most people with regular jobs, said Stevenson, aren’t going to have the time (or the nerves) to check in on the coin market multiple times a day.

How it is and isn’t like regular currency, and what to consider if you’re thinking of investing.
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More than half of UK electricity came from low carbon sources over last three months

  • More than half the UK’s electricity came from low carbon sources in the last three months, making it the “greenest” summer on record, National Grid said.
  • Average carbon dioxide emissions for each unit of power fell by more than half (56 per cent) between summer 2013 and 2017 as more electricity came from low carbon sources and polluting coal is increasingly pushed off the system, the figures show.
  • As it revealed the figures, National Grid is launching new software that forecasts the “carbon intensity” – how much carbon emissions are caused by each unit of power – of electricity generation up two days ahead.
  • National Grid is working with the Environmental Defence Fund Europe and WWF to make the software, which aims to help people better understand and control their energy use, openly available to the public.
  • The software combines National Grid’s knowledge of the energy system with weather data from the Met Office to forecast the share of renewable and non-renewable energy on the grid over the next 48 hours and the resulting carbon emissions.

More than half the UK’s electricity came from low carbon sources in the last three months, making it the “greenest” summer on record, National Grid said. From 21 June to 22 September, almost 52 per cent of electricity generation was from sources ranging from renewables, such as solar and wind, to nuclear power, up from 35 per cent for the same period just four years ago.
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Jamie Dimon lays into bitcoin again, says it’s ‘worth nothing’

#bitcoin = 🌷mania + monopoly 💰 #fakecurrency $BTC $crypto #Bitcoin

  • JPMorgan Chief Executive Jamie Dimon has laid into bitcoin and digital currencies once again, warning that governments will shut them down if they grow too large.
  • Dimon was concerned that with bitcoin, ethereum and various Initial Coin Offerings (ICOs), there are now cryptocurrencies everywhere.
  • Dimon warned that governments will eventually crack down on cryptocurrencies and will attempt to control it by threatening anyone who buys or sells bitcoin with imprisonment, which would force digital currencies into becoming a black market.
  • These are the latest comments from Dimon attacking bitcoin.
  • Dimon’s comments came under criticism from several bitcoin investors and experts.

JPMorgan Chief Executive Jamie Dimon has laid into bitcoin and digital currencies once again, labeling it a “novelty” that is likely to end badly.
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Jamie Dimon lays into bitcoin again, says it’s ‘worth nothing’

Jamie Dimon lays into bitcoin again, says it’s ‘worth nothing’

  • JPMorgan Chief Executive Jamie Dimon has laid into bitcoin and digital currencies once again, warning that governments will shut them down if they grow too large.
  • Dimon was concerned that with bitcoin, ethereum and various Initial Coin Offerings (ICOs), there are now cryptocurrencies everywhere.
  • Dimon warned that governments will eventually crack down on cryptocurrencies and will attempt to control it by threatening anyone who buys or sells bitcoin with imprisonment, which would force digital currencies into becoming a black market.
  • These are the latest comments from Dimon attacking bitcoin.
  • Dimon’s comments came under criticism from several bitcoin investors and experts.

JPMorgan Chief Executive Jamie Dimon has laid into bitcoin and digital currencies once again, labeling it a “novelty” that is likely to end badly.
Continue reading “Jamie Dimon lays into bitcoin again, says it’s ‘worth nothing’”

How Blockchain Can Disrupt the Payments Industry? Will it Be the End of PayPal?

  • In an effort to re-instill trust in payment transactions, world’s first Blockchain solution UTRUST aims to bridge the gap between consumer and seller trust online.
  • In fact, UTRUST hopes to implement the world’s first cryptocurrency consumer protections into its platform to ensure that the consumer protection are in place especially for transactions usually plagued with fraud such as traditional online purchases, acting as a mediator, resolver of conflicts, enabling the possibility of refunds to mitigate risks and fraud, while shielding the merchant from cryptocurrency market volatility.
  • In its partnership Swiss Blockchain incubator, Crypto Valley, the company aims to champion online trust and implement consumer protections on a mass scale, building up a global payment system that is very similar to that of PayPal but benefiting from Blockchain endless advantages.
  • Backed with their experience in fintech and Blockchain, the Switzerland-based company has created a new way of online payment where people can trade in cryptocurrencies ensuring that every transaction is secure for everyone involved by providing innovative purchase protection mechanisms in place.
  • UTRUST and Crypto Valley agrees in one mission, and that is to ensure the interest of both the consumer and merchants’ by creating a secure cryptocurrency platform.

Around 1.2 million dollars worth of online business transactions are done every half a minute, according to AdWeek. Out of those transactions, retailers …
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Smart Investment for the Middle Class: BitShares

  • Every day there seems to be a new story about an average Joe who bought some Bitcoin years ago for a few hundred dollars and turned that small investment into a fortune, buying a new house, car or retiring early.
  • Fortunately, the cryptocurrency sector is overflowing with opportunity and there may just be the “next Bitcoin” waiting to take off!
  • The cryptocurrency BitShares could potentially be the next “Apple” or “Bitcoin” and it is currently trading for less than $0.15!
  • BitShares offers some unique features and at this price could be the next life changing investment.
  • These features include price-stable cryptocurrencies, custom user issued assets, the creation of Distributed Autonomous Companies (DAC) and the BitShares Decentralized Exchange (DEX).

Bitcoin and other cryptocurrencies have been on a tear lately, with many of the digital tokens hitting all-time highs. Many investors have been making fo…
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Can The Transport Ecosystem Be Disrupted with Blockchain?

  • With the fast-paced emerging of technology, blockchain has been born and now fills up the commerce and business news.
  • Today, many companies are already testing the capabilities and possibly leveraging the uses of Blockchain technology into their core business, and because of its popularity, start-up companies emerged on the surface.
  • Blockchain can disrupt the transport ecosystem in such a way as it will be more convenient and safer for the consumers and it will build trust and innovative solutions to the current transportation systems.
  • Blockchain technology will also provide security for the user’s identity, age, coverage such as insurances, ability to pay while being under the protection of anonymity of the commuter’s travel information.
  • Promising businesses such as DOVU aims to change the way we live, the way we do business and the way we travel by enabling a system that is powered by data and trust.

With the fast-paced emerging of technology, blockchain has been born and now fills up the commerce and business news. It is taking everything by storm an…
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How can I buy bitcoin in the UK?

  • The price of bitcoin has been surging in recent months.
  • Bitcoin is famously volatile – few can predict with any certainty where it will go from here and many believe we’re in the middle of a bubble – but one thing’s certain: if you’d invested five years ago you’d be doing very well for yourself now.
  • There are two main ways to get hold of bitcoin – buying an expensive supercomputer (with a whopping electricity bill to match), and using it to “mine” bitcoins, the process of solving the cryptographic codes that keep the entire network running.
  • Buying bitcoins used to be a complicated affair – long waits, massive fees and foreign websites.
  • Now there are a number of consumer-friendly websites for buying and selling not only bitcoin, but etherium and other cryptocurrencies.

The price of bitcoin has been surging in recent months.
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