Every p-block with a payment in r-coins by a correct trader p ̸ = ris eventually approved or disapproved by an r-block [provided p and r are friends or have acommon friend in SG(B)]a.

An r-block b that repays a redemption claim with comment (redeem, P ), P =[p1, p2, . . . , pk], k ≥ 1, has a payment in pi-coins, i ∈ [k], provided the balance of r does notinclude any pj -coins for any 1 ≤ j < i at the time of creating b, and has a payment in r-coins,r /∈ P , provided the balance of r does not include any P -coins at the time of creating b

An r-block b with an empty payment and comment (disapprove, h′) pointsto an r-coin payment block b′, where h′ points to the reason for disapproval: To b′, if it isunbalanced, or to a block b′′ equivocating with b′

Given a blocklace B and two agents p, r ∈ Π, the r-coins balance of p in B isthe sum of r-coins payments accepted by p in B minus the sum of r-coins payments issued by p in B.

Finality: A p-block consumes a non-p-block b′ with a payment to p only if r approves b′.

consisting of r-coins, which can be thought of as IOUs issued and signed by r

The black agent mints a black coin, increasing its balance from 3 to 4 coins

C

and the red agent acceptsthe payment, increasing its balance to 6 black coins.

The black agent approves the payment

decreasing its balance to 2 black coins

Agree to redeem any domestic coin issued in return for any foreign coin held. Forexample, Alice must agree to a request by Bob to redeem an Alice-coin Bob holds against any coin heldby Alice.

eachpricing their goods and services in terms of their own personal coins. Next, assume that every two villagersexchange 100 personal coins with each other

Minting: Each agent p mints (i.e. creates initial NFTs with)its own p-coins, as many as it pleases

History of Blockchain Technology

Bitcoin was an interesting idea for a decentralised currency, until someone thought they could profit from it. There were interesting games that people enjoyed in the crypto space until people inevitably turned them into a pure profit making ventures. And the one I personally feel most bitter about: the decentralised web is a real movement that really fucking matters. Web3 ate up that movement and fucked it up for years.

How to Create a Cryptocurrency This course will guide you through the complete process of how to create a cryptocurrency, Just like Bitcoin and Litecoin, with your own blockchain network. Your coin can be mined just like other coins in the Crypto Market. No coding experience is required. Just basic knowledge of computers and servers is required.

can have a pretty outsized  carbon footprint and I'm wondering how   you reconcile the vast amount of computational  power necessary to accomplish this work and its   negative impact on the environment and whether  or not this is something you all are considering

The cypherpunks Who Um was this move-in from the 1990s these sort of 00:05:33 radical crypto little Libertarians who and that they call themselves crypto anarchists even who believe that they could use encryption tools and anonymity tools enabled by encryption to take power away from governments and 00:05:46 corporations and give it to individuals and they dreamed up you know things that would become vpns and tour and the dark web essentially and that's where Wikileaks came from for instance 00:05:58 Julian Assange was a Cypher Punk too who dreamed of using these tools to give anonymity to journalistic sources um but then in 2011 just as I was like uh writing a book that was kind of in 00:06:10 some ways a history of the cyberpunks um I Came Upon what seemed to be this new Cypher Punk invention which was Bitcoin you know

Bitcoin was monetizing this new Anonymous underworld of the internet and um that it was a way to kind of like send a briefcase full of unmarked bills from anywhere across the internet to 00:07:25 anywhere else in the world without identifying yourself and only now you know I mean not quite now but like only about almost a decade later that I kind of fully have this Epiphany that 00:07:38 actually it was the opposite the Bitcoin was the opposite of untraceable that it was in fact extremely traceable and that not only that but but it had served as a kind of trap for people seeking 00:07:51 Financial privacy and particularly criminals uh cyber criminals of every stripe for years and years and once I sort of Saw that this had happened I actually really 00:08:02 it came from seeing Justice departments announcements of takedowns and in each one they credited this one company called chain analysis which was uh I knew at the time a Bitcoin a 00:08:15 cryptocurrency tracing firm and it's began you know I sort of like read the research I'd seen hints over the years of how traceable cryptocurrency was but once I saw like how many of these cases 00:08:27 chain analysis specifically this startup tracing cryptocurrency was involved in

If you want to read a poorly researched fluff piece about Sam Bankman-Fried, feel free to go to the New York Times (PDF). If you want to understand what happened at Alameda Research and how Sam Bankman-Fried (SBF), Sam Trabucco, and Caroline Ellison incinerated over $20 billion dollars of fund profits and FTX user deposits, read this article. (And follow me on Twitter at @0xfbifemboy!)

Unlike a cryptocurrency like Bitcoin, the digital yuan is issued directly by China’s central bank and does not depend on a blockchain. The currency has the same value as its analog equivalent, the yuan or RMB, and for consumers the experience of using the digital yuan is not that different from any other mobile payment system or credit card. But on the back end, payments are not routed through a bank and can sometimes move without transaction fees, jumping from one e-wallet to another as easily as cash changes hands.

You throw away computing power as fast as possible to show you deserve the bitcoins. Your chance of winning the bitcoin lottery is in direct proportion to how much you waste. Bitcoin mining now uses over 0.5% of all the electricity in the world — for the same seven transactions per second it managed to do in 2009. Bitcoin is the most inefficient payment system in human history.

In principle, you could use stablecoins as money, like how you use deposits as money. Stablecoins are not used like money; rather than facilitating almost the entire diversity of transactions in the economy, they are overwhelmingly used for a few niche use cases.

Crypto is a good example, to avoid stigmatizing developing nations. There is an exchange rate, constantly changing, between the stablecoins USDC and USDT, between both of those coins (independently) and the dollars they theoretically represent. Different rates prevail in different places and different transaction sizes. This makes stablecoin-settled commerce very rare relative to money-settled commerce.

Apr 5, 2022 — MicroStrategy (MSTR), a bitcoin-accumulating business-intelligence software company, said it bought another 4,167 BTC for around $190.5 million.microstrategy bitcoinmicrostrategy bitcoin holdingsmicrostrategy bitcoin holdings chartmicrostrategy bitcoin purchase historymicrostrategy selling bitcoinbitcoin pricePeople also search for

“Smart contract” is a fancy term for small computer programs that run directly on a blockchain. Bridges work by having a smart contract on both the blockchains. The bridge uses a relay to transmit messages back and forth between the smart contracts on each of the two blockchains

Stoller acknowledged that there might be a “genuine leap of technical capacity” brought about by crypto, but he hasn’t seen it for himself. The rampant and accruing amount of fraud involving crypto is also an indicator of intent to Stoller. “If blockchain proponents want to advance their technology, they would eagerly seek to get rid of the fraud, but I don't see that happening,” he said. “That signals to me the fraud is the point.” Or more specifically, as Kelsey Hightower argues, money is the point: “It’s not like someone looked at blockchain and said, ‘Oh, my God, we finally have a better database for storing transactions!’” Instead, what made blockchain’s big promises so compelling were stories of people turning a small amount of money into a lot. “And in our society, we equate morality to money,” Hightower said.

To me, the problem isn’t that blockchain systems can be made slightly less awful than they are today. The problem is that they don’t do anything their proponents claim they do. In some very important ways, they’re not secure. They doesn’t replace trust with code; in fact, in many ways they are far less trustworthy than non-blockchain systems. They’re not decentralized, and their inevitable centralization is harmful because it’s largely emergent and ill-defined. They still have trusted intermediaries, often with more power and less oversight than non-blockchain systems. They still require governance. They still require regulation. (These things are what I wrote about here.) The problem with blockchain is that it’s not an improvement to any system—and often makes things worse.

Proof-of-work is not the only technology we have on which to build consensus protocols. Today, many forward-looking networks are deploying proof-of-stake (PoS) for their consensus. In these systems, your “voting power” in the network is determined by your ownership stake in some valuable on-chain asset, such as a new or existing electronic token. Since cryptocurrency has coincidentally spent a lot of time distributing tokens, this means that new protocols can essentially “cut out the middleman” and simply use coin ownership directly as a proxy for voting power, rather than requiring operators to sell their coins to buy electricity and mining hardware. Proof-of-stake systems are not perfect: they still lead to some centralization of power, since in this paradigm the rich tend to get richer. However it’s hard to claim that the result will be worse than the semi-centralized mess that proof-of-work mining has turned into.

What emerged was a picture that was simultaneously murky and clarifying, in that there’s not one good answer. Some of what it does is promising; a lot of what it does — even boosters admit — is trash, and trash that’s costing some people a lot of money. This probably isn’t the death knell for crypto — it’s gone through plenty of boom and bust cycles in the past. It would be unwise to definitively say that crypto has no chance of being a game changer; it would also be disingenuous to claim it is now.

Blockchains are immutable, which means once data is recorded, it can’t be removed. The idea that blockchains will be used to store user-generated data for services like social networks has enormous implications for user safety. If someone uses these platforms to harass and abuse others, such as by doxing, posting revenge pornography, uploading child sexual abuse material, or doing any number of other very serious things that platforms normally try to thwart with content-moderation teams, the protections that can be offered to users are extremely limited. The same goes for users who plagiarize artwork, spam, or share sensitive material like trade secrets. Even a user who themself posts something and then later decides they’d rather not have it online is stuck with it remaining on-chain indefinitely.

Biometrics play an important role in colonial history: British administrators began experimenting with them in the 1850s as a way to control and intimidate their subjects in colonial India. Worldcoin’s activities in India, as well as other former British colonies such as Zimbabwe, where banks are banned from processing crypto transactions, and Kenya, where a new law forbids the transfer of biometrics data beyond the country’s borders, evoke Silicon Valley’s history of ignoring sensitive cultural issues and skirting regulations.

And protecting life-supporting cooperation requires suppressing certain kinds of selfishness. Biologists, unlike many economists, grasp when the “greed is good” ethos gets deadly.

t wasn't long ago that very few people had heard the word “cryptocurrency,” and even less knew what it meant.

Digital currencies are secured using cryptography and combining that with their role as a currency gives us the compound word cryptocurrency.

Was it helpful? Donate some BTC!

The company has sky-high hopes that Libra could become the foundation for a new financial system not controlled by today’s power brokers on Wall Street or central banks.

若先不論這些國家實踐國家數字貨幣的可能性，比特幣這種無主權的貨幣背後的區塊鏈技術，確實勾起了這些反美國家的興趣。 在數位化時代下，透過分散式帳本技術，它賦予了國家發行具有主權性質的密碼貨幣的能力，這也讓國際政治之間的糾紛多添了一些變數。 一方想要透過區塊鏈自建金融體系，一方想要強烈抵制這樣的行為，區塊鏈作為達到開放性金融（Open Finance）的一種「手段」，而美國作為目前世界的霸權，反美政權有機會挑戰該國對於世界經濟的「完全主導權」？還是對於透過區塊鏈創造金融壁壘的想像只是曇花一現？值得關注。

駭客入侵了 DNS 的服務商，欺騙惡意將用戶從一個站點重定向到虛假網站點，在竊取用戶的敏感個人資訊後，使用它來訪問用戶的帳戶。 簡單的舉例來說，你在前往銀行的路上迷路了，有人假冒警察給你指了一條通往假銀行的路，你在存錢之後輸入了銀行密碼，假銀行就拿著你的密碼去真銀行領錢。照理來說，真銀行不該負責，而是真警察沒有做好被假冒的風險防護。（唯一不同的是，在網路世界你必須要詢問 DNS 才能知道銀行的所在） 因此，遭受攻擊的是 DNS 的提供商，而不是交易所本身。照理來說，交易所沒有承擔責任的義務。

Regulating cryptocurrency without hindering innovation is a challenge for many governments. But Japan seems to be striking a pretty good balance. After the Coincheck incident, the FSA “studied very hard about cryptocurrency and cybersecurity” and wound up better informed than most consultants in the industry, says Oki Matsumoto, chairman and managing director of Monex, Coincheck’s new owner.

Grin is easily the most technologically advanced and fascinating cryptocurrency to be released since Bitcoin. It'll be interesting seeing Bitcoin maximalists come up with logic to convince themselves to be OK with shilling it. Personally, I'm a big fan, will be buying lots of it!

援引《彭博社》消息，華爾街證券研究公司 Fundstrat Global Advisors 的聯合創辦人 Tom Lee 12 月 13 日向客戶發電郵時透露，已經厭倦人們不斷詢問目標價格，有鑑於加密貨幣的內在波動性，該公司將停止提供任何「實現公允價格」的時程表。 換句話說，這表示華爾街最著名的比特幣預言家，已經決定放棄對其價格進行預測。 原因很簡單，若回顧 Tom Lee 過去的研究報告，我們會發現他曾預測比特幣的價格將在 2018 年終達到 20,000 美元的目標價格；而年終的預測價格則為 25,000 美元。到了 11 月，他將目標價格削減至 15,000 美元，但比特幣當時的交易價格僅為 5,500 美元，隨後更跌至 4,000 美元左右。總體而言，比特幣價格全年下降超過 70%，而 Tom Lee 最近一次預測的「公允價格」範圍在 13,800 美元到 14,800 美元之間。

欲戴皇冠，必承其重。“交易即挖矿”曾使FCoin撬动了老牌交易所的地位，不可否认它是成功的，它可以帮助新交易所快速积累用户和交易量，但FT没有实际价值支撑，则是一切崩盘最根本的原因。蜂拥而来的用户并没有忠诚度，对于交易所来说并不是健康的发展模式，人们最关心的是平台币涨跌，交易所的政策、发展、生态建设与他们毫无关系。当进度条推动到此时，和张健所说的要建立一个透明社区的理想，恐怕已经相去甚远。 

According to Capital, customers can purchase Bitcoin for the sums of 50, 100 or 250 euros. The tobacco shop then provides a ticket with an alphanumeric code and a QR code, which can then be used to obtain the purchased bitcoins via Keplerk’s website. The magazine adds that Keplerk collects a 7 percent fee on each payment, 1.25 of which then goes to the tobacco shop.

市场并不是保持不动的，减产一方面会减小市场抛压，可能使得人们会将其视为一种利好，但通常会在分叉发生前表现出来，而一旦落地之后，所谓的利好就会被消耗一空，并在短时间内表现为利空。而等到市场转向理性之后，又会逐步平衡。

Who would have thought crypto investors would be U.S. securities law experts by the end of 2018

Billions of dollars are “wasted” via proof of work, which results in a “loss of resources that’s spread out across every single cryptocurrency user, and ultimately through all the environmental externalities, every single person in society.” It‘s also pretty bad for the brand: “Like, it could mean the difference between anyone who really cares about the environment being your friend versus trying to stop you.”

被修复的并不是这些互联网巨头，而是区块链本身。那些承诺将世界从资本主义的枷锁中解放出来的加密货币创业公司，现在甚至无法保证其自己员工的收益。Facebook的方法是整合区块链的碎片并紧跟潮流，从而让股东更容易接受。

DX Exchange uses Nasdaq’s Financial Information Exchange (FIX) protocol to facilitate trades. Using this platform, DX Exchange allows users to swap tokenized stocks in major global companies, including Amazon, Baidu, Apple, Facebook, Google, Intel, Microsoft, Netflix, Nvidia, and Tesla. All of these companies will be available for trading on the platform as easily as you would swap tokens on a conventional cryptocurrency exchange.

The Bank of England’s survey asks participants to choose their preferred way to receive money as a Christmas gift, showing the options cash, bank transfer, gift voucher and digital currency. At press time, 8,230 people have responded and 70 percent of them have chosen digital currency.Cash is in second place, with 21 percent of respondents indicating it as a their “favorite way to get” money as a gift. Bank transfers and gift vouchers are currently the least popular forms, chosen by 7 percent and 2 percent of respondents respectively.

The Practice of Change Joi's Keio University Graduate School of Media and Governance PhD Dissertation.

Chipmakers Nvidia, AMD Ride Cryptocurrency Wave — for Now

Hence Linux, hence Wikipedia. Because these communities could grow and collaborate without geographic constraint, major work was done at significantly lower cost and often zero price.

Recent posts by Adrian Hope Baille and Sina Motamedi have got me thinking again about the idea of the Federal Reserve (or any other central bank for that matter) adopting bitcoin technology. Here's an older post of mine on the idea, although this post will take a different tack.

80 percent of those transactions are mere speculation, where bitcoin is traded as a commodity in search of a profit. That 20 percent figure is actually much higher than in previous years, but Coinbase hopes to push it higher still. This morning, in an effort to nudge bitcoin toward the mainstream, the company unveiled the country’s first bitcoin debit card. It’s called the Shift Card, and it lets you spend bitcoin at any merchant—both online and off—that accepts an ordinary VISA card.

The more people who use bitcoin, the more useful it becomes—the closer we get to a place where we can send money across the Internet as easily as we send texts or emails.

Blockchains can also implement business rules, such as transactions that take place only if two or more parties endorse them, or if another transaction has been completed first.

Blockchains are also the latest example of the unexpected fruits of cryptography. Mathematical scrambling is used to boil down an original piece of information into a code, known as a hash. Any attempt to tamper with any part of the blockchain is apparent immediately—because the new hash will not match the old ones. In this way a science that keeps information secret (vital for encrypting messages and online shopping and banking) is, paradoxically, also a tool for open dealing.

The blockchain is an even more potent technology. In essence it is a shared, trusted, public ledger that everyone can inspect, but which no single user controls. The participants in a blockchain system collectively keep the ledger up to date: it can be amended only according to strict rules and by general agreement. Bitcoin’s blockchain ledger prevents double-spending and keeps track of transactions continuously. It is what makes possible a currency without a central bank.

But most unfair of all is that bitcoin’s shady image causes people to overlook the extraordinary potential of the “blockchain”, the technology that underpins it. This innovation carries a significance stretching far beyond cryptocurrency. The blockchain lets people who have no particular confidence in each other collaborate without having to go through a neutral central authority. Simply put, it is a machine for creating trust.

I’m intrigued by the notion that social networks could eventually replace our currency. If economic growth lives up to the hype, we’ll all live like the rich someday, so why not print our own money, too?

we can build a cryptocurrency where each digital coin is unique and singular, just like the art hoarded in Basel and Singapore.