In Senate Hearing, Facebook’s Iffy Reputation Looms Over Libra Plans

Today, Libra project head David Marcus testified in front of the United States Senate Banking Committee on Facebook’s incipient “cryptocurrency.” The discussion was largely overshadowed by Facebook’s tarnished reputation for user privacy and the mistrust its business practices have engendered.  Facebook announced Libra a little less than a month ago, but the idea of it has already captivated lawmakers and regulators around the globe. From the day of its unveiling, officials have raised concern over consumer data integrity/privacy, anti-money laundering (AML), terrorism financing and the fact that Facebook has proposed…

We Used Lightning Payments for Private SMS Messaging: Here’s How It Worked

Remember the ubiquitous public pay phones? Not so long ago, you could find them at every street corner and they allowed anybody to either make inexpensive calls or receive important messages in desperate situations. They were private in the sense that they required no identification, they offered a neutral degree of safety by virtue of their open positioning and their convenience inspired many Hollywood screenwriters to portray them as criminal tools — just ask John McClane in “Die Hard With a Vengeance.”   But in the era of affordable personal cell…

Making the Tech an Aesthetic, the Bitcoin Art Scene Is Blossoming

When cryptograffiti quit his day job and dove into creating Bitcoin art full time, the concept of thriving as a Bitcoin professional — let alone one whose beat is visual art — would have been ludicrous to most.  In 2012, this included shredding credit cards for resin sculptures and dabbling in street art, all in the name of the Bitcoin brand. “It was super risky early on, and having to explain to family what I was doing [was difficult],” he told Bitcoin Magazine. “I started doing street art and I…

Op Ed: How to Hedge Your Digital Asset Portfolio Using Bitcoin Futures

The crypto bear market in 2018, which saw the price of bitcoin drop by over 73 percent and those of altcoins drop by over 90 percent, made an excellent case for the need to hedge digital asset portfolios.  And with bitcoin’s meteoric 2019 rally in the first half of the year, protecting those gains from a sudden and potentially steep drop in value may be prudent. Fortunately, as the crypto asset trading ecosystem has evolved over the past 10 years, there are now several bitcoin derivatives that investors can use…

New Block Explorer Creates Sonorous, Galactic Experience of Bitcoin Blockchain

Charles Hoskinson’s new block explorer has made Bitcoin into a planet. Seriously. The latest project from Hoskinson’s engineering company, IOHK, dubbed Symphony 2.0, portrays Bitcoin’s mempool “as a gravitational swell,” with the entirety of the blockchain’s ledger wrapped around this core like the rings of Saturn. On these rings, blockgazers hover over a 3-D representation of Bitcoin’s entire transaction history and can examine block data in both physical and numerical forms. “The Symphony project began with a question: how do we represent blockchain technology in a way that is stimulating,…

At Bitcoin 2019, Scientists Cited in White Paper Weigh In on the Future

While crypto fanatics have been buzzing with news about bitcoin price surges and Facebook’s introduction of its digital currency libra, the Bitcoin 2019 conference brought together some of the most significant people in the BTC community for a two-day event to discuss the current and future state of Bitcoin.  Among the conference speakers were Scott Stornetta, chief scientist at Yugen Partners, and Blockstream CEO Adam Back, the creator of Hashcash. These two crypto scientists are particularly notable because they were directly cited by Satoshi Nakamoto in the Bitcoin white paper.…

The Cost of Sound Money: New Tool Tracks Bitcoin’s Energy Consumption

The University of Cambridge’s Judge Business School just released what might be the most statistically sound and feature-rich model on Bitcoin’s power consumption to date. The Cambridge Bitcoin Electricity Consumption Index (CBECI) provides estimates for Bitcoin’s real-time and annual electrical appetite with a live data feed that updates every 30 seconds. These data points are divided into three categories: upper bound, estimated and lower bound consumption. Together, they give a liberal, average and conservative spread for Bitcoin’s actual power use.  CBECI’s team provide all three figures in order to weigh…

Being John McAfee: A Bitcoin Magazine Podcast Interview

On today’s episode, Dave and Grahm chat with the one and only John McAfee, who is currently living in exile in Cuba. They talk about freedom, Bitcoin, McAfee’s new McAfee Magic trading platform, as well as his 2020 presidential campaign, the McAfee movie starring Michael Keaton, death threats and more! Resources: McAfee Magic The McAfee Movie Twitter: John McAfee The post Being John McAfee: A Bitcoin Magazine Podcast Interview appeared first on Bitcoin Magazine. Source link

Bitcoin (BTC) Chart Bullish (Again) After Recovery to $11,000

Bitcoin Now Bullish After Recovery Activates After entering the $9,700 region just the other day, Bitcoin (BTC) has bounced back. Hard. As of the time of writing this article, the leading cryptocurrency sits at $11,000 — up nearly 7% in the past 24 hours as BTC registers a strong bounce after a 30% selloff that took place over a matter of days. While this bounce is to be expected, is the Bitcoin price chart bullish once again, just like it was earlier this month? According to a number of prominent…

Binance to Launch Bitcoin Futures as LedgerX, ErisX Snag CFTC Licenses

Binance to Launch Futures In a recent keynote, Binance chief executive Changpeng “CZ” Zhao unveiled a surprising tidbit of news. Speaking to the crowd at the Asia Blockchain Summit in Taipei, which is soon expected to see a monumental debate between BitMEX’s Arthur Hayes and staunch Bitcoin critic Nouriel Roubini, the exchange head revealed that his firm would soon be launching cryptocurrency futures. A slide from Zhao’s keynote can be seen below. The slide shows a preliminary version of the trading platform, which may purportedly allow for up to 20…