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Driverless vehicles are at ‘actual danger’ of being hacked

by mark norton

Related nature of those autos may make them a ‘goal’ for hackers Skilled Matthew Channon has written to MPs to warn of the hazard of accidents Know-how specialists agree that ‘related and autonomous autos’ with out drivers are in danger, following two high-profile US hacks of vehicles By Victoria Allen Science Correspondent For The Every […]

Source: Science of Crypto
Driverless vehicles are at ‘actual danger’ of being hacked

The ‘Satoshi Coins’ Would Make Bitcoin’s Creator One of the Wealthiest People in the World

by writer
The ‘Satoshi Coins’ Would Make Bitcoin’s Creator One of the Wealthiest People in the World

The “pseudonym” Satoshi Nakamoto is worth more than $7 billion. Nakamoto’s potential bitcoin stake would be extremely high and would put the anonymous creator among the wealthiest people in the world.

Fiat currency’s fluctuation can easily be regulated by Government and Banks. But when it comes to cryptocurrency like Bitcoin, even big Banks are in handcuffs due to the secret identity of its founder and its decentralized nature.

Probing around the web, “Satoshi Nakamoto” is the only named revealed as the founder of Bitcoin, a computer programmer who invented Bitcoin and the currency’s cryptography with a decentralized nature. The identity is constrained in such a way that it points “pseudonym” which doesn’t specify whether it’s a man, woman, person or a group of people.

In 2008, the whitepaper appeared at metzdowd.com entitled “Bitcoin – A peer-to-peer Electronic Cash system.” Later in 2009, bitcoin has been launched with version 0.1 bitcoin software on Sourceforge.

However, it is still unclear who the real identity or identities behind “Satoshi Nakamoto” are, but the name was materialized across mailing list of whitepaper as the author. With increased popularity, Sergio Demian Lerner determined an estimate of how many bitcoin Satoshi Nakamoto held in 2013. Though he was unknown to everyone, in 2015, UCLA has announced him for the Nobel prize in a stream of Economic Science.

Bitcoin is continued reaching new milestone without valid evidence as to who invented it. Its decentralized volume has alleviated the new pace for country’s currency regulators to run the fiat currency in a more stabilized manner across the nation. Even though investor’s discussion, trader’s controversy and government’s regulation, Bitcoin is continuously trading with high volume.

Nothing prevents Bitcoin from breaking out the new record every time; few say it is a Bubble, others say it is a fake currency. There is no doubt that “cryptocurrency concept” originated with Bitcoin and now it has been used and continuing emerging across all businesses including banking, retailing, and media entertainment.

Nakamoto’s Bitcoin has a limit of 21 million where one million bitcoins are count for just under five percent of the total supply of the cryptocurrency. A bitcointalk post from 2011 elaborates on how the estimate of Satoshi’s worth was determined:

“the majority of the coins mined in 2009 (73 percent, 1,191,852 BTC) are still in possession of the original miner… Therefore I think we can safely assume that the people that mined the early coins in 2009 (likely “Satoshi Nakamoto and some friends”) did not sell or otherwise give away the majority of these coins. The coins that were moved (27 percent) might also well be still in their possession.”

John Hopkins University professor Matt Green has certainly described Satoshi’s power of overhauling the cryptocurrency market if they wish to do so. He further described Bitcoin as follows:

“The thing about bitcoin is if you control a million of them, you have the ability to flood the market at any point. Think of them as rare baseball cards. They’re valuable because they’re rare. If somebody could dump hundreds or thousands of Mickey Mantle trading cards, rare ones, onto the market, they wouldn’t be worth so much anymore.”

If Nakamoto would exist then his major share in Bitcoin would be much higher and would become a renowned person with the highest income in the world.

Accordingly, San Francisco’s investor expressed his opinion:

“If bitcoin fulfills its role of becoming a global currency, than Satoshi Nakamoto would likely be the richest person in the world and also hold a proportionately higher share of the ultimate supply of bitcoin than something like the U.S. government holds in gold today.”

However, Nakamoto said “Lost coins only make everyone else’s coins worth slightly more. Think of it as a donation to everyone,” and it may be possible that these holdings are actually a very generous, initial donation whether intentionally or by accident, removing more than one million coins from the available supply forever.

Source

The post The ‘Satoshi Coins’ Would Make Bitcoin’s Creator One of the Wealthiest People in the World appeared first on Bitcoins Channel.

Source: Science of Crypto
The ‘Satoshi Coins’ Would Make Bitcoin’s Creator One of the Wealthiest People in the World

Bitcoin Cash Up As Original Chain’s Price Recedes

The fork of Bitcoin from August 2017 known as Bitcoin Cash (BCH) surged over 30% on Friday according to industry price analysts at Coinmarketcap. This corresponded with a marked drop in the price of the original Bitcoin’s (BTC) price to its lowest point since the start of November. Analysts are attributing the redistribution to the failed Segwit2x fork which was scheduled later this month. However, interestingly there seems a lack of consensus as to why traders are moving from BTC to BCH.

Some believe that it’s simply a matter of those traders who were holding Bitcoin to receive a dividend of new coins like what happened in August selling and moving back into various altcoins. Looking at the sea of green over Coinmarketcap immediately following the decision would suggest there’s a fair bit of truth in their opinion too. For them, part of the huge run up in price was caused by people buying in to get free coins. Now that there are no new coins, the money is flowing elsewhere. Chris Burniske, author of Cryptoassets: The Innovative Investor’s Guide to Bitcoin and Beyond believes this to be the case. He told CNBC:

You can see people playing back and forth between bitcoin and bitcoin cash trading depending on where they think near-term catalysts may be. It’s been a battle of investors versus traders that were stockpiling bitcoin to get their ‘bitcoin2x dividend’.

However, not all see it like this. There are some analysts who interpret the shift towards Bitcoin Cash as a belief in that version of the code, rather than the original – known in the industry as Bitcoin Core. For proponents of BCH like Roger Ver, the use of bigger blocks as a scaling method are closer to Satoshi Nakamoto’s original vision. Second layer scaling solutions like Segwit are not in line with the whitepaper which the mysterious Nakamoto published before disappearing early in the life of Bitcoin.

For those like director of XTB, Joshua Raymond, Segwit2x was an important step towards scaling the chain to be able to handle more transactions per second. More pragmatic than many of the hard coding, computer science-orientation anti-Segwit2x crowd, Raymond told Business Insider:

Everyone was hoping the Segwit2x would address this [transaction cost and time] but unfortunately, the delay due to a lack of consensus on the mechanics has affected confidence. Confidence on transaction speed in Bitcoin has deteriorated significantly in recent months. As Bitcoin Cash enjoys much faster transaction speeds, we have started to see a recycling of positions out of Bitcoin into Bitcoin Cash as a consequence.

For now, it’s unclear which interpretation of the numbers holds most truth. However, what is curious is that today, many alt coins like ETH and NEO are in the red as Bitcoin Cash moves higher. This casts doubt over the thesis that Bitcoin’s decline is simply down to people selling their BTC positions because there’s no longer a free dividend up for grabs. The negative growth of the rest of the market combined with the speed that BCH is rising suggests something more monumental might be afoot.

The post Bitcoin Cash Up As Original Chain’s Price Recedes appeared first on NEWSBTC.

Source: Science of Crypto
Bitcoin Cash Up As Original Chain’s Price Recedes

How Encryption Will Survive the Crypto-Apocalypse

Most people don’t realize it, but the world runs on cryptography. The art and science of secure communication is integral to everything from instant messaging apps to online banking and modern warfare. Today, cryptography relies on a handful of algorithms so secure that the heat death of the universe would occur before anyone would beContinue reading →

Source: Science of Crypto
How Encryption Will Survive the Crypto-Apocalypse

When Intelligent Algorithms Start Spoofing Each Other, Regulation Becomes A Science

by mark norton

What’s to stop intelligent algorithms, programmed to make a profit, from learning to collude with one another in ways which bend market rules? Such a scenario would require regulatory oversight from the very cutting edge of computer science. The idea of artificial intelligence manipulating outcomes in the real world and then exploiting these on the […]

Source: Science of Crypto
When Intelligent Algorithms Start Spoofing Each Other, Regulation Becomes A Science

The ‘Fintech’ Approach To Data Science And Machine Learning

by mark norton

Within the silos of incumbent financial services, so-called fintech companies are good at picking off one thing only and doing it well. This approach is also taken within data science, where a lot of the properly intelligent work is about understanding the domain (problem) and how best to use the information/data for the problem you […]

Source: Science of Crypto
The ‘Fintech’ Approach To Data Science And Machine Learning

National Science Foundation Awards $450k for Cryptocurrency Incentive Study

by alicia p

National Science Foundation Awards $450k for Cryptocurrency Incentive Study A Princeton University researcher has received more than $400,000 in federal funding to study mechanism incentives and their applications to cryptocurrencies like bitcoin. The study project, “Duality-based tools for simple vs. optimal mechanism design and applications to cryptocurrency”, is being led by Seth Weinberg, an assistant professor of computer…

The post National Science Foundation Awards $450k for Cryptocurrency Incentive Study appeared first on Altcoin Today.

Source: Science of Crypto
National Science Foundation Awards 0k for Cryptocurrency Incentive Study

National Science Foundation Awards $450k for Cryptocurrency Incentive Study

A Princeton University researcher has received more than $400,000 in federal funding to study mechanism incentives and their applications to cryptocurrencies like bitcoin. The study project , “Duality-based tools for simple vs. optimal mechanism design and applications to cryptocurrency”, is being led by Seth Weinberg, an assistant professor of computer science at Princeton. The grant, worth $450,000, […]

The post National Science Foundation Awards $450k for Cryptocurrency Incentive Study appeared first on Bitcoin Wiki.

Source: Science of Crypto
National Science Foundation Awards 0k for Cryptocurrency Incentive Study