In addition to being Bitcoin’s 10th birthday, Jan. 3, 2019 will go down in history as being the crypto world’s inaugural Proof of Keys day. The initiative, conceived by Trace Meyer just weeks ago, has drawn broad support from cryptocurrency influencers and businesses. Over the past 24 hours, crypto companies have tweeted their encouragement for […] The post Bitcoin’s Proof of Keys Day Begins With Industry-Wide Support appeared first on Bitcoin News .
Police in the Indian state of Jammu and Kashmir have warned the public against investing in cryptocurrencies
As part of the new Bitcoin Magazine site, we’ve launched a custom block explorer, using Blockstream’s open-source implementation Esplora.What Is a Block Explorer?Bitcoin runs on a distributed network of computers that participate in securing and maintaining a ledger of transactions called a blockchain. A blockchain is made up of blocks that are secured every 10 minutes by computers called miners. For a detailed explanation of Bitcoin mining, see our guide on the subject.A block explorer is an interface for exploring blocks in a blockchain in a detailed way. Bitcoin Magazine’s explorer, like others, provides updated information regarding every block in Bitcoin’s blockchain. Such information contains details including the total number of transactions in a block, as well as the individual outputs for each transaction.The explorer also includes information about the block itself, such as how many blocks have been made before it (block height), the number of confirmations it has, a timestamp of when the block was accepted by the network, and size of the data inside.How Can I Use a Block Explorer?Block explorers are designed to be relatively user-friendly so that anyone can understand what information is being displayed. Using one is as simple as clicking through the most recent blocks and viewing the data inside it.Block explorers are useful because they are a way for anyone to explore any part of Bitcoin’s blockchain at any given moment without having to manually search for a specific transaction. The search bar in a block explorer allows users to search for various data on the blockchain, including block height, hash, transaction ID and address.Why Is a Block Explorer Important?Bitcoin Magazine’s block explorer is a great example of the value of open-source projects. Blockstream’s release of Esplora shows that useful open-source projects provide value to a community. Block explorers are important to Bitcoin because they serve the function of allowing users to navigate through a complex field of information that is unreadable in its raw form. Similar to web browsers, there are myriad versions of block explorers that all serve the same function with different design interfaces.Bitcoin Magazine’s block explorer is one of many new website features rolled out in honor of Bitcoin’s 10 year anniversary. This article originally appeared on Bitcoin Magazine.
Bitcoin was created by Satoshi Nakamoto, (almost certainly) a pseudonym, that no one has been able to conclusively connect to an actual person or group of people to this day. Nakamoto vanished from the internet in 2011, leaving few clues as to who they might be. Over the years, many people have publicly claimed to be Satoshi, all failing to support the statement with indisputable facts.In an early bitcointalk forum, Satoshi said that they started working on Bitcoin in 2007, two years before the first block was mined. The Genesis block, or the first block in the Bitcoin blockchain, was mined on January 3, 2009. Nakamoto was the miner of the Genesis block, receiving the first 50 bitcoins ever put into circulation. This reward from the first block, however, was unspendable due to a quirk in the way the Genesis block is expressed in the code. BitMEX Research has published an analysis on the early mining days of Bitcoin and concluded that “someone” mined 700,000 coins. While many assume this was Satoshi, it officially remains unproven.One can only imagine the fame Satoshi Nakamoto would receive if their identity ever were to come to light, not to mention the immense riches they stand to collect (though Satoshi appears not to have spent any of the coins they supposedly mined). Over time, there have been many instances of people claiming to be Satoshi, and others who’ve had that claim thrust upon them.False ClaimsOne of the most well-known cases of someone claiming to be Satoshi is by Craig S. Wright, an Australian academic. Wright, as early 2015, has tried multiple times to provide a public demonstration with indisputable evidence that he was Bitcoin’s inventor, but he has not been successful to this day. In fact, his “proof” has proven to be fabricated.Dorian Nakamoto, a man in California, was once publicly assigned the title of Bitcoin’s creator by a newspaper journalist who noticed several similarities between the two Nakamotos, most obviously their surname. Very quickly, however, this claim was denied by Dorian and disproved as well.Another class of people who have garnered attention around Satoshi’s unknown identity are cryptographers and computer scientists. Hal Finney, a renowned cryptographer who was the first person to receive bitcoins from Satoshi Nakamoto, is one of the most famous suspects due to his early involvement in the space. For less than a year after Bitcoin was created, Satoshi and Hal Finney exchanged several posts on Bitcoin discussion forums, discussing things like the technology and its future implications. Finney passed away from ALS in 2014, leading some to speculate on the extent of his involvement with the world’s first decentralized currency. Nick Szabo is another renowned cryptographer who created Bit Gold, a digital currency invented several years before Bitcoin. The fact that he does not appear to have been directly involved with Bitcoin’s creation, though his project is so remarkably similar to it, has led some to speculate he might be Bitcoin’s creator as well.Why Satoshi Must Be AnonymousSatoshi Nakamoto, the creator of the world’s first decentralized currency, arguably should remain anonymous because of the nature of their creation. Having created a protocol with no central point of failure, Nakamoto may have realized that maintaining his anonymity may remove the very last central point of failure Bitcoin could possibly have: the person who created it. Removing the single identity that could be associated with the advent of Bitcoin removes any single face that could influence the politics, rules or decision-making of the Bitcoin community.Whoever Satoshi is, they are undeniably a genius of our time. The Bitcoin protocol provides economic incentives in all the right places resulting in an exceptional solution to the Byzantine Generals’ Problem. Satoshi Nakamoto applies concepts from cryptography, mathematics, game theory and economics to create a beautifully designed — and the world’s first — digitally scarce asset called Bitcoin. This article originally appeared on Bitcoin Magazine.
This time last year, altcoiners were jubilant at the soaring value of their respective cryptos, while gloating at BTC’s diminishing dominance. “Penny coins” such as Ripple, Iota, and Verge were rocketing, with fanboys decrying any media outlets that dared to “FUD” them. One year later, and most of those altcoiners have crawled back into the […] The post Last Year’s Altcoin Army Have Become This Year’s Bitcoin Brigade appeared first on Bitcoin News .
In May 2012, the first print copy of Bitcoin Magazine — the original publication devoted exclusively to Bitcoin — made its debut. Founded by Vitalik Buterin and Mihai Alisie, that first edition with its iconic Anonymous mask on the cover has become one of the most sought-after collectibles in the Bitcoin space.Buterin and Alisie later joined forces with Orlando, Florida-based Coin Publishing LLC to produce 22 issues. BTC Media (now BTC Inc) acquired Bitcoin Magazine in 2014 and moved the publication entirely online.Today, on the anniversary of Bitcoin’s genesis block, we are extremely excited to announce that the first print edition of Bitcoin Magazine in 5 years will come off the presses in the summer of 2019.Like the earlier print editions of Bitcoin Magazine, this newest version will be chock-full of informative articles about Bitcoin — but this time, informed by the experience that 10 years of Bitcoin has brought us.Like that very first edition, we’ll look back at the brilliant cypherpunks and early contributors who made Bitcoin possible. Then we’ll chronicle some of the advances that have brought Bitcoin into the present, as well as those that promise to carry it into the future.We’ll be focusing on the builders, the community leaders, the advocates and the evangelists. And we’ll bring many of those voices to the pages of Bitcoin Magazine to tell their own stories and give their insights.There will be many stories of goals set, challenges met, and obstacles still to overcome, as well as reflections on some of the growing pains that this nascent industry has experienced.Back in 2012, Vitalik and Mihai were handing out Bitcoin Magazine from their backpacks to anyone with even a fleeting interest in some mysterious, magic internet money. Today, with 10 years of history behind it, Bitcoin is almost a household name, and more and more people are curious about this “digital gold” that they’ve been hearing about. Our intention is to distribute tens of thousands of copies at hundreds of locations and events around the world.We hope that you’ll look forward to this new print edition of Bitcoin Magazine with as much eager anticipation as we will — and that you help to spread the news right along with us. This article originally appeared on Bitcoin Magazine.
October 31, 2008, and January 3, 2009.The two dates have cemented themselves with Promethean significance into Bitcoin’s lore. On October 31, Satoshi Nakamoto published the Bitcoin white paper, a constitution of sorts for his revolutionary monetary system and its intrinsic currency.On January 3, this constitution came alive with Bitcoin Block #0. Also known as the network’s genesis block, this cornerstone would provide the foundation for an ecosystem that would challenge our perception of how money is valued and managed in a digital age.Ten years later, we celebrate the birth of the Bitcoin network much like we might a nation. If the white paper is a declaration of monetary independence, then the genesis block is our independence day and the founding of a new system. By bootstrapping the network, Satoshi broke ground on a completely novel form of money: decentralized, algorithmically based and completely peer-to-peer digital cash for a digital age.For what the genesis block actually is, there’s little to tell. The first block on the network, it includes a single transaction: the 50 BTC block reward sent to Satoshi for mining it (which, along with his other mining rewards, he still hasn’t touched). It has all the trimmings of a regular block; besides being the first, there’s little distinguishing it from the rest, save the unique data it houses.With the January 3 Launch, Satoshi’s Intentions Are ClearRather than focus on what the genesis block is, today is a day to reflect on what the genesis block represents.The genesis block, by all rights, is emblematic of monetary sovereignty. It’s the digital embodiment of Satoshi’s monetary philosophy, a rejection of the centralized policies of the fiat system in favor of the decentralized processes of a cryptographically secured and mathematically verifiable digital system. Satoshi believed the old mode was failing, so he built a new one without all of the controls and hazards that can lead to the debasement of fiat currencies with reckless printing practices.His intent is covertly coded into the genesis block, though the meaning of this message is clear. Embedded in the hexadecimal code on the genesis block’s coinbase, the message, after being decoded, reads as follows: “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.”The message is a direct allusion to the headline for The Times the day Bitcoin launched. As the article details, Alistair Darling, the U.K.’s Chancellor of the Exchequer at the time, was debating a second bailout for U.K. banks. This capital infusion would come nearly a year after the government flushed the same banks in an attempt to ballast credit flow and stanch impending economic downturn, something the United States did for its own banks in October of 2008.The rest is obviously history.2009 would begin with the climactic unraveling of the global economy. Fractional reserve lending, bad debt and a mortgage crisis would send the world’s economic dominoes toppling after each other in the worst international crisis since the Great Depression some 80 years earlier.That the genesis block was founded on the same day as news of an imminent bank bailout is certainly symbolic. Satoshi’s early writings show that he was well versed in central banking monetary policy and the alleged hazards of a fiat-based economy. He saw the central banking practices that led to the 2008–2009 financial crisis, the conjoined nature of federal governments and national/private banks, as a hazard for both client trust and currency valuation.“The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts,” he writes in a February 2009 forum post.This post came a little over a month after Satoshi bootstrapped the network, but he discussed implications of his creation in relation to modern banking practices before the Bitcoin blockchain went live.On the day he released the white paper, Satoshi sent his work to the Cryptography Mailing List. His work was feverishly engaged by a handful of recipients, including then Google engineer and later Bitcoin developer Mike Hearn.In the thread, interspersed between constructive criticism of Bitcoin’s potential design flaws, recipients compare notes and observations on legacy banking practices. Of course, they also philosophize on how Bitcoin fits into the larger picture, with one commenter, James A. Donald, positing that decentralized issuance could protect the economy from overbearing governments — though he also cautions that the power and influence of these governments should not be dismissed.“If a small number of entities are issuing new coins, this is more resistant to state attack [than] with a single issuer, but the government regularly attacks financial networks, with the financial collapse ensuing from the most recent attack still under way [sic] as I write this.“... in the late nineteenth century political attacks on financial networks began, as for example the Federal reserve act of 1913, the goal always being to wind up the network into a single too big to fail entity, and they have been getting progressively bigger, more serious, and more disastrous, as with the most recent one.”“Too big to fail” became a popular mantra of governments when justifying their decisions to bail out big banks during the credit crisis. The system warranted resuscitation solely because it is monolithic in scale and too intertwined in the socioeconomic political arena to let falter.A Reminder of Why We’re HereThere’s an argument to be made that government interventionism, along with the artificial lowering of interest rates and quantitative easing that the Federal Reserve effected to “revive” the economy, made the crisis worse (Satoshi likely would). And as the longest bull market in U.S. history since the Great Depression is supposedly reaching its end, some analysts have argued that the catalyst for another looming crisis has taken root with the same practices that spurred on the 2008–2009 crash.Again, that Bitcoin’s launch coincides with the worst global financial crisis since the Great Depression is no accident. The currency and its network were born out of the Great Recession and represent the monetary antithesis of the questionable banking practices that incited the crisis.Banks were bailed out on behalf of the governments with which they share a symbiotic relationship. These banks and their bookkeepers were insured with taxpayer money and protected because they are “too big to fail.” Meanwhile, the average citizen languished in an anemic economic climate with no windfall.The symbolic genesis of Satoshi’s new economic system, as well as the hidden message that testifies to his vision, seem to say: “For the rest of us, for the 99 percent, here is our way out — here is our bailout.”So as we celebrate Bitcoin’s 10-year anniversary and the founding of the genesis block, let’s not forget the intent behind Block #0. It’s not just the first block on the network. It’s the beginning of an entirely new monetary system divorced from the central controls and malfeasance of our current system. It’s Satoshi offering us an alternative. It’s the solution to a problem introduced when fiat currencies ousted the gold standard.It’s revolutionary, it’s for the people and it’s the key to our economic freedom.Price is nice, but let’s not forget why we’re here.Happy 10th anniversary! This article originally appeared on Bitcoin Magazine.
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On December 4, 2018, our CEO, David Bailey, made an exciting announcement: Bitcoin Magazine would be returning to its roots and shifting its focus to Bitcoin-related stories only. As the title of his blog post states, we intend to “Make Bitcoin Fun Again.”What does this mean?To begin with, we are delighted to unveil this beautifully redesigned and reimagined Bitcoin Magazine website with some cool new features including original artwork, a block explorer, an expanded guide section, and a general new flow to how you’ll see and interact with the content. We will be adding many more fresh, new elements and improvements in the coming days.Today marks the 10th anniversary of the Bitcoin network’s launch. For Bitcoin Magazine (and our parent company BTC Inc), we saw this anniversary of the birth of Bitcoin as “a fresh chance for each of us to reimagine the narrative of digital value and manifest our response to the question: ‘Why does this technology matter?’”The best way for us to serve the Bitcoin community in its quest for the answer to this question is to return to the genesis of Bitcoin, its community, and our own history.What better time to launch this renewed vision of Bitcoin Magazine than on the anniversary of Bitcoin’s Genesis Block, when Satoshi’s white paper actually graduated from an idea to a reality?What You Can Expect From Bitcoin MagazineBitcoin Magazine is staffed by journalists and editors with a passion for Bitcoin and for telling its stories. We are committed to sifting through the noise and the drama and the FUD to bring you accurate, well-researched news, thought pieces and long-form articles that will keep you informed and engaged.We have formed relationships with some of the most influential thought leaders, as well as some of the most brilliant new minds, in the Bitcoin space who will not only be giving us insightful opinion pieces but also be sharing their expertise and input as we create some of our more research-driven content.As always, we are committed to editorial independence and high standards of journalistic integrity.So, what sorts of stories will a “Bitcoin-focused” Bitcoin Magazine cover?Here are some of the topics that you can still expect to read about in Bitcoin Magazine:general protocol improvements and technological advancements;Bitcoin exchanges and wallets;payment processors and point-of-sale platforms;interoperability projects that unite the Bitcoin blockchain with non-Bitcoin blockchains;price analyses and market influencers;regulation opinions and decisions;blockchain education programs;privacy issues and data breaches;philanthropic endeavors that use bitcoin (or the Bitcoin blockchain);forks of Bitcoin, Bitcoin sidechains or other new projects that are built on the Bitcoin blockchain; layer 2 solutions;stablecoins;and, of course, Bitcoin community events (conferences, hackathons, meetups, etc).This is not to say that BTC Inc is going to stop covering other cryptocurrency and blockchain news. Leading up to today’s official Bitcoin Magazine relaunch, our newly redesigned sister site,, has been in “soft launch” mode, gradually increasing its content to pick up the stories that are no longer part of the Bitcoin Magazine mandate. We hope that you will check it out as well. Between the two sites, BTC Inc has the whole Bitcoin, blockchain and cryptocurrency ecosystem covered!Like the rest of the cryptocurrency space, Bitcoin Magazine is constantly changing and adapting. We are excited to engage with you as we continue to grow and support this world-changing ecosystem. Together, we will continue the march toward economic freedom and sow the seeds of sound money to create a better, more inclusive financial system. This article originally appeared on Bitcoin Magazine.
Date, place, — MinexSystems, a full-service development company specializing in blockchain products, has started shipping the globally accepted cards ordered via MinexPay. Soon, users from all over the world, without limitations, will receive the first batch of cards ordered with MinexPay service, allowing them to spend the crypto on goods and services where usual payment […] The post Press Release: MinexSystems Ships the Crypto Cards with Global Coverage and Cash-Out Starting at 0% appeared first on NullTX.
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