MIT Media Lab Announces Launch of MIT Digital Currency Initiative, Headed by Former White House Senior Adviser

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A few days ago Bitcoin Magazine reported that Joi Ito, director of the prestigiousMassachusetts Institute of Technology (MIT) Media Lab, was about to unveil a plan for the institute to become what he called an independent, neutral home to help with Bitcoin standards development. “I think within a couple of weeks we’ll be announcing something which will be a little bit more substantive,” said Ito. “And I’m not pushing it, but I’m offering MIT as a neutral academic home for some of the conversations and the technical coordination.” MIT has now formally announced the launch of a Digital Currency Initiative, to be directed by former White House senior adviser for mobile and data innovation Brian Forde, who joined the MIT Media Lab as director of digital currency. Forde will work with researchers across the institute and leading experts at other universities around the world to address some of the most critical challenges to creating a safe, stable and secure digital currency. “As a technologist, there’s no more exciting place to work than the MIT Media Lab,” said Forde. “The innovations that come out of the Media Lab have made a truly global impact. I look forward to working with the …

Bitcoin in the Headlines: Child Porn and Price Disregard

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Whils last week’s reporting was heavily US-focused, the coverage this week was more far reaching, with outlets from India and Russia mentioning bitcoin – even if in a negative light. Indeed the biggest lightning rod of interest this week was perhaps bitcoin’s alleged propensity for enabling illicit activities, with the use of the payment method in online child pornography transactions capturing the lion’s share of the media’s headlines. Interestingly this focus, however, did deflect from other negative coverage. For example, bitcoin’s relative price drop – usually a hot topic among the mainstream press – went mostly unnoticed. Child porn for bitcoin Allegations that paedophiles are now buying sexually abusive imagery on the web first surfaced this week following the release of the Internet Watch Foundation’s annual report. Unsurprisingly, it did not take long for the media to seize the opportunity to report on the link between the disruptive digital currency and the horrendous activities carried out by some alleged bitcoin users. A Google news search with the terms “paedophiles and bitcoin” brought up more than 80 results, significantly less than previous stories highlighted in this series, but still this week’s most widely covered topic. In his Guardian piece “Paedophiles sell child abuse images …

The Naturalness of Bitcoin: Genetic Code Analogy

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A friend of mine asked me some time ago, “Why do you need to understand it [the blockchain] so badly?” He is a software developer, and I have a background in humanities; so it’s always been interesting to me to understand the ‘technician’s way of reasoning’. This time, I was bugging him with some blockchain-related aspects, such as the genesis block and the coinbase transaction (the first transaction in a new block). I was trying to understand where the input in the block’s original transaction was — I believed the principle should be ‘nothing comes from nowhere or goes nowhere’. My friend said that there was no universal meaning, and that the technology behind Bitcoin is the way it is just because its creator wanted it like this. Coinbase transaction is really a transaction with no input — just because it’s a part of design. The models That friend of mine thought I was some kind of a fanatic who believes in a greater purpose of something without even understanding it properly. The last part is true — I’m just learning — it’s also true that I don’t see the Bitcoin as a universal solution, or blockchain as a universal …

Buying SEO Services For E-Money

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“It is not wrong to think that the traditional buying of a product has been replaced with an unwritten contract of shared values between a business and its customers.” David Amerland, author, speaker, analyst (Google Search Engine)    IT-jobs are among the most popular offered for bitcoins and the other crypto. No surprise, the market is growing dynamically and the web-services are needed more than ever. Some time ago SEO companies were reluctant to introducing digital currencies as an alternative payment method. Luckily, the situation is changing in favour of customers using crypto. There are certain advantages in applying cryptocurrencies for both the SEO companies and their clients: first and foremost the higher demand, higher competitiveness, lower transaction fees and the ability to foresee the trends in the market. In fact, many SEO services and their clients are strong virtual currency enthusiasts, and apart from getting their main job done promote virtual currency exchanges on a regular basis. Let’s see who’s willing to improve your SEO for bitcoin and the like: SEObitcoin.com seobitcoin.com is an official SEO Bitcoin vendor, who can provide you with a SEO analysis, help to optimize search engine and other digital services with a package of …

Spare Change-to-Bitcoin Service Lawnmower Aims for Main Street Investor Appeal

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“There’s a metaphor to it,” CEO Pieter Gorsira explains, addressing his startup Lawnmower, and its, by bitcoin industry standards, unconventional name. If the name Lawnmower at first keeps users at a distance, however, the explanation does much to illuminate the novel concept the Boost VC startup is hoping will help it become a low-risk bitcoin investment solution. “Working backwards, it’s like we’re running the lawnmower over the grass and we’re clipping off a little bit of change. So, as you go along, we slice all these little blades of grass and collect change from these transactions,” Gorsira continued. Put more directly, Lawnmower uses an API developed by Spark Capital-backed Plaid to connect to users’ online banking accounts at Bank of America, Chase, Wells Fargo, Citibank and US Bank. From there, Lawnmower watches its users’ accounts for transactions, rounding up the purchase of say a $3.50 latte to $4 and saving that 50 cents for later. Once users have accumulated at least $4 in total savings through small debit or credit purchases, Lawnmower purchases bitcoin on behalf of the user. The effect, according to Gorsira, is a solution to bitcoin’s volatility that also allows investors a chance to get exposed to its potential …

The Age of Cryptocurrency’ is Perfect Introduction to Bitcoin and the Blockchain

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‘The Age of Cryptocurrency’ is Perfect Introduction to Bitcoin and the Blockchain by ME on March 13, 2015 Commentary by Jacob Donnelly. At least twice a week, I get asked about Bitcoin. More people in my network realize I write about it, so they naturally want to know what it is, how it works and whether it’s a Ponzi scheme. I quickly realized that I had rehearsed the perfect answer to every question. At least, I thought it was the perfect answer to every question. Then I read The Age of Cryptocurrency: How Bitcoin and Digital Money Are Challenging the Global Economic Order by Paul Vigna and Michael J. Casey. The two are Wall Street Journal writers, and this is their attempt at explaining the history of digital currency, the inception of Bitcoin, its evolution and future. “Our hope was simply to tell a good story well, to write something that could stand for years as a definitive document. I think we’ve done that,” said Vigna in an email to Bitcoin Magazine.  This book should be required reading for anyone who has an interest in digital currency or the capabilities of the blockchain. The book opens with an implemented use case …