BitCoin Algorithm
Invented by a mystery person/group with the alias “Satoshi Nakamoto”. [You can read a consolidation of the paper here]. The essential elements are:
· Peer to Peer Network with self-validation
· Exponentially increasing compute cost
· Finite supply with exponential conversion
· Hidden in plain… Read More
By now most people who read or listen to the news know something about Bitcoin (BTC). Most people have the perception that it is either the currency of crime or speculation. Put aside the perceptions and consider this. When is the last time you saw someone write a check in the grocery store, especially someone under 60? Today’s… Read More
You may know a bit about Bitcoin, the digital currency. One part of the system is “mining” new bitcoins, analogous to mining new gold when we were on the gold standard, creating “money” out of thin air but at a cost of doing the actual mining.
Here is an interesting aside. When I lived in France the father of… Read More
One of the hottest areas for Application Specific Integrated Circuits today is Bitcoin mining. A good friend of mine has a son who is involved in a Bitcoin start-up so we have been discussing this at great length and I will share what I have learned thus far. Coincidently, my wife asked me about Bitcoin during our most recent walk down… Read More
