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How can I contribute content to Khan Academy?
Hello, I'm William Entriken and I am involved in the Ethereum community and other blockchain projects. My experience in this space is teaching (usually with a live audience) through workshops and classes about how blockchain and tokens work. This includes everything EXCEPT cryptocurrencies/money/Bitcoin. I usually work with absolute beginners and can teach at a high level or more hands-on for people that want to try programming something. Additionally, I am involved in many open source projects related to blockchain and I regularly take questions on Stack Exchange on the topic. I am the lead author of the non-fungible token standard, and I review most other standards related to Ethereum. I do support open/free learning and I do understand that it takes experts to make good video. With my experience and Khan Academy's team, we can make very high-quality content, ensure it is timeless, and I can take questions as they come. I assume there's lots of people that want to help. And there is no FAQ for people that want to contribute content. So how can I get nominated to work on a video with the team?
Nuvmining | What Is Bitcoin, How Is It Various Than "Real" Cash and also How Can I Get Some?
Bitcoin is a digital money. It does not exist in the kind of physical type that the currency & coin we're used to exist in. It does not even exist in a type as physical as Syndicate cash. It's electrons - not molecules. nuv mining Yet consider just how much cash you directly handle. You obtain an income that you require to the bank - or it's autodeposited without you even seeing the paper that it's not printed on. You after that utilize a debit card (or a checkbook, if you're old school) to access those funds. At finest, you see 10% of it in a money form in your pocket or in your pocketbook. So, it turns out that 90% of the funds that you take care of are online - electrons in a spreadsheet or data source. nuvmining However delay - those are UNITED STATE funds (or those of whatever nation you come from), safe in the financial institution and also ensured by the complete belief of the FDIC approximately about $250K per account, right? Well, not exactly. Your banks might just called for to maintain 10% of its deposits on down payment. In some cases, it's much less. It offers the rest of your cash bent on other individuals for approximately thirty years. It charges them for the funding, and also costs you for the advantage of letting them offer it out. Just how does money obtain developed? Your financial institution reaches produce money by offering it out. State you deposit $1,000 with your bank. They then lend out $900 of it. Unexpectedly you have $1000 as well as another person has $900. Magically, there's $1900 floating around where prior to there was only a grand. Currently claim your bank instead offers 900 of your dollars to another financial institution. That financial institution in turn lends $810 to an additional financial institution, which after that offers $720 to a client. Poof! $3,430 in an immediate - virtually $2500 produced out of nothing - as long as the bank follows your federal government's central bank rules. Production of Bitcoin is as different from bank funds' creation as cash money is from electrons. It is not managed by a government's reserve bank, but rather by consensus of its customers as well as nodes. It is not developed by a restricted mint in a structure, however rather by dispersed open source software program and computer. As well as it needs a type of real work for production. Extra on that particular shortly. Who created BitCoin? The very first BitCoins remained in a block of 50 (the "Genesis Block") created by Satoshi Nakomoto in January 2009. It really did not really have any type of worth initially. It was simply a cryptographer's toy based on a paper published two months earlier by Nakomoto. Nakotmoto is an evidently imaginary name - nobody appears to know that she or he or they is/are. That monitors everything? Once the Genesis Block was developed, BitCoins have actually because been produced by doing the work of keeping track of all deals for all BitCoins as a kind of public journal. The nodes/ computers doing the computations on the journal are awarded for doing so. For each collection of effective calculations, the node is rewarded with a specific quantity of BitCoin (" BTC"), which are after that freshly produced right into the BitCoin community. For this reason the term, "BitCoin Miner" - because the procedure develops new BTC. As the supply of BTC increases, and also as the number of transactions boosts, the job essential to update the public ledger gets harder and also much more complicated. As a result, the variety of new BTC right into the system is created to be concerning 50 BTC (one block) every 10 minutes, worldwide. Although the computer power for mining BitCoin (as well as for upgrading the public ledger) is currently boosting exponentially, so is the intricacy of the mathematics problem (which, incidentally, additionally needs a certain amount of thinking), or "evidence" needed to mine BitCoin as well as to settle the transactional publications at any type of provided moment. So the system still only generates one 50 BTC block every 10 minutes, or 2106 blocks every 2 weeks. So, in a sense, everyone tracks it - that is, all the nodes in the network keep track of the background of every single BitCoin. Just how much is there and also where is it? There is a maximum variety of BitCoin that can ever before be produced, and that number is 21 million. According to the Khan Academy, the number is anticipated to peak around the year 2140. Since, today there were 12.1 million BTC in flow Your very own BitCoin are kept in a documents (your BitCoin purse) in your very own storage space - your computer system. The data itself is evidence of the number of BTC you have, and also it can move with you on a mobile phone. If that data with the cryptographic key in your wallet obtains lost, so does your supply of BitCoin funds. And also you can't obtain it back. Just how much is it worth? The value differs based on just how much people believe it deserves - similar to in the exchange of "real cash." Yet due to the fact that there is no central authority trying to maintain the value around a certain level, it can vary a lot more dynamically. The very first BTC were generally worth absolutely nothing at the time, however those BTC still exist. Since 11AM on December 11, 2013, the general public value was $906.00 United States per BitCoin. When I completed composing this sentence, it was $900.00. Around the start of 2013, the value was around $20.00 United States. On November 27, 2013 it was valued at greater than $1,000.00 United States per BTC. So it's kind of unstable presently, yet it's expected to calm down. The complete value of all BitCoin - since the period at the end of this sentence - is around 11 billion US bucks. How can I get me some? First, you have to have a BitCoin purse. This post has links to get one. Then one method is to purchase some from one more private party, like these individuals on Bloomberg TV. One method is to purchase some on an exchange, like Mt. Gox. As well as finally, one means is to dedicate a lot of computer power as well as power to the process as well as become a BitCoin miner. That's well outside the extent of this post. However if you have a couple of thousand extra dollars lying around, you can obtain rather a gear. Exactly how can I spend it? There are numerous vendors of all sizes that take BitCoin in payment, from cafes to auto dealers. There's also a BitCoin ATM in Vancouver, British Columbia for transforming your BTC to cash in Vancouver, BC. And so? Money has had a lengthy background - centuries in size. Somewhat recent tale tells us that Manhattan Island was bought for wampum - seashells & the like. In the very early years of the United States, different financial institutions printed their own money. On a recent visit to Salt Spring Island in British Columbia, I invested currency that was just good on the beautiful island. The common style among these was a trust agreement amongst its customers that specific currency held value. In some cases that worth was tied directly to something strong and physical, like gold. In 1900 the U.S. connected its currency straight to gold (the "Gold Requirement") and in 1971, ended that tie. Currently money is traded like any kind of various other commodity, although a certain nation's currency worth can be propped up or decreased through activities of their reserve bank. BitCoin is an alternative money that is also traded as well as its value, like that of various other products, is figured out via trade, yet is not stood up or lessened by the action of any kind of bank, however rather straight by the activities of its individuals. Its supply is minimal as well as known nevertheless, and also (unlike physical money) so is the history of each and every single BitCoin. Its viewed worth, like all various other money, is based on its utility and also count on. As a form of currency, BitCoin not specifically a new thing in Production, however it absolutely is a new means for cash to be created.
Hi Bitcoiners! I’m back with the 23rd monthly Bitcoin news recap. For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month. You can see recaps of the previous months on Bitcoinsnippets.com A recap of Bitcoin in November 2018 Adoption
Why I believe we're on the cusp of the 3rd great Bitcoin bubble
We've recovered from the last crash You might think it's a bit early (based on the time frame for the last recovery), but things are looking a lot different than in 2011. I would suggest its because the last bubble popped prematurely due to Mt. Gox's failure of a trading engine. Interest in buying Bitcoins has gone up to its highest point since the last bubble. There's a similar spike in general interest. Partly helped along by the Silk Road news. The network is being used at the same rate as during the last bubble. The Bitcoin ATM story (see below) is causing Bitcoin to trend in Canada on Google (was #1 for a bit). The $27 story (see below) will almost certainly cause a large spike worldwide in Google trends once they're updated up to yesterday. Lots and lots of new businesses now accept Bitcoins One legitimate criticism of Bitcoin last year was the lack of places to spend them. We basically just had Alpaca Socks, Reddit and Wordpress, we've grown a lot since then!
The $27 story is going massively viral I think the attention this story is getting took a lot of us by surprise. We're thinking "of course if you bought Bitcoins in 2009 you're rich" and it didn't make much of a splash. But to the rest of the world it's a very novel and interesting story.
Institutional money is coming Afraid with the price at $200 that it will be hard to find enough moms and pops to keep money coming in faster than miners are selling? Don't be, there are individuals out there with a net worth higher than the entire Bitcoin ecosystem.
Governments are explicitly saying it's not illegal More and more governments are either saying Bitcoins are legitimate currency, or releasing guidelines for exchanges to comply with anti-money-laundering laws.
New generation of exchanges Mt. Gox's terrible trading engine was a huge factor in the last crash. They couldn't keep up with all the new interest. This time around there are more exchanges in more countries, and not a single point of liquidity.
Maybe you're here because you've received a tip on social media, or maybe you've just been hearing a lot recently about Bitcoin and are wondering what the big deal is? The following videos are a good starting point for understanding how bitcoin works and a little bit about its long term potential:
Bitcoins are valued at what market price people are willing to pay for them. Here are a couple useful sites 1 and 2 that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just google "1 bitcoin in (your local currency)". You can buy or sell any amount of bitcoin (from as little as $1 worth) and there are several easy methods to purchase bitcoin with cash, credit card or bank account. Some recommendations include: US & Europe
Always do your own personal due diligence on the validity of an exchange and check the URL prior to sending them money or entering login credentials. Phishing sites are not uncommon. Use this checklist if you aren't sure which exchange to choose.
Where can I spend Bitcoins?
A comprehensive list can be found at TheBitcoinPage.com but some of the key ones are below:
Coinmap and AirBitz are helpful to find local businesses accepting bitcoins. UK residents can find a comprehensive directory of shops, pubs, websites and other places in the UK that accept bitcoins at wheretospendbitcoins.co.uk. There are also lots of charities which accept bitcoin donations, such as Wikipedia, Red Cross and the RNLI. You can find a longer list here.
If you operate a business and want to accept bitcoin as a payment method, there are several options available:
Mining bitcoins can be a fun hobby but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The friendly folks at /BitcoinMining would be happy to help you out. If you want to contribute to the bitcoin network, you can run a full node by hosting the blockchain and propagating transactions. Here is a handy setup guide
Securing your bitcoins
With bitcoin you can be your own bank and personally secure your bitcoins or you can use trusted companies such as Coinbase and Circle which have secured wallets where they hold the bitcoins for you and provide insurance. Be sure to only deal with reputable companies, if you have any concerns about a company's trustworthiness just ask or check their consumer reviews and ratings. If you prefer to have direct control over your coins without having to use a trusted third party you can use personal wallets for desktops / laptops, Android and iOS where you alone hold your private keys. Electrum, Mycelium and Breadwallet are popular, but there are many options. Find a wallet that works best for you For increased security use Two Factor Authentication (2FA) everywhere it is offered, including email! (2FA requires a second confirmation code to access your account, usually from a text message or app, making it much harder for thieves to gain access). Google Authenticator and Authy are two great apps for handling 2FA.
Additional security systems such as Mycelium Entropy (for printing multi-signature paper wallets) and the Trezor Hardware Wallet are great ways to easily secure your coins. Or, you can opt to secure your bitcoin using cold storage. Note: Do not use brainwallets unless you are an expert, they are known to be vulnerable to theft unless set up correctly.
Just like any other form of money, you can earn bitcoins by working for them. Here are a few resources for bitcoin jobs.
Use ChangeTip.com (/changetip) for tipping people on Reddit, Twitter, YouTube, Tumblr, GitHub and more! (you can even use custom monikers to tailor your tip to the discussion or add a bit of humor).
You can read more about ChangeTip at their reddit wiki.
Go to /FreeBits to get a few microbits to practice with and then tip them forward. Go to /BitTippers to play games and solve riddles to earn your bits. Don't forget your flair!
Note: This is a brief overview to the most commonly used Bitcoin units. For full information check out the Bitcoin Units wiki (work in progress). One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common ones are listed below:
1,000 per bitcoin
SI unit for milli i.e. millilitre (ml) or millimeter (mm)
1,000,000 per bitcoin
SI unit for micro i.e microlitre (μl) or micrometre (μm)
100,000,000 per bitcoin
Smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $500 for one Bitcoin, a $10 meal would equal:
20,000 μBTC (colloquially referred to as bits)
Still have questions? The friendly folks at /BitcoinBeginners would be happy to help you out. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit. Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending mod approval. The original sticky can still be found here. Welcome to the Bitcoin community and the new decentralized economy!
How does CryptoCurrency hold the two parties of a transaction accountable?
Late on the train, but I've recently had some exposure to CC and am fascinated. Watching the Khan Academy videos on Bitcoin to get some context, and one thing I'm confused about it is the lack of accountability. Say Alice pays 10 BTC to Bob for a product. Bob gets the BTC, but fails to deliver on the product. In a centralized system, someone would be able to identify Bob and force him to deliver, or face consequences. I read this comment that half explained it:
Solving crimes, making up for loss or destruction, and making moral or value judgments aren't within the scope of Bitcoin. Same as cash: a dollar bill doesn't automatically fling itself back into the hands of the good guy. Bitcoin makes it easy to transfer value. That's it. You're saying there's "no centralized authority." But there is: the courts. Depending on which country you live in, if Person A and Person B to exchange Thing C for Thing D, and Person B fails to deliver Thing D after receiving Thing C, then that's probably a breach of contract, and Person A can sue Person B. It doesn't really matter whether Thing C is cash, services, a truck, bitcoin, or an orange.
But it still doesn't answer this - one of the main advantages of CC is the privacy. Essentially everyone is using pseudonyms of sequences of numbers to make transactions. However, if Bob didn't deliver, now we have no idea who Bob is "irl" and so cannot make him responsible to deliver, or even face the courts. Obviously this isn't such a huge issue as BTC, ETH, alts, etc are becoming so popular - but why isn't it a huge issue? Can someone explain?
An article that I wrote which will be published in a newsletter to about 50k people What is Bitcoin? Wall Street Journal has being blogging about it, Dell.com started to accept it, and you probably have heard that it was hacked but somehow it is still around. Bitcoin is the first ever crypto-currency. Most of the attention from the media has being focused on Bitcoin’s price, and the fact that it allows for money laundering and drug trafficking. For the start-ups such as Xapo and CIRCLE, who have raised $20 M and $17 M respectively, and the VCs, who have invested a total of $154M in cryptocurrency start-ups as of first-half of 2014, they see something more than the price. Simply put, they see it as a technology that has the potential to disrupt finance. The questions that I get the most often are: • Who “owns” Bitcoin? • How are they created? • Is Bitcoin money? • How is this relevant to Actuaries? Bitcoin has put the way finance work on its head and completely changed the way digital assets can be used, stored and traded. I will attempt to explain exactly how this is accomplished and provide some resources for those who are willing to dig deeper. Who owns, creates and secures bitcoins? Bitcoin started as an experiment by Satoshi Nakamoto. The goal for the experiment was to decentralize trust when you send and receive money. Bitcoin itself is an open-source project. It means that no one owns it. To join the network, everyone needs to have a compatible version of the software. Anyone can contribute to Bitcoin’s source code. As of now, there are a few core developers pushing for changes and updates within the software. Bitcoins are created in a way that is intimately linked to how Bitcoin transactions are secured. The genius of Bitcoin is the fact that it allows for consensus throughout the network to emerge by a process called proof-of-work. The proof-of-work solves an important problem in computer science that originated half a century ago. There were previous attempt at solving the Byzantine Generals’ problem but none really succeeded until now. People reach consensus and guarantee the legitimacy of financial records through a central entity. Be it bank, Paypal or a credit card processor, they all hold a central ledger that they are responsible for. When a payment is made either online or in stores, they take care of making updates to their central ledger. Crypto-currencies do it in a completely different way. There are no central ledgers. Instead, “everybody who runs the (full) software has their own copy of the ledger.” This means no one has the power to cut off another connection, confiscate their assets, or charge them an unfair fee. The magic of Bitcoin was a way to incentivise people to maintain these ledgers in an honest way by paying those doing the work with bitcoins (mining). How this exactly works takes a while to grasp but the end-result is a cryptographic based system that incents everyone who is in the network, to secure the network. Is Bitcoin money? Legally, Bitcoin has being classified as property in the United States. The Canadian government just tabled a bill to regulate virtual currencies. Germany has recognized Bitcoin as private money. China has banned its financial institutions from Bitcoin transactions. Needless to say, regulator and politicians are starting to pay attention to this technology and figuring out how to protect their citizens and country. (Here is a list of Bitcoin’s legal status around the world.) Socially things are a bit different. Sea shells, Rai stones, precious metals, and even Tide are used as a medium of exchange. It is “money” as long as one can spend it (there are thousands of online and offline locations to spend bitcoins). Currently, it is very confusing for the average user to acquire, store, and spend bitcoins. It needs to reach a point where everything is easy; someone needs to do with Bitcoin what Apple did with personal computers. Company such as Coinbase, Bitpay, CIRCLE and Blockchain are at the forefront of this effort, building a one-click solution for merchants and customers. Why is this important to the insurance industry Blockchain technology makes Bitcoin possible. While Bitcoin is the first application of this technology, there are already companies and start-ups that focus on other innovative applications. This technology allows a way to transact without a trusted third party. It does not have to stop at currency. It could be a parking ticket issued over the internet, or a digital “pink slip” as proof of ownership. Bitcoin 2.0 platforms are being built to fulfill promises of decentralising exchanges, prediction markets, cloud storage and name registry. One of such platform is called Etheruem. The hope is to create a platform on which anyone could write smart-contracts. Ultimately the developers are looking to build DAOs, or decentralised autonomous organization. What about decentralized insurance? This might still be far down the road, but one thing is for sure, technology is breaking up the traditional value chain. With technological advancements, we will see more policies being sold online which are managed by independent brokers, claim adjusters, underwriters and actuaries. With the help of decentralised applications, anyone would be able to write a smart insurance policy, find a third party that is willing to hold the risk, and automatically treat for premiums, payouts, lapses and expiry. Until Bitcoin, paper money is the most recent innovation on money. What we have here is a quantum leap towards what money and digital assets can be in the 21st century.Imagine a decentralised and secure database that every insurer and reinsurer has the access to instead of segregated database costing millions to reconcile and audit. Data and events are updated on the go with calculations of reserves and premiums done in real-time. There is a reason why so many bright minds are attracted to Bitcoin and its underlying technology. As it is said in Bitcoinland: to the moon! For those who are curious, Khan Academy has a series of videos that explains mining in more details.
This is a continuation of Part 1. PSEUDONYMITY Unlike credit card transactions, in which you give your name, Bitcoin transactions are pseudonymous (a pseudonym being an identifier other than your real name). Instead of having your name on your account, you have a public key, which is just a sequence of letters and numbers, like the one below. 3J98t1WpEZ73CNmQviecrnyiWrnqRhWNLy That's your pseudonym. People who are concerned with privacy view this as an advantage, since it enables you to make payments without revealing your identity. Critics worry that this system facilitates crime, and proponents counter that cash is much better for criminals. Why? Your account may be represented by some random sequence, instead of your name, but all Bitcoin transactions that have ever occurred are available for scrutiny on a public ledger called the blockchain. This data opens up the possibility of investigative methods to which cash is not susceptible. Also, those who are concerned about criminals may be missing the point. It's sort of like censors in the mid-twentieth century who hadn't conceived of the World Wide Web (preventing kids from being exposed to profanity these days is a bit more difficult, to say the least). The thing they're missing is that Bitcoin is only one of many cryptocurrencies, and others (such as zerocoin) are being developed that will provide much greater privacy. File sharing on the internet is another example of how those seeking to overregulate Bitcoin might be missing the point. Early on, we had Napster, which was shut down due to concerns over copyright infringement. The effect of this shutdown appears to have been essentially the opposite of the intended effect. Instead of stopping illegal file sharing, it accelerated the development of file-sharing technologies that were even more difficult to stop. Since demand still existed, Kazaa came to the fore, and now we have BitTorrent. It's "hard to put the genie back in the bottle," as Ben Lawsky, New York's Superintendent of Financial Services, has pointed out. When it comes to reducing crime, overregulation of Bitcoin could lead to an increased resistance to law-enforcement efforts, as we saw with file-sharing, while at the same time taking away from its many benefits. THREATS TO BITCOIN'S SUCCESS When evaluating Bitcoin's chances for success or trying to understand price fluctuations, it's important to keep several key issues in mind. ADOPTION Both merchant and consumer adoption are important, and both have been growing. On the merchant side, we now have large reputable companies accepting Bitcoin, such as Overstock.com, Expedia, and Dish Network. See, for example, the list of companies working with Coinbase. On the consumer side, one way to track growth is to look at the number of bitcoin wallets (wallets are to Bitcoin what accounts are to the traditional banking system). This number has also been growing steadily. The website http://www.bitcoinpulse.com/ is one place to track such things. Another interesting thing to watch will be the MIT Bitcoin Giveaway, in which $100 in bitcoins will be given to every MIT undergraduate in the fall 2014 semester. ROBUSTNESS OF THE TECHNOLOGY One possible threat is that some kind of bug or design flaw will cause the system to crash. The technology has been around since 2009, and Bitcoin has been resilient so far. For example, it survived a distributed denial of service attack early this year. There are a number of design issues to consider, such as scalability, mining centralization, and so forth, but there are a lot of people working on these issues. In fact, Bitcoin is considered by some to be supported by the largest research and development community in the world. Something like 10,000 of the smartest people in the world are working on issues such as scalability and user-friendliness. COMPETING TECHNOLOGIES There is a chance that another technology that is superior to Bitcoin will emerge to kill it. At present, however, Bitcoin is the clear leader among cryptocurrencies, and it becomes more difficult to overtake as time passes, due to the network effect. Already, Bitcoin is supported by a massive amount of infrastructure, in the form of mining equipment, exchanges, startup companies backed by venture capitalists like Andreessen Horowitz, software applications, and so forth. REGULATION There is some chance that governments could slow the growth of the Bitcoin economy, for example by issuing regulations that make it difficult for exchanges to operate. Regulations in China led to a sharp decrease in the price for a time. Many governments have reacted more favorably. In the U.S., the regulatory outlook has been improving. We've seen increased clarity from the IRS and are expecting favorable regulations to come out of New York sometime this month, which may make it easier for exchanges to get established in New York. This could lead to more liquidity and would reduce the risk of shock from one exchange going down. Moreover, the U.S. just sold about 18 million dollars' worth of seized bitcoins in an auction, which provides additional legitimacy to the currency. A FINAL NOTE: SOCIAL AND POLITICAL RAMIFICATIONS For better or worse, one thing large-scale technologies seem to have in common is their unpredictability. Who would have predicted that a social media platform called Twitter with a cute little bird logo would end up facilitating political revolutions throughout the Arab world? FURTHER RESOURCES This article by Marc Andreessen gives a good overview. A nice way to get started is also to just check out bitcoin regularly. The users here range from noobs to developers and Bitcoin entrepreneurs. So, you’ll see more technical talk and in depth discussion than you see in typical media stories, and you can ask if you don’t understand. You can also try the Bitcoin 101 Blackboard Series, which I hear is quite good. For a quick video on the technical aspects of Bitcoin, you can try the video Bitcoin Under the Hood or the shorter, less technical version of this video. For another explanation of the technical underpinnings, you might try the Khan Academy videos. If you're looking to purchase your first bitcoin, then depending on where in the world you live, you might consider getting started with Coinbase. It's reputable and very easy to use. Many people will advise you not to store your coins on a web wallet, but buying a few coins (or a fraction of a coin) on Coinbase is a good way to start as a beginner. Please be aware, though, that this is a new industry and purchasing Bitcoin in any form carries risk, so do your research. I wouldn't want to be the one recommending Coinbase just before someone manages to hack it! I hope that helps! Edit: formatting and typos; added quote from Ben Lawsky.
4/10/14 Video News - China & BTC, Bitcoin Tax Solutions, Libra & BitInvest Coincards
http://www.moneyandtech.com/apr10-news-update/ Here are your top news stories today in Money & Tech: Bitcoin prices plunged again today, this time as much as 10%, as more Chinese banks confirmed rumors and sent out official deposit shutdown notices to bitcoin businesses, including exchanges BTCTrade, BTC100.org and Huobi. The People’s Bank of China, however, continues to offer no official statement. And BTC China CEO Bobby Lee confirms that they still haven’t received any official word, maintaining their promise to operate in full until they do. Lee reiterates that this is not the end, but rather “a cooling off period,” and that they “are still very excited.” April 15th is also a big day for the US. Tyson Cross of Bitcoin Tax Solutions is partnering with BitcoinTaxes, to create the first specialized preparation service for cryptocurrency users and help them navigate the recent IRS tax ruling. The new service will automatically monitor purchases and mining income through the blockchain, then calculate short-term and long-term capital gains, and prepare your tax files, all while offering expert tax advice and planning throughout the process. Bitcoin startup Libra is also building a user-friendly tax solution, which can automatically track your transaction history and calculate your capital gains in accordance with the new IRS regulations. Libra won’t be ready to launch until the third quarter, but founder and CEO Jake Benson promises it will at least be ready quote “in time for the extended tax deadline, so we advise everyone to file for an extension this year.” Brazil digital currency exchange BitInvest is introducing a new pre-paid MasterCard called the Coincard which actually holds bitcoins, and can be used at any location that accepts MasterCard. This launch date hasn’t been announced yet, but will be timed nicely with the upcoming World Cup, allowing visitors coming into the country for the games to buy things during their stay without the hassle of exchange rates. Netsolus announced at Inside Bitcoins NY this week that it has begun creating a custom data center for industrial mining customers, which will “be bringing close to 20 megawatts online.” 1 megawatt alone would be enough to power 1,000 homes. The hosting and data center provider already earns 75% of its profits from bitcoin customers, and offers a total of about 3 megawatts of power capacity across its existing five data centers and various custom bitcoin mining sites. Law and Business school professors at NYU are designing a new course for this coming Fall term called “The Law and Business of Bitcoin and Other Cryptocurrencies” which would join similar programs such as Khan Academy’s online course “Bitcoin: What is it?” and in Cyprus, the University of Nicosia’s digital currency master’s program. This year, annual tech startup award show The Europas is adding a brand new category for the “Best Virtual Currency Startup”. The event’s founder, Mike Butcher, who is also TechCrunch’s “Editor At Large,” is very confident about this new category, saying “you’d have to live under a rock not to realise that digital currency is potentially one of the biggest tech trends in the last 20 years.” In our effort to bring you regulatory updates and insights this week, we interviewed CoinApex CEO and co-founder Alex Waters about his newest startup CoinValidation. Find that video here shortly.
Voiceover: Bitcoin is a new virtual currency system that's been gathering a lot of attention recently, and I thought I would do a series of videos where I really dive into the innards of bitcoin and explain how it works in detail, and my plan for this first video in this series is to describe some of those mechanics at a high level. Khan Academy the free learning website has taken notice of Bitcoin and released an excellent video. Bitcoin seems daunting on the surface to many non-IT people. The word cryptography or encryption is enough for most people to zone it. In its typical fashion Khan Academy has released a detailed but approachable video for Bitcoin Learning ... And at Mt. Gox you could exchange a bitcoin for a euro or yen or dollar and so on and so forth. Now the current price of a bitcoin, the current value of a bitcoin in US dollars as of this video, is approximately US$100. per bitcoin. That number is fluctuating. This is a new currency, and there's going to be some fluctuation. But as people understand the currency better, the hope is that that ... Khan Academy is a nonprofit with the mission of providing a free, world-class education for anyone, anywhere. Khan Academy accepts donations in bitcoins. Reviews. Write a review. Nate - November 16, 2016 ★ ★ ★ ★ ★ Great site for educational purposes. I chose to study the Journey into information theory under computer science. The material is arranged orderly and the videos are ... A bitcoin supporter told us: “It seemed only right that I should donate some BTC to Khan Academy for their excellent bitcoin tutorial videos. All I had to do was scan a QR code on the screen to ...
Getting started with Bitcoin - Introduction to make money with bitcoin - part 1
Khan Academy is a 501(c)(3) nonprofit organization with the mission of providing a free, world-class education for anyone, anywhere. Our interactive practice... An introduction to the mechanics of bitcoins and an overview of how transactions take place. Created by Zulfikar Ramzan. Watch the next lesson: https://www.k... Bitcoin Remi Vee; 67 videos ; 15 views; Last updated on Feb 20, 2020; Play all Share. Loading... Save. Sign in to YouTube. Sign in. Bitcoin Technical Analysis & Psychology 11th Janaury 2014 by ... Overview of quantitative easing. Created by Sal Khan. Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/core-finance/money-and-bank... Subscribe to Khan Academy’s Finance and Capital Markets channel: ... Floating Exchange Effect on China - Duration: 3:26. Khan Academy 28,988 views. 3:26. The Truth about Hydrogen - Duration: 14 ...