bitcoin

THE FALL OF A VIRTUAL COMPANY – THE DAO, PART 2

23. 11. 2016.

The DAO’s owners were massively shocked on 17 June. An unknown hacker found a loophole in the smart contract regulating the decentralized company and exploited it to steal 3.6 million ether.

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THE RISE OF A VIRTUAL COMPANY – THE DAO, PART 1

22. 11. 2016.

One of the most interesting innovations of the past years has been the creation of the “world computer”, the Ethereum, which enables the signing of smart contracts. By further developing bitcoin’s technology, it creates a virtual interface on which participants who want to do business with each other can enter into contracts. The contracts are then implemented automatically; there are no options for subsequent tricks or manipulation.

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Virtual Oil – Ethereum Part 3

06. 05. 2016.

One and a half years ago, Superblog readers were presented with an investment opportunity that is worth 25 times more today in dollar terms. What is ether? What is the source of its value? How is it better and different than bitcoin? How did we get here and what can we expect for the future? These are the questions I am attempting to answer below.

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A world built on blockchains – Ethereum Part 2

05. 05. 2016.

Satoshi Nakamoto published his theoretical white paper explaining the mechanism of the bitcoin in October 2008. Although the paper is only 9 pages long, it describes one of the most significant inventions in recent years, the blockchain technology responsible for the authentic clearing of bitcoin transactions.

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Web 3.0 – Ethereum Part 1

04. 05. 2016.

In summer 2014, I was psyched to learn about the concept of Ethereum. I found it a brilliant idea, and kept fingers crossed for the success of its implementation.

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Bitcoin is not the work of the devil

20. 03. 2015.

The massive economic policy experiment carried out worldwide with a combination of zero interest and money printing is far more terrifying and dangerous, because it is taking place at a systemic level. On the other hand, I can take at least some comfort in the knowledge that if the experiment were to fail, for example leading to economic chaos and soaring inflation, there is an instrument which provides a safe haven because there is a limited quantity of it available, it can function as scriptural money, and yet no authority can seize it, appropriate it or restrict its use.

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Bitcoin fundamental analysis

25. 02. 2015.

A fundamental analysis on bitcoin? Something that is completely intangible, and its price is determined by the current strength of a far-fetched belief? The momentary state of mind of eccentrics?

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China gets a taste for Bitcoin

22. 10. 2013.

There are several indications that Bitcoin is increasingly important to China. It is possible to buy Bitcoins on numerous Chinese exchanges, and the volume on them is growing rapidly, to the extent that on some days last week BTCChina was the exchange with the largest volume, in yuans! Trading in BTC against the dollar is being toppled from its throne, which is a pretty big turnaround.

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Give the FBI a piece of your mind!

11. 10. 2013.

In connection with the closure of Silk Road and the arrest of its owner, the FBI announced that it has seized more than 26,000 Bitcoins (worth around 3 to 3.5 million USD). That’s a pretty hefty sum. Since Bitcoin transfers are public, the internet crowd set about searching for the wallet where the FBI is holding the confiscated amount. They managed to find it, because on 2 October, the day that the FBI swooped, the exact amount in question was transferred to that wallet from several thousand other wallets.

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End of the Silk Road

07. 10. 2013.

Silk Road is the leading online drugs marketplace. It’s entirely public on the Deep Web, yet untraceable. Or at least that was the case until last week, when the FBI finally managed to arrest a 29 year-old man suspected of running the site, which has now been blocked. Approximately 26,000 Bitcoins were also seized (currently worth approx 3 million USD), suspected to derive from the revenues of Silk Road. So what happened? Can the users of the Tor network, which enables access to the Deep Web, be traced after all? Is Bitcoin not in fact anonymous? It seems that’s not the problem.

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