Technology

TALKING HEADS: Do You Consider The Lightning Network A Proof-Of-Stake System?

TALKING HEADS: Do You Consider The Lightning Network A Proof-Of-Stake System?

It’s time to find out what the protagonists have to say. In TALKING HEADS, Bitcoinist will ask the experts about the cryptoverse’s overarching themes and latest news. This time, we have an all-star cast that’s as diverse as the times we’re living in. Prepare to have your mind electrified by these talking heads’ ideas and …

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Why Are Taproot Smart Contracts More Private? A Non-Technical Explanation

Why Are Taproot Smart Contracts More Private? A Non-Technical Explanation

Our exploration of the new superpowers Taproot gives to Bitcoin continues. Yesterday, we defined smart contracts and covered the functionality of the Taproot-enabled ones. To summarize, Taproot gives new characteristics to Bitcoin layer one that enable smart contract expressiveness in layer two solutions. Today, the topic is privacy. What happens on the blockchain stays there …

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Does Taproot Actually Enable Smart Contracts On Bitcoin? The Debate Rages On

Does Taproot Actually Enable Smart Contracts On Bitcoin? The Debate Rages On

Was it irresponsible of us to state that Taproot would “enable smart contract deployment”? Maybe it was. Bitcoin received its first major network upgrade since 2012, and users and publications alike are still trying to figure out what Taproot means for the ecosystem. To complicate the picture even further, Layer 1 received the changes and …

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Taproot Is Live! The Community Reacts To Bitcoin’s First Upgrade Since 2017

Taproot Is Live! The Community Reacts To Bitcoin’s First Upgrade Since 2017

Ladies and gentlemen, we live in a Taproot world. The update will enhance Bitcoin’s performance and enable smart contract deployment. Starting today, all transactions in the Bitcoin network look alike, improving privacy. It doesn’t even matter how the market reacts. It’s a great day for Bitcoin and the community is celebrating it as such, sharing …

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That JPMorgan Report On El Salvador Doesn’t Even Mention The Lightning Network

That JPMorgan Report On El Salvador Doesn’t Even Mention The Lightning Network

How embarrassing! As more details about JPMorgan ’s “The Bitcoinization of El Salvador” report come to light, the reality of the situation settles. Traditional organizations don’t have a clue that the Lightning Network exists and is up and running. More so, Bitcoin is legal tender in El Salvador because and only because El Zonte is …

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BTC + The Lightning Network ’s Energy Consumption Vs. The World, A Comparison

BTC + The Lightning Network ’s Energy Consumption Vs. The World, A Comparison

Let’s admit it, the narrative around Bitcoin’s energy consumption really hurt the movement for a while there. The Lightning Network fixes this. Was the narrative warranted? Absolutely not. However, we still need to address it. And the Lightning Network proves to be a powerful tool to do so. As the miners leave China in search …

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Lessons From The “This Machine Greens” Bitcoin Documentary, Pt 2: Clean Energy

Lessons From The “This Machine Greens” Bitcoin Documentary, Pt 2: Clean Energy

There are even more lessons in the “This Machine Greens” documentary. Could Bitcoin mining actually be a net positive for the environment? That’s their thesis. The documentary has Swan Bitcoin’s seal of approval, Enrique Posner produced it and  Jamie King, of “Steal This Film” fame, directed it. In the first part of this analysis, we …

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Apple’s Steve Wozniak Knows What’s Up: “There Can Never Be Another Bitcoin”

Apple’s Steve Wozniak Knows What’s Up: “There Can Never Be Another Bitcoin”

The technical genius behind Apple, Steve Wozniak AKA The Woz, visited Yahoo! Finance to talk about everything under the sun. They titled the post “Steve Wozniak on accepting crypto pitches in ‘Unicorn Hunters’,” even though only the last few minutes were about that. Such is the power of cryptocurrencies. Unicorn Hunters is a Shark-Tank-like show …

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Rapidly Growing Bitcoin of America Expands Its Territory Into Tennessee

Rapidly Growing Bitcoin of America Expands Its Territory Into Tennessee

Bitcoin is the first and a truly peer-to-peer, decentralized cryptocurrency. Part of what imparts Bitcoin and its underlying network value is the fact that anyone in the world can buy/own it, trade, and transact with it without the need for a third-party intermediary. As the Bitcoin FOMO is sweeping the globe once again, everyone wants …

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Bitcoin Development Activity is Being Funded by These Players

A just-released report from Bitmex shows that Bitcoin platform development continues to grow and diversify. A look at key players reflects greater interest in scalability and bringing the flagship cryptocurrency into a position for effective mass use. Multiple Bitcoin Projects Supported The report shows that Blockstream and Lightning Labs have become by-far the top institutions …

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Lost Bitcoin Could Become Recoverable, Blockstream CEO Confirms

Blockstream CEO, Adam Back, says that the company is looking at implementing a method by which lost bitcoin will become recoverable. But before you stop trawling through the tip for that old hard drive you threw out, he wasn’t referring to those lost bitcoin. Backup Bitcoin Keys Talking during an interview at the Lighting Conference in Berlin, …

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4 Bitcoin ‘Loss’ On Lightning Network is FUD, Says Community

A reported loss of 4 bitcoin on Lightning Network has been blamed on either user-negligence or FUD-spreading. Community members variously described the user as ‘an idiot’ and ‘in over his head’, if the loss really occurred at all. “Wow… looks like I lost 4 BTC” It all started with a question posted on Reddit along with some screenshots: …

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You Can Now Trade Binance Bitcoin Futures On Android App

Binance futures trading is hitting all-time highs. Now, to further facilitate trading, the leading exchange has updated its mobile application. This update allows users to increase their trading position at up to 125:1 leverage. Futures Trading Hits All-Time Highs On October 18, 2019, despite Bitcoin’s recent price trend, the leading cryptocurrency exchange Binance reported that …

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Blockchain To Ensure ‘Ethical Provenance of Gold’, Protect Miners Health

The global luxury jewelry industry and the mining industry are exploring blockchain technology to improve efficiency, tracking of materials, and enhancing transparency. Most importantly, the aim of using blockchain technology includes protecting miners’ health and the environment. NYT: “Blockchain Is a Growing Niche Within the Global Jewelry Industry” The World Gold Council indicates that the …

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BigTech Companies See Bitcoin Technology as Empowering

Social media giants are no longer opposing the power of decentralization and bitcoin technology. Instead, they are embracing it to solve the problems of a centralized Internet and put the power back in people’s hands. Bitcoin Decentralization ‘could unload some of their burdens.’ Since Bitcoin’s inception, many in the financial and technology sectors saw Bitcoin …

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