Bitcoin News
Daily diary of what's happening with Bitcoin.
The latest from Vitalik Buterin of Bitcoin Magazine (@BitcoinMagazine) covers this significant day for Bitcoin — the day the first ASIC mining rig has been powered up by a consumer. Excerpts:
“Now the Bitcoin community can finally rest easy knowing that the long-awaited ASICs are indeed real.”
-
“[Recipient of the first unit, Bitcoin developer Jeff Garzik] followed up with a message on Bitcoin IRC announcing the news that Bitcoin enthusiasts everywhere have all been waiting for: ‘mining!’, soon followed by a statistic: the machine’s average hashrate is 68252.65 MH/s.”
-
“Avalon is not releasing its next batch until early March, and Avalon and Butterfly Labs may well be working nonstop for the foreseeable future as more and more customers line up to buy their own. The Bitcoin ASIC revolution, far from nearing its finish line, is now only beginning.”
- http://bitcoinmagazine.com/working-avalon-asic-confirmed
- http://bitcointalk.org/index.php?topic=139704.0 (Further Avalon-ASIC discussion)
All News - Daily E-mail Subscription - Twitter: @BitcoinNews
Bitcoin.org core development contributor Jeff Garzik (@JGarzik) spoke at the Bitcoin Conference 2012 on the State Of The Coin. The slides are available as a PDF. Excerpts:
“Bitcoin reference client changes: [excerpt is just a partial list]
- Internal test suite greatly improved;
- IPv6, SOCKS5, Tor/I2P hidden service
- Multi-Signature transactions are now standard
- Raw transaction RPC API
- Block download speed-up (better, but still painful)”
-
“Bitcoin ecosystem: [excerpt is just a partial list]
- Users: Difficult to estimate, but probably over 500,000 at this point.
- Exchanges: Learning lessons. Trial by fire.”
- http://gtf.org/garzik/bitcoin/2012/state-of-the-coin-2012.pdf (PDF)
- http://bitcointalk.org/index.php?topic=109920.0 (Further discussion of this document)
All News - Daily E-mail Subscription - Twitter: @BitcoinNews
The Bitcoin Show put out this Bitcoin Conference 2011 keynote speaker video:
“Jeff Garzik (@jgarzik) a Linux Kernel and Bitcoin developer speaks about the state of Bitcoin”.
- http://www.youtube.com/watch?v=fRjEd8NS4Wc
- http://yyz.us/bitcoin/TheStateoftheCoin2011.pdf (slides)
Other videos:
A post on the Bitcoin Money blog describes the upmoning Bitcoin Conference and World Expo 2011 to be held in New York City this weekend, August 19-21, 2011.
Excerpts:
“This event’s agenda and schedule shows full Bitcoin immersion — beginning with the conference registration itself as paying for admission requires bitcoins. The breakfast, lunch, dinner and cocktail reception are all held at various establishments where bitcoins are accepted”.
“A number of businesses will be announcing products, services and future plans during the conference”.
- http://www.bitcoinmoney.com/post/9044587106
- http://bitcoinme.com/index.php/bitcon-2011
In a blog post titled “Response to Adam Cohen”, Bitcoin core development team member Jeff Garzik goes through a Bitcoin dissenter’s arguments, one by one.
“2. Deflation is evil”
“Bitcoin is quite different from the foundations of much deflation study, which often includes an assumption […]. Issuance of bitcoins has nothing to do with debt.”
“4. Something might go wrong, somewhere, sometime”
”Everyone invested in the system has an incentive to fix the problem”.
Bitcoin core development team member Jeff Garzik is interviewed by Shira Lazar.
Shira: “The most fascinating part of this story […] is how people are paying for them. Bitcoins form an encrypted, virtual currency.”
Jeff: “You have multiple computers on the Internet, easily probably over 100,000 at this point collectively working to verify Bitcoin transactions on the Internet. So it’s a shared trust type of tech. The verification network is more powerful than the world’s largest supercomputers. You have much more technology dedicated to securing the [currency] than you do with protein folding or [other] supercomputing tasks”.
