Mick Meaney | With the announcement of Microsoft’s next generation gaming console, the Xbox One, it has emerged that the new system carries a device that will be constantly listening’ to gamer’s conversations.
The bitcoin network hashrate estimate on bitcoinwatch.com passed 1 exaFLOPS (1,000 petaFLOPS) this week – over 8 times the combined speed of the top 500 supercomputers. Experts will be quick to point out that this estimate is flawed, since no FLOPS are actually used in bitcoin mining. FLOPS stands for FLoating-point Operations Per Second, and is frequently used as a standard to measure computer speed. Bitcoin mining uses an integer calculation and almost no floating-point operations, so converting bitcoin network speed to this standard is somewhat clumsy.
Markets frequently see periods of low volatility and consolidation around a price level before making large moves higher. These consolidations help establish a foundation and confidence around a given price and burn off resistance sellers. There’s also another analogous situation unfolding: the current price level is roughly 50% of the peak high in April. The 2011 high saw consolidation around the 50% mark, at $14.
“I don’t have a background in cryptography, and get a little confused when looking through what actually happens in a bitcoin transaction. How do I know that no one else can spend my bitcoins? Is there any way someone just use my address to figure out my wallet?”
- Eric from Norway
PayPal president David Marcus tells Fortune why he embraces digital currency and when Americans can reasonably expect to go wallet-less.
In this open letter to all Bitcoin businesses and future businesses, I want to draw some attention to issues concerning transparency towards Bitcoin customers. The main motive for writing this letter is my recent confrontation with extreme delays and unexpected fees at Mt.Gox.