DLCs Are On Bitcoin, Bringing New Functionality And Major Potential

Bitcoin has been critiqued by those in the altcoin community for the past few years over its inability to host smart contracts. But recent work from developers at Suredbits, Crypto Garage and Atomic Loans — along with efforts from some independent contributors — on Discreet Log Contracts (DLCs) is bringing smart contracting to Bitcoin and will quell some of these critics. DLCs are uniquely positioned to bring smart contracting to Bitcoin using oracle contracts that are much more private and scalable than previously thought possible. What Are DLCs? DLCs are…

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Community-Funded Bitcoin Awareness Campaign Unveiled in Hong Kong

Since 2012, the Bitcoin Association of Hong Kong has been one of the strongest local communities focused on Bitcoin, boasting a current membership of over 5,000 people. During the month of September, the organization will be using donations to buy advertising space that feature informative statements highlighting “the risks and merits of Bitcoin”.  “The goal is mainly to kickstart a conversation around the merits of Bitcoin, especially in the context of the ongoing economic challenges,” explained Leo Weese, co-founder of the Bitcoin Association of Hong Kong. “I think the beauty…

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Square Launches Cryptocurrency Open Patent Alliance To Protect Innovation

Today, mobile payments company Square launched the Cryptocurrency Open Patent Alliance (COPA), a non-profit focused on keeping patents from becoming barriers to innovation in the space. “Crypto organizations (or even governments) have filed for hundreds of patents on cryptocurrency technology and continue to do so in large numbers,” a Square representative explained in a statement shared with Bitcoin Magazine. “Locking up foundational cryptocurrency technologies in patents stifles innovation and adoption; and offensive use of patents by bad actors threatens the growth of cryptocurrency technologies.” For instance, notorious Bitcoin fraudster Craig…

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Bitcoin Reddit Roundup – August 2020

Welcome to the 3rd edition of Reddit Roundup by Nik and Flip of Bitcoin Magazine! This contains 40 links to most of the best quality content that was uploaded to Reddit for this month. Most links come from the popular r/bitcoin, but we also retrieved posts from other ones as well such as r/BitcoinMining. In this roundup, there are 10 different categories each link falls under, and the categories are: Privacy, Adoption, Development, Security, Mining, Business, Education, Regulation & Politics, Archaeology (Financial Incumbents), and last but not least Memes, Fun,…

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The Top 5 Products That Every Bitcoiner Needs

In 2012, Bitcoin Black Friday was launched as a way for Bitcoiners to hack the mainstream consumerism holiday and promote their favorite technology as a killer tool for payments and encourage merchant adoption. Thousands of merchants have participated by offering discounts for customers who pay in BTC, but the celebration fizzled in 2017 as the Bitcoin community became embroiled in debates over block size and Bitcoin for payments became conflated with arguments over scaling. But this year, Bitcoin Black Friday is back with brand new deals that help Bitcoiners make…

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With TVL At New Record, The Lightning Network’s Time Has Come

This article originally appeared in our Weekly Bits newsletter. If you want our news and analysis before anyone else, make sure you subscribe now! This week, the Lightning Network set a new record for the dollar value held in its payment channels at $12.6 million, according to data shared by Bitcoin Visuals. This metric is also known as the total value locked (TVL) in Bitcoin’s second layer payments solution and demonstrates the amount of money that users have moved into the channels, which let them quickly and efficiently transmit value to…

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Invictus Capital Introduces Bitcoin Alpha Fund With Downside Protection For Investors

This is a promoted article provided by Invictus Capital. Invictus Capital, a leading blockchain asset management platform, has announced the latest upcoming fund in its offerings set which gives investors exposure to BTC while offering additional yield as well as downside risk protection. The Invictus Bitcoin Alpha Fund (IBA) is designed to outperform BTC by leveraging options and lending strategies that seek to give long-term BTC investors enhanced returns. The fund will maintain full BTC exposure at all times, while utilizing proprietary lending software to generate additional returns. Global investors…

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Our Hero Hal: Fundraising For A Bitcoin Visionary

Hal Finney is remembered as one of the early pioneers of Bitcoin, a peer-to-peer electronic cash system, and an advocate for widespread use of cryptography to help enhance people’s privacy.   Finney was one of the biggest defenders and supporters of Bitcoin from its earliest days. He rose to the defense of the still incubating technology against fellow cryptologists who were convinced it would never work. Finney held the distinction of getting the first bitcoin ever transferred to anybody as a test from Satoshi Nakamoto (whoever that is). He was diagnosed…

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The Genesis Files: How Hal Finney’s Quest For Digital Cash Led To RPOW (And More)

Once described by PGP creator Phil Zimmerman as “the Mister Rogers of cryptography,” Hal Finney (1956) was known for his relentlessly uplifting spirit. He carried a positive perspective on life with him even when amyotrophic lateral sclerosis (ALS) paralyzed his entire body, until the Bitcoin pioneer ultimately passed away from the disease on August 28, 2014. In the 1980s, as a graduate from the California Institute of Technology working in the startup computer game industry, Finney’s optimism made him fit in naturally with the Extropians. This Californian techno-libertarian movement drew…

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A Monetary Layer For The Internet

ARPANET’s First Mark Into Networked Computing Created in February 1958, the Advanced Research Projects Agency (ARPA) was a response to the Soviet launch of Sputnik 1, the first artificial Earth satellite, to research and develop projects in technology and science beyond direct U.S. military applications. Bob Taylor, an ARPA computer scientist, convinced a colleague to support a research project using funding from a ballistic missile defense program. Following three years of research, the ARPANET project was launched as the first network to connect two geographically-distinct computers. On October 29, 1969…

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