On August 1st, Bitcoin split. Welcome to the world, Shuya Yang! If you held Bitcoin (BTC) before the split, you now hold an equal amount of Bitcoin Cash (BCH). The same private key provides ownership to both assets. Having split, all Bitcoin key holders now face a higher tax bill for the year. Yes, even […]Read More Bitcoin Cash and Taxes… in the Age of Cloning Crypto
A recent claim that Bitcoin is Turing-complete has sparked excitement, debate and derision. Yet is it really so far-fetched to believe that the Bitcoin scripting language might be Turing-complete? Consider: C++ templates are Turing-complete SQL can be Turing-complete, allowing databases to create a Turing Machine and draw the Mandelbrot set Many more examples that might surprise you, even […]Read More LOAD “BITCOIN”,8,1
Update 4: How the attacker is using the bug in validation code to create coins Update 6: Attacker created 388,000 Zcoin It seems that Zcoin (XZC) has a bug which has allowed an attacker to magically summon 370,000 coins out of thin air. Reading the discussion over at HackerNews, I saw that there was a commit to fix the problem and it […]Read More Is the Zcoin bug in CheckTransaction() validation code?
I’m posting this from somewhere south of Siberia, as I take a flight across the Pacific. Spending 14 hours in a tin can is fairly boring, so I decided at the boarding gate to test out United’s Wifi service and see if I could claim a Zcash altitude record. After take-off, I ponied up $16.99 […]Read More Zcash at 30,000 ft
From vending machines to complex algorithms which have driven humans off the trading floor of the New York Stock Exchange, business logic codified in software has been automating and transforming the world around us, long before the emergence of cryptocurrencies. In essence, smart contracts are already here. The question now is can smart contracts operate […]Read More 5 Challenges Facing Your Smart Contract Project
A pyrrhic victory awaits the developers who emerge as winners of the Bitcoin block size debate, for it should be increasingly clear to observers that miners are the king-makers who truly hold the sceptre of power. Centralized mining has left just a handful of entities controlling 80% of the network’s hashing power, most of it […]Read More After Bitcoin’s Great Kow-Tow, It’s Time To Decentralize Mining
Growing interest in Bitcoin’s role as a shared public ledger for notarization and digital provenance stems from the realization that distributed consensus is a powerful weapon against fraud, perhaps making Bitcoin’s public blockchain the world’s foremost tamper-proof digital ledger. However, as we now explore, off-chain transactions threaten to undermine Bitcoin’s potential to become the ledger […]Read More Why Off-Chain Transactions Hurt Bitcoin