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Trezor Bitcoin Hardware Wallet On Pace for October Deliveries

Trezor is the first mass-produced bitcoin hardware wallet and is on pace to reach customers’ hands next month. Hardware wallets, as opposed to the software wallets currently in use, allow users to store their bitcoins off of personal computers but maintain the ability to transfer bitcoins conveniently. The wallet is able to sign bitcoin transactions while connected to a computer via USB, without allowing the computer access to private information. Gavin Andresen, the lead developer of bitcoin-Qt, stated in June that wallet security is the largest concern in the coming year and that hardware wallets will be hugely beneficial. Bitcoin’s history is storried with software attacks that have led to stolen bitcoins. One of the earliest known bitcoin thefts allegedly occurred in 2011 when the security of a user’s personal computer was compromised, offering an intruder access to the victim’s unencrypted wallet file from which 25,000 BTC was emptied. Trezor should be the first step in alleviating these types of concerns. Trezor is founded by Marek “Slush” Palatinus, the inventor...

The post Trezor Bitcoin Hardware Wallet On Pace for October Deliveries appeared first on The Genesis Block.

Litecoin and Bitcoin in the Context of the Gold-Silver Ratio

As the digital currency markets continue to mature and build trade history, we can learn more about market reactions, patterns and influences. Often cited as the digital version of gold – a finite, non-state wealth store – bitcoin may be joined in the world of nouveau analogies by litecoin, which has already become commonly referenced as digital silver. Litecoin (LTC) is nearly identical to bitcoin with a few notable exceptions. Litecoin uses a different proof-of-work algorithm chosen specifically to make mining possible with consumer-grade hardware. Additionally, the LTC protocol targets 2.5 minutes average block times (compared to 10 for BTC) and is set to issue 84 million total LTC (compared with 21 million total BTC). BTC and LTC, like gold and silver, have similar macro demand drivers, trade with a high correlation, and maintain banded ratio patterns. The implications of this for traders can be significant as time-tested strategies become increasingly applicable to these new, digital asset classes. The Gold-Silver Ratio In the world of precious metals trading, the gold-silver...

The post Litecoin and Bitcoin in the Context of the Gold-Silver Ratio appeared first on The Genesis Block.

We are alpaca sock-wearing crypto-terrorists!
04.21.11 · Status updates (1k miles!)
  • This is now day 13 of my #BitcoinRoadtrip, and so far I’ve successfully managed to not spend any dollars at all
  • I passed 1000 miles on my trip odometer Wednesday, as I drove into Raleigh
  • I don’t have any known gas stops between Carrboro, NC and Savanna, GA. I’m planning to stop in Charlotte, NC, where I will stay until I can find someone willing to fill me up in exchange for bitcoins. Know anyone who might be able to help?
  • I’m going to give a presentation about Bitcoin in Huntsville, Alabama. Details and time TBD
  • I’ve found that mybitcoin.com is effective for sending coins on the go, but it’s inconvenient as hell. Can’t wait for @bitcoinlabs upcoming Android client!
  • I still need that data cable to get photos off my camera (or a compactflash card reader)
  • If anyone wants to donate a coin or two, send to: 1Dj1SocbbH9Lbb9aTdqSHB9AAjhdxNNZha
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04.21.11 · The Couchsurfers of Chapel Hill

I’m in the school library at the University of North Carolina, Chapel Hill. The campus is gorgeous, it’s all trees and grass and flowers and brick. Everything’s really well maintained - props to the groundskeeping staff!

I left Raleigh yesterday and drove half an hour to Carrboro, NC, which is one town over from Chapel Hill. Chapel Hill’s population is about 52,000, and about half of those are UNC students. (I pulled these numbers from wolframalpha.com - try typing in your hometown to see what data they have!)

I met up with James, Chris, and Gloria at “Carrburitto” when I arrived in Carrboro. James paid dollars for my quesadilla. I forgot to send him coins, so note to self - do that tonight! Carrburitto was really cool; we ate outside in a small triangular courtyard. It was surrounded on two sides by roads, but it felt like an oasis in the middle of a busy town - there was greenery climbing up the walls, a fountain in the corner, and birds pecking at scraps of tortilla chips on the flagstones. We relaxed there for a few hours, killing time and coming up with new, clever ways to use Bitcoins. Afterwards, we drove to a nearby house for an electronic music show. I promised video, but unfortunately I left my camera in my car, so no dice. Sorry!

The show was cool. The Sagan Youth played some sweet synth tunes, followed by a few more acts. We left after the second artist, who was playing glitch sounds from a Game Boy Color and some other assorted electronics.

From left: PLATO, James, Gloria, Chris

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04.20.11 · Southern Hospitality

I left DC yesterday morning, and headed south towards I-95. Traffic was miserable for about an hour; suddenly, it all cleared up. That seemed to be a watershed, because after that point, the roads have been better, the drivers have been better, the climate’s been warmer, and I’ve been enjoying myself more. I’ve spent most of my life in the Northeast; I didn’t expect the South to be so different. It’s much warmer, for one. It’s hard to put a finger on the differences - but everything seems to be operating at a lower frequency; less hectic, more predictable. I like it.

I met up with Jake Parrish in Richmond, VA, for a quick pit stop. We filled up my tank and got some food, then I continued south to Raleigh, NC, to meet up with Jake’s brother, David Parrish. Jake and David are both web developers - they showed me some of their work, and I was impressed. If you need a slick site, check out what they have to offer at UpgradeYa!

Back when I met Llama at MIT, he asked me if I liked Bitcoin for its technology, economics, or politics. I had to answer “all three,” but I lean a little bit to the political side of the table. David and Jake do too, so we spent some entertaining hours talking about the political implications of anonymous digital cash. David showed me a podcast called ‘Cypherpunkd’ - this just launched, and it looks to have a lot of potential. If you’re interested in bitcoin politics too, you should definitely take a look.

Tonight I’m going to meet some couchsurfers who use Bitcoin. Apparently they’re having a electronic music show tonight, so I’ll try and get some video. Developer jgarzik is rumored to live around the Raleigh area as well, so I’m hoping to get in touch with everyone, and set up the first Raleigh Bitcoin Meetup this Friday night (4/22.)

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YouTube - Bitcoin Mining
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YouTube - Bitcoinrig
04.19.11 · NYC and DC

It was great to spend a relaxing evening with my family last Thursday night. My little sister agreed to take care of my turtle while I’m travelling. His name’s Mister T - I’ll post a couple pictures when I can get the photos off my Nikon.

I topped up my transmission fluid (there’s a leak somewhere), reassured my parents that I’ll survive the trip, and played some Rock Band with my little brother. I got trounced; he was hitting full sections of Through The Fire And The Flames on expert guitar, while I weakly kept up on drums.

I repacked my car and hit the road. Taking the Palisades Parkway south, I ended up in Manhattan, to visit @BruceWagner and @EdwardGel. They were kind enough to pay for my parking while I stayed in Manhattan - thanks guys!

On Friday we taped the first episode of The Bitcoin Show. This is one of a couple dozen shows that will make up Bruce’s upcoming network, OnlyOneTV. We talked about my trip, about some of the excellent projects the community has made, and @BitcoinLabs upcoming Bitcoin ATM. You’ll send coins to the ATM and it’ll spit out dollars - it was really cool.

After that, I was off to Brooklyn, to visit my friend Will. We stayed up late watching Futurama and playing Left 4 Dead 2. I bought some food from him, using Bitmail to send coins.

This weekend was my first time driving in New York. It… kept me alive? Dodging the Mercedes that blindly turned in front of me, dodging pedestrians, losing GPS signal, the works… at least in NY, having a car was much more of a hindrance than a help.

DC feels the same way. Today’s Tuesday and I’m staying at an apartment in Columbia Heights. Parking is awful - DC has some really draconian parking regulations. The owner of the house is a bitcoiner who offered to let me crash for a couple nights; there’s half a dozen people who live here and they’re all really cool. Last night was Passover, so I attended my first Seder. The food was good and we all had a great time.

While I was skateboarding through DC I blundered into a protest. Turns out it was “Power Shift.” More on that later.

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04.14.11 · Goodbye, Union College

Day 6. 365 miles travelled.

After leaving MIT on Monday, I hit I-90 West. In an effort to improve gas mileage, I tossed on a podcast (Dan Carlin’s Hardcore History), ticked along in the right lane at 55mph, and ignored everyone behind me. In a successful attempt to emasculate me, a neon green SmartCar blew by my Pontiac, leaning on his horn. Under normal circumstances I would have hit the gas, accellerated to somewhere north of eighty mph, and leapfrogged him to assuage my pride - but this #BitcoinRoadtrip is pretty far from normal. I’ve got 537 bitcoins, and I want them to last as long as possible. That means hypermiling!

I pulled off at a rest stop to check my fluids and take a quick nap.  I discovered that my car’s not really conducive to sleeping, since it’s pretty packed and there’s no room for the seats to recline. Cramped but otherwise refreshed, I continued to Union College.

Union’s a fun place and I know a lot of people there. I met up with various friends on Monday, Tuesday, and Wednesday, attempting to convince various skeptical parties that Bitcoin was the Next Big Thing. I wanna give a shoutout to Jim Walker, for his contribution to help me buy my camera - thanks dude! (Incidentally, anyone want to proxy buy this data cable for me so I can get pics off it?) Also, I placed a 5BTC bet on a chess game with my friend Parker. It was remarkably close for half an hour, but I ended up finally losing due to my weak endgame.

Thursday morning, I drew up some advertisements on my whiteboard, and sat in the campus center. As people walked by, I asked ‘Wanna learn about a new kind of money?’ About one in four were interested enough to hear my elevator pitch.

I moved on to the Electrical Engineering department, to give a brief seminar on Bitcoins. Turnout was maybe twenty people, evenly split between faculty and students. I talked for half an hour about how the network is set up, and the mechanics of transaction processing and blocks, then moved on to all the interesting projects that the community has created. To my chagrin, I learned just how easy it is to get bogged down in the technical details, but in the end it seemed that most people got what they came for.

Leaving Union, I drove south to my parents’ house near Newburgh, NY. I’ll stay here Thursday night, then drive to NYC Friday evening. @BruceWagner has offered to put me up for a night and pay for parking - TIA!

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04.11.11 · The Illustrious Llama of MIT

[Backdated, written on 04.13 - PLATO]

Day 3. 165 miles travelled.

I spent a relaxed Saturday night with my former college roommates in Quincy. Sunday morning, we made some delicious pancakes, then headed to a mediocre beach. After receiving many admonishments to ‘not die’, I bid my friends farewell, and started driving to Cambridge. This was only my second experience with Boston traffic.  It was far better than New York, but I can’t imagine how hellish it must have been before the $15 billion Big Dig tunnels.

I found my way to the MIT campus and got in touch with “Llama”. After a quick tour of campus, we went back to his dorm room and proceeded to talk shop. Llama’s quite the entrepreneur. As a freshman, he’s already running a successful business, Qugelmatic Books on Ebay. (They accept Bitcoins!) He’s also the co-creator of BitMail, with “Lachesis” - a handy way to introduce people to Bitcoin. We ate a delicious dinner at Llama’s fraternity (rice pilaf, tender chicken and biscuits.) I slept on his couch, lulled by the sound of a dual-5870 mining rig humming away in the corner.

The next day, I tagged along to Llama’s e-mag class. My e-mag knowledge is pretty patchy to begin with, and I was somewhat skeptical of the c’s that appeared out of nowhere due to MIT’s use of the cgs unit system, so I got lost. But, I was pretty impressed that the professor was one of the founders of WiTricity.

I just bought half a tank of gas for 30btc from Llama, and said goodbye. I’m heading to my alma mater, Union College, about four hours west along I-90. I expect to give a talk about Bitcoins for my EE department sometime midweek. I know a lot of people in Schenectady, which should make this week one of the easiest of my trip - after I’m south of NYC, it’s going to be more difficult, because I know very few people IRL.

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What is Bitcoin?

More information on http://www.weusecoins.com

This video is a short animated introduction to Bitcoin, made possible with donations from the Bitcoin community.

We'd like to thank:
- Donators for the Bitcoin Animated Movie Bounty
- Bitcoin users and miners around the world
- Everyone from #bitcoin-dev and #bitcoin-otc on Freenode for help with the technical side and history of Bitcoin
- gavinandresen, [mike] for reviewing the script
- Greg, Steve, Dan and Jasmin who provided their professional help and insights for free
- All of our friends, family and random strangers who took the time to read the script and provide feedback

Credits:
Voice - Chris Rice (www.ricevoice.com)
Motion Graphics - Fabian Rühle (fabianruehle.tumblr.com)
Music/Sound Design - Christian Barth (www.akkord-arbeiter.de)
Production - Stefan Thomas

License:
This video is released under a Creative Commons 3.0 Attribution license.
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