Security Now 287: BitCoin CryptoCurrency

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  1. 47:30 "Dollars are fair because someone can't just go into the hills and find some gold, you have to earn dollars" – completely ignoring the fact that dollars are created without work! **head slap**

  2. Enky Nakamura 4 years ago:
    " he mentioned 93 cent for a bitcoin, now we are at 9$ per bitcoin!!"

    And now we are at $280 USD for one bitcoin….. $9 sounded amazing to Enky Nakamura 4 years ago but sounds so cheap now… I wonder how much a bitcoin will be worth in another 4 years….

  3. Very curious Steve why don't you create a cyrptocurrency coin that would be more secure than what is currently available?  With your followers you should be able to get plenty of them getting your coin.

  4. PDP-1? An old computer Steve Gibson was familiar with decades back. They used to run off of magnetic rings strung up in a grid. The ones you see run off a tiny board behind the display. He built and programmed them as decorations.

  5. "I think the growth rate is estimated at something like 4.2 MB per year… would be the maximum amount of storage that this architecture requires."

    As of 2013-04-07, the blockchain is expanding at a rate of ~6 GB per year and is accelerating.

  6. I just thought I'd drop in for all you bitcoiners to say this: I'm pretty much a middle-late early adopter on all good things by my nature, like clockwork. As of last night, I downloaded my first bitcoin client and I'm going to start using it, and I'm excited about it. It's time to disassemble the Fifth Plank and build a real future.

  7. Slight mistake there at the beginning: Nobody actually knows who invented Bitcoin.
    "Satoshi Nakamoto was the pseudonymous person or group of people who designed and created the original bitcoin protocol and launched the bitcoin network. Beyond bitcoin, no other links to this identity have been found." – source: Wikipedia

  8. Its been nearly 2 years. A lot has changed, but the algorithm remains secure. We're fast approaching the block halving, an important milestone for this fledgling currency. It would be great to have another SN on bitcoin. It would also be a really great idea to get the lead developer on triangulation (with Steve Gibson and either Leo or Tom) Who's with me? Can I get a Harrumph?

  9. BIG WASTE OF TIME! The guy takes an hour to explain something that only takes about 10 minutes to explain. I read the document on the bitcoin site and understood it within 10 minutes. Its not that complicated, and it is very clever. However, this guy explaining it is a HORRIBLE communicator and it was a complete waste of my time to watch the video.

  10. The US gov't didn't go off the gold standard because the stock of gold was insufficient or anything like that. The reason was simply because a gold-backed currency cannot be manipulated as easily as a fiat currency, which allowed for politicians by spend by using the printing press instead of increasing taxes which voters will notice. Inflation is more subtle but just as dangerous in the long run.

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