Silicon Valley sitcom uses ‘51 percent attack’ in season 5 finale, but is the scenario representative of a real-world possibility?
After the notorious 5 BTC ‘bitcoin puzzle’ was solved last January after years of people trying to crack it, now another bitcoin puzzle was launched this week on forums and social media. On May 19, 2018, a person posted an image which contains a bitcoin puzzle that rewards the solver 1 BTC.
Bitcoin Puzzles: Hiding Cryptocurrencies in Plain Sight
Since the inception of bitcoin and other cryptocurrencies, visual puzzles that contain digital asset rewards have been very popular. This week a Reddit user named ‘u/cryptogreetings’ posted a cryptic picture online that contained a puzzle with a 1 BTC prize. Since the image was published online no one has been able to crack it so far as the public address can be seen here. The picture is black and orange and white with a bitcoin symbol and many words, and numbers strewed across the image. The creator says if no one can crack it in a week they will publish some hints to help people out.
“This work is comprised of Satoshi Nakamoto’s famous whitepaper words, scaled by Log N. Disparate ideas inspired Satoshi to create a solution to revolutionize modern socio-economics and industry,” explains the Reddit user u/cryptogreetings.
The work reflects on the elements that brought this technology to life, and challenges the underlying security model. Hidden in plain sight lies something more: a treasure hunt. 1 BTC is concealed within the work.
The Infamous Coin Artist 5 BTC Puzzle Solved This Year
Just recently news.Bitcoin.com reported on a famous bitcoin puzzle that contained 5 BTC for years before the puzzle was decrypted. The painting called ‘The Legend of Satoshi Nakamoto’ was designed by @coin_artist, who had hidden clues that revealed a private key to the tethered wallet. The puzzle was solved by a 30-year old programmer named ‘Isaac’ who solved the puzzle in less than two months. Isaac just happened upon the puzzle while searching for cryptocurrency related riddles online.
Cryptocurrency Puzzles and Riddles Strewn Across the Web
There have been tons of bitcoin puzzles over the years and there even is a Reddit forum dedicated to these riddles called r/bitcoinpuzzles. The Reddit forum has lots of puzzles with large funds hidden and smaller mBTC fractions. News.Bitcoin.com reported on another bitcoin puzzle series that is tied to an Enigma game on Steam. Montecrypto is a game specifically designed for armchair detectives as this past February the game made headlines worldwide. During the first week of February, a gamer solved the Montecrypto puzzles and accumulated $50K worth of BTC, BCH, and other coins.
As long as cryptocurrencies can be hidden people will always try to solve these puzzles using techniques like uncovering obscure clues, utilizing steganography and cryptography. People have also stored puzzles within the digital asset’s network as well as one user in 2011 wrote a paper describing a way to implement steganography inside the Bitcoin Core (BTC) network. “That is, storing hidden messages inside the network, that would be available only to those who knew where (and how) to look,” explained the creator and his paper’s summary.
What do you think about people storing cryptocurrencies in photos and puzzles? Let us know what you think about this subject in the comments below.
Images via Shutterstock, u/cryptogreetings, @coin_artist, and Twitter.
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Let’s go over what happened in crypto last week. Price Watch: Bitcoin Price is down 1% this week after dropping around $1,000 last week. The drop comes in stark contrast to what some high-profile analysts had predicted. Investors have been waiting patiently to regain the all-important $10,000 support level. Ethereum is up 5% this week after being down … Continued
The post More Whales, Bans, and an Optimistic Cookie Monster: This Week in Crypto appeared first on CCN
Although bitcoin and blockchain technology may not take up quite as much mental bandwidth for the general public as it did just a few months ago, companies in the space continue to rake in capital from investors.
One of the latest to do so is Circle, which recently announced a $110 million Series E round led by bitcoin mining hardware manufacturer Bitmain. Other participating investors include Tusk Ventures, Pantera Capital, IDG Capital Partners, General Catalyst, Accel Partners, Digital Currency Group, Blockchain Capital and Breyer Capital.
This round vaults Circle into an exclusive club of crypto companies that are valued, in U.S. dollars, at $1 billion or more in their most recent venture capital round. According to Crunchbase data, Circle was valued at $2.9 billion pre-money, up from a $420 million pre-money valuation in its Series D round, which closed in May 2016. According to Crunchbase data, only Coinbase and Robinhood — a mobile-first stock-trading platform which recently made a big push into cryptocurrency trading — were in the crypto-unicorn club, which Circle has now joined.
But that’s not the only milestone for the world of venture-backed cryptocurrency and blockchain startups.
Back in February, Crunchbase News predicted that the amount of money raised in old-school venture capital rounds by blockchain and blockchain-adjacent startups in 2018 would surpass the amount raised in 2017. Well, it’s only May, and it looks like the prediction panned out.
In the chart below, you’ll find worldwide venture deal and dollar volume for blockchain and blockchain-adjacent companies. We purposely excluded ICOs, including those that had traditional VCs participate, and instead focused on venture deals: angel, seed, convertible notes, Series A, Series B and so on. The data displayed below is based on reported data in Crunchbase, which may be subject to reporting delays, and is, in some cases, incomplete.
A little more than five months into 2018, reported dollar volume invested in VC rounds raised by blockchain companies surpassed 2017’s totals. Not just that, the nearly $1.3 billion in global dollar volume is greater than the reported funding totals for the 18 months between July 1, 2016 and New Year’s Eve in 2017.
And although Circle’s Series E round certainly helped to bump up funding totals year-to-date, there were many other large funding rounds throughout 2018:
- $118 million raised by Orbs, a purported “consumer-ready blockchain” service set to launch in June.
- $75 million closed in a Series B round for Paris-based secure hardware wallet-maker Ledger.
- $32 million raised by Project Shivom, which claims to use two hyped technologies — blockchain and artificial intelligence — to analyze and protect genomic data.
- $16 million in a Benchmark-led Series A round for Chainalysis, a blockchain analysis platform.
There were, of course, many other large rounds over the past five months. After all, we had to get to $1.3 billion somehow.
All of this is to say that investor interest in the blockchain space shows no immediate signs of slowing down, even as the price of bitcoin, ethereum and other cryptocurrencies hover at less than half of their all-time highs. Considering that regulators are still figuring out how to treat most crypto assets, massive price volatility and dubious real-world utility of the technology, it may surprise some that investors at the riskiest end of the risk capital pool invest as much as they do in blockchain.
Notes on methodology
Like in our February analysis, we first created a list of companies in Crunchbase’s bitcoin, ethereum, blockchain, cryptocurrency and virtual currency categories. We added to this list any companies that use those keywords, as well as “digital currency,” “utility token” and “security token” that weren’t previously included in the above categories. After de-duplicating this list, we merged this set of companies with funding rounds data in Crunchbase.
Please note that for some entries in Crunchbase’s round data, the amount of capital raised isn’t known. And, as previously noted, Crunchbase’s data is subject to reporting delays, especially for seed-stage companies. Accordingly, actual funding totals are likely higher than reported here.
This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.
The sooner our education system is digitally disrupted, the better
It’s difficult to measure the impact of higher education, either in a monetary sense or otherwise, although a few studies have tried. One recent study, involving 14,780 higher education institutions in 78 countries over six decades, suggested that doubling the number of Universities in a region results in a 4.7% increase in GDP per capita over five years.
Two main reasons were suggested by the authors – a rise in workforce skill levels, and improved research and innovation.
This is a vote of confidence for a higher education model that is coming under increased scrutiny, particularly as the cost of University tuition continues to balloon all over the world. In fact, OECD countries are currently spending an average of 1.6% of their GDP on higher education, up from 1.3% in 2000.
In light of continual increases in the cost of higher education, we must ask whether we might be able to achieve these increases in workforce skill levels via a different systemic path.
Recent years have seen the rise of various platforms that host what might fairly be called recreational educational content, such as Udemy, Udacity or even YouTube. These platforms offer opportunities for self-education, and although they may offer courses relevant to many professions, they can’t really be considered competitors to the traditional education system because their courses aren’t recognised by employers.
Tutellus xxx, yyy explains what needs to change in the digital education space:
“The traditional higher education system will only be truly under threat from digital disruption when employers recognise qualifications and courses supplied by digital platforms. This places the burden on platforms to ensure their courses are of sufficient quality”
Tutellus is a startup that is creating a platform with exactly this vision in mind. The Tutellus ecosystem integrates students and teachers with employers and is built on blockchain technology with two native tokens – TUT and STUT. The tokenomic profile of these tokens, as well as the platform’s revenue model, aims to create incentives around the production of students (graduates) that’re truly ready for a given job or career.
Students are financially rewarded for the time they spend on the platform; teachers keep the large majority of the revenue their courses generate as well as a cut off the fee paid by employers to hire one of their students; employers get access to a ready pool of keen, driven candidates.
The Economy and Beyond…
The study mentioned previously, unsurprisingly, showed that more higher education institutions results in a rise in workforce skill levels, which contributes to economic growth.
A more surprising finding of that same study was that an expansion of higher education systems was also associated with a greater prevalence of pro-democracy views among individuals.
Innovations that scale often have unintended consequences, and it’s hard to foresee how easier access to quality education could result in anything less than positive. We can’t tell exactly where things will go but what is clear is, the sooner our education systems are disrupted, the better.
Tutellus has partnered with Cryptonomos to conduct its ICO. The presale began on May, 10, the main sale on June 12, 2018. An early bird bonus of 10% will be made available to early participants.
DISCLAIMER: TUT public sale will not be open to citizens, residents or green card holders of the USA (including Puerto Rico, US Virgin Islands, and any other protectorate of the USA) or other representatives of the USA
For more information or to participate in the ICO, head to www.cryptonomos.com!
This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
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Controversial token Tether generated $250 million new coins, with long-standing questions resurfacing
Thailand and Ukraine move forward with positive crypto regulation, Bing spreads FUD with news of summer crypto ad ban, and more ups and downs of the week all found in this week’s Hodler’s Digest
Blockchain exploration service Blockchair has launched a new analytics tool. Blockchair Feed decodes the messages that are written into the BCH, BTC, and ETH networks. The results can be viewed in a real-time feed comprised of messages that range from the banal to the enigmatic.
Feast on a Banquet of Messages with Blockchair Feed
Blockchain explorer Blockchair is widely used by the bitcoin cash and core communities for searching for transactions and checking data pertaining to market prices, dominance, and network performance. It’s also one of the few blockchain explorers that enables users to search for specific words or phrases hidden in transactions. Its latest tool goes a step further and decodes these messages in realtime as they are published on each of the three blockchains.
Blockchair Feed provides a fascinating and occasionally bizarre glimpse into the conversations that people are having, sometimes with specific people, and sometimes with the world at large, via their favorite blockchain. Most of the messages that can be viewed in the feed come from the BCH network. That’s largely thanks to the success of micro-blogging social networks such as Memo and Blockpress. Each of these capitalizes on the low fees of bitcoin cash, making it practical to message other users via the OP_Return field. Thanks to the recent upgrade to the BCH network, the size of this field has increased, giving rise to even more possibilities for onchain communication.
Of the two social networks, Blockpress has the cleaner UI which is reminiscent of Twitter. After creating a profile, header, and username, users can dispatch short messages that include emojis. Judging by the spate of messages appearing in the Blockchair Feed, however, Memo is the busier of the BCH social networks at present. As previously reported by news.Bitcoin.com, people have been encoding messages in blockchains for years. The BTC blockchain, for example, contains six marriage proposals. Now, thanks to the rise of tools such as Blockchair Feed, coupled with services like Memo and Blockpress, reading those messages – and even replying to them – has gotten a lot easier.
Have you tried using Blockpress or Memo yet and if so what are your thoughts on these services? Let us know in the comments section below.
Images courtesy of Shutterstock, and Blockchair Feed.
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The post Blockchair Feed Reveals Messages Encoded in the BCH, BTC and ETH Blockchains appeared first on Bitcoin News.
Although the market is positive overall, at the time of writing, the sentiment is quite negative. Maybe due to the high expectations over Consensus, which did not create that much demand over bitcoin, at least not as much as it happened during previous years. I understand it’s your money that is at stake and the
Fundstrat’s Tom Lee admits that his Consensus BTC rally prediction ‘did not happen,’ but still expects Bitcoin to reach $25k by year end