Tag Archives: ecurrency

ecurrency

Bitcoin Vs. Gold – How Bitcoin Could Take Over a Trillion $ Market

This is the third video in our series called “Bitcoin as a Disruptor”.  Is it possible that even gold could be challenged by Bitcoin ?

Source: World Bitcoin Network

We look at five features where Bitcoin’s inherent features could take over five different trillion dollar markets.

The video starts with the misconception many people have with the idea of intrinsic value. It turns out that Bitcoin is laden with amazing values, all ‘inherently’ intrinsic.

Geir Solem
Cryptor Trust Inc.

Bitcoin, Bankers Worst Fear

This is the second video in our series called “Bitcoin as a Disruptor”. Bitcoin will change the society and the economic playing field. Who is at risk ?

Source: VisionVictory

Banks are at risk !

Banks charge a lot of money for a simple money transfer,  banks put more and more restrictions on their clients use of their own money, behaving like they are you parents, etc.

The question is can the banks continue with this kind of behavior in the future?

Geir Solem
Cryptor Trust Inc.

Could Bitcoin be as transformational as the World Wide Web ?

This is the first video in our series called “Bitcoin as a Disruptor”. Learn how Bitcoin will change the economy and level the playing field.

Source:  IBM Banking

Bitcoin is going main stream globally, and Bitcoin focused start-ups are accessing venture capital, and industry commentators talk about it as an important international payment mechanism of the future.

In this video, Richard Brown, IBM Executive Architect for Banking and Financial Markets Industry Innovation, argues that Bitcoin’s true significance lies in its potential as a global digital asset register and in the lessons it teaches us for design of complex distributed systems.

He also explains why recent law enforcement action against operators of illegal websites that transacted in Bitcoin will help accelerate adoption by legitimate businesses.”

Geir Solem
Cryptor Trust Inc.

Get Familiar with Bitcoin Wallets

Bitcoin wallets are the key tool to start using the digital currency. Read this straight forward overview about (1) types of wallets, (2) best wallet services and (3) basic tips to better manage your wallet.

Bitcoin_wallet
Equipment for money transfer. Caricature by O. Schmerling in 1906.

> First of all, What is a Bitcoin Wallet?

A bitcoin wallet it’s like your physical wallet or your bank account (without all the paper work) but for the BTC network. It allows you to store, manage and control your transactions. Once created, the wallet generates two keys, one public, and one private. The public key or “address” is used to receive payments (or donations), and send payments. The private key (composed of fifty-one alphanumeric characters, starting with “5”)  guarantees that you have the right to use the bitcoins in that wallet. Important: never reveal this piece of data!

> Types of Bitcoin Wallets

There are two types: software and web wallets. Software wallets can be installed on your own computer or mobile device, providing you with a certain level of autonomy since you are the only responsible of keeping it safe. On the other hand, web wallets are hosted by a third party company. In this case you need to trust that they are doing their homework at keeping high security standards to protect users’ assets.

You can check Coinbase, Blockchain, Armory, Bitcoin-Qt and Electrum as good options in the market.

The tools mentioned above are supposed to provide a high level of security, which is recommended for investors adopting the usage of the digital currency. Learn how bitcoin transactions work (internal link) here!

> Recommendations for New Bitcoiners

Creating your first wallet is fairly easy and fast. Here are some key points that you should consider upfront:

1- Choose a password that contains letters, numbers, and symbols (#, %, $, @) to make it as strong as possible.

2- Don’t keep your private key and password data saved on any document on your computer, email client or web based third party apps you may use.

3- Web wallets are more vulnerable to attacks. We recommend a software wallet.

4- Create more than one address to manage your transactions and have specific purposes for each, say “Investments”, “Shopping”, “Savings”.

5- Learn more about how to generate a paper wallet to better protect your assets.

Maximiliano Garcia
Cryptor Trust Inc.

What is Bitcoin ?

The Khan Academy’s video “What is Bitcoin”  is the second video we recommend if you want to learn more about the basics of this crypto currency.

More on the basics of bitcoin by Zulfikar Ramzan.

Zulfikar Ramzan is a world leading expert in computer security and cryptography and is currently the Chief Scientist at Sourcefire. He received his Ph.D. in computer science from MIT.

Geir Solem
Cryptor Trust Inc.

Bitcoin Overview

The Khan Academy’s video “Overview of Bitcoin” is a good place to start if you want a quick introduction to this crypto currency.

An introduction to the mechanics of bitcoin and an overview of how transactions take place by Zulfikar Ramzan.

Zulfikar Ramzan is a world leading expert in computer security and cryptography and is currently the Chief Scientist at Sourcefire. He received his Ph.D. in computer science from MIT.

Geir Solem
Cryptor Trust Inc.