Nick Szabo Developed a Method of Sending Bitcoin Transactions Over Radio

At the Scaling Bitcoin Conference held at Stanford University, Bitcoin pioneer Nick Szabo and former Stanford engineer Elaine Ou introduced a working method of securely sending Bitcoin transactions over radio signals.

Earlier this week, Jameson Lopp, the lead engineer at BitGo and prominent Bitcoin developer, revealed that the presentation of Szabo entailed their successful tests of sending Bitcoin transactions using weak signal HF radio, by operating a Bitcoin SPV client.

Similar to the Bitcoin satellite transaction broadcasting technology developed by Blockstream, the settlement of Bitcoin transactions through HF radio signals can be more inefficient in comparison to processing Bitcoin transactions normally, over the internet. However, one advantage of using radio signals and Bitcoin satellites to settle transactions is its ability to reduce censorship and circumvent internet restrictions to send and receive Bitcoin.

In August, Blockstream, a blockchain and Bitcoin development firm, introduced the Bitcoin satellite technology with a shared vision of eliminating censorship and internet resistance in using Bitcoin as a store of value and a digital currency.

Adam Back, the CEO of Blockstream, stated:

“ Bitcoin is a powerful and transformative internet native digital money that has blazed a trail of disruption, with its full potential yet to unfold. Because it's permission less, Bitcoin enables anyone to freely create new financial applications and other innovations that use the Blockchain that haven't been possible before. With more users accessing the Bitcoin Blockchain with the free broadcast from Blockstream Satellite, we expect the global reach to drive more adoption and use cases for Bitcoin, while strengthening the overall robustness of the network.”

Over the past 12 months, an increasing number of governments, authorities, and countries have started to fully regulate Bitcoin as a legitimate currency. Countries like Japan went as far as to declare Bitcoin as a legal currency, encouraging the usage of Bitcoin for payments.

But, inevitably, in the mid-term prior to the global mainstream adoption of Bitcoin, a few countries could attempt to restrict the usage of Bitcoin by imposing restrictions on internet service providers to limit Bitcoin transactions. In such cases, the presence of Szabo’s Bitcoin radio transaction settlement technology and Blockstream’s Bitcoin satellite system would enable users to freely send and receive Bitcoin, circumventing government restrictions with ease.

Japanese Bitcoin Mining Just Became More Attractive

About five or six years ago, it was possible to profitably mine Bitcoin using nothing more than a desktop PC. Fast forward to today, and profitability requires huge amounts of hash power and, in turn, a considerable amount of electricity. Of course, unless this electricity is cheap, profitability is difficult to achieve. This has led to markets searching for the most efficient (from a price perspective) regions globally to set up their mining operations.

Historically, China has been a popular choice as have some areas of Eastern Europe

Now, however, the latest region to enter the fray is Japan.

Specifically, a region in northern Japan where the climate is ideally suited to this sorof mining activity.

The region in question is called Kazuno City and it has a population of approximately 32,000. It is located on a mountainous northern prefecture on Japan’s primary island called the Akita Prefecture.

Here's what Japan Today said about the climate:

“The average yearly temperature of Kazuno City is low, probably contributing to improving the heat exhausting/cooling effects to deal with the heat generated by computers for mining… The city has an abundance of renewable energy including geothermal, hydroelectric and wind powers, and its self-sufficiency rate of electricity exceeds 300%.”

According to reports, one company is already making plans to set up an operation in the regionand expectations are that many more will follow, lured in by the potential profits rooted in cheap electricity and a cryptocurrency friendly government environment.

The company in question is called Miner Garage. According to, again, Japan Today:

“At the mining center, 600 computers will be installed at first, and they are expected to realize a mining business worth about 300 million yen per year by dealing with about 10 kinds of virtual currencies such as Bitcoin.”

This is just one of many positive developments out of Japan surrounding the cryptocurrency space and it further reinforces the country's efforts to establish a leadership position in this sector.

Goldman Sachs thinks Bitcoin could soon be worth nearly $8,000

Bitcoin’s star seems destined to continue to rise. It has grown more than 500%in this year alone, with no sign  that trend will be abating anytime soon. It also seems to be gaining traction outside of the crypto industry, with investors hoping to catch a ride on the Bitcoin express.

Hoping to facilitate this, CME, the world’s largest exchange, recently announced their plans to launch a Bitcoin futures contract later this year. This will allow for more people to invest in the currency as they will not require an actual Bitcoin to profit from it.

Following this announcement, Bitcoin reached a record high of $7,601.53 over this weekend. After dipping below $7,000 on Sunday, it was trading $7,092 by Monday.

Goldman Sachs predicts that it will continue its upward trend to be within touching distance of the $8,000 mark

“The market has shown evidence of an impulsive rally since breaking above $6,044,” Sheba Jafari, vice president on the bank's FICC Market Strats team, said on Sunday.

“Next in focus, $7,941. It might consolidate there before continuing higher,” she added.

In August this year, Jafari stated that the currency was riding the fifth and final wave, based on the Elliot Wave theory, of an “impulsive” rally with estimates that it would reach a high of $4,827 before dropping to less than half of that at $2,221.

The currency did indeed increase after that to reach $5,013 in the beginning of September. However, as China began its aggressive crackdown on digital currencies that month, Bitcoin dropped to $2,951. Jafari has now said that if Bitcoin does in fact reach a price of $7,941, it would mark the third of “five-waves up” for the currency.

In addition to being supported by CME, Japanese investors have also shown an increase in the demand of Bitcoin. Trade in the currency in Japanese yen accounts for approximately 60% of the trading volume.

The introduction of these Bitcoin futures contracts will greatly increase the currency’s investment potential. Becauseit will be based on speculation rather than purchasing the actual currency, this will eliminate counterparty risk as well as reducing the risk associated with the volatile and unpredictable crypto market. In addition, these futures might pave the way for Bitcoin ETFs sooner rather than later.

So even though Bitcoin has dropped $600 from its record high, there is still belief from one of the biggest financial institutions that there are definitely more highs for Bitcoin to chase, and ultimately reach.

How Anti-Bitcoin Saudi Prince Could Have Prevented Billions of Dollars Being Frozen

How Anti-Bitcoin Saudi Prince Could Have Prevented Billions of Dollars Being Frozen

On the RT’s Keiser Report, highly regarded financial analyst Max Keiser revealed that billionaire Prince Alwaleed Bin Talal, who harshly criticized Bitcoin in the past, could ironically have prevent the loss of his fortune with bitcore.in.

Prior to his arrest on various charges including corruption and money laundering, Talal criticized Bitcoin, stating that a bubble is forming and that it is a new “Enron in the making.”

On the Keiser Report, Max Keiser explained that after a strange series of events, Bitcoin could have protected the assets and wealth of Talal from the Saudi police and the government, given its decentralized structure and immutable nature.

“He [Talal] said bitcoin was no good because there is no central government and no central bank. And then a week later, the central bank and the central government rips out all of his net worth. If he had them in Bitcoin, he wouldn’t have that problem. He is like a poster child for why you should buy bitcoin. Anyone who is thinking about should I buy bitcoin, look at [Talal] sleeping on a mattress of a rich hotel under house arrest. Furthermore, he is overrated as a money manager,” said Keiser.


Since the beginning of 2016, the price of Bitcoin has been on the rise for the particular reason Keiser mentioned on the Keiser Report. Investors and traders have started to seek for assets and safe haven assets that are transportable, liquid, and most importantly, unseizable. Any asset, currency, or store of value that is physical can be confiscated and seized by the government, as seen in the recent case of Talal.

One of the Bitcoin’s major advantages over fiat currencies and traditional safe haven assets like gold is that it eliminates power from authorities, because governments are limited to what they regulate within the global Bitcoin and Cryptocurrency markets.

For instance, the Chinese government recently imposed a ban on Cryptocurrency trading. But, reports suggest that the demand for Bitcoin and other Cryptocurrencies have consistently increased even with the trading ban in place, as traders migrated to over-the-counter (OTC) and peer-to-peer (P2P0 in regions like Japan and Hong Kong to invest in Bitcoin.

OKCoin and Huobi, two of the largest Bitcoin exchanges in China that recently halted their services within China, reallocated their headquarters to Hong Kong and are currently considering launching over-the-counter trading platforms for both Hong Kong and Chinese traders.

In the case of Talal, the Saudi police and the government would have not been able to seize his assets if his wealth was stored in Bitcoin, and would have not been able to estimate his net worth to begin with. Such privacy is important and necessary to any investor, trader, business, and individual.

I MUST STOP NNAMDI KALU-BIAFRA IS A SCAM. SIM PRESIDENT SPEAKS LOUD

The National coordinator of SPEAK ISLAM MOVEMENT[SIM] Engr. Mubarak made it clear yesterday in Abuja that he must stop Nnamdi Kalu the IPOB Leader because he is not bringing peace among the people of the country and his intention to stand Biafra is a scam. He further exposed the secret of the IPOB leader and his religious secret intentions to convert all the Biafra supporting states into Judaism para-venture he succeeds.

This is not known to most of his followers especially the Christians in the location, loosing their lives and property for what they don't know.

I cannot be here and sit and watch mess continuously happening. I must stop him and save my people from the hatred they are busy orienting them with. I speak for one Nation Nigeria.

I must stop Nnamdi Kanu and Biafra is a Scam.

Engr Mubarak said he must make sure that he uses all possible resources to stop him and maintain peace among the people of Nigeria.

There is no peace among the tribe Ibos among their fellow Nigerians simply because of one man. He must be stopped now so that our country Nigeria will be favorable for all of us. Over looking and keeping silent and watch one man spoil the unity of this nation cannot work as long as I live. I stand for the unity and peace of my dear country Nigeria. Being a part of history is not my concern.

It's quite a pity that this man is such a wicked fellow for using most illiterates and jobless youths and some blind unexposed rich individuals to execute his scam and wicked barbaric intention.

Someone out there may wonder and ask who is Engr. Mubarak but now is not the time to know but those that knows him knows where he comes from.

In our dear country today Ibos are spotted on a b black list and the image is currently undergoing some structuring, why will Nnamdi Kalu raise the dust again? If no one is ready to stop him, I am out to successfully put an end to the mess the man is causing presently among the Ibos of Nigeria.

I encourage Nnamdi Kaluto embrace the right turn of the road by by applying his wonderful agenda if he is sincere enough and not being seen as a threat to the government..

Judaism as his main and major interest should be done in a peaceful religious ethics and not scamming the foolish ones. He should be bold and strong to present his religious intentions to them.

In Nigeria today, we have only 2 major religion  which are Christianity and Islamic Religion and if a true Nigerian that lives in Nigeria can tell you the status of religion in the country today.

He can practice his religion but he cannot deceive Ibos into his religion by using a scam template ''BIAFRA'' or IPOB Indigenous People Of Biafra and very soon their inner eyes will open to Adopted People Of Jews''AIPOJ''

IF YOU ARE A WELL MEANING Nigeria, THIS EFFORT IS FOR YOU AND ME.


Reported from SIM Headquarters Abuja.

Where does Vanderbilt's foul rank among all-time worst March Madness blunders?

The highlight of the first day of the 2017 NCAA tournament was Northwestern’s first-ever tournament win. But the Wildcats’ victory was possible only because of one of the biggest gaffes in March Madness history.

Up one with around 15 seconds left, Vanderbilt’s Matthew Fisher-Davis fouled Northwestern’s Bryant McIntosh. McIntosh went to the line, sunk two free throws and the Wildcats pulled out the win. Fisher-Davis, who thought his Commodores were down one, later admitted it was a “dumb-ass foul.”

The foul is far from the most costly blunder in NCAA tournament history, but it is up there with some of the worst. Here’s a look at the top six boneheaded plays over the years:

The world's fastest growing religion? Islam

 Islam is the world's fastest growing religion - and not just in Muslim majority nations: 10% of all Europeans are projected to be members of the Muslim faith by 2050, according to a recent Pew Research Center study.
The study estimates that from 2010 to 2050, Muslims will have increased across the world by 73%, followed by Christians who are projected to grow by 35% during the same time period, and Hindus at 34%.
That means that Islam -- currently the world's second-largest religion -- will surpass Christianity as the world's biggest religion by the end of the century, the study projects.

 Why? Muslim women have more children, on average -- 3.1 children compared to 2.3 for all other religious groups combined, Pew says. Also, those of the Muslim faith tend to be, on average, seven years younger than non-Muslims.
There's not a whole lot new in the findings from what Pew reported in 2015. This year's annual survey also sheds light on how Muslims are perceived around the world, including American views on Islam today compared to 2002 by political party. The study finds the people they surveyed who lean Republican had a more negative view of Muslims in the United States than in 2002, a year after the 9/11 attacks, while the opposite was true for those who lean Democrat.
 

The status of Muslims in the United States has been front and center with President Donald Trump's travel ban against six Muslim-majority countries being temporarily blocked by two federal judges. They cited Trump's statements about Muslims during his campaign for president as part of their rulings.
Last year, Trump told CNN's Anderson Cooper: "I think Islam hates us."
The new ban was announced earlier this month and was set to take effect Thursday. It would have banned people from Iran, Libya, Somalia, Sudan, Syria, and Yemen from entering the US for 90 days and all refugees for 120 days

Top Kremlin diplomat calls US uproar over Russia ties a 'witch hunt'

Russia's foreign minister pushed back Friday at assertions that his country's US ambassador is a spy, and echoed US President Donald Trump's contention that the controversy over contacts between Kremlin officials and Trump's campaign is "a witch hunt."

"The ambassadors are appointed in order to maintain relationships," Russian Foreign Minister Sergey Lavrov said at a press conference in Moscow.

"They are maintained by holding meetings, talks and establishing contacts with officials from both executive and legislative branches of power. I can only quote what the media said today -- this all looks like a witch hunt."

 

 

Citing current and former senior US government officials CNN reported that Kislyak is considered by US intelligence to be one of Russia's top spies and spy recruiters in Washington.

But Russia's Foreign Ministry has angrily rejected allegations that its top diplomat in Washington is a spy amid controversy over meetings he held with US Attorney General Jeff Sessions.

Russian Foreign Ministry spokeswoman Maria Zakharova on Thursday insisted Kislyak was "a well-known, world-class diplomat."

"He was deputy minister of foreign affairs in Russia, who has communicated with American colleagues for decades in different fields, and CNN accused him of being a Russian spy ... of recruiting? Oh my God!"

Deputy Attorney General Sally Yates was dismissed by President Donald Trump Monday evening

Dana Boente, who Trump appointed to succeed Yates as acting attorney general, rescinded Yates' guidance and instructed the Justice Department to "defend the lawful orders of our president."

Democrats reacted with outrage to the night's dramatic events, warning that it called into question the independence of the Justice Department in the Trump administration.

"Trump has commenced a course of conduct that is Nixonian in its design and execution and threatens the long-vaunted independence of DOJ," Michigan Democratic Rep. John Conyers tweeted. "If dedicated gov officials deem his directives to be unlawful & unconstitutional, he will simply fire them as if gov is a reality show."

But Trump's former GOP rival, Sen. Ted Cruz, jumped to the President's defense.

"After eight long years of a lawless Obama Department of Justice, it is fitting--and sad--that the very last act of the Obama DOJ is for the Acting AG to defy the newly elected President, refuse to enforce the law, and force the President to fire her," Cruz said in a statement.

Yates was fired as the administration was still recovering from the fury surrounding Trump's hardline immigration measures, including stinging criticism from some congressional Republicans who said the administration's process was far from smooth.

"They know it could've been done in a better way and my guess is they're going to try to clean it up," Senate Foreign Relations Committee Chairman Bob Corker, a Tennessee Republican, told reporters. "They probably learned that communication and the inter-agency process would probably be helpful."

Donald Trump's early crisis

Breaking News: President Donald Trump begins his 11th day in office shrouded in crisis, roundly criticized for a chaotic unveiling of immigration measures and under new scrutiny after he fired the nation's top law enforcement officer who refused to enforce them.

On an extraordinary night of political drama Monday, the President dismissed acting attorney general Sally Yates by letter after she instructed the Justice Department not to defend Trump's immigration order, which bans travelers from seven Muslim-majority nations and temporarily halts refugee arrivals.

Who is Sally Yates?

Yates was a remnant of the Obama administration, only in office until the Senate confirms Jeff Sessions as the next attorney general. But her dismissal reflected the sudden political forces unleashed in Washington in the early days of the Trump administration as the President seeks to impose his authority on the federal government and shows little patience for those who would block him from implementing core campaign pledges.

The dramatic move came soon after CNN reported Yates told Justice Department lawyers not to make legal arguments defending Trump's executive order on immigration and refugees.

"(Yates) has betrayed the Department of Justice," the White House statement said.

Lawyers for 2 Iraqis file lawsuit after being detained in NY due to travel ban

Developing story - Washington. Lawyers for two Iraqis who had been granted visas to enter the US have filed a lawsuit against President Donald Trump and the US government after they were detained when they arrived in New York Friday.
According to court papers, both men legally were allowed to come into the US but were detained because of the executive order signed Friday. Under that order, Iraqi citizens are not allowed to come into the US for 90 days. The lawyers are asking for a hearing because they maintain the detention is illegal because the men had valid visas.

Lawyers for the Iraqis are aiming to file a class-action lawsuit on behalf of other refugees.
The lawsuit was earlier reported by The New York Times.