Bitcoin Roundup April 8, 2016


Bitcoin Hard Forks May Become Safer With User Voting | Bitcoin Magazine

Up to this point, the main way to judge support for a change to Bitcoin’s consensus rules has been miner voting. Miners are able to broadcast support for changes to the Bitcoin protocol via coinbase transactions, and these messages of support are tabulated in an effort to judge the level of support among those who are theoretically incentivized to support the network. 


The New Bitcoin Myth – The Atlantic

Something strange is happening to Bitcoin. Once viewed as a way to do business in the darkest corners of the web, the digital currency has rather suddenly become a favorite talking point among humanitarians and international development enthusiasts.

Bitcoin isn’t just for illicit transactions or Internet hobbyists anymore, but for helping the poor, the downtrodden, and the unbanked. 


Replacing Bitcoin Transactions: Community Responses to Opt-In Replace-By-Fee – NASDAQ.com

A new addition to Bitcoin Core called Opt-In Replace-by-Fee allows transactions to be flagged as replaceable, and actually replaced, until the transaction gets confirmed in the next block.

Opt-In RBF is a change to the memory pool and network relay code and gives wallets the option to add a signal to transactions that gives permission for full nodes to update the particular transaction. Bitcoin creator Satoshi Nakamoto introduced transaction replacement in his initial release of the Bitcoin Software, but removed it due to denial of service problems, which opt-in RBF solves by adding a higher fee for transaction replacement. 


New Brave browser will pay users Bitcoin to view advertising | SiliconANGLE

Would you like to be paid Bitcoin to view advertising while browsing the web?

If the answer is either yes or you’ve never thought about it before but it sounds like a great idea, you’re going to like the Brave browser (Brave Software, Inc.), a new browser set to launch in May that will do exactly that.

First announced in January and being built by former Mozilla Foundation (Firefox) Chief Executive Officer Brendan Eich, Brave is a web browser built for Windows, Mac, Linux, iOS, and Android that comes with ad blocking built in, but in a twist will give users the option to replace ads with ads from its own network, and will pay those who opt to see these ads in Bitcoin for the privilege.

The replacement ads are promised to be non-intrusive, speedier to load, and for those worried about their privacy, do not include tracking features. 


Circle’s Future Looks Like Less Bitcoin And More Banking – BuzzFeed News

After Circle publicly launched, it was hailed as the company that would bring the mysterious digital currency Bitcoin to the masses. With $76 million in venture capital and a CEO from the Yahoo-acquired streaming video service Brightcove, the company looked set to capitalize on public interest Bitcoin — not to mention the media frenzy over it. Circle’s initial service was transferring bitcoin from person to person and then converting it to cash that could be held in normal bank accounts.

But last week, when BuzzFeed News spent almost an hour talking to Circle founder Jeremy Allaire about what the company is up to these days, it took real effort to get the word “bitcoin” out of him. He spent much more time talking about the company’s currency trading operation. 


Bitcoin Core Announces Sponsorship Programme To Fund Development – EconoTimes

Bitcoin Core, an open source project which maintains and releases Bitcoin client software called “Bitcoin Core”, has announced the launch of a new sponsorship programme, aiming to increase the involvement of the Bitcoin industry in the project.

“The Bitcoin Core Sponsorship Programme provides a way for the Bitcoin industry to fund independent research and development of Bitcoin Core, by funding developers, developer projects, or otherwise providing resources to the project. The programme is tailored for larger industry participants and at this time, we have no mechanism for taking smaller donations”, the sponsorship page reads.

The Bitcoin Core project has a suggested list of projects that require funding, and sponsors are also able to suggest their own. This includes general projects such as internships for new developers, documentation, infrastructure, education materials, and others; as well as technical projects such as IBLT, Flexicap blocksize, relay network maintenance and others. 


Who Funds Bitcoin Core Development? How the Industry Supports Bitcoin’s ‘Reference Client’ | Bitcoin Magazine

While the Bitcoin industry collectively has raised more than a billion dollars worth of investment over the past years, development of the Free and Open Source Software the industry largely relies on has always had trouble gathering sufficient funds and manpower for development. Several arrangements to raise funds have been tried over the years – but with varying degrees of success and longevity.

Bitcoin Core, considered by many to be Bitcoin’s “reference client,” therefore, announced a “Sponsorship Programme” earlier this week. As the latest effort to raise funds, this program is intended to be an easy access-point for companies and other Bitcoin industry players to support Bitcoin Core developers and projects. Companies that decide to take part in the sponsorship program will join a, so-far, short list of entities that do already help fund Bitcoin Core development.

These are the main sources of funding as it currently stands: 


Bitcoin’s Blockchain Technology Proves Itself in Wall Street Test – NASDAQ.com

Banks including J.P. Morgan Chase & Co. and Citigroup Inc. have successfully tested the record-keeping technology behind bitcoin on credit-default swaps, a move that could help it gain a foothold in mainstream finance.

The swaps are essentially insurance contracts that pay off if a bond goes bad, and the process of keeping track of the over-the-counter products can be a burden. Banks match buyers and sellers, transmit the trades via a service run by data provider Markit Ltd. and send a record to Wall Street’s central bookkeeper, Depository Trust & Clearing Corp.

DTCC will now discuss whether the results are strong enough to warrant using the technology for live trades or across a broader swath of credit-default swaps, a market with trillions of dollars in outstanding contracts. 


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