Bitcoin plattform

Bitcore is a full bitcoin node — your apps run directly on the peer-to-peer network. For wallet application development, additional indexes have been added into Bitcoin for querying address balances, transaction history, and unspent outputs.

Open Source

Bitcore is 100% open source, powered by the time-tested and battle-hardened Bitcore Library.

Apps built on Bitcore benefit from the extensive testing and review of dozens of bitcoin companies and community contributors.

Full-Featured & Extensible

Bitcore provides a powerful blockchain API and the Insight blockchain explorer, right out of the box.

A modular, service-based architecture makes Bitcore a perfect platform for enterprise applications.

Built on Bitcoind

To build reliable bitcoin and blockchain-based applications, compatibility with Bitcoin is essential.

Bitcore uses the source code of Bitcoin directly, so accidental chain forks are a thing of the past.

Learn more about Bitcore with one of our guides or Bitcore development tutorials.

Dive into the full API documentation. Bitcore provides an extensive blockchain API right out of the box, and can be extended with dozens of modules and services.

Built on Bitcore

Bitcore™ © BitPay, Inc. Bitcore is released under the MIT license.

2018 Best Bitcoin exchange Review and Comparison

This page aggregates the most reputable Bitcoin exchanges around today and compares them according to important buying factors. The list below is a general summary and more detailed reviews can be found at the bottom of the page.

compare exchanges

LocalBitcoins

247Exchange

New to buying Bitcoin? here’s what you need to know before choosing an exchange:

Coinbase Bitcoin exchange review

Cons: Not available worldwide, Support takes time to respond

Summary: Coinbase is probably the most popular company today for buying Bitcoins. It was founded in late 2012 as a part of Y-Combinator and until today has raised more than $106 million in venture capital. Coinbase is considered by many the leading Bitcoin exchange available.

The are two ways you can buy Bitcoins from Coinbase. One is through the Coinbase wallet and the other is through the Coinbase exchange. When you buy Bitcoins through the Coinbase wallet you are basically buying the Bitcoins from Coinbase itself, whereas when you use the exchange you are participating in a trading with other users of the exchange.

CoinMama Bitcoin exchange review

Pros: Accept credit cards, Fast transaction time, great user interface.

Cons: Relatively high exchange rate, limited states within the US.

Summary: Coinmama is a another veteran Bitcoin broker working in the market since 2013. They offer easy ways to buy Bitcoins with credit cards or cash deposits via MoneyGram and Western Union. Coinmama uses Simplex – a credit processor which allows you to buy up to $5000 in one purchase. Coinmama also has relatively high exchange rates due to chargeback issues and the availability of credit and debit cards as payment methods.

CEX.IO Bitcoin exchange review

Pros: Reputable company, high buying limits

Cons: Limited countries available, higher exchange rates

Summary: CEX.IO was established in 2013. CEX.IO is a bitcoin trading exchange which accepts credit cards and allows you to trade. On Cex.io You can buy Bitcoins for USD, EUR and RUB.

BitFinex Bitcoin exchange review

Pros: Advanced trading features, leverage abilities

Cons: Does not accept fiat deposits, complex interface

Bitfinex is an advanced Bitcoin trading platform that is more suitable for experienced traders. The platform does not accept fiat deposits at the moment which means you’ll need to fund your account with altcoins or Bitcoin.

If you’re an experienced cryptocurrency trader, Bitfinex likely offers everything you need and more. The chief draw is probably the platform’s high Bitcoin and Ethereum liquidity, but its margin funding, leverage, and multiple order types offer a lot of flexibility.

Coinhouse Bitcoin exchange review

Pros: Reputable company, high buying limits

Cons: Limited to Eurozone countries only, relatively higher exchange rates

Summary: Coinhouse is the “House of Bitcoin” in Paris. You can buy bitcoins directly online by Visa / MasterCard or cash with Neosurf prepaid card available in most European countries.

Buy Bitcoins on Coinhouse Read our Coinhouse review

BitPanda Bitcoin exchange review

Pros: Multiple payment options, relatively low fees

Cons: Fees are hidden inside the exchange rate, EU citiznes only

Overall rating: B

Bitpanda is an Austrian Start-Up Company that was founded in October 2014. The company allows you to buy Bitcoins or Ethereum with a credit card as well as with Wire transfers, Neteller, Skrill, SEPA and more. The company supplies its services to European countries only with a relatively low fee.

If your account is verified the limit is 2,500€ daily (75,000€ monthly) for credit card purchases. For other options, there’s a 10,000€ daily (300,000€ monthly).

Bitstamp Bitcoin exchange review

Pros: Highly respected and reliable exchange, low transaction fees.

Cons: Not suited for beginners, limited payment methods, high deposit fees on small amounts of money.

Summary: Bitstamp is the oldest Bitcoin exchange out there today. Founded on 2011 Bitstamp has managed to survive most of the Bitcoin ecosystem’s turmoil without being hacked or shut down, and that’s definitely saying something.

If it wasn’t for it’s non intuitive user interface and lack of convenient payment methods Bitstamp may have been rated #1 in our charts. But unfortunately today I can only recommend Bitstamp for larger purchases of coins where you will definitely need to use a wire transfer and the fees won’t compose such a large amount of the deposited sum.

Kraken Bitcoin exchange review

Pros: Highly respected and reliable exchange, low transaction fees.

Cons: Not suited for beginners, limited payment methods, high deposit fees on small amounts of money.

Summary: Another Bitcoin exchange veteran, Kraken was also founded in 2011 like Bitstamp and managed to stay alive until today. Kraken is consistently rated as a top Bitcoin exchange by different news outlets and was also the first Bitcoin exchange listed on Bloomberg terminals. Kraken is also trusted by hundreds of the Tokyo government and the BaFin regulated Fidor Bank.

Kraken is pretty similar to Bitstamp in its pros and cons and are almost identical when coming to decide which on of them to use.

iGot Bitcoin exchange review

Pros: Super low fees, great interface.

Cons: Limited payment options, relatively high exchange rate.

Summary: iGot was founded in 2013 in Australia, it provides a trading platform and also merchant payment services for Bitcoin. It has super low fees but also supplies on a limited range of payment methods.

The exchange was also behind the relief campaign for Nepal earthquake victims earlier this year. Having said that, iGot has yet to gain enough reputation as a major player in the Bitcoin exchange market.

HitBTC Bitcoin exchange review

Pros: Beginner friendly, great buying experience.

Cons: High exchange rate, brand not reputable enough.

Summary: I’ve reviewed HitBTC last year and was pretty pleased with their product. The company seems to have a solid user interface making it pretty easy to buy Bitcoins. Also the platform seems to be very “newbie oriented” and puts an emphasis on security.

Although HitBTC gained considerable traction over the past year since it’s launch, much like iGot it still hasn’t managed to reach the “big leagues” of Bitcoin exchange (i.e. Coinbase, Circle, Bitstamp etc.)

Virwox Bitcoin exchange review

Pros: A wide variety of payment methods including Paypal and credit cards, no verification required

Cons: Shady reputation, very high fees when buying with Paypal or a credit cards (due to multiple conversions).

Summary: Virwox is not a Bitcoin exchange per se. It’s actually a Second Life reseller which allow you to exchange SLL (Second Life Linden’s) in to Bitcoins. So why is it listed here? Because currently it’s the only known exchange in which you can buy Bitcoins with PayPal.

The issue with Virwox is that even though it supplies various payment methods many users have complained about their services. Some have even reported that their money was taken with no return. However most of the reviews tend to show that either the purchase of Bitcoins was successful or that the money was refunded.

247Exchange Bitcoin exchange review

Pros: Easy user interface, works worldwide and multilingual.

Cons: Buying process is too long (mainly due to verification), the service takes a premium in order to be able to deal with chargeback issues.

Summary: 247Exchange is a veteran player in the Bitcoin ecosystem which allows you to buy Bitcoins with a credit card in a simple and secure manner. Unfortunately their buying process still has a few glitches and the verification process can take quite some time. I recently reviewed the service hands on, you can read about it here.

Bittrex Bitcoin Exchange Review

Pros: Smooth, easy to understand interface, top-notch security, 250+ altcoins

Cons: Slightly high fees, poor customer service, odd account suspensions

Bittrex provides a growing cryptocurrency exchange that suits investors looking for a large altcoin selection. The US company launched in 2014 and is now one of the leading trading platforms.

Its reputation is built upon a smooth user experience combined with unparalleled security. The interface is simple to understand allowing users to easily expand their portfolios with access to over 250 coins. Bittrex has a crack squad of security experts keeping funds safe. The team currently maintain a clean record in fighting off hacks and attacks.

Luno Bitcoin Exchange Review

Pros: Good reputation, happy reviews, well-run platform.

Cons: bitcoin only, fluctuating fees, small market cap

Luno enjoys a marvelous reputation with an array of happy users. It doesn’t have a huge trading cap but it performs its duties admirably against the big boys. Despite being in operation since 2013 the Luno team still struggle to secure serious market dominance.

Solely a bitcoin exchange the platform is aiming to become the “most trusted, secure and reliable exchange”. Users can buy, sell and store bitcoin with service including the use of wallet and mobile features. The one downside is the fees, which can be a little tricky to work out for new buyers. Overall, it is a solid well run service.

Indacoin Exchange Review

Pros: Convenient simple way to buy bitcoin

Cons: Extortionate fees, low buy limits

Indacoin has been around since 2014 target customers looking for fast easy bitcoin buys. It functions as a way for you to buy bitcoins with a credit or debit card. Simply fill out a payment form then confirm via a telephone message and voila, you’ll have bitcoin funds.

There are some downsides to transacting in this manner. Fees are astronomical anywhere you make a credit card transaction and none more so than Indacoin. Users really do pay a price for convenience. There are buy limits to be aware of with a maximum of $750. That being said, the service does do what it says in a legitimate manner.

Bitbay Exchange Review

Pros: Decent currency support, Less known to hackers, acceptable fees

Cons: Small market cap, Unknow quantity, still building a reputation.

Bitbay is another interesting cryptocurrency exchange competitor. The Polish outfit services users both domestically and worldwide. The feature-rich trading platform is still fighting to become a well-known name in the industry. But many are not put out by the smaller reputation.

Bitbay provides a nice selection of coins with bitcoin, litecoin, ether, and lisk all available to trade. Fees are acceptable too, although slightly higher than some bigger exchanges. The pros, particularly for Polish users far outweigh the cons. Domestic customers can even get a bitcoin credit card to start transacting regularly.

Changelly Exchange Review

Pros: Simplistic crypto exchange, no trading expertise needed, sleek interface

Cons: Fee higher when trading fiat, not completely anonymous

Changelly is a real neat solution to a very real problem. Satoshi gave birth to bitcoin, one global currency. Bitcoin then reproduced and again. Now it has evolved. There are hundreds of global digital currencies which need to be exchanged. Changelly makes it easy and convenient to exchange cryptocurrencies without the need for trading platforms.

For a fee, you can send them a coin and receive another back. Of course, it is effectively making trades for you so you don’t need to understand charts and market trading. The slick interface coupled with a 0.5% fee on all transactions does make it an appealing prospect. However if you trade fiat currencies it seems like that exchange rate is a lot higher. So it is advised only to trade altcoins on Changelly.

Local Bitcoins Exchange Review

Pros: Transaction flexibility, no buy fee, worldwide user base, public rating system

Cons: 1% sell fee, some suspicious users

Local Bitcoins a clever operation that adds incredible flexibility to buying bitcoins. It brings buyers and sellers together in a marketplace. It is unique in that you can transact in almost any method thinkable including Paypal, wire transfer, Western Union, Webmoney or cash.

You can find some pretty good rates to buy bitcoin through the service with sellers all over the world looking to offload funds. Fees are dependent on which side of the transaction you sit. There is only 1% sell fee and funds are transacted directly to and from a Local Bitcoins wallet.

GDAX Exchange Review

Pros: Coinbase extension, cheap fees, ether and litecoin support

Cons: no altcoins, ether market crash

GDAX is the sister trading exchange to the world famous Coinbase. It benefits hugely from this close working relationship. Coinbase’s millions of users can use the same account detail to log in directly on GDAX. Once funds are transferred across trading can begin.

The backing of such a huge player makes GDAX one of the most trusted exchanges. Historically, funds have gone missing at least once but the customer support team were able to refund any losses. The exchange supports the big 3, bitcoin, ethereum and litecoin.

Gemini Exchange Review

Pros: Public owners, regulated, trustworthy.

Cons: Limited currency support, not yet a market leader.

Gemini is seen as one of the most trustworthy legitimate bitcoin exchanges. Publicly developed by Tyler and Cameron Winklevoss, it is building an encouraging mark of public support since 2015.

The ‘Winklvii’ are working with regulators to make their product a leader in conforming to banking and legal legislation. Primarily a US-based exchange, it still does not retain the same market cap as the top echelons but worldwide expansion looks set to change this through 2018. Fees are in line with market averages the only downside is minimal currency flexibility. Just bitcoin and ether on offer here.

Bitcoin plattform

Still have a question? Ask your own!

The Best Bitcoin Exchanges of 2018

The world’s largest Bitcoin broker, Coinbase is available in multiple countries and also serves as a web wallet. With $6.5 billion worth of exchanges and approximately four million customers, they have become one of the most talked-about exchanges on the market.

The intuitive design of their site and instant purchases are but two of the features that have attracted their sizable user base. Bitcoin deposits are insured and backed by Coinbase’s partnership with a number of banks.

• Easy to use
• Credit and debit support
• Instant purchases
• API for developers
• Insured deposits
• Rock solid verification for ultimate security
• Variety of wallets
• Multsig vault

• Poor customer support
• Monitoring customer spending habits
• Reputation for withholding affiliate earnings due to “technical difficulty”

CEX.IO being a registered and regulated business, follows several legal structures, guiding its operations and business conduction. The first major law regulation are AML/KYC (Anti-Money Laundering and Know Your Customer Policy) which requests all users’ identity to be verified with ID scans as to battle the money laundering schemes more effectively.

Thus, the privacy policy is designed to collect the personal data of the clients for safekeeping and data purposes. The company is not allowed to use the information in the profit-gaining activities, nor does it have the right to provide it to other parties, apart from government bodies.

Another policy resulted from the AML/KYC is the Anti-Fraud Policy, which states that CEX has a ‘zero tolerance’ towards fraud, corruption, collusion, money laundering, and other criminal activities from the staff members and traders.

The refund policy is also a must-read as it provides a framework on how and when you can get your refund in case you encounter issues while trading bitcoins at CEX. The crux of the matter is that you have 48 hours to request the refund after the transaction has been made and the potential returns are done though bank transfers only .

• possibility to purchase bitcoins with an unverified account;
• interface is easy to understand and use;
• several powerful API options available;
• available globally.

• no e-payment systems available as deposit methods;
• simple and small number of trading functions;
• the large spread between buying and selling BTC price.

One of the most private ways to purchase bitcoins, Local Bitcoins is a P2P exchange. This puts the power in the hands of the customer because the buyers and sellers determine their own trade terms and use the site simply for escrow.

Another pro here is the widespread availability. Localbitcoins is accessible in nearly every country with the exception of Germany and the State of New York.

The thing that appeals to most investors about Localbitcoins is the fact that, whereas other exchanges expect a fair amount of data to verify an account, they do not ask for any of your personal information when you’re making trades.

As if that’s not enough, they accept ANY payment method. Just be sure that you don’t use any reversible payment methods.

• No verification needed
• Popular in most countries
• Wide range of payment methods
• Good privacy
• Buys made with cash deposit deliver bitcoins within 1 hour on average
• In-person cash trades are fast and easy to organize
• Long-established exchange with a solid reputation
• Flat fee of one percent on trades
• Good customer support

• Inflation can become an issue
• Speed of delivery can take time
• ID verification required on larger transactions
• Fees may be high when purchasing with cash

Now that it’s harder to tell if there’s more currencies or exchanges, answering this question is particularly difficult. Furthermore, it would be impossible to give the full list of all the exchanges which have earned some reputation, so here are a few that are most widely known.

Coinbase - it’s a no brainer, most people start here. It is very convenient since it offers buying 4 very big currencies (Bitcoin, Bitcoin Cash, Ethereum and Litecoin) for US dollars. However, limited coin offering, not being worldwide service and notoriously slow speed usually make people move on at one point.

Binance - very popular because of its rich coin offer and the rates being among the lower ones in the space. It is reserved for more skilled traders since it’s not nearly as intuitive and user friendly as Coinbase, but if you have a good grip on this field then it’s a good place to go. However, it is a Chinese service and China is doing everything it can to eliminate cryptocurrencies in this country. So, that should be kept in mind and monitored.

Switchain - another one that’s simple and straightforward. The difference from Coinbase is that it is a worldwide service, it offers a lot of coins and it also gives you the comparison of rates you can get on a few exchanges so that you can make sure you’re getting the best deal. Much like Binance, it does not offer buying or selling cryptocurrencies for regular money.

LocalBitcoins is a trading platforms where you trade assets directly with other people and not with an exchange company. It is more in accordance with the initial idea of cryptocurrencies in the sense that it doesn’t involve third party exchanges behind it which makes it very appealing for one part of this community.

Kraken - Another one more suitable for day traders with some experience in the field who are not looking for a lot of altcoins in one place and probably appreciate the option of buying crypto for fiat money. Even though they had some issues handling the amount of traffic they were getting, Kraken is still going very strong and enjoys great reputation.

Bitcoin: It’s the platform, not the currency, stupid!

This research is courtesy of Sander Duivestein, professional speaker and trendwatcher at VINT, the International Research Institute of Sogeti, and Patrick Savalle, founder and technical director at Mobbr crowd payments.

Bitcoin is big news again. The digital cryptocurrency is on the frontpage of every major newspaper. This week its price collapsed because the largest exchange on the network did not handle a known design flaw in bitcoin properly, which caused widespread disruption and possibly some loss of bitcoin. As a precaution, several exchanges had to close their virtual doors till further notice.

Economists have warned of the above scenario several times. No central authority backs this virtual currency. Investing in bitcoin is equivalent to pure speculation. It’s the new Tulip-mania. Money can therefore disappear like snow in the sun. In addition, the currency is discovered by the criminal world and it is used widely to money laundering. Bitcoin is purely “evil“, as Paul Krugman, a Nobel Prize-winning economist, recently proclaimed.

But there is more to the story than the economists tell. Of course there is no denying that the latest incident is a reminder that bitcoin is still an experiment. The real story of bitcoin however, is more complex. In this research paper we hope to explain that the bitcoin currency itself is ‘just’ the next phase in the evolution of money – from dumb to smart money.

It’s the underlying platform, the Bitcoin protocol aka Bitcoin 2.0, that holds the real transformative power. That is where the revolution starts. According to our research there are several reasons why this new technology is going to disrupt our economy and society as we have never experienced before:

From dumb to smart money

The Bitcoin protocol is the underlying platform that holds the real transformative power and is where the revolution starts. According to our research there are several reasons why this new technology is going to disrupt our economy and society as we have never experienced before:

• Similar to when the TCP/IP, HTTP and SMTP protocols were still in their infancy; the Bitcoin protocol is currently in a similar evolutionary stage. Contrary to the early days of the Internet, when only a few people had a computer, nowadays everybody has a supercomputer in its pocket. It’s Moore’s Law all over again. Bitcoin is going to disrupt the economy and society with breathtaking speed.
• For the first time in history technology makes it possible to transfer property rights (such as shares, certificates, digital money, etc.) fast, transparent and very secure. Moreover, these transactions can take place without the involvement of a trusted intermediary such as a government, notary, or bank. Companies and governments are no longer needed as the “middle man” in all kinds of financial agreements.
• Not only does The Internet of Things give machines a digital identity, the bitcoin API’s (machine-machine interfaces) gives them an economic identity as well. Next to people and corporations, machines will become a new type of agent in the economy.
• The Bitcoin protocol flips automation upside down. From now on automation within companies can start top down, making the white-collar employees obsolete. Corporate missions can be encoded on top of the protocol. Machines can manage a corporation all by themselves. Bitcoin introduces the world to the new nature of the firm: the Distributed Autonomous Corporation (DAC).
• This new type of corporation also adds a new perspective to the discussion on technological unemployment. The DAC might even turn technological unemplyment into structural unemployment.
• Bitcoin is key to the success of the Collaborative Economy. Bitcoin enables a frictionless and transparent way of sharing ideas, media, products, services and technology between people without the interference of corporations and governments.

Next: Is your business ready to be disrupted? Are you?

Is your business ready to be disrupted? Are you?

“Beware the mania for Bitcoin, the tulip of the 21st century.” This statement was recently made by Jean-Pierre Landau, a professor of economics, in an opinion article for the Financial Times .

Alan Greenspan, the former president of the Federal Reserve also completely dismisses the digital coin: “It’s a bubble. It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven’t been able to do it. Maybe somebody else can.”

There is a lot of confusion about bitcoin. It is really hard to define the “ irreducible core” of bitcoin. Part of the problem is that a clear definition of the digital cryptocurrency and a good explanation of the workings of the underlying platform is missing.

The other part of the problem is that lots of people only focus on the volatility of the currency and the “fact” that the money is invented to support criminal activity.

Most importantly, Bitcoin is still in its infancy, just as 20 years ago when the internet protocols TCP/IP, SMTP and HTTP were introduced. Their impact was not understood at the time. And that’s not so strange.

Futurist Peter Schwartz once said in his book ‘The Art of the Long View’: “The single most frequent failure in the history of forecasting has been grossly underestimating the impact of technologies. […] The reason we underestimate the impact of science and technology is that they are so difficult, if not impossible, to foresee.”

Talking about bitcoin, there are basically two camps. The economists are dismissing bitcoin as a new ponzi scheme, while technologists view bitcoin as the biggest invention of this decade. Who do we have to believe?

Marc Andreessen, co-founder of Netscape and partner with venture capital firm Andreessen Horowitz, made the following statement in his article Why Bitcoin Matters: “Personal computers in 1975, the Internet in 1993, and – I believe – Bitcoin in 2014.”

So what does Andreessen envision that the economists don’t see?

It’s not the digital currency, but the underlying platform that will cause an enormous market disruption. Bitcoin is more than just another currency, it’s “an Internet” for registering and transferring property.

Thanks to the Bitcoin protocol (crucially distinct from bitcoin, the currency it underlies), for the first time in history it is possible to transfer property rights (such as shares, certificates, digital money, etc.) in a fast and transparent way, which cannot be forged.

Moreover, these transactions can take place without the involvement of a trusted intermediary such as a government, notary, or bank. Anyone who fully appreciates these attributes will immediately acknowledge the tremendous value of Bitcoin.

In this research paper we will not discuss the shortcomings of the digital cryptocurrency bitcoin, on “why bitcoin could fail“. Instead we will focus on the underlying Bitcoin protocol, on the platform, and attempt to clarify its importance.

Next: The specter of crypto anarchy

The specter of cryptoanarchy

“A specter is haunting the modern world, the specter of crypto anarchy.” This is the beginning of the “Crypto Anarchistic Manifesto” by Tim May.

This first sentence in the manifesto is a nod to the 1848 “Communist Manifesto” by Karl Marx and Friedrich Engels. Just like the communist manifesto, the crypto anarchic manifesto is about dispensing with government interference. In this case, the advances in information technology will stamp out government regulation.

According to May, computer technology was about to reach the point where it is possible for individuals and groups to communicate and perform transactions in a completely anonymous manner. Two entities can exchange messages, transact business and enter into contracts, without ever knowing the name or legal identity of the other party.

Thanks to cryptography, interactions are untraceable and tamper-proof. The result could be that governments might lose complete control of the economic marketplace.

May’s prophecy was already known in limited circles in 1988. However, the document wasn’t actually published online until 1992. In the meantime, it has taken on a cult status among techno-anarchists.

The arrival of Bitcoin has led some financial experts to now take the manifesto very seriously. Some of them refer to several Dark Web initiatives, like the online black marketplace Silk Road or Assassination Market, a kickstarter for assassins, to explain how bitcoin is changing our world into a true dystopia.

However, most experts believe the Bitcoin protocol will cause a revolution equal to the Internet itself. After all, who would have thought that email would end up making the paper letter, fax, and postcard obsolete back in 1997?

Just as Google, Napster, Youtube, Facebook etc. have transformed the way we interact with content, the Bitcoin platform will revolutionize the world of finance. Contrary to the early days of the internet, when only a few people had a computer, nowadays everybody has a supercomputer in its pocket. The Bitcoin protocol is a “Big Bang Disruption” that will kickstart an age of accelerated innovation.

“Thanks to near-perfect market information […] the bell curve, once useful as a model of product adoption, has lost its value as a planning tool,” say Larry Downes and Paul Nunes. “This kind of disruption has its own unique life cycle, and with it its own best practices for marketing and sales, product enhancement, and eventual product replacement. Markets take off suddenly, or they don’t take off at all. Since adoption is increasingly all-at-once or never, saturation is reached much sooner in the life of a successful new product.”

Bitcoin truly turns the world around.

Next: A network where trust is not needed

A network where trust is not needed

A problem mathematicians have been working on for a long time is how different parties can know if information exchanged online represents the consensus, without the need to rely on a third party. Until recently, this was considered impossible.

This problem is also known as the Byzantine Generals’ Problem. To quote from the original paper defining the problem, ‘Reaching agreement in the presence of faults’ (Journal of the ACM, 1980) by Pease, M., R. Shosthak and L. Lamport:

“[Imagine] a group of generals of the Byzantine army camped with their troops around an enemy city. Communicating only by messenger, the generals must agree upon a common battle plan. However, one or more of them may be traitors who will try to confuse the others. The problem is to find an algorithm to ensure that the loyal generals will reach agreement.”

In a system with intermediaries, it is always possible that one of the parties is consciously or unconsciously filtering or changing information. The solution to this problem must, by definition, be a system where trust is not needed. This requirement can only be met by decentralized systems.

When creating digitally money, solving this problem is crucial; how else can we know to whom which coins belong?

The mysterious Satoshi Nakamoto, the presumed creator of the Bitcoin protocol, managed to solve this fundamental problem. While doing so, he stumbled upon something much bigger. Bitcoin is a decentralized way of recording and transferring ownership rights (not just money) in the presence of untrustworthy parties, without the need for a trusted intermediary.

The network in its entirety acts as the trusted party.

In a system like this, ownership rights can flow through the Internet like ‘normal’ content (from e-mail to video streaming) already does. And no one can dispute or counterfeit who has ownership. It is safe, transparent, and mathematically secure.

The foundation of Bitcoin is the block chain. For Bitcoin, the block chain is what a ledger is for a bank. A normal bank has stacks of money locked up in a safe, with a corresponding ledger recording what money belongs to whom. This is essential. The ledger is managed centrally by the bank. This is why all transactions go through that bank.

With Bitcoin, the ledger is decentralized. It is duplicated across the entire network. No single individual controls the ledger because everyone simultaneously controls the ledger. The network as a whole keeps track of which bitcoins are assigned to which wallets (Bitcoin addresses).

Transactions simply pass from wallet to wallet. It is similar to how cash or physical goods are exchanged, but with the reach of the Internet.

The decentralized nature of the block chain has many advantages. One of these is the impossibility of censorship (financial or otherwise) by a single party. There is also no single point of failure.

In contrast to a bank’s ledger, the block chain can be inspected by anyone. Bitcoin transactions are completely transparent. This allows for complete financial openness, e.g. for public institutions, charities, etc.

By default, the “account numbers” (Bitcoin addresses) that are added to the block chain are anonymous. This provides Bitcoin users with a choice between anonymity or transparency. People who publish their addresses allow a direct view of their money flows, while people who succeed in keeping their addresses hidden (which is difficult) remain anonymous. Bitcoin is pseudonymous, not anonymous.

Bitcoins at a particular address can be spent by providing a corresponding unique key (a code). In normal use, this isn’t visible, because the wallet software manages it. However, it is possible to copy, print, or share the codes.

To ensure that bitcoins are not spent twice and that only valid transactions are added to the block chain, all computers in the network must compete with each other to calculate a checksum (a cryptographic puzzle). The first computer that finds the solution may initially add the transaction to the end of the block chain.

As more computers confirm the solution and start using the new block chain to add new transactions, the found solution will increase in probability. If the majority of the computers are searching for the same, correct solution, invalid transactions will automatically end up in a dead branch of the block chain and become extinct due to a lack of consensus.

In practice, a transaction is safe after six or more confirmations. All this cryptography gives bitcoin its classification ‘cryptocurrency’.

Successfully adding a block of transactions to the block chain is rewarded with newly created bitcoins, and is therefore called “mining”. Mining is Bitcoin’s solution to the Byzantine Generals’ Problem.

While this mining reward is the strength of bitcoin, funding its own growth, it recently almost turned against itself. To be able to forge a fraudulent transaction, one must control the majority of computing power allocated to the ‘mining’ of bitcoins, which currently is equivalent to that of the top 500 of supercomputers.

Cloud mining collective Ghash.io almost reached that majority and had to promise not to break the market in order from keeping its customers from leaving en masse. Theoretically, this risk should reduce as the number of market participants increases.

The algorithms are designed in a way that only a fixed number of new bitcoins are generated each day. This number decreases every day meaning that the maximum number of bitcoins will have been generated some time in 2140.

A Bitcoin economy therefore has a predictable monetary basis with monetary inflation theoretically ultimately decreasing to zero, leaving consumption and production as the only drivers of so-called ‘natural’ price inflation and deflation.

However, with mining rewards from bitcoin generation decreasing, we will probably see the need for an increase in associated transaction fees.

Next: The birth of the “Internet of Money”

The birth of the “Internet of Money”

Bitcoin is the end of “dumb money”. Thanks to Bitcoin, money is now programmable, “it’s a money platform with many API’s”, which allows countless financial innovations to be created. The possibilities are virtually endless and often quite unexpected.

Examples include fraud-free voting systems, digital rights management systems, new types of air miles or freebies, and festival coins for buying drinks.

Imagine a car rental company issuing bitcoins linked to their fleet of rental vehicles. Each vehicle can be unlocked and started by using a corresponding bitcoin. People can book the car online and use this digital currency (which can be encrypted on their smartphone in a special app) to drive the car when they are entitled to do so. And, if they are in a hurry, the driver can issue micro-payments to other road users to get out of the way.

Or what about a NSA-proof version of Twitter? Recently a fully decentralized P2P microblogging platform – Twister – was created by leveraging from the open software implementations of both the Bitcoin and BitTorrent technology. Bitcoin could ultimately give rise to a completely new generation, economy even, of distributed and decentralized companies and services.

Combined with decentralized production technology such as social collaboration they can even be virtually leaderless, self-organising corporations.

Bitcoin also makes it possible to automate all kinds of processes related to a transaction. The protocol contains several features that allow for payment conditions to be set, transactions to be voted on, and illegal use to be prevented, among other things.

The Bitcoin protocol lowers the threshold for engaging in transactions. Not only because the transaction itself will be cheaper, but also because it will be simpler to manage any risk involved in the transaction.

Before Bitcoin was discovered, similar networks had been experimented with for decades. That is, Bitcoin didn’t just appear out of thin air. It’s the story of the Long Nose of Innovation all over again. Bitcoin is “simply” the first network to have solved all the associated technological problems.

Since Bitcoin has come into existence, many comparable cryptocurrencies have arisen. One of the more promising ones is Mastercoin, it’s built on top of Bitcoin and makes it possible for anyone to create their own cryptocurrency. The Mastercoin protocol is an open source project that will add many new futures to the Bitcoin block chain.

In the near future Mastercoins will facilitate the creation of new asset classes, such as stocks or other ownership certificates, and create a variety of automated “smart contracts” (as already was explored in a 1997 paper by computer scientist Nick Szabo).

The Ripple network is a another promising example of such a network. Although this platform has its own currency (currency code “XRP”; Bitcoin’s currency code will probably be “XBT” instead of the currently used “BTC”), it is basically currency agnostic, so it is just as easy to use euros or dollars.

The Ripple network makes exchanges and other automated facilities possible, allowing frictionless currency conversion. International payments are possible at the speed of the Internet, from wallet to wallet, also without the need for a bank or bank account. This could provide the billions of unbanked people around the world with easy access to the international money market (assuming that they have Internet access).

Ripple’s so-called “chains of trust” speak to the imagination. Everyone has encountered the situation where debts are settled within a group of friends. Some time ago, Pete borrowed $3 dollars from Elsa, and Elsa is now asking Pete to settle her debt of $2 dollars to John, after which Pete would only owe $1 dollar to Elsa and Elsa would be debt-free.

Ripple allows this debt-exchange game to be carried out on a global scale.

Paying smaller amounts becomes mostly a zero sum game, with existing debts (IOUs) being redistributed between people who trust each other. What Ripple essentially is suggesting, is a “Next Level” economy.

Next: Machines with an economic identity

Machines with an economic identity

The Internet of Things enables all types of objects to be connected to the Internet, such as computers, smartphones, refrigerators, windmills, tiny sensors the size of a grain of sand, etc. Each object has its own digital identity that can be controlled.

The Bitcoin network makes it very easy for these objects to also have an economic identity, in addition to their digital identity. For example, the refrigerator can negotiate with the windmills in the area about energy use given certain conditions. The block chain doesn’t care who’s using it. “On the block chain nobody knows you are a fridge.” Bitcoin makes these transactions simple and reliable.

This will completely revamp the traditional division of roles between people, organizations, and machines. The Bitcoin protocol enables a “smart” machine to participate as a third economic agent alongside humans and organizations in the marketplace.

“[T]hings are going to get very messy indeed.” Companies are already having difficulty implementing B2B, B2C, C2B, and C2C models. This problem will only grow with the advent of B2M, M2B, C2M, M2C, and M2M markets.

In this “futuristic” world, a soda machine can be an independent economic entity that is responsible for managing and selling its own store of drinks. It will be a machine that, in addition to selling drinks to consumers (M2C), will also be able to place orders with companies (B2M). It can even place orders with consumers (C2M) to fill its store.

This will of course entail questions about who exactly is legally and economically responsible (say, if someone were to get sick from a can of soda from one of these machines, for example).

Additionally, think of a service that can access the Internet to play a simple game of chess. Each time you play a game, you have to pay the service a small amount of bitcoin. When the creator of this service dies, the service dies with him, because the bill of hosting this service isn’t paid for anymore.

But now we have bitcoin, so it can be a completely valid situation where this service has its own bitcoin wallet. Each time someone plays a game of chess, the money for this service will be transferred to its wallet. The money earned from this service can than be used to pay for the hosting. “So basically Bitcoin will power the next generation of corporations. The real value of Bitcoin lies in economies that don’t yet exist.”

Next: The dawn of decentralized autonomous corporations

The dawn of decentralized autonomous corporations

In August 2011 Marc Andreessen published an essay “Why Software Is Eating The World” in the Wall Street Journal . In this article Andreessen describes how companies like Borders, Kodak, Disney and Nintendo are having difficulty with the digital revolution.

“More and more major businesses and industries are being run on software and delivered as online services—from movies to agriculture to national defense. Many of the winners are Silicon Valley-style entrepreneurial technology companies that are invading and overturning established industry structures. […] Over the next 10 years, the battles between incumbents and software-powered insurgents will be epic. Joseph Schumpeter, the economist who coined the term “creative destruction,” would be proud.”

One year later Andreessen was interviewed by newspaper USA Today. In this conversation he sharpened his vision:

“The spread of computers and the Internet will put jobs in two categories. People who tell computers what to do, and people who are told by computers what to do. […] There’s no such thing as median income; there’s a curve, and it really matters what side of the curve you’re on. There’s no such thing as the middle class. It’s absolutely vanishing.”

In their book “The Second Machine Age” (2014) authors Andrew McAfee and Erik Brynjolfsson, both at the Massachusetts Institute of Technology (MIT), argue how the history of work can be described by the role that automation has played.

They distinguish between two periods. In the First Machine Age, the Industrial Revolution, technology reinforces human muscle power. These machines are controlled by humans.

In the Second Machine Age machines and intelligent software are automating cognitive tasks. They are climbing up the DIKW hierarchy.

Google’s self-driving cars and IBM’s Watson demonstrate that artificially intelligent machines can make smart decisions. These examples of emerging technologies show that “the relationship between humans and machine is redefined”. Smart machines are taking over control.

Automation is the replacement of human labor by machines or computers and computer programs. Automation normally starts bottom up. In their book, McAfee and Brynjolfsson also define automation as a bottom up process. In the First Machine Age, blue-collar workers are replaced by machines and in the Second Machine Age intelligent software takes over the jobs of the managers of the organisation (the white-collar workers).

The Bitcoin protocol turns this automation process upside down. Automation starts top down. Right now we need managers to pursue the mission statement of the company.

“But what if, we can encode the mission statement into code; that is, create an inviolable contract that generates revenue, pays people to perform some function, and finds hardware for itself to run on, all without any need for top-down human direction?”

Such a company already exists. Bitcoin is the first prototype of a real decentralized autonomous corporation (DAC), where the bitcoin holders are the equity shareholders of Bitcoin Inc.

Stan Larimer, president of Invictus Innovations, defines a DAC as follows:

“Distributed Autonomous Corporations (DAC) run without any human involvement under the control of an incorruptible set of business rules. (That’s why they must be distributed and autonomous.) These rules are implemented as publicly auditable open source software distributed across the computers of their stakeholders. You become a stakeholder by buying “stock” in the company or being paid in that stock to provide services for the company. This stock may entitle you to a share of its “profits”, participation in its growth, and/or a say in how it is run.”

Another example of a DAC is Namecoin. It is a corporation that is basically a decentralized service, a decentralized Domain Name System (DNS), that allows you to register and buy a .bit domain, by purchasing it with Namecoins, that are especially designed and created for this goal.

A plausible scenario for a DAC could also be a fully automated speakers agency that acts on behalf of its keynote speakers. “Speakercoins” can be issued that can be bought by people, companies, conferences that want to hire one of the speakers. The DAC takes care of the bookings by automatically managing the agenda of their presenters.

After a keynote has been given the DAC automatically pays the speakers by transferring the money from its wallet. Think bigger and a DAC can even be an employment agency.

Or what about “Decentralized Altruistic Corporations, essentially charities that do autonomous donation and fundraising for good causes?”

Several initiatives are now in development that support the idea of a DAC. One of the promising ones is Ethereum. Vitalik Buterin, a 19 year old developer from Toronto, has launched this new platform, that acts like an operating system for crypto currencies. Ethereum offers a more robust scripting language than the Bitcoin protocol that gives developers the opportunity to build Distributed Apps (Dapps).

“Ethereum allows for the creation of complex, yet decentralised, economic tools like financial derivatives, in which two parties can bet on the rise and fall of an asset, or crop insurance that pays out to a farmer according to a weather data feed. Creating decentralised versions of Dropbox or eBay should be possible too, claims Buterin.” – The New Scientist

The possibilities of DACs and Dapps are endless. In the future every person and every object will have it´s own personal DAC that takes care of it´s business. Personalized DACs act like Google Now on steroids and in a worst case scenario they will become a true “Daemon” .

Next: The new nature of the firm

The new nature of the firm

In 1937 Ronald Coase published a groundbreaking article, The Nature of the Firm. In it he posed a very simple question: “Why do firms exist?”.

In his research he came up with the concept of transaction costs to explain the nature and limits of firms. Companies exist primarily because the underlying coordination mechanisms of the market aren’t perfect.

During the Industrial Revolution hierarchies became the dominant way to organize the world. Untill now it has been the most efficient way to overcome transaction costs. The internet changed all of this. The internet makes it possible to cut down in transaction and communication costs.

By doing so, the Internet introduces a new kind of firm, almost by definition. The Decentralized Autonomous Corporation (or a Dapp) represents this new nature of the firm: a company where software is in control.

Hal Varian, Chief Economist of Google, calls these new kinds of firms “micro multinationals” and believes that these companies will rule the world in the coming years: “If the late 20th Century was the age of the multinational company, the early 21st will be the age of the micro multinational: small companies that operate globally.”

Bitcoin Saves Capitalism

Within a few years we will see many new and different types of DACs – powered by initiatives like Colored Coins, Mastercoin, Nextcoin, Ethereum – that will replace centralized commercial services such as Facebook, Twitter , YouTube , eBay , stock exchanges, Spotify , Netflix , ISP’s, Gmail, online sports-books, voting booths, SSL, cloud storage like Dropbox , and much more.

Companies like Google, Amazon , Facebook etc. have disrupted various industries around the world. Soon it will be their turn to be disrupted by these DAC’s. “The DAC that creates the best automated model for both investors and customers in a particular market will be able to come out on top. This is capitalism in its purest form.”

The Bitcoin block chain offers a platform that isn’t controlled by anyone. Everybody can participate voluntary and the system cannot be manipulated by governments, corporations, bankers etc. So no more crony capitalism and cleptocracy

In his upcoming book “The Capitalist’s Dilemma,” author and Harvard Business School Professor Clayton Christensen distinguishes three kinds of innovation: empowering, sustaining and efficiency innovations.

“Industries typically transition through these types of innovations. […] The dials on these three innovations are sensitive, but if set in a recurring circle — with empowering innovations creating more jobs than efficiency innovations eliminate, and the capital that efficiency innovations liberate being invested back into empowering innovations — the economy is a magnificent machine.”

However the economic engine is broken:

“Capital sits unused on the balance sheets of corporations and languishes inert in private equity funds. Capitalists seem uninterested in capitalism, even as eager entrepreneurs can’t get financing. […] At the heart of this paradox is a doctrine of finance employing measures of profitability that guide capitalists away from investments that can create growth.”

The solution to this problem is complicated.

According to Andreas Antonopoulos, the answer to this problem lies within the Bitcoin protocol:

“Right in the middle of the Cash Flow stagnation, you have Bitcoin now, not just creating a new model for currency, but at the same time creating a new liquidity pool, that has been built on top of this vibrant, innovative economy, where now you see hundreds of startups, creating thousands of jobs, creating this incredible amount of innovation, in financial services, in cryptografie, in security, in distributed systems, in technology and we’re only seeing the beginning of this. And as this wave accelerates, it’s generating it’s own economy. […] That is the biggest disruptive potential of bitcoin.

“Not that it is a better currency that takes over the other currencies, and absorbs their economic activity, but that it forms the basis for a free market economics that enables innovation. […] Economic activity that in the end may end up dwarfing the traditional financial sector. And not replacing it by absorbing it. But replace it by making it irrelevant. By rendering it obsolete.”

Bitcoin is capitalism 2.0

The future will not be centralized! Democratization is the transfer of any kind of power from the elite to the crowd.

Bitcoin is the third democratization. The first was the Internet, it enabled the democratization of information. The second democratization started with 3D printing, it’s the democratization of manufacturing where factories become obsolete. They are no longer needed to build a product. Now we are on the break of a third democratising force. It’s the democratization of money and finance. No more monopolies that control our money and business. Bitcoin is about freedom.

In this new era where technology is transferring power to the people, the world of finance will be unbundled. Banks used to do everything. Now all kinds of startups are picking of services. Alexander Pease, a venture capitalist at Union Square Ventures, made a great slide deck in which he showed how companies are innovating in the world of finance. He calls this process the “disaggregation of a bank”. In his opinion all kinds of startups are eating traditional banks for breakfast.

Within a few years we will see many new and different types of DACs – powered by initiatives like Invictus Innovations, Mastercoin, NXT, Ethereum – that will replace centralized commercial services such as Facebook, Twitter, Youtube, eBay, stock exchanges, Spotify, Netflix, ISP’s, Gmail, online sportsbooks, voting booths, SSL, cloud storage like Dropbox, and much more.

The currency application of Bitcoin was version 1.0. The block chain is Bitcoin version 2.0. Bitcoin 2.0 is real capitalism. It enables a market with true self-regulating behavior, as Adam Smith ment with his “invisible hand”. Individuals can make profit, and maximize it without the need for government intervention. “Bitcoin 1.0 is monetarism 2.0 and Bitcoin 2.0 is capitalism 2.0” as financial pundit Max Keiser so eloquently said in one of his reports.

A frictionless and transparent marketplace that is executed on top of the Bitcoin platform will put a lot of pressure on existing companies. They are not used to compete with automated services like DACs and Dapps. Companies will have to make decisions with the speed of the internet, which is by definition impossible. These companies will “try to preserve the problem to which they where once the solution” . But the dramatic changes in business will unearth a major gap between traditional approaches to strategy and the way the real world will work. It is “the end of competitive advantage” as we know it.

Next: Bitcoin shortens the life span of companies

Bitcoin shortens the life span of companies

In their book “Built to Change” the authors Edward Lawler and Chris Worley analyzed the Fortune 1000 list. This list contains the thousand largest U.S. companies ranked on the basis of generated income.

The study shows that a total of 35 percent of the companies in the top 20 are new in the period from 1973 to 1983. In the subsequent period of ten years, again this percentage increases to 45 percent. From 1993 to 2003 this figure amounts to 60 percent.

Over the years, the percentage of new companies that enter the top 20 increases. In the book, the authors propose an important question: Any bets as to where it will be between 2003 and 2013?”

In the article Big Business … The End is Near an answer to this question is given. If the above trend continues, more than 70 percent from the list of the Fortune 1000 companies will be replaced.

Gabriel Weinberg , the founder of the DuckDuckGo search engine, states in his blog post Software is eating the Fortune 500:

“We should eventually be seeing bigger companies form and rise faster and faster over time. Not only should they pick off huge incumbents, but they should also pick off each other in faster waves.”

In the near future, new companies will emerge that will achieve tremendous growth within no time and thereby undermine the position of established organizations.

To prove his theorem Weinberg has looked at the Fortune 500 list since 1955. His research shows that an accelerated change is noticeable. Companies stay on the list for fewer and fewer years. After a few years, most companies disappear from it and their place is taken over by another one.

The same trend can be seen in the S&P 500. Research by Richard Foster, a consultant with the company Innosight, shows that the average life span of a company listed on the index has declined tremendously.

In 1958, the average life span of a company was 61 years, in 1980 this has fallen down to 25 years and now it’s only 18 years long. His prediction is that it will decrease even more in the coming years and the life span will eventually approach 10 year.

In less than a hundred years, the life span of companies has decreased by 83 percent.

According to Scott Brinkler technology advances exponentially, while organizations absorb changes logarithmically. Brinkler states that “the great management dilemma of the 21st century is the relationship between these two curves: technology is changing faster than organizations can absorb change. […] To succeed, technology management must explicitly address how those technologies will be absorbed into the operations and the culture of the organization.”

Bitcoin will have an effect on the lifetime of existing companies. Possibly it will accelerate the trend of decreasing life spans even more.

Next: Bitcoin protocol is key to the success of the collaborative economy

Bitcoin protocol is key to the success of the collaborative economy

As we head into 2014, one trend will tower above them all: the power shift from big, centralized, bureaucratic hierarchies to technology driven distributed networks of individuals and communities. It’s the democratization of technology.

This power shift happens in two phases of sharing. The first phase started with social media. By using all kinds of social media, like Facebook, Twitter, Pinterest and Snapchat, people are now used to share their thoughts and media online.

The second phase is the sharing of the physical world, the sharing of products, services and technology in the same seamless manner when using social media. Airbnb , Uber , Lyft , Kickstarter , TaskRabbit and Coursera are the first companies that are guiding us into this future.

Airbnb global growth

Jeremiah Owyang, a former Forrester analyst, has dedicated his working life to this movement. He defines this Collaborative Economy as follows: “The Collaborative Economy is an economic model where ownership and access are shared between people, startups, and corporations.”

We are entering a new era of human-to-human commerce where companies and governments are no longer “the middle man”. “The future will be less of a “one-to-one” or “one-to-many”, and more of an “all-for-one”, “one-for-all” model where everyone benefits that participates.”

The role of the company in this new economy is changing rapidly. The crowd is the new company and the Bitcoin protocol will be the frictionless and transparent mechanism that empowers these new kind of companies in the Collaborative Economy. “It’s a massive paradigm shift in how we live, work, play, travel, create, learn, bank and consume.” It can even impact complete countries or nations, like Iceland will probably experience with the Auroracoin. So is your business ready to be disrupted?

Adapt or die

Eric Schmidt, former CEO of Google, once said: “The Internet is the first thing that humanity has built that humanity doesn’t understand, the largest experiment in anarchy that we have ever had.”

The Bitcoin protocol might even dwarf the Internet in this regard in the coming years. New business models where trust and control will be carried out in a completely new way and the Internet of Things will lead to a new economic agent – “the machine” – being added to the existing economy.

The idea that machines can participate autonomously in the economic marketplace raises concerns about (technological) unemployment. The fact that the Bitcoin block chain even supports decentralized autonomous corporations makes it even worse. Will the machines take over?

Like any powerful technology, Bitcoin can either be seen as a Pandora’s box, or as a step towards Utopia. Bitcoin just obeys the First Law of Technology: “Technology is neither good nor bad; nor is it neutral”.

Asking yourself whether Bitcoin will fail is like questioning yourself whether technology can be “un-invented”. It is much better to experiment and innovate with this new platform. The best strategy is to build a startup that cannibalizes their own business model. A strategy that enables companies and governments to quickly adapt to the changing circumstances, if they wish to survive. It’s Digital Darwinism!

Next:2014: The year of encryption

2014: The year of encryption

“Bitcoin is far more than a currency”. Seeing Bitcoin as a currency for speculators and using bitcoin’s initial large exchange rate fluctuations to label the coin as “evil”, is to seriously underestimate Bitcoin

Similar to when TCP/IP, SMTP and HTTP were still in their infancy, the Bitcoin protocol is currently in a similar evolutionary stage. Bitcoin may never fully reach maturity as a currency, but given the fact that it’s underlying protocol is open source, similar initiatives will emerge using its key design elements, and one day cross the finish line because it is the “fittest”.

“Bitcoin isn’t a tulip, it’s a torrent. It is to finance what Napster was to copyright – and if this one is stamped out, another one will appear.”

Countries, nations, bankers, stock brokers, insurance companies, notaries and the like are in for a wild ride and they won’t enjoy it…

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Oldest Bitcoin Exchange to Launch New Platform In June

Oldest Bitcoin Exchange to Launch New Platform In June

BTCC Exchange, the world’s oldest Bitcoin exchange has announced an upgraded platform next June. At launch, the operator will support trading of a limited number of cryptocurrency pairs and offer zero trading fees for the first three months.

BTCC Exchange to Launch New And Enhanced Platform In June

The oldest Bitcoin exchange in the world is reforming its modus operandi by enlarging its cryptocurrency trading offering as well as by optimizing to include offline cold storage and SSL encrypted traffic to protect its customer’s digital assets.

BTCC Exchange has more than seven years of experience in bringing together buyers and sellers of Bitcoin (BTC). It is new enlarging the scope of its offering to Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), and their respective trading pairs. For the first three months starting in June, users will face no trading fees.

The launch of the new BTCC Exchange platform will introduce its users to enhanced liquidity, faster deposits and withdrawals, and small bid-offer spreads, according to the company. Technically, the exchange says it has invested in a cutting-edge system proper for trading at the highest standards. The operator is now using a multi-tier, multi-clustered system with an optimized, high-speed memory trading engine.

As cryptocurrency exchange hacks present one of the most difficult challenges for both sides, operators and customers, the oldest Bitcoin platform in the world reminded users that it has never been hacked in more than seven years online, but it is still optimizing security through cold storage and encryption systems.

“BTCC’s exchange is backed by seven years of operational experience and has been optimized to include offline cold storage and SSL encrypted traffic to protect your digital assets. We take security very seriously and are proud of the fact that we have never been compromised.”

Recent virtual currency exchange thefts include the CoinSecure hack in April 2018. Worth 438 Bitcoin (approximately $3.3 million), the company accused one employee for the inside jobs. In February, the BitGrail hack amounted to $195 million worth of NANO. The exchange failed to secure its coin storage. The most valuable hack in 2018 so far was on Coincheck exchange, who seems to have neglected security measures on NEM. The hack was worth over $500 million.

The operator is also promoting user referrals, verifications, and deposits, with its reward point system that provides benefits across the BTCC ecosystem, including both BTCC Pool and Mobi wallet.

BTCC Exchange offers Bitcoin and cryptocurrency exchange services, a digital currency wallet, physical bitcoins, and mining pools.

How to Create Bitcoin/Cryptocurrency Trading Exchange Platform?

The very first thing you need to know is bitcoin popularity grows with each month and you probably interested in how to start a bitcoin exchange. Analysts are inclined to believe that cryptocurrencies, especially bitcoin, to dollar exchange rate corresponds to bitcoin popularity and it is the very new hype.

The very first thing you need to know is bitcoin popularity grows with each month and you probably interested in how to start a bitcoin exchange. Analysts are inclined to believe that cryptocurrencies, especially bitcoin, to dollar exchange rate corresponds to bitcoin popularity and it is the very new hype. Nevertheless, the whole planet uses it in protected transactions. Bitcoin exchange rate is USD 8,242 = 1 BTC. Building the new online cryptocurrency exchange software is a huge opportunity for their owners.

Forget About Bitcoin Mining

As already mentioned above, bitcoin is quite popular now, hence bitcoin mining has become more difficult. You will need simply unimaginable computing GPU performance (CPU is more than 50 times slower). To get now at least one bitcoin is extremely difficult.

Additionally, some countries have increased their attention to it. There bitcoin mining considered as an illegal business, tax evasion and other nonsense. Still in most part of the world, cryptocurrency are grey zone and didn’t regulate now. However, the situation may change soon.

How Else to Earn Money on Bitcoins?

If you have an online store, a SaaS application, or you work online and accept money – you can allow your customers to pay by bitcoins. In fact, you invest in bitcoin in this way. We have already heard how the bitcoin rate fluctuated in the summer of 2017, and by the autumn, it doubled. Simply unthinkable!

Another option for earning money on bitcoins is the online exchange-trading platform. The opening of it, not a typical task and is resource-intensive. Let’s turn to what will platform owners get in return? A small commission from 0.2% to 3%. Quite a miser, don’t you think so? However, let’s calculate the volume of trades per day.

With a turnover of $ 100,000, you will receive $200. This is only 13 bitcoins in turnover per day. According to Coinmarketcap, Exmo platform has a $13,996,000 daily turnover. Their daily earnings only on commissions start from $28,000 to $420,000! Not bad? Knowing e-commerce trends can be an actual alternative option to make some money in 2018.

How to Start a Bitcoin Exchange?

What target market do you aim at? Depending on the country, states and their laws, your rep office must have certain permissions. The easiest way to work in those countries that officially allow bitcoin as a means of payment probably Estonia, or even Malta. Belarus have already legalized cryptocurrency, only time shows us how it affect the industry. Iceland and France are well-known countries for extremely low cost of electricity therefore makes cost for mining incredibly low. Venezuela, and other countries in South America as well as some states in the US are also popular for crypto miners. So the very first thing, is to choose jurisdiction for company.

What cryptocurrencies to allow?

The obvious point but yet significant. The more currencies you provide to users, the more audience coverage and more interest to the cryptocurrency exchange platform. Contrary to the erroneous view, 50 cryptocurrencies are not much more difficult to maintain than 3. But at first, we need to integrate them, and this process takes a little while. Once you have dealt with the previous two points of preparation, here is your next one. But you should keep in mind, that every cryptocurrency such as Ripple, Litecoin, Ethereum, Dash, Dogecoin and other need to be integrated manually.

Cryptocurrency Exchange Trading Platform

Preparing and planning are indeed important web development phases before launching almost anything – whether it is as complex as the exchange platform, the SaaS platform, or the website for your business.

Features that cryptocurrency exchnage platform must have

1. Flexibility to customization and scaling
2. Security
3. Easy management
4. Incredibly low delay time for the user

Moreover, each platform consists of separate modules, the so-called layers. Each of which functions independently relying on received data and the exchange interface. For example, the cash flow engine, the service of user processes, the backend, and integration with the UI (frontend). APIs and requests between layers organize connections. Usually, each of them is located on a separate machine/server.

The most important thing is obviously the platform itself, backend. Having it, you can easily scale your business to web applications, desktop apps mobile apps and so on. However, what to choose first a mobile app or website?

Security and Protection

Let’s first find out what common problems, holes, and problems you might be faced with in the security of the system.
1. Unauthorized access to the administrator account (hacking)
2. Access violation to the server
3. Rogue process due to privileges
4. Security issues in external platforms

Users’ accommodations. Personal data security is in the first place, moreover, access to the system must be strictly regulated. Popular tools to protect this layer:
1. Using secure and protected libraries and frameworks
2. Two-factor authentication using Google passcode.
3. Request documents from users (KYC and AML). This item mostly related to exchanges with cryptocurrency to FIAT pairs and vice versa. For pairs cryptocurrency to cryptocurrency doesn’t necessary right now upload documents.
4. Manual confirmation from the administrator of high volume transactions and/or their large amounts

Administrator’s privileges, whether in the crypto-currency exchange built with blockchain technology, which among other things in mobile apps development trends. Any trading platform requires admins. To secure yourself and the system check the following list:
1. Delimit responsibilities and privileges of administrators; create additional groups, and roles. Every person manages only his small part and does not have access to more.
2. Team solution. Administrators from different groups must confirm especially important features.
3. Development and production are at least two separate areas. Limited access for each group. Manual database transfer, which is controlled by executives, CTO for instance.

Malicious processes. Caused by malicious software either due to an intruder.
1. DDoS attacks. Requests must pass through certain servers and be clean for the end project.
2. Firewall vulnerability. They solve quite simply – having a professional system administrator, or an awesome hosting. AWS is probably the best solution at least if you Government allows to host platform in cloud. Otherwise, you have to take a closer look into dedicated server (or servers) with load-balancing.
3. Authorized and protected access.
4. Notification of administrators about suspicious activity.

Technical issues. Sometimes things break down. Software issues or damaged hardware. Everything should be monitored and to have Plan B, as well as a backup in a safe place.
1. Changes, exchange, and trading transactions are calculated, and if something is wrong – there is a return of operations.
2. Validation of sum.
3. Regular backups.
4. Available user log files.
5. Administrative notifications in case of inadequate activity.

Most importantly, in the event of a malfunction, respond as quickly as possible; and be generally notified about it. Therefore, the cost of supporting such projects monthly ranges from $200 to $2000, subject to working with East European Company. If you work with a company from central Europe, the UK or the US – you can safely multiply this cost by 3-5 times, depending on the company. In any case, it is important to know how to choose a web design agency.

How much does it cost to build cryptocurrency exchange platform?

Trading currency exchange is a complex project, unlike a personal website. Team should consist of following persons:
1. Project Manager for 3 months. Responsible for the work in the team, discussions, communication between team and client and actually the project management.
2. QA Engineer for 3 months. To test all possible scenarios and vulnerabilities.
3. Designer for 2 months. Designs an interface, and creates a relationship between users and the crypto-currency platform.
4. UI developer for 3 months.
5. 2-3 Platform Developers for 3 months.

Takeaway: starting cost of developing a crypto exchange is $25,500 working with an agency from Eastern Europe. If you prefer to work with Central Europe, the US or UK based team, be ready to pay 3x times, approximately $320,000 for the same team.

Recent news shows how bitcoin soared up with exchange rate over $18,000 per one bitcoin. Its capitalization takes No.5 position across currencies all over the world. And it seems, became one of the most desired currencies for venture capitalists, hedge-funds, internet entrepreneurs and almost for everyone.

Exmo gained additional 2.11% traffic, and now has strong positions. Almost in every country trading platforms take a position within first 1000 websites. Apparently, it’s not over yet. Financial analytics predict future Bitcoin growth.

Why cryptocurrency volatility is good for exchange?

Cryptocurrency market has a very strong volatility and the crypto exchange rate is highly variable and affects virtually any news. If something related to bitcoin affects it be sure this the same news will affect Ripple (XRP) and even NEO or Stellar. Is it good? Depends on your role. For traders, it provides an opportunity to grow, for cryptocurrency exchange platforms, it increases daily volume. Despite the fact, probably only long-term investments may be lost. But is it absolutely correct? Let’s take a look at past year – bitcoin has been raised almost 340% and highly likely the situation will be same. Analysts predict Bitcoin growth up to USD 60,000!

Guest Post by Nassim Taleb

Foreword to the book by Saifedean Ammous

Let us follow the logic of things from the beginning. Or, rather, from the end: modern times. We are, as I am writing these lines, witnessing a complete riot against some class of experts, in domains that are too difficult for us to understand, such as macroeconomic reality, and in which not only the expert is not an expert, but he doesn’t know it. That previous Federal Reserve bosses, Greenspan and Bernanke, had little grasp of empirical reality is something we only discovered a bit too late: one can macroBS longer than microBS, which is why we need to be careful on who to endow with centralized macro decisions.

What makes it worse is that all central banks operated under the same model, making it a perfect monoculture.

In the complex domain, expertise doesn’t concentrate: under organic reality, things work in a distributed way, as Hayek has convincingly demonstrated. But Hayek used the notion of distributed knowledge. Well, it looks like we do not even need that thing called knowledge for things to work well. Nor do we need individual rationality. All we need is structure.

It doesn’t mean all participants have a democratic sharing of decisions. One motivated participant can disproportionately move the needle (what I have studied as the asymmetry of the minority rule). But every participant has the option to be that player.

Somehow, under scale transformation, emerges a miraculous effect: rational markets do not require any individual trader to be rational. In fact they work well under zero-intelligence –a zero intelligence crowd, under the right design, works better than a Soviet-style management composed to maximally intelligent humans.

Which is why Bitcoin is an excellent idea. It fulfills the needs of the complex system, not because it is a cryptocurrency, but precisely because it has no owner, no authority that can decide on its fate. It is owned by the crowd, its users. And it has now a track record of several years, enough for it to be an animal in its own right.

For other cryptocurrencies to compete, they need to have such a Hayekian property.

Bitcoin is a currency without a government. But, one may ask, didn’t we have gold, silver and other metals, another class of currencies without a government? Not quite. When you trade gold, you trade “loco” Hong Kong and end up receiving a claim on a stock there, which you might need to move to New Jersey. Banks control the custodian game and governments control banks (or, rather, bankers and government officials are, to be polite, tight together). So Bitcoin has a huge advantage over gold in transactions: clearance does not require a specific custodian. No government can control what code you have in your head.

Finally, Bitcoin will go through hick-ups. It may fail; but then it will be easily reinvented as we now know how it works. In its present state, it may not be convenient for transactions, not good enough to buy your decaffeinated expresso macchiato at your local virtue-signaling coffee chain. It may be too volatile to be a currency, for now. But it is the first organic currency.

But its mere existence is an insurance policy that will remind governments that the last object establishment could control, namely, the currency, is no longer their monopoly. This gives us, the crowd, an insurance policy against an Orwellian future.

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18 thoughts on “Bitcoin”

Well, I am certainly in agreement that the “experts” are complete morons, outright thieves, or both, but Bitcoins reliance on technology concerns me, and I support article 1, section 8, clause 5 of the constitution and cash and coins. People mis-attribute the precipitous decline of the dollars value to the misconception that the dollar is a fiat currency, which it is not. It is linked to oil, which is stupid, and of enormous benefit to the Rockefellers as it was when Nelson Rockefeller worked in collusion with Henry Kissinger to institute the Petro dollar. Linking the dollar to a resource guaranteed to diminish in supply, guarantees inflation by the very laws of supply and demand! There is also not enough gold in the world to have a viable gold standard that wouldn’t be predestined to cause the entire economy and country to collapse relatively quickly either! There are 165,000 metric tons of gold in existence. Governments own 18% of that. If every individual on earth had an equal amount of gold, it would be the equivalent of five gold rings per person, so it would have to be smaller than a spec of dust!

How to Give a Central Banker a Nervous Breakdown in 13 Minutes – Andrea Iravani

Reprice gold to 100,000 dollars an ounce. Voila, enough gold to be used for transactions worldwide.

Another reason not to go Bitcoin, I will consider Wired Magazine, the most credible source on this:
https://www.wired.com/2017/08/the-confessions/

I was also unaware that there have been at least three dozen bitcoin heists since 2011!

Anyone dismissing Taleb out of hand is probably making a mistake. I’m not sold on Bitcoin (yet) but it is clear that the future will be more decentralized. Taleb and Martin Armstrong, two people with a rather impeccable track record, both arrive at this conclusion from different angles.

Alfred 1860- I’m dismissing bitcoin as a national currency, for the reasons that I stated.

“…didn’t we have gold, silver and other metals, another class of currencies without a government? Not quite. When you trade gold, you trade “loco” Hong Kong and end up receiving a claim on a stock there, which you might need to move to New Jersey…”

Well, that’s about correct as far as you describe it, but you aren’t really talking about physical metals anymore.
Since the price of physical metals is tied to the price of “paper” or the promise of metals, the powers that be are currently able to set the price of gold and silver.
Ever hear of the London Gold Fix, now the LBMA?

So, yeah, maybe we used to have gold & silver, and maybe to some extent we still do.

I think it’s complete bullshit. Is there a market to convert bitcoin to any country’s legal currency? NO!

The exchanges exist, in part, to convert bitcoin to/from many countries (maybe all, not certain – likely varies by exchange) legal currency. Some are better than others at doing this in a timely manner.

Not endorsing any of these exchanges, just pointing out that they exist and perform the function of converting national currencies to and from cryptocurrencies.

The issue faced by cryptocurrencies is that the bankers love the control they have under their system, and will actively work as a unified force to destroy anything that threatens their power.

Don’t think that I am disagreeing with most of what is presented. I do agree with all of his points. But I don’t see that having bitcoin takes any power away from the ruling junta. All evidence that I see seems to point to the fact that their power is increasing and your power is decreasing. The way I see it, bitcoin is allowed to exist because they are either experimenting with the acceptance of digital currency or because it is too insignificant to bother with. If a digital currency gets too powerful, say powerful enough to be a finger on the scale, then they can shut it down just as fast as they shut down your twatter feed.

Hollywood Rob- I think that they are allowing it because they have been mining it. Not sure how old you are, but it took me decades to realize that their only motives are power and money, since those were never my motives. People tend to default to the principal that others have the same motives and logic as themselves. It also took me decades to realize that neither of those are a given. I refused to believe that anyone would ever go to war for oil, because I never would.

“Mining” in the beginning used to be solving puzzles, but mining of bitcoin today is nothing more than the back office processing of bitcoin transactions. And it isn’t the government doing it – it is a handful of huge IT operations in China, Iceland, Romania and a few other areas with super cheap electricity.
Furthermore the cost is so high that it makes credit cards look cheap by comparison – even at the merchant side.

“No government can control what code you have in your head.”

Maybe it was in my head at one time, but now it has been entered into a machine and sits just waiting for the zeroes and ones to be hacked.

Governments will spend any amount and entice anyone to hack into that system.

BTC is a shitshow… a pooling system that rewards the early buyers. Its EXACTLY like holding a work of “art” as an investment. One buys a piece at $1M and believes that someone should pay $1M+ for it over a given amount of time. Bitcoin is no different except that there are many pieces all valued at the pooled pot of $ that everyone threw in at varying prices. How anyone can invest in something that is valued in the basic formula of [total available / total money in pool ] = price per coin … I have no idea. this isnt an investment … DRIPs are investment because they are based on available profit made from selling an actual profit. Bitcoin is like a pooled borrowing scheme, only you hope that someone pools in money at a higher price than you did and that you can actually get that money out when you want it.

I’ve said for years, and in every TBP bitcoin-related posting I’ve seen, that BTC is just “nerd art”.

Yet more proof that Taleb should stick to what he actually knows: long tail financial derivatives.
Here’s some data on Bitcoin:
1) 1 in 7 of all major cryptocurrencies has been stolen.
2) 1 in 3 major cryptocurrency exchanges has been hacked
3) Bitcoin and most of its brethren can handle a maximum of 7 transactions per second (tps). Visa averages 4000 tps with a 65000 maximum. Paypal is over 130. A few of the newer cryptocoins can theoretically go up to 50.
4) Bitcoin transaction costs are averaging well over $20, up to $50 per transaction

The arguments Taleb presents are that Bitcoin must be superior because ” it has no owner, no authority that can decide on its fate. It is owned by the crowd, its users. And it has now a track record of several years, enough for it to be an animal in its own right.”

Bitcoin has an owner: the consensus. And who controls the consensus? A handful of miners.
And it has an authority: the software programmers behind it. It isn’t “owned” by the crowd, it is “used” by the crowd because the miners extract transaction payments (and will forever) from the crowd while the programmers can (and have) forked the code to change fundamental bitcoin characteristics. Other cryptocoins have rolled back transactions in the hundreds of millions of dollars level.
In fact the miners’ impact on Bitcoin is severely underplayed. If a magic wand were to be waved and bitcoin value frozen (at whatever point), the miners would still continue to extract enormous value because they get paid with literally every single transaction. You move your bitcoin from one of your wallets to another? They get paid. You buy something? They get paid. Some of this payment is totally legitimate because the miners expend enormous amounts of electricity to execute the back office operations of bitcoin blockchain consensus.
Bitcoin uses more electricity than all but 59 nations on Earth.
The miners wouldn’t support bitcoin operations through payment of this cost if there weren’t a permanent profitability feature built into the system.
And so how is this different than a credit card, a fiat currency or any other financial instrument?
The main difference is in the omissions. You get no refunds if you lose your bitcoin. You get no protections if you’re hacked or otherwise swindled out of your bitcoin. You get no reliable storage of value. The list goes on and on and on.

Bitcoin plattform

Make the world a better place

Bitcoin God is a borderless non-profit peer-to-peer organization. Our vision is to leverage a decentralized platform to solve the many problems created by existing centralized system. Bitcoin God as a blockchain based network will enable tracking of each ledger transaction in a transparent and clear fashion. The token holders of Bitcoin God can pinpoint whoever they are trying to help via our peer-to-peer blockchain accurately. Bitcoin God is a completely self monitored decentralized community. The community will decide on the quantity and receivers of its tokens. The tokens mined each day will be used for charitable purposes, out of which, 17 million will be airdropped to the current holders of Bitcoins (close to the outstanding amount of BTC). In the remaining 4 million tokens, 400 thousand tokens will be used as POS mining rewards, the other 3.6 million tokens will be used to airdrop for charity. The process will be via users sharing their wallet address to our social network, and the community will vote to decide on the ratio and amount of airdrops. Bitcoin God will become the first charity platform built on a blockchain. Our goal is to fill the world with love and make the world a better place!

Advantages

(The user is God. The management authority of Bitcoin God (GOD) does not belong to anyone but the community users.)

Smart contract

With smart contract technology, we can issue assets and build applications on the blockchain, which makes GOD a token of value and utility.

Large block size

Implemented to solve the notorious network congestion problem and to increase practical value, the Bitcoin God network will be the most efficient and smooth digital currency network.

POS mining

POS makes professional mining machine unnecessary for users and reduces the power consumption. POS is more of true decentralization than POW mining.

Lightning Network

Real-time and mass trading networks can be realized without trust issues of third parties.

Zero- knowledge proof

Implemented to provide confidentiality of paymentпјЊwhile enabling the public blockchain to maintain a decentralized network.

Total distribution: 21 million.

All holders of Bitcoin will receive an equal proportion AirDrop of GOD tokens.

The remaining tokens will be distributed to GOD token holders and networks through POS mechanisms.

Daily output will be distributed to community users nal tokens.

The Bitcoin GOD foundation prohibited the issuance of additional tokens.

2017 Dec.25th(approximately) To be forked at block height 501225

2018 Q1 Network launch

2018 Q3 Add Smart contract to the blockchain. Bitcoin God DApp on Mobius Network.

2019 Q1 Implement zero-knowledge proof

Afterwards Maintained and developed by community and users

Technical Support

Many exchanges have expressed their support

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Your search engine does not find any satisfactory results for searches. It is too weak. Also, the server of bing is often off

I created a yahoo/email account long ago but I lost access to it; can y'all delete all my yahoo/yahoo account except for my newest YaAccount

I want all my lost access yahoo account 'delete'; Requesting supporter for these old account deletion; 'except' my Newest yahoo account this Account don't delete! Because I don't want it interfering my online 'gamble' /games/business/data/ Activity , because the computer/security program might 'scure' my Information and detect theres other account; then secure online activities/ business securing from my suspicion because of my other account existing will make the security program be 'Suspicious' until I'm 'secure'; and if I'm gambling online 'Depositing' then I need those account 'delete' because the insecurity 'Suspicioun' will program the casino game 'Programs' securities' to be 'secure' then it'll be 'unfair' gaming and I'll lose because of the insecurity can be a 'Excuse'. Hope y'all understand my explanation!

I want all my lost access yahoo account 'delete'; Requesting supporter for these old account deletion; 'except' my Newest yahoo account this Account don't delete! Because I don't want it interfering my online 'gamble' /games/business/data/ Activity , because the computer/security program might 'scure' my Information and detect theres other account; then secure online activities/ business securing from my suspicion because of my other account existing will make the security program be 'Suspicious' until I'm 'secure'; and if I'm gambling online 'Depositing' then I need those account 'delete' because the insecurity 'Suspicioun' will program the casino game 'Programs' securities' to be… more

chithidio@Yahoo.com

i dont know what happened but i can not search anything.

Golf handicap tracker, why can't I get to it?

Why do I get redirected on pc and mobile device?

Rahyaftco@yahoo.com

RYAN RAHSAD BELL literally means

Question on a link

In the search for Anaïs Nin, one of the first few links shows a picture of a man. Why? Since Nin is a woman, I can’t figure out why. Can you show some reason for this? Who is he? If you click on the picture a group of pictures of Nin and no mention of that man. Is it an error?

Repair the Yahoo Search App.

Yahoo Search App from the Google Play Store on my Samsung Galaxy S8+ phone stopped working on May 18, 2018.

I went to the Yahoo Troubleshooting page but the article that said to do a certain 8 steps to fix the problem with Yahoo Services not working and how to fix the problem. Of course they didn't work.

I contacted Samsung thru their Samsung Tutor app on my phone. I gave their Technican access to my phone to see if there was a problem with my phone that stopped the Yahoo Search App from working. He went to Yahoo and I signed in so he could try to fix the Yahoo Search App not working. He also used another phone, installed the app from the Google Play Store to see if the app would do any kind of search thru the app. The Yahoo Search App just wasn't working.

I also had At&t try to help me because I have UVERSE for my internet service. My internet was working perfectly. Their Technical Support team member checked the Yahoo Search App and it wouldn't work for him either.

We can go to www.yahoo.com and search for any topic or website. It's just the Yahoo Search App that won't allow anyone to do web searches at all.

I let Google know that the Yahoo Search App installed from their Google Play Store had completely stopped working on May 18, 2018.

I told them that Yahoo has made sure that their Yahoo members can't contact them about anything.

I noticed that right after I accepted the agreement that said Oath had joined with Verizon I started having the problem with the Yahoo Search App.
No matter what I search for or website thru the Yahoo Search App it says the following after I searched for
www.att.com.

WEBPAGE NOT AVAILABLE
This webpage at gttp://r.search.yahoo.com/_ylt=A0geJGq8BbkrgALEMMITE5jylu=X3oDMTEzcTjdWsyBGNvbG8DYmyxBHBvcwMxBHZ0aWQDTkFQUEMwxzEEc2VjA3NylRo=10/Ru=https%3a%2f%2fwww.att.att.com%2f/Rk=2/Es=plkGNRAB61_XKqFjTEN7J8cXA-
could not be loaded because:
net::ERR_CLEARTEXT_NOT_PERMITTED

I tried to search for things like www.homedepot.com. The same thing happened. It would say WEBPAGE NOT AVAILABLE. The only thing that changed were all the upper and lower case letters, numbers and symbols.
Then it would again say
could not be loaded because:
net::ERR_CLEARTEXT_NOT_PERMITTED

This is the same thing that happened when Samsung and At&t tried to do any kind of searches thru the Yahoo Search App.

Yahoo needs to fix the problem with their app.

Yahoo Search App from the Google Play Store on my Samsung Galaxy S8+ phone stopped working on May 18, 2018.

I went to the Yahoo Troubleshooting page but the article that said to do a certain 8 steps to fix the problem with Yahoo Services not working and how to fix the problem. Of course they didn't work.

I contacted Samsung thru their Samsung Tutor app on my phone. I gave their Technican access to my phone to see if there was a problem with my phone that stopped the Yahoo Search App from working. He went to Yahoo and… more