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What is Bitcoin?

Finland has just given itself a 100th birthday present: a library

These are the most expensive cities in the world

Chart of the day: When do young Europeans leave home?

In 2010, financial history was made when someone bought a pizza. If you haven’t heard about this groundbreaking event, don’t worry, you're not the only one.

The pizza wasn’t the important part of the transaction - it was what was used to pay for it. The meal cost 10,000 bitcoins and was the first time the virtual currency was used to buy something in the real world. The day is now celebrated every year by bitcoin enthusiasts as Bitcoin Pizza Day.

Things have come a long way since then. Bitcoin’s use and value have soared. If that diner had held onto those 10,000 bitcoins they may not have made history, but they would be around $20 million better off today.

In March this year, the price of one bitcoin climbed above the price of one ounce of gold for the first time.

Bitcoin’s increasing value is due to the fact that its popularity has rocketed in recent years. In 2009, there were fewer than 10,000 transactions in bitcoin. By January this year that number had trebled. Analysts put this down to the fact that investors think it will hold its value better than some other investments, as well as the fact that it has become increasingly popular in Asia.

But let’s take a step back. What is bitcoin?

It’s a cryptocurrency, which means it exists only in the digital world.

It was developed in 2009 by someone – we still don’t know who for sure – using the name Satoshi Nakamoto and is based on a payment system that allows one person to pay another, without the need for any middle parties, such as banks.

There is only a limited number of bitcoins in circulation and new bitcoins are created at a predictable and decreasing rate.

How does it work?

A person holds their bitcoins in a bitcoin wallet - in a mobile app or computer - and can send and receive bitcoins through it.

They get the bitcoins in the first place by accepting them for a good or service, or from an exchange, where they swap real money for bitcoins at the prevailing exchange rate.

Every bitcoin user has their own address - a bit like a bank account number - and controls all the bitcoins coming in and out of that address.

The bitcoin transactions run on a system called blockchain. This is a public ledger, which holds a record of every single transaction.

The other person receives the bitcoins once the transaction is verified. This verification involves solving a complicated mathematical problem, a process called “mining”, and anyone with a powerful enough computer system can do it.

What do I do with my bitcoins?

You can spend them, either on the internet at places such as WordPress and Reddit, or at establishments that accept the currency.

When you want to turn your bitcoins into real money, you trade them on an exchange.

Whilst you’re unlikely to be able to use them at your local grocer yet, some say it is only a matter of time. There is now a Bitcoin Visa Debit card which makes spending them easier.

You don’t have to understand the process of bitcoin in order to start using it, after all, few understand the inner workings of a bank.

The problems

But not everything is rosy in the bitcoin world.

There is a limit to how many transactions can be processed in a given time-frame, and the increase in transactions has meant a slowing down of payments.

For years, those involved in bitcoin’s software development have argued over how to overcome its capacity problems. That problem is still not solved.

But there are more mundane problems, like the fact that it suffers from price fluctuations.

And, like any software based system, it’s also vulnerable to attack.

Then there is the matter of how different countries treat the currency. Some treat it as a commodity, like oil or gold, but others treat it like money. Some prohibit its use entirely.

Governments don’t like the fact that bitcoin users are anonymous, and they have concerns over its use for criminal activity and money laundering.

Their worries aren’t unfounded. In the recent ransomware attack, WannaCry hackers demanded bitcoins as payment, and so far $80,000 has been paid out.

The EU wants to be able to identify bitcoin users in the name of preventing money laundering and terrorist financing.

In addition, the whole system is not highly regulated. Partly, this is because any developer in the world can verify exactly how bitcoin works. The bitcoin protocol itself cannot be modified without the cooperation of nearly all its users, who choose what software they use.

Even where regulation exists it is not always clear.

Some say that the uncertainty over regulations will get in the way of bitcoin growing.

Is it here to stay?

Bitcoin is not the only cryptocurrency, lots of others have entered the market - over 200 of them. Whilst bitcoin is still the leader, Ethereum, Ripple and NEM and many others also exist.

The Economist thinks that we’re in a cryptocurrency bubble from where the only way is down.

Even some of those who work intimately with bitcoin say it is going to be a failure.

But according to a website that tracks bitcoin “obituaries”, the currency has already “died” - ie been predicted to fail - 106 times. And a newly published study says that bitcoin and other cryptocurrencies are no passing fad.

World Economic Forum Bitcoin Discussions “Validate the Movement”

The World Economic Forum (WEF) has long been a lightning rod of global discussion on economic, social and political trends. This year’s gathering in Davos, Switzerland, was no exception.

Blockchain technology emerged center stage last week as a key discussion theme, receiving praise from attendees for its cutting-edge potential. Bitcoin and the future of cryptocurrencies, too, were highly discussed topics at the forum, not just casually but also in an official session and a few panel discussions. There, cryptocurrencies were the subject of intense debate among looming questions about its long-term viability and worth.

Ahead of Davos, Nobel Prize–winning economist Robert Shiller joined a growing chorus of prominent Bitcoin naysayers, telling CNBC that Bitcoin “might totally collapse and be forgotten and I think that’s a good likely outcome[,] but it could linger on for a good long time, it could be here in 100 years."

Chatter surrounding Bitcoin’s reputation as a haven for illicit activities persisted among WEF attendees as well. Christine Lagarde, managing director of the International Monetary Fund, said during a panel discussion: “The fact that the anonymity, the lack of transparency and the way in which it conceals and protects money laundering and financing of terrorism and all sorts of dark trades is just not acceptable.”

In a brief interview by email with Bitcoin Magazine , WEF Member Jennifer Zhu Scott offered an alternative perspective to Shiller, Lagarde and others regarding Bitcoin’s meteoric rise and future possibilities.

“Most of the status quo are still in denial. But we are at the cusp of a complete transformation of the financial industry. The fact we are even talking about it at Davos is already a validation of progress within the [Bitcoin] movement.”

Zhu Scott is the founding principal at Radian Partners and Radian Blockchain Ventures , a firm that targets private investments in artificial intelligence and the blockchain and their applications to climate-change-related projects such as solar infrastructure and carbon-credit trading.

She said that Shiller lacks a comprehensive understanding of the underlying (blockchain) technology and its economic implications. According to Zhu Scott, Shiller’s comments on Bitcoin and those who believe in it were based on impressions instead of sound research.

“One common mistake the status quo often makes is to judge Bitcoin as the destination of the digital asset movement. For while it has certainly caught people’s imaginations, we are only seeing the very early stages of it,” said Zhu Scott, who was an active participant at this year’s forum.

She was quick to offer the reminder of how messy the internet was back in the 1990s, particularly with respect to its application to business. “Look back at those who said, ‘Because the dot-com boom is a bubble, the internet will go nowhere.’ They now sound silly. But people are making these same mistakes.”

Zhu Scott was particularly taken aback by Shiller’s highly critical comments onstage, where he stated that Bitcoin enthusiasts are “selfish” and “in it for money.”

“It would have been like me asserting that his economic theories were hurting the little guys without understanding what GDP was. Those with a voice, such as Shiller and the other Nobel Laureates, have a responsibility to look beyond the noise and understand the fundamental shift that is happening.”

All debate aside, Zhu Scott says that the fact that we are still talking about Bitcoin after almost a decade, and the fact that Bitcoin is still alive and thriving, proves that it’s a powerful idea.

“The debate at Davos this year was important as it offers a pragmatic view on Bitcoin and the token economy,” said Zhu Scott. “It was an opportunity to acknowledge its weaknesses while also inspiring people to focus on its potential. To me, Satoshi Nakamoto’s gift to the world will likely have a much larger impact on the future monetary reality than any of the Nobel Laureates who feel so urged to offer conclusions.”

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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!

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.