Bitcoin slots a fun las vegas nv, bitcoin slots offers

What a legend. Some dude calls out the author of Forbes article and offers him a 100 BTC wager on Bitcoin hitting $1,000 before it hits $100.

This piece, is nothing more than rubbish written from ignorance. The author’s statement, “Look no further than the major exchanges, which have either gone bankrupt (Mt. Gox) or suffered major security lapses (Bitstamp). Both of which cost investors millions of dollars in unrecoverable losses.” (No losses were realized by any depositors using Bitstamp). Moreover the author fails to see past the price of a Bitcoin and seems to measure the future success of the Bitcoin/Blockchain protocol in the valuation of one Bitcoin. For those who seek profits trading Bitcoins, there is money to be made buying (long positions) or selling (selling short) and as with any commodity/currency/stock, professional traders who seek short term gains are able to take advantage of market conditions an a day to basis. However the long term future of Bitcoin and the blockchain remain unaffected by the price. To think that is short sighted to say the least. Only time will tell where this nascent technology will take us, but be assured the the final chapter is no where near being written. Long term prospects for both the price of a single Bitcoin and the future of the underlying technology are looking brighter than ever. I would be happy to offer the writer of this article a friendly wager. And I am so confident in so much as I am willing to put my Bitcoins where my mouth is. I’ll wager 100 Bitcoins, that the price of one Bitcoin will reach $1,000 USD before it trades below $100 USD. Show me how confident you are. I’m on linkedin if you want to take my Bitcoins. Meet you in Las Vegas to settle, wouldn’t want to break any law prohibiting gambling now would we?
submitted by LeeWallis to Bitcoin [link] [comments]

Agreement with Satoshi – On the Formalization of Nakamoto Consensus

Cryptology ePrint Archive: Report 2018/400
Date: 2018-05-01
Author(s): Nicholas Stifter, Aljosha Judmayer, Philipp Schindler, Alexei Zamyatin, Edgar Weippl

Link to Paper

The term Nakamoto consensus is generally used to refer to Bitcoin's novel consensus mechanism, by which agreement on its underlying transaction ledger is reached. It is argued that this agreement protocol represents the core innovation behind Bitcoin, because it promises to facilitate the decentralization of trusted third parties. Specifically, Nakamoto consensus seeks to enable mutually distrusting entities with weak pseudonymous identities to reach eventual agreement while the set of participants may change over time. When the Bitcoin white paper was published in late 2008, it lacked a formal analysis of the protocol and the guarantees it claimed to provide. It would take the scientific community several years before first steps towards such a formalization of the Bitcoin protocol and Nakamoto consensus were presented. However, since then the number of works addressing this topic has grown substantially, providing many new and valuable insights. Herein, we present a coherent picture of advancements towards the formalization of Nakamoto consensus, as well as a contextualization in respect to previous research on the agreement problem and fault tolerant distributed computing. Thereby, we outline how Bitcoin's consensus mechanism sets itself apart from previous approaches and where it can provide new impulses and directions to the scientific community. Understanding the core properties and characteristics of Nakamoto consensus is of key importance, not only for assessing the security and reliability of various blockchain systems that are based on the fundamentals of this scheme, but also for designing future systems that aim to fulfill comparable goals.

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