Turbotodd

Ruminations on tech, the digital media, and some golf thrown in for good measure.

Archive for the ‘bitcoin’ Category

You Don’t Know Me

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Bloomberg is reporting that Apple is having production problems for the new iPhone X due to the sophisticated requirements of its new facial recognition technology, and is said to have told suppliers they could reduce the accuracy of the face recognition technology to make it easier to manufacture.

The iPhone X is set to debut on November 3.

Also on the Apple Beat…Apple has acquired ten-year-old Auckland-based wireless charging company, PowerbyProxi, for an undisclosed sum, and according to Stuff Technology, plans on keeping the company powered up in New Zealand.

Meanwhile, if you’re not confused yet about the continuing evolution of bitcoin, there’s a new fork of forks. Blockchain firm Bloq (see what they did there with the name?) indicated it has created a rival to bitcoin called “Metronome” that will go on sale in December, according to Fortune.

Today, bitcoin faces existential threats from forks, developer drama and so on. Knowing what we know and having a clean sheet of paper, we asked what what would we build and the answer is this. Jeff Garzik, CEO of Bloq and a longtime bitcoin developer.

Written by turbotodd

October 25, 2017 at 10:47 am

Blockchain Mo’

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The cryptocurrency momentum continues in spite of a fluctuating Bitcoin, suppression in China, and JPMorgan CEO Jamie Dimon’s recently professed skepticism about the fate of cryptocurrencies.

Dimon warned that “governments will eventually crack down on cryptocurrencies and will attempt to control it by threatening anyone who buys or sells bitcoin with imprisonment.”

Of course, we have to separate the emerging digital currencies themselves from the underlying blockchain technology that makes currencies like bitcoin work.

Just today, Fortune’s “The Ledger” blog reported that Oracle has introduced blockchain cloud services to help its clients link their existing inventory and supply chain software to a secure, distributed transaction system.

And Juniper Research recently released a report that indicated IBM is leading the way on blockchain tech, with more than 40 percent of tech execs and leaders in the blockchain sector ranking IBM at the top.

Go here to learn more and to get started with the IBM Blockchain Platform.

Written by turbotodd

October 3, 2017 at 9:48 am

A Bit of a Bitcoin

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Happy Thursday.

CNBC is reporting that Bitcoin has gone back into freefall, down 7 percent after one of the biggest Bitcoin exchanges in China indicated it would be shutting down its operation.

BTC China said it will close by September 30th, as Chinese authorities crack down on cryptocurrencies.

Earlier this month, China regulators banned companies from raising money through initial coin offerings, or “ICOs,” and since that time, Bitcoin has fallen some 20 percent.

In other news concerning China, Bloomberg is reporting that President Donal Trump has blocked a Chinese-backed investor from buying Lattice Semiconductor Corp., only the fourth time in a quarter century that a U.S. president has ordered a foreign takeover of an American firm stopped on national security concerns.

Secretary of Treasury Steven Mnuchin had this to say:

“Consistent with the administration’s commitment to take all actions necessary to ensure the protection of U.S. national security, the president issued an order prohibiting the acquisition.”
– via Bloomberg.com

Lattice shares were down as much as 1.7 percent on the blocked sale.

According to Bloomberg’s report, Lattice makes programmable logic chips which have a vaiety of uses, including in communications, computing and industrial and military applications.

Written by turbotodd

September 14, 2017 at 9:01 am

No Yuan

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First China banned initial coin offerings.

Now Chinese authorities plan to shut down domestic bitcoin exchanges, writes The Wall Street Journal, which it claims will deliver “a final blow to a once-thriving industry of commercial trading for virtual currencies.”

Apparently regulators have been investigating bitcoin and other virtual currencies since the beginning of the year, but when it became evident that Chinese investors used bitcoin as a short against the promise of a falling yuan…well, you do the math.

Bloomberg reports separately that China is home to nearly a quarter of the the world’s bitcoin trades, but that this move by the Chinese authorities will “definitely slow the development of cryptocurrencies in China.”

The move can be viewed in the larger context of a broad clampdown on financial risk as we draw closer to next month’s 19th National Congress of the Communist Party of China.

Bitcoin users will still be able to trade cryptocurrencies in China without exchanges after this move, but the process is likely to be slower and come with increased credit report, says Bloomberg.

Written by turbotodd

September 11, 2017 at 9:09 am

Posted in 2017, bitcoin, blockchain, china, crytocurrency

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