Turbotodd

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

Posts Tagged ‘bitcoin

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

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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