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Bitcoin and what Nxt

17/03/2016 @ 7:30 pm - 11:00 pm

Bitcoin.wikimedia-org.svg

Or how to monetize your bits? 😛

  • What is Bitcoin?
  • How does it work?
  • Why?
  • And what and why for “NXT”?…

Nxt-logo-vector-yellow.wikimedia-org.svg

 

We are honoured with some informal insights from our speaker Neal for what comes next for some parts of cryptocurrency.

But can it buy us all a round of drinks?… Come along to find out!

 

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All at our usual inspirational and convivial venue! (As is detailed below, 7:30pm meetup.)

All welcome,

See ya there 🙂

 

Further details:

“Nxt” is the platform for the “NXT” currency.

The future of Nxt is actually in the balance at the moment and there’s a forum bunfight going on at nxt-2-0-design over the direction to take with Nxt 2.0. The lead developers (Jean-Luc and Riker) want to reduce the main Nxt blockchain to a ‘child chain’ and create a new main chain, with the focus on having one new main chain and potentially many child-chains. Interesting, yet scary stuff for those of us who have a few NXT coins!

We’ll go through an informal chat about how blockchains work, with a brief demonstration of a Bitcoin lite wallet and the Nxt wallet.

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Details

Date:
17/03/2016
Time:
7:30 pm - 11:00 pm
Event Category:

Venue

The Organ Grinder
21 Alfreton Road
Canning Circus, Nottingham NG7 3JE United Kingdom + Google Map
Phone:
0115 9700630
Website:
www.bluemonkeybrewery.com/pubs/organ-grinder-nottingham

4 comments to Bitcoin and what Nxt

  • Martin L
    12/04/2016 at 2:02 pm

    A good overview of how Bitcoin-like cryptocurrency is such a game-changer is given by The Register in an unusually deadpan way:

    Cash, fear and uncertainty: The Holy Trinity of Bitcoin and blockchain

    The Snowden factor unnerving your bank

    … quite emotive because although it’s all open source and open standards, it’s all about “money,” and that gets everyone excited…

    All change for your spare change?…

  • neal
    19/06/2016 at 7:39 am

    The Bitcoin block reward halving is almost upon us, chaps!

    For those that don’t know: Satoshi engineered a reward halving into the protocol, which reduces the reward of mining the next block by half every four years. This is to ensure that there will eventually only ~21 million Bitcoins in existence, which will occur in or around about the year 2140 I believe.

    The current reward for finding a block is 25 BTC and that is due to reduce to 12.5 BTC next month. Ther is a countdown timer to the reward halving here:

    https://bitcoinclock.com/

    The already crazily speculative world of cryptocurrency has gone wild recently: some thinking that the price of Bitcoin will go “to the moon” next month. The more sensible option is that it will blip and return back to normal. But no-one really knows, such is the frontiersman nature of the crazy crypto world.

    The recent speculative hype can be viewed here:

    https://bitcoincharts.com/charts/bitfinexUSD#rg90ztgMzm1g10zm2g25zv

    Cheers,

    Neal.

  • Martin L
    23/12/2016 at 2:16 pm

    With the continued democratizing of moving money:

    Bitcoin enjoys end of year price surge

    The value of the Bitcoin virtual currency has hit a three-year high with each one now worth about $900 (£730).

    At the start of 2016, single coins were only worth around $435 but their value has climbed steadily all year. … Experts said the rise in value was linked to the long-term depreciation of the Chinese Yuan.

    The Chinese currency has dropped about 7% in value during 2016, said Reuters. The majority of Bitcoin currency trading takes place in China as it allows people to skirt restrictive local laws that limit how much money Chinese people can swap…

     

    What price is freedom?

  • Martin L
    21/08/2018 at 2:07 pm

    … And Bitcoin and a great plethora of others wobble a lot… All too much?

    Bitcoin buster? The search for a more stable cryptocurrency

    Cryptocurrencies – digital tokens known as cryptos for short – have investors in the grip of a gold rush fever, with billions being traded every day. Prices fluctuate wildly, making them high-risk investments. But could a more stable, less volatile crypto persuade us to think of digital money less as a speculative investment and more as a mainstream “smart” currency?

    There are now more than 1,500 cryptos – Bitcoin, Bitcoin Cash, Ethereum, Litecoin to name just a few – being traded on about 190 exchanges around the world.

    Prices have soared and crashed alarmingly. In 2017 the price of a bitcoin rocketed to nearly £15,000 before losing two-thirds of its value in just a few months. It’s currently worth about £5,000.

    This volatility may be a speculative trader’s friend, but…

    … if stablecoin cryptos do become as mainstream as fiat currencies, will the system be able to cope with the volume?

    Many fear blockchain is getting slower and in danger of seizing up altogether. Ethereum, one of the most popular blockchain platforms, is only able to process about 13 transactions a second, whereas card payment processing platform Visa can cope with more than 20,000 transactions a second.

    This is why work is afoot to create more flexible blockchain-based platforms, such as EOS and Stellar, that could cope with a vast increase in transaction volume and millions more users.

    Coinage, and the practice of IOUs and Promissory Notes (and other abstractions), have been in use for thousands of years now. Will various blockchain cryptocurrencies really be promoted to the abstract status of Legal Tender any time soon?

    After only such a brief evolution from the old systems of barter to instead use abstract currency, really are the users ready for their finances to go into the further abstraction of the brave new world of cyber-crypto-meta-abstractions?…

    All a good bet?! 😛

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