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Bitcoins

Bitcoins

Bitcoin collecting has caused a wave of supercomputers techies hoping to make them a small fortune – even if it costs load of cash to power.

Specially developed Bitcoin ‘mining’ computers are either homemade or can be purchased from one of the growing number of online stores dedicated to cashing in on the supply side of the cult currency trend.

The 21 million Bitcoins hidden across an internet-based network,  are expected to all be found by 2040. To unearth them computers have to solve the complex processor-intensive equations which hold them.

What is a Bitcoin?

It’s a piece of data locked in an internet-based network by a complex equation computers can break.

Once released it can be traded and used like money online and can be purchased with real cash.

Many websites are now taking Bitcoins as a form of currency. As well as digital currency, Bitcoin miners enjoy the competitive nature of unlocking the coins.

Famous fans include the Winklevoss twins who own around 1 percent of Bitcoins – currently worth around $11million

It has been dismissed by some as a Ponzi Scheme and touted by others as the future of money. It is not centrally controlled and it’s unique and complex set up means the market cannot be altered or hacked, according to the developers

There are 21 million coins predicted to last until 2140 and their finite nature means they perform more like a commodity, such as gold. The coins first emerged in 2008 and launched as a network in 2009.

They were introduced by an obscure hacker whose identity is a mystery but is known as Satoshi Nakamoto, which is thought to be a pseudonym. Users choose a virtual wallet from one of the various providers which enables them to receive, give and trade coins from other users.  Bitcoins can be bought from specialist currency exchanges and online marketplaces such as eBay. Bitcoins mining machines can unlock many of the potentially lucrative coins – essentially computer codes – which are then used as currency online making their collectors potentially very rich.

The Bitcoin network, set up by a mysterious programmer under the pseudonym Satoshi Nakamoto in 2009, is also designed to get more complex the more miners there are looking for Bitcoins – opening the potential for ever-developing mining machines.

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World Wide Web For Robots

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Petition To Unlock Cell Phones Update

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The  petition asking President Obama to oppose a new rule restricting cell phone owners from unlocking their devices has passed the 100,000 signatures needed, meaning the White House now must respond.

The petition,  that now has more than 102,000 signatures, protests a regulation from the Library of Congress that prohibits unlocking phones without the carrier’s permission — even when a customer’s contract with the carrier has expired.

CTIA general counsel Michael Altschul wrote in a blog post  It “makes our streets just a little bit safer by making it harder for large-scale phone trafficking operations to operate in the open and purchase large quantities of phones, unlock them, and resell them in foreign markets”.

The petition is partly symbolic: The Library of Congress and the U.S. Copyright Office are part of the legislative branch, not the executive branch, meaning that Obama cannot overturn the decision even if he disagreed with it.

Congress has the power to rewrite the law, the 1998 Digital Millennium Copyright Act, which hands the Library of Congress the effective power to regulate certain gadgets in the name of copyright law. And a nudge from the administration would speed up any DMCA legislative fixes. Under the DMCA, Americans are broadly prohibited from “circumventing” copyright-related technologies, with criminal penalties targeting people who profit from doing it. But the DMCA gives the Library of Congress the authority to grant exemptions, which it did for cell phone unlocking utilities in 2006 and 2010.

The Library of Congress reversed their position last fall, after lobbying from CTIA, which represents carriers including AT&T, Verizon Wireless, T-Mobile, and Sprint Nextel. It ruled (PDF) the exemption was no longer necessary because there are no “adverse effects” relating to locked phones, and unlocked phones are now readily available.

The Library of Congress’ regulatory turn around doesn’t affect jail breaking or rooting mobile phones, which is currently permitted through at least 2015.

 

Petition To Unlock Mobile Phones

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There’s a Petition to reverse a decision by the Library of Congress making the unlocking of mobile phones illegal that needs 15,000 more signatures by Saturday.

Over 85,000 people have signed a Whitehouse.gov petition asking President Barack Obama to reverse a decision by the Library of Congress making the unlocking of mobile phones illegal under the Digital Millennium Copyright Act (DMCA).

As of Wednesday morning, the petition, started by phone unlocking entrepreneur Sina Khanifar, still needed nearly 15,000 signatures by Saturday to trigger a response by the Obama administration.

Unlocking a phone is typically used to switch carriers. Jailbreaking a phone for the purposes of adding software unauthorized by the carrier or phone maker remains legal under the DMCA. It’s unlikely mobile carriers will seek prosecution for individual phone users, but operators of businesses that help consumers unlock their phones could face penalties of up to a $500,000 fine under the DMCA.

Khanifar said this week he’s optimistic 100,000 people will sign it by Saturday. The petition has recently won endorsements from Representative Peter DeFazio, an Oregon Democrat,

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The Cloud

Cloud Vmware

Big Data and the Legal Profession

 

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IBM’s Understanding Big Data e-book

 

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Big Data and High Performance Comouting

 

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Upcoming Event 2012

!Microsoft Cloud OS platform: Windows Server 2012, Windows Azure, Visual Studio 2012 and System Center 2012.

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