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In 2011, a 12-year-old unknowingly predicted Bitcoin's rise in a forgotten YouTube video. Now, crypto enthusiasts have rediscovered it, launching $TPU, a Solana-based memecoin named after his old channel. The internet is hailing him as an accidental visionary, proving once again that the digital world never forgets -- and that early tech predictions can age like fine wine. more
A recent story in Medium describes yet again quite well why blockchains don't solve any real problems: Blockchain is not only crappy technology but a bad vision for the future. So what is their irresistible appeal? Bitcoins remind me of a story from the late chair of the Princeton University astronomy department. In 1950 Immanuel Velikovsky published Worlds in Collision, a controversial best-selling book that claimed that 3500 years ago Venus and Mars swooped near the earth... more
An entity called the Handshake Network claims its newly developed open source project offers advantages over the traditional naming and signature systems. more
The beginning of a new decade is always an invitation to have a broader look into the future. What, in the next ten years, will happen in the Internet Governance Ecosystem? Will the 2020s see the usual swinging pendulum between more liberal and more restrictive Internet policies in an interconnected world? Or will we move towards a watershed? more
One of the oft-made claims about Bitcoin and its blockchain transaction ledger is that they make transactions really cheap, so you can pay someone anywhere in the world for free, or close to it. But when you look closer, is that really true? Not by a long shot. Bitcoin transactions are stored in a large shared database called the blockchain. more
One of the chronic features of the Bitcoin landscape is that Bitcoin exchanges screw up and fail, starting with Mt. Gox. There's nothing conceptually very hard about running an exchange, so what's the problem? The first problem is that Bitcoin and other blockchains are by design completely unforgiving. If there is a bug in your software which lets people steal coins, too bad, nothing to be done. more
Nearly $64m in bitcoin has been stolen by hackers who broke into Slovenian-based bitcoin mining marketplace NiceHash. more
Three years ago, my team and I launched .xyz with the mission of bringing competition, choice, and innovation on the internet. .xyz was probably the only domain extension that had no built-in meaning, included very few domains priced at a premium, and relied on low margins and high volume. We brought with it the message that .xyz was for every website, everywhere. And instead of targeting one vertical, we connected with the next generation of internet users... more
Thousands of websites are reported to have been infected by malware over the weekend forcing visitors' computers to mine cryptocurrency while using the sites. more
Bitcoin's unreal hype has obscured that it is mostly used to facilitate drug deals, ransomware, tax evasion, and even the occasional murder for hire. After the 60% price drop, demand for bitcoin mining gear has fallen so much TSMC has to lower sales estimates for 2018... Now, Austrian Ambassador in Tehran Stefan Scholz has suggested it could be a powerful boost to the European intent to bypass the U.S. economic blockade. That could provide demand for $billions of bitcoins. more
Ever buy a used car only to realize later that you've purchased a lemon? That scenario occurs because of information asymmetry between the seller -- who knows the car is a lemon -- and the buyer who doesn't. Without transparency, the market assumed that any used car for sale is a lemon, so that drove down the price of good used cars. The good news is that thanks to the Internet, buyers now have access to data that can help them determine if a car is a lemon or a good buy. more
There's a lot of misunderstanding about blockchain. A recent study by HSBC, for example, found that 59 percent of customers around the world had never heard of it. Yet, while that alone is quite telling, it's probably more alarming to consider the fact that very same poll revealed that 80 percent of people who had hard of blockchain did not understand what it is. This level of confusion isn't confined to the general population either. more
The DNS is a crucial part of today's Internet. With the fracturing of the network's address space as a byproduct of IPv4 address run down and the protracted IPv6 transition the Internet's name space is now the defining attribute of the Internet that makes it one network. However, the DNS is not a rigid and unchanging technology. It has changed considerably over the lifetime of the Internet and here I'd like to look at what's changed and what's remained the same. more
Electronic money is not a new idea. The Electronic Fund Transfer Act was passed by the U.S. Congress and signed by President Jimmy Carter 35 years ago (1978). Other forms of electronic money include payment processors, direct deposit, and digital currencies such as Bitcoin. What distinguishes Bitcoin from other electronic money is that it is a cryptocurrency... Will Bitcoin replace the dollar, euro, yen, franc, kroner, et al? Possible, but most authorities seem to be saying it is doubtful. more
For several years, many within ICANN circles have raised concerns about the escalating nature of domain name system (DNS) abuse. While some strides were made toward a safer DNS, new data - this time from a comprehensive study of DNS abuse by the European Union - demonstrates that abuse remains a frustratingly obstinate problem that requires urgent attention. We've seen some registries and registrars testing innovative industry-led initiatives in an effort to address the issues. more
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