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A PhD Student Won Challenge for 1 Bitcoin

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A PhD student from the University of Antwerp, has recently completed a challenge which consisted in cracking a code in a tube of DNA, and won 1 Bitcoin as a reward.

The One Who Solved the DNA Storage Bitcoin Challenge

Prague, Czech Republic , October 25, 2014: Photo of golden bitcoins (new virtual currency) with traditional dollars and euro as a background .Symbol of a new virtual currency .

The student, Sander Wuyts said “Goldman was still willing to send me a tube of DNA,” explaining how he only decided to enter at the end of 2017 after seeing a tweet from the big British scientist.

“The DNA contained instructions on how to claim the bitcoin, the logo of the European Bioinformatics Institute, a drawing of James Joyce and a few other things.”

Wuyts worked with a small team to win the prize.

The PhD student also said:

“To be honest, I had my doubts about the feasibility of using DNA to store data. This challenge changed that. Now I know very well that this new technology offers great opportunities, maybe even for my own future research.”

He said that he would use the prize money to fund research and share with those who helped him win the challenge.

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Blockchain and the Digital Revolution

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Cryptocurrencies and new technologies such as Blockchain are bringing a new idea for the future of finance.

Many people however have been saying that even if the uncertainty towards Bitcoin ends in failure, the Blockchain technology is the real protagonist in this digital revolution.

In an interview with Francesco Abbate and Luigi Matrone, they give some light about the potential of digital currencies and Blockchain.

Interview: Abbate, Matrone

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Francesco Abbate – Finance Director at Procter & Gamble, co-founder of decrypto.biz, CEO at Swiss Crypto Advisors. With 15 years of high level Finance experience in a multinational environment, coupled with many years of study and interest first in Bitcoin and then in crypto-currencies he is not only an investor & trader but also an orator, public speaker in the world of crypto.

Luigi Matrone – Former global brand manager at Procter & Gamble, co-founder and CEO at E-Business Institute, a consulting firm that provide digital and e-business solution for companies. Investing in the crypto world since few years, also co-founder and CEO of Smarter-chains, a digital platform helping manufacturers drive margin improvement and customer centricity by leveraging new technological capabilities.

I tried to get out some tips. But I got much better than only tips.

How is the weather in Davos? Blockchain must have been a dominant part of the narrative at the recent WEF?

It is quite cold and it snowed a lot here, but the super-hot topic was undeniably blockchain, there were so many discussion panels on this, it is clearly one of the most debated area, with people interested in this from all industries. It shows that this is getting traction, although we are still at a very early stage.

Let’s begin with the value. Because in the end it is the ‘value’ that is going to determine the usage, prevalence and future of cryptos. What is the intrinsic value of Bitcoin/crypto? They are not backed up by gold like $ dollar or guaranteed by the government?

That is a very good point. Actually since 1973 Nixon abandoned the gold coverage of $ dollar so we entered into the fiat money era. We are personally the opposite of an anarchist and I like and value order and governments, although to be fair people in Argentina or Zimbabwe might have a different idea of what trust in the government means.

When it comes to intrinsic value it all depends on circumstances and what people are willing to use to transfer value. We started with barter deals, we went through gold, fiat money, credit cards…and credit card was a big revolution decades ago as people could not see the real money. In prisons often cigarettes are used as a mean of value transfer, so it is all relative and what matters is what people are willing to attribute value to, not always this might be what is guaranteed by a government.

So ultimately value is a matter of trust. But how can we believe in Bitcoin if it is not regulated? We often read of hacks and theft. I wouldn’t leave my money on the mercy of these cyber-crooks.

Very important point indeed. We get this question every day. Bitcoin in itself as a protocol and as a software is fully regulated, there are rules for everything, the code is open source and everyone can read it. You can see how new Bitcoin are created roughly every 10 minutes as rewards for mining, how transactions are signed and broadcasted, how the ledger is validated and maintained. You can’t change the rules without consensus; it is a “distributed democracy system”. And in itself the system is completely secure, not because we say so but because that is how it mathematically works, the block-chain itself practically immutable thanks to the amount of computational power necessary to add every block to the block-chain, it is just mathematically impossible to go back and change the content or orders of transaction, you can’t lose your Bitcoin or get stolen this way. What indeed happened and will continue to happen is hacks to personal accounts which are not protected, or to exchanges which are centralized. This has nothing to do with Bitcoin itself, it is either a personal fault (you are responsible for your security, like you would not give your credit card pin to strangers), or the result of a centralized player exchanging money for Bitcoin. If you leave your Bitcoin on exchanges and their central server gets hacked, then you can lose. Again, the point here is not to leave Bitcoin on exchanges and use basic security and safety procedures to be protected, we also take care of education and consultancy about this in www.decrypto.biz. As always, the users are the weakest point of the chain, but this can be minimized with specific knowledge, tools, and good practice.

Source: http://moderndiplomacy.eu/category/business/economy/

 

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Ether Donation to Anti-Aging Research

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Vitalik Buterin has made a donation of $2.4 million worth in Ether to the SENS Foundation, which is a charity fund that focuses in anti-aging research.

Ether Donation

The foundation was co-founded back in 2009 by Audrey de Grey. She is a gerontologist focused on the research of rejuvenative therapies that will extend people’s natural lifespan.

Buterin, was qoted in a press release as a “fan of Aubrey’s work since he first read Ending Aging from de Grey as a teenager”. He said:

“I am happy to have been blessed with the opportunity to personally support SENS’s efforts. Their focus on creating solutions to the diseases of aging, one of the greatest problems facing humanity, is very much in line with my goal to positively impact the lives of millions of people around the world.”

The SENS Research Foundation has already received two large donations totaling $2 million in Bitcoin (BTC) from the anonymous Bitcoin-only charity fund, Pineapple Fund — the first million dollars in December 2017 and another $1 million in BTC on Feb. 2.

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Bitcoinist Talks with David Drake

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In an interview with Bitcoinist, David Drake is the Chairman of LDJ Capital talked about his experiences with cryptocurrencies, his thoughts on ICO quality, and the potential consecuences of regulations in several countries across the world

Bitcoinist: David Drake

Bitcoinist: What is LDJ Capital? How much capital do you currently manage? 

David Drake (DD): LDJ Cayman Fund Ltd is a $200M cryptocurrency fund across the whole Capital stack.

I am also a board advisor for several Initial Token Offerings. Top 15 ICOs I advise raised $500,000,000 in the last 6 months.  Fortunately, I have 25 employees managing daily interactions with the 20 ICOs I help.

I certainly feel like a Lucky Golden Token.

LDJ Capital is a financially integrated family office with a global footprint and local presence in 12 countries. We raise interest from our family office resources and from our LDJ Capital team members, who include the likes of a former chairman of Nasdaq and CEO of Intel Capital. We are taking on a few more ICOs on a road trip in the next few months. 

Bitcoinist: Is your fund involved in cryptocurrency trading? 

DD: Yes, we’re involved in investing in crypto trading, as well as long-term investments but I’d say 80% of our trading you buy and hold as we are long-term players and looking in on the line of strong fundamentals.

After having underwritten and worked with 250 different funds we have finally learned how to understand and underwrite the best of the best. I made it 12 xx on quantstamp making millions.

Bitcoinist: What is your experience with Bitcoin/cryptocurrencies? 

DD: My job is best performed as a global strategist and board advisor. In parallel 150 family offices, crypto traders and hedge funds globally rely on my opinion. Thus, I need your ICO quality to be institutional-grade. 

Bitcoinist: What determines whether an ICO is “institutional-grade”?
DD: Equity capacity, revenue, existing business history, leadership, composition, regulatory framework, brand recognition.
Bitcoinist: What are your thoughts on crypto in 2018 so far? Typical January price correction across the board or something more serious? 

DD: I think we will have Regulators stirring up the marketplace several times a week for the next two months until the SEC comes out with a direction and institutions are starting to invest.

At that point, prices will go off and I think that’s going to happen around March and April.

Bitcoinist: What kind of impact will Facebook no longer allowing crypto ads have on the industry? Is this a good thing (e.g. no more BitConnect ads) or will it have a negative impact? 

DD: I think the industrial address will slow down the growth and the hype of the business, and that’s a good thing.

Bitcoinist: How about China banning ICO’s and clamping down on its mining industry? Is this the end of China being a dominant player in crypto? 

DD: The Chinese moved their business to Japan, Korea, Hong Kong and Shanghai. Chinese exporters are getting paid in foreign fiat so they’re still very big exporters of capitals as they export their product. 

Source: http://bitcoinist.com/

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