Backyard Bitcoin

Blockchain-Based Scalable and Tamper-Evident Solution for Registering Energy Data.

noreply@blogger.com (Tom Heston MD) — Sat, 13 Jul 2019 17:31:00 +0000

Here's another great use of blockchain technology, which creates secure data that is highly resistant to human tampering and error.

Blockchain-Based Scalable and Tamper-Evident Solution for Registering Energy Data.:

Blockchain-Based Scalable and Tamper-Evident Solution for Registering Energy Data.

Sensors (Basel). 2019 Jul 10;19(14):

Authors: Pop C, Antal M, Cioara T, Anghel I, Sera D, Salomie I, Raveduto G, Ziu D, Croce V, Bertoncini M

Abstract

Nowadays, it has been recognized that blockchain can provide the technological infrastructure for developing decentralized, secure, and reliable smart energy grid management systems. However, an open issue that slows the adoption of blockchain technology in the energy sector is the low scalability and high processing overhead when dealing with the real-time energy data collected by smart energy meters. Thus, in this paper, we propose a scalable second tier solution which combines the blockchain ledger with distributed queuing systems and NoSQL (Not Only SQL database) databases to allow the registration of energy transactions less frequently on the chain without losing the tamper-evident benefits brought by the blockchain technology. At the same time, we propose a technique for tamper-evident registration of smart meters' energy data and associated energy transactions using digital fingerprinting which allows the energy transaction to be linked hashed-back on-chain, while the sensors data is stored off-chain. A prototype was implemented using Ethereum and smart contracts for the on-chain components while for the off-chain components we used Cassandra database and RabbitMQ messaging broker. The prototype proved to be effective in managing a settlement of energy imbalances use-case and during the evaluation conducted in simulated environment shows promising results in terms of scalability, throughput, and tampering of energy data sampled by smart energy meters.

PMID: 31295826 [PubMed - in process]

Calibrate Blockchain 2019

noreply@blogger.com (HelloThere) — Thu, 17 Jan 2019 03:23:00 +0000

Do you want to know more about what is going on in the Blockchain and cryptocurrency world? Then you must join in the conversation at CalibrateBlockchain.com #calibrate2019 If you can't be there in person you can still register for a virtual pass. Use the code HESTON50 for a discount. January 24 and 25. If you just missed it still email us at BackyardBitcoin [at] gmail.com to get info how to access the video from the conference. But really you won't want to miss this one! Follow us on twitter @backyardbitcoin using the hashtag #calibrate2019 for live tweets from the event.

Learn

This is the first blockchain event in the Inland Northwest, and the first opportunity for Inland Empire investors, innovators, and entrepreneurs to learn about emerging technology and how the blockchain’s innovations can impact them. You’ll have the opportunity to learn about cryptocurrency and see top executives from blockchain and crypto companies present.

Invest

Meet with fund managers, company creators and company executives to discuss the cryptocurrency space, implications of the blockchain, investment strategies, and make deals. This is an excellent learning opportunity from world-class speakers at a premier event and will help shape your understanding of the market and investment fundamentals.

Execute

Executives, Managers, Developers and Project Leaders have the opportunity to meet with pioneers in the blockchain space, identify the technologies that make sense, and execute their project visions using emergent, cutting edge innovation. Connections made at this event will build long term relationships for the blockchain revolution underway.

New Way to use your Bitcoin: Buy Fine Art

noreply@blogger.com (HelloThere) — Fri, 08 Jun 2018 16:54:00 +0000

If you have some spare Bitcoin or Ethereum lying around and you are tired of Hodling you could pick up some nice pieces of art by Andy Warhol.

On June 20 in London Dadiani Syndicate and in partnership with blockchain platform Maecenas Fine Art will be hosting an auction of this famous artist's work.

READ THE ENTIRE ARTICLE FROM FORBES

Maecenas Fine Art is doing some very interesting things in the Blockchain space. Read more from Marcela Garcia Casil HERE explaining how A-R-T and the Blockchain world work together.

This use of Bitcoin and the Blockchain is definitely going to impact the art world and I kind of think Andy Warhol would have loved it - or he would have hated it - one or the other. Either way he would have created some wild art based on this technology.

Why so many cryptocurrencies?

noreply@blogger.com (Anonymous) — Sat, 26 May 2018 22:15:00 +0000

If you are new to the world of cryptocurrency you have most likely heard about Bitcoin but that is only the beginning of the conversation. This list of cryptocurrencies is growing. But why? How many cryptocurrencies do we need?

It is a fascinating time to be watching the development of cryptocurrencies because there is so much development happening right now.

Here are a couple good resources to find out about all these coins:

WorldCoinIndex.com ranks all of the cryptocurrencies (at the time of this post there were 1810 ranked). The great thing about this site is the navigation. It is easy to click on any individual coin for more information including links to each individual website for more information. So if I am looking for information on any particular coin I start here.

TheMerkle.com put together a list of Top 50 Cryptocurrencies with just one sentence descriptions of each one. It is an interesting list and a fun way to look at these various coins.

Twitter is a good resource to go to for information on any coin by just using the Twitter search feature. If you aren't sure where to start you can always search #bitcoin or #cryptocurrency and go down the rabbit hole from there.

But why so many coins?

The answer is almost simple. Each coin represents something different. Bitcoin is of course the grandaddy of all cryptocurrencies and where this all started. (Following the emergence of Bitcoin is how this site got started.) From there other cryptocurrencies were developed each with their unique twist on the theme of digital currency.

BLOCKCHAIN

The backbone of Bitcoin cryptocurrency is called Blockchain.

The technology that made Bitcoin possible also makes it possible for us to exchange all kinds of information in a way that has never been possible before. It is a longer discussion about what Blockchain is and why it is so important but the important factor to this conversation is that it has allowed for a breakthrough in innovation and solutions to problems we have been trying to solve for decades.

How do we have accurate voting processes? BLOCKCHAIN
How do we have secure medical records that are owned by the patient / not the healthcare facility / and can be accessible when we need them? BLOCKCHAIN
How do we secure our electrical grid making it safe from hacking while also opening up opportunities for individuals to participate in energy conservation projects? BLOCKCHAIN
How do we ensure accurate ownership / title of land to people around the world? BLOCKCHAIN
How do we ensure that the food we are purchasing is actually organic and locally sourced? BLOCKCHAIN
How do we improve gun safety without adding more ineffective gun laws? BLOCKCHAIN

There are a so many activities that can be tracked and managed via Blockchain technology. Right now all around the world there are amazing teams of people coming up with solutions to problems that have been out of reach in the past in part because the cost and logistics were too impractical.

Each one of these new solutions or platforms has a Token that is used to exchange value and verify the information being tracked.

We have to think of "Coins" in a new way. Many of the "coins" on the world coin index are actually "Tokens". These Tokens represent some transaction of value but may not have anything to do with money.

There is a difference between cryptocurrency and these Blockchain Tokens / Coins. Throughout the next few months we will break these down one by one as we feature some of the most interesting Tokens and Blockchain solutions.

In the meantime, we will continue to support the use of Bitcoin as a currency to be used in our local shops.

We would love to hear your questions about Bitcoin / Blockchain / Tokens / Cryptocurrency / ETC. Join the conversation over on Facebook.com/BackyardBitcoin.

Back to the Basics: Where can I spend my Bitcoin

noreply@blogger.com (Anonymous) — Sun, 21 Jan 2018 23:27:00 +0000

In the beginning there was Bitcoin. And then came the question: Where can I spend my Bitcoin? The first answer to this question came in the answer of a pizza. It was a little bit of a round about purchase as someone in England accepted the bitcoin from someone in Florida USA and then ordered a pizza for them using regular cash.

We have come a long way since then. But as one person online noted the various places that offer items for sale using Bitcoin still list the items for sale in US dollars. They argue that Bitcoin will never be a valid form of currency until items for sale are listed in absolute Bitcoin value instead of absolute US dollars with the option to use Bitcoin.

Here at Backyard Bitcoin we are happy to have items listed in US dollars with the option to use Bitcoin as the means to finalize a purchase. That works just fine for us.

So in the meantime here is an article from Lifewire.com listing 13 places to use your Bitcoin for purchases. We can confirm four of them.

LIFEWIRE 13 Major Retailers and Services that Accept Bitcoin

One that was not mentioned on this list that we have found interesting is Craigslist. In a recent search for cars on the popular Craigslist site there was an option in the filters list to search by those sellers that accept cryptocurrency. We have not tested this out but find it to be an exciting development.

Where are you spending your Bitcoin? Let us know

Time Flies!

noreply@blogger.com (Anonymous) — Sat, 20 Jan 2018 20:42:00 +0000

Apparently, we took a little break from blogging here. And there is really too much to catch up on since our last post and today. So, we will start right now at the beginning of 2018.

If there ever was a wild way to start out the year Bitcoin enthusiasts felt it. In September of 2017 those of us who were in the Bitcoin enthusiast column discussed the year end price of Bitcoin reaching even as high as $5000. The TV show "The Big Bang Theory" set the "ridiculous" price of Bitcoin at $5000 for their episode on Bitcoin. And then we watched it rise to almost $20,000. Admittedly, here at BYB we didn't see that coming. Our projections for the new year were in the 5000 - 10,000 USD range. So when the big slide happened this last week we really weren't rattled. Just a bit more like "Hmm that's an interesting development".

It had to be a rough couple of weeks for people who had just mortgaged their homes to buy in to this technology when the prices were up in the high teens.

It definitely illustrated one thing to us here. It is always better to be in a situation where you don't have to sell in a panic. Be in Bitcoin for the excitement, for the potential gains, for the fact that you are part of a new technology that has the potential to change the world for the better. But don't be in it for the babes and the private jets.

There is an old saying in the stock market that goes "Bulls make money - Bears make money - Pigs get slaughtered." Don't be a Bitcoin Pig.

Many people have been speculating on the reasons for the incredible swings in the price of Bitcoin. We'll leave those conversations for the Reddit boards. Even with those swings we are enthusiastic about Bitcoin / Cryptocurrency / Blockchain and all that those technologies will bring in 2018.

Join us on Twitter and Facebook for great conversations and various polls and more fun to come.

Bitcoin plummets after SEC announcement (just kidding)

noreply@blogger.com (Tom Heston MD) — Sun, 12 Mar 2017 00:25:00 +0000

At Backyard Bitcoin our main focus is all about using bitcoin and cryptocurrency in everyday life. We believe that the wider the adoption of bitcoin the stronger it will become. Bottom line: We love Bitcoin.

So, even though this was a little bit out of our backyard we still watched the news and the buzz last week that swirled around the SEC decision on whether they were going to approve the Winklevoss proposal for a new Bitcoin ETF.

For any of you that weren't watching here is the spoiler: The ETF was not approved.

Leading up to the announcement it looked as though speculators were buying up bitcoin in the hopes that if the ETF was approved then the price of bitcoin would go up even more. At one point in the week the price hit $1300 (US Dollars).

We watched from here with our Google alerts set on stun and our Twitter account following various hashtags to see who might announce the news first.

As the excitement grew we even posted short updates on Facebook. One thing I was reminded of right away was that, when you get into a specialized subject like cryptocurrency, it is easy to slip in to "jargon". A number of people responded to our posts about the ETF watch with comments like "Huh?" and "What?". Backyard Bitcoin is designed to bridge the gap between the nerd and the newcomer and so at first I thought these comments might be in response to the word Bitcoin but then I realized that the term ETF was entirely foreign to a number of our readers.

An exchange-traded fund (ETF) is an investment fund traded on stock exchanges, much like stocks. An ETF holds assets such as stocks, commodities, or bonds, and trades close to its net asset value over the course of the trading day. Most ETFs track an index, such as a stock index or bond index. (That is the wiki definition of an ETF. If you are unfamiliar with what an ETF is this definition may not help all that much. If you want to know more about bitcoin and money see our reading recommendations at the bottom of this post).

The SEC (or US Securities and Exchange Commission) was tasked with approving a Bitcoin ETF put forward by the Winklevoss brothers (made famous in part because of the movie "the Social Network" which was based on the story of how Facebook came to be). This process would mean that Bitcoin would gain a definition by the US government of whether it is currency, commodity, or what. What exactly is bitcoin?

At the end of the day the announcement came out that the ETF was not going to go through and the price of bitcoin responded by dropping to just under $1100. This was a big drop for sure but not monumental considering that the price of bitcoin just last year started out around $400 and has been rising fairly consistently over the entire year.

The headlines that followed were harsh:

US regulators reject Bitcoin ETF, digital currency plunges

Bitcoin crashes after SEC reject Winklevoss ETF

Bitcoin: Price in Jeopardy after SEC Bitcoin ETF decision

You would have thought that it was the end of Bitcoin on Friday. But no. This is the great thing about Bitcoin. It is decentralized and not as susceptible to these market whims. Since the "crash" of bitcoin the price has begun to climb again and is currently at $1182.

It was an exciting week for Bitcoin / bitcoin. Here at Backyard Bitcoin we are even more excited about the weeks and months ahead.

***********

If you use your bitcoin for an everyday purchase let us know about your experience by joining the discussion on Facebook.com/backyardbitcoin

If you want to know more about what bitcoin is exactly or just more on our monetary system in general here are our two reading recommendations (will post a separate review on each book in the weeks ahead but for now, pick them up and enjoy!)

The Internet of Money Volume 1 by Andreas M Antonopoulos

Naked Money by Charles Wheelan

Swiss rail ticket machines to offer bitcoins

noreply@blogger.com (Tom Heston MD) — Fri, 28 Oct 2016 17:42:00 +0000

Bitcoin users will soon be able to buy the digital currency from Swiss rail ticket machines. The pilot project starts on November 11 and will initially last two years to see how much demand there is for the service. read more

Blockchain seeks to squeeze out the lawyers

noreply@blogger.com (Tom Heston MD) — Thu, 13 Oct 2016 15:52:00 +0000

It won't happen...

https://goo.gl/Pju4k7

Oh no, not again: Ethereum to Have to Fork?

noreply@blogger.com (Tom Heston MD) — Thu, 13 Oct 2016 15:51:00 +0000

Can Ethereum maintain credibility by continually hard - forking? https://goo.gl/uYI3h5

Blockchain and the Music Industry

noreply@blogger.com (Tom Heston MD) — Thu, 13 Oct 2016 15:48:00 +0000

Interesting article on how the blockchain can ensure musicians get properly compensated for their work. Read more about the blockchain and musicians

Five Blockchain Technologies you should be Watching

noreply@blogger.com (Tom Heston MD) — Thu, 13 Oct 2016 15:45:00 +0000

Blockchain technology continues to grow; here are leading areas of development.

Smart Contracts
Blockchain-as-a-Service
Energy Efficiency
Permissioned Blockchains
Tangle: the Blockchain that isn't a Blockchain

Read the Full Article Here

Blockchain and the Governance of Charities

noreply@blogger.com (Tom Heston MD) — Mon, 03 Oct 2016 21:34:00 +0000

This article outlines ways that blockchain technology could help confirm charities are honest and ethical. The 3 areas blockchain could help with are registration, reporting and enforcement. A structure similar to the DAO could be utilized.

How Blockchain Would Improve Governance of Charities - CCN: Financial Bitcoin

The most important invention since the internet

noreply@blogger.com (Tom Heston MD) — Thu, 29 Sep 2016 18:43:00 +0000

Referring to Bitcoin, Marco Santori said "This is probably the most important invention since the internet." Marco Santori is a partner at Pillsbury Winthrop Shaw Pittman in New York, and leader of the firm's digital currency and blockchain technology team. Read the full article here: Got bitcoin? Despite early setbacks, some say it is stronger than ever

Comment: Bitcoin is especially powerful in helping entrepreneurs in developing or repressed economic systems.

Bitcoin and the Blockchain News RSS

noreply@blogger.com (hello) — Wed, 28 Sep 2016 18:22:00 +0000

We have just created a news feed RSS focused on Bitcoin and Blockchain Technologies. You can subscribe to it here.

Using this news feed will help you to stay up-to-date with the latest news in the cryptocurrency and smart contract world !

A Life of Luxury with Bitcoin

noreply@blogger.com (HelloThere) — Mon, 01 Aug 2016 18:50:00 +0000

At Backyard Bitcoin we are always looking for ways to spend our Bitcoin. This morning we went down the rabbit hole daydreaming of the luxury life when we stumbled upon the site BitPremier.

This site has 32 pages of luxury items that you can buy using Bitcoin. It is an exchange similar to eBay except that it is exclusively for luxury items and it accepts Bitcoin. The buyer and seller remain completely anonymous to each other until the transaction is completed and BitPremier serves as the escrow company of sorts ensuring that all parties fully receive their end of the deal. For this service they take a 5% commission from the seller.

The amount and variety of items available through the site is impressive. From submarines to watches, handbags to luxury automobiles, there is a little something to get everyone daydreaming about the possibilities.

We are looking forward to the day when this site is commonplace and not as unique as it is today.

In the Bitcoin Headlines

noreply@blogger.com (HelloThere) — Sun, 24 Jul 2016 06:05:00 +0000

Bitcoin was once a theoretical conversation held primarily by cryptocurrency geeks / nerds. Today the headlines clearly show that Bitcoin is no longer the private domain of pocket protector clad nerds.

From around the world Bitcoin.com reports:

Does Argentina Need More Bitcoins or Larger Banknotes?

By Julio Gil-Pulgar - July 21, 2016

Turkish Residents Flock to Bitcoin During Military Coup

By Jamie Redman -

July 18, 2016

And from Forbes.com

How the Post-Brexit World could belong to Bitcoin

By Ross Gerber - July 6, 2016

As Bitcoin becomes more widely accepted around the world it will become easier to spend in more places and exchanged at more companies. How are you spending your Bitcoin today?

Let us know where you are spending your Bitcoin:

Twitter.com/backyardbitcoin

Facebook.com/backyardbitcoin

What's Your Bitcoin Worth?

noreply@blogger.com (HelloThere) — Tue, 20 Oct 2015 18:36:00 +0000

At the time of this post a single bitcoin was worth 269.410 USD but it is constantly changing.

From my laptop I like following the Bitcoin tracker at bitcointicker.co/

But the best place to watch bitcoin move is on your smart phone. So download an app today and check it out.

Super Simple Overview:

2013 was the year of Bitcoin as the value hit an historic high over $1200 and was on par with Gold.

2014 the Mt Gox collapse blew those profits up and there was some major recalibration in the Bitcoin world.

2015 BackyardBitcoin goes in search of places to spend bitcoin.

2016 Bitcoin becomes mainstream. Baby Boomers finally adopt using their cellphone as more than just a device to use for making phone calls and start using it to pay for things on their trips to the market. (At least that's the dream).

Let us know where you are spending your bitcoin. We want to support places IRL that take bitcoin!

Connect with us on Facebook and Twitter and let us know.

#BackyardBitcoin Holiday Challenge

noreply@blogger.com (HelloThere) — Tue, 13 Oct 2015 04:35:00 +0000

At Backyard Bitcoin we're all about using our Bitcoin to buy as much as possible in our own backyard. Today we are announcing the #BackyardBitcoin Holiday Challenge. Can you buy all of your gifts with Bitcoin?

It's not even Halloween but we are posting this now so you can get creative.

Tweet us @BackyardBitcoin or Message us on Facebook.com/BackyardBitcoin and let us know how you did.

As we amp up we may even be able to declare a winner of this challenge. But for now it is all just for fun and bragging rights.

Welcome to the Backyard Bitcoin

noreply@blogger.com (Mary Heston) — Sun, 04 Oct 2015 17:10:00 +0000

We love Bitcoin!

I love spending my bitcoin. It is easier than pulling out a credit card or debit card and so much more fun! The only thing is it is not always easy finding places that accept Bitcoin.

Recently the news reported that Starbucks would now be accepting Bitcoin. In the article it does say that technically the purchase is through an app that is funded by Bitcoin but since there are 12 Starbucks nearby I decided to walk on over to a nearby Starbucks and ask if they are accepting Bitcoin now. The Barista got a huge smile on his face and said "No. Actually, we aren't taking Bitcoin here yet. But when I get home and tell my brother that someone came in asking if they could use Bitcoin today he will be totally stoked." OK so we made a Barista happy today but my wallet is still funded and waiting to be spent.

It would be great to hear from you. Where were you able to spend your Bitcoin? What was the experience like? The more we use our Bitcoin the more widely it will be accepted. Use the contact form on the sidebar or send us an email at BackyardBitcoin [@] gmail.com.