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#13 - The Rise and Fall of Crypto

#13 - The Rise and Fall of Crypto

November 7, 2018
Last year at this time Bitcoin was going haywire!  It was on what seems to be the never ending rise to THE MOON!   Until it stopped just shortly into 2018.  Totally unpredictable behaviour.  Stupid bitcoin!  Or is it?
 
There is a pattern.  Ok a few patterns but this one struck me as interesting.
 
If you check out the blog article or this podcast on Codifyre.com you’ll see a few graphs of bitcoin over the years.  The all time price isn’t really that interesting because the big 2017 Christmas spike kind of skews the whole thing but the idea is that it’s generally going up with basic awareness.  That doesn’t give it real value so much as real potential value.
 
What IS interesting is the behaviour of the price when the media gets involved and starts hyping it.  Part time thrill seekers get into the crypto band wagon and shit gets crazy.  In fact if you think last year was a bizarre anomaly, and do check out the price graph for Nov 4th 2017 to Nov 4th 2018 to get a feel for the signature of that crazy….
 
but then, let’s go back 4 years.
 
In fact I’ll even go back to the exact same dates Nov 4th 2013 to Nov 4th 2014.  That was the last major Bitcoin hullabaloo in the press.
 
If you check out the graph, although the pricing is almost exactly 20 times smaller, the shape of the graph can almost be overlaid on the graph from 2017/18 and it was even the exact same time of the year as Christmas approaches.
 
Driven by media and speculation, people react almost exactly the same and it appears that 4 years is the magic amount of time for us humans to totally forget that we already did it once and, just go ahead and do it again.
 
Let’s get away from Bitcoin for the moment… and talk about some of the other big ones like Ethereum and Litecoin.
 
I like Ethereum and while I don’t entirely understand Litecoin's purpose yet it’s definitely got a good following.
 
The reason I like Ethereum is it has a leader (who is real), it had a plan and it has one really critical differentiator that I think a lot of people will like and that’s the Proof of Stake system it’s got in its roadmap for the future.
 
Before I get into that though, the other reason I like Ethereum is because it’s not a straight up cryptocurrency.   It’s a platform for the creation of Smart Contracts.
 
 
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#6 - Part 2 - Blockchain Security & The Bitcoin Boom

#6 - Part 2 - Blockchain Security & The Bitcoin Boom

February 21, 2018

In Part 1 of our article on blockchain security and cryptocurrency, we took a hard look at the core components that make up a successful cryptocurrency like Bitcoin. From the distributed network itself to the individuals who wish to own and use a cryptocurrency wallet to transfer or spend Bitcoin, security is key (pun intended) and very much a consideration at every stage. We ended our last article talking about the types of wallets available for conducting transactions on the network. This is where both choice and the potential for user or developer error come into play, especially when we discuss the types of wallets and, more importantly, the storage each type provides.

"The technology is a deadly combination of high value, high stakes, and low maturity."

Read the whole article for Part 2 here 

https://www.synopsys.com/blogs/software-security/blockchain-security-cryptocurrency-application/

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#6 - Part 1 - Blockchain Security & The Bitcoin Boom

#6 - Part 1 - Blockchain Security & The Bitcoin Boom

February 7, 2018

Thanks to Bitcoin, it’s fair to say that “blockchain” is a buzzword at the moment—like DevOps, or Zumba. This article isn’t going to dive into what a blockchain is, because many others out there already do that. Here’s a pretty good one that has a snappy description of the evolution of Bitcoin and its symbiotic buddy, blockchain. (I may have written that one as well.)

To some people, Bitcoin is a spoof currency trapped in a speculative bubble. To others, it and its alt-coin brethren are the future of financial exchange. In 2017 we saw a growing frequency of news about Bitcoin millionaires, lost Bitcoin tragedies, Bitcoin scandals, and various Bitcoin exchanges being hacked and shut down.

For the millions who have invested (or are considering investing) in cryptocurrencies such as Bitcoin, Litecoin, Ethereum, and the ever-growing list of alt-coins, little has been mentioned about the software and the infrastructure on which these cryptocurrencies are based. With all early adoption of technology, there is risk, so there’s a natural inclination to question the security of blockchain and the potential for cyber attack against it.

This special edition two part podcast was requested by Synopsys Software Integrity Group so you can read the show notes for it at the link below instead of the standard location at Codifyre.com

Read the whole article for Part 1 here 

https://www.synopsys.com/blogs/software-security/blockchain-security-cryptocurrency-theory/