Bitcoin vs. The Federal Reserve

Speakers

Highlights

Multi-Bit

“Multibit is No Longer Supported

July 26th 2017

It is time for us to let Multibit go.

KeepKey acquired Multibit a little over 1 year ago. At the time, the engineers who originally built and supported Multibit had announced that they would no longer be working on it or providing support. Multibit played an important role in the Bitcoin infrastructure. We felt that it was important for Multibit to continue and hoped that with our existing support and development teams, we would be able to keep Multibit alive.

The reality is that Multibit is in need of a lot of work. It has stubborn bugs that have caused us and Multibit users much grief. Additionally, Bitcoin has gone through a fundamental change in regards to the way fees work. The addition of SegWit in the coming weeks will mean the Multibit software has fallen still further behind.

Unfortunately, KeepKey simply does not have the resources to support the current issues, nor to rebuild Multibit to ensure ideal user experience. By focusing our attention on the KeepKey device, we will continue building and improving the best hardware wallet available.

Thus, KeepKey will discontinue support and maintenance of Multibit, effective immediately.

We recommend that all Multibit users discontinue using it and you move your keys to other wallet software of your choosing.

Next Steps for Multibit Users

Videos that demonstrate how to move your wallet to Electrum are available on YouTube.

Electrum is available for download at https://electrum.org/#download. Special thanks to the Electrum team for quickly making a small change to allow Multibit HD wallets to be imported more easily.”

The 21 Million BTC limit

Satoshi’s Genius: Unexpected Ways in which Bitcoin Dodged Some Cryptographic Bullets

“One somewhat controversial property of Bitcoin is its fixed currency supply. There are currently 25 BTC being generated every 10 minutes, and this amount cuts in half every four years. All in all, there will never be more than 21 million BTC in existence. On the other hand, each bitcoin can be split into 100 million pieces (called “satoshis”), so it will not become difficult to use Bitcoin if its value goes up the same way it would become problematic to trade with dollars if each penny was enough to buy a car. Thus, all in all, the total number of currency units that will ever exist stands at 2,100,000,000,000,000: 2.1 quadrillion, or about 250.899. In choosing this figure, Satoshi was much luckier, or wiser, than most people realize. First of all, the number is considerably less than 264 – 1, the largest integer that can be stored in a standard integer on a computer – go above that, and the integers wrap around to zero like an odometer.”

Why 21 Million