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What's in your electronic wallet?

Leonardtown, MD - If you, like me, are blasted with stories/ads on why I must buy bitcoin and the way it is pitched is something like, 1 Bitcoin will be worth $1,000,000 get in while you can! Imagine those lucky people who bought Bitcoin when it was $300 or even smarter people who bought it for less then a dollar. I started to think about writing  his article about a month ago, when 1 bitcoin Was worth around $11,000.  I figured it would be a matter of research to understand it, decipher it and then write an informational feature. Partially because bitcoin is making the  news  almost daily, and my growing curiosity, I recently began research in earnest. The price of 1 Bitcoin has risen about $8,000 in the month of November, and the research has not been easy. I discovered that Wikipedia and Google had no simple answer. I also found "coinbase" a  web site that purveys bitcoin, bitcoin lite, ethereum and what is blockchain??

Being on a self imposed deadline, I started the article on a Sunday and discovered that if I had bought 1 Bitcoin yesterday when I was conducting initial research, today I could sell it and would have made $1,600 profit. Now here is the thing, there are a whole lot of folks who are saying that this is a giant bubble and bitcoin will go the way of all bubbles, Pop! All gone. .

By the way in the time it has taken me to write this 1 Bitcoin  has increased in value by $42 or or 0.22 percent.

It is about 24 hours later and bitcoin is now down 6.3 percent.

According to CNN(Money) reporting from Hong Kong, "The red hot digital currency hit new highs over the weekend and its now got the weight of the worlds biggest exchange operator behind it. Financial market giant (CME) Group launched bitcoin futures on Sunday evening, a week after a similar move by its rival Cboe Global Markets. "The involvement of top financial institutions underscores its growing mainstream acceptance even as government officials, community leaders and economists continue to warn people against investing in it," CGM officials stated.

It climbed to within a few hundred dollars of the $20,000 mark before slipping back to around $19,000.

Bitcoin has had an incredible year climbing 1,700 percent, which has caused some high profile figures such as Warren Buffet to call it "a big speculative bubble".

The new era of digital currencies and digital wallets to keep them in seems to be a growing trend. Even New York's Nasdaq is expected to launch its own bitcoin futures trading sometime next year. 

Conducting further research on this complicated puzzle I Invested $100 in bitcoin. In exchange for that investment I will have 0.00523890 BTC in my electronic wallet.(NOTE: I do not advise or endorse any investments in bitcoin and I have revealed my holdings.)

To understand how  cryptocurrencies work ,exploring the technology that is driving the bitcoin phenomenon, which includes a global virtual distributed ledger where all transactions are recorded with blockchain technology, and a closer look at ethereum, litecoin and bitcoin.( and many others) subject matter experts are essential. 

The podcast( link below) will be given by Mr Theodore J Tanner Jr., who is a serial entrepreneur and worked for both Steve Jobs and Bill Gates. Only geeks (not me ) will probably understand Ted's talk but he well describes the new virtual technologies, a use case of a successful start up and maybe insights into what our virtual future is going to look like. Ted is a start-up, which is not endorsed by TheBayNet, but it is an interesting use case as its focus is on the health IT sector, which currently uses 1980-1990's technology

Part 2

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Copyright 2016-2017 Future Tech Podcasts

Ted Tanner is co-founder and CTO of PokitDok. Ted is an engineering executive with extensive experience ranging from startups to public corporations. Focused mainly on growth scale computing he has held architect positions at both Apple and Microsoft and has held instrumental roles in several start-ups, including digidesign (IPO and acquired by Avid), Crystal River Engineering (acquired by Creative Labs), VP of R&D at MongoMusic (acquired by Microsoft) and Co-founder and CTO of BeliefNetworks (acquired by Benefitfocus). He was also the CTO of Spatializer Audio Labs (NASDAQ: SPAZ), a company specializing in digital signal processing solutions. He is on the IAB for the University of South Carolina Computer Science Department as well as the Center for Intelligent Systems and Machine Learning at the University of Tennessee. Mr. Tanner has published numerous articles in leading technical magazines and holds several patents in the areas of semantics, machine learning, signal processing and signal protection.

.Contact Martin Fairclough (before he becomes insufferably rich) at m.fairclough@thebaynet.com

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