Animation shows #Bitcoin transactions happening in real time

Animation shows #Bitcoin transactions happening in real time
If you don’t pay attention to the Bitcoin world, you probably aren’t aware how active the Bitcoin system (other known as the blockchain) is. Now there’s an app for that. It won’t fit on your phone, but a web visualization at (screencap above) will show you in real time what the Bitcoin world is doing After a rough-and-tumble beginning that saw Bitcoin prices soar to more than $1,000 from a measly $1, the computer-based currency has settled into a more settled dollar-exchange zone between $300 and $500 as it has become more widely used. Each cube represents a block of transactions within the Bitcoin shared ledger, the blockchain. The balls represent individual Bitcoin transactions, with different colors representing the size of the exchanges. Reds — representing transactions up to 1 BTC ($420 at this moment) — are the most common, but blues (100 – 1000 BTC) are pretty frequent, too, suggesting some users with deep pockets are using Bitcoin. Click on a ball to see the exact amount displayed on the right. If the sound effects get on your nerves, click the mute button at upper right to quiet things down. The project is part of the WebGL project, ...

Bitcoin in China update 4

Bitcoin in China update
JISHOU, HUNAN — #Bitcoin is still alive and well in China, a year after the central banking authorities clamped down hard on banks doing Bitcoin-related business. We can still exchange renminbi for Bitcoin; it’s just not as easy as it was before December last year. Before the big crackdown, it was easy to transfer money from one’s bank account to any of several Bitcoin exchanges in China using the UnionPay interbank debit card system or the AliPay or TenPay third-party processor systems. So easy, that it appears Chinese Bitcoin speculation was pushing the exchange rate well over US$1,000. After the central bank restricted bank transfers and required banks close the exchanges’ bank accounts, the value of Bitcoins tumbled very quickly and has yet to return to the $1,000 level. Today, it was trading around $325. All but a few of the Bitcoin exchanges in China closed their doors. BTC China is one of the few that survives. It works around the banking restrictions by using vouchers as an intermediate step, and two representatives who accept the bank transfers. I took advantage of this system this week to transfer part of my paycheck to my US bank account. Previously, I had ...
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