Bitcoinfiles.com Developers Launch Censorship-Resistant File Storage System

Bitcoinfiles.com Developers Launch Censorship-Resistant File Storage System

News

On Friday, Oct. 19, the developers of Bitcoinfiles.com launched the first official version of the product. Now anyone from around the globe can tether a file (5kb or less) to the BCH chain, ensuring its resistance to censorship.

Also Read: Bitcoin Ownership: Your Private Keys to Financial Sovereignty

File Storage Tethered to the Bitcoin Cash Blockchain

Bitcoin Cash (BCH) developers James Cramer, Attila Aros and ‘Hapticpilot’ have announced the launch of a working product called Bitcoinfiles.com, a platform that allows people to upload and download files tied to the BCH blockchain. Currently, the files allowed have to be small and the service only allows 5kb or less per upload. The programmers have added a $0.25 fee in order to process a BCH file upload. Downloading a file doesn’t cost anything and you can share the file’s URL with anyone you like.

Bitcoinfiles.com Developers Launch Censorship-Resistant File Storage System

Uploading and Downloading Timothy May’s Timeless Manifesto

Bitcoinfiles.com Developers Launch Censorship-Resistant File Storage System Experimenting with Bitcoinfiles.com is fairly intuitive if you are able to operate a BCH wallet and are familiar with uploading files to hosting sites. Basically, users simply press the upload button and can browse their operating system for files under 5kb. In order to test the platform, news.Bitcoin.com copy and pasted the entire text from Timothy May’s Crypto Anarchist Manifesto text into a rich text file (rtf) which ended up being roughly 4kb in size.

After pressing the upload button and choosing a file, the user has to accept a disclaimer which basically states that Bitcoinfiles.com is not responsible for illicit behavior. After accepting the disclaimer, you can pay for the file upload ($0.25 + network fee) either by using the Money Button or using a QR code and the text from a traditional address.

Bitcoinfiles.com Developers Launch Censorship-Resistant File Storage System

After whipping out the trusty Bitcoin.com Wallet, the QR was scanned without error and I paid the fee. Almost instantly after the invoice was paid the platform showed me it was uploading my file. The upload took less than a minute and the Bitcoin Files application dispersed a BCH blockchain URL at the end. Users can also view uploads on the website’s file explorer powered by Bitdb 2.0. The manifesto was there, showing a timestamp of approximately 16:59 UTC and the file’s hash as well. After the upload was complete, I then pressed the download file button on the website to choose from all the uploaded files on the network. Using the URL from the previous manifesto rtf file upload, the platform downloaded the file very quickly, with no charge for downloads.

Bitcoinfiles.com Developers Launch Censorship-Resistant File Storage System

Files That Endure the Test of Time

The implications of a project like Bitcoinfiles.com could be massive as the platform can allow anyone to create an uncensorable file that’s forever tied to the BCH chain. The protocol does not require any registering or identification and files could be uploaded by anonymous whistleblowers, journalists, and anyone else who wants to save files in an immutable fashion. However, some may think a concept like this could be problematic if people were to upload illegal or taboo material and malicious data. The project is open source and the protocol could be integrated elsewhere. so it’s possible files could be uploaded and extracted without depending on the Bitcoinfiles.com platform as well.

What do you think about Bitcoinfiles.com? Let us know what you think about this project in the comments section below.


Images via Shutterstock, Bitcoinfiles.com, and Jamie Redman.


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The Daily: Huobi Unveils HUSD, New Cryptocurrency Loans Launch

The Daily: Huobi Unveils HUSD, New Cryptocurrency Loans Launch

The Daily

It’s been a week for stablecoin stories in the crypto sphere, and while we’d like to have started the weekend on a different tack, Huobi’s effort was too intriguing not to share. We’ll also detail the latest cryptocurrency lending options in Saturday’s edition of The Daily and consider a topical Halloween costume for bitcoiners.

Also read: Bitcoin Cash Merchant Directory Marco Coino Surpasses 500 Listings

Stablecoins Get Meta With HUSD

Stablecoin mania is spreading, and now it’s starting to get meta. Huobi, the world’s second-largest exchange by trading volume, has announced the launch of HUSD. This isn’t technically a stablecoin though: it’s an integrated solution that contains multiple stablecoins. The aim is to save traders from having to choose between multiple pegged coins. Many exchanges, Huobi included, now list numerous stablecoins which are often paired against one another.

The Daily: Huobi Introduces HUSD, New Cryptocurrency Loans Launch

Huobi explained: “When you deposit any kind of stablecoins, they will be shown as HUSD in your account. You may withdraw any kind of stablecoin … For example, when you deposit 1 PAX, it will show as 1 HUSD in your account, and you can withdraw 1 TUSD.” Given that stablecoins can generally be relied on to adhere to the U.S. dollar, the solution ought to save hassle for Huobi and its customers alike. Initially, PAX, TUSD, USDC, and GUSD will be incorporated under the HUSD umbrella. The Singapore-based exchange finished:

We look forward to more stablecoins being involved in the HUSD system. Concurrently, we will evaluate the existing stablecoins in the HUSD system on a real time basis, if the stablecoin doesn’t meet the corresponding risk control standard, we will remove it.

Salt Expands Cryptocurrency Loans

The number of cryptocurrencies that can be used as collateral is growing. “Very Lending, Much Liquidity,” read the email Salt used to introduce its latest altcoin lending option. Cryptocurrency users can now deploy DOGE as collateral, along with BTC, ETH and LTC, and obtain a loan starting from $5,000. Crypto-fiat loans can be obtained for between one and 36 months, with an APR that starts at around six percent.

The Daily: Huobi Introduces HUSD, New Cryptocurrency Loans Launch

Crypto Twitter Goes NPC

The non-player character (NPC) meme has been inescapable this week, and it only seems fitting to sign off with crypto Twitter’s take. Cryptocurrency factions never need much prompting to dehumanize and goad one another, and it was inevitable that the NPC meme, which depicts opponents as programmatic non-entities, would catch on. One Twitter user has proposed a bitcoin-themed Halloween costume, accompanied by the sort of stock insult that an NPC might utter:

The Daily: Huobi Introduces HUSD, New Cryptocurrency Loans Launch

Meanwhile, a visitor to Ripple’s headquarters joked that some NPC programming may have been taking place:

What are your thoughts on today’s news tidbits as featured in The Daily? Let us know in the comments section below.


Images courtesy of Shutterstock, Huobi, Salt, and Twitter.


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Bitcoin Intentions: Are We Aiming to Replace the Status Quo or Become Them?

Bitcoin Intentions: Are We Aiming to Replace the Status Quo or Become Them?

Op-Ed

When the idea of a working digital currency like bitcoin was introduced, many of its early adopters disliked the current bureaucratic system, with a cartel of bankers pulling the world’s monetary strings. Over time, however, something weird has happened and the idea of permissionless innovation perverted into people literally asking nation states for permission, begging for ETFs, and creating a settlement layer for the ‘new 1%.’

Also Read: Bitcoin Ownership: Your Private Keys to Financial Sovereignty

Bitcoin Changed Everything — But Some People Want to Pervert the Original Goals

Over the last two decades, there’s been a growing faction of anarchists, libertarians, and freedom fighters aiming to change the world. They have become fed up with the sociopaths leading the world into never-ending conflicts and are tired of the central banks printing massive amounts of fiat, devaluing currencies, and causing hyperinflation.

Bitcoin Intentions: Are We Aiming to Replace the Status Quo or Become Them?

Then, after the 2008 economic crisis, a technological innovation called Bitcoin was born, allowing users a medium of exchange that couldn’t be censored. For the first time ever, a software-derived currency gained value, even though it wasn’t backed by a single individual, corporation or nation-state.

Bitcoin Intentions: Are We Aiming to Replace the Status Quo or Become Them?Many people believe cryptocurrencies are meant to end the nation state’s and central bank’s rule over money.

Back in the early days, on Bitcointalk.org and developer IRC channels, Satoshi and other developers discussed many ideas that revolved around removing central authorities. On Feb. 11, 2009, Satoshi posted to the Foundation for Peer to Peer Alternatives (P2P Foundation) introducing his software to the world. Within that specific post, the software’s creator explained that most commerce now relies on third parties and financial institutions that ultimately can’t be trusted.

“Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve,” Satoshi explained. “We have to trust them with our privacy, trust them not to let identity thieves drain our accounts.”

From this point on, not only did Satoshi’s idea changed the entire way people had thought about money, but the entire concept of trusting a third party was turned upside down for those who listened. During Bitcoin’s infancy, there were no discussions of exchange-traded funds (ETF) backed by corporate entities like Cboe and Vaneck. Network fees were a penny or less for the network’s first few years and at that time anyone could send micro-transactions across the globe. But since then, BTC fees have fluctuated wildly, effectively censoring people in developing nations, from time to time, who can’t afford higher fees. This makes the network undesirable for remittances.

Bitcoin Intentions: Are We Aiming to Replace the Status Quo or Become Them?How can BTC be censorship resistant if network fees censor more than half of the world?

Long ago, no one cared about Wall Street deals from Bakkt and institutional money flocking towards bitcoin. Satoshi talked about privacy, Tor and I2P integration back then — not shaking hands with the devil. Most people talked about using bitcoin to remove central authorities in banking, content publishing, music, tipping, domain services using .bit, and literally anywhere they could think of on the open web.

Taboo Talks of Darknets, Avoiding Taxes, and Even Remittances Has Been Replaced With the Need for Status Quo Acceptance

For a while now, these ideas have since been silenced by loud discussions of futures markets, politicians accepting bitcoin, and Wall Street thieves swapping BTC paper notes. Talking about things like darknet markets and the Silk Road is deemed ‘too taboo’ for the masses hoping and praying for elected officials to define bitcoin as ‘money.’

The malaise started in 2015 when blockchain hype jumped into light speed and more people began begging the state for cryptocurrency acceptance. Can you believe people ask permission from bureaucrats to use a permissionless currency? Instead of donating funds to Wikileaks, Antiwar, and other activists on the front lines, people now clap feverishly when they hear Goldman Sachs is contemplating a trading desk.

Bitcoin Intentions: Are We Aiming to Replace the Status Quo or Become Them?My interview with Cody Wilson back in 2015.

We have not yet realized that institutional money does not equate to mass adoption. For some odd reason, many people believe that once big money players jump in on bitcoin, the demand will skyrocket. They grow excited any time a financial incumbent enters the ‘blockchain space’, thinking that this lead to a significant network effect. These individuals seem to forget how small the financial elite is within this world, and they are forgetting or ignoring the massive amounts of people who could use a hard currency without a third party. One would think that mass adoption begins with the people who need it the most — the unbanked. Some people will recall that at one time the remittance industry was regarded as a prime sector for bitcoin to dominate, but nowadays cross-border payments are a distant memory.

Bitcoin Intentions: Are We Aiming to Replace the Status Quo or Become Them?Anarchist Amir Taaki has been very vocal against the current thought leaders and dogmatic followers.

There are certain thought leaders who are pushing a new agenda for Bitcoin technology. Many of these clowns disingenuously imply that the unbanked will be able to use bitcoin despite its high fees. Developers using sophistry act like meritocracy has elevated them to their positions. In fact, they’ve created a disgusting technocracy applauded by those prone to confirmation bias and circular logic.

Bitcoin Intentions: Are We Aiming to Replace the Status Quo or Become Them?In the Bitcoin space ‘thought leaders’ have grown in number. 

Thankfully, they don’t seem to have anticipated the blowback they’ve instigated. The cult of Bitcoin personalities is slowly losing power but it will take time to dissipate. Over the past year, after 2017’s absurd comments about high fees being good for settlement, these individuals have started to promote using fiat over bitcoin.

People should start looking at the early days of Bitcoin again. They should re-read old forum posts and discussions concerning how it was once the goal to remove the world’s money from the state and central banks. Back then people followed a philosophy that aimed for consistent freedom, but the get-rich mentality and permission-seeking mindset has proven pernicious.

As John Lennon once said, it’s easy to become the status quo when you are entrenched in trying to replace them. Bitcoin deserves better.

What do you think about the original philosophy of the early adopters and cypherpunks being replaced by visions of joining the status quo? Let us know what you think about this subject in the comment section below.

OP-ed disclaimer: This is an Op-ed article. The opinions expressed in this article are the author’s own. Bitcoin.com does not endorse nor support views, opinions or conclusions drawn in this post. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the Op-ed article. Readers should do their own due diligence before taking any actions related to the content. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any information in this Op-ed article.


Images via Shutterstock, Twitter, Banksy, and Pixabay. 


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