Bitcoin radio waves transactions: future or dream?

Nick Szabo, possible creator of Bitcoin, proposed to conduct Bitcoin transactions using the radio waves
09 November 2017   1663

Cryptographer and specialist in the theory of computers and systems Nick Szabo, together with researcher Elaine Ou from Stanford University, presented a project in which they test the conduct of transactions in the network of bitcoins using radio waves. The presentation took place last weekend during the Scaling Bitcoin conference in San Francisco, Bitcoin.com reports.

According to the authors of the concept, despite the fact that at the moment the bitcoin network is sufficiently secure to protect, there are fears that in the future it will be attempted to attack or block through firewalls, network blocks or other means that may be used by governments or monopolists in area of ​​telecommunications.

Bitcoin radio wave transaction
Bitcoin radio wave transaction

To solve this problem, Szabo and Ou suggest using Skywave communication tools that use the ionosphere, a layer of the Earth's upper atmosphere, which serves as a kind of mirror for radio waves of a certain length, including those that can be used to carry out bitcoin transactions.

To do this, we are going to propose using skywave communication using the ionosphere where the sun hits the upper atmosphere of the earth near space with ultraviolet radiation — the layer it ionizes particles and creates this layer that acts as a mirror for certain radio wavelengths like the kind we want to use. The radio community — the two regimes we are interested in, in the radio community it’s near-vertical incidence skywave, this is the 70 degree angle there, it’s nearly vertical. You get a range of about 5 or 600 km. The most reliable frequency are 40-80 m. That’s what we’re targeting.
 

Nick Szabo
Bitcoin reasercher

Using the GNU Radio software tool to demonstrate the modulator involved in the testing, Szabo and Ou conducted a loop test with 70 cm antennas for the transmitter, using also the HackRF-1 device and 21 Bitcoin Computer.

The UK Watchdog forestalls Against Coin Boost Inc.

FCA issued a warning to only deal with authorized financial companies
20 June 2018   62

On Monday the Financial Conduct Authority (FCA) has published a warning against Coin Boost Inc. for proposing financial services or products in the United Kingdom without authorization. As claimed on their webite, Coin Boost Inc. suggests investment plans for bitcoin traders and markets itself as the most “secured place to invest your bitcoins.” It declares it is a registered legal international investment company in the US and its activities are controlled by the US international business officials. It also demands it acts in accordance with US legislation.

The broker confirms to have an office at 313 Patterson Road, Brooklyn, New York, UNITED STATES OF AMERICA, 11209. The UK regulatory has yet again published an alert to only deal with financial firms that have been authorized by the FCA. Individuals can check the Financial Services Register in order to see whether an organization is authorized.

The watchdog statement also informed the UK investors that if something goes wrong while trading with unauthorized brokerages, they will not be optative to get assistance from the FCA. This warning follows a recent report that demonstrated the grow of online investment fraud, that Finance Magnates reported on in January. The report claimed that investors had lost an average of GBP 87,410 (USD 118, 379) per day during 2017.

The conclusion made by the FCA’s report is that scammers’ tactics have changed and many now utilize social media and other online marketing methods to reach potential investors, instead of approaching them through traditional tactics such as cold calling.