GatorLUG Meeting | 2011-07-20 | 6-8pm | Digital Gold - Bitcoin
GatorLUG Meeting Agenda for July, 20 2011
6:00 - 6:30 Announcements / General Discussion
Kindle Impressions | Zimbra Hosting |
6:30 - 7:30 Digital Gold - Bitcoin | Christian von Kleist, Ian Taylor
Bitcoin is a peer-to-peer currency. Peer-to-peer means that no central authority issues new money or tracks transactions. These tasks are managed collectively by the network.
Interest in Bitcoin has been increasing rapidly in the last year. Just like mining for gold, finding new bitcoins takes a lot of work in the form of solving complex math. You won't get very far with a standard computer and CPU. That approach typically uses enough electricity to make "mining" for bitcoins a losing proposition. This presentation will discuss what bitcoins are, why they are useful and some of the challenges that are involved with designing a "bitcoin miner". A "bitcoin miner" is a system that is optimized for finding bitcoins cost effectively.
Regardless of your position on whether anonymous digital cash is a good idea or not, the concepts and use of cryptography that drive this system is extremely clever and interesting.
Christian and Ian can be found mining bitcoins, installing more cooling fans and discussing complex math at Skillhouse.
7:30 - 8:00 Open discussion, meet and greet someone new