Published On: Tue, Dec 3rd, 2013

Coinspotting: The Newest Game In The Valley

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When it comes to defining technology trends, no place on earth can beat Silicon Valley. Most of these world changing concepts start off as small, fun stuff (remember “setting up my twtr”? ) So when you see these nerds playing around with some tech stuff, you better pay attention.

The newest game in town is called Coinspotting – and like most things in the valley, the rules are fairly simple. You need to spot a commercial bitcoin transaction that happens anywhere – in any realm – where actually someone bought something – anything – with bitcoins – or any of the ‘altcoins’ – and you win one bitcoin.

The grand winner would be the person who scores two bitcoins in the next two months. “It is a google-scale problem” said Tim Lee, a Facebook engineer who is also the founder of LuckyCoin, an alternate currency based on the bitcoin protocol. (Some people believe that he is Satoshi Nakamoto). “Coinspotting is not mathematically impossible. But it is not about the stakes – it is about the adrenaline” he told SVChronicle.

Coinspotting is the brainchild of John Pallmer, an engineer with Crypto (Some people believe that he is Satoshi Nakamoto) who says he came up with the idea when he was working on a research paper titled ‘Spotting mathematical impossibilities in a lifetime: A probabilistic approach’.

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Coinspotting: The Newest Game In The Valley