Bitcoin Showcases the Latest at Consumer Electronics Show

The increasing popularity of bitcoin mining technology has reached a new level, with the "Bitcoin" booth grabbing attention at this year's International Consumer Electronics Show (CES). Teaming up in the booth are: Butterfly Labs, a manufacturer of high-end mining equipment; BitPay, a bitcoin Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term processor; and Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term, which runs a bitcoin wallet service.

Their presence underscores the increasing relevance of bitcoin spin-off economies. It will be interesting to see the "GDP"'s of these industries as they relate to the return on investment when mining for the 9 million or so remaining bitcoins (roughly equal to $9B USD based on today's value).

Also at the CES is KnCMiner, a direct competitor of Butterfly Labs. KnCMiner claims that its customers generate 70% of newly mined bitcoins. Other participants include: Hashfast, a new player in the mining equipment game; and KryptoKit, which aims to streamline payments on the web; Lamassu, creators of the first bitcoin machine that allows users to dispense physical bitcoins in exchange for conventional cash; and BitcoinShop, an online mall that only accepts bitcoins for payment.

This is the third year year in which there has been some Bitcoin presence at the show. Blogs from 2012 show participants like BitPay urging peers in the cryptocurrency community to help them put their best foot forward for the over 5000 media on hand at the event. This year, the explosion of technology has grabbed media attention on its own.