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The history of digital money

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The history of digital money

Cryptocurrencies

(Image credit: Shutterstock / Wit Olszewksi)

A pivotal moment took place in the crypto industry four years ago, on August 1st, 2017, when the Bitcoin (BTC) network split into two and each holder of BTC received an equal amount in a new cryptocurrency – Bitcoin Cash (BCH). The new cryptocurrency had real value, costing as much as $400 per coin. The opportunity of getting some free cash in such a manner would herald the launch of a slew of forks. But avarice and the lust for profiteering have no place in this Bitcoin spinoff.

The pains of aging

Anything that can go wrong, will go wrong.

Murphy’s Law

The fact is that Bitcoin was becoming popular as its value grew and the number of users increased along with the volume of transactions they made. Confirmation times and transaction costs also increased, eventually impeding the development of the world’s first digital currency. No one would be willing to buy a cup of coffee using Bitcoin if they had to pay a commission double the cup’s price. In addition, the merchants were not prepared to wait for days for transaction confirmation. All these issues called into question the use of Bitcoin as a means of payment.

Bitcoin ended up implementing a technology called SegWit in an attempt to reduce transaction fees. In one sense, it has succeeded. Fees are slightly cheaper than they would otherwise be without SegWit. However, adoption of SegWit has continued for years. Even with perfect adoption, bitcoin fees remain too high for normal cash transactions.

“Today BCH is closer to the Bitcoin that Satoshi Nakamoto created, than the coin we call BTC today.”

Amaury Sechet, BCH Developer & Creator

In fact, there were two solutions and both were implemented, leading to the fork. The problems related to commissions and transaction confirmation times were solved, without the complication of SegWit, by increasing external storage space. Such a solution was overall more natural and consistent with the real Bitcoin.

Four years ago, the crypto community got another new Bitcoin and the new Bitcoin Cash, which was similar to the original Bitcoin by Satoshi. The goals that had triggered the dispute and resulted in the fork were not achieved, because neither BTC nor BCH became a means of payment like fiat currency, although BTC was formally recognized by El Salvador as on par with the US dollar.

Amaury Sechet, the founder of the eCash project and a benevolent dictator (as he calls himself), was at the heart of the events that took place four years ago. Today, eCash represents the continuation of Bitcoin’s development, combining the best aspects of BTC, BCH and BCHA. I like to entertain a degree of hope that Sechet will be able to attain the goals those projects had set for themselves.

The solutions of the dictators

Satoshi Nakamoto has never been a democrat. That is how he managed to create Bitcoin. Then Satoshi left and Bitcoin started stomping on the spot.

Amaury Sechet, BCH Developer & Creator

The history of the development of Bitcoin and the formation of this cryptocurrency as the first digital form of cash does not end with the events that had taken place four years ago, as described above. We can say that development has never really stopped and sometimes tough and unpopular decisions have been required, and have had to be made by only one person.

Satoshi Nakamoto faced such problems in the past, and Amaury Sechet faces the same problems today. At first glance, making decisions single-handedly in a decentralized project may seem like a dubious idea, but that actually helps achieve traction.

Amaury Sechet, the founder of the eCash project and a benevolent dictator (as he calls himself), was at the heart of the events that took place four years ago. Today, eCash represents the continuation of Bitcoin’s development, combining the best aspects of BTC, BCH and BCHA. I like to entertain a degree of hope that Sechet will be able to attain the goals those projects had set for themselves.

The future of digital cash

Digital cash will become the currency of the future, just as fiat is the currency of today. It will become an integral instrument of the economy. It is also likely that the migration to digital currency will not just involve the digitization of cash, but will continue on to attain such levels of progress that would be comparable with the transition from horsepower to the internal combustion engine.

I like to believe that such digital cash will be reliable, protected from inflation and convenient in everyday use, and it should also be built on the basis of a near-perfect and scalable technology that can go global.

With digital cash as its surfboard, the future would become unstoppable, even if central banks are capable of impeding their spread until the development and launch of state digital currencies. Only time will tell which digital form of cash will become dominant – alternative coins, BTC, or an iteration of some state-issued “digital yuan”.

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Leaked Alder Lake prices strike at Ryzen’s CPU dominance

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Leaked Alder Lake prices strike at Ryzen’s CPU dominance

Here’s what leaked retailer pricing tells us about the performance of Intel’s upcoming Alder Lake S CPUs.

6core vs 8core cpus

Intel / AMD / janniwet / Shutterstock

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Intel’s 12th-gen Alder Lake processors aren’t upon us yet, but another price leak indicates they might indeed compete with AMD’s best CPUs, unlike current top-end Core offerings.

The latest oopsie comes from retail IT vendor Provantage, which puts the top-end Core i9-12900K at $605. The IT vendor also lists the Core i7-12700K at $420, as well as a Core i5-12600K for $283.

After news reports of the part numbers and prices surfaced, Provantage removed the listings. The latest leak follows reports two weeks ago—supposedly from European retailers—that placed the Core i9-12900K at $705, the Core i7-12700K at $495, and the Core i5-12600 at $343.

Before you jump to any conclusions, we want to point out that as reliable as a leaked retail price might seem, they can very unreliable too. Often times stores prep for impending launches by using placeholder prices and specs. Those listings are then updated when the stores receive the final information.

The leaked info itself from Provantage would indicate it’s not quite baked yet. For example, we know the top-end Alder Lake S chip will feature 8 performance cores and 8 efficient cores (Intel’s Alder Lake chips feature a radical new mixture of big and little cores), yet the listing at Provantage lists the top-end chip as an 8-core design. 

alder lake provantage Provantage via Hothardware.com

Hothardware.com snapped this image of Intel’s 12th gen Alder Lake CPUs at retailer Provantage. that has since been removed.

Still, both combined retail leaks reinforce what we’ve already come to conclude so far: Intel’s 12th-gen Alder Lake S will at least suit up with the intent to take on AMD’s 16-core Ryzen 9 5950X.

That’s a marked change from the $550 8-core 11th gen Rocket Lake CPU, which lost badly to AMD’s $550 12-core Ryzen 9 5900X chip. With the 11th-gen desktop chips, Intel didn’t even try to field a CPU against AMD’s $750 Ryzen 9 5950X.

With its increased core efficiency, newer manufacturing process, and physically more cores than previous Intel consumer desktop CPUs, it’s entirely possible Intel’s 12th Core i9 will actually end up being somewhere between $604 and $705 when it comes out.

intel alder lake performance core benchmark Intel

Intel is touting a marked increase in core efficiency with its 12th gen Alder Lake CPUs.

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One of founding fathers of hardcore tech reporting, Gordon has been covering PCs and components since 1998.

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The best Windows backup software

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The best Windows backup software

Updated

The best programs for keeping your data and Windows safely backed up.

Rob Schultz/IDG

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We need backup software for our PCs because our storage drives won’t last forever. Backup software ensures we’re covered when the day comes that our primary drive up and dies.

It would be nice if Microsoft itself provided Windows users with something like Apple’s Time Machine: an effective, set-it-and-forget-it, total system recovery and backup solution that requires little interaction or thought on the user’s part. 

Instead, Microsoft delivers a mishmash of restore points, recovery discs, file backup, and even the un-retired System Backup (Windows 7), which was probably originally put out to pasture for its propensity to choke on dissimilar hardware. Online backup services are another option, but desktop clients tend to offer far more flexibility. 

Plenty of vendors have stepped in with worthy alternatives, and while none are quite as slick or transparent as Time Machine, some come darn close—and many are free. Read on for our top picks. 

Updated on 9/15/21 to include our review of the newest version of Aomei Backupper 6. It remains our favorite free backup software for Windows because it provides a near-total backup solution, with a generous number of features. As a paid program, however, there are better options. Read more about it below. And scroll to the bottom of this article to see links to all our backup software reviews.

Best overall backup software

There’s a reason True Image is renowned in the world of backup software. It’s capable, flexible, and rock-solid reliable. Indeed, it’s easily the most comprehensive data safety package on the planet.

Besides offering unparalleled backup functionality that’s both robust and easy to navigate, True Image integrates security apps as well, which protect against malware, malicious websites, and other threats using real-time monitoring. Read our full review.

Best free backup software

Among the free programs we tested, Backupper Standard wins primarily because it has the most features, including imaging, file backup, disk cloning, and plain file syncing, plus multiple scheduling options (see our full review). This was the case with Backupper 4, and the latest version has only added more options, making it a surprisingly well-rounded free offering. We hit a few performance snags with less-conventional system setups, but for the average user, it should perform as expected.

What to look for in backup software

As with most things—don’t over-buy. Features you don’t need add complexity and may slow down your system. Additionally, if you intend to back up to a newly purchased external hard drive, check out the software that ships with it. Seagate, WD, and others provide backup utilities that are adequate for the average user.

File backup: If you want to back up only your data (operating systems and programs can be reinstalled, though it’s mildly time- and effort-consuming), a program that backs up just the files you select is a major time-saver. Some programs automatically select the appropriate files if you use the Windows library folders (Documents, Photos, Videos, etc.).

Image backup/Imaging: Images are byte-for-byte snapshots of your entire hard drive (normally without the empty sectors) or partition, and can be used to restore both the operating system and data. Imaging is the most convenient to restore in case of a system crash, and also ensures you don’t miss anything important.

Boot media:  Should your system crash completely, you need an alternate way to boot and run the recovery software. Any backup program should be able to create a bootable optical disc or USB thumb drive. Some will also create a restore partition on your hard drive, which can be used instead if the hard drive is still operational.

Scheduling: If you’re going to back up effectively, you need to do it on a regular basis. Any backup program worth its salt allows you to schedule backups.

Versioning: If you’re overwriting previous files, that’s not backup, it’s one-way syncing or mirroring. Any backup program you use should allow you to retain several previous backups, or with file backup, previous versions of the file. The better software will retain and cull older backups according to criteria you establish.

Optical support: Every backup program supports hard drives, but as obsolescent as they may seem, DVDs and Blu-Ray discs are great archive media. If you’re worried about optical media’s reliability, M-Disc claims its discs are reliable for a thousand years, claims that are backed up by Department of Defense testing.

Online support: An offsite copy of your data is a hedge against physical disasters such as flood, fire, and power surges. Online storage services are a great way to maintain an offsite copy of your data. Backup to Dropbox and the like is a nice feature to have.

FTP and SMB/AFP: Backing up to other computers or NAS boxes on your network or in remote locations (say, your parent’s house) is another way of physically safeguarding your data with an offsite, or at least physically discrete copy. FTP can be used for offsite, while SMB (Windows and most OS’s) and AFP (Apple) are good for other PCs or NAS on your local network.

Real time: Real-time backup means that files are backed up whenever they change, usually upon creation or save. It’s also called mirroring and is handy for keeping an immediately available copy of rapidly changing data sets. For less volatile data sets, the payoff doesn’t compensate for the drain on system resources. Instead, scheduling should be used.

Continuous backup: In this case, ‘continuous’ simply means backing up on a tight schedule, generally every 5 to 15 minutes, instead of every day or weekly. Use continuous backup for rapidly changing data sets where transfer rates are too slow, or computing power is too precious for real-time backup.

Performance: Most backups proceed in the background or during dead time, so performance isn’t a huge issue in the consumer space. However, if you’re backing up multiple machines or to multiple destinations, or dealing with very large data sets, speed is a consideration.

How we test

We run each program through the various types of backups it’s capable of. This is largely to test reliability and hardware compatibility, but we time two: an approximately 115GB system image (two partitions), and a roughly 50GB image created from a set of smaller files and folders. We then mount the images and test their integrity via the program’s restore functions. We also test the USB boot drives created by the programs.

All of our reviews

If you’d like to learn more about our top picks as well as other options, you can find links below to all of our backup software reviews. We’ll keep evaluating new programs and re-evaluating existing software on a regular basis, so be sure to check back for our current impressions.

Note: When you purchase something after clicking links in our articles, we may earn a small commission. Read our affiliate link policy for more details.

Jon is a Juilliard-trained musician, former x86/6800 programmer, and long-time (late 70s) computer enthusiast living in the San Francisco bay area. [email protected]

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Razer just made gamer thimbles

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Razer just made gamer thimbles

Or maybe they’re yoga pants for your thumbs?

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Razer has never been afraid to take a shot on products that seem unusual at first glance. Witness its RGB-infused N95 mask, the now-defunct Razer Game Store with its own zVault currency, or the first-gen Firefly mousepad, which has evolved into something special but originally prompted us to review it against a ripped-up piece of cardboard. The company’s latest offering might just take the cake though. This week, Razer introduced gamer thimbles.

Yes, thimbles. You know, like the Monopoly piece (or the sewing accessory for more worldly folks out there). Seriously.

Well, not quite. If you simply can’t abide sweaty palms and greasy fingerprints interfering with your marathon mobile Fortnite sessions, the new Razer gaming finger sleeve may be up your alley. “Slip on and never slip up with Razer Gaming Finger Sleeve that will seal your mobile victory,” Razer’s site breathlessly boasts.  “Woven with high-sensitivity silver fiber for enhanced aim and control, our breathable sleeves keep your fingers deadly cool in the heat of battle, so you’ll always have a grip on the game.”

Razer says the 0.8mm-thick sleeves are sweat absorbent, and that they’re made from nylon and spandex. So maybe they’re more like gamer yoga pants? But you know, for your fingers?

Either way it’s ludicrous. And unlike most of Razer’s gear, the gamer thimbles understandably (yet sadly) lack RGB lighting. But if you want to wear your dedication to the Cult of Razer on your slee…thumb, or maybe just look snazzier when you’re passing Go and collecting $200, you can pick up a pair of Razer gaming finger sleeves on the company’s website for $10. The truly dedicated can double down to look especially gamer:

razer gamer thimbles 2 Razer

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