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He has also impressed in Scotland this season with Motherwell currently third in the Premiership. Healy's stock continues to rise following Linfield's impressive run in Europe this summer when they narrowly missed out on reaching the group stages of the Europa League. Here's our main Belfast Live Facebook page. On Twitter, you can follow our account by clicking here. If you're a lover of photos, then check out our Instagram.

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Inside bitcoins the future of virtual currency for nba

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Wednesday February 10, Home Contact us. Search for:. Leave a Reply Cancel reply Your email address will not be published. Leave this field empty. When the Bitcoin system was created, 21 million Bitcoins were hidden inside the extremely complicated computer program which verifies transactions. So far, about ten million coins remain to be discovered. A recent scandal of this nature involved the popular uTorrent sharing system operated by BitTorrent. A Bitcoin miner specifically for Litecoins called Epic Scale was packaged with several versions of BitTorrent clients, and unless a user figured out how to opt out of the installation their computer became part of the Bitcoin farming network run by Epic Scale.

Because of the resulting uproar, the mining program is no longer packaged with uTorrent or BitTorrent. The process by which virtual currency systems operate is still very much a work in progress, and governments are trying to figure out the best way to oversee — and tax — Bitcoin transactions. It seems certain, though, that these new currencies are here to stay, in one form or another.

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MICHIGAN STATE VS DUKE BETTING LINE

Dinwiddie, 25, was born in Los Angeles and grew up in an intellectual family. His mother, Stephanie, spent nearly two decades as a professor at the University of Southern California before opening her own preschool. Dinwiddie's father, Malcolm, is a real estate agent who pushed Dinwiddie to plan outside basketball. His younger brother, Taylor, studies computer engineering and has always been an academic standout. For a time, Spencer was a straight-A kid, just like Taylor. But, much in the way gold tends to peak as the stock market dips, "As I rose in basketball, inversely proportionally, I declined in school.

In Boulder, Dinwiddie majored in integrated physiology for two years before he switched to communications to lighten the workload. I told Spencer when he left here, 'If you have the career you want to have, you have the capacity to be an NBA general manager. He understands the market, and there's so many guys that don't. Bitcoin first appeared on Dinwiddie's radar in , recommended by a friend who works in finance.

At the time, Dinwiddie had little disposable income. In January of that year, as a college junior, he'd torn his ACL. As a rookie, he appeared in fewer than half of Detroit's games and spent time in the D-League. Maybe he'd have a future in the NBA, or maybe he'd flame out, as many second-round picks before him had done.

Meanwhile, he was wary of the bitcoin suggestion. He'd heard the horror stories of players who'd gone broke, and those guys had earned way more money in sports than Dinwiddie thought he might. Their tales always seemed to begin with some friend and some dubious investment. This sounded a lot like that. Cryptocurrency in ? Bitcoin was weird, laughable, a black hole. A good way for a year-old rookie to lose it all. So back when bitcoin cost somewhere between one-tenth and one-twentieth of what it does today, Dinwiddie told his friend: "Man, hell no!

Like, no fucking way. There's no chance. During his first season in Detroit, Dinwiddie purchased a spec home, where he planned to live throughout what he imagined would be a lengthy Pistons tenure. To afford the property, he took out a mortgage against future earnings.

The real estate market was considered a safer bet than crypto, but it, too, carried some risk. But Spencer is his own man. After two years in Detroit, Dinwiddie was traded to Chicago, where he bought another home. Within the next four months, he was waived twice by the Bulls. When the Nets scooped him up in December , Dinwiddie became a remote landlord twice over. He still rents out each property, and others. That month was good to Dinwiddie, too, as he scored 17 points in one game and 19 the next.

At season's end, Dinwiddie set up a Coinbase app. He was done letting bitcoin grow without him. He transferred some money from the bank and bought in. A lot of people looked at it and watched, but Spencer's not afraid to take a risk, and that's something that I really respect. You don't catch fish from the dock unless you put the line in the water, and he'll put the line in the water. By December, the price had doubled.

Dinwiddie, feeling lucky, began to research some lesser-known coins. He noticed that a cryptocurrency called Tron had secured backing from wealthy investors. He bought into Tron in early December, when bitcoin's prices were spiking. Almost immediately, Tron spiked, too.

It was quite a time to be Spencer Dinwiddie. As the crypto market took off, his basketball career went with it. November was his best month ever, as he logged a career high in minutes per game and scored a career-high 25 in a win vs. December was even better. He played more minutes per game and set another career high in scoring, all while averaging 7. During that stretch, his on-court persona finally mirrored his everyday demeanor. In conversation, Dinwiddie is confident and charismatic.

On occasion, like when discussing a profitable trade, he will lean back proudly, flash a wide grin and, like any native Californian, hang He believes he'd make a good guest on Shark Tank , and he's probably right. Dinwiddie welcomes a spotlight and its associated pressure. Recently, on Nets media day, he said , "I don't believe that anybody can guard me. In big spots, Dinwiddie has a knack for pulling off the improbable. In January, in Detroit, he buried his old team with a wonky buzzer-beating combination move: a driving pump fake followed by a drop step followed by a hideous midair up-and-under layup-looking thing.

It eluded the flailing arm of Andre Drummond and put Brooklyn ahead with but 0. Despite starting just 58 games for the Nets last year, Dinwiddie matched James Harden with clutch-time points. Yes, Dinwiddie recently had something to say about it. Next summer, he'll reach unrestricted free agency. To an outsider, it's easy to see how his lack of bona fides makes it difficult to pinpoint his value.

Many athletes might deny or downplay the uncertainty of his situation. But Dinwiddie is happy to size it up with unusual clarity and objectivity. He and the Nets can begin negotiating an extension starting on December 8—nearly 30 games into the season. Indeed, his parallel with bitcoin continues: after their respective rises, questions persist. Even Dinwiddie hedges when it comes to crypto—in December, he sold some of his coins, enough to cover his principal investment.

He exited Tron at the perfect time, just as it multiplied sixfold from his purchase price. Dinwiddie reads everything he can on the crypto market and crypto tech. His early success felt like easy money, so he began to wonder how to make more—or whether to leave ahead. Other NBA players have been doing the same, and maybe that's not surprising, as most of them fall into bitcoin's most active demographic. Twenty-one percent of people aged have made a bitcoin trade—that's three times the number among those , and 20 times the number among those plus.

Wilson Chandler of the 76ers has even taken an online crypto course. I was using Coinbase like everyone, then using different, bigger platforms so I could do more trading. Connaughton, like Dinwiddie, is a former second-round pick. He's also an avid investor—mostly real estate—who caught on to bitcoin last year. But being a business guy, I try to diversify a little bit. Here is how sports franchises and organizations are getting in on the crypto craze, as well as how the technology involved might shape the sporting world in the future.

What started out as just Bitcoin has ballooned into hundreds of new cryptocurrencies. One of the key elements to blockchain technology is how democratic and decentralized it is. Changes to the system are only permitted if those changes are agreed upon by the majority of the online collective. With this in mind, there are some professional sports clubs who are using the technology to ask fans how they wish their club to be run, with the club in question gaining some much needed funding in the process.

Once the proud owner of said coin, supporters had the ability to vote on matters as wide ranging as transfer policy to kit design. Such incredible engagement not only enhances the fan experience but brings people even closer to the brands they love. Another exciting advancement which blockchain technology allows is in-game purchases. This concept first reared its head in the world of online gaming and esports, where players spend crypto currencies on everything from new avatars to weapons.

This self-same technology could be used to help fans gain access to the stars and teams of Mountain West Football. Want to chat to a player on the bench? Wish to be a fly on the locker room wall during the half-time team talk? Suddenly all these options can be monetized and offered to fans, who will pay for them with cryptocurrency.

Perhaps one of the most promising applications of blockchain technology in sport will be that it makes ticket touts obsolete. Ticket distribution can be strictly policed by the venue in question, meaning that the face value of a ticket is all that is ever paid. This would bring an end to fans being ripped off by sites touting tickets and mean that only the most dedicated fans got to be present at important games.

The holy grail for advocates of cryptocurrency usage in sport is for trades and salaries to be paid using the likes of Bitcoin and Ethereum. Such trades are already being toyed with. One example is the sponsorship deal struck between speed skater Ted-Jan Bloemen and ONG Social, the latter paying the former exclusively in Bitcoin to promote their services.