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Crypto Entrepreneur Sends Bitcoin (BTC) to Bloomberg Columnist Over Radio Waves

March 06, 2019

Cryptocurrency enthusiasts are embracing a new method of transferring digital assets. Rodolfo Novak, co-founder of Bitcoin hardware company CoinKite, successfully transferred Bitcoin from Toronto, Canada to Elaine Ou, Bloomberg opinion columnist and blockchain engineer at Global Financial Access located in San Francisco, California.

Ou responded to a tweet Novak sent on Friday asking if anyone wanted to attempt a transaction over radio waves using the Lightning Network, a Bitcoin scaling solution. 

Who wants to attempt a #LightningNetwork over #amateurradio on JS8?

Will be 18 messages long! 40m band looks open.

cc @SamuelPatt @eiaine ??

— DETERMINISTIC OPTIMISM |NVK|??? (@nvk) March 1, 2019

Ou accepted the offer on Twitter where the invoice was uploaded.

Bitcoin is making ham radio cool again! https://t.co/DBqCixd3dw

— [email protected] ??? (@eiaine) March 1, 2019

According to Novak,

“In case you are wondering, this is the actual Lightning Network, radio waves travel at the speed of light in air 300,000 km/s, via copper would be 5% slower.”

Despite the success of the transaction, hardware is required to power BTC transactions via radio waves. High-power transmitters can cost thousands of dollars versus low-power transmitters that cost a few hundred dollars.

Nevertheless, the tech suggests that by combining radio waves with the Lightning Network, which enables faster crypto transactions, Bitcoin can transcend not only borders to move value around the world, but also firewalls that governments use to block websites, online portals and user accounts on the internet.

Blockchain engineers are also developing infrastructure that allows Bitcoin to be moved via satellite.

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.