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longest chain not only serves as proof of the sequence of events witnessed, but proof that it came from the largest pool of CPU power Satoshi Nakamoto – Bitcoin: A Peer-to-Peer Electronic Cash System
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This is known as the Blockchain.

The Blockchain enables a network of distributed nodes to achieve consensus – to agree on the common state of the network – by each proving that they had participated in that network through the proof-of-work system.

Proof of work involves solving a very difficult problem – in this case a mathematical computation – and then proving that you solved it.

In the below video, Security and Distributed Systems Expert Andreas Antonopoulos compares mining a Bitcoin to solving a Sudoku:

Take a Sudoku … it’s actually hard to figure out which numbers fit into the squares, [but] it’s very easy to check if the Sudoku’s right … easy to verify … hard to solve …. The proof-of-work which is used in Bitcoin is exactly the same, easy to verify very hard to solve.

http://youtu.be/JP9-lAYngi4?t=1m27s

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6 years

Tell me what is this difficult problem everyone talks about.

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7 years

In the next paragraph it say exactly that: “Longest proof-of work”

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7 years

It’s worth noting that Bitcoin doesn’t use the “longest chain” but rather uses the chain with the most cumulative proof of work. This was a bug that was fixed very early on by Satoshi.

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In July 2013 Fab raised more than $150M at a $1B valuation Jason Goldberg (Other) (Ft. Coldplay & Fab.com) – Betashop Quarterly. Volume 1. January 2014
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Fab.com raised the $150 Million in a Series D round co-led by Andreessen Horowitz, Atomico and Tencent.

The round was about more than just the money, though. With the inclusion of $100 Billion Chinese holding company Tencent, who took a seat on Fab’s board, Fab made a play toward expanding into China and other parts of Asia.

Speaking about the round, Goldberg said:

”It’s a way to enter markets through strategic partners who can help mitigate risk and will increase the likelihood of success.

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acquisition of socialmedian by XING in 2009 Jason Goldberg (Other) (Ft. Coldplay & Fab.com) – Betashop Quarterly. Volume 1. January 2014
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socialmedian was acquired by XING, but in December of 2008, for $4 million.

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HackerNews Jason Goldberg (Other) (Ft. Coldplay & Fab.com) – Betashop Quarterly. Volume 1. January 2014
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Shout out to Paul Graham!

Founder of startup incubator Y Combinator – Rap Genius is an alum of the Spring 2011 class – and founder of HackerNews

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autobiography Jason Goldberg (Other) (Ft. Coldplay & Fab.com) – Betashop Quarterly. Volume 1. January 2014
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Buy Onward: How Starbucks Fought for Its Life without Losing Its Soul here!

An excerpt from the book:

There are moments in our lives when we summon the courage to make choices that go against reason, against common sense and the wise counsel of people we trust. But we lean forward nonetheless because, despite all risks and rational argument, we believe that the path we are choosing is the right and best thing to do. We refuse to be bystanders, even if we do not know exactly where our actions will lead.

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57 things learned from starting 3 companies Jason Goldberg (Other) (Ft. Coldplay & Fab.com) – Betashop Quarterly. Volume 1. January 2014
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Read it here!

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a video interview with Kevin Rose Jason Goldberg (Other) (Ft. Coldplay & Fab.com) – Betashop Quarterly. Volume 1. January 2014
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http://www.youtube.com/watch?v=JDZTmwnqks4

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90 Things I’ve Learned From Founding 4 Technology Companies Jason Goldberg (Other) (Ft. Coldplay & Fab.com) – Betashop Quarterly. Volume 1. January 2014
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Read it here!

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Coldplay, The Scientist Jason Goldberg (Other) (Ft. Coldplay & Fab.com) – Betashop Quarterly. Volume 1. January 2014
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Check out the lyrics here!

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Nobody said it was easy.
No one ever said it would be so hard.
I’m going back to the start. Jason Goldberg (Other) (Ft. Coldplay & Fab.com) – Betashop Quarterly. Volume 1. January 2014
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In a style reminiscent of Ben Horowitz, Jason Goldberg – co-founder and CEO of design focused e-commerce site Fab.com – begins his blog post with a song lyric.

In this case, Goldberg begins with Coldplay’s The Scientist.

After raising $336M in the past 3 years at more than a $1B valuation, and attracting considerable attention to the startup, it’s been a tough year for Goldberg and Fab.com.

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