Keyword: bitcoin

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  • Court Rules IRS Can Seek Information on Bitcoin Customers

    12/01/2016 4:53:34 AM PST · by TigerLikesRooster · 12 replies
    WSJ ^ | Dec. 1, 2016 | Paul Vigna
    Court Rules IRS Can Seek Information on Bitcoin Customers Agency to serve Coinbase with summons as part of wide-ranging tax probe By Paul Vigna Updated Dec. 1, 2016 4:35 a.m. ET A federal court on Wednesday ruled that the Internal Revenue Service can serve digital-currency-services company Coinbase with a “John Doe summons” that seeks detailed information on its customers’ transactions from 2013 to 2015. The IRS and the Justice Department are looking for information about the use of the digital currency bitcoin and the possibility that it has been used to evade federal tax laws over the three-year period. The...
  • Alternative Blockchain Uses

    11/30/2016 9:51:34 AM PST · by TigerLikesRooster · 3 replies
    Nasdaq ^ | November 30, 2016
    Alternative Blockchain Uses November 30, 2016, 09:47:34 AM EDT By Due.com The system behind cryptocurrencies like Bitcoin, known as blockchain, is now being explored for other potential applications. It’s so powerful that big banks like Bank of America are taking out patents on the blockchain technology to study it further to see how it can leverage its power. Now others are investigating other uses for blockchain. /snip Alternative Uses for Blockchain /snip A blog on Bytecoin noted numerous alternative uses for blockchain, starting with Namecoin’s pioneering application of distributed DNA in which its goal is to allow registering standard DNS...
  • Bitcoin Price: Billionaire Bill Gross Prefers BTC Over Central Banking

    10/07/2016 10:21:52 PM PDT · by aquila48 · 6 replies
    bitcoinist ^ | 2016/10/06 | Nick Marinoff
    The bitcoin price hasn’t moved since our last price piece, and $611 remains as the mark where bitcoin makes its present home. However, despite the sideways movement, billionaire Bill Gross seems optimistic. Things haven’t gone great so far. We’re not down on the markets or anything – we’re a little bit up on our Monday balance – but things have been incredibly dull. When we get action like this, all we can do is sit and wait, maybe dabble with an attempt at a fundamental bias for a bit of variety. The thing is, you only really realize it when...
  • Gross: Low Rates Pushing Investors to Gold, Bitcoin

    10/05/2016 7:43:54 AM PDT · by oblomov · 7 replies
    Barron's ^ | 4 Oct 2016 | Bill Gross
    My country club locker room is a fascinating 19th hole observatory where human nature and intelligence often come into conflict. Almost all of my golfing buddies are risk takers by nature and many of them are gamblers — not just in the card room but also in the casinos in Las Vegas. Having spent some time in Sin City myself in my early 20s as one of the first blackjack counters, I was, and still am, most familiar with odds and the impossibility of beating the “House” in any game other than blackjack over a long period of time. Still,...
  • Secure Voting Solution Unites Bitcoin Blockchain and Paper Ballots

    09/06/2016 7:54:31 AM PDT · by amorphous · 33 replies
    Cryptocoinsnews.com ^ | 6 Sep 2016 | Samburaj Das
    Bitcoin ATM-developer and blockchain-tech firm Blockchain Technologies Corp (BTC) has revealed that it is developing a tamper-resistant voting machine dubbed “VoteWatcher.” New York-based Blockchain Technologies Corp., a blockchain- and bitcoin-centric firm and startup accelerator has revealed that it is currently working on a blockchain voting machine that it deems will be “tamper-resistant”. The machine, dubbed “VoteWatcher”, is aimed at ensuring two core functionalities of a voting process. According to the firm, they are: •To ensure that the voting machine correctly captures the voter’s intent. •To safeguard voters’ trust that their votes are being counted correctly. While advances in voting technology...
  • China's Social Security to Use Blockchain Tech

    09/04/2016 9:57:23 AM PDT · by amorphous · 4 replies
    Cryptocoin News ^ | 4 Sep 2016 | Andrew Quentson
    The Chinese government is to use blockchain technology for social security payments such as unemployment benefits and pensions. According to China Daily, Wang Zhongmin, vice-chairman of the National Council for Social Security Fund states: “There’s no doubt that blockchain technology will be used in the social security system because of its valuable applications in the investment and management of social security funds.” The National Council for Social Security manages almost $300 billion with a budget increasing yearly by 24.6 percent. Due to blockchain’s ability to cut out middle men, they are hoping to decrease costs and increase efficiency with clearing,...
  • VISA to Test Blockchain Payments among Banks; a SWIFT Rival?

    09/01/2016 8:51:37 AM PDT · by amorphous · 1 replies
    Cryptocoin News ^ | 1 Sept 2016 | Samburaj Das
    VISA and blockchain-technology partner BTL will invite a select group of European banks to participate in a blockchain project that will see inter-bank payments made via transfers over the ledger. Hot on the heels of the likes of R3, Visa will experiment its own blockchain-based payments platform with a select group of banks who will send money over a blockchain. The proof-of-concept project will use Interbit, a cross-border blockchain remittance and settlement platform developed by industry startup BTL. Launched earlier this year, the Interbit platform is seen by Visa as the solution to “reduce cost, settlement time, credit risk, and...
  • Digital Currencies Are Bringing to Reality Hayek's Free Market Money

    08/27/2016 3:22:22 PM PDT · by amorphous · 55 replies
    Cryptocoin News ^ | 28 August 2016 | Andrew Quentson
    “When one studies the history of money one cannot help wondering why people should have put up for so long with governments exercising an exclusive power over 2,000 years that was regularly used to exploit and defraud them. This can be explained only by the myth (that the government prerogative was necessary) becoming so firmly established that it did not occur even to the professional students of these matters (for a long time including the present writer!) ever to question it. But once the validity of the established doctrine is doubted its foundation is rapidly seen to be fragile.” –...
  • Marinea – Sustainable ‘Village At Sea’ – Plans To Use Bitcoin

    08/25/2016 1:24:59 PM PDT · by amorphous · 34 replies
    Cyptocoinnews.com ^ | 25 August 2015 | Elliot Maras
    Marinea, a company planning to establish a self-sustaining “Village At Sea’ between Miami and Cuba, plans to use bitcoin as its currency and eventually have its own electronic currency. Bitcoin, a decentralized currency with no centralized governing authority, naturally fits the Marinea goals of being an independent, self-sustaining society. Marinea is a utopian concept for a village existing in harmony with nature, where citizens will be able to live their lives as they see fit. Another goal is to address the challenges related to limited available land for food cultivation and human habitation. According to its website, the project has...
  • Report: Blockchain to Rewrite the Financial Infrastructure’s Future

    08/13/2016 11:59:18 AM PDT · by amorphous · 5 replies
    CryptoCoinsNews.Com ^ | 13 August 2013
    Blockchain technology is expected to change the way financial organizations conduct business with banks implementing distributed ledger technology (DLT) projects by 2017, according to the World Economic Forum. After 12 months of research which saw the WEF engage over 200 industry leaders and subject matter experts through interviews and multi-stakeholder workshops, the organization compiled a 130-page report on the impact distributed ledger technology (DLT), also known as blockchain, will have on the financial infrastructure’s future. WEF’s ‘The Future of Financial Infrastructure’ report found that ‘applications of DLT will differ by use case, each leveraging the technology in different ways for...
  • Venezuela’s Hyperinflation Sees Record Highs of Bitcoin Use

    08/10/2016 11:50:00 AM PDT · by amorphous · 5 replies
    Crytocoinnews.Com ^ | 8 August 2016 | Rebecca Campbell
    The month of July saw a high number of bitcoin transactions in Venezuela with August achieving a new record high as more people turn to the digital currency as the country continues to tackle the inflation of Bolivar. Venezuela is a country that is blighted by hyperinflation. According to the International Monetary Fund (IMF), Venezuela is projected to remain in a deep recession in 2016. Compared to contraction rate of 5.7 percent in 2015, 2016 saw a rise of 8 percent. Political uncertainty and the decline in the price of oil are factors affecting macroeconomic imbalances and pressures. The IMF...
  • Bitcoin worth $72 million stolen from Bitfinex exchange in Hong Kong

    08/03/2016 7:52:26 AM PDT · by C19fan · 27 replies
    Reuters ^ | August 3, 2016 | Clare Baldwin and Hera Poon
    Nearly 120,000 units of digital currency bitcoin worth about US$72 million was stolen from the exchange platform Bitfinex in Hong Kong, making it the second-biggest security breach ever of such an exchange.
  • Bitcoin not money, Miami judge rules in dismissing laundering charges

    07/28/2016 6:51:46 PM PDT · by oblomov · 8 replies
    Miami Herald ^ | 25 Jul 2016 | BY DAVID OVALLE
    A Miami-Dade judge ruled Monday that Bitcoin is not actually money, a decision hailed by proponents of the virtual currency that has become popular across the world. In a case closely watched in financial and tech circles, the judge threw out the felony charges against website designer Michell Espinoza, who had been charged with illegally transmitting and laundering $1,500 worth of Bitcoins. He sold them to undercover detectives who told him they wanted to use the money to buy stolen credit-card numbers. But Miami-Dade Circuit Judge Teresa Mary Pooler ruled that Bitcoin was not backed by any government or bank,...
  • After Bitcoin, Chinese Go Crazy About Silver

    07/09/2016 6:25:39 PM PDT · by TigerLikesRooster · 41 replies
    Epoch Times ^ | July 5, 2016 | Valentin Schmid
    After Bitcoin, Chinese Go Crazy About Silver By Valentin Schmid, Epoch Times July 5, 2016 AT 3:30 PM Last Updated: July 7, 2016 12:06 pm Chinese speculators have the reputation of buying anything and everything that is going up. Real estate, the stock market, copper, bitcoin, and now silver. Futures in Shanghai reached their upside limit when prices hit $21.13 per ounce, up 6.9 percent on the day. Chinese are behind the bulk of the buying as volumes on the Shanghai futures exchange exploded to 95 billion yuan ($14.2 billion) last Friday. The price has since retreated to a tad...
  • How China Took Center Stage in Bitcoin’s Civil War

    07/07/2016 5:04:37 PM PDT · by C19fan · 3 replies
    NY Times ^ | June 29, 2016 | Nathaniel Popper
    A delegation of American executives flew to Beijing in April for a secret meeting just blocks from Tiananmen Square. They had come to court the new kingmakers in one of the strangest experiments in money the world has seen: the virtual currency known as Bitcoin. Against long odds, and despite an abstruse structure, in which supercomputers “mine” the currency via mathematical formulas, Bitcoin has become a multibillion-dollar industry. It has attracted major investments from Silicon Valley and a significant following on Wall Street.
  • Possible use of Bitcoin/Blockchain technology for voting

    06/09/2016 2:36:31 PM PDT · by ganeemead · 39 replies
    There is evidence of large-scale fraud involved in last Thursday's democrat primary in California. The present voting system in America involves a voter walking into a room, pulling a lever on a machine, and thereafter having nothing resembling control over how the record of his vote is maintained nor any sort of confidence that his vote is being counted as he might wish. That is clearly untenable, hugely subject to abuse and fraud, and it is remarkable that the American people have ever tolerated it. If we do not have some sort of a rational and decent voting system in...
  • Bitcoin Is Soaring On Unprecedented Burst In Chinese Buying

    05/29/2016 5:04:47 PM PDT · by oblomov · 28 replies
    Zero Hedge ^ | 29 May 2016 | "Tyler Durden"
    Last September (when bitcoin was trading at $230) we said that "As China Scrambles To Enforce Capital Controls, This Is Great News For Bitcoin" and that it is only a matter of time before Chinese buyers figure out that in a world in which the freeflow of capital out of China is increasingly more suppressed and where physical gold is actively being stored in China but is next to impossible to get it out of the country, it is only a matter of time before bitcoin explodes as China's bubble berserk population scrambles to buy. One month ago, we showed...
  • 'I'm Sorry,' Says Man Who Claimed To Be Bitcoin's Creator

    05/05/2016 11:54:15 AM PDT · by nickcarraway · 9 replies
    NPR ^ | May 5, 2016 | BILL CHAPPELL
    Days after he published a lengthy blog post in which he claimed to be "Satoshi Nakamoto," the alias used to create the bitcoin cryptocurrency, Australian Craig Wright has erased the post and replaced it with one that says he doesn't "have the courage" to prove his claim. Here's what seems to be the central paragraph in the new post: "When the rumors began, my qualifications and character were attacked. When those allegations were proven false, new allegations have already begun. I know now that I am not strong enough for this." The mysterious short posting, which replaces one in which...
  • CME Group and Crypto Facilities Announce Launch of Bitcoin Reference Rate and Real-Time Index

    05/03/2016 3:01:07 PM PDT · by bkopto · 1 replies
    CME Group ^ | 5/2/2016 | staff
    CME Group, the world's leading and most diverse derivatives marketplace, today announced it will collaborate with Crypto Facilities Ltd., a digital assets trading platform, to develop two new products planned to launch in the fourth quarter of 2016: CME CF Bitcoin Reference Rate (BRR), which will provide a final settlement price in U.S. dollars at 4 pm London time on each trading day, and CME CF Bitcoin Real Time Index (RTI), which will allow users real-time access to bitcoin prices. The BRR will aggregate the trade flow of major bitcoin spot exchanges during a specific calculation window into a once-a-day,...
  • How Craig Wright Privately ‘Proved’ He’s the Father of Bitcoin

    05/02/2016 12:18:38 PM PDT · by nickcarraway · 9 replies
    Wired ^ | 05.02.16 | ANDY GREENBERG
    WHEN RUMORS SURFACED early last month that Australian cryptographer Craig Wright would attempt to prove that he created Bitcoin, Gavin Andresen remained skeptical. As the chief scientist of the Bitcoin Foundation, his opinion counts: Andresen is among the earliest programmers for the cryptocurrency, and likely the one who has corresponded more than anyone with Satoshi Nakamoto, Bitcoin’s pseudonymous, long-lost inventor. Today, Andresen fully believes that Wright is Nakamoto. Now he’ll have to convince the rest of the world, because he’s among the only people to have seen what he claims is the best evidence in Wright’s favor. In an interview...
  • Larry Summers joins bitcoin firm as a senior advisor

    04/28/2016 11:40:56 AM PDT · by posterchild · 11 replies
    finance.yahoo.com ^ | Apr 28, 2016 | Daniel Roberts
    Digital Currency Group is busy these days. In the last four months alone, the company acquired the biggest bitcoin news site, CoinDesk, and along with it, the biggest bitcoin conference, Consensus; it also gave money to Coin Center, the bitcoin industry's nonprofit advocacy group. On Thursday, DCG announced a laundry list of new investors and additions to its team, and among them is one very big name: Larry Summers. Summers, former Treasury secretary and former president of Harvard University, is joining DCG as a senior advisor. It is a reminder that Summers believes in the future of bitcoin, the crypto-currency...
  • Opinion: Here’s why you have to start taking bitcoin seriously

    02/19/2016 10:06:48 AM PST · by Citizen Zed · 53 replies
    MarketWatch ^ | 2-19-2016 | Brett Arends
    For years the conventional wisdom in finance has been that bitcoins are a silly technological game, a bubble, and a fad. Today: Not so much. Bitcoins have just gotten serious, and people are going to have to start paying attention to this digital currency. That means investors, governments, and those trying to fight crime as well. This was already true even before the news out of California that criminals just used bitcoins to extort $17,000 in blackmail from a hospital and make, so far, a clean getaway. Bitcoins are booming. They have doubled in price in the last six months....
  • Shkreli, America's most 'hated' man, loses $15M in bitcoin with Kanye album scam

    02/15/2016 7:53:58 PM PST · by DeathBeforeDishonor1 · 18 replies
    SOTT ^ | 2/15/16
    Get out your tiny violins. Martin Shkreli, the man America loves to hate, appears to have lost $15 million in bitcoins after he tried to buy the rights to Kanye West's new album. The now-ex-CEO of Turing Pharmaceuticals, who hiked the price of HIV medication by 5,000 percent, was trying to buy Kanye West's album from his record label so he could sell it on to his fans.
  • Bloomberg Op-Ed Calls For An End Of Cash

    01/31/2016 10:57:04 PM PST · by MarchonDC09122009 · 173 replies
    Zerohedge.com ^ | 01/31/2016 | Tyler Durden
    So It Begins: Bloomberg Op-Ed Calls For An End Of Cash http://www.zerohedge.com/news/2016-01-31/bloomberg-op-ed-calls-end-cash So It Begins: Bloomberg Op-Ed Calls For An End Of Cash Submitted by Tyler Durden on 01/31/2016 In a moment of curious serendipity, a little over 90 minutes after we showed what a dystopian, centrally-planned, cashless society unleashed in a negative interest rate world would look like ("by forcing people and companies to convert their paper money into bank deposits, the hope is that they can be persuaded (coerced?) to spend that money rather than save it because those deposits will carry considerable costs"), and briefly after we...
  • The decline of Bitcoin shows you can't engineer past government

    01/20/2016 7:04:50 AM PST · by C19fan · 10 replies
    The Week ^ | January 20, 2016 | Ryan Cooper
    One consistent idle daydream on the American right is somehow living outside of government. From Ayn Rand's "Galt's Gulch," where a bunch of plutocrats secede from America to gleefully watch society collapse without its job creators, to nutty Silicon Valley plans for "seasteading," somebody is always working on a government-free society. Over the last few years, many technology-minded thinkers and programmers have made such ideas a reality. Perhaps most notable is Bitcoin, the first fully decentralized currency and payment system. With big government interference all but impossible, surely this virtual money would be the dawn of a new age of...
  • Lead developer quits bitcoin saying it 'has failed'

    01/15/2016 3:55:40 PM PST · by BenLurkin · 14 replies
    reuters ^ | 01/15/2016 | Jemima Kelly
    Bitcoin slid by 10 percent on Friday after one of its lead developers, Mike Hearn, said in a blogpost that he was ending his involvement with the cryptocurrency and selling all of his remaining holdings because it had "failed". Hearn, one of five senior developers who has spent more than five years working on the web-based currency, said he would no longer be taking part in development. "Despite knowing that bitcoin could fail all along, the now inescapable conclusion that it has failed still saddens me greatly," Hearn said in his post on blog-publishing platform Medium. Along with Gavin Andresen,...
  • Bitcoin Best Practices: How A Newbie Can Neither Lose Coins Nor Fall Victim To Digital Theft (Op-Ed)

    01/15/2016 8:49:01 AM PST · by Another Post-American · 2 replies
    CoinTelegraph ^ | 01/15/16 | James Stallings
    I lost the first bitcoin I had, shortly after the first Mt. Gox compromise. If you haven't lost coin yourself, I'm sure you've heard of those who have. The reasons vary, but all come down in the end to a lack of experience and education. As we go about bringing bitcoinCT r: 7 more into use in our day-to-day lives, it becomes important to have a basic understanding of what bitcoin is, how it works, and how we can use it without putting our value at unnecessary risk. A very short primer on Bitcoin and the Blockchain Firstly, Bitcoin is...
  • 7 Emerging Trends For Bitcoin and the Blockchain

    01/14/2016 6:56:31 AM PST · by Another Post-American · 10 replies
    CoinDesk ^ | 1/14/16 | Daniel Palmer
    Over the holiday season, CoinDesk published a wide range of feature articles from experts and stakeholders in and outside of the bitcoin and blockchain industry. Billed as our 2015 Review, the series encouraged guest writers – including experts on law and finance, academics, entrepreneurs and even readers – to discuss the year past and the year ahead. Our contributors didn't always agree, but they did come up with a number of intriguing predictions, each influenced by their unique positions and experiences in the field. In this article, we've pared down that information to define seven key trends that could shape...
  • 2015 Was Do or Die for Bitcoin Miners But Promise Lies Ahead

    01/08/2016 10:14:02 AM PST · by Another Post-American · 2 replies
    CoinDesk ^ | 1/8/16 | David Carlson
    Dave Carlson is a software engineer and 10-year veteran startup entrepreneur. Beginning in 1999, Dave has played a primary role in several multimillion dollar startups and personal ventures. In 2010, Dave discovered bitcoin and soon after founded "decentralized" bitcoin mining firm MegaBigPower. 2015 continued the trend: as the price of bitcoin fell and mining difficulty rose, miners were forced to sell both their bitcoin holdings and newly mined bitcoins to cover operating expenses and fuel growth. This increased downward pressure on the price of bitcoin, and gives us all a painful reminder of how this network is designed with respect...
  • Ethereum Will Arrive (and 15 Other Blockchain Predictions for 2016)

    01/06/2016 7:32:58 PM PST · by Another Post-American · 8 replies
    CoinDesk ^ | 1/6/16 | Andrew Keys
    Andrew Keys is the director of communications of ConsenSys and co-founding member of ConsenSys Enterprise, the consulting group within ConsenSys. Previously, Andrew worked for UBS in equities analysis. Here, he offers 16 predictions for the blockchain and decentralized technologies sector in 2016. 1. Many who used the terms 'blockchain' or 'distributed ledger' will learn they actually meant Ethereum Ethereum will begin to demonstrate its power as less effort is required on the protocol (given the successful version 1.0 release on 31st July, 2015), and more development is focused on decentralized applications. Moreover, Ethereum browsers like Meta Mask and Mist and...
  • Amid Bitcoin Centralization Worries, Core Developers Start New Currency Called Decred

    12/27/2015 9:06:03 PM PST · by Utilizer · 19 replies
    Softpedia ^ | 28 Dec 2015, 01:33 GMT | Catalin Cimpanu
    Some of Bitcoin's core developers have left the project and are now starting their separate digital currency called Decred, promoting an open governance model, which they say is missing in Bitcoin. Few people know how Bitcoin works, and even fewer know who are the men and companies behind the cryptocurrency, and who takes the decisions. According to a press release put out by Company 0 LLC, formed by former Bitcoin developers, there are a few external entities that fund the actual development of the Bitcoin cryptocurrency, forming a power-group that is in sole command of the direction the currency takes.
  • Why Blockchain is Still a Decade from Mainstream

    12/12/2015 3:27:36 AM PST · by Another Post-American · 2 replies
    CoinDesk ^ | 12/12/15 | Chris Skinner
    hris Skinner is a banking and technology and technology veteran who serves as the chairman of the Financial Services Club, a group created in 2004 to address the future of companies that serve financial markets. I’m often asked how quickly the changes I outline will take place, and my answer is between 10 and 20 years. The building of the real-time, almost free financial network on the Internet using blockchain and mobile will take about a decade at least before it becomes mainstream. "Oh," some go. "That's a way off. Can we talk about something happening sooner?" That's an interesting...
  • Australian police raid Sydney home of reported bitcoin creator

    12/09/2015 8:39:49 AM PST · by C19fan · 15 replies
    Reuters ^ | December 9, 2015 | Byron Kaye and Colin Packham
    Australian police raided the Sydney home and office on Wednesday of a man named by Wired magazine as the probable creator of bitcoin and holder of hundreds of millions of dollars worth of the cryptocurrency, Reuters witnesses said. More than a dozen federal police officers entered a house registered on the electoral roll to Craig Steven Wright, whom Wired outed as the likely real identity of Satoshi Nakamoto, the pseudonymous figure that first released bitcoin's code in 2009. Locksmiths broke open the door of the property, in a suburb on Sydney's north shore. When asked what they were doing, one...
  • Reports Claim Satoshi Nakamoto Might Be 44-Year Old Australian

    12/09/2015 3:37:55 AM PST · by Another Post-American · 34 replies
    CoinDesk ^ | 12/9/15 | Stan Higgins
    New reports by Wired and Gizmodo may have identified the pseudonymous creator of bitcoin, Satoshi Nakamoto, as Australian entrepreneur Craig S Wright. WIRED cites "an anonymous source close to Wright" who provided a cache of emails, transcripts and other documents that point to Wright's role in the creation of bitcoin. Gizmodo cited a cache of documents sourced from someone claiming to have hacked Wright’s business email account, as well as efforts to interview individuals close to him. The news outlets further claimed that Dave Kleiman, a computer forensics expert who died in April 2013, played a significant role in the...
  • Expectations High For Blocksize Debate Ahead of Hong Kong Summit

    12/02/2015 10:02:43 AM PST · by Another Post-American · 4 replies
    Pete Rizzo ^ | 12/2/15 | CoinDesk
    Beneath the positive headlines – a record year for startup funding and growing interest from financial incumbents – there’s a sense of unease in the bitcoin industry over the now months-long debate on a proposed change to the protocol that governs what is to date the world’s most widely used and longest-running public blockchain. ADVERTISEMENT The debate will be given renewed life this weekend when some of the industry’s most influential, and most historically elusive, stakeholders gather in Hong Kong for two days of technical discussions as part of the second installment of Scaling Bitcoin, a development conference sponsored by...
  • Bitcoin in a Suit: Why the Tech's Big Battle is Already Won

    11/29/2015 6:33:21 PM PST · by Another Post-American · 18 replies
    CoinDesk ^ | 11/29/15 | John Biggs
    A week ago I was in Belgrade watching a panel on "blockchain." The makeup of the panel was typical: a young, plugged-in VC, an older banker guy and a crypto-anarchistic dude in a T-shirt. It was like watching a movie called "Bitcoin is Good And Bad" for the 50th time. I knew what was happening but I couldn't look away. The panel started normally - VC guy said he liked the blockchain specifically but was iffy about those bitcoins, the older gentleman said bitcoin was bad, but then the anarchist dude was quiet. He let the banker talk. The banker...
  • CoinTelegraph’s Weekly Top-5 News to Influence Bitcoin Price in the World

    11/23/2015 3:26:51 AM PST · by Another Post-American · 2 replies
    CoinTelegraph ^ | 11/23/15 | Nina Lyon
    Cryptocurrency price fluctuation depends greatly on related news and events around of the World. This week various events including the political proposal in Southeast Asia, a new service for US customers, the expansion of the largest global banks consortium to research distributed ledger technology and the rise of new platforms to make “BitcoinCT r: 6 Only” purchases have also had a great influence on the Bitcoin price. And here are some of them. Singapore Prime Minister Said National Banks Can Use Blockchain At the United Overseas Bank (UOB) 80th anniversary dinner, Lee Hsien Loong, Prime Minister of Singapore, commented that...
  • Core Developers Call for New Bitcoin Software Strategy at MIT

    11/19/2015 3:44:27 AM PST · by Another Post-American · 12 replies
    Coindesk ^ | 11/18/15 | Pete Rizzo
    Bitcoin Core developers Gavin Andresen, Cory Fields and Wladimir van der Laan expanded on their larger vision for development of the open-source bitcoin project at an event held yesterday by their new employer, MIT Media Lab. In the hour-and-a-half session, moderated by MIT Media Lab director Joi Ito, Andresen voiced his belief that bitcoin needs to evolve away from having one dominant software implementation, stating that he believes the project to be in the midst of this transition. The remark comes amid a larger debate focused on updating bitcoin’s software to allow for a greater number of transactions to be...
  • Nobel Prize Committee to 'Discuss' Bitcoin Creator's Nomination

    11/11/2015 1:45:07 PM PST · by Another Post-American · 24 replies
    Coindesk ^ | 11/11/15 | Stan Higgins
    The prize committee for the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel – known more commonly as the Nobel Prize in Economics – is set to discuss the nomination of bitcoin creator Satoshi Nakamoto. The move comes days after UCLA finance professor Bhagwan Chowdhry penned an op-ed in The Huffington Post stating his intention to nominate Nakamoto for the prize. In his widely-covered article, Chowdhry wrote that Nakamoto deserves the prize because his invention, bitcoin, is "nothing short of revolutionary". Following its publication, however, some observers raised the question of whether Chowdhry violated nomination rules by...
  • US Justice Department Holds Blockchain Summit in San Francisco

    11/10/2015 3:20:11 AM PST · by Another Post-American · 3 replies
    Coindesk ^ | 11/10/15 | Pete Rizzo
    The US Department of Justice (DOJ) convened a first-of-its-kind conference on digital currency and the blockchain in San Francisco today. According to the agency, the goal of the event was to unite the private and public sector in discussions centered on strategies for limiting cybercrime perpetrated with the emerging technologies. The unpublicized event, organized by the DOJ’s Digital Currency Task Force and held at the Federal Reserve Bank in San Francisco, saw 175 industry participants engage in panel discussions that sought to emphasize its core theme from the point of view of entrepreneurs, law enforcement officials and regulators. Though no...
  • Europeans Can Now Receive Their Paycheck in Bitcoin

    11/09/2015 2:05:18 AM PST · by Another Post-American · 12 replies
    Coin Telegraph ^ | 11/9/15 | Joseph Young
    Europe-based bitcoinCT r: 3 services provider Cashila has recently released a Bitwage-like Euro-to-Bitcoin payroll system, allowing European employees to request their wages to be paid in bitcoin through a simple bank or SEPA payment. The payment process of the sender or the employer will stay the exactly the same. On the Cashila platform, the receiver will create a payroll request with the inclusion of necessary bank details, including specific reference number, IBAN Bank account number, payment amount, etc. Once completed, employees and freelancers can export the invoice as a PDF or send it via email to their employers and wait...
  • Biggest Bitcoin Exchange OKCoin Suffers Cyber Attack; Price Plummets

    11/05/2015 8:10:12 AM PST · by Another Post-American · 14 replies
    Coin Telegraph ^ | 11/5/15 | Joseph Young
    The world’s largest bitcoin exchange OKCoin has suspended some of its services indefinitely, following a malicious cyber attack from unknown hackers. Due to an increasing number of complaints on bitcoin forums and panels including Bitcointalk.org and Bitcoin Reddit, OKCoin, which processes almost 40% of all bitcoin trades, announced to its users: “OKCoin is currently suffering from malicious cyber attacks and as a result, some services may be suspended, Sorry for the inconvenience.”
  • Why the value of bitcoin is on an absolute tear

    11/04/2015 10:34:17 AM PST · by Another Post-American · 26 replies
    Marketwatch ^ | 11/4/15 | Mark Decambre
    Bitcoin is enjoying one of its best rallies in years. The digital currency, which has registered a series of records over the past several days, marked a fresh high Wednesday, when it surpassed $490 for the first time since September 2014, according to data from Coindesk, a bitcoin price index. Read: Is bitcoin a better investment than gold? Bitcoin, which was at $491.77, according to Coindesk early in New York, has soared more than 22% so far on Wednesday and has climbed 72% over the past three months, as the chart below illustrates:
  • Bitcoin Risks and Skepticism

    11/03/2015 10:08:42 AM PST · by Another Post-American · 24 replies
    Me ^ | 11/3/15 | Another Post-American
    BITCOIN RISKS AND SKEPTICISM With bitcoin skyrocketing again (up 16.44% in the last 24 hours as I write this, per Coinmarketcap.com) I wanted to outline reasons to be cautious about getting involved with Bitcoin. Bitcoin is a revolutionary advance in financial technology, but there is a learning curve involved and many serious pitfalls for unwary users. This will not be a general primer on bitcoin or how it works. I'll field any questions on those lines to the best of my ability, but first and foremost I want to give people a list of risks to consider before investing or...
  • Could Bitcoin Become Major Reserve Currency?

    11/03/2015 8:27:03 AM PST · by Another Post-American · 28 replies
    Sky News ^ | 11/3/15 | Anonymous
    The value of digital currency Bitcoin has soared 70% - and analysts think it could become one of the world's major reserve currencies within 15 years. The cryptocurrency has made big gains over the past two months, since it hit a low of $213 (ÂŁ138) in August. But as it's currently trading at $370 (ÂŁ240), it's nowhere near its early-2014 peak of $1,100 (ÂŁ715). Some have speculated that Bitcoin interest from MasterCard and Bain Capital Ventures has legitimised the currency, which is the payment method of choice on the dark web. Others say it could be down to people using...
  • The Reason For Bitcoin's Recent 60% Surge Revealed

    11/02/2015 8:45:53 PM PST · by Another Post-American · 26 replies
    Zero Hedge ^ | 11/2/15 | Tyler Durden
    It was precisely two months ago, on September 2nd, when we explained that as a result of China's recent currency devaluation, in order to mitigate the inevitable capital outflows that such an FX move would unleash, China was "scrambling to enforce capital controls" in order to prevent the exit of hot (and not so hot) money from China's economy. We then said the following to explain why "this is great news for bitcoin": Which is why we would not be surprised to see another push higher in the value of bitcoin: it was earlier this summer when the digital currency,...
  • MoneyGram: Bitcoin Will Fail to Disrupt Remittances

    11/02/2015 1:56:19 PM PST · by Another Post-American · 13 replies
    Coindesk ^ | 11/2/15 | Pete Rizzo
    About halfway through the conversation at Money20/20, discussion turns to Kodak. It’s not without merit. The photography giant once boasted more than 145,000 employees and $16bn in global revenues, but its empire all but crumbled due to rise of digital photography. To digital currency proponents, this shift has been held up as an example of what happens when incumbents fail to innovate when new technologies lead to the creation of new behaviors. In the face of tech that enables value to be sent at a low cost across national borders, industry supporters have long argued remittances are the first and...
  • The trust machine

    10/29/2015 9:16:43 PM PDT · by Another Post-American · 8 replies
    The Economist ^ | 10/31/2015 edition | Jon Berkeley
    BITCOIN has a bad reputation. The decentralised digital cryptocurrency, powered by a vast computer network, is notorious for the wild fluctuations in its value, the zeal of its supporters and its degenerate uses, such as extortion, buying drugs and hiring hitmen in the online bazaars of the “dark net”. This is unfair. The value of a bitcoin has been pretty stable, at around $250, for most of this year. Among regulators and financial institutions, scepticism has given way to enthusiasm (the European Union recently recognised it as a currency). But most unfair of all is that bitcoin’s shady image causes...
  • China (Unofficially) Authorizes Bitcoin, Price Turns Bullish [UPDATE]

    10/28/2015 9:19:31 AM PDT · by Another Post-American · 4 replies
    Coin Telegraph ^ | 10/27/15 | Joseph Young
    UPDATE: CoinTelegraph has been informed that the annoucement, on which the following article is based, was originally published in People's Daily, the official newspaper of the Chinese Communist Party with the CAC reposting it on their website. So while the article doesn't represent the opinion of the CAC, the People's Daily is a major publication in China, whose main readers are Chinese officials. *** While many media outlets and financial experts have pointed to the large influx of funds from China to Western bitcoin exchanges as the cause of the recent bitcoin price spike, China’s Internet watchdog has announced that...
  • Visa Debuts Bitcoin Proof-of-Concept for Car Leasing

    10/27/2015 4:57:24 PM PDT · by Another Post-American · 23 replies
    Coindesk ^ | 10/27/15 | Stan Higgins
    Visa and DocuSign unveiled a new proof-of-concept this week that leverages the bitcoin blockchain for recordkeeping. The project, outlined in a 26th October blog post and debuted at Money20/20 in Las Vegas, focuses on digitizing the process of leasing a car. Bitcoin transactions are used to create a digital fingerprint for each vehicle, with new transactions published throughout the leasing process. "From the driver's seat, the customer then chooses the lease options for the car – low, mid or high mileage, for example and DocuSigns the leasing contract right there and then. This is all in turn updated on the...