Bitcoin Forum

Hi

The purpose of this thread is to compile all the biggest latest news and developments in Bitcoin, with an emphasis on things that have an effect on the price, although posts on long-term infrastructure development are appreciated as well.

The idea is to be able to quickly get up to speed, without having to go through hundreds of posts (like in the Wall Observer thread).

To keep the thread short, this should be a place for posting the news, but not discussing it (go to Wall Observer or topic-specific thread for that).  I hope this format is possible, because I wonder if people are willing to make the posts if there is no reaction to it (incentive for posting gone?). Let's find out !  
An ideal post would make a TL;DR summary, and link to a news source or other thread.

Lastly, the thread is self-moderated, but I don't intend to manage it.  Just an extra option if people spam the thread, post things that have very little impact, or go full troll mode.

Now go on and inform us ! ;)

what will be the difference to the Press Thread,I am very fond of.?

Well, indeed, I used to read the press section for this purpose, but imho lately it is very incomplete.
Moreover, a lot of articles in the Press sections are just new articles, but don't really have new content for us.

What do you mean by
in contrast to the Press section?

stuff we don't already know.

though I see a rivalry between Press section and latest decelopments
I wish you good luck of course

Like this for example?

http://www.coindesk.com/belgium-central-bank-remains-positive-bitcoin-unofficially/

News that the Belgian Central bank will allow Bitcoin to continue as is without further regulation?

I live in Belgium and it takes YEARS for any change to be made to any policy* so this is great news. I predict Belgium with Brussels, the capital of Europe, will develop a strong Bitcoin network and community.

*EDIT: for example, Belgium has a very high rate of income tax, but you do not need to pay income tax on rent from private residential property. This means that in theory I could own 20 houses each rented out and not pay any tax on this income at all! This is something that people have been saying the government will change for years, but it has never happened and will not happen for years to come! Things move slower here in that respect.

interesting,thanks

Yes, stuff like this.  Thanks for that by the way, did not see this before !

Same for me; I also expect a live and let live attitude of my government :)

http://www.bizjournals.com/cincinnati/news/2014/01/09/differential-looks-to-get-in-on.html

More start up news

Ha ha!

Every time I read something Senator Tom Carper said, it sounds like he's still a little weak at the knees after the "Lovefest"!  :D

“We live in an increasingly technology-dependent world, which impacts every aspect of our lives... Our government has to recognize this reality and adapt accordingly... We can’t afford to be behind the curve here.”

http://thehill.com/blogs/regwatch/finance/194974-irs-under-pressure-to-clarify-bitcoin-rules

http://www.ibtimes.co.uk/worlds-first-insured-bitcoin-storage-service-launches-uk-1431760

I knew this was coming, but it's here a bit quicker than I thought! Insured cold storage underwritten by trusted specialist insurance company Lloyds of London.

Laying further foundations for mainstream adoption.

Not really bitcoin related, but anyway. Might make you think twice about the dollars value.

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/1/9_10_Of_The_Most_Shocking_Charts_You_Will_Ever_See_files/KWN%20VII%20Incrementum%201:9:2014.jpg
 

Will Electronics Retailer Newegg Follow Overstock’s Lead and Accept Bitcoin?

http://www.coindesk.com/will-electronic-retailer-newegg-accept-bitcoin/ (http://www.coindesk.com/will-electronic-retailer-newegg-accept-bitcoin/)

http://www.coindesk.com/new-phillipino-bitcoin-exchange-targets-remittance-market/

http://news.goldseek.com/ClifDroke/1389366300.php

Hold tight.

Very good article. Because Coinbase (in case overstock) and hedge-funds will clear the Problem of high volatility,the merchants are afraid of.

http://www.businessinsider.com/here-are-all-the-details-about-the-upcoming-new-york-bitcoin-hearings-2014-1

This is big news me thinks.

This looks pretty massive, 50,000 businesses just started accepting bitcoin!

http://www.reddit.com/r/Bitcoin/comments/1uwlew/major_porn_payment_processor_accepts_bitpay/

http://www.psmag.com/navigation/business-economics/bitcoin-crash-never-came-72462/

More positive news. But remember all this positive news probably won't have any effect on prices as many of the experts here say.  ;)

it's clear that you don't actually take the time to read what no one except you is calling an expert opinion, anyway.

news gets priced-in gradually, mostly because not everyone hears about it at precisely the same time, not everybody reacts to it at precisely the same time, and not everybody reacts to it in precisely the same way. this is as simply as i can put it.

Just saying, it looks like its getting "priced in" a bit faster now!  ;)

ah yes.... how could i be so stupid.... correlation does imply causation! T "unsubstantiated claims" Stuart, at it again!

and i thought i'd have to wait at least a few hours to use your new nickname :P

Sometimes I think we're speaking different languages Arepo but IMO that doesn't mean we have to apparently disagree on everything.  :)

haha it's just fun to poke fun at the more ridiculous claims you make, that's all. i wouldn't say we disagree on everything.

although i have to ask you, since there is quite a bit of good news in this thread, precisely which set is being priced-in right now, would you say? and how come everyone decided to buy at exactly the same time?

Back to Ockham's Razor Arepo. You know of course that according to Ockham's Razor the best theory does not necessarily have to be the most accurate. I do not have to pinpoint every single thing for my theory "Good news makes the price go up; bad news makes the price go down". And please don't start going into the different shades of good and bad and good really being bad and all that crap. Let's just say that generally if investors perceive something as good news then in my book it is good news.

Regarding why we see everyone deciding to buy at the same time, I have already explained my reasons for believing that those in fiat feel like they have less time on their hands than those in Bitcoin but I resume the main points below.

1. What could be the most significant change in market sentiment in the history of Bitcoin is fully underway and is progressing right now. Bitcoin has a serious mainstream future ahead.

2. Exchanges are playing catch up opening new accounts, processing KYC documents, transfers, etc.

3. Hodlers are taking charge of the market.

I think the news set the sentiment, and help start the panic. So positive sentiment + the price starts to grow => hope for a lower price is lost => panic buying spree. Easy.

come on guys, more News less discussions. We got other treads for that

@Arepo and @ T.Stuart.

ever heard of PM`s ?

http://nypost.com/2014/01/12/first-bitcoin-atm-to-debut-in-nyc/

Bitcoin ATM opening in NY

http://guardianlv.com/2014/01/digital-currency-bitcoin-tested/

Interesting article about regulation etc.

Was this NYC thing the cause I'd the overnight drop?

http://www.usatoday.com/story/money/personalfinance/2014/01/12/cnbc-bitcoin-business/4393905/

More business potential

No.  Traders drove the price into overbought territory.  The overnight drop corrected this situation.

News article I found:
http://www.zdnet.com/cn/chinas-bitcoin-exchanges-aim-to-work-around-rules-7000025010/

By Eileen Yu |    January 10, 2014 -- 09:28 GMT (01:28 PST)

Positive points:
This means that there are still ways to do stuff with bitcoin in China.

Singapore has a tax directive on bitcoin and thus accepting it. Chinese might go offshore to Singapore to do their trading. Maybe even pressuring China to accept it since money and business flow out the country :)

http://www.businessinsider.com/overstock-bitcoin-2014-1

Amazon will accept Bitcoin (Patrick Byrne).

He's playing you guys like a fiddle.

He sure plays a mean tune!  :D

Perhaps there is hope for you yet.

http://www.coindesk.com/chinese-government-backed-tv-program-bashes-bitcoin-outrages-community/

This is it, my friends.

This is the end.

It's not. Bitcoin doesn't do nuclear weapons testing.

i knew this day will come. I knew the "Crying" masses who lost money speculating in Bitcoin will go crying to their loving Governments.

i also like this point from one of the comments:

"Its ironic that this Chinese television station had stories about people who lost their money during the December crash, considering it was the Chinese government that caused the crash in the first place"

The new Philippines Bitcoin remittance service and exchange:

https://buybitcoin.ph/#/buy

Facebook page:

https://www.facebook.com/buybitcoinph

News:

http://www.techinasia.com/bitcoin-exchange-philippines-set-stage-wider-adoption-currency/

That's cool...  having to submit to this checkbox at each purchase is not:

"I agree that I will get the Bitcoin exchange rate in effect at the time when BuyBitcoin.ph processes my payment and delivers bitcoins to me, not at the time I submit this form."

ForexMinute lists the top three Bitcoin exchanges.

http://www.forexminute.com/trade-bitcoins

What? No Stamp? No Gox? (joking  :D)... Guess there's a whole new crowd coming!  ;)

Never heard of any of them...

Seems to me this is yet another site which is really a gambling site complete with deposit bonuses etc masquerading as a currency trading platform.  Complete with binary options etc.

Seems to be a lot of these popping up.

http://www.wired.com/wiredenterprise/2014/01/paypal_bitcoin/

Paypal decide to call Bitcoin-Godzilla "sir" when he calls for tea this year.

http://www.businessinsider.com/chicago-sun-times-bitcoin-paywall-2014-1

Chicago Sun Times testing Bitcoin micropayments

Big bank meets today to work out how to cater for Bitcoin.

"Wells Fargo has convened a group of finance executives, virtual currency experts and representatives from the US government to discuss “rules of engagement” with Bitcoin...

The bank, the largest in the US by market value, has emerged as one of the major financial institutions most interested in dealing with a potential new Bitcoin economy."

http://www.ft.com/cms/s/0/cf57a59c-7d39-11e3-a579-00144feabdc0.html#axzz2qOpFaJHJ

All these FT links are paywall blocked, possible to do a little cut & paste .... ?

These developments are escalating!

and this too is BIG - Gavin will visit the Council on Foreign Relations (https://bitcointalk.org/index.php?topic=412846.0)

The Council on Foreign Relations founded on the principles of managing propaganda put forward by Ivy Lee and Edward Bernays is a think tank for managing old world wealth and public opinion.

Bitcoin is in the crosshairs of the wealthy and powerful it is fast approaching the tipping point.

http://video.cnbc.com/gallery/?video=3000235613&__source=yahoo%7Cheadline%7Cquote%7Cvideo%7C&par=yahoo

Byron Wien makes half-hearted attempt to backtrack on his comment that Bitcoin will crash

5 predictions for Bitcoin 2014

https://medium.com/company-updates/9beb4d3df41

Couldn't put it better myself!  :)

http://bildr.no/thumb/djZWTFVm.jpeg (http://bildr.no/view/djZWTFVm)

LOL:

Wells chief executive John Stumpf said it was the bank’s practice to examine financial innovations.
“We have made enormous investments as a company and as an industry in a payments system that is secure, and we need to be sure we are up to speed with what other things are going on and their risks and rewards,” he said.

So basically we don't want to fund a future competitor to us!  lol

Is it possible you could google the article title to get around the paywall? (Hint: yes)

http://www.prweb.com/releases/2014/1/prweb11468131.htm

Rivalhost Bitcoin offer for hosting package

"But we are going to have to do it quickly because it looks like we were caught with our pants down..."

http://www.zerohedge.com/news/2014-01-14/marc-faber-warns-bubble-could-burst-any-day-prefers-physical-gold-bitcoin (http://www.zerohedge.com/news/2014-01-14/marc-faber-warns-bubble-could-burst-any-day-prefers-physical-gold-bitcoin)

The "bubble" is not bitcoin but financial assets.

http://www.abc.net.au/news/2014-01-15/virtual-money-brings-real-rewards-and-reservations/5202040

..."last year it was briefly worth more than gold..."

Still is. Much more!  :D

http://www.forbes.com/sites/benkepes/2014/01/15/bitcoin-breaks-out-you-can-now-pay-the-irs-in-cryptocurrency/

Bitcoin Breaks Out, You Can Now Pay the IRS in Cryptocurrency

Slightly misleading title perhaps but what the hell!  ;)

http://www.coindesk.com/uk-tax-authority-hmrc-reclassify-bitcoin-private-currency/

Very interesting indeed for Brits.

And I agree with the assessment of TMF Global. Classifying Bitcoin as private money would fit Conservative government policy nicely... And make the City of London a competitive Bitcoin hub!  :)

http://qz.com/167817/someones-refrigerator-just-took-part-in-a-malicious-cyberattack/

Fridges being groomed into botnets.

Only a matter of days before these fridge botnets begin mining bitcoins.

It's a bonus for the botnet controllers because then they could put the coins directly into cold storage. He he ... Ha ha... Ho ho ho!!!  :D

http://www.stockhouse.com/opinion/independent-reports/2014/01/16/how-washington-is-ruining-recovery

"This is necessary from the vantage point of the hedge funds who need a dull, uneventful market in order to quietly build a substantial position. Don't be surprised, then, if Bitcoin posts an underwhelming performance for a while."

I give you exactly 1 week hedge funds!  :D

The Sacramento Kings basketball team will become the first major professional sports franchise to accept bitcoin in return for its products, marking a symbolically important step in the virtual currency's bid to achieve mainstream acceptance.

"The way I saw it, bitcoin had reached a tipping point where it had crossed from being a curiosity to a becoming a legitimate form of doing commerce," said Sacramento Kings owner Vivek Ranadivé, explaining his decision to allow payments in the virtual currency. Mr....

http://online.wsj.com/news/articles/SB10001424052702304603704579323352532979922?mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052702304603704579323352532979922.html

http://www.ibtimes.co.uk/hmrc-re-classify-bitcoin-private-money-1432718

HMRC in Great Britain IS re-classifying Bitcoin as private money, setting up the City of London as a future leading hub of the Bitcoin world!!

Excellent news. Though don't expect banks to play nicely with Bitcoin businesses.

The green shoots of spring are everywhere to be found, yet the almighty Karhu dances all over the top of them just the same.





$785, a significant bid wall on Bitstamp has been struck, I aint trying to trade it though cos things are far too tight to compete with the bots whose programs are telling them the market is going down....Grind down to $765 is next, and when that falls, then it will be the low $700s, hopefully with a bit of volatility so I can trade fruitfully amongst the bots.

That's a good idea! Wheel Karhu out again! He'll turn this thing around for us! LOL  :D

Lawyer for Winkelvoss Twins’ Bitcoin ETF Says SEC Review Going Smoothly
http://blogs.wsj.com/moneybeat/2014/01/17/lawyer-for-winkelvoss-twins-bitcoin-etf-says-sec-review-going-smoothly/ (http://blogs.wsj.com/moneybeat/2014/01/17/lawyer-for-winkelvoss-twins-bitcoin-etf-says-sec-review-going-smoothly/)

http://www.forbes.com/sites/kellyphillipserb/2014/01/17/uk-bows-to-pressure-likely-to-reverse-course-on-taxation-of-bitcoin-will-the-us-be-next/

“… Indications are the HMRC would also make Bitcoin subject to the capital gains tax (CGT) but allow an exemption for those who hold onto them for more than a year (the equivalent of an extremely, extremely favorable long term capital gains rate). Other taxes would likely not apply.”

Love it, just love it!!!

The UK is going to reward HODLERS handsomely!!!  Ha ha ha!   :D

http://www.theepochtimes.com/n3/458540-bitcoin-is-poised-to-shake-the-world-are-you-paying-attention/

Bitcoin is Poised to Shake the World: Are You Paying Attention?

He he!  :D

http://www.pfhub.com/porn-could-be-set-to-catapult-bitcoin-into-mainstream-adoption-306/

Some more catapulting into the mainstream about to happen.

Porn could be the bitcoin killer- app
https://i.imgur.com/d29iCvb.jpg

sports as well

Financial Times starting to gain interest?

http://blogs.ft.com/gavyndavies/2014/01/19/bitcoin-miracle-or-madness/ (http://blogs.ft.com/gavyndavies/2014/01/19/bitcoin-miracle-or-madness/)

Financial Times - FT Alphaville have been writing about Bitcoin for over two years. http://ftalphaville.ft.com/tag/bitcoin/

Isabella Kaminska, whose work I am otherwise a great fan of, does not seem to like Bitcoin much - pointing to its extreme Gini coefficient and other problems as indicative of its undesirability. She does write about it fairly regularly though.

The most interesting thing they've covered most recently is some thoughts on how Bitcoin and other crypto currencies are a possible solution to the Zero Lower Bound - and so in fact are assisting QE. It's a bit counterintuitive, but something Bitcoiners don't think about enough is that if Bitcoin and other cryptocurrencies become generally accepted as mediums of exchange, then they are actually inflationary, as they are private currencies being issued in addition to the fiat coming from the Central Bank.

I;d be happy to discuss this elsewhere -perhaps I will make a thread in Economics subforum.

please do, this is a subject i have always been interested in but consistently gets shouted down

After all the badly-researched articles regarding Bitcoin, full of half-truths and outright rubbish, a refreshing change!

http://www.forbes.com/sites/kitconews/2014/01/20/bitcoin-network-is-here-to-stay-montreal-economic-institute/

DLD14 - Bitcoin: Bubble or Boom? (Jeremy Allaire, Barry Silbert, Olaf Acker)

http://www.youtube.com/watch?v=WMilJzD3pL0&feature=youtu.be (http://www.youtube.com/watch?v=WMilJzD3pL0&feature=youtu.be)

(I have started to wonder if "loaded" can be Jeremy Allaire, any thoughts)

Very interesting news from Switzerland. Swiss bankers now advising rich clients to invest in virtual currency.

http://www.financialexpress.com/news/wef-2014-swiss-banks-devise-new-cash-strategies-including-bitcoins-for-rich-clients-from-india-others/1219554

A proper article about bitcoin on CNN

http://finance.fortune.cnn.com/2014/01/21/bitcoin-platform/ (http://finance.fortune.cnn.com/2014/01/21/bitcoin-platform/)

Well she's dead wrong on the Gini.  Consider the 85 who own more than 50% globally.  With bitcoin there is a new 85.  That doubles the dispersion of the high end, which dramatically improves the Gini.

The same long, detailed, intelligent and extremely positive article, by Marc Andreessen (Andreessen Horowitz), published by two of the biggest titles:

Time: http://techland.time.com/2014/01/21/bitcoin-marc-andreessen/

The New York Times: http://dealbook.nytimes.com/2014/01/21/why-bitcoin-matters/?_php=true&_type=blogs&_r=0

I was waiting for an article that would really delve into what matters about Bitcoin and the potential out there. This is what I was looking for. To find it has just been published on the two of the top media platforms in existence today is quite amazing.

Those who read my posts probably think I'm one of the most bullish in here, but this is suddenly making me feel too bearish!

EDIT: sorry, only an excerpt at Time. But with the intro and link it's enough.

wow, nice article. i will re-post it.

it used to be that i found articles about bitcoin that were depressing, and then i checked this forum and felt better. now it is sometimes other way around.

You might want to recheck your source on that one.  There's been a recent misprint that's since been corrected.  In fact, 85 people own the same amount as the bottom 50% of people.  Not quite the same.

OH YES, everything is good move along the 3,500,000,000 people whose combined wealth is just a reflection of there net contribution to society just happens to equal that of the 85 people as apposed to that of the other 3,500,000,000 people who combined have more. Honestly it's almost irrelevant the point is wealth is supposed to come to those who work for it not accumulate at the top by those who have control of a system that moves wealth to the top.

lol, i always thought miners would be found on the radiator side of the game. bitcoin really changes everything...  :D

I agree completely with this statement. I don't think there's any way to say it clearer or more concisely. Thank you

Isn't that what I just said? 

Wealth will not come to those who work for it unless there is a market for their labor.

bitcoin and cryptocurrencies in general are no more inflationary than the existence of any other tradable commodity. If the farmers have a bumper crop of wheat, is that inflationary?

Izabella is wrong for the simple fact that Bitcoin is a deflationary currency and it replaces debt based fiat.  i.e. Rich people sell dollars and buy bitcoins, which they hold as an asset class.  There is no credit growth as a result, ergo there is no inflationary effect.

https://plus.google.com/+Bitpay1/posts/GVFubWzVmsm

Seattle Seahawks going to the superbowl and taking Bitcoin with them

Easy bitcoin calculations in wolframalpha

http://blog.wolframalpha.com/2014/01/20/bitcoin-values-in-wolframalpha/ (http://blog.wolframalpha.com/2014/01/20/bitcoin-values-in-wolframalpha/)

Bitcoin Targets Giants Visa to JPMorgan With Lower-Cost Payments
http://www.bloomberg.com/news/2014-01-22/bitcoin-targets-giants-visa-to-jpmorgan-with-lower-cost-payments.html (http://www.bloomberg.com/news/2014-01-22/bitcoin-targets-giants-visa-to-jpmorgan-with-lower-cost-payments.html)

Not sure if legit. Was posted by Circle's twitter account:

http://national.wellsfargobank.com/VirtualCurrency

Something everyone not familiar with bitcoin should read IMO

http://www.forbes.com/sites/andygreenberg/2014/01/22/google-lets-slip-that-its-exploring-possible-bitcoin-integration-plans/

You know when Google gets a hold of something......  :D

That is actually a great article!  Thanks for posting.

Seems legit, Wells Fargo are taking bitcoin very seriously.

http://www.tigerdirect.com/

Tiger Direct now taking bitcoin according to homepage.

http://www.coindesk.com/naughty-america-bitcoin-acceptance/ (http://www.coindesk.com/naughty-america-bitcoin-acceptance/)

Bitcoin will go ‘industry-wide’

The announcement provides further evidence that Porn.com’s decision to embrace alternative currency has marked a turning point in the adult entertainment industry. Hronopoulos is particularly bullish about bitcoin’s potential to impact the adult entertainment market, as well as how quickly the industry will adopt bitcoin payments en masse.

“I think it will become an industry-wide thing within 45 to 60 days … Naughty America really sets the bar for where the industry heads.”

Edit; according to this Internet porn industry has almost 100 billion dollar revenue/year : http://internet-filter-review.toptenreviews.com/internet-pornography-statistics-pg2.html (http://internet-filter-review.toptenreviews.com/internet-pornography-statistics-pg2.html)

- thats larger than amazon com The pornography industry is larger than the revenues of the top technologycompanies combined: Microsoft, Google, Amazon, eBay, Yahoo!, Apple, Netflix and EarthLink.

fuck yeah !   ;D

http://dealbook.nytimes.com/2014/01/24/bitcoin-is-not-yet-ready-for-the-real-world/

Quite the read.

http://mobile.bloomberg.com/news/2014-01-24/bitcoin-gains-support-from-sberbank-s-gref-as-russia-plans-curbs.html

I swear. It's just the same old bullshit over and over. Some ex-finance dude who now is a professor somewhere comes out with the same half baked arguements again. These guys aren't doing real homework.

nice find. this is the biggest piece of shit about btc i ever encountered.


 ::)


 ::)


 ::) ::)

boy, from criminal to terrorist in a few sentences & bitcoin a virus.


 ::)

and this guy is a



if those guys are teaching bankers and examining for the FED i start to understand why the banking system is in its current state.

edit: typo

edit: is that you, proudhon ?

I am so curious to know how people like this are going to respond to bitcoin after the next parabolic rise.

At $266 bitcoin can be still be dismissed as a joke, a silly sideshow.

At $1000+ bitcoin can be dismissed as misguided exurberance, a bubble of rare and significant tragic proportions.

But at $5000+ bitcoin cannot be ignored. It can't be dismissed. It can't be just called a bubble.

What is really going to happen after the next parabolic rise?

I am so very very curious about this.

I'll tell you exactly what will be said, "A bigger bubble."

that's when it doesn't stop going up. 10k, 15k, 20k, without breaks all the way to 1 million if the model is correct!

It will never end.


"Cryptomania continues in internet-land this morning, as bitcoin reached highs of around $452,000, 200% over it's previous peak. We talked to some enthusiasts excited to get their hands on the Justin Bieber sex tape, which is being traded online for bitcoin. One young man claimed he had filled an entire swimming pool with chocolate pudding, which he paid for with the virtual currency. Economists have issued a warning that bitcoin has no intrinsic value, and this latest round of mania brings the internet currency to the brink of a catastrophic bubble collapse. Holders are urged to get out with their money, as our analysis shows the currency *could* fall as low as $25,000 per coin in the coming days. Fans of the bitcoin seem unperturbed by these predictions, claiming. 'I'll be happy as long as it buys socks from the web.'"

 :D

http://www.news24.com/MyNews24/The-Rand-is-Dying-Can-Bitcoin-Save-Us-20140124

"South Africa, as one of the ‘BRICS’, was often touted as an emerging market to watch. These days it finds itself in less auspicious company; the so-called ‘Fragile Five’ (India, Indonesia, Brazil and Turkey).
The economic fundamentals are poor and citizens are left with few options. Most feel powerless. With few options available many are forced to watch their real wealth, denominated in Rand, evaporate.
But a group of tech savvy entrepreneurs and investors have had enough. They are bringing Bitcoin and digital currency to South Africans."

The link above is for a live stream of the NY Bitcoin Hearing starting Tuesday.

http://gulfnews.com/business/banking/the-a-b-c-of-virtual-currency-bitcoin-1.1282316

http://www.survivalmonkey.com/threads/washington-state-financial-regulation-department-writes-that-digital-currency-and-bitcoin-is.40793/

Interesting post about Bitcoin being classed as "money" under Washington State's law code. Don't know how recent the clarification is but the post was made today. Anyone have further info?

http://nypost.com/2014/01/26/bitcoin-could-be-crime-fighter-against-credit-hacks/

Very good point being made about Bitcoin's potential to overcome the type of fraud associated with credit cards.

http://www.entornointeligente.com/articulo/1937896/BOLIVIA-Bitcoin-la-moneda-virtual-que-quiere-revolucionar-la-economia-26012014

South America, here we come!  :D

Google translation: Time / A VIRTUAL CURRENCY WITH FLOATING PRICE HAS BEEN DEVELOPED TO REPLACE TRADITIONAL MONEY. 's Bitcoin is a currency such as the euro or the dollar, but do not depend on any financial institution and used primarily by Internet. It was created in 2008 and still is stabilizing, but has already entered the financial market as part of the sophisticated world of virtual currencies. A recent report by the chief economist of the Swiss bank UBS, Paul Donovan, one of the most important in their area, an analysis of the value of these blocks, from an economic and financial standpoint, especially Bitcoin, the most popular. This currency, used primarily on the Internet, is an electronic currency (or criptodivisa) decentralized conceived in 2008 by a person (or persons) who under the pseudonym "Satoshi Nakamoto" published a white paper, it proposes a set of electronic transactions that depends on trust but allows transfers directly without the need for an intermediary . The term also applies to the protocol designed by the same author and the P2P network that supports it. Unlike most currencies, bitcoin is not backed by any government or depends on trust in any central issuer, but uses a test system working to prevent double spending and reach consensus among all nodes within the network. It is a relatively new project that is evolving. For this reason, its developers recommend caution and treat it as experimental software, this is what is explained in brief in the popular Wikipedia, but speaking simply, is it in a few years an option to replace the traditional? WHO THE CONTROLS? One of the key issues when analyzing a market is its price. After a 8,750% growth in eleven months, at this time it has fallen 30% since the peak at $ 1,200, but in recent days the price again exceeded $ 1,000. In this context, Bitcoin is not the only virtual currency that has developed in recent years. For example, many computer games have created their own currencies, either by creating ex novo or through a system changes with real currency. As in any market, the price obtained by the competition between supply and demand. In the case of a virtual currency, the offer depends on the maintenance over time of the issuing of her cyber platforms. If at any time, one or more issuers disappear, the value of issued coins would go to zero. This could also happen in the real world (the failure of a State or Central Bank). However, the probability of failure of a State or Central Bank is substantially less than an internet platform, according to economist Donovan.  Not being issued or backed by a State or a Central Bank, do not have the usual protection schemes as liability insurance, fraud or theft. In this field, the risk of fraud or theft is similar to both a virtual currency as a legal tender. In the event Bitcoin is its own protocol which regulates the issuance of coins. IS MONEY? Paul Donovan believes that any property that is used as a "means of payment" can be defined as money somehow. However, this end is not supported by economic theory. For a whether money should be properly considered an asset and an institution with a number of key properties: unit of account, means of payment and store of value. The function of a means of payment is fully satisfactory. However, the functions of unit of account and store of value is very difficult to define in this field. Their importance is measured by the value of a means of payment that is taken from the disposal of a third party to accept it as a valid contribution transaction. In the case of legal tender, the counterpart always accept the payment method as there is a legal obligation for acceptance. In the case of a virtual currency, there is a risk of very significant contribution which hinders its extent and reliability. Importance of a virtual currency can also be interpreted in terms of reaction. The company, knowing manipulation of fiat money, opt for developing other instruments in which to escape this situation. VIRTUAL COINS AND GOLD "To some extent, gold was the first virtual currency at least after 1971 when the union weak between legal tender and gold was broken. " The interpretation of Donovan justified ensuring that virtual currencies play a certainly similar role with respect to gold, as they are not recognized as coins but there are certain markets that are traded as if they were. Though this certainly attractive conclusion should not lose sight of the two essential features separated by an abyss of virtual gold coins: gold has been accepted as money almost from the beginning of time and is a real asset with properties beyond the medium payment. The Bitcoin yet. EXPERIENCE Lucas Viano, lavoz.com.ar journalist explains the experience of their fellow citizens in Argentina. "Inflation, dollar stocks and magnetism by technological innovations are the breeding ground for Argentine surrender at the feet of Bitcoin, the digital currency that is feeling in the world. Late November 2013 climbed to $ 1137. previously achieved a year for $ 13. fluctuates now around $ 900. According to the Bitcoin Argentina Foundation, there are about five thousand Argentine operating with this virtual currency. Cordoba Some are. "In 2012 a magazine for electronics engineers published a note on bitcoin. So I was hooked. I use it to make donations to FOSS projects. I also realized transactions. At one point was the only one in Cordoba, "says Tomas Sironi, telecommunications student. mercadobitcoin.com The site can be viewed online stores Argentine bitcoin Most are from Buenos Aires to Córdoba A few are:.. Hotels Garden Azur and Real, natural products business mercaditonatural.com.ar and web design company WebStudios. Scarfia Nicholas, owner of the latter company, says that in Argentina the stocks to the dollar and inflation are motorizing the bitcoin. Is creator of the website conbitcoin.com, a portal for classified ads to buy and sell products with this currency. "The site has a little over a year. Now there are over a thousand ads. Half are from Argentina and of those, one quarter are of Córdoba "details." In my case I used it to buy the hosting of a website, "says Javier (not his real name), who also operates with bitcoin. Like Thomas, are a sort of "trees", buy and sell bitcoin.'s main clients are foreign investors and using digital currency to move currency from one country to another without paying taxes or accounting. Xavier prefers to hide his identity because bitcoin is in a legal gray area in the country. No law nor the government has given its opinion on the subject. therefore may be associated with illicit businesses or black money. Martín, architect and entrepreneur receives bitcoin for sale a lot in order to "diversify assets." has had very low bids. "It's an alternative to the dollar and a challenge we are experiencing, encouraged by the good performance of the bitcoin" he says. Requests 40 bitcoin for a lot of 485 square meters in Santa Rosa. "Ideal for credit Procrear" says the classified ad. Meanwhile, Augustine owns the www.mercaditonatural.com.ar food store which also receives the digital currency. "Receiving bitcoin am supporting a movement that challenges the systems and prevailing customs and searches you redefine other contemplating the value of collaboration instead of competition, "he says. customers Augustine can buy olives, seeds, honey, tea, rice and to shampoo and pay with bitcoin. "La bitcoin maintains many of the mistakes of the old economy. However, it is a good first step to make way for this kind of discussion about how we want to build our economy peer, "says Augustine. risk of bitcoin is sustained through what gives security: there is no organization that controlled. No has a physical presence, so you can not steal if there is a risk that the network is hacked. Nevertheless, Thomas says that much computing power is needed to achieve that. "Today you can make a transaction anywhere in the world and nobody can stop it. The operation is person to person. It is a great economic experiment "he says. Meanwhile, Javier adds: "His future will depend on the support of people who require it. Another major barrier that must pass is to support institutional investors and states. " EXTREME CASES DOS Several destinations. term "fault" of the bitcoin, a man bought an apartment for $ 22, but another had paid nine million two pizzas. In 2009, the Norwegian Kristoffer Koch bought five bitcoins for $ 22. Time passed and forgot I had that investment. then learned that the value of digital currency had increased significantly. had $ 850,000 but had Forgot the password for your virtual wallet. When reminded, invested all their bitcoins in an apartment in the center of Oslo. A Laszlo Hanyecz he went the opposite. in 2010 paid 10 mil he bitcoin for two pizzas. At that time this amount of digital currency equivalent to $ 30. But at the current price of bitcoin, Hanyecz would have paid for the pizzas about nine billion. (With data Oroyfinanzas.com, Wikipedia, quesbitcoin.com, lavoz.com.ar BBC) Bitcoin, IN SIMPLE The Bitcoin is a currency such as the euro or the U.S. dollar, used to exchange goods and services. Yet unlike other currencies, Bitcoin is an electronic currency which has new features and is known for its efficiency, . safety and ease of exchange These are some of these characteristics: • It does not belong to any state or country and can be used worldwide alike. • is decentralized. not controlled by any state bank, financial institution or company • It is impossible to counterfeit or duplication by a sophisticated cryptographic system. • No intermediaries: transactions are made ​​directly from person to person. • Transactions are irreversible. • bitcoins can change to euros or other currencies and vice versa, as any currency. ORIGINS Satoshi Nakamoto is the pseudonym of the person or group of people who designed the Bitcoin protocol in 2008, and created the network in 2009. cryptographers At a conference of the names of Michael Clear and Vili Lehdonvirt signed up, but both refused to be . Nakamoto In April 2011, Nakamoto announced their separation project to pursue other work (Wikipedia). • No need to reveal your identity to do business and preserves your privacy. • The money belongs to 100%, can not be involved by anyone or accounts may be frozen.

Interesting read! However, one inaccuracy: The Norwegian Kristoffer Koch bought 5,000 not 5 (five) BTC, which gave him the opportunity to buy his apartment in Oslo from 10% of his BTC. It's not a mistake of Google translate, it's the same in the Spanish original.

Bitcoin Takes Center Stage at iFX EXPO in Macau

http://forexmagnates.com/bitcoin-takes-center-stage-at-ifx-expo-in-macau-despite-chinese-hostility/

Making more waves in the financial sector

Very interesting. And it backs up what any rational person can guess already: that China understands the significance of Bitcoin and will not simply ban it.

That's already been confirmed to be not true.  That new source above is unconfirmed and not bad, therefore not good.

http://beforeitsnews.com/economy/2014/01/wells-fargo-bank-will-hold-a-conference-on-bitcoin-2589630.html

Forgot about this: Wells Fargo distancing themselves from JP Morgan and holding a Bitcoin meeting at the same time as the NY hearing (28 Jan)

The Complete Breakdown of How Charlie Shrem Did Nothing Wrong

http://www.cryptocoinsnews.com/2014/01/28/charlie-shrem-did-nothing-wrong/ (http://www.cryptocoinsnews.com/2014/01/28/charlie-shrem-did-nothing-wrong/)

great to get some details.

so if i trade apples for dollars with someone that allegedly trades those apples to unknown others which allegedly use those apples to trade for drugs, i go to jail for 20 or 30 years ?

Sounds like the Excited States of America is having a war on apples...  And why not. Declare war on pretty much everything else :D

Pay Me in Bitcoin, IT Professionals Say

Out of 847 responses to a questionnaire sent to Tech in Motion's 18,000 members, 51.12% answered "yes, absolutely," to the question "Would you be interested in being paid for your work in cryptocurrencies like Bitcoin?" A further 18.06% ticked "Maybe, let's see where Bitcoin is in a year or two," with the remainder saying that they would prefer to be paid in traditional currency. Just 9.92% rejected the option because they "do not think Bitcoin will last," and 1.18% said they didn't know what bitcoin was.

http://online.wsj.com/article/BT-CO-20140127-713008.html (http://online.wsj.com/article/BT-CO-20140127-713008.html)

Legal Online Gambling is Next Major Bitcoin Market

http://www.coindesk.com/legal-online-gambling-next-major-bitcoin-market/

wow, that deserves a thread of its own in the speculation subforum! this is big ! if this enables us-citizens to get back to online poker tons of btc will be swallowed to get it done.

if bitcoin develops into the payment option of choice of the online gaming industry....  & the sports betting industry...  we are talking about billions of dollars here.  

edit: deleted

I'm not much of a thread starter, so please go ahead. In the meantime this might also be interesting (if true):

Patrick Byrne retracts statement that Overstock.com will not hold bitcoins, also announces personal investment

http://www.reddit.com/r/Bitcoin/comments/1wl7xp/patrick_byrne_retracts_statement_that/

Jesus....that's a pretty big deal.

...in today's Q4 Earnings Conference Call.
http://edge.media-server.com/m/p/xeadrvij/lan/en
@24.10 - 24.38:

"It's not out of the question that we will be holding a small amount of bitcoin."
"I personally have gone out in the past few days and bought several million dollars of bitcoin."
(Discussion of benefits to the company at 22.00, preceded by the story of adoption also told in the LTB interview.)

This will be a drag for some. Let's hope they sort it soon.

https://campbx.com/achupdate.php

Read All About It: Sun-Times Experiments With Bitcoin Paywall on Saturday

http://blogs.wsj.com/moneybeat/2014/01/31/read-all-about-it-sun-times-experiments-with-bitcoin-paywall-on-saturday/ (http://blogs.wsj.com/moneybeat/2014/01/31/read-all-about-it-sun-times-experiments-with-bitcoin-paywall-on-saturday/)

Bitcoin Now Accepted at Every 7-Eleven in Mexico

http://www.cryptocoinsnews.com/2014/02/01/bitcoin-accepted-7-eleven-mexico/ (http://www.cryptocoinsnews.com/2014/02/01/bitcoin-accepted-7-eleven-mexico/)

This could be a backdoor way into the multi-billion dollar remittance market.

http://www.bloomberg.com/video/can-bitcoin-save-the-post-office-iQx5kWnzQI~iWL2ZmNNm0A.html
 (http://www.bloomberg.com/video/can-bitcoin-save-the-post-office-iQx5kWnzQI~iWL2ZmNNm0A.html)

Could be huge......

bitcoin exchange in every post office - that would be awesome!   if they go with it it'll take few years tho, WU and PP certainly will follow

BTC-e under serious investigation by Bank of Russia

http://volgoproc.ru/newversion/cgi-bin/run.pl?mod=news.mod&dirmod=mod&func=view&id=2331

No Translation , sorry

USPS accepting Bitcoin as a financial service will be massive. But maybe 2015 not this year

I see Im not the only whos at work. lol, living the american dream

http://www.coindesk.com/government-report-not-lagging-bitcoin/

:



no "we will ban it" rap here. in fact it sounds more like an approval.

http://video.foxbusiness.com/v/3147952575001/regulations-coming-to-bitcoin/#sp=show-clips

Ben Lawsky is starting to get it - I'd say this is good news....

wow, good old ben sounds like a btc enthusiast. when did he buy ? 2011 ?

Wage slave? More like a nightmare.

 ;)

http://playwithcoin.com/a-land-based-casino-in-cyprus-is-now-accepting-bitcoin/ (http://playwithcoin.com/a-land-based-casino-in-cyprus-is-now-accepting-bitcoin/)

a casino could also function as an exchange.

Yes. Now its just a matter of whether they get those regulations out in 2 months or 10. I'm rooting for 2.

Wall Street Journal Debuts Dedicated Bitcoin Coverage

http://bitcoinmagazine.com/9927/wall-street-journal-debuts-dedicated-bitcoin-coverage/

You Can Now Pay Cash For Bitcoin at 28,000 UK Stores

http://www.coindesk.com/can-now-pay-cash-bitcoin-28000-uk-stores/

Montreal just got an ATM machine.

http://www.marketwatch.com/story/high-speed-link-provider-perseus-to-accept-bitcoin-2014-02-06?link=MW_latest_news

"Bitcoin has taken another step toward inserting itself into the global financial system as Perseus Telecom, a provider of heavy-bandwidth telecommunications connections for securities exchanges and their customers, said it will accept payments in the digital currency."

I miss this TL/DR thread of bitcoin.

For those who have been too busy watching the Olympics to keep up with bitcoin since February 6th:


Over the weekend Mt Gox halted BTC withdrawals, effectively cutting themselves off completely, which made their price fall below those of the other exchanges and also be irrelevant.

https://www.mtgox.com/press_release_20140207.html (https://www.mtgox.com/press_release_20140207.html)

On Monday they blamed their withdrawal problems on the malleability of bitcoin transaction ids and said they wouldn't give back their clients coins until the "bug" was fixed.

 https://www.mtgox.com/press_release_20140210.html  (https://www.mtgox.com/press_release_20140210.html)

It turns out that somebody is broadcasting duplicate transactions with different ids to the bitcoin network, either to be malicious or simply to correct transactions that do not conform to the most recent protocol rules.  Mt Gox appear to be the only people whose wallet software can't handle this.

 http://beforeitsnews.com/eu/2014/02/the-embarrassing-fact-mtgox-left-out-of-their-press-release-their-bad-code-hygiene-was-the-direct-cause-of-problems-2550398.html  (http://beforeitsnews.com/eu/2014/02/the-embarrassing-fact-mtgox-left-out-of-their-press-release-their-bad-code-hygiene-was-the-direct-cause-of-problems-2550398.html)

Meanwhile people are panicking, exchanges are halting withdrawals, random market orders are causing flash-crashes to $100/BTC.

You know... Tuesday.

western union sinking like the titanic

http://finance.yahoo.com/news/western-union-profit-falls-27-211111068.html

The irony is these compliance costs (partially responsible for the losses) were lobbied for to keep competition out. Just the cost of maintaining a monopoly.

http://www.coindesk.com/africas-largest-bank-trials-bitcoin-integration-system/

here come the banks.

pretty cool coming from a Citigroup strategist....

http://blog.irvingwb.com/blog/2014/02/reflections-on-bitcoin.html

Anyone know about the standard bank news?? Will I be able to send BTC to that bank from sweden and store them safe??

Changed my opinion.
http://www.coindesk.com/africas-largest-bank-trials-bitcoin-integration-system/

If anything comes of it it will need SA Reserve Bank approval. SA has a exchange controls more stringent than China.

http://www.coindesk.com/california-bill-bitcoin-lawful-money/



ccmf