In the corner of a small pizzeria in central Bishkek, Kyrgyzstan's capital, an experiment is unfolding. Central Asia’s first and only bitcoin ATM converts dollars into the world’s most popular cryptocurrency. The machine – which looks like one of the city’s ubiquitous electronic pay terminals – offers a way to convert hard currency into a digital medium that is increasingly used in online transactions.

That could impact how Kyrgyzstan’s estimated one million migrant workers transfer their earnings home, says the machine’s owner, Emanuele Costa, an Italian financial analyst. The World Bank estimates that last year migrant remittances totalled the equivalent of 31% of Kyrgyzstan’s gross domestic product (GDP). Most of that money, several billion dollars, was transferred through expensive, fee-based services such as Western Union and Zolotaya Korona (a Russian payment system whose name means 'golden crown'). Costa, a former analyst with Goldman Sachs, sees bitcoin as a low-cost, secure and confidential alternative.

Bitcoin, invented by a group of anonymous Internet users in 2009, is the first and most prominent digital cryptocurrency to gain wide circulation. Not controlled by national governments or banks, bitcoin offers a peer-to-peer encrypted payment system that can be readily converted into cash or, increasingly, used in exchange for products or services. Fees, when they exist, are agreed upon by users and are usually nominal. Bitcoin’s value fluctuates based on supply and demand; one bitcoin is currently worth about $642.

Though Costa is a staunch believer in bitcoin’s potential, he admits that it faces some hurdles. Foremost is a lack of understanding.

Building on his previous work developing financial-literacy projects for the University of Central Asia, Costa has begun organising bitcoin meet-ups as an informal, though structured, means of educating interested people about the potential of bitcoin and other peer-to-peer financial platforms to improve and simplify their economic lives.

Costa views Kyrgyzstan’s relative weakness in regulatory systems as, paradoxically, a strength. "Due to the lack of legacy [financial] systems and the government’s openness to trying new things, Kyrgyzstan is a very attractive place to implement a bitcoin facilitated transactional system," Costa told EurasiaNet.org.

But the Moscow-led customs union – which Kyrgyzstan is expected to join by next year – could spell trouble. Already, members Belarus and Kazakhstan have taken cautiously negative views of bitcoin and other cryptocurrencies. Russia’s prosecutor general has warned that "systems for anonymous payments and cyber currencies… are money substitutes and cannot be used by individuals or legal entities." None of the current customs union members have issued outright bitcoin bans, but anything perceived to challenge centralised state control is unlikely to survive for long.

What’s more, in a part of the world as opaque and corruption-riddled as entral Asia, transparency activists might find bitcoin worrisome because there is no way to trace bitcoin users’ transactions.

But Costa believes that the technology behind bitcoin cannot be legislated away. Bitcoin only represents the first wave of game-changing technological innovations to come, he says. And his investment is proof of his enthusiasm. Although he does not expect to recoup his investment in the machine for several years – he earns a nominal fee off each transaction – what matters to him is that in the machine’s first two weeks of operation, even without advertising, several users have tried it out. That’s proof, Costa says, that bitcoin can find a comfortable home in Bishkek

Source " http://www.theguardian.com/world/2014/jul/08/kyrgyzstan-bitcoin-experiment-migrant-savings "

I am now member so change my position now

no i want "latium" related website that give you coins by just signups

Yeah Taliban get funded for buying their weapons and explosive etc.

Hi,
I want to know any other website similar to latium.cc which pays you coins by reffering other people on your link.I love to refer people under my link.Is there any other website similar to "latium.cc" then please let me know.I want a website which gives you free altcoin as latium did.also the website should have tier of reffering system.

I think bitcoin is now in danger after Talibans using it

In another sign that the Winklevoss Bitcoin ETF is making slow but steady headway, the latest amendment to the fund's S-1 filing with the U.S. Securities and Exchange Commission (SEC) will use COIN as its ticker symbol.

Since a previous filing revealed that the fund would trade on the Nasdaq exchange, that would make the Winklevoss Bitcoin ETF ticker "Nasdaq: COIN."

winklevoss bitcoin etf
Formally known as the Winklevoss Bitcoin Trust, it's the brainchild of the Winklevoss twins, Cameron and Tyler. The pair gained notoriety by successfully suing Facebook Inc. (Nasdaq: FB) founder Mark Zuckerberg for $140 million for taking their idea for a social network.
The fresh amendment naming Nasdaq: COIN as the ticker symbol was filed July 1, exactly one year after the initial filing of the S-1 form. Despite the long process, the Winklevoss Bitcoin ETF appears to be on track for SEC approval, probably before the end of the year.

"Under the securities laws we are not permitted to discuss timing to launch or effectiveness," Cameron Winklevoss told The Wall Street Journal. "However, identifying the ticker symbol and the exchange are two major events that further demonstrate that we are moving forward as expected."

Think about this: Western civilization could easily come to an abrupt halt from a terrorist cyberattack. But that's also a huge opportunity for the companies that are working to protect us from such a fate - as well as those who invest in those companies now...

The amended S-1 was also updated with recent changes in the global regulatory environment. For instance, it now points out that Switzerland is moving closer to clarifying its stance on Bitcoin, while the Bolivian central bank recently banned the digital currency.

That the Winklevoss Bitcoin ETF was able to snag Nasdaq: COIN came as something of a surprise, as few believed that ticker to be available. In fact, COIN was in use as recently as June of 2013, but the company using it merged with another and changed its ticker.

The Winklevoss Bitcoin ETF is intended to make investing in Bitcoin as easy as buying shares of stock, as the popular SPDR Gold Trust ETF (NYSE Arca: GLD) does for gold.

To duplicate the structure of GLD, the Winklevoss Bitcoin ETF will buy one bitcoin for every five shares of the fund. With the current Bitcoin price at about $615, one share of the Winklevoss Bitcoin Trust would today trade for $123.

The Winklevoss Bitcoin Trust also has some competition brewing from SecondMarket's Bitcoin Investment Trust, a hedge fund currently open only to accredited investors. But SecondMarket is seeking regulatory approval to open the Bitcoin Investment Trust to all investors, which should happen around the same time the Winklevoss Bitcoin ETF gets SEC approval.

Source"http://moneymorning.com/2014/07/07/winklevoss-bitcoin-etf-ticker-to-be-nasdaq-coin/"

The Islamic State of Iraq and Syria (ISIS) has proposed using bitcoin to fund global jihadist efforts.

Sky News reported that a blog post entitled ‘Bitcoin and the Charity of Violent Physical Struggle’ outlines a use case for bitcoin as a vehicle for terrorist financing, noting that its pseudonymous transaction capability fits well within the needs of jihadist organizers. The news site received the article from sources claiming to be members of the Islamic State, the so-called jihadi nation established by the ISIS leadership.

The concept that bitcoin could be used to help fund terrorists has been a long-standing concern among law enforcement and government agencies worldwide. Indeed, many restrictions placed on the use of digital currencies stem from these concerns.

According to the blog post, bitcoin makes it difficult for anti-terrorist financing authorities to stop transactions from taking place. Services such as DarkWallet were specifically cited as methods for making bitcoin payments between terrorists even more untraceable. The blog author noted that bitcoin presents tax evasion benefits as well.

The blog said:

“This system has the potential to revive the lost sunnah of donating to the mujahideen, it is simple, easy, and we ask Allah to hasten its usage for us.”

Notably, the article cites Silk Road as an example of how bitcoin can be used to procure weapons, sell drugs and engage in other illegal activities that support terrorism.

Avoiding detection

Terrorist funders may find bitcoin and other digital currencies attractive owing to the broad supervision and monitoring of the global financial system. Specifically, in the post-9/11 world, many governments actively watch for suspicious money movements.

By using bitcoin, ISIS and other organizations could circumvent legal barriers that keep money away from terrorists. The digital currency’s borderless transaction capabilities and avoidance of major money conduits make it a logical fit for terrorists – and a likely target for law enforcement officials concerned about this exact application.

The blog author wrote that, as a result of anti-terrorism financial restrictions and cooperation between governments on these efforts, jihadist funding has all but dried up. Only the wealthiest supporters are able to contribute by using traditional currencies and payment methods.

However, bitcoin presents a hard-to-trace option for terrorism funding, the ISIS paper continues. As well, block chain-based smart contracts may be used to support jihadist efforts.

The blog post concluded:

“This allows our brothers stuck outside of the ardh Dawlatul-Islam to avoid government taxes [and] secretly fund the mujahideen with no legal danger upon them.”

Call to utilize DarkWallet

For terrorist groups like ISIS, the appeal of bitcoin lies in the ability to mask transactions – or at least hide them amidst the broader movements of the bitcoin network.

The potential use of bitcoin to fund terrorism is being actively investigated by a number of government agencies, including the US Department of Defense.

The article specifically calls for ISIS to use DarkWallet as a platform of funding, saying:

“DarkWallet’s beta release will be published within the next coming months, the mujahideen of Dawlatul­ Islam would simply need to set up a wallet and post their wallet address online. Then, Muslims from across the globe could simply copy the wallet address, login to their [wallets], purchase whatever amount of bitcoin they wish to send, and send them over.”

CoinDesk reached out to the DarkWallet development team for comment but did not receive an immediate response.

By citing DarkWallet specifically, the blog highlights potential avenues for terrorist financiers to use freely available bitcoin services. Beyond bitcoin, there are several altcoins that present potential applications of transaction anonymizing technology that could be leveraged to fund terrorism.

Source "http://www.coindesk.com/isis-bitcoin-donations-fund-jihadist-movements/"

Currently i am working on my project.I will surely share one great bitcoin startup idea after finishing the work.THANKS

Argentine will win this world and i will win 5 BTC
 

17j2EtqLn8LvgVnPG7P48vr2jz62btGwKt
Thanks buddy

BTCOn Friday, the U.S. Marshals auctioned off the nearly 30,000 Bitcoin seized from infamous online drug bazaar Silk Road. The Marshals planned to sell them off in nine blocks to different bidders, but one bidder wound up beating out the competition: venture capitalist Tim Draper, for whom VC-ism runs in the blood (his grandfather and father were successful VCs, and his son runs a tech incubator). During a press conference Wednesday, Draper refused to reveal how much he paid for the Bitcoin — valued at about $17 million the day of the auction — stating only the obvious, that he “paid more than the other people in the auction.” According to a Marshals spokesperson, 45 bidders had made 63 bids.

Read more " http://www.forbes.com/sites/kashmirhill/2014/07/02/tim-draper-silk-road-bitcoin-auction/ "

thats good.
do you want to promote ur coin at my facebook group?
it hav more than 800 members.
see
facebook.com/groups/bitkoin

@TK808

Make an affiliate system like latium (bit.do/latiums) for your coin.This nice way to promote coins.

Yeah its not gives you much but I am now developing bitcoin related games will be live soon.

A single bidder bought a large cache of bitcoins at an U.S. government auction, part of a larger pool of the virtual currency seized from the Silk Road website.

The auction attracted 45 bidders, including New York brokerage SecondMarket Inc., and 63 bids were submitted during the 12 hours of the auction on June 27, according to the U.S. Marshals Service. The agency, which said yesterday that it notified the bidder and transferred the money, didn’t disclose the winner’s identity.

The auction of 29,656 bitcoins, part of more than 144,000 the FBI transferred to U.S. Marshals after shutting down the Silk Road marketplace and arresting its operator last year, represented a rare opportunity to secure a large cache of the virtual currency. While the actual price of the winning bid isn’t known, the cache sold on June 30 was worth about $19 million at current exchange prices.

SecondMarket, Rangeley Capital, Pantera Capital Management, Bitcoin Shop and Coinbase Inc. said they were outbid in the auction.

Dan Morehead, chief executive officer of Pantera, said that the spectacle of the U.S. government auctioning bitcoins suggested that “supply creates its own demand.”

“The publicity created a tremendous amount of demand,” Morehead wrote in an e-mail. “We had several large new players bid.”

Charles Allen, CEO of Bitcoin Shop, said his company’s bid wasn’t accepted.

“As a mechanism to hedge our proposed investment, we also bid through the SecondMarket syndicate for a smaller allocation, but that bid was not accepted either,” Allen said. “We submitted a bid price that, if accepted, reflected our determination of a competitive and attractive value for our investors.”

Silk Road

Because liquidity on the exchanges is low -- a trade of 500 bitcoins can move prices -- the auction offered a chance to avoid paying a premium. More bitcoins may be sold later, U.S. Marshals have said.

The sale excludes bitcoins the government obtained from computer hardware owned by Ross William Ulbricht, who the U.S. said ran Silk Road. The marketplace was an online bazaar where anonymous users allegedly bought and sold heroin, LSD, phony passports and computer hacking services. Ulbricht is contesting charges and filed a claim asserting ownership of the bitcoins.

Price Rally

SecondMarket, which specializes in hard-to-trade assets, already runs a trust for investors that lets people buy bitcoins without the risk or technical complications of owning them directly. SecondMarket began raising money in September for the trust, which now has $62.5 million in assets and is seeking to open it to smaller investors as well.

Barry Silbert, SecondMarket’s CEO, wrote in a Twitter message that it was outbid “on all blocks” of bitcoin the Marshals auctioned.

The price of bitcoins skyrocketed in 2013 to $1,147 from around $12 as technologists and speculators flocked to the digital currency, before dropping sharply amid regulatory crackdowns in China, Russia and elsewhere. One bitcoin fetched about $644 yesterday, according to the CoinDesk Bitcoin Price Index, which represents an average of bitcoin prices across leading global exchanges.

Bitcoins, which exist as software and aren’t controlled by any single authority or country, emerged in 2009 out of a paper authored under the pseudonym Satoshi Nakamoto. Since then, retailers selling everything from hotel bookings to psychiatric services to luxury homes have started accepting bitcoins

SOURCE "http://www.bloomberg.com/news/2014-07-01/bitcoin-auction-ends-single-bidder-wins-entire-cache.html"

hahaha..
i will use this service for only a month,then i will go to Stunna signature compaign

Enrolling

Username: Coinbuddy
SRCC address: Siep47CYSWkKqQNGfu3BFveNK6jhnu8Ds3
Current Post Count: 183
Current Activity: 56
Member Rank: Jr Member

Nice man
30 SRCC worth 0.0013836 BTC
not bad for a Jr member

Thanks you ideas will be implemented soon.
Promote Coinev.com every where.