Bitcoin: Is it really ripe for a Greek rally?http://www.cnbc.com/id/102768928The price of bitcoin hit its highest level since early April this week, amid reports that concerned Greek investors were flocking to the digital currency.
Bitcoin has enjoyed a solid week of gains, rising around 5 percent since Monday, according to industry website Coindesk. This came as Reuters, citing two bitcoin experts, reported that the rally was due to Greek depositors.
The decentralized digital currency is seen as having the potential to circumvent any capital controls that may be imposed in Greece, as the country edges closer to an important repayment deadline amid fears that the country could default on its debt.
...
|
|
|
|
Small bitcoin mentioning in an article re Reddit alternative. Reddit users flee to Swiss copy Voat after harassment clampdownhttp://www.theguardian.com/technology/2015/jun/15/reddit-users-flee-to-voat-after-harassment-clampdownDisgruntled Redditors have decamped en masse to a Swiss-based clone of Reddit called Voat after the site’s administrators banned five subreddits for harassing behaviour.
In response to the deluge, Voat, which mimics Reddit’s design and layout (albeit using “subverses” rather than “subreddits”) was forced to ask for bitcoin donations to keep the site live.
...
Among the subreddits banned from Reddit were “hamplanethatred” and “fatpeoplehate”, both of which were focussed on harassing and abusing overweight people, and racist forum “shitniggerssay”. Reddit’s admin staff emphasised in a statement that “we’re banning behaviour, not ideas.”
...
|
|
|
|
Sidechains And Lightning, The New New Bitcoinhttp://techcrunch.com/2015/06/13/down-the-blockchain-rabbit-hole/The great thing about Bitcoin, for a tech columnist like me, is that it’s simultaneously over-the-top cinematic and technically dense. Richard Branson recently hosted a “Blockchain Summit” at his private Caribbean island. There’s a Bitcoin Jet. At the same time, 2015 has seen the release of a whole slew of technically gnarly–and technically fascinating–proposals built atop the Bitcoin blockchain.
In case you’ve been living in a Faraday cage: a blockchain is a distributed peer-to-peer ledger system, (generally) safeguarded by cryptographic proof-of-work, initially devised by a mysterious entity called Satoshi Nakamoto … who released Bitcoin, the world’s first blockchain network/protocol/application/currency, in 2009.
...
|
|
|
|
This isn't a new story, we've already seen press hits regarding the mentioned blog, just a follow up, the author will face up to 15 years in prison: Jihadist US teen faces prison for blog, tweets about encryption and Bitcoinhttp://arstechnica.com/tech-policy/2015/06/jihadist-us-teen-faces-prison-for-blog-tweets-about-encryption-and-bitcoin/A 17-year-old Virginia teen faces up to 15 years in prison for blog and Twitter posts about encryption and Bitcoin that were geared at assisting ISIL, which the US has designated as a terror organization.
The teen, Ali Shukri Amin, who contributed to the Coin Brief news site, pleaded guilty (PDF) Thursday to a federal charge of providing material support to the Islamic State in Iraq and the Levant.
... |
|
|
|
Overstock Will Issue a Private Bond Powered by Bitcoin Techhttp://www.wired.com/2015/06/overstock-will-issue-private-bond-powered-bitcoin-tech/Overstock.com is preparing to offer a $25 million private bond using the blockchain, the distributed online ledger that underpins the bitcoin digital currency.
Earlier this week, the online retailer circulated a document among hedge funds, private equity groups, and other potential Wall Street investors indicating it was offering such a bond. Company CEO Patrick Byrne, the circular says, “believes that cryptotechnology can do for the capital market what the internet has done for consumers”—a reference to the type of technology that drives bitcoin.
Byrne confirms the plan, saying that Overstock could issue its bond as soon as today. Though the company would like to raise the full $25 million from investors, he says, it could issue a bond for less than that total just to get it out the door. Byrne, an outspoken crusader for this type of technology, is intent on being the first to offer what’s called a cryptosecurity.
...
|
|
|
|
Yes, it's Mark Karpeles criticising current exchanges. Former Mt. Gox CEO: Current Bitcoin exchanges are a ‘disaster waiting to happen’http://fusion.net/story/143307/former-mt-gox-ceo-current-bitcoin-exchanges-are-a-disaster-waiting-to-happen/When we last saw Mark Karpeles, the former CEO of collapsed Bitcoin exchange Mt. Gox, he was bowing deeply for forgiveness after having lost millions of dollars’ worth of Bitcoin.
Since then, he has been the subject of allegations in the Silk Road case that he was the real “Dread Pirate Roberts,” the pseudonymous head of the black market site, and revealed as the missed target in a bungled U.S. Drug Enforcement Administration investigation into the collapse of the world’s largest crypto exchange.
In fact, Karpeles has yet to be formally charged in either matter. Nor it seems has he quit the Bitcoin world.
... Link to MK's post: http://www.magicaltux.net/post/120528127244/didnt-we-learn-anything |
|
|
|
NY Financial Regulator Lawsky Releases Final BitLicense Rules for Bitcoin FirmsRules to only regulate intermediaries with custody of customer funds, not software developershttp://www.wsj.com/articles/ny-financial-regulator-lawsky-releases-final-bitlicense-rules-for-bitcoin-firms-1433345396Outgoing New York Superintendent of Financial Services Benjamin Lawsky released sweeping new rules for licensing digital-currency businesses in the state Wednesday, staking part of his legacy on launching a specialized regulatory regime for an industry that many experts believe could play a significant role in the financial system.
The new rules, which Mr. Lawsky announced during a speech in Washington—his last as superintendent before departing at the end of this month—were met with a mix of condemnation and support from bitcoin advocates, who have long feared that the regulations could stifle innovation in their nascent industry.
...
|
|
|
|
Some big news, but anyone with a bit of knowledge of current affairs in politics probably won't be surprised: Turkish Daily Accuses Govt. of Sending Arms to Syria Rebelshttp://www.naharnet.com/stories/en/180421Turkey arrest its own prosecutors for trying to stop weapons delivery disguised as humanitarian aid. Worth noting: Cumhuriyet, which also published a series of still images, said the weapons were of Russian origin and had been supplied from ex-Soviet countries. Cheap trick to frame Russia for supporting IS? |
|
|
|
Few days old article, but no one posted it due to forum being down: Happy Bitcoin Pizza Day!http://techcrunch.com/2015/05/22/happy-bitcoin-pizza-day/Every May 22 cyphernerds around the world celebrate Bitcoin Pizza Day, the day when early bitcoin enthusiast and programmer Laszlo Hanyecz offered 10,000 bitcoins – about $25 at that time – for two Papa John’s pizzas (pictured above). In 2010 he posted this to a bitcoin message board:
I’ll pay 10,000 bitcoins for a couple of pizzas.. like maybe 2 large ones so I have some left over for the next day. I like having left over pizza to nibble on later. You can make the pizza yourself and bring it to my house or order it for me from a delivery place, but what I’m aiming for is getting food delivered in exchange for bitcoins where I don’t have to order or prepare it myself, kind of like ordering a ‘breakfast platter’ at a hotel or something, they just bring you something to eat and you’re happy!If you’re interested please let me know and we can work out a dealThanks,
Laszlo
Those bitcoins would be worth $2,330,000 today.
... |
|
|
|
Lawsky’s Last Bitcoin Licensing Playhttp://www.pymnts.com/news/2015/lawskys-last-bitcoin-licensing-play/#.VWNRxcZ2UZwNew York is on the verge of getting new licensing rules governing commercial use of virtual currencies including bitcoin. As Benjamin M. Lawsky steps down next month as head of the New York State Department of Financial Services (NYDFS), he will unveil a set of rules known colloquially as the BitLicense, The Wall Street Journal reported Thursday (May 21).
BitLicense traces its genesis to the end of 2013, and would govern how digital currency companies might be regulated in the state. There was a comment period in March. During that comment period, bitcoin firms, financial backers and other players stated they are concerned that the BitLicense, the first one of its kind, will serve as a harbinger for what is to follow in other states.
Industry participants worry the regulations could place stumbling blocks in the way of small tech companies or startups with limited access to funds and other resources.
...
|
|
|
|
North Carolina legislators consider law regulating commerce in virtual currencies like Bitcoinhttp://www.tribtown.com/view/story/e98c2af5d2eb43bea9d09c86e00e689b/NC--Virtual-CurrencyRALEIGH, North Carolina — Legislators in America's second-largest banking center are considering regulations for Bitcoin and other virtual currencies.
North Carolina's banking commissioner is seeking legislative authority to require that companies circulating digital IOUs meet consumer protection, anti-money laundering and other standards. Legislation passed the state House earlier this month and is pending in the Senate.
Though North Carolina State University's football team won last December's Bitcoin Bowl in St. Petersburg, Florida, the public's understanding of virtual currency is still in catch-up mode.
The online-only money allows users to swap cash for online funds using Internet exchanges, then store it in a wallet program on their computer. The program can transfer payments to a merchant or private party anywhere in the world, eliminating transaction fees and the need to provide bank or credit card information. There are dozens of decentralized currencies based on the bitcoin protocol like Litecoin, Auroracoin and Peercoin.
...
|
|
|
|
MIT aims to give bitcoin research, development a stable homehttp://www.betaboston.com/news/2015/05/25/mit-aims-to-give-bitcoin-research-development-a-stable-home/Bitcoin survived a wild youth marked by drug trafficking, money laundering, theft, bankruptcy, and political spats. Now, the digital currency is getting cleaned up and heading to grad school.
A fledgling project at the Massachusetts Institute of Technology Media Lab is offering researchers and software developers a quiet home to work on bitcoin’s core technology, a computer science breakthrough that lets people trade money securely without paying a middleman.
Media Lab leaders hope that, by acting as a safe home for research and development, MIT can help the sprawling bitcoin software project shed its chaotic past and emerge as a more versatile technology platform.
If the idea works, bitcoin’s underlying technology — known as the blockchain — has a chance to become a new digital system that makes transferring money or signing a contract as cheap and simple as sending an e-mail.
...
|
|
|
|
Bitcoin really is useful. Just not in the way you thinkhttp://www.theguardian.com/commentisfree/2015/may/23/bitcoin-really-useful-not-in-way-you-thinkWhen the banking system went into meltdown in 2008, an intriguing glimpse of an alternative future appeared. On 31 October, an unknown cryptographer who went by the name of Satoshi Nakamoto launched what he described as “a new electronic cash system that’s fully peer to peer, with no trusted third party”. The name he assigned to this new currency was bitcoin.
Since then, the world has been divided into three camps: those who think that bitcoin must be a scam; those who think it’s one of the most interesting technological developments in decades; and (the vast majority) those who have no idea what the fuss is about.
I belong in the second camp, but I can see why others see it differently. Those of the scam persuasion, for example, see the absence of any central authority, the wild fluctuations in the value of bitcoins (they were worth more than $1,000 in November 2013, around $235 at the moment), the mysterious collapse of one of the big bitcoin exchanges, the hacking of some of the digital “wallets” in which people keep their bitcoins and so on. And if the sceptics had any doubts, the news that Rand Paul, the libertarian US politician now running for president, is willing to take campaign contributions in bitcoins tends to confirm their suspicions that it’s just a fantasy.
...
|
|
|
|
Silicon Valley banks on Bitcoin as a way to overtake Wall Street (video + article) http://finance.yahoo.com/news/silicon-valley-sees-bitcoin-as-its-way-to-overtake-wall-street-120920191.htmlIf you asked most people through history their biggest complaint about money, most would say they just don’t have enough of it.
But there have long been small factions dissatisfied with the dominant forms of money, which sought a more secure, private, efficient means of storing wealth and paying for things.
The digital currency Bitcoin emerged from these desires, enabled by pervasive access to the Internet and alarm over the failures of central banks and private financial institutions in the credit bust of the late 2000s.
...
|
|
|
|
Nick Szabo Is Probably Bitcoin Creator Satoshi Nakamotohttp://www.gizmodo.com.au/2015/05/nick-szabo-is-probably-satoshi-nakamoto/Cryptocurrency expert and guy who continually denies he’s Satoshi Nakamoto, Nick Szabo, is probably Bitcoin founder Satoshi Nakamoto, according to the New York Times. “I’m not Satoshi,” Szabo told reporter Nathaniel Popper. He probably is, though.
Popper outlines the evidence for the “Nick Szabo is Satoshi Nakamoto” consensus that’s currently brewing: Szabo created a Bitcoin predecessor called “bit gold” and he was in contact about that project with the same people who Satoshi first contacted about Bitcoin. He back-dated a blog post asking for help turning bit gold into reality to make it appear like he wrote it after Satoshi’s paper on Bitcoin was released in 2008. And he just sounded a hell of a lot like Satoshi:
Mr. Szabo’s writing about bit gold from that time contains many striking parallels with Satoshi’s description of Bitcoin, including similar phrasings and even common writing mannerisms. In 2014, researchers at Aston University, in England, compared the writing of several people who have been suspected to be Satoshi and found that none matched up nearly as well as Mr. Szabo’s. The similarity was “uncanny”, said Jack Grieve, the lecturer who led the effort.
Popper isn’t the first to put forth the “N.S. = S.N.” hypothesis, and despite denials, even Nick Szabo thinks that Nick Szabo is probably Satoshi Nakamoto. “All I’m saying is, there are all these parallels and it looks funny to me and looks funny to a lot of other people,” he said. Edit: NY Times article referred to above: http://www.nytimes.com/2015/05/17/business/decoding-the-enigma-of-satoshi-nakamoto-and-the-birth-of-bitcoin.html
|
|
|
|
Bitcoin’s Growing PainsBurgeoning Transactions Present Congestion Dilemmahttp://panampost.com/franco-amati/2015/05/14/bitcoins-growing-pains/The bitcoin network processes approximately 100,000 transactions every day, or on average around one transaction per second. It seems like nothing by comparison with popular payment methods. PayPal says it handles 11 million daily transactions (127 per second), while Visa nears 216 million (2,500 per second).
Bitcoin is a long way from achieving such heights, but it’s growing. Around this time last year, the network processed half the volume it does today: transactions have doubled.
The concern is that bitcoin, as it stands today, can manage three transactions per second at most. This limit during peak times or specific scenarios is already a problem, delaying transactions and sparking controversy among developers: not only about the possible solutions, but also who gets to decide on them in a community that has always strived to be as decentralized as possible
...
|
|
|
|
Nasdaq bets on bitcoin's blockchain as the future of financehttp://www.theguardian.com/technology/2015/may/13/nasdaq-bitcoin-blockchainThe stock exchange is experimenting with ‘coloured coins’ as a way to use the public ledger to record private equity transactions
The US stock-exchange Nasdaq is experimenting with incorporating the underlying technology of the bitcoin cryptocurrency into its pre-IPO trading arm, Nasdaq Private Markets.
The wing, a subsidiary of the company that focuses on assisting investment for firms that are not yet publicly traded, will begin to write a copy of its trades into the publicly available ledger of all bitcoin transactions, known as the “blockchain”.
...
|
|
|
|
Does the Price of Bitcoin Matter?http://www.nasdaq.com/article/does-the-price-of-bitcoin-matter-cm476312For true devotees of Bitcoin, the price of the digital currency is almost irrelevant. They believe in its inherent value or, more frequently, cannot see any value at all in the alternative of government issued fiat currency. Price is therefore not a concern. At the other end of the spectrum, for those that harbor what appears to be an irrational hatred of Bitcoin and anything to do with it, the exchange rate also matters little. They were screaming that it was all worthless when the price was at over $1000, and somehow convince themselves that an exchange rate of over 200 times what it was before that bubble proves their point. For the vast majority of people somewhere in the middle, however, the price of the currency in Dollar, Euro, Yuan or whatever terms is important.
... Main point: Like it or not, if Bitcoin is to really fulfill its potential, it has to achieve some degree of mainstream acceptance. The events of the last few months have shown that that is far more likely if the price is at least relatively stable. If for no other reason than that, whatever those on the extremes may say, price does matter.
|
|
|
|
Rand Paul Appoints Bitcoin-Friendly Overstock CEO To Tech Counselhttp://techcrunch.com/2015/05/11/rand-paul-appoints-bitcoin-friendly-overstock-ceo-to-tech-counsel/Sen. Rand Paul (R-KY) has appointed Overstock.com CEO Patrick Bryne to his tech counsel, a group that includes Michele Weslander Quaid of Google, and Brandon Hudgeons of Schoox and will help shape the presidential candidate’s tech platform.
The move has left bitcoin lovers in a tizzy. Byrne was one of the first CEOs to embrace bitcoin on a mass-market retail platform and is considering using a blockchain-like system for selling shares of his company.
Sen. Paul is also the first presidential candidate to accept bitcoin contributions, and he recently opened a “Silicon Valley office” at a space called StartupHouse.
...
|
|
|
|
|
Show Posts
