 Show Posts
|
|
Pages: [1] 2 3 »
|
|
I look around and see people no longer have goals.
We are perfect consumers. And I can't help thinking that over time, we have been "gently" pushed in this direction.
No more goals, no ideas, ideology, morals or principles. Just having the latest iWhatever, fast car and sleep with plenty of women. Like a new special breed of zombies.
In the past people fought and gave their life for freedom. And now I think we are less free then before. It's just that we are persuaded otherwise. Like in ancient Rome - bread and circus.
|
|
|
|
http://www.lexisnexis.com/legalnewsroom/bankruptcy/b/bankruptcy-law-blog/archive/2014/04/03/bankruptcy-judge-bitcoin-ceo-must-come-to-the-united-states-to-be-deposed.aspxDALLAS — (Mealey’s) The federal bankruptcy judge presiding over the Chapter 11 case of bitcoin exchange operator MtGox Co. Ltd. today ordered the company’s CEO to fly to the United States from Japan to be deposed, a source told the LexisNexis Bankruptcy Report (In Re: MtGox Co. Ltd., No. 14-31229, Chapter 15, N.D. Texas Bkcy.).
Bankruptcy
MtGox Co. Ltd. filed for Chapter 15 bankruptcy on March 9- Before its petition, Mark Karpeles, the CEO of MtGox Co. Ltd., filed an application to commence civil rehabilitation proceedings in the Tokyo District Court- Civil rehabilitation is the Japanese equivalent of filing for bankruptcy in the United States.
MtGox Co. Ltd. is the parent company for MtGox Inc., MtGox KK and Tibanne KK, all of which entered bankruptcy at the same time.
The same day MtGox Co. Ltd. filed for civil rehabilitation, a group of investors filed a putative class action against MtGox Inc. in the U.S. District Court for the Northern District of Illinois, alleging fraud, breach of contract and other causes of action related to the loss of 744,000 bitcoins, which the investors contended were valued at $409.2 million (Gregory Greene, et al. v. MtGox Inc., No. 14-01437, N.D. Ill.).
On March 25, the investors moved in the U.S. Bankruptcy Court for the Northern District of Texas to compel Karpeles to provide deposition testimony and offered to pay his travel expenses from Japan to the United States.
Travel
Despite the offer, the investors contend that Karpeles persisted in his refusal to travel to the United States “based solely on the inconvenience of the time it takes for a flight to the United States and an amorphous need to focus on the Japan proceeding.”
Bankruptcy Judge Stacey G. Jernigan issued a verbal order from the bench, a source said, which compels Karpeles to come to the United States and give deposition testimony.
The class is represented by Christopher L. Dore, Jay Edelson, David I. Mindell and Alicia Hwang of Edelson in Chicago and Segeven L. Woodrow and Megan Lindsey of Edelson in Denver- The MtGox entities are represented by Junko Suetomi and Yamamoto Hideyuki of Baker & McKenzie, Akio Shinomiya and Kazumasa Kawai of Yodoyabashi & Yamagami Legal Professional Corp. and Nobuaki Kobayashi of Nagashima Ohno & Tsunematsu, all in Tokyo- Karpeles is represented by David W. Parham and John Mitchell of Baker & McKenzie in Dallas.
|
|
|
|
http://www.cio.com/article/750351/_39_Malleability_39_Attacks_Not_to_Blame_for_Mt._Gox_39_s_Missing_Bitcoins_Study_Says?page=2&taxonomyId=3055IDG News Service (Tokyo Bureau) — Fewer than 400 bitcoins could have been stolen from the Mt. Gox Bitcoin exchange using so-called transaction malleability attacks, according to A Swiss study, far less than the hundreds of thousands of bitcoins the company reported.
The findings cast doubt on the failed exchange's explanation of how it lost nearly half a billion dollars' worth of the digital currency when it applied for bankruptcy protection in Tokyo on Feb. 28.
The study was written by Christian Decker and Roger Wattenhofer of the Distributed Computing Group at the Swiss Federal Institute of Technology Zurich (ETH). It was uploaded to the academic prepress site ArXiv.org and has not been published by a peer-reviewed journal.
"In February 2014 MtGox, once the largest Bitcoin exchange, closed and filed for bankruptcy claiming that attackers used malleability attacks to drain its accounts," the authors, who have authored several papers on Bitcoin and distributed systems, write.
"In this work we use traces of the Bitcoin network for over a year preceding the filing to show that, while the problem is real, there was no widespread use of malleability attacks before the closure of MtGox."
The study looks into the plausibility of the claim that transaction malleability brought down Mt. Gox. The Tokyo-based exchange had said that a bug in the Bitcoin software could be used to fraudulently alter the records of how bitcoins change hands.
When Mt. Gox collapsed with liabilities of AY=6.5 billion (US$63.6 million), it said that it had lost about 850,000 bitcoins, which would have been worth some $474 million. It cited exploitation of a bug in the Bitcoin system, saying it believed "that there is a high probability that these bitcoins were stolen as a result of an abuse of this bug."
Before trading stopped at the exchange on Feb. 25, Mt. Gox had blamed the transaction malleability issue when it suspended withdrawals of bitcoin to outside addresses.
In their study, the ETH researchers describe how they created specialized nodes that could trace, from January 2013, all transactions on the Bitcoin network including double-spending attacks, of which malleability attacks are described as a variant.
They found that only 302,700 bitcoins were involved in malleability attacks.
"Of these, only 1,811 bitcoins were in attacks before MtGox stopped users from withdrawing bitcoins," they wrote. "Even more, 78.64 percent of these attacks were ineffective. As such, barely 386 bitcoins could have been stolen using malleability attacks from MtGox or from other businesses. Even if all of these attacks were targeted against MtGox, MtGox needs to explain the whereabouts of 849,600 bitcoins."
Mt. Gox CEO Mark Karpeles did not respond to an email seeking comment on the study.
In an email, Wattenhoffer said the study has not been submitted to a peer-reviewed journal, adding "We will do this eventually, but reviewing takes time, and in this case we felt that some people might be eager to hear the news before the usual several-months peer-review cycle is over."
While observers on the Bitcointalk.org forum welcomed the study, they also cautioned that it only went back as far as January 2013.
"It's possible Gox was hit much harder in previous years," one commentator wrote. "Although that would also mean the amount of time they spent oblivious to the problem increases."
Software developer Mike Hearn, who works on bitcoin-related projects, welcomed the study's findings. "People were raising the alarm about this claim almost as soon as it was made by Mt Gox. Although in theory their explanation could have worked (if we assume really bad decisions on their part like not investigating failed withdrawals and just repeating them), the vast sums of money being talked about stretched credulity. And nobody else had reported observing lots of mutated transactions. Now we have data to prove this was correct," he said via email.
|
|
|
|
This not only affects BTC,but also some alt-coins as well. http://www.dcmagnates.com/ouch-now-vircurex-is-freezing-withdrawals-to-cover-last-years-losses/Frozen Funds
In preparation of the following, we have with immediate effect stopped the possibilities to withdraw BTC, LTC, FTC and TRC. All incoming deposits will also not be credited to the users accounts for the time being.
On 24th March 2014 we will be freezing the current BTC, LTC, TRC and FTC accounts, then perform the below distribution of the available coins and reenable deposits and withdrawals. This action will also require us to delete all open sell orders for BTC, LTC, FTC and TRC.
As you may very well be aware, we had two incidents last year that lead to a loss of a significant number of BTC, LTC, FTC, TRC. We had communicated at that time that we will be covering those losses from our income, which we have done so far. We had enough coin balances in our cold wallet to upkeep our platform and the positive cashflow enabled us to gradually refill the wallets.
Unfortunately we had large fund withdrawals in the last weeks which have lead to a complete depletion of our cold wallet balance and we are now facing the option of either closing the site with significant unrecoverable losses for all or to work out a solution that allows the exchange to continue to operate and gradually pay back the losses.
We have obviously chosen the later and hence are going to do the following:
1. We will introduce an additional balance type called "Frozen Funds". Funds in this balance type cannot be used to trade or withdraw. Those are the balances that the exchange will gradually pay back and hence transfer back to the available balance over time.
2. We will move all current balances for BTC, LTC, TRC and FTC to the "Frozen Balance", i.e. your balance will be set to 0.
3. We'll take the current available cold storage balance and distribute it based on the below described distribution logic.
4. Monthly we will take the net profit of the exhchange and credit back that amount distributed to the users based on the described distribution logic. |
|
|
|
.........I guess Mtgox might be on to something? Bitstamp, one of the biggest online Bitcoin exchanges, has suspended withdrawals, the latest setback for the virtual currency following a service disruption at a Tokyo-based exchange last week.
A denial-of-service attack, in which a website is flooded with massive requests for data, obstructed Bitstamp’s ability to check account balances, the exchange said in a statement. Customers won’t be able to withdraw funds until a fix is issued, and transactions that failed today and yesterday will be canceled, the company said.
Bitcoin is a digital currency that can be used to buy everything from Tesla Motors Inc. cars to Gummi bears. Mt.Gox, the other major online exchange, said on Feb. 7 that it stopped withdrawals because of a technical issue. The virtual currency has since declined about 19 percent and was trading at $642.29 at 2:23 p.m. in New York, according to the CoinDesk Bitcoin Price Index, which averages exchange prices.
“This is a nuisance attack,” said Andreas Antonopoulos, chief security officer for Blockchain.info, a provider of online wallets for a digital currencies. “Funds have not been lost, and have not been affected. What it’s done is slow down their accounting system from reconciling transactions.”
Antonoupoulos said withdrawals will probably resume within two days.
“No funds have been lost and no funds are at risk,” Bitstamp said in the statement. A message sent to the office of Bitstamp seeking comment wasn’t immediately returned.
The governments of India, China and Russia have sought to ban or limit the use of Bitcoins, which exist as software and aren’t controlled by any central authority. Some U.S.-based exchanges have either closed at the behest of law enforcement or had difficulties obtaining business bank accounts due to regulatory concerns.
Mt.Gox said yesterday that services were restored and that customers can take out cash “as normal.” |
|
|
|
http://rt.com/business/bitcoin-china-btc-reopen-458/The world’s biggest bitcoin exchange by volume has reopened allowing yuan-to-bitcoin deposits. This goes against an order by the People’s Bank of China, which said all bitcoin trading should stop before the Chinese New Year, January 31.
BTC China executive Bobby Lee said that as of Thursday, the exchange decided it could legally accept bitcoin deposits in its corporate bank account, and then transfer funds to customer accounts.
Shanghai-based BTC China stopped accepting deposits in Chinese yuan in December after the People’s Bank of China warned financial institutions not to sell or trade bitcoin. Government ministries told financial institutions dealing with bitcoin they must stop by January 31, the beginning of Chinese New Year holiday.
"We are definitely in compliance with the Dec. 5 memo, but the government and the government agencies can change the rules anytime in the future," Mr. Lee told the WSJ by phone. "So we are going to take a wait-and-see approach."
Bitcoin prices tumbled more than 50 percent when the exchange shut down just before the calendar new year holiday. According to Lee, the comeback was strategically planned around the beginning of the Chinese holiday, as not too draw too much attention.
"It is going to be slow in terms of trading value, so we just wanted to make sure the system is running smoothly, that there is not too much pressure and that it doesn't pick up too much attention."
According to Chinese officials, bitcoin has “no legal status or monetary equivalent” and financial institutions shouldn’t treat it as legal tender, however it can be traded as a commodity on the internet.
|
|
|
|
I wonder why'd they do this since they have ripple already. The first thing to know about Bitcoin has nothing to do with how it works or what the current value of one is — of primary importance is the fanatical devotion Bitcoin users have to the mother of all cryptocurrencies. Many fans of Bitcoin promote the anonymous internet money at every turn, encouraging others to use it as a way to combat everything from government overreach to unethical banking practices. This is why cryptocurrencies are still a thing. Bitcoin enthusiasts scored a major victory when Overstock and Zynga started accepting Bitcoins recently, and that prompted one fan to start asking other internet companies what their plans were. Surprisingly, the one organization he got anywhere with was Google.
Updated: Google has since issued a statement that it isn’t looking to incorporate Bitcoin — but as far as we can tell, the email conversation isn’t being contested. Basically, Google probably is investigating Bitcoin, but isn’t quite ready to publicly jump on the train.
It was an email to Google+ head honcho Vic Gundotra that got a response. Gundotra forwarded the message to the Google’s commerce team, and a manager there confirmed that the company is indeed investigating how Bitcoin could be incorporated. Mountain View has been careful to say that there are no immediate plans to accept Bitcoin, but Ariel Bardin, VP of Google Payments did request the original emailer start a Google Moderator discussion to see what users wanted Google to do with Bitcoin. The entire exchange was detailed on the Bitcoin section of Reddit.
Bitcoin has been on a steady rise over the last year, more than doubling in value over a few months. Even recent law enforcement actions against Tor network sites (where Bitcoin is very popular) and China’s crackdown on the currency haven’t dampened enthusiasm much — a single Bitcoin is still worth over $900. A year ago one Bitcoin could be exchanged for a mere $20.
The question remains, what would Google do with Bitcoins? The overwhelming majority of Google’s business comes from Adsense, so clearly taking payments for ads in Bitcoin would have the largest impact and would make Bitcoin fans extremely happy. However, Google has to police its Adsense content very well to keep scams and illegal goods out. Having a paper trail aids in accountability, but Bitcoin is anonymous by design. As such, Google’s involvement with Bitcoin, if any, is likely to be more modest.
Now that the word is out, though, I expect Google to do something if only to get brownie points from privacy advocates. Google sells various consumer digital goods like apps, music, and books through Google Play, and many of the suggestions pouring into the Google Moderator page are asking the company to enable Bitcoin and other cryptocurrencies in Google Wallet, and thus its entire content ecosystem. However, the act of paying 0.000012 BTC for an app lacks elegance, which is important in a consumer-facing venue like Google Play. Don’t expect a Bitcoin logo will be popping up in the Play Store any time soon.
A solution that satisfies all parties might be to allow Bitcoin transfers directly into Google Wallet. It would be a quick way for users to make Bitcoins “real” and only requires that Google change one of its systems to accommodate virtual money. The Google Wallet debit card might finally get some traction as the fastest way to spend Bitcoins in the real world. I wonder if this could have the same price affect Baidu did. |
|
|
|
http://news.cnet.com/8301-1023_3-57617502-93/ebay-to-allow-bitcoin-sales-in-virtual-currency-category/Please know that per our recent policy update, Virtual Currency (i.e. Bitcoin and Litecoin), whether digitally or physically delivered, cannot be listed in Auction-style or Buy-It-Now listing formats. eBay is opening a Virtual Currency category to allow the sale of virtual currency in Classified Ads format on February 10, 2014. We request that you do not list these items until that date. Please be informed that repeated breach of the policy may further jeopardize your account status. To avoid any inconvenience in future, we'd appreciated it if you go through our help pages or contact us before listing any such items Should be interesting what this effect this has on the sales price next month.
|
|
|
|
http://www.cbsnews.com/news/vegas-casinos-now-accepting-bitcoin/
LAS VEGAS - Las Vegas is getting one more novelty. Starting this week, patrons will be able to use the online currency Bitcoin to pay for rooms, food and drinks at two downtown casinos.
The D casino and the city's oldest casino, the Golden Gate, will accept bitcoins at hotel front desks beginning Wednesday. The cybercurrency will also be accepted at the D's gift shop and two restaurants. U.S. dollars will remain the only currency accepted on the gambling floor.
Derek Stevens, the co-owner of the two casinos, said he's been intrigued by Bitcoin for years and had talked with patrons who wondered if the casinos would use it.
He said it's tough to forecast how many patrons will pay for dinners and souvenirs with Bitcoin, but predicted other casinos will soon adopt the currency.
"For us, it's going to be somewhat exciting to see what kind of impact it'll have," he said.
State regulators are unlikely to allow casinos to exchange chips for bitcoins any time soon, according to A.G. Burnett, chairman of the Nevada Gaming Control Board.
The industry has not approached regulators about approving the currency for gambling.
"We would have to have an extremely high level of comfort with virtual currency of this kind in order for that to ever occur," Burnett said.
Bitcoin made its debut four years ago, and has been gaining momentum ever since, shedding its status as an internet oddity and approaching the mainstream.
Earlier this month, the Salt Lake City-based retailer Overstock.com became the first major retailer to accept the digital currency as payment for goods.
Unlike government-issued money, the value of Bitcoin fluctuates rapidly. Like Overstock.com, the two casinos will use a Bitcoin broker that immediately exchanges the digital coins into dollars.
Advocates describe Bitcoin as the foundation of a Utopian economy: no borders, no change fees, no closing hours, and no one to tell you what you can and can't do with your money.
I wonder what this would mean for the price as time goes on.
|
|
|
|
|
I have a pre-order for a KNC Saturn that is fully paid for and due for delivery by Oct. 15th.Interested parties can pay in BTC or other non-reversible forms of payment and would also be willing to do escrow provided you pay the fees.I can prove trust via Ebay history.
|
|
|
|
The difficult is going to be insanely high if they manage to get this out. The full-blown bitcoin mining arms race continues, as the eASIC/ActiveMining partnership announced more details on their ASIC bitcoin miner line that tops out at 24 TH/s. ActiveMining is a publicly traded bitcoin mining company who has partnered with eASIC to develop a 28nm application specific integrated circuit (ASIC) chip. ActiveMining is the parent company of Virtual Mining Corp (VMC), which is the business entity selling mining products to consumers. To design and manufacture the chips they teamed up with eASIC, a semiconductor company that’s received $124M in funding from well-respected investors If Butterfly labs were to be considered the Apple of the bitcoin mining world with their clean looking products and concise product lines (eschewing shipping concerns), VMC has gone the opposite route with industrial utility and hundreds of configurable options. They appear to be targeting large scale mining operations both with their choice of design and price point. A detailed table with configurations is provided at the end of this article. VMC offers three Editions of rack-mountable cases, which can be configured from 1 to 6 modules each. Modules range from 64 GH/s to 256 GH/s, depending upon the edition, and can be purchased with the cases or individually. There is also the option to use expansion cases in place of a module. Expansion cases are priced at $7,500 and can hold up to 16 modules – meaning each base unit can hold house anywhere from 1 to 96 modules if using 6 expansion cases. Additionally, modules can be run independent of their cases. Modules are PCI-E mounted, meaning they can also be used in a standard computer graphics card slot, and contain a USB port so they can be controlled unplugged from a motherboard as well. ActiveMining has closely guarded the production status of their chip. The more conservative estimate for their first shipment appears to be for November, with an October shipment schedule aggressive but possible. Current orders that are placed forecast a three-month lead time and an early December arrival date. It has become common practice in the ASIC bitocin mining industry to also offer bulk chip sales and VMC has offered these as well. They will sell their Fast-Hash chips, which run at 16 GH/s, in lots of 500 chips for $75,000. These can not be used immediately, but must be mounted in a printed circuit board (PCB). Avalon and Butterfly Labs have done this in the past and the bitcoin community has created open source designs available to anyone with the ability to manufacture them. It seems likely this will happen again when VMC releases more detailed chip information. ActiveMining Performance Active Mining Corporation is based out of Belize and has 25,000,000 outstanding shares. Of those there is a 10,000,000 share float (40%) traded on BTC Trading Corp and BitFunder and 15,000,000 restricted shares held by management. AMC initially planned on operating as a mining-share company after purchasing six Avalon Miners (430 GH/s total), 68 K-16 Boards (307 GH/s total) and 20,000 Avalon chips (5,640 GH/s total) for a combined total of 6,377 GH/s. They have received the six Avalon Batch 3 miners and are paying dividends on mining income, however the later two orders have yet to arrive and refund requests have been filed with Avalon. Active Mining Corp merged with Virtual Mining Corp, who had a prior relationship with eASIC to manufacture bitcoin mining hardware. Given that the network hash rate has continued to climb over 70% per month, combined with Avalon’s continuous trouble getting chips to customers, selling mining hardware will likely turn out to be more lucrative for shareholders. ActiveMining issued shares for their combined entity on July 8th for 0.0025 BTC, promising investors that restricted shares would not receive any dividends until their investment was recuperated. Share prices rose steadily through July before reaching an all-time high of 0.009789 on July 29th. Since then shares had declined to 0.004 BTC at the time of the eASIC 24 TH/s miner announcement, before reaching 0.0068 BTC several hours later and quickly retreating. ActiveMining has officially stepped into the 28nm bitcoin mining market and will compete head to head with KNC, HashFast (a separate company from ActiveMining’s Fast-Hash chip), and CoinTerra. New customers can expect similar delivery estimates across these competitors. KNC and HashFast orders placed now are expected to ship at the end of November, while VMC and CoinTerra’s orders will be shipping in December. All of these companies sold through pre-orders. With the steady 30%+ rise in difficulty every 2016 blocks, delivery schedule will prove as important as chip performance for customers. Time will tell which company has the most reliable supply chain and those that placed their bets properly stand to be rewarded handsomely.  |
|
|
|
I wonder if this caused the price to drop some. The potential regulation of UK bitcoin companies was discussed at a meeting this morning at the government’s headquarters, 10 Downing Street. Hosted by the Number 10 Policy Unit, the Financial Innovators Summit was attended by a number of financial technology companies, UK regulators and government members. Tom Robinson, co-founder of yet-to-launch UK virtual currency exchange BitPrice, attended the 1.5-hour meeting. He said: “The attendees ranged from crowdfunding companies to payment services businesses. There were also several representatives from the treasury, the FCA, the Number 10 Policy Unit, the Department for Business, Innovation and Skills and a few of the smaller banks.” He went on to say the organisers of the meeting mentioned bitcoin in their introductory speech, describing it along the lines of an “exciting new area of financial innovation, but one that faces some regulatory issues”. Lack of guidance Later on in the meeting, Robinson raised the point that the lack of clear regulatory guidance in the UK is stifling innovation in the digital currency space. “Guidance has been issued in Germany and the US, which has led to a lot of digital currency startups in those countries,” he said, adding that BitPrice as a company welcomes regulation. “We think it should be appropriate legislation, but we also think it should be put in place fairly rapidly, otherwise the UK is going to lose out.” One of the meeting attendees suggested there should be an international approach to the regulation of bitcoin and other virtual currencies, but Robinson questioned how easy this would be and how long it would take to create. He suggested that, while the UK can tend to follow in the footsteps of the US, regulators at the meeting said they are going to look into the subject themselves and make their own decisions. Robinson said he left the meeting feeling largely optimistic, as the FCA said it is actively looking into virtual currencies and how they should be regulated. However, the body didn’t give any kind of time frame on how long it would take to come to a decision. “The very broad point the FCA made was that it needs to balance the concerns and the security of consumers against the wish to increase competition in the financial services sector and to encourage innovation,” he explained. A spokesperson from the FCA said: “Whilst the FCA does not regulate bitcoins, businesses providing services related to bitcoins, or other digital currencies, should consider whether they are carrying on regulated activities. As you would expect, the FCA does watch new developments in the market.” Banking issues Robinson thinks one of the main issues faced not only by digital currency businesses, but all money services companies, is that it’s very difficult to find a bank to work with. He said “The regulators’ current point of view is that it’s up to the banks – they can make a commercial decision not to work with a company. Although, companies at the meeting made the point that banks are making these ‘commercial decisions’ because of the regulatory framework imposed on them by the regulators. That framework should be changed.” BitPrice is currently lobbying, meeting with regulators and meeting with banks in an attempt to make it easier for UK-based bitcoin companies to gain bank accounts. UK Bitcoin Foundation Robinson is one of around six people who have been involved in creating the UK chapter of the Bitcoin Foundation. “We will follow the broad aims of the Bitcoin Foundation to protect, promote and standardise bitcoin with a focus on the UK. We will represent bitcoin businesses and users when they come up against regulators and the government,” he explained. The UK chapter’s board is now in place, but it is waiting for the foundation to explain exactly how the relationship between the two will work. |
|
|
|
I think this is going to annoy quite a few people who have outstanding orders. KnCMiner has cut the price of its mining rigs by as much as 28%, with the Saturn now on sale for $2,995 and the Jupiter for $4,995. The company also revealed today that the Mercury bitcoin hardware miner has been discontinued (this previously came with a price tag of $1,995). All orders placed from today will be delivered from mid-November, but existing orders will be shipped no later than 15th October. Sam Cole, co-founder of KnCMiner, said the company decided to cut the prices after covering its non-recurring engineering costs and deciding it would like to pass on the cost savings to its customers. When asked whether he thinks some of the company’s existing customers, who paid the higher price for their rigs, would be annoyed that the prices had been cut, he said: “There is a one-month shipping gap between the last order going out of the existing sales (15th October) and the new deliveries at the reduced price (mid-November) so we don’t think people will be too annoyed.” KnCMiner’s latest update said those who haven’t yet placed an order may still have the chance to get their hands on miners that are in the batch set for October delivery: “There currently exist a few unpaid orders which are marked for October delivery. If these orders remain unpaid, they will become available for purchase again, unless payment is received.
The devices will then be added back into our site on a daily bases. The same procedure will also be in place for refunded orders. So keep an eye on our site for any October deliveries.” It goes on to suggest existing customers will go to the top of the queue when the company releases new bitcoin mining devices. New slogan chosen to be printed on PCB KnCMiner’s original Mars PCBs carried the phrase: “Bitcoins make the world go around!”. Given this grammatical faux pas, the company decided to offer its followers on the BitcoinTalk forum the opportunity to choose the new slogan for its controller boards. On Friday (30th August), KnCMiner selected the winning slogan, which it hasn’t revealed yet. “We won’t release the winner or the slogan until we have the boards in hand. There are a few other nice surprises on the boards for you all to see when they ship,” Cole said. Here are some of the suggestions that KnCMiner liked, but didn’t quite make the cut: Commanderuk – Difficulties mastered are opportunities won.
600watt – Mine the Gap.
Kaerf – “The Times 03/Jan/2009 Chancellor on the brink of second bailout for banks”
The joint – where zeros and ones become heroes and fun.
The Avenger – “A dream you dream alone is only a dream. A dream you dream together is a reality” – John Lennon |
|
|
|
I am now sure if this is positive or negative but glad they are meeting at least. BITCOIN EXPERTS TO MEET REGULATORS AT TREASURY — Members of the Bitcoin Foundation, a nonprofit that includes software developers, industry reps and other experts in the digital currency, are expected to brief banking regulators and federal law enforcement officials at the Treasury Department today. Attendees are expected to include officials from the Treasury Department’s Financial Crimes Enforcement Network, the FBI, IRS, Federal Reserve, FDIC, OCC, Homeland Security Department and Secret Service. The meeting comes as regulators and Congress are trying to better understand the concepts behind Bitcoin and how digital currencies should be regulated.
“This is part of our ongoing dialogue with virtual currency operators within the U.S.,” Treasury spokesman John Sullivan said.
At Treasury, FinCEN has taken a lead role in the federal government’s response, releasing guidance in March to clarify rules around virtual currencies. The IRS is evaluating Bitcoin compliance issues following a June GAO report that recommended the agency issue guidance for taxpayers. |
|
|
|
I am not sure if this is real or not,but thought I'd let the community be the judge of RCM Miner's ASIC solution. |
|
|
|
Just thought I'd post this here before.Reportedly it is 100 GH that looks like BFL's offerings,lol. |
|
|
|
I was wondering if the new law in anyway might restrict users from getting Avalons as I don't know the complete details? WASHINGTON, April 6 (UPI) -- A new law limiting U.S. government purchases of technology systems from China could be "highly disruptive" and should be revised, the White House said.
The restriction was included in a temporary spending bill enacted by Congress and signed into law by President Barack Obama last week. It blocks NASA, the National Science Foundation and the Commerce Department from buying technology "produced, manufactured, or assembled," by companies connected to the Chinese government, The Hill newspaper reported Saturday.
It can be waived with approval from the FBI or another similar agency, the newspaper said.
White House spokeswoman Caitlin Hayden told The Hill in an email the language in the new law is unclear, making it difficult to implement.
"It could be highly disruptive without significantly enhancing the affected agencies' cybersecurity," Hayden said.
The law was intended to address concerns that the government of China may use equipment sold by Chinese businesses to spy on American businesses and individuals. Hayden said addressing those concerns would be better served by open dialogue between Washington and Beijing.
She said the White House will work with Congress to revise the law's language.
Several U.S. business interests have said the could disrupt federal agencies' ability to acquire such items as new computer systems, and could even result in China imposing similar restrictions on businesses acquiring equipment from U.S. companies, The Hill reported. |
|
|
|
I never thought of the concept that maybe potential Gold investors could be looking at BTC. (Note: This article assume some knowledge of the Cyprus Crisis, for more on that issue see my recent article here.)
By now everyone has heard about Cyprus, Italy, and the EU's continuing battle to hold itself together (which frankly reminds me a lot of Sisyphus and his perpetual struggle to roll a boulder up a hill, but that's another story). However, one surprising result of the increased attention to the EU has been the relatively muted response in gold (GLD) and gold miners like Goldcorp (GG), Newmont Mining (NEM), Barrick Gold (ABX), Yamana Gold (AUY), Kingross Gold (KGC), and a herd of other smaller miners.
Historically, gold and to a lesser extent silver and the gold miners have displayed a strong negative correlation with the rest of the market. On some of the worst days in 2008, virtually the only S&P 500 companies in the green were the gold miners. This negative correlation between gold/gold miners and the rest of the market was extremely valuable for investors because it enabled them to easily hedge their portfolio without having to take on short positions. The correlation coefficient between the gold miners and the broader stock market over the last 5 years is -0.68. (See my blog for a further discussion of correlation coefficients over time and using correlations in market hedging). Essentially this just reinforces the casual observation that when the markets are down, gold and the miners are up. OK, so chaos is good for safe haven assets like gold, so what's the problem?
I think there is something else happening to the price of gold; something that isn't yet widely discussed, and which affects the value of gold as an investment asset. Recently, a CNBC reporter was discussing gold and espoused the view that gold is no longer a safe haven asset. Instead, the reporter's view was that gold has become securitized and now deserves to be treated like a common ETF asset rather than a separate store of value. But if this is the case, what are people using as a safe haven asset instead? Well, I'll get to that in a minute, but first let's talk about the recent performance of gold and the miners |
|
|
|
I don't know if this is true or not but I found it interesting that they got tired of waiting for their ASICs. |
|
|
|
|
