Friday, Apr 29th, 2011- Mining difficulty adjust to level that exceeds 100,000
Landed at 109,670 — an 18.75% increase in just under 12 days.
“Calculations for the next adjustment indicate continued rapid growth”.
- http://www.bitcoinminer.com/post/5062580829 - Podcast:
Cypherpunkd Global Bitcoin Stock Exchange and Bitdrop by Hiro White on AgoristRadio.com
Interviewed is longtime Bitcoin community member Nefario who discusses GLBSE, an equities exchange powered by Bitcoins.
- http://agoristradio.com/?p=285 (length: 1 hour, 36 minutes) - Podcast: (from earlier this past week)
Cypherpunkd “Bitcoin Mania Part 2” - The Bitcoin API by Hiro White on AgoristRadio.com
Interviewed is mids who describes integrating with Bitcoin through the API using XMLRPC-JSON, programming a shopping cart, and much more.
- http://agoristradio.com/?p=263 (length: 1 hour) - First DNS server supporting censorship-resistant .bit top level domain (TLD) appears
The first DNS servers configured to support namecoin (.bit) domains are coming online. (e.g., 178.32.31.41). Namecoin is built using peer-to-peer concepts and technology pioneered by Bitcoin.
“The future of DNS starts now.”
- http://bitcointalk.org/index.php?topic=6793.0 - Press: Bitcoin mention on CNN.com blog
4 trends shaping the emerging “superfluid economy” by @VenessaMiemis
“On the fringes of society exists the complementary currency market”.
”[…] it’s reasonable to expect a serious challenge to the ingrained public perception of money.”
- http://bit.ly/k2Mruh
Got a news tip, suggestion or comment? http://www.bitcoinnews.com/submitCurrent week (updated throughout each day): http://www.bitcoinnews.com ( RSS) ( mobile) ( email) Previous summaries: http://www.bitcoinnews.com/archive Follow on Twitter: @BitcoinNews
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Thursday, Apr 28th, 2011- s3052’s Bitcoin Market Technical Analysis
“The forecast is even more than 'on track'.”
Long term: “If [stays below trendline] we still continue the overall channel uptrend, but in a more normal pace.”
Short term: “A break below 2.20 $ can lead to a test of old resistance and new support of $1.95 – $2.00. Next support then is the $1.60 – $1.70 area.”
- http://bit.ly/mbXsaQ - Bitcoin exchange Mt. Gox prepares to accept Dwolla as funding method
Dwolla is an ACH-based payment network in the U.S. Withdrawal of funds to Dwolla will also be made possible. Dwolla charges $0.25 per transaction. - Custom pool server produces split allocation of generation reward
A new mining pool introduced the ability to split the generation reward (currently 50 BTC per block) into multiple allocations. This allows those mining in the pool to receive their payouts immediately. Block 120,630 was the first block generated in this manner.
- http://bitcointalk.org/index.php?topic=6667.0
- http://blockexplorer.com/b/120630
Got a news tip, suggestion or comment? http://www.bitcoinnews.com/submitCurrent week (updated throughout each day): http://www.bitcoinnews.com ( RSS) ( mobile) ( email) Previous summaries: http://www.bitcoinnews.com/archive Follow on Twitter: @BitcoinNews
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the prices are currently around $1.72. There is a single bid totalling $27.82 at that price, currently. The next closest bids after that are closer to what can be found on other markets: http://bitcoin2cash.com/orders.php |
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If I load 100 bitcoins into my account at mtgox, sold them all at $1.00, and went through all the steps to get cash dollars in my hand, how many dollars would I have? After trading your 100 bitcoins at $1.00 (which, is about 60% below market value, by the way), the result would $99.35 added to your "USD" balance in your Mt. Gox account. If you then wish to withdraw those USDs, there are a number of ways to do so. Bitcoin is a global currency, however it is still a young project. Going the route using Liberty Reserve is for when it is not easy to convert bitcoins to a currency of your choice. For small amounts (such as this $99.35 amount) the fees in doing so are high. Consider Liberty Reserve as the "intermediary of last resort". There are alternatives to using Liberty Reserve that might be better. The options are described in the wiki: http://en.bitcoin.it/wiki/MtGox#Withdrawing_FundsHere are options using your example of 100 BTC sold at $1.00: Directly from Mt. Gox you have three options: http://www.mtgox.com/users/withdraw1.) If you bank in the U.S., there is the ability to withdraw those funds as an ACH (without any fee even), however the minimum for that withdrawal is $800. 2.) If your bank is in the SEPA zone (Europe) then can withdraw your funds as EUR. Your $99.35 USD is converted to EUR less a 2% fee (minimum fee is 0.35€). 3.) Withdraw as Liberty Reserve. You will lose about 2% by the time the funds are in your Liberty Reserve account. From there, there are many many options. There are exchangers who will convert Liberty Reserve to almost any currency in the world. The fees are high, but it can be done. Here's are two such exchanges: Nanaimo Gold http://en.bitcoin.it/wiki/Nanaimo_Gold (They'll even send Western Union and Moneygram funded using Bitcoins directly or using Liberty Reserve). A second example is AurumXchange http://en.bitcoin.it/wiki/AurumXchange_CompanyThere is another method however. Your funds in Mt. Gox are in demand by others. On the #bitcoin-otc marketplace, there is no shortage of willing and able buyers who want your Mt. Gox funds (referred to as "MTGUSD", for Mt. Gox USD). http://bitcoin-otc.com/vieworderbook.php?sortby=buysell&eitherthing=MTGUSD The fees vary per-offer, but using your $99.35 example, here's a typical trade for that: A trader offers to buy using PayPal at 0.99 (meaning a 1% fee). So after transferring your Mt. Gox funds to that trader, you would receive in your PayPal account $98.35 USD. Of course, because PayPal transactions can be reversed at a later time, you should only trade with parties you trust. To help determine which parties can be trusted, you might use the #bitcoin-OTC's web of trust system: http://bitcoin-otc.com/trust.phpIncidentally, Dwolla is a "cash" transaction network (funds added and withdraw are ACH transactions) so as a result Dwolla has no exposure to credit card chargebacks. Your example specifically addressed selling bitcoins on Mt. Gox and then withdrawing those funds. There are other alternatives as well. You might find someone willing to trade with you, for cash, locally: Bitcoin.local: http://www.TradeBitcoin.com Look for a green dot (exchange) on The Bitcoin Map collaborative project: http://www.BitcoinMap.com (or add a "Red" marker for yourself) And, of course, perhaps your bitcoins would buy a product or service that you want: http://en.bitcoin.it/wiki/Tradetl;dr: To sell a small number of bitcoins, just use CoinCard: http://coincard.ndrix.com You'ld get about $98.75 USD in your PayPal for those 100 BTC (if the market rate were still $1.00) and it takes just minutes. |
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Wednesday, Apr 27th, 2011- Article / Blog post: Mining Guide for Windows
Earn $ with your GPU; a Bitcoin mining guide on Overclock.net
Includes caveat: “Unless you get free electricity you will likely lose money”.
- http://bit.ly/jGGYhj - Bitcoin receives attention re: Gavin’s upcoming trip to D.C.:
Bitcoin technical lead Gavin Andresen will “give a presentation about Bitcoin at an emerging technologies conference for the [CIA] US intelligence community”.
- http://bitcointalk.org/index.php?topic=6652.0 - Article / Blog post:
The Bitcoin Bubble by Ploum
“Like every speculative bubble, it inflates, it inflates until someone wakes up one morning and thinks: ‘What am I doing? I’ve spent all my savings into virtual mathematical objects! Let’s sell that quickly’.”
- http://ploum.net/post/bitcoin-bubble - Newest version of Bitcoin client released, v0.3.21
- Universal Plug and Play (UPnP), off by default
- Sending and displaying full precision (e.g. 1.0001)
- SendMany RPC support (make multiple payments in one trx)
- Bug fixes, including a fix for the deadlock issue.
- https://sourceforge.net/projects/bitcoin/files/Bitcoin/bitcoin-0.3.21
- http://bitcointalk.org/index.php?topic=6642.0 - Bitcoin exchange CoinCard reduces price for “cashing out”
When selling bitcoins through CoinCard, the fee has been reduced to $1 + 1.25% for amounts sold of $50 or more. Proceeds are delivered through PayPal.
- http://coincard.ndrix.com/page/prices
- http://bitcointalk.org/index.php?topic=3874.msg95925#msg95925 - Bitcoin currency added to exchange: VirWox
Those with Second Life accounts can now directly buy and sell Bitcoins using Lindens (Second Life’s virtual currency) through the BTC/SLL market at VirWox.
- http://www.virwox.com/market_depth.php?instr=11
- http://en.bitcoin.it/wiki/VirWoX - Online poker site betco.in, powered with Bitcoins, reopens
Following a hack attempt the site has reopened with multiple tables, better performance.
- http://betco.in - Plato’s #BitcoinRoadTrip update:
- In Huntsville, AL. 1800 miles traveled so far. Presentation at UAH.
- http://therealplato.com/post/4980791972 - New site: BitcoinID
A Bitcoin address ownership verification method.
“Potential donors can view the bitcoinID Card of an individual or organization on bitcoinID.com.” “The donation can be sent to the bitcoin address with confidence that it will be delivered to the intended recipient”.
- http://bitcoinid.com
- http://en.bitcoin.it/wiki/BitcoinID
Got a news tip, suggestion or comment? http://www.bitcoinnews.com/submitCurrent week (updated throughout each day): http://www.bitcoinnews.com ( RSS) ( mobile) ( email) Previous summaries: http://www.bitcoinnews.com/archive Follow on Twitter: @BitcoinNews
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Is there something that could be the basis for bitcoin numizmatics? Maybe some palindrome hash or something?
There were two threads related to this: - http://bitcointalk.org/index.php?topic=581.0 - http://bitcointalk.org/index.php?topic=4573.0A wallet.dat with bitcoins generated early, never spent, and no transactions other than the coins generated would be valuable. Assuming you didn't mine it yourself then it would also be extremely risky to own as you would not really know if the party that you bought the .dat from didn't save a duplicate and wouldn't ever spend your collectible asset. The next best, I suppose would be an early generation with just a single spend, from the original generation to your current wallet. Thare are special generated coins: Obviously, the genesis block but also the generated bitcoins from blocks at the milestones 10, 100, 1000, 1,000,000, 5,000,000, and then the blocks at certain difficulty jumps might be valued, etc. Who knows. Another angle might be if the spend was from a bitcoin that had some notable history. For instance, the first coin received by a wallet running on an Android phone, for instance. |
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Catherine Eagleton is the Curator of Modern Money at the British Museum.
Just to followup, I had written to her to see if she was aware of Bitcoin. Her response: From: CEAGLETON
Re: RE: Digital Currency - Bitcoin
Thank you for your email - digital money and future currencies are a particular area of interest for me, and I know a little about Bitcoin. I was inte
rested to learn that there are plans to develop a physical version of it, and would be very keen to get some specimens for the museum's collection, if you might be able to put me in touch with the relevant people?
With best wishes, and I hope you enjoy the book,
Catherine Eagleton
Her book: http://www.amazon.com/Money-History-Catherine-Eagleton/dp/1554072824 |
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Sunday, May 1st, 2011- Press: Capital.BG (Weekly newspaper in Bulgaria)
Торент валута (Torrent Currency) by Andrian Georgiev
Assuming Google Translate did a fairly accurate job in translation, this was an article that gives a typical general overview of Bitcoin. What was interesting were the comments — sentiment by those who don’t yet understand Bitcoin is the same worldwide:
“Banks and government will strangle the idea.”
”Without a central guarantor of these they are very risky.”
- http://bit.ly/jwK81b (in Bulgarian) - New IRC channel, #bitcoin-pit (“business only” trading pit)
- http://wiki.bitcoin-otc.com/wiki/Bitcoin-pit
- http://webchat.freenode.net/?channels=#bitcoin-pit - Update on Plato’s #BitcoinRoadTrip (Alabama)
Tornadoes in Alabama have waylayed @TheRealPlato after his presentation on Bitcoin at UAH (Huntsville). He is assisting with the cleanup before continuing west on his cross-country journey. Over 100 BTC were donated to the Tornado relief fund.
- http://bitcointalk.org/index.php?topic=6752.msg101417#msg101417
- http://twitter.com/therealplato @TheRealPlato - Bitcoin’s leading exchange, Mt. Gox, resumes service after brief downtime
The DDoS attack that brought the service to its knees on Saturday evening, early Sunday had subsided “subsided a bit” so the service was brought back online after only a few hours of downtime. The BTC/USD market rate following the restart bounced around from as low as $2.50 and as high as $3.80 before settling towards the middle of that range.
The exchange still plans to move to a network that has improved DDoS protection.
- http://bitcointalk.org/index.php?topic=6931.0 - Press: The Washington Post (online and print edition [Saturday’s issue apparently … ?])
Imagining a world without the dollar by Barry Eichengreen
“There have already been some attempts to create a true electronic currency, such as Bitcoin.”
“Nothing would ensure that the electronic money you accumulate would hold its value, and nothing would prevent the operators of the platform from issuing more.” [The author was likely describing electronic currency in general and not Bitcoin, which has protections from that occurance, specifically.]
- http://wapo.st/lmhaww - Article / Blog post:
Could virtual currency become king in developing countries? by Brendan Burge on ATM Marketplace
“In developing countries [people] are making a living by performing ‘micro-tasks’ in the virtual economy.”
“PayPal, Google, BitCoin and others offer or soon will offer accounts that do not require traditional legacy backing from credit cards or other ‘hard currency’ accounts.”
- http://www.atmmarketplace.com/blog/5628 - First Bitcoin-related exchange to use a new variant of digital currency.
Though this editor originally believed this topic to be a hoax, there is apparently yet another currency using bitcoin technology being experimented with. Details are sketchy yet but this variant skips the gradual issuance of new currency and instead begins with all coins already minted and issued to a “bank”.
- http://exchange.surething.biz
Saturday, Apr 30th, 2011- Bitcoin’s leading exchange, Mt. Gox, retreats following DDoS attack
“Temporary shutdown” until the appropriate protections [are in place]”.
Service will resume once a new server is operational on a network with defenses against further distributed denial-of-service attacks.
- http://bitcointalk.org/index.php?topic=6931.0 - Exchange Nanaimo Gold offers automated exchange between HD-Money and Bitcoin
HD-Money (HDM) is a private digital currency alternative along the same lines as Liberty Reserve and payments made are irreversible.
- http://www.nanaimogold.com/hdm_exchange.php - CoinPal exchange ends service following action by PayPal
CoinPal, the primary where PayPal could be used for payment of purchases of bitcoins has closed.
“PayPal’s Acceptable Use Policy specifically states that the service may not be used for a money service business that performs currency exchange activities”.
- http://www.bitcoinmoney.com/post/5086167006 - Bitcoin service BitcoinLaundry.com reduces fee
The fee for the service to mix bitcoins with those from others has been reduced from 1% to 0.5%.
“Compared to the traditional financial systems this service might be the equivalent of moving funds through banks located in countries that have strict bank-secrecy laws.”
- http://bitcoinlaundry.com
- http://en.bitcoin.it/wiki/Bitcoin_Laundry - Archive containing block chain (through block 120,000) released:
Minimizes delay for downloading transaction data when performing a first-time installation. 152MB download file contains all transactions since January 2009 when Bitcoin genesis block was created.
- http://sourceforge.net/projects/bitcoin/files/Bitcoin/blockchain - United States: Virtual Currency -The Legal Issues Are A Reality by Kobus and Schurko of Marshall Dennehey law office.
“An issuer of virtual currency [might be considered] a “financial institution” for the purposes of the PATRIOT ACT by virtue of creating and managing customer virtual currency [eWallet] accounts.”
- http://www.mondaq.com/unitedstates/article.asp?articleid=130736
Friday, Apr 29th, 2011- Mining difficulty adjust to level that exceeds 100,000
Landed at 109,670 — an 18.75% increase in just under 12 days.
“Calculations for the next adjustment indicate continued rapid growth”.
- http://www.bitcoinminer.com/post/5062580829 - Podcast:
Cypherpunkd Global Bitcoin Stock Exchange and Bitdrop by Hiro White on AgoristRadio.com
Interviewed is longtime Bitcoin community member Nefario who discusses GLBSE, an equities exchange powered by Bitcoins.
- http://agoristradio.com/?p=285 (length: 1 hour, 36 minutes) - Podcast: (from earlier this past week)
Cypherpunkd “Bitcoin Mania Part 2” - The Bitcoin API by Hiro White on AgoristRadio.com
Interviewed is mids who describes integrating with Bitcoin through the API using XMLRPC-JSON, programming a shopping cart, and much more.
- http://agoristradio.com/?p=263 (length: 1 hour) - First DNS server supporting censorship-resistant .bit top level domain (TLD) appears
The first DNS servers configured to support namecoin (.bit) domains are coming online. (e.g., 178.32.31.41). Namecoin is built using peer-to-peer concepts and technology pioneered by Bitcoin.
“The future of DNS starts now.”
- http://bitcointalk.org/index.php?topic=6793.0 - Press: Bitcoin mention on CNN.com blog
4 trends shaping the emerging “superfluid economy” by @VenessaMiemis
“On the fringes of society exists the complementary currency market”.
”[…] it’s reasonable to expect a serious challenge to the ingrained public perception of money.”
- http://bit.ly/k2Mruh
Thursday, Apr 28th, 2011- s3052’s Bitcoin Market Technical Analysis
“The forecast is even more than 'on track'.”
Long term: “If [stays below trendline] we still continue the overall channel uptrend, but in a more normal pace.”
Short term: “A break below 2.20 $ can lead to a test of old resistance and new support of $1.95 – $2.00. Next support then is the $1.60 – $1.70 area.”
- http://bit.ly/mbXsaQ - Bitcoin exchange Mt. Gox prepares to accept Dwolla as funding method
Dwolla is an ACH-based payment network in the U.S. Withdrawal of funds to Dwolla will also be made possible. Dwolla charges $0.25 per transaction. - Custom pool server produces split allocation of generation reward
A new mining pool introduced the ability to split the generation reward (currently 50 BTC per block) into multiple allocations. This allows those mining in the pool to receive their payouts immediately. Block 120,630 was the first block generated in this manner.
- http://bitcointalk.org/index.php?topic=6667.0
- http://blockexplorer.com/b/120630
Wednesday, Apr 27th, 2011- Article / Blog post: Mining Guide for Windows
Earn $ with your GPU; a Bitcoin mining guide on Overclock.net
Includes caveat: “Unless you get free electricity you will likely lose money”.
- http://bit.ly/jGGYhj - Bitcoin receives attention re: Gavin’s upcoming trip to D.C.:
Bitcoin technical lead Gavin Andresen will “give a presentation about Bitcoin at an emerging technologies conference for the [CIA] US intelligence community”.
- http://bitcointalk.org/index.php?topic=6652.0 - Article / Blog post:
The Bitcoin Bubble by Ploum
“Like every speculative bubble, it inflates, it inflates until someone wakes up one morning and thinks: ‘What am I doing? I’ve spent all my savings into virtual mathematical objects! Let’s sell that quickly’.”
- http://ploum.net/post/bitcoin-bubble - Newest version of Bitcoin client released, v0.3.21
- Universal Plug and Play (UPnP), off by default
- Sending and displaying full precision (e.g. 1.0001)
- SendMany RPC support (make multiple payments in one trx)
- Bug fixes, including a fix for the deadlock issue.
- https://sourceforge.net/projects/bitcoin/files/Bitcoin/bitcoin-0.3.21
- http://bitcointalk.org/index.php?topic=6642.0 - Bitcoin exchange CoinCard reduces price for “cashing out”
When selling bitcoins through CoinCard, the fee has been reduced to $1 + 1.25% for amounts sold of $50 or more. Proceeds are delivered through PayPal.
- http://coincard.ndrix.com/page/prices
- http://bitcointalk.org/index.php?topic=3874.msg95925#msg95925 - Bitcoin currency added to exchange: VirWox
Those with Second Life accounts can now directly buy and sell Bitcoins using Lindens (Second Life’s virtual currency) through the BTC/SLL market at VirWox.
- http://www.virwox.com/market_depth.php?instr=11
- http://en.bitcoin.it/wiki/VirWoX - Online poker site betco.in, powered with Bitcoins, reopens
Following a hack attempt the site has reopened with multiple tables, better performance.
- http://betco.in - Plato’s #BitcoinRoadTrip update:
- In Huntsville, AL. 1800 miles traveled so far. Presentation at UAH.
- http://therealplato.com/post/4980791972 - New site: BitcoinID
A Bitcoin address ownership verification method.
“Potential donors can view the bitcoinID Card of an individual or organization on bitcoinID.com.” “The donation can be sent to the bitcoin address with confidence that it will be delivered to the intended recipient”.
- http://bitcoinid.com
- http://en.bitcoin.it/wiki/BitcoinID
Tuesday, Apr 26th, 2011Monday, Apr 25th, 2011- s3052’s Bitcoin Market Technical Analysis (short term update #2)
Short term: “Looking like a bull flag”. “Break above $1.57 - $1.60 will likely mark the start of the next rally to and above $2.”.
- http://bit.ly/dIDcWs - Bitcoin poker site hacked, funds withdrawn
Online poker site betco.in suffered a 1,390 BTC loss and downtime resulting from theft after a security breach. The site’s owner kept a reserve for losses and all players were allowed to withdraw their balances in full. The service has since been taken offline for maintenance.
The addresses for the stolen coins were publicly disclosed though with Bitcoin being a pseudonymous digital currency, that likely won’t help much towards recapture of the funds.
- http://bitcointalk.org/index.php?topic=840.msg93927#msg93927 - Article / Blog post:
Bitcoin Poker by Tom Collins
Describes the history of online poker, the passage of the UIGEA and the subsequent reaction by the industry, the players and enforcement with the recent actions that shut down the popular poker website domains.
- http://bitcoinweekly.com/articles/bitcoin-poker - Recent additions to Bitcoin Merchant Directory / Trade wiki article:
- http://www.memorydealers.com Networking hardware online store
- http://etfett.net 3D printing service and printed output goods
- http://stamit.gr/bnc4btc IRC bouncer (BNC) service
- http://www.chessmaniac.com Online chess playing community
- http://www.ottonormalo.de Postcard artisan
- http://www.ayarikubazar.com Jewelry ecommerce (uses MyBitcoin shopping cart interface)
There are numerous other recent additions including freelancers, online gambling and organizations accepting bitcoins as donations.
- http://en.bitcoin.it/wiki/Trade - s3052’s Bitcoin Market Technical Analysis (short term update)
Short term: “Consolidating, looking like a bull flag with breakout to the upside more likely.”
- http://bit.ly/gLHXii
Have a news tip, suggestion or comment? http://www.bitcoinnews.com/submitCurrent week (updated throughout each day): http://www.bitcoinnews.com ( RSS) ( mobile) ( email) Previous summaries: http://www.bitcoinnews.com/archive Follow on Twitter: @BitcoinNewsEach day I will post a reply with the previous day's summary, and will update this specific post to include each daily summary as well.
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USAA bank will let you add a link to an account (ABA routing # + Account number) of which you do not have signature authority (i.e., where you can only make deposits).
The only problem is that the "add account" process will send a deposit of some nominal, random amount and you need to know that amount in order to verify the deposit. I don't think they intended for it to be used in this manner (as a substitute for ACH push to a merchant), however if Mt. Gox would provide to you the amount of that initial deposit then I don't know how USAA would know or care that it was used for this purpose.
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