★★DigiByte|极特币★★[DGB]✔ Core v6.16.5.1 - DigiShield, DigiSpeed, Segwit

[halinyo]

Volume seems to be picking up at Cryptsy!

YC

67 million buy order

[Kayahoga]

wow someone put a really big buy order in at 13 sat.  I hope they keep it there!

[ycagel]

Wow, you are right. I was talking about just executed volume.

YC

wow someone put a really big buy order in at 13 sat.  I hope they keep it there!

[ycagel]

75M buy order at 12 sat!

YC

[24hralttrade]

Hmm no announcement,  Not te right time.   17btc buy orders.
I think some investors want to step in.

[Arsenay]

I am beggar.. please donate.. DK7oWpxXaS8qtwg3M28aFrFCr7LxKj7vd4

1000 dgb
done ))

[ycagel]

Not the right time? What do you mean?

YC

Hmm no announcement,  Not te right time.   17btc buy orders.
I think some investors want to step in.

[yoyoamigo]

i smell rocket fuel...

[ycagel]

Might be a way to keep exchanges accountable.

What New FinCEN Guidance Means for US Bitcoin Companies

Faisal Khan (@babushka99) | Published on October 31, 2014 at 16:25 GMT   

Faisal Khan is a payments consultant and digital money evangelist. He is the co-host of Around the Coin, a weekly podcast on banking, money and payments, and is also the resident payments expert on Quora.

This article, which originally appeared on Faisalkhan.com, has been republished here with permission from the author.

US Treasury

On October 27, 2014, the Financial Crimes Enforcement Network (FinCEN) released new guidance for custodial bitcoin exchanges and payment processors, ruling that such companies may be considered money services businesses under US law.

The few days since then have been very hectic. Besides fielding calls from lots of people, everyone is asking the same question. What can a bitcoin company, operating in the US, now do to get back to business?

In the points below, I look at the most important issues facing bitcoin companies under the guidance and consider the options.
Are you affected by the ruling?

One of the first questions you have to ask yourself is, are you affected by the recent ruling? You may need to seek a legal opinion (or two, or three) and be quite certain about the direction the opinion leans towards. There will be two options:

    The ruling applies to you, get licensed
    The ruling does not apply to you

Do not rely on a single legal opinion, no matter how good he/she/they may be. At the risk of being blunt, it is times like these that law firms and attorneys juice their clients. Get a second and third opinion.
Does the ruling affect your current operations/plans?

Are you yet to go live or are you live? If you’re yet to go live, you have your fair share of work carved out for you. If you were live and engaged in commercial transactions, the ruling could mean problems for you. You may need to stop commercial transactions all together.

This can be devastating for some. If you have a large payroll to deal with, or monthly recurring is high, you may want to consider shedding the excess weight off until you get licensed.
Can you move operations overseas?

For some businesses, the option to move operations (or business) overseas and be able to continue, might just be possible. Just don’t expect to pick up transactions/clients from the US that easily.
How long does licensing take?

The answer is not so simple. On average, the 50 states will take you between one to three years. For a few states you might be able to secure licenses in three to five months, but then again, how many of your clients are walking about in Utah or North Dakota?

States like Illinois, New Jersey, Florida, Massachusetts, Pennsylvania, etc. hover between six to 10 months. Heavyweights like Texas, New York and California, easily a year to 18 months (if not more). For example, if California does view your application and finds out your audit has expired and requests a new one, that can easily extend the time.

For New York, you will have to get the 'BitLicense' when it comes out. California might offer its own BitLicense equivalent. Texas so far has no plans – or do they? One cannot be sure. They don’t advertise much. Everyone is playing the ‘wait and see’ game with how New York’s Department of Financial Services handles things.

Those who have applied for licenses, will testify that the process is brutal and frustrating at times – one that requires money and patience (in that order), and a little good luck.
What problems can one face?

No action by the regulator weeks after you submitted your application. Added delays. Audit report not acceptable. No commissioner to sign-off your application. Associate to go through your application not awarded. Missing information, please refile again. Missing fingerprints, please refile. Application being returned, please go through checklist as attached again (a lot of elements are not correct or missing).

Shampoo. Rinse. Repeat.

Then there are the highly important surety bond providers. Surety bond companies that the state regulators can work with is a small bunch – about 16 or so in total. You have to deal with their appointed agents, who then provide surety bonding to you. Because you are bitcoin, they may or may not decide to do business with you. If they all deny you (a very, very strong possibility) then you’re as good as dead.

Many states will not take any other form of a surety bond (like a certificate of deposit, cash, etc.) They all work in collusion. I have no fear in citing this. You’ll find out. There are some agents whom you should avoid like the plague, but then again, you will experience this yourselves.

Audits (security audits, financial audits) are a pain and cost a lot of money. Some will be outright rejected after the audit is done. Why? Because the person who conducted the audit is on the regulator’s s*** list. But they won’t tell you so. They’ll just re-word it and let you know that you need to find another auditor to work with.

Banking is also going to be one of your biggest woes. You’ll be hard pressed to find a bank that will work with you once they find out you are a licensed money transmitter. Even the bank accounts you have can be closed without warning. In fact, banking is one of the biggest challenges after licensing.

The pain points are many. Be prepared. Don’t say I didn’t tell you so.
How much money?

Plan on having lots of it. The whole licensing experience is all about spending a lot of money. Lawyers. Net Worth. Permissible Investments. Surety bonding. Insurance. Audits. Auditor fees. Specialists fees, etc.

If you have to raise this money, it will be difficult. Raising the necessary finance itself will add to the time period.
Can I become an authorized agent of an existing money transmitter license holder?

Sure you can. Theoretically this is possible. Practically, the value of a money transmitter license just went through the roof after the FinCEN ruling.

A couple of years ago, you would work with the like of Obopay (now it’s pretty much dead). PreCash isn’t doing anything in the bitcoin space. InComm will only make you an agent if you are promoting their products and that too is a sketchy ‘if’. Meracord won’t touch bitcoins. Large forex or money transfer companies that have money transmitter licenses will just not work with bitcoin companies.

You would be hard-pressed to find money transmitters in this space. One name I can provide that you can talk to is Megan Burton’s CoinX. She has licenses in 30-plus states for money transmission related to bitcoin.
Can I work with a nationwide chartered bank by OCC?

Sure you can. A nationally chartered bank by the OCC is exempt from money transmitter licenses, but then again, how many banks do you think would like to work with bitcoin-related companies?

If you find one. Hide it. Its a keeper. Don’t let anyone know.

The road to licensing is not easy. A few companies like CoinX had the vision to go and get licenses earlier on. Others were very sure of themselves based on the previous FinCEN ruling. Needless to say, the way things are right now, it seems clear the federal government has paved the way for states to declare you as money transmitters, and would not want you to pursue that path as well.

Its going to be tough. You will feel like giving up. You might just go broke. But don’t give up. There is light at the end of the tunnel.

Disclaimer: The views expressed in this article are those of the author and do not necessarily represent the views of, and should not be attributed to, CoinDesk.

Source: http://www.coindesk.com/new-fincen-guidance-means-us-bitcoin-companies/

[24hralttrade]

Not the right time? What do you mean?

YC

Hmm no announcement,  Not te right time.   17btc buy orders.
I think some investors want to step in.

Digibytes announcement & buy orders showing up

[HR]

57 Day Chart - DGB (and BTC equivalent) Daily Mining Proceeds for each 1 MH/s

Check out how your BTC equivalent proceeds have stayed constant – for a variety of reasons, but mainly because as price falls, mining falls, and difficulty falls, giving the miner more DGB rewards, and thusly keeping the BTC equivalent steady. Interesting observation I thought.

Overall heavy volume means that long term weak hands are being purged from the market and strong hands are taking advantage of that liquidation. It won’t last forever.

Hi YC

If you order 1 you will receive 1000 DGB.
I have bought 4 batches of 1000*1000 = 4000000 

Lawzt

How were you able to buy at that rate? Max order is 1000 DGB at once.

YC

Hi all

Great day to buy some DGB. Bought 4 Mil @ litebit.eu today only paid 178$   

@ Digibyte great news about DigiHash!! im testing it as we speak.

Regards

I just had a chat with litebit.eu how much Digibyte have been bought.

12.990.136 Digibytes in 24 orders
An average 541255 Digibytes each order.

This could be much more offcourse!
They have a great service and everything works really fine.

We need more promotion with Litebit.eu

This is a great idea! They seam to have a really solid service! We are updating the website some more to inform people on the best & easiest way to get DigiBytes.

I’ve dealt with them and have nothing but positive things to say. It’s a very serious and solid looking business.

https://www.cryptocoinsnews.com/400-european-banks-accept-bitcoin-purchase-agreement/

Maybe "old" news but it's interesting!


More European banks are becoming associated with Bitcoin. While short-term investors see the dollar price drop on Bitcoin, and panic sell in droves, Bitcoin gains another major international deal signing in Europe. 247Exchange.com, based out of Belize, has secured an agreement with Sofort Banking, providing Bitcoin purchasing access to over 22,000 European bank branches throughout the continent.


Now over 400 European Banks Allow Direct Bitcoin Purchases

euro banks accept bitcoinEuropean banks are now joining the list of major retailers already accepting Bitcoin directly. Now, Bitcoin is even easier to buy if you have a bank account in most European countries.  All you need is to be a member of one of the hundreds of banks, and you can buy not just Bitcoin, but many other crypto-currencies as well quickly, and easily.  This covers over 400 banks in ten countries (Germany, Austria, Switzerland, United Kingdom, Netherlands, Belgium, France, Italy, Spain, Poland). This will enable 99% of all banks in Germany to accept Bitcoin purchasing through 247Exchange.  Slovenia and Hungary banks are still to come as an addendum to this agreement.

247Exchange will take your order, and process it with your member European bank, with instant transactions that are completely secure and free for the sender.  Sofort AG is a merchant/banking conglomerate out of Munich, Germany that represents over 30,000 merchants and hundreds of banks through out Europe.


“Why do people choose our service? There are a lot of reasons. But mainly for its speed, fair fees and reliability. Purchasing bitcoins has never been so easy in Europe. However, the company’s aim is to create a comfortable exchange for all cryptocurrency users no matter where they are located and what currency they use.” says CEO Alexey Maximenko

This news dovetails with other international merchant agreements that give more people more access to Bitcoin worldwide.  For instance, Indonesia’s 238 million residents now have access to Bitcoin through a network of over 10,000 convenience stores in an agreement between Bitcoin.co.id and Indomaret last month.

My sense is that Europe is by far and away the most serious about crypto-currencies. Leaps and bounds beyond the rest of the world as far as mentality and acceptance goes.

We want to let everyone know the announcement we were planning for today has been delayed for a week do to circumstances out side of our control. Nothing bad, just timing, as well as market timing. We are working very hard on some cool projects! Stay tuned!

I'm fine with it. I thought the dev was sure he could make it but he said there is something outside of his control.

+1


ALSO:

I’ve got the original Myriad-Groestl srcxxx github optimized files if anyone is interesting in forking them - basically changing the name (since they’re open source to begin with) and then posting it to github. Send me a PM if you’re interested.


By the way, I’ve just passed the 12.5 million mark!

 

[ycagel]

HR,
 Always love your analysis! Great to hear you have accumulated so much! I definitely agree about weaker hands being pushed out. You are getting to the point where the downside risk is so limited based on price and upside potential is much higher.

Got to be happy about that!

YC

57 Day Chart - DGB (and BTC equivalent) Daily Mining Proceeds for each 1 MH/s

Check out how your BTC equivalent proceeds have stayed constant – for a variety of reasons, but mainly because as price falls, mining falls, and difficulty falls, giving the miner more DGB rewards, and thusly keeping the BTC equivalent steady. Interesting observation I thought.

Overall heavy volume means that long term weak hands are being purged from the market and strong hands are taking advantage of that liquidation. It won’t last forever.

Hi YC

If you order 1 you will receive 1000 DGB.
I have bought 4 batches of 1000*1000 = 4000000 

Lawzt

How were you able to buy at that rate? Max order is 1000 DGB at once.

YC

Hi all

Great day to buy some DGB. Bought 4 Mil @ litebit.eu today only paid 178$   

@ Digibyte great news about DigiHash!! im testing it as we speak.

Regards

I just had a chat with litebit.eu how much Digibyte have been bought.

12.990.136 Digibytes in 24 orders
An average 541255 Digibytes each order.

This could be much more offcourse!
They have a great service and everything works really fine.

We need more promotion with Litebit.eu

This is a great idea! They seam to have a really solid service! We are updating the website some more to inform people on the best & easiest way to get DigiBytes.

I’ve dealt with them and have nothing but positive things to say. It’s a very serious and solid looking business.

https://www.cryptocoinsnews.com/400-european-banks-accept-bitcoin-purchase-agreement/

Maybe "old" news but it's interesting!


More European banks are becoming associated with Bitcoin. While short-term investors see the dollar price drop on Bitcoin, and panic sell in droves, Bitcoin gains another major international deal signing in Europe. 247Exchange.com, based out of Belize, has secured an agreement with Sofort Banking, providing Bitcoin purchasing access to over 22,000 European bank branches throughout the continent.


Now over 400 European Banks Allow Direct Bitcoin Purchases

euro banks accept bitcoinEuropean banks are now joining the list of major retailers already accepting Bitcoin directly. Now, Bitcoin is even easier to buy if you have a bank account in most European countries.  All you need is to be a member of one of the hundreds of banks, and you can buy not just Bitcoin, but many other crypto-currencies as well quickly, and easily.  This covers over 400 banks in ten countries (Germany, Austria, Switzerland, United Kingdom, Netherlands, Belgium, France, Italy, Spain, Poland). This will enable 99% of all banks in Germany to accept Bitcoin purchasing through 247Exchange.  Slovenia and Hungary banks are still to come as an addendum to this agreement.

247Exchange will take your order, and process it with your member European bank, with instant transactions that are completely secure and free for the sender.  Sofort AG is a merchant/banking conglomerate out of Munich, Germany that represents over 30,000 merchants and hundreds of banks through out Europe.


“Why do people choose our service? There are a lot of reasons. But mainly for its speed, fair fees and reliability. Purchasing bitcoins has never been so easy in Europe. However, the company’s aim is to create a comfortable exchange for all cryptocurrency users no matter where they are located and what currency they use.” says CEO Alexey Maximenko

This news dovetails with other international merchant agreements that give more people more access to Bitcoin worldwide.  For instance, Indonesia’s 238 million residents now have access to Bitcoin through a network of over 10,000 convenience stores in an agreement between Bitcoin.co.id and Indomaret last month.

My sense is that Europe is by far and away the most serious about crypto-currencies. Leaps and bounds beyond the rest of the world as far as mentality and acceptance goes.

We want to let everyone know the announcement we were planning for today has been delayed for a week do to circumstances out side of our control. Nothing bad, just timing, as well as market timing. We are working very hard on some cool projects! Stay tuned!

I'm fine with it. I thought the dev was sure he could make it but he said there is something outside of his control.

+1


ALSO:

I’ve got the original Myriad-Groestl srcxxx github optimized files if anyone is interesting in forking them - basically changing the name (since they’re open source to begin with) and then posting it to github. Send me a PM if you’re interested.


By the way, I’ve just passed the 12.5 million mark!

 

[ReSl]

ALSO:

I’ve got the original Myriad-Groestl srcxxx github optimized files if anyone is interesting in forking them - basically changing the name (since they’re open source to begin with) and then posting it to github. Send me a PM if you’re interested.

Hi HR, thank you for keeping us up to date with your stats. I will have a look on the original Myriad-Groestl srcxxx optimized bins. I thougt these bins only work on his pool. Maybe i can change this to get it work on every pool. Since difficulty is dropping again i could be profitable again to put a bit more power to my cards.

[ReSl]

To get DGB in front we should work with them in advanced to get DigiByte-USD Exchange also available for EU.
http://www.coindesk.com/fidor-kraken-digital-currency-banking/
https://www.cryptocurrency-bank.com/#form

I can be there on the event.
BE THERE: WORKSHOP ON
DECEMBER 15th/16th IN MUNICH

Please let me know whats the plan with DigiByte - USD Exchange and if you are interesst to get involved as:

Investor
You are keen on supporting this initiative by becoming a founding investor? Contact us and let us know what you are willing to contribute in cash. We will then in a next step discuss possible ways of taking external shareholders on board.

Service partner
You offer any kind of cryptocurrency service or product and want to make this service to be deeply integrated in our cryptocurrency bank initiative? Then contact us and tell us as much as possible about your service. Please also note the checklist for prospective service partners.

Operations/Co-worker
You want to support us in making this happen by supporting the operations with your time, manpower, or any other contribution? You are a cryptocurrency enthusiast or have an excellent network in the community? Contact us, join the crew and shape the future of our initiative.

See Ya

[mison]

I am beggar.. please donate.. DK7oWpxXaS8qtwg3M28aFrFCr7LxKj7vd4

1000 dgb
done ))

thank you kind sir! 

[HR]

ALSO:

I’ve got the original Myriad-Groestl srcxxx github optimized files if anyone is interesting in forking them - basically changing the name (since they’re open source to begin with) and then posting it to github. Send me a PM if you’re interested.

Hi HR, thank you for keeping us up to date with your stats. I will have a look on the original Myriad-Groestl srcxxx optimized bins. I thougt these bins only work on his pool. Maybe i can change this to get it work on every pool. Since difficulty is dropping again i could be profitable again to put a bit more power to my cards.

He originally developed two different optimized kernels that significantly increased hashrates over the previous sph-sgminer ( https://github.com/prettyhatemachine/sph-sgminer ). His miner, grs-sgminer, allowed you to use the "-k groestlcoin" switch on any pool, or the "-k optimized" switch that only worked on his pool.

My understanding is that he depreciated the github files for his original grs-sgminer that allowed you to use either switch. I could be mistaken though, but the idea that I have is that his current grs-sgminer only works with his proprietary "-k optimized" switch. If that's the case, then I think it would be interesting to fork his original grs-sgminer making available new installs once again that permit the use of any of the non-optimized kernels on any pool of the miner's choosing (grs-sgminer, using the "-k myriadcoin-groestl" switch, more than doubles the hashrate of sph-sgminer with only about a 20% increase in electrical usage - not bad at all).

https://bitcointalk.org/index.php?topic=652849.msg7503640#msg7503640

https://bitcointalk.org/index.php?topic=652849.0

[ycagel]

Lot of buy support building at 14-15 SAT! Nice to see some of the weaker hands being pushed out.

YC

[ycagel]

11 BTC of volume in the past 24 hrs for DGB!

YC

[DigiByte]

ALSO:

I’ve got the original Myriad-Groestl srcxxx github optimized files if anyone is interesting in forking them - basically changing the name (since they’re open source to begin with) and then posting it to github. Send me a PM if you’re interested.

Hi HR, thank you for keeping us up to date with your stats. I will have a look on the original Myriad-Groestl srcxxx optimized bins. I thougt these bins only work on his pool. Maybe i can change this to get it work on every pool. Since difficulty is dropping again i could be profitable again to put a bit more power to my cards.

He originally developed two different optimized kernels that significantly increased hashrates over the previous sph-sgminer ( https://github.com/prettyhatemachine/sph-sgminer ). His miner, grs-sgminer, allowed you to use the "-k groestlcoin" switch on any pool, or the "-k optimized" switch that only worked on his pool.

My understanding is that he depreciated the github files for his original grs-sgminer that allowed you to use either switch. I could be mistaken though, but the idea that I have is that his current grs-sgminer only works with his proprietary "-k optimized" switch. If that's the case, then I think it would be interesting to fork his original grs-sgminer making available new installs once again that permit the use of any of the non-optimized kernels on any pool of the miner's choosing (grs-sgminer, using the "-k myriadcoin-groestl" switch, more than doubles the hashrate of sph-sgminer with only about a 20% increase in electrical usage - not bad at all).

https://bitcointalk.org/index.php?topic=652849.msg7503640#msg7503640

https://bitcointalk.org/index.php?topic=652849.0

HR,

We would love to have a link to the original source. We have been looking into this & we have someone who can break it down even farther for us. Right now groestlmyriad is the weakest of the five DigiByte algos. We need to get it sorted out and more mining pools online.

Thanks for sharing this!

[MaxDZ8]

As a side note, new kernels for Groestl-MYR are in the works here for a while.
They were supposed to be released by the half of this month but due to hardware failure, they will likely be pushed over.