The Week In Bitcoin - Apr 04 through Apr 10, 2011

[Stephen Gornick]

The Week In Bitcoin - Apr 04 through Apr 10, 2011


Saturday, Apr 9th, 2011

• Press: 2600 Magazine - The Hacker Quarterly
  How to Accept Payments Anonymously - A Digital Currency Guide
  - http://www.2600.com/news/view/article/12075
  - Kindle: http://www.amazon.com/gp/product/B004GB1WF6 $0.99 USD)
• New Bitcoin client project: BitcoinApp - for iOS devices (iPhone, iPad, iPodTouch)
  Acts as a client and communicates using RPC-JSON with bitcoind, which runs on a separate thread inside an App.  This has not yet been submitted to the App Store.
  - http://github.com/udibr/bitcoinApp
  - http://en.bitcoin.it/wiki/BitcoinApp
• Bitcoin Brasil cash exchange
  Rio-based cash exchange that trades between bitcoin and either Brazilian Reals (BRL) or USD.  The exchange rate is pegged to the market rate on Mt. Gox.
  - http://bitcoinbrasil.blogspot.com
  - http://en.bitcoin.it/wiki/Bitcoin_Brasil
• Nanaimo Gold adds automated exchange
  Trade between bitcoins and Liberty Reserve at the current market rates (as determined on Mt. Gox).  There are no fees when selling bitcoins for LR.  The only fee incurred when buying bitcoins is the 1% LR receive fee.
  - http://www.nanaimogold.com/bitcoin.php
• Bitcoin USA exchange closes
  The one-month old exchange Bitcoin USA announced that due to lack of interest in their service the exchange was closing.  The exchange cited their attempt to comply with anticipated regulation as the leading reason for the poor response to the launch.
  - http://bitcointalk.org/index.php?topic=5627.0
  - http://www.bitcoinmoney.com/post/4473693564

Friday, Apr 8th, 2011

• Wiki page update: Why a GPU mines faster than a CPU
  Added were two sections, “Short answer” and “Why are AMD GPUs faster than Nvidia GPUs?”.
  - http://en.bitcoin.it/wiki/Why_a_GPU_mines_faster_than_a_CPU
  - http://www.bitcoinminer.com/post/4445302233
• Article / Blog post:
  Ron Paul’s Free Competition in Currency Act by Vitalik Buterin in the Bitcoin Weekly
  Ron Paul argued, “if people are free to reject debased currency, and instead demand sound money, sound money will gradually return to use in society.”
  - http://bitcoinweekly.com/articles/ron-paul-s-free-competition-in-currency-act

Wednesday, Apr 6th, 2011

• Bitcoin Economy Snapshot
  1 BTC = $0.72 USD, Size: 5.85M BTC, Last 24h: 0.09M BTC in 1.9K trx, Difficulty: 82.3K, Forum posts/day: 736, Nodes: 1.5K
  - http://twitter.com/bitcoineconomy
• Article / Blog post:
  Bitcoin Presented to the Old World on DYNDY
  A report following genjix’s presentation at the EPCA conference in Amsterdam.
  “this crypto-cash system that seems to be here to stay”.
  - http://vimeo.com/22072121 (video, length 22 minutes)
  - http://www.dyndy.net/2011/04/bitcoin-presented-to-the-old-world
• Article / Blog post:
  K-Factor, the Viral Coefficient and Bitcoin on Bitcoin Money blog
  “Bitcoin is fuel to these people and they are the ones driving Bitcoin forward because nothing else comes even close in comparison to Bitcoin in serving their needs.”
  - http://www.bitcoinmoney.com/post/4394212060

Tuesday, Apr 5th, 2011

• Mt. Gox exchange now accepts Euro transfers via SEPA.
  No charge for adding funds this way.  Funds are credited as soon as they are received and converted to USD, at the raw ECB conversion rate.
  - https://www.mtgox.com
  - http://bitcointalk.org/index.php?topic=5461.0
• New site: BitLotto
  Payout is 99% of proceeds.  Each pick is 1 BTC.  Not for eWallet (e.g., MyBitcoin) users.
  - http://www.BitLotto.com
  - http://en.bitcoin.it/wiki/BitLotto
• “What is Bitcoin” video
  Bounty paid to the video’s producer: 8,511 BTCs (about $6,000 USD).
  In the first two weeks since release, the video has averaged more than 1,000 views per day.
  - http://WeUseCoins.com
  New version, in Russian:
  -   http://www.youtube.com/watch?v=IdWgvOxjYi8
• New Bitcoin market exchange: BitMarket.eu
  European markets: BTC/EUR, BTC/PLN (Polish złoty), and BTC/GBP (British Pound Sterling)
  Orders entered are matching is automated however payment (e.g., wire transfer) is then coordinated between buyer and seller.
  - http://www.BitMarket.eu
   - http://en.bitcoin.it/wiki/BitMarket.eu
• Service disruption with Bitcoin Central exchange
  Reports of bitcoins deposited not registering and a currency funding transaction not getting credited.
  - http://bitcointalk.org/index.php?topic=4228.msg79123#msg79123
• Article / Blog post:
  Bitcoin, the amazing new cryptocurrency, in lay terms by Erik Pukinskis
  - http://snowedin.net/blog/2011/04/05/bitcoin
• Liberty Reserve service resumes
  The outage lasted about 90 hours, including the performance issues resulting from getting swamped once they were back online.
  http://blog.libertyreserve.com/2011/04/liberty-reserve-is-back-up-solution-for.html
• New app: Miner Status
  A mobile app for Android that monitors the status of your miner. Requires access to a JSON data feed available through only one pool at the current time.
  - http://en.bitcoin.it/wiki/Miner_Status
• Press: Bitcoin article in Digital Gold Currency Magazine - April, 2011
  The monthly magazine includes Doctor Nefario’s article Anonymous Money Needs An Anonymous Exchange, which was initially published in February.
  Describes “a protocol that would allow a [bitcoin] exchange to run it’s operations in total secrecy and anonymity.”
  - http://www.dgcmagazine.com/PDF/39-Digital-Gold-Currency-Magazine-April-2011.pdf
• Press: Bitcoin mentioned in The Atlantic
  How to Start Your Own Private Currency by Derek Thompson
  “The good news about fiat is it allows us to create more money — trillions more —when the economy tanks.”
  “The only thing valuable about BitCoin is that there are other nerdy internet denizens that will accept it for payment for things”.
  - http://bit.ly/gPQYfm

Monday, Apr 4th, 2011

• s3052’s Bitcoin Market Analysis
  “If BTC/USD does not climb above $0.90 in the next 5 days, likelyhood is very high that we see a test of $0.50 in the next 1-2 months.”
  - http://bit.ly/g85WRG
  Earlier in the day:
  s3052’s market analysis “special update”
  Long-term: RALLY.
  Short-term: DOWN. “sell off to $0.60 may well be a break down that leads to downside acceleration towards the longterm uptrend line (currently around $0.50).”
  - http://bit.ly/hF9yPr
• Article / Blog post:
  The Economics of Cryptocurrency by Eli Dourado, Econ PhD student at GMU
  “Decentralization of the currency means that it cannot be debased, but it also means that it cannot be confiscated at an institutional level.”
  - http://elidourado.com/blog/economics-cryptocurrency
• Liberty Reserve outage persists.
  Announcement from Saturday asserted that service would be restored “before the end of the weekend”.
  Some relying on the currency are starting to worry:
  “Many short and medium term hyips will disappear because of this time-out.”
  - http://twitter.com/thinkpink63/statuses/54826258697162752
• Press: Gavin interviewed on EconTalk
  EconTalk is an award winning economics podcast show hosted by Russell Roberts, economics professor at GMU and writer.
  Russ commented: “I hope some of my colleagues will find this of interest.”
  - http://www.econtalk.org/archives/2011/04/andresen_on_bit.html
  - mp3
  - download: http://files.libertyfund.org/econtalk/y2011/Andresenbitcoin.mp3
  - Commentary:
  -   http://bit.ly/gZFRnN
  -   http://news.ycombinator.com/item?id=2406206

Got a news tip, suggestion or comment?
  http://www.bitcoinnews.com/submit

Current week (updated throughout each day):
  http://www.bitcoinnews.com   (RSS) (mobile) (email)

Previous summaries:
  http://www.bitcoinnews.com/archive  Follow on Twitter: @BitcoinNews

Each 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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[Stephen Gornick]

Re: The Week In Bitcoin - Apr 04 through Apr 10, 2011

Tuesday, Apr 5th, 2011

• Mt. Gox exchange now accepts Euro transfers via SEPA.
  No charge for adding funds this way.  Funds are credited as soon as they are received and converted to USD, at the raw ECB conversion rate.
  - https://www.mtgox.com
  - http://bitcointalk.org/index.php?topic=5461.0
• New site: BitLotto
  Payout is 99% of proceeds.  Each pick is 1 BTC.  Not for eWallet (e.g., MyBitcoin) users.
  - http://www.BitLotto.com
  - http://en.bitcoin.it/wiki/BitLotto
• “What is Bitcoin” video
  Bounty paid to the video’s producer: 8,511 BTCs (about $6,000 USD).
  In the first two weeks since release, the video has averaged more than 1,000 views per day.
  - http://WeUseCoins.com
  New version, in Russian:
  -   http://www.youtube.com/watch?v=IdWgvOxjYi8
• New Bitcoin market exchange: BitMarket.eu
  European markets: BTC/EUR, BTC/PLN (Polish złoty), and BTC/GBP (British Pound Sterling)
  Orders entered are matching is automated however payment (e.g., wire transfer) is then coordinated between buyer and seller.
  - http://www.BitMarket.eu
   - http://en.bitcoin.it/wiki/BitMarket.eu
• Service disruption with Bitcoin Central exchange
  Reports of bitcoins deposited not registering and a currency funding transaction not getting credited.
  - http://bitcointalk.org/index.php?topic=4228.msg79123#msg79123
• Article / Blog post:
  Bitcoin, the amazing new cryptocurrency, in lay terms by Erik Pukinskis
  - http://snowedin.net/blog/2011/04/05/bitcoin
• Liberty Reserve service resumes
  The outage lasted about 90 hours, including the performance issues resulting from getting swamped once they were back online.
  http://blog.libertyreserve.com/2011/04/liberty-reserve-is-back-up-solution-for.html
• New app: Miner Status
  A mobile app for Android that monitors the status of your miner. Requires access to a JSON data feed available through only one pool at the current time.
  - http://en.bitcoin.it/wiki/Miner_Status
• Press: Bitcoin article in Digital Gold Currency Magazine - April, 2011
  The monthly magazine includes Doctor Nefario’s article Anonymous Money Needs An Anonymous Exchange, which was initially published in February.
  Describes “a protocol that would allow a [bitcoin] exchange to run it’s operations in total secrecy and anonymity.”
  - http://www.dgcmagazine.com/PDF/39-Digital-Gold-Currency-Magazine-April-2011.pdf
• Press: Bitcoin mentioned in The Atlantic
  How to Start Your Own Private Currency by Derek Thompson
  “The good news about fiat is it allows us to create more money — trillions more —when the economy tanks.”
  “The only thing valuable about BitCoin is that there are other nerdy internet denizens that will accept it for payment for things”.
  - http://bit.ly/gPQYfm

Got a news tip, suggestion or comment?
  http://www.bitcoinnews.com/submit

Current week (updated throughout each day):
  http://www.bitcoinnews.com   (RSS) (mobile)

Previous weekly summaries:
  http://www.bitcoinnews.com/archive  Follow on Twitter: @BitcoinNews

[Stephen Gornick]

Re: The Week In Bitcoin - Apr 04 through Apr 10, 2011

Sorry for being inconsistent with updating this over the past week.  I couldn't devote enough time to follow everything going on over the past wek so if there is news that I've missed or any news that you think might be useful to others, please submit a news tip: http://www.bitcoinnews.com/submit

The most recent day's activity is always accessible at: http://www.bitcoinnews.com


Saturday, Apr 9th, 2011

• Press: 2600 Magazine - The Hacker Quarterly
  How to Accept Payments Anonymously - A Digital Currency Guide
  - http://www.2600.com/news/view/article/12075
  - Kindle: http://www.amazon.com/gp/product/B004GB1WF6 $0.99 USD)
• New Bitcoin client project: BitcoinApp - for iOS devices (iPhone, iPad, iPodTouch)
  Acts as a client and communicates using RPC-JSON with bitcoind, which runs on a separate thread inside an App.  This has not yet been submitted to the App Store.
  - http://github.com/udibr/bitcoinApp
  - http://en.bitcoin.it/wiki/BitcoinApp
• Bitcoin Brasil cash exchange
  Rio-based cash exchange that trades between bitcoin and either Brazilian Reals (BRL) or USD.  The exchange rate is pegged to the market rate on Mt. Gox.
  - http://bitcoinbrasil.blogspot.com
  - http://en.bitcoin.it/wiki/Bitcoin_Brasil
• Nanaimo Gold adds automated exchange
  Trade between bitcoins and Liberty Reserve at the current market rates (as determined on Mt. Gox).  There are no fees when selling bitcoins for LR.  The only fee incurred when buying bitcoins is the 1% LR receive fee.
  - http://www.nanaimogold.com/bitcoin.php
• Bitcoin USA exchange closes
  The one-month old exchange Bitcoin USA announced that due to lack of interest in their service the exchange was closing.  The exchange cited their attempt to comply with anticipated regulation as the leading reason for the poor response to the launch.
  - http://bitcointalk.org/index.php?topic=5627.0
  - http://www.bitcoinmoney.com/post/4473693564

Friday, Apr 8th, 2011

• Wiki page update: Why a GPU mines faster than a CPU
  Added were two sections, “Short answer” and “Why are AMD GPUs faster than Nvidia GPUs?”.
  - http://en.bitcoin.it/wiki/Why_a_GPU_mines_faster_than_a_CPU
  - http://www.bitcoinminer.com/post/4445302233
• Article / Blog post:
  Ron Paul’s Free Competition in Currency Act by Vitalik Buterin in the Bitcoin Weekly
  Ron Paul argued, “if people are free to reject debased currency, and instead demand sound money, sound money will gradually return to use in society.”
  - http://bitcoinweekly.com/articles/ron-paul-s-free-competition-in-currency-act

Wednesday, Apr 6th, 2011

• Bitcoin Economy Snapshot
  1 BTC = $0.72 USD, Size: 5.85M BTC, Last 24h: 0.09M BTC in 1.9K trx, Difficulty: 82.3K, Forum posts/day: 736, Nodes: 1.5K
  - http://twitter.com/bitcoineconomy
• Article / Blog post:
  Bitcoin Presented to the Old World on DYNDY
  A report following genjix’s presentation at the EPCA conference in Amsterdam.
  “this crypto-cash system that seems to be here to stay”.
  - http://vimeo.com/22072121 (video, length 22 minutes)
  - http://www.dyndy.net/2011/04/bitcoin-presented-to-the-old-world
• Article / Blog post:
  K-Factor, the Viral Coefficient and Bitcoin on Bitcoin Money blog
  “Bitcoin is fuel to these people and they are the ones driving Bitcoin forward because nothing else comes even close in comparison to Bitcoin in serving their needs.”
  - http://www.bitcoinmoney.com/post/4394212060

Got a news tip, suggestion or comment?
  http://www.bitcoinnews.com/submit

Current week (updated throughout each day):
  http://www.bitcoinnews.com   (RSS) (mobile) (email)

Previous weekly summaries:
  http://www.bitcoinnews.com/archive  Follow on Twitter: @BitcoinNews