Monthly Archives: November 2013

Bitcoin a perfect currency, says Chinese investor

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“The former chief technology officer of the Chinese-language online social reading platform Docin, Xu Mingxing, believes bitcoin ‘is a social experiment.’ He is willing to risk losses by investing in the currency, he said.  Xu says he began buying bitcoins in 2012, when one bitcoin was valued at less than US$20. ‘In September this year, the exchange rate of one bitcoin surged to US$900.’  Admitting he began his bitcoin investment on speculation and with the intention of experimenting with them, Xu remarked that he now believes bitcoins are a democratic currency, or a perfect currency in the real world.”

http://www.wantchinatimes.com/news-subclass-cnt.aspx?id=20131119000017&cid=1202

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Bitcoin Could be Regulated as a Commodity: Senate Banking Hearing

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“BitPay CEO Tony Gallippi also presented, and argued against regulation. He recommended that Congress take the same approach to bitcoin as they did to the commercial Internet in the early nineties: wait and see. ‘If America is the leader in Bitcoin technology, America will create more jobs and more exports,’ he said. ‘If the United States doesn’t allow our businesses to accept bitcoin and create more jobs and exports, then countries like Germany and China certainly will.’  He understood why banks might be nervous about virtual currencies, though, as it is a disruptive technology, which threatens to undermine their business models.”

http://www.coindesk.com/bitcoin-regulated-commodity-banking-hearing-advised/

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Gaming Company Fined $1 Million For Secretly Using Players To Mine Bitcoin

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“The New Jersey attorney general’s office announced Tuesday that it reached a million dollar settlement with the Commack, NY-based company for infecting 14,000 computers with its Bitcoin Trojan. The program was also designed to give E-Sports employees full administrative access to users’ computers; they could access files, capture screen shots, track mouse movements, and monitor computer activity even when users weren’t logged into the E-Sports servers. Creepy! The software was designed to only mine Bitcoin when people weren’t active on their computers, i.e., when their mouse wasn’t moving. Over just two weeks, the company mined more than 29 Bitcoin; worth nearly $4,000 at the time.”

http://www.forbes.com/sites/kashmirhill/2013/11/19/brilliant-but-evil-gaming-company-turned-players-computers-into-unwitting-bitcoin-mining-slaves/

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The 16 Most Important Bitcoinaires

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“Tracking down who’s getting rich off the rapidly rising currency is beyond difficult. That is, unless Bitcoin holders like to brag.  And a handful of them do, while others are trying to generate publicity for their institutional funds that are invested in Bitcoin, like a few hedge funds that have recently come out in support of the currency.  Here’s a look at the world’s known bitcoinaires, and others who are shrouded in mystery. We calculated the worth of their stakes by using today’s exchange rate of $720 for one Bitcoin. The price of Bitcoin is highly volatile, so the dollar value of these Bitcoin owners’ investments can change considerably.”

http://www.buzzfeed.com/mariahsummers/the-16-most-important-bitcoinaires

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Cyanogenmod goes pro with Cyanogen Inc. and $7 million in funding

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“Cyanogenmod is hitting the big leagues with the founding of Cyanogen Inc. The new company is up and running thanks to a $7 million dollar series A investment by Benchmark Capital and Redpoint Ventures.  Cyanogenmod is the most popular custom Android ROM. Unlike stock Android, which is only available on Nexus devices, Cyanogenmod brings a near-stock experience to users of almost every Android device.  Users willing to hack their devices can remove their default version of Android and install Cyanogenmod. Many make the switch to either remove bloatware and manufacturer customizations or for the plethora of custom-developed Cyanogenmod features.”

http://arstechnica.com/gadgets/2013/09/cyanogenmod-goes-pro-with-cyanogen-inc-and-7-million-in-funding/

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TSA Rolls Out ‘Detention Pods’ at Airport Terminal Exits

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“The TSA is funding the rollout of exit pods at major airport terminals across the country that temporarily detain passengers before they are allowed to leave, another example critics say of how the federal agency’s policies treat travelers as prisoners.  Travelers are forced to be bottlenecked through the pods as they leave the airport terminal. A robotic voice gives instructions to wait inside the pod until a green light is shown and the door opens. The pods have already been installed at Syracuse International Airport as part of a $60 million dollar renovation and are likely to make their way into other major airports soon. Once travelers exit the pods, they are unable to re-enter the terminal.”

http://www.infowars.com/tsa-rolls-out-detention-pods-at-airport-terminal-exits/

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The bionic bunch: Gathering of exoskeleton-wearers walk for charity

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“Among the participants was the inventor of the suit, Dr. Amit Goffer. Goffer is himself a quadriplegic who became frustrated by the outdated wheelchair and wanted to create something that would allow people with spinal cord injuries to walk again.  ‘What’s unique about ReWalk is that behind the left elbow of the user is a motion sensor that picks up a user’s movement when they walk,’ Jasinski said. ‘That is attached to a computer that can replicate human gait to create a non-robotic walking step.’ Most other types of technologies cause an unnatural, stiff walk closer to a robot than to the way humans stride. ReWalk helps to create a more natural and human-like step.”

http://www.foxnews.com/tech/2013/11/18/exoskeleton-technology-helping-paralyzed-to-walk-again/

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Nhial Majok from BitPesa at the Singapore Bitcoin Conference 2013

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“Nhial Majok explains how his service BitPesa will make remittance in Africa cheaper, easier and faster using Bitcoin.”

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Tea growers explore bitcoin option to expand global biz

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“Small and specialised tea growers are working with a U.S-based online tea marketplace to explore the option of using digital currency bitcoin as a means of avoiding heavy banking fees and to expand international business.  Hawaii-based Tealet facilitates tea purchases between small tea farmers and the beverage’s global connoisseurs, a form of online direct selling, and has signed up a number of independent tea growers in Assam, West Bengal and Bihar. For smaller tea growers, this direct selling process cuts out the middle-man, thus, providing better profit margins. According to Lochan Tea, which exports around 2.5 million kg of tea a year, the Tealet process can deliver up to 100% more profit.”

http://www.thehindu.com/business/Industry/tea-growers-explore-bitcoin-option-to-expand-global-biz/article5368579.ece

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The Rise of Bitcoin and Fall of the U.S Dollar

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“In this video Luke Rudkowski interviews Jeff Berwick of the dollar vigilante about the future of the U.S economy and the rise of bitcoin. Jeff is a Canadian entrepreneur, economics, finance, investment writer, libertarian and anarcho-capitalist activist.”

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