Monthly Archives: December 2013

500Mbps Internet over phone lines might solve fiber’s “last mile” problem

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“The International Telecommunication Union (ITU) yesterday gave initial approval to a data transmission standard capable of 500Mbps speeds in both directions over existing telephone wires. The new standard, G.fast, can be used on phone lines within 250 meters of a distribution point, benefiting fiber-to-the-node deployments. With telcos not having to build fiber on the proverbial ‘last mile’ (or, really, 250 meters), this could bring fiber-like speeds to many more homes.  A new company, called Sckipio, was founded last year to build G.fast chips, on the belief that it will become a booming business because it’s more cost-effective than fiber-to-the-home.”

http://arstechnica.com/information-technology/2013/12/500mbps-internet-over-phone-lines-might-solve-fibers-last-mile-problem/

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U.S. Government Nastygram Shuts Down One-Man Bitcoin Mint

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“Mike Caldwell spent years turning digital currency into physical coins. That may sound like a paradox. But it’s true. He takes bitcoins — the world’s most popular digital currency — and then he mints them here in the physical world. If you added up all the bitcoins Caldwell has minted on behalf his customers, they would be worth about $82 million.  Basically, these physical bitcoins are novelty items. But by moving the digital currency into the physical realm, he also prevents hackers from stealing the stuff via an online attack. Or at least he did. His run as the premiere bitcoin minter may be at an end. Caldwell has been put on notice by the feds.”

http://www.wired.com/wiredenterprise/2013/12/casascius/

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Why you can’t run Bitcoin apps on your iPhone?

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“The official explanation from Apple is foggy. For example they told Blockchain: ‘…the facilitation of trading of virtual currency is not appropriate for the App Store.’ Gliph speculates that the real reason is that Apple believes Bitcoin may be made illegal in the future and they are trying to prevent any issues.  But, I think none of these reasons are correct.  Apple doesn’t want Bitcoin to compete with their own upcoming payment system.  I think Apple is preparing a fast, easy and elegant payment solution for retailers and customers. The fingerprint reader will allow fast authentication and the  iBeacon indoor positioning system technology will create a quick way to checkout.”

http://bitcoinowl.com/why-you-cant-run-bitcoin-apps-your-iphone

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KC law firm bets on the future of Bitcoin

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“Now that the federal government has recognized Bitcoins as legitimate currency, so are the law offices of Kennyhertz Perry LLC in Prairie Village.  John Kennyhertz, a partner at the firm, said he first came across Bitcoin several years ago when he was working for a private equity firm in California as a possible investment opportunity.  Fast forward a few years, and his current partner Braden Perry ran into it again through his work in the financial regulatory world. The firm now represents a client who works in the Bitcoin industry manufacturing computer equipment that allows people to create the currency.  They made the decision about a month ago to begin accepting Bitcoins.”

http://www.bizjournals.com/kansascity/news/2013/12/11/kc-law-firm-bets-on-the-future-of.html?page=all

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Merchants Love Bitcoin, and BitPay has 100 Million Reasons to Prove it

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“BitPay has reached yet another all-important milestone, having processed more than $100m bitcoin transactions this year.  The company, which helps merchants to accept payment in digital currency, has brought bitcoin to a number of popular retailers, such as Gyft and Shopify as well as bitcoin mining equipment producer KNC Miner and blog platform WordPress.  Stephanie Wargo, BitPay’s VP of marketing, said: ‘We are thrilled to have reached this milestone in 2013, and we expect this growth continue in 2014. We are adding hundreds of merchants every day as they see the benefits to accepting bitcoins for the purchase of goods and services.'”

http://www.coindesk.com/merchants-love-bitcoin-bitpay-100-million-reasons-prove/

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Bitcoin reshaping future of money

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“Tech gurus, executives and investors lined up at the ‘Le Web’ conference in Paris Tuesday to predict a bright future for Bitcoin, challenging critics who have emphasized the risks associated with the digital currency.  ‘I think there is a lot more that is going to happen in the world of money very quickly, and that’s because of Bitcoin,’ said Fred Wilson, a tech investor known for his early bets on Twitter (TWTR) and Kickstarter.  ‘We will now see payments and money flow on the Internet in the same way that content flows on the Internet and in the same way that images flow on the Internet,’ he said, adding that this was one of the most ‘investable’ trends he could see.”

http://money.cnn.com/2013/12/10/technology/bitcoin-currency-fred-wilson/index.html

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Bitcoin Believers See a Role for Wall Street

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“A venture capitalist, a former regulator, a lawyer and a pair of entrepreneurs gathered on Tuesday in the private dining room of an upscale Manhattan restaurant to discuss their vision of a world in which the currency plays a role in mainstream finance.  ‘We’re in inning one of a nine-inning game,’ said Chris Daniel, a lawyer at Paul Hastings who represents Circle Internet Financial.  The event, held at A Voce in Time Warner Center, showcased the arguments that some of Bitcoin’s most influential advocates are using to promote the currency’s adoption. They insisted that Bitcoin could one day become widely used in money transfers and payments large and small.”

http://dealbook.nytimes.com/2013/12/11/bitcoin-believers-see-a-role-for-wall-street/?smid=re-share&_r=0

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Bitcoin Foundation opens London office, Australia and Canada chapters

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“The Bitcoin Foundation, the de facto trade group for the emerging virtual currency, is embarking on an international expansion. The announcement sounds like something out of a sci-fi novel, describing a sort of United Federation of Planets for the virtual currency, ready to ‘protect, standardize, and promote the use of Bitcoin worldwide.’  The foundation has partnered with the Bitcoin Embassy of Canada and the Bitcoin Association of Australia as the inaugural chapters in its new ‘International Affiliate Program.’ It’s opening an office in London and is engaged in talks with Bitcoin organizations in India, Argentina, China, Germany, and the Netherlands.”

http://www.theverge.com/2013/12/12/5201706/bitcoin-foundation-opens-london-office-announces-australia-and-canada-chapters

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TIME: Top 10 Exciting Startups

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“2. Coinbase:  The digital currency bitcoin was thrust into the mainstream this year thanks to massive spikes in valuation ($265 in April, then $900 in November) and an FBI seizure of $ 28.5 million worth of bitcoins from the illicit drug website Silk Road. A cottage industry has emerged to help people put the virtual currency to legal use. Coinbase, headquartered in San Francisco, has become one of the most prominent businesses, allowing people to buy and store bitcoins and developing deals with merchants to help them carry out bitcoin transactions. The startup has attracted $6 million in venture funding, the most of any bitcoin company, and has signed up 13,000 merchants to use its service.”

http://business.time.com/2013/12/04/business/slide/top-10-exciting-startups/

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