Monthly Archives: February 2014

MIT Bitcoin hackers slapped with New Jersey subpoena fight back

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“Although 98 percent of Tidbit’s infrastructure is in place, it isn’t ready for production use, according to the developers. They intentionally left out the final interaction (with Bitcoin pooling service P2Pool) while they worked on a set of terms and conditions. That’s why they were so surprised when New Jersey came knocking.  ‘We were served right before finals,’ Rubin told VentureBeat. ‘I think what was hardest is that I, and perhaps most MIT students, just want to build, make, and tinker towards a better future.’  Tidbit could enable websites to tap into visitors’ computers and borrow CPU cycles to mine Bitcoin. In exchange, the sites would remove display advertising for those who opt-in.”

http://venturebeat.com/2014/02/12/new-jersey-slaps-mit-bitcoin-hackers-with-subpoena-and-theyre-fighting-back/view-all/

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Jason King of Sean’s Outpost on Bitcoin and Charity

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“Jeffrey Tucker interviews Jason King on why he is raising money with Bitcoin, and the dramatic story of his own charitable work.”

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Pensacola moves to eliminate homeless ‘blanket ban’

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“The Pensacola City Council took the first step toward abolishing a controversial law that makes it a crime for the homeless to sleep with a blanket on city property, established a task force to seek more lasting solutions to the city’s homelessness epidemic and narrowly rejected a related attempt to roll back restrictions on tents and other temporary shelters.  The vote followed nearly an hour of impassioned comments from opponents of the ban. Members of the audience, including founders of internationally renowned homeless outreach Sean’s Outpost, told the council the law was inhumane, a violation of residents’ basic human rights and disastrous to the city’s reputation.”

http://www.pnj.com/apps/pbcs.dll/article?AID=2014302140027

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Get Konnected with The Kronies Action Figures

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“The Kronies are in action…Mandating, Tarrify-ing, Inflating, and Boondoggling their way to profits powered by their special konnection to the G-Force. Watch Big-G and his team stomp out competition!”

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Yes, Bitcoin Enables Drug Dealing, Just as Major Banks Do

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“Charlie Shrem, along with a Florida man named Robert Faiella, was charged with conspiracy to commit money laundering linked to alleged sales of more than $1 million in bitcoin to people who wanted to buy drugs on Silk Road, an online marketplace that accepted only the crypto currency.  The arrests underlined growing concerns among law enforcement that bitcoin, a purely anonymous means of exchange, had become the preferred currency of the criminal underworld, and that payments companies like Shrem’s had become the enablers of drug trafficking and other nefarious enterprises. But you know what else has a history of enabling nefarious criminal enterprises? Banks.”

http://nybw.businessweek.com/articles/2014-02-07/bitcoin-enables-a-fraction-of-the-drug-dealing-banks-facilitated

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Charlie Shrem, Bitcoin entrepreneur, interviewed by Jeffrey Tucker

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“Charlie Shrem has been on the forefront of cryptocurrency for years. This is how he came to know and love innovation in this sphere.”

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Microsoft beats Google by adding Bitcoin currency conversion to Bing

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“Microsoft today added Bitcoin currency conversion to Bing, which supports over 50 currencies in its index. Conversion is as simple as typing in ‘x btc to currency‘ or ‘x currency to btc.’ The data is provided by digital wallet company Coinbase.  Microsoft says the digital currency option is initially available to people in Australia, Canada, India, the UK, and the US, but will be rolling out to additional markets ‘in the coming weeks.’ There’s no word on other popular options like Litecoin and Dogecoin, which leaves an opening for Google to surpass Bing when it gets around to supporting digital currencies.”

http://thenextweb.com/microsoft/2014/02/10/microsoft-beats-google-adding-bitcoin-currency-conversion-bing/

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New York Hedge Fund Has Already Taken $5.4m in Bitcoin Deposits

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“New York-based hedge fund NYSO HEDGE revealed on 7th February that it would accept bitcoin for all deposit transactions, and as of 10th February, $5.4m in deposits had been invested via the new offering.  A subsidiary of NY Stock Options Inc, NYSO HEDGE describes itself as an ‘aggressive growth hedge fund’ aimed at retail investors and specializing in ‘high risk, high return’ funds.  Accounts feature a minimum deposit of $25,000, and available payment options include credit cards and bank transfers.  The announcement ends a long journey for the trading platform provider, which has been seeking regulatory approval to accept bitcoin since 2013.”

http://www.coindesk.com/bitcoin-as-safe-as-wire-transfers-says-ny-hedge-fund/

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Patrick Byrne: Bitcoin Messiah, Overstock CEO, Scourge of Wall Street

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“‘Someday, either zombies walk the Earth or something close to that,’ says Byrne, the son of the man who built the GEICO insurance empire, Jack Byrne, and a protege of Warren Buffet, the most successful investor in the history of Wall Street. ‘Bitcoin is the solution.’  Like Marc Andreessen, one of the founding fathers of the web browser, who has also put his weight behind the digital currency, Byrne brings more than highfalutin metaphors to the table. The 51-year-old has proven that, beneath his wonderfully entertaining and often perplexing way of describing the world, he has a knack for seeing where things are going before others do.”

http://www.wired.com/business/2014/02/rise-fall-rise-patrick-byrne/

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Overstock to Launch New Rewards Scheme for Bitcoin Buyers

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“Overstock CEO Patrick Byrne said the scheme is expected to debut in approximately four weeks, although he did not commit to a definitive timeline.  The program will not provide an instant discount on orders, but will instead give 1% of the total purchase value back to buyers to be applied to future purchases. Byrne did not provide further details of how the program would work, or whether it will be able to be used in conjunction with other company rewards schemes.  The announcement comes as Overstock nears a total of $1m in sales paid for in bitcoin. Overstock began accepting bitcoin on 9th January – garnering $130,000 in total first-day spending.”

http://www.coindesk.com/overstock-launch-new-rewards-program-bitcoin-buyers/

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