Monthly Archives: August 2014

Dell Sells $50,000 Server For 85 Bitcoins

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“Dell has received a more than 85 bitcoin order valued at $50,000, the largest order the computer maker has taken with the virtual currency.  Michael Dell, chief executive of the company, announced the order for a PowerEdge server on Twitter Aug. 9.  ‘I can confirm that the server order Mr. Dell tweeted about was the largest order with bitcoin as the payment method since we began accepting it in the U.S.,’ spokesman David Frink said in an email to CruxialCIO.  Dell has been accepting payment in bitcoin since July, when it announced a partnership with payment processor Coinbase.  As an incentive, Dell offers a 10 percent discount, up to $150, on Alienware products purchased with bitcoin.”

http://www.cruxialcio.com/dell-sells-50000-server-85-bitcoins-9638

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Andreas Antonopoulos on Bitcoin @ Maker Faire 2014

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“Andreas giving a talk on Bitcoin at the Maker Faire in Detroit, July 26 2014.”

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Overstock’s Radical Plan to Reinvent the Stock Market With Bitcoin

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“Overstock.com and its swashbuckling CEO, Patrick Byrne, are hoping to create a new kind of corporate stock based on the computer software that drives bitcoin, aiming to overhaul the stock market in much the same way that bitcoinoverhauled how we store and exchange money.  Overstock—one of the world’s largest online retailers, with $1.3 billion a year in sales—unveiled a webpage that explores how a public company could issue a ‘cryptosecurity’ to potential investors. In an echo of the bitcoin digital currency, this would be a stock that’s controlled by cryptographic algorithms running across a network of computers owned by people and companies spread across the globe.”

http://www.wired.com/2014/07/overstock-and-cryptocurrency/

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A New Digital Currency Whose Value Is Based on Your Reputation

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“Unlike with bitcoin—which keeps its currency scarce by rewarding it only to those who participate in what amounts to a race to solve complex cryptographic puzzles—anyone will be able to create a new Document Coin anytime they want. The value of each coin will be completely subjective, depending on who creates the coin and why. ‘For example, the coin my disco singer friend created and gave me at my barbeque might be what gets me past the rope at the club,’ Anderson says. A coin minted by tech pundit Tim O’Reilly might be highly prized in Silicon Valley circles, but of little interest to musicians. ‘It’s a bit like a combination of a social network with baseball trading.'”

http://www.wired.com/2014/07/document-coin/

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Mt. Gox and Ripple Founder Jed McCaleb Unveils Project ‘Stellar’

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“Stellar, the long-secret digital currency project helmed by industry entrepreneur Jed McCaleb, has officially launched.  McCaleb is the original founder of defunct Japanese bitcoin exchange Mt. Gox and a co-founder of digital currency-focused payment network Ripple Labs.  The new platform is a decentralized gateway for digital currency to fiat currency transfers. Like Ripple and bitcoin, Stellar will act as a public transaction authenticator and feature its own in-house digital currency called ‘stellar’.  The launch of Stellar cuts McCaleb’s remaining ties with the Ripple project.  In May, McCaleb announced his intention to sell his holdings of XRP, the native currency of the network.”

http://www.coindesk.com/mt-gox-ripple-founder-jed-mccaleb-unveils-project-stellar/

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Tokyo Police Launch Investigation into Missing Mt. Gox Bitcoin

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“The Tokyo Metropolitan Police Department has launched an official investigation into possible illicit activity surrounding the closure of Japan-based bitcoin exchange Mt. Gox.  The news comes roughly five months after the bitcoin exchange reported it lost roughly 744,400 BTC – then about $350m in customer funds, and about one month since Mt. Gox was approved for its Chapter 15 bankruptcy in the US.  Tokyo police [said] that they suspect roughly 27,000 BTC were stolen from the website.  The news, while vague as to how police will seek to carry out their mandate, is potentially encouraging to former exchange users still waiting for any action that could help recover their lost assets.”

http://www.coindesk.com/japan-police-launch-investigation-missing-mt-gox-bitcoin/

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Mt. Gox Head Believes No More Bitcoins Will Be Found

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“‘I was always worried: ‘What if all the bitcoins got stolen?’ ‘ the 29-year-old Frenchman said in an interview, his first since a Feb. 28 news conference to announce the exchange’s bankruptcy filing.  Mr. Karpelès says the failure to find experienced executives to help him deal with day-to-day operations was a critical mistake. Instead of focusing on the company’s technology, he often spent hours each day in meetings with lawyers and bankers.  Mr. Karpelès said the exchange’s fast growth had been too much for him. In just three months after he bought Mt. Gox from founder Jed McCaleb in March 2011, the 3,000 accounts surged by a factor of 20, he said.”

http://online.wsj.com/articles/mt-gox-head-believes-no-more-bitcoin-will-be-found-1403850830

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Investors Are Plowing Into European Bitcoin Firms

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“Europe is now the fastest-growing region for venture capital investment in Bitcoin.  In its quarterly State of Bitcoin report, CoinDesk shows Bitcoin VC funding in Europe nearly doubled in Q2, to $30.9 million from $15.6 million in Q1. Investment in North America climbed 21% to $186.3 million. Asian funding fell 18% to $20.8 million.  Within Europe, Netherlands-based Bitfury, a mining hardware developer, captured the greatest share, raising $20 million. That funding round alone made the Netherlands the second-largest recipient of VC funds in the world.  European countries hold the top-5 positions for downloads per capita of Bitcoin’s core protocol.”

http://www.businessinsider.com/europe-bitcoin-investment-surge-2014-7

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VC Tim Draper Wins US Marshals Auction Of 30,000 Silk Road Bitcoins

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“Draper first began making headlines in the bitcoin ecosystem last June, when he announced that his Silicon Valley-based higher education facility, Draper University of Heroes, would become the first university to accept bitcoin for tuition payment.  A third-generation venture capitalist, Tim Draper’s father, William Henry Draper III, founded Draper & Johnson Investment Company in 1962. Further, William Draper’s father, William Henry Draper Jr., founded VC firm Draper, Gaither and Anderson in 1958. Today, Draper’s son, Adam Draper, is heavily involved in the bitcoin space as a VC, and was notably an early investor in California-based bitcoin financial services provider Coinbase.”

http://www.coindesk.com/tim-draper-revealed-silk-road-bitcoin-auction-winner/

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Lake Tahoe Property Sells for $1.6 Million in Bitcoins

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“The 1.4-acre acre home site has views of the Pacific Crest, a surrounding mountain range. It is located in Martis Camp, a private luxury recreational resort in Truckee, Calif. The 2,177-acre resort, near Lake Tahoe’s north shore, has a Tom Fazio golf course, a 44-seat movie theater and an ‘aerial adventure park’ with rope courses and a zip line.  Brian Hull, Martis Camp’s director of sales, said the buyer was a ‘Silicon Valley entrepreneur,’ but declined to disclose his name. He said the buyer purchased the land through a trust, and plans to build a home on the site.  BitPay, an online-merchant processor that operates similarly to PayPal or Worldpay, handled the Tahoe transaction.”

http://online.wsj.com/articles/lake-tahoe-property-sells-for-1-6-million-in-bitcoins-1407534997

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