Tag Archives: Bitcoin

Feds Begin Their Crackdown on Bitcoin Stocks

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“If 2013 was the year that Federal agencies locked horns with bitcoin, the currency, 2014 is the year that they’re learning about bitcoin the fundraising mechanism. The current, technically interesting, bitcoin fundraising bubble, began when Mastercoin built a way of extending bitcoin’s blockchain so it can do a whole range of new things such as issuing brand new currencies and registering bets or contracts. Mastercoin, Ethereum and MaidSafe are essentially software startups that are pre-funded by selling their new digital currencies in advance.  The question is whether federal regulators will see this as an equity offering or instead something like the pre-sale of a video game.”

http://www.wired.com/2014/11/crypto-ipos/

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An enormous bitcoin mine went up in flames in Thailand

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“A large bitcoin mining facility in Thailand went up in flames this week, destroying the five-megawatt operation and disrupting the crypto-currency’s entire network.  Bitcoin is a digital currency that has no central bank or government backing it. Without any authority to print money, bitcoins are created through a process called ‘mining,’ which rewards networks of computers for solving complex puzzles that keep the network running. The more computing power, the more bitcoins that can be won, which is what this low-key farm in Thailand was designed to do.  Local media reported that the fire at the facility in Thailand, run by a group called Cowboyminers, raged for more than half an hour.”

http://qz.com/293418/an-enormous-bitcoin-mine-went-up-in-flames-affecting-the-entire-network/

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Online Drug Dealers Are Now Accepting Darkcoin

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“Over the last month, two of the dark web markets selling an anonymous, mail-order catalog of narcotics and other contraband have begun supporting darkcoin transactions. On a site called Nucleus, visitors can now use darkcoin to buy LSD, MDMA, and marijuana. On the competing market Diabolus, dealers accept it for cocaine, synthetic stimulants like ethylone and alpha-PVP, and even counterfeit Euros. Those two markets still represent only a tiny fraction of the growing dark web drug economy—most of which uses bitcoin exclusively. But darkcoin’s entrance could signal a new means of transaction in that underground industry, and one that’s far harder for law enforcement to trace.”

http://www.wired.com/2014/11/darkcoin-and-online-drug-dealers/

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Bitcoin Boulevard: Dutch neighborhood now accepting cryptocurrency

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“Ever more people are using digital currencies to pay for things – though it’s still relatively hard to find places that will accept them. But not so in one Dutch neighborhood, where the Bitcoin has become part of everyday life – as Irina Galushko found out.”

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Euro Pacific Precious Metals Now Accepts Bitcoin

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“BitPay, world leader in business solutions for Bitcoin digital currency, announces a partnership with SchiffGold (formerly Euro Pacific Precious Metals). Based in New York City, SchiffGold is a major international gold and silver dealer – and the world’s largest by volume to accept bitcoin to date.  SchiffGold is led by famed investor Peter Schiff and specializes in making high-quality bullion coins and bars part of its customers’ financial portfolio. The company has built a reputation for calling out unsavory practices in the gold dealer industry, and for its honest and competitive pricing across all product categories.”

http://schiffgold.com/key-gold-news/euro-pacific-precious-metals-now-accepts-bitcoin/

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Inside a Chinese Bitcoin Mine

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“The first thing you notice as you approach the warehouse is the noise. It begins as soon as you step out of the car, at which point it sounds like massive swarm of angry bees droning away somewhere off in the distance. As you step through the doors it becomes a deafening and steady roar; a combination of tens of thousands of tiny ASIC chips hashing away, and dozens of large industrial fans serving to cool down the ‘workers’. The next thing that hits you as you enter is the wind. The deeper into the building I walked, the more powerful the gust became, coming from behind me and rushing past, across the giant warehouse floor full of machines.”

http://www.thecoinsman.com/2014/08/bitcoin/inside-chinese-bitcoin-mine/

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OpenBazaar: The Decentralized Offspring of Ebay & Amazon

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“No longer do you have to worry about a centralized business dictating the rules of operation (i.e. what kinds of items you want to list, what price, where you can sell or buy from). This creates a borderless trade system that no longer is limited to corporate interests.   Secondly is, as a protocol, OpenBazaar will support many types of business operations, not just direct sales or auctions (la eBay). You will be able to conduct all sorts of activities like lending, crowdfunding, crypto security issuance. The thing that makes this work, though, is our arbitration system, which uses multisignature transactions and a reputation system that is being built currently.”

http://cointelegraph.com/news/112756/openbazaar-the-decentralized-offspring-of-ebay-amazon-interview-with-project-lead-brian-hoffman

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TeraExchange Receives US Approval to Launch First Bitcoin Derivative

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“The first financial instrument tied to bitcoin has launched following approval from the US government.  TeraExchange, a swap execution facility based in Summit, New Jersey, is marketing the bitcoin derivative to large institutions looking for a way to reduce the volatility and risk associated with traditional types of bitcoin exposure.  TeraExchange began working on the product earlier this year, and only just received approval from the US Commodities Futures Trading Commission (CFTC), the government agency that regulates futures and options markets.  The bitcoin swap enables parties to hedge against fluctuations in the digital currency’s value.”

http://www.coindesk.com/teraexchange-bitcoin-derivative-cftc/

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BitPay Expands European Headquarters

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“Last week, BitPay announced plans to move to a larger office in the Dutch capital after observing a bitcoin payment explosion in Europe of €28 million this year: a whopping 1,900 percent increase from last year’s €1.4 million.  With demand for the cryptocurrency found particularly high in the U.K., Germany, and Netherlands, BitPay hopes to acquire 30,000 merchants in Europe by the end of 2014. The company cited already had 7,000 by earlier this year.  In May, BitPay received $30 million capital infusion led by London-based Index Ventures, just a month after announcing plans to expand operations in South America and Europe.”

http://www.globalatlanta.com/article/27164/bitpay-expands-european-headquarters/

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PayPal’s Braintree Embraces Bitcoin, One-Touch Payments

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“Nearly a year after PayPal acquired it in an all-cash $800 million deal, online and mobile payments platform Braintree is unveiling one-touch payments and is integrating Bitcoin.  They’re partnering with Y Combinator and Andreessen Horowitz-backed Coinbase to enable Bitcoin-based payments.  ‘This is PayPal making a move to embrace Bitcoin,’ Ready said, pointing out that Braintree is the go-to developer platform for PayPal.   Developers who have integrated Braintree’s software development kit will also be able to add Bitcoin to their payment methods. The integration will support instant exchanges, meaning that the merchant doesn’t have to handle Bitcoin directly.”

http://techcrunch.com/2014/09/08/paypal-braintree/

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