Tag Archives: Bitcoin

Court Grants Order to Freeze Hashfast’s Bitcoin Wallets

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“A court in Fort Worth, Texas, has granted a temporary restraining order to freeze the bitcoin wallets of ASIC mining hardware manufacturer HashFast Technologies LLC and HashFast LLC, after a customer claimed it failed to deliver hardware on time or negotiate a refund.  The granting of a court order to freeze bitcoin assets of mining hardware companies who fail to deliver on time could have ramifications in an industry beset by delays as small and inexperienced participants grapple with issues related to cutting edge hardware design and production.”

http://www.coindesk.com/court-grants-order-freeze-hashfasts-bitcoin-wallets/

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As Bitcoin Companies Mature, More Take Talent from the Mainstream

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“Andy Goldstein worked at Visa for 16 years before taking a job at BitPay, a Bitcoin merchant services startup.  At Visa, Goldstein was most recently senior business development leader in the merchant sales and solutions group. He is now a regional sales manager at Atlanta-based BitPay, focused on integrating large enterprise merchants in the eastern U.S. and eastern Canada.  Goldstein resigned from Visa but left the company on good terms. ‘Some of my fellow co-workers were excited that I was pursuing my passion as I did not keep it a secret that I was very into Bitcoin and cryptocurrencies,’ he says.”

http://www.paymentssource.com/news/as-bitcoin-companies-mature-more-take-talent-from-the-mainstream-3017408-1.html

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New Active Trading Bitcoin Fund Seeks UK Investors

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“The Bitcoin Superfund will use a combination of algorithmic and human trading to achieve a higher rate of return than a simple ‘buy-and-hold’ strategy, its founders claim.  There is no specific launch date at present, but the Superfund is in the process of identifying institutional and high-net-worth investors to reach a target of £5m ($8.3m) under management at launch.  However, the fund is seeking Financial Conduct Authority (FCA) approval to operate in the UK, but with the FCA yet to issue any definitive statement on bitcoin, it is unclear how long this will take or if it will be possible.”

http://www.coindesk.com/new-active-trading-bitcoin-fund-seeks-uk-investors/

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The Benefits of Bitcoin in International Travel

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“Bitcoin solves many problems that international travellers currently deal with. It eliminates the hassle and fees associated with converting to local currencies and carrying cash, and it securely protects the payment credentials of consumers to avoid fraud risk and the potential to lose bank account access in a foreign country.  While it is tough to travel with only bitcoin on international trips at the moment, the rapid merchant adoption of bitcoin is changing this.  Travel-focused merchants such as CheapAir.com, BTCTrip and Pointshound are just a few merchants generating significant bitcoin sales from international travellers.”

http://www.coindesk.com/benefits-bitcoin-international-travel/

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Bitcoin’s ‘Demise’ A Reminder Of How Not Free We Are

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“I don’t think governments can stop the idea of cryptocurrency itself. All they are doing is forcing developers out there to create better, more paranoid coins—similar to how the recording industry’s vendetta against Napster didn’t stop music sharing, it enabled it to occur on a much wider scale (they stopped Napster, so the Internet went with Bittorrent).  And really, ‘The lady doth protest too much.’ If cryptocurrency is so untenable and dangerous, as governments maintain, let it collapse on its own lack of merit. Don’t suffocate it with inappropriate classification or authoritarian bans.”

https://medium.com/p/d5545bf0e2cb

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Sydney Property Agency Accepts Bitcoin Payments to Woo Chinese

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“Forsyth Real Estate, a Sydney-based property broker, will accept property deposits and payments from sellers in virtual currency Bitcoin to lure business from Chinese home buyers. The broker is Australia’s first property agency to accept Bitcoin, the most popular digital currency, to respond to an influx of foreign investors and expatriates seeking property in the nation’s most populous city, according to its website. Chinese buyers overtook their U.S. counterparts to become the biggest real estate investors in Australia in the year ended June 30, plowing A$5.9 billion ($5.5 billion) into residential and commercial property, according to the nation’s Foreign Investment Review Board.”

http://www.businessweek.com/news/2014-03-27/sydney-property-agency-accepts-bitcoin-payments-to-woo-chinese

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Isle of Man Welcomes Bitcoin Exchanges: ‘No License Required’

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“The Isle of Man seems to be setting itself up as a hub for bitcoin-related businesses. The self-governing British Crown dependency is already appealing to conventional businesses and wealthy individuals, and the latest indications are that this fiscally liberal environment will be extended to cryptocurrency-related activities as well.  The Isle of Man is highly attractive to e-business not least because of its low tax regime, where resident individuals are taxed at 20% to a maximum of £120,000 per year, while businesses pay no corporate tax and banks only 10%.  The island also boasts massive bandwith and redundancy, with world-class DDoS protection and multiple options for secure hosting.”

http://www.coindesk.com/isle-man-welcomes-digital-currency-exchanges-license-required/

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New IRS Bitcoin Rules Pose a Problem Startups Can Solve

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“Bitcoin, the IRS says, is property, not a currency. And as such, when you buy something with the volatile digital currency it’s most likely a taxable event.  That sounds like a bookkeeping nightmare, but as with so many of the twists and turns that face bitcoin as it matures as a digital currency (er, property) it’s also an area where new bitcoin startups could step in.  ‘I think this is going to create a huge opportunity for hosted wallets,’ says Jered Kenna, a bitcoin entrepreneur and the CEO of Moneyandtech.com. He believes that the smart bitcoin wallet makers will simply be able to add this as a service, tracking the capital gains and losses as you spend your bitcoins through the year.”

http://www.wired.com/wiredenterprise/2014/03/irs-bitcoin/

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Kraken Bitcoin Exchg. Passes ‘Proof of Reserves’ Cryptographic Audit

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“Bitcoin exchange Kraken has passed a cryptographically verifiable proof of reserves audit with flying colours.  The audit, which was carried out by Stefan Thomas on 11th and 22nd of March, proved that more than 100% of Kraken’s bitcoins are held in reserve.  The process was designed to allow the auditor to verify that the total amount of bitcoins held by Kraken matches the amount required to cover an anonymized set of customer balances.  Thomas said the audit was very strict, but at the same time it maintained ‘absolute privacy’ for customers. He also added that Kraken have expressed interest in conducting regular audits in the future, with different auditors each time.”

http://www.coindesk.com/krakens-audit-proves-holds-100-bitcoins-reserve/

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Kraken, a Bitcoin exchange, raises $5M

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“Kraken, an online exchange for Bitcoin, Litecoin, Namecoin, Ven, Ripple, and other digital currencies, has collected a tidy $5 million.  That’s $5 million in real, grown-up dollars.  ‘We are excited to get significant funding to expand Kraken, which already has the most advanced order types, from the newest of users to the most sophisticated traders,’ said Jesse Powell, founder and CEO of Kraken, in a statement.  Kraken publicly launched in September 2013, and now claims it is the top exchange in Europe.  The company also touts Kraken’s ‘strict regulatory compliance and professional array of advanced order types, the result of two years of development.'”

http://venturebeat.com/2014/03/25/kraken-a-bitcoin-exchange-raises-5m/

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