Category Archives: Bitcoin

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Mt. Gox is Dead.

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It’s not official, it’s not looking good for Mt. Gox, the online exchange that has held withdrawals from its customers for weeks now. There are now reports of the exchange halting  trades.

Update: All trades have ceased, eve of 2/24/14.

Blockchain.info has recently released a join statement on the topic.

“We are witnessing the failure of a company the government would deem ‘too big to fail,'” says one redditor, and they are right. The free market gobbles you up and spits you out when you keep messing up, as this isn’t their first time being solely responsible for tanking the market…  Continue reading →

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Why Bitcoin will more than Triple, come April

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I believe we will see an epic rise, yet again, in Bitcoin’s price very soon.

When I was a younger lad, I would always join my Dad at the local car auction whether it was to help pick out the new family mobile or my first few cars. Growing up in a smaller city, the auto industry was a large part of our local economy and every year I watched the average prices of cars go up and down depending on the season.  Continue reading →

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BTC-e Investigation Report was a Hoax

btc-e-down-cloudflareDid you get a little scared that the russian BTC-e servers would be frozen or seized? You wouldn’t be the only one..

BTC-e, one of the largest bitcoin exchanges on the market, was rocked following an announcement published on the website of the Prosecutor’s Office of the Volgograd region on Monday. The statement claimed BTC-e was “under investigation” by the office and it quickly generated plenty of fear, uncertainty and doubt (FUD).

However, it now seems fear mongering was the sole goal of the statement, which was apparently fake. The prosecutor’s office has issued another statement, saying its website had been hacked and the initial announcement was posted by hackers.

The rest of the story here.

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NYDFS PUBLIC HEARING REGARDING VIRTUAL CURRENCIES

January 29, 2014, 10:00 a.m. to 11:00 a.m.; 11:30 a.m. to 1:30 p.m.; & 2:30 p.m. to 4:00 p.m.

Panel 1- Law Enforcement and Virtual Currencies

*Cyrus R. Vance, Jr- District Attorney of New York
*Richard B. Zabel- Deputy U.S. Attorney for the Southern District of NY

Panel 2- Virtual Currency Commerce and Consumer Protections

*Fred Ehrsam- Co-Founder, Coinbase
*Jeremy Allaire- Founder & CEO, Circle Internet Financial

Panel 3- The Academic View on Virtual Currencies

*Ed W. Felten- Professor of Computer Science and Public Affairs,
and Director of the Center for Information Technology Policy, Princeton University
*Susan Athey- Professor of Economics, Stanford University

http://www.totalwebcasting.com/view/?id=nysdfs

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Joe Rogan Experience #446 – Andreas Antonopoulos

If there is one “must watch” interview on the topic, I would say it’s this one. Joe Rogan is rather new to bitcoin and asks Andreas Antonopoulos very common questions that most have when introduced to this magical internet money, called Bitcoin.

Andreas is a true Bitcoin guru that can take geeky information and make it easy to digest for even the most non-technical populus (the other 6 billion as he puts it).

Andreas Antonopoulos is a bitcoin entrepreneur, he also serves on the advisory boards of several bitcoin startups and serves as the Chief Security Officer of Blockchain.info.

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TigerDirect Tops Overstock, Initial Bitcoin Sales

TigerDirect.com announced yesterday that they are now accepting the digital currency Bitcoin, becoming the 2nd major retailer to accept the new digital currency. Within the first 17 hours, their sales in bitcoin amounted to over $250,000!

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It has since then been 17 hours. So where are we now in terms of sales? An TigerDirect spokesperson told BitcoinBoard this morning the company has raked in a massive $250,000 USD worth of items in bitcoin payments since it started accepting the payment method 17 hours ago. The amount was spend in more then 1000 orders, and these are great numbers for the webstore.  Continue reading →

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Major Retailer TigerDirect.com Now Accepting Bitcoin

tigerdirect_logo bitcoin TigerDirect.com, a Systemax, Inc. subsidiary who boasts revenues of over $3.6 billion, now accepts bitcoin payments for online sales!

“We’re excited to announce we now accept Bitcoin virtual currency. Bitcoin is an innovative payment network and a new kind of money. ” says the new TigerDirect bitcoin page which was launched just hours ago.

Starting as a conversation over Coinbase on Jan 21st, an employee of TigerDirect informed me that they were working on accepting bitcoin, but I didn’t think it would be completed only a few days later! Continue reading →

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Understanding Bitcoin’s Cryptology – Adam Back

The Adam Back Interview Adam Back is a British Cryptographer and crypto-hacker. He’s the inventor of Hashcash, the proof of work system used by Bitcoin and after we were initially introduced by a mutual acquaintance Charles Hoskinson, I met him at the vegas conference surrounded by a large huddle of conference attendees listening to him speak in the hall.

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eBay Takes Its First Steps Toward [Digital] Currency

ebayEbay tries to categorize digital currencies as “Virtual” in their new “Virtual Currency” category in the classifieds section. This is another main stream slight against the currency Bitcoin, as it is in no way “Virtual”.

Ebay will soon realize bitcoins full potential and adopt it as a payment method. If they don’t, they will inevitably be squashed by competition.

“To promote a trustworthy marketplace and ensure compliance with applicable regulations, eBay is currently updating its Currency Policy,” an eBay spokesperson told Mashable in an email. “The updated policy will clarify that listings for Bitcoin and other similar virtual [digital] currencies must be listed in the Virtual [Digital] Currency Category in the Classified Ad format.”

Full article here.

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Feds are trying to slow market growth

1 - ZItI0MOAfter the big news of both Overstock and the NBA team, Sacramento Kings, adopting bitcoins, the Fed may be trying to curtail the recent growth in the market. The mere threat of dropping $25mil worth of bitcoin on the exchanges could push the market to new lows, let alone if they actually do…

Forbes just reported that the FBI is no longer interested in holding the 29,655 bitcoins.

 It’s likely that the U.S. Marshals will instead auction off the Bitcoins as if they were Bernie Madoff’s penthouse or a drug dealer’s cars. When the FBI first seized the coins in October, they were worth about $6 million; they’re now worth four times that. This is a bust that keeps on paying off. The proceeds will go to the U.S. Treasury.

Either way, It won’t even be blimp on the record when we look back in a year or two. These coins will probably be purchased up by huge investors at bargain prices. Other reports say they will be  split up and sold off auction style, not directly to any exchange.

Full article here.