Dr Paul Ennis is a research assistant at The Centre for Innovation, Technology & Organization at University College Dublin, specializing in bitcoin and blockchain studies. In this feature piece, […]
March has been a busy month for Bitcoin in Japan. The country officially recognizes Bitcoin as a method of payment today. While Japan prepares to recognize the digital currency, […]
The largest Bitcoin exchange in the US is resisting the Internal Revenue Service’s efforts to obtain records on customers who traded in the virtual currency over a three-year period. […]
China’s central bank, the People’s Bank of China, could be about to implement rules designed to curb speculative trading in currency markets.
According to a report from Bloomberg , which cited anonymous sources, the PBOC has drafted rules for a Tobin tax on currency trading.
"The initial rate of the so-called Tobin tax may be kept at zero to allow authorities time to refine the rules," Bloomberg said, citing the sources. "The tax is not designed to disrupt hedging and other foreign-exchange transactions undertaken by companies."
The sources told Bloomberg that the rules still needed approval from the central government and that it wasn’t clear how quickly they could be implemented.
No further details, including what currencies would be affected, were provided.
The tax, named after Nobel Laureate economist James Tobin, who first floated the idea, would tax all spot foreign-exchange conversions from one currency into another.
The increased transactional cost would, according to the idea, discourage some speculative forms of trading.
Bloomberg suggests that the "tax would complicate plans by China to create an international reserve currency and could undermine the leadership’s pledge to increase the role of market forces in the world’s second-largest economy."The draft ruling may have been prompted by a surge in capital outflows from China over the past year.China’s FX reserves fell by $601.5 billion in the 12 months to February , the largest annual decrease on record. While partially caused by revaluation effects of the stronger US dollar, a proportion of the decline most likely was due to the central bank’s intervening in the currency market to curb excessive speculation toward further weakness in the renminbi. Read the original article on Business Insider Australia . Copyright 2016. Follow Business Insider Australia on Twitter . More from Business Insider Australia:
It began as a joke days before the Architect Ayal Segev hung the sign “Bitcoin-Embassy” at his Tel Aviv office. This story, is told in a recent story at the Juedische Allgemeine in German by Sabine Brandes. CCN has re-formulated that piece for an English speaking audience.
Increasing numbers of people started coming in. On many days, 20 and more would gather at the christened Bitcoin Embassy.
“I must always clean up the space,” he remembers, grinning. Segev searched for a bigger office, and today he still runs the Bitcoin Embassy of Israel, one of the most successful Bitcoin embassies in the world.
Bitcoin enthusiasts meet there – mostly young men wearing jeans, sweatshirts and sneakers. They read there about bitcoins. Perhaps not everyone understands Bitcoin, but that’s okay – there’s opportunities to learn about the nascent crypto-currency. Every Sunday at 7pm, Bitcoin-Embassy representatives and those interested in Bitcoin join together to discuss the currency.
“Because [Bitcoin] is not only currency but also an entire value and belief system,” Segev said. “It is significant and fragile, because it has many errors that money also has.” However, while fiat currency is controlled by nations and corporations, Bitcoin is decentralized and thus controlled by no one.
“Bitcoin is a revolution in awareness,” Segev maintained.
Bitcoin today is no longer than only crypto-currency on the Internet. Alongside the first formulation of crypto-currency, there are today hundreds of crypto-currencies with their own traits and specialties.
A man who goes by Assaf – highlighting the possible dangers of using alternatives to fiat currency in Israel – uses it and promotes it in the name of social justice. “There is great inequality in the world in money. Because we are all crazy after it, more and more are printed and given away. Money is no longer tied to gold reserves, and […]
Click to Open Overlay Gallery Then One/WIRED Bitcoin has failed . Bitcoin is the future . Bitcoin cannot be regulated . Bitcoin needs to be regulated . The debate over what will happen to the decentralized virtual currency has reached a cacophonous point, and now lawmakers around the world are wondering whether the time has finally come to regulate this emerging technology.
As I have said before, Bitcoin as a virtual currency presents significant challenges to regulators. But one should not be too hasty to regulate Bitcoin, without fully understanding the implications of blockchain technologies more generally, with regard to their impact on innovation, competition and regulation.
With a 5 billion market cap, Bitcoin is slowly making its way into the digital economy, and a growing number of merchants—including Overstock, Newegg, Expedia, Dell and even Microsoft—are now accepting Bitcoin as a possible form of payment for their products. Of course, regulation will be needed eventually, both to address the risks and maximize the benefits of the technology. But it is difficult to regulate today a technology that we do not yet fully understand. Given the experimental nature of blockchain technologies, whose possible uses and applications are still to a large extent unknown, regulation should be elaborated carefully and in a well-informed manner, to avoid precautionary measures from curtailing the future of these new technologies. Why Regulation Is Needed
Last month, the European Parliament held a public hearing (organized by the Committee on Economic and Monetary Affairs) to discuss the need and possible ways to regulate virtual currencies. Invited to this hearing were representative of the European Commission and the OECD, experts and practitioners from the private sector, and myself, as a representative of academia.
Because Bitcoin is a decentralized payment system that operates independently of any government or central bank, people […]
In 1919, Benito Mussolini coined the term “fascism” to describe his political system and the world forever changed. Simply put, fascism was the blending of business and government. This is the system which could gain popularity in blockchain technology.
In 2015, the technology and financial sectors took note of blockchain technology, not as it relates to Bitcoin , but, rather, how it could relate to their general business practices, models and theories. We’ve seen this innovation in perception march forward as the private sector – via consortiums and corporate labs – explores the innovation kicked off by Satoshi Nakamoto.
Talk in the space often focuses on the different types of blockchains which could be designed: private, public-private and public, the latter being the Bitcoin model.
Modern industrial societies are neither Capitalist nor are they Socialist. Instead, they represent “the third way” of possible outcomes of political thought in the nineteen and twentieth centuries, which were arguably inspired by laissez-faire (classical liberalism, Capitalism) and the opposing left-wing ideologies (Communism, Socialism).
In a synergy of opposing notions, modern societies are created out of a melange of Capitalism and Communism. US policy expert Zbigniew Brzezinski discusses “commercial capitalism.” This term, which he uses to describe the current economic and political systems in China, can be applied to the Democratic-Socialist nation-states in the west. It’s basically a society in which partnerships between government bodies (local and national) and private entities (big and small) are crucial for the fabric of society.
These ideological paradigms express themselves in Bitcoin Proper, where socialist and capitalists theorize how Bitcoin belongs to their ideological family tree.
Like an emerald in a field, Bitcoin and blockchain technology will reflect the society in which they exist. It’s plausible that Bitcoin finds itself fractured just like the many dissident and activist movements “in real life” fighting […]
I’ve spent more than 5 years being a Bitcoin developer. The software I’ve written has been used by millions of users, hundreds of developers, and the talks I’ve given have led directly to the creation of several startups. I’ve talked about Bitcoin on Sky TV and BBC News . I have been repeatedly cited by the Economist as a Bitcoin expert and prominent developer . I have explained Bitcoin to the SEC, to bankers and to ordinary people I met at cafes.
From the start, I’ve always said the same thing: Bitcoin is an experiment and like all experiments, it can fail. So don’t invest what you can’t afford to lose. I’ve said this in interviews , on stage at conferences, and over email. So have other well known developers like Gavin Andresen and Jeff Garzik.
But despite knowing that Bitcoin could fail all along, the now inescapable conclusion that it has failed still saddens me greatly. The fundamentals are broken and whatever happens to the price in the short term, the long term trend should probably be downwards. I will no longer be taking part in Bitcoin development and have sold all my coins.
Why has Bitcoin failed? It has failed because the community has failed. What was meant to be a new, decentralised form of money that lacked “systemically important institutions” and “too big to fail” has become something even worse: a system completely controlled by just a handful of people. Worse still, the network is on the brink of technical collapse. The mechanisms that should have prevented this outcome have broken down, and as a result there’s no longer much reason to think Bitcoin can actually be better than the existing financial system.
Think about it. If you had never heard about Bitcoin before, would you care about a […]
Nozomi Hayase PhD, is a writer covering issues of freedom of speech, transparency and decentralized movements. In this article, she looks at the continuing block size debate, bitcoin governance and why they are both so important. Bitcoin has exploded into prominence as technology capable of disrupting global finance. Massive investment money has been poured into its infrastructure and major banking industries are now joining forces to incorporate aspects of this technology.
Figures like Blythe Masters, […]
Subscribe to him, hate him, Russell Brand speaks his mind. TREWS, Brand’s popular podium for expressing his anarchist views does conjure interest. The recent sentencing of Ross Ulbricht caught his attention and in this video Brand does present a perspective worthy of thought.
So … how’s your foreign-exchange trading going? Yesterday’s pick-a-number-standard-deviation move in the Swiss franc "caught everyone off guard," "sent the markets into a tailspin," is "likely to create more volatility in the short term," and left a lot of people very embarrassed or broke: Anthony Peters, a broker at Swiss Investment Corp., said firms that were selling options tied to the Swiss franc may be among losers. They would have lost money as volatility […]
Whats that thing about history? Its hard to remember with so many bit-rivals talking about why your coins are worth dirt right now. Alot of you reading are in the red big time, and others only the few dollars they scraped together in a wallet or exchange . Don’t panic, stay calm, and buy if you can.
Why Bitcoin won’t bottom out..
It was 2014, the year of the Bitcoins, but not because it […]
Miami Beach Mobile wallet AirBitz, which provides a location-based directory to make it easier for users to spend bitcoin, is launching a giveaway promotion at the North American Bitcoin Conference in Miami, Florida.
Airbitz is calling the contest ‘Hidden Bits’, which is a scavenger hunt that will see bitcoin-loaded cards secreted in locations around the Miami Beach area during the conference.
Clues will be released on Twitter to hint at the location of the cards, which will contain QR codes giving finders access […]
So the latest news in the Ulbricht case is being widely discussed on Reddit, and could be a potential game changer in the case’s outcome. On day three of the trial, Ulbricht’s defence team managed to draw out of a Department of Homeland Security witness that Mt Gox founder Mark Karpeles was the driving force behind the illegal marketplace Silk Road, and that Ulbricht gave up control of the site to Karpeles in its […]
The price of bitcoin remains relatively stable, while other cryptocurrencies experience more losses (IBTimes UK) Cryptocurrencies have experienced more mixed fortunes over the last 24 hours following a turbulent week for the markets.
Bitcoin has remained relatively stable with just a 1% shift in value since 15 January, currently hovering just below $210.
Among the other big players, litecoin saw gains of around 5%, while dogecoin, peercoin and namecoin all fell by between 2% and 8%. […]
In this episode I introduce Bitcoin, digital crypto currency independent form Government and State backing and control, a new technology that allows easy flow of funds, trade, exchange, and investment.
Silk Road The number two spot for the most hated man in Bitcoin has changed a lot. Currently, it might just be Josh Garza as many PayCoin investors are not happy with the results of that investment. For a while it was Butterfly Labs CEO Sonny Vleisides, and for a while it was that NewsWeek reporter. But the number one spot has never been up for debate. It has been and may always be, […]
At a time when many bitcoin sectors are struggling, 2015 began with an outpouring of interest and show of strength for the crypto 2.0 community.
CoinDesk profiled a number of the promising projects , naming 19 to watch in the year ahead, but as our readers showcased, there remain many more that have garnered enthusiastic communities for their efforts.
However, while development continues on many exciting projects, a few notable names have so far used 2015 to […]
Mt. Gox bitcoin protest Mark Karpeles The trial of alleged Silk Road ringleader Ross Ulbricht heated up today during the questioning of a US Department of Homeland Security (DHS) by the defense team, led by Ulbricht’s lawyer Joshua Dratel.
The DHS witness, agent Jared DerYeghiayan, apparently claimed that Mark Karpeles, former CEO of the embattled bitcoin exchange Mt Gox, was once suspected to be the online black market’s mastermind, Dread Pirate Roberts.
Reporters from the courtroom took to Twitter […]
South Korean bitcoin exchange Coinplug has some big plans ahead. The company is distributing pre-paid bitcoin gift cards to about 24,000 convenience stores across the country. Thus far, about 8,000 of those stores are part of the 7-11 franchise, and other major chains are slated to be selling the cards by the end of the month.
The company confirmed in a Reddit post:
“We are in the process of distributing the cards to convenient stores.”Coinplug’s Richard […]
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RushWallet Fundraiser is the easiest way to collect, fundraise, or pool bitcoin online. The RushWallet Crowdfunding tool allows users to quickly establish frictionless and free fundraising campaigns within the RushWallet platform. Using a single RushWallet, it is possible to […]
The Bitcoin Embassy is a three-story building located in dedicated entirely to cryptocurrency, decentralized technologies and financial innovation. It acts as an educational centre and collaborative working & meeting space in Montreal for Bitcoin entrepreneurs, professionals, investors. It also acts as a start-up incubator and its experts provide consultancy services at competitive rates.
Our mission is to provide a home from the Bitcoin community, to foster information sharing and to be a catalyst for technological […]
The European Union introduced legislation in November 2014 that implemented a new Value Added Tax (VAT) to virtual purchases. The legislation took effect on January 1, 2015. It is designed to reduce the ability of companies to avoid taxes, especially large companies such as Amazon.com.
Instead of taxing an item based on the country where it was manufactured, or to the location of corporate headquarters, the item is taxed based on the country where the […]
The website DNAinfo ran a story on January 13 about a murder in NYC with the headline “Bitcoin Trader Accused of Murder.” The headline made it sound as if Bitcoin was somehow connected to the act.
The facts of the case are different. The only apparent link to Bitcoin is that the accused, Quentin Capobianco , an 18-year-old “teen” investor, had traded Bitcoin at some point. Capobianco is accused of bludgeoning his roommate, a 29-year-old […]
Following are the major Bitcoin news of the day
Coinbase Expands its Services to Seven US States
Bitcoin wallet and payment processing company Coinbase recently announced to extend its services to over seven US states. They are: Alabama, Iowa, Kansas, Mississippi, New Hampshire, New York and North Dakota (totaling 22 states). Users from these states will now be able to buy Bitcoins without using a credit card. You can read the entire report […]
Bitcoin has seen a 15% increase over the last 24 hours, sparking a market-wide recovery (IBTimes UK) The price of bitcoin has rebounded above $200 following a prolonged crash earlier this week that saw the world’s most valuable cryptocurrency drop to its lowest levels since October 2013.
A 15% price rise over the last 24 hours has taken bitcoin to its current level of around $212 and has spurred other cryptocurrencies to follow in its […]
The normally tight-lipped bitcoin services provider Xapo has announced a slew of new updates focused on bolstering its security offerings.
Though the move allows the company to remove fees for its signature vault storage service, adding multi-signature authorization to that offering and completing a Service Organization Control 2 (SOC2) Type I Audit. But it is perhaps its partnership with Silicon Valley startup Satellogic that showcases the extent to which it seeks to secure the bitcoin it holds for customers.
ForexMinute.com – Netherlands Stockholder Association’s Director Paul Koster recently requested the central bankers to immediately ban the cryptocurrency Bitcoin.
According to a report published on Dutch news service BNR , Koster deliberately chose the Bitcoin’s worst trading phase to throw tantrums over it. “These volatile Bitcoin price fluctuations prove that this market is not supervised and/or regulated by any government or institution,” he said. “As a result, it is impossible for banks, consumers, investors and […]
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This video covers some of the introductory basics to getting involved with Bitcoin if you are interested. In the background is a brief trading session I had as my first round of trading with anything substantial. Everything here is for educational use only, and is not meant to be taken as any sort of financial advice.
Where to Buy: #1 Coinbase.com #2 Localbitcoins.com #3 MT Gox after verifying/tied bankWallets: […]
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Dont buy Bitcoin Wealth Alliance by Anthony Trister. This was launched on September 23. This software teaches beginners how to make a tremendous profit with bitcoin, whether it goes up or down. A bitcoin is digital money that allows users to conduct transactions online. To start, you need to put a minimum of $250 in your trading account.Anything […]
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Hybrid cloud. BYOD. Big Data. Internet of Things. These are terms that have become part of the daily lexicon, not only within the information technology (IT) and cyber security world but also in the main stream. Jargon is integral to IT. They make complicated terms more accessible to the non-technical person, even if they aren’t easier to understand.
Buzzwords are commonplace in IT security, as well, but are they truly understood? As […]
People are Talking About…
Bitcoin was supposed to be a substitute for gold , but now it’s behaving more like oil. Not the oil of 2013 and 2014 when the price spiked above $100, but the oil of today with prices below $50. Bitcoin prices have also fallen over the past year from about $1,000 to just above $200 . In both cases, the price is so low that it no longer makes economic […]
At the start of the New Year, we reported that ChangeTip was adding Facebook and Slack integration. The Facebook integration was already there for some users, but Slack had not yet been rolled out to the public.
Now, it is. Slack is a collaborative work platform with social elements that takes itself less seriously than other work productivity apps. It functions a bit like a message board with healthy doses of Google Drive, Facebook and […]
South Korean exchange Coinplug is set to drive a rollout of Bitcoin gift cards, which anyone will be able to purchase from convenience stores imminently.
OkBitcard , a scheme which will allow customers to purchase US$50 worth of bitcoin, is already operational in a range of merchants in South Korea, including 7-Eleven, in the form of a printed receipt. Soon, Coinplug stated, physical cards will also be widely available.
The company confirmed in a Reddit […]
South Korean bitcoin services company Coinplug is rolling out pre-paid bitcoin gift cards to around 24,000 convenience stories across the country, with 8,000 7-Eleven stores already participating.
The company says its ‘okBitcard’ offering will be on sale in other major chains by the end of January. With those numbers, it will be the most widespread distribution of its kind in the world to date.
Cards are printed with fiat values of 10,000, 30,000 and 50,000 South Korean won (approximately […]
Hi Guys, Ben here from Everyday Bitcoin to show you how to set up an Online Bitcoin Wallet using Blockchain. More Bitcoin Tutorial Videos at www.everydaybtc.com
Thanks to my friends at TicketCity.com, we can review the business and financial highlights of the 2014-15 bowl season.
The highest median sale price belonged to the championship game between Ohio State and Oregon. The game produced a median sales price of $623, which was 116% higher than the next closest game (Sugar Bowl between Alabama and Ohio State, which fetched a median sales price of $288).
The highest attendance took place at the Rose Bowl between […]
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A bitcoin. Photograph by Tomohiro Ohsumi — Bloomberg/Getty Images Times just got even tougher for the fledgling cryptocash.
This post is in partnership with Entrepreneur. The article below was originally published at Entrepreneur.com .
By Kim Lachance Sandrow, Entrepreneur.com Bitcoin continues to kick off the new year on an appalling note. Just two weeks after being named the worst-performing currency of 2014 — and only a day after opening statements took place in […]
Following a lengthy silence in the media, CoinTerra CEO Ravi Iyengar has emerged on the offensive, seeking to clarify the current state of his bitcoin mining firm, one that has recently been rocked by questions about its solvency.
Speaking to CoinDesk as part of a new interview, Iyengar confirmed that the Austin-based bitcoin mining company is in default, and it is currently awaiting a decision from its secured note holders.
CoinTerra is in default on roughly $4.25m-worth of […]
PayPal has some interesting feelings towards bitcoin. Apparently, while the currency itself shouldn’t be up for regulation, businesses that deal in it should.
The company made a submission to the Australian Senate committee investigating the regulation of digital currencies that calls for the recognition of differences between digital currencies, and the companies that facilitate digital currency transactions.
PayPal’s submission states:“While the currency itself should not be regulated, and transactions by individual users without the assistance of […]
Bitcoin storage firm Elliptic has received accreditation from “Big Four” accounting firm KPMG , and is now considered to be operating on the same level as a custodian bank.
As Elliptic CEO James Smith explains:
“KPMG’s accreditation is an important milestone, as it demonstrates our commitment to delivering both best-in-class technology and deep operational expertise… This report demonstrates to our customers that we have the rigorous internal processes and controls expected of any traditional financial services […]
Brandon Chase from NewsBTC got a chance to chat with Victoria van Eyk, a community developer on board with ChangeTip . It became apparent that ChangeTip intends to keep most of their major developments under wrap for now, although a few suggestive hints about the near future were shared. NewsBTC is excited to follow the growth and expansion of ChangeTip as they evolve within the bitcoin economy.
Chase: How was your time at The […]
In a less than graceful tweet, Jeffrey Smith , the CIO of CEX.io , announced that the company would be pausing mining for its users. Taking into account the Bitcoin price drop, and the increase of difficulty, we will pause cloud mining after the next difficulty increase — Jeffrey Smith (@jeff_smith01) January 12, 2015 Instantly, the internet erupted. Accusations were thrown around, of course, and many wondered out loud if this was the beginning […]
As always, this video was created with the open-source version control visualization software Gource ( http://code.google.com/p/gource/ ). This time, though, I decided that annotations were old hat and none of that information has changed anyway. This time I wanted to give a grander overview of the Bitcoin development ecosystem.
To that end, this video includes visualizations of Bitcoin Core, Trezor, Armory, Electrum, Schildbach’s Android Wallet and Mycelium – all on the same time scale. Now […]
Bitcoin wallet and platform, Coinbase has added USD wallets for seven more states. When USD wallets originally launched at the end of 2014 , United States residents of only 16 states were eligible for the wallets. Today, the company services a total of 22 states and 1 US territory.
USD wallets allow verified users to purchase bitcoins instantly without the need for a credit card. Previously, Coinbase users had a wait time of up to […]
So we’ve added a new brokerage to our top brokers this week – ForexBroker Inc . We thought this company may be of interest to our user base as it not only offers bitcoin as a tradable asset, it also accepts US traders – something that very few Forex and binary options brokers are willing to do. The reasoning behind this derives from US rules and regulations regarding financial markets, but this company has […]
We are proud to announce that Bitreserve’s cloud money system now supports gold. Starting today, our members can hold their bitcoin as stable gold value and spend this historic precious metal anywhere bitcoin is accepted.
With our Gold Card, we are reviving gold for the purchase of goods and services. Bitreserve members can convert their bitcoin to bitgold, whose value is substantiated by bullion in our reserve, but still spend it as bitcoin. By […]
Our guy Sam went all the way down to Florida for NC State’s bowl game. Here are some of the sights and sounds he found.
NC State sports are within your grasp. Our broadcasts and original programing will get you closer to varsity, club and intramural sports like never before.
Watch the action unfold live via YouTube, catch a replay of a game on our campus HDTV channel (32.2) or check out the highlights from the […]
Bitcoin prices are collapsing almost as quickly as they originally skyrocketed. The average price of Bitcoin fell below $200 on Wednesday, continuing a months-long decline that has pushed prices back down to the lowest level since October 2013. The recent drop comes on the heels of the news that Bitstamp, a bitcoin exchange, reported that its wallets were compromised and had to temporarily shut down services. Bitcoin prices fell below $300 last week and […]
Elliptic, a UK-based digital currency services company, announces it had received ISAE 3402 accreditation from "Big Four" Dutch firm, KPMG.
The accreditation from KPMG followed a review and audit of Elliptic ‘s financial controls, regulatory compliance, internal access controls and other areas including code deployment, disaster recovery, segregation of duties and storage techniques. It represents an industry’s first and signified that Elliptic operates on the same standards as a custodian bank.
The accreditation is a significant […]
SilentVault’s anonymous peer-to-peer, multi-asset Bitcoin wallet and exchange platform uses sophisticated technology to enable anonymous communication and secure off-blockchain transactions for Bitcoin and Litecoin. The company is now announcing a change in personnel with the the transition of SilentVault founder Sean Daley who is leaving his position as Operations Lead to take the role of the company’s general counsel (non-practising). Law and business expert Seamus O’Pearse will take over the Operations role as of […]
Every Bitcoin user at one point or another tries out the faucets. Some love the faucets, while others move on. No matter which category you are in, choosing the right faucet makes a lot of difference. May I recommend — moonbit.co.in . Why? There is a good reason for it, read on. Bitcoin Faucets Moonbit Also, please do create an online wallet with Xapo.com , while you are at it. As the title suggests, if you want to […]
Inside U.S. v. Ulbricht. Illustration by Susie Cagle. On October 2, 2013, Ross Ulbricht was arrested at the Glen Park branch of the San Francisco Public Library, his laptop open and connected to the library wi-fi. The government claims he is the Dread Pirate Roberts, the infamous kingpin of the Silk Road, an online black market for drugs and other illicit goods. Ulbricht’s trial began today, after many delays over the last few months.
New York police arrested an 18-year-old Bitcoin trader on Tuesday after he allegedly beat his roommate to death with a hammer inside their luxury Queens apartment.
Quentin Capobianco, a Bitcoin entrepreneur and paralegal, who worked in both capacities with his roommate, attorney Jesse Smith, allegedly bludgeoned the 29-year-old following a drug-related dispute, according to a report by the New York Daily News.
Capobianco, however, maintains he did it out of self-defense, according to a DNAinfo report.The […]
Tax rules for U.S. citizens are notoriously unforgiving and notoriously expansive, even for those living abroad. They are one reason the uptick in American expatriations is continuing. In fact, given the demand, the State Department raised the fee for renunciation of U.S. citizenship from $450 to $2,350. That is more than twenty times the average level in other high-income countries. The State Department says it’s about demand on their services and all the extra workload they […]
In this episode I introduce Bitcoin, digital crypto currency independent form Government and State backing and control, a new technology that allows easy flow of funds, trade, exchange, and investment.
Looks like Russia is serious taking head-on against Bitcoin as the latest development shows that the Russian telecommunications regulator Roskomnadzor has blocked access to Seven Bitcoin-related websites. The authorities in the country believe that the cryptocurrency contributes to the growth of the shadow economy.
Earlier the number of website that were blocked by Roskomnadzor was five that included Bitcoin.org, a primary community resource for the cryptocurrency that’s run by the Bitcoin Foundation, the Bitcoin.it community […]
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Silk Road The Silk Road saga lives on, and this time, the code has been forked.
The newest Silk Road player, called Silk Road Reloaded (SRR), is distinctly different in at least two ways from previous Silk Road iterations.
First, the SRR is not run on the Tor network, as almost all other drug markets are. It is instead run on a lesser-known anonymizing network called the Invisible Internet Project , or “I2P” for short. I2P […]
CryptoDouble , a newly launched company that promised to double cryptocurrency investments within 100 hours of deposit, recently disappeared with customers’ 1,000 BTC – leaving behind nothing but an offline website.
From what we could gather from the leftover material, CryptoDouble claimed itself to be a brainchild of some really serious “investors” that were able to return twice the amount deposited. An excerpt from their dead website read: “[We] are the group of professional traders […]
Russia is apparently having a hard time making up its mind about bitcoin. One minute it’s completely against it . Then, the very law laying out the disapproval is criticized and rejected . Now, citing a court order from September 2014, the country has blacklisted several more bitcoin addresses including three with a .ru domain: coinspot.ru, hasbitcoin.ru and bitcoinconf.ru.
The relationship almost feels like a bad marriage. The couple fights, they make up, and then […]
A proposed UK bill could end anonymity in Bitcoin transactions by logging of all content accessed via UK ISPs. This will leave only services such as DarkWallet as truly anonymous options, placing them firmly in the sights of UK lawmakers seeking “the legal power to break into the encrypted communications of suspected terrorists.”
Speaking in the wake of the Paris terrorist attacks at the Charlie Hebdo offices and a kosher supermarket, UK Prime Minister David […]
Bitcoin Embassy Seoul Two new Asian ‘bitcoin embassies’ opened last week in Seoul and Tokyo, with a shared mission to bring bitcoin’s message to a more general audience.
There are now 17 such advocacy centres worldwide, in all major regions except Africa. However, the organization behind the movement is currently in negotiations to set up embassies both there and in the Middle East. Gangnam style
The Seoul centre is based at the Startup Alliance co-working space in trendy […]
NEW YORK (Reuters) – Jury selection began on Tuesday in the trial of the suspected operator of Silk Road, an online black market bazaar where users could anonymously by drugs and other illicit goods using bitcoin.
The trial in Manhattan federal court of Ross Ulbricht, 30, marks the highest-profile test yet of U.S. authorities’ efforts to crackdown on the use of the digital currency bitcoin for drug trafficking and other crimes.
Ulbricht faces seven counts including […]
Avoiding credit card chargebacks One of the biggest problems for bitcoin exchanges and their customers is often making the exchange quick and easy. Exchanges like Canadian firm Virtex made the decision a long time ago not to accept credit cards. Their biggest concern? Fraud, in the form of chargebacks.
In a credit card chargeback, a credit-card paying customer asks the issuing bank (the bank that gave them the card) to reverse a transaction made with […]
The Federal Supervision Agency for Information Technologies and Communications (Roskomnadzor in Russian) has blacklisted five Bitcoin-related websites.
Roskomnadzor has effectively blocked access to Bitcoin.org – an online community of cryptocurrency users and specialists supported by the Bitcoin Foundation – entering it into a registry of prohibited websites despite the site not having any user-submitted content.
Upon accessing Bitcoin.org, users have been receiving the following: — Access Denied. Access to the requested resource was blocked in […]
Russia’s media watchdog has blocked access to a number of bitcoin-related sites, citing a court order from 30th September.
The Federal Service for Supervision of Communications, Information Technology and Mass Media (Roskomnadzor) allows visitors to check whether or not a site is blacklisted . At press time, Bitcoin.org , Bitcoin.it , BTCsec.com and bitcoin exchange Indacoin were blacklisted.
According to TJournal.ru , Roskomnadzor cited a ruling of the district court of the city of Nevyansk, Sverdlovsk region, as […]
Bitreserve has closed its crowdfunding campaign after raising over $9m. The final total, one of the largest recorded in the digital currency sector for a crowdfunded initiative, reached $9,620,802 (£6,363,024) after 157 investors bought 11.27% of the equity offered.
Tim Parsa, Bitreserve’s president of global strategy and markets said: "It’s been a real pleasure interacting with the savvy Crowdcube and Venovate investor. Raising venture capital has been secretive and elitist for far too long. We share Crowdcube […]
Perianne Boring Talks Anti-Money Laundering Compliance and the Boot Camp Offered at TNABC Flike
G+1Pin Perianne Boring is the president of the Digital Chamber of Commerce . The chamber will be hosting an Anti-Money Laundering Boot Camp at the North American Bitcoin Conference 2015 in Miami on January 16 and 17. Boring took time from her schedule to speak with CoinTelegraph about the boot camp and the importance of compliance with AML regulations for companies […]
After a week’s break to start the new year, CoinTelegraph and content partner Coin ATM Radar are tracking some new BTMs that have been installed since New Year’s Eve in Australia, Switzerland and North America.
You can find the machines’ exact locations with Coin ATM Radar’s Bitcoin ATM map .
As of January 12, 2015, there are 337 BTMs in operation around the globe. Here are some of the newest ones. Australia Down in Tasmania, […]
Exploring the issues of structural unemployment, economic oppression, and distributed manufacturing. Technology, politics and science in the present and futu…
Bitcoin 2012 | Documentary (Italian captions) In which Eli & Birgitta discuss the pirate party, parenthood, monsanto, and solutions for some of the problems …
Bitcoin 2012 | Documentary (Italian captions)Bitcoin 2012 | Documentary (Italian captions)
Coin trading platform BitHalo has released a new feature called the “Advanced Payment,” which allows consumers to perform peer-to-peer trading via email with bitcoin and blackcoin.
BitHalo founder and lead developer David Zimberk says:
“I see great potential to expand on some of the tipping movement that’s helping very much to accelerate widespread adoption. There’s a ton of utility in the [Advanced Payment] feature… I tested it on my sister, my friend in North Dakota and […]
CEX.IO, one of the leading bitcoin exchanges and cloud mining service providers, has announced the temporary suspension of its cloud mining services . They can attribute this policy change to the sudden and drastic drop in bitcoin value in the past weeks . The suspension is set to begin at the next bitcoin mining difficulty increase and it is unclear how long the suspension will continue.
Jeffery Smilth, Chief Information Officer of CEX.IO, stated that […]
Entrepreneur, Ricardo Ferrer Rivero has developed a working prototype of a 3D-printed bitcoin payment terminal called PEY. The PEY terminal uses iBeacon technology, so that users who have the PEY app installed on their phone, will receive a push notification informing them that a local retailer accepts bitcoin payments.
Rivero’s inspiration behind creating PEY was to make it even easier for customers to pay with bitcoin. With a single swipe from their home screen, the […]
NEW YORK (Reuters) – A U.S. crackdown on use of the digital currency bitcoin for drug trafficking and other crimes is headed for its highest-profile test yet, as a trial begins for the alleged creator of an online marketplace catering to vice.
Jury selection is scheduled for Tuesday in Manhattan federal court in the case of Ross Ulbricht, who authorities say created Silk Road, an online black market where drugs and others illegal goods could […]
Cash Buys Charlie Hebdo Massacre, Bitcoin says Adieu aux Armes (Op-Ed) The Charlie Hebdo terror and other Paris attacks renew concerns about the ease with which terrorist cells in Europe can get illegal arms. Media outlets have even started to speculate that some of the arms could have been bought with Bitcoin – but reality renders such speculation groundless.
The weapons wielded by gunmen in last week’s Paris terror attacks were AK-47 rifles, the […]
Ziftr the online price comparison add-on and its altcoin offspring ziftrCOIN have teamed up with CoinTelegraph to offer our readers a chance to win bitcoins!
The winner will also receive the value-guaranteed (in their retailer network) digital currency ZiftrCOIN, which celebrates the end of its pre-sale on January 23.
ZiftrCOIN made a stir in 2014 by bringing a value guarantee to the often unstable altcoin world. When consumers conduct transactions within Ziftr’s retailer network, each […]
Internet of Coins Releases White Paper for Infrastructure That Supports Inter-Blockchain Transactions Internet of Coins, an organization striving to create an infrastructure that supports inter-blockchain transactions, announced the release of its white paper at the Bitcoin Embassy Amsterdam during its launch party on January 3, 2015.
Newly founded Internet of Coins aims to create a decentralized, self-sustaining economy by connecting different blockchains through a hybrid peer-to-peer meta-network. The system will be offering a peer-to-peer, "inter-systemic […]
Bitcoin mining service CEX.io has announced it will suspend its cloud mining activities.
The company stated in a 12th January blog post that it is no longer profitable, blaming declining revenues amid a dropping bitcoin price. CEX chief information officer Jeffrey Smith told CoinDesk that operations would resume if the price of bitcoin climbs above $320, calling the move “temporary”.
The suspension comes after CEX customers experienced disruptions to their cloud mining service, which the company at the time attributed to […]
In an announcement at the official webpage, iGaming Business, the leading publishing, research and events company for the iGaming sector, says that it has signed a deal with GoCoin to accept crypto currency including Bitcoin. The decision by the company to embrace the digital currencies is further enhancing the presence and popularity.
Nonetheless, the company says that the deal will allow it take virtual currency payments from all of its clients making it the first […]
G+2PinBitHalo announces the release of version 2.1 of its decentralized escrow client, adding a new feature that aims to compete directly with companies such as Paypal and Western Union, said the organization in an announcement.Entitled the "Advanced Payment," the new feature allows simple and secure peer-to-peer payments via email using either Bitcoin or Blackcoin.The "Advanced Payment" feature is sent from a peer that wishes to contract or send a payment to another. After both […]
Alleged drug kingpin Ross Ulbricht , who is currently facing charges of running a criminal enterprise, money laundering and drug trafficking, is set to begin his trial in Manhattan tomorrow on January 13th.
Ulbricht was arrested in the San Francisco Public Library over a year ago where he was accused of running the underground Silk Road marketplace that allowed consumers to purchase everything from weapons to fake passports with bitcoin.
It appears as though Ulbricht is […]
Embattled cryptocurrency platform Paybase is launching a buy-back scheme to match the US$20 floor that their Paycoin currency was expected to hold. Announcing a system based upon “monthly disbursements” of Bitcoin to pay for any XPY re-purchased by Paybase in the scheme, the company stated that “we seek to uphold the promises we make”.
Making the announcement on the PayBase blog, the company owned by GAW is seeking to undo the damage done to its […]
Ross Ulbricht Flike
G+2PinSome are labeling it the trial for Internet freedom, others – freedom to retain some privacy – but it will center around one man. The alleged operator of Silk Road known by his pseudonym Dread Pirate Roberts (DPR) was identified by Law Enforcement to be Ross Ulbricht and tomorrow, he will stand trial on charges ranging from drug trafficking to money laundering to running a criminal enterprise. The trial will begin at […]
The price of bitcoin (IBTimes UK) The price of bitcoin has continued to slide over the weekend, falling to as low as $265 on Sunday where it continues to hover.
Most other major cryptocurrencies have followed in bitcoin’s lead, with litecoin, dogecoin, peercoin and namecoin all falling by between 3% and 7% over the last 24 hours.
One of the biggest movers across all markets was dogecoindark. The "more secure, anonymous" evolved version of the meme-inspired […]
KPMG building Digital currency storage service Elliptic has obtained ISAE 3402 accreditation – a global standard for financial reporting – from auditing specialist KPMG.
The ISAE 3402 Type 1 or SOC1/2 review scrutinises various aspects of a business, including financial controls, regulatory compliance including AML and KYC measures, financial controls, code deployment, disaster recovery, segregation of duties and offline bitcoin storage techniques.
The UK-based storage provider says it is the first bitcoin company to receive the accreditation and that […]
Bitcoin is a digital currency created in 2009. It follows the ideas set out in a white paper by the mysterious Satoshi Nakamoto, whose true identity has yet to be verified. Bitcoin offers the promise of lower transaction fees than traditional online payment mechanisms and is operated by a decentralized authority, unlike government issued currencies.
There are no physical Bitcoins, only balances associated with public and private keys. These balances are kept on a […]
Getting those tax records together for the 2015 filing season? Don’t forget about Bitcoin.
The Internal Revenue Service (IRS) issued guidance to taxpayers in 2014 on how to treat Bitcoin – and other virtual currency – for federal income tax purposes. That guidance, IRS Notice 2014-21 , (downloads as a pdf) indicates that Bitcoin and other “convertible” virtual currencies are to be treated as a capital asset. “Convertible” virtual currencies are generally defined as virtual […]
The past 12 months have seen a veritable explosion in the number of alternative digital currencies, otherwise known as altcoins.
The numbers for exactly how many altcoins are in existence vary depending on the measure. CoinMarketCap.com lists 554 cryptocurrencies at the time of writing – up from around 67 a year ago.
According to some estimates, however, thousands of altcoins have seen some level of circulation since the bitcoin protocol first became available for use and adaptation.Many altcoins set […]
BitStamp, one of the largest Bitcoin exchanges out there in the Bitcoin ecosystem that had suspended its service after the breach resulted in the loss of around 19,000 Bitcoin with a value of some $5 million, has informed the customers that it has resumed the operations. The decision has given respite to a lot of people who smelled Mt. Gox like situation.
Mt. Gox that lost millions of dollars of the investors is still in […]
A new venture called cyberShares is launching a series of ‘sharedrops’, giving out free digital asset tokens to the users of ‘Bitcoin 2.0′ technologies such as Colored Coins, NXT, Counterparty, Bitshares, Maidsafe and Etheruem.
CyberShares assets will entitle their owners to a share in the profits of the venture, which also includes a CyberFund investment fund and cyberWallet online wallet compatible with multiple digital currency projects. The airdrop is also a prototypical model for the […]
The bitcoin blockchain can be utilized to store transaction records in its public ledger database, but that is far from its only use case.
Novel real-world applications in the fields of smart contracts and intellectual property rights , have begun to surface, providing a glimpse of the kinds of future technologies many believe cryptocurrencies can help society unlock.
Still, the most immediate use for the technology has been for payments, and with this is mind, startup Align Commerce […]
Two interesting projects have emerged recently, which could lead to the mainstream adoption of Bitcoin by the masses of regular consumers who have thus far remained ambivalent towards the digital currency – and all without them even knowing that they are using Bitcoin.
Each of these projects seeks to take Bitcoin’s advantages as a fast, low cost and trustless way to make international payments, and use them behind the scenes to improve services for people […]
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Building an infrastructure that is easy-to-use is critical if the digital currency ecosystem wants to encourage the creation of consumer-facing products.
To simplify this process, startup Neuroware has built Blockstrap – an application programming interface (API) for web designers and front-end developers that supports bitcoin and other cryptocurrencies, allowing developers who want to create well-designed crypto-based apps to plug into its HTML5 framework.
Adam Giles, CEO of Neuroware, explained that the goal is to create a blockchain-agnostic resource […]