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Patrick Ulrich

Patrick Ulrich 

Baseball fan, technology addict, political junkie

Occupation: Bitcoin and Mobile Communications Enthusiast

Birthday: 01/20/1987

Followers: 8,087

Following: -

Views: 35,880,295

Cream of the Crop: 11/11/2015

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Google Play9,797,066Join us for a special Google Play hangout with hip hop's biggest newcomer, +Kendrick Lamar (http://goo.gl/s66EK) on Wednesday, March 13. Lamar will be live from Austin's South by Southwest Festival to open up to fans about how a kid from Compton came up through the ranks to create one of 2012's most acclaimed albums, _good kid, m.A.A.d city_. Leave your questions for Kendrick using #kendricklamarhangout for a chance to have it answered on air. #kendricklamarhangout #kendricklamar #gkmc #poeticjustice #sxsw   *About the Hangout* +Kendrick Lamar was a kid growing up in Compton in the 1990s, trying to stay out of trouble. By 16, he'd recorded his first mixtape, under the name K. Dot. 2012's good kid, m.A.A.d city, Lamar's major label debut album, is a sprawling masterpiece of technical rapping and structured storytelling that defies and expands the conventions of his genre.Google Play presents: Kendrick Lamar2013-03-13 12:30:003147  

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Top posts in the last 50 posts

Most comments: 46

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2016-06-06 01:21:42 (46 comments; 0 reshares; 32 +1s; )Open 

Just noticed this on ISideWith.com. Which one would you choose?

Most plusones: 82

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2016-06-12 08:56:06 (19 comments; 0 reshares; 82 +1s; )Open 

$625 Bitcoin Average Exchange Price [ Update ]

23 months High Achieved

#Bitcoin   #XBT   #BTC  

I was wrong. $625 is good for a 23 months high. $650 is needed for a 2 years / 24 months high. Thanks to who pointed it out

Latest 50 posts

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2016-08-01 17:17:31 (0 comments; 0 reshares; 2 +1s; )Open 

Tesla and Solar City agree to a $2.6 billion merger http://engt.co/2aFNfs7

Tesla and Solar City agree to a $2.6 billion merger http://engt.co/2aFNfs7___

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2016-07-14 14:30:05 (8 comments; 0 reshares; 39 +1s; )Open 

Report: Mt Gox CEO Mark Karpeles Released On Bail

Mt Gox CEO Mark Karpeles has been released on bail 10 months after being charged with embezzlement, according to a Japanese media report.

Karpeles was charged in September amidst an investigation into the collapse of Mt Gox, the now-defunct bitcoin exchange that, at its height was the most voluminous bitcoin exchange in the world.

Mt Gox collapsed in early 2014 after it was revealed that the exchange had lost hundreds of millions of dollars in customer bitcoin.

According to local Japanese media outlet news24, Karpeles paid ¥10m (roughly $95k) prior to being released on bail. Karpeles is reportedly prohibited from leaving the country.

Report: Mt Gox CEO Mark Karpeles Released On Bail

Mt Gox CEO Mark Karpeles has been released on bail 10 months after being charged with embezzlement, according to a Japanese media report.

Karpeles was charged in September amidst an investigation into the collapse of Mt Gox, the now-defunct bitcoin exchange that, at its height was the most voluminous bitcoin exchange in the world.

Mt Gox collapsed in early 2014 after it was revealed that the exchange had lost hundreds of millions of dollars in customer bitcoin.

According to local Japanese media outlet news24, Karpeles paid ¥10m (roughly $95k) prior to being released on bail. Karpeles is reportedly prohibited from leaving the country.___

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2016-07-14 01:53:58 (6 comments; 0 reshares; 38 +1s; )Open 

New EU Directive May Impose Anti-Money Laundering Regulations on Bitcoin Wallet Providers

The European Commission published a new directive draft last week proposing to extend strict anti-money laundering (AML) regulation to both virtual currency exchange services and custodial wallet providers. Intended to counter “money launderers, tax evaders, terrorists, fraudsters and other criminals,” the directive could mean that many Bitcoin companies in the E.U. will have to apply know your customer (KYC) types of checks on their users.

The proposal, which particularly focuses on terrorist financing, intends to restrict the anonymous use of virtual currencies, presumably referring to bitcoin and altcoins.

According to the draft published by the executive arm of the European Union:

“Transactions with virtual currencies benefit from a higher degree of anonymitythan ... more »

New EU Directive May Impose Anti-Money Laundering Regulations on Bitcoin Wallet Providers

The European Commission published a new directive draft last week proposing to extend strict anti-money laundering (AML) regulation to both virtual currency exchange services and custodial wallet providers. Intended to counter “money launderers, tax evaders, terrorists, fraudsters and other criminals,” the directive could mean that many Bitcoin companies in the E.U. will have to apply know your customer (KYC) types of checks on their users.

The proposal, which particularly focuses on terrorist financing, intends to restrict the anonymous use of virtual currencies, presumably referring to bitcoin and altcoins.

According to the draft published by the executive arm of the European Union:

“Transactions with virtual currencies benefit from a higher degree of anonymity than classical financial fund transfers and therefore entail a risk that virtual currency may be used by terrorist organizations to conceal financial transfers. Possible further risks relate to the irreversibility of transactions, means of dealing with fraudulent operations, the opaque and technologically complex nature of the industry, and the lack of regulatory safeguards.”

As such, the European Commission recommends that existing anti-money laundering regulation should apply to virtual currency services, and, in particular, to exchanges and custodial wallet providers.___

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2016-07-09 17:00:51 (22 comments; 0 reshares; 68 +1s; )Open 

Bitcoin's block reward has dropped to 12.5

The Bitcoin network was designed to produce, or 'mine', a steady stream of new coins around every ten minutes – from its beginnings in January 2009 to some time in the year 2140. Mining operations around the world help secure the network and keep it functioning, and for this task they are rewarded with the new bitcoins.

But there's a twist. At every 210,000th block (which takes just under 4 years each time) the number of bitcoins in that reward halves. Originally 50 BTC every ten minutes, it became 25 BTC on 28 November 2012. The next halving, from 25 BTC to 12.5 BTC, just occurred with block 420,000.

Bitcoin's block reward has dropped to 12.5

The Bitcoin network was designed to produce, or 'mine', a steady stream of new coins around every ten minutes – from its beginnings in January 2009 to some time in the year 2140. Mining operations around the world help secure the network and keep it functioning, and for this task they are rewarded with the new bitcoins.

But there's a twist. At every 210,000th block (which takes just under 4 years each time) the number of bitcoins in that reward halves. Originally 50 BTC every ten minutes, it became 25 BTC on 28 November 2012. The next halving, from 25 BTC to 12.5 BTC, just occurred with block 420,000.___

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2016-07-09 13:47:02 (4 comments; 0 reshares; 68 +1s; )Open 

Happy Halving Day!

Happy Halving Day!___

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2016-07-08 05:15:55 (5 comments; 0 reshares; 48 +1s; )Open 

North Carolina Governor Signs Bitcoin Bill Into Law

North Carolina Governor Pat McCrory signed 16 bills into law today, one of which was House Bill 289, which expands the state’s Money Transmitters Act to cover activities related to bitcoin and other blockchain-based digital currencies.

Introduced in 2015, the passage of the law represents the fruition of more than a year of engagement between members of the US blockchain and digital currency industry and local regulators. Though the bill has not been without criticism, in interviews with CoinDesk, prominent advocacy groups largely voiced support for the measure as a step forward for the domestic industry.

Perianne Boring, president of the Chamber of Digital Commerce (CDC), one of the strongest advocates for the bill, sought to position the law as one that had "made history" by providing an alternative,l... more »

North Carolina Governor Signs Bitcoin Bill Into Law

North Carolina Governor Pat McCrory signed 16 bills into law today, one of which was House Bill 289, which expands the state’s Money Transmitters Act to cover activities related to bitcoin and other blockchain-based digital currencies.

Introduced in 2015, the passage of the law represents the fruition of more than a year of engagement between members of the US blockchain and digital currency industry and local regulators. Though the bill has not been without criticism, in interviews with CoinDesk, prominent advocacy groups largely voiced support for the measure as a step forward for the domestic industry.

Perianne Boring, president of the Chamber of Digital Commerce (CDC), one of the strongest advocates for the bill, sought to position the law as one that had "made history" by providing an alternative, legislative-based model to industry-specific rule-making.___

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2016-07-08 01:57:05 (3 comments; 0 reshares; 35 +1s; )Open 

Uber has found a clever way to bypass a roadblock in Argentina involving bitcoin

Uber is facing strong opposition in Buenos Aires, where the company has been operating since mid-April without a permit or tax-identification number. The massively funded startup is being sued by taxi unions. City officials have issued multiple injunctions attempting to bring its service to a halt. And credit card companies have been blocked from processing Uber payments on locally registered cards.

It takes more than that to stop Uber, however.

The ride-hailing company is working with bitcoin startup Xapo to circumvent the credit card roadblock, one of its more pressing barriers to service in Argentina. Xapo helps consumers buy, store, and spend bitcoin, a virtual currency. One of the ways it does this is with the Xapo card, a Visa-branded debit card that allows its holders to spend... more »

Uber has found a clever way to bypass a roadblock in Argentina involving bitcoin

Uber is facing strong opposition in Buenos Aires, where the company has been operating since mid-April without a permit or tax-identification number. The massively funded startup is being sued by taxi unions. City officials have issued multiple injunctions attempting to bring its service to a halt. And credit card companies have been blocked from processing Uber payments on locally registered cards.

It takes more than that to stop Uber, however.

The ride-hailing company is working with bitcoin startup Xapo to circumvent the credit card roadblock, one of its more pressing barriers to service in Argentina. Xapo helps consumers buy, store, and spend bitcoin, a virtual currency. One of the ways it does this is with the Xapo card, a Visa-branded debit card that allows its holders to spend their bitcoin with any merchant who accepts Visa.___

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2016-07-06 15:04:22 (10 comments; 0 reshares; 26 +1s; )Open 

Startups seek to de-anonymize Bitcoin to fight crime

Startups in the UK and US are claiming that they're able to strip Bitcoin users of some of their anonymity to fight online crime. Reuters is reporting that London-based company Elliptic has teamed up with the Internet Watch Foundation to stop the cryptocurrency being used to buy child pornography. The IWF is supplying Elliptic with Bitcoin addresses which are believed to be involved with online child abuse. The startup, which monitors transactions at some of the US and Europe's biggest exchanges, will check future purchases against this list. If any of the suspect addresses are found to match, Elliptic will raise the alarm to partners as well as law enforcement agencies.

Over in the US, a Seattle-based startup called CoinLab claims that it's developed a piece of software, Oden, that can monitor a person's... more »

Startups seek to de-anonymize Bitcoin to fight crime

Startups in the UK and US are claiming that they're able to strip Bitcoin users of some of their anonymity to fight online crime. Reuters is reporting that London-based company Elliptic has teamed up with the Internet Watch Foundation to stop the cryptocurrency being used to buy child pornography. The IWF is supplying Elliptic with Bitcoin addresses which are believed to be involved with online child abuse. The startup, which monitors transactions at some of the US and Europe's biggest exchanges, will check future purchases against this list. If any of the suspect addresses are found to match, Elliptic will raise the alarm to partners as well as law enforcement agencies.

Over in the US, a Seattle-based startup called CoinLab claims that it's developed a piece of software, Oden, that can monitor a person's Bitcoin activity. Unfortunately for Bitcoin evangelists, the company claims that the majority of transactions come from one of two places: online gambling or the darknet. The background to the story is that CoinLab, which incubates Bitcoin-related businesses, sued Mt. Gox in 2013. The firm alleges that Gox chief Mark Karpeles hid a quantity of the cryptocurrency in his own pockets to defraud customers. As a consequence, CoinLab says that it began developing Oden as a way of tracing the blockchain for "bad money movements."___

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2016-06-30 23:08:50 (2 comments; 0 reshares; 14 +1s; )Open 

Tesla under investigation after first Autopilot-related death

The NHTSA (National Highway Traffic Safety Administration) is investigating a collision that occurred when a Tesla Model S in Autopilot mode crashed into a tractor trailer resulting in the death of the driver. This is the first fatality linked to the automaker's vehicles while in the semi-autonomous driving mode.

^According to Tesla, the Model S was traveling down a divided highway when a tractor trailer crossed perpendicular to the path of the car. Neither the driver nor Autopilot applied the brakes. The automaker believes that the combination of a white trailer and brightly lit sky may have made the trailer difficult to see._

Because of the height of the trailer, the windshield of the car struck the truck's container as the vehicle passed under it. Tesla believes that its "advanced crash... more »

Tesla under investigation after first Autopilot-related death

The NHTSA (National Highway Traffic Safety Administration) is investigating a collision that occurred when a Tesla Model S in Autopilot mode crashed into a tractor trailer resulting in the death of the driver. This is the first fatality linked to the automaker's vehicles while in the semi-autonomous driving mode.

^According to Tesla, the Model S was traveling down a divided highway when a tractor trailer crossed perpendicular to the path of the car. Neither the driver nor Autopilot applied the brakes. The automaker believes that the combination of a white trailer and brightly lit sky may have made the trailer difficult to see._

Because of the height of the trailer, the windshield of the car struck the truck's container as the vehicle passed under it. Tesla believes that its "advanced crash safety system" would have prevented any serious injury if the front of the Model S had the hit truck itself.

Tesla's Autopilot mode is still in beta and the automaker reminds drivers that they need to keep their hands on the wheel and continue to pay attention to the road and be prepared to take control of the vehicle.___

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2016-06-30 23:03:33 (5 comments; 0 reshares; 26 +1s; )Open 

Abra Launches Blockchain Remittance App in US

After months of small-scale testing in the Philippines, blockchain payments app Abra launched in the US market today.

The expansion comes after CoinDesk learned details of an aggressive expansion plan in place at the startup, which to date has garnered $14m in venture funding to expand to more than 20 markets by 2017. The firm raised $12m in a Series A funding round last fall.

CEO Bill Barhydt, a former director for web browser Netscape, pointed to the US market as "the hub" from which the startup plans to connect to other markets worldwide, a factor that made it the next logical place for expansion.

https://play.google.com/store/apps/details?id=com.plutus.wallet

Abra Launches Blockchain Remittance App in US

After months of small-scale testing in the Philippines, blockchain payments app Abra launched in the US market today.

The expansion comes after CoinDesk learned details of an aggressive expansion plan in place at the startup, which to date has garnered $14m in venture funding to expand to more than 20 markets by 2017. The firm raised $12m in a Series A funding round last fall.

CEO Bill Barhydt, a former director for web browser Netscape, pointed to the US market as "the hub" from which the startup plans to connect to other markets worldwide, a factor that made it the next logical place for expansion.

https://play.google.com/store/apps/details?id=com.plutus.wallet___

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2016-06-30 14:35:13 (0 comments; 0 reshares; 0 +1s; )Open 

How sweet would it be if they followed suit for the Galaxy Note 6/7? Open sales immediately after announcement with the unlocked variant, please take my money!

Samsung releases unlocked Galaxy S7 phones in the US http://engt.co/29c5i9D___How sweet would it be if they followed suit for the Galaxy Note 6/7? Open sales immediately after announcement with the unlocked variant, please take my money!

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2016-06-30 14:32:55 (2 comments; 0 reshares; 30 +1s; )Open 

Winklevoss Bitcoin Trust dumped NASDAQ for the largest market operator for exchange-traded funds, BATS

On Wednesday the Winklevoss twins filed a sixth amendment to their Securities and Exchange Commission (SEC) registration for the Winklevoss Bitcoin Trust. The amendment includes two major changes, the price and their chosen exchange.

Cameron Winklevoss, CEO of the Trust, originally filed the Winklevoss Bitcoin Trust Registration Statement with the SEC on July 1, 2013. An amendment on May 8, 2014, named NASDAQ as the chosen exchange for trading. On July 1, 2014, a further amendment was revealed that the shares will be traded under the symbol “COIN.”

The most recent amendment swaps out NASDAQ for Bats BZX Exchange Inc. (BATS), a relatively new global equity market exchange located in Kansas.

Winklevoss Bitcoin Trust dumped NASDAQ for the largest market operator for exchange-traded funds, BATS

On Wednesday the Winklevoss twins filed a sixth amendment to their Securities and Exchange Commission (SEC) registration for the Winklevoss Bitcoin Trust. The amendment includes two major changes, the price and their chosen exchange.

Cameron Winklevoss, CEO of the Trust, originally filed the Winklevoss Bitcoin Trust Registration Statement with the SEC on July 1, 2013. An amendment on May 8, 2014, named NASDAQ as the chosen exchange for trading. On July 1, 2014, a further amendment was revealed that the shares will be traded under the symbol “COIN.”

The most recent amendment swaps out NASDAQ for Bats BZX Exchange Inc. (BATS), a relatively new global equity market exchange located in Kansas.___

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2016-06-29 11:28:18 (3 comments; 0 reshares; 49 +1s; )Open 

North Carolina Senate Approves Bitcoin Bill

The North Carolina General Assembly yesterday passed an update to the state's Money Transmitters Act, which now mandates that companies working with bitcoin and other cryptocurrencies obtain a money transmitter license.

The bill replaces the current statutory article pertaining to money transmission licenses, incorporating much of the existing law and explicitly identifying virtual currencies such as bitcoin as subject to the law.

The state of North Carolina charges $1,500 to apply for a money transmitter license in addition to a base amount of at least $5,000 for an annual assessment.

North Carolina Senate Approves Bitcoin Bill

The North Carolina General Assembly yesterday passed an update to the state's Money Transmitters Act, which now mandates that companies working with bitcoin and other cryptocurrencies obtain a money transmitter license.

The bill replaces the current statutory article pertaining to money transmission licenses, incorporating much of the existing law and explicitly identifying virtual currencies such as bitcoin as subject to the law.

The state of North Carolina charges $1,500 to apply for a money transmitter license in addition to a base amount of at least $5,000 for an annual assessment.___

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2016-06-28 03:54:41 (3 comments; 0 reshares; 30 +1s; )Open 

ItBit Explores Adding Ether to Bitcoin Exchange

ItBit is considering whether to add support for ether, the native cryptocurrency of ethereum, to its digital currency exchange, according to its CEO.

In an interview last week, CEO Charles Cascarilla reported that itBit doesn’t currently deal in ether via its exchange or over-the-counter trading offerings. However, he suggested this could change following moves from competitors Coinbase and Gemini, both of which recently added support for ether.

ItBit Explores Adding Ether to Bitcoin Exchange

ItBit is considering whether to add support for ether, the native cryptocurrency of ethereum, to its digital currency exchange, according to its CEO.

In an interview last week, CEO Charles Cascarilla reported that itBit doesn’t currently deal in ether via its exchange or over-the-counter trading offerings. However, he suggested this could change following moves from competitors Coinbase and Gemini, both of which recently added support for ether.___

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2016-06-25 08:18:34 (8 comments; 0 reshares; 31 +1s; )Open 

Segregated Witness Will Be Merged Into Bitcoin Core Release Soon

During a Bitcoin Core development meeting on Thursday, it was decided that the code for Segregated Witness (SegWit) is ready to be merged into the master branch. According to Bitcoin Core contributor Eric Lombrozo, the merge is expected to take place in the coming days.

Segregated Witness is an improvement to the Bitcoin protocol that enables a variety of new features and enhancements to the network. Much of the Bitcoin community is excited about this change due to its effective increase to the Bitcoin block size limit to roughly 1.7 megabytes.

In addition to the effective block size limit increase, there are also a multitude of other advantages associated with this protocol change. Segregated Witness fixes the well-known transaction malleability issue, which was infamously blamed by former Mt. Gox CEO... more »

Segregated Witness Will Be Merged Into Bitcoin Core Release Soon

During a Bitcoin Core development meeting on Thursday, it was decided that the code for Segregated Witness (SegWit) is ready to be merged into the master branch. According to Bitcoin Core contributor Eric Lombrozo, the merge is expected to take place in the coming days.

Segregated Witness is an improvement to the Bitcoin protocol that enables a variety of new features and enhancements to the network. Much of the Bitcoin community is excited about this change due to its effective increase to the Bitcoin block size limit to roughly 1.7 megabytes.

In addition to the effective block size limit increase, there are also a multitude of other advantages associated with this protocol change. Segregated Witness fixes the well-known transaction malleability issue, which was infamously blamed by former Mt. Gox CEO Mark Karpeles for the loss of user funds. A fix for this longstanding bug in the Bitcoin protocol is also required for the Lightning Network, perhaps Bitcoin’s most promising scaling solution, to function properly.

UPDATE: SegWit has been merged!___

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2016-06-25 08:07:56 (4 comments; 0 reshares; 36 +1s; )Open 

31 Chinese Firms Form Financial Blockchain Consortium

Chinese financial services firm Ping An Bank and a subsidiary of QQ instant message app maker Tencent are among more than 30 technology and financial firms in China that have formed a new consortium dedicated to blockchain tech.

The Financial Blockchain Shenzhen Consortium was officially launched on 31st May during an event in Shenzhen, a development that marks the latest business alliance to collectively explore applications of the technology. Ping An itself is a member of the R3-led consortium of global financial institutions, and in the past year and a half, working organizations have formed around securities settlement and capital markets use cases.

In addition to Ping An and the Tencent subsidiary, the 31-member strong group features a wide spectrum of finance and tech firms. Areas of focus among its... more »

31 Chinese Firms Form Financial Blockchain Consortium

Chinese financial services firm Ping An Bank and a subsidiary of QQ instant message app maker Tencent are among more than 30 technology and financial firms in China that have formed a new consortium dedicated to blockchain tech.

The Financial Blockchain Shenzhen Consortium was officially launched on 31st May during an event in Shenzhen, a development that marks the latest business alliance to collectively explore applications of the technology. Ping An itself is a member of the R3-led consortium of global financial institutions, and in the past year and a half, working organizations have formed around securities settlement and capital markets use cases.

In addition to Ping An and the Tencent subsidiary, the 31-member strong group features a wide spectrum of finance and tech firms. Areas of focus among its membership include capital markets technology, securities exchange, trading platforms, life insurance and banking – all of which have been identified as potential areas for applying blockchain tech.___

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2016-06-25 07:49:35 (1 comments; 0 reshares; 30 +1s; )Open 

21 Unveils Vision for Bitcoin-Powered Weather Data Market

Bitcoin’s best-funded startup, 21 Inc, has unveiled a new proof-of-concept aimed at providing an illustration of how its bitcoin hardware and software can create new ways for data to be collected and monetized.

Called Sensor21, the prototype outlines specifically how a precision altimeter can work with a 21 Bitcoin Computer to create a miniaturized weather tracker capable of monitoring data points such as air pressure, altitude and temperature.

Using such a network, 21 contends that these devices can be made to query other cities to determine their data. Further, by gathering data from more than one location, users could collectively build a comprehensive weather map for a particular region.

21 Unveils Vision for Bitcoin-Powered Weather Data Market

Bitcoin’s best-funded startup, 21 Inc, has unveiled a new proof-of-concept aimed at providing an illustration of how its bitcoin hardware and software can create new ways for data to be collected and monetized.

Called Sensor21, the prototype outlines specifically how a precision altimeter can work with a 21 Bitcoin Computer to create a miniaturized weather tracker capable of monitoring data points such as air pressure, altitude and temperature.

Using such a network, 21 contends that these devices can be made to query other cities to determine their data. Further, by gathering data from more than one location, users could collectively build a comprehensive weather map for a particular region.___

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2016-06-24 23:45:58 (2 comments; 0 reshares; 4 +1s; )Open 

So much for that old Bill of Rights document, we have new expectations now. /s

Judge says the FBI can hack your computer without a warrant http://engt.co/28WlYS9___So much for that old Bill of Rights document, we have new expectations now. /s

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2016-06-24 07:05:50 (7 comments; 0 reshares; 49 +1s; )Open 

Bitcoin's biggest Venture Capital deals of 2016 so far

Publicly-announced Venture Capital investments into Bitcoin and blockchain-related startups have more than doubled in amount during the first half of 2016 compared to last half of 2015, with about US$265.05 million invested now versus only $111.85 million for the previous half-year. Compared to the first half of 2015, however, this year has so far been a bit slow, raising 79% as much as during the same period last year, which included the industry's record investment and quarter.

The number of bitcoin-related business funding deals in 2016 is down by about half compared to the same time period last year too, but with one interesting difference: All but three of the $1m and larger deals in 2016 so far have been for companies outside of the U.S., signalling that Silicon Valley is no longer the home of most bitcoin... more »

Bitcoin's biggest Venture Capital deals of 2016 so far

Publicly-announced Venture Capital investments into Bitcoin and blockchain-related startups have more than doubled in amount during the first half of 2016 compared to last half of 2015, with about US$265.05 million invested now versus only $111.85 million for the previous half-year. Compared to the first half of 2015, however, this year has so far been a bit slow, raising 79% as much as during the same period last year, which included the industry's record investment and quarter.

The number of bitcoin-related business funding deals in 2016 is down by about half compared to the same time period last year too, but with one interesting difference: All but three of the $1m and larger deals in 2016 so far have been for companies outside of the U.S., signalling that Silicon Valley is no longer the home of most bitcoin startups.

Often compared to the momentum of the early internet boom, the investment activity in the Bitcoin industry has been a great indicator of the industry's adoption. BraveNewCoin's new Venture Capital investments resource page tracks investment activity in the space by quarter and year, updated weekly.___

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2016-06-24 06:37:50 (7 comments; 0 reshares; 54 +1s; )Open 

Bitcoin Price Spikes to $650 as Outlook Shifts for ‘Brexit’

The price of bitcoin is rising at press time, passing the $650 mark just a day after dropping to a weekly low of $550.

Though there were suggestions the volatility could be tied to any number of recent indicators, at press time, ongoing macroeconomic concerns in Europe seem to be the most influential factor, as the price of bitcoin began to rise amid reports that the UK appears increasingly likely to leave the European Union.

The UK’s ongoing EU membership referendum, in which voters were asked whether the country should stay (‘Bremain’) or leave (‘Brexit’) the European Union, has coincided with the increase in the price of bitcoin from a low of $560 just hours prior to a press time high of $655.63.

With 54.5% of the vote tallied at press time, data from the UK Telegraph indicated51.4% of vote... more »

Bitcoin Price Spikes to $650 as Outlook Shifts for ‘Brexit’

The price of bitcoin is rising at press time, passing the $650 mark just a day after dropping to a weekly low of $550.

Though there were suggestions the volatility could be tied to any number of recent indicators, at press time, ongoing macroeconomic concerns in Europe seem to be the most influential factor, as the price of bitcoin began to rise amid reports that the UK appears increasingly likely to leave the European Union.

The UK’s ongoing EU membership referendum, in which voters were asked whether the country should stay (‘Bremain’) or leave (‘Brexit’) the European Union, has coincided with the increase in the price of bitcoin from a low of $560 just hours prior to a press time high of $655.63.

With 54.5% of the vote tallied at press time, data from the UK Telegraph indicated 51.4% of voters had voiced their support for a ‘Brexit’, with just 48.6% siding for ‘Bremain’.___

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2016-06-23 07:03:24 (2 comments; 0 reshares; 18 +1s; )Open 

Circle takes $60M to grow its social payments biz globally, as it steps into China

How do you compete with China’s homegrown social payments giants? Veteran entrepreneur Jeremy Allaire, co-founder of US based social payments app Circle, reckons you don’t; not like for like in the domestic Chinese market.

Which is really the sensible view, given that WeChat Pay was already seeing some $50 billion in monthly transaction volume back in March. Meanwhile the older Alipay service was doing some $520 billion annually as far back as 2013. The opportunity to crack into this market as small fry seems sizzled to a non-existent crisp. It’s the Chinese startups who are the pioneers here, not vice versa.

Despite that, Circle is now stepping into China — revealing today it’s set up a separate company, called Circle China, with the aim of serving Chinese consumers.
Also to... more »

Circle takes $60M to grow its social payments biz globally, as it steps into China

How do you compete with China’s homegrown social payments giants? Veteran entrepreneur Jeremy Allaire, co-founder of US based social payments app Circle, reckons you don’t; not like for like in the domestic Chinese market.

Which is really the sensible view, given that WeChat Pay was already seeing some $50 billion in monthly transaction volume back in March. Meanwhile the older Alipay service was doing some $520 billion annually as far back as 2013. The opportunity to crack into this market as small fry seems sizzled to a non-existent crisp. It’s the Chinese startups who are the pioneers here, not vice versa.

Despite that, Circle is now stepping into China — revealing today it’s set up a separate company, called Circle China, with the aim of serving Chinese consumers.

Also today it’s announcing a $60 million Series D, including from a syndicate of Chinese strategic investors, to fuel growth of its global business as a whole. The round is led by existing investor and Beijing ­based VC IDG Capital Partners, along with Breyer Capital, General Catalyst Partners and what it dubs “a powerful syndicate of major strategic partners” in China, including Baidu, CICC Alpha, EverBright Investments, Wanxiang and CreditEase. Also investing in a personal capacity: Sam Palmisano, former chairman and CEO of IBM, and Glenn Hutchins, co­-founder of SilverLake and also a private equity investor.___

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2016-06-23 06:40:11 (1 comments; 0 reshares; 18 +1s; )Open 

Bitcoin Price Drops $100 As ‘Brexit’ Hopes Falter

The price of bitcoin fell $100 during a five-hour span today, dropping 15% to reach a low of $551 on the CoinDesk Bitcoin Price Index (BPI).

The move represents a continuation of the recent price correction that began when bitcoin hit a high of $774 on 18th June, a move market observers suggested indicated the digital currency was “overbought” after reaching two-year highs.

Such a sentiment continued to be voiced by market observers today following the day’s sharp price drop, with blockchain advisor and consultant George Samman indicating the currency's value increased "too fast" this month, and that as a result, price support is now weakening.

Bitcoin Price Drops $100 As ‘Brexit’ Hopes Falter

The price of bitcoin fell $100 during a five-hour span today, dropping 15% to reach a low of $551 on the CoinDesk Bitcoin Price Index (BPI).

The move represents a continuation of the recent price correction that began when bitcoin hit a high of $774 on 18th June, a move market observers suggested indicated the digital currency was “overbought” after reaching two-year highs.

Such a sentiment continued to be voiced by market observers today following the day’s sharp price drop, with blockchain advisor and consultant George Samman indicating the currency's value increased "too fast" this month, and that as a result, price support is now weakening.___

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2016-06-23 06:37:48 (1 comments; 0 reshares; 19 +1s; )Open 

DAO Disaster Continues: Attacker Counter-Attacks Ethereum Developers As Race to Control Funds Escalates

The situation at The DAO is continuing to escalate.

The most visible distributed autonomous organization on the ethereum network, which once held $160m worth of the cryptocurrency ether, has now seen these funds dispersed to several different accounts.

Complicating matters is that the owners of these accounts are, at present, unknown.

The heightened uncertainty follows actions taken by a group of ethereum developers, who launched a "Robin Hood" effort to gain control of the funds. The effort was said to be aimed at safeguarding The DAO’s ether holdings following a new attack, a separate incident from the one that originally compromised investor holdings.

DAO Disaster Continues: Attacker Counter-Attacks Ethereum Developers As Race to Control Funds Escalates

The situation at The DAO is continuing to escalate.

The most visible distributed autonomous organization on the ethereum network, which once held $160m worth of the cryptocurrency ether, has now seen these funds dispersed to several different accounts.

Complicating matters is that the owners of these accounts are, at present, unknown.

The heightened uncertainty follows actions taken by a group of ethereum developers, who launched a "Robin Hood" effort to gain control of the funds. The effort was said to be aimed at safeguarding The DAO’s ether holdings following a new attack, a separate incident from the one that originally compromised investor holdings.___

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2016-06-22 13:04:13 (2 comments; 0 reshares; 11 +1s; )Open 

A Legal Analysis of the DAO Exploit and Possible Investor Rights

News broke early Friday morning that the DAO had been exploited using a code error (first described by Peter Vessenes) in the DAO software that caused the exploiter of the DAO (“Exploiter”) to be paid extra amounts of Ether (“ETH”) held by the DAO when executing a split proposal which created a new child DAO containing the extra ETH taken from the DAO and placed that child DAO within the Exploiter’s control.

Unlike mass consumer software, which is typically rigorously tested before release, the DAO was released more or less in alpha or beta condition. This means that it had likely not been robustly tested and was likely to encounter error states or behavioral outputs not yet observed. Although I cannot speak specifically to Slock.it’s quality control efforts, even large software development companiesrelease bug... more »

A Legal Analysis of the DAO Exploit and Possible Investor Rights

News broke early Friday morning that the DAO had been exploited using a code error (first described by Peter Vessenes) in the DAO software that caused the exploiter of the DAO (“Exploiter”) to be paid extra amounts of Ether (“ETH”) held by the DAO when executing a split proposal which created a new child DAO containing the extra ETH taken from the DAO and placed that child DAO within the Exploiter’s control.

Unlike mass consumer software, which is typically rigorously tested before release, the DAO was released more or less in alpha or beta condition. This means that it had likely not been robustly tested and was likely to encounter error states or behavioral outputs not yet observed. Although I cannot speak specifically to Slock.it’s quality control efforts, even large software development companies release buggy code. However, the law strongly regulates financial services software to prevent software laden with exploits that an affect consumer funds. The Exploiter took advantage of a bug that was widely discussed by such crypto-luminaries as Nick Szabo (Ethereum/Bitcoin), Zooko Wilcox-O’Hearn (Zcash), Emin Gün Sirer (Professor at Cornell University) and Diego Gutiérrez Zaldívar (CEO of RSK-Labs, Rootstock), among others prior to the exploit occurring. From this context, the exploit should have been considered inevitable, especially given the attractiveness of the DAO and its ETH holdings worth over $205 million USD at the time of the attack, as a target. Of course, the relative rights and powers of parties to remedy this exploit is complicated to diagnose because of the unique structure of the DAO and because the Exploiter may have actually complied with all terms and conditions of the DAO’s use and, thus, may not be doing anything more than executing commands on the system resulting in an unexpected and/or undesired outcome.

In that context, we’ll take a look at the potential rights of Investors (i.e. DAO Token holders), the Exploiter his/herself/themselves, and of the Ethereum Foundation with respect to the exploit.

Important Disclaimer: NOTHING HEREIN IS INTENDED TO BE UNDERSTOOD AS LEGAL ADVICE. CONSULT A LAWYER QUALIFIED TO PROVIDE LEGAL ADVICE IN YOUR JURISDICTION.___

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2016-06-21 18:20:46 (4 comments; 0 reshares; 25 +1s; )Open 

Winklevoss twins open Gemini bitcoin exchange in London

Gemini, the virtual currency exchange founded by businessmen Cameron and Tyler Winklevoss, is expanding into the UK, the company announced on Tuesday.

The Winklevoss twins launched the company last October, when the New York State Department of Financial Services authorized its operations in 31 states as well as in Washington, DC.

Gemini allows users to buy and sell the digital currency like bitcoin and its rival ether.

Earlier this month, Gemini expanded to Canada, joining half a dozen local bitcoin exchanges, such as Taurus and QuadrigaCX.

Winklevoss twins open Gemini bitcoin exchange in London

Gemini, the virtual currency exchange founded by businessmen Cameron and Tyler Winklevoss, is expanding into the UK, the company announced on Tuesday.

The Winklevoss twins launched the company last October, when the New York State Department of Financial Services authorized its operations in 31 states as well as in Washington, DC.

Gemini allows users to buy and sell the digital currency like bitcoin and its rival ether.

Earlier this month, Gemini expanded to Canada, joining half a dozen local bitcoin exchanges, such as Taurus and QuadrigaCX.___

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2016-06-21 18:14:14 (2 comments; 0 reshares; 23 +1s; )Open 

Solar-storm: A security exploit with Ethereum, not just the DAO

Another exploit in Solidity, a JavaScript-like language that Ethereum uses for smart contracts, has been discovered that can impact any Ethereum contract, not just the DAO.

Ethereum contracts call out to other contracts routinely. This practice is encouraged by the community with a vision of smart contracts everywhere talking to each other.

Turns out that when an Ethereum contract talks to another contract, it can lose its own program control and state. This vulnerability was discovered by Joey Krug and Martin Köppelmann, and publicized by Philip Daian, a PhD student at Cornell studying with Emin Gun Sirer.

Solar-storm: A security exploit with Ethereum, not just the DAO

Another exploit in Solidity, a JavaScript-like language that Ethereum uses for smart contracts, has been discovered that can impact any Ethereum contract, not just the DAO.

Ethereum contracts call out to other contracts routinely. This practice is encouraged by the community with a vision of smart contracts everywhere talking to each other.

Turns out that when an Ethereum contract talks to another contract, it can lose its own program control and state. This vulnerability was discovered by Joey Krug and Martin Köppelmann, and publicized by Philip Daian, a PhD student at Cornell studying with Emin Gun Sirer.___

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2016-06-21 16:04:38 (0 comments; 0 reshares; 31 +1s; )Open 

Silk Road-Related Auction, Bitfinex Timeout Responsible for Slide in Bitcoin Price

A maintenance delay in the leading Bitcoin trading platform and the auctioning off about $19 mln worth of Silk-Road-related Bitcoins in Australia could have been responsible for the drop in the price of Bitcoin on Monday and Tuesday.

From a range of as high as $760 over the weekend, the currency dropped to $698 on Monday.

Silk Road-Related Auction, Bitfinex Timeout Responsible for Slide in Bitcoin Price

A maintenance delay in the leading Bitcoin trading platform and the auctioning off about $19 mln worth of Silk-Road-related Bitcoins in Australia could have been responsible for the drop in the price of Bitcoin on Monday and Tuesday.

From a range of as high as $760 over the weekend, the currency dropped to $698 on Monday.___

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2016-06-21 02:39:05 (5 comments; 0 reshares; 16 +1s; )Open 

$19 Million in Bitcoin Hits the Auction Block in Australia

More than $19m worth of bitcoin is now being sold at auction in a public sale overseen by professional services firm Ernst & Young.

Announced on 30th May, the auction finds E&Y auctioning 25,518 BTC (worth roughly $19m at press time) over a 48-hour period that began at 12:01am AEST today. As previously reported, the bitcoins were confiscated by law enforcement officials from an Australian native in late 2014 in connection with a narcotics investigation.

But with bitcoin trading at two-year highs, just who is interested in the auction and whether it draws the same number of high-profile participants as major US auctions, remains to be seen.

$19 Million in Bitcoin Hits the Auction Block in Australia

More than $19m worth of bitcoin is now being sold at auction in a public sale overseen by professional services firm Ernst & Young.

Announced on 30th May, the auction finds E&Y auctioning 25,518 BTC (worth roughly $19m at press time) over a 48-hour period that began at 12:01am AEST today. As previously reported, the bitcoins were confiscated by law enforcement officials from an Australian native in late 2014 in connection with a narcotics investigation.

But with bitcoin trading at two-year highs, just who is interested in the auction and whether it draws the same number of high-profile participants as major US auctions, remains to be seen.___

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2016-06-20 16:28:33 (0 comments; 0 reshares; 28 +1s; )Open 

Caricoin Launches Bitcoin Wallet for the Financially Underserved in the Caribbean

U.K.-based Bitcoin startup Caricoin recently announced the launch of a Bitcoin wallet for the Caribbean. The wallet has been developed in partnership with Palo Alto-based blockchain security company BitGo.

According to a press release by the company, the wallet will provide a mobile money solution to users in the Caribbean where access to traditional banking is limited. The wallet combines elements of social messaging platforms with remittance via Bitcoin. It allows senders and receivers to chat with each other and also comes with the ability to top-up mobile phones with prepaid minutes anywhere within the Caribbean.

Speaking toBitcoin Magazine, Karsten Becker, CEO of Caricoin, said wallet was developed as an alternative to the traditional banking services for the Caribbean where,... more »

Caricoin Launches Bitcoin Wallet for the Financially Underserved in the Caribbean

U.K.-based Bitcoin startup Caricoin recently announced the launch of a Bitcoin wallet for the Caribbean. The wallet has been developed in partnership with Palo Alto-based blockchain security company BitGo.

According to a press release by the company, the wallet will provide a mobile money solution to users in the Caribbean where access to traditional banking is limited. The wallet combines elements of social messaging platforms with remittance via Bitcoin. It allows senders and receivers to chat with each other and also comes with the ability to top-up mobile phones with prepaid minutes anywhere within the Caribbean.

Speaking toBitcoin Magazine, Karsten Becker, CEO of Caricoin, said wallet was developed as an alternative to the traditional banking services for the Caribbean where, according to World Bank 2015 Global Findex Report, nearly 50 percent of the population is unbanked.___

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2016-06-20 15:31:38 (2 comments; 0 reshares; 58 +1s; )Open 

Australian 'bitcoin founder' quietly bidding for patent empire

Craig Wright, the Australian who claimed to be the inventor of bitcoin, is attempting to build a large patent portfolio around the digital currency and technology underpinning it, according to associates of his and documents reviewed by Reuters.

Since February, Wright has filed more than 50 patent applications in Britain through Antigua-registered EITC Holdings Ltd, which a source close to the company confirmed was connected to Wright, government records show.

Interviews with sources close to EITC Holdings Ltd, which has two of Wright's associates as directors, confirmed it was still working on filing patent applications and Britain's Intellectual Property Office has published another 11 patent applications filed by the company in the past week.

Australian 'bitcoin founder' quietly bidding for patent empire

Craig Wright, the Australian who claimed to be the inventor of bitcoin, is attempting to build a large patent portfolio around the digital currency and technology underpinning it, according to associates of his and documents reviewed by Reuters.

Since February, Wright has filed more than 50 patent applications in Britain through Antigua-registered EITC Holdings Ltd, which a source close to the company confirmed was connected to Wright, government records show.

Interviews with sources close to EITC Holdings Ltd, which has two of Wright's associates as directors, confirmed it was still working on filing patent applications and Britain's Intellectual Property Office has published another 11 patent applications filed by the company in the past week.___

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2016-06-20 14:57:58 (1 comments; 0 reshares; 16 +1s; )Open 

Bitcoin Foundation Names South African Investor as New Director

Bitcoin’s oldest trade organization has voted in a new executive director.

Weeks after outgoing executive director Bruce Fenton notified the board his term was nearing conclusion (rumors suggested he had resigned), the Bitcoin Foundation has named Llew Claasen to the position.

A relative unknown in the bitcoin and wider blockchain community, Claasen is a venture capitalist from Cape Town, South Africa and the managing partner of Newtown Partners, who primarily has a background in online and mobile infrastructure. Fenton will remain a board member of the Bitcoin Foundation.

Bitcoin Foundation Names South African Investor as New Director

Bitcoin’s oldest trade organization has voted in a new executive director.

Weeks after outgoing executive director Bruce Fenton notified the board his term was nearing conclusion (rumors suggested he had resigned), the Bitcoin Foundation has named Llew Claasen to the position.

A relative unknown in the bitcoin and wider blockchain community, Claasen is a venture capitalist from Cape Town, South Africa and the managing partner of Newtown Partners, who primarily has a background in online and mobile infrastructure. Fenton will remain a board member of the Bitcoin Foundation.___

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2016-06-20 08:19:31 (11 comments; 0 reshares; 18 +1s; )Open 

Sweatcoin Pays Brits Blockchain-Based Digital Currency to Get Fit

If you’ve ever needed an incentive to get fit, a new app launched in Britain could give you the boost you need. The new fitness app for Apple devices, Sweatcoin, rewards steps people have taken with digital currency, which can be used to buy goods and services.

The British-made app by co-founders Oleg Fomenko, Anton Derlyatka, Danil Perushev and Egor Khmelev, is the latest initiative in a growing fitness economy that features monitoring devices and apps, which reward peoples’ fitness activity with vouchers and discounts.

Their aim is to fix an evolutionary bug called “Present Bias,” which is the human tendency to underestimate things which happen in the future and disproportionately focuses our attention solely on what gives us pleasure right now.

Currently only available on iPad andiPhone ... more »

Sweatcoin Pays Brits Blockchain-Based Digital Currency to Get Fit

If you’ve ever needed an incentive to get fit, a new app launched in Britain could give you the boost you need. The new fitness app for Apple devices, Sweatcoin, rewards steps people have taken with digital currency, which can be used to buy goods and services.

The British-made app by co-founders Oleg Fomenko, Anton Derlyatka, Danil Perushev and Egor Khmelev, is the latest initiative in a growing fitness economy that features monitoring devices and apps, which reward peoples’ fitness activity with vouchers and discounts.

Their aim is to fix an evolutionary bug called “Present Bias,” which is the human tendency to underestimate things which happen in the future and disproportionately focuses our attention solely on what gives us pleasure right now.

Currently only available on iPad and iPhone in the UK, for every 1,000 steps a user will receive one sweatcoin (SWC) with rewards ranging in value on the Sweatcoin shop. For example, 20 sweatcoins will get you a pair of Apple headphones, 50 sweatcoins will get you a Wii console and a Wii bundle kit, and 1,300 sweatcoins will get you a PS3 and games.___

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2016-06-20 01:40:17 (1 comments; 0 reshares; 20 +1s; )Open 

Security Pioneer John McAfee Adds Blockchain Experts to Advisory Board

Security pioneer John McAffee has added two bitcoin pioneers to his new company's advisory board as part of a broader effort to make digital currency businesses more secure.

A part of the strategy for MGT Capital Investments, McAffee yesterday launched the Cryptosecurity Advisory Board, naming bitcoin angel investor Roger Ver as board chairman. Today, MGT added serial industry entrepreneur Erik Voorhees as an inaugural member of the board.

While banks and other financial institutions have been adopting blockchain technology because of its increased transparency and efficiency, McAfee said the board, and an entirely new soon-to-be launched division at the company, are aimed at making the technology more secure.

Security Pioneer John McAfee Adds Blockchain Experts to Advisory Board

Security pioneer John McAffee has added two bitcoin pioneers to his new company's advisory board as part of a broader effort to make digital currency businesses more secure.

A part of the strategy for MGT Capital Investments, McAffee yesterday launched the Cryptosecurity Advisory Board, naming bitcoin angel investor Roger Ver as board chairman. Today, MGT added serial industry entrepreneur Erik Voorhees as an inaugural member of the board.

While banks and other financial institutions have been adopting blockchain technology because of its increased transparency and efficiency, McAfee said the board, and an entirely new soon-to-be launched division at the company, are aimed at making the technology more secure.___

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2016-06-20 01:03:54 (11 comments; 0 reshares; 44 +1s; )Open 

Kill Monsters, Get Bitcoin: Minecraft Server Releases Version 2.0, Opens Up “Satoshi Town”

BitQuest, a Minecraft server that uses a Bitcoin denominated monetary system for in-game transactions, has just entered version 2.0.

The server’s website says:

“The currency on this server are the Bits. A bit is a fraction of a Bitcoin (1/1000000) that you can obtain by killing monsters, trading with users or transferring [sic] from an outside wallet. All of it is stored on a standard Bitcoin wallet on the Blockchain.”

Kill Monsters, Get Bitcoin: Minecraft Server Releases Version 2.0, Opens Up “Satoshi Town”

BitQuest, a Minecraft server that uses a Bitcoin denominated monetary system for in-game transactions, has just entered version 2.0.

The server’s website says:

“The currency on this server are the Bits. A bit is a fraction of a Bitcoin (1/1000000) that you can obtain by killing monsters, trading with users or transferring [sic] from an outside wallet. All of it is stored on a standard Bitcoin wallet on the Blockchain.”___

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2016-06-18 16:07:55 (10 comments; 0 reshares; 31 +1s; )Open 

Bitcoin's Largest Competitor Hacked: Over $59 Million "Ethers" Stolen In Ongoing Attack

One month ago, Fred Ehrsam, co-founder of Coinbase in a sweeping, 2,500-word blog post, took aim at what he called a "stagnant" bitcoin community that he characterized as being outperformed by innovators working on the Ethereum network. In the post, Ehrsam sought to position Ethereum as a possible competitor to bitcoin, indicating his belief that the competing protocol could "blow past bitcoin entirely" (perhaps he was merely peeved at the lack of commission fees Coinbase was generating). In his post, Eshram said: "There is nothing that bitcoin can do which Ethereum can’t. While Ethereum is less battle tested, it is moving faster, has better leadership and has more developer mindshare. First mover advantage is challenging to overcome, but at current pace, it’scon... more »

Bitcoin's Largest Competitor Hacked: Over $59 Million "Ethers" Stolen In Ongoing Attack

One month ago, Fred Ehrsam, co-founder of Coinbase in a sweeping, 2,500-word blog post, took aim at what he called a "stagnant" bitcoin community that he characterized as being outperformed by innovators working on the Ethereum network. In the post, Ehrsam sought to position Ethereum as a possible competitor to bitcoin, indicating his belief that the competing protocol could "blow past bitcoin entirely" (perhaps he was merely peeved at the lack of commission fees Coinbase was generating). In his post, Eshram said: "There is nothing that bitcoin can do which Ethereum can’t. While Ethereum is less battle tested, it is moving faster, has better leadership and has more developer mindshare. First mover advantage is challenging to overcome, but at current pace, it’s conceivable."

Also, as Coindesk reported recently, those close to the project were beginning to see The DAO as Ethereum’s "flagship application", one that they believe could hold the key to ensuring a lasting, favorable impression for Ethereum's technology, or scar its reputation, with some comparing the DAO as the possible Ether equivalent of bitcoin's once largest and now bankrupt exchange, Mt Gox.

As of this morning, however, it is decidedly the latter, because it turns out there was something else that bitcoin's biggest emerging competitor could do: get hacked.

As Cryptcoinnews reports, Ethereum co-founder Vitalik Buterin has asked digital currency exchanges to “pause” ether and activity on the decentralized autonomous organization, or DAO, activity following a hack of the DAO smart contract address. As a reminder Ethereum is the blockchain platform that enabled the DAO's creation.

EDIT: As clearly pointed out by +Ruald Andreae​​ the Ethereum protocol was not compromised. Instead it was the DAO, that has made headlines over the past week, that was compromised. This headline appears to imply that Ethereum was compromised while that is not the case. ___

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2016-06-17 04:16:37 (4 comments; 0 reshares; 26 +1s; )Open 

Bitcoin Price Passes $750 to Hit 28-Month High

The price of bitcoin broke $750 today, building on recent gains to hit a 28-month high.

Bitcoin prices reached $750.37 during the day's session, the highest since 7th February, 2014, CoinDesk USD Bitcoin Price Index (BPI) figures reveal. The digital currency exceeded its latest milestone of $750 after surpassing $700 early on 13th June, and then nearing $720 later that day.

Of late, bitcoin has benefited from a multitude of factors, including concerns about China’s economy, anticipation surrounding the upcoming halving and fear of a Brexit, and this momentum is showing signs it is continuing to build.

Bitcoin Price Passes $750 to Hit 28-Month High

The price of bitcoin broke $750 today, building on recent gains to hit a 28-month high.

Bitcoin prices reached $750.37 during the day's session, the highest since 7th February, 2014, CoinDesk USD Bitcoin Price Index (BPI) figures reveal. The digital currency exceeded its latest milestone of $750 after surpassing $700 early on 13th June, and then nearing $720 later that day.

Of late, bitcoin has benefited from a multitude of factors, including concerns about China’s economy, anticipation surrounding the upcoming halving and fear of a Brexit, and this momentum is showing signs it is continuing to build.___

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2016-06-17 03:09:24 (12 comments; 0 reshares; 54 +1s; )Open 

Japan’s largest bank tests digital currency

Bank of Tokyo-Mitsubishi UFJ confirmed on Tuesday it is conducting experiments using its own digital currency, Reuters reported.

Last week Japan’s Asahi Shimbun newspaper said the bank plans releasing its virtual currency as soon as autumn 2017. According to the newspaper, the conversion rate of one MUFG [Mitsubishi UFJ Financial Group – Ed.] coin will be equal to one Japanese yen. Users will be able to withdraw money from their bank accounts into an app on their smartphones. The money will then be converted to the digital currency.

Japan’s largest bank tests digital currency

Bank of Tokyo-Mitsubishi UFJ confirmed on Tuesday it is conducting experiments using its own digital currency, Reuters reported.

Last week Japan’s Asahi Shimbun newspaper said the bank plans releasing its virtual currency as soon as autumn 2017. According to the newspaper, the conversion rate of one MUFG [Mitsubishi UFJ Financial Group – Ed.] coin will be equal to one Japanese yen. Users will be able to withdraw money from their bank accounts into an app on their smartphones. The money will then be converted to the digital currency.___

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2016-06-16 00:19:04 (5 comments; 0 reshares; 23 +1s; )Open 

CPA Trade Association Pushes IRS for Bitcoin Tax Guidance

The American Institute of CPAs (AICPA) has submitted comments to the IRS that seek to encourage the US tax agency to provide additional clarity as to how bitcoin and digital currency users should report their handling of the technology for tax purposes.

The comment, submitted on 10th June 2016, asserts that the lack of specificity in the tax treatment of virtual currency has become a "concern" for tax professionals, and details 10 areas where the 400,000-member organization believes improvements can be made to the original guidance.

The comments come more than two years after the IRS issued a notice indicating that it would tax digital currencies as property, meaning that users had to report profits and losses, even when using the technology for everyday payments.

CPA Trade Association Pushes IRS for Bitcoin Tax Guidance

The American Institute of CPAs (AICPA) has submitted comments to the IRS that seek to encourage the US tax agency to provide additional clarity as to how bitcoin and digital currency users should report their handling of the technology for tax purposes.

The comment, submitted on 10th June 2016, asserts that the lack of specificity in the tax treatment of virtual currency has become a "concern" for tax professionals, and details 10 areas where the 400,000-member organization believes improvements can be made to the original guidance.

The comments come more than two years after the IRS issued a notice indicating that it would tax digital currencies as property, meaning that users had to report profits and losses, even when using the technology for everyday payments.___

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2016-06-12 09:00:23 (3 comments; 0 reshares; 43 +1s; )Open 

I'll just leave this here...

I'll just leave this here...___

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2016-06-12 08:56:06 (19 comments; 0 reshares; 82 +1s; )Open 

To the moon!

$625 Bitcoin Average Exchange Price [ Update ]

23 months High Achieved

#Bitcoin   #XBT   #BTC  

I was wrong. $625 is good for a 23 months high. $650 is needed for a 2 years / 24 months high. Thanks to who pointed it out___To the moon!

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2016-06-12 08:52:12 (3 comments; 0 reshares; 26 +1s; )Open 

Is Bitcoin's Price Performance Drawing Mainstream Traders?

With the price of bitcoin at 20-month highs, market observers are beginning to assert the digital currency's strength could be drawing the interest of new global traders.

With many market participants struggling to get returns from more traditional asset classes, investors are now being prompted to look at investments they would not have considered before, such as digital currency, they argue.

According to Tim Enneking, chairman of cryptocurrency investment fund EAM, the price rally the digital currency enjoyed just weeks earlier can be attributed, in part, to investors' thirst for yield.

Is Bitcoin's Price Performance Drawing Mainstream Traders?

With the price of bitcoin at 20-month highs, market observers are beginning to assert the digital currency's strength could be drawing the interest of new global traders.

With many market participants struggling to get returns from more traditional asset classes, investors are now being prompted to look at investments they would not have considered before, such as digital currency, they argue.

According to Tim Enneking, chairman of cryptocurrency investment fund EAM, the price rally the digital currency enjoyed just weeks earlier can be attributed, in part, to investors' thirst for yield.___

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2016-06-10 05:47:25 (1 comments; 0 reshares; 48 +1s; )Open 

Bitcoin and the Blockchain Take the Stage for International Summit of Central Banks at the Federal Reserve

When Satoshi Nakamoto released the Bitcoin white paper in 2008, little did Bitcoin’s creator know that less than 10 years later, Federal Reserve Chair Janet Yellen would be encouraging central banks around the world to take a closer look at the benefits of Bitcoin and blockchain technology to improve the world’s financial systems.

In her remarks to the International Conference on Policy Challenges for the Financial Sector, the chair of the Board of Governors of the Federal Reserve acknowledged heightened concerns about cybersecurity, and said banks must move forward into the digital age and learn how to apply Bitcoin, blockchain and distributed ledger technologies.

At a low-key three-day conference in Washington, D.C., last week organized by the FederalRes... more »

Bitcoin and the Blockchain Take the Stage for International Summit of Central Banks at the Federal Reserve

When Satoshi Nakamoto released the Bitcoin white paper in 2008, little did Bitcoin’s creator know that less than 10 years later, Federal Reserve Chair Janet Yellen would be encouraging central banks around the world to take a closer look at the benefits of Bitcoin and blockchain technology to improve the world’s financial systems.

In her remarks to the International Conference on Policy Challenges for the Financial Sector, the chair of the Board of Governors of the Federal Reserve acknowledged heightened concerns about cybersecurity, and said banks must move forward into the digital age and learn how to apply Bitcoin, blockchain and distributed ledger technologies.

At a low-key three-day conference in Washington, D.C., last week organized by the Federal Reserve, the World Bank and the International Monetary Fund, more than 90 central banks from around the world heard from members of the Bitcoin community, including Perianne Boring, founder and president of the Chamber of Digital Commerce, Bloq CEO Jeff Garzik and Chain CEO Adam Ludwin.___

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2016-06-10 03:41:04 (3 comments; 0 reshares; 29 +1s; )Open 

U.S. Election Puts $1,000 Bitcoin Within Reach

In my now bi-weekly look at Bitcoin I tend to focus on the news rather than the price. Bitcoin is a long-term challenge to banking and even money as we know it, and I have felt that progress in terms of recognition and understanding is more important than the vagaries of the market.

The price can take care of itself.

I last looked at price back in April, when I argued that the long term chart for BTC/USD was supportive of the bull case. At that time BTC/USD was trading at around $425, and is now around $576, about 35 percent higher, so I guess that worked out okay. The recent consolidation above $500, though, prompts an interesting question, and one that many people thought would never again be asked, or at least not for a long time: Is BTC/USD above $1000 a possibility in the near future?

U.S. Election Puts $1,000 Bitcoin Within Reach

In my now bi-weekly look at Bitcoin I tend to focus on the news rather than the price. Bitcoin is a long-term challenge to banking and even money as we know it, and I have felt that progress in terms of recognition and understanding is more important than the vagaries of the market.

The price can take care of itself.

I last looked at price back in April, when I argued that the long term chart for BTC/USD was supportive of the bull case. At that time BTC/USD was trading at around $425, and is now around $576, about 35 percent higher, so I guess that worked out okay. The recent consolidation above $500, though, prompts an interesting question, and one that many people thought would never again be asked, or at least not for a long time: Is BTC/USD above $1000 a possibility in the near future?___

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2016-06-08 22:24:23 (1 comments; 0 reshares; 42 +1s; )Open 

Maker of First Bitcoin Mining ASIC Acquired in What Could Be Industry's Largest Sale

The China-based company behind the first bitcoin mining ASIC has been acquired, though the exact details of the sale vary.

Canaan Creative, the company that produces the Avalon chip series, confirmed its acquisition by Shandong Luyitong Intelligent Electric PLC today in an email to CoinDesk. Shandong Luyitong is an electronics firm founded in 2003, and that is publicly listed on the Shenzhen Stock Exchange.

As for the exact amount paid in the acquisition, initial statements from parties involved or close to the deal indicate it could be the largest-ever exit for bitcoin startup.

Maker of First Bitcoin Mining ASIC Acquired in What Could Be Industry's Largest Sale

The China-based company behind the first bitcoin mining ASIC has been acquired, though the exact details of the sale vary.

Canaan Creative, the company that produces the Avalon chip series, confirmed its acquisition by Shandong Luyitong Intelligent Electric PLC today in an email to CoinDesk. Shandong Luyitong is an electronics firm founded in 2003, and that is publicly listed on the Shenzhen Stock Exchange.

As for the exact amount paid in the acquisition, initial statements from parties involved or close to the deal indicate it could be the largest-ever exit for bitcoin startup.___

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2016-06-08 17:12:55 (2 comments; 0 reshares; 53 +1s; )Open 

BIP 151: The End-To-End Encryption Bitcoin Never Had – but Soon Will

Bitcoin right now is not really anonymous. While Bitcoin addresses aren't necessarily linked to real-world identities, they can be. Monitoring the unencrypted peer-to-peer network, analysis of the public blockchain, and Know Your Customer (KYC) policy or Anti-Money Laundering (AML) regulation can reveal a lot about who's using Bitcoin, and for what.

This is not great from a privacy perspective. Bitcoin users might not necessarily want the world to know where they spend their money, what they earn or how much they own, while businesses may not want to leak transaction details to competitors – to name some examples.

Additionally, bitcoins being traceable, possibly “tainted,” and potentially worth less than other bitcoins is at odds with fungibility. This could even challengeBitcoin... more »

BIP 151: The End-To-End Encryption Bitcoin Never Had – but Soon Will

Bitcoin right now is not really anonymous. While Bitcoin addresses aren't necessarily linked to real-world identities, they can be. Monitoring the unencrypted peer-to-peer network, analysis of the public blockchain, and Know Your Customer (KYC) policy or Anti-Money Laundering (AML) regulation can reveal a lot about who's using Bitcoin, and for what.

This is not great from a privacy perspective. Bitcoin users might not necessarily want the world to know where they spend their money, what they earn or how much they own, while businesses may not want to leak transaction details to competitors – to name some examples.

Additionally, bitcoins being traceable, possibly “tainted,” and potentially worth less than other bitcoins is at odds with fungibility. This could even challenge Bitcoin's value proposition as money.

But there are potential solutions to increase privacy, and improve fungibility. One of these solutions is BIP 151, a Bitcoin Improvement Proposal designed to encrypt data among Bitcoin nodes.___

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2016-06-08 17:08:44 (9 comments; 0 reshares; 14 +1s; )Open 

French Presidential Hopeful Calls for Bitcoin Ban

The head of a major far-right political party in France has called for ending the use of bitcoin and other digital currencies in the European country.

In a note published last last month, Marine Le Pen, leader of the National Front and its expected candidate in the 2017 French presidential election, accused world leaders of seeking to create a world with no cash and positioned bitcoin as an effort fueled by Wall Street power brokers.

Le Pen wrote:

"Therefore, in the context of the implementation of its model of economic patriotism, [the National Front] will prevent the use of cryptocurrencies such as bitcoin in France."

French Presidential Hopeful Calls for Bitcoin Ban

The head of a major far-right political party in France has called for ending the use of bitcoin and other digital currencies in the European country.

In a note published last last month, Marine Le Pen, leader of the National Front and its expected candidate in the 2017 French presidential election, accused world leaders of seeking to create a world with no cash and positioned bitcoin as an effort fueled by Wall Street power brokers.

Le Pen wrote:

"Therefore, in the context of the implementation of its model of economic patriotism, [the National Front] will prevent the use of cryptocurrencies such as bitcoin in France."___

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2016-06-06 01:21:42 (46 comments; 0 reshares; 32 +1s; )Open 

Just noticed this on ISideWith.com. Which one would you choose?

Just noticed this on ISideWith.com. Which one would you choose?___

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2016-06-01 15:54:56 (5 comments; 0 reshares; 27 +1s; )Open 

Understanding the Lightning Network, Part 1: Building a Bidirectional Bitcoin Payment Channel

The Lightning Network is probably the most highly anticipated technological innovation to be deployed on top of Bitcoin. The payment layer, first proposed by Joseph Poon and Tadge Dryja about a year ago, promises to support a virtually unlimited number of off-chain transactions among users, at nearly no cost – while leveraging the security offered by Bitcoin.

At least three companies – Poon and Dryja's Lightning, Blockstream and Blockchain – are currently working on implementations of the technology. But few outside this small technological frontline fully grasp how the “future of micropayments” is set to boost Bitcoin’s capabilities.

In this three-part series, Bitcoin Magazine lays out the basic building blocks of the Lightning Network, and shows howthey fit together ... more »

Understanding the Lightning Network, Part 1: Building a Bidirectional Bitcoin Payment Channel

The Lightning Network is probably the most highly anticipated technological innovation to be deployed on top of Bitcoin. The payment layer, first proposed by Joseph Poon and Tadge Dryja about a year ago, promises to support a virtually unlimited number of off-chain transactions among users, at nearly no cost – while leveraging the security offered by Bitcoin.

At least three companies – Poon and Dryja's Lightning, Blockstream and Blockchain – are currently working on implementations of the technology. But few outside this small technological frontline fully grasp how the “future of micropayments” is set to boost Bitcoin’s capabilities.

In this three-part series, Bitcoin Magazine lays out the basic building blocks of the Lightning Network, and shows how they fit together to realize this upcoming protocol layer.

This first part of the series establishes the necessary building blocks, and shows how these can be combined to create “smart contracts,” which can be applied to realize the first requirement of the Lightning Network: a bidirectional payment channel.

Understanding the Lightning Network, Part 2: Creating the Network - https://bitcoinmagazine.com/articles/understanding-the-lightning-network-part-creating-the-network-1465326903?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+BitcoinMagazine+%28Bitcoin+Magazine%29

Understanding the Lightning Network, Part 3: Completing the Puzzle and Closing the Channel - https://bitcoinmagazine.com/articles/understanding-the-lightning-network-part-completing-the-puzzle-and-closing-the-channel-1466178980?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+BitcoinMagazine+%28Bitcoin+Magazine%29___

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2016-06-01 12:31:46 (1 comments; 0 reshares; 4 +1s; )Open 

Free Supercharging won't come standard on the Tesla Model 3

Tesla's early adopters have been enjoying a lifetime of free charging at the company's network of Supercharger stations, but that won't be the case for owners of the forthcoming mass-market Model 3. In today's annual shareholder meeting, CEO Elon Musk explained free charging for life won't be included with the new model, but will be available as an optional package.

Free Supercharging won't come standard on the Tesla Model 3

Tesla's early adopters have been enjoying a lifetime of free charging at the company's network of Supercharger stations, but that won't be the case for owners of the forthcoming mass-market Model 3. In today's annual shareholder meeting, CEO Elon Musk explained free charging for life won't be included with the new model, but will be available as an optional package.___

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2016-05-29 21:37:31 (0 comments; 0 reshares; 3 +1s; )Open 

Tesla hosts a grand opening for its Gigafactory on July 29thThe giant battery plant isn't technically complete yet, but Tesla still wants to mark the occasion.

Tesla's sprawling Gigafactory has yet to kick into full swing, but that isn't stopping the electric car maker from giving its plant an official debut. It'sinviting its biggest fans (including those who referred buyers) to a grand opening for the Gigafactory on July 29th, even though the Nevada facility is still well away from being finished. There's no mention of what's on the itinerary, although it's reasonable to suspect that this could be the first truly revealing, officially sanctioned peek inside the factory. Motor Trendgot a tour in April, but mainly showed the outside.

The EV pioneer is certainly under pressure to show that the Gigafactory is ready for business. Tesla needs thebuildi... more »

Tesla hosts a grand opening for its Gigafactory on July 29thThe giant battery plant isn't technically complete yet, but Tesla still wants to mark the occasion.

Tesla's sprawling Gigafactory has yet to kick into full swing, but that isn't stopping the electric car maker from giving its plant an official debut. It'sinviting its biggest fans (including those who referred buyers) to a grand opening for the Gigafactory on July 29th, even though the Nevada facility is still well away from being finished. There's no mention of what's on the itinerary, although it's reasonable to suspect that this could be the first truly revealing, officially sanctioned peek inside the factory. Motor Trendgot a tour in April, but mainly showed the outside.

The EV pioneer is certainly under pressure to show that the Gigafactory is ready for business. Tesla needs the building to start making car batteries soon if it's going to fulfill the flood of early Model 3 orders. On top of that, it'll want to show that its accelerated production plans (which have it making batteries for 500,000 cars per year by 2018) are realistic. The more confidence Tesla shows in its manufacturing, the more it reassures buyers and investors worried that the company's reach might exceed its grasp.___

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