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Neutral Altcoin Algorithm Trends

CryptoCoins News, 5/12/2014 2:42 PM PST

The world of Altcoins has been changing over time as have the trends in Altcoin algorithms. As the difficulty of Bitcoin continued to rise, miners sought new cryptocurrencies to be able to mine more profitably with the hardware they had on hand. When Bitcoin was developed, it was designed so that anyone would be able […]

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BitPay Raises Record $30M in Series A Led by Index Ventures

Bitcoin Magazine, 5/12/2014 2:42 PM PST

This morning BitPay, one of the industry’s largest business and payment solutions providers, announced some very big news, bringing sizable implications for the future of Bitcoin as both a payment method and emerging technology. The company announced what has become the record for funding of any business in the Bitcoin space. Led by international venture capital firm Index Ventures, BitPay has raised $30 million in Series A, bringing their astronomical grand total of $32.7M in funding. The round of funding further solidifies the company’s continued growth, innovation and outreach which has helped the currency reach new heights. With support from many venture capital firms and big names like Sir Richard Branson, BitPay’s Series A funding was received from all over […]

The post BitPay Raises Record $30M in Series A Led by Index Ventures appeared first on Bitcoin Magazine.

The Future Of Innovation: Five Things We Can Learn From Bitcoin

Forbes, 5/12/2014 2:42 PM PST

The past several years have seen bitcoin and other cryptocurriences become a multibillion dollar ecosystem, attracting hundreds of startup companies and over $100 million in venture capital investments.

New Lamassu Product Upgrades Bitcoin ATMs for Two-Way Transactions

CoinDesk, 5/12/2014 2:42 PM PST

Bitcoin ATM manufacturer Lamassu has unveiled a new ATM stand that allows for two-way transactions.

Bitcoins: Made in China

Bitcoin Magazine, 5/12/2014 2:42 PM PST

[Note: click here for a PDF version] Abstract: The discussion over the actual costs of maintaining a decentralized seigniorage network is a new area of research. In practice it appears that the logistical cost of operating the Bitcoin network rises linearly with its total value. More efficient mining gear does not reduce energy use of the Bitcoin network. It only raises the network difficulty. The proof-of-work method used to mitigate rogue attacks must expend real work, which means it must consume energy. Consequently, the price of bitcoin reflects its demand which in turn incentivizes hardness, which reflects how much work goes into the proof-of-work scheme, which directly converts into how much energy is being expended. Moses Lake, Northern Europe, Canada […]

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CoinTerra Is Now Offering Bitcoin Mining Contracts Out Of Their State-Of-The-Art Datacenter

CryptoCoins News, 5/12/2014 2:42 PM PST

CoinTerra today announced the immediate deployment of their state-of-the-art tier-3 compliant datacenter.  From this data center, CoinTerra plans to offer Bitcoin mining contracts to individuals around the world whom are unable to mine in their own homes due to constraints with mining hardware imports, high electricity costs, or nagging wives.  They are offering contracts as small as 12 months […]

The post CoinTerra Is Now Offering Bitcoin Mining Contracts Out Of Their State-Of-The-Art Datacenter appeared first on CryptoCoinsNews.

Why the ATM Industry Could Launch Bitcoin into the Mainstream

CoinDesk, 5/12/2014 2:42 PM PST

Traditional ATM networks may be poised to adopt bitcoin, which would remove significant hurdles for the cryptocurrency.

Very Foundation, Much Wow: A Conversation With Dogecoin’s Jackson Palmer

TechCrunch, 5/12/2014 2:42 PM PST

jacksonpalmerdogecoin In my latest Foundation interview, I sit down with entrepreneur Jackson Palmer. Jackson is the brains behind the fast-growing cryptocurrency known as Dogecoin. We discuss the Dogecoin community’s ability to raise money for good (like sending the Jamaican Bobsled team to Sochi), and Jackson’s views on what digital currency will look like in five years. Jackson on how to grow the bitcoin… Read More

Very Foundation, Much Wow: A Conversation With Dogecoin’s Jackson Palmer

TechCrunch, 5/12/2014 2:42 PM PST

jacksonpalmerdogecoin In my latest Foundation interview, I sit down with entrepreneur Jackson Palmer. Jackson is the brains behind the fast-growing cryptocurrency known as Dogecoin. We discuss the Dogecoin community’s ability to raise money for good (like sending the Jamaican Bobsled team to Sochi), and Jackson’s views on what digital currency will look like in five years. Jackson on how to grow the bitcoin… Read More

A New Benchmark for Scrypt Mining

Bitcoin Magazine, 5/12/2014 2:42 PM PST

The technology of Scrypt mining ASICs has exploded in the past year and many believe that 2014 will be the year for mining scrypt based currencies like Litecoin, Dogecoin and Auroracoin. For a company like Bliss Devices, these advancements are providing individuals with innovative chips, faster hashing and lower cost of ownership. In fact, Bliss Devices has just announced what may be the highest performing Scrypt ASIC chip to date. Bliss Devices was founded by Paul Chen and Steve Zhang, who were integral in the creation of 8 highly-complex ASICs at Fortinet, a global provider of network security appliances and unified threat management. Their background in the creation of high-tech ASICs and experience in network security and semiconductors have been […]

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A New Benchmark for Scrypt Mining

Bitcoin Magazine, 5/12/2014 2:42 PM PST

The technology of Scrypt mining ASICs has exploded in the past year and many believe that 2014 will be the year for mining scrypt based currencies like Litecoin, Dogecoin and Auroracoin. For a company like Bliss Devices, these advancements are providing individuals with innovative chips, faster hashing and lower cost of ownership. In fact, Bliss Devices has just announced what may be the highest performing Scrypt ASIC chip to date. Bliss Devices was founded by Paul Chen and Steve Zhang, who were integral in the creation of 8 highly-complex ASICs at Fortinet, a global provider of network security appliances and unified threat management. Their background in the creation of high-tech ASICs and experience in network security and semiconductors have been […]

The post A New Benchmark for Scrypt Mining appeared first on Bitcoin Magazine.

A New Benchmark for Scrypt Mining

Bitcoin Magazine, 5/12/2014 2:42 PM PST

The technology of Scrypt mining ASICs has exploded in the past year and many believe that 2014 will be the year for mining scrypt based currencies like Litecoin, Dogecoin and Auroracoin. For a company like Bliss Devices, these advancements are providing individuals with innovative chips, faster hashing and lower cost of ownership. In fact, Bliss Devices has just announced what may be the highest performing Scrypt ASIC chip to date. Bliss Devices was founded by Paul Chen and Steve Zhang, who were integral in the creation of 8 highly-complex ASICs at Fortinet, a global provider of network security appliances and unified threat management. Their background in the creation of high-tech ASICs and experience in network security and semiconductors have been […]

The post A New Benchmark for Scrypt Mining appeared first on Bitcoin Magazine.

A New Benchmark for Scrypt Mining

Bitcoin Magazine, 5/12/2014 2:42 PM PST

The technology of Scrypt mining ASICs has exploded in the past year and many believe that 2014 will be the year for mining scrypt based currencies like Litecoin, Dogecoin and Auroracoin. For a company like Bliss Devices, these advancements are providing individuals with innovative chips, faster hashing and lower cost of ownership. In fact, Bliss Devices has just announced what may be the highest performing Scrypt ASIC chip to date. Bliss Devices was founded by Paul Chen and Steve Zhang, who were integral in the creation of 8 highly-complex ASICs at Fortinet, a global provider of network security appliances and unified threat management. Their background in the creation of high-tech ASICs and experience in network security and semiconductors have been […]

The post A New Benchmark for Scrypt Mining appeared first on Bitcoin Magazine.

Storage Meets Usage with New Bitcoin Development

Bitcoin Magazine, 5/12/2014 2:42 PM PST

The latest Bitcoin development just might revolutionize the popular cryptocurrency, fueling the largest cryptocurrency network. Last week, a company known for offering a secure place for customers to safely store their bitcoins has expanded into new territory. In the past, Xapo’s objective has been to build trust in the cryptocurrency industry by providing a secure vault, a place where users can store their bitcoins and be  assured they are safe.  After assembling a team of financial services and security experts, the tech company has designed a link between storage and usage. According to Xapo, “By offering two distinct products – a free, easy-access Wallet and a fully-insured Vault – we’re marrying the convenience bitcoin users want for everyday needs with […]

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The Right Kind of Privacy

Bitcoin Magazine, 5/12/2014 2:42 PM PST

Bitcoin is unique in its approach to privacy. Uneducated observers lament its advantages for illicit activities, but the blockchain keeps track of every transaction and who has how much coin. The revolutionary part of this system is the fact that one must divulge his or her Bitcoin address to lose anonymity, which leaves us with a new kind of privacy–conditional privacy. Most people who support privacy rights are worried about corporations and governments, and there are plenty reasons why you might not want to reveal your Bitcoin address. Suppose you were or wanted to support a gay rights group in Russia, or an Occupy movement in the United States. Maybe you want to register a political website, in a country […]

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The Top 10 Mega Trends of the Decade

Forbes, 5/12/2014 2:42 PM PST

A decade ago the idea of driverless fully electric cars, digital currencies and deep sea mining seemed like science fiction. It is testament to the rapid pace of social, economic and technological change that we are witnessing that these concepts no longer seem impossible with Bitcoin trading at values that are best described as outlandish and the UN giving licenses away for companies to mine the sea beds. As such, a revolution is under way, where gadgets, large and small, are changing our society. And this stuff is not make-believe any more. In less than a decade, many of these trends will be embedded in our daily lives.

ATM Maker Diamond Circle to Launch Bitcoin Debit Card

CoinDesk, 5/12/2014 2:42 PM PST

The company has announced it will launch the card this week at the 2014 Bitcoin Conference in Amsterdam.

Bity App Sneaks iOS Bitcoin Transactions Under Apple’s Radar

CoinDesk, 5/12/2014 2:42 PM PST

A new app for iOS devices offers limited transactional abilities despite not being a digital wallet.

Bitcoin the Environmentalist

Bitcoin Magazine, 5/12/2014 2:42 PM PST

A lot has been made of Bitcoin’s environmental impact. With the mining network now more powerful than all of the world’s top supercomputers combined, it’s understandable that some people would become concerned about power consumption and waste. Shouldn’t there be a better way to do this, and is it even worth it, at all? First, to answer the former question. One alternative to using processing power to mint coins–known as proof-of-work–is the proof-of-stake system. In proof-of-stake, new coins are minted (and the network secured) by those holding coins in the same place for a period of time. This, however, concentrates control of the money supply directly into the hands of the wealthy, and discourages the spending and trade in the […]

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Bitcoin Foundation Members Resigning Over Brock Pierce Controversy – Is TBF Necessary?

CryptoCoins News, 5/12/2014 2:42 PM PST

On May 9th, the Bitcoin Foundation (TBF) announced election results for two new board members to replace Charlie Schrem and Mark Karpeles. Only 102 Bitcoin Foundation members were eligible to vote, of those 31 abstained. Bobby Lee, head of BTC China, was brought on board with 79% approval. Also elected, with 65% approval, was KnCMiner.cn […]

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An Open Source World

Bitcoin Magazine, 5/12/2014 2:42 PM PST

“If you can, you should.” Never has this phrase been more applicable than in the realm of open source technology. For those not in the know, “open source” refers to any code or blueprint that has been deliberately made available for reproduction–basically, one not subject to copyright restrictions. Bitcoin, of course, is a prime example. It sounds simple, but the effects of open source technology are quite profound. Advocates love to talk about freedom and creativity, but the greatest aspect of the open source community is how efficient it is. Everyone can see exactly how an open source product was made; those working on similar projects can save resources by borrowing bits and pieces, while making improvements in the process. […]

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What is a Bitcoin Address and How Do You Sign It?

Bitcoin Magazine, 5/12/2014 2:42 PM PST

Short Answer: A Bitcoin address is a unique number that “holds” bitcoin currency. You use the address to receive and send bitcoins. Medium Sized Answer: A Bitcoin address is the public key half of the public-private key pair that enables the validation of ownership of that address. WHOAH there, what in tarnation does that mean?? Bitcoin addresses are created as part of a key generation process that creates a pair of keys. They are a matched set, where one is public and the other is private. When you “sign” a bitcoin address you are running the public and private keys through an algorithm that checks to see that those keys belong together. Usually signing is talked about in the context […]

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Very Negative Bitcoin Foundation Members Resign Following Appointment Controversy

CoinDesk, 5/12/2014 4:07 AM PST

A number of Bitcoin Foundation members have resigned over the weekend, following the latest round of appointments.

Negative Bitcoin Chart Analysis – Bitstamp Sub $400 Targets

CryptoCoins News, 5/12/2014 3:51 AM PST

BTC/USD rebounded off its upper channel trendline and has resumed the downtrend. This outcome was discussed last week and with Bitcoin price action remaining inside the decline zone, the implication is a return to the $400 price level. I am going out on a limb here, by writing this Bitcoin chart analysis during the Asian […]

The post Bitcoin Chart Analysis – Bitstamp Sub $400 Targets appeared first on CryptoCoinsNews.

Negative Bitcoin Price: Damaged by Association with Fraud and Ponzi Schemes

CryptoCoins News, 5/11/2014 11:08 PM PST

The Securities Exchange Commission (SEC), US Government agency, has issued a warning about cryptocurrency’s associations with Fraud and Ponzi schemes. They issued a statement warning that: They are more likely to be used by fraudsters to perpetrate fraudulent investment schemes. Dara Kerr, writing in CNET, reports that the US Securities and Exchange Commission (SEC) issued […]

The post Bitcoin Price: Damaged by Association with Fraud and Ponzi Schemes appeared first on CryptoCoinsNews.

Neutral Living On Bitcoin A Year Later: 'Why are people just sitting on their Bitcoin?'

Forbes, 5/11/2014 8:40 PM PST

Day 6: Bitcoin living is far more luxurious this year. I use my bitcoin bank to head to wine country.

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