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KnCMiner Raises $14 Million To Take Bitcoin Mining To The Moon

TechCrunch, 1/1/0001 12:00 AM PST

bitcoin-hero Swedish maker of bitcoin miners, KnCMiner, has announced a $14 million Series A to help build out new mining chips along with hosted mining services. Founded by Sam Cole and Andreas Kenner, the company raised with GP Bullhound advising. Creandum led the round. “The funding will enable KnCMiner to expand its mining operations and ability to offer services to consumers in relation to… Read More

Silicon Valley Builds Up In Microsoft's Backyard

Business Insider, 1/1/0001 12:00 AM PST

A sketch of founder and CEO Mark Zuckerberg is seen on a wall at the new headquarters of Facebook in Menlo Park, California January 11, 2012.  REUTERS/Robert Galbraith

By Bill Rigby

SEATTLE (Reuters) - In the last week of August, Twitter entertained dozens of potential young recruits at a chic studio, while Facebook served drinks and snacks to job-seekers at its own office. More than 175 showed up to a similar event at Google in June.

San Francisco? No, Seattle, home of Microsoft Corp and Amazon and fast becoming a second home for Silicon Valley companies looking to access the city's plentiful pool of relatively cheap tech talent.

Microsoft alumni are now running the Seattle offices of Facebook Inc, Twitter Inc and Google Inc, and they look to their former employer as a source for new talent. Microsoft has always suffered some loss of talent to competitors, but it now has to battle attractive companies in its own backyard to hire the tech stars it needs to reposition itself as a leader in mobile and the cloud.

"A lot of our top engineers are from Microsoft and they are doing really well," said Rohit Wad, who leads Facebook's Seattle office after an 18-year career at Microsoft. "The deep computer science knowledge they have is directly applicable to a lot of work we do."

Facebook has more than 400 employees in Seattle, up from 125 only two years ago, vastly outstripping the social network's overall growth. It recently took over a second floor in its rented offices to handle the overflow, and is starting to fill a third.

"There's a depth of engineering talent and experienced engineers here," said Wad, whose team does a lot of work relating to Facebook's platform and mobile development. "That's a big contingent here in Seattle because we can get people who are proficient in that. There is meaty, fulfilling work here."

Google now has more than 1,400 employees in two centers in the Seattle area, with the engineering work run by Microsoft veteran Chee Chew. Twitter opened its Seattle office in January and has almost 100 employees under Jeff Currier, another former Microsoft manager.

"We have a huge talent pool in the city," said Hillel Cooperman, a former Microsoft executive who founded his own software firm and design consultancy in Seattle with former colleagues called Jackson Fish Market. "It's less expensive to hire them up here, so why wouldn't you?"

Software developer salaries start at about $95,000 in Seattle, compared to about $109,000 in San Francisco, according to recruiting company Robert Half Technology. Washington was the fifth fastest-growing state for computer-related jobs in the first half of this year, according to the U.S. Bureau of Labor Statistics. Texas, Florida, North Carolina and Oregon were the four fastest.

"It’s really hard to find great talent in any market, but the Bay Area is a freakin' knife fight," said Brett Thompson, who runs human resources and recruiting at Seattle-based data visualization firm Tableau Software Inc. "That's why you see a lot of companies from the Bay Area coming up here. It actually feels like there's a more plentiful amount of talent in Seattle."

      

MICROSOFT, AMAZON ANCHOR

Microsoft and Amazon are the engines that power tech employment in the Seattle area, bringing in thousands of graduates and qualified programmers every year from around the United States and the world.

Many subsequently leave those companies, but don't want to give up the laid-back, relatively cheap Seattle way of life. They often go to one of the Silicon Valley invaders, or the rash of startups that are becoming forces in their own right, such as Zillow, Tableau and Zulily.

"Microsoft people tend to leave after their reviews in the summer and then September when they get their bonuses," said Jerry Taylor, president of Executive Recruiters Inc in Seattle, who has been placing tech candidates in the city since 1977.

Turnover has been heating up this summer, after Microsoft began laying off 1,351 around the Seattle region in July, many of them involved in testing Windows software. Microsoft currently has 1,289 vacancies in the area on LinkedIn, almost half of them with the word 'cloud' in the title.

Albert Squiers, director of technology recruiting at Fuel Talent in Seattle, said the ripple effect of the layoffs was starting to be felt in the region, and he has already been contacted by a handful of job-seekers from Microsoft. Taylor said he has seen an "influx."

The ebb of talent from Microsoft is potentially damaging to the software giant if it continues to lose mobile-savvy people to younger rivals.

"I definitely think that Microsoft is challenged to bring in top talent," said Scott Ruthfield, a former Microsoft and Amazon manager who founded the tech recruiting and consulting firm Rooster Park. "There are growth companies that tell a more exciting story."

Microsoft executives declined to discuss the issue, but a spokesman said Seattle's growth as a tech hub was good for everybody: "It is a boon to both the local tech industry and the overall regional economy, and benefits companies of all sizes."

   

QUALITY OF LIFE

Despite the more frequent rain, many rising tech stars end up liking Seattle more than the Bay Area for the space and low rents.

"People like the quality of life in the Pacific Northwest, the outdoors, the traffic and the cost of living," said Megan Slabinski, who runs Robert Half Technology's recruiting business on the west coast. "Oftentimes, candidates are not as willing to relocate to the Bay Area, once they live in the Pacific Northwest."

Shravan Goli, president at online tech job site Dice.com, a former Microsoft employee now working in the Bay Area, said it was hard to get his old colleagues to join him. California's state income tax is as high as 12.3 percent for top earners, compared to zero in Washington.

"There's a huge cost of living differential, and state tax," he said. "I felt the pinch when I moved down."

One employee even kayaks across Seattle's Lake Union to work at Tableau, which is now worth more than $4 billion after going public last year and has expanded its workforce by 65 percent in the last 12 months.

"It's so hard to hire people now," said Goli at Dice. "That's driving the necessity for companies to get more creative and find other pockets, like Seattle, to go set up shop."

(Reporting by Bill Rigby, editing by John Pickering)

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Ripple Unveils Next-Generation System for Digital Transaction Consensus

CoinDesk, 1/1/0001 12:00 AM PST

Ripple Labs has released a white paper detailing its newly launched network consensus algorithm.

MIT Student Bookstore, The COOP, to Accept Bitcoin

CryptoCoins News, 1/1/0001 12:00 AM PST

The Massachusetts Institute of Technology’s student bookstore ‘The COOP‘ announced plans to begin accepting Bitcoin through payment processor BitPay, making them the first major university bookstore to accept the cryptocurrency. In such a vibrant, young Bitcoin community, this could be a huge way of introducing Bitcoin to the future’s brilliant minds. As BitPay Co-Founder and Executive Chairman […]

The post MIT Student Bookstore, The COOP, to Accept Bitcoin appeared first on CryptoCoinsNews.

BREAKING: UK Chancellor to Outline Bitcoin Measures in Budget 2015

CryptoCoins News, 1/1/0001 12:00 AM PST

The budget is one of the most important days on the UK political calendar as the Chancellor declares new taxation rules, new financial measures to help grow the economy and sets the public spending levels. It is often held in March and is closely watched due to its potential to affect the wealth of millions […]

The post BREAKING: UK Chancellor to Outline Bitcoin Measures in Budget 2015 appeared first on CryptoCoinsNews.

MIT Bookstore Accepts Bitcoin Payments as Campus Interest Grows

CoinDesk, 1/1/0001 12:00 AM PST

A bookstore serving the MIT campus is now accepting bitcoin amid rising interest in bitcoin at the university.

Bitcoin Implication: USA Claims it has Rightful Access to Data Stored Abroad

CryptoCoins News, 1/1/0001 12:00 AM PST

The U.S. Government, currently in a legal battle against Microsoft, wants the latter to turn over a customer’s emails stored overseas that is suspected to be linked to a case of narco-trafficking. While the software editor denounces a flagrant infringement of privacy rights, the U.S. Government took refuge behind the argument that although the offending […]

The post Bitcoin Implication: USA Claims it has Rightful Access to Data Stored Abroad appeared first on CryptoCoinsNews.

KnCMiner Announces $14 Million Series A Funding Round

CoinDesk, 1/1/0001 12:00 AM PST

Bitcoin mining firm KnCMiner has raised $14 million in a Series A round led by Nordic VC fund Creandum.

CEO of Bitcoin-Based Black Market Site Will Plead Guilty

Inc, 1/1/0001 12:00 AM PST

The site generated more than $1 billion in illegal transactions, according to authorities.






Obituary: Hal Finney

The Economist, 1/1/0001 12:00 AM PST

UK Only Article:  standard article Issue:  The long game Fly Title:  Obituary Rubric:  Harold Finney, futurist and cypherpunk, died on August 28th, aged 58 Main image:  20140906_OBP001_0.jpg AS IT turned out, Hal Finney was not Satoshi Nakamoto. But for a short while, at least, some people thought he might be. “Satoshi Nakamoto” is the most famous non-person on the internet. The name is a pseudonym, meant to hide the shadowy programmer (or programmers) behind Bitcoin, a computerised currency designed to liberate money from the control of any central bank. Speculating about his true identity is a popular pastime in some of the more esoteric corners of the web. Still, Mr Finney was a good guess. As a cryptographer and a programmer he had the skills, for Bitcoin relies on cryptography to function. Having been an early adopter (he was, with the fabled Mr Nakamoto, a partner in the world’s first ever Bitcoin transaction) he certainly had the pedigree. And he had the beliefs, too. He was one of the ...

5 Reasons Merchants Should Start Accepting Bitcoin Now

Entrepreneur, 1/1/0001 12:00 AM PST

Coinbase's Adam White lays out the bottom-line benefits of embracing Bitcoin payments

PayStand Releases Bitcoin Plugin for WordPress Merchants

CoinDesk, 1/1/0001 12:00 AM PST

PayStand has released an e-commerce plugin for WooCommerce, a popular free toolkit for WordPress merchants.

Bitcoin Price Analysis: Consolidation Before Break-Out

CryptoCoins News, 1/1/0001 12:00 AM PST

The Bitstamp exchange chart’s Bitcoin trading range has narrowed to between $471 and $478. This $7 range has been in effect for almost 36 hours and is a sign that a market consolidation is underway. Moving Average Compression The MACD (pronounced “Mac D”) indicator is a measure of the distance between two moving averages. A […]

The post Bitcoin Price Analysis: Consolidation Before Break-Out appeared first on CryptoCoinsNews.

BitFury Capital Invests in Bitcoin Security Specialist BitGo

CoinDesk, 1/1/0001 12:00 AM PST

BitFury Capital, the investment arm of bitcoin mining infrastructure provider BitFury, has announced an undisclosed investment in BitGo.

Alternet Creates a B2B Global Bitcoin Payment Solution

CryptoCoins News, 1/1/0001 12:00 AM PST

Alternet Systems has announced that its subsidiary Alternet Payment Solutions (APS) launched its worldwide Bitcoin payment processing business. They accomplished this through a strategic channel partner agreement with BitPay. APS has entered into a non-exclusive agreement to sell and support the BitPay platform into Alternet’s customer base. With Alternet’s experience in the mobile and disruptive […]

The post Alternet Creates a B2B Global Bitcoin Payment Solution appeared first on CryptoCoinsNews.

Top US Colleges Begin Offering Bitcoin Courses

CoinDesk, 1/1/0001 12:00 AM PST

Two top American colleges, New York University and Duke University, are offering courses on cryptocurrencies for the first time.

Do These “Free Bitcoin” Sites Work?

CryptoCoins News, 1/1/0001 12:00 AM PST

Google the phrase “free bitcoin” and you won’t be disappointed with the number of results. What you will be disappointed with however is the nature of the sites claiming to offer “free” bitcoins. As the old saying goes: “Nothing in life is free.” What these sites actually do is require you to perform time consuming tasks […]

The post Do These “Free Bitcoin” Sites Work? appeared first on CryptoCoinsNews.

KnCMiner Further Snubs Neptune Customers With Cloud Hosting

CryptoCoins News, 1/1/0001 12:00 AM PST

KnCMiner is still in the process of shipping Neptune Bitcoin miners, but now offers cloud hosting. One cloud hosting package gives you 3TH/s for less than $1,000 per month and you do not need to pay for power. Neptunes cost pre-order customers $12,995 and also give you 3TH/s, but you pay for shipping costs, a PSU to […]

The post KnCMiner Further Snubs Neptune Customers With Cloud Hosting appeared first on CryptoCoinsNews.

Bitcoin? Yawn. CheapAir Is Now Taking Litecoin and Dogecoin

Forbes, 1/1/0001 12:00 AM PST

"Big banks have such a stranglehold on commerce with their 3% per transaction fees. They need some competition and digital currencies are best suited to provide it."

Bitcoin? Yawn. CheapAir Is Now Taking Litecoin and Dogecoin

Forbes, 1/1/0001 12:00 AM PST

"Big banks have such a stranglehold on commerce with their 3% per transaction fees. They need some competition and digital currencies are best suited to provide it."

Bitcoin? Yawn. CheapAir Is Now Taking Litecoin and Dogecoin

Forbes, 1/1/0001 12:00 AM PST

"Big banks have such a stranglehold on commerce with their 3% per transaction fees. They need some competition and digital currencies are best suited to provide it."

CoinOutlet Enters Bitcoin ATM Market With Low-Cost, Two-Way Model

CoinDesk, 1/1/0001 12:00 AM PST

CoinOutlet has launched a bitcoin ATM with a price that finds a medium between market leaders Robocoin and Lamassu.

GoCoin Partners With Cheapair and BTCTrip: Fly Using Dogecoin or Litecoin!

CryptoCoins News, 1/1/0001 12:00 AM PST

Digital currency enthusiasts browsing for cheap plane tickets and/or hotel bookings on the popular website Cheapair.com were greeted with a surprise today: Cheapair now accepts Litecoin and Dogecoin. Cheapair has partnered with GoCoin, currently the most established Litecoin and Dogecoin payment processor in the world. Litecoin and Dogecoin users around the world now have two […]

The post GoCoin Partners With Cheapair and BTCTrip: Fly Using Dogecoin or Litecoin! appeared first on CryptoCoinsNews.

GoCoin Partners With Cheapair and BTCTrip: Fly Using Dogecoin or Litecoin!

CryptoCoins News, 1/1/0001 12:00 AM PST

Digital currency enthusiasts browsing for cheap plane tickets and/or hotel bookings on the popular website Cheapair.com were greeted with a surprise today: Cheapair now accepts Litecoin and Dogecoin. Cheapair has partnered with GoCoin, currently the most established Litecoin and Dogecoin payment processor in the world. Litecoin and Dogecoin users around the world now have two […]

The post GoCoin Partners With Cheapair and BTCTrip: Fly Using Dogecoin or Litecoin! appeared first on CryptoCoinsNews.

GoCoin Partners With Cheapair and BTCTrip: Fly Using Dogecoin or Litecoin!

CryptoCoins News, 1/1/0001 12:00 AM PST

Digital currency enthusiasts browsing for cheap plane tickets and/or hotel bookings on the popular website Cheapair.com were greeted with a surprise today: Cheapair now accepts Litecoin and Dogecoin. Cheapair has partnered with GoCoin, currently the most established Litecoin and Dogecoin payment processor in the world. Litecoin and Dogecoin users around the world now have two […]

The post GoCoin Partners With Cheapair and BTCTrip: Fly Using Dogecoin or Litecoin! appeared first on CryptoCoinsNews.

CheapAir Now Accepts Litecoin and Dogecoin for Flight Bookings

CoinDesk, 1/1/0001 12:00 AM PST

Online travel agency CheapAir.com is now accepting litecoin and dogecoin for flight bookings.

CheapAir Now Accepts Litecoin and Dogecoin for Flight Bookings

CoinDesk, 1/1/0001 12:00 AM PST

Online travel agency CheapAir.com is now accepting litecoin and dogecoin for flight bookings.

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