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Overstock CEO Patrick Byrne announced that Overstock will donate 4% of their Bitcoin revenue to organizations promoting Bitcoin adoption. At this point in time, Overstock has selected the Chamber of Digital Commerce as the first organization that will be donated to. “The cryptocurrency movement is at a critical stage in its evolution. Adoption among the […]

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Day one of the Crypto Valley Summit on the Isle of Man ended on a positive note, despite a dire outlook at the outset.

A referendum on whether Scotland should be an independent country will take place tomorrow, Thursday, 18th September 2014. To pass, the independence proposal requires a simple majority of about 4 million voters. According to recent polls, it’s going to be a close call. What will happen to Scotland’s economy if the YES have their way, […]

The post An Independent Scotland Powered by Bitcoin? appeared first on CryptoCoinsNews.

Mega Chill, a medical marijuana dispensary based in Vancouver, is now accepting bitcoin.

Since the losses incurred at Mt Gox the cryptocurrency community has been especially vigilant at demanding regular audits from exchanges to prove their holdings. Exchanges have commonly passed with surplus assets. Good examples of this being Kraken who checked in at 100.5% and OkCoin who had a whopping 104.86% of their stated holdings. On occasions […]

The post The Federal Reserve Should Be As Transparent As Bitcoin Bussinesses appeared first on CryptoCoinsNews.

Coinbase has released Toshi, a new free API toolkit for bitcoin app developers.

High-risk merchant account specialist Instabill is now offering banking services to the Isle of Man.

Coinkite has announced that it is now running a public obelisk server, a technology that works as a full bitcoin node and data server. Coinkite feels that there are too few of them available and has therefore decided to put together one for the Bitcoin community. Obelisk – What is It? Obelisk is a full […]

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While global interest in bitcoin is increasing, startups in its largest market are facing hurdles that threaten innovation.

Bitcoin price action has, during the past 24-hours, seen a lower low (for decline since 21 August) established across most exchanges. Although indicators are stretched to the max, additional downside is on the cards. Analysis, below, considers the options.   Bitcoin Wave Structure Recount The Bitstamp chart below shows the lower low established during trade […]

The post Bitcoin Price Decline Continues appeared first on CryptoCoinsNews.

As soon as day traders realized that Bitcoin may be here to stay, a large number of them decided to start trading bitcoins on various Bitcoin exchanges. Although the early days of Bitcoin were plagued with plenty of scams where exchanges or wallet providers would run away with the bitcoins overnight, the reality is that […]

The post How to Trade Bitcoin appeared first on CryptoCoinsNews.

If you weren't already convinced about what a nightmare deflation would be for the Eurozone, credit ratings agency Fitch has a grim report out, showing the sort of issues the struggling bloc could be hit by.

"A classic debt deflation feedback loop could ensue," according to the authors. Among economists, that's better known as the "doom loop."

A total lack of growth and inflation could put huge pressure on national budgets, and cripple the ability of governments to assist struggling banks, with credit ratings slashed all round.

Deflation could hit government finances for two reasons. Firstly, the interest government pays when it issues bonds depends on inflation. For example, if the French government issued a 10-year bond in 2007, an investor expecting 2% inflation might want a 2.5% yield. Nobody likes losing money.

If inflation then dropped to -1%, the investor would be getting a much better deal on his bond. But the French government would not be happy — it would be paying an even greater sum of money to make that bondholder whole at 2.5% than it needed to had it guessed the rate better.

Secondly, if prices in shops fall, revenues from sources like sales taxes will suffer too.

Fitch is stressing the massive risks from deflation in the Eurozone: the scenario doesn’t even require dramatic numbers. In the projection, inflation drops to -1% in 2015 and 2016, and rises to 0% afterwards. This is what it might do to government debt: 

The picture is not pretty. The "doom loop," coined by the Bank of England in 2009, means any government help for banks would raise their debt, making the countries themselves less stable. Fitch says that if banks deteriorate and finance ministries have to pick up the bill, they risk being downgraded themselves. 

Fitch reckons unemployment would rise to about 12% and stay there. That’s more than twice the rate Japan recorded when inflation went into reverse there. 

Investors wouldn’t like it either. The rating agency says the weak nominal GDP growth “would be bad for equity, property and other non-fixed income asset prices. Japan’s aging population invested heavily in bonds during the country’s deflationary decade. 

European banks themselves would be increasingly stressed, withdrawing from international lending at hitting economies in the rest of the world too. 

The researchers are pretty negative about the European Central Bank coming to the rescue. Fitch says "its actions to date cannot be regarded as pre-emptive", and that a "misreading of the economic outlook" could mean European countries are left to deal with such crises on their own. 

The authors say the deflation outcome isn't their most likely, but the risks for the embattled currency union are still on the downside. 

SEE ALSO: Here’s Europe’s 50 Year Nightmare

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Bitcoin magnate Roger Ver has launched a new website designed to help catch criminals using anonymous cryptocurrency bounties.

Bitcoin.org is currently under a DDoS attack making the site inaccessible. The attack is currently being discussed on IRC. Transcript of the discussion: [20:10] <@jgarzik> saivann, https://bitcoin.org not working here [20:12] < michagogo> Hm, same here [20:12] * | michagogo checks http://isup.me/bitcoin.org [20:13] < michagogo> Not pinging, either [20:15] < saivann> Sigh, probably one of […]

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While many people believe there is a divide in the Bitcoin community when it comes to the early-adopting libertarians and the new breed of venture capitalists, it seems that the real battle in the world of cryptocurrency is between Bitcoin and appcoins. Around the same time that Chris Odom, the creator of Open Transactions, was […]

The post Bitcoin Core Developer Jeff Garzik Believes NXT is a “Scamcoin” appeared first on CryptoCoinsNews.

While many people believe there is a divide in the Bitcoin community when it comes to the early-adopting libertarians and the new breed of venture capitalists, it seems that the real battle in the world of cryptocurrency is between Bitcoin and appcoins. Around the same time that Chris Odom, the creator of Open Transactions, was […]

The post Bitcoin Core Developer Jeff Garzik Believes NXT is a “Scamcoin” appeared first on CryptoCoinsNews.

Bitcoin API developer Gem has completed a $2m seed-funding round and appointed a former PayPal executive as COO.

Rodrigo Benzaquen, a former director at Latin American e-commerce giant MercadoLibre, has joined Moneero's board of directors.

Bitcoin officially infiltrated one of the two major United States political parties this weekend when the Louisiana Republican Party (LAGOP) began accepting bitcoin donations. “The party hasn’t publicly launched our bitcoin donation page, but the link went live over the weekend,” LAGOP Executive Director Jason Dore told CCN. “We plan to do a public launch […]

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There has been a massive hack attack on more than 20,000 Australian computers according to SMH and Stay Smart Online. Reports say that thousands of Australian PCs have been frozen and locked by hackers using a software that encrypt all files on the computers. The malicious and damaging software then asks for a ransom in […]

The post BREAKING: Massive Hack on Australian Computers, Demands Bitcoin appeared first on CryptoCoinsNews.

The Republican Party of Louisiana is now accepting contributions in bitcoin via its official website.

After undergoing a decline for most of the year, the Peercoin price catapulted by nearly 40% in a single day. The impressive price increase followed the announcement of a release date for a secret project that will purportedly reduce Peercoin volatility. Many investors have placed speculative investments in Peercoin, but is this a good idea? […]

The post Peercoin Price Surges After Peershares Developer Announces Release Date for Secret Project NuBits appeared first on CryptoCoinsNews.

Today, XCurrency has released a brand new trustless mesh network that looks to create revolutionary advancement in privacy, scalability and mobility. This is the final component of the company’s Rev 2 privacy solution and is a single protocol with many possibilities for users and enthusiasts. This new service will allow any node to communicate on behalf of others, without having to trust forwarding nodes. The addition of XC’s trustless ad hoc mesh networking comes just months after the company announced XMixer, where nodes can earn revenue for the trustless forwarding of transactions. It seems the company is taking large strides toward creating a truly trustless process, one that may play a key role in the advancement of blockchain 2.0 technologies. […]

The post XCurrency’s New Trustless Ad Hoc Mesh Network appeared first on Bitcoin Magazine.

After learning about Bitcoin for the first time, the next thing a person usually wants to do is learn how to buy Bitcoin. Although a common misconception is that Bitcoin is some kind of company with stock available for trade online, the reality is bitcoins are nothing more than a digital currency. This means bitcoins […]

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According to the Liteshack, the Litecoin network hash rate reached 1TH/s, the equivalent of 1PH/s in Bitcoin, which was a milestone heralded as the arrival of Bitcoin. This comes on the heels of the merge mining of Dogecoin and Litecoin. In an effort to survive, Dogecoin has switched to an auxiliary proof-of-work. The merger alone […]

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According to the Liteshack, the Litecoin network hash rate reached 1TH/s, the equivalent of 1PH/s in Bitcoin, which was a milestone heralded as the arrival of Bitcoin. This comes on the heels of the merge mining of Dogecoin and Litecoin. In an effort to survive, Dogecoin has switched to an auxiliary proof-of-work. The merger alone […]

The post Litecoin Reaches a Milestone – 1TH/s appeared first on CryptoCoinsNews.

According to the Liteshack, the Litecoin network hash rate reached 1TH/s, the equivalent of 1PH/s in Bitcoin, which was a milestone heralded as the arrival of Bitcoin. This comes on the heels of the merge mining of Dogecoin and Litecoin. In an effort to survive, Dogecoin has switched to an auxiliary proof-of-work. The merger alone […]

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digitalBTC and Cryptsy are building a new platform called Mintsy that will offer tradable mining contracts.

GMX, the free email provider used by Bitcoin's creator, says it can't talk about the hack of Satoshi Nakamoto's account for privacy reasons, but does confirm that inactive accounts are terminated after 6 months.

A new policy perspective from the Federal Reserve Bank of Boston examined the various aspects of bitcoin.