Coin News

Bitcoin is gaining traction as a payment option for low-cost items at a popular Las Vegas casino.

A number of bitcoin mining pools around the world have been hit by a recent string of DDOS attacks.

A winner of the latest US Marshals bitcoin auction may have been identified by blockchain and crowdsourced analysis.

The newly rebuilt Bter.com, one of the world’s largest altcoin trading platforms, has announced that it has joined forces with JUA.com and is stepping up its security system. It has also set forth a plan for repaying all users who lost funds due to a recent theft. On the security side, JUA.com will provide 100 percent cold wallet escrow storage of users’ funds, and will gradually take on hot wallet security for deposits and withdrawals as well. Bter has already worked with JUA.com since the hack to review all security-related code, and has completely rebuilt the trading platform’s back end. JUA.com will also front a 1,000 bitcoin interest-free loan to Bter in exchange for shares, for the purpose of repaying […]

The post Bter Teams with JUA.com to Upgrade Security, Repay Victims of Recent Hack appeared first on Bitcoin Magazine.

The newly rebuilt Bter.com, one of the world’s largest altcoin trading platforms, has announced that it has joined forces with JUA.com and is stepping up its security system. It has also set forth a plan for repaying all users who lost funds due to a recent theft. On the security side, JUA.com will provide 100 percent cold wallet escrow storage of users’ funds, and will gradually take on hot wallet security for deposits and withdrawals as well. Bter has already worked with JUA.com since the hack to review all security-related code, and has completely rebuilt the trading platform’s back end. JUA.com will also front a 1,000 bitcoin interest-free loan to Bter in exchange for shares, for the purpose of repaying […]

The post Bter Teams with JUA.com to Upgrade Security, Repay Victims of Recent Hack appeared first on Bitcoin Magazine.

Intuit has expanded its bitcoin merchant processing product PayByCoin to Australia’s small business segment.

Ross Ulbricht has not even been sentenced yet for his conviction as leader of Silk Road, the Amazon for drugs, and he’s already requesting a new trial. Joshua Dratel, Ulbricht’s attorney, filed a motion that includes evidence that suggests the federal government gained access to the server that Silk Road was on without a warrant. Further, the defense argues that the government may have tried to hack into the site. On February 4, after only 3 ½ hours of deliberation, a New York federal jury found Ulbricht guilty on all seven charges, including drug trafficking, computer hacking, money laundering, running a criminal enterprise and fraud with identification documents. Should the seven felonies stand, Ulbricht would be sentenced to a minimum […]

The post Ulbricht’s Lawyer Files for Retrial appeared first on Bitcoin Magazine.

The Wall Street Bitcoin Alliance has launched to promote digital currency and blockchain technology adoption across financial markets.

Coinbase, one of the largest and fastest growing companies in the Bitcoin space, recently received a $75 million investment from high-profile backers and launched an exchange. In addition to recently announcing their Series C funding and launching the first licensed exchange in the United States, Coinbase is focusing on continued international expansion and promoting their developer platform. Adam White, head of business development and strategy at Coinbase, tells Bitcoin Magazine that Coinbase Exchange has been live for about a month, and it’s already one of top five exchanges in the world in terms of USD trading volume. “The idea for our exchange came from the fact that there were exchanges around the world providing great service, but few operating in […]

The post A Conversation with Coinbase’s Adam White appeared first on Bitcoin Magazine.

This chart, from JP Morgan Asset Management, shows saving early is the best thing a person can do for their retirement account.

Young people just joining the labor force can reasonably expect they won't have a pension waiting for them come retirement. We've moved to the age of 401(k)s and individual retirement accounts, which gives us more control over our future. Whether that's a good thing is another discussion for another day.

Compound interest is power

This discussion is about how young people can use basic math to their advantage. Compound interest is a friend to young people, if they start saving early.

What is compound interest? It's just easy math. When you start saving, that money earns interest. The interest makes the pot of money bigger, so it starts accruing more interest. Over a lot of years, that little bit of interest early in the process makes a big different. 

You can see in the chart above that saving a little bit every year from age 25 to 35 means a lot more money at 65 than if the person had started saving — even with a lot of money — at 35.

How Susan crushed Bill in a third of the time

JP Morgan's example consists of three people who experience the same annual return on their retirement funds: Susan, who invests $5,000 per year only from ages 25 to 35 (10 years); Bill, who also invests $5,000 per year, but from ages 35 to 65 (30 years); and Chris, who also invests $5,000 per year, but from ages 25 to 65 (40 years).

Intuitively, it makes sense that Chris would end up with the most money. But the amount he has saved is astronomically larger than the amounts saved by Susan or Bill.

Interestingly, Susan, who saved for just 10 years, has more wealth than Bill, who saved for 30 years. That discrepancy is explained by the power of compound interest.

The longer you wait to start saving for retirement, the more you miss out on the benefits of the incredible power of compound interest.

SEE ALSO: Ex-JP Morgan superstar Blythe Masters is getting into the Bitcoin business

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Price is drawing a horizontal path and pulling the moving averages to itself. The market has established a consolidation range between $290 and $300 prior to making the move higher. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Not a member? Join now and receive a $29 […]

The post Bitcoin Value Still Brewing An Advance Above $300 appeared first on CryptoCoinsNews.

The Wall Street Bitcoin Alliance (WSBA) is a new organization formed by business and technology executives and leaders within the financial industry, including banks, broker-dealers, institutional investors and hedge funds. The announcement states that the mission of the WSBA is to guide and promote comprehensive adoption of digital currency and blockchain technology across financial markets. The member-driven WSBA will interface with national and international government agencies and regulators, as well as technology innovators. “Bitcoin and blockchain technology and protocols represent a seismic shift in how financial markets, and all aspects of the global economy, will operate in the future,” said Ron Quaranta, executive director of WSBA. “As we work to incorporate and adapt these powerful technological advances to the world […]

The post Wall Street Bitcoin Alliance Launches to Reflect Growing Institutional Interest appeared first on Bitcoin Magazine.

Hacked altcoin exchange, Bter, has outlined a plan to payback users after inking a deal with security firm Jua.com.

For the third time, open source developer, creator of BFGMiner, and founder of the Eligius mining pool, Luke-Jr, has been publicly attacked for what some view as unilateral patching of Bitcoin core packages in the Gentoo Portage repository. At issue is the Bitcoin Core developer’s implementation of what he considers “improved spam filtering.” The commonly […]

The post Bitcoin Developer Taking Hits: Shedding Light on the Luke-Jr Controversy appeared first on CryptoCoinsNews.

Americans have had it good for a long time. Since the end of WWII, it has been a privilege to be an American. Since the United States took over the Global Reserve Currency from Britain in 1944 at Bretton Woods, life couldn’t be better for an American. When you have a license to print money […]

The post China now Controls Bitcoin (and that’s just the Beginning) appeared first on CryptoCoinsNews.

Two landmark lawsuits that claim that drivers for ride-hailing services Uber and Lyft should be considered employees rather than contractors will both go to jury trial, two U.S. judges ruled Wednesday. The decisions could have a ripple effect on the business models of the burgeoning on-demand and sharing economies.