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Ed and Ethan’s Bitcoin Report 011 Cameron Ruggles with BitWasp

Patrick Byrne on online retailers accepting Bitcoin

http://techliberation.com / by on April 22, 2014

Patrick Byrne, CEO of Overstock.com, discusses how Overstock.com became one of the first online retail stores to accept Bitcoin. Byrne provides insight into how Bitcoin lowers transaction costs, making it beneficial to both retailers and consumers, and how governments are attempting to limit access to Bitcoin

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Bitcoin Prices and Charts – Data from Quandl

quandl

SovereignBTC #12 – Bitcoin, Privacy, and You

DogeCon SF — Ron Paul — Gas Stations Should Accept Bitcoin — Shrem — Blockchain Awards

PYMNTS Launches Bitcoin Price and Volatility Indices

http://www.pymnts.com / 7:34 AM EDT April 15th, 2014 

What is the value of a bitcoin?  This is not a metaphysical question about the nature and purpose of digitally backed currency, in fact it is very straightforward—in U.S. Dollars, what is a bitcoin worth? The answer has been far less straightforward, since until now it could vary based on what source one consulted.

Today that changes, with the official release of the real-time Bitcoin Price Index by PYMNTS to track the trading price of bitcoins.  PYMNTS is also officially announcing the Bitcoin Volatility Index to track the volatility of bitcoin and other alt-currencies compared with traditional currencies monthly.

“There’s too much cheerleading of alt-currencies from some quarters and too much scorn heaped on them from others,” according to Karen Webster, President of PYMNTS.com. “We’re focused on solid analyses of bitcoin and other alt-currencies. The new indices show our commitment to investing resources to help the payments community understand these new payment platforms.”  Webster also noted that PYMNTS.com is planning to extend the indexes to other alt-currencies such as Dogecoin and Ripple.

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BitBeat: Bitcoin’s Status in China Not So Black-and-White

http://blogs.wsj.com / By Paul Vigna and Michael J. Casey / Apr 14, 2014

- Bitcoin prices continue to recover from the China-induced selloff. Prices are up another 10% or so, on pretty heavy volume.

Yes, as we relayed last week, some Chinese bitcoin-exchanges received notices from their banks that they wouldn’t handle any bitcoin-related transaction services. That caused the price of bitcoin to swoon. But it started rebounding on Friday after the governor of the People’s Bank of China said the government is not going to ban bitcoin. It continued to rise over the weekend and Monday as bitcoiners grew less concerned.

There seems to be good reason for the growing ease. BTC China, the most well-known of the Chinese exchanges, has yet to receive any notices, according to CEO Bobby Lee. “We are so excited that we have not heard anything from the banks,” Mr. Lee told BitBeat. “It looks like we’re going to coast through this episode gracefully.”

But he has his fingers crossed. The events of the past week have convinced him that the government has disseminated what amounts to a “confidential” policy, which has led to uneven enforcement. It may just be an accident that his company hasn’t been hit by the notice, he said.

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CoinTalk 21 – Texas Bitcoin Conference – Jeff Berwick

MMM #16 – There’ll Be Blood

Texas Takes First State Steps to Regulate Bitcoin

http://www.govtech.com / by Aman Batheja / April 14, 2014

Texas will not treat Bitcoin and other virtual currencies as legal money, according to a new memo from the Texas Department of Banking. Yet some companies that deal in Bitcoin transactions could draw state oversight, even if they are based outside of Texas.

Texas Banking Commissioner Charles Cooper issued a memo this month outlining the agency’s policies involving virtual currencies like Bitcoin.

“At this point a cryptocurrency like Bitcoin is best viewed like a speculative investment, not as money,” Cooper said in a statement.

In his memo, Cooper provided reasoning that echoed the IRS. Last month, the federal agency announced that, for tax purposes, it would treat Bitcoin as property instead of currency because no government recognizes the virtual currency as legal tender.

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Let’s Talk Bitcoin – E101 – The Why of Bitcoin

White Shoe Firm itBit: Bitcoin Exchange Built On Stability

http://www.ihavebitcoins.com /  By admin on 2014-04-14

With the concept of digital currencies gaining traction in several parts of the world, newcomers to the Bitcoin ecosystem are presented with a multitude of exchanges to aid them in their digital trading. However, sensational news headlines and panic mongering concerning hackers and untrustworthy management has intimidated many new entrants to the market.

Investors and traders are looking for a stable and secure exchange to trade digital currencies with ease, and a drama-free experience when it comes to withdrawing their funds. In short, they are looking for a “white shoe firm”.

To meet consumer’s demands, itBit, a Singapore based exchange has committed itself to a high level of security and regulatory compliance. itBit is a bitcoin exchange built with global equity exchange standards. Institutional investors, commercial businesses, and retail investors can use the platform to trade bitcoin with U.S. dollars, Singapore dollars and Euros worldwide. The exchange relies on top tier finance and security practices, employing state of the art exchange technology, Thomson Reuters for screening and continuous suspicious activity monitoring, and Jumio for identity verification.

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Why Apple Cannot Ignore Bitcoin Forever

http://cryptocrimson.com / 14 Apr 2014   Posted by Aaron Sines

“Here’s to the crazy ones. The rebels. The troublemakers. The ones who see things differently. While some may see them as the crazy ones, we see genius. Because the people who are crazy enough to think they can change the world, are the ones who do.” – Apple Inc.

This slogan was the central focus of Apple’s “Think Different” ad campaign that went on to receive the 1998 Emmy Award for Best commercial and the 2000 Grand Effie Award for most effective campaign in America. Many argue that since the passing of the late Steve Jobs, Apple has lost this vision — some would say the company’s position in regards to bitcoin is supportive of this theory.

To get straight to the point of a possible explanation for Apple’s apprehension in respect to bitcoin — it is quite simple. In a Forbes piece by the Bitcoin Foundation’s Jon Matonis he explains, “With the introduction of Passbook, Apple has launched mobile payments on iOS and competing virtual payment systems, including bitcoin, must be terminated.”

Further support of Apple’s stance against bitcoin came on January 16th of 2014 when a patent dubbed “Method to send payment data through various air interfaces without compromising user data” was published by the US Patent and Trademark Office. Then just days later came Apple’s well-publicized removal of the Blockchain app which ensued with dozens of angry iPhone users destroying their devices in a most public matter.

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Wikipedia cautious about Bitcoin — Price Bounces Back — Neo Bee Fraud

Jimmy Wales Takes Bitcoin for a Test Drive, Comes Back ‘Cautious’

Last month, Jimmy Wales, Wikipedia’s co-founder, announced on twitter that he was “playing with Bitcoin” and had bought 0.1 BTC through Coinbase. This caused an influx of happy responses from Bitcoin users. On reddit post, Jimmy Wales asked the Bitcoin community how Bitcoin could be incorporated for donations on Wikimedia.

On a reddit post, Jimmy Wales wrote,

“I’ve been watching bitcoin for a long time, of course, and I thought it past due to test it as a consumer – how hard is it, how confusing is it, etc.”

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Legendary Venture Capitalist Fred Wilson Shares Thoughts on Bitcoin

coinreport.net / By :   / Posted On 14 Apr 2014

Fred Wilson is the co-founder of Union Square Ventures, a venture capitalist firm that has made investments in companies like Tumblr, Twitter, Foursquare, Zynga and Kickstarter.

Wilson compares bitcoin to the internet, in that both operations are completely open to the public and have no central authority calling the shots. He says:

“Bitcoin’s kind of the same way. It’s a completely open system. Nobody controls it. It’s not owned by a company. It just is. It’s Bitcoin.” 

Wilson feels that bitcoin is an open source dedicated to allowing others to build stuff with.

He says the services that blockchains offer will be replicated for different applications other than bitcoin. Wilson believes the architecture surrounding blockchain programs is too valuable for other platforms not to adopt.

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Why Bitcoin Could Be Worth $200 Billion Market Cap By 2016

Participants of roundtable Bitcoin Conference Russia

Very soon, on April 23, 2014, Moscow will host the first conference about Bitcoin. And we continue to announce new participants and new formats of communication and discussion.

Conference program includes speeches by renowned experts of cryptocurrency industry (Bastian Brand, Porhunov Alexey, Ivan Montik, Nick Grebnev, ArtemTolkachev, VytautasKaralevičius, Maxim Kiselev, DmitriyGunyashov, Eli Sklar etc.) on the most pressing industry issues. Each block of reports will be followed by three roundtables on the future, safety and legal regulation of cryptocurrency.

We are glad to present you participants ofthe first Russian Conference on Bitcoin.

The list of speakers of round table on “Bitcoin: pyramid investment scheme or coin of the future?” is as follows:

• Alexey Porhunov – Bitcoin-enthusiast, consultant and coordinator of several bitcoin-projects.

• VytautasKaralevičius- CEO of European Bitcoin exchange Spectro Coin(Lithuania).

• Maxim Krupyshev – Kiev geek, managing director of Smetner, CEO at Fruitwallet.Founder of Satoshi Square Ukraine and Bitcoin Foundation Ukraine that develop cryptocurrency in Ukraine.

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BTC-e Back Online Following Attack

coindesk.com / By Nermin Hajdarbegovic / Published on April 14, 2014

BTC-e was down briefly on Sunday, following a powerful distributed denial of service (DDoS) attack against its servers.

DDoS attacks against bitcoin exchanges have gained notoriety since the ‘massive and concerted’ attack which targeted multiple organisations earlier this year.

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Can You Use Bitcoin for a Tax Haven?

Bitcoin finally pays off in secure cloud storage

infoworld.com / By   / April 14, 2014

Bitcoin may finally be coming into its own as a cryptocurrency, despite the implosions of several online exchanges and the IRS regarding the digital cash system as property, not currency. But the real value of bitcoin may reside with other applications for its underlying algorithms.

A startup named Storj.io has hatched one such idea: use the blockchain, or the ledger of bitcoin transactions distributed across computers that interact with bitcoin’s network, as a way to denote where files are stored in participating servers on the network. The files themselves are public-key encrypted before being inserted into the network.

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CITP Bitcoin Panel 3 Building collaborations between developers and researchers

Florida bitcoin case tests limits

journalgazette.net / By CURT ANDERSON / Published: April 14

MIAMI BEACH, Fla. – Two police officers burst through a hotel room door with guns drawn, yelling “Police! Get down!” just after an alleged money laundering transaction went down. But instead of briefcases stuffed with a drug dealer’s cash, this exchange involved an undercover officer with supposedly stolen credit cards and the virtual currency bitcoin.

 

The February arrests of Pascal Reid and Michell Espinoza marked the first time any state has brought money laundering charges involving bitcoins, according to Miami-Dade State Attorney Katherine Fernandez Rundle.

And it’s likely to be a closely watched test of whether criminal law can adapt to new digital forms of payment.

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Know-Your-Customer Rules Won’t Work With Bitcoin

edembac.wordpress.com / by Edemba  / Posted on April 14, 2014

Bitcoin as a whole is a decentralized system that doesn’t require any third parties to interact with, and can’t be controlled or directly regulated by any central authority. he only thing that any government would have jurisdiction over are exchanges and other services located within its borders, to which the KYC rules would apply.

KYC rules require money-related services to be able to identify all their customers, and self report ‘suspicious activity’ that can be signs of anything from money laundering to terrorist financing. In the traditional financial sector, this makes money laundering much more difficult (although nowhere near impossible). This is because, in order to interact with the modern financial system and transmit money electronically, you need to use a third-party service such as a bank, which are easy points of regulation.

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