Crypto-Currencies Will Destroy The Criminal Bankster's Monopoly On Money
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cointelegraph.com / Ian DeMartino / 2014-09-30 07:04 PM
The cloud mining prices wars are heating up and KnCMiner is throwing its hat into the ring with the lowest price in the industry: US $0.62 GH/s. There are some caveats to that price, but it is extremely competitive regardless of which way you cut it.
KnC is known primarily for their ASIC mining hardware. Like many companies who realized that mining at home is simply not feasible or cost effective for many users who are interested in mining, they have recently got into cloud mining, and this new deal, announced late last week, has them entering the ring with a few other companies that have been cutting prices lately.
As KnC points out, the $249 for 400 GH/s for six moths ($49 a month) works out to $0.62 GH/s far below the competition’s prices. The downside is that there are no other options. You can purchase up to 20 packages, but there is no variation on that. With that said, the price still beats the introductory rate at other sites, so not offering other prices is probably a good thing.
maxkeiser.com / Justin O’Connell / October 1, 2014
Since 2011 CompareSilverPrices.com (CSP) has been qualitatively easing the pains of silver investors looking to pay less for more. Now, Bitcoin enthusiasts will enjoy the same service. On October 1st, the website launched a new Bitcoin-centric precious metals service where consumers can quickly shop prices and products from dealers offering the crypto-currency as a payment method.
“Bernank”, head developer and Chief Printing Press operator for CompareSilverPrices.com noted that Bitcoin is a natural choice for bullion dealers:
“It’s clear to me that Bitcoin will become a staple of eCommerce bullion dealers. Paying with Bitcoin often enables the consumer to enjoy immediate shipping (no need to wait for checks to clear or bankwire fees), while ensuring that the dealer always receives their payment. When bullion dealers integrate Bitcoin as a payment option, consumers enjoy the fastest service as there is no need to wait for payment to clear, and gold and silver dealers eliminate the need for a ‘market loss policy’ by collecting payment upfront.”
cryptocoinsnews.com / Josiah Wilmoth / October 1, 2014 at 2:32 pm CET
NuBits launched on September 23 with the goal of creating a currency with a stable price. NuBits accomplishes this by adjusting the coin supply to match investor demand, rather than letting the markets control the price.
NuBits debuted fairly high on the coin market cap charts, and though the sample size is incredibly small, the NuBits market cap has remained steady so far.
NuBits had a smooth launch
Although it is far too early to declare NuBits a success, the coin had a smooth launch and has attracted a respectable amount of capital. CoinMarketCap first listed the NuBits market cap on September 26, and the coin debuted at $2,041,663. Over the majority of the next two days, the NuBits market cap did not fluctuate more than $15,000. On September 28, NuBits experienced a brief bump to almost $2.2 million.
coindesk.com / Jon Southurst / September 30, 2014 at 18:50 BST
Around mid to late 2013, the bitcoin world started waking up to an interesting realization: bitcoin growth wasn’t being driven by the typical finance and tech centers of New York, London or Silicon Valley. In fact, China was playing the more significant role.
At that time, exchange BTC China had already posted the record-high bitcoin price of $308 (CNY equivalent) in April 2013 and was surpassing Mt Gox in trade volumes. Chinese factories were cranking out mining machines and the country’s residents were downloading more bitcoin wallets than anyone else in the world.
In November, China was leading the global rise of bitcoin, as its price was growing exponentially. The digital currency hit its all-time high of over $1,230 a few weeks later.
Then, on 5th December, the People’s Bank of China (PBOC) entered the narrativewith a warning for all financial institutions to steer clear of bitcoin, the first of many that effectively ended bitcoin’s chances at becoming part of China’s everyday economy. Bitcoin’s price fell 25% at the news, and the rest is history.
The Old Fitzroy Hotel in Woolloomooloo was one of the first pubs in Sydney to accept payment by bitcoin credit. Sophie Brown pays for her drink with the Bitcoin app on her phone. Photo: Wolter Peeters
smh.com.au / David Potts / October 1, 2014
When you can buy a round of drinks at the local with something that can’t be seen let alone held, you know bitcoin has made it.
That, or it’s the world’s most elaborate pyramid scheme.
The Old Fitzroy pub in Woolloomooloo, Sydney and the Grumpy’s Green, coincidentally in Fitzroy, Melbourne, many small businesses and big online retailers from Amazon to Zappos accept bitcoins as payment.
Flash your phone with its pre-loaded electronic wallet at the till so the two swap computer codes and the drinks are yours.
Never one to miss a trend, billionaire Sir Richard Branson’s Virgin Galactic accepts bitcoin for your next outer space holiday.
It’s a bigger challenge to paper money than even plastic cards which, come to that, are also threatened.
There’s even an experimental bitcoin debit card from CoinJar that can be used in supermarkets or anywhere that takes eftpos. The “swipe” card converts the bitcoins into your linked bank account.
huffingtonpost.com / Brett King / 09/30/2014 11:35 am EDT
Last night at Innotribe SIBOS I watched the premier of a brand new documentary movie called The Rise and Rise of Bitcoin (TRRB), directed by Nicholas Mross and featuring his brother Dan Mross.
The story of the movie as per the website is explained as follows:
Daniel is a 35-year-old computer programmer from Pittsburgh who lives a busy life. Along with balancing work, his marriage, and raising his three boys, Daniel spends much of his time actively involved in all things Bitcoin. After discovering Bitcoin in 2011, his love and obsession for the crypto-currency was born, revealing an uncharted world of new possibilities for him to explore.
Join us as we take a journey through the rapidly growing world of Bitcoin. Along the way, we’ll follow the stories of entrepreneurs and startups that are helping shape the new financial frontier. We’ll look at the competitive mining market and the various subcultures within the Bitcoin community. You’ll encounter a variety of characters and opinions as we examine the social and political impact of an open-source digital currency. Will the rise of Bitcoin bring a monetary paradigm shift that will forever change the world?
Adam Draper, founder of the accelerator program Boost VC. Draper wants to help launch 100 bitcoin-focused companies. Photographer: Dan Monick/Bloomberg Markets
businessweek.com / Anthony Effinger / September 30, 2014
Brian Armstrong and Fred Ehrsam certainly look like the kind of guys who could help bitcoin recover from its wild years.
They are tall and textbook fit, and as poised as Swiss bankers — Vulcan Swiss bankers. Armstrong, 31 and a former software engineer at Airbnb Inc., shaves his head. Ehrsam, 26 and a former foreign-exchange trader at Goldman Sachs Group Inc. (GS:US), keeps his hair short and very much in place. When they discuss bitcoin, they rarely smile. Do not try to make them laugh.
Their seriousness is understandable, Bloomberg Markets magazine will report in its November 2014 issue. Armstrong and Ehrsam are the founders of a startup called Coinbase Inc. (0776164D:US), whose mission is to convince everyone that bitcoin isn’t an Internet scam or a libertarian plot against the government or a digital version of goldbuggery, as various skeptics have it. Rather, it’s the best thing to happen to money since the Lydians started minting coins sometime in the seventh century B.C.
Asia remains the epicenter of the world’s economy, and that’s no different when it comes to interest in digital currency. DigitalTangible has launched their physical gold and Bitcoin trading services in Asia, thanks to their new partner Melotic.
Global customers of DigitalTangible Inc can now trade both their Bitcoin and their gold on the new Chinese Crypto-Gold trading platform. On Melotic’s commodity markets, users can trade the fine 1 oz. Pamp Suisse physical Gold bars, offered by DigitalTangible.
The key factors for DigitalTangible’s success are fast, transparent and secure control of their valuable hard assets, regardless of where you are in the world. Thanks to their patent-pending Proof of Custody global gold accounting ledger, DigitalTangible has been able to lower both investment and portfolio management costs.
I almost got hooked on the bitcoin gold rush, but my Spidey-sense eventually told me to walk away. Other than a few lost hours exploring the idea, and a few lost hours talking things over with my wife, I didn’t lose a penny. Others were apparently not nearly so lucky.
Bitcoin is a form of digital currency (yes, you could call it fake currency, but it’s traded for money, so there’s that). Although it has no physical existence (like gold does), it does have some value. Like any other currency, that value is derived based on a set of standards that everyone who trades in it agrees upon.
In bitcoin’s case, its algorithm is interesting. Each bitcoin comes to life once enough challenging CPU-intensive calculations have been made. Each bitcoin requires computational work to be expended in order to exist. This computational work is called “mining” because you have to grind and grind and grind processors to generate the numbers that become a bitcoin.
Of more interest, especially in our little scam story, is that as time goes on, each bitcoin is harder to make. What might take, say, five million CPU cycles to make the 900th bitcoin might take 50 million CPU cycles to make the 980th bitcoin.
In other words, every minute, the game gets harder to win.
coindesk.com / Pete Rizzo / October 1, 2014 at 00:32 BST
Coinapult has raised $775,000 in funding from a group of notable investors and investment firms, including Barry Silbert’s Bitcoin Opportunity Corp, angel investor Roger Ver and technology-focused VC firm FirstMark Capital.
The Panama-based bitcoin wallet service provider raised the capital through two rounds of funding, and aims to use the money for additional marketing and product improvements.
Speaking to CoinDesk, Coinapult CFO and COO Justin Blincoe indicated that the biggest benefit for his company will be the expertise of its now-solidified investor group, which he characterized as essential to his company’s success in an increasingly crowded bitcoin wallet market.
Robocoin wants Bitcoin users to become their own bank at some point, which is something a lot of Bitcoin enthusiasts are looking forward to. Given the current Bitcoin infrastructure, there is still a long way to go. Robocoin CEO Jordan Kelley hits the nail on the head :
“We were at the mercy of Bitcoin exchanges. If one of them went down, so did the user experience. But, launching a series of Bitcoin ATMs around the world has taught the company to trust no one.” Jordan Kelley – Robocoin CEO
Users are promised instant access to both Bitcoin and cash thanks to Robocoin’s international network which spans 45 kiosks. Instant access to Bitcoin is a tricky part, as a transaction requires an average time of 10 minutes to complete.
The Inside Bitcoins Conference series has seen much success with its previous events in Singapore, Hong Kong andLondon. Now, the next installment will be a three day event to be held in Las Vegas on October 5-7 at the Flamingo Hotel and Casino.
CoinTelegraph is proud to announce that it will be taking part as the official media sponsor of Inside Bitcoins Las Vegas.
Workshops will be held on October 5, with conference sessions and the exhibit hall on October 6-7.
Industry experts, business visionaries, and cryptocurrency veterans will convene to explore and discuss the first digital, decentralized, peer-to-peer based global currency. These thought leaders will also share their insights and knowledge on the implications of Bitcoin, along with predictions on what lies ahead.
cryptocoinsnews.com / Josiah Wilmoth / October 1, 2014 at 2:36 pm CET
Ziftr is an internet browser add-on that helps users find lower prices for items they want to purchase online. In November, Ziftr plans to expand their business model by launching their own altcoin,ziftrCOIN, and giving 100 coins to 1 million customers. Ziftr believes it can leverage its position to entice both shoppers and retailers to adopt ziftrCOIN.
CCN spoke with Chris Dunleavy, digital marketing strategist for Ziftr, about ziftrCOIN and Ziftr’s plan to make crypto-commerce mainstream.
Falk Benke (CTO) and Nikunj Handa (CEO) of BeamRemit.com. Image courtesy HumanIPO
Accra-based company that allows Africans to remit money, cheaply and instantly, Beam has revealed there is a huge demand for Bitcoins in Ghana.
Falk Benke, chief technology officer (CTO) of Beam told HumanIPO the demand is as a result of low level of sophistication in Ghana’s payment systems.
“For example, it is very difficult for locals to buy stuffs on Amazon, It is also really hard for someone in United Kingdom to pay a freelancer in Ghana. You need to have a bank account, do a bank transfer. You need to pay fees and it takes a long time. You may not be willing to go through the hassles. But with Bitcoin you can make transactions and payment on all the major platforms and transfer funds either directly with Bitcoins or they have an overlay that allows you to use Bitcoins,” Benke told HumanIPO.
As we are now aware the Republican Party of Louisiana, the LAGOP, is accepting cryptocurrency donations through their executive committee; yes, the LAGOP is using bitcoin. Bitcoin politics, the politics of bitcoin, now takes on a tangible, a clear and well defined presence as bitcoin technology enters into the industry of political campaign finance, a $4 billion dollar per year industry, an industry with year over year growth rates that rival any sector of the finance industry.
The LAGOP is technically the second, State level major US political party’s executive committee to accept bitcoin donations, the New York GOP being the first to do so. And interestingly, with Ben Lawsky and the NYDFS having crafted and published their ultra repressive BitLicense bitcoin regulatory intentions, the NYGOP accepting bitcoin might put them in a position to experience BitLicense first hand as it then effects their use, their politically oriented use of cryptocurrency most directly.
The primary difference between the acceptance of bitcoin by the LAGOP in contrast to the NYGOP’s accepting bitcoin donations on their websites is that the LAGOP has done so with some fanfare and concerted effort to publicize their move into the cryptocurrency space. The executive director of the LAGOP, Jason Doré, conducted an interview with Coindesk author Tanaya Macheel and provided a series of direct quotes in the article concerning the disposition of, and the outlook of the LAGOP with respect to cryptocurrency and bitcoin politics.
cryptocoinsnews.com / Evander Smart / October 1, 2014 at 2:40 pm CET
How many one-hit wonders do you remember? Van McCoy did “The Hustle” to the top in 1975. Tony Basil and “Mickey” were all the rage in 1982. Sir Mix-A-Lot made “Baby Got Back” a part of pop culture in 1992. Many seemed to have the world on a string, at least for 15 minutes of fame. Did complacency, greed, or personal demons destroy them? Usually, it is some, or all three, that turn talented acts into falling stars. In the digital currency community, Darkcoin may indeed be the first to fall into this paradigm.
Darkcoin seems so five years ago. Well, the Darkcoin team is back with an updated Darkcoin 2.0, and I thought I’d reach out to Core Developer Evan Duffield to see if they can end 2014 on the same trajectory with which they started it.
Darkcoin 2.0. Can Darkcoin get it’s mojo back?
If you don’t already know, Darkcoin was released in the first quarter of 2014, and it’s unique selling proposition as a digital currency was it’s enhanced privacy and security structure relative to the almighty Bitcoin. A minor-league detective can figure out the transaction origins made on Bitcoin’s Blockchain, and mine your privacy, in effect. Darkcoin aims to take your financial dealings into total darkness, with a security-centric design language.
The main advantage of using Darkcoin is their proprietary form of funds transfer called Darksend. How Darksend works is if you want to send funds to someone anonymously, your transaction is merged with another similar transaction, like shuffling a deck of cards. The recipient gets the amount of Darkcoins promised, but the nature of the actual transfer prevents tracking of the funds from Point A to Point B.
Privacy-centered digital currency Darkcoin (DRK) is now a fully open-source cryptocurrency as it unveils its source code and moves out of the beta stages of development.
Last Monday, Darkcoin‘ s developers released its latest version called RC5. Following this release, the developers believed their software was ready for mainstream use and decided to open the source code of its key technology, Darksend, according to a press release. Just as Bitcoin, developers can now build upon Darkcoin’s source code.
Introduced in January 2014, Darkcoin is a privacy-centered P2P cryptocurrency, initially developed as a closed-source technology.
"At any rate, the spook spoke the truth: cryptology represents the future of privacy, and more. By implication cryptology also represents the future of money, and the future of banking and finance. (By "money" I mean the medium of exchange, the institutional mechanisms for making transactions, whether by cash, check, debit card or other electronic transfer.) Given the choice between intersecting with a monetary system that leaves a detailed electronic trail of all one's financial activities, and a parallel system that ensures anonymity and privacy, people will opt for the latter. Moreover, they will demand the latter, because the current monetary system is being turned into the principal instrument of surveillance and control by tyrannical elements in Western governments." - J. Orlin Grabbe