Crypto-Currencies Will Destroy The Criminal Bankster's Monopoly On Money
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cointelegraph.com / Allen Scott / 2015-07-01 11:41 AM
CoinTelegraph spoke with Thanos Marinos, the founder of Greece’s only Bitcoin exchange, about the current debt crisis and Bitcoin’s surge in popularity in Greece and across the EU.
Thanos Marinos is the founder of BTCGreece, the country’s only Bitcoin exchange dedicated to Greek clients. Due to the current capital controls imposed in the country, BTCGreece is the only place, besides the single Bitcoin ATM in Athens, where Greeks can buy bitcoins at the moment.
“The demand [for Bitcoin] in the last 4 weeks has risen by 400%.”
– Thanos Marinos, BTCGreece Founder
CoinTelegraph: Can you tell me about BTCGreece?
Thanos Marinos: We are the only exchange operating in Greece at the moment as the Greek banks are under capital controls. They cannot send money outside Greece and we hold a Greek bank account.
CT: Have you seen a huge spike in interest towards Bitcoin in the last few weeks?
TM: Yes, the demand in the last 4 weeks has risen by 400% and the number of newly registered customers by 600%.
CT: Can you describe what the situation is like on the ground in Greece?
TM: People are in shock as they never expected to have closed banks and at the same time risking being out of Eurozone and euro currency soon.
Public order is still in place but things are expected to become worse as soon as we move towards the referendum scheduled for Sunday. There are increasing voices that the government should withdraw the referendum.
“Don’t be surprised if the Greek government pulls out from the referendum and cancels it as a goodwill gesture towards the creditors.”
newsbtc.com / By Samuel Rae / Jun 30, 2015 12:00PM UTC
In late September of 2014, Due to an across the board reduction in force, Staff Sergeant Elliot Hedman, after more than 13 years of service, was no longer an active duty member of the United States Air Force. Now as the Founder and CEO of The ReXistance, he once again rises to the challenge, introducing CoinRaQ and XI token representing innovation, creativity and vision within the crypto community.
The challenge coin, a physical token, is an integral part of team building, esprit de’ corps, and organizational identity. It tells a story, It signifies the mission, the vision, and the core ideology of an organization or individual. It symbolizes unity, loyalty, and is a source of pride for all those who carry it. Without words, the challenge coin relates to where you have been, what you have accomplished, and with whom you have come to know and always remember. These coins are the embodiment of mutual respect and are signs of continuing solidarity.
Steve Jobs took all of your music and put it in your pocket, CoinRaQ does the same with your challenge coins. CoinRaQ is designed to take the ordinary challenge coin, couple it with amazing new technology, and then provide its users with a truly revolutionary physical and digital experience.
Imagine having all of your history, all of your memories, and all of your challenge coins available for presentation anywhere and at any time.
The CoinRaQ application is built to support individual and organizational challenge coin creation, customization, production, sale and distribution. It also functions as a search-able catalog and coin database, complete with digital representations of every physical coin created with individual and organizational global leader boards.
Bitcoin is just the start of what our Bitcoin ATM kiosk will be delivering. Bitcoin ATMs will grow to include the sale of all manors of digital currencies, tokens, and goods. Even remittance tokens and gift certificates will eventually be sold on your average BTM. In this video, shot from Fort Lauderdale’s Wilton Manors, I discuss BTMs, Bitcoin, and all things Counterparty.
insidebitcoins.com / By Bitcoinist.net / Jun 29, 2015 5:00 PM EDT
The world of Bitcoin and digital currency is a playground for aspiring developers, as there are still many technological advancements and implementations waiting to be unlocked. In order to help with that process, there are several API’s at your disposal to add Bitcoin functionalities to your applications. One of those platforms is BlockTrail, and they offer a complete set of tools to take your app to the next level.
BlockTrail: Blockchain Data, Wallet, Web Wallet and Webhooks
Creating a foundation for the infrastructure you wish to employ in your application is something BlockTrailprides itelf on. Rather than letting developers figure out the necessary steps on their own, BlockTrail wants to encourage the Bitcoin economy by offering a selection of secure and reliable tools to help you on your way.
One of the concerns most developers have when it comes to Bitcoin is the fact there is a steep learning curve in order to understand the full effect of the underlying technology. And while that statement holds a lot of merit, BlockTrail aims to remove the entry barriers for aspiring developers so that Bitcoin can grow in all aspects of everyday life.
On June 27th, 2014, Adam and his core team launched a new Counterparty asset called LTBcoin. On the coin’s one-year anniversary, I caught up with Adam for a quick Q&A.
Tuomas: Adam, congrats on the anniversary! What is your overall sentiment about LTBcoin, one year after?
Adam: I’m happy to be at this milestone! Launching LTBcoin last year was a difficult but the right decision because it forced us to build tools and solve problems that were largely hypothetical before the launch of the rewards program. It took time, but now that we’ve got software solutions to handle most of the early issues we ran into. Things are going to get interesting.
T: What have you learned about the process of creating an asset and then creating an ecosystem around it, from ground up?
A: I learned that creating an asset is the easy part and giving it value is a far more complex problem. Until now we haven’t been able to even do simple sales of one token for another, or to be able to redeem a token easily, so now that those tools are becoming available I think we’ll see projects that come along in the future having a much easier time getting started.
T: The majority of altcoins and appcoins go through a few “pump and dump” cycles before eventually disappearing altogether. What do you see being the main reason for LTBcoin’s persistence?
A: Because there’s never been a pump. We’ve steadfastly refused to interfere with the price of LTBcoin on the market in any way, so when the price has been weak, it’s been real weakness because we lacked utility, and now that we’re gaining utility in what I hope will be large amounts, I expect to see the price be real when it reflects that new reality.
cointelegraph.com / Charlie Richards / 2015-06-29 06:24 PM
The overnight implementation of capital controls in Greece, as the government looks set to default on its IMF loan repayment, has led citizens to explore other methods for moving their savings out of the country.
The Greek government announced on June 28 that banks in the Mediterranean country would remain closed for the next week. The government also imposed capital controls to prevent the flight of money internationally. Let’s look at some of the ways Greeks may be able to exchange their funds for bitcoin, before the expected default on the repayment of the IMF loan on June 30.
The BBC news service explains what these capital controls mean for those trying to live day-to-day in Greece, including a 60 euro limit on daily ATM withdrawals, and a ban on overseas money transfer, except for important business transactions. The BBC defined these as follows:
A maximum of €60 (£42; $66) can be withdrawn from an account in one day
Overseas transfers of cash prohibited, except for vital, pre-approved commercial transactions.
Additional unconfirmed reports suggest that up 40% of Greek ATMs may already have been emptied of their supply of euros by concerned savers, leaving those in smaller towns and villages without a method to withdraw cash.
cryptocoinsnews.com / BY ELLIOT MARAS / 29/06/2015
Primedice, an online gaming site, learned a hard lesson when it lost $1 million in bitcoin to a hacker that exploited its RNG (random number generation) system last year. The company recently shared its experience on Medium, a website where people share stories. Stunna, the author of the story said the company wanted to share its experience so that others can learn from it.
Primedice has also invited readers for help in recovering its losses and promises rewards for helpful leads.
Unusual Patterns Emerged
In August of 2014, Primedice released its third version after one week of closed beta testing. Shortly after launching, the team noticed unusual patterns from two players; one automatically cashed out while the other won bets. The team found the patterns unusual but could find no wrong doing.
A month later, after a delayed cashout, the winning player created a new account that placed the largest bets Primedice had ever seen. This bettor, “Hufflepuff,” was betting upwards of $8,000 in bitcoin every second for hours.
coindesk.com / Pete Rizzo / June 29, 2015 at 17:20 BST
Kraken has officially launched in Canada following a partnership with digital currency industry-focused risk management specialist Vogogo.
The San Francisco-based bitcoin exchange now allows users in Canada to convert Canadian dollars into digital currencies using Interac e-Transfer and electronic fund transfers (EFT). Trading fees are then priced between 0.10% and 0.35%, with more active traders receiving more attractive rates.
newsbtc.com / Gola Yashu / Jun 30, 2015 1:00PM UTC
Australia’s second-largest bank Westpac has directed its venture capital fund, Reinventure Group, to invest in Coinbase, a San Fransisco-based Bitcoin startup.
It is believed that the aforementioned vertical has joined the Coinbase’s $75 million funding round, the same which received support from some of the biggest financial sharks, including New York Stock Exchange (NYSE) and Citigroup’s former CEO Vikram Pandit. In the latest Series C funding, Reinventure Group was joined by renowned venture capitalists like Draper Fisher Jurvetson, Andreessen Horowitz, Robbot Capital and Union Square Ventures.
The companies however shied away from mentioning the amounts that were invested in the Series C round.
Experimenting with Bitcoin
Reinventure Group now plans to interconnect Coinbase services with Westpac to derive out a feasible solution to conduct cheaper global transactions, confirmed one of its representatives. In his statement to Financial Review, the said representative further acknowledged Coinbase for being serious about implanting next-generation security technologies on its platform and said:
insidebitcoins.com / By Bitcoinist.net / Jun 29, 2015 6:08 PM EDT
Many entrepreneurs from all over the world are keeping a close eye on Bitcoin and blockchain technology. Ever since Bitcoin started gaining popularity in 2011, quite a few entrepreneurs have dabbled in digital currency companies, not always knowing what they were getting themselves into. SmartUp is an application that virtually mentors entrepreneurs, which could be beneficial for all investment areas, including Bitcoin.
Mentoring Entrepreneurs With SmartUp
The Internet has opened the floodgates for anyone with a small or large amount of money to become an entrepreneur, regardless of any previous experience in the field. All you need is a great idea, the passion for executing that idea and a desire to keep improving. Or that’s how it goes in theory anyway, as entrepreneurship is vastly underestimated.
But there is one thing plaguing entrepreneurship all over the world, and that is the abysmal access to mentorship. A person does not become a successful entrepreneur overnight, even though there are a few cases where exactly that happened. Most aspiring entrepreneurs need proper mentorship to achieve their goals, and not just dive head-long into the first opportunity they see.
cointelegraph.com / Alyssa Hertig / 2015-06-30 11:17 AM
Blockchains without bitcoin? The idea has been swirling around in bitcoin conversations as of late. At the front of the conversation is blockchain consultant Tim Swanson who often injects skepticism into the space. He explained some of the details of permissioned blockchains and how that would work in last week’s Epicenter Bitcoin, a podcast dedicated to cryptocurrency developments.
“He’s been making people very angry on Reddit,” said Epicenter host Brian Fabian Crain when introducing his guest. And, true to this description, Swanson’s name topped the subreddit Sunday in a stab at his take on the blockchain.
cryptocoinsnews.com / BY JUSTIN OCONNELL / 30/06/2015
Adam Soltys runs Yummy Yards, which is an urban farm located in Vancouver and Richmond specializing in organic food. Yummy Yards grows a variety of organic produce and runs as a cooperative, with generations of growers passing it from one to the next. What does Soltys believe Bitcoin and cooperatives have in common? “They’re run voluntarily and democratically,” he told CCN.
He gave himself a moniker once: “techno hippie.” When I asked him why, he didn’t hesitate to elucidate: “I chose techno hippy because I’m into environmentalism, yoga, eastern/newage spirituality, music festivals, psychedelic drugs, tuning in, dropping out, ecotopia and the back-to-land movement and various other things associated with the counterculture of the 60’s,” he told CCN. “On the other hand I’m also really interested in the promise of technology and things like open source software, meshnets, encryption, cypherpunk, etc. to get humanity out of the mess we’re creating for ourselves and the planet.”
For the last few months, he’s been focused on Yummy Yards, an urban farming operation where his partner Chelsea and him are committed to growing vegetables for twenty weekly veggie box subscribers and two market days per week. The Bitcoin Co-op and CoinOS are two other projects that Soltys started that he’ll take up again once the farming season comes to a close in the winter. The co-op is an open membership organization for people interested in Bitcoin and CoinOS is an open source Bitcoin point-of-sale app that merchants can use to take payments. The cooperative grew out of the desire to start a Bitcoin business.
coindesk.com / Pete Rizzo / June 30, 2015 at 14:01 BST
BitGo has announced a new service that leverages the security firm’s status as a consigner on its multisig accounts to allow customers the means to provide greater financial transparency.
As part of the announcement, bitcoin firm ChangeTip will use the new Verified by BitGo service to demonstrate its account holdings. The tipping platform will display its bitcoin solvency on its website, listing assets and liabilities in real-time along with information specific to individual users.
Links to the Verified by BitGo page will also be displayed within each user’s ChangeTip account page and on the website’s home page when users aren’t logged in to the service.
newsbtc.com / By Sarah Jenn / Jun 30, 2015 12:00PM UTC
Primedice, one of the biggest bitcoin gambling sites, has suffered a loss of $1 million when one of its members figured out a way to game the system. The user went under the name “Hufflepuff” and was able to device a method to hack the dice roll game that allows people to win bitcoin.
According to the company’s CEO, they are offering rewards to anyone with information that can help them recover the lost money. The company had actually been able to figure out that “Hufflepuff” has been gaming the system but the user declined to return the funds.
Bitcoin Gambling Game
Primedice’s system operates by having the random numbers generated through the use of two seeds, a server seed and the client seed. Users can change and verify seeds used by clicking the “Rerandomize” tab and before the user specifies their own seed, they are shown the SHA256 hash of the server seed that will be used alongside whichever seed they pick.
insidebitcoins.com / By Bitcoinist.net / Jun 29, 2015 1:00 PM EDT
Recently, Wall Street companies have become increasingly interested in Bitcoin’s technology. One of these companies is Nasdaq OMX Group Inc.; this week Nasdaw announced a partnership with Cain — a new San Francisco-based startup — for a “Pilot Test Program” to test trading private company shares with the blockchain.
”We are excited about the potential impact of this new endeavor with Chain on the transaction process. As Blockchain technology continues to redefine not only how the exchange sector operates, but the global financial economy as a whole, Nasdaq aims to be at the center of this watershed development.This Nasdaq Private Market project aims to simplify the overwhelming challenges private companies face with manual ledger record-keeping. As blockchain technology continues to redefine not only how the exchange sector operates, but the global financial economy as a whole, Nasdaq aims to be at the center of this watershed development.”
Revolutionary progress doesn’t happen without lots of work and in the case of Bitcoin that requires many different startups building technology. Few have contributed to this as much as Silicon Valley based startup accelerator Boost VC, which has been focusing on Bitcoin and cryptocurrency startups since 2013. Focusing exclusively on Bitcoin for an extended time, they’ve invested in companies such as Blockcypher, Coinprism, Coinjar, Mirror, Snapcard, Zapchain and many others.
Boost VC Founder Adam Draper joined us to discuss running an accelerator, their investment thesis and why they’ve chosen to add Virtual / Augmented Reality startups to the program
Russia’s ruble has been on a roller-coaster ride, facing the second biggest drop in value of global currencies in 2014, then bouncing back this year with the highest rise against the dollar, euro, pound and yen.
Even tech giant Apple took time off from online sales in Russia due to “extreme” ruble fluctuations in December, when the currency tumbled 19% in a day due to a sell-off by nervous investors in Moscow.
The recent stabilization of the ruble at about 50 to the dollar has drained not only the country’s currency reserves, but also the sentiment of Russian consumers and businesses: Inflation remains at more than 16% and unemployment stands at 5.6%.
Russia’s middle class and the working poor are the ones paying the price for the economic downturn. An average 10% drop in real income last year and a jump in mortgage defaults and rising food and utility prices have made it difficult, to say the least, for people to make ends meet.
In the midst of this fragility, Mikhail Shlyapnikov, a farmer in the isolated Russian village of Kolionovo believes the answer to the woes of the cash-strapped Russian rural population is “kolions.”
What Are Kolions?
Kolions are an alternative currency for Russian farmers to use instead of cash to make it easier to settle rural trades.
Shlyapnikov claimed the idea came to him easily. Frequent barter trade with friends made him realize that a commodity such as a goose or potatoes would be a more inflation proof and make an easier form of conducting trade than the ruble.
cryptocoinsnews.com / BY VENZEN KHAOSAN / 30/06/2015
Bitcoin Price has been advancing persistently and hit $260 / 1620 CNY during today’s Asia-Pacific trading session. xbt.social analysis considers what lies ahead.
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 discount using the code CCN29.
Bitcoin Price Analysis
Time of analysis: 04h59 UTC
Bitstamp 1-Hour Chart
From the analysis pages of xbt.social, earlier today:
The advance is approaching target at $261 and 1621 CNY.
Price has pushed relentlessly through resistance and into compounding divergence to the upside. The advance is now approaching the 1-day 100MA’s 10% envelope at $261 and 1621 CNY and we should see a reaction at this level.
"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