Bitcoin

Jeffrey Tucker: Is Bitcoin Real or Not?

"Certainly government can regulate exchange between government currencies and Bitcoin. It can also regulate income in Bitcoin the same as with other currency. This is not some tax-free nirvana in the making. The government can also oversee contractual regulations and securities activities in Bitcoin. However, Bitcoin itself is a peer-to-peer system of cryptographically guarded exchange, and it lives on a distributed server model. It is not a company. It is not a stock. It is not a product. It is a ledger that no one in particular runs or owns. It is not possible for Bitcoin as such to be destroyed any more than government can destroy algebra." Continue reading →

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Bitcoin upgrade aims for smoother e-commerce

"Payment requests will use digital certificates, the same kind of security technology indicated by a padlock in a web browser. Specifically, the payment requests will use X.509 certificates, which underpin SSL (Secure Sockets Layer), which encrypts data traffic between two parties. The communication between a customer and company will be performed over SSL and will not be part of the so-called 'blockchain,' the public ledger that shows bitcoin transactions, Andresen said. The payment protocol will not touch the core code that drives Bitcoin's network." Continue reading →

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Poolfa.com: Evidence of an Expanding Iranian Bitcoin Community

"As Bitcoin has proven to be an asset to Iranians whose rial is suffering from high inflation and an oppressive government, it will be interesting to see how successful additional alternative cryptocurrencies fare in the Islamic Republic of Iran. Through serving the Iranian people as a news blog, forum, wiki page, pool for mining, exchange and translation service, Poolfa is in turn contributing to the Bitcoin community as a whole. With an expanded and empowered user base, Bitcoin will continue to grow in prominence in Iran, the Middle East, and the rest of the world." Continue reading →

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BitPay Partners with 3dcart, Giving 16,000 Online Merchants the Ability to Accept Bitcoin

"In a strategic move that could more than double the number of bitcoin merchants on its roster, BitPay has announced a partnership with 3dcart, a well-established eCommerce platform for online store owners. The partnership gives some major online merchants – including Bubba Gump Shrimp, Coffee Bean & Tea Leaf, and The New York Times – the option (not obligation) to enable bitcoin payments directly through 3dcart back-end tools. BitPay gives merchants the option to accept bitcoin payments and instantly convert all, some, or none of the bitcoins into a bank deposit that clears in one business day." Continue reading →

Continue ReadingBitPay Partners with 3dcart, Giving 16,000 Online Merchants the Ability to Accept Bitcoin

Coinlab to incubate Bitcoin startups

"Venture-backed Bitcoin exchange CoinLab has announced it will start to incubate new Bitcoin businesses, starting with enterprise-scale mining company Alydian. CoinLab won't be providing any capital or mentoring to existing businesses. Instead it will come up with new ideas for businesses internally, and recruit external management talent to develop the ideas. The first portfolio company CoinLab is launching is Alydian, which is the first company to offer 'multi-terahash-speed' mining systems. CoinLab has recruited former Pixelworks CEO Hans Olsen to head up the business." Continue reading →

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Federal judge: Bitcoin, “a currency,” can be regulated under American law

"In the case of a Texas man accused of massive Bitcoin-based fraud, a federal judge has ruled that bitcoins are 'a currency or form of money,' and are therefore subject to relevant US laws. The case revolves around Bitcoin Savings and Trust (BTCST), a virtual Bitcoin-based hedge fund that many suspected of being a scam. BTCST shut down in August 2012, and the Securities and Exchange Commission (SEC) last month formally charged founder Trendon Shavers with running a Ponzi scheme." Continue reading →

Continue ReadingFederal judge: Bitcoin, “a currency,” can be regulated under American law

Is Bitcoin Too Big for Government to Ignore?

"Forty-eight states require businesses to register as money service transmitters, which Brito said can be an onerous and expensive process. Bitcoin startup BTC Global estimates that $10 million or more is required for a business to reach total legal compliance in all 50 states. The Wall Street Journal reported in June that Texas and New York are among the states taking a hard look at regulations for virtual currencies as well as money transmission rules.The Journal said state regulations can be expensive, citing Texas’ policy requiring companies seeking a license to provide a surety bond of as much as $2 million." Continue reading →

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Bitcoin is crucial for the future of free speech, say experts

"First Amendment rights to free speech would make it a tough legal battle to prosecute WikiLeaks legally. However, government officials were able to target financial organizations such as Visa and PayPal, getting them to stop processing donations for the site. Timm also highlighted the importance that technologies like Bitmessage – the anonymous, encrypted messaging service built on the Bitcoin protocol – have in maintaining a free press. It eliminates the need for a third-party arbitrator when sending messages, enabling a zero-trust messaging system. It also hides the metadata surrounding such conversations, he added." Continue reading →

Continue ReadingBitcoin is crucial for the future of free speech, say experts

Send Micro-Transactions With Zero Fees via Coinbase

"We launched an exciting feature today: off blockchain micro-transactions between Coinbase accounts! Here is a bitcoin transaction I just sent myself for 1 satoshi (that is 0.00000001 Bitcoin). The transaction arrived instantly, confirmed instantly, and cost zero in fees. This was possible because it did not touch the 'blockchain' (the public ledger of all bitcoin transactions), and instead was sent directly between two Coinbase accounts." Continue reading →

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New Silver Liberty Dollar QR Coin Obtains Live Bitcoin Prices

"Vaughn Perling had the courage to issue The New Liberty Dollar with a strikingly similar appearance to that of the NORFED Liberty Dollar while von NotHaus was awaiting sentencing on counterfeiting and fraud charges. However, Vaughn Perling added a disclaimer to his website that the purchaser acknowledges that The New Liberty Dollar is a 'silver piece medallion, and not any government issued coin.' The new QR engraved medallions enable a user of the coin to obtain real-time 'manufacturer’s suggested trade value' which is based on the silver spot market price. The price will be in Bitcoin as well as other crypto and national currencies." Continue reading →

Continue ReadingNew Silver Liberty Dollar QR Coin Obtains Live Bitcoin Prices