technology

Forget premiums: A peer-to-peer network will cover you

"An online insurance firm called Peercover lets groups of people insure each other on their own terms and at a fraction of the cost. Insurance is the latest financial service to get a shake-up from peer-to-peer (P2P) dynamics. Already, individuals can lend money for a return with interest. Similarly, people wanting to exchange currency can avoid banks and instead use P2P services to find other people looking to make the opposite trade. 'The changes in financial services that are happening now are happening more quickly and dramatically than anything we've seen over the last 100 years,' says Ron Suber of peer-to-peer loan company Prosper. 'Peercover is a great example.'" Continue reading →

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BitScan’s exclusive Q&A with Roger Ver

"If you look at bitcoin, it has all those same characteristics of gold in terms of it being easily recognizable, easily divisible and similarly, they both have a limited supply and can’t just be made out of thin air. Where bitcoin differs from gold is that it is easily transportable. You can send bitcoins anywhere on the planet instantly basically for free. It is incredibly expensive to ship gold around the world and if you do, you have to trust the shipping company or the delivery company, with bitcoin you don’t have to trust anybody at all. All you do, is send the bitcoins and they have been sent. So bitcoin has gold’s valuable characteristics as money but it is also transportable." Continue reading →

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The biggest Bitcoin win in gambling history

"In just one weekend of furious gambling, a single Internet high roller has taken home close to 11,000 bitcoins—or about $1.3 million. The man, known online as Nakowa, has turned one of Bitcoin’s most popular and profitable casinos into a loser. What no one can figure out: Is he a cheater, a genius, or the luckiest man on earth? Just-Dice.com, a European-based cybercasino offering a set of dice games played for the highly valuable digital currency Bitcoin, has been on a roller coaster ride. Nakowa’s weekend started on a losing streak that made Just-Dice richer than it had ever been, causing the site to hit its highest single profit point of all time (7,000 bitcoins or $862,400 on hand)." Continue reading →

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‘Technical glitch’ brings down Iranian censorship firewall temporarily

"A technical glitch allowed some Iranians temporary access to banned social networking websites Facebook and Twitter, an Iranian Internet official said on Tuesday. Surprised Internet users in Iran Monday night were able to log onto their accounts without using illegal software that enables them to circumvent a widespread state-run filtering mechanism. They voiced their delight online, with posts revelling in the rare web freedom — restricted in 2009 when social networking sites enabled protesters to organise anti-government demonstrations in the aftermath of a disputed presidential election." Continue reading →

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The Sharing Economy Fights Back Against Regulators

"What started with a few enterprising individuals willing to let complete strangers sleep in their homes and use their possessions has now developed into a formidable economic force that threatens to upend several different industries. Along the way, it has posed some major legal challenges. The companies that are pushing it forward have continually undermined local ordinances, consumer safeguards, and protectionist regulations alike. As a result, governments around the country are trying to rein them in. That’s where Silicon Valley’s newest advocacy group comes in. Peers is a self-described 'grassroots organization' that launched to 'mainstream, protect, and grow the sharing economy.'" Continue reading →

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Atlantis: Online Drug Black Market Shuts Its Doors

"One of the sites that was more or less a copy of The Silk Road and the second largest online black market, The Atlantis Market, was forced to shut their doors for good due to 'security' reasons. Atlantis offered black market, anonymous items, in exchange for Bitcoin and Litecoin. Users will have one week to withdraw any of their funds before the market shuts down permanently. Below is a statement from the Atlantis team." Continue reading →

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BitPagos Uses Merchant Processing To Bring Bitcoin To Argentina

"Argentina’s currency troubles have been well documented for years. With inflation between 10 and 11% per year for most of the past decade, Argentinians have actively looked to subvert the country’s strict capital controls and obtain alternative stores of value. Historically, that has meant underground dealing in USD and EUR, but more recently has led to interest in the largely-unregulated world of bitcoin. BitPagos, a Latin American payment processing company in the latest class of the Boost.vc Accelerator, is capitalizing on that interest by adding bitcoin to their processing options." Continue reading →

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Video game pioneer & former Nintendo head Hiroshi Yamauchi dies at 85

"He was known as 'the godfather of the console', building the Japanese firm Nintendo from a playing cards manufacturer into one of the world’s most powerful computer games businesses. Now the gaming industry is paying tribute to the company’s former president, Hiroshi Yamauchi, who died on Thursday at 85. For a generation of gamers, Yamauchi’s Nintendo represented a golden era of mainstream gaming, dominated by classic titles like Super Mario Bros, Legend of Zelda and Metroid. A 1990 survey found the company’s mascot Mario, a moustachioed Italian plumber, was more recognisable to American children than Mickey Mouse." Continue reading →

Continue ReadingVideo game pioneer & former Nintendo head Hiroshi Yamauchi dies at 85

Grand Theft Auto V sales zoom past $1 billion mark in 3 days

"Grand Theft Auto V has crossed the $1 billion sales mark after three days in stores, a rate faster than any other video game, film or other entertainment product has ever managed, its creator Take Two Interactive Inc said on Friday. The latest installment of GTA, a cultural phenomenon that has sparked a national debate on adult content and violence, received strong reviews and racked up $800 million in first-day sales alone. That marked a launch-day record for the Grand Theft Auto franchise which is Take Two's most lucrative and allows players to cruise around a make-believe gameworld based on real-life locations such as Los Angeles." Continue reading →

Continue ReadingGrand Theft Auto V sales zoom past $1 billion mark in 3 days