BitcoinSavers.com : Bitcoin news and Domain names for sale

Providing Bitcoin-related news and Bitcoin domains for sale.

Please go to Buy This Domain to purchase these domain names:

BitcoinDeal.com, BitcoinCommerce.com, BitcoinGuns.com, BitcoinRetail.com, BitcoinRetailers.com, BitcoinSale.com, BitcoinSales.com, BitcoinTicket.com, BitcoinSellers.com, BinaryCoin.com, Bitcoin8.com, Bitcoin9.com, Bitcoinate.com, Bitcoing.com, Bitcoinize.com, Bitcoink.com, BitcoinU.com, Bitcoin4U.com, BitcoinUs.com, MegaBitcoin.com, OrBitcoin.com, Podcoin.com, CuBitcoin.com, Ramcoin.com, Pubcoin.com, Simcoin.com, TiBitcoin.com, Bitcoint.com, GigaBitcoin.com, SuperBitcoin.com, WeBitcoin.com, Bitcoin2Gold.com, Bitcoin2Silver.com, Bitcoin4Silver.com, silver2Bitcoin.com, silver4Bitcoin.com, silverBitcoin.com, BitcoinAccount.com, BitcoinAudit.com, BitcoinAuditor.com, BitcoinAudits.com, BitcoinBug.com, BitcoinBuyers.com, BitcoinCharge.com, BitcoinCheap.com, BitcoinClear.com, BitcoinCents.com, BitcoinDealers.com, BitcoinDimes.com, BitcoinHaven.com, BitcoinHedge.com, BitcoinLenders.com, BitcoinPip.com, BitcoinPledge.com, BitcoinRates.com, BitcoinSave.com, BitcoinSavers.com, BitcoinSavings.com, BitcoinSell.com, BitcoinSpread.com, BitcoinSwaps.com, BitcoinTicker.com, BitcoinTrend.com, BitcoinTrends.com, BitcoinWire.com, btcBanking.com, btcFund.com, btcTrades.com, cashBitcoin.com, CheapBitcoin.com, CheapBitcoins.com, clearBitcoin.com, deBitcoin.com, escrowBitcoin.com, escrowcoin.com, forexBitcoin.com, gold2Bitcoin.com, sendBitcoin.com, Bitcoinsure.com, Bitcoins4free.com, BitcoinBot.com, BitcoinBots.com, BitcoIntel.com, BitcoinCoder.com, BitcoinCoders.com, BitcoinDesk.com, BitcoinDev.com, BitcoinDns.com, BitcoinEmail.com, Bitcoinet.com, BitcoinHack.com, BitcoinHacks.com, BitcoinKeys.com, BitcoinLib.com, BitcoinLog.com, BitcoinLogin.com, BitcoinLogs.com, BitcoinPlugin.com, BitcoinServer.com, BitcoinSniffer.com, BitcoinTool.com, BitcoinTools.com, BitcoinAssist.com, BitcoinBackup.com, BitcoinCop.com, BitcoinCrypt.com, BitcoinConnect.com, BitcoinDonate.com, BitcoinDrop.com, BitcoinExperts.com, BitcoInform.com, BitcoinGuard.com, Bitcoinnect.com, BitcoinValet.com, BitcoinPolice.com, BitcoinCorp.com, BitcoinLaw.com, BitcoinMaker.com, BitcoinPad.com, BitcoinSearch.com, BitcoinService.com, BitcoinSpy.com, BitcoinStealth.com, BitcoinStorage.com, BitcoinStudy.com, BitcoinTest.com, remoteBitcoin.com, saferBitcoin.com, safercoin.com, fastBitcoin.com, BitcoinTrace.com, BitcoinTrack.com, quickBitcoin.com, simpleBitcoin.com, work4Bitcoin.com, Bitcointer.com, Bitcoinote.com, BitcoinLock.com, SatoshiNakamoto.com, BitcoinBlocks.com, BitcoinMill.com, Bitcoinomics.com, Bitcoinomy.com, Bitcoinism.com, Bitcoinist.com, BitcoinBetters.com, BitcoinUp.com, BingoBitcoin.com, BitcoinBidding.com, BitcoinBooker.com, BitcoinBookie.com, BitcoinBookies.com, BitcoinBookmaker.com, BitcoinCasinos.com, BitcoinGambler.com, BitcoinGamblers.com, BitcoinHall.com, BitcoinJoker.com, BitcoinLand.com, BitcoinPlace.com, BitcoinPlay.com, BitcoinPlayer.com, BitcoinPlayers.com, BitcoinPlays.com, BitcoinPrize.com, BitcoinWager.com, BitcoinWin.com, casinoBitcoin.com, BitcoinCity.com, pokerBitcoin.com, winBitcoins.com, BitcoinBrothel.com, BitcoinElite.com, BitcoinGirl.com, BitcoinGirls.com, BitcoinLadies.com, BitcoinVIP.com, BitcoinWomen.com, escortBitcoin.com, escortsBitcoin.com, MissBitcoin.com, BitcoinBook.com, BitcoinFan.com, BitcoinMag.com, BitcoinStudio.com, BitcoinMovie.com, BitcoinArmy.com, BitcoinChurch.com, BitcoinDown.com, BitcoinLight.com, BitcoinParties.com, BitcoinWars.com, BitcoinWave.com, HexCoin.com,

What is Bitcoin?

Bitcoin is a digital crypto-currency with no single point of failure due to its decentralized peer-to-peer architecture. The source code is publicly available and changes to the reference Bitcoin client are made via concensus within the community. Advantages of Bitcoin include irreversible transactions (i.e. no possibility of chargebacks as with credit cards), pseudo-anonymous, limited and fixed inflation, near instant transactions, multi-platform, no double-spend and little to no barriers to entry and more. It was created by an anonymous person known as Satoshi Nakamoto. Find out more at WeUseCoins.com.

Bitcoin Latest News

Alleged Bitcoin Fraud 'Mastermind' Sought by US Held in Greek Prison - U.S. News & World Report


U.S. News & World Report

Alleged Bitcoin Fraud 'Mastermind' Sought by US Held in Greek Prison
U.S. News & World Report
Vinnik, justice officials alleged, committed crimes which went beyond the lack of regulation of the bitcoin exchange he operated. They have alleged Vinnik and his firm received more than $4 billion in bitcoin, and that BTC-e 'obtained' funds from Mt ...
Bitcoin: Trust in the Land of DistrustInvestorplace.com
'He used his real name online': Bitcoin security expert on $4bn laundering scheme suspectRT
Russian Operator of Bitcoin Exchange Charged with Money LaunderingDark Reading
Sky News Australia -DailyFX -Economic Calendar
all 23 news articles »

Posted on 28 July 2017 | 9:03 am

Bitcoin prices rise as Ether extends recent weakness - MarketWatch


MarketWatch

Bitcoin prices rise as Ether extends recent weakness
MarketWatch
The price of digital currency bitcoin rose Friday, putting it on track for a modest weekly gain, while rival currency Ether extended its recent weakness. At latest check, a single bitcoin BTCUSD, +2.61% was up 2.7% to $2,771.45, according to ...
Bitcoin and Ethereum Price Forecast – Ethereum Prices Coiling UpFX Empire

all 6 news articles »

Posted on 28 July 2017 | 8:29 am

Cryptocurrency ICOs Are Making Bitcoin Startups Richer than VCs Ever Did - Fortune


Fortune

Cryptocurrency ICOs Are Making Bitcoin Startups Richer than VCs Ever Did
Fortune
ICOs have now raised nearly four times as much money as bitcoin companies raised in venture capital dollars so far this year. That's according to PitchBook, which tallied up the latest numbers: ICOs have raised almost $1.3 billion in 2017 so far, while ...
New framework unveiled in China for Bitcoin, blockchain technologyBusiness Insider

all 62 news articles »

Posted on 28 July 2017 | 8:20 am

Why Are Miners Involved in Bitcoin Code Changes Anyway?

How can miners block bitcoin changes? CoinDesk takes a look at how the network upgrades and the role these parties play.

Source

Posted on 28 July 2017 | 8:05 am

Bitcoin Price Reacts to SegWit News - CoinTelegraph


CoinTelegraph

Bitcoin Price Reacts to SegWit News
CoinTelegraph
The protocol will be fixed, if at least 95% of the blocks - 1916 out of 2016 - signal at this stage in support of SegWit. In turn, this will provide the conditions for activating the scaling BIP 141 offer. Proposal Activation Spotlight. The lock-in ...

and more »

Posted on 28 July 2017 | 8:02 am

Bitcoin Inches Above $2800 to Hit 5-Day High - CoinDesk


CoinDesk

Bitcoin Inches Above $2800 to Hit 5-Day High
CoinDesk
The price of bitcoin across global exchanges hit $2,833 today, the highest figure observed since July 23. The five-day high comes amid what has been largely a week of stability in the price of the digital asset against the dollar. Bitcoin prices fell ...

Posted on 28 July 2017 | 7:25 am

$8.2 Million: Court Orders Default Judgment Against Cryptsy CEO

A U.S. district judge has handed down a default judgment worth $8.2 million against the CEO of the collapsed Cryptsy exchange.

Source

Posted on 28 July 2017 | 7:00 am

Bitcoin: In Need Of An Activist Investor - Seeking Alpha


Bitcoin: In Need Of An Activist Investor
Seeking Alpha
What most people missed with the plunge in Bitcoin (OTCQX:GBTC) prices was that it wasn't the bubble bursting - or Dot-com bubble 2.0 happening - rather it was genuine concerns over internal conflict. A potential splitting of Bitcoin was leading to a ...

Posted on 28 July 2017 | 6:50 am

Nasdaq Stockholm Fines Bitcoin Exchange-Traded Note Provider - CoinTelegraph


CoinTelegraph

Nasdaq Stockholm Fines Bitcoin Exchange-Traded Note Provider
CoinTelegraph
The Disciplinary Committee of the Stock Exchange Nasdaq Stockholm has imposed a fine of more than $120,000 to XBT Provider AB, a provider of publicly-traded Bitcoin exchange-traded note (ETN), due to alleged violations of exchange rules and financial ...

and more »

Posted on 28 July 2017 | 6:04 am

Hyperledger Blockchain Project Adds 10 New Members

The Hyperledger blockchain consortium has grown its ranks again, with the addition of 10 new members.

Source

Posted on 28 July 2017 | 6:00 am

German Chemical Company Pilots Supply Chain Blockchain

German chemical giant BASF has revealed it is investigating blockchain's potential in tracking supply chains.

Source

Posted on 28 July 2017 | 5:01 am

AMD: Cryptocurrency Mining Isn't 'A Long-Term Growth Driver'

Chip maker AMD has seen its sales buoyed in recent months by big demand for graphics cards by cryptocurrency miners.

Source

Posted on 28 July 2017 | 4:00 am

Overstock's TØ Has Already Built a Platform for Trading Regulated ICOs

A new wave of blockchain-based securities could help propel forward the blockchain strategy of one of the largest US retailers.

Source

Posted on 28 July 2017 | 3:30 am

Bitcoin Crash? Futures Price For Bitcoin Cash Plunges 50%, BTC Up 7% - CoinTelegraph


CoinTelegraph

Bitcoin Crash? Futures Price For Bitcoin Cash Plunges 50%, BTC Up 7%
CoinTelegraph
Bitcoin is surging higher as Bitcoin Cash (BCC) futures value crashes 50 percent prior to its proposed Aug. 1 activation date. Data from ViaBTC shows the Bitcoin fork, which does not yet exist, fell from around 0.15 BTC to 0.08 BTC per coin in the last ...
Bitcoin Price Goes up by $160 as $3000 Target is Within ReachThe Merkle
Bitcoin Price Analysis - Expect volatilityBrave New Coin
Bitfinex to provide Bitcoin holders equivalent balances in Bitcoin CashCryptoNinjas
Information Age -newsBTC -FT Alphaville (registration)
all 19 news articles »

Posted on 28 July 2017 | 3:24 am

Howard Marks says bitcoin isn't real—and we can all blame millennials for its rise - MarketWatch


MarketWatch

Howard Marks says bitcoin isn't real—and we can all blame millennials for its rise
MarketWatch
Howard Marks has some harsh words for the bitcoin community and the rise of digital currencies, which have become all the rage lately. “Digital currencies are nothing but an unfounded fad,” said the co-chairman of Oaktree Capital Management, who was ...
Billionaire Investor Warns Bitcoin is Pyramid SchemeCoinTelegraph
Bitcoin SCAM warning: Currency is 'pyramid scheme' says top investor who predicted crashExpress.co.uk
Howard Marks Trashes Bitcoin: 'An Unfounded Fad'Wall Street Journal (subscription) (blog)
Oaktree Capital
all 25 news articles »

Posted on 27 July 2017 | 5:14 pm

Bitcoin Startup KeepKey Ends Support For Multibit Wallet Software

The long-running bitcoin wallet Multibit is being discontinued, the firm that bought it last year has announced.

Source

Posted on 27 July 2017 | 4:00 pm

Boxing Champ Floyd Mayweather Just Promoted an ICO on Instagram

Boxing champ Floyd Mayweather, Jr., has promoted an ICO on his Instagram account.

Source

Posted on 27 July 2017 | 2:34 pm

'First' Ethereum Decompiler Launches With JP Morgan Quorum Integration

What could be the first-ever ethereum smart contract decompiler was demoed at a hacker event in Las Vegas on Thursday.

Source

Posted on 27 July 2017 | 2:15 pm

Investor Howard Marks: Cryptocurrencies Aren't Real

A noted investor is taking aim at bitcoin and cryptocurrencies, deeming them in a recent investor note as "not real".

Source

Posted on 27 July 2017 | 12:51 pm

Indian State Officials to Weigh Policies for Public Sector Blockchain Use

Officials in Karnataka are planning an event on blockchain and governance in the near future.

Source

Posted on 27 July 2017 | 11:10 am

A New SegWit Lock-In Period Has Started and All Mining Pools Are Signaling

A milestone has been hit in the potential activation of Segregated Witness, code that would upgrade the network's capacity.

Source

Posted on 27 July 2017 | 10:00 am

Irish Central Bank Chief: Blockchain is One of 'The Largest Policy Challenges'

New technologies like blockchain represent a major policy challenge, according to the head of Ireland's central bank.

Source

Posted on 27 July 2017 | 9:05 am

Bitcoin Investment Vehicle Fined $120k by Nasdaq Exchange

The provider of a publicly traded bitcoin ETN has been fined by Nasdaq Stockholm for infractions of internal rules and financial regulations.

Source

Posted on 27 July 2017 | 8:05 am

Washington's New Cryptocurrency Exchange Rules Are Now in Effect

New regulations that apply money transmitter laws to cryptocurrency exchanges have gone into effect in the U.S. state of Washington.

Source

Posted on 27 July 2017 | 7:00 am

The DAO Report: Understanding the Risk of SEC Enforcement

A legal expert discusses the potential impact of a new SEC report on the use of blockchain-based tokens for fundraising.

Source

Posted on 27 July 2017 | 6:30 am

The Rate of Blockchain Patent Applications Has Nearly Doubled in 2017

The number of cryptocurrency and blockchain patent applications in the US has nearly doubled in the past year, USPTO data reveals.

Source

Posted on 27 July 2017 | 4:00 am

SEC Weighs In on ICO Tokens as Securities; Ether Still Labeled “Currency”

SEC vs ICO tokens

It was only a matter of time before the U.S. Securities and Exchange Commission (SEC) moved in on the “Wild West” world of Initial Coin Offerings (ICOs), which has sent the blockchain world reeling. Yesterday, it finally did with its announcement that virtual tokens like the ones sold by the DAO are securities and now subject to federal securities laws.

The SEC statements reads in part: “federal securities laws apply to those who offer and sell securities in the United States, regardless whether the issuing entity is a traditional company or a decentralized autonomous organization, regardless whether those securities are purchased using U.S. dollars or virtual currencies, and regardless whether they are distributed in certificated form or through distributed ledger technology.”

The SEC is cautioning investors not only to be aware of the risks but also to ensure that those looking to get involved do their own due diligence as well.

One important distinction that seems to have emerged in the report, however, is that while DAO tokens are securities, Ether itself is still in the clear.

The Report seems to distinguish between Ether, labeled a virtual currency, and DAO Tokens, labeled a security. Market participants may take comfort in this distinction, as it supports the view that not all blockchain tokens are securities under the U.S. Federal Securities Laws. - Devebois & Plimpton LLC

The announcement, nevertheless, is expected to have an impact on token sales. As a result of this recent development, it is important to note that any company looking to raise capital through ICOs in the U.S. will have to take this SEC decision into consideration.

On the legal side, Louis Lehot of DLA Piper told Bitcoin Magazine: “Those considering a token offering would be well served to reconsider their plans and ensure compliance in all of these areas, from tip to tail.”

Lehot said: “The SEC’s release is most notable on its survey of many of the corollary issues which can be triggered under the federal securities laws when a token is deemed a security, from registration or exemption, whether general solicitation is permissible, to crowdfunding, to after-market trading and even addressed compliance issues under the 1940 Act.”

What Is “The Howey Test”?

The Howey test is the leading definition of an investment contract, referring to the U.S. Supreme Court case SEC v. W.J. Howey Co. Under the Howey test, an investment contract is “a contract, transaction or scheme whereby a person invests his money in a common enterprise and is led to expect profits solely from the efforts of the promoter or a third party.”

According to Jaron Lukasiewicz, CEO of stealth blockchain project WORKFLOW and former investment banker, “The standard test is an investment in a business where the buyer has a reasonable expectation of profits based on the efforts of others. It should come as no surprise that the SEC found that buyers of the DAO Token purchased a security.”

He explained that the key feature of the DAO token was indeed an expectation of profit if the investments made by the DAO were successful, and so DAO tokens were expressly sold as an investment.  

Lukasiewicz added: “Unlike a token such as Ether, the DAO token had no other utility.  Many people in the industry at the time were concerned about the DAO for the reasons stated by SEC.”

Marco Santori, partner at Cooley LLP and legal ambassador for the Delaware Blockchain Initiative, shared an excellent summary of the report's key points on Twitter, touching chiefly on the distinction between tokens that are and are not securities.

santori screenshot

Arnold Spencer acts as general counsel for the Coinsource network of Bitcoin ATMs. He summed up the distinction in a succinct analogy:

If you buy an interest in a golf course to make money from the business, it is a financial investment and therefore a security. If you join a golf club to play golf, it is not a financial investment and not a security.

Important — but Not Surprising

Ron Chernesky, CEO of social trading platform investFeed, said that he welcomes the SEC announcement, although he also noted that “before yesterday’s announcement, it was common knowledge that ICOs have been enveloped in a regulatory [gray] area.”

It would appear that that gray area has now shrunk somewhat.

The post SEC Weighs In on ICO Tokens as Securities; Ether Still Labeled “Currency” appeared first on Bitcoin Magazine.

Posted on 26 July 2017 | 3:33 pm

London Stock Exchange Partners With IBM to Develop Securities Data Blockchain

London Stock Exchange

The London Stock Exchange (LSE) subsidiary Borsa Italiana has announced plans to digitize securities certificate data with the adoption of IBM Blockchain.

The partnership between LSE and IBM will give small private European companies the opportunity to interact with shareholders and vice versa. It will also simplify the tracking and management of information by recording all shareholder transactions.

Commenting on the deal to Bitcoin Magazine, Ed Clark, senior press officer at the LSE, said, “It has the potential to allow private SMEs [small- and medium-sized enterprises] to replace the paper-based system that currently exists that is both opaque and inefficient. Greater transparency could lend itself to trading opportunities in the future.”

Clark stressed that the development with IBM was initiated by the Italian subsidiary, adding, “This was a business-led initiative that came from Borsa Italiana — not built by LSE tech guys and then applied to a business-case, bottom-up approach.”

The solution is undergoing an initial test phase with a small group of LSE partners and clients. So far, the move is being met with approval by blockchain and exchange specialists.

Patrick Young, executive director of DV Advisors, an advisory company for exchanges, told Bitcoin Magazine, “The LSE deploying blockchain [technology] for private company data management makes eminent sense. It’s a simple first-level deployment as opposed to a radical shift involving retirement of legacy non-DL [distributed ledger] technology.”

This blockchain solution, developed in collaboration with IBM, is built on highly secure infrastructure technology with the highest levels of encryption commercially available.

The LSE is not the first European exchange to announce the use of blockchain technology. This year there have been a number of European banks that have said they are using blockchain-based trade finance for SMEs. This includes the American International Group and Standard Chartered Bank.

Eddy Travia, CEO of Coinsilium, a firm that finances and manages the development of early-stage blockchain technology companies, said to Bitcoin Magazine: “Blockchain technologies offer the potential for greater efficiencies and streamlined processes by reducing operational costs through automated transactions and smart contracts, thus removing costs usually associated with intermediaries.”

IBM is seeing blockchain technology as an important part of its security plans. The technology is built on Hyperledger Fabric version 1.0, a blockchain framework. The projects are hosted by the Linux Foundation, and the system will allow sensitive securities data to be shared with permissioned network participants while remaining secure and gated.

Travia added: “Hyperledger is clearly targeting large corporate clients with their permissioned blockchain solution, but in the future it is likely that we will see the adoption of a range of blockchain propositions such as RSK, which offers a balanced solution between true decentralized public blockchains and federated nodes.”

“Sharing secure and transparent critical network data across shareholder networks is difficult using traditional system[s],” said Marie Wieck, general manager of IBM Blockchain, in a statement. “Blockchain [technology] is poised to help remove some of these barriers in traditional methods for the transfer of value — much as the internet did for the exchange of information in the late 1990s.”

The post London Stock Exchange Partners With IBM to Develop Securities Data Blockchain appeared first on Bitcoin Magazine.

Posted on 25 July 2017 | 7:31 pm

Federal Government Approves Regulation Request of LedgerX

LedgerX

On July 24, LedgerX announced the CFTC’s approval for a Derivatives Clearing Organization (DCO) license under the Commodity Exchange Act (CEA). The license will allow the company to provide clearing services for fully collateralized digital currency swaps for the first time. On July 6, the CFTC also granted LedgerX an order of registration as a Swap Execution Facility. The company, which was founded in 2013, already received a temporary approval as a Swap Execution Facility in 2015.

Despite the approval, the CFTC highlighted that LedgerX’s current authorization “does not constitute or imply a Commission endorsement of the use of digital currency generally, or bitcoin specifically.” The Commission added that, along with the approval, it had issued a letter on July 24 exempting LedgerX from “certain regulations” implied by the CFTC due to the firm’s fully collateralized clearing model.

By obtaining a DCO license, LedgerX will be able to provide specific services on the company’s platform to participants, including obtaining and hedging bitcoin and other cryptocurrencies by using exchange-traded and centrally cleared option contracts. With the regulatory approval, the company expects to list one- to six-month options contracts for bitcoin in addition to adding contracts for other cryptocurrencies, such as ETH options.

“A U.S. federally regulated venue for derivative contracts settling in digital currencies opens the market to a much larger customer base,” Paul L. Chou, the CEO of LedgerX, said in a statement. “We are seeing strong demand from institutions that previously could not participate in the bitcoin market due to compliance restrictions against unregulated venues. In particular, there is a desire for fund managers to hold financial instruments that are not correlated with the broader equity market, and digital currencies meet that need.”

LedgerX is planning to provide required services, such as surveillance and transparency, for institutional investors. According to the company, participants eligible for LedgerX’s services include registered broker dealers, banks, futures commission merchants, qualified commodity pool entities and qualified high-net-worth investors.

“These are exciting times to have a new digital asset class emerge. I hope that the effort LedgerX put forward in the U.S. can set the stage for a global approach to this new digital asset class,” Mark Wetjen, a member of the board of directors for LedgerX’s parent company, Ledger Holdings, stated.

According to Chou, the approval for the license took more than two years partly because of a long education process. LedgerX secured $11.4 million of funding in May, led by Miami International Holdings Inc. and China’s Huiyin Blockchain Venture Investments, to acquire the clearing license from the CFTC.

“LedgerX’s registration is a historic milestone for derivatives and for digital currencies. To me, it is equivalent to the launch of currency futures back in 1972 that heralded the beginning of exchange-traded and cleared derivatives based on financial products,” Gary DeWaal of Katten Muchin Rosenman LLP, one of the companies assisting LedgerX during its CFTC application process, said in a statement.

The post Federal Government Approves Regulation Request of LedgerX appeared first on Bitcoin Magazine.

Posted on 25 July 2017 | 5:33 pm

Lamassu’s Zach Harvey Shares Data on the Growing Use of Bitcoin ATMs

Lamassu’s Zach Harvey Shares Data on the Growing Use of Bitcoin ATMs

Lamassu is a bitcoin ATM manufacturer that started in 2013 with the goal of making it “as simple as possible to get bitcoin.” There are now hundreds of these bitcoin ATMs around the world, and one of Lamassu’s co-founders, Zach Harvey, recently shared some data related to how these machines are used at a Bitcoin meetup in Milan.

While a recent article in the New York Post warned bodega owners against putting bitcoin ATMs in their stores due to potential use by darknet market customers, Harvey stated his belief that most of the bitcoin ATM users are using the devices for speculation on the bitcoin price, which he sees as the biggest use case for the digital asset right now.

According to Harvey, Lamassu set up their business in a decentralized, distributed manner where they manufacture the machines in Portugal and then sell them to operators around the world.

“The reason we did this in a way that is more distributed is because we felt the system would be a lot more robust if every one of these individual operators ran the machines themselves, had their own bitcoin wallets from which to send to the end user, had full control over their user data, there would be no single point of failure, and it would also be more in the spirit of Bitcoin,” said Harvey at the recent meetup.

Harvey went on to discuss data related to the use of bitcoin ATMs, problems associated with increased congestion on the Bitcoin network, and a specific example of why he thinks bitcoin is going mainstream.

Who Uses Bitcoin ATMs?

According to Harvey, the people who use bitcoin ATMs are mostly non-tech savvy users who want to get their first taste of digital currency. Harvey added that bitcoin ATMs tend to attract these types of users due to a focus on convenience and user experience. The Lamassu co-founder also claimed that a new user can complete a transaction in 20 to 30 seconds, while someone familiar with the machine can be done in less than ten seconds.

Two of the key selling points of bitcoin ATMs mentioned by Harvey were that users don’t have to go through the process of connecting a bank account with an exchange and the machines can feel like a safer option than meeting up with a random person found on a P2P bitcoin trading marketplace like LocalBitcoins.

According to Harvey, the selling points of bitcoin ATMs are so strong that many people are willing to pay the 10 to 15 percent exchange fees that come with them. He claimed that the more popular bitcoin ATMs get around 50 transactions per day and “sometimes you’ll even have queue at some of the machines.”

“If you’re around a bitcoin ATM, there really is no easier way of [getting some bitcoin],” Harvey later added.

Having said that, Harvey indicated that many of the bitcoin ATMs in the United States include some sort of identity verification due to Know Your Customer and anti-money laundering regulations. The level of identity verification required tends to vary, depending on the amounts involved and where the bitcoin ATM is located.

Harvey also shared data from one of their operators, who owns 14 machines, that indicated these bitcoin ATMs tend to be used for low-value transactions.

“These are people that just want to get the first experience — see what it’s like to get into bitcoin,” said Harvey. “If they really just want to see what it’s about — feel a little bit of the magic of bitcoin — they’re going to start with a low amount.”

“If you look at machine number 13, there’s almost 90 percent of transactions that are under $100,” Harvey added.

According to the data shared by Harvey, 20 to 30 percent of the transactions at these particular bitcoin ATMs are for less than $10.


Screenshot 2017-07-21 at 4.37.14 PM.png


Network Transaction Fees Have an Effect on Bitcoin ATMs

During his appearance at the Bitcoin meetup in Milan, Harvey also discussed the effect that increased congestion on the Bitcoin network has had on bitcoin ATMs. He noted that operators asked for the functionality to add a flat fee or the complete removal of the $5 and $10 transaction amounts when on-chain transaction fees get into the $1–$2 range.

Harvey also noted that roughly 90 percent of the transactions that are usually processed by bitcoin ATMs would become uneconomical if on-chain bitcoin transaction fees reached $10.

Due to demand from their operators, Lamassu plans to add altcoins, such as ether and zcash, to their machines in the coming weeks. These altcoins feature shorter confirmation times, which can be helpful in situations where a user wants to trade their cryptocurrency for physical cash.

“It’s not as secure as a bitcoin confirmation, but it’s more secure than a zero-confirmation of bitcoin,” Harvey said of confirmations on other cryptocurrency networks.

Due to Bitcoin network congestion and poorly implemented fee estimation software on users’ mobile wallets, Harvey noted that some users have had to wait over a day to get their cash out of a bitcoin ATM.

In terms of unconfirmed bitcoin transactions, Harvey stated that not many operators have had issues with accepting them.

Bitcoin Going Mainstream?

Although Lamassu also has machines in North America, Europe, Asia, Australia and New Zealand, Canada has become their most active userbase. According to data shared by Harvey, the Toronto area alone has around 50 Lamassu bitcoin ATMs.

“Several years ago, [this] would have seemed like way too many, and now it’s starting to be something that’s the norm as bitcoin goes more mainstream,” said Harvey of the density of bitcoin ATMs in Toronto.

When sharing data related to the proliferation of Lamassu’s bitcoin ATMs around the world, Harvey showed a screenshot of an email he received from a convenience store owner in Toronto.


Screenshot 2017-07-21 at 4.37.44 PM.png

“Customers are coming into my store, and they’re telling me, ‘Why don’t you have a bitcoin ATM?’” Harvey paraphrased from the email. “Can I please get one placed here?”

This is the same area that already has roughly 50 bitcoin ATMs around it.

Watch the full presentation here.


The post Lamassu’s Zach Harvey Shares Data on the Growing Use of Bitcoin ATMs appeared first on Bitcoin Magazine.

Posted on 25 July 2017 | 12:42 pm

Eleven Global Cities to Participate in Bitcoin Airdrop 2017

Eleven Global Cities Announce Participation in Bitcoin Airdrop 2017

The Blockchain Education Network (BEN), a global network of blockchain communities, has announced a global Bitcoin Airdrop powered by bitJob to begin this new school year. Fintech communities and universities in 11 regions have agreed to participate including McGill University and the Richard Ivey School of Business in Canada; UC Berkeley, Wake Forest University and St. Petersburg in the United States; University of Queensland in Australia; Trivandrum and Bangalore in India; St. Petersburg in Russia; and Puerto Rico and Colombia.

The first airdrop event begins on August 11 in Colombia, where Jorge Pérez, the director of BEN Colombia, is hosting a meeting at a restaurant. The airdrop then moves to St. Petersburg in Russia on August 16, where the giveaway is being held in unison with the ICO-Hypethon, an ICO-focused hackathon where blockchain developers will build infrastructure around ICOs to pitch to investors. The airdrop will continue on to other campuses and cities until the network has distributed the entire amount of donations.

Rodion Mikhalev, the director of BEN Russia and one of the organizers of the ICO-Hypethon, explained in a statement that “the Hypethon is a mix between a hackathon [and] an accelerator. It’s a 48-hour event hosted by Crypto Friends, where Eberhard Lindfordt will screen the top 20 projects out of hundreds of applicants. Teams chosen will receive help from experienced [b]lockchain experts which will help them finalize their business and lead them into successful ICO launches.

“There will also be ICO angels ready to invest their money into projects on the spot and whom will receive additional bonus coins if done so at the event. This is the perfect event in Russia to host the airdrop and to distribute bitcoins to the hundreds of innovators who will pass by in the 48-hour window, and we are excited to participate in it! This is a very rare and exciting opportunity which will attract some of Russia’s best talent and will pave the way to a better future worldwide.”

Alberto Jauregui, the director of growth of the Blockchain Education Network, said in a statement that he believes the “Bitcoin Airdrop serves as an engine to introduce students to the disruptive blockchain industry and incentivize them to band together to form new BEN chapters or regions.”

Last year, Jauregui hosted a small airdrop outside the main library at the University of South Florida and hid paper wallets throughout the campus. This year, he plans to coordinate an airdrop alongside a BitCrawl on Central Avenue in St. Petersburg, Florida. The date is to be announced. “Who doesn’t like free Bitcoin?” Jauregui added. BitCrawl is an event started in Montreal by the McGill Students Cryptocurrency Club and then continued by the Decentralized Tech Association at the University of Toronto, in which a main street agrees to accept bitcoin for an evening and a group of blockchain enthusiasts go between different venues.

High schools are also going to be giving away bitcoin at this airdrop. Sunrose Billing, the director of BEN’s high school network, said in a statement to Bitcoin Magazine that “blockchain [technology] and cryptocurrencies are really taking off and will absolutely continue to grow at a rapid pace. That’s clear when you see teenagers day trading, analyzing macro landscapes and taking the time to educate themselves about innovation in this space in their spare time.” Billing plans to airdrop bitcoin to his friends at University of Toronto School, a high school in Toronto, and he expects that many of his friends at other high schools will join this year’s event.

The title sponsor of the event is bitJob, a decentralized marketplace based on blockchain technology that connects students with part-time work. BitJob has already partnered with many of the blockchain clubs at the participating campuses of the airdrop, including McGill University and the Richard Ivey School of Business, that have agreed to seed the marketplace with the first students looking for work on projects that can help them become fully employed in the blockchain industry.

“It is a true honor to be sponsoring the 2017 Blockchain Education Network’s Global Bitcoin Airdrop across university campuses. BitJob shares a similar mandate with BEN to empower students and give them the necessary tools to compete in today’s marketplace. This year’s event is shaping up to be the largest ever as the popularity of Bitcoin and [b]lockchain [technology] continues to rise globally,” said Dror Medalion, co-founder and CEO of bitJob, in a statement to Bitcoin Magazine.

The airdrop is being supported by blockchain media firms Blockchain TV and BTC Media, digital identity startup DIID and blockchain consulting and development firm MLG Blockchain.

“I am very excited to be a sponsor in this year’s Blockchain Education Network’s global Bitcoin Airdrop 2017. BEN is a driving force behind empowering the youth of tomorrow, which makes for a great story to tell!” said James Gonzalez, co-founder and CEO of Blockchain TV, in a statement.


The post Eleven Global Cities to Participate in Bitcoin Airdrop 2017 appeared first on Bitcoin Magazine.

Posted on 25 July 2017 | 12:16 pm

Bad Karma: Community Objects to “Opportunism” of Buddhism on the Blockchain

Lotos

Last week, startup company Lotos published its new project on Reddit aiming to create a decentralized religious community, supporting Buddhism and meditation, based on the Ethereum blockchain. According to the company’s white paper, the community’s structure will be segmented into three parts: “an off-blockchain software platform” connecting the teachers and the students; “an internal economy supported by ERC20 tokens purchased by subscription fees and a central banker smart contract;” and “a website and
database backend connected to the network with Swarm.”

The ERC20 compatible Karma (KRM) token will be used for on-platform exchanges and for crowdfunding the development of the platform. In addition to that, if users are able to grow the network, they will receive KRM as a reward.

The company believes they can create a blockchain-based community by combining science and religion in a radical way. There is even a statement from Tenzin Gyatso, the 14th Dalai Lama, included in the whitepaper:

“If scientific analysis were conclusively to demonstrate certain claims in Buddhism to be false… then we must accept the findings of science and abandon those claims.”

The Lotos community will be divided into two parts: students and teachers. Teachers will be either elected or assigned by the company’s owner. They offer religious services for the students including “facilitating student retention and progress,” creating content for the network and “recruiting” new students. The teachers will earn Karma tokens for their activities.

On the other hand, the students can freely register into the community, although, for a price. Lotos will allow students to join “temples” and classes but they have to pay KRM tokens to do so. Furthermore, there is “Karma-gated” content, which is only available if certain students pay a flat monthly subscription fee. Students can also earn KRM bonuses if they meditate, the more regular their activity is, the more bonuses they can earn, the whitepaper detailed.

When Lotos published its whitepaper in the Ethereum community on Reddit, they received hard criticism. Most of the users argue that Buddhism does not comply with materialism.

“I think ‘searching meaning beyond materialism’ and material ‘reward of spiritual practice’ don't mix together very well. Just a thought,” one user wrote.

“Dude what you are doing is not Buddhism it's Opportunism. Buddhism is about Simplicity, you are leading people into Complexity. Basically with your System people's Incentive to meditate IS TO MAKE MONEY (NOT LIBERATION),” another user wrote on Reddit.

Others in the community suspect that the whole project, which is planning to launch an ICO, is a scam or some sort of money grab.

“Here's the problem man: you are coming out with an ICO right at a time when the inherent corruption in ICOs is very much a public thing. I like the idea of a decentralized meditation app, I really do. However the fact that you are doing an ICO for ‘decentralized religion’ on something that isn't non-profit ESPECIALLY BUDDHISM screams scam, and I believe it is one. If this is really your passion to help people around the world learn to meditate and become spiritual, you wouldn't have a for-profit business model. Without a non-profit, you really don't have a leg to stand on when it comes to spirituality,” a user named “PJBRed27” said about the project.

Surprisingly, it seems the negative opinions on the project made Lotos change some of the concepts of the project:

“We are changing direction a bit now:

  1. Remove ICO mention from all marketing material / stop the crowd-fund campaign and work on building our community.

  2. Start playing the slow and steady ‘snowball going down a mountain’ game.

  3. Write blog posts at least once per week, each post highlights one of the community's biggest concerns with our project (like why we need ERC20 tokens).

  4. This also gives us time to find both blockchain and buddhist advisors.

  5. Move away from 'Buddhist’ to ‘Secular Meditation’.”

The post Bad Karma: Community Objects to “Opportunism” of Buddhism on the Blockchain appeared first on Bitcoin Magazine.

Posted on 24 July 2017 | 2:14 pm

Mastercard and Cisco Join Enterprise Ethereum Alliance

Mastercard

The Enterprise Ethereum Alliance (EEA) was recently joined by 34 new members, including Mastercard, Cisco, Scotiabank and the Government of Andhra Pradesh, bringing the total membership of the consortium to over 150 organizations.

On July 18, 2017, the Enterprise Ethereum Alliance published a press release claiming that — with the 34 new members and the total size of 150-plus participants — the EEA became “the world’s largest open-source blockchain initiative.” According to the consortium, which focuses on developments on the Ethereum blockchain, the newest members of EEA represent a “wide variety of business sectors, including technology, banking, government, healthcare, energy, pharmaceuticals, marketing, and insurance, as well as a number of fast-growing Ethereum startups.”

The main concept of the nonprofit is to “build, promote, and broadly support Ethereum-based technology best practices, open standards, and open source reference architectures.”

There was a bit of confusion in the Ethereum Reddit community since Mastercard was not listed among the new members in EEA’s press release. However, Andrew Keys, head of global business development at ConsenSys, cleared up the issue.

“Mastercard is indeed a new member of EEA. They asked not to be in the press release document but approved being on the EEA official website. They may be doing their own communications on this,” he wrote.

CEOs and representatives of many of the newly joined members of the EEA expressed their gratitude and commitment toward the project.

“As Fintech Valley Vizag in Andhra Pradesh aims to become a vital financial technology hub, it is working on adopting more robust systems that are cost-effective. With security issues all over the world, there is no doubt that blockchain technology is set to be the biggest disruptor not only in the financial world, but also [in] a number of online and offline sectors. We are keen on integrating blockchain technology into governance and look forward to our collaboration with Enterprise Ethereum Alliance and provide market access to the community,” J. A. Chowdary, special chief secretary and IT advisor to the chief minister at the Government of Andhra Pradesh (India), stated.

“OTP Bank keeps focusing on innovative technologies. Nowadays we think that the most valuable asset is the trust between the bank and the customers. Blockchain technology gives several advanced solutions in [the] security industry. OTP Bank has chosen Ethereum as a partner, because we consider it a state-of-the-art blockchain technology. Via joining the Ethereum community, OTP will be able [to] achieve its goals smoothly. Through the common standards and best practices evolving in Ethereum Enterprise Alliance, our IT systems will be more secure and highly developed,” László Popovics, head of IT innovations at OTP Bank — the leading bank in Hungary and one of the largest independent financial service providers in Central and Eastern Europe — wrote.

The Enterprise Ethereum Alliance was formed in late February by a group of financial institutions, blockchain startups and innovators. The consortium — with J.P. Morgan and Intel as the most prominent names among the founding members — aims to standardize blockchain tech for enterprise settings. At the time of the EEA’s launch, the participants created a reference architecture for their project, called “EntEth 1.0,” which has a stronger focus on privacy.

Excluding Mastercard from the list, the newest members of the Enterprise Ethereum Alliance include:

2Advise; Amalto Technologies; Antibiotic Research UK (ANTRUK); Aquilon Energy Services, Inc.; ASSETH; BLOCKO Inc.; Bloq; Cisco Systems; Cybersoft Digital Services Corp.; Enter Corporation Co., Ltd.; Equities.com, Inc.; Finclusion Labs, Inc. (WeTrust.io); Government of Andhra Pradesh; HashCash Consultants; HEAL Alliance; iEx.ec; Lazarski University; Loyyal Corporation; MadHive; Mattr; NetObjex Inc.; OTP Bank Plc.; QIWI Blockchain Technologies LLC.; Revelry; RISKebiz; Scotiabank; Streami Inc.; Talkcrypto.org; Technical University of Munich; Texcent Asia Pte Ltd; TIS R&D Center, Inc.; TokenCard/Monolith; Ventured and Ypse IT Solutions.

The post Mastercard and Cisco Join Enterprise Ethereum Alliance appeared first on Bitcoin Magazine.

Posted on 24 July 2017 | 2:06 pm

Bitcoin reaches new all-time high: $ 3,000

Posted on 12 June 2017 | 1:06 am

CRYENGINE now accepts Bitcoin

Posted on 29 March 2017 | 1:24 am

Consulting firm EY Switzerland accepts Bitcoin

Posted on 26 November 2016 | 12:47 am

Bitcoin Trading Bots

There have been a wide variety of situations in which algorithmic trading programs have proven to be beneficial for investors. However, investors who only trade a cryptocurrency can also take advantage of bitcoin trading bots. Through bitcoin bot trading, traders can become more flexible and prompt, minimize errors and process information more rapidly. At this… Read More »

Posted on 8 November 2016 | 6:20 pm

Steam accepts Bitcoin

Posted on 29 April 2016 | 1:09 am

Advertise with Anonymous Ads

Major Magazine Publisher to Accept Bitcoin Payments

Posted on 18 December 2014 | 12:43 pm

Microsoft accepts Bitcoin

Posted on 11 December 2014 | 5:06 am

PayPal and Virtual Currency

Posted on 23 September 2014 | 9:52 pm

Wikimedia Foundation Now Accepts Bitcoin

Posted on 30 July 2014 | 3:14 pm

German Newspaper "taz" accepts Bitcoin

Posted on 22 July 2014 | 1:32 pm

airBaltic - World’s First Airline To Accept Bitcoin

Posted on 22 July 2014 | 11:03 am

Expedia to accept Bitcoin payments for hotel bookings

Posted on 12 June 2014 | 12:41 pm

Bitcoin Core version 0.9.1 released

Posted on 8 April 2014 | 4:27 pm

July 28, 2017 -
Real Time Analytics