Saturday, March 30, 2013

Sky News Trying to scare people away from using Bitcoins (30Mar13)

Sky News trying to scare people away from using Bitcoins. Oh no, it's unregulated - unlike those trusty being devalued into the ground paper Fiat currencies we can all "trust".... Oh no, Bitcoins can be used by criminals, like paper money, cheques, and postal orders have neber been used by criminals!

Sky News Trying to scare people away from using Bitcoins (30Mar13)

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Friday, March 29, 2013

Businessweek: Bitcoin May Be the Global Economy's Last Safe Haven

March 28, 2013 One of the oddest bits of news to emerge from the economic collapse of Cyprus is a corresponding rise in the value of Bitcoin, the Internet’s favorite, media-friendly, anarchist crypto-currency. In Spain, Google (GOOG) searches for “Bitcoin” and downloads of Bitcoin apps soared. The value of a Bitcoin went up to $78. Someone put out a press release promising a Bitcoin ATM in Cyprus. Far away, in Canada, a man said he’d sell his house for BTC5,362.

Bitcoin was created in 2009 by a pseudonymous hacker who calls him or herself Satoshi Nakamoto (and who might be several people). It’s a form of virtual cash used to buy goods and services online. Even by Web standards, it’s a strange and supergeeky phenomenon. This is what happens when software and networks meet the concept of currency, when you take peer-to-peer networks and advanced cryptography and ask, “How can I make a new economy?”

There are 10,952,975 Bitcoins in circulation. (With a digital currency you can be specific.) Bitcoin isn’t about to replace hard currency—with a market cap of $864 million, all of it is worth less than what Facebook (FB) paid for Instagram—but it’s bigger than anyone expected. And many people will tell you that the emergence of a virtual global money supply beyond the reach and control of any government is very real and that it’s time we take it seriously. As long as the Internet remains turned on, Bitcoin will be there—to its adherents, it’s the Platonic currency.

A dollar bill has a serial number and travels from buyer to seller. A Bitcoin’s not so much a thing as an understanding, a balance in a decentralized general ledger, or “account log.” Bitcoins are created as the side effect of a great deal of meaningless computational work. That is, the computer could be working on protein-folding, or processing images, or doing something else with its time, but instead it’s being used to “mine” Bitcoins—searching for mathematical needles in a networked haystack. Once the needle is found, a “block” of Bitcoins is born. Bitcoins live in a bit of software known as your “wallet.” Read more here:

Amazingly Best list of Free Bitcoins Websites | You can find more information on Bitcoin Mining here: and here:

ASIC Miner Starts Hashing Bitcoins

Butterfly Labs ASIC Bitcoin Miner, Mining Bitcoins for Free - Awesome Perfomance, New Bitcoin World - Latest Bitcoin News, Litecoin, BTC, LTC
Feb 14, 2013, ASICMiner, one of the three major developers of ASIC (application-specific integrated circuit)-based Bitcoin mining hardware, has announced that they have turned on their chips, and are outputting 1.7 TH/s of hashing power in a testing run. The event makes them the second company after Avalon to have working ASIC hardware, leaving the last remaining competitor, Butterfly Labs, behind. The 1.7 TH/s testing run represents only a small portion of the company’s full hashing power; ASICMiner has reported that their full first batch will have over 12 TH/s of hashing power, or slightly over half that shipped by Avalon, and intends to start the remaining batch running very soon; “the real update will be given in a few hours,” ASICMiner reports.

ASICMiner differs from its two competitors in one key way: it is not actually selling any mining rigs to consumers. Rather, the company is keeping all of its hardware in house, and financed its development through 2012 by issuing company shares. The shares were originally released in August on the (now-defunct) Global Bitcoin Stock Exchange, opening up 7.5% of the company’s future profits to investors at a valuation of 40,000 BTC for the entire company. The offering was a success, selling out within days. The setup proved to be problematic when the GLBSE unexpectedly shut down, causing the company to lose contact with many of its investors, but the company finally received the shareholder database from the GLBSE in December, and shares will once again start trading and paying dividends on a yet-unspecified alternate platform soon.

Network hash power is currently at around 25 TH/s, suggesting that many Avalon customers still have not received their rigs. Once most of Avalon’s customers turn their hardware on and ASICMiner starts hashing, network hash power is expected to increase to about 40-50 TH/s – with some old GPU miners dropping out because of the increased difficulty. February is proving to be a great month for Bitcoin miners so far; the sudden rise in price has allowed Jeff Garzik’s Avalon machine to pay for itself in nine days, and ensured that miners’ operating margins are now higher than they were before the mining reward drop in December. Butterfly Labs reports that their chips have been delivered to the bumping facility, suggesting that while they are not shipping just yet production is finally nearing completion; unfortunately, in a market where timing is everything, their customers will not be able to benefit from the same window of opportunity that Avalon and ASICMiner have.  
However, some Butterfly Labs consumers will be able to enjoy a 10-25% discount from their next purchase if they ordered early. Meanwhile, Avalon and ASICMiner are already working on second batches, with ASICMiner reporting that their next batch, which is “ordered and being produced in the fab already,” [will be 50 TH/s]( Although the ASIC mining market is unfolding much more slowly than many of us had predicted, it looks like the next two months will be the time that the new machines finally start to come online en masse. -

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Amazingly Best list of Free Bitcoins Websites | You can find more information on Bitcoin Mining here: and here:

BBC News: Killing off cash: Could new tech mean the end of money?

Feb 15, 2013 Cash has been taking a beating lately.

Last week, Canada minted its last penny. Eurozone countries are working to restrict cash payments. Bitcoin is all the rage.

But like forecasts of flying cars, predictions of a cashless future have a history of failure.

This is in part because progress is incremental, and in part because physical money is a time-tested technology.

It's fast, widely accepted, anonymous and useful for old-school budgeting and when the power goes out.

Yet powerful forces are aligning against cash.

Together, they provide a glimpse of what a cashless or mostly cashless future might look like, and illuminate the promise of digital money, irrespective of whether cash is ever kaput or just increasingly marginalised.

Faster and cheaper

The battery against cash is coming from three fronts - new technologies, scepticism about the stewardship of sovereign currencies and increased enthusiasm for alternative currencies, and greater scrutiny about cash's myriad costs.

(Think anti-counterfeiting cops and armoured trucks, bank security, tax evasion, terrorists using 200-euro or $100 notes to buy explosives, and every cash-related crime ever.)

David Wolman Using an ATM or chequebook will be alien to many people, Mr Wolman says
Digital money innovations, particularly tools anchored to mobile phones, offer faster and cheaper ways to pay bills, buy and sell goods, send and receive money and make bank transactions.

Alternative currencies, meanwhile, are moving from the fringe to the centre, as more and more people worry about the long-term value of coin of the realm.

Angst about government currencies has traditionally sent people flocking to gold, and for many devotees of the shiny stuff, gold remains the one and forever answer.

But gold is not value incarnate. It's just another commodity, albeit a historically pivotal and impressively hefty one.

Those who grasp that fact, yet still distrust central bank-issued currencies, are turning to local and online options, barter exchanges, and the crypto-currency Bitcoin.

But the most consequential aspect of this monetary revolution is growing recognition that the costs of cash fall disproportionately on the poor.

When was the last time you saw a wealthy person patronise a cheque-cashing service, use Western Union or visit a payday lender (for an above-board transaction, I mean)?

Cash is expensive not merely because of the risk of being robbed at the cash machine or losing your savings to a fire, flood or abusive spouse.

It's also expensive because of steep prices paid in time, fees and opportunity costs. For you and me, those costs are, by and large, nominal.

But for the billions of people who subsist on $2 (£1.28) a day, they are anything but. - Read more here:

Here is a list of sites where you can get free bitcoins

You can find more information on Bitcoin Mining here:

Ed and Ethan's Bitcoin cast #6

Ed and Ethan's Bitcoin cast #6

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Silver & Gold World: Jon Matonis on Bitcoin and crypto-currencies

Subscribe to our newsletter at Episode 118: GoldMoney's Andy Duncan talks to Jon Matonis of the Bitcoin Foundation who is also a contributor to Forbes Magazine. They discuss Bitcoin's latest price spike and whether crypto-currencies are a credible alternative as a medium of exchange.

Though the price for Bitcoins has risen from $15 to $95 at the time of the podcast, Matonis does not think that it is a speculative bubble. With a fixed supply of Bitcoin and rising demand - in part due to fears related to Cyprus -- surging prices are only logical. As there is no futures market for bitcoins yet, there is no leverage, which makes Bitcoin also suitable for investment purposes.

They discuss whether Bitcoin could become a serious rival to precious metals when it comes to alternatives to national currencies. He points to the complimentary nature of physical bullion and Bitcoin. While Bitcoin has advantages in the digital world, nothing beats the security of tangible metal as it is not reliant on the existence of electricity and internet connectivity.

Matonis sees a bright future in crypto-currencies and especially values its possible impact on capital controls and taxes. For Bitcoin the important question will be whether it will be introduced by big merchants and whether governments will impose regulation against such acceptance.

This podcast was recorded on 28 March 2013.

Jon Matonis on Bitcoin and crypto-currencies

Man offers to sell house for Bitcoins

An Alberta man is hoping to become the first person to sell a house for bitcoins. He's asking CAD$405,000, or its equivalent in bitcoins, for the 3.6 acre site.

"We are hoping to be the first piece of real estate sold for bitcoins," Taylor More told us by e-mail. "We think maybe this could help push the currency more mainstream."

His listing describes the property as a "quaint two bedroom bungalow" that "sits on 3.6 acres with beautiful mountain views and 110' of breathtaking Crowsnest River frontage." It includes a 2,800 square foot workshop that More says is "perfect for the handyman hobbiest and also features two additional finished bedrooms."

"If you had $405k I wouldn't turn you down, but if a partial or whole transaction is done using Bitcoins the price can be reduced depending on how many bitcoins you have to trade."

At the current exchange rate of $60 per bitcoin, buying a $405,000 house would cost about 6,750 BTC.

The value of bitcoins has appreciated dramatically in recent years. In one of the first Bitcoin transactions ever recorded (which took place in May 2010) a man paid 10,000 BTC for two pizzas. If he'd saved those Bitcoins instead, he could have used them to buy More's house with almost $200,000 to spare.

Man offers to sell house for bitcoins - Three years ago, 10,000 BTC bought two pizzas. Now that can comfortably buy a house.

Here is a list of sites where you can get free bitcoins

You can find more information on Bitcoin Mining here:

Empowering Kenyan Communities Through Bitcoin

Bitcoin has created a tool that can unlock a global means of exchange from banks. It is an amazing achievement but has yet to reach those most effected by the flawed monetary system. The poor. But how can impoverished Kenyans without computers take part? The success and ubiquitous use of mobile phone banking in Kenya has opened the door to many types of financial innovation. By combining mobile phone banking and Bitcoin technology, we see a potential breakthrough in sustainable development.

Bitcoin will stimulate the local economy with a mobile phone exchangeable credit and savings system, which will allow local businesses to exchange goods and services without scarce national currency, expensive paper vouchers or the high tariffs currently encountered. This project offers a way to empower small business owners (of whom are over 90% women) to self-issue credit that stays circulating in their community. These small businesses owners are making on average less than 2 Euros in sales per day, 99% of which goes to feeding their families, and buying stock for the next day. This constant struggle is blocking their ability to save for school fees, medical expenses and improving their lives. By using Bitcoin technology to allow a credits to flow around the community, businesses can count on their ability to trade with one another even when the National Currency just can't be found. Read more here:

Here is a list of sites where you can get free bitcoins

You can find more information on Bitcoin Mining here:

Why Bitcoins Are Just Like Gold

Plenty of people still have a difficult time wrapping their heads around what bitcoin is or why it even has value, especially as the virtual cryptocurrency continues to scale record heights. How isn't this a Ponzi scheme, many have wondered?

A good way to look at it is to compare it to gold. What gives a shiny metal that doesn't have a whole lot of real utility--outside of jewelry and limited industrial use--any kind of real world value?

The only reason gold has value is because one day, way back when, long before recorded history, society simply decided that this yellowish precious metal should represent “money.” From that day forward--as that idea spread virally across the globe (or at least the small part of the planet then settled by

homo sapiens)--gold came to be worth something in the eyes of the people. As a representative (and thus store) of value, it became a universal intermediary between goods and services. This was the natural, inevitable economic evolution of the barter system. As it retained its value over time--and eventually throughout human history--gold gained cultural credibility. That’s the quick and easy answer.

Here is a list of sites where you can get free bitcoins

You can find more information on Bitcoin Mining here:

Thursday, March 28, 2013

Coming to this site: Lots of news articles about Bitcoin

Stay tuned and informed! Bookmark this page and share it. Next week there will be at least 10 articles published. I'm trying to publish as many articles as possible in the future. Check also new website: where is going to be lots of information about Bitcoin mining.

Here is a list of sites where you can get free bitcoins

You can find more information on Bitcoin Mining here:

Bitcoin – The Greatest Redistribution of wealth of our generation

Several redistributions of wealth have occurred in the past. Random inventions that stood the test of time for centuries such as the Printing press or Automobiles. However, not until the invention of Computers has the world seen so many redistributions occur in a span of 3 decades. Revolutionary software and open communication have changed the way we breathe.

Through the past year, speaking with entrepreneurs and involving myself as deep as learning to code, this has been the perfect start to my journey. Working with some brilliant minds in India to get Bitcoin adoption is at the forefront of our every move. I seldom write opinionated articles, but a lot of thoughts have gathered over the months leading to this piece.

I was 11 years old when a dear friend and mentor introduced me to something horrid called ‘UNIX’. Eccentric and brilliant, may his soul rest in peace. GUI was the bubble around that period of time. Everybody wanted a piece of GUI and having moved from a command prompt to a GUI based interface on my 386, UNIX to me was pure overkill. I do not advocate windows much anymore.

There were companies with odd names for the day being built around Linux/Unix such as Redhat, Suse, Mandriva, and several others who were making Linux prettier and more robust with every Open Source contribution. Few decades in, and Linux is banging on the doors of every windows devotee and successfully converting most of them through a free operating system.

Those companies with funny names became integrators and service Fortune 500 companies across the world today. They stand strong today as Linux continues its journey as one of the most powerful, yet easily shelled operating system.

They have triggered ecosystems in Education, economics, regulatory groups, and every other facet of life, accommodating millions each year.

This is a mere example of redistribution of wealth to create more wealth. Millions of people are employed as consultants in various sectors that require an educated hand to get into the core of their system. The people who employ these consultants invest their money in order to gain more money from people who use their services or products. The educators get paid as well and the authors get to sell new books. All this was enabled through technology and code.