Log inRegister

Coin News

coindesk-bpi-chart (3)
The price of bitcoin continued its upward trend on the CoinDesk USD Bitcoin Price Index (BPI) today (15th April), rising roughly 9% to top $500.As of press time, the price had increased roughly $43 over the course of the day, climbing from a low of $452.17 to a high of $514.72.The recent recovery, sparked by 11th April comments from People’s Bank of China (PBOC) governor Zhou Xiaochuan, continued as the rumored 15th April deadline allegedly imposed by the central bank came and went without any additional account closures or adverse actions taken against major exchanges.In recent weeks, a number of China-based exchanges began reporting that their banking providers had received notice that the PBOC would be more tightly enforcing guidance meant to better separate the country’s state-backed financial system from the nascent bitcoin industry.In response to this perceived threat, account closures were reported at BTCTrade, BTC100 and Huobi, among other exchanges.The price hit a recent low of $380 on 11th April, but has been trending upward since that date following Xiaochuan’s confirmation that the PBOC did not intend to ban bitcoin.China market sees similar recoveryThe price of bitcoin on the CoinDesk CNY BPI was also up roughly 9% for the day, rising ¥277.61 at press time to reach ¥3,158.38.This figure was up from the opening price of ¥2,880.77, but down slightly from a high of ¥3,173.48 observed earlier in the day.coindesk-bpi-chart (2)The CoinDesk CNY BPI incorporates prices at major China-based exchanges BTC China and OKCoin.Confidence rises in ChinaSince much of the decline was spurred by fears related to regulation in China, the lack of action by the PBOC is likely to be the primary motivator for the price increase.The potential change in policy was first reported by China-based financial news site Caixin in March, however, to date, no documents have surfaced to confirm that the PBOC was looking to take such action.Major China-based exchanges such as Huobi and OKCoin, however, were exploring any and all possibilities should the PBOC take some action against their services, even openly suggesting that they were making preparations to move operations overseas if necessary.However, it should be noted that the PBOC has yet to confirm or deny any additional actions against exchanges, meaning it is unknown exactly what the future may hold for the country’s bitcoin businesses.Images by CoinDeskChinaPBOCprices
Original author: Pete Rizzo

dogecoin
Los Angeles-based digital currency exchange CoinMKT has launched an API to provide advanced access to its platform.The company offers trading between 10 different digital currencies and USD – and that now also includes dogecoin.Travis Skweres, the CEO of CoinMKT, told CoinDesk that the API is a step towards getting professional traders and hedge funds using the exchange.Explained Skweres:“There’s a huge need for institutional trading. Our long-term strategy is companies and institutional traders.”APISkweres said that up to this point CoinMKT had been mostly a retail operation focused on individual customers. Now, the exchange’s API brings new functions to the platform such as programming trade engines. The company's main trading screen. Source: CoinMKTThe company’s main trading screen. Source: CoinMKTBeing a US-based exchange means that the company’s API offers a first-mover opportunity.Skweres said:“I don’t mind if CoinMKT is the invisible exchange house. That doesn’t matter to me. I’ll be invisible and exchange everything.”A number of companies exist in the more institutional space that CoinMKT is attempting to break into with its API. New York-based Coinsetter is a trading platform with access to Bitstamp for professional investors that want to move in and out of the bitcoin market.Palo Alto-based Vaurum is another example of a company that wants to fill a need that exists for investors and traders. Vaurum plans to offer an exchange that can plug into more established trading platforms.DogecoinCoinMKT also recently added dogecoin to its exchange, which brings its total trading pairs to USD up to 10. In addition to bitcoin, altcoins of note on the exchange include litecoin, feathercoin and namecoin.While dogecoin is generally used for tipping purposes, there aren’t many avenues for digital currency investors to obtain doge with USD like they can on CoinMKT.Skweres said: “Most of the altcoin trading is still to bitcoin, it’s not to the dollar. There is not a massive market for doge to dollars.” DOGE/USD trading on the company's exchange. Source: CoinMKTDOGE/USD trading on the company’s exchange. Source: CoinMKTEven so, he said that he believes dogecoin offers something new and innovative. He thinks the decision to allow doge to continue to generate new coins to reward miners is a decision that will propel the altcoin to future success:“Doge wasn’t really innovative until they added the inflationary aspect, which is awesome. So, now I think actually doge is a serious alternative.”Dogecoin’s use as an online tipping mechanism is also a strong suit, said Skweres:“It has such a strong community it might accidentally become the amazing currency of the internet.”CommissionsCoinMKT has decided to decrease its fees in order to entice users to trade, lowering commission fees to 0.3%. The company said that market makers will now receive a 0.05%. rebate.Exchanges such as itBit and BTC China have also lowered fees recently. Skweres said that the effects of Mt. Gox are one reason why.“We’re finally seeing how bad Mt. Gox really hurt everybody. The other exchanges, including us, we benefitted in the short term from getting an influx of signups.”Despite the increase in registrations, it was only a brief rush, according to Skweres, who’s concerned about bitcoin’s ability to break through to the masses given the number of negative headlines that have been linked to decentralized money:“It really hurt perception. Mainstream adoption has slowed down a little bit.” Even so, CoinMKT’s strategy of developing an exchange for many different digital currencies will not change. “I’m still bullish on altcoins because I think we’re so early in the game,” said Skweres.Detailed information about CoinMKT’s API is available on the company’s website.Image via DogecoinAPIcoinmktdogecointrad
Original author: Daniel Cawrey

bitcoin2014venue
Bitcoin 2014, a European conference held in association with the Bitcoin Foundation, has released a schedule of planned events on its website.The conference will be held from 15-17th May at Passenger Terminal Amsterdam in the Netherlands. Patrick Byrne, CEO of Overstock and the largest retailer to currently accept bitcoin, was previously announced as a keynote speaker.Additional speakers will include Circle CEO Jeremy Allaire, BTC China CEO Bobby Lee and Bitcoin Foundation Chief Scientist and former lead developer Gavin Andresen.Based on the schedule, discussions at the event will center on bitcoin regulation, as well as its opportunities and international implications.The conference will begin with a welcome reception on 15th May at 6PM local time.HighlightsThe schedule for Bitcoin 2014 is divided into four distinct categories: “The Digital Economy”, “Bitcoin Technology: Present and Future”, “Rules of the Game: The Legal Landscape” and “Enterprising in the Digital Age: Merchant and Consumer Services”.Andresen will present his Annual State of Bitcoin Address on the first day of the event.Other day-one sessions of note include a panel on bitcoin wallets featuring CoinDesk’s Kadhim Shubber, Blockchain.info’s Nicolas Cary, Kipochi founder Pelle Braendgaard, Elliptic co-founder Tom Robinson and Xapo CEO Wences Casares.The second day of Bitcoin 2014 will kick off with Bobby Lee hosting a session on bitcoin in Asia.Other interesting items on the day two schedule include a panel on bitcoin’s upcoming technical challenges featuring Armory’s Alan Reiner, Buttonwood SF founder John Light, Circle CTO Sean Neville and BitPay CTO Stephen Pair.The final day will also include an annual meeting for the Bitcoin Foundation’s members. Information on joining the Bitcoin Foundation can be found on its website.About Bitcoin 2014The conference is a follow-up to last year’s inaugural Bitcoin 2013 in San Jose, California.The Foundation has been seeking to expand its international scope, and hosting a European conference is just one of the steps it has taken. Late last year, it accepted two international affiliates when both Bitcoin Foundation Canada and the Bitcoin Association of Australia were added as chapters through the Foundation’s International Affiliate Program.Last year’s San Jose conference attracted 1,000 attendees and featured bitcoin investors Cameron and Tyler Winklevoss as keynote speakers.Registration is still open at bitcoin2014.com and costs €395 - the equivalent in bitcoin is also accepted as payment for the event.Passenger Terminal Amsterdam image via WikipediaBitcoin 2014Bitcoin FoundationBobby LeeBTC ChinaCircleGavin AndresenOverstockPatrick Byrne
Original author: Daniel Cawrey

mt. gox, law
Mark Karpeles, CEO of bankrupt Japan-based bitcoin exchange Mt. Gox, has filed an emergency motion stating that he needs more time before choosing whether to appear for formal questioning in the US.The development finds Karpeles attempting to push back this decision until 5th May so that his legal team can “get up to speed” on a recent subpoena issued by the US Treasury department.While a seemingly small filing, the Mt. Gox case could change dramatically depending on whether Karpeles agrees to be deposed in the US. That’s because US Bankruptcy Judge Stacey Jernigan ordered Karpeles to submit to questioning on 2nd April, and threatened to remove key bankruptcy protections granted to Mt. Gox KK, the company’s Japanese entity, should he not do so.According to Steve Woodrow, a partner at Edelson law firm, the agency overseeing the US class action against Mt. Gox his team would be able to step up its fact-finding efforts if that protection be lifted.Said Woodrow:“In the event that the stay will be lifted, we will proceed to the Northern District of Illinois and we’ll ask that the expedited discovery and asset freeze that has been implemented for non-debtors be extended to Mt. Gox KK as well.”Whether this comes to pass may be determined tomorrow, following what Woodrow called “an emergency hearing” related to Karpeles’ recent filing to be held at 14:30 GMT in Dallas, Texas.Increased discovery effortsAs of now, Woodrow indicates that his legal team has only been able to conduct research related to Mt. Gox Inc., the company’s US entity, Tibanne KK and Mark Karpeles personally, limiting their ability to build a case against the insolvent exchange.Should restrictions be lifted, this could open up efforts to learn more about Mt. Gox’s discovery of an old-format bitcoin wallet on 21st March containing 200,000 BTC, for example, among other things.At the time, Woodrow’s partner Chris Dore suggested that the finding was one that was not only “highly suspect“, but that “made it harder” for information to be obtained about the funds.Possible action in USIn the filing, Karpeles insinuated that he may not be able to make the trip due to obligations stemming from a subpoena issued by the US Treasury Department. This message, sent on 11th April, allegedly did not specify the topics of discussion.On popular theory about the nature of the subpoena is that US authorities intend to charge Karpeles with criminal wrongdoing and to take him into custody at this time, providing Karpeles with a powerful incentive not visit the US.However, Woodrow indicated that is unlikely that Judge Jernigan would allow the protection to continue should Karpeles not appear for deposition before the court.When asked about this possibility, Woodrow remarked:“We certainly hope not, that’s having your cake and eating it, too. [...] If he violates the order, my hope is that they would withdraw any sort of provisional relief.”He added: “But we’ll what happens tomorrow.”Image credit: Attorney reading via Shutterstockclass actionlawMark KarpelesMt. Gox
Original author: Pete Rizzo

alpha-viper-power-board
Alpha Technology has a new development update and its Viper scrypt board seems to be making headway.The British ASIC maker said it has completed the schematics for the ATX power distribution board and of the AC power metering board. Those of the actual ASIC board are not complete yet, but Alpha said it is “almost” done. In addition, the company has finalised the design of the enclosure and WebGUI user interface.ASIC tape-out initiatedAlpha said it is currently in the process of initiating tape-out at GlobalFoundries. The chip design has been finalised and sent to the foundry for fabrication. According to the latest update, the team managed to reduce power consumption to just 9W per chip.Alpha Technology CEO Mohammed Akram recently told CoinDesk that the biggest challenge faced by the engineering team is power efficiency, and that the latest updates appear to be focused on power supply and distribution. Alpha optimised the ASIC design with the aid of GlobalFoundries aid in an effort to reduce power consumption – a process that reduced the ASIC clock but increased performance.The tape-out was originally scheduled for late March.Real world performance and efficiencyAlpha Technology revised its spec and bumped up the hash rate for its scrypt miners last month. The company was supposed to launch two units: a 5MH/s miner and a 25MH/s miner, but now, it said, the miners will deliver 16MH/s and 90MH/s respectively.KnCMiner is also entering the scrypt space with the Titan, a 250MH/s miner priced at $9,995. Alpha plans to sell its 25MH/s miner for $2,200, while the 90MH/s unit should cost $9,000.The Titan will operate with an 800W-1000W power supply unit, KnCMiner said. Alpha originally expected to deliver 10W per 1MH/s, but it believes it can do better, so its 90MH/s miner should consume about 750W.In any case, the advent of powerful and immensely efficient scrypt ASICs is not good news for GPU miners, as the ASICs will render GPU-based miners uncompetitive in the scrypt arena. GPUs will still be capable of mining certain types of altcoins based on alternative ASIC-proof algorithms, but the market for these altcoins remains limited.Disclaimer: This article should not be viewed as an endorsement of any of the companies mentioned. Please do your own extensive research before considering investing any funds in these products.Alpha TechnologyASICskncminerScrypt miningTitanViper
Original author: Nermin Hajdarbegovic

mobileappbtc
A new iOS app called Sumtu wants to change the way dating is done in the digital realm. But most interesting is the context in which it was created: Gregor Amon, whose company Simply Travel accepts bitcoin, used the proceeds from the digital currency’s ascent into the $1,000 range to fund Sumtu. He said:“Sumtu is 100% bitcoin financed.”The bitcoin angleLast year, Amon looked at bitcoin as an option for his travel business. “Bitcoin was already interesting to me in those days,” he said.He reached out to Austin and Beccy Craig, the Utah couple that not only lived on bitcoin for 90 days, but also traveled – no easy feat.Upon hearing about the couple’s plans, Amon offered to provide a travel agency service that would accept bitcoin to facilitate flights and hotels to be paid in the cryptocurrency.“When we got them, they were about $100 each,” said Amon late last September, when the price was not increasing by much. “I thought, at least they are not decreasing.” Bitcoin at the end of 2013. Source: CoinDesk BPIBitcoin at the end of 2013. Source: CoinDesk BPIThe price of bitcoin skyrocketed in 2013 to a high of $1,147.25 in early December.Funding the appAmon had the foresight to seize the rising price of bitcoin as an opportunity. He said it seemed like a perfect convergence of events at the time:“Bitcoin was up to $1,000. I thought it was a good time to finance the dating app … We just used our bitcoin because of the raise in value and just had enough money to get Sumtu up and running.”He paid a lawyer in bitcoins to develop written privacy policies for the app, but had trouble finding developers he could pay in bitcoin – that might have been fortunate considering the current price of bitcoin.Amon said he sold a good number of coins in the $900-$1,000 range. The price has dropped considerably since that time. Bitcoin's rise and fall from 2013 to 2014. Source: CoinDesk BPIBitcoin’s rise and fall from 2013 to 2014. Source: CoinDesk BPIWhat is Sumtu?Sumtu uses Apple’s iBeacon to apply Bluetooth Low Energy to proximity by broadcasting out a unique identifier.People mostly meet significant others among friends, coworkers and business partners, Amon noted. The Sumtu app helps people find potential mates in social settings. The idea sprung from the notion that most dating apps are designed to match strangers people would probably never meet otherwise. Amon said:“That’s where the idea evolved: you take away the fear of public rejection by this double blind matching tool. But you are matching somebody you already know,” he said.Bitcoin-funded ideasCryptocurrencies are used more and more to fund startups. The Boost Bitcoin Fund, which was used to accelerate seven bitcoin startups last summer in Silicon Valley, held 25% of its value in bitcoin and the rest in cash.Hive, a user-friendly bitcoin wallet was also bitocin-funded. The company took investment from Seedcoin and as well Roger Ver, an early bitcoin investor. All-time bitcoin price chart. Source: CoinDesk BPIAll-time bitcoin price chart. Source: CoinDesk BPIAs with other entrepreneurs that have capitalized on the success of a cryptocurrency, bitcoin helped Anon realise what was just an idea for him. Now comes the hard part: getting users to adopt the Sumtu app.Sumtu is now available in the Apple App Store. The Android version is set to follow at the end of this month.Mobile app image via ShutterstockHiveSeedcoinStartups
Original author: Daniel Cawrey

CoinTerra TerraMiner IV
Texas-based mining hardware manufacturer CoinTerra has managed to ship its 5,000th TerraMiner just ten weeks after launching full-scale production. The hardware manufacturer shipped the 1,000th unit in late February. At the time, CoinTerra said its kit powered 6% of the bitcoin network.However, with 4,000 additional TerraMiner units in the wild, the company’s hardware now accounts for more than 15% of the entire network, or roughly 8 petahash of power.The company shipped its first TerraMiner in late January – claiming that further batches of TerraMiner IV rigs were on schedule.March orders were fulfilled and the company now says it has shipped the April batch of orders to customers ahead of schedule. CoinTerra is now selling its new miners from stock.Discounted miners straight from stockRavi Iyengar, CEO of CoinTerra, said:“Deploying eight petahash to the bitcoin network in just ten weeks is an unprecedented achievement. As well as thanking the CoinTerra team, now that we are shipping from stock I wanted to give a big thank you to the entire bitcoin community by offering the TerraMiner IV on sale for a limited time at a very special price.”So what sort of discount does Iyengar have in mind? The company is marking the occasion by slashing the price of TerraMiner IV units to $4,799, a discount of 20%, or $1,200.In turn, the miners are already in stock, so they’ll ship in a day or two once an order is placed. To redeem the 20% discount users simply need to use the coupon code ‘TMIV5K’ at the CoinTerra web shop.CoinTerra boasts price-per-gigahash leadCoinTerra maintains that it still enjoys the value-for-money lead in the mining space. It claims to offer an “unbeatable price-per-gigahash” and the 20% discount helps, too.There is another freebie coming to a lucky miner who decides to take advantage of the sale. CoinTerra’s CTO Dr Timo Hanke says he will select a lucky customer from the sale who will receive an additional TerraMiner free of charge. The miner will be autographed by the CoinTerra team, for an added personal touch.Who knows, it may end up being a collectible a few years from now.ASICsCointerramining rigsTerraMiner IV
Original author: Nermin Hajdarbegovic

chad johnson, NFL
National Football League (NFL) veteran and former star of the VH1 dating show ‘Ochocinco: The Ultimate Catch’, Chad Johnson, is currently exploring bitcoin.The six-time Pro Bowler took to Twitter on 14th April, writing that he had first heard about bitcoin through a discussion with a friend, and that he was eager to learn more.Discussing the concept of @Bitcoin with a friend. Can y’all show me how easy it is? #Bitcoin pic.twitter.com/blS4OVPe37— Chad Johnson (@ochocinco) April 14, 2014Johnson, 36, spent the majority of his professional career with the Cincinnati Bengals, though he later had brief stints with the New England Patriots and the Miami Dolphins.Though Johnson put up respectable numbers during his early career, he became more well known for his off-the-field antics in the late 2000s, notably changing his legal name to Chad Ochocinco in 2008 and then back to Johnson in 2012.Johnson is expected to work out for the Canadian Football League’s Montreal Alouettes next week. He has been out of professional football since he was released by the Miami Dolphins in 2012.Community reactionAt press time, the tweet had garnered a respectable response on Twitter, earning 31 retweets and 32 favorites.However, Johnson did receive some misinformation as well, with one user suggesting that bitcoin is not yet taxable.Other comments directed Johnson to popular tutorial videos and resources, while one user even went so far as to send the NFL star a small amount of bitcoin through the QR code he provided.@ochocinco just sent you a few fractions of a penny’s worth lol but you should get the idea— Rhymes With Brice (@BeeNyce) April 14, 2014At press time, Johnson had only garnered around 0.001 BTC, or roughly 50 cents, in contributions.NFL interest growsJohnson is not the first NFL player to talk openly about bitcoin.For example, earlier this February, Seattle Seahawks star cornerback Richard Sherman began accepting bitcoin for purchases on his personal website. Sherman and the Seahawks would later win Super Bowl XLVIII, handily defeating Payton Manning and the Denver Broncos 43 to 8.“I hear it’s the currency of the future,” Sherman wrote in a Facebook post that quickly drew the attention of bitcoin users and American football fanatics.That news followed the announcement that the Sacramento Kings NBA franchise would accept the digital currency, becoming the first professional sports team to do so.Most recently, the San Jose Earthquakes professional soccer team followed suit by embracing bitcoin as a payment method as well.Image via WikipediaCelebritylifestyleSport
Original author: Pete Rizzo
  1. PBOC Deadline Day: Business as Usual for BTC China
  2. New Bitcoin POS ‘Coin of Sale’ Garners Global Attention
  3. Neo & Bee CEO Breaks Silence on Alleged Bitcoin Fraud
  4. TigerDirect Canada Teases Bitcoin Adoption

Page 1636 of 1653