New Banking Task Force to Study Digital Currencies

The Chairman of the US Senate’s Homeland Security & Governmental Affairs Committee (HSGAC) which investigated digital currencies in November has responded positively to the creation of a new state bankers’ task force to perform its own study into what sort of regulation is necessary.The new “Emerging Payments Task Force” comes from the Conference of State Bank Supervisors (CSBS), a national meeting group of regulators from all states “dedicated...

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Japanese Police Shut Down Protest at Mt. Gox

The small group of protestors outside Mt. Gox in Tokyo were moved on late yesterday by Japanese police, and warned not to return without a ‘demonstration license’.Organizer Kolin Burges said the police were called not by Mt. Gox, but one of the building’s other tenants who had reportedly had enough of the protestors’ week-long presence at the building.Mt. Gox management was also said to be irritated by the ongoing sit-in, claiming “security problems”...

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New Documents Show Goldman Sachs is Discussing Bitcoin

New York-based global investment banking giant Goldman Sachs has completed an initial assessment of digital currencies that concluded they are currently too volatile for serious investors.The news comes from noted online news source TechCrunch, which says it obtained a copy of an internal discussion document from a contact at Goldman Sachs.The excerpts posted by the media outlet provide evidence that Goldman Sachs is currently looking into the currency,...

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Wedbush Securities Signs on with Coinbase

Wedbush Securities Signs on with Coinbase:coinbase:Another day, another innovative use case for Bitcoin. We’re happy to announce that we’ve just partnered with Wedbush Securities, one of the nation’s leading financial services providers, to help them become the first U.S. institutional brokerage to accept bitcoin as payment for its research…Coinbase is doing a great job.I have added Coinbase to my page with links about Bitcoin.February 16, 2014 at 12:0...

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BitPay Updates Wallet for Smoother QR Code Payment Experience

Georgia-based bitcoin merchant processing provider BitPay has announced the launch of the Bitcoin Payment Protocol, a wallet update designed to eliminate the “human error in making a bitcoin payment”.In the official announcement, the company said the update would reduce friction at the point of sale by eliminating the need for consumers to copy the address and amount into their wallet. At checkout, users who scan a QR code or click to initiate payment...

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Mt. Gox Bitcoin Price Falls Below $100, its Lowest Level Since July

The price of bitcoin on Mt. Gox dropped below $100, hitting a low of $91.50 on 20th February.Data from Bitcoincharts indicates it was the lowest total observed on the exchange since 22nd July when the lowest price was $89.80.The announcement comes amid increasing criticism from the bitcoin community about the exchange and its questionable behavior that has included ignoring protestors, blaming the Bitcoin protocol for its implementation issues and...

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Gavin Andresen To Bitcoin Companies: Support Open Source

Lead developer Gavin Andresen chided the commercial bitcoin community for not getting involved enough in core bitcoin development and testing this week. In a mail to the bitcoin developers list updating the community on some bug fixes in the code, he called companies out for not giving back.The mail started out serenely enough, as a general update on what the team has done to fix some immediate transaction malleability issues in the reference version...

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Seeing Through the Smoke: A Look At the Good News for Bitcoin

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Tech Lab: Bitcoin ATM (Boston Globe) In this episode of Tech...

Tech Lab: Bitcoin ATM(Boston Globe) In this episode of Tech Lab, Hiawatha Bray talks about ‘Liberty Teller’ the new Bitcoin ATM at South Station.February 20, 2014 at 05:2...

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Live your investment

Several years ago some banks in my country suggested to take out a loan denominated in Swiss francs or Japanese Yen instead of our own currency – however at some point the exchange rate of those currencies didn’t perform as expected and many people were supposed to repay a real lot of money.Just like people borrowed a foreign currency in those years – while they’re actually using a different type of currency – some people bought a lot of Bitcoins expecting to make a lot of money without contributing in terms of products or services.Some technical...

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Ben Lawsky Demonstrates ‘Evolution’ on Bitcoin Issues in Reddit AMA

Ben Lawsky: Friend or Foe? It’s a question CoinDesk recently posed regarding the New York Department of Financial Services (NYDFS) superintendent, and one that is understandably concerning to the wider virtual currency community as New York state seeks to enact regulation in 2014.Speculation aside, on 20th February, the bitcoin community got its chance to seek an answer when Lawsky participated in a much-anticipated Ask Me Anything session on reddit.Here’s...

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‘Balanced’ Integrates Bitcoin Payments for 450+ Online Marketplaces

Balanced, a San Francisco-based company that provides a payment API for online marketplaces has today announced plans to integrate bitcoin into its system.The company’s co-founder and CEO Matin Tamizi told CoinDesk that its marketplaces will benefit, as Balanced takes the payments layer off their hands:“We create value by having one API and one platform to do that.”Continue reading at CoinDesk February 20, 2014 at 06:0...

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TigerDirect Offers $20 Discount for Bitcoin Shoppers

Of interest to bitcoiners needing PC components, TigerDirect has launched an interesting promo that should help save a few bucks.The company started accepting bitcoins last month, so it is perhaps no surprise that it is trying to drum up some trade.The ‘PC Parts Week’ discount applies to orders over $100 and it works only if you checkout with a digital wallet like BitPay. Users fitting the requirements will get $20 off their order. Continue reading...

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TigerDirect Offers $20 Discount for Bitcoin Shoppers

Of interest to bitcoiners needing PC components, TigerDirect has launched an interesting promo that should help save a few bucks.The company started accepting bitcoins last month, so it is perhaps no surprise that it is trying to drum up some trade.The ‘PC Parts Week’ discount applies to orders over $100 and it works only if you checkout with a digital wallet like BitPay. Users fitting the requirements will get $20 off their order. Continue reading...

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Bitcoin Price Hits $135 on Mt. Gox Following Office Move and Verification Demand

Updates and rumors related to Mt. Gox this week include: a possible company relocation, a requirement for users to hold verified accounts to withdraw bitcoins and a fall in Gox’s listed price of bitcoin.A user contacted CoinDesk to tell of the verification requirement this morning, saying it “suddenly appeared” on the site. There hasn’t been an announcement of any change on Mt. Gox’s website, however, and other sources said the condition had been...

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Hungarian Bitcoiners See Silver Lining in Central Bank Warning

The National Bank of Hungary issued a warning to its citizens about the potential dangers of virtual currencies on 19th February, calling the payment method “much riskier” than other electronic payment options such as credit cards.The central bank cited bitcoin specifically in its statements, which it said were meant to ensure current and future users had the proper knowledge before investing.Said the official release:Continue reading at CoinDesk...

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Bitcoin ATM Gets Surprise Launch in Biggest Boston Train Station

Though they missed becoming the first operational bitcoin ATM in the US by less than 24 hours, the entrepreneurs behind Liberty Teller caused quite a stir when they revealed that they would boot up their new Lamassu machine in Boston’s busy South Station on 19th February.The largest train station in the Boston metropolitan area, South Station holds 13 tracks and seven platforms as part of the city’s public subway system, and is the last stop for...

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Winklevoss Twins Launch Price Index for Bitcoin Named the ‘Winkdex’

The Winklevoss twins really do want to put their name into bitcoin – they have launched a blended bitcoin price index, the ‘Winkdex’ that they say reflects the true price of the virtual currency. The index will be used to price the assets in the brothers’ forthcoming bitcoin trust.The Winkdex will be offered by Math-based Asset Index LLC, a company operated by the Winklevosses. It was announced today in the brothers’ latest filing with the SEC, an...

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Entrepreneur Interest in Bitcoin Projects Hit New High in January

February has seen the release of new information that suggests venture capital (VC) firms remain enamoured with bitcoin and its long-term potential.But, while it makes sense for larger VC firms to stay resilient in the face of bitcoin’s more recent struggles, new data suggests interest in the virtual currency and its technology is just as high among generally more risk-averse small investors and startups.Online graphic design specialist 99designs,...

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What is Bitcoin and How Does it Work? | Ron Louch Inciteful...

What is Bitcoin and How Does it Work? | Ron Louch Inciteful footage from http://Poptics.TV explains what Bitcoin is and how it works in layman’s terms and Spy vs Spy metaphors. Don’t listen to the hype. Everyone has an agenda when it comes to media coverage of Bitcoin. This includes MtGox, the Feds, the banking and financial sector, competing coins and software coders with Blogs.February 19, 2014 at 03:4...

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Coinkite To Offer Secure Storage For Bitcoin Companies

Bitcoin debit card provider Coinkite has expanded its mission – it now wants to be the go-to provider for bitcoin companies needing safe private key storage.The company, which shipped the first point of sale systems for its bitcoin debit cards early this year, is preparing to launch an API this summer, which will enable companies to store their bitcoins on its custom-built hardware storage modules (HSMs).“With this API you’d have deposit and withdrawal...

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Bitcoin Foundation Opens Nominations for Empty Board of Directors Seat

The Bitcoin Foundation has announced that it is now accepting nominations for a new board member to fill the open spot left vacant since the arrest of former BitInstant CEO Charlie Shrem this January.The organization broke the news via blog post on 18th February, setting a 7th April deadline for nominations.Voting will be held on 21st April, with multiple voting rounds set to occur if there are a large number of nominees.Continue reading at CoinDesk...

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Canadian Bank Cuts Cointrader Accounts Amid Hostile Government Rhetoric

Bank of Montreal, the fourth-largest bank in Canada, has closed all Cointrader customer and corporate accounts, the Vancouver-based exchange revealed via blog post on 17th February.Most notably, Cointrader suggested that the decision is part of a broader move by Bank of Montreal to sever ties with all of the virtual currency businesses it serves.Cointrader CTO and co-founder Paul Szczesny said such a move would have a broad impact on the country’s...

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Ben Lawsky: Friend or Foe?

It would be generous to say that Benjamin Lawsky, superintendent of the New York Department of Financial Services (NYDFS), is viewed by the bitcoin community with some skepticism.The man who has championed ‘BitLicenses’ – bitcoin-specific versions of money transmitter licenses for New York State – has developed a reputation within the fledgling industry as someone who is, at best, ‘not bad’.Yet, for a regulator navigating the waters of an industry with libertarian and anarcho-capitalist zealots at its core, that borders on near god-like status.While...

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DIY Dogecoin ATM Demos at CoinFest Vancouver

The world’s first dogecoin ATM has been launched in Vancouver, and it looks about as serious as the dogecoin logo.The machine consists of a Nexus 7 tablet attatched to a briefcase, along with a money validator.Needless to say, this isn’t exactly a bona fide ATM and nor is it supposed to be. It was created to spice up the two-day CoinFest digital currency festival in Vancouver.Continue reading at CoinDesk February 18, 2014 at 03:3...

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First US Bitcoin ATMs Coming to Seattle and Austin

Seattle and Austin will soon become the first US cities with bitcoin ATMs, provided everything goes according to plan.The machines are coming from ATM manufacturer Robocoin and the company claims they will be installed by the end of the month, Reuters reports.Robocoin ATMs are more elaborate than their Lamassu counterparts. They are cash-only machines and they have a few additional security features, such as biometric and optical scanners.Continue...

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The Rise of the Cryptocurrency Gift Economy

In 2013, the digital anthropologist Lui Smyth conducted a survey of the most common uses of bitcoin.He found bitcoin was used to buy web services, software, hardware, gambling services, and (in the heyday of the Silk Road) narcotics. Topping the list though, when measured in terms of the number of transactions, was tipping and donations.The public block chain provides much anecdotal evidence for this. All one needs to do is search the tipping addresses...

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The Banking Industry’s Varied Views on Bitcoin

Decentralized, math-based currencies can provide a framework for autonomous banking. To the average person that may not mean much, but to some the concept is enthralling.Controlling money outside of incumbent systems is particularly exciting to cyberpunks and crypto-libertarians, yet the banks will, at some point, be working closely with bitcoin. A future where cryptocurrencies are a mainstream financial technology will likely depend on it.Here are...

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Coinbase Partners with Fiverr, First Large Services Marketplace to Accept Bitcoin

Coinbase Partners with Fiverr, First Large Services Marketplace to Accept Bitcoin:coinbase:Looking for some help updating your resume? Need a video promoting your product? Or maybe you’d like someone to write and record your own personal rap song? Starting today, these types of services can be purchased with bitcoin via Coinbase on Fiverr, the world’s largest two-sided marketplace for…February 11, 2014 at 09:0...

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The Ten People You Meet In Bitcoin

(Forgot to post my first CoinDesk piece last week. Here it is!) Last month, over 600 people congregated in Las Vegas for the Inside Bitcoins conference, including yours truly. The critical mass of Bitcoin pioneers and thought leaders was stunning, and I wrote about the top 10 movers and shakers I had the chance to meet in person. This past weekend, nearly twice as many people attended the North American Bitcoin Conference in Miami, and I was equally impressed by the enthusiasm, creativity, and yes, diversity of the crowd. As I flew back to Boston,...

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Reggie Middleton Wins CNBC Stock Draft for the 2nd time in a row - with the same stock

xmlns:fb="http://ift.tt/zbanWc">Google reported Thursday later afternoon and the early morning traders didn't know what to make of the numbers - with the stock gyrating up and down. The following day, CNBC's 2nd annual stock draft stock picking contest ended. Guess what happened? For the impatient, I can put the video here...{youtube}r40QFDwXZ-Y{/youtube}February 01, 2014 at 04:1...

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Reggie Middleton v Paul Krugman pt 2, Inflation, Bitcoin and the Alt.coins

xmlns:fb="http://ift.tt/zbanWc">Here is the next segment in the presentations given at the North American Bitcoin Conference in Miami Beach.{youtube}UC4J1fWt2io&list{/youtube}January 29, 2014 at 02:4...

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New York considers creating a 'BitLicense' for Bitcoin businesses

New York is now the first state to consider adding a special license called a “BitLicense” for businesses that operate primarily in Bitcoin and other virtual currencies, after receiving a flood of requests from Bitcoin entrepreneurs asking how they should register.Read more on The Verge (thisistheverge.tumblr.com) By Adrianne Jeffries January 28, 2014 at 05:4...

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About Inscrypto

Who is Ryan Galt, Idiots?Yesterday, I wrote about my exciting partnership with CoinDesk, which was supposed to start on Monday. However, it looks like you’ll get your first taste of “Ryan Galt” even sooner. My first CoinDesk articles may hit this weekend, as I made the last minute decision to head down to Miami for the North American Bitcoin conference. The editors and I agreed that it would be better for me to write under the new name for pieces on CoinDesk’s site so readers aren’t immediately skeptical when they open one of my posts. (I’ll remain...

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Highlight of the Week: North American Bitcoin Conference!

On Friday through Sunday of this week, many Bitcoiners will gather in Miami, Florida for the North American Bitcoin Conference. Following the successful organization of the European Bitcoin Conference in Amsterdam this Fall, conference organizer, Moe Levin, concentrated his efforts on a winter international Bitcoin conference in the heart of Miami Beach, FL. With attendees and speakers from around the world, once again, the global message of Bitcoin...

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Bitcoin and Modern Money Theory

Happy Presidents’ Day, Idiots!I was going to skip the Bit today as it’s a bank holiday, but then I remembered: Bitcoin doesn’t operate on a banking schedule.I’ve spent the long weekend reading up on Modern Money Theory (riveting, I know), and I’m trying to see where Bitcoin fits into the whole thing. I have a bunch of ideas that I’m still trying to organize.The short summary of MMT, though, is that it stipulates all money must be issued from a sovereign nation and that it must be debt. Logically, all money must be some form of government debt.Yet...

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CoinTerra to Release GSX I Water-Cooled PCIe Bitcoin Mining Card

Austin, Texas-based CoinTerra has announced its second product.Called the GSX I, the card form factor bitcoin miner uses water for cooling, and notably, has a radiator serving as a heat exchange for the water, piping it over the board. The GSX I is a 400 GH/s unit that has a 28nm chip.Jim O’Connor, vice president of engineering for CoinTerra, spoke to CoinDesk about the upcoming launch, and said he believes using water is the best method of cooling...

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First Bitcoin meetup in Ecuador a big success

About 30 people attended the first-ever Bitcoin meetup in Quito, Ecuador on Thursday, February 6th. The meetup was organized by Dutch alternative money promoter Paul Buitink (@paulbuitink), currently residing in Quito, and American IT entrepreneur Justin Leitgeb (@justinleitgeb), who made available the Quito office of his company, Stack Builders, who specialises in Ruby and Haskell software development. Argentinean Diego Gutierrez Zaldivar, who...

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Ukraine to Regulate Bitcoin Businesses Under Existing Laws

In response to queries from Ukraine-based news source AIN.UA, the National Bank of Ukraine (NBU) has issued its first formal legal guidance to its native bitcoin community.Most notably, the NBU has indicated that bitcoin payment systems and payment infrastructure services must register with the agency and abide by existing laws related to the management of electronic money.The announcement positions Ukraine closer to the European Union than Russia...

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Conan O'Brien tweets

Wow. Strippers get angry if you make it rain Bitcoins.— Conan O’Brien (@ConanOBrien)February 17, 2014 February 17, 2014 at 05:1...

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ATM Pioneer Plans Machines for Singapore, London

The company behind the world’s first bitcoin ATM is planning to set up machines in London and Singapore by mid-March.Vancouver-based Bitcoiniacs, said the new machines are part of a global expansion that will also include setting up physical brokerage offices for retail customers and a push to increase use of its own bitcoin exchange.Bitcoiniacs founder Mitchell Demeter said the ATMs would likely be located inside a cafe or coffee shop, with a brokerage...

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Bay Area’s Leading Poverty-Fighters Recently Accepted Their First Bitcoin

The Bay Area’s leading poverty-fighting organization recently accepted its first Bitcoin donation. Bart and Brad Stephens of Stephens Investment Management donated 20 bitcoins to Tipping Point Community on February 6.“Bitcoin is a disruptive innovation in the field of financial technology,” Bart Stephens said. “Tipping Point is an innovator and a disruptive force in philanthropy. We have supported Tipping Point since its inception and we are excited...

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Can a Wearable Bitcoin Wallet Bring Cryptocurrency Into Meatspace?

Paying in Bitcoin already offers tons of advantages over credit cards. It’s by-default more secure, and on the internet at least, faster and easier. However, paying with bitcoin IRL has until now been pretty clunky, generally involving scanning multiple QR codes, signing and approving. All that may change, however, with the introduction of technology aimed at simplifying paying with Bitcoin at the point of sale. BIPS has made this possible by using...

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Mt. Gox: Bitcoin Withdrawals Will Resume Soon

Mt. Gox has issued an official statement saying it has found a workaround for its bitcoin transaction malleability problems, which will see bitcoin withdrawals resume “soon”. This comes after the team worked over the weekend to begin implementation of a new transaction system.It said the workaround was “thanks to our friends at Blockchain.info“. As expected, when withdrawals recommence they will do so “at a moderated pace and with new daily/monthly...

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Mt. Gox Impact Diminishes as Market Price Dissociates

The last week has been a tumultuous period for digital currency markets, driving prices on the industry’s oldest exchange into a tailspin. While volatility is nothing new for bitcoin, a drastic divergence from historic norms has arisen: Mt. Gox has largely dissociated from the rest of the market, offering insight into the market’s perception of risk in dealing with the company. Since Mt. Gox suspended fiat withdrawals last summer the market has come...

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