Mycelium: The Definitive Android Wallet

Actually, in a society based in the instantaneity and movability of information, the adoption of a technology depends, totally, on its capacity of adaptation at this exigencies.

One of the most important strategies for best Bitcoin adoption is the smartphone wallets that give to people and business the possibility of making a transaction anywhere with an accessible and popular technology: basically, an app and a smartphone; this is more similar to pocket change than the credit card (that you can only use with specific technology not accesible for all and in any place). And this isn’t happening only in the first world; nations in Africa or Asia have extensive examples of smartphone uses like Kenya or Tanzania, where mobile payments systems have millions of subscribers.

You can choose between different android bitcoin wallets such as, for example, Coinbase (50-100k users), Blockchain.info (50-100k users) based in different levels of cloud-storage of your private keys, and Bitcoin Wallet (100-500k users) or Mycelium (20k users) for local-storage of the private keys.

KnC Wallet (5-10k users), launched by the famous KnCMiner company, which is another of the recent wallet apps that we can choose from, is only a clone with steroids of Bitcoinwallet that allows you, besides original software features, to send bitcoins to any person in your address book long as that person has installed this wallet too. And the app is distributing some satoshis to any person that installs the app.

The most booming app at present, and with more interesting features, is Mycelium, a semi-opensource android wallet that provides a powerful gateway to the bitcoin network with quick broadcasts throughout their servers. We’re speaking with Andreas Petersson, one of the two full-time developers together with Jan Moller, who has been telling us everything about the project.

According to Petersson their software “is unique because it combines simplicity of use and speed with full power to the end user because he keeps his private keys”.

For months, since I bought my first bitcoin in early 2013, I was a Blockchain.info user but, looking for more security and empowerment of my money I started looking for a better app. Then I found Mycelium; it seemed to have everything that I needed: a simple, secure and useful bitcoin wallet.

I can say that my experience is positive all of this time of using because the app simplifies all the things that, before, I had to do with different apps; as for example, generate paper wallets with encryption or fast and secure cold-storage payments, all with syncing in a fraction of a second.

Of course, for now a perfect and totally secure android wallet doesn’t exist, because without encryption, we’ve always had the problem that malware with root access can read our private keys. For this reason, for me, secure cold-storage payments seems a good way to spend at this moment. This system can read a private key of a paper wallet every time that we want to make a payment and after that the private key is removed.

But, definitely, one of the most interesting features that an android wallet has is Local Trading and, surely soon, Bitcoin nodes.

With the first feature, Local trading, we can sell and buy bitcoins inside the App with a low fee of 0.2% per trade with a system similar to Localbitcoin. The mycelium system allows contacting two people to buy and sell bitcoin with an encrypted message system.

With this feature you can know, with GPS, who is trading bitcoins in your area and start the transaction in a secure platform.

The last feature, that for the moment is only a proposal, is Bitcoin nodes, allowing Mycelium users to know what businesses accept Bitcoin and where ATMs are around there using an OpenStreetMap layer.

If you want try newer features you can also participate in the Mycelium Beta program in their Google+ community.

Definitely I think that smartphones and weareables will be the axis where we should focus our attention. People want to use money in the street, at the shop, in a party, with friends or with strangers but always as smoothly as they do with physical coins or a bank app. Developing a sterling android wallet and expanding its features maybe would be the key for expanding our favourite currency.

May 10, 2014 at 12:26AM



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Video: Roundup of This Week’s Bitcoin News 9th May 2014

Some good news from America, and (unsurprisingly) some more bad news from China. Find out what’s happened in the world of digital currencies this past week.

BitPay plans to display prices in bits: The Georgia-based merchant processor BitPay has announced plans to display BTC prices in bits. The company’s move follows a community discussion about bitcoin’s current denominations being too complex for mainstream users.

Vaurum raises $4m in seed funding: Bitcoin trading platform Vaurum has raised $4m in funding from a group of investors including former AOL CEO Steve Case and venture capitalist Tim Draper. The California-based company offers financial institutions a way to trade and store bitcoins.

FEC approves bitcoin donations for political parties: The US Federal Exchange Commission has approved bitcoin donations for political campaigns. The FEC unanimously decided that political campaigns and political action committees can accept bitcoin as a form of in-kind donation. Congressman Jared Polis became one of the first to set up bitcoin donations for his re-election campaign.

Bitcoin versus China continues: This week BTC China halted RMB deposits from the Bank of China, CEOs of five major Chinese bitcoin exchanges withdrew from the Global Bitcoin Summit in Beijing, and Huobi is considering a future as a bitcoin marketplace.

Vote for Emily: We are proud to announce that our Emily Spaven has been nominated for the Blockchain Awards‘ Most Insightful Journalist. Vote for her by filling out this form.

Have a good weekend and catch us next week at the Bitcoin 2014 conference in Amsterdam.

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May 09, 2014 at 06:16PM



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Survey Finds Silicon Valley, Wall Street Bullish on Bitcoin

A new survey published by the SecondMarket-owned public investment fund, Bitcoin Investment Trust (BIT), suggests that as the general public learns more about bitcoin, overall optimism about its future financial applications is likely to improve.

The survey garnered responses from more than 1,000 individuals, including those from the Wall Street, Silicon Valley and bitcoin communities. The results detail how the respondents first learned about bitcoin and how their view of the technology’s potential changed over time.

Overall, the findings suggest that, should the experience of these individuals successfully translate to the general public, confusion regarding bitcoin will continue to decline. This rise in awareness, the survey suggests, could also lead to more bitcoin purchases this year.

In total, BIT found that 66% of respondents plan to purchase bitcoins in 2014, and that 74% believe that bitcoin will become a viable alternative currency.

Fifty-three percent of survey takers had previously purchased bitcoin, though of those who did not, 87% indicated they were likely to purchase bitcoins in 2014 or were unsure if they would do so before the year’s end.

Launched in September of 2013, SecondMarket’s Bitcoin Investment Trust allows high net-worth investors the ability to gain exposure to bitcoin’s price movements.

Bitcoin awareness spikes in 2013

The majority of respondents – 45% – indicated that they first heard about bitcoin in 2013. Notably, 30% reported that they learned of the technology between 2009 and 2011.

By comparison, just 22% of respondents reported becoming aware of bitcoin in 2012.

The survey also sought to assess how these individuals became aware of bitcoin, with 35% saying they first learned of the technology via a blog or social media. An additional 19% of respondents first learned of bitcoin through a family or friend, while 18% read about bitcoin for the first time in a magazine, newspaper or other publication.

Understanding leads to positive sentiment

BIT found that 50% of those who first learned about bitcoin found it “intellectually interesting”, while 30% believed it was confusing or that it would never be widely adopted.

Of those individuals who found the technology interesting, 66% were likely to purchase BTC. Notably, 44% of those who were confused by the technology still reported purchasing BTC.

Upon learning more about bitcoin, 83% said they became more positive about the technology and its potential applications.

Image via Bitcoin Investment Trust

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May 07, 2014 at 09:40PM



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Chinese Exchange Huobi Considers Future As Bitcoin Marketplace

Amid ongoing uncertainty regarding their ability to continue operations, the top executives of five major China-based bitcoin exchanges abruptly cancelled scheduled appearances at this weekend’s Global Bitcoin Summit.

The move, a response to continued pressure from the People’s Bank of China, however, is unlikely to have a significant impact on what has become a core problem for these businesses – that the country’s central bank is looking to limit their interaction with key financial partners.

Now, a new report from Sina Tech suggests major Beijing-based exchange Huobi may be seeking to reposition its company’s services in response to the measures.

Speaking to the media outlet, Huobi co-founder Jun Du suggested that the company is considering a plan to use its exchange platform as a marketplace and price aggregator for digital currency buyers and sellers.

Under this proposal, Du told Sina Tech that users would form their own online chatroom group using a popular tool offered by the tech giant Tencent. Buyers and sellers within this group would then exchange bitcoin or recharge codes for RMB, interacting independently of the exchange.

Du explained that this workaround would relieve a current pain point, that Huobi must handle the transition of bitcoin to fiat currency, stating:

“What we are most focused on is the inflow of [fiat] monies.”

Though surprising, Huobi has been one of the more open exchanges when discussing a potential repositioning of its business.

The company previously reported that it has registered for overseas incorporation and offshore accounts that would perhaps allow it to continue as an exchange abroad.

Decline in volume and activity

Du also gave a glimpse at how the PBOC’s still-unofficial policies have affected the exchange. He noted that as Huobi lost key business partners, it kept open voucher deposits. This, Du said, led to a decrease in the speed of the exchange’s ability to bring in capital.

In total, Du estimates that the loss of these partner banks resulted in a 10% decline in user activity.

Further, he estimates that prices dropped 30% across all China-based exchanges in the month following these actions. The price of bitcoin had held steady above $500 on the CoinDesk Bitcoin Price Index before the rumors began in late March.

Uneven enforcement

The report also suggests that Huobi may have been affected more by the PBOC’s warnings due to its location in China’s capital.

Sina Tech notes that BTC China, which is based in Shanghai, has been “under far less pressure”, complying with requests to close accounts, but otherwise continuing to operate normally.

BTC China CEO Bobby Lee has been outspoken about the ongoing regulatory issues in China, moving to calm international fears amid fears that the country would act aggressively against domestic exchanges.

However, it, too, is facing increased setbacks. On 6th May, BTC China announced it would suspend RMB deposits from the Bank of China. For more on this story, read our full report.

CoinDesk will continue to monitor this developing story.

Image via Huobi

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May 06, 2014 at 11:41PM



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Fortress CIO Mike Novogratz Explains Why he is Bullish on Bitcoin

Fortress Investment Group CIO Mike Novogratz is bullish on bitcoin. Why? The digital currency is attracting some of the smartest people around, he says.

In an interview with Bloomberg TV from the 2014 Sohn Investment Conference in New York, and reported by Business Insider , Novogratz argued that bitcoin is attracting some serious talent, including some of the brightest programmers on the face of the planet.

Furthermore, there is a lot of smart money flowing into the digital currency, he added.

Human and financial capital

Novogratz claims there are an estimated 30,000 individual programmers working on bitcoin, which is a lot given the size of the niche and market cap of bitcoin at the moment.

In the interview, Novogratz explained why he is intrigued by the human capital side of bitcoin:

“So there’s this open source community where there’s huge brain power, let alone all the VC money that’s going in. And so from Marc Andreessen and his company to Benchmark… there’s lots of smart money going in. I’ve never seen a small project with more human capital going into it, and so I kind of want to bet just on that alone.”

When asked whether bitcoin could fade away, Novogratz said the basic concept will ultimately lead to the decentralisation of finance.

He argued that new concepts such as peer-to-peer lending will emerge and that the banks are already feeling threatened, as similar concepts have already taken off in other industries.

“The Internet disintermediates large players and I think bitcoin is just one of the threats that the finance industry [...] has coming against it,” said Novogratz.

Already a bitcoin backer

Fortress Investment Group already has a substantial presence in bitcoin: the company teamed up with Benchmark Capital, Ribbit Capital and Pantera Capital to launch a bitcoin investment fund back in March.

Previously, back in 2013, Fortress became the first Wall Street investment firm to enter the bitcoin space. It was rumoured to be buying bitcoins and a regulatory filing in February revealed that the company invested $20m in bitcoin holdings in 2013.

Novogratz clearly has more than one reason to want bitcoin to succeed – about 20m reasons, in fact – but his comments on human capital and the long-term development potential of bitcoin do ring true.

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May 06, 2014 at 01:08PM



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Ripple’s Susan Athey: Too Much Focus on Bitcoin Exchange Rate

TechCrunch is currently hosting its Disrupt NY 2014 conference, spiced up with a hackathon and an interesting ‘battle’ between 30 start-ups. Of course, no disruptive tech event would be complete without digital currencies, so TechCrunch obliged.

Ripple’s Susan Athey and Blockchain’s Peter Smith took to the stage at the event to share their thoughts on cryptocurrencies and the current state of bitcoin.

Media obsession

Athey cautioned against the media’s incessant focus on the bitcoin exchange rate.

“I think the focus on the exchange rate is a little overrated. I mean it’s fun to watch the price move around, but if I wanted to send funds to you, say, in Japan, I only care about the bitcoin exchange rate for about 10 minutes,” she said. “The level of the exchange rate is really irrelevant for its use as a transaction medium.”

We have heard similar statements from bitcoin execs in the past, but the focus is slowly shifting toward matters generally considered more important, such as VC-funding of bitcoin companies and the real-life applications of cryptocurrencies and block-chain technology.

Athey pointed out that even gold has a premium on top of its intrinsic value. As bitcoin has no intrinsic value, it’s value is solely premium, she said, explaining:

“You can think of the number of bitcoins like a pipe of fixed dimension. If I want to put a lot of dollar value through that pipe, the exchange rate of bitcoin has to grow to accommodate that volume through the pipe. If you look at the volumes and exchange rates, they track each other reasonably closely.”

She further said there were some deviations from historical trends, but it is possible to imperfectly predict the value based on the transaction volume.

Exchange warning

Asked to comment on the demise of Mt. Gox and its effect on bitcoin, Peter Smith said the overall impact will be relatively small.

However, he also used Mt. Gox as a cautionary tale, as an example of why bitcoin startups should not centralize their operation – namely their bitcoin storage. Smith said Blockchain never takes possession of the funds, always keeps its software open source and works to decentralize trust rather than centralize it.

Smith explained that centralized exchanges are vulnerable and that almost all services that have ‘centralized trust’ have suffered significant security breaches and incurred losses, adding:

“If you go out and buy bitcoins on an exchange with centralized trust, you should immediately transfer these bitcoins to a service where you can manage public and private keys.”

Smith went on to criticize the basic concept of centralising trust.

“I don’t think that business models that take away the core value proposition of the bitcoin protocol are a good idea,” he said.

The bottom line is, Smith believes start-ups that centralize trust simply have no future in bitcoin.

Images via TechCrunch

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May 05, 2014 at 06:41PM



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Announcing World’s First Bitcoin Job Fair

The world’s first ever Bitcoin job fair is set to launch in Silicon Valley on May 3, 2014, featuring numerous employers and sponsors, both eager to spread the word on the increasingly popular cryptocurrency.

The event is scheduled from 1:00 p.m. – 5:00 p.m. (PST) at 440 N. Wolfe Rd. in Sunnyvale, Calif., and will provide an opportunity for job seekers to enter one of the most progressive fields of technology in the twenty-first century.

Employers will be given the chance to choose from a pool containing some of the world’s top talent in the digital currency community, looking to employ Bitcoin developers, altcoin creators and blockchain experts.

Analysts describe Bitcoin as representing “…the voluntary and spontaneous organization of an economy. A fresh new kind of social contract based on cooperation, not force. We’re hoping to help foster this new digital economy.”

Popular for its lack of regulation by large banks and significantly lower transaction fees, the fair is expected to draw thousands of interested spectators, employers, and job seekers alike.

Some of the positions employers are looking to fill include:

The world’s first ever Bitcoin job fair will also provide opportunities to interact with serial tech-entrepreneurs like Andreas Antonopoulos, whose expertise ranges from Bitcoin, to crypto-currencies, to information security and even robotics software development.

Antonopoulos has founded three bitcoin businesses and launched several community open-source projects. He’s also a talented writer currently working on a bitcoin book designed for developers.

Plug and Play Tech Center, a global accelerator that specializes in growing tech startups, will also be in attendance, along with Coinality, the field’s leading job/resume board.

Coinality, which launched in Sept. 2013, provides opportunities for those seeking jobs that pay exclusively in digital currency. They’re currently serving more than 2,000 registered users and have received over 600 job submissions. They are also host to hundreds of resumes and have served over 1,800 job applications.

The excitement surrounding the new digital currency is expected to flourish as the numbers grow of those interested in an alternative currency that’s “decentralized, convenient and transparent.”

Forbes reports that, “Over the past year, they have transformed from black market currencies to viable alternatives for traditional investments and existing currencies.”

What makes the currency particularly unique is its ability to function both as a currency and as an investment. Today there are an estimated two to three million Bitcoin users holding the currency as an investment.

If you’re a job seeker, employer, or someone simply interested in the development of a currency not regulated by an overly inflated federal government, don’t miss the chance to be part of something truly revolutionary.

If you’re interested in being a sponsor at the event, you can sign up for one of their great packages here.

May 03, 2014 at 05:52PM



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Money Spinners: New Bitcoin ATM Varieties Appearing

From full exchange machines to one-way dispensers, CoinDesk brings you the latest in bitcoin automated service news from around the world.

The past week saw some new brands arriving on the scene, in another sign the bitcoin ATM space is beginning to diversify beyond just a few manufacturers.

The ATMs, also known as kiosks or vending machines depending on the jurisdiction, are not only putting more bitcoins into more wallets and eliminating some of the hassle of verifying accounts at online exchanges, but are also serving a secondary function as electronic ambassadors, educating the public about digital currencies and sparking curiosity simply by sitting there.

Seattle, WA

Seattle’s first bitcoin machine is one of the more ‘traditional’ types: A Robocoin operated by CoinMe at the Spitfire Grill restaurant. The machine’s palm scanner is operational as a customer-identifying measure and it has a limit of $3,000 in exchanges per user per day.

CoinMe’s General Manager, Nick Hughes, said his aim is also to use the Robocoin to educate and inform, telling Geekwire:

“People need to be able to talk about this and be educated about it [...] They need to hear about the risk and rewards from credible people.”

Saskatoon, SK Canada

Edmonton-based company Bitcoin Solutions also has the motto ‘buy, sell, learn’ and will install Saskatchewan’s first machine this coming week at a location on Saskatoon’s Broadway Ave. Not only is the ‘BTM’ one of the newer varieties but it’s also home-grown, produced by Ottawa manufacturer BitAccess.

According to this news report, the city was chosen due to its large population of younger people.

EdandEthan oh ya!! http://ift.tt/1mmQzbZ

– Bitcoin Solutions (@EDMbtcsolutions) 3rd May 2014

The sturdy-looking new machine features a simple interface and does not appear to scan ID or palm veins. Bitcoin Solutions has previously opened another machine in Edmonton and is looking to expand to other Canadian cities in the near future.

Japan

For a country that teems with gadgets, geeks and bankers, Japan has been a little slow to jump on the bitcoin ATM bandwagon. It could be the lack of regulatory clarity and Japanese language software on the current range of popular ATMs, but that is changing.

Reports from the Wall Street Journal and TV Tokyo (video has since been removed) show Japan’s first Robocoin, which is on a promotional tour. While it accepts Japanese yen, the main interface is still in English. There has been some progress on the regulatory front, however, with authorities taking a similar approach to that of Singapore: Bitcoin is not regarded as ‘money’ and thus will not be regulated, leading to a more hands-off approach.

When asked how many Robocoin machines his company intended to ship to Japan, CEO Jordan Kelley replied: “As many as the Japanese market can bear.”

Amsterdam, Netherlands

Amsterdam now also has its own bitoin kiosk and once again, it’s a newer variety. The manufacturer this time is BTC-O-Matic, a company that produces a range of different one and two-way bitcoin-dispensing devices. The one that began operating on 30th April is the ‘DualFly’ model, and a sample of the company’s other products is in this video. It is located three minutes away from Amsterdam’s Centraal district.

Dubai, UAE

Dubai startup Umbrellab is reportedly going ahead with plans to introduce over 300 bitcoin machines, by adding the feature to existing payment kiosks. This strategy led to some initial confusion over whether the machines were indeed bitcoin kiosks, but Umbrellab says it is able to do so.

The first demonstration model is in an office in the Dubai Media City technology zone, with hundreds more to follow shortly.

According to this report in the United Arab Emirates’ largest newspaper, the Middle East could be fertile ground for a technology like bitcoin due to its large young population, and high number of foreign workers who often don’t have full access to traditional banking services.

Saskatoon image via Shutterstock

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May 02, 2014 at 11:54PM



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Canadian Exchange CaVirtex to Launch Bitcoin ATMs Across Canada

Canadian digital currency exchange CaVirtex has announced plans to relaunch a balance deposit feature and establish a new network of branded ATMs.

The company revealed the plans in a 1st May message to customers, outlining a number of future services improvements, which include a new trading API and merchant user interface.

CoinDesk spoke with CaVirtex business development manager Reed Holmes, who framed the choice to relaunch the bill deposit option as a bid to make it easier for people to move their money into the marketplace.

Holmes told CoinDesk:

“We’re very excited to offer this service again. We feel like it’s something our customers really liked when we had it before, and we hope that they’re excited to see it again.”

From cash to coins

The planned cash bill payment deposit option, which does not have a set launch date, was initially offered to customers in 2013 before being discontinued last September. Under the service, customers can make deposits via Money Mart, a consumer financial services chain.

Customers need to have a verified account to use the cash bill payment option, which generates an invoice for the deposit amount.

Users can then bring this invoice to a Money Mart location, which processes the invoice and completes the deposit. There is a deposit limit of CA$9,500 per day, with a monthly maximum of CA$90,000.

Holmes couldn’t say when the service would launch, saying that the company planned to accept cash bill payments “soon”.

Plans for future ATM network

CaVirtex is also in the early stages of planning an eventual bitcoin ATM network launch.

Holmes told CoinDesk that right now, the company is focused on researching the idea and determining how exactly the network would be composed.

Said Holmes:

“There are a lot of different moving parts there – who’s going to be operation, where are they going to be operated from – there’s quite a bit, obviously as you can imagine, that goes into it. We’re still getting all that stuff together.”

Holmes added that the company is in contact with several ATM manufacturers but has not made any purchase decisions. Additionally, CaVirtex has no concrete timeline for when the ATM network would begin to be deployed.

The exchange is also in the process of vetting potential ATM operators.

Image via CaVirtex

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May 01, 2014 at 10:31PM



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Robocoin to Rebrand Bitcoin ATMs as Online Bank Branches

Las Vegas, Nevada-based bitcoin ATM manufacturer Robocoin has announced it will soon launch Robocoin Bank, a new project that will find its physical bitcoin ATMs becoming Robocoin Bank branches that integrate online banking features.

Robocoin indicates that Robocoin Bank will incorporate new features such as cryptographic provable reserves, instant bitcoin-to-cash withdrawals and the ability to send cash internationally as part of an effort to build what it calls “banking and remittance 2.0″.

Jordan Kelley, CEO of Robocoin, told CoinDesk that the new service brings the company closer to its original goal of making bitcoin more user-friendly for mass-market consumers and the underbanked.

Kelley said:

“We realized very quickly that we needed to build an online bank that way our customers don’t have to worry about private keys anymore.”

Bitcoin as a backbone

By adding functionality and terminology that is similar to an existing service, online banking, Kelley noted that he hopes to remove the complexity and pain points associated with bitcoin transactions, instead using the technology as a backbone for more traditional financial services.

He said:

“The idea that bitcoin is going to be this big game-changer for remittance is absolutely factual, however, thinking that a Mexican immigrant is going to be sending bitcoin back to his family is really far-fetched.”

Kelley indicated users will now be able to send both bitcoin and fiat currency to recipients using any Robocoin branch. Next, recipients receive a text confirming they were sent that amount and withdraw the funds at a local machine.

Operators, Kelley said, will gain increased information about their customers, as they will now know where money is being sent via their machines.

Rebranding

With the launch Robocoin is also rebranding a number of its existing services. For example, Robocoin Kiosks will now be referred to by the company as Robocoin Bank Branches.

The company is also updating the terminology related to how consumers interact with its devices to bring clarity to its service changes. Robocoin noted that consumers will no longer “buy” and “sell” bitcoins on the service, but rather deposit and withdraw bitcoin or fiat currency.

Further, customer public bitcoin addresses will now be referred to as Robocoin accounts, where customers store and access their wealth using a combination of their phone number, PIN number and biometric identification.

Explained Kelley:

“The phone is now acting as the username, the PIN that customers create is the first part of the password and their palm is password part two. My bitcoin is now accessible from the online banking portal or any ATM around the world.”

About Robocoin

The company is one of several in an increasingly competitive marketplace which includes Lamassau, both of which recently launched ATMs operating in London.

Robocoin has also run into its share of problems. Most notably, Taiwan’s Fianncial Supervisor Commission moved to block its efforts to launch ATMs in that country, saying that the required authorization would not be granted if requested by the company.

For more information on the new service, visit the company’s website here.

Image via Robocoin

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May 01, 2014 at 06:57PM



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Menufy Integrates Bitcoin

by Tristan Winters on April 30, 2014 { }

The site provides online ordering for restaurants across the US. Menufy has integrated with Coinbase. Users can now pay for delivery or takeout orders using Bitcoin.

The site boasts close to 400 locations across the US and is constantly adding new locations.

Menufy offers an online presence for websites and a platform to increase their takeout and delivery business. For users, Menufy boasts an unparalleled user experience.

The team at Menufy ranges from restaurant management to software engineering and interactive marketing.

As Menufy is always looking to increase the number of restaurants on offer and geographical reach, interested food service businesses are encouraged to make contact with the team at Menufy. They have experience in the complex nature of the restaurant business and offer visibility for restaurants on the Internet.

For the basic services, there is no cost outside of a 2.5% + $.30 credit card processing fee. With Bitcoin, obviously this is not a concern. Orders paid in cash are processed free of charge.

Customers are directly charged a $1.25 convenience fee. Merchants can absorb this fee if they wish to offer free online ordering to their customers. In this case $1.25 is subtracted from the credit card order total, before making the deposit into the merchant bank account.

With Bitcoin merchants have an exciting new option for payment to work with. This option can reduce their costs of working even further. As merchants become used to this payment system, no doubt they will be passing on savings to customers for Bitcoin payments.

Once a merchant restaurant goes live with their website, delivery and takeout orders are fully automated and simple.

April 30, 2014 at 06:35PM



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CoinMyne – Rethink the Way You Mine

When it comes to mining, most people tend to focus on the hardware: how fast it is and how long until it becomes obsolete. As mining operations get larger and difficulty increases with ever faster hash rates, the ability to manage your operation becomes a more difficult task. Small adjustments to hardware or the ability to quickly switch pools can make a huge difference in profitability. Enter CoinMyne, the creators of the popular CGRemote and CGWatcher mining monitoring software.

CoinMyne is a Los Angeles-based software company founded by CEO Mark Price and COO Scott McCarthy. In January they hired Justin Milone, the original creator of CGRemote and CGWatcher, as their VP of Software Development. Currently CoinMyne software has over 100,000 users and covers a large percentage of the mining community.

CoinMyne’s software gives miners the flexibility to monitor and manage their operations remotely. The CGWatcher application provides monitoring and scheduling features to watch for and automatically correct problems to minimize downtime. It provides tools to simplify miner configuration, making it easier for beginners and advanced users alike to manage the growing collections of pools, coins, and config files. CGRemote provides similar functionality, but allows you to remotely manage multiple miners in one place regardless of where the miners are located. It can eliminate the need for remote desktop software by offering a remote file explorer, text editor, and task manager, among other features. Currently the development team at CoinMyne is moving CGRemote to the cloud, where all of these powerful features will be available from any web browser or mobile phone.

With ever-increasing hashing power and new ASICs being introduced all the time, it is important that all miners – from the hobbyist to the large-scale enterprise – utilize such software to keep a competitive edge.

Mark states, “We are currently working with hardware manufactures, hosting facilities, contract mining providers, and pool operators to provide mining software solutions to a larger audience. Our cloud-based platform will allow for greater flexibility and offer powerful capabilities for operations both large and small.”

Mark envisions a scenario where CoinMyne’s software is both bundled with mining hardware and offered by pool operators, giving these companies a competitive advantage and offering their customers powerful features. Their software is already being used by hosted mining facilities and cloud-based mining rental providers to allow users secure remote access to their machines. This extra incentive can help encourage a customer to choose a particular hardware solution, mining pool, or hosting company, and in turn can justify higher fees or costs paid by end users.

The scale of CoinMyne’s current customer base allows them to offer valuable analytic data to partner companies and their users. This data can greatly help hardware manufacturers map out efficiencies with hardware, tracking uptime and downtime, overheating, hashing rate, and more.

“Our large user base provides a great sample size for mining in general. With the ability to look at all of these miners and collect hardware information, performance statistics, and configurations, then present this data to the community saying “This is the configuration that should work best for your particular hardware… and we know this because we’ve compared it to thousands of others and found that this produced the best hash rate or utility rate for the devices you have.” This is one of the many projects we’re working on in order to be a positive influence in the mining community”, Mark added.

CoinMyne’s software can also be set to take advantage of coin price volatility and switch to the most profitable coin automatically. This is already helping miners get the highest return on their investment, and even allows the user to define their own formula for determining profitability. CGWatcher and CGRemote give users the versatility to run CGMiner, BFGMiner, SGMiner, VertMiner, or any other CGMiner fork, allowing users to continue using the miner that works best for them. CGRemote, the newer of the two programs, works with miners on any operating system, while CGWatcher is currently only available for Windows. Providing all of their software to all platforms and operating systems is a priority and is already something they’re spending a lot of time working on. For CoinMyne it is not just about making mining more profitable, but making it easier and more accessible.

To try CoinMyne’s software visit www.coinmyne.com where CGWatcher can be downloaded for FREE. You can also purchase CGRemote there (still in beta) for $25, which also gets you the software for free once it’s released, using Bitcoin, Litecoin, Dogecoin, or PayPal.

For enterprise solutions or other questions contact Scott McCarthy.

sales@coinmyne.com

April 30, 2014 at 01:00PM



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