Modern fiat currencies depend for their value on confidence in the laws of the states that issue them. Some nations, like the United States with its established central bank, inspire substantial confidence relative to nations that may debase for their currency for political objectives. But no nation can absolutely insulate its currency from political manipulation…
The onslaught of DDoS attacks targeting bitcoin websites around the world isn’t showing any signs of abating as an Indian bitcoin exchange came under attack today. Indian bitcoin exchange Coinsecure saw a spike in traffic this Monday morning local time. The number of connections attempting to reach the website was enough to disrupt exchange activity. Operational…
One of the first questions that anyone interested in mining cryptocurrencies faces is whether to mine solo or join a pool . There are a multitude of reasons both for and against mining pools. However, if the hash rate distribution across the bitcoin network is anything to go by (and it is) then most miners are opting to join a pool. Here’s what you need to know…
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When academics and journalists need information about the bitcoin ecosystem, they turn to our interactive charts. And they’re not alone; our charts have been a trusted, helpful research tool for millions across the globe. Today we’re highlighting 3 charts and sharing details about a recent update that allows you to better export and embed our charts. But first…
In November 2008, a paper was posted on the internet under the name Satoshi Nakamoto titled Bitcoin: A Peer-to-Peer Electronic Cash System. The paper is only nine pages long. If you remove the diagrams throughout and references on the last page, it would probably come in at around five and a half pages. Abstract A purely peer-to-peer version of electronic cash…
Investors Tyler and Cameron Winklevoss are another step closer to offering the first Securities and Exchange Commission (SEC) regulated bitcoin investment product following a request for comment published Friday. Last month, BATS proposed a rule change that would result in the listing and trading of the Winklevoss Bitcoin Shares issued by the Winklevoss Bitcoin…
U.S. District Judge Alison Nathan in Manhattan rejected a bid by Anthony Murgio to dismiss two charges related to his alleged operation of Coin.mx, which prosecutors have called an unlicensed bitcoin exchange. Murgio had argued that bitcoin did not qualify as funds under the federal law prohibiting the operation of unlicensed money transmitting businesses…
Bitcoin exchanges allow you to buy or sell bitcoins, the ask price is the lowest price a seller is willing to accept for their bitcoin. The bid price is the highest price a buyer is willing to pay for your bitcoin, you can click the bid price column heading to re-order the bitcoin exchanges by bid price. Spread is the difference between the ask and bid prices…
We are working hard to bring back GBP wires as soon as possible. Currently, the only way to transfer funds to your Coinbase account would be to use SEPA or to purchase using a 3D Secure enabled credit or debit card. Prior to sending funds, you will need to look into your bank s policies on exchanging for EUR as well as any other fees they may apply for this service…
Many digital currencies face the problem of double-spending: the risk that a person could concurrently send a single unit of currency to two different sources. This moral hazard arises due to the trivial reproducibility of digital information, and the information asymmetry that can result from this. Double-spending occurs when an agent can easily conceal or misrepresent…
The latest plunge in Bitcoin has been triggered by worries around China and the Chinese government, both of which hold a stake in Bitcoin. It is no secret that the government in the People’s Republic would like to halt the meltdown in the Renminbi. As Bloomberg reported: “China’s foreign reserves fell to a five-year low of $3.05 trillion as of November as the…
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They say the best disinfectant is sunlight and the People s Bank of China just opened the shades on bitcoin. According to multiple news reports, the PBoC will conduct ongoing examinations of bitcoin exchanges - this has caused the price of bitcoin to crash 14 percent on Wednesday after a 22 percent drop earlier in January. Interestingly, despite bitcoin s low…
Cyren has discovered an outbreak of malware which is stealing passwords as well as Bitcoin from crypto-currency wallets on PCs. This versatile keylogger malware is being delivered as an attachment to phony bank transfer emails, which inform the recipient that they have received a deposit. The emails are originating primarily from bots in the U.S. and Singapore…
If there is a need for them, additional decimal places can be added with concensus of the network. This is why some refer to infinite divisibility, because we can select the level that we need as time goes on. The current level selected in the code (by Satoshi) is 8 decimal places (1 satoshi = 0.1 BTC) hence the nickname for the smallest unit currently possible…
If the Securities and Exchange Commission approves a bitcoin exchange-traded fund next month, it might set off a speculative rush into bitcoin. An easily accessed ETF that tracks the value of bitcoin could cause money to flood into the fledgling bitcoin market, analysts say. Indeed, what some see as a chance for average investors to participate in one of the…
Bitcoin is a new currency built off Satoshi Nakamoto s (alias) 2008 Bitcoin white-paper. Bitcoin provides its users with a way to make peer-to-peer (P2P) transactions without having to use a bank as a mediator. There is no middle man, no corporation backing it, and no one has access to your money, except you. It s decentralized from government, run by the people…
Beginning on March 1, fans will be able to buy gear in the team store and pay for tickets with the digital money. Kings owner Vivek Ranadive says accepting Bitcoin virtual currency is the next step in allowing fans to leave their wallets at home. Sean Gallup/Getty Images When I sold the NBA on keeping the team in Sacramento, my pitch included using the sports…
At that time, they claimed to have purchased $11 million worth of BTC at a rate of around $120. There have only been a few times since then that they’ve actually lost any value, and currently they’re sitting on a higher value than their original investment. If they sold during the $1-plus bubble at the end of 2013, and then purchased again, it’s hard to say…
A few months after that all-time high, Mt. Gox, one of the earliest and biggest Bitcoin exchanges, shut down after news it had lost hundreds of thousands of Bitcoin owned by its users. This caused the price to nearly drop in half. Since then, over the past four years, the price has fluctuated dramatically, sometimes tied to news like the halving and broad economic…
Counterparty risk is the biggest danger with trading bitcoin. You can be the best trader in the world and lose your portfolio by having your exchange go bankrupt. Oftentimes an exchange will show signs of weakness long before going bust. In the Bitcoin world, reputation is everything so do your research before sending money to an exchange. The following three…
Why July 10 will determine cryptocurrencys future, illustrated
One of the main criticisms made when it comes to the value of bitcoins is that there is no central authority that can control the price of the digital currency over a long period of time. This lack of price stability has caused problems for some users over the short term, but the general understanding in the Bitcoin community is that this volatility will continue…
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The purpose of the following statement is designed only to give information to our users about our choice to suspend our services. During the past several months Bitcoin Co. Ltd., in Thailand, has been in the process of registering with the various Thai government agencies in order to operate in a lawful manner. Included in this due diligence was to reach out…
Bitcoin: some think it will revolutionize currency, others think it’s nothing more than a Ponzi scheme. The worth of the open source cryptocurrency has fluctuated significantly since it was first introduced – mostly losing value. Nonetheless, a surprising number of major corporations have begun accepting payments for products in Bitcoin. A Wired.com article encouraged…
