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2013-12-10 15:24:00+00:00

{"Bitcoin": [75, 347, 498, 522, 634, 765, 921, 1030, 1584, 1726]}

{"Bitcoin": [23]}

Why Apple Is Rejecting Bitcoin Apps

https://finance.yahoo.com/news/finance.yahoo.com/news/why-apple-rejecting-bitcoin-apps-152453252.html

Business Insider

http://www.businessinsider.com/

bitcoin AP It seems like everyone wants to chime in with their opinions on Bitcoin – "It's a scam," or "It's the future," etc. – but Apple has so far maintained its famous silence when it comes to the anonymous digital currency that's got heads turned across industries. This post from TechCrunch calls attention to how Apple has thus far treated Bitcoin-related apps when they're submitted for App Store approval. In short, not well. Coinbase and Gliph are two higher-profile companies dealing in Bitcoin – Coinbase is a Bitcoin exchange for buying and selling the digital currency, and Gliph, a mobile payments app set up to handle Bitcoin transactions. The Coinbase app was removed from the App Store entirely and Apple requested that Gliph get rid of its app's Bitcoin functionality , despite letting it operate unencumbered for the previous seven months. So even though Apple hasn't explicitly stated it won't allow Bitcoin apps, its behavior certainly sends a clear message. This is not to say that Apple will always reject Bitcoin apps, but that Apple is simply protecting itself from legal repercussions until regulators can come to some sort of consensus on how to treat the digital currency. Here are the salient details from the TechCrunch post: The rejection, [Gliph CEO Rob] Banagale notes, was based largely off of section 22.1 of Apple’s App Store review guidelines. The rule states that “apps must comply with all legal requirements in any location where they are made available to users. It is the developer’s obligation to understand and conform to all local laws.” Bitcoin is not illegal, but it is also not legally recognized by governments as a currency. This gray area is what is leading Apple to reject Bitcoin-transaction apps. More From Business Insider 20 Photorealistic Pictures Of Computer-Generated People IBM's Jeopardy-Winning Supercomputer Will Power A 'Cognitive, Expert Personal Shopper' App Next Year Remember When That Watson Supercomputer Won Jeopardy? Here's What's Going On With It Lately

2013-12-10 18:00:00+00:00

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{"Bitcoin": [48]}

KryptoKit Unveils World's First Secure, Instant Bitcoin Wallet in a Browser

https://finance.yahoo.com/news/kryptokit-unveils-worlds-first-secure-180000893.html

Marketwired

http://www.marketwired.com/

LAS VEGAS, NV--(Marketwired - Dec 10, 2013) - INSIDE BITCOINS, LAS VEGAS - KryptoKit ( www.kryptokit.com ), the easiest and fastest way to handle Bitcoin transactions, today debuted the world's first Google Chrome extension instant Bitcoin wallet and secure payment system. The implementation of a Bitcoin wallet directly into a web browser has been touted as the holy grail for Bitcoin mass adoption, and today KryptoKit delivers a set of tools that dramatically simplify Bitcoin transactions. KryptoKit offers the fastest Bitcoin wallet setup and simplest Bitcoin payments, integrated into a secure Bitcoin platform where all user data is stored client-side and never sent to any remote servers. KryptoKit does not know user passwords or private keys, nor does it have access to customer funds or Bitcoins. Available for free on the Google Chrome Web Store, and with code that is visible for all to audit, KryptoKit installs immediately, generating a brand new Bitcoin wallet in a matter of seconds. Removing the need for passwords or user credentials during setup, one simply moves the mouse around the screen until a new public and private key-pair appears. The mouse coordinates coupled with a random character generator create a new Bitcoin wallet instantly. "It's always been our goal to create an instant Bitcoin wallet system that removes much of the friction associated with current web and software wallets," says Anthony Di Iorio, who along with Steven Dakh founded the Toronto-based company. "With the demise of the popular Instawallet earlier this year, we knew there was a need for a fast Bitcoin wallet system, and we have been eager to fill the void." Using the provided embedded QR code or deposit address, the KryptoKit wallet can be easily funded from any other web or software wallet. Deposits appear instantly and no confirmations are required to initiate outgoing transactions. The real genius of the system is unveiled when making Bitcoin payments as KryptoKit crawls the users screen (webpage) for any Bitcoin addresses and places them in a bulleted list directly in the wallet window. The user simply selects the address they wish to make a payment to, enters the amount, and hits send. No more copying and pasting addresses and no more moving back and forth between tabs to your web wallet. KryptoKit is the easiest and fastest way to make Bitcoin payments, including the automation of entering payment destination addresses. Along with the Bitcoin wallet, packaged in the launch today of KryptoKit is an easy to use, secure and private messaging system. Utilizing GPG encryption (the open-source version of PGP), this easy-to-setup system makes sending encrypted messages to your friends a breeze, with new message notifications appearing directly in the extension icon. Story continues KryptoKit is exhibiting at Inside Bitcoins in Las Vegas, December 10-11. Attendees are encouraged to drop by the booth, see KryptoKit in action and explore the additional features of this payment and communication systems. Features such as one-click backup of KryptoKit data, and a brain wallet that allows users to access their Bitcoin wallet anywhere in the world without carrying any backup files. About KryptoKit KryptoKit is a Toronto-based company specializing in encryption and digital currencies. Founder Anthony Di Iorio is the Executive Director of the Bitcoin Alliance of Canada and founder of the Toronto Bitcoin Community Meetup. Co-founder Steven Dakh is from New Jersey, and has been developing using multiple platforms since age six. Steven has been heavily involved with Bitcoin development since 2011. View comments

2013-12-10 19:43:00+00:00

{"Bitcoin": [43, 296, 338, 419, 616, 635, 693, 874, 1047, 1117, 1619, 1639, 1666, 1703, 1769, 1980, 2051, 2216, 2329, 2399, 2470]}

{"Bitcoin": [11]}

How To Buy Bitcoins Completely Anonymously

https://finance.yahoo.com/news/buy-bitcoins-completely-anonymously-194354962.html

Business Insider

http://www.businessinsider.com/

bitcoin license plate GlenCooper/flickr As Bitcoin is a decentralized monetary system, it has a certain appeal to hardcore libertarian types who'd prefer to keep their money out of the government's sight and reach. But maintaining this kind of financial anonymity isn't entirely straightforward. Bitcoin exchanges, where you buy and sell Bitcoin, are often paired to your bank account in order to convert your money to Bitcoin as you buy it. And your bank account is obviously tied to your identity. Let's go through two different methods for taking your stores of wealth off the grid. 1. Cash deposits through LocalBitcoins.com. LocalBitcoins is a service that connects people seeking to buy Bitcoin with those looking to sell, and vice versa. For those looking to anonymously buy it, simply selected a trusted vendor from the list of people able to sell you the amount of Bitcoin you want. They'll provide you with banking information and you make a cash deposit into their account. Once the transaction's confirmed, you'll usually receive your Bitcoins in a matter of minutes. Here's an example. If I want $100 in Bitcoins, I search for people able to accommodate that amount as a cash deposit. Here's what the search results look like: Screen Shot 2013 12 10 at 2.19.13 PM Screenshot I'd probably use the first vendor, as his feedback shows over 100 completed transactions and a 100% positive rating. The description lists Wells Fargo as this person's bank, so at this point I'd go to a Wells Fargo with $100 cash and make a deposit into the vendor's account. As soon as it's confirmed, I have anonymously acquired Bitcoins in my LocalBitcoins account. 2. Use a Bitcoin tumbler. If you already have Bitcoins that you want to anonymize, you'd probably want to use a Bitcoin tumbler. Here's a scaled-down version of the idea behind them. If you and I each put 500 pennies in a jar and shake it up, we can then remove 500 pennies each without knowing whose were initially whose. Bitcoin tumblers facilitate groups of people anonymously pooling their Bitcoins, mixing them up, and redistributing them back to the group, usually minus a small fee for the service. Story continues The most popular tumbler seems to be BitcoinFog, which you can read more about here . More From Business Insider The Dealership That Sold A Tesla For Bitcoin Wants To Make More Digital Deals Someone Bought A Tesla Using Bitcoin Two Guys On Reddit Are Chasing A Thief Who Has $220 Million In Bitcoins

2013-12-10 21:00:00+00:00

{"Bitcoin": [132, 221, 766, 947, 1626, 1951, 2361, 2927]}

{"Bitcoin": [30, 65]}

KnCMiner Debuts Most Powerful Bitcoin Miner in History at Inside Bitcoins Conference

https://finance.yahoo.com/news/finance.yahoo.com/news/kncminer-debuts-most-powerful-bitcoin-210000931.html

Marketwired

http://www.marketwired.com/

LAS VEGAS, NV--(Marketwired - Dec 10, 2013) - INSIDE BITCOINS -- KnCMiner ( www.KnCMiner.com/ ), a manufacturer of state-of-the-art Bitcoin mining machines, today began general pre-ordering of its next-generation Neptune Bitcoin mining equipment. The machine has already been available for pre-order to existing KnCMiner customers, a pre-sale that included the company taking $8 million in orders in just 24 hours. The company anticipates that continued strong demand means that the Neptune model will completely sell out before Christmas, with a total worldwide shipment of only 2,400 units. Pre-order pricing is $12,995. "While we have seen a significant increase in demand for our line of machines from the last quarter to this one, unprecedented anywhere in the Bitcoin mining industry," said KnCMiner CEO Andreas Kennemar. "We're now focusing on doing everything we can to meet the demand we expect we will continue to receive, especially as Bitcoin's popularity continues to soar." The Neptune is KnCMiner's first 20nm product and will be shipping in the first and second quarters of 2014. It has a minimum 3,000 GH/s (300,000,000,000 hashes per second) of hashing speed, five times faster than the speed of the company's first Jupiter release. This incredible speed is accomplished despite a 30 percent reduction in watts used per GH. Subsequent to selling out its production supply for December in just a matter of days, KnCMiner also sold out a $600,000 supply of upgrade modules in under five minutes to existing customers who already have rigs. KnCMiner has produced almost $45 million in total global sales of its Bitcoin mining rigs to 120 different countries in the company's eight short months of existence since April 2013, rapidly going from market entry to market leader. The company soon will begin taking pre-orders again to meet this historic demand by miners who are participating in the new "digital gold rush." KnCMiner offers Bitcoin mining hardware that is faster and more efficient at producing the virtual cryptocurrency, at competitive prices, while keeping energy costs lower and mining areas cooler. KnCMiner has partnered with the biggest names in supercomputing, including a recent partnership with Alchip Technologies, to deliver rigs that can hash faster and more efficiently than any others on the market. KnCMiner's line of Bitcoin speciality machines, including the popular Jupiter and Saturn models, contain proprietary technology with custom-engineered ASIC that provide the highest production performance on the market with energy-saving features that are unique to the product line. For more details about KnCMiner, and specific lines of machines such as the Jupiter and Saturn, please visit www.KnCMiner.com . About KnCMiner KnCMiner is a Swedish company founded in 2013 as a joint venture between ORSoC AB and Kennemar & Cole AB. KnCMiner produces a popular line of machines to help Bitcoin producers mine the digital cryptocurrency more effectively and more efficiently at overall lower cost. For more information, please visit www.KnCMiner.com .

2013-12-10 21:15:00+00:00

{"Bitcoin": [2339]}

{}

Jeff Gundlach Speaks On The State Of The Economy And The Markets

https://finance.yahoo.com/news/finance.yahoo.com/news/live-jeff-gundlach-speaks-state-210118899.html

Business Insider

http://www.businessinsider.com/

Jeffrey Gundlach REUTERS / Jessica Rinaldi DoubleLine CEO Jeff Gundlach hosted one of his popular webcasts this afternoon in which he discussed "the economy, the markets and his outlook for what he believes may be the best investment strategies and sector allocations for the DoubleLine Total Return Bond Fund and Core Fixed Income Fund." The webcast is titled "Something for Nothing." Below is a summary of the call. 4:23: Gundlach says one reason perhaps risk markets have been supported in 2013 is shrinking deficits while Federal Reserve bond buying has remained constant. 4:30: Gundlach has been talking mostly about Obamacare for the first 15 minutes of the call. He is concerned. 4:41: Gundlach notes the first increase in household debt in Q3 2013 in years, says those who expect economic growth to plateau at higher levels in 2014 probably need that development to hold steady. 4:46: Gundlach says the unemployment rate would be 9.3% if those who dropped out of the labor force for reasons other than demographics since the crisis were still in the labor force. 4:48: Gundlach notes that the unemployment rate for those without high school diplomas has been falling in line with the decline in unemployment for college graduates. 4:51: Gundlach says a lot of people are getting worried about covenant-lite loans and other relaxation of lending standards in the corporate bond market. He says this will come back to haunt us at some point, but not as long as corporate profitability stays this high. 4:55: Gundlach says Fed stimulus will be with us longer than people think because there is no inflation. 4:58: Gundlach doesn't think it's right to favor high-yield bonds over dollar-denominated emerging market bonds, given recent EM underperformance. 4:59: If rates go higher, Gundlach thinks the pension community is going to be a buyer. 5:02: Gundlach says a basket of Asian currencies seems to be a good short-term leading indicator of U.S. interest rates. When Asian currencies weaken, usually rates rise. Story continues 5:04: Gundlach says from a long-term perspective, there isn't a compelling case for EM equities relative to U.S. equities. 5:21: "One of the problems with this whole Japanese thing is that Mr. Abe is losing his popularity."—Gundlach 5:28: Gundlach is bullish on non-agency mortgages. 5:28: Gundlach says Bitcoin is just a wild, speculative rocket-shot to the moon, and it's living in a world of its own just based on speculation. 5:29: Gundlach says he thinks there is causality between the rise in real estate prices and the decline in gold prices. Click Here For Gundlach's Full Chartbook » More From Business Insider Markets Are Higher Ahead Of Major Jobs Report Stocks Are On The Verge Of 5 Straight Down Days Markets Are Going Nowhere

2013-12-11 02:28:00+00:00

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{"Bitcoin": [0]}

Bitcoin Proves The Libertarian Idea Of Paradise Would Be Hell On Earth

https://finance.yahoo.com/news/bitcoin-proves-libertarians-idea-paradise-022800742.html

Business Insider

http://www.businessinsider.com/

AP348980180592 AP Photo/Farah Abdi Warsameh Welcome to Bitcoinistan! Libertarians love Bitcoin . About 44% of the online crypto-currency's users self-identify as Libertarians . They love the fact that it's not controlled by a government or central bank — so no online Fed can "print" more of it and inflate our way out of trouble. They love that it's decentralized; it's the currency of The People, not The Man. They love that it's "mined," a bit like gold, because that makes it a bit like the gold standard, which libertarians think real currencies ought to be tied to. They love that Bitcoin isn't taxed , so you can hide your income from the government if you want to . They love the way its value reflects pure supply and demand , and not a value forced into the system by regulation or monopoly. And they love that it's fairly lawless — it's difficult to enforce rules (other than the rules of the market) when everyone in the market is anonymous. So the Bitcoin experience gives us a glimpse of Libertarian paradise: What life would be like with as little government interference as possible, in a market free of burdensome laws and taxes. Unfortunately, that experience looks like a total nightmare. It's characterized by radical instability, chaos, the rise of a boss-class of criminals who assassinate people they don't like, and a mass handover of wealth to a minority even smaller than the 1% that currently lauds it in the United States. If Bitcoin was a country — Bitcoinistan? — it would be like Somalia. Consider: robber thief graffiti Flickr/Richt Bitcoin is most useful to criminals. Currently, for ordinary people, cash and credit work just fine. While some mainstream businesses do take Bitcoin, there is no compelling reason — yet — for ordinary people to use it. If you're a criminal, however, there are very compelling reasons to use it: you can transfer vast sums of cash completely anonymously. Cash transfers are a real problem for criminals. When you can't use bank accounts, lugging around vast sums of cash gets old pretty quickly. Bitcoin solves that. So Bitcoin is very, very empowering for criminals. Story continues There is a Bitcoin crime wave going on right now. Given that Bitcoin is good for criminals, it should not be surprising that those criminals are targeting other Bitcoin users for thefts. The most spectacular theft so far is the Sheep Marketplace robbery , in which one hacker appears to have emptied a massive Bitcoin marketplace of up to $220 million in Bitcoins. Note that Sheep Marketplace was basically a trading post for drug dealers. Bitcoin exchange and account thefts are very common. Here's a potted history of recent Bitcoin capers . rifle scope sight crosshair Lance Fisher / Flickr, CC Bitcoin "law" is enforced by paid assassins. The most shocking thing about the indictment of the Silk Road operator Ross Ulbricht was not the amount of money in Bitcoin he controlled (about $28 million). Rather, it was the fact that when other drug dealers ripped him off, he didn't put it down as the price of doing business. Instead, he is accused of hiring a hitman to murder six people he believed had stolen from him. Ulbricht was a Libertarian . In other words, there will be laws in the Bitcoin Libertarian paradise: And the people with the most Bitcoins will decide what that law is, when it should be applied, and how "justice" will be meted out. In Bitcoinistan, the sentence for non-violent financial crimes includes the death penalty, apparently. There is literally a Bitcoin market for assassinations. There have always been people engaging in murder for hire, using old-fashioned cash. But the operator of this Bitcoin website seems to believe that Bitcoin creates enough anonymity to allow assassination to take place "at scale" (to borrow the parlance of the tech startup world). He wants to destroy "all governments, everywhere." Bitcoin as a currency is horribly unstable. Bitcoin Bitcoincharts This chart (above) tells you all you need to know. One day you're rich, when Bitcoin approaches $1,200; the next day half your wealth is wiped out as it plummets to $700. Bitcoin isn't backed by any government's bonds or central bank gold. It's literally an asset without an underlying asset. So its price is determined entirely by its flows. Bitcoinistan makes the Weimar Republic look sedate. Even if you could live with the crime, the instability makes transactions wildly unfair to the party on the downside. monopoly man Hasbro / Milton Bradley Bitcoin has produced comical wealth inequality. Libertarians don't care about inequality, of course. They see it as a reflection of individuals' natural talents, and as an incentive to work harder. But even the most hardcore free marketeer ought to blanche at the incredible level of inequality already endemic to Bitcoin. Just 47 individuals own nearly one-third of all Bitcoins . About 927 people control half the entire currency. There are just over 1 million Bitcoin holders — the vast majority of them own mere crumbs. Bitcoin hoarding could produce a cartel that controls all Bitcoin. A study from Cornell has claimed that if Bitcoin miners cooperate, they could end up controlling most Bitcoins and thus control the currency's price. The cartel could beggar or enrich all Bitcoin holders overnight, depending on how they trade it. That kind of thing just doesn't happen with the dollar. delete key keyboard eofstr / Flickr, CC Even if you can live with the crime, the inequality and the cartel, you might not tolerate the accidental chaos. When you have a normal bank account with cash in it, you're almost guaranteed not to lose the money. The bank can burn to the ground, be robbed or even go out of business and because of federal deposit insurance you'll always get your money back. You can't "lose" U.S. dollars if they're parked in a checking account. Not so with Bitcoin. If you're ever unlucky or careless with your Bitcoin wallet, you're completely screwed: This guy lost about $600 because he reset his mobile phone — permanently deleting his Bitcoin wallet. This guy threw away an old hard drive — and now he is looking for $6.5 million in a landfill. This guy lost about $90,000 because he hit "delete" at the wrong time. Sure, the entire Bitcoin economy is not run by criminals. But still, there is a price to pay for the freedom and anonymity that Bitcoin provides, and the price is a lack of enforceable laws that benefit the most ruthless. The Libertarian Bitcoin dream is an interesting idea, but you wouldn't want to live there. More From Business Insider The Dealership That Sold A Tesla For Bitcoin Wants To Make More Digital Deals Someone Bought A Tesla Using Bitcoin Two Guys On Reddit Are Chasing A Thief Who Has $220 Million In Bitcoins

2013-12-11 08:01:00+00:00

{"Bitcoin": [192, 301, 321, 698, 740, 775, 848]}

{"Bitcoin": [58]}

Rostock Ventures Corp. Investigating Opportunities in the Bitcoin Industry

https://finance.yahoo.com/news/rostock-ventures-corp-investigating-opportunities-080100880.html

Marketwired

http://www.marketwired.com/

SAN DIEGO, CALIFORNIA--(Marketwired - Dec. 11, 2013) - Rostock Ventures Corp. ( ROSV ) wishes to announce that the company has engaged in discussions to look into the opportunities within the Bitcoin Industry from different aspects within this exciting area ranging from creating an exchange to trade Bitcoins to various Bitcoin mining opportunities. The company's board at this time has not secured a deal and may not find a viable opportunity going forward. Management will update shareholders as any progress is made on this front. President and CEO, Greg Rotelli, stated, "Management is actively looking into opportunities that will enhance shareholder value, including but not limited to, the Bitcoin space. Potential opportunities in Bitcoin include involvement in the Bitcoin community for mining, trading and development. With the value of Bitcoins recently going over $1000, it makes sense to look into any opportunity that may add shareholder value." Recently the company's Board of Directors has voted to initiate a 5-for-1 forward split of the Company's common shares payable as a dividend to our shareholders. At this time the Board has not selected the record a firm date to implement the forward stock split, but once a final record date is established, it will be announced. The Company anticipates that the forward stock split will occur prior to the end of 2013. Once we have implemented the 5-for-1 forward stock split, the Company's common stock will begin trading on a split-adjusted basis and the shareholders of record as of the selected record date will then own five shares for every one share previously owned. For example, if you owned 20,000 shares at the close of the record date you will be entitled to 100,000 shares after the split occurs. Presently the Company has approximately 41,000,000 shares of its common stock issued and outstanding giving the company a market cap of just over $1 million currently. The Board and management feel that forward splitting the shares will increase liquidity in the Company which will give our shareholders added value and thus enable the Company to seek potential new projects. Forward-looking Statements: Some of the statements contained in this press release are forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements, including the risks and uncertainties related to the progress, timing, cost, and results of exploration programs; competition from other exploration or mining companies; and the company's ability to obtain additional funding required to conduct its exploration activities. Please refer to the company's filings with the Securities and Exchange Commission for a comprehensive list of risk factors that could cause actual results, performance or achievements of the company to differ materially from those expressed or implied in such forward looking statements. The company undertakes no obligation to update or revise any forward-looking statements.

2013-12-11 12:08:00+00:00

{"Bitcoin": [2710], "BTC": [2937]}

{}

10 Things You Need To Know This Morning

https://finance.yahoo.com/news/10-things-know-opening-bell-120812668.html

Business Insider

http://www.businessinsider.com/

saving mr banks giamatti thompson REUTERS/ Kevork Djansezian Cast members Paul Giamatti and Emma Thompson attend the film premiere of "Saving Mr. Banks," at the Walt Disney Studios in Burbank, California, December 9, 2013. Good morning. Here's what you need to know. Asian markets were all down in overnight trading. Japan's Nikkei fell 0.62%; Hong Kong's Hang Seng, 1.71%; and the Shanghai, 1.49%. Europe, on the other hand, was slightly up, but U.S. futures were pointing lower. In a rare moment of bipartisanship, Democrats and Republicans agreed on a budget last night, preventing a repeat of October's government shutdown with weeks to spare. The deal — reached by Sen. Patty Murray (D-Wash.) and Rep. Paul Ryan (R-Wis.) — was immediately hailed by both President Obama and Speaker Boehner. The Bipartisan Budget Act of 2013 " sets discretionary spending levels a little above $1 trillion for the next two years, while repealing and replacing some cuts of sequestration," our Brett LoGiurato explains . "In fiscal year 2014, spending is set at $1.012 trillion, which sits about halfway between the proposed levels of the House and Senate budgets. Current law under sequestration calls for caps of $967 billion." The deal still has to pass both chambers by January 15. It seems we have Obamacare to thank for saving the U.S. economy . As our Joe Weisenthal writes, " Because Obamacare has rolled out terribly, Obama's approval ratings are in the toilet. This is a very welcome turn of events for the Republican party, which just over a month ago was in the toilet itself approval-wise. Republicans now have a good hand to play going into next November, and the only way they could obviously screw it up is by doing something stupid like shutting down the government again. So it appears that Republicans are content now to just not rock the boat and get to the next election which they hope will be a big one for them thanks to Obamacare." This budget deal was timely, because at 2:00 p.m. ET the U.S. government will make its monthly budget statement. Economists expect the Treasury to report a budget deficit of $140 billion. Of course, a quiet trend this year has been that the deficit has been shrinking . German consumer price index (CPI) came in at 0.2% month-over-month and 1.3% year-over-year, meeting analyst expectations. The German economy has continued to outperform its European neighbors. Earlier this month, the country's manufacturing sector saw its strongest month since the summer of 2011 . On the opposite end of the European spectrum, Greece reported an unemployment rate of 27.4% , up from 27.3% the previous two months. That rate is more than double the Eurozone average. A lucrative Bitcoin arbitrage opportunity in China has all but disappeared in recent days. " Traders could earn profits by buying bitcoins using dollars on a foreign exchange such as Mt. Gox, reselling them for yuan at the higher price on BTC China, the main local exchange, and finally converting the yuan back to dollars," reports Reuters' Gabriel Wildau. "In recent days, however, the spread between bitcoins as priced in yuan and those priced in dollars has disappeared" after the Chinese government released a statement forbidding local banks from dealing with the digital currency. Italian Prime Minister Enrico Letta asked parliament to support his government and back a spate of reforms he said would boost the country out of the economic doldrums . "H e promised to rein in the deficit, cut Italy's towering public debt, the second highest in the euro zone as a proportion of the overall economy, lower taxes on families and companies, reduce unemployment and boost public investment," Reuters' James Mackenzie reported. " Privatizations would continue and the government would consider allowing employees to buy shares in the post office and other public companies, he said." Costco will report earnings earnings today . Market analysts expect the company to post an EPS of $1.02, up from $0.95 a year ago, and revenue of $25.34 billion on the quarter. Last fiscal year, Costco netted $2.3 billion on membership fees , making up about 75% of its operating income. That huge figure allows the retailer to charge less and tempt customers looking to save money. Government regulators approved the Volcker rule yesterday , a long-in-the-making measure that limits trading activity — specifically proprietary trading activity — at U.S. banks. Standard & Poor's estimates that the rule could shave off $10 billion in yearly pretax profit from the eight largest banks. At 953 pages, " Sure a lot of the Volcker rule is highly over-engineered checklists and admonitions that boil down to 'don't be dumb,' and sure there are good theoretical arguments against that sort of regulation, but I don't know, come on. You shouldn't be dumb," wrote Bloomberg's Matt Levine . "You could do a lot worse than a rule that requires you to think about what you're doing." More From Business Insider 10 Things You Need To Know This Morning 10 Things You Need To Know This Morning 10 Things You Need To Know This Morning

2013-12-11 12:17:30+00:00

{"BTC": [611, 1126, 1767]}

{}

China bitcoin arbitrage ends as traders work around capital controls

https://finance.yahoo.com/news/china-bitcoin-arbitrage-ends-punters-095750480.html

Reuters

http://www.reuters.com/

By Gabriel Wildau SHANGHAI (Reuters) - The price gap between bitcoins trading in Chinese yuan and those sold for other currencies has evaporated in recent days, highlighting the porous nature of China's capital controls. Chinese bitcoin chat rooms buzzed last month as investors noticed that the digital currency as sold on China's biggest exchange was more expensive, in dollar terms, than bitcoins traded abroad using dollars, creating a tempting arbitrage play. Traders could earn profits by buying bitcoins using dollars on a foreign exchange such as Mt. Gox, reselling them for yuan at the higher price on BTC China, the main local exchange, and finally converting the yuan back to dollars. "Insane bitcoin. If you've got dollars, hurry and do arbitrage," a user called 'foxtree' wrote on Weibo, a Twitter-like micro-blogging platform, on November 19, the day the gap peaked at more than 30 percent. A key driver of the price gap was China's capital controls, which make it difficult for speculators to swap yuan proceeds from the sale of high-priced Chinese bitcoins into dollars. "Certainly a portion of the premium on BTC China was a result of the fact that any coins sold would be in RMB, which isn't the most portable currency," said Zennon Kapron, head of Kapronasia, a Hong Kong-based finance and technology consultancy, using an alternate term for the Chinese currency. "So if you did trade that market, getting your money back into another currency is more difficult," he said. RAPID EVOLUTION In recent days, however, the spread between bitcoins as priced in yuan and those priced in dollars has disappeared. An announcement by China's central bank last week forbidding commercial banks from dealing in bitcoin also contributed to the price decline on BTC China. But analysts say the price convergence also reflects the rapid evolution of the bitcoin market, which began with technology enthusiasts but quickly expanded to include those with the financial know-how to evade China's strict capital controls. Story continues A 27-year-old e-commerce professional from the east coast city of Xiamen, who goes by the screen name 'King,' is typical of early-wave amateur punters. He told Reuters that he used RChange, an online currency exchange and payment service based in the Seychelles, to exchange yuan for commercially-operated electronic currencies such as OKPay and EgoPay, which are accepted by several international bitcoin exchanges. But because such currencies carry hefty charges, this method is only profitable when the bitcoin spread is very wide. SOPHISTICATED ARBITRAGEURS Recently, as bitcoin has grown in popularity, more sophisticated arbitrageurs have stepped in. Early this month, Chinese media began reporting that investors from Wenzhou, the east coastal city known for its entrepreneurial and speculative zeal, were piling into bitcoin. Wenzhou's famously tight-knit, business-savvy global diaspora has given rise to the adage "Wherever there's a market, there are Wenzhou people" and offers Wenzhou investors ready access to foreign currency. Some bitcoin speculators are also likely resorting to other tried-and-true methods for skirting China's capital controls. The most common is falsified trade invoices, which disguise movements of speculative cash as payments for goods and services. Indeed, unexpectedly strong export growth in November reignited suspicions that official data had been inflated by fake invoicing. Those suspicions centered on the conversion of dollars to yuan in order to profit from appreciation of the Chinese currency. But the same technique has been used to move funds in the other direction. Mis-invoicing in China resulted in illicit outflows worth $3.79 trillion between 2000 and 2011, according to a report last year by Global Financial Integrity, a think tank and advocacy group in Washington. A Shanghai-based fixed income fund manager dismissed capital controls as a barrier to shifting money around. "All of my clients have plenty of money offshore already," he said. (Additional reporting by Shanghai newsroom; Editing by Richard Borsuk)

2013-12-11 12:17:30+00:00

{"BTC": [611, 1126, 1767]}

{}

China bitcoin arbitrage ends as traders work around capital controls

https://finance.yahoo.com/news/china-bitcoin-arbitrage-ends-punters-095750811.html

Reuters

https://www.reuters.com/

By Gabriel Wildau SHANGHAI (Reuters) - The price gap between bitcoins trading in Chinese yuan and those sold for other currencies has evaporated in recent days, highlighting the porous nature of China's capital controls. Chinese bitcoin chat rooms buzzed last month as investors noticed that the digital currency as sold on China's biggest exchange was more expensive, in dollar terms, than bitcoins traded abroad using dollars, creating a tempting arbitrage play. Traders could earn profits by buying bitcoins using dollars on a foreign exchange such as Mt. Gox, reselling them for yuan at the higher price on BTC China, the main local exchange, and finally converting the yuan back to dollars. "Insane bitcoin. If you've got dollars, hurry and do arbitrage," a user called 'foxtree' wrote on Weibo, a Twitter-like micro-blogging platform, on November 19, the day the gap peaked at more than 30 percent. A key driver of the price gap was China's capital controls, which make it difficult for speculators to swap yuan proceeds from the sale of high-priced Chinese bitcoins into dollars. "Certainly a portion of the premium on BTC China was a result of the fact that any coins sold would be in RMB, which isn't the most portable currency," said Zennon Kapron, head of Kapronasia, a Hong Kong-based finance and technology consultancy, using an alternate term for the Chinese currency. "So if you did trade that market, getting your money back into another currency is more difficult," he said. RAPID EVOLUTION In recent days, however, the spread between bitcoins as priced in yuan and those priced in dollars has disappeared. An announcement by China's central bank last week forbidding commercial banks from dealing in bitcoin also contributed to the price decline on BTC China. But analysts say the price convergence also reflects the rapid evolution of the bitcoin market, which began with technology enthusiasts but quickly expanded to include those with the financial know-how to evade China's strict capital controls. Story continues A 27-year-old e-commerce professional from the east coast city of Xiamen, who goes by the screen name 'King,' is typical of early-wave amateur punters. He told Reuters that he used RChange, an online currency exchange and payment service based in the Seychelles, to exchange yuan for commercially-operated electronic currencies such as OKPay and EgoPay, which are accepted by several international bitcoin exchanges. But because such currencies carry hefty charges, this method is only profitable when the bitcoin spread is very wide. SOPHISTICATED ARBITRAGEURS Recently, as bitcoin has grown in popularity, more sophisticated arbitrageurs have stepped in. Early this month, Chinese media began reporting that investors from Wenzhou, the east coastal city known for its entrepreneurial and speculative zeal, were piling into bitcoin. Wenzhou's famously tight-knit, business-savvy global diaspora has given rise to the adage "Wherever there's a market, there are Wenzhou people" and offers Wenzhou investors ready access to foreign currency. Some bitcoin speculators are also likely resorting to other tried-and-true methods for skirting China's capital controls. The most common is falsified trade invoices, which disguise movements of speculative cash as payments for goods and services. Indeed, unexpectedly strong export growth in November reignited suspicions that official data had been inflated by fake invoicing. Those suspicions centered on the conversion of dollars to yuan in order to profit from appreciation of the Chinese currency. But the same technique has been used to move funds in the other direction. Mis-invoicing in China resulted in illicit outflows worth $3.79 trillion between 2000 and 2011, according to a report last year by Global Financial Integrity, a think tank and advocacy group in Washington. A Shanghai-based fixed income fund manager dismissed capital controls as a barrier to shifting money around. "All of my clients have plenty of money offshore already," he said. (Additional reporting by Shanghai newsroom; Editing by Richard Borsuk)

2013-12-11 16:00:00+00:00

{"Bitcoin": [314, 353, 535, 711, 1014]}

{"Bitcoin": [126]}

Mastercoin Foundation, Bitshares and ColoredCoins Form Self-Regulatory Organization to Ensure Continued Free Operation of New Bitcoin Applications and Protocols

https://finance.yahoo.com/news/mastercoin-foundation-bitshares-coloredcoins-form-160000194.html

Marketwired

http://www.marketwired.com/

LAS VEGAS, NV--(Marketwired - Dec 11, 2013) - INSIDE BITCOINS - Mastercoin Foundation, Invictus Innovations (Bitshares, Protoshares), and ColoredCoins have announced the formation of a self-regulatory organization (SRO) to ensure the continued free operation of new decentralized applications and protocols in the Bitcoin ecosystem. The rapid growth of Bitcoin has led to the building of additional user layers and interfaces, including non-currency uses such as securities, lending, trading assets, bartering and prediction markets. "Bitcoin technology can be used to disrupt many other market segments," said Daniel Larimer, CEO of Invictus Innovations. "CoDA's mission is to enlist the full resources of the Bitcoin community toward future innovation, while protecting new business models from excessive regulation." CoDA ( http://www.coda.co ) is a membership organization based in Washington, DC, protecting the rights of developers, entrepreneurs and users alike. Expanding upon the scope of groups like the Bitcoin Foundation, DATA and Electronic Frontier Foundation, CoDA is based on what it believes are essential freedoms of the computer age: freedom to communicate freedom to participate in open-source software freedom to freely exchange digital value Individuals interested in the benefits of decentralized protocols and applications can join the global organization. For more information, please contact [email protected] . About Mastercoin Foundation The Mastercoin Foundation is a non-profit organization whose mission is to enable and accelerate innovation worldwide by building a technological crowd-sourcing platform for community projects, coupled with a rich financial-exchange system and liquidity layer. Members use the Mastercoin Open Source Project and Protocol precedents as benchmarks for their enforcement standards. For more information, please visit http://www.mastercoinfoundation.org . About Invictus Innovations Invictus Innovations is building decentralized solutions for centralized problems such as identity, prediction markets, domain name registration and other use cases. The company is based in Blacksburg, VA, and created Bitshares, a decentralized bank and exchange. About ColoredCoins ColoredCoins is an open-source project whose mission is to (1) Standardize: build a strong core of Colored Coins developers making compatible projects by following a universal standard, (2) Promote: spread the word and guide the community about the merits of Colored Coins and how they can be used, and (3) Support: gather donations for funding new and existing Colored Coins projects. Colored Coins' open source project works with other related projects, including Mastercoin, on developing a solid legal framework for these types of projects, including issuing a dedicated Color to bridge between the two initiatives.

2013-12-11 18:16:00+00:00

{"Bitcoin": [34, 294, 352, 810, 1055, 1109, 1446, 1548, 1715, 2199, 2358, 2478, 2752, 2819, 2890, 2935, 3218, 3329, 3394, 3577, 3623, 3669, 3847, 3924, 4381, 4668, 4746, 4934, 4964, 5063, 5548, 5875, 5971, 6277, 6695, 7006, 7129, 7296, 7365, 7533, 7642, 7796, 7807, 8201, 8371, 9056, 9308, 9486, 9552, 9693, 9817, 9837, 10227, 10448, 10937, 11116, 11232, 11330, 11504, 11622, 12032, 12112, 12184, 12247, 12323], "BTC": [5176, 5227, 5297, 10432, 10629]}

{"Bitcoin": [5]}

What Bitcoin Arbitrage Can Teach Us About the Crypto-Currency

https://finance.yahoo.com/news/bitcoin-arbitrage-teach-us-crypto-181600650.html

Minyanville

http://www.minyanville.com/

Parabolic appreciation has thrown Bitcoin back into the spotlight, as Chinese demand for the crypto-currency sent it to an all-time high of $1,260 last Wednesday, up from $200 six weeks ago. A quick rise gave way to a steep dive after China announced a ban on financial institutions conducting Bitcoin transactions and Baidu ( BIDU ) stopped accepting Bitcoin payments at the end of last week. The digital currency crashed, dipping below $600 on some exchanges. Positive guidance from Bank of America ( BAC ), which said the currency could become a major form of transaction and gave it a $1,300 price target, and from Citigroup (NYSE:C) which suggested the currency could attract reserve managers as a complement to gold, didn't buffer the free fall at the time. Although over the weekend and into this week, Bitcoin prices have recovered and are now trading in the high $900s. Volatility like that in markets that are regulated and not plagued by questions of legitimacy, sustainability, and safety, can be troubling. In barely-regulated, decentralized Bitcoin markets, the risk is incalculable. So how are Bitcoin traders -- yes, they do exist -- supposed to manage? The same way investors manage turbulent established markets: arbitrage. It's a practice as old as markets themselves -- an academic paper published in the Oregon Law Review traces put-call parity back to ancient Israel; others have found evidence of arbitrage in Mesopotamia. Bitcoin has provided no exception. Writing for ForexMagnates.com, Steve Hatzakis explains how nascent Bitcoin markets have provided ample opportunity for people to exploit price differences, in what's also known as "scalping." Disparity between prices on the different Bitcoin exchanges is significant, especially when compared to traditional equities and commodities markets: Normally this pricing challenge isn't as pronounced (or even existent) with certain exchange traded securities or assets that are priced under any applicable best-execution regulations...Such opportunities in more developed markets are not only rarer and infrequent, but even more fleeting. Story continues Incidentally, people have been taking advantage of inefficiencies in Bitcoin markets for some time now. Hank Stoever, a Seattle-based software engineer currently crowdfunding an open-source project to teach people how to create Bitcoin arbitrage programs, says he's seen arbitrage activity happening for years. "The Internet is full of examples of Bitcoin arbitrage bots and discussions circa 2009," Stoever says. "So, there are definitely a lot of people out there doing it...in the past few months, my open-source project and blog posts have received continual boosts in traffic, likely due to the increased interest in Bitcoin." Open-source algorithms like Stoever's are popular in the Bitcoin community. A quick search for algorithms across popular online Bitcoin forums, like bitcointalk.org or the "Bitcoinmarkets" subreddit, will return posts upon posts of novice Bitcion traders seeking an introduction to algorithmic arbitrage, and a slew of programmers, like Stoever, promoting their open-source bots. On his blog , Stoever lays out a basic scenario where a trader could employ Bitcoin arbitrage. To paraphrase: Imagine the US government declares financial gains and deposits made through Bitcoin will remain untaxed forever. In turn, people rush to buy Bitcoin on the common exchanges, where liquidity may be higher and transactions are easier to conduct. Say that exchange is the Slovenia-based Bitstamp, at present one of the largest Bitcoin exchanges in the world. As people buy Bitcoins on Bitstamp, they drive the price of Bitcoins higher. Simultaneously, on a smaller exchange with lower volume like the Alpharetta, Georgia-based CampBx, prices are slower to react. For the next hour, the price of a Bitcoin on Bitstamp remains higher than on CampBx, allowing someone to buy a Bitcoin on CampBx at a lower price and sell it on Bitstamp at a higher price, locking in a risk-free profit. This process is no different from basic currency arbitrage, where a currency is bought and sold from different brokers to exploit price disparity. Braden Perry, a former senior trial attorney with the Commodity Futures Trading Commission (CFTC), which regulates Forex trading in the US, says he sees similarities between the early Forex market and Bitcoin markets. "Forex essentially started the same way, and it has become automated to the point that its an extremely efficient system and people can do millions of transactions instantaneously to capture small spreads at a large scale. Right now on Forex it's efficient to do that." Bitcoin is a different story. The large spreads between the leading US dollar Bitcoin exchanges (seen below) can seem like an attractive opportunity to squeeze a profit. But according to Félix Moreno, a portfolio manager at RF Trading in Madrid, Spain, who follows Bitcoin closely and practices Bitcoin arbitrage, taking advantage of these asynchronous markets can be problematic. There are 84 Bitcoin exchanges currently operating. However, a mere four account for nearly all of the global trading volume: BTC China (35%), Mt.Gox (22%), Bitstamp (19%), and BTC-e (18%). Activity in the three US dollar exchanges (which exclude BTC China) is shown here. (Source:bitcoincharts.org.) "There is a reason why there's such a large spread between exchanges. It's because there is a huge inefficiency in the way money goes in and out of them. It is extremely easy, for instance, to buy Bitcoins in Bitstamp where they are cheaper than Mt.Gox and send them to Mt.Gox where you can sell them for a higher price. But then, you can't actually get the money out of Mt.Gox to get a turnaround." The Japan-based Mt.Gox exchange has arguably been the most high-profile example of how government regulations have crippled Bitcoin exchanges in the US. At one point, Mt.Gox was responsible for four-fifths of all global Bitcoin trading . Earlier this year, the Department of Homeland Security seized a total of $5 million from Mt.Gox after the exchange failed to register in the US as a money transmitting company. In June, Mt.Gox US temporarily suspended US dollar withdrawals claiming it did not have enough cash to convert Bitcoins. Transfers were markedly slower when withdrawals services resumed two weeks later, and they've been sluggish ever since. Trading activity on Mt.Gox has since plummeted by roughly 75%. Mt. Gox isn't the only exchange that's been targeted by the US government. The Treasury Department ''s Financial Crimes Enforcement Network (FinCen), forced the now-defunct exchange TradeHill, at one point the second largest Bitcoin exchange in the world, to shut down in 2012. Writing for The Guardian , Jerry Brito explains regulations that include " federal anti-money laundering and terrorist financing rules, as well as the cumbersome state-by-state licensing of money transmitters" have given government agencies reason to pursue Bitcoin businesses including exchanges. Not surprisingly, this attention from local and federal government has slowed down Bitcoin trading in the US. Moreno explains that it can take weeks to get money out of Mt.Gox, as this forum titled "MtGox bitcoin withdrawal delay >:(" on the popular Bitcoin message board site bitcointalk.org confirms. The reason that Bitcoins are trading at such high premium on Mt.Gox is because money is "trapped" on the Mt.Gox exchange. The only way people can get their money out is in the form of Bitcoins, creating the demand which has inflated the price. Liquidity factors into the issues that can deter Bitcoin arbitrageurs from scalping the markets. In addition, unpredictable volatility and the high fees for withdrawal can wipe out any profits made from Bitcoin-to-Bitcoin arbitrage. "I've done arb myself with small amounts of money," Moreno explains. "But I've found there had to be at least a 15% difference between Bitstamp and Mt.Gox for it to be worth it. Really, even if it were 10%, you're taking too much risk. In the time it takes to move money from one [exchange] to the other, the price is going to move too much." Instead of playing the price of Bitcoin across exchanges, Moreno favors another means of facilitating arbitrage: through open outcry. Localbitcoins.com is a website where people looking to buy and sell Bitcoins organize in-person meet-ups with individuals or groups of people to conduct bid-ask exchanges. While technology has quieted 100-year-old open-outcry trading pits on the floors of equity, commodity, and futures exchanges around the world, ironically a currency born of technology has spurred a reemergence of the practice. Source: Reddit.com "It's much easier to get onto localbitcoins.com than to get onto an exchange," Moreno says of the barriers to entry. There are "know your customer" (KYC) and "anti-money laundering" (AML) compliance regulations one must submit to before joining many exchanges. Localbitcoins.com also offers an online store, where you can buy and sell Bitcoins over the Internet person to person. "You have to send an copy of your ID, you're going to have to register, whereas with localbitcoins.com, you're just posting ads so all you need is an email address...you can call it a sort of craigslist for Bitcoin." While using localbitcoins.comvprovides less friction than trading from exchange to exchange, it might not be where the best opportunities lie. Taariq Lewis, founder of Bitcoin Business, an advisory service that helps merchants set up Bitcoin payments, explains that as more and more people jump into and go long in Altcoins -- crypto-currencies that serve as alternatives to Bitcoin -- the more chances there are to conduct arbitrage on a single exchange rather than move between exchanges to trade Bitcoin. Altcoin-to-Bitcoin arbitrage, and Altcoin-to-Altcoin arbitrage for that matter, look a lot less like the currency arbitrage that's been discussed so far, and a lot more like statistical arbitrage, or pair trading. Pair trading is the buying or selling of two stocks with a historical correlation, and taking advantage of that correlation to predict future movement between them and lock in profit. As Bitcoin has grown in popularity, Altcoins like Peercoin, Securecoin, Quarkcoin, and Feathercoin have emerged in the margins, with a growing number beginning to trade on major exchanges like Bulgaria-based BTC-e alongside Bitcoin. "Arbitrage trading really works when there are already Altcoins available to trade against, and there are price differences between them, Lewis says. "What we find is that BTC-e is currently the arbitrage king...because they are quick to offer trading in Altcoins that you might not be able to trade elsewhere, or newly launched coins that are increasing in popularity." Imaginably, with this growing popularity of Altcoins, more and more opportunities will present themselves to Bitcoin arbitrage traders out there trying to squeeze a profit from crypto-currencies. Predicting their behavior is made a little harder, though, by the fact that the identity of Bitcoin users remains anonymous if they so choose. So Who Are These Traders? Before jumping into any arbitrage with Bitcoins, an investor might want to know who is on the other side of a trade. Who are the typical Bitcoin swappers? Are they traditional traders and investors? Or engineers and computer programmers? The aforementioned Stoever, whose online, crowdfunded course on building Bitcoin arbitrage bots is currently half funded, is able to give us a clue: It's a more technical crowd that attracts Bitcoin. Personally, I was an economics major that later shifted into a software career...I've been surveying the people who have preordered my course and the results are interesting. Seventy-seven percent of people have programming experience and 70% have finance experience. So it turns out that a lot of these people are very similar to myself in that they have a mixed bag of relevant skills, which is why Bitcoin is so attractive. For those interested in a more more technical look at Bitcoin arbitrage, check out Stoever's blog post explaining math behind Bitcoin arbitrage yields. See also: Can a Value Investor Buy a Bitcoin? Twitter: @brokawbrokaw Related Articles Can a Value Investor Buy a Bitcoin? Todd Harrison: The Holiday Party Indicator Flashes a Sell Signal 10 Companies Whose Customers Do the Advertising for Them

2013-12-11 19:00:00+00:00

{"Bitcoin": [446, 926]}

{}

NXT-ID (NXTD) - Upcoming Release of Wocket(TM) Taps Into Ramping Demand for Digital Wallets and Currencies

https://finance.yahoo.com/news/nxt-id-nxtd-upcoming-release-190000989.html

Marketwired

http://www.marketwired.com/

BOSTON, MA--(Marketwired - Dec 11, 2013) - SoundView Technology Group: New research note points to recent industry developments as important drivers to adoption of the upcoming NXT-ID ( OTCQB : NXTD ) Wocket. Over 7 million consumers have watched a marketing video for a new digital wallet with a very limited feature set. Consumer interest in this product area is high and accelerating. The commercial development of new digital currencies like Bitcoin has continued despite extreme price volatility. Industry leaders from companies like PayPal have acknowledged the value and viability of the new currency. At the same time mainstream venture capital firms like Andreesen Horowitz have stepped up their efforts to find "major bets" to make in this new market. These industry developments increase our confidence and enthusiasm for the NXT-ID (NXTD) Wocket™ both as a digital wallet and a potential secure storage option for Bitcoins. As we outline in our note, the Wocket has a much more robust design in terms of security and usability. We see the following as key advantages for the NXT-ID Wocket: Security : Using a secure chip the Wocket can store 100s of cards and digital records. Authentication is multi-factor and includes biometrics. Cards go into the Wocket directly without involving unsecure intermediate steps. Usability : The Wocket includes an ultra-lower power touchscreen display in addition to the dynamic magnetic stripe as both a UI and QR-code mechanism. A combination of power management, in-wallet charging and standard battery means that consumers won't have to fear a "dead wallet." Flexibility : Rather than being tied to a phone or platform the Wocket can be paired with any device either locally or in the cloud when secure protocols are available. This dynamic pairing is a key feature of the NXT-ID approach and is a powerful and highly differentiated aspect of their technology. NXT-ID is an early stage technology company going after a large market. Based on initial traction and a conservative intrinsic valuation (IV) model show a fair value of $11/share we see the company continuing to benefit from intensive investor attention to this space. Story continues Our full report is available for download here: http://s3.amazonaws.com/Published_Research/NXT-ID_NXTD_NOTE_DEC_2013.pdf About SoundView Technology Group We are an independent advisory and research firm specializing in emerging technologies as they reach commercialization. Our proprietary research and modeling work provides valuable information for company management teams and investors in these emerging opportunities. We regularly publish our findings across a variety of channels including all the major retail and institutional information outlets. SoundView is based in Boston, Massachusetts with locations in New York and Connecticut. Disclosures SoundView analysts do not receive compensation for their research opinions, any specific views or conclusions. They are tasked to provide fact-based research with sound analysis. SoundView does not provide investment advice or make "buy/sell/hold" recommendations. Nor do we provide investment banking or brokerage services. We act as a publisher of our own research work and are responsible for all content which is correct to the best of our abilities but by no means should it be relied upon without further validation and confirmation. SoundView provides paid advisory services NXT-ID on their business plans, technology description and investor positioning

2013-12-11 19:00:00+00:00

{"Bitcoin": [446, 926]}

{}

NXT-ID (NXTD) - Upcoming Release of Wocket(TM) Taps Into Ramping Demand for Digital Wallets and Currencies

https://finance.yahoo.com/news/finance.yahoo.com/news/nxt-id-nxtd-upcoming-release-190000989.html

Marketwired

http://www.marketwired.com/

BOSTON, MA--(Marketwired - Dec 11, 2013) - SoundView Technology Group: New research note points to recent industry developments as important drivers to adoption of the upcoming NXT-ID ( OTCQB : NXTD ) Wocket. Over 7 million consumers have watched a marketing video for a new digital wallet with a very limited feature set. Consumer interest in this product area is high and accelerating. The commercial development of new digital currencies like Bitcoin has continued despite extreme price volatility. Industry leaders from companies like PayPal have acknowledged the value and viability of the new currency. At the same time mainstream venture capital firms like Andreesen Horowitz have stepped up their efforts to find "major bets" to make in this new market. These industry developments increase our confidence and enthusiasm for the NXT-ID (NXTD) Wocket™ both as a digital wallet and a potential secure storage option for Bitcoins. As we outline in our note, the Wocket has a much more robust design in terms of security and usability. We see the following as key advantages for the NXT-ID Wocket: Security : Using a secure chip the Wocket can store 100s of cards and digital records. Authentication is multi-factor and includes biometrics. Cards go into the Wocket directly without involving unsecure intermediate steps. Usability : The Wocket includes an ultra-lower power touchscreen display in addition to the dynamic magnetic stripe as both a UI and QR-code mechanism. A combination of power management, in-wallet charging and standard battery means that consumers won't have to fear a "dead wallet." Flexibility : Rather than being tied to a phone or platform the Wocket can be paired with any device either locally or in the cloud when secure protocols are available. This dynamic pairing is a key feature of the NXT-ID approach and is a powerful and highly differentiated aspect of their technology. NXT-ID is an early stage technology company going after a large market. Based on initial traction and a conservative intrinsic valuation (IV) model show a fair value of $11/share we see the company continuing to benefit from intensive investor attention to this space. Story continues Our full report is available for download here: http://s3.amazonaws.com/Published_Research/NXT-ID_NXTD_NOTE_DEC_2013.pdf About SoundView Technology Group We are an independent advisory and research firm specializing in emerging technologies as they reach commercialization. Our proprietary research and modeling work provides valuable information for company management teams and investors in these emerging opportunities. We regularly publish our findings across a variety of channels including all the major retail and institutional information outlets. SoundView is based in Boston, Massachusetts with locations in New York and Connecticut. Disclosures SoundView analysts do not receive compensation for their research opinions, any specific views or conclusions. They are tasked to provide fact-based research with sound analysis. SoundView does not provide investment advice or make "buy/sell/hold" recommendations. Nor do we provide investment banking or brokerage services. We act as a publisher of our own research work and are responsible for all content which is correct to the best of our abilities but by no means should it be relied upon without further validation and confirmation. SoundView provides paid advisory services NXT-ID on their business plans, technology description and investor positioning

2013-12-11 19:54:43+00:00

{"Bitcoin": [0, 193, 320, 426, 630, 751, 759, 826]}

{"Bitcoin": [4]}

Why Bitcoin Is Better Than Other Currencies

https://finance.yahoo.com/news/why-bitcoin-better-other-currencies-195443987.html

Entrepreneur

http://www.entrepreneur.com/

Bitcoin may be the "it" currency right now, but, truth is, people have used all sorts of odd things to buy and sell goods, from bones to gold to tulips to Deutsche Marks. The question is, will Bitcoin last like gold, or fade like tulips? The Foundation for Economic Education produced a neat video that seems to suggest Bitcoin is here to stay, at least when you look at what properties a sustainable currency needs. In fact, Bitcoin looks a lot better than the greenback. It's uncertain whether it is a fad or the way the world will trade goods and services. But, after watching this, you can't help but have a lot more faith in Bitcoin than in fiat currency. More From Entrepreneur SecondMarket CEO: Wall Street Will Put 'Hundreds of Millions' Into Bitcoin Bitcoin Gets Slammed by China as BofA Touts its Potential How Did 'Bitcoin Jesus' Become a Virtual Currency Millionaire?

2013-12-11 20:30:00+00:00

{"Bitcoin": [42, 549, 637, 748, 962, 1246, 1291, 1503, 1798, 2069, 2791, 3213, 3415, 3526, 3724, 3830, 4016, 4301, 4507, 4661, 4746]}

{"Bitcoin": [67]}

SecondMarket CEO: Wall Street Will Put 'Hundreds of Millions' Into Bitcoin

https://finance.yahoo.com/news/finance.yahoo.com/news/secondmarket-ceo-wall-street-put-203000747.html

Entrepreneur

http://www.entrepreneur.com/

Wall Street is getting ready to dive into Bitcoin , pouring vast amounts of institutional and investor money into the digital currency that has been labeled a "bubble" by former Federal Reserve chairman Alan Greenspan and which not long ago was seen as the sole preserve of crypto-geeks, monetary-theory wonks and anti-government types. So says Barry Silbert, founder and chief executive of SecondMarket, the online platform that allows its users to trade private company stocks. "We're three to six months away from Wall Street dollars moving into Bitcoin in a big way," he says. Silbert should know: Earlier this fall, he launched the Bitcoin Investment Trust , the first investment vehicle allowing institutional investors to put money into the Bitcoin market while avoiding the hassle of personally holding the currency. The trust is open only to accredited investors, and the minimum investment is $25,000. Speaking on Tuesday night at a private dinner for Bitcoin cognoscenti in New York, Silbert said he was astonished by the BIT's performance. "We launched six weeks ago and we're up to $70 million. That blows my mind. We were hoping to get to $10 million by the end of the year." The value of the BIT derives entirely from the price of Bitcoin; it has benefited in recent weeks as Bitcoin soared north of $1,200. Because of a recent dip, the net assets of the trust now stand at about $63 million, which means it is holding that dollar value in bitcoins. Related: SecondMarket Establishes New Bitcoin Trust for Accredited Investors Silbert says he meets frequently with hedge fund workers, traders at large financial institutions and others who want to gain a better understanding of digital currencies and figure out how to capitalize on them. He reckons that Wall Street will enter the Bitcoin market in roughly three waves. The first is already beginning, and it's taking the form of IRA money. Customers with self-directed IRAs at Fidelity, Pensco Trust Company, The Entrust Group and Millenium Trust Company are now able to invest some of their money in Bitcoin via the BIT. Silbert expects most other IRAs to approve the BIT as an investment vehicle before the second quarter of next year, in response to growing interest from their customers. Story continues Also in this first wave will be clients of the wealth-management arms of Wall Street banks. Silbert says the BIT is in conversations with "several major banks" and he expects the trust to be an approved product on their wealth-management platforms within the first half of 2014. The second wave will be hedge funds and other institutional investors. "The principals that work at all those firms are starting to invest personally in the BIT," Silbert says. Anecdotally, he adds, it's clear they are investing in the Bitcoin market through other platforms as well. With traders, portfolio managers and executives all gaining interest, it appears to be only a matter of time before their firms follow suit and take a position in the digital currency. The third wave will be Wall Street banks themselves, motivated purely by profit, says Silbert. "These banks already have large teams trading dollars and euros and yen and gold. Ultimately, Bitcoin is no different than those" as far as forex and commodities traders are concerned, he says. And indeed, currency strategists at Bank of America issued a note to clients last Thursday talking up Bitcoin's potential and analyzing its fair market value. While most institutional investors are keeping mum on Bitcoin for the time being, the head of one firm has been outspoken about his faith in the cryptocurrency. Michael Novogratz, the co-chief investment officer of macro funds at Fortress, plumped for Bitcoin at a conference held in New York on Oct. 24. He recommended that investors "put a little money in Bitcoin," saying its value would appreciate significantly over the next few years. At the time, the price of a single bitcoin was less than $200 on most exchanges. "I have a nice little Bitcoin position," Novogratz said at the conference. "Enough that I'm smiling that it doubled." One can imagine how that smile must have widened in the weeks since. But it's hard to say where the price will be a month or six months from now. Although right now Silbert is happy to see Bitcoin performing above his expectations, in the near term "the price volatility is only going to get worse," he says. "We haven't seen anything yet." He added, "Once Wall Street starts putting money into Bitcoin -- we're talking about hundreds of millions, billions of dollars moving in -- it's going to have a pretty dramatic effect on the price." Related: Bitcoin Gets Slammed by China as BofA Touts Its Potential More From Entrepreneur Why Bitcoin Is Better Than Other Currencies AMC Offers Loyal Customers Stock in Upcoming IPO Here Is How to Get a VC's Attention

2013-12-11 20:51:49+00:00

{"Bitcoin": [88, 360, 599, 811, 1301, 1381, 1781, 3957, 4066]}

{"Bitcoin": [0]}

Bitcoin fund raises $65 mln after first two months, founder says

https://finance.yahoo.com/news/finance.yahoo.com/news/bitcoin-fund-raises-65-mln-205149343.html

Reuters

https://www.reuters.com/

By Emily Flitter NEW YORK (Reuters) - A fund established to offer investors exposure to Bitcoin is holding around $65 million in the digital currency after two months in operation, its creator, SecondMarket Chief Executive Officer Barry Silbert, said on Wednesday. Silbert told a group of journalists at his company's New York headquarters the fund, named the Bitcoin Investment Trust, has 90 investors, among them hedge fund traders and private family investment firms. Using investor contributions and seed money of more than $2 million from SecondMarket, the BIT, as it is known, has been buying Bitcoins from a wide array of sources, including exchanges, merchants and individual users. The fund is also buying the digital currency from "miners," who are producing it by running programs that interact with Bitcoin's software to make new units of the currency. The BIT is structured like an electronically traded fund and modeled, according to Silbert, after one of the most prominent gold ETFs, but it is not publicly traded and will not be for several more years. SecondMarket launched the fund at the end of September. As the value of the floating currency, which is not governed by any central bank or company, increases, shares in the BIT will increase in value too. The price of one unit of Bitcoin was listed at $920 on the website of Mt.Gox, a firm that buys and sells Bitcoin in exchange for dollars and other currencies. A month ago, on November 11, it was $361, according to Mt.Gox. The most direct competition with Silbert's fund comes from Cameron and Tyler Winklevoss, the twin brothers famous for their legal battle with Mark Zuckerberg over the founding of Facebook. The two announced earlier this year they would launch a publicly traded ETF called Winklevoss Bitcoin Trust. They are awaiting approval from the U.S. Securities and Exchange Commission. Silbert said he decided not to wait for SEC approval to launch SecondMarket's fund because it could take years. SecondMarket is known as a platform for selling and trading private investments. Story continues In a statement to Reuters on Wednesday Cameron Winklevoss said: "We designed our product to allow all investors to be able to invest and believe that SEC review is an important part of the process. "Trading on an exchange as a public vehicle removes friction and provides shareholders with liquidity and transparency," he added. SecondMarket was one of the two most prominent places to trade shares of Facebook before the social media company's initial public offerings debuted. Silbert said early next year BIT investors will be able to begin trading in shares of the fund on a limited basis through a process similar to the pre-IPO Facebook trading. JOBS ACT BOOST Silbert said new SEC rules stemming from a 2012 law known as the JOBS Act, which lifted the ban on advertising by private investment companies, have helped draw new customers to the fund. "We knew the JOBS Act was a big opportunity," Silbert said, adding the new advertising freedoms had allowed SecondMarket to start a website displaying the fund's performance and to describe the fund to a wider pool of potential investors. "It's been huge." People whose personal wealth meets certain standards can now buy into the fund through three brokerages selling shares in it to customers with self-directed Individual Retirement Accounts. Fidelity last week became the latest brokerage to begin selling BIT shares, joining Pensco and Entrust. To invest in the BIT, individuals have to prove their net worth is $1 million, not counting primary residence, or that they draw annual incomes of more than $200,000. The minimum buy-in amount is $25,000. Critics have said the JOBS Act will expose more people with fragile finances to potential scams or simply to deals with a high likelihood of collapse. Silbert said SecondMarket tries to determine whether potential investors can handle the risks of investing in the Bitcoin fund before describing the fund in detail to them. "It's still a really risky investment," he said. "Bitcoin might still go away." (Reporting By Emily Flitter; Editing by Kenneth Barry)

2013-12-11 20:51:49+00:00

{"Bitcoin": [88, 360, 599, 811, 1301, 1381, 1781, 3957, 4066]}

{"Bitcoin": [0]}

Bitcoin fund raises $65 mln after first two months, founder says

https://finance.yahoo.com/news/bitcoin-fund-raises-65-mln-205149343.html

Reuters

https://www.reuters.com/

By Emily Flitter NEW YORK (Reuters) - A fund established to offer investors exposure to Bitcoin is holding around $65 million in the digital currency after two months in operation, its creator, SecondMarket Chief Executive Officer Barry Silbert, said on Wednesday. Silbert told a group of journalists at his company's New York headquarters the fund, named the Bitcoin Investment Trust, has 90 investors, among them hedge fund traders and private family investment firms. Using investor contributions and seed money of more than $2 million from SecondMarket, the BIT, as it is known, has been buying Bitcoins from a wide array of sources, including exchanges, merchants and individual users. The fund is also buying the digital currency from "miners," who are producing it by running programs that interact with Bitcoin's software to make new units of the currency. The BIT is structured like an electronically traded fund and modeled, according to Silbert, after one of the most prominent gold ETFs, but it is not publicly traded and will not be for several more years. SecondMarket launched the fund at the end of September. As the value of the floating currency, which is not governed by any central bank or company, increases, shares in the BIT will increase in value too. The price of one unit of Bitcoin was listed at $920 on the website of Mt.Gox, a firm that buys and sells Bitcoin in exchange for dollars and other currencies. A month ago, on November 11, it was $361, according to Mt.Gox. The most direct competition with Silbert's fund comes from Cameron and Tyler Winklevoss, the twin brothers famous for their legal battle with Mark Zuckerberg over the founding of Facebook. The two announced earlier this year they would launch a publicly traded ETF called Winklevoss Bitcoin Trust. They are awaiting approval from the U.S. Securities and Exchange Commission. Silbert said he decided not to wait for SEC approval to launch SecondMarket's fund because it could take years. SecondMarket is known as a platform for selling and trading private investments. Story continues In a statement to Reuters on Wednesday Cameron Winklevoss said: "We designed our product to allow all investors to be able to invest and believe that SEC review is an important part of the process. "Trading on an exchange as a public vehicle removes friction and provides shareholders with liquidity and transparency," he added. SecondMarket was one of the two most prominent places to trade shares of Facebook before the social media company's initial public offerings debuted. Silbert said early next year BIT investors will be able to begin trading in shares of the fund on a limited basis through a process similar to the pre-IPO Facebook trading. JOBS ACT BOOST Silbert said new SEC rules stemming from a 2012 law known as the JOBS Act, which lifted the ban on advertising by private investment companies, have helped draw new customers to the fund. "We knew the JOBS Act was a big opportunity," Silbert said, adding the new advertising freedoms had allowed SecondMarket to start a website displaying the fund's performance and to describe the fund to a wider pool of potential investors. "It's been huge." People whose personal wealth meets certain standards can now buy into the fund through three brokerages selling shares in it to customers with self-directed Individual Retirement Accounts. Fidelity last week became the latest brokerage to begin selling BIT shares, joining Pensco and Entrust. To invest in the BIT, individuals have to prove their net worth is $1 million, not counting primary residence, or that they draw annual incomes of more than $200,000. The minimum buy-in amount is $25,000. Critics have said the JOBS Act will expose more people with fragile finances to potential scams or simply to deals with a high likelihood of collapse. Silbert said SecondMarket tries to determine whether potential investors can handle the risks of investing in the Bitcoin fund before describing the fund in detail to them. "It's still a really risky investment," he said. "Bitcoin might still go away." (Reporting By Emily Flitter; Editing by Kenneth Barry)

2013-12-11 21:25:00+00:00

{"Bitcoin": [58, 548, 668, 820, 1473, 1532, 1577, 1720, 1817, 1892, 1953, 2005, 2420, 2461]}

{"Bitcoin": [52]}

This Website Advertises A Bunch Of Jobs That Pay In Bitcoin

https://finance.yahoo.com/news/finance.yahoo.com/news/website-advertises-bunch-jobs-pay-212545411.html

Business Insider

http://www.businessinsider.com/

coinality Coinality Despite violent price fluctuations in Bitcoin, it's becoming increasingly common for individuals to take their salary in the digital currency. More than 1,000 people have now registered for Coinality.com , a site launched in September that advertises jobs that pay in digital currencies. At least 700 people have submitted applications for 350 positions, which can range from Chief Compliance Officer at a bitcoin trading platform, to programmers familiar with the customizable part of the Blockchain, the master ledger for all Bitcoin transactions. More than 200 people have looked at a marketing position for an independent filmmaker that pays 3 Bitcoin for three months' work . Although digital currency-related job postings can be found elsewhere, and individuals active in the sphere have taken Bitcoin as salaries for at least months, this appears to be the first site exclusively devoted to both. The site was created by Dan Roseman, a web developer based in Orange County, California who left law school in 2011 after just a year after not finding it to his liking. The site is not yet a full-time gig, and Roseman says he has no plans to monetize it, and for now will rely on donations (bitcoin, of course, is accepted). "It's just a service that's free to use," he told us by phone recently. That could change if the site blows up, he added. In fact, most major digital currency players give their employees the option to take their salary in Bitcoin. That's true of Bitpay, one of the world's largest Bitcoin transaction processing sites. At The Bitcoin Foundation, an organization that serves as an unofficial custodian for the cryptocurrency. All employees there get paid exclusively in Bitcoin, a foundation rep told us. It's also increasingly common overseas, where the majority of Bitcoin web development has taken place. According to Martti Malmi, one of Bitcoin's earliest programmers, executives at Bitstamp, LocalBitcoins and Finnish site Bittiraha all get paid in Bitcoin . Malmi himself said he does too. Story continues Finally, of course there's the Kentucky police chief we just profiled who looks to be one of the first people in his state to do so. But all the stuff above shows the phenomenon is hardly a stunt. More From Business Insider Boehner Unloads At Conservative Groups That Oppose The Budget Deal: 'This Is Ridiculous!' You Should Probably Ignore That 'JP Morgan Bitcoin' Patent — It's Over A Decade Old Bitcoin Jesus Appears On Bloomberg

2013-12-12 17:15:00+00:00

{"Bitcoin": [43, 109, 281, 357, 435, 777, 1018, 1585, 1708, 1806, 1818]}

{"Bitcoin": [42]}

Coinbase Nets $25 Million in Largest Ever Bitcoin Fundraise

https://finance.yahoo.com/news/finance.yahoo.com/news/coinbase-nets-25-million-largest-171500103.html

Entrepreneur

http://www.entrepreneur.com/

Wall Street may be gearing up to enter the Bitcoin market in a big way, but Silicon Valley is already there. Bitcoin exchange and wallet service Coinbase announced today that it has raised $25 million in a Series B round led by Andreessen Horowitz, the largest fundraise ever by a Bitcoin company. San Francisco-based Coinbase is perhaps the most prominent Bitcoin operations in the United States, allowing individuals to buy and sell Bitcoin with a U.S. bank account and allowing merchants to accept the digital currency as payment. Online-dating service OKCupid is among the 16,000 merchants using Coinbase. Previously the eight-employee startup, which launched in June 2012, had raised about $6 million of investment capital. "We think Coinbase can significantly accelerate Bitcoin's proliferation, and as that happens the Internet will enter a new phase of invention and opportunity," said Andreessen Horowitz's Chris Dixon , who will join Coinbase's board of directors on the heels of this latest funding round. "Bitcoin is the first plausible proposal for an economic protocol for the Internet." The Series B money will allow Coinbase to grow its staff and scale its business. As it stands, its recent growth is impressive: The company says its user base has tripled since Aug. 1, from 200,000 to more than 600,000 user accounts. Fred Wilson of Union Square Ventures, which participated in the funding round along with Ribbit Capital, will also join the Coinbase board. Coinbase also announced today that Gavin Andresen, the head developer of the open-source software underlying Bitcoin, is joining the company as an advisor. Related: SecondMarket CEO: Wall Street Will Put 'Hundreds of Millions' Into Bitcoin More From Entrepreneur SecondMarket CEO: Wall Street Will Put 'Hundreds of Millions' Into Bitcoin Why Bitcoin Is Better Than Other Currencies AMC Offers Loyal Customers Stock in Upcoming IPO

2013-12-13 00:04:40+00:00

{"Bitcoin": [146, 1073, 1965]}

{"Bitcoin": [40]}

EU banking watchdog warns of risks from Bitcoin

https://finance.yahoo.com/news/finance.yahoo.com/news/eu-banking-watchdog-warns-risks-000440099.html

Reuters

https://www.reuters.com/

* Consumers have no protections in virtual currencies * EBA studying whether sector needs regulating By Huw Jones LONDON (Reuters) - People using Bitcoins are on their own when it comes to losses, the European Union's banking watchdog said on Friday in a formal warning to consumers on the risks of using unregulated online currencies. The European Banking Authority said there was no protection or compensation for people whose "digital wallets" are hacked, a transfer of virtual money goes wrong or a platform is shut. The warning follows similar announcements from the Bank of France and the Chinese central bank. The EBA stopped short of telling consumers not to use online currency markets but said if they end up out of pocket there won't be a safety net like the compensation given to deposit holders when a mainstream EU bank goes bust. "Currently, no specific regulatory protections exist in the EU that would protect consumers from financial losses if a platform that exchanges or holds virtual currencies fails or goes out of business," EBA said in a statement. Bitcoin is not backed by any central bank or government, or by physical assets. Its value depends on people's confidence in the currency. It has been gaining acceptance by the general public and investment community but has yet to become an accepted form of payment on websites of major retailers such as Amazon.com. "Cases have been reported of consumers losing significant amounts of virtual currency, with little prospect of having it returned. Also, when using virtual currency for commercial transactions, consumers are not protected by any refund rights under EU law," said the EBA. The watchdog has been studying virtual currencies for three months and is still considering whether they can or ought to be regulated. It has powers to ban them, though questions remain over how this could be done in practice. There are about 100 virtual currencies, with new ones appearing every week. Bitcoin is by far the best known. Story continues The price of the bitcoin rose above $1,000 last month for the first time, extending a 400 percent surge in less than a month and fuelling concerns of a bubble. EU regulatory officials doubt such published estimates as the currency and the platforms that trade it are not regulated. Some platforms have been closed down amid concerns there could be a risk of money laundering, leaving those who held money on them nursing temporary or permanent losses. The EBA said there could also be potential tax liabilities for users of virtual currencies. (Editing by Tom Pfeiffer)

2013-12-13 00:33:00+00:00

{"Bitcoin": [2751, 2782, 2866, 3071]}

{}

VANGUARD: These Four Simple Principles Can Put Investors On The Path To Success

https://finance.yahoo.com/news/vanguard-four-simple-principles-put-003336764.html

Business Insider

http://www.businessinsider.com/

chicago traders confetti REUTERS/John Gress FA Insights is a daily newsletter from Business Insider that delivers the top news and commentary for financial advisors. These Four Simple Principles Can Put Investors On The Path To Success (Vanguard) Investors are worried about the impact that a Federal Reserve tapering of its $85 billion monthly asset purchase program and rising rates could have on their portfolio. Many are tempted to time markets. Instead, Vanguard Chief Investment Officer Tim Buckley, says he always reminds his clients of four core principles that put clients on the path to investment success. "I always come back to our four principles, which have served investors well regardless of the environment: Know your goals, set your portfolio allocation according to your goals, minimize cost, and have the discipline to rebalance." He says investors that haven't rebalanced their portfolio in the past six months or year should take another look at their portfolio. He also says investors should be "wary of strategies that are based on back-tested data with an expectation of outperforming the market in the future." Hedge Fund Holdings Surge Even As They Underperform The Stock Market (Financial Times) Even has hedge funds have underperformed equity markets in 2013, the continue to draw investors. Hedge funds have pulled in $360 billion this year, a 15.7% increase on their assets under management (AUM) at the end of 2012, reports Stephen Foley at The Financial Times. This is largely because investor expectations are changing. Investors no longer expect massive returns and are instead looking to diversify their portfolio with smaller and more stable returns, reports Foley. And this has hedge funds optimistic going into 2014. 25% expect to launch a new funds, according to a Prequin survey of fund managers cited by Foley. Jim Rogers: Right Now, I'd Rather Buy Silver Than Gold (BullionVault) Gold prices have been falling and Jim Rogers, chairman of Rogers Holdings, told BullionVault, that this was because India "which has been the largest buyer, has reduced its buying a lot." Rogers added that if Indian politicians could get people to sell their gold, "Who knows how low gold could go?" Rogers said right now he isn't buying silver or gold but if he had to buy one today, it would be silver because it has fallen more than gold. But he added that "With all this staggering amount of currency debasement, gold has got to be a good place to be down the road once we get through this correction." Story continues Fidelity Is Not Letting Retail Investors Put Bitcon In Their Retirement Accounts (Business Insider) It was earlier report that Fidelity, the world's largest RIA provider, was letting its clients invest in Bitcoin through SecondMarket’s Bitcoin Investment Trust. "At this time, Fidelity does not allow investments in the Bitcoin Investment Trust through our retail platform, including in IRAs," a Fidelity spokesman told Business Insider in an email. Accredited investors did have access at one point, but don't anymore. "The Bitcoin Investment Trust was previously approved by Fidelity as an eligible investment for accredited clients in their self-directed IRA accounts and investments began closing last week," SecondMarket's Barry Silbert said in a statement. "We understand that Fidelity has decided to reevaluate this decision." ROSENBERG: The Market Is So Strong That It Could Go Through A Near-Term Setback And None Of The Bullish Technical Trendlines Would Be Violated (Gluskin Sheff) The latest Investors Intelligence poll has "hit an extreme" writes Gluskin Sheff's David Rosenberg. And this acts as a contrary indicator. The bull share has climbed to 58.2% in the latest week, up from 57.1%, while the bear camp is at 14.3%. The correction camp is down to 27.5%, from 28.6%. "As such the bull/bear spread widened to a new high for the year (43.9 percentage points versus 42.8 last week) as bullish sentiment went to a new high for the year." "This index is at an extreme high and one that has more often that not, regardless of the macro or policy backdrop — ushered in a corrective phase, something we have not seen now in well over two years, which itself is highly unusual. The market is so strong that it could undergo a near-term 10% setback and none of the bullish technical deadlines would be violated." More From Business Insider Investors Should Take Two Key Steps When Building A Diversified Portfolio Barry Ritholtz Explains Why Hedge Funds Have Lousy Performance BLACKROCK: Stock Valuation And Investor Sentiment Don't Justify Bubble Fears Just Yet

2013-12-13 01:50:11+00:00

{"Bitcoin": [1209]}

{}

PRESS DIGEST- Financial Times - Dec 13

https://finance.yahoo.com/news/press-digest-financial-times-dec-015011010.html

Reuters

http://www.reuters.com/

Dec 13 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines GOLD PRICE PROBE EXTENDED TO DEUTSCHE BANK () MADOFF VICTIMS SET TO RECOVER THREE-QUARTERS OF LOSSES () BOJ VOWS TO STICK WITH EASY MONEY POLICY () EUROPEAN WATCHDOG'S WARNING THROWS COLD WATER ON BITCOIN FEVER () EADS CHIEF CALLS FOR EU DRONE BUDGET () OVERTIME WORK AT FOXCONN STILL BEYOND CHINA'S LEGAL LIMITS () Overview German banking regulator Bafin has demanded documents from Deutsche Bank as part of a probe into suspected manipulation of benchmark gold and silver prices by banks, according to people familiar with the matter. After a new contribution from JPMorgan Chase & Co, funds set up for victims of Bernard Madoff's Ponzi scheme should recover almost three-quarters of the $17.5 billion of losses. Bank of Japan Governor Haruhiko Kuroda said the central bank would keep its highly expansionary monetary policy in place until inflation hits and stabilises at its 2 percent target. European financial watchdogs have warned of the "violent fluctuations in electronic currencies" consumers face by using virtual currencies such as Bitcoin, the price of which has fluctuated between $340 and $1,240 in the past week. Tom Enders, chief executive of Europe's largest aerospace company EADS, has warned that Europe will have to buy its next fighter jet from the U.S. or Asia if it does not invest in its own defence industry and allow sector consolidation. An audit of operations at Foxconn Technology Group , best known for assembling Apple Inc's iPhones, has found that workers still do more overtime than permitted by Chinese labour law.

2013-12-13 10:23:00+00:00

{"Bitcoin": [49, 93, 142, 218, 294, 359, 1252, 1350, 1414, 1442, 1566, 2474, 2583, 2863, 2960, 3048, 3132, 3187, 3284, 3361, 3498, 3838]}

{"Bitcoin": [38, 64]}

Startup Cheap Explainer Video Accepts Bitcoin, 20% Discount For Bitcoin Clients

https://finance.yahoo.com/news/startup-cheap-explainer-video-accepts-102300370.html

ACCESSWIRE

https://www.accesswire.com/

Innovative startup Cheap Explainer Video accepts Bitcoin as a payment method; supporting the Bitcoin ecosystem by offering a 20% discount for Bitcoin customers. Cheap Explainer Video founder Oladapo Ajayi has a strong Bitcoin background. December 12th, 2013 - Cheap Explainer Video now accepts Bitcoin and offers a huge 20% discount to customers who pay with Bitcoin. Cheap Explainer Video specializes in creating short, highly engaging animations which succinctly present the features and benefits of a product. These animations, also known as Explainer Videos, can increase conversion rates for online businesses by 50% or more. A well made Explainer Video leverages the power of storytelling to create an emotional connection between businesses and customers, or between the product and customers. It also quickly grabs a website visitor’s attention and educates them about the product before they have a chance to lose interest. Explainer Videos are quickly becoming standard fare for web based businesses. If a website does not have a good Explainer Video, it is probably losing customers. Cheap Explainer Video founder Oladapo Ajayi is a decentralized currency enthusiast, serial entrepreneur and software developer - his innovative peer to peer Bitcoin trading software is scheduled to be released in early 2014. He is also very active in the Bitcoin community – being the sole developer and founder of the Bitcoin Coinsigner project. Bitcoin businesses have an added challenge in that they also need to be able to quickly, easily and engagingly explain what Bitcoins are to potential customers; who may have not heard of them. They have to accomplish this in addition to showcasing the features and benefits of their particular product. Cheap Explainer Video works with each client to distill the product down to its most useful or exciting features and benefits, then create an engaging short animation which clearly shows potential customers how the product will better their lives. Story continues According to Cheap Explainer Video founder Oladapo Ajayi , all online businesses need Explainer Videos that make customer understanding as painless as possible. No matter how complicated the product or service might be, Cheap Explainer Video will create a video designed to grab customer attention within the first five to ten seconds using animation, sound, sound effects and emotion-based voice over acting. In an effort to support businesses and startups in the Bitcoin ecosystem, Cheap Explainer Video is offering a massive 20 percent discount to all clients who pay in Bitcoin. Oladapo Ajayi’s vision for Cheap Explainer Video is simple: to produce high quality, affordable Explainer Videos which engage and educate online visitors, turning them into customers at a dramatically improved rate. As more and more online businesses enter the exploding Bitcoin space, Cheap Explainer Video‘s innovative and one-of-a-kind media service is perfect for Bitcoin startups worldwide to increase profits and conversions. Through Oladapo’s solid Bitcoin background, and by offering a generous 20% discount on all orders paid with Bitcoin, Cheap Explainer Video is a true benefactor of Bitcoin startups across the globe. Cheap Explainer Video also supports the long-term interest of Bitcoin by taking a stance to support efforts to preserve the fungibility of Bitcoin as a currency. As that, Cheap Explainer Video will not participate in initiatives to validate, whitelist, greenlist or blacklist Bitcoin addresses. To get in touch with Cheap Explainer Video please go to: http://cheapexplainervideo.com Donations are welcome: 1C4vYv8mqxnZqc6ryTHj37JHDXp2GT6u2i Visit http://cheapexplainervideo.com/ for more information. Contact Info Name: Oladapo Ajayi Organization: Cheap Explainer Video Email: [email protected] Source: MM-BitcoinPR

2013-12-13 13:52:14+00:00

{"Bitcoin": [29, 222, 333, 637, 772, 1119]}

{"Bitcoin": [58]}

We're Actually Surprised By How Many Americans Know About Bitcoin

https://finance.yahoo.com/news/finance.yahoo.com/news/were-actually-surprised-many-americans-135214400.html

Business Insider

http://www.businessinsider.com/

bitcoin REUTERS/Jim Urquhart Bitcoins created by enthusiast Mike Caldwell are seen in a photo illustration at his office in Sandy, Utah, September 17, 2013. Bloomberg has performed a simple poll on Americans' awareness of Bitcoin, and the results may be pretty bullish for the digital currency. 42% of Americans correctly identified Bitcoin as a digital currency. 46% said they weren't sure. And 12% thought it was either an iPhone app or an Xbox game. Still, 42% ain't bad for a computer program created in a guy's bedroom that until just a few months ago was used primarily to buy drugs in the backwaters of the Internet. The value of Bitcoin has climbed 7,000% in 2013, and about 200% in the past month. It was trading at about $915 on the Mt. Gox exchange today. Once Bitcoin was defined to those who weren't familiar with it, 45% said it would be better if it were regulated, while 39% said it would be better if it continued to go unregulated. 16% said they weren't sure. Bloomberg and Selzer & Co. of Des Moines, IA, interviewed 1,004 U.S. adults ages 18 or older. More From Business Insider The World's Largest Bitcoin Exchange Looks Like It's Malfunctioning Digital Currencies Everywhere Are Plummeting On China Report BITCOIN IS CRASHING — Digital Currency Tanks After Chinese Internet Company Suspends Usage

2013-12-13 15:36:37+00:00

{"Bitcoin": [72, 239, 379, 426, 506, 558, 1060, 1186]}

{"Bitcoin": [22]}

6% of Americans Think Bitcoin Is an Xbox Game

https://finance.yahoo.com/news/6-americans-think-bitcoin-xbox-153637111.html

The Atlantic

http://www.theatlantic.com/

A new poll from Bloomberg has found that six percent of Americans think Bitcoin is an Xbox game, and another six percent believe it to be a new iPhone app. Nearly half, 46 percent, were honest and said they just weren't sure. But, despite Bitcoin's relatively niche appeal, not to mention utility, quite a large percentage of the 1,004 Americans surveyed—42—correctly identified Bitcoin as a virtual currency. For the moment, Bitcoin primarily functions as an investment vehicle for those who believe that Bitcoin's value, currently hovering around $880 per Bitcoin , will eventually rise to ridiculous heights . As my colleague Matt O'Brien recently reported, " Researchers from the University of California-San Diego and George Mason University found that 64 percent of all bitcoins are being hoarded in accounts that have never been spent. And of the bitcoins that are being spent, a full 60 percent are on the gambling site Satoshi Dice." For people not interested in putting their money into a novel and unproven investment, nor gambling at Satoshi Dice, Bitcoin is of little relevance. Olga Ruff, a jewelry business proprietor in Dallas (who, for her part, did correctly identify Bitcoin in the survey) told Bloomberg News , “What use would it be for me?” H/t Brian Fung More From The Atlantic Why There Are So Many Rich Counties Concentrated Around Washington, D.C. Map: The Astonishing Concentration of High-Income Earners Around Washington, D.C. Insurance Companies Are Making a $500 Million Bet on Obamacare View comments

2013-12-13 16:52:00+00:00

{"Bitcoin": [143, 303, 880, 2065, 2302, 2387]}

{"Bitcoin": [11]}

Actually...Bitcoin's Recognition is Pretty Darn High

https://finance.yahoo.com/news/actually-bitcoins-recognition-pretty-darn-165256179.html

Entrepreneur

http://www.entrepreneur.com/

There's a lot of snickering on Twitter today about a Bloomberg poll that showed "just" 42 percent of people surveyed nationally correctly knew Bitcoin was a virtual currency. In fact, 6 percent of respondents thought it was an Xbox game or an iPhone app. To wit... New poll shows 6% of Americans think #Bitcoin is an Xbox game, another 6% think it's an iPhone app: http://t.co/bNqhdNqJCU ( @TheAtlantic ) — Yahoo Finance (@YahooFinance) December 13, 2013 and... Not everyone is on the bitcoin bandwagon. In a recent poll, 6 percent thought bitcoin = Xbox game. via @TheAtlantic http://t.co/68ZzssCMkY — Susan Orr (@SusanOrr) December 13, 2013 But, hold on. Isn't the fact that 42 percent of people know what this new, still-emerging and admittedly little understood currency is cause for praise, not worry? A 42-percent recognition rate is pretty high, considering the novelty of Bitcoin. Hell, Americans are notoriously short on information, despite the proliferation of devices and data at their fingertips. In 2011, Newsweek had Americans take the test that immigrants undergo as part of citizenship . Twenty-nine percent didn't know the name of our vice president. Forty-four percent didn't know what the Bill of Rights is. As the Supreme Court was deciding whether Obamacare was actually constitutional, FindLaw.com polled Americans and found that only 34 percent of citizens could name even one member of the high court. But why do people think it might be an iPhone app or a video game? Well, because there were only three options in the poll, which talked with 1,004 American adults, over age 18. The first was virtual currency, the last was "not sure," and the two others were -- wait for it -- an Xbox game and an iPhone app. So, it's not that people actually think it's a game or phone. They really don't know , and, presumably, didn't want to admit that so they checked the box on something plausible. (It is a sad trait that we humans tend to hide our ignorance, rather than try to eradicate it through education.) So, instead of snark, the backers of Bitcoin should be throwing confetti. We know who you are, at least as much as we know Joe Biden. Story continues More From Entrepreneur Apple Becomes China's Third Highest Smartphone Distributor Coinbase Nets $25 Million in Largest Ever Bitcoin Fundraise SecondMarket CEO: Wall Street Will Put 'Hundreds of Millions' Into Bitcoin View comments

2013-12-14 13:21:00+00:00

{"Bitcoin": [17, 96, 160, 200, 540, 851, 934, 1773, 1830, 1894, 1962]}

{"Bitcoin": [13]}

That Swedish Bitcoin Mining Company Has Sold $28 Million-Worth Of Its New Mining Hardware

https://finance.yahoo.com/news/finance.yahoo.com/news/swedish-bitcoin-mining-company-sold-132143016.html

Business Insider

http://www.businessinsider.com/

neptune KnCMiner Bitcoin businesses are booming, especially now that 42% of Americans know what Bitcoin is — but there remain few businesses as revenue-rich as Bitcoin mining development. Background: Bitcoins are mined by computers unscrambling blocks of "hashes" or complex strings of numbers and letters. This tends to be an expensive and labor-intensive proposition — the fastest miners now cost thousands of dollars, and they eat up lots of electricity and manhours of setup. We recently reported that Knc Miner, a Swedish developer of Bitcoin miners, had sold $8 million of its latest model, the Neptune, in 24 hours. When it drops in early 2014 (the date remains a bit amorphous), the Neptune could be the most powerful and efficient miner in the world, depending on what the competition looks like at that time (it's impossible to say how many Bitcoins it can mine because the mining difficulty rate, which goes upward as more Bitcoins are mined, will have changed when it's released). Today, we got new figures on Neptune sales: t he first 1,200 Neptunes were sold exclusively to existing customers, at a price of $10,000 for a total of $12 million, Ian Chaffee, a press rep for the company, told us in an email. The next batch of 1,200 were sold to new customers for $12,999 each, for a total of $15,598,800. That gets them to a grand total of $27,598,800 , excluding taxes. The figure nearly matches the company's entire revenues for its first seven months of production and sales of its earlier models, Chaffee says. It's not clear how the margins on one of these babies is — Alex Lawn, a KnC employee who recently came by BI's offices to demonstrate an earlier model, would only tell us the retail price is enough to cover the costs. But it's a sign of how far Bitcoin's come. More From Business Insider PAUL KRUGMAN: Bitcoin's Value Is Driven By The Fact That It Sounds Impressive Bitcoin Has Made A Major Comeback FLECKENSTEIN: Everyone Betting On Bitcoin Will Lose All Of Their Money

2013-12-14 17:43:00+00:00

{"Bitcoin": [1677]}

{}

This Company Banned Email And Loved It

https://finance.yahoo.com/news/company-banned-email-loved-174333263.html

Business Insider

http://www.businessinsider.com/

fist pump Flickr via excalipoor Tony Teunis, VP of Operations at All Western Mortgage, had a problem. Intra-office email was getting out of control. Gargantuan email threads were getting in the way of his and his employees' productivity. Workday progress slowed to a halt as everyone tried to stay on the same page. "I’d say it was kind of a mosh pit of communication methods," said Teunis. "[We used] email, private instant messaging systems, bulletin boards, snail mail even believe it or not. It was very difficult to communicate with the size of operation we are plus how we’re spread out geographically throughout the globe." So he changed the tone of communication at the office. He banned email and implemented a product called Unison , an application for workplace collaboration ( we've previously profiled it here ). It pulls together text chat, Skype-like voice chat, and in-app messaging that can accommodate companies of nearly any size. The go-to statistic from Unison is that it can generally reduce office email by 80%, but All Western Mortgage smashed that in an effort to cut out email entirely. Now that everyone is communicating on the same platform, work gets done more quickly. Teunis said, "If an underwriter underwrites a loan, can’t make a decision, and posts it and the loan committee at 7 am, it might already be out of the loan committee by 8:05. In the traditional world we had to set a loan committee meeting twice a week that took place in our offices. Now we’re not held to the constraints of traditional meetings and conference calls that we were in the past." More From Business Insider Inside The $7.85 Million Las Vegas Home You Can Buy With Bitcoin Comedian Lewis Black: 8 Reasons Why Amazon's Drones Won't Work Look How Many Of Isaac Asimov's Predictions About Robots Are Coming True

2013-12-14 20:47:54+00:00

{"Bitcoin": [434]}

{}

Vegas developer selling $7.85M mansion for bitcoin

https://finance.yahoo.com/news/vegas-developer-selling-7-85m-163608512.html

Associated Press

https://apnews.com/

LAS VEGAS (AP) -- A casino owner-turned-commercial developer is asking $7.85 million to sell a Las Vegas home, and he's willing to accept the online currency bitcoin for the deal. Jack Sommer said he got the idea to seek bitcoin for his 25,000-square-foot mansion from two of his sons, who've been involved in making and trading the currency. "The advantage is that we're expanding our market and adding some notoriety," Sommer said. Bitcoin peer-to-peer trading began in 2009. Value is purchased through an exchange website with a mainstream paper currency, such as dollars or euros, though trading isn't government-regulated. Using the currency can streamline international business deals, said Julian Tosh, a consultant and owner of the marketplace website bitcoinsinvegas.com. "There are a bunch of people who have bitcoins, and they're dying for a place to spend it," Tosh told the Las Vegas Review-Journal (http://bit.ly/1b2VrHk ). He said Sommer's willingness to accept bitcoin could open the home to a global audience. "If you increase awareness of potential buyers, you could tap into new markets," Tosh said. Sommer has put a lot of work into the home in the posh Spanish Trail Country Club. It features marble from China, Iceland and Brazil, a full basement, staff quarters with Jacuzzis, and a secret garden. It also has 39 air conditioning zones fed from a 120-ton cooling tower. Library shelves are stainless steel clad in American cherry wood, and the view from the owner's suite is of golf course fairways. Sommer once owned the Aladdin resort, which is now the Planet Hollywood Resort on the Las Vegas Strip. He said he and his wife, Laura, considered the additions they've made to the home "an exercise in how many cool details we could put in." He said they were downsizing now that their seven children have grown and moved out. Sommer's sales agent, Craig Tann, of Prudential American Group's Estates of Las Vegas team, said the home may be the first in southern Nevada to be marketed formally around bitcoin. A range of businesses accept the currency. A California Lamborghini dealership sold a $103,000 Tesla to a Florida man for 91.4 bitcoin, the Review-Journal reported, and a Canadian man listed his Alberta home for the bitcoin equivalent of $405,000. The currency hit a watermark when Bank of America Merrill Lynch said this month that one bitcoin could have a maximum value of $1,300, or more than the price of an ounce of gold. A bitcoin on Friday was valued at about $870, up from $10 in January. Tosh acknowledged the volatility in value could make a $7.85 million bitcoin trade risky. Story continues "Locking in a price for such a large transaction is going to be kind of difficult," he said. "If the value is changing 30 percent a day, how do you quantify that in a contract and expect each side to hold on for 30 to 90 days while escrow clears?" ___ Information from: Las Vegas Review-Journal, http://www.lvrj.com View comments

2013-12-15 13:42:00+00:00

{"Bitcoin": [176, 269, 443, 3012]}

{}

3 New Technologies That Will Force Laws To Be Totally Rewritten

https://finance.yahoo.com/news/3-technologies-force-laws-totally-134236894.html

Business Insider

http://www.businessinsider.com/

amazon prime air drone Amazon As we develop new and interesting technologies, ostensibly to make our lives better, it puts pressure on our legal system to make sure that we 1. Bitcoin The government cares a lot about its money, especially when it can be converted into Bitcoin, the digital anonymous currency, and taken off the radar to be sent anywhere without anyone's identity attached to it. The Feds are still figuring out how to address Bitcoin. In the meantime, many marketplaces legitimate and illegitimate alike will gladly take the currency as payment for everything from socks to drugs . 2. Commercial drones Commercial drone use was catapulted to the public's attention with Amazon's surprising announcement that it's been experimenting with package delivery by unmanned aerial vehicle. But here's the thing – there's no legal framework in the United States for businesses to make use of drones with the government's blessing. The FAA is on record as saying that it will be drawing up rules for such use cases, and when that happens, it'll shake up a number of industries. Obviously the aforementioned package deliveries can be handled much more swiftly and cheaply when there's not a human responsible for getting it to your door, but farmers can use them to dust crops, and companies in Australia are even using them to put out bush fires. Commercial drone use faces two major hurdles before it becomes part of our lives – winning the public's favor as a safe and easy way to get business done, and figuring out where it fits within FAA regulations. 3. 3D printing Many were raising a stink late last year ( I was one of them ) about Defense Distributed, a nonprofit organization committed to designing a functioning gun that one could hypothetically make at home with a 3D printer. It presents something of a problem to lawmakers – how do you make sure guns are being used safely when they can be manufactured in someone's garage without serial numbers or accountability? The city of Philadelphia has already issued a ban on 3D printed weapons, so look for this ban to become a trend. Story continues But that's not the only legal implication of 3D printing. Given the ability to manifest pretty much any object you can conceive of, 3D printers also have copyright zealots up in arms about potential infringement. The famous example here is found in Warhammer 40K , a tabletop wargame played with small figures that are most certainly protected under intellectual property laws. But with a 3D scanner and printer, it becomes a cinch to clone your figures at a fraction of the price you'd pay to buy them at a store. Is this legal or illegal? These are just three examples of how technology is outpacing the law, and given the current rate at which people are churning out newer and better gadgets to expand our capabilities, lawmakers will continue to have to play catchup. More From Business Insider This Company Banned Email And Loved It Inside The $7.85 Million Las Vegas Home You Can Buy With Bitcoin Comedian Lewis Black: 8 Reasons Why Amazon's Drones Won't Work

2013-12-15 14:17:48+00:00

{"Bitcoin": [905, 1278, 1340, 1412, 1446, 1624, 1769, 1865, 1981, 2031, 2655, 3033, 3094, 3177, 3295, 3404, 3457, 3501, 3758]}

{"Bitcoin": [4]}

Why Bitcoin Will Never Be a Currency—in 2 Charts

https://finance.yahoo.com/news/why-bitcoin-never-currency-2-141748774.html

The Atlantic

http://www.theatlantic.com/

Falling prices sound like a good thing, but they're not. When prices fall, people put off buying things. And when people put off buying things, companies put off investing. And then the economy slumps—and keeps slumping. Even worse, people are stuck trying to pay back debts that don't fall with wages that do. So bankruptcies pile up, and so do bank losses. That makes people too scared to borrow, and banks too scared to lend, which only makes prices fall even more. This self-perpetuating cycle of doom is what sunk the global economy in the 1930s, and what, to a lesser extent, has sunk Japan since the 1990s. And it's what has been sinking us since 2008, though this time central banks have at least kept prices from falling, just barely. Now, it doesn't make much sense, but there's actually a currency designed to create these kind of economic calamities. A currency designed for deflation. That's Bitcoin, the virtual currency you can theoretically use to buy things online. See, there's a predetermined number of bitcoins that will only grow at a low rate until 2040—and then stop. This artificial scarcity means that the dollar value of a bitcoin should go up considerably. And it has. In just the last year, it's gone up something like 64 times. That's enough that " Bitcoin millionaires " are now a thing. Of course, a stronger Bitcoin is just another way of saying that things cost less in terms of Bitcoin . In other words, there's Bitcoin deflation. Just how much? Well, as you can see below, Peter Coy calculates that prices would have had to fall 98.5 percent the past year if they had been set in terms of Bitcoin. As point of comparison, prices fell about 10 percent a year during the worst of the Great Depression. But prices aren't set in terms of Bitcoin. They're set in terms of dollars. So it doesn't hurt the real economy when the price of Bitcoin goes up. People just go on living their lives, mostly unaware of the virtual currency. But it does hurt the Bitcoin economy, such as it is, when the price of Bitcoin goes up. Why would anyone use their bitcoins to buy things when those bitcoins might double in value in a day—or hour—or two? Story continues They wouldn't. Researchers found that 64 percent of bitcoins are in accounts that have never been used. And the ones that are being used aren't being used more. You can see that in the chart below from Jason Kuznicki , which looks at the dollar value of all bitcoin transactions each day divided by the dollar value of all bitcoins each day. It's hard to see any pattern here—and that's the point. If people were using bitcoins more, this ratio would be going up. It's not. Bitcoin won't work as a currency as long as it's so deflationary. Why spend bitcoins today when they might be worth much more tomorrow? The only reason would be to buy or do things online that you can't buy or do with dollars (or euros or yuan)—something illegal. Now, black markets can be big markets, especially when it comes to evading capital controls , but not so big that Bitcoin would ever become more than a niche "currency." What Bitcoin really needs is a central bank to stabilize its value. When the demand for Bitcoin goes up, they need to print more to keep it from skyrocketing. That is, they need to decide whether they want Bitcoin to be a Ponzi scheme for techno-libertarians or an actual medium of exchange. See, the technology of Bitcoin really is revolutionary, but the currency of Bitcoin is holding it back. In other words, Bitcoin really could have use as a payments system if it had a stable value . But it doesn't, so it's just a dotcom stock . And one that could be co-opted by banks that take its technology and use it with dollars instead. So who's the perfect person to run Bitcoin? It'd have to be someone with central banking experience. Someone who understands why deflation is a problem . And someone who thinks virtual currencies hold promise . Someone like ... Ben Bernanke. More From The Atlantic Sexy (and Sexist) Airline Ads From theAtlanticArchives Would Increasing the Minimum Wage Create Jobs? Our Historic Austerity—in 1 Crazy Chart

2013-12-16 15:30:00+00:00

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{"Bitcoin": [0]}

Bitcoin: The Good, the Bad and the Ugly

https://finance.yahoo.com/news/bitcoin-good-bad-ugly-153000452.html

Entrepreneur

http://www.entrepreneur.com/

Bank of America recently said in a report that Bitcoin could become 'a major means of payment for e-commerce,' and as an avid observer of digital currencies, I believe this to be a major step toward globalized finance. The recent controversy surrounding Bitcoin, however, lies within the fact that 90 percent of Bitcoin buyers are market speculators, according to Nicholas Colas of the ConvergEx group. While Bitcoin is an ideal proof of concept for what digital currencies might look like in the future, I think entrepreneurs should be thinking big picture. The explosive popularity -- and price -- of Bitcoin is temporary, but understanding the brass tacks value behind Bitcoin and its upstart competitors are where you'll find the next-level thinking that will shape the future. The Good: Digital currency needs a champion. The most exciting element of Bitcoin -- and most dangerous for speculators -- is that technology is iterative and Bitcoin is only the first wave. While there is a hard cap of 21 million Bitcoins available to be mined, the number of routes digital currency can take are infinite. Alternative cryptocurrencies such as Litecoin , Peercoin and Namecoin have been gaining traction by offering users separate systems of economic growth and even simulating inflation. A mainstream competitor is already in the works, and the Let ' s Talk Bitcoin blog recently uncovered a patent filed by JPMorgan Chase to develop a solution to the primary issue of international online money transfers that independently produced digital currencies could potentially solve. Related: Why Bitcoin Is Better Than Other Currencies Bitcoin, crypto capitalist or not, revealed a gaping hole in the online marketplace. While supporting Bitcoin may be a hassle for most mom and pop retailers, a stable digital currency could make buying stuff online easier as well as providing an alternative to Western Union fees to transfer money by simply sending their recipient a 'Chase Coin.' Story continues The Bad: After you ' ve bought your Bitcoin, there isn ' t much that you can do with it. Bitcoin is a great idea. Publicizing it to people who may or may not fully understand the concept, however, is a big reason for its explosive success. Instead of a separate form of currency, Bitcoin has become a sort of volatile gold for would-be investors. Bitcoin has managed to pick itself up from supposed ' crashes, ' but that ' s not because of the inherent usefulness of the currency. In a Quora post, Facebook co-founder Dustin Moskovitz said that while digital currency is a ripe pasture for experimentation, the Bitcoin craze is 'overhyped.' He goes on to cite a UC San Diego and George Mason University study that found that 60 percent of spent Bitcoins were exchanged through a Bitcoin-supported gambling service, Satoshi Dice. Digital currency is neat. It's only natural to want to buy some after hearing about it online, but the global demand for Bitcoin currently far outweighs its intended purpose. Just as curious newbies make their first stop at Mount Gox to buy their coins, they notice the upward trajectory of the price graph and are enticed into the volatile world of Bitcoin speculation. Related: Coinbase Nets $25 Million in Largest Ever Bitcoin Fundraise The Ugly: With legitimacy comes oversight. The initial interest in Bitcoin was driven by crypto libertarians willing to invest their money and computer processing power into a decentralized, self-limiting system of currency. The price of Bitcoin has, ironically, grown as the currency moves further away from its fringe roots and into the public eye. The harbinger of Bitcoin ' s arrival into the mainstream was a senate hearing that bumped the price of Bitcoin up to $750 on Nov. 16. After creeping up to a peak of about $1,300, the People's Bank of China denounced Bitcoin , plummeting its price on Mount Gox to $700 the next day. The Chinese government cited both the volatility of the currency and the possibility for illiquidity for buyers in its statement. For the same reason, a finance professor at The Boston University School of Management has even claimed that Bitcoin could fall as far as 99 percent by June in a Washington Post interview . The anarchistic glee that attracted early Bitcoin adopters missed the intrinsic inevitability of any digital currency: widespread use. Is the current price of Bitcoin the result of a bubble? Yes, but the bubble was formed around a hole in the market that digital currencies will soon fill. While I wouldn't suggest exchanging your money for Bitcoin, I'd definitely urge any entrepreneur to make the time investment and research cryptocurrencies over the coming months. The next big tech disruption could rethink how we buy stuff online, who knows about it and whether a bank will need to keep track of your finances. Related: SecondMarket CEO: Wall Street Will Put ' Hundreds of Millions' Into Bitcoin More From Entrepreneur The Outrageously Silly Argument Against Uber's Surge Pricing Holiday Tipping Guide: Whom to Tip and How Much Actually...Bitcoin's Recognition is Pretty Darn High

2013-12-16 22:26:00+00:00

{"Bitcoin": [1786, 1811]}

{}

Excessive Speculation Tinges All Old, New Market Bubbles

https://finance.yahoo.com/news/finance.yahoo.com/news/excessive-speculation-tinges-old-market-222600912.html

Investor's Business Daily

http://www.investors.com/

History has a habit of repeating itself in the stock market. Just look at past market bubbles. They always start the same as a herd mentality pushes prices higher, creating newfound wealth. They end the same way, too, when the bubble pops and wealth disappears. Easy come, easy go. One thing's for certain: Price and in the major averages are your best guide as to when a stock market bubble is about to burst. When this happens, cash is the best place for your portfolio. That's why monitoring distribution days in the major averages and sell signals in leading stocks is so important. Use The Big Picture column and Market Pulse as your daily guide. One of the earliest bubbles was the tulip craze in the Netherlands in the 1630s. There was the stock-market bubble in the 1920s that eventually led to the Great Depression; the economic bubble in Japan from 1986 to 1991; the U.S. tech bubble in 2000 and the U.S. housing bubble, which ultimately collapsed in 2006 and 2007. In the late 1990s, just before the tech bubble burst, an unprecedented 53% of American adults held investments in the stock market, according to "Pop Finance," and headlines were getting a bit sensational. At the time, a New York Times headline proclaimed "a new era of shareholder democracy." Indeed, headlines can become hyperboles as a bubble takes shape. In the late '90s, IPOs doubled and tripled in price on their first day of trading — many without earnings. Speculation was excessive, prompting Fed Chairman Alan Greenspan to use the term "irrational exuberance." Of course, the euphoria came to an end when the bubble popped in 2000 and prices started falling. Priceline.com (PCLN) fell 56% in September 2000 alone. Fast forward to today and there's growing talk about a bubble in the online currency Bitcoin. In January, the Bitcoin was worth $13. Earlier this month, it was trading around $1,240. Just recently, a Noble prize-winning economist recently warned of a U.S. stock market bubble. Others talk about recent frothiness in the IPO market as a sign of a possible bubble. It's true that the Fed's easy-money policy has been a boon for the stock market and 401(k) statements. But to say speculation has been excessive is a stretch. The stock market is not a topic of conversation like it was at cocktail parties in the late '90s.

2013-12-16 22:45:56+00:00

{"Bitcoin": [250, 5222, 5277, 5357, 5709, 5805, 5875, 5928, 6340]}

{}

Has the Fed been fueling bubbles? You be the judge

https://finance.yahoo.com/news/fed-fueling-bubbles-judge-172941730.html

Associated Press

https://apnews.com/

WASHINGTON (AP) -- The Federal Reserve's super-low interest-rate policies have inflated a slew of dangerous asset bubbles. Or so critics say. They say stocks are at unsustainable prices. California homes are fetching frothy sums. Same with farmland, Bitcoins and rare Scotch. Under Chairman Ben Bernanke, the Fed has aggressively bought bonds to try to cut borrowing rates and accelerate spending, investing and hiring. Its supporters say low rates have helped nourish the still-modest economic rebound. Yet some say the Fed-engineered rates have produced an economic sugar high that risks triggering a crash akin to the tech-stock swoon in 2000 and the housing bust in 2006. On the eve of the Fed's latest policy meeting Tuesday and Wednesday, here's why — or why not — these five assets might be in a bubble: STOCKS The Standard & Poor's 500 stock index has jumped about 26 percent since the Fed announced a year ago that it would buy $85 billion in bonds each month. And since the Fed's first round of bond buying at the end of 2008, stocks have soared 124 percent. Stocks outside the United States have also surged as other central banks have followed the Fed with their own low-rate policies. Germany's DAX is up 20 percent, Japan's Nikkei index 46 percent. Why it's a bubble: By artificially depressing bond yields, the Fed has led more investors to shift money into stocks. Such a flood of cash can swell share prices without regard to corporate earnings. Once the Fed unwinds its support, many investors could abandon stocks and send shares tumbling. "I am most worried about the boom in the U.S. stock market" because of its disconnect from a "weak and vulnerable" economy, Robert Shiller, the Nobel Prize-winning Yale economist, told the German magazine Der Spiegel a few weeks ago. Shiller knows a bubble when he sees one. He accurately warned of both the tech and housing bubbles before they burst. Why it isn't: One key measure assesses stock prices relative to corporate profits. A healthy price-earnings ratio is around 15 — or $15 a share for each dollar of profit. The current P/E ratio is about 18.4, slightly above average but probably no cause to panic. Janet Yellen, nominated to succeed Bernanke, said last month: "If you look at traditional valuation measures ... you would not see stock prices in territory that suggests bubble-like conditions." Story continues HOUSING The last housing bubble ignited the worst economic catastrophe since the Great Depression. Home prices became inflated in part from an influx of cash and low rates driven by the Fed and other central banks. And in recent months, prices have again soared in some hot U.S. markets. Why it's a bubble: It depends on location, location, location. All-cash sales, low rates and tight supplies have lifted prices in areas like New York City and Washington, D.C. Fitch Ratings estimated in November that a worrisome 17 percent of the U.S. home market is overvalued, a risk because much of the buying is tied to investments and house-flipping. Coastal California is "approaching bubble-year peaks," with Bay Area prices nearing the "environment in 2003," Fitch said. Some leading forecasters have also warned of bubbles in London and areas of Canada and Norway. New York University economist Nouriel Roubini worries about bubbles in Switzerland, France, India, Indonesia, Turkey, Israel and Brazil. These countries have accelerating prices, rising price-to-income ratios and huge proportions of mortgage debt as a share of total household debt. Why it isn't: At least in the United States, some safety valves are in place that didn't exist during the previous housing bubble, Roubini wrote this month. Lending standards are tighter. Banks are cushioned from possible losses from greater capital in reserve. And homeowners have more home equity this time. FARMLAND Over the past five years, the cost of Iowa farmland has rocketed 118 percent to $8,400 an acre, according to the Agriculture Department. Prices have more than doubled, too, in Kansas, Nebraska and North Dakota. The prices recall a 1970s-era boom. That ended with a bust that put many family farms into foreclosure, leading musicians such as Willie Nelson to start the Farm Aid benefit concerts. Why it's a bubble: The Fed's low-rate policies have encouraged farmers to expand their holdings over the past five years. Ethanol subsidies led them to plant more corn as prices for that crop rose during the past three years. "The bubble has been climbing," said Dan Muhlbauer, a grain farmer who's also a Democratic representative in the Iowa House. One ominous sign: The Environmental Protection Agency has proposed cutting ethanol blending requirements. Why it isn't: Unlike during the 1970s bubble, farmers haven't become "over-leveraged" with debt, Esther George, president of the Kansas City Fed, noted last summer. The percentage of farmers' assets financed with borrowed money has dropped from 22 percent in 1985 to less than 11 percent. This decline in debt should protect many farmers if the value of cropland plunges. BITCOIN Critics fear that the Fed's low rates are undermining the dollar's value. For some, the hot new choice is an Internet-based currency called Bitcoin. Because there's a finite supply of 21 million Bitcoins, devotees say the currency will continue to appreciate. The value of a Bitcoin relative to the U.S. dollar has surged at an average pace of 292 percent a year, according to a Bank of America analysis. Why it's a bubble: Prices are insanely volatile. They jumped 50 percent on Nov. 18 after regulators signaled that digital currencies could be acceptable. They plunged 30 percent on Dec. 5 after China's central bank banned Bitcoins as currency, according to the online exchange Mt.Gox. And the volatility suggests that Bitcoins are highly speculative. Bank of America said this month that Bitcoin is "at risk" of bubble status. Why it isn't: Bitcoin may become a useful commodity in the future economy. Its digital nature could make it easier for immigrants to send money back home. It could charge lower transaction fees than credit cards, saving retailers money. Eli Dourado, an economics research fellow at George Mason University, says bubbles occur when assets are priced above their fundamental value, "but we don't know the fundamental value of a Bitcoin yet." SCOTCH Rare decades-old Scotch could give investors a terrible hangover. Over the past five years, prices have shot up 170 percent, according to an index of auctions and sales by the Scotland-based firm Whisky Highland. It's among the investments that have grown more alluring as interest rates have fallen. The buyers aren't just tycoons with tweed blazers, empty snifters and money to burn. Auctions are fetching bids from Chinese nationals, while firms such as Whisky Highland offer guidelines for investing. There's "a perception that this is a good area of investment at a time when more traditional investments are producing low rates of return," says Martin Green, a whisky specialist for the auction house Bonhams. Why it's a bubble: Regardless of how high someone bids, Scotch still tastes the same. It generates returns by appreciating in price, not producing income as stocks, bonds or real estate can. By definition, whisky, wine and fine art are speculative and can abruptly lose favor with investors. Not to mention: The $41,077 spent on a 60-year old Macallan — which sold last month at a Hong Kong auction — can literally be poured down the drain. Why it isn't: What inflates bubbles beyond rationality is greed. Green says most buyers acquire Scotch for other reasons: "the mystical allure of the taste," the thrill of the chase, the pursuit of status. "One of the motives for Chinese buyers is social aspiration," he says.

2013-12-17 03:42:00+00:00

{"Bitcoin": [451, 631, 1998]}

{"Bitcoin": [43]}

Introducing FastCoin – The World’s Fastest Bitcoin Alternative

https://finance.yahoo.com/news/finance.yahoo.com/news/introducing-fastcoin-world-fastest-bitcoin-034200886.html

ACCESSWIRE

https://www.accesswire.com/

With its highly qualified and motivated core development team, strong social media presence, rising popularity and primary innovation of being the fastest digital currency in the cryptocurrency ecosystem, FastCoin has a bright future ahead. Toronto, CA - December 17th, 2013 - In late May 2013 FastCoin (FST) was launched; its primary innovation being to have the fastest transaction speeds of any digital currency currently in existence. Compared to Bitcoin’s 10 minute block times the FastCoin network has just a 12 second target block time with transactions fully confirming in 48 seconds. Based on the same fundamentals as the Bitcoin protocol FastCoin is a blockchain based, decentralized, peer 2 peer worldwide digital currency with no central issuing authority. FastCoin has seen a rapid rate of adoption, with the coin’s market cap reaching $1 250 000 USD in late November, and the official website, http://fastcoin.ca , seeing constantly increasing traffic and serving thousands of unique hits every month. The coin is backed by a team of developers and FastCoin enthusiasts from all over the world; including the USA, Europe, Australia, UK, Russia, China, Brazil, Argentina, South Africa, India and more. FastCoin is based in Toronto, Canada, but the core development team consists of 10 highly qualified individuals from all over the world. The majority of the core team are primarily system engineers: seasoned veterans of the IT ecosystem, with some possessing over 25 years experience in the industry. Some members of team FastCoin possess teaching backgrounds having taught computer science at the University and College Level. Others have held relatively key positions for high profile international IT companies such as Microsoft, Symantec and ATI. FastCoin also has professionals with MBA’s and global work experience; aiding the business analysis aspects of managing the FST project. All have been actively involved in the cryptocurrency space for years; enthusiastically mining Bitcoin and participating in the emerging digital currency economy. Christopher Tao is regarded as the head developer of FastCoin and the coin’s primary creator. Story continues Reflecting the popularity of the coin, the official FastCoin twitter account has over 11 000 followers and this is rapidly growing month after month. With its fast transaction speeds the FastCoin team is also actively targeting the mobile space and to this end they have released an Android FastCoin wallet. Due to its lightning fast transaction speeds FastCoin offers tangible benefits for merchants who accept FST as a payment method; any website or business who reaches out to the FastCoin team looking to accept FST will be warmly received. With its highly qualified and motivated core development team, strong social media presence, rising popularity and primary innovation of being the fastest transacting digital currency in the cryptocurrency ecosystem, FastCoin has a bright future ahead. With FST having reached a market cap of $1 250 000 USD, this is no doubt a foreshadowing of bigger things to come. To learn more about FastCoin please go to: http://fastcoin.ca FastCoin on Twitter: https://twitter.com/fast_coin FastCoin on Facebook: https://www.facebook.com/pages/Fastcoinca/593923330628082 FastCoin Android App Beta: http://www.fastcoin.ca/fastcoin-mobile-apps-beta-available.html FastCoin Sites and Services: http://www.fastcoin.ca/services.html FastCoin is currently the fastest transacting peer 2 peer digital currency in existence; for the technically minded the FST protocol details are as follows: - 12 second block target. - 4 confirms per transaction – every transaction confirms in 48 seconds. - Mining difficulty retargets every hour. Accelerated re-targets are utilized so as to eliminate instamining. - 32 coins per block, block reward halves roughly every 12 months or 2 592 000 blocks. - A total of 165 888 000 coins will be minted. - Connection port is 9526, RPC-port 9527 - Similar to Litecoin, FastCoin utilizes a Scrypt based cryptographic algorithm. Visit http://fastcoin.ca for more information. Contact Info Name: Alexander.Bezkrovny Organization: FastCoin Email: [email protected]

2013-12-17 12:30:00+00:00

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Myriad Interactive Media Entering Popular Bitcoin Market With Its Brand of Technology

https://finance.yahoo.com/news/myriad-interactive-media-entering-popular-123000943.html

Marketwired

http://www.marketwired.com/

NEW YORK, NY--(Marketwired - Dec 17, 2013) - Myriad Interactive Media ( OTCQB : MYRY ) ( BERLIN : XNG ) will once again use the company's design and development team to bring its brand of technology to another area of popularity -- this time it's Bitcoin. The only topic that's possibly more popular than medical marijuana right now is Bitcoin, and Myriad, a global interactive media and development company, has announced it has plans to enter the space. This company has never shied away from using its ability to design platforms that address complicated but popular ideas to create a solution that makes life easier for its users, so why not Bitcoin. For those new to this term and there probably aren't many of you, Bitcoin is the first decentralized digital currency, or even simpler, Bitcoins are digital coins you can send through the internet using a peer-to-peer technology to operate with no central authority or banks and these coins are wildly popular. It's that popularity that caught our attention when Myriad announced it would be entering the Bitcoin arena with "an exciting new platform" that will reside at www.CryptoCafe.com . Myriad CEO, Derek Ivany, told investors his team has initiated development of a new innovative platform that he expects will enhance the Bitcoin and crypto-currency community. "Our project is not just related to Bitcoin, but other crypto-currencies as well like Litecoin. We have been involved in the world of Bitcoin for the last year, and we are really excited about having the opportunity to bring forward a platform that could introduce the world of crypto-currencies to a much larger audience, on a worldwide scale." Ivany chose not to reveal too much about CryptoCafe fearing competitors would jump on the idea, but an answer may lie in what he did say. "Right now it's difficult for many citizens around the world to process modern currencies. Many face limits and restrictions with traditional service providers like Western Union and PayPal, and then there are some who may not be able to use services like PayPal at all. Crypto-currencies offer a seamless alternative with much lower transaction fees, and no middle man. Today's mobile phone culture allows just about anyone with a Smartphone the opportunity to house a digital wallet and spend crypto-currencies like Bitcoin straight from their phone." Myriad's latest venture should enhance what is becoming an impressive technology portfolio. The company's first two developed technologies, MingleSuite and MyMobiPoints focus on SME's and are in the sales phase, but now Myriad will try its hand at bringing the ultra-popular Bitcoin to the small cap market. About Stock Market Media Group Stock Market Media Group is a full service Investment Relations firm specializing in Research and Content Development. It offers a platform for CEOs to tell their story through the media with Reports, Interviews and Feature Articles. For more information and to read disclaimers and disclosures: www.stockmarketmediagroup.com

2013-12-17 12:30:00+00:00

{"Bitcoin": [247, 336, 646, 721, 791, 1060, 1284, 1359, 1457, 2325, 2636]}

{"Bitcoin": [42]}

Myriad Interactive Media Entering Popular Bitcoin Market With Its Brand of Technology

https://finance.yahoo.com/news/finance.yahoo.com/news/myriad-interactive-media-entering-popular-123000943.html

Marketwired

http://www.marketwired.com/

NEW YORK, NY--(Marketwired - Dec 17, 2013) - Myriad Interactive Media ( OTCQB : MYRY ) ( BERLIN : XNG ) will once again use the company's design and development team to bring its brand of technology to another area of popularity -- this time it's Bitcoin. The only topic that's possibly more popular than medical marijuana right now is Bitcoin, and Myriad, a global interactive media and development company, has announced it has plans to enter the space. This company has never shied away from using its ability to design platforms that address complicated but popular ideas to create a solution that makes life easier for its users, so why not Bitcoin. For those new to this term and there probably aren't many of you, Bitcoin is the first decentralized digital currency, or even simpler, Bitcoins are digital coins you can send through the internet using a peer-to-peer technology to operate with no central authority or banks and these coins are wildly popular. It's that popularity that caught our attention when Myriad announced it would be entering the Bitcoin arena with "an exciting new platform" that will reside at www.CryptoCafe.com . Myriad CEO, Derek Ivany, told investors his team has initiated development of a new innovative platform that he expects will enhance the Bitcoin and crypto-currency community. "Our project is not just related to Bitcoin, but other crypto-currencies as well like Litecoin. We have been involved in the world of Bitcoin for the last year, and we are really excited about having the opportunity to bring forward a platform that could introduce the world of crypto-currencies to a much larger audience, on a worldwide scale." Ivany chose not to reveal too much about CryptoCafe fearing competitors would jump on the idea, but an answer may lie in what he did say. "Right now it's difficult for many citizens around the world to process modern currencies. Many face limits and restrictions with traditional service providers like Western Union and PayPal, and then there are some who may not be able to use services like PayPal at all. Crypto-currencies offer a seamless alternative with much lower transaction fees, and no middle man. Today's mobile phone culture allows just about anyone with a Smartphone the opportunity to house a digital wallet and spend crypto-currencies like Bitcoin straight from their phone." Myriad's latest venture should enhance what is becoming an impressive technology portfolio. The company's first two developed technologies, MingleSuite and MyMobiPoints focus on SME's and are in the sales phase, but now Myriad will try its hand at bringing the ultra-popular Bitcoin to the small cap market. About Stock Market Media Group Stock Market Media Group is a full service Investment Relations firm specializing in Research and Content Development. It offers a platform for CEOs to tell their story through the media with Reports, Interviews and Feature Articles. For more information and to read disclaimers and disclosures: www.stockmarketmediagroup.com

2013-12-17 14:00:03+00:00

{"Bitcoin": [29517]}

{}

15 Psychological Triggers to Convert Leads Into Customers

https://finance.yahoo.com/news/15-psychological-triggers-convert-leads-140003486.html

Entrepreneur

http://www.entrepreneur.com/

Would you like to know how to get more customers who can’t wait to buy your products and services? It’s a lot simpler than you might think. And the best part is that, as you strive to increase revenue, you actually will be serving your potential customers better. You don’t need to manipulate or hypnotize them into buying. You just need to give them what they want. The key to success in any business is an understanding of psychology. All human beings essentially have the same mental triggers that drive actions. In order to influence and understand your customers, you need to know what those triggers are and how to utilize them in your marketing message. Why? Because our minds decide what to buy. So if you know how minds function, you have the power to influence the decisions they make. Which is why, although this is a long article, you won’t want to miss the marketing lessons that follow. Here are 15 psychological triggers you can start using today to double your sales: 1. The Driving Forces of All Human Behavior All human behavior, at its root, is driven by the need to avoid pain and the desire to gain pleasure. Even when we do something that appears to be painful, we do it because we associate pleasure with the action. For example, in May 2012, I spent one month dragging a 190-pound sled 350 miles across the second largest icecap in the world in temperatures as low as -40 degrees. Most of the journey was spent in misery and struggle. Yet, I chose to make the crossing because I associated pleasure with the challenge, hard work, and, ultimately, the sense of accomplishment that comes from an expedition of that magnitude. Firefighters run into burning buildings because they associate pleasure with helping people and saving lives. Likewise, marathoners put themselves through 26.2 miles of misery because they associate pleasure with completing the course. This is the basic trigger on which every other one below is based. It underlies the motivation for every single action we take on a daily basis. To use this trigger in your marketing, you need to first understand what your customers associate with pain and pleasure, because not everyone associates pleasure with running a marathon or crossing an icecap. This is a key point to remember in any marketing message: In order to influence someone, you need to know what already influences them. You find this out by getting clear on who your audience is. Once you know who they are and what they want, then use the A to Z technique to implement this trigger in your marketing. Actionable Takeaways The A to Z technique: Story continues Your customers want to get from point A (where they are now) to point Z (where they want to be). In your marketing message, your goal is to teach your leads how to move as close as possible to Z before you ask for their money. The closer you get them to Z, the more likely they are to buy from you in order to go the final few steps needed to arrive at their desired end result. By doing this, in their minds, they start to associate your business with the pleasure they get from the results produced as they arrive at all the milestones between A and Z. 15 Psychological Triggers to Convert Leads Into Customers On this landing page, GoToMeeting is promising the “freedom of online meetings,” for free, with no credit card required! They have just taken me to point Y. I am just one step away from point Z. If I want to get to point Z and enjoy this freedom permanently, then I need to pay them. And I will be far more likely to pay them after having already experienced the taste of the freedom I want. In contrast, to use the pain motivator, show your prospects all the dangers in the road from A to Z and how your product is the weapon they need to defeat those dangers. This is an even stronger motivator than the desire for pleasure because we all have what psychologists call “the negativity bias.” We do more to avoid pain than we do to gain pleasure. This works on a neurological level as well. It has been demonstrated that the brain lights up more from a negative external stimuli than from a positive one. 15 Psychological Triggers to Convert Leads Into Customers Check out this page from the Harvest time-tracking app. Its marketing message is focused around addressing the pain of a complicated time tracking app. Even their testimonial is a reflection of this pain that they know their audience has experienced. Harvest co-founder, Danny Wen, even says “solve a real pain point, and don’t be afraid to charge for it.” Having said that, though, in today’s world people are driven by both forces equally when it comes to buying decisions, because there is just so much out there to choose from now that it gets overwhelming. You will want to address both forces in your marketing. For example, no one really needs an iPad. And we most certainly don’t need an iPad Mini. They don’t solve pressing problems that we as consumers experienced before their release. We were more than happy with our laptops. Yet, people flock to Apple stores at every new release. Why? Because they address a desire, a want, and an aspiration. They make life more pleasurable. On a side note, my wife has an iPad and I own an iPad Mini. 2. Novelty We as human beings love novelty. Neurologically, it has been demonstrated that exposure to something new and unfamiliar increases the release of dopamine in the brain. Novelty makes our brains feel like there is a possibility for reward waiting for us just around the corner. That potential for pleasure motivates us to seek it out. Why do you think Apple releases a new iPhone and iPad every few months? You and I both know that the difference between the older model and the newer one is miniscule. Yet, hundreds of thousands of people toss away their old phones to pick up the latest model. Why does every single car company release a new model every year? Like Apple, more often than not the differences between models are barely noticeable, yet these multibillion dollar corporations make the effort to release and promote new versions of their products. That is no accident. Actionable Takeaway 15 Psychological Triggers to Convert Leads Into Customers Squarespace recently released a new mobile app, and it is pretty clear in their marketing copy that it is new. Anyone remotely interested in their product will be triggered by this. Without customers even knowing it, their brains will light up at the prospect of investing in something new. If you want your prospects to buy your products, create new ones, or just make a few tweaks, update the old ones, and rebrand them. You also could combine this with the scarcity trigger to release a certain product once every few months, so that every time it is released it creates a perception of novelty. Most successful online marketers do this with their information products. They release them it for only a week or so every few months. They could just as easily have the product available for purchase throughout the year, but that would fail to employ the novelty and scarcity triggers, which in turn increase their sales. Novelty can backfire, though, if you appear to be new in a way that signifies lack of experience or credibility. To address this concern, use this trigger in conjunction with the triggers below, especially the ones like providing social proof, simplifying your solution, and building curiosity. 3. Explain Why I will sacrifice one hour of my time to give you a free plan to double your income or give you 100 dollars. What went through you mind as you read that? You want to know why I would do that, right? Of course you do. Because our brains are always searching for answers. In his book Who’s in charge?: Free will and the science of the brain , Dr. Michael Gazzaniga, a psychology professor at the University of California, found that our rational mind is always searching for meanings, even when there is no inherent meaning. Essentially, we seek out explanations to understand everything we experience in life. In the now famous Xerox experiment by psychologist Ellen Langer, she found that people are willing to do more for you if you give them a reason, even if the reason is completely arbitrary. People standing in line to use a photocopier were 34% more likely to let someone cut in front of them, even when their reason was as meaningless as “because I have to make some copies.” Actionable Takeaway 15 Psychological Triggers to Convert Leads Into Customers On this landing page, Startup Weekend doesn’t just invite you to attend their event. They tell you exactly why you should and what you will get out of it. In your marketing copy, explain why you are offering something, and your prospects will be far more likely to comply with your request. 4. Tell a Story Human beings have been telling stories for thousands of years. It is how messages have been passed on from generation to generation. Why? (See what I am doing here!) Because they trigger emotions and we are emotional creatures. Gerard Zaltman, the author of How Customers Think: Essential Insights into the Mind of the Market found that 95% of cognition happens outside of our conscious brain and inside our subconscious, emotional brain . Telling stories activates parts of the brain associated with sight, sound, taste, and movement. They make us feel an experience without directly experiencing it. They literally transport us into the world of the story and light up our emotional brains , which is where we make our decision whether to buy or not. So that is where you as a business owner need to venture into. Actionable Takeaway One of my favorite examples of telling stories to sell a product is Red Bull’s marketing campaign. Their product is an energy drink, but their brand is about exploring the unknown and pushing the limits of human potential. They have built that brand and that association in our collective minds by telling stories of people who exemplify the message they want to convey. Here is another great example : 15 Psychological Triggers to Convert Leads Into Customers Rob Walker, the author of Buying in: What we buy and who we are and Joshua Glen conducted an experiment where they bought hundreds of cheap thrift store items to see if they could sell them by using the power of stories. They invited 200 writers to contribute fictional stories for each of their products and used the stories to sell them on Ebay. They raised almost $8,000, making a 2,700% profit. Not a bad return for telling a few stories. 5. Simplify Your Solution In his bestselling book, Thinking Fast and Slow , Nobel Prize winning psychologist, Daniel Kahneman, says “A general ‘law of least effort’ applies to cognitive as well as physical exertion. The law asserts that if there are several ways of achieving the same goal, people will eventually gravitate to the least demanding course of action. In the economy of action, effort is a cost, and the acquisition of skill is driven by the balance of benefits and costs. Laziness is built deep into our nature.” We always migrate to the easiest option to achieve a desired result. It is no surprise that Stephen Covey’s 7 Habits of Highly Effective People became a multimillion dollar bestseller. It provides a simple formula to follow to become a highly effective person. All it takes is 7 habits. Actionable Takeaway Feed this psychological trigger by creating an easy-to-follow framework for your audience to follow. Show them how your product makes it fool-proof to achieve the result they want in the fastest time possible. Even though we all know deep down that achieving the result we want takes work, we still don’t want to do the work. So give your audience what they want, the easiest and simplest solution, on the front end and teach them what they need on the back end. 15 Psychological Triggers to Convert Leads Into Customers In the above example, Fastrack is telling their audience that they will give them the result they want and they will do it fast. 15 Psychological Triggers to Convert Leads Into Customers In this example, Right Signature is telling you that they are the easiest and fastest way to get the result you want. Use words like easy, step-by-step, fast, system, or framework in your marketing copy to let your prospects know that your solution is the simplest one available and they will be far more likely to buy from you. 6. Create a Common Enemy Create a common enemy and ally with your prospects against it in order to get them fired up to invest in your products and services. Every audience has a common enemy that they believe is the reason they are not getting the results they want. Sociologist Georg Simmel argued that we create common enemies because it unites us with groups of people we believe to be like us . It also allows us to create an explanation for why bad things happen in the world. And remember we are meaning-seeking creatures, so we create enemies to ensure that the world makes sense again. Otherwise, why would bad things happen to good people? People have even gone to war to stand up against a common enemy, which is why this is a very powerful marketing tactic. Actionable Takeaway I know Apple comes up a lot in this article (which is a testament to their brilliant marketing), but they are perfect examples of creating a common enemy to build a brand. Since their early years, they have turned PC into the enemy, and that is why Apple fans are such loyal brand fanatics. They are united with Apple against the “evil” that is PC. Here is an old Apple commercial turning PC users into mindless drones: Here is another more recent commercial where they once again made PC the enemy: The enemy doesn’t have to be a competitor either. Take a look at this brilliant ad from Careerbuilder.com where they turned coworkers, a boring job, and a mean boss into the enemy: You have to be careful with this trigger, though. You don’t want to create an enemy that causes people to dislike your brand. It is a good idea to stay away from politics, race, and religion when defining the enemy. Choose something more general or something that most people see as an enemy anyway, like Careerbuilder did with “the boring 9-5 job.” 7. Inspire Curiosity George Loewenstein, a professor at Carnegie Mellon, discovered that when there is a gap between what we know and what we want to know, we will take action to fill that gap. It is referred to as the Information Gap Theory. Think of it like an itch that needs to be scratched. Our curiosity not only inspires action, it increases activity in the parts of the brain associated with pleasure as well. Triggering curiosity will ensure that your prospects open your emails, promote your content, and buy your products in order to fill the gap between the teaser you leave them with and the answer that lies beyond it. Check out this article from Derek Halpern of Social Triggers to learn more about how to implement curiosity in your marketing. Actionable Takeaway There are many ways to pique the curiosity of your audience. To implement this trigger successfully, combine curiosity with the other triggers mentioned in this article. Here are some examples: One way is to leave your prospects wanting more by using the driving forces of human behavior in your marketing copy. Give them a taste of how they can achieve their desired result or leave behind their existing pain through your products or services. 15 Psychological Triggers to Convert Leads Into Customers Here Zipongo tells me I can get what I “actually need” and get “50-90%off.” I can achieve my desired result and avoid the pain of paying a high price for it? Perfect! Controversy is another great way to pique curiosity. 15 Psychological Triggers to Convert Leads Into Customers Manpacks does a great job of inspiring curiosity through mild controversy. Without knowing what the service is, just by looking at that picture and reading that headline, most men with girlfriends will be immediately interested in reading more about what they have to say. Another great way is to ask questions that you know your audience is asking, like Wistia does here: Here is another one: 15 Psychological Triggers to Convert Leads Into Customers How much does that make you want to open the card? Telling your audience not to do something or self-deprecating yourself in some way is a great way to inspire curiosity. Some of the highest opening rates I have gotten in my email marketing campaigns are with subject lines like “DO NOT open this email,” or “This is the worst (insert anything you want here, such as sales letter) ever.” Get creative with this trigger and test out different ways to see what gets you the best result. 8. Build Anticipation Ever notice how hundreds of people line up for any new Apple product before it is even released? Why is that? Because Apple builds anticipation for any new product release. Sporting events are no different. Weeks before the Super Bowl, hundreds of thousands of Americans across the country plan and prepare for the eagerly awaited event. They tingle with excitement and joy at the thought of opening a beer and watching their favorite teams duke it out for the greatest honor in football. Gretchen Rubin, the bestselling author of The Happiness Project, says that anticipation is a key stage in happiness ; by having something to look forward to, you bring happiness into your life well before the event actually takes place.” Large companies like Apple and Canon even have whole websites dedicated entirely to rumors about their products. This builds anticipation for their eventual releases which in turn increases sales. Actionable Takeaway Create publicity for your products before they are released to get people excited about them. This will trigger pleasurable emotions that they will associate with your product and eventually buy them when your product is released. 15 Psychological Triggers to Convert Leads Into Customers Marie Forleo does this with her flagship product, “Rich Happy and Hot B School.” She doesn’t just announce it, she gets people to sign up so that they can get a “heads up” when the program is released. This gets people excited about it. Next time you are launching a product or service, create publicity for it in your community by announcing it months ahead of time, getting people talking about it and finding influencers to promote its release as well. 9. Use Social Proof This is a very common one, but nonetheless a necessary one to mention. Professor of psychology and bestselling author of Influence: The Psychology of persuasion , Robert Cialdini says “If you can get people who are similar to the person you’re trying to persuade to speak on your behalf, it’s a lot easier for you than if you have to try to hammer your message one more time into a reticent mind.” Human beings are social creatures. We look to others to determine what actions we should take. Actionable Takeaway Show your prospects how much others are benefiting from your product so that they know it works. Use testimonials from your clients or show numbers of how many people use your products to let your audience know that your product produces results. Most of the examples illustrated in this post employ social proof in some manner. Here is another example: 15 Psychological Triggers to Convert Leads Into Customers Not only do they use testimonials from other trusted experts, they have logos of brands that use their software as well. Check out this article for more about how to leverage this strategy. 10. Create References Dan Ariely, the bestselling author of Predictably Irrational states that “humans rarely choose things in absolute terms. We don’t have an internal value meter that tells us how much things are worth. Rather, we focus on the relative advantage of one thing over another, and estimate value accordingly.” Actionable Takeaway All life experiences are judged based on references that we have of previous ones. Create price juxtapositions and offer bargains sporadically to induce a previous reference that makes this new experience worthwhile. This will make people more likely to buy your products. 15 Psychological Triggers to Convert Leads Into Customers By first showing us the $150 a month price tag, Basecamp creates a reference point that then makes the lower price tag just below it far more appealing. 11. Make Your Potential Customers Feel Significant The need to feel significant is ingrained in all of us. Tony Robbins says it is one of the six basic human needs . We as human beings all want to feel important and significant, not just in our own eyes, but since we are social creatures, in the eyes of our peers as well. Actionable Takeaway Make your customer feel important by letting them know you actually care about them, because sadly good customer service is not just a given these days. Try calling Delta airlines customer service hotline and you will know exactly what I mean. Providing not just good, but excellent, customer service makes your prospects feel like you value them, which makes them more likely to buy from you. 15 Psychological Triggers to Convert Leads Into Customers Leo Widrich, the co-founder of Buffer, says “Giving the best customer support possible is at the very top of our list. Like literally, it is the number one thing we want to get done every day.” On their FAQ page, they rightfully make sure their prospects know how much they care about their customers. Another way to make your customers feel significant is to reward them the way credit card companies do when you get their card: 15 Psychological Triggers to Convert Leads Into Customers By signing up for this credit card, I know I will be rewarded. And, as a frequent traveler, this makes me feel valued by the company and more likely to invest in their product. There are many ways to make a person feel valued. At its core, the fundamental principle behind this trigger is actually caring for your customer. People know when someone is faking concern. Nothing substitutes genuinely valuing the needs of your customers. Do that and they will love you for it. 12. Build a Community Aristotle once said “Man is by nature a social animal; an individual who is unsocial naturally and not accidentally is either beneath our notice or more than human. Society is something that precedes the individual. Anyone who either cannot lead the common life or is so self-sufficient as not to need to, and therefore does not partake of society, is either a beast or a god.” We have an inherent need to be a part of a social community and to feel connected to others. It not only makes us feel secure and comfortable, it inspires us to take action to achieve our desired results as well. So if your prospect feels that your product will help them get what they want, they will be more likely to act and hit the buy button. Actionable Takeaway When you sell to a customer, give them something else to make them feel like they are now part of your community. This also builds fanatical loyalty that has your customers proud to be included in your group. One way to build community is with a compelling vision. Or your “why,” as Simon Sinek describes it in his bestselling book, Start With Why: How Great Leaders Inspire Everyone to Take Action.” In the book, Sinek references Apple’s “why” and how they use it in their marketing. Their message to their customers is “In everything we do, we believe in challenging the status quo and thinking differently. We do this by making our products beautifully designed and simple to use. We just happen to make great computers. Do you want to buy one?” Why do you think Apple fans are so loyal to their community? Here is another example of community building in action: 15 Psychological Triggers to Convert Leads Into Customers Starbucks built a community not just with their website about “My Starbucks Idea,” but like Apple, it is the very foundation of their entire business model. As the founder and CEO of Starbucks, Howard Schultz, said “We’re in the people business serving coffee, not the coffee business serving people.” Build your community by creating a compelling why that drives your business forward and enrolls people into your vision for the world. Do this and your tribe will promote your business without you even having to ask for it. 13. What Is Hot Off the Press? Memory is fickle. One minute people are concerned with earthquakes. The next it is a forgotten memory that doesn’t rear its ugly head until the next time there is an earthquake. That is why earthquake insurance sales are highest right after an earthquake, despite the fact that the risk of an earthquake is the lowest after one occurs. People ignore scientists’ warnings of earthquakes and buy insurance only when the risk is minimal. Strange, isn’t it? But that’s just how we function. Daniel Gardner, the author of The Science of Fear, says “recent, emotional, vivid, or novel events are all more likely to be remembered than others.” We react to what is most prevalent in our minds. And where are we getting the information that sticks in our minds? The media. Jonah Berger, the bestselling author of Contagious: Why Things Catch On says “if something is top-of-mind it will be tip-of-the-tongue. Just like peanut butter reminds us of jelly, the more we’re triggered to think about a product or idea, the more we’ll talk about it.” Actionable Takeaway Tie current events or celebrities that are currently on the top of people’s minds into your marketing to create triggers that make people remember your product. 15 Psychological Triggers to Convert Leads Into Customers 15 Psychological Triggers to Convert Leads Into Customers Here you can see how Oreo cookies tied the Mars Rover landing and the anniversary of the moon landing into their marketing. These events were on the top of people’s minds anyway, but now when they think of these events, they will be more likely to think of Oreo cookies as well. Check out this article to learn more about Oreo’s marketing campaign. What current events could you use in your marketing campaign? 14. Implement Scarcity As it has been established, we look to others to determine what action to take. So the less there is of something, the more people perceive it to be a highly valued commodity, which in turn means that the more they will want to buy it. But scarcity can backfire if it’s not used carefully. A study conducted by researchers Worchel, Lee and Adewole, found that a product decreases in value if it first appears scarce and then becomes abundant. Actionable Takeaway You don’t want your audience to think that your product is for only an elite few at first and will open up to “normal” people at a later date. To use scarcity in your marketing, eliminate any possibility of future abundance in the minds of your prospects. Either maintain the scarcity or gradually increase the level of abundance, without revealing it to your audience ahead of time. Some other ways to use scarcity in your marketing are to put a countdown clock on your product page, create a limited number of products in a given time frame, or create a limited level of access. 15 Psychological Triggers to Convert Leads Into Customers Groupon does this with every single product. Right under the buy button, it says “limited time only,” with a countdown clock. So I know that if I want to buy this product, I have to act now. 15. Build Controversy In his research, Jonah Berger, the aforementioned bestselling author of Contagious, found that too much controversy turns people away, but small amounts draw people in. He discovered that “controversy increases likelihood of discussion at low levels, but beyond a moderate level of controversy, additional controversy actually decreases likelihood of discussion.” Mild controversy in your marketing engages your audience. It not only inspires curiosity, but it triggers anger as well. And anger is the most effective emotion in creating viral content. Here is an article with more about the science of creating controversy. Actionable Takeaway Tim Ferris says “Study the top stories at Digg or MSN.com and you’ll notice a pattern: the top stories all polarize people. Do not try to appeal to everyone. Instead, take a strong stance and polarize people. If you make it threaten people’s 3 Bs — behavior, belief, or belongings — you get a huge virus-like dispersion.” 15 Psychological Triggers to Convert Leads Into Customers This is a great example of how HelpScout used a controversial headline to draw readers in. Most people would be outraged at that headline, because it challenged one of the 3 B’s. Challenge one of the 3 B’s, behavior, belief, or belongings, and you will immediately draw people into your marketing message. Like any of the above triggers, get creative with this one. Think about your audience and what their beliefs are. Challenge some of those beliefs or align with them to polarize the other side of the argument. Remember, avoid politics, race, and religion, but everything else is fair game. What other psychological triggers have you used in your business to generate sales? If you are struggling with implementing any of the above triggers in your business or have any questions about how to do so, post them in the comments below and I promise to answer every single one of them. More From Entrepreneur 5 Tips for Maximizing LinkedIn for Your Business Black Friday: A Chance for Bitcoin to Get Some Mainstream Love Why Wait Until Saturday? Small Businesses Seek Black Friday Buzz View comments

2013-12-17 16:50:00+00:00

{"Bitcoin": [36, 503, 662, 1494, 1787, 1970, 2223, 2632, 4555, 4890, 4908, 5074, 5210, 6153, 6288]}

{"Bitcoin": [5]}

What Bitcoin's Latest Price Move Says About the Social Mood of Money

https://finance.yahoo.com/news/bitcoins-latest-price-move-says-165000201.html

Minyanville

http://www.minyanville.com/

A while back, I wrote a piece about Bitcoin and where I thought it fit in the digital landscape of money. It's a leap forward in how we think about what shape/form money can take, for sure. Is it ready for widespread adoption? No. Will it ever be? Possibly, but I doubt it. Regardless of what I or anyone else has said, it has been virtually impossible to escape the chatter of the digital currency since then. And the currency itself has been on a tear: A lot has been made about the price increase in Bitcoin over the past several months. It truly has been staggering. So, of course, the rise in volatility of the crypto-currency has increased. See also: What Bitcoin Arbitrage Can Teach Us About the Crypto-Currency But what's shocking is just how much it has increased. I was really curious about this, because I wanted to quantify it somehow. So I calculated moving standard deviations of 10 and 20 days, just to get a feel for it. But, given the parabolic nature of the price increase, I didn't think that was good enough. So I took those standard deviations and expressed them as a percentage of the 10- and 20-day moving average prices: On some days, a one-standard-deviation move translated into a 41% price move. Think about that. A standard deviation is supposed to cover two-thirds of the possible outcomes for any given population. So to cover two standard deviations, you could wake up to find out you either doubled your money or you were completely wiped out. But okay, sure -- Bitcoins are volatile to trade, we all know that. But they can't be that much more volatile than anything else, can they? Well, yes. I took the same number of trading days in gold between April 2010 and September 2011 -- which is about the same time gold saw its historic peak -- to benchmark Bitcoin with. This chart, which also looks at gold's standard deviation expressed as a percentage of 10- and 20-day moving average prices, gives some perspective on just how volatile Bitcoin is relative to something else, which is typically thought of as being rather volatile in its own right. I don't think much else needs to be said if we're comparing volatility between asset classes: Story continues Another discussion point about Bitcoin has to do with its impact on the economy should it become a strong force: Some say that given that it's a deflationary currency, it wouldn't be conducive to economic growth. The counterargument has always been that the US grew quite well on its own after the Civil War and into the early 20th century, while it was on the gold standard. That is true. See also: Aaron Brown: Can a Value Investor Buy a Bitcoin? But how much does a currency, or a currency standard, have to do with economic growth? Aside from taking away the frictions that come with using physical commodities as the currency to settle transactions, it may not matter as much as you think. Because to look at our use of a gold-backed currency as a reason for economic growth in the mid-19th to early 20th century is to miss the forest for the trees. What am I talking about? Consider this chart from Federal Reserve Bank of Richmond economist John Walter's paper examining bank failures leading up to and through the Great Depression . It's a chart of the number of banks that were in the United States between the mid-1800s through the 1960s: If you read the rest of Walter's paper, he makes the assertion (rightly so, in my opinion) that the bank failures of the Great Depression era were the result of a banking bust following several decades of relentless growth and massive technological upheaval in late Victorian-era America. The fact that we could see a rise in bank failures before the Depression and the Crash of 1929 only add credence to one of Todd Harrison's oft-repeated sayings that the stock market crash didn't usher in the Great Depression, but rather the Great Depression caused the market to crash. Mood was already negative and growing. The fact is that bank failures started rising in 1921. See below: My point is this: The type of currency is of little consequence so long as positive social mood drives behavior that fosters the expansion of credit within the economy. Meaning, the real driver of the economic expansion back then was the expansion of credit and overall willingness to take on risk, not the kind of currency used. If people are feeling good about their world today, and they see that positive feeling carrying through to tomorrow, next week, or next year, their risk appetites will expand. Given that the ethos behind Bitcoin is a perpetual state of distrust of everyone and everything, it is the ultimate vehicle to express falling social mood (i.e. "me, here, now" behaviors). But what I didn't know about was the proliferation of copycat crypto-currencies . And what's really interesting is that they all seem to be following the same price trend as Bitcoin. So while Bitcoin is the crypto-currency poster child, the world according to crypto-currencies is highly fragmented and very illiquid. But here's the real Achilles' heel of a Bitcoin and its ilk: As they are designed, crypto-currencies don't really foster the use of credit within their economy. No one borrows Bitcoins or any other digital currency to buy something. It's a "me, here, now" kind of purchase, or nothing. Trans-Atlantic cables for telegrams and telephones didn't get laid because someone had all of the money up front, they got laid because someone took a chance and lent the money out, expecting to get repaid over time by some future date. That takes trust. And as people trust other people and institutions again, fears subside. The latest congressional budget deal is an example. Sure, it's a measly deal, and there were no grand bargains struck. But given where Congress was two months ago, it's an improvement. Maybe, just maybe, social mood is starting to turn more positive. I'll admit it's something I've been waiting to see for the past couple years. So while it may not have turned yet, every day brings us closer to that eventuality. Have we seen the end of societal acrimony or political dysfunction? No. But I will say that Bitcoin and the other crypto-currencies can act as a pretty good barometer of what our social mood is like now. Related: The Basics on Bitcoin: 11 Things to Know About This Suddenly 'Hot' Digital Currency Twitter: @japhychron Related Articles Gold and Silver at a Crossroads Gold Is Nearing a Type of Endgame, May Take Traders by Surprise Why This Economy Is More Sensitive to Interest Rates Than You Think

2013-12-17 18:18:00+00:00

{"Bitcoin": [118, 299, 633, 1591, 1601, 1808, 2210, 2296, 2386, 2599, 2648, 2736, 2895, 3513, 4005, 4038, 4189, 4297, 4677, 4850, 4907, 4944]}

{"Bitcoin": [4]}

Why Bitcoin Inventor 'Satoshi Nakamoto' Is The Most Impressive Person Of 2013

https://finance.yahoo.com/news/finance.yahoo.com/news/why-named-bitcoin-inventor-satoshi-181800404.html

Business Insider

http://www.businessinsider.com/

bitcoin satoshi nakamoto Mike Nudelman/Business Insider Satoshi Nakamoto, the person who created the digital currency Bitcoin, is our person of the year . Don't laugh. Although to this day no one knows who Satoshi Nakamoto is (or are — for the latest theories check out Chart Girl's running chart ) Bitcoin evangelists make the case that his true identity doesn't matter: what he's created is changing the world. It's an assertion you hear a lot in the arts world too: you should know the man (or men, or woman — there's nothing to suggest Satoshi couldn't be one) by their works, not their biography. This is a convincing argument. Bitcoin wasn't the first digital currency ( think World of Warcraft ), and, as we've documented , wasn't the last. But Satoshi managed to come up with something that is simply more farsighted and bulletproof than anything else, combining the best features of existing digital coins while adding his own perfections. In particular, he addressed one of the biggest problems in online transactions: fraud. In the real world, it's the job of a centralized authority to prevent that from happening. But Satoshi figured out a workaround by cutting out that middleman: just make all transactions public, and have the entire community confirm a transaction is legit. "We have proposed a system for electronic transactions without relying on trust," Satoshi wrote in his 2008 spec paper laying out the currency — a line which, it now seems, will echo through generations. Perhaps his most brilliant idea was making sure you couldn't hack the ability to create excess Bitcoins. Bitcoins are "mined" by computers unscrambling blocks of "hashes" or complex strings of numbers and letters. Satoshi's solution was to continuously increase the difficulty of unscrambling the hashes as more Bitcoins were created. As he wrote, " To compensate for increasing hardware speed ... the proof-of-work difficulty [the unscrambling] is determined by a moving average targeting an average number of blocks per hour. If they're generated too fast, the difficulty increases." Story continues Even the folks behind hashcash, an early digital currency which Satoshi admits he was inspired by, had to admit Bitcoin was "an extremely clever innovation and invention," and "a first." But why is Bitcoin such a big deal? Bank of America analyst David Woo's recent note best boiled down Bitcoin's three main uses: as a store of value, like gold; as a way to buy stuff online, and as a means for remitting money. And in most instances it's cheaper, easier, and more secure to do all these things with Bitcoin. The first two have been occurring since Bitcoin's birth, and the advent of the last one is imminent . In absolute dollar terms, Bitcoin has already surpassed Western Union for transaction volume, and is nipping at the heels of PayPal. Of course this is all entirely subjective, and even Bitcoin's most passionate evangelists don't rule out that some technological or regulatory catastrophe could cause its value to plunge to zero. When we decided to name Satoshi "Person of the Year," we considered who and what else has changed society in the past 12 months. We respect the actual choice made by Time — Pope Francis has a clear set of goals, is hyper aware of the issues of the day, and really lives his religion. Obviously, though, we have a business bias. We were not about to give the title to Paul Volcker, whose rule, while extremely meaningful, does not possess the same kind of worldwide reach as Bitcoin. Ben Bernanke could have gotten it (and possibly the Nobel Peace Prize) every year since 2009, but consecutive years of basically doing the same great stuff rules him out for 2013. Carl Icahn made an extremely impressive case for putting the fear of god into companies, but he is not quite a household name. Neither, of course, is Satoshi. But what were you talking more about over cranberry and stuffing a few weeks ago: Carl Icahn's Tweets? Or regrets about having not gotten in on Bitcoin sooner? One final use of Bitcoin that is often under-discussed: its use as a solution for the "unbanked," or people without access to financial instruments. As with everything Bitcoin, this may seem far-fetched at first blush. How could people who may lack access to the Internet use Bitcoin? But investors have made the case that these communities would use their cell phones — which are widespread in the developing world — as the primary medium through which these people would interact with the currency. Possessing the ability to securely send and receive funds from your pocket is a big deal for someone without access to a bank account. If that takes hold, Bitcoin could even begin nibbling at inequality — something Pope Francis could respect. More From Business Insider We're Actually Surprised By How Many Americans Know About Bitcoin No, Fidelity Is Not Letting Retail Investors Put Bitcoin In Their Retirement Accounts Bitcoin Just Rocketed past $1,000 Again

2013-12-17 21:56:23+00:00

{"Bitcoin": [2216, 2281]}

{}

Elizabeth Warren Wants To Ban Companies From Using Credit Checks On Potential Employees

https://finance.yahoo.com/news/elizabeth-warren-wants-ban-companies-215623298.html

Business Insider

http://www.businessinsider.com/

elizabeth warren first press conference as senator elect Boston Herald Sen. Elizabeth Warren introduced a bill today that would prevent companies from using credit reports in hiring decisions . Since the Great Depression, many unemployed Americans have struggled to find a job once employers check their credit history. Many of these people fell on hard times after the housing bubble burst or faced an unforeseen medical issue. Warren argues that since research has shown that a person's credit report has no indication on their job performance, companies shouldn't be allowed to use them in evaluating applicants. "A bad credit rating is far more often the result of unexpected medical costs, unemployment, economic downturns, or other bad breaks than it is a reflection on an individual's character or abilities," she said. "Families have not fully recovered from the 2008 financial crisis, and too many Americans are still searching for jobs. It makes no sense to make it harder for people to get jobs because of a system of credit reporting that has no correlation with job performance and that can be riddled with inaccuracies. " Warren is right that this has hurt many Americans looking for jobs, but another potentially more worrisome problem with firms using credit reports in hiring decisions is that they use them to discriminate against applicants. For instance, the Department of Labor won a case against Bank of America in 2010 for its use of credit checks to discriminate against African-Americans for entry-level positions. If studies showed that credit reports were a good proxy for an applicant's job performance, then Congress would need to crack down on the discriminatory practices without banning the use of credit reports in hiring decisions. But given that research shows otherwise, Congress can ban the practice altogether and ensure that companies cannot use credit reports as a roundabout way to discriminate while also not reducing companies' ability to evaluate job applicants. Correction: Companies uses credit reports, not credit scores in hiring decisions. More From Business Insider New Obama Adviser Compares Republicans To A 'Cult Worthy Of Jonestown' — And Then Apologizes CRASH: Bitcoin Collapses After Major Blow From China FINANCE PROFESSOR: Bitcoin Will Crash To $10 By Mid-2014

2013-12-17 21:56:23+00:00

{"Bitcoin": [2216, 2281]}

{}

Elizabeth Warren Wants To Ban Companies From Using Credit Checks On Potential Employees

https://finance.yahoo.com/news/finance.yahoo.com/news/elizabeth-warren-wants-ban-companies-215623298.html

Business Insider

http://www.businessinsider.com/

elizabeth warren first press conference as senator elect Boston Herald Sen. Elizabeth Warren introduced a bill today that would prevent companies from using credit reports in hiring decisions . Since the Great Depression, many unemployed Americans have struggled to find a job once employers check their credit history. Many of these people fell on hard times after the housing bubble burst or faced an unforeseen medical issue. Warren argues that since research has shown that a person's credit report has no indication on their job performance, companies shouldn't be allowed to use them in evaluating applicants. "A bad credit rating is far more often the result of unexpected medical costs, unemployment, economic downturns, or other bad breaks than it is a reflection on an individual's character or abilities," she said. "Families have not fully recovered from the 2008 financial crisis, and too many Americans are still searching for jobs. It makes no sense to make it harder for people to get jobs because of a system of credit reporting that has no correlation with job performance and that can be riddled with inaccuracies. " Warren is right that this has hurt many Americans looking for jobs, but another potentially more worrisome problem with firms using credit reports in hiring decisions is that they use them to discriminate against applicants. For instance, the Department of Labor won a case against Bank of America in 2010 for its use of credit checks to discriminate against African-Americans for entry-level positions. If studies showed that credit reports were a good proxy for an applicant's job performance, then Congress would need to crack down on the discriminatory practices without banning the use of credit reports in hiring decisions. But given that research shows otherwise, Congress can ban the practice altogether and ensure that companies cannot use credit reports as a roundabout way to discriminate while also not reducing companies' ability to evaluate job applicants. Correction: Companies uses credit reports, not credit scores in hiring decisions. More From Business Insider New Obama Adviser Compares Republicans To A 'Cult Worthy Of Jonestown' — And Then Apologizes CRASH: Bitcoin Collapses After Major Blow From China FINANCE PROFESSOR: Bitcoin Will Crash To $10 By Mid-2014

2013-12-17 22:25:00+00:00

{"Bitcoin": [1619, 1726, 1869]}

{}

WPCS Announces Acquisition of New Line of Business

https://finance.yahoo.com/news/wpcs-announces-acquisition-line-business-222500226.html

Marketwired

http://www.marketwired.com/

EXTON, PA--(Marketwired - Dec 17, 2013) - WPCS International Incorporated ( NASDAQ : WPCS ), ("WPCS" or the "Company"), which specializes in design-build engineering services for communications infrastructure, today announced that it has entered into various agreements to acquire BTX Trader LLC (BTX), an early stage technology company currently engaged in the development of a proprietary trading platform for the emerging bitcoin industry. The BTX acquisition is expected to add a new line of business to the Company's existing operations. To acquire BTX, the Company entered into a securities purchase agreement (the Purchase Agreement) with certain investors in which WPCS sold 2,348 shares of a newly designated Series E Preferred Stock (the Preferred Stock) and warrants to purchase up to 1,500,000 shares of its common stock (the Warrants), for 100% of the membership interests of BTX. Each share of Preferred Stock has a stated value of $1,000 and is convertible into shares of the Company's common stock equal to the stated value (and all accrued but unpaid dividends) divided by the conversion price of $3.50 per share. The Preferred Stock accrues dividends at a rate of 12% per annum, payable quarterly in arrears. The Warrants have an exercise price of $5.00 per share. Neither the Preferred Stock nor the Warrants are convertible or exercisable, respectively, until the Company obtains its stockholders' approval for (i) the increase in the number of shares of common stock authorized for issuance to 75 million; and (ii) the issuance of all of the securities issuable pursuant to the Purchase Agreement. Bitcoin is a digital or virtual currency that uses peer-to-peer technology to facilitate instant payments. Bitcoin is a type of alternative currency known as a cryptocurrency, which uses cryptography for security, making it difficult to counterfeit. Bitcoin issuance and transactions are carried out collectively by the network, with no central authority, and allows users to make secure, verified transfers. BTX has developed and is currently beta testing its trading system to offer bitcoin traders advanced charting, trading blotters, and trading integration across five of the major bitcoin exchanges, which will allow users to see liquidity, route orders, and identify arbitrage opportunities across all platforms, and to control trading risks with access to stop loss orders. Story continues Sebastian Giordano, Interim Chief Executive Officer, commented, "We are very excited about bitcoin and the prospect offered by BTX to enter a very fast-growing market. We believe that the software platform developed by BTX will support the opportunities to advance bitcoin as an asset class, currency, money transfer mechanism, and important alternative in the financial markets space. As one of the first publicly traded companies to make an early entrance into the bitcoin space, we believe this transaction is consistent with ongoing efforts to provide the Company with an opportunity to deliver improved shareholder value in the future." About WPCS International Incorporated: WPCS is a design-build engineering company that focuses on the implementation requirements of communications infrastructure. The Company provides its engineering capabilities including wireless communication, specialty construction and electrical power to the public services, healthcare, energy and corporate enterprise markets worldwide. For more information, please visit www.wpcs.com . Statements about the company's future expectations, including future revenue and earnings and all other statements in this press release, other than historical facts, are "forward looking" statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time. The company's actual results could differ materially from expected results. In reflecting subsequent events or circumstances, the company undertakes no obligation to update forward-looking statements.

2013-12-17 22:25:00+00:00

{"Bitcoin": [1619, 1726, 1869]}

{}

WPCS Announces Acquisition of New Line of Business

https://finance.yahoo.com/news/finance.yahoo.com/news/wpcs-announces-acquisition-line-business-222500226.html

Marketwired

http://www.marketwired.com/

EXTON, PA--(Marketwired - Dec 17, 2013) - WPCS International Incorporated ( NASDAQ : WPCS ), ("WPCS" or the "Company"), which specializes in design-build engineering services for communications infrastructure, today announced that it has entered into various agreements to acquire BTX Trader LLC (BTX), an early stage technology company currently engaged in the development of a proprietary trading platform for the emerging bitcoin industry. The BTX acquisition is expected to add a new line of business to the Company's existing operations. To acquire BTX, the Company entered into a securities purchase agreement (the Purchase Agreement) with certain investors in which WPCS sold 2,348 shares of a newly designated Series E Preferred Stock (the Preferred Stock) and warrants to purchase up to 1,500,000 shares of its common stock (the Warrants), for 100% of the membership interests of BTX. Each share of Preferred Stock has a stated value of $1,000 and is convertible into shares of the Company's common stock equal to the stated value (and all accrued but unpaid dividends) divided by the conversion price of $3.50 per share. The Preferred Stock accrues dividends at a rate of 12% per annum, payable quarterly in arrears. The Warrants have an exercise price of $5.00 per share. Neither the Preferred Stock nor the Warrants are convertible or exercisable, respectively, until the Company obtains its stockholders' approval for (i) the increase in the number of shares of common stock authorized for issuance to 75 million; and (ii) the issuance of all of the securities issuable pursuant to the Purchase Agreement. Bitcoin is a digital or virtual currency that uses peer-to-peer technology to facilitate instant payments. Bitcoin is a type of alternative currency known as a cryptocurrency, which uses cryptography for security, making it difficult to counterfeit. Bitcoin issuance and transactions are carried out collectively by the network, with no central authority, and allows users to make secure, verified transfers. BTX has developed and is currently beta testing its trading system to offer bitcoin traders advanced charting, trading blotters, and trading integration across five of the major bitcoin exchanges, which will allow users to see liquidity, route orders, and identify arbitrage opportunities across all platforms, and to control trading risks with access to stop loss orders. Story continues Sebastian Giordano, Interim Chief Executive Officer, commented, "We are very excited about bitcoin and the prospect offered by BTX to enter a very fast-growing market. We believe that the software platform developed by BTX will support the opportunities to advance bitcoin as an asset class, currency, money transfer mechanism, and important alternative in the financial markets space. As one of the first publicly traded companies to make an early entrance into the bitcoin space, we believe this transaction is consistent with ongoing efforts to provide the Company with an opportunity to deliver improved shareholder value in the future." About WPCS International Incorporated: WPCS is a design-build engineering company that focuses on the implementation requirements of communications infrastructure. The Company provides its engineering capabilities including wireless communication, specialty construction and electrical power to the public services, healthcare, energy and corporate enterprise markets worldwide. For more information, please visit www.wpcs.com . Statements about the company's future expectations, including future revenue and earnings and all other statements in this press release, other than historical facts, are "forward looking" statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time. The company's actual results could differ materially from expected results. In reflecting subsequent events or circumstances, the company undertakes no obligation to update forward-looking statements.

2013-12-17 22:28:32+00:00

{"Bitcoin": [147, 460, 583, 953, 1105, 1274, 1752, 2385, 2584, 2785, 3680]}

{"Bitcoin": [23]}

U.S. Treasury cautions Bitcoin businesses on legal duties

https://finance.yahoo.com/news/u-treasury-cautions-bitcoin-businesses-222832667.html

Reuters

http://www.reuters.com/

By Brett Wolf ST. LOUIS (Reuters) - The U.S. Treasury Department's anti money-laundering unit is warning businesses linked to the digital currency Bitcoin that they may have to comply with federal law and regulation as money transmitters, a Treasury spokesman said. Treasury's Financial Crimes Enforcement Network (FinCEN) has sent "industry outreach" letters to about a dozen firms, regarding potential anti-money laundering compliance obligations related to Bitcoin businesses, FinCEN spokesman Steve Hudak told Thomson Reuters' regulatory information service Compliance Complete. Bitcoin, which unlike conventional money is bought and sold on a peer-to-peer network independent of any central authority, has grown popular among users who lack faith in the established banking system. It has also raised concerns among law-enforcement authorities that digital currencies could be used for laundering money. The letters have had a "chilling effect" on Bitcoin businesses, which are intimidated by the threat of civil and criminal sanctions for non-compliance, said Jon Matonis, executive director of the Bitcoin Foundation, an advocacy group. The firms, he said, may effectively be "put out of business in an extrajudicial manner." Brad Jacobsen, a lawyer representing one Bitcoin businessman who received a letter from FinCEN, said his client has chosen to suspend his business activity "while state and federal compliance matters are considered and/or appropriate exemptions are determined." FinCEN's letters, which ask recipients for more information about their business models, put the firms on notice that there is a legal "gray area," so they are "better off to err on the side of caution" and comply with FinCEN's rules, Matonis said. Certain Bitcoin businesses came under FinCEN regulation in March when the Treasury bureau issued guidance defining some players in the digital currency industry as money transmitters. For more than a decade the money-transmission industry, which includes firms such as Western Union and PayPal, has been required to enact anti-money laundering controls, report suspicious activity, register with FinCEN and obtain state licenses. Story continues These steps are required to comply with the Bank Secrecy Act, the main anti-money laundering statute, and avoid running afoul of a federal law that bans unlicensed money transmitters. While some Bitcoin businesses reject FinCEN's assertion that they are money transmitters, a number have still registered with the agency, a search of the Treasury bureau's website shows. FinCEN sent letters to Bitcoin-related businesses on the Internet that appeared to fall under its definition of money transmitters but had not registered, Hudak said. He said FinCEN will keep sending letters to unregistered Bitcoin businesses. "As we come across them, and as people tip us off, we'll make inquiries. That is part of what we do," Hudak said. PUTTING BUSINESSES ON HOLD Mike Caldwell, who runs a business out of his Utah home that accepts digital bitcoins from customers and turns them into metal coins that hold the "private key" needed to redeem the currency, received one of FinCEN's letters, as first reported by the online publication Wired. Jacobsen, Caldwell's lawyer, told Compliance Complete that "out of an abundance of caution" Caldwell's business, Casascius LLC, reacted to the letter by registering with FinCEN and suspending business activity. "Laws and regulations related to virtual currencies are in a state of flux and we are working to determine how to appropriately comply with any that are applicable to our client. Casascius LLC is committed to furthering the use and acceptance of Bitcoins but is also committed to complying with applicable law," Jacobsen said. The identities of the other recipients of FinCEN's letters are not known. NEW ENFORCEMENT PRECEDENT A legal expert with years of experience representing digital currency firms said FinCEN seemed to be establishing a new regulatory enforcement precedent by warning individual businesses of compliance obligations before taking action. "Is this setting a new standard that in the future if there are any questionable business models there will be notice given before any action is taken?" said Carol Van Cleef, a partner with the Washington law firm Patton Boggs LLP. In response, Hudak said the letters are an attempt at gathering information. He likened them to the letters that banks sometimes send to customers seeking information about the customer's transactions in an effort to determine whether suspect transactions are truly linked to illicit activity. (This article was produced by the Compliance Complete service of Thomson Reuters Accelus. Compliance Complete ( http://bit.ly/16Ebxub ) provides a single source for regulatory news, analysis, rules and developments, with global coverage of more than 230 regulators and exchanges. Follow Accelus compliance news on Twitter: @GRC_Accelus) (Editing by Randall Mikkelsen and David Gregorio)

2013-12-18 08:58:16+00:00

{"Bitcoin": [617, 1535, 1636, 2286, 2864, 3379, 4482, 5241, 5435], "BTC": [1574, 1752, 1924, 2495, 4523]}

{"Bitcoin": [0]}

Bitcoin price halves as China clampdown escalates

https://finance.yahoo.com/news/bitcoin-price-halves-china-clampdown-085816934.html

CNBC

http://www.cnbc.com/

Getty Images The price of bitcoin has plummeted by 50 percent since record highs in late November with selling accelerating after reports that the People's Bank of China (PBoC) has ordered third-party payment providers to stop using the virtual currency. On Wednesday the price of a bitcoin (:MTGOXUSD) fell to below $600 after stabilizing near $800 for the last couple of weeks after a price slump from $1,200 in late November. At 8 a.m. London time on Wednesday the currency was trading at $555 on major exchange Mt Gox and $550 on CoinDesk's index, which measures a basket of prices around the world. ( Read more: Bitcoin crashes 20% on China clampdown fears ) China's central bank has ordered third-party payment agencies - which provide clearing services for bitcoin exchanges - to stop any "custody, trading and other services" related to the virtual currency, according to a report Tuesday by Yicai.com . The Chinese website - which is affiliated with the China Business Network TV station - added that platforms were told to end working relationships with virtual currency exchanges before Chinese New Year which commences at the end of January. Zhou Jinhuang, the deputy director of payment clearance at the People's Bank of China is reported to have chaired the closed-door meeting on Monday when more than 10 third-party payment platforms were given the news. Attendees included a representative from Alipay, which is China's leading third-party online payment solution, according to its website. ( Read more: Buyer beware: Bitcoin's fate could rest with China ) BTC China, the world's largest bitcoin exchange, according to Bitcoinity.org, stopped accepting deposits in Chinese yuan on Wednesday due to the clampdown. Bobby Lee, the CEO of BTC China told CNBC that he had received notice from his third-party payment processor on Wednesday. "They essentially have cut us off from allowing customer deposits into BTC China's bitcoin exchange," he said. "Customers don't have to worry, the deposits are still here, the withdrawals will still be allowed. So there's no need to panic on that." Story continues Lee added that he believes the recent clampdown is not due to government officials in the country fearing that bitcoin is helping customers to move yuan out of China. "Bitcoin exchanges are legal...so our business model is still valid but we're under some pressure in terms of being able to work with third-party payment companies. So we're looking for alternatives," he said. BTC China only deals with bitcoin yuan trades due to the strict currency controls in the country. Lee said that his company did not have any near-term plans to look at other currencies. Zennon Kapron, founder of Shanghai-based financial consultancy group Kapronasia, agrees with Lee that the clampdown wasn't necessarily due to fears of capital outflows. ( Read More : Bitcoin: CNBC Explains ) "The wealthy in China have always found ways, ether legally or illegally, to move their money out of the country," he told CNBC via telephone. He said that hints from the central bank that bitcoin exchanges were still legal meant there were "mixed messages" from the government. Chinese curbs may have hit the price of bitcoin hard but Kapron believes that the U.S. still plays a major role in the industry and it remains to be seen how U.S. authorities will regulate the digital currency. Bitcoin is a "virtual" currency that allows users to exchange online credits for goods and services. While there is no central bank that issues them, bitcoins can be created online by using a computer to complete difficult tasks, a process known as mining. Some 12 million bitcoins are believed to be in circulation, with a cap of 21 million - meaning no more bitcoins can be created after that point. The initial fall in price in early December coincided with a statement released on the website of China's central bank which warned of the risks that the crypto currency posed. It warned that Chinese financial institutions should not trade the digital currency saying that while it does not yet pose a threat to China's financial system, it carries risks. Its surge to over $1,000 in November was attributed partly to increased interest from Chinese users as well as favorable comments by regulatory officials at a U.S. Senate hearing in November. Former Federal Reserve Vice Chairman Alan Blinder has been quoted as saying that the crypto currency shows "promise". ( Read more: In the Murky World of Bitcoin, Fraud Is Quicker Than the Law ) BTC China exchange is now believed to have the highest number of registered users and received $5 million in November from institutional investors Lightspeed China Partners and Lightspeed Venture Partners. Chinese search engine Baidu announced in October that it had started to accept bitcoin for its security service. This came after Chinese state television company CCTV broadcast a documentary detailing the digital currency in the summer. Many analysts see that as a key point at which interest in bitcoin increased. Downloads of bitcoin wallets surged in China in the days following the documentary, according to statistics from SourceForge, rising to second place in the global ranking behind the United States. Bitcoincharts.com has data that shows the Chinese yuan is the second most traded currency pair with bitcoin after the U.S. dollar. - CNBC.com's Matt Clinch. Follow him on Twitter More From CNBC Bitcoin crashes 20% on China clampdown fears As bitcoin tops $1,200, its fate could rest in China Why bitcoin may never be ready for popular consumption

2013-12-18 10:15:00+00:00

{"Bitcoin": [715]}

{}

Yet Another Two-Bit Proposal for a Dollar Coin

https://finance.yahoo.com/news/yet-another-two-bit-proposal-101500531.html

The Fiscal Times

http://www.thefiscaltimes.com/

The idea that the U.S. should begin minting a $1 coin and do away with the iconic dollar bill resurfaces every few years. People won’t use it, and businesses hate the idea, but the dollar coin keeps coming back like…well…a bad penny. In the 1970s it was the Susan B. Anthony Dollar. If they used them at all, people confused them for quarters, and any transaction involving them was bound to require explanations to both a cashier and, possibly, a store manager. In 2000 it was the “golden dollar” with the image of Lewis and Clark’s Shoshone guide Sacagawea. More recently, in 2007, new dollar coins were minted with the images of former presidents on the front. Nobody used those, either. Related: Why Regulating Bitcoin is Like Herding Cats In a white paper released this month researchers from the Federal Reserve were asked to study the viability of the dollar coin as a replacement for the dollar bill and their findings were as follows: “The overarching goal of this study is to provide an analytical framework for the public to better understand the effects, risks, and benefits of withdrawing the $1 Federal Reserve note from payment system circulation. This paper finds that under a broad range of assumptions the $1 Federal Reserve note is currently the more efficient payment instrument compared with the $1 coin.” Roughly translated from Fed-speak, this means: “The dollar coin is a terrible idea. Please stop bothering us with it.” The researchers found that the use of dollar coins is “inherently inefficient” within the payments system. Because people use coins differently than notes, they found, the Mint would need to produce more than one dollar coin for every dollar bill taken out of circulation. Related: Canada’s New Currency Prompts Legal Money Laundering Dollar coins are also not cost-effective, according to the study. They cost much more to make on a per-unit basis and the difference “is not offset by the longer life of the coin.” Story continues Turns out, the old dollar bill is the workhorse of the currency world. The Fed looked at a number of other countries that have replaced their lowest denomination notes with coins, and determined that the average life of the note being replaced was 10 months. The dollar bill, by contrast, stays in circulation for an average 70 months. The difference is the cotton-linen blend of paper used by the U.S. Mint, which is far more durable than the cotton substrate used in other countries. Low-denomination note life in various countries, 2001 Costs incurred by the private sector from switching to a dollar coin, which would include increased transportation costs related to the heavier coin and retrofitting of existing currency-handling equipment, they found, could run into the hundreds of millions of dollars. The Government Accountability Office has been one of the primary drivers of the push to move to a dollar coin, releasing various studies over the years insisting that it would save the government money. However, the Fed researchers argued that the GAO’s assumptions – including an overly optimistic replacement rate for the coins – were so uncertain as to call the agency’s findings into question. The Fed’s findings ought to be the final stake through the heart of the dollar coin, but it keeps turning up like a bad penny. Follow Rob Garver on Twitter @rrgarver Top Reads from the Fiscal Times: Government Blatantly Wastes $30 Billion This Year With Budget Deal Done, Ryan and Murray Eye Tax Reform Investing 2014: The Smart Money Is on European Stocks

2013-12-18 11:49:10+00:00

{"Bitcoin": [1628], "BTC": [282, 541, 590, 699, 943]}

{}

China tightens curbs on bitcoin trade

https://finance.yahoo.com/news/china-tightens-curbs-bitcoin-trade-114910675.html

Reuters

http://www.reuters.com/

By Adam Rose BEIJING, Dec 18 (Reuters) - A Chinese bitcoin exchange platform announced on Wednesday that it had stopped taking Chinese yuan deposits, sending the price of the virtual currency down sharply as China broadened its crackdown on domestic bitcoin trading. Shanghai-based BTC China, the world's largest bitcoin exchange by volume, posted a notice about the new regulations on its website, two weeks after Beijing banned financial institutions from trading in bitcoin, due to the risks involved. "Due to new government regulations, BTC China will temporarily suspend CNY deposits. BTC deposits/withdrawals and CNY withdrawals are not affected, and will continue to operate in the interim," BTC China said in the notice. The platform could no longer handle new deposits because its third-party payment provider had abruptly cut off service, said Chief Executive Bobby Lee. "It was disconnected against our will," said Lee, adding that BTC China had switched to the provider on Sunday as a precautionary measure. On Tuesday, the Chinese Business News reported that the government had asked third-party payment services to stop handling bitcoin transactions. It was not immediately clear whether other exchange platforms were affected. The yuan-bitcoin exchange rate on BT China has dropped 46 percent from Monday, and 60 percent since a peak on Dec. 1. The exchange rate on rival platform FXBTC.com has fallen 70 percent from its Nov. 30 peak. Over the past two months, the value of bitcoin relative to the dollar has skyrocketed some 800 percent as speculators have piled into the currency, according to bitcoinity.org. Bitcoin market operators say Chinese nationals are major market participants and hold an outsize share of the total number of bitcoins in circulation. The government this month issued a statement banning financial institutions from trading in bitcoin, but did not ban individual trading. [ID: nL4N0JK1KZ] The statement, on the website of the People's Bank of China (PBOC), said the government would act to prevent money laundering risks from bitcoin, which is not backed by a government or central bank. The PBOC may have cause to be concerned about bitcoin, which is anonymous, untraceable, and can be carried on memory sticks or transmitted electronically, because it represents a potential hole in the country's capital controls. However, analysts point out that, given the tiny value of the total bitcoin in circulation relative to other currencies, it is unlikely to have much impact on the wider economy.

2013-12-18 11:54:06+00:00

{"Bitcoin": [1628], "BTC": [274, 533, 582, 691, 935]}

{}

China tightens curbs on bitcoin trade

https://finance.yahoo.com/news/china-tightens-curbs-bitcoin-trade-115406843.html

Reuters

http://www.reuters.com/

By Adam Rose BEIJING (Reuters) - A Chinese bitcoin exchange platform announced on Wednesday that it had stopped taking Chinese yuan deposits, sending the price of the virtual currency down sharply as China broadened its crackdown on domestic bitcoin trading. Shanghai-based BTC China, the world's largest bitcoin exchange by volume, posted a notice about the new regulations on its website, two weeks after Beijing banned financial institutions from trading in bitcoin, due to the risks involved. "Due to new government regulations, BTC China will temporarily suspend CNY deposits. BTC deposits/withdrawals and CNY withdrawals are not affected, and will continue to operate in the interim," BTC China said in the notice. The platform could no longer handle new deposits because its third-party payment provider had abruptly cut off service, said Chief Executive Bobby Lee. "It was disconnected against our will," said Lee, adding that BTC China had switched to the provider on Sunday as a precautionary measure. On Tuesday, the Chinese Business News reported that the government had asked third-party payment services to stop handling bitcoin transactions. It was not immediately clear whether other exchange platforms were affected. The yuan-bitcoin exchange rate on BT China has dropped 46 percent from Monday, and 60 percent since a peak on December 1. The exchange rate on rival platform FXBTC.com has fallen 70 percent from its November 30 peak. Over the past two months, the value of bitcoin relative to the dollar has skyrocketed some 800 percent as speculators have piled into the currency, according to bitcoinity.org. Bitcoin market operators say Chinese nationals are major market participants and hold an outsize share of the total number of bitcoins in circulation. The government this month issued a statement banning financial institutions from trading in bitcoin, but did not ban individual trading. The statement, on the website of the People's Bank of China (PBOC), said the government would act to prevent money laundering risks from bitcoin, which is not backed by a government or central bank. Story continues The PBOC may have cause to be concerned about bitcoin, which is anonymous, untraceable, and can be carried on memory sticks or transmitted electronically, because it represents a potential hole in the country's capital controls. However, analysts point out that, given the tiny value of the total bitcoin in circulation relative to other currencies, it is unlikely to have much impact on the wider economy. (Editing by Jeremy Laurence)

2013-12-18 11:58:00+00:00

{"Bitcoin": [2381, 2443], "BTC": [2459]}

{}

10 Things You Need To Know This Morning

https://finance.yahoo.com/news/10-things-know-opening-bell-115820800.html

Business Insider

http://www.businessinsider.com/

Ben Bernanke REUTERS/Kevin Lamarque Chairman of the Federal Reserve Ben Bernanke speaks at the Federal Reserve Conference on Key Developments in Monetary Policy in Washington October 8, 2009. Good morning. Here's what you need to know. Markets in Asia were mixed in overnight trading. The Japanese Nikkei 225 jumped 2.0%, the Hong Kong Hang Seng rose 0.3%, and the Shanghai Composite fell 0.1%. European markets are rallying, led by Germany and Italy, both up 1.0%. In the United States, futures point to a positive open. The big event today is the FOMC decision, due out at 2 PM ET, followed by Ben Bernanke's last press conference as chairman of the Federal Reserve at 2:30. The consensus prediction is that the FOMC will refrain from tapering its quantitative easing program until 2014, but a growing number believe it could be announced today following a recent string of solid economic data. The FOMC could also announce a modification to its forward guidance on the likely path of short-term interest rates, such as a reduction of the unemployment rate threshold that must be met before the first rate hike to 6.0% from the current 6.5% figure. Japanese exports rose 18.4% from a year earlier in November, faster than expected, while imports rose 21.1% from a year earlier, slower than expected. The trade deficit widened to ¥1.2929 trillion from ¥1.0927 trillion. The German IFO Business Climate indicator of sentiment ticked up to 109.5 in December from 109.3 in November, as expected by economists. The current assessment gauge unexpectedly fell to 111.6 from 112.2, but the outlook gauge advanced to 107.4 from 106.4. The U.K. unemployment rate unexpectedly fell to 7.4% in October from 7.6% the month before, while the three-month employment change through October was 250,000, well above the 165,000 consensus forecast. The numbers have sparked a rally in sterling this morning. Eurozone construction output fell 1.2% in October after dropping 0.5% in September. On a work day-adjusted basis, construction output fell 2.4% from a year earlier after falling 0.7% year over year in September. November housing starts and building permits data are due out at 8:30 AM ET. Economists predict permits fell to 990,000 at an annualized rate in November from 1.034 million in October, while starts are expected to clock in at 950,000. Follow the data LIVE on Business Insider » Bitcoin lost another 30% of its value overnight after Chinese Bitcoin startup BTC China announced that it could no longer accept deposits in the local currency . The digital currency has been on a wild ride in 2013 — in January, it traded below $15, and recently, it traded over $1000. Now, it trades just below $500. BP said Wednesday it would write off just over $1 billion in costs related to an unsuccessful Brazilian oil well, which ended up finding no commercial quantities of oil or gas. However, it also said it made a significant oil discovery in the Gulf of Mexico, which it will continue to explore. Bloomberg News reports that the Fed will delay imposing regulatory requirements related to leverage ratios on large U.S. banks until the Basel Committee on Banking Supervision completes its global standards. " The Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency had favored finishing a U.S. rule by year’s end, said one of the people," writes Bloomberg's Jesse Hamilton. "The Fed’s wait-and-see position is aligned with groups representing the banking industry, who have argued for a delay on grounds that the regulations should be consistent." Story continues More From Business Insider 10 Things You Need To Know This Morning 10 Things You Need To Know This Morning 10 Things You Need To Know This Morning View comments

2013-12-18 16:06:00+00:00

{"Bitcoin": [49, 176, 942, 1754, 2165], "BTC": [193, 370, 1882, 2211, 2354]}

{"Bitcoin": [41]}

China Has A Good Reason To Crack Down On Bitcoin

https://finance.yahoo.com/news/china-good-reason-crackdown-bitcoin-160612464.html

Business Insider

http://www.businessinsider.com/

iphone china REUTERS/Kim Kyung-Hoon The price of Bitcoin has been getting clobbered over the last day as China continues to crack down on its use. The latest huge blow is that Bitcoin exchange BTC China announced that due to regulatory issues it could no longer accept deposits in Renminbi (the Chinese currency) which is a huge problem to say the least. Interestingly, BTC China had just raised $5 million in venture money back in November , so that is very bad timing. But this isn't the first time China has cracked down on bitcoins either. Earlier this month, the People's Bank of China told financial institutions not to accept bitcoins as legal tender. At the time it said, "the warning is aimed at protecting the property rights of the public, safeguarding the Renminbi status as a fiat currency, preventing money laundering, and maintaining financial stability in China," according to Xinhua. So why would China want to crack down on Bitcoin? Simple: capital controls. China tightly regulates all the money flowing in and out of the country. You can't just bring a bunch of cash into the country, in part to prevent people from buying up the local currency (which is generally believed to be deliberately suppressed). And China makes it hard to get money out of the country as well. There are various ways currently that rich people do get their money out of Chinese banks and out of the borders. One popular way is through Macau. Rich people buy a bunch of gaming chips through seedy "junket operators." Then they go to Macau and gamble a bunch. Then they take what they have left, and exchange their chips into the local Macau currency, at which point they can deposit that money in a Macau bank, and voilà the money is outside of the country. Bitcoin offered/offers an even quicker way to get your money out of the border. Buy 10,000 yuan work of bitcoins on a site like BTC China, transfer those bitcoins to a wallet outside of the country, and then sell those bitcoins in some new currency in a different country. Voilà, your money is liberated! Story continues Of course there's also the arbitrage play which China isn't too happy about. For a while, Bitcoin was more expensive in dollar terms on BTC China than it was when traded abroad. This made it easy for traders to buy bitcoins using the greenback elsewhere and then selling them on BTC China for a profit. And remember when China reported a surge in exports in November there was some speculation that fake invoicing was back. So as long as China is going to restrict the way money flows across the border, there's no way they're going to tolerate bitcoin use in a large scale, since it enables transactions that can't easily be tracked and stopped. The more interesting question is whether Chinese regulations can actually stop bitcoin usage. Obviously restrictions will make it more difficult to use, but there are going to be all kinds of workarounds, even if financial institutions are prevented from dealing with bitcoin exchanges. The extent to which an even grayer bitcoin market emerges in China will be a big story to watch. More From Business Insider Here Are China's Six Top Priorities For 2014 CHINA MANUFACTURING DATA SLIPS TO THREE-MONTH LOW Here's Why People Are Jittery About China Today

2013-12-18 17:53:01+00:00

{"Bitcoin": [1747, 1854, 1997]}

{"Bitcoin": [125]}

WPCS Announces Rescheduled Conference Call to Discuss FY2014 Second Quarter Financial Results; Recent Announcement Regarding Bitcoin

https://finance.yahoo.com/news/finance.yahoo.com/news/wpcs-announces-rescheduled-conference-call-175301411.html

Marketwired

http://www.marketwired.com/

EXTON, PA--(Marketwired - Dec 18, 2013) - WPCS International Incorporated ( NASDAQ : WPCS ), ("WPCS" or the "Company"), today has announced that it will conduct a conference call scheduled for Thursday, December 19, at 5:00 pm ET to discuss both its financial results for the FY2014 second quarter ended October 31, 2013 and its recent acquisition of BTX Trader. As previously announced, WPCS entered into various agreements to acquire BTX Trader LLC (BTX), an early stage technology company currently engaged in the development of a proprietary platform for the bitcoin industry, and issued 2,348 shares of its 12% Series E Preferred Stock, and warrants to purchase 1,500,000 shares of common stock exercisable at $5.00 per share in connection with the acquisition. Although no revenue is currently being generated, the BTX acquisition represents a new line of business to the Company. The Company also announced that it would be seeking stockholder approval for various matters, including an amendment to its certificate of incorporation to increase the number of shares authorized for issuance to stockholders. The Company is required to reserve for issuance under the 12% Series E Preferred Stock and Warrants related to the BTX acquisition approximately 2.7 million shares of common stock. The additional shares the Company seeks to have authorized for issuance are required to satisfy prior contractual obligations and for future purposes, such as potential acquisitions or financings. The foregoing description is intended as a clarification and does not constitute a solicitation of any vote or proxy, which shall only be by virtue of a Proxy Statement filed with the SEC and distributed to stockholders containing additional information. Bitcoin is a digital or virtual currency that uses peer-to-peer technology to facilitate instant payments. Bitcoin is a type of alternative currency known as a cryptocurrency, which uses cryptography for security, making it difficult to counterfeit. Bitcoin issuance and transactions are carried out collectively by the network, with no central authority, and allows users to make secure, verified transfers. BTX has developed and is currently beta testing a trading system to offer bitcoin traders advanced charting, trading blotters, and trading integration across five of the major bitcoin exchanges, which will allow users to see liquidity, route orders, identify arbitrage opportunities across all platforms, and to control trading risks with access to stop loss orders. The BTX business is intended to become a data and service provider for users and exchanges of bitcoin, but is not presently a bitcoin exchange itself (although the Company may determine to invest in and develop a bitcoin exchange in the future). There can be no assurance that the Company or bitcoin in general, will be successful. Story continues Sebastian Giordano, Interim Chief Executive Officer, commented, "We are very excited about bitcoin and the prospect offered by BTX to participate in a quickly evolving marketplace. Although there are numerous risks, we believe that the software platform being developed by BTX will support the opportunities to advance bitcoin as an asset class, currency, money transfer mechanism, and important alternative in the financial markets space. As one of the first publicly traded companies to make an early entrance into the bitcoin space, we believe this transaction is consistent with ongoing efforts to provide the Company with an opportunity to deliver improved shareholder value in the future." To participate on the conference call, please dial 800-875-3456 for calls within the U.S. and 302-607-2001 for calls from outside the U.S. Upon reaching the operator, use VH71326 as the verbal pass code. Sebastian Giordano, Interim CEO of WPCS, will be discussing the company's financial results, market conditions and business outlook, including BTX. In addition, a BTX spokesman will be available to respond to questions about BTX. When the overview concludes, you can be placed into the queue for questions by pressing *1 and can be removed from the queue by pressing the # sign. Replays of the conference call will be available for a period of five days by dialing 402-220-2946 and entering 71326 as the program identification number. About WPCS International Incorporated: WPCS is a design-build engineering company that focuses on the implementation requirements of communications infrastructure. The Company provides its engineering capabilities including wireless communication, specialty construction and electrical power to the public services, healthcare, energy and corporate enterprise markets worldwide. For more information, please visit www.wpcs.com . Statements about the company's future expectations, including future revenue and earnings and all other statements in this press release, other than historical facts, are "forward looking" statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time. The company's actual results could differ materially from expected results. In reflecting subsequent events or circumstances, the company undertakes no obligation to update forward-looking statements. The Company and its operations, including bitcoin activities, are subject to substantial risks. Some of those risks are described under "Risk Factors" in the Company's filings and reports filed with the SEC at www.sec.gov . The risks associated with BTX and bitcoin in general are not fully known and will be described in future filings with the SEC and therefore investors should be aware that the Company's SEC filings do not presently provide a complete description of all risks that face the Company's business and affairs.

2013-12-18 17:53:01+00:00

{"Bitcoin": [1747, 1854, 1997]}

{"Bitcoin": [125]}

WPCS Announces Rescheduled Conference Call to Discuss FY2014 Second Quarter Financial Results; Recent Announcement Regarding Bitcoin

https://finance.yahoo.com/news/wpcs-announces-rescheduled-conference-call-175301411.html

Marketwired

http://www.marketwired.com/

EXTON, PA--(Marketwired - Dec 18, 2013) - WPCS International Incorporated ( NASDAQ : WPCS ), ("WPCS" or the "Company"), today has announced that it will conduct a conference call scheduled for Thursday, December 19, at 5:00 pm ET to discuss both its financial results for the FY2014 second quarter ended October 31, 2013 and its recent acquisition of BTX Trader. As previously announced, WPCS entered into various agreements to acquire BTX Trader LLC (BTX), an early stage technology company currently engaged in the development of a proprietary platform for the bitcoin industry, and issued 2,348 shares of its 12% Series E Preferred Stock, and warrants to purchase 1,500,000 shares of common stock exercisable at $5.00 per share in connection with the acquisition. Although no revenue is currently being generated, the BTX acquisition represents a new line of business to the Company. The Company also announced that it would be seeking stockholder approval for various matters, including an amendment to its certificate of incorporation to increase the number of shares authorized for issuance to stockholders. The Company is required to reserve for issuance under the 12% Series E Preferred Stock and Warrants related to the BTX acquisition approximately 2.7 million shares of common stock. The additional shares the Company seeks to have authorized for issuance are required to satisfy prior contractual obligations and for future purposes, such as potential acquisitions or financings. The foregoing description is intended as a clarification and does not constitute a solicitation of any vote or proxy, which shall only be by virtue of a Proxy Statement filed with the SEC and distributed to stockholders containing additional information. Bitcoin is a digital or virtual currency that uses peer-to-peer technology to facilitate instant payments. Bitcoin is a type of alternative currency known as a cryptocurrency, which uses cryptography for security, making it difficult to counterfeit. Bitcoin issuance and transactions are carried out collectively by the network, with no central authority, and allows users to make secure, verified transfers. BTX has developed and is currently beta testing a trading system to offer bitcoin traders advanced charting, trading blotters, and trading integration across five of the major bitcoin exchanges, which will allow users to see liquidity, route orders, identify arbitrage opportunities across all platforms, and to control trading risks with access to stop loss orders. The BTX business is intended to become a data and service provider for users and exchanges of bitcoin, but is not presently a bitcoin exchange itself (although the Company may determine to invest in and develop a bitcoin exchange in the future). There can be no assurance that the Company or bitcoin in general, will be successful. Story continues Sebastian Giordano, Interim Chief Executive Officer, commented, "We are very excited about bitcoin and the prospect offered by BTX to participate in a quickly evolving marketplace. Although there are numerous risks, we believe that the software platform being developed by BTX will support the opportunities to advance bitcoin as an asset class, currency, money transfer mechanism, and important alternative in the financial markets space. As one of the first publicly traded companies to make an early entrance into the bitcoin space, we believe this transaction is consistent with ongoing efforts to provide the Company with an opportunity to deliver improved shareholder value in the future." To participate on the conference call, please dial 800-875-3456 for calls within the U.S. and 302-607-2001 for calls from outside the U.S. Upon reaching the operator, use VH71326 as the verbal pass code. Sebastian Giordano, Interim CEO of WPCS, will be discussing the company's financial results, market conditions and business outlook, including BTX. In addition, a BTX spokesman will be available to respond to questions about BTX. When the overview concludes, you can be placed into the queue for questions by pressing *1 and can be removed from the queue by pressing the # sign. Replays of the conference call will be available for a period of five days by dialing 402-220-2946 and entering 71326 as the program identification number. About WPCS International Incorporated: WPCS is a design-build engineering company that focuses on the implementation requirements of communications infrastructure. The Company provides its engineering capabilities including wireless communication, specialty construction and electrical power to the public services, healthcare, energy and corporate enterprise markets worldwide. For more information, please visit www.wpcs.com . Statements about the company's future expectations, including future revenue and earnings and all other statements in this press release, other than historical facts, are "forward looking" statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time. The company's actual results could differ materially from expected results. In reflecting subsequent events or circumstances, the company undertakes no obligation to update forward-looking statements. The Company and its operations, including bitcoin activities, are subject to substantial risks. Some of those risks are described under "Risk Factors" in the Company's filings and reports filed with the SEC at www.sec.gov . The risks associated with BTX and bitcoin in general are not fully known and will be described in future filings with the SEC and therefore investors should be aware that the Company's SEC filings do not presently provide a complete description of all risks that face the Company's business and affairs.

2013-12-18 18:00:00+00:00

{"Bitcoin": [64, 306, 371, 780, 906, 1040, 1175, 1491, 1684, 2030, 2367, 2448, 2644, 2779, 2866, 2931, 2982], "BTC": [340, 519, 1769]}

{"Bitcoin": [0]}

Bitcoin Price Plummets After Chinese Exchange Bans Yuan Deposits

https://finance.yahoo.com/news/bitcoin-price-plummets-chinese-exchange-180000307.html

Entrepreneur

http://www.entrepreneur.com/

First there's the high, then there's the comedown. The price of Bitcoin , which last month topped $1,200 on major exchanges, is now trading below $600, and China is to blame. Two weeks ago, China's central bank and various ministries issued a joint statement forbidding financial companies from processing Bitcoin-related transactions. Now BTC China, the world's largest Bitcoin trading platform by volume, has responded by ending its users' ability to fund their trading accounts with yuan, China's national currency. BTC China broke the bad news in a message on Weibo, a Twitter-esque Chinese messaging service, according to The New York Times . It told users that while yuan deposits were being discontinued "for reasons we all know," the exchange would continue operating and Bitcoin deposits and yuan withdrawals would still be possible. Over the past few months, China has become the world's largest Bitcoin market, a fact which China's government at first seemed to encourage. But it cracked down earlier this month, announcing that Bitcoin is not a legal currency and prohibiting financial firms and payment companies from buying or selling it, storing it or issuing Bitcoin-related financial products. In the statement posted to its website on Dec. 5, the People's Bank of China said that "excessive speculation" in digital currencies could "harm the public interest." China is well known for strictly regulating the yuan, and government agencies appear to have taken the view that Bitcoin trading is speculation in the yuan by another means. However, people in China are still allowed to buy, sell and hold bitcoins as a commodity. The restrictions have caused the value of Bitcoin worldwide to nosedive. At 12:21 p.m. Eastern time, the price of a bitcoin on BTC China was 3,135 yuan, or $516. On San Francisco-based Coinbase, which allows deposits and withdrawals in U.S. dollars from users' bank accounts, the price was somewhat higher at $575. Some people on the sidelines will no doubt be gleeful at the prospect of Bitcoin's downfall, an event long predicted in some quarters. But Schadenfreude Sallies would do well to remember that there is a difference between a short-term bubble in a market and a market that is itself a bubble. Last Thursday, Coinbase announced that it had raised $25 million in a Series B round, the largest fundraise ever by a Bitcoin company. Story continues "We think Coinbase can significantly accelerate Bitcoin's proliferation, and as that happens the Internet will enter a new phase of invention and opportunity," Chris Dixon of Andreessen Horowitz, which led the funding round, said at the time. "Bitcoin is the first plausible proposal for an economic protocol for the Internet." Still, when it comes to the fiat-currency value of Bitcoin, a lot of digital wallets are significantly lighter today. Related: Actually...Bitcoin's Recognition Is Pretty Darn High More From Entrepreneur Bitcoin: The Good, the Bad and the Ugly Actually...Bitcoin's Recognition is Pretty Darn High Apple Becomes China's Third Highest Smartphone Distributor

2013-12-18 18:00:00+00:00

{"Bitcoin": [64, 306, 371, 780, 906, 1040, 1175, 1491, 1684, 2030, 2367, 2448, 2644, 2779, 2866, 2931, 2982], "BTC": [340, 519, 1769]}

{"Bitcoin": [0]}

Bitcoin Price Plummets After Chinese Exchange Bans Yuan Deposits

https://finance.yahoo.com/news/finance.yahoo.com/news/bitcoin-price-plummets-chinese-exchange-180000307.html

Entrepreneur

http://www.entrepreneur.com/

First there's the high, then there's the comedown. The price of Bitcoin , which last month topped $1,200 on major exchanges, is now trading below $600, and China is to blame. Two weeks ago, China's central bank and various ministries issued a joint statement forbidding financial companies from processing Bitcoin-related transactions. Now BTC China, the world's largest Bitcoin trading platform by volume, has responded by ending its users' ability to fund their trading accounts with yuan, China's national currency. BTC China broke the bad news in a message on Weibo, a Twitter-esque Chinese messaging service, according to The New York Times . It told users that while yuan deposits were being discontinued "for reasons we all know," the exchange would continue operating and Bitcoin deposits and yuan withdrawals would still be possible. Over the past few months, China has become the world's largest Bitcoin market, a fact which China's government at first seemed to encourage. But it cracked down earlier this month, announcing that Bitcoin is not a legal currency and prohibiting financial firms and payment companies from buying or selling it, storing it or issuing Bitcoin-related financial products. In the statement posted to its website on Dec. 5, the People's Bank of China said that "excessive speculation" in digital currencies could "harm the public interest." China is well known for strictly regulating the yuan, and government agencies appear to have taken the view that Bitcoin trading is speculation in the yuan by another means. However, people in China are still allowed to buy, sell and hold bitcoins as a commodity. The restrictions have caused the value of Bitcoin worldwide to nosedive. At 12:21 p.m. Eastern time, the price of a bitcoin on BTC China was 3,135 yuan, or $516. On San Francisco-based Coinbase, which allows deposits and withdrawals in U.S. dollars from users' bank accounts, the price was somewhat higher at $575. Some people on the sidelines will no doubt be gleeful at the prospect of Bitcoin's downfall, an event long predicted in some quarters. But Schadenfreude Sallies would do well to remember that there is a difference between a short-term bubble in a market and a market that is itself a bubble. Last Thursday, Coinbase announced that it had raised $25 million in a Series B round, the largest fundraise ever by a Bitcoin company. Story continues "We think Coinbase can significantly accelerate Bitcoin's proliferation, and as that happens the Internet will enter a new phase of invention and opportunity," Chris Dixon of Andreessen Horowitz, which led the funding round, said at the time. "Bitcoin is the first plausible proposal for an economic protocol for the Internet." Still, when it comes to the fiat-currency value of Bitcoin, a lot of digital wallets are significantly lighter today. Related: Actually...Bitcoin's Recognition Is Pretty Darn High More From Entrepreneur Bitcoin: The Good, the Bad and the Ugly Actually...Bitcoin's Recognition is Pretty Darn High Apple Becomes China's Third Highest Smartphone Distributor

2013-12-18 18:29:00+00:00

{"Bitcoin": [1855, 1920]}

{}

The Risk Of A Market-Moving Incident Out Of North Korea Has Increased

https://finance.yahoo.com/news/risk-market-moving-incident-north-182900206.html

Business Insider

http://www.businessinsider.com/

kim jong un Reuters/KCNA KCNA The execution of Kim Jong-un's uncle-in-law , Jang Song Thaek, has been seen as a "confirmation of an ongoing power struggle in Pyongyang," according to Alastair Newton, Nomura's senior political analyst. While jitters out of North Korea are quite common, Newton believes that the risk of a market-moving incident has increased. The publicity around the execution is, internally, expected to drive home the idea that Kim Jong-un is in control. But there have been reports that indoctrination sessions have increased and people have been required to write letters of support and loyalty to Kim. Newton thinks that ever since private markets were reinstated, there's more information about the world trickling into North Korea and there are concerns about a grass roots uprising. This along with Jang's execution, which has certainly unsettled even the privileged, explains why Kim wants more loyalty. Based on all of this, it does seem like Kim is more in control today. "But I still think regime instability is a significant concern, which is likely to prove persistent," writes Newton. The regime also faces external pressures from the U.S. and China to wind down its nuclear weapons programs. And South Korean president Park Geun-hye has said the current situation is "grave and unpredictable," and is calling for more border vigilance. Tensions are expected to increase ahead of the upcoming joint South Korea/U.S. military exercises and the birth anniversary of Kim il-Sung when North Korea likes to demonstrate its military prowess. "[T]he already non-negligible risk of a potentially market-moving incident (or incidents) into the New Year has probably increased," wrote Newton. In the long term he thinks the Korean peninsula "looks likely to become an increasingly dangerous place." More From Business Insider CRASH: Bitcoin Collapses After Major Blow From China FINANCE PROFESSOR: Bitcoin Will Crash To $10 By Mid-2014 Math Says You Should Buy A Mega Millions Ticket Right Now

2013-12-18 18:39:00+00:00

{"Bitcoin": [4519]}

{}

Here's What You Need To Know About The New Blood Pressure Medication Guidelines

https://finance.yahoo.com/news/finance.yahoo.com/news/heres-know-blood-pressure-medication-183919939.html

Business Insider

http://www.businessinsider.com/

stethoscope doctor healthcare Adam Berry/Getty Images If you have high blood pressure, your treatment may soon change. New medication guidelines published Dec. 18 in the Journal of the American Medical Association (JAMA) suggest that not everyone with high blood pressure needs to be on drugs for it. Here's the bottom line: If you are 60 or older and the first number of your blood pressure is less than 150, you don't necessarily need to be on medication for it. Keep in mind that this choice is up to your doctor — blood pressure is just one risk factor for heart disease, and people using medication to maintain a number in the 140s without serious side effects should not suddenly stop and let that number drift up. The new guideline will decrease the number of people medicated for their high blood pressure, but not everyone's happy about it. Blood pressure and heart disease People with naturally low blood pressure (BP) have a lower risk of cardiovascular problems and live longer. High blood pressure, when left uncontrolled, can lead to heart attack, stroke, and aneurysm. Smoking, obesity, and inactivity are all risk factors for high blood pressure, which also has a genetic component that's passed down in families. Lifestyle changes like exercise and healthy eating are our first line of defense against heart disease and are especially encouraged if BP creeps above the "normal" level of 120/80. But not everyone gets their blood pressure low enough with just lifestyle changes, and if that first number climbs above 140 — a condition affecting about two-thirds of people 60 and older — you officially have high blood pressure, or hypertension. Until now, that's when doctors suggest medication to help lower BP. About 50 million Americans are on blood pressure drugs of all different kinds, including diuretics ("water pills"), beta blockers (which slow your heartbeat), and ACE inhibitors (which help stop blood vessels from narrowing). Why change the guidelines? "Over the last ten years, doctors have had the notion that the lower blood pressure is, the better," study researcher Paul A. James, of the University of Iowa, told Business Insider. Story continues The problem? While there's no question that medication is crucial for people at high risk of heart attack and stroke, the researchers concluded that there's not enough evidence that driving that number all the way to 140 — rather than simply to 150 — provides much additional benefit. The panel arrived at the new guidelines after reviewing previous studies that looked at how patients fared on a variety of approaches to lowering BP — different drugs and exercise regimens, for example. Blood pressure drugs, like any medications, have some side effects (such as dizziness), which can be especially serious in older adults. So, the new guidelines may come as a relief for some. Still, says James, "I'm absolutely sure there will be controversy." Not everyone's happy James is right. Some people are wary that the new guidelines aren't officially endorsed by the National Heart, Lung, and Blood Institute (NHLBI). The NHLBI initially assembled the panel but has since stopped being involved in making guidelines, so in the end they weren't certified by any official organization. Eric D. Peterson of the Duke Clinical Research Institute told Business Insider that this lack of official endorsement may leave some practicing doctors scratching their heads about how to proceed. Most experts point out that more research needs to be done. "We have very limited data to tell us what the right thresholds are," said Peterson. While he agrees that no study says 140 is the magic BP number for beginning treatment in older adults, he notes that one major study showed a notable benefit when older patients brought their number from the mid-150s to the mid-140s — so 150 isn't necessarily right either. Though Peterson agrees that too-aggressive treatment to lower a patient's blood pressure down to a specific number can harm overall health, he compared the target numbers to speed limits: If you tell people the maximum speed is 65, they may drive at 75. Similarly, leaving the target at 140 may mean more Americans actually bring their number below 150. "There is always some slippage between targets set for clinicians and [those] actually achieved in routine practice," he writes in an editorial in the same issue of JAMA . More From Business Insider Another Person Has Died Of Bird Flu — But This Time It's A New Strain FINANCE PROFESSOR: Bitcoin Will Crash To $10 By Mid-2014 7 Charts On How American Health Has Changed Since The 90s

2013-12-18 19:41:43+00:00

{"Bitcoin": [3093, 3138]}

{}

These 10 Billionaires Made The Most Money In 2013

https://finance.yahoo.com/news/10-billionaires-made-most-money-194143592.html

Business Insider

http://www.businessinsider.com/

warren buffett REUTERS/Rebecca Cook Warren Buffett made about $37 million a day in 2013. Many familiar faces make an appearance on Wealth-X's list of the billionaires who made the most money this year. Businessmen like Warren Buffett and Bill Gates, who have dominated wealth rankings for years, continued to add billions of dollars to their already sizable fortunes. Here's the full list, ranked by billions made from January 1 to December 11, 2013: 10. Carl Icahn made $7.2 billion The corporate raider had a big year after bets on Netflix and Herbalife yielded Icahn Capital Management $800 million and $500 million profits, respectively. He tweeted his thanks to Netflix CEO Reed Hastings and Kevin Spacey, star of the streaming service's hit show, "House of Cards." 9. Lui Chee Woo made $8.3 billion The founder of Galaxy Entertainment Group became Asia's second-richest man in 2013 as gambling revenue grew at a record pace in Macau. Lui is looking to expand his flagship casino in the city's Cotai area, which is known by many as the Asian version of the Las Vegas Strip. 8. Larry Page made $9.3 billion Google's co-founder and CEO made $3 billion in 24 hours when Google stocks hit an all-time high in October, breaking $1,000 for the first time. Android became the world's most popular operating system , running on 43% of the globe's smartphones. 7. Sergey Brin made $9.3 billion Brin, Google co-founder and head of special projects with Google X, made $2.9 billion in the October stock surge . As of December 11, Brin is worth an estimated $30 billion, a 4.8% percent increase over the year. 6. Masayoshi Son made $10.3 billion The founder of Softbank, Asia's top Internet and telecommunications corporation, lost $70 billion in the dotcom crash, but he's surging back in a big way. The purchase of Sprint and a large investment in Finnish game-maker Supercell are highlights in a year that saw Son's personal net worth more than double, growing from $8.8 billion to $19.1 billion. Story continues 5. Mark Zuckerberg made $10.5 billion Facebook stock hit an all-time high in October, and revenue continues to grow despite questions about the longevity of the product. 4. Jeff Bezos made $11.3 billion The founder and CEO of Amazon, which made $17.1 billion in net sales in the third quarter, raised some eyebrows when he bought the Washington Post for $250 million this summer. 3. Sheldon Adelson made $11.4 billion According to Wealth-X , the casino mogul's personal net worth grew to an estimated $35.3 billion this year thanks to profits from his gambling properties in Las Vegas, Macau, and Singapore. 2. Bill Gates made $11.5 billion The world's wealthiest man ended the year with a personal net worth of $72.6 billion, up nearly 19% from $61.1 billion in 2012. 1. Warren Buffett made $12.7 billion Berkshire Hathaway's CEO personally made about $37 million a day in 2013, a year that saw the company's acquisition of Heinz and Nevada's NV Energy. More From Business Insider This British Academy Trains Butlers For Wealthy Families Around The World [PHOTOS] FINANCE PROFESSOR: Bitcoin Will Crash To $10 By Mid-2014 CRASH: Bitcoin Collapses After Major Blow From China

2013-12-18 20:47:00+00:00

{"Bitcoin": [629]}

{}

STOCKS EXPLODE AFTER FED ANNOUNCEMENT

https://finance.yahoo.com/news/gold-rallying-ahead-fed-announcement-185620584.html

Business Insider

http://www.businessinsider.com/

china rocket space REUTERS/China Daily The Fed announced a taper and stocks are spiking. The Dow is up 275 points and the S&P 500 is up 28 points. Gold is basically unchanged and bonds are now higher, with the yield on the 10-year at 2.89% (up 5 basis points from yesterday's close). The Fed will taper its asset purchasing program to a monthly rate of $75 billion from the current $85 billion pace, the FOMC just announced. Click here for our full breakdown of the Fed's surprise decision » More From Business Insider FED UNEXPECTEDLY TAPERS Morgan Stanley Has The Most Creative Fed Prediction We've Seen Yet FINANCE PROFESSOR: Bitcoin Will Crash To $10 By Mid-2014

2013-12-18 21:11:44+00:00

{"Bitcoin": [3014, 3079]}

{}

Cornell's New MBA Could Shake Up How Leaders Emerge In Tech

https://finance.yahoo.com/news/finance.yahoo.com/news/cornells-mba-could-shake-leaders-204010769.html

Business Insider

http://www.businessinsider.com/

cornell johnson edited joebeone/Flickr Cornell's Johnson School of Management Cornell University's Johnson School of Management is seriously rethinking the MBA. Starting this May, the school will launch a one-year MBA program at its New York tech campus that aims to bridge the gap between tech skills and management ability. If the program proves effective, it could reshape the way leaders emerge in the tech industry. "The goal is to produce leaders for the digital economy," says Doug Stayman, the associate dean of MBA programs at Johnson. "Organizations desperately need people who are true leaders but also understand the business needs and the technical needs." To accomplish that goal, the program hopes to break d own a longstanding barrier between the tech community and business school grads. Experts say that startups are often reluctant to hire the average MBA, whose skills they see as unsuited for the culture and work of their companies. The MBA was developed in the mid-20th century and designed to prepare students for work in a specific type of company, explains Stayman. It was a lynchpin for places like Procter & Gamble and McKinsey — big companies known for their thorough approaches to analyzing data, solving problems, and implementing solutions. But business grads trained in those skills aren't usually the candidates tech startups are l ooking for. "These things are not just content, they're cultural," Stayman says of the divide. More often than not, he explains, startups see the MBA style of thinking as clashing with their approach and culture. To address that, Cornell consulted startups and tech companies when drawing up plans for its new degree, the Wall Street Journal reported . The program will mix classroom learning with a heavy dose of hands-on, entrepreneurial skills and experience. Students will learn skills valued by today's startups, such as consumer insights, planning, and product development. So far, the program has more than 70 applican ts for a target class of 35 to 40 people. The degree's hefty price tag, while not finalized, is expected to run in the low $90,000 range. By comparison, two-year tuition tends to cost between $100,000 and $120,000 for most top-10 business school programs. Stayman says the program will offer some merit-based financial aid, and he also expects a number of students will be sponsored by companies and employers. Story continues Despite its tech-business focus, graduates aren't exclusively meant to work for startups. Stayman sees it as an open-ended certification. On the one hand, it could help the business-minded cross into tech, but on the other, it could give students an inroad to traditional management jobs. "We want them to go to places who hire MBAs — to Deloitte, to Amazon, and to other recruiters who hire MBAs — but also to people who don't traditionally hire MBAs," Stayman said. More From Business Insider New Obama Adviser Compares Republicans To A 'Cult Worthy Of Jonestown' — And Then Apologizes CRASH: Bitcoin Collapses After Major Blow From China FINANCE PROFESSOR: Bitcoin Will Crash To $10 By Mid-2014

2013-12-18 21:28:00+00:00

{"Bitcoin": [2546]}

{}

The Government Is Quietly Giving Way More Housing Aid To Rich People Than Poor People

https://finance.yahoo.com/news/government-quietly-giving-way-more-212800893.html

Business Insider

http://www.businessinsider.com/

CBPP rental housing Center on Budget and Policy Priorities The Center for Budget Policy Priorities released a number of charts today that shows how much the federal government favors high-income households over low-income ones in housing benefits. This largely results from the fact that homeowners receive significantly more aid than renters and high-income Americans are much more likely to be homeowners. In 2012, the federal government gave out $240 billion in housing aid. Income data is not available for all of it, but of what is available, more than half went to those with incomes greater than $100,000 ($81.6 billion). Only $40 billion went to those with incomes less than $50,000. Overall, high income households receive four times as much in housing aid as low-income ones. The main reason for this is the majority of federal housing aid flows to homeowners, not renters. The mortgage interest deduction is the most well-known program that subsidizes homeownership. That deduction alone is larger than all federal rental aid combined. The federal government gave out about $60 billion in housing benefits to renters in 2012. It gave out more than three times that much to homeowners. Low-income households receive the vast majority of that rental aid, but the opposite is true of aid to homeowners. That flows primarily to high-income households. This comes at a time when renters are struggling to keep pace with rising housing costs . Fifty percent of renters now spend more than 30% of their income on housing. This has forced renters to cut back on other household necessities or live in inadequate units. CBPP rental housing2 Center on Budget and Policy Priorities Renters are more likely to face a severe cost burden (defined as spending at least 50% of income on housing) than homeowners are. This is a result of rising median gross rent and falling media income over the past 15 years. For both renters and homeowners, the percentage of households that have a severe affordability problem with their housing has increased since 2001. Story continues These problems are only going to get worse as millions of seniors find themselves in need of rental housing in the coming decades. Yet, while this silent crisis continues, the majority of the money that the federal government spends on housing flows to homeowners, not renters. More From Business Insider New Obama Adviser Compares Republicans To A 'Cult Worthy Of Jonestown' — And Then Apologizes Watch The Moment Mitt Romney Realizes He Is Going To Lose The Election CRASH: Bitcoin Collapses After Major Blow From China

2013-12-19 15:51:00+00:00

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DOGECOIN: How A Thing That Started As A Joke Became The Hottest Digital Currency In The World

https://finance.yahoo.com/news/presenting-incredible-story-dogecoin-most-155100538.html

Business Insider

http://www.businessinsider.com/

This is the most 2013 thing of the year. An Australian brand and marketing specialist and a programmer in Portland, Ore. who have never actually met have successfully combined the year's two greatest phenomena: Bitcoin, and doge. The result: Dogecoin. And people are actually using it. If you're not familiar with the doge meme, it's hard to explain — you sort of have to just see it yourself. Basically, someone on the Internet began posting images of Comic Sans thought bubbles in the imagined syntax of a devastatingly cute Shiba Inu dog. Variations on the meme look like this: doge DailyEdge.ie There's no point to it; it's just one of those Internet things. But people love it — you can see some "good ones" here . About three weeks ago, Jackson Palmer, who by day works in Adobe's Sydney marketing department, and who'd been following developments in the cryptocurrency world , absentmindedly tweeted , "Investing in Dogecoin, pretty sure it's the next big thing." He got some replies encouraging him to pursue the idea, and a week later bought the domain Dogecoin.com. Inevitably, it got picked up on reddit, a hotbed of doge activity . Meanwhile in Portland, Billy Markus had been trying to program his own digital currency that would appeal to a broader demographic than the profiteers who've flooded into Bitcoin. But the project had gone nowhere. Then he stumbled across Dogecoin.com within a day or two of the site going live. "The first thing I said was, 'This is so funny.' Then I said, 'I should just make this coin.'" He Tweeted at Palmer saying he wanted to go in on it, and before Palmer even responded, started reconfiguring Bitcoin's sourcecode, which is publicly available, to turn its user-facing elements into the doge meme. Eventually Palmer wrote back, and the partnership was formed. A little more than a week after Palmer's jokey tweet, Dogecoin was launched. Again it got picked up on reddit, and instantly exploded. It is already the 13th seventh-largest cryptocurrency, according to Coinmarketcap , with a market value (i.e. number of extant Dogecoins X price of $0.00086) of $8 million. It now enjoys its own full blown ecosystem: in addition to the website, it has a dedicated blog and forum , and of course a subreddit . Story continues How has it done this? Largely through something called "tipping." If you're a geek who "performs" a "good deed" on the Internet, it's become common practice for people to "tip" you in your digital currency of choice. For instance: that kid who held up up his Bitcoin wallet's QR-code during ESPN's College Gameday got tipped thousands of dollars by the Bitcoin community for such a brilliant stroke of guerrilla marketing. But it's become somewhat expensive to tip in Bitcoin, so people have turned to Dogecoin. Only about a week after launching, Dogecoin became the second-most-tipped currency, the pair say. T hey're hoping Facebook will accept a widget they've been working on that would allow friends to "tip" each other with dogecoin. Still, what's so great about Dogecoin? Technically speaking, it's more of a variation on Litecoin, which runs on a cryptographic program called Scrypt. Like Litecoin, the time it takes to process a Dogecoin transaction is much shorter than for Bitcoin. There are also many more Dogecoins that will come into existence — 100 billion versus 21 million. But it's the culture that's sprung up around it that's really driving it forward. Palmer says it comes down to having a lower barrier of entry for people who might be interested in cryptocurrencies but are turned off by either the price of or so-far dubious culture that surrounds Bitcoin. "It's not taking itself as seriously, it's not being used by people worrying about whether they'll become rich," Palmer said. "It's something to share for thanks or kudos." Markus says his wife, who at first was turned off by his interest in Bitcoin, has started mining Dogecoin herself — something you can do with your basic computer, unlike mining Bitcoin, which now requires industrial-strength processors. The pair say they have no intention of competing with Bitcoin, and both are still fervent believers in its potential to change online banking. "I t's a revolutionary technology, absolutely revolutionary," Markus says. "And it works as a store of value because it's deflationary, there will be a cap [on Bitcoins created]. It's just highly speculative, which makes it hard to use, to spend and spread it." How can you tell the Dogecoin phenomenon is not a joke? This morning, Bitcoin and most other altcoins are up about 20% . Dogecoin? Up 250% and counting. Wow. More From Business Insider Bitcoin's Outlook In China Is Not Looking So Good Right Now Bitcoin Is Crumbling In China On Unconfirmed Reports Of A New Central Bank Ban That Swedish Bitcoin Mining Company Has Sold $28 Million-Worth Of Its New Mining Hardware

2013-12-19 16:00:00+00:00

{}

{"Bitcoin": [51]}

Uniquify and HashFast Announce Working Silicon for Bitcoin Mining Chip at TSMC 28HPM Process Node

https://finance.yahoo.com/news/uniquify-hashfast-announce-working-silicon-160000124.html

Marketwired

http://www.marketwired.com/

SAN JOSE, CA--(Marketwired - Dec 19, 2013) - Uniquify ( www.uniquify.com ) and HashFast Technologies ( www.HashFast.com ) today confirmed that first silicon of HashFast's Golden Nonce bitcoin mining application specific integrated circuit (ASIC) is working and exceeding expectations after completing TSMC fabrication at the leading-edge 28HPM process node. "The level of performance we are seeing from Golden Nonce is groundbreaking," says Eduardo deCastro, founder and Chief Executive Officer of HashFast. "This milestone is verification of the central decisions in this project, including our own technical and architecture choices, as well as the decision to select Uniquify as our key partner for silicon design and manufacturing. TMSC's industry-leading 28nm HPM process is the best silicon available for the design. We are thrilled to see our design working in silicon and exceeding our performance expectations." Each Golden Nonce chip contains more than a billion transistors, and is composed of four individual dies, each with an area of 81-square millimeters. It operates at a nominal clock speed of 740 megahertz (MHz), and has demonstrated an unprecedented performance of more than 500 Ghash/s per chip. It produces 0.768 Ghash/s per Mhz of clock speed and is silicon-efficient, producing 1.75 Ghash per square millimeter of silicon. The silicon implementation from HashFast's efficient architecture for high-performance hashing was completed in less than three months, record time for chip design. It required close cooperation between HashFast's design team and Uniquify's design and management experts who implemented the design and managed the chip manufacturing process. "Time to market is critical in the fast emerging bitcoin mining market," remarks Josh Lee, founder and CEO of Uniquify, who notes that the design highlights the quality of Uniquify's work. "First silicon worked as expected, proving Uniquify and HashFast can deliver leading-edge silicon in a short timeframe, and a testament to Uniquify's expertise and ability to quickly turn a design without sacrificing quality." Story continues About HashFast HashFast Technologies is a fabless semiconductor manufacturer specializing in the production of high-performance ASICs at aggressive performance nodes for the network verification of digital currency transactions. Its mission is to push the performance of network transaction verification hardware, and make leading-edge ASICs available to the public. The company was founded in 2013 by Simon Barber and Eduardo deCastro, and is privately held. More information can be found at: www.HashFast.com . About Uniquify Uniquify is a rapidly growing system-on-chip (SoC) design, integration and manufacturing services supplier, and innovative developer of high-performance semiconductor intellectual property (IP) offering the world's fastest DDR memory IP. Its "ideas2silicon" services range from specification development and front-end design through physical design and delivery of packaged, tested chips. It offers 65-, 40- and 28-nanometer SoC design expertise, integration and manufacturing services to leading semiconductor and system companies worldwide. Uniquify's adaptive DDR subsystem IP offers the highest DDR performance and the best system reliability a result of its patented self-calibrating technology. Uniquify's headquarters and primary design center is in San Jose, Calif., with additional design and technical sales and support teams in China, India, Japan, Korea and Vietnam. For more information, visit: www.uniquify.com . ideas2silicon is a trademark of Uniquify. Uniquify acknowledges trademarks or registered trademarks of other organizations for their respective products and services.

2013-12-19 19:15:00+00:00

{"Bitcoin": [76, 475, 776, 910, 1016, 1217, 1329, 1389, 1481]}

{"Bitcoin": [32]}

Overstock.com Will Start Taking Bitcoin Next Year

https://finance.yahoo.com/news/overstock-com-start-taking-bitcoin-191550579.html

Business Insider

http://www.businessinsider.com/

overstock Overstock Online retail outlet Overstock.com will start accepting Bitcoins as early as the end of Q2 2014, according to CEO Patrick Byrne. They will be the first major online retailer to do so. The news was first reported on newsBTC . Byrne told us by phone this afternoon that he considers himself a believer in the Austrian economics school, which says fiat currency, like the U.S. dollar, is fundamentally flawed since it is prone to inflation and manipulation. Bitcoin, like gold, is immune to this, since there is a fixed supply. " Philosophically, we support Bitcion," he said. The decision was made just a few weeks ago, Byrne said, during a review of the company's information technology priorities for 2014. For now, the store doesn't plan to actually hold Bitcoin once transactions begin. Byrne said they are considering three Bitcon payment processors that would allow the firm to convert Bitcoins to cash and assume the risk of the cryptocurrency's volatility. But he said that could change if Bitcoin derivatives come along that would allow one to hedge against the price going up or down. The CFTC said earlier this year that they are monitoring the development of such financial instruments. Bitcoin prices are up 18% today to about $670. Overstock.com shares are up about 3%. More From Business Insider Bitcoin's Outlook In China Is Not Looking So Good Right Now Bitcoin Is Crumbling In China On Unconfirmed Reports Of A New Central Bank Ban That Swedish Bitcoin Mining Company Has Sold $28 Million-Worth Of Its New Mining Hardware

2013-12-20 16:35:51+00:00

{"Bitcoin": [2661]}

{}

All Of The Amazeballs Tech Words You'll Need To Communicate With Your Kids This Year

https://finance.yahoo.com/news/all-of-the-amazeballs-tech-words-youll-need-to-70501203511.html

Yahoo Tech

https://www.yahoo.com/tech/

Admit it: You don’t want to feel old. You want to be the “cool” parent who knows his apps from his elbow. You want to be able to talk to your kids during holiday gatherings without watching them collapse into laughter every time you mention “The Twitter.” But, really, who can keep up with all the new terminology? No one really knows why there is such an abrupt change from being a baby’s Mighty and All-Knowing Center of the Universe to the person who can’t update their operating system without the aid of a nearby 13 year old. But once your kid is old enough to access the App Store, all that is left for you is an unrelenting march toward irrelevancy and gumming applesauce at the end of the dining room table while people shout in your “good” ear. Not to worry: I’m here for you. Today, I’m going to hit you up with a glossary of some newish terms that you might hear bandied about by the young people in your midst, so that you, too, can humblebrag about your amazeballs online adventures. So, let’s take a look at a few of the words you might hear or see your tweens and teens using, in between grunts for food: Amazeballs: adjective . Like, totally amazing. Incredible. Describes anything that is amazing, using the word amazing, plus the word balls for some reason. A truly amazeballs neologism. Ask.fm : noun . Newsflash: Your kids no longer post on Facebook, because you’re there, embarrassing the hell out of them. Ask.fm is the new hotness, and is an excellent place to live out “Lord of the Flies” without the prying eyes of adults. Your frenemies and maladjusted total strangers can anonymously ask you anything they want about yourself on this website and, as a teenager who just wants approval from his peers, you feel compelled to answer. Common questions include “Why are u so disgustingly fat/thin/short/tall/ugly???1!”, “Why don’t u just die?” and “Show me ur [redacteds]! I bet your [redacteds] are [redacted]!!1!” Yes, it makes my skin crawl, too. Story continues Autocorrect : noun. verb. Your fifth grade teacher on your phone and computer. Corrects your spelling and grammar based on prior words used and a pre-installed dictionary. Can be programmed on the iPhone to play pranks ; my phone likes to correct the word “sweetie” to “poop” when I text my kids. I suspect my 14 year old son set that one up. Binge-Watch : verb . Holing up to watch an entire television series all in one sitting. There are tiers: advanced binge-watching involves not stopping to change your clothes for days at a time and only seeking sustenance from the junk food packed minifridge you installed next to the couch that now boasts a permanent butt divot. Bitcoin : noun . An online currency that is hard to find and harder to spend in that very few retailers accept it. Also, the value changes constantly, so no one knows how much anything should cost. If they accepted it. Crowdsourcing: verb . If Shakespeare were alive today, he would write his plays this way. It involves soliciting ideas or contributions of content online from a wide range of people, like an online community. See also Crowdfunding , which is the same idea, except begging for money. Usually done on websites like Kickstarter and Indiegogo to help pay for a more professional recording of your album of Chukotkan whaling songs. Doge : noun . Pronounced incorrectly no matter how you say it, according to my kids, it’s doh-zj. A meme (see below) where people superimpose a Shiba Inu with a “Whatchoo talkin’ about, Willis?” look on his face onto an incongruous background. Humorous inner monologues using multicolored comic sans font are added for extra amusement. Hate-Watch , verb, noun: To watch a show or movie precisely because you actively do not enjoy it. Perhaps the reason why people are still watching “How I Met Your Mother.” We all know that Ted has to find the titular woman before the series finale, but seriously, what the hell? How many episodes are we supposed to watch before we finally get some closure?  Can you feel the visceral resentment? That’s hate-watching. See also “Newsroom, The.” Listicle : noun . Not a frozen list on a stick. An article that passes for real journalism these days and is generally an essay, news article or countdown repurposed into list form with accompany photos or moving image GIFs. Ex., “Ten Reasons Why Walter Cronkite is Spinning in His Grave”. Also, see Charticle , an “article” that consists solely of pictures and is the main reason Johnny doesn’t read anymore. Meme: noun . Pronounced “meem.” Lord help those who are walking around pronouncing it “meh-meh,” not that I would know. According to Merriam-Webster dictionary, a meme is “any idea, behavior, style, or usage that spreads from person to person within a culture.” That used to mean the kind of philosophical discussions that led to the writing of things like the Declaration of Independence. Today, it means being photographed crouching drunkenly next to a couch and calling it “owling.” Phablet : noun . A giant phone, basically. Sporting a phablet says to others, “I really wanted an iPad, but instead I’ve decided to take all my phone calls by holding this large brick up to my head with two hands.” Photobomb : verb . You have done this at least once by accident, but now it’s a thing . Even squirrels do it . The next time you pass by a group of people huddling together to take a family photo, stick your head into the frame just as the shot is being taken and you will have given that family the gift of being able to play “Who the Hell is That ?” for years to come. Selfie : noun. Holding a camera backwards and photographing one’s self, much like the way kids accidentally wear their baseball caps backwards. SMH : verbish . Stands for “Shaking My Head.” What you do when someone nearby is twerking. Snapchat : noun? verb? Remember when photos were supposed to be long-lasting mementos, suitable for framing or using as blackmail? Now there’s an app where the photographic evidence self-destructs on the recipient’s phone seconds after he or she opens it. I’m pretty sure the kids haven’t figured out any nefarious uses for that. TL;DR : an entire sentence, believe it or not . Stands for “Too Long; Didn’t Read.” Usually a dismissive response to being sent a really long document and might be accompanied by a short summary. Try not to reply to your boss’s email with this one. Touch ID : noun . A way for Apple to sell more iKlear screen cleaner. Secondarily, a security device on your iPhone that uses your fingerprint to allow access to your phone. Twerk : verb, God help us . A dance move that involves shaking one’s hips in an up-and-down bouncing motion, causing the your buttocks to shake, “wobble” and “bounce.” The second most famous incident, in which a girl twerked onto a table and then caught fire, turned out to be a prank perpetrated by the “Jimmy Kimmel Show.” The most famous incident, in which Miley Cyrus twerked on singer Robin Thicke, has not yet been revealed as a prank. Upworthy : noun . You know those annoying links your friends keep posting on Facebook in between rounds of Candy Crush that make them sound like they should be nominated for sainthood just for posting them? The ones with headlines like “This Puppy Figured Out How to Dial ‘9-1-1’ When His Owner Overdosed on Meth For the Fourth Time, and You’ll Never Guess What Happened Next”? Yeah, it probably comes from Upworthy. Vine; Re-Vine : noun. verb. whatever . An app created by the Attention Deficit Disorder Society of America a.k.a. Twitter. This app allows you to record six seconds of video on a loop and post it to the internet. I’m not particularly sure how much we’re supposed to get out of watching something for just six seconds, but there you are. Can you only burp the alphabet up to the letter “G”? Perfect. Vine it and post for all to see. Maybe people will even Re-Vine it on their own page, so all their friends can see it. That would really be amazeballs. I’d go on, but dinner is being served, and I need to go Instagram it before my kids dig in and ruin the presentation. Dang kids! SMH.

2013-12-20 19:00:00+00:00

{"Bitcoin": [3993]}

{}

Why You Need to Take a Close Look at Dividend Provisions

https://finance.yahoo.com/news/why-close-look-dividend-provisions-190000156.html

Entrepreneur

http://www.entrepreneur.com/

In the last two installments of this series, I tried to deconstruct two important aspects of a venture capital term sheet, namely how to analyze the valuation proposed by an investor and the manner in which the liquidation preference provisions can affect valuation. There is one other economic term that deserves careful consideration: the dividend provision. So what exactly is a dividend? A dividend is a payment or distribution by the corporation to its stockholders. But here's the catch: In over 20 years of practice in the venture capital space, having worked with hundreds and hundreds of venture-backed companies, I have never seen a private, venture-backed company pay a cash dividend to its stockholders. Why? Because venture-backed companies deploy cash to grow and build their business and do not generate returns for investors from their cashflow. It's that simple. So you might ask: If venture-backed companies don't pay cash dividends, why do I need to worry about dividend provisions? Well, here's the answer. Dividend provisions can be structured to create and build an internal rate of return on an investment that is realized upon redemption or an exit through a sale or an IPO. Related: What Every Entrepreneur Should Know About Valuations As a result, venture term sheets typically address the amount and manner in which dividends are to be paid. Most dividend provisions fall into one of three categories: Dividends that are payable on the preferred stock when, as, and if paid on the common stock Noncumulative dividends that are payable on the preferred stock, if and when declared by the board, in a prescribed amount (typically a percentage of the price per share in the range of 4 to 8 percent) Cumulative dividends that accrue on the preferred stock in a prescribed amount, regardless of whether or not they are declared by the board. The first example above is the "friendliest" version. It doesn't give the venture investors any special dividends. The second example above is the next friendliest since it conditions payment upon a specific dividend being declared by the board. And, given the fact that a board would be very unlikely to ever declare such a dividend, this provision is viewed as fairly benign. The last example above, however, ain't so friendly. That is the one that you'll need to think about, because it affects the economics of your deal. Story continues Here's how. Let's say a venture investor is proposing an 8 percent dividend on $5 million. That means that the investment grows by $400,000 each year and in, say, five years, the liquidation preference for the $5 million investment will have grown to $7 million. And of course, given the general predilection of future investors not to want anything less than earlier investors, the dilutive effect of cumulative dividend provisions can add up as the company raises more venture capital to finance its growth. Now here's the good news. Most venture capitalists, particularly early-stage investors, don't use dividend provisions to goose their returns. Remember that most venture capitalists are swinging for the fences with their investments. While dividend provisions may provide a measure of downside protection in bad or mediocre outcomes by generating a modest return, or may otherwise give later-stage investors who are targeting smaller multiples on their investment a built-in return, venture capitalists are "venturing" their money for big returns. And those are obtained by building big businesses. For those investors, the modest returns that can be gotten through cumulative dividends simply don't move the needle. So, if you are faced with a term sheet that has cumulative dividends, you should pause and do the math to think about how it may move the needle for you. Related: Everything You Wanted to Know About VC Liquidation Preference But Were Afraid to Ask More From Entrepreneur Struggling Red Lobster to Split From Parent Company How to Prove Clean Tech is Marketable Bitcoin: The Good, the Bad and the Ugly

2013-12-21 03:39:33+00:00

{"Bitcoin": [1482]}

{}

Federal prosecutors in NY charge 3 in drug website

https://finance.yahoo.com/news/federal-prosecutors-ny-charge-3-004909060.html

Associated Press

https://apnews.com/

NEW YORK (AP) -- Three more men face charges for their alleged roles in the online black market website known as the Silk Road, federal prosecutors in New York City revealed Friday. An indictment unsealed in Manhattan federal court charges Andrew Michael Jones of Charles City, Va., Gary Davis of Wicklow, Ireland, and Peter Phillip Nash of Brisbane, Australia with one count each of narcotics conspiracy, conspiracy to commit computer hacking and money laundering conspiracy. Jones, 24, went by the online handle "Inigo" and Davis, 25, used the online moniker "Libertas" while they monitored user activity and responded to customer service questions as site administrators for Silk Road, according to prosecutors. The 40-year-old Nash — who prosecutors say used online aliases including "Samesamebutdifferent" and "Batman73" — allegedly moderated a site forum. Jones and Nash, who were arrested this week, and Davis, who is believed to be in Ireland, were paid between $50,000 and $75,000 a year for their work, prosecutors said. The lawyer who represented Jones in Virginia said Friday his client waived his right to a bond hearing there and was transferred to New York in the custody of U.S. Marshals. It wasn't clear if Davis and Nash had lawyers. Authorities have said the site's San Francisco operator generated more than $1 billion in illicit business from January 2011 through September by running the drug-dealing website that used a tough-to-track digital currency called Bitcoin. Ross William Ulbricht, 29, was arrested in October and is being held in New York for various charges, including for arranging a failed murder-for-hire plot. Prosecutors charge he operated Silk Road under the "Dread Pirate Roberts" alias — an apparent reference to a swashbuckling character in "The Princess Bride," the 1987 comedy film based on a novel of the same name. Ulbricht hasn't yet entered a plea. His lawyer has said his client is innocent and is not the person who used the "Dread Pirate Roberts" alias. Last month, another man pleaded guilty in federal court in Baltimore to a drug conspiracy charge for his role in the website.

2013-12-22 15:52:00+00:00

{"Bitcoin": [229, 1333, 1662, 2547, 2641, 2756, 3272, 3660, 3911, 4019, 4133, 4382, 4554, 4676, 4726, 4800]}

{"Bitcoin": [101]}

Here's How Two Strangers Jokingly Created Dogecoin — The Digital Currency That People Like More Than Bitcoin

https://finance.yahoo.com/news/finance.yahoo.com/news/heres-two-strangers-jokingly-created-155258312.html

Business Insider

http://www.businessinsider.com/

dogecoin Dogecoin This is the most 2013 thing of the year. An Australian brand and marketing specialist and a programmer in Portland, Ore. who have never actually met have successfully combined the year's two greatest phenomena: Bitcoin, and doge. The result: Dogecoin. And people are actually using it. If you're not familiar with the doge meme, it's hard to explain — you sort of have to just see it yourself. Basically, someone on the Internet began posting images of Comic Sans thought bubbles in the imagined syntax of a devastatingly cute Shiba Inu dog. Variations on the meme look like this: doge DailyEdge.ie There's no point to it; it's just one of those Internet things. But people love it — you can see some "good ones" here . About three weeks ago, Jackson Palmer, who by day works in Adobe's Sydney marketing department, and who'd been following developments in the cryptocurrency world , absentmindedly tweeted , "Investing in Dogecoin, pretty sure it's the next big thing." He got some replies encouraging him to pursue the idea, and a week later bought the domain Dogecoin.com. Inevitably, it got picked up on reddit, a hotbed of doge activity . Meanwhile in Portland, Billy Markus had been trying to program his own digital currency that would appeal to a broader demographic than the profiteers who've flooded into Bitcoin. But the project had gone nowhere. Then he stumbled across Dogecoin.com within a day or two of the site going live. "The first thing I said was, 'This is so funny.' Then I said, 'I should just make this coin.'" He Tweeted at Palmer saying he wanted to go in on it, and before Palmer even responded, started reconfiguring Bitcoin's sourcecode, which is publicly available, to turn its user-facing elements into the doge meme. Eventually Palmer wrote back, and the partnership was formed. A little more than a week after Palmer's jokey tweet, Dogecoin was launched. Again it got picked up on reddit, and instantly exploded. It is already the 13th seventh-largest cryptocurrency, according to Coinmarketcap , with a market value (i.e. number of extant Dogecoins X price of $0.00086) of $8 million. It now enjoys its own full blown ecosystem: in addition to the website, it has a dedicated blog and forum , and of course a subreddit . Story continues How has it done this? Largely through something called "tipping." If you're a geek who "performs" a "good deed" on the Internet, it's become common practice for people to "tip" you in your digital currency of choice. For instance: that kid who held up up his Bitcoin wallet's QR-code during ESPN's College Gameday got tipped thousands of dollars by the Bitcoin community for such a brilliant stroke of guerrilla marketing. But it's become somewhat expensive to tip in Bitcoin, so people have turned to Dogecoin. Only about a week after launching, Dogecoin became the second-most-tipped currency, the pair say. T hey're hoping Facebook will accept a widget they've been working on that would allow friends to "tip" each other with dogecoin. Still, what's so great about Dogecoin? Technically speaking, it's more of a variation on Litecoin, which runs on a cryptographic program called Scrypt. Like Litecoin, the time it takes to process a Dogecoin transaction is much shorter than for Bitcoin. There are also many more Dogecoins that will come into existence — 100 billion versus 21 million. But it's the culture that's sprung up around it that's really driving it forward. Palmer says it comes down to having a lower barrier of entry for people who might be interested in cryptocurrencies but are turned off by either the price of or so-far dubious culture that surrounds Bitcoin. "It's not taking itself as seriously, it's not being used by people worrying about whether they'll become rich," Palmer said. "It's something to share for thanks or kudos." Markus says his wife, who at first was turned off by his interest in Bitcoin, has started mining Dogecoin herself — something you can do with your basic computer, unlike mining Bitcoin, which now requires industrial-strength processors. The pair say they have no intention of competing with Bitcoin, and both are still fervent believers in its potential to change online banking. "I t's a revolutionary technology, absolutely revolutionary," Markus says. "And it works as a store of value because it's deflationary, there will be a cap [on Bitcoins created]. It's just highly speculative, which makes it hard to use, to spend and spread it." How can you tell the Dogecoin phenomenon is not a joke? This morning, Bitcoin and most other altcoins are up about 20% . Dogecoin? Up 250% and counting. Wow. More From Business Insider CRASH: Bitcoin Collapses After Major Blow From China Why Bitcoin Inventor 'Satoshi Nakamoto' Is The Most Impressive Person Of 2013 Bitcoin's Outlook In China Is Not Looking So Good Right Now

2013-12-23 05:00:00+00:00

{"Bitcoin": [53, 429, 606, 1722, 1924, 3138, 3773]}

{}

Devcoin (DVC) At Its Highest Dollar Value Yet – Continues To Make The World a Better Place

https://finance.yahoo.com/news/devcoin-dvc-highest-dollar-value-050000132.html

ACCESSWIRE

https://www.accesswire.com/

Bitoin alternative Devcoin - which is merge mined by Bitcoin miners for free - recently attained its highest dollar value yet: as it continues to support open source world changing projects worldwide. December 23rd, 2013 / ACCESSWIRE / Long lasting ethical digital currency Devcoin recently reached its highest dollar value in history – with 1 million Devcoins now worth approximately $660 USD. Devcoin stands out from the other Bitcoin-like currencies because it is the only currency which can be generated by non-miners, as a reward for the open source work they create. It can also be merged mined with Bitcoin so miners are not left out. Devcoin was created with a unique world changing mission in mind – to fund open source development of all kinds; including writing, programming, music composition and other arts, and even cutting edge engineering feats such as 3D printers, and when the market cap reaches a high enough level, a spaceship. The Devcoin project began in mid 2011 and has been going strong ever since. Devcoin is now close to two and a half years old. As one of the longest running successful digital currencies, it is already showing that it is here to stay and is a relatively safe investment for anyone looking to gain a position in cryptocoins. When investors buy and hold Devcoins they are also supporting the mission of Devcoin which is to support open source development by paying the developers decent wages. Devcoin hopes to bring an end to the all too common starving artist situation. The Devcoin developers believe the world will truly be a better place when artists and developers can actually earn a living through their beneficial work. One typically acquires cryptocurrencies such as Bitcoin by mining, a process where computing power is put into solving complicated algorithms which support the coin’s network and open virtual blocks, releasing the coins. While in the early stages of Bitcoin anyone with a computer could be a miner, it currently takes expensive specialized hardware and well cooled warehouses to mine with any sort of profit. The Devcoin mining algorithm is structured to give 90 percent of the proceeds to open souce writers, artists and developers to compensate them for their work. Writers can contribute content to the Devtome in exchange for generated (mined) Devcoins. The Devcoins will show up in their wallets a few weeks later. All the writer needs to do is what he or she does best: write. This unique distribution mechanism puts Devcoins into the hands of a wider demographic than the computer mining type. It has also likely fueled the steady increase in value up to this point as the people who earn Devcoins often use their earnings to build up a viable Devcoin economy. The number of merchants who accept Devcoin in payment for their product is 15 and growing, aided by the support of Cryptocurrency payment gateway CoinPayments. Developers who do work other than writing can apply for Devcoin bounties which get awarded upon satisfactory completion of their project. Story continues The Devcoin network is primarily supported by miners who merge mine Devcoins with Bitcoins. These miners view their Devcoin earnings as free additional mining profit and so are willing to continue to support the DVC network, despite only receiving ten percent of what they mine. Consistent miner participation keeps the Devcoin network secure and robust and helps transactions confirm quickly. With its long successful run of over two years, its secure and robust network supported by miners, its unique feature of allowing open source developers worldwide to earn DVC, and its consistent support of open source projects which will better the life of all humanity: Devcoin stands out as the most original and ethical Bitcoin alternative in existence. Being at its highest dollar value in history, Devcoin shows no signs of slowing. To learn more please go to: http://devcoin.org/ To trade Devcoin please go to: http://cryptsy.com/ Devcoin Payment Processor For Merchant Checkouts And Invoicing: http://coinpayments.net/ This Press Release is for informational purposes only and should not be taken as investment advice. Please consult with the financial advisor before investing in DVC or any other digital currency. Visit http://devcoin.org/ for more information. Contact Info Name: Devcoin Media Organization: Devcoin Email: [email protected]

2013-12-23 05:15:00+00:00

{"Bitcoin": [176, 749, 838, 1270, 1377, 1456, 2451, 3379, 4369, 4506, 4720], "BTC": [1434, 1790]}

{"Bitcoin": [0]}

Bitcoin Descendant NXT Features 100% New Code, Green Mining, Decentralized Trading, More

https://finance.yahoo.com/news/bitcoin-descendant-nxt-features-100-051500739.html

ACCESSWIRE

https://www.accesswire.com/

With its 100% original codebase, instant transaction confirmations, decentralized trading, 100% green mining or forging, and utility for creating smart property - NXT is a new Bitcoin descendant to watch closely. December 23rd, 2013 / ACCESSWIRE / Second generation digital currency NXT possesses a 100% original code base, eliminates transaction confirmation wait times, utilizes 100% green (or low energy) mining, decentralizes trading, and enables the creation of smart property via “colored” coins. NXT currently possesses an entirely original code base, instant transactions and green mining; the rest of these features and more will be introduced in January 2014 when the new NXT client launches, with some believing NXT is poised to overtake Bitcoin within two years. Unlike all other alt coins which are really just variations of Bitcoin, NXT is a completely original design built from scratch with an entirely new code base. NXT supports instant transactions while still being extremely secure; ending the endless confirmation wait times. NXT transaction speeds are almost as fast as the VISA and Mastercard transactions of the debt based economy which make buying and selling so convenient. But with NXT, those instant transactions can be just as anonymous as Bitcoin, bringing to its users the best of both the fiat and crypto worlds. NXT is currently traded on the Bitcoin-Next Exchange with a current value of 0.00001000 BTC/NXT. However, the Bitcoin-Next Exchange is only temporary. Soon, centralized exchanges with their ever present risk of the operators suddenly disappearing and making off with the users’ funds, will be a thing of the past. The NXT wallet client is currently rolling out a new feature which will enable decentralized peer to peer trading between NXT and BTC, once and for all eliminating the need to place trust in whoever is behind the centralized exchange. Furthermore, those trades can be conducted completely anonymously. Story continues Decentralized trading is only the beginning. Next comes decentralized DNS (significantly enhancing Namecoin’s current offering), decentralized instant messaging and chat, completely anonymous websites with no additional plugins required to browse them, decentralized stock exchanges, and peer to peer transactions of all kinds which are 100% green, secure, encrypted and irreversible. NXT was initially brought into circulation by 71 stakeholders who donated a total of 21 Bitcoins in exchange for a stake in the NXT genesis block which generated one billion NXT. In other words, all the NXT has already been mined. However, transaction fees will continue to be distributed to all NXT wallet clients based on the portion of total NXT each client holds. This proof of stake mining, or more accurately, forging, completely eliminates the need to secure the network with vast amounts of hashing power. It also eliminates any incentive to control 51 percent of the network. Finally, it is a truly green network because the amount of energy required to “forge” transaction fees is minimal. Any ordinary computer with the client installed can forge; which means anyone worldwide can participate in and get rewarded for maintaining the NXT network. NXT’s code supports the creation of “colored” coins, a way to designate specific coins and tie them to physical property. This concept has been attempted with Bitcoin but so far those attempts have been unsuccessful. The ability to “color” or designate specific coins serves as a bridge between the cryptoworld and the physical world. It also provides a way for cryptocoins to be tied to some kind of physical asset. This ability is already being built into the very foundation of the NXT code base. One result expected to take off is a multitude of profitable decentralized autonomous corporations (DACS) which will be 100% backed by shareholders and which will pay out profits to shareholders in dividends. These will be decentralized and anonymous. For the first time in alt coin history, we will have a currency and infrastructure which is based on a 100% original code base, 100% green, accessible to anyone on the planet, truly secure, and fast. With NXT, anyone worldwide can participate in securing the network of this emerging next gen digital currency which is positioned to explode; the high barriers to entry which are characteristic of Bitcoin today will be a thing of the past. To learn more: http://nextcoin.org/ To trade NXT please go to: http://dgex.com/ NXT thread on Bitcointalk: https://bitcointalk.org/index.php?topic=345619.0 This press release is for informational purposes only. Visit http://nextcoin.org/ for more information. Contact Info Name: NXT Organization: NXT Email: [email protected]

2013-12-23 11:00:00+00:00

{"Bitcoin": [37, 105, 388]}

{"Bitcoin": [23]}

Clearly Canadian Joins Bitcoin Community

https://finance.yahoo.com/news/clearly-canadian-joins-bitcoin-community-110000013.html

ACCESSWIRE

https://www.accesswire.com/

Ambassador Brand of Canada accepting Bitcoin in global online campaign. Canada - December 23rd, 2013 /MM-BitcoinPR/ -- Clearly Canadian, in keeping with the ever evolving digital age, is opening up its coming online pre-sales campaign to the global bitcoin community. “Online virtual currencies are clearly here to stay – no pun intended”, according to Mitch Callahan, Clearly Canadian’s Bitcoin Campaign Manager. “Just as Clearly Canadian pioneered the new age beverage industry in the ‘80s and ‘90s…bitcoin, in a much more profound way, is poised to change how we all transact business on a global scale. Clearly Canadian finds that truly exciting and we are proud to be a new emerging member of the bitcoin community.” Clearly Canadian is commencing an online fan-sourced pre-sales campaign worldwide Monday, December 23rd, two days before Christmas, to re-ignite large-scale production and supply current demand. At its last peak Clearly Canadian was producing in excess of 5 million cases annually. “We’d like to pre-sell at least 25,000 cases of Clearly Canadian online to the global bitcoin community, personally I hope we double, triple or even quadruple that goal, but let’s see what happens. Pricing will be denoted in dollars but transacted in bitcoins through BitPay, the leading bitcoin merchant processing platform. We intend to be a long-lerm merchant in bitcoin transacted consumer goods,” stated Mr. Callahan. “Having a globally recognized consumer brand such as Clearly Canadian join the bitcoin community is a powerful statement about the increasing popularity and growing base of bitcoin merchants and users. Many are watching the bitcoin market closely and we hope that this is the first of many established brands that see the benefits of adding bitcoins to their payment options. We are happy to have Clearly Canadian on board and wish the very best of success in its campaign,” stated Tony Gallipi, CEO of BitPay. About Clearly Canadian: Clearly Canadian, established 1987, is one of North America’s leading signature food & beverage brands. Clearly Canadian is focused on producing and marketing high-quality Canadian made consumer goods. Visit https://www.clearlycanadian.com . Story continues About BitPay: BitPay is a leading Payment Service Provider (PSP) specializing in eCommerce and B2B solutions for virtual currencies. Visit https://bitpay.com . Visit http://clearlycanadian.com for more information. Contact Info Name: Mitch Callahan Organization: Clearly Canadian Source: http://bitcoinprbuzz.com/clearly-canadian-joins-bitcoin-community

2013-12-23 12:29:00+00:00

{"Bitcoin": [165, 489, 1362, 2070, 2149, 2233]}

{"Bitcoin": [27]}

A Bloomberg TV Host Gifted Bitcoin On Air And It Immediately Got Stolen

https://finance.yahoo.com/news/bloomberg-tv-host-gifted-bitcoin-122916809.html

Business Insider

http://www.businessinsider.com/

bitcoin Bloomberg TV "milkywaymasta" used this image to digitally mug Bloomberg's Adam Johnson. Bloomberg TV's Matt Miller is currently experiencing the "12 Days Of Bitcoin," a series for the business news television station. On Friday, Miller learned an important lesson. It was an experience that everyone should remember before they start moving their money into the digital currency. While on air, Miller surprised Bloomberg anchors Adam Johnson and Trish Regan each with $20 worth of Bitcoin. But as Johnson received the paper gift, he briefly exposed the QR code (see above). This act was effectively like sharing a bank account and PIN number. Immediately, someone lifted the QR code and stole the $20. This morning, Miller reported that he had engaged the thief — someone who goes by "milkywaymasta" — on Reddit. Here's "milkywaymasta" : I was watching bloomberg where they are doing the "12 days of bitcoin". The guy that is hosting the series gave bitcoin gift certificates to the other two hosts. One of them opens up the certificate to reveal QR code of the private key. They then proceeded to show a closeup of the QR code in glorious HD for about 10 seconds. Hilarious. ... I took it, it was only $20 worth. It was exhilarating nevertheless. I'll send it back once Matt gives me a new address since someone else can sweep the old one. A segment on Bitcoin security and the importance of NOT showing the private key and also BIP0038 (Password Encrypted Private Keys) Wallets will be more than enough compensation. Blockchain confirmation and Public key of where i sent the bitcoin . Miller, however, is done with this person. Here's Miller: "so freaking classic but also a GREAT lesson in bitcoin security! you can keep the $20 -- well earned." As long as there are no laws in place for such thefts, one could probably argue that the money was indeed "earned." Regardless, a great lesson. Here's the Redditors statement and Miller's response from the Reddit thread : Story continues reddit bitcoin Reddit More From Business Insider The Top Post On Reddit's Bitcoin Page Is A Suicide Hotline Phone Number If You Think What's Going On In Bitcoin Is Bad, Check Out What's Happening With The Other Digital Currencies CRASH: Bitcoin Collapses After Major Blow From China

2013-12-23 14:00:00+00:00

{"BTC": [87]}

{}

Benton Participates in Coro Mining Private Placement

https://finance.yahoo.com/news/benton-participates-coro-mining-private-140000988.html

Marketwired

http://www.marketwired.com/

THUNDER BAY, ONTARIO--(Marketwired - Dec 23, 2013) - Benton Capital Corp. (TSX VENTURE:BTC) ("Benton") is pleased to inform its shareholders that the Company has subscribed to 3,133,246 units of Coro Mining Corp. ( COP.TO ) ("Coro") for a price of $0.10 per unit (See Coro PR dated December 12, 2013) for a gross payment of $313,325. Each unit will comprise one common share of Coro and one-half of a common share purchase warrant. Each warrant will entitle the Company to acquire an additional common share of Coro at an exercise price of $0.15 for a period of three years. The warrants will be subject to a forced exercise provision after one year in the event the volume-weighted average trading price of Coro's common shares on the Toronto Stock Exchange is equal to or above $0.30 for 20 consecutive trading days. Benton now holds 61 million shares of Coro or approximately 41% of Coro's common shares as well as 1,566,623 share purchase warrants. In addition, Benton retains its right to maintain its current fully diluted interest in the common shares of Coro Mining moving forward. Stephen Stares, President and CEO of Benton stated, "We feel that the Coro team has done an excellent job in navigating though these challenging times in our sector and are pleased to provide our support in this very important private placement. These funds will assist Coro in completing diamond drilling on the very prospective El Desesperado copper project in mining-friendly Chile and we await the results of that program with much excitement." About Benton Capital Corp.: Benton Capital Corp. is a Canadian based junior which holds the Goodchild Copper-Nickel-PGM project located 5km NE of Stillwater Mining's Marathon Copper-PGM deposit currently being permitted for production. Benton Capital Corp. also holds 61 million shares (approximately 41%) and 1,566,623 share purchase warrants of Coro Mining Corp. (www.coromining.com) ( COP.TO ) - a Vancouver based copper exploration company with projects located in South America. Story continues On behalf of the Board of Directors of Benton Capital Corp., Stephen Stares, President THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."

2013-12-24 02:12:49+00:00

{"Bitcoin": [1106]}

{"Bitcoin": [48]}

You Can Now Buy Victoria's Secret Lingerie With Bitcoins

https://finance.yahoo.com/news/now-buy-victorias-secret-lingerie-021249631.html

Business Insider

http://www.businessinsider.com/

Victoria Secret bag Victoria Secret You can buy a house with bitcoins , a Tesla electric car , a trip into outer space on Richard Branson's Virgin Galactic airline , and all kinds of other things from pizza to illegal drugs . And now, you can use bitcoin to buy Victoria's Secret lingerie via a gift card from Gyft , the app that replaces physical gift cards. The Gyft app is an interesting take on gift cards because it does a couple of cool things. It lets you buy gift cards from about 200 retailers using conventional currencies or bitcoin. Victoria Secret just signed on to be one of those retailers, Gyft says. Or, if you get a bunch of gift cards as gifts, it lets you load them onto your phone so you don't have to carry them in your wallet. You can also use it to re-gift a gift card, sending it to the person's Facebook account, email or phone via a text. That could be a face-saving option if you find yourself in need of a last-minute gift. More From Business Insider DOGECOIN: How A Thing That Started As A Joke Became The Hottest Digital Currency In The World Overstock.com Will Start Taking Bitcoin Next Year Bill Gates Funds A Smartphone Battery That Runs On Human Urine View comments

2013-12-24 11:00:10+00:00

{"Bitcoin": [26, 324, 508, 1106, 1199, 1535, 1568, 1635, 1683, 1826, 1976, 2142]}

{"Bitcoin": [11]}

Study Says Bitcoin is Speculative

https://finance.yahoo.com/news/study-says-bitcoin-speculative-110010350.html

ETF Trends

http://www.etftrends.com/

The growing popularity of Bitcoins as an alternative currency has fueled the industry’s imagination for a related exchange traded fund. However, a new economic study contends that the crypto-currency could be more of a speculative play. According to David Yermack of the Stern School of Business at New York University, the Bitcoin “does not behave like a currency at all” and shows similar traits to some Internet stocks that collapsed in the 90s, reports Simon Kennedy for Bloomberg . Yermack compared the Bitcoin against other major sovereign currencies based on medium of exchange, a unit of account and store of value. The crypto-currency serves as a medium of exchange as more places accept the money, but the currency fails as a unit of account and store of value. The digital currency is volatile and its exchange rate with the U.S. dollar “has virtually zero correlation” with how the dollar trades against other currencies, Yermack argued, making the currency’s “risk nearly impossible to hedge for businesses and customers and renders it more or less useless as a tool for risk management.” The Bitcoin currency surged above $1,200 earlier this year but currently resides below $700. The Bitcoin is a type of decentralized digital currency based on a peer-to-peer network and can be exchanged through computers internationally without a financial intermediary. The system was first introduced by developer Satoshi Nakamoto in 2009. Complex computers act as “miners” that would confirm transactions between two parties using Bitcoins, and they would receive Bitcoins as compensation. This helps serve to expand the supply of Bitcoins, which can not exceed 21 million. [ As Bitcoin Inches Toward Legitimacy, ETF may Soon Follow ] As the digital currency gains momentum, some have floated the idea of an ETF backed by Bitcoins. Earlier this year, the Winklevoss twins of Facebook ( FB ) fame, filed plans with the Securities and Exchange Commission for the Winklevoss Bitcoin Trust. At the time, the filing did not include a ticker, expense ratio or possible release date, indicating that a launch date was not imminent. [ Winklevoss Bitcoin ETF: Crazy, or Crazy Like a Fox? ] For more information on the ETF industry, visit our current affairs category .

2013-12-24 11:23:05+00:00

{"Bitcoin": [0, 163, 444, 597, 724, 787, 887, 983, 1121, 1267, 1333, 1456, 1672, 1714, 1830, 1868, 1947, 2544, 2580, 2629]}

{"Bitcoin": [0]}

Bitcoin’s Status as Currency Undermined

https://finance.yahoo.com/news/bitcoin-status-currency-undermined-112305654.html

24/7 Wall St.

http://247wallst.com

Bitcoin should not be considered a currency at all, at least by the standards by which traditional currencies are measured. New research on the matter should hurt Bitcoin's efforts to be treated as a viable means of exchange for products and services, the debate over which has caused wild fluctuations in its value. According to a new research report from the National Bureau of Economic Research (NBER) written by David Yermack: Motivated by Bitcoin's rapid appreciation in recent weeks, I examine its historical trading behavior to see whether it behaves like a traditional sovereign currency. Bitcoin has exchange rate volatility an order of magnitude higher than the volatilities of widely used currencies, undermining Bitcoin's usefulness as a unit of account or a store of value. Bitcoin's daily exchange rates exhibit virtually zero correlation with bona fide currencies, making Bitcoin useless for risk management purposes and exceedingly difficult for its owners to hedge. Bitcoin also lacks access to a banking system with deposit insurance, and it is not used to denominate consumer credit or loan contracts. Bitcoin appears to behave more like a speculative investment than like a currency. ALSO READ: The Worst Product Flops of 2013 Essentially, use of Bitcoin as a currency is as risky as many forms of gambling. Even Bitcoin's own descriptions of its characteristics affirm the NBER analysis. Part of the description of the currency at the Bitcoin site: The price of a bitcoin can unpredictably increase or decrease over a short period of time due to its young economy, novel nature, and sometimes illiquid markets. Consequently, keeping your savings with Bitcoin is not recommended at this point. Bitcoin should be seen like a high risk asset, and you should never store money that you cannot afford to lose with Bitcoin. If you receive payments with Bitcoin, many service providers can convert them to your local currency And: A Bitcoin transaction is usually deployed within a few seconds and begins to be confirmed in the following 10 minutes. During that time, a transaction can be considered authentic but still reversible. Dishonest users could try to cheat. If you can't wait for a confirmation, asking for a small transaction fee or using a detection system for unsafe transactions can increase security. For larger amounts like 1000 US$, it makes sense to wait for 6 confirmations or more. Each confirmation exponentially decreases the risk of a reversed transaction. Story continues As the debate about the future of Bitcoin goes on, the government and Bitcoin itself apparently agree about something. Bitcoin is really not a currency at all. Related Articles Retail Stocks to Buy (or Not) in 2014 Ten Brands That Will Disappear in 2014 The Most Dangerous Holidays in America

2013-12-26 15:45:00+00:00

{"Bitcoin": [2145]}

{}

Political Gamblers Place Their Bets on Hillary Clinton

https://finance.yahoo.com/news/political-gamblers-place-bets-hillary-154500503.html

The Fiscal Times

http://www.thefiscaltimes.com/

Even before the first ad is aired for next year’s midterm elections, the media has played leapfrog and anointed Hillary Clinton and Chris Christie the odds-on favorites to face off in the 2016 presidential election. Hollywood has weighed in too, according to “Extra,” with endorsements for Clinton from Oprah and Elton John and Shaquille O’Neal and Jon Bon Jovi. Now, the American Civics Exchange , a futures market that allows traders and others in financial services to gamble on political outcomes, is taking bets. It uses fake money as it awaits approval from the Commodity Futures Trading Commission (CFTC). ACE has a track record of success; it correctly predicted when the government shutdown would end. Related: A Republican Who Could Actually Win the Presidency According to the market, Christie is in the lead to represent the GOP, currently trading at $30 per share. His closest competitor, Paul Ryan, is trading at $11. On the Democratic side, Hillary Clinton is a surer bet, trading at $67. Her closest competitor, Joe Biden, is trading at $12. ( The price of the future correlates to percentage. For instance, a Clinton future worth $67 means that there is a 67 percent chance she'll be the nominee.) These results track with recent polling. A CNN/ORC International poll held last month found that 24 percent of Independents who leaned right and Republicans favored Christie, with 13 percent pulling for Ryan. The same poll found that 63 percent of Democrats and left-leaning Independents favored Clinton, while 12 percent polled for Biden. Presidential races are not the only futures the market trades. It predicts who will keep the House and Senate in 2014, giving Democrats a20 percent chance of retaking the House, and a 68 percent change of keeping the Senate. Outcome Prediction (12/25) GOP nominee 2016 Christie (29%) Dem nominee 2016 Clinton (64%) Dem Pres 2016 Yes (66%) Dem House 2014 No (20%) Dem Senate 2014 Yes (67%) Obamacare repeal No (16%) Indiv. Mandate delay No (1%) Device tax repeal No (1%) Keystone approval Yes (66%) Corporate tax cut No (19%) Govt shutdown in Jan 2014 No (2%) FDA Forxiga approval Yes (80%) Bitcoin regulation No (35%) TPP ratification Yes (63%) Minimum wage hike No (40%) It also predicts bad news for opponents of the new health care law. On the market, Obamacare only has a 15 percent chance of being repealed, and there's only a 17 percent chance the individual mandate will fail. Story continues For now, anyone can sign up to participate in the market. Each person is given $100,000 fake dollars. According to a report on NextGov.com, some participants have already doubled their fortune to more than $200,000. Related: 5 Who Could Lead the Republican Party In 2013 "What’s been surprising is how sophisticated a really broad range of our traders are,” Flip Pidot, cofounder of the site, told NextGov. “People have emailed us and told us in forums about policy outcomes they’d like to see us use and they tend to be quite well reasoned." It's not clear when the CFTC will make a decision whether to allow the exchange to trade real money. If it does, it would allow groups with economic interest in political outcomes to hedge against an outcome that is against their interests. Getting CFTC approval could be a long shot. On November 26th, 2012 the Commission brought a suit against Intrade, a popular sports betting website that had delved into predicting the 2012 presidential election, for unregulated trading in gold and other traditional commodities. Intrade closed all its US member accounts one year ago and suspended all trading 3 months later. Related: How the South Won the GOP and Lost the 2016 Election Whether ACE gets the nod from the CFTC or not, it could influence the polls and the media. For instance, imagine a fake lobbying group called Washingtonians for Better Taxes, a group that advocates for lower taxes for the rich. Now imagine a huge tax reform package that would raise taxes on the rich goes before Congress. The group goes to ACE to determine the likelihood of a plan passing, allowing them to hedge spending based on the probability of the bill passing. So if the ACE indicates that futures in the tax bill are trading at $51, Washingtonians for Better Taxes might ramp up efforts to get the bill below the $50 threshold, pushing chances of passage below 50 percent. However, if futures in the tax bill are trading at $90, meaning the package has a 90 percent chance at passing, they can ease up on lobbying. They could also spend their money to rig the outcome. Top Reads from the Fiscal Times: Government Blatantly Wastes $30 Billion This Year Obama’s Dismal Approval Ratings Take Another Dive Why Obama Can't Rescue the Middle Class

2013-12-26 16:00:00+00:00

{"Bitcoin": [2718]}

{}

The Worst Mistake for Small Businesses to Continue in 2014

https://finance.yahoo.com/news/finance.yahoo.com/news/worst-mistake-small-businesses-continue-160000145.html

Entrepreneur

http://www.entrepreneur.com/

Now and then I come across that person who runs a business like it's still the 1960s. It's usually a restaurant, convenience store, gas station or a little shop. It doesn't seem to have been cleaned in years. There are dusty pictures of Sinatra and the Pope (Pope John XXIII, that is) on the wall. There's a cat or a sleeping dog somewhere. The floorboard creaks. There is little sunlight. And yet, this person survives. He may in fact be doing OK. The food is still pretty good. There remains a loyal customer base and/or little competition in the neighborhood. The business is running on autopilot. But he's making one big mistake: "Sorry, we don't accept credit cards." Or, "We only accept credit cards for purchases over $10." Do you ever hear this at Starbucks, 7-Eleven or Olive Garden? No. And these companies will ruthlessly take business from the 1960s guy if they can. Here's a fact: many people aren't carrying cash anymore. You will have to accept credit cards, and soon you will have to accept electronic payments. Don't try to pretend that we, your customers, don't know the real reasons why you don't accept credit cards. You don't want to pay the extra fees, right? And you don't want the tax man to know how much you're bringing in, right? Related: Survey: Small-Business Owners Still Slow to Embrace Credit-Card Payments Don't you think the IRS is smarter than that? If they choose to audit you, don't you think a 12 year old could stand in your store or restaurant for a few days, tally up your average receipts and extrapolate over a year's worth of business to reasonably estimate your revenues? And if that number is significantly different than the one you're reporting because you're oh-so-smart and only taking cash and hiding receipts, don't you think you'll raise a few eyebrows? Clinging to an all-cash business just to play games with your taxes is not a good model to follow. You will get burned. Yes, there are fees. All the credit card companies charge them. And so do mobile payment services such as PayPal and Square. Some of them can be as high as 3 percent per transaction. And even though you can search around for a better deal, the fact is that you're going to pay fees. Story continues So welcome to 2014. Remaining cash only may not only cost you new customers, but keeping the ones that you have. I may really like the veal parm at the little family joint in South Philly, but I'm getting tired of the "we only accept cash" sign that hangs in front of the register. There are plenty of other places in South Philly that serve a good veal parm who accept credit cards. Cash is going away. We live in a world of credit cards, mobile payments, online banking, wire transfers and Bitcoin. Sure, we miss Sinatra and Mickey Mantle. And my mom tells me a milkshake today just doesn't taste like it did when she was a kid. But even if you make that great milkshake, don't expect today's customer to have the cash to pay for it. Related: What Your Banker Isn't Telling You More From Entrepreneur McDonald's Kills Employee Resource Site After Another Gaffe 3 Ways to Make More Cash in 2014 Target Hit by a Sophisticated Hack Job

2013-12-26 21:05:00+00:00

{"Bitcoin": [424, 531, 700, 992, 2695, 3032], "BTC": [1704, 1721, 1921, 1938]}

{"Bitcoin": [42]}

WPCS Announces Public Beta Release of BTX Bitcoin Trading Platform

https://finance.yahoo.com/news/wpcs-announces-public-beta-release-210500070.html

Marketwired

http://www.marketwired.com/

EXTON, PA--(Marketwired - Dec 26, 2013) - WPCS International Incorporated ( NASDAQ : WPCS ), ("WPCS" or the "Company"), today announced that its wholly-owned subsidiary, BTX Trader, LLC ("BTX Trader" or "BTX") has released a beta version of its Windows-based trading platform that is now available to the public at www.btxtrader.com . BTX Trader, which was recently acquired by WPCS, is the first trading platform to enable Bitcoin traders and industry researchers to access market data and execute orders on the five most popular Bitcoin exchanges in a single application. According to Sebastian Giordano, Interim CEO of WPCS, "Now that we have completed this pioneering acquisition in the emerging Bitcoin industry, we intend to hit the ground running. The public release of the beta version of the BTX Trader platform will give the market a preliminary glimpse of some of the features and capabilities that will ultimately help define our unique and proprietary technology." "We encourage Bitcoin traders and others to download, install and try out the beta version of the BTX Trader application and take a look at our blog for the latest updates. Obviously, we are still in development mode, but we're on schedule to release both web and mobile versions of our platform by early 2014," continued BTX Trader Chief Operating Officer, Ilya Subkhankulov. Divya Thakur, BTX Trader Chief Technology Officer, added that, "A key differentiating aspect of our professional grade user interface is that it utilizes a proprietary BTX logic that we believe will help traders better manage risk." Current beta features include: Order Entry Standard limit orders and stop limit orders on five exchanges -- CampBX, BTC-E, BitStamp, BTC China and Mt. Gox; Trade Life Cycle Management Blotter window to monitor positions and orders, including the ability to cancel orders; Market Data Real-time information for six exchanges: CampBX, BTC-E, BitStamp, BTC China, Mt. Gox & CaVirtex displaying time and sales trades; quotes with latest prices bid/ask/last prices; tick charts showing bid/ask/last over the past four hours; and, bar charts for longer term price trend analysis. Story continues Giordano concluded that, "In addition to continuing the aggressive steps initiated in August 2013 to improve WPCS' balance sheet and performance through, amongst other things, cost reductions, debt restructuring, cessation and sale of negative cash flow businesses, and focusing on our remaining profitable engineering subsidiaries, we fully expect that BTX Trader will begin generating revenue by mid-year of calendar 2014. This public beta release is merely the first step towards establishing and then growing the Bitcoin segment of our business." About WPCS International Incorporated WPCS operates in two business segments including: providing engineering capabilities such as wireless communication, specialty construction and electrical power to the public services, healthcare, energy and corporate enterprise markets worldwide, and developing a Bitcoin trading platform. For more information, please visit www.wpcs.com and www.btxtrader.com . Statements about the company's future expectations, including future revenue and earnings and all other statements in this press release, other than historical facts, are "forward looking" statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time. The company's actual results could differ materially from expected results. In reflecting subsequent events or circumstances, the company undertakes no obligation to update forward-looking statements.

2013-12-27 03:25:00+00:00

{"Bitcoin": [41, 114, 265, 560, 831, 984, 1335, 1421, 1481, 1553, 2036, 2234, 2280, 2335, 2396, 2492, 2537]}

{"Bitcoin": [55]}

Blockchain.info Acquires ZeroBlock, The Killer App For Bitcoin

https://finance.yahoo.com/news/finance.yahoo.com/news/blockchain-acquires-zeroblock-killer-app-032500901.html

ACCESSWIRE

https://www.accesswire.com/

Blockchain.info has acquired the premier Bitcoin mobile application ZeroBlock. December 27th, 2013 / ACCESSWIRE / Bitcoin icon Blockchain.info is proud to announce the acquisition of ZeroBlock: a leading mobile application for iPhone and Android devices. Alongside Bitcoin itself, both companies have had explosive growth and the timing is perfect to combine forces. In November, Blockchain.info added nearly 300,000 users and ZeroBlock saw meteoric downloads with the release of its much anticipated Android version. “When I’m asked what’s the killer app for Bitcoin right now I always recommend ZeroBlock.” Says Nicolas Cary, CEO of Blockchain.info. “What Dan Held and Kevin Johnson have accomplished is truly remarkable. ZeroBlock has created an enduring design aesthetic that elegantly filters the signal from the noise in the Bitcoin ecosystem. I’m completely obsessed with it” he added. “Kevin and I felt there was a void in the app marketplace for a well-designed, informative Bitcoin app.” Said Held. “So we built ZeroBlock to be simplistic but possess deep functionality, focusing on easily digestible and relevant information.” “We were excited to have the opportunity to grow ZeroBlock with the resources and user base of Blockchain.info. With their support, ZeroBlock will solidify its position as the leader in the mobile Bitcoin app marketplace.” Blockchain.info has some very ambitious future goals in the Bitcoin space – one of these is to build an informed global Bitcoin audience. ZeroBlock will play a pivotal role helping the global Bitcoin community follow market trends and open up new revenue sources. Finally, Blockchain.info is excited to announce that Dan Held will be joining the Blockchain team as Product Manager. Held plans to accelerate development of Blockchain.info products. “I took the normally boring task of checking financial data and news, and managed to make it an enjoyable and highly engaging experience. Now I hope to bring that usability to Blockchain.info, starting with the redesign of the Bitcoin wallet aesthetics and functionality, while simultaneously working to take ZeroBlock to new heights.” Story continues About Blockchain: Blockchain.info is the original and pre-eminent online Bitcoin wallet; praised by geeks and loved by Bitcoiners worldwide. Blockchain.info also hosts fresh Bitcoin charts, currency statistics, and an easy to navigate Bitcoin Blockchain explorer. About ZeroBlock: ZeroBlock is the leader in mobile development for Bitcoin enthusiasts. ZeroBlock combines live Bitcoin exchange data with up to the minute breaking news and charts. To learn more about ZeroBlock, please visit: Main landing Page: http://www.zeroblock.com/ Download ZeroBlock on iOS: https://itunes.apple.com/us/app/zeroblock/id643184018?mt=8 Download ZeroBlock on Android: https://play.google.com/store/apps/details?id=com.phlint.android.zeroblock&hl=en Visit http://blockchain.info/ for more information. Contact Info Name: Nicolas Cary CEO, Blockchain.info Organization: Blockchain.info Email: [email protected]

2013-12-27 11:06:33+00:00

{"Bitcoin": [248, 625, 1338]}

{}

The 'Joke' Digital Currency Dogecoin Is Actually A Really Big Deal

https://finance.yahoo.com/news/joke-digital-currency-dogecoin-actually-110633367.html

Business Insider

http://www.businessinsider.com/

N1K1B0Y Imgur One of the big stories on Christmas day was the huge theft of over $6000 worth of Dogecoin . As soon as that news broke, we saw a bunch of people on Twitter asking: "What the hell is Dogecoin?" Basically, it's a digital currency like Bitcoin that also incorporates bizarre "doge" meme, which involves a picture of a dog and some random words on it. Rob Wile wrote about how the currency was invented. Basically it was a joke, but in less than a month, the total value of all the Dogecoins in the world are over $8 million , according to CoinMarketCap.com. There are lots of digital currencies that are based on Bitcoin or competing with it in some way. Some seem more serious than others. All have little tweaks that distinguish it. Often the changes have to do with the mining process. Dogecoin seems like a funny amusement, more than a serious thing, and in a sense that's true. And yet in a way it's a really big deal. Here's something that was started by two guys (one in Portland, and one in Australia) and now Dogecoins are already a huge currency online for "tipping", basically giving away free coins to someone if you like something they do (like for example if they leave a great comment on Reddit). The Dogecoin community on Reddit is already huge , bigger than all other digital currency communities, except the Bitcoin one. What this means is that a community that has a taste for the absurd (people who are into weird internet memes) can have their own currency with real economic value in a short time. It seems like a symbol of things to come. It's easy to imagine any number of communities or affinity groups having their own currency. A band for example could create a currency for fans to purchase merchandise. Who knows if Dogecoin itself will go anywhere. In two weeks, the "doge" meme could be completely forgotten, and then the currency itself will seem like a funny joke from the good old days of 2013. But the ease with which something can establish moneyness and serve a purpose within a community is impressive, and a sign of things to come. More From Business Insider In The Future, We May Only Have Sex For Fun — Not To Procreate Google Obliterates Buzzy Startup Rap Genius For Trying To Game The System Teens In The UK Are Calling It: Facebook Is Dead And Buried

2013-12-27 11:06:33+00:00

{"Bitcoin": [248, 625, 1338]}

{}

The 'Joke' Digital Currency Dogecoin Is Actually A Really Big Deal

https://finance.yahoo.com/news/finance.yahoo.com/news/joke-digital-currency-dogecoin-actually-110633367.html

Business Insider

http://www.businessinsider.com/

N1K1B0Y Imgur One of the big stories on Christmas day was the huge theft of over $6000 worth of Dogecoin . As soon as that news broke, we saw a bunch of people on Twitter asking: "What the hell is Dogecoin?" Basically, it's a digital currency like Bitcoin that also incorporates bizarre "doge" meme, which involves a picture of a dog and some random words on it. Rob Wile wrote about how the currency was invented. Basically it was a joke, but in less than a month, the total value of all the Dogecoins in the world are over $8 million , according to CoinMarketCap.com. There are lots of digital currencies that are based on Bitcoin or competing with it in some way. Some seem more serious than others. All have little tweaks that distinguish it. Often the changes have to do with the mining process. Dogecoin seems like a funny amusement, more than a serious thing, and in a sense that's true. And yet in a way it's a really big deal. Here's something that was started by two guys (one in Portland, and one in Australia) and now Dogecoins are already a huge currency online for "tipping", basically giving away free coins to someone if you like something they do (like for example if they leave a great comment on Reddit). The Dogecoin community on Reddit is already huge , bigger than all other digital currency communities, except the Bitcoin one. What this means is that a community that has a taste for the absurd (people who are into weird internet memes) can have their own currency with real economic value in a short time. It seems like a symbol of things to come. It's easy to imagine any number of communities or affinity groups having their own currency. A band for example could create a currency for fans to purchase merchandise. Who knows if Dogecoin itself will go anywhere. In two weeks, the "doge" meme could be completely forgotten, and then the currency itself will seem like a funny joke from the good old days of 2013. But the ease with which something can establish moneyness and serve a purpose within a community is impressive, and a sign of things to come. More From Business Insider In The Future, We May Only Have Sex For Fun — Not To Procreate Google Obliterates Buzzy Startup Rap Genius For Trying To Game The System Teens In The UK Are Calling It: Facebook Is Dead And Buried

2013-12-27 19:45:53+00:00

{"Bitcoin": [173, 332, 413, 1391, 1541, 1549, 1664]}

{"Bitcoin": [81]}

Shares Of No-Name Tech Company Go Crazy After It Announces It's Getting Into The Bitcoin Game

https://finance.yahoo.com/news/shares-no-name-tech-company-122532967.html

Business Insider

http://www.businessinsider.com/

btx BTXTrader Shares in a little-known tech firm are up more than 75% in pre-market trading this morning after it announced it was preparing to launch a beta version of its Bitcoin trading platform. Pennsylvania-based WPCS says it recently acquired BTXTrader, which is developing what it says is the first trading platform allowing Bitcoin users to "access market data and execute orders on the five most popular Bitcoin exchanges in a single application." "Obviously, we are still in development mode, but we're on schedule to release both web and mobile versions of our platform by early 2014," BTX Trader Chief Operating Officer Ilya Subkhankulov said in the release. The firm's shares surged more than 20% to $1.81 on heavy volume in after-hours trading yesterday. We first saw the story on Marketwatch as reported by Wallace Witkowski . Very little has been written about WPCS, which bills itself as a communications infrastructure firm. They IPO'd in 2003 at more than $140 and spent the next 10 years going to practically zero. wpcs Yahoo This past January they received a delisting warning from NASDAQ for failing to comply with the minimum $1 per share rule, but ultimately got a reprieve. Their market cap is a little more than $2 million. This kind of thing is common, as no-name penny stock companies frequently jump on hot trends in hopes of stoking interest. The "tour" of the Bitcoin platform is a series of GIFs. We've reached out to the firm for comment. More From Business Insider Here's The Most Tragic Thing About Mining Bitcoin Bitcoin Mining Is Becoming A Professional, Industrial, Nordic Enterprise The Worst Kind Of People Have Entered The Bitcoin Game

2013-12-30 17:04:00+00:00

{"Bitcoin": [113, 443, 646, 1080, 1100, 1457, 1598, 1631, 1700, 1761, 1865, 1965, 2302, 2369, 2420, 2486, 2729, 2788, 3088, 3133, 3223, 3451, 3621, 5832, 5909, 6083, 6974, 7189, 7384, 7585, 7693, 7885, 7939]}

{"Bitcoin": [61]}

Here's The Answer To Paul Krugman's Difficult Question About Bitcoin

https://finance.yahoo.com/news/heres-answer-why-bitcoin-value-170458588.html

Business Insider

http://www.businessinsider.com/

tightrope balance walker stunt Flickr/krypto Paul Krugman set off a new firestorm this weekend with a post about Bitcoin that asked a fairly simple question: What gives a bitcoin its worth ? The post drew a ton of angry reaction from the Internet community and tech people for a couple of reasons. One is that this question — why is a bitcoin worth anything — is a difficult question to answer. The other is that the post is bizarrely titled "Bitcoin Is Evil" even though the post doesn't say that. But on the Internet, people don't read past the headline and so, outrage! But back to the question of trying to establish an "intrinsic value" for Bitcoin. It's not simple. The dollar has intrinsic value because you need dollars to pay taxes in the United States. The government accepts no other currency. So if you're going to engage in any kind of commerce whatsoever, you need to use dollars. This creates real value for the currency. Gold has real value because it's shiny and can be used for jewelry. Other commodities get their value from industrial purposes. But what about Bitcoin? If you ask Bitcoin believers why a bitcoin is worth anything at all, they will tell you about how amazing the technology is, and how it's "programmable" and how cryptography and pseudoanonymity are so great. But none of these are very satisfying answers. litecoinborder Litecoin.org Why Litecoin believes its superior. For one thing, these features mainly explain why Bitcoin as a payment platform is so intriguing. They don't explain price. And as Krugman even notes in his original post, most of the techie Bitcoin bulls usually talk about Bitcoin as a platform (something that's easy to defend), rather than Bitcoin as an asset that will go up or down. Furthermore, if Bitcoin's value were simply a function of all of the technological aspects, then there's no reason that Bitcoin wouldn't easily be supplanted by another crypto-currency that has better features (even the Bitcoin bulls will acknowledge that the technology could be better, particularly on the mining side and the confirmation time). Story continues For example Litecoin, the second-biggest player in the game, advertises that if you transact in Litecoin you get faster confirmation times and that the whole system can handle more volume than Bitcoin. So the usual arguments aren't that compelling. Now in the Bitcoin-sphere, there's a lot of debate about what Bitcoin is . People go 'round and 'round in circles about whether Bitcoin is a currency or a commodity or a platform or a protocol or an equity or whatever. These squabbles frequently get semantic ( What is a currency? Must it be a stable store of value? ) and usually they suffer from an inclination to plug Bitcoin into a category where it never quite fits. I think Bitcoin is a hybrid of three things with which we're all pretty familiar: a currency, an equity, and a social network . The currency part is pretty easy to understand. Someone is offering something for sale like a bike or a month's rent, and they might give you a quote in dollars, yen and bitcoins. Bitcoin basically acts like a currency then. Bitcoin also has equity-like characteristics in that the value seems to grow as the whole Bitcoin ecosystem grows. The value of a bitcoin is up about 50x this year, which is an insane swing for a currency, but if you think about it as equity in a hot startup, it's not that preposterous when coming off of a low base. Bitcoins also have market cap (see: CoinMarketCap ). And most crucially, there's a social networking element to it (this is something Antonis Polemitis has written on ). Bitcoin is something that's valued because lots of people use it. It's not that different from Napster. Napster was game-changing technology in terms of how people get music, but it only had value once it was used by a lot of people. Same with Facebook. The technology may not have been better than its predecessors, but it got a lot of people using it, and suddenly the platform became tremendously valuable. Strong, robust network effects are crucial for making the whole thing work. Let's go through why ... Let's say you're a Chinese millionaire, and you're looking to take a big hunk of your fortune out of the country. This is not a trivial problem. The Chinese government has strict controls about wiring money out of the banking system. One way to get money out is to give your money to something called a "junket operator." That junket operator will give you a bunch of chips to go gamble with in Macau. Then after you're done gambling you take your remaining chips, cash them out for the local Macau currency (the Pataca) and then deposit those Pataca in a bank in Macau where that money is not burdened by capital controls. But that's difficult in part because you're dealing with a shady junket operator who might have ties to the criminal underworld. Then you have to gamble and play a huge cut to the casino. And then there's all the travel. Another way you can get money out of the country is by buying a bunch of Rolex watches and putting them on all your wrists and ankles, and then flying out of the country and selling them to someone outside of China and then depositing that cash in a foreign bank. But like all luxury goods, the Rolexes are likely to lose a lot of value the second you take them out of the store. And do you really feel safe traveling with all those watches on you? It's a dicey enterprise. The hot new way to evade capital controls is to buy bitcoins, and then slip them to another wallet connected to a bank account in some other country. Then sell the bitcoins to a buyer and deposit that money in a bank somewhere. The government would have an extremely hard time tracking this down (which is why lately the governments of China and India) have grown more negative on Bitcoin. This is a low-cost solution, but it's not risk-free. As we've seen, Bitcoin is volatile, so you could experience a big price swing. But even if you can stomach the price swing, you have to be certain that there will be buyers for millions in Bitcoin on the other end of the transaction. This is only assured with big network effects. dogecoin Dogecoin Despite the technological similarity, our Chinese millionaire could not conduct the same transaction with Dogecoin . The value of all the Dogecoins in the world is just $7 million, so if you wanted to move $1 million, you'd need to suck up one-seventh of all the money in Dogecoin . It would be way too big a gamble. Other crypto currencies have total "market caps" much less than $1 million. So then you literally could not execute the transaction despite equivalent — or in some cases superior — technology associated with other coins. Without the network effects, the technology is nothing. It's just a theoretical amusement. The question then becomes: Can the social network last? If it can, then the value can be maintained, or might grow by even a lot. But history is not on Bitcoin's side on this question. For one thing, no social network seems to have much lasting power ... especially not the first in a given category (Napster, MySpace, ICQ, etc). This also doesn't satisfy what gives Bitcoin a "floor" in value — but then an equity never has a floor. Equity can go to zero, but that doesn't mean that in the meantime it's not worth something. Bringing it all back home: A lot of Bitcoin skeptics are willing to accept that there's something technologically interesting going on here (Paul Krugman even posted a followup to his "evil" post talking about what kinds of problems the Bitcoin technology solves). But the economics of it are more tenuous. But if the network of people remains, Bitcoin may keep solving problems, like the problem of getting money out of a restrictive country. More From Business Insider Someone Stole At Least 11 Million Dogecoins — On Christmas Here's Bitcoin Priced In Gold BILL GROSS: We Are Living In A Bitcoin Age

2013-12-30 18:56:13+00:00

{"Bitcoin": [1757, 1811]}

{}

The Internet Is Trying To Save Dogecoin — And It's Working

https://finance.yahoo.com/news/internet-trying-save-dogecoin-working-185613450.html

Business Insider

http://www.businessinsider.com/

dogecoin shiba REUTERS/Bobby Yip On Christmas Day, someone hacked into two of the largest Dogecoin wallet sites and stole 30 million units of the digital currency. It was a huge blow to a community that prides itself on its lack of rapaciousness. Dogecoin is mostly used to "tip" people on the Internet for performing favors or good deeds. At least two animal shelter groups, one in Florid and one in Spain, also accept the currency. That same generosity has now produced an incredible attempt to restore faith in Dogecoin's integrity by raising money to compensate people who'd lost funds. Launched Friday by techie Ben Doernberg , "the 12 days of Dogemas," which is being run out of reddit , has already raised more than 5 million Dogecoins, worth about $2,200. Contributions have come from around the world, and there's a mining pool that's sending 1% of their haul to the effort. In an email, Doernberg says he hopes to raise at least 15 million. "The effort has been successful because respect, support and love is baked into the DNA of dogecoin," Doernberg said. "The doge meme is all about over-the-top positivity and optimism, and dogecoin was started in pursuit of fun and laughter, not greed. A few minutes spent on r/dogecoin will show that there isn't a more welcoming, friendly community anywhere on the Internet." Dogecoin co-founder Billy Markus told us in an email he was amazed by the project. "I've NEVER seen something like this before in cryptocurrency. Usually when something gets hacked the common response is for everyone to call the people who got hacked 'idiots'. To me, this is incredible." Dogecoin's market cap has been cut in half since reaching a high of more than $14 million on December 19. More From Business Insider Here's Bitcoin Priced In Gold BILL GROSS: We Are Living In A Bitcoin Age Someone Stole At Least 11 Million Dogecoins — On Christmas

2013-12-30 19:43:20+00:00

{"Bitcoin": [43, 319, 450, 624, 994, 1014, 1048, 1140, 1294]}

{"Bitcoin": [4]}

New Bitcoin IRA Offered by Broad Financial

https://finance.yahoo.com/news/bitcoin-ira-offered-broad-financial-194320814.html

Marketwired

http://www.marketwired.com/

MONSEY, NY--(Marketwired - Dec 30, 2013) - Bitcoin has experienced growing acceptance in the commercial arena, and is now being offered as a viable retirement asset. Broad Financial , a leader in the self-directed IRA market, is educating retirement investors as to the methods and platforms available for investing in Bitcoin. Daniel Gleich, Broad's COO, stresses the need for the investing platform to be in sync with the mindset of the investor. "Bitcoin is still at a stage where it is being purchased by early adopters and those who are willing to take a chance on a relatively new asset. The companies who try to push Bitcoin via standard vehicles like trusts and funds are not going to see the best response. A non-custodial IRA, with its freedom of transaction and asset choice, offers the most versatility and profitability, and appeals to those who are willing to get in on the ground floor. Broad's Checkbook IRA fits these criteria, and that's the reason we're making the move with Bitcoin." The Broad Bitcoin IRA differs from previous Bitcoin retirement platforms in a number of key aspects. The first is in the ability to buy Bitcoin directly through the exchanges without having to invest via an organized fund. This allows investors to have their retirement accounts own actual Bitcoin as opposed to just shares. The second notable feature of the Broad platform is the elimination of the middle man. This is accomplished by setting up the IRA with an LLC which allows for direct investment without a custodian. These two unique features streamline the investment process, as well as making it much more economical by getting rid of custodian and fund fees.

2013-12-30 21:16:00+00:00

{"Bitcoin": [2971]}

{}

13 Hot Stock Market Trends to Keep Watching in 2014

https://finance.yahoo.com/news/13-hot-stock-market-trends-211600019.html

The Fiscal Times

http://www.thefiscaltimes.com/

As we close the books on 2013 and open them on 2014 with varying degrees of trepidation and relief, let’s acknowledge that what has happened in the past shapes our expectations for the future, and the more recent those past events are, the greater a role they will play in determining how we prepare for the future. In psychology, it’s referred to as the “availability heuristic,” and you don’t have to look very far to see how it works in finance: It’s the primary reason that most of us are very bad at picking market tops and market bottoms. And the larger or more dramatic a recent event is, the tougher it is for many of us to prevent it from lingering, front and center, in our minds. Little wonder, then, that so few investors were able and willing to turn bullish on the stock market as early as March 2009, only months after the massive financial crisis and in an atmosphere of tremendous uncertainty. Of course, trends can remain intact for months or years. Moreover, while we like to think in terms of calendar quarters and years, it’s unlikely that the dynamics governing financial metrics are going to oblige by neatly realigning themselves at dawn on Jan. 1. Related: Can the Stock Market Party Keep Rocking in 2014? Still, the following short list of 2013 market phenomena is worth pondering as we head into a new year. Even if the markets don’t automatically shift gears, it’s a great time for us human beings to pause, question what that pesky “availability heuristic” is convincing us is true and reconsider those assumptions. 1. The stock market’s big rally has been named the top business story of 2013 by the Associated Press, and no wonder. It created trillions of dollars of new wealth for stock investors and shrugged off events that would in other circumstances have caused it to falter, from rising interest rates and underwhelming economic data to chronic dysfunction in Congress. 2. We may all have forgotten this in the last thirty years, but it's possible to lose money in the bond market . While interest rates may not rise all that much – and the Federal Reserve has said it won’t boost short-term lending rates in 2014 – odds are that market participants will let rates edge higher in the new year, triggering more losses among bondholders. 3. That brings us to the Great Rotation by investors, a phenomenon that began to register on the radar screen of pundits and market analysts in 2013 and is likely to gain a lot of ground in 2014 as folks reconsider the macro-level question of just how much of their portfolio they should invest in what appear to be newly risky bonds. Story continues 4. Momentum has mattered in 2013, and it’s going to continue to shape stock market returns in 2014 until something we can’t anticipate today suddenly stops it in its tracks. That’s Newtonian law in action. 5. For all the public angst about innovation, business creation and entrepreneurship, all appear alive and well. Just consider the way that Bitcoin has elbowed its way into the mainstream, or the discussion surrounding the 3-D printing industry . Odds are that a host of new businesses and industries will take shape in 2014. 6. Some of those new businesses will spawn companies that go public in IPOs, just as 3D printing companies ExOne Co. and Voxeljet AG did this year. But this year’s IPO market reminded us that not all hot IPOs belong to bleeding edge businesses: top performers included oil pipelines and restaurant chains. 7. And some of those gains will be here today and gone tomorrow, as Twitter’s big selloff in the final days of 2013 signaled. That’s the downside of that pesky momentum: When an analyst points out that a stock is rallying on nothing but momentum, the rush to the exits can be dramatic, too. 8. Another warning that high growth may be alluring but also volatile came from emerging markets. Investors tempted to invest heavily in this arena came to grief in 2013 as historically high economic growth faltered and new structural risks emerged, along with, in some cases, political conflict. 9. Paradoxes can endure, the big banks reminded us in 2013. Even as they battled big headwinds (record fines from regulators; new rules that they insist will limit profits; a big downturn in the mortgage market) they still managed to post higher earnings growth rates than any other sector. 10. Sometimes, what you think is logical isn’t. While the shortcomings of the new health care law’s technology backbone were the focus of much ire in November, health care stocks blithely turned in the best performance of all. For the year, they are handily beating the S&P 500, ahead 43.13 percent. 11. Health care companies also are ahead of the pack when it comes to capital spending, of which most industries have been very wary and which was lower for S&P 500 companies by the end of the third quarter of 2013 over year-earlier levels. Meanwhile, those companies spent 2013 recording quarter after quarter of record cash levels. Something’s gotta give; the cash has to start going somewhere. 12. All that cash has lured activist investors, and will continue to draw them to companies with piles of money on their books. Some activists came to grief in 20913 (see Bill Ackman, with J.C. Penney), but the jury’s still out on other campaigns, including Carl Icahn’s attempt to get Apple to cough up some of its own cash. 13. The economy. The Fed. Washington’s policymakers. None of these seemed likely to support the kind of big stock market rally we witnessed this year; at best, they created an uncertain climate that typically makes investors wary and edgy. Even earnings growth wasn’t all that robust, compared to recent years. And yet, the rally happened: Another reason to try and adjust for that pesky “availability heuristic” as we all settle down to think about what 2014 may have in store for us. Top Reads from The Fiscal Times: The No-Fear Guide to Financial Planning in 2014 5 Companies That May Not Survive Past 2014 A Rehab To-Do List for Congress in 2014 View comments

2013-12-30 22:20:00+00:00

{"Bitcoin": [323, 545, 611, 1023, 1071, 1163, 1803, 2027, 2069, 2562, 3115, 3162, 3241, 3289, 3385]}

{"Bitcoin": [0]}

Bitcoin ATMs Are Spreading Across the World

https://finance.yahoo.com/news/bitcoin-atms-spreading-across-world-222000828.html

Entrepreneur

http://www.entrepreneur.com/

Sometimes the future can sneak up on you. Like when you find out that a startup incorporated in the British Virgin Islands, whose employees live in New Hampshire and whose products are made in Portugal, is selling digital-currency ATMs to Saudi Arabia and Singapore. These are only two of the countries that have purchased Bitcoin ATMs from manufacturer Lamassu, which announced Monday that it had sold 120 of the machines to customers all over the world. A map Lamassu created to mark the occasion, showing the far-flung sales locations of its Bitcoin ATMs, not coincidentally illustrates the global appeal of Bitcoin. Zach Harvey, Lamassu's chief executive, said as much in a press release. "We will be shipping to 25 different countries, ranging from Canada to Kyrgyzstan, and we've translated our user interface into more than a dozen languages, including Russian, Chinese and Friulian," Harvey said. Lamassu has delivered about a dozen ATMs so far, with plans to ship the others in spring 2014. Related: India's No. 1 Bitcoin Exchange: Shutdown 'In No Way' Reflects Bitcoin's True Potential In October 2013, another company, Robocoin, made headlines for its Bitcoin ATM, said to be the first in the world that was available to the public, when one of its machines was installed in a coffee house in Vancouver. Within its first month in operation, the ATM had processed more than CAD$1 million in transactions. Robocoin's machine, which costs $20,000, or four to five times as much as Lamassu's (the company offers price discounts for bulk orders), allows users both to buy bitcoins with paper bills and to withdraw cash by selling bitcoins. Lamassu's table-top ATM, which is much more compact than Robocoin's kiosk, cannot provide cash in exchange for bitcoins, only the other way around. Although Bitcoin ATMs are still in their infancy, they already represent a contentious space, in which each company is jealous of its claim to fame. After Business Insider Australia reported Monday that a company called 21st Century Bitcoin Exchange was setting up the first Bitcoin ATM in Australia, Lamassu corrected the news site on Twitter, saying it had already installed one of its own ATMs in Melbourne, with "about 15 more on their way." Story continues Robocoin's chief executive, for his part, took a shot at buy-only machines such as Lamassu's when his company's ATM debuted this past August. "Seriously, how bush league is an 'ATM' if it can't do the equivalent of deposits and withdrawals?" Robocoin CEO Jordan Kelley said. Lamassu will be presenting its Bitcoin ATM for trial use at the CES Startup Debut event in Las Vegas on January 5, prior to the Consumer Electronics Show that will kick off two days later. After one of Lamassu's machines was installed in Bratislava, Slovakia, a local man named Juraj Bedn?r created a YouTube video demonstrating how easy it is to use. "It's always exciting for a young startup to have sales ramp up," Harvey said in the release. "But what's really thrilling for us is to know that these will be out in the wild, providing millions of people with effortless access to Bitcoin every single day." Related: Actually...Bitcoin's Recognition Is Pretty Darn High More From Entrepreneur India's No. 1 Bitcoin Exchange: Shutdown 'In No Way' Reflects Bitcoin's True Potential Tech Myths People Keep Falling For Lesson Learned: TV Anchor Shows Off Bitcoin, Is Instantly Robbed

2013-12-30 22:20:00+00:00

{"Bitcoin": [323, 545, 611, 1023, 1071, 1163, 1803, 2027, 2069, 2562, 3115, 3162, 3241, 3289, 3385]}

{"Bitcoin": [0]}

Bitcoin ATMs Are Spreading Across the World

https://finance.yahoo.com/news/finance.yahoo.com/news/bitcoin-atms-spreading-across-world-222000828.html

Entrepreneur

http://www.entrepreneur.com/

Sometimes the future can sneak up on you. Like when you find out that a startup incorporated in the British Virgin Islands, whose employees live in New Hampshire and whose products are made in Portugal, is selling digital-currency ATMs to Saudi Arabia and Singapore. These are only two of the countries that have purchased Bitcoin ATMs from manufacturer Lamassu, which announced Monday that it had sold 120 of the machines to customers all over the world. A map Lamassu created to mark the occasion, showing the far-flung sales locations of its Bitcoin ATMs, not coincidentally illustrates the global appeal of Bitcoin. Zach Harvey, Lamassu's chief executive, said as much in a press release. "We will be shipping to 25 different countries, ranging from Canada to Kyrgyzstan, and we've translated our user interface into more than a dozen languages, including Russian, Chinese and Friulian," Harvey said. Lamassu has delivered about a dozen ATMs so far, with plans to ship the others in spring 2014. Related: India's No. 1 Bitcoin Exchange: Shutdown 'In No Way' Reflects Bitcoin's True Potential In October 2013, another company, Robocoin, made headlines for its Bitcoin ATM, said to be the first in the world that was available to the public, when one of its machines was installed in a coffee house in Vancouver. Within its first month in operation, the ATM had processed more than CAD$1 million in transactions. Robocoin's machine, which costs $20,000, or four to five times as much as Lamassu's (the company offers price discounts for bulk orders), allows users both to buy bitcoins with paper bills and to withdraw cash by selling bitcoins. Lamassu's table-top ATM, which is much more compact than Robocoin's kiosk, cannot provide cash in exchange for bitcoins, only the other way around. Although Bitcoin ATMs are still in their infancy, they already represent a contentious space, in which each company is jealous of its claim to fame. After Business Insider Australia reported Monday that a company called 21st Century Bitcoin Exchange was setting up the first Bitcoin ATM in Australia, Lamassu corrected the news site on Twitter, saying it had already installed one of its own ATMs in Melbourne, with "about 15 more on their way." Story continues Robocoin's chief executive, for his part, took a shot at buy-only machines such as Lamassu's when his company's ATM debuted this past August. "Seriously, how bush league is an 'ATM' if it can't do the equivalent of deposits and withdrawals?" Robocoin CEO Jordan Kelley said. Lamassu will be presenting its Bitcoin ATM for trial use at the CES Startup Debut event in Las Vegas on January 5, prior to the Consumer Electronics Show that will kick off two days later. After one of Lamassu's machines was installed in Bratislava, Slovakia, a local man named Juraj Bedn?r created a YouTube video demonstrating how easy it is to use. "It's always exciting for a young startup to have sales ramp up," Harvey said in the release. "But what's really thrilling for us is to know that these will be out in the wild, providing millions of people with effortless access to Bitcoin every single day." Related: Actually...Bitcoin's Recognition Is Pretty Darn High More From Entrepreneur India's No. 1 Bitcoin Exchange: Shutdown 'In No Way' Reflects Bitcoin's True Potential Tech Myths People Keep Falling For Lesson Learned: TV Anchor Shows Off Bitcoin, Is Instantly Robbed

2013-12-31 19:15:36+00:00

{"Bitcoin": [41, 241]}

{"Bitcoin": [25]}

Fortress plans to launch Bitcoin fund, Fortune says

https://finance.yahoo.com/news/fortress-plans-launch-bitcoin-fund-191536935.html

theflyonthewall.com

http://beta.theflyonthewall.com/?referrer=yahoo

Fortress Investment Group is preparing a Bitcoin fund which likely will be much larger than a similar offering from SecondMarket, according to Fortune, which added that more information about Fortress' plans could be revealed tonight at the Bitcoin New Year's Eve Bash.

2013-12-31 21:15:00+00:00

{"Bitcoin": [194, 602, 1372, 3354, 3899]}

{}

WPCS Announces Several New Developments

https://finance.yahoo.com/news/finance.yahoo.com/news/wpcs-announces-several-developments-211500938.html

Marketwired

http://www.marketwired.com/

EXTON, PA--(Marketwired - Dec 31, 2013) - WPCS International Incorporated ( NASDAQ : WPCS ) today announced several operational and corporate updates related to its contracting business, recent Bitcoin acquisition and administrative matters as of December 31, 2013. According to Interim CEO Sebastian Giordano, "We believe that the aggressive steps we began implementing in August 2013 and continue to execute to stabilize and turnaround core operations, reduce corporate overhead, and improve stockholders' equity are working. Meanwhile, we will be equally diligent in establishing our newly acquired Bitcoin operation to best position ourselves for growth in this sector." The following are some of the recent developments the Company wants to highlight as calendar 2013 comes to a close: Since last reporting new contracts for July and August 2013, the Company is announcing that for the four months ended December 31, 2013, its two profitable domestic subsidiaries have executed new project contract awards of approximately $6.8 million, a 27% increase over the $5.4 million of contracts awarded for the same period last year. Notable customers included: Johnson Controls, Siemens, Honeywell, SimplexGrinell, San Francisco International Airport, Sutter General Hospital and California Pacific Medical Center; The Company has initiated a search for a President for its Bitcoin trading platform, BTX Trader, LLC ("BTX"); secured office space for BTX in New York City; and is currently pursuing several key BTX-related strategic initiatives that it hopes to be able to report upon early in 2014. In addition, since announcing the public beta of its BTX trading platform, the Company has experienced a 600% increase in beta enrollments; With its corporate office lease expiring on January 31, 2014, the Company will be relocating to a smaller, lower cost space, which will be accompanied by further reductions in related overhead expenses. Recently, the Company entered into a separation agreement with a former executive that it expects will save approximately $200,000 in future compensation expense; and The Company has entered into a non-binding agreement with a business broker to find a buyer for the 60% interest in its China-based joint venture. Story continues "We believe that WPCS is a company on the forefront of exciting change and we are proactively pursuing numerous operational and strategic measures to try to capitalize on the opportunities. Moreover, other current initiatives include discussions with: (i) certain independent public accounting firms, with client experience that includes companies engaged in the type of next-generation technologies, on-line payment systems, trading platforms, or similar industries as BTX, and which we believe would be more appropriately suited for our evolving business; (ii) investor relations firms that would help us more effectively communicate our revitalized message to the investor community; and (iii) specialized resources that will enhance our team of expert advisors; the selections of which we expect will be resolved shortly, in each of these areas," Giordano continued. In closing, Giordano added that, "We are very encouraged by the improvements that have been made thus far and expect will continue to be made to improve WPCS' balance sheet and profitability. We are excited about Bitcoin and the potential offered by BTX to participate in an evolving marketplace. Considering where we were just five months ago before implementing our plans, we are very confident about the future prospects for the Company and for building shareholder value in 2014 and beyond." About WPCS International Incorporated: WPCS operates in two business segments including: (1) providing communications infrastructure contracting services to the public services, healthcare, energy and corporate enterprise markets worldwide; and (2) developing a Bitcoin trading platform. For more information, please visit www.wpcs.com and www.btxtrader.com . Statements about the company's future expectations, including future revenue and earnings and all other statements in this press release, other than historical facts, are "forward looking" statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time. The company's actual results could differ materially from expected results. In reflecting subsequent events or circumstances, the company undertakes no obligation to update forward-looking statements.

2013-12-31 21:15:00+00:00

{"Bitcoin": [194, 602, 1372, 3354, 3899]}

{}

WPCS Announces Several New Developments

https://finance.yahoo.com/news/wpcs-announces-several-developments-211500938.html

Marketwired

http://www.marketwired.com/

EXTON, PA--(Marketwired - Dec 31, 2013) - WPCS International Incorporated ( NASDAQ : WPCS ) today announced several operational and corporate updates related to its contracting business, recent Bitcoin acquisition and administrative matters as of December 31, 2013. According to Interim CEO Sebastian Giordano, "We believe that the aggressive steps we began implementing in August 2013 and continue to execute to stabilize and turnaround core operations, reduce corporate overhead, and improve stockholders' equity are working. Meanwhile, we will be equally diligent in establishing our newly acquired Bitcoin operation to best position ourselves for growth in this sector." The following are some of the recent developments the Company wants to highlight as calendar 2013 comes to a close: Since last reporting new contracts for July and August 2013, the Company is announcing that for the four months ended December 31, 2013, its two profitable domestic subsidiaries have executed new project contract awards of approximately $6.8 million, a 27% increase over the $5.4 million of contracts awarded for the same period last year. Notable customers included: Johnson Controls, Siemens, Honeywell, SimplexGrinell, San Francisco International Airport, Sutter General Hospital and California Pacific Medical Center; The Company has initiated a search for a President for its Bitcoin trading platform, BTX Trader, LLC ("BTX"); secured office space for BTX in New York City; and is currently pursuing several key BTX-related strategic initiatives that it hopes to be able to report upon early in 2014. In addition, since announcing the public beta of its BTX trading platform, the Company has experienced a 600% increase in beta enrollments; With its corporate office lease expiring on January 31, 2014, the Company will be relocating to a smaller, lower cost space, which will be accompanied by further reductions in related overhead expenses. Recently, the Company entered into a separation agreement with a former executive that it expects will save approximately $200,000 in future compensation expense; and The Company has entered into a non-binding agreement with a business broker to find a buyer for the 60% interest in its China-based joint venture. Story continues "We believe that WPCS is a company on the forefront of exciting change and we are proactively pursuing numerous operational and strategic measures to try to capitalize on the opportunities. Moreover, other current initiatives include discussions with: (i) certain independent public accounting firms, with client experience that includes companies engaged in the type of next-generation technologies, on-line payment systems, trading platforms, or similar industries as BTX, and which we believe would be more appropriately suited for our evolving business; (ii) investor relations firms that would help us more effectively communicate our revitalized message to the investor community; and (iii) specialized resources that will enhance our team of expert advisors; the selections of which we expect will be resolved shortly, in each of these areas," Giordano continued. In closing, Giordano added that, "We are very encouraged by the improvements that have been made thus far and expect will continue to be made to improve WPCS' balance sheet and profitability. We are excited about Bitcoin and the potential offered by BTX to participate in an evolving marketplace. Considering where we were just five months ago before implementing our plans, we are very confident about the future prospects for the Company and for building shareholder value in 2014 and beyond." About WPCS International Incorporated: WPCS operates in two business segments including: (1) providing communications infrastructure contracting services to the public services, healthcare, energy and corporate enterprise markets worldwide; and (2) developing a Bitcoin trading platform. For more information, please visit www.wpcs.com and www.btxtrader.com . Statements about the company's future expectations, including future revenue and earnings and all other statements in this press release, other than historical facts, are "forward looking" statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time. The company's actual results could differ materially from expected results. In reflecting subsequent events or circumstances, the company undertakes no obligation to update forward-looking statements.

2014-01-02 04:21:36+00:00

{"Bitcoin": [142, 540, 592, 1037, 1204, 2020]}

{}

Here's what should bolster bitcoin in 2014

https://finance.yahoo.com/news/heres-bolster-bitcoin-2014-042136041.html

CNBC

http://www.cnbc.com/

Getty Images Last year was nothing short of exciting for bitcoin and with 2014 set to be another interesting year for digital currencies, the Bitcoin Foundation expects wider adoption and the recognition of its potential to support bitcoin going forward. Over the course of 2013 the digital currency increased nearly 6,000 percent in value on the Mt. Gox exchange, closing the year out at $806. In late November, bitcoin peaked at $1,242 before concerns about Chinese regulation and a global speculative bubble led to a rapid depreciation. Bitcoin has since stabilized around current levels. Bitcoin was trading at $816 on the Mt Gox exchange on Tuesday afternoon in Asia. ( Read more : Do you really know bitcoin? Here are 11 myths ) As mainstream awareness continues to increase the question remains: given volatility and speculation can bitcoin become a viable currency? "There's certainly a lot of work that needs to happen... between now and bitcoin being a unit of account unto itself," Patrick Murck, principal and founder of the Bitcoin Foundation, which aims to standardize, protect and promote the use of bitcoin worldwide, told CNBC on Thursday. ( Read more : Big US online retailer to accept Bitcoin ) "But people are working on it and I think that's what you're going to see happen this year. Having reliable exchanges... more merchants coming on board, more consumers using it as a payment platform. All of those things will support bitcoin going forward as a currency," he added. Among the key events for bitcoin in 2013 were a surprisingly positive U.S. senate hearing on digital currencies in November and regulatory action from Chinese authorities in December. Despite the positive developments in the U.S., concerns about greater global regulation continue to linger after the People's Bank of China ordered third-party payment providers to stop using bitcoin in December, sparking a sharp fall in the value of bitcoin. However, Murck expects such concerns to fade. Story continues ( Read more: Meet 'Bitcoin Jesus', a virtual currency millionaire ) "It's the same story that you saw play out in the U.S. At first people don't recognize bitcoin at all, they don't know what it is. They first take a look at it [and] it's very disruptive so it looks scary. So they want to tap the breaks a little bit and see what this thing is," he said. ( Read more : Behind China's love affair with bitcoin ) "As they start to get their heads around it and understand the real potential for economic growth, for job growth, for connecting people to a globally connected digital economy, they start seeing why as a policy objective they should be supporting innovation in this space. So I think you'll see the same thing in China," he added. As for what 2014 holds for the underlying value of bitcoin, Murck said it all comes down how useful bitcoin is. "I think the underlying value is going to be determined by how useful it is to people in commerce. So the more merchants that adopt it, the more consumers use it, the more businesses use it for supply chain management and for business-to-business transactions and cross-border transactions, the more valuable bitcoin will be to everybody and that will be reflected in the price." - By CNBC's John Phillips. Follow him on Twitter @J_Phillips_CNBC More From CNBC Why gold bugs should brace for an 'awful' 2014 Ford develops solar powered car for everyday use Martha Stewart settles legal dispute with Macy's

2014-01-02 12:23:09+00:00

{"Bitcoin": [2006]}

{}

Apple Starts The Year With A Downgrade From Wells Fargo

https://finance.yahoo.com/news/apple-starts-downgrade-wells-fargo-122309235.html

Business Insider

http://www.businessinsider.com/

Tim Cook AP Apple CEO Tim Cook Apple has been downgraded to "market perform" from "outperform" by Wells Fargo analyst Maynard Um. Um's downgrade is based on gross margin concerns. "Our bullish thesis on Apple had been predicated on the expectation for gross margin (GM) expansion driven by the 5s cycle," said Um in his note, according to Street Insider . "While we still have conviction in the gross margin thesis (and the potential for iPad/iPhone unit upside), we believe this may be largely embedded into the valuation." Um is also concerned that the balance of power is going to shift away from phone makers to carriers this year. "Wireless operators have been offering generous subsidies of ~$400 per smartphone, getting the price to consumers to ~$250 in an effort to drive increased smartphone penetration," says Um, and it sounds like he's skeptical this can continue. A few thoughts on that: 1. We believe Apple sets up long-term contracts with carriers, so we don't think this is an actual risk for Apple. 2. This meme was talked about last year, and Tim Cook generally shot it down by pointing out that carriers get loyal, high-priced customers from the iPhone. 3. This isn't a subsidy from the carriers, it's a charge that goes over 2 years. Jean Louis Gassee had a great post on this recently : " There is no subsidy . Carriers extend a loan that users pay back as part of the monthly service payment. Like any loan shark, the carrier likes its subscriber to stay indefinitely in debt, to always come back for more, for a new phone and its ever-revolving payments stream." Anyway, Um has some positive thoughts about Apple. He could see the stock benefiting from an iWatch, iBeacons, an iPhone 6, and a new bigger dividend/buyback plan. The stock was down .75% in pre-market trading this morning. More From Business Insider Get Ready For A Seriously Huge Year From Apple In 2014 APPLE TO ICAHN: Drop Dead Tech People Are Passing Around This Paul Krugman Quote On The Internet After He Called Bitcoin 'Evil'

2014-01-02 17:51:00+00:00

{"Bitcoin": [265, 1271, 1290]}

{}

100 Things You Should Be Talking About in 2014

https://finance.yahoo.com/news/100-things-talking-2014-175100087.html

Entrepreneur

http://www.entrepreneur.com/

The novelty of drones is so 2013. If you are going to be de rigueur in 2014, you had better be thinking about how best to regulate the use of drones . While digital currency is becoming increasingly part of the mainstream fiscal news cycle -- 2014 will be the year Bitcoin rivals will creep into the conversation. Related: 10 Trends for 2014: We Seek Imperfect, Human Moments. With Our Smartphones at the Ready. And at your next divorce party, if you want to be en vogue , those ice cubes had better be infused with a juice, fruit or herb. Want to know more trending subjects for the upcoming year? Here's a look at the 100 things -- listed in alphabetical order -- that are going to be the "it" topics of 2014, according to New York City-based advertising agency JWT. If you want a deeper dive into the topics listed below, head over to JWT for a bit more analysis. Related: 'Her' Got Us Thinking. Can You Love -- Like, Really Love -- Your Technology? And if you are touched by nostalgia, here's a look back at what was going to be hot in 2013 . 1. 3D Printer Retail Hubs 2. 3D Printing Accessories 3. Aerial Yoga 4. African Contemporary Art 5. Algae 6. Ambient Commerce 7. Armchair Travel 8. Arrested IRL Development 9. Art Incubators 10. AwesomenessTV 11. Beacons 12. Bitcoin Rivals 13. Bitcoins Bust Out 14. Branded Real Estate Development 15. Brands Blur Gender Lines 16. Brands in Space 17. Brazil as Debutante 18. Brazilian Art 19. Breath Analysis 20. Catering to Chemical Sensitivities 21. Chinese Wines 22. The Circular Economy 23. Cocktails on Tap 24. Community-Supported Everything 25. Contemplative Computing 26. Couriers on Call 27. Craft Mocktails 28. Deconstructed Dinners 29. Delivery Wars 30. Demonizing Food Dyes 31. Digital Art 32. Digital Grieving 33. Divorce Parties 34. Drone Regulation 35. E-Cigarette Regulation 36. Edible Packaging 37. Equal Rights for Men 38. Fashion for the Space Age 39. Fast Food Tofu 40. Feel-Good Fashion 41. Glanceable UI 42. Glassware 43. Godless Congregations 44. Google Glass Etiquette 45. Hacking's New Frontier 46. Haptic Technology 47. Hashtag Fatigue 48. Heads-Up Movement 49. Homemade Baby Food Delivery 50. Human Touches 51. Infused Ice Cubes 52. Internet Safety Nets 53. Jumia 54. Kid-Bots 55. Live Broadcasts 56. Makeup Salons 57. The Marijuana Market 58. mEmployment 59. Messaging Apps as Retail Channel 60. Metadata 61. Mindfulness in Classrooms 62. Minimoons 63. Minute to Read It 64. Needle-Free Vaccines 65. Oculus Rift 66. OTT TV 67. Photoshop for All 68. Podcast One 69. Privacy by Design 70. Privacy Marketplace 71. Regional Ethnic Cuisine 72. Robotic Security Guards 73. Role-Playing Adventures 74. Savory Yogurt 75. Seamless Payments 76. Semiautonomous Cars 77. Sensory Literacy as Core Curriculum 78. Sight-Running 79. Smart Vending Machines 80. Snail Slime 81. The Social Divide 82. Sochi's Third Coming 83. Soju 84. Speaking Visually 85. Sports Mashups 86. Stealth Health 87. Survival of the Focused 88. Tablet-First TV 89. Techno-Paranoia 90. Telediagnostics 91. Telepresence Robots 92. Traditional Folk Clothing 93. Ugly Produce 94. Unconventional Models 95. Vaping Lounges 96. Vegetable Co-Stars 97. Verified Reviewers 98. Virtual Stickers Come to Life 99. Xbox Programming 100. Xiaomi More From Entrepreneur Why Faith Belongs in Your Workplace The Top 5 Franchise Industries to Watch The 30 Fastest-Growing Jobs in America

2014-01-02 17:52:05+00:00

{"Bitcoin": [791]}

{"Bitcoin": [1]}

"Bitcoin," Or How To Lose Your Shirt Before You Even Buy It

https://finance.yahoo.com/news/bitcoin-or-how-to-lose-your-shirt-before-you-even-71980501515.html

Yahoo Tech

https://www.yahoo.com/tech/

As we all sit around trying to figure out how we’re going to pay off our credit card debt without selling our plasma, those of us who aren’t “in the know” (translation: “engaging in illegal activities”) have had a way of generating our very own money all by ourselves and we didn’t even realize it. The only problem is that the method for making and spending this currency is more complicated even than teaching your parents how to set their DVR. And its value swings back and forth like Miley Cyrus on a wrecking ball, only with better posture. Also, the government isn’t sure whether it likes this currency or hates it. Oh, and no one really accepts it unless you’re into illegal drugs or porn, so once you find some you’re kind of stuck with it. Other than that, it’s a really cool idea. Bitcoins are an online currency that began life in 2009 as a “non-fiat” — or, loosely translated, “I have no Italian car” — alternative to regular money, and the method for finding these bitcoins is so complex that I suspect it is at least one reason why Ben Bernanke is taking such a long vacation from the Federal Reserve. A pseudonymous software developer named “Satoshi Nakamoto” released a paper that essentially said that a currency that was not beholden to any central regulatory group and had an official end date for printing so that there would be a finite number of them was a spiffy idea. He apparently released some bitcoins into what could loosely be called “circulation” online and then left those who were paying attention a road map for making more. Don’t bother looking for them; you need a computer system that is so advanced it would cost you tens of thousands of dollars to put it together. And the more bitcoins that are generated, the harder they are to find. Most people these days just buy them from people who bought them from other people who were waiting for the value to go up so they could sell them and reap the profits in real money, which can actually be spent. The problem is that once you buy these bitcoins, no one really wants to take them off your hands, for a variety of reasons. It’s kind of like the investment version of trying to shake a piece of sticky tape off your fingers. While we financial Philistines place our trust in the government to keep our money safe, bitcoin believers place their trust in an anonymous body of “miners.” Miners are hardcore computer users who have agreed to record all transactions for public record and who also “make” new bitcoins in the process. The idea here is that this anonymous network with no knowledge of finance or economics will approve your supposedly untraceable purchase more quickly and less expensively than will your average credit card company, which employs thousands of professionals, has bank-grade security systems, and is beholden to the federal government. Fair enough. For my money, the real danger here — other than having someone steal your bitcoins in the transaction, which happens more than they’d like to admit — is the possibility of editorializing: “Your $19.95 charge for viewing ‘Saturday Night Beaver’ has been approved and, frankly, we think you should be a little ashamed of yourself.” Story continues Here’s another thing: No one really knows the precise value of a bitcoin at any particular point in time. According to The Wall Street Journal’s < Market Watch >* blog, the value of a bitcoin recently shot up to $1,242 before settling back down to around $1,000 in a single day. And for those who collect physical bitcoins, which are minted in precious metals for that “under the mattress” style of investing, the coins are so hard to sell that they are primarily used as game board pieces. And there are other online currencies competing for a place in the market, so conceivably we could one day be trying to pay for things in several different currencies, all of which have different values that may or may not stay the same throughout the transaction: Store Owner: “That will be 0.0001 bitcoin, please. Will you need any satoshis back?” Me: “Satoshis? What is that, metric?” Store Owner : “No, I think it’s the smallest fraction of a bitcoin. Whoops, the value just dropped again. That will actually be 0.0002 bitcoin.” Me: “I only have this half pogue in my wallet. Can you break that for me?” Store Owner: “I’m sorry, you’ll have to buy something else…” So who in their right minds, you ask, would accept this imaginary money that may or may not be worth anything, is incredibly hard to find, and is even tougher to spend? Up until very recently, there were four main groups: Hackers who were into the Deep Web, angry libertarians with a taste for investing, drug dealers and unsuccessful money launderers. Theoretically, bitcoins are not beholden to any central network of control, which is the main benefit if you’re doing something naughty with your money. It’s anonymous, almost. Just ask the proprietors of Silk Road, the former “Amazon.com” of illegal drugs that was shut down by the federal government. More recently, the bitcoin is being accepted as payment in a wider market for items that are far less likely to earn you an appointment with a probation officer, but it’s still in its infancy. If you’ve read Kashmir Hill’s fabulous account in Forbes of what it’s really like to live on bitcoins for an entire week, then you know it’s possible to survive as long as you’re willing to go hungry and be homeless, depending on where you live. That doesn’t mean that there aren’t bitcoin believers among those whose wealth would have us believe that they know a good investment when they see one. If you happen to have enough bitcoins in your imaginary online wallet, you can always hitch a ride with Brangelina on Richard Branson’s galactic spaceship. If it ever takes off. View comments

2014-01-05 13:00:00+00:00

{"Bitcoin": [122, 199, 321, 341, 457, 618, 940, 999, 1097, 1261, 1406, 1460, 1531, 1600, 2004, 2175, 2546, 2585, 2608, 2698, 2902]}

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Roger Ver, Erik Voorhees and Vitalik Buterin Join KryptoKit in Ownership Roles

https://finance.yahoo.com/news/roger-ver-erik-voorhees-vitalik-130000864.html

Marketwired

http://www.marketwired.com/

TORONTO, ON--(Marketwired - Jan 5, 2014) - KryptoKit ( http://www.kryptokit.com/ ), the easiest and fastest way to handle Bitcoin transactions, today announced that three of the biggest names in the Bitcoin space have joined the startup in ownership roles. They are Roger Ver, Erik Voorhees and Vitalik Buterin. Known in Bitcoin circles as "Bitcoin Jesus" for his active efforts in evangelizing and promoting the digital currency (including placing ads for Bitcoin on highway billboards and handing out bitcoins for free), Ver is CEO of MemoryDealers.com and a serial seed investor, having helped such startups as the Bitcoin Store, BitInstant and Blockchain.info. Voorhees is co-founder of Coinapult, a company which currently specializes in allowing users to send bitcoins via SMS and email, but will soon considerably expand its range of offerings. He has worked as marketing director at BitInstant and is a co-founder of FeedZeBirds, a Bitcoin-based Twitter advertising platform, and Paysius, a Bitcoin payment module. "We at KryptoKit are thrilled to welcome these important figures from the Bitcoin world onboard to form our amazing team," said Anthony Di Iorio, the company's co-founder along with Steve Dakh. "Roger and Erik are probably two of the top Bitcoin spokespeople in the world and will be working with us on business strategy and other areas." Buterin is the cofounder and head writer at Bitcoin Magazine, and is also involved in a number of Bitcoin software projects including pybitcointools, multisig.info, the Bitcoin private key secret sharing utility btckeysplit and a fork of BitcoinJS. He is also a heavy supporter of "cryptocurrency 2.0" applications such as user-issued currencies, on-blockchain identity systems and decentralized exchange, and is now actively working on developing an upcoming next-generation cryptographic consensus network known as Ethereum. "Vitalik rounds out what is becoming a very diverse and capable team," said Dakh. "As one of the top developers in Bitcoin, he will be a huge asset as we continue to develop and perfect our backend and programming." Story continues KryptoKit recently unveiled its plug-in at the Inside Bitcoins West conference, Dec. 10 to 11, in Las Vegas, Nevada. It currently has a five-star rating in the Chrome Web Store. For more information, please visit http://www.kryptokit.com/ . About KryptoKit KryptoKit is a Toronto-based company specializing in encryption and digital currencies. One of the company's founders, Anthony Di Iorio, is also the founder of Toronto Bitcoin Meetup ( http://www.meetup.com/Bitcoin-Toronto/ ) and Bitcoin Decentral ( http://www.bitcoindecentral.ca ) and is the Executive Director of the Bitcoin Alliance of Canada ( http://www.bitcoinalliance.ca/ ), a non-profit dedicated to raising the awareness of bitcoins among Canadian consumers, merchants and policy makers to promote the adoption of Bitcoin and other virtual currencies.

2014-01-05 16:00:00+00:00

{"Bitcoin": [87, 818, 896, 978, 1045, 1071, 1161, 1215, 1299, 1413, 1485, 1625], "BTC": [1181]}

{"Bitcoin": [92]}

Fifth Annual Startup Debut at CES(R) Presents Startup Innovation in Mobile, 3D, Gadgets and Bitcoin Companies

https://finance.yahoo.com/news/fifth-annual-startup-debut-ces-160000834.html

Marketwired

http://www.marketwired.com/

LAS VEGAS, NV--(Marketwired - Jan 5, 2014) - WHAT: Half a dozen of the world's leading Bitcoin startups join top 3D, mobile and gadget companies to present and demo new products prior to the opening of the CES showfloor. WHEN: Sunday, January 5, from 7 to 10 p.m. WHERE: Cili Restaurant, Bali Hai Golf Course and Country Club, 5160 Las Vegas Blvd. S., Las Vegas, NV 89119. Buses will shuttle media from CES activities taking place at the Mandalay Bay Convention Center (Shark Reef Aquarium entrance parking lot) to Cili beginning at 6:30 pm and will continue shuttles every fifteen minutes through 10:30 pm. ABOUT: Great food, premium wine and beer, and the elegant golf course setting of Cili set the perfect backdrop to peruse cutting-edge technologies at a leisurely pace. Among the companies presenting will be: A Bitcoin new products pavilion: (Friday was the fifth anniversary of the first Bitcoin). BitAngels (Las Vegas and Austin). Largest angel network of investors in Bitcoin technologies; representatives will be available to discuss Bitcoin investing trends. BitcoinShop (Washington, DC). Largest online retailer offering merchandise exclusively in Bitcoins. Duty Free BTC (High Point, NC) - E-commerce Bitcoin store for duty free products. Kncminer (Stockholm, Sweden). World's leading Bitcoin mining hardware provider, with more than $60 million in sales in past nine months and the world's fastest Bitcoin miner, the 3 Th/s Neptune. Kryptokit (Toronto, ON) - An instant Bitcoin wallet and secure instant messaging system that runs right in the browser. Lamassu (Manchester, NH) - The smallest, least expensive Bitcoin ATM on the market, which recently shipped its 100 th unit. Traditional consumer electronics products, apps and online services being showcased include: Body Bench (Los Angeles). Multi-purpose fitness product launching its Kickstarter at this event. Card.Com (Santa Monica, CA). Innovative, branded affinity Visa debit cards. Concepter (Donetsk, Ukraine). Fresh from its successful Kickstarter (raising $100,000 more than its goal), Concepter will debut the first prototype for its new LED flash for smartphones and tablets, iBlazr. Flm.tv ( Austin, TX). A new social pay-per-view site for indie films. iBlueOpen (Budapest, Hungary). Bluetooth-enabled, wireless locks and security systems for home and business. Lease by Auction (Portland, OR). Innovative new site brings "name your own price" model to real estate leasing. Liquipel (Santa Ana, CA). The smash hit of the past two Startup Debuts, Liquipel and its watersafe coatings for mobile devices will introduce more new innovations . Storytime Studios (Boston, MA). Makers of the innovative Skit! App for iPhone, iPad and other mobile platforms. Sverve (New York, NY). Social media marketing platform for connecting brands and influencers. Leonar3do (Budapest, Hungary) - A technology that transforms the 2D flat dimension of desktop computers and other devices into a real 3D work environment and promises real interaction with the computer and with any 3D objects. TradeYa (Venice, CA). Social platform for bartering online. Walls360 (Las Vegas, NV). Innovative publisher of on-demand wall graphics for designers and brands. Wideband Antennas (Temecula, CA). Wideband will announce and debut an exciting new wireless consumer electronics device at Startup Debut. CONTACT: Interested media should RSVP to [email protected] or call Martin Stein at 702-285-2873 . On-site registration for full-time working media (no consultants, advertising personnel or occasional bloggers, please) with CES accreditation will also be available at the event. Disclaimer: "Consumer Electronics Show," "CES," "CES®" and "International CES®" are registered trademarks of the Consumer Electronics Association. Startup Debut at CES 2014 is not affiliated with or endorsed by CES or the Consumer Electronics Association.

2014-01-06 19:08:00+00:00

{"Bitcoin": [291, 462, 595, 672, 1132, 1180, 1249]}

{"Bitcoin": [12]}

BYRON WIEN: Bitcoin Will Collapse In 2014

https://finance.yahoo.com/news/byron-wien-bitcoin-collapse-2014-190849698.html

Business Insider

http://www.businessinsider.com/

byron wien REUTERS/Sebastien Nogier Byron Wien, Vice Chairman of Blackstone Advisory Services, attends the GAIM International (Global Alternative Investment Management) hedge fund conference in Monaco, June 15, 2010. Blackstone Group vice chairman Byron Wien does not have a lot of faith in Bitcoin. Included on his list of annual "surprise" predictions is the possibility that acceptance of the digital currency collapses this year. "In 2½ years the price of a Bitcoin has increased from $25 to $975," says Wien. "The supply of bitcoins is fixed at 21 million with 11.5 million in circulation. Bitcoins lack gold’s position as a store of value over time. During the year Bitcoin’s acceptance collapses as investors realize that it cannot be used as collateral in financial transactions and its principal utility is for illegal business dealings where anonymity is important." Wien's 2013 predictions did not pan out so well , but perhaps he will have more luck this year. Click here for a list of all of Wien's 2014 predictions. More From Business Insider A Wall Street Analyst Has Identified The Winners And Losers In The Rise Of Bitcoin This Texas Congressman Is Now Accepting Bitcoins For His Senate Run Fortress Investment Group Is Launching A Bitcoin Fund