Silver Law Company Accused Cryptsy Of Fraudulent Business Practices by Polina Chernykh on Friday, October 24th, 2014 11:01pm EDT Leave a comment Cryptsy faced a lawsuit from US law company that accused the bitcoin exhcnage of withholding information on security risks and fund management methods. Florida-based Silver Law Company has filed a lawsuit against bitcoin exchange Cryptsy for allegedly using illegal business methods and irresponsible security measures. In court documents, submitted in the 15th Judicial Court of Florida on October 23rd, Silver Law Company accused Cryptsy of breaking the Deceptive and Unfair Trade Practices Act. According to claims, the exchange failed to provide details about safety threats and client fund administration protocols. Cryptsy investors noted their accounts were emptied and bitcoin funds disappeared. Complainant Skye Bonow, one of the exchange’s users, had lost 140 BTC in January because of safety and security violation due to unknown problems. Cryptsy then made an official announcement denying the charges. Counsel David Silver blamed Cryptsy for improper funds administration. He said: “This is like the client walking into a bank on a Monday morning with a statement from the bank saying he has 150 BTC, and asking to withdraw that bitcoin, and the bank saying that someone took that money this morning and we have no responsibility for it.” According to the suit, businesses are obliged by the Florida law to protect their customers and provide data on the potential threats and risks of utilizing the service. The court documents stated that Cryptsy withheld information about safety risks and how the funds were stored. The exchange has also failed to give details about third parties that were involved with the exchange service. The suit reads: “As a result of Defendants’ deceptive trade practices, Plaintiff was deceived into transferring bitcoin to Defendants, deceived into believing that Plaintiff’s assets were safe; and deceived into maintaining assets with Defendants when Plaintiff would have otherwise been able to protect and preserve his assets – thus causing significant economic damage to Plaintiff.” Cryptsy said in an official announcement that it is going to challenge the charges and added that Bonow’s computer was attacked by hackers and the company could do nothing to return the funds. Cryptsy CEO Paul Vernon wrote in the firm’s blog: “The complaint alleges that Cryptsy misled users and was negligent in security. They represent a single user. We have reviewed the unofficial complaint and believe that it is without merit. We intend to defend the case vigorously.” The blog also enlisted actions the customers should take before using the platform in order to avoid similar problems. Among these actions is the use of two-factor authentication. Under the terms of agreement, all disputes are to be settled through arbitration. How to Store Bitcoins by Anton Kolkovskiy on Thursday, March 20th, 2014 7:32am EDT 0 Comments We know how Bitcoins are generated and how a bitcoin transaction works, but how are bitcoins stored? We store cash in a physical wallet, and bitcoin works in a similar way, except it’s normally digital. Paper wallets can be used to store bitcoins offline in non-digital format. Using securely generated paper wallets significantly decreases the chances of your bitcoins being stolen by hackers or computer viruses. Photo: Zach Copley/Flickr This guide is meant more for those with a lot of bitcoins, as in huge stashes worth a fortune (mostly early adopters), but can also be useful to starters with small stashes (even though they risk less and are far less likely to be targeted). Bitcoin is modern equivalent of cash and, every day, another merchant starts accepting them as payment. We know how they are generated and how a bitcoin transaction works, but how are bitcoins stored? We store fiat cash in a physical wallet, and bitcoin works in a similar way, except it’s normally digital. Bitcoin Paper Wallets A paper wallet is a way to store Bitcoins that involves printing the Bitcoin addresses and private keys directly on a piece of paper. When done properly, paper wallets are one of the safest ways possible to store Bitcoins. Paper Wallet Advantages • Protection from malware and keyloggers. • Maintain 100% ownership of your private keys. You own the coins not a 3rd party service. • No dependence on the security of any website. • Keeping a piece of paper safe is easier than keeping your computer secure. Paper Wallet Disadvantages • The paper contains everything needed to spend the coins and must be kept physically secure. 5 Reasons Why Bitcoin Is An Evolution of Gold by Daniel Mark Harrison on Saturday, October 25th, 2014 7:57pm EDT Leave a comment What happens when we drill down into the value of gold and bitcoin to find the evolutionary link? Is there some kind of Darwinian blockchain at work? You bet! It is often remarked that bitcoin is the gold of the internet, but what does that really mean? What is it about gold that makes it so valuable in first first place, anyway – let alone bitcoin? And so what about bitcoin? What happens when we drill down into the properties of a bit of gold to find the link? Golden Value Gold’s value is derived from a number of core factors, chief of which is its chemical make-up, which results in a property that is both impossible to reproduce synthetically while being aesthetically brilliant and yet, quite ordinary in its alchemy. When you look closely, it becomes as evidently clear as a ton of 99.99% proof bullion itself that bitcoin is a similar commodity – albeit one designed for the digital age. Gold & Bitcoin: Same Story, Different Epoch All the criticisms that bitcoin has levelled against it – that it’s used for shady transactions, that it’s manipulated by a few key power players, that its markets are opaque and shadowy – all apply to gold at various (and in many cases, present-day) stages of the asset’s evolutionary cycle. For the weekend, here are 5 quick reasons why bitcoin is, quite simply, evolutionary AU: 1. Both are completely unique: Bitcoin and gold are both uniquely identifiable. The difference is that gold is identifiable by its chemistry whereas bitcoin is identifiable by its mathematical formula – its virtual chemistry. 2. Both are mined: Bitcoin and gold are mined via a labor-intensive process. The improvement that bitcoin’s mining system makes on gold’s is that it is fully mobile and that it is done via knowledge workers and machines, whereas gold mining is fixed and is done via manual workers and tools. This means that bitcoin miners gravitate towards where energy prices are cheapest, meaning that energy output is more evenly-distributed across the globe. 3. Both are units of energy: Bitcoin is a unit of spent energy vs. gold, which is a unit of potential energy. A unit of spent energy is clearly a more cost-efficient way of representing payments than a unit of potential energy, especially in an economy where energy consumption is growing at an unsustainable rate, since the value has been entirely “spent” in the case of bitcoin prior to its manufacturing economic value. 4. Both are units of economic volume: Bitcoin exists only by reference of its previous transaction (in the blockchain or in a wallet), whereas gold exists by reference of its storage status (in a vault or a safe). What does that mean? Well, in a knowledge economy, transactions – not holdings – are the mechanism by which markets move. As the number of transactions speeds up and multiplies exponentially, so the requirement for detailed analysis of those transactions is increasingly imperative, whereas the need for the display of the core currency itself seems much more like baggage. (Think of the last time you had to move cash between accounts, contending with the banks’ opening hours etc.) 5. Both are social statements: Gold’s end-value is reliant on its core aesthetic component. It’s a status symbol. Believe it or not, that’s exactly what is happening to bitcoin – only in the case of the latter, the commodity is more easily obtainable (broadly distributable). In the old times, it was gold’s physical appearance that was important, since communities were small and local. Today, they are large and widely spread, meaning that solid value is less intrinsic in a knowledge economy than value that can be handily distributed. Indeed, virtual value that has increasingly counted for more over the previous decade – with the invention of the blockchain suddenly came along a way to forge together a unit of virtual value that was unique. There are of course other reasons for the argument that bitcoin is an evolution of gold, monetarily speaking. Can you think of any? Share them in the comments below and we’ll feature the best ones here at CoinSpeaker! What Can You Purchase with Bitcoins? by Siarhei Karotki on Monday, July 21st, 2014 9:50am EDT Leave a comment In this guide we have summarized some of the most important examples of both online and real-world stores who accept bitcoins. Photo: Adam Dachis/Flickr The best way to find bitcoin-accepting merchants is via marketplaces and aggregator sites like UseBitcoins.info that gather large numbers of supporting establishments together at once. CoinMap.org also offers a visual way to locate bitcoin stores in any geographical area, and new businesses are appearing all the time. However, we have summarized some of the more important examples of both online and real-world stores in the guide below. BTCSim simulates the rise of Bitcoin • Alberto Mata • October 26, 2014 • Bitcoin, News Conformal Systems, an open-source software company, is creating BTCSim to answer the question of what would happen if Bitcoin transaction volumes reach those of major credit card companies. The software is under development on github, but BTCSim simulations have already produced results. Maximum Block Size The current maximum block size is 1MB, but the simulations show that the maximum block size that can be processed by a full node running on a single machine is about 32 MB. Maximum Transaction Rate Bitcoin’s main net transaction rate is 0.9 transactions per second (tps), while major credit card companies reach a rate of about 3,000 tps. Conformal Systems tested for the maximum transaction rate that can happen on a full node running on a single machine, and found that the maximum transaction rate for a 32MB block is approximately 270 tps (because a 32 MB block holds about 167,000 transactions and is mined once every 10 minutes). Scaling above 300 tps requires a clustered full node. A full node’s processing efforts are dominated by verifying the Elliptic Curve Digital Signature Algorithm (ECDSA). BTCSim simulations finds that scaling Bitcoin above a 300 tps transaction volume would require a cluster of machines for verification of the ECDSA signature. Lastly, according to the simulation studies, a full node running on a 10 machine cluster can achieve a transaction rate of 2,000+ tps. Some of us would like to see Bitcoin go to the moon, and to get there, the technological challenges must be carefully overcome. The BitSim studies are showing that increasing the block size to reach transaction rates that rival those of major credit card companies could lead to significant centralization of mining power unless computing power grows fast enough to keep up with the growth of Bitcoin. Learn more about BTCSim on the Conformal Systems blog, and check out the BTCSim source code on github. LocalBitcoins now lets you operate your own bitcoin ATM • Nuno Menezes • September 4, 2014 • Bitcoin, Companies, News, Press releases The cryptocurrency ecosystem is constantly developing new and improved accessibility options for digital currencies; Exchanges are trying to go even further while presenting more direct service options. Localbitcoins finds that the demand for effortless and easy exchanging services is becoming increasingly necessary in order to serve a rising number of people and businesses starting to use Bitcoin. People are more interested in Bitcoin, and more shops accept Bitcoin everyday, both offline and online. The usability of Bitcoin is increasing, so more people want to hop the Bitcoin train everyday. Also remittance use is increasing – on LocalBitcoins we have seen volumes in developing countries increasing, along the more developed countries. To complement the lack of more direct contact with its customers, LocalBitcoins has lanched an affordable and robust machine for automation of your Bitcoin exchange business. The LocalBitcoins ATM is unique because it presents a new technology that makes it possible for the ATM to work without internet connection, while the exchanging happens on the LocalBitcoins website. The ATM works as a simple and safe cash-box, much like a cash ATM. This makes the ATM very robust. The ATM has 30-note recycler, which also increases maintainability and makes the process robust. The customers who withdraw can get the same notes that other customers deposit. This makes the operators work easier. The operators has to take care that he has enough Bitcoins to sell, empty the cash box when full, and take care that there are notes in the ATM for customers to withdraw. Local Bitcoin says the ATM is upgradeable, and that it has a team assigned to be constantly working on improving the features of the ATM. Buying and selling rates can be easily changed via admin interface, as well as otherwise the ATM can be easily monitored via web interface. Also historical rates per ATM are viewable via charts.localbitcoins, making it possible to retrieve statistical data. Now LocalBitcoins are looking for businesses interested in setting up their ATM at their stores or even to try different scenarios. In the LocalBitcoins web Blog the company says it has been testing two ATM’s in Helsinki for about four months and they have been functioning well. Development has been going on simultaneously and the company has pretty much dealt with all the minor issues they’ve encountered during the test period. LocalBitcoins believes it has simple, fast and reliable product that end users will surely like. Besides this LocalBitcoins are also betting in providing new services that let customers buy stuff from sites that doesn’t accept bitcoin yet. One of these products is gift cards. The ATM has been handling more than 300 BTC volume with premiums between about 5-8%, and being able to ROI in just a couple of months. This is very good, because Helsinki is a small city and there are also competing ATM’s in the city. As LocalBitcoins believes it has a globally leading position in Bitcoin exchanging platforms, they find working directly with customers to be a compensating solution. The company states that it will be prominently displaying customers ATM’s on the LocalBitcoins. The price is only 1500 euro around $1150 (+ VAT for EU customers). The machine works both ways; it can take and hold 300 bank notes, and give out up to 30 bank notes. It supports numerous currencies all around the world. The operators make the profit on the spread. In the first ATM’s, the premium has been around 5-8%. Customers can also design the look of the ATM making it suited for their specific operation, but also offers help in other technical issues along with supportive marketing materials and needs. There is a fee of 1% per transaction from LocalBitcoins in Bitcoins. The operator can define the buying and selling prices, which are updated automatically operator doesn’t have to worry about Bitcoin price fluctuations. A rising number of exchanges have been promoting the use of bitcoin ATMs. LocalBitcoin is trying to widespread the digital currency, while facilitating businesses and individual entrepreneurs to set up their own bitcoin ATM. • • • • • • • • Bitcoin-Trader Investment Platform Review • Nuno Menezes • September 6, 2014 • Bitcoin, Companies, Mining, News, Reviews, Services, Uncategorized This article will present an overview of Bitcoin-Trader investment opportunities. Bitcoin-Trader is a digital currency investment management company launched at the end of 2013, offering Bitcoin related investments to the general public. In April 2013, the Bitcoin-Trader Team decided to develop a business model of its own. As the result Bitcoin Trader was born, with a clear vision to create a company that revolutionizes the way to earn residual income, with the main focus on sustainability, longevity and outstanding customer support. The company firmly believes in the ingenious technological idea behind Bitcoin and its great future. Bitcoin-Trader commitment in achieving its goal to deliver value to customers across the globe is undeniable. The company currently offers two different investment options to their customers. Based on mining and trading, both of these funds pay out the share profits on a daily basis, and both require the user to lock the “initial capital investment” as “principal of investment” for a fixed period of time (120 days), but both the returns differ between the two funds. It’s advisable to execute an intimate analysis to the ecosystem before picking one of these two options to see what suits you the most. Bitcoin-Trader operates on a Share basis for each investment fund and either of these two funds can be purchased using both fiat money and digital currency. The Platform works with three digital currencies: Bitcoin, Litecoin and Ripple. For Fiat payments or withdraws the company uses Perfect Money, OKPay, PexPay, BTC-e and Payeer. Bitcoin-Trader as fixed a daily exchange rate for digital currencies which applies to both deposits and withdrawals. All the investments funds are denominated in USD, so if the customer deposits a digital currency it will be automatically converted to USD and added to the owner balance. The profits are paid based on the USD balance measured in Shares. The site offers a very good hedging opportunity for Bitcoin holders, but it also carries high risks if the price of Bitcoin rises faster than the value of the fund the initial investment was set upon; but that is a tangible fact of any digital currency investment. Unike the mining Shares, trading shares have other instances; Bitcoin-Trader delivers the trading fund shares at a minimal $20 price each expiring after 120 days. This means that there is no way for the customer to access the $20 USD investment until after the expiration period, but the user can withdraw the daily payments he receive from the fund’s profits at any given time. The Trading investment fund is used to take advantage of arbitrage opportunities between different markets and exchanges. Although arbitrage also carries some amount of risk because the market can move more quickly than we are able to make the second of our two matching trades to complete the arbitrage, it is generally considered to be a relatively low risk trading strategy. The fund tradings are active during regular working hours, so the customer only gets daily payments from Monday to Friday. On the weekends or during bank holidays the fund is frozen or non-active. The Bitcoin-Trader website advertises returns up to 3% per day for their trading fund, which it seems to be a very fair share so the return on investment should be easily achieved. It is expected a daily profit return in between 0.5% and 1%, with an average of around 0.8% which is really good when compared to any kind of traditional investment returns. The Bitcoin-Trader Mining fund invests in mining hardware and generates daily returns for its investors. The minimum investment for the mining fund is somewhat higher than the trading fund, at $100 for one share. Shares in the mining fund last for one year before expiring, and unlike the trading fund you do not get your initial investment back when the share expires. Because mining is more automated and requires less intensive input from human workers, the mining fund pays out every day regardless of weekends and bank holidays. Currently these daily earnings are being advertised on the site as 0.22% per day. The user can convert his\her balance between different payment processors, but significant fees can be applied if this option is selected. If the user deposits USD using PexPay and then use them to purchase shares in a fund, the customer returns will be specifically labelled as PexPay USD returns. If the customer decides to withdraw via Bitcoin or OKPay or some other processor, he will have the cost of an 8% charge to complete the transaction. In relation to the crypto currency ecosystem volatility conditions, we find the trading investment fund to be an excellent option, since the arbitrage conditions of bitcoin trading are quite reliable. The mining investment fund also seems to be one of the best cloud mining options in the market since it really returns the estimated amount. You can find more information, including comparison tables for the two funds, on the Bitcoin-Trader website. You can also follow the company twitter account for daily updates on profits and information about other Bitcoin trading opportunities Nick Tomaino, business development manager at Coinbase: This is not one of those essays that pop up every fall to tell you “business school is good for X reason” or “business school is bad for Y reason.” Deciding to go to business school is a personal decision that makes sense for some people and doesn’t make sense for others. For me, going to business school enabled me to follow my effort, and this piece lays out how following my effort led to my decision to leave school to pursue an opportunity that many might consider foolish. Before heading to business school at Yale, my plan was to find an industry that aligned with my interests, was under the radar and unpopular among my peers. In my opinion, the industries that the majority of top business school students focus on are usually the wrong industries to start a career in. Plus, the competition for most popular jobs is fierce. It’s really easy to fall into the competition trap at business school, but I recognized early that competition is for losers, as drop-out advocate Peter Thiel puts it. I felt that I would be much better off carving a unique niche for myself, rather than going after the golden ticket that everyone else was gunning for. For me, that niche happened to be bitcoin. Bitcoin lies at the intersection of technology, finance and culture. The efficiencies of the technology are extremely powerful and the financial implications are thought provoking, but the cultural implications of bitcoin are most interesting to me. Openness, equality and transparency are some of the core principles of bitcoin. These principles are completely new to the world of finance, and are a big part of why bitcoin is being so rapidly adopted globally. In entrepreneurship, it is more important than ever to be in tune with what is going on culturally (which is one of the reasons more small businesses embrace bitcoin). If you are able to find a segment that is under the radar and misunderstood, but experiencing an accelerating rate of cultural adoption, you should consider diving into it. Shortly after I started business school last fall, I met Brian Armstrong and Fred Ehrsam, the co-founders of Coinbase. After convincing them I could contribute to the company, I began doing some remote work for them from New Haven. A few projects quickly turned into 40+ hours a week of work. Suddenly, I was spending all of my time working on bitcoin — specifically educating merchants about the benefits of bitcoin and thinking strategically about partnerships and new behaviors that bitcoin enables. When I initially spoke to classmates and professors about what I was doing, most dismissed it. But as the year went on, mainstream news coverage and investors like Marc Andreessen legitimized the technology in the minds of many professors and students. Plenty of economists at Yale like Robert Shiller are skeptical of bitcoin’s potential – I believe they haven’t taken the time to understand it — but it became increasingly clear over the course of the year that bitcoin was maturing beyond a niche technology used by tech geeks and crypto-anarchists. I traveled out to San Francisco in May to spend time with the Coinbase team and my decision to leave school ultimately came down to a decision about how I want to spend my time for the next five years. The decision was obvious. Business school allowed me to find an under-the-radar and misunderstood opportunity that I enjoy spending time on, in a segment that is experiencing rapid cultural adoption. That is something every entrepreneur should strive for. Bitcoin yang adalah mata uang dalam tidak ada negara. Dengan Rupiah Indonesia adalah mata uang dalam Indonesia (ID, IDN). Dengan Rupiah Indonesia juga dikenal sebagai Rp. Simbol untuk BTC dapat ditulis BTC. Simbol untuk IDR dapat ditulis Rp. Dengan Rupiah Indonesia dibagi menjadi 100 sen. Nilai tukar untuk Bitcoin yang terakhir diperbaharui pada 25 Oktober 2014 dari coinmarketcap. Nilai tukar untuk dengan Rupiah Indonesia terakhir diperbaharui pada 24 Oktober 2014 dari Dana Moneter Internasional. Itu BTC Faktor konversi memiliki 5 signifikan digit. Itu IDR Faktor konversi memiliki 6 signifikan digit. BTC IDR coinmill 0.0020 8325 0.0050 20,825 0.0100 41,625 0.0200 83,250 0.0500 208,125 0.1000 416,275 0.2000 832,525 0.5000 2,081,325 1.0000 4,162,625 2.0000 8,325,250 5.0000 20,813,150 10.0000 41,626,275 20.0000 83,252,550 50.0000 208,131,375 100.0000 416,262,775 200.0000 832,525,550 500.0000 2,081,313,875 BTC laju 25 Oktober 2014 IDR BTC coinmill 10,000 0.0024 20,000 0.0048 50,000 0.0120 100,000 0.0240 200,000 0.0480 500,000 0.1201 1,000,000 0.2402 2,000,000 0.4805 5,000,000 1.2012 10,000,000 2.4023 20,000,000 4.8047 50,000,000 12.0116 100,000,000 24.0233 200,000,000 48.0466 500,000,000 120.1164 1,000,000,000 240.2329 2,000,000,000 480.4657 IDR laju 24 Oktober 2014 Mencetak grafik agar dapat anda bawa dalam tas atau dompet saat Anda bepergian. Donation bitcoin wallet addres Bitcoin Address 16Qp2UZYXdj28YDyTfVaxPrFZnQcMyseGG
Posted on: Sun, 26 Oct 2014 04:12:44 +0000
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