Review Category : General

 
 

TGB 3Q Review & 4Q Outlook Now Available

The third quarter of 2013 proved to be one of significant transition for bitcoin. After the remarkable increase in bitcoin’s price and public notoriety earlier this year, the last three months have provided a much-needed regrouping period. New information about issues at existing exchanges became available and dozens more have or will soon come online. Security of the bitcoin network grew dramatically as ASICs increased the network speed exponentially, while a host of new entrepreneurs and investors continue to support the market with ever-increasing infrastructure. The result will be a more structurally sound ecosystem as bitcoin enters its next wave …

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[Op Ed] Lawmakers Could Learn A Lot From Software Developers

The United States is built on the foundation set by the Constitution and Bill of Rights – a combined fourteen pages of text if put into a modern word document. Now, 225 years later, the Code of Laws of the United States is more than 200,000 printed pages of additions by generations of lawmakers – and that only accounts for federal law, not state and local. Unfortunately, just like with software, if lines of code are added while the architectural organization degrades, an ever-increasing amount of time and resources will be required to make the system function. Good developers will …

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Argentina’s Share of Global Bitcoin Downloads Triples in July Amid Inflation and Capital Controls

The rate of global bitcoin adoption has slowed dramatically since peaking in April, but a number of standout locales are bucking the trend and seeing surges of enthusiasm. We noted China’s massive increase in adoption early last month, but a new outlier has since arisen: Argentina. Between June and July, the South American nation’s share of global bitcoin downloads more than doubled from just over 1% to nearly 3%. In fact, of the countries ranking in the top 50 most bitcoin client downloads in June, Argentina is the only one to increase its rate of download so far this month. …

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TGB Launches Bitcoin Market Dashboard

The Genesis Block is proud to announce the launch of the Bitcoin Market Dashboard, the first in a series of free tools we’re developing for the bitcoin community. Our team was looking for a single reference we could leave open to stay fully updated on the market. Since nothing available fit our needs, we built the Market Dashboard and are more than happy to share it with the world. A brief feature overview is below. Live and Historical Data As our readers know by now, understanding the bitcoin market requires far more than the latest exchange rate. To help you gain …

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New EU Deal Puts Creditors And Depositors In Failing Banks At Risk

Finance ministers from the European Union reached an agreement early this morning regarding terms for failing banks in the euro region. The new rules are intended to shield taxpayers, who have extended approximately €1.6 trillion in support since the 2008 financial crisis, from saddling the cost of bank bailouts, shifting liability instead to creditors and depositors. Under the new rules, beginning in 2018, shareholders would assume losses before unsecured creditors and depositors, with exemptions for insured deposits less than €100,000, as well as select individuals and small companies. A Familiar Precedent When depositors in Cyprus faced levies up to 10% …

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US Reaches 1 Million Bitcoin Downloads, Chinese Interest Fades Dramatically

At the end of last month, we noticed remarkable growth in data points surrounding bitcoin adoption in China. During May, China was the only country among the top 10 for most bitcoin client downloads of all time to see month-over-month download growth, taking the top spot for the May. Moreover, CNY as a percentage of total BTC exchange volume more than tripled since the beginning of 2013. Just a few weeks earlier we noted that China was almost dead even with the US for total nodes connected to the bitcoin network. That growth trend tempered quickly in June. Chinese Download Volume …

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Turbulence at Mt. Gox Creates Arbitrage Opportunities For Bitcoin Traders

Towards the end of last week something seemingly unexpected happened in the bitcoin market – the price of BTC rose on unquestionably bad news. After Mt. Gox announced a temporary halt on USD withdrawals, the price of BTC on Gox climbed approximately 5% in a matter of hours. While this may seem like an odd reaction at first, further investigation shows that this is actually a highly consistent and predictable occurrence. The rate change on Mt. Gox, the long-time leader in bitcoin exchange volume, was actually an anomaly. In comparing the price of BTC on Gox with the price other …

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Want To Know Where BTC Prices Are Going? Watch USD

As the bitcoin market continues to mature, with more players entering and liquidity growing to support broader uses, the world’s favorite cryptocurrency is beginning to reflect movements of the USD with an astoundingly high correlation. Bitcoin, a new entrant to the forex world, is just beginning to find its place among the world of alternative assets. Many assume that bitcoin, as a decentralized, non-state issued currency, would gain value as inflationary pressures on traditional currencies increase. If that were the case, it would more closely follow existing inflation hedges, most notably gold, but that has not been the case. As …

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Mt Gox Halts Run on USD as Market Share Falls to New Low

Today, Mt Gox announced they are suspending USD withdrawals for at least two weeks. This suspension was caused by a high volume of USD withdrawals from Mt. Gox’s bank accounts, with the company citing difficulty for their bank in processing transactions “smoothly.” This news comes one month after the announcement that the US Government seized their Dwolla bank accounts for failing to register as a Money Service Business (MSB). Two weeks ago OKPay, a long time partner of Mt. Gox wire transfers, suspended all operations with bitcoin customers. There will likely be two effects from this action: a temporary rise in …

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JPY Only Currency With BTC Trading Volume Increase In June Amid BoJ Policy Concerns

After bitcoin gained immense attention in March and April of this year global trading volume spiked alongside BTC exchange rates, before both subsequently fell and eventually leveled off. Different regions of the globe have adopted bitcoin at their own pace, but lately we’ve seen a reemergence of interest from bitcoin’s supposed birthplace: Japan. Despite being the suspected home of bitcoin’s founder and the world’s preeminent bitcoin exchange, Japan ranks 38th in total bitcoin client downloads while JPY has averaged just 0.6% of global bitcoin trading volume over the past 18 months. Concurrently, Japan’s government has built one of the highest …

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