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Familiar Price Gains, Updated Infrastructure: A Look at the Bitcoin Economy (Part 1)

The recent climb in bitcoin’s exchange rate has driven heavy attention from media and investors. As the second time this has occurred at such scale in 2013 alone, the broader conversation has made a subtle but important shift from simply trying to understand what bitcoin is and where it came from, to what is happening in the space and what the future might hold. Recent growth has been driven not just by speculators, but also entrepreneurs, venture capitalists and bitcoin users that have contributed to remarkable change in the digital currency economy since the last time these types of exchange …

Nov 9, 2013 Posted by Jonathan Stacke In Businesses, Economics, General, News, Regulatory, Trading Tagged investment, price, US, volume Comments 6

Bitcoin Market Notes: FOMC Reaction and Western Union

Amid earnings season and FOMC announcements, financial markets provided a series of important data points yesterday. While bitcoin’s price remained mostly rangebound, its interaction with the broader financial markets illustrated the increasing impact of macroeconomic events on bitcoin markets. Outside of digital currencies specifically, the latest earnings announcement from Western Union highlighted the regulatory difficulties that all US companies tied to money transmission are encountering. FOMC Reaction Bitcoin continues to react to macro stimuli. Yesterday’s FOMC announcement removed negative language from their economic outlook and indicated the Fed would not be immediately tapering asset purchases. Shortly after it was released, …

Oct 31, 2013 Posted by Jonathan Stacke In News Tagged investment, light, price, Western Union Comments 0

Cointerra 500 GH/s Chips, Alydian 10 TH/s Hosting, and IceDrill IPO Set Out To Change Bitcoin Mining Landscape

Considering a bitcoin mining hardware purchase? Make a more informed decision with our Bitcoin Mining Dashboard. As money continues to pour into bitcoin mining investments, this week has seen a series of announcements from new companies offering a broad spectrum of opportunities for market participants. With promises ranging from massive improvements in bitcoin ASIC chip specs to fully managed ASIC farms with profit sharing plans, the bitcoin network may be set to change not only in total speed, but in concentration of hashing power as well. Cointerra announces 28nm chip specs After posting information about their well-credentialed team on their website …

Aug 8, 2013 Posted by Phillip Archer In Businesses, Mining, News Tagged ASIC, investment, Peter Vessenes, price, TH Comments 10

Samsung Lead CPU Architect Bets On Bitcoin Mining

Considering a bitcoin mining hardware purchase? Make a more informed decision with our Bitcoin Mining Dashboard. Samsung Lead CPU Architect To Head Cointerra Cointerra recently announced their entrance into ASIC bitcoin mining with 28nm chips. Application specific integrated circuits (ASIC) are customized components that perform the calculations necessary for bitcoin mining. The team is lead by Ravi Iyengar, previously the Lead CPU Architect at Samsung where he helped design chips for compact mobile devices such as the Galaxy S4. Iyengar has also previously worked at industry giants Qualcomm and NVIDIA. He is joined by Chief Architect Dr. David Tannenbaum, a principal engineer at NVIDIA, and VP …

Aug 5, 2013 Posted by Jeff Schvey In Businesses, Featured, Mining, News Tagged analysis, ASIC, Avalon, CNBC, investment, Joe Lewis, market cap, NVIDIA, Phoenix Fund, TSM, WSJ Comments 5

Hedging Bitcoin Mining Investments with Network Difficulty Futures: Part 1 – Hedging Shipment Delay

This is the first of a multi-part series describing how a more sophisticated derivatives market could affect the risk/reward of bitcoin mining. This piece will analyze how schedule risk can be hedged for pre-orders, later additions to the series will examine how miners can provide themselves with additional revenue. For detailed information about available mining equipment, please see our Mining Dashboard. Bitcoin mining is an integral aspect of the broader bitcoin infrastructure, since it supports the security of the entire network. While the incentives set up to reward miners who provide computing power are well-intentioned and would work well in …

Aug 1, 2013 Posted by Jonathan Stacke In Mining, Trading Tagged investment, Mining Dashboard, price, ROI Comments 9

Venture Capitalists Offer Their View On Bitcoin’s Growth Potential and Social Impact

The first panel discussion at today’s Inside Bitcoin conference featured an array of investors from both the digital currency space and more established financial institutions. In addition to offering insight into what they look for in potential investments, they were also given an opportunity to opine on why bitcoin has immense potential for positive social impact. The panelists included: Thompson Clark – Editor, Agora Financial Tuur Demeester – Author, MacroTrends Pamir Gelenbe – Venture Partner, Hummingbird VC Abelardo Mendez – Director, Knight Capital Group Brock Pierce – Executive Chairman, Playsino Drew Little – Founder, The Illuminated Ventures Project (moderator) What …

Jul 30, 2013 Posted by Jonathan Stacke In Businesses, Economics, News Tagged Abelardo Mendez Director, fiat, investment, Thompson Clark Editor, Tuur Demeester, Tuur Demeester Author Comments 1

SEC Charges Operator of Bitcoin Savings and Trust with Fraud

Today, the SEC charged Trendon Shavers of McKinney, Texas, known to many in the bitcoin community as “pirateat40″ with defrauding investors in a Ponzi scheme known as the Bitcoin Savings and Trust. The SEC also issued an investor alert titled, “Ponzi Schemes Using Virtual Currencies.” The Bitcoin Savings and Trust, an infamous fraud in the bitcoin community, was suspected of being a Ponzi scheme long before its final closure. By limiting initial investments, promising 3,300% annualized interest and establishing trust over a long period of time on the bitcointalk forums, Shavers was able to con more than 700,000 BTC from …

Jul 23, 2013 Posted by Jonathan Stacke In Businesses, News, Regulatory, Security, Trading Tagged investment, SEC, Securities Act, Trendon Shavers Comments 3

TGB Launches Bitcoin Mining Dashboard

The Genesis Block is proud to announce the launch of the latest addition to our set of free tools available for public use: the Bitcoin Mining Dashboard. The purpose of this tool is to help members of the bitcoin community solve a common problem: selecting a mining hardware investment. The new Bitcoin Mining Dashboard gathers otherwise disparate information from around the web and consolidates it for easy comparison. Also included is a calculator to easily view your potential return for each hardware option, displayed in a monthly payout schedule. Market and hardware parameters The info for the current mining hardware …

Jul 18, 2013 Posted by Jeff Schvey In Featured, Mining, News Tagged Additional Resources, Bitcoin Mining Dashboard, investment, Mining Payout Schedule Comments 23

A Bitcoin ETF Is A Vital Step Towards Market Maturity

Notable bitcoin investors Tyler and Cameron Winklevoss made headlines last week when they filed an initial registration for a bitcoin ETF. Each of the one million initial shares would represent 0.2 BTC, or a total of approximately $15 million of net asset value at current BTC exchange rates. The planned ETF has been the subject of heavy criticism since the filing, but nearly all of the objections have been related to investing in bitcoin as an asset class, rather than the new instrument introduced by the Winklevoss Bitcoin Trust. Upon deeper analysis, it’s clear that a financial product like the …

Jul 9, 2013 Posted by Jonathan Stacke In Businesses, Economics, Featured, News, Regulatory, Trading Tagged Bitcoin Network, ETF, investment, Logistical Questions Remain, Technical Concerns Mitigated Comments 3

Electronic Frontiers Foundation (EFF) Now Accepts Bitcoin

The EFF just announced that it will accept bitcoin as a donation option. This decision shows just how how significant the latest FinCEN guidance was. It provided sufficient clarity that anyone accepting the virtual currency will not be subject to regulations unless they are acting as a currency exchanger. The EFF is a donor-funded organization that describes itself as: When our freedoms in the networked world come under attack, the Electronic Frontier Foundation (EFF) is the first line of defense. EFF broke new ground when it was founded in 1990—well before the Internet was on most people’s radar—and continues to confront …

May 17, 2013 Posted by Phillip Archer In Businesses, News Tagged Bitcoin, EFF, investment, legal, Stamp Payments Act Comments 3