Although the days of personal mining are over, there is still plenty of news to cover when it comes to the larger operators in the bitcoin mining industry. Let’s take a look at some of the most important stories in bitcoin mining from the past few weeks.
The elusive mythical bull and the hunt for a new ATH! This past week was exciting and turned out to be in a rally that is fun to watch and scrap some healthy profits! Depending on what price you got in – $275 bottom, $316 bottom, $333 level, $366 range $380 – there was a ton of chance to earn a fortune ☺
Although trading is not easy, it’s not usually a run of bad trades that leads to a trader having a losing portfolio on a yearly basis. Making the right picks in the market is a key aspect to turning a profit over the long term, but proper money management is also a big part of the game. If you’re not able to manage your cash correctly, you could end up with one mistake costing you an entire year of progress. By managing your funds properly, you can ensure that your smart trades bring you some profits.
If you’ve recently received your first bitcoins, then you’re probably wondering what you can do with this new form of digital money. While you may think that there are limits on what you can expect to purchase with your bitcoins, the reality is that you can basically use your newly acquired cryptocurrency in the same way as normal fiat currency. In fact, there are many things you can do with bitcoin that you simply cannot do with regular government-issued currency. These exotic use cases are what gives bitcoin its underlying value. Let’s take a look at some of the best applications for your new bitcoins.
As any day trader will tell you, whether you’re trading stocks or cryptocurrencies, there is risk involved. Meticulous management of this risk is how day traders are able to profit on a consistent basis, and while all traders have their own preferred strategies for trading and managing risks, there are a few basics that should always be kept in mind.
A recap of the past two weeks. The market has still been within a bear – now almost a year of a bear market. The best hope for a run up came when a bottom capitulation of $275 marked a floor followed by a rise to a high of $417.7. Until the latter is tested and broken, it is safe to say we are still in a bear market.
Bitcoin safety is considered to be one of the most urgent and highly discussed topics within the Bitcoin community. Any Bitcoin owner should know how to keep the digital funds safe, similar to the way we keep our regular wallets protected from pickpockets and thieves. There are some tips/precautions that one can take in order not to lose Bitcoins.
There never seems to be a dull week in the world of bitcoin mining. Over the past few weeks, we’ve seen a preview of our cyberpunk future in the form of a bitcoin mining meltdown, Gavin Andresen gives his thoughts on bitcoin mining centralization and a new piece of disruptive mining hardware from two brothers. Let’s take a closer look at the three biggest stories in bitcoin mining right now.
When you look at a chart you may see certain patterns emerge (or at least appear to emerge) and sometimes these patterns can indicate the potential direction of future pricing for the market you are looking at. In essence this is a part of technical analysis. Technical analysis “is the study of market action, primarily through the use of charts, for the purpose of forecasting future price trends.
A new paper released by a company called Blockstream could have the potential to solve many of the issues that are facing the bitcoin protocol today. Some has stated that Blockstream could become the Red Hat of the bitcoin ecosystem, and their current focus is to create a working implementation of a concept known as sidechains.
A recap of last week indicates that not much market movement has occurred. The price last week was in a sideways pattern consolidation and this week, this trend continued. Not much changed despite a breakdown to new 2 week lows of $316. Besides this, the expectations of last week continue.
Bitcoin, one of the most volatile cryptocurrencies, has taken the world by storm while bringing together developers and innovators in the fields of IT, finance, entrepreneurship, and retail from all over the world. Together, these specialists work hard to advance Bitcoin-related activities, including mining, trading, spending, and storing. Bitcoin has a lot of potential and, for this reason, financial experts often compare Bitcoin mining and trading to “the gold rush” of the XXI century.
Although this isn’t an exclusive bitcoin trading strategy, buying any sort of stock, commodity or other asset, when the market seems to be at a level of ultimate despair, can sometimes turn into the perfect trade.
Of course, there are times when the negative view on an asset is warranted, but buying at all-time lows when everyone else believes the bull market is over can sometimes turn into a smart strategy. Sure, if you believe that there are brighter days ahead.
CEX.IO is proud to become one of the top exchanges to allow trading Darkcoin on its platform. We couldn’t but pay attention to this extraordinary altcoin within constant analysis of the crypto industry and the habit of staying up-to-date.
Bitcoin mining was one of the first new industries to rise up out of the invention of cryptocurrency, and there never seems to be a dull day in this new market. With plenty of scandals and fraudsters in the industry, most of the stories seem to focus on how purchasing bitcoin mining hardware usually turns into a poor investment. Having said that, there are still some bright spots in the industry, and that’s where we’ve kept our focus for this week’s review of all the latest mining news.
Bitcoin gambling is considered to be one of the most secure ways of playing online. Such beneficial features as low stakes, instant deposits and withdrawals, as well as security and anonymity, make it very appealing for online players. Deposits and withdrawals from traditional casinos usually take weeks, making the players restlessly anticipate the earnings. For the reasons mentioned above, Bitcoin has become a perfect solution for online casinos, making the gambling experience much quicker and less complicated in comparison to the traditional betting.
The Bitcoin ecosystem has seen a significant advancement over the last three months. For example, with the increase in the number of wallets (21%) and sums of investments (41%), the overall Bitcoin market capitalization has grown by 59% and reached $8.3 billion.
Although support for Bitcoin is probably higher now than it has ever been, many enthusiasts and investors alike are all too aware of its potential problem in sustainability. As anyone who has personally attempted to mine knows, it is extremely energy-consuming and, at this point, almost impossible to produce enough to pay for the energy costs and still make a profit without a decent-sized mining farm. In addition to its sustainability issue, the Bitcoin wallet is a bit lacking in features that many newer altcoins have integrated.
Maintenance cost for cloud-based GHS purchased on CEX.IO will not be calculated for the period between 10 p.m. GMT on October 30th and 6 a.m. GMT on October 31st. following the downtime that occurred on past weekends. The company apologises for any inconveniences that the downtime may have caused you and, therefore, offers you a slight compensation — reduction of monthly maintenance fees.
All transactions on the bitcoin network are not created equally. A coinbase transaction is a unique type of bitcoin transaction that can only be created by a miner. This type of transaction has no inputs, and there is one created with each new block that is mined on the network. In other words, this is the transaction that rewards a miner with the block reward for their work. Any transaction fees collected by the miner are also sent in this transaction.
Reddit is a weird place. It is the main source of the Internet talk, news and a good laugh. Yes, reddit has it all. What bubbles to the top on one day, may easily be forgotten on another. Here is the list of four posts on /r/bitcoin that were recently discussed.
As part of a disciplined approach to trading it is vitally important to keep a diary and track your trading activities. It is especially true for novice or new traders, but equally for a trader of experience.
Although there haven’t been any huge announcements for new Bitcoin mining hardware lately, there’s still been plenty of Bitcoin mining-related news that has come out recently. The first-ever Bitcoin conference that focused on mining above everything else took place in Las Vegas, and Butterfly Labs is still trying to figure out how to keep operating while they are under investigation. Let’s take a look at the biggest news stories in Bitcoin mining from the past few weeks.
Bitcoin enthusiasts are always looking for new places to spend high-tech currency, and it seems to get easier every day. While there is no shortage of companies accepting digital currency in the United States, there are certainly a few places that stand out. Boston, San Francisco, New York, Miami, and Las Vegas all have active communities that regularly meet, discuss, and support the Bitcoin technology. Here are few places worth visiting:
Crowdfunding is quickly becoming one of Bitcoin’s “killer apps”, but it’s easy to get confused when there are so many different crowdfunding platforms available in the cryptocurrency ecosystem. One of the main value propositions of Bitcoin is that it cuts out the middlemen, and there are few different projects, looking to bring that concept to the crowdfunding space. In the future, it’s possible that supporters will be able to connect directly with campaign creators rather than going through a centralised third party. Let’s take a look at some of the innovations in crowdfunding related to Bitcoin to see which option could go mainstream in the near future.
The past two weeks have been approaching a bottoming out of the bear from the $650 highs of July. We saw a bottom confirmed by a clear hammer at the lows of $275. Since then, it has been a bull climb from these lows in the past and has played out as we covered last week. The bitcoin price made a breakout from a triangle that formed sideways.
Success on a super grandmaster level in modern chess requires much effort, computer support, a little bit of luck and submitting a proof of this work to other people who would also like to claim for a reward. In other words, it is very much like Bitcoin mining.
A Polish company, InPay S.A., is the first in the world whose shares are available for purchase in public offering using the digital currency Bitcoin. The sale has just launched on the equity crowdfunding site Beesfund.com.
24xbtc.com is a Ukrainian-based company that focuses its activity on e-Commerce, investments, finance, banking, and cryptocurrencies on the Eastern European market. The company has the 4-year experience of working in different countries around the world, being committed to efficiency, competence, stability and professional customer service.
As any innovative phenomenon, Bitcoin has numerous supporters and skeptics, and that’s fine. When people are not familiar with the concept, they ask a lot of questions. In general, all the questions are important and require thorough responses. Some of these questions are complex and technical, some are more philosophical and ideological, some financial and economic, whereas others are simply monotonous and annoying.
CEX.IO continues improving its services. The latest move in this direction is introduction of a new payment instrument, SEPA (Single Euro Payments Area). We aimed to simplify financial transactions in Euro on CEX.IO and make deposits and withdrawals for EU users even easier.
One of the main Bitcoin memes that has popped up rather frequently over the past two years is the idea that the incentives related to Bitcoin mining are not structured properly. Securing the blockchain is the work that miners are paid for through the issuance of new bitcoins, and the incentives are supposed to be structured in a way that does not give one mining entity too much power. In a situation where a single miner or a mining pool controls a large percentage of the network hashrate, it actually becomes possible for that mining entity to cause some trouble when it comes to clearing transactions. The act of bookkeeping is what was decentralized by Bitcoin, so it’s vital for that feature to remain at the core of Bitcoin’s functionality.
Fred Mazo is by far one of the most vibrant Bitcoin enthusiasts with a true passion to cryptocurrency and decentralized networks. Fred spends a great deal of his time promoting Bitcoin in the UK, being a working member of The United Kingdom Digital Currency Association (UKDCA). Moreover, Fred has an ambitious move to involve Spanish-speaking community. He agreed to answer a few of my questions and here’s how it went:
Last week ended with a hammer candlestick on the daily signaling a bottom that was quickly followed by a confirmation green candle. When using technical analysis for following market patterns, it is important to consider several technical signals to assert a similar pattern change, e.g., reversal signal.
Committed to Bitcoin community around the globe, we strive to make our service even better. So we’ve launched a free translation project and now kindly ask all our friends and peers to join it and help us to translate our website.
Many people like to claim that bitcoins are worthless and that they couldn’t possibly have any value because they aren’t backed up by anything tangible. The easiest way to dismiss this myth is to take a look at the state of fiat currency in the world today. There isn’t any gold or other commodity backing up the US dollar or euro, and people seem to value these currencies quite highly. In other words, it’s possible for bitcoins to have value if people decide that they want to use them. So do bitcoins have any actual value or is this just one big ponzi scheme?
In public-key cryptography, a hash value is used as a summary of the initial input number. A hashing algorithm is applied to the original input number to create that hash value. The point of a hash value is that it is theoretically impossible to find the original input number without knowing the hashing algorithm used to create the eventual hash.
Traders who are familiar with the CEX.IO platform may have noticed some changes with the main trading page in recent weeks. There is now a variety of new features with the trading page, and the layout of the page has been optimized for simplicity and ease-of-use. The trade page is now best described in three different sections. Let’s take a look at what’s available to the trader when first looking at the trade page:
When analysing Bitcoin market price, the miners’ revenue and the mining difficulty, certain consistent patterns become quite evident. Miners revenue flow highly resembles the development of the market price, indicating that the market price significantly depends on the miners’ rewards. The higher the reward, the higher the price. For example, the peak of the BTC price in December 2013 corresponds with the elevation of the miner’s revenue within the same period. Although the miners revenue echoes with the overall features of the market price, the first one is much more volatile, whereas the market price shows more stability and does not demonstrate such drastic and frequent change.
With the holidays approaching quickly, many Bitcoin supporters may be attempting to complete their holiday shopping using only Bitcoin. Fortunately, there are many companies that now accept Bitcoin, which should make holiday shopping for supporters of the digital currency even easier than a walk in the park. Here is a short-list of few ideas.
For those who are new to trading Bitcoin and other various cryptocurrencies, starting off can be quite difficult due to the complications of understanding markets and general trading. Hopefully with the advices presented below you will get a rough idea of how to get started and start earning some Bitcoins!
Public key cryptography, also known as asymmetric cryptography, is a type of cryptographic algorithms that operate with the help of two separate keys — private and public keys. These two are different, but at the same time they are mathematically related to one another. The keys have unrelated functional properties — the public key is used to encrypt plaintext or to verify a digital signature, whereas the private key’s main purpose lies in decrypting cipher-text or in creating a digital signature. The term ‘asymmetric’ identifies the oppositeness of these functions in contrast to ‘symmetric’ cryptography, where one key is used to perform both functions.
Last week, the Bitcoin market price was largely bearish despite an abrupt reversal based on news from PayPal. Since then, it has continued to decline even breaking its past stable range of between $390-412.
As anticipated, the bears continued to drag the price lower managing to break the $390 support range into the $360 range. Looking at the overall market since the ATH, it has been a downtrend with opportune bull reversals at specific points. Depending on your trading style, these points are easy profits for timed entries and exits on the long. A reversal from a low $365 reversed to $390 was a 6% profit opportunity, before the price resumed its trend down.
The Polish Bitcoin Embassy organised a meetup which took place in Warsaw, Poland on October 2, 2014. About twenty Bitcoin enthusiasts, mostly entrepreneurs and programmers, listened to presentations and shared experience.
Many of you may wonder about the currency distribution within the Bitcoin ecosystem. In order to answer this question we should analyse statistical data and compare the distribution rate of various fiat currencies. Currently, there are two different resources available for our research — bitcoinity.org and coinometrics.com — both equally reputable and trustworthy. Even though these websites do their best to provide the crypto-community with up-to-date information, in this case we see that their stats are very different.
The last few weeks have been rather active when it comes to Bitcoin mining news, and one company in the Bitcoin mining industry has been shutdown by the FTC in the United States. Although much of the news in the Bitcoin mining hardware industry has been negative over the past few years, there are still some companies out there doing good, honest work. Let’s take a look at some of the latest news stories in Bitcoin mining.
While most Bitcoin enthusiasts are aware of being able to spend their Bitcoins on electronics, furniture, or clothes at sites like tigerdirect.com, newegg.com, and overstock.com, there are quite a few other companies offering some more unusual products and services for the digital currency. From online dating to Church donations and even paying for oddly flavored candy or plastic surgery, there is sure to be a place where you can spend your Bitcoins to get something you’ve been looking for.
Bitcoin payment service providers (PSP) enable customers and merchants to buy easily and sell goods over the internet using Bitcoins. Bitpay, one of the leading Bitcoin payment service providers, is the main processor for many leading industries such as Newegg, Shopify, and Gyft. Before checkout, most websites normally have a sign that reads “Bitcoins Accepted Here.” If customers choose the option to pay for their goods in Bitcoins then, more often than not, they a PSP such as Bitpay or Coinbase. Merchants also have the option to accept Bitcoin payments on their own using applications such as multibit if they choose not to have any third party involvement.
In this week, 23rd – 30th September, Bitcoin maintained a bearish trend consistent since its May $600-$700 price range. On the bigger picture, the price has been heading lower since the ATH. Shrewd bulls have been quick to capitalize on expectations of new ATH despite the decline in prices. By entering the market at bounces or expected reversals.
GHash.IO gives miners the possibility to choose from the widest variety of mining options available on the cryptomarket, including cloud mining, hardware mining, merged mining, MultiPool Pro, and trading on CEX.IO. Each option has specific characteristics as well as technical and financial features. The table located on the GHash.IO’s main page gives the miners the opportunity to analyse the benefits of each mining option in relation to the variety of the cryptocurrencies that can be mined on GHash.IO.
For us, true Bitcoin fanatics, explaining Bitcoin to the friends can be challenging and often as effective as talking to a wall. Here are 5 ways that could help you thrive if you are looking to turn your fellows to Bitcoin lovers:
We are proud to announce adding Euro support to CEX.IO Bitcoin Crypto Exchange. With the new pairs, traders will be able to buy and sell Bitcoin, Litecoin and Dogecoin for Euro. It is the second fiat currency for CEX.IO following the release of USD, which has been officially open for trading on September 23.
As altcoin exchanges constantly add new currencies, it is important to watch for prominent new coins being developed. The extremely energy intensive mining processes for bitcoin and litecoin are becoming more difficult to sustain and may one day have to be replaced by one of these newer, more environmentally-friendly currencies.
With more and more businesses and organisations accepting Bitcoin every day, there is sure to be an interest in using Bitcoin to pay for education. While Bitcoin acceptance still has much progress to be made, especially in schools and universities, there are a few places where students who wish to further their education and pay their tuitions with the digital currency.
Over the past few months, merged mining has become a rather hot topic of conversation. Dogecoin can now be merge mined with Litecoin, and merged mining is also at the core of the sidechains proposal for Bitcoin currently under production from Adam Back and Austin Hill. Namecoin was one of the first major cryptocurrencies to benefit from merged mining, but many people are still confused as to what it is and how it works. Let’s take a closer look at merged mining by using Dogecoin and Litecoin as an example of how it all works.
The effective management of risk is a key component to any trading strategy. If you approach any market without having included strategies to address risk and loss, then the most likely outcome will be uncontrolled loss. Risk management is your survival tool.
Position Sizing (the calculation of the value of your trade) enables you to implement risk control aligned to your tolerance of loss (we all have a different level of tolerance), your available trading capital and the trading style you are using. It also enables you to compare potential trade loss relative to gains as you can calculate your outcomes to your exits.
Bitcoin mining involves consumption of an excessive amount of electricity and the necessity of constant hardware supervision. Both, mining with personal hardware and Cloud mining, are subject to the maintenance cost.
Cloud mining, which is rapidly gaining popularity, is considered to be one of the most profitable ways of crypto-mining, and in this case the maintenance fee is distributed among the miners according to their share of the mining power.
While there are many talks regarding the future of cryptocurrency and latest digital technologies upcoming, the Bitcoin community is instantly growing. Still, there are lots of those who literally keep calm and are totally unaware when it goes to all the numerous opportunities the cryptocurrency offers. Here is the short-list of reasons to fall in love with it:
What comes to mind when you think about Scotland? Is it the image of kilt-clad highlander belting out haunting laments from his bagpipe? Or is it Glencoe with its majestic rugged mountains? In many ways, there is about something for everyone in Scotland.
As I write this, Scotland has voted nay, and chosen to stay. Listening to the Prime Minister’s statement on the result of the plebiscite, one gets the feeling that a rubicon has been crossed. “Our United Kingdom” will not be the same again. What Scotland wanted, England, Wales and Northern Ireland might also get, in the new era of Devomax. It is difficult to predict where the road goes from here, but we can expect that each of the constituent nations of the UK might to assert their identities much more than has been seen before. Will the model follow Scottish lines with first ministers for England, Wales and Northern Ireland? As Westminster and Holyrood debate about what to cede and concede politically, a window of opportunity to try new things has been opened up in the UK. One of those new things is the use of Bitcoin.
September 15, 2014, Jeffrey Smith, CIO of CEX.IO presented our brand new service called Plugchain — an open API created for building smart crypto applications. Official presentation was held at the afterparty within Inside Bitcoins London conference.
After World War I Great Depression and inflation in Germany brought the world economy into a crisis. Rise of Fascism and the war that followed, allowed a new system to come in order.
Bretton Woods Agreement created a “gold standard”. With the new system, many countries fixed their exchange rates relative to the U.S. dollar, and central banks could exchange their funds into gold at the official exchange rate of $35 per ounce; this option was not available to firms or individuals. All currencies pegged to the dollar had a fixed value in terms of gold.
In a constant search for solutions allowing to make transactions with Bitcoin easy and quick, Bitcoin startups are emerging unbelievably fast. One of them, Bitok.com, a new cryptocurrency market exchange, is on our Bitcoin startups category today.
Cex.io is a cloud mining provider, which contributes to the Bitcoin network with hashing power. Participants are rewarded with shares of the block rewards and transaction fees. A share is your percentage of the overall hashing power, so when a block is found by your cloud mining hashing power you receive mining payouts equivalent to your share of the overall hashing power.
If for any reason you fail to receive shares for your hashing power or the service suffers downtime we reward you with additional shares proportional to the downtime to compensate for the disruption in service.
In Los Angeles, the bitcoin community is strong – more new places have started to accept bitcoins. You can pay with bitcoins at bars, restaurants, hair salons, and even for jiu-jitsu lessons. So here are few places in LA where you can spend bitcoins.
A cryptographically hash function is a special kind of hash function where it is practically impossible to recreate the input data on which the hash value is based. These types of hash functions are particular important in the world of cryptographic signatures. The hash functions can be used to sign documents, contracts, messages, transactions, and anything else digitally over the Internet. With these systems, it’s easy to find out the public key of the signer, but the private key is not exposed.
CEX.IO decided to interview our users – Bitcoin early adopters and newbies all over the world. Given that, we asked Seccour (a nickname), a Dubai Bitcoiner how it started, is there any places accepting Bitcoins and whether many people use Bitcoin in UAE.
Have you ever heard about “whales” in the cryptocurrency market? The big money Bitcoin players supposedly have almost mythical powers of moving the price up or down at any time. Moreover, they are often used as an excuse for losing money on the market.
Unlike whales, bots are not mentioned as much. In fact, most people are not aware of bots, or at least know about them partially. There seems to be a low interest to automated trade programs that enable gaining a profit. Really? Free money?
At the rise of Internet, users mostly consumed information than created content. In 1999, the whole picture changed while a new concept of Web 2.0 evolved. From this point, a global community stepped in and contributed to generating content. Wikipedia, the world’s largest encyclopedia in history, which “compiles the sum of all human knowledge” is a good example of a co-created and crowd-sourced effort.
Early days of Bitcoin seem to resonate with the early ones of Internet. Given that users can spend and trade Bitcoins, development of additional services is somewhat limited. While there is no infrastructure for users to create content on their own, they are mostly uninvolved or simply react to the changes in prices. What is necessary is a sort of decentralization, which happened to Web 2.0.
There are plenty of people out there who are upset at the amount of computing power and electricity that is currently going into Bitcoin mining, and these people would likely be even more upset after learning about the intricacies of orphaned blocks. Although the first person to find a particular block’s hash is the individual who gets to take home the block reward and have their proof of work placed in the blockchain forever, the reality is that these blocks are sometimes found at nearly the same time by multiple parties. There can be only one winner in the lottery known as Bitcoin mining, so one of these winners will find out that they will not actually receive a block reward if their new entry into the blockchain was not used by the next block’s miner.
When analysing the development of Bitcoin and Litecoin mining, it is crucial to examine the interest in the mining process over time. According to the graph taken from Google Trends, timespan October 2013 to September 2014, we can observe a significant peak in December 2013 — January 2014 in the fairly stable interest rate of cryptocurrency mining. This peak was caused by Bitcoin’s acceptance by several major mainstream companies (i.e. Overstock), major investment in Bitcoin startups (i.e. Coinbase), increasing coverage of Bitcoin-related news (Wall Street analysts) that cause the increase of Bitcoin price — $1,200 per Bitcoin. In addition, we can see quite evident correlation between the interest in Bitcoin mining and Litecoin mining, which remains constantly proportional.
This week has been stable for the most part of Bitcoin markets. When compared to weeks before, Bitcoin price stayed in a range and varied from 470 USD to 500 USD. Some positive things happened, such as Paypal announcement and Apple presentation, though there is no information released yet to give an insight to detailed plans of these companies.
Jeff Klee, CEO and owner of CheapAir.com, announced on September 3, 2014 that they would not only accept Bitcoin, but also Litecoin and Dogecoin as a method of payment. Proving to be a highly innovative company CheapAir started accepting Bitcoins in November 2013 for booking flights and later, on February 2014, for booking hotels. Now with the company’s recent expansion into other crypto currencies it seems that CheapAir is making a name in the Bitcoin economy.
Bitcoin scene in Berlin unites developers, start-uppers and crypto dreamers. More and more people are coming to launch projects there. Levin Keller, founder of Bitcoinage.de and a member of newly created Bitcoin Center Berlin, is one of them. He is also a member of German Bitcoin lobby group.
CEX.IO talked to Levin to figure out a legal perspective of Bitcoin, the way the Bitcoin community can develop in Germany and, of course, reasons that made Levin come to Berlin.
The Polish Bitcoin Embassy held a FIFA 14 tournament, the first informal championship between Bitcoin enthusiasts, which took place on August 27, 2014. Entry fees for the participants charged in Bitcoin (0.02 BTC per person) were spent on winning prizes (cups). A tough tournament between twelve participants started at noon of Wednesday. The players draw their teams from a selected pool. It turned out that better teams were not easy to defeat, and the outcome of each game was based on players’ skills. Footballers’ parameters did not matter.
On August 28, 2014, Bitcoin world lost one of its earliest pioneers, Hal Finney, at the age of 58. Finney was one of the developer of Bitcoin project and the recipient of the first bitcoin transaction.
“I mined block 70-something, and I was the recipient of the first bitcoin transaction, when Satoshi sent ten coins to me as a test. I carried on an email conversation with Satoshi over the next few days, mostly me reporting bugs and him fixing them” he said. (source: bitcointalk.org)
Proof-of-work is a system that can be used to prevent various forms of attacks of a network, such as denial of service or spam. The system forces someone connected to the network to perform a bit of computer work before they’re allowed to participate. By forcing an attacker’s computer to complete a few computations, it can become preventively expensive to spam the network on a continual basis. While there is a small bit of computing power required on the user’s end, the validity of the work is easy for the service provider to check. A proof-of-work system is used by Bitcoin to make sure that miners can prove their worth to the Bitcoin network. The computing power used by Bitcoin miners is basically a sacrifice to show that they’re willing to pay for large amounts of computing power in order to have the privilege of confirming the transactions on the network.
Africa is fast emerging as a growth opportunity for cryptocurrency innovation. This has to do with some real challenges that affect the continent. One such challenge has been the lack of financial inclusion with as many as 80% of the population remaining outside of the formal banking system.
Large price movement in the previous weeks indicated the beginning of a downward trend. After the price recovery, and stabilization at around 525 USD we saw yet another decline. This time, the plunge reached the low of 470 USD before bouncing back to around 480 USD at the time of writing.
Wouldn’t it be great to be able to play your favorite video game and become rich doing it? If all those hours you have spent playing Counter-Strike could be translated into money? Well if you have the skills to beat some of the fiercest competition in your video game of choice, Leetcoin is here to turn that dream to a reality.
Once in a while we hear the inspiring, amusing and often ridiculous stories about Bitcoins, the innovative cryptocurrency that is taking the world by storm. Here is an overview of the Bitcoin’s first achievements in integrating into the mainstream.
Since its launch, Bitcoin seems to create a new question for each one it answers. Questions such as “Is the system viable?” or “Is It a Ponzi scheme?” have been answered. Often still, with any increase in price, and the subsequent correction, community argued that the price reached its maximum. In the wild west of cryptocurrencies forecasts are plentiful, and range from complete devaluation of the currency, up to 100000 USD per Bitcoin. One thing was certain; nobody was sure what influenced the Bitcoin price.
New cryptocurrencies appear every day. At the moment, there are over 200 of them and the number increases almost exponentially. With this many coins, it is hard to find those that have any potential. Simply, numbers are overwhelming and do not allow for a clear view on the entire ecosystem. With this in mind, we decided to pinpoint several altcoins that show promise, at least, in our opinion. Furthermore, our hope is to provide users with tools that will help them wade trough the altcoin forest.
For anyone who is entering the Bitcoin mining industry, difficulty is one of the most important statistics to track on a regular basis. There are plenty of different factors to look at when it comes to figuring out whether or not a Bitcoin mining operation is going to be profitable, and difficulty is one of the more difficult variables to predict. While other costs such as hardware and electricity are somewhat transparent, changes in Bitcoin difficulty can come out of nowhere and have a massive impact on one’s share of the total network hashrate. Let’s take a closer look at the definition of Bitcoin difficulty and how it can be tracked in an efficient manner.
There are not so many really active women within the Bitcoin community, are there? So, it would be a huge mistake from our side not to pay attention to Moran Shaked, a beautiful woman and co-founder of Miss Bitcoin. You would probably ask what is Miss Bitcoin even if you have already heard about it. But it’s the mystery that intrigues us most, right? Let us move on to an exclusive interview with Moran and see if she takes us to the backstage of Miss Bitcoin.
The last several months have shown us a huge variation in Bitcoin price. Mt Gox scandal, followed by a price decline was a shock for the community. Following months led to a belief that there will be no more sudden changes, since the worst has passed. The last few weeks showed that the oscillations are still present and are to be expected in the future. Price will not only oscillate, but will change dramatically, as they did in the past. This should not be a cause for concern. With the adoption rate of Bitcoin growing, but still relatively minor at the moment, there is a strong argument that the future will bring more stability. In the meanwhile, sudden price changes can and should be exploited.
All markets have 3 distinct directions in which price can move — Up, Down and Sideways. Within those 3 directions there will be 2 other elements at play Time & Volatility.
As a trader, knowing the dynamics at play of your chosen market(s) and also of your own Trading Psychology will enable you to choose a trading style or a number of trading styles that suit you and the outcomes you are trying to achieve.
The price has always seemed to be the most important aspect of the Bitcoin ecosystem, and it actually blinds people from seeing the true potential behind a distributed, global ledger. Many of the most adamant Bitcoin proponents claim that the price doesn’t matter to them, but the reality is that it still makes sense to check in on it from time to time. BitcoinWisdom.com is one of the most widely-used Bitcoin chart websites on the Internet these days, but you have to know what you’re looking at if you’re going to be able to make any sense of the lines, candlesticks, and numbers. Here are the key things that you need to understand if you’re going to be able to use these kinds of Bitcoin charts to your advantage.
It would appear that Bitcoin communities have found a new home in the LinkedIn social network. Until now, most Bitcoin community activity has been happening on reddit, a social network that allows a topic to have multiple threads and sub-threads in addition to the standard inbox facilities present in all social networks. Reddit followed by Twitter still hold a commanding lead on matters bitcoin. With the growth of bitcoin communities on LinkedIn, there are reasons why you should be paying attention.
Gogocoin is a new Bitcoin startup that will offer easy-to-redeem gift cards for Bitcoins at retailers worldwide. In exchange for local currency, users will be able to enter retail stores and buy Bitcoins. The cards are then redeemed at http://redeem.bitcoin.com where a wallet is instantly created on blockchain.info, and the coins arrive at spot rate minus a 7% fee. Tom Longson, Gogocoin’s founder, first became involved in Bitcoin in 2011 when he began mining. He then created his first Bitcoin site in 2012. That same year, Tom Longson’s wife started accepting Bitcoin at her bakery – called Cups and Cakes Bakery – in San Francisco, CA. This sparked his interest in how Bitcoin and retail can coexist. He saw early on the potential and started thinking of ways of bringing Bitcoin to mainstream retail.
In the last couple of days Bitcoin experienced a significant price decline. This type of price movement is not common, even in the volatile world of crypto currencies. Rapid movements in price that were normal occurrence in the past, became somewhat of a rarity these days. Those seeking adventure now focus on alt coins where pumps and dumps still prevail. Bitcoin price is not stable, nor will it be in the foreseeable future. It is just a bit more stable than it was before. What is foreseeable and what is not is the topic we will focus on today.
“There is no doubt that cryptocurrency is the future of money”, — said Joerg Platzer, the owner of Room 77, the first bar in Berlin to accept Bitcoin. He believes that together with Bitcoin, cryptocurrency is the future alternative to the current economic system, and he precedes this idea through plenty of lectures, talks with politicians, meetings and conferences. Joerg has recently written a book for Bitcoin dummies, which is going to be released this autumn. CEX.IO visited Room 77 in a nice Kreuzberg area of Berlin to talk to Joerg Platzer about his famous bar, Bitcoin passion, and the future philosophical prognosis about the money value.
Watches. It was at the age of nine, that I was first introduced to the punctual world of Phileas Fogg. If you know your Jules Verne, you might recognise the name Fogg as the protagonist of the novel, Around The World In Ninety Days. Very briefly, it is a story about an eccentric Englishman of the 19th century, known for his punctual habits, who places a wager on his being able to travel around the world 90 days using the means available at his time. He wins the wager, and in an addition becomes husband to an Indian widow he finds along the way.
Security in Bitcoin will always be an issue. Many companies and services have been hacked since the start of Bitcoin and companies need to take any measure possible to secure their services. What do you do if you can’t afford an expensive security team or professional audits? CrowdCurity has built a decentralized security force by giving an open network of security researchers the chance to earn bounties for finding vulnerabilities in Bitcoin company websites.
The CEX.IO Bitcoin crypto exchange platform has a lot of features available for the trader. We want your experience with us to be a great one, so it is important you understand the data you are looking at, particularly charts and market depth data.
With the rapid development of the Bitcoin community more and more ventures that accept Bitcoins come to light. This time we will have a look at Galt’s Gulch Chile, an extraordinary community of scientists, inventors, entrepreneurs and other Bitcoin enthusiasts in the heart of Chile, who have found a way to escape “the over-regulated, over-taxed, war-riddled and welfare-riddled society consuming the world”.
Although it is a bit more difficult to get involved with Bitcoin mining these days, there are still plenty of hardware companies out there vying for their spot in the mining market. Whether you’re talking about cloud mining or personal mining devices, it seems like there is always a new company looking to make a splash by attracting new investors and customers. Let’s take a look at some of the latest news in the world of Bitcoin mining hardware.
In a lot of jurisdictions, driving while speaking on your mobile phone could land you in a lot of trouble. Thanks to a new product called the Quad Lock smart phone mount you can now integrate your smart phone around your lifestyle whether you are driving, cycling, running or even just taking selfies with your friends. The smart phone mount has been produced by Annex Products Pty Ltd, a company based in Melbourne, Australia.
You have to hand it to the Swiss, and it matters not whether you are dealing in bitcoin or fiat money.
With the ability of a Tellen ApfelSchuss they have managed to perfect banking to an art. If you are wondering what a Tellen ApfelSchuss is, well here is a primer. William Tell was a 15th century Swiss hero, who was ordered by a despotic ruler to shoot the arrow that was placed on top of his son’s head, which he successfully managed to do. The ability to do that is what is called ApfelSchuss in German.
When visiting the GHash.IO website, it’s important to make sure that you completely understand all of the information that is being thrown your way. There are a large number of mining statistics available to the individuals who wish to join the mining pool, and these stats can be helpful when it comes to gauging your investment over the long term. The “Last Blocks” spreadsheet on the GHash.IO will tell you everything you need to know about recent blocks that were mined by the Ghash.IO pool. Let’s take a look at each individual stat found on this sheet to make sure you know exactly what it is that you’re reading.
So you thought this blog series was supposed to be about trading? Why then are we talking about psychology, I want to read about profits and success!!
Funding a trading account with $ or BTC is easy. Being able to use those funds to trade with some success and consistency isn’t.
Understanding your own motivations, emotions and in fact yourself is a large part of being able to trade with success, because by being able to do this you will be able to customise your trading behaviour to work positively for you instead of negatively. The psychology of trading is a huge subject matter as any Google search will show you, within our blog we can’t cover all of it, but we’ll focus on some of the most important aspects.
While the acceptance of Bitcoin is overwhelmingly spreading over the world, the new co-working spaces aimed to gather Bitcoin developers and dudes with a true Bitcoin passion are emerging for the accumulation of the brainpower to cultivate Bitcoin ecosystem worldwide. Since the beginning of 2014, more and more cities are getting involved in the Bitcoin creative world. To mention the most prominent ones, the one in Toronto called Decenetrale has grown up to a huge Bitcoin accelerator having the base for companies such as Ethereum and KryptoKit. Paris-based “La Maison Du Bitcoin” (“The House of Bitcoin”) has been launched this spring following a great opening of a Bitcoin Center in York City CEX.IO was visiting recently. Being a heart of underground cultural scene, as well as the center of innovative tech start-ups and develops, it is time for Berlin to play the game.
Money comes along with a wallet. That is simple as ABC. If you own Bitcoin, which is a form of money, then you already have a wallet, more than likely a desktop, mobile or online one. But have you ever thought of something more material in terms of a Bitcoin wallet? Something you could hand to your friend. This is where paper wallets get into the game.
One year ago, August 4, 2013, GHash.IO mined the first block of Bitcoins. This is an incredibly important data for us!
To leave something significant behind, we are revealing a visual representation of the world’s largest Bitcoin mining pool history and statistics.
Let us celebrate together!
When you ask yourself, “How do I mine bitcoins?”, it’s important to realize that you could actually have a variety of different answers come your way. One person will tell you to purchase your own mining hardware and start a mining facility of your own, while others will claim it’s not even worth getting into the mining business. There are many different levels of mining to look at, and it’s also important to know what to do with those bitcoins once they have been mined and placed into your Bitcoin wallet. Let’s take a look at some of your options if you’re thinking about becoming a Bitcoin miner for profit or as a hobby.
Whether you’re a freelancer who needs to sell your bitcoins that you received as payment for a finished project to pay your bills or you’re just not that bullish on the bitcoin price over the next few months, it’s always important to plan where you’re going to sell your bitcoins before you actually go through the process. Although Bitcoin is a frictionless payment system that has the potential to revolutionize e-commerce as a whole, the reality is that you still need to interact with the legacy banking or cash system if you’re going to be able to convert your bitcoins to dollars, euros, or some other form of fiat currency. Let’s take a look at the most secure options you can turn to when it’s time to sell bitcoin on the open market.
Have you ever heard of the tête de taureau? If you speak French and know a thing or two about modern art, you might recognize that as “the Bull’s Head”, a whimsical yet delightful sculpture that is on display at the Picasso Museum in Paris. Spanish painter Pablo Picasso thought that there was something artistic about the union of a bicycle saddle and handlebars to form a bull’s head.
Indeed. There is something of the simple pleasures in life when it is bicycles we’re talking about. Do you remember the first bicycle you ever owned? It could have been a gift from your folks, or a memento from your first date in the park. Lots of my friends have a story about their first bicycle, which is why we would like rekindle your first bicycle love this week with Pure Fix Cycles.
As with most forms of money, there are many different ways in which you can store your bitcoins. Although you should keep the majority of your funds in some form of cold storage or vault, you still need to have easy access to your spending money while you’re on the go or shopping online. Let’s take a closer look at some of the top Bitcoin wallets available to users on mobile and desktop platforms right now.
Bitcoin experts around the world have different opinions about the possible changes in the Bitcoin prices. We can only explore the probable future price of BTC with the presumption that the historical price data indicates the future value of this cryptocurrency. At the time of writing, according to blockchain.info the total amount of Bitcoins in circulation was estimated at 12,995,125 Bitcoins and the price of one Bitcoin was at $617 at Coindesk.
It’s amazing how many things you can easily get for your Bitcoins these days: from food and drinks to traveling and accommodation! Today we want to share one more find with you. Bitfash is great and simple online-store, which features some of the world’s most famous fashion brands all under one roof, and is the quickest way to multi shop with Bitcoin.
CEX.IO Bitcoin Crypto Exchange and cloud mining service is pleased to announce major improvements and updates, which resulted in significant lowering of costs for maintaining cloud-based GHS and decreasing withdrawal fee 10 times.
There are a large number of new Bitcoin startups popping up on what seems to be a daily basis these days; however, only a few of these companies are actually helping people in the developing world gain access to the Bitcoin ecosystem. BitPagos is one of these companies, and their goal is to help merchants gain access to bitcoins by selling their goods and services to people all over the world. They market themselves as the opposite of BitPay where merchants can allow their customers to pay with credit cards and then have that fiat converted into bitcoins.
While a good number of Bitcoin exchanges have popped up in different spots around the world over the past few years, the reality is that certain jurisdictions are making things harder on Bitcoin entrepreneurs than others. Any exchange is going to have to operate within the legal guidelines of their local country if they wish to operate without fear of being shut down, but one of the main problems with that rule of thumb is that the legal landscape is still being put together when it comes to Bitcoin. The one thing that most governments know they wish to stop right now is money laundering. Although it will definitely be a difficult task to get a legal handle on Bitcoin over the long term, regulators can still have a bit of control when it comes to the entry points and exit points of the Bitcoin ecosystem.
One of the main areas of skepticism that people hold onto when they are new to the Bitcoin ecosystem has to do with who is receiving new bitcoins after they have been created. After all, if this is supposed to be a decentralized currency and payment system, it wouldn’t make too much sense if there was just some guy printing bitcoins off on his home computer. New bitcoins are distributed through the Bitcoin mining process, which is basically a lottery between many different miners who are trying to crack the algorithmic code associated with the next 25 bitcoins to be released. Let’s take a closer look at the mining process and how the recipients of newly minted bitcoins are really decided.
It has long been said that Bitcoin could be useful for certain transactions that currently have to deal with a large amount of friction. The online gambling industry is definitely one such market where there are plenty of blocks and holds on transactions, and it’s actually quite surprising that it took the big players this long to test out Bitcoin for the first time. Although 5Dimes currently is in the process of testing Bitcoin payments with a few select players, they should be able to rollout this new deposit method to the rest of their customers in the near future. There have been plenty of Bitcoin-centric sportsbooks in the past, but too many of them turned out to be nothing more than scams. This new entrance into the Bitcoin market by 5Dimes should help build more trust around the idea of using cryptocurrencies to place bets.
A number of Bitcoin startups are emerging all over the world. Some of them are made in purpose to increase popularity of cryptomoney, while others use Bitcoin as easy and accessible way of payment. We’d like to introduce the most interesting and ambitious startups on our blog, so meet the very first one – Bitlance.
Last week, London hosted an incredible event, which thundered throughout the Bitcoin community, — CoinSummit conference. CEX.IO and GHash.IO were glad to support the event with Platinum Sponsorship and make the first step out at such a significant conference.
Many people have heard of the term “cryptocurrency”, but they are unsure of the origins of this new addition to the English language. The second half of the word is rather straightforward, as a currency is most easily understood as another term for money. In most cases, a currency is a type of money that is used in a certain geographic area or by a particular group of people. The first part of the word is what throws people off and can actually seem rather scary at first. In reality, crypto is simply a shortened version of the term cryptography. A simplified definition of cryptography is any kind of method to mask a message that is sent from person A to person B while person C is also watching. A specific form of cryptography, known as public-key cryptography, is at the core of Bitcoin and other cryptocurrencies, which have taken the world by storm over the past few years.
When attempting to convert a certain amount of Bitcoins to dollars or any other currency, it’s important to make sure that you have the correct tools at your disposal. While some people feel like any calculator will be able to get the job done, it is important to remember that there is more than one price for a single Bitcoin at any point in time. Sometimes different exchanges and Bitcoin businesses quote you different prices based on their own trading histories, which is why it makes sense to take a look at the source of the price in your Bitcoin to USD calculator before entering a new calculation.
Back in March we published a blog called the ‘Top 5 Rules for Successful Trading’ where we introduced some of the basic rules traders should employ to ensure they treat their trading activity in a professional and disciplined manner.
July 8, 2014, London, UK— CEX.IO Bitcoin Crypto Exchange, the first and leading multi-functional platform, is pleased to announce the lowering of maintenance costs for GHS purchased on CEX.IO. As of July 8, 2014, the maintenance costs will be approximately $0.2 per month for 1 cloud-based GHS. CEX.IO has also updated the hardware line by adding 2 Th/s ASIC miners to the Redeem Hardware options.
Currently more and more Bitcoin enthusiasts are engaging in various online activities (videos, info-graphics, podcasts) to shine light on what some might think is a complicated subject — what the Bitcoin is, its benefits and threats in terms of technical and societal application, and Bitcoin’s future in the global financial sector. With this in mind, we have surfed the Internet in search of the most insightful podcasts to help you obtain a better understanding of the Bitcoin. Some of these podcasts have more educational characteristics, while other are more entertaining and are presented as talk shows.
As most of you know, Anti-Money Laundering suggests a number of procedures, laws and regulations that are implemented to prevent the practice of generating income through illegal actions and criminal behaviour. Targeting businesses providing financial services is an ongoing trend in the criminal world, and often occurs without the company’s knowledge or even suspicion.
Expedia is the latest large company to decide that accepting Bitcoin may not be such a bad idea. The online hotel and flight booking agency has decided to partner with Coinbase in order to accept Bitcoin payments from all over the world. Much like the other big companies that have recently decided to accept Bitcoin, Expedia will be instantly converting their bitcoins into dollars after they have been received. As more large companies continue to adopt Bitcoin left and right, the rise of Bitcoin is beginning to feel like the rise of PayPal from a decade ago.
Bitcoin has a lot of potential for growth in the world of online freelancers, and the largest place to pay freelancers for odd jobs with Bitcoin right now is Fiverr. Fiverr is one of the largest hubs for freelancers on the entire Internet, and it’s now the perfect spot to go when you want to pay someone to complete a small task for you for bitcoins. It’s pretty crazy what people will do for five dollars on this website, but the site also allows freelancers to charge larger amounts of money for more serious work. Fiverr decided to partner with Coinbase to accept Bitcoin payments, and it seems that most of the large merchants accepting Bitcoin seem to be gravitating towards the San Francisco based company.
Although Bitcoin has gone through quite a bit of growth since the days of MtGox and Silk Road, the fact of the matter is that there are still some issues facing this digital currency when it comes to mainstream adoption. One of the main points of failure right now seems to be security of Bitcoin wallets. Whether you’re talking about a centralized service that holds bitcoins for other people or a user holding their bitcoins on their own computer, there is simply too much that can go wrong when it comes to the security of one’s coins. The best method of storage is the cold variety, which means the private keys are not allowed to touch an Internet connection. Although paper wallets are viewed as the main option for this kind of storage right now, it seems that hardware wallets could offer an easier, simpler option for the average user.
Since the creation of cryptocurrencies, there has been certain controversy around Bitcoin investment. Throughout 2014 a great deal of venture-capital investments have been made into businesses associated with Bitcoins. Simultaneously, with the price fluctuation of this digital currency Bitcoin investors have been imposed with little room in the event of fraud and theft, especially after the fall of the Bitcoin exchange Mt. Gox.
Gradually Bitcoins and various altcoins are becoming more popular winning favourable attitude of millions around the world. However, this is only the beginning of the integration for cryptocurrencies in our daily life. The crypto community should take a number of steps in popularising this innovative peer-to-peer payment system. This will stimulate Bitcoin’s growth and solidify its position in the global financial sector.
The CEO of eBay made headlines in recent weeks by claiming that PayPal is eventually going to have to integrate digital currencies, such as Bitcoin, into their payment platform. While this should be huge news for anyone interested in mainstream adoption of Bitcoin, the reality is that many purists in the Bitcoin community are actually upset by this move. After all, one of the main tenants of Bitcoin is that we no longer need various third party payment providers, such as PayPal. The online payment giant has also noted that Coinbase and Bitpay are now competitors of theirs, which could be one of the main reasons they’re looking to integrate with new digital currencies in the first place.
Overstock was able to make headlines a few months ago as the first major retailer to accept Bitcoin as a payment method, and now DISH is getting in on the action as well. DISH is nearly seventy-five times as large as Overstock, so this is a much bigger deal than acceptance at an online retailer. The DISH Network also has more than 14 million subscribers, so this could be an opportunity to spread the Bitcoin gospel to their customers. The company has partnered with Coinbase, which means they could also take advantage of the Bitcoin company’s new program where the fees saved by switching to Bitcoin are shared with the customers. DISH is currently the largest retailer to accept Bitcoin.
While most of the general public was interested in the new operating system unveiled by Apple at the annual Worldwide Developers Conference, the Bitcoin community was excited about a different kind of release that was happening at the same time. Apple decided to make a few small changes to the kinds of apps that they will allow on the app store, and one of those changes was an embrace of virtual currencies, such as Bitcoin. Many people remember that Apple decided to start banning Bitcoin-related apps in 2013, but no one really knew why the tech giant was taking a negative stance on the digital currency. This latest move from Apple gives everyone an inside look at what the thinking may have been behind the bans in the past.
Rapid growth of GHash.IO mining pool, seen over the past few months, has been driven by our determination to offer innovative solutions within the Bitcoin ecosystem combined with significant investment in resource. Our investment, participation and highly motivated staff confirm it is our intention to help protect and grow the broad acceptance of Bitcoin and categorically in no way harm or damage it. We never have and never will participate in any 51% attack or double spend against Bitcoin. Still, we are against temporary solutions, which could repel a 51% threat.
X11 is a relatively new mining algorithm that has gained some notoriety in a time when ASICs are just now being released for scrypt-based cryptocurrencies. Scrypt was supposed to be a mining algorithm that made mining a more decentralized process, but it seems that it has failed in preventing the creation of hardware that can mine litecoins, dogecoins, and other scrypt coins in a rather quick manner. Understanding the differences between X11 and the other major mining algorithms can be used to help figure out what this new mining algorithm is all about.
The Bitcoin Center in New York City is opened to the public since the beginning of 2014 and it welcomes more than 200 visitors every other day. Which is not surprising, considering that it is located in the heart of New York City’s financial district, only a few feet from the New York Stock Exchange.
If you are an Instagram user and Bitcoin adherent, then you’ll appreciate this post. We went trough all Bitcoin-themed Instagram accounts and have chosen 5 best ones for you to follow. These are definitely worth your attention!
A little bit lost among the recent headlines of multi million dollar venture capital deals and bitcoin price action, was a very interesting technical based piece involving Amazon paving the way to accept peer to peer crypto currency (Bitcoin) payments.
The top publishing service WordPress.com was one of the first global companies to accept the non-governmental cryptocurrency Bitcoin as a payment method for different upgrades, including ad-free interface and custom design. WordPress.com serves as an online publishing and blog platform for Bloomberg, The New York Times, CNN, Reuters, Mashable, TED, General Motors, eBay, UPS and Volkswagen. This publishing company supports nearly 58 million sites that generate about 32 million new posts each month in 120 different languages.
Each minute of Bitcoin2014 conference was meaningful, and everyone was completely torn between simultaneous presentations, panel discussions and exhibition stands. But there were moments, when all the eyes were looking at one place and all the ears hearing to one voice. Presentation of Gavin Andresen was one of such moments for sure.
Although most of the Bitcoin conversation still happens online or at monthly Bitcoin conferences, another way to meet Bitcoin supporters in your area is through Bitcoin meetups. Most major cities around the world already have some kind of Bitcoin meetup on a weekly or monthly basis, and these are the events where you can meet real people in your area who care about Bitcoin or cryptocurrency as a whole. If you’re in a small town that does not already have a Bitcoin meetup, then there is nothing stopping you from starting one of your own.
It’s been a couple of weeks since La Maison du Bitcoin (‘The House of Bitcoin’) had opened its doors to the public in Paris. We’ve decided that it’s time to have a chat with one of co-funders Eric Larchevêque and ask about first achievements and difficulties he and his team team have faced so far.
Bitcoin acceptance is increasing rapidly as more individuals, businesses and educational institutions adopt this innovative payment method. As the Bitcoin community grows, a great variety of products and services can be acquired for Bitcoins, including NBA tickets, plane tickets, accommodation and entertainment in Las Vegas, an appointment with a chiropractor, online games, gift cards, online dating services, pizza and even beer. You can also pay for college education and tutoring services with the help of Bitcoins.
When most people think about using Bitcoin to pay for something, they usually imagine paying with a smartphone or laptop; however, these kinds of advanced computing devices are not widely-used in every part of the globe. Some parts of the world are not able to run an Android app on their mobile device, but there are a few different ways to get around this issue of certain populations not having access to smartphones. Text messages could be the key to unlocking Bitcoin’s potential in developing countries, and there are plenty of different projects that aim to turn this idea into a reality in the near future.
While many people are already prepared to dive into the Bitcoin economy head first, it still makes sense to use a Bitcoin converter when you’re trying to figure out the correct payment amounts for various transactions. Plenty of people around the world already get paid in Bitcoins on a regular basis, but their pay is usually pegged to the value of Bitcoins in their local currency. For example, someone who works for Bitcoins in the United States probably has their pay set in terms of dollars rather than Bitcoins.
Most Bitcoin enthusiasts understand that the iPhone is not the best selection for a mobile device if they want to be able to make Bitcoin payments. Still, one of the core ideas flyring around at Bitcoin2014 conference sounded like that: “Bitcoin + iPhone. This is what we are missing.”
We all know Bitcoin is by far and away the largest crypto-currency out there. With a $6.3B market Cap it dwarfs all the others, Litecoin comes in a distant 2nd with $305M. But did you know there are now way in excess of 250 alt coins available and that number is growing every day?
Recent Bitcoin2014 conference was pierced with discussion of the Bitcoin situation in various countries emphasising that the emerging markets are most likely to be the leaders of Bitcoin adoption rather than the citizens of developed countries. How can such phenomenon be explained?
Thank God it’s Friday! We have something for you to enjoy the Weekend ahead – list of 10 great bars and pubs all over the planet where you can pay for a few pints using nothing but Bitcoin. Isn’t it amazing?
Mastercoin has recently gotten a lot of attention due to IPO of MaidSafeCoin, with the payment methods beings Mastercoin and Bitcoin. What makes Mastercoin different from the numerous cryptocurrencies available on the exchanges? Well the most significant is the use of layering itself on top of Bitcoins blockchain.
A Bitcoin to USD chart is the best way to track the price of a single Bitcoin over a long period of time. Although there are now many different exchanges across different parts of the world, most of the early trades made from fiat to Bitcoin were done so with US dollars. There are many different sources to choose from when it comes to finding the right chart because there are now more than just a few exchanges around the world. When tracking the price of Bitcoin, it’s important to stick with a chart based on an exchange that has a heavy amount of trading volume.
An increasing number of restaurants and small cafes accept Bitcoin in many different countries. And luckily they’re usually great places to go. If you’re determined to spend your digital currency on food, then we’re happy to offer you at least 10 real-world places to eat in.
In part one of this two part series, we talked about the basics of how Bitcoin wallets work and what your public and private keys mean when it comes to defining which bitcoins are yours. By the end of that post, it should have been quite obvious that private keys are the thing you need to guard with your life in the world of Bitcoin. Your bitcoins are only really yours if you’re the only person who has the private keys attached to those bitcoins, which is why Bitcoin wallet security is an important topic to study. Although Bitcoin wallet security has been a rather difficult issue to tackle in the early days of cryptocurrency, there are solutions in the works that should help everyone and their grandmothers keep their private keys secure.
The easiest way to describe a Bitcoin wallet is to think of it as the place where your bitcoins are stored, but it’s really much more than that. There are many different types of wallets that people use these days, and understanding how to use a Bitcoin wallet is the only way to make sure that you learn how to use the Bitcoin payment network correctly. After all, there’s no need for banks in Bitcoin, so you can be in complete control of your bitcoins if that’s what you want to do.
Creator of Bitcoin: Who is he or she? Lately this man, or woman, has been making some headlines regarding his or her creation, Bitcoin. For the rest of this article, let’s assume it’s a man. Here are some facts on the person(s) that will shed some light on this elusive character(s) that’s started a revolution and the launch of 200+ cryptocurrencies.
Currently, one of the most popular hashtags within the Bitcoin industry is #Bitcoin2014, which stands for the biggest Bitcoin conference, organised by Bitcoin Foundation in Amsterdam. Too many “Bitcoin” words in the latter sentence? Well, one cannot ever calculate how many times this word is spoken out here, in the city of tulips, beautiful channels, legal marijuana and… Bitcoin.
One of the main criticisms that people make when talking about a possible bubble in the bitcoin market is that there is nothing to prevent the value of the bitcoin from crashing to zero. People will point to the fact that you need dollars to pay for taxes in the United States or natural resources on the world stage, and they’ll also mention that gold also cannot drop to zero due to the fact that it’s used for jewelry and the production of various electronic devices. The people making these claims have not done their research because the fact of the matter is the Bitcoin payment system is what prevents bitcoins, the currency, from dropping to zero. The protocol and the currency are linked together, and you cannot have one without the other.
Last week we’ve announced a competition for CEX.IO users. As you remember, we asked you to create advertising for CEX.IO platform. Authors of the brightest pieces were promised to get 5 GHS, 10 GHS and 20 GHS for the 1st to 3rd places respectively.
There are plenty of different factors that go into the price of the bitcoin at any one point in time, but all of these different variables can be summed up in nothing more than supply and demand. The bitcoin is the ultimate version of a free market because there is nothing tying the value of the world’s first major cryptocurrency to a specific price point. The market determines the price of a single bitcoin, and the Bitcoin market is subject to the same fear and panic that is usually seen in any other market in human history. So what is driving the price of the bitcoin today?
Whenever you interact with an exchange or payment system, you are usually going to pay a fee to pay for the services provided. There are two types of fees or costs involved when taking certain types of action on CEX.IO, and these three fees are for transaction and maintenance. To understand how fees work on CEX.IO, you have to understand where each of these three fees comes into play. Let’s take a look at these three fees and when you can expect to pay them while using the CEX.IO platform.
Although Bitcoin has been showing high potential in the global financial sector, it still faces obstacles in various countries. One of the major problems that Bitcoin owners experience is using this digital currency in daily life for small pleasures, for instance buying a chocolate sundae. Right now in order to make a purchase you would need to scan a QR code using your smart phone or email the extensive Bitcoin address to the vendor. For the majority, making purchases with Bitcoin remains more complicated than using Visa or MasterCard.
However, according to Xapo, a company that offers online Bitcoin wallets, this will change in two months.
Before investing in any kind of tradeable asset, it’s important to understand the underlying factors that go into that particular asset’s overall value. There are a wide variety of different indicators to look at when it comes to the price of GHS, and understanding the economics behind Bitcoin mining is a vital aspect of making the right decision when it comes to investing in GHS. There are plenty of tools you can use to your advantage when it comes to figuring out the long-term value of GHS, and it’s important to factor in as many variables as possible when estimating whether or not GHS is a solid investment for your portfolio.
An online music store called Sound Waves is on our list today. They have recently launched a new payment gateway, which means that you can buy tracks using Bitcoins. Sound Waves website has a great selection of different music. It is easy to browse by genres, such as Hip Hop, Chill Out, Trance, Techno/Minimal, D&B, Dub Step, Tech/Deep House, Electro and Progressive House. You can also look for music using the list of Artists.
CEX.IO announces lower maintenance costs for owners of GHS. The previous cost was estimated at $0.30, but is now lowered to $0.26 for 1 GHS per month. The maintenance costs on these cloud-based mining commodities are used to pay for costs of electricity, hardware maintenance, and data centre upkeep. The main reason for this drop in maintenance costs is due to working closely with hardware providers who can provide nearly free upkeep costs. This drop in maintenance costs for holders of GHS should lead to long-term savings for investors.
As of now, Bitcoin and banks are just like water and oil, you shake them together up a bit, but eventually after time they slowly separate. How is possible for banks to integrate Bitcoins into their system, or maybe just peacefully coexist?
Throughout the year more and more local and international companies have been opening their doors to Bitcoins, the innovative digital currency and a pioneering peer-to-peer payment system. Overstock.comis probably the largest retailer that have embraced the possibility of providing its customers with a revolutionary payment method accepting this crypto-currency.
We actively communicate with users on our official Facebook page and often conduct small surveys to find out about their opinions. Time went by, and we came up with a summary infographics. And what do you think about it?
A Bitcoin ATM is a machine that works just like any other ATM, it’s a device that allows you to buy or sell Bitcoins with cash without the need of a human. Some are also accepting other popular cryptocurrencies such as Dogecoin and Litecoin.
One of the main factors people look at when it comes to mining any form of cryptocurrency is the overall cost of electricity. There are many variables that go into the total cost of mining, but none of them are more important than the cost of powering the mining devices. Many people think that using a form of renewable energy, such as the Sun, is the way to cut mining costs, but is there really a future in mining bitcoins with solar power?
Multipools in cryptocurrency mining are basically used to take out a lot of guess work involved with figuring out which cryptocurrency should be mined at any given time. The most profitable cryptocurrency for miners can change by the second, so it’s important for a miner to be on top of these changes in the market. While Dogecoin could be the most profitable coin to mine right now, it may actually be better to mine Worldcoin at a point later in the day. To get the most out of one’s mining hardware, it’s always a good idea to switch between different coins as one becomes more profitable than another.
Despite the fact that Bitcoin has made significant progress towards becoming the world’s first truly global currency over the past few years, many people are hesitating whether they should start using Bitcoin on a daily basis or not. The main reason is that for the vast majority of purchases, online and in real life, Bitcoin seems to be pretty much useless. In order to destroy this myth we start publishing a series of reviews that will tell you about the most reliable services and places, which accept Bitcoin all over the world.
When trying to learn everything there is to know about a complex topic such as Bitcoin, it’s important to make sure that you’re getting all the facts from the right source. While reading Satoshi Nakamoto’s original Bitcoin white paper is always the best place to start, it doesn’t paint the whole picture when it comes to how Bitcoin works in the mind of someone who isn’t already an expert in computer science, cryptography, and other topics. There is more literature being released in the Bitcoin space with each passing day, and all of these books should make it easier for people to understand the power of Bitcoin and the blockchain.
Whenever you have a question or comment about our trading platform here at CEX.IO, we’ll always be happy to find a solution to your specific issue. Trading on any exchange can be rather difficult, and we understand that things can get even trickier when you’re trading shares of mining power. If you need some help from our support staff, then these are the places you can go to request assistance.
The Multipool Pro from Ghash.IO is a scrypt mining pool that allows miners to always mine the most profitable coins on the market. Because of Ghash.IO’s partnership with CEX.IO, coins can also be sold on the open market soon after they have been mined in the pool. As of this moment, users of the Multipool Pro are able to switch between mining LTC, DOGE, FTC, AUR, MEC, WDC, DGB, SXC, 42 and CAT. One of the main features of this new mining pool is the ability to convert all of these scrypt coins into BTC or LTC after they have been mined. Miners also have the ability of dropping the current job on the spot when it’s time to switch between coins.
Ever since late 2013, there have been numerous reports from China saying that Bitcoin is banned or that Bitcoin exchanges in China will not be able to work with Chinese banks. The most recent rumors state that Bitcoin exchanges will need to end relationships with various banks in China by April 15th, but there is still some confusion as to whether or not this is an official order coming from the People’s Bank of China. Although no one is really sure of the current status of Bitcoin in China, the markets seem to think that Bitcoin trading could become a bit more difficult for Chinese individuals in the near future.
April 10th, 2014, GHash.IO has launched a brand new scrypt mining feature called the Multipool Pro. With its help our users will be able to mine the most profitable coins and use additional useful settings, such as the conversion and the switch settings.
Understanding the importance of Bitcoin for online merchants is rather easy. After all, Bitcoin is supposed to be the “Internet of money.” There are definitely a large number of Bitcoin advocates in the online world, but what happens when we bring Bitcoin into brick and mortar stores? Some pretty big online retailers, such as Overstock and TigerDirect, are accepting Bitcoin online, but when are we going to see more opportunities to pay with Bitcoin at physical stores? Let’s take a closer look at why Bitcoin makes sense for public places and how this digital currency can be turned into a real payment option.
Many of the people who feel like they missed out on the Bitcoin mining craze a few years ago have quickly moved over to various scrypt altcoins, which allow them to mine with nothing more than a GPU. Although ASIC scrypt mining hardware is just around the corner, many people still view this type of mining algorithm as a way to make sure everyone gets their “fair shot” at a particular cryptocurrency. Litecoin is definitely still the king of the altcoins, and mining litecoins is slowly becoming easy enough for any individual to enjoy in their free time.
One of the main criticisms that some people have against Bitcoin is that the value of bitcoins is not exactly stable. Although the price of a single bitcoin was able to climb from around $10 to over $1000 over the course of 2013, the reality is that 2014 has not been that kind to holders of bitcoins up to this point. While short term speculators may not be enjoying this decline in the bitcoin price in early 2014, there are plenty of long-term investors who see this as nothing more than a buying opportunity. Anyone who is buying bitcoins to hold over the long haul realizes that getting angry at a $500 bitcoin price could seem quite comical in just a few years. Let’s take a look at where the bitcoin price could end up if Bitcoin really does start taking over the financial world.
Although most of the Bitcoin community would not like to see a centralization of hashing power within the Bitcoin network, the reality is that it’s bound to happen. Some mining pools are going to offer better perks than others, and these pools are eventually going to have more users than others. There are eight major pools that can be tracked on various hashing distribution charts, but four of these pools are much bigger than the others. Let’s take a look at the four biggest mining pools on the market right now.
Within two weeks, CEX.IO Bitcoin Commodity Exchange introduces transaction fee, which will be implemented in two stages, namely fixed commission of 0.2% and further transition to the flexible fee, that of 0.5% to 0.2%. The fee implementation is aligned with the upcoming project monetisation and introduction of the most in-demand trading pairs, such as BTC/USD and USD/GHS.
After becoming the first online commodities exchange for Bitcoin mining hashing power, CEX.IO has now taken their level of innovation to the next level with futures contracts on the delivery of cloud mining equipment. FHA and FHM are the two futures contracts available for mining equipment right now, and the contracts will convert into GHS once they are executed. This is basically a way for traders to bet on the future price of hashing power on the Ghash.IO Bitcoin mining pool.
Bitcoin has been a focal point of much controversy in the past year. Despite enormous price fluctuations and companies like Mt. Gox being shut down, Bitcoin is becoming more popular than ever. An increasing number of customers is choosing mobile as their platform of choice for doing business. Bitcoin industry is not an exception.
While there isn’t one secret tip to successful trading that will allow you to become a millionaire overnight, there are definitely a few general rules that should be followed before you start trading any kind of asset with real money. Instead of looking for one important note to follow when trading for the first time, it’s important to pull together a group of separate guidelines as a solid base for your future trades. Let’s take a look at some of the main rules that you should follow before you end up making a huge mistake.
Although most of the world still prefers fiat currency over all over forms of money, cryptocurrency and other types of virtual currencies are definitely starting to bring some real competition to the table. Governments have always liked the idea of controlling the money supply, but these new forms of money are trying to take that kind of power out of the hands of centralized institutions. Let’s take a look at the advantages and disadvantages of the three most popular forms of money right now.
Anyone who’s interested in mining cryptocurrencies understands that this is a market that can change rather quickly. While a certain amount of hashing power may be useful today, it doesn’t take long for the network difficulty to increase when new miners are being released on a monthly basis. To keep up with the rest of the competition in the cryptocurrency space, miners need to make sure they have all of the latest mining hardware. Let’s take a look at some of the most recent trends in the cryptocurrency mining industry.
Before you start trading on any market, you need to make sure you understand some of the basics of reading the charts and understanding where the market is headed. The graphs on the homepage of CEX.IO look rather confusing to some, but the reality is these graphs are easy to understand once you get a few basic definitions and pointers. Let’s take a look at some of the key elements of trading charts that you need to understand before you’ll be able to comprehend the trading graphs on CEX.IO.
The latest trend in the altcoin market is the idea of a cryptocurrency created for a specific country. Auroracoin was the first altcoin to enter this space, but we also have Mazacoin and Spaincoin to look at now. Many people are excited about the prospect of these cryptocurrencies becoming more widely used in specific parts of the world, but do these “domestic cryptocurrencies” hold any promise over the long term?
The original futures markets originated in North America over 150 years ago, and the origins of this particular type of contract can only be described as practical. As the American agricultural industry was booming, farmers were increasingly trying to find the best price when they brought their crops to market. They would often meet in centralized hubs of commerce, such as Chicago, to get the best prices for their crops. Those buyers would then ship the crops to many different locations around the country. Eventually, the farmers and dealers were buying and selling contracts for the delivery of a certain amount of wheat, corn, and other crops at a spot price. Although these trades started out with contracts that involved immediate delivery, forward contracts were eventually created to allow for the delivery of crops at a certain date in the future. These forward contracts are the foundation of the futures contracts that traders know well today.
If you’ve been paying attention to the history of cryptocurrency mining over the past few years, then you’ve probably noticed that mining bitcoins is not as easy as it used to be. While Satoshi and other early Bitcoin adopters were able to mine bitcoins with simple laptops, the competition in this market has increased rather dramatically over time. At first, new scripts were created to make mining with GPUs possible, and now we’re at the point where you need to purchase thousands of dollars worth of ASIC hardware if you want to have any chance of mining bitcoins in the near future. Any coin that uses the SHA-256 hashing algorithm is going to be difficult to mine these days due to all of the specific, expensive hardware that is used to complete computations at a faster rate than CPUSs and GPUs. This is where Scrypt comes into play.
CEX.IO Bitcoin Commodity Exchange in the person of Jeffrey Smith, CIO, was interviewed by the Polish news portal bitcoin.pl. The interview covers up-to-date issues connected with CEX.IO, cryptocurrencies and the Bitcoin community.
CEX.IO is the first and currently leading commodity exchange platform, which aims to make people more aware of the advantages of Bitcoins trading and mining as well as to upskill Bitcoin traders and expand their knowledge of various mining possibilities, e.g. Cloud Mining and Redeeming Hardware.
While Bitcoin mining is a process, which allows GHS (hashing speed of BitFury Chips) owners to receive financial rewards, the most important feature of CEX.IO is Bitcoin trading as well as trading commodities for Bitcoins.
More and more people are becoming knowledgeable about Bitcoins, a cryptocurrency and a peer-to-peer payment system, which is becoming more and more popular. This innovation triggered great aspiration, scepticism and rumours in financial, governmental and security sectors around the whole world.
Bitcoin is a digital currency that was specified back in 2009 by pseudonymous programmer Satoshi Nakamoto as an open source software that one could use to generate and trade funds. Now, cryptocurrency enthusiasts can mine, trade and exchange Bitcoins for other currencies, products and services. Globally miners use special Bitcoin mining hardware, which solves mathematical problems of increasing complexity in order to mine Bitcoins and, as a result, gain financial reward.