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Category Archives: Bitcoin

Bitcoin Exchange Guarantees Clients Crime-Free Trade in Denmark

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Photographer: Karen Lagcao Grano/CCEDK Crypto Coins Exchange Denmark ApS via Bloomberg

Denmark is about to get a new Bitcoin exchange, promising future clients a crime-free platform on which to trade the virtual currency.

The CCEDK Crypto Coins Exchange Denmark ApS, which is due to open this month, is offering its trading platform to people across the globe, Chief Executive Officer Ronny Boesing said in an interview. The exchange will initially provide customers with the possibility to trade Bitcoin and Litecoin against each other, as well as in exchange for Danish and Norwegian kroner, British pounds, dollars and euros.

Safety has emerged as a key theme in determining Bitcoins fate as a viable payment form. The software was at the center of a money laundering scandal in January, when Bitcoin Foundation Vice Chairman Charlie Shrem was charged by U.S. Attorney Preet Bharara for allegedly attempting to sell the crypto-currency to narcotics traffickers. He denied the charges in April. The trial starts in September. Bitcoin then suffered a further setback in February when Mt. Gox filed for bankruptcy in Japan after it couldnt account for 850,000 units of the virtual currency.

Our strongest selling point will be that clients will know where we are, that the jurisdiction is Danish and that theres complete transparency, Boesing said. We link to our lawyer on our website in case anyone feels they need one.

The European Banking Authority in December cautioned against using Bitcoin and other virtual currencies, noting that no specific regulatory protections exist that would cover you for losses if a platform that exchanges or holds your virtual currencies fails or goes out of business.

Boesing said his exchange will operate as if it were overseen by a financial watchdog, because there could be a decision to regulate this kind of business in the future. We are also ready for that.

Denmarks Financial Supervisory Authority said in December it was looking into the need for regulation. Michael Landberg, the watchdogs chief legal adviser, said then the most likely outcome would be an amendment to existing financial legislation so that we have regulation covering it. Danish regulators will seek to follow the mainstream, he said, adding it just needs to be regulated.

Bitcoin has already encountered some hurdles in Scandinavia. A number of the regions biggest banks have distanced themselves from the payment form and rejected requests from clients seeking to set up accounts amid concern the software could be used to aid crime.

SEB AB (SEBA), the Nordic regions largest currency trader, cited large uncertainties surrounding Bitcoins status, in a January interview. The bank said then it wont offer transactions, accounts or currency exchange services in Bitcoin for that reason. Nordea Bank AB (NDA), Scandinavias biggest lender, said the same month it wont offer any services related to trading Bitcoin and is advising clients of the risks associated with the payment form.

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Bitcoin Exchange Guarantees Clients Crime-Free Trade in Denmark

Bitcoin miner startup HashFast could be forced to liquidate

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This HashFast board is no longer for sale.

HashFasts already terrible situation just got a lot worse.

The Bitcoin miner manufacturer-turned-chipmaker never fulfilled a $6 million deal with Bitcoinmining firm Liquidbits, whichfiled a slew of new documents in federal bankruptcy court in San Francisco on Wednesday.

HashFast: We are evaluating our options and preparing our response."

Absent the immediate appointment of a trustee to realize the value of the [Bitcoin mining] chips, there may be nothing left in the estate to liquidate by the time an order for relief is entered, Liquidbits argues in one of its filings.

Liquidbits CEO Gregory Bachrach alleges that HashFast is currently attempting to sell off its remaining inventory of Bitcoin mining chips to a foreign companydespite a binding arbitration order that forbids it from doing so. Neither HashFast nor its attorneys responded to Ars repeated requests for comment.

10 days ago, a different group of five customers filed an involuntary bankruptcy petition against the fledgling San Francisco startup. That was the first step in an attempt to recover more than $330,000 in payments that were apparently never fulfilled. The new filings tack onto that existing involuntary bankruptcy case.

The involuntary bankruptcy filing came days after HashFasts CEO told Ars that his company was as poor as church mice. Prior to that, the company fired half of its staff and declared were not scammers.

In early May 2014, Ars profiled the San Francisco startup and chronicled the numerous arbitration cases and lawsuits that the company has pending against it. Many customers have accused the firm of outright fraud, and some are upset that when the company failed to fulfill its orders, it would not refund the amount in bitcoins as it had previously promised.

In a declaration to the court, Liquidbits CEO Gregory Bachrach writes that his company had placed a $6 million order with HashFast as of October 3, 2013 to acquire Bitcoin hardware constituting a total of three petahashes per second.

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Bitcoin miner startup HashFast could be forced to liquidate

Hacker Weev Speaks:Invoices DoJ For Prison Time Will Only Take Bitcoin! – Video

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Hacker Weev Speaks:Invoices DoJ For Prison Time Will Only Take Bitcoin!
In this video Luke Rudkowski of WeAreChange catches up with well known hacktivist Weev. Weev has recently been released after spending 41 months in prison. After having years of his life taken...

By: WeAreChange

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Hacker Weev Speaks:Invoices DoJ For Prison Time Will Only Take Bitcoin! - Video

BITCOIN 2014 – Wences Casares (CEO Xapo) – Getting to a Billion Bitcoin Users – Video

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BITCOIN 2014 - Wences Casares (CEO Xapo) - Getting to a Billion Bitcoin Users
Help make more of this content possible. Please donate: 1LAbmS7ksjpgEyxgHu2JdQhtzk6D3WfE4c Recorded May 16, 2014 at BITCOIN 2014 in Amsterdam, Holland. Wences Casares - Founder and CEO,...

By: Coinsider This!

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BITCOIN 2014 - Wences Casares (CEO Xapo) - Getting to a Billion Bitcoin Users - Video

'Bitcoin Pizza Day': Why 2 Pies Are Now Worth $5 Million

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ABC US News | ABC International NewsCopy

Who knew buying a hungry guy pizza could make you a millionaire?

The first Bitcoin transaction, according to Internet lore, was for two Papa John's pizzas delivered to a guy in Florida named Laszlo Hanyecz, who ponied up 10,000 bitcoin (about $30) in exchange for the pies.

"It was a good pizza," Hanyecz, 32, told ABC News today.

According to today's exchange rate for the crypto currency, the pizzas would have cost Hanyecz about $5 million.

The programmer, who said his balance is now "in the low single digits," said he is proud of his place in Bitcoin history.

"It kind of helped show people what it was worth," he said.

On May 18, 2010, Hanyecz posted his humble request on the Bitcoin Talk forum.

"I'll pay 10,000 bitcoins for a couple of pizzas ... like maybe 2 large ones so I have some left over for the next day. I like having left over pizza to nibble on later. You can make the pizza yourself and bring it to my house or order it for me from a delivery place, but what I'm aiming for is getting food delivered in exchange for bitcoins where I don't have to order or prepare it myself, kind of like ordering a 'breakfast platter' at a hotel or something, they just bring you something to eat and you're happy!" the post read.

He continued: "I like things like onions, peppers, sausage, mushrooms, tomatoes, pepperoni, etc.. just standard stuff no weird fish topping or anything like that. I also like regular cheese pizzas which may be cheaper to prepare or otherwise acquire. If you're interested please let me know and we can work out a deal."

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'Bitcoin Pizza Day': Why 2 Pies Are Now Worth $5 Million

Bitcoin hater Schiff now selling gold for bitcoins

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Schiff: Bitcoin resembles tulip bubble

The Winklevoss twins call bitcoin "gold 2.0," but longtime gold investor Peter Schiff laughs at the comparision. With CNBC's Jackie DeAngelis and the "Futures Now" traders.

To be sure, the partnership does not mean that Euro Pacific is taking any direct position in bitcoin. BitPay converts the bitcoins from customers into the U.S. dollars in which Euro Pacific will be paid.

"By partnering up with BitPay, I'm not actually accepting bitcoins," Schiff said. "It's just that if you do have bitcoins, you can make the exchange using BitPay. You give BitPay your bitcoins, they'll turn around and give me dollars, and then I'll ship you your gold."

But it's more than a mere marriage of convenience. For Schiff, bitcoin investors make for natural gold investors.

"The people who have bitcoins, they're worried about central banks, they're worried about fiat currency, they're worried about inflation, and so they bought bitcoins to protect themselves. I think it's a very fertile market for precious metals. I think somebody who's already worried about these things is more likely to want to buy gold than someone who doesn't have any bitcoins."

That's why it could make a good deal of sense for Euro Pacific to pair with BitPay.

"Why wouldn't I want people who have bitcoins to be able to use their bitcoins to buy gold or silver through my precious metals company? I mean, it doesn't cost me anything to pair up with [BitPay] so there's no downside to me. Maybe I get some extra business, and maybe some people preserve their gains," Schiff said.

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Bitcoin hater Schiff now selling gold for bitcoins

BitPay and Toshiba 6,000 New Bitcoin Merchants — Circle is a Bitcoin Bank — 2014 Keynote – Video

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BitPay and Toshiba 6,000 New Bitcoin Merchants -- Circle is a Bitcoin Bank -- 2014 Keynote
HK Bitcoin ATM grand opening this Sunday! http://hkbitcoinatm.com/ May 16, 2014 -- San Jose, California -- Fresh. Smooth. Real. It #39;s all here. MadBitcoins -- And the winner for Coin of the...

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BitPay and Toshiba 6,000 New Bitcoin Merchants -- Circle is a Bitcoin Bank -- 2014 Keynote - Video


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