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Bitcoin Basics and Regulation Thoughts from NH Liberty Forum – Bruce Fenton – Video

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Bitcoin Basics and Regulation Thoughts from NH Liberty Forum - Bruce Fenton
Bruce Fenton, founder of the Bitcoin Association (bitcoinassociation.org) speaks at Liberty Forum 2014 in New Hampshire. He is also founder of Atlantic Finan...

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Bitcoin Basics and Regulation Thoughts from NH Liberty Forum - Bruce Fenton - Video

5/1/14 – Larry Summers warns critics, Paym system & Bitcoin Center NYC roundtable – Video

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5/1/14 - Larry Summers warns critics, Paym system Bitcoin Center NYC roundtable
http://moneyandtech.com/may1-news-update/ Here is your news update for today in Money Tech: Former Secretary of the US Treasury Larry Summers weighed in on digital currencies in a Wall...

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5/1/14 - Larry Summers warns critics, Paym system & Bitcoin Center NYC roundtable - Video

Bitcoin: How We Got Here and Where We Are Going

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NEW YORK (TheStreet) -- Bitcoin has spent the entire month of April trading in a no mans land. After opening at $455 on April 1, BTC/USD first fell to a low of $342 only to later rally to a monthly high of $544.90.

Prices were unable to keep the upward momentum however and BTC quickly dropped below the important $500 mark. One bitcoin is currently going for $435.50 on BTC-E and $442 on BitStamp. This is less than 5% from the monthly open of $455.

It's been a tough few months for the fledging cryptocurrency. The move up that began below the $200 mark all the way up to $1090 was largely underpinned by increased market adoption in China. After the communist establishment became increasingly hostile to bitcoin, the legs of the rally were cut off. The first ''ban'' was against using btc as a form of payment for goods and services. Next on the chopping block was access to the Chinese banking system. Add in some transaction malleability, the bankruptcyof the once dominant bitcoin exchange Mt. Gox, and it's not a surprise that we're currently trading over 50% below the $1,090 peak.

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Bitcoin: How We Got Here and Where We Are Going

'Dark Wallet' wants to make Bitcoin even harder to trace

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A group of coders has launched a Bitcoin wallet that will make it more difficult to trace transactions using the digital currency.

Dark Wallet is a browser app for bitcoin payments that uses both encryption and CoinJoin technology.

CoinJoin essentially mixes multiple bitcoin transactions, selected at random, as one transfer of funds and conceals the original payers.

A similar technology called Shared Coin was implemented last November in the Bitcoin wallet on Blockchain.info. The site says the feature allows users to route transactions through a shared wallet breaking the chain of transactions.

However, Dark Wallet offers anonymous transactions by default.

Dark Wallet. (Click to enlarge.)

The political orientation of Dark Wallets backers unSystem attracted attention to the app when it was launched on the Indiegogo crowdfunding website, where it raised more than $52,000 last December.

Bitcoin is the next battle ground in the fight against supranational political domination, wrote the backers, including Cody Wilson, known for creating the worlds first 3D-printed gun.

On Twitter, Wilson retweeted a link to a Wired article in which he is quoted as saying about Dark Wallet: Its just money laundering software.

Wilson was not immediately available for comment.

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'Dark Wallet' wants to make Bitcoin even harder to trace

Bitcoin Weekly 2014 April 30: Bloomberg adds Bitcoin to their market index, MIT to produce campus-wide bitcoin …

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A day late, but not a bitcoin short, the Bitcoin community is seeing some recognition this week in the financial sector with Bloomberg adding a Bitcoin market index to their professional services. Two MIT students will be giving $100 worth of bitcoins to pupils on campus to start a small bitcoin economy and study spending trends. Mexico just got its first Bitcoin exchange, and a lot of reasons to make use of the virtual currency to provide easier money transfer services.

Read on to see this weeks Dr. Bitcoin and more.

Bloomberg to list Bitcoin market prices

Bloomberg has started providing market prices for Bitcoin to over 32,000+ subscribers to the Bloomberg Professional service.

In a post on Bloombergs official blog the service will pull its market information about Bitcoin from the Coinbase and Kraken exchanges. This is part of a push to start tracking information on virtual currencies, writes Bloomberg, which will be included alongside Bitcoin values. As live Twitter feeds have been integrated into Bloombergs professional trading platform, users will also be able to watch data coming in about other currencies.

To access this information, users need only type the code VCCY on the Bloomberg Professional service.

The fact that Bloomberg only pulls an index from two exchanges when the Bitcoin marketplace contains a multitude of exchanges has brought a sense of wariness to some coverage. For example, The Wall Street Journals coverage carefully mentions that it only cites two exchanges. According to the BitcoinAverage bitcoin price index the three biggest exchanges by volume are Bitstamp, BTC-e, and Bitfinex making up 94.5% of the known market. Kraken represents only 0.04% of the total volume and Coinbase does not publish its volume for buying/selling BTC.

Still, there are many reasons to see Bloomberg listing Bitcoin prices as a source of legitimacy for the currency. Bloomberg itself is in competition with other financial services when it comes to trade and investment and being first-to-market when it comes to indexing pricing may lead others to do the same.

Two MIT students plan a half-million dollar Bitcoin economy

MIT, the birthplace of brilliant minds and innovative technologies, will become the first campus with its own working Bitcoin economy. Two students have raised half a million dollars to distribute $100 worth of bitcoins (about 0.22 BTC) to every MIT student.

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Bitcoin Weekly 2014 April 30: Bloomberg adds Bitcoin to their market index, MIT to produce campus-wide bitcoin ...

MIT Goes Bitcoin-Wild

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Every incoming MIT undergrad will get a little bit of bitcoin to play around with upon entering the university this fall. The idea is to create a community of virtual currency users who can experiment with the nuances of this new type of economy on a small scale. The project's goal is to spur both academic and entrepreneurial activity in a tech-savvy group of individuals.

The Massachusetts Institute of Technology's Bitcoin Club plans to distribute US$100 worth of bitcoin to each of its 4,528 incoming undergraduates this fall, in an attempt to create an ecosystem for digital currencies at the institution.

Club founder and president Dan Elitzer and sophomore Jeremy Rubin have raised more than $500,000 for the MIT Bitcoin Project from MIT alumni, as well as the Bitcoin community.

Neither Rubin nor Elitzer has any connection to Bitcoin in any way. "Our investment is simply in our time, and belief in the benefits cryptocurrencies could bring to society," Rubin told the E-Commerce Times.

They will work with professors and researchers across MIT to study how students will use the bitcoins they receive. The project will seek to spur academic and entrepreneurial activity within MIT in the field of virtual currency.

"We think Bitcoin and [other] cryptocurrencies have a place on the global stage, and MIT is the institute to show the world what can be done," Rubin said.

"The MIT project will raise the profile of Bitcoin in an already digitally informed MIT student class," Jeffrey Garzik, Bitcoin core developer and open source evangelist at BitPay. "Bitcoin is a natural fit for teenagers who have for years been connecting with their peers via smartphone and tablet."

Although several other cryptocurrencies are available, Bitcoin was selected because "we ... think that the network effects of Bitcoin are critical," Rubin said.

Further, research currently is being conducted on how to augment the features of other current cryptocurrencies into Bitcoin directly, "as they are mostly modifications into the core Bitcoin code, with a few notable exceptions," he pointed out.

Alternate cryptocurrencies "are interesting," BitPay's Garzik remarked. "The barrier to entry is low ... . Many alt-coin creators do not fully understand the technology they are using, and do not treat their software as mission-critical financial software securing millions of dollars."

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MIT Goes Bitcoin-Wild


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