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Free Bitcoin Faucet Tutorial :: How to earn free Bitcoin at btc-faucet.com – Video

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Free Bitcoin Faucet Tutorial :: How to earn free Bitcoin at btc-faucet.com
Learn how to use a Bitcoin faucet with this quick tutorial. Do you need a Bitcoin, Litecoin or Dogecoin Wallet Address? Open a free and secure account at http://www.block.io/#_l_4p.

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Free Bitcoin Faucet Tutorial :: How to earn free Bitcoin at btc-faucet.com - Video

Bitcoin Foundation hit hard by big bitcoin losses

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The Bitcoin Foundation, formed in 2012 to promote the virtual currency, has rejected claims by a board member that its bankrupt but has acknowledged significant financial problemsironically as a result of a big drop in the value of its bitcoin holdings.

On Tuesday its board of directors rejected claims made a day earlier by board member Olivier Janssens that it was effectively bankrupt, but said the bitcoin roller coaster has forced it to drastically cut back its operations.

In early 2013 a bitcoin was valued at around $14 but that soared to $1,145 by November that same year, according to Coinbase. Three weeks later, it had collapsed to $569 and continued wide swings throughout much of 2014. Today, a bitcoin is worth about $258.

Those swings add up to bad news for the organization.

The drop in bitcoin price drastically affected the Foundations bottom line as the majority of assets were held in bitcoin, it said.

As a result, the foundation has cut programs to concentrate on one mission: development of the Bitcoin Core Protocol. Staff numbers have also been cut, although the foundation rejected Janssens claim that 90 percent had been fired.

Some team members left voluntarily and agreed to continue helping on a volunteer basis to help the Foundation during this financially austere time, it said.

The foundation hasnt revealed exactly how many bitcoins it holds, but a filing with the Internal Revenue Service said the holding was worth $4.5 million at the end of 2013. Based on figures from Coinbase, that was equivalent to just over 6,000 bitcoins. Today, those bitcoin would be worth $1.5 million.

The current state of the foundations finances should become clearer in the coming weeks when its latest IRS filing, covering 2014, becomes public.

And when it does, the board might face questions about why they didnt diversify the foundations assets to put it on a more stable base, instead choosing to keep them all in a volatile investment.

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Bitcoin Foundation hit hard by big bitcoin losses

Bitcoin Foundation hit by big bitcoin losses

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Foundation says it's not bankrupt, but has been hit hard by the currency it's trying to promote

The Bitcoin Foundation, formed in 2012 to promote the virtual currency, has rejected claims by a board member that it's bankrupt but has acknowledged significant financial problems -- ironically as a result of a big drop in the value of its bitcoin holdings.

On Tuesday its board of directors rejected claims made a day earlier by board member Olivier Janssens that it was "effectively bankrupt," but said the bitcoin roller coaster has forced it to drastically cut back its operations.

In early 2013 a bitcoin was valued at around $14 but that soared to $1145 by November that same year, according to Coinbase. Three weeks later, it had collapsed to $569 and continued wide swings throughout much of 2014. Today, a bitcoin is worth about $258.

Those swings add up to bad news for the organization.

"The drop in bitcoin price drastically affected the Foundations bottom line as the majority of assets were held in bitcoin," it said.

As a result, the foundation has cut programs to concentrate on one mission: development of the Bitcoin Core Protocol. Staff numbers have also been cut, although the foundation rejected Janssens' claim that 90 percent had been fired.

"Some team members left voluntarily and agreed to continue helping on a volunteer basis to help the Foundation during this financially austere time," it said.

The foundation hasn't revealed exactly how many bitcoins it holds, but a filing with the Internal Revenue Service said the holding was worth $4.5 million at the end of 2013. Based on figures from Coinbase, that was equivalent to just over 6,000 bitcoins. Today, those bitcoin would be worth $1.5 million.

The current state of the foundation's finances should become clearer in the coming weeks when its latest IRS filing, covering 2014, becomes public.

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Bitcoin Foundation hit by big bitcoin losses

Rand Paul is first presidential candidate to accept donations in Bitcoin

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It marks the first time that a candidate for president has accepted purely digital campaign funds.

The Libertarian Republican is an obvious choice to test the waters. Bitcoins are an independent currency that's totally outside the realm of U.S. dollars. It's like Euros or Yen -- except bitcoins are created and distributed privately by a community of tech enthusiasts.

Bitcoin fits in with Paul's views that government should take a more "hands off" approach to controlling the nation's money supply, which drives up inflation and devalues the currency. He's also likely trying to draw the attention of young, tech-savvy voters.

Paul, a U.S. senator from Kentucky, announced his bid on Tuesday. His website shows he's also accepting donations in credit cards and from PayPal.

Related: What is Bitcoin?

Bitcoin is frequently associated with tech geeks and crime. That's because it's a highly complex system that has famously been used on black markets online.

However, it's much more than that. It's a creative new system of money that allows for immediate, secure transactions with very low fees.

Startups are trying to build networks so that people in rich countries can more easily send money to family members in poor countries. Major banks are experimenting with ways to make faster and more convenient person-to-person payments.

There's also a concern that -- because bitcoins function outside the banking system -- they're harder to trace. That's a dangerous implication for mysterious, untraceable donations.

But that's largely unfounded. Contrary to popular belief, bitcoins are perfectly traceable (like email). And new rules from the Federal Election Commission say that politicians have to register new donors just like they do with regular U.S. dollars anyway.

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Rand Paul is first presidential candidate to accept donations in Bitcoin

Google Ventures-Backed Bitcoin Exchange Buttercoin Is …

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Buttercoin, a bitcoin exchange startup backed by Y Combinator and Google Ventures, is closing its doors this monthafter failing to raise new investment.

Buttercoin will be turning off our service on April 10th at 11PM Pacific, the company said in a note onits website. Be sure to move your bitcoins to another service and remove your dollar balances by Friday April 10th at 11PM.

Any unclaimed funds will be returned to the accounts that they came from, the company added.

Unlike other bitcoin shutdowns, which are often triggered by hacks and result in customers losing money, Buttercoin is solvent and will provide users with their balance in full. The startup said it is winding down because it wasnt able to raise new funding thats something it attributes to a dip in bitcoin interest among Silicon Valley investors.

Buttercoin launched in 2013with the aim of tackling the global remittance space, aka money that migrant workers send to their relatives backhome. Its a huge opportunity The World Bank estimates that some $515 billion will be sent in developing countries this year and Buttercoins take was ambitious, it wanted to open local exchanges in a range of countries to facilitate cheaper cross-border currency transfer.

Buttercoin raised a total of $1.6 million from investors, includingGoogle Ventures Kevin Rose and Chris Hutchins, Reddit founder Alexis Ohanian, Floodgate, Initialized Capital, Rothenberg Ventures andSwitzerlands Centralway,via its first early-stage investment fund.

Yet, despite those influential backers, it looks like investors are less keen to be involved in bitcoin.Beyond the valuation of the cryptocurrency, which has found somestability this year asthe chart from Coindeskbelow shows the bitcoin exchange market has found relative maturity. The rise ofCoinbase, Bitpay and a handful of others which have sucked upmillions from investors and won big clients makes the chances of a smaller player breaking through less likely. Even when that player is backed by reputed people and institutions.

Might this be the first of many casualties from the consolidation of bitcoin? We shall find out.

The value of bitcoin versus the US dollar over the past year

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Google Ventures-Backed Bitcoin Exchange Buttercoin Is ...

Bitcoin Foundation board director says company is bankrupt

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Home News Apps Bitcoin Foundation board director says company is bankrupt The financial future of one of the biggest backers of bitcoin is hanging in the balance according to directors within the company.

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The Bitcoin Foundation, an organisation that promotes development of bitcoin, is "effectively bankrupt" and has shed most of its staff, a member of the foundation's board of directors has said.

Two other board members, however, said the foundation was not bankrupt, though in need of some kind of restructuring.

The outburst by Olivier Janssens, who was elected to the board last month, is the latest in a series of controversies surrounding the foundation, which was founded in the U.S. in 2012 as a nonprofit entity.

"The foundation has almost no money left, and just fired 90 percent of its people. Some will stay on as volunteers," Janssens wrote in a blog post on the foundation's forum.

"The Bitcoin Foundation hates transparency," he added. "If they would have been transparent then everyone would know there is no money left."

Janssens attributed the foundation's financial straits to two years of "ridiculous spending and poorly thought out decisions," adding that the board has tried to remedy the situation by finding a new executive director. He called for the replacement of the entire board.

Described as a bitcoin millionaire, Janssens wrote that he will donate "several 100k" to a special trust fund aimed at supporting core development of the digital currency and supplemented by crowdfunding efforts.

The foundation did not immediately respond to a request for information about Janssens' post. But Patrick Murck, its executive director, wrote in a response to Janssens' post, "The foundation is not bankrupt, but a restructuring is needed. Olivier basically jumped in front of our announcements on that and our annual report on the 2014 finances to be released next week, and he spun it very very negative."

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Bitcoin Foundation board director says company is bankrupt

Bitcoin Foundation Is 'Effectively Bankrupt,' Considers Restructuring: Report

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The Bitcoin Foundation, the nonprofit that has led adoption and standardization efforts for the open-source cryptocurrency, is considering restructuring into two smaller organizations, just days after one of its board members said it was effectively bankrupt.

The foundation itself has no control over the open-source Bitcoin, but it has taken a strong role in organizing the community and calling for standardization and adoption.

On Tuesday, Bitcoin Magazinereportedthat the foundation was considering splitting into two parts, one focused on maintaining and developing the currencys core database, and the other as a promotional organization designed to foster the currencys growing community.

Olivier Janssens, the groups newest board member who was elected last month, wrote a scathing forum post on Saturday, claiming the foundation was out of money and had shed most of its staff, hiding these problems from its members.

The Bitcoin Foundation hates transparency. If they would have been transparent then everyone would know there is no money left. ... The Foundation has almost no money left, and just fired 90% of its people. Some will stay on as volunteers, he wrote. If I get asked to leave the Foundation for telling the truth, so be it. The truth is being told.

He blamed the foundations problems on two years of ridiculous spending and poorly thought out decision, and said the boards plan to find a new executive director is insufficient, calling for the entire board to be replaced.

"My big issue was that they did not tell the membership about the real financial status," Janssens told Ars Technica. "You cant be a member-run non-profit and still try to get money from your corporate or individual sponsors while hiding the fact that youre near-bankrupt. Thats the reason I came forward, I could not live with that. Thats up to the members to decide."

Janssens previously threatened to give up his lifetime membership in 2014, after a board member, Brock Pierce, was linked to a sex abuse case, but ultimately decided against it.

In a response on Saturday, board member Patrick Murck refuted the claims."The Foundation is not bankrupt, but a restructuring is needed. Olivier basically jumped in front of our announcements on that and our annual report on the 2014 finances to be released next week, and he spun it very very negative," he wrote.

Previous board members of the Bitcoin Foundation have been embroiled in controversies. One of its founders, Charlie Shrem, pleaded guilty to transmitting money that was linked to the illegal Silk Road marketplace, and another, Mark Karpeles, who was the head of Mt. Gox, the worlds largest trade site for Bitcoins, when it collapsed.

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Bitcoin Foundation Is 'Effectively Bankrupt,' Considers Restructuring: Report

The Bitcoin Foundation is out of cash, says board member

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The Bitcoin Foundation, an organization that promotes development of bitcoin, is effectively bankrupt and has shed most of its staff, a member of the foundations board of directors has said.

Two other board members, however, said the foundation was not bankrupt, though in need of some kind of restructuring.

The outburst by Olivier Janssens, who was elected to the board last month, is the latest in a series of controversies surrounding the foundation, which was founded in the U.S. in 2012 as a nonprofit entity.

The foundation has almost no money left, and just fired 90 percent of its people. Some will stay on as volunteers, Janssens wrote in a blog post on the foundations forum.

The Bitcoin Foundation hates transparency, he added. If they would have been transparent then everyone would know there is no money left.

Janssens attributed the foundations financial straits to two years of ridiculous spending and poorly thought out decisions, adding that the board has tried to remedy the situation by finding a new executive director. He called for the replacement of the entire board.

Described as a bitcoin millionaire, Janssens wrote that he will donate several 100k to a special trust fund aimed at supporting core development of the digital currency and supplemented by crowdfunding efforts.

The foundation did not immediately respond to a request for information about Janssens post. But Patrick Murck, its executive director, wrote in a response to Janssens post, The foundation is not bankrupt, but a restructuring is needed. Olivier basically jumped in front of our announcements on that and our annual report on the 2014 finances to be released next week, and he spun it very very negative.

While saying that the money has basically run out, board member Gavin Adresen wrote in another response that The foundation isnt bankrupt, but the board needs to decide whether the responsible thing to do is to continue the organization with a much smaller organization and vision or to dissolve it.

The Bitcoin Foundation is no stranger to controversy. Among its founding members are Charlie Shrem, who pleaded guilty to transmitting money linked to the Silk Road online drugs site, and Mark Karpeles, who presided over the collapse of MtGox, once the worlds largest trading place for bitcoin.

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The Bitcoin Foundation is out of cash, says board member

Bitcoin Foundation said to be out of cash

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Newly elected board member Olivier Janssens blamed 'ridiculous spending' and bad decisions

The Bitcoin Foundation, an organization that promotes development of bitcoin, is "effectively bankrupt" and has shed most of its staff, a member of the foundation's board of directors has said.

Two other board members, however, said the foundation was not bankrupt, though in need of some kind of restructuring.

The outburst by Olivier Janssens, who was elected to the board last month, is the latest in a series of controversies surrounding the foundation, which was founded in the U.S. in 2012 as a nonprofit entity.

"The foundation has almost no money left, and just fired 90 percent of its people. Some will stay on as volunteers," Janssens wrote in a blog post on the foundation's forum.

"The Bitcoin Foundation hates transparency," he added. "If they would have been transparent then everyone would know there is no money left."

Janssens attributed the foundation's financial straits to two years of "ridiculous spending and poorly thought out decisions," adding that the board has tried to remedy the situation by finding a new executive director. He called for the replacement of the entire board.

Described as a bitcoin millionaire, Janssens wrote that he will donate "several 100k" to a special trust fund aimed at supporting core development of the digital currency and supplemented by crowdfunding efforts.

The foundation did not immediately respond to a request for information about Janssens' post. But Patrick Murck, its executive director, wrote in a response to Janssens' post, "The foundation is not bankrupt, but a restructuring is needed. Olivier basically jumped in front of our announcements on that and our annual report on the 2014 finances to be released next week, and he spun it very very negative."

While saying that "the money has basically run out," board member Gavin Adresen wrote in another response that "The foundation isn't bankrupt, but the board needs to decide whether the responsible thing to do is to continue the organization with a much smaller organization and vision or to dissolve it."

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Bitcoin Foundation said to be out of cash

Rand Pauls genius political move to take your donations by Bitcoin

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Rand Paul, the firebrand libertarian senator from Kentucky, is running for president. And early donors to his campaign are already noting how Paul is setting himself apart from the pack.

He's taking your donations in Bitcoin.

[Rand Paul announces presidential run]

Paul's Web site will accept traditional payment methods, too, of course, such as credit cards. But the GOP contender is the first declaredcandidate in the 2016 race to fund his White House bid withvirtual currencies. It's possible Paul is thefirst presidential candidate in U.S. history to do so, in the latest sign of how politics and technology now frequently overlap.

Paul has long admired virtual currencies. He's even thought about ways he would improve upon Bitcoin, which, for the unfamiliar, is a form ofdigital cash that can be spent on real-world goods and services.

So it's no surprise that he'd turn to it as a way to juice his campaign. But there's a longer-term strategic play, here, one that speaks to Paul's appeal among tech-focused libertarians in Silicon Valley and young people who are eager early adopters of new services. As my colleague Katie Zezima wrote this morning:

[Paul is] opening offices in Austin and Silicon Valley and using platforms like Snapchat to broaden his appeal to younger voters who may not respond to traditional political ad buys or outreach efforts. Paul is also trying to tap into the vast well of tech money, holding meetings with big-pocketed potential donors in California and other tech hubs.

This raises a key question for Paul's campaign: Just how big is the techno-libertarian audience he's trying to reach? Although there's been substantial polling about Americans' libertarian leanings in general, their technological bent is less well-defined. Some surveys suggest video gamers identify more closely than others with libertarian beliefs. One (completely unscientific) reader survey conducted last year by the tech site Pandodaily suggested that the tech scene is still held primarily by liberals, with libertarians coming in a close second.

Still, going after that crowd doesn't hurt his party, which needs to attract younger voters to succeed in the coming cycle.

Meanwhile, by encouraging voters to donate with Bitcoin, Paul gets to take advantage of another benefit: Transactions by Bitcoin will probably cost his campaign far less in merchant fees, increasing his revenue slightly on every Bitcoin transaction. Over hundreds or even thousands of donations, those savings could add up.

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Rand Pauls genius political move to take your donations by Bitcoin


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