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Category Archives: Cryptocurrency

Reddit Raises $50 Million For Cryptocurrency Shares & Users Will Get 10% – Video

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Reddit Raises $50 Million For Cryptocurrency Shares Users Will Get 10%
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Reddit Raises $50 Million For Cryptocurrency Shares & Users Will Get 10% - Video

Cryptocurrency Round-Up: Bitcoin Bounces Back and FBI's Silk Road Hacking was 'Reasonable'

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Bitcoin and other cryptocurrency markets see prices increase following days of decline.(IBTimes UK)

The price of bitcoin has received a much needed boost, bouncing back up above $350 following an 8% rise in value since yesterday.

The price increase has had a positive knock-on effect across all other major markets, with none of the top twenty most valuable cryptocurrencies seeing any negative movement in the last 24 hours.

The biggest gains amongst the big players come from darkcoin and namecoin, which both saw a 10% increase that took their market capitalisations above $10 million once again.

Bitcoin Foundation comments on BitLicense proposal

The Bitcoin Foundation has highlighted the need for public access to the "extensive research and analysis" cited by the New York Department of Financial Services's (NYDFS) in its BitLicense proposal.

Jim Harper, global policy counsel for the Bitcoin Foundation, said that the proposed BitLicense regulation should not "sacrifice bitcoin's benefits" if the outcome is unknown or merely speculative.

"A regulatory regime that is markedly out of step with others is very likely to create inefficiency in national and global markets, which would suppress competition, hamper the delivery of benefits to consumers and frustrate consumers," Harper said.

FBI's warrantless hacking of Silk Road was 'reasonable'

Prosecutors in the case of Ross Ulbricht, the alleged creator of the black market site Silk Road, have claimed that hacking the site without a warrant would have been lawful.

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Cryptocurrency Round-Up: Bitcoin Bounces Back and FBI's Silk Road Hacking was 'Reasonable'

Cryptocurrency Exchange Cryptsy Integrates With eSpend Ripple Gateway Technology

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Las Vegas, NV (PRWEB) October 09, 2014

eSpend (http://www.espend.com), a California financial technology company, has integrated Cryptsy, a Florida crypto-currency exchange, with the Ripple network. eSpends Ripple gateway software lets Cryptsy provide its customers with the ability to trade XRP, the Ripple networks native currency, against Cryptys current 130-plus currencies including USD. In the near future, Cryptsy intends to become a full-fledged Ripple gateway that allows all currencies to be transferred and traded on the Ripple network.

We have been wanting to get XRP on Cryptsy for a long time now, said Paul Vernon, CEO and founder of the Cryptsy exchange. The team at eSpend has made it easy and we look forward to working with them to bring in more of Ripples features.

Ripple is an open-source payments protocol developed by Ripple Labs. The Ripple protocol features a peer-to-peer, multi-currency exchange on a distributed, open order book, and cross-currency payments that settle in approximately 5 seconds thanks to Ripple's unique pathfinding and consensus algorithms. The protocol uses XRP to prevent abuse of the network, which market makers can use as a bridge currency between exotic foreign exchange pairs to increase capital efficiency. By integrating XRP with its exchange, Cryptsy now offers customers the fastest way to move liquid capital between exchanges for arbitrage purposes.

"We're excited to see eSpend and Cryptsy expand the Ripple ecosystem," said Chris Larsen, co-founder and CEO of Ripple Labs. "Cryptsy's gateway integration will make more than 90 new alternative currencies more liquid - tradable on Ripple's worldwide asset exchange, and spendable through debit card offerings built on Ripple.

Cryptsy is the first eSpend client to integrate with eSpend's Ripple gateway technology, which has been in development since early 2014. After a successful trial period with eSpend's XRP bridge technology, Cryptsy will enter stage two of the gateway integration. Cryptsy customers will then be able to withdraw their Cryptsy balances to their own Ripple wallet and trade those balances against any other asset being traded on Ripple's open order book, including USD, EUR, CNY, JPY, XAU, XAG, BTC and more. In order to encourage user participation, Cryptsy will be offering 0% trade fees on XRP markets until October 15th.

eSpend's Ripple gateway technology has been developed with institutional fund custodians and market makers in mind, including banks, credit unions, asset exchanges, brokerages, and foreign exchange firms. This new technology is designed to be fully compliant with KYC and AML regulations while enabling real-time settlement of cross-border and interbank payments with no foreign exchange risk and no need for correspondent banking relationships. Cryptsy is the first of several companies that are in the process of integrating with eSpend technology, with more exchange and bank partners soon to be announced.

For more information about eSpend, please contact info(at)espend(dot)com; For media inquiries: espend(at)transform(dot)pr

All product and company names herein may be trademarks of their registered owners.

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Cryptocurrency Exchange Cryptsy Integrates With eSpend Ripple Gateway Technology

Cryptocurrency Round-Up: Branson Backs Blockchain and Overstock Plans Bitcoin-Based Stock Market

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Cryptocurrency markets stabilise, while Blockchain receives funding and Overstock plans stock exchange(IBTimes UK)

Following a tumultuous few days for bitcoinand other cryptocurrencies, most major markets seem to have stabilised over the last 24 hours.

Bitcoin, litecoin and darkcoin all shifted by less than 1% in value since yesterday, while dogecoin saw some positive movement to take its market capitalisation back up above $27m.

Blockchain raises $30m

Bitcoin wallet firm Blockchain has announced record Series A funding, raising over $30m in capital in its first round of outside financing that included notable investors such as British entrepreneur Sir Richard Branson.

Blockchain is the largest provider of bitcoin wallets in the world, with over 2.3 million consumer wallets being downloaded since the company was founded in 2011.

"The company has grown exponentially in every way over the last 18 months," Peter Smith, president of Blockchain, said in a statement.

"We are honoured to add investors and partners to the team with deep expertise in financial services and consumer technology."

Overstock to create bitcoin-based stock market

Online retailer Overstock has announced it is working on a decentralised stock market based on the bitcoin block chain protocol.

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Cryptocurrency Round-Up: Branson Backs Blockchain and Overstock Plans Bitcoin-Based Stock Market

Reddit’s Cryptocurrency Could Have Many Uses – Forbes

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Reddit is considering creating a cryptocurrency backed by shares of the company. These shares would then be redistributed back to the community in recognition of the role it has played in the sites success.

Or that at least is the plan for some of the $50 million the company raised in funding from a group of investors that include Sam Altman, president of Y Combinator, Alfred Lin of Sequoia Capital and Marc Andreessen of Andreessen Horowitz.

Other investors participating in the round, according to CEO Yishan Wongs blog post on the subject, include Peter Thiel, Ron Conway, Paul Buchheit, Jared Leto, Jessica Livingston, Kevin and Julia Hartz, Mariam Naficy, Josh Kushner, Snoop Dogg, and Yishan Wong.

The capital will be applied to a number of projects, Wong wrotethe company plans to hire more staff for product development, expand the community management team, build better moderation and community tools, work more closely with third party developers to expand its mobile offerings, improve the self-serve ad product, build out Redditgifts marketplace and invest in the infrastructure.

The investors also pledged to give back 10 percent of their shares to the community. In the comments section, Wong went into more detail about how that could occur.

We are thinking about creating a cryptocurrency and making it exchangeable (backed) by those shares of reddit, and then distributing the currency to the community. The investors have explicitly agreed to this in their investment terms.

Nothing like this has ever been done before. Basically we have to nail down how to do each step correctly (it is technically, legally, and financially complex), though in our brief consultation with an ex-SEC lawyer, he stated he could find nothing illegal about this plan. Nevertheless, there are something like 30 different things we have to pull off to make this work, so were going to try.

Wong freely acknowledges the plan could fail and if it does, its back to the drawing board for a plan to reward the community.

But it is unlikely Reddit would junk the entire project without salvaging something from it.

Last month Daily Dot noted that Reddit was seeking a cryptocurrency engineersomeone with a background in math or computer science to explore new technology applications and infrastructure involving the blockchain and cryptocurrency.

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Reddit's Cryptocurrency Could Have Many Uses - Forbes

BITNEWS: Reddit Closes $50 Million Raise And Goes After Its Own Cryptocurrency – Video

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BITNEWS: Reddit Closes $50 Million Raise And Goes After Its Own Cryptocurrency
Reddit Closes $50 Million Raise And Goes After Its Own Cryptocurrency Congratulations reddit! Get More Details Here: http://www.followthecoin.com/?p=3384 Lik...

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BITNEWS: Reddit Closes $50 Million Raise And Goes After Its Own Cryptocurrency - Video

Reddit's Cryptocurrency Could Have Many Uses

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Reddit is considering creating a cryptocurrency backed by shares of the company. These shares would then be redistributed back to the community in recognition of the role it has played in the sites success.

Or that at least is the plan for some of the $50 million the company raised in funding from a group of investors that include Sam Altman, president of Y Combinator, Alfred Lin of Sequoia Capital and Marc Andreessen of Andreessen Horowitz.

Other investors participating in the round, according to CEO Yishan Wongs blog post on the subject, include Peter Thiel, Ron Conway, Paul Buchheit, Jared Leto, Jessica Livingston, Kevin and Julia Hartz, Mariam Naficy, Josh Kushner, Snoop Dogg, and Yishan Wong.

The capital will be applied to a number of projects, Wong wrotethe company plans to hire more staff for product development, expand the community management team, build better moderation and community tools, work more closely with third party developers to expand its mobile offerings, improve the self-serve ad product, build out Redditgifts marketplace and invest in the infrastructure.

The investors also pledged to give back 10 percent of their shares to the community. In the comments section, Wong went into more detail about how that could occur.

We are thinking about creating a cryptocurrency and making it exchangeable (backed) by those shares of reddit, and then distributing the currency to the community. The investors have explicitly agreed to this in their investment terms.

Nothing like this has ever been done before. Basically we have to nail down how to do each step correctly (it is technically, legally, and financially complex), though in our brief consultation with an ex-SEC lawyer, he stated he could find nothing illegal about this plan. Nevertheless, there are something like 30 different things we have to pull off to make this work, so were going to try.

Wong freely acknowledges the plan could fail and if it does, its back to the drawing board for a plan to reward the community.

But it is unlikely Reddit would junk the entire project without salvaging something from it.

Last month Daily Dot noted that Reddit was seeking a cryptocurrency engineersomeone with a background in math or computer science to explore new technology applications and infrastructure involving the blockchain and cryptocurrency.

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Reddit's Cryptocurrency Could Have Many Uses

Reddit gets $50m funding, plans new cryptocurrency to share the wealth

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Self-styled front page of the Internet site Reddit.com is flush with case all of a sudden, after confirimg a new $50 million funding round. Its a bucket-load of cash to be sure, but whats more interesting is that the site is promising as much as 10 percent of the amount will be shared with community members through the creation of a new cryptocurrency.

Reddit users do deserve a share of the spoils, for theyve helped make the site the huge success it is today. One thing its particularly good at is spotting Internet trends and news long before the mainstream media does, and of course its a great place to find things like stolen nude celebrity photos or hunt for terrorists.

Reddit CEO Yishan Wong wrote in a blog post that the investors have agreed to hand over 10 percent of their shares to community members, as part of the terms of the deal. However, it seems Reddit doesnt know exactly how its proposed cryptocurrency will work just yet. It could be that the cryptocurrency is used as a kind of ownership token of shares in the site a concept thats been proposed by several crypto 2.0 projects in the past.

Nor is Reddit the only company to announce a plan like this Overstock.com made a similar announcement last July.

Wong attempted to clarify things on the r/blog subreddit, saying that the idea is to create a special-purpose cryptocurrency backed by the values of shared created by this funding round. We are thinking about creating a cryptocurrency and making it exchangeable (backed) by those shares of reddit, and then distributing the currency to the community, wrote Wong. The investors have explicitly agreed to this in their investment terms.

Given the potential benefits for site users, Wong feels the idea is worth trying, although he warns that Reddit is currently just exploring the idea. CAVEAT: KEEP IN MIND THAT THIS PLAN COULD TOTALLY FAIL, he added in a later post.

As for the rest of the money, Reddit plans on using it to bolster its production development staff and community management teams, and to increase its mobile presence. Just this month, Reddit launched an official mobile app for its popular Ask Me Anything sessions, so we can expect to see more developments in this area.

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Reddit gets $50m funding, plans new cryptocurrency to share the wealth

Reddit is planning its own cryptocurrency to give users part ownership of the site

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It seems like theres a cryptocurrency for everything these days, so why not Reddit? The social news site, which calls itself the front page of the internet, has just raised $50 million in venture capital based on a total valuation of $500 million. Reddit CEO Yishan Wong says that 10% of that money is earmarked for the Reddit community itself. As for how to distribute the shares, Reddit is looking at creating its own cryptocurrency similar to Bitcoin, but hopefully more long-lived than Coinye.

With existing cryptocurrencies, users can mine more units of the currency by running increasingly difficult computations on computer hardware. This proof of work entitles them to a certain share of new coins when they are created. In some cases, this computation also works to keep the transaction records in sync so coins cant be spent more than once. Reddits cryptocurrency, however, will be backed by the allocated shares of Reddit.

If this plan is actually put into action, each share would presumably be sliced up into smaller pieces represented by a snippet of code handed out to members of the community. It is unclear how it would be distributed the Reddit user base is vast and many people have multiple accounts. Whoever is granted their own sliver of Reddit could use that Redditcoin however they like sell it, trade it, give it away, or hide it and watch as it appreciates in value.

There are still plenty of legal and logistical challenges standing in the way of making Redditcoins a reality. Its possible the idea will fall apart, but investors did agree to the plan in theory when handing their money over to Reddit. If this doesnt work, Reddit will find another way to give shares of Reddit to the community.If it works, they would be crazy not to call it Reddit Gold, which is the optional premium version of Reddit.

Now read:The best porn and gore of Reddit

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Reddit is planning its own cryptocurrency to give users part ownership of the site

043 CryptoToken Bitcoin LTBcoin Metacoin SoulTradeGame SecondLife CryptoCurrency Money Innovation – Video

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043 CryptoToken Bitcoin LTBcoin Metacoin SoulTradeGame SecondLife CryptoCurrency Money Innovation
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043 CryptoToken Bitcoin LTBcoin Metacoin SoulTradeGame SecondLife CryptoCurrency Money Innovation - Video

040 CryptoToken Cryptocurrency Bitcoin Innovation Funny Money Hashtags Metacoin LTBcoin Ethereum Art – Video

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040 CryptoToken Cryptocurrency Bitcoin Innovation Funny Money Hashtags Metacoin LTBcoin Ethereum Art
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040 CryptoToken Cryptocurrency Bitcoin Innovation Funny Money Hashtags Metacoin LTBcoin Ethereum Art - Video


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