2014 Bitcoin Introduction Tutorial (Simplified) Q&A 3/3 @internetweekNY @xCubicle – Video

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2014 Bitcoin Introduction Tutorial (Simplified) Q A 3/3 @internetweekNY @xCubicle
A very simplified and easy to understand concept on what is bitcoin and bitcoin mining. We also go over Alt-coin Decentralized Assets such as Color Coins. This talk was given at the Internet...

By: Xcubicle S

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2014 Bitcoin Introduction Tutorial (Simplified) Q&A 3/3 @internetweekNY @xCubicle - Video

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

Comets Cruise to Regional Final

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Stew-Stras/Windsor softball (19-6) didnt let St. Elmo/Brownstown sneak up on them in the regional semi on Tuesday. The Comets cruised to a 6-1 win.

Stew-Stras/Windsor scalded St. Elmo a week ago, 10-1. Becca Schlechte threw that win. Then they lost to St. E/B on Tuesday, 8-3, with Schlechte on the mound.

This time they sent Kendall Knop to the circle. Kendall Knop ran her record to 12-4, allowing five hits in seven innings, but just one run, while ringing up three.

St. Elmo drew first blood with a run right off the bat in the 1st, then held SS/W scoreless in the 1st. But, the Eagle couldnt contain the Comets in the 2nd. SS/W doubled up St. E/B and came back for another run in the 3rd.

After that early Eagle run, the Comets shut down St. Elmo, keeping them scoreless in the final six innings. Meanwhile, leading 3-1 in the 5th, the Comets added another insurance run. In the 6th, they extended to the 5-run lead with another two runs.

Senior Courtney Schultz, headed to college on a softball scholarship, led the attack hitting 2-for-3 with a home run and two RBIs. Lindsay Burton was 2-for-4 with a double and an RBI. Madison Quast drove in two more runs and Bayleigh Tabor was 1-for-2 with another double.

Stew-Stras/Windsor (#2) plays Altamont (#1) in the Altamont Regional final on Saturday at 11 a.m.

Tuesday

Altamont Regional Semi

Stew-Stras/Windsor 6, St. Elmo/Brownstown 1

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Comets Cruise to Regional Final

High flying Workington Comets aim to continue unbeaten run

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Last updated at 11:39, Friday, 23 May 2014

Workington Comets aim to continue their unbeaten Premier League campaign tonight when they entertain Berwick Bandits (7.30pm).

Tony Jackson

And the Comets will complete the weekend double-header when they travel to the east coast tomorrow night (7pm).

The back-to-back meetings promise to be tight affairs with both teams having won their opening two league matches.

The Bandits were the Comets first-ever opponents when speedway came to Derwent Park in 1970.

The teams have already faced each other twice this season in the League Cup, with Bandits edging the first encounter at home 46-44, but Comets getting revenge in the return leg, triumphing 51-38.

Team manager Tony Jackson said: Our matches with Berwick are always keenly-contested affairs and I am sure that these two fixtures will be no different.

After a two-week break from home meetings, the riders are keen to get back into action on their own track in front of their own supporters.

And Im sure that there will be plenty of supporters that make the journey over to Berwick tomorrow to support the team, which they really do appreciate.

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High flying Workington Comets aim to continue unbeaten run