Bitcoin Exchange Mt. Gox Liquidation Process Still Underway

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Bitcoin Exchange Mt. Gox Liquidation Process Still Underway

December 21, 2014

Amanda Marie

The once largest Bitcoin exchange, responsible for approximately 80% of all of the global transactions, will never be revived despite hopes by many that it might have been. A meeting of creditors was held at the end of November, during which trustee Nobuaki Kobayashi announced that Bitcoin exchange Kraken will be assisting in the ongoing investigation of the missing bitcoins. San Francisco based Payward, which operates Kraken, will also be assisting in the investigation and the claims by Mt. Gox customers who ended up losing bitcoins in the collapse of the exchange back in February of 2014.

In the announcement, Kobayashi stated, "The bankruptcy trustee believes that it is very helpful for conducting the bankruptcy proceedings smoothly and for protecting the interests of the bankruptcy creditors to obtain support from a company with expertise in operating a bitcoin exchange business and managing bitcoin transactions."

Kraken, which had recently opened its own exchange for bitcoin in Japan a few weeks prior, had been a hopeful candidate to take over Mt. Gox but the trustee made it clear that Kraken is not going to revive Mt. Gox.

In a blog post, Kraken CEO Jesse Powell stated that, "The outcome of the Mt. Gox bankruptcy proceedings will deeply affect the Bitcoin community as a whole," and he added, "We've decided to volunteer our resources and expertise in an attempt to minimize damage to creditors, restore faith in the Bitcoin community and demonstrate trusted leadership in the industry."

Former Mt. Gox CEO Mark Karpeles, is still cooperating with the trustee and Kraken during the bankruptcy process of Mt. Gox. Karpeles still remains as CEO of Mt. Gox's parent company Tibanne.

Kobayashi said that the bankruptcy estate so far has secured about 202,149 bitcoins, worth approximately $74 million at the current bitcoin value tracked by Coindesk.

Kobayashi also said he may consider taking legal action to force Karpeles to repay 136 million ($1.1 million) he had in loans from Mt. Gox as of April 24th. The trustee also said Tibanne and two of its subsidiaries owe Mt. Gox about 1.1 billion ($10 million).

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Bitcoin Exchange Mt. Gox Liquidation Process Still Underway

Bitcoin ends year in the dumps

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If you think oil had a rough 2014, consider bitcoin.

The digital currency has plunged 54 percent since the beginning of the year.

By contrast, Brent crude has fallen 44 percent; the ruble is off some 46 percent against the dollar.

The dramatic reversal bitcoin reached more than $1,100 in 2013 and is now trading at about $350 is prompting skeptics, who long said the currencys promise was overhyped, to say told you so.

I dont know that its on its last legs, but its not looking good, said Nathalie Reinelt, an analyst at the financial-consulting firm Aite Group in Boston.

Reinelt has written reports expressing doubts that bitcoin will become a mainstream currency.

Its not in a healthy state, Reinelt said.

There are still plenty of bitcoin die-hards out there. Silicon Valley investor Tim Draper remains a booster.

Conferences devoted to the so-called cryptocurrency are attracting droves of adherents.

Venture-capital firms are funding bitcoin-related startups.

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Bitcoin ends year in the dumps

Bitcoin bigwig goes to prison in Silk Road case

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BitInstant CEO Charlie Shrem is sentenced to two years prison time, despite asking to be let off free to "change the world."

BitInstant CEO Charlie Shrem has been sentenced to two years in prison in a case involving money laundering. Bitcoin

Bitcoin evangelist Charlie Shrem was sentenced to two years in prison on Friday after being charged with laundering money through the notorious online drug bazaar Silk Road.

Shrem pleaded guilty to one count of aiding and abetting an unlicensed money transmission in September. After striking this plea deal with the government, Shrem faced up to six years in prison. However, US District Judge Jed Rakoff decided two years would be sufficient. The judge denied Shrem's request to be let off without any prison time so he could "change the world" by showing he had learned from his mistakes, according to Bloomberg.

"I screwed up," Shrem told the judge in court on Friday, according to Bloomberg. "The bitcoin community, they're scared and there is no money laundering going on anymore. They're terrified. Bitcoin is my baby, it's my whole world and my whole life, it's what I was put on this earth to do. I need to be out there. If your honor grants me that, I can be out there in the world, making sure that people don't do the same stupid things that I did."

Prosecuting attorney Preet Bharara submitted a filing to Judge Rakoff on Wednesday urging the judge to sentence Shrem to prison time.

"The story of this case is not one of tragedy, but farce," Bharara wrote. "Throughout the year 2012, Charlie Shrem made a mockery of the anti-money laundering laws."

Shrem, who was the CEO of bitcoin exchange company BitInstant, was arrested in New York in January in a multi-agency crackdown led by the US Attorney's office, the Drug Enforcement Administration and the Internal Revenue Service. Another prominent bitcoin figure, Robert Faiella, was also arrested in the sting.

According to the agencies, the men engaged in a scheme to sell over $1 million in bitcoins for use on the now shuttered underground drug marketplace Silk Road. From December 2011 to October 2013, the agencies say, Faiella was in charge of a bitcoin exchange on Silk Road called BTCKing, in which he took users cash, funneled it through Shrem's company and gave the users bitcoins in return.

Both men were initially charged with "conspiring to commit money laundering, and operating an unlicensed money transmitting business." Shrem was also charged with failing to report suspicious activity in violation of the Bank Secrecy Act.

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Why Bitcoin's Volatile Price Doesn't Matter

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By Dow Jones Business News, December 21, 2014, 11:47:00 PM EDT

By Michael J. Casey

Bitcoin prices have dropped almost 60% since January, outpacing the Russian ruble. Critics say that's proof digital currency has failed.

Ignore them. Bitcoin's price is irrelevant to the key question of whether the underlying technology will disrupt finance. There are many signs it will.

Bitcoin is much more than just a currency. Investors from Silicon Valley to Wall Street are now pouring money and expertise into what they view as an adaptable technology platform. Software developers anywhere can use bitcoin's open- source code to create specialized applications that let businesses undertake commercial exchanges without using middlemen. These applications threaten to make redundant many services provided by banks, foreign-exchange houses, escrow agents, clearing houses, notaries public and even lawyers.

Of course, none of that guarantees that bitcoin will succeed. Detractors will rightly argue that householders won't save or transact in a unit of exchange whose value fluctuates wildly. Indeed, while bitcoin transactions continue to rise, and even though a growing list of merchants accepting bitcoin now includes Microsoft, Expedia and Dish Network, digital currency's portion of global commerce remains minuscule.

But it doesn't matter that mom and pop aren't comfortable with bitcoin. What matters is whether the exploding software innovation around cryptocurrency leads to solutions that allow corporations and governments to derive benefits while protecting themselves from risks, including the volatility. The vision that many in Silicon Valley have is that bitcoin, or perhaps some clone of it, will work in the background of the global economy. Mom and pop won't even know it's there.

Balaji Srinivasan, a partner at venture-capital firm Andreessen Horowitz in Menlo Park, Calif., likens bitcoin's current status to the early days of Linux, whose open-source operating system initially sought to compete with Microsoft's Windows on personal computers but eventually became the leading operating system for enterprise servers. Much like some bitcoin evangelists' views of fiat currencies, early Linux supporters "were overconfidently saying, 'We are going to kill Microsoft,' and yet while it never got a much of a presence on desktops, it did gain a presence on the server side," Mr. Srinivasan said. "Now, 15 years later, the Internet as we know it wouldn't exist without Linux."

Mr. Srinivasan talks of how a "dual boot" of Linux and Windows became popular as techies simultaneously tapped the best functions of both. It's analogous, he says, to how cryptocurrency developers are making their applications " interoperable" with traditional monetary systems. Bitcoin, with its more efficient, direct and cheaper system of exchange, would support payments and transfers over the Internet and then connect seamlessly with the offline economy, where the dollar and other traditional currencies continued to reign.

Mr. Srinivasan's firm, which was co-founded by Netscape pioneer Marc Andreessen, is one of dozens that have invested a total $311 million in bitcoin startups this year, according to a tally by news site Coindesk. That's up from $93 million in 2013. The names behind these deals read like a who's who of Internet history: Tim Draper of the Valley's legendary Draper family, Reid Hoffman of LinkedIn fame, Yahoo founder Jerry Yang and many others.

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Estate agent accepting bitcoin

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Sydney real estate agency Forsyth Real Estate has begun accepting virtual cryptocurrency bitcoin for house deposits and property advertising, through a partnership with Australian bitcoin payments provider CoinJar.

The 115-year-old real estate agency on Sydney's north shore said that it took on bitcoin to offer another avenue for online payment to the influx of international investors and expats entering the prominent Sydney market.

Forsyth managing director James Snodgrass said the agency had become a strong supporter of the bitcoin economy recently, as it allowed overseas transactions with less fees and exchange rate fluctuations.

"Prior to launching, we had discussions with our financial division who outlined the risks and opportunities of bitcoin and we were happy with our findings," he said.

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But the director of Max Walls International Real Estate in Manly, Anthony Walls, said he was not convinced.

"I must tell you I'm very concerned about the bitcoin situation," Mr Walls said.

"I just don't need to deal with those [virtual currencies] and I don't need the grief."

Mr Walls was referring to the hacking of 850,000 bitcoins from the high-profile Mt Gox currency exchange worth about $US500 million ($548 million) earlier this month. The attack ruined Mt Gox, which was reportedly handling up to 70 per cent of the world's bitcoin transactions.

"I would need to be convinced and I'd want a whole team of lawyers sitting at the table signing off on it," Mr Walls said in response to whether he would ever accept bitcoin.

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Comets Continue to Dominate Flames

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December 20, 2014 - American Hockey League (AHL) Utica Comets For the fourth time this season, the Utica Comets shutdown the Adirondack Flames, this time with a final score of 4-1 at the Glens Falls Civic Center on Saturday evening.

Jacob Markstrom didn't disappoint in his first game back with the Comets since Nov. 21, saving 19 out of 20 shots taken by the Flames all while improving his goals-against average to a remarkable 1.69. Four different Comets players scored goals in the victory, including Brendan Gaunce, who scored his second goal in as many nights.

The Comets started with a bang in the opening minutes of the first period after quite the individual effort by Gaunce, the Comets rookie left-winger. After breaking up a pass at the blue line, Gaunce rushed down the boards and lifted a shot right over the glove side of Joni Ortio to net his third of the season for the 1-0 lead at 2:13.

Just 18 seconds later, Hunter Shinkaruk received a stretch pass from one blue line to the next from Henrik Tommernes. Shinkaruk made his way all the way to the left dot before he released a shot towards Ortio. The Finish goaltender made the initial save, however Wacey Hamilton was on the doorstep to promptly backhand in the Comets second goal of the game and his third of the season to make it 2-0.

After the penalty extravaganza that was the first period, play tamed down a bit in the second with only three penalties awarded, compared to the eleven handed out in the first.

It wasn't until almost literally the last possible second at 19:56 in the second when the Flames found their first goal of the night to cut the Comets lead in half. After a pass to Ben Hanowski from Bill Arnold, Hanowski wristed a shot off that immediately bounced off of Markstrom's right leg. David Wolf was waiting next to the blue paint for the re-bound and knocked the puck into the net before Markstrom could make a follow-up save. Wolf's fifth of the season set the score at 2-1 just prior to heading into the third period.

Frustration continued to mount for the Flames after a hard fought third period on both ends. At 13:02 the Comets found their third of the night on a power play just after Flames defensemen Mike Cundari took a high-sticking penalty. With a quick series of offensive zone passes, the puck found its way to Corrado, who then ripped one past Ortio to make it a two-goal game once again for a score of 3-1. Cal O'Reilly and Nicklas Jensen were both credited with assists on the play.

With just over two minutes left, Adirondack pulled Ortio to try and make a comeback with the extra man. It didn't take long for the Comets to upset their effort as Friesen interfered with the Flames offensive attack at the blue line. Friesen then skated down the left wing and popped the puck into the open net for a final score of 4-1.

After Saturday night's win against the Calgary Flames affiliate, the Utica Comets have gone eight games without losing in regulation and have secured a total of 43 points to keep them a top the American Hockey League standings.

After taking a little break to enjoy the holidays, the Comets will return to The Utica Memorial Auditorium one day after Christmas on Friday, Dec. 26 to once again take on the Adirondack Flames for a 7 p.m. re-match. This will be their fifth meeting of the season.

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Blue Comets top Patriots in C-T opener

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ASHEBORO For the Asheboro and Providence Grove High School varsity girls basketball teams, Saturdays The Courier-Tribune Christmas Invitational opener wasnt just about starting off the tournament on the right foot.

It was about ending skids.

The Blue Comets entered the game having lost their last two games, while the Patriots had fallen in their last seven.

One team was bound for a turnaround.

In the end, it was Asheboro, which survived a late Providence Grove rally for a 55-45 win at AHS. The Blue Comets (6-5) face Southwestern Randolph today at 7:30 p.m. in the second semifinal, while the Patriots (2-8) play Wheatmore in the consolation bracket at 2:30 p.m.

Asheboro coach Terry Allmon said his team still wasnt 100 percent.

We make the silliest turnovers at the worst times, he said. We got into some foul trouble and Mikayla (Trogdon) getting hurt didnt help. We made our early shots, but we get really impatient on offense. Were at our best when we pass the ball and get open shots.

The Blue Comets started the game with a 7-0 run, entering the second quarter up 13-5. There, Asheboro upped its lead to as many as 18 points on a Trogdon bucket with just under 1 1/2 minutes to play until halftime. Providence Grove was able to cut the lead by two before the buzzer sounded.

The Patriots scored the first two baskets of the second half and kept battling back each time the Blue Comets got a lead.

Midway through the third quarter, Trogdon landed awkwardly on her ankle and didnt return.

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Blue Comets top Patriots in C-T opener

Homeopathic Treatment for Psoriasis | Nucleus Homeopathy | Doctors Talk – Video

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Homeopathic Treatment for Psoriasis | Nucleus Homeopathy | Doctors Talk
Doctors Talk is an exclusive program by CVR Health TV in which a specialist will discuss about different health problems and suggest remedies. Watch CVR Health, the 24/7 health channel with...

By: CVR Health TV

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Homeopathic Treatment for Psoriasis | Nucleus Homeopathy | Doctors Talk - Video

World class travel to America

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Staff reporter

Monday, December 22, 2014

The world's largest airline by revenue and passengers carried has a daily 16-hour direct flights between Hong Kong and Dallas, Texas where travelers can transit to 220 destinations in North America and 80 more in Latin America.

It also has a daily flight between Beijing and Chicago, from Shanghai to Chicago, Los Angeles, and Dallas. It also flies from Tokyo and Seoul.

The Dallas-based airline features a 777-200, a fully refurbished cabin with specially-designed fully lie-flat seats in Business Class. "Now that we have the network to compete globally, we're going to deliver a product that's better than our competitors," said Doug Parker, American Airlines chairman and CEO.

"Refreshed cabins and clubs, modernized ticket counters, improved technology and new aircraft are further examples of how American is going for great - providing our outstanding team members the tools they need to deliver a great experience for our customers."

These capital investments include fully lie-flat seats; international Wi-Fi; more in-flight entertainment options; a new, modern design for Admirals Club lounges worldwide; and an upgraded assortment of complimentary healthy food, cocktails and more. American closed the merger with US Airways on December 9, 2013, and has made significant progress in combining the two airlines. Customers now have full access to the combined network, thanks to the world's largest codeshare.

They can also earn and redeem miles on flights operated by American and US Airways and receive reciprocal access to clubs and upgrades.

American's cargo operation now functions as a single airline.

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The Top 11 Travel Trends for 2015

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TIME Living Travel The Top 11 Travel Trends for 2015 Courtesy of Boeing Whats on the horizon for the coming year? Here, a look at 11 trends that are changing the way we move through the world

Remember when you actually had to go to an airport check-in counter to get your boarding pass? When calling home from abroad racked up exorbitant fees (hat tip, Skype), or when catching a cab meant waiting forlornly for one to pass? (Thanks, Uber and Lyft).

Every year, the travel industry takes an evolutionary step forward, as companies offer up innovative solutions to the inevitable problems we face on the road. In 2015, we will see the rollout of Boeings new overhead Space Bin luggage compartmentspromising a faster, easier airplane boarding processand the rise of even-more-comfortable premium economy cabins to tempt us from the increasingly pinched back of the plane.

Our smartphones, which serve as navigators, translators, itinerary managers, and taxi summoners, will get us into fully booked restaurants and double as our wallets (as if our relationship with them werent codependent enough). And our social media profiles will open doors and unlock deals at hotels, and connect us with useful business contacts while were traveling. Hotels, meanwhile, will find new ways to help us sleep better.

But the changes ahead for 2015 are more than just improvements. This will also be a year of expanding horizons. Well stay in private houses and apartments that feel surprisingly like hotels (and vice versa). Well visit resorts and travel with companies where the bottom line is measured by how much goes back into local communities. And well make the world our classroom, attending workshops, salons, and conferences across the globe.

In our annual trends package, Travel + Leisure tracks the biggest changes for the year ahead. Here are our predictions for how youll travel in 2015.

If youre interested in staying at the new Drift San Jose, a stylish eight-room property in Los Cabos, Mexico, that appeals to independent millennials, you wont be able to book through its website, or any hotel website, for that matter. Rooms are available only through Airbnb. Thats a sign of things to come: since the apartment-rental behemoth enlisted boutique-hotel guru Chip Conley in 2013 to advise hosts on how to improve the guest experience (scented candles, fresh fruit, ambient music), the line between hotels and rentals has become blurred. Airbnb has introduced a range of initiatives to this effect, including a Super Host program that highlights some of the sites most professional-style listings and a three-day conference that offers tips for aspiring hosts. Other rental services, such as the high-end One Fine Stay and the affordable-minded BeMate, are also stepping into this nebulous middle ground, offering guests cleaning and concierge services. BeMate will even store luggage for you and, in lieu of room service, deliver food from nearby partner hotels.

If your phone starts buzzing the next time youre in an airport, it could be location-specific alerts enabled by nearby beacons, low-frequency Bluetooth sensors that can tell you which currency-exchange counters have the best rates, how long itll take to reach your gate, and other useful tips. The technology is already being used in airports from San Francisco to Amsterdam.

Las Vegas may be the best place to rest up right now, thanks to an array of sleep-centric tech enhancementsin lighting and furniture designin 171 rooms (and counting) at the MGM Grand. And that hotel isnt alone in prioritizing your REM sleep. Fifteen years after introducing the Heavenly Bed, Westin is piloting wearable monitors with a companion sleep-coach app, which it hopes to roll out to hotels in the near future. Crowne Plaza, meanwhile, has unveiled a new headboard that helps cut ambient noise by 30 percent. Heres a closer look at how hotels are rethinking your bedtime routine.

Stay Well Dawn Simulator: The bedside fixture at the MGM Grand gradually wakes you up with cortisolproducing shades of blue light.

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See why Navy paid $3 billion for this

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STORY HIGHLIGHTS

(CNN) -- The Navy's new super stealthy destroyer, the USS Zumwalt, has a lot in common with Hollywood's starship Enterprise, according to folks who've seen it in person.

Much has been written about the Zumwalt's appropriately named commander, Capt. James Kirk. But aside from that coincidence, the ship's operations center utilizes advanced technology that takes multitasking to a deadly new level on the high seas.

First launched last year, this is a massive $3 billion warship -- the largest type of destroyer in the modern Navy by about 65%. One thing that sets it apart is a very small crew.

Compared with about 300 sailors needed for similar warships, the Zumwalt's minimum compliment is only 130.

U.S. Navy's new stealth destroyer

U.S. Navy's new stealth destroyer

U.S. Navy's new stealth destroyer

U.S. Navy's new stealth destroyer

U.S. Navy's new stealth destroyer

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Stem Cell Therapy & Stem Cell Treatment – Cell Therapy …

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Our Cell Therapy Center offers advanced patented methods of stem cell treatment for different diseases and conditions. The fetal stem cells we use are pluripotent non-specialized cells able to differentiate (turn) into other cell types. Fetal stem cells have the highest potential for differentiation and proliferation and are not rejected by the recipients body more...

Stem cell therapy has proven to be effective for tissue restoration, and integrated care for the incurable and obstinate diseases. We treat patients with various diseases, such as diabetes mellitus, multiple sclerosis, Parkinsons disease, Duchenne muscular dystrophy, joint and autoimmune diseases, etc. We also offer innovative anti-aging programs. Stem cell treatment allows for achieving effects that are far beyond the capacity of any other modern method more...

For over 20 years, we have performed more than 8,000 transplantations of fetal stem cells to people from many countries, such as the USA, China, Italy, Germany, Denmark, Great Britain, Saudi Arabia, UAE, Egypt, etc. Our stem cell treatments helped to prolong life and improve life quality to thousands of patients including those suffering from the incurable diseases who lost any hope for recovery.

With Cell Therapy Center EmCell located in Kiev, Ukraine, we have numerous partners in various countries devoted to provide medical advice on EmCell stem cell treatment locally.

We are always open for medical, businessandscientificcooperation.

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Stem Cell Therapy & Stem Cell Treatment - Cell Therapy ...