Cryptocurrency Round-Up: Bitcoin's China Resurgence and Independent Reserve Launches Exchange

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Bitcoin is experiencing a quiet comeback in China following months of unfavourable regulation(IBTimes UK)

The price of bitcoin has slid once again over the weekend, falling back down below $350 (217) for the first time since its crash earlier this month.

Other major cryptocurrencies, including dogecoin, peercoin, namecoin and darkcoin, also saw their prices fall by a similar 1% to 3% margin since Friday 24 October.

Cannabisdarkcoin was the biggest mover across all markets. The cryptocurrency, which launched earlier this month, saw its value surge by 180% in the last 24 hours.

Australia-based cryptocurrency company Independent Reserve has launched a bitcoin exchange in Sydney, claiming it is faster than other exchanges.

"As an Australian you'll be able to open an account and be verified in minutes," said Adrian Przelozny, chief technology officer of Independent Reserve.

Przelozny believes bitcoin is not far away from breaking fully into the mainstream, with around 76,000 merchants accepting the cryptocurrency around the world.

He said: "eBay is about to start accepting Bitcoin, you can buy a holiday on Expedia using Bitcoin, and you can buy a computer from Dell using Bitcoin."

Following months of unfavourable bitcoin regulation in China, the cryptocurrency is making a quiet comeback in the country, according to China's 21st Century Business Herald.

The ban on trading bitcoin introduced by China's central bank was seen as one of the main factors in bitcoin's price crashing earlier this year.

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Cryptocurrency Round-Up: Bitcoin's China Resurgence and Independent Reserve Launches Exchange

How to Accept Bitcoin for Small Business – Easiest Merchant POS – Video

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How to Accept Bitcoin for Small Business - Easiest Merchant POS
The simplest way to accept Bitcoin for your small business. http://easybitz.com/merchant No internet or smart phone needed. Welcome to the Family. Sindy #39;s Bitcoin Donation address: 1Ko4cCtfYQEQ2s.

By: EasyBitz - Brick Mortar Bitcoins

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How to Accept Bitcoin for Small Business - Easiest Merchant POS - Video

Should Kiwi businesses care about Bitcoin?

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Image courtesy btckeychain

Virtual currency Bitcoin is gaining popularity worldwide and New Zealand will have its inaugural Bitcoin Conference at the end of November. It is estimated that around 80,000 businesses worldwide are currently accepting Bitcoin as a form of payment. Its fair to say things are getting a little serious. Should you care?

First things first: what is Bitcoin? Bitcoin is basically a new kind of money - a cryptocurrency. It uses peer-to-peer technology to allow payments to be made between anyone worldwide. It is open source and touted as a more secure way to make payments. Its value is, however, very volatile so keep this in mind if you do decide to start making Bitcoin transactions. For more information on Bitcoin and how it works, visit bitcoin.org. Keep in mind that, as it is not an official currency, you will need to be aware of how the New Zealand laws and regulations affect the use of Bitcoin.

The trendy currency In spite of its risks, new Bitcoin platforms seem to be launching around the world all the time. Many small businesses worldwide are taking up the virtual currency as a means of payment. Bitcoin is attractive for small businesses because its processing fees (usually less than 1 percent) are a lot lower than fees for credit card transactions.

In fact, some experts claim that small businesses will take up the virtual currency faster than the big corporations and worldwide chains.

While low fees are what first seems to attract businesses, some experts point to other advantages to Bitcoin adoption, including stronger protection against identity-theft and the ability to get paid a lot quicker than using common payment methods like credit cards.

While mainly used for online transactions, Bitcoin can also be used in store if the customer has installed in his/her smartphone a Bitcoin wallet for this particular purpose. In this instance, a Bitcoin transaction works much the same as a cash transaction.

Beware of the downfalls As an unregulated virtual currency, Bitcoin has its cons and, while many think it is the way of the future for businesses, all merchants need to be aware of these before deciding to start accepting the cryptocurrency.

Keep in mind that the currency is very volatile so you might not want to hold onto it for profit and rather just exchange it for real money as soon as you can (or you might get lucky and get some profit when the exchange rates fluctuate).

Still in its infancy, there is a chance that Bitcoin will just end up dying a slow death and become useless. It is also not monitored or approved by the government so check with your accountant to figure out how that would affect your taxes.

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Should Kiwi businesses care about Bitcoin?

Should small businesses in New Zealand care about Bitcoin?

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Image courtesy btckeychain

Virtual currency Bitcoin is gaining popularity worldwide and New Zealand will have its inaugural Bitcoin Conference at the end of November. It is estimated that around 80,000 businesses worldwide are currently accepting Bitcoin as a form of payment. Its fair to say things are getting a little serious. Should you care?

First things first: what is Bitcoin? Bitcoin is basically a new kind of money - a cryptocurrency. It uses peer-to-peer technology to allow payments to be made between anyone worldwide. It is open source and touted as a more secure way to make payments. Its value is, however, very volatile so keep this in mind if you do decide to start making Bitcoin transactions. For more information on Bitcoin and how it works, visit bitcoin.org. Keep in mind that, as it is not an official currency, you will need to be aware of how the New Zealand laws and regulations affect the use of Bitcoin.

The trendy currency In spite of its risks, new Bitcoin platforms seem to be launching around the world all the time. Many small businesses worldwide are taking up the virtual currency as a means of payment. Bitcoin is attractive for small businesses because its processing fees (usually less than 1 percent) are a lot lower than fees for credit card transactions.

In fact, some experts claim that small businesses will take up the virtual currency faster than the big corporations and worldwide chains.

While low fees are what first seems to attract businesses, some experts point to other advantages to Bitcoin adoption, including stronger protection against identity-theft and the ability to get paid a lot quicker than using common payment methods like credit cards.

While mainly used for online transactions, Bitcoin can also be used in store if the customer has installed in his/her smartphone a Bitcoin wallet for this particular purpose. In this instance, a Bitcoin transaction works much the same as a cash transaction.

Beware of the downfalls As an unregulated virtual currency, Bitcoin has its cons and, while many think it is the way of the future for businesses, all merchants need to be aware of these before deciding to start accepting the cryptocurrency.

Keep in mind that the currency is very volatile so you might not want to hold onto it for profit and rather just exchange it for real money as soon as you can (or you might get lucky and get some profit when the exchange rates fluctuate).

Still in its infancy, there is a chance that Bitcoin will just end up dying a slow death and become useless. It is also not monitored or approved by the government so check with your accountant to figure out how that would affect your taxes.

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Should small businesses in New Zealand care about Bitcoin?

Bitcoin scammers get served with lawsuit from Silver Law Group

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The appeal of Bitcoin as an investment has increased over the years, especially now that more merchants and retailers are accepting it.

But as with anything that attracts investors and big money, scammers will descend upon it like vultures, scrapping for a piece of the action. But now, one law firm is fighting back.

Silver Law Group, a nationally recognized securities law firm in South Florida with satellite offices in New York and Washington, DC, has filed cases against Bitcoin startup Cryptsy, a cryptocurrency trading platform operated by Paul Vernon, and Bitcoin Savings & Trust, a Bitcoin investment firm operated by Trendon Shavers, which recently shut down amid allegations it was nothing more than a Ponzi scheme.

Complaints against the exchanges include using deceptive and misleading tactics such as the promise of high profits based on seven percent weekly interest; not providing a safe and reliable platform to trade cryptocurrencies; and excessive fees and commissions, among others.

Skye Bonnow, one of Cryptsys scorned customers of Cryptsy who is now represented by Silver Law Group, recounts how 140 Bitcoins disappeared from his account earlier this year. Bonnow stated that he complied with all of Cryptsys Terms & Conditions but was still defrauded by the service. Some users also noticed that they were able to withdraw more than what they had in their Cryptsy account, which led to the realization that the service mixes peoples funds and is therefore extremely insecure.

Contrary to the claims promoted on the Cryptsy website, the website platform was not a secure online cryptocurrency trading platform, but instead was rife with developmental bugs, security issues, lack of protection against fraud, and operated as a general slush co-mingled account for Defendants to later misappropriate funds for its own use, the lawsuit stated.

Despite the controversy and lawsuit, Cryptsy continues to operate.

As for Bitcoin Savings & Trust, its operations ceased suddenly last year just as evidence of it being a ponzi scheme began to pile up. Its operator, Shavers who then went by the name pirateat40, insisted that it wasnt a fraudulent scheme despite promising a seven percent weekly interest to investors. Silver Law Group is assisting those who have been scammed by Bitcoin Savings & Trust to get their investments back.

Silver also encourages anyone who thinks or feels they have been a victim of fraud or a theft of your assets to get in touch with them by contacting David C. Silver at dsilver@silverlaw.com to discuss your legal matters.

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Bitcoin scammers get served with lawsuit from Silver Law Group

Factbox: Bitcoin Investments

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MOSCOW, September 22 (RIA Novosti) The value of Bitcoin stood at almost $400 as of Monday, September 22, with more and more people and businesses turning to the cryptocurrency because of the speed and low cost of bitcoin transactions.

Bitcoin was first introduced in 2009. Unlike the US dollar, or any other traditional currency, bitcoins aren't printed or backed by a central government. They are created by individuals and businesses using high-powered computers. Creators of bitcoins are allowed to keep some of what they create as payment for the service. The rest is sold on unregulated online exchanges.

After purchasing a bitcoin, the buyer gets two strings of numbers called a public key and a private key. For encryption and convenience purposes, the numbers are often expressed as letters and digits. The public key is the number a person must know in order to send bitcoins to a given individual. The private key is the number that only you are supposed to know. By "signing" a transaction with their private key, a user authorizes the movement of all or some of the bitcoins from their trading account, or virtual" wallet," into another.

CoinDesk, an online publication that tracks digital currencies, estimates that by the end of this year there will be eight million bitcoin "wallets," and 100,000 companies that accept bitcoins.

All bitcoin transactions are instantly published in a ledger so that anyone can keep track of the overall money supply. The ledger floats on a collaborative online document, rather than a centrally managed account. Users have adopted this mechanism for shopping, transferring money and speculation.

For users, the perceived value of Bitcoin, or any other cryptocurrency, can be compared to the price of a tool in limited supply. Demand is fueled by parties interested in peer-to-peer forms of payment that don't involve banks and other intermediaries, making such payments cheaper and faster. For investors, a cryptocurrency becomes attractive the more popular it proves to be among users.

Other virtual currencies, such as Litecoin, Namecoin, Peercoin and Ripple, have developed out of the bitcoin technology and have added improvements on that platform. Litecoin is the second-largest cryptocurrency in terms of market capitalization.

Investors don't have to mine coins or speculate on the exchanges to make money in cryptocurrencies. Some observers recommend investing in companies that use or service cryptocurrency and other peer-to-peer payment forms.

These include companies that process payments, including Colored Coins or Ripple Labs Inc., with open-source protocols that allow users to trade anything of value instantly online for virtually no cost. These companies are in the early stages of development and so, by and large, are not publicly traded.

The most notable danger associated with bitcoin transactions is fraud.

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Factbox: Bitcoin Investments

Synthetic 3d view of 67P / Churyumov-Gerasimenko October 15: The Comets Beak – Video

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Synthetic 3d view of 67P / Churyumov-Gerasimenko October 15: The Comets Beak
Anaglyph version: http://youtu.be/ULuxPooziaM 3DTV version: http://youtu.be/Dtpv7ROvUOQ I draped the navcam images from October 15 onto my digital shapemodel. We are looking down over the...

By: 3DMalmer

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Synthetic 3d view of 67P / Churyumov-Gerasimenko October 15: The Comets Beak - Video

Synthetic Anaglyph view of 67P / Churyumov-Gerasimenko October 15: The Comets Beak – Video

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Synthetic Anaglyph view of 67P / Churyumov-Gerasimenko October 15: The Comets Beak
Mono version: http://youtu.be/88zl_DYgcPg 3DTV version: http://youtu.be/Dtpv7ROvUOQ I draped the navcam images from October 15 onto my digital shapemodel. We are looking down over the "beak".

By: 3DMalmer

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Synthetic Anaglyph view of 67P / Churyumov-Gerasimenko October 15: The Comets Beak - Video

10/24 2014 Clayton Comets 35 @ East Wake Warriors 54 Varsity Football game – Video

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10/24 2014 Clayton Comets 35 @ East Wake Warriors 54 Varsity Football game
WENDELL Seniors answered the call when East Wake needed them the most in Friday #39;s 54-35 victory over Clayton. We played through a lot of adversity, and those guys, the senior class,...

By: Landen Leiser 5StarQB

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10/24 2014 Clayton Comets 35 @ East Wake Warriors 54 Varsity Football game - Video

Workington Comets end season with success in Border Trophy

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Last updated at 14:52, Monday, 27 October 2014

Workington Comets 57 Berwick Bandits 38: Workington Comets lifted the Border Trophy to go out of the Premier League play-offs in style.

Comets went into the meeting with a seven-point deficit after losing to the Bandits in the first leg.

But Workington pulled it back with a confident display to win 98-86 on aggregate and take the Border Trophy.

Bizarrely, Comets contested the second leg of their play-off clashes with Berwick on the same night as Edinburgh and Somerset met in the final.

They started in a positive vein, Ricky Wells and Ulrich Ostergaard dominant from the gate in the first race of the night ahead of Bandits No1 Matej Kus.

Heat two saw an awful gate for MacDonald but his teammate Lambert continued the impressive form he showed against Edinburgh last week with a thrilling ride, Alex Edberg at his heels the whole way.

And with Edberg out again as rider replacement for Steen Jensen, Mason Campton had to drive up the inside and Rene Bach up the middle. Edberg retired from the back but Bach hammered round in style with Campton and ex-Comet Kevin Doolan in tow to make it 13-5 after three races.

A phenomenal start from Claus Vissing who left him untouchable for the duration as points were shared in heat four.

In heat six, Edberg led the Comets pairing of Wells and Ostergaard before a stunning pass round the outside from the former. Vissing nicked past Ostergaard on the first bends of the penultimate lap, who bombed past round the outside at the next opportunity to make it 4-2 and 25-11 overall.

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Workington Comets end season with success in Border Trophy