Monthly Archives: May 2014

How to Buy Bitcoin | Where the Money Is - 11/20/13 | The Motley Fool
Investing made simple: The Motley Fool #39;s essential guide to investing is now available to the public, free of cost, at This resource w. Investing made simple: The Motley Fool #39;s essential guide...

By: megaeconomic

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How to Buy Bitcoin | Where the Money Is - 11/20/13 | The Motley Fool - Video

Bitcoin Talk Show #10 (Live) - Call in! 1-516-900-4WCN (4926) or SKYPE WorldCryptoNetwork
Bitcoin Talk Show #10 (Live) - Call in! 1-516-900-4WCN (4926) or SKYPE WorldCryptoNetwork.

By: World Crypto Network

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Bitcoin Talk Show #10 (Live) - Call in! 1-516-900-4WCN (4926) or SKYPE WorldCryptoNetwork - Video

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

Still Report # 262 - Fed Says Bitcoin is Good
After the Fed #39;s Quarterly meeting on May 9th, they issued a report that is raising eyebrows in the crypto community.

By: Bill Still

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Still Report # 262 - Fed Says Bitcoin is Good - Video

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

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