Monthly Archives: September 2014

Mining Asics Technologies 3TH/s Bitcoin miner - Lets Have a Look
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By: Peter Griffen

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Mining Asics Technologies 3TH/s Bitcoin miner - Lets Have a Look - Video

Bitcoin and Litecoin Price Ticker Widget Preview
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By: Peter Griffen

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Bitcoin and Litecoin Price Ticker Widget Preview - Video

Bitcoin Faucet / Altcoin Faucet FREE BITCOINS
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By: Peter Griffen

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Bitcoin Faucet / Altcoin Faucet FREE BITCOINS - Video

Bitcoin Solutions launches leveraged Bitcoin trading platform
If you are looking for another way to get onto the Bitcoin playing field, we suggest you take a look at Vancouver-based Bitcoin Solutions. Bitcoin Solutions owns and operates ATMs across Western...

By: InvestmentPitch Media

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Bitcoin Solutions launches leveraged Bitcoin trading platform - Video

At San Franciscos Buyers Best Friend, a worker demonstrates the companys custom-built bitcoin payments system. Photo: Ariel Zambelich/Wired

Over the past year, its become a lot easier to buy bitcoin, thanks to services such as Coinbase. And thanks to retailers such as Overstock.com and TigerDirect, its now a lot easier to to spend them online. But theres still one big pothole in bitcoins bumpy road to mainstream adoption: Your local coffee shop.

Thats because most cash register software still doesnt support the worlds most popular digital currency. But the situation is about to change, according to Square CEO Jack Dorsey. He says that Square is building a register that will allow companies to accept bitcoin as well as Apples new contactless payment system, Apple Pay.

Were building a register so that sellers can accept a credit card, so they can accept cash, so they can accept a cheque, so they can accept Bitcoin and so they can accept any form of payment that comes across the counter including future ones and burgeoning ones like Apple Pay, Dorsey told the CBC this week, speaking at the opening of Squares new Canadian offices in Kitchener, Ontario.

Reached Monday, the company didnt have any word on when its bitcoin-ready register might be on the market. But it said say that it wants to support new types of payment systems. Square sellers should never have to miss out on a sale. They should be able to accept any form of payment, said Square spokesman Johnny Brackett.

Today, shops such as Buyers Best Friend in San Francisco and restaurants such as the Pink Cow in Tokyo accept payments in bitcoin. Basically, you hold your smartphone up to a scanner at the cash register. But such systems can be difficult for businesses to set up. Square, whose in-person payment systems are already used by so many businesses, could potentially make it much easier for small stores and restaurants to accept bitcoin, a new kind of currency that exists only on the internet.

Though many believe bitcoin can remake the way we handle moneyremoving some of the control traditional exhibited by big banks and government organizationsit is still a long way from reaching the mainstream. But with company such as Overstock now accepting bitocin payments across the globe and Square flirting with a bitcoin register, the currency is inching closer.

Home Page Photo: David Shankbone

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Square Is Making a Register That Takes Bitcoin and Apple Pay

Four MIT students behind an award-winning Bitcoin mining tool will face off against New Jersey state authorities in court today when they attempt to fight back against a subpoena demanding their source code.

The Electronic Frontier Foundation is representing 19-year-old MIT student Jeremy Rubin and three classmates in a remarkable case that stands out for the measure of aggression the state is using to obtain the code and identify anyone who might have tested the mining tool.

The case is reminiscent of a federal one that targeted Aaron Swartz after he was arrested by MIT police in 2011 for downloading more than 4 million scholarly journal articles from the JSTOR digital library, offered to MIT students, to make them more widely available. Swartz faced multiple charges for his activity and killed himself as he was preparing for trial. Although there is currently no indictment or pending criminal charges against Rubin and his friends, state authorities have indicated that they believe the researchers may have violated state laws. The case marks a disturbing trend among authorities to go after researchers, innovators, tinkerers and others who try to do cutting-edge projects to help the tech community, says EFF staff attorney Hanni Fakhoury.

Its a very broad subpoena that hints at criminal liability and civil liability, he says. For a bunch of college kids who put something together for a hackathonthey didnt make any money, the project never got off the ground and now is completely disbandedthere are some very serious implications.

The mining tool, known as Tidbit, was developed in late 2013 by Rubin and his classmates for the Node Knockout hackathononly Rubin is identified on the subpoena but his three classmates are identified on the hackathon web site as Oliver Song, Kevin King and Carolyn Zhang. The now defunct tool was designed to offer web site visitors an alternative way to support the sites they visited by using their computers to mine Bitcoins for them in exchange for having online ads removed.

We believe our utility for the end user comes in freeing up real estate on web pages, King wrote about their program on the Node Knockout site. Imagine a web where your amazon shopping cart doesnt follow you around to every website you visit. We believe there should be more options than advertising for monetizing a website, and we believe we have a novel and non-intrusive solution. In this way, we provide utility to developers who can now include higher quality content on their websites, and utility to end users who are spared the wasted time in looking at ads.

The clever design won the award for innovation in the programming competition.

This is a very intriguing idea that could really transform online economics if it works, one supporter wrote on the hackathon site. There is a much broader discussion to have about mining bitcoins vs doing other useful tasks (e.g. a friendly form of mechanical turk).

But the program never got beyond the proof-of-concept stage before Rubin and Tidbit, as an entity, were hit with subpoenas from the New Jersey

The states attorney general claims Rubin and his classmates violated New Jersey computer crime laws and demanded they hand over source code for their creation and any documentation related to the tool. Rubin was the only one named in the subpoena, Fakhoury says, because he registered the web site for Tidbit.

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MIT Students Battle States Demand for Their Bitcoin Miners Source Code