Daily Archives: December 28, 2014

[Tokyo Bitcoin Hackers] Getting Started with Multisig by Emil Oldenburg
Multisig is the word on everyone #39;s lips at the moment, but how do one actually use it? I quick Google search shows command line examples, but that #39;s pretty m...

By: Tokyo Bitcoin Hackers

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[Tokyo Bitcoin Hackers] Getting Started with Multisig by Emil Oldenburg - Video

10 MONEY PROBLEMS SOLVED BY BITCOIN - How to BE FREE of Money Slavery
These 10 money problems are ERADICATED with Bitcoin... you owe it to yourself and your family to FREE yourself of money slavery. Tune in be enlightened, informed, empowered and inspired to...

By: Valerie Love

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10 MONEY PROBLEMS SOLVED BY BITCOIN - How to BE FREE of Money Slavery - Video

Podcast #27: Bitcoin Trends 2014, BitLicense Revision, Shrem Sentence, ChangeTip Criticism, Paycoin
Visit us at http://coinbrief.net/ and follow us on social media! Twitter: https://twitter.com/CoinBrief Facebook: https://www.facebook.com/coinbrief Sean Win...

By: Coin Brief

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Podcast #27: Bitcoin Trends 2014, BitLicense Revision, Shrem Sentence, ChangeTip Criticism, Paycoin - Video

AppNana Tutorial - Free Amazon, iTunes, Steam, PayPal and Bitcoin Gift Cards!
AppNana is a free service that allows iOS and Android users to earn rewards while trying out free apps from publishers! Users can download the apps, earn points called Nanas, and redeem them...

By: experienceRCOS

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AppNana Tutorial - Free Amazon, iTunes, Steam, PayPal and Bitcoin Gift Cards! - Video

2014 #39;s Worst Currency was Bitcoin - TOI
2014 #39;s worst currency was Bitcoin It #39;s been a bad year for the Russian ruble and a terrible 12 months for the Ukrainian hryvnia. But it #39;s been a catastrophic...

By: The Times of India

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2014's Worst Currency was Bitcoin - TOI - Video

LIVE Hangout with Eric Martindale of BitPay About The Bitcoin Bowl and A Special Holiday Message ...
Tina Hui of Follow The Coin And Eric Martindale of BitPay Hosted A Special LIVE Hangout for the Holidays on Christmas Day 2014 SPECIAL LIVE HOLIDAY HANGOUT w...

By: Follow The Coin

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LIVE Hangout with Eric Martindale of BitPay About The Bitcoin Bowl and A Special Holiday Message ... - Video

Bitcoin Bowl keys to victory for UCF
UCF #39;s keys to victory in the Bitcoin St. Petersburg Bowl.

By: TheValenciaVoice

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Bitcoin Bowl keys to victory for UCF - Video

Bitcoin started the year with a peak value of around $1,130. Now, at the end of 2014, Bitcoin's current value is quite a bit lower.

If you're big into Bitcoin, then we certainly hope that you had a good exit strategy in place when the value of the cryptocurrency took a nose dive this year. If not, there go one's dreams of taking an investment into digital currency and converting it into a brand-new house, or a hot tub, or a boat, or what-have-you.

In fact, Bitcoin did so poorly this year, Bloomberg notes that it was the world's worst currency for 2014. Just let that sink in a bit: Even with all the political issues plaguing the European and Asian landscape this year, mostly centered on Russia and Ukraine, their currencies' fluctuations were overshadowed by Bitcoin's poor performance.

As Bloomberg's Mark Gilbert calls out, Bitcoin peaked at just around $1,130 or so a year ago. Since then, the currency's value has plummeted to just around $320 or so. That's quite a bit of a loss, though it's not yet fatal for the currency that sprung into existence out of nothing in 2009.

In fact, those early adopters of Bitcoin who haven't yet traded in their digital currency for a physical oneor perhaps even realized that they were big into Bitcoins around the time of the currency's slow debutwould still be enjoying quite a return if they cashed in their early bitcoins right now.

"So what are the lessons from this year's currency losers? Being at war is worse for a currency than not being at war, whether you're fighting the world's financial authorities for legal validity, or engaged in a guerrilla skirmish as either aggressor or victim. Having friends with deep pockets helps when you get into trouble; Russia does, while Ukraine's international agency pals are hamstrung by their lending rules," Gilbert writes.

"Most of Bitcoin's supporters, meanwhile, seem to be hackers whose resources depend upon the Ponzi-scheme nature of the enterprise itself."

Even more depressing: The overview from Recode's James Temple of all the other investments that would have made more financial sense than Bitcoin this year. That includes investing in newspapers (yikes!), camera film (what?), and the U.S. automotive industry (ouch).

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Bloomberg: Bitcoin was World's Worst Currency in 2014

Bitcoin was a terrible investment this year, but that hasnt stopped non-profits from asking for them anyway. Wikipedia, Electronic Frontier Foundation, Khan Academy and now even Burning Man will take those bitcoins off your hands in the form of a tax-deductible donation.

While this wont get you a golden ticket into the actual festival, gifting something without expecting anything in returnis part of the spirit and culture of the annual festival in the Nevada desert.In fact, its listed first in the 10 Principles of Burning Man:

Burning Man is devoted to acts of gift giving. The value of a gift is unconditional. Gifting does not contemplate a return or an exchange for something of equal value.

Though a lot of money goes into prep and supplies for the festival, no actual money is exchanged while in Black Rock City except for the buying of ice or coffee at the main tent. Folks give away everything from vegan ice cream to special massages while there. Even clothing can be donated away. The new bitcoin option has more to do with funding year round activities outside the festival, however.

For some context, theres Burning Man the 501(c)3 and theres Black Rock City LLC. Ticket sales cover the actual cost of producing the festival. Thats the for-profit part. The cryptocurrency donations will help the non-profit arm of Burning Man to build out organizational capacity, support community initiatives and most likely help fund those giant art projects that get shipped out to the middle of the Playa every year.

CEO Marian Goodell mentioned in a company issued statement that there was a possibility of buying tickets with the cryptocurrency at some point, Accepting bitcoin for donations is an experimental first step. We plan to explore other possibilities in the future, including expanding bitcoin to the ticket-buying process, she said.

Coinbase, a digital payment system for bitcoin, has partnered up with Burning Man to make the donation process easier. It also provides a way togive without incurring transaction fees. The startup doesnt assess fees to non-profits. Other online sites such as Reddit and Wikimedia (the non-profit portion of Wikipedia) use Coinbase for the same thing.

Burners in Russia may want to hold onto that bitcoin, but donating the virtual currency could be a good option for those in theUnited States. That is, if your coin value actually went up this year. It hovered around the $1000 mark at the beginning of 2014, but has since fallen to $318 as of today.

As mentioned above, bitcoin donations are now tax-deductible. The feds finally issued a statement this last spring that allows bitcoin to be considered a property of sorts. Thiswill allow you to give away something that would otherwise be subject to capital gains taxes.

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Bitcoin, Burning Man And The Gifting Economy