At day two of the Bitcoin2014 conference, attendees learned about the regulatory issues being faced by bitcoiners in China, upcoming technological challenges and bitcoin investment opportunities.

Later in the day, BitPay CEO Tony Gallippi shared plans for his company’s expansion, the topic of the mining arms race was addressed and the Startup Challenge awards were won by CoinPrism and Reality Keys.

Bobby Lee opened day two of Bitcoin2014 with a presentation about the rollercoaster ride bitcoin has experienced in China. Via coindesk.com

The post Bitcoin2014 Day Two Roundup: Bitcoin’s Tough Issues Explained appeared first on CryptoBit.net.

If you have spent anytime in the world of cryptocurrencies, you have at one time or another heard his name or seen one of his many sites or projects. He received a PhD. in physics from Stanford University but decided to abandon the world of academia in favor of technology entrepreneurship. He went from trading commodities, stocks, bonds, options and futures to a trading of a different kind.

I am thrilled to sit down and talk today with a man who has his hands in all areas of Bitcoin.  If you have spent anytime in the world of cryptocurrencies, you have at one time or another heard his name or seen one of his many sites or projects.  If you haven’t yet heard of him, well today is your lucky day.

He received a PhD. in physics from Stanford University but decided to abandon the world of academia in favor of technology entrepreneurship. He went from trading commodities, stocks, bonds, options and futures to a trading of a different kind.  He brought his knowledge and dedication to the arena of  Bitcoin.

For four years now, “Doc Ock”, as I call him, because he seems to have his hands in everything bitcoin, has devoted his career to expanding the financial services market, offering a plethora of services for Bitcoiners all around the globe.  His passion for Bitcoin and his desire to see its growth with adherence to privacy and anonymity is evident in his words.  A man certainly not afraid of speaking his mind or telling it how it is, when it comes to his feelings on his current favorite topic of decentralized currency. Via cryptocoinsnews.com

The post Exclusive Interview with Bitcoin Network Owner: Michael Moriarty appeared first on CryptoBit.net.

This is great news! Think about the value this would add – Crypto Currencies are right now generally only reserved to those in the know (early adopters) well – imagine if your best friend, neighbor or better still – your customer had Crypto available – you could easily see how this will increase the amount of consumers with available currencies…

Cryptocurrency has revolutionized the concept of money. However, people are often reluctant to believe that virtual money can ever replace the physical fiat currency they have grown accustomed to. Even though most people use a variety of digital money services, such as online banking and PayPal, they still think of money in terms of paper currency. Companies must find ways to make cryptocurrency tangible if they hope to convince the average consumer to adopt it as a portion of their financial portfolio.

Prypto, an Irish startup, believes that it can fill this void by developing physical cryptocurrency scratch cards, which consumers can purchase from brick-and-mortar retailers such as grocery stores or gas stations. The developers of Prypto state that prepaid phone cards inspired them to create their scratch cards. Prepaid phone cards make telephone minutes, an intangible product, into something physical that consumers can purchase in stores and even transfer to others. Though used far less than they once were, most people are still familiar with the concept. Prypto hopes to capitalize on this familiarity to make cryptocurrency tangible to those who are new to cryptocurrency or uncomfortable with the concept of digital money in general.

Much like prepaid phone cards, Prypto cards contain a hidden code that consumers reveal by scratching off the protective covering with a coin. Card owners can then either enter the code at CryptoScratchCards.com and send the funds to their personal wallet address or use the code to pay for a purchase at any online store that accepts Prypto-mediated payments. Via cryptocoinsnews.com

The post Prypto Scratch Cards to hit stores soon appeared first on CryptoBit.net.

BTCXIndia, The first Crypto Exchange to blaze the trail in India is certainly worthy news and will represent a big step forward for India Crypto Economy. Check out the post below and let me know your thoughts!

Its a significant step for the countrys bitcoin economy as its previous exchanges, which operated as fixed-price buy-sell platforms, lived with a degree of regulatory uncertainty since a series of government warnings and raids on bitcoin businesses in December and January. Security and compliance BTCXIndia currently has 10 staffmembers, working in development, customer services and compliance. Investment comes via a UK company that has funded the exchange for at least one year, and is also working as a strategic advisor to the management team.

India now has a full and compliant bitcoin exchange called BTCXIndia – also featuring a live trading platform and wallet service – which launched officially on 5th May in the southern city of Hyderabad.

It’s a significant step for the country’s bitcoin economy as its previous exchanges, which operated as fixed-price buy-sell platforms, lived with a degree of regulatory uncertainty since a series of government warnings and raids on bitcoin businesses in December and January.

BTCXIndia currently has 10 staff members, working in development, customer services and compliance. Investment comes via a UK company that has funded the exchange for at least one year, and is also working as a strategic advisor to the management team.

In December, the bitcoin community turned to India as its next great hope after Chinese government statements caused the price to drop from its record high of $1,200. India is an emerging economy with a population of over a billion people, nearly half of whom are unbanked or under-served by banks.

It also receives around $70bn in overseas remittances per year, making up 4% of its GDP. Together with its roughly 250m Internet users and a proclivity for high-tech industry, India would seem perfect for the introduction of a breakthrough financial technology like bitcoin.

With some regulatory clarity and reliable services, India may yet fulfil that promise. Via coindesk.com

The post India’s New Bitcoin Exchange BTCXIndia is First with Real Time Trading appeared first on CryptoBit.net.

This is BIG News, and could mark a huge turning point for Alt-Currencies. In the Past getting hold of Crypto was never the easiest process and was one of the most commonly asked questions but now owning Crypto Coins is going to get a whole lot simpler!

Be on the lookout from Tuesday…

A new message was posted today inside the dashboard of account holders of Cryptsy.com, the popular Florida-based altcoin exchange.

This is the first time that Cryptsy officials have committed to a specific date for initiating the verification process. The message, which appears when users navigate to any of the USD trading pairs, reads, “This market is for Verified Accounts Only. The User Verifications system will open on 5/13/2014.”

While Bitcoin has dozens of services, ATMs, and exchanges, where users can purchase the digital money, the choices for consumers wishing to invest in altcoins has been limited. For the most part, these investors have been forced to visit one of the many bitcoin services to buy bitcoin, and then transfer those bitcoins to Cryptsy where they could exchange them to buy any number of 150 cryptocurrencies.

Now, it appears that some of that Wall Street institutional and investor money can more easily flow into alternative cryptocurrencies like Dogecoin (DOGE), Litecoin (LTC), and Feathercoin (FTC). Via altcoinpress.com

The post Cryptsy To Begin USD Verification Next Week!! appeared first on CryptoBit.net.

The USA Today, the second largest newspaper in the United States celebrated the news that Bitcoin is now approved for political campaign contributions by adding a Bitcoin to its own logo. Not only was the logo from the online edition changed but so too was the logo of the paper edition which is the widest circulated print newspaper in the United States. Currently distributed in all fifty states, The USA Today distributes papers to the District of Columbia, Puerto Rico, Guam, Canada and the United Kingdom. The newspaper has its headquarters in the Tysons Corner area of Fairfax County, Virginia, and something tells me that someone at the USA Today must like Bitcoin. USA Today sells for $2.00 USD at newsstands and is often found free at hotels and airports that distribute it to their customers. Auditmedia.com shows the USA Today distribution stats for the last 6 months of 2012 as having a Circulation of 1.7 million print and digital editions and a Combined website reach of 32.2 million unique visitors & 594 million page views.

When clicked, the logo links to this article from the USA Today from May 9, 2014.  The article discusses the FEC decision on Bitcoin and it’s use to fund political campaigns and can be read in its entirety here here: Via cryptocoinsnews.com

Lets hope this trend is adopted by more!!

The post USA Today Adds Bitcoin to its Logo to Home Page… appeared first on CryptoBit.net.

The United States government just cant quite decide whether to regulate bitcoin, or deem it a threat by declaring it a form of financial terrorism. The digital currency regulated only by mathematics is now being seen by government officials as an emerging threat, possibly to national security. It is worth noting that Dollars or other reserve currencies are just as likely if not more likely to be used for terrorism than crypto-currencies.

The United States government just can’t quite decide whether to regulate bitcoin, or deem it a threat by declaring it a form of financial terrorism.

The digital currency regulated only by mathematics is now being seen by government officials as an emerging threat, possibly to national security.

According to IB Times, a counterterrorism program being conducted by the Combating Terrorism Technical Support Office (CTTSO), a division of the Department of Defense (DoD), is seeking help from vendors asking for information on “state-of-the-art technologies” that could potentially pose a threat to the U.S.

With Bitcoin undermining the status quo of centralized monetary institutions, rest assured this won’t be the last time the Government attempts to equate crypto-currency with terrorism.  Stay vigilant!
Via bitcoinmagazine.com

The post Is Bitcoin a Terrorism Threat?? appeared first on CryptoBit.net.

This is a must-read for anyone considering buying their first rig or upgrading after getting feet wet with a typical micro-miner…

In March 2014, Dario Di Pardo wrote about his experiences having spent around $46,000on a number of mining rigs and suffered from delays, poor communication from manufacturers, frustration and yet more delays over the five months since the investments were made. In part two of the series, he brings us up to date on his orders, and tells us which are the companies that come up with the goods and which are the ones to avoid. I sure hope they can pull it off, though.

In March 2014, Dario Di Pardo wrote about his experiences having spent around $46,000 on a number of mining rigs and suffered from delays, poor communication from manufacturers, frustration and yet more delays over the five months since the investments were made.

In part two of the series, he brings us up to date on his orders, and tells us which are the companies that come up with the goods and which are the ones to avoid. Via coindesk.com

The post $46K Spent on Mining Hardware: Confessions of a Crypto Miner… appeared first on CryptoBit.net.

• Client updates
• Block Explorer
• Dedicated Multipool
• Positive Price Movement

This Altcoin is a definate to add to watch list – Could be some major movement on this very soon…

As we mentioned a day or two ago, the new and updated AsiaCoin client has been compiled, and the sources were sent out to exchanges for review. MintPal have announced that, due to their maintenance yesterday, they haven’t had a chance to review the new code yet. From what we can gather, this review should be completed either late today or at some point tomorrow.

As we mentioned a day or two ago, the new and updated AsiaCoin client has been compiled, and the sources were sent out to exchanges for review. MintPal have announced that, due to their maintenance yesterday, they haven’t had a chance to review the new code yet.

It surely looks as if AsiaCoin’s revival could be one of the best things ever happening to the cryptocurrency community in general. We will definitely keep an eye on the situation as it develops further. Via cryptoarticles.com

The post AsiaCoin Update : Huge Developments in the works! appeared first on CryptoBit.net.

Earlier this year Benjamin Lawsky, New York’s financial services superintendent, said he intended to initiate the biggest move towards regulating bitcoin.

Lawsky told CNN Money that he planned do this by administering “BitLicenses” to companies dealing with bitcoins, allegedly to protect the public from fraud.

Given the government’s track record on managing finances, including simple tasks like balancing a checkbook, the notion the government is either trustworthy, or competent, to successfully carry out such a task is debatable; some might say laughable.

Requesting exchanges provide potential users with facts regarding risks seems reasonable, but to insinuate government regulation is necessary to gain consumer trust is reaching.

A group of coders, including Cody Wilson, the mastermind behind printing 3D weapons, and Bitcoin project developer Amir Taaki, may be just one step ahead of the government when it comes to tracking the digital currency.

The Financial Crimes Enforcement Network, however, did respond to Wired Magazine stating they are, “well aware of the many emerging technological efforts designed to subvert financial transparency. It’s certainly our business to be interested and vigilant with respect to any activities that may assist money laundering and other financial crime
Via bitcoinmagazine.com

The post Who Will Win The War to Regulate Bitcoin? appeared first on CryptoBit.net.